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Nomura Research Institute, Apr-Dec (Cumulative 3Q) Net Income Increases by 16%, Oct-Dec Net Income Increases by 13%

Thu Jan 29, 2026 3:30 pm JST Earnings

4307 Nomura Research Institute,Ltd. 【IFRS】

Earnings Report

Nomura Research Institute,Ltd. <4307> [TSE Prime] announced its financial results (based on IFRS) after the market closed on January 29th (15:30). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2026 (April to December) increased 15.9% from the same period last year, reaching 83.2 billion yen. Progress toward the full-year plan of 104 billion yen was 80.0%, also surpassing the five-year average of 75.4%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the January to March period (4Q) is expected to decrease 5.3% from the same period last year to 20.7 billion yen.

In the most recent three-month period, from October to December (3Q), the consolidated net income grew 13.4% from the same period last year, reaching 29.6 billion yen. The operating profit margin rose from 19.2% in the same period last year to 19.5%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Dec, 2023 550,019 91,239 89,274 61,093 104.7 76.2 Jan 31, 2024 IFRS
Apr - Dec, 2024 568,245 102,353 101,587 71,795 125.2 75.7 Jan 30, 2025 IFRS
Apr - Dec, 2025 602,333 118,780 119,531 83,201 145.2 79.2 Jan 29, 2026 IFRS
YoY +6.0% +16.0% +17.7% +15.9% +16.0%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 388,035 69,272 68,726 48,109 83.9 34 Apr 24, 2025 IFRS
Oct - Mar, 2025 Guidance 412,935 71,201 71,544 50,435 88.0 39 Oct 30, 2025 IFRS
YoY +6.4% +2.8% +4.1% +4.8% +4.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 736,556 120,411 117,224 79,643 136.9 53 Apr 25, 2024 IFRS
Mar, 2025 764,813 134,907 134,161 93,762 163.6 63 Apr 24, 2025 IFRS
Mar, 2026 Guidance 810,000 150,000 151,000 104,000 181.4 74 Apr 24, 2025 IFRS
YoY +5.9% +11.2% +12.6% +10.9% +10.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 191,467 36,718 36,152 26,142 45.6 19.2 Jan 30, 2025 IFRS
Jan - Mar, 2025 196,568 32,554 32,574 21,967 38.3 16.6 Apr 24, 2025 IFRS
Apr - Jun, 2025 195,770 37,246 37,978 26,000 45.4 19.0 Jul 28, 2025 IFRS
Jul - Sep, 2025 201,295 41,553 41,478 27,565 48.1 20.6 Oct 30, 2025 IFRS
Oct - Dec, 2025 205,268 39,981 40,075 29,636 51.7 19.5 Jan 29, 2026 IFRS
YoY +7.2% +8.9% +10.9% +13.4% +13.5%

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