6-K 1 d17161d6k.htm FORM 6-K 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 April 2026

 

 

NOMURA HOLDINGS, INC.

(Translation of registrant’s name into English)

 

 

13-1, 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 2026


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: April 30, 2026

  By:   

/s/ Akito Bato

     Akito Bato
     Senior Managing Director


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Consolidated Results of Operations Fourth quarter, year ended March 2026 (US GAAP) April 2026 Nomura Holdings, Inc. Nomura


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Outline Presentation Executive summary (p. 2-3) Trend in stable revenue (p. 4) Overview of results (p. 5) Business segment results (p. 6) Wealth Management (p. 7-9) Investment Management (p. 10-11) Wholesale (p. 12-14) Banking (p. 15) Non-interest expenses (p. 16) Robust financial position (p. 17) Financial Supplement Consolidated balance sheet (p. 19) Value at risk (p. 20) Consolidated financial highlights (p. 21) Consolidated income (p. 22) Main revenue items (p. 23) Consolidated results: Income (loss) before income taxes by segment and region (p. 24) Segment Other (p. 25) Wealth Management related data (p. 26-29) Investment Management related data (p. 30-31) Wholesale related data (p. 32) Number of employees (p. 33) 1


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Executive summary (1/2) FY2025/26 full year highlights Net income1 of Y362.1bn, setting a record high for the second straight year Full-year ROE of 10.1%, meeting the quantitative target in our 2030 Vision for second year in a row Four segment income before income taxes reached an all-time high of Y506.9bn Wealth Management and Wholesale drove companywide earnings, with both achieving highest income before income taxes since their respective establishments4 Wealth Management s asset management-based business model gained further momentum, with substantial growth in major KPIs Investment Management s assets under management rose by more than 50% over the year to around Y137trn, with substantial increase in stable business revenue base Wholesale saw revenue growth in all regions. In addition to the overall division, both Global Markets and Investment Banking achieved record-high revenues Banking saw solid growth in its business base, also making steady advances towards scheduled launch of deposit sweep service in FY2026/27 Proactive shareholder returns: Dividend per share; Year-end Y24, Annual Y51 (Dividend payout ratio of 41%) FY2024/25 FY2025/26 YoY full year full year Net revenue Y1,892.5bn Y2,167.7bn 15% Income before Y472.0bn Y539.8bn 14% income taxes Net income1 Y340.7bn Y362.1bn 6% EPS2 Y111.03 Y118.99 7% ROE 10.0% 10.1% 1. Net income (loss) attributable to Nomura Holdings shareholders. 2. Diluted net income (loss) attributable to Nomura Holdings shareholders per share. 3. Retrospective adjustments made to prior years following the establishment of the Banking Division, a portion of whose businesses were previously included in Wealth Management Division, in April 2025. 4. Wealth Management Division: Established in the fiscal year ended March 2002 Wholesale Division: Established in the fiscal year ended March 2011 2


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Executive summary (2/2) FY2025/26 4Q highlights Income before income taxes and net income both fell QoQ and ROE1 came in at 8.0% Net revenue: Y577.2bn (+5% QoQ); Income before income taxes: Y107.7bn (-20% QoQ); Net income2: Y73.9bn (-19% QoQ); EPS3: Y24.34 Revenue increased in the four main segments combined, but the share of profit/loss from affiliates declined in segment Other Recognized an impairment loss at an investee company in Investment Management Four segment income before income taxes4 of Y125.6bn (-12% QoQ) Wealth Management: Recurring revenue assets remained at a high level while recurring revenue hit an all-time high as in the previous quarter Amid volatile market conditions, flow revenue also remained at a high level supported by effective support of customers needs Investment Management: Net revenue hit an all-time high thanks to growth in existing businesses and a contribution from acquired businesses However, expenses related to acquired businesses and an impairment loss on equity interests in an investee company was recognized Wholesale: In Global Markets, although revenue fell QoQ, Equities reached an all-time high5, while in Investment Banking momentum remained solid thanks to performance in Japan Banking: Net revenue was solid but income before income taxes was down on upfront investment in business expansion Income before income taxes and net income2 Groupwide (billions of yen) : Income before income taxes Net income 160.3 136.6 135.2 104.6 107.7 97.7 92.1 91.6 72.0 73.9 FY24/25 FY25/26 4Q 1Q 2Q 3Q 4Q Four segment income before income taxes4 (billions of yen) Investment Management Banking Wealth Management4 Wholesale 142.9 132.6 125.6 105.8 92.0 FY24/25 FY25/26 4Q 1Q 2Q 3Q 4Q 1. Calculated using annualized net income attributable to Nomura Holdings shareholders for each period. 2. Net income (loss) attributable to Nomura Holdings shareholders. 3. Diluted net income (loss) attributable to Nomura Holdings shareholders per share. 4. Retrospective adjustments made to prior years following the establishment of the Banking Division, a portion of whose businesses were previously included in Wealth Management, in April 2025. 5. A record quarter since comparisons possible in FY2016/17 3


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Trend in stable revenue: Building recurring business to expand the revenue base for growth Recurring revenue assets and AuM increased with inflows Wealth Management (WM) (trillions of yen) Recurring revenue assets 27.9 30.0 23.0 23.5 19.6 18.7 20.0 18.2 10.0 0.0 FY20/21 FY21/22 FY22/23 FY23/24 FY24/25 FY25/26 Mar Mar Mar Mar Mar Mar Investment Management (IM) (trillions of yen) AuM 160.0 136.9 120.0 89.0 89.3 80.0 64.7 67.9 67.3 40.0 0.0 FY20/21 FY21/22 FY22/23 FY23/24 FY24/25 FY25/26 Mar Mar Mar Mar Mar Mar Stable revenue1 steadily expanding (billions of yen) WM Recurring revenue IM Business revenue Banking revenue 600.0 500.0 53.9 400.0 47.2 223.7 300.0 42.9 163.7 200.0 137.2 119.9 120.7 111.9 100.0 205.2 180.1 131.7 134.4 138.2 107.1 0.0 FY20/21 FY21/22 FY22/23 FY23/24 FY24/25 FY25/26 Retrospective adjustments to align with the new segment classification for FY23/24 and FY24/252 1. Total of recurring revenue assets in Wealth Management, business revenue in Investment Management, and revenue in Banking. 2. Banking revenue is separately disclosed from FY25/26 1Q following the establishment of the Banking Division in April 2025. A portion of Banking revenue was previously included in recurring revenue in the Wealth Management Division. Retrospective adjustments have been made to figures for FY23/24 and FY24/25 to reflect the establishment of the Banking Division, but not to figures for earlier fiscal years. 4


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Overview of results Highlights (billions of yen, excluding EPS, BPS and ROE) FY24/25 FY25/26 FY24/25 FY25/26 QoQ YoY YoY 4Q 1Q 2Q 3Q 4Q Full year Full year Net revenue 452.7 523.3 515.5 551.8 577.2 5% 27% 1,892.5 2,167.7 15% Non-interest expenses 355.0 363.0 378.8 416.5 469.5 13% 32% 1,420.5 1,627.9 15% Income before income taxes 97.7 160.3 136.6 135.2 107.7 -20% 10% 472.0 539.8 14% Net income1 72.0 104.6 92.1 91.6 73.9 -19% 3% 340.7 362.1 6% Effective tax rate 24.3% 32.9% 29.9% 30.1% 28.9% 26.4% 30.6% EPS2 Y23.39 Y34.04 Y30.49 Y30.19 Y24.34 -19% 4% Y111.03 Y118.99 7% BPS3 Y1,174.10 Y1,177.31 Y1,188.05 Y1,244.72 Y1,277.99 3% 9% Y1,174.10 Y1,277.99 11% ROE4 8.2% 12.0% 10.6% 10.3% 8.0% 10.0% 10.1% Income before income taxes from three international 28.5 27.5 44.9 16.3 2.9 -82% -90% 137.0 91.5 -33% regions5,6 1. Net income (loss) attributable to Nomura Holdings shareholders. 2. Diluted net income (loss) attributable to Nomura Holdings shareholders per share. 3. Total Nomura Holdings shareholders equity per share. 4. Calculated using annualized net income attributable to Nomura Holdings shareholders for each period. 5. Three international regions refers to (i) the Americas, (ii) Europe and (iii) Asia and Oceania (Including Powai office in India). 6. Geographic information is based on U.S. GAAP. Nomura s revenues and expenses are allocated based on the country of domicile of the legal entity providing the service. This information is not used for business management purposes. 5


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Business segment results Net revenue and income (loss) before income taxes (billions of yen) FY24/25 FY25/26 FY24/25 FY25/26 QoQ YoY YoY 4Q 1Q 2Q 3Q 4Q Full year Full year Net Wealth Management1 99.9 105.8 116.5 132.5 133.1 0.5% 33% 433.6 487.9 13% revenue Investment Management 43.0 50.6 60.8 60.9 86.2 42% 100% 192.5 258.5 34% Wholesale 259.2 261.1 279.2 313.9 308.1 -2% 19% 1,057.9 1,162.2 10% Banking1 11.4 12.8 12.9 13.7 14.5 6% 27% 47.2 53.9 14% Subtotal1 413.5 430.3 469.3 521.0 542.0 4% 31% 1,731.1 1,962.6 13% Other*1 39.4 93.2 44.4 28.1 31.2 11% -21% 162.9 196.9 21% Unrealized gain (loss) on investments in equity securities held for operating -0.2 -0.1 1.8 2.7 4.0 50% - -1.5 8.3 -purpose Net revenue 452.7 523.3 515.5 551.8 577.2 5% 27% 1,892.5 2,167.7 15% Wealth Management1 35.9 38.8 45.5 58.5 61.2 5% 70% 166.2 204.0 23% Income (loss) Investment Management 15.5 21.5 30.7 17.9 18.1 1% 17% 89.6 88.3 -1% before Wholesale 37.5 41.9 53.1 62.3 43.2 -31% 15% 166.3 200.6 21% income 1 Banking 3.1 3.6 3.2 4.2 3.0 -27% -0.1% 16.4 14.0 -14% taxes 1 Subtotal 92.0 105.8 132.6 142.9 125.6 -12% 37% 438.4 506.9 16% Other*1 35.1 24.6 -30% 5.9 54.6 2.3 -10.3 -22.0 - - Unrealized gain (loss) on investments in equity securities held for operating -0.2 -0.1 1.8 2.7 4.0 50% - -1.5 8.3 -purpose Income (loss) before income taxes 97.7 160.3 136.6 135.2 107.7 -20% 10% 472.0 539.8 14% *Additional information on Other (FY2025/26 4Q) Loss related to economic hedging (Y-2.9bn) Loss on changes to own and counterparty credit spread relating to Derivatives (Y-1.2bn) 1. Retrospective adjustments made to prior years following the establishment of the Banking Division, a portion of whose businesses were previously included in Wealth Management, in April 2025. 6


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Wealth Management Net revenue and income before income taxes1 (billions of yen) FY24/ FY25/ FY24/ FY25/ 25 26 25 26 QoQ YoY Full Full 4Q 1Q 2Q 3Q 4Q year year Net revenue 433.6 487.9 99.9 105.8 116.5 132.5 133.1 0.5% 33% Non-interest expenses 267.4 283.9 64.0 67.0 71.0 74.0 71.9 -3% 12% Income before income taxes 166.2 204.0 35.9 38.8 45.5 58.5 61.2 5% 70% Breakdown of net revenue1 (billions of yen) 140.0 500.0 120.0 400.0 100.0 Flow 300.0 80.0 revenue, etc. 200.0 60.0 Recurring revenue 40.0 100.0 20.0 0.0 0.0 FY24/ FY25/ FY24/ FY25/ 25 26 25 26 QoQ YoY Full Full 4Q 1Q 2Q 3Q 4Q year year Recurring revenue1,2 180.1 205.2 47.0 44.5 51.2 52.7 56.8 8% 21% Flow revenue, etc.3 253.4 282.7 52.9 61.3 65.3 79.8 76.4 -4% 44% Net revenue1 433.6 487.9 99.9 105.8 116.5 132.5 133.1 0.5% 33% Key points Full year Net revenue: Y487.9bn (+13% YoY) Income before income taxes: Y204.0bn (+23% YoY) Income before income taxes at highest level since the division was established in the fiscal year ended March 2002 Major advances in all KPIs, with the foundation of asset management-based business model steadily strengthened The recurring revenue cost coverage ratio4 rose to 72%, mainly reflecting revenue growth, while disciplined cost control was maintained Fourth quarter Net revenue: Y133.1bn (+0.5% QoQ, +33% YoY) Income before income taxes: Y61.2bn (+5% QoQ, +70% YoY) Recurring revenue Net inflows of recurring revenue assets remained at a high level (+Y422.8bn); 16th consecutive quarter of strong net inflows Recurring revenue also at record high; steady growth in recurring revenue assets facilitated growth in income Flow revenue, etc. Flow revenue edged down, but remained at a high level, second only to 3Q level; supported by effective responses to client needs amid volatile market conditions FY2025/26 FY2025/26 1. Retrospective adjustments made to prior years following the establishment of the Banking Division, a portion of whose businesses were previously included in Wealth Management, in April 2025. 2. Revenue from client assets and ongoing revenue (investment trusts, discretionary investments, insurance, loans, level fee assets, etc.). 3. Revenue from transactions (brokerage revenue, consulting-related revenue), interest income, etc. other than from loans. 4. Recurring revenue divided by non-interest expenses using four-quarter cumulative. 5. Excludes Corporate section. 6. Cash and securities inflows minus outflows, excluding regional financial institutions. 7


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Wealth Management: Robust total sales underpinned by comprehensive asset management services Total sales1 (billions of yen) 12,000 Discretionary investments, 10,000 Insurance products Investment trusts 8,000 6,000 Bonds 4,000 Stocks 2,000 0 FY24/25 FY25/26 4Q 1Q 2Q 3Q 4Q Stocks 3,870.6 4,967.5 4,539.9 4,741.3 9,953.3 Bonds 462.7 660.6 633.4 473.4 447.6 Investment trusts 791.0 754.7 815.2 1,095.1 953.7 Discretionary Investments 149.5 140.2 187.0 221.0 223.6 Insurance 87.1 137.3 185.5 132.7 96.7 Total sales1 5,360.9 6,660.3 6,361.0 6,663.4 11,675.0 Total sales1 were Y11.675trn, +75% QoQ Stocks: +2x QoQ Sales of Japanese stock rose thanks to major tender offers (around Y4trn) and primary deals Primary stock subscriptions fell by 38% QoQ to Y202.3bn Bonds: -5% QoQ Sales of Japanese bonds fell slightly on absence of primary deals Demand for foreign bonds was solid Investment trusts: -13% QoQ Remained at a high level despite falling QoQ amid increasingly widespread investment diversification for portfolio management purposes Discretionary investments: +1% QoQ Existing contracts grew and new contracts also increased, thanks to high-quality product lineup and provision of services geared to customer needs Insurance: -27% QoQ Sales of foreign currency-denominated products declined on weaker yen, but contract value for yen-denominated products increased 8


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Wealth Management: KPI summary Net inflows of recurring revenue assets1 Recurring revenue assets and recurring revenue2, 3 Net inflows for 16th straight quarter on progress in asset management business Fiscal year-end recurring revenue assets fell on market factors but remained at high level; recurring revenue at all-time high thanks to half-yearly investment advisory fees (billions of yen) Wealth Management total Excluding Corporate section Recurring revenue assets (trillions of yen) (billions of yen) 606.6 Recurring revenue (rhs) 56.8 600.0 539.0 30.0 52.7 60.0 503.9 51.2 428.0 422.8 47.0 44.5 450.0 377.4 403.2 25.0 50.0 265.6 278.9 289.5 300.0 20.0 40.0 26.2 28.1 27.9 23.5 24.6 150.0 15.0 30.0 0.0 10.0 FY24/25 FY25/26 20.0 FY24/25 FY25/26 1 2 3 4 5 4Q 1Q 2Q 3Q 4Q Mar/4Q Jun/1Q Sep/2Q Dec/3Q Mar/4Q Flow business clients Workplace services Flow business client numbers well above prior-year level; customer access increased Provision of workplace services on growth trajectory driven mainly by ESOP steadily as transformation of business model improved productivity (thousands) (thousands) 1,800 1,741 4,142 4,200 4,082 4,035 1,538 3,963 1,600 1,644 4,000 3,883 3,800 1,400 1,482 1,263 3,600 1,200 1,251 3,400 1,000 914 FY2024/25 FY2025/26 3,200 925 800 3,000 FY25/26 FY24/25 Jun Sep Dec Mar Mar Jun Sep Dec Mar 1. Excludes investment trust distributions, and investment trust net inflows in level fee accounts, etc. 2. Revenue from client assets and ongoing revenue (investment trusts, discretionary investments, insurance, loans, level fee assets, etc.). 3. Retrospective adjustments made to prior years following the establishment of the Banking Division, a portion of whose businesses were previously included in Wealth Management, on Apr. 1, 2025. 9


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Investment Management Net revenue and income before income taxes1 (billions of yen) FY24/ FY25/ FY24/ FY25/ 25 26 25 26 QoQ YoY Full Full 4Q 1Q 2Q 3Q 4Q year year Net revenue 192.5 258.5 43.0 50.6 60.8 60.9 86.2 42% 100% Non-interest expenses 102.9 170.2 27.5 29.0 30.1 43.0 68.1 58% 148% Income before income taxes 89.6 88.3 15.5 21.5 30.7 17.9 18.1 1% 17% Breakdown of net revenue (billions of yen) 100.0 250.0 80.0 200.0 60.0 Investment 150.0 gain/loss 40.0 100.0 Business revenue 50.0 20.0 0.0 0.0 FY24/ FY25/ FY24/ FY25/ 25 26 25 26 QoQ YoY Full Full 4Q 1Q 2Q 3Q 4Q year year Business revenue1,2 163.7 223.7 43.3 40.6 44.1 57.8 81.2 40% 88% Investment gain/loss3 28.8 34.8 -0.2 9.9 16.8 3.1 5.0 64% -Net revenue 192.5 258.5 43.0 50.6 60.8 60.9 86.2 42% 100% Key points Full year Net revenue: Y258.5bn (+34% YoY) Income before income taxes: Y88.3bn (-1% YoY) Assets under management at all-time high, reflecting continued expansion of the business base - Business revenue, which constitutes stable revenue reached a record high4, driven by growth in existing businesses and the expansion of international businesses through acquisition - Costs increased due to expenses attributable to acquired businesses, as well as an impairment loss in the fourth quarter on our equity interest in an investee company5 Fourth quarter Net revenue: Y86.2bn (+42% QoQ, +100% YoY) Income before income taxes: Y18.1bn (+1% QoQ, +17% YoY) Business revenue Net revenue: Y81.2bn (+40% QoQ, +88% YoY) - Asset management business continued to deliver solid performance, with all-time high performance fees4 as well as solid growth in asset management fees and contributions from acquired businesses - QoQ growth in revenue at aircraft leasing business Nomura Babcock & Brown Investment gain/loss Net revenue: Y5.0bn (+64% QoQ) - American Century Investments related valuation gain/loss increased QoQ 1. Includes gain/loss from Nomura Fiduciary Research & Consulting Co., Ltd. starting in FY2025/26 1Q. Includes gain/loss from public asset management business of Macquarie Group since 1 December 2025. 2. Includes revenues from asset management business, aircraft leasing-related revenues, and general partner management fees gained from private assets and other investment businesses. 3. Consists of net revenue arising from American Century Investments-related gain/loss, investment business in private assets & other, and investments (including changes in fair valuations, funding costs, management fees, dividends, etc.) 4. Record high since the division s establishment in 2021 5. A minority interest in a forestry asset management company 10


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Investment Management: AuM, inclusive of alternative assets, remains at a record-high Assets under management (net)1 (trillions of yen) Domestic Investment advisory and international businesses, etc. Domestic Investment trust business 134.7 136.9 140.0 120.0 101.2 55.7 89.3 94.3 55.7 100.0 27.9 80.0 25.0 26.3 60.0 40.0 73.4 79.0 81.2 64.3 68.1 20.0 0.0 FY24/25 FY25/26 Mar Jun Sep Dec Mar Net inflows2 (billions of yen) Domestic investment advisory and international businesses, etc. 1,000 Domestic investment trust business 500 314 40 108 498 816 40 525 274 315 115 44 0 -207 -26 489 71 -500 -1,095 -1,000 -279 -1,500 FY24/25 FY25/26 4Q 1Q 2Q 3Q 4Q Fourth quarter Assets under management at record high of Y136.9trn Domestic investment trust business Despite sharp fall in the overall market in March, net inflows continued, particularly into ETFs - Investment trusts (excl. ETFs, MRFs etc): Inflows into balanced funds, Japan equity active funds, and private asset products - ETFs: Inflows mainly into Japanese stocks Domestic investment advisory and international businesses In Japan, saw outflows mainly for equities Internationally, saw outflows from acquired business and US high-yield bonds 1. Assets under management (net) are calculated by deducting overlapping assets within the Investment Management division from the simple aggregate (gross) of AuM of asset management companies within Investment Management division 2. Based on assets under management (net) 3. Total of Nomura Asset Management alternative AuM and private assets AuM of other asset management companies within Investment Management division 11


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Net revenue and income before income taxes (billions of yen) FY24/ FY25/ FY24/ FY25/ 25 26 25 26 QoQ YoY Full Full 4Q 1Q 2Q 3Q 4Q year year Net revenue 1,057.9 1,162.2 259.2 261.1 279.2 313.9 308.1 -2% 19% Non-interest expenses 891.7 961.7 221.7 219.2 226.0 251.6 264.8 5% 19% Income before income 166.3 200.6 37.5 41.9 53.1 62.3 43.2 -31% 15% taxes CIR 84% 83% 86% 84% 81% 80% 86% Revenue/modified RWA1 7.6% 7.4% 7.3% 6.9% 7.1% 7.8% 7.6% Net revenue by business line (billions of yen) 1,200.0 400.0 Investment 300.0 800.0 Banking 200.0 Global Markets 400.0 100.0 0.0 0.0 FY24/ FY25/ FY24/ FY25/ 25 26 25 26 QoQ YoY Full Full 4Q 1Q 2Q 3Q 4Q year year Global Markets 874.6 968.1 206.9 223.1 235.7 256.8 252.5 -2% 22% Investment Banking 183.3 194.1 52.3 37.9 43.5 57.1 55.6 -3% 6% Net revenue 1,057.9 1,162.2 259.2 261.1 279.2 313.9 308.1 -2% 19% Key points Full year Net revenue: Y1,162.2bn (+10% YoY) Income before income taxes: Y200.6bn (+21% YoY) Net revenue and income before income taxes both at all-time high since establishment of the division in April 2010 Revenue in Global Markets and Investment Banking both at all-time high2 YoY growth in revenue across all regions Fourth quarter Net revenue: Y308.1bn (-2% QoQ, +19% YoY) Income before income taxes: Y43.2bn (-31% QoQ, +15% YoY) Global Markets revenue fell QoQ but revenue in Equities reached an all-time high2 Momentum in Investment Banking remained solid thanks to performance in Japan Net revenue by region (billions of yen) Americas EMEA AEJ Japan 1,200.0 400.0 437.5 300.0 401.9 800.0 105.5 107.4 124.1 190.8 109.9 100.6 200.0 175.5 54.0 48.1 195.9 45.0 43.7 400.0 182.7 45.5 52.3 49.1 48.5 100.0 40.5 46.0 297.8 338.1 87.3 102.2 63.3 69.5 79.0 0.0 0.0 FY24/ FY25/ FY24/ 25 26 25 FY2025/26 Full Full 4Q 1Q 2Q 3Q 4Q year year 1. Wholesale net revenue (annualized) divided by modified risk-weighted assets (daily average for the accounting period) used by Wholesale. Modified risk-weighted assets (daily average for the accounting period) is a non-GAAP financial measure and is the total of (i) risk-weighted assets (as calculated and presented under Basel III) and (ii) an adjustment equal to the regulatory adjustment to common equity tier 1 capital calculated and presented under Basel III divided by our internal minimum capital ratio target. Starting from FY2025/26 1Q, based on Basel III finalization rule. 2. A record since comparisons possible in FY2016/17 12


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Net revenue (billions of yen) 1,000.0 300 FI: Others1 800.0 250 FI: Macro Products2 600.0 200 FI: Spread 150 Products3 400.0 EQ: Others4 100 200.0 EQ: Equity 50 Products5 EQ: Execution 0.0 0 Services6 FY24/ FY25/ FY24/ FY2025/26 25 26 25 QoQ YoY Full Full 4Q 1Q 2Q 3Q 4Q year year Fixed 499.2 509.0 105.8 124.8 121.9 136.9 125.3 -8% 18% Income (FI) Equities 375.4 459.2 101.1 98.3 113.8 119.9 127.2 6% 26% (EQ) Global 874.6 968.1 206.9 223.1 235.7 256.8 252.5 -2% 22% Markets Key points Full year Net revenue: Y968.1bn (+11% YoY) Fixed income revenue and equities revenue both at all-time high7 YoY growth in revenue across all regions Fourth quarter Net revenue: Y252.5bn (-2% QoQ, +22% YoY) In Fixed income, growth in FX/EM partially offset by slower Rates In Equities, revenue in Equity Products reached all-time high7 4 Fixed Income Net revenue: Y125.3bn (-8% QoQ, +18% YoY) - Macro Products: Rates revenue saw slowdown in the Americas amid increased market volatility but rose in Japan. FX/EM revenue rose across all regions on accurate perception of client flows - Spread Products: Securitized Products revenue remained strong in the Americas while AEJ declined from a strong previous quarter. Credit revenue held steady QoQ despite spreads widening Equities Net revenue: Y127.2bn (+6% QoQ, +26% YoY) - Equity Products: Substantial revenue growth in Japan and AEJ from strong performance across Financing and Derivatives - Execution Services: Revenue growth across all regions from increased client activity 1. International Wealth Management, businesses run together with Investment Banking, and other revenue not attributed to a particular desk. 2. Rates, FX/EM. 3. Credit, Securitized Products. 4. Businesses run together with Investment Banking, Other gains and losses not attributable to a particular desk. 5. Cash and derivatives trading and Prime Services. 6. Equities execution business 7. A record since comparisons possible in FY2016/17 13


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Wholesale: Investment Banking Net revenue (billions of yen) 200.0 60.0 150.0 Financing, 40.0 Solutions, etc. 100.0 50.0 20.0 Advisory 0.0 0.0 FY24/ FY25/ FY24/ FY25/ 25 26 25 26 QoQ YoY Full Full 4Q 1Q 2Q 3Q 4Q year year 183.3 194.1 52.3 37.9 43.5 57.1 55.6 -3% 6% Key points Full year Net revenue: Y194.1bn (+6% YoY) - Japan and international net revenues both at highest level since comparisons possible in FY2016/17 - Strong performance in Japan across a broad range of products amid buoyant corporate actions, while overseas M&A was the main driver Fourth quarter Net revenue: Y55.6bn (-3% QoQ, +6% YoY) - Net revenue down QoQ, but kept at a high level; M&A and ECM remained Advisory - Maintained net revenue growth momentum through steady execution of diverse M&A deals Financing and Solutions, etc.1 - ECM revenues continued to grow on contributions from major CB and PO deals - Solid performance too from solutions business catering to need to unwind cross-shareholdings - DCM also involved in multiple cross-border deals M&A-Japan ECM-Japan FY25/263 FY25/263 House of 1st place 1st place the Year Global Ranking 16th4 4-year streak at No.1 Top in the Overall Category 14


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Banking Net revenue and income before income taxes1 FY24/ FY25/ FY24/ FY25/ 25 26 25 26 (billions of yen) QoQ YoY Full Full 4Q 1Q 2Q 3Q 4Q year year Net revenue 47.2 53.9 11.4 12.8 12.9 13.7 14.5 6% 27% Non-interest expenses 30.8 39.9 8.4 9.2 9.7 9.5 11.5 21% 37% Income before income taxes 16.4 14.0 3.1 3.6 3.2 4.2 3.0 -27% -0.1% 15


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Non-interest expenses (billions of yen) Full year Quarter (billions of Other 2,000.0 469.5 500.0 416.5 Business development 1,627.9 378.8 expenses 355.0 363.0 1,500.0 1,420.5 Occupancy and related depreciation Information processing 1,000.0 250.0 and communications Commissions and floor brokerage 500.0 Compensation and benefits 0.0 0.0 FY24 FY25 FY24/25 FY25/26 /25 /26 4Q 1Q 2Q 3Q 4Q QoQ Compensation and benefits 732.4 829.5 172.3 186.3 195.1 220.7 227.4 3.0% Commissions and floor 177.5 221.9 44.9 44.8 47.2 54.0 75.9 40.5% brokerage Information processing and 227.0 248.4 60.1 57.2 59.2 63.5 68.6 7.9% communications Occupancy and related 70.2 71.5 17.8 16.0 17.3 17.9 20.4 14.4% depreciation Business development 27.1 33.7 7.7 7.0 7.3 10.0 9.4 -5.7% expenses Other 186.4 222.9 52.2 51.8 52.8 50.4 67.8 34.5% Total 1,420.5 1,627.9 355.0 363.0 378.8 416.5 469.5 12.7% Key points Full year Non-interest expenses: Y1,627.9bn (+15% YoY) Compensation and benefits (+13% YoY) - Increase in bonus provisions linked to performance and effect of business acquisition Commissions and floor brokerage (+25% YoY) - Higher trading volume, temporary increase due to changes in accounting presentation, and effect of business acquisition Fourth quarter Non-interest expenses: Y469.5bn (+13% QoQ) Commissions and floor brokerage (+41% QoQ) - Temporary increase due to changes in accounting presentation and effect of business acquisition Other (+35% QoQ) - Impairment loss booked in relation to equity stake in an investee company 16


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Robust financial position Balance sheet related indicators and capital ratios Mar 2025 Dec 2025 Mar 2026 Total assets Y56.8trn Y61.9trn Y62.6trn Shareholders equity Y3.5trn Y3.7trn Y3.7trn Gross leverage 16.4x 17.0x 16.9x Net leverage1 11.0x 11.9x 12.2x Level 3 assets (net) 2 Y1.3trn Y1.4trn Y1.3trn Liquidity portfolio Y10.2trn Y10.8trn Y10.7trn (billions of yen) Mar 2025 Dec 2025 Mar 20262 Basel 3 basis Tier 1 capital 3,500 3,670 3,848 Tier 2 capital 0.6 187.6 189.3 Total capital 3,500 3,858 4,037 RWA 21,497 23,959 24,459 CET 1 capital ratio3 14.5% 13.0% 12.9% Tier 1 capital ratio 16.2% 15.3% 15.7% Consolidated capital adequacy ratio 16.2% 16.1% 16.5% Consolidated leverage ratio4 5.16% 5.03% 5.09% HQLA5 Y7.2trn Y8.0trn Y7.9trn LCR5 234.1% 212.9% 214.0% TLAC ratio (RWA basis) 28.1% 27.2% 26.8% TLAC ratio (Total exposure basis) 9.9% 10.0% 9.7% RWA and CET 1 capital ratio3 (trillions of yen) RWA (lhs) Post Basel III finalization CET 1 capital ratio (rhs) 28.0 20.0% 14.5% 21.0 13.2% 13.0% 13.0% 12.9% 15.0% 14.0 10.0% 7.0 5.0% 0.0 FY24/25 FY25/26 0.0% Mar Jun Sep Dec Mar Changes in RWA2 (trillions of yen) 30.0 24.0 24.5 25.0 0.2 0.5 4.2 Operational risk 20.0 3.7 -0.2 6.7 6.5 Market risk 15.0 10.0 Credit risk6 13.5 13.7 5.0 0.0 Dec 25 Mar 26 1. Net leverage: Total assets minus securities purchased under agreements to resell and securities borrowed, divided by Nomura Holdings shareholders equity 2. HQLA and LCR as of the end of March 2026 are final figures. Other figures are preliminary. 3. CET 1 capital ratio is defined as Tier 1 capital minus Additional Tier 1 capital divided by risk-weighted assets. 4. Tier 1 capital divided by exposure (sum of on-balance sheet exposures and off-balance sheet items). 5. Daily average for each quarter. 6. Credit risk includes CVA. 17


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Financial Supplement


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Consolidated balance sheet Consolidated balance sheet (billions of yen) Mar 31, Mar 31, Increase Mar 31, Mar 31, Increase 2025 2026 (Decrease) 2025 2026 (Decrease) Assets Liabilities Total cash and cash deposits 5,515 5,649 134 Short-term borrowings 1,117 1,753 635 Total payables and deposits 7,249 8,698 1,449 Total loans and receivables 7,449 9,543 2,094 Total collateralized financing 18,646 18,066 -580 Trading liabilities 11,379 12,916 1,537 Total collateralized agreements 18,664 17,550 -1,114 Other liabilities 1,457 1,814 357 Long-term borrowings 13,374 15,545 2,171 Total trading assets and private 1 22,524 26,342 3,818 Total liabilities 53,221 58,791 5,570 equity and debt investments Total other assets1 2,651 3,562 911 Equity Total NHI shareholders’ equity 3,471 3,708 237 Noncontrolling interest 110 147 37 Total assets 56,802 62,646 5,844 Total liabilities and equity 56,802 62,646 5,844 1. Including securities pledged as collateral. 19


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Value at risk Definition From April 1, 2025, to March 31, 2026 (billions of yen) - 95% confidence level - Maximum: 7.7 - 1-day time horizon for outstanding portfolio - Minimum: 3.1 - Inter-product price fluctuations considered - Average: 5.1 (billions of yen) FY2024/25 FY2025/26 FY2024/25 FY2025/26 Mar Mar Mar Jun Sep Dec Mar Equity 2.0 4.5 2.0 3.2 3.6 4.8 4.5 Interest rate 2.1 2.9 2.1 2.2 2.2 2.6 2.9 Foreign exchange 1.5 1.1 1.5 1.6 1.5 1.3 1.1 Sub-total 5.6 8.5 5.6 7.0 7.3 8.7 8.5 Diversification benefit -1.8 -2.7 -1.8 -2.5 -2.4 -2.5 -2.7 VaR 3.8 5.8 3.8 4.5 4.9 6.2 5.8 19


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Consolidated financial highlights (billions of yen) 400 362.1 12% 340.7 10.1% 10.0% Net income (loss) 300 9% attributable to Nomura Holdings, Inc. (“NHI”) shareholders 200 6% ROE 100 3% 0 0% FY2024/25 FY2025/26 Net revenue 1,892.5 2,167.7 Income (loss) before income taxes 472.0 539.8 Net income (loss) attributable to Nomura 340.7 362.1 Holdings, Inc. (“NHI”) shareholders Total NHI shareholders’ equity 3,470.9 3,707.9 ROE (%)1 10.0% 10.1% Basic-Net income (loss) attributable to NHI 115.30 123.08 shareholders per share (yen) Diluted-Net income (loss) attributable to NHI 111.03 118.99 shareholders per share (yen) Total NHI shareholders’ equity per share (yen) 1,174.10 1,277.99 120 12.0% 12% 104.6 11.3% 10.8% 10.1% 92.1 91.6 90 10.0% 9% 72.0 73.9 60 6% 30 3% 0 0% FY2024/25 FY2025/26 4Q 1Q 2Q 3Q 4Q 452.7 523.3 515.5 551.8 577.2 97.7 160.3 136.6 135.2 107.7 72.0 104.6 92.1 91.6 73.9 3,470.9 3,476.0 3,485.3 3,651.8 3,707.9 10.0% 12.0% 11.3% 10.8% 10.1% 24.35 35.19 31.34 31.21 25.29 23.39 34.04 30.49 30.19 24.34 1,174.10 1,177.31 1,188.05 1,244.72 1,277.99 1. Quarterly ROE is calculated using annualized year-to-date net income. 21


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Consolidated income (billions of yen) FY2024/25 FY2025/26 FY2024/25 FY2025/26 4Q 1Q 2Q 3Q 4Q Revenue Commissions 407.0 455.3 100.3 100.6 105.0 119.2 130.4 Fees from investment banking 212.2 200.5 53.3 38.4 44.6 59.0 58.6 Asset management and portfolio service fees 378.2 468.6 96.8 92.9 102.5 122.7 150.6 Net gain on trading 580.1 696.9 158.4 142.2 171.9 190.7 192.0 Gain (loss) on private equity and debt investments 7.6 12.6 1.2 6.3 4.4 1.6 0.3 Interest and dividends 2,927.9 2,669.6 630.9 649.6 652.8 712.5 654.8 Gain (loss) on investments in equity securities 0.4 13.1 -0.1 -0.4 4.4 4.5 4.6 Other 223.3 241.8 38.5 127.0 75.6 17.8 21.5 Total revenue 4,736.7 4,758.5 1,079.4 1,156.6 1,161.2 1,227.9 1,212.8 Interest expense 2,844.3 2,590.8 626.6 633.3 645.8 676.2 635.6 Net revenue 1,892.5 2,167.7 452.7 523.3 515.5 551.8 577.2 Non-interest expenses 1,420.5 1,627.9 355.0 363.0 378.8 416.5 469.5 Income (loss) before income taxes 472.0 539.8 97.7 160.3 136.6 135.2 107.7 Net income (loss) attributable to NHI shareholders 340.7 362.1 72.0 104.6 92.1 91.6 73.9 22


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Main revenue items (billions of yen) FY2024/25 FY2025/26 FY2024/25 FY2025/26 4Q 1Q 2Q 3Q 4Q Commissions Stock brokerage commissions 264.5 295.2 66.3 62.8 67.2 79.9 85.3 Other brokerage commissions 17.5 20.3 4.7 4.7 4.5 3.3 7.8 Commissions for distribution of 66.1 66.3 14.0 14.3 14.3 20.9 16.9 investment trusts Other 58.9 73.5 15.3 18.7 19.1 15.1 20.5 Total 407.0 455.3 100.3 100.6 105.0 119.2 130.4 Fees from Equity underwriting and distribution 52.9 41.0 8.6 3.6 5.0 15.1 17.3 Investment banking Bond underwriting and distribution 48.4 47.0 13.2 13.8 11.4 10.8 10.9 M&A / Financial advisory fees 78.7 83.0 24.7 15.6 19.7 24.2 23.5 Other 32.2 29.5 6.7 5.4 8.4 8.9 6.9 Total 212.2 200.5 53.3 38.4 44.6 59.0 58.6 Asset Management Asset management fees 235.9 311.7 60.8 58.3 64.5 81.6 107.3 and portfolio Administration fees 109.1 120.6 27.6 26.3 29.0 31.8 33.5 service fees Custodial fees 33.2 36.3 8.5 8.2 9.0 9.3 9.8 Total 378.2 468.6 96.8 92.9 102.5 122.7 150.6 23


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Consolidated results: Income (loss) before income taxes by segment and region Adjustment of consolidated results and segment results: Income (loss) before income taxes (billions of yen) FY2024/25 FY2025/26 FY2024/25 FY2025/26 4Q 1Q 2Q 3Q 4Q Wealth Management1 166.2 204.0 35.9 38.8 45.5 58.5 61.2 Investment Management 89.6 88.3 15.5 21.5 30.7 17.9 18.1 Wholesale 166.3 200.6 37.5 41.9 53.1 62.3 43.2 Banking1 16.4 14.0 3.1 3.6 3.2 4.2 3.0 Four business segments total1 438.4 506.9 92.0 105.8 132.6 142.9 125.6 Other1 35.1 24.6 5.9 54.6 2.3 -10.3 -22.0 Segments total 473.5 531.6 97.9 160.4 134.9 132.6 103.7 Unrealized gain (loss) on investments in equity -1.5 8.3 -0.2 -0.1 1.8 2.7 4.0 securities held for operating purposes Income (loss) before income taxes 472.0 539.8 97.7 160.3 136.6 135.2 107.7 Geographic information: Income (loss) before income taxes 2 (billions of yen) FY2024/25 FY2025/26 FY2024/25 FY2025/26 4Q 1Q 2Q 3Q 4Q Americas 65.8 61.9 14.4 15.6 29.1 17.1 0.1 Europe 20.3 -31.1 5.9 -7.0 0.4 -10.6 -13.8 Asia and Oceania 50.9 60.8 8.1 18.9 15.4 9.8 16.6 Subtotal 137.0 91.5 28.5 27.5 44.9 16.3 2.9 Japan 335.0 448.3 69.3 132.8 91.8 118.9 104.8 Income (loss) before income taxes 472.0 539.8 97.7 160.3 136.6 135.2 107.7 1. Retrospective adjustments made to prior years figures following the establishment of Banking Division. 2. Geographic information is based on U.S. GAAP (Figures are preliminary for the three months ended March 31, 2026). Nomura s revenues and expenses are allocated based on the country of domicile of the legal entity providing the service. This information is not used for business management purposes. 24


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Segment Other Income (loss) before income taxes (billions of yen) 60 54.6 45 35.1 30 24.6 15 5.9 2.3 0 -15 -10.3 -22.0 -30 1 2 FY2024/25 FY2025/26 FY2024/25 FY2025/26 4Q 1Q 2Q 3Q 4Q Net gain (loss) related to economic -5.8 -2.9 2.2 1.1 -0.2 -1.0 -2.9 hedging transactions Realized gain (loss) on investments in equity 1.5 3.3 0.3 0.0 2.2 1.1 0.0 securities held for operating purposes Equity in earnings of affiliates 51.2 36.5 9.7 12.3 12.4 17.6 -6.0 Corporate items -5.9 -42.0 -5.1 -11.6 -15.2 -9.6 -5.5 Others1 -5.9 29.8 -1.2 52.9 3.0 -18.5 -7.6 Income (loss) before income taxes1 35.1 24.6 5.9 54.6 2.3 -10.3 -22.0 1. Retrospective adjustments made to prior years figures following the establishment of Banking Division. 25


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Wealth Management related data (1) (billions of yen) FY2024/25 FY2025/26 FY2024/25 FY2025/26 4Q 1Q 2Q 3Q 4Q QoQ YoY Commissions 183.6 217.5 43.3 46.2 52.1 58.7 60.6 3.1% 39.8% Of which, stock brokerage commission 72.2 96.0 17.4 18.3 22.7 24.7 30.3 22.4% 74.3% Of which, commissions for distribution of 65.9 66.1 14.3 14.2 14.3 20.8 16.8 -19.0% 17.6% investment trusts Sales credit 52.5 49.3 10.8 11.6 12.6 13.1 12.0 -8.9% 10.3% Fees from investment banking and other 27.3 25.6 3.7 5.2 3.9 8.8 7.6 -13.3% 106.7% Investment trust administration fees and other 156.7 176.1 40.2 38.7 42.9 46.4 48.1 3.6% 19.6% Net interest revenue1 13.4 19.4 1.9 4.0 5.0 5.4 4.9 -9.0% 160.5% Net revenue1 433.6 487.9 99.9 105.8 116.5 132.5 133.1 0.5% 33.2% Non-interest expenses1 267.4 283.9 64.0 67.0 71.0 74.0 71.9 -2.8% 12.3% Income before income taxes1 166.2 204.0 35.9 38.8 45.5 58.5 61.2 4.7% 70.5% Domestic distribution volume of investment trusts 3,882.8 4,097.9 838.3 827.1 854.6 1,178.9 1,237.4 5.0% 47.6% Stock investment trusts 3,107.2 3,252.4 712.3 724.1 708.5 984.0 835.8 -15.1% 17.3% Foreign investment trusts 775.6 844.7 126.0 102.9 146.0 194.3 401.4 106.6% 3.2x Other Sales of JGBs for individual investors (transaction 317.9 278.9 76.8 82.0 33.5 80.8 82.6 2.3% 7.6% base) 1. Retrospective adjustments made to prior years figures following the establishment of Banking Division. 26


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Wealth Management related data (2) Wealth Management client assets (trillions of yen) 200 Other 175.8 172.6 175.8 162.3 Foreign investment 153.2 143.8 143.8 trusts 150 Bond investment trusts Stock investment 100 trusts Domestic bonds 50 Foreign currency bonds Equities 0 FY2024/25 FY2025/26 FY2024/25 FY2025/26 Mar Mar Mar Jun Sep Dec Mar Equities 92.2 117.6 92.2 99.7 106.2 114.3 117.6 Foreign currency bonds 6.5 6.9 6.5 6.5 6.8 7.0 6.9 Domestic bonds1 14.2 14.7 14.2 14.7 14.8 14.8 14.7 Stock investment trusts 13.3 16.1 13.3 14.2 15.2 16.5 16.1 Bond investment trusts 6.7 7.0 6.7 6.8 7.2 7.2 7.0 Foreign investment trusts 2.0 2.7 2.0 2.0 2.1 2.3 2.7 Other2 8.8 10.8 8.8 9.3 10.0 10.5 10.8 Total 143.8 175.8 143.8 153.2 162.3 172.6 175.8 1. Including CBs and warrants 2. Including annuity insurance. 27


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Wealth Management related data (3) Net inflows of cash and securities1 (billions of yen) Wealth Management total 6,000 Retail only 3,000 5,263 2,720 5,000 2,500 2,259 4,000 2,000 3,000 1,500 2,000 1,521 1,000 1,288 1,276 744 519 1,000 500 380 398 168 296 309 0 0 -1,000 -500 -461 FY2024/25 FY2025/26 FY2024/25 FY2025/26 4Q 1Q 2Q 3Q 4Q Wealth Management total 1,288 5,263 380 2,259 744 -461 2,720 Retail only2 1,276 1,521 168 519 296 398 309 Inflows of cash and securities3 6,256 7,639 1,381 1,809 1,753 2,062 2,015 1. Cash and securities inflows minus outflows, excluding regional financial institutions. 2. Retail excludes Corporate section, Private Wealth Management and Workplace Service from Wealth Management total. 3. Retail Only. 28


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3 Wealth Management related data (4) Number of accounts (thousands) FY2024/25 FY2025/26 FY2024/25 FY2025/26 Mar Mar Mar Jun Sep Dec Mar Accounts with balance 5,934 6,095 5,934 5,965 5,998 6,075 6,095 Equity holding accounts 3,285 3,310 3,285 3,292 3,292 3,301 3,310 NISA accounts opened 1,779 1,900 1,779 1,800 1,816 1,877 1,900 Online service accounts 5,974 6,377 5,974 6,053 6,140 6,278 6,377 New individual accounts / IT share1 (thousands) FY2024/25 FY2025/26 FY2024/25 FY2025/26 4Q 1Q 2Q 3Q 4Q New individual accounts 372 440 109 103 103 113 121 IT share1 No. of orders 85% 85% 87% 86% 85% 83% 85% Transaction value 60% 59% 62% 59% 60% 58% 59% 29


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Investment Management related data (1) Net revenue and income (loss) before income taxes (billions of yen) FY2024/25 FY2025/26 FY2024/25 FY2025/26 QoQ YoY 4Q 1Q 2Q 3Q 4Q Business revenue 163.7 223.7 43.3 40.6 44.1 57.8 81.2 40.4% 87.7% Investment gain/loss 28.8 34.8 -0.2 9.9 16.8 3.1 5.0 63.7% -Net revenue 192.5 258.5 43.0 50.6 60.8 60.9 86.2 41.5% 100.5% Non-interest expenses 102.9 170.2 27.5 29.0 30.1 43.0 68.1 58.5% 147.9% Income (loss) before income taxes 89.6 88.3 15.5 21.5 30.7 17.9 18.1 1.0% 16.6% Asset under management by company1 (trillions of yen) FY2024/25 FY2025/26 FY2024/25 FY2025/26 Mar Mar Mar Jun Sep Dec Mar Nomura Asset Management 88.1 111.3 88.1 93.0 99.7 108.4 111.3 Nomura Asset Management 2 5.5 34.1 5.5 8.8 9.3 34.9 34.1 International, etc. Assets under management (gross)3 93.6 145.4 93.6 101.8 109.1 143.3 145.4 Group company overlap 4.3 8.5 4.3 7.5 7.8 8.6 8.5 Assets under management (net)4 89.3 136.9 89.3 94.3 101.2 134.7 136.9 1. From FY 2024/25 onward, assets under management (gross) of Nomura Asset Management and the Group company overlap decreased by a similar amount owing to the reorganization in the Americas on April 1, 2024. Includes the assets under management of Macquarie Group s Public Asset Management business (acquired on 1 December 2025). 2. The assets under management (gross) of Nomura Corporate Research and Asset Management etc, and the Group company overlap increased by the same amount due to the transfer of Nomura Fiduciary Research & Consulting to the Investment Management division effective April 1, 2025. Established Nomura Asset Management International by integrating Nomura Capital Management and Nomura Corporate Research and Asset Management (Nomura s core U.S. investment management entities) with the acquired business. 3. Total of assets under management (gross) of asset management companies within the Investment Management division. 4. Net after deducting Group company overlap from assets under management (gross). 30


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Investment Management related data (2) Asset inflows/outflows by business1 (billions of yen) FY2024/25 FY2025/26 FY2024/25 FY2025/26 4Q 1Q 2Q 3Q 4Q Domestic investment trusts business 2,113 1,204 274 -207 525 71 816 of which ETFs 987 -23 673 -667 77 -105 673 Domesetic investment advisory and 536 -762 40 315 -26 44 -1,095 international businesses, etc. Total net asset inflow 2,648 443 314 108 498 115 -279 Domestic public investment trust market and Nomura Asset Management market share2 (trillions of yen) FY2024/25 FY2025/26 FY2024/25 FY2025/26 Mar Mar Mar Jun Sep Dec Mar Domestic public investment trusts Market 236.3 305.5 236.3 254.3 276.8 301.6 305.5 Nomura Asset Management share (%) 25% 25% 25% 25% 24% 24% 25% Domestic public stock investment trusts Market 221.5 289.1 221.5 239.0 260.4 284.7 289.1 Nomura Asset Management share (%) 24% 23% 24% 23% 23% 23% 23% Domestic public bond investment trusts Market 14.8 16.4 14.8 15.3 16.4 16.9 16.4 Nomura Asset Management share (%) 44% 43% 44% 44% 44% 43% 43% ETF Market 85.8 113.9 85.8 92.3 100.4 109.9 113.9 Nomura Asset Management share (%) 44% 44% 44% 44% 44% 44% 44% 1. Based 2. Source: Investment Trusts Association, Japan. 31


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Wholesale related data Net revenue and income (loss) before income taxes (billions of yen) FY2024/25 FY2025/26 FY2024/25 FY2025/26 QoQ YoY 4Q 1Q 2Q 3Q 4Q Net revenue 1,057.9 1,162.2 259.2 261.1 279.2 313.9 308.1 -1.9% 18.9% Non-interest expenses 891.7 961.7 221.7 219.2 226.0 251.6 264.8 5.3% 19.5% Income (loss) before income taxes 166.3 200.6 37.5 41.9 53.1 62.3 43.2 -30.6% 15.3% Breakdown of Wholesale revenue (billions of yen) FY2024/25 FY2025/26 FY2024/25 FY2025/26 QoQ YoY 4Q 1Q 2Q 3Q 4Q Fixed Income 499.2 509.0 105.8 124.8 121.9 136.9 125.3 -8.5% 18.4% Equities 375.4 459.2 101.1 98.3 113.8 119.9 127.2 6.1% 25.8% Global Markets 874.6 968.1 206.9 223.1 235.7 256.8 252.5 -1.7% 22.0% Investment Banking 183.3 194.1 52.3 37.9 43.5 57.1 55.6 -2.6% 6.3% Net revenue 1,057.9 1,162.2 259.2 261.1 279.2 313.9 308.1 -1.9% 18.9% 32


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Number of employees FY2024/25 FY2025/26 FY2024/25 FY2025/26 Mar Mar Mar Jun Sep Dec Mar Japan 14,877 15,017 14,877 15,317 15,144 15,061 15,017 Europe 3,133 3,269 3,133 3,155 3,173 3,237 3,269 Americas 2,417 3,028 2,417 2,476 2,450 3,030 3,028 Asia and Oceania1 6,815 7,363 6,815 6,960 7,109 7,273 7,363 Total 27,242 28,677 27,242 27,908 27,876 28,601 28,677 1. Includes Powai office in India. 33


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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 unless otherwise indicated. 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 (https://www.nomura.com) and on the SEC s website (https://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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