Nomura Holdings, Inc. · TSE:8604
Nomura — Q3 FY2013/14 Earnings Presentation
38 slides from Nomura's earnings presentation, Feb 5, 2014
Slide 1: Form 6-K Nomura Holdings, Inc.
Table of Contents FORM 6-K U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 Commission File Number: 1-15270 For the month of February 2014 NOMURA HOLDINGS, INC. (Translation of reg
Slide 2: Information furnished on this form
Table of Contents Information furnished on this form: EXHIBIT Exhibit Number 1. Consolidated Results of Operations (US GAAP), Third quarter, year ending March 2014
Slide 3: Signatures
Table of Contents SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. NOMURA HOLDINGS, INC. Date: February 5, 2014 By: /s/ Eiji Miura Eiji Miura Senior Man
Slide 4: Consolidated Results of Operations (US GAAP), Third quarter, year ending March 2014
Table of Contents Connecting Consolidated Third (US Nomura January GAAP) quarter, 2014 Holdings, Markets Results © year Nomura Inc. ending East of Operations &March West 2014
Slide 5: Presentation Outline
Table of Contents Presentation Outline Executive Overview Business Retail Non-interest Robust Funding Asset Wholesale 2NumberManagement (p. financial of and segment 6-7) of summary (p. related employees Financial expenses results liquidity 10-12) Consolidated position results data (p. related (p. Co
Slide 6: Executive Summary
Table of Contents (1)Net (3) Executive Highlights Significant FY2013/14 –All Income Firm-wide One-off offering Estate 1Q-3Q: 86.9 (50.1) 13.0 19.7 35.4 Three Wholesale Asset Retail 71.9 9.0 FY2012/13 1QIncome ROE3: Sales Strong Net Calculated 2Q 15.7 business 71.4 revenue: income1: revenue Managemen
Slide 7: Financial Highlights
Table of Contents Overview (billions Highlights FY2013/14 QoQ 3Q Non-interest Income Net EPS2 ROE3 (1) (2) (3) (4) Net Diluted Calculated FY2012/13 1Q-3Q revenue income1 YoY 12.65 7.9% income before ofof 4net yen, FY2013/14 YoY yen 8.5% 379.4 expenses results 48.3 using income figures attributable e
Slide 8: Business Segment Results
Table of Contents Business (billions QoQ revenue Wholesale2 Net before (loss) income Segment taxes Other2 Unrealized equity Income 3Q 2) 3) 4) (1) (2) in (3)Other. Unrealized Loss The FY2012/13 During 1Q-3Q additional Retail revenue YoY Asset securities 2), Wholesale2 majority from Retail before Ass
Slide 9: Retail Segment Results
Table of Contents (billions QoQ 3Q Net JGBs Non-interest Income conditions Client Retail (trillions 96.0 83.8 –73.6 *Launched Other FY2012/13 Dec (1) (2) (3) Amundi Sales Bond Retail Net Nomura Excluding Retail 4Q revenue Mar Recurring 87.7 Sales YoY for asset sales client franchise 1Q of sales, bef
Slide 10: Retail: Key Items
Table of Contents (1)Retail (2) (3)Planned (4)Apr (5)Automatic Retail: 0F 2,000 3,000 4,000 5,000 6,000 7,000 Net (billions (annualized) Recurring 42.4 49.1 1,400 600 1,000 (plan)3 200 188 -200 FY2012/13 3Q Total Stocks: Investment Bonds: Nippon Encouraging Seminars4: –Products Account Y2012/13 High
Slide 11: Asset Management Segment Results
Table of Contents Asset Key Income Record Strong Continued Conducting distribution Nomura -Fund Next Funds-i: Investment Domestic: International: Stocks: Bonds: (billions QoQ 3Q Net Assets (trillions 36.1 40.3 32.7 29.1 FY2012/13 25.1 27.9 Dec (1) (2) (3) Nomura Bank/Japan As Total Net 4Q revenue: r
Slide 12: Asset Management: Assets under Management
Table of Contents Asset Assets (trillions 40.0 40.3 50.0 32.7 30.0 10.0 20.0 0.0 Nomura 24.0% market2 23.0% FY2012/13 19.0% 20.0% 21.0% 22.0% 22.3% Dec Investment (billions 600 900 873 300 307 406 138 48 0F 3Q Strengthening Announced (ING Taiwan, platform Morningstar -Awards (1) (2) (5) AuM: Aim Y20
Slide 13: Wholesale Segment Results
Table of Contents KeyDuring Wholesale Securitized Regional Japan Robust Fixed Americas Revenues EMEA Rates AEJ FX (1) 10 QoQ Global Investment Non-interest Income Net (billions 58.9 200.0 41.2 150.0 54.1 100.0 24.5 50.0 58.8 FY2012/13 0.0 31.5 3Q 4Q slowed revenue: revenue points (Y21.9bn; 50.5 44.7
Slide 14: Wholesale: Global Markets
Table of Contents Credit Booked Equities Lower Stronger Americas: EMEA: Japan: AEJ: (1) (2) Wholesale: Net (billions Fixed QoQ 165.3 59.9 41.9 65.8 116.2 97.6 FY2012/13 3Q Key FY2013/14 YoY Global Markets 0% Japan AEJ EMEA Americas Fixed During 4Q ~revenue1 revenue revenue: points YoY 67.8 58.8 93.8
Slide 15: Wholesale: Investment Banking
Table of Contents 33.4 30.9 23.8 29.3 13.2 23.4 17.7 FY2012/13 3Q Key Net Other Investment Revenues Japan Solutions IPOs International Increase Progress High-profile Sponsor1 ECM/DCM League #1 #10 MONCLER (€784m)(Ł Stock IPO Toppan (Ł259m)(HK$10.6bn)(Y125.6bn) BFCM Euro-Yen Winning M&A (Y82.2bn)(Tot
Slide 16: Non-interest Expenses
Table of Contents Key Bonus Lower Booked Non-interest 13 expenses and Excluding (Reference) benefits Full (billions 1,575.9 1,500 376.1 900 292.5 318.1 1,200 600 0300 FY2012/13 FY2011/12 3Q Compensation Commissions Information brokerage Occupancy communications Business depreciation Other Total 0 4Q
Slide 17: Robust Balance Sheet
Table of Contents Robust Balance (As Shareholders’ Gross Liquidity (Basel RWA3 Total Risk (trillions Tier 20.0 15.0 10.0 10.4% 5.0 0.0 applied balance Level (estimate) (billions Net 1,000 25% 500 019% FY2012/13 Dec (1) (2) (3) (4) 0%Tier Net Preliminary. Credit 5.0% Fully leverage1 Level of 17% Mar
Slide 18: Funding and Liquidity
Table of Contents (1)Y6.3trn, (2) (3) Funding Highly –Liquidity Balance Assets Trading Other Unsecured More long-term Diversified 16% debt Short-term within 23%(incl. subordinated) Long-term market debt, Average maturity 4.7 wholesale MTN/Other, Euro bonds, Breakdown short-term/long- term 83% Other
Slide 19: Financial Supplement
Table of Contents Financial Supplement
Slide 20: Consolidated Balance Sheet
Table of Contents Consolidated (billions Mar. 2013 Assets Trading Long-term private Noncontrolling Total 1. 17 Including 31, 2013(Decrease) cash payables loans collateralized trading other NHI assets Liabilities equity liabilities of Dec and shareholders’ borrowings assets1 and yen) 37,942 securitie
Slide 21: Value at Risk
Table of Contents ValueMar Definition 99% 1-day Inter-product (billions Mar Equity Interest Foreign Sub-total Diversification VaR 18 7.2 confidence time at1.4 rate exchange 5.1 risk of Dec 10.4 From 1.3 horizon yen) 7.2 6.5 price Mar 8.1 2.4 benefit 5.1 5.0 FY2011/12 level April 2.5 11.0 1.3 Jun flu
Slide 22: Consolidated Financial Highlights
Table of Contents (1)0% Consolidated Full 120 107.2 11.6 FY2011/12 Income Net Holdings, ROE Basic-Net Diluted-Net shareholders Total (billions Quarter (yen) 100 80 82.4 40 6% 48.3 60 8% 65.9 20 04% FY2012/13 3Q 389.1 13.0 20.1 2,167.9 1.5% 5.44 5.33 585.27 19 0.6% 8.9% 4.9% 2% Quarterly 4Q revenue i
Slide 23: Consolidated Results
Table of Contents Consolidated Full (billions FY2011/12 3Q Commissions Revenue Fees Asset Gain Other Total Interest Non-interest Income Net 20 4Q gain revenue income year from on revenue management 563.2 1Q and expense before private investments of on Quarter investment 2Q yen) FY2012/13 attributabl
Slide 24: Main Items: Commissions and Fees
Table of Contents Mainportfolio Full FY2012/13 (billions Stock Commissions Other Equity Bond Fees investment Asset and fees Total 21 Custodial year from 347.1 59.6 144.3 revenue underwriting management brokerage 32.4 underwriting of Quarter M&A 62.4 32.6 trusts banking yen) 359.1 141.0 FY2013/14 ser
Slide 25: Consolidated Results by Segment and Region
Table of Contents Consolidated by Adjustment FY2012/13 Retail Asset Wholesale1 Three Other1 Segments Unrealized securities (billions FY2011/12 3Q Americas Europe Asia Subtotal Japan Income (1) (2) legal segment Due Geographic 4Q and entity Management 214.1 Business 63.1 1Q 35.2 -91.5 (loss) to -129.
Slide 26: Segment Information: Other
Table of Contents (1)06.6 Segment Income Full (billions 60 40 35.2 020 -20 -40 -60 -80 FY2012/13 3Q Net 8.4 Realized 0.2 -67.9 23 50.1 40 Due 4Q 1.0 -7.0 -40 -60 -67.9 gain year 50.1 20 1Q 0.4 -0.0 (loss) 60 to -3.5 of (loss) gain(loss) “Other” Quarter -80 -7.0 a2Q 0.8 yen)(billions FY2013/14 1.2 re
Slide 27: Retail Segment Results and Related Data
Table of Contents FullExcluding FY2012/13 (billions 3Q Commissions Fees Investment Net Non-interest Income Domestic trusts1 Bond Stock Foreign Accumulated Other Sales policies (transaction Retail (1) 24 4Q interest revenue year from credit of investment investment related foreign 8,933.9 1Q before i
Slide 28: Retail: Commissions for Distribution of Investment Trusts
Table of Contents Retail Full 150 180 120 commissions distribution trusts Stock (billions Quarter 0F 10 20 30 40 50 60 70 QoQ 3Q 10.7 Commissions trusts1 (1) 25Y2011/12 Y2012/13 Nomura 4Q year 26.6 YoY brokerage related 139.9 1Qof42.5 2Q yen) FY2012/13 FY2013/14 of Securities. 161.5 data(2) for 3Q i
Slide 29: Retail: Client Assets
Table of Contents Retail (trillions Other 83.8 60 FY2011/12 Mar Equities Foreign Domestic Stock Bond Overseas Other2 Total (1) (2) 26 Including Mar 83.8 72.0 investment 100 investment related client 2.3 currency 0of 37.2 Dec mutual 87.7 bonds 90.9 83.8 2.7 FY2012/13 yen) assets CBs annuity 46.7 data
Slide 30: Retail: Net Asset Inflow
Table of Contents (1)-38 27 Retail Full (billions 1,225 4,000 2,400 1,100 1,035 360 500 2,000 700 38 0188 FY2012/13 FY2011/12 3Q 100 Excluding 4Q year -100 1,300 900 300 related client 1Qof Quarter 2Q yen)(billions FY2012/13 FY2013/14 assets: data regional 3Q (4)Netfinancial asset of yen) inflow1 in
Slide 31: Retail: Accounts and Market Share
Table of Contents Retail Number Mar Accounts Equity Nomura Net Dec 5,006 2,710 3,846 Full (Thousands) Quarter New IT No. Transaction FY2012/13 3Q 63 53% 29% (1) 28 share1 82 Percentage 4Q &of Mar year 57% 34% Individual individual 5,025 2,717 3,747 101 related Call orders holding 1Qof Home Jun with
Slide 32: Asset Management Results and Related Data
Table of Contents Asset (billions FY2011/12 3Q Net Non-interest Income Total (trillions 40.0 40.3 31.9 (gross) AuM 20.0 FY11/12 0.0 10.0 (net) Mar (1) (2) Total Net 4Q revenue Mar 36.1 32.7 assets 30.0 2 Management 1Q 1after before of assets of FY12/13 24.6 Dec 36.1 32.9 27.9 2Q yen) FY2012/13 yen)
Slide 33: Asset Management: Assets under Management
Table of Contents FY11/12 Asset Full FY12/13 (billions 3Q ETFs Investment business Net Research Management Capital (gross)1 Group Assets overlap (net)3 Nomura (trillions Mar Domestic investment Market Nomura’s (1) (2) and (3) Assets Total Net 4Q Technologies2 Technologies asset year Mar 347 Manageme
Slide 34: Wholesale Results and Related Data
Table of Contents Wholesale FY2012/13 Non-interest Income Breakdown (billions FY2011/12 3Q Fixed Equities Global Other Net Investment (1) (2) Due Fixed 4Q revenue 23.9 Income 1Q Markets (Loss) to 181.2 ofIncome a2Q related 12.4 yen) Banking(Net) Banking Banking(Gross) FY2012/13 FY2013/14 of reorgani
Slide 35: Wholesale: Private Equity Related Data
Table of Contents Wholesale Private (billions 300 Firma) 0F Mar Japan Europe Asia Sub Terra Total 107.0 FY2012/13 61.2 Dec 53.2 21.1 1.8 76.2 26.9 103.1 32 Y2011/12 2.0 Total Mar 52.7 21.8 76.5 28.1 200 1.9 221.3 Firma 102.1 104.6 100 65.5 104.6 1.9 equity (excluding 2.0 of Jun 52.5 22.9 77.4 29.6 9
Slide 36: Number of Employees
Table of Contents Number FY2011/12 Mar Japan Europe Americas Asia-Pacific1 Total (1) 33 Includes Mar 34,395 (excluding (FA) 4,014 of Dec 2,420 employees 2,011 FY2012/13 Powai 27,956 3,618 Mar 6,352 2,271 FA) 1,907 Jun office 3,747 6,037 34,098 19,598 2,316 Sep FY2012/13 1,951 in 3,618 6,207 Dec 27,9
Slide 37: Disclaimer
Table of Contents Disclaimer Nothing securities or accepted without This be nature, Actual factors, SEC’s secondary Forward-looking The Cautionary References reliable All Taking Alternative sales read rights information information consolidated document website results are every in as but may the in
Slide 38: Nomura Holdings, Inc. www.nomura.com
Table of Contents Nomura Holdings, Inc. www.nomura.com