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Nomura Research Institute (4307) investor relations material
Nomura Research Institute Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue and profit grew year-over-year, driven by robust domestic business, especially in Financial IT Solutions and IT Platform Services, while overseas business saw a decline in orders and profitability.
AI-related project orders surged 80% YoY, with full-scale implementation of an AI-based development platform planned for the second half.
The group continued to execute its Medium-term Management Plan (MTP2025), focusing on core business, digital transformation, global expansion, and management enhancements.
Social DX use cases and digital workplace services expanded, broadening customer segments and service domains.
Financial highlights
1H FY Mar. 2026 revenue rose 5.4% YoY to ¥397,065 million; operating profit up 20.1% to ¥78,799 million; operating margin improved to 19.8%.
Profit attributable to owners increased 17.3% YoY to ¥53,565 million; basic EPS rose to ¥93.53.
Gross profit increased 9.9% to ¥148,017 million, with gross profit margin at 37.3% in 1H, up 1.5 points YoY.
Free cash flow for 1H was ¥18,928 million, down 42.1% YoY.
Total assets as of September 30, 2025, were ¥994,514 million, up 7.1% from March 31, 2025.
Outlook and guidance
FY Mar. 2026 revenue forecast unchanged at ¥810 billion (+5.9% YoY); operating profit forecast at ¥150 billion (+11.2% YoY); profit attributable to owners forecast at ¥104 billion (+10.9% YoY).
Annual dividend per share forecast raised to ¥74.00, with a payout ratio of 40.8%.
Domestic business expected to continue expanding in project volume and profitability; structural reforms planned for overseas business in 2H.
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