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Overview

Services

en Inc.

en Inc. (formerly en-japan inc.) operates a comprehensive human resources services business in Japan and internationally, offering a broad suite of recruitment platforms and staffing solutions. Core services include 'en転職' (a general job-change site ranked No.1 in customer satisfaction for 8 consecutive years), 'AMBI' (young high-career professionals), 'ミドルの転職' (mid-career professionals), 'エンエージェント' (recruitment agency), 'エンバイト' (part-time), and 'engage' (HR-Tech hiring support). The company also provides overseas recruitment services in Vietnam, India, and Japan's global enterprise segment through subsidiaries Navigos Group and en world Japan.

Activists: Oasis Management Company Ltd. 14.54%

Market Cap

¥69.9B

US$445M

¥43.5B

US$277M

Stock¥1,850▼-0.43%

US$1 = ¥157.05 (2026-10-22)

LTM EV/EBITDA

6.0

LTM EV/EBIT

10.6

LTM PER

11.8

LTM PBR

2.0

Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-7.7%pt

Oct 23, 25 – Oct 23, 26StockTOPIX

1Nov 14, 25Post Q2 earnings selling

2Feb 13, 26Post Q3 earnings selling

3May 11, 26Oasis Management Company Ltd. changed stake (7.93%→9.94%)

4Jul 9, 26Oasis Management Company Ltd. changed stake (9.94%→10.32%)

5Aug 4, 26Oasis Management Company Ltd. changed stake (10.32%→11.4%)

MC → EV Bridge

AI Briefing

en Inc. runs Japan's top-rated job-change platform en転職 plus a diversified recruitment/staffing/HR-Tech portfolio across Japan, Vietnam and India. FY26/3 revenue ¥59.1B with OP margin compressed to 6.7% (¥4.0B), down from FY25/3's ¥65.7B/9.0% peak — topline and profitability both softening. Net cash balance sheet (EV ¥43.0B vs market cap ¥69.4B, cash ¥22.6B, debt ¥0.4B) with founder-family and trust-bank holders dominating the register; no tender offer in play.

Performance & Balance

Revenue 5Y (¥B)

EBITDA 5Y (¥B)

Net Income 5Y (¥B)

Capital Structure

99%

EquityD/E 0.01xDebt

Liquidity vs Debt 5Y (¥B)▲ Net Cash

CashInv. Sec.Debt

Shareholders

Top 10 hold 59.5%

as of 2026-03-31 · Source: Annual Securities Report

Michikatsu OCHI

11.61%

The Master Trust Bank of Japan, Ltd. (Trust Account)

10.16%

En Jinzai Kyoiku Foundation

8.10%

Custody Bank of Japan, Ltd. (Trust Account)

7.06%

En Kikaku Co., Ltd.

5.79%

JP JPMSE LUX RE UBS AG LONDON BRANCH EQ CO (Standing Proxy: MUFG Bank, Ltd.)

4.31%

Akiyuki OCHI

3.91%

THE BANK OF NEW YORK MELLON 140044 (Standing Proxy: Mizuho Bank, Ltd.)

2.91%

BNP PARIBAS LONDON BRANCH FOR PRIME BROKERAGE SEGREGATION ACC FOR THIRD PARTY (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited)

2.89%

BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC; Standing Proxy: MUFG Bank, Ltd.)

2.75%

Management

7 officers

Michikatsu OCHI

Representative Director, Chairman and President

Aug 1983 Established Nihon Brain Center Co., Ltd.; Representative Director Jan 2000 Established the Company Dec 2000 Representative Director of the Company Jun 2008 Representative Director, Chairman of the Company Aug 2011 Representative Director, En Jinzai Kyoiku Foundation (current) Apr 2015 Representative Director, Chairman and Executive Officer of the Company Mar 2022 Director, Chairman of the Company Jan 2024 Representative Director, CSA Management Association (current) Apr 2025 Representative Director, Chairman and President of the Company (current) Oct 2025 Representative Director, En Scholarship Foundation (current) Apr 2026 Representative Director, President, En SX Co., Ltd. (current)

1951-01-18

Jun NAKAJIMA

Director, Executive Officer, General Manager of Management Administration Office

Apr 2006 Joined the Company Aug 2012 General Manager, Tokyo First Sales Department, Mid-Career Recruitment Support Business Division of the Company Jan 2019 General Manager, Dispatch Support Business Division of the Company Apr 2021 Executive Officer of the Company (current) Oct 2021 Representative Director, President, Zekuu Co., Ltd. May 2023 General Manager, Corporate Planning Office of the Company May 2023 Director, Navigos Group Vietnam Joint Stock Company (current) May 2023 Director, En World Japan Co., Ltd. (current) May 2023 Chairman, Zekuu Co., Ltd. (current) Jul 2023 Director, FutureFocus Infotech Pvt, Ltd. (current) Apr 2024 General Manager, Business Strategy Division of the Company Jun 2025 Director, Executive Officer of the Company (current) Jun 2025 Director, En SX Co., Ltd. (current) Apr 2026 General Manager, Management Administration Office of the Company (current)

1984-01-08

Toshihiko ISHIKAWA

Director (Audit and Supervisory Committee Member)

Apr 1977 Joined Showa Audit Corporation (currently EY ShinNihon LLC) Mar 1981 Joined Business Brain Showa Co., Ltd. (currently Business Brain Ota Showa Co., Ltd.) Feb 1990 Registered as Certified Public Accountant Jun 1991 Director, Business Brain Ota Showa Co., Ltd. Jun 2001 Representative Director, President, Financial Brain Systems Co., Ltd. Apr 2009 Representative Director, President, Business Brain Ota Showa Co., Ltd. Jun 2014 CEO, BBS (Thailand) Co., Ltd. Jun 2020 Representative Director, Chairman, Business Brain Ota Showa Co., Ltd. Jun 2021 Outside Audit and Supervisory Board Member of the Company Jun 2022 Director, Chairman, Business Brain Ota Showa Co., Ltd. Jun 2022 Outside Director (Audit and Supervisory Committee Member) of the Company (current) Jun 2023 Director, BS (Thailand) Co., Ltd. Jun 2023 Special Advisor, Business Brain Ota Showa Co., Ltd.

1951-09-06

Yuri HAYASHI

Director

Apr 2003 Joined Recruit Co., Ltd. Oct 2017 Vice Mayor, Shijonawate City, Osaka Prefecture Jun 2022 Outside Director of the Company (current) Mar 2025 Outside Director, Ainec Co., Ltd. (current)

1980-07-11

Rikako ONISHI

Director

Apr 1997 Joined The Nippon Credit Bank, Ltd. (currently SBI Shinsei Bank, Limited) Oct 2002 Established Kotora Co., Ltd., Representative Director (current) Mar 2017 Outside Director, Belpark Co., Ltd. (current) Jun 2019 Outside Director, Towa Bank, Ltd. Dec 2021 Outside Director, Keystone Partners Co., Ltd. Apr 2022 Outside Director (Audit and Supervisory Committee Member), Materials Group Co., Ltd. Mar 2023 Outside Director, Mercuria Holdings Co., Ltd. (current) Jun 2026 Outside Director of the Company (current)

1974-06-16

Taisuke IGAKI

Director (Audit and Supervisory Committee Member)

Oct 2001 Registered as attorney-at-law; joined Kitahama Law Office Jan 2008 Registered as attorney-at-law in New York State, USA Jun 2013 Partner Attorney, Nishimura & Asahi (current) Jun 2018 Outside Director, UT Group Co., Ltd. (current) Outside Audit and Supervisory Board Member of the Company Jun 2020 Outside Director of the Company Jun 2022 Outside Director (Audit and Supervisory Committee Member) of the Company (current)

1973-05-04

Takeshi NISHIKAWA

Director (Audit and Supervisory Committee Member)

Apr 1994 Joined Matsushita Electric Industrial Co., Ltd. (currently Panasonic Holdings Corporation) Oct 2021 Director, Blue Yonder Holding Co., Ltd. (current) Oct 2021 Director, Zetes Industries Co., Ltd. (current) Apr 2022 Director, Managing Executive Officer, Panasonic Connect Co., Ltd. Apr 2023 Director, Executive Officer, Senior Vice President, Panasonic Connect Co., Ltd. Jun 2023 Representative Director, Executive Officer, Senior Vice President, Panasonic Connect Co., Ltd. Jun 2024 Outside Director (Audit and Supervisory Committee Member) of the Company (current) Apr 2025 Representative Director, Executive Officer, Executive Vice President, Panasonic Connect Co., Ltd. (current) Apr 2026 Executive Vice President, Panasonic Connect Group (current)

1971-04-27

Large Shareholding Reports

Oasis Management Company Ltd.

2026-09-24

13.45%→14.54%

Oasis Management Company Ltd.

2026-09-07

12.41%→13.45%

Oasis Management Company Ltd.

2026-08-21

11.40%→12.41%

Oasis Management Company Ltd.

2026-08-04

10.32%→11.40%

Oasis Management Company Ltd.

2026-07-09

9.94%→10.32%

En Kikaku Ltd.

2026-07-06

4.39%→4.39%

Correction filing (name/detail fix only) — ratio carried over from the original filing

Annual report (as of 2026-03-31): 5.79%

Michikatsu OCHI

2026-07-01

8.91%→8.91%

Annual report (as of 2026-03-31): 11.61%

General Foundation EN Jinzai Kyoiku Foundation

2026-07-01

6.15%→7.24%

Annual report (as of 2026-03-31): 8.10%

Michikatsu OCHI

2026-06-30

8.85%→8.91%

Annual report (as of 2026-03-31): 11.61%

Mizuho Trust & Banking Co., Ltd.

2026-06-05

4.58%→4.36%

Oasis Management Company Ltd.

2026-05-11

7.93%→9.94%

SOMPO Asset Management Co., Ltd.

2026-03-05

5.01%→3.90%

Nomura Asset Management Co., Ltd.

2026-02-19

2.14%→2.13%

SOMPO Asset Management Co., Ltd.

2026-02-18

5.01%

NOMURA INTERNATIONAL PLC

2025-12-19

2.18%

Oasis Management Company Ltd.

2025-05-28

5.93%→7.93%

Oasis Management Company Ltd.

2025-04-07

5.93%

Disclosures

No disclosures

Primary Source Filings

EDINET

2026-09-24

Large Shareholding Report

en Inc.

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