Nomura Holdings, Inc. · TSE:8604

Nomura — FY2005 Earnings Presentation

38 slides from Nomura's earnings presentation, Nov 14, 2006

  1. Slide 1: FY2005 Results Presentation (US GAAP)

    2006 3 (US GAAP) 2006 4 2006 3 2006 4 28 6 30 CFO 1

  2. Slide 2: 2

    2 2

  3. Slide 3: (P4) (P5) (P6)

    „ (P4) „ ROE (P15) „ (P5) „ (P16) „ (P18) „ (P6) „ (P19) „ (P7) „ (P20) „ (P8) „ (P22) „ (P9) „ (P23) „ (P10) „ / (P24) „ (P11) „ (P25) „ (P12) „ P29 „ (P13) „ (P30) „ 4 (P33) „ (P34) „ (P35) „ P36 „ P37 3 3

  4. Slide 4: Consolidated results and ROE

    ‡ 43 1 1,457 2.7 5,450 3.2 3,043 ROE 15.5 * ROE 10 (10 (10 ) 1,200 1,145.7 600 545.0 350 ROE 25% 43 304.3 1,000 500 300 2.7 20% 799.2 3.2 800 400 250 15% 200 600 300 15.5% 204.8 150 10% 400 200 94.7 100 5% 200 100 50 5.2% 0 0 0 0% 2005 3 2006 3 2005 3 2006 3 2005 3 2006 3 * 1999 3 144 SFAS144 NPF 4

  5. Slide 5: Income before income taxes

    „ 1 598 49 4,520 2.4 „5 „ „ ‡ ‡ M&A „ „ ‡ ‡ „ ‡ 10 10 452.0 • 1,200 1,059.8 500 P20 20.6 • 8.4 65.8 P22 1,000 49 55.4 68.2 400 2.4 99.7 51.5 800 709.0 29.8 300 49.0 7.3 371.1 157.7 600 75.4 187.6 243.1 200 10.1 400 10.0 29.2 60.2 200 446.5 100 197.2 304.4 81.2 0 0 -3.0 -30.5 2005 3 2006 3 2005 3 200

  6. Slide 6: Net income and ROE

    ‡ 3,257 9% 39 2,096 12% 3.1 1,286 21 5.0 ROE* 25.4 * ROE (10 (10 ) ROE 10 250 140 30% 400 25.4% 359.8 209.6 325.7 120 22.1% 25% 200 187.1 300 272.6 100 128.6 20% 234.5 150 80 187.5 117.6 106.5 200 13.1% 15% 60 100 67.0 10% 40 100 5.5% 50 30.7 60.9 20 5% 1.8% 25.5 0 0 0 8.3 0% 2005 3 2006 3 2005 3 20

  7. Slide 7: Segment income before income taxes

    ‡ 2,822 27 40 1,012 56 86 ‡ 10 10 386.4 400 250 231.8 • 1.0 18.1 6.2 P21 • 80.1 P22 282.2 200 77.6 300 18.4 35.3 31.1 219.8 150 101.2 23.3 201.3 15.4 5.7 200 10.2 6.9 17.0 12.0 171.4 20.5 115.2 128.4 10.4 13.4 19.4 81.5 60.9 14.0 100 4.7 12.8 77.7 4.7 66.0 9.1 69.8 49.8 100 54.6 37.4 6.1 31.5 50 1.7

  8. Slide 8: Domestic retail

    1,236 10 55 514 31 2.6 * 1.1 80.5 ‡ 18 442 ‡ ** 4 *** 286 ** P25 *** 2002 3 10 (10 500 150 446.5 136.7 123.6 400 • 101.4 305.8 304.4 100 197.2 84.8 300 79.6 P25 249.3 • * 200 74.1 P26 50 • P27 51.4 • P28 100 41.4 • 79.5 81.2 P33 30.3 35.7 19.6 0 0 2005 3 2006 3 2003 3 2004 3 2005 3 2006 3 4Q 1Q 2Q 3

  9. Slide 9: Global markets

    1,284 12 84 660 8 4.9 ‡ 15 620 ‡ 7 572 (10 400 200 371.1 350 180 300 284.1 160 243.1 128.4 140 236.0 115.2 250 120 200 100 77.7 • 69.8 80 P33 150 157.7 49.8 60 • 100 66.0 P35 120.8 60.9 40 • 50 93.6 20 P36 60.2 31.5 0 13.3 0 -0.7 -50 -20 2005 3 2006 3 2003 3 2004 3 2005 3 2006 3 4Q 1Q 2Q 3Q 4Q 154.0

  10. Slide 10: Investment banking

    311 12 61 170 27 2.8 ‡ 93 55.5 * ‡ IPO 37 ‡ 2,000 ‡ M&A 2005 ** 1 * 10 10 120 40 35.3 99.7 100 31.1 30 • P33 80 75.4 23.3 • ** 69.1 70.9 20.5 P34 19.4 20 • 60 51.5 17.0 P35 12.8 40 29.2 9.1 ( 10 17.2 6.0 20 12.8 2.2 0 0 2005 3 2006 3 2003 3 2004 3 2005 3 2006 3 4Q 1Q 2Q 3Q 4Q 69.1 70.9 75.4 99.7 32%

  11. Slide 11: Merchant banking

    155 210 ‡ ‡ NPF 10 10 90 90 80.1 68.2 77.6 60 60 80 • PE 55.4 / P24 30 30 • 10.7 10.4 P29 7.3 6.9 -6.6 -3.3 -15.5 0 7.7 0 4.7 0.5 -3.0 -5.9 -15.3 -21.0 -30 -30 2005 3 2006 3 2003 3 2004 3 2005 3 2006 3 4Q 1Q 2Q 3Q 4Q -6.6 10.7 7.3 68.2 830% 10.4 -3.3 6.9 80.1 -15.5 8.6 10.2 10.4 12.8 24% 2.7 2.6 2.2

  12. Slide 12: Asset management

    184 2 54 57 8 3.3 23.3 12 0.8 ‡ 12 1,692 4,605 * 1,850 * ‡ 5,179 * 12 1,853 1 ‡ 6 3 901 *3 10 10 70 65.8 18.4 20 18.1 60 15.4 49.0 14.0 15 50 40.3 12.0 40.4 • 40 P30 31 10 • 30 P32 20.6 6.2 5.7 20 4.7 4.0 5 10.0 10 4.0 1.7 0.5 0 0 2005 3 2006 3 2003 3 2004 3 2005 3 2006 3 4Q 1Q 2Q 3Q 4Q 40.4 40.3 49

  13. Slide 13: Expenses by category

    1,809 17 23 ‡ IT 32% 273 ‡ 4% 877 / P19 P24 10 350 311.3 300 264.7 256.9 10 (10 250 700 200 160.7 607.8 180.9 200 600 521.4 154.5 142.4 151.1 504.0 146.8 134.0 138.3 150 150 500 100 84.5 87.7 400 73.9 69.1 70.0 100 150.5 41.5 114.4 41.0 300 113.7 39.2 50 38.6 39.7 34.6 43.5 46.2 200 30.6 30.3 50 0 2

  14. Slide 14: 14

    14 14

  15. Slide 15: Net income and ROE trends

    ROE 10 400 20% 15.5% 300 15% 304.3 11.1% 10.1% 200 10% 7.4% 168.0 172.3 5.2% 100 119.9 5% 94.7 0 0% 2002 3 2003 3 2004 3 2005 3 2006 3 168.0 119.9 172.3 94.7 304.3 ROE 11.1% 7.4% 10.1% 5.2% 15.5% 85.6 61.3 88.8 48.8 159.0 816.5 846.4 919.7 962.5 1,083.2 15 15

  16. Slide 16: Five-year income statement

    10 2002 3 2003 3 2004 3 2005 3 2006 3 140.0 141.6 210.2 222.0 356.3 61% 75.3 81.8 87.0 92.3 108.8 18% 110.0 79.3 66.2 78.5 102.7 31% 162.2 172.3 229.0 201.7 304.2 51% 232.5 -14.4 13.1 7.7 12.3 59% 500.5 368.7 343.3 401.4 693.8 73% -55.9 -41.3 55.9 15.3 67.7 342% 6.2 17.6 75.1 88.2 18% * 660.8 13.4 2

  17. Slide 17: Quarterly income statement

    2005 3 2006 3 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 69.5 45.6 46.3 60.6 55.2 77.5 106.2 117.5 11% 94% 15.4 32.3 18.4 26.1 14.7 24.1 28.6 41.5 45% 59% 18.2 19.8 19.3 21.1 19.9 24.9 25.6 32.2 26% 52% 53.6 23.1 54.7 70.3 70.8 43.8 90.6 99.0 9% 41% 0.5 -2.1 -2.2 11.5 -2.5 2.2 7.6 5.0 -35% -57% 81.9 101.1 122.0 96.4 1

  18. Slide 18: Quarterly revenue details

    10 2006 3 2003 3 2004 3 2005 3 2006 3 1Q 2Q 3Q 4Q 48.2 92.1 103.0 153.6 49% 20.8 34.6 53.9 44.2 -18% ( ) 29.3 45.4 40.2 79.5 98% 8.0 14.2 16.7 40.6 143% 7.6 12.2 13.0 14.3 10% 2.8 2.2 6.0 3.3 -45% 30.5 37.3 41.7 85.1 104% 17.5 19.6 22.4 25.6 14% 26.0 23.2 24.1 23.8 -1% 6.1 6.9 7.2 3.7 -48% 141.6 210

  19. Slide 19: Quarterly results by line

    10 2006 3 2003 3 2004 3 2005 3 2006 3 1Q 2Q 3Q 4Q 602.8 729.5 709.0 1,059.8 49% 171.4 219.8 386.4 282.2 -27% 513.5 504.0 521.4 607.8 17% 134.0 138.3 154.5 180.9 17% 89.2 225.5 187.6 452.0 141% 37.4 81.5 231.8 101.2 -56% -43.0 54.7 8.4 59.3 609% -11.0 31.3 36.3 2.8 -92% -43.0 54.7 8.4 59.3 609% -11.0

  20. Slide 20: Segment results annual

    10 2002 2003 2004 2005 2006 3 3 3 3 3 229.1 249.3 305.8 304.4 446.5 47% 208.6 213.6 226.2 223.2 249.3 12% 20.5 35.7 79.5 81.2 197.2 143% 215.8 236.0 284.1 243.1 371.1 53% 133.2 142.4 163.3 182.9 213.4 17% 82.6 93.6 120.8 60.2 157.7 162% 88.3 69.1 70.9 75.4 99.7 32% 57.4 56.4 53.7 46.2 48.1 4% 30.9 1

  21. Slide 21: Segment results quarterly

    2005 3 2006 3 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 87.0 64.8 73.0 79.6 84.8 101.4 136.7 123.6 -10% 55% 53.3 54.9 55.0 60.0 54.5 60.0 62.6 72.2 15% 20% 33.7 9.8 18.0 19.6 30.3 41.4 74.1 51.4 -31% 162% 71.8 44.9 56.6 69.8 49.8 77.7 115.2 128.4 12% 84% 41.2 41.5 43.8 56.4 50.5 46.2 54.3 62.4 15% 11% 30.6 3.4 12.8 1

  22. Slide 22: Other operating results

    10 2006 3 2003 3 2004 3 2005 3 2006 3 1Q 2Q 3Q 4Q -41.6 7.0 10.1 -30.5 7.6 -9.9 -10.3 -17.9 -6.2 -12.8 -9.7 -64.8 -2.8 -8.5 -17.6 -36.0 1.7 1.2 6.9 8.4 8.2 -0.1 0.0 0.3 -3.8 8.5 7.3 27.8 2.7 2.9 8.3 13.9 -9.4 -10.7 4.5 -7.4 0.5 -3.7 -3.6 -0.6 * -23.9 20.7 1.0 5.5 -1.1 -0.6 2.6 4.5 *2003 3 212 22 22

  23. Slide 23: Consolidated balance sheet

    10 2005 3 2006 3 2005 3 2006 3 1,047 1,556 521 692 964 1,240 1,221 1,364 21,666 20,263 5,332 6,528 14,389 17,028 1,310 642 881 15,601 13,697 2,828 3,599 2,231 1,381 32,620 32,963 932 1,868 2,063 34,489 35,026 34,489 35,026 144 SFAS144 23 23

  24. Slide 24: Retail results detail

    / 10 2006 3 2004 3 2005 3 2006 3 1Q 2Q 3Q 4Q 259.3 275.0 325.4 72.6 73.8 87.9 91.2 144.3 159.6 170.4 41.4 42.1 43.2 43.8 142.4 151.1 160.7 38.6 39.7 41.0 41.5 1.9 8.5 9.7 2.8 2.4 2.2 2.3 115.0 115.4 155.0 31.2 31.7 44.7 47.4 114.4 113.6 150.5 30.6 30.3 43.5 46.2 0.6 1.8 4.5 0.6 1.4 1.2 1.2 19.2 23.9

  25. Slide 25: Retail business data

    (1) 2006 3 2003 3 2004 3 2005 3 2006 3 1Q 2Q 3Q 4Q 10 2,284.7 1,990.0 1,154.4 1,119.2 304.8 340.7 268.6 205.1 10 34.9 46.9 49.9 95.9 19.5 20.9 26.8 28.6 16.9 11.1 6.4 3.5 1.1 0.8 0.7 0.8 11.6 21.5 31.6 74.2 14.8 16.9 19.1 23.4 6.4 14.2 11.9 18.2 3.7 3.2 7.0 4.4 11.9 13.7 14.2 20.5 3.9 4.7 6.3 5.7 8.

  26. Slide 26: Client assets data

    (2) * 90 79.4 80.5 80 69.4 *** 70 61.2 62.6 60 54.8 50 40.6 40 30 ** 20 10 0 2003 3 2004 3 2005 3 2005 6 2005 9 2005 12 2006 3 17.1 28.9 33.5 34.4 40.0 48.6 49.3 3.7 4.0 4.0 3.9 3.9 3.8 3.6 8.5 10.0 11.8 12.0 12.5 12.8 13.1 2.2 3.0 3.3 3.6 4.1 4.8 5.3 * 6.5 5.5 4.9 4.6 4.7 4.8 4.5 1.1 1.6 1.9 2.0 2.

  27. Slide 27: Trading volume data

    (3) * ** 10 (10 8,000 2,000 6,748.5 1,461.7 6,000 1,500 4,581.5 1,191.0 1,065.3 4,000 3,391.2 863.5 1,000 1,787.7 2,000 500 0 0 2006 3 2003 3 2004 3 2005 3 2006 3 1Q 2Q 3Q 4Q * 27 27

  28. Slide 28: Retail accounts data

    (4) 2003 3 2004 3 2005 3 2005 6 2005 9 2005 12 2006 3 * 1,141 1,367 1,716 1,774 1,828 1,901 1,969 IT ** 38% 47% 50% 52% 53% 53% 56% 14% 22% 24% 25% 26% 27% 29% * 3,418 3,460 3,678 3,695 3,707 3,748 3,780 * 1,311 1,379 1,680 1,692 1,687 1,713 1,745 * ** 237 297 425 81 80 93 90 28 28

  29. Slide 29: Merchant banking investments

    10 491.3 500 457.6 461.8 470.4 439.1 400 375.7 301.6 300 200 143.7 148.1 156.8 132.1 84.5 98.7 100 35.9 0 2003 3 2004 3 2005 3 2005 6 2005 9 2005 12 2006 3 20.1 68.9 108.4 115.0 116.1 124.8 59.9 15.9 15.6 23.7 28.7 32.0 32.0 38.8 35.9 84.5 132.1 143.7 148.1 156.8 98.7 265.7 291.2 325.5 318.1 322.3 3

  30. Slide 30: Investment data

    (1) 25 22.5 23.3 20.1 20 18.9 17.6 17.9 15.9 15 10 5 0 2003 3 2004 3 2005 3 2005 6 2005 9 2005 12 2006 3 1 2 2 30 30

  31. Slide 31: Asset management data

    (2) 25 2003 2004 2005 2005 2005 2005 2006 21.0 3 3 3 6 9 12 3 20.2 10.7 11.3 10.8 11.4 11.9 13.4 14.0 20 17.8 3.2 4.5 4.4 5.0 5.0 6.2 6.9 16.8 7.3 6.3 5.6 5.4 5.8 6.0 5.6 15.7 16.0 14.2 0.2 0.4 0.8 0.9 1.1 1.3 1.5 15 3.6 4.4 5.1 5.4 6.0 6.8 7.0 2.9 3.0 3.2 3.3 3.6 3.9 4.0 0.7 1.4 2.0 2.1 2.4 2.9 3.0

  32. Slide 32: Asset management detail

    (3) ( ) 2003 3 2004 3 2005 3 2005 6 2005 9 2005 12 2006 3 3.2 4.5 4.4 5.0 5.0 6.2 6.9 7.3 6.3 5.6 5.4 5.8 6.0 5.6 19% 19% 15% 16% 14% 15% 15% 40% 40% 42% 42% 41% 41% 42% 16.3 23.3 28.9 32.0 34.8 40.8 45.0 18.1 15.8 13.5 13.0 14.0 14.5 13.5 (10 ) 2005 3 2005 6 2005 9 2005 12 2006 3 * 87 130 216 333 5

  33. Slide 33: Major transactions

    4 „ ‡ 2006/1/27 3 1,850 ‡ DWS 2006/2/15 3 1,498 ‡ 2006/3/28 249 ‡ 2006/3/28 145 „ ‡ 3 1 ‡ 30 „ ‡ 5.8 US ‡ 6.1 NZ „ ‡ 1,015 4,700 ‡ SS ‡ 16 144million „ ‡ IPO 800 115 ‡ PO 2,135 1,008 869 T&D 388 ‡ CB 500 300 24 150 ‡ MPO/HPO HPO 2,000 300 17 3,011 ‡ M&A TOB FA 276 835 ‡ IPO 37 33 33

  34. Slide 34: League table rankings

    - 2005 4 1 2006 3 31 2005 4 1 2006 3 31 1 14,118.0 26.0% 130 1 40,043.7 27.0% 134 2 10,379.7 19.1% 89 2 UBS 37,791.5 25.4% 21 3 7,718.7 14.2% 63 3 37,537.9 25.3% 27 4 5,714.6 10.5% 9 4 35,162.2 23.7% 119 5 5,523.0 10.2% 40 5 34,585.5 23.3% 44 6 UBS 3,128.4 5.8% 9 6 KPMG 25,478.9 17.2% 40 7 UFJ 2,229

  35. Slide 35: Market share data

    2006 3 2003 3 2004 3 2005 3 2006 3 1Q 2Q 3Q 4Q 52.0 105.9 144.7 308.3 38.8 64.3 104.3 100.9 16% 10% 8% 7% 7% 7% 7% 6% 33.2 31.9 33.2 48.6 8.8 11.4 14.5 13.9 14.1 19.3 21.1 30.5 4.9 6.6 9.3 9.7 20% 16% 17% 21% 18% 19% 23% 22% 68.1 74.4 80.1 80.7 19.8 22.2 20.2 18.6 15% 16% 18% 11% 11% 10% 9% 15% 1,12

  36. Slide 36: VaR

    „ VaR „ VaR 10 ‡ 2.33 99 ‡ 05.4.1 06.3.31 ‡ 1 ‡ 8.4 ‡ ‡ 3.8 ‡ 5.9 10 2003 3 2004 3 2005 3 2005 6 2005 9 2005 12 2006 3 1.5 3.3 3.0 4.2 3.9 4.4 6.0 2.3 2.0 2.8 3.3 3.1 3.7 3.3 0.2 0.5 0.7 1.0 1.0 1.3 1.4 4.0 5.8 6.5 8.5 8.0 9.4 10.7 -0.9 -1.9 -2.4 -2.9 -2.7 -3.4 -3.7 VaR 3.1 3.9 4.1 5.5 5.3 6.0 7.0 3

  37. Slide 37: Employee data

    2003 3 2004 3 2005 3 2005 6 2005 9 2005 12 2006 3 9,258 9,148 9,190 9,604 9,508 9,395 9,354 1,986 1,915 1,875 1,984 1,930 2,016 1,948 1,389 1,403 1,535 1,524 1,535 1,529 1,515 797 866 1,026 1,069 1,038 1,039 1,073 616 655 718 746 757 769 778 14,046 13,987 14,344 14,927 14,768 14,748 14,668 * 37 37

  38. Slide 38: Nomura Holdings, Inc.

    Nomura Holdings, Inc. www.nomura.com 38 38

Nomura Holdings — FY2005 Earnings Presentation on 6ix