Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]

 

 

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 2024

 

 

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), First quarter, year ending March 2025

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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: August 2, 2024		By:		/s/ Yoshifumi Kishida
				Yoshifumi Kishida
				Senior Managing Director

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Consolidated Results of Operations First quarter, year ending March 2025 (US GAAP) July 2024 Nomura Holdings, Inc. We aspire to create a better world by harnessing the power of financial markets © Nomura

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Outline Presentation Financial Supplement Executive summary (p. 2) Overview of results (p. 3) Business segment results (p. 4) Wealth Management (p. 5-7) Investment Management (p. 8-9) Wholesale (p. 10-12) Non-interest expenses (p. 13) Robust financial position (p. 14) Consolidated balance sheet (p. 16) Value at risk (p. 17) Consolidated financial highlights (p. 18) Consolidated income (p. 19) Main revenue items (p. 20) Consolidated results: Income (loss) before income taxes by segment and region (p. 21) Segment “Other” (p. 22) Wealth Management related data (p. 23-26) Investment Management related data (p. 27-28) Wholesale related data (p. 29) Number of employees (p. 30) 1

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Executive summary FY2024/25 1Q highlights Income (loss) before income taxes, and net income (loss)1 Net revenue: Y454.4bn (+2% QoQ); Income before income taxes: Y102.9bn (+12% QoQ); Net income1: Y68.9bn (+21% QoQ); EPS2: Y22.36; ROE3: 8.1% Groupwide (billions of yen) Income (loss) before income taxes Net income (loss) Three segment income before income taxes increased for five consecutive quarters to Y86.6bn—Inflows into stable businesses lifted client assets; Wholesale continued to diversify revenues Wealth Management income before income taxes at highest level in nine years since FY2015/16 1Q 46.3 23.3 56.7 35.2 78.7 92.1 50.5 56.8 102.9 68.9 – Further deepened segment-based approach and grew revenues in each segment – Asset management recurring business continued to grow with recurring revenue assets and recurring revenue at record high FY2023/24 1Q 2Q3Q4Q FY2024/25 1Q Investment Management stable business revenue at highest level since division established in April 2021 Three segment income before income taxes Wholesale – Net inflows lifted assets under management to record high of Y92.5trn – Continued to gain ground in private asset space as alternative assets under management topped Y2trn Investment Management Wealth Management 70.5 60.5 (billions of yen) 86.6 77.1 Wholesale income before income taxes edged up QoQ – Global Markets reported robust performance in Spread Products and Equities, while we continued to diversify our revenue streams – Investment Banking slowed from strong prior quarter on a dip in transactions executed and seasonal factors in Japan 28.7 FY2023/24 1Q2Q3Q4Q FY2024/25 1Q 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.2

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Overview of results Highlights (billions of yen, excluding EPS and ROE) FY2023/24 FY2024/25 1Q 2Q 3Q 4Q 1Q QoQ YoY Net revenue 348.9 367.8 400.2 445.1 454.4 2% 30% Non-interest expenses 302.6 311.0 321.5 353.0 351.5 -0.4% 16% Income (loss) before income taxes 46.3 56.7 78.7 92.1 102.9 12% 122% Net income (loss)1 23.3 35.2 50.5 56.8 68.9 21% 3.0x EPS2 Y7.40 Y11.21 Y16.10 Y18.02 Y22.36 24% 3.0x ROE3 2.9% 4.3% 6.2% 6.8% 8.1% 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.3

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Business segment results Net revenue and income (loss) before income taxes (billions of yen) FY2023/24 FY2024/25 1Q2Q3Q4Q1QQoQYoY Net revenue Wealth Management 92.1 98.9 102.6 108.8 114.0 5% 24% Investment Management 26.5 45.1 38.9 43.6 47.7 9% 80% Wholesale 190.9 204.1 217.0 254.2 244.8 -4% 28% Subtotal309.4 348.1 358.6 406.5 406.5 -0% 31% Other* 43.8 17.0 54.6 34.4 46.7 36% 7% Unrealized gain (loss) on investments in equity securities held for operating purpose-4.32.7-13.04.21.2-71%- Net revenue348.9367.8400.2445.1454.42%30% Income (loss) before income Wealth Management22.929.031.938.842.39%84% taxes Investment Management3.623.215.617.823.231%6.4x Wholesale2.18.323.020.621.1 3%10.1x Subtotal28.760.570.577.186.612%3.0x Other*21.9-6.521.210.815.140%-31% Unrealized gain (loss) on investments in equity securities held for operating purpose-4.32.7-13.04.21.2-71%- Income (loss) before income taxes46.356.778.792.1102.912%122% *Additional information on “Other” (FY2024/25 1Q) Loss related to economic hedging (Y2.9bn) Loss on changes to own and counterparty credit spread relating to Derivatives (Y0.6bn) 4

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Wealth Management Net revenue and income (loss) before income taxes Key points (billions of yen) FY2023/24 FY24/25 1Q2Q3Q4Q1Q QoQYoY Net revenue: Y114bn (+5% QoQ; +24% YoY) Income before income taxes: Y42.3bn (+9% QoQ; +84% YoY) Income before income taxes at highest level in nine years since FY2015/16 1Q Net revenue92.198.9102.6 108.8114.05%24% Non-interest expenses69.169.970.770.071.72%4% Income (loss) before income taxes22.929.031.938.842.39%84% Breakdown of net revenue –Continued to develop segment-based approach, growing revenues in each segment –Asset management recurring revenue business continued to gain traction, lifting recurring revenue to record high –Continued to stabilize earnings structure by controlling costs centered on non-personnel expenses, resulting in an increase in recurring revenue cost coverage ratio to 64% (billions of yen) Flow revenue, etc. Recurring revenue 120.0 100.0 80.0 60.0 40.0 20.0 Recurring revenue Net inflows drove recurring revenue assets to record high of Y24.3trn Recurring revenue up 10% QoQ driven by higher fees from investment trusts and discretionary investments Flow revenue, etc. Flow revenue, etc. grew by 2% QoQ on an uptick in investment trust transactions and an increase in insurance contracts 0.0 FY2023/24FY24/25 Growth of client assets FY2023/24 4QFY2024/25 1Q QoQYoY 1Q 2Q 3Q 4Q 1Q Investment trust net inflows3+Y243.2bn+Y307.7bn Recurring revenue134.238.938.641.845.810%34%Discretionary investment net inflows3+Y9.4bn+Y96.5bn Flow revenue, etc.257.860.164.067.068.22%18%Net inflows of cash and securities4-Y655.5bn+Y802.9bn Net revenue92.198.9102.6108.8114.05%24%Recurring revenue cost coverage ratio560%64% 1.Revenue from client assets and ongoing revenue (investment trusts, discretionary investments, insurance, loans, level fee assets, etc.).2. Revenue from transactions (brokerage revenue, consulting-related revenue), interest income, etc. other than from loans.3.Excludes Corporate section. Figures for FY2023/24 4Q have been revised following a change in definition in FY2024/25 1Q. 4.Cash and securities inflows minus outflows, excluding regional financial institutions.5. Recurring revenue divided by non-interest expenses.5

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Wealth Management: Total sales increased underpinned by diverse product and service offering Total sales1 Discretionary investments, Insurance products Investment trusts Bonds Stocks (billions of yen) 7,000.0 6,000.0 5,000.0 4,000.0 3,000.0 2,000.0 1,000.0 0.0 FY2023/24 1Q 2Q 3Q4Q FY2024/25 1Q Total sales1 increased 9% QoQ Stocks: +7% QoQ – Increased due to contribution from tender offer (over Y1trn), but excluding that Japan secondary stock sales slowed QoQ – Primary stock subscriptions1 declined 8% QoQ to Y81.8bn Bonds: -7% QoQ – Sales of foreign bonds declined in absence of primary transactions Investment trusts: +27% QoQ – Market rally led to improved client sentiment and higher sales of US stock and global stock funds Discretionary investments: +60% QoQ Stocks2,788.53,484.83,146.74,491.34,785.8 Bonds2651.5746.8617.8749.3695.6 Investment trusts597.4619.8605.0764.2971.0 Discretionary Investments101.1126.0118.9125.5200.8 Insurance120.9120.5164.982.0113.3 Total sales14,259.45,097.94,653.46,212.26,766.6 – Strong growth in SMA contracts mainly with high-net-worth clients Insurance: +38% QoQ – Stronger sales of insurance products due to demand for retirement funds and estate planning as US interest rates remain high 1.Excludes Corporate section and Workplace Solution Department. 2.Following a revision to the scope of bond sales, figures prior to FY2023/24 1Q have been reclassified to meet the new definition.6

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Wealth Management: KPI summary Net inflows of recurring revenue assets1 Recurring revenue assets and recurring revenue2 Higher net inflows of recurring revenue assets primarily into investment trusts and discretionary investments thanks to broad product and service offering Recurring revenue assets above March 2025 target (Y22.3trn), while recurring revenue reached record high (billions of yen) 500.0 Wealth Management total Excluding Corporate section 488.2 (trillions of yen) (billions of yen) Recurring revenue assets Recurring revenue (rhs) 400.0 300.0 200.0 186.4 226.1 242.5 238.3 141.1 344.3 227.3 387.9 25.0 20.0 34.238.938.6 41.845.8 24.3 50.0 40.0 100.0 0.0 107.4 FY2023/24 FY2024/25 15.0 10.0 20.320.221.023.0 FY2023/24 FY2024/25 30.0 20.0 1Q2Q3Q4Q1Q Jun/1QSep/2Q Dec/3QMar/4Q Jun/1Q Flow business clientsWorkplace services Increased in-person and remote contact by Sales Partners and higher use of apps and other digital tools led to an increase in flow business client numbers YoY (thousands) Steady growth in provision of workplace services driven by ESOP as we see benefits of strengthening approach to corporates and employees and executives. Achieved FY2024/25 target of 3.66 million ahead of schedule (thousands) 1,800 1,600 1,000 925 1,247 1,456 1,692 3,800 3,600 3,400 3,200 3,5553,5653,5973,627 3,732 800 896 FY2023/24FY2024/25 3,000 JunSepDecMar FY2023/24 JunSep DecMar FY2024/25 Jun 1.Excludes investment trust distributions, and investment trust net inflows in level fee accounts. Figures from before FY2023/24 4Q have been reclassified following a change in definition of net inflows of recurring assets in FY2024/25 1Q. 2.Revenue from client assets and ongoing revenue (investment trusts, discretionary investments, insurance, loans, level fee assets, etc.).7

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Net revenue and income (loss) before income taxes Key points (billions of yen) FY2023/24 FY24/25 QoQ YoY 1Q2Q3Q4Q1Q Net revenue: Y47.7bn (+9% QoQ; +80% YoY) Income before income taxes: Y23.2bn (+31% QoQ; 6.4x YoY) Stable business revenue at highest level since division established in April Net revenue26.545.138.943.647.79%80% Non-interest expenses22.921.923.325.824.5-5%7% Income (loss) before income taxes Breakdown of net revenue (billions of yen) 60.0 2021 -Net inflows of Y950bn lifted AuM to record high of Y92.5trn Investment gain/loss increased on contributions from valuation gains and dividends from Nomura Capital Partners portfolio companies Business revenue Net revenue: Y39.1bn (+3% QoQ; +20% YoY) -Asset management business delivered strong performance with AuM remaining elevated throughout the quarter, while asset management fees Investment gain/loss Business revenue 40.0 20.0 0.0 -20.0 FY2023/24FY24/25 QoQYoY grew significantly on continued inflows into active funds and private assets across diverse distribution channels -Nomura Babcock & Brown had another robust quarter but slowed from the strong previous quarter Investment gain/loss Net revenue: Y8.6bn (+54% QoQ) -Unrealized gain/loss from Nomura Capital Partners doubled QoQ 1Q 2Q 3Q 4Q 1Q Business revenue132.533.433.338.039.13%20% Investment gain/loss2-6.011.75.65.68.654%- Net revenue26.545.138.943.647.79%80% -American Century Investments related valuation gain/loss grew slightly 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.8

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Assets under management (net)1 (trillions of yen) 100.0 Investment advisory and international businesses, etc. Investment trust business 89.0 92.5 78.5 Assets under management at record high of Y92.5trn Investment trust business Net inflows: Investment trusts (excl. ETFs, MRFs, etc.) Y410bn; ETFs 80.0 60.0 40.0 76.1 76.5 21.121.422.2 24.426.1 Y150bn; MRFs, etc. Y140bn Investment trusts (excl. ETFs, MRFs, etc.): Inflows across diverse distribution channels into balanced funds, global stock funds and private assets ETFs: Inflows into Japan stocks and foreign bonds 20.0 0.0 55.055.156.464.666.4 Investment advisory and international businesses Won mandates in Japan for foreign and Japan stocks l business booked inflows into US high yield bond and global Net inflows2Steady growth in alternative AuM3 (billions of yen) 2,000 1,500 1,713 1,064 Investment advisory and international businesses, etc. Investment trust business 1,128 951 (billions of yen) 2,500 2,000 1,500 1,5441,6821,648 1,861 2,130 1,000 500 0 -500 593 649475 FY2023/24 118 385 -60 326 347256 780695 FY2024/25 1,000 500 0 FY2023/24 FY2024/25 1Q2Q 3Q4Q1Q JunSep DecMar Jun 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 investments related to assets under management of asset management companies under Investment Management Division. 2. Based on assets under management (net).3. Total of Nomura Asset Management alternative AuM and third party investments related to assets under management of asset management companies under Investment Management Division.9

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Net revenue and income (loss) before income taxes Key points Net revenue: Y244.8bn (-4% QoQ; +28% YoY) Income before income taxes: Y21.1bn (+3% QoQ; 10.1x YoY) Net revenue remained strong despite slowing QoQ In Global Markets, Macro Products was flat QoQ, while Spread Products revenues reported strong growth driven by US Securitized Products and Japan Credit business; Equities booked higher revenues in Execution Services on the back of robust global equity markets Investment Banking slowed from particularly strong prior quarter, but Japan M&A delivered stronger revenues by supporting multiple large transactions Expenses declined QoQ as last quarter’s loss provision2 and year-end factors were no longer present this quarter, more than offsetting an increase in commissions and floor brokerage and severance-related expenses Net revenue by business line Net revenue by region (billions of yen) 250.0 200.0 69.282.1 150.0 98.494.6 40.737.0 Americas EMEA 100.0 50.0 0.0 30.334.134.4 27.234.537.944.239.4 69.266.262.671.073.9 AEJ Japan FY2023/24 1Q2Q3Q4Q FY2024/25 1Q 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.Loss provision arising from settlement failures with a broker counterparty (approx. Y14bn).10

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Net revenue Key points Net revenue: Y207.7bn (+2% QoQ; +29% YoY) Fixed Income revenues grew 3% QoQ driven by stronger revenues in Spread Products such as Credit and Securitized Products Equities revenues remained roughly unchanged QoQ as higher revenues in Execution Services offset a slowdown in Equity Products Fixed Income Net revenue: Y125.6bn (+3% QoQ; +29% YoY) - Macro Products: Rates revenues increased on uptick in client activity in Japan, while Americas and EMEA revenues slowed QoQ as investors remained on the sidelines -Spread Products: Securitized Products continued to maintain strong momentum with revenue growth in Americas from higher origination activity and secondary trading businesses. Increase in Credit revenues driven by Japan on strong demand for yield products due to Japan versus overseas interest rate differentials Equities Net revenue: Y82bn (+0.2% QoQ; +30% YoY) -Equity Products: Americas and EMEA booked stronger revenues on robust performance in financing and derivatives, while Japan and AEJ slowed from strong previous quarter -Execution Services: Strength in Americas and EMEA performance from successfully tapping client flows. Japan revenues remained elevated for four consecutive quarters 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, Other gains and losses not attributable to a particular desk. 5. Cash and derivatives trading and Prime Services.6. Equities execution business.11

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Net revenue (billions of yen) Leveraged Japan strengths on multiple high-profile deals Advisory Financing 40.0 Financing, Solutions, etc. Collaborated across regions to win multiple cross-border mandates Supported clients’ global fundraising needs driven by 20.0 0.0 FY2023/24 FY2024/25 Advisory Major transactions Sale of Infocom by Teijin to Blackstone (US) (Y237.9bn) robust Japan ECM Major transactions Rohm: Euro-Yen CB (Y200bn) 1Q2Q3Q4Q 1QQoQYoY Sale of Alps Logistics by Alps Alpine MODEC: Public offering (Y66.4bn) EXEDY: Public offering (Y36.8bn) 30.533.445.449.837.2-25%22% Key points Net revenue: Y37.2bn (-25% QoQ; +22% YoY) Advisory had a strong quarter in Japan, but slowed internationally Financing and Solutions, etc.1 saw slower revenues in Japan ECM QoQ due to seasonal factors, while ALF also slowed from strong previous quarter Advisory -Completed M&A transactions contributed to Japan revenues as we responded to diverse needs of clients including delistings, business reorganizations and cross-border transactions -International revenues slowed from strong prior quarter, but client interactions remained robust Financing and Solutions, etc.1 -In ECM we executed multiple follow-on offerings and convertible bond issuances, retaining the top spot in the Japan-related ECM league table2 -DCM revenues dipped slightly but remained solid to Logisteed (former Hitachi Transport System), a KKR company (Y166.3bn) Business alliance between KDDI and Skydio (US) ($64m) Isetan Mitsukoshi Holdings acquisition of minority shares to turn Isetan Singapore into wholly owned subsidiary (SGD140m) Capital and business alliance between Cosel and Lite-On Technology (Taiwan) including third-party allotment (Y12bn) Sale of Unison Energy (US) to Tiger Infrastructure Partners (US) (undisclosed) Sale of Systra (France) shares held by Societe Nationale SNCF (France) (undisclosed) Hoshino Resorts REIT: Public offering (green equity offering) (Y18.7bn) Aadhar Housing Finance (India): IPO (INR30bn) Asahi Group Holdings: Euro- denominated bonds (€1bn) SoftBank Group: Retail bonds (Y550bn) International Development Association: Sustainable development bonds ($4bn) Asian Development Bank: US dollar-denominated bonds ($3.5bn) Republic of Indonesia: Samurai bonds (Y200bn) UKG (US): Refinancing ($950m) 1.ECM, DCM, ALF, businesses run together with Global Markets, and other revenue not attributed to a particular product. 2.Source LSEG, Jan – Jun 2024 12

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Other (billions of yen) 1,500 Full year Quarter 1,288.2 353.0 351.5 (billions of yen) 400 Key points Non-interest expenses: Y351.5bn (-0.4% QoQ) Business development expenses Occupancy and related depreciation Information processing and communications Commissions and floor brokerage Compensation and benefits 1,000 500 0 1,186.1 FY2022 /23 FY2023 /24 302.6311.0321.5 FY2023/24 1Q2Q3Q4Q FY2024/25 1Q 200 0 QoQ Compensation and benefits (+4% QoQ) -Increased due mainly to yen depreciation from last quarter -Also pushed up by higher fixed pay and severance-related expenses Commissions and floor brokerage (+17% QoQ) -Increase driven by higher trading volumes Other expenses (-25% QoQ) Compensation and benefits 605.8 673.5 158.7 167.1 170.6 177.1 184.5 4.2% Commissions and floor brokerage119.2137.331.434.334.337.343.616.9% Information processing and communications209.5217.152.853.654.356.355.8-1.0% Occupancy and related depreciation66.968.716.617.516.817.817.6-1.0% Business development expenses22.624.26.15.46.26.56.60.5% Other162.0167.237.033.139.357.943.4-25.1% Total1,186.1 1,288.2302.6311.0321.5353.0351.5-0.4% -Last quarter included a loss provision arising from settlement failures with a broker counterparty (Y14bn) 13

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Robust financial position Balance sheet related indicators and capital ratios RWA and CET 1 capital ratio3 Mar 2024 Jun 2024 Total assetsY55.1trnY59.7trn Shareholders’ equityY3.4trnY3.5trn (trillions of yen) 20.0 RWA (Basel 3) (lhs)CET 1 capital ratio (Basel 3) (rhs) 16.6%16.5%16.3%16.2% 20.0% Gross leverage 16.5x 17.3x Net leverage1 10.2x 11.0x Level 3 assets (net) Y1.0trn Y1.3trn Liquidity portfolio Y8.4trn Y9.0trn 15.0 10.0 5.0 15.6% 15.0% 10.0% 5.0% (billions of yen) 0.0 2 FY2023/24 JunSepDecMar FY2024/25 Jun 0.0% Basel 3 basisMar 2024Jun 2024 Tier 1 capital3,4683,537 Tier 2 capital0.50.5 Total capital3,4683,538 Changes in RWA2 (trillions of yen) 20.2 RWA18,97620,245 Tier 1 capital ratio18.2%17.4% 3 20.0 15.0 19.0 2.8 0.4 0.9 -0.0 2.8 Operational risk CET 1 capital ratio 16.2%15.6% 10.0 5.0 6.4 9.8 7.2 10.2 Market risk Credit risk 0.0 Mar 2024Jun 2024 1.Net leverage: Total assets minus securities purchased under agreements to resell and securities borrowed, divided by Nomura Holdings shareholders’ equity.2.Jun 2024 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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Financial Supplement

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Consolidated balance sheet Consolidated balance sheet (billions of yen) Assets Mar 31, 2024 Jun 30, 2024 Increase (Decrease) Liabilities Mar 31, 2024 Jun 30, 2024 Increase (Decrease) Total cash and cash deposits 5,155 4,806 -349 Short-term borrowings 1,055 1,186 131 Total payables and deposits 6,490 6,845 355 Total loans and receivables 6,834 7,343 510 Total collateralized financing 19,397 20,762 1,365 Trading liabilitieso10,891 12,558 1,667 Total collateralized agreements 20,995 21,700 705 Other liabilities 1,415 1,595 180 Long-term borrowings 12,452 13,232 780 Total trading assets and private equity and debt investments1 19,657 23,080 3,423 Total liabilities 51,699 56,178 4,479 Total other assets1 2,507 2,812 305 Equity Total NHI shareholders’ equity 3,350 3,463 113 Noncontrolling interest 98 100 2 Total assets 55,147 59,741 4,594 Total liabilities and equity 55,147 59,741 4,594 1. Including securities pledged as collateral.16

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Value at risk Definition 95% confidence level 1-day time horizon for outstanding portfolio Inter-product price fluctuations considered From April 1, 2023, to June 30, 2024 (billions of yen) Maximum:6.9 Minimum:5.2 Average:6.0 (billions of yen) FY2022/23 MarFY2023/24 MarFY2023/24 Jun Sep Dec MarFY2024/25 Jun Equity 3.3 3.3 3.2 3.0 3.6 3.3 3.2 Interest rate 4.7 2.6 4.6 3.5 2.8 2.6 2.6 Foreign exchange 1.4 2.1 2.3 1.7 2.3 2.1 2.4 Sub-total 9.4 8.0 10.1 8.2 8.7 8.0 8.2 Diversification benefit -3.2 -2.5 -3.9 -2.7 -2.9 -2.5 -2.9 VaR 6.2 5.5 6.2 5.5 5.8 5.5 5.3 17

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Consolidated financial highlights (billions of yen) Net income (loss) attributable to Nomura Holdings, Inc. (“NHI”) shareholders ROE(%) 200 150 100 50 92.8 3.1% 165.9 5.1% 10% 8% 6% 4% 2% 100 75 50 25 23.3 2.9% 35.2 3.6% 50.5 4.5% 56.8 5.1% 8.1% 68.9 10% 8% 6% 4% 2% 0 FY2022/23 0% FY2023/24 0 FY2023/24 0% FY2024/25 1Q 2Q 3Q 4Q 1Q Net revenue1,335.61,562.0348.9367.8400.2445.1454.4 Income (loss) before income taxes149.5273.946.356.778.792.1102.9 Net income (loss) attributable to Nomura Holdings, Inc. (“NHI”) shareholders 92.8165.923.335.250.556.868.9 Total NHI shareholders’ equity3,148.63,350.23,265.43,291.43,279.53,350.23,463.0 ROE (%)13.1%5.1%2.9%3.6%4.5%5.1%8.1% Basic-Net income (loss) attributable to NHI shareholders per share (yen) Diluted-Net income (loss) attributable to NHI shareholders per share (yen) 30.8654.977.7111.6116.7718.9223.33 29.7452.697.4011.2116.1018.0222.36 Total NHI shareholders’ equity per share (yen)1,048.241,127.721,071.381,092.031,087.951,127.721,172.07 1.Quarterly ROE is calculated using annualized year-to-date net income.18

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Consolidated income (billions of yen) FY2022/23 FY2023/24 FY2023/24 FY2024/25 Revenue 1Q 2Q 3Q4Q1Q Commissions279.9364.182.888.985.7106.7102.8 Fees from investment banking113.2173.331.138.655.248.341.3 Asset management and portfolio service fees271.7310.271.876.777.584.290.3 Net gain on trading563.3491.6115.6116.6125.1134.4132.0 Gain (loss) on private equity and debt investments14.511.96.91.11.92.03.2 Interest and dividends1,114.72,620.9549.7658.5686.3726.4788.6 Gain (loss) on investments in equity securities-1.49.64.82.8-3.45.41.4 Other130.9175.830.829.552.163.458.4 Total revenue2,486.74,157.3893.41,012.71,080.51,170.81,217.9 Interest expense1,151.12,595.3544.4644.9680.3725.7763.4 Net revenue1,335.61,562.0348.9367.8400.2445.1454.4 Non-interest expenses1,186.11,288.2302.6311.0321.5353.0351.5 Income (loss) before income taxes149.5273.946.356.778.792.1102.9 Net income (loss) attributable to NHI shareholders92.8165.923.335.250.556.868.9 19

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Main revenue items (billions of yen) FY2022/23 FY2023/24 FY2023/24 FY2024/25 Commissions 1Q 2Q 3Q 4Q 1Q Stock brokerage commissions 190.8 242.7 55.2 58.3 56.4 72.7 64.9 Other brokerage commissions 17.9 15.6 4.0 4.0 3.9 3.8 4.1 Commissions for distribution of investment trusts 30.3 56.2 13.4 14.0 13.1 15.7 20.3 Other 41.0 49.5 10.1 12.6 12.3 14.5 13.4 Total 279.9 364.1 82.8 88.9 85.7 106.7 102.8 Fees from Investment banking Asset Management and portfolio service fees Equity underwriting and distribution18.9 45.5 4.5 13.1 17.9 9.9 7.4 Bond underwriting and distribution21.1 27.5 5.3 5.2 7.9 9.0 8.8 M&A / Financial advisory fees 53.9 61.6 13.6 10.0 21.0 17.0 16.6 Other 19.3 38.8 7.6 10.3 8.4 12.4 8.4 Total 113.2 173.3 31.1 38.6 55.2 48.3 41.3 Asset management fees 171.3 193.5 45.2 47.6 48.1 52.5 55.9 Administration fees 76.2 88.2 20.0 22.0 22.2 23.9 26.5 Custodial fees 24.2 28.5 6.6 7.0 7.2 7.7 8.0 Total 271.7 310.2 71.8 76.7 77.5 84.2 90.3 20

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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 (billions of yen) Geographic information: Income (loss) before income taxes1 (billions of yen) FY2022/23 FY2023/24 FY2023/24FY2024/25 1Q2Q3Q4Q1Q Americas-51.714.7-19.913.17.114.313.3 Europe9.2-33.1-5.9-9.20.8-18.8-4.8 Asia and Oceania31.023.81.92.510.19.38.4 Subtotal-11.55.4-23.96.518.04.817.0 Japan161.0268.570.350.260.787.386.0 Income (loss) before income taxes149.5273.946.356.778.792.1102.9 1.Geographic information is based on U.S. GAAP. 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.21

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Segment “Other” Income (loss) before income taxes (billions of yen) 90 73.4 60 47.4 30 21.9 21.2 10.8 15.1 0 1 2345 -6.5 -30 FY2022/23 FY2023/24 FY2023/24 FY2024/25 Net gain (loss) related to economic 1Q 2Q 3Q 4Q 1Q -4.8 2.0 3.4 -8.9 7.6 0.0 -2.9 hedging transactions Realized gain (loss) on investments in equity 28.4 21.0 8.2 0.0 11.8 1.0 - securities held for operating purposes Equity in earnings of affiliates 47.7 46.4 13.7 9.0 8.8 14.9 14.8 Corporate items -12.6 -12.0 1.9 1.4 -6.5 -8.9 5.5 Others 14.7 -10.1 -5.3 -8.0 -0.5 3.8 -2.3 Income (loss) before income taxes 73.4 47.4 21.9 -6.5 21.2 10.8 15.1 22

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Wealth Management related data (1) (billions of yen) FY2022/23 FY2023/24 FY2023/24 FY2024/25 1Q 2Q 3Q 4Q 1Q QoQ YoY Commissions112.5173.541.341.941.149.149.81.5%20.6% Of which, stock brokerage commission50.980.219.118.817.225.119.1-24.2%-0.4% Of which, commissions for distribution of investment trusts 30.254.913.413.513.115.020.235.1%51.3% Sales credit 44.2 55.9 12.8 14.9 14.3 14.0 14.5 3.8% 14.1% Fees from investment banking and other 16.2 23.1 3.8 5.1 9.1 5.1 4.4 -12.6% 16.5% Investment trust administration fees and other 108.1 124.4 28.4 31.0 31.2 33.9 37.5 10.8% 32.0% Net interest revenue 19.3 25.5 5.8 6.1 6.9 6.7 7.7 14.3% 32.5% Net revenue 300.2 402.4 92.1 98.9 102.6 108.8 114.0 4.8% 23.8% Non-interest expenses 266.7 279.7 69.1 69.9 70.7 70.0 71.7 2.4% 3.8% Income before income taxes 33.5 122.7 22.9 29.0 31.9 38.8 42.3 9.0% 84.2% Domestic distribution volume of investment trusts 2,111.03,271.8726.7820.5757.6966.91,203.524.5%65.6% Stock investment trusts1,560.32,525.9607.9626.6627.3664.0955.643.9%57.2% Foreign investment trusts550.7745.9118.8193.9130.3302.9247.9-18.2%108.6% Other Sales of JGBs for individual investors (transaction base) 23

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Wealth Management related data (2) Wealth Management client assets (trillions of yen) Other Foreign investment trusts Bond investment trusts Stock investment trusts Domestic bonds Foreign currency bonds Equities 160 120 80 40 0 122.2 153.5 133.3 134.4 135.9 153.5153.5 FY2022/23FY2023/24 FY2023/24 FY2024/25 Mar Mar Jun Sep Dec Mar Jun Equities 78.0 102.5 86.6 87.7 87.9 102.5 100.6 Foreign currency bonds 5.3 6.4 5.7 5.8 6.0 6.4 6.8 Domestic bonds1 13.2 13.7 13.3 13.3 13.5 13.7 13.7 Stock investment trusts 10.2 13.3 11.3 11.2 11.9 13.3 14.2 Bond investment trusts 6.8 7.3 7.2 7.1 7.1 7.3 7.3 Foreign investment trusts 1.2 1.8 1.4 1.5 1.5 1.8 2.0 Other2 7.5 8.6 7.8 7.8 8.0 8.6 8.9 Total 122.2 153.5 133.3 134.4 135.9 153.5 153.5 1. Including CBs and warrants.2.Including annuity insurance.24

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Wealth Management related data (3) Net inflows of cash and securities1 (billions of yen) 1,600 Wealth Management total Retail only Wealth Management total Retail only 1,200 800 400 0 720 194 1,273 755 352 357 238 90 1,220 290 138 803 460 -400 -800 -656 FY2022/23 FY2023/24FY2023/24FY2024/25 1Q2Q3Q4Q1Q Wealth Management total7201,2733523571,220-656803 Retail only219475523890290138460 Inflows of cash and securities 34,6235,3051,2511,1991,4261,4301,750 1.Cash and securities inflows minus outflows, excluding regional financial institutions. 2.Retail excludes Corporate section, Private Wealth Management and Workplace Service from Wealth Management total. Figures from before FY2023/24 4Q have been reclassified following a change in definition in FY2024/25 1Q. 3.Retail Only. Figures from before FY2023/24 4Q have been reclassified following a change in definition in FY2024/25 1Q.25

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Wealth Management related data (4) Number of accounts (thousands) FY2022/23 Mar FY2023/24 MarFY2023/24 Jun Sep Dec MarFY2024/25 Jun Accounts with balance 5,353 5,496 5,395 5,396 5,448 5,496 5,524 Equity holding accounts 2,993 2,972 2,976 2,962 2,964 2,972 2,978 NISA accounts opened1 1,632 1,780 1,681 1,699 1,758 1,780 1,745 Online service accounts 5,208 5,582 5,297 5,377 5,476 5,582 5,655 New Individual accounts / IT share2 (thousands) FY2022/23 FY2023/24 FY2023/24 FY2024/25 1Q 2Q 3Q 4Q 1Q New individual accounts 199 334 60 88 87 99 83 IT share2 No. of orders 85% 84% 84% 84% 83% 84% 84% Transaction value 59% 59% 58% 58% 59% 59% 58% 1.Junior NISA accounts are not included from the figure at the end of June 2024. 2.Ratio of cash stocks traded via online service.26

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Investment Management related data (1) Net revenue and income (loss) before income taxes (bill Asset under management by company1 (tril 1. From June 2024, assets under management (gross) of Nomura Asset Management and Group company overlap assets decreased similarly due to the reorganization in the Americas made on April 1, 2024. 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 investments related to assets under management of asset management companies under Investment Management Division. 3.Net after deducting duplications from assets under management (gross).27

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Investment Management related data (2) Asset inflows/outflows by business1 (billions of yen) FY2022/23 FY2023/24 FY2023/24 FY2024/25 1Q2Q3Q4Q1Q Investment trusts business1561,845649475-60780695 of which ETFs -25047342266-131296145 Investment advisory and international -916 businesses 1,915 1,064 118 385 347 256 Total net asset inflow -7603,7601,7135933261,128951 Domestic public investment trust market and Nomura Asset Management market share2 (trillions of yen)FY2022/23 MarFY2023/24 MarFY2023/24 Jun Sep Dec MarFY2024/25 Jun Domestic public investment trusts Market166.2227.0187.5189.1196.9227.0237.4 Nom ura As s et Managem ent s hare (%)27%26%27%27%26%26%26% Domestic public stock investment trusts Market152.2211.0171.7173.4181.3211.0221.6 Nom ura As s et Managem ent s hare (%)25%25%25%25%25%25%24% Domestic public bond investment trusts Market13.916.015.815.715.616.015.8 Nom ura As s et Managem ent s hare (%)44%44%43%43%44%44%44% ETF Market63.389.672.873.174.989.689.6 Nom ura As s et Managem ent s hare (%)44%43%44%43%43%43%44% 1.Based on assets under management (net).2.Source: Investment Trusts Association, Japan.28

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Wholesale related data Net revenue and income (loss) before income taxes (billions of yen) FY2022/23 FY2023/24 FY2023/24FY2024/25 QoQ YoY 1Q2Q3Q4Q1Q Net revenue772.4866.1190.9204.1217.0254.2244.8-3.7%28.3% Non-interest expenses743.0812.2188.7195.8194.0233.6223.7-4.2%18.5% Income (loss) before income taxes29.453.92.18.323.020.621.12.6%10.1x Breakdown of Wholesale revenue (billions of yen) FY2022/23 FY2023/24FY2023/24 1Q 2Q 3Q 4QFY2024/25 1Q QoQ YoY Fixed Income402.4420.397.496.9103.5122.6125.62.5%29.0% Equities253.9286.863.073.868.281.982.00.2%30.2% Global Markets656.3707.1160.4170.7171.6204.4207.71.6%29.5% Investment Banking116.1159.030.533.445.449.837.2-25.3%22.0% Net revenue772.4866.1190.9204.1217.0254.2244.8-3.7%28.3% 29

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Number of employees Japan Europe FY2022/23 Mar FY2023/24 MarFY2023/24 Jun Sep Dec MarFY2024/25 Jun 15,131 14,870 15,382 15,158 14,996 14,870 15,215 2,937 3,053 2,971 2,993 3,015 3,053 3,057 Americas 2,387 2,440 2,426 2,486 2,458 2,440 2,450 Asia and Oceania1 6,320 6,487 6,465 6,492 6,449 6,487 6,622 Total 26,775 26,850 27,244 27,129 26,918 26,850 27,344 1.Includes Powai office in India.30

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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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Nomura Holdings, Inc. www.nomura.com

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