We characterized in-plane magnetic and electrical properties of MnAs/InAs/GaAs (111) B hybrid structure grown by molecular beam epitaxy (MBE). We observed isotropic easy magnetization in two crystallographic in-plane directions, [ 2 ̅ 110 ] and [ 0 1 ̅ 10 ] of hexagonal MnAs i.e. [ 1 ̅ 10 ] and [ 11 2 ̅ ] of cubic InAs. We also fabricated transmission line model (TLM) devices, and observed almost isotropic electrical properties in two crystallographic in-plane directions, [ 1 ̅ 10 ] and [ 11 2 ̅ ] of cubic InAs. Also we tried to fabricate and characterize lateral spin-valve (LSV) devices from the hybrid structure. We could roughly estimate the spin injection efficiency and the spin diffusion length at room temperature in [ 11 2 ̅ ] direction. We believe that the hybrid structures are helpful to design spintronic device with good flexibility in-plane.