Form 6-K
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

Supplement for the month of January 2007.

 

 

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-______.

 

Table of Contents

Information furnished on this form:

EXHIBIT

Exhibit Number

 

1.    Consolidated Results of Operations (US GAAP), Third quarter, year ending March 2007

Table of Contents

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: January 30, 2007

     By:   /s/ TETSU OZAKI
        Tetsu Ozaki
        Senior Managing Director

Table of Contents
Consolidated Results of Operations
(US GAAP)
Third quarter, year ending March 2007
Nomura Holdings, Inc.
January 2007

Table of Contents
2
1.
This document is produced by Nomura Holdings, Inc. ("Nomura"). Copyright 2007 Nomura Holdings, Inc. All rights reserved.
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.

Table of Contents
3
Third
Quarter
Results
Key
Points
(P4)
Third Quarter Financial Highlights (P5)
Third Quarter Business Segment Highlights (P6)
Domestic Retail (P7)
Global Markets (P8)
Global Investment Banking (P9)
Global Merchant Banking (P10)
Asset Management (P11)
Non-interest Expenses
(Business Segment Total) (P12)
Presentation
Outline
Net Income and ROE (P14)
Consolidated Income (P15)
Main Revenue Items (P17)
Adjustment of Consolidated Results and Segment Results:
Income before Income Taxes (P19)
Segment
“Other”
Income
(Loss)
before
Income
Taxes
(P21)
Consolidated Balance Sheet (P22)
Effect of Consolidation/Deconsolidation of Certain Private
Equity Investee Companies (Non-interest Expenses) (P23)
Domestic Retail Related Data (P24)
Global Merchant Banking Related Data (P28)
Asset Management Related Data (P29)
Third Quarter Achievements (P32)
League Tables (P33)
Market Share Data (P34)
Value at Risk (P35)
Number of Employees (P36)
Appendix

Table of Contents
4
Third Quarter Results Key Points
*Nomura Securities (P24)
**Thomson Financial
Third quarter ROE (annualized) recovered to 14.6%, and cumulative ROE for 1Q-3Q now
stands at 8.9%.
Commissions for distribution of investment trusts* totaled 33.7 billion yen, exceeding last
year’s 4Q and setting a record high since we began quarterly reporting under US GAAP in
the fiscal year ended March 2002.
In the Asset Management division, assets under management increased to 25.6 trillion yen,
while net revenue and income before income taxes both marked record highs since we
began quarterly reporting.
Our equity and equity-related bookrunner
Japan deal value** totaled USD 7.3 billion in 3Q, a
record
high
since
we
began
quarterly
reporting.
We
retained
the
top
spot
in
the
Equity
and
Equity-related league table** (Japan) for CY 2006, the fourth consecutive year on top.

Table of Contents
5
128.6
43.5
79.1
20.1
106.5
14.6%
8.3%
3.9%
22.1%
25.4%
0
20
40
60
80
100
120
140
0%
5%
10%
15%
20%
25%
30%
Third Quarter Financial Highlights
Net Revenue
Net Income/ROE (Annualized)
Income before Income Taxes**
Appendix :
Consolidated Income (Quarterly):  P16
Adjustment of Consolidated Results
and Segment Results: Income before
Income Taxes  (Quarterly): P20
*Annualized
**Income
before
income
taxes
for
the
year
ended
March
31,
2006,
is
the
total
for
continuing
and
discontinued
operations.
Note:
In
accordance
with
SFAS
No.
144
“Accounting
for
the
Impairment
or
Disposal
of
Long-Lived
Assets,”
net
revenue
and
non-interest
expenses
from
the
operations
of
Millennium
Retailing
Inc.
(one
of
Nomura
Principal
Finance’s
private
equity
investee
companies,
and
whose
operations
were
treated
as
discontinued
during
the
third
quarter
of
the
fiscal
year
ended
March
31,
2006,
in
conjunction
with
the
agreement
reached
in
the
third
quarter
by
Nomura
Principal
Finance
to
sell
its
stake
in
Millennium
Retailing
Inc.)
are
not
shown
independently.
Income from discontinued operations
before income taxes
Income before income taxes
(billions of yen)
(billions of yen)
(billions of yen)
Effects of consolidation / deconsolidation of certain private
equity investee companies
Unrealized gain (loss) on investments in equity securities held
for relationship purposes
Business Segment results
3Q
4Q
1Q
2Q
3Q
FY2006.3
FY2007.3
3Q
4Q
1Q
2Q
3Q
FY2006.3
FY2007.3
3Q
4Q
1Q
2Q
3Q
FY2006.3
FY2007.3
Net revenue for the third quarter was 322.9 billion yen (+28.7% QoQ, -10.2% YoY). Income before income taxes was
132.1 billion yen (+80.8% QoQ, -29.4% YoY). Net income was 79.1 billion yen (+81.7% QoQ, -25.7% YoY). ROE* for
the third quarter was 14.6%.
Net Income (lhs)
ROE (annualized, rhs)
308.7
40.7
27.4
386.4
282.2
209.8
255.7
-4.8
36.3
-13.1
-20.6
2.8
16.8
-62.9
0.1
325.7
205.9
251.0
322.9
0
100
200
300
400
500
359.8
231.8
101.2
54.4
82.6
36.3
2.8
-20.6
-4.8
-13.1
-90.8
23.0
-19.8
143.9
97.7
9.9
-0.4
1.3
33.4
209.6
187.1
132.1
73.1
0
100
200
300

Table of Contents
6
Third Quarter Business Segment Highlights
Net Revenue
Appendix :
Adjustment of Consolidated Results
and Segment Results: Income before
Income Taxes (Quarterly): P20
Segment “Other”
Income (Loss)
before Income Taxes: P21
Income before Income Taxes
Other
Asset Management
Global Merchant Banking
Global Investment Banking
Global Markets
Domestic Retail
(billions of yen)
(billions of yen)
3Q
4Q
1Q
2Q
3Q
FY2006.3
FY2007.3
3Q
4Q
1Q
2Q
3Q
FY2006.3
FY2007.3
With
a
significant
quarter-on-quarter
recovery
in
net
revenue
in
Domestic
Retail
and
Global
Markets,
net
revenue
from
business
segments
was
308.7
billion
yen
(+20.7%
QoQ,
-20.1%
YoY),
and
income
before
income
taxes
was
143.9
billion
yen
(+47.3%
QoQ,
-37.9%
YoY).
In
the
“Other”
segment,
we
reported
approximately
34.0
billion
yen
in
revenue
related
to
the
IPO
of
Nomura
Real
Estate
Holdings.
74.1
51.4
42.5
28.2
46.9
66.0
14.3
-3.6
24.1
5.6
16.3
10.9
9.8
41.5
6.7
11.1
12.2
-23.0
60.9
17.0
23.3
77.6
-21.0
6.2
5.7
5.2
4.3
-10.3
-17.9
43.1
54.4
97.7
101.2
231.8
143.9
0
50
100
150
200
250
136.7
123.6
105.6
94.5
115.9
115.2
128.4
68.9
48.5
78.1
18.8
29.7
24.1
12.1
44.5
9.2
23.9
24.5
31.1
35.3
80.1
-15.5
17.6
18.4
18.1
-3.9
1.0
-13.3
14.6
56.8
209.8
255.7
386.4
282.2
308.7
0
100
200
300
400

Table of Contents
7
Domestic Retail
Net Revenue and Income before Income Taxes
Appendix:
Retail stock brokerage
commissions, commissions for
distribution of investment trusts,
domestic distribution volume of
investment trusts, retail foreign
currency bond sales,
etc: P24
Domestic Client Assets: P25
Domestic Client Assets Net Asset
Inflow: P26
Number of Accounts: P27
Third Quarter Achievements:P32
*Nomura Securities ( P24)
(billions of yen)
(billions of yen)
Net
revenue
of
115.9
billion
yen
(+22.6%
QoQ,
-15.2%
YoY).
Income
before
income
taxes
of
46.9
billion
yen
(+66.4%
QoQ,
-36.7%
YoY).
Domestic
Client
Assets
increased
by
3.8
trillion
yen
to
81.5
trillion
yen.
Commissions
for
distribution
of
investment
trusts*
grew
40.9%
QoQ
to
33.7
billion
yen,
reflecting
the
strong
sales
of
existing
investment
trusts
offering
frequent
distributions
as
well
as
newly-launched
products.
The
steady
growth
of
assets
in
stock
investment
trusts
pushed
investment
trust
administration
fees
to
12.1
billion
yen,
the
eighth
consecutive
quarterly
increase.
Retail
stock
brokerage
commissions
increased
19.8%
QoQ
to
22.6
billion
yen.
Record high commissions for distribution of investment trusts* since FY March 2002 
Full Year
Full Year
Quarter
Quarter
3Q
4Q
1Q
2Q
3Q
Commissions
104.1
155.2
174.0
269.4
85.5
77.7
63.0
50.8
63.6
25.2%
-25.5%
Sales credit
95.7
97.8
73.7
109.0
32.3
24.5
23.8
20.1
26.7
32.8%
-17.2%
Fees from investment banking
15.0
26.1
24.5
26.4
8.0
8.9
3.5
6.5
8.9
35.8%
10.1%
Investment
trust
administration
fees
and
other
32.0
21.8
26.1
34.4
9.1
10.1
10.6
11.3
12.1
7.1%
33.8%
Net interest revenue
2.4
4.9
6.1
7.4
1.9
2.3
4.7
5.7
4.5
-20.5%
141.7%
Net revenue
249.3
305.8
304.4
446.5
136.7
123.6
105.6
94.5
115.9
22.6%
-15.2%
Non-interest expenses
213.6
226.2
223.2
249.3
62.6
72.2
63.1
66.3
69.0
4.0%
10.2%
Income before income taxes
35.7
79.5
81.2
197.2
74.1
51.4
42.5
28.2
46.9
66.4%
-36.7%
FY2005.3
FY2006.3
FY2003.3
FY2004.3
YoY
QoQ
FY2006.3
FY2007.3
74.1
51.4
46.9
28.2
42.5
94.5
105.6
123.6
136.7
115.9
0
50
100
150
304.4
305.8
249.3
197.2
81.2
79.5
35.7
0
100
200
300
400
500
Net interest revenue
Investment trust administration
fees and other
Fees from investment banking
Sales credit
Commissions
Income before income taxes
446.5

Table of Contents
8
Global Markets
Appendix:
Third Quarter
Achievements: P32
Market Share Data: P34
Value at Risk : P35
Net Revenue and Income before Income Taxes
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.
(billions of yen)
(billions of yen)
Net
revenue
was
78.1
billion
yen
(+61.0%
QoQ,
-32.2%
YoY).
Income
before
income
taxes
was
24.1
billion
yen
(+27.7
billion
yen
QoQ,
-60.4%
YoY).
Net
revenue
from
Fixed
Income
climbed
176.8%
QoQ
to
51.8
billion
yen
due
to
a
recovery
in
order
flow
for
interest
rate
and
currency-linked
structured
bonds.
Equity
net
revenue
decreased
3.1%
QoQ
to
23.3
billion
yen,
reflecting
weak
trading
revenue
from
MPO
transactions
and
block
trades.
Fixed income revenue recovered significantly
Quarter
Quarter
Full Year
Full Year
3Q
4Q
1Q
2Q
3Q
Fixed Income
154.0
174.0
119.8
173.8
54.1
62.0
30.8
18.7
51.8
176.8%
-4.1%
Equity
82.0
110.2
90.2
168.5
53.3
57.2
34.0
24.0
23.3
-3.1%
-56.3%
Other
0.0
0.0
33.1
28.8
7.8
9.3
4.1
5.7
3.0
-48.1%
-62.1%
Net revenue
236.0
284.1
243.1
371.1
115.2
128.4
68.9
48.5
78.1
61.0%
-32.2%
Non-interest expenses
142.4
163.3
182.9
213.4
54.3
62.4
54.6
52.1
53.9
3.6%
-0.6%
Income before income taxes
93.6
120.8
60.2
157.7
60.9
66.0
14.3
-3.6
24.1
-
-60.4%
YoY
QoQ
FY2005.3
FY2006.3
FY2007.3
FY2006.3
FY2003.3
FY2004.3
93.6
120.8
60.2
157.7
236.0
284.1
243.1
371.1
0
50
100
150
200
250
300
350
400
Other
Equity
Fixed Income
Income before
income taxes
24.1
-3.6
14.3
66.0
60.9
78.1
48.5
68.9
128.4
115.2
0
20
40
60
80
100
120
140
160

Table of Contents
9
3Q
4Q
1Q
2Q
3Q
Net revenue
69.1
70.9
75.4
99.7
35.3
31.1
18.8
29.7
24.1
-18.9%
-31.7%
Non-interest expenses
56.4
53.7
46.2
48.1
12.0
14.2
13.2
13.4
13.2
-1.9%
9.6%
Income before income taxes
12.8
17.2
29.2
51.5
23.3
17.0
5.6
16.3
10.9
-32.9%
-53.1%
YoY
QoQ
FY2005.3
FY2006.3
FY2007.3
FY2006.3
FY2003.3
FY2004.3
99.7
75.4
70.9
69.1
51.5
29.2
17.2
12.8
0
20
40
60
80
100
120
Net revenue
Income before
income taxes
24.1
29.7
18.8
31.1
35.3
10.9
16.3
5.6
17.0
23.3
0
10
20
30
40
Global Investment Banking
Appendix:
Third Quarter
Achievements: P32
League Tables: P33
Market Share Data: P34
Net Revenue and Income before Income Taxes
Note:
In April 2004, Fixed Income, Equity and certain functions of Investment Banking were consolidated to create Global Markets.
(billions of yen)
*  Since we began USGAAP quarterly
reporting in the fiscal year ended  
March 2002.
**
Thomson Financial
Net
revenue
of
24.1
billion
yen
(-18.9%
QoQ,
-31.7%
YoY),
Income
before
income
taxes
of
10.9
billion
yen       
(-32.9%
QoQ,
-53.1%
YoY).
In
equity-related
underwriting,
we
acted
as
lead
manager
for
such
large
deals
as
the
public
offerings
from
Aeon
and
Toyota
Motor,
and
a
CB
issue
from
Sharp.
We
ranked
number
one
in
the
Equity
and
Equity-Related
(Japan)
league
table**
for
CY
2006,
marking
the
fourth
consecutive
year
in
the
top
spot.
In
M&A,
we
acted
as
financial
advisor
on
the
consolidation
of
Sumitomo
Corporation’s
lease
businesses
(TOB
for
Sumisho
Lease),
and
the
Toshiba
Ceramics
MBO.
In
overseas
deals,
we
acted
as
joint
bookrunner
for
Infosys
Technologies’
global
offering,
and
the
IPO
for
Sistema-Hals,
a
major
Russian
real
estate
company.
Bookrunner
deal value a record USD 7.3 billion*
(billions of yen)
Full Year
Full Year
Quarter
Quarter

Table of Contents
10
Global Merchant Banking
Appendix:
Effect of consolidation /
deconsolidation of certain
PE investee companies
(Non-interest Expenses) :
P23
Business exposure: P28
Net Revenue and Income before Income Taxes
(billions of yen)
(billions
of yen)
Net
revenue
of
9.2
billion
yen
(-79.2%
QoQ,
-88.5%
YoY),
income
before
income
taxes
of
6.7
billion
yen      
(-83.9%
QoQ,
-91.4%
YoY).
Booked
gains
and
losses
including
the
impact
fromTerra
Firma’s
sale
of
a
partial
stake
in
an
investee
company.
Steady progress in exits
Quarter
Quarter
Full Year
Full Year
3Q
4Q
1Q
2Q
3Q
Net revenue
-6.6
10.7
7.3
68.2
80.1
-15.5
12.1
44.5
9.2
-79.2%
-88.5%
Non-interest expenses
8.6
10.2
10.4
12.8
2.5
5.5
2.3
3.1
2.6
-16.4%
1.8%
Income before income taxes
-15.3
0.5
-3.0
55.4
77.6
-21.0
9.8
41.5
6.7
-83.9%
-91.4%
FY2007.3
FY2003.3
FY2004.3
FY2006.3
FY2005.3
FY2006.3
QoQ
YoY
-6.6
10.7
7.3
68.2
-15.3
0.5
-3.0
55.4
0
30
60
90
Net revenue
Income before
income taxes
80.1
-15.5
12.1
44.5
9.2
6.7
9.8
-21.0
77.6
41.5
0
30
60
90

Table of Contents
11
Asset Management
Appendix:
Assets Under
Management: P29,30
Asset Management
Related Data: P31
Net Revenue and Income before Income Taxes
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.
**As of December 31, 2006
(billions of yen)
(billions of yen)
Net
revenue
of
24.5
billion
yen
(+2.9%
QoQ,
+35.8%
YoY).
Income
before
income
taxes
of
12.2
billion
yen      
(+9.9%
QoQ,
+94.7%
YoY).
Total
assets
under
management
increased
by
2.6
trillion
yen
to
25.6
trillion
yen**.
In
addition
to
the
growth
in
profits
resulting
from
the
increase
in
assets
under
management,
both
calendar
year-end
performance
fees
and
unrealized
gains
from
seed
money
for
new
product
development
were
booked.
Sales
of
My
Story
Profit
Distribution-type
Fund
and
other
investment
trusts
offering
frequent
distributions,
as
well
as
newly-launched
investment
trusts
such
as
the
Asia
Attractive
Dividend
Stock
Fund
were
strong.
Net
assets
in
funds
for
bank
customers
up
385.6
billion
yen
QoQ
to
1.5
trillion
yen**,
while
net
assets
in
Nomura
Global
6
Assets
Diversified
Fund
distributed
through
Japan
Post
rose
102.1
billion
yen
QoQ
to
349.0
billion
yen**.
Record high net revenue and income before income taxes*
* Since we began US GAAP quarterly
reporting in the fiscal year ended March
2002.
Full Year
Full Year
Quarter
Quarter
3Q
4Q
1Q
2Q
3Q
Net revenue
40.4
40.3
49.0
65.8
18.1
18.4
17.6
23.9
24.5
2.9%
35.8%
Non-interest expenses
36.3
39.8
39.0
45.2
11.8
12.7
12.4
12.8
12.4
-3.2%
4.7%
Income
before
income
taxes
4.0
0.5
10.0
20.6
6.2
5.7
5.2
11.1
12.2
9.9%
94.7%
YoY
QoQ
FY2007.3
FY2006.3
FY2005.3
FY2006.3
FY2003.3
FY2004.3
65.8
49.0
40.3
40.4
20.6
4.0
0.5
10.0
0
20
40
60
80
Net revenue
Income before income
taxes
24.5
23.9
17.6
18.4
18.1
6.2
5.7
5.2
11.1
12.2
0
5
10
15
20
25
30

Table of Contents
12
Non-interest Expenses (Business Segment Total)
Note:
All
non-interest
expense
figures
shown
on
this
slide
exclude
the
effects
of
consolidation/deconsolidation
of
certain
private
equity
investee
companies.
See
P23
for
more
details.
Compensation and Benefits
Appendix:
Effect of Consolidation /
Deconsolidation of Certain PE
Investee Companies(Non-
interest Expenses): P23
Number of Employees: P36
(billions of yen)
(billions of yen)
Non-interest
expenses
(business
segment
total)
of
164.8
billion
yen
(+4.3%
QoQ,
+6.6%
YoY)
Compensation
and
benefits
increased
10%
QoQ
to
82.8
billion
yen
with
the
growth
in
earnings.
3Q
4Q
1Q
2Q
3Q
FY2004.3
FY2005.3
FY2006.3
FY2007.3
FY2006.3
114.4
113.6
150.5
142.4
151.1
160.7
264.7
311.3
256.9
0
50
100
150
200
250
300
350
(billions of yen)
43.5
46.2
37.7
33.4
40.9
41.0
41.5
41.7
41.9
41.9
75.2
79.5
87.7
84.5
82.8
Fixed-type compensation and benefits
Variable-type compensation and
benefits
1
Full Year
Quarter
3Q
4Q
1Q
2Q
3Q
Compensation and benefits
256.9
264.7
311.3
84.5
87.7
79.5
75.2
82.8
10.0%
-2.0%
Commissions and floor brokerage
18.9
22.1
31.4
8.1
9.3
9.8
10.1
11.8
16.2%
45.8%
Information
processing
and
communications
79.9
80.9
89.1
20.8
27.3
23.0
27.3
27.2
-0.6%
30.8%
Occupancy and related depreciation
53.7
50.8
50.8
12.4
14.3
13.4
12.9
13.5
5.3%
9.5%
Business development expenses
22.8
26.2
30.6
7.0
9.6
7.2
9.2
8.4
-8.2%
19.9%
Other
72.4
76.6
94.7
21.8
32.8
22.4
23.3
21.1
-9.4%
-3.3%
Total
504.0
521.4
607.8
154.5
180.9
155.3
158.0
164.8
4.3%
6.6%
YoY
QoQ
FY2004.3
FY2005.3
FY2006.3
FY2006.3
FY2007.3
504.0
607.8
521.4
0
100
300
400
500
600
700
Other
Business development
expenses
Occupancy and related
depreciation
Information processing
and communications
Commissions and floor
brokerage
Compensation and
benefits
158.0
155.3
180.9
154.5
164.8
50
100
150
200
250
0
200

Table of Contents
Appendix

Table of Contents
14
FY2007.3
1-3Q
Net income (lhs)
168.0
119.9
172.3
94.7
304.3
142.7
ROE (rhs)
11.1%
7.4%
10.1%
5.2%
15.5%
8.9%
*
Net income per basic share (yen)
85.6
61.3
88.8
48.8
159.0
74.9
Shareholders' equity per share (yen)
816.5
846.4
919.7
962.5
1,083.2
1,159.2
* Annualized
FY2006.3
FY2005.3
FY2002.3
FY2003.3
FY2004.3
0%
5%
10%
15%
20%
304.3
94.7
172.3
119.9
168.0
11.1%
10.1%
15.5%
7.4%
5.2%
0
100
200
300
400
Net income (lhs)
ROE (rhs)
Net Income and ROE
(billions of yen)
8.9%
142.7
Full Year
1Q-3Q

Table of Contents
15
Consolidated Income (Annually)
(billions of yen)
*FY2002.3
includes
3.5
billion
yen
for
equity
in
earnings
(losses)
of
affiliates,
294.9
billion
yen
in
product
sales
(PFG
investee
company),
177.1
billion
yen
in
revenue
from
rental
business
(PFG
investee
company),
and
116.3
billion
yen
gain
from
sale
of
PFG
investee
company.
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.
Full Year
1Q-3Q
FY2006.3
FY2007.3
1-3Q
1-3Q
Commissions
140.0
141.6
210.2
222.0
356.3
238.8
229.8
-3.8%
Fees from investment banking
75.3
81.8
87.0
92.3
108.8
67.4
73.6
9.2%
Asset management and portfolio service fees
110.0
79.3
66.2
78.5
102.7
70.5
101.9
44.6%
Net gain on trading
162.2
172.3
229.0
201.7
304.2
205.2
192.5
-6.2%
Gain (loss) on private equity investments
232.5
-14.4
13.1
7.7
12.3
7.4
47.5
544.6%
Interest and dividends
500.5
368.7
343.3
401.4
693.8
532.4
703.1
32.1%
Gain (loss) on investments in equity securities
-55.9
-41.3
55.9
15.3
67.7
64.6
-20.7
-
Private equity entities product sales
-
6.2
17.6
75.1
88.2
70.4
71.5
1.5%
Other*
660.8
13.4
23.6
32.3
58.8
31.8
61.3
93.0%
1,825.4
807.7
1,045.9
1,126.2
1,792.8
1,288.5
1,460.5
13.4%
504.0
241.4
242.8
327.0
647.2
468.5
680.7
45.3%
1,321.4
566.3
803.1
799.2
1,145.7
819.9
779.8
-4.9%
1,148.4
518.9
520.4
594.4
700.1
501.3
541.2
8.0%
173.0
47.4
282.7
204.8
445.6
318.6
238.6
-25.1%
-
-
-
-
99.4
16.8
-
-
Income before income taxes
173.0
47.4
282.7
204.8
545.0
335.4
238.6
-28.9%
168.0
119.9
172.3
94.7
256.6
173.8
142.7
-17.9%
-
-
-
-
47.7
1.8
-
-
Net income
168.0
119.9
172.3
94.7
304.3
175.7
142.7
-18.8%
Net income from discontinued operations
Net income from continuing operations
Revenue
FY2002.3
FY2003.3
Non-interest expenses
Income from continuing operations before income taxes
FY2006.3
Income from discontinued operations before income taxes
Total revenue
Net revenue
YoY
Interest expense
FY2005.3
FY2004.3

Table of Contents
16
Consolidated Income (Quarterly)
(billions of yen)
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
retroactively
to
the
first
quarter
of
the
fiscal
year
ended
March
31,
2006.
1Q
2Q
3Q
4Q
1Q
2Q
3Q
Commissions
55.2
77.5
106.2
117.5
79.6
66.1
84.2
27.4%
-20.7%
Fees from investment banking
14.7
24.1
28.6
41.5
14.4
26.9
32.3
20.1%
13.1%
Asset management and portfolio service fees
19.9
24.9
25.6
32.2
29.7
35.5
36.7
3.5%
43.5%
Net gain on trading
70.8
43.8
90.6
99.0
55.8
47.5
89.2
87.5%
-1.6%
Gain (loss) on private equity investments
-2.5
2.2
7.6
5.0
9.8
27.5
10.2
-62.8%
34.3%
Interest and dividends
132.9
183.3
216.2
161.4
207.9
232.3
262.9
13.2%
21.6%
Gain (loss) on investments in equity securities
-2.8
31.2
36.2
3.1
-20.5
-0.0
-0.2
-
-
Private equity entities product sales
24.5
22.0
23.9
17.8
21.0
21.7
28.8
32.5%
20.3%
Other
6.9
5.7
19.1
27.0
4.2
11.7
45.4
286.7%
137.4%
319.6
414.8
554.0
504.4
401.7
469.2
589.5
25.6%
6.4%
132.1
142.2
194.2
178.7
195.8
218.2
266.6
22.2%
37.3%
187.5
272.6
359.8
325.7
205.9
251.0
322.9
28.7%
-10.2%
158.4
160.3
182.5
198.7
172.5
177.9
190.8
7.3%
4.5%
29.1
112.3
177.2
127.0
33.4
73.1
132.1
80.8%
-25.5%
1.6
5.3
9.9
82.6
-
-
-
-
-
Income before income taxes
30.7
117.6
187.1
209.6
33.4
73.1
132.1
80.8%
-29.4%
9.1
60.7
104.0
82.8
20.1
43.5
79.1
81.7%
-24.0%
-0.8
0.2
2.4
45.9
-
-
-
-
-
Net income
8.3
60.9
106.5
128.6
20.1
43.5
79.1
81.7%
-25.7%
Net income from continuing operations
Net income from discontinued operations
Net revenue
Non-interest expenses
Income from continuing operations before income taxes
Income from discontinued operations before income taxes
YoY
Revenue
Total revenue
Interest expense
FY2007.3
FY2006.3
QoQ

Table of Contents
17
Main Revenue Items (Annually)
(billions of yen)
*Includes net interest revenue
Full Year
1Q-3Q
Commissions
Fees from
Investment
Banking
Asset Management
and Portfolio
Service Fees
Net Gain on
Trading*
FY2006.3
FY2007.3
1-3Q
1-3Q
Stock brokerage commissions (Domestic Retail)
48.2
92.1
103.0
153.6
109.3
69.4
-36.5%
Stock brokerage commissions (Other)
29.3
45.4
40.2
79.5
38.9
43.1
10.8%
Other brokerage commissions
7.6
12.2
13.0
14.3
11.0
6.6
-39.8%
Commissions for distribution of investment trusts
30.5
37.3
41.7
85.1
59.5
81.9
37.7%
Other
26.0
23.2
24.1
23.8
20.1
28.8
43.0%
Total
141.6
210.2
222.0
356.3
238.8
229.8
-3.8%
Equity underwriting commissions
24.6
44.7
49.1
57.3
35.2
41.8
18.9%
Bond underwriting commissions
37.0
26.4
20.5
21.2
12.6
13.8
9.9%
M&A/Financial advisory fees
16.8
15.8
22.6
30.3
19.5
17.6
-9.6%
Other
3.4
0.1
0.1
0.1
0.1
0.3
185.9%
Total
81.8
87.0
92.3
108.8
67.4
73.6
9.2%
Asset management fees
60.2
44.2
51.1
68.5
47.4
74.0
56.3%
Administration fees
10.0
12.1
16.1
20.6
13.5
16.8
23.9%
Custodial fees
9.1
9.9
11.3
13.6
9.6
11.2
16.4%
Total
79.3
66.2
78.5
102.7
70.5
101.9
44.6%
Bonds and other
133.6
152.3
120.9
150.9
114.5
121.1
5.8%
Equity
35.9
75.2
76.8
148.1
87.1
73.3
-15.8%
Gain on merchant banking trading
2.8
1.5
4.0
5.2
3.6
-2.0
-
Net interest revenue
127.3
100.4
74.3
46.6
63.9
22.4
-64.9%
Total
299.6
329.4
276.0
350.8
269.1
214.9
-20.1%
FY2005.3
FY2006.3
YoY
FY2003.3
FY2004.3

Table of Contents
18
Main Revenue Items (Quarterly)
(billions of yen)
*Includes net interest revenue
Commissions
Fees from
Investment
Banking
Asset Management
and Portfolio
Service Fees
Net Gain on
Trading*
1Q
2Q
3Q
4Q
1Q
2Q
3Q
Stock brokerage commissions (Domestic Retail)
20.8
34.6
53.9
44.2
28.0
18.8
22.6
19.8%
-58.1%
Stock brokerage commissions (Other)
8.0
14.2
16.7
40.6
13.8
11.8
17.4
47.5%
4.3%
Other brokerage commissions
2.8
2.2
6.0
3.3
2.7
1.9
1.9
-0.1%
-67.8%
Commissions for distribution of investment trusts
17.5
19.6
22.4
25.6
25.8
23.1
33.0
42.5%
47.1%
Other
6.1
6.9
7.2
3.7
9.2
10.3
9.3
-10.3%
29.7%
Total
55.2
77.5
106.2
117.5
79.6
66.1
84.2
27.4%
-20.7%
Equity underwriting commissions
4.9
12.4
17.9
22.1
6.3
16.2
19.4
19.9%
8.5%
Bond underwriting commissions
3.6
4.7
4.2
8.6
2.9
4.2
6.7
60.7%
58.8%
M&A/Financial advisory fees
6.2
6.9
6.4
10.8
5.2
6.4
6.1
-4.3%
-4.8%
Other
0.1
0.0
0.1
0.0
0.0
0.2
0.1
-38.3%
58.7%
Total
14.7
24.1
28.6
41.5
14.4
26.9
32.3
20.1%
13.1%
Asset management fees
13.5
16.1
17.8
21.1
21.7
23.9
28.4
18.6%
59.4%
Administration fees
3.4
5.9
4.2
7.1
4.5
7.8
4.4
-43.2%
6.2%
Custodial fees
3.1
2.9
3.6
4.0
3.6
3.7
3.9
4.5%
8.3%
Total
19.9
24.9
25.6
32.2
29.7
35.5
36.7
3.5%
43.5%
Bonds and other
31.7
24.4
58.4
36.4
26.7
34.4
60.0
74.5%
2.8%
Equity
38.9
15.4
32.8
61.0
31.7
12.7
28.9
128.0%
-11.7%
Gain on merchant banking trading
0.2
4.0
-0.6
1.6
-2.6
0.4
0.2
-55.7%
-
Net interest revenue
0.8
41.1
22.0
-17.3
12.1
14.1
-3.7
-
-
Total
71.6
85.0
112.5
81.7
67.8
61.6
85.5
38.7%
-24.1%
YoY
QoQ
FY2006.3
FY2007.3

Table of Contents
19
(billions of yen)
Adjustment of Consolidated Results and Segment Results:
Income before Income Taxes (Annually)
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.
Full Year
1Q-3Q
FY2006.3
FY2007.3
1-3Q
1-3Q
35.7
79.5
81.2
197.2
145.8
117.6
-19.4%
93.6
120.8
60.2
157.7
91.7
34.9
-62.0%
12.8
17.2
29.2
51.5
34.6
32.8
-5.2%
-15.3
0.5
-3.0
55.4
76.4
58.0
-24.1%
4.0
0.5
10.0
20.6
14.9
28.5
91.1%
130.8
218.5
177.5
482.5
363.4
271.6
-25.3%
-41.6
7.0
10.1
-30.5
-12.7
24.4
-
89.2
225.5
187.6
452.0
350.7
296.0
-15.6%
-43.0
54.7
8.4
59.3
56.5
-38.6
-
1.2
2.4
8.9
-65.7
-88.7
-18.9
-
Income from continuing
operations before income taxes
47.4
282.7
204.8
445.6
318.6
238.6
-25.1%
Income from discontinued
operations before income taxes
-
-
-
99.4
16.8
-
-
Total
47.4
282.7
204.8
545.0
335.4
238.6
-28.9%
Unrealized gain (loss) on investments in equity
securities held for relationship purposes
Effects of consolidation/deconsolidation of
certain private equity investee
companies
FY2003.3
FY2004.3
Other
Segment Total
FY2005.3
FY2006.3
YoY
US GAAP
Domestic Retail
Global Markets
Global Investment Banking
Global Merchant Banking
Asset Management
5 Business Segment Total

Table of Contents
20
Adjustment of Consolidated Results and Segment Results:
Income before Income Taxes (Quarterly)
(billions of yen)
Notes:
1.
In
April
2005,
Global
Wholesale
was
reorganized
into
Global
Markets,
Global
Investment
Banking
and
Global
Merchant
Banking.
2. 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. 
3. 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 retroactively to the first quarter of the fiscal year ended
March 31, 2006.
1Q
2Q
3Q
4Q
1Q
2Q
3Q
30.3
41.4
74.1
51.4
42.5
28.2
46.9
66.4%
-36.7%
-0.7
31.5
60.9
66.0
14.3
-3.6
24.1
-
-60.4%
2.2
9.1
23.3
17.0
5.6
16.3
10.9
-32.9%
-53.1%
-5.9
4.7
77.6
-21.0
9.8
41.5
6.7
-83.9%
-91.4%
4.0
4.7
6.2
5.7
5.2
11.1
12.2
9.9%
94.7%
29.9
91.4
242.1
119.1
77.5
93.4
100.8
7.9%
-58.4%
7.6
-9.9
-10.3
-17.9
-23.0
4.3
43.1
902.8%
-
37.4
81.5
231.8
101.2
54.4
97.7
143.9
47.3%
-37.9%
-11.0
31.3
36.3
2.8
-20.6
-4.8
-13.1
-
-
2.7
-0.5
-90.8
23.0
-0.4
-19.8
1.3
-
-
29.1
112.3
177.2
127.0
33.4
73.1
132.1
80.8%
-25.5%
1.6
5.3
9.9
82.6
-
-
-
-
-
30.7
117.6
187.1
209.6
33.4
73.1
132.1
80.8%
-29.4%
QoQ
YoY
FY2006.3
FY2007.3
Income from continuing
operations before income taxes
Income from discontinued
operations before income taxes
Total
Unrealized gain (loss) on investments in equity
securities held for relationship purposes
Effects of consolidation/deconsolidation of
certain private equity investee
companies
Other
Segment Total
US GAAP
Domestic Retail
Global Markets
Global Investment Banking
Global Merchant Banking
Asset Management
5 Business Segment Total

Table of Contents
21
Segment “Other”
Income (Loss) before Income Taxes
(billions of yen)
*
“Others”
for
the
FY2003.3
period
includes
21.2
billion
yen
of
impairment
loss
on
investment
of
affiliates.
Full Year
Quarter
1Q
2Q
3Q
4Q
1Q
2Q
3Q
-41.6
7.0
10.1
-30.5
7.6
-9.9
-10.3
-17.9
-23.0
4.3
43.1
-6.2
-12.8
-9.7
-64.8
-2.8
-8.5
-17.6
-36.0
-11.4
-14.0
-11.9
1.7
1.2
6.9
8.4
8.2
-0.1
0.0
0.3
0.1
4.8
13.0
-3.8
8.5
7.3
27.8
2.7
2.9
8.3
13.9
3.3
6.1
39.0
-9.4
-10.7
4.5
-7.4
0.5
-3.7
-3.6
-0.6
-7.2
3.7
-5.9
-23.9
20.7
1.0
5.5
-1.1
-0.6
2.6
4.5
-7.9
3.7
8.9
FY2007.3
FY2006.3
FY2006.3
FY2003.3
FY2004.3
FY2005.3
Corporate items
Others*
"Other" income before income taxes
Net gain/loss on trading related to
economic hedging transactions
Realized Loss/gain on investment in
equity securities held for relationship
purposes
Equity in losses/earnings of affiliates

Table of Contents
22
Consolidated Balance Sheet
(billions of yen)
Mar. 31, 2006
Dec. 31, 2006
Mar. 31, 2006
Dec. 31, 2006
Cash and cash deposits
1,556
1,033
Short-term borrowings
692
795
Payables and deposits
1,240
1,284
Loans and receivables
1,364
1,645
Collateralized financing
20,263
21,281
Trading liabilities
6,528
6,106
Collateralized agreements
17,028
17,818
Other liabilities
642
638
Long-term borrowings
3,599
4,611
13,697
14,705
Total liabilities
32,963
34,716
Other assets
1,381
1,725
Shareholders' equity
Total shareholders' equity
2,063
2,210
Total assets
35,026
36,926
Total liabilities and shareholders' equity
35,026
36,926
Assets
Liabilities
Trading assets and private equity
investments

Table of Contents
23
Effect of Consolidation/Deconsolidation of Certain Private     
Equity Investee Companies (Non-interest Expenses)
(billions of yen)
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.
Full Year
Quarter
3Q
4Q
1Q
2Q
3Q
Compensation and benefits
259.3
275.0
325.4
87.9
91.2
82.8
79.1
86.7
Fixed-type compensation and benefits
144.3
159.6
170.4
43.2
43.8
43.8
44.3
44.3
Segment total
142.4
151.1
160.7
41.0
41.5
41.7
41.9
41.9
Private equity investee
companies
1.9
8.5
9.7
2.2
2.3
2.1
2.4
2.4
Variable-type compensation and benefits
115.0
115.4
155.0
44.7
47.4
39.0
34.8
42.4
Segment total
114.4
113.6
150.5
43.5
46.2
37.7
33.4
40.9
Private equity investee
companies
0.6
1.8
4.5
1.2
1.2
1.2
1.4
1.5
Commissions and floor brokerage
19.2
23.9
32.9
8.5
9.7
10.3
10.3
12.0
Segment total
18.9
22.1
31.4
8.1
9.3
9.8
10.1
11.8
Private equity investee
companies
0.3
1.8
1.5
0.4
0.4
0.4
0.2
0.2
Information processing and communications
80.0
81.4
89.6
21.0
27.4
23.2
27.4
27.3
Segment total
79.9
80.9
89.1
20.8
27.3
23.0
27.3
27.2
Private equity investee
companies
0.1
0.5
0.5
0.2
0.1
0.2
0.1
0.1
Occupancy and related depreciation
54.2
53.5
55.0
13.4
15.2
14.4
13.7
14.6
Segment total
53.7
50.8
50.8
12.4
14.3
13.4
12.9
13.5
Private equity investee
companies
0.5
2.7
4.3
1.0
0.9
1.0
0.9
1.1
Business development expenses
23.1
28.2
32.8
7.6
10.2
7.8
9.8
9.2
Segment total
22.8
26.2
30.6
7.0
9.6
7.2
9.2
8.4
Private equity investee
companies
0.3
2.0
2.2
0.6
0.6
0.6
0.6
0.8
Other
73.3
87.6
115.4
30.5
38.0
22.7
25.7
23.6
Segment total
72.4
76.6
94.7
21.8
32.8
22.4
23.3
21.1
Private equity investee
companies
0.9
11.0
20.8
8.7
5.3
0.3
2.4
2.5
Private equity entities cost of goods sold
11.9
44.7
48.8
13.7
7.1
11.4
11.8
17.4
Total non-interest expenses
520.4
594.4
700.0
182.5
198.7
172.5
177.9
190.8
Segment total
504.0
521.4
607.8
154.5
180.9
155.3
158.0
164.8
Private equity investee
companies
16.4
73.0
92.2
28.0
17.8
17.2
19.9
26.0
FY2007.3
FY2004.3
FY2005.3
FY2006.3
FY2006.3

Table of Contents
24
* Nomura Securities
Domestic Retail Related Data (1)
Full Year
Quarter
1Q
2Q
3Q
4Q
1Q
2Q
3Q
Retail stock brokerage commissions (billions of yen)
48.2
92.1
103.0
153.6
20.8
34.6
53.9
44.2
28.0
18.8
22.6
Commissions for distribution of investment trusts* (billions of yen)
34.9
46.9
49.9
95.9
19.5
20.9
26.8
28.6
28.0
23.9
33.7
Bond investment trusts commission
16.9
11.1
6.4
3.5
1.1
0.8
0.7
0.8
0.6
0.7
0.5
Stock investment trusts commission
11.6
21.5
31.6
74.2
14.8
16.9
19.1
23.4
23.2
22.1
32.3
Foreign investment trusts commission
6.4
14.2
11.9
18.2
3.7
3.2
7.0
4.4
4.2
1.1
0.9
Domestic distribution volume of investment trusts (trillions of yen)
11.9
13.7
14.2
20.5
3.9
4.7
6.3
5.7
5.0
4.7
5.6
Bond investment trusts
8.6
10.1
10.4
14.3
2.6
3.4
4.4
3.9
3.3
3.0
3.9
Stock investment trusts
1.3
1.6
2.3
4.5
0.9
1.0
1.2
1.4
1.3
1.4
1.6
Foreign investment trusts
2.1
2.1
1.4
1.7
0.4
0.3
0.6
0.4
0.3
0.2
0.2
Other (billions of yen)
Outstanding value of annuity insurance policies (end of the period)
166.6
261.6
446.4
683.3
504.3
562.7
632.8
683.3
791.0
861.1
927.3
Sales of JGBs
for individual investors (transaction base)
101.3
1,271.6
1,290.6
747.8
206.4
179.6
186.4
175.4
189.0
187.3
130.4
Retail foreign currency bond sales
2,284.7
1,990.0
1,154.4
1,119.2
304.8
340.7
268.6
205.1
166.4
195.9
184.5
FY2007.3
FY2006.3
FY2004.3
FY2005.3
FY2003.3
FY2006.3

Table of Contents
25
Domestic Retail Related Data (2)
*Domestic Client Assets = Total of client assets in custody in Domestic Retail (including regional financial institutions) and Financial Management Division.   
Domestic Client Assets*
**Includes CBs and warrants
***Includes variable annuity insurance
Mar. 31, 2003
Mar. 31, 2004
Mar. 31, 2005
Mar. 31, 2006
Jun. 30, 2006
Sep. 30, 2006
Dec. 31, 2006
Equities
17.1
28.9
33.5
49.3
45.6
45.7
47.7
Foreign currency bonds
3.7
4.0
4.0
3.6
3.5
3.5
3.4
Domestic bonds**
8.5
10.0
11.8
13.1
13.4
13.6
14.4
Stock investment trusts
2.2
3.0
3.3
5.3
5.3
5.8
6.8
Bond investment trusts
6.5
5.5
4.9
4.5
4.3
4.3
4.5
Overseas mutual funds
1.1
1.6
1.9
2.3
2.2
2.2
2.2
Other***
1.6
1.7
1.9
2.3
2.5
2.4
2.6
Total
40.6
54.8
61.2
80.5
76.7
77.7
81.5
40.6
54.8
61.2
80.5
76.7
77.7
81.5
0
20
40
60
80
100
Other***
Overseas mutual funds
Bond investment trusts
Stock investment trusts
Domestic bonds**
Foreign currency bonds
Equities
(trillions of yen)

Table of Contents
26
Domestic Retail Related Data (3)
*Domestic Client Assets excluding portion from regional financial institutions
Note: Net Asset Inflow = Asset Inflow –
Asset Outflow
(billions of yen)
Full Year
Quarter
Domestic Client Assets Net Asset Inflow *
1Q
2Q
3Q
FY2003.3
FY2007.3
FY2004.3
FY2005.3
FY2006.3
1,788
3,391
6,749
4,581
0
2,000
4,000
6,000
8,000
2,042
1,009
1,340

Table of Contents
27
Domestic Retail Related Data (4)
*Total of Domestic Retail and Financial Management Division
**IT share is total of cash stock transaction and kabushiki-mini-toshi
(odd lot stock investment).
Number of Accounts*
/
IT Share**
(thousands of accounts)
Mar. 31, 2003
Mar. 31, 2004
Mar. 31, 2005
Mar. 31, 2006
Jun. 30, 2006
Sep. 30, 2006
Dec. 31, 2006
Accounts with balance
3,418
3,460
3,678
3,780
3,815
3,859
3,900
Equity holding accounts
1,311
1,379
1,680
1,745
1,767
1,806
1,819
Nomura Home Trade (online trading accounts)
1,141
1,367
1,716
1,969
2,029
2,094
2,155
1Q
2Q
3Q
(thousands of accounts)
237
297
425
343
86
94
102
IT share**
No. of orders
41%
49%
52%
55%
54%
56%
55%
Transaction value
14%
22%
24%
27%
28%
26%
26%
FY2004.3
FY2005.3
FY2007.3
New accounts (individual)   
FY2006.3
FY2003.3

Table of Contents
28
Global Merchant Banking Related Data   
Notes: 1.
Amount of exposure in Japan is total of Nomura Principal Finance
(NPF), Nomura Financial Partners (NFP) and
Nomura Research & Advisory (NR&A).
2.
Amount of exposure in Europe (excluding Terra Firma) is total of
Private Equity Group (PEG) and Nomura Phase4 Ventures (NPV).
(billions of yen)
Business Exposure
Mar. 31, 2003
Mar. 31, 2004
Mar. 31, 2005
Mar. 31, 2006
Jun. 30, 2006
Sep. 30, 2006
Dec. 31, 2006
Japan
20.1
68.9
108.4
59.9
62.7
174.7
161.2
Europe (excluding Terra Firma)
15.9
15.6
23.7
38.8
35.6
33.8
36.3
Sub Total
35.9
84.5
132.1
98.7
98.4
208.5
197.5
Terra Firma
265.7
291.2
325.5
340.4
271.4
294.9
327.0
Total
301.6
375.7
457.6
439.1
369.7
503.3
524.6
35.9
84.5
132.1
98.7
98.4
208.5
197.5
301.6
375.7
457.6
439.1
369.7
503.3
524.6
0
100
200
300
400
500
600
Terra Firma
Europe (excluding Terra Firma)
Japan

Table of Contents
29
Notes: 1. Total assets under management of Nomura Asset Management, Nomura Corporate Research and Asset  Management, Nomura
Funds Research and Technologies, MAINTRUST (Germany), and Nomura Funds Research and Technologies America. Adjusted for
asset
overlap
amongst
group
companies.
Data
till
June
30,
2006,
include
Nomura
BlackRock
Asset
Management. 
2.  Nomura Funds Research and Technologies America data as of end of November. 
Asset Management Related Data (1)
(trillions of yen)
Total Assets Under Management
Mar. 31, 2003
Mar. 31, 2004
Mar. 31, 2005
Mar. 31, 2006
Jun. 30, 2006
Sep. 30, 2006
Dec. 31, 2006
23.0
15.9
17.6
17.9
23.1
23.0
25.6
0
5
10
15
20
25
30

Table of Contents
30
Public stock investment trusts
Public bond investment trusts
Privately placed investment trusts
Domestic investment advisory
Overseas investment advisory
Asset Management Related Data (2)
(trillions of yen)
(trillions of yen)
Nomura Asset Management Assets Under Management
Mar. 31, 2003
Mar. 31, 2004
Mar. 31, 2005
Mar. 31, 2006
Jun. 30, 2006
Sep. 30, 2006
Dec. 31, 2006
24.5
22.0
20.8
21.0
16.0
15.7
14.2
0
5
10
15
20
25
30
Mar. 31, 2003
Mar. 31, 2004
Mar. 31, 2005
Mar. 31, 2006
Jun. 30, 2006
Sep. 30, 2006
Dec. 31, 2006
10.7
11.3
10.8
14.0
14.1
14.9
17.3
Public stock investment trusts
3.2
4.5
4.4
6.9
7.3
7.7
9.4
Public bond investment trusts
7.3
6.3
5.6
5.6
5.3
5.3
5.8
Privately placed investment trusts
0.2
0.4
0.8
1.5
1.5
1.9
2.1
3.6
4.4
5.1
7.0
6.7
7.1
7.2
Domestic investment advisory
2.9
3.0
3.2
4.0
3.8
3.9
3.7
Overseas investment advisory
0.7
1.4
2.0
3.0
3.0
3.2
3.5
14.2
15.7
16.0
21.0
20.8
22.0
24.5
1Q
2Q
3Q
0.8
0.1
-0.1
1.0
0.9
0.2
1.2
Exclude ETF
0.2
-0.1
0.2
1.4
0.4
0.7
1.1
-3.1
-1.0
-0.7
0.0
-0.3
0.0
0.4
0.1
0.1
0.3
0.5
0.1
0.3
0.2
-2.2
-0.7
-0.5
1.5
0.7
0.5
1.8
Public bond investment trusts
< Net Asset Inflows>
FY2006.3
FY2005.3
FY2003.3
Privately placed investment trusts
Net Asset Inflows
<Assets Under Management>
FY2007.3
Public stock investment trusts
Investment advisory
Total
FY2004.3
Investment trusts

Table of Contents
31
Asset Management Related Data (3)
AUM of Products
Supplied to Banks
and Japan Post
(trillions of yen)
Mar. 31, 2003
Mar. 31, 2004
Mar. 31, 2005
Mar. 31, 2006
Jun. 30, 2006
Sep. 30, 2006
Dec. 31, 2006
Stock investment trusts
3.2
4.5
4.4
6.9
7.3
7.7
9.4
Bond investment trusts
7.3
6.3
5.6
5.6
5.3
5.3
5.8
Public stock investment trusts, Nomura's share (%)
19%
19%
15%
15%
16%
16%
17%
Public bond investment trusts, Nomura's share (%)
40%
40%
42%
42%
42%
42%
43%
Stock investment trusts
16.3
23.3
28.9
45.0
46.1
49.8
55.7
Bond investment trusts
18.1
15.8
13.5
13.5
12.7
12.5
13.3
Source: Investment Trusts Association, Japan
Market Total
Nomura Asset
Management
Domestic Public
Investment Trust
Market and Nomura
Asset Management
Market Share
AUM in Key Funds
(billions of yen)
Mar. 31, 2005
Mar. 31, 2006
Jun. 30, 2006
Sep. 30, 2006
Dec. 31, 2006
Banks*
330
791
883
1,082
1,468
Japan Post
0
90
167
247
349
*excluding The Nomura Trust & Banking
My Story Profit Distribution-type Fund (6 Times/Year) B
0
454
651
922
1,291
Global REIT Open
18
307
377
450
590
Nomura Multi-currency Japan Stock Fund
0
384
417
464
438
Nomura Japan Stock Strategic Fund (Big Project -
N)
353
441
392
383
378
Asia Attractive Dividend Stock Fund
0
0
0
0
354
Nomura Global REIT Fund
0
225
241
293
337
Nomura Fund Masters Global Bond B
165
317
294
281
270
Nomura All-In-One Fund
0
0
0
213
263
Nomura US High Yield Bond Income
345
319
272
258
240
Nomura Japan-US REIT Fund
3
18
37
90
231

Table of Contents
32
Third Quarter Achievements
Large International Bond Underwritings
Dexia Municipal Agency (France):  approx. 200 billion yen
Loan-related
Business:
approx.
70
billion
yen
Equity
Derivatives:
Completed
18
fund
derivative
contracts
(total
amount:
190
million
euros)
Nomura Capital Investment:
Provided loan (approx. 30 billion yen) in conjunction with refinancing of Daiei debt held by IRCJ
Provided loan (21.25 billion yen) to DA Office Investment
Major Deals
IPO
Kyoei Steel: 20.9 billion yen, Nifty: 14.6 billion yen
PO
Toyota Motors: 296.1 billion yen, Aeon: 206.3 billion yen, Toyota Tsusho: 63.9 billion yen, Hokuhoku
Financial Group: 43.4 billion yen
CB
Sharp: 200 billion yen, Ricoh: 55 billion yen, Nomura Research Institute: 50 billion yen
MPO/HPO
Zecs: 10 billion yen; total of 4 deals for 14.5 billion yen (based on resolution dates)
SB
Orix: US dollar-denominated unsecured SB (global dollar bond) USD 1 billion
Toshiba: Unsecured SB (total: 100 billion yen), Seven Bank: Unsecured SB (total: 60 billion yen)
M&A
Sumitomo Corp.’s TOB for Sumisho Lease as part of consolidation of lease business: 192.9 billion yen
Toshiba Ceramics MBO : 119.4 billion yen
Hitachi Metals TOB for NEOMAX: 97 billion yen
Overseas Deals:
Infosys
Technologies
(major
Indian
IT
company)
global
offering:
USD
1.6
billion
Sistema-Hals
(major Russian real estate company) IPO: USD 430 million
Sales of New Investment Trusts
Asia Attractive Dividend Stock Fund (launched Nov. 15, 2006)
351.8 billion yen (as of December 31, 2006)
Nomura
US
High
Yield
Corporate
Bond
Fund
(launched
Nov.
30,
2006)
125.5
billion
yen
(as
of
December 31, 2006)
Nomura Japan REIT Fund
(launched Dec. 18, 2006)
53.2 billion yen (as of December 31, 2006)
Domestic
Retail
Global
Markets
Global
Investment
Banking
Joinvest
Securities
June
September
December
Number of Accounts
40,156
61,554
75,562
Number of Margin Trading Account
1,224
3,182
5,805
Monthly Transaction Value (millions of yen)
54,919
177,096
316,303
Monthly Margin Transaction Value
19,472
100,698
191,666
2006

Table of Contents
33
League Tables
Source: Thomson Financial
Proceeds
(USD mil)
Mkt. Share
No. of
Deals
Rank Value
(USD mil)
Mkt. Share
No. of
Deals
1
Nomura
20,500.6
30.2%
111
1
Goldman Sachs
48,864.0
32.4%
21
2
Daiwa Securities SMBC
12,749.9
18.8%
100
2
UBS
32,865.4
21.8%
31
3
Nikko
Citigroup
10,482.3
15.4%
58
3
Merrill Lynch
29,414.4
19.5%
16
4
Goldman Sachs
8,507.8
12.5%
16
4
Citigroup
28,793.7
19.1%
32
5
Mizuho Financial Group
4,401.1
6.5%
47
5
Nomura
28,184.2
18.7%
154
6
Merrill Lynch
2,702.6
4.0%
12
6
Mizuho Financial Group
25,991.9
17.3%
123
7
UBS
2,413.1
3.6%
10
7
Daiwa Securities SMBC
21,935.6
14.6%
128
8
Morgan Stanley
2,346.0
3.5%
6
8
Deutsche Bank
19,250.3
12.8%
8
9
Mitsubishi UFJ Financial Group
1,324.0
2.0%
33
9
Dresdner Kleinwort
19,169.9
12.7%
4
10
Shinko Securities
777.3
1.1%
35
10
Greenhill&Co,LLC
18,799.9
12.5%
1
Proceeds
(JPY mil)
Mkt. Share
No. of
Issues
Proceeds
(JPY mil)
Mkt. Share
No. of
Issues
1
Nikko
Citigroup
705,117.9
21.3%
57
1
Mizuho Securities
1,433,392.0
28.9%
70
2
Nomura
298,446.2
9.0%
17
2
Daiwa Securities SMBC
1,001,361.5
20.2%
63
3
Mizuho Financial Group
294,437.0
8.9%
13
3
Mitsubishi UFJ Securities
846,716.7
17.1%
46
4
Daiwa Securities SMBC
289,592.5
8.7%
16
4
Nomura
785,239.0
15.9%
51
5
Barclays Capital
249,100.0
7.5%
20
5
Nikko
Citigroup
484,433.0
9.8%
31
6
Merrill Lynch
248,935.2
7.5%
7
6
Goldman Sachs
169,957.5
3.4%
4
7
Morgan Stanley
248,310.3
7.5%
9
7
Merrill Lynch
48,488.7
1.0%
6
8
Deutsche Bank
241,468.5
7.3%
7
8
Shinko Securities
42,000.0
0.9%
4
9
UBS
182,893.9
5.5%
13
9
UBS
25,000.0
0.5%
2
10
Mitsubishi UFJ Financial Group
157,361.0
4.8%
6
10
Morgan Stanley
23,331.0
0.5%
1
Global & Euro Yen Bonds
Domestic Straight Bonds (excluding self-funding)
R
a
n
k
Bookrunner
Jan. 1, 2006 -
Dec. 31, 2006
R
a
n
k
Bookrunner
Apr. 1, 2006 -
Dec. 31, 2006
Global Equity & Equity-related (Japan)
Any Japanese Involvement Financial Advisors
Announced deals, value base
R
a
n
k
Bookrunner
Jan. 1, 2006 -
Dec. 31, 2006
R
a
n
k
Advisor
Jan. 1, 2006 -
Dec. 31, 2006

Table of Contents
34
Market Share Data
(trillions of yen)
Secondary Market
Share Data             
Primary Market
Share Data
Full Year
Quarter
1Q
2Q
3Q
Individual Equity Agency Transactions Share
Market
52.0
105.9
144.7
308.3
74.2
58.7
60.6
Nomura's share
16%
10%
8%
7%
5%
4%
5%
Off-floor/Off-exchange Equity Trading Share
Off-floor market
33.2
31.9
33.2
48.6
13.9
9.5
12.3
Off-exchange
14.1
19.3
21.1
30.5
9.6
9.8
10.6
Nomura's share
20%
16%
17%
21%
22%
18%
21%
JGB Auction Share
Market
68.1
74.4
80.1
80.7
21.1
21.2
21.8
Nomura's share
15%
16%
18%
11%
12%
9%
11%
Bond Secondary Trading Share
Market
1,129
1,235
1,361
1,296
355
329
334
Nomura's share
14%
16%
15%
13%
12%
10%
10%
FY2007.3
1-3Q
(accumulated)
Global Equity and Equity-related Japan
Nomura's share
30%
30%
25%
26%
31%
Japanese IPO
Nomura's share
11%
27%
32%
20%
18%
Japanese PO
Nomura's share
50%
33%
25%
27%
38%
Convertible Bonds
Nomura's share
13%
28%
19%
34%
34%
Global and Euro Yen Bonds
Nomura's share
21%
31%
23%
23%
7%
Straight Bonds, Lead Manager (excl. self-funding)
Nomura's share
26%
19%
17%
18%
13%
Source: Thomson Financial (Value base)
FY2006.3
FY2005.3
FY2007.3
FY2006.3
FY2003.3
FY2004.3
FY2005.3
FY2003.3
FY2004.3

Table of Contents
35
Value at Risk
Definition
99% confidence level (2.33 standard dev.)
1-day time horizon for outstanding portfolio
Inter-product price fluctuations considered
From April 3, 2006 to December 29, 2006 (billions of yen)
Maximum:
9.4
Minimum:
5.8
Average:
7.4
(billions of yen)
Equity
1.5
3.3
3.0
6.0
5.4
6.0
5.6
Interest Rate
2.3
2.0
2.8
3.3
4.1
3.5
4.0
Foreign Exchange
0.2
0.5
0.7
1.4
1.5
1.3
1.4
Sub-total
4.0
5.8
6.5
10.7
11.0
10.9
11.0
Diversification Benefit
-0.9
-1.9
-2.4
-3.7
-3.8
-3.5
-3.9
VaR
3.1
3.9
4.1
7.0
7.1
7.3
7.2
Mar. 2006
Dec. 2006
Mar. 2003
Mar. 2004
Mar. 2005
Sep. 2006
Jun. 2006

Table of Contents
36
Number of Employees
*Excludes employees of private equity investee companies
Mar. 2003
Mar. 2004
Mar. 2005
Mar. 2006
Dec. 2006
+/-
From
Mar. 2006
Japan (excluding FA, SA)*
9,258
9,148
9,190
9,354
9,893
+539
Japan (FA, SA)
1,986
1,915
1,875
1,948
2,213
+265
Europe
1,389
1,403
1,535
1,515
1,576
+61
Americas
797
866
1,026
1,073
1,008
-65
Asia/Oceania
616
655
718
778
838
+60
Total
14,046
13,987
14,344
14,668
15,528
+860

Table of Contents
37
Nomura Holdings, Inc.
www.nomura.com