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FORM 6-K
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
Commission File Number: 1-15270
Supplement for the month of July 2004.
NOMURA HOLDINGS, INC.
(Translation of registrant’s name into English)
9-1, Nihonbashi 1-chome
Chuo-ku, Tokyo 103-8645
Japan
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-
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Information furnished on this form:
Exhibit Number
| 1. | [Consolidated Results of Operations (US GAAP) — First quarter, fiscal year ending March 2005] |
1 |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| NOMURA HOLDINGS, INC. | ||||
| By: |
/s/ HIROSHI TANAKA | |||
| Hiroshi Tanaka | ||||
| Senior Managing Director | ||||
Date: July 30, 2004
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Consolidated Results of Operations
(US GAAP)
First quarter, fiscal year ending March 2005
Nomura Holdings, Inc.
July 2004
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Outline of the Presentation
| n | Financial Summary |
| n | Review of Businesses |
| Ø | Segment Information |
| Ø | Domestic Retail |
| Ø | Global Wholesale |
| Ø | Asset Management |
| Ø | Non-interest Expenses |
| n | Appendix |
| 1. | This document is produced by Nomura Holdings, Inc. (“Nomura”). Copyright 2004 Nomura Holdings, Inc. All rights reserved. |
| 2. | 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. |
| 3. | 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. |
| 4. | 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. |
| 5. | 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. |
| 6. | The consolidated financial information in this document is unaudited. |
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Consolidated Financial Summary
First quarter ended June 30, 2004
| Results for the First Quarter (Billions of yen) |
Ø Net revenue |
213.9 (up 6.9%*) | ||
| Ø Non-interest expenses |
141.5 (up 9.8%*) | |||
| Ø Income before income taxes |
72.5 (up 1.6%*) | |||
| Ø Net income |
40.8 (up 4.6%*) | |||
| Ø Total assets |
30,013.9 (up 261.0**) | |||
| Ø Total shareholders’ equity |
1,833.4 (up 47.7**) | |||
| Ø Leverage |
16.4 times (16.7**) | |||
| Ø ROE |
9.0% (APR***) |
| * | YOY |
| ** | Compared with corresponding items as of March 31, 2004 |
| *** Net income x4 |
| (Shareholders’ equity at the beginning of period + Shareholders’ equity at the end of period) / 2 |
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Review of Businesses
| n | Segment Information (P5) |
| n | Domestic Retail (P6-8) |
| n | Global Wholesale (P9-11) |
| n | Asset Management (P12-13) |
| n | Non-interest Expenses (P14-15) |
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Segment Information
5
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Domestic Retail (1)*
1 Q Points
| n | Commissions (55.8 billion yen, up 117%) |
| ü | Stock Brokerage Commissions 36.5 billion yen, up 201% |
| Ø | Individual Equity Agency Transaction Value** |
| Monthly average = 13.9 trillion yen, up 179% |
| Ø | Equity Holding Accounts |
| End of June 04: 1.394 million (up 25,000 a/c since end of March 04) |
| Ø | IT Share*** |
No. of orders: 49%
Transaction value: 23%
| ü | Commissions for Investment Trusts Distribution and Redemption**** 14.5 billion yen, up 52% |
| Ø | Stock Investment Trusts Commissions: 7.6 billion yen, up 196% |
| Ø | Foreign Investment Trusts Commissions: 4.6 billion yen, down 4% |
| ü | Insurance |
| Ø | Outstanding Value of Variable Annuity Insurance Contracts |
| End of June 04 304.9 billion yen |
| n | Fees from Investment Banking (4.7 billion yen, up 61%) |
| ü | Distribution of JGBs for Individual Investors |
7th Issue 373.5 billion yen
Issue amount 1,772.6 billion yen: Nomura’s share: 21%
| n | Sales Credit (18.6 billion yen, down 54%) |
| n | Investment Trust Administration Fees and Other (6.3 billion yen, up 33%) |
| * | All percentages are year-on-year comparisons unless otherwise noted |
| ** | Three major exchanges = Tokyo, Osaka, Nagoya |
| *** | Portion of Domestic Retail domestic stock trades and value executed through Nomura Home Trade or Nomura Telephone Answer (excl. odd lot transaction) |
| **** | Nomura Securities |
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Domestic Retail (2)
Stock Brokerage Commissions / Foreign Currency Bond Distribution to Investors / Revenue Breakdown (approx. figs.)
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Domestic Retail (3)
Retail Client Assets / Net Asset Accumulation
* Client Assets, Domestic Retail Division, excluding financials ** Including CBs and warrants *** Includes variable annuity insurance |
Net asset accumulation: Gap between inflow and outflow of assets |
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Global Wholesale (1) Global Markets
| * | Net revenue for the first quarter and quarterly average for fiscal year ended March 2004 is the summation of the Fixed Income and Equity totals |
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Global Wholesale (2) Investment Banking
| Sources: | * Thomson Financial (Apr. 2004 - Jun. 2004) | |||
| ** Thomson Financial, Announced Mergers and Acquisitions: Any Japanese involvement. League table based on rank value. (Jan. 2004 - Jun. 2004) | ||||
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Global Wholesale (3) Merchant Banking
11
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Asset Management (1)
12
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Asset Management (2)
Assets Under Management / Market Share (Public Investment
Trusts, NAM’s Share)
Source: The Investment Trusts Association, Japan
13
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Non-Interest Expenses (1)*
| * | All percentages are year-on-year comparisons |
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Non-Interest Expenses* (2)
| * | Excludes expenses related to PFG and NPF entities and special charges for withdrawal from the multi-employer pension plan (18.9 billion yen in 2Q FY02.3 and 2.8 billion yen in 2Q FY04.3) |
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Appendix
| • | Revenue and Income by Business Segment (P17) |
| • | Global Wholesale (Revenue and Income by Business Line) (P18 - P19) |
| • | Domestic Retail Related Data (P20) |
| • | Major Differences (Segment / Income Statement) (P21) |
| • | Revenue (P22 - 25) |
| • | Non-interest Expenses (P26) |
| • | Client Assets (P27) |
| • | Number of Accounts (P28) |
| • | Secondary Market Share Data (P29) |
| • | Primary Market Share Data (Value Base) (P30) |
| • | Assets Under Management (NAM / NCRAM) (P31) |
| • | VaR (P32) |
| • | Number of Employees (P33) |
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Revenue and Income by Business Segment (Quarterly Base)
| Domestic Retail Unit: millions of yen | ||||||||||||||||||
| FY03.3 | FY04.3 | FY05.3 | ||||||||||||||||
| 1Q |
2Q |
3Q |
4Q |
1Q |
2Q |
3Q |
4Q |
1Q | ||||||||||
| Non-interest revenue |
66,436 | 56,136 | 69,366 | 54,999 | 74,573 | 75,214 | 74,893 | 79,355 | 86,210 | |||||||||
| Net-interest revenue |
599 | 605 | 915 | 194 | 397 | 378 | 460 | 487 | 759 | |||||||||
| Net revenue |
67,035 | 56,742 | 70,280 | 55,193 | 74,970 | 75,592 | 75,353 | 79,842 | 86,969 | |||||||||
| Non-interest expenses |
53,137 | 55,294 | 51,180 | 53,951 | 54,201 | 56,916 | 55,273 | 59,823 | 53,294 | |||||||||
| Income before income taxes |
13,899 | 1,449 | 19,100 | 1,241 | 20,769 | 18,676 | 20,080 | 20,019 | 33,675 | |||||||||
| Global Wholesale Unit: millions of yen | ||||||||||||||||||
| FY03.3 | FY04.3 | FY05.3 | ||||||||||||||||
| 1Q |
2Q |
3Q |
4Q |
1Q |
2Q |
3Q |
4Q |
1Q | ||||||||||
| Non-interest revenue |
73,321 | 24,324 | 40,124 | 58,906 | 68,977 | 94,852 | 51,351 | 75,665 | 74,936 | |||||||||
| Net-interest revenue |
16,541 | 30,970 | 30,571 | 23,712 | 25,177 | 20,102 | 5,987 | 23,625 | 12,566 | |||||||||
| Net revenue |
89,861 | 55,294 | 70,695 | 82,619 | 94,154 | 114,954 | 57,338 | 99,290 | 87,502 | |||||||||
| Non-interest expenses |
53,387 | 46,320 | 48,946 | 58,784 | 56,356 | 57,400 | 55,247 | 58,224 | 54,847 | |||||||||
| Income before income taxes |
36,474 | 8,974 | 21,749 | 23,835 | 37,798 | 57,554 | 2,091 | 41,066 | 32,655 | |||||||||
| Asset Management Unit: millions of yen | ||||||||||||||||||
| FY03.3 | FY04.3 | FY05.3 | ||||||||||||||||
| 1Q |
2Q |
3Q |
4Q |
1Q |
2Q |
3Q |
4Q |
1Q | ||||||||||
| Non-interest revenue |
9,850 | 10,288 | 7,290 | 7,400 | 7,598 | 7,633 | 10,459 | 8,610 | 9,046 | |||||||||
| Net-interest revenue |
-55 | 23 | 1,762 | 502 | 682 | 389 | 154 | 432 | 627 | |||||||||
| Net revenue |
9,795 | 10,311 | 9,052 | 7,902 | 8,280 | 8,022 | 10,613 | 9,042 | 9,673 | |||||||||
| Non-interest expenses |
8,682 | 8,995 | 8,021 | 8,167 | 8,192 | 10,517 | 8,058 | 10,237 | 8,894 | |||||||||
| Income before income taxes |
1,113 | 1,316 | 1,031 | -265 | 88 | -2,495 | 2,555 | -1,195 | 779 | |||||||||
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Global Wholesale
(Revenue and Income by Business Line, Quarterly Base) (1)
| Global Markets* Unit: millions of yen | ||||||||||||||||
| FY05.3 1Q |
||||||||||||||||
| Net revenue |
71,799 | |||||||||||||||
| Fixed Income relate |
38,535 | |||||||||||||||
| Equity related |
29,658 | |||||||||||||||
| Non-interest expenses |
41,175 | |||||||||||||||
| Income before income taxes |
30,624 | |||||||||||||||
| Fixed Income Unit: millions of yen | ||||||||||||||||
| FY03.3 1Q |
2Q |
3Q |
4Q |
FY04.3 1Q |
2Q |
3Q |
4Q | |||||||||
| Net revenue |
43,887 | 32,476 | 41,550 | 36,052 | 62,261 | 48,118 | 26,319 | 37,296 | ||||||||
| Non-interest expenses |
18,944 | 16,334 | 17,605 | 23,877 | 25,093 | 22,274 | 20,725 | 23,718 | ||||||||
| Income before income taxes |
24,943 | 16,142 | 23,946 | 12,176 | 37,168 | 25,844 | 5,594 | 13,578 | ||||||||
| Equity Unit: millions of yen | ||||||||||||||||
| FY03.3 1Q |
2Q |
3Q |
4Q |
FY04.3 1Q |
2Q |
3Q |
4Q | |||||||||
| Net revenue |
30,416 | 12,353 | 17,872 | 21,384 | 20,381 | 38,950 | 15,328 | 35,494 | ||||||||
| Non-interest expenses |
18,340 | 14,329 | 16,026 | 16,980 | 16,470 | 19,202 | 18,312 | 17,510 | ||||||||
| Income before income taxes |
12,076 | -1,977 | 1,846 | 4,404 | 3,911 | 19,748 | -2,984 | 17,984 | ||||||||
| * | In April 2004, Fixed Income, Equity and certain functions in Investment Banking were consolidated to create Global Markets. Fixed Income related and Equity related, which make up Net revenue, differ in composition to Fixed Income and Equity definitions used in the past. |
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Global Wholesale
(Revenue and Income by Business Line, Quarterly Base) (2)
| Investment Banking* Unit: millions of yen | ||||||||||||||||||
| FY03.3 1Q |
2Q |
3Q |
4Q |
FY04.3 1Q |
2Q |
3Q |
4Q |
FY05.3 1Q | ||||||||||
| Net revenue |
16,830 | 16,453 | 14,801 | 21,041 | 12,908 | 20,568 | 18,013 | 19,380 | 12,945 | |||||||||
| Non-interest expenses |
13,850 | 13,636 | 13,081 | 15,807 | 12,086 | 13,458 | 13,448 | 14,711 | 10,668 | |||||||||
| Income before income taxes |
2,980 | 2,817 | 1,720 | 5,234 | 822 | 7,110 | 4,565 | 4,669 | 2,277 | |||||||||
| Merchant Banking Unit: millions of yen | ||||||||||||||||||
| FY03.3 1Q |
2Q |
3Q |
4Q |
FY04.3 1Q |
2Q |
3Q |
4Q |
FY05.3 1Q | ||||||||||
| Net revenue |
-1,272 | -5,989 | -3,528 | 4,142 | -1,396 | 7,318 | -2,322 | 7,120 | 2,758 | |||||||||
| Non-interest expenses |
2,253 | 2,019 | 2,233 | 2,122 | 2,707 | 2,466 | 2,762 | 2,285 | 3,004 | |||||||||
| Income before income taxes |
-3,525 | -8,009 | -5,762 | 2,021 | -4,103 | 4,852 | -5,084 | 4,835 | -246 | |||||||||
| * | In April 2004, Fixed Income, Equity and certain functions in Investment Banking were consolidated to create Global Markets. Figures for Investment Banking before FY2004 correspond to the figures for Investment Banking prior to the organizational change. |
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Domestic Retail Related Data
| Units: Billions of yen | ||||||||||||||||||
| FY03.3 |
FY04.3 |
FY05.3 | ||||||||||||||||
| Domestic Retail |
1Q | 2Q | 3Q | 4Q | 1Q | 2Q | 3Q | 4Q | 1Q | |||||||||
| Net interest revenue |
0.6 | 0.8 | 0.7 | 0.2 | 1.2 | 1.2 | 1.4 | 1.1 | 1.6 | |||||||||
| Sales credit |
20.5 | 17.8 | 32.2 | 25.2 | 40.4 | 21.7 | 18.0 | 17.7 | 18.6 | |||||||||
| Investment trust administration fees and other |
12.3 | 7.7 | 6.9 | 5.2 | 4.8 | 5.4 | 5.6 | 6.0 | 6.3 | |||||||||
| Fees from investment banking |
1.8 | 4.8 | 3.7 | 4.8 | 2.9 | 6.7 | 8.7 | 7.7 | 4.7 | |||||||||
| Commissions |
31.9 | 25.7 | 26.8 | 19.8 | 25.7 | 40.5 | 41.8 | 47.2 | 55.8 | |||||||||
| Stock brokerage commissions (Domestic Retail) |
16.8 | 10.2 | 13.5 | 7.7 | 12.1 | 26.2 | 25.6 | 28.2 | 36.5 | |||||||||
| Units: Billions of yen | ||||||||||||||||||
| Commissions for investment trusts distribution and redemption* |
12.8 | 6.7 | 7.7 | 7.7 | 9.6 | 10.1 | 12.3 | 15.0 | 14.5 | |||||||||
| Bond investment trusts commission |
5.5 | 4.2 | 4.0 | 3.2 | 2.2 | 2.6 | 3.4 | 2.9 | 2.3 | |||||||||
| Stock investment trusts commission |
6.0 | 1.8 | 1.3 | 2.6 | 2.6 | 4.9 | 6.6 | 7.4 | 7.6 | |||||||||
| Foreign investment trusts commission** |
1.3 | 0.8 | 2.5 | 1.9 | 4.8 | 2.5 | 2.3 | 4.7 | 4.6 | |||||||||
| Units: Trillions of yen | ||||||||||||||||||
| Domestic distribution volume of investment trusts |
3.3 | 2.5 | 3.5 | 2.6 | 3.2 | 3.5 | 3.4 | 3.7 | 3.9 | |||||||||
| Bond investment trusts |
2.4 | 1.8 | 2.7 | 1.7 | 2.0 | 2.6 | 2.6 | 2.8 | 3.0 | |||||||||
| Stock investment trusts |
0.5 | 0.3 | 0.2 | 0.3 | 0.3 | 0.4 | 0.4 | 0.5 | 0.5 | |||||||||
| Foreign investment trusts |
0.5 | 0.4 | 0.6 | 0.5 | 0.8 | 0.5 | 0.3 | 0.4 | 0.4 | |||||||||
| Units: Billions of yen | ||||||||||||||||||
| 2002.6 |
2002.9 |
2002.12 |
2003.3 |
2003.6 |
2003.9 |
2003.12 |
2004.3 |
2004.6 | ||||||||||
| Outstanding value of bond investment trusts* |
5,291 | 4,785 | 4,282 | 3,883 | 3,612 | 3,302 | 2,910 | 2,558 | 2,293 | |||||||||
| Units: Billions of yen | ||||||||||||||||||
| 2002.6 |
2002.9 |
2002.12 |
2003.3 |
2003.6 |
2003.9 |
2003.12 |
2004.3 |
2004.6 | ||||||||||
| Outstanding value of variable annuity |
28.1 | 105.3 | 149.3 | 166.6 | 182.8 | 216.8 | 242.2 | 261.6 | 304.6 | |||||||||
| * | Nomura Securities |
| ** | Commission during the initial and subsequent offering periods |
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Major Differences (Segment / Income Statement) (FY05.3 3 months)
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Revenue (1)
(Commissions)
22
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Revenue (2)
(Fees from Investment Banking)
23
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Revenue (3)
(Asset Management and Portfolio Service Fees)
24
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Revenue (4)
(Net Gain on Trading / Net Interest Revenue)
25
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Non-interest Expenses
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Client Assets (Trillions of yen)
Nomura Securities
| Jun. 02 |
Sep. 02 |
Dec. 02 |
Mar. 03 |
Jun. 03 |
Sep. 03 |
Dec. 03 |
Mar. 04 |
Jun. 04 | ||||||||||
| Equities |
24.9 | 23.6 | 22.3 | 21.6 | 24.8 | 28.7 | 30.3 | 35.9 | 37.2 | |||||||||
| Bonds |
14.9 | 15.4 | 15.4 | 16.8 | 17.9 | 18.4 | 17.5 | 17.3 | 17.3 | |||||||||
| Stock investment trusts |
2.7 | 2.5 | 2.4 | 2.4 | 2.6 | 2.8 | 3.1 | 3.3 | 3.5 | |||||||||
| Bond investment trusts |
8.2 | 7.4 | 6.9 | 6.5 | 6.3 | 6.2 | 5.8 | 5.6 | 5.3 | |||||||||
| Overseas mutual funds |
1.0 | 1.0 | 1.1 | 1.2 | 1.3 | 1.4 | 1.5 | 1.6 | 1.7 | |||||||||
| Other |
0.1 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | |||||||||
| Total |
51.8 | 50.0 | 48.2 | 48.5 | 53.0 | 57.6 | 58.2 | 63.8 | 65.2 |
Client Assets (Domestic Retail, excluding financials)
| Jun. 02 |
Sep. 02 |
Dec. 02 |
Mar. 03 |
Jun. 03 |
Sep. 03 |
Dec. 03 |
Mar. 04 |
Jun. 04 | ||||||||||
| Equities |
11.4 | 10.6 | 9.9 | 9.5 | 11.1 | 12.8 | 13.7 | 16.0 | 16.9 | |||||||||
| Foreign Bonds |
2.6 | 2.8 | 3.2 | 3.4 | 3.9 | 3.7 | 3.8 | 3.7 | 3.6 | |||||||||
| Domestic Bonds |
4.7 | 4.9 | 5.0 | 5.0 | 5.1 | 5.3 | 5.7 | 6.1 | 6.5 | |||||||||
| Stock investment trusts |
2.4 | 2.2 | 2.1 | 2.0 | 2.2 | 2.4 | 2.5 | 2.7 | 2.7 | |||||||||
| Bond investment trusts |
7.9 | 6.7 | 6.3 | 5.9 | 5.7 | 5.6 | 5.2 | 5.0 | 4.7 | |||||||||
| Overseas Mutual Funds |
0.8 | 0.9 | 0.9 | 1.0 | 1.1 | 1.2 | 1.3 | 1.4 | 1.5 | |||||||||
| Other |
0.1 | 0.2 | 0.2 | 0.2 | 0.2 | 0.3 | 0.3 | 0.3 | 0.4 | |||||||||
| Total |
29.3 | 28.2 | 27.6 | 27.1 | 29.3 | 31.3 | 32.5 | 35.2 | 36.2 |
| * | As of the end of June 2004, client assets (Domestic Retail, including financials) were 41.9 trillion yen |
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Number of Accounts
| Nomura Home Trade (online trading accounts) | |||||||||||||||||||||||||||
| (Thousands accounts) | |||||||||||||||||||||||||||
| Jun.02 |
Sep.02 |
Dec.02 |
Mar.03 |
Jun.03 |
Sep.03 |
Dec.03 |
Mar.04 |
Jun.04 |
|||||||||||||||||||
| 1,005 | 1,079 | 1,114 | 1,141 | 1,168 | 1,215 | 1,290 | 1,367 | 1,452 | |||||||||||||||||||
| IT Share | |||||||||||||||||||||||||||
| FY03.3 1Q |
2Q |
3Q |
4Q |
FY04.3 1Q |
2Q |
3Q |
4Q |
FY05.3 1Q |
|||||||||||||||||||
| No. of order |
39 | % | 38 | % | 33 | % | 42 | % | 45 | % | 46 | % | 46 | % | 49 | % | 49 | % | |||||||||
| Transaction value |
17 | % | 14 | % | 9 | % | 17 | % | 21 | % | 21 | % | 21 | % | 23 | % | 23 | % | |||||||||
| Nomura Cash Management Service | |||||||||||||||||||||||||||
| (Thousands accounts) | |||||||||||||||||||||||||||
| Jun.02 |
Sep.02 |
Dec.02 |
Mar.03 |
Jun.03 |
Sep.03 |
Dec.03 |
Mar.04 |
Jun.04 |
|||||||||||||||||||
| 2,965 | 3,029 | 3,079 | 3,112 | 3,145 | 3,195 | 3,285 | 3,347 | 3,413 | |||||||||||||||||||
| Equity Holding Accounts | |||||||||||||||||||||||||||
| (Thousands accounts) | |||||||||||||||||||||||||||
| Jun.02 |
Sep.02 |
Dec.02 |
Mar.03 |
Jun.03 |
Sep.03 |
Dec.03 |
Mar.04 |
Jun.04 |
|||||||||||||||||||
| 1,246 | 1,274 | 1,285 | 1,302 | 1,308 | 1,323 | 1,349 | 1,369 | 1,394 | |||||||||||||||||||
| New Accounts (individual, monthly average) | |||||||||||||||||||||||||||
| (Thousands accounts) | |||||||||||||||||||||||||||
| FY03.3 1Q |
2Q |
3Q |
4Q |
FY04.3 1Q |
2Q |
3Q |
4Q |
FY05.3 1Q |
|||||||||||||||||||
| 20 | 22 | 20 | 16 | 16 | 21 | 24 | 26 | 27 | |||||||||||||||||||
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Secondary Market Share Data (Market Unit: Trillions of yen)
| Individual Equity Agency Transactions Share (monthly average) | ||||||||||||||||||
| FY03.3 1Q |
2Q |
3Q |
4Q |
FY04.3 1Q |
2Q |
3Q |
4Q |
FY05.3 1Q | ||||||||||
| Market |
5.2 | 3.9 | 5.2 | 3.1 | 5.0 | 9.1 | 9.8 | 11.4 | 13.9 | |||||||||
| Nomura’s share |
20% | 16% | 17% | 8% | 8% | 10% | 9% | 10% | 10% | |||||||||
| Off-floor/Off-exchange Equity Trading Share | ||||||||||||||||||
| FY03.3 1Q |
2Q |
3Q |
4Q |
FY04.3 1Q |
2Q |
3Q |
4Q |
FY05.3 1Q | ||||||||||
| Off-floor market |
4.1 | 4.1 | 2.7 | 3.2 | 3.5 | 4.9 | 4.3 | 6.6 | 5.7 | |||||||||
| Off-exchange |
9.6 | 8.7 | 8.7 | 6.3 | 8.1 | 9.1 | 6.8 | 7.9 | 9.3 | |||||||||
| Nomura’s share |
24% | 18% | 21% | 15% | 15% | 16% | 17% | 15% | 18% | |||||||||
| JGB Auction Share | ||||||||||||||||||
| FY03.3 1Q |
2Q |
3Q |
4Q |
FY04.3 1Q |
2Q |
3Q |
4Q |
FY05.3 1Q | ||||||||||
| Market |
16.8 | 18.2 | 15.7 | 17.3 | 18.4 | 18.7 | 18.1 | 19.2 | 19.4 | |||||||||
| Nomura’s share |
20% | 18% | 10% | 12% | 14% | 17% | 12% | 19% | 16% | |||||||||
| Secondary Bond Trading | ||||||||||||||||||
| FY03.3 1Q |
2Q |
3Q |
4Q |
FY04.3 1Q |
2Q |
3Q |
4Q |
FY05.3 1Q | ||||||||||
| Market |
296 | 299 | 261 | 273 | 321 | 326 | 281 | 308 | 368 | |||||||||
| Nomura’s share |
13% | 16% | 13% | 14% | 18% | 16% | 16% | 15% | 14% | |||||||||
29
Table of Contents
Primary Market Share Data (Value Base)
| Straight Bonds* |
|||||||||||||||||||||||||||
| FY03.3 02.4-6 |
02.4-9 |
02.4-12 |
02.4-03.3 |
FY04.3 03.4-03.6 |
03.4-03.9 |
03.4-03.12 |
03.4-04.3 |
FY05.3 04.4-04.6 |
|||||||||||||||||||
| Nomura’s share |
20 | % | 22 | % | 22 | % | 23 | % | 22 | % | 23 | % | 19 | % | 19 | % | 20 | % | |||||||||
| Euro Yen Bonds** |
|||||||||||||||||||||||||||
| FY03.3 02.4-6 |
02.4-9 |
02.4-12 |
02.4-03.3 |
FY04.3 03.4-03.6 |
03.4-03.9 |
03.4-03.12 |
03.4-04.3 |
FY05.3 04.4-04.6 |
|||||||||||||||||||
| Nomura’s share |
35 | % | 24 | % | 20 | % | 21 | % | 37 | % | 40 | % | 35 | % | 31 | % | 24 | % | |||||||||
| Convertible Bonds** |
|||||||||||||||||||||||||||
| FY03.3 02.4-6 |
02.4-9 |
02.4-12 |
02.4-03.3 |
FY04.3 03.4-03.6 |
03.4-03.9 |
03.4-03.12 |
03.4-04.3 |
FY05.3 04.4-04.6 |
|||||||||||||||||||
| Nomura’s share |
1 | % | 10 | % | 15 | % | 13 | % | 9 | % | 14 | % | 26 | % | 28 | % | 21 | % | |||||||||
| Japanese IPO** |
|||||||||||||||||||||||||||
| FY03.3 02.4-6 |
02.4-9 |
02.4-12 |
02.4-03.3 |
FY04.3 03.4-03.6 |
03.4-03.9 |
03.4-03.12 |
03.4-04.3 |
FY05.3 04.4-04.6 |
|||||||||||||||||||
| Nomura’s share |
9 | % | 8 | % | 9 | % | 11 | % | 5 | % | 10 | % | 26 | % | 27 | % | 45 | % | |||||||||
| Japanese PO** |
|||||||||||||||||||||||||||
| FY03.3 02.4-6 |
02.4-9 |
02.4-12 |
02.4-03.3 |
FY04.3 03.4-03.6 |
03.4-03.9 |
03.4-03.12 |
03.4-04.3 |
FY05.3 04.4-04.6 |
|||||||||||||||||||
| Nomura’s share |
40 | % | 41 | % | 44 | % | 50 | % | 37 | % | 58 | % | 39 | % | 33 | % | 17 | % | |||||||||
| Sources: |
* Thomson Dealwatch, lead manager base | |
| ** Thomson Financial Securities Data, bookrunner base |
30
Table of Contents
Assets Under Management (NAM / NCRAM)
| NAM (Trillions of yen) |
||||||||||||||||||
| Jun. 02 |
Sep. 02 |
Dec. 02 |
Mar. 03 |
Jun. 03 |
Sep. 03 |
Dec. 03 |
Mar. 04 |
Jun. 04 | ||||||||||
| Stock investment trusts |
3.6 | 3.3 | 3.3 | 3.2 | 3.5 | 4.3 | 4.3 | 4.5 | 4.6 | |||||||||
| Bond investment trusts |
9.2 | 8.3 | 7.8 | 7.3 | 7.0 | 7.0 | 6.6 | 6.3 | 6.0 | |||||||||
| Non-public investment trusts |
0.2 | 0.2 | 0.2 | 0.2 | 0.3 | 0.3 | 0.4 | 0.4 | 0.5 | |||||||||
| Investment advisory (domestic) |
3.3 | 3.1 | 3.0 | 2.9 | 2.9 | 2.9 | 2.9 | 3.0 | 3.1 | |||||||||
| Investment advisory (overseas) |
0.8 | 0.8 | 0.7 | 0.7 | 0.8 | 0.9 | 1.1 | 1.4 | 1.5 | |||||||||
| Total |
17.1 | 15.6 | 15.1 | 14.2 | 14.5 | 15.4 | 15.2 | 15.7 | 15.7 | |||||||||
| NCRAM (Billions of US$) |
||||||||||||||||||
| Jun. 02 |
Sep. 02 |
Dec. 02 |
Mar. 03 |
Jun. 03 |
Sep. 03 |
Dec. 03 |
Mar. 04 |
Jun. 04 | ||||||||||
| Total |
3.7 | 3.8 | 4.4 | 4.7 | 5.3 | 5.8 | 6.5 | 7.7 | 8.0 | |||||||||
31
Table of Contents
Value at Risk (Consolidated)
| n Definition |
From Apr. 1, 2003 to Jun. 30, 2004 | |
| Ø 99% confidence level |
Maximum: 5.6 billion yen | |
| Ø 1-day time horizon for out trading portfolio |
Minimum: 2.8 billion yen | |
| Ø Inter-product price fluctuations considered |
Average: 3.88 billion yen | |
(Billions of yen)
| The end of quarter |
Jun.02 |
Sep.02 |
Dec.02 |
Mar.03 |
Jun.03 |
Sep.03 |
Dec.03 |
Mar.04 |
Jun.04 |
||||||||||||||||||
| Equity |
1.8 | 1.3 | 1.3 | 1.5 | 2.1 | 2.3 | 2.9 | 3.3 | 3.0 | ||||||||||||||||||
| Interest Rate |
1.7 | 1.8 | 1.9 | 2.3 | 2.5 | 2.4 | 2.5 | 2.0 | 2.8 | ||||||||||||||||||
| Foreign Exchange |
0.4 | 0.4 | 0.3 | 0.2 | 0.3 | 0.3 | 0.3 | 0.5 | 0.4 | ||||||||||||||||||
| Sub-total |
3.8 | 3.5 | 3.5 | 4.0 | 4.9 | 4.9 | 5.7 | 5.8 | 6.3 | ||||||||||||||||||
| Diversification Benefit |
(1.2 | ) | (1.2 | ) | (1.1 | ) | (0.9 | ) | (1.5 | ) | (1.3 | ) | (1.8 | ) | (1.9 | ) | (2.2 | ) | |||||||||
| VaR |
2.6 | 2.3 | 2.4 | 3.1 | 3.4 | 3.6 | 3.8 | 3.9 | 4.0 | ||||||||||||||||||
32
Table of Contents
Number of Employees
| Mar. 01 |
Sep. 01 |
Mar. 02 |
Sep. 02 |
Mar. 03 |
Jun. 03 |
Sep. 03 |
Dec. 03 |
Mar. 04 |
Jun. 04 | |||||||||||
| Asia/Oceania |
486 | 476 | 468 | 462 | 616 | 622 | 646 | 652 | 655 | 668 | ||||||||||
| Americas |
835 | 893 | 827 | 753 | 797 | 821 | 843 | 852 | 866 | 914 | ||||||||||
| Europe |
1,370 | 1,449 | 1,381 | 1,352 | 1,389 | 1,439 | 1,372 | 1,439 | 1,403 | 1,407 | ||||||||||
| Japan (FA, SA) |
2,195 | 2,192 | 2,177 | 2,072 | 1,986 | 1,960 | 1,901 | 1,909 | 1,915 | 1,985 | ||||||||||
| Japan (excluding FA, SA)* |
9,507 | 9,846 | 9,697 | 9,969 | 9,258 | 9,561 | 9,435 | 9,316 | 9,148 | 9,430 | ||||||||||
| Total |
14,393 | 14,856 | 14,550 | 14,608 | 14,046 | 14,403 | 14,197 | 14,168 | 13,987 | 14,404 | ||||||||||
| *Excluding NPF’s consolidated subsidiaries | ||||||||||||||||||||
33
Table of Contents
