Waqoo Inc. (4937.T) engages primarily in the direct-to-consumer (D2C) business, planning, developing and selling cosmetics through its e-commerce platform; it also provides medical support services in regenerative medicine. The company offers skin care products including premium moist gel, cleansing oil, facial cleanser, hot cleansing balm, whitening serum, whitening face wash, serum and whitening cleansing under the HADA NATURE brand; makeup base; proteins; and hair care products such as botanical shampoo, hair oil and mask, and head spa hair growth agent. Incorporated in 2005 and headquartered in Setagaya-ku, Tokyo, Japan, Waqoo operates principally in Japan with 86 employees and focuses on beauty and health sectors targeting general consumers via digital marketing. In the medical support segment, it delivers advertising services and regenerative medicine contract processing including blood-derived and fat-derived stem cell services; its D2C revenue constitutes the majority alongside growing medical contributions. In November 2025, SBC Medical Group Holdings Inc. (SBC), through its Japanese subsidiary, commenced a tender offer for up to 575,000 shares of Waqoo at JPY 1,900 per share from November 14 to December 12, with settlement on December 19, aiming to consolidate Waqoo as a subsidiary following SBC's existing 9.49% stake and related-party share transfers to enhance R&D in AGA, orthopedics, skincare and global regenerative medicine. Waqoo completed an equity buyback of 100,000 shares (2.78% of outstanding) in March 2025 for JPY 99.92 million.