Nomura Holdings, Inc. · TSE:8604
Nomura — Q1 FY2009.3 Earnings Presentation
39 slides from Nomura's earnings presentation, Jul 31, 2008
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 Supplement for the month of July 2008. NOMURA HOLDINGS, INC. (Translatio
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 ending March 2009
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: July 31, 2008 By: /s/ Toshio Hirota Toshio Hirota Executi
Slide 4: Consolidated Results of Operations (US GAAP), First Quarter FY2009.3
Table of Contents Consolidated (US First Nomura July GAAP) 2008 quarter, Holdings, year Results ending Inc.of Operations March 2009
Slide 5: Important Notice
Table of Contents 1. The 2. securities practices 3. 4. accepted 5. must their actual security 6. This Nothing No nature, be part results information consolidated document read valuations, by of issued of inthe Nomura are in this to this jurisdictions the differ inherently by document is contains doc
Slide 6: Presentation Outline
Table of Contents Presentation Outline Monoline First Segment Non-interest Financial (P16) Domestic Global Asset Dividend Value Number Market Consolidated Adjustment Results: Main Quarter Revenue Management atMerchant Markets Investment Share Income Risk of “Other” Supplement Policy Retail Insurers-
Slide 7: First Quarter Key Points
Table of Contents Firstrevenue: FY2009.3 Net Limiting Mostly Provisions Domestic Impairment Strengthening RaisedQuarter subordinated finished downside private First now due 135.1 Results Capital Quarter cover dealing toequity decline risks billion debt Key 85% Structure Revenue with investee to Poin
Slide 8: First Quarter Business Topics
Table of Contents Firstasset Robust Domestic Net Investment Nomura Wholesale Won Invested *Thomson Quarter mandate Retail New in inflow Client Business Reuters Ashikaga trust Business Global Business onsales Assets of major 1.066 Backed High Holdings strong Topics in up cross-border trillion Japan 3
Slide 9: Consolidated Financial Highlights
Table of Contents Consolidated Full (billions 15.5% 0304.3 -3.3% FY2004.3 Income 787.3 1,091.1 1,145.7 799.2 803.1 282.7 Net -64.6 172.3 Total 1,785.7 Basic 88.82 Shareholers’ *919.67 Quarter 100 -50 344.8 13.6% 1,019.19 0%-76.6 Quaterly revenue income 5% 20% Year shareholders’ -67.8 net 10.1% 5.2%
Slide 10: Monoline Insurers-Related Exposure
Table of Contents Credit 2008/6/30(millions $3,105 Others Monoline 2008/3/31 *$6,433 BasedDerivative (2) $314 $1,112 onInsurers Insurers-related (Provisions S&P $140 $201 orTransactions $174 by Moody’s of $911 Credit US$) completed) $157 $593 Exposure Monoline Rating* depending with$3,323 Monoline (
Slide 11: Consolidated Balance Sheet
Table of Contents Borrowed Well Consolidated Increase Mar. Cash 1,434 Short-term 1,426 Payables 1,329 Loans 1,872 10,541 5,154 Collateralized 10,391 636 Long-term 5,224 Trading 10,657 24,311 Other 1,945 Shareholders’ 1,988 Total 26,299 *including 443 31, placed and assets liabilities 1,578 1,450 1,3
Slide 12: Segment Results Highlights
Table of Contents First Net 400 23.1 FY2008.3 20.7 •Reference: Asset Other Asset Adjustment Global Segment Revenue 347.4 29.0 51.5 Quarter Management Management: Markets: Investment Merchant 100 26.0 10.1 FY2009.3 “Other”: Domestic Business (billions of 14.8 -27.2 10.1 Consolidated P23 Banking: 11.0
Slide 13: Domestic Retail Highlights
Table of Contents 1502Q 121.8 1Q Full (billions 500 FY2004.3 Business customer Newly Nomura Existing Toyota (AUD Quarter Reorganized New Net Reference: Retail Domestic Number asset Revenue Net 446.5 Year branch Income stock eurobond) Launched 3Q Motor Highlights revenue Japan of Investment Performan
Slide 14: Global Markets Highlights
Table of Contents Global before 284.1290.0 Net FY2008.3 FY2007.3 FY2006.3 FY2005.3 FY2004.3 Trading •Business: Value Netrevenue Securitization Market Revenue Income Markets atinShare Approx. Risk: domestic 300 Income Taxes and Data: Product P30 Quarter 243.1 181 Income equity before (billions P32 15
Slide 15: Global Investment Banking Highlights
Table of Contents Global Investment Banking Quarter Net Revenue and Income (Loss) before Income Taxes (billions of yen) 40 60Year Full 36.7Net 29.0 Revenue 20.7 20.8 and20Income 10.8 5.7 (Loss) 0.2 0before -3.9 -20 Income FY2008.3 Taxes1Q (billions 2Q 3Qof 1Q 14.8 4Qyen) 12.6 99.7 99.2 120 83.1 80 7
Slide 16: Merchant Banking Highlights
Table of Contents Global 60 -40 Full 80 Net Partners 43.4 68.2 FY2008.3 revenue Year Merchant 40 65.0 invested Net 40.1 Income 64.8 Revenue FY2009.3 23.1 Banking 61.45 60 before 20.1 55.4 and billion 1Q 20 52.8 Quarter Income income 2Q 8.5 yen 53.3 3Q 5.4 Net in (Loss) taxes 40 4Q 0Ashikaga -Revenue
Slide 17: Asset Management Highlights
Table of Contents Asset 2.5 7.6 10 8.6 7.7 12.2 17.3 21.8 23.2 23.7 26.4 30 Full 4Q 3Q 2Q 1Q FY2009.3 (billions 0F 0.5 10.0 20 20.6 31.0 40 36.5 40.3 49.0 60 65.8 80 90.6 90.1 100 FY2008.3 FY2007.3 FY2006.3 FY2005.3 Income Business Net Robust Nomura Quarter With Revenue Reference: Assets Investment
Slide 18: Other Segment Results
Table of Contents Segment Net Full (billions FY2004.3 affiliates Quarter Business -20.3 Income 21 *Impact billion Revenue Year 573,236 on before (billions of 8.5 “Other” *Businesses 2006 2007 Performance yen credit FY2005.3 Net yen) 7.3 and 789,250 2008impairment noteffect income Includes 27.8 of In
Slide 19: Non-interest Expenses
Table of Contents Non-interest Expenses communications Commissions Full Yearand Quarter 100 floor (billions brokerage of yen)Compensation (billions of yen) and1,000 benefits 300200 851.8 500Other 0 250 800 227.3 219.8 219.4 680.5 204.9 199.9 development 607.8 200 expenses 600 Occupancy and related d
Slide 20: Financial Supplement
Table of Contents Financial Supplement
Slide 21: Domestic Retail Related Data (1)
Table of Contents Domestic (billions FY2008.3 Fees -29.9% 46.4% 5.5 3.7 -36.8% 0.9 for individual 4.9 4.0 17.1% from -68.0% 5.9% Net Bond ofRetail investment FY2009.3 -44.7% yen) revenue investment investors Dom Related Foreign estic 305.8 FY2004.3 banking (transaction Data trusts distribution 304.4
Slide 22: Domestic Retail Related Data (2)
Table of Contents Domestic Stock Year distribution Quarter 373.0%(billions brokerage (billions 156.3% Retail ofof investm Related yen) commissions of yen) 180 ent 50 Data 150 trusts* 40(2) and 120 30 20 46.9 Commissions 9010 Stock 49.9 0 FY2008.3 95.9 brokerage for 124.7 distribution FY2009.3 com 12
Slide 23: Domestic Retail Related Data (3)
Table of Contents Domestic Full 2007 *mutual ** *** Domestic Includes Includes Year Mar.31, funds Quarter Retail Client Client CBs variable 1.6 2008 Related Assets* and 1.9 (trillions Assets Jun.30, 2.3 warrants annuity 2.0 Data =of 2008 Total 1.7 yen) Insurance (3)1.9 Equities of100 Other*** client
Slide 24: Domestic Retail Related Data (4)
Table of Contents Domestic Full (billions 0F 2,000 3,391 4,000 4,581 4,868 6,000 5,975 6,749 8,000 *Domestic 4Q 3Q 2Q 1Q FY2009.3 702 1,066 897 1,687 1,582 Quarter FY2008.3 FY2007.3 FY2006.3 FY2005.3 Y2004.3 YearofClient Retail Client yen) Related Assets AssetsNet Data excludes Asset (4) Inflow port
Slide 25: Domestic Retail Related Data (5)
Table of Contents Domestic Number Accounts Equity *Nomura **IT FY2004.3 FY2009.3 New IT No. holding ofwith Home Transaction share** Retail Total Accounts* ofindividual share orders balance Trade accounts of FY2005.3 is value the 49% Related Domestic (online /3,460 accounts IT 1,379 Data percentage 2
Slide 26: Global Markets Related Data
Table of Contents Global Notes: FY2008.3 173.8 -31.6% 103.2 Income *The shown Securitization As Residential Commercial Other Leveraged Comittments *Loans CMBS *GSE* Government of 20.7 June 123.1 -133.3 Securitization Japan In here. Markets by Other for before April FY2009.3 Rating billion Finance* 3
Slide 27: League Tables
Table of Contents League Net 16.0 Note: Equity (USD Deutsche Mitsubishi 3Jan. Morgan Nomura 7(JPY Goldman Citi Merrill revenue 1, 14.7 mil) In 4,885.7 mil) 2008 Capital Tables Stanley April 49,467.0 Lynch Bank 15.0 Issues Deals UFJ Sachs -70.9 Jun. 7.6% 2004, 14.6 FY2004.3 Markets 640.4 Financial 58
Slide 28: Merchant Banking Related Data
Table of Contents Global FY2004.3 (billions Full Japan exposure Ventures Year 68.9 Merchant of (NPV). in Quarter FY2005.3 108.4 yen) JapanFY2008.3 59.9 Banking (billions is total FY2006.3 195.5 of Related of FY2009.3 Nomura 169.5 yen) FY2007.3 600 Data 193.4 Principal QoQ 543.4 Europe FY2008.3 YoY 5
Slide 29: Asset Management Related Data (1)
Table of Contents AssetYear FY2004.3 (billions Management. Full Research March Note: Total Assets In Management 31, January of and Quarter FY2005.3 2006, yen) Under Asset Certain FY2008.3 include 2006, (trillions Management Related Management, FY2006.3 reclassifications certain Nomura of FY2009.3 Da
Slide 30: Asset Management Related Data (2)
Table of Contents Asset Nomura Domesticinvestment Mar. 6.3 5.4 5.3 5.8 Investment 2.0 2.2 1.5 0.8 0.4 7.1 7.0 5.1 4.4 Overseas 1.4 Full 1Q Exclude Public -1.0 Privately 0.1 -0.7Public 5.6 7.1 2.0 0.3 Year -0.7 -0.5 31 Management stock bond 5.6 7.4 3.0 0.5 Mar. Asset ETF 0.0 1.5 placed investment Qua
Slide 31: Asset Management Related Data (3)
Table of Contents Asset (trillions Mar. Jun. Stock Domestic 10.2 9.8 10.8 6.9 4.4 4.5 5.6 6.3 Market 19% 40% 2005 31— 219 225 348 8 5.6 263 30, 15% 42% 31, Mar. Management investment 5.8 and 2008 226 2004 2005 2006 2007 2008 ofPublic 15% 42% 31, 5.3 yen) Management Global 2006 5.4 18% 44% Investment
Slide 32: Dividend Policy
Table of Contents •Dividend (based Target Total Additional S 23 46 03T 49 141 otal Additional hare Target Full-year 84Return Buyback** Dividend on 67 Dividend Policy DOE Total Consolidated Payout Payout Ratio* of Return 8.5 Minimum 3%) When (billions 8.5* Recent Ratio Payout 8.5* a sufficient level
Slide 33: Value at Risk
Table of Contents Valueconfidence Definition 99% 1-day Inter-product time at Risk From horizon price level April fluctuations for(2.33 1, outstanding 2008 standard toconsidered June portfolio dev.) 30, 2008 Maximum: Average: Minimum: (billions 8.5 10.6 6.1 of yen) (billions of yen) End of the period
Slide 34: Number of Employees
Table of Contents Number of Employees Japan (excluding FA, SA)* Mar. 2004 Mar. 2005 Mar. 2006 Mar. 2007 Mar. 2008 Jun. 2008 Japan (FA, SA) 9,185 9,236 9,618 10,667 11,561 12,425 Europe 1,915 1,875 1,948 2,174 2,377 2,474 Americas 1,403 1,535 1,515 1,791 1,956 1,961 Asia/Oceania 866 1,026 1,073 1,322
Slide 35: Market Data
Table of Contents Market Full (trillions FY2009.3 Individual 1Q Off-floor/Off-exchange Off-floor Secondary Off-exchange JGB Bond Nomura Share Convertible Global Straight Nomura’s Source: Year Auction Secondary Data Equity and Share Thomson Bonds, Securities’ of market Quarter share FY2004.3 Equity M
Slide 36: Consolidated Income Data
Table of Contents Consolidated Note: income FY2008.3 Commissions Fees Asset Gain Private Other Total Interest Non-interest Income Net gain revenue income from (loss) revenue In management 23.6 equity from and expense (loss) accordance oninvestment FY2009.3 32.3 on from (loss) trading dividends 803.1
Slide 37: Adjustment and Notes
Table of Contents Adjustment (billions FY2008.3 FY2004.3 1Q Domestic Global 149.6 Unrealized Effect Incom before Notes:1. impairment 2consolidation income 3. 4. onward. 5. In In2Q accordance April January -26.3 of incom e3Q Investment from (loss) from of We consolidation/deconsolidation Retail FY200
Slide 38: Main Revenue Items
Table of Contents Main FY2005.3 75.1 98.3 153.6 103.0 40.3 166.6 73.2 79.5 40.2 14.3 13.0 12.2 38.6 49.1 26.7 30.3 22.6 15.8 16.1 137.6 *I92.7 5.7 -137.7 ncludes 22.2 40.6 6.8 32.4 57.3 37.8 20.6 10.5 Revenue 137.0 9.3 net 20.4 44.5 9.6 56.6 18.2 24.0 86.3 FY2006.3 1.7 51.7 interest 8.0 18.7 41.2 32
Slide 39: Nomura Holdings, Inc.
Table of Contents Nomura Holdings, Inc. www.nomura.com