6-K 1 d491635d6k.htm FORM 6-K FORM 6-K
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FORM 6-K

 

 

U.S. SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 of

the Securities Exchange Act of 1934

Commission File Number: 1-15270

For the month of May 2023

 

 

NOMURA HOLDINGS, INC.

(Translation of registrant’s name into English)

 

 

13-1, Nihonbashi 1-chome

Chuo-ku, Tokyo 103-8645

Japan

(Address of principal executive offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F      X            Form 40-F              

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):         

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):         

 

 

 

 


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Information furnished on this form:

EXHIBIT

Exhibit Number

 

1.

Consolidated Results of Operations (US GAAP), Fourth quarter, year ending March 2023


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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  NOMURA HOLDINGS, INC.
Date: May 1, 2023   By:   

/s/ Yoshifumi Kishida

     Yoshifumi Kishida
     Senior Managing Director


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ConnectingMarkets East & West © Nomura (US GAAP) April 2023 Consolidated Results of OperationsFourth quarter, year ended March 2023 Nomura Holdings, Inc.


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Outline Presentation Financial Supplement Executivesummary(p.2-3) Overviewofresults(p.4) Businesssegmentresults(p.5) Retail(p.6-8) InvestmentManagement(p.9-10) Wholesale(p.11-13) Non-interestexpenses(p.14) Robustfinancialposition(p.15) Consolidatedbalancesheet(p.17) Valueatrisk(p.18) Consolidatedfinancialhighlights(p.19) Consolidatedincome(p.20) Mainrevenueitems(p.21)Consolidatedresults:Income(loss)beforeincometaxesbysegmentandregion(p.22) Segment“Other”(p.23) Retailrelateddata(p.24-27) InvestmentManagementrelateddata(p.28-29) Wholesalerelateddata(p.30) Numberofemployees(p.31)


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Executive summary (1/2) FY2022/23 full year highlights Shareholder returns Income before income taxes: Y149.5bn (-34% YoY); Net income1: Y92.8bn (-35% YoY); Dividend per share: EPS2: Y29.74; ROE3: 3.1%—Year-end Y12; Annual Y17 Three segment income before income taxes of Y106.4bn (-48% YoY) Launched share buyback program – Retail: Efforts to increase Retail client assets gained traction with net inflows of recurring revenue to raise capital efficiency and ensure a flexible assets lifting recurring revenue higher YoY; Flow revenue was slower mainly in 1H due to market uncertainty capital management policy and to deliver as – Investment Management: Lower performance fees offset by improved performance at Nomura Babcock stock-based compensation & Brown in aircraft leasing, resulting in business revenue roughly unchanged YoY; Investment gain/loss—Total shares: Upper limit of 35 million declined shares – Wholesale: Fixed Income revenues increased driven by Macro Products and Equities reported stronger —Total value: Upper limit of Y20bn revenues as losses related to transactions with a US client booked last year were no longer present; Period: From May 16, 2023, to March Investment Banking financing revenues were slow due to postponement of transactions; Division—29, performance also impacted by higher costs mainly related to yen depreciation 2024 FY2022/23 FY2021/22 YoY Income (loss) before income taxes: FY2022/23 FY2021/22 YoY Full year Full year Business segment results Full year Full year Retail Y33.5bn Y59.2bn -43% Net revenue Y1,335.6bn Y1,363.9bn -2% Investment Management Y43.5bn Y71.5bn -39% Income (loss) before Y149.5bn Y226.6bn -34% income taxes Wholesale Y29.4bn Y74.5bn -61% Net income (loss)1 Y92.8bn Y143.0bn -35% Three segment total Y106.4bn Y205.2bn -48% Other Y73.4bn Y15.8bn 4.7x EPS2 Y29.74 Y45.23 -34% Unrealized gain (loss) on investments in equity -Y30.3bn Y5.6bn -securities held for operating purposes ROE3 3.1% 5.1% Income (loss) before income taxes Y149.5bn Y226.6bn -34% 1. Net income (loss) attributable to Nomura Holdings shareholders. 2. Diluted net income (loss) attributable to Nomura Holdings shareholders per share. 3. Calculated using annualized net income 2 attributable to Nomura Holdings shareholders for each period.


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Executive summary (2/2) Income (loss) before income taxes and net FY2022/23 4Q highlights income (loss)1 ® Net revenue: Y324.9bn (-17% QoQ); Income before income taxes: Y22.7bn (-73% QoQ); Net Groupwide (billions of yen) income1: Y7.4bn (-89% QoQ); EPS2: Y2.34; ROE3 : 0.9% Income (loss) before income taxes Net income (loss) ® Three segment income before income taxes of Y11.9bn (-73% QoQ) 80.1 83.6 78.5 – Retail 60.3 66.9 49.5  Despite ongoing market uncertainty, multiple public and secondary offerings provided 48.5 opportunity to deepen interactions with clients: Flow business client numbers increased 31.0 31.5  However, flow revenue slowed QoQ due to a decline in insurance contracts and bond 18.5 16.8 22.7 transactions 11.7 3.2 1.7 7.4 FY2021/22 FY2022/23 – Investment Management 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q ƒ¼ Asset management business remained solid with ongoing inflows into core investment trusts, bank channel, and alternatives  Investment gain/loss declined from elevated level last quarter, but contributed to division Three segment income (loss) before income taxes revenues Wholesale 79.2 Investment Management Retail – Wholesale 57.0 ƒ¼ Fixed Income started the new calendar year strong, but slowed as volatility spiked in March ƒ¼ 44.7 Equities and Investment Banking revenues declined QoQ, negatively impacting division 35.6 33.5 31.2 performance 18.5 11.9 ® Segment Other income before income taxes of Y15.7bn (-74% QoQ) – Realized gain from sale of Nomura Research Institute shares booked last quarter no longer FY2021/22 FY2022/23 present, while realized gain on investments in equity securities held for operating purposes declined 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1. Net income (loss) attributable to Nomura Holdings shareholders. 3 2. Diluted net income (loss) attributable to Nomura Holdings shareholders per share. 3. Calculated using annualized net income attributable to Nomura Holdings shareholders for each period.


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Overview of results Highlights (billions of yen, excluding EPS and ROE) FY2021/22 FY2022/23 FY2021/22 FY2022/23 4Q 1Q 2Q 3Q 4Q QoQ YoY Full year Full year YoY Net revenue 340.8 299.0 318.0 393.7 324.9 -17% -5% 1,363.9 1,335.6 -2% Non-interest expenses 291.3 287.3 286.5 310.1 302.2 -3% 4% 1,137.3 1,186.1 4% Income (loss) before income 49.5 11.7 31.5 83.6 22.7 -73% -54% 226.6 149.5 -34% taxes Net income (loss)1 31.0 1.7 16.8 66.9 7.4 -89% -76% 143.0 92.8 -35% EPS2 Y9.89 Y0.52 Y5.41 Y21.51 Y2.34 -89% -76% Y45.23 Y29.74 -34% ROE3 4.3% 0.2% 2.2% 8.5% 0.9% 5.1% 3.1% 1. Net income (loss) attributable to Nomura Holdings shareholders. 2. Diluted net income (loss) attributable to Nomura Holdings shareholders per share. 4 3. Calculated using annualized net income attributable to Nomura Holdings shareholders for each period.


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Business segment results Net revenue and income (loss) before income taxes (billions of yen) FY2021/22 FY2022/23 FY2021/22 FY2022/23 4Q 1Q 2Q 3Q 4Q QoQ YoY Full year Full year YoY Net revenue Retail 70.5 71.4 72.5 81.0 75.3 -7% 7% 328.0 300.2 -8% Investment Management 10.1 7.6 26.2 57.0 37.8 -34% 3.8x 148.0 128.6 -13% Wholesales 194.9 199.0 205.5 189.1 178.8 -5% -8% 703.1 772.4 10% Subtotal 275.4 278.0 304.2 327.0 292.0 -11% 6% 1,179.0 1,201.1 2% Other* 64.2 23.9 15.6 87.3 37.9 -57% -41% 179.2 164.7 -8% Unrealized gain (loss) on investments in equity securities held for operating 1.2 -2.8 -1.8 -20.7 -4.9 — 5.6 -30.3 -purpose Net revenue 340.8 299.0 318.0 393.7 324.9 -17% -5% 1,363.9 1,335.6 -2% Income (loss) Retail 5.2 4.9 5.5 13.3 9.8 -26% 89% 59.2 33.5 -43% before Investment Management -8.8 -11.7 5.6 33.3 16.4 -51%—71.5 43.5 -39% income taxes Wholesale 37.0 25.3 20.2 -1.9 -14.2 — 74.5 29.4 -61% Subtotal 33.5 18.5 31.2 44.7 11.9 -73% -64% 205.2 106.4 -48% Other* 14.9 -3.9 2.1 59.5 15.7 -74% 5% 15.7 73.4 4.7x Unrealized gain (loss) on investments in equity securities held for operating 1.2 -2.8 -1.8 -20.7 -4.9 — 5.6 -30.3 -purpose Income (loss) before income taxes 49.5 11.7 31.5 83.6 22.7 -73% -54% 226.6 149.5 -34% *Additional information on “Other” (4Q)ï® Gain related to economic hedging (Y6.3bn) ï® Gain on changes to own and counterparty credit spreads related to Derivatives (Y1.6bn) 5


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Retail Net revenue and income before income taxes Key points (billions of yen) Full year Quarter Full year FY21/ ® Net revenue: Y300.2bn (-8% YoY) FY21/ FY22/ FY22/23 before 22 23 22 QoQ YoY ® Income income taxes: Y33.5bn (-43% YoY) 4Q 1Q 2Q 3Q 4Q—Retail clients remained on sidelines due to market uncertainty, resulting in Net revenue muted flow revenue in 1H 328.0 300.2 70.5 71.4 72.5 81.0 75.3 -7% 7%—Recurring revenue grew on the back of successful efforts to increase client Non-interest expenses assets; Recurring revenue cost coverage ratio was 51% as we continued 268.7 266.7 65.3 66.5 67.0 67.8 65.5 -3% 0.3% Income before income to manage our cost base 59.2 33.5 5.2 4.9 5.5 13.3 9.8 -26% 89% taxes Fourth quarter Net revenue ® Net revenue: Y75.3bn (-7% QoQ; +7% YoY) (billions of yen) 100 ® Income before income taxes: Y9.8bn (-26% QoQ; +89% YoY) Recurring revenue 300.0 80 Recurring revenue assets rebounded to Y18.7trn driven by net inflows Flow Revenue, 60 Recurring revenue declined QoQ as there were fewer days subject to etc.² 200.0 management fees, while fees from insurance products also declined Recurring Level fee assets exceeded Y350bn at end of March 40 Revenue¹ Flow revenue, etc. 100.0 20 Declined QoQ due to drop in insurance contracts and slower sales of bonds 0.0 Full year Quarter 0 FY2022/23 FY2022/23 ®Growth of client assets 3Q 4Q FY21/ FY21/ FY22/ FY2022/23 3 +Y41.4bn 22 QoQ YoY—Investment trust net inflows +Y36.6bn 22 23 4Q 1Q 2Q 3Q 4Q—Discretionary investment net inflows3 +Y66.5bn -Y12.1bn Recurring revenue1 132.5 135.3 32.9 32.5 34.9 34.2 33.7 -1% 3% 4—Net inflows of cash and securities +Y121.9bn +Y200.3bn Flow revenue, etc.2 195.5 164.9 37.6 38.9 37.6 46.8 41.6 -11% 11%—Recurring revenue cost coverage ratio5 50% 52% Net revenue 328.0 300.2 70.5 71.4 72.5 81.0 75.3 -7% 7% 1. Revenue from client assets and ongoing revenue (investment trusts, discretionary investments, insurance, loans, level fee assets, etc.). Figures from before FY2022/23 3Q have been reclassified following a revision to the scope of recurring revenue in FY2022/23 4Q. 2. Revenue from transactions (brokerage revenue, consulting-related revenue), interest income, etc. other than from loans. 3. Retail channels and Japan Wealth 6 Management Group. 4. Cash and securities inflows minus outflows, excluding regional financial institutions. Revised figures for FY2022/23 3Q. 5. Recurring revenue divided by non-interest expenses.


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Retail: Solid sales driven by stock offerings Total sales1 (billions of yen) Total sales1 declined 10% QoQ ® Stocks: +12% QoQ Stocks 5,000.0 – Strong growth in sales of stocks driven by public and secondary offerings (primary stock subscriptions2: Y363.8bn; 3.6x QoQ 4,000.0 Bonds: -35% QoQ Bonds® – Japan bonds reported an increase in sales of JGBs for individuals, while 3,000.0 purchases by corporate clients for short-term fund management purposes Investment trusts declined – Sales of foreign bonds increased on contribution from primary 2,000.0 transactions Discretionary investments, Insurance productsï® Investment trusts: -11% QoQ 1,000.0 – Inflows into Japan equity funds, but sales slowed due to deteriorating market environment in latter half of the quarter 0.0 (billions of yen)® Discretionary investments: -39% QoQ FY2021/22 FY2022/23 – SMAs and Fund Wrap contracts declined QoQ 4Q 1Q 2Q 3Q 4Q ® Insurance: -35% QoQ Stocks 2,415.3 2,047.9 2,228.8 2,383.5 2,669.6 – Sales remained high despite slowing from particularly strong previous quarter Bonds 1,971.9 1,987.4 1,811.8 1,835.6 1,187.0 Top selling investment trusts (Jan – March 2023) Investment trusts 331.1 411.1 345.6 430.8 382.1 Discretionary investments 132.9 170.6 140.3 136.8 82.8 1 Reopen Japan 2301 Insurance products 40.9 61.5 76.2 133.6 87.2 2 Fidelity World Value Growth Equity Fund Total Sales1 4,892.1 4,678.5 4,602.7 4,920.2 4,408.7 Nomura Japan Open 3 1. In FY2022/23 1Q, the scope of total sales was revised from Retail channels only to include Retail channels, Japan Wealth Management Group, Net & Call and intermediary. As a result, figures from before FY2022/23 1Q have been reclassified. 7 2. Retail channels, Japan Wealth Management Group, Net & Call, Hotto Direct.


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Retail KPI summary Net inflows of recurring revenue assets1 Recurring revenue assets and recurring revenue2 (billions of yen) ® Investment trusts, insurance and loans contributed to ongoing (trillions of yen) (billions of yen) net inflows of recurring revenue assets Recurring revenue assets Recurring revenue (rhs) 150.0 132.8 127.9 34.9 34.2 33.7 32.9 32.5 35.0 100.0 65.4 20.0 50.0 7.6 30.0 0.0 15.0 19.6 -50.0 18.5 18.3 18.1 18.7 25.0 -100.0 -101.8 10.0 20.0 -150.0 FY2021/22 FY2022/23 FY2021/22 FY2022/23 4Q 1Q 2Q 3Q 4Q Mar/4Q Jun/1Q Sep/2Q Dec/3Q Mar/4Q Flow business clients Services for salaried employees (thousands) ® Although down from last year, flow business client numbers (thousands) ® Growing ahead of target due mainly to ESOP increased in 4Q thanks to offerings 1,600 1,505 3,600 1,356 3,489 1,400 3,500 3,446 3,465 1,446 3,415 1,140 1,200 1,268 3,400 3,357 1,000 1,075 3,300 850 800 3,200 809 600 3,100 400 3,000 FY2021/22 FY2022/23 Jun Sep Dec Mar Mar Jun Sep Dec Mar 1. Total excludes investment trust distributions, and investment trust net inflows in level fee accounts. 8 2. Revenue from client assets and ongoing revenue (investment trusts, discretionary investments, insurance, loans, level fee assets, etc.). Figures from before FY2022/23 3Q have been reclassified following a revision to the scope of recurring revenue in FY2022/23 4Q.


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Investment Management Net revenue and income (loss) before income taxes Key points (billions of yen) Full year Quarter Full year Net revenue: Y128.6bn (-13% YoY) FY21/ FY21/ FY22/ FY22/23 Income before income taxes: Y43.5bn (-39% YoY) 22 QoQ YoY 22 23 4Q 1Q 2Q 3Q 4Q- Business revenue remained roughly unchanged YoY as decline in performance fees was offset by improved performance in aircraft leasing Net revenue 148.0 128.6 10.1 7.6 26.2 57.0 37.8 -34% 3.8x business at Nomura Babcock & Brown Non-interest expenses 76.5 85.1 18.9 19.3 20.6 23.7 21.5 -9% 14%- Investment gain/loss declined due to lower gain/loss related to investment Income (loss) before 71.5 43.5 -8.8 -11.7 5.6 33.3 16.4 -51%—in American Century Investments (ACI) and because the prior year income taxes included significant gain from listing of Nomura Capital Partners portfolio Breakdown of net revenue company (billions of yen) Fourth quarter 150.0 60.0 Net revenue: Y37.8bn (-34% QoQ; 3.8x YoY) Income before income taxes: Y16.4bn (-51% QoQ) 100.0 30.0 Investment Business revenue gain/loss Net revenue: Y28.7bn (-8% QoQ; -8% YoY) Business 0.0- Asset management business remained solid as AuM continued to grow 50.0 revenue and management fees were roughly the same as last quarter 0.0 -30.0- Nomura Babcock & Brown revenues slowed compared to last quarter Full year Quarter which included origination of a number of aircraft lease transactions FY21/ Investment gain/loss FY21/ FY22/ FY22/23 22 QoQ YoY Net revenue: Y9.1bn (-64% QoQ) 22 23 4Q 1Q 2Q 3Q 4Q Although gain/loss related to investment in and unrealized gains on- ACI Business revenue1 119.9 120.7 31.1 30.7 29.9 31.4 28.7 -8% -8% 2 Nomura Capital Partners portfolio companies contributed to revenues, Investment gain/loss 28.1 7.9 -21.1 -23.1 -3.7 25.6 9.1 -64%—Net revenue 148.0 128.6 10.1 7.6 26.2 57.0 37.8 -34% 3.8x investment gain/loss declined QoQ 1. Includes revenues from asset management business (excl. ACI-related gain/loss), Nomura Babcock & Brown aircraft leasing-related revenues and general partner management fees gained from private equity and other investment businesses, but excludes investment gains/losses. 2. Comprised of returns from investments (changes in fair valuation, funding costs, management fees, dividends, etc.) including ACI-related gain/loss, private equity/credit and other investment businesses gain/loss, and 9 Mebuki Financial Group investment gain/loss.


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Investment Management: Ongoing inflows into core investment trusts and alternatives Assets under management (net)1 (trillions of yen) Investment advisory and international businesses, etc. AuM lifted by market factors Investment trust business 80.0ï® Investment trust business 67.9 65.6 64.8 67.3 64.7 Outflows from MRFs, etc. (-Y360bn) and ETFs (-Y220bn), but inflows into 60.0 19.3 18.3 core investment trusts4 (+Y230bn) 18.1 18.1 17.7 Core investment trusts4: Nomura Securities channel booked inflows mainly into Japan equity fund 40.0 launched in January 48.6 47.5 49.0 Bank channel and DC funds also reported continued inflows 20.0 46.7 47.0 Investment advisory and international businesses 0.0 International business reported outflows from high yield bond and Japan FY2021/22 FY2022/23 equity funds Mar Jun Sep Dec Mar Japan booked inflows into alternatives Net inflows2, 3 Inflows driving steady growth in alternative AuM3, 5 (billions of yen) Investment advisory and international businesses, etc. (billions of yen) Investment trust business 1,500 1,000 1,209 1,148 1,263 1,103 500 226 1,000 193 478 843 372 89 57 0 -180 137 -100 -44 -358 500 -500 -928 -450 -134 -492 -1,000 0 FY2021/22 FY2022/23 FY2021/22 FY2022/23 4Q 1Q 2Q 3Q 4Q Mar Jun Sep Dec Mar 1. Net after deducting duplications from assets under management (gross) of Nomura Asset Management, Nomura Corporate Research and Asset Management, and Wealth Square, as well as third party investment by Nomura SPARX Investment, Nomura Mezzanine Partners, Nomura Capital Partners, and Nomura Research & Advisory 2. Based on assets under management (net). 3. Historical figures have been reclassified following a 10 review in FY2022/23 1Q to the method for measuring assets under management and the flow of funds. 4. Excluding ETFs and MRFs, etc.. 5. Total of Nomura Asset Management alternative AuM and third party investments related to Nomura SPARX Investment, Nomura Mezzanine Partners, Nomura Capital Partners, and Nomura Research & Advisory.


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Wholesale Net revenue and income (loss) before income taxes2 Key points Full year (billions of yen) Full year Quarter Net revenue: Y772.4bn (+10% YoY); Income before income taxes: Y29.4bn FY21 (-61% YoY) FY21 FY22 FY2022/23 Fixed Income revenues increased driven by Macro Products; In Equities /22 QoQ YoY /22 /23 losses related to transactions with a US client no longer present 4Q 1Q 2Q 3Q 4Q Expenses up due to yen depreciation and higher fixed costs amid inflation Net revenue 703.1 772.4 194.9 199.0 205.5 189.1 178.8 -5% -8% Fourth quarter Non-interest expenses 628.6 743.0 157.9 173.7 185.3 190.9 193.1 1% 22% Net revenue: Y178.8bn (-5% QoQ; -8% YoY); Loss before income taxes: Y14.2bn Income (loss) before 37.0 25.3 20.2 -1.9 In Fixed Income, Credit revenues declined mainly in Japan and AEJ; 74.5 29.4 -14.2 — Equities revenues declined from last quarter which included revenue income taxes arising from transactions with a US client, but Equity Products revenue increased driven by Americas CIR 89% 96% 81% 87% 90% 101% 108% In Investment Banking, Advisory revenues declined due to postponement of transactions mainly in the Americas and EMEA, while financing Revenue/modified RWA1 7.0% 6.5% 7.9% 7.3% 7.1% 5.9% 5.8% revenues from ECM/DCM and other transactions increased Net revenue by business line Net revenue by region (billions of yen) (billions of yen) 800.0 200.0 Investment 600.0 200.0 Banking 400.0 100.0 65.1 74.1 71.8 61.5 Americas Global 150.0 57.7 Markets 200.0 39.0 EMEA 0.0 0.0 37.0 36.1 44.2 27.9 100.0 Full year Quarter 40.2 50.4 32.4 AEJ FY21/ 32.8 34.5 FY21 FY22/ FY2022/23 50.0 22 QoQ YoY /22 23 60.9 Japan 4Q 1Q 2Q 3Q 4Q 50.9 51.0 51.0 48.9 Global Markets 556.4 656.3 158.2 175.3 177.5 154.3 149.3 -3% -6% 0.0 FY2021/22 FY2022/23 Investment Banking 146.6 116.1 36.7 23.7 28.0 34.8 29.6 -15% -20% Net revenue 703.1 772.4 194.9 199.0 205.5 189.1 178.8 -5% -8% 4Q 1Q 2Q 3Q 4Q 1. Wholesale net revenue (annualized) divided by modified risk-weighted assets (daily average for the accounting period) used by Wholesale. Modified risk-weighted assets (daily average for the accounting period) is a non-GAAP financial measure and is the total of (i) risk-weighted assets (as calculated and presented under Basel III) and (ii) an adjustment equal to the regulatory adjustment to common equity tier 1 capital calculated and presented under Basel III divided by our internal minimum capital ratio target. 2. Booked loss arising from transactions with a US client of Y65.4bn (Y56.1bn trading loss, Y9.3bn loan-loss provision) in FY2021/22 1Q. As the recoverable 11 amount for part of the claim related to the loss arising from transactions with a US client can now be reasonably estimated, gains of Y3.2bn (Y2.6bn trading revenue, Y500m loan-loss provision reversal) and Y11.5bn (Y9.5bn trading revenue, Y2bn loan-loss provision reversal) and Y11.1bn (Y9.1bn trading revenue, Y1.9bn loan-loss provision reversal) were booked in FY2021/22 3Q, FY2021/22 4Q and FY2022/23 3Q, respectively.


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Wholesale: Global Markets Net revenue Key points (billions of Full year Quarter Full year yen) Net revenue: Y656.3bn (+18% YoY) 700.0 200.0- Fixed Income revenues grew 23% driven by Macro Products- Equities revenues increased 11% as losses related to transactions with a US client were no longer present, offsetting a slowdown in Derivatives FI Others1 Fourth quarter Net revenue: Y149.3bn (-3% QoQ; -6% YoY) FI Macro- Fixed Income reported softer revenues in Credit, primarily in Japan Products2 and AEJ, while revenues from Securitized Products increased 100.0—Equities booked stronger revenues from Equity Products in the 300.0 FI Spread Products3 Americas, partially offsetting non repeat of revenue related to transactions with a US client booked last quarter 4 Fixed Income EQ Others Net revenue: Y87.5bn (+1% QoQ; +9% YoY) EQ Equity—Macro Products: Rates started the year strong driven by Japan, Products5 but slowed in March as volatility spiked; FX/EM booked stronger revenues in AEJ offsetting a slowdown in EMEA and 0.0 EQ Execution 6 Japan Services—Spread Products: Credit revenues declined in Japan and AEJ -100.0 on muted client activity and spread widening; Securitized Products reported stronger revenues on a rebound in activity FY21/22 FY2022/23 Equities FY21/22FY22/23 QoQ YoY 4Q 1Q 2Q 3Q 4Q Net revenue: Y61.8bn (-8% QoQ; -21% YoY) Fixed- Equity Products: Americas and Japan reported higher revenues 326.9 402.4 80.1 112.6 115.6 86.7 87.5 1% 9% driven by robust client activity, while revenues slowed in AEJ Income- Execution Services: EMEA booked higher revenues on a Equities 229.5 253.9 78.1 62.6 61.9 67.5 61.8 -8% -21% rebound in activity at the end of the quarter, while other regions Global reported lower revenues 556.4 656.3 158.2 175.3 177.5 154.3 149.3 -3% -6% Markets 1.International Wealth Management, businesses run together with Investment Banking, and other revenue not attributed to a particular desk. 2. Rates, FX/EM. 3. Credit, Securitized Products. 4. Businesses run together with Investment Banking, includes gain and losses related to transactions with a US client (trading loss of Y56.1bn was recorded in FY2021/22 1Q, and as the recoverable amount for part of the claim related to the trading loss can now be reasonably estimated, trading revenue of Y2.6bn, Y9.5bn and Y9.1bn was booked in FY2021/22 3Q, FY2021/22 4Q and FY2022/23 3Q , respectively), Other gains and losses not attributable to individual desk. 12 5. Cash and derivatives trading and Prime Services. 6. Equities execution business.


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Wholesale: Investment Banking Sustainability-related Cross-border Net revenue Executed multiple high profile deals; Highly ranked by third parties (billions Full year Quarterï® Announced several deals such as high profile tender offer and of yen) sustainability-related transactions 150.0 40.0 KKR’s (US) sale of Japan Industrial Softbank Group’s sale X-Elio Energy (Spain) Finance, Partners’ takeover bid to of SB Energy to 100.0 stock (50%) to Brookfield Solutions, etc. take Toshiba private Toyota Tsusho (Canada) 20.0 (Y2,115.2bn) (Undisclosed) Advisory (Undisclosed) 50.0 Advisory Sumitomo Electric Jamieson Wellness’s Sojitz and ISTS’s Industries’ fully (Canada) sale of (Thailand) acquisition of acquisition of Techno 0.0 0.0 Chinese business to Thai Central Chemical Associe and Nissin FY21 DPC Capital (China) (Thailand) FY2022/23 Electric FY21/22 FY22/23 /22 QoQ YoY (CNY241m) (THB3.9bn) (Y15.5bn / Y88.2bn) 4Q 1Q 2Q 3Q 4Q Signs of recovery in client demand for financing; Involved in 146.6 116.1 36.7 23.7 28.0 34.8 29.6 -15% -20% multiple high profile transactions Key points Enlight Renewable Japan Post Bank SBI Sumishin Net Bank Energy (Israel) Full year Global PO Global IPO IPO (Nasdaq) revenue: Y116.1bn -21% YoY) (Y1,231.7bn) (Y57.2bn) ï® Net ( ($289m)—Advisory revenues declined from record level1 in prior year, but remained solid on contributions from equity private placement transactions European Union Finance Asahi Group Holdings East Japan Railway—Financing revenues were sluggish in 1H due to market uncertainty, but Green bonds Green bonds / SB EUR Green bonds improved in 2H driven by Japan ECM additional issuance (Total Y100bn) (€750m) Fourth quarter (€6.0bn) ï® Net revenue: Y29.6bn (-15% QoQ; -20% YoY) Korean Development BJ’s Wholesale Club—Advisory slowed QoQ, while ECM/DCM revenues improved Diot-Siaci (France) Bank (US) Refinance Advisory Add-on Finance USD Bonds (Amend-and-Extend)—Americas and EMEA slowed as fee pool declined due to unstable market (€200m) ($2.0bn) ($450m) conditions and several transactions were postponed; High profile mandates Refinitiv contributed to Japan revenues The Banker IFR Finance, Solutions, etc.2 DealWatch Awards Investment Banking IFR Awards 2022—ECM revenues increased QoQ driven by high profile Japan transactions 2022 Awards 2022—DCM revenues grew QoQ as we supported multiple ESG/SDG bond—House of the Year Yen Bond House issuances Investment Bank of the Year —Equity House of the Year for Sustainable SSA Financing of the Year 1. Since FY2012/13 13 2. ECM, DCM, ALF, businesses run together with Global Markets, other revenue not attributed to a particular product.


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Non-interest expenses Full year Fourth quarter Key points (billions of yen) (billions of yen) Full year ï® Non-interest expenses: Y1,186.1bn 1,500—Up 4% YoY due mainly to yen Other 400 depreciation; Declined YoY when FX 1,137.3 1,186.1 impact stripped out Business development 310.1 302.2 Compensation and benefits (+14% YoY) 291.3 – expenses 287.3 286.5 1,000 Due mainly to yen depreciation, high fixed costs due to inflation, and platform Occupancy and related enhancement depreciation 200 Other expenses (-30% YoY) Information processing –and communications Decline in legal expenses related to 500 legacy transactions Commissions and floor brokerage Fourth quarter ï® Non-interest expenses: Y302.2bn Compensation and benefits (-3% QoQ) 0 0 Compensation and benefits (- .5% QoQ) FY2021/ FY2022/ FY2021/22 FY2022/23 – 0 QoQ Increase due to year-end bonus 22 23 4Q 1Q 2Q 3Q 4Q adjustment offset by yen appreciation Compensation and benefits and decline in severance related 529.5 605.8 125.6 143.1 150.9 156.3 155.6 -0.5% expenses Commissions and f loor brokerage 105.2 119.2 26.9 28.5 28.2 32.3 30.3 -6.1% – Commissions and floor brokerage Information processing and communications 184.3 209.5 48.5 49.7 52.1 54.0 53.7 -0.6% (-6% QoQ) Occupancy and related depreciation 69.7 66.9 17.7 16.4 16.6 17.2 16.7 -2.9% Lower trading volumes and Business dev elopment expenses 15.6 22.6 4.0 4.7 5.4 6.3 6.3 -0.6% commissions related to origination of aircraft leases Other 232.9 162.0 68.6 45.0 33.3 44.0 39.8 -9.7% Total 1,137.3 1,186.1 291.3 287.3 286.5 310.1 302.2 -2.5% 14


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Robust financial position Balance sheet related indicators and capital ratios RWA and CET 1 capital ratio3 (trillions of yen) Mar 2022 Dec 2022 Mar 2023 RWA (Basel 3) (lhs) CET 1 capital ratio (Basel 3) (rhs) ï® Total assets Y43.4trn Y49.2trn Y47.8trn 20.0 17.2% 16.7% 16.9% 20.0% 16.0% 16.2% ® Shareholders’ equity Y2.9trn Y3.1trn Y3.1trn 15.0 15.0% ® Gross leverage 14.9x 15.7x 15.2x 10.0 10.0% Net leverage1 9.1x 9.3x 9.4x ® Level 3 assets2 (net) Y0.8trn Y1.0trn Y0.9trn 5.0 5.0% ® Liquidity portfolio Y7.1trn Y7.6trn Y7.6trn 0.0 0.0% FY2021/22 FY2022/23 (billions of yen) Mar Dec Mar Mar Jun Sep Dec Mar Basel 3 basis 2022 2022 20232 Tier 1 capital 3,103 3,248 3,205 Changes in RWA2 Tier 2 capital 0.4 0.4 0.4 (trillions of yen) Total capital 3,103 3,248 3,205 20.00 17.93 RWA 15,830 17,934 17,380 0.19 -0.84 17.38 0.10 Tier 1 capital ratio 19.6% 18.1% 18.4% 2.57 2.67 Operational risk 15.00 CET 1 capital ratio3 17.2% 16.0% 16.2% Credit risk Market risk Operational Consolidated capital adequacy ratio 19.6% 18.1% 18.4% 7.11 risk 6.27 Market risk 10.00 Consolidated leverage ratio4 5.98% 5.53% 5.65% HQLA5 Y6.0trn Y5.9trn Y6.5trn 5.00 5 8.25 8.44 Credit risk LCR 241.7% 181.1% 203.8% TLAC ratio (RWA basis) 30.7% 29.6% 31.6% 0.00 TLAC ratio (Total exposure basis) 10.30% 10.01% 10.67% Dec 2022 Mar 2023 1. Net leverage: Total assets minus securities purchased under agreements to resell and securities borrowed, divided by Nomura Holdings shareholders’ equity. 2. March 2023 is preliminary. 3. CET 1 capital ratio is defined as Tier 1 capital minus Additional Tier 1 capital divided by risk-weighted assets. 15 4. Tier 1 capital divided by exposure (sum of on-balance sheet exposures and off-balance sheet items). 5. Daily average for each quarter.


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Financial Supplement


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Consolidated balance sheet Consolidated balance sheet (billions of yen) Mar 31, Mar 31, Increase Mar 31, Mar 31, Increase 2022 2023 (Decrease) 2022 2023 (Decrease) Assets Liabilities Total cash and cash deposits 4,064 4,521 458 Short-term borrowings 1,050 1,009 -42 Total payables and deposits 4,920 5,297 377 Total loans and receivables 5,001 5,207 206 Total collateralized financing 14,538 16,109 1,571 Trading liabilities 9,652 10,558 906 Total collateralized agreements 16,876 18,117 1,241 Other liabilities 1,020 1,176 155 Long-term borrowings 9,258 10,399 1,141 Total trading assets and private 1 15,296 17,609 2,313 Total liabilities 40,439 44,548 4,108 equity and debt investments Total other assets1 2,175 2,317 141 Equity Total NHI shareholders’ equity 2,915 3,149 234 Noncontrolling interest 58 76 17 Total assets 43,412 47,772 4,360 Total liabilities and equity 43,412 47,772 4,360 17 1. Including securities pledged as collateral.


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Value at risk Definition From April 1, 2022, to March 31, 2023 (billions of yen) 95% confidence level Maximum: 6.8 1-day time horizon for outstanding portfolio Minimum: 2.7 Inter-product price fluctuations considered Average: 4.8 (billions of yen) FY2021/22 FY2022/23 FY2021/22 FY2022/23 Mar Mar Mar Jun Sep Dec Mar Equity 1.4 3.3 1.4 1.7 2.4 3.5 3.3 Interest rate 2.3 4.7 2.3 4.8 3.7 4.0 4.7 Foreign exchange 0.9 1.4 0.9 1.8 1.6 1.8 1.4 Sub-total 4.6 9.4 4.6 8.4 7.7 9.3 9.4 Diversification benefit -1.9 -3.3 -1.9 -3.4 -2.8 -3.7 -3.3 VaR 2.7 6.2 2.7 5.0 4.9 5.6 6.2 18


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Consolidated financial highlights Full year Quarter (billions of yen) 200 8% 200 8% Net income (loss) 143.0 attributable to 150 5.1% 6% 150 6% Nomura Holdings, 5.1% Inc. (“NHI”) shareholders 92.8 3.8% 100 4% 100 4% 3.1% ROE (%) 3.1% 66.9 50 2% 50 1.2% 2% 31.0 0.2% 16.8 7.4 1.7 0 0% 0 0% FY2021/22 FY2022/23 FY2021/22 FY2022/23 4Q 1Q 2Q 3Q 4Q Net revenue 1,363.9 1,335.6 340.8 299.0 318.0 393.7 324.9 Income (loss) before income taxes 226.6 149.5 49.5 11.7 31.5 83.6 22.7 Net income (loss) attributable to Nomura 143.0 92.8 31.0 1.7 16.8 66.9 7.4 Holdings, Inc. (“NHI”) shareholders Total NHI shareholders’ equity 2,914.6 3,148.6 2,914.6 3,055.5 3,163.0 3,138.8 3,148.6 ROE (%)1 5.1% 3.1% 5.1% 0.2% 1.2% 3.8% 3.1% Basic-Net income (loss) attributable to NHI 46.68 30.86 10.26 0.56 5.59 22.30 2.46 shareholders per share (yen) Diluted-Net income (loss) attributable to NHI 45.23 29.74 9.89 0.52 5.41 21.51 2.34 shareholders per share (yen) Total NHI shareholders’ equity per share (yen) 965.80 1,048.24 965.80 1,017.18 1,053.91 1,045.65 1,048.24 19 1. Quarterly ROE is calculated using annualized year-to-date net income.


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Consolidated income Full year Quarter (billions of yen) FY2021/22 FY2022/23 FY2021/22 FY2022/23 4Q 1Q 2Q 3Q 4Q Revenue Commissions 332.3 279.9 75.2 70.4 68.2 77.5 63.8 Fees from investment banking 149.6 113.2 34.0 27.3 24.2 33.8 28.0 Asset management and portfolio service fees 270.0 271.7 68.9 68.3 69.0 67.0 67.4 Net gain on trading 368.8 563.3 118.9 141.9 160.9 142.1 118.3 Gain (loss) on private equity and debt investments 30.8 14.5 -0.3 -4.5 5.7 8.1 5.3 Interest and dividends 284.2 1,114.7 67.1 109.0 196.9 373.3 435.5 Gain (loss) on investments in equity securities 5.4 -1.4 2.5 -1.7 -1.5 0.6 1.2 Other 152.8 130.9 39.6 -0.7 10.5 69.8 51.4 Total revenue 1,594.0 2,486.7 405.9 410.0 533.9 772.2 770.7 Interest expense 230.1 1,151.1 65.1 110.9 215.9 378.6 445.7 Net revenue 1,363.9 1,335.6 340.8 299.0 318.0 393.7 324.9 Non-interest expenses 1,137.3 1,186.1 291.3 287.3 286.5 310.1 302.2 Income (loss) before income taxes 226.6 149.5 49.5 11.7 31.5 83.6 22.7 Net income (loss) attributable to NHI shareholders 143.0 92.8 31.0 1.7 16.8 66.9 7.4 20


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Main revenue items Full year Quarter (billions of yen) FY2021/22 FY2022/23 FY2021/22 FY2022/23 4Q 1Q 2Q 3Q 4Q Stock brokerage commissions 236.4 190.8 53.1 48.4 48.5 52.6 41.3 Commissions Other brokerage commissions 18.0 17.9 5.5 4.8 4.7 4.3 4.0 Commissions for distribution of investment trusts 43.7 30.3 6.5 7.5 6.4 8.3 8.0 Other 34.3 41.0 10.1 9.7 8.6 12.2 10.4 Total 332.3 279.9 75.2 70.4 68.2 77.5 63.8 Equity underwriting and distribution 33.1 18.9 3.1 3.7 1.6 8.1 5.4 Fees from Bond underwriting and distribution 29.8 21.1 6.3 6.7 4.5 4.5 5.4 investment banking M&A / Financial advisory fees 64.2 53.9 20.0 14.0 14.3 14.3 11.3 Other 22.4 19.3 4.6 2.8 3.8 6.9 5.7 Total 149.6 113.2 34.0 27.3 24.2 33.8 28.0 Asset management fees 171.1 171.3 44.4 43.7 43.2 41.8 42.6 Asset management Administration fees 79.6 76.2 19.5 19.0 19.6 19.0 18.6 and portfolio service fees Custodial fees 19.4 24.2 4.9 5.6 6.2 6.2 6.2 Total 270.0 271.7 68.9 68.3 69.0 67.0 67.4 21


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Consolidated results: Income (loss) before income taxes by segment and region Adjustment of consolidated results and segment results: Income (loss) before income taxes Full year Quarter (billions of yen) FY2021/22 FY2022/23 FY2021/22 FY2022/23 4Q 1Q 2Q 3Q 4Q Retail 59.2 33.5 5.2 4.9 5.5 13.3 9.8 Investment Management 71.5 43.5 -8.8 -11.7 5.6 33.3 16.4 Wholesale 74.5 29.4 37.0 25.3 20.2 -1.9 -14.2 Three business segments total 205.2 106.4 33.5 18.5 31.2 44.7 11.9 Other 15.8 73.4 14.9 -3.9 2.1 59.5 15.7 Segments total 221.0 179.7 48.4 14.6 33.3 104.3 27.6 Unrealized gain (loss) on investments in equity 5.6 -30.3 1.2 -2.8 -1.8 -20.7 -4.9 securities held for operating purposes Income (loss) before income taxes 226.6 149.5 49.5 11.7 31.5 83.6 22.7 Geographic information: Income (loss) before income taxes1 Full year Quarter (billions of yen) FY2021/22 FY2022/23 FY2021/22 FY2022/23 4Q 1Q 2Q 3Q 4Q Americas -41.0 -51.7 -19.4 -21.6 -21.4 7.9 -16.6 Europe -21.8 9.2 -4.2 -1.9 6.4 8.3 -3.6 Asia and Oceania 28.6 31.0 3.9 8.3 15.6 -1.7 8.7 Subtotal -34.1 -11.5 -19.7 -15.2 0.6 14.6 -11.5 Japan 260.8 161.0 69.2 26.9 30.9 69.0 34.2 Income (loss) before income taxes 226.6 149.5 49.5 11.7 31.5 83.6 22.7 1. Geographic information is based on U.S. GAAP. (Figures are preliminary for the three months ended March 31, 2023). Nomura’s revenues and expenses are allocated based on the country of domicile of the 22 legal entity providing the service. This information is not used for business management purposes.


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Segment “Other” Income (loss) before income taxes Full year Quarter (billions of yen) 90 73.4 60 59.5 30 15.8 14.9 15.7 2.1 0 1 -3 2.9 3 4 5 -30 FY2021/22 FY2022/23 FY2021/22 FY2022/23 4Q 1Q 2Q 3Q 4Q Net gain (loss) related to economic -9.9 -4.8 -8.4 -9.8 0.1 -1.5 6.3 hedging transactions Realized gain (loss) on investments in equity 1.4 28.4 1.1 0.2 0.1 21.9 6.2 securities held for operating purposes Equity in earnings of affiliates 36.8 47.7 16.2 17.0 9.1 8.9 12.7 Corporate items -91.1 -12.6 -34.4 -6.0 4.5 -3.3 -7.8 Others 78.6 14.7 40.4 -5.3 -11.7 33.5 -1.8 Income (loss) before income taxes 15.8 73.4 14.9 -3.9 2.1 59.5 15.7 23


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Retail related data (1) Full year Quarter (billions of yen) FY2021/22 FY2022/23 FY2021/22 FY2022/23 4Q 1Q 2Q 3Q 4Q QoQ YoY Commissions 138.5 112.5 27.8 26.0 26.2 31.2 29.1 -6.7% 4.6% Of which, stock brokerage commission 67.4 50.9 14.4 11.8 12.2 13.4 13.4 0.3% -6.9% Of which, commissions for distribution of investment trusts 43.5 30.2 6.5 7.5 6.4 8.3 8.0 -3.6% 23.6% Sales credit 44.0 44.2 9.1 10.4 10.9 12.2 10.6 -13.2% 16.4% Fees from investment banking and other 19.0 16.2 2.8 3.5 3.2 5.2 4.2 -19.1% 54.0% Investment trust administration fees and other 109.3 108.1 26.4 26.8 27.6 27.1 26.6 -1.8% 0.7% Net interest revenue 17.2 19.3 4.4 4.7 4.5 5.3 4.8 -9.7% 9.0% Net revenue 328.0 300.2 70.5 71.4 72.5 81.0 75.3 -7.1% 6.9% Non-interest expenses 268.7 266.7 65.3 66.5 67.0 67.8 65.5 -3.4% 0.3% Income before income taxes 59.2 33.5 5.2 4.9 5.5 13.3 9.8 -25.9% 89.1% Domestic distribution volume of investment trusts1 2,197.0 2,111.0 425.7 506.3 479.6 647.1 478.0 -26.1% 12.3% Stock investment trusts 1,931.5 1,560.3 335.1 374.8 351.0 438.3 396.2 -9.6% 18.3% Foreign investment trusts 265.5 550.7 90.7 131.5 128.6 208.8 81.8 -60.8% -9.8% Other Accumulated value of annuity insurance policies 3,818.9 4,147.5 3,818.9 3,874.7 3,945.4 4,068.5 4,147.5 1.9% 8.6% Sales of JGBs for individual investors (transaction base) 618.6 526.2 177.8 167.7 93.7 111.4 153.4 37.7% -13.7% Retail foreign currency bond sales 643.0 949.6 100.6 160.8 279.6 239.5 269.7 12.6% 168.0% 24 1. Including former Net & Call.


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Retail related data (2) Retail client assets (trillions of yen) 140 Other 122.1 122.2 122.1 122.2 119.4 117.7 117.5 Foreign investment 120 trusts 100 Bond investment trusts 80 Stock investment trusts 60 Domestic bonds 40 Foreign currency 20 bonds Equities 0 FY2021/22 FY2022/23 FY2021/22 FY2022/23 Mar Mar Mar Jun Sep Dec Mar Equities 77.5 78.0 77.5 75.7 74.0 74.4 78.0 Foreign currency bonds 5.1 5.3 5.1 5.3 5.4 5.2 5.3 Domestic bonds1 12.6 13.2 12.6 12.7 12.9 12.9 13.2 Stock investment trusts 10.8 10.2 10.8 10.0 9.8 9.7 10.2 Bond investment trusts 7.5 6.8 7.5 7.4 7.2 7.1 6.8 Foreign investment trusts 1.3 1.2 1.3 1.3 1.2 1.2 1.2 Other2 7.3 7.5 7.3 7.1 7.2 7.0 7.5 Total 122.1 122.2 122.1 119.4 117.7 117.5 122.2 25 1. Including CBs and warrants. 2. Including annuity insurance.


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Retail related data (3) Net inflows of cash and securities1 (billions of yen) Full year Quarter Corporates Individuals Corporates Individuals 1,200 1,200 900 900 600 600 300 300 0 0 -300 -300 -600 -600 FY2021/22 FY2022/23 FY2021/22 FY2022/23 4Q 1Q 2Q 3Q5 4Q Corporates2 -136 282 722 125 267 -137 27 Individuals3 488 438 -82 376 -369 259 173 Total 351 720 641 500 -102 122 200 Inflows of cash and securities4 4,180 4,057 901 1,062 921 1,010 1,064 1. Cash and securities inflows minus outflows, excluding regional financial institutions. 2. Incudes Corporate section (excluding regional financial institutions) and Japan Wealth Management Group. 3. Includes Retail channels, Net & Call, intermediary, salaried employee business, and Hotto Direct. 4. Retail channels only. 26 5. Revised figures for the FY2022/23 3Q.


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Retail related data (4) Number of accounts (thousands) FY2021/22 FY2022/23 FY2021/22 FY2022/23 Mar Mar Mar Jun Sep Dec Mar Accounts with balance 5,348 5,353 5,348 5,354 5,359 5,352 5,353 Equity holding accounts 2,955 2,963 2,955 2,958 2,957 2,950 2,963 NISA accounts opened (accumulated)1 1,589 1,632 1,589 1,598 1,609 1,625 1,632 Online service accounts 5,067 5,208 5,067 5,102 5,136 5,173 5,208 New Individual accounts / IT share2 Full year Quarter (thousands) FY2021/22 FY2022/23 FY2021/22 FY2022/23 4Q 1Q 2Q 3Q 4Q New individual accounts 201 199 49 48 48 48 55 IT share2 No. of orders 83% 85% 85% 85% 86% 84% 85% Transaction value 59% 59% 60% 59% 60% 58% 59% 1. Including Junior NISA. 27 2. Ratio of cash stocks traded via online service.


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Investment Management related data (1) Full year Quarter FY2021/22 FY2022/23 (billions of yen) FY2021/22 FY2022/23 QoQ YoY 4Q 1Q 2Q 3Q 4Q Business revenue 119.9 120.7 31.1 30.7 29.9 31.4 28.7 -8.4% -7.7% Investment gain/loss 28.1 7.9 -21.1 -23.1 -3.7 25.6 9.1 -64.5% -Net revenue 148.0 128.6 10.1 7.6 26.2 57.0 37.8 -33.6% 3.8x Non-interest expenses 76.5 85.1 18.9 19.3 20.6 23.7 21.5 -9.2% 14.0% Income (loss) before income taxes 71.5 43.5 -8.8 -11.7 5.6 33.3 16.4 -50.9%—Assets under management by company (trillions of yen) FY2021/22 FY2022/23 FY2021/22 FY2022/23 Mar Mar Mar Jun Sep Dec Mar Nomura Asset Management 69.6 69.1 69.6 67.4 66.6 66.5 69.1 Nomura Corporate Research and Asset Management, etc. 3.9 3.9 3.9 3.7 3.9 3.8 3.9 Assets under management (gross)1 73.5 73.0 73.5 71.1 70.5 70.2 73.0 Group company overlap 5.5 5.7 5.5 5.5 5.7 5.6 5.7 Assets under management (net)2 67.9 67.3 67.9 65.6 64.8 64.7 67.3 1. Total of assets under management (gross) of Nomura Asset Management, Nomura Corporate Research and Asset Management, and Wealth Square, as well as third party investment by Nomura SPARX Investment , Nomura Mezzanine Partners, Nomura Capital Partners, and Nomura Research & Advisory. 28 2. Net after deducting duplications from assets under management (gross).


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Investment Management related data (2) Asset inflows/outflows by business1 2 Full year Quarter FY2021/22 FY2022/23 (billions of yen) FY2021/22 FY2022/23 4Q 1Q 2Q 3Q 4Q Investment trusts business 1,236 156 372 478 137 -100 -358 of which ETFs 683 -250 383 323 -5 -347 -221 Investment advisory and 830 -916 -180 -928 89 57 -134 international businesses Total net asset inflow 2,066 -760 193 -450 226 -44 -492 Domestic public investment trust market and Nomura Asset Management market share3 FY2021/22 FY2022/23 FY2021/22 FY2022/23 (trillions of yen) Mar Mar Mar Jun Sep Dec Mar Domestic public investment trusts Market 163.1 166.2 163.1 156.7 155.0 157.2 166.2 Nomura Asset Management share (%) 27% 27% 27% 27% 27% 27% 27% Domestic public stock investment trusts Market 148.9 152.2 148.9 142.3 140.9 142.7 152.2 Nomura Asset Management share (%) 25% 25% 25% 26% 25% 25% 25% Domestic public bond investment trusts Market 14.2 13.9 14.2 14.3 14.1 14.5 13.9 Nomura Asset Management share (%) 44% 44% 44% 44% 44% 44% 44% ETF Market 61.8 63.3 61.8 59.6 57.9 59.2 63.3 Nomura Asset Management share (%) 44% 44% 44% 44% 44% 44% 44% 1. Based on assets under management (net). 2. Historical figures have been reclassified following a review in FY2022/23 1Q to the method for measuring assets under management and the flow of funds. 29 3. Source Investment Trusts Association, Japan.


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Wholesale related data Full year Quarter (billions of yen) FY2021/22 FY2022/23 FY2021/22 FY2022/23 QoQ YoY 4Q 1Q 2Q 3Q 4Q Net revenue 703.1 772.4 194.9 199.0 205.5 189.1 178.8 -5.4% -8.2% Non-interest expenses 628.6 743.0 157.9 173.7 185.3 190.9 193.1 1.1% 22.3% Income (loss) before income taxes 74.5 29.4 37.0 25.3 20.2 -1.9 -14.2 — Breakdown of Wholesale revenues Full year Quarter (billions of yen) FY2021/22 FY2022/23 FY2021/22 FY2022/23 QoQ YoY 4Q 1Q 2Q 3Q 4Q Fixed Income 326.9 402.4 80.1 112.6 115.6 86.7 87.5 0.9% 9.3% Equities 229.5 253.9 78.1 62.6 61.9 67.5 61.8 -8.5% -20.9% Global Markets 556.4 656.3 158.2 175.3 177.5 154.3 149.3 -3.2% -5.6% Investment Banking 146.6 116.1 36.7 23.7 28.0 34.8 29.6 -15.1% -19.6% Net revenue 703.1 772.4 194.9 199.0 205.5 189.1 178.8 -5.4% -8.2% 30


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Number of employees FY2021/22 FY2022/23 FY2021/22 FY2022/23 Mar Mar Mar Jun Sep Dec Mar Japan 15,213 15,131 15,213 15,503 15,384 15,282 15,131 Europe 2,820 2,937 2,820 2,811 2,869 2,908 2,937 Americas 2,257 2,387 2,257 2,252 2,358 2,392 2,387 Asia and Oceania1 6,295 6,320 6,295 6,407 6,520 6,634 6,320 Total 26,585 26,775 26,585 26,973 27,131 27,216 26,775 31 1. Includes Powai office in India.


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