Nomura Holdings, Inc. · TSE:8604
Nomura — FY2014/15 Earnings Presentation
39 slides from Nomura's earnings presentation, May 12, 2015
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 May 2015 NOMURA HOLDINGS, INC. (Translation of registra
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), Fourth quarter and fiscal year ended March 2015
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: May 12, 2015 By: /s/ Hajime Ikeda Hajime Ikeda Senior Man
Slide 4: Consolidated Results of Operations (US GAAP), Fourth quarter and year ended March 2015
Table of Contents Consolidated Fourth (US Nomura April © Nomura GAAP) 2015 quarter, Holdings, Results yearInc. ended of Operations March 2015
Slide 5: Presentation Outline
Table of Contents Executive Presentation Outline Overview Business Non-interest Robust Funding Financial Value Main Consolidated segment Segment Retail Asset Wholesale Numberrevenue Management at (p. related financial risk of and “Other” segment Supplement 6-7) of summary (p. related employees expen
Slide 6: Executive summary
Table of Contents Executive Full Y1,604.2bn Y346.8bn Y224.8bn 8.6% Y60.03 Y13 Retail Asset -Wholesale FY2005/06 Diluted (billions 400.0 Income Net EPS 346.8 55.81 100.0 93.3 107.2 25 28.37 200.0 213.6 224.8 237.7 50 300.0 0.0 28.7 11.6 3.14 7.86 2FY10/11 Although EPS3 Net ROE: EPS3: DPS: Down Retail
Slide 7: Executive summary: segment highlights
Table of Contents Executive 4Q –Net Retail Asset Wholesale -Segment Group-wide income1 Income 113.2 86.9 105.0 72.9 FY2013/14 51.7 1Q (1) All (2)Progress Earnings Solid Contained Booked Net 3(3) highlights 2Q income 88.6 74.0 business revenue: Net Management 3Q revenues before Other one-off loss 82.
Slide 8: Overview of financial results
Table of Contents Overview (billions Highlights FY2014/15 QoQ 4Q Non-interest Income Net EPS2 ROE3 4(1) (2) Full revenue income1 YoY Y22.08 12.1% before year ofYoY Diluted of Net yen, FY2014/15 434.5 expenses results net82.0 8.6% +18% income except +17% +2% income+38% 329.6 attributable taxes EPS +1
Slide 9: Business segment results
Table of Contents Business FY2014/15 (billions 4Q revenue Wholesale Net income before taxes Subtotal Other Unrealized securities Income *Additional Equity 5Loss Full Retail revenue from Wholesale 48.7 *in Asset Retail (loss) -4.0 year Asset 378.3 101.4 of segment earnings held 122.9 changes 231.5 -4
Slide 10: Retail segment results
Table of Contents FY13/ 14 Non-interest taxes Key Full —Third Retail Net Income —Sales product —Costs Initiatives (billions Stocks 0F 1,000 2,000 3,000 4,000 4Q (1) 6(2)Y2013/14 Total15 results 1Q revenue revenue: Stocks: (IPO/POyear points 192.0 client FY14/ Investment as Bond –to Bonds 2Q Impacted
Slide 11: Retail: key metrics
Table of Contents Retail: Mar 72.0 70.0 54.5 60.0 56.0 Discretionary 100.0 115.8 124.9 150.0 50.0 8.7 19.2 Succeeded –Recurring -Client *Figures Sales (billions 32.1 40.0 30.0 11.6 20.0 FY2013/14 0.0 10.0 FY13/14 74Q Reached Retail Net NISA Annualized Discretionary Investment 1Q2016 13.1 65.7 60.4 a
Slide 12: Asset Management results
Table of Contents Asset (billions FY13/ 14 Non-interest taxes Assets (trillions 46.0 40.6 38.2 30.8 34.8 FY2013/14 Mar (1) (3) 8(gross). (4) Key Full Taiwan 4Q Net Income charge15 Total 1Q income revenue Jun 47.5 42.7 37.7 33.0 Continued27.1 Management FY14/ under 2QSep of –discretionary Sales remai
Slide 13: Asset Management: assets under management
Table of Contents Asset Assets (trillions 50.0 40.6 40.0 38.2 9.8 11.4 28.4 20.0 30.0 0.0 10.0 (billions Investment 1,000 501 0-500 90 -1,000 -500 4Q 23.7% share2 24.0% 22.9% FY2013/14 16.0% 18.0% 20.0% 22.0% Mar Morningstar Awards –Best Nomura Division Distribution –Excellent Strategic Thomson –Def
Slide 14: Wholesale results
Table of Contents Wholesale FY13/ 14 Global Investment Non-interest taxes (billions 200.0 250.0 61.4 150.0 47.7 100.0 16.4 31.6 50.0 59.4 FY2013/14 0.0 Key Full —Higher —Income expenses 4Q Net Income All —Rebound Contained Regional Japan EMEA Americas build –AEJ 10Continued Revenues Equities Investm
Slide 15: Wholesale: Global Markets
Table of Contents Wholesale: (billions 166.8 +33% 149.7 59.0 107.7 73.5 FY2013/14 76.3 Key Global strong amid Fixed performance Net –Equities EMEA, FY2014/15 FY13/14 AEJ EMEA Americas EQ FI QoQ YoY +5% Quarter 0% ±5% ±15% Full Japan 4Q Americas: EMEA: in AEJ: Markets Japan: 11Capitalized Rebound Dri
Slide 16: Wholesale: Investment Banking
Table of Contents Wholesale: 55.4 31.7 QoQ 2.2 22.3 29.5 0.0 22.8 -0.4 Key 4Q Net –Chugoku needs 2010 Financial Investment (billions FY2013/14 International +20% Approx. Japan 184.3 193.8 Full Strongest years selective roughly as (IPO) Market —ECM: —DCM: —M&A: Won including product — revenue Solutio
Slide 17: Non-interest expenses
Table of Contents (billions 1,257.4 1,500 400 1,200 expenses depreciation 0brokerage benefits FY2013/14 Compensation Commissions Information Occupancy Business Other Total Key Full (+5% variable brokerage) and 4Q subsidiaries Non-interest (+7% charge –IT investments compensation 13 QoQ 0systems Othe
Slide 18: Robust balance sheet
Table of Contents Robust Balance Shareholders’ Gross Liquidity (net) Basel RWA3 Tier Total Leverage Risk (trillions 20.0 15.0 10.0 5.0 0.0 applied balance Level (estimate) (billions 800 Net 16% 600 0400 200 10% FY2013/14 Mar (1) (3) 140% (4) Net 5.0% Fully leverage1 Level Net 12% 2Jun 12014 20.0% 13
Slide 19: Funding and liquidity
Table of Contents Funding Highly structure marked-to-market trading repos currency) structural –Liquidity portfolio for over Balance (As Liabilities Assets Trading and Cash Other borrowings Total Unsecured More long-term Diversified 17% debt Short-term within 27% subordinated) Long-term market debt,
Slide 20: Financial Supplement
Table of Contents Financial Supplement
Slide 21: Consolidated balance sheets
Table of Contents Consolidated (billions 2014 Assets Trading Long-term equity Noncontrolling Total (1) 17 2015 cash payables loans collateralized trading other NHI assets investments Liabilities liabilities ofand shareholders’ Including (Decrease) borrowings assets and yen) 43,520 assets1 balance ca
Slide 22: Value at Risk
Table of Contents Value Definition -From (billions Mar Equity Interest Foreign Sub-total Diversification VaR 18 Average: 99%Mar 1-day Inter-product Maximum: Minimum: 5.2 April at confidence 1.3 time rate exchange 4.6 risk of Mar 8.0 6.4 1.0 yen) 1, 5.2 3.9 3.1 horizon 9.8 6.2 2014 Jun 1.3 price bene
Slide 23: Consolidated financial highlights
Table of Contents Consolidated Full 300 213.6 attributable ROE(%) (billions Quarter 8.6% 90 5.7% 60 30 03.2% 19.9 FY2013/14 4Q Income Net (“NHI”) ROE Basic-Net Diluted-Net shareholders Total 389.9 88.6 61.3 2,513.7 8.9% 16.48 16.02 676.15 (1) 190%7.3% 52.9 3% 1Q revenue income 8.9% year 6% 51.7 19.9
Slide 24: Consolidated results
Table of Contents Consolidated Full (billions FY2013/14 4Q Commissions Revenue Fees Asset Gain Other Total Interest Non-interest Income Net 20 1Q gain revenue income year from (loss) revenue management 179.5 2Q and expense before of on Quarter investment 3Q on yen) FY2014/15 attributable trading div
Slide 25: Main items: commissions and fees
Table of Contents Mainportfolio Full FY2013/14 (billions Stock Commissions Other Equity Bond Fees investment Asset and Total fees (1) 21 year from 473.1 91.3 168.7 revenue underwriting management brokerage 30.6 underwriting of Quarter M&A 95.1 Figures 46.8 banking yen) 453.4 203.4 FY2014/15 service
Slide 26: Consolidated segment and geographic results
Table of Contents Consolidated Adjustment Retail Asset Wholesale Three Other Segments Unrealized securities Geographic Full (billions 4Q Americas Europe Asia Subtotal Japan Income (1) used 22 Geographic 1Qyear and for Management 20.0 386.3 Business 192.0 2Q -48.9 before business -24.7 of Oceania Qua
Slide 27: Segment Other results
Table of Contents Segment Full (billions 50.0 40.0 2.6 10.0 20.0 30.0 -10.0 0.0 FY2013/14 4Q Net hedging Realized securities Equity Corporate Others Income 23 1Q 2.5 gain year 46.0 34.2 -4.0 8.4 in 2Q (loss) transactions of related gain “Other” Quarter earnings 44.8 held items 4.0 3Q yen) FY2014/15
Slide 28: Retail related data
Table of Contents Full1Q FY2013/14 (billions 4Q Commissions Fees Investment Net Non-interest Income Domestic Bond Stock Foreign Accumulated Other Sales base) Retail (1) 24 interest revenue year from 1,037.0 credit of investment investment related foreign 2Q before investment JGBs of Quarter distribu
Slide 29: Retail related data: commissions
Table of Contents Retail Full 60 90 120 150 180 (billions Quarter 0F 10 20 30 40 QoQ 4Q Stock Commissions (1) Y2013/14 25 1Q year YoY brokerage related 2QofNomura 3Q yen) FY2014/15 data for 4Qcommissions distribution (2) Securities.of and 126.7 investment commissions 92.0 22.6 trusts trusts1 15.8 fo
Slide 30: Retail related data: client assets
Table of Contents Retail (trillions 120 Other 100 80 0F 20 Mar Equities Foreign Domestic Stock Bond Overseas Other2 Total (1) Y2013/14 26 109.5 91.7 Mar 91.7 investment 95.3 investment related client 2.7 currency 53.2 of 91.7 Mar mutual bonds bonds1 104.8 109.5 Including 99.3 4.5 yen) FY2014/15 asse
Slide 31: Retail related data: net inflows
Table of Contents Retail Net Full 1,076 1,500 F (billions Quarter 500 0-1,000 177 FY2013/14 -500 -366 4Q (1) 137 Y2013/14 27 1Q inflows 473 year 997 related 2Q 485 ofCash 3Q yen) FY2014/15 ofdata 4Q cash and(4) and securities securities1 inflows minus outflows, excluding regional financial instituti
Slide 32: Retail related data: accounts and orders
Table of Contents Retail Number Mar Accounts Equity Nomura Net Full FY2013/14 (Thousands) New IT No. Transaction (1) 28 share1 & of year Mar Individual individual related Call orders holding of Home Mar Quarter with Percentage accounts FY2014/15 value FY2013/14 4Q 58% data Jun balance Trade accounts
Slide 33: Asset Management related data
Table of Contents Asset Full (billions Net Non-interest Income Total (trillions 50.0 40.6 40.0 34.8 (gross) AuM (net) FY2013/14 0.0 10.0 Mar (1) 29 Capital. (2) revenue year Mar 47.5 42.7 38.2 2assets 1Management 20.0 Total 30.0 30.8 before of of Mar Quarter 46.0 39.3 yen) yen) FY2014/15 under Net 8
Slide 34: Asset Management: assets under management
Table of Contents Asset FY13/14 Investment business (gross)1 MarMar Technologies Management Group Assets Nomura (trillions Mar Domestic Market Nomura’s (1) (gross). 30 Total Mar Management company under 65.7 14.5 (3) Asset Funds Corporate Private 38.2 MarJun 9.8 assets of FY14/15 Mar public share Ba
Slide 35: Wholesale related data
Table of Contents Wholesale Non-interest Income Breakdown Full FY2013/14 (billions 4Q Fixed Equities Global Other Net Investment 31 1Q revenue year 18.0 Income 2Q Markets before 251.5 of Quarter 3Q related 1.8 yen) Banking FY2014/15 of 765.1 expenses 398.2 4Q Wholesale 2.2 276.2 income 649.7 FY2013/
Slide 36: Wholesale: private equity investments
Table of Contents Wholesale Private (billions 60 70 56.4 40 50 Firma) 0F 10 Mar Japan Europe Asia Sub Terra Total 32 Y2013/14 57.2 Total Mar 1.9 57.2 Firma 20 8.1 30 equity (excluding 56.4 2.1 of Mar 10.6 32.6 56.4 related yen) FY2014/15 24.6 1.9 57.2 Jun related 8.1 32.6 57.2 1.8 23.8 58.8 Sep data
Slide 37: Number of employees
Table of Contents Number FY2013/14 Mar Japan Europe Americas Asia-Pacific1 Total (1) 33 Mar 27,670 (excluding (FA) 3,461 of Mar 2,281 Includes employees 1,888 FY2014/15 28,672 3,485 5,891 Jun 2,449 FA) 1,829 Sep Powai 3,461 6,765 27,670 14,149 2,281 Dec FY2013/14 1,888 3,481 5,891 office Mar 28,920
Slide 38: Disclaimer
Table of Contents Disclaimer Nothing securities or accepted All without This be nature, consider website events Forward-looking The References reliable Morningstar <Disclaimer Although Lipper. sales read rights information consolidated document and are Any in but may (http://www.nomura.com) the in a
Slide 39: Nomura Holdings, Inc.
Table of Contents Nomura Holdings, Inc. www.nomura.com