VisasQ
Asia's largest expert network and the only publicly listed pure-play expert network company (Tokyo Stock Exchange). Co-founded in 2012 by Eiko Hashiba, Tatsuya Aizawa, and Soshi Hanamura, VisasQ pioneered spot consulting in Japan and went global through its $102M acquisition of Coleman Research in 2021.
Services
Best For
When Not Ideal
Key Strengths
- ✓ Only publicly listed pure-play expert network company globally — unmatched transparency and governance
- ✓ Dominant position in Japan with 175,000+ experts — no competitor comes close in Japanese market coverage
- ✓ Combined VISASQ/COLEMAN creates unique East-West bridge with 700,000+ experts in 190 countries
- ✓ Self-service spot consulting marketplace in Japan enables rapid, low-friction expert access
- ✓ Diversified service portfolio: Interview, Now (text Q&A), Lite, Report, and Partner offerings
- ✓ Founder-led: CEO Eiko Hashiba's vision and leadership since 2012 provides strategic continuity
- ✓ Dedicated Life Sciences team strengthens healthcare and pharma coverage globally
- ✓ 7 global offices ensure local presence in major financial centers across Asia, US, and Europe
- ✓ Advisory board includes Prof. Motoshige Itoh (U. Tokyo) and Shinjiro Iwata (former Nintendo executive)
Watch-outs
- ⚠ JPY 14.6B goodwill write-off in April 2024 signals challenges in Coleman integration
- ⚠ Stock price down 84%+ from September 2021 peak, trading below IPO price
- ⚠ Current market cap (~$42.7M) is less than half the $102M paid for Coleman alone
- ⚠ US revenue underperformance due to M&A market slowdown pressured overall growth
- ⚠ Dual-platform architecture (VisasQ marketplace + Coleman service model) creates integration complexity
- ⚠ Net worth dropped to JPY 302M after goodwill write-off, though cash position remains strong
- ⚠ Brand recognition outside Japan is primarily through the Coleman name, not VisasQ
Deep Dive
1 Overview
2 History
Eiko Hashiba co-founded VisasQ (originally as Walkntalk Inc.) in 2012 alongside Tatsuya Aizawa and Soshi Hanamura, after a career spanning Goldman Sachs, L'Oréal Japan, and private equity firm Unison Capital. Hashiba, a University of Tokyo economics graduate who later attended MIT Sloan, was inspired by Steve Jobs' 'connecting the dots' philosophy. She recognized that Japan had no equivalent to the expert network services common in Western finance, and set out to build one. The early years were challenging — Hashiba personally attended business events and made cold calls to recruit experts. But by acting first in an unserved market, VisasQ achieved dominance in Japanese spot consulting. In 2013, the company was selected by Japan's Ministry of Economy, Trade and Industry (METI) as a promising startup. The company rebranded from Walkntalk to VisasQ in 2015 and continued growing, earning J-Startup designation from METI in 2018. VisasQ went public on the Tokyo Stock Exchange's Mothers market on March 10, 2020. Just months after the IPO, in July 2020, VisasQ partnered with DeepBench, investing $300K in the AI-powered expert matching platform. Eighteen months after the IPO, in August 2021, the company made its boldest move: acquiring US-based Coleman Research for $102 million. Coleman had $43.8 million in revenue — more than double VisasQ's — and brought 260,000+ experts and 300+ clients. Kevin Coleman remained as CEO. The deal was funded partly through new share issuance. Post-acquisition, the combined entity expanded capabilities, launching a dedicated US Life Sciences team in July 2023. However, integration faced headwinds. A US M&A slowdown dragged Coleman's revenues below expectations, forcing VisasQ to write off JPY 14.6 billion in goodwill in April 2024. VisasQ's net worth dropped to JPY 302 million, though a strong cash position maintained creditor confidence. In January 2025, VisasQ appointed Ilya Vadeiko as Chief AI Officer (CAIO), signaling a renewed focus on AI-driven platform capabilities and expert matching technology.
3 Services in Detail
VisasQ Interview (Spot Consulting)
VisasQ's original and flagship service — a marketplace platform enabling companies to book 1-hour focused consultations with industry experts. The self-service model allows clients to browse expert profiles, request consultations, and schedule calls directly through the platform. Available as both self-service (Japan) and full-service (global via Coleman).
VisasQ Now (Text Q&A)
An asynchronous text-based Q&A service where clients submit questions and receive written expert responses. Designed for quick, targeted insights when a full consultation call isn't necessary. Popular with Japanese corporate clients for rapid market intelligence.
VisasQ Lite
A streamlined, lower-cost consultation format for shorter engagements and smaller budgets. Provides access to the same expert network with simplified booking and reduced overhead.
VisasQ Report
Custom research reports compiled by VisasQ's in-house team, combining expert insights with desk research for comprehensive industry analysis and market assessment.
VisasQ Partner
An enterprise partnership program offering dedicated account management, volume-based pricing, and customized workflows for institutional clients with recurring expert network needs.
Expert Consultations (Global via Coleman)
Traditional expert network service provided through the Coleman platform, connecting clients with vetted industry experts for one-on-one calls. Supported by dedicated project managers in 7 global offices with deep coverage across financial services, healthcare, technology, and industrials.
Cross-Border Asia Research
The combined entity's unique capability — bridging 175,000+ Japanese experts with Coleman's US/European network for seamless cross-border research. Particularly valuable for investors evaluating Japan market entry, M&A targets, or Asia-Pacific competitive dynamics.
Survey Services
Quantitative survey research leveraging the 700,000+ combined expert network for targeted B2B sampling across Japanese, Asian, US, and European markets.
Industry Events & Roundtables
Curated events connecting clients with senior industry experts for group discussions and networking, leveraging VisasQ's deep relationships in the Japanese business community.
4 AI & Platform
VisasQ operates a dual-platform architecture: the original VisasQ spot consulting marketplace (optimized for the Japanese market with self-service expert search and booking) and the Coleman platform (a service-led model with project manager support for global clients). The company is progressively integrating these platforms, with AI-driven expert search spanning the combined 700,000+ expert database. In July 2020, VisasQ invested $300K in DeepBench, an AI-powered expert matching platform, to enhance its technology capabilities. In January 2025, the company appointed Ilya Vadeiko as Chief AI Officer (CAIO), signaling a strategic commitment to AI-driven expert matching and platform innovation. Multilingual capabilities support Japanese, English, and other languages for cross-border research.
- ◆ Self-service spot consulting marketplace with direct expert booking (Japan)
- ◆ AI-driven expert search across 700,000+ professionals in 190 countries
- ◆ DeepBench partnership ($300K investment) for AI-powered expert matching technology
- ◆ Chief AI Officer (CAIO) appointed January 2025 to lead AI strategy
- ◆ Multilingual platform supporting Japanese, English, and other languages
- ◆ Integrated cross-border research tools spanning Asian and Western markets
- ◆ Compliance screening automation across multiple regulatory jurisdictions
- ◆ Centralized project management across 7 global offices
5 Compliance
As the only publicly listed pure-play expert network company, VisasQ operates under the enhanced governance and transparency requirements of the Tokyo Stock Exchange. Chief Compliance Officer Conrad Gordon oversees the combined VISASQ/COLEMAN entity's compliance frameworks, which are aligned with Japanese FSA regulations, US SEC requirements, and European/Asian regulatory standards. The compliance program includes expert identity protection protocols, anti-circumvention policies, and specific MNPI controls for each interaction type. Coleman's 20+ year compliance culture provides a strong foundation for the combined entity's global operations. Quarterly financial reporting and audited disclosures provide clients and investors with unprecedented transparency into the company's operations.
- ● Publicly listed on Tokyo Stock Exchange — highest governance standards in the expert network industry
- ● CCO Conrad Gordon leads global compliance across all jurisdictions
- ● Japanese FSA-aligned compliance policies for domestic operations
- ● Coleman's 20+ year compliance culture for US and European operations
- ● Expert identity protection protocols across all engagement types
- ● Anti-circumvention policies to prevent unauthorized direct contact
- ● Multi-jurisdictional compliance spanning Japan, US, UK, Hong Kong, and Singapore
- ● MNPI monitoring and specific controls for each expert interaction
- ● Enforced cooling-off periods with regulatory-specific adaptations
- ● Quarterly audited financial reporting as a public company
- ● Complete audit trail across all platforms
VisasQ's status as a publicly listed company on the Tokyo Stock Exchange provides a level of governance and transparency unmatched by any other expert network. The company reports under three segments: Japan Corporate Business, Japan ENS Business, and Ex-Japan ENS Business. While the JPY 14.6B goodwill write-off in 2024 impacted net worth, the company maintains financial stability with a strong cash position. Clean regulatory record across all operating jurisdictions.
6 Client Fit
VisasQ's combined platform is uniquely positioned for clients needing cross-border research spanning Japan/Asia and Western markets. The spot consulting marketplace is ideal for Japanese companies seeking quick expert access, while the Coleman service model serves global institutional clients. The dedicated US Life Sciences team (launched July 2023) strengthens healthcare and pharma coverage. The platform is less differentiated for clients focused exclusively on US or European markets with no Asian research needs.
- → Investors evaluating Japanese and Asian market opportunities or M&A targets
- → Consulting firms conducting cross-border research spanning Asian and Western markets
- → Japanese corporations seeking domestic spot consulting and industry expertise
- → Life sciences and healthcare companies needing specialized pharma/biotech experts
- → Financial institutions needing compliance-first expert access across multiple jurisdictions
- → Companies entering or expanding in the Japan/Asia-Pacific market
7 Notable Facts
- • Only publicly listed pure-play expert network company in the world (Tokyo Stock Exchange, since March 2020)
- • Co-founded by Eiko Hashiba, Tatsuya Aizawa, and Soshi Hanamura in 2012
- • Hashiba's career spans Goldman Sachs, L'Oréal Japan, Unison Capital, and MIT Sloan
- • Acquired Coleman Research for $102M in 2021 — Coleman had more than twice VisasQ's revenue at the time
- • Combined entity has 700,000+ experts globally, with 175,000+ in Japan alone
- • Trailing twelve-month revenue of approximately $64.6 million across three business segments
- • JPY 14.6 billion goodwill write-off in April 2024 — one of the largest write-offs in expert network history
- • Originally founded as Walkntalk Inc. in 2012; rebranded to VisasQ in 2015
- • Selected by METI as promising startup (2013) and earned J-Startup designation (2018)
- • Invested $300K in DeepBench (July 2020) for AI-powered expert matching
- • Appointed Ilya Vadeiko as Chief AI Officer (CAIO) in January 2025
- • Advisory board includes Prof. Motoshige Itoh (University of Tokyo) and Shinjiro Iwata (former Nintendo exec)
- • Hashiba cites Steve Jobs' 'connecting the dots' Stanford speech as her founding inspiration
- • IPO price was JPY 1,300; stock peaked in September 2021 before declining over 84%
8 Source Notes & Methodology
- ℹ VisasQ corporate website (corp.visasq.co.jp) — company overview, management team, IR disclosures
- ℹ VisasQ IR filings (Tokyo Stock Exchange) — financial reports, goodwill write-off disclosures
- ℹ Bloomberg (August 2021) — Coleman acquisition announcement ($102M)
- ℹ Sustainable Japan by The Japan Times — Eiko Hashiba profile and founding story
- ℹ Eightfold Investor (Substack) — detailed financial analysis including goodwill write-off and stock performance
- ℹ PitchBook — revenue ($64.6M TTM), market cap ($42.7M), and stock performance data
- ℹ PR Newswire (November 2021) — acquisition completion and combined entity details
- ℹ Canaccord Genuity — financial advisor disclosures for the Coleman sale
- ℹ LinkedIn — management team profiles, employee count (~497), company information
- ℹ Crunchbase — co-founder profiles and career backgrounds
- ℹ DeepBench partnership announcement (July 2020) — $300K investment details
- ℹ VisasQ press releases — Life Sciences team launch (July 2023), CAIO appointment (January 2025)
- ℹ METI / J-Startup — government startup designation records
9 Data Confidence Ratings
Each data point in this profile is graded for source confidence. Here's what each badge means:
This profile's ratings
10 How We Researched This
This profile was researched and written by the ExpertNetworks.net editorial team using a multi-source methodology:
- Primary sources: Company website, press releases, SEC/regulatory filings, and official announcements
- Third-party verification: Industry reports (Integrity Research, Inex One), news coverage (TechCrunch, Bloomberg, FT), and data aggregators (PitchBook, Tracxn, Crunchbase)
- Cross-referencing: Claims were checked against multiple independent sources where possible; single-source claims are flagged
- Confidence grading: Each data point is rated as Verified, Positioning (company-claimed), or Inference (estimated from indirect evidence)
We do not accept payment from any expert network for inclusion or favorable coverage. If you spot an error, contact us with the correction and source.
Last fact-checked: 2026-03-08