Nomura Holdings (NMR)

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 July 2012

NOMURA HOLDINGS, INC.

(Translation of registrant’s name into English)

9-1, Nihonbashi 1-chome

Chuo-ku, Tokyo 103-8645

Japan

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F       X             Form 40-F               

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

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Information furnished on this form:

EXHIBIT

 

Exhibit Number
1.		Financial Summary – Three months ended June 2012

The registrant hereby incorporates Exhibit 1 to this report on Form 6-K by reference in the prospectus that is part of Registration Statement on Form F-3 (Registration No. 333-169682) of the registrant and Nomura America Finance, LLC, filed with the Securities and Exchange Commission on September 30, 2010.

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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: July 26, 2012		By:		/s/ EIJI MIURA
				Eiji Miura
				Senior Managing Director

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Financial Summary For the Three Months Ended June 30, 2012 (U.S. GAAP)

 

Date:		July 26, 2012
Company name (code number):		Nomura Holdings, Inc. (8604)
Stock exchange listings:		(In Japan) Tokyo, Osaka, Nagoya
		(Overseas) New York, Singapore
Representative:		Kenichi Watanabe
		Group CEO, Nomura Holdings, Inc.
For inquiries:		Masahide Hoshino
		Managing Director, Investor Relations Department, Nomura Holdings, Inc.
		Tel: (Country Code 81) 3-5255-1000
		URL http://www.nomura.com

1. Consolidated Operating Results

(1) Operating Results

 

		(Rounded to nearest million)
		For the three months ended June 30
		2012								2011
		(Millions of yen, except per share data)
						% Change from June 30, 2011								% Change from June 30, 2010
Total revenue			439,593				2.9	%			427,010				36.0	%
Net revenue			369,254				11.8	%			330,365				27.1	%
Income before income taxes			19,666				(42.8	%)			34,358				431.0	%
Net income attributable to Nomura Holdings, Inc. (“NHI”) shareholders			1,891				(89.4	%)			17,771				665.3	%
Comprehensive income (loss)			(9,720	)			—	%			13,127				—	%
Basic-Net income attributable to NHI shareholders per share (Yen)			0.51								4.93
Diluted-Net income attributable to NHI shareholders per share (Yen)			0.50								4.90
Return on shareholders’ equity – annualized			0.4	%							3.4	%

Note: Return on shareholders’ equity is a ratio of Net income attributable to NHI shareholders to Total NHI shareholders’ equity.

(2) Financial Position

 

		At June 30				At March 31
		2012				2012
		(Millions of yen, except per share data)
Total assets			35,254,342				35,697,312
Total equity			2,388,857				2,389,137
Total NHI shareholders’ equity			2,099,723				2,107,241
Total NHI shareholders’ equity as a percentage of total assets			6.0	%			5.9	%
Total NHI shareholders’ equity per share (Yen)			569.26				575.20

2. Cash dividends

 

		For the year ended March 31
		2013				2012
		(Yen amounts)
Dividends per share
dividends record dates
At June 30			—				—
At September 30			—				4.00
At December 31			—				—
At March 31			—				2.00
For the year			—				6.00

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Notes

(1) Changes in significant subsidiaries during the period: None

      (Changes in Specified Subsidiaries accompanying changes in scope of consolidation.)

(2) Adoption of the simplified and particular accounting treatments: None

(3) Changes in accounting policies

 

a)

Changes due to amendments to the accounting standards : None

b)

Changes due to other than a) : None

(4) Number of shares issued (common stock)

 

		At June 30				At March 31
		2012				2012
Number of shares outstanding (including treasury stock)			3,822,562,601				3,822,562,601
Number of treasury stock			134,019,088				159,078,706

 

		For the three months ended June 30
		2012				2011
Average number of shares outstanding (year-to-date)			3,674,586,163				3,602,382,737

* Quarterly review

The review process of the quarterly consolidated financial statements for this period has not been completed by the external auditors at the point of disclosing this financial summary. As a result of such review, certain of the information set forth herein could be subject to revision, possibly material, in the quarterly securities report for the period ended June 30, 2012, an English translation of which the registrant plans to furnish on Form 6-K in due course.

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Table of Contents for the Accompanying Materials

 

1.    Qualitative Information of the Quarterly Consolidated Results			P.2
(1)    Consolidated Operating Results			P.2
(2)    Consolidated Financial Position			P.5
2.    Notes to the Summary Information			P.5
(1)    Changes in Significant Subsidiaries During the Period			P.5
3.    Quarterly Consolidated Financial Statements			P.5
(1)    Consolidated Balance Sheets			P.6
(2)    Consolidated Statements of Operations			P.8
(3)    Consolidated Statements of Comprehensive Income			P.9
(4)    Note with respect to the Assumption as a Going Concern			P.9
(5)    Segment Information – Operating Segment			P.10
(6)    Significant Changes in Equity			P.11
4.    Supplementary Information			P.12
(1)    Consolidated Statements of Operations – Quarterly Comparatives			P.12
(2)    Business Segment Information – Quarterly Comparatives			P.13
(3)    Unconsolidated Quarterly Financial Statements [Japanese GAAP]			P.14
(4)    Other			P.14

 

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1.	Qualitative Information of the Quarterly Consolidated Results

 

(1)	Consolidated Operating Results

U.S. GAAP

 

		Billions of yen								% Change
		For the three months ended								(A-B)/(B)
		June 30, 2012 (A)				June 30, 2011 (B)
Net revenue			369.3				330.4				11.8
Non-interest expenses			349.6				296.0				18.1
Income (loss) before income taxes			19.7				34.4				(42.8	)
Income tax expense			13.6				16.3				(16.7	)
Net income (loss)			6.1				18.0				(66.3	)
Less: Net income (loss) attributable to noncontrolling interests			4.2				0.3				—
Net income (loss) attributable to NHI shareholders			1.9				17.8				(89.4	)
Return on shareholders’ equity* – annualized			0.4	%			3.4	%			—

 

*	Return on shareholders’ equity is a ratio of Net income (loss) attributable to NHI shareholders to Total NHI shareholders’ equity.

Nomura Holdings, Inc. and its consolidated entities (collectively, “Nomura”) reported Net revenue of 369.3 billion yen for the three months ended June 30, 2012, an increase of 11.8% from the same period in the prior year. Non-interest expenses increased by 18.1% from the same period in the prior year to 349.6 billion yen. Income before income taxes was 19.7 billion yen and Net income attributable to NHI shareholders was 1.9 billion yen for the three months ended June 30, 2012.

Segment Information

 

		Billions of yen								% Change
		For the three months ended								(A-B)/(B)
		June 30, 2012 (A)				June 30, 2011 (B)
Net revenue			375.6				331.6				13.2
Non-interest expenses			349.6				296.0				18.1
Income (loss) before income taxes			26.0				35.6				(27.1	)

In business segment totals, which exclude unrealized gain (loss) on investments in equity securities held for operating purposes, Net revenue for the three months ended June 30, 2012 was 375.6 billion yen, an increase of 13.2% from the same period in the prior year. Non-interest expenses increased by 18.1% from the same period in the prior year to 349.6 billion yen. Income before income taxes was 26.0 billion yen for the three months ended June 30, 2012. Please refer to page 10 for further details of the differences between U.S. GAAP and business segment amounts.

 

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<Business Segment Results>

Operating Results of Retail

 

		Billions of yen								% Change
		For the three months ended								(A-B)/(B)
		June 30, 2012 (A)				June 30, 2011 (B)
Net revenue			82.7				94.2				(12.2	)
Non-interest expenses			70.5				72.2				(2.3	)
Income (loss) before income taxes			12.2				22.0				(44.6	)

Net revenue decreased by 12.2% from the same period in the prior year to 82.7 billion yen, due primarily to decreasing commissions for distribution of investment trusts and brokerage commissions. Non-interest expenses decreased by 2.3% to 70.5 billion yen. As a result, Income before income taxes decreased by 44.6% to 12.2 billion yen.

Operating Results of Asset Management

 

		Billions of yen								% Change
		For the three months ended								(A-B)/(B)
		June 30, 2012 (A)				June 30, 2011 (B)
Net revenue			16.4				18.8				(12.9	)
Non-interest expenses			11.0				11.4				(3.1	)
Income (loss) before income taxes			5.4				7.4				(27.9	)

Net revenue decreased by 12.9% from the same period in the prior year to 16.4 billion yen. Non-interest expenses decreased by 3.1% to 11.0 billion yen. As a result, Income before income taxes decreased by 27.9% to 5.4 billion yen. Assets under management were 23.3 trillion yen at the end of June 2012.

 

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Operating Results of Wholesale

 

		Billions of yen								% Change
		For the three months ended								(A-B)/(B)
		June 30, 2012 (A)				June 30, 2011 (B)
Net revenue			121.9				140.0				(12.9	)
Non-interest expenses			130.4				155.9				(16.3	)
Income (loss) before income taxes			(8.6	)			(15.9	)			—

Note: Certain prior period amounts have been reclassified, in accordance with the realignment in April 2012.

Net revenue decreased by 12.9% from the same period in the prior year to 121.9 billion yen, due primarily to decreasing net gain on trading. Non-interest expenses decreased by 16.3% to 130.4 billion yen. As a result, Loss before income taxes was 8.6 billion yen.

Other Operating Results

 

		Billions of yen								% Change
		For the three months ended								(A-B)/(B)
		June 30, 2012 (A)				June 30, 2011 (B)
Net revenue			154.6				78.6				96.5
Non-interest expenses			137.6				56.6				143.3
Income (loss) before income taxes			17.0				22.1				(23.1	)

Note: Certain prior period amounts have been reclassified, in accordance with the realignment in April 2012.

Net revenue was 154.6 billion yen. Income before income taxes was 17.0 billion yen.

 

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(2)	Consolidated Financial Position

Total assets as of June 30, 2012, were 35.3 trillion yen, a decrease of 443.0 billion yen compared to March 31, 2012, mainly due to the decrease in Securities borrowed. Total liabilities as of June 30, 2012 were 32.9 trillion yen, a decrease of 442.7 billion yen compared to March 31, 2012, mainly due to the decrease in Trading liabilities. Total equity as of June 30, 2012 was 2.4 trillion yen, a decrease of 0.3 billion yen compared to March 31, 2012.

 

2.	Notes to the Summary Information

 

(1)	Changes in Significant Subsidiaries During the Period

Not applicable.

 

3.	Quarterly Consolidated Financial Statements

The quarterly consolidated financial information herein has been prepared in accordance with Nomura’s accounting policies which are disclosed in the notes to the consolidated financial statements of Nomura Holdings, Inc.’s Annual Securities Report (the annual report filed in Japan on June 27, 2012) and Form 20-F (the annual report filed with the U.S. Securities and Exchange Commission on June 27, 2012) for the year ended March 31, 2012.

The review process of the quarterly consolidated financial statements for this period has not been completed by the external auditors.

 

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(1)	Consolidated Balance Sheets (UNAUDITED)

 

		Millions of yen
		June 30, 2012				March 31, 2012				Increase/ (Decrease)
ASSETS
Cash and cash deposits:
Cash and cash equivalents			693,713				1,070,520				(376,807	)
Time deposits			529,809				653,462				(123,653	)
Deposits with stock exchanges and other segregated cash			163,880				229,695				(65,815	)
Total cash and cash deposits			1,387,402				1,953,677				(566,275	)
Loans and receivables:
Loans receivable			1,113,721				1,293,372				(179,651	)
Receivables from customers			127,334				58,310				69,024
Receivables from other than customers			866,230				864,629				1,601
Allowance for doubtful accounts			(4,738	)			(4,888	)			150
Total loans and receivables			2,102,547				2,211,423				(108,876	)
Collateralized agreements:
Securities purchased under agreements to resell			8,194,771				7,662,748				532,023
Securities borrowed			4,802,722				6,079,898				(1,277,176	)
Total collateralized agreements			12,997,493				13,742,646				(745,153	)
Trading assets and private equity investments:
Trading assets*			14,875,983				13,921,639				954,344
Private equity investments			189,180				201,955				(12,775	)
Total trading assets and private equity investments			15,065,163				14,123,594				941,569
Other assets:
Office buildings, land, equipment and facilities (net of accumulated depreciation and amortization of ¥362,638 million at June 30, 2012 and ¥355,804 million at March 31, 2012)			1,049,113				1,045,950				3,163
Non-trading debt securities*			913,356				862,758				50,598
Investments in equity securities*			81,113				88,187				(7,074	)
Investments in and advances to affiliated companies*			195,629				193,954				1,675
Other			1,462,526				1,475,123				(12,597	)
Total other assets			3,701,737				3,665,972				35,765
Total assets			35,254,342				35,697,312				(442,970	)

 

*	Including securities pledged as collateral

 

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		Millions of yen
		June 30, 2012				March 31, 2012				Increase/ (Decrease)
LIABILITIES AND EQUITY
Short-term borrowings			1,244,472				1,185,613				58,859
Payables and deposits:
Payables to customers			972,616				764,857				207,759
Payables to other than customers			350,635				767,860				(417,225	)
Deposits received at banks			870,613				904,653				(34,040	)
Total payables and deposits			2,193,864				2,437,370				(243,506	)
Collateralized financing:
Securities sold under agreements to repurchase			10,932,321				9,928,293				1,004,028
Securities loaned			1,893,186				1,700,029				193,157
Other secured borrowings			869,256				890,952				(21,696	)
Total collateralized financing			13,694,763				12,519,274				1,175,489
Trading liabilities			6,380,840				7,495,177				(1,114,337	)
Other liabilities			1,101,734				1,165,901				(64,167	)
Long-term borrowings			8,249,812				8,504,840				(255,028	)
Total liabilities			32,865,485				33,308,175				(442,690	)
Equity
NHI shareholders’ equity:
Common stock
Authorized     -    6,000,000,000 shares
Issued     -    3,822,562,601 shares at June 30, 2012 and                 3,822,562,601 shares at March 31, 2012
Outstanding     -    3,688,543,513 shares at June 30, 2012 and                          3,663,483,895 shares at March 31, 2012			594,493				594,493				—
Additional paid-in capital			689,130				698,771				(9,641	)
Retained earnings			1,060,836				1,058,945				1,891
Accumulated other comprehensive income (loss)			(160,346	)			(145,149	)			(15,197	)
Total NHI shareholders’ equity before treasury stock			2,184,113				2,207,060				(22,947	)
Common stock held in treasury, at cost -
134,019,088 shares at June 30, 2012 and 159,078,706 shares at March 31, 2012			(84,390	)			(99,819	)			15,429
Total NHI shareholders’ equity			2,099,723				2,107,241				(7,518	)
Noncontrolling interests			289,134				281,896				7,238
Total equity			2,388,857				2,389,137				(280	)
Total liabilities and equity			35,254,342				35,697,312				(442,970	)

 

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(2)	Consolidated Statements of Operations (UNAUDITED)

 

		Millions of yen								% Change
		For the three months ended								(A-B)/(B)
		June 30, 2012 (A)				June 30, 2011 (B)
Revenue:
Commissions			77,367				96,780				(20.1	)
Fees from investment banking			10,383				13,770				(24.6	)
Asset management and portfolio service fees			33,813				39,055				(13.4	)
Net gain on trading			84,399				67,500				25.0
Gain (loss) on private equity investments			(5,387	)			(5,950	)			—
Interest and dividends			103,469				133,087				(22.3	)
Gain (loss) on investments in equity securities			(7,061	)			(597	)			—
Other			142,610				83,365				71.1
Total revenue			439,593				427,010				2.9
Interest expense			70,339				96,645				(27.2	)
Net revenue			369,254				330,365				11.8
Non-interest expenses:
Compensation and benefits			124,573				136,307				(8.6	)
Commissions and floor brokerage			21,978				24,058				(8.6	)
Information processing and communications			42,524				43,547				(2.3	)
Occupancy and related depreciation			24,110				20,692				16.5
Business development expenses			11,329				9,335				21.4
Other			125,074				62,068				101.5
Total non-interest expenses			349,588				296,007				18.1
Income before income taxes			19,666				34,358				(42.8	)
Income tax expense			13,590				16,320				(16.7	)
Net income			6,076				18,038				(66.3	)
Less: Net income attributable to noncontrolling interests			4,185				267				—
Net income attributable to NHI shareholders			1,891				17,771				(89.4	)
		Yen								% Change
Per share of common stock:
Basic-
Net income attributable to NHI shareholders per share			0.51				4.93				(89.7	)
Diluted-
Net income attributable to NHI shareholders per share			0.50				4.90				(89.8	)

 

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(3)	Consolidated Statements of Comprehensive Income (UNAUDITED)

 

		Millions of yen								% Change
		For the three months ended								(A-B)/(B)
		June 30, 2012 (A)				June 30, 2011 (B)
Net income			6,076				18,038				(66.3	)
Other comprehensive income (loss):
Change in cumulative translation adjustments, net of tax			(17,368	)			(6,684	)			—
Defined benefit pension plans:
Pension liability adjustment			3,734				470				694.4
Deferred income taxes			(1,024	)			(197	)			—
Total			2,710				273				892.7
Non-trading securities:
Unrealized gain (loss) on non-trading securities			(390	)			2,348				—
Deferred income taxes			(748	)			(848	)			—
Total			(1,138	)			1,500				—
Total other comprehensive income (loss)			(15,796	)			(4,911	)			—
Comprehensive income (loss)			(9,720	)			13,127				—
Less: Comprehensive income (loss) attributable to noncontrolling interest in subsidiary			3,586				(365	)			—
Comprehensive income (loss) attributable to NHI shareholders			(13,306	)			13,492				—

 

(4)	Note with respect to the Assumption as a Going Concern (UNAUDITED)

Not applicable.

 

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(5)	Segment Information – Operating Segment (UNAUDITED)

The following table shows business segment information and reconciliation items to the consolidated statements of operations.

 

		Millions of yen								% Change
		For the three months ended								(A-B)/(B)
		June 30, 2012 (A)				June 30, 2011 (B)
Net revenue
Business segment information:
Retail			82,711				94,189				(12.2	)
Asset Management			16,418				18,843				(12.9	)
Wholesale			121,883				139,962				(12.9	)
Subtotal			221,012				252,994				(12.6	)
Other			154,567				78,649				96.5
Net revenue			375,579				331,643				13.2
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes			(6,325	)			(1,278	)			—
Net revenue			369,254				330,365				11.8
Non-interest expenses
Business segment information:
Retail			70,523				72,176				(2.3	)
Asset Management			11,048				11,397				(3.1	)
Wholesale			130,434				155,880				(16.3	)
Subtotal			212,005				239,453				(11.5	)
Other			137,583				56,554				143.3
Non-interest expenses			349,588				296,007				18.1
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes			—				—				—
Non-interest expenses			349,588				296,007				18.1
Income (loss) before income taxes
Business segment information:
Retail			12,188				22,013				(44.6	)
Asset Management			5,370				7,446				(27.9	)
Wholesale			(8,551	)			(15,918	)			—
Subtotal			9,007				13,541				(33.5	)
Other*			16,984				22,095				(23.1	)
Income (loss) before income taxes			25,991				35,636				(27.1	)
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes			(6,325	)			(1,278	)			—
Income (loss) before income taxes			19,666				34,358				(42.8	)

 

 

*	Major components

Transactions between operating segments are recorded within segment results on commercial terms and conditions, and are eliminated in “Other”.

The following table presents the major components of income (loss) before income taxes in “Other”.

 

		Millions of yen								% Change
		For the three months ended								(A-B)/(B)
		June 30, 2012 (A)				June 30, 2011 (B)
Net gain (loss) related to economic hedging transactions			(1,231	)			(1,505	)			—
Realized gain (loss) on investments in equity securities held for operating purposes			(736	)			681				—
Equity in earnings of affiliates			1,273				3,475				(63.4	)
Corporate items			6,624				12,618				(47.5	)
Others			11,054				6,826				61.9
Total			16,984				22,095				(23.1	)

Note: Certain reclassifications of previously reported amounts have been made to conform to the current presentation.

 

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(6)	Significant Changes in Equity (UNAUDITED)

Not applicable. For further details of the changes, please refer below.

 

		Millions of yen
		For the three months ended June 30, 2012
Common stock
Balance at beginning of year			594,493
Balance at end of period			594,493
Additional paid-in capital
Balance at beginning of year			698,771
Gain (loss) on sales of treasury stock			(515	)
Issuance and exercise of common stock options			(9,126	)
Balance at end of period			689,130
Retained earnings
Balance at beginning of year			1,058,945
Net income attributable to NHI shareholders			1,891
Balance at end of period			1,060,836
Accumulated other comprehensive income (loss)
Cumulative translation adjustments
Balance at beginning of year			(110,652	)
Net change during the period			(17,156	)
Balance at end of period			(127,808	)
Defined benefit pension plans
Balance at beginning of year			(35,132	)
Pension liability adjustment			2,818
Balance at end of period			(32,314	)
Non-trading securities
Balance at beginning of year			635
Unrealized gain (loss) on non-trading securities			(859	)
Balance at end of period			(224	)
Balance at end of period			(160,346	)
Common stock held in treasury
Balance at beginning of year			(99,819	)
Repurchases of common stock			(1	)
Sale of common stock			0
Common stock issued to employees			15,623
Other net change in treasury stock			(193	)
Balance at end of period			(84,390	)
Total NHI shareholders’ equity
Balance at end of period			2,099,723
Noncontrolling interests
Balance at beginning of year			281,896
Net change during the period			7,238
Balance at end of period			289,134
Total equity
Balance at end of period			2,388,857

 

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4.	Supplementary Information

 

(1)	Consolidated Statements of Operations – Quarterly Comparatives (UNAUDITED)

 

		Millions of yen																				% Change				Millions of yen
		For the three months ended																				(B-A)/(A)				For the year ended March 31, 2012
		June 30, 2011				September 30, 2011				December 31, 2011				March 31, 2012 (A)				June 30, 2012 (B)
Revenue:
Commissions			96,780				85,926				73,983				90,446				77,367				(14.5	)			347,135
Fees from investment banking			13,770				13,819				17,246				14,803				10,383				(29.9	)			59,638
Asset management and portfolio service fees			39,055				36,712				33,398				35,086				33,813				(3.6	)			144,251
Net gain on trading			67,500				25,984				80,147				98,926				84,399				(14.7	)			272,557
Gain (loss) on private equity investments			(5,950	)			(2,315	)			34,551				(1,188	)			(5,387	)			—				25,098
Interest and dividends			133,087				107,288				103,067				92,448				103,469				11.9				435,890
Gain (loss) on investments in equity securities			(597	)			(2,544	)			(2,778	)			9,924				(7,061	)			—				4,005
Other			83,365				112,977				141,887				224,957				142,610				(36.6	)			563,186
Total revenue			427,010				377,847				481,501				565,402				439,593				(22.3	)			1,851,760
Interest expense			96,645				76,258				76,564				66,434				70,339				5.9				315,901
Net revenue			330,365				301,589				404,937				498,968				369,254				(26.0	)			1,535,859
Non-interest expenses:
Compensation and benefits			136,307				142,569				127,783				127,989				124,573				(2.7	)			534,648
Commissions and floor brokerage			24,058				22,939				22,521				23,982				21,978				(8.4	)			93,500
Information processing and communications			43,547				43,544				46,397				43,660				42,524				(2.6	)			177,148
Occupancy and related depreciation			20,692				26,371				26,184				27,644				24,110				(12.8	)			100,891
Business development expenses			9,335				12,333				12,723				14,097				11,329				(19.6	)			48,488
Other			62,068				98,465				134,856				200,838				125,074				(37.7	)			496,227
Total non-interest expenses			296,007				346,221				370,464				438,210				349,588				(20.2	)			1,450,902
Income (loss) before income taxes			34,358				(44,632	)			34,473				60,758				19,666				(67.6	)			84,957
Income tax expense (benefit)			16,320				(373	)			9,923				33,033				13,590				(58.9	)			58,903
Net income (loss)			18,038				(44,259	)			24,550				27,725				6,076				(78.1	)			26,054
Less: Net income attributable to noncontrolling interests			267				1,833				6,728				5,643				4,185				(25.8	)			14,471
Net income (loss) attributable to NHI shareholders			17,771				(46,092	)			17,822				22,082				1,891				(91.4	)			11,583
		Yen																				% Change				Yen
Per share of common stock:
Basic-
Net income (loss) attributable to NHI shareholders per share			4.93				(12.64	)			4.87				6.03				0.51				(91.5	)			3.18
Diluted-
Net income (loss) attributable to NHI shareholders per share			4.90				(12.65	)			4.84				5.92				0.50				(91.6	)			3.14

 

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(2)	Business Segment Information – Quarterly Comparatives (UNAUDITED)

The following table shows quarterly business segment information and reconciliation items to the consolidated statements of operations.

 

		Millions of yen																				% Change				Millions of yen
		For the three months ended																				(B-A)/(A)				For the year ended March 31, 2012
		June 30, 2011				September 30, 2011				December 31, 2011				March 31, 2012 (A)				June 30, 2012 (B)
Net revenue
Business segment information:
Retail			94,189				83,980				79,713				92,376				82,711				(10.5	)			350,258
Asset Management			18,843				15,951				15,301				15,705				16,418				4.5				65,800
Wholesale			139,962				81,570				175,118				158,399				121,883				(23.1	)			555,049
Subtotal			252,994				181,501				270,132				266,480				221,012				(17.1	)			971,107
Other			78,649				122,449				137,267				222,580				154,567				(30.6	)			560,945
Net revenue			331,643				303,950				407,399				489,060				375,579				(23.2	)			1,532,052
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes			(1,278	)			(2,361	)			(2,462	)			9,908				(6,325	)			—				3,807
Net revenue			330,365				301,589				404,937				498,968				369,254				(26.0	)			1,535,859
Non-interest expenses
Business segment information:
Retail			72,176				73,250				69,614				72,088				70,523				(2.2	)			287,128
Asset Management			11,397				11,238				11,058				11,588				11,048				(4.7	)			45,281
Wholesale			155,880				152,223				138,055				146,543				130,434				(11.0	)			592,701
Subtotal			239,453				236,711				218,727				230,219				212,005				(7.9	)			925,110
Other			56,554				109,510				151,737				207,991				137,583				(33.9	)			525,792
Non-interest expenses			296,007				346,221				370,464				438,210				349,588				(20.2	)			1,450,902
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes			—				—				—				—				—				—				—
Non-interest expenses			296,007				346,221				370,464				438,210				349,588				(20.2	)			1,450,902
Income (loss) before income taxes
Business segment information:
Retail			22,013				10,730				10,099				20,288				12,188				(39.9	)			63,130
Asset Management			7,446				4,713				4,243				4,117				5,370				30.4				20,519
Wholesale			(15,918	)			(70,653	)			37,063				11,856				(8,551	)			—				(37,652	)
Subtotal			13,541				(55,210	)			51,405				36,261				9,007				(75.2	)			45,997
Other*			22,095				12,939				(14,470	)			14,589				16,984				16.4				35,153
Income (loss) before income taxes			35,636				(42,271	)			36,935				50,850				25,991				(48.9	)			81,150
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes			(1,278	)			(2,361	)			(2,462	)			9,908				(6,325	)			—				3,807
Income (loss) before income taxes			34,358				(44,632	)			34,473				60,758				19,666				(67.6	)			84,957

 

 

*	Major components

Transactions between operating segments are recorded within segment results on commercial terms and conditions, and are eliminated in “Other”.

The following table presents the major components of income (loss) before income taxes in “Other”.

 

		Millions of yen																				% Change				Millions of yen
		For the three months ended																				(B-A)/(A)				For the year ended March 31, 2012
		June 30, 2011				September 30, 2011				December 31, 2011				March 31, 2012 (A)				June 30, 2012 (B)
Net gain (loss) related to economic hedging transactions			(1,505	)			4,221				7,737				(2,081	)			(1,231	)			—				8,372
Realized gain (loss) on investments in equity securities held for operating purposes			681				(183	)			(316	)			16				(736	)			—				198
Equity in earnings of affiliates			3,475				1,970				1,301				3,867				1,273				(67.1	)			10,613
Corporate items			12,618				(8,616	)			(29,037	)			(7,094	)			6,624				—				(32,129	)
Others			6,826				15,547				5,845				19,881				11,054				(44.4	)			48,099
Total			22,095				12,939				(14,470	)			14,589				16,984				16.4				35,153

Note: Certain reclassifications of previously reported amounts have been made to conform to the current presentation.

 

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(3)	Unconsolidated Quarterly Financial Statements [Japanese GAAP]

Unconsolidated quarterly financial statements have been voluntarily disclosed and prepared based on regulatory rules.

Nomura Holdings, Inc. Unconsolidated Balance Sheets

(UNAUDITED)

 

		Millions of yen
		March 31, 2012				June 30, 2012
Assets
Current Assets			2,782,409				2,808,664
Fixed Assets			2,655,775				2,643,642
Total Assets			5,438,184				5,452,305
Liabilities
Current Liabilities			1,069,394				924,084
Long-term Liabilities			2,527,391				2,648,456
Total Liabilities			3,596,785				3,572,540
Net Assets
Shareholders’ equity			1,719,153				1,758,461
Valuation and translation adjustments			71,654				80,466
Stock acquisition rights			50,592				40,838
Total Net Assets			1,841,400				1,879,765
Total Liabilities and Net Assets			5,438,184				5,452,305

Nomura Holdings, Inc. Unconsolidated Statements of Operations

(UNAUDITED)

 

		Millions of yen
		For the three months ended
		June 30, 2011				June 30, 2012
Operating revenue			53,619				86,591
Operating expenses			52,006				54,671
Operating income			1,613				31,920
Non-operating income			1,664				1,199
Non-operating expenses			1,534				2,441
Ordinary income			1,742				30,677
Special profits			2,167				859
Special losses			3,475				861
Income before income taxes			434				30,675
Income taxes – current			2,589				(2,621	)
Income taxes – deferred			512				1,549
Net income (loss)			(2,667	)			31,748

 

(4)

Other

Quarterly financial information for Nomura Securities Co., Ltd. can be found on the following URL.

http://www.nomuraholdings.com/company/group/nsc/pdf/2013_1q.pdf

 

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