NOMURA RESEARCH INSTITUTE LTD UNSPONSORED ADR (NRILY)

Friday

2:20 PM

Thesis: Recent earnings reports indicate a sharp decline in net income, raising concerns about the company's ability to maintain growth amid increasing competition.

Revenue Outlook

Metric	FY2026	FY2027E	FY2028E
Revenue	$863.8B	$850.1B	$922.1B
Rev. Growth	+12.9%	-1.6%	+8.5%
EPS	$28.76	$222.86	$248.51
EPS Growth	-82.4%	+675%	+11.5%
P/E (fwd)	1.1×	0.1×	0.1×

★ Analysts see FY2028 revenue reaching $922.1B — +8.5% growth in a single year.

What Moves the Stock

1Changes in IT spending by Japanese corporations
2Growth in demand for digital transformation services
3Regulatory changes impacting the financial services sector
4Partnerships with global technology firms
5IT consulting and system integration services - 60%
6Software development and licensing - 30%
7Maintenance and support services - 10%
8Digital transformation in traditional industries

FY2026 Snapshot

Revenue: $863.8B
Rev. Growth: +12.9%
Gross Margin: 36.8%
Op. Margin: 19.0%
Net Margin: 1.9%
Net Income: $16.2B
NI Growth: -82.7%
EPS: $28.76
1Y Return: -15.7%

NRILY Chart

My Notes

"Management noted, 'We are facing unprecedented challenges in client retention and market competition.'"
Moat: The company's strong relationships with major Japanese corporations provide a durable competitive advantage.
growth - Investors looking for exposure to the expanding IT services market in Japan may find NRILY appealing.
Nomura Research Institute is somewhat sensitive to interest rates, as higher rates can impact client budgets for IT projects and affect…
Watch on earnings: Japanese corporate IT spending growth, Client acquisition rate, Operating cash flow.

One Sentence Summary:

Nomura Research Institute Ltd Unsponsored ADR: the story is balanced — changes in it spending by japanese corporations.

Auto-composed from Stock Alarm intelligence, financial statements, and analyst estimates. Not investment advice.

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