Nomura Research Institute,Ltd.

Nomura Research Institute,Ltd.

NURAF
Nomura Research Institute,Ltd.US flagOther OTC
31.25
USD
- -
- -
17.52BMarket Cap
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
535.35
559.39
564.65
570.82
650.38
709.66
834.57
919.63
1,032.17
1,169.37
1,266.08
1,334.23
1,416.14
650.19
Basic EPS, GAAP
43.73
53.57
57.14
60.59
76.07
72.11
91.86
88.34
120.57
128.92
136.9
163.57
26.52
72.89
Free Cash Flow per Basic Share
-0.71
36.33
46.13
30.06
48.23
43.68
134.86
92.85
93.09
108.46
158.97
140.6
176.13
90.67
Dividend per Share
14.53
16.72
22.04
24.57
28.72
30.26
30.62
33.93
38.22
42.86
47.41
58.12
68.69
24.2
Book Value per Share
477.29
510.94
531.48
563.28
568.44
586.55
465.12
501.06
592.75
583.4
593.06
705.34
660.02
649.71
Tangible Book Value per Share
400.47
479.34
482.76
467.64
453.72
445.8
286.58
407.96
222.32
278.96
236.67
296.09
410.24
251.57
Basic Weighted Avg Shares
721
726
746
744
725
706
634
598
593
592
582
573
575
576
Sales/Revenue/Turnover
385,932
405,984
421,439
424,548
471,488
501,243
528,721
550,337
611,634
692,165
736,556
764,813
814,708
374,491
Operating Margin (%)
12.91
12.68
13.83
13.78
13.82
14.25
16.19
14.66
17.33
16.09
16.24
17.52
7.02
16.3
Depreciation Expense
34,118
25,800
32,598
28,476
31,941
30,427
39,383
40,911
41,941
45,092
48,157
48,910
51,275
24,405
Net Income, GAAP
31,527
38,880
42,648
45,064
55,145
50,931
58,195
52,867
71,445
76,307
79,643
93,762
15,257
41,981
Effective Tax Rate (%)
40.17
32.52
31.32
32.38
31.94
32.85
30.87
26.02
31.41
29.5
31.62
29.65
73.18
29.17
Profit Margin (%)
8.17
9.58
10.12
10.61
11.7
10.16
11.01
9.61
11.68
11.02
10.81
12.26
1.87
11.21
Working Capital
128,280
185,357
172,639
184,363
136,142
144,158
103,008
149,018
35,303
150,855
190,536
179,942
228,039
183,826
LT Debt
52,512
51,623
43,125
49,745
35,255
89,850
127,447
129,399
121,227
208,145
274,300
222,714
213,114
251,514
Total Equity
331,406
403,466
425,406
447,296
432,672
399,382
264,726
333,206
342,486
402,405
403,021
437,958
438,002
409,737
Return on Invested Capital (%)
7.85
7.99
8.22
7.78
8.46
9.13
12.45
12.67
12.97
12.4
11.87
12.93
2.14
6.26
Return on Capital (%)
8.11
8.96
9.24
9.63
10.94
9.7
11.77
13.29
13.7
13.44
13.57
14.66
2.46
6.82
Return on Common Equity (%)
9.47
10.88
11.11
11.05
13.27
12.33
16.42
17.78
21.95
21.91
23.07
25.03
3.89
11.28

Capital Structure

FRC

in mil. unless spec.
Mar'24
Jun'25
Sep'25
ST Debt
24,238
- -
24,909
LT Borrowings
253,864
- -
235,324
LT Finance Leases
20,436
- -
16,190
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
576
- -
573
Market Capitalization
2,510,418
2,625,452
3,241,256

Working Capital

FRC

in mil. unless spec.
Mar'24
Jun'25
Sep'25
Total Current Assets
405,178
- -
383,661
Cash, Cash Equivalents & STI
187,917
- -
166,658
Accounts Receivable, Net
141,870
- -
121,604
Inventories
- -
- -
- -
Total Current Liabilities
214,642
- -
199,835
Payables & Accruals
- -
- -
- -
ST Debt
24,238
- -
24,909
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
1.55%
5.82%
0.01%
Free Cash Flow
22.41%
14.52%
25.73%
Net Income, GAAP
0.58%
-3.94%
-83.73%
Sales/Revenue/Turnover
6.88%
8.22%
6.52%
Total Cash Common Dividend
9.48%
14.33%
18.62%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
176,709
185,355
187,954
186,537
736,556
2025
- -
- -
- -
- -
764,813
2026
- -
- -
- -
- -
814,708

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
29.15
35
40.65
- -
136.9
2025
- -
- -
- -
- -
163.57
2026
- -
- -
- -
- -
26.52

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
23.16
-0.05
24.18
- -
47.41
2025
- -
- -
- -
- -
58.12
2026
- -
- -
- -
- -
68.69

Company Description

APIChatGPT
CEO
Kaga Yanagisawa
Full Time Employees
16,894
Sector
Technology
Industry
Information Technology Services
Address
Otemachi Financial City Grand Cube Tokyo TY Japan 100-0004
IPO Date
Oct 27, 2017
Website
nri.com
Business
Nomura Research Institute, Ltd. (NRI) provides consulting services, financial IT solutions, industrial IT solutions, and IT platform services primarily in Japan and internationally. Founded in 1965 and headquartered at Otemachi Financial City Grand Cube in Tokyo, Japan, the company operates through four main segments: Consulting, which delivers management, operational, and system consulting to enterprises and government agencies along with research on society, economics, business, and technology; Financial IT Solutions, offering system consulting, development, management, shared online systems, and business process outsourcing (BPO) for securities, insurance, banking, asset management, and other financial institutions including products like STAR-IV, T-STAR, and BESTWAY; Industrial IT Solutions, providing system consulting, development, management, and shared online services for distribution, manufacturing, service, and public sectors; and IT Platform Services, which handles data center operations, IT infrastructure construction, networks, information security, and advanced IT research for internal segments and external clients. NRI serves diverse industries such as finance, healthcare, transportation, automotive, retail, and public sectors, targeting corporations, financial institutions, and government entities across Japan, the United States, Europe, Asia-Pacific, and other regions with over 16,679 employees globally including subsidiaries like Nomura Research Institute America, Inc., Nomura Research Institute Europe Limited, and Nomura Research Institute Asia Pacific. Recent developments include the acquisition of Core BTS, Inc., a U.S.-based IT consulting and managed services provider, completed in 2025 to bolster digital transformation capabilities in North America; earlier purchases of Cutter Associates, LLC, Planit Test Management Solutions Pty Ltd, Australian Investment Exchange Limited, Nippon Securities Technology Co., Ltd., and Daiko Clearing Services Corporation; and the establishment of new subsidiaries such as Nomura Research Institute Financial Technologies India Pvt. Ltd., Nomura Research Institute Thailand, and NRI digital, Ltd., alongside ongoing investments in AI, cloud services, security, and digital transformation solutions.

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