Nomura Holdings Inc ADR American Depositary Shares (NMR) Q4 2025 Earnings Call

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WEBVTT 00:00:01.499 -- 00:00:07.048 Good day, everyone, and welcome to today's Nomura Holdings fourth quarter 00:00:07.048 -- 00:00:12.737 and full year operating result for fiscal year ending March 2025 00:00:12.737 -- 00:00:17.745 conference call. Please be reminded that today's conference 00:00:17.745 -- 00:00:22.492 call is being recorded at the request of the hosting company. 00:00:22.492 -- 00:00:28.060 Should you have any objections, you may disconnect at this point in time. 00:00:28.060 -- 00:00:33.287 During the presentation, all the telephone lines are placed for listen-only 00:00:33.287 -- 00:00:39.737 mode. The question and answer session will be held after the presentation. 00:00:39.737 -- 00:00:44.964 Please note that this telephone conference contains certain forward-looking 00:00:44.964 -- 00:00:50.232 statements and other projected results which involve known and 00:00:50.232 -- 00:00:54.079 unknown risks. delays, uncertainties, 00:00:54.079 -- 00:00:59.665 and other factors not under the company's control which may cause actual 00:00:59.665 -- 00:01:05.352 result, performance, or achievement of the company to be materially different 00:01:05.352 -- 00:01:09.857 from the result, performance, or other expectations 00:01:09.857 -- 00:01:13.079 implied by those predictions. 00:01:13.081 -- 00:01:18.711 Such factors include economic and market conditions, political 00:01:18.711 -- 00:01:23.836 events and investor sentiment, liquidity of secondary market, level 00:01:23.836 -- 00:01:28.981 and volatility of interest rates, currency exchange rates, 00:01:28.981 -- 00:01:34.146 security valuations, competitive conditions and size, number 00:01:34.146 -- 00:01:37.227 and timing of transactions. 00:01:37.389 -- 00:01:41.399 With that, we would like to begin t...