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 August 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):             

Information furnished on this form:

EXHIBIT

Exhibit Number
1.	Financial Summary – Three months ended June 30, 2022.

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: August 3, 2022	By:	/s/ Yoshifumi Kishida
		Yoshifumi Kishida
		Senior Managing Director

Financial Summary For the Three Months Ended June 30, 2022 (U.S. GAAP)

Date:	August 3, 2022
Company name (code number):	Nomura Holdings, Inc. (8604)
Stock exchange listings:	(In Japan) Tokyo, Nagoya (Overseas) New York, Singapore
Representative:	Kentaro Okuda President and Group CEO, Nomura Holdings, Inc.
For inquiries:	Junko Tago Managing Director, Head of Investor Relations, Nomura Holdings, Inc. Tel: (Country Code 81) 3-5255-1000 URL: https://www.nomura.com

1. Consolidated Operating Results

(1) Operating Results

	(Rounded to nearest million)
	For the three months ended June 30
	2021						2022
	(Millions of yen, except per share data)
				% Change from June 30, 2020						% Change from June 30, 2021
Total revenue		405,172			(21.2	%)		409,968			1.2	%
Net revenue		353,275			(23.3	%)		299,028			(15.4	%)
Income before income taxes		78,533			(56.8	%)		11,733			(85.1	%)
Net income attributable to Nomura Holdings, Inc. (“NHI”) shareholders		48,487			(66.0	%)		1,696			(96.5	%)
Comprehensive income		51,220			(64.7	%)		169,507			230.9	%
Basic-Net income attributable to NHI shareholders per share (Yen)		16.12						0.56
Diluted-Net income attributable to NHI shareholders per share (Yen)		15.59						0.52
Return on shareholders’ equity - annualized		7.1	%					0.2	%

Note: Return on shareholders’ equity is a ratio of Net income attributable to NHI shareholders to Total NHI shareholders’ equity.

(2) Financial Position

	At March 31			At June 30
	2022			2022
	(Millions of yen, except per share data)
Total assets		43,412,156			48,903,281
Total equity		2,972,803			3,115,125
Total NHI shareholders’ equity		2,914,605			3,055,483
Total NHI shareholders’ equity as a percentage of total assets		6.7	%		6.2	%
Total NHI shareholders’ equity per share (Yen)		965.80			1,017.18

2. Cash Dividends

	For the year ended March 31
	2022		2023		2023 (Plan)
	(Yen amounts)
Dividends per share
Dividends record dates
At June 30		—		—		—
At September 30		8.00		—		Unconfirmed
At December 31		—		—		—
At March 31		14.00		—		Unconfirmed
For the year		22.00		—		Unconfirmed

Note: Fiscal year 2023 Q2 and Q4 dividends are not presented per reasons stated in “3. Earnings forecasts for the year ending March 31, 2023”.

3. Earnings Forecasts for the year ending March 31, 2023

Nomura provides investment, financing and related services in the capital markets on a global basis. In the global capital markets there exist uncertainties due to, but not limited to, economic and market conditions. Nomura, therefore, does not present earnings forecasts.

Notes

(1) Changes in significant subsidiaries during the period: None

      (Changes in Specified Subsidiaries accompanying changes in scope of consolidation.)

(2) Adoption of the simplified and particular accounting treatments: None

(3) Changes in accounting policies

     a)     Changes in accounting policies due to amendments to the accounting standards : None

     b)     Changes in accounting policies due to other than a) : None

(4) Number of shares issued (common stock)

	At March 31		At June 30
	2022		2022
Number of shares outstanding (including treasury stock)		3,233,562,601		3,233,562,601
Number of treasury stock		215,758,589		229,699,910
	For the three months ended June 30
	2021		2022
Average number of shares outstanding (year-to-date)		3,007,328,504		3,017,845,872

*This financial summary is not subject to certified public accountant’s or audit firm’s quarterly review.

Table of Contents for the Accompanying Materials

1.      Qualitative Information of the Quarterly Consolidated Results	P. 2
(1)     Consolidated Operating Results	P. 2
(2)     Consolidated Financial Position	P. 4
(3)     Consolidated Earnings Forecasts	P. 4
(4)    Risks related to the COVID-19 pandemic	P. 4
2.      Quarterly Consolidated Financial Statements	P. 5
(1)     Consolidated Balance Sheets	P. 6
(2)     Consolidated Statements of Income	P. 8
(3)     Consolidated Statements of Comprehensive Income	P. 9
(4)     Note with respect to the Assumption as a Going Concern	P. 9
(5)     Segment Information – Operating Segment	P.10
(6)     Significant Changes in Equity	P.11
3.     Supplementary Information	P.12
(1)     Consolidated Statements of Income – Quarterly Comparatives	P.12
(2)     Business Segment Information – Quarterly Comparatives	P.13
(3)     Other	P.14

– 1 –

1. Qualitative Information of the Quarterly Consolidated Results

(1) Consolidated Operating Results

    U.S. GAAP

	Billions of yen						% Change
	For the three months ended						(B-A)/(A)
	June 30, 2021 (A)			June 30, 2022 (B)
Net revenue		353.3			299.0			(15.4	)
Non-interest expenses		274.7			287.3			4.6
Income (loss) before income taxes		78.5			11.7			(85.1	)
Income tax expense		28.5			11.3			(60.3	)
Net income (loss)		50.0			0.4			(99.2	)
Less: Net income (loss) attributable to noncontrolling interests		1.5			(1.3	)		—
Net income (loss) attributable to NHI shareholders		48.5			1.7			(96.5	)
Return on shareholders’ equity - annualized		7.1	%		0.2	%		—

Note: Return on shareholders’ equity is a ratio of Net income (loss) attributable to NHI shareholders to Total NHI shareholders’ equity.

Nomura Holdings, Inc. and its consolidated entities (collectively, “Nomura”) reported net revenue of 299.0 billion yen for the three months ended June 30, 2022, a decrease of 15.4% from the same period in the prior year. Non-interest expenses increased by 4.6% from the same period in the prior year to 287.3 billion yen. Income before income taxes was 11.7 billion yen and net income attributable to NHI shareholders was 1.7 billion yen for the three months ended June 30, 2022.

    Segment Information

	Billions of yen				% Change
	For the three months ended				(B-A)/(A)
	June 30, 2021 (A)		June 30, 2022 (B)
Net revenue		349.9		301.9		(13.7	)
Non-interest expenses		274.7		287.3		4.6
Income (loss) before income taxes		75.2		14.6		(80.6	)

In the above segment information totals, which exclude a part of unrealized gain (loss) on investments in equity securities held for operating purposes, net revenue for the three months ended June 30, 2022 was 301.9 billion yen, a decrease of 13.7% from the same period in the prior year. Non-interest expenses increased by 4.6% from the same period in the prior year to 287.3 billion yen. Income before income taxes decreased by 80.6% to 14.6 billion yen for the three months ended June 30, 2022. Please refer to page 10 for further details of the differences between U.S. GAAP and business segment amounts.

– 2 –

<Business Segment Results>

    Operating Results of Retail

	Billions of yen				% Change
	For the three months ended				(B-A)/(A)
	June 30, 2021 (A)		June 30, 2022 (B)
Net revenue		85.0		71.4		(16.0	)
Non-interest expenses		66.0		66.5		0.8
Income (loss) before income taxes		19.0		4.9		(74.2	)

Net revenue decreased by 16.0% from the same period in the prior year to 71.4 billion yen. Non-interest expense increased by 0.8% to 66.5 billion yen. As a result, income before income taxes decreased by 74.2% to 4.9 billion yen.

    Operating Results of Investment Management

	Billions of yen					% Change
	For the three months ended					(B-A)/(A)
	June 30, 2021 (A)		June 30, 2022 (B)
Net revenue		63.5		7.6			(88.1	)
Non-interest expenses		18.6		19.3			3.9
Income (loss) before income taxes		44.9		(11.7	)		—

Net revenue decreased by 88.1% from the same period in the prior year to 7.6 billion yen. Non-interest expense increased by 3.9% to 19.3 billion yen. As a result, loss before income taxes was 11.7 billion yen. Assets under management were 65.6 trillion yen as of June 30, 2022.

    Operating Results of Wholesale

	Billions of yen					% Change
	For the three months ended					(B-A)/(A)
	June 30, 2021 (A)			June 30, 2022 (B)
Net revenue		132.8			199.0		49.9
Non-interest expenses		161.1			173.7		7.8
Income (loss) before income taxes		(28.4	)		25.3		—

Net revenue increased by 49.9% from the same period in the prior year to 199.0 billion yen. Non-interest expense increased by 7.8% to 173.7 billion yen. As a result, income before income taxes was 25.3 billion yen.

– 3 –

    Other Operating Results

	Billions of yen					% Change
	For the three months ended					(B-A)/(A)
	June 30, 2021 (A)		June 30, 2022 (B)
Net revenue		68.7		23.9			(65.2	)
Non-interest expenses		29.1		27.8			(4.3	)
Income (loss) before income taxes		39.6		(3.9	)		—

Net revenue was 23.9 billion yen. Loss before income taxes was 3.9 billion yen.

(2) Consolidated Financial Position

Total assets as of June 30, 2022 were 48,903.3 billion yen, an increase of 5,491.1 billion yen compared to March 31, 2022, mainly due to the increase in Trading assets and Securities purchased under agreements to resell. Total liabilities as of June 30, 2022 were 45,788.2 billion yen, an increase of 5,348.8 billion yen compared to March 31, 2022, mainly due to the increase in Securities sold under agreements to repurchase. Total equity as of June 30, 2022 was 3,115.1 billion yen, an increase of 142.3 billion yen compared to March 31, 2022.

(3) Consolidated Earnings Forecasts

Nomura provides investment, financing and related services in the capital markets on a global basis. In the global capital markets there exist uncertainties due to, but not limited to, economic and market conditions. Nomura, therefore, does not present earnings and dividend forecasts.

(4) Risks related to the COVID-19 pandemic

The COVID-19 pandemic has affected Nomura’s business, and this may continue in the future.

Various risks recognized related to the COVID-19 pandemic is disclosed in Risk Factors in Nomura Holdings, Inc.’s Annual Securities Report (the annual report filed in Japan on June 24, 2022) and Item 3. D. Risk Factors. in Form 20-F (the annual report filed with the U.S. Securities and Exchange Commission on June 24, 2022) for the year ended March 31, 2022.

– 4 –

2. Quarterly Consolidated Financial Statements

The quarterly consolidated financial information herein has been prepared in accordance with Nomura’s accounting policies which are disclosed in the notes to the consolidated financial statements of Nomura Holdings, Inc.’s Annual Securities Report (the annual report filed in Japan on June 24, 2022) and Form 20-F (the annual report filed with the U.S. Securities and Exchange Commission on June 24, 2022) for the year ended March 31, 2022.

– 5 –

(1) Consolidated Balance Sheets

	Millions of yen
	March 31, 2022			June 30, 2022			Increase/ (Decrease)
ASSETS
Cash and cash deposits:
Cash and cash equivalents		3,316,238			3,476,966			160,728
Time deposits		320,754			292,016			(28,738	)
Deposits with stock exchanges and other segregated cash		426,519			424,513			(2,006	)
Total cash and cash deposits		4,063,511			4,193,495			129,984
Loans and receivables:
Loans receivable		3,579,727			4,053,945			474,218
Receivables from customers		417,661			521,500			103,839
Receivables from other than customers		1,069,660			1,190,654			120,994
Allowance for credit losses		(66,346	)		(70,100	)		(3,754	)
Total loans and receivables		5,000,702			5,695,999			695,297
Collateralized agreements:
Securities purchased under agreements to resell		11,879,312			14,192,423			2,313,111
Securities borrowed		4,997,129			5,005,024			7,895
Total collateralized agreements		16,876,441			19,197,447			2,321,006
Trading assets and private equity and debt investments:
Trading assets*		15,230,817			17,559,740			2,328,923
Private equity and debt investments*		65,193			59,428			(5,765	)
Total trading assets and private equity and debt investments		15,296,010			17,619,168			2,323,158
Other assets:
Office buildings, land, equipment and facilities (net of accumulated depreciation and amortization of ¥426,081 million as of March 31, 2022 and ¥460,945 million as of June 30, 2022)		419,047			432,335			13,288
Non-trading debt securities*		484,681			471,597			(13,084	)
Investments in equity securities*		133,897			129,070			(4,827	)
Investments in and advances to affiliated companies*		364,281			380,208			15,927
Other		773,586			783,962			10,376
Total other assets		2,175,492			2,197,172			21,680
Total assets		43,412,156			48,903,281			5,491,125

* Including securities pledged as collateral

– 6 –

			Millions of yen
			March 31, 2022			June 30, 2022			Increase/ (Decrease)
LIABILITIES AND EQUITY
Short-term borrowings				1,050,141			1,337,955			287,814
Payables and deposits:
Payables to customers				1,522,961			1,699,925			176,964
Payables to other than customers				1,636,725			1,937,901			301,176
Deposits received at banks				1,760,679			1,871,238			110,559
Total payables and deposits				4,920,365			5,509,064			588,699
Collateralized financing:
Securities sold under agreements to repurchase				12,574,556			15,102,366			2,527,810
Securities loaned				1,567,351			1,485,103			(82,248	)
Other secured borrowings				396,291			374,284			(22,007	)
Total collateralized financing				14,538,198			16,961,753			2,423,555
Trading liabilities				9,652,118			11,470,562			1,818,444
Other liabilities				1,020,225			943,044			(77,181	)
Long-term borrowings				9,258,306			9,565,778			307,472
Total liabilities				40,439,353			45,788,156			5,348,803
Equity
NHI shareholders’ equity:
Common stock
Authorized	-	6,000,000,000 shares
Issued	-	3,233,562,601 shares as of March 31, 2022 and
		3,233,562,601 shares as of June 30, 2022
Outstanding	-	3,017,804,012 shares as of March 31, 2022 and
		3,003,862,691 shares as of June 30, 2022		594,493			594,493			—
Additional paid-in capital				697,507			678,115			(19,392	)
Retained earnings				1,606,987			1,606,779			(208	)
Accumulated other comprehensive income (loss)				127,973			294,637			166,664
Total NHI shareholders’ equity before treasury stock				3,026,960			3,174,024			147,064
Common stock held in treasury, at cost -
215,758,589 shares as of March 31, 2022 and
229,699,910 shares as of June 30, 2022				(112,355	)		(118,541	)		(6,186	)
Total NHI shareholders’ equity				2,914,605			3,055,483			140,878
Noncontrolling interests				58,198			59,642			1,444
Total equity				2,972,803			3,115,125			142,322
Total liabilities and equity				43,412,156			48,903,281			5,491,125

– 7 –

(2) Consolidated Statements of Income

	Millions of yen					% Change
	For the three months ended					(B-A)/(A)
	June 30, 2021(A)		June 30, 2022(B)
Revenue:
Commissions		82,886		70,431			(15.0	)
Fees from investment banking		35,703		27,285			(23.6	)
Asset management and portfolio service fees		64,044		68,250			6.6
Net gain on trading		51,994		141,918			173.0
Gain (loss) on private equity and debt investments		25,988		(4,535	)		—
Interest and dividends		64,536		109,049			69.0
Gain (loss) on investments in equity securities		3,468		(1,742	)		—
Other		76,553		(688	)		—
Total revenue		405,172		409,968			1.2
Interest expense		51,897		110,940			113.8
Net revenue		353,275		299,028			(15.4	)
Non-interest expenses:
Compensation and benefits		135,603		143,061			5.5
Commissions and floor brokerage		26,816		28,488			6.2
Information processing and communications		44,099		49,732			12.8
Occupancy and related depreciation		16,716		16,359			(2.1	)
Business development expenses		3,294		4,699			42.7
Other		48,214		44,956			(6.8	)
Total non-interest expenses		274,742		287,295			4.6
Income before income taxes		78,533		11,733			(85.1	)
Income tax expense		28,540		11,340			(60.3	)
Net income		49,993		393			(99.2	)
Less: Net income (loss) attributable to noncontrolling interests		1,506		(1,303	)		—
Net income attributable to NHI shareholders		48,487		1,696			(96.5	)
Per share of common stock:
	Yen					% Change
Basic-
Net income attributable to NHI shareholders per share		16.12		0.56			(96.5	)
Diluted-
Net income attributable to NHI shareholders per share		15.59		0.52			(96.7	)

– 8 –

(3) Consolidated Statements of Comprehensive Income

	Millions of yen						% Change
	For the three months ended						(B-A)/(A)
	June 30, 2021(A)			June 30, 2022(B)
Net income		49,993			393			(99.2	)
Other comprehensive income (loss):
Cumulative translation adjustments:
Cumulative translation adjustments		(2,764	)		145,318			—
Deferred income taxes		(311	)		(416	)		—
Total		(3,075	)		144,902			—
Defined benefit pension plans:
Pension liability adjustment		(130	)		926			—
Deferred income taxes		139			(140	)		—
Total		9			786			—
Own Credit Adjustments:
Own Credit Adjustments		5,725			28,859			404.1
Deferred income taxes		(1,432	)		(5,433	)		—
Total		4,293			23,426			445.7
Total other comprehensive income		1,227			169,114			—
Comprehensive income		51,220			169,507			230.9
Less: Comprehensive income attributable to noncontrolling interests		1,765			1,147			(35.0	)
Comprehensive income attributable to NHI shareholders		49,455			168,360			240.4

(4) Note with respect to the Assumption as a Going Concern

Not applicable.

– 9 –

(5) Segment Information – Operating Segment

The following table shows business segment information and reconciliation items to the consolidated statements of income.

	Millions of yen						% Change
	For the three months ended						(B-A)/(A)
	June 30, 2021 (A)			June 30, 2022 (B)
Net revenue
Business segment information:
Retail		84,986			71,386			(16.0	)
Investment Management		63,482			7,579			(88.1	)
Wholesale		132,777			198,987			49.9
Subtotal		281,245			277,952			(1.2	)
Other		68,659			23,925			(65.2	)
Net revenue		349,904			301,877			(13.7	)
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes		3,371			(2,849	)		—
Net revenue		353,275			299,028			(15.4	)
Non-interest expenses
Business segment information:
Retail		65,964			66,470			0.8
Investment Management		18,569			19,293			3.9
Wholesale		161,134			173,715			7.8
Subtotal		245,667			259,478			5.6
Other		29,075			27,817			(4.3	)
Non-interest expenses		274,742			287,295			4.6
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes		—			—			—
Non-interest expenses		274,742			287,295			4.6
Income (loss) before income taxes
Business segment information:
Retail		19,022			4,916			(74.2	)
Investment Management		44,913			(11,714	)		—
Wholesale		(28,357	)		25,272			—
Subtotal		35,578			18,474			(48.1	)
Other*		39,584			(3,892	)		—
Income (loss) before income taxes		75,162			14,582			(80.6	)
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes		3,371			(2,849	)		—
Income (loss) before income taxes		78,533			11,733			(85.1	)

* Major components

Transactions between operating segments are recorded within segment results on commercial terms and conditions, and are eliminated in “Other.”

The following table presents the major components of income (loss) before income taxes in “Other.”

	Millions of yen						% Change
	For the three months ended						(B-A)/(A)
	June 30, 2021 (A)			June 30, 2022 (B)
Net gain (loss) related to economic hedging transactions		3,444			(9,807	)		—
Realized gain (loss) on investments in equity securities held for operating purposes		173			240			38.7
Equity in earnings of affiliates		9,617			16,993			76.7
Corporate items		(9,272	)		(5,988	)		—
Other		35,622			(5,330	)		—
Total		39,584			(3,892	)		—

– 10 –

(6) Significant Changes in Equity

Not applicable. For further details of the changes, please refer below.

	Millions of yen
	For the three months ended June 30, 2022
Common stock
Balance at beginning of year		594,493
Balance at end of period		594,493
Additional paid-in capital
Balance at beginning of year		697,507
Stock-based compensation awards		(19,392	)
Balance at end of period		678,115
Retained earnings
Balance at beginning of year		1,606,987
Net income attributable to NHI shareholders		1,696
Loss on sales of treasury stock		(1,904	)
Balance at end of period		1,606,779
Accumulated other comprehensive income (loss)
Cumulative translation adjustments
Balance at beginning of year		136,912
Net change during the period		142,452
Balance at end of period		279,364
Defined benefit pension plans
Balance at beginning of year		(43,803	)
Pension liability adjustment		786
Balance at end of period		(43,017	)
Own credit adjustments
Balance at beginning of year		34,864
Own credit adjustments		23,426
Balance at end of period		58,290
Balance at end of period		294,637
Common stock held in treasury
Balance at beginning of year		(112,355	)
Repurchases of common stock		(23,209	)
Sale of common stock		0
Common stock issued to employees		17,023
Balance at end of period		(118,541	)
Total NHI shareholders’ equity
Balance at end of period		3,055,483
Noncontrolling interests
Balance at beginning of year		58,198
Net change during the period		1,444
Balance at end of period		59,642
Total equity
Balance at end of period		3,115,125

– 11 –

3. Supplementary Information

(1) Consolidated Statements of Income – Quarterly Comparatives

	Millions of yen													% Change			Millions of yen
	For the three months ended																For the year  ended March 31, 2022
	June 30, 2021		September 30, 2021		December 31, 2021			March 31, 2022(A)			June 30, 2022(B)			(B-A)/(A)
Revenue:
Commissions		82,886		91,636		82,573			75,249			70,431			(6.4	)		332,344
Fees from investment banking		35,703		33,901		46,020			33,979			27,285			(19.7	)		149,603
Asset management and portfolio service fees		64,044		67,193		69,891			68,857			68,250			(0.9	)		269,985
Net gain on trading		51,994		91,142		106,806			118,857			141,918			19.4			368,799
Gain (loss) on private equity and debt investments		25,988		475		4,619			(314	)		(4,535	)		—			30,768
Interest and dividends		64,536		69,925		82,636			67,125			109,049			62.5			284,222
Gain (loss) on investments in equity securities		3,468		2,082		(2,586	)		2,482			(1,742	)		—			5,446
Other		76,553		22,855		13,793			39,631			(688	)		—			152,832
Total revenue		405,172		379,209		403,752			405,866			409,968			1.0			1,593,999
Interest expense		51,897		60,343		52,787			65,082			110,940			70.5			230,109
Net revenue		353,275		318,866		350,965			340,784			299,028			(12.3	)		1,363,890
Non-interest expenses:
Compensation and benefits		135,603		129,245		139,035			125,623			143,061			13.9			529,506
Commissions and floor brokerage		26,816		27,397		24,130			26,861			28,488			6.1			105,204
Information processing and communications		44,099		45,136		46,596			48,488			49,732			2.6			184,319
Occupancy and related depreciation		16,716		17,846		17,507			17,673			16,359			(7.4	)		69,742
Business development expenses		3,294		3,902		4,400			4,045			4,699			16.2			15,641
Other		48,214		76,873		39,197			68,571			44,956			(34.4	)		232,855
Total non-interest expenses		274,742		300,399		270,865			291,261			287,295			(1.4	)		1,137,267
Income before income taxes		78,533		18,467		80,100			49,523			11,733			(76.3	)		226,623
Income tax expense		28,540		12,984		18,482			20,084			11,340			(43.5	)		80,090
Net income		49,993		5,483		61,618			29,439			393			(98.7	)		146,533
Less: Net income (loss) attributable to noncontrolling interests		1,506		2,270		1,285			(1,524	)		(1,303	)		—			3,537
Net income attributable to NHI shareholders		48,487		3,213		60,333			30,963			1,696			(94.5	)		142,996
	Yen													% Change			Yen
Per share of common stock:
Basic-
Net income attributable to NHI shareholders per share		16.12		1.04		19.66			10.26			0.56			(94.5	)		46.68
Diluted-
Net income attributable to NHI shareholders per share		15.59		1.01		19.07			9.89			0.52			(94.7	)		45.23

– 12 –

(2) Business Segment Information – Quarterly Comparatives

The following table shows quarterly business segment information and reconciliation items to the consolidated statements of income.

	Millions of yen															% Change			Millions of yen
	For the three months ended																		For the year ended
	June 30, 2021			September 30, 2021			December 31, 2021			March 31, 2022(A)			June 30, 2022(B)			(B-A)/(A)			March 31, 2022
Net revenue
Business segment information:
Retail		84,986			85,191			87,351			70,457			71,386			1.3			327,985
Investment Management		63,482			34,329			40,108			10,074			7,579			(24.8	)		147,993
Wholesale		132,777			172,669			202,709			194,900			198,987			2.1			703,055
Subtotal		281,245			292,189			330,168			275,431			277,952			0.9			1,179,033
Other		68,659			24,809			21,568			64,198			23,925			(62.7	)		179,234
Net revenue		349,904			316,998			351,736			339,629			301,877			(11.1	)		1,358,267
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes		3,371			1,868			(771	)		1,155			(2,849	)		—			5,623
Net revenue		353,275			318,866			350,965			340,784			299,028			(12.3	)		1,363,890
Non-interest expenses
Business segment information:
Retail		65,964			68,207			69,316			65,258			66,470			1.9			268,745
Investment Management		18,569			19,300			19,757			18,852			19,293			2.3			76,478
Wholesale		161,134			147,700			161,875			157,854			173,715			10.0			628,563
Subtotal		245,667			235,207			250,948			241,964			259,478			7.2			973,786
Other		29,075			65,192			19,917			49,297			27,817			(43.6	)		163,481
Non-interest expenses		274,742			300,399			270,865			291,261			287,295			(1.4	)		1,137,267
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes		—			—			—			—			—			—			—
Non-interest expenses		274,742			300,399			270,865			291,261			287,295			(1.4	)		1,137,267
Income (loss) before income taxes
Business segment information:
Retail		19,022			16,984			18,035			5,199			4,916			(5.4	)		59,240
Investment Management		44,913			15,029			20,351			(8,778	)		(11,714	)		—			71,515
Wholesale		(28,357	)		24,969			40,834			37,046			25,272			(31.8	)		74,492
Subtotal		35,578			56,982			79,220			33,467			18,474			(44.8	)		205,247
Other*		39,584			(40,383	)		1,651			14,901			(3,892	)		—			15,753
Income (loss) before income taxes		75,162			16,599			80,871			48,368			14,582			(69.9	)		221,000
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes		3,371			1,868			(771	)		1,155			(2,849	)		—			5,623
Income (loss) before income taxes		78,533			18,467			80,100			49,523			11,733			(76.3	)		226,623

* Major components

Transactions between operating segments are recorded within segment results on commercial terms and conditions, and are eliminated in “Other.”

The following table presents the major components of income (loss) before income taxes in “Other.”

	Millions of yen															% Change			Millions of yen
	For the three months ended																		For the year  ended March 31, 2022
	June 30, 2021			September 30, 2021			December 31, 2021			March 31, 2022(A)			June 30, 2022(B)			(B-A)/(A)
Net gain (loss) related to economic hedging transactions		3,444			(3,825	)		(1,128	)		(8,428	)		(9,807	)		—			(9,937	)
Realized gain (loss) on investments in equity securities held for operating purposes		173			23			19			1,140			240			(78.9	)		1,355
Equity in earnings of affiliates		9,617			5,571			5,366			16,236			16,993			4.7			36,790
Corporate items		(9,272	)		(45,566	)		(1,807	)		(34,428	)		(5,988	)		—			(91,073	)
Other		35,622			3,414			(799	)		40,381			(5,330	)		—			78,618
Total		39,584			(40,383	)		1,651			14,901			(3,892	)		—			15,753

– 13 –

(3) Other

Quarterly financial information for Nomura Securities Co., Ltd. can be found at the following URL.

https://www.nomuraholdings.com/company/group/nsc/pdf/2023_1q.pdf

– 14 –