PHILADELPHIA–()–Wharton Research Data Services (WRDS), the leading data research platform and business intelligence tool for corporate, academic and government institutions worldwide, is pleased to announce the addition of Toyo Keizai, the first Japanese dataset offered on the WRDS platform. Toyo Keizai provides data on all listed companies (in ESTIMATES, FUNDAMENTALS and MAJOR SHAREHOLDERS), data of nearly 30,000 overseas affiliates of Japanese companies (in OVERSEAS COMPANIES), and ESG data on 1,400 companies (CSR). A part of the Wharton School of the University of Pennsylvania, WRDS provides global corporations, universities and regulatory agencies the thought leadership, data access and insights needed to enable impactful research.



  • Research annual (FY 1 and FY2) and interim estimates for items such as Sales, Operating Income, Ordinary Income, Net Income, as well as EPS and DPS, on daily basis. Coverage from 1985 for all listed companies in Japanese exchanges (excluding BOJ, Preferred stock, Foreign Stock, ETF, REIT, and Subsidiary tracking stock)


  • Comprehensive financial statements for all listed companies in Japan are standardized and classified into 6 categories – Generals, Banks, Brokerages, Casualty Insurances, Life Insurances, and REITs. Coverage from 1972

Corporate Social Responsibility (CSR)

  • Information on 1,400 companies covering Human Resources, Governance, and Environment. Coverage from 2005

Major Shareholders

  • Research the top 30 major shareholders. Coverage from 2002 for all listed companies in Japanese exchanges (excluding BOJ, Preferred stock, Foreign Stock, ETF, REIT, and Subsidiary tracking stock)

Overseas Japanese Companies

  • Evaluate information of overseas affiliated companies and parent company. Coverage from 1991 for 30,000 overseas affiliated companies and 5,000 parent companies in Japan

“WRDS is delighted to add Toyo Keizai to our platform,” said Robert Zarazowski, Managing Director of WRDS. “Data on global companies is more important than ever and WRDS is pleased to provide information that supports research on Japanese business and firms. I know this global perspective will be a wonderful addition to WRDS’ suite of international datasets.”

“We are pleased and honored to partner with WRDS,” said Kenichi Komahashi, President of Toyo Keizai. “Our company believes data is key to informed decision-making in business and we are excited to bring our data to WRDS users.”


The Effect of National Corporate Responsibility Environment on Japanese MNCs' Location Choice, George Z. Peng (University of Regina)

An Empirical Examination of Equity-Market Induced Earnings Management in Japan, Ahsan Habib (Hitotsubashi University — Graduate School of Commerce and Management)


Founded in 1895, Toyo Keizai Inc. is a leader in business publishing and a trusted commentator on Japanese politics and economics, always from a liberal perspective. From magazines, books on economics, management, business and investment, and a variety of other publications, to our on-line corporate information services, we provide a highly diversified range of business-related content.

Ever since our founding, we have been aware that data is essential for rational discussion and thus have focused on collecting and distributing statistical and corporate data. We adopted computerization relatively early and have been providing data for securities firms and institutional investors on a daily basis since the early 1980’s.

Nowadays we are trusted by rating agencies worldwide as the sole provider of a vast store of information on all publicly traded companies in Japan, including earnings estimates based on our independent research and analysis. We deliver a range of highly reliable and unique content to meet these needs at a professional level. For more information see


Wharton Research Data Services (WRDS) provides the leading business intelligence, data analytics, and financial research platform to global institutions ̶ enabling comprehensive thought leadership, historical analysis, and insight into the latest innovations in academic research.

WRDS provides researchers with one location to access over 350 terabytes of data across multiple disciplines including Accounting, Banking, Economics, ESG, Finance, Healthcare, Insurance, Marketing, and Statistics. Flexible data delivery options include a powerful web query method that reduces research time, the WRDS Cloud for executing research and strategy development, and the WRDS client server using PCSAS, Matlab, and R. Our Analytics team, doctoral-level support and rigorous data review and validation give clients the confidence to tailor research within complex databases and create a wide range of reliable data models.

An award-winning data research platform for over 50,000 commercial, academic, and government users in 35+ countries, WRDS is the global gold standard in data management and research ̶ all backed by the credibility and leadership of the Wharton School.

About the Wharton School

Founded in 1881 as the first collegiate business school, the Wharton School of the University of Pennsylvania is recognized globally for intellectual leadership and ongoing innovation across every major discipline of business education. With a broad global community and one of the most published business school faculties, Wharton creates economic and social value around the world. The Wharton School has 5,000 undergraduate, MBA, executive MBA, and doctoral students; more than 9,000 participants in executive education programs annually and a powerful alumni network of 96,000 graduates.

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