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Nomura Research Institute, Net Income Forecast for Last Fiscal Year Revised Downward to an Unexpected 84% Decrease

Thu Apr 23, 2026 3:30 pm JST Revision

4307 Nomura Research Institute,Ltd. 【IFRS】

Guidance Update Report

Nomura Research Institute,Ltd. <4307> [TSE Prime] announced a performance revision after the market closed on April 23rd (15:30). The consolidated net income forecast for the fiscal year ending March 2026 has decreased 85.6%, from the previous forecast of 104 billion yen to 15.0 billion yen (compared to 93.7 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of an 84.0% decrease in profit.

Based on the downwardly revised full-year plan announced by the company, our calculation indicates that the October to March period (second half) consolidated net income/loss has been revised downward from an expected profit of 50.4 billion yen to a loss of 38.5 billion yen (compared to a profit of 48.1 billion yen in the same period of the previous year), turning to a loss outlook.

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Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2025 Prev 412,935 71,201 71,544 50,435 87.9 39 Oct 30, 2025 IFRS
Oct - Mar, 2025 New 416,935 -20,799 -20,456 -38,565 -67.3 39 Apr 23, 2026 IFRS
Revision Rate +1.0% － － － －

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 810,000 150,000 151,000 104,000 181.3 74 Apr 24, 2025 IFRS
Mar, 2026 New 814,000 58,000 59,000 15,000 26.2 74 Apr 23, 2026 IFRS
Revision Rate +0.5% -61.3% -60.9% -85.6% -85.6%

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 416,935 -20,799 -20,456 -38,565 -67.3 39 Apr 23, 2026 IFRS
YoY +7.4% － － － －

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 814,000 58,000 59,000 15,000 26.2 74 Apr 23, 2026 IFRS
YoY +6.4% -57.0% -56.0% -84.0% -84.0%

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