Overview
Information & Communication

Nomura Research Institute,Ltd.

Nomura Research Institute (NRI) is a leading Japanese think tank and IT solutions provider offering consulting services (research, management consulting, and systems consulting), IT development and packaged software, and outsourcing/shared-use platform services. The company serves clients across financial services (securities, insurance, banking), distribution, manufacturing, and public sectors, providing end-to-end solutions from strategic advisory through system implementation and operations. NRI's competitive strengths lie in its integrated approach combining think tank insights with large-scale IT infrastructure, deep domain expertise in financial IT, and a growing suite of shared-use platform services that generate recurring revenue.

Market Cap
¥3,456B
US$22.0B
EV
¥3,515B
US$22.4B
Stock¥6,174▼-0.34%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
30.7
x
LTM EV/EBIT
56.0
x
LTM PER
187.1
x
LTM PBR
9.3
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-14.8%pt
1001
Oct 24, 25 – Oct 23, 26StockTOPIX
1Jul 31, 26Q1 FY2027/03 earnings announced
MC → EV Bridge
3,456BUS$22.0BMarket Cap235BUS$1.50B+ Debt132BUS$840M− Cash46.7BUS$298M− Inv. Sec.3.78BUS$24.1M+ NCI3,515BUS$22.4BEV
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Performance & Balance
Revenue 5Y (¥B)
612US$3.90B'22/3692US$4.41B'23/3737US$4.70B'24/3765US$4.88B'25/3815US$5.20B'26/3
EBITDA 5Y (¥B)
148US$945M'22/3157US$1.00B'23/3169US$1.08B'24/3184US$1.17B'25/3110US$699M'26/3
Net Income 5Y (¥B)
71.4US$456M'22/376.3US$487M'23/379.6US$508M'24/393.8US$598M'25/315.3US$97.3M'26/3
Capital Structure
61%
39%
EquityD/E 0.63xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
116US$737M250US$1.60B'22/3129US$824M238US$1.52B'23/3174US$1.11B299US$1.90B'24/3169US$1.08B271US$1.73B'25/3133US$846M236US$1.51B'26/3
Shareholders
Top 10 hold 56.2%
1
Nomura Holdings, Inc.
20.14%
2
The Master Trust Bank of Japan, Ltd. (Trust Account)
12.85%
3
Custody Bank of Japan, Ltd. (Trust Account)
5.38%
4
Nippon Life Insurance Company (Standing Proxy: The Master Trust Bank of Japan, Ltd.)
4.30%
5
Employee Stock Ownership Association
4.05%
6
NOMURA PROPERTIES, INC.
2.81%
7
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
1.86%
8
National Mutual Insurance Federation of Agricultural Cooperatives (Standing Proxy: The Master Trust Bank of Japan, Ltd.)
1.71%
9
STATE STREET BANK AND TRUST COMPANY 505223 (Standing Proxy: Mizuho Bank, Ltd.)
1.57%
10
JP MORGAN CHASE BANK 385781 (Standing Proxy: Mizuho Bank, Ltd.)
1.54%
Management
13 officers
Shingo KONOMOTO
Director, Chairman, Chairman of the Board of Directors
Apr 1985 Joined the Company Apr 2004 Executive Officer, General Manager, Consulting Third Business Division Apr 2010 Managing Executive Officer, General Manager, Consulting Business Division Apr 2015 Senior Managing Executive Officer, in charge of Business Division and Consulting Business Jun 2015 Representative Director, Senior Managing Executive Officer, in charge of Business Division and Consulting Business Apr 2016 Representative Director, President Jun 2019 Representative Director, Chairman and President Apr 2024 Representative Director, Chairman Jun 2024 Director, Chairman of the Board of Directors (current)
1960-02-11
Hanae YANAGISAWA
Representative Director, President
Apr 1991 Joined the Company Apr 2019 Managing Officer, Deputy in charge of Human Resources and Human Resource Development Apr 2021 Executive Officer, in charge of Human Resources and Human Resource Development, Deputy in charge of Corporate Planning Apr 2023 Managing Executive Officer, in charge of Business Strategy, Corporate Communications and IR; General Manager, Comprehensive Planning Center Apr 2024 President of the Company Jun 2024 Representative Director, President (current)
1967-05-03
Masaaki YAMASAKI
Representative Director, Senior Managing Executive Officer, in charge of Corporate Division and Head Office Functions
Apr 1992 Joined the Company Apr 2017 Managing Officer, Deputy General Manager, Securities Solutions Business Division Apr 2020 Executive Officer, Deputy General Manager, Securities Solutions Business Division Apr 2023 Executive Officer, General Manager, Financial IT Innovation Business Division, and Deputy General Manager, Securities Solutions Business Division Apr 2024 Managing Executive Officer, in charge of Head Office Functions, Sustainability Promotion, Corporate Communications and IR Apr 2025 Managing Executive Officer, in charge of Corporate Division, Head Office Functions, Business Strategy and IR Jun 2025 Director, Managing Executive Officer, in charge of Corporate Division, Head Office Functions, Business Strategy and IR Apr 2026 Representative Director, Senior Managing Executive Officer, in charge of Corporate Division and Head Office Functions (current)
1967-08-10
Hiroyuki NAKAYAMA
Director, Senior Managing Executive Officer, in charge of Business Division and Financial IT Solutions Business
Apr 1990 Joined the Company Apr 2021 Managing Officer, Deputy General Manager, Financial IT Innovation Business Division and Securities Solutions Business Division, Deputy General Manager, Asset Management Solutions Business Division Apr 2022 Executive Officer, General Manager, Securities Solutions Business Division Apr 2023 Managing Executive Officer, in charge of Financial Strategy and Securities and Asset Management Solutions Business; General Manager, Securities Solutions Business Division Apr 2024 Managing Executive Officer, in charge of Financial IT Solutions Business; General Manager, Securities Solutions Business Division Apr 2026 Senior Managing Executive Officer, in charge of Business Division and Financial IT Solutions Business Jun 2026 Director, Senior Managing Executive Officer, in charge of Business Division and Financial IT Solutions Business (current)
1967-06-27
Hideki KOBORI
Director
Apr 1978 Joined Asahi Kasei Industries Corporation (now Asahi Kasei Corporation) Apr 2008 Director, Managing Executive Officer, Asahi Kasei Electronics Co., Ltd. Apr 2010 Representative Director, President, Asahi Kasei Electronics Co., Ltd. Apr 2012 Managing Executive Officer, Asahi Kasei Corporation Jun 2012 Director, Managing Executive Officer, Asahi Kasei Corporation Apr 2014 Representative Director, Senior Managing Executive Officer, Asahi Kasei Corporation Apr 2016 Representative Director, President, Asahi Kasei Corporation Apr 2022 Representative Director, Chairman, Asahi Kasei Corporation Apr 2023 Director, Chairman, Asahi Kasei Corporation (current) Jun 2023 Director of the Company (current)
1955-02-02
Yoichi INADA
Director, Audit and Supervisory Committee Member (Full-time)
Apr 1988 Joined the Company Apr 2012 Executive Officer, Deputy General Manager, Service and Industrial Solutions Business Division No. 2 Apr 2015 Executive Officer, General Manager, Quality Management Division; in charge of Integrated Risk Management, Information Systems and Information Security Apr 2017 Managing Executive Officer, General Manager, Distribution and Telecommunications Solutions Business Division Apr 2023 Councilor Jun 2023 Corporate Auditor Jun 2025 Director, Audit and Supervisory Committee Member (current)
1964-12-13
Takeshi HIHARA
Director, Audit and Supervisory Committee Member (Full-time)
Apr 1991 Joined the Company Apr 2017 Managing Officer, Deputy in charge of Business Strategy Apr 2019 Executive Officer, Deputy in charge of Corporate Planning, Business Strategy, Corporate Communications, and Legal and Intellectual Property Apr 2023 Managing Executive Officer, in charge of Head Office Functions and Sustainability Promotion Apr 2024 Councilor Jun 2024 Corporate Auditor Jun 2025 Director, Audit and Supervisory Committee Member (current)
1965-10-19
Kenkichi KOZAKAI
Director, Audit and Supervisory Committee Member
Apr 1976 Joined Mitsubishi Chemical Industries Ltd. (now Mitsubishi Chemical Corporation) Jun 2010 Director, Managing Executive Officer, Mitsubishi Tanabe Pharma Corporation (now Tanabe Pharma Corporation) Apr 2014 Managing Executive Officer, Mitsubishi Chemical Holdings Corporation (now Mitsubishi Chemical Group Corporation) Jun 2015 Representative Executive Officer, Senior Executive Vice President, Chief Financial Officer, Mitsubishi Chemical Holdings Corporation Apr 2017 Representative Executive Officer, Executive Vice President, Chief Financial Officer, Mitsubishi Chemical Holdings Corporation Jun 2017 Director, Representative Executive Officer, Executive Vice President, Chief Financial Officer, Mitsubishi Chemical Holdings Corporation Jun 2019 Advisor, Mitsubishi Chemical Holdings Corporation Jun 2021 Corporate Auditor of the Company Jun 2025 Director, Audit and Supervisory Committee Member (current)
1953-08-09
Hiroko KAWASAKI
Director, Audit and Supervisory Committee Member
Apr 1987 Joined Nippon Telegraph and Telephone Corporation (now NTT, Inc.) Jun 2000 Joined NTT DOCOMO, Inc. Jun 2017 Executive Officer, NTT DOCOMO, Inc.; President and Representative Director, DOCOMO CS Hokuriku, Inc. Jun 2021 Managing Director, DOCOMO Systems, Inc. Jun 2022 Director, Audit and Supervisory Committee Member, NTT DOCOMO, Inc. Jun 2023 Director, Audit and Supervisory Committee Member, ENEOS Holdings, Inc. Jun 2024 Director, Chairman of the Board, ENEOS Holdings, Inc. (current) Jun 2025 Director, Audit and Supervisory Committee Member of the Company (current)
1963-09-21
Toru OTSUKA
Director, Vice Chairman
Apr 1991 Joined Nomura Securities Co., Ltd. (now Nomura Holdings, Inc.) Apr 2018 Executive Officer, Nomura Holdings, Inc.; Executive Officer, Nomura Securities Co., Ltd. Apr 2021 Executive Officer, Nomura Holdings, Inc.; Managing Director, Nomura Securities Co., Ltd. Apr 2024 Executive Officer, Nomura Holdings, Inc. Nov 2024 Managing Director (Executive Officer), Nomura Securities Co., Ltd. Apr 2025 Director, Nomura Securities Co., Ltd. Apr 2026 Advisor, Nomura Securities Co., Ltd. Jun 2026 Director, Vice Chairman of the Company (current)
1967-06-05
Eriko ASAI
Director
Apr 1992 Joined Sony Corporation (now Sony Group Corporation) Dec 2003 Joined Microsoft Co., Ltd. (now Microsoft Japan Co., Ltd.) May 2011 Joined GE Healthcare Japan Corporation Feb 2013 Executive Officer, General Electric Japan Corporation (now GE Japan Corporation) Apr 2015 Senior Managing Executive Officer, General Electric Japan Corporation Jan 2018 Representative Director, President, GE Japan Corporation Aug 2023 Director, Co-Founder and Partner, Trinity Indo-Pacific Partners Pte. Ltd. (current) Jun 2025 Director of the Company (current)
1968-05-11
Taro FUJIE
Director
Apr 1985 Joined Ajinomoto Co., Inc. Jul 2011 President and Director, Ajinomoto Philippines Corporation Jun 2013 Executive Officer, Ajinomoto Co., Inc.; President and Director, Ajinomoto Philippines Corporation Jun 2015 Executive Officer, Ajinomoto Co., Inc.; President and Director, Ajinomoto do Brasil Jun 2017 Managing Executive Officer, Ajinomoto Co., Inc. Jun 2021 Senior Executive Officer, Ajinomoto Co., Inc. Apr 2022 Representative Executive Officer, President and Chief Executive Officer, Ajinomoto Co., Inc. Jun 2022 Director, Representative Executive Officer, President and Chief Executive Officer, Ajinomoto Co., Inc. Feb 2025 Director, Executive Chairman, Ajinomoto Co., Inc. Jun 2025 Executive Chairman, Ajinomoto Co., Inc. Apr 2026 Special Advisor, Ajinomoto Co., Inc. (current) Jun 2026 Director of the Company (current)
1961-10-25
Takayuki NAKAGAWA
Director, Audit and Supervisory Committee Member
Apr 1987 Joined Asahi Shinwa Accounting Firm (now KPMG AZSA LLC) Mar 1990 Registered as Certified Public Accountant Sep 1994 Joined Tokyo Akasaka Audit Corporation (now Gyosei & Co.) Jan 1999 Representative Partner, Tokyo Akasaka Audit Corporation Oct 1999 Executive Representative Partner, Tokyo Hokuto Audit Corporation (now Gyosei & Co.) Jul 2017 Vice Chairman, Representative Partner and Director of Tokyo Office, Gyosei & Co. (current) Jun 2025 Director, Audit and Supervisory Committee Member of the Company (current)
1964-01-28
Large Shareholding Reports
Nomura Holdings, Inc.
2026-10-05
16.98%→17.79%
Annual report (as of 2026-03-31): 20.14%
BlackRock Fund Advisors
2026-03-18
1.26%→1.64%
Disclosures
No disclosures
Primary Source Filings
EDINET
2026-10-05
Large Shareholding Report
TDnet
2026-07-30
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-15
Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-04-24
中期経営計画
EDINET
2026-03-18
Large Shareholding Report
TDnet
2026-01-29
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-13
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2025-07-28
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-18
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-01-30
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-13
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-07-25
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-24
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-13
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-13
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-10
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-26
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-13
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINETAmended
2023-02-13
Amended Annual Securities Report
Period: Apr 2020 – Mar 2021
EDINETAmended
2023-02-13
Amended Annual Securities Report
Period: Apr 2019 – Mar 2020
EDINET
2022-11-10
Quarterly Securities Report
EDINET
2022-08-12
Quarterly Securities Report
EDINET
2022-06-21
Annual Securities Report
EDINET
2022-02-10
Quarterly Securities Report
EDINET
2021-11-11
Quarterly Securities Report
EDINET
2021-08-12
Quarterly Securities Report
EDINET
2021-06-22
Annual Securities Report
EDINETAmended
2021-04-27
Amended Annual Securities Report
EDINET
2021-02-10
Quarterly Securities Report
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