Nomura SystemNomura System Corporation Co, Ltd.3940東証スタンダード情報・通信業FY ending Dec 2025, non-consolidated, J-GAAP

Nomura System revenue and profit

Out of every ¥100 of sales, about ¥18 is left as operating profit. Revenue changed +1.4% from the prior year, operating profit +14.0%.

Five-year trend

Revenue¥3.32B
FY ending Dec 2021: ¥2.79B¥2.79BFY ending Dec 2022: ¥2.7B¥2.7BFY ending Dec 2023: ¥2.95B¥2.95BFY ending Dec 2024: ¥3.28B¥3.28BFY ending Dec 2025: ¥3.32B¥3.32BFY21FY22FY23FY24FY25
Operating income¥586.4M
FY ending Dec 2021: ¥475.5M¥475.5MFY ending Dec 2022: ¥351.9M¥351.9MFY ending Dec 2023: ¥464.3M¥464.3MFY ending Dec 2024: ¥514.5M¥514.5MFY ending Dec 2025: ¥586.4M¥586.4MFY21FY22FY23FY24FY25
Operating margin17.7%
FY ending Dec 2021: 17.0%17.0%FY ending Dec 2022: 13.1%13.1%FY ending Dec 2023: 15.8%15.8%FY ending Dec 2024: 15.7%15.7%FY ending Dec 2025: 17.7%17.7%FY21FY22FY23FY24FY25

What drives ROE

Net margin × asset turnover = ROA; ROA × financial leverage = ROE

Net margin12.2%
Asset turnover0.87×
ROA10.5%
ROA10.5%
Financial leverage1.14×
ROE12.0%

Denominators: average assets and average equity. Derived from reported values; ROE is shown only for positive profit and equity.

Net margin12.2%
2021: 12.5%12.5%2022: 9.5%9.5%2023: 12.2%12.2%2024: 11.2%11.2%2025: 12.2%12.2%2122232425
Asset turnover0.87×
2021: 0.94×0.94×2022: 0.88×0.88×2023: 0.89×0.89×2024: 0.92×0.92×2025: 0.87×0.87×2122232425
ROA10.5%
2021: 11.8%11.8%2022: 8.4%8.4%2023: 10.9%10.9%2024: 10.3%10.3%2025: 10.5%10.5%2122232425
Financial leverage1.14×
2021: 1.09×1.09×2022: 1.10×1.10×2023: 1.12×1.12×2024: 1.13×1.13×2025: 1.14×1.14×2122232425
ROE12.0%
2021: 12.9%12.9%2022: 9.2%9.2%2023: 12.2%12.2%2024: 11.6%11.6%2025: 12.0%12.0%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
202112.5%0.94×11.8%1.09×12.9%
20229.5%0.88×8.4%1.10×9.2%
202312.2%0.89×10.9%1.12×12.2%
202411.2%0.92×10.3%1.13×11.6%
202512.2%0.87×10.5%1.14×12.0%

Financial leverage can raise ROE; a higher value alone does not describe a company's overall condition.

Asset intensity and goodwill

Annual trends in tangible-asset ratios and goodwill balance.

PPE ÷ revenue1.5%
2020: 0.2%0.2%2021: 0.3%0.3%2022: 2.1%2.1%2023: 1.8%1.8%2024: 1.5%1.5%2025: 1.5%1.5%202122232425
PPE ÷ total assets1.2%
2020: 0.2%0.2%2021: 0.3%0.3%2022: 1.8%1.8%2023: 1.5%1.5%2024: 1.3%1.3%2025: 1.2%1.2%202122232425

Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition

Income statement (JPY millions)

ItemFY ending Dec 2021FY ending Dec 2022FY ending Dec 2023FY ending Dec 2024FY ending Dec 2025
Revenue2,7912,6962,9463,2753,321
Cost of revenue2,0482,0292,1642,4052,376
Gross profit742667782870945
SG&A267315318356359
Operating income476352464515586
Pretax income495371493515595
Income tax145115134149191
Net income attributable to owners349256360366404
Operating margin17.0%13.1%15.8%15.7%17.7%

Balance sheet (reported items)

Year-end figures from filings. Unreported items are omitted. Interest-bearing debt excludes lease liabilities.

Assets

Cash 68%
1%
0%
7%
Other assets 24%

Funding

Other liabilities 11%
Equity 89%
0%

Each bar totals 100% of assets; other is the residual.

ItemFY ending Dec 2021FY ending Dec 2022FY ending Dec 2023FY ending Dec 2024FY ending Dec 2025
Cash and equivalents¥1.85B¥2.07B¥2.67B¥2.85B¥2.7B
Total assets¥2.96B¥3.14B¥3.44B¥3.7B¥3.98B
Net assets¥2.65B¥2.84B¥3.04B¥3.25B¥3.53B
Share capital¥322.8M¥323.9M¥323.9M¥327.8M¥327.8M
Property, plant and equipment¥9.5M¥55.8M¥52.3M¥49.2M¥48.8M
Intangible assets excluding goodwill¥218K¥218K¥218K¥218K¥218K
Investment securities¥334.1M¥423.6M¥0—¥285M
Current assets¥2.52B¥2.55B¥3.25B¥3.48B¥3.42B
Current liabilities¥309.9M¥290.7M¥379.8M¥431.6M¥432.8M
Total liabilities¥313.5M¥307.2M¥398.5M¥450.4M¥451.5M
Equity attributable to owners of parent¥2.71B¥2.84B¥3.04B¥3.25B¥3.49B
Retained earnings¥2.14B¥2.24B¥2.45B¥2.66B¥2.92B
Treasury stock-¥31.7M-¥5.6M-¥8.7M-¥30.9M-¥63.6M

Sources

Show source documents (6)
  • EDINET (FSA Japan)

    有価証券報告書-第41期(2025/01/01-2025/12/31)

    ID S100XTIP2026-03-25Open
  • EDINET (FSA Japan)

    有価証券報告書-第40期(2024/01/01-2024/12/31)

    ID S100VG9C2025-03-26Open
  • EDINET (FSA Japan)

    有価証券報告書-第39期(2023/01/01-2023/12/31)

    ID S100T48N2024-03-26Open
  • EDINET (FSA Japan)

    有価証券報告書-第38期(2022/01/01-2022/12/31)

    ID S100QFSC2023-03-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第37期(令和3年1月1日-令和3年12月31日)

    ID S100NPA72022-03-23Open
  • EDINET (FSA Japan)

    有価証券報告書-第36期(令和2年1月1日-令和2年12月31日)

    ID S100L0A82021-03-24Open

Extracted from XBRL: 45 / Derived from other figures: 1

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