Nomura Research Institute (4307) AI Stock Analysis

• Market Cap: ¥2.55T
• Dividend Yield: 1.14%
• Average Volume (3M): 1.18M
• Price to Earnings (P/E): 29.1
• Beta (1Y): 0.40
• Revenue Growth: 4.50%
• EPS Growth: 16.63%
• Country: JP
• Employees: 16,708
• Sector: Technology
• Sector Strength: 88
• Industry: Information Technology Services
• EPS (TTM): N/A
• Shares Outstanding: 581,241,500
• 10 Day Avg. Volume: 1,327,730
• 30 Day Avg. Volume: 1,182,226
• PEG Ratio: 1.52
• Price to Book (P/B): 6.39
• Price to Sales (P/S): 3.62
• P/FCF Ratio: 22.44
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ¥5,850.98
• Price Target Upside: 30.25% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 68 Neutral
• Price Target: ¥4,535.00 ▲(0.96% Upside)
• Action: Reiterated Date: 02/27/26
• Date: Action: Reiterated 02/27/26

The score is supported primarily by strong financial performance (healthy margins, high ROE, and solid cash conversion with improving leverage). This is partially offset by weak technical signals, including a sharp downtrend versus major moving averages and negative MACD. Valuation is reasonable with a modest dividend yield, but not compelling enough to overcome the bearish technical setup.

Positive Factors

Strong profitability & margins

Sustained high gross, operating and net margins together with a ~22.9% ROE indicate durable operating leverage and efficient capital deployment. For an IT services and consulting firm, this supports reinvestment in platforms, attracts talent, and underpins long-term cash generation and competitiveness.

Negative Factors

Moderating revenue growth

Slower top-line momentum points to a transition from high-growth to more mature growth rates; this can limit the pace at which scale-driven margin gains and market share expansion occur. For a services firm, slower revenue growth makes operational efficiency and client retention more critical.

Nomura Research Institute Business Overview & Revenue Model

Company Description

Nomura Research Institute, Ltd. provides consulting, financial information technology (IT) solution, industrial IT solution, and IT platform services in Japan. Its Consulting segment offers management, operational, and system consulting services f...

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Nomura Research Institute, Ltd. provides consulting, financial information technology (IT) solution, industrial IT solution, and IT platform services in Japan. Its Consulting segment offers management, operational, and system consulting services f...

How the Company Makes Money

NRI generates revenue through multiple streams, primarily from consulting services, systems integration, and software development. The consulting services include strategic advisory and management consulting, which are billed on a project basis, w...

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NRI generates revenue through multiple streams, primarily from consulting services, systems integration, and software development. The consulting services include strategic advisory and management consulting, which are billed on a project basis, w...

Nomura Research Institute Financial Statement Overview

Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	798.90B	764.81B	736.56B	692.16B	611.63B	550.34B
Gross Profit	293.78B	275.30B	261.01B	239.83B	216.07B	185.80B
EBITDA	202.70B	182.74B	167.09B	154.67B	144.60B	123.82B
Net Income	105.17B	93.76B	79.64B	76.31B	71.44B	52.87B
Balance Sheet
Total Assets	948.54B	928.50B	922.77B	838.22B	789.65B	656.54B
Cash, Cash Equivalents and Short-Term Investments	108.66B	168.60B	173.94B	129.26B	115.61B	153.19B
Total Debt	236.16B	271.02B	298.54B	237.74B	250.42B	165.59B
Total Liabilities	442.97B	490.54B	519.75B	435.81B	447.17B	323.33B
Stockholders Equity	501.66B	434.04B	399.53B	399.01B	339.36B	330.50B
Cash Flow
Free Cash Flow	137.90B	123.54B	134.79B	106.84B	91.31B	76.96B
Operating Cash Flow	143.42B	130.20B	142.28B	118.90B	98.14B	84.59B
Investing Cash Flow	-92.50B	-47.59B	-53.98B	-61.19B	-130.55B	-31.85B
Financing Cash Flow	-87.45B	-87.31B	-47.02B	-44.92B	-8.00B	-1.86B

Nomura Research Institute Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 4492.00
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:4307, the sentiment is Positive. The current price of 4492 is above the 20-day moving average (MA) of 4354.73, above the 50-day MA of 4265.91, and below the 200-day MA of 5424.05, indicating a neutral trend. The MACD of 42.64 indicates Negative momentum. The RSI at 55.27 is Neutral, neither overbought nor oversold. The STOCH value of 52.94 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:4307.

Nomura Research Institute Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3636	77 Outperform	¥75.52B	7.46	―	3.28%	5.28%	28.90%
4307	68 Neutral	¥2.55T	29.12	22.48%	1.14%	4.50%	16.63%
8056	67 Neutral	¥416.43B	18.98	―	2.17%	10.42%	28.75%
3626	64 Neutral	¥756.11B	20.55	―	1.39%	4.95%	9.54%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
2327	57 Neutral	¥679.64B	22.20	10.07%	1.76%	11.66%	-0.21%

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