Nomura Holdings, Inc. · TSE:8604
Nomura — Investor Presentation (May 2006)
34 slides from Nomura's investor presentation, May 15, 2006
Slide 1: Investor Presentation
Investor Presentation 2006 5 15 5 15 Investor Presentation 5 15 14 CEO 0
Slide 2: 1
1
Slide 3: 10-15% ROE
sn STO fee 10-15% ROE
Slide 4: ROE 15.5%
350 25 304.3 300 20 250 15.5% 15 200 168.0 172.3 150 11.1% 119.9 10 10.1% 100 94.7 7.4% 5 50 5.2% 0 0 FY2002.3 FY2003.3 FY2004.3 FY2005.3 FY2006.3 2006 3 3,043 ROE 15.5% 5.2% 3
Slide 5: Earnings FY2002.3 to FY2006.3
600 452.0 500 400 300 225.5 187.6 200 100 78.5 89.2 0 -100 -200 FY2002.3 FY2003.3 FY2004.3 FY2005.3 FY2006.3 5 4
Slide 6: 4
4 5
Slide 7: CEO
CEO 32 11 5 CEO 6
Slide 8: 1
1 2 3 3 1 2 7
Slide 9: I II III IV
3 1 1 I 100 II III IV 100 4 8
Slide 10: I.
I. 100 100 80 60 40 20 2003.3 2003.3 2006.3 2006.3 2003.3 2006.3 2006.3 2003.3 0 A B C 2006.3 2005 12 2010 3 100 500 3 40 80 9
Slide 11: I. FA 3,000
I. 100 500 z 134 +50~100 378 378 z z 1,000 342 z SMA z FA3,000 z 2003.3 2006.3 2010.3 50 100 FA 3,000 1,000 10
Slide 12: II
II 10 10 180 600 160 5,700 5,700 500 140 1,200 1,200 120 400 75% 75% 100 300 80 60 200 40 100 20 0 0 2005/10/03 2006/5/2 2004/9/30 2005/6/30 2006/4/28 2 38 2% 11
Slide 13: III
STOTT I es ee ee ee ee a campo, ET
Slide 14: III
III 10 400 345.5 327.9 8 296.8 272.0 300 7.0 6 165.5 200 4 3.9 4.1 3.3 3.1 100 2 0 0 FY2002.3 FY2003.3 FY2004.3 FY2005.3 FY2006.3 13
Slide 15: IV M&A
IV M&A 2005 2005 2005 1 1 1 2 SMBC 2 SMBC 2 UBS 3 3 3 4 4 UFJ 4 5 5 5 6 UBS 6 6 KPMG 7 UFJ 7 7 SMBC 8 8 8 9 9 9 JP 10 10 10 Thomson Financial M&A 14
Slide 16: IV M&A
IV M&A M&A 15
Slide 17: IV 2,000
IV 4 2,000 16
Slide 18: IV
IV < [a4 2 z fe} Zz 17
Slide 19: I II US
3 2 2 I II US 18
Slide 20: 1
1 1 19
Slide 21: POSCO ICICI Bank LOTTE
ADR 2005 11 1 POSCO US$691mil 2005 12 ICICI Bank US$1.7bn LOTTE 2006 1 IPO US$3.5bn SHOPPING POSCO ICICI 8,000 20
Slide 22: Asian offices
Seoul Beijing Shanghai Hong Kong Taipei Hanoi Manila Bangkok Kuala Lumpur Singapore Jakarta 21
Slide 23: LBO
3 3 3 55 5 LBO 22
Slide 24: NOMURA
NOMURA 23
Slide 25: 15% ROE
10 15% ROE 33 15 –– 1 5% % 1 1 0 0 RO R OE E 2.0 10 15% ROE 3 24
Slide 26: FY2002.3 to FY2006.3
1,600 80% 1,400 70% 1,200 60% 1,000 50% 800 40% 600 30% 400 20% 200 10% 0 0% FY2002.3 FY2003.3 FY2004.3 FY2005.3 FY2006.3 1 15.0 15.0 15.0 20.0 48.0 - 293 36 - 493 20 48 493 25
Slide 27: DOE 3.0%
DOE 3.0 30 30% 1 DOE 3.0% ROE 2.5% 3.0% 30% 8 32 26
Slide 28: 27
27
Slide 29: 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 1 80 2 3
45,000 2 40,000 35,000 30,000 25,000 4 20,000 1 15,000 3 10,000 5,000 0 1 80 2 3 4 328 932 1,368 1,509 13.8% 23.2% 5.8% 11.4% 1.3% 1.7% 1.7% 2.2% 1.3% 4.1% 2.1% 3.4% 1980. 1989. 2003. 2005. 3 59.3% 3 44.0% 3 56.7% 12 51.9% 13.2% 27.6% 25.9% 17.9% 28
Slide 30: 1,509 38.5 11.4% 33.2% 2.2% 7.1% 3.4% 13.4% 12.8% 2005. 2005. 12 51.9% 12
1,509 38.5 11.4% 33.2% 2.2% 7.1% 3.4% 13.4% 12.8% 2005. 2005. 12 51.9% 12 30.6% 25.9% 29
Slide 31: 33 34 182 177 182 173 29 174 173 24 191 190 51 200
300 271 16 258 256 236 17 250 38 229 33 19 38 23 208 202 184 33 34 182 177 182 173 29 174 173 24 191 190 51 200 176 21 27 160 29 28 31 30 153 32 23 32 29 28 26 137 23 25 34 26 130 34 38 150 28 27 28 22 28 25 108 22 26 30 23 99 14 217 203 19 184 28 100 72 17 12 172 171 152 54 61 62 12 10 140 144 130
Slide 32: 100% 75% 50% 25% 0% 2003/3 2003/9 2004/3 2004/9 2005/3 2005/9 2006/3 31
100% 80 75% 60 50% 40 25% 20 0% 0 2003/3 2003/9 2004/3 2004/9 2005/3 2005/9 2006/3 31
Slide 33: ROE and D/E
ROE D/E 15 300 FY06(f) 10.0% 10 200 D/E D/E % % ROE ROE % % 5 100 FY05(e) 82% 0 0 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 FY e f 32
Slide 34: M&A market
2,500 16.0 M &A 14.0 2,000 M &A 12.0 10.0 1,500 8.0 1,000 6.0 4.0 500 2.0 0 0.0 1993 1995 1997 1999 2001 2003 2005 CY 33