# Mitsubishi Research Institute vs Nomura Research Institute

> Unit: JPY millions (ratios in %)
> Periods: Mitsubishi Research Institute = FY ending Sep 2025, consolidated, J-GAAP / Nomura Research Institute = FY ending Mar 2025, consolidated, IFRS
> Retrieved: 2026-09-30T22:04:05.380Z

| Metric | Mitsubishi Research Institute | Nomura Research Institute |
| --- | ---: | ---: |
| Revenue | 121,458 | 764,813 |
| Operating income | 8,010 | 134,907 |
| Net income | 6,386 | 93,762 |
| COGS ratio | 76.3% | 64.0% |
| Operating margin | 6.6% | 17.6% |
| Net margin | 5.3% | 12.3% |
| FCF margin | 0.0% | 10.5% |
| Period | FY ending Sep 2025 | FY ending Mar 2025 |
| Source | S100X9BV | S100YBM8 |

## 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 | Mitsubishi Research Institute | Nomura Research Institute |
| --- | ---: | ---: |
| Revenue growth | 32.2 (157 peers) | 49.4 (157 peers) |
| Profitability | 31.9 (196 peers) | 89.5 (196 peers) |
| Cash conversion | 48.9 (185 peers) | 65.7 (185 peers) |
| Efficiency | 26.8 (196 peers) | 16.1 (196 peers) |
| Financial strength | — | — |

## Company details

- https://vizora.meequs.com/en/company/mitsubishi-research-institute/md
- https://vizora.meequs.com/en/company/nomura-research-institute/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).