Nomura Research Institute, Ltd.
4307・Prime Market・Information & Communication
Governance
In June 2025, the company transitioned from a company with a Board of Corporate Auditors to a company with an Audit and Supervisory Committee. It comprises 14 directors (9 directors who are not Audit and Supervisory Committee members, of whom 3 are outside directors, and 5 Audit and Supervisory Committee members, of whom 3 are outside directors), with independent outside directors accounting for at least one-third of the Board of Directors. The chairman of the Board of Directors is a non-executive director, aiming to separate oversight from execution. The company has established a Nomination Advisory Committee, a Compensation Advisory Committee, and a Sustainability and Governance Committee, each composed of a majority of independent outside directors.
Risk Management
The Company has established a risk management officer and an Integrated Risk Management Department to centrally manage risks across the group. Through the Integrated Risk Management Meeting (held twice a year) and the Business Promotion Committee, the Company reviews and embeds internal controls, while also formulating contingency plans for large-scale disasters and system failures and conducting company-wide drills five times a year. During the fiscal year under review, an incident occurred involving unauthorized access to a subcontractor that resulted in a leak of survey data; the Company implemented recurrence prevention measures, including a review of its outsourcing processes.
Shareholder Returns
Continuing the policy of targeting a consolidated payout ratio of 40%. The annual dividend for FY2026 (ending March 2026) is ¥77 per share (interim ¥35 + year-end ¥42), with a payout ratio of 289.9% (reflecting the impact of a sharp decline in net income due to impairment losses recorded). For FY2027 (ending March 2027), an annual dividend of ¥84 (interim ¥42 + year-end ¥42) is planned. As a subsequent event, a resolution was passed for share buybacks with an upper limit of ¥70,000 million and 21 million shares.
Dividend Policy
The basic policy is to maintain stable dividends while securing internal reserves for mid- to long-term business development, targeting a consolidated payout ratio of 40%, determined in consideration of business earnings and cash flow conditions. Dividends of surplus are paid twice a year (record dates of September 30 and March 31) by resolution of the Board of Directors. The annual dividend for FY2026 (ending March 2026) is ¥77 per share (interim ¥35 + year-end ¥42). For FY2027 (ending March 2027), an annual dividend of ¥84 (interim ¥42 + year-end ¥42) is planned. Given that impairment losses on goodwill and other assets do not directly affect cash flow, the dividend level reflecting the strong performance of domestic operations is being maintained.
ESG
In climate action, the company obtained SBTi net-zero target certification (February 2024), achieving a 93% reduction in Scope 1+2 greenhouse gas emissions versus the base year (current fiscal year results) and a renewable energy usage rate of 98%. Electricity at all domestic data centers has been converted to renewable energy. In human capital, the company is promoting well-being improvement centered on "growth, fulfillment, and connection," achieving an employee engagement score of 73 (target: 70 or above) and a male childcare leave uptake rate of 90.9%. The company has established a Sustainability Governance Committee and a mechanism linking executive compensation to sustainability indicators, and continues to be selected for the Dow Jones Best-in-Class Indices World.
Last updated: June 15, 2026