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 2014

NOMURA HOLDINGS, INC.

(Translation of registrant’s name into English)

9-1, 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.    Nomura Announces Correction to Financial Statements

The registrant hereby incorporates Exhibit 1 to this report on Form 6-K by reference in the prospectus that is part of Registration Statement on Form F-3 (Registration No. 333-191250) of the registrant and Nomura America Finance, LLC, filed with the Securities and Exchange Commission (the “SEC”) on September 19, 2013.

EXPLANATORY NOTE: The registrant furnished to the SEC a report on Form 6-K on October 29, 2013 and a report on Form 6-K/A on May 30, 2014, amending the report on Form 6-K furnished on October 29, 2013. The registrant is furnishing this Form 6-K in order to show the amendments to certain data for the six months ended September 30, 2013 and certain quarterly comparatives data shown in Exhibit 1 “Financial Summary – Six months ended September 30, 2013”, furnished on Form 6-K on October 29, 2013, as reflected in Exhibit 1 to the report on Form 6-K/A furnished on May 30, 2014 and shown in Exhibit 1 to this report. Such amendments to certain data have been made to correct a mistake in the calculation of the number of shares of Nomura Holdings, Inc. common stock held as treasury stock.

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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 30, 2014     By:  

/s/ Hajime Ikeda

      Hajime Ikeda
      Managing Director

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LOGO

Nomura Announces Correction to Financial Statements

Tokyo, May 30, 2014—Nomura Holdings, Inc. today announced corrections to the document issued on October 29, 2013, titled “Financial Highlights — Six months ended September 2013” as underlined below. The impact of the corrections on Nomura’s consolidated financial results is negligible.

Corrections

1. Consolidated Operating Results for the six months ended September 30, 2013

2. Quarterly Consolidated financial statements

(1) Consolidated Balance Sheets (UNAUDITED) (Page 6 and 7)

(2) Consolidated Statements of Income (UNAUDITED) (Page 8)

(3) Consolidated Statement of Comprehensive Income (UNAUDITED) (Page 9)

(5) Segment Information — Operating Segment (UNAUDITED) (Page 10)

(6) Significant Changes in Equity (UNAUDITED) (Page 11)

3. Supplementary Information

(1) Consolidated statements of income — quarterly comparatives (UNAUDITED) (Page 12)

(2) Business segment information — quarterly comparatives (UNAUDITED) (Page 13)

Details of the corrections are underlined in the attachment below.

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Attachment

1. Consolidated Operating Results

Original

 

(1) Operating Results    For the six months ended September 30  
     2012     2013  
     (Millions of yen, except per share data)  
     % Change from     % Change from  
     September 30, 2011     September 30, 2012  

Total revenue

      900,819        11.9 %      933,650         3.6 % 

Net revenue

      770,933        22.0 %      787,712         2.2 % 

Income before income taxes

      55,083        —   %      186,153         238.0 % 

Net income attributable to

Nomura Holdings, Inc. (“NHI”) shareholders

      4,700        —   %      104,007         —   % 

Comprehensive income (loss)

      (8,016 )      —   %      134,205         —   % 
(2) Financial Position    At March 31     At September 30  
     2013     2013  
     (Millions of yen, except per share data)  

Total assets

        37,942,439           41,868,413   

Total equity

        2,318,983           2,411,306   

Total NHI shareholders’ equity

        2,294,371           2,379,189   

Total NHI shareholders’ equity as a percentage of total assets

        6.0 %         5.7 % 

Total NHI shareholders’ equity per share (Yen)

        618.27           641.90   

Notes

          
(4) Number of shares issued (common stock)                          
     At March 31     At September 30  
     2013     2013  

Number of shares outstanding (including treasury stock)

        3,822,562,601           3,822,562,601   

Number of treasury stock

        111,602,349           116,077,880   
     For the six months ended September 30  
     2012     2013  

Average number of shares outstanding (year-to-date)

        3,682,504,520           3,705,701,979   

Table of Contents

Corrected

 

(1) Operating Results    For the six months ended September 30  
     2012     2013  
     (Millions of yen, except per share data)  
     % Change from     % Change from  
     September 30, 2011     September 30, 2012  

Total revenue

      900,819        11.9 %      933,649         3.6 % 

Net revenue

      770,933        22.0 %      787,711         2.2 % 

Income before income taxes

      55,083        —   %      186,152         237.9 % 

Net income attributable to

      4,700        —   %      104,006         —   % 

Nomura Holdings, Inc. (“NHI”) shareholders

          

Comprehensive income (loss)

      (8,016 )      —   %      134,204         —   % 
(2) Financial Position    At March 31     At September 30  
     2013     2013  
     (Millions of yen, except per share data)  

Total assets

        37,942,439           41,868,409   

Total equity

        2,318,983           2,411,302   

Total NHI shareholders’ equity

        2,294,371           2,379,185   

Total NHI shareholders’ equity as a percentage of total assets

        6.0 %         5.7 % 

Total NHI shareholders’ equity per share (Yen)

        618.27           641.90   

Notes

(4) Number of shares issued (common stock)

                          
     At March 31     At September 30  
     2013     2013  

Number of shares outstanding (including treasury stock)

        3,822,562,601           3,822,562,601   

Number of treasury stock

        111,602,349           116,082,580   
     For the six months ended September 30  
     2012     2013  

Average number of shares outstanding (year-to-date)

        3,682,504,520           3,705,694,494   

Table of Contents

2. Quarterly Consolidated Financial Statements

(1) Consolidated Balance Sheets (UNAUDITED) (Page 6 and 7)

Original

 

     Millions of yen  
     March 31,
2013		     September 30,
2013		     Increase/
(Decrease)		  
ASSETS       

Cash and cash deposits:

       

Cash and cash equivalents

      805,087        1,298,043        492,956   

Time deposits

      577,921        468,495        (109,426 ) 

Deposits with stock exchanges and other segregated cash

      269,744        384,480        114,736   
  

 

 

    

 

 

    

 

 

  

Total cash and cash deposits

      1,652,752        2,151,018        498,266   
  

 

 

    

 

 

    

 

 

  

Loans and receivables:

       

Loans receivable

      1,575,494        1,303,655        (271,839 ) 

Receivables from customers

      63,792        52,097        (11,695 ) 

Receivables from other than customers

      992,847        1,506,426        513,579   

Allowance for doubtful accounts

      (2,258 )      (3,205 )      (947 ) 
  

 

 

    

 

 

    

 

 

  

Total loans and receivables

      2,629,875        2,858,973        229,098   
  

 

 

    

 

 

    

 

 

  

Collateralized agreements:

       

Securities purchased under agreements to resell

      8,295,372        9,552,516        1,257,144   

Securities borrowed

      5,819,885        6,376,335        556,450   
  

 

 

    

 

 

    

 

 

  

Total collateralized agreements

      14,115,257        15,928,851        1,813,594   
  

 

 

    

 

 

    

 

 

  

Trading assets and private equity investments:

       

Trading assets*

      17,037,191        18,332,966        1,295,775   

Private equity investments

      87,158        84,169        (2,989 ) 
  

 

 

    

 

 

    

 

 

  

Total trading assets and private equity investments

      17,124,349        18,417,135        1,292,786   
  

 

 

    

 

 

    

 

 

  

Other assets:

       

Office buildings, land, equipment and facilities

(net of accumulated depreciation and amortization of

        ¥355,831 million as of March 31, 2013 and

        ¥373,140 million as of September 30, 2013)

      428,241        421,042        (7,199 ) 

Non-trading debt securities*

      920,611        1,003,495        82,884   

Investments in equity securities*

      123,490        135,736        12,246   

Investments in and advances to affiliated companies*

      345,705        360,348        14,643   

Other

      602,159        591,815        (10,344 ) 
  

 

 

    

 

 

    

 

 

  

Total other assets

      2,420,206        2,512,436        92,230   
  

 

 

    

 

 

    

 

 

  

Total assets

      37,942,439        41,868,413        3,925,974   
  

 

 

    

 

 

    

 

 

  

 

* Including securities pledged as collateral

Table of Contents
     Millions of yen  
     March 31,
2013		     September 30,
2013		     Increase/
(Decrease)		  
LIABILITIES AND EQUITY       

Short-term borrowings

      738,445        800,966        62,521   

Payables and deposits:

       

Payables to customers

      476,705        579,148        102,443   

Payables to other than customers

      864,962        1,154,251        289,289   

Deposits received at banks

      1,072,134        1,106,042        33,908   
      

 

 

    

 

 

    

 

 

  

Total payables and deposits

      2,413,801        2,839,441        425,640   
      

 

 

    

 

 

    

 

 

  

Collateralized financing:

       

Securities sold under agreements to repurchase

      12,444,317        14,074,602        1,630,285   

Securities loaned

      2,158,559        2,431,554        272,995   

Other secured borrowings

      806,507        818,239        11,732   
      

 

 

    

 

 

    

 

 

  

Total collateralized financing

      15,409,383        17,324,395        1,915,012   
      

 

 

    

 

 

    

 

 

  

Trading liabilities

      8,491,296        9,870,444        1,379,148   

Other liabilities

      978,163        984,102        5,939   

Long-term borrowings

      7,592,368        7,637,759        45,391   
      

 

 

    

 

 

    

 

 

  

Total liabilities

      35,623,456        39,457,107        3,833,651   
      

 

 

    

 

 

    

 

 

  

Equity

       

NHI shareholders’ equity:

       

Common stock

       

Authorized

   -   6,000,000,000 shares       

Issued

   -  

3,822,562,601 shares as of March 31, 2013 and

3,822,562,601 shares as of September 30, 2013

       

Outstanding

   -  

3,710,960,252 shares as of March 31, 2013 and

3,706,484,721 shares as of September 30, 2013

      594,493        594,493        —     

Additional paid-in capital

      691,264        682,048        (9,216 ) 

Retained earnings

      1,136,523        1,210,878        74,355   

Accumulated other comprehensive income (loss)

      (57,395 )      (28,579 )      28,816   
      

 

 

    

 

 

    

 

 

  

Total NHI shareholders’ equity before treasury stock

      2,364,885        2,458,840        93,955   

Common stock held in treasury, at cost -

       
   

111,602,349 shares as of March 31, 2013 and

116,077,880 shares as of September 30, 2013

      (70,514 )      (79,651 )      (9,137 ) 
      

 

 

    

 

 

    

 

 

  

Total NHI shareholders’ equity

      2,294,371        2,379,189        84,818   
      

 

 

    

 

 

    

 

 

  

Noncontrolling interests

      24,612        32,117        7,505   
      

 

 

    

 

 

    

 

 

  

Total equity

      2,318,983        2,411,306        92,323   
      

 

 

    

 

 

    

 

 

  

Total liabilities and equity

      37,942,439        41,868,413        3,925,974   
      

 

 

    

 

 

    

 

 

  

Table of Contents

Corrected

 

     Millions of yen  
      March 31,
2013		     September 30,
2013		     Increase/
(Decrease)		  
ASSETS       

Cash and cash deposits:

       

Cash and cash equivalents

      805,087        1,298,043        492,956   

Time deposits

      577,921        468,495        (109,426 ) 

Deposits with stock exchanges and other segregated cash

      269,744        384,480        114,736   
  

 

 

    

 

 

    

 

 

  

Total cash and cash deposits

      1,652,752        2,151,018        498,266   
  

 

 

    

 

 

    

 

 

  

Loans and receivables:

       

Loans receivable

      1,575,494        1,303,655        (271,839 ) 

Receivables from customers

      63,792        52,097        (11,695 ) 

Receivables from other than customers

      992,847        1,506,426        513,579   

Allowance for doubtful accounts

      (2,258 )      (3,205 )      (947 ) 
  

 

 

    

 

 

    

 

 

  

Total loans and receivables

      2,629,875        2,858,973        229,098   
  

 

 

    

 

 

    

 

 

  

Collateralized agreements:

       

Securities purchased under agreements to resell

      8,295,372        9,552,516        1,257,144   

Securities borrowed

      5,819,885        6,376,335        556,450   
  

 

 

    

 

 

    

 

 

  

Total collateralized agreements

      14,115,257        15,928,851        1,813,594   
  

 

 

    

 

 

    

 

 

  

Trading assets and private equity investments:

       

Trading assets*

      17,037,191        18,332,962        1,295,771   

Private equity investments

      87,158        84,169        (2,989 ) 
  

 

 

    

 

 

    

 

 

  

Total trading assets and private equity investments

      17,124,349        18,417,131        1,292,782   
  

 

 

    

 

 

    

 

 

  

Other assets:

       

Office buildings, land, equipment and facilities

(net of accumulated depreciation and amortization of

        ¥355,831 million as of March 31, 2013 and

        ¥373,140 million as of September 30, 2013)

      428,241        421,042        (7,199 ) 

Non-trading debt securities*

      920,611        1,003,495        82,884   

Investments in equity securities*

      123,490        135,736        12,246   

Investments in and advances to affiliated companies*

      345,705        360,348        14,643   

Other

      602,159        591,815        (10,344 ) 
  

 

 

    

 

 

    

 

 

  

Total other assets

      2,420,206        2,512,436        92,230   
  

 

 

    

 

 

    

 

 

  

Total assets

      37,942,439        41,868,409        3,925,970   
  

 

 

    

 

 

    

 

 

  

 

* Including securities pledged as collateral

Table of Contents
     Millions of yen  
      March 31,
2013		     September 30,
2013		     Increase/
(Decrease)		  
LIABILITIES AND EQUITY       

Short-term borrowings

      738,445        800,966        62,521   

Payables and deposits:

       

Payables to customers

      476,705        579,148        102,443   

Payables to other than customers

      864,962        1,154,251        289,289   

Deposits received at banks

      1,072,134        1,106,042        33,908   
      

 

 

    

 

 

    

 

 

  

Total payables and deposits

      2,413,801        2,839,441        425,640   
      

 

 

    

 

 

    

 

 

  

Collateralized financing:

       

Securities sold under agreements to repurchase

      12,444,317        14,074,602        1,630,285   

Securities loaned

      2,158,559        2,431,554        272,995   

Other secured borrowings

      806,507        818,239        11,732   
      

 

 

    

 

 

    

 

 

  

Total collateralized financing

      15,409,383        17,324,395        1,915,012   
      

 

 

    

 

 

    

 

 

  

Trading liabilities

      8,491,296        9,870,444        1,379,148   

Other liabilities

      978,163        984,102        5,939   

Long-term borrowings

      7,592,368        7,637,759        45,391   
      

 

 

    

 

 

    

 

 

  

Total liabilities

      35,623,456        39,457,107        3,833,651   
      

 

 

    

 

 

    

 

 

  

Equity

       

NHI shareholders’ equity:

       

Common stock

       

Authorized

   -   6,000,000,000 shares       

Issued

  

-

  

3,822,562,601 shares as of March 31, 2013 and

3,822,562,601 shares as of September 30, 2013

       

Outstanding

  

-

  

3,710,960,252 shares as of March 31, 2013 and

3,706,480,021 shares as of September 30, 2013

      594,493        594,493        —     

Additional paid-in capital

      691,264        682,048        (9,216 ) 

Retained earnings

      1,136,523        1,210,877        74,354   

Accumulated other comprehensive income (loss)

      (57,395 )      (28,579 )      28,816   
      

 

 

    

 

 

    

 

 

  

Total NHI shareholders’ equity before treasury stock

      2,364,885        2,458,839        93,954   

Common stock held in treasury, at cost -

       
   

111,602,349 shares as of March 31, 2013 and

116,082,580 shares as of September 30, 2013

      (70,514 )      (79,654 )      (9,140 ) 
      

 

 

    

 

 

    

 

 

  

Total NHI shareholders’ equity

      2,294,371        2,379,185        84,814   
      

 

 

    

 

 

    

 

 

  

Noncontrolling interests

      24,612        32,117        7,505   
      

 

 

    

 

 

    

 

 

  

Total equity

      2,318,983        2,411,302        92,319   
      

 

 

    

 

 

    

 

 

  

Total liabilities and equity

      37,942,439        41,868,409        3,925,970   
      

 

 

    

 

 

    

 

 

  

Table of Contents

(2) Consolidated Statements of Income (UNAUDITED) (Page 8)

Original

 

     Millions of yen      % Change  
     For the six months ended         
     September 30,
2012(A)		     September 30,
2013(B)		      (B-A)/(A)  

Revenue:

        

Commissions

      149,646        263,247         75.9   

Fees from investment banking

      27,514        48,378         75.8   

Asset management and portfolio service fees

      67,224        83,083         23.6   

Net gain on trading

      173,328        238,590         37.7   

Gain (loss) on private equity investments

      (5,088 )      753         —     

Interest and dividends

      196,303        213,416         8.7   

Gain on investments in equity securities

      5,909        12,889         118.1   

Other

      285,983        73,294         (74.4 ) 
  

 

 

    

 

 

     

 

 

  

Total revenue

      900,819        933,650         3.6   

Interest expense

      129,886        145,938         12.4   
  

 

 

    

 

 

     

 

 

  

Net revenue

      770,933        787,712         2.2   
  

 

 

    

 

 

     

 

 

  

Non-interest expenses:

        

Compensation and benefits

      258,269        298,596         15.6   

Commissions and floor brokerage

      43,882        55,180         25.7   

Information processing and communications

      87,669        94,473         7.8   

Occupancy and related depreciation

      46,250        40,614         (12.2 ) 

Business development expenses

      22,502        17,332         (23.0 ) 

Other

      257,278        95,364         (62.9 ) 
  

 

 

    

 

 

     

 

 

  

Total non-interest expenses

      715,850        601,559         (16.0 ) 
  

 

 

    

 

 

     

 

 

  

Income before income taxes

      55,083        186,153         238.0   

Income tax expense

      43,646        81,505         86.7   
  

 

 

    

 

 

     

 

 

  

Net income

      11,437        104,648         815.0   
  

 

 

    

 

 

     

 

 

  

Less: Net income attributable to noncontrolling interests

      6,737        641         (90.5 ) 
  

 

 

    

 

 

     

 

 

  

Net income attributable to NHI shareholders

      4,700        104,007         —     
  

 

 

    

 

 

     

 

 

  

Per share of common stock:

        
     Yen      % Change  

Basic-

        

Net income attributable to NHI shareholders per share

      1.28        28.07         —     
  

 

 

    

 

 

     

 

 

  

Diluted-

        

Net income attributable to NHI shareholders per share

      1.25        27.20         —     
  

 

 

    

 

 

     

 

 

  

Table of Contents

Corrected

 

     Millions of yen      % Change  
     For the six months ended         
     September 30,
2012(A)		     September 30,
2013(B)		      (B-A)/(A)  

Revenue:

        

Commissions

      149,646        263,247         75.9   

Fees from investment banking

      27,514        48,378         75.8   

Asset management and portfolio service fees

      67,224        83,083         23.6   

Net gain on trading

      173,328        238,589         37.7   

Gain (loss) on private equity investments

      (5,088 )      753         —     

Interest and dividends

      196,303        213,416         8.7   

Gain on investments in equity securities

      5,909        12,889         118.1   

Other

      285,983        73,294         (74.4 ) 
  

 

 

    

 

 

     

 

 

  

Total revenue

      900,819        933,649         3.6   

Interest expense

      129,886        145,938         12.4   
  

 

 

    

 

 

     

 

 

  

Net revenue

      770,933        787,711         2.2   
  

 

 

    

 

 

     

 

 

  

Non-interest expenses:

        

Compensation and benefits

      258,269        298,596         15.6   

Commissions and floor brokerage

      43,882        55,180         25.7   

Information processing and communications

      87,669        94,473         7.8   

Occupancy and related depreciation

      46,250        40,614         (12.2 ) 

Business development expenses

      22,502        17,332         (23.0 ) 

Other

      257,278        95,364         (62.9 ) 
  

 

 

    

 

 

     

 

 

  

Total non-interest expenses

      715,850        601,559         (16.0 ) 
  

 

 

    

 

 

     

 

 

  

Income before income taxes

      55,083        186,152         237.9   

Income tax expense

      43,646        81,505         86.7   
  

 

 

    

 

 

     

 

 

  

Net income

      11,437        104,647         815.0   
  

 

 

    

 

 

     

 

 

  

Less: Net income attributable to noncontrolling interests

      6,737        641         (90.5 ) 
  

 

 

    

 

 

     

 

 

  

Net income attributable to NHI shareholders

      4,700        104,006         —     
  

 

 

    

 

 

     

 

 

  

Per share of common stock:

        
     Yen      % Change  

Basic-

        

Net income attributable to NHI shareholders per share

      1.28        28.07         —     
  

 

 

    

 

 

     

 

 

  

Diluted-

        

Net income attributable to NHI shareholders per share

      1.25        27.20         —     
  

 

 

    

 

 

     

 

 

  

Table of Contents

(3) Consolidated Statement of Comprehensive Income (UNAUDITED) (Page 9)

Original

 

     Millions of yen     % Change  
     For the six months ended        
     September 30,
2012(A)		     September 30,
2013(B)		     (B-A)/(A)  

Net income

      11,437        104,648        815.0   

Other comprehensive income (loss):

       

Change in cumulative translation adjustments, net of tax

      (21,343 )      27,431        —     

Defined benefit pension plans:

       

Pension liability adjustment

      4,062        2,005        (50.6 ) 

Deferred income taxes

      (1,123 )      (703 )      —     
  

 

 

    

 

 

    

 

 

  

Total

      2,939        1,302        (55.7 ) 
  

 

 

    

 

 

    

 

 

  

Non-trading securities:

       

Net unrealized gain (loss) on non-trading securities

      (1,032 )      1,469        —     

Deferred income taxes

      (17 )      (645 )      —     
  

 

 

    

 

 

    

 

 

  

Total

      (1,049 )      824        —     
  

 

 

    

 

 

    

 

 

  

Total other comprehensive income (loss)

      (19,453 )      29,557        —     
  

 

 

    

 

 

    

 

 

  

Comprehensive income (loss)

      (8,016 )      134,205        —     

Less: Comprehensive income attributable to NHI shareholders

      5,997        1,382        (77.0 ) 
  

 

 

    

 

 

    

 

 

  

Comprehensive income (loss) attributable to NHI shareholders

      (14,013 )      132,823        —     
  

 

 

    

 

 

    

 

 

  

Table of Contents

Corrected

 

     Millions of yen     % Change  
     For the six months ended        
     September 30,
2012(A)		     September 30,
2013(B)		     (B-A)/(A)  

Net income

      11,437        104,647        815.0   

Other comprehensive income (loss):

       

Change in cumulative translation adjustments, net of tax

      (21,343 )      27,431        —     

Defined benefit pension plans:

       

Pension liability adjustment

      4,062        2,005        (50.6 ) 

Deferred income taxes

      (1,123 )      (703 )      —     
  

 

 

    

 

 

    

 

 

  

Total

      2,939        1,302        (55.7 ) 
  

 

 

    

 

 

    

 

 

  

Non-trading securities:

       

Net unrealized gain (loss) on non-trading securities

      (1,032 )      1,469        —     

Deferred income taxes

      (17 )      (645 )      —     
  

 

 

    

 

 

    

 

 

  

Total

      (1,049 )      824        —     
  

 

 

    

 

 

    

 

 

  

Total other comprehensive income (loss)

      (19,453 )      29,557        —     
  

 

 

    

 

 

    

 

 

  

Comprehensive income (loss)

      (8,016 )      134,204        —     

Less: Comprehensive income attributable to noncontrolling interests

      5,997        1,382        (77.0 ) 
  

 

 

    

 

 

    

 

 

  

Comprehensive income (loss) attributable to NHI shareholders

      (14,013 )      132,822        —     
  

 

 

    

 

 

    

 

 

  

Table of Contents

(5) Segment Information — Operating Segment (UNAUDITED) (Page 10)

Original

 

     Millions of yen     % Change  
     For the six months ended        
     September 30,
2012 (A)		     September 30,
2013 (B)		     (B-A)/(A)

 

  

Net revenue

       

Business segment information:

       

Retail

      163,497        286,072        75.0   

Asset Management

      31,857        38,800        21.8   

Wholesale

      258,977        377,958        45.9   
  

 

 

    

 

 

    

 

 

  

Subtotal

      454,331        702,830        54.7   

Other

      310,570        72,681        (76.6 ) 
  

 

 

    

 

 

    

 

 

  

Net revenue

      764,901        775,511        1.4   
  

 

 

    

 

 

    

 

 

  

Reconciliation items:

       

Unrealized gain (loss) on investments in equity securities held for operating purposes

      6,032        12,201        102.3   
  

 

 

    

 

 

    

 

 

  

Net revenue

      770,933        787,712        2.2   
  

 

 

    

 

 

    

 

 

  

Non-interest expenses

       

Business segment information:

       

Retail

      140,347        165,011        17.6   

Asset Management

      21,927        25,937        18.3   

Wholesale

      267,335        327,435        22.5   
  

 

 

    

 

 

    

 

 

  

Subtotal

      429,609        518,383        20.7   

Other

      286,241        83,176        (70.9 ) 
  

 

 

    

 

 

    

 

 

  

Non-interest expenses

      715,850        601,559        (16.0 ) 
  

 

 

    

 

 

    

 

 

  

Reconciliation items:

       

Unrealized gain (loss) on investments in equity securities held for operating purposes

      —          —          —     
  

 

 

    

 

 

    

 

 

  

Non-interest expenses

      715,850        601,559        (16.0 ) 
  

 

 

    

 

 

    

 

 

  

Income (loss) before income taxes

       

Business segment information:

       

Retail

      23,150        121,061        422.9   

Asset Management

      9,930        12,863        29.5   

Wholesale

      (8,358 )      50,523        —     
  

 

 

    

 

 

    

 

 

  

Subtotal

      24,722        184,447        646.1   

Other *

      24,329        (10,495 )      —     
  

 

 

    

 

 

    

 

 

  

Income (loss) before income taxes

      49,051        173,952        254.6   
  

 

 

    

 

 

    

 

 

  

Reconciliation items:

       

Unrealized gain (loss) on investments in equity securities held for operating purposes

      6,032        12,201        102.3   
  

 

 

    

 

 

    

 

 

  

Income (loss) before income taxes

      55,083        186,153        238.0   
  

 

 

    

 

 

    

 

 

  

*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 six months ended     (B-A)/(A)  
     September 30,
2012 (A)		     September 30,
2013 (B)		    

Net gain (loss) related to economic hedging transactions

      (267 )      5,706        —     

Realized gain (loss) on investments in equity securities held for operating purposes

      (123 )      688        —     

Equity in earnings of affiliates

      4,619        14,227        208.0   

Corporate items

      (420 )      (21,045 )      —     

Other

      20,520        (10,071 )      —     
  

 

 

    

 

 

    

 

 

  

Total

      24,329        (10,495 )      —     
  

 

 

    

 

 

    

 

 

  

Table of Contents

Corrected

 

     Millions of yen     % Change  
     For the six months ended        
     September 30,
2012 (A)		     September 30,
2013 (B)		     (B-A)/(A)  

Net revenue

       

Business segment information:

       

Retail

      163,497        286,072        75.0   

Asset Management

      31,857        38,800        21.8   

Wholesale

      258,977        377,957        45.9   
  

 

 

    

 

 

    

 

 

  

Subtotal

      454,331        702,829        54.7   

Other

      310,570        72,681        (76.6 ) 
  

 

 

    

 

 

    

 

 

  

Net revenue

      764,901        775,510        1.4   
  

 

 

    

 

 

    

 

 

  

Reconciliation items:

       

Unrealized gain (loss) on investments in equity securities held for operating purposes

      6,032        12,201        102.3   
  

 

 

    

 

 

    

 

 

  

Net revenue

      770,933        787,711        2.2   
  

 

 

    

 

 

    

 

 

  

Non-interest expenses

       

Business segment information:

       

Retail

      140,347        165,011        17.6   

Asset Management

      21,927        25,937        18.3   

Wholesale

      267,335        327,435        22.5   
  

 

 

    

 

 

    

 

 

  

Subtotal

      429,609        518,383        20.7   

Other

      286,241        83,176        (70.9 ) 
  

 

 

    

 

 

    

 

 

  

Non-interest expenses

      715,850        601,559        (16.0 ) 
  

 

 

    

 

 

    

 

 

  

Reconciliation items:

       

Unrealized gain (loss) on investments in equity securities held for operating purposes

      —          —          —     
  

 

 

    

 

 

    

 

 

  

Non-interest expenses

      715,850        601,559        (16.0 ) 
  

 

 

    

 

 

    

 

 

  

Income (loss) before income taxes

       

Business segment information:

       

Retail

      23,150        121,061        422.9   

Asset Management

      9,930        12,863        29.5   

Wholesale

      (8,358 )      50,522        —     
  

 

 

    

 

 

    

 

 

  

Subtotal

      24,722        184,446        646.1   

Other *

      24,329        (10,495 )      —     
  

 

 

    

 

 

    

 

 

  

Income (loss) before income taxes

      49,051        173,951        254.6   
  

 

 

    

 

 

    

 

 

  

Reconciliation items:

       

Unrealized gain (loss) on investments in equity securities held for operating purposes

      6,032        12,201        102.3   
  

 

 

    

 

 

    

 

 

  

Income (loss) before income taxes

      55,083        186,152        237.9   
  

 

 

    

 

 

    

 

 

  

*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 six months ended     (B-A)/(A)  
     September 30,
2012 (A)		     September 30,
2013 (B)		    

Net gain (loss) related to economic hedging transactions

      (267 )      5,706        —     

Realized gain (loss) on investments in equity securities held for operating purposes

      (123 )      688        —     

Equity in earnings of affiliates

      4,619        14,227        208.0   

Corporate items

      (420 )      (21,045 )      —     

Other

      20,520        (10,071 )      —     
  

 

 

    

 

 

    

 

 

  

Total

      24,329        (10,495 )      —     
  

 

 

    

 

 

    

 

 

  

Table of Contents

(6) Significant Changes in Equity (UNAUDITED) (Page 11)

Original

 

     Millions of yen  
     For the six months ended
September 30, 2013		  

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

      691,264   

Gain (loss) on sales of treasury stock

      (5,439 ) 

Issuance and exercise of common stock options

      (3,777 ) 
  

 

 

  

Balance at end of period

      682,048   
  

 

 

  

Retained earnings

   

Balance at beginning of year

      1,136,523   

Net income attributable to NHI shareholders

      104,007   

Cash dividends

      (29,652 ) 
  

 

 

  

Balance at end of period

      1,210,878   
  

 

 

  

Accumulated other comprehensive income (loss)
Cumulative translation adjustments

   

Balance at beginning of year

      (38,875 ) 

Net change during the period

      26,902   
  

 

 

  

Balance at end of period

      (11,973 ) 
  

 

 

  

Defined benefit pension plans

   

Balance at beginning of year

      (28,518 ) 

Pension liability adjustment

      1,302   
  

 

 

  

Balance at end of period

      (27,216 ) 
  

 

 

  

Non-trading securities

   

Balance at beginning of year

      9,998   

Net unrealized gain on non-trading securities

      612   
  

 

 

  

Balance at end of period

      10,610   
  

 

 

  

Balance at end of period

      (28,579 ) 
  

 

 

  

Common stock held in treasury

   

Balance at beginning of year

      (70,514 ) 

Repurchases of common stock

      (32,482 ) 

Sale of common stock

      0   

Common stock issued to employees

      22,662   

Other net change in treasury stock

      683   
  

 

 

  

Balance at end of period

      (79,651 ) 
  

 

 

  

Total NHI shareholders’ equity

   

Balance at end of period

      2,379,189   
  

 

 

  

Noncontrolling interests

   

Balance at beginning of year

      24,612   

Net change during the period

      7,505   
  

 

 

  

Balance at end of period

      32,117   
  

 

 

  

Total equity

   
  

 

 

  

Balance at end of period

      2,411,306   
  

 

 

  

Table of Contents

Corrected

 

     Millions of yen  
     For the six months ended
September 30, 2013		  

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

      691,264   

Gain (loss) on sales of treasury stock

      (5,439 ) 

Issuance and exercise of common stock options

      (3,777 ) 
  

 

 

  

Balance at end of period

      682,048   
  

 

 

  

Retained earnings

   

Balance at beginning of year

      1,136,523   

Net income attributable to NHI shareholders

      104,006   

Cash dividends

      (29,652 ) 
  

 

 

  

Balance at end of period

      1,210,877   
  

 

 

  

Accumulated other comprehensive income (loss)
Cumulative translation adjustments

   

Balance at beginning of year

      (38,875 ) 

Net change during the period

      26,902   
  

 

 

  

Balance at end of period

      (11,973 ) 
  

 

 

  

Defined benefit pension plans

   

Balance at beginning of year

      (28,518 ) 

Pension liability adjustment

      1,302   
  

 

 

  

Balance at end of period

      (27,216 ) 
  

 

 

  

Non-trading securities

   

Balance at beginning of year

      9,998   

Net unrealized gain on non-trading securities

      612   
  

 

 

  

Balance at end of period

      10,610   
  

 

 

  

Balance at end of period

      (28,579 ) 
  

 

 

  

Common stock held in treasury

   

Balance at beginning of year

      (70,514 ) 

Repurchases of common stock

      (32,493 ) 

Sale of common stock

      8   

Common stock issued to employees

      22,662   

Other net change in treasury stock

      683   
  

 

 

  

Balance at end of period

      (79,654 ) 
  

 

 

  

Total NHI shareholders’ equity

   
  

 

 

  

Balance at end of period

      2,379,185   
  

 

 

  

Noncontrolling interests

   

Balance at beginning of year

      24,612   

Net change during the period

      7,505   
  

 

 

  

Balance at end of period

      32,117   
  

 

 

  

Total equity

   
  

 

 

  

Balance at end of period

      2,411,302   
  

 

 

  

Table of Contents

Original

 

3. Supplementary Information

 

(1) Consolidated Statements of Income – Quarterly Comparatives (UNAUDITED)

 

    Millions of yen     % Change  
    For the three months ended        
    June 30,
2012		     September 30,
2012		     December 31,
2012		     March 31,
2013		     June 30,
2013(A)		     September 30,
2013(B)		     (B-A)/(A)  

Revenue:

              

Commissions

     77,367        72,279        83,681        125,742        157,634        105,613        (33.0 ) 

Fees from investment banking

     10,383        17,131        13,027        21,812        25,394        22,984        (9.5 ) 

Asset management and portfolio service fees

     33,813        33,411        35,017        38,788        42,381        40,702        (4.0 ) 

Net gain on trading

     84,399        88,929        88,188        106,463        128,409        110,181        (14.2 ) 

Gain (loss) on private equity investments

     (5,387 )      299        11,631        1,510        50        703        —     

Interest and dividends

     103,469        92,834        99,745        97,959        115,325        98,091        (14.9 ) 

Gain (loss) on investments in equity securities

     (7,061 )      12,970        8,858        23,919        7,852        5,037        (35.9 ) 

Other

     142,610        143,373        118,834        303,950        28,225        45,069        59.7   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total revenue

     439,593        461,226        458,981        720,143        505,270        428,380        (15.2 ) 

Interest expense

     70,339        59,547        69,895        66,531        73,949        71,989        (2.7 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net revenue

     369,254        401,679        389,086        653,612        431,321        356,391        (17.4 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Non-interest expenses:

              

Compensation and benefits

     124,573        133,696        134,698        154,624        163,205        135,391        (17.0 ) 

Commissions and floor brokerage

     21,978        21,904        22,918        24,588        29,046        26,134        (10.0 ) 

Information processing and communications

     42,524        45,145        42,672        49,563        48,233        46,240        (4.1 ) 

Occupancy and related depreciation

     24,110        22,140        22,179        23,116        19,784        20,830        5.3   

Business development expenses

     11,329        11,173        12,051        14,457        7,859        9,473        20.5   

Other

     125,074        132,204        141,603        217,582        49,975        45,389        (9.2 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total non-interest expenses

     349,588        366,262        376,121        483,930        318,102        283,457        (10.9 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Income before income taxes

     19,666        35,417        12,965        169,682        113,219        72,934        (35.6 ) 

Income tax expense

     13,590        30,056        12,874        75,519        46,956        34,549        (26.4 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net income

     6,076        5,361        91        94,163        66,263        38,385        (42.1 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Less: Net income (loss) attributable to noncontrolling interests

     4,185        2,552        (20,021 )      11,741        369        272        (26.3 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net income attributable to NHI shareholders

     1,891        2,809        20,112        82,422        65,894        38,113        (42.2 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
    Yen     % Change  

Per share of common stock:

              

Basic-

              

Net income attributable to NHI shareholders per share

     0.51        0.76        5.44        22.23        17.78        10.29        (42.1 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Diluted-

              

Net income attributable to NHI shareholders per share

     0.50        0.74        5.33        21.55        17.24        9.99        (42.1 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Table of Contents

Corrected

 

3. Supplementary Information

 

(1) Consolidated Statements of Income – Quarterly Comparatives (UNAUDITED)

 

    Millions of yen     % Change  
    For the three months ended        
    June 30,
2012		     September 30,
2012		     December 31,
2012		     March 31,
2013		     June 30,
2013(A)		     September 30,
2013(B)		     (B-A)/(A)  

Revenue:

              

Commissions

     77,367        72,279        83,681        125,742        157,634        105,613        (33.0 ) 

Fees from investment banking

     10,383        17,131        13,027        21,812        25,394        22,984        (9.5 ) 

Asset management and portfolio service fees

     33,813        33,411        35,017        38,788        42,381        40,702        (4.0 ) 

Net gain on trading

     84,399        88,929        88,188        106,463        128,409        110,180        (14.2 ) 

Gain (loss) on private equity investments

     (5,387 )      299        11,631        1,510        50        703        —     

Interest and dividends

     103,469        92,834        99,745        97,959        115,325        98,091        (14.9 ) 

Gain (loss) on investments in equity securities

     (7,061 )      12,970        8,858        23,919        7,852        5,037        (35.9 ) 

Other

     142,610        143,373        118,834        303,950        28,225        45,069        59.7   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total revenue

     439,593        461,226        458,981        720,143        505,270        428,379        (15.2 ) 

Interest expense

     70,339        59,547        69,895        66,531        73,949        71,989        (2.7 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net revenue

     369,254        401,679        389,086        653,612        431,321        356,390        (17.4 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Non-interest expenses:

              

Compensation and benefits

     124,573        133,696        134,698        154,624        163,205        135,391        (17.0 ) 

Commissions and floor brokerage

     21,978        21,904        22,918        24,588        29,046        26,134        (10.0 ) 

Information processing and communications

     42,524        45,145        42,672        49,563        48,233        46,240        (4.1 ) 

Occupancy and related depreciation

     24,110        22,140        22,179        23,116        19,784        20,830        5.3   

Business development expenses

     11,329        11,173        12,051        14,457        7,859        9,473        20.5   

Other

     125,074        132,204        141,603        217,582        49,975        45,389        (9.2 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total non-interest expenses

     349,588        366,262        376,121        483,930        318,102        283,457        (10.9 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Income before income taxes

     19,666        35,417        12,965        169,682        113,219        72,933        (35.6 ) 

Income tax expense

     13,590        30,056        12,874        75,519        46,956        34,549        (26.4 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net income

     6,076        5,361        91        94,163        66,263        38,384        (42.1 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Less: Net income (loss) attributable to noncontrolling interests

     4,185        2,552        (20,021 )      11,741        369        272        (26.3 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net income attributable to NHI shareholders

     1,891        2,809        20,112        82,422        65,894        38,112        (42.2 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
    Yen     % Change  

Per share of common stock:

              

Basic-

              

Net income attributable to NHI shareholders per share

     0.51        0.76        5.44        22.23        17.78        10.29        (42.1 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Diluted-

              

Net income attributable to NHI shareholders per share

     0.50        0.74        5.33        21.55        17.24        9.99        (42.1 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Table of Contents

Original

 

(2) Business Segment Information – Quarterly Comparatives (UNAUDITED)

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
March 31,
2013		  
    June 30,
2012		     September 30,
2012		     December 31,
2012		     March 31,
2013		     June 30,
2013(A)		     September 30,
2013(B)		     (B-A)/(A)    

Net revenue

                

Business segment information:

                

Retail

     82,711        80,786        95,679        138,749        166,342        119,730        (28.0 )      397,925   

Asset Management

     16,418        15,439        18,786        18,294        20,174        18,626        (7.7 )      68,937   

Wholesale

     121,883        137,094        188,968        196,911        194,609        183,349        (5.8 )      644,856   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Subtotal

     221,012        233,319        303,433        353,954        381,125        321,705        (15.6 )      1,111,718   

Other

     154,567        156,003        76,753        276,905        43,032        29,649        (31.1 )      664,228   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net revenue

     375,579        389,322        380,186        630,859        424,157        351,354        (17.2 )      1,775,946   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Reconciliation items:

                

Unrealized gain (loss) on investments in equity securities held for operating purposes

     (6,325 )      12,357        8,900        22,753        7,164        5,037       (29.7 )      37,685   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net revenue

     369,254        401,679        389,086        653,612        431,321        356,391        (17.4 )      1,813,631   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Non-interest expenses

                

Business segment information:

                

Retail

     70,523        69,824        75,419        81,531        85,237        79,774        (6.4 )      297,297   

Asset Management

     11,048        10,879        11,468        14,373        13,483        12,454        (7.6 )      47,768   

Wholesale

     130,434        136,901        144,611        161,253        169,372        158,063        (6.7 )      573,199   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Subtotal

     212,005        217,604        231,498        257,157        268,092        250,291        (6.6 )      918,264   

Other

     137,583        148,658        144,623        226,773        50,010        33,166        (33.7 )      657,637   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Non-interest expenses

     349,588        366,262        376,121        483,930        318,102        283,457        (10.9 )      1,575,901   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Reconciliation items:

                

Unrealized gain (loss) on investments in equity securities held for operating purposes

     —          —          —          —          —          —          —          —     
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Non-interest expenses

     349,588        366,262        376,121        483,930        318,102        283,457        (10.9 )      1,575,901   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Income (loss) before income taxes

                

Business segment information:

                

Retail

     12,188        10,962        20,260        57,218        81,105        39,956        (50.7 )      100,628   

Asset Management

     5,370        4,560        7,318        3,921        6,691        6,172        (7.8 )      21,169   

Wholesale

     (8,551 )      193        44,357        35,658        25,237        25,286        0.2        71,657   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Subtotal

     9,007        15,715        71,935        96,797        113,033        71,414        (36.8 )      193,454   

Other*

     16,984        7,345        (67,870 )      50,132        (6,978 )      (3,517 )      —          6,591   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Income (loss) before income taxes

     25,991        23,060        4,065        146,929        106,055        67,897        (36.0 )      200,045   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Reconciliation items:

                

Unrealized gain (loss) on investments in equity securities held for operating purposes

     (6,325 )      12,357        8,900        22,753        7,164        5,037        (29.7 )      37,685   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Income (loss) before income taxes

     19,666       35,417       12,965       169,682       113,219       72,934       (35.6 )     237,730  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

 

* 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,
2013		  
    June 30,
2012		     September 30,
2012		     December 31,
2012		     March 31,
2013		     June 30,
2013(A)		     September 30,
2013(B)		     (B-A)(A)     

Net gain (loss) related to economic hedging transactions

     (1,231 )      964        415        841        7,373        (1,667 )      —           989   

Realized gain (loss) on investments in equity securities held for operating purposes

     (736 )      613        (42 )      1,166        688        0        —           1,001   

Equity in earnings of affiliates

     1,273        3,346        4,549        5,233        5,343        8,884        66.3         14,401   

Corporate items

     6,624        (7,044 )      (14,800 )      32,872        (12,344 )      (8,701 )      —           17,652   

Other

     11,054        9,466        (57,992 )      10,020        (8,038 )      (2,033 )      —           (27,452 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Total

     16,984        7,345        (67,870 )      50,132        (6,978 )      (3,517 )      —           6,591   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Table of Contents

Corrected

(2) Business Segment Information – Quarterly Comparatives (UNAUDITED)

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
March 31,
2013		  
    June 30,
2012		     September 30,
2012		     December 31,
2012		     March 31,
2013		     June 30,
2013(A)		     September 30,
2013(B)		     (B-A)/(A)    

Net revenue

                

Business segment information:

                

Retail

     82,711        80,786        95,679        138,749        166,342        119,730        (28.0 )      397,925   

Asset Management

     16,418        15,439        18,786        18,294        20,174        18,626        (7.7 )      68,937   

Wholesale

     121,883        137,094        188,968        196,911        194,609        183,348        (5.8 )      644,856   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Subtotal

     221,012        233,319        303,433        353,954        381,125        321,704        (15.6 )      1,111,718   

Other

     154,567        156,003        76,753        276,905        43,032        29,649        (31.1 )      664,228   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net revenue

     375,579        389,322        380,186        630,859        424,157        351,353        (17.2 )      1,775,946   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Reconciliation items:

                

Unrealized gain (loss) on investments in equity securities held for operating purposes

     (6,325 )      12,357        8,900        22,753        7,164        5,037       (29.7 )      37,685   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net revenue

     369,254        401,679        389,086        653,612        431,321        356,390        (17.4 )      1,813,631   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Non-interest expenses

                

Business segment information:

                

Retail

     70,523        69,824        75,419        81,531        85,237        79,774        (6.4 )      297,297   

Asset Management

     11,048        10,879        11,468        14,373        13,483        12,454        (7.6 )      47,768   

Wholesale

     130,434        136,901        144,611        161,253        169,372        158,063        (6.7 )      573,199   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Subtotal

     212,005        217,604        231,498        257,157        268,092        250,291        (6.6 )      918,264   

Other

     137,583        148,658        144,623        226,773        50,010        33,166        (33.7 )      657,637   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Non-interest expenses

     349,588        366,262        376,121        483,930        318,102        283,457        (10.9 )      1,575,901   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Reconciliation items:

                

Unrealized gain (loss) on investments in equity securities held for operating purposes

     —          —          —          —          —          —          —          —     
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Non-interest expenses

     349,588        366,262        376,121        483,930        318,102        283,457        (10.9 )      1,575,901   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Income (loss) before income taxes

                

Business segment information:

                

Retail

     12,188        10,962        20,260        57,218        81,105        39,956        (50.7 )      100,628   

Asset Management

     5,370        4,560        7,318        3,921        6,691        6,172        (7.8 )      21,169   

Wholesale

     (8,551 )      193        44,357        35,658        25,237        25,285        0.2        71,657   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Subtotal

     9,007        15,715        71,935        96,797        113,033        71,413        (36.8 )      193,454   

Other*

     16,984        7,345        (67,870 )      50,132        (6,978 )      (3,517 )      —          6,591   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Income (loss) before income taxes

     25,991        23,060        4,065        146,929        106,055        67,896        (36.0 )      200,045   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Reconciliation items:

                

Unrealized gain (loss) on investments in equity securities held for operating purposes

     (6,325 )      12,357        8,900        22,753        7,164        5,037        (29.7 )      37,685   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Income (loss) before income taxes

     19,666       35,417       12,965       169,682       113,219       72,933       (35.6 )     237,730  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

 

* 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,
2013		  
    June 30,
2012		     September 30,
2012		     December 31,
2012		     March 31,
2013		     June 30,
2013(A)		     September 30,
2013(B)		     (B-A)/(A)     

Net gain (loss) related to economic hedging transactions

     (1,231 )      964        415        841        7,373        (1,667 )      —           989   

Realized gain (loss) on investments in equity securities held for operating purposes

     (736 )      613        (42 )      1,166        688        0        —           1,001   

Equity in earnings of affiliates

     1,273        3,346        4,549        5,233        5,343        8,884        66.3         14,401   

Corporate items

     6,624        (7,044 )      (14,800 )      32,872        (12,344 )      (8,701 )      —           17,652   

Other

     11,054        9,466        (57,992 )      10,020        (8,038 )      (2,033 )      —           (27,452 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Total

     16,984        7,345        (67,870 )      50,132        (6,978 )      (3,517 )      —           6,591   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

     

 

 

  

Table of Contents

 

    ends   

 

     

For further information please contact:

 

Name

   

Company

   

Telephone

Joey Wu

    Nomura Holdings, Inc.    81-3-3278-0591

Keiko Sugai

    Group Corporate Communications Dept.   

Nomura

Nomura is an Asia-based financial services group with an integrated global network spanning over 30 countries. By connecting markets East & West, Nomura services the needs of individuals, institutions, corporates and governments through its three business divisions: Retail, Asset Management, and Wholesale (Global Markets and Investment Banking). Founded in 1925, the firm is built on a tradition of disciplined entrepreneurship, serving clients with creative solutions and considered thought leadership. For further information about Nomura, visit www.nomura.com.