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Nomura Research Institute, First Half Net Income Increases by 17%, Jul-Sep Net Income Increases by 17%

Thu Oct 30, 2025 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 October 30th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2026 (April to September) increased 17.3% from the same period last year, reaching 53.5 billion yen. Progress toward the full-year plan of 104 billion yen was 51.5%, also surpassing the five-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 grow 4.8% from the same period last year, reaching 50.4 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income grew 17.4% from the same period last year, reaching 27.5 billion yen. The operating profit margin rose from 17.5% in the same period last year to 20.6%.

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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, 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 48.8 Oct 30, 2024 IFRS
Apr - Sep, 2025 397,065 78,799 79,456 53,565 93.5 52.6 Oct 30, 2025 IFRS
YoY +5.4% +20.1% +21.4% +17.3% +17.7%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2025 Guidance ー ー ー ー － 35 Apr 24, 2025 IFRS
Apr - Sep, 2025 Results 397,065 78,799 79,456 53,565 93.5 35 Oct 30, 2025 IFRS
Revision Rate － － － － －

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
Jul - Sep, 2024 188,668 32,992 33,385 23,487 40.9 17.5 Oct 30, 2024 IFRS
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
YoY +6.7% +25.9% +24.2% +17.4% +17.8%

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