Edgar Filing: NOMURA HOLDINGS INC

Form 6-K

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 February 2008.

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):

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes No X

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- .

Information furnished on this form:

EXHIBIT

Exhibit Number



1.		Consolidated Results of Operations (US GAAP), Third quarter, year ending March 2008

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: February 1, 2008	By:	/s/ Toshio Hirota
		Toshio Hirota Executive Managing Director

LOGO

Consolidated Results of Operations (US GAAP) Third quarter, year ending March 2008

Nomura Holdings, Inc.

January 2008

LOGO

2. Nothing in this document shall be considered as an offer to sell or solicitation of an offer to buy any security, commodity or other instrument, including securities issued by Nomura or any affiliate thereof. Offers to sell, sales, solicitations to buy, or purchases of any securities issued by Nomura or any affiliate thereof may only be made or entered into pursuant to appropriate offering materials or a prospectus prepared and distributed according to the laws, regulations, rules and market practices of the jurisdictions in which such offers or sales may be made.

3. No part of this document shall be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of Nomura.

4. The information and opinions contained in this document have been obtained from sources believed to be reliable, but no representations or warranty, express or implied, are made that such information is accurate or complete and no responsibility or liability can be accepted by Nomura for errors or omissions or for any losses arising from the use of this information.

5. This document contains statements that may constitute, and from time to time our management may make “forward-looking statements” within the meaning of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. Any such statements must be read in the context of the offering materials pursuant to which any securities may be offered or sold in the United States. These forward-looking statements are not historical facts but instead represent only our belief regarding future events, many of which, by their nature, are inherently uncertain and outside our control. Important factors that could cause actual results to differ from those in specific forward-looking statements include, without limitation, economic and market conditions, political events and investor sentiments, liquidity of secondary markets, level and volatility of interest rates, currency exchange rates, security valuations, competitive conditions and size, and the number and timing of transactions.

6. The consolidated financial information in this document is unaudited.

LOGO

Outline

Presentation

Appendix

Third Quarter Results Key Points (P4)

Net Income and ROE (P17)

Third Quarter Financial Highlights (P5)

Consolidated Income (P18)

Main Revenue Items (P19)

Third Quarter Business Segment Highlights (P6)

Adjustment of Consolidated Results and Segment Results:

Domestic Retail (P7)

Income before Income Taxes (P20)

Global Markets (P8)

Consolidated Balance Sheet (P21)

Global Markets: Topics (P9)

Effect of Consolidation/Deconsolidation of Certain Private Equity

Global Investment Banking (P10)

Investee Companies (Non-interest Expenses) (P22)

Domestic Retail Related Data (P23)

Global Merchant Banking (P11)

Global Merchant Banking Related Data (P27)

Asset Management (P12)

Asset Management Related Data (P28)

Segment “Other” (P13)

ThirdQuarter Achievements (P31)

Non-interest Expenses (Business Segment Total)

League Tables (P32)

(P14)

Market Share Data (P33)

Dividend Policy (P15)

Value at Risk (P34)

Number of Employees (P35)

Full Year

Consolidated Income (Annually)(P37)

Main Revenue Items (Annually)(P38)

Adjustment of Consolidated Results and Segment Results:

Income before Income Taxes Annually (P39)

LOGO

Third Quarter Results Key Points

Investment trust administration fees and other* increased for the 12th straight quarter.

Number one in Global Equity and Equity-related (Japan) and Any Japanese Involvement Financial Advisors (M&A Advisory) CY2007 league tables**.

Third quarter ROE of 4.1% (annualized) mainly due to global financial market turmoil.

* Domestic Retail **Thomson Financial

LOGO

Third Quarter Financial Highlights

Net revenue for the third quarter was 276.1 billion yen (+25.4% QoQ, -14.5% YoY). Income before income taxes was 46.1 billion yen (-65.1% YoY). Net income was 22.6 billion yen (-71.4% YoY). ROE* for the third quarter was 4.1 %.

*Annualized

Net Revenue

(billions of yen)

400

380.7 322.9 30.7 311.3 27.4 300 27.4 276.1 0.3 220.2 31.8 43.7 200 352.7 308.7 283.6 251.4

100 200.0 0 -2.6 -7.1 -13.1 -23.4 FY2007.3 FY2008.3 3Q 4Q 1Q 2Q 3Q

Income before Income Taxes

(billions of yen)

200 132.1 142.8 150 1.3 83.2 100 1.6 0.3 46.1

143.9 147.9 1.7 50 81.2 4.3

51.5 -2.6 0 -13.1 -2.4 -27.3 -7.1 -23.4 -46.5

NetIncome/ROE (Annualized)

(billions of yen)

100

Net Income (lhs)

25%

ROE (annualized, rhs)

80 20% 14.6% 13.7% 60 15%

79.1 40 6.0% 76.7 10% 4.1% 20 5% 33.1 22.6 0 0% -10.5 -1.9% FY2007.3 FY2008.3 3Q

4Q 1Q 2Q 3Q FY2007.3

FY2008.3

3Q 4Q 1Q 2Q 3Q

Unrealized gain (loss) on investments in equity securities held for operating purposes Effect of consolidation / deconsolidation of certain private equity investee companies

Business Segment results

Income before income taxes

Appendix

• Consolidated Income (Quarter): P18

• Adjustment of Consolidated Results and Segment Results: Income before

Income Taxes (Quarter): P20

LOGO

Third Quarter Business Segment Highlights

Net revenue from all business segments for the third quarter was 251.4 billion yen (+25.7% QoQ, -18.6% YoY), and income before income taxes was 51.5 billion yen (-64.2% YoY).

Net Revenue

(billions of yen)

400 352.7 15.4 308.7 26.4 300 283.6 43.4 56.8 15.2 251.4

24.1 15.9 36.7 24.5 26.6 23.2 9.2 200.0 24.1 20.8 200 108.9 37.0 94.6 78.1

23.7 103.2 10.88.5

100 16.8 115.9 124.1 121.8 103.3 98.4 0 -0.9 -10.2

FY2007.3

FY2008.3

3Q 4Q 1Q 2Q 3Q

Income before Income Taxes

(billions of yen)

200 147.9 150 143.9 12.2 43.1

40.1

100

12.2 81.2 6.7 20.7 8.0 10.9 51.5 11.6 26.0 8.6 24.1 -27.3 23.9 5.7 50 7.7 24.4 5.4 46.9 43.3 50.6 32.2 28.5

0 -1.8 -12.3 -5.2 -0.5 -3.4 -67.7

-50 -3.9 -1.0


FY2007.3			FY2008.3
3Q	4Q	1Q	2Q	3Q

Appendix

• Domestic Retail :P7

• Global Markets :P8

• Global Investment Banking :P10

• Global Merchant Banking :P11

• Asset Management :P12

• Segment “Other” :P13

• Adjustment of Consolidated Results and Segment Results: Income before Income Taxes (Quarter):P20

Other

Asset Management Global Merchant Banking Global Investment Banking Global Markets Domestic Retail

LOGO

Domestic Retail: Domestic Client Asset net asset inflow remained firm

Net revenue was 98.4 billion yen (-4.7% QoQ, -15.1% YoY). Income before income taxes was 28.5 billion yen (-11.5% QoQ, -39.2% YoY).

Domestic Client Assets declined by 3 trillion yen from the end of September to 81.3 trillion yen at the end of December due to the stock market decline.

Net asset inflow was 900 billion yen. The number of accounts with balance increased by 51,000* to 4.12 million accounts.

Investment trust administration fees and other increased for twelfth straight quarter to 15.5 billion yen.

Commissions for distribution of investment trusts** declined 11.1% QoQ to 31.4 billion yen, while stock brokerage commissions fell 8.3% QoQ to 18.7 billion yen.

Net Revenue and Income before Income Taxes

Full Year

Quarter

(billions of yen)

500 150 446.5

Net interest revenue

124.1 121.8 400 115.9

Investment trust

440.1 103.3 98.4

administration fees

305.8 304.4 100

and other

300

Fees from investment

249.3

banking

197.2

Sales credit

200 50

Commissions

160.9 50.6 46.9 43.3 100 35.7 32.2

Income before income

79.5 81.2 28.5

taxes

0 0

FY2007.3 FY2008.3 FY2003.3 FY2004.3 FY2005.3 FY2006.3 FY2007.3

Q oQ YoY 3Q 4Q 1Q 2Q 3Q

Commissions 104.1 155.2 174.0 269.4 251.4 63.6 73.9 68.4 62.4 55.8 -10.5% -12.3%

Sales credit

95.7 97.8 73.7 109.0 96.8 26.7 26.2 33.2 20.5 21.6 5.4% -19.0%

Fees from investment banking

15.0 26.1 24.5 26.4 24.0 8.9 5.1 3.4 3.3 3.6 9.1% -59.4%

Investment trust administration fees and other

32.0 21.8 26.1 34.4 47.5 12.1 13.4 14.7 15.3 15.5 1.4% 27.9%

Net interest revenue

2.4 4.9 6.1 7.4 20.4 4.5 5.5 2.2 1.7 1.8 5.7% -60.1%

Net revenue 249.3 305.8 304.4 446.5 440.1 115.9 124.1

121.8 103.3 98.4 -4.7% -15.1%

Non-interest expenses

213.6 226.2 223.2 249.3 279.3 69.0 80.8 71.3 71.1 69.9 -1.6% 1.3%

Income before income taxes

35.7 79.5 81.2 197.2 160.9 46.9 43.3 50.6 32.2 28.5 \-11.5% -39.2%

Appendix:

• Retail stock brokerage commissions, commissions for distribution of investment trusts, domestic distribution volume of investment trusts, retail foreign currency bond sales, etc: P23

• Domestic Client Assets: P24

• Domestic Client Assets Net Asset Inflow: P25

• Number of Accounts: P26

• Third Quarter Achievements:P31

LOGO

Global Markets: Significant recovery from previous quarter

Net revenue was 103.2 billion yen (6.2x QoQ, +32.2% YoY). Income before income taxes was 24.4 billion yen (+1.1% YoY).

In Fixed Income, interest rate and currency-linked derivative trading in Japan and Europe was solid.

In Equity, stock trading was strong, equity derivative trading in Europe was solid, and revenue from Instinet was firm.

Net Revenue and Income before Income Taxes

Other

Equity

Fixed Income

Income before income taxes

Full Year

Quarter

(billions of yen)

400 371.1 108.9 120 94.6 103.2 284.1 290.0 300 78.1 90 236.0 243.1 200 60 24.4 100 157.7 16.8 30 120.8 93.6 58.8 24.1 23.9 26.0

60.2 0 0 -30 -60 -67.7

Appendix

• Third Quarter Achievements: P31

• Market Share Data: P33

• Value at Risk : P34

FY2007.3 FY2008.3 FY2003.3 FY2004.3 FY2005.3 FY2006.3 FY2007.3 Q oQ Y oY 3Q 4Q 1Q 2Q 3Q

Fixed Income

154.0 174.0 119.8 173.8 123.1 51.8 21.8 42.4 -40.6 32.3 — -37.7%

Equity

82.0 110.2 90.2 168.5 147.9 23.3 66.6 61.9 58.1 68.0 17.2% 192.1%

Other

0.0 0.0 33.1 28.8 19.1 3.0 6.2 4.6 -0.7 2.9 — -1.0%

Net revenue

236.0 284.1 243.1 371.1 290.0 78.1 94.6 108.9 16.8 103.2 515.8% 32.2%

Non-interest expenses

142.4 163.3 182.9 213.4 231.2 53.9 70.6 82.9 84.5 78.8 -6.7% 46.2%

Income before income taxes

93.6 120.8 60.2 157.7 58.8 24.1 23.9 26.0 -67.7 24.4 — 1.1%


						FY2007.3			FY2008.3
	FY2003.3	FY2004.3	FY2005.3	FY2006.3	FY2007.3						Q oQ	Y oY
						3Q	4Q	1Q	2Q	3Q
Fixed Income	154.0	174.0	119.8	173.8	123.1	51.8	21.8	42.4	-40.6	32.3	—	-37.7%
Equity	82.0	110.2	90.2	168.5	147.9	23.3	66.6	61.9	58.1	68.0	17.2%	192.1%
Other	0.0	0.0	33.1	28.8	19.1	3.0	6.2	4.6	-0.7	2.9	—	-1.0%
Net revenue	236.0	284.1	243.1	371.1	290.0	78.1	94.6	108.9	16.8	103.2	515.8%	32.2%
Non-interest expenses	142.4	163.3	182.9	213.4	231.2	53.9	70.6	82.9	84.5	78.8	-6.7%	46.2%
Income before income taxes	93.6	120.8	60.2	157.7	58.8	24.1	23.9	26.0	-67.7	24.4	—	1.1%

Notes 1: In April 2004, Fixed Income, Equity and certain functions of Investment Banking were consolidated to create Global Markets.

2: Figures up to FY2004.3 are the total of Fixed Income and Equity and differ slightly in composition.

LOGO

Global Markets: Topics

US Mortgage Finance Business-related Exposure

US RMBS Business

US RMBS-related exposure* = Approx. 7.5bn yen

With flexible hedging operations, booked slight loss in 3Q

US CMBS Business

US CMBS-related exposure* = Approx. 170bn yen

Monoline Exposure

Effective exposure* is approx. 37bn yen

(Exposure* = approx. 79bn yen, Protection* = approx. 42bn yen)

* As of end of December 2007

LOGO

Global Investment Banking: Top ranking in Equity and Equity-related and M&A Advisory league tables* Net revenue was 20.8 billion yen (+92.0% QoQ, -13.8% YoY). Income before income taxes was 5.7 billion yen (-47.6% YoY). In equity finance, we acted as lead manager for Sony Financial Holdings’ large IPO and other deals. In M&A, we acted as financial advisor on a tender offer by Japan Tobacco for Katokichi, and on the management integration of TIS and INTEC Holdings. *Jan.-Dec. 2007 (Japan related), Thomson Financial Net Revenue and Income before Income Taxes

Full Year Quarter (billions of yen) (billions of yen)

160 36.7 40 120 30 26.6 99.7 99.2 24.1 20.7 20.8 75.4 20 80 69.1 70.9 51.5 44.4 10.9 11.6 10.8 29.2 40 5.7 10 12.8 17.2 0 0 -3.9

Net revenue Income before income taxes Appendix • Third Quarter Achievements: P31 • League Tables: P32 • Market Share Data: P33


						FY2007.3			FY2008.3
	FY2003.3	FY2004.3	FY2005.3	FY2006.3	FY2007.3						QoQ	YoY
						3Q	4Q	1Q	2Q	3Q
Net revenue	69.1	70.9	75.4	99.7	99.2	24.1	26.6	36.7	10.8	20.8	92.0%	-13.8%
Non-interest expenses	56.4	53.7	46.2	48.1	54.8	13.2	15.0	16.0	14.7	15.0	2.0%	14.2%
Income before income taxes	12.8	17.2	29.2	51.5	44.4	10.9	11.6	20.7	-3.9	5.7	—	-47.6%

Note: In April 2004, Fixed Income, Equity and certain functions of Investment Banking were consolidated to create Global Markets.

LOGO

Global Merchant Banking:

Net revenue was -10.2 billion yen. Income before income taxes was -12.3 billion yen.

Unrealized losses and gains booked due to valuation at fair value of certain investee companies in Europe.

Net Revenue and Income before Income Taxes

Net revenue

Income before income taxes

Full Year

Quarter

(billions of yen)

80 60 68.2 65.0 43.4 60 45 52.8 40 55.4 40.1 30 20 9.2 15 10.7 8.5 7.3 -6.6 -0.9 0 5.4 0 0.5 6.7 -10.2 -3.0 -5.2 -15.3 -12.3

Appendix

• Effect of consolidation / deconsolidation of certain PE investee companies (Non-interest Expenses) : P22

• Business exposure: P27

FY2007.3

FY2008.3

FY2003.3

FY2004.3

FY2005.3

FY2006.3

FY2007.3

QoQ

YoY

3Q 4Q 1Q 2Q 3Q

Net revenue

-6.6 10.7 7.3 68.2 65.0 9.2 -0.9 43.4 8.5 -10.2 — —

Non-interest expenses

8.6 10.2 10.4 12.8 12.2 2.6 4.2 3.3 3.0 2.1 -29.6% -16.5%

Income before income taxes

-15.3 0.5 -3.0 55.4 52.8 6.7 -5.2 40.1 5.4 -12.3 — —

LOGO

Asset Management: Strong sales of newly-launched funds such as the Nomura New Global High Interest Rate Currencies Fund

Net revenue was 23.2 billion yen (-2.0% QoQ, -5.4% YoY). Income before income taxes was 8.6 billion yen (+12.3% QoQ, -29.1% YoY). Total assets under management remained roughly unchanged from end of September at 29.7 trillion yen*.

Net assets in funds for bank customers** declined approximately 241.0 billion yen from the end of September to 1.9 trillion yen, while net assets in funds distributed through Japan Post Bank increased approximately 7.0 billion yen to 575.9 billion yen*.

Sales of Nomura Global High Interest Rate Currencies Fund and newly-launched Nomura New Global High Interest Rate Currencies Fund were strong.

*As of end of December 2007 **Excludes Japan Post Bank and Nomura Trust & Banking

Net Revenue and Income before Income Taxes

Net revenue

Income before income taxes

Full Year

Quarter

(billions of yen)

100 30 90.1 26.4 24.5 24.1 23.7 25 23.2 80 65.8 20 60 49.0 12.2 12.2 15 40.4 40.3 36.5 40 8.0 7.7 8.6 10 20.6 20 10.0 5 4.0 0.5 0 0

Appendix

• Assets Under Management: P28,29

• Asset Management Related Data: P30

FY2007.3

FY2008.3

FY2003.4

FY2004.3

FY2005.3

FY2006.3

FY2007.3

QoQ

YoY

3Q 4Q 1Q 2Q 3Q

Net revenue

40.4 40.3 49.0 65.8 90.1 24.5 24.1 26.4 23.7 23.2 -2.0% -5.4%

Non-interest expenses

36.3 39.8 39.0 45.2 53.6 12.4 16.1 14.2 16.0 14.6 -8.8% 17.9%

Income before income taxes

4.0 0.5 10.0 20.6 36.5 12.2 8.0 12.2 7.7 8.6 12.3% -29.1%

Note: In January 2006, certain functions of Other business were integrated into Asset Management. Certain reclassifications of previously reported amounts have been made to conform to the current presentation.

LOGO

Segment “Other”

“Other” income before income taxes was -3.4 billion yen.

Income before Income Taxes

Full Year Quarter (billions of yen) (billions of yen)

60 60 43.1 40 Approximately 34 billion yen

40 23.9

related to IPO of Nomura Real Estate Holdings

10.1 20 7.0 -0.5 0 0 -1.8 -1.0 -3.4 -20 -40 -30.5 -41.6 -60

FY2007.3 FY2008.3 FY2003.3 FY2004.3 FY2005.3 FY2006.3 FY2007.3 Q o Q

Y o Y 3Q 4Q 1Q 2Q 3Q

Net gain/loss on trading related to -6.2 -12.8 -9.7 -64.8 -38.4 -11.9 -1.1 -14.4 2.8 0.4 -87.0% —

econom ic hedging transactions

Realized gain on investm ents in equity

1.7 1.2 6.9 8.4 18.1 13.0 0.3 2.1 -0.8 0.1 — -99.0%

securities held for operating purposes

Equity in earnings of affiliates

-3.8 8.5 7.3 27.8 53.2 39.0 4.7 5.1 2.6 -5.2 — —

Corporate item s

-9.4 -10.7 4.5 -7.4 -11.1 -5.9 -1.8 -9.7 -12.3 -11.8 — — Others* -23.9 20.7 1.0 5.4 2.1 8.9 -2.6 15.1 6.6 13.1 97.7% 46.5%

Incom e before incom e taxes

-41.6 7.0 10.1 -30.5 23.9 43.1 -0.5 -1.8 -1.0 -3.4 — —

*Businesses not included in the five business divisions (Joinvest Securities, Nomura Trust & Banking, etc.) are included in Others. FY2003.3 includes 21.2 billion yen of impairment loss on investment of affiliates.

LOGO

Non-interest Expenses (Business Segment Total)

Non-interest expenses (business segment total) were 199.9 billion yen (-12.1% QoQ, +21.3% YoY).

Other

Business development expenses Occupancy and related depreciation Information processing and communications Commissions and floor brokerage

Compensation and benefits Full Year Quarter

(billions of yen)

800 250 227.3 680.5 202.3 204.9 199.9 607.8 200 600 521.4 164.8 150 400 100 200 50 0 0

Compensation and Benefits

Full Year

Quarter

(billions of yen)

350 331.0 311.3 300 264.7

Fixed-type compensation and benefits

250 173.4 160.7

Variable-type compensation and

200

benefits 151.1

150 93.5 100.7 94.4 93.4 100 82.8 150.5 157.6 47.9 47.9

48.6 47.8 41.9 113.6 50 45.6 52.8 45.8 45.6 40.9 0 FY2007.3

FY2008.3 FY2005.3 FY2006.3 FY2007.3

3Q 4Q 1Q 2Q 3Q

FY2007.3

FY2008.3

FY2005.3

FY2006.3

FY2007.3

QoQ

YoY

Compensation and benefits

264.7

311.3

331.0

82.8

93.5

100.7

94.4

93.4

-1.1%

12.8%

Commissions and f loor brokerage

22.1

31.4

49.8

11.8

18.1

22.7

22.6

20.4

-9.7%

73.5%

Information processing and communications

80.9

89.1

109.5

27.2

32.0

29.2

34.7

33.9

-2.4%

24.7%

Occupancy and related depreciation

50.8

57.4

13.5

17.6

15.9

15.1

14.3

-5.8%

5.3%

Business dev elopment expenses

26.2

30.6

35.3

8.4

10.4

8.8

9.9

9.5

-4.2%

12.0%

Other

76.6

94.7

97.5

21.1

30.8

27.6

50.6

28.5

-43.7%

35.2%

Total

521.4

607.8

680.5

164.8

202.3

204.9

227.3

199.9

-12.1%

21.3%

Note: All non-interest expense figures shown on this slide exclude the effect of consolidation/deconsolidation of certain private equity investee companies.

See P22 for more details.

Appendix

• Effect of Consolidation / Deconsolidation of Certain PE Investee Companies (Non-interest Expenses): P22

• Number of Employees: P35

LOGO

Dividend Policy

•Target Dividend

Minimum level of cash dividend, paid quarterly since FY2007.3

•Additional Payout

When a sufficient level of profit is achieved, an additional payout

is added to the fiscal year-end dividend taking into consideration

a pay-out ratio of over 30%

•Full-year Consolidated

Additional payout

Payout Ratio Over 30%

Target dividend

(based on DOE of 3%)

Recent Dividends (per share)

(yen)

Total

Payout Ratio

FY2006.3

Target Dividend

—

30%

Additional Payout

—

FY2007.3

Target Dividend

48%

Additional Payout

—

FY2008.3

Target Dividend

8.5

34+a

—

Additional Payout

—

Total Return Ratio*

(billions of yen)

FY2006.3

FY2007.3

Target vidend Di

Additional Payout

Share Buyback

Total

141

Total Return Ratio

46%

48%

*Total Return Ratio = (Total dividend amount + Share buyback amount) /

Net income

LOGO

Appendix

LOGO

Net Income and ROE

Full Year

1-3Q

(billions of yen)

400

20%

15.5%

300

15%

304.3

10.1%

8.3%

200

10%

7.4%

Net income (lhs)

172.3

5.2%

5.4%

175.8

ROE (rhs)

100

119.9

94.7

88.9

FY2008.3

FY2003.3

FY2004.3

FY2005.3

FY2006.3

FY2007.3

1-3Q

Net income (lhs)

119.9

172.3

94.7

304.3

175.8

88.9

ROE (rhs)

7.4%

10.1%

5.2%

15.5%

8.3%

5.4% *

Basic net income per share (yen)

61.26

88.82

48.80

159.02

92.25

46.57

Shareholders’ equity per share (yen)

846.40

919.67

962.48

1,083.19

1,146.23

1,170.50

*Annualized

LOGO

Consolidated Income (Quarter / 1-3Q)

(billions of yen)

Quarter

1-3Q

FY2007.3

FY2008.3

FY2007.3

FY2008.3

QoQ

YoY

1-3Q

Revenue

Com m issions

79.6

66.1

84.2

107.6

113.0

106.9

103.4

-3.2%

22.9%

229.8

323.3

40.7%

Fees from investm ent banking

14.4

26.9

32.3

25.7

29.9

16.2

20.3

25.7%

-37.1%

73.6

66.4

-9.7%

Asset m anagem ent and portfolio service

29.7

35.5

36.7

44.0

47.3

50.9

47.6

-6.4%

29.7%

101.9

145.9

43.1%

fees

Net gain on trading

55.8

47.5

89.2

97.5

99.7

7.5

65.1

764.4%

-27.0%

192.5

172.3

-10.5%

Gain (loss) on private equity investm ents

9.8

27.5

10.2

0.1

45.8

17.8

-4.7

—

47.5

59.0

24.1%

Interest and dividends

207.9

232.3

262.9

278.2

294.7

246.0

176.8

-28.1%

-32.8%

703.1

717.5

2.0%

Gain (loss) on investm ents in equity

-20.5

-0.0

-0.2

0.6

-0.5

-24.2

-7.0

—

-20.7

-31.7

—

securities

Private equity entities product sales

21.0

21.7

28.8

28.6

36.5

34.3

33.9

-1.4%

17.6%

71.5

104.7

46.4%

Other

4.2

11.7

45.4

6.1

16.4

9.0

-2.8

—

61.3

22.6

-63.1%

Total revenue

401.7

469.2

589.5

588.6

682.7

464.5

432.8

-6.8%

-26.6%

1,460.5

1,579.9

8.2%

Interest expense

195.8

218.2

266.6

277.3

302.0

244.3

156.7

-35.9%

-41.2%

680.7

702.9

3.3%

Net revenue

205.9

251.0

322.9

311.3

380.7

220.2

276.1

25.4%

-14.5%

779.8

877.0

12.5%

Non-interest expenses

172.5

177.9

190.8

228.1

237.9

266.7

230.0

-13.7%

20.5%

541.2

734.6

35.7%

Incom e before incom e taxes

33.4

73.1

132.1

83.2

142.8

-46.5

46.1

—

-65.1%

238.6

142.5

-40.3%

Net incom e

20.1

43.5

79.1

33.1

76.7

-10.5

22.6

—

-71.4%

142.7

88.9

-37.7%

LOGO

Main Revenue Items (Quarter / 1-3Q)

(billions of yen)

Quarter

1-3Q

FY2007.3

FY2008.3

FY2007.3

FY2008.3

QoQ

YoY

1-3Q

Stock brokerage commissions (Domestic Retail)

28.0

18.8

22.6

28.9

22.2

20.4

18.7

-8.3%

-17.3%

69.4

61.2

-11.8%

Stock brokerage commissions (Other)

13.8

11.8

17.4

30.2

40.3

40.6

44.5

9.4%

154.9%

43.1

125.4

190.9%

Other brokerage commissions

2.7

1.9

0.2

1.7

3.7

2.4

-35.6%

21.4%

6.6

7.7

16.9%

Commissions

Commissions for distribution of investment trusts

25.8

23.1

33.0

38.5

39.2

34.2

30.6

-10.6%

-7.2%

81.9

104.0

26.9%

Other

9.2

10.3

9.3

9.8

9.6

8.0

7.4

-8.0%

-20.6%

28.8

25.0

-13.2%

Total

79.6

66.1

84.2

107.6

113.0

106.9

103.4

-3.2%

22.9%

229.8

323.3

40.7%

Equity underw riting and distribution

6.3

16.2

19.4

14.7

7.8

6.8

11.3

66.4%

-41.8%

41.8

25.8

-38.2%

Fees from

Bond underw riting and distribution

2.9

4.2

6.7

1.5

2.6

3.6

2.9

-19.1%

-56.8%

13.8

9.1

-33.9%

Investment

M&A/Financial adv isory fees

5.2

6.4

6.1

9.1

18.2

5.7

1.0%

-5.5%

17.6

29.6

68.1%

Banking

Other

0.0

0.2

0.1

0.4

1.3

0.1

0.4

274.2%

269.7%

0.3

1.8

475.1%

Total

14.4

26.9

32.3

25.7

29.9

16.2

20.3

25.7%

-37.1%

73.6

66.4

-9.7%

Asset

Asset management fees

21.7

23.9

28.4

32.2

38.7

39.6

38.7

-2.2%

36.4%

74.0

117.1

58.2%

Management

Administration fees

4.5

7.8

4.4

7.2

4.2

6.5

4.6

-29.3%

4.1%

16.8

15.3

-8.5%

and Portfolio

Custodial fees

3.6

3.7

3.9

4.6

4.4

4.8

4.3

-10.1%

10.0%

11.2

13.4

20.5%

Service Fees

Total

29.7

35.5

36.7

44.0

47.3

50.9

47.6

-6.4%

29.7%

101.9

145.9

43.1%

Bonds and other

26.7

34.4

60.0

33.7

47.8

-21.5

44.7

—

-25.6%

121.1

71.0

-41.4%

Equity

31.7

12.7

28.9

64.3

51.7

28.2

25.6

-9.3%

-11.6%

73.3

105.5

43.8%

Net Gain on

Trading*

Merchant banking

-2.6

0.4

0.2

-0.5

0.2

0.9

-5.1

—

-2.0

-4.1

—

Net interest revenue

12.1

14.1

-3.7

0.9

-7.3

1.8

20.1

1,033.5%

—

22.4

14.6

-34.8%

Total

67.8

61.6

85.5

98.4

92.4

9.3

85.2

815.7%

-0.3%

214.9

186.9

-13.0%

*Includes net interest revenue

LOGO

Adjustment of Consolidated Results and Segment Results: Income before Income Taxes (Quarter / 1-3Q)

(billions of yen)

Quarter

1-3Q

FY2007.3

FY2008.3

FY2007.3

FY2008.3

QoQ

YoY

1-3Q

Domestic Retail

42.5

28.2

46.9

43.3

50.6

32.2

28.5

-11.5%

-39.2%

117.6

111.3

-5.4%

Global Markets

14.3

-3.6

24.1

23.9

26.0

-67.7

24.4

—

1.1%

34.9

-17.2

—

Global Investment

5.6

16.3

10.9

11.6

20.7

-3.9

5.7

—

-47.6%

32.8

22.5

-31.2%

Banking

Global Merchant Banking

9.8

41.5

6.7

-5.2

40.1

5.4

-12.3

—

58.0

33.2

-42.7%

Asset Management

5.2

11.1

12.2

8.0

12.2

7.7

8.6

12.3%

-29.1%

28.5

0.2%

5 Business Segment Total

77.5

93.4

100.8

81.7

149.6

-26.3

54.9

—

-45.5%

271.6

178.3

-34.4%

Other

-23.0

4.3

43.1

-0.5

-1.8

-1.0

-3.4

—

24.4

-6.2

—

Segment Total

54.4

97.7

143.9

81.2

147.9

-27.3

51.5

—

-64.2%

296.0

172.1

-41.9%

Unrealized gain (loss) oninvestm ents in equity securities

-20.6

-4.8

-13.1

0.3

-2.6

-23.4

-7.1

—

-38.6

-33.2

—

held for operating purposes

Effect ofconsolidation/deconsolidation of

-0.4

-19.8

1.3

1.6

-2.4

4.3

1.7

-60.9%

27.8%

-18.9

3.6

—

certain private equity investee

Total

33.4

73.1

132.1

83.2

142.8

-46.5

46.1

—

-65.1%

238.6

142.5

-40.3%

Note: We operate five business divisions: Domestic Retail, Global Markets, Global Investment Banking, Global Merchant Banking and Asset Management. Gain (loss) on investments in equity securities, our share of equity in the earnings (losses) of affiliates, impairment losses on long-lived assets, corporate items and other financial adjustments are included as “Other” operating results outside business segments in our segment information. Unrealized gain (loss) on investments held for operating purposes and the effects of consolidation and deconsolidation of certain investments in our private equity business are classified as reconciling items outside our segment information.

LOGO

Consolidated Balance Sheet

Collateralized agreements, Collateralized financing and Trading assets and private equity investments declined due to the reduction of fixed income positions in conjunction with initiatives to focus on core businesses in U.S.

(billions of yen)

Mar. 31, 2007

Dec. 31, 2007

% Change

Mar. 31, 2007

Dec. 31, 2007

% Change

Assets

Liabilities

Cash and cash deposits

1,054

1,490

41.4%

Short-term borrowings

1,094

1,268

16.0%

Payables and deposits

1,346

1,359

1.0%

Loans and receivables

1,618

1,890

16.8%

Collateralized financing

20,599

9,480

-54.0%

Trading liabilities

4,800

5,006

4.3%

Collateralized agreements

17,838

8,593

-51.8%

Other liabilities

846

815

-3.6%

Long-term borrowings

5,003

5,944

18.8%

Trading assets and private equity investments

13,178

11,874

-9.9%

Total liabilities

33,687

23,872

-29.1%

Shareholders’ equity

Other assets

2,185

2,258

3.4%

Total shareholders’ equity

2,186

2,235

2.2%

Total assets

35,873

26,106

-27.2%

Total liabilities and shareholders’ equity

35,873

26,106

-27.2%

LOGO

Effect of Consolidation/Deconsolidation of Certain Private Equity Investee Companies (Non-interest Expenses)

(billions of yen)

Full Year

Quarter

FY2007.3

FY2008.3

FY2005.3

FY2006.3

FY2007.3

Compensation and benefits

275.0

325.4

345.9

82.8

79.1

86.7

97.4

105.6

97.7

97.1

Fixed-type compensation and benefits

159.6

170.4

182.8

43.8

44.3

50.4

50.8

51.1

50.1

Segment total

151.1

160.7

173.4

41.7

41.9

47.9

48.6

47.8

Private equity investee companies

8.5

9.7

9.4

2.1

2.4

2.5

2.9

2.5

2.3

Variable-type compensation and benefits

115.4

155.0

163.1

39.0

34.8

42.4

47.0

54.8

46.6

46.9

Segment total

113.6

150.5

157.6

37.7

33.4

40.9

45.6

52.8

45.8

45.6

Private equity investee companies

1.8

4.5

5.5

1.2

1.4

1.5

1.4

2.0

0.8

1.3

Commissions and floor brokerage

23.9

32.9

50.8

10.3

12.0

18.2

23.0

23.3

19.5

Segment total

22.1

31.4

49.8

9.8

10.1

11.8

18.1

22.7

22.6

20.4

Private equity investee companies

1.8

1.5

1.0

0.4

0.2

0.1

0.3

0.8

-0.9

Information processing and communications

81.4

89.6

110.0

23.2

27.4

27.3

32.1

29.3

34.9

34.0

Segment total

80.9

89.1

109.5

23.0

27.3

27.2

32.0

29.2

34.7

33.9

Private equity investee companies

0.5

0.2

0.1

0.2

Occupancy and related depreciation

53.5

55.0

61.3

14.4

13.7

14.6

18.5

17.4

16.4

15.7

Segment total

50.8

57.4

13.4

12.9

13.5

17.6

15.9

15.1

14.3

Private equity investee companies

2.7

4.3

3.9

1.0

0.9

1.1

0.9

1.5

1.3

1.4

Business development expenses

28.2

32.8

38.1

7.8

9.8

9.2

11.2

9.6

10.5

10.1

Segment total

26.2

30.6

35.3

7.2

9.2

8.4

10.4

8.8

9.9

9.5

Private equity investee companies

2.0

2.2

2.8

0.6

0.8

0.6

0.7

Other

87.6

115.4

106.0

22.7

25.7

23.6

34.1

30.1

62.7

32.7

Segment total

76.6

94.7

97.5

22.4

23.3

21.1

30.8

27.6

50.6

28.5

Private equity investee companies

11.0

20.8

8.5

0.3

2.4

2.5

3.4

2.4

12.1

4.2

Private equity entities cost of goods sold

44.7

48.8

57.2

11.4

11.8

17.4

16.6

22.9

21.2

20.8

Total non-interest expenses

594.4

700.1

769.3

172.5

177.9

190.8

228.1

237.9

266.7

230.0

Segment total

521.4

607.8

680.5

155.3

158.0

164.8

202.3

204.9

227.3

199.9

Private equity investee companies

73.0

92.2

88.9

17.2

19.9

26.0

25.8

33.0

39.4

30.2

Note: In accordance with SFAS No. 144 “Accounting for the Impairment or Disposal of Long-Lived Assets,” net revenue and non-interest expenses from operations that were treated as discontinued during the fiscal year ended March 31, 2006, are separately reported as income from discontinued operations.

LOGO

Domestic Retail Related Data (1)

Full Year

Quarter

FY2007.3

FY2008.3

FY2003.3

FY2004.3

FY2005.3

FY2006.3

FY2007.3

Stock brokerage commissions (billions of yen)

48.2

92.1

103.0

153.6

98.3

28.0

18.8

22.6

28.9

22.2

20.4

18.7

Commissions for distribution of investment trusts* (billions of yen)

34.9

46.9

49.9

95.9

124.7

28.0

23.9

33.7

39.1

39.6

35.4

31.4

Bond investment trusts commission

16.9

11.1

6.4

3.5

2.3

0.6

0.7

0.5

0.4

0.3

Stock investment trusts commission

11.6

21.5

31.6

74.2

114.5

23.2

22.1

32.3

36.9

37.3

32.9

30.1

Foreign investment trusts commission

6.4

14.2

11.9

18.2

7.9

4.2

1.1

0.9

1.7

1.9

2.2

1.1

Domestic distribution volume of investment trusts* (trillions of yen)

11.9

13.7

14.2

20.5

21.4

5.0

4.7

5.6

6.2

6.3

5.5

4.9

Bond investment trusts

8.6

10.1

10.4

14.3

14.4

3.3

3.0

3.9

4.3

3.6

3.3

Stock investment trusts

1.3

1.6

2.3

4.5

6.0

1.3

1.4

1.6

1.7

1.5

1.2

Foreign investment trusts

2.1

1.4

1.7

1.0

0.3

0.2

0.3

0.4

0.3

Other (billions of yen)

Outstanding value of annuity insurance policies (end of the period)

166.6

261.6

446.4

683.3

990.4

791.0

861.1

927.3

990.4

1,063.4

1,114.8

1,165.3

Sales of JGBs for individual investors (transaction base)

101.3

1,271.6

1,290.6

747.8

615.2

189.0

187.3

130.4

108.5

159.7

68.4

41.4

Retail foreign currency bond sales

2,284.7

1,990.0

1,154.4

1,119.2

677.1

166.4

195.9

184.5

130.2

129.9

154.1

286.9

* Nomura Securities

LOGO

Domestic Retail Related Data (2)

Domestic Client Assets*

Other***

Overseas mutual funds Bond investment trusts Stock investment trusts Domestic bonds**

Foreign currency bonds Equities

(trillions of yen)

100

85.2

88.3

84.3

80.5

81.3

61.2

54.8

40.6

Mar.31, 2003

Mar.31, 2004

Mar.31, 2005

Mar.31, 2006

Mar.31, 2007

Jun.30, 2007

Sep.30, 2007

Dec.31, 2007

Equities

17.1

28.9

33.5

49.3

48.5

49.8

45.9

43.3

Foreign currency bonds

3.7

4.0

3.6

3.3

3.1

3.0

2.9

Domestic bonds**

8.5

10.0

11.8

13.1

16.4

16.9

17.2

17.1

Stock investment trusts

2.2

3.0

3.3

5.3

7.4

8.5

8.7

Bond investment trusts

6.5

5.5

4.9

4.5

4.7

5.0

4.7

4.6

Overseas mutual funds

1.1

1.6

1.9

2.3

2.0

1.9

Other***

1.6

1.7

1.9

2.3

2.9

3.0

2.9

2.8

Total

40.6

54.8

61.2

80.5

85.2

88.3

84.3

81.3

* Domestic Client Assets = Total of client assets in custody in Domestic Retail (including regional financial institutions) and Financial Management Division

** Includes CBs and warrants

*** Includes variable annuity insurance

LOGO

Domestic Retail Related Data (3) Domestic Client Assets Net Asset Inflow *

Full Year

Quarter

(billions of yen)

8,000

6,749

5,975

6,000

4,581

4,000

3,391

1,788

1,687

2,000

1,582

897

FY2008.3

FY2003.3

FY2004.3

FY2005.3

FY2006.3

FY2007.3

1Q 2Q 3Q

*Domestic Client Assets excludes portion from regional financial institutions Note: Net Asset Inflow = Asset Inflow – Asset Outflow

LOGO

Domestic Retail Related Data (4) Number of Accounts* / IT Share**

(thousands)

Mar. 31,2003 Mar. 31,2004 Mar. 31,2005 Mar. 31,2006 Mar. 31,2007 Jun. 30,2007 Sep. 30,2007 Dec. 31,2007 Accounts with balance 3,418 3,460 3,678 3,780 3,953 4,002 4,066 4,117 Equity holding accounts 1,311 1,379 1,680 1,745 1,853 1,877 1,932 1,969 Nomura Home Trade (online trading accounts) 1,141 1,367 1,716 1,969 2,243 2,340 2,575 2,686

Full Year

Quarter

FY2008.3

FY2003.3 FY2004.3 FY2005.3 FY2006.3 FY2007.3

1Q 2Q 3Q New accounts (individual) (thousands) 237 297 425 343 417 135 162 148 IT share**

No. of orders 41% 49% 52% 55% 55% 57% 58% 57% Transaction value 14% 22% 24% 27% 27% 27% 29% 29%

* Total of Domestic Retail and Financial Management Division

**IT share is the percentage of trades via Nomura Home Trade and Telephone Answer comprising the total of cash stock transactions and kabushiki-mini-toshi (odd lot stock investment)

LOGO

Global Merchant Banking Related Data Business Exposure Terra Firma Europe (excluding Terra Firma) Japan

(billions of yen) 600 543.4 546.8 500 457.6 439.1 412.7 421.0 400 375.7 301.6 300 231.2 219.6 202.7 209.6 200 132.1 98.7 84.5 100 35.9 0


	Mar. 31,2003	Mar. 31,2004	Mar. 31,2005	Mar. 31,2006	Mar. 31,2007	Jun. 30,2007	Sep. 30,2007	Dec. 31,2007
Japan	20.1	68.9	108.4	59.9	195.5	183.9	168.4	172.0
Europe (excluding Terra Firma)	15.9	15.6	23.7	38.8	35.7	35.7	34.3	37.6
Sub Total	35.9	84.5	132.1	98.7	231.2	219.6	202.7	209.6
Terra Firma	265.7	291.2	325.5	340.4	312.2	327.1	210.0	211.4
Total	301.6	375.7	457.6	439.1	543.4	546.8	412.7	421.0

Notes: 1. Amount of exposure in Japan is total of Nomura Principal Finance (NPF), Nomura Financial Partners (NFP), Nomura Research & Advisory (NR&A) and others.

2. Amount of exposure in Europe (excluding Terra Firma) is total of Private Equity Group (PEG) and Nomura Phase4 Ventures (NPV). 27

LOGO

Asset Management Related Data (1) Total Assets Under Management (trillions of yen)

30.6

30.3

29.7

27.0

23.1

17.9

17.6

15.9

Mar. 31, 2003 Mar. 31, 2004 Mar. 31, 2005 Mar. 31, 2006 Mar. 31, 2007 Jun. 30, 2007 Sep. 30, 2007 Dec. 31, 2007

Notes: 1. Total assets under management of Nomura Asset Management, Nomura Corporate Research and Asset Management, Nomura Funds Research and Technologies, MAINTRUST KAG, and Nomura Funds Research and Technologies America. Adjusted for asset overlap amongst group companies. Data until March 31, 2006, include Nomura BlackRock Asset Management. 2. Nomura Funds Research and Technologies America data as of end of Nov. 2007. 28

LOGO

Asset Management Related Data (2) Nomura Asset Management Assets Under Management 25

30 25.9 29.2 28.9 27.9 20 14.2 15.7 16.0 21.0

15 10 5 0

Mar. 31 2003 Mar. 31 2004 Mar. 31 2005 Mar. 31 2006 Mar. 31 2007 Jun. 30 2007 Sep. 30 2007 Dec. 31 2007

Public stock investment trusts Public bond investment trusts Privately placed investment trusts Domestic investment advisory Overseas investment advisory

(trillions of yen)

Assets Under Management

Mar. 31

Jun. 30

Sep. 30

Dec. 31

2003

2004

2005

2006

2007

Investment trusts

10.7

11.3

10.8

14.0

18.8

22.0

20.6

19.8

Public stock investment trusts

3.2

4.5

4.4

6.9

10.8

13.3

12.4

11.9

Public bond investment trusts

7.3

6.3

5.6

5.8

6.2

5.8

5.7

Privately placed investment trusts

0.2

0.4

0.8

1.5

2.2

2.4

2.3

Investment advisory

3.6

4.4

5.1

7.0

7.1

7.3

8.3

8.1

Domestic investment advisory

2.9

3.0

3.2

4.0

3.7

3.9

5.0

Overseas investment advisory

0.7

1.4

2.0

3.0

3.4

3.3

3.1

Total

14.2

15.7

16.0

21.0

25.9

29.2

28.9

27.9

Net Asset Inflows Full Year FY2003.3 FY2004.3 FY2005.3 FY2006.3

FY2007.3

Quarter 1Q

FY2008.3 2Q

Public stock investment trusts

0.8

0.1

-0.1

1.0

3.8

2.0

0.0

0.2

Exclude ETF

0.2

-0.1

0.2

1.4

3.7

1.2

0.7

0.1

Public bond investment trusts

-3.1

-1.0

-0.7

0.0

0.2

0.5

-0.4

-0.1

Privately placed investment trusts

0.1

0.3

0.5

0.7

0.2

0.0

Net Asset Inflows

-2.2

-0.7

-0.5

1.5

4.6

2.6

-0.4

0.0

LOGO

Asset Management Related Data (3) Domestic Public Investment Trust Market and Nomura Asset Management Market Share AUM of Products Supplied to Banks and Japan Post Bank

AUM in Key Funds (trillions of yen)

Mar. 31, 2003

Mar. 31, 2004

Mar. 31, 2005

Mar. 31, 2006

Mar. 31, 2007

Jun. 30, 2007

Sep. 30, 2007

Dec. 31, 2007

Stock investment trusts

3.2

4.5

4.4

6.9

10.8

13.3

12.4

11.9

Nomura Asset

Bond investment trusts

7.3

6.3

5.6

5.8

6.2

5.8

5.7

Management

Public stock investment trusts, Nomura’s share (%)

19%

15%

18%

20%

18%

Public bond investment trusts, Nomura’s share (%)

40%

42%

44%

45%

44%

Stock investment trusts

16.3

23.3

28.9

45.0

59.4

67.9

67.5

66.8

Market Total

Bond investment trusts

18.1

15.8

13.5

13.2

14.1

12.9

13.0

Source: Investment Trusts Association, Japan (billions of yen)

Mar. 31, 2005

Mar. 31, 2006

Mar. 31, 2007

Jun. 30, 2007

Sep. 30, 2007

Dec. 31, 2007

Banks*

330

791

1,935

2,191

2,124

1,882

Japan Post Bank (Japan Post)

425

537

569

576

*Excludes Japan Post Bank and Nomura Trust & Banking. Figure for March 31, 2007, has been reclassified based on estimation method used for June 30, 2007

My Story Profit Distribution-type Fund

454

1,537

1,955

2,099

2,115

Global REIT Open

307

684

735

668

520

Nomura Global Six Assets Diversified Fund

333

414

435

441

Nomura Global High Interest Rate Fund Currencies

209

419

Global Attractive Dividend Stock Fund (Monthly)

411

504

463

383

Nomura Global All Stars

263

324

314

292

Asia Attractive Dividend Stock Fund

341

413

389

288

Global High Income Stock Fund

180

271

308

288

Nomura New Global High Interest Rate Currencies Fund

246

Nomura Japan-US REIT Fund

348

388

339

281

LOGO

Third Quarter Achievements Domestic Retail Global Markets Global Investment Banking Joinvest Securities

Newly-launched Investment Trusts

Nomura New Global High Interest Rate Currencies Fund (launched 11/27/2007) AUM as of 12/31/2007 : 244.6

billion yen

Existing Investment Trusts

Nomura Global High Interest Rate Currencies Fund

Oct-Dec sales :

Approx. 200 billion yen

Schroders Latin America Stock Fund

Oct-Dec sales :

Approx. 130 billion yen

New Bond Issues

Toyota Motor Credit Corporation (euro AUD bond)

Issue amt.: AUD 930 million (total of SB and step-up bond)

Large International Bond Underwritings

European Investment Bank: 5 billion euros

Equity Derivatives: Completed 22 fund derivative contracts (total amount: approx. 507 million euros)

Loan-related Business: Approx. 69.3 billion yen

Nomura Capital Investment (NCI): Total of approx. 61.3 billion yen

Major Deals

IPO

Sony Financial Holdings: 348 billion yen

REIT

Industrial & Infrastructure Fund Investment Corp.: 38 billion yen

M&A

Tender offer by Japan Tobacco for Katokichi: 175 billion yen

Management integration of TIS and INTEC Holdings: 147 billion yen

Tender offer by Asahi Breweries for Asahi Soft Drinks: 54 billion yen

2006

2007

June

September

December

March

June

September

December

Number of Accounts

40,156

61,554

75,562

129,516

166,387

183,267

205,668

Margin Trading Accounts

1,224

3,182

5,805

9,054

11,272

13,519

15,873

Monthly Transaction Value (millions of yen)

54,919

177,096

316,303

591,354

699,710

573,236

695,415

Margin Transaction Value

19,472

100,698

191,666

386,363

453,191

405,078

499,429

Assets in Custody (millions of yen)

47,754

113,301

171,540

256,215

319,248

342,276

364,367

LOGO

League Tables

Global Equity & Equity-related (Japan)

Jan. 1, 2007 - Dec. 31, 2007

Bookrunner

Proceeds

No. of

Mkt. Share

(USD mil)

Deals

Nomura

10,378.8

40.9%

Daiwa Securities SMBC

2,584.9

10.2%

Nikko Citi

2,515.5

9.9%

Mitsubishi UFJ Financial Group

2,493.9

9.8%

JP Morgan

2,300.8

9.1%

Mizuho Financial Group

1,529.3

6.0%

Morgan Stanley

1,243.8

4.9%

Merrill Lynch

612.0

2.4%

Shinko Securities

456.6

1.8%

UBS

437.3

1.7%

Any Japanese Involvement Financial Advisors

Announced deals, value base

Jan. 1, 2007

- Dec. 31, 2007

Advisor

Rank Value

No. of

Mkt. Share

(USD mil)

Deals

Nomura

34,495.4

22.4%

155

Citi

23,032.6

15.0%

GCA

21,966.5

14.3%

Merrill Lynch

21,133.8

13.7%

Goldman Sachs

18,965.2

12.3%

Mitsubishi UFJ Financial Group

18,386.2

11.9%

113

Morgan Stanley

17,502.7

11.4%

Mizuho Financial Group

16,020.8

10.4%

101

Daiwa Securities SMBC

15,096.1

9.8%

130

JP Morgan

14,032.3

9.1%

Global & Euro Yen Bonds

Jan. 1, 2007 - Dec. 31, 2007

Bookrunner

Proceeds

No. of

Mkt. Share

(JPY mil)

Issues

Nikko Citi

1,424,757.2

23.5%

Morgan Stanley

730,336.5

12.0%

Deutsche Bank

445,612.0

7.3%

Daiwa Securities SMBC

367,739.8

6.1%

Nomura

320,152.0

5.3%

Barclays Capital

271,079.1

4.5%

Merrill Lynch

268,859.8

4.4%

BNP Paribas

255,970.0

4.2%

Mitsubishi UFJ Financial Group

235,812.8

3.9%

Bank of America Securities

230,000.0

3.8%

Source: Thomson Financial

LOGO

Market Share Data

(trillions of yen)

Full Year

Quarter

FY2008.3

FY2003.3

FY2004.3

FY2005.3

FY2006.3

FY2007.3

Individual Equity Agency Transactions Share

Market

52.0

105.9

144.7

308.3

270.2

67.2

62.9

52.3

Nomura Securities’ share

16%

10%

Off-floor/Off-exchange Equity Trading Share

Off-floor market

33.2

31.9

33.2

48.6

48.2

13.4

11.4

11.0

Secondary Market

Off-exchange

14.1

19.3

21.1

30.5

42.8

14.2

11.8

11.7

Share Data

Nomura Securities’ share

20%

16%

17%

21%

22%

19%

JGB Auction Share

Market

68.1

74.4

80.1

80.7

85.3

21.7

21.2

21.5

Nomura Securities’ share

15%

16%

18%

11%

Bond Secondary Trading Share

Market

1,129

1,235

1,361

1,296

1,341

353

386

387

Nomura Securities’ share

14%

16%

15%

13%

11%

10%

FY2008.3

FY2003.3

FY2004.3

FY2005.3

FY2006.3

FY2007.3

1-3Q

(accumulated)

Global Equity and Equity-related Japan

Nomura’s share

30%

25%

26%

33%

39%

Japanese IPO

Nomura’s share

11%

27%

32%

20%

21%

47%

Japanese PO

Primary Market

Nomura’s share

50%

33%

25%

27%

40%

43%

Share Data

Convertible Bonds

Nomura’s share

13%

28%

19%

34%

18%

Global and Euro Yen Bonds

Nomura’s share

21%

31%

23%

Straight Bonds, Lead Manager (excl. self-funding)

Nomura’s share

26%

19%

17%

18%

14%

17%

Source: Thomson Financial (Value base)

LOGO

Value at Risk

Definition

From April 2, 2007 to December 31, 2007 (billions of yen)

99% confidence level (2.33 standard dev.)

Maximum:

7.8

1-day time horizon for outstanding portfolio

Minimum:

4.6

Inter-product price fluctuations considered

Average:

5.8

(billions of yen)

End of the period

Mar. 2003

Mar. 2004

Mar. 2005

Mar. 2006

Mar. 2007

Jun. 2007

Sep. 2007

Dec. 2007

Equity

1.5

3.3

3.0

6.0

4.6

4.7

3.3

3.8

Interest Rate

2.3

2.0

2.8

3.3

3.7

3.5

3.2

2.4

Foreign Exchange

0.2

0.5

0.7

1.4

2.4

2.6

4.2

Sub-total

4.0

5.8

6.5

10.7

9.8

10.6

9.1

10.4

Diversification Benefit

-0.9

-1.9

-2.4

-3.7

-3.6

-4.2

-3.5

-5.0

VaR

3.1

3.9

4.1

7.0

6.2

6.4

5.6

5.4

LOGO

Number of Employees

Mar. 2003

Mar. 2004

Mar. 2005

Mar. 2006

Mar. 2007

Dec. 2007

Japan (excluding FA, SA)*

9,285

9,185

9,236

9,618

10,667

11,685

Japan (FA, SA)

1,986

1,915

1,875

1,948

2,174

2,415

Europe

1,389

1,403

1,535

1,515

1,791

1,912

Americas

797

866

1,026

1,073

1,322

1,118

Asia/Oceania

616

655

718

778

900

1,046

Total

14,073

14,024

14,390

14,932

16,854

18,176

Note: Headcount figures have been reclassified to include certain contract employees since September 2007.

Certain reclassifications of previously reported amounts have been made to conform to the current presentation. *Excludes employees of private equity investee companies

LOGO

Full Year

LOGO

Consolidated Income (Annually)

(billions of yen)

FY2003.3

FY2004.3

FY2005.3

FY2006.3

FY2007.3

Revenue

Commissions

141.6

210.2

222.0

356.3

337.5

Fees from investment banking

81.8

87.0

92.3

108.8

99.3

Asset management and portfolio service fees

79.3

66.2

78.5

102.7

146.0

Net gain on trading

172.3

229.0

201.7

304.2

290.0

Gain (loss) on private equity investments

-14.4

13.1

7.7

12.3

47.6

Interest and dividends

368.7

343.3

401.4

693.8

981.3

Gain (loss) on investments in equity securities

-41.3

55.9

15.3

67.7

-20.1

Private equity entities product sales

6.2

17.6

75.1

88.2

100.1

Other

13.4

23.6

32.3

58.8

67.4

Total revenue

807.7

1,045.9

1,126.2

1,792.8

2,049.1

Interest expense

241.4

242.8

327.0

647.2

958.0

Net revenue

566.3

803.1

799.2

1,145.7

1,091.1

Non-interest expenses

518.9

520.4

594.4

700.1

769.3

Income from continuing operations before income taxes

47.4

282.7

204.8

445.6

321.8

Income from discontinued operations before income taxes

—

99.4

—

Income before income taxes

47.4

282.7

204.8

545.0

321.8

Net income from continuing operations

119.9

172.3

94.7

256.6

175.8

Net income from discontinued operations

—

47.7

—

Net income

119.9

172.3

94.7

304.3

175.8

LOGO

Main Revenue Items (Annually)

(billions of yen)

FY2003.3

FY2004.3

FY2005.3

FY2006.3

FY2007.3

Stock brokerage commissions (Domestic Retail)

48.2

92.1

103.0

153.6

98.3

Stock brokerage commissions (Other)

29.3

45.4

40.2

79.5

73.2

Other brokerage commissions

7.6

12.2

13.0

14.3

6.8

Commissions

Commissions for distribution of investment trusts

30.5

37.3

41.7

85.1

120.5

Other

26.0

23.2

24.1

23.8

38.6

Total

141.6

210.2

222.0

356.3

337.5

Equity underwriting and distribution

24.6

44.7

49.1

57.3

56.6

Fees from

Bond underwriting and distribution

37.0

26.4

20.5

21.2

15.3

Investment

M&A/Financial advisory fees

16.8

15.8

22.6

30.3

26.7

Banking

3.4

0.1

0.7

Other

Total

81.8

87.0

92.3

108.8

99.3

Asset

Asset management fees

60.2

44.2

51.1

68.5

106.3

Management

Administration fees

10.0

12.1

16.1

20.6

24.0

and Portfolio

9.1

9.9

11.3

13.6

15.7

Custodial fees

Service Fees

Total

79.3

66.2

78.5

102.7

146.0

Bonds and other

133.6

152.3

120.9

150.9

154.9

Equity

35.9

75.2

76.8

148.1

137.6

Net Gain on

Trading*

Merchant banking

2.8

1.5

4.0

5.2

-2.5

Net interest revenue

127.3

100.4

74.3

46.6

23.3

Total

299.6

329.4

276.0

350.8

313.4

*Includes net interest revenue

LOGO

Adjustment of Consolidated Results and Segment Results: Income before Income Taxes (Annually)(billions of yen)

FY2003.3

FY2004.3

FY2005.3

FY2006.3

FY2007.3

Domestic Retail

35.7

79.5

81.2

197.2

160.9

Global Markets

93.6

120.8

60.2

157.7

58.8

Global Investment Banking

12.8

17.2

29.2

51.5

44.4

Global Merchant Banking

-15.3

0.5

-3.0

55.4

52.8

Asset Management

4.0

0.5

10.0

20.6

36.5

5 Business Segment Total

130.8

218.5

177.5

482.5

353.3

Other

-41.6

7.0

10.1

-30.5

23.9

Segment Total

89.2

225.5

187.6

452.0

377.3

Unrealized gain (loss) on investments in equity

-43.0

54.7

8.4

59.3

-38.2

securities held for operating purposes

Effect of consolidation/deconsolidation of certain

1.2

2.4

8.9

-65.7

-17.3

private equity investee companies

Income from continuing

47.4

282.7

204.8

445.6

321.8

operations before income taxes

Income from discontinued

US GAAP

—

99.4

—

operations before income taxes

Total

47.4

282.7

204.8

545.0

321.8

Notes:1. In accordance with SFAS No. 144 “Accounting for the Impairment or Disposal of Long-Lived Assets,” net revenue and non-interest expenses from operations that were treated as discontinued during the fiscal year ended March 31, 2006, are separately reported as income from discontinued operations.

2. In April 2005, Global Wholesale was reorganized into Global Markets, Global Investment Banking and Global Merchant Banking. 3. In April 2004, Fixed Income, Equity and certain functions of Investment Banking were consolidated to create Global Markets.

4. Global Markets figures up to FY2004.3 are the total of Fixed Income and Equity and differ slightly in composition from those of FY2005.3 onward.

5. In January 2006, certain functions of Other business were integrated into Asset Management. Certain reclassifications of previously reported amounts have been made to conform to the current presentation.

LOGO

Nomura Holdings, Inc.