Nomura Holdings, Inc. · TSE:8604
Nomura — Q3 FY2002.3 Earnings Presentation
22 slides from Nomura's earnings presentation, Jan 22, 2003
Slide 1: 2002 Third Quarter Results
2002 3 3 2002 1 1 1
Slide 2: n n Ø 2002 Ø Ø Ø Ø Ø • Ø • Ø •
n n Ø 2002 3 3 Ø Ø Ø Ø Ø • Ø • Ø • • Ø n 2002 3 3 2002 1 22 2 2
Slide 3: NOMURA
NOMURA
Slide 4: Results summary and ROE
2002 3 3 n Ø 4,166 29% Ø 3,612 6% Ø 794 65% Ø 286 79% n Ø 17 9,182 2 6,110 Ø 1 6,294 130 Ø 11.0 12.5 n ROE 2.3% 11.9 4 3/4 4,166 29% 3,612 6% 794 65% 286 79% 2 6,110 17 9,182 130 1 6,294 11.0 ROE 2.3% 11.9% 4
Slide 5: Quarterly net revenue trend
1,400 1,181 1,200 1,011 1,000 2002 3 800 686 3 600 400 367 265 200 143 162 0 FY01.3 FY02.3 1Q 2Q 3Q 4Q 1Q 2Q 3Q 5 5
Slide 6: Brokerage commissions
713 25% n * 25% Ø 65% 1200 1,002 Ø 462 28% 1000 29 21 748 n 800 311 18 Ø 4.1 13% 17 600 251 400 640 200 462 0 FY01.3 (3/4) 01.4-12 * 6 65 4.1 13% 462 28 25 748 6
Slide 7: IPO and PO underwriting
221 35% n IPO PO 13% IPO * 536 600 Ø 6,983 47% Ø 2,568 56% 4 464 500 PO * 1 189 Ø 4,833 80% 400 Ø 1,786 69% 242 300 242 28% n 200 343 100 221 Ø 2001.3 2,192 Ø 2001.4-12 4,381 167% 0 FY01.3 (3/4) 01.4-12 7 * IPO IPO 56 PO 69 221 35 167 242 28 13 464 7
Slide 8: Fees from investment trust distribution
n Ø 18.5 10% Ø 16.6 11% 33% 300 283 Ø 1.0 25% 250 200 190 150 100 50 0 FY01.3 (3/4) 01.4-12 8 16.6 11 25 12 33 190 8
Slide 9: Asset management and portfolio fees
831 24% 1,376 23% n 1400 Ø 178 Ø 1200 1,056 112 • * 2.7 3.1 1000 130 95 n ** 800 Ø 241 408 Ø 359 712 600 1,087 29 336 400 831 313 323 200 n * 0 Ø 13.3 15.6 FY01.3 (3/4) 01.4-12 Ø NAM 13.8 16.0 * 12 3 9 ** N A M 2002 3 3 2001 3 3.6 9 3.1 4,000 336 29 408 241 323 313 831 24 12 13.3 13.8 9
Slide 10: MTN issuance
* n 779 59% 3000 2,589 54% n 280 14% 69 Ø MTN 2500 389 Ø 2000 246 n 1500 1,200 6 135 65% 135 1000 1,885 280 500 779 0 FY01.3 (3/4) 01.4-12 * 10 779 59 MTN 280 14 135 10
Slide 11: IT and other revenue
n 6% Ø 2001.3 2,684 3,842 4000 3,612 Ø 2001.4-12 1,810 10% 211 3500 62 190 267 55 313 3000 478 n IT 187 464 Ø 2001.3 492 2500 216 625 Ø 2001.4-12 413 12% 2000 563 1500 n 1000 2,013 Ø 2001.3 179 1,810 Ø 2001.4-12 101 24% 500 0 FY01.3 (3/4) 01.4-12 11 6 3,612 1,810 10 IT 12 413 24 101 11
Slide 12: Non-interest expenses
n n 2001.4-12 Ø 1,899 1200 1,166 Ø 854 1,091 70% 62% 1,042 1000 60% 970 45% 50% 40% 800 30% 20% 27% 719 697 10% 600 0% FY00.3 FY01.3 01.4-12 FY00.3 (3/4) FY01.3 (3/4) 01.4-12 12 62% 45 12
Slide 13: n Ø Ø n
n Ø Ø n 13 13
Slide 14: Quarterly performance
2002 3 3 2001.4-12 693 700 600 230 500 FY2002.3 3Q 400 300 200 141 80 85 100 21 0 14 14
Slide 15: MMF balances and IPO
n n 30 27.8 26.5 26.9 0.7 25.2 8000 0.6 0.7 24.7 25 0.7 0.7 6,842 7000 5.9 9.0 9.2 20 8.3 8.0 6000 3.3 2.6 5000 15 2.5 2.2 4.8 2.1 5.1 4000 4.9 5.7 5.2 10 3000 2,317 1,920 2000 11.9 1,314 5 9.6 10.4 8.4 8.7 1000 381 0 0 Mar. 00 Mar. 01 Jun. 01 Sep. 01 Dec. 01 FY01.3 FY02.3 3Q 4Q 1Q 2Q 3Q 15 MMF 2001
Slide 16: MMF balances
n NAM n 14 12 12 10 10 2.8 3.9 8 1.8 3.8 2.3 2.3 8 1.8 2.6 5.0 6 3.1 6 4 4 2 2 0 0 Mar.00 Mar.01 Jun.01 Sep.01 Dec.01 Mar.00 Mar.01 Jun.01 Sep.01 Dec.01 MRF MMF MRF MMF 16 11 MMF MMF MMF 9 3.9 12 2.3 MMF 9 2.8 1.8 16
Slide 17: MMF market share
MMF n n 2001 12 2.6 36% 2.5 0.6 2.0 1.8 11 0.3 47% 48% 1.5 1.1 17% 0.7 11 1.0 38% 0.5 0.9 11 0.8 9% 0.0 Nov. 01 Dec. 01 17 MMF MMF MMF 12 47 11 12 MMF 48 9 1 18 MMF MMF 2 1 MMF FFF(Free Financial Fund) 1000 100 17
Slide 18: MTN and CMBS
n n Ø MTN * Ø 15% n Ø CMBS Ø * 15% *2001 4 12 18 15 MTN 18
Slide 19: Quarterly trends
* ** 19% 19% 19% 18% 30 18% 20% 700 655 25 15% 600 20 10% 517 500 16 15 13 5% 14 13 385 11 400 10 0% 288 300 5 -5% 215 216 200 0 -10% 147 120 FY02.3 101 100 3Q 4Q 1Q 2Q 3Q 0 FY00.3 FY01.3 FY02.3 1H 2H 1Q 2Q 3Q 4Q 1Q 2Q 3Q 19 * ** FY00.3 1H 2H 18 147 19
Slide 20: IPO and M&A league tables
n n n M&A 2001.1-12 **** IPO * ** 10 1 94.0 22 37% 19% 2 57.7 61 3 JP 56.6 21 4 SMBC 48.5 34 5 32.5 11 6 28.7 29 * *** 7 25.7 15 8 21.7 82 37% 36% 9 17.5 9 10 17.1 7 * ** 2001.4-12 *** 2001.4-12 **** 20 2001 M&A M&A 2 20
Slide 21: PFG
n PFG n n PFG n n 3 10 n 2002 3 21 10 70 PFG PFG PFG PFG 3 21
Slide 22: TOPIX, ETF and MMF
NAM NAM 40% 25 35% 36% 35% 21.0 19.9 0.2 19.8 30% 18.6 20 0.1 0.2 30% 28% 4.9 0.2 25% 30% 30% 5.6 4.4 14.7 25% 27% 4.6 26% 15 0.0 20% 23% 4.8 21% 20% 10 15% 18% 18% 10.7 13.3 12.9 17% 10.9 7.8 10% 5 5% 3.5 2.6 2.9 2.1 2.4 0 0% Mar. 99 Mar. 00 Mar. 01 Sep. 01 Dec. 01 Mar.99 Mar.00 Mar.01 Sep.01 Dec.0