Nomura Research Institute's board didn't just report a solid quarter, it moved to shrink the company. In the three months to June 2026, Japan's largest IT consultancy posted revenue of ¥210.5bn, up 7.5% from a year earlier, and operating profit rose 12.0% to ¥41.7bn, lifting its operating margin to 19.8% from 19.0%. Business profit, the underlying measure NRI uses to strip out one-off impairments, rose 11.9%, and profit attributable to parent-company owners climbed 12.4% to ¥29.2bn.
| Metric | Q1 (to June 2026) | Q1 (to June 2025) | Change |
|---|---|---|---|
| Revenue | ¥210,455mn | ¥195,770mn | +7.5% |
| Operating profit | ¥41,711mn | ¥37,246mn | +12.0% |
| Profit attributable to parent | ¥29,214mn | ¥26,000mn | +12.4% |
| Operating margin | 19.8% | 19.0% | +0.8pt |
The bigger story sat in the capital-return lines. NRI's board approved a buyback in April worth up to ¥70,000mn, capped at 21 million shares (3.66% of shares outstanding), to run from May 15 through August 31. By the end of June, the company had already repurchased 14.7 million shares for ¥69,999mn, essentially exhausting the entire authorization inside its first ten weeks. Separately, the board resolved in June to cancel 20,044,102 treasury shares, equal to 3.45% of shares outstanding before the cancellation, and completed the process on June 30. Together the two moves cut NRI's share count from 581.2 million to 561.2 million shares in a single quarter.
Overseas revenue, at ¥28.2bn, grew just 2.3%, trailing the group's overall pace, and its share of total sales slipped to 13.4% from 14.1% a year earlier. NRI left its full-year guidance unchanged, still targeting ¥850bn in revenue and ¥175bn in operating profit for the year to March 2027.