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 January 2013

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 2012

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

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 31, 2013	By:	/s/ EIJI MIURA
		Eiji Miura
		Senior Managing Director

Financial Summary For the Nine Months Ended December 31, 2012 (U.S. GAAP)


Date:		January 31, 2013
Company name (code number):		Nomura Holdings, Inc. (8604)
Stock exchange listings:		(In Japan) Tokyo, Osaka, 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
	2011						2012
	(Millions of yen, except per share data)
				% Change from December 31, 2010						% Change from December 31, 2011
Total revenue		1,286,358			26.1	%		1,359,800			5.7	%
Net revenue		1,036,891			24.7	%		1,160,019			11.9	%
Income before income taxes		24,199			(56.7	%)		68,048			181.2	%
Net income (loss) attributable to Nomura Holdings, Inc. (“NHI”) shareholders		(10,499	)		—	%		24,812			—	%
Comprehensive income (loss)		(43,696	)		—	%		41,121			—	%
Basic-Net income (loss) attributable to NHI shareholders per share (Yen)		(2.89	)					6.73
Diluted-Net income (loss) attributable to NHI shareholders per share (Yen)		(2.89	)					6.60
Return on shareholders’ equity – annualized		(0.7	%)					1.5	%

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

(2) Financial Position


	At March 31			At December 31
	2012			2012
	(Millions of yen, except per share data)
Total assets		35,697,312			38,562,229
Total equity		2,389,137			2,435,083
Total NHI shareholders’ equity		2,107,241			2,167,890
Total NHI shareholders’ equity as a percentage of total assets		5.9	%		5.6	%
Total NHI shareholders’ equity per share (Yen)		575.20			585.27

2. Cash dividends


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

Note: Fiscal year 2013 Q4 dividend amount is not presented per reasons stated in “3. Earnings forecasts for the year ending March 31, 2013”.

3. Earnings forecasts for the year ending March 31, 2013

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: None

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

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

(3) Changes in accounting policies

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

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

(4) Number of shares issued (common stock)


	At March 31		At December 31
	2012		2012
Number of shares outstanding (including treasury stock)		3,822,562,601		3,822,562,601
Number of treasury stock		159,078,706		118,489,405

	For the nine months ended December 31
	2011		2012
Average number of shares outstanding (year-to-date)		3,637,598,549		3,687,924,842

*Quarterly review

The review process of the quarterly consolidated financial statements for this period has not been completed by the external auditors at the point of disclosing this financial summary. As a result of such review, certain of the information set forth herein could be subject to revision, possibly material, in the quarterly securities report for the period ended December 31, 2012, 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, 2011 (A)			December 31, 2012 (B)			(B-A)/(A)
Net revenue		1,036.9			1,160.0			11.9
Non-interest expenses		1,012.7			1,092.0			7.8

Income (loss) before income taxes		24.2			68.0			181.2
Income tax expense		25.9			56.5			118.5

Net income (loss)		(1.7	)		11.5			—

Less: Net income (loss) attributable to noncontrolling interests		8.8			(13.3	)		—

Net income (loss) attributable to NHI shareholders		(10.5	)		24.8			—

Return on shareholders’ equity * – annualized		(0.7	%)		1.5	%		—

*	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 1,160.0 billion yen for the nine months ended December 31, 2012, an increase of 11.9% from the same period in the prior year. Non-interest expenses increased by 7.8% from the same period in the prior year to 1,092.0 billion yen. Income before income taxes was 68.0 billion yen and Net income attributable to NHI shareholders was 24.8 billion yen for the nine months ended December 31, 2012.

Segment Information


	Billions of yen				% Change
	For the nine months ended				(B-A)/(A)
	December 31, 2011 (A)		December 31, 2012 (B)		(B-A)/(A)
Net revenue		1,043.0		1,145.1		9.8
Non-interest expenses		1,012.7		1,092.0		7.8

Income (loss) before income taxes		30.3		53.1		75.3

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, 2012 was 1,145.1 billion yen, an increase of 9.8% from the same period in the prior year. Non-interest expenses increased by 7.8% from the same period in the prior year to 1,092.0 billion yen. Income before income taxes was 53.1 billion yen for the nine months ended December 31, 2012. 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, 2011 (A)		December 31, 2012 (B)		(B-A)/(A)
Net revenue		257.9		259.2		0.5
Non-interest expenses		215.0		215.8		0.3

Income (loss) before income taxes		42.8		43.4		1.3

Net revenue increased by 0.5% from the same period in the prior year to 259.2 billion yen. Commissions for distribution of investment trusts and brokerage commissions remained almost the same level. Non-interest expenses increased by 0.3% to 215.8 billion yen. As a result, Income before income taxes increased by 1.3% to 43.4 billion yen.

Operating Results of Asset Management


	Billions of yen				% Change
	For the nine months ended				(B-A)/(A)
	December 31, 2011 (A)		December 31, 2012 (B)		(B-A)/(A)
Net revenue		50.1		50.6		1.1
Non-interest expenses		33.7		33.4		(0.9	)

Income (loss) before income taxes		16.4		17.2		5.2

Net revenue increased by 1.1% from the same period in the prior year to 50.6 billion yen. Non-interest expenses decreased by 0.9% to 33.4 billion yen. As a result, Income before income taxes increased by 5.2% to 17.2 billion yen. Assets under management were 25.1 trillion yen at the end of December 2012.

Operating Results of Wholesale


	Billions of yen					% Change
	For the nine months ended					(B-A)/(A)
	December 31, 2011 (A)			December 31, 2012 (B)		(B-A)/(A)
Net revenue		396.7			447.9		12.9
Non-interest expenses		446.2			411.9		(7.7	)

Income (loss) before income taxes		(49.5	)		36.0		—

Note:

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

Net revenue increased by 12.9% from the same period in the prior year to 447.9 billion yen, due primarily to increasing net trading gains. Non-interest expenses decreased by 7.7% to 411.9 billion yen. As a result, Income before income taxes was 36.0 billion yen.

Other Operating Results


	Billions of yen					% Change
	For the nine months ended					(B-A)/(A)
	December 31, 2011 (A)		December 31, 2012 (B)			(B-A)/(A)
Net revenue		338.4		387.3			14.5
Non-interest expenses		317.8		430.9			35.6

Income (loss) before income taxes		20.6		(43.5	)		—

Note:

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

Net revenue was 387.3 billion yen. Loss before income taxes was 43.5 billion yen.

(2)

Consolidated Financial Position

Total assets as of December 31, 2012, were 38.6 trillion yen, an increase of 2.9 trillion yen compared to March 31, 2012, mainly due to the increase in Trading assets. Total liabilities as of December 31, 2012 were 36.1 trillion yen, an increase of 2.8 trillion yen compared to March 31, 2012, mainly due to the increase in Securities sold under agreements to repurchase. Total equity as of December 31, 2012 was 2.4 trillion yen, an increase of 45.9 billion yen compared to March 31, 2012.

(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, 2012) and Form 20-F (the annual report filed with the U.S. Securities and Exchange Commission on June 27, 2012) for the year ended March 31, 2012.

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

(1)

Consolidated Balance Sheets (UNAUDITED)


	Millions of yen
	March 31, 2012			December 31, 2012			Increase/ (Decrease)
ASSETS
Cash and cash deposits:
Cash and cash equivalents		1,070,520			820,045			(250,475	)
Time deposits		653,462			439,082			(214,380	)
Deposits with stock exchanges and other segregated cash		229,695			264,418			34,723

Total cash and cash deposits		1,953,677			1,523,545			(430,132	)

Loans and receivables:
Loans receivable		1,293,372			1,296,883			3,511
Receivables from customers		58,310			79,855			21,545
Receivables from other than customers		864,629			884,240			19,611
Allowance for doubtful accounts		(4,888	)		(4,361	)		527

Total loans and receivables		2,211,423			2,256,617			45,194

Collateralized agreements:
Securities purchased under agreements to resell		7,662,748			8,379,315			716,567
Securities borrowed		6,079,898			5,096,044			(983,854	)

Total collateralized agreements		13,742,646			13,475,359			(267,287	)

Trading assets and private equity investments:
Trading assets*		13,921,639			17,566,074			3,644,435
Private equity investments		201,955			89,545			(112,410	)

Total trading assets and private equity investments		14,123,594			17,655,619			3,532,025

Other assets:
Office buildings, land, equipment and facilities (net of accumulated depreciation and amortization of ¥355,804 million as of March 31, 2012 and ¥383,691 million as of December 31, 2012)		1,045,950			1,097,812			51,862
Non-trading debt securities*		862,758			945,236			82,478
Investments in equity securities*		88,187			101,784			13,597
Investments in and advances to affiliated companies*		193,954			201,079			7,125
Other		1,475,123			1,305,178			(169,945	)

Total other assets		3,665,972			3,651,089			(14,883	)

Total assets		35,697,312			38,562,229			2,864,917

*	Including securities pledged as collateral


	Millions of yen
	March 31, 2012			December 31, 2012			Increase/ (Decrease)
LIABILITIES AND EQUITY
Short-term borrowings		1,185,613			933,756			(251,857	)
Payables and deposits:
Payables to customers		764,857			457,551			(307,306	)
Payables to other than customers		767,860			759,508			(8,352	)
Deposits received at banks		904,653			961,405			56,752

Total payables and deposits		2,437,370			2,178,464			(258,906	)

Collateralized financing:
Securities sold under agreements to repurchase		9,928,293			13,110,371			3,182,078
Securities loaned		1,700,029			2,267,597			567,568
Other secured borrowings		890,952			913,630			22,678

Total collateralized financing		12,519,274			16,291,598			3,772,324

Trading liabilities		7,495,177			7,246,288			(248,889	)
Other liabilities		1,165,901			1,125,264			(40,637	)
Long-term borrowings		8,504,840			8,351,776			(153,064	)

Total liabilities		33,308,175			36,127,146			2,818,971


Equity
NHI shareholders’ equity:
Common stock
Authorized - 6,000,000,000 shares
Issued - 3,822,562,601 shares as of March 31, 2012 and 3,822,562,601 shares as of December 31, 2012
Outstanding - 3,663,483,895 shares as of March 31, 2012 and 3,704,073,196 shares as of December 31, 2012		594,493			594,493			—
Additional paid-in capital		698,771			689,680			(9,091	)
Retained earnings		1,058,945			1,076,367			17,422
Accumulated other comprehensive income (loss)		(145,149	)		(117,931	)		27,218

Total NHI shareholders’ equity before treasury stock		2,207,060			2,242,609			35,549
Common stock held in treasury, at cost -
159,078,706 shares as of March 31, 2012 and
118,489,405 shares as of December 31, 2012		(99,819	)		(74,719	)		25,100

Total NHI shareholders’ equity		2,107,241			2,167,890			60,649

Noncontrolling interests		281,896			267,193			(14,703	)

Total equity		2,389,137			2,435,083			45,946

Total liabilities and equity		35,697,312			38,562,229			2,864,917

(2)

Consolidated Statements of Income (UNAUDITED)


	Millions of yen						% Change
	For the nine months ended						(B-A)/(A)
	December 31, 2011 (A)			December 31, 2012 (B)			(B-A)/(A)
Revenue:
Commissions		256,689			233,327			(9.1	)
Fees from investment banking		44,835			40,541			(9.6	)
Asset management and portfolio service fees		109,165			102,241			(6.3	)
Net gain on trading		173,631			261,516			50.6
Gain on private equity investments		26,286			6,543			(75.1	)
Interest and dividends		343,442			296,048			(13.8	)
Gain (loss) on investments in equity securities		(5,919	)		14,767			—
Other		338,229			404,817			19.7

Total revenue		1,286,358			1,359,800			5.7
Interest expense		249,467			199,781			(19.9	)

Net revenue		1,036,891			1,160,019			11.9

Non-interest expenses:
Compensation and benefits		406,659			392,967			(3.4	)
Commissions and floor brokerage		69,518			66,800			(3.9	)
Information processing and communications		133,488			130,341			(2.4	)
Occupancy and related depreciation		73,247			68,429			(6.6	)
Business development expenses		34,391			34,553			0.5
Other		295,389			398,881			35.0

Total non-interest expenses		1,012,692			1,091,971			7.8

Income before income taxes		24,199			68,048			181.2
Income tax expense		25,870			56,520			118.5

Net income (loss)		(1,671	)		11,528			—

Less: Net income (loss) attributable to noncontrolling interests		8,828			(13,284	)		—

Net income (loss) attributable to NHI shareholders		(10,499	)		24,812			—


	Yen						% Change
Per share of common stock:
Basic-
Net income (loss) attributable to NHI shareholders per share		(2.89	)		6.73			—

Diluted-
Net income (loss) attributable to NHI shareholders per share		(2.89	)		6.60			—

(3)

Consolidated Statements of Comprehensive Income (UNAUDITED)


	Millions of yen						% Change
	For the nine months ended
	December 31, 2011 (A)			December 31, 2012 (B)			(B-A)/(A)
Net income (loss)		(1,671	)		11,528			—
Other comprehensive income (loss):
Change in cumulative translation adjustments, net of tax		(41,426	)		21,374			—
Defined benefit pension plans:
Pension liability adjustment		1,263			5,612			344.3
Deferred income taxes		(643	)		(1,547	)		—

Total		620			4,065			555.6

Non-trading securities:
Net unrealized gain (loss) on non-trading securities		(1,219	)		5,393			—
Deferred income taxes		—			(1,239	)		—

Total		(1,219	)		4,154			—

Total other comprehensive income (loss)		(42,025	)		29,593			—

Comprehensive income (loss)		(43,696	)		41,121			—
Less: Comprehensive income (loss) attributable to noncontrolling interests		7,245			(10,909	)		—

Comprehensive income (loss) attributable to NHI shareholders		(50,941	)		52,030			—

(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.


	Millions of yen						% Change
	For the nine months ended
	December 31, 2011 (A)			December 31, 2012 (B)			(B-A)/(A)
Net revenue

Business segment information:
Retail		257,882			259,176			0.5
Asset Management		50,095			50,643			1.1
Wholesale		396,650			447,945			12.9

Subtotal		704,627			757,764			7.5
Other		338,365			387,323			14.5

Net revenue		1,042,992			1,145,087			9.8

Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes		(6,101	)		14,932			—

Net revenue		1,036,891			1,160,019			11.9


Non-interest expenses

Business segment information:
Retail		215,040			215,766			0.3
Asset Management		33,693			33,395			(0.9	)
Wholesale		446,158			411,946			(7.7	)

Subtotal		694,891			661,107			(4.9	)
Other		317,801			430,864			35.6

Non-interest expenses		1,012,692			1,091,971			7.8

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

Non-interest expenses		1,012,692			1,091,971			7.8


Income (loss) before income taxes

Business segment information:
Retail		42,842			43,410			1.3
Asset Management		16,402			17,248			5.2
Wholesale		(49,508	)		35,999			—

Subtotal		9,736			96,657			892.8
Other *		20,564			(43,541	)		—

Income (loss) before income taxes		30,300			53,116			75.3

Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes		(6,101	)		14,932			—

Income (loss) before income taxes		24,199			68,048			181.2

*	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, 2011 (A)			December 31, 2012 (B)			(B-A)/(A)
Net gain (loss) related to economic hedging transactions		10,453			148			(98.6	)
Realized gain (loss) on investments in equity securities held for operating purposes		182			(165	)		—
Equity in earnings of affiliates		6,746			9,168			35.9
Corporate items		(25,035	)		(15,220	)		—
Other		28,218			(37,472	)		—

Total		20,564			(43,541	)		—

Note:

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

(6)

Significant Changes in Equity (UNAUDITED)

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


	Millions of yen
	For the nine months ended December 31, 2012
Common stock
Balance at beginning of year		594,493

Balance at end of period		594,493

Additional paid-in capital
Balance at beginning of year		698,771
Gain (loss) on sales of treasury stock		(1,589	)
Issuance and exercise of common stock options		(7,560	)
Other net change in additional paid-in capital		58

Balance at end of period		689,680

Retained earnings
Balance at beginning of year		1,058,945
Net income attributable to NHI shareholders		24,812
Cash dividends		(7,390	)

Balance at end of period		1,076,367

Accumulated other comprehensive income (loss)
Cumulative translation adjustments
Balance at beginning of year		(110,652	)
Net change during the period		20,128

Balance at end of period		(90,524	)

Defined benefit pension plans
Balance at beginning of year		(35,132	)
Pension liability adjustment		3,980

Balance at end of period		(31,152	)

Non-trading securities
Balance at beginning of year		635
Net unrealized gain on non-trading securities		3,110

Balance at end of period		3,745



Balance at end of period		(117,931	)

Common stock held in treasury
Balance at beginning of year		(99,819	)
Repurchases of common stock		(4	)
Sale of common stock		0
Common stock issued to employees		25,309
Other net change in treasury stock		(205	)

Balance at end of period		(74,719	)

Total NHI shareholders’ equity

Balance at end of period		2,167,890

Noncontrolling interests
Balance at beginning of year		281,896
Net change during the period		(14,703	)

Balance at end of period		267,193

Total equity

Balance at end of period		2,435,083

3.	Supplementary Information

(1)

Consolidated Statements of Income – Quarterly Comparatives (UNAUDITED)


	Millions of yen																				% Change			Millions of yen
	For the three months ended																							For the year ended March 31, 2012
	June 30, 2011			September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012			September 30, 2012 (A)		December 31, 2012 (B)			(B-A)/(A)			For the year ended March 31, 2012
Revenue:
Commissions		96,780			85,926			73,983			90,446			77,367			72,279		83,681			15.8			347,135
Fees from investment banking		13,770			13,819			17,246			14,803			10,383			17,131		13,027			(24.0	)		59,638
Asset management and portfolio service fees		39,055			36,712			33,398			35,086			33,813			33,411		35,017			4.8			144,251
Net gain on trading		67,500			25,984			80,147			98,926			84,399			88,929		88,188			(0.8	)		272,557
Gain (loss) on private equity investments		(5,950	)		(2,315	)		34,551			(1,188	)		(5,387	)		299		11,631			—			25,098
Interest and dividends		133,087			107,288			103,067			92,448			103,469			92,834		99,745			7.4			435,890
Gain (loss) on investments in equity securities		(597	)		(2,544	)		(2,778	)		9,924			(7,061	)		12,970		8,858			(31.7	)		4,005
Other		83,365			112,977			141,887			224,957			142,610			143,373		118,834			(17.1	)		563,186

Total revenue		427,010			377,847			481,501			565,402			439,593			461,226		458,981			(0.5	)		1,851,760
Interest expense		96,645			76,258			76,564			66,434			70,339			59,547		69,895			17.4			315,901

Net revenue		330,365			301,589			404,937			498,968			369,254			401,679		389,086			(3.1	)		1,535,859

Non-interest expenses:
Compensation and benefits		136,307			142,569			127,783			127,989			124,573			133,696		134,698			0.7			534,648
Commissions and floor brokerage		24,058			22,939			22,521			23,982			21,978			21,904		22,918			4.6			93,500
Information processing and communications		43,547			43,544			46,397			43,660			42,524			45,145		42,672			(5.5	)		177,148
Occupancy and related depreciation		20,692			26,371			26,184			27,644			24,110			22,140		22,179			0.2			100,891
Business development expenses		9,335			12,333			12,723			14,097			11,329			11,173		12,051			7.9			48,488
Other		62,068			98,465			134,856			200,838			125,074			132,204		141,603			7.1			496,227

Total non-interest expenses		296,007			346,221			370,464			438,210			349,588			366,262		376,121			2.7			1,450,902

Income (loss) before income taxes		34,358			(44,632	)		34,473			60,758			19,666			35,417		12,965			(63.4	)		84,957
Income tax expense (benefit)		16,320			(373	)		9,923			33,033			13,590			30,056		12,874			(57.2	)		58,903

Net income (loss)		18,038			(44,259	)		24,550			27,725			6,076			5,361		91			(98.3	)		26,054

Less: Net income (loss) attributable to noncontrolling interests		267			1,833			6,728			5,643			4,185			2,552		(20,021	)		—			14,471

Net income (loss) attributable to NHI shareholders		17,771			(46,092	)		17,822			22,082			1,891			2,809		20,112			616.0			11,583


	Yen																				% Change			Yen
Per share of common stock:
Basic-
Net income (loss) attributable to NHI shareholders per share		4.93			(12.64	)		4.87			6.03			0.51			0.76		5.44			615.8			3.18

Diluted-
Net income (loss) attributable to NHI shareholders per share		4.90			(12.65	)		4.84			5.92			0.50			0.74		5.33			620.3			3.14

(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, 2012
	June 30, 2011			September 30, 2011			December 31, 2011			March 31, 2012		June 30, 2012			September 30, 2012 (A)		December 31, 2012 (B)			(B-A)/(A)			For the year ended March 31, 2012

Net revenue

Business segment information:
Retail		94,189			83,980			79,713			92,376		82,711			80,786		95,679			18.4			350,258
Asset Management		18,843			15,951			15,301			15,705		16,418			15,439		18,786			21.7			65,800
Wholesale		139,962			81,570			175,118			158,399		121,883			137,094		188,968			37.8			555,049

Subtotal		252,994			181,501			270,132			266,480		221,012			233,319		303,433			30.1			971,107
Other		78,649			122,449			137,267			222,580		154,567			156,003		76,753			(50.8	)		560,945

Net revenue		331,643			303,950			407,399			489,060		375,579			389,322		380,186			(2.3	)		1,532,052

Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes		(1,278	)		(2,361	)		(2,462	)		9,908		(6,325	)		12,357		8,900			(28.0	)		3,807

Net revenue		330,365			301,589			404,937			498,968		369,254			401,679		389,086			(3.1	)		1,535,859


Non-interest expenses

Business segment information:
Retail		72,176			73,250			69,614			72,088		70,523			69,824		75,419			8.0			287,128
Asset Management		11,397			11,238			11,058			11,588		11,048			10,879		11,468			5.4			45,281
Wholesale		155,880			152,223			138,055			146,543		130,434			136,901		144,611			5.6			592,701

Subtotal		239,453			236,711			218,727			230,219		212,005			217,604		231,498			6.4			925,110
Other		56,554			109,510			151,737			207,991		137,583			148,658		144,623			(2.7	)		525,792

Non-interest expenses		296,007			346,221			370,464			438,210		349,588			366,262		376,121			2.7			1,450,902

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

Non-interest expenses		296,007			346,221			370,464			438,210		349,588			366,262		376,121			2.7			1,450,902


Income (loss) before income taxes

Business segment information:
Retail		22,013			10,730			10,099			20,288		12,188			10,962		20,260			84.8			63,130
Asset Management		7,446			4,713			4,243			4,117		5,370			4,560		7,318			60.5			20,519
Wholesale		(15,918	)		(70,653	)		37,063			11,856		(8,551	)		193		44,357			—			(37,652	)

Subtotal		13,541			(55,210	)		51,405			36,261		9,007			15,715		71,935			357.7			45,997
Other*		22,095			12,939			(14,470	)		14,589		16,984			7,345		(67,870	)		—			35,153

Income (loss) before income taxes		35,636			(42,271	)		36,935			50,850		25,991			23,060		4,065			(82.4	)		81,150

Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes		(1,278	)		(2,361	)		(2,462	)		9,908		(6,325	)		12,357		8,900			(28.0	)		3,807

Income (loss) before income taxes		34,358			(44,632	)		34,473			60,758		19,666			35,417		12,965			(63.4	)		84,957

*	Major components

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

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


	Millions of yen																					% Change			Millions of yen
	For the three months ended																					(B-A)/(A)			For the year ended March 31, 2012
	June 30, 2011			September 30, 2011			December 31, 2011			March 31, 2012			June 30, 2012			September 30, 2012 (A)			December 31, 2012 (B)			(B-A)/(A)			For the year ended March 31, 2012
Net gain (loss) related to economic hedging transactions		(1,505	)		4,221			7,737			(2,081	)		(1,231	)		964			415			(57.0	)		8,372
Realized gain (loss) on investments in equity securities held for operating purposes		681			(183	)		(316	)		16			(736	)		613			(42	)		—			198
Equity in earnings of affiliates		3,475			1,970			1,301			3,867			1,273			3,346			4,549			36.0			10,613
Corporate items		12,618			(8,616	)		(29,037	)		(7,094	)		6,624			(7,044	)		(14,800	)		—			(32,129	)
Other		6,826			15,547			5,845			19,881			11,054			9,466			(57,992	)		—			48,099

Total		22,095			12,939			(14,470	)		14,589			16,984			7,345			(67,870	)		—			35,153

Note:

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

(3)

Unconsolidated Quarterly Financial Statements [Japanese GAAP]

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

Nomura Holdings, Inc.

Unconsolidated Balance Sheets

(UNAUDITED)


	Millions of yen
	March 31, 2012		December 31, 2012
Assets
Current Assets		2,782,409		2,888,726
Fixed Assets		2,655,775		2,587,512

Total Assets		5,438,184		5,476,238

Liabilities
Current Liabilities		1,069,394		767,161
Long-term Liabilities		2,527,391		2,841,823

Total Liabilities		3,596,785		3,608,984

Net Assets
Shareholders’ equity		1,719,153		1,767,179
Valuation and translation adjustments		71,654		56,891
Stock acquisition rights		50,592		43,184

Total Net Assets		1,841,400		1,867,254

Total Liabilities and Net Assets		5,438,184		5,476,238

Nomura Holdings, Inc.

Unconsolidated Statements of Income

(UNAUDITED)


	Millions of yen
	For the nine months ended
	December 31, 2011			December 31, 2012
Operating revenue		205,301			220,634
Operating expenses		165,606			149,536

Operating income		39,695			71,098

Non-operating income		2,582			1,827
Non-operating expenses		3,126			8,257

Ordinary income		39,151			64,668

Special profits		13,252			7,116
Special losses		25,276			22,364

Income before income taxes		27,127			49,420

Income taxes - current		6,514			1,416
Income taxes - deferred		(1,015	)		8,734

Net income		21,628			39,270

(4)

Other

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

http://www.nomuraholdings.com/company/group/nsc/pdf/2013_3q.pdf