Nomura Holdings, Inc. · TSE:8604

Nomura — FY2004 Earnings Presentation

47 slides from Nomura's earnings presentation, May 21, 2004

  1. Slide 1: 2004

    5 21 5 21 14 2004 5 21 1

  2. Slide 2: I I II II

    II II II III III IV IV 2

  3. Slide 3: I I II II

    II II II III III IV IV 3

  4. Slide 4: GDP

    2002 2003 2004 f GDP GDP 1.2 3.2 2.7 FY z z z I 2 2 4

  5. Slide 5: GDP

    1 % GDP 12.0 GDP 10.0 8.0 6.0 4.0 2.0 0.0 -2.0 -4.0 -6.0 02 03 04 1-3 4-6 7-9 10-12 1-3 4-6 7-9 10-12 1-3 CY I GDP 2002 2003 5

  6. Slide 6: DVDs DVDs TV

    2 18 2.0 DVDs DVDs 15 1.5 12 TV TV 9 1.0 6 0.5 3 TV TV 0 0.0 90 91 92 93 94 95 96 97 98 99 00 01 02 03 CY 97 98 97 98 99 99 00 00 01 01 02 02 03 03 04(f)05(f)06(f)07(f) 04 05 06 07 CY I 2000 2003 2 6

  7. Slide 7: 91 92 93 94 95 96 97 98 99 00 01 02 03 04

    1 ,% 105 8 100 6 100 4 95 91.9 2 90 0 85 -2 80 -4 91 92 93 94 95 96 97 98 99 00 01 02 03 04 CY 91 92 93 94 95 96 97 98 99 00 01 02 03 CY 12 100 5 2004 3 5 : I 98 8 95 7

  8. Slide 8: M&A

    2 M&A 2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 95 96 97 98 99 00 01 02 03 CY I M&A 2003 M&A 1719 95 5 M&A 8

  9. Slide 9: D/E Ratio & ROE

    3 D/E Ratio & ROE NOMURA400 200 180 160 D/E D/E ratio ratio % % 140 116 120 100 14 12 10 9.0 8 6 ROE ROE % % 4 2 0 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 FY e f I 400( ) ROE ROE 9.0 9

  10. Slide 10: NOMURA400

    4 NOMURA400 30 20 A 25 B 20 A-B 15 10 10 5 0 0 -5 -10 -15 -10 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03(e) FY 84 85 + + 99 00-01 02 03 I 400 1988 2000 2 10

  11. Slide 11: FRB Flow of funds accounts of the United States

    1 1,405 2003.12 35 2003.12 2 12 2 7 12 7 36 11 54 28 56 29 FRB “Flow of funds accounts of the United States” I 54 11 11

  12. Slide 12: % 40,000 35,000 30,000 25,000 20,000 15,000 10,000 % 5,000 30 25 20 %

    2 % 40,000 35,000 30,000 25,000 20,000 15,000 10,000 % 5,000 30 25 20 % % 15 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 FY I 80 99 18 3 1986 12

  13. Slide 13: 50,000 45,000 40,000 35,000 23.3 23.3 30,000 5 10.4 10.4 25,000 20 20,000 15

    3 45 50,000 40 45,000 40,000 35 35,000 30 23.3 23.3 30,000 25 10.4 10.4 25,000 20 20,000 15 15,000 10 10,000 5 5,000 0 0 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 FY I 1997 10.4 2003 23.3 2 13

  14. Slide 14: A B B

    4 2003 1 2008 1 26 10 20 A B B 2003 4 2008 4 50 10 20 C D D 2004 1 2008 1 20 10 20 D D D 2004 1 2008 4 20 10 20 D D D 20 D A : 1.05 26 C : 20 B : D : I 10 14

  15. Slide 15: * / 16.4 16.4 - .4 5.4 90 6 80 70 4 60 2

    5 * / 18 16.4 16.4 150 16 - 140 130 14 120 12 110 10 100 8 5.4 5.4 90 6 80 70 4 60 2 0 97 98 99 00 01 02 03 CY * I 2003 12 16.4 98 5.4 3 15

  16. Slide 16: I I II II

    II II II III III IV IV 16

  17. Slide 17: ROE

    10 350 18 16 300 282.7 14 250 11.1 12 10.1 200 10 173.0 168.0 172.3 7.4 150 8 119.9* 6 100 4 47.4 50 2 0 0 FY02.3 FY03.3 FY04.3 * II 2004 3 496 2,827 44 1,723 ROE 10.1 17

  18. Slide 18: FY02.3 FY03.3 FY04.3

    10 200 191.3 FY02.3 3 175 FY03.3 FY04.3 FY02.3 FY03.3 FY04.3 150 138.5 221.9 129.9 217.0 125 100 91.0 79.5 75 50 35.7 25 20.5 10.2 3.2 0 -1.0 -25 II 795 1,385 10 18

  19. Slide 19: I I II II

    NOAURA o6hlté‘ MW” o6™LTC Ill | =

  20. Slide 20: ROE

    10 15 ROE III 10 15 ROE 3 20

  21. Slide 21: I I II II

    NOAURA = 6hltCté‘ MW o6h™hLTC Ill | =

  22. Slide 22: III

    NOAURA um 22

  23. Slide 23: 37.2 37.2 40.8 40.8 40,000 30,000 20,000 10,000 0 0 85.3 86.3 87.3 88.3

    1 37.2 37.2 40.8 40.8 40,000 40 30,000 30 20,000 20 10,000 10 0 85.3 86.3 87.3 88.3 89.3 90.3 91.3 92.3 93.3 94.3 95.3 96.3 97.3 98.3 99.3 00.3 01.3 02.3 03.3 04.3 FY III 89 3 1 3 40.8 23

  24. Slide 24: FY98.3 FY99.3 FY00.3

    2 40 25,000 32.1 32.1 35.2 35.2 20,000 30 15,000 20 10,000 10 5,000 0 0 FY98.3 FY99.3 FY00.3 FY01.3 FY02.3 FY03.3 FY04.3 III 2000 24

  25. Slide 25: FY98.3 FY99.3 FY00.3 FY01.3 FY02.3 FY03.3 FY04.3

    3 1.5 1 1 4 3.7 3.7 32 31 3 1.6 1.6 1 1.0 37 2 0.5 2 2 10 1 18 2 15 0 0.0 FY98.3 FY99.3 FY00.3 FY01.3 FY02.3 FY03.3 FY04.3 1 2 3 4 5 6 03 3 03 4 03 7 03 10 04 1 04 4 III 2001 3 4 1 25

  26. Slide 26: III

    4 1,600 16 16 18 20,337 20,337 15 1,400 12 16.3 16.3 1,200 9 6 7,831 7,831 1,000 3 800 0 00.3 01.3 02.3 03.3 04.3 III 2004 3 16 16.3 26

  27. Slide 27: FA FA

    WM FA FA SA WM FA SA III FA 27

  28. Slide 28: I I II II

    NOAURA o6hlté‘ MW” o6™LTC Ill | =

  29. Slide 29: III

    „ „ „ „ „ „ III 29

  30. Slide 30: NCRAM

    2004 3 2004 3 40 1 19 1 67 1 15 6,814 +1 4,445 25 20 1 1,583 +2,080 15 10 NCRAM 5 8,014 +2,367 0 FY 02.3 FY 03.3 FY 04.3 III 3 1 4,445 15 6,814 NCRAM 3 2,080 2,367 30

  31. Slide 31: III

    „ „ III 31

  32. Slide 32: NCRAM US

    1 1 „ 03 10 04 3 431 „ 03 11 04 3 972 „ US 03 12 04 3 1,780 „ „ „ 04 3 04 3 365 III 1 3 431 11 972 12 NCRAM US 1780 32

  33. Slide 33: NCRAM REIT

    2 2 6 „ „ 4 „ NCRAM „ REIT 3 2 NCRAM 4 0 FY99.3 FY00.3 FY01.3 FY02.3 FY03.3 FY04.3 III 2 NCRAM REIT 2003 3 NCRAM 33

  34. Slide 34: III

    1 10 160 120 80 40 0 02.9 02.12 03.3 03.6 03.9 03.12 04.3 02.9 02.12 03.3 03.6 03.9 03.12 04.3 III 2001 10 34

  35. Slide 35: III

    2 „ „ III 2 3 35

  36. Slide 36: I I II II

    NOAURA o6hlté‘ MW” o6™LTC Ill | =

  37. Slide 37: III

    NOAURA um 37

  38. Slide 38: REIT MPO

    1 REIT MPO „ „ „ „ „ „ „ „ „ „ III 38

  39. Slide 39: III

    NOAURA 2 um

  40. Slide 40: III

    3 „ „ „ „ „ III 1 CB 2 3 40

  41. Slide 41: SMIC

    3.5 3.0 „ „ „ „ „ 2.5 „ 2.0 1.5 1.0 „ „ 0.5 SMIC 0.0 FY01.3 FY02.3 FY03.3 FY04.3 III 1 9,900 41

  42. Slide 42: IPO, PO and M&A

    1 IPO 2003.4.1-2004.3.31 „ 27 REIT „ „ 1 TOB „ „ „ PO 2003.4.1-2004.3.31 „ 33 „ 1 „ M&A % 2003.4.1-2004.3.31 31 1 26.1 30 1 2 20.8 11 33 20.6 26.5 1215 2003.1.1 2003.12.31 2003.4.1 – 2004.3.31 III IPO PO 1 M&A 42

  43. Slide 43: NPF

    2 10 400 NPF NPF 357.2 MBO 350 66.0 „ „ „ 300 281.8 284.9 „ 16.1 19.2 „ 250 200 150 291.2 265.7 265.7 100 50 0 02.3 03.3 04.3 FY III NPF 43

  44. Slide 44: I I II II

    II II II III III IV IV 44

  45. Slide 45: CEO

    CEO CEO 1 CEO IV 6 3 CEO 3 CEO 45

  46. Slide 46: ISS MSCI EAFE

    CGQ 1 73 2 72 97.7 100.0 100.0 3 71 4 70 MSCI EAFE 5 68 2.3 2003 1 200 „ 73 „ 12 „ 37.6 ISS 2004 4 17 IV ISS MSCI EAFE 1 200 2 46

  47. Slide 47: Nomura Holdings, Inc.

    Nomura Holdings, Inc. www.nomura.com/jp/ www.nomura.com/jp/ 47

Nomura Holdings — FY2004 Earnings Presentation on 6ix