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 November 2002.

Total number of pages: 44.

The exhibit index is located on page 2.

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

Yes ¨ No x

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

Information furnished on this form:

EXHIBITS

Exhibit Number		Page Number

1.	[Consolidated Results of Operations—Second quarter, fiscal year ended March 2003]	1

2.	[Quarterly Financial Highlights—Year ended March 2002]	36

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.

By:		/s/ MASANORI ITATANI
		Masanori Itatani Director

Date: November 1, 2002

October 31, 2002

Quarterly Financial Highlights – Year ended March 2002

We are pleased to report the following consolidated quarterly financial highlights based on consolidated financial information under US GAAP for the year ended March 2002.

For further information, please contact:

Koichi Ikegami

General Manager

Investor Relations Department

Nomura Group Headquarters

Nomura Securities Co., Ltd.

9-1 Nihonbashi 1-chome, Chuo-ku

Tokyo 103-8011, Japan

TEL: +813-3211-1811

The following unaudited financial highlights are not intended to comply with Regulation S-X and therefore should not be construed to include all information required for interim financial information under Regulation S-X.

NOMURA HOLDINGS, INC.

CONSOLIDATED INCOME STATEMENT INFORMATION

(Unaudited)

	Millions of yen
	For the three months ended June 30, 2001			For the six months ended September 30, 2001			For the nine months ended December 31, 2001			For the year ended March 31, 2002
Revenue:
Commissions	¥	39,597		¥	70,568		¥	105,155		¥	140,001
Fees from investment banking		14,122			37,029			56,661			75,255
Asset management and portfolio service fees		29,639			57,404			83,099			109,985
Net gain on trading		72,780			82,904			130,683			162,228
Interest and dividends		182,491			312,345			419,750			500,541
Loss on investments in equity securities		(1,423	)		(43,158	)		(56,528	)		(55,860	)
Profit from changes in equity of an affiliated company		—			—			3,504			3,504
PFG entities product sales		86,528			154,093			221,927			294,931
PFG entities rental income		28,210			64,853			120,919			177,053
Gain on sales of PFG entities		—			—			—			116,324
Gain on private equity investments		—			—			—			232,472
Other		18,422			38,347			53,225			68,965

Total revenue		470,366			774,385			1,138,395			1,825,399
Interest expense		180,203			313,545			421,302			504,048

Net revenue		290,163			460,840			717,093			1,321,351

Non-interest expenses:
Compensation and benefits		80,091			176,935			251,708			379,540
Commissions and floor brokerage		4,891			10,161			15,409			20,962
Information processing and communications		19,825			40,326			62,869			87,252
Occupancy and related depreciation		20,671			36,530			52,308			73,787
Business development expenses		6,029			13,950			19,373			26,652
PFG entities cost of goods sold		61,387			107,035			153,527			200,871
PFG entities expenses associated with rental income		15,040			33,284			70,167			111,529
Other		29,358			164,687			196,188			247,786

		237,292			582,908			821,549			1,148,379

Income before income taxes		52,871			(122,068	)		(104,456	)		172,972

Income tax expense(benefit):
Current		15,224			25,392			42,948			61,898
Deferred		11,505			(69,609	)		(71,495	)		(56,972	)

		26,729			(44,217	)		(28,547	)		4,926

Net income	¥	26,142		¥	(77,851	)	¥	(75,909	)	¥	168,046


Per share of common stock:	Yen

Net income—Basic	¥	13.32		¥	(39.66	)	¥	(38.66	)	¥	85.57
—Diluted	¥	13.30		¥	(39.66	)	¥	(38.66	)	¥	85.32

NOMURA HOLDINGS, INC.

CONSOLIDATED INCOME STATEMENT INFORMATION

(Unaudited)

	Millions of yen
	For the three months ended
	June 30, 2001			September 30, 2001			December 31, 2001			March 31, 2002
Revenue:
Commissions	¥	39,597		¥	30,971		¥	34,587		¥	34,846
Fees from investment banking		14,122			22,907			19,632			18,594
Asset management and portfolio service fees		29,639			27,765			25,695			26,886
Net gain on trading		72,780			10,124			47,779			31,545
Interest and dividends		182,491			129,854			107,405			80,791
(Loss) profit on investments in equity securities		(1,423	)		(41,735	)		(13,370	)		668
Profit from changes in equity of an affiliated company		—			—			3,504			—
PFG entities product sales		86,528			67,565			67,834			73,004
PFG entities rental income		28,210			36,643			56,066			56,134
Gain on sales of PFG entities		—			—			—			116,324
Gain on private equity investments		—			—			—			232,472
Other		18,422			19,925			14,878			15,740

Total revenue		470,366			304,019			364,010			687,004
Interest expense		180,203			133,342			107,757			82,746

Net revenue		290,163			170,677			256,253			604,258

Non-interest expenses:
Compensation and benefits		80,091			96,844			74,773			127,832
Commissions and floor brokerage		4,891			5,270			5,248			5,553
Information processing and communications		19,825			20,501			22,543			24,383
Occupancy and related depreciation		20,671			15,859			15,778			21,479
Business development expenses		6,029			7,921			5,423			7,279
PFG entities cost of goods sold		61,387			45,648			46,492			47,344
PFG entities expenses associated with rental income		15,040			18,244			36,883			41,362
Other		29,358			135,329			31,501			51,598

		237,292			345,616			238,641			326,830

Income before income taxes		52,871			(174,939	)		17,612			277,428

Income tax expense(benefit):
Current		15,224			10,168			17,556			18,950
Deferred		11,505			(81,114	)		(1,886	)		14,523

		26,729			(70,946	)		15,670			33,473

Net income	¥	26,142		¥	(103,993	)	¥	1,942		¥	243,955


Per share of common stock:	Yen

Net income—Basic	¥	13.32		¥	(52.98	)	¥	0.99		¥	124.10
—Diluted	¥	13.30		¥	(52.98	)	¥	0.99		¥	123.72

NOMURA HOLDINGS, INC.

CONSOLIDATED BALANCE SHEET INFORMATION

(Unaudited)

	Millions of yen
	June 30, 2001		September 30, 2001		December 31, 2001		March 31, 2002
ASSETS
Cash and cash deposits:
Cash and cash equivalents	¥305,750		¥418,236		¥871,387		¥356,635
Time deposits	217,932		169,051		150,342		381,038
Deposits with stock exchanges and other segregated cash	47,637		112,694		94,038		38,061

	571,319		699,981		1,115,767		775,734

Loans and receivables:
Loans receivable from customers	334,786		270,020		219,771		221,455
Loans receivable from other than customers	509,515		272,860		230,695		451,662
Receivables from customers	71,081		117,062		57,817		21,191
Receivables from other than customers	318,205		591,181		329,523		370,116
Receivables under resale agreements and securities borrowed transactions	4,958,807		4,540,122		7,055,611		6,680,001
Securities pledged as collateral	3,532,149		3,575,948		2,971,665		2,964,276
Allowance for doubtful accounts	(19,546	)	(14,299	)	(15,134	)	(18,410	)

	9,704,997		9,352,894		10,849,948		10,690,291

Trading assets and private equity investments:
Securities inventory	3,624,256		3,980,006		3,566,398		4,302,217
Derivative contracts	319,159		286,135		352,413		293,266
Private equity investments	—		—		—		281,774

	3,943,415		4,266,141		3,918,811		4,877,257

Other:
Office buildings, land, equipment and facilities (net of accumulated depreciation and amortization of ¥209,519 million, ¥208,026 million, ¥218,485 million and ¥221,113 million at June 30, September 30, December 31, 2001 and March 31, 2002)	155,725		161,064		169,685		170,762
PFG entities land, buildings, equipment and furniture and fixtures (net of accumulated depreciation and amortization of ¥80,687 million, ¥88,360 million and ¥103,670 million at June 30, September 30 and December 31, 2001)	808,462		810,385		1,125,912		—
Lease deposits	83,403		83,224		81,893		74,591
Non-trading debt securities	328,941		320,846		299,720		426,400
Investments in equity securities	263,052		223,195		193,932		192,377
Investments in and advances to affiliated companies	380,490		258,355		262,443		257,089
Deferred tax assets	75,565		83,827		37,422		132,808
Other assets	427,347		423,562		624,210		160,964

	2,522,985		2,364,458		2,795,217		1,414,991

Total Assets	¥16,742,716		¥16,683,474		¥18,679,743		¥17,758,273

NOMURA HOLDINGS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEET INFORMATION

(Unaudited)

	Millions of yen
	June 30, 2001			September 30, 2001			December 31, 2001			March 31, 2002
LIABILITIES AND SHAREHOLDERS’ EQUITY
Payables, borrowings and deposits:
Payables to customers	¥	296,645		¥	256,995		¥	660,265		¥	729,907
Payables to other than customers		241,945			510,486			300,409			182,760
Payables under repurchase agreements and securities loaned transactions		8,249,564			7,589,669			8,910,696			8,245,492
Short-term borrowings		887,077			1,550,331			1,093,538			1,689,504
Time and other deposits received		417,249			292,233			294,469			338,925

		10,092,480			10,199,714			11,259,377			11,186,588

Trading liabilities:
Securities sold but not yet purchased		1,937,610			1,829,613			2,354,901			2,387,847
Derivative contracts		354,570			380,048			395,029			305,899

		2,292,180			2,209,661			2,749,930			2,693,746

Other liabilities:
Accrued income taxes		15,414			28,731			36,565			50,920
Accrued pension and severance costs		42,744			43,623			42,976			56,109
Other		471,042			439,977			418,021			411,127

		529,200			512,331			497,562			518,156

Long-term borrowings		1,414,186			1,478,472			1,437,792			1,754,854
Non-recourse PFG entities loans and bonds		946,909			923,131			1,358,652			—

Total liabilities		15,274,955			15,323,309			17,303,313			16,153,344

Shareholders’ equity:
Common stock,
Issued June 30, 2001—1,962,980,444 shares
September 30, 2001—1,962,980,444 shares
December 31, 2001—1,965,919,860 shares
March 31, 2002—1,965,919,860 shares		182,800			182,800			182,800			182,800
Additional paid-in capital		146,136			146,136			150,979			150,979
Retained earnings		1,203,802			1,099,808			1,101,750			1,316,221

Accumulated other comprehensive income:
Minimum pension liability adjustment		(18,778	)		(18,426	)		(17,667	)		(24,972	)
Cumulative translation adjustments		(46,128	)		(50,138	)		(41,272	)		(19,685	)

		(64,906	)		(68,564	)		(58,939	)		(44,657	)

		1,467,832			1,360,180			1,376,590			1,605,343
Less-Common stock held in treasury, at cost—28,711 shares, 7,525 shares, 93,131 shares and 246,075 shares at June 30, September 30, December 31, 2001 and March 31, 2002		(71	)		(15	)		(160	)		(414	)

Total shareholders’ equity		1,467,761			1,360,165			1,376,430			1,604,929

Total liabilities and shareholders’ equity	¥	16,742,716		¥	16,683,474		¥	18,679,743		¥	17,758,273

NOMURA HOLDINGS, INC.

OPERATING SEGMENT INFORMATION

(Unaudited)

	Millions of yen
	Domestic Retail		Global Wholesale		Asset Management		Other (Inc. elimination)			Total
Three months ended June 30, 2001
Non-interest revenue	¥	60,953	¥	62,483	¥	12,779	¥	22,647		¥	158,862
Net interest revenue		1,076		7,816		516		6,667			16,075

Net revenue		62,029		70,299		13,295		29,314			174,937
Non-interest expenses		51,678		48,046		8,383		13,699			121,806

Income (loss) before income taxes	¥	10,351	¥	22,253	¥	4,912	¥	15,615		¥	53,131

Six months ended September 30, 2001
Non-interest revenue	¥	111,760	¥	128,329	¥	23,180	¥	7,145		¥	270,414
Net interest revenue		1,543		15,550		603		12,343			30,039

Net revenue		113,303		143,879		23,783		19,488			300,453
Non-interest expenses		107,211		96,978		16,715		140,265			361,169

Income (loss) before income taxes	¥	6,092	¥	46,901	¥	7,068	¥	(120,777	)	¥	(60,716	)

Nine months ended December 31, 2001
Non-interest revenue	¥	168,983	¥	186,132	¥	35,217	¥	12,250		¥	402,582
Net interest revenue		2,412		30,275		653		18,552			51,892

Net revenue		171,395		216,407		35,870		30,802			454,474
Non-interest expenses		157,330		146,460		26,137		148,962			478,889

Income (loss) before income taxes	¥	14,065	¥	69,947	¥	9,733	¥	(118,160	)	¥	(24,415	)

For the year ended March 31, 2002
Non-interest revenue	¥	226,156	¥	385,430	¥	46,840	¥	11,171		¥	669,597
Net interest revenue		2,949		54,505		367		14,422			72,243

Net revenue		229,105		439,935		47,207		25,593			741,840
Non-interest expenses		208,621		248,657		37,031		168,990			663,299

Income (loss) before income taxes	¥	20,484	¥	191,278	¥	10,176	¥	(143,397	)	¥	78,541

	Millions of yen
	For the three months ended June 30, 2001			For the six months ended September 30, 2001			For the nine months ended December 31, 2001			For the year ended March 31, 2002
Net Revenue	¥	174,937		¥	300,453		¥	454,474		¥	741,840
Unrealized loss on investments in equity securities held for relationship purpose		(4,199	)		(44,968	)		(56,271	)		(60,177	)
Effect of consolidation/deconsolidation of the PFG entities		119,425			205,355			318,890			639,688

Consolidated net revenue	¥	290,163		¥	460,840		¥	717,093		¥	1,321,351

Income before income taxes	¥	53,131		¥	(60,716	)	¥	(24,415	)	¥	78,541
Unrealized (loss) on investments in equity securities held for relationship purpose		(4,199	)		(44,968	)		(56,271	)		(60,177	)
Effect of consolidation/deconsolidation of the PFG entities		3,939			(16,384	)		(23,770	)		154,608

Consolidated income before income taxes	¥	52,871		¥	(122,068	)	¥	(104,456	)	¥	172,972