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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
Supplement for the month of July 2009.
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):
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- .
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Information furnished on this form:
EXHIBIT
Exhibit Number
| 1. | Financial Highlights – Three months ended June 2009 |
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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: July 29, 2009 |
By: | /s/ Shinichiro Watanabe | ||
| Shinichiro Watanabe | ||||
| Senior Corporate Managing Director | ||||
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NOMURA HOLDINGS, INC.
Financial Highlights –Three months ended June 2009
We are pleased to report the following consolidated financial highlights based on
consolidated financial information under US GAAP for the three months ended June 2009.
| For further information, please contact: |
|
Toshiki Shinjo
Managing Director
Investor Relations Department
Nomura Holdings, Inc.
1-1 Otemachi 2-chome, Chiyoda-ku
Tokyo 100-8170, Japan
TEL: +813-5255-1000 |
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Financial Summary For the Three Months Ended June 30, 2009 (US GAAP)
| Date: | July 29, 2009 | |
| Company name (code number): | Nomura Holdings, Inc. (8604) | |
| Stock exchange listings: | (In Japan) Tokyo, Osaka, Nagoya | |
| (Overseas) New York, Singapore | ||
| Representative: | Kenichi Watanabe | |
| President and Chief Executive Officer, Nomura Holdings, Inc. | ||
| For inquiries: | Toshiki Shinjo | |
| Managing Director, Investor Relations Department, Nomura Holdings, Inc. | ||
| Tel: (Country Code 81) 3-5255-1000 | ||
| URL http://www.nomura.com |
| 1. | Consolidated Operating Results |
| (1) | Operating Results |
| For the three months ended June 30 | ||||||||||||
| 2009 | 2008 | |||||||||||
| (Yen amounts in millions, except per share data) | ||||||||||||
| % Change from June 30, 2008 |
% Change from June 30, 2007 |
|||||||||||
| Total revenue |
363,595 | 41.0 | % | 257,876 | (60.1 | )% | ||||||
| Net revenue |
298,359 | 120.9 | % | 135,087 | (60.8 | )% | ||||||
| Income (loss) before income taxes |
31,421 | — | (84,343 | ) | — | |||||||
| Net income (loss) attributable to Nomura Holdings, Inc. (“NHI”) |
11,420 | — | (76,592 | ) | — | |||||||
| Basic-Net income (loss) attributable to NHI shareholders per share |
4.37 | (40.14 | ) | |||||||||
| Diluted-Net income (loss) attributable to NHI shareholders per share |
1.81 | (40.18 | ) | |||||||||
| Return on shareholders’ equity |
3.0 | % | (15.6 | )% | ||||||||
| Notes: | ||
| 1. | Income (loss) before income taxes is calculated in accordance with Statement of Financial Accounting Standards No. 160 “Noncontrolling Interests in Consolidated Financial Statements” (“SFAS 160”). Previously reported amounts for Income (loss) before income taxes have been reclassified to conform to the current year presentation. | |
| 2. | Net income (loss) attributable to NHI was previously reported as Net income (loss). | |
| 3. | Return on shareholders’ equity is ratio of Net income (loss) attributable to NHI to Total NHI shareholders’ equity. | |
| (2) | Financial Position |
| At June 30 | At March 31 | |||||
| 2009 | 2009 | |||||
| (Yen amounts in millions, except per share data) | ||||||
| Total assets |
27,539,700 | 24,837,848 | ||||
| Total equity |
1,556,464 | 1,551,546 | ||||
| Total NHI shareholders’ equity as a percentage of total assets |
5.6 | % | 6.2 | % | ||
| Shareholders’ equity per share |
589.32 | 590.99 | ||||
| Notes: | ||
| 1. | Certain reclassifications of previously reported amounts have been made to conform to the current year presentation. | |
| 2. | Shareholders’ equity per share is calculated with Total NHI shareholders’ equity. | |
| 2. | Cash dividends |
| For the year ended March 31 | ||||||
| 2009 | 2010 | 2010 (Plan) | ||||
| (Yen amounts) | ||||||
| Dividends per share |
||||||
| At June 30 |
8.50 | — | — | |||
| At September 30 |
8.50 | — | Unconfirmed | |||
| At December 31 |
8.50 | — | — | |||
| At March 31 |
0.00 | — | Unconfirmed | |||
| For the year |
25.50 | — | Unconfirmed | |||
| Notes: | ||
| 1. | Revision of cash dividend forecast during this period : None | |
| 2. | Nomura will forgo dividend distribution for the period ending December 31, 2009. Forecasted dividend amounts for the periods ending September 30 and March 31 are unconfirmed per reasons stated in “3.Earnings forecasts for the year ending March 31, 2010”. | |
| 3. | Earnings forecasts for the year ending March 31, 2010 |
Nomura provides investment, financing and related services in the capital markets on a global basis. In the global capital markets there exist uncertainties due to, but not limited to, economic and market conditions. Nomura, therefore, does not present earnings forecasts.
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| 4. | Other |
| (1) | Significant changes to consolidated subsidiaries during the period : None |
| (2) | Simplified accounting and particular accounting in the elaboration of quarterly consolidated financial statements : None |
| (3) | Changes in accounting basis, procedure and presentation for the quarterly consolidated financial statements |
The items described in “Significant changes for presenting the consolidated financial statements”.
| a) | Changes in accounting principles : Yes |
| b) | Other changes : None |
Note: Please refer to page 8, “Qualitative Information and Financial Statements – 4. Other” for details.
| (4) | Number of shares issued (common stock) |
| At June 30 | At March 31 | |||
| 2009 | 2009 | |||
| Number of shares outstanding (including treasury stock) |
2,674,838,462 | 2,661,092,760 | ||
| Treasury stock |
54,079,208 | 56,312,917 | ||
| For the three months ended June 30 | ||||
| 2009 | 2008 | |||
| Average number of shares outstanding |
2,611,721,313 | 1,908,006,898 | ||
*Notes on appropriate use of earnings forecast and other special remarks
Forecasted dividend amounts for periods ending September 30 and March 31 are not presented per reasons stated in “3. Earnings forecasts for the year ending March 31, 2010”. Also, Nomura will forgo dividend distribution for the period ending December 31, 2009.
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Qualitative Information and Financial Statements
| 1. | Qualitative Discussion of Consolidated Results |
US GAAP
| Billions of yen | % Change | |||||||
| For the three months ended | (A-B)/(B) | |||||||
| June 30, 2009 (A) |
June 30, 2008 (B) |
|||||||
| Net revenue |
298.4 | 135.1 | 120.9 | |||||
| Non-interest expenses |
266.9 | 219.4 | 21.7 | |||||
| Income (loss) before income taxes |
31.4 | (84.3 | ) | — | ||||
| Income tax expense |
20.7 | (7.7 | ) | — | ||||
| Net income (loss) |
10.7 | (76.7 | ) | — | ||||
| Less: Net income (loss) attributable to noncontrolling interests |
(0.7 | ) | (0.1 | ) | — | |||
| Net income (loss) attributable to NHI |
11.4 | (76.6 | ) | — | ||||
| Return on shareholders’ equity * (annualized) |
3.0 | % | (15.6 | %) | — | |||
| * | Return on shareholders’ equity is ratio of Net income (loss) attributable to NHI to Total NHI shareholders’ equity. |
Nomura Holdings, Inc. and its consolidated entities (“Nomura”) reported net revenue of 298.4 billion yen for the three months ended June 30, 2009, an increase of 120.9% from the same period in the prior year. Non-interest expenses increased 21.7% from the same period in the prior year to 266.9 billion yen. Income before income taxes was 31.4 billion yen for the three months ended June 30, 2009. Net income attributable to NHI was 11.4 billion yen for the three months ended June 30, 2009.
Segments Information
| Billions of yen | % Change | ||||||
| For the three months ended | (A-B)/(B) | ||||||
| June 30, 2009 (A) |
June 30, 2008 (B) |
||||||
| Net revenue |
288.6 | 134.4 | 114.7 | ||||
| Non-interest expenses |
266.9 | 219.4 | 21.7 | ||||
| Income (loss) before income taxes |
21.7 | (85.0 | ) | — | |||
In business segment totals, which exclude unrealized gain (loss) on investments in equity securities held for operating purposes, net revenue for the three months ended June 30, 2009 was 288.6 billion yen, an increase of 114.7% from the same period in the prior year. Non-interest expenses increased 21.7% from the same period in the prior year to 266.9 billion yen. Income before income taxes was 21.7 billion yen for the three months ended June 30, 2009. Please refer to page 12 for further details of the differences between US GAAP and business segment amounts.
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<Business Segment Results>
Operating Results of Retail
| Billions of yen | % Change | ||||||
| For the three months ended | (A-B)/(B) | ||||||
| June 30, 2009 (A) |
June 30, 2008 (B) |
||||||
| Net revenue |
95.4 | 85.8 | 11.2 | ||||
| Non-interest expenses |
67.5 | 69.6 | (3.0 | ) | |||
| Income (loss) before income taxes |
27.9 | 16.2 | 72.2 | ||||
Net revenue increased by 11.2% from the same period in the prior year to 95.4 billion yen, due primarily to increasing brokerage commissions and commissions for distribution of investment trusts. Non-interest expenses decreased by 3.0% to 67.5 billion yen. As a result, income before income taxes increased 72.2% to 27.9 billion yen.
Operating Results of Global Markets
| Billions of yen | % Change | ||||||
| For the three months ended | (A-B)/(B) | ||||||
| June 30, 2009 (A) |
June 30, 2008 (B) |
||||||
| Net revenue |
187.1 | 11.0 | — | ||||
| Non-interest expenses |
124.9 | 72.6 | 72.0 | ||||
| Income (loss) before income taxes |
62.3 | (61.6 | ) | — | |||
Net revenue increased to 187.1 billion yen, due primarily to recovering net gain on trading. The acquisition of certain operations of former Lehman Brothers led to increase non-interest expenses by 72.0% from the same period in the prior year to 124.9 billion yen. As a result, income before income taxes was 62.3 billion yen.
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Operating Results of Investment Banking
| Billions of yen | % Change | |||||||
| For the three months ended | ||||||||
| June 30, 2009 (A) |
June 30, 2008 (B) |
(A-B)/(B) | ||||||
| Net revenue |
25.7 | 29.0 | (11.4 | ) | ||||
| Non-interest expenses |
31.1 | 16.4 | 89.5 | |||||
| Income (loss) before income taxes |
(5.4 | ) | 12.6 | — | ||||
Although transaction volume increased in the equity finance reflecting the rally in global stock markets, net revenue decreased by 11.4% from the same period in the prior year to 25.7 billion yen. The acquisition of certain operations of former Lehman Brothers led to increase non-interest expenses by 89.5% to 31.1 billion yen. As a result, loss before income taxes was 5.4 billion yen.
Operating Results of Merchant Banking
| Billions of yen | % Change | |||||||
| For the three months ended | ||||||||
| June 30, 2009 (A) |
June 30, 2008 (B) |
(A-B)/(B) | ||||||
| Net revenue |
(1.1 | ) | (37.0 | ) | — | |||
| Non-interest expenses |
2.5 | 2.4 | 6.0 | |||||
| Income (loss) before income taxes |
(3.6 | ) | (39.4 | ) | — | |||
Net revenue was negative 1.1 billion yen, due primarily to unrealized gains of certain investee companies offset by funding costs. Non-interest expenses were 2.5 billion yen. As a result, loss before income taxes was 3.6 billion yen.
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Operating Results of Asset Management
| Billions of yen | % Change | ||||||
| For the three months ended | |||||||
| June 30, 2009 (A) |
June 30, 2008 (B) |
(A-B)/(B) | |||||
| Net revenue |
18.7 | 21.1 | (11.7 | ) | |||
| Non-interest expenses |
13.5 | 13.0 | 4.3 | ||||
| Income (loss) before income taxes |
5.1 | 8.2 | (37.1 | ) | |||
Net revenue decreased by 11.7% from the same period in the prior year to 18.7 billion yen. Non-interest expenses increased by 4.3% to 13.5 billion yen. As a result, income before income taxes decreased by 37.1% to 5.1 billion yen. Assets under management increased by 2.0 trillion yen from the end of March to 22.2 trillion yen, driven by the market rally and an increase in sales of newly launched funds such as the Nomura US High Yield Bond Fund (Currency Selection Type).
Other Operating Results
| Billions of yen | % Change | ||||||||
| For the three months ended | |||||||||
| June 30, 2009 (A) |
June 30, 2008 (B) |
(A-B)/(B) | |||||||
| Net revenue |
(37.1 | ) | 24.5 | — | |||||
| Non-interest expenses |
27.4 | 45.5 | (39.7 | ) | |||||
| Income (loss) before income taxes |
(64.6 | ) | (20.9 | ) | — | ||||
Net revenue was negative 37.1 billion yen. Loss before income taxes was 64.6 billion yen.
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| 2. | Financial Position |
Total assets as of June 30, 2009, were 27.5 trillion yen, an increase of 2.7 trillion yen compared to March 31, 2009, reflecting primarily the increase in Collateralized agreements and in Trading assets. Total liabilities as of June 30, 2009 were 26.0 trillion yen, an increase of 2.7 trillion yen compared to March 31, 2009, mainly due to the increase in Collateralized financing and in Trading liabilities. Total equity at June 30, 2009, was 1.6 trillion yen, an increase of 4.9 billion yen compared to March 31, 2009.
| 3. | Earnings Forecasts |
Nomura provides investment, financing and related services in the capital markets on a global basis. In the global capital markets there exist uncertainties due to, but not limited to, economic and market conditions. Nomura, therefore, does not present earnings forecasts.
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| 4. | Other |
Changes in accounting basis, procedure and presentation for the quarterly consolidated financial statements
Accounting for Determining Whether an Instrument (or Embedded Feature) Is Indexed to an Entity’s Own Stock-
Effective April 1, 2009, Nomura adopted EITF Issue No. 07-5, “Determining Whether an Instrument (or Embedded Feature) Is Indexed to an Entity’s Own Stock” (“EITF 07-5”). EITF 07-5 amends the existing guidance for determining whether a price adjustment mechanism included in an equity-linked financial instrument (or embedded feature) needs to be bifurcated and classified as an asset or liability and be subject to profit or loss recognition based its fair value.
Upon adoption of EIFT 07-5, Nomura made certain reclassification adjustments to the beginning balances of Long-term borrowings, Additional paid-in-capital, Retained earnings, and Other assets – Other in order to bifurcate certain clauses attached to the unsecured convertible bonds (the “bonds”), because such clauses contained in the bonds were not deemed as indexed to Nomura’s own stock pursuant to EITF 07-5.
Accounting for Business Combinations-
Nomura adopted Financial Accounting Standards Board (“FASB”) SFAS No.141-R, “Business Combinations” (“SFAS 141-R”) on April 1, 2009. SFAS 141-R is to be applied to the business combinations whose acquisition dates are on or after April 1, 2009.
Accounting for Noncontrolling Interests-
Nomura adopted FASB SFAS No.160, “Noncontrolling Interests in Consolidated Financial Statements” (“SFAS 160”) on April 1, 2009. In accordance with this standard, it is applied prospectively from the beginning of the fiscal year in which it is initially adopted. However, its presentation and disclosure requirements are applied retrospectively for all periods presented. Certain reclassifications of previously reported amounts have been made to conform to the current year presentation.
| 5. | Quarterly Consolidated Financial Statements |
Basis of presentation —
The quarterly consolidated financial information herein has been prepared in accordance with Nomura’s accounting policies which are disclosed in the notes to the consolidated financial statements of Nomura Holdings, Inc.’s Annual Securities Report (the annual report filed in Japan on June 30, 2009) and Form 20-F (the annual report filed with the U.S. Securities and Exchange Commission on June 30, 2009) for the year ended March 31, 2009.
Please refer to 4. Other, “Changes in accounting basis, procedure and presentation for the quarterly consolidated financial statements” for presentations of significant changes in accounting principles.
The review procedures of the quarterly report for this period have not been completed yet.
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| (1) | Consolidated Balance Sheets (UNAUDITED) |
| Millions of yen | |||||||||
| June 30, 2009 |
March 31, 2009 |
Increase/ (Decrease) |
|||||||
| ASSETS | |||||||||
| Cash and cash deposits: |
|||||||||
| Cash and cash equivalents |
531,580 | 613,566 | (81,986 | ) | |||||
| Time deposits |
175,914 | 537,084 | (361,170 | ) | |||||
| Deposits with stock exchanges and other segregated cash |
158,370 | 272,059 | (113,689 | ) | |||||
| 865,864 | 1,422,709 | (556,845 | ) | ||||||
| Loans and receivables: |
|||||||||
| Loans receivable |
653,696 | 519,179 | 134,517 | ||||||
| Receivables from customers |
40,330 | 23,619 | 16,711 | ||||||
| Receivables from other than customers |
990,585 | 1,103,974 | (113,389 | ) | |||||
| Allowance for doubtful accounts |
(6,606 | ) | (3,765 | ) | (2,841 | ) | |||
| 1,678,005 | 1,643,007 | 34,998 | |||||||
| Collateralized agreements: |
|||||||||
| Securities purchased under agreements to resell |
4,966,657 | 2,657,151 | 2,309,506 | ||||||
| Securities borrowed |
5,184,901 | 5,755,467 | (570,566 | ) | |||||
| 10,151,558 | 8,412,618 | 1,738,940 | |||||||
| Trading assets and private equity investments: |
|||||||||
| Trading assets* |
12,761,442 | 11,348,747 | 1,412,695 | ||||||
| Private equity investments |
336,050 | 323,865 | 12,185 | ||||||
| 13,097,492 | 11,672,612 | 1,424,880 | |||||||
| Other assets: |
|||||||||
| Office buildings, land, equipment and facilities (net of accumulated depreciation and amortization of |
355,283 | 357,256 | (1,973 | ) | |||||
| Non-trading debt securities* |
253,782 | 244,027 | 9,755 | ||||||
| Investments in equity securities* |
127,445 | 118,902 | 8,543 | ||||||
| Investments in and advances to affiliated companies* |
243,956 | 243,474 | 482 | ||||||
| Other |
766,315 | 723,243 | 43,072 | ||||||
| 1,746,781 | 1,686,902 | 59,879 | |||||||
| Total assets |
27,539,700 | 24,837,848 | 2,701,852 | ||||||
| * | Including securities pledged as collateral |
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| Millions of yen | |||||||||
| June 30, 2009 |
March 31, 2009 |
Increase/ (Decrease) |
|||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||||||
| Short-term borrowings |
1,103,220 | 1,183,374 | (80,154 | ) | |||||
| Payables and deposits: |
|||||||||
| Payables to customers |
406,026 | 403,797 | 2,229 | ||||||
| Payables to other than customers |
319,526 | 398,187 | (78,661 | ) | |||||
| Deposits received at banks |
493,828 | 440,334 | 53,494 | ||||||
| 1,219,380 | 1,242,318 | (22,938 | ) | ||||||
| Collateralized financing: |
|||||||||
| Securities sold under agreements to repurchase |
6,797,673 | 5,000,787 | 1,796,886 | ||||||
| Securities loaned |
3,022,663 | 2,243,152 | 779,511 | ||||||
| Other secured borrowings |
1,825,420 | 2,914,015 | (1,088,595 | ) | |||||
| 11,645,756 | 10,157,954 | 1,487,802 | |||||||
| Trading liabilities |
5,617,886 | 4,752,054 | 865,832 | ||||||
| Other liabilities |
456,633 | 467,574 | (10,941 | ) | |||||
| Long-term borrowings |
5,940,361 | 5,483,028 | 457,333 | ||||||
| Total liabilities |
25,983,236 | 23,286,302 | 2,696,934 | ||||||
| Equity |
|||||||||
| NHI shareholders’ equity: |
|||||||||
| Common stock |
|||||||||
| Authorized - 6,000,000,000 shares Outstanding - 2,620,759,254 shares at June 30, 2009
and |
324,765 | 321,765 | 3,000 | ||||||
| Additional paid-in capital |
350,703 | 374,413 | (23,710 | ) | |||||
| Retained earnings |
1,043,638 | 1,038,557 | 5,081 | ||||||
| Accumulated other comprehensive income |
(100,755 | ) | (118,437 | ) | 17,682 | ||||
| 1,618,351 | 1,616,298 | 2,053 | |||||||
| Common stock held in treasury, at cost - |
(73,881 | ) | (76,902 | ) | 3,021 | ||||
| Total NHI shareholders’ equity |
1,544,470 | 1,539,396 | 5,074 | ||||||
| Noncontrolling interests |
11,994 | 12,150 | (156 | ) | |||||
| Total equity |
1,556,464 | 1,551,546 | 4,918 | ||||||
| Total liabilities and equity |
27,539,700 | 24,837,848 | 2,701,852 | ||||||
Note: Noncontrolling interests, which were previously included in Other liabilities, are classified as equity in accordance with SFAS 160. Certain reclassifications of previously reported amounts have been made to conform to the current year presentation.
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| (2) | Consolidated Statements of Operations (UNAUDITED) |
| Millions of yen | % Change | ||||||||
| For the three months ended | (A-B)/(B) | ||||||||
| June 30, 2009 (A) |
June 30, 2008 (B) |
||||||||
| Revenue: |
|||||||||
| Commissions |
102,024 | 82,198 | 24.1 | ||||||
| Fees from investment banking |
29,729 | 13,407 | 121.7 | ||||||
| Asset management and portfolio service fees |
30,331 | 42,779 | (29.1 | ) | |||||
| Net gain on trading |
121,132 | 10,515 | 1,052.0 | ||||||
| Loss on private equity investments |
(2,139 | ) | (37,663 | ) | — | ||||
| Interest and dividends |
58,427 | 117,957 | (50.5 | ) | |||||
| Gain on investments in equity securities |
9,801 | 964 | 916.7 | ||||||
| Other |
14,290 | 27,719 | (48.4 | ) | |||||
| Total revenue |
363,595 | 257,876 | 41.0 | ||||||
| Interest expense |
65,236 | 122,789 | (46.9 | ) | |||||
| Net revenue |
298,359 | 135,087 | 120.9 | ||||||
| Non-interest expenses : |
|||||||||
| Compensation and benefits |
138,081 | 87,910 | 57.1 | ||||||
| Commissions and floor brokerage |
20,043 | 18,634 | 7.6 | ||||||
| Information processing and communications |
40,160 | 33,359 | 20.4 | ||||||
| Occupancy and related depreciation |
21,992 | 15,868 | 38.6 | ||||||
| Business development expenses |
6,256 | 7,032 | (11.0 | ) | |||||
| Other |
40,406 | 56,627 | (28.6 | ) | |||||
| 266,938 | 219,430 | 21.7 | |||||||
| Income (loss) before income taxes |
31,421 | (84,343 | ) | — | |||||
| Income tax expense |
20,678 | (7,672 | ) | — | |||||
| Net income (loss) |
10,743 | (76,671 | ) | — | |||||
| Less: Net income (loss) attributable to noncontrolling interests |
(677 | ) | (79 | ) | |||||
| Net income (loss) attributable to NHI |
11,420 | (76,592 | ) | — | |||||
| Yen | % Change | ||||||||
| Per share of common stock: |
|||||||||
| Basic- |
|||||||||
| Net income (loss) attributable to NHI shareholders per share | 4.37 | (40.14 | ) | — | |||||
| Diluted- |
|||||||||
| Net income (loss) attributable to NHI shareholders per share | 1.81 | (40.18 | ) | — | |||||
| Notes: | ||||||
| 1. | Net income (loss) is net income (loss) before subtracting Net income (loss) attributable to noncontrolling interest in accordance with SFAS 160. | |||||
| 2. |
Net income (loss) attributable to NHI was previously reported as Net income (loss). | |||||
| 3. |
Certain reclassifications of previously reported amounts have been made to conform to the current year presentation. | |||||
| (3) | Note with respect to the assumption as a going concern (UNAUDITED) |
Not applicable.
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| (4) | Segment Information-Operating Segment (UNAUDITED) |
The following table shows business segment information and reconciliation items to the consolidated statements of operations.
| Millions of yen | % Change | ||||||||
| For the three months ended | |||||||||
| June 30, 2009 (A) |
June 30, 2008 (B) |
(A-B)/(B) | |||||||
| Net revenue |
|||||||||
| Business segment information: |
|||||||||
| Retail |
95,380 | 85,809 | 11.2 | ||||||
| Global Markets |
187,128 | 10,970 | — | ||||||
| Investment Banking |
25,673 | 28,986 | (11.4 | ) | |||||
| Merchant Banking |
(1,081 | ) | (37,009 | ) | — | ||||
| Asset Management |
18,650 | 21,112 | (11.7 | ) | |||||
| Sub Total |
325,750 | 109,868 | 196.5 | ||||||
| Other |
(37,139 | ) | 24,546 | — | |||||
| Net revenue |
288,611 | 134,414 | 114.7 | ||||||
| Reconciliation items: |
|||||||||
| Unrealized gain (loss) on investments in equity securities held for operating purposes |
9,748 | 673 | — | ||||||
| Net revenue |
298,359 | 135,087 | 120.9 | ||||||
| Non-interest expenses |
|||||||||
| Business segment information: |
|||||||||
| Retail |
67,521 | 69,630 | (3.0 | ) | |||||
| Global Markets |
124,862 | 72,589 | 72.0 | ||||||
| Investment Banking |
31,098 | 16,411 | 89.5 | ||||||
| Merchant Banking |
2,498 | 2,357 | 6.0 | ||||||
| Asset Management |
13,521 | 12,960 | 4.3 | ||||||
| Sub Total |
239,500 | 173,947 | 37.7 | ||||||
| Other |
27,438 | 45,483 | (39.7 | ) | |||||
| Non-interest expenses |
266,938 | 219,430 | 21.7 | ||||||
| Reconciliation items: |
|||||||||
| Unrealized gain (loss) on investments in equity securities held for operating purposes |
— | — | — | ||||||
| Non-interest expenses |
266,938 | 219,430 | 21.7 | ||||||
| Income (loss) before income taxes |
|||||||||
| Business segment information: |
|||||||||
| Retail |
27,859 | 16,179 | 72.2 | ||||||
| Global Markets |
62,266 | (61,619 | ) | — | |||||
| Investment Banking |
(5,425 | ) | 12,575 | — | |||||
| Merchant Banking |
(3,579 | ) | (39,366 | ) | — | ||||
| Asset Management |
5,129 | 8,152 | (37.1 | ) | |||||
| Sub Total |
86,250 | (64,079 | ) | — | |||||
| Other * |
(64,577 | ) | (20,937 | ) | — | ||||
| Income (loss) before income taxes |
21,673 | (85,016 | ) | — | |||||
| Reconciliation items: |
|||||||||
| Unrealized gain (loss) on investments in equity securities held for operating purposes |
9,748 | 673 | — | ||||||
| Income (loss) before income taxes |
31,421 | (84,343 | ) | — | |||||
| * | Major components |
Transactions between operating segments are recorded within segment results on commercial terms and conditions and are eliminated in “Other.”
The following table presents the major components of income (loss) before income taxes in “Other.”
| Millions of yen | % Change | ||||||||
| For the three months ended | |||||||||
| June 30, 2009 (A) |
June 30, 2008 (B) |
(A-B)/(B) | |||||||
| Net gain (loss) on trading related to economic hedging transactions |
3,255 | 1,006 | 223.6 | ||||||
| Realized gain (loss) on investments in equity securities held for operating purposes |
53 | 291 | (81.8 | ) | |||||
| Equity in earnings of affiliates |
3,701 | 2,061 | 79.6 | ||||||
| Corporate items |
(24,896 | ) | (5,620 | ) | — | ||||
| Others |
(46,690 | ) | (18,675 | ) | — | ||||
| Total |
(64,577 | ) | (20,937 | ) | — | ||||
Note: Certain reclassifications of previously reported amounts have been made to conform to the current year presentation.
12
Table of Contents
| (5) | Significant Changes in Shareholders’ equity |
Not applicable. For further details of the changes, please refer to the “Consolidated Statements of Changes in Shareholders’ Equity (UNAUDITED)” below.
| Millions of yen | |||
| For the three months ended | |||
| June 30, 2009 |
|||
| Common stock |
|||
| Balance at beginning of year |
321,765 | ||
| Conversion of convertible bonds |
3,000 | ||
| Balance at end of period |
324,765 | ||
| Additional paid-in capital |
|||
| Balance at beginning of year |
374,413 | ||
| Conversion of convertible bonds |
3,000 | ||
| Gain on sales of treasury stock |
2,124 | ||
| Issuance and exercise of common stock options |
(1,805 | ) | |
| Adjustments to initially apply EITF 07-5 |
(26,923 | ) | |
| Other net change in additional paid-in capital |
(106 | ) | |
| Balance at end of period |
350,703 | ||
| Retained earnings |
|||
| Balance at beginning of year |
1,038,557 | ||
| Net income attributable to NHI |
11,420 | ||
| Adjustments to initially apply EITF 07-5 |
(6,339 | ) | |
| Balance at end of period |
1,043,638 | ||
| Accumulated other comprehensive income |
|||
| Cumulative translation adjustments |
|||
| Balance at beginning of year |
(73,469 | ) | |
| Net change during the year |
18,408 | ||
| Balance at end of period |
(55,061 | ) | |
| Defined benefit pension plans |
|||
| Balance at beginning of year |
(44,968 | ) | |
| Pension liability adjustment |
(726 | ) | |
| Balance at end of period |
(45,694 | ) | |
| Balance at end of period |
(100,755 | ) | |
| Common stock held in treasury |
|||
| Balance at beginning of year |
(76,902 | ) | |
| Repurchases of common stock |
(6 | ) | |
| Sale of common stock |
8 | ||
| Common stock issued to employees |
2,960 | ||
| Other net change in treasury stock |
59 | ||
| Balance at end of period |
(73,881 | ) | |
| Total NHI shareholders’ equity |
|||
| Balance at end of period |
1,544,470 | ||
| Noncontrolling interest |
|||
| Balance at beginning of year |
12,150 | ||
| Net change during the year |
(156 | ) | |
| Balance at end of period |
11,994 | ||
| Total equity |
|||
| Balance at end of period |
1,556,464 | ||
Note: Noncontrolling interests, which were previously included in Other liabilities, are classified as equity in accordance with SFAS 160.
13
Table of Contents
| 6. | Other Information |
Consolidated Statements of Operations - Quarterly (UNAUDITED)
| Millions of yen | % Change | Millions of yen | |||||||||||||||||||
| For the three months ended | (B-A)/(A) | For the year ended | |||||||||||||||||||
| June 30, 2008 |
September 30, 2008 |
December 31, 2008 |
March 31, 2009(A) |
June 30, 2009(B) |
March 31, 2009 |
||||||||||||||||
| Revenue: |
|||||||||||||||||||||
| Commissions |
82,198 | 84,886 | 73,373 | 66,346 | 102,024 | 53.8 | 306,803 | ||||||||||||||
| Fees from investment banking |
13,407 | 10,026 | 19,678 | 11,842 | 29,729 | 151.0 | 54,953 | ||||||||||||||
| Asset management and portfolio service fees |
42,779 | 42,411 | 29,410 | 25,566 | 30,331 | 18.6 | 140,166 | ||||||||||||||
| Net gain on trading |
10,515 | (21,015 | ) | (134,518 | ) | 16,679 | 121,132 | 626.3 | (128,339 | ) | |||||||||||
| Gain (loss) on private equity investments |
(37,663 | ) | 23,167 | (24,782 | ) | (15,513 | ) | (2,139 | ) | — | (54,791 | ) | |||||||||
| Interest and dividends |
117,957 | 126,993 | 45,899 | 40,507 | 58,427 | 44.2 | 331,356 | ||||||||||||||
| Gain (loss) on investments in equity securities |
964 | (9,804 | ) | (12,938 | ) | (3,722 | ) | 9,801 | — | (25,500 | ) | ||||||||||
| Other |
27,719 | 1,068 | 6,588 | 4,488 | 14,290 | 218.4 | 39,863 | ||||||||||||||
| Total revenue |
257,876 | 257,732 | 2,710 | 146,193 | 363,595 | 148.7 | 664,511 | ||||||||||||||
| Interest expense |
122,789 | 129,667 | 52,456 | 46,972 | 65,236 | 38.9 | 351,884 | ||||||||||||||
| Net revenue |
135,087 | 128,065 | (49,746 | ) | 99,221 | 298,359 | 200.7 | 312,627 | |||||||||||||
| Non-interest expenses: |
|||||||||||||||||||||
| Compensation and benefits |
87,910 | 80,098 | 161,823 | 161,724 | 138,081 | (14.6 | ) | 491,555 | |||||||||||||
| Commissions and floor brokerage |
18,634 | 20,343 | 17,561 | 17,143 | 20,043 | 16.9 | 73,681 | ||||||||||||||
| Information processing and communications |
33,359 | 34,632 | 40,838 | 46,151 | 40,160 | (13.0 | ) | 154,980 | |||||||||||||
| Occupancy and related depreciation |
15,868 | 17,180 | 23,245 | 22,187 | 21,992 | (0.9 | ) | 78,480 | |||||||||||||
| Business development expenses |
7,032 | 7,919 | 8,123 | 8,564 | 6,256 | (27.0 | ) | 31,638 | |||||||||||||
| Other |
56,627 | 37,284 | 98,274 | 70,373 | 40,406 | (42.6 | ) | 262,558 | |||||||||||||
| 219,430 | 197,456 | 349,864 | 326,142 | 266,938 | (18.2 | ) | 1,092,892 | ||||||||||||||
| Income (loss) before income taxes |
(84,343 | ) | (69,391 | ) | (399,610 | ) | (226,921 | ) | 31,421 | — | (780,265 | ) | |||||||||
| Income tax expense |
(7,672 | ) | 3,531 | (56,648 | ) | (10,065 | ) | 20,678 | — | (70,854 | ) | ||||||||||
| Net income (loss) |
(76,671 | ) | (72,922 | ) | (342,962 | ) | (216,856 | ) | 10,743 | — | (709,411 | ) | |||||||||
| Less: Net income (loss) attributable to noncontrolling interests |
(79 | ) | (50 | ) | (68 | ) | (1,022 | ) | (677 | ) | — | (1,219 | ) | ||||||||
| Net income (loss) attributable to NHI |
(76,592 | ) | (72,872 | ) | (342,894 | ) | (215,834 | ) | 11,420 | — | (708,192 | ) | |||||||||
| Yen | % Change | Yen | |||||||||||||||||||
| Per share of common stock: |
|||||||||||||||||||||
| Basic- |
|||||||||||||||||||||
| Net income (loss) attributable to NHI shareholders per share |
(40.14 | ) | (38.18 | ) | (179.62 | ) | (107.00 | ) | 4.37 | — | (364.69 | ) | |||||||||
| Diluted- |
|||||||||||||||||||||
| Net income (loss) attributable to NHI shareholders per share |
(40.18 | ) | (38.23 | ) | (180.97 | ) | (108.71 | ) | 1.81 | — | (366.16 | ) | |||||||||
| Notes: |
||
| 1. | The review procedures of the quarterly report for this period have not been completed yet. | |
| 2. | Certain reclassifications of previously reported amounts have been made to conform to the current year presentation. |
14
Table of Contents
Business Segment Information - Quarterly Results (UNAUDITED)
The following table shows quarterly business segment information and reconciliation items to the consolidated statements of operations.
| Millions of yen | % Change | Millions of yen | |||||||||||||||||||
| For the three months ended | (B-A)/(A) | For the year ended | |||||||||||||||||||
| June 30, 2008 |
September 30, 2008 |
December 31, 2008 |
March 31, 2009(A) |
June 30, 2009(B) |
March 31, 2009 |
||||||||||||||||
| Net revenue |
|||||||||||||||||||||
| Business segment information: |
|||||||||||||||||||||
| Retail |
85,809 | 74,455 | 69,650 | 61,943 | 95,380 | 54.0 | 291,857 | ||||||||||||||
| Global Markets |
10,970 | (6,538 | ) | (171,084 | ) | 9,398 | 187,128 | — | (157,254 | ) | |||||||||||
| Investment Banking |
28,986 | 5,247 | 22,658 | 6,608 | 25,673 | 288.5 | 63,499 | ||||||||||||||
| Merchant Banking |
(37,009 | ) | 20,500 | (34,987 | ) | (18,379 | ) | (1,081 | ) | — | (69,875 | ) | |||||||||
| Asset Management |
21,112 | 14,711 | 10,842 | 13,124 | 18,650 | 42.1 | 59,789 | ||||||||||||||
| Sub Total |
109,868 | 108,375 | (102,921 | ) | 72,694 | 325,750 | 348.1 | 188,016 | |||||||||||||
| Other |
24,546 | 27,992 | 64,727 | 30,483 | (37,139 | ) | — | 147,748 | |||||||||||||
| Net revenue |
134,414 | 136,367 | (38,194 | ) | 103,177 | 288,611 | 179.7 | 335,764 | |||||||||||||
| Reconciliation items: |
|||||||||||||||||||||
| Unrealized gain (loss) on investments in equity securities held for operating purposes |
673 | (8,302 | ) | (11,552 | ) | (3,956 | ) | 9,748 | — | (23,137 | ) | ||||||||||
| Net revenue |
135,087 | 128,065 | (49,746 | ) | 99,221 | 298,359 | 200.7 | 312,627 | |||||||||||||
| Non-interest expenses |
|||||||||||||||||||||
| Business segment information: |
|||||||||||||||||||||
| Retail |
69,630 | 69,137 | 67,370 | 67,483 | 67,521 | 0.1 | 273,620 | ||||||||||||||
| Global Markets |
72,589 | 80,150 | 124,438 | 140,210 | 124,862 | (10.9 | ) | 417,387 | |||||||||||||
| Investment Banking |
16,411 | 13,970 | 42,601 | 47,928 | 31,098 | (35.1 | ) | 120,910 | |||||||||||||
| Merchant Banking |
2,357 | 5,853 | 2,604 | 4,584 | 2,498 | (45.5 | ) | 15,398 | |||||||||||||
| Asset Management |
12,960 | 13,916 | 12,933 | 12,600 | 13,521 | 7.3 | 52,409 | ||||||||||||||
| Sub Total |
173,947 | 183,026 | 249,946 | 272,805 | 239,500 | (12.2 | ) | 879,724 | |||||||||||||
| Other |
45,483 | 14,430 | 99,918 | 53,337 | 27,438 | (48.6 | ) | 213,168 | |||||||||||||
| Non-interest expenses |
219,430 | 197,456 | 349,864 | 326,142 | 266,938 | (18.2 | ) | 1,092,892 | |||||||||||||
| Reconciliation items: |
|||||||||||||||||||||
| Unrealized gain (loss) on investments in equity securities held for operating purposes |
— | — | — | — | — | — | — | ||||||||||||||
| Non-interest expenses |
219,430 | 197,456 | 349,864 | 326,142 | 266,938 | (18.2 | ) | 1,092,892 | |||||||||||||
| Income (loss) before income taxes |
|||||||||||||||||||||
| Business segment information: |
|||||||||||||||||||||
| Retail |
16,179 | 5,318 | 2,280 | (5,540 | ) | 27,859 | — | 18,237 | |||||||||||||
| Global Markets |
(61,619 | ) | (86,688 | ) | (295,522 | ) | (130,812 | ) | 62,266 | — | (574,641 | ) | |||||||||
| Investment Banking |
12,575 | (8,723 | ) | (19,943 | ) | (41,320 | ) | (5,425 | ) | — | (57,411 | ) | |||||||||
| Merchant Banking |
(39,366 | ) | 14,647 | (37,591 | ) | (22,963 | ) | (3,579 | ) | — | (85,273 | ) | |||||||||
| Asset Management |
8,152 | 795 | (2,091 | ) | 524 | 5,129 | 878.8 | 7,380 | |||||||||||||
| Sub Total |
(64,079 | ) | (74,651 | ) | (352,867 | ) | (200,111 | ) | 86,250 | — | (691,708 | ) | |||||||||
| Other * |
(20,937 | ) | 13,562 | (35,191 | ) | (22,854 | ) | (64,577 | ) | — | (65,420 | ) | |||||||||
| Income (loss) before income taxes |
(85,016 | ) | (61,089 | ) | (388,058 | ) | (222,965 | ) | 21,673 | — | (757,128 | ) | |||||||||
| Reconciliation items: |
|||||||||||||||||||||
| Unrealized gain (loss) on investments in equity securities held for operating purposes |
673 | (8,302 | ) | (11,552 | ) | (3,956 | ) | 9,748 | — | (23,137 | ) | ||||||||||
| Income (loss) before income taxes |
(84,343 | ) | (69,391 | ) | (399,610 | ) | (226,921 | ) | 31,421 | — | (780,265 | ) | |||||||||
| * | 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 | (B-A)/(A) | For the year ended | |||||||||||||||||||
| June 30, 2008 |
September 30, 2008 |
December 31, 2008 |
March 31, 2009(A) |
June 30, 2009(B) |
March 31, 2009 |
||||||||||||||||
| Net gain (loss) on trading related to economic hedging transactions |
1,006 | 20,188 | 40,265 | 2,693 | 3,255 | 20.9 | 64,152 | ||||||||||||||
| Realized gain (loss) on investments in equity securities held for operating purposes |
291 | (1,503 | ) | (1,385 | ) | 234 | 53 | (77.4 | ) | (2,363 | ) | ||||||||||
| Equity in earnings of affiliates |
2,061 | 3,999 | (376 | ) | (6,402 | ) | 3,701 | — | (718 | ) | |||||||||||
| Corporate items |
(5,620 | ) | (2,349 | ) | (34,953 | ) | (27,611 | ) | (24,896 | ) | — | (70,533 | ) | ||||||||
| Others |
(18,675 | ) | (6,773 | ) | (38,742 | ) | 8,232 | (46,690 | ) | — | (55,958 | ) | |||||||||
| Total |
(20,937 | ) | 13,562 | (35,191 | ) | (22,854 | ) | (64,577 | ) | — | (65,420 | ) | |||||||||
| Notes: | ||
| 1. | The review procedures of the quarterly report for this period have not been completed yet. | |
| 2. | Certain reclassifications of previously reported amounts have been made to conform to the current year presentation. | |
15
Table of Contents
“Commissions/fees received” and “Net gain on trading” consists of the following (UNAUDITED)
| Millions of yen | % Change | % Change | ||||||||||||||||||
| For the three months ended | (C-B)/(B) | (C-A)/(A) | ||||||||||||||||||
| June 30, 2008(A) |
September 30, 2008 |
December 31, 2008 |
March 31, 2009(B) |
June 30, 2009(C) |
||||||||||||||||
| Commissions/fees received |
||||||||||||||||||||
| Commissions |
82,198 | 84,886 | 73,373 | 66,346 | 102,024 | 53.8 | 24.1 | |||||||||||||
| Brokerage Commissions |
49,287 | 53,840 | 60,208 | 40,028 | 57,863 | 44.6 | 17.4 | |||||||||||||
| Commissions for Distribution of Investment Trust |
25,811 | 24,173 | 6,897 | 19,056 | 39,505 | 107.3 | 53.1 | |||||||||||||
| Fees from Investment Banking |
13,407 | 10,026 | 19,678 | 11,842 | 29,729 | 151.0 | 121.7 | |||||||||||||
| Underwriting and Distribution |
6,815 | 3,385 | 9,424 | 5,491 | 20,900 | 280.6 | 206.7 | |||||||||||||
| M&A / Financial Advisory Fees |
4,568 | 6,218 | 10,119 | 5,824 | 8,573 | 47.2 | 87.7 | |||||||||||||
| Asset Management and Portfolio Service Fees |
42,779 | 42,411 | 29,410 | 25,566 | 30,331 | 18.6 | (29.1 | ) | ||||||||||||
| Asset Management Fees |
38,485 | 38,358 | 26,027 | 22,574 | 26,523 | 17.5 | (31.1 | ) | ||||||||||||
| Total |
138,384 | 137,323 | 122,461 | 103,754 | 162,084 | 56.2 | 17.1 | |||||||||||||
| Net gain (loss) on trading |
||||||||||||||||||||
| Merchant Banking |
(69 | ) | (457 | ) | (584 | ) | (1,550 | ) | 278 | — | — | |||||||||
| Equity Trading |
33,267 | 1,717 | (13,973 | ) | (59,671 | ) | 64,823 | — | 94.9 | |||||||||||
| Fixed Income and Other Trading |
(22,683 | ) | (22,275 | ) | (119,961 | ) | 77,900 | 56,031 | (28.1 | ) | — | |||||||||
| Total |
10,515 | (21,015 | ) | (134,518 | ) | 16,679 | 121,132 | 626.3 | — | |||||||||||
Note: The review procedures of the quarterly report for this period have not been completed yet.
16
Table of Contents
Reference Information
Unconsolidated Financial Information of Major Consolidated Entities
(UNAUDITED)
The unconsolidated financial information, prepared under Japanese GAAP, is presented for the following entities;
-Nomura Holdings, Inc. Financial Information (Parent Company Only)
-Nomura Securities Co., Ltd. Financial Information
| * | The amounts are rounded to the nearest million. |
17
Table of Contents
NOMURA HOLDINGS, INC.
UNCONSOLIDATED INCOME STATEMENT INFORMATION
| Millions of yen | |||||||||
| For the three months ended | % Change | ||||||||
| June 30, 2009 (A) | June 30, 2008 (B) | (A-B)/(B) | |||||||
| Operating revenue |
73,877 | 190,070 | (61.1 | ) | |||||
| Operating expenses |
43,676 | 45,305 | (3.6 | ) | |||||
| Operating income |
30,201 | 144,765 | (79.1 | ) | |||||
| Non-operating income |
1,206 | 1,488 | (18.9 | ) | |||||
| Non-operating expenses |
1,353 | 64 | 2,011.7 | ||||||
| Ordinary income |
30,054 | 146,189 | (79.4 | ) | |||||
| Special profits |
4,866 | 604 | 705.1 | ||||||
| Special losses |
17,682 | 48,006 | (63.2 | ) | |||||
| Income before income taxes |
17,238 | 98,787 | (82.5 | ) | |||||
| Income taxes - current |
8,429 | 1,607 | 424.4 | ||||||
| Income taxes - deferred |
(7,267 | ) | (6,886 | ) | — | ||||
| Net income |
16,075 | 104,066 | (84.6 | ) | |||||
NOMURA HOLDINGS, INC.
UNCONSOLIDATED BALANCE SHEET INFORMATION
| Millions of yen | |||||||
| June 30, 2009 | March 31, 2009 | Increase/(Decrease) | |||||
| Assets |
|||||||
| Current Assets |
1,808,524 | 1,852,470 | (43,946 | ) | |||
| Fixed Assets |
1,934,279 | 1,829,038 | 105,241 | ||||
| Total Assets |
3,742,803 | 3,681,507 | 61,295 | ||||
| Liabilities |
|||||||
| Current Liabilities |
372,625 | 612,287 | (239,661 | ) | |||
| Long-term Liabilities |
2,092,412 | 1,825,139 | 267,274 | ||||
| Total Liabilities |
2,465,038 | 2,437,425 | 27,612 | ||||
| Net Assets |
|||||||
| Shareholders’ equity |
1,219,300 | 1,192,353 | 26,948 | ||||
| Valuation and translation adjustments |
32,940 | 24,613 | 8,327 | ||||
| Subscription rights to shares |
25,525 | 27,116 | (1,591 | ) | |||
| Total Net Assets |
1,277,765 | 1,244,082 | 33,683 | ||||
| Total Liabilities and Net Assets |
3,742,803 | 3,681,507 | 61,295 | ||||
18
Table of Contents
NOMURA SECURITIES CO., LTD.
UNCONSOLIDATED INCOME STATEMENT INFORMATION
| Millions of yen | |||||||||
| For the three months ended | % Change | ||||||||
| June 30, 2009 (A) | June 30, 2008 (B) | (A-B)/(B) | |||||||
| Operating revenue |
195,430 | 158,921 | 23.0 | ||||||
| Commissions |
100,914 | 74,152 | 36.1 | ||||||
| Net gain on trading |
72,051 | 41,554 | 73.4 | ||||||
| Net gain on other inventories |
2 | 2 | (13.1 | ) | |||||
| Interest and dividend income |
22,463 | 43,214 | (48.0 | ) | |||||
| Interest expenses |
22,310 | 37,236 | (40.1 | ) | |||||
| Net operating revenue |
173,120 | 121,685 | 42.3 | ||||||
| Selling, general and administrative expenses |
124,137 | 102,737 | 20.8 | ||||||
| Operating income |
48,983 | 18,948 | 158.5 | ||||||
| Non-operating income |
211 | 212 | (0.2 | ) | |||||
| Non-operating expenses |
427 | 289 | 47.8 | ||||||
| Ordinary income |
48,767 | 18,871 | 158.4 | ||||||
| Special profits |
398 | 532 | (25.3 | ) | |||||
| Special losses |
— | — | — | ||||||
| Income before income taxes |
49,165 | 19,404 | 153.4 | ||||||
| Income taxes - current |
(6,564 | ) | (3,996 | ) | — | ||||
| Income taxes - deferred |
25,844 | 9,835 | 162.8 | ||||||
| Net income |
29,885 | 13,564 | 120.3 | ||||||
NOMURA SECURITIES CO., LTD.
UNCONSOLIDATED BALANCE SHEET INFORMATION
| Millions of yen | |||||||
| June 30, 2009 | March 31, 2009 | Increase/(Decrease) | |||||
| Assets |
|||||||
| Current Assets: |
11,064,472 | 12,682,853 | (1,618,381 | ) | |||
| Trading assets |
5,645,129 | 6,377,645 | (732,516 | ) | |||
| Loans with securities as collateral |
4,246,886 | 4,920,428 | (673,541 | ) | |||
| Other |
1,172,456 | 1,384,780 | (212,324 | ) | |||
| Fixed Assets |
92,959 | 113,611 | (20,652 | ) | |||
| Total Assets |
11,157,431 | 12,796,464 | (1,639,033 | ) | |||
| Liabilities |
|||||||
| Current Liabilities: |
9,409,648 | 11,059,662 | (1,650,014 | ) | |||
| Trading liabilities |
2,138,344 | 2,129,948 | 8,396 | ||||
| Borrowings with securities as collateral |
2,951,991 | 3,345,360 | (393,369 | ) | |||
| Other |
4,319,314 | 5,584,355 | (1,265,041 | ) | |||
| Long-term Liabilities |
990,916 | 1,009,831 | (18,915 | ) | |||
| Statutory Reserves |
5,519 | 5,519 | 0 | ||||
| Total Liabilities |
10,406,083 | 12,075,012 | (1,668,929 | ) | |||
| Shareholder’s equity |
749,207 | 719,322 | 29,885 | ||||
| Valuation and translation adjustments |
2,141 | 2,131 | 11 | ||||
| Total Net Assets |
751,348 | 721,453 | 29,896 | ||||
| Total Liabilities and Net Assets |
11,157,431 | 12,796,464 | (1,639,033 | ) | |||
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Table of Contents
NOMURA SECURITIES CO., LTD.
SUPPLEMENTARY INFORMATION
1. Commission Revenues
(1) Breakdown by Category
| (Millions of yen except percentages) | |||||||
| Three Months Ended | % Change | ||||||
| June 30, 2009 (A) | June 30, 2008 (B) | (A-B)/(B) | |||||
| Brokerage commissions |
21,862 | 20,959 | 4.3 | % | |||
| (Stocks) |
20,998 | 19,545 | 7.4 | ||||
| Commissions for underwriting, secondary distribution and solicitation for selling and others for Professional Investors |
15,888 | 1,863 | 752.9 | ||||
| (Stocks) |
14,396 | 1,105 | 1,202.7 | ||||
| (Bonds) |
1,492 | 758 | 96.9 | ||||
| Fees for offering, secondary distribution and solicitation for selling and others for Professional Investors |
39,507 | 26,155 | 51.0 | ||||
| (Investment trust certificates) |
39,467 | 25,796 | 53.0 | ||||
| Other commissions |
23,657 | 25,175 | (6.0 | ) | |||
| (Investment trust certificates) |
10,353 | 14,506 | (28.6 | ) | |||
| Total |
100,914 | 74,152 | 36.1 | ||||
| (2) Breakdown by Product |
|||||||
| (Millions of yen except percentages) | |||||||
| Three Months Ended | % Change | ||||||
| June 30, 2009 (A) | June 30, 2008 (B) | (A-B)/(B) | |||||
| Stocks |
37,531 | 21,311 | 76.1 | % | |||
| Bonds |
2,976 | 1,991 | 49.4 | ||||
| Investment trust certificates |
50,427 | 41,472 | 21.6 | ||||
| Others |
9,981 | 9,377 | 6.4 | ||||
| Total |
100,914 | 74,152 | 36.1 | ||||
| 2. Net Gain on Trading | |||||||
| (Millions of yen except percentages) | |||||||
| Three Months Ended | % Change | ||||||
| June 30, 2009 (A) | June 30, 2008 (B) | (A-B)/(B) | |||||
| Stocks |
4,172 | 7,069 | (41.0 | )% | |||
| Bonds and forex |
67,879 | 34,484 | 96.8 | ||||
| Total |
72,051 | 41,554 | 73.4 | ||||
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Table of Contents
NOMURA SECURITIES CO., LTD.
SUPPLEMENTARY INFORMATION
3. Stock Trading (excluding futures transactions)
| (Millions of shares or yen except per share data and percentages) | ||||||||||||||||||
| Three Months Ended | % Change | |||||||||||||||||
| June 30, 2009 (A) | June 30, 2008 (B) | (A-B)/(B) | ||||||||||||||||
| Number of shares |
Amount | Number of shares |
Amount | Number of shares |
Amount | |||||||||||||
| Total |
23,325 | 17,236,392 | 16,425 | 21,137,787 | 42.0 | % | (18.5 | )% | ||||||||||
| (Brokerage) |
16,868 | 12,104,618 | 10,462 | 13,195,657 | 61.2 | (8.3 | ) | |||||||||||
| (Proprietary Trading) |
6,457 | 5,131,774 | 5,962 | 7,942,129 | 8.3 | (35.4 | ) | |||||||||||
| Brokerage / Total |
72.3 | % | 70.2 | % | 63.7 | % | 62.4 | % | ||||||||||
| TSE Share |
6.5 | % | 7.5 | % | 5.6 | % | 6.1 | % | ||||||||||
| Brokerage Commission per share (yen) |
1.22 | 1.84 | ||||||||||||||||
4. Underwriting, Subscription, and Distribution
| (Millions of shares or yen except percentages) | |||||||
| Three Months Ended | % Change | ||||||
| June 30, 2009 (A) | June 30, 2008 (B) | (A-B)/(B) | |||||
| Underwriting |
|||||||
| Stocks (number of shares) |
555 | 0 | — | % | |||
| (yen amount) |
310,888 | 56,960 | 445.8 | ||||
| Bonds (face value) |
1,703,924 | 1,322,763 | 28.8 | ||||
| Investment trust certificates (yen amount) |
— | — | — | ||||
| Beneficial interest (face value) |
— | — | — | ||||
| Subscription and Distribution* |
|||||||
| Stocks (number of shares) |
775 | 0 | — | ||||
| (yen amount) |
419,631 | 36,467 | 1,050.7 | ||||
| Bonds (face value) |
474,915 | 794,088 | (40.2 | ) | |||
| Investment trust certificates (yen amount) |
4,605,973 | 3,967,134 | 16.1 | ||||
| Beneficial interest (face value) |
— | — | — | ||||
| * | Includes secondary offering, private placement and solicitation for selling and others for Professional Investors. |
5. Capital Adequacy Ratio
| (Rounded down to millions of yen except percentages) | |||||||||||||
| June 30, 2009 | March 31, 2009 | Increase/(Decrease) | |||||||||||
| Tier I |
(A) | 749,206 | 719,321 | 29,885 | |||||||||
| Tier II |
Valuation and translation adjustments |
2,141 | 2,130 | 11 | |||||||||
| Statutory reserves | 5,518 | 5,518 | 0 | ||||||||||
| Allowance for doubtful accounts |
26 | 11 | 15 | ||||||||||
| Subordinated debt |
606,086 | 606,085 | 1 | ||||||||||
| Total |
(B) | 613,773 | 613,747 | 26 | |||||||||
| Illiquid Asset |
(C) | 120,114 | 136,123 | (16,009 | ) | ||||||||
| Net Capital |
(A) + (B) - (C) = | (D) | 1,242,865 | 1,196,946 | 45,919 | ||||||||
| Risk |
Market risk |
115,094 | 99,113 | 15,981 | |||||||||
| Counterparty risk | 194,562 | 210,482 | (15,920 | ) | |||||||||
| Basic risk |
137,518 | 135,675 | 1,843 | ||||||||||
| Total |
(E) | 447,175 | 445,271 | 1,904 | |||||||||
| Capital Adequacy Ratio |
(D)/(E)×100 | 277.9 | % | 268.8 | % | 9.1 | % | ||||||
21