6-K 1 d260976d6k.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 2022

 

 

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 2022


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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 2, 2022   By:   

/s/ Yoshifumi Kishida

     Yoshifumi Kishida
     Senior Managing Director


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Consolidated Results of Operations Fourth quarter, year ended March 2022 (US GAAP) Nomura Holdings, Inc. April 2022    


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Outline Presentation    Executive summary (p. 2-3) Overview of results (p. 4) Business segment results (p. 5) Retail (p. 6-7) Investment Management (p. 8-9) Wholesale (p. 10-12) Non-interest expenses (p. 13) Robust financial position (p. 14) Funding and liquidity (p. 15)    Financial Supplement    Consolidated balance sheet (p. 17) Value at risk (p. 18) Consolidated financial highlights (p. 19) Consolidated income (p. 20) Main revenue items (p. 21)    Consolidated results: Income (loss) before income taxes by segment and region (p. 22)    Segment “Other” (p. 23)    Retail related data (p. 24-27)    Investment Management related data (p. 28-29) Wholesale related data (p. 30) Number of employees (p. 31)    


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Executive summary (1/2) FY2021/22 full year highlights ï® Income before income taxes: Y226.6bn (-2% YoY); Net income1: Y143bn (-7% YoY); EPS2: Y45.23; ROE3: 5.1%ï® Three segment income before income taxes of Y205.2bn (-17% YoY) – Retail: Gained traction in shift to asset consulting with net inflows into investment trusts and discretionary investments lifting recurring revenue and consulting-related revenue also increased; Sales of stocks and investment trusts slowed as investors took risk-off stance – Investment Management: Inflows helped boost AuM and business revenue increased, while market factors led to a worsening of investment gain/loss – Wholesale: Investment Banking revenues increased driven by international Advisory business; Equities reported smaller loss related to transactions with a US client    Shareholder returns ï® Dividend per share:—Year-end Y14; Annual Y22 ï® Launched share buyback program to raise capital efficiency and ensure a flexible capital management policy and to deliver as stock-based compensation—Total shares: Upper limit of 50 million shares—Total value: Upper limit of Y30bn—Period: From May 17, 2022, to March 31, 2023    FY2021/22 FY2020/21 YoY Net revenue Y1,363.9bn Y1,401.9bn -3% Income (loss) before Y226.6bn Y230.7bn -2% income taxes Net income (loss)1 Y143.0bn Y153.1bn -7% EPS2 Y45.23 Y48.63 -7% ROE3 5.1% 5.7%    Income (loss) before income taxes: FY2021/22 FY2020/21 YoY Business segment results4 Retail Y59.2bn Y92.3bn -36% Investment Management Y71.5bn Y91.0bn -21% Wholesale Y74.5bn Y64.3bn 16% Three segment total Y205.2bn Y247.6bn -17% Other Y15.8bn -Y28.5bn -Unrealized gain (loss) on investments in equity Y5.6bn Y11.5bn -51% securities held for operating purposes Income (loss) before income taxes Y226.6bn Y230.7bn -2%    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 attributable to Nomura Holdings shareholders for each period. 4. On April 1, 2021, Asset Management and Merchant Banking were dissolved and Investment Management newly established. As a result, historical figures have been reclassified in line with the disclosure format for FY2021/22.    2


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Executive summary (2/2)    FY2021/22 4Q highlights ï® Income before income taxes: Y49.5bn; Net income1: Y31bn ï® Retail performance and Investment Management investment gain/loss both impacted by market slump on back of rising US interest rates and geopolitical risksï® Wholesale remained relatively resilient with more diverse revenue mix ï® Three segment income before income taxes of Y33.5bn (-58% YoY) Retail – Sales of stocks and investment trusts slowed as investors took risk-off stance due to bear market from start of year and heightened geopolitical risks from mid-February Investment Management – Assets under management of Y67.9trn represents second highest level following record high last quarter as market drop only partially offset by inflows – Investment gain/loss worsened due to market factors Wholesale – Global Markets delivered solid revenues driven by diversification across regions and products amid market dislocations – Investment Banking revenues remained elevated as Advisory revenues outstripped the strong previous quarter ï® Segment Other income before income taxes of Y14.9bn (9.0x YoY) – Realized gain on partial sale of stake in the affiliate company, Nomura Research Institute (Y42.8bn) – Booked additional expenses (Y23bn) related to legacy transactions in the Americas from before the global financial crisis (2007 – 2008) 4.3% Y9.89 17.1% ROE2 EPS3 CET1 capital ratio4    Income (loss) before income taxes and net income (loss)1 Firmwide (billions of yen) 181.8 131.3 142.5 83.6 98.4 78.5 80.1 67.6 48.5 49.5 18.5 60.3 31.0 3.2 Income (loss) before income taxes -155.4 Net income (loss) -166.1 FY2020/21 FY2021/22 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Three segment income (loss) before income taxes 125.1 100.4 126.7 79.2 57.0 35.6 33.5 -104.5 Wholesale Investment Management Retail FY2020/21 FY2021/22 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q    1. Net income (loss) attributable to Nomura Holdings shareholders.    2. Calculated using annualized net income attributable to Nomura Holdings shareholders for each period. 3. Diluted net income (loss) attributable to Nomura Holdings shareholders per share. 4. CET 1 capital ratio is defined as Tier 1 capital minus Additional Tier 1 capital divided by risk-weighted assets.    


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Overview of results Highlights FY2021/22 FY2021/22 QoQ YoY YoY 4Q Full year Net revenue Y340.8bn -3% 100% Y1,363.9bn -3% Non-interest expenses Y291.3bn 8% -13% Y1,137.3bn -3% Income (loss) before income Y49.5bn -38%—Y226.6bn -2% taxes Net income (loss)1 Y31.0bn -49%—Y143.0bn -7% EPS2 Y9.89 -48%—Y45.23 -7% ROE3 4.3% 5.1% 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 attributable to Nomura Holdings shareholders for each period.


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Business segment results Net revenue and income (loss) before income taxes1 FY2021/22 FY2021/22 QoQ YoY YoY 4Q Full year Net revenue Retail Y70.5bn -19% -27% Y328.0bn -11% Investment Management Y10.1bn -75% -81% Y148.0bn -9% Wholesale Y194.9bn -4%—Y703.1bn 2% Subtotal Y275.4bn -17% 84% Y1,179.0bn -4% Other* Y64.2bn 198% 4.2x Y179.2bn 7% Unrealized gain (loss) on investments in equity Y1.2bn—-75% Y5.6bn -51% securities held for operating purposes Net revenue Y340.8bn -3% 100% Y1,363.9bn -3% Income Retail Y5.2bn -71% -80% Y59.2bn -36% (loss) before Income Investment Management -Y8.8bn — Y71.5bn -21% taxes Wholesale Y37.0bn -9%—Y74.5bn 16% Subtotal Y33.5bn -58%—Y205.2bn -17% Other* Y14.9bn 9.0x—Y15.8bn -Unrealized gain (loss) on investments in equity Y1.2bn—-75% Y5.6bn -51% securities held for operating purposes Income (loss) before income taxes Y49.5bn -38%—Y226.6bn -2% *Additional information on ï® Realized gain on partial sale of stake in the affiliate company, Nomura Research Institute (Y42.8bn) “Other” (4Q)ï® Loss related to economic hedging (Y8.4bn) ï® Booked additional expenses (Y23bn) related to legacy transactions in the Americas from before the global financial crisis (2007 – 2008) 1. On April 1, 2021, Asset Management and Merchant Banking were dissolved and Investment Management newly established. As a result, historical figures have been reclassified in line with the disclosure format 5 for FY2021/22.    


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Retail Net revenue and income before income taxes (billions of yen) Full year Quarter FY20/ FY20/ FY21/ FY2021/22 21 QoQ YoY 21 22 4Q 1Q 2Q 3Q 4Q Net revenue 368.8 328.0 96.8 85.0 85.2 87.4 70.5 -19% -27% Non-interest expenses 276.5 268.7 70.7 66.0 68.2 69.3 65.3 -6% -8% Income before income 92.3 59.2 26.1 19.0 17.0 18.0 5.2 -71% -80% taxes Total sales1 (billions of yen) Stocks Bonds Investment trusts Discretionary investments, Insurance products 3,000 2,000 1,000 0 FY2020/21 FY2021/22 4Q 1Q 2Q 3Q 4Q 1. Retail channels only. 2. Retail channels, Net & Call, Hotto Direct and Japan Wealth Management Group (included from FY2020/21 3Q).    Key points Full year ï® Net revenue: Y328bn (-11% YoY) ï® Income before income taxes: Y59.2bn (-36% YoY)—Sales of stocks and investment trusts declined on lower investor sentiment due to further wave in pandemic, changes to monetary policy and geopolitical risks—Recurring revenue assets increased on net inflows into investment trusts and discretionary investments; Recurring revenue cost coverage ratio increased to 40% Fourth quarter ï® Net revenue: Y70.5bn (-19% QoQ; -27% YoY) ï® Income before income taxes: Y5.2bn (-71% QoQ; -80% YoY)—Sales of stocks and investment trusts slowed as investors took risk-off stance due to bear market from start of year and heightened geopolitical risks from mid-February—Recurring revenue assets declined due to market factors Total sales1 decreased 20% QoQï® Stocks: -15% QoQ – Sales of Japan and foreign stocks slowed but started to recover in March – Primary stock subscriptions2 declined (Y24.9bn; -87% QoQ) ï® Investment trusts: -41% QoQ – Sales of global stock investment trusts slowed due to a market adjustment in US equities and market uncertainty ï® Bonds: Y396bn; -3% QoQ – Sales of domestic bonds increased driven by primary transactions, while foreign bond sales declined ï® Sales of discretionary investments and insurance declined 42% QoQ – SMA and Fund Wrap contracts both declined, insurance sales were also lower 6    


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Retail: Slower progress across all 4Q KPIs due to external factors, but recurring revenue/recurring revenue assets and consulting-related revenue grew for full year 4Q recurring revenue declined on market drop, but increased 23% YoY on full year basis; Recurring revenue cost coverage ratio increased to 40%    Recurring revenue assets (trillions of yen) Recurring revenue (billions of yen) 27.2 28.1 25.7 106.3 25.2 23.2 86.1 20.3 19.1 19.5 19.6 18.2 FY2020/21 FY2021/22 FY2020/21 FY2021/22 Mar/4Q Jun/1Q Sep/2Q Dec/3Q Mar/4Q Consulting-related revenue ï® 4Q declined mainly from insurance and M&A-related revenue, but increased 24% YoY on full year basis (billions of yen) 16.7 4.4 4.5 4.4 13.4 4.0 3.8 FY2020/21 FY2021/22 FY2020/21 FY2021/22 4Q 1Q 2Q 3Q 4Q    ï® Year-end factors and redemptions led to net outflows in investment trusts, while discretionary investments continued to book monthly net inflows FY20/21 FY2021/22 (billions of yen) FY20/21 FY21/22 4Q 1Q 2Q 3Q 4Q Investment trust 1 101.4 263.8 25.4 89.2 78.1 114.4 -17.8 net inflows Discretionary investment 1 -187.2 359.9 -12.3 78.5 90.2 129.4 61.8 net inflows Recurring revenue cost 31% 40% 33% 38% 40% 41% 39% coverage ratio ï® Client franchise (Mar/4Q)—Net inflows of cash and securities2 +Y640.7bn—Retail client assets Y122.1trn (of which, individuals3) -Y81.5bn—Accounts with balance 5.35m—Inflows of cash and securities4 Y900.5bn Number of active clients5 ï® Efforts to expand client base kept number of active clients at same level as last year when stock sales were robust (thousands of accounts) 1,200 FY2020/21 1,019 1,000 FY2021/22 895 1,009 800 717 887 600 499 704 400 465 200 Jun Sep Dec Mar    1. Retail channels and Japan Wealth Management Group. 2.                Cash and securities inflows minus outflows, excluding regional financial institutions. 3.                Retail channels, Net & Call, Intermediation, Company employees, Hotto Direct. 4.                Retail channels only. 5.                Number of clients who transacted at least once since April 1 (accumulated).    7


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Investment Management Net revenue and income (loss) before income taxes1 (billions of yen) Full year Quarter FY20/21 FY2021/22 FY20/21 FY21/22 QoQ YoY 4Q 1Q 2Q 3Q 4Q Business revenue2 111.9 119.9 29.9 28.0 29.3 31.5 31.1 -1% 4% Investment gain/loss3 51.2 28.1 24.2 35.5 5.1 8.6 -21.1 — Net revenue 163.2 148.0 54.0 63.5 34.3 40.1 10.1 -75% -81% Non-interest expenses 72.1 76.5 18.8 18.6 19.3 19.8 18.9 -5% 0.4% Income (loss) before 91.0 71.5 35.2 44.9 15.0 20.4 -8.8 —income taxes Assets under management (net)4 (trillions of yen) Investment advisory and international businesses, etc. Investment trust business 65.8 67.8 68.5 67.9 64.7 17.8 18.1 19.1 19.6 19.3 46.9 47.6 48.7 48.8 48.6 FY2020/21 FY2021/22 Mar Jun Sep Dec Mar    Key points Full year    Net revenue: Y148bn (-9% YoY)    Income before income taxes: Y71.5bn (-21% YoY)    Higher business revenue on inflows across all four quarters and high level of AuM    Lower investment gain/loss due mainly to American Century Investments (ACI)-related gain/loss Quarter    Net revenue: Y10.1bn (-75% QoQ; -81% YoY) Loss before income taxes: Y8.8bn – Business revenue: Roughly unchanged QoQ with lower management fees due to a decline in AuM offset by stronger performance fees due to good performance – Investment gain/loss: Strongly impacted by ACI-related gain/loss (3Q: Y6.6bn vs. 4Q -Y18.8bn) Fourth quarter Despite ongoing inflows, AuM declined due to market factors    Investment trust business    Higher ETF purchases amid market adjustment (Mar AuM of Y27.2trn; AuM market share5 of 44%) Inflows into bank channel for four straight quarter with AuM growing to Y2.2trn Continued inflows into defined contribution funds (Mar AuM of Y1.8trn; AuM market share6 of 20.4%)    Investment advisory and international business, etc.    Inflows in Japan into foreign bonds by public pension fund International outflows from bonds and UCITS7 1. On April 1, 2021, Asset Management and Merchant Banking were dissolved and Investment Management newly established. As a result, historical figures have been reclassified in line with the disclosure format for FY2021/22    2. 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 3. Comprised of returns from investments (changes in fair valuation, funding costs, management fees, dividends, etc.) including ACI-related gain/loss, limited partner investment stakes and general partner investment stakes in private equity and other investment businesses, and Mebuki Financial Group investment gain/loss. 4. 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 5. Source: The Investment Trusts Association, Japan    6. Nomura, based on published data    7. Undertakings for Collective Investment in Transferable Securities (UCITS) compliant fund.    8


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Investment Management: Inflows drive solid growth in bank channel AuM Flow of funds1 (billions of yen) Investment advisory and international businesses, etc. 1,500 Investment trust business 1,039 1,000 474 772 500 128 359 183 109 0 393 346 267 250 372 -373 -189 -765 -500 -1,000 FY2020/21 FY2021/22 4Q 1Q 2Q 3Q 4Q Flow of funds in investment trusts1 (billions of yen) MRFs, etc. Investment trust business Other investment trusts ETFs 1,000 (excl. ETFs) (excl. ETFs) 500 344 383 268 296 265 125 2 0 -11 -28 -15 -500 FY2020/21 FY2021/22 4Q 1Q 2Q 3Q 4Q    Investment trust business: Growth in bank channel AuM (billions of yen)  Enhanced sales promotions and after sales follow up for banks and AuM grew by Y620bn over past year (Y540bn from inflows) other distributors  Inflows into balanced funds that 2,080 2,165 1,655 1,846 are not easily impacted by market 1,543 conditions and into ESG funds Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Steady growth in alternative AuM2 (billions of yen) 1,000 769 839 696 566 640 500 0 FY2020/21 FY2021/22 Mar Jun Sep Dec Mar    1. Based on assets under management (net). 2. 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 The scope of calculating alternative AuM was revised in October 2021 and figures before September 2021 have been restated retrospectively.    9


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Wholesale Net revenue, income (loss) before income taxes2 (billions of yen) Full year Quarter FY20/ FY20/ FY21/ FY2021/22 21 QoQ YoY 21 22 4Q 1Q 2Q 3Q 4Q Global Markets 575.5 556.4 -36.8 97.2 137.2 163.8 158.2 -3% -Investment Banking 115.8 146.6 36.1 35.5 35.4 38.9 36.7 -6% 2% Net revenue 691.4 703.1 -0.8 132.8 172.7 202.7 194.9 -4% -Non-interest expenses 627.1 628.6 165.2 161.1 147.7 161.9 157.9 -2% -4% Income (loss) before 64.3 74.5 -165.9 -28.4 25.0 40.8 37.0 -9% -income taxes CIR 91 89 —121% 86% 80% 81% Revenue/modified 1 6.4% 7.0%—4.9% 7.1% 8.2% 7.9% RWA Net revenue by region (billions of yen) 200.0 Americas 150.0 84.9 74.1 68.6 EMEA 18.0 100.0 37.2 37.8 29.2 37.0 22.6 AEJ 35.2 27.6 31.4 41.8 32.8 50.0 52.9 49.4 50.0 46.8 50.9 Japan 0.0 -50.0 -126.0 -100.0 -150.0 FY2020/21 FY2021/22 4Q 1Q 2Q 3Q 4Q Key points Full year Net revenue: Y703.1bn (+2% YoY) Income before income taxes: Y74.5bn (+16% YoY)    Global Markets net revenue declined 3% YoY as Rates and Equity Derivatives slowed from particularly strong performance in the previous year and we booked a smaller loss related to transactions with a US client2    reached Investment a record Banking high net 3 revenue grew 27% YoY as Advisory revenues    Fourth quarter Net revenue: Y194.9bn (-4% QoQ) Income before income taxes: Y37.0bn (-9% QoQ)    Global Markets reported a slowdown in spread-related products, while macro products and Equities booked stronger revenues    Investment Banking revenues remained elevated as Advisory revenues grew further from strong prior quarter, but postponement and delays to ECM deals had an impact Net revenue by region (QoQ; YoY) Americas: Y74.1bn (-13%)    Spread-related products and Equity Derivatives slowed from strong prior quarter    Investment Banking reported lower revenues in Advisory and ALF    Japan: Y50.9bn (+9%; -4%)    Equities revenues grew driven by Derivatives and Investment Banking revenues also increased EMEA: Y37.0bn (+27%; -0.4%)    Fixed Income revenues increased driven by Rates and FX/EM and Investment Banking saw Advisory revenue growth AEJ: Fixed Y32.8bn Income (-22%; booked -7%) stronger revenues in FX/EM, while Credit slowed    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 Y245.7bn (Y204.2bn trading loss, Y41.6bn loan-loss provision) in FY2020/21 4Q and Y65.4bn (Y56.1bn trading loss, Y9.3bn loan-loss provision) in FY2021/22 1Q. In addition, as the recoverable amount for part of the claim related to the loss 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) were booked in FY2021/22 3Q and FY2021/22 4Q, respectively. 3. Since FY2012/13.    10


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Wholesale: Global Markets Net revenue (billions of yen) Equities 163.8 158.2 Fixed Income 137.2 97.2 75.8 78.1 QoQ 66.5 9.1 -3% 84.3 88.1 70.7 88.0 80.1 YoY -36.8 121.1 FY2020/21 FY2021/22 4Q 1Q 2Q 3Q 4Q Key points Fourth quarter ® Net revenue: Y158.2bn (-3% QoQ) ­ Resilient performance driven by diversification across regions and products amid market dislocations from higher inflation, shifts in monetary policy, and geopolitical risks Fixed Income ® Net revenue: Y80.1bn (-9% QoQ; -5% YoY) ­ Widening spreads and slowdown in client activity led to a challenging quarter for Credit, and a slowdown in Securitized Products­ Macro products including Rates and FX/EM, reported stronger revenues driven by uptick in client activity amid higher volatility Equities® Net revenue: Y78.1bn (+3% QoQ) ­ Derivatives revenues grew QoQ in Japan and AEJ, but slowed in Americas; Cash Equities reported stronger revenues driven by Americas and EMEA FY2021/22 full year and 4Q net revenue by region Full year Quarter (billions of yen) YoY QoQ -3% 575.5 Global Markets 556.4 Global Fixed Markets Income Equities Americas EMEA AEJ Japan FY 20/21 FY 21/22 0% ~ ±5% ±5% ~ ±15% ±15% ~ Full year ® Fixed Income slowed from last year’s strong performance primarily in macro products® Equities revenues increased as losses related to a US client incident1 subsided Fourth quarter ® Americas: In Fixed Income, Rates revenues increased while Securitized Products slowed; Equities reported stronger revenues in Cash but Derivatives revenues declined ® EMEA: Rates and Cash Equities reported stronger revenues ® AEJ: Fixed Income delivered growth in FX/EM, while Credit revenues slowed significantly; Equities reported stronger revenues in Derivatives and solid performance in Cash® Japan: Fixed Income saw stronger client activity in JGBs, lifting Rates revenues while Credit slowed; Equities reported higher revenues in Derivatives 1. Booked trading loss of Y204.2bn in FY2020/21 4Q and Y56.1bn in FY2021/22 1Q. In addition, as the recoverable amount for part of the claim related to the loss can now be reasonably estimated, gains of Y2.6bn and Y9.5bn were booked as trading gain/loss in FY2021/22 3Q and FY2021/22 4Q, respectively.


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Wholesale: Investment Banking    Net revenue (billions of yen) 38.9 36.7 36.1 35.5 35.4 QoQ -6% YoY +2% FY2020/21 FY2021/22 4Q 1Q 2Q 3Q 4Q Key points Full year ï® Net revenue: Y146.6bn (+27% YoY)—Record revenues since comparisons possible starting FY2016/17—Supported multiple transactions in Advisory business in Americas and EMEA to deliver record revenues1; In addition to business restructuring and cross-border deals, sustainability mandates increased at Nomura Greentech Fourth quarter ï® Net revenue: Y36.7bn (-6% QoQ; +2% YoY)—ECM and ALF slowed due to deteriorating market conditions, but Advisory business reported record revenues outstripping the strong previous quarter Japan—Advisory and Solutions business reported stronger revenues QoQ International—Revenues slowed from strong prior quarter, but Sustainability deals contributed and EMEA and AEJ Advisory revenues grew QoQ    Americas build up driving international business growth centered on Advisory business Global revenues Advisory revenues (billions of yen) 146.6 115.8 2.1x 85.7 1.4x Japa n 2.0x Int’l FY2019/20 FY2020/21 FY2021/22 FY2019/20 FY2020/21 FY2021/22 Significant transactions FY2021/22 4Q Sustainability-relatedï® in Mitsui & Co.’s acquisition of Ardian’s (France) acquisition of Urban Grid Solar’s (US) sale to 27.5% stake in Mainstream a majority stake in Biofarma Brookfield Renewable (US) Renewable Power Limited (Italy) ($650m) (Ireland) (€1.1bn) (€575m) Kirin Holdings’s sale of China Nippon Paint Holdings Banco de Sabadell (Spain) Resources (China) to Plateau International PO Green Bond Consumer Fund (China) (Y145.5bn) (€750m) (CNY6.3bn) Hellman & Friedman’s (US) CPP Investment’s (Luxembourg) Development Bank of Japan acquisition financing of acquisition financing of Sustainability Bond Athenahealth (US) CeramTec (Germany) ($700m) ($10.4bn) (€1.7bn) 12    


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Non-interest expenses Full year Quarter (billions of yen) (billions of yen) 1,500 400 336.1 Other 1,171.2 300.4 1,137.3 291.3 300 274.7 270.9 Business development 1,000 expenses Occupancy and related 200 depreciation Information processing and communications 500 Commissions and floor 100 brokerage Compensation and benefits 0 0 FY2020/21 FY2021/22 FY2020/21 FY2021/22 QoQ 4Q 1Q 2Q 3Q 4Q Compensation and benefits 507.9 529.5 95.8 135.6 129.2 139.0 125.6 -9.6% Commissions and floor brokerage 111.6 105.2 29.0 26.8 27.4 24.1 26.9 11.3% Information processing and communications 178.8 184.3 49.5 44.1 45.1 46.6 48.5 4.1% Occupancy and related depreciation 72.4 69.7 18.1 16.7 17.8 17.5 17.7 0.9% Business development expenses 13.5 15.6 3.7 3.3 3.9 4.4 4.0 -8.1% Other 287.0 232.9 140.0 48.2 76.9 39.2 68.6 74.9% Total 1,171.2 1,137.3 336.1 274.7 300.4 270.9 291.3 7.5%    Key points Full year ï® Non-interest expenses: Y1,137.3bn (-3% YoY) – Compensation and benefits (+4% YoY) Compensation and benefits increased on yen deprecation and international hiring and base salary adjustments – Other expenses (-19% YoY) Loan loss provisions related to transactions with a US client declined1, while impairment charge2 on equity stake in affiliate booked last year no longer present Legal expenses related to legacy transactions increased3 Fourth quarter ï® Non-interest expenses: Y291.3bn (+8% QoQ) – Compensation and benefits (-10% QoQ) Bonus provisions declined in line with pay for performance – Other expenses (+75% QoQ)  Booked additional expenses (Y23bn) related to legacy transactions in the Americas from before the global financial crisis (2007 – 2008)    1. Booked loan-loss provisions arising from transactions with a US client of Y41.6bn in FY2020/21 4Q and Y9.3bn in FY2021/22 1Q. In addition, as the recoverable amount for part of the claim related to the loss can now be reasonably estimated, gains of Y500m and Y2bn were booked as loan-loss provision reversal in FY2021/22 3Q and FY2021/22 4Q, respectively. 2. Booked impairment charge on equity stake in affiliate company, Nomura Real Estate Holdings, of Y47.7bn in FY2020/21 4Q. 13 3. Booked legal expenses of Y41.1bn in FY2020/21 and approx. Y63bn (preliminary) in FY2021/22.


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Robust financial position    Balance sheet related indicators and capital ratios Mar 2021 Dec 2021 Mar 2022 ï® Total assets Y42.5trn Y45.2trn Y43.4trnï® Shareholders’ equity Y2.7trn Y2.8trn Y2.9trnï® Gross leverage 15.8x 16.1x 14.9x Net leverage1 9.8x 9.7x 9.1xï® Level 3 assets2 Y0.6trn Y0.8trn Y0.8trn (net)ï® Liquidity portfolio Y5.7trn Y7.1trn Y7.1trn (billions of yen) Mar Dec Mar Basel 3 basis 2021 2021 20222 Tier 1 capital 2,841 3,045 3,104 Tier 2 capital 5 4 0.4 Total capital 2,845 3,049 3,105 RWA 15,951 14,770 15,869 Tier 1 capital ratio 17.8% 20.6% 19.5% CET 1 capital ratio3 15.8% 18.0% 17.1% Consolidated capital 17.8% 20.6% 19.5% adequacy ratio Consolidated leverage ratio4 5.63% 5.73% 5.98% HQLA5 Y5.4trn Y6.2trn Y6.0trn LCR5 192.4% 277.7% 241.7% TLAC ratio (RWA basis) 23.0% 29.9% 30.6% TLAC ratio (Total exposure basis) 8.24% 9.16% 10.29%    RWA and CET 1 capital ratio3 (trillions of yen) RWA (Basel 3) (lhs) CET1 capital ratio (Basel 3) (rhs) 20.0 17.7% 17.7% 18.1% 20.0% 17.1% 15.8% 15.0 15.0% 10.0 10.0% 5.0 5.0% 0.0 FY2020/21 FY2021/22 0.0% Mar Jun Sep Dec Mar Level 3 assets2 and Net Level 3 assets/Tier 1 capital (billions of yen) Level 3 Assets Net Level 3 Assets 1,000 Net Level 3 Assets / Tier 1 Capital (rhs) 26% 26% 30% 800 21% 22% 20% 600 20% 400 200 10% 0 0% FY2020/21 FY2021/22 Mar Jun Sep Dec Mar    1. Net leverage: Total assets minus securities purchased under agreements to resell and securities borrowed, divided by Nomura Holdings shareholders’ equity.    2.    March 2022 is preliminary. 3.                CET 1 capital ratio is defined as Tier 1 capital minus Additional Tier 1 capital divided by risk-weighted assets. 4.                Tier 1 capital divided by exposure (sum of on-balance sheet exposures and off-balance sheet items). 5.                Daily average for each quarter.    14


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Funding and liquidity Balance sheet Balance sheet structure (As of March 2022) ï® Highly liquid, healthy balance sheet Assets Liabilities and equity Unsecured funding2 structure    – 74% of assets are highly liquid ï® 77% of unsecured funding is long-term trading and related assets that are debt marked-to-market and matched to ï® Diversified sources of funding trading and related liabilities through repos etc. (regionally and Short-term debt Trading liabilities by currency) 20% and related1 – Other assets are funded by equity Trading assets Long-term debt due and long-term debt, ensuring and related1 within 1yr, 3% structural stability International Bank 37% Loans lending market Long-term Liquidity portfolio2 Other liabilities debt, 77% Euro MTN/Yen, Short-term borrowings Average Retail retail bonds, etc. maturity market Japan ï® Liquidity portfolio: Cash and cash deposits Long-term 3 borrowings 7.2 years 63% Euro – Y7.1trn, or 16% of total assets – Maintain a high quality liquidity Other assets Total equity MTN/Other, Wholesale wholesale market portfolio surplus without the need bonds, etc. for additional unsecured funding Breakdown of Long-term Funding of over a certain period short-term/long- debt by long-term term debt region debt 1. Trading assets and related: Reverse repo, securities, derivatives, etc. Trading liabilities and related: Repo, securities loaned, derivatives, etc. 2. Definition differs from financial disclosures reflecting Liquidity Management’s view. Cash and cash deposits portion of liquidity portfolio excludes funds on deposit at exchanges and segregated client funds. 15 3. Excludes long-term debt due within one year. Redemption schedule is individually estimated by considering the probability of redemption under certain stressed scenarios.    


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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 2021 2022 (Decrease) 2021 2022 (Decrease) Assets Liabilities Total cash and cash deposits 4,165 4,064 -101 Short-term borrowings 1,368 1,050 -318 Total payables and deposits 4,571 4,920 349 Total loans and receivables 4,142 5,001 858 Total collateralized financing 15,134 14,538 -595 Trading liabilities 9,473 9,652 179 Total collateralized agreements 16,039 16,876 837 Other liabilities 1,239 1,020 -219 Long-term borrowings 7,975 9,258 1,283 Total trading assets and 1 15,738 15,296 -442 Total liabilities 39,760 40,439 679 private equity investments Total other assets1 2,432 2,175 -256 Equity Total NHI shareholders’ equity 2,695 2,915 220 Noncontrolling interest 62 58 -3 Total assets 42,516 43,412 896 Total liabilities and equity 42,516 43,412 896 17 1. Including securities pledged as collateral.


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Value at risk1    Definition From April 1, 2021, to March 31, 2022 (billions of yen) 95% confidence level Maximum: 23.2 1-day time horizon for outstanding portfolio Minimum: 2.7 Inter-product price fluctuations considered Average: 4.5 (billions of yen) FY2020/21 FY2021/22 FY2020/21 FY2021/22 Mar Mar Mar Jun Sep Dec Mar Equity 22.8 1.4 22.8 2.4 2.8 2.1 1.4 Interest rate 3.3 2.3 3.3 2.2 2.1 2.3 2.3 Foreign exchange 3.6 0.9 3.6 1.2 0.8 1.6 0.9 Sub-total 29.7 4.6 29.7 5.9 5.6 6.0 4.6 Diversification benefit -6.2 -1.9 -6.2 -1.9 -1.8 -1.9 -1.9 VaR 23.5 2.7 23.5 4.0 3.8 4.1 2.7 (Reference) FY2020/21 FY2021/22 FY2020/21 FY2021/22 99% confidence level Mar Mar Mar Jun Sep Dec Mar VaR 93.4 4.8 93.4 5.8 5.3 6.0 4.8 1. From this disclosure, VaR confidence level changed from 99% to 95%. 18


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Consolidated financial    highlights Full year 200 10% 153.1 143.0 Net income (loss) 5.7% 5.1% attributable to 100 5% Nomura Holdings, Inc. (“NHI”) shareholders 0 0% ROE (%) -100 -200 FY2020/21 FY2021/22 Net revenue 1,401.9 1,363.9 Income (loss) before income taxes 230.7 226.6 Net income (loss) attributable to Nomura 153.1 143.0 Holdings, Inc. (“NHI”) shareholders Total NHI shareholders’ equity 2,694.9 2,914.6 ROE (%)1 5.7% 5.1% Basic-Net income (loss) attributable to NHI 50.11 46.68 shareholders per share (yen) Diluted-Net income (loss) attributable to NHI 48.63 45.23 shareholders per share (yen) Total NHI shareholders’ equity per share (yen) 879.79 965.80 1. Quarterly ROE is calculated using annualized year-to-date net income.    Quarter (billions of yen) 200 10% 7.1% 5.7% 5.4% 5.1% 100 3.8% 5% 60.3 48.5 3.2 31.0 0 0% -100 -155.4 -200 FY2020/21 FY2021/22 4Q 1Q 2Q 3Q 4Q 170.0 353.3 318.9 351.0 340.8 -166.1 78.5 18.5 80.1 49.5 -155.4 48.5 3.2 60.3 31.0 2,694.9 2,739.2 2,734.1 2,807.9 2,914.6 5.7% 7.1% 3.8% 5.4% 5.1% -50.77 16.12 1.04 19.66 10.26 -50.78 15.59 1.01 19.07 9.89 879.79 885.42 883.46 931.06 965.80 19    


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Consolidated income Full year Quarter (billions of yen) FY2020/21 FY2021/22 FY2020/21 FY2021/22 4Q 1Q 2Q 3Q 4Q Revenue Commissions 376.9 332.3 102.4 82.9 91.6 82.6 75.2 Fees from investment banking 108.7 149.6 34.7 35.7 33.9 46.0 34.0 Asset management and portfolio service fees 230.0 270.0 60.3 64.0 67.2 69.9 68.9 Net gain on trading 310.0 368.8 -96.9 52.0 91.1 106.8 118.9 Gain (loss) on private equity and debt investments 12.7 30.8 8.5 26.0 0.5 4.6 -0.3 Interest and dividends 356.5 284.2 77.8 64.5 69.9 82.6 67.1 Gain (loss) on investments in equity securities 14.1 5.4 5.1 3.5 2.1 -2.6 2.5 Other 208.3 152.8 36.0 76.6 22.9 13.8 39.6 Total revenue 1,617.2 1,594.0 228.0 405.2 379.2 403.8 405.9 Interest expense 215.4 230.1 57.9 51.9 60.3 52.8 65.1 Net revenue 1,401.9 1,363.9 170.0 353.3 318.9 351.0 340.8 Non-interest expenses 1,171.2 1,137.3 336.1 274.7 300.4 270.9 291.3 Income (loss) before income taxes 230.7 226.6 -166.1 78.5 18.5 80.1 49.5 Net income (loss) attributable to NHI shareholders 153.1 143.0 -155.4 48.5 3.2 60.3 31.0 20    


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Main revenue items Full year Quarter (billions of yen) FY2020/21 FY2021/22 FY2020/21 FY2021/22 4Q 1Q 2Q 3Q 4Q Stock brokerage commissions 262.3 236.4 72.8 58.2 67.7 57.3 53.1 Commissions Other brokerage commissions 14.3 18.0 3.6 3.7 4.0 4.8 5.5 Commissions for distribution of investment trusts 68.8 43.7 17.4 14.4 11.2 11.6 6.5 Other 31.6 34.3 8.6 6.6 8.8 8.9 10.1 Total 376.9 332.3 102.4 82.9 91.6 82.6 75.2 Equity underwriting and distribution 30.6 33.1 8.2 10.0 10.3 9.8 3.1 Fees from Bond underwriting and distribution 23.1 29.8 7.7 7.3 6.1 10.0 6.3 investment banking M&A / Financial advisory fees 37.8 64.2 12.6 13.1 13.7 17.5 20.0 Other 17.2 22.4 6.2 5.3 3.8 8.7 4.6 Total 108.7 149.6 34.7 35.7 33.9 46.0 34.0 Asset management fees 150.2 171.1 40.2 40.6 42.0 44.0 44.4 Asset management Administration fees 63.2 79.6 15.8 18.9 20.4 20.8 19.5 and portfolio service fees Custodial fees 16.6 19.4 4.4 4.6 4.8 5.0 4.9 Total 230.0 270.0 60.3 64.0 67.2 69.9 68.9 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 taxes1 Full year Quarter (billions of yen) FY2020/21 FY2021/22 FY2020/21 FY2021/22 4Q 1Q 2Q 3Q 4Q    Retail 92.3 59.2 26.1 19.0 17.0 18.0 5.2    Investment Management 91.0 71.5 35.2 44.9 15.0 20.4 -8.8    Wholesale 64.3 74.5 -165.9 -28.4 25.0 40.8 37.0 Three business segments total 247.6 205.2 -104.5 35.6 57.0 79.2 33.5 Other -28.5 15.8 -66.2 39.6 -40.4 1.7 14.9 Segments total 219.1 221.0 -170.7 75.2 16.6 80.9 48.4 Unrealized gain (loss) on investments in equity 11.5 5.6 4.6 3.4 1.9 -0.8 1.2 securities held for operating purposes Income (loss) before income taxes 230.7 226.6 -166.1 78.5 18.5 80.1 49.5 Geographic information: Income (loss) before income taxes2 Full year Quarter (billions of yen) FY2020/21 FY2021/22 FY2020/21 FY2021/22 4Q 1Q 2Q 3Q 4Q Americas -77.0 -41.0 -203.7 -36.6 -17.2 32.2 -19.4 Europe 14.3 -21.8 9.8 -5.3 -8.9 -3.4 -4.2 Asia and Oceania 49.2 28.6 13.2 6.6 7.1 11.0 3.9 Subtotal -13.5 -34.1 -180.6 -35.3 -19.0 39.8 -19.7 Japan 244.1 260.8 14.5 113.8 37.5 40.3 69.2 Income (loss) before income 230.7 226.6 -166.1 78.5 18.5 80.1 49.5 1. On April 1, 2021, Asset Management and Merchant Banking were dissolved and Investment Management newly established. As a result, historical figures have been reclassified in line with the disclosure format for FY2021/22. 22 2. Geographic information is based on U.S. GAAP. (Figures are preliminary for the three months ended March 31, 2022). Nomura’s revenues and expenses are allocated based on the country of domicile of the legal entity providing the service. This information is not used for business management purposes.


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Segment “Other” Income (loss) before income taxes1 Full year Quarter (billions of yen) 80 39.6 40 15.8 14.9    1.7 0 -40 -28.5 -40.4     -66.2 -80 FY2020/21 FY2021/22 FY2020/21 FY2021/22 4Q 1Q 2Q 3Q 4Q Net gain (loss) related to economic -11.5 -9.9 -13.5 3.4 -3.8 -1.1 -8.4 hedging transactions Realized gain (loss) on investments in equity 1.7 1.4 0.2 0.2 0.0 0.0 1.1 securities held for operating purposes Equity in earnings of affiliates -16.4 36.8 -38.7 9.6 5.6 5.4 16.2 Corporate items 5.0 -91.1 -9.1 -9.3 -45.6 -1.8 -34.4 Others -7.3 78.6 -5.2 35.6 3.4 -0.8 40.4 Income (loss) before income taxes -28.5 15.8 -66.2 39.6 -40.4 1.7 14.9 1. On April 1, 2021, Asset Management and Merchant Banking were dissolved and Investment Management newly established. As a result, historical figures have been reclassified in line with the disclosure format for 23 FY2021/22.


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Retail related data (1) Full year Quarter (billions of yen) FY2020/21 FY2021/22 FY2020/21 FY2021/22 4Q 1Q 2Q 3Q 4Q QoQ YoY Commissions 187.7 138.5 51.0 38.6 35.6 36.5 27.8 -23.8% -45.4% Of which, stock brokerage commission 92.6 67.4 25.9 17.8 17.6 17.6 14.4 -18.0% -44.2% Of which, commissions for distribution of investment trusts 68.4 43.5 16.0 14.4 11.1 11.6 6.5 -44.2% -59.5% Sales credit 58.4 44.0 14.1 11.6 11.9 11.4 9.1 -20.3% -35.6% Fees from investment banking and other 20.4 19.0 5.0 4.6 5.6 6.1 2.8 -54.6% -44.4% Investment trust administration fees and other 89.0 109.3 24.0 26.2 28.0 28.7 26.4 -8.1% 10.1% Net interest revenue 13.4 17.2 2.7 4.0 4.2 4.6 4.4 -5.2% 60.9% Net revenue 368.8 328.0 96.8 85.0 85.2 87.4 70.5 -19.3% -27.2% Non-interest expenses 276.5 268.7 70.7 66.0 68.2 69.3 65.3 -5.9% -7.6% Income before income taxes 92.3 59.2 26.1 19.0 17.0 18.0 5.2 -71.2% -80.1% Domestic distribution volume of investment trusts1 2,965.5 2,197.0 767.0 634.5 532.1 604.6 425.7 -29.6% -44.5% Stock investment trusts 2,647.3 1,931.5 698.2 588.1 477.9 530.4 335.1 -36.8% -52.0% Foreign investment trusts 318.2 265.5 68.7 46.4 54.2 74.2 90.7 22.2% 31.9% Other    Accumulated value of annuity insurance policies 3,610.2 3,818.9 3,610.2 3,661.3 3,723.3 3,787.3 3,818.9 0.8% 5.8% Sales of JGBs for individual investors (transaction base) 486.6 618.6 169.2 159.7 101.1 180.0 177.8 -1.3% 5.0% Retail foreign currency bond sales 728.3 751.8 236.0 170.2 167.9 204.3 209.5 2.6% -11.2% 24 1. Including former Net & Call.


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Retail related data (2) Retail client assets (trillions of yen) 140 126.6 127.0 128.7 125.0 Other 126.6 122.1 122.1 Foreign investment 120 trusts 100 Bond investment trusts 80 Stock investment trusts 60 Domestic bonds 40 Foreign currency 20 bonds Equities 0 FY2020/21 FY2021/22 FY2020/21 FY2021/22 Mar Mar Mar Jun Sep Dec Mar Equities 82.3 77.5 82.3 82.6 84.1 79.7 77.5 Foreign currency bonds 5.4 5.1 5.4 5.3 5.3 5.2 5.1 Domestic bonds1 12.7 12.6 12.7 12.6 12.6 12.6 12.6 Stock investment trusts 10.2 10.8 10.2 10.9 10.9 11.3 10.8 Bond investment trusts 8.0 7.5 8.0 7.8 7.8 7.8 7.5 Foreign investment trusts 1.1 1.3 1.1 1.1 1.2 1.2 1.3 Other2 6.9 7.3 6.9 6.7 6.9 7.2 7.3 Total 126.6 122.1 126.6 127.0 128.7 125.0 122.1 25 1. Including CBs and warrants. 2.                Including annuity insurance.    


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Retail related data (3) Net inflows of cash and securities1 Full year Quarter (billions of yen) (billions of yen) 1,200 1,200 888 800 800 641 471 351 315 400 400 0 0 -146 -400 -400 -613 -800 -800 FY2020/21 FY2021/22 FY2020/21 FY2021/22 4Q 1Q 2Q 3Q 4Q 1. Cash and securities inflows minus outflows, excluding regional financial institutions. 26    


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Retail related data (4) Number of accounts (thousands) FY2020/21 FY2021/22 FY2020/21 FY2021/22 Mar Mar Mar Jun Sep Dec Mar Accounts with balance 5,329 5,348 5,329 5,348 5,342 5,362 5,348 Equity holding accounts 2,927 2,955 2,927 2,924 2,923 2,949 2,955 NISA accounts opened (accumulated)1 1,791 1,589 1,791 1,820 1,828 1,839 1,589 Online service accounts 4,895 5,067 4,895 4,966 5,004 5,036 5,067 New Individual accounts / IT share2 Full year Quarter (thousands) FY2020/21 FY2021/22 FY2020/21 FY2021/22 4Q 1Q 2Q 3Q 4Q New individual accounts 203 201 62 51 50 51 49 IT share2 No. of orders 80% 83% 81% 82% 84% 83% 85% Transaction value 53% 59% 54% 58% 59% 58% 60% 1. Including Junior NISA. 27 2. Ratio of cash stocks traded via online service.    


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Investment Management related data (1) Full year1 Quarter1 FY2020/21 FY2021/22 (billions of yen) FY2020/21 FY2021/22 QoQ YoY 4Q 1Q 2Q 3Q 4Q    Business revenue 111.9 119.9 29.9 28.0 29.3 31.5 31.1 -1.1% 4.3%    Investment gain/loss 51.2 28.1 24.2 35.5 5.1 8.6 -21.1—-Net revenue 163.2 148.0 54.0 63.5 34.3 40.1 10.1 -74.9% -81.4% Non-interest expenses 72.1 76.5 18.8 18.6 19.3 19.8 18.9 -4.6% 0.4% Income (loss) before income taxes 91.0 71.5 35.2 44.9 15.0 20.4 -8.8 — Assets under management by company (trillions of yen) FY2020/21 FY2021/22 FY2020/21 FY2021/22 Mar Mar Mar Jun Sep Dec Mar Nomura Asset Management 66.2 69.6 66.2 67.3 69.3 70.1 69.6 Nomura Corporate Research and Asset 3.3 3.9 3.3 3.5 3.8 3.9 3.9 Management, etc. Assets under management (gross)2 69.5 73.5 69.5 70.8 73.1 74.0 73.5    Group company overlap 4.8 5.5 4.8 5.0 5.4 5.5 5.5 Assets under management (net)3 64.7 67.9 64.7 65.8 67.8 68.5 67.9 1. On April 1, 2021, Asset Management and Merchant Banking were dissolved and Investment Management newly established. As a result, historical figures have been reclassified in line with the disclosure format for FY2021/22. 2. 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 3. Net after deducting duplications from assets under management (gross).


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Investment Management related data (2) Asset inflows/outflows by business1 Full year Quarter FY2020/21 FY2021/22 (billions of yen) FY2020/21 FY2021/22 4Q 1Q 2Q 3Q 4Q Investment trusts business 2,753 1,236 393 346 267 250 372    of which ETFs 2,241 683 268 344 -28 -15 383 Investment advisory and -883 819 -765 128 772 109 -189 international businesses Total net asset inflow 1,870 2,055 -373 474 1,039 359 183 Domestic public investment trust market and Nomura Asset Management market share2 FY2020/21 FY2021/22 FY2020/21 FY2021/22 (trillions of yen) Mar Mar Mar Jun Sep Dec Mar Domestic public investment trusts Market 151.0 163.1 151.0 156.7 160.4 164.5 163.1 Nomura Asset Management share (%) 28% 27% 28% 27% 27% 27% 27% Domestic public stock investment trusts Market 136.2 148.9 136.2 142.2 145.9 150.0 148.9 Nomura Asset Management share (%) 26% 25% 26% 26% 26% 25% 25% Domestic public bond investment trusts Market 14.8 14.2 14.8 14.5 14.6 14.5 14.2 Nomura Asset Management share (%) 44% 44% 44% 44% 44% 44% 44% ETF Market 60.6 61.8 60.6 61.2 63.4 62.4 61.8 Nomura Asset Management share (%) 44% 44% 44% 44% 44% 44% 44% 1. Based on assets under management (net).                29 2. Source Investment Trusts Association, Japan.                


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Wholesale related data Full year Quarter (billions of yen) FY2020/21 FY2021/22 FY2020/21 FY2021/22 QoQ YoY 4Q 1Q 2Q 3Q 4Q Net revenue 691.4 703.1 -0.8 132.8 172.7 202.7 194.9 -3.9% -Non-interest expenses 627.1 628.6 165.2 161.1 147.7 161.9 157.9 -2.5% -4.4% Income (loss) before income taxes 64.3 74.5 -165.9 -28.4 25.0 40.8 37.0 -9.3%—Breakdown of Wholesale revenues Full year Quarter (billions of yen) FY2020/21 FY2021/22 FY2020/21 FY2021/22 QoQ YoY 4Q 1Q 2Q 3Q 4Q Fixed Income 441.9 326.9 84.3 88.1 70.7 88.0 80.1 -9.0% -5.0% Equities 133.6 229.5 -121.1 9.1 66.5 75.8 78.1 3.0% -Global Markets 575.5 556.4 -36.8 97.2 137.2 163.8 158.2 -3.5% -Investment Banking 115.8 146.6 36.1 35.5 35.4 38.9 36.7 -5.7% 1.7% Net revenue 691.4 703.1 -0.8 132.8 172.7 202.7 194.9 -3.9%—30    


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Number of employees FY2020/21 FY2021/22 FY2020/21 FY2021/22 Mar Mar Mar Jun Sep Dec Mar Japan 15,330 15,213 15,330 15,556 15,393 15,299 15,213 Europe 2,769 2,820 2,769 2,779 2,811 2,817 2,820 Americas 2,152 2,257 2,152 2,116 2,171 2,181 2,257 Asia and Oceania1 6,151 6,295 6,151 6,196 6,216 6,259 6,295 Total 26,402 26,585 26,402 26,647 26,591 26,556 26,585 31 1. Includes Powai office in India.    


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Disclaimer    This document is produced by Nomura Holdings, Inc. (“Nomura”).    Nothing in this document shall be considered as an offer to sell or solicitation of an offer to buy any security, commodity or other instrument, including securities issued by Nomura or any affiliate thereof. Offers to sell, sales, solicitations to buy, or purchases of any securities issued by Nomura or any affiliate thereof may only be made or entered into pursuant to appropriate offering materials or a prospectus prepared and distributed according to the laws, regulations, rules and market practices of the jurisdictions in which such offers or sales may be made.    The information and opinions contained in this document have been obtained from sources believed to be reliable, but no representations or warranty, express or implied, are made that such information is accurate or complete and no responsibility or liability can be accepted by Nomura for errors or omissions or for any losses arising from the use of this information.    All rights regarding this document are reserved by Nomura unless otherwise indicated. No part of this document shall be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of Nomura.    This document contains statements that may constitute, and from time to time our management may make “forward-looking statements” within the meaning of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. Any such statements must be read in the context of the offering materials pursuant to which any securities may be offered or sold in the United States. These forward-looking statements are not historical facts but instead represent only our belief regarding future events, many of which, by their nature, are inherently uncertain and outside our control. Actual results and financial condition may differ, possibly materially, from what is indicated in those forward-looking statements. You should not place undue reliance on any forward-looking statement and should consider all of the following uncertainties and risk factors, as well as those more fully discussed under Nomura’s most recent Annual Report on Form 20-F and other reports filed with the U.S. Securities and Exchange Commission (“SEC”) that are available on Nomura’s website (https://www.nomura.com) and on the SEC‘s website (https://www.sec.gov); Important risk factors that could cause actual results to differ from those in specific forward-looking statements include, without limitation, economic and market conditions, political events and investor sentiments, liquidity of secondary markets, level and volatility of interest rates, currency exchange rates, security valuations, competitive conditions and size, and the number and timing of transactions.    Forward-looking statements speak only as of the date they are made, and Nomura undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made.    The consolidated financial information in this document is unaudited.


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