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Nomura Real Estate Holdings (3231) FY2026 Q3 Earnings Report

For FY2026 Q3, revenue came to ¥581.6B (+1.7% year on year) and operating income ¥80.3B (-18.7%). The segment drivers and cash flow follow.

Nomura Real Estate Holdings,Inc.

January 28, 2026

Real Estate/Real Estate

Theoretical share value trend (reference)

JPY per share

Base scenarioBear–bull range

These are mechanically computed values based on a residual income model. They are not a forecast of market prices or a recommendation of any investment action, and do not predict or guarantee future share prices. Historical values are computed retrospectively using current guidance-achievement statistics.

Table of Contents

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Metric	Current	Prior	YoY
Revenue	¥5815.6B	¥5718.5B	+1.7%
Operating Income	¥803.2B	¥988.5B	−18.7%
Ordinary Income	¥701.0B	¥880.7B	−20.4%
Net Income	¥429.6B	¥624.4B	−31.2%
ROE	5.7%	8.3%	-

Nomura Real Estate Holdings (3231) FY2026 Q3 Earnings Report

Theoretical share value trend (reference)

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Executive Summary

Key Metrics

Cash Flow Analysis

Earnings Quality

Risk Factors

Industry Benchmark (Reference - Proprietary Data)

Key Takeaways from Earnings

Theoretical share value trend (reference)