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Nomura Research Institute,Ltd., First Half Net Income Increases by 21%, July-September Net Income Increases by 15%

Wed Oct 30, 2024 3:00 pm JST Earnings

4307 Nomura Research Institute,Ltd. 【IFRS】

Earnings Report

Nomura Research Institute,Ltd. <4307> [TSE-P] announced its financial results (based on IFRS) after the market closed on October 30th (15:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) increased by 21.2% from the same period last year, reaching 45.6 billion yen. The progress rate against the 88 billion yen full-year plan was 51.9%, also surpassing the four-year average of 48.4%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to nearly flat at 42.3 billion yen, up 0.9% from the same period last year.

In the most recent three-month period, from July to September (2Q), the consolidated net income grew by 14.8% from the same period last year, reaching 23.4 billion yen. The operating profit margin rose from 17.2% in the same period last year to 17.5%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Sep, 2022 339,054 55,268 53,753 35,857 60.7 49.5 Oct 27, 2022 IFRS
Apr - Sep, 2023 362,065 58,865 57,539 37,662 64.1 49.1 Oct 26, 2023 IFRS
Apr - Sep, 2024 376,778 65,635 65,435 45,653 79.4 50.7 Oct 30, 2024 IFRS
YoY +4.1% +11.5% +13.7% +21.2% +23.9%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 Guidance 380,000 64,000 62,000 41,000 71.5 29 Apr 25, 2024 IFRS
Apr - Sep, 2024 Results 376,778 65,635 65,435 45,653 79.4 29 Oct 30, 2024 IFRS
Revision Rate -0.8% +2.6% +5.5% +11.3% +11.1%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2023 374,491 61,546 59,685 41,981 72.2 29 Apr 25, 2024 IFRS
Oct - Mar, 2024 Guidance 403,222 66,365 63,565 42,347 74.1 29 Oct 30, 2024 IFRS
YoY +7.7% +7.8% +6.5% +0.9% +2.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 692,165 111,832 108,499 76,307 128.9 45 Apr 27, 2023 IFRS
Mar, 2024 736,556 120,411 117,224 79,643 136.9 53 Apr 25, 2024 IFRS
Mar, 2025 Guidance 780,000 132,000 129,000 88,000 153.9 58 Apr 25, 2024 IFRS
YoY +5.9% +9.6% +10.0% +10.5% +12.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 185,356 31,838 30,959 20,452 34.8 17.2 Oct 26, 2023 IFRS
Oct - Dec, 2023 187,954 32,374 31,735 23,431 40.2 17.2 Jan 31, 2024 IFRS
Jan - Mar, 2024 186,537 29,172 27,950 18,550 31.9 15.6 Apr 25, 2024 IFRS
Apr - Jun, 2024 188,110 32,643 32,050 22,166 38.5 17.4 Jul 25, 2024 IFRS
Jul - Sep, 2024 188,668 32,992 33,385 23,487 40.9 17.5 Oct 30, 2024 IFRS
YoY +1.8% +3.6% +7.8% +14.8% +17.3%

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