Hennge K.k. · TSE:4475
Hennge K.k — Q1 2026 Earnings Presentation
62 slides from Hennge K.k's earnings presentation, Feb 4, 2026
Slide 1: Q1 FY09/2026 Consolidated Financial Results
Note: This is a translation of part of the original Japanese version and is provided for reference purposes only. In the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail. Q1 FY09/2026 Consolidated Financial Results HENNGE K.K. (
Slide 2: Table of Contents
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Table of Contents 1. Q1 FY2026 Consolidated Financial Results 2. FY2026 Full-year Forecast Progress 3. Growth Strategy 4. Appendix Corporate Overview Total Addressable Market Others 2
Slide 3: Q1 FY2026 Consolidated Financial Results
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Q1 FY2026 Consolidated Financial Results (Financial Results) 3
Slide 4: Consolidated Financial Results Highlights
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Consolidated Financial Results Highlights FY2026 Q1 FY2025 Q1 FY2026 YoY YoY (%) Progress (%) (unit: JPY million) Forecast Net sales 2,510 3,016 +505 +20.1% 12,834 23.5% (HENNGE One) 2,335 2,854 +519 +22.2% 12,087 23.6% (Profe
Slide 5: Net Sales
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Net Sales ■ Professional service and others ■ HENNGE One (unit: JPY million) FY2023 FY2024 FY2025 FY2026 5
Slide 6: Net Sales (YoY)
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Net Sales (YoY) Net sales for HENNGE One business, our growth driver, grew steadily YoY. ■ Professional service and others ■ HENNGE One Total (unit: JPY million) YoY +20.1% (+ JPY 0.51B) Professional service and others YoY -7.
Slide 7: Gross Profit
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Gross Profit ● Gross profit margin ■ Gross profit (unit: JPY million) FY2023 FY2024 FY2025 FY2026 7
Slide 8: Gross Profit (YoY)
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Gross Profit (YoY) Increase in margin was achieved mainly from higher ARPU, which kept the margin stably high. ● Gross profit margin ■ Gross profit (unit: JPY million) Gross profit YoY +21.8% (+ JPY 0.47B) FY2023 FY2024 FY2025 FY2
Slide 9: Operating Expenses (QoQ)
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Operating Expenses (QoQ) (unit: JPY million) QoQ Other SG&A decreased mainly due to lower Other SG&A - JPY 115M recruitment related expenses reflecting a decrease in the number of new hires. Advertising expenses - JPY 16M Adver
Slide 10: Operating Expenses (YoY)
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Operating Expenses (YoY) SG&A to sales ratio 69.1% cost to sales ratio SG&A to sales (YoY) ratio 64.4% Advertising expenses increased reflecting Other SG&A 18.5% (-3.5pts) proactive marketing efforts in both domestic (unit: JPY
Slide 11: Net Sales and Operating Expenses
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Net Sales and Operating Expenses ● Net sales ■ Other SG&A ■ Advertising expenses ■ Business consignment & staffing expenses ■ Personnel expenses ■ R&D expenses ■ Cost of Sales (unit: JPY million) FY2023 FY2024 FY2025 FY2026 11
Slide 12: Number of Employees
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Number of Employees While net headcount increased by 14 compared to the previous fiscal year, the recruitment of sales personnel remains challenging. We will continue organizational development and active recruitment to strengt
Slide 13: Business Activities
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Q1 FY2026 Consolidated Financial Results (Business Activities) 13
Slide 14: Business Highlights
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Business Highlights ● Advertisements and events ○ Exhibited at “Local Government Information Promotion Fair 2025,” an information system exhibition for local governments in Japan (October 2025) ○ Exhibited at “Japan IT Week Ka
Slide 15: Marketing and Branding Activities
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Marketing and Branding Activities Accelerated marketing through engaging in 65+ events, with a focus on in-person initiatives in various domestic and overseas markets. Continued branding initiatives to raise awareness of HENNG
Slide 16: KPI Results
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Q1 FY2026 Consolidated Financial Results (KPI Results) 16
Slide 17: HENNGE One KPI Highlights
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results HENNGE One KPI Highlights (Progress in 3 months, compared to the end of FY2025) # of contracted companies # of contracted users ARR 3,580 companies 2.906M users JPY 11.59B increased by 153 companies increased by 106K users inc
Slide 18: HENNGE One KPIs (YoY)
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results HENNGE One KPIs (YoY) # of contracted companies # of contracted users ARR YoY +16.9% YoY +11.2% YoY +20.6% (unit: companies) (unit: K users) (unit: JPY million) +517 companies +292K users + JPY 1.98B 18
Slide 19: HENNGE One Gross Revenue Churn Rate
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results HENNGE One Gross Revenue Churn Rate The churn rate remains low, securing a solid base of recurring revenue. 0.54% 0.44% 0.45% 0.43% 0.34% 0.36% 0.33% 0.28% 0.28% 0.27% 0.27% 0.30% 0.30% ● Average monthly churn rate over the pa
Slide 20: HENNGE One Contracted Companies & Users
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results HENNGE One Contracted Companies & Users # of contracted companies has increased due to the acquisitions of small to mid sized contracts. ● HENNGE One Contracted Users (K users) ■ HENNGE One Contracted Companies (companies) QoQ
Slide 21: HENNGE One ARR & ARPU
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results HENNGE One ARR & ARPU While the adoption of HENNGE One Pro remained stable across both new and existing customers, several relatively large companies opted for single-featured plans, resulting in a limited increase in ARPU. ●
Slide 22: FY2026 Full-year Forecast Progress
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results FY2026 Full-year Forecast Progress 22
Slide 23: Our Policy of FY2026
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Our Policy of FY2026 In pursuit of JPY 20B in ARR, strengthen sales structure and accelerate new customer acquisition, along with enhancing additional service value HENNGE One Business ● Conduct marketing focusing on events to
Slide 24: FY2026 Forecast Highlights
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results FY2026 Forecast Highlights FY2024 FY2025 FY2026 YoY YoY (%) (unit: JPY million) Results Results Forecast Net sales 8,365 10,924 12,834 +1,910 +17.5% (HENNGE One) 7,737 10,259 12,087 +1,828 +17.8% (Professional service and othe
Slide 25: FY2026 Forecast - Net Sales by Business
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results FY2026 Forecast - Net Sales by Business The progress of HENNGE One’s sales is 23.6% against the full-year forecast. Professional service HENNGE One and others (unit: JPY million) (unit: JPY million) ■ Results ■ Forecast 25
Slide 26: FY2026 Forecast - Operating Expenses
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results FY2026 Forecast - Operating Expenses The progress of advertising expenses is 28.4% against the full-year forecast. The progress of operating expenses excluding advertising expenses is 22.4% against the full-year forecast. Oper
Slide 27: Growth Strategy
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Growth Strategy 27
Slide 28: Liberation of Technology
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Corporate Philosophy We want to deliver the power of technology to as many people as we can. Liberation of Technology テクノロジーの解放 28
Slide 29: Maximize LTV
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Maximize LTV Our growth strategy is to maximize LTV. Currently, “Y” and “r” are already in high numbers, therefore our focus is to maximize ARR. LTV = ARR × Y × r Y = [Average contract duration in years] r = [Gross profit rate]
Slide 30: HENNGE One - Growth Strategy KPIs
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results HENNGE One - Growth Strategy KPIs In the recent years, number of small to mid sized contracts were acquired by strengthening relationships with resellers. As a result of providing demanded new services and features, ARPU has i
Slide 31: Value Generation Cycle
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Value Generation Cycle Leveraging the experience gained from achieving JPY 10B in ARR, we will evolve the Value Generation Cycle striving for JPY 20B in ARR, and sustainable growth beyond. CAGR over 20% FY2022 FY2025 FY2029 (T
Slide 32: Mid-term Target and Ambition Beyond
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Mid-term Target and Ambition Beyond While targeting JPY 20B in ARR for FY2029, we will solidify our foundation for further growth beyond, which enables us to exceed JPY 100B in ARR and achieve potential operating profit margin
Slide 33: HENNGE
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Slide 34: Appendix (Corporate Overview)
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Appendix (Corporate Overview) 34
Slide 35: Corporate Profile
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Corporate Profile Company name : HENNGE K.K. Directors : Kazuhiro Ogura Representative Director, President and CEO Kazuaki Miyamoto Representative Director, Executive Senior Vice President Yoshiki Nagatome Director, Executive S
Slide 36: Locations
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Locations Japan Taiwan USA Nagoya HENNGE Inc. branch office HENNGE Taiwan 2025/04 2016/08 2016/10 Osaka branch office 2015/06 Tokyo Head office Hiroshima branch office 2025/11 Fukuoka branch office 2018/08 36
Slide 37: Employee Breakdown by Function
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Employee Breakdown by Function 404 9 (unit: employees, excluding part-time employees, as of 2025-12-31) 37
Slide 38: Liberation of Technology
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Corporate Philosophy We want to deliver the power of technology to as many people as we can. Liberation of Technology テクノロジーの解放 38
Slide 39: History
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results History Our business domain is ever-changing, but our will remains steadfast. y) rit cu y) se tit er ) en LP yb (Id (D (C l x ai aS aS aS nu Em Sa Sa Sa Li 1996 1997 2000 2011 2012 2021 Linux server eCRM software HENNGE One HE
Slide 40: Net Sales by Business
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Net Sales by Business 94.6% of net sales come from HENNGE One business. JPY 3.02B ● HENNGE One ● Professional service and others (as of Q1 FY2026) 40
Slide 41: HENNGE One
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results HENNGE One Provide services in one-stop that remove obstacles for companies trying to improve productivity by adopting cloud. Enhance security and usability of cloud to all the employees by having company-wide implementation.
Slide 42: HENNGE One - Identity
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results HENNGE One - Identity Provide cross-sectional secure access and SSO for various cloud services used by companies. Access Control ID Federation Customizable policy Administrator Various cloud services SSO Microsoft 365 User man
Slide 43: HENNGE One - DLP
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results HENNGE One - DLP Prevent leaks of important data, such as confidential corporate information, from misdirected email and wrong file sharing misconfiguration. DLP Secure DL Email DLP Email Archive - URL auto-conversion - Filtering
Slide 44: HENNGE One - Cybersecurity
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results HENNGE One - Cybersecurity Improve the level of security from technology, people, and processes, by addressing measures such as for ransomware and targeted email attacks. HENNGE Cloud Protection HENNGE Tadrill URLs Files Email
Slide 45: HENNGE One - Solid Customer Base
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results HENNGE One - Solid Customer Base HENNGE One is used by 3,580 companies in various industries, and has approximately 2.906 million users. Average number of contracted users per contracted company is approximately 812. (as of 20
Slide 46: HENNGE One - License Lineups
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results HENNGE One - License Lineups Breakdown by Plan (ARR Base, FY2025) ● HENNGE One Pro ● HENNGE One Basic ● Single-function plans and others 46
Slide 47: Appendix (Total Addressable Market)
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Appendix (Total Addressable Market) 47
Slide 48: Number of Companies by Employee Size in Japan
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Number of Companies by Employee Size in Japan Enormous potential within the market exists as cloud adoption will accelerate going forward. Customers’ demands # of employees ID management for 653 ■ # of companies by each employ
Slide 49: Strengthening Expansion into Overseas Markets
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Strengthening Expansion into Overseas Markets Our main service is a cloud service, which has the potential for cross-border expansion. While continuing to target the Asian market, we will also challenge the business expansion
Slide 50: Appendix (Others)
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Appendix (Others) 50
Slide 51: Path to Becoming World Class IT Company
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Path to Becoming World Class IT Company We will aggressively focus on promoting the existing business, cultivating new markets, and expanding our value through M&As and other measures. To accelerate these efforts, strengthening
Slide 52: New Business Developments
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results New Business Developments Search for the market demands and accelerate the release of new features and services that meet the demands. Continue to support our customers in utilizing SaaS and keep continuing “Liberation of Tech
Slide 53: HENNGE One - Service Overview
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results HENNGE One - Service Overview Service Overview Service Overview HENNGE Access Control Access control/SSO, etc. HENNGE Email Archive Email audit/Archive HENNGE Device Certificate Device certificate HENNGE Secure Transfer Large fil
Slide 54: Business Investments
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Business Investments Mainly invested in B2B startups that own proprietary elements and technologies, which have synergy with our business. We will increase the value provided to our customers through business alliances, M&As,
Slide 55: Customers Mail Cloud
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Customers Mail Cloud Offers email delivery platform that facilitates secure and seamless connection between businesses’ digital services and customers. Public Sector Login notification SMTP DKIM/DMARC TLS Internet Server Auth En
Slide 56: Eat unripe fruits, and make mistakes early
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Value Continuously eat unripe fruits and remain as early adopters in order to make “Liberation of Technology” happen. Through a number of trial and error, we will identify new technology that is useful for our customers, and w
Slide 57: HENNGE WAY
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results HENNGE WAY HENNGE WAY is our code of conduct in order to keep changing with challenges and failures. 01 Love technology 02 Eat unripe fruits 03 Be a learnaholic Love and use Take on challenges and Be endlessly curious. technol
Slide 58: Diversity and Inclusion
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Diversity and Inclusion Focusing our efforts on the Global Internship Program (GIP) not only to provide career development opportunities for the most talented candidates from all over the world, but also to be the precedent org
Slide 59: Diversity in Organization
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Diversity in Organization Diversity is the key driver to keep challenging and changing. We recognize the differences and respect the differences, which then we can create a basis for an ever-changing organization that value chal
Slide 60: Glossary
HENNGE K.K. (4475:TSE Growth) Q1 FY09/2026 Consolidated Financial Results Glossary ARR (Annual Recurring Revenue) refers to revenue, normalized on an annual basis, that a company expects to receive from its customers for providing them with products or services of subscription-based model. ARPU (Ave
Slide 61: Disclaimer
Disclaimer This document has been prepared by HENNGE K.K. (the “Company”) solely for information purpose. This document does not constitute or form part of and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company in Japan, th
Slide 62: HENNGE
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