Overview
Information & Communication

HENNGE K.K.

HENNGE provides cloud security and identity management SaaS solutions primarily to mid-to-large enterprises in Japan. Its flagship product, HENNGE One, offers single sign-on (SSO), access control, data loss prevention (DLP), email security, and cybersecurity features that enable organizations to securely adopt cloud services such as Microsoft 365 and Google Workspace. The company operates on a subscription-based recurring revenue model and serves a broad range of industries including finance, government, and large corporates, with a strong reputation built over 25+ years of serving security-conscious clients.

Market Cap
¥77.0B
US$491M
EV
¥67.4B
US$430M
Stock¥2,470▲+9.00%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
31.3
x
LTM EV/EBIT
32.6
x
LTM PER
46.4
x
LTM PBR
18.9
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▲+48.8%pt
10012
Oct 24, 25 – Oct 23, 26StockTOPIX
1Aug 5, 26Q3 earnings: operating profit +17.4% YoY, 90.1% progress vs. full-year guidance
2Oct 5, 26Q3 FY2026/09 earnings announced
MC → EV Bridge
77.0BUS$491MMarket Cap0.16BUS$1.03M+ Debt7.83BUS$50.0M− Cash1.96BUS$12.5M− Inv. Sec.67.4BUS$430MEV
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Performance & Balance
Revenue 5Y (¥B)
4.85US$30.9M'21/95.65US$36.0M'22/96.78US$43.2M'23/98.37US$53.3M'24/910.9US$69.7M'25/9
EBITDA 5Y (¥B)
0.42US$2.66M'21/90.50US$3.20M'22/90.74US$4.74M'23/91.06US$6.73M'24/91.87US$11.9M'25/9
Net Income 5Y (¥B)
0.22US$1.43M'21/90.32US$2.05M'22/90.51US$3.25M'23/90.83US$5.27M'24/91.36US$8.66M'25/9
Capital Structure
96%
EquityD/E 0.04xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
3.70US$23.6M'21/94.31US$27.5M'22/95.14US$32.8M'23/96.79US$43.3M'24/98.68US$55.3M'25/9
Shareholders
Top 10 hold 57.6%
1
Kazuhiro OGURA
23.83%
2
Kazuaki MIYAMOTO
10.43%
3
Yoshiki NAGATOME
9.28%
4
Custody Bank of Japan, Ltd. (Trust Account)
2.80%
5
Yoimikan Asset Management Co., Ltd.
2.17%
6
Treco Inc.
2.14%
7
Gora Co., Ltd.
2.00%
8
BNY GCM CLIENT ACCOUNT JPRD AC ISG (FE-AC; Standing Proxy: MUFG Bank, Ltd.)
1.70%
9
INTERACTIVE BROKERS LLC (Standing Proxy: Interactive Brokers Securities Japan Inc.)
1.67%
10
VCN Inc.
1.60%
Management
9 officers
Kazuhiro OGURA
Representative Director, President; Executive Officer in charge of Cloud Product Development Division
Nov 1996 Established Horizon Digital Enterprise Ltd. (now: the Company); assumed Director, Vice President Nov 1997 Horizon Digital Enterprise Co., Ltd. (now: the Company); assumed Representative Director, President (current) Oct 2016 Taiwan Huiding Yi Co., Ltd.; Chairman (current) Oct 2018 HDE Co., Ltd. (now: the Company); Executive Officer in charge of Cloud Product Development Division (current)
1975-03-31
Kazuaki MIYAMOTO
Representative Director, Executive Vice President; Executive Officer in charge of Internal DX Division
Nov 1996 Joined Horizon Digital Enterprise Ltd. (now: the Company) Nov 1997 Horizon Digital Enterprise Co., Ltd. (now: the Company); assumed Representative Director, Executive Vice President (current) Oct 2016 Taiwan Huiding Yi Co., Ltd.; Director (current) Oct 2018 HDE Co., Ltd. (now: the Company); Executive Officer in charge of Customer Success Division Oct 2021 the Company; Executive Officer in charge of HDE Division Apr 2022 the Company; Executive Officer in charge of Messaging Business Division Apr 2023 the Company; Executive Officer in charge of Customer Growth Division (now: Internal DX Division) (current)
1973-06-14
Yoshiki NAGATOME
Director, Vice President
Feb 1997 Joined Horizon Digital Enterprise Ltd. (now: the Company) Feb 1998 Horizon Digital Enterprise Co., Ltd. (now: the Company); assumed Director, Vice President (current) Oct 2016 Taiwan Huiding Yi Co., Ltd.; Director (current) Oct 2018 HDE Co., Ltd. (now: the Company); Executive Officer in charge of Cloud Sales Division HDE Co., Ltd. (now: the Company); Executive Officer in charge of Corporate Communications Office Division HDE Co., Ltd. (now: the Company); Executive Officer in charge of Global Business Development Division Apr 2021 the Company; Executive Officer in charge of Business Development Division Oct 2021 the Company; Executive Officer in charge of Corporate Communications Division Oct 2022 the Company; Executive Officer in charge of Product Planning and Research Division
1974-10-11
Haruo AMANO
Director, Vice President
Nov 1999 Joined Horizon Digital Enterprise Co., Ltd. (now: the Company) Dec 2005 Horizon Digital Enterprise Co., Ltd. (now: the Company); Executive Officer in charge of Business Administration Division and General Manager of Divisions Dec 2018 Taiwan Huiding Yi Co., Ltd.; assumed Corporate Auditor Dec 2020 the Company; assumed Director, Vice President (current) Apr 2021 the Company; Executive Officer in charge of Business Administration Division the Company; Executive Officer in charge of Business Planning and Analysis Division
1975-08-15
Mio TAKAOKA
Director
Jul 1999 Joined Goldman Sachs Securities Co., Ltd. Jul 2002 Joined Morgan Stanley Securities Co., Ltd. (now: Morgan Stanley MUFG Securities Co., Ltd.) Dec 2004 Morgan Stanley Securities Co., Ltd. (now: Morgan Stanley MUFG Securities Co., Ltd.); assumed Vice President Apr 2006 Joined Lehman Brothers Securities Co., Ltd. Dec 2006 Lehman Brothers Securities Co., Ltd.; assumed Senior Vice President, General Manager of Capital Markets Department Jan 2009 Joined Monex Group, Inc. Jan 2014 Monex Group, Inc.; assumed Executive Officer, General Manager of New Business Planning Office Apr 2014 Monex Ventures Co., Ltd.; assumed Director Sep 2017 Joined Medical Note Inc. Sep 2017 Arbor Ventures; assumed Partner Mar 2018 Medical Note Inc.; assumed Director, CFO Dec 2020 Septeni Holdings Co., Ltd.; assumed Outside Director (current) Mar 2021 Kayac Inc.; assumed Outside Director Apr 2021 DNX Ventures; assumed Partner Dec 2021 the Company; assumed Outside Director (current) Mar 2022 Dentsu Soken Inc. (formerly Dentsu International Information Services, Inc.); assumed Outside Director (current) Mar 2022 Kayac Inc.; assumed Outside Director (Audit and Supervisory Committee Member) Jan 2025 DNX Ventures; assumed Venture Partner (current)
1979-05-03
Michiko KATO
Director
Apr 2007 Joined Morgan Stanley Securities Co., Ltd. (now: Morgan Stanley MUFG Securities Co., Ltd.) Jul 2010 Joined International Finance Corporation, World Bank Group May 2014 Graduated from Harvard Business School Aug 2014 Joined Unison Capital Inc. Jul 2018 Joined ABEJA, Inc. Jun 2019 ABEJA, Inc.; assumed Director, CFO Dec 2020 Joined Toyota Research Institute Advanced Development, Inc. (merged into Woven Planet Holdings, Inc.) Dec 2020 Excite Holdings Co., Ltd.; assumed Outside Director (current) Jan 2021 Woven Planet Holdings, Inc. (now: Woven by Toyota, Inc.); assumed Principal, Woven Capital (now: Partner) (current) Sep 2021 FIREBUG Inc.; assumed Outside Corporate Auditor Dec 2021 the Company; assumed Outside Director (current)
1984-08-20
Fumiaki GOTO
Director (Full-time Audit and Supervisory Committee Member)
Feb 1998 Joined Allied Telesis Co., Ltd. Apr 2001 Horizon Digital Enterprise Co., Ltd. (now: the Company); assumed Corporate Auditor (part-time) Jun 2001 Gonzo Digimation Holdings, Inc. (now: Gonzo Inc.); assumed Corporate Auditor Jun 2002 Gonzo Digimation Holdings, Inc. (now: Gonzo Inc.); assumed Executive Officer, CFO Sep 2005 Warpgate Online Inc. (now: Lossoindex Inc.); assumed Director (part-time) Dec 2005 GDH Capital Inc. (now: Zaitas Partners Inc.); assumed Representative Director Feb 2006 GKEntertainment; assumed Director (part-time) Jun 2007 GDH Inc. (now: Gonzo Inc.); assumed Director Jan 2009 Gonzo Rosso Inc. (now: Rosso Index Inc.); assumed Representative Director Oct 2009 Atlas Inc.; assumed Director (part-time) Sep 2012 Geniee, Inc.; assumed Corporate Auditor (part-time) Sep 2013 eTrust Inc.; assumed Director Mar 2016 Monster Lab Inc.; assumed Director Mar 2017 Monster Lab Inc.; assumed Director, Vice President Jun 2018 Geniee, Inc.; assumed Outside Director (Audit and Supervisory Committee Member) Dec 2018 HDE Co., Ltd. (now: the Company); assumed Outside Director Apr 2022 Monster Lab Holdings Co., Ltd. (now: Monster Lab Inc.); assumed Advisor Dec 2022 the Company; assumed Full-time Corporate Auditor Dec 2024 the Company; assumed Director (Full-time Audit and Supervisory Committee Member) (current)
1953-04-26
Akinobu HAYAKAWA
Director (Audit and Supervisory Committee Member)
Oct 2005 Registered as attorney-at-law (Second Tokyo Bar Association); joined Nakajima Management Law Office Apr 2010 Nakajima Management Law Office; assumed Partner Apr 2015 Established Trust Hayakawa Management Law Office (now: Trust Hayakawa Murata Management Law Office); assumed Representative Attorney (current) Dec 2018 HDE Co., Ltd. (now: the Company); assumed Outside Corporate Auditor Mar 2020 Monster Lab Inc. (now: Monster Lab Holdings Co., Ltd.); assumed Corporate Auditor Mar 2023 Chatwork Inc. (now: kubell Inc.); assumed Outside Director (Audit and Supervisory Committee Member) (current) Dec 2024 the Company; assumed Outside Director (Audit and Supervisory Committee Member) (current)
1974-01-04
Kunitaka OUCHI
Director (Audit and Supervisory Committee Member)
Apr 1997 Joined Tokyo Stock Exchange, Inc. Aug 2003 Joined Sugiyama Accounting Office Jan 2005 Joined Ouchi Accounting Office Oct 2009 Established Ebisu Tax Accountants Corporation; assumed Partner (now: Representative Partner) Dec 2010 AUCFAN Inc.; assumed Outside Corporate Auditor Dec 2018 HDE Co., Ltd. (now: the Company); assumed Outside Corporate Auditor Dec 2024 the Company; assumed Outside Director (Audit and Supervisory Committee Member) (current)
1975-01-27
Large Shareholding Reports
Kazuhiro OGURA
2026-10-16
22.93%→20.04%
Annual report (as of 2026-03-31): 23.83%
Yoshimi NAGATOME
2026-10-16
9.35%→7.93%
Annual report (as of 2026-03-31): 9.28%
Kazuaki Miyamoto
2026-10-16
9.28%→8.21%
Annual report (as of 2026-03-31): 10.43%
Asset Management One Co., Ltd.
2026-10-07
5.06%
Kazuaki MIYAMOTO
2026-06-12
10.01%→9.28%
Annual report (as of 2026-03-31): 10.43%
Kazuhiro OGURA
2026-02-17
23.91%→22.93%
Annual report (as of 2026-03-31): 23.83%
Kazuaki MIYAMOTO
2026-02-16
11.57%→10.01%
Annual report (as of 2026-03-31): 10.43%
Yoshimi NAGATOME
2025-11-25
10.43%→9.35%
Annual report (as of 2026-03-31): 9.28%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-10-16
Large Shareholding Report
EDINET
2026-10-16
Large Shareholding Report
EDINET
2026-10-16
Large Shareholding Report
EDINETAmended
2026-10-13
Amended Securities Registration Statement
EDINETAmended
2026-10-13
Amended Securities Registration Statement
EDINET
2026-10-07
Large Shareholding Report
EDINET
2026-10-02
Securities Registration Statement
EDINET
2026-10-02
Securities Registration Statement
TDnet
2026-08-04
Q3 Earnings Flash
FY ending Sep 2026
EDINET
2026-06-12
Large Shareholding Report
EDINET
2026-05-07
Semi-Annual Securities Report
Period: Oct 2025 – Sep 2026
EDINET
2026-02-17
Large Shareholding Report
EDINET
2026-02-16
Large Shareholding Report
TDnet
2026-02-04
Q1 Earnings Flash
FY ending Sep 2026
EDINET
2025-12-24
Annual Securities Report
Period: Oct 2024 – Sep 2025
EDINET
2025-11-25
Large Shareholding Report
TDnet
2025-08-04
Q3 Earnings Flash
FY ending Sep 2025
EDINET
2025-05-07
Semi-Annual Securities Report
Period: Oct 2024 – Sep 2025
TDnet
2025-02-04
Q1 Earnings Flash
FY ending Sep 2025
EDINET
2024-12-24
Annual Securities Report
Period: Oct 2023 – Sep 2024
EDINET
2024-05-10
Quarterly Securities Report
Period: Jan 2024 – Mar 2024
EDINET
2024-02-09
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-12-22
Annual Securities Report
Period: Oct 2022 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-05-12
Quarterly Securities Report
Period: Jan 2023 – Mar 2023
EDINET
2023-02-10
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-12-23
Annual Securities Report
EDINET
2022-08-10
Quarterly Securities Report
EDINET
2022-05-12
Quarterly Securities Report
EDINET
2022-02-10
Quarterly Securities Report
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