Nomura Research Institute, Ltd. (NRI) announced today a revision to its financial results forecasts for the fiscal year ending March 31, 2010 (April 1, 2009 to March 31, 2010), which were originally released on April 24, 2009.

(1)

Reasons for revisions

Although exports and production have partially recovered, the Japanese economy still faces downside risks, such as the impact of the financial crisis and concerns over a global economic recession, and conditions remain uncertain. Economic sentiment in the corporate sector is still weak, and there are no signs of significant improvements in corporate interest in investing in information systems.   In this environment, the NRI Group expects orders to be weak, and has accordingly revised its forecast for consolidated sales for the full fiscal year from 350 billion yen to 340 billion yen. However, the Group will strive to cut costs by streamlining subcontracting costs with more efficient system operations, and therefore has raised its consolidated operating profit forecast from 43 billion yen to 44 billion yen.

(2)

Revised forecasts of consolidated financial results for the fiscal year ending March 31, 2010 (April 1, 2009 to March 31, 2010)

Sales Operating profit Ordinary profit Net income Net income per share Previous forecasts (A) Million yen 350,000 Million yen 43,000 Million yen 44,000 Million yen 24,500 Yen 125.95 Current forecasts (B) 340,000 44,000 44,000 24,500 125.92 Decrease (B-A) -10,000 1,000 - - -0.02 Change (%) -2.9 2.3 - - -0.0 Reference: Results for the fiscal year ended March 31, 2009 341,279 49,713 51,731 24,513 125.54

(3)	Revised forecasts of non-consolidated financial results for the fiscal year ending March 31, 2010 (April 1, 2009 to March 31, 2010)
Sales Operating profit Ordinary profit Net income Net income per share Previous forecasts (A) Million yen 333,000 Million yen 40,000 Million yen 41,000 Million yen 23,500 Yen 120.81 Current forecasts (B) 323,000 41,000 47,500 30,000 154.19 Decrease (B-A) -10,000 1,000 6,500 6,500 33.39 Change (%) -3.0 2.5 15.9 27.7 27.6 Reference: Results for the fiscal year ended March 31, 2009 324,697 45,041 47,321 20,583 105.41
Note: Sales and profit figures forecast in this release are based on information available to management at the present time. As such, this forecast contains risk and uncertainty. Readers should be aware that actual sales and profits may differ from this forecast.

[For general inquiries, please contact:]
Shin Ueoka, Investor Relations Department
Tel: +81-3-5533-3910
E-mail:

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