Nomura Holdings, Inc. · TSE:8604
Nomura — Q3 FY2015/16 Earnings Presentation
37 slides from Nomura's earnings presentation, Feb 9, 2016
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 February 2016 NOMURA HOLDINGS, INC. (Translation of reg
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), Third quarter, year ending March 2016
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: February 9, 2016 By: /s/ Hajime Ikeda Hajime Ikeda Senior
Slide 4: Consolidated Results of Operations, Third quarter, year ending March 2016
Table of Contents © Nomura Consolidated Results of Operations Third quarter, year ending March 2016 (US GAAP) February 2016 Nomura Holdings, Inc.
Slide 5: Outline of Presentation
Table of Contents Outline Presentation liquidity “Other” (p.22) (p. 14)Retail Consolidated Financial related data balance Supplement (p. 23-26) sheetExecutive (p.16) Asset Management Value summary at risk (p.17) (p. related 2) Overview Consolidated data (p. 27-28) of results financial Wholesale (p.
Slide 6: Executive summary
Table of Contents Executive –Highlights Income Group-wide (billions 105.0 116.1 74.0 51.7 52.9 19.9 Three Asset Wholesale 53.8 45.6 60.3 68.9 82.3 Retail 101.4 (1) 2Q 4Q 3Q 2Q- 1Q FY2015/16 FY2014/15 (2) 2SpA Net Retail Inflows Divergent Personnel Booked Net –in FY2015/16 2Q82.0 70.0 46.6 35.4 48.5
Slide 7: Overview of results highlights
Table of Contents Overview (billions Highlights FY2015/16 QoQ 3Q Non-interest Income Net EPS2 ROE3 (1) (2) 3(3) 1-3Q revenue income1 YoY Y9.61 5.1% before ofYoY of Net yen, FY2015/16 7.3% 354.9 -24% expenses results 35.4 income Dilutedexcept -24% Calculated-49% +5% net 303.3 attributable taxes EPS -
Slide 8: Business segment results
Table of Contents Business (billions QoQ 3Q revenue Wholesale Other* Net income before taxes Subtotal Other Unrealized equity Income 4*Other 1-3Q Retail revenue YoY Wholesale *securities 34.6 (3Q) Asset Retail before -1.6 Asset 315.6 48.5 of segment YoY 104.3 186.0 gain yen) +115% and 354.9 —— inclu
Slide 9: Retail
Table of Contents FY2014/15 QoQ Non-interest Cash Retail (billions Stocks 0F 1,000 2,000 3,000 4,000 3Q Key Net Income Revenue —Investors —Sluggish Continued —Providing Client clients —Retail —Accounts —NISA —Net Total 5–Stocks: Y2014/15 Smaller Secondary Sluggish Stronger 4Q revenue revenue: points
Slide 10: Retail: key metrics
Table of Contents Retail: 100.0 24% 21% 80.0 60.0 72.0 40.0 20.0 FY2014/15 Assets Quarterly 2,000 1,694.7 1,500 0978.3 500 374.6 1,000 (1) 6(2)FY2014/15 /4Q 20% 78.0 65.7 10% Dec 25% 22% Recurring 1,927.5 1,338.0 347.5 Annualized recurring level Steady 3Q ago –Recurring Sales (billionsunder Client 1
Slide 11: Asset Management
Table of Contents Asset (billions Non-interest Assets (trillions 46.6 39.3 FY2014/15 37.7 (1) (2) the Key Net Income investment -investments QoQ Ongoing Inflows financial –3Q Investment AuM Nomura Taiwanese High-yield 7Management AuM Dividend Global NOMURA Nomura Assets Net retail 4Q net revenue rev
Slide 12: Asset Management: assets under management
Table of Contents Asset Assets (trillions 50.0 39.3 40.0 12.3 30.0 10.0 20.0 0.0 Investment (billions 1,500 (excl. 1,000 0-500 FY2014/15 -1,000 -500 3Q (1) (3) Nomura 24.6% 26.0% share2 24.0% 20.0% 22.0% Dec Strategic investment American Investments(ACI), approx. (announced By strengths we raise div
Slide 13: Wholesale
Table of Contents Wholesale QoQ Global Investment Non-interest (billions 200.0 250.0 32.7 150.0 26.8 100.0 50.0 FY2014/15 0.0 3Q Key Income Revenues Net Americas: EMEA: 9-AEJ: Global Investment Stronger Booked Challenging Rates Fixed ECM In 4Q Fixed revenue: revenue points 59.2 40.8 78.3 YoY Y27.1bn
Slide 14: Wholesale: Global Markets
Table of Contents Wholesale: (billions 199.0 176.2 149.7 81.7 92.1 74.7 75.0 117.4 FY2014/15 3Q Key amid impact aFixed -Net overall (1) 10Remained Strong Improved challenging 4Q ~revenue: revenue1 points YoY +5% 75.5 84.1 lower -1% 158.7 Income FY2015/16 YoY Global Markets 0% Japan AEJ EMEA Americas
Slide 15: Wholesale: Investment Banking
Table of Contents Wholesale: Net 52.7 29.2 8.1 2.5 29.6 -1% -0.4 20.7 FY2014/15 3Q ?Key —“Other” (Mitsui Investment including —Won —Japan Group Retained DCM —International Solid (1) Net YoY 4Q revenue -0.1 points 57.3 32.4 29.9 performance revenue: 33.6%)1 IPOs M&A, 1Q multiple Life) (HKD16.2bn) Con
Slide 16: Non-interest expenses
Table of Contents Full (billions 1,500 1,195.5 1,200 expenses depreciation and brokerage benefits FY2014/15 FY2013/14 3Q Compensation Commissions Information Occupancy Business Other Total Key –Non-interest Mainly 12Compensation Commissions Other 4Q communications year points 1,195.5 400 202.8 1Q du
Slide 17: Robust financial position
Table of Contents Robust Balance Shareholders’ Y43.5trn Y44.0trn Y41.8trn Gross Y2.8trn Y2.7trn 15.5x 15.9x 15.4x 9.7x 9.3x Liquidity Y0.4trn Y0.3trn (net) Y6.5trn Y6.2trn Y6.1trn Basel Mar Sep 2,552 2,501 2,459 Total 342 348 361 Tier 16,892 18,916 18,929 RWA3 2,894 2,850 2,820 CET 13.2% 12.9% Conso
Slide 18: Funding and liquidity
Table of Contents Funding Balance ?Highly structure marked-to-market trading through by and structural Long-term market debt, Short-term Liquidity –70% portfolio for short-term/long- over (1) (2) (3) 14Unsecured Y6.5trn, 81% Other Maintain currency) Trading additional Definition Excludes related1 lo
Slide 19: Financial Supplement
Table of Contents Financial Supplement
Slide 20: Consolidated balance sheet
Table of Contents Consolidated (billions 2015 Assets Trading 10,044 Long-term equity Noncontrolling Total (1) 16 2015 cash payables loans collateralized trading other NHI assets investments Liabilities 8,935 liabilities ofand shareholders’ Including (Decrease) borrowings assets and yen) 41,783 asset
Slide 21: Value at risk
Table of Contents ValueMar Nomura 99% Definition 1-day Inter-product From Maximum: Minimum: Average: (billions Mar Equity Interest Foreign Sub-total Diversification VaR 17 5.2 confidence April time at1.3 rate exchange 4.6 risk of Dec 5.5 8.0 1.0 3.5 horizon yen) 9.1 1, 9.7 3.9 6.2 price Mar 2015 3.3
Slide 22: Consolidated financial highlights
Table of Contents Consolidated Full Nomura 300 224.8 ROE(%) FY2013/14 (billions Quarter 90 12% 8.4% 60 8.6% 82.0 6% 7.3% 46.6 030 FY2014/15 3Q Income Net (“NHI”) ROE Basic-Net Diluted-Net shareholders Total 425.0 0%10.0% 7.3% 4Q 116.1 70.0 revenue income 8.6% year 68.7 3% (%)1 NHI 9% 213.6 1Q before
Slide 23: Consolidated results: revenue
Table of Contents Consolidated Nomura Full (billions 3Q Commissions Revenue Fees Asset Gain Other Total Interest Non-interest Income Net 19 4Q gain revenue income year from (loss) revenue management 179.5 1Q and expense before of on Quarter investment 2Q on yen) attributable trading dividends 175.7
Slide 24: Main revenue items
Table of Contents Mainyear Full Nomura FY2014/15 (billions Stock Commissions Fees Equity Bond M&A Other Asset Administration Custodial Total 20 from 473.1 91.3 168.7 revenue underwriting management brokerage 30.6 17.5 / underwriting financial of Quarter fees investment 95.1 46.8 21.2 yen) 453.4 203.
Slide 25: Business segment results
Table of Contents Consolidated Nomura Adjustment Retail Asset Wholesale Three Other Segments Unrealized securities Full (billions 3Q Americas Europe Asia Subtotal Japan Income Geographic used 21 4Qyear and for Management 20.0 386.3 Business 192.0 1Q -48.9 before business -24.7 of Oceania Quarter hel
Slide 26: Segment Other
Table of Contents Segment Nomura Full (billions 50.0 20.0 -10.0 0.0 -30.0 1-20.0 22 year 46.0 20.0 -4.0 -23.0 FY2014/15 3Q Net hedging Realized securities Equity Corporate Others Income 4Q gain of 8.4 in 1Q “Other” Quarter 44.8 14.7 -1.6 24.0 (loss) yen)40.0 10.0 transactions (loss) gain earnings he
Slide 27: Retail related data
Table of Contents Nomura Full (billions FY2014/15 FY2013/14 3Q Commissions Of Fees Investment Net Non-interest Income Domestic Bond Stock Foreign Accumulated Other Sales Retail (1) 23 which, 4Q interest revenue year from credit of investment investment related foreign 1Q before investment JGBs of Qu
Slide 28: Retail client assets
Table of Contents Nomura Retail (trillions 109.5 Other 91.7 080 20 FY2013/14 Mar Equities Foreign Domestic Stock Bond Overseas Other2 Total Including 2423 Mar 91.7 investment 108.8 100 investment related client 2.7 currency 53.2 of Dec mutual CBs annuity bonds1 109.5 4.5 yen) FY2014/15 120 assets 67
Slide 29: Retail net inflows
Table of Contents Retail Nomura Net Full F 997 1,076 1,500 (billions 0-Quarter 95 177 352 500 1,000 FY2014/15 -500 -356 3Q (1) 137 Y2013/14 25 4Q inflows year related 1QofCash 2Q yen) FY2014/15 FY2015/16 ofdata 3Q cash and(3) and securities securities1 inflows minus outflows, excluding regional fina
Slide 30: Retail accounts
Table of Contents Retail Number Mar Accounts Equity Nomura Net Full (thousands) FY2013/14 3Q New IT No. Transaction (1) 26 share1 4Q & of year Mar Individual individual related Call orders holding 1Qof Home Dec Quarter with Percentage 2Q accounts FY2014/15 FY2013/14 FY2014/15 value 58% data Mar 3Q b
Slide 31: Asset Management related data
Table of Contents Asset Full FY2014/15 (billions 3Q Non-interest Income FY2013/14 (trillions Mar Group Assets Historical Nomura Capital Total Net 27 4Q revenue after year Mar assets Management company under 1Q on before Asset Funds Corporate Private of of deducting Dec Quarter AuM December 2Q yen) y
Slide 32: Nomura Asset Management related data
Table of Contents Nomura Asset Full (billions 2013/14 of Investment Net (trillions Mar Domestic Market ETF Nomura’s (1) 28 which asset year Mar Management inflows/outflows 65.7 14.5 8.1 2014/15 of of ETFs Dec Quarter inflow public share Based 12.9 yen) trusts advisory yen) 80.3 16.7 Mar 882 (%) 10.6
Slide 33: Wholesale related data
Table of Contents Nomura Wholesale FY2013/14 Non-interest Income Breakdown Full (billions 3Q Fixed Equities1 Global Other Net Investment (1) 29 Fixed 4Q revenue year 18.0 Income1 1Q Markets before of Quarter Income 264.3 2Q related 1.8 yen) Banking FY2014/15 of 765.1 expenses 3Q Wholesale -0.4 incom
Slide 34: Wholesale: private equity related data
Table of Contents Wholesale Nomura Private (billions 60 70 56.4 50 40 0F 10 20 Firma) Mar Japan Europe Asia Sub Terra Total 30 Y2013/14 57.2 28.8 Total Mar 56.4 45.6 1.9 57.2 Firma 8.1 equity (excluding 58.7 2.1 of Dec 10.6 32.6 44.6 56.4 related yen) FY2014/15 24.6 2.1 Mar related 10.8 32.6 58.7 2.
Slide 35: Number of employees
Table of Contents Number Nomura FY2013/14 Mar Japan Europe Americas Asia Total (1) 31 Mar and 27,670 16,037 3,461 of Oceanea1 Dec 2,281 Includes employees FY2014/15 28,672 15,973 3,485 Mar 2,449 Jun 5,891 Powai 3,539 28,889 16,143 2,445 Sep FY2014/15 6,765 3,485 office Dec 28,672 15,973 2,449 6,762
Slide 36: Disclaimer
Table of Contents Disclaimer Nomura 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 No
Slide 37: Nomura Holdings, Inc.
Table of Contents Nomura Holdings, Inc. www.nomura.com