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Japan-Update

Nomura Research Institute seen on track for record Q1 profit

Robust consulting business helps absorb relocation costs

TOKYO -- Nomura Research Institute is expected to log record operating profit in the April-June quarter for the third straight year, as solid orders for its consulting and IT system development services offset costs from office relocations.

The Japanese company's operating profit for the quarter will probably edge up 2% on the year to about 14 billion yen ($125 million).

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