Blizard shot a 6-under 66 on Saturday for a three-round total of 15-under 201. Hendry, playing in his home country, was at 14 under after a third-round 68, a stroke ahead of Australian Scott Strange in third.
Blizard was the 2007 Australian amateur champion, and he also won the 2011 West Australian Open and 2007 Tasmanian Open. He had six birdies Saturday in a bogey-free third round.
Toshinori Muto, a five-time winner on the Japan Tour, was five shots off the lead at 10 under.