Nomura Holdings, Inc. · TSE:8604
Nomura — Investor Presentation (May 2005)
36 slides from Nomura's investor presentation, May 23, 2005
Slide 1: Investor Presentation
NOMURA Investor Presentation
Slide 2: I I II II
II II II III III IV IV 1
Slide 3: I FY02.3 FY02.3
I 250 250 12 11.1 221.9 217.0 10.1 10 200 200 172.3 175.0 168.0 7.4 8 150 150 129.9 119.9* 5.2 6 100 100 94.7 4 50 50 2 0 0 0 FY02.3 FY02.3FY02.3 FY03.3 FY03.3FY03.3 FY04.3 FY04.3FY04.3 FY05.3 FY05.3FY05.3 -50 2
Slide 4: I I II II
II II II III III IV IV 3
Slide 5: II z z 10
II z z 10 15 ROE z / z z 4
Slide 6: I I II II
II II II III III / IV IV 5
Slide 7: III
III 6
Slide 8: I I II II
II II II III III / IV IV 7
Slide 9: FY03.3 FY04.3 FY05.3
60 100 90 50 80 70 40 60 30 50 40 20 30 20 10 10 0 0 FY03.3 FY04.3 FY05.3 FY07.3 8
Slide 10: 3,000 9000 8000 2,500 7000 2,000 6000 5000 00 1,500 4000 400 1,000 3000
3,000 9000 900 8000 800 2,500 7000 700 2,000 6000 600 5000 500 1,500 4000 400 1,000 3000 300 200 2000 500 100 1000 0 0 1 2 3 4 5 6 7 8 9 10 03.12 04.3 04.6 04.9 04.12 05.3 9
Slide 11: 03.3 03.9 04.3 04.9 05.3
120 110 100 03.3 03.9 04.3 04.9 05.3 10
Slide 12: FY03.3 FY03.3 FY04.3 FY04.3 FY05.3 FY05.3 1H 2H
240 60 2,000 1,800 50 210 1,600 1,400 40 180 1,200 30 1,000 150 800 800 20 600 600 120 400 400 10 200 200 100 90 0 00 FY03.3 FY03.3 FY04.3 FY04.3 FY05.3 FY05.3 FY03.3 FY03.3 FY04.3 FY04.3 FY05.3 FY05.3 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 1H 2H 11
Slide 13: z z
z z 12
Slide 14: 2003 2004 2005 2006 -5 -5
25 25 20 20 15 15 10 10 5 5 0 0 2003 2004 2005 2006 -5 -5 13
Slide 15: z z z z 03.3 03.9 04.3 04.9 05.3
12 z 10 z 8 6 z 4 2 z 0 03.3 03.9 04.3 04.9 05.3 14
Slide 16: 50% 45% 40% 35% 30% 0 50 25 25% 15 40 20 20% 30
10 35 50 50% 90 45 45% 80 30 40 40% 70 25 35 35% 60 30 30% 20 50 25 25% 15 40 20 20% 30 10 15 15% 10 10% 20 5 5 5% 10 0 0 0% 0 02.602.902.12 03.303.603.903.12 04.304.604.904.12 05.3 03.11 03.11 04.2 04.3 04.5 04.8 04.9 04.11 05.2 05.3 15
Slide 17: I I II II
II II II III III / IV IV 16
Slide 18: 17
17
Slide 19: z z z z 00.12 01.12 02.12 03.12 04.12 18
500 10 450 1 400 350 300 2 250 5 200 z z 150 z 100 z 50 0 0 00.12 01.12 02.12 03.12 04.12 18
Slide 20: z z z z 20.4 20.4 31.6 31.6 I z 0.2 0.2 z 1.8
1 z z z z 20.4 20.4 31.6 31.6 I 2 z 3 0.2 0.2 z 1.8 1.8 4 z z 19
Slide 21: 20
20
Slide 22: I I II II
II II II III III / IV IV 21
Slide 23: M&A and equity league tables
M&A 2004 2004 US US 1 16,026 161 1 19,757 19,364 128 129 2 SMBC 11,642 119 2 SMBC 15,755 96 3 8,996 73 3 12,993 23 4 UBS 4,849 10 4 11,235 28 5 3,275 47 5 10,195 18 60,502 586 87,309 2,387 2004 MPO/HPO 10 1 3330 333 24 58.0% 2 126 1 21.9% 3 SMBC 49 12 8.5% 4 UBS 20 1 3.5% 5 13 7 2.2% 575 51 100.0% 2
Slide 24: ROTHSCHILD TWP
ROTHSCHILD TWP KfW 23
Slide 25: 429.5 357.2 z 284.9 325.5 291.2 150 265.7 z z 100 50 104.0 66.0
450 429.5 1 400 357.2 z 350 300 284.9 325.5 250 200 291.2 2 150 265.7 z z 100 50 104.0 66.0 19.2 0 03.3 04.3 05.3 24
Slide 26: NPF
UHT MBO NPF 25
Slide 27: I I II II
II II II III III IV IV 26
Slide 28: IV
IV 27
Slide 29: z z z z z z z
z z z z z z z 28
Slide 30: GDP
10.0 8.0 6.0 4.0 2.0 0.0 -2.0 -4.0 -6.0 -8.0 -10.0 2003 2004 2005 1-3 4-6 7-9 10-12 1-3 4-6 7-9 10-12 1-3 4-6 7-9 10-12 1-3 4-6 7-9 10-12 1-3 4-6 7-9 10-12 1-3 4-6 7-9 10-12 2005 1 3 GDP 2005 5 17 2005 4-6 3 29
Slide 31: D/E D/E ratio ratio %
% 200 180 160 140 D/E D/E ratio ratio % % 120 87 100 80 12 9.5 10 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 05 FY e f 30
Slide 32: 80 81 82 83 84 85 86 87 88 89 90 91 92 93
15 30 A 10 25 B 20 A-B 15 55 10 5 0 00 -5 -10 -5 -5 -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 05 FY e (f) (e) f 84 85 + + 99 -10 00-01 02-03 04-05 31
Slide 33: FRB Flow of funds accounts of the United States
1,424 2004.12 36.8 2004.12 3 12 2 6 13 8 34 13 52 29 26 55 FRB “Flow of funds accounts of the United States” 32
Slide 34: M&A
2,500 2,000 M&A 1,500 1,000 500 0 95 96 97 98 99 00 01 02 03 04 CY 33
Slide 35: 1985 86 87 88 89 90 91 92 93 94 95 96 97 98
1985 100 600 550 500 450 400 350 300 250 200 150 100 50 0 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 CY 34
Slide 36: 2003 2008 2003 2008 2004 2008 20 10 20 20 2003 1 2007 12
2003 1 2008 1 26 10 20 2003 4 2008 4 50 10 20 2004 1 2008 4 20 10 20 20 2003 1 2007 12 10% 3 2003 4 2008 3 10 5% 2008 4 20% 2004 1 2008 3 10% 2004 1 35