Edgar Filing: NOMURA HOLDINGS INC

FORM 6-K

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 February 2012

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):

Information furnished on this form:

EXHIBIT

Exhibit Number

1.	Consolidated Results of Operations (US GAAP), third quarter, year ended March 2012

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: February 10, 2012	By:	/s/ Shinji Iwai
		Shinji Iwai
		Senior Managing Director

LOGO

Consolidated Results of Operations Third quarter, year ending March 2012

(US GAAP)

Nomura Holdings, Inc.

February 2012 © Nomura

LOGO

Disclaimer

Nothing in this document shall be considered as an offer to sell or solicitation of an offer to buy any security, commodity or other instrument, including securities issued by Nomura or any affiliate thereof. Offers to sell, sales, solicitations to buy, or purchases of any securities issued by Nomura or any affiliate thereof may only be made or entered into pursuant to appropriate offering materials or a prospectus prepared and distributed according to the laws, regulations, rules and market practices of the jurisdictions in which such offers or sales may be made.

No part of this document shall be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of Nomura.

The information and opinions contained in this document have been obtained from sources believed to be reliable, but no representations or warranty, express or implied, are made that such information is accurate or complete and no responsibility or liability can be accepted by Nomura for errors or omissions or for any losses arising from the use of this information.

This document contains statements that may constitute, and from time to time our management may make “forward-looking statements” within the meaning of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. Any such statements must be read in the context of the offering materials pursuant to which any securities may be offered or sold in the United States. These forward-looking statements are not historical facts but instead represent only our belief regarding future events, many of which, by their nature, are inherently uncertain and outside our control. Important factors that could cause actual results to differ from those in specific forward-looking statements include, without limitation, economic and market conditions, political events and investor sentiments, liquidity of secondary markets, level and volatility of interest rates, currency exchange rates, security valuations, competitive conditions and size, and the number and timing of transactions.

The consolidated financial information in this document is unaudited.

LOGO

Outline

Presentation Financial Supplement

3Q key points (p. 3) Consolidated balance sheet (p. 23) Executive summary (p. 4) Value at risk (p. 24) Overview of results (p. 5) Consolidated financial highlights (p. 25) Business segment results (p. 6) Consolidated income (p. 26) Retail (p. 7-8) Main revenue items (p. 27)

Asset Management (p. 9-10) Adjustment of consolidated results and segment results: Income (loss) before income taxes (p. 28) Wholesale (p. 11-15) Segment “Others” (p. 29) Non-interest expenses (p. 16) Retail related data (p. 30-34) Progress of cost reduction program (p. 17) Asset Management related data (p. 35-36) Robust financial position (p. 18) Wholesale related data (p. 37-38) Tier 1 capital and risk-weighted assets (p. 19) Number of employees (p. 39) Funding and liquidity (p. 20) Exposure to European peripheral countries (p. 21)

LOGO

3Q key points

Revenues and income up QoQ; All business divisions profitable at pretax level Retail and Asset Management resilient amid challenging conditions Wholesale revenues increased significantly in all regions and businesses

Realigning to new revenue environment

Implementing $1.2bn cost reduction program to lower break-even point Disciplined risk management

Robust financial position

Highly liquid, clean balance sheet

Capital levels sufficient to meet new capital requirements Abundant liquidity

LOGO

Executive summary

Highlights

3Q net revenue: Y404.9bn (+34% QoQ; +37% YoY), income before income taxes: Y34.5bn, and net income1: Y17.8bn

Retail

– Net revenue: Y79.7bn (-5% QoQ); Income before income taxes: Y10.1bn (-6% QoQ)

– Consulting-based strategy offset weaker risk appetite among retail investors resulting in only a slight decline in revenues

Asset Management

– Net revenue: Y15.3bn (-4% QoQ); Income before income taxes: Y4.2bn (-10% QoQ)

– Contained costs to ensure stable profitability despite a decline in assets under management

Wholesale

– Net revenue: Y176.2bn (2.2x QoQ); Income before income taxes: Y37.8bn

– All regions and business lines reported significantly higher revenues QoQ

– Global Markets: Improved trading revenues driven by Fixed Income

– Investment Banking: Gross revenue2 increased significantly in Japan and abroad, driven by traditional and solutions business

Fiscal year-to-date net revenue: Y1,036.9bn (+25% YoY), income before income taxes: Y24.2bn (-57% YoY), and net loss1: Y10.5bn

– Net Income1 declined by Y13.3bn due to a revision to the tax system in Japan

(1) Net income (loss) attributable to Nomura Holdings shareholders. 4

(2) Gross revenue in Investment Banking excluding “Other”.

LOGO

Overview of results

Highlights

(billions of yen)

Net revenue

Non-interest expenses

Income (loss) before income taxes

Net income (loss) 1

ROE 2

FY2011/12 3Q

404.9

370.5

34.5

17.8

3.5%

QoQ (%)

+34%

+7%

YoY (%)

+37% +38% +24% +33%

FY2011/12

1Q – 3Q

1,036.9

1,012.7

24.2 (10.5) YoY (%)

+25%

+31%

- 57%

(1) Net income (loss) attributable to Nomura Holdings shareholders.

(2) Calculated using annualized net income for each period

LOGO

Business segment results

Net revenue and income (loss) before income taxes

(billions of yen)

Revenue Retail

Asset Management

Wholesale

Segment total

Other1

Unrealized gain (loss) on

investments in equity securities

held for operating purposes

Net revenue

Income Retail

(loss) before

income taxes Asset Management

Wholesale

Segment total

Other1

Unrealized gain (loss) on

investments in equity securities

held for operating purposes

Income (loss) before income taxes

FY2011/12 3Q

79.7 15.3 176.2 271.2 136.2

(2.5)

404.9

10.1 4.2 37.8 52.2 (15.2)

(2.5)

34.5

QoQ %

- 5%

- 4% 2.2x +51% +9%

+34%

- 6%

- 10% - - -

YoY %

- 18%

- 11% +2%

- 5% 18.9x

+37%

- 56%

- 24% 3.5x +33% -

+24%

FY2011/12

1Q - 3Q

257.9 50.1 396.7 704.7 338.3

(6.1)

1,036.9

42.8 16.4 (50.1) 9.1 21.2

(6.1)

24.2

YoY %

- 13% +2%

- 11%

- 11% 6.1x

+25%

- 49% +19% -

- 88% -

- 57%

(1) “Other” includes entities consolidated as a result of convertingo includes an own-creditNomuraand counterpartyLandcreditandspread valuationBuildingadjustment intoof Y16.2bn.a

(2) Nomura Bank (Luxembourg) S.A. in Asset Management was integratedously reported amountsto have“Other”been made toinconformAprilto the current2011.presentation.

LOGO

Retail

Net revenue and income before income taxes

(billions of yen)

FY2010/11 FY2011/12

QoQ YoY

3Q 4Q 1Q 2Q 3Q

Net revenue 97.5 96.2 94.2 84.0 79.7 -5% -18%

Non-interest 74.5 78.6 72.2 73.3 69.6 -5% -7%

expenses

Income before

income taxes 23.0 17.7 22.0 10.7 10.1 -6% -56%

Retail client assets

Key performance indicator

(trillions of yen)

72.3 70.6 70.4

66.1 65.0

FY2010/11 FY2011/12

3Q 4Q 1Q 2Q 3Q

Key points

Net revenue: Y79.7bn (-5% QoQ; -18% YoY)

Income before income taxes: Y10.1bn (-6% QoQ; -56% YoY)

Revenues down marginally amid challenging market conditions

– Provided consulting services as retail investor risk appetite

weakened

– Income declined only slightly QoQ due to rigorous cost control

Seventh quarter of net asset inflows driven by consulting based approach

– Increased sales of domestic and foreign bonds

– 50,000 new accounts opened

– Closer collaboration between branch network and Net & Call

channel; Expanded contact points with clients

Client franchise

– Retail client assets Y65trn

– Accounts with balance 4.97m

– Net asset inflow Y250.2bn

Sales of main investment trusts

– Nomura US High Yield Bond Fund Y129.3bn

– UBS (JP) Global Defensive Sector Corporate Bond Fund Y117.8bn

– Nomura Global High Dividend Stock Premium Fund Y107.8bn

– Nomura Global High Yield Bond Fund Y91.4bn

Other sales

– IPOs and public offerings Y48.0bn

– Bonds (total) Y757.4bn

(of which) foreign bonds Y452.2bn

LOGO

Retail: Client franchise continued to expand despite decline in sales

Total sales

(billions of yen) Stocks Bonds Investment trusts Others

3,000 2,000 1,000 0

FY2010/11 FY2011/12

3Q 4Q 1Q 2Q 3Q

Total sales: -9% QoQ

Investment trusts: Sales down QoQ but resilient compared to market

– Enhanced product offering, diversified asset classes, currencies, and investment techniques

– Marketing investment trusts matched to client needs

Bonds: Sales up for fourth straight quarter on diverse demand from investors

– Robust sales of foreign bonds (diversified across Australian dollar, Turkish lira, Brazilian real, South African rand, etc.)

– Sales of JGBs and corporate bonds

Stocks: Sales down QoQ

– TSE turnover down 21% QoQ, which also affected sales in secondary market

– IPO subscriptions up roughly threefold QoQ

Net asset inflows1: Seventh straight quarter of inflows

(billions of yen) 2,500

2,000 1,500 1,000 500 0

2,122

847

1,107

250

FY2010/11 FY2011/12

3Q 4Q 1Q 2Q 3Q

(thousands of accounts)

Accounts with balance (lhs) No. of branches (rhs)

4,960 4,920 4,880

172

174

176

178

4,930

4,936

4,945

4,954

4,966

FY2010/11 FY2011/12

3Q 4Q 1Q 2Q 3Q

180 170 160

(1) Net asset inflow = Asset inflows – asset outflows

LOGO

Asset Management

Net revenue and income before income taxes1

(billions of yen)

FY2010/11 FY2011/12

QoQ YoY

3Q 4Q 1Q 2Q 3Q

Net revenue 17.3 17.3 18.8 16.0 15.3 -4% -11%

Non-interest 11.7 11.0 11.4 11.2 11.1 -2% -6%

expenses

Income before

income taxes 5.6 6.3 7.4 4.7 4.2 -10% -24%

Assets under management

Key performance indicator

(trillions of yen)

24.7 24.1

25.3

22.7 22.6

FY2010/11 FY2011/12

3Q 4Q 1Q 2Q 3Q

Key points

Net revenue: Y15.3bn (-4% QoQ; -11% YoY)

Income before income taxes: Y4.2bn (-10% QoQ; -24% YoY)

Assets under management declined slightly QoQ

Contained costs to ensure stable profitability

Offered public stock investment trusts (excl. ETFs) products matched to client

needs as investors shied away from the market

Newly launched investment trusts: Initial size and amount as of end of Dec

– Nomura Global High Dividend Stock Premium Fund

(currency selection type): Launched Nov 18: Y54.6bn?Y105.6bn

– Nomura SNS related Stock Fund: Launched Oct 28: Y13.5bn?Y19.1bn

– Nomura Asia Collection Fund: Launched Dec 16: Y14.2bn?Y16.5bn

Inflows into ETFs of Y96.8bn (52.3% market share as of end of Dec)2

International investment advisory business reported inflows from pension

funds for various investment strategies in Japanese equities and for Asian

equities

(1) Nomura Bank (Luxembourg) S.A. in Asset Management was integrated to Other business in April 2011. Certain reclassification of previously reported amounts have been made to conform to the current presentation. 9

(2) Source: Nomura, based on data from The Investment Trust Association, Japan. Nomura Asset Management only.

LOGO

Asset Management: High market share in investment trusts, high level of investment advisory assets

Fund flows in public stock investment trusts1, 2

(billions of yen)

500 Public stock investment trusts (exc. ETF) ETF

400

400 344 311

300 236

200 97

100 33 53

-100 -21

-200

-188

-300 -285

-400

FY2010/11 FY2011/12

3Q 4Q 1Q 2Q 3Q

Share of Japan public stock investment trust market1, 2

23% 22% 21% 20% 19% 18%

21.9% 21.9% 22.0% 21.7% 21.8%

Dec-10 Mar-11 Jun-11 Sep-11 Dec-11

Investment advisory assets under management1, 3

(trillions of yen)

Non-Japan Japan

12.0

10.0

8.0 5.7

4.6 5.3 4.5 4.4

6.0

4.0

2.0 4.5 4.4 4.9 4.7 4.7

0.0

Dec-10 Mar-11 Jun-11 Sep-11 Dec-11

Awards

Four funds awarded Fund of the Year 2011 by Morningstar

Best Awarded Fund

– Balanced Fund Division

Nomura Global Six Assets Diversified Fund（Stability Type)

Excellent Fund

– Domestic Stock Fund Division Strategic Value Open

– Balanced Fund Division Global Three Assets Balance Fund

– High Dividend Bond Fund Division Emerging Bond Open Course A

Received „2011 Nikkei Superior

Award

– East Japan Revival Support Bond Fund 1105

LOGO

Wholesale

Net revenue and income (loss) before income taxes

(billions of yen)

FY2010/11 FY2011/12

QoQ YoY

3Q 4Q 1Q 2Q 3Q

Net revenue 172.2 186.3 141.2 79.3 176.2 2.2x +2%

Non-interest 161.4 156.9 156.1 152.4 138.3 -9% -14%

expenses

Income (loss) before

income taxes 10.8 29.4 -14.9 -73.1 37.8 - 3.5x

Net revenue by region1

(billions of yen)

200.0 150.0 100.0 50.0 0.0

FY2010/11 FY2011/12

3Q 4Q 1Q 2Q 3Q

20.6

40.3

52.5

58.8

18.8

38.9

57.8

70.8

20.4

37.6

42.6

40.7

8.3

15.6

14.1

41.4

21.6 30.5

45.3

78.8

AEJ Americas EMEA Japan

Key points

Net revenue: Y176.2bn (2.2x QoQ; +2% YoY) Income before income taxes: Y37.8bn (3.5x YoY)

Revenues in all regions and business lines increased significantly QoQ Client-driven strategy continued to gain traction through close alignment of services to client needs in each region and business Improved trading revenues in both Fixed Income and Equities

Regional results (3Q revenues; QoQ change)

Japan (Y78.8bn; +90%)

– Investment Banking2 revenues grew, driven by M&A and DCM with cross-border collaboration; additional revenues from private equity business

– Fixed Income remained steady, supported by flows generated in new products

EMEA (Y45.3bn; 3.2x)

– Marked rebound in Fixed Income revenues delivering a strong quarter across all core products

– Investment Banking2 reported an increase in revenue driven by transactions with financial institutions and various solutions

Americas (Y30.5bn; +96%)

– Despite suppressed market volumes, Equities revenues rebounded in Derivatives and held steady in Cash

– Robust quarter for Fixed Income, led by trading gains in FX and recovery of Securitized Products

AEJ (Y21.6bn; 2.6x)

– A record quarter for Fixed Income, with solid performance in both Macro and Credit products

(1) Figures have been reclassified to conform with FY2011/12 3Q disclosure standards

(2) Gross revenue in Investment Banking

LOGO

Wholesale: Global Markets

Net revenue and income (loss) before income taxes

(billions of yen)

FY2010/11 FY2011/12

QoQ YoY

3Q 4Q 1Q 2Q 3Q

Fixed Income 71.7 69.4 67.6 45.7 71.2 +56% -1%

Equities 61.5 64.3 56.7 33.4 39.7 +19% -35%

Others 7.8 3.3 5.8 -6.5 7.7 - -0%

Net revenue 141.0 137.0 130.1 72.6 118.7 +63% -16%

Non-interest expenses 127.8 125.5 124.3 121.2 110.3 -9% -14%

Income (loss) before 13.2 11.5 5.7 -48.6 8.4 - -36%

income taxes

Key points

Net revenue: Y118.7bn (+63% QoQ; -16% YoY) Income before income taxes: Y8.4bn (-36% YoY)

Fixed Income

Net revenue: +56% QoQ

Strong performance amidst continued market stress, with most products posting quarterly gains International business contributed larger share of revenues (68% vs.

53% in H1), driven by strong performance in EMEA and AEJ

Credit and Rates driven by new products and structured transactions, while increased client flows and trading gains boosted FX

Securitized Products gained momentum and maintained market share for agency products Client revenues: +5% QoQ

Equities

Net revenue: +19% QoQ

Client revenues: Down QoQ due to weaker trading volumes Regional results Higher revenues in the Americas

– Cash equities robust; improvement in Derivatives including Convertibles AEJ revenues up, while Japan down slightly QoQ

LOGO

Global Markets: Improved business momentum

Fixed Income and Equities performance by region

EMEA

Fixed Income

Strong performance in Rates and Credit (flow and structured) Uptick in cross-divisional business, including M&A related flows in FX and structured transactions with Investment Banking clients

Equities

Completed notable large corporate transactions

Japan

Fixed Income

Continued momentum in Credit and FX, supported by flows from new products and expanded client base Steady performance in Rates

Equities

Relatively resilient execution services Prime brokerage performing consistently Further collaboration with Retail

AEJ

Fixed Income

Record quarter for Macro franchise (local markets FX and Rates flow products)

Equities

Cash Equities revenues contributed to earnings as Program Trading improved Continued collaboration with Investment Banking

Americas

Fixed Income

Further diversification of business portfolio, with robust turnaround in FX

Securitized Products rebounding from significantly weaker Q2

Equities

Cash Equities remained firm

Enhance research coverage and profile among target clients

LOGO

Wholesale: Investment Banking

Net revenue and income (loss) before income taxes

(billions of yen)

FY2010/11 FY2011/12

QoQ YoY

3Q 4Q 1Q 2Q 3Q

Investment Banking (gross)1 61.9 54.4 32.3 23.8 45.1 +90% -27%

Allocation to other divisions 25.6 25.1 13.4 12.3 21.7 +76% -15%

Investment Banking (net) 36.2 29.3 18.9 11.5 23.4 2.0x -35%

Other -5.1 20.1 -7.7 -4.8 34.0 - -

Net revenue 31.1 49.4 11.2 6.7 57.4 8.6x +84%

Non-interest expenses 33.5 31.5 31.8 31.2 28.0 -10% -17%

Income (loss) before income

taxes -2.4 17.9 -20.6 -24.5 29.4 - -

(1) Gross revenue in Investment Banking excluding

(2) Source: Thomson Reuters (Jan 1, 2011 –Dec 31, 2011); M&A includes real-estate related acquisitions.

(3) Source: Thomson DealWatch (Jan 1, 2011 –Dec 31, 2011); includes self-funded.

Key points

Gross revenue1: Y45.1bn (+90% QoQ; -27% YoY)

Income before income taxes: Y29.4bn

Significant revenue increase on a quarterly basis

– Revenue growth driven by both Japan and the International business

– Globally focused on traditional as well as solutions business

– Won and completed cross border deals out of the home market

– Booked revenues in private equity business

– Increased revenues together with significant cost reductions led to

improved productivity and pretax profitability

Japan

– Revenues driven by DCM transactions for Japanese and

international issuers and by M&A, including cross-border deals.

– League table rankings: #1 ECM (30.3%)2, #1 DCM (25.2%)3, #1

M&A (37.1%)2

EMEA

– Joint bookrunner on various ECM/DCM deals for European financial

institutions

– Solutions products were strong revenue drivers amid a decline in the

overall market fee pool

AEJ

– M&A deals contributed to revenue

Americas

– Booked revenues from solutions and financial sponsor-related

businesses

LOGO

Investment Banking: Global revenues increased in difficult environment

Revenue1 growth driven by global expansion in line with client needs

Japan

International

+61% +31% +120%

Japan

International

Supporting international expansion of Japanese corporates

- Continued to build track-record in Japan-related cross-border M&A

Global collaboration backed by relatively stable domestic market

- Samurai and Uridashi issuances

- Nexon: Joint global coordinator on listing TSE First Section (Y98bn)

Won mandates from European financial institutions for financing deals driven by tougher capital rules

- Rabobank: Tier 1 capital securities ($2bn)

- Banca Popolare di Milano: rights issue (€800m)

Delivered products and services tailored to client needs - M&A-related solutions (FX/rates hedging, etc.) - Asset and liability management exercises

- Insurance solutions

(1) Gross revenue in Investment

LOGO

Non-interest expenses

Full year Quarter

Other

Business development expenses

Occupancy and related depreciation

Information processing and communications

Commissions and floor brokerage

Compensation and benefits

(Reference)

Excl. newly consolidated entities

(billions of yen) 1,200

1,000 800 600 400 200

400

300

200

Compensation and benefits 345.9 366.8 491.6 526.2 519.0 143.1 127.1 136.3 142.6 127.8 -10.4%

Commissions and floor brokerage 50.8 90.2 73.7 86.1 92.1 24.0 23.0 24.1 22.9 22.5 -1.8%

Information processing and 110.0 135.0 155.0 175.6 182.9 44.2 47.8 43.5 43.5 46.4 6.6%

communications

Occupancy and related depreciation 61.3 64.8 78.5 87.8 87.8 20.5 21.7 20.7 26.4 26.2 -0.7%

Business development expenses 38.1 38.1 31.6 27.3 30.2 7.4 8.8 9.3 12.3 12.7 3.2%

Other 166.5 157.2 262.6 142.5 125.4 28.8 33.5 62.1 98.5 134.9 37.0%

Total 772.6 852.2 1,092.9 1,045.6 1,037.4 268.1 262.0 296.0 346.2 370.5 7.0%

772.6

852.2

(billions of yen)

FY2011.3 FY2012.3

FY06/07 FY07/08 FY08/09 FY09/10 FY10/11 QoQ

3Q 4Q 1Q 2Q 3Q

1,092.9

1,045.6 1,037.4

268.1

262.0

296.0

346.2

370.5

Key points

Non-interest expenses: Y370.5bn

(+7% QoQ)

Excluding newly consolidated entities, non-interest expenses declined approx. 4% QoQ

Compensation and benefits: -10% QoQ - Diligent cost control

Other expenses: +37% QoQ

- Primarily due to higher SG&A expenses (COGS) at newly consolidated entities

LOGO

Progress of cost reduction program

Timeline of $1.2bn cost reduction program Progress to Dec 31, 2011 On schedule

Total of $1.2bn FY2011/12 3Q FY2011/12 4Q FY2012/13 2H

Retail, Retail,

AM 100% Retail and Asset Management

20% AM

– Reduced SG&A costs and business

development expenses

Nov 2011

announcement Wholesale: Personnel expenses

Wholesale: 66% progress

$800m WS WS 63% 82% 100%

80% PE Personnel expenses 63%

– Headcount reduction

Wholesale: Non-personnel expenses – Postponing replacement of leavers, curbing

72% 79% 100% new hires

PE – Business efficiencies (platform integration,

$200m improved productivity)

July 2011 WS

announcement NPE Wholesale: Total Non-personnel expenses NPE 37%

$400m $200m 66% 81% 100% – Controlling IT system expenses

– Costs down due to headcount reduction

Total cost By division

reduction

LOGO

Robust financial position

Balance sheet related indicators and capital ratios

Total assets Y33.5trn

Shareholders Y2.1trnequity

Gross leverage 16.2x

Net leverage1 10.1x

Level 3 assets (net)2 Y0.7trn

Liquidity Y5.5trn

(billions of yen)

Preliminary Sep 30 Dec 31

(Basel 2) (Basel 2.5)

Tier 1 2,050 2,057

Tier 2 449 323

Tier 3 132 302

Total capital 2,530 2,466

RWA 12,899 15,887

Tier 1 ratio 15.8% 12.9%

Tier 1 common raio3 13.7% 11.1%

Total capital ratio 19.6% 15.5%

(1) Net leverage: Total assets minus securities purchased under agreements to resell and securities borrowed, divided by Nomura Holdings

(2) Preliminary.

(3) Tier 1 common ratio is defined as Tier 1 capital minus minority interest divided by risk-weighted assets.

Leverage ratio1

(x) 22.0

18.0 14.0 10.0 6.0

FY2010/11 FY2011/12

3Q 4Q 1Q 2Q 3Q

Gross leverage ratio Net leverage ratio

16.2

10.1

Level 3 assets2 and net level 3 assets/Tier 1 capital

(billions of yen) 2,000

1,500 1,000 500 0

Level 3 assets Net Level 3 Assets

Net Level 3 Assets / Tier 1 Capital

80%

FY2010/11 FY2011/12

3Q 4Q 1Q 2Q 3Q

43%

37%

35%

36%

LOGO

Tier 1 capital ratio and risk-weighted assets

Sep 2011 vs. Dec 2011

Reference Preliminary

Tier 1 ratio

Tier 1 common ratio

15.8%

13.7%

12.2%

10.5%

12.9%

11.1%

RWA

(billions of yen)

12,899

+3,800

As of Sep 2011 (Basel 2)

Incease of market risk to comply with Basel 2.5

As of Sep 2011 (Basel 2.5)

Credit risk

Market risk

As of Dec 2011 (Basel 2.5)

Approx. 16,700

-450

-350

Main reason for change:

- Sale of private equity investment

- Reduced trading position, etc.

15,887

LOGO

15% 16% 15% 15% 17% Bank lending

Long term Senior loans

10% 10% market

debt due

7% 70 72 70 72 within one Subordinated

Short term loans

year

debt 11% Subordinated

53 21% bonds/Retail Senior/Retail bonds

Euro MTN/Yen Retail market

26 26

21 Long term

debt Euro MTN/Other

68% Sub bonds/Wholesale Wholesale

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Jun 2011 Sep 2011 Dec 2011 Senior/Institutional bonds market

(1) Trading assets and related: Reverse repo, securities, derivatives, etc. Trading liabilities and related: Repo, securities loaned, derivatives, liabilities, etc.

(2) Definition differs from financial disclosures cash deposits reflecting portion of liquidity portfolioLiquidityexcludes segregatedManagement’sclient funds. view. Senior/Wholesale Cash and bonds

(3) Redemption schedule is individually estimated by considering the probability of redemption under certain stressed scenarios.

(4) Mostly funds deposited with the Bank of Japan

Structurally stable balance sheet

Balance sheet Structurally stable balance sheet

(Dec 31, 2011) Assets Liabilities and equity – 75% of assets are highly liquid trading and related assets matched to trading

and related liabilities through repos etc (matched regionally and by currency)

– Other assets are funded by equity and long term debt

Trading liabilities Approx.

Approx. Trading assets and and related1 54% Ample liquidity portfolio

75% related1

– 17% of total assets

Short term borrowing – Managed using reverse repos mainly in Japan/US/German/UK government

Other liabilities bonds and cash and cash equivalents4.

Cash and cash deposits – To respond to changes in the operating environment, we maintain a liquidity

Long term borrowing portfolio surplus without the need for additional unsecured funding for over

Other assets one year

Total equity

Funding and liquidity

LOGO

Exposure to European peripheral countries

GIIPS country exposure (as of Dec 31, 2011)

(US$m)

Total

Net inventory 1 Of which, exposure matures within 6 months

Of which, exposure matures after 6 months

Total

Net counter party Counter party 2

Of which, reserve / hedges

Net exposure total

Change from Sep 2011

Greece -4 -47 43 46 112 -66 42 -5

Ireland 509 378 131 4 7 -3 513 205

Italy 591 1,080 -489 212 545 -333 803 -2,012

Portugal -115 -18 -97 16 161 -144 -99 -19

Spain 41 24 17 218 339 -122 259 -206

European

peripheral 1,022 1,418 -396 496 1,164 -668 1,518 -2,036

countries –Total

Peripheral Europe net country exposure of $1.52bn as of the end of December

Reduced by $2.04bn (57%) from Sep ($3.55bn)

Italy accounts for 53% of net country exposure ($800m)

Reduced by $2.01bn (71%) from Sep ($2.81bn)

Inventory is all trading assets marked to market

Inventory, both long and short positions

Net counterparty exposure (i.e. repurchase transactions, securities lending and OTC derivatives) less collateral.

LOGO

Financial Supplement

LOGO

Consolidated balance sheet

(billions of yen)

Mar. 31, 2011

Dec. 31, 2011

Increase (Decrease)

Assets Liabilities

Total cash and cash deposits 2,150 1,770 (381) Short-term borrowings 1,167 1,307 140

Total payables and deposits 2,104 1,949 (155)

Total loans and receivables 2,228 2,548 320 Collateralized financing 13,686 11,896 (1,791)

Trading liabilities 8,689 6,223 (2,466)

Collateralized agreements 15,156 12,604 (2,552) Other liabilities 552 1,132 579

Long-term borrowings 8,403 8,641 238

Total trading assets1 and

private equity investments 15,242 12,872 (2,370) Total liabilities 34,601 31,147 (3,454)

Total other assets 1,916 3,701 1,784 Equity

Total Nomura shareholders’ equity 2,083 2,061 (21)

Noncontrolling interest 9 286 277

Total assets 36,693 33,495 (3,198) Total liabilities and shareholders’ equity 36,693 33,495 (3,198)

1. Including securities pledged as collateral.

LOGO

Value at risk

Definition

99% confidence level (2.33 standard dev.)

1-day time horizon for outstanding portfolio

Inter-product price fluctuations considered

From April 1 to December 31, 2011 (billions of yen)

Maximum: 9.7

Minimum: 4.9

Average: 6.5

(billions of yen) (billions of yen) Mar. 31, 2007 Mar. 31, 2008 Mar. 31, 2009 Mar. 31, 2010 Mar. 31, 2011 Jun. 30, 2011 Sep. 30, 2011 Dec. 31, 2011

Equity 4.7 4.2 3.8 2.6 1.8 1.6 1.9 1.5

Interest rate 3.7 4.7 6.7 4.4 4.1 4.3 4.0 5.0

Foreign exchange 1.4 8.0 8.7 10.5 4.5 3.8 2.8 3.5

Sub-total 9.8 16.9 19.2 17.5 10.4 9.7 8.8 10.0

Diversification benefit -3.6 -6.8 -7.5 -5.0 -4.1 -3.7 -3.6 -3.6

VaR 6.2 10.1 11.7 12.6 6.3 6.0 5.2 6.4

LOGO

Consolidated financial highlights

Net income loss)

ROE (%)

Full year (billions of yen)

400 20% 8.3% 200 10% 175.8 67.8 28.7 0 0% 3.7% .4% -67.8 -200 -10%-400 -20% -600 -30% -800 -708.2 -40%

Quarter (billions of yen) 40 4% 3.4%

30 3% 17.8 17.8 20 13.4 11.9 2% 10 1.4% 1%

1.1%

0 0%

-10 -1%

-20 -2%

-30 -3%

-40 -4%

-50 -46.1 -5%

FY2010/11 FY2011/12

FY06/07 FY07/08 FY08/09 FY09/10 FY10/11

3Q 4Q 1Q 2Q 3Q

Net revenue 1,091.1 787.3 312.6 1,150.8 1,130.7 295.9 299.4 330.4 301.6 404.9

Income (loss) before income taxes 318.5 -64.9 -780.3 105.2 93.3 27.8 37.4 34.4 -44.6 34.5

Net income (loss) attributable to Nomura 175.8 -67.8 -708.2 67.8 28.7 13.4 11.9 17.8 -46.1 17.8

Holdings, Inc. (“NHI”) shareholders

Total Nomura shareholders’ equity 2,185.9 1,988.1 1,539.4 2,126.9 2,082.8 2,061.5 2,082.8 2,101.7 2,037.6 2,061.5

ROE (%)1 8.3% - - 3.7% 1.4% 1.1% 1.4% 3.4% - -

Basic-Net income (loss) attributable to 92.25 -35.55 -364.69 21.68 7.90 3.72 3.30 4.93 -12.64 4.87

NHI shareholders per share(yen)

Shareholders’ equity per share (yen) 1,146.23 1,042.60 590.99 579.70 578.40 572.57 578.40 583.27 556.52 562.83

*1 Quarterly ROE is calculated using annualized year-to-date net income.

Note: Net income (loss) attributable to Nomura Holdings was previously reported as Net income (loss).

LOGO

Consolidated income

Full year Quarter

(billions of yen) FY2010/11 FY2011/12

FY06/07 FY07/08 FY08/09 FY09/10 FY10/11

3Q 4Q 1Q 2Q 3Q

Revenue

Commissions 337.5 404.7 306.8 395.1 405.5 100.0 103.8 96.8 85.9 74.0

Fees from investment banking 99.3 85.1 55.0 121.3 107.0 34.0 27.8 13.8 13.8 17.2

Asset management and portfolio service fees 146.0 189.7 140.2 132.2 143.9 37.1 38.3 39.1 36.7 33.4

Net gain on trading 290.0 61.7 -128.3 417.4 336.5 104.9 68.7 67.5 26.0 80.1

Gain (loss) on private equity investments 47.6 76.5 -54.8 11.9 19.3 -2.4 23.6 -6.0 -2.3 34.6

Interest and dividends 981.3 796.5 331.4 235.3 346.1 106.9 93.5 133.1 107.3 103.1

Gain (loss) on investments in equity securities -20.1 -48.7 -25.5 6.0 -16.7 2.1 -2.8 -0.6 -2.5 -2.8

Private equity entities product sales 100.1 - - - - - - - - -

Other 67.4 28.2 39.9 37.5 43.9 3.4 12.2 83.4 113.0 141.9

Total revenue 2,049.1 1,593.7 664.5 1,356.8 1,385.5 386.0 365.0 427.0 377.8 481.5

Interest expense 958.0 806.5 351.9 205.9 254.8 90.2 65.6 96.6 76.3 76.6

Net revenue 1,091.1 787.3 312.6 1,150.8 1,130.7 295.9 299.4 330.4 301.6 404.9

Non-interest expenses 772.6 852.2 1,092.9 1,045.6 1,037.4 268.1 262.0 296.0 346.2 370.5

Income (loss) before income taxes 318.5 -64.9 -780.3 105.2 93.3 27.8 37.4 34.4 -44.6 34.5

Net income (loss) 175.8 -67.8 -708.2 67.8 28.7 13.4 11.9 17.8 -46.1 17.8

Note: Certain reclassifications of previously reported amounts have been made to conform to the current year presentation.

LOGO

Main revenue items

Commissions

Fees from Investment Banking

Asset Management and portfolio service fees

Full year Quarter

FY2010/11 FY2011/12

(billions of yen) FY06/07 FY07/08 FY08/09 FY09/10 FY10/11 3Q 4Q 1Q 2Q 3Q

Stock brokerage commissions 98.3 75.1 50.8 55.3 51.4 12.7 16.3 8.7 9.2 7.0

(retail)

Stock brokerage commissions 73.2 166.6 144.7 140.3 144.6 35.9 37.7 34.2 34.4 32.3

(other)

Other brokerage commissions 6.8 9.3 7.9 8.0 11.5 2.3 5.3 2.5 3.2 2.0

Commissions for distribution of 120.5 121.2 75.9 165.9 166.4 39.8 34.8 43.1 31.0 24.9

investment trusts

Other 38.6 32.4 27.5 25.5 31.6 9.5 9.7 8.2 8.2 7.8

Total 337.5 404.7 306.8 395.1 405.5 100.0 103.8 96.8 85.9 74.0

Equity underwriting and distribution 56.6 32.1 13.2 74.9 49.8 21.8 9.8 2.7 2.1 4.2

Bond underwriting and distribution 15.3 13.4 11.9 16.6 26.3 4.8 6.8 3.4 5.0 4.5

M&A / financial advisory fees 26.7 37.8 26.7 29.2 27.1 6.8 8.4 7.3 6.4 7.5

Other 0.7 1.8 3.1 0.5 3.9 0.6 2.8 0.3 0.4 1.1

Total 99.3 85.1 55.0 121.3 107.0 34.0 27.8 13.8 13.8 17.2

Asset management fees 106.3 150.3 104.1 97.6 106.7 27.8 28.7 29.5 27.8 24.9

Administration fees 24.0 21.7 21.3 19.4 21.0 5.0 4.9 4.8 4.5 4.3

Custodial fees 15.7 17.7 14.7 15.3 16.3 4.3 4.7 4.7 4.4 4.2

Total 146.0 189.7 140.2 132.2 143.9 37.1 38.3 39.1 36.7 33.4

LOGO

Adjustment of consolidated results and segment results: Income (loss) before income taxes

(billions of yen)

Retail Asset Management Wholesale Three Business segments total Other Segments total

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

Effect of consolidation/deconsolidation of certain private equity investee companies

Total

Full year Quarter

FY2010/11 FY2011/12

FY06/07 FY07/08 FY08/09 FY09/10 FY10/11

3Q 4Q 1Q 2Q 3Q

160.9 122.3 18.2 113.4 101.2 23.0 17.7 22.0 10.7 10.1

36.3 31.1 4.1 15.2 20.0 5.6 6.3 7.4 4.7 4.2

156.0 -150.1 -717.3 175.2 6.7 10.8 29.4 -14.9 -73.1 37.8

353.2 3.3 -695.0 303.8 127.9 39.4 53.4 14.6 -57.7 52.2

24.0 -18.1 -62.1 -207.9 -17.8 -13.3 -12.9 21.0 15.4 -15.2

377.3 -14.7 -757.1 95.8 110.2 26.1 40.5 35.6 -42.3 36.9

-38.2 -50.2 -23.1 9.4 -16.9 1.7 -3.0 -1.3 -2.4 -2.5

-21.5 - - - - - - - - -

318.5 -64.9 -780.3 105.2 93.3 27.8 37.4 34.4 -44.6 34.5

Gain (loss) on investments in equity securities, our share of equity in the earnings (losses) of affiliates, impairment losses on long-lived assets, corporate items and other financial adjustments are included as

“Other” operating results outside business segments in our segment information.

The defined contribution pension plan business in Asset Management was integrated to Other business in the second quarter of the fiscal year ended March 31, 2009. Certain reclassifications of previously reported amounts have been made to conform to the current presentation.

Nomura Bank (Luxembourg) S.A. in Asset Management was integrated to Other business in April 2011. Certain reclassifications of previously reported amounts have been made to conform to the current presentation.

LOGO

Segment

Income (loss) before income taxes

Full year Quarter

(billions of yen) (billions of yen)

40 24.0 40

21.0 15.4

0 0

-40 -18.1 -17.8 -13.3 -12.9 -15.2 -40

-80 -62.1 -80

-120 -120

-160 -160

-200 -200

-207.9

-240 -240

FY2010/11 FY2011/12

FY06/07 FY07/08 FY08/09 FY09/10 FY10/11

3Q 4Q 1Q 2Q 3Q

Net gain (loss) related to economic -30.0 11.4 28.0 3.3 2.3 5.2 -2.1 -1.5 4.2 7.7

hedging transactions

Realized gain on investments in equity 18.1 1.5 -2.4 -3.4 0.2 0.4 0.3 0.7 -0.2 -0.3

securities held for operating purposes

Equity in earnings of affiliates 53.2 4.7 -0.7 7.8 9.0 1.4 5.3 3.5 2.0 1.3

Corporate items -11.1 -13.4 -70.5 -83.3 -33.3 -15.7 -20.7 12.8 -8.4 -28.9

Others* -6.2 -22.3 -16.5 -132.3 4.0 -4.6 4.3 5.6 17.8 4.9

Income (Loss) before income taxes 24.0 -18.1 -62.1 -207.9 -17.8 -13.3 -12.9 21.0 15.4 -15.2

* Businesses not included in the three business divisions (Nomura Trust & Banking, etc.) are included in others.

1: The defined contribution pension plan business in Asset Management was integrated to Other business in the second quarter of the fiscal year ended March 31, 2009. Certain reclassifications of previously reported

amounts have been made to conform to the current presentation.

2: Net gain (loss) on trading related to economic hedging transactionsing transactions”was reclassifiedfrom the fourthas “Netquartergain of

net gain (loss) related to economic hedging transactions not included in net gain (loss) on trading. In addition, net gain (loss) on trading from the change in own credit of certain structured notes issued, which was

previously classified as “Net gain (loss) on trading related. The reclassificationsto economicof previously reportedhedgingamounts have transactions”,been made to conform to the has

current year presentation.

3: Nomura Bank (Luxembourg) S.A. in Asset Management was integrated to Other business in April 2011. Certain reclassifications of previously reported amounts have been made to conform to the current presentation.

LOGO

Retail related data (1)

Full year Quarter

(billions of yen) FY2010/11 FY2011/12

FY06/07 FY07/08 FY08/09 FY09/10 FY10/11 QoQ YoY

3Q 4Q 1Q 2Q 3Q

Commissions 251.4 225.9 151.0 238.9 244.8 60.2 58.8 58.7 48.2 38.7 -19.7% -35.7%

Sales credit 96.8 94.2 71.4 63.8 52.8 13.0 13.2 15.2 13.0 15.2 16.3% 16.7%

Fees from investment banking 24.0 14.9 13.4 33.6 42.3 11.0 10.7 6.2 9.5 13.7 44.5% 24.7%

Investment trust administration fees and other 47.5 59.7 50.9 47.3 48.5 12.2 12.4 12.9 12.3 10.9 -11.1% -10.6%

Net interest revenue 20.4 7.3 5.2 4.7 4.1 1.1 1.2 1.2 1.0 1.2 26.6% 11.5%

Net revenue 440.1 402.0 291.9 388.3 392.4 97.5 96.2 94.2 84.0 79.7 -5.1% -18.2%

Non-interest expenses 279.3 279.7 273.6 274.9 291.2 74.5 78.6 72.2 73.3 69.6 -5.0% -6.5%

Income before income taxes 160.9 122.3 18.2 113.4 101.2 23.0 17.7 22.0 10.7 10.1 -5.9% -56.1%

Domestic distribution volume of investment trusts1 9,846.9 6,825.1 9,713.2 9,473.5 2,258.8 2,312.9 2,642.7 2,081.8 1,827.5 -12.2% -19.1%

Bond investment trusts 3,681.8 2,731.6 2,380.1 2,641.8 650.1 718.9 787.6 647.3 691.3 6.8% 6.3%

Stock investment trusts 4,816.1 2,969.3 6,165.7 5,606.9 1,327.4 1,342.9 1,577.9 1,203.1 956.9 -20.5% -27.9%

Foreign investment trusts 1,349.0 1,124.2 1,167.4 1,224.8 281.3 251.0 277.3 231.4 179.3 -22.5% -36.3%

Other

Accumulated value of annuity insurance policies 990.4 1,205.3 1,413.3 1,609.2 1,697.3 1,675.2 1,697.3 1,722.7 1,756.4 1,780.4 1.4% 6.3%

Sales of JGBs for individual investors

(transaction base) 615.2 292.3 109.6 22.2 32.8 10.7 15.8 36.7 102.9 78.9 -23.3% 7.4x

Retail foreign currency bond sales 677.1 954.0 867.4 1,080.3 1,565.6 328.7 388.2 414.0 439.7 452.2 2.9% 37.6%

Nomura Securities.

LOGO

Retail related data (2)

Stock brokerage commissions and commissions for distribution of investment trusts1

Stock brokerage commissions

Commissions for distribution of investment trusts

Stock brokerage commissions

Full year Quarter

(billions of yen) (billions of yen)

180

150 60

120 50

0 0

FY2010/11 FY2011/12

FY06/07 FY07/08 FY08/09 FY09/10 FY10/11 QoQ YoY

3Q 4Q 1Q 2Q 3Q

98.3 75.1 50.8 55.3 51.4 12.7 16.3 8.7 9.2 7.0 -23.9% -45.0%

Commissions for distribution of investment trusts1

124.7 124.5 79.8 168.8 170.1 40.7 35.7 44.1 32.0 25.6 -20.0% -37.1%

1. Nomura Securities.

LOGO

Retail related data (3)

Retail client assets

Full year Quarter

(trillions of yen)

Other

Overseas mutual funds Bond investment trusts Stock investment trusts Domestic bonds Foreign currency bonds Equities

100

85.2

80 72.2 73.5

70.6 70.4

66.1 65.0 59.3

Mar. 31, 2007 Mar. 31, 2008 Mar. 31, 2009 Mar. 31, 2010 Mar. 31, 2011 Jun. 30, 2011 Sep. 30, 2011 Dec. 31, 2011

Equities 48.5 37.2 28.6 39.2 35.8 35.4 32.6 31.8

Foreign currency bonds 3.3 2.7 5.5 5.6 5.9 5.9 5.7 5.9

Domestic bonds 16.4 16.5 13.0 13.4 12.8 12.8 13.1 12.7

Stock investment trusts 7.4 7.3 5.0 7.3 8.3 8.5 7.0 6.9

Bond investment trusts 4.7 4.4 4.0 4.0 4.1 4.2 4.2 4.2

Overseas mutual funds 2.0 1.7 1.4 1.6 1.5 1.5 1.4 1.4

Other 3 2.9 2.5 1.9 2.2 2.3 2.2 2.1 2.1

Total 85.2 72.2 59.3 73.5 70.6 70.4 66.1 65.0

1. Euroyen bonds have been moved from domestic bonds to foreign currency bonds from the third quarter of the fiscal year ended March 31, 2009.

2. Includes CBs and warrants.

3. Includes annuity insurance.

LOGO

Retail related data (4)

Retail client assets: Net asset inflow1

Full year Quarter

(billions of yen) (billions of yen)

8,000 6,000

5,000

5,975

6,000

5,279

4,868 4,928 4,000

3,942

4,000 3,000

2,122

2,000

847 1,107

1,000

250

0 0

FY2010/11 FY2011/12

FY2006/07 FY2007/08 FY2008/09 FY2009/10 FY2010/11

3Q 4Q 1Q 2Q 3Q

1. Retail client assets exclude portion from regional financial institutions.

Note: Net asset inflow = asset inflow – asset outflow.

LOGO

Retail related data (5)

From December 2011, number of accounts refers to total of Nomura Home Trade and Net & Call accounts.

IT share is the percentage of trades via Nomura Home Trade and our Telephone Answer service comprising the total of cash stock transactions and kabushiki-mini-toshi (odd lot stock investment).

Number of accounts

(Thousands)

New Individual accounts / IT share2 Mar. 31, 2007 Mar. 31, 2008 Mar. 31, 2009 Mar. 31, 2010 Mar. 31, 2011 Jun. 30, 2011 Sep. 30, 2011 Dec. 31, 2011

Accounts with balance Accounts with balance 3,953 4,165 4,467 4,883 4,936 4,945 4,954 4,966

Equity holding accounts Equity holding accounts 1,853 2,027 2,347 2,572 2,695 2,696 2,703 2,707

Nomura Home Trade / Net & Call accounts1 Nomura Home Trade / Net & Call accounts1 2,243 2,765 3,095 3,189 3,328 3,348 3,369 3,745

FY06/07 FY07/08 FY08/09 FY09/10 FY10/11 FY2010/11 FY2010/11 FY2011/12 FY2011/12 FY2011/12

FY06/07 FY07/08 FY08/09 FY09/10 FY10/11 3Q 4Q 1Q 2Q 3Q

New individual accounts (thousands) New individual accounts (thousands) 417 580 608 336 326 81 69 69 53 50

IT share2 IT share2

No. of orders 55% 57% 59% 58% 53% 43% 58% 58% 59% 56%

Transaction value 27% 29% 29% 29% 27% 19% 31% 32% 32% 29%

LOGO

Asset Management related data (1)

FY2010/11 FY2011/12

(billions of yen) FY06/07 FY07/08 FY08/09 FY09/10 FY10/11 QoQ YoY

3Q 4Q 1Q 2Q 3Q

Net revenue 80.7 81.1 51.9 62.1 66.5 17.3 17.3 18.8 16.0 15.3 -4.1% -11.4%

Non-interest expenses 44.4 50.0 47.8 46.8 46.5 11.7 11.0 11.4 11.2 11.1 -1.6% -5.5%

Income before income taxes 36.3 31.1 4.1 15.2 20.0 5.6 6.3 7.4 4.7 4.2 -10.0% -23.9%

1. The defined contribution pension plan business in Asset Management was integrated to other business in the second quarter of the fiscal year ended March 31, 2009. Certain reclassifications of previously reported amounts

have been made to conform to the current presentation.

2. Nomura Bank (Luxembourg) S.A. in Asset Management was integrated to Other business in April 2011. Certain reclassifications of previously reported amounts have been made to conform to the current presentation.

Total assets under management1

Full year Quarter

(trillions of yen)

27.0 25.8

23.4 24.7 25.3

25 22.7 22.6

20.2

Mar. 31, 2007 Mar. 31, 2008 Mar. 31, 2009 Mar. 31, 2010 Mar. 31, 2011 Jun. 30, 2011 Sep. 30, 2011 Dec. 31, 2011

Total assets under management of Nomura Asset Management, Nomura Corporate Research and Asset Management, Nomura Funds Research and Technologies, Nomura Asset Management Deutschland KAG , and Nomura Funds Research and Technologies America, Nomura Private Equity Capital. Adjusted for asset overlap amongst group companies. Nomura Funds Research and Technologies America data as of end of November 2011.

LOGO

Asset Management related data (2)

Based on reporting standards for The Investment Trusts Association, Japan and the Japan Securities Investment Advisers Association.

Source: Investment Trusts Association, Japan

Nomura Asset Management assets under management1

Domestic public investment trust market and

Nomura Asset Management market share2

Nomura Asset Management investment advisory assets1

Nomura Asset Management net asset inflow1

(trillions of yen)

Mar. 31, 2007 Mar. 31, 2008 Mar. 31, 2009 Mar. 31, 2010 Mar. 31, 2011 Jun. 30, 2011 Sep. 30, 2011 Dec. 31, 2011

Public stock investment trusts 10.8 9.8 6.5 8.1 9.4 9.5 8.1 8.0

Public bond investment trusts 5.8 5.3 4.8 4.8 4.8 4.8 4.6 4.6

Privately placed investment trusts 2.2 2.0 1.6 1.7 1.7 1.7 1.5 1.5

Investment trusts Investment trusts 18.8 17.2 13.0 14.7 15.9 16.0 14.2 14.1

Mar. 31, 2007 Mar. 31, 2008 Mar. 31, 2009 Mar. 31, 2010 Mar. 31, 2011 Jun. 30, 2011 Sep. 30, 2011 Dec. 31, 2011

Domestic investment advisory 3.7 4.6 4.3 4.7 4.4 4.9 4.7 4.7

Overseas investment advisory 3.4 2.4 1.7 2.6 5.3 5.7 4.5 4.4

Investment advisory Investment advisory 7.1 7.1 6.0 7.3 9.7 10.6 9.2 9.1

Mar. 31, 2007 Mar. 31, 2008 Mar. 31, 2009 Mar. 31, 2010 Mar. 31, 2011 Jun. 30, 2011 Sep. 30, 2011 Dec. 31, 2011

Domestic public stock investment trusts Domestic public stock investment trusts Domestic public stock investment trusts Domestic public stock investment trusts

Market 59.4 57.7 40.4 52.6 54.2 54.6 47.3 46.8

Nomura’s share (%) 18% 17% 16% 15% 17% 17% 17% 17%

Domestic public bond investment trusts Domestic public bond investment trusts Domestic public bond investment trusts Domestic public bond investment trusts

Market 13.2 12.0 11.1 11.1 11.1 11.1 10.5 10.6

Nomura’s share (%) 44% 44% 43% 43% 43% 43% 43% 43%

FY 06/07 FY 07/08 FY 08/09 FY 09/10 FY 10/11 FY2010/11 FY2010/11 FY2011/12 FY2011/12 FY2011/12

FY 06/07 FY 07/08 FY 08/09 FY 09/10 FY 10/11 3Q 4Q 1Q 2Q 3Q

Public stock investment trusts Public stock investment trusts 3.8 2.0 0.0 -0.2 1.7 0.1 0.3 0.3 0.3 -0.1

Excluding ETFs 3.7 1.8 -0.4 0.0 1.7 0.4 0.3 0.3 0.1 -0.2

Public bond investment trusts Public bond investment trusts 0.2 -0.5 -0.5 -0.0 0.0 0.3 -0.1 0.0 -0.3 0.0

Privately placed investment trusts Privately placed investment trusts 0.7 0.2 0.1 -0.2 0.0 0.1 -0.0 -0.0 -0.0 -0.0

Net asset inflow Net asset inflow 4.6 1.7 -0.4 -0.4 1.7 0.5 0.3 0.4 -0.0 -0.1

LOGO

Wholesale related data (1)

Wholesale

Global Markets

Investment Banking

(billions of yen)

FY08/09 FY09/10 FY10/11 FY2010/11 FY2010/11 FY2011/12 FY2011/12 FY2011/12 QoQ YoY

FY08/09 FY09/10 FY10/11 3Q 4Q 1Q 2Q 3Q QoQ YoY

Global Markets -157.3 658.4 518.8 141.0 137.0 130.1 72.6 118.7 63.4% -15.8%

Investment Banking -6.4 131.1 111.7 31.1 49.4 11.2 6.7 57.4 8.6x 84.5%

Net revenue -163.6 789.5 630.5 172.2 186.3 141.2 79.3 176.2 2.2x 2.3%

Non-interest expenses 553.7 614.3 623.8 161.4 156.9 156.1 152.4 138.3 -9.2% -14.3%

Income (Loss) before income taxes -717.3 175.2 6.7 10.8 29.4 -14.9 -73.1 37.8 — 3.5x

FY08/09 FY09/10 FY10/11 FY2010/11 FY2010/11 FY2011/12 FY2011/12 FY2011/12 QoQ YoY

FY08/09 FY09/10 FY10/11 3Q 4Q 1Q 2Q 3Q QoQ YoY

Fixed Income -217.2 308.0 259.8 71.7 69.4 67.6 45.7 71.2 55.8% -0.7%

Equities 98.9 352.8 227.3 61.5 64.3 56.7 33.4 39.7 18.9% -35.4%

Other -38.9 -2.4 31.6 7.8 3.3 5.8 -6.5 7.7 — -0.4%

Net revenue -157.3 658.4 518.8 141.0 137.0 130.1 72.6 118.7 63.4% -15.8%

Non-interest expenses 417.4 486.4 499.3 127.8 125.5 124.3 121.2 110.3 -9.0% -13.7%

Income (Loss) before income taxes -574.6 172.0 19.5 13.2 11.5 5.7 -48.6 8.4 — -36.2%

FY08/09 FY09/10 FY10/11 FY2010/11 FY2010/11 FY2011/12 FY2011/12 FY2011/12 QoQ YoY

FY08/09 FY09/10 FY10/11 3Q 4Q 1Q 2Q 3Q QoQ YoY

Investment Banking (Gross) 87.6 196.1 185.0 61.9 54.4 32.3 23.8 45.1 89.8% -27.1%

Allocation to other divisions 24.1 77.2 82.6 25.6 25.1 13.4 12.3 21.7 76.4% -15.5%

Investment Banking (Net) 63.5 118.9 102.4 36.2 29.3 18.9 11.5 23.4 2.0x -35.3%

Other -69.9 12.2 9.4 -5.1 20.1 -7.7 -4.8 34.0 — -

Net revenue -6.4 131.1 111.7 31.1 49.4 11.2 6.7 57.4 8.6x 84.5%

Non-interest expenses 136.3 127.9 124.5 33.5 31.5 31.8 31.2 28.0 -10.2% -16.5%

Income (Loss) before income taxes -142.7 3.2 -12.8 -2.4 17.9 -20.6 -24.5 29.4 — -

LOGO

Wholesale related data (2)

Private equity related investments

Full year

Quarter

(billions of yen)

543.4

Mar. 31, 2007 Mar. 31, 2008 Mar. 31, 2009 Mar. 31, 2010 Mar. 31, 2011 Jun. 30, 2011 Sep. 30, 2011 Dec. 31, 2011

Japan 195.5 169.5 191.7 186.9 165.9 159.7 146.0 71.2

Europe (excluding Terra Firma) 35.7 41.4 60.0 60.4 33.5 29.2 26.8 24.7

Asia — — 3.2 3.6 3.3 3.2 2.3 2.1

Sub Total 231.2 210.9 254.9 250.9 202.7 192.0 175.1 98.0

Terra Firma 312.2 170.5 111.4 119.2 125.0 121.7 111.3 110.9

Total 543.4 381.4 366.3 370.0 327.7 313.7 286.4 208.9

600

543.4

500

400 381.4

366.3 370.0

327.7 313.7

300 286.4

208.9 200

100

LOGO

Number of employees

Excludes employees of private equity investee companies.

Figures up to March 2008 include savings advisors.

Includes Powai office in India.

Note: Headcount figures have been reclassified to include certain contract employees since September 2007. Certain reclassifications of previously reported amounts have been made to

conform to the current presentation.

Mar. 31, 2007 Mar. 31, 2008 Mar. 31, 2009 Mar.31,2010 Mar. 31,2011 Jun. 30,2011 Sep. 30,2011 Dec. 31,2011

Japan (excluding FA)1 10,667 11,561 12,929 12,857 12,829 20,263 20,105 19,882

Japan (FA)2 2,174 2,377 2,391 2,196 2,089 2,096 2,078 2,048

Europe 1,791 1,956 4,294 4,369 4,353 4,436 4,492 4,143

Americas 1,322 1,063 1,079 1,781 2,348 2,383 2,537 2,466

Asia-Pacific3 900 1,070 4,933 5,171 5,252 6,452 6,485 6,394

Total 16,854 18,026 25,626 26,374 26,871 35,630 35,697 34,933

LOGO

Nomura Holdings, Inc.