The recently observed CP violation in B decay and $B$-$ovar{B}$ mixing data put constraints on the mass of $W_R$ and the parameters of the right-handed current quark mixing matrix $V^R$ in $SU(2)_L times SU(2)_Rtimes U(1)$ gauge model. It is shown that the allowed region of parameters are severely restricted for light $W_R$ with mass on the order of 1 TeV. There exist sets of parameters which can accommodate large CP violation as measured by Belle, $sin2phi_1|_{exp}simeq 1$, for $M_{W_R}=1 sim 10$ TeV.