Nomura Holdings×SBI Holdings×Daiwa Securities Group×Japan Exchange Group
Different ways of making money, on the same scale.
Same yardstick
| Metric | Nomura HoldingsFY ending Mar 2026 | SBI HoldingsFY ending Mar 2026 | Daiwa Securities GroupFY ending Mar 2026 | Japan Exchange GroupFY ending Mar 2026 |
|---|---|---|---|---|
| Revenue | ¥4.76T | ¥1.9T | ¥1.47T | ¥198.7B |
| COGS ratio | — | 19.3% | — | — |
| Operating margin | — | — | 14.1% | 58.5% |
| Net margin | 7.6% | 22.5% | 11.9% | 39.8% |
| FCF margin | — | — | 22.3% | 50.0% |
Highlighted = best value for that metric
Money flows side by side
Chart height is proportional to revenue.
Nomura Holdings¥4.76T
※ Cost of revenue is not disclosed; expenses are combined
※ Operating income is not disclosed; the chart goes straight to pretax income including investment gains
SBI Holdings¥1.9T · keeps ¥54 per ¥100
※ Operating income is not disclosed; the chart goes straight to pretax income including investment gains
Daiwa Securities Group¥1.47T · keeps ¥14 per ¥100
※ Cost of revenue is not disclosed; expenses are combined
Japan Exchange Group¥198.7B · keeps ¥59 per ¥100
※ Cost of revenue is not disclosed; expenses are combined
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