# Nomura Research Institute vs GMO internet group

> Unit: JPY millions (ratios in %)
> Periods: Nomura Research Institute = FY ending Mar 2025, consolidated, IFRS / GMO internet group = FY ending Dec 2025, consolidated, IFRS
> Retrieved: 2026-09-30T20:37:00.981Z

| Metric | Nomura Research Institute | GMO internet group |
| --- | ---: | ---: |
| Revenue | 764,813 | 285,261 |
| Operating income | 134,907 | 59,132 |
| Net income | 93,762 | 16,749 |
| COGS ratio | 64.0% | 40.0% |
| Operating margin | 17.6% | 20.7% |
| Net margin | 12.3% | 5.9% |
| FCF margin | 10.5% | 15.2% |
| Period | FY ending Mar 2025 | FY ending Dec 2025 |
| Source | S100YBM8 | S100XSG3 |

## Five-axis industry profile

Each axis shows a rank within that company's primary industry, so peer groups may differ. Missing values are labeled unavailable; no combined score is calculated. Industry rank is not an investment recommendation.

| Axis | Nomura Research Institute | GMO internet group |
| --- | ---: | ---: |
| Revenue growth | 49.4 (157 peers) | — |
| Profitability | 89.5 (196 peers) | — |
| Cash conversion | 65.7 (185 peers) | — |
| Efficiency | 16.1 (196 peers) | — |
| Financial strength | — | — |

## Company details

- https://vizora.meequs.com/en/company/nomura-research-institute/md
- https://vizora.meequs.com/en/company/gmo-internet-group/md

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).