Nomura Research Institute

Financial history

Revenue · FYE Mar 2026: ¥815bn
Operating profit · FYE Mar 2026: ¥58bn
Net profit · FYE Mar 2026: ¥15bn
Total assets: ¥960bn
Equity ratio: 44.8%
Long-term series: 1997–2026

Nomura Research Institute: long-term performance & turning pointsSales (revenue) and profit-margin ratio

Sales (¥ bn)Net margin (%)

Long-term results, every fiscal year on record (¥ bn). Scroll sideways for earlier years.
Fiscal year	Unit	1997 ^*1 FYE Mar	1998 ^*1 FYE Mar	1999 ^*1 FYE Mar	2000 ^*1 FYE Mar	2001 ^*1 FYE Mar	2002 ^*1 FYE Mar	2003 ^*1 FYE Mar	2004 ^*1 FYE Mar	2005 ^*1 FYE Mar	2006 ^*1 FYE Mar	2007 ^*1 FYE Mar	2008 ^*1 FYE Mar	2009 ^*1 FYE Mar	2010 ^*1 FYE Mar	2011 ^*1 FYE Mar	2012 ^*1 FYE Mar	2013 ^*1 FYE Mar	2014 ^*1 FYE Mar	2015 ^*1 FYE Mar	2016 ^*1 FYE Mar	2017 ^*1 FYE Mar	2018 ^*1 FYE Mar	2019 ^*1 FYE Mar	2020 ^*1 FYE Mar	2021 ^*1 FYE Mar	2022 ^*1 FYE Mar	2023 ^*1 FYE Mar	2024 ^*1 FYE Mar	2025 ^*1 FYE Mar	2026 ^*1 FYE Mar
Revenue	JPY	¥167bn	¥158bn	¥175bn	¥184bn	¥218bn	¥237bn	¥233bn	¥238bn	¥253bn	¥286bn	¥323bn	¥342bn	¥341bn	¥339bn	¥326bn	¥336bn	¥364bn	¥386bn	¥406bn	¥421bn	¥425bn	¥471bn	¥501bn	¥529bn	¥550bn	¥612bn	¥692bn	¥737bn	¥765bn	¥815bn
YoY	%	—	-5.8%	+11.0%	+4.9%	+18.7%	+8.5%	-1.6%	+2.3%	+6.3%	+12.9%	+13.0%	+6.1%	-0.3%	-0.8%	-3.6%	+2.8%	+8.4%	+6.1%	+5.2%	+3.8%	+0.7%	+11.0%	+6.3%	+5.5%	+4.1%	+11.1%	+13.2%	+6.4%	+3.8%	+6.5%
Operating profit	JPY	—	—	—	—	—	—	—	—	—	¥37bn	¥44bn	¥53bn	¥50bn	¥40bn	¥38bn	¥43bn	¥44bn	¥50bn	¥52bn	¥58bn	¥59bn	¥65bn	¥71bn	¥86bn	¥81bn	¥106bn	¥112bn	¥120bn	¥135bn	¥58bn
YoY	%	—	—	—	—	—	—	—	—	—	—	+20.3%	+20.0%	-5.7%	-19.3%	-4.2%	+12.5%	+1.9%	+13.2%	+3.4%	+13.2%	+0.3%	+11.3%	+9.7%	+19.9%	-5.7%	+31.6%	+5.3%	+7.7%	+12.0%	-56.8%
Ordinary profit	JPY	—	—	—	—	—	—	—	—	¥31bn	¥38bn	¥46bn	¥56bn	¥52bn	¥41bn	¥40bn	¥45bn	¥46bn	¥52bn	¥53bn	¥61bn	—	—	—	—	—	—	—	—	—	—
Net profit	JPY	¥5.7bn	¥4.8bn	¥8.1bn	¥5.1bn	¥25bn	¥22bn	¥15bn	¥18bn	¥16bn	¥23bn	¥27bn	¥28bn	¥25bn	¥22bn	¥23bn	¥33bn	¥29bn	¥32bn	¥39bn	¥43bn	¥45bn	¥55bn	¥51bn	¥69bn	¥68bn	¥71bn	¥76bn	¥80bn	¥94bn	¥15bn
YoY	%	—	-15.8%	+68.7%	-37.0%	+396.1%	-11.9%	-30.9%	+18.2%	-10.4%	+38.0%	+20.0%	+4.1%	-12.8%	-11.0%	+6.0%	+42.4%	-13.1%	+10.1%	+23.2%	+9.8%	+5.6%	+22.4%	-7.6%	+36.0%	-1.6%	+4.8%	+6.9%	+4.3%	+17.7%	-83.7%
Operating margin	%	—	—	—	—	—	—	—	—	—	12.8%	13.6%	15.4%	14.6%	11.8%	11.8%	12.9%	12.1%	12.9%	12.7%	13.8%	13.8%	13.8%	14.2%	16.2%	14.7%	17.4%	16.2%	16.3%	17.6%	7.2%
Net margin	%	3.4%	3.0%	4.6%	2.8%	11.6%	9.4%	6.6%	7.6%	6.4%	7.9%	8.4%	8.2%	7.2%	6.4%	7.1%	9.8%	7.9%	8.2%	9.6%	10.1%	10.6%	11.7%	10.2%	13.1%	12.4%	11.7%	11.0%	10.8%	12.3%	1.9%

*1 Securities report

Cost structure Cost of sales SG&A Other operating costs Operating profit Operating margin

Where each yen of revenue goes — cost of sales, SG&A and what is left as operating profit (¥ bn, stacked)

Revenue and its cost lines, every year the breakdown was filed (¥ bn).
Fiscal year	Unit	2006 ^*1 FYE Mar	2007 ^*1 FYE Mar	2008 ^*1 FYE Mar	2009 ^*1 FYE Mar	2010 ^*1 FYE Mar	2011 ^*1 FYE Mar	2012 ^*1 FYE Mar	2013 ^*1 FYE Mar	2014 ^*1 FYE Mar	2015 ^*1 FYE Mar	2016 ^*1 FYE Mar	2017 ^*1 FYE Mar	2018 ^*1 FYE Mar	2019 ^*1 FYE Mar	2020 ^*1 FYE Mar	2021 ^*1 FYE Mar	2022 ^*1 FYE Mar	2023 ^*1 FYE Mar	2024 ^*1 FYE Mar	2025 ^*1 FYE Mar	2026 ^*1 FYE Mar
Revenue	JPY	¥286bn	¥323bn	¥342bn	¥341bn	¥339bn	¥326bn	¥336bn	¥364bn	¥386bn	¥406bn	¥421bn	¥425bn	¥471bn	¥501bn	¥529bn	¥550bn	¥612bn	¥692bn	¥737bn	¥765bn	¥815bn
YoY	%	—	+12.9%	+6.1%	-0.3%	-0.8%	-3.6%	+2.8%	+8.4%	+6.1%	+5.2%	+3.8%	+0.7%	+11.1%	+6.3%	+5.5%	+4.1%	+11.1%	+13.2%	+6.4%	+3.8%	+6.5%
Cost of sales	JPY	¥214bn	¥235bn	¥239bn	¥241bn	¥246bn	¥233bn	¥236bn	¥262bn	¥277bn	¥289bn	¥287bn	¥281bn	¥312bn	¥337bn	¥346bn	¥365bn	¥396bn	¥452bn	¥476bn	¥490bn	¥515bn
SG&A	JPY	¥35bn	¥44bn	¥51bn	¥51bn	¥53bn	¥55bn	¥57bn	¥58bn	¥59bn	¥65bn	¥76bn	¥85bn	¥94bn	¥93bn	¥97bn	¥98bn	¥114bn	¥132bn	¥142bn	¥144bn	¥146bn
Other operating costs	JPY	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	¥6.8bn	—	—	—	—	¥96bn
Operating profit	JPY	¥36bn	¥44bn	¥53bn	¥50bn	¥40bn	¥38bn	¥43bn	¥44bn	¥50bn	¥51bn	¥58bn	¥59bn	¥65bn	¥71bn	¥86bn	¥81bn	¥106bn	¥112bn	¥120bn	¥135bn	¥58bn
YoY	%	—	+20.4%	+20.0%	-5.6%	-19.4%	-4.1%	+12.3%	+2.0%	+13.2%	+3.4%	+13.2%	+0.4%	+11.3%	+9.7%	+19.9%	-5.7%	+31.5%	+5.3%	+7.7%	+12.0%	-56.8%
Operating margin	%	12.8%	13.6%	15.4%	14.6%	11.8%	11.8%	12.9%	12.1%	12.9%	12.7%	13.8%	13.8%	13.8%	14.3%	16.2%	14.7%	17.4%	16.2%	16.3%	17.6%	7.2%
Change	pp	—	+0.8pp	+1.8pp	-0.8pp	-2.8pp	0.0pp	+1.1pp	-0.8pp	+0.8pp	-0.2pp	+1.1pp	0.0pp	0.0pp	+0.5pp	+1.9pp	-1.5pp	+2.7pp	-1.2pp	+0.1pp	+1.3pp	-10.4pp

*1 Securities report (yuka shoken hokokusho), as filed

Balance sheet Total assets Equity Interest-bearing debt Equity ratio

Total assets, equity and interest-bearing debt (¥ bn), with the equity ratio (%)

Balance-sheet totals, every year on record (¥ bn).
Fiscal year	Unit	2005 ^*1 FYE Mar	2006 ^*1 FYE Mar	2007 ^*1 FYE Mar	2008 ^*1 FYE Mar	2009 ^*1 FYE Mar	2010 ^*1 FYE Mar	2011 ^*1 FYE Mar	2012 ^*1 FYE Mar	2013 ^*1 FYE Mar	2014 ^*1 FYE Mar	2015 ^*1 FYE Mar	2016 ^*1 FYE Mar	2017 ^*1 FYE Mar	2018 ^*1 FYE Mar	2019 ^*1 FYE Mar	2020 ^*1 FYE Mar	2021 ^*1 FYE Mar	2022 ^*1 FYE Mar	2023 ^*1 FYE Mar	2024 ^*1 FYE Mar	2025 ^*1 FYE Mar	2026 ^*1 FYE Mar
Total assets	JPY	¥317bn	¥312bn	¥371bn	¥362bn	¥354bn	¥363bn	¥380bn	¥403bn	¥432bn	¥469bn	¥593bn	¥622bn	¥629bn	¥643bn	¥612bn	¥533bn	¥630bn	¥790bn	¥838bn	¥923bn	¥929bn	¥960bn
YoY	%	—	-1.8%	+19.1%	-2.4%	-2.2%	+2.5%	+4.6%	+6.0%	+7.3%	+8.5%	+26.5%	+4.8%	+1.2%	+2.3%	-4.8%	-12.9%	+18.2%	+25.3%	+6.2%	+10.1%	+0.6%	+3.4%
Equity	JPY	¥232bn	¥209bn	¥216bn	¥207bn	¥205bn	¥219bn	¥230bn	¥258bn	¥291bn	¥331bn	¥390bn	¥413bn	¥436bn	¥420bn	¥412bn	¥272bn	¥354bn	¥336bn	¥396bn	¥396bn	¥430bn	¥430bn
YoY	%	—	-9.7%	+3.2%	-4.3%	-1.0%	+7.1%	+4.9%	+12.4%	+12.6%	+14.0%	+17.8%	+5.7%	+5.6%	-3.5%	-2.0%	-34.0%	+30.1%	-4.9%	+17.7%	+0.1%	+8.6%	-0.1%
Interest-bearing debt	JPY	—	—	—	—	¥50bn	¥50bn	¥62bn	¥59bn	¥57bn	¥54bn	¥32bn	¥30bn	¥27bn	¥6.5bn	¥20bn	¥103bn	¥117bn	¥208bn	¥203bn	¥267bn	¥246bn	¥204bn
Equity ratio	%	73.0%	67.1%	58.1%	57.0%	57.7%	60.3%	60.5%	64.1%	67.3%	70.7%	65.8%	66.4%	69.3%	65.4%	67.3%	51.0%	56.1%	42.6%	47.2%	42.9%	46.3%	44.8%
Change	pp	—	-5.9pp	-9.0pp	-1.1pp	+0.7pp	+2.6pp	+0.2pp	+3.6pp	+3.2pp	+3.4pp	-4.9pp	+0.6pp	+2.9pp	-3.9pp	+1.9pp	-16.3pp	+5.1pp	-13.5pp	+4.6pp	-4.3pp	+3.4pp	-1.5pp

*1 Securities report (yuka shoken hokokusho), as filed

Cash flow Operating CF Investing CF Financing CF

Cash generated by operations, spent on investment and raised or repaid in financing (¥ bn)

Cash flows as filed, every year on record (¥ bn). A negative figure is cash out.
Fiscal year	Unit	2005 ^*1 FYE Mar	2006 ^*1 FYE Mar	2007 ^*1 FYE Mar	2008 ^*1 FYE Mar	2009 ^*1 FYE Mar	2010 ^*1 FYE Mar	2011 ^*1 FYE Mar	2012 ^*1 FYE Mar	2013 ^*1 FYE Mar	2014 ^*1 FYE Mar	2015 ^*1 FYE Mar	2016 ^*1 FYE Mar	2017 ^*1 FYE Mar	2018 ^*1 FYE Mar	2019 ^*1 FYE Mar	2020 ^*1 FYE Mar	2021 ^*1 FYE Mar	2022 ^*1 FYE Mar	2023 ^*1 FYE Mar	2024 ^*1 FYE Mar	2025 ^*1 FYE Mar	2026 ^*1 FYE Mar
Operating CF	JPY	¥28bn	¥49bn	¥40bn	¥32bn	¥46bn	¥58bn	¥49bn	¥53bn	¥69bn	¥34bn	¥59bn	¥81bn	¥61bn	¥73bn	¥56bn	¥103bn	¥74bn	¥98bn	¥119bn	¥142bn	¥130bn	¥148bn
YoY	%	—	+77.3%	-19.0%	-19.6%	+45.2%	+25.7%	-16.0%	+8.8%	+29.3%	-50.7%	+73.5%	+38.8%	-24.9%	+20.2%	-23.3%	+82.4%	-28.1%	+32.7%	+21.2%	+19.7%	-8.5%	+13.4%
Investing CF	JPY	-¥82bn	¥18bn	-¥19bn	-¥48bn	-¥71bn	-¥16bn	-¥28bn	-¥48bn	-¥36bn	-¥32bn	-¥1.1bn	-¥75bn	-¥30bn	-¥18bn	-¥17bn	¥18bn	-¥21bn	-¥131bn	-¥61bn	-¥53bn	-¥48bn	-¥97bn
Financing CF	JPY	-¥3.9bn	-¥55bn	¥44bn	-¥24bn	-¥22bn	-¥10bn	¥1.6bn	-¥10bn	-¥11bn	-¥8.8bn	-¥11bn	¥9.3bn	-¥34bn	-¥47bn	-¥73bn	-¥140bn	-¥2.5bn	-¥8.0bn	-¥45bn	-¥48bn	-¥87bn	-¥91bn
Cash & equivalents	JPY	¥39bn	¥51bn	¥116bn	¥76bn	¥28bn	¥60bn	¥82bn	¥77bn	¥100bn	¥93bn	¥141bn	¥155bn	¥152bn	¥158bn	¥123bn	¥101bn	¥153bn	¥116bn	¥129bn	¥174bn	¥169bn	¥133bn
YoY	%	—	+31.2%	+128.3%	-34.8%	-62.6%	+111.8%	+37.3%	-6.1%	+29.3%	-6.9%	+51.5%	+10.2%	-1.9%	+4.1%	-22.2%	-18.2%	+52.0%	-24.5%	+11.8%	+34.6%	-3.1%	-21.3%

*1 Securities report (yuka shoken hokokusho), as filed

Key ratios Operating margin Net margin ROE Equity ratio

Profitability and balance-sheet strength (%). ROE uses year-end equity.

Ratios by fiscal year (%), with the year-on-year move in percentage points. Derived from the filed figures above.
Fiscal year	Unit	2002 ^*1 FYE Mar	2003 ^*1 FYE Mar	2004 ^*1 FYE Mar	2005 ^*1 FYE Mar	2006 ^*1 FYE Mar	2007 ^*1 FYE Mar	2008 ^*1 FYE Mar	2009 ^*1 FYE Mar	2010 ^*1 FYE Mar	2011 ^*1 FYE Mar	2012 ^*1 FYE Mar	2013 ^*1 FYE Mar	2014 ^*1 FYE Mar	2015 ^*1 FYE Mar	2016 ^*1 FYE Mar	2017 ^*1 FYE Mar	2018 ^*1 FYE Mar	2019 ^*1 FYE Mar	2020 ^*1 FYE Mar	2021 ^*1 FYE Mar	2022 ^*1 FYE Mar	2023 ^*1 FYE Mar	2024 ^*1 FYE Mar	2025 ^*1 FYE Mar	2026 ^*1 FYE Mar
Operating margin	%	—	—	—	—	12.8%	13.6%	15.4%	14.6%	11.8%	11.8%	12.9%	12.1%	12.9%	12.7%	13.8%	13.8%	13.8%	14.3%	16.2%	14.7%	17.4%	16.2%	16.3%	17.6%	7.2%
Change	pp	—	—	—	—	—	+0.8pp	+1.8pp	-0.8pp	-2.8pp	0.0pp	+1.1pp	-0.8pp	+0.8pp	-0.2pp	+1.1pp	0.0pp	0.0pp	+0.5pp	+1.9pp	-1.5pp	+2.7pp	-1.2pp	+0.1pp	+1.3pp	-10.4pp
Net margin	%	9.4%	6.6%	7.6%	6.4%	7.9%	8.4%	8.2%	7.2%	6.5%	7.1%	9.8%	7.9%	8.2%	9.6%	10.1%	10.6%	11.7%	10.2%	13.1%	12.4%	11.7%	11.0%	10.8%	12.3%	1.9%
Change	pp	—	-2.8pp	+1.0pp	-1.2pp	+1.5pp	+0.5pp	-0.2pp	-1.0pp	-0.7pp	+0.6pp	+2.7pp	-1.9pp	+0.3pp	+1.4pp	+0.5pp	+0.5pp	+1.1pp	-1.5pp	+2.9pp	-0.7pp	-0.7pp	-0.7pp	-0.2pp	+1.5pp	-10.4pp
ROE	%	—	—	—	7.0%	10.8%	12.5%	13.6%	12.0%	10.0%	10.1%	12.7%	9.8%	9.5%	10.0%	10.3%	10.3%	13.1%	12.4%	25.5%	19.3%	21.2%	19.3%	20.1%	21.8%	3.5%
Change	pp	—	—	—	—	+3.8pp	+1.7pp	+1.1pp	-1.6pp	-2.0pp	+0.1pp	+2.6pp	-2.9pp	-0.3pp	+0.5pp	+0.3pp	0.0pp	+2.8pp	-0.7pp	+13.1pp	-6.2pp	+1.9pp	-1.9pp	+0.8pp	+1.7pp	-18.3pp
Equity ratio	%	—	—	—	73.0%	67.1%	58.1%	57.0%	57.7%	60.3%	60.5%	64.1%	67.3%	70.7%	65.8%	66.4%	69.3%	65.4%	67.3%	51.0%	56.1%	42.6%	47.2%	42.9%	46.3%	44.8%
Change	pp	—	—	—	—	-5.9pp	-9.0pp	-1.1pp	+0.7pp	+2.6pp	+0.2pp	+3.6pp	+3.2pp	+3.4pp	-4.9pp	+0.6pp	+2.9pp	-3.9pp	+1.9pp	-16.3pp	+5.1pp	-13.5pp	+4.6pp	-4.3pp	+3.4pp	-1.5pp

*1 Securities report (yuka shoken hokokusho), as filed

Reporting basis

Which accounting standard each fiscal year was filed under. Figures are not strictly comparable across a change of standard.

Accounting standard and reporting basis, by fiscal year.
Fiscal year	Unit	2001 ^*1 FYE Mar	2002 ^*1 FYE Mar	2003 ^*1 FYE Mar	2004 ^*1 FYE Mar	2005 ^*1 FYE Mar	2006 ^*1 FYE Mar	2007 ^*1 FYE Mar	2008 ^*1 FYE Mar	2009 ^*1 FYE Mar	2010 ^*1 FYE Mar	2011 ^*1 FYE Mar	2012 ^*1 FYE Mar	2013 ^*1 FYE Mar	2014 ^*1 FYE Mar	2015 ^*1 FYE Mar	2016 ^*1 FYE Mar	2017 ^*1 FYE Mar	2018 ^*1 FYE Mar	2019 ^*1 FYE Mar	2020 ^*1 FYE Mar	2021 ^*1 FYE Mar	2022 ^*1 FYE Mar	2023 ^*1 FYE Mar	2024 ^*1 FYE Mar	2025 ^*1 FYE Mar	2026 ^*1 FYE Mar
Standard		JGAAP	JGAAP	JGAAP	JGAAP	JGAAP	JGAAP	JGAAP	JGAAP	JGAAP	JGAAP	JGAAP	JGAAP	JGAAP	JGAAP	JGAAP	JGAAP	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS	IFRS
Basis		Consolidated	Consolidated	Consolidated	Consolidated	Consolidated	Consolidated	Consolidated	Consolidated	Consolidated	Consolidated	Consolidated	Consolidated	Consolidated	Consolidated	Consolidated	Consolidated	Consolidated	Consolidated	Consolidated	Consolidated	Consolidated	Consolidated	Consolidated	Consolidated	Consolidated	Consolidated

*1 Securities report (yuka shoken hokokusho), as filed

Yen–dollar exchange rate ¥ per US$1

Annual average, yen per one US dollar. Every figure above is in yen as filed — convert one using the rate of its own year, never today's. A higher line is a weaker yen.

Annual average ¥/US$ rate, 1949–2026. YoY above zero means the yen weakened.
Fiscal year	Unit	1949 ^*1 Cal. year	1950 ^*1 Cal. year	1951 ^*1 Cal. year	1952 ^*1 Cal. year	1953 ^*1 Cal. year	1954 ^*1 Cal. year	1955 ^*1 Cal. year	1956 ^*1 Cal. year	1957 ^*1 Cal. year	1958 ^*1 Cal. year	1959 ^*1 Cal. year	1960 ^*1 Cal. year	1961 ^*1 Cal. year	1962 ^*1 Cal. year	1963 ^*1 Cal. year	1964 ^*1 Cal. year	1965 ^*1 Cal. year	1966 ^*1 Cal. year	1967 ^*1 Cal. year	1968 ^*1 Cal. year	1969 ^*1 Cal. year	1970 ^*1 Cal. year	1971 ^*1 Cal. year	1972 ^*2 Cal. year	1973 ^*3 Cal. year	1974 ^*3 Cal. year	1975 ^*3 Cal. year	1976 ^*3 Cal. year	1977 ^*3 Cal. year	1978 ^*3 Cal. year	1979 ^*3 Cal. year	1980 ^*4 Cal. year	1981 ^*4 Cal. year	1982 ^*4 Cal. year	1983 ^*4 Cal. year	1984 ^*4 Cal. year	1985 ^*4 Cal. year	1986 ^*4 Cal. year	1987 ^*4 Cal. year	1988 ^*4 Cal. year	1989 ^*4 Cal. year	1990 ^*4 Cal. year	1991 ^*4 Cal. year	1992 ^*4 Cal. year	1993 ^*4 Cal. year	1994 ^*4 Cal. year	1995 ^*4 Cal. year	1996 ^*4 Cal. year	1997 ^*4 Cal. year	1998 ^*4 Cal. year	1999 ^*4 Cal. year	2000 ^*4 Cal. year	2001 ^*4 Cal. year	2002 ^*4 Cal. year	2003 ^*4 Cal. year	2004 ^*4 Cal. year	2005 ^*4 Cal. year	2006 ^*4 Cal. year	2007 ^*4 Cal. year	2008 ^*4 Cal. year	2009 ^*4 Cal. year	2010 ^*4 Cal. year	2011 ^*4 Cal. year	2012 ^*4 Cal. year	2013 ^*4 Cal. year	2014 ^*4 Cal. year	2015 ^*4 Cal. year	2016 ^*4 Cal. year	2017 ^*4 Cal. year	2018 ^*4 Cal. year	2019 ^*4 Cal. year	2020 ^*4 Cal. year	2021 ^*4 Cal. year	2022 ^*4 Cal. year	2023 ^*4 Cal. year	2024 ^*4 Cal. year	2025 ^*4 Cal. year	2026 ^*4,5 Cal. year
Rate	¥/US$	¥360.00	¥360.00	¥360.00	¥360.00	¥360.00	¥360.00	¥360.00	¥360.00	¥360.00	¥360.00	¥360.00	¥360.00	¥360.00	¥360.00	¥360.00	¥360.00	¥360.00	¥360.00	¥360.00	¥360.00	¥360.00	¥360.00	¥360.00	¥308.00	¥274.00	¥293.00	¥299.00	¥292.00	¥257.00	¥201.00	¥230.00	¥226.69	¥220.55	¥249.06	¥237.48	¥237.53	¥238.53	¥168.52	¥144.60	¥128.13	¥137.98	¥144.81	¥134.51	¥126.67	¥111.18	¥102.22	¥94.05	¥108.77	¥121.02	¥130.89	¥113.84	¥107.74	¥121.52	¥125.28	¥115.92	¥108.16	¥110.15	¥116.28	¥117.77	¥103.33	¥93.53	¥87.77	¥79.78	¥79.79	¥97.60	¥105.84	¥121.02	¥108.84	¥112.16	¥110.40	¥109.01	¥106.78	¥109.78	¥131.37	¥140.51	¥151.50	¥149.65	¥158.16
YoY	%	—	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-14.4%	-11.0%	+6.9%	+2.0%	-2.3%	-12.0%	-21.8%	+14.4%	-1.4%	-2.7%	+12.9%	-4.6%	0.0%	+0.4%	-29.4%	-14.2%	-11.4%	+7.7%	+4.9%	-7.1%	-5.8%	-12.2%	-8.1%	-8.0%	+15.7%	+11.3%	+8.2%	-13.0%	-5.4%	+12.8%	+3.1%	-7.5%	-6.7%	+1.8%	+5.6%	+1.3%	-12.3%	-9.5%	-6.2%	-9.1%	0.0%	+22.3%	+8.4%	+14.3%	-10.1%	+3.1%	-1.6%	-1.3%	-2.0%	+2.8%	+19.7%	+7.0%	+7.8%	-1.2%	+5.7%

*1 1949-1971: Fixed Bretton Woods peg ¥360/$ (Dodge Line 1949; Smithsonian ¥308 from Dec 1971).
*2 1972: Smithsonian peg ¥308/$ (held until Feb 1973 float).
*3 1973-1979: JIL (Japan Institute for Labour Policy and Training) g0001.xlsx — fiscal-year (Apr–Mar) basis, integer-rounded. PROVISIONAL; upgrade to BOJ FXERM07 calendar-year later.
*4 1980-2026: Bank of Japan stat-search FM08'FXERM07 (Tokyo market, USD/JPY spot, 17:00 fixing, monthly average) — calendar-year average of monthly averages.
*5 Provisional — part-year average, not a full calendar year.

Exchange rates & sources — the full table →

Download the long-term series (CSV) → Compiled from securities reports and other public filings. We do not guarantee accuracy or currency, and do not track post-filing corrections. Check the primary sources before relying on these figures.

All figures are in Japanese yen as filed. Where a foreign-currency comparison is needed elsewhere on this site, yen amounts are converted at the average rate of each figure's own year — not today's rate. Exchange rates & sources →

Read the company history → 日本語版（詳細）— full financial data in Japanese →

Disclaimer

This page is provided for general information only and is not investment advice, nor a recommendation to buy or sell any security.
Figures are compiled independently and include our own estimates, approximations and machine-processed data; we make no warranty as to their accuracy or completeness.
Sources are primarily each company's securities reports and other public filings, but errors and omissions may remain.
Any use of this information is at the reader's own risk. Past performance does not indicate future results.
Company names, logos and other marks belong to their respective owners.

Data API

Nomura Research Institute’s history, financials, executives and shareholders are published as static JSON — no key, plain GET.

Method	Endpoint	Returns
GET	/api/companies.json	All companies
GET	/api/4307/manifest.json	Resource index
GET	/api/4307/history.json	History overview
GET	/api/4307/timeline.json	Chronology
GET	/api/decisions.json	All management decisions (index)
GET	/api/4307/decisions.json	Management decisions (index)
GET	/api/4307/decisions/{slug}.json	One decision (full dossier)
GET	/api/4307/executives.json	Executives
GET	/api/4307/shareholders.json	Major shareholders
GET	/api/4307/financials.json	Financial statements
GET	/api/4307/financials-longterm.json	Long-term results
GET	/api/4307/segments.json	Business segments
GET	/api/4307/regions.json	Sales by region
GET	/api/4307/workforce.json	Workforce