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 May 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), fourth 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: May 11, 2012	By:	/s/ Minoru Hatada
		Minoru Hatada
		Senior Managing Director

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Consolidated Results of Operations Fourth quarter, year ended March 2012

(US GAAP)

Nomura Holdings, Inc.

April 2012

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Disclaimer

This document is produced by Nomura Holdings, Inc. (“Nomura”).

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

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

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

This document contains statements that may constitute, and from time to time our management may make “forward-looking statements” within the meaning of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. Any such statements must be read in the context of the offering materials pursuant to which any securities may be offered or sold in the United States. These forward-looking statements are not historical facts but instead represent only our belief regarding future events, many of which, by their nature, are inherently uncertain and outside our control. Actual results and financial condition may differ, possibly materially, from what is indicated in those forward-looking statements. You should not place undue reliance on any forward-looking statement and should consider all of the following uncertainties and risk factors, as well as those more fully discussed under Nomura’s most recent Annual Report on Form 20-F and other reports filed with the U.S. Securities and Exchange Commission (“SEC”) that are available on Nomura’s website (http://www.nomura.com) and on the SEC’s website (http://www.sec.gov); Important risk factors that could cause actual results to differ from those in specific forward-looking statements include, without limitation, economic and market conditions, political events and investor sentiments, liquidity of secondary markets, level and volatility of interest rates, currency exchange rates, security valuations, competitive conditions and size, and the number and timing of transactions.

Forward-looking statements speak only as of the date they are made, and Nomura undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made.

The consolidated financial information in this document is unaudited.

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Outline

Presentation

Executive summary (p. 3) Overview of results (p. 4) Business segment results (p. 5) Retail (p. 6-7) Asset Management (p. 8-9) Wholesale (p. 10-14) Non-interest expenses (p. 15)

Progress of cost reduction program (p. 16) Robust financial position (p. 17) Funding and liquidity (p. 18)

Exposure to European peripheral countries (p. 19)

Financial Supplement

Consolidated balance sheet (p. 21) Value at risk (p. 22) Consolidated financial highlights (p. 23) Consolidated income (p. 24) Main revenue items (p. 25)

Adjustment of consolidated results and segment results: Income (loss) before income taxes (p. 26) Segment “Others” (p. 27) Retail related data (p. 28-32) Asset Management related data (p. 33-34) Wholesale related data (p. 35-36) Number of employees (p. 37)

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Executive summary

Highlights

FY2011/12 4Q

All business segments profitable at pretax level; Firm-wide revenues and pretax income up QoQ and YoY

– Net revenue: Y499.0bn (+23% QoQ; +67% YoY)

– Income before income taxes: Y60.8bn(+76% QoQ; +62% YoY)

– Net income1: Y22.1bn(+24% QoQ; +86% YoY)

Retail: Net revenue of Y92.4bn (+16% QoQ); Income before income taxes of Y20.3bn (+101% QoQ)

– Retail investor risk appetite recovered as the market environment improved; Revenues driven primarily by equities and stock investment trusts

Asset Management: Net revenue of Y15.7bn (+3% QoQ); Income before income taxes of Y4.1bn (-3% QoQ)

– Higher revenues driven by Y2trn increase in assets under management from December to Y24.6trn

Wholesale: Net revenue of Y159.2bn (-10% QoQ); Income before income taxes of Y12.5bn (-67% QoQ)

– Global Markets: Trading revenue increased on improved market environment; Revenue growth in EMEA and the Americas

– Investment Banking: Although revenues were down QoQ, we saw an increase in cross-border deals due to closer collaboration across regions

FY2011/12 Full year

Revenues and pretax income improved after bottoming out in 2Q

Net revenue: Y1,535.9bn (+36% YoY)

Income before income taxes: Y85.0bn(-9% YoY)

Net income1: Y11.6bn(-60% YoY)

FY2011/12

Includes results of entities newly consolidated as a result of converting Nomura Land and Building into a subsidiary

Net income1 declined by Y13.3bn due to a revision to the tax system in Japan

Retail continued to drive firm-wide earnings despite a YoY decline in revenues due to the challenging market environment Asset Management reported higher pretax income YoY by capturing new client funds and containing costs

Wholesale performance recovered in 2H after booking pretax losses in 1H due to the market slump driven by the eurozone debt crisis

(1) Net income attributable to Nomura Holdings shareholders.

Income (loss) before income taxes

(billions of yen)

34.4

34.5

60.8

-44.6

FY2011/12

1Q 2Q 3Q 4Q

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Overview of results

Highlights

(billions of yen)

FY2011/12 QoQ YoY FY2011/12 YoY

4Q(%) (%) Full year (%)

Net revenue 499.0 +23% +67% 1,535.9 +36%

Non-interest expenses 438.2 +18% +67% 1,450.9 +40%

Income before income taxes 60.8 +76% +62% 85.0 -9%

Net income1 22.1 +24% +86% 11.6 -60%

ROE2 4.2% 0.6%

(1) Net income attributable to Nomura Holdings shareholders. (2) Calculated using annualized net income for each period.

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Business segment results

Net revenue and income (loss) before income taxes

(billions of yen)

FY2011/12 FY201/12

QoQ YoY YoY

4Q Full year

Net revenue Retail 92.4 +16% -4% 350.3 -11%

Asset Management 15.7 +3% -9% 65.8 -1%

Wholesale 159.2 -10% -15% 555.9 -12%

Segment total 267.2 -1% -11% 971.9 -11%

Other1 221.8 +63% 87.2x 560.1 9.6x

Unrealized gain (loss) on

investments in equity securities 9.9 - 3.8 -

held for operating purposes

Net revenue 499.0 +23% +67% 1,535.9 +36%

Income (loss) Retail 20.3 +101% +15% 63.1 -38%

before income

taxes Asset Management 4.1 -3% -34% 20.5 +2%

Wholesale 12.5 -67% -57%(37.6) -

Segment total 36.9 -29% -31% 46.1 -64%

Other1 13.9 - 35.1 -

Unrealized gain (loss) on

investments in equity securities 9.9 - 3.8 -

held for operating purposes

Income (loss) before income

taxes 60.8 +76% +62% 85.0 -9%

(1) “Other” includes entities consolidated as a result of converting FY2012/12 4Q includes own-creditNomura and counterparty Land credit spread and valuation Building adjustment of -Y9. into 9bn.

(2) Nomura Bank (Luxembourg) S.A. in Asset Management was integrated ously reported amounts to have “Other” been made toin conform April to the current 2011. presentation. Certain

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Retail

Net revenue and income before income taxes

(billions of yen)

Full year Quarter

FY10

FY10 FY11 FY2011/12

/11 /12 /11 QoQ YoY

4Q 1Q 2Q 3Q 4Q

Net revenue 392.4 350.3 96.2 94.2 84.0 79.7 92.4 +16% -4%

Non-interest expenses 291.2 287.1 78.6 72.2 73.3 69.6 72.1 +4% -8%

Income before income 101.2 63.1 17.7 22.0 10.7 10.1 20.3 +101% +15%

taxes

Retail client assets

Key performance indicator (trillions of yen)

70.6 70.4 72.0

66.1 65.0

FY2010/11 FY2011/12

4Q 1Q 2Q 3Q 4Q

Key points

4Q results

Net revenue: Y92.4bn(+16% QoQ; -4% YoY)

Income before income taxes: Y20.3bn(+101% QoQ; +15% YoY)

Revenues and pretax income up QoQ: Retail investors showed higher risk

appetite as market conditions improved

– Expanded product offering to meet the needs of a diverse range of

investors

– Revenues driven by equities and stock investment trusts

Client franchise

– Retail client assets Y72.0trn

– Accounts with balance 4.98m

– Net asset inflows Y191.0bn (Eighth quarter of net inflows)

Sales of main investment trusts

– Nomura Australian Bond Open Premium Y301.2bn

– Nomura US High Yield Bond Fund Y120.7bn

– Nomura Asia High Yield Bond Fund Y116.9bn

– Nomura Global High Dividend Stock Premium Y72.4bn

Other sales (4Q total)

– IPOs and public offerings Y55.3bn

– Bonds (total) Y544.5bn

(of which) foreign bonds Y397.5bn

Full year results

Net revenue: Y350.3bn(-11% YoY)

Income before income taxes: Y63.1bn(-38% YoY)

Made significant contribution to firm-wide earnings despite decline in pretax income due to challenging market environment

– Net asset inflows of Y2.4trn driven by consulting-based sales approach

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Retail: Consulting-based sales

Total sales

(billions of yen)

Stocks Bonds Investment trusts Others

3,000 2,000 1,000 0

FY2010/11 FY2011/12

4Q 1Q 2Q 3Q 4Q

Eighth straight quarter of net asset inflows1

(billions of yen)

1,200

800

400

1,107

847

250

191 72

FY2010/11 FY2011/12

4Q 1Q 2Q 3Q 4Q

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

Total sales: +19% QoQ

Investment trusts: Sales outstrip market growth

– Expanded product offering, diversified asset classes and currencies

– Diversified investment strategies to match client needs

Bonds: Foreign currency and domestic bond sales both at high level despite overall decline in sales QoQ

– Foreign currency bonds: At same level as 3Q (Australian dollar, Turkish lira, others)

– Domestic bonds: Robust sales of JGBs and corporate bonds

Stocks: Sales up 40% QoQ

– Inflows through primary issues, expanded secondary business

– Booked strongest monthly sales in March

Investment trust sales outstrip pace of market growth

Quarterly investment trust sales

60% 40% 20% 0% -20% -40%

Stock investment sales reported by The Investment Trusts Association, Japan Nomura investment trust sales

FY2010/11 FY2011/12

4Q 1Q 2Q 3Q 4Q

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Asset Management

Net revenue and income before income taxes1

(billions of yen)

Full year Quarter

FY10

FY10 FY11 FY2011/12

/11 /12 /11 QoQ YoY

4Q 1Q 2Q 3Q 4Q

Net revenue 66.5 65.8 17.3 18.8 16.0 15.3 15.7 +3% -9%

Non-interest expenses 46.5 45.3 11.0 11.4 11.2 11.1 11.6 +5% +5%

Income before income 20.0 20.5 6.3 7.4 4.7 4.2 4.1 -3% -34%

taxes

Assets under management

Key performance indicator (trillions of yen)

25.3

24.7 24.6 22.7 22.6

FY2010/11 FY2011/12

4Q 1Q 2Q 3Q 4Q

Key points

4Q results

Net revenue: Y15.7bn (+3% QoQ; -9% YoY) Income before income taxes: Y4.1bn (-3% QoQ; -34% YoY

– Revenues increased QoQ as assets under management grew by Y2trn from the end of December to Y24.6trn at the end of March

Investment trust business

Developed products and diversified investment strategies in line with the changing investment environment

At inception Mar 31

– Nomura Asia High Yield Bond Fund : Y61.2bn (Jan 26) Y115.3bn

– Nomura Australian Bond Open Premium: Y104.1bn (Feb 17) Y302.2bn Size of fund has increased significantly since inception

Focused on supporting sales of the following fund through the bank channel, resulting in increased fund size and growth in regional financial institution sales network

– Emerging Bond Open Course A: Y96.8bn at end of March (2.6x QoQ)

Investment advisory business

International: Continued to see inflows from sovereign wealth funds and pension funds into Japan and Asia equities and global bonds Japan: Won mandate from major pension fund, increased client assets

Full year results

Net revenue: Y65.8bn (-1% YoY)

Income before income taxes: Y20.5bn (+2% YoY)

Navigated the difficult conditions to report higher pretax income YoY by bringing in new client funds and containing costs

(1) Nomura bank (Luxembourg) S.A. in Asset Management was integrated relassification of previously reported amounts into have “Other” been made to conform in April with the current 2011. presentation. Certain

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Asset Management: Robust investment trust business, global recognition

Fund flows in public stock investment trusts1, 2

(billions of yen)

Public stock investment trusts (exc. ETF) ETF

400 300 200 100

0 -100 -200 -300

344

311

236

33 53

-21 -19 -84 -188

FY2010/11 FY2011/12

4Q 1Q 2Q 3Q 4Q

Share of Japan public investment trust market1, 2

23.0% 22.0% 21.0% 20.0% 19.0% 18.0%

21.9% 22.0% 22.1% 21.8% 21.9%

Mar-11 Jun-11 Sep-11 Dec-11 Mar-12

(1) Nomura Asset Management only.

(2) Source: Nomura, based on data from The Investment Trust Association, Japan. (3) Based on reporting standard for Japan Securities Advisers Association.

Investment advisory assets under management1, 3

(trillions of yen)

12.0 10.0 8.0 6.0 4.0 2.0 0.0

Non-Japan Japan

5.7 5.1

5.3 4.5 4.4

4.4 4.9 4.7 4.7 4.9

Mar-11 Jun-11 Sep-11 Dec-11 Mar-12

Awards

Won Lipper Fund Awards Japan 2012 best fund awards

Three year: Three awards including for Nomura US High Yield Corporate Bond Fund Course A Fund Five year: Five awards including for High Yield Corporate Bond Open Yen Hedged (monthly distribution) Fund Ten year: Two awards including for Balance Select 50 Fund

R&I Fund Award 2012

First Prize Investment Trusts / Global Bond fund Aggregate

First Prize Two funds including for J-REIT Open, Japanese REIT Fund

Second Prize Two funds including for Global REIT Open, Global REIT Fund

Nomura Asset Management Deutschland awarded at Lipper Fund Awards Germany 2012

–Nomura Real Return Fonds

Nomura Corporate Research and Asset Management won award at Asian Investor 2011

Investment Performance Awards for the first time

–US Fixed Income High Yield

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Wholesale

Net revenue and income (loss) before income taxes

(billions of yen)

Full year Quarter

FY10

FY10 FY11 FY2011/12

/11 /12 /11 QoQ YoY

4Q 1Q 2Q 3Q 4Q

Net revenue 630.5 555.9 186.3 141.2 79.3 176.2 159.2 -10% -15%

Non-interest expenses 623.8 593.5 156.9 156.1 152.4 138.3 146.6 +6% -7%

Income (loss) before 6.7 -37.6 29.4 -14.9 -73.1 37.8 12.5 -67% -57%

income taxes

Net revenue by region1

(billions of yen)

200.0 150.0 100.0 50.0

0.0

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

20.1

43.4

55.4

40.2

AEJ

Americas

EMEA

Japan

FY2010/11 FY2011/12

4Q 1Q 2Q 3Q 4Q

Figures have been reclassified to conform with disclosure standards from FY2011/12 3Q.

Gross revenue in Investment Banking excluding

4Q results

Net revenue: Y159.2bn (-10% QoQ; -15% YoY)

Income before income taxes: Y12.5bn (-67% QoQ; -57% YoY)

–EMEA revenues of Y55.4bn at highest level in four quarters

–Americas reported strongest quarterly revenues (Y43.4bn) since April 2009

Full year results

Net revenue: Y555.9bn (-12% YoY)

Loss before income taxes: Y37.6bn

Global Markets ??Fixed Income

–Revenues increased 4% YoY, with all regions showing robust performance –Growth in flow business driven by consistent client flows –Structured business increased on strong deal flow and product innovation

Equities

–Lower volumes in major markets led to 20% YoY decline in revenues –Derivatives revenues improving with key senior leadership in place –US robust despite market conditions

Investment Banking

Gross revenue2 down 23% YoY as overall decline in global fee pool –Japan: Although ECM deals were slower, we saw strong demand from domestic and international issuers in DCM and an increase in cross-border M&A.

–International: Revenues up slightly YoY on further diversification of revenue sources

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Wholesale: Global Markets

Net revenue and income (loss) before income taxes

(billions of yen)

Full year Quarter

FY10

/11 FY2011/12

FY10 FY11 QoQ YoY

/11 /12

4Q 1Q 2Q 3Q 4Q

Fixed Income 259.8 271.2 69.4 67.6 45.7 71.2 86.6 +22% +25%

Equities 227.3 181.5 64.3 56.7 33.4 39.7 51.7 +30% -20%

Others 31.6 8.1 3.3 5.8 -6.5 7.7 1.0 -87% -69%

Net revenue 518.8 460.7 137.0 130.1 72.6 118.7 139.3 +17% +2%

Non-interest

expenses 499.3 475.0 125.5 124.3 121.2 110.3 119.1 +8% -5%

Income (loss) before 19.5 -14.3 11.5 5.7 -48.6 8.4 20.2 +140% +75%

income taxes

Key points

4Q results

Net revenue: Y139.3bn (+17% QoQ; +2% YoY)

Income before income taxes: Y20.2bn (+140% QoQ; +75% YoY)

– Trading revenue increased on improved market environment

– Income before income taxes at highest level in six quarters

Fixed Income

Net revenue: +22% QoQ

Delivered strongest quarter in FY11/12, on the back of consistent client flows and smart risk management across a diversified set of businesses

– Strong growth in global Rates; rebound in Securitized Products

– EMEA and US posted solid QoQ growth

Equities

Net revenue: +30% QoQ

– Rebound in client revenues

– Robust trading as major markets around the world recovered Revenues driven by Japan and AEJ

– Japan: Primary deals (Mazda, etc.) increased as a result of improved stock market performance

– AEJ: Derivatives business in collaboration with Investment Banking contributed to higher revenues

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Global Markets: FY2011/12 revenues by region

Equities fixed income

Japan EMEA Americas AEJ

-7%

+43%

+37%

+34%

1H 2H 1H 2H 1H 2H 1H 2H

Fixed Income Fixed Income Fixed Income Fixed Income

Robust production driven by uptick in both retail and institutional client flows

1H slightly stronger from higher demand for Non-Yen products

Equities

Cash Equities revenues remained firm for the full year

4Q revenues increased more than the rise in TSE turnover (+30% QoQ)

Rebound in run-rate in 2H from smart position management and solid deal flows in structuring

Outperformance in Credit despite market-wide slowdown

Equities

Heavily impacted by subdued market resulting from eurozone debt crisis

4Q revenues improved driven by trading

Uptick in in Securitized Products, and run-rate pick-up in Rates, main drivers of stronger 2H

Overall, franchise strengthened across all products in FY11/12

Equities

US business launched in October 2010 operating steadily and contributing to revenues

Although market turnover1 declined YoY (-12%), revenues were robust on full year basis driven by Cash Equities

Continued progress in local market expansion

Significant growth in Macro and Credit with upside from new areas of focus in Corporates

Equities

Collaboration with Investment Banking throughout the year led to expansion of derivatives business

4Q revenues in line with other regions

(1) NYSE and NASDAQ.

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Wholesale: Investment Banking

Net revenue and income (loss) before income taxes

(billions of yen)

Full year Quarter

FY10

/11 FY11/12

FY10 FY11 QoQ YoY

/11 /12

4Q 1Q 2Q 3Q 4Q

Investment Banking

(gross) 1 185.0 141.7 54.4 32.3 23.8 45.1 40.5 -10% -26%

Allocation to other 82.6 67.1 25.1 13.4 12.3 21.7 19.8 -9% -21%

divisions

Investment Banking

(net) 102.4 74.6 29.3 18.9 11.5 23.4 20.7 -12% -29%

Other 9.4 20.6 20.1 -7.7 -4.8 34.0 -0.9 — -

Net revenue 111.7 95.1 49.4 11.2 6.7 57.4 19.9 -65% -60%

Non-interest expenses 124.5 118.4 31.5 31.8 31.2 28.0 27.5 -2% -13%

Income (loss) before -12.8 -23.3 17.9 -20.6 -24.5 29.4 -7.6 — -

income taxes

Key points

4Q results

Gross revenue1: Y40.5bn (-10% QoQ; -26% YoY)

Loss before income taxes: Y7.6bn

Japan and international businesses both maintained momentum despite a decline in revenues

Revenues from ECM deals increased in each region

Closer cross-regional collaboration has led to an increase in cross- border deals

Solutions business continues to contribute to revenues in all regions

Japan

Higher revenues from ECM deals on the back of recovery in stock market performance

EMEA

Revenues driven by diverse solutions businesses such as M&A related risk hedging transactions

Executed several ECM and DCM deals for Italian and Spanish financial institutions

Advising on the top two M&A deals announced globally in 2012

AEJ

Executed Tesco Lotus real estate fund IPO ($600m) and other high- profile ECM deals

Americas

Solutions transactions for financial sponsors and financial institutions continue to be key businesses

Leveraged Finance and penetration into Brazil (e.g. bookran Schahin bond) also contributed to the highest quarterly revenues in FY11/12

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

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Investment Banking: Global business leveraging our strengths

Regional differences/ business focus

EMEA

Financial institutions and corporate clients require diverse solutions to respond to changing environment

Multi-product deals including solutions business Continue to make progress on strength in FIG sector

Japan

Relatively stable market

Solid client franchise and business platform in home market Maintain #1 ranking in main league tables1

AEJ

High economic growth Robust investment/funding needs

Increase linkage with Japan and other regions

Americas

World s largest

Financial sponsor related global business Win mandates in key sectors

Leverage regional strengths in global business

Financial institutions business

Demand capital regulations to enhance (fundraising, capital to meet asset stricter sales, Robust etc.) financial position, global platform, access to leading global investors

Natural Resources & Power sector business

One of the biggest global fee pools by sector Won several landmark mandates through our key client relationships and global collaboration

Sponsors related business

Businesses related to M&A (sale and acquisition of portfolio assets), loans, solutions, etc.

Global sector deals (Examples)

Rabobank Group

Joint-Lead Manager & Joint Bookrunner

Tier 1 capital securities $2bn Nov 2011

Xstrata / Glencore International Merger

Joint Financial Advisor to Xstrata

Announced $48.9bn Feb 2012

GDF Suez acquisition of remaining International Power shares

Joint Independent Advisor to International Power

Announced $12.9bn Mar 2012

Asahi Group Holdings acquisition of Independent Liquor

Financial Advisor to Asahi Group Holdings

Completed NZ$1.5bn Sep 2011

Apollo Global Management acquisition of Great Wolf Resort

Financial Advisor to Apollo

Announced $737m Mar 2012

Solutions business

FX hedging related to M&A deals and interest rate hedging related to fundraising Risk management transactions related to assets and liabilities

FX hedge related to acquisition by Japanese company of Asian company

Interest rate hedge for

company in Americas raising

funds

(1) Source: M&A, ECM Thomson Reuters (Jan – Dec 2011); DCM Thomson DealWatch (Apr 2011 – Mar 2012)

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Non-interest expenses

Full year Quarter

(billions of yen)

Other

Business development expenses Occupancy and related depreciation

Information processing and communications Commissions and floor brokerage

Compensation and benefits

(Reference) Excl. newly consolidated entities

1,500

1,200

900

600

300

1,450.9

1,092.9

1,045.6 1,037.4

852.2

438.2

370.5 346.2

296.0 262.0

500 400 300 200 100

FY07/08 FY08/09 FY09/10 FY10/11 FY11/12

Compensation and benefits 366.8 491.6 526.2 519.0 534.6

Commissions and floor 90.2 73.7 86.1 92.1 93.5

brokerage

Information processing and

communications 135.0 155.0 175.6 182.9 177.1

Occupancy and related 64.8 78.5 87.8 87.8 100.9

depreciation

Business development

expenses 38.1 31.6 27.3 30.2 48.5

Other 157.2 262.6 142.5 125.4 496.2

Total 852.2 1,092.9 1,045.6 1,037.4 1,450.9

FY10/11 FY11/12

4Q 1Q 2Q 3Q 4Q QoQ

127.1 136.3 142.6 127.8 128.0 0.2%

23.0 24.1 22.9 22.5 24.0 6.5%

47.8 43.5 43.5 46.4 43.7 -5.9%

21.7 20.7 26.4 26.2 27.6 5.6%

8.8 9.3 12.3 12.7 14.1 10.8%

33.5 62.1 98.5 134.9 200.8 48.9%

262.0 296.0 346.2 370.5 438.2 18.3%

Key points

4Q results

??Non-interest expenses: Y438.2bn (+18% QoQ)

– Other expenses increased 49% QoQ due to a rise in cost of goods sold at newly consolidated entities

– Excluding newly consolidated entities, non-interest expenses declined by 0.2% QoQ

Full year results

??Non-interest expenses: Y1.45trn (+40% YoY)

– Overall increase due mainly to an increase in other expenses as a result of converting Nomura Land and Building into a subsidiary in 1Q FY2011/12

– Excluding newly consolidated entities, non-interest expenses declined by approx. 5%

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Progress of cost reduction program

Timeline of $1.2bn cost reduction program

Total of $1.2bn

Nov 2011 announcement

$800m

July 2011 announcement

$400m

Retail, Retail,

AM AM

20%

WS WS

80% PE

63%

$200m

NPE

NPE 37%

$200m

Total cost By division

reduction

FY2011/12 3Q FY2011/12 4Q FY2012/13 2H

100%

Wholesale: Personnel expenses

? 63% ? 82% 100%

Wholesale: Non-personnel expenses

? 72% ? 79% 100%

Wholesale: Total

? 66% ? 81% 100%

Progress to Mar 31, 2012

? On schedule

? Retail and Asset Management

– Reduced SG&A costs and business development expenses

? Wholesale

Personnel expenses

– Headcount reduction

– Postponing replacement of leavers, curbing new hires

– Business efficiencies (platform integration, improved productivity)

Non-personnel expenses

– Controlling IT system expenses

– Costs down due to headcount reduction

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Robust financial position

Balance sheet related indicators and capital ratios

Total assets Y35.7trn

Shareholders Y2.1trn equity

Gross leverage 16.9x Net leverage1 10.4x Level 3 assets (net)2 Y0.6trn Liquidity Y5.4trn

(billions of yen)

Preliminary, Basel 2.5 basis Dec 31 Mar 31

Tier 1 2,057 2,089

Tier 2 321 320

Tier 3 304 224

Total capital 2,467 2,425

RWA 15,881 14,718

Tier 1 ratio 12.9% 14.1%

Tier 1 common ratio3 11.1% 12.2%

Total capital ratio 15.5% 16.4%

Leverage ratio1

(x) Gross leverage ratio

22.0 Net leverage ratio

18.0

16.9

14.0

10.0 10.4

6.0

FY2010/11 FY2011/12

4Q 1Q 2Q 3Q 4Q

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

(billions of yen) Level 3 assets

Net Level 3 Assets

Net Level 3 Assets / Tier 1 Capital

1,500

1,000

500

37% 35% 35% 36%

30%

60% 40% 20% 0%

FY2010/11 FY2011/12

4Q 1Q 2Q 3Q 4Q

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

(2) Preliminary.

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

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Funding and liquidity

Structurally stable balance sheet

Balance sheet

(Mar 31, 2012) Assets Liabilities and equity

Trading liabilities Approx. Approx. Trading assets and and related1 56% related1 78%

Short term borrowing Other liabilities

Cash and cash deposits

Long term borrowing Other assets Total equity

Ample liquidity for changing environment

Liquidity portfolio 2 (US$bn) % of total assets

15% 16% 15%

10% 10% 70 66

26 26

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012

??Structurally stable balance sheet

– 78% of assets are highly liquid trading and related assets that are marked to market and matched to trading and related liabilities through repos etc (matched regionally and by currency)

– Other assets are funded by equity and long-term debt

??Ample liquidity portfolio

– 15% of total assets

– Managed using reverse repos mainly in Japan/US/German/UK government bonds and cash and cash equivalents4.

– To respond to changes in the operating environment, we maintain a liquidity portfolio surplus without the need for additional unsecured funding for over one year

Unsecured funding2: 80% long-term debt; diversified funding sources

Short-term debt 20%

Long-term debt due within one year 11%

Subordinated loans Subordinated bonds/Retail

Long-term debt 69%, Average maturity of over 6 years3

Senior loans

Senior/Retail bonds Euro MTN/Yen Euro MTN/Other

Sub bonds/Wholesale Senior/Institutional bonds Senior/Wholesale bonds

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

(2) Definition differs from financial disclosures reflecting dity portfolio Liquidity excludes segregated Management’s client funds.

(3) Excludes long-term debt due within one year. Redemption schedule is individually estimated by considering the probability of redemption under certain stressed scenarios

(4) Mostly funds deposited with the Bank of Japan

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Exposure to European peripheral countries

GIIPS country exposure (as of Mar 31, 2012) (Preliminary)

(US$m)

Net Changes

Net inventory 1 Net counter party 2 exposure from Dec

total 2011

Of which, Of which,

Of which,

exposure exposure

Counter reserve /

Total matures matures Total 2

party hedges

within 6 after 6

months months

Greece 38 -11 50 57 106 -49 95 53

Ireland 408 276 133 11 14 -3 420 -94

Italy 983 1,724 -742 -47 431 -478 936 133

Portugal -185 -21 -164 -17 162 -179 -202 -103

Spain 84 -75 159 194 334 -140 278 19

European

peripheral

1,328 1,894 -565 198 1,047 -849 1,526 8

countries – Total

Peripheral Europe net country exposure of $1.53bn as of the end of March

Roughly flat compared to the end of December ($1.52bn)

Inventory is all trading assets marked to market

(1) Inventory, both long and short positions 19

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

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Financial Supplement

LOGO

Consolidated balance sheet

(billions of yen)

Mar. 31, Mar. 31, Increase Mar. 31, Mar 31, Increase

2011 2012 (Decrease) 2011 2012 (Decrease)

Assets Liabilities

Total cash and cash deposits 2,150 1,954 (197) Short-term borrowings 1,167 1,186 19

Total payables and deposits 2,104 2,437 334

Total loans and receivables 2,228 2,211 (16) Collateralized financing 13,686 12,519 (1,167)

Trading liabilities 8,689 7,495 (1,194)

Collateralized agreements 15,156 13,743 (1,414) Other liabilities 552 1,166 614

Long-term borrowings 8,403 8,505 102

Total trading assets1 and

private equity investments 15,242 14,124 (1,118) Total liabilities 34,601 33,308 (1,293)

Total other assets 1,916 3,666 1,750 Equity

Total Nomura shareholders’ equity 2,083 2,107 24

Noncontrolling interest 9 282 273

Total assets 36,693 35,697 (996) Total liabilities and equity 36,693 35,697 (996)

1. Including securities pledged as collateral.

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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, 2011 to March 31, 2012 (billions of yen)

??Maximum: 9.7

??Minimum: 4.9

??Average: 6.5

(billions of yen) Mar. 31, Mar. 31, Mar. 31, Mar. 31, Jun. 30, Sep. 30, Dec. 31, Mar 31,

2008 2009 2010 2011 2011 2011 2011 2012

Equity 4.2 3.8 2.6 1.8 1.6 1.9 1.5 1.4

Interest rate 4.7 6.7 4.4 4.1 4.3 4.0 5.0 6.5

Foreign exchange 8.0 8.7 10.5 4.5 3.8 2.8 3.5 2.5

Sub-total 16.9 19.2 17.5 10.4 9.7 8.8 10.0 10.4

Diversification benefit -6.8 -7.5 -5.0 -4.1 -3.7 -3.6 -3.6 -3.2

VaR 10.1 11.7 12.6 6.3 6.0 5.2 6.4 7.2

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Consolidated financial highlights

Net income

(loss)

ROE (%)

Full year

(billions of yen)

200 3.7% 10%

67.8 1.4% 0.6%

28.7 11.6

0 0%

-67.8

-200 -10%

-400 -20%

-600 -30%

-708.2

-800 -40%

Quarter

(billions of yen)

40 3.4% 4%

30 3%

22.1

20 1.4% 17.8 17.8 2%

11.9

10 0.61%

0 0%

-10 -1%

-20 -2%

-30 -3%

-40 -4%

-50 -46.1 -5%

FY2007/08 FY2008/09 FY2009/10 FY2010/11 FY2011/12

Net revenue 787.3 312.6 1,150.8 1,130.7 1,535.9

Income (loss) before income taxes -64.9 -780.3 105.2 93.3 85.0

Net income (loss) attributable to Nomura

Holdings, Inc. (“NHI”) shareholders1 -67.8 -780.2 67.8 28.7 11.6

Total Nomura shareholders’ equity 1,988.1 1,539.4 2,126.9 2,082.8 2,107.2

ROE (%)2 — 3.7% 1.4% 0.6%

Basic-Net income (loss) attributable to -35.55 -364.69 21.68 7.90 3.18

NHI shareholders per share(yen)

Shareholders’ equity per share (yen) 1,042.60 590.99 579.70 578.40 575.20

FY2010/11 FY2011/12

4Q 1Q 2Q 3Q 4Q

299.4 330.4 301.6 404.9 499.0

37.4 34.4 -44.6 34.5 60.8

11.9 17.8 -46.1 17.8 22.1

2,082.8 2,101.7 2,037.6 2,061.5 2,107.2

1.4% 3.4% — 0.6%

3.30 4.93 -12.64 4.87 6.03

578.40 583.27 556.52 562.83 575.20

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

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

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

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Consolidated income

Full year

Quarter

(billions of yen) FY2007 FY2008 FY2009 FY2010 FY2011 FY2010/11 FY2011/12

/08 /09 /10 /11 /12 4Q 1Q 2Q 3Q 4Q

Revenue

Commissions 404.7 306.8 395.1 405.5 347.1 103.8 96.8 85.9 74.0 90.4

Fees from investment banking 85.1 55.0 121.3 107.0 59.6 27.8 13.8 13.8 17.2 14.8

Asset management and portfolio service fees 189.7 140.2 132.2 143.9 144.3 38.3 39.1 36.7 33.4 35.1

Net gain on trading 61.7 -128.3 417.4 336.5 272.6 68.7 67.5 26.0 80.1 98.9

Gain (loss) on private equity investments 76.5 -54.8 11.9 19.3 25.1 23.6 -6.0 -2.3 34.6 -1.2

Interest and dividends 796.5 331.4 235.3 346.1 435.9 93.5 133.1 107.3 103.1 92.4

Gain (loss) on investments in equity securities -48.7 -25.5 6.0 -16.7 4.0 -2.8 -0.6 -2.5 -2.8 9.9

Other 28.2 39.9 37.5 43.9 563.2 12.2 83.4 113.0 141.9 225.0

Total revenue 1,593.7 664.5 1,356.8 1,385.5 1,851.8 365.0 427.0 377.8 481.5 565.4

Interest expense 806.5 351.9 205.9 254.8 315.9 65.6 96.6 76.3 76.6 66.4

Net revenue 787.3 312.6 1,150.8 1,130.7 1,535.9 299.4 330.4 301.6 404.9 499.0

Non-interest expenses 852.2 1,092.9 1,045.6 1,037.4 1,450.9 262.0 296.0 346.2 370.5 438.2

Income (loss) before income taxes -64.9 -780.3 105.2 93.3 85.0 37.4 34.4 -44.6 34.5 60.8

Net income (loss) -67.8 -708.2 67.8 28.7 11.6 11.9 17.8 -46.1 17.8 22.1

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

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

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Main revenue items

Full year

Quarter

Commissions

Fees from

Investment Banking

Asset Management and portfolio service fees

FY2010

(billions of yen) FY2007 FY2008 FY2009 FY2010 FY2011 FY2011/12

/11

/08 /09 /10 /11 /12 4Q 1Q 2Q 3Q 4Q

Stock brokerage commissions (retail) 75.1 50.8 55.3 51.4 36.0 16.3 8.7 9.2 7.0 11.1

Stock brokerage commissions (other) 166.6 144.7 140.3 144.6 132.7 37.7 34.2 34.4 32.3 31.8

Other brokerage commissions 9.3 7.9 8.0 11.5 9.4 5.3 2.5 3.2 2.0 1.8

Commissions for distribution of 121.2 75.9 165.9 166.4 136.6 34.8 43.1 31.0 24.9 37.6

investment trusts

Other 32.4 27.5 25.5 31.6 32.4 9.7 8.2 8.2 7.8 8.2

Total 404.7 306.8 395.1 405.5 347.1 103.8 96.8 85.9 74.0 90.4

Equity underwriting and distribution 32.1 13.2 74.9 49.8 14.3 9.8 2.7 2.1 4.2 5.4

Bond underwriting and distribution 13.4 11.9 16.6 26.3 14.6 6.8 3.4 5.0 4.5 1.7

M&A / financial advisory fees 37.8 26.7 29.2 27.1 27.0 8.4 7.3 6.4 7.5 5.8

Other 1.8 3.1 0.5 3.9 3.7 2.8 0.3 0.4 1.1 1.9

Total 85.1 55.0 121.3 107.0 59.6 27.8 13.8 13.8 17.2 14.8

Asset management fees 150.3 104.1 97.6 106.7 108.2 28.7 29.5 27.8 24.9 25.9

Administration fees 21.7 21.3 19.4 21.0 18.4 4.9 4.8 4.5 4.3 4.8

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

Total 189.7 140.2 132.2 143.9 144.3 38.3 39.1 36.7 33.4 35.1

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

Full year

Quarter

(billions of yen) FY2010/11 FY2011/12

FY2007/08 FY2008/09 FY2009/10 FY2010/11 FY2011/12

4Q 1Q 2Q 3Q 4Q

Retail 122.3 18.2 113.4 101.2 63.1 17.7 22.0 10.7 10.1 20.3

Asset Management 31.1 4.1 15.2 20.0 20.5 6.3 7.4 4.7 4.2 4.1

Wholesale -150.1 -717.3 175.2 6.7 -37.6 29.4 -14.9 -73.1 37.8 12.5

Three Business segments total 3.3 -695.0 303.8 127.9 46.1 53.4 14.6 -57.7 52.2 36.9

Other -18.1 -62.1 -207.9 -17.8 35.1 -12.9 21.0 15.4 -15.2 13.9

Segments total -14.7 -757.1 95.8 110.2 81.2 40.5 35.6 -42.3 36.9 50.9

Unrealized gain (loss) on investments in equity

securities held for operating purposes -50.2 -23.1 9.4 -16.9 3.8 -3.0 -1.3 -2.4 -2.5 9.9

Total -64.9 -780.3 105.2 93.3 85.0 37.4 34.4 -44.6 34.5 60.8

1. 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” operatingresults outside business segments in our segment information. Unrealized gain (loss) on investments in equity securities held for operating purposes is not included in segment information.

2. 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.

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.

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Segment “Other”

Income (loss) before income taxes

(billions of yen) (billions of yen)

40 35.1 21.0 40

15.4 13.9

0 0

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

-80 -62.1 -80

-120 -120

-160 -160

-200 -200

-207.9

-240 -240

FY2007 FY2008 FY2009 FY2010 FY2011 FY2010/11 FY2012.3

/08 /09 /10 /11 /12 4Q 1Q 2Q 3Q 4Q

Net gain (loss) related to economic 11.4 28.0 3.3 2.3 8.4 -2.1 -1.5 4.2 7.7 -2.1

hedging transactions

Realized gain (loss) on investments in 1.5 -2.4 -3.4 0.2 0.2 0.3 0.7 -0.2 -0.3 0.0

equity securities held for operating purposes

Equity in earnings of affiliates 4.7 -0.7 7.8 9.0 10.6 5.3 3.5 2.0 1.3 3.9

Corporate items -13.4 -70.5 -83.3 -33.3 -31.4 -20.7 12.8 -8.4 -28.9 -6.9

Others -22.3 -16.5 -132.3 4.0 47.3 4.3 5.6 17.8 4.9 19.0

Income (Loss) before income taxes -18.1 -62.1 -207.9 -17.8 35.1 -12.9 21.0 15.4 -15.2 13.9

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. Net gain (loss) on trading related to economic hedging transactions ing transactions” was reclassified from the fourth as “Net quarter gain 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 reclassifications to economic of previously reported hedging amounts have transactions”, been made to conform to the current year presentation.

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Retail related data (1)

Full year Quarter

(billions of yen) FY2010

FY2007 FY2008 FY2009 FY2010 FY2011 FY2011/12

/08 /09 /10 /11 /12 /11 QoQ YoY

4Q 1Q 2Q 3Q 4Q

Commissions 225.9 151.0 238.9 244.8 201.5 58.8 58.7 48.2 38.7 55.8 44.1% -5.2%

Sales credit 94.2 71.4 63.8 52.8 59.0 13.2 15.2 13.0 15.2 15.6 3.0% 18.3%

Fees from investment banking 14.9 13.4 33.6 42.3 38.2 10.7 6.2 9.5 13.7 8.7 -36.4% -18.2%

Investment trust administration fees and other 59.7 50.9 47.3 48.5 47.4 12.4 12.9 12.3 10.9 11.4 5.0% -7.5%

Net interest revenue 7.3 5.2 4.7 4.1 4.2 1.2 1.2 1.0 1.2 0.8 -32.7% -30.9%

Net revenue 402.0 291.9 388.3 392.4 350.3 96.2 94.2 84.0 79.7 92.4 15.9% -4.0%

Non-interest expenses 279.7 273.6 274.9 291.2 287.1 78.6 72.2 73.3 69.6 72.1 3.6% -8.3%

Income before income taxes 122.3 18.2 113.4 101.2 63.1 17.7 22.0 10.7 10.1 20.3 100.9% 14.8%

Domestic distribution volume of investment trusts1 9,846.9 6,825.1 9,713.2 9,473.5 8,933.9 2,312.9 2,642.7 2,081.8 1,827.5 2,381.8 30.3% 3.0%

Bond investment trusts 3,681.8 2,731.6 2,380.1 2,641.8 2,869.4 718.9 787.6 647.3 691.3 743.2 7.5% 3.4%

Stock investment trusts 4,816.1 2,969.3 6,165.7 5,606.9 5,217.8 1,342.9 1,577.9 1,203.1 956.9 1,479.9 54.7% 10.2%

Foreign investment trusts 1,349.0 1,124.2 1,167.4 1,224.8 846.6 251.0 277.3 231.4 179.3 158.7 -11.5% -36.8%

Other

Accumulated value of annuity insurance policies 1,205.3 1,413.3 1,609.2 1,697.3 1,800.8 1,697.3 1,722.7 1,756.4 1,780.4 1,800.8 1.1% 6.1%

Sales of JGBs for individual investors 292.3 109.6 22.2 32.8 281.2 15.8 36.7 102.9 78.9 62.8 -20.4% 4.0x

(transaction base)

Retail foreign currency bond sales 954.0 867.4 1,080.3 1,565.6 1,703.4 388.2 414.0 439.7 452.2 397.5 -12.1% 2.4%

1. Nomura Securities.

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Retail related data (2)

Stock brokerage commissions and commissions for distribution of investment trusts1

Full year

Quarter

(billions of yen)

Stock brokerage commissions

Commissions for distribution of investment trusts

180 150 120

FY2007 FY2008 FY2009 FY2010 FY2011 /08 /09 /10 /11 /12

FY10/11 FY2011/12

QoQ YoY

4Q 1Q 2Q 3Q 4Q

Stock brokerage commissions 75.1 50.8 55.3 51.4 36.0 16.3 8.7 9.2 7.0 11.1 58.3% -31.9%

Commissions for distribution of

investment trusts1 124.5 79.8 168.8 170.1 139.9 35.7 44.1 32.0 25.6 38.2 49.0% 6.8%

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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 80 60 40 20 0

72.2

59.3

73.5

70.6

70.4

66.1

65.0

72.0

Mar. 31, 2008

Mar. 31, 2009

Mar. 31, 2010

Mar. 31, 2011

Jun. 30, 2011

Sep. 30, 2011

Dec. 31, 2011

Mar. 31, 2012

Equities 37.2 28.6 39.2 35.8 35.4 32.6 31.8 37.2

Foreign currency bonds 1 2.7 5.5 5.6 5.9 5.9 5.7 5.9 6.2

Domestic bonds 2 16.5 13.0 13.4 12.8 12.8 13.1 12.7 12.7

Stock investment trusts 7.3 5.0 7.3 8.3 8.5 7.0 6.9 7.7

Bond investment trusts 4.4 4.0 4.0 4.1 4.2 4.2 4.2 4.4

Overseas mutual funds 1.7 1.4 1.6 1.5 1.5 1.4 1.4 1.4

Other 3 2.5 1.9 2.2 2.3 2.2 2.1 2.1 2.3

Total 72.2 59.3 73.5 70.6 70.4 66.1 65.0 72.0

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

Includes CBs and warrants.

Includes annuity insurance.

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Retail related data (4)

Retail client assets: Net asset inflow1

Full year

Quarter

(billions of yen)

6,000 5,000 4,000 3,000 2,000 1,000 0

4,868

4,928

5,279

3,942

2,395

847

1,107

250

191

4,000 3,000 2,000 1,000 0

FY2007/08 FY2008/09 FY2009/10 FY2010/11 FY2011/12

FY2010/11 FY2011/12

4Q 1Q 2Q 3Q 4Q

1. Net asset inflow = asset inflow asset outflow. Retail client assets exclude portion from regional financial institutions.

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Retail related data (5)

Number of accounts

Mar. 31, Mar. 31, Mar. 31, Mar. 31, Jun. 30, Sep. 30, Dec. 31, Mar. 31,

(Thousands) 2008 2009 2010 2011 2011 2011 2011 2012

Accounts with balance 4,165 4,467 4,883 4,936 4,945 4,954 4,966 4,985

Equity holding accounts 2,027 2,347 2,572 2,695 2,696 2,703 2,707 2,706

Nomura Home Trade / 2,765 3,095 3,189 3,328 3,348 3,369 3,745 3,773

Net & Call accounts

New Individual accounts / IT share2

Full year Quarter

(Thousands) FY2007 FY2008 FY2009 FY2010 FY2011 FY2010/11 FY2011/12

/08 /09 /10 /11 /12 4Q 1Q 2Q 3Q 4Q

New individual accounts (thousands) 580 608 336 326 235 69 69 53 50 64

IT share1

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

Transaction value 29% 29% 29% 27% 30% 31% 32% 32% 29% 29%

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

2. 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).

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Asset Management related data (1)

FY2010

FY2007 FY2008 FY2009 FY2010 FY2011 FY2011/12

/08 /09 /10 /11 /12 /11 QoQ YoY

(billions of yen) 4Q 1Q 2Q 3Q 4Q

Net revenue 81.1 51.9 62.1 66.5 65.8 17.3 18.8 16.0 15.3 15.7 2.6% -9.2%

Non-interest expenses 50.0 47.8 46.8 46.5 45.3 11.0 11.4 11.2 11.1 11.6 4.8% 5.2%

Income before income taxes 31.1 4.1 15.2 20.0 20.5 6.3 7.4 4.7 4.2 4.1 -3.0% -34.4%

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.

Total assets under management1

Full year Quarter

(trillions of yen)

35 30 25 20 15 10 5 0

25.8

20.2

23.4

24.7

25.3

22.7

22.6

24.6

Mar. 31, 2008 Mar. 31, 2009 Mar. 31, 2010 Mar. 31, 2011

Jun. 30, 2011 Sep. 30, 2011 Dec. 31, 2011 Mar. 31, 2012

1. 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 the end of February 2012.

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Asset Management related data (2)

Nomura Asset Management investment trust net assets under management1

(trillions of yen) Mar. 31, Mar. 31, Mar. 31, Mar. 31, Jun. 30, Sep. 30, Dec. 31, Mar. 31,

2008 2009 2010 2011 2011 2011 2011 2012

Public stock investment 9.8 6.5 8.1 9.4 9.5 8.1 8.0 9.0

trusts

Public bond investment 5.3 4.8 4.8 4.8 4.8 4.6 4.6 4.8

trusts

Privately placed investment 2.0 1.6 1.7 1.7 1.7 1.5 1.5 1.5

trusts

Investment trusts 17.2 13.0 14.7 15.9 16.0 14.2 14.1 15.3

Nomura Asset Management investment advisory assets1

(trillions of yen) Mar. 31, Mar. 31, Mar. 31, Mar. 31, Jun. 30, Sep. 30, Dec. 31, Mar. 31,

2008 2009 2010 2011 2011 2011 2011 2012

Domestic investment 4.6 4.3 4.7 4.4 4.9 4.7 4.7 4.9

advisory

Overseas investment 2.4 1.7 2.6 5.3 5.7 4.5 4.4 5.1

advisory

Investment advisory 7.1 6.0 7.3 9.7 10.6 9.2 9.1 10.0

Domestic public investment trust market and Nomura Asset Management market share2

(trillions of yen) Mar.

Mar. 31, Mar. 31, Mar. 31, Mar. 31, Jun. 30, Sep. 30, Dec. 31, 31,

2008 2009 2010 2011 2011 2011 2011 2012

Domestic public stock investment trusts

Market 57.7 40.4 52.6 54.2 54.6 47.3 46.8 51.2

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

Domestic public bond investment trusts

Market 12.0 11.1 11.1 11.1 11.1 10.5 10.6 11.0

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

Nomura Asset Management net asset inflow1

Full year Quarter

(trillions of yen) FY07/ FY08/ FY09/ FY10/ FY11/ FY10/11 FY11/12

08 09 10 11 12 4Q 1Q 2Q 3Q 4Q

Public stock investment 2.0 0.0 -0.2 1.7 0.4 0.3 0.3 0.3 -0.1 -0.1

trusts

Exclude ETF 1.8 -0.4 0.0 1.7 0.1 0.3 0.3 0.1 -0.2 -0.1

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

trusts

Privately placed 0.2 0.1 -0.2 0.0 -0.2 -0.0 -0.0 -0.0 -0.0 -0.1

investment trusts

Net asset inflow 1.7 -0.4 -0.4 1.7 0.2 0.3 0.4 -0.0 -0.1 0.0

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

2. Source: Investment Trusts Association, Japan

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Wholesale related data (1)

Wholesale

(billions of yen) FY2008 FY2009 FY2010 FY2011 FY2010/11 FY2011/12 QoQ YoY

/09 /10 /11 /12 4Q 1Q 2Q 3Q 4Q

Global Markets -157.3 658.4 518.8 460.7 137.0 130.1 72.6 118.7 139.3 17.3% 1.7%

Investment Banking -6.4 131.1 111.7 95.1 49.4 11.2 6.7 57.4 19.9 -65.4% -59.8%

Net revenue -163.6 789.5 630.5 555.9 186.3 141.2 79.3 176.2 159.2 -9.7% -14.6%

Non-interest expenses 553.7 614.3 623.8 593.5 156.9 156.1 152.4 138.3 146.6 6.0% -6.6%

Income (Loss) before income taxes -717.3 175.2 6.7 -37.6 29.4 -14.9 -73.1 37.8 12.5 -66.9% -57.4%

Global Markets

FY2008 FY2009 FY2010 FY2011 FY2010/11 FY2011/12

(billions of yen) /09 /10 /11 /12 4Q 1Q 2Q 3Q 4Q QoQ YoY

Fixed Income -217.2 308.0 259.8 271.2 69.4 67.6 45.7 71.2 86.6 21.6% 24.9%

Equities 98.9 352.8 227.3 181.5 64.3 56.7 33.4 39.7 51.7 30.0% -19.7%

Other -38.9 -2.4 31.6 8.1 3.3 5.8 -6.5 7.7 1.0 -87.0% -69.3%

Net revenue -157.3 658.4 518.8 460.7 137.0 130.1 72.6 118.7 139.3 17.3% 1.7%

Non-interest expenses 417.4 486.4 499.3 475.0 125.5 124.3 121.2 110.3 119.1 8.0% -5.0%

Income (Loss) before income taxes -574.6 172.0 19.5 -14.3 11.5 5.7 -48.6 8.4 20.2 139.7% 75.2%

Investment Banking

(billions of yen) FY2008 FY2009 FY2010 FY2011 FY2010/11 FY2011/12

/09 /10 /11 /12 4Q 1Q 2Q 3Q 4Q QoQ YoY

Investment Banking(Gross) 87.6 196.1 185.0 141.7 54.4 32.3 23.8 45.1 40.5 -10.3% -25.5%

Allocation to other divisions 24.1 77.2 82.6 67.1 25.1 13.4 12.3 21.7 19.8 -8.8% -21.3%

Investment Banking(Net) 63.5 118.9 102.4 74.6 29.3 18.9 11.5 23.4 20.7 -11.6% -29.2%

Other -69.9 12.2 9.4 20.6 20.1 -7.7 -4.8 34.0 -0.9—-

Net revenue -6.4 131.1 111.7 95.1 49.4 11.2 6.7 57.4 19.9 -65.4% -59.8%

Non-interest expenses 136.3 127.9 124.5 118.4 31.5 31.8 31.2 28.0 27.5 -1.8% -12.6%

Income (Loss) before income taxes -142.7 3.2 -12.8 -23.3 17.9 -20.6 -24.5 29.4 -7.6—-

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Wholesale related data (2)

Private equity related investments

Terra Firma

Asia

Europe (excluding Terra Firma) Japan

Full year Quarter

(billions of yen) 600

500

400 381.4

366.3 370.0

327.7

313.7

300 286.4

221.3 208.9 200

100

Mar. 31, 2008 Mar. 31, 2009 Mar. 31, 2010 Mar. 31, 2011 Jun. 30, 2011 Sep. 30, 2011 Dec. 31, 2011 Mar. 31, 2012

Japan 169.5 191.7 186.9 165.9 159.7 146.0 71.2 65.5

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

Asia—3.2 3.6 3.3 3.2 2.3 2.1 1.9

Sub Total 210.9 254.9 250.9 202.7 192.0 175.1 98.0 94.1

Terra Firma 170.5 111.4 119.2 125.0 121.7 111.3 110.9 127.2

Total 381.4 366.3 370.0 327.7 313.7 286.4 208.9 221.3

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Number of employees

Mar. 31, 2008 Mar. 31, 2009 Mar.31,2010 Mar. 31,2011 Jun. 30,2011 Sep. 30,2011 Dec. 31,2011 Mar. 31,2012

Japan (excluding FA)1 11,561 12,929 12,857 12,829 20,263 20,105 19,882 19,598

Japan (FA)2 2,377 2,391 2,196 2,089 2,096 2,078 2,048 2,011

Europe 1,956 4,294 4,369 4,353 4,436 4,492 4,143 4,014

Americas 1,063 1,079 1,781 2,348 2,383 2,537 2,466 2,420

Asia-Pacific3 1,070 4,933 5,171 5,252 6,452 6,485 6,394 6,352

Total 18,026 25,626 26,374 26,871 35,630 35,697 34,933 34,395

1. Excludes employees of private equity investee companies.

2. Figures up to March 2008 include savings advisors.

3. Includes Powai office in India.

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Nomura Holdings, Inc.