Overview
Information & Communication

Hybrid Technologies Co.,Ltd.

Hybrid Technologies is a Japan-Vietnam integrated digital transformation (DX) solution company that provides end-to-end software development services to Japanese corporate clients, leveraging Vietnamese IT talent to address Japan's IT workforce shortage. The company offers two core service models: a stock (retainer-based) model where engineer teams are embedded into client projects on a flexible basis, and a flow (fixed-scope) model for defined deliverable-based engagements. Its competitive strengths lie in its integrated group structure spanning upstream strategy and UX/UI design through development, maintenance, and growth hacking, supported by offshore development centers in Hanoi, Ho Chi Minh City, and Da Nang.

Market Cap
¥3.47B
US$22.1M
EV
¥5.28B
US$33.7M
Stock¥307▼-3.15%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
13.6
x
LTM EV/EBIT
39.0
x
LTM PER
NM
LTM PBR
1.7
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-34.3%pt
10012345
Oct 24, 25 – Oct 23, 26StockTOPIX
1Aug 17, 26Q3 FY2026/09 earnings announced
2Sep 16, 26Announced acquisition of Cloud Pro Co., Ltd. (making it a subsidiary)
3Oct 15, 26Soltec Investments Pte. Ltd. (controlling shareholder) filed amended large shareholding report on 10/15
4Oct 16, 26SOLTEC Investments filed change report (汎更報告書) amid holding company restructuring
5Oct 20, 26SOLTEC Investments filed correction/change reports (large shareholding change)
MC → EV Bridge
3.47BUS$22.1MMarket Cap2.77BUS$17.7M+ Debt0.85BUS$5.42M− Cash0.20BUS$1.25M− Inv. Sec.0.09BUS$0.60M+ NCI5.28BUS$33.7MEV
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Performance & Balance
Revenue 5Y (¥B)
1.70US$10.9M'21/92.41US$15.4M'22/92.91US$18.5M'23/93.14US$20.0M'24/93.03US$19.3M'25/9
EBITDA 5Y (¥B)
0.23US$1.47M'21/90.42US$2.66M'22/90.40US$2.57M'23/90.29US$1.85M'24/90.23US$1.44M'25/9
Net Income 5Y (¥B)
0.08US$0.48M'21/90.25US$1.59M'22/90.16US$1.02M'23/90.05US$0.34M'24/90.02US$0.12M'25/9
Capital Structure
42%
58%
EquityD/E 1.40xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
0.50US$3.19M0.46US$2.92M'21/91.81US$11.5M0.43US$2.72M'22/91.30US$8.27M0.97US$6.20M'23/91.36US$8.67M1.14US$7.30M'24/90.92US$5.85M1.19US$7.60M'25/9
Shareholders
Top 10 hold 79.1%
1
Soltec Investments Pte. Ltd. (Standing Proxy: Kazuma HIRAKAWA)
33.92%
2
AirTrip Corp.
27.34%
3
Masanori YANAGAWA
3.71%
4
Van Minh TRAN
3.40%
5
MSIP CLIENT SECURITIES (Standing Proxy: Morgan Stanley MUFG Securities Co., Ltd.)
3.13%
6
Evolable Asia Co., Ltd. (Standing Proxy: Kazuma HIRAKAWA)
3.07%
7
Yanagawa Shokai Co., Ltd.
1.32%
8
SBI SECURITIES Co., Ltd.
1.08%
9
Tadashi GOSHONO
1.07%
10
Kazuma HIRAKAWA
1.06%
Management
10 officers
Kazuma HIRAKAWA
Representative Director, President
Dec 2005 Joined Yusei Audit Corporation (now Taiyo LLC Audit Corporation) Aug 2012 Joined SCS Global Consulting Sdn Bhd Jan 2015 Joined Evolable Asia Co., Ltd. Jan 2015 Joined Soltec Vietnam Company Oct 2017 Evolable Asia Solutions Vietnam Co., Ltd. (now Hybrid Technologies Vietnam Co., Ltd.), CFO (current) Apr 2018 Joined Soltec Investments Pte. Ltd. Jun 2018 Joined the Company, General Manager of Administration Department Jan 2019 Director, CFO of the Company Mar 2020 Hybrid Techno Camp Co., Ltd., CFO (current) Dec 2024 Representative Director, President of the Company (current)
1982-11-10
Van Minh TRAN
Chairman of the Board, Director; in charge of Overseas Business
Mar 2010 Joined Alpha Universal Co., Ltd. Apr 2012 Joined Manufacturing Co., Ltd. Sep 2014 Joined FPT Information System Corporation Apr 2016 Established the Company, Representative Director, President Oct 2017 Evolable Asia Solutions Vietnam Co., Ltd. (now Hybrid Technologies Vietnam Co., Ltd.), General Director (current) Mar 2020 Hybrid Techno Camp Co., Ltd., General Director (current) Dec 2024 Chairman of the Board, Director of the Company (current)
1986-05-26
Yosuke KUBOTA
Director; in charge of Corporate Planning Department, Administration Department and Legal Department
Apr 2007 Joined Recruit Co., Ltd. Jul 2018 Joined Evolable Asia Co., Ltd. (now Airtori Co., Ltd.) Apr 2019 Joined the Company, General Manager of Sales Department Oct 2019 Director of the Company Apr 2023 Representative Director, Hybrid Technology Agent Co., Ltd. (current) May 2023 COO of the Company Dec 2024 Director of the Company (current)
1983-07-08
Yoshinobu KINUGASA
Director; in charge of Development Division
Apr 2005 Joined Yahoo Japan Corporation (now LINE Yahoo Corporation) Sep 2006 Joined GREE, Inc. (now GREE Holdings, Inc.) Jan 2014 Joined Hatch Inc. (now Talentio Inc.), Director, CTO Apr 2015 Joined Next Beat Inc., Executive Officer, CTO Apr 2021 Director of the Company May 2021 Established Ixias Inc., Representative Director May 2023 Director, CTO of the Company Dec 2024 Director of the Company (current)
1980-07-13
Takeshi HAMAMOTO
Director; in charge of Investment Strategy Department and Finance & Accounting Department
Apr 2012 Joined Mynavi Corporation Feb 2022 Joined the Company, Executive Officer, General Manager of Corporate Planning Department Dec 2024 Director of the Company (current)
1990-03-29
Rio URUMA
Director; in charge of Business Creation Division
Feb 2016 Established LifeAnd Inc. May 2018 Joined Blabo Inc. Feb 2019 Representative Director, Wur Inc. (current) Dec 2024 Director of the Company (current)
1994-09-09
Mamoru MORIHO
Director
Apr 1980 Joined Sumitomo Metal Mining Co., Ltd. Aug 1989 Joined Nikko Securities Co., Ltd. (now SMBC Nikko Securities Inc.) Apr 1999 Joined Tokyo Mitsubishi Securities Co., Ltd. (now Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.) Sep 2004 Joined Mizuho Securities Co., Ltd. Jan 2007 Joined SBI E*TRADE Securities Co., Ltd. (now SBI Securities Co., Ltd.), General Manager, Capital Markets Department Dec 2022 Director of the Company (current)
1956-07-26
Hayashiya SHIMODA
Full-time Audit & Supervisory Board Member
Apr 1978 Joined Komatsu Ltd. Sep 1985 Joined Nikko Securities Co., Ltd. (now SMBC Nikko Securities Inc.) Nov 2004 Joined E*TRADE Securities Co., Ltd. (now SBI Securities Co., Ltd.) Oct 2016 Joined Anshin Hosho Co., Ltd. Mar 2019 Joined the Company, General Manager of Internal Audit Office Dec 2023 Audit & Supervisory Board Member of the Company (current)
1955-06-01
Tsuyoshi SATOMI
Audit & Supervisory Board Member
Oct 2004 Registered as attorney-at-law (Daiichi Tokyo Bar Association) Oct 2004 Joined Spring Law Office as attorney-at-law Feb 2012 Studied at Shanghai Jiao Tong University International Education College Apr 2013 Trainee at Shanghai Lige Law Firm Feb 2014 Returned to Spring Law Office (current) Jan 2020 Audit & Supervisory Board Member of the Company (current)
1974-12-19
Kazuo YAMADA
Audit & Supervisory Board Member
Apr 1986 Joined Sega Enterprises, Ltd. (now Sega Corporation) Sep 1994 Joined Tokai Accounting Corporation Apr 1997 Registered as Certified Public Accountant May 1997 Established Kazuo Yamada Certified Public Accountant Office (now Kazuo Yamada CPA & Tax Accountant Office), Head (current) Oct 1997 Registered as Certified Tax Accountant Jul 2001 Established AP Network Co., Ltd. (now Only One Consulting Co., Ltd.), Representative Director (current) Oct 2006 Audit & Supervisory Board Member of A-Team Holdings Co., Ltd. (current) Dec 2022 Audit & Supervisory Board Member of the Company (current)
1963-02-28
Large Shareholding Reports
SOLTEC INVESTMENTS PTE. LTD.
2026-10-20
—
SOLTEC INVESTMENTS PTE. LTD.
2026-10-19
29.88%→27.71%
SOLTEC INVESTMENTS PTE. LTD.
2026-10-15
33.39%→29.88%
SOLTEC INVESTMENTS PTE. LTD.
2026-09-09
34.39%→33.39%
Soltec Investments Pte. Ltd. Director Sul Yoosa
2025-12-03
34.68%→34.39%
Disclosures
No disclosures
Primary Source Filings
EDINETAmended
2026-10-20
Change Report
EDINET
2026-10-19
Large Shareholding Report
EDINET
2026-10-15
Large Shareholding Report
EDINET
2026-09-09
Large Shareholding Report
TDnet
2026-08-14
Q3 Earnings Flash
FY ending Sep 2026
EDINET
2026-05-15
Semi-Annual Securities Report
Period: Oct 2025 – Sep 2026
TDnet
2026-02-13
Q1 Earnings Flash
FY ending Sep 2026
EDINET
2025-12-19
Annual Securities Report
Period: Oct 2024 – Sep 2025
EDINET
2025-12-03
Large Shareholding Report
TDnet
2025-08-14
Q3 Earnings Flash
FY ending Sep 2025
EDINET
2025-05-15
Semi-Annual Securities Report
Period: Oct 2024 – Sep 2025
TDnet
2025-02-14
Q1 Earnings Flash
FY ending Sep 2025
EDINET
2024-12-24
Annual Securities Report
Period: Oct 2023 – Sep 2024
EDINET
2024-05-15
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-12-26
Annual Securities Report
Period: Oct 2022 – Sep 2023
EDINET
2023-08-14
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-05-15
Quarterly Securities Report
Period: Jan 2023 – Mar 2023
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-12-27
Annual Securities Report
EDINET
2022-08-12
Quarterly Securities Report
EDINET
2022-05-13
Quarterly Securities Report
EDINET
2022-02-14
Quarterly Securities Report
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