Nomura Holdings, Inc. · TSE:8604

Nomura — Q2 FY2004 Earnings Presentation

34 slides from Nomura's earnings presentation, Jul 20, 2004

1. Slide 1: Financial results (US GAAP)

   2004 3 2 (US GAAP) 2003 10 1

2. Slide 2: „ 2004.3 „ ¾ ¾ ¾ ¾ ¾ „ 2004 2003 2004 2003 2

   „ 2004.3 „ ¾ ¾ ¾ ¾ ¾ „ 2004 3 2003 10 30 2 2004 3 2003 10 30 2

3. Slide 3: Results highlights

   2004 3 2003.4 2003.9 ¾ ( ) 4,148 46% * ¾ 2,555 5% * ¾ 1,593 292% * 2004 3 ¾ 867 308% * ¾ 867 34% * ¾ 27 2,389 6 694 ** ¾ 1 7,055 632 ** ¾ 16.0 12.9 ¾ROE 10.4% ¾ ( ) 2,147 53% * ¾ 1,267 7% * 2004 3 ¾ 880 295% * 2 ¾ 476 260% * ¾ROE 11.2% * ** 3 3 4,148 2,555 46% 5% 1,593 292% 867 308% 6 694 27 2,389 1

4. Slide 4: Contents

   „ P5 „ P6 ~ 8 „ P9 ~ 12 „ P13 ~ 14 „ P15 ~ 16 4

5. Slide 5: Consolidated results

   FY03.3 Full FY04.3 FY03.3 FY04.3 FY03.3 FY03.3 FY04.3 FY03.3 FY03.3 FY04.3 FY03.3 5 1H 1H (1/2) 1H 1H (1/2) 1H 1H (1/2) 5 1 2 157% 394 110% 954 28 24 3 1,324 109% 1,299 2 5

6. Slide 6: Segment results

   1 „ 405 58% 9 * 262 157% 80 75.6 ¾ 9.1 111% 33% ¾ 9 132.3 53% 70 ¾ IT 62.3 60 56.7 46% FY03.3 Q2 38% 21% FY03.3 Q2 14% 50 9 ** 101 50% ¾ 49 181% 40 ¾ 25 214% 9 30 ¾ 9 2,168 6 19% 20 9 10 4 3,508 9,429 37% 0 FY03.3 2Q FY04.3 2Q FY03.3 (1/4) Total 56.7 75.6 62.3 „ 217 22% 0.8 1.2 0.6 17.8 21.7 23.9 „

7. Slide 7: 4,051 45% 31%

   2 7 7 2 4,051 10 45% 31% 7

8. Slide 8: Retail segment

   3 * ** 35 31.3 28.9 29.3 0.3 0.1 28.2 29.3 30 0.0 27.6 1.2 0.8 0.8 0.2 0.2 0.2 27.1 1.1 0.9 0.9 0.2 5.6 1.0 25 7.9 5.7 8.4 6.7 6.3 5.9 2.4 2.2 20 2.4 2.2 2.1 2.0 2.4 15 12.8 11.1 11.4 10.6 9.9 9.5 11.1 10 5.0 5.1 5.3 4.9 5.0 5 4.2 4.7 3.2 3.4 3.9 3.7 2.5 2.6 2.8 0 Mar. 02 Jun. 02 Sep. 02 Dec. 02 Mar

9. Slide 9: FY03.3 2Q FY04.3 2Q FY03.3 (1/4)

   1 „ 9 772 60 9 594 9 455 50 48.1 „ 40 38.5 9 30 32.5 9 10 30 „ 20 9 270 9 570 10 0 FY03.3 2Q FY04.3 2Q FY03.3 (1/4) 9 9 48% 481 9

10. Slide 10: FY02.3 1Q 2Q

    2 „ 9 „ 9 „ 35 31.9 30.9 30 28.8 25 23.0 21.6 20 19.0 14.7 15 10.2 9.5 10 8.5 5 0 FY02.3 FY03.3 FY04.3 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 10 10 215% 390 309 10

11. Slide 11: Investment banking

    3 „IPO PO* 9 IPO 3,135 152% 419 332% 25 9 PO 2,661 12% 2,178 99% 20.6 20 : 134 NRI 472 447 557 17.3 16.5 9 CB CSK 230 15 „ 9 517 10 9 570 „M&A, 5 9 9 KS Biomedix = Xenova Group plc 9 0 FY03.3 2Q FY04.3 2Q FY03.3 (1/4) M&A ** 9 :9 : 80 9 : 66 : 10% 7 -9 11 11 IB NRI, J-REIT 25% 206 KS Biomedix Xenova

12. Slide 12: NPF 281.8 284.9 291.0 291.4 0

    4 „ 9 8 7.3 7 6 5 4 „ 3 NPF 2 1 300 281.8 284.9 291.0 291.4 0 14.3 14.3 16.1 19.2 -1 250 -2 -3 -1.7 200 -4 -5 150 -6 265.7 265.7 276.7 277.1 -7 -6.0 -8 100 FY03.3 2Q FY04.3 2Q FY03.3 (1/4) 50 0 FY02.3 FY03.3 FY04.3 1Q FY04.3 2Q 12 12 MB 73 12

13. Slide 13: ABS

    1 „ 9 9 12 „ 9 10.3 10 9.3 „ 8.0 8 200 180 6 166.5 160 140 120 4 106.9 100 98.1 80 60 2 40 51.5 20 0 0 Mar.02 Jun.02 Sep.02 Dec.02 Mar.03 Jun.03 Sep.03 FY03.3 2Q FY04.3 2Q FY03.3 (1/4) * ABS 13 13 1 22% 80 397 280 13

14. Slide 14: NAM NAM

    2 NAM NAM 25 20 18.2 45% 0.2 41% 17.1 40% 39% 40% 40% 40% 39% 0.2 15.6 40% 4.5 15.1 15.4 0.2 14.5 15 0.2 14.2 0.3 4.1 35% 0.2 0.3 3.9 3.8 3.8 30% 33% 33% 3.6 3.7 31% 31% 30% 30% 30% 25% 10 10.4 9.2 20% 23% 7.0 21% 8.3 7.8 21% 20% 7.3 7.0 20% 19% 15% 19% 5 10% 4.3 5% 3.2 3.6 3.3 3.3 3.2 3.5 0 0% Mar.

15. Slide 15: FY03.3 2Q FY04.3 2Q FY03.3 (1/4)

    1 „ 150 9 126.7 129.7 120 118.5 „ 90 „ 60 „ 30 „ 0 FY03.3 2Q FY04.3 2Q FY03.3 (1/4) 9 Total 118.5 126.7 129.7 ( 1.1 0.2 6.4 12.6 15.8 17.3 7.8 5.4 6.1 14.5 13.5 14.3 19.2 19.5 19.3 5.6 4.6 5.2 57.7 67.7 61.0 15 15 1 1,267 7% 2 17% 30% 15

16. Slide 16: NAM

    2 „ 9 9 * 50 40.4 36.7 40 36.6 34.2 35.3 36.6 35.0 34.3 36.1 36.0 30 32.5 28.8 29.3 29.1 27.0 24.5 20 23.2 22.4 10 0 FY00.3 FY01.3 FY02.3 FY03.3 FY03.3 FY03.3 FY03.3 FY04.3 FY04.3 (1/4) (1/4) (1/4) 1Q 2Q 3Q 4Q 1Q 2Q * PFG (2002.3 704 ) 2002.3 2004 3 2 189 28 16 16 2 2% NAM 29% 16

17. Slide 17: Appendix contents

    • P18 • P19 • P20 • / P21 • P22 ~ 25 • P26 • P27 • P28 • P29 • P30 • NCRAM P31 • P32 • P33 17

18. Slide 18: 18

    18 18

19. Slide 19: 19

    19 19

20. Slide 20: Quarterly income data

    FY02.3 FY03.3 FY04.3 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 1.1 0.5 0.9 0.6 0.6 0.8 0.7 0.2 1.2 1.2 13.1 12.3 18.8 17.3 20.5 17.8 32.2 25.2 40.4 21.7 14.9 13.2 12.6 12.4 12.3 7.7 6.9 5.2 4.8 5.4 2.9 5.3 2.7 3.1 1.8 4.8 3.7 4.8 2.9 6.7 30.1 20.0 23.1 24.3 31.9 25.7 26.8 19.8 25.7 40.5 20.5 12.9 14.4 13.9 16.8

21. Slide 21: Segment data (FY04.3)

    / (FY04.3 6 ) 21 21

22. Slide 22: Total FY02.3 1Q

    1 60 56.0 50 46.1 39.6 40 34.6 34.8 34.7 34.3 33.8 31.0 30 26.6 20 10 0 FY02.3 FY02.3 FY02.3 FY02.3 FY03.3 FY03.3 FY03.3 FY03.3 FY04.3 FY04.3 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q Total 39.6 31.0 34.6 34.8 46.1 34.7 34.3 26.6 33.8 56.0 2.4 5.8 3.2 4.4 5.7 9.8 5.3 5.2 4.5 5.6 7.8 4.7 6.5 7.7 11.8 6.2 6.4 6.1

23. Slide 23: Total FY02.3 1Q

    2 35 31.0 30 25 22.9 19.6 19.9 20 18.6 18.3 16.9 15.6 14.1 14.5 15 10 5 0 FY02.3 FY02.3 FY02.3 FY02.3 FY03.3 FY03.3 FY03.3 FY03.3 FY04.3 FY04.3 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q Total 14.1 22.9 19.6 18.6 15.6 18.3 16.9 31.0 14.5 19.9 0.4 0.3 0.1 0.5 0.3 1.0 0.6 1.4 0.2 -0.1 4.4 2.8 2.4 3.9 2.6 4.6 3.6 6

24. Slide 24: Total FY02.3 1Q

    3 35 29.6 30 27.8 26.9 25.7 24.2 25 21.9 20 17.5 17.0 15.7 15 13.7 10 5 0 FY02.3 FY02.3 FY02.3 FY02.3 FY03.3 FY03.3 FY03.3 FY03.3 FY04.3 FY04.3 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q Total 29.6 27.8 25.7 26.9 24.2 21.9 17.5 15.7 13.7 17.0 2.5 2.6 2.3 2.5 2.4 2.3 2.3 2.2 2.4 2.6 27.1 25.2 23.4 24.4 21.8 19.6

25. Slide 25: * PFG PFG PFG

    4 * 175 169.3 150 125 113.9 99.5 100 88.7 80.3 81.5 66.6 75 69.1 56.8 23.7 50 25 0 -25 FY02.3 FY02.3 FY02.3 FY02.3 FY03.3 FY03.3 FY03.3 FY03.3 FY04.3 FY04.3 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q Total 88.7 23.7 69.1 169.3 56.8 66.6 81.5 80.3 113.9 99.5 15.9 13.6 21.3 21.4 16.8 43.3 35.2 32.0 34.1 25.1 27.8

26. Slide 26: Total *PFG FY02.3

    * 250 239.4 200 185.1 162.9 150 124.3 128.8 126.7 121.8 117.7 118.5 113.2 100 50 0 FY02.3 FY02.3 FY02.3 FY02.3 FY03.3 FY03.3 FY03.3 FY03.3 FY04.3 FY04.3 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q Total 121.8 239.4 117.7 185.1 124.3 118.5 113.2 162.9 128.8 126.7 ( 0.4 93.4 0.2 0.8 0.5 1.1 0.5 23.6 2.1 0.2 14.7 21

27. Slide 27: 27

    27 27

28. Slide 28: 28

    28 28

29. Slide 29: 29

    29 29

30. Slide 30: * ** ** *** ***

    * ** ** *** *** 30 30

31. Slide 31: NCRAM

    NCRAM 10 31 31

32. Slide 32: VaR

    „ VaR VaR 10 ¾ 2.33 99% 02.4.1 03.9.30 5.6 ¾ 1 1.7 ¾ 2.92 ( 10 ) Sep.01 Dec.01 Mar.02 Jun.02 Sep.02 Dec.02 Mar.03 Jun.03 Sep.03 2.0 2.8 2.0 1.8 1.3 1.3 1.5 2.1 2.3 1.7 2.9 2.3 1.7 1.8 1.9 2.3 2.5 2.4 0.3 0.2 0.2 0.4 0.4 0.3 0.2 0.3 0.3 4.0 6.0 4.5 3.8 3.5 3.5 4.0 4.9 4.9 (1.2) (1.9) (1.2) (1.2) (1.2

33. Slide 33: NPF

    *NPF 33 33

34. Slide 34: Nomura Holdings, Inc.

    Nomura Holdings, Inc. www.nomura.com/jp/ 34 34

Nomura Holdings — Q2 FY2004 Earnings Presentation on 6ix