Nomura Holdings, Inc. · TSE:8604
Nomura — FY2013/14 Earnings Presentation
39 slides from Nomura's earnings presentation, May 8, 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 May 2014 NOMURA HOLDINGS, INC. (Translation of registra
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), fourth quarter, year ended 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: May 8, 2014 By: /s/ Hajime Ikeda Hajime Ikeda Managing Di
Slide 4: Consolidated Results of Operations (US GAAP), Fourth quarter, year ended March 2014
Table of Contents Consolidated Fourth (US Nomura April © Nomura GAAP) 2014 quarter, Holdings, Results yearInc. ended of Operations March 2014
Slide 5: Presentation Outline
Table of Contents Presentation Outline Executive Overview Business Retail Non-interest Robust Funding Asset Wholesale Number Management (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 Executive second *Due reported remained effects –Shareholder efficiency, Of Total Income (billions gain Unrealized investments 361.6 equity for Group-wide purposes 237.7 112 Wholesale +52% 27 total 192 21 +71% 72 330.9 Management FY2012/13 101 193.5 Full (1) (3) (2) 2(4) Asset Whol
Slide 7: Executive summary
Table of Contents Executive 4Q Group gain Slower uncertainty Core –included Revenues offset Global franchise Other Booked Group-wide One-off Y50.1bn secondary of Estate shares 19.7 35.4 Three Asset Wholesale Retail 71.9 84.4 9.0 62.1 FY2012/13 1Q Income (1) used financial (2) 3Holdings Asset Wholesa
Slide 8: Overview of financial results
Table of Contents Overview (billions Highlights FY2013/14 QoQ 4Q Non-interest Income Net EPS3 ROE4 (1) (2) (3) (4) 4(5) As Net Full revenue income1, YoY Y16.02 a9.8% income before year result ofof 5FY2012/13 Diluted yen, FY2013/14 YoY 8.9% 389.9 expenses results 2+27% of income attributable 61.3 exc
Slide 9: Business segment results
Table of Contents 2) (1) Business FY2013/14 QoQ revenue Wholesale Net before (loss) income Segment taxes Other Unrealized equity Income 4Q Includes Full additional Retail revenue YoY 1), Asset securities Wholesale Retail before FY2012/13 year Asset total segment 2)197.9 198.5 gain FY2013/14 YoY 80.8
Slide 10: Retail: key results
Table of Contents (billions FY12/ 13 Non-interest Retail taxes (trillions 90.9 83.8 FY2012/13 Mar Key Full Stock Pretax since 4Q Net Income Slower uncertainty Made recurring Client growth Recurring Investment Discretionary –Other (1) (2) (3)Accounts Slowdown Higher NISA Net IPOs Retail Insurance 6(4
Slide 11: Retail: revenue and client assets
Table of Contents Retail: 1,000 2,000 3,000 4,000 5,000 6,000 7,000 Net Recurring (annualized, adjusted 49.8 1,500 38 -750 -750 FY2012/13 4Q Total Stocks: Investment –Bonds: Increasing discretionary (billions Discretionary 300 200 0F 9.1 52.6 100 133.5 Quarterly average 38 Y2012/13 Down Revenues Mar
Slide 12: Asset Management: key results
Table of Contents related Asset (billions FY12/ 13 Non-interest Assets taxes (trillions 36.1 40.3 27.9 32.9 FY12/13 Mar Key Full 4Q Net Income -despite Inflows Y39.5bn Increased Y36.6bn mainly Improved –market Investment Fund AuM (1) (3)Highest Revenues Pretax Total Europe Nomura Newly 14 results re
Slide 13: Asset Management: assets under management and initiatives
Table of Contents Asset Assets (trillions 50 40 40.3 30 10 20 F Investment (billions 600 900 873 138 0-300 -900 -600 4Q Nomura 22.3% 23.6% 26.0% share2 FY2012/13 14.0% 18.0% 22.0% Competitive Distribution funds AuM Mar Japan US Strengthening Completed (1) 9assets 300 Y2012/13 (4) Investment 36.1 9.6
Slide 14: Wholesale: key results
Table of Contents Wholesale FY12/ 13 Global Investment Non-interest taxes (billions 50.5 200.0 41.2 150.0 100.0 24.5 50.0 58.8 FY2012/13 0.0 Key Full 4Q Net Income Regional Americas EMEA Japan –AEJ (1) (2) 10 Holdings). All Successful Net Best Significant Slower Global QoQ 14 Since Booked 1Q results
Slide 15: Wholesale: Global Markets
Table of Contents Wholesale: (billions Fixed Equities 173.1 159.6 59.9 67.8 113.2 FY2012/13 FY2013/14 YoY Markets 0% Japan AEJ EMEA Americas Key 4Q Global –Net (1) Americas: increased 11Maintained Continued Revenues Cash Fixed 1Q results ~revenue: revenue1 points 59.0 65.8 QoQ ±5% 97.6 165.3 158.0 I
Slide 16: Wholesale: Investment Banking
Table of Contents Wholesale: 44.1 Other 29.3 23.8 0.4 +55% 25.6 23.4 FY2012/13 Key 4Q Net ECM Revenues Full Growing Investment (M&A 184.3 Involved +29% Retirement Tailoring Bookrunner Japan –International 12Toppan Investment Japan International Grifols’ KfW BPCE Suntory Mitsubishi Commitment-type 1Q
Slide 17: Non-interest expenses
Table of Contents (billions 1,500 483.9 expenses 1,200 depreciation 900 and 600 brokerage (Reference) benefits Excluding FY2012 /13 Compensation Commissions Information Occupancy communications Business Other Total Key Full 4Q –Non-interest 13Group-wide Excluding Other Compensation 1Q results /14 co
Slide 18: Robust balance sheet
Table of Contents Robust Balance (As Shareholders’ Gross Liquidity (Basel RWA3 Tier Total Risk (trillions 20.0 15.0 13.3% 10.0 5.0 0.0 applied balance Level (estimate) (billions 1,000 Net 25% 500 019% FY2012/13 Mar 0%5.0% Fully leverage1 Level of 17% 2Jun 120.0% 11.9% 10.0% 23% weighted assets capit
Slide 19: Funding and liquidity
Table of Contents Funding Highly –83% –Other Liquidity –Y6.1trn, –Maintain Balance (As Assets More long-term Diversified Trading and due 14% subordinated) Long-term market debt, Average Short-term Cash 76% borrowings Other Total bonds, Breakdown short-term/long- term (1) related1 within ofdebt 24% 6
Slide 20: Financial Supplement
Table of Contents Financial Supplement
Slide 21: Consolidated balance sheets
Table of Contents Consolidated (billions Mar 2013 Assets Trading Long-term private Noncontrolling Total 17 1. 31, 2014 cash payables loans collateralized trading other NHI assets Liabilities equity liabilities Mar ofand Including shareholders’ (Decrease) borrowings assets and yen) 37,942 31, assets1
Slide 22: Value at risk
Table of Contents ValueMar Definition 99% 1-day Inter-product (billions Mar Equity Interest Foreign Sub-total Diversification VaR 18 5.1 confidence time at1.3 rate exchange 5.2 risk of Mar 8.1 From 1.3 horizon yen) 5.1 5.0 8.0 price Jun 1.3 benefit 6.6 3.9 FY2012/13 level April 8.1 1.9 Sep 2.6 fluct
Slide 23: Consolidated financial highlights
Table of Contents Consolidated Full (billions 250 213.6 150 100 48.3 50 04.9% FY2012/13 4Q Income Net Inc. ROE Basic-Net Diluted-Net shareholders Total (1) (yen) 190%3% Quarterly 1Q revenue income 12% 65.9 38.1 (“NHI”) year (%) (%)1 NHI 61.3 0 30 2Q 0% before of Quarter 120 107.2 3% income sharehold
Slide 24: Consolidated income and expenses
Table of Contents Consolidated Full (billions FY2012/13 4Q Commissions Revenue Fees Asset Gain Other Total Interest Non-interest Income Net 20 1Q gain revenue income year from on revenue management 708.8 2Q and expense before private investments of on Quarter investment 3Q yen) FY2013/14 attributabl
Slide 25: Main revenue items
Table of Contents Main Full (billions 4Q Stock Commissions Equity Bond Fees investment Other Asset and fees Total 21 1Q portfolio Custodial year from 359.1 62.4 141.0 revenue underwriting management brokerage 32.6 7.7 underwriting 2Qof Quarter 12.0 M&A 91.3 3Q 32.1 trusts banking yen) 474.6 167.2 se
Slide 26: Consolidated segment results
Table of Contents Consolidated Adjustment Retail Asset Wholesale Three Other Segments Unrealized securities (billions FY2012/13 4Q Americas Europe Asia Subtotal Japan Income 1Qand Management 6.6 317.2 Business 100.6 2Q -93.1 before (loss) -79.4 of Oceania held 20.0 25.7 total 3Q 71.7 gain yen) FY201
Slide 27: Segment 'Other' results
Table of Contents Segment Full (billions 60 40 50.1 20 020.0 6.6 -3.5 -20 -7.0 FY2012/13 4Q Net hedging Realized securities Equity Corporate Others Income 23020 60 34.2 1Q -20 gain -3.7 year -27.5 in 2Q (loss) (Loss) 40 transactions of (loss) gain(loss) “Other” Quarter earnings held items 3Q yen) FY
Slide 28: Retail related data
Table of Contents Full1Q (billions 4Q Commissions Fees Investment Net Non-interest Income Domestic Bond Stock Foreign Accumulated Other Sales (transaction Retail (1) 24 interest revenue year from Excluding credit of investment investment related foreign 2Q before investment JGBs of Quarter distribut
Slide 29: Retail related data: commissions
Table of Contents Retail Full (billions 180 150 20 60 30 90 40 120 050 FY2012/13 4Q Stock Commissions trusts1 (1) 25010 1Q 70 60 year Nomura brokerage related 161.5 2Qof Quarter 3Q yen) FY2013/14 161.4 data for Securities. 4Q(billions commissions distribution (2) 55.7QoQ 65.3 of yen) YoY 37.5 of and
Slide 30: Retail client assets
Table of Contents Retail Other (trillions 100 83.8 0F 20 40 60 80 Mar Equities Foreign Domestic Stock Bond Overseas Other2 Total (1) Y2012/13 26 91.7 Mar 83.8 Including 83.8 investment investment related client 2.7 currency 46.7 of 90.9 Mar mutual 87.7 bonds 91.7 2.7 yen) FY2013/14 assets 53.2 data
Slide 31: Retail net asset inflow
Table of Contents Retail Full (billions 872 1,000 1,035 600 900 1,200 1,225 -2,000 038 -300 FY2012/13 4Q (1) 38 27-503 1Q 188 year Excluding related client -600 2Q300 of Quarter 3Q yen) FY2013/14 assets: data 4Qregional (billions (4) Net asset financial of yen) inflow1 institutions.
Slide 32: Retail related data: accounts
Table of Contents Retail Number Mar Accounts Equity Nomura Net Full (Thousands) 4Q New IT No. Transaction (1) 28 share1 1Q & of year Mar Individual individual Percentage related Call orders holding 2Qof Home Mar Quarter with 3Q accounts value FY2012/13 55% data Jun 4Q balance Trade accounts accounts
Slide 33: Asset Management results
Table of Contents Asset (billions Net Non-interest Income Total (trillions 40.0 40.3 30.8 32.9 30.0 FY2012/13 0.0 10.0 20.0 Mar AuM revenue Mar 36.1 29.1 27.9 assets (gross) (net)2 Management before of of Mar 38.2 30.0 27.9 yen) yen) FY2013/14 under 68.9 expenses 1Jun 36.1 30.8 income 4Q 80.5 Sep ma
Slide 34: Asset Management related data
Table of Contents FY12 Full FY12/13 (billions 4Q of Investment Net business /13 Technologies Asset (gross)1 Group Assets Nomura (trillions Mar Domestic investment Market Nomura’s (%) which, 1Q /14 asset year Mar inflows/outflows Management FY13 company under 2Q FY12/13 60.0 12.6 Asset Funds Corporat
Slide 35: Wholesale related data
Table of Contents Wholesale Non-interest Income Breakdown (billions FY2012/13 4Q Fixed Equities Global Other Net Investment (1) 31 1Q revenue Fixed 12.4 Income 2Q Markets before 172.8 of3Q related 18.0 yen) Banking(Net) Banking Banking(Gross) Income FY2013/14 of 644.9 expenses 387.7 4Q Wholesale 251
Slide 36: Wholesale private equity related data
Table of Contents Wholesale Private (billions 104.6 150 57.2 100 0F 50 Mar Japan Europe Asia Sub Terra Total 32 Y2012/13 Total Mar 61.2 2.0 104.6 Firma 104.6 52.7 equity (excluding 1.9 of Mar 57.2 76.5 related 8.1 yen) 57.2 FY2013/14 28.1 107.0 2.0 Jun related 52.7 32.6 1.9 104.6 24.6 Sep data 102.1
Slide 37: Number of employees
Table of Contents Number FY2012/13 Mar Japan Europe Americas Asia-Pacific1 Total (1) 33 Mar Includes 27,956 (excluding (FA) 3,618 of Mar 2,271 employees 1,907 FY2013/14 27,670 3,461 6,037 Jun Powai 2,281 FA) 1,888 Sep 3,618 5,891 27,956 office 14,123 2,271 Dec FY2012/13 1,907 3,485 6,037 Mar in 28,2
Slide 38: Disclaimer
Table of Contents Disclaimer Nothing securities or accepted 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 all by issued regarding the inherently investor this prior of Nomura be
Slide 39: Nomura Holdings, Inc.
Table of Contents Nomura Holdings, Inc. www.nomura.com