Nomura Holdings, Inc. · TSE:8604
Nomura — Q3 FY2014/15 Earnings Presentation
38 slides from Nomura's earnings presentation, Feb 5, 2015
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 2015 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), the third quarter, year ending March 2015
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, 2015 By: /s/ Hajime Ikeda Hajime Ikeda Managi
Slide 4: Consolidated Results of Operations (US GAAP), Third Quarter
Table of Contents Consolidated Third (US Nomura January © Nomura GAAP) quarter, 2015 Holdings, Results year Inc. ending of Operations March 2015
Slide 5: Presentation Outline
Table of Contents Executive Presentation Outline Overview Business Non-interest Robust Funding Financial Value Main Consolidated segment Segment Retail Asset Wholesale Numberrevenue Management at (p. related financial risk of and “Other” segment Supplement 5-6) of summary (p. related employees expen
Slide 6: Executive Summary
Table of Contents Executive Highlights 7.3%; FY2014/15 EPS3: before Group gain spread –Share capital Of options Total Period: Update Acquired Plan Net Calculated Diluted Income Group(billions 113.2 +57% 86.9 72.9 51.7 Three 113.0 84.4 Retail 71.4 62.1 FY2013/14 45.6 21Q Affiliates Yen Ongoing Net Re
Slide 7: Overview of Financial Highlights
Table of Contents Overview (billions Highlights Non-interest Income Net -5% -6% -11% +4% +0.2% 7.3% Y38.03 142.8 241.8 927.9 1,169.7 1Q-3Q +48% +45% +34% +6% +12% YoY +32% +57% +3% +14% QoQ 10.6% Y18.72 70.0 116.1 308.9 425.0 3Q FY2014/15 ROE3 EPS2 Diluted 3Calculated revenue income1 income before n
Slide 8: Business segment results
Table of Contents Business (billions Asset revenue Wholesale Net income before taxes Other Subtotal securities Income + -29% +5% +6% +12% +78% +134% -2% -5% +10% +1% +57% 17.7x -13% -98% +20% +30% 4.3x +102% +0.3% +8% +9% QoQ 116.1 44.8(*) 60.3 0.5 9.3 50.5 425.0 11.0 82.8 331.2 178.9 23.4 128.8 -3Q
Slide 9: Retail segment results
Table of Contents Non-interest +6% -2% +1% YoY +30% -1% +9% QoQ 50.5 78.3 128.8 38.9 79.1 117.9 2Q 31.6 75.3 106.9 1Q FY2014/15 23.3 74.6 97.9 4Q 47.7 80.3 128.0 (billions 5,000 Stocks FY2013/14 3Q securities Key Income -Net Client *Figures (Y484.8bn) (1.41m) (5.21m) (Y99.3trn) Y176.6bn 1.46m 5.24m
Slide 10: Retail: Key Efforts and Progress
Table of Contents Retail: 60.0 56.0 65.7 60.4 0.0 50.0 100.0 150.0 116.3 139.8 34.3 Provide Discretionary –Recurring (Y15.2bn) Y37.9bn Y374.6bn Y16.6bn *Figures (Y84.8bn) Y101.1bn Sales (billions 40.0 FY2013/14 3Q (Month 33.7 31.7 Planned 10.7 13.1 28.3 Retail 6(3) Discretionary Investment Retail 4Q
Slide 11: Asset Management segment results
Table of Contents Asset (billions QoQ Non-interest Assets (trillions 40.3 46.0 38.2 32.9 FY2013/14 30.8 Dec Key Net -Income Inflows –3Q (for Investment UCITS4 Ongoing Latin (1) 7(gross). AuM Highest Nomura Total 4Q inflows revenue revenue: Nomura Mar points 40.6 37.7 33.0 YoY America Management unde
Slide 12: Asset Management: Assets under management
Table of Contents Asset Assets (trillions 50.0 40.3 40.0 38.2 10.9 29.4 20.0 30.0 9.8 0.0 10.0 (billions 0-Investment 500 1,000 873 -1,000 501 89 298 -820 -23 3Q Nomura 24.0% FY2013/14 16.0% 18.0% 20.0% 22.0% 23.6% 22.9% Dec Growth AuM 720 128 165 232 405 UCITS5 Note: 111 134 150 185 13/09 100 (1) 8
Slide 13: Wholesale segment results
Table of Contents Wholesale FY2013/14 QoQ Global Investment Non-interest (billions 52.2 200.0 150.0 58.2 47.7 26.8 50.8 100.0 21.9 50.0 65.1 63.7 0.0 3Q Key Income Net Regional Japan AEJ Americas 9–EMEA All Challenging Equities Expenses Highest Solid Slowdown Investment Sharp Revenues 4Q FY2013/14 r
Slide 14: Wholesale: Global Markets
Table of Contents Wholesale: (billions Equities 158.0 58.8 149.7 99.2 73.5 FY2013/14 3Q Key –Net FY2014/15 YoY Japan AEJ EMEA Americas Global QoQ Fixed 0% Americas: EMEA: AEJ: Japan: 10Challenging Slower Cash 4Q ~revenue: revenue points 59.0 107.7 -5% -11% Best ±5% 166.8 Income Robust 1Q Markets bus
Slide 15: Wholesale: Investment Banking
Table of Contents Wholesale: 35.9 30.7 QoQ 2.2 22.3 11.7 29.5 0.0 19.0 -0.4 FY2013/14 3Q Key Net Investment –Maintained Solid M&A -Won Repsol Creation Clearlake SABMiller, Sage Coca-Cola Baring Mitsui (M&A Jumbo Recruit Global (Y213.8bn)(Y102.8bn)(€3.8bn)(HKD31.3bn) Banco Covered Source: (€3bn)(€499
Slide 16: Non-interest expenses
Table of Contents expenses development related processing communications floor (Reference) benefits Real Full (billions 1,500 1,575.9 400 1,200 0900 300 100 600 FY2012/13 Compensation Commissions Information Occupancy Business Other Total FY2013/14 3Q 138.8 28.0 47.8 19.0 11.0 47.9 292.5 Key –Non-in
Slide 17: Robust Balance Sheet
Table of Contents Robust Balance Mar Shareholders’ Gross Liquidity (net) (Basel RWA3 Total Risk (trillions 20.0 15.0 10.0 5.0 0.0 applied balance Level (estimate) (billions 800 17% 600 0400 200 10% FY2013/14 Dec Net Credit Preliminary. Tier 130%5.0% 0.0% leverage1 Level leverage: 30% 12% Mar 2Sep 12
Slide 18: Funding and Liquidity
Table of Contents Funding Highly Balance (As Assets and Cash Other borrowings Total Unsecured More 17% debt Short-term within 24%(incl. subordinated) Long-term market debt, Average maturity 4.9 wholesale MTN/Other, Euro bonds, Breakdown short-term/long- term –Liquidity Trading Definition Excludes 14
Slide 19: Financial Supplement
Table of Contents Financial Supplement
Slide 20: Consolidated balance sheet
Table of Contents Consolidated (billions 2014 Assets Trading Long-term equity Noncontrolling Total (1) 16 Including 2014 cash payables loans collateralized trading other NHI assets investments Liabilities liabilities ofand shareholders’ (Decrease) borrowings assets and yen) 43,520 assets1 securities
Slide 21: Value at Risk
Table of Contents Value -Definition (billions Mar Equity Interest Foreign Sub-total Diversification VaR 1799%Mar 1-day Inter-product 5.1 at confidence 1.3 time rate exchange 5.2 risk of Dec 8.1 From 1.3 yen) 8.6 5.0 horizon 8.0 Mar 3.6 price benefit 5.2 3.9 FY2012/13 April 12.9 level 1.9 1.3 Jun 9.3
Slide 22: Consolidated financial highlights
Table of Contents Consolidated Full (billions 250 213.6 200 attributable 107.2 ROE(%) 100 030 50 FY2013/14 FY2012/13 3Q Income Net (“NHI”) ROE Basic-Net Diluted-Net shareholders Total (1) 180%19.9 Quarterly 4Q revenue income 9% 70.0 year (%)1 NHI 03.2% 90 1Q 0% before 8.5% shareholders of 3% 7.3% Qu
Slide 23: Consolidated results: revenue and expenses
Table of Contents Consolidated Full (billions FY2012/13 3Q Commissions Revenue Fees Asset Gain Other Total Interest Non-interest Income Net 19 4Q gain revenue income year from (loss) revenue management 708.8 1Q and expense before of on Quarter investment 2Q on yen) FY2013/14 attributable trading div
Slide 24: Main items of revenue
Table of Contents Mainportfolio Full FY2013/14 (billions Stock Commissions Equity Bond Fees investment Other Asset and fees Total 20 Custodial year from 359.1 62.4 141.0 revenue underwriting management brokerage 32.6 7.7 underwriting of Quarter 12.0 M&A 91.3 32.1 banking yen) 474.6 167.2 FY2014/15 s
Slide 25: Consolidated business segment and geographic results
Table of Contents Consolidated Adjustment FY2013/14 Retail Asset Wholesale Three Other Segments Unrealized securities Geographic Full (billions 3Q Americas Europe Asia Subtotal Japan Income (1) not 21 Geographic 4Q used year and Management 6.6 317.2 Business 100.6 1Q -93.1 before -79.4 of for Oceani
Slide 26: Segment Other results
Table of Contents Segment Full (billions 50.0 40.0 10.0 20.0 30.0 2.6 -10.0 10.0 FY2013/14 FY2012/13 3Q Net hedging Realized securities Equity Corporate Others Income 222 4Q 2.5 1 gain year 44.8 34.2 6.6 2-3.7 -27.5 in 1Q 3(loss) transactions of related gain “Other” 4Quarter earnings held items 2Q 5
Slide 27: Retail related data
Table of Contents FullExcluding (billions 3Q Commissions Fees Investment Net Non-interest Income Domestic Bond Stock Foreign Accumulated Other Sales base) Retail (1) 23 4Q interest revenue year from 189.1 credit of investment investment related foreign 1Q before investment JGBs of Quarter distributi
Slide 28: Retail related data: commissions
Table of Contents Retail Full (billions 180 90 120 0150 30 10 60 FY2013/14 FY2012/13 3Q Stock Commissions (1) 24020 Nomura 4Q 40 year brokerage related 1Qof Quarter 2Q yen) FY2014/15 FY2013/14 Securities. data for 3Q(billions commissions distribution (2) QoQ of yen) YoY of and 51.8 investment commis
Slide 29: Retail client assets
Table of Contents Retail (trillions Other 104.8 120 100 80 0F 20 Mar Equities Foreign Domestic Stock Bond Overseas Other2 Total Including 25 Y2012/13 91.7 Mar 83.8 investment 96.0 investment related client 2.7 currency 46.7 of 91.7 Dec mutual CBs annuity bonds bonds1 91.7 95.3 2.7 yen) FY2013/14 ass
Slide 30: Retail net inflows of cash and securities
Table of Contents Retail Net Full (billions 1,500 1,000 1,076 145 0500 -366 385 FY2013/14 FY2012/13 3Q 26-500 4Q inflows 177 0 year 1,000 500 related 1Qof Quarter 473 2Q yen) FY2014/15 FY2013/14 ofdata 3Q 485 cash (billions (4) and securities1 of yen)
Slide 31: Retail accounts and Nomura Home Trade
Table of Contents Retail Number FY2012/13 Accounts Equity Nomura Net Full FY2013/14 (Thousands) 3Q New IT No. Transaction (1) 27 share1 Percentage 4Q &of year Individual individual related Call orders holding 1Qof Home Quarter with 2Q accounts FY2013/14 FY2014/15 value Mar FY2012/13 55% data 3Q of b
Slide 32: Asset Management results and AuM
Table of Contents Asset Full FY2013/14 (billions 3Q Non-interest 2(1Income AuM (trillions 50.0 40.3 40.0 32.9 30.8 30.0 FY2012/13 0.0 10.0 20.0 Mar Total Net 28 gross) net)4Q revenue after year Mar 46.0 40.6 36.1 33.0 30.8 27.9 assets Management 1Q before of of deducting Dec Quarter 42.7 38.2 34.8 2
Slide 33: Asset Management related data
Table of Contents Asset (gross)1 Full (billions 12/13 1,099 of Investment -529 Net business Technologies Nomura Management Group Assets (trillions Mar Domestic Market Nomura’s (1) (gross). 29 which Total asset year Mar -520 Management inflows/outflows 1,598 13/14 company under 60.0 12.6 (3) Asset Fu
Slide 34: Wholesale revenue breakdown
Table of Contents Wholesale FY2012/13 Non-interest Income Breakdown Full FY2013/14 (billions 3Q Fixed Equities1 Global Other Net Investment (1) 30 Fixed 4Q revenue year 12.4 Income1 1Q Markets before of Quarter Income 172.8 2Q related 18.0 yen) Banking FY2013/14 FY2014/15 of 644.9 expenses 3Q Wholes
Slide 35: Wholesale private equity related data
Table of Contents Wholesale Private (billions 100 104.6 150 57.2 0F 50 Mar Japan Europe Asia Sub Terra Total 31 Y2012/13 Total Mar 57.2 2.0 104.6 61.2 Firma 52.7 equity (excluding 1.9 of Dec 58.8 76.5 related 8.1 yen) 57.2 FY2013/14 28.1 1.9 Mar related 58.6 10.5 32.6 1.9 61.2 24.6 data Jun Terra 58
Slide 36: Number of employees
Table of Contents Number FY2012/13 Mar Japan Europe Americas Asia-Pacific1 Total (1) 32 Includes Mar 27,956 (excluding (FA) 3,618 of Dec 2,271 employees 1,907 FY2013/14 Powai 27,670 3,461 Mar 6,037 2,281 FA) 1,888 Jun office 3,456 5,891 27,832 14,123 2,248 Sep FY2013/14 1,918 in 3,461 5,902 Dec 27,6
Slide 37: Disclaimer
Table of Contents Disclaimer Nothing securities or accurate All without This be nature, consider website events Forward-looking Thesales read rights information consolidated document and are in may (http://www.nomura.com) the in or all issued regarding the inherently investor this complete prior ofb
Slide 38: Nomura Holdings, Inc. www.nomura.com
Table of Contents Nomura Holdings, Inc. www.nomura.com