Edgar Filing: NOMURA HOLDINGS INC

FORM 6-K/A

FORM 6-K/A

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 2014

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):

Information furnished on this form:

EXHIBIT


Exhibit Number

1.		Financial Summary – Nine months ended December 31, 2013 (Amended)

The registrant hereby incorporates Exhibit 1 to this report on Form 6-K/A by reference in the prospectus that is part of Registration Statement on Form F-3 (Registration No. 333-191250) of the registrant and Nomura America Finance, LLC, filed with the Securities and Exchange Commission (the “SEC”) on September 19, 2013.

EXPLANATORY NOTE: The registrant furnished to the SEC a report on Form 6-K on January 30, 2014. The registrant is furnishing this Form 6-K/A in order to replace Exhibit 1 “Financial Summary – Nine months ended December 31, 2013” furnished on Form 6-K on January 30, 2014 with Exhibit 1 to this report. Certain figures in Exhibit 1 to this report have been amended to correct a mistake in the calculation of the number of shares of Nomura Holdings, Inc. common stock held as treasury stock.

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 30, 2014	By:	/s/ Hajime Ikeda
		Hajime Ikeda
		Managing Director

Financial Summary For the Nine Months Ended December 31, 2013 (U.S. GAAP)


Date:		January 30, 2014
Company name (code number):		Nomura Holdings, Inc. (8604)
Stock exchange listings:		(In Japan) Tokyo, Nagoya
		(Overseas) New York, Singapore
Representative:		Koji Nagai
		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 nine months ended December 31
	2012					2013
	(Millions of yen, except per share data)
	% Change from					% Change from
	December 31, 2011					December 31, 2012
Total revenue		1,359,800		5.7	%		1,381,070		1.6	%
Net revenue		1,160,019		11.9	%		1,167,132		0.6	%
Income before income taxes		68,048		181.2	%		273,046		301.3	%
Net income attributable to		24,812		—	%		152,335		514.0	%
Nomura Holdings, Inc. (“NHI”) shareholders
Comprehensive income		41,121		—	%		244,770		495.2	%
Basic-Net income attributable to NHI shareholders per share (Yen)		6.73					41.09
Diluted-Net income attributable to NHI shareholders per share (Yen)		6.60					39.83
Return on shareholders’ equity – annualized		1.5	%				8.5	%

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

(2) Financial Position


	At March 31			At December 31
	2013			2013
	(Millions of yen, except per share data)
Total assets		37,942,439			43,634,418
Total equity		2,318,983			2,528,466
Total NHI shareholders’ equity		2,294,371			2,492,494
Total NHI shareholders’ equity as a percentage of total assets		6.0	%		5.7	%
Total NHI shareholders’ equity per share (Yen)		618.27			670.88

2. Cash dividends


	For the year ended March 31
	2013		2014		2014(Plan)
	(Yen amounts)
Dividends per share
Dividends record dates
At June 30		—		—		—
At September 30		2.00		8.00		—
At December 31		—		—		—
At March 31		6.00		—		Unconfirmed
For the year		8.00		—		Unconfirmed

Note: Fiscal year 2014 Q4 dividend amount is not presented per reasons stated in “3. Earnings forecasts for the year ending March 31, 2014”.

3. Earnings forecasts for the year ending March 31, 2014

Nomura provides investment, financing and related services in the capital markets on a global basis. In the global capital markets there exist uncertainties due to, but not limited to, economic and market conditions. Nomura, therefore, does not present earnings forecasts.

Notes

(1)	Changes in significant subsidiaries during the period: Yes

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

Number of consolidation Exclusion 1 (Nomura Principal Investment plc)

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

(3)	Changes in accounting policies

a) Changes in accounting policies due to amendments to the accounting standards : None

b) Changes in accounting policies due to other than a) : None

(4)	Number of shares issued (common stock)


	At March 31		At December 31
	2013		2013
Number of shares outstanding (including treasury stock)		3,822,562,601		3,822,562,601
Number of treasury stock		111,602,349		107,316,275

	For the nine months ended December 31
	2012		2013
Average number of shares outstanding (year-to-date)		3,687,924,842		3,707,756,280

* 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 torevision, possibly material, in the quarterly securities report for the period ended December 31, 2013, an English translation of which the registrant plans to furnish on Form 6-K in due course.

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
(3) Consolidated Earnings Forecasts			P.5

2. Quarterly Consolidated Financial Statements			P.5

(1) Consolidated Balance Sheets			P.6
(2) Consolidated Statements of Income			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

3. Supplementary Information			P.12

(1) Consolidated Statements of Income – 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

1.	Qualitative Information of the Quarterly Consolidated Results

(1) Consolidated Operating Results

U.S. GAAP


	Billions of yen						% Change
	For the nine months ended						(B-A)/(A)
	December 31, 2012 (A)			December 31, 2013 (B)			(B-A)/(A)
Net revenue		1,160.0			1,167.1			0.6
Non-interest expenses		1,092.0			894.1			(18.1	)

Income (loss) before income taxes		68.0			273.0			301.3
Income tax expense		56.5			119.3			111.0

Net income (loss)		11.5			153.8			—

Less: Net income (loss) attributable to noncontrolling interests		(13.3	)		1.4			—

Net income (loss) attributable to NHI shareholders		24.8			152.3			514.0

Return on shareholders’ equity – annualized		1.5	%		8.5	%		—

Note: 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 1,167.1 billion yen for the nine months ended December 31, 2013, an increase of 0.6% from the same period in the prior year. Non-interest expenses decreased by 18.1% from the same period in the prior year to 894.1 billion yen. Income before income taxes was 273.0 billion yen and Net income attributable to NHI shareholders was 152.3 billion yen for the nine months ended December 31, 2013.

Segment Information


	Billions of yen				% Change
	For the nine months ended				(B-A)/(A)
	December 31, 2012 (A)		December 31, 2013 (B)		(B-A)/(A)
Net revenue		1,145.1		1,148.7		0.3
Non-interest expenses		1,092.0		894.1		(18.1	)

Income (loss) before income taxes		53.1		254.6		379.4

In the above segment information totals, which exclude unrealized gain (loss) on investments in equity securities held for operating purposes, Net revenue for the nine months ended December 31, 2013 was 1,148.7 billion yen, an increase of 0.3% from the same period in the prior year. Non-interest expenses decreased by 18.1% from the same period in the prior year to 894.1 billion yen. Income before income taxes was 254.6 billion yen for the nine months ended December 31, 2013. Please refer to page 10 for further details of the differences between U.S. GAAP and business segment amounts.

<Business Segment Results>

Operating Results of Retail


	Billions of yen				% Change
	For the nine months ended				(B-A)/(A)
	December 31, 2012 (A)		December 31, 2013 (B)		(B-A)/(A)
Net revenue		259.2		414.0		59.8
Non-interest expenses		215.8		245.3		13.7

Income (loss) before income taxes		43.4		168.7		288.7

Net revenue increased by 59.8% from the same period in the prior year to 414.0 billion yen primarily due to increased sales performances of equities and investment trusts as a result of active equity markets. Non-interest expenses increased by 13.7% to 245.3 billion yen. As a result, income before income taxes increased by 288.7% to 168.7 billion yen.

Operating Results of Asset Management


	Billions of yen				% Change
	For the nine months ended				(B-A)/(A)
	December 31, 2012 (A)		December 31, 2013 (B)		(B-A)/(A)
Net revenue		50.6		60.0		18.5
Non-interest expenses		33.4		38.2		14.5

Income (loss) before income taxes		17.2		21.8		26.3

Net revenue increased by 18.5% from the same period in the prior year to 60.0 billion yen primarily due to increase of assets under management. Non-interest expenses increased by 14.5% to 38.2 billion yen. As a result, income before income taxes increased by 26.3% to 21.8 billion yen. Assets under management was 32.9 trillion yen at the end of December 2013.

Operating Results of Wholesale


	Billions of yen				% Change
	For the nine months ended				(B-A)/(A)
	December 31, 2012 (A)		December 31, 2013 (B)		(B-A)/(A)
Net revenue		447.9		566.6		26.5
Non-interest expenses		411.9		488.3		18.5

Income (loss) before income taxes		36.0		78.3		117.6

Net revenue was 566.6 billion yen, an increase of 26.5% compared to the same period in the prior year. This increase was primarily due to the improved performance of equity business, an increase in the number of capital markets transactions and mark to market gain from the listing of Ashikaga Holdings Co., Ltd. Non-interest expenses increased by 18.5% to 488.3 billion yen. As a result, income before income taxes increased by 117.6% to 78.3 billion yen.

Other Operating Results


	Billions of yen						% Change
	For the nine months ended						(B-A)/(A)
	December 31, 2012 (A)			December 31, 2013 (B)			(B-A)/(A)
Net revenue		387.3			108.0			(72.1	)
Non-interest expenses		430.9			122.2			(71.6	)

Income (loss) before income taxes		(43.5	)		(14.2	)		—

Net revenue was 108.0 billion yen. Loss before income taxes was 14.2 billion yen.

(2) Consolidated Financial Position

Total assets as of December 31, 2013, were 43.6 trillion yen, an increase of 5.7 trillion yen compared to March 31, 2013, mainly due to the increase in Trading assets. Total liabilities as of December 31, 2013 were 41.1 trillion yen, an increase of 5.5 trillion yen compared to March 31, 2013, mainly due to the increase in Securities sold under agreements to repurchase. Total equity as of December 31, 2013 was 2.5 trillion yen, an increase of 209.5 billion yen compared to March 31, 2013.

(3) Consolidated Earnings Forecasts

2.	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, 2013) and Form 20-F (the annual report filed with the U.S. Securities and Exchange Commission on June 27, 2013) for the year ended March 31, 2013.

On December 19, 2013, Ashikaga Holdings Co., Ltd. (“Ashikaga Holdings”) was listed in the First Section of the Tokyo Stock Exchange. Nomura’s investment in Ashikaga Holdings has historically been primarily reported within Trading assets and private equity investments – Private equity investments. However, following the listing, the investment is now reported within Other assets – Other in the consolidated balance sheets. Nomura carries this investment at fair value through election of the fair value option. The majority of gains and losses associated with this investment has historically been reported within Revenue – Gain (loss) on private equity investments. However, following the listing, such amounts are now reported within Revenue – Other in the consolidated statements of income. As a result of the Ashikaga Holdings listing in the First Section of the Tokyo Stock Exchange, these changes are attributable to the shift from our Investment Banking business to a corporate-wide perspective in enhancing the corporate value of the share ownership.

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

(1) Consolidated Balance Sheets (UNAUDITED)


	Millions of yen
	March 31, 2013			December 31, 2013			Increase/(Decrease)
ASSETS
Cash and cash deposits:
Cash and cash equivalents		805,087			1,257,512			452,425
Time deposits		577,921			460,243			(117,678	)
Deposits with stock exchanges and other segregated cash		269,744			340,420			70,676

Total cash and cash deposits		1,652,752			2,058,175			405,423

Loans and receivables:
Loans receivable		1,575,494			1,473,175			(102,319	)
Receivables from customers		63,792			46,646			(17,146	)
Receivables from other than customers		992,847			1,139,791			146,944
Allowance for doubtful accounts		(2,258	)		(3,287	)		(1,029	)

Total loans and receivables		2,629,875			2,656,325			26,450

Collateralized agreements:
Securities purchased under agreements to resell		8,295,372			9,722,027			1,426,655
Securities borrowed		5,819,885			6,759,252			939,367

Total collateralized agreements		14,115,257			16,481,279			2,366,022

Trading assets and private equity investments:
Trading assets*		17,037,191			19,587,300			2,550,109
Private equity investments		87,158			43,094			(44,064	)

Total trading assets and private equity investments		17,124,349			19,630,394			2,506,045

Other assets:
Office buildings, land, equipment and facilities
(net of accumulated depreciation and amortization of ¥355,831 million as of March 31, 2013 and ¥399,987 million as of December 31, 2013)		428,241			428,851			610
Non-trading debt securities*		920,611			1,001,655			81,044
Investments in equity securities*		123,490			141,826			18,336
Investments in and advances to affiliated companies*		345,705			370,765			25,060
Other		602,159			865,148			262,989

Total other assets		2,420,206			2,808,245			388,039

Total assets		37,942,439			43,634,418			5,691,979

*	Including securities pledged as collateral


	Millions of yen
	March 31, 2013			December 31, 2013			Increase/ (Decrease)
LIABILITIES AND EQUITY
Short-term borrowings		738,445			559,795			(178,650	)
Payables and deposits:
Payables to customers		476,705			542,741			66,036
Payables to other than customers		864,962			1,356,889			491,927
Deposits received at banks		1,072,134			1,103,782			31,648

Total payables and deposits		2,413,801			3,003,412			589,611

Collateralized financing:
Securities sold under agreements to repurchase		12,444,317			14,495,419			2,051,102
Securities loaned		2,158,559			2,636,357			477,798
Other secured borrowings		806,507			802,690			(3,817	)

Total collateralized financing		15,409,383			17,934,466			2,525,083

Trading liabilities		8,491,296			10,350,094			1,858,798
Other liabilities		978,163			1,261,330			283,167
Long-term borrowings		7,592,368			7,996,855			404,487

Total liabilities		35,623,456			41,105,952			5,482,496

Equity
NHI shareholders’ equity:
Common stock
Authorized – 6,000,000,000 shares
Issued – 3,822,562,601 shares as of March 31, 2013 and
3,822,562,601 shares as of December 31, 2013
Outstanding – 3,710,960,252 shares as of March 31, 2013 and
3,715,246,326 shares as of December 31, 2013		594,493			594,493			—
Additional paid-in capital		691,264			681,195			(10,069	)
Retained earnings		1,136,523			1,259,206			122,683
Accumulated other comprehensive income (loss)		(57,395	)		31,361			88,756

Total NHI shareholders’ equity before treasury stock		2,364,885			2,566,255			201,370
Common stock held in treasury, at cost – 111,602,349 shares as of March 31, 2013 and 107,316,275 shares as of December 31, 2013		(70,514	)		(73,761	)		(3,247	)

Total NHI shareholders’ equity		2,294,371			2,492,494			198,123

Noncontrolling interests		24,612			35,972			11,360

Total equity		2,318,983			2,528,466			209,483

Total liabilities and equity		37,942,439			43,634,418			5,691,979

(2) Consolidated Statements of Income (UNAUDITED)


	Millions of yen					% Change
	For the nine months ended					(B-A)/(A)
	December 31, 2012(A)			December 31, 2013(B)		(B-A)/(A)
Revenue:
Commissions		233,327			384,681		64.9
Fees from investment banking		40,541			64,147		58.2
Asset management and portfolio service fees		102,241			125,157		22.4
Net gain on trading		261,516			347,133		32.7
Gain on private equity investments		6,543			11,738		79.4
Interest and dividends		296,048			316,018		6.7
Gain on investments in equity securities		14,767			20,394		38.1
Other		404,817			111,802		(72.4	)

Total revenue		1,359,800			1,381,070		1.6
Interest expense		199,781			213,938		7.1

Net revenue		1,160,019			1,167,132		0.6

Non-interest expenses:
Compensation and benefits		392,967			437,418		11.3
Commissions and floor brokerage		66,800			83,154		24.5
Information processing and communications		130,341			142,228		9.1
Occupancy and related depreciation		68,429			59,613		(12.9	)
Business development expenses		34,553			28,361		(17.9	)
Other		398,881			143,312		(64.1	)

Total non-interest expenses		1,091,971			894,086		(18.1	)

Income before income taxes		68,048			273,046		301.3
Income tax expense		56,520			119,274		111.0

Net income		11,528			153,772		—

Less: Net income (loss) attributable to noncontrolling interests		(13,284	)		1,437		—

Net income attributable to NHI shareholders		24,812			152,335		514.0

Per share of common stock:
	Yen					% Change
Basic-
Net income attributable to NHI shareholders per share		6.73			41.09		510.5

Diluted-
Net income attributable to NHI shareholders per share		6.60			39.83		503.5

(3) Consolidated Statements of Comprehensive Income (UNAUDITED)


	Millions of yen						% Change
	For the nine months ended						(B-A)/(A)
	December 31, 2012(A)			December 31, 2013(B)			(B-A)/(A)
Net income		11,528			153,772			—
Other comprehensive income:
Change in cumulative translation adjustments, net of tax		21,374			84,608			295.8
Defined benefit pension plans:
Pension liability adjustment		5,612			2,883			(48.6	)
Deferred income taxes		(1,547	)		(974	)		—

Total		4,065			1,909			(53.0	)

Non-trading securities:
Net unrealized gain on non-trading securities		5,393			6,844			26.9
Deferred income taxes		(1,239	)		(2,363	)		—

Total		4,154			4,481			7.9

Total other comprehensive income		29,593			90,998			207.5

Comprehensive income		41,121			244,770			495.2
Less: Comprehensive income (loss) attributable to noncontrolling interests		(10,909	)		3,679			—

Comprehensive income attributable to NHI shareholders		52,030			241,091			363.4

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

Not applicable.

(5) Segment Information – Operating Segment (UNAUDITED)

The following table shows business segment information and reconciliation items to the consolidated statements of income. The majority of gains and losses arising from election of the fair value option for the investment in Ashikaga Holdings has historically been reported within the Wholesale business segment. However as a result of the listing of Ashikaga Holdings in the First Section of Tokyo Stock Exchange on December 19, 2013, such gains and losses are now reported within the Other segment in Other.


	Millions of yen						% Change
	For the nine months ended						(B-A)/(A)
	December 31,			December 31,
	2012 (A)			2013 (B)
Net revenue
Business segment information:
Retail		259,176			414,047			59.8
Asset Management		50,643			60,015			18.5
Wholesale		447,945			566,623			26.5

Subtotal		757,764			1,040,685			37.3
Other		387,323			108,047			(72.1	)

Net revenue		1,145,087			1,148,732			0.3

Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes		14,932			18,400			23.2

Net revenue		1,160,019			1,167,132			0.6

Non-interest expenses
Business segment information:
Retail		215,766			245,313			13.7
Asset Management		33,395			38,226			14.5
Wholesale		411,946			488,301			18.5

Subtotal		661,107			771,840			16.7
Other		430,864			122,246			(71.6	)

Non-interest expenses		1,091,971			894,086			(18.1	)

Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes		—			—			—

Non-interest expenses		1,091,971			894,086			(18.1	)

Income (loss) before income taxes
Business segment information:
Retail		43,410			168,734			288.7
Asset Management		17,248			21,789			26.3
Wholesale		35,999			78,322			117.6

Subtotal		96,657			268,845			178.1
Other *		(43,541	)		(14,199	)		—

Income (loss) before income taxes		53,116			254,646			379.4

Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes		14,932			18,400			23.2

Income (loss) before income taxes		68,048			273,046			301.3

*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 nine months ended						(B-A)/(A)
	December 31,			December 31,
	2012 (A)			2013 (B)
Net gain (loss) related to economic hedging transactions		148			10,856			—
Realized gain (loss) on investments in equity securities held for operating purposes		(165	)		1,994			—
Equity in earnings of affiliates		9,168			22,398			144.3
Corporate items		(15,220	)		(34,999	)		—
Other		(37,472	)		(14,448	)		—

Total		(43,541	)		(14,199	)		—

(6) Significant Changes in Equity (UNAUDITED)

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


	Millions of yen
	For the nine months ended December 31, 2013
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		691,264
Gain (loss) on sales of treasury stock		(7,433	)
Issuance and exercise of common stock options		(2,867	)
Purchase / sale of subsidiary shares, net		231

Balance at end of period		681,195

Retained earnings
Balance at beginning of year		1,136,523
Net income attributable to NHI shareholders		152,335
Cash dividends		(29,652	)

Balance at end of period		1,259,206

Accumulated other comprehensive income
Cumulative translation adjustments
Balance at beginning of year		(38,875	)
Net change during the period		83,522

Balance at end of period		44,647

Defined benefit pension plans
Balance at beginning of year		(28,518	)
Pension liability adjustment		1,909

Balance at end of period		(26,609	)

Non-trading securities
Balance at beginning of year		9,998
Net unrealized gain on non-trading securities		3,325

Balance at end of period		13,323

Balance at end of period		31,361

Common stock held in treasury
Balance at beginning of year		(70,514	)
Repurchases of common stock		(32,502	)
Sale of common stock		9
Common stock issued to employees		28,579
Other net change in treasury stock		667

Balance at end of period		(73,761	)

Total NHI shareholders’ equity

Balance at end of period		2,492,494

Noncontrolling interests
Balance at beginning of year		24,612
Net change during the period		11,360

Balance at end of period		35,972

Total equity

Balance at end of period		2,528,466

3. Supplementary Information

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


	Millions of yen																% Change			Millions of yen
	For the three months ended																(B-A)/(A)			For the year ended March 31, 2013
	June 30, 2012			September 30, 2012		December 31, 2012			March 31, 2013		June 30, 2013		September 30, 2013(A)		December 31, 2013(B)		(B-A)/(A)			For the year ended March 31, 2013
Revenue:
Commissions		77,367			72,279		83,681			125,742		157,634		105,613		121,434		15.0			359,069
Fees from investment banking		10,383			17,131		13,027			21,812		25,394		22,984		15,769		(31.4	)		62,353
Asset management and portfolio service fees		33,813			33,411		35,017			38,788		42,381		40,702		42,074		3.4			141,029
Net gain on trading		84,399			88,929		88,188			106,463		128,409		110,180		108,544		(1.5	)		367,979
Gain (loss) on private equity investments		(5,387	)		299		11,631			1,510		50		703		10,985		—			8,053
Interest and dividends		103,469			92,834		99,745			97,959		115,325		98,091		102,602		4.6			394,007
Gain (loss) on investments in equity securities		(7,061	)		12,970		8,858			23,919		7,852		5,037		7,505		49.0			38,686
Other		142,610			143,373		118,834			303,950		28,225		45,069		38,508		(14.6	)		708,767

Total revenue		439,593			461,226		458,981			720,143		505,270		428,379		447,421		4.4			2,079,943
Interest expense		70,339			59,547		69,895			66,531		73,949		71,989		68,000		(5.5	)		266,312

Net revenue		369,254			401,679		389,086			653,612		431,321		356,390		379,421		6.5			1,813,631

Non-interest expenses:
Compensation and benefits		124,573			133,696		134,698			154,624		163,205		135,391		138,822		2.5			547,591
Commissions and floor brokerage		21,978			21,904		22,918			24,588		29,046		26,134		27,974		7.0			91,388
Information processing and communications		42,524			45,145		42,672			49,563		48,233		46,240		47,755		3.3			179,904
Occupancy and related depreciation		24,110			22,140		22,179			23,116		19,784		20,830		18,999		(8.8	)		91,545
Business development expenses		11,329			11,173		12,051			14,457		7,859		9,473		11,029		16.4			49,010
Other		125,074			132,204		141,603			217,582		49,975		45,389		47,948		5.6			616,463

Total non-interest expenses		349,588			366,262		376,121			483,930		318,102		283,457		292,527		3.2			1,575,901

Income before income taxes		19,666			35,417		12,965			169,682		113,219		72,933		86,894		19.1			237,730
Income tax expense		13,590			30,056		12,874			75,519		46,956		34,549		37,769		9.3			132,039

Net income		6,076			5,361		91			94,163		66,263		38,384		49,125		28.0			105,691

Less: Net income (loss) attributable to noncontrolling interests		4,185			2,552		(20,021	)		11,741		369		272		796		192.6			(1,543	)

Net income attributable to NHI shareholders		1,891			2,809		20,112			82,422		65,894		38,112		48,329		26.8			107,234


	Yen																% Change			Yen
Per share of common stock:
Basic-
Net income attributable to NHI shareholders per share		0.51			0.76		5.44			22.23		17.78		10.29		13.02		26.5			29.04

Diluted-
Net income attributable to NHI shareholders per share		0.50			0.74		5.33			21.55		17.24		9.99		12.65		26.6			28.37

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

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


	Millions of yen																			% Change			Millions of yen
	For the three months ended																			(B-A)/(A)			For the year ended March 31, 2013
	June 30, 2012			September 30, 2012		December 31, 2012			March 31, 2013		June 30, 2013			September 30, 2013(A)			December 31, 2013(B)			(B-A)/(A)			For the year ended March 31, 2013
Net revenue
Business segment information:
Retail		82,711			80,786		95,679			138,749		166,342			119,730			127,975			6.9			397,925
Asset Management		16,418			15,439		18,786			18,294		20,174			18,626			21,215			13.9			68,937
Wholesale		121,883			137,094		188,968			196,911		194,609			183,348			188,666			2.9			644,856

Subtotal		221,012			233,319		303,433			353,954		381,125			321,704			337,856			5.0			1,111,718
Other		154,567			156,003		76,753			276,905		43,032			29,649			35,366			19.3			664,228

Net revenue		375,579			389,322		380,186			630,859		424,157			351,353			373,222			6.2			1,775,946

Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes		(6,325	)		12,357		8,900			22,753		7,164			5,037			6,199			23.1			37,685

Net revenue		369,254			401,679		389,086			653,612		431,321			356,390			379,421			6.5			1,813,631

Non-interest expenses
Business segment information:
Retail		70,523			69,824		75,419			81,531		85,237			79,774			80,302			0.7			297,297
Asset Management		11,048			10,879		11,468			14,373		13,483			12,454			12,289			(1.3	)		47,768
Wholesale		130,434			136,901		144,611			161,253		169,372			158,063			160,866			1.8			573,199

Subtotal		212,005			217,604		231,498			257,157		268,092			250,291			253,457			1.3			918,264
Other		137,583			148,658		144,623			226,773		50,010			33,166			39,070			17.8			657,637

Non-interest expenses		349,588			366,262		376,121			483,930		318,102			283,457			292,527			3.2			1,575,901

Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes		—			—		—			—		—			—			—			—			—

Non-interest expenses		349,588			366,262		376,121			483,930		318,102			283,457			292,527			3.2			1,575,901

Income (loss) before income taxes
Business segment information:
Retail		12,188			10,962		20,260			57,218		81,105			39,956			47,673			19.3			100,628
Asset Management		5,370			4,560		7,318			3,921		6,691			6,172			8,926			44.6			21,169
Wholesale		(8,551	)		193		44,357			35,658		25,237			25,285			27,800			9.9			71,657

Subtotal		9,007			15,715		71,935			96,797		113,033			71,413			84,399			18.2			193,454
Other *		16,984			7,345		(67,870	)		50,132		(6,978	)		(3,517	)		(3,704	)		—			6,591

Income (loss) before income taxes		25,991			23,060		4,065			146,929		106,055			67,896			80,695			18.9			200,045

Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes		(6,325	)		12,357		8,900			22,753		7,164			5,037			6,199			23.1			37,685

Income (loss) before income taxes		19,666			35,417		12,965			169,682		113,219			72,933			86,894			19.1			237,730

* 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, 2013
	June 30, 2012			September 30, 2012			December 31, 2012			March 31, 2013		June 30, 2013			September 30, 2013(A)			December 31, 2013(B)			(B-A)/(A)			For the year ended March 31, 2013
Net gain (loss) related to economic hedging transactions		(1,231	)		964			415			841		7,373			(1,667	)		5,150			—			989
Realized gain (loss) on investments in equity securities held for operating purposes		(736	)		613			(42	)		1,166		688			0			1,306			—			1,001
Equity in earnings of affiliates		1,273			3,346			4,549			5,233		5,343			8,884			8,171			(8.0	)		14,401
Corporate items		6,624			(7,044	)		(14,800	)		32,872		(12,344	)		(8,701	)		(13,954	)		—			17,652
Other		11,054			9,466			(57,992	)		10,020		(8,038	)		(2,033	)		(4,377	)		—			(27,452	)

Total		16,984			7,345			(67,870	)		50,132		(6,978	)		(3,517	)		(3,704	)		—			6,591

(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, 2013		December 31, 2013
Assets
Current Assets		3,221,039		3,620,222
Fixed Assets		2,554,812		2,771,788

Total Assets		5,775,850		6,392,010

Liabilities
Current Liabilities		663,807		1,262,247
Long-term Liabilities		3,236,320		3,137,196

Total Liabilities		3,900,128		4,399,443

Net Assets
Shareholders’ equity		1,774,048		1,893,604
Valuation and translation adjustments		56,585		57,674
Stock acquisition rights		45,090		41,289

Total Net Assets		1,875,723		1,992,567

Total Liabilities and Net Assets		5,775,850		6,392,010

Nomura Holdings, Inc. Unconsolidated Statements of Income

(UNAUDITED)


	Millions of yen
	For the nine months ended
	December 31, 2012		December 31, 2013
Operating revenue		220,634		343,277
Operating expenses		149,536		158,664

Operating income		71,098		184,613

Non-operating income		1,827		3,329
Non-operating expenses		8,257		2,686

Ordinary income		64,668		185,256

Special profits		7,116		3,485
Special losses		22,364		2,305

Income before income taxes		49,420		186,436

Income taxes – current		1,416		(54,417	)
Income taxes – deferred		8,734		57,448

Net income		39,270		183,406

(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/2014_3q.pdf