Net cash basis: Cash ¥6,088M with no interest-bearing debt, Q2 FY2026 balance sheet (2026-03-31). A further ¥1,436M of investment securities sits outside this figure.
Revenue, operating profit, and operating margin by fiscal year
Annual figures as filed in each year's annual securities report (Japanese GAAP, consolidated, ¥M). HENNGE paid no dividend before FY2024. FY2026E is the company's own guidance. Links open the English disclosure when the company provides one; [JA] marks Japanese-only documents.
| FY | Revenue | YoY | Op Profit | YoY | OPM | Net Income | EPS ¥ | DPS ¥ | Disclosure |
|---|---|---|---|---|---|---|---|---|---|
| FY2021 | 4,845 | — | 380 | — | 7.8% | 224 | 6.93 | — | Results [EN] |
| FY2022 | 5,646 | +16.5% | 462 | +21.6% | 8.2% | 321 | 9.88 | — | Results [EN] |
| FY2023 | 6,776 | +20.0% | 708 | +53.2% | 10.4% | 509 | 15.75 | — | Results [EN] |
| FY2024 | 8,365 | +23.5% | 1,015 | +43.4% | 12.1% | 827 | 25.67 | 3.00 | Results [EN] |
| FY2025 | 10,924 | +30.6% | 1,793 | +76.7% | 16.4% | 1,358 | 42.40 | 5.00 | Results [EN] |
| FY2026E | 12,834 | +17.5% | 2,057 | +14.7% | 16.0% | 1,595 | 50.06 | 6.00 | Guidance (FY2025 tanshin) [JA] |
Net income is profit attributable to owners of the parent. The shaded row is the company's own forecast, not a JII estimate.
Standalone quarters — the last 13
Standalone quarters derived from each period's own year-to-date disclosure (¥M); Q4 rows are full-year minus nine-month figures. Sums can differ from annual-report figures by ¥1M of rounding (FY2023 and FY2024 differ by ¥1M).
| Quarter | Revenue | YoY | Op Profit | YoY | OPM | Net Income | Disclosure |
|---|---|---|---|---|---|---|---|
| FY23 Q2 | 1,648 | — | 175 | — | 10.6% | 107 | Results [EN] |
| FY23 Q3 | 1,742 | — | 289 | — | 16.6% | 203 | Results [EN] |
| FY23 Q4 † | 1,838 | — | 150 | — | 8.2% | 153 | Results [EN] |
| FY24 Q1 | 1,915 | — | 385 | — | 20.1% | 256 | Results [EN] |
| FY24 Q2 | 1,980 | +20.1% | 263 | +50.3% | 13.3% | 165 | Results [EN] |
| FY24 Q3 | 2,166 | +24.3% | 269 | -6.9% | 12.4% | 303 | Results [EN] |
| FY24 Q4 † | 2,303 | +25.3% | 98 | -34.7% | 4.3% | 103 | Results [EN] |
| FY25 Q1 | 2,510 | +31.1% | 529 | +37.4% | 21.1% | 406 | Results [EN] |
| FY25 Q2 | 2,695 | +36.1% | 590 | +124.3% | 21.9% | 386 | Results [EN] |
| FY25 Q3 | 2,811 | +29.8% | 461 | +71.4% | 16.4% | 266 | Results [EN] |
| FY25 Q4 † | 2,908 | +26.3% | 213 | +117.3% | 7.3% | 300 | Results [EN] |
| FY26 Q1 | 3,016 | +20.2% | 530 | +0.2% | 17.6% | 366 | Results [EN] |
| FY26 Q2 | 3,113 | +15.5% | 738 | +25.1% | 23.7% | 518 | Results [EN] |
† Fourth quarters are derived as the full year minus the nine-month cumulative. YoY compares the same quarter a year earlier.
Cap table and the latest capital-allocation signals
Major shareholders · as of 2025-09-30
| Holder | Shares | Ratio | |
|---|---|---|---|
| 1 | Kazuhiro Ogura (co-founder & CEO)小椋一宏 | 7,748,500 | 24.33% |
| 2 | Kazuaki Miyamoto (co-founder & representative director)宮本和明 | 3,574,100 | 11.22% |
| 3 | Yoshimi Nagatome (co-founder & director)永留義己 | 3,189,000 | 10.01% |
| 4 | BNYM SA/NV re Legal & General UCITS ETF (custodian)BNYMSANV RE BNYMSANVDUBRE LEGAL (AND) GENERAL UCITS ETF PLC | 1,204,200 | 3.78% |
| 5 | Custody Bank of Japan (trust account)株式会社日本カストディ銀行(信託口) | 1,015,300 | 3.19% |
| 6 | Interactive Brokers LLC (custodian)INTERACTIVE BROKERS LLC | 818,100 | 2.57% |
| 7 | BNYM AS AGT/CLTS Non Treaty JASDEC (custodian)BNYM AS AGT/CLTS NON TREATY JASDEC | 545,240 | 1.71% |
| 8 | JP Morgan SecuritiesJPモルガン証券株式会社 | 510,734 | 1.60% |
| 9 | UBS AG London IPB segregated client account (custodian)UBS AG LONDON A/CIPB SEGREGATED CLIENT ACCOUNT | 501,067 | 1.57% |
| 10 | VCN Co.株式会社ブイ・シー・エヌ | 500,000 | 1.57% |
Ratios as filed: percent of shares outstanding excluding treasury shares at fiscal year-end (treasury 650,532 shares at 2025-09-30; 1,328,032 at 2026-03-31 after the November–December 2025 buyback). Source: FY2025 annual securities report (filed 2025-12-24) [JA]
All three co-founders file under the 5% rule, each jointly with a personal asset-management company; the three groups together report roughly 48% of the company. No institutional filer currently stands above 5% — Asset Management One dropped back below the line in July 2025.
5%-Rule Filings · current positions
Founder and representative director; long-term stable holding, partly through his asset-management company. Filing [JA]
Representative director; long-term stable holding, partly through his wholly-owned asset-management company. Filing [JA]
Director and co-founder; long-term stable holding, partly through his wholly-owned asset-management company. Filing [JA]
Stake moves over 1% · filing timeline
Kazuhiro Ogura (co-founder & CEO) — Amended to 24.78% combined (22.93% direct + 1.85% via asset-management company Gora), down from 25.37% direct in October 2024. Filing [JA]
Kazuaki Miyamoto (co-founder) — Amended to 12.09% combined (10.01% direct + 2.08% via Yoimikan Asset Management). Filing [JA]
Yoshimi Nagatome (co-founder) — Amended to 10.94% combined (9.35% direct + 1.59% via Toreco). Filing [JA]
Asset Management One — Back below the 5% line at 4.48% — first filed 6.93% in July 2024 and peaked at 9.73% that September. Filing [JA]
Fidelity Investments Japan — Fell below the 5% line at 3.75% after peaking at 8.41% in May 2022; FMR, Wasatch, and Capital Research had already cut or exited during the 2021–2022 SaaS de-rating. Filing [JA]
The disclosures worth your time
The documents a first-time reader of this company actually needs, in reading order. Direct PDFs where the link is durable; everything else lives on the company's own library pages below. English documents are linked whenever the company provides them; [JA] marks items where no English version exists.
HENNGE K.K. — official English IR site · translated financial results and briefing materials ↗Key documents
2026-05-07 Start here Q2 FY2026 earnings briefing deck (English) — HENNGE One ARR, churn, and unit-price trends [EN] 2026-05-07 In English Q2 FY2026 consolidated financial results for the six months ended March 31, 2026 (English translation of the tanshin) [EN] 2026-05-07 In English Q2 FY2026 results Q&A — management's written answers on HENNGE One growth and costs [EN] 2026-05-27 In English Q2 FY2026 results-briefing transcript (English translation) [EN] 2026-05-07 Results Q2 FY2026 tanshin (consolidated financial results, Japanese GAAP) [JA] 2025-11-07 Results FY2025 tanshin — FY2025 actuals and the FY2026 guidance (revenue ¥12.8bn, operating profit ¥2.06bn) [JA] 2025-12-24 Annual report FY2025 annual securities report (YUHO) — full financials and cap table [JA]Published Compounder Profiles on HENNGE K.K.
Long-form JII analysis. New write-ups are added here as results come in; the overview above always carries the latest numbers.
2026-05-14 JII Compounder Profile — Initiation ↗A cloud-security SaaS (HENNGE One) that grew revenue 30.6% in FY2025 with the operating margin expanding to 16.4%, trading at roughly 13.6x forward EV/EBIT after a 46% drawdown from its peak. The profile covers the share-price pressure, the SaaS KPIs, the stepped-up growth investment, and the disclosure levers that could close the gap.
This is not investment advice. Japan Investor Interface Co., Ltd. ("JII") is an investor-relations consultancy, not a registered investment advisor, broker-dealer, or securities firm in any jurisdiction, and is not registered as a Financial Instruments Business Operator under Japan's Financial Instruments and Exchange Act. This page is an editorial compilation of publicly disclosed information for educational and research purposes. Nothing here constitutes a recommendation or solicitation to buy, sell, or hold any security. Figures may be incomplete, out of date, or incorrect; company forecasts are the company's own and are inherently uncertain. JII does not trade in or hold positions in the securities of companies profiled. Before making any investment decision, consult qualified, licensed advisors and rely on primary disclosures issued by the company.
本資料は、日本の金融商品取引法に基づく投資助言・代理業ではなく、特定の有価証券の売買その他の取引の勧誘・推奨を目的とするものではありません。投資の判断はご自身の責任と独立した調査に基づいて行ってください。