Hennge K.k. · TSE:4475
Hennge K.k — Q3 FY2026 Earnings Presentation
66 slides from Hennge K.k's earnings presentation, Aug 4, 2026
Slide 1: Q3 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. Q3 FY09/2026 Consolidated Financial Results HENNGE K.K. (
Slide 2: Table of Contents
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results Table of Contents 1. Q3 FY2026 Consolidated Financial Results 2. FY2026 Full-year Forecast Progress 3. Growth Strategy 4. Appendix Corporate Overview Total Addressable Market Others 2
Slide 3: Q3 FY2026 Consolidated Financial Results (Financial Results)
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results Q3 FY2026 Consolidated Financial Results (Financial Results) 3
Slide 4: Consolidated Financial Results Highlights
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results Consolidated Financial Results Highlights FY2026 Q3 FY2025 Q3 FY2026 YoY YoY (%) Progress (%) (unit: JPY million) Forecast Net sales 8,016 9,390 +1,374 +17.1% 12,834 73.2% (HENNGE One) 7,509 8,867 +1,357 +18.1% 12,087 73.4% (P
Slide 5: Net Sales
HENNGE K.K. (4475:TSE Growth) Q3 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) Q3 FY09/2026 Consolidated Financial Results Net Sales (YoY) Net sales for HENNGE One business, our growth driver, grew steadily YoY. ■ Professional service and others Total ■ HENNGE One YoY +17.1% (unit: JPY million) (+ JPY 1.37B) Professional service and others YoY +3.
Slide 7: Gross Profit
HENNGE K.K. (4475:TSE Growth) Q3 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) Q3 FY09/2026 Consolidated Financial Results Gross Profit (YoY) Gross profit margin remains at a high level. ● Gross profit margin ■ Gross profit (unit: JPY million) Gross profit YoY +17.4% (+ JPY 1.20B) FY2023 FY2024 FY2025 FY2026 8
Slide 9: Operating Expenses (QoQ)
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results Operating Expenses (QoQ) QoQ (unit: JPY million) Other SG&A Other SG&A + JPY 141M ● Increase in recruitment-related expenses, mainly driven by active hiring efforts. ● Increase in depreciation, due to the recognition of expense
Slide 10: Operating Expenses (YoY)
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results Operating Expenses (YoY) SG&A to sales ratio 66.6% cost to sales ratio SG&A to sales (YoY) ratio 66.5% (unit: JPY million) Advertising expenses Other SG&A 18.5% (-3.3pts) ● Increase due to proactive marketing efforts across var
Slide 11: Net Sales and Operating Expenses
HENNGE K.K. (4475:TSE Growth) Q3 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) Q3 FY09/2026 Consolidated Financial Results Number of Employees Despite a challenging recruitment environment, net headcount increased by 40 from the end of the previous fiscal year as a consequence of various initiatives, such as strengthening the hiring of young talent
Slide 13: Q3 FY2026 Consolidated Financial Results (Business Activities)
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results Q3 FY2026 Consolidated Financial Results (Business Activities) 13
Slide 14: Business Highlights
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results Business Highlights ● Advertisements and events ○ Exhibited at “Japan IT Week Spring” (April 2026) ○ Hosted “HENNGE Unveiled 2026” (April 2026) Announced three new services for HENNGE One: “HENNGE Mesh Network,” “HENNGE Passwo
Slide 15: Announcement of New Services for HENNGE One
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results Announcement of New Services for HENNGE One Hosted “HENNGE Unveiled 2026” in April 2026 and announced new services for HENNGE One. Expanding the scope of HENNGE One to Identity, Devices, and Networks to drive Zero Trust implem
Slide 16: Marketing and Branding Activity Highlights
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results Marketing and Branding Activity Highlights Conducted activities to deliver the new value of HENNGE One to various targets, including “HENNGE Unveiled 2026.” Maintained consistent efforts to raise awareness of HENNGE One. Event
Slide 17: Application for TSE Prime Market Segment Change
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results Application for TSE Prime Market Segment Change Applied for a market segment change to the TSE Prime Market on June 25, 2026, aiming for mid to long term growth and further enhancement of corporate value. Objectives of Changin
Slide 18: Q3 FY2026 Consolidated Financial Results (KPI Results)
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results Q3 FY2026 Consolidated Financial Results (KPI Results) 18
Slide 19: HENNGE One KPI Highlights
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results HENNGE One KPI Highlights (Progress in 9 months, compared to the end of FY2025) # of contracted companies # of contracted users ARR 3,881 companies 3.149M users JPY 12.52B increased by 454 companies increased by 349K users inc
Slide 20: HENNGE One KPIs (YoY)
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results HENNGE One KPIs (YoY) # of contracted companies # of contracted users ARR YoY +18.0% YoY +16.5% YoY +16.7% (unit: companies) (unit: K users) (unit: JPY million) +591 companies +446K users + JPY 1.79B 20
Slide 21: HENNGE One Gross Revenue Churn Rate
HENNGE K.K. (4475:TSE Growth) Q3 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% 0.28% 0.30% 0.33% 0.30% 0.30% 0.28% 0.27% 0.27% 0.26% ● Average monthly churn rate
Slide 22: HENNGE One Contracted Companies & Users
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results HENNGE One Contracted Companies & Users # of contracted companies increased, mainly due to steady acquisitions of small to mid sized contracts. # of contracted users grew significantly, driven by acquisition of c. 10 new contra
Slide 23: HENNGE One ARR & ARPU
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results HENNGE One ARR & ARPU ARPU decreased, mainly impacted by multiple large new customers opting for single-featured plans. ARR grew significantly, mainly driven by the substantial increase in # of contracted users. ● HENNGE One AR
Slide 24: FY2026 Full-year Forecast Progress
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results FY2026 Full-year Forecast Progress 24
Slide 25: Our Policy of FY2026
HENNGE K.K. (4475:TSE Growth) Q3 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 26: FY2026 Forecast - Net Sales by Business
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results FY2026 Forecast - Net Sales by Business The progress of HENNGE One’s sales is 73.4% against the full-year forecast. Professional service HENNGE One and others (unit: JPY million) (unit: JPY million) ■ Results ■ Forecast 26
Slide 27: FY2026 Forecast - Operating Expenses
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results FY2026 Forecast - Operating Expenses The progress of advertising expenses is 77.2% against the full-year forecast. The progress of operating expenses excluding advertising expenses is 69.0% against the full-year forecast. Oper
Slide 28: FY2026 Forecast Highlights
HENNGE K.K. (4475:TSE Growth) Q3 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 29: Growth Strategy
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results Growth Strategy 29
Slide 30: Liberation of Technology
HENNGE K.K. (4475:TSE Growth) Q3 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 30
Slide 31: Maximize LTV
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results Maximize LTV Our growth strategy is to maximize LTV. Currently, “Y” and “r” are already at high levels, therefore our focus is to maximize ARR. LTV = ARR × Y × r Y = [Average contract duration in years] r = [Gross profit rate]
Slide 32: HENNGE One - Growth Strategy KPIs
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results HENNGE One - Growth Strategy KPIs In recent years, a 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 imp
Slide 33: Value Generation Cycle
HENNGE K.K. (4475:TSE Growth) Q3 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 34: Mid-term Target and Ambition Beyond
HENNGE K.K. (4475:TSE Growth) Q3 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
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Slide 36: Appendix (Corporate Overview)
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results Appendix (Corporate Overview) 36
Slide 37: Corporate Profile
HENNGE K.K. (4475:TSE Growth) Q3 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 38: Locations
HENNGE K.K. (4475:TSE Growth) Q3 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 38
Slide 39: Employee Breakdown by Function
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results Employee Breakdown by Function 430 (unit: employees, excluding part-time employees, as of 2026-06-30) 39
Slide 40: Liberation of Technology
HENNGE K.K. (4475:TSE Growth) Q3 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 40
Slide 41: History
HENNGE K.K. (4475:TSE Growth) Q3 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 42: Net Sales by Business
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results Net Sales by Business 94.4% of net sales come from HENNGE One business. JPY 9.39B ● HENNGE One ● Professional service and others (as of Q3 FY2026) 42
Slide 43: HENNGE One
HENNGE K.K. (4475:TSE Growth) Q3 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 44: HENNGE One - Identity
HENNGE K.K. (4475:TSE Growth) Q3 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 45: HENNGE One - DLP
HENNGE K.K. (4475:TSE Growth) Q3 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 46: HENNGE One - Cybersecurity
HENNGE K.K. (4475:TSE Growth) Q3 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 47: HENNGE One - Cybersecurity
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results HENNGE One - Cybersecurity Launched a new service “HENNGE Endpoint & Managed Security” in March 2026. By combining EDR, MDR, and vulnerability assessments, it provides holistic measures not only for devices but also web-facing
Slide 48: HENNGE One - Solid Customer Base
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results HENNGE One - Solid Customer Base HENNGE One is used by 3,881 companies in various industries, and has approximately 3.149 million users. Average number of contracted users per contracted company is approximately 811. (as of 20
Slide 49: HENNGE One - License Lineups
HENNGE K.K. (4475:TSE Growth) Q3 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 49
Slide 50: Revamp of Service Plans for HENNGE One Announced in 2026/8
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results Revamp of Service Plans for HENNGE One Announced in 2026/8 (Oct 2026 -) We are planning to comprehensively revamp the service plans for HENNGE One from October 2026. 50
Slide 51: Appendix (Total Addressable Market)
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results Appendix (Total Addressable Market) 51
Slide 52: Number of Companies by Employee Size in Japan
HENNGE K.K. (4475:TSE Growth) Q3 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 53: Strengthening Expansion into Overseas Markets
HENNGE K.K. (4475:TSE Growth) Q3 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 54: Appendix (Others)
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results Appendix (Others) 54
Slide 55: Path to Becoming World Class IT Company
HENNGE K.K. (4475:TSE Growth) Q3 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 56: New Business Developments
HENNGE K.K. (4475:TSE Growth) Q3 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 57: HENNGE One - Service Overview
HENNGE K.K. (4475:TSE Growth) Q3 FY09/2026 Consolidated Financial Results HENNGE One - Service Overview Service Overview Service Overview HENNGE Access Control Access control, SSO HENNGE Email Archive Email audit, Archive HENNGE Device Certificate Device certificate HENNGE Secure Transfer Large file tr
Slide 58: Business Investments
HENNGE K.K. (4475:TSE Growth) Q3 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 59: Customers Mail Cloud
HENNGE K.K. (4475:TSE Growth) Q3 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 60: Eat unripe fruits, and make mistakes early
HENNGE K.K. (4475:TSE Growth) Q3 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 61: HENNGE WAY
HENNGE K.K. (4475:TSE Growth) Q3 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 62: Diversity and Inclusion
HENNGE K.K. (4475:TSE Growth) Q3 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 63: Diversity in Organization
HENNGE K.K. (4475:TSE Growth) Q3 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 64: Glossary
HENNGE K.K. (4475:TSE Growth) Q3 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 65: 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
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