Nomura Holdings, Inc. · TSE:8604
Nomura — Q1 FY2014/15 Earnings Presentation
38 slides from Nomura's earnings presentation, Aug 6, 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 August 2014 NOMURA HOLDINGS, INC. (Translation of regis
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), first quarter, year ended 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: August 6, 2014 By: /s/ Hajime Ikeda Hajime Ikeda Managing
Slide 4: Consolidated Results of Operations, First Quarter, Year Ending March 2015
Table of Contents Consolidated First (US Nomura July GAAP) 2014 quarter, Holdings, year Results ending Inc.of Operations March 2015
Slide 5: Presentation Outline
Table of Contents ExecutiveSupplement Presentation Outline Financial Consolidated summary balance(p. results: Income sheet 2) Overview (p.(loss) 16) Value before of results atincome risk(p. (p.3) taxes 17) Business Consolidated by segment segmentand financial results region(p. highlights (p.4)21) Re
Slide 6: Executive Summary
Table of Contents Executive Solid specific (FCR2 Y370.8bn (-5% (FY13/14 –Three Sales Net revenues (1) (2) within corporate (3) (4) (5) Income Group 86.9 113.2 51.7 72.9 The Asset Wholesale FY2013/14 45.6 62.1 71.4 84.4 Retail 113.0 21Q Group Income Net ROE4: EPS5: Retail Despite All Fortress Net Cal
Slide 7: Overview of Results
Table of Contents Overview (billions Highlights Non-interest Income Net EPS ROE (1) -69% -70% -54% +0.3% -14% YoY 11.3% Y17.24 65.9 113.2 318.1 431.3 -67% -68% -42% +6% -5% QoQ 9.8% Y16.02 61.3 88.6 301.4 389.9 4Q FY2013/14 3.2% Y5.26 19.9 51.7 319.2 370.8 1Q FY2014/15 3(2) Net Diluted revenue incom
Slide 8: Business Segment Results
Table of Contents Business revenue Wholesale Net before (loss) income Segment taxes Other Unrealized equity Income -40% +1% -5% +14% +9% QoQ 88.6 34.2 62.1 33.5 5.3 389.9 -7.7 80.8 316.8 198.5 20.5 97.9 4Q 51.7 2.6 45.6 5.7 8.3 31.6 370.8 3.5 48.3 319.1 188.9 23.3 106.9 FY2014/15 -93% -26% -83% +56%
Slide 9: Retail Segment
Table of Contents (billions QoQ 1Q Non-interest Retail -61% -12% -36% +36% +1% +9% (trillions 96.0 Jun FY2013/14 FY14/15 (1) (3) Key Income Net Client A N Recurring Investment Discretionary Other –IR *Figures (Y39.3bn) (Y660.4bn) (Y227bn) (Y57.6bn) (Y131.3bn) (Y13.4bn) (-Y365.8bn) (1.29m) (5.14m) (Y
Slide 10: Retail: Key Drivers
Table of Contents Retail: 0F 2,000 4,000 6,000 Higher Discretionary 63.0 4Q 3Q 2Q 100.0 (1) (2) Total –Stocks: specific Significant (billions 10.5 1Q FY2013/14 6(Month 12.1 89.5 64.5 2.9 93.1 Jun May Apr FY2014/15 24.5 34.1 36.5 Y2013/14 Investor Lower Efforts Robust Retail 2Q May 17.5 10.7 sales1 I
Slide 11: Asset Management
Table of Contents Asset (billions Non-interest QoQ FY14/15 Assets +24% +12% +16% +56% -1% +14% 4Q 3Q 2Q 1Q (trillions AuM 37.3 (1) Mar Dec Sep Jun FY2014/15 FY2013/14 (2) (3) within (4) Key Net Income -Strongest -ING -Strong Inflows Nomura Q1 Increased Y28.9bn Y38.5bn Y315bn Investment 7-Continued 8
Slide 12: Asset Management: Assets under Management
Table of Contents Asset Assets (trillions Nomura Jun FY2014/15 22.8% 22.9% 22.7% 22.5% 23.6% 16.0% 18.0% 20.0% 22.0% 24.0% 26.0% Investment 0-(billions 300 600 900 501 873 -900 -600 257 FY2013/14 -820 -23 1Q (1) (3) (4) Growth AuM Note: 2013/6 Research Topped –Awards 8Infrastructure 246 175 136 106
Slide 13: Wholesale
Table of Contents Wholesale QoQ FY14/15 Global 22.3 166.6 33.5 165.0 198.5 31.7 166.8 27.8 160.9 188.7 30.7 158.0 25.3 158.1 183.3 23.8 159.6 25.2 169.4 194.6 29.3 165.3 -0.1% +1% (billions 200.0 44.7 41.1 FY2013/14 58.8 24.5 54.1 45.9 88.7 1Q (1) within Key Net Income Regional Americas EMEA Japan 9
Slide 14: Wholesale: Global Markets
Table of Contents Wholesale: (billions 107.7 59.0 166.8 93.8 65.8 159.6 97.6 67.8 165.3 FY2013/14 +1% 1Q Key –Net FY2014/15 YoY Japan AEJ EMEA Americas Global QoQ Fixed 0% Americas: EMEA: AEJ: Japan: 10Resilient Continued Solid Revenues 2Q ~revenue: revenue points -0.1% Credit ±5% Income Increase 3Q
Slide 15: Wholesale: Investment Banking
Table of Contents Wholesale: 47.2 QoQ 19.0 11.7 30.7 23.3 23.8 25.6 3.7 29.3 YoY 22.3 1Q FY2014/15 FY2013/14 -0.4 22.8 Key Net Investment –financing (1) Playing Leveraged Mitsui PO Retail Softbank Yamada Euro-yen Joyo Euro-dollar Invesco ($308m) Tokyo USD FIG Financing Banco Tier Rabobank (€1.5bn) (
Slide 16: Non-interest Expenses
Table of Contents Full related processing floor (Reference) 01benefits 300 600 900 1,200 1,500 NREH (billions 318.1 Compensation Commissions Information Occupancy Business 1,195.5 202.8 38.5 80.1 192.2 111.8 570.1 FY2013/14 1,575.9 616.5 49.0 91.5 179.9 91.4 547.6 FY2012/13 Total Other 50.0 19.8 48.
Slide 17: Robust Financial Position
Table of Contents Robust Balance (As Shareholders’ Gross Liquidity Y5.6trn Y0.4trn 11.3x 17.8x Y2.5trn Y43.9trn RWA3 Total Mar (Basel Jun2 15.5% 17,426 2,716 402 2,314 15.3% 13.0% 17,485 2,676 396 2,280 Credit Preliminary. Tier Risk (trillions 13.2% 11.9% FY2014/15 3Fully Level 0.0% 5.0% 10.0% 15.0%
Slide 18: Funding and Liquidity
Table of Contents Highly structure marked-to-market trading repos currency) structural –Liquidity portfolio for over Balance Assets Cash Liabilities Trading and Other Total borrowings Unsecured More debt Short-term due debt, Long-term 17% 5.1 maturity Average retail MTN/Yen, subordinated) (incl. Loa
Slide 19: Financial Supplement
Table of Contents Financial Supplement
Slide 20: Consolidated Balance Sheets
Table of Contents Consolidated (billions Assets equity 2,699 18,714 17,347 2,571 2,189 Short-term Liabilities 411 -65 1,779 -1,355 127 -76 2,634 20,494 15,992 2,698 2,113 Trading Other Long-term Equity Noncontrolling Total Mar Jun 43,520 40 2,514 40,967 8,227 1,142 11,047 17,112 2,837 64602 -46 450
Slide 21: Value at Risk
Table of Contents Value-0.7 99% Definition 1-day Inter-product From Maximum: Minimum: Average: (billions Interest Equity Foreign Diversification Sub-total 10.0 2.0 FY2014/15 -0.7 8.6 -4.3 12.9 3.6 Dec 5.5 8.7 1.8 Sep 6.6 -3.2 9.9 5.4 2.6 Jun 5.2 -2.9 8.0 2.8 3.9 FY2013/14 5.1 -3.0 8.1 1.9 5.0 1.3 Ma
Slide 22: Consolidated Financial Highlights
Table of Contents Consolidated Full ROE(%) Income Net (“NHI”) ROE Basic-Net Diluted-Net shareholders Total (billions Quarter 3% 9% 55.81 57.57 213.6 361.6 1,557.1 618.27 28.37 29.04 4.9% 2,294.4 107.2 237.7 1,813.6 FY2012/13 FY2013/14 0% 2% 4% 6% 8% 10% 12% (1) 678.69 5.26 5.40 3.2% 2,467.7 19.9 51.
Slide 23: Consolidated Income Items
Table of Contents Consolidated Full (billions Quarter Fees Commissions Revenue Asset Gain Total Other Interest Non-interest Income Net 19 19.9 51.7 319.2 370.8 462.2 31.1 6.3 104.9 158.6 45.4 19.8 96.3 61.3 88.6 301.4 389.9 60.8 450.8 67.7 -5.2 100.3 -0.3 129.2 27.2 89.9 4Q 48.3 86.9 292.5 379.4 68.
Slide 24: Main Revenue Items: Fees and Commissions
Table of Contents Mainportfolio Fees investment and Full fees (billions Quarter Stock Commissions Equity Bond M&A Asset Other Administration Custodial 167.2 22.5 91.3 12.0 25.0 13.0 41.4 474.6 157.8 18.1 139.8 126.7 FY2013/14 141.0 17.1 18.6 105.3 62.4 7.7 25.6 7.8 21.1 359.1 32.6 150.1 11.7 112.9 5
Slide 25: Consolidated Business Segment Results
Table of Contents Consolidated Adjustment Asset Retail Three Wholesale Segments Other Unrealized securities 10.7 350.9 20.0 330.9 111.8 27.1 192.0 37.7 200.0 6.6 193.5 71.7 21.2 100.6 3.5 48.2 2.6 45.6 5.7 8.3 31.6 -7.7 96.2 34.2 62.1 33.5 5.3 23.3 80.7 -3.7 84.4 27.8 8.9 47.7 5.0 67.9 -3.5 71.4 25.
Slide 26: Segment Other
Table of Contents Segment Full -Quarter 20 02(billions -20 Net 40 hedging Realized securities Equity Corporate Income Others 20.0 8.4 -38.8 28.6 4.4 17.4 FY2013/14 6.6 -27.5 17.7 14.4 1.0 FY2012/13 22 2.6 -7.6 -3.1 3.5 2.9 6.9 34.2 22.8 -3.8 6.2 2.4 6.5 4Q -3.7 -4.4 -14.0 8.2 1.3 5.2 3Q -3.5 -2.0 -8
Slide 27: Retail Related Data
Table of Contents (billions Commissions Fees Investment Net Non-interest Income Domestic Bond Stock Foreign Accumulated Other Sales Retail base) Full 1,595.6 1,037.0 798.7 6,201.4 3,146.3 10,146.4 192.0 319.9 511.9 7.7 40.3 106.1 301.7 FY2013/14 1,485.8 1,909.5 851.4 5,457.0 2,719.2 9,027.6 100.6 29
Slide 28: Retail Related Data: Commissions
Table of Contents 1Q Retail Full Stock 7Commissions 90 120 150 180 05FY2012/13 10 20 30 40 50 60 (billions Quarter 161.4 126.7 161.5 FY2013/14 36.3 3Q 37.5 25.4 2Q 65.3 42.5 0 year 1.8 38.5 brokerage related of yen) FY2014/15 data forcommissions distribution (2) of and investment commissions trustsf
Slide 29: Retail Client Assets
Table of Contents Retail (trillions Foreign Equities Domestic Stock Bond Overseas Other 83.8 4.9 8.9 46.7 FY2012/13 Total (1) 95.3 9.6 55.6 FY2014/15 91.7 2.7 5.9 9.1 12.8 6.3 53.2 Mar 96.0 2.9 6.6 9.2 12.7 6.4 56.5 Dec 90.9 2.4 5.6 8.8 12.9 6.1 53.4 Sep 87.7 3.0 1.7 5.3 8.6 12.4 6.2 50.5 Jun 02FY20
Slide 30: Retail Net Inflows of Cash and Securities
Table of Contents Retail Net 1Full 1,500 FY2012/13 385 (billions 0-Quarter 500 1,000 473 805 1Q FY2014/15 FY2013/14 (1) 26 500 ,076 Cash 2Q inflows 145 year related 3Q -366 of and4Q yen) FY2013/14 ofsecurities 491 data 1Q cashFY2012/13 (4) andinflows securities1 FY2013/14 minus outflows, excluding r
Slide 31: Retail Accounts and Transactions
Table of Contents Retail Number Accounts Equity Nomura Net 4,053 2,721 5,186 3,939 2,674 5,104 Dec 3,881 2,722 5,090 Sep 3,822 2,727 5,069 Jun 4,012 2,718 5,144 3,747 2,717 5,025 Mar Full New (Thousands) IT No. Transaction 82 2Q 59% 101 Quarter 58% 364 FY2013/14 31% 55% 266 FY2012/13 (1) 36% 67 1Q F
Slide 32: Asset Management Related Data
Table of Contents Asset (billions Net Non-interest Income Total 23.7% 11.7% 15.7% YoY 55.6% -0.5% 14.0% QoQ 8.3 23.3 5.3 15.1 20.5 4Q 8.9 12.3 3Q 6.2 12.5 18.6 2Q 6.7 13.5 20.2 1Q 27.1 53.4 80.5 21.2 47.8 2(168.9 AuM (trillions Jun FY2014/15 FY2013/14 30.8 38.2 Mar FY2012/13 27.9 36.1 (1) 28 Capital
Slide 33: Assets under Management and Flows
Table of Contents 11.0 29.6 10.9 29.4 10.5 26.8 10.4 26.4 9.8 28.4 9.6 26.5 (gross) Technologies Nomura Group Asset 33.0 40.6 36.2 32.9 7.5 40.3 36.0 30.0 7.3 37.3 1.7 32.3 30.8 7.4 38.2 2.6 33.8 27.9 8.2 36.1 0.7 1.8 2.9 30.7 Full (billions of Investment Net business Assets 500 27 -23 473 FY2014/15
Slide 34: Wholesale Related Data
Table of Contents Wholesale Non-interest Income Breakdown -77.3% 8.1% -82.8% 11.0% 5.7 183.1 33.5 165.0 27.8 160.9 25.3 158.1 25.2 169.4 111.8 653.3 71.7 573.2 (billions Fixed Global Equities Other Net Investment -22.8% -0.1% 5.0% -3.0% QoQ 43.2 188.9 22.3 -0.4 22.8 166.6 62.0 104.5 FY2014/15 55.4 1
Slide 35: Wholesale: Merchant Banking Related Data
Table of Contents Wholesale Private (billions Firma) 150 Europe Japan Sub Asia Terra 104.6 28.1 76.5 2.0 52.7 FY2012/13 Total 31 58.8 24.2 34.5 21.8 10.8 FY2014/15 57.2 24.6 32.6 22.6 8.1 Mar 61.2 24.9 36.3 23.9 10.5 Dec 102.1 25.8 76.4 1.8 51.7 Sep 107.0 29.6 77.4 1.9 22.9 52.5 Jun FY2013/14 100 To
Slide 36: Number of Employees
Table of Contents Number Japan Asia-Pacific1, Americas Europe (1) 28,920 6,656 2,335 3,481 1,889 14,559 FY2014/15 27,832 5,902 2,248 3,456 1,918 14,308 Dec 28,024 5,945 2,243 3,459 1,923 14,454 Sep 28,251 5,961 2,240 3,485 1,911 14,654 Jun 27,670 5,891 2,281 3,461 1,888 14,149 FY2013/14 27,956 6,037
Slide 37: Disclaimer
Table of Contents Disclaimer Nothing securities or accepted All without This be nature, consider website events Forward-looking The Cautionary R&I Furthermore, guaranteed. Ordinance other Trusts/Aggregate sales read rights information consolidated document Fund related and are in may (http://www.nom
Slide 38: Nomura Holdings, Inc.
Table of Contents Nomura Holdings, Inc. www.nomura.com