Nomura Research Institute, Ltd.
4307・Prime Market・Information & Communication
Consulting
NRI's knowledge-intensive, high-profitability segment providing policy, strategy, and IT consulting
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (including internal sales) | ¥68,724 million | ¥65,376 million | ↑ |
| Operating profit | ¥19,225 million | ¥18,398 million | ↑ |
| Operating margin | 28.0% | 28.1% | — |
| Revenue from external customers | ¥63,556 million | ¥60,333 million | ↑ |
Business Details
Provides policy proposal and strategy consulting, business consulting to support operational reform, and systems consulting spanning overall IT management. Serving a wide range of public and private sector clients, the segment is expanding its business domain centered on DX support and execution-support-type consulting. Through the linkage of consulting and IT solutions ("Consolution"), it deploys a high-value-added model that continuously supports client transformation from the planning and conceptualization stage onward.
Recent Overview
Orders increased centered on domestic Systems Consulting, achieving higher revenue and profit
Revenue for FY2026 (ending March 2026) was ¥68,724 million (up 5.1% year on year), and operating profit was ¥19,225 million (up 4.5% year on year). The main driver was an increase in orders centered on Systems Consulting in the domestic business. The operating margin remained nearly flat at 28.0%, versus 28.1% in the prior year, maintaining the segment's high-profitability structure. Revenue for FY2027 (ending March 2027) is forecast at ¥70,000 million (up 10.1% year on year), anticipating further growth.
Key Products
Growth Drivers
- Continued buoyancy in DX-related IT investment (rapid progression from business process transformation to business model transformation)
- Expansion of orders centered on Systems Consulting in the domestic business
- Continued support for client transformation through expansion of execution-support-type consulting services
- Expansion of business domain through linkage of consulting and IT solutions (Consolution)
- Creation of new consulting services addressing new themes such as generative AI, decarbonization, and reskilling
- Deepening and expanding core areas toward the Medium-Term Management Plan 2028 target of ¥950,000 million in revenue and ROE of around 25%
Risks
- Risk of investment restraint due to deteriorating performance among client companies (impact of US trade policy, exchange rate fluctuations, rising crude oil prices, etc.)
- Delays in securing and developing highly skilled personnel able to respond to the rapid evolution of AI and digital technologies
- Intensifying competition from new entrants from other industries and overseas consulting firms
- Risk of unprofitable projects (being addressed through pre-order estimate review and project management systems)
- Rising personnel and outsourcing costs due to continued price increases, impacting profitability
Last updated: June 15, 2026