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 July 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 – Three months ended June 2013

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: July 26, 2013	By:	/s/ EIJI MIURA
		Eiji Miura
		Senior Managing Director

Financial Summary For the Three Months Ended June 30, 2013 (U.S. GAAP)


Date:		July 26, 2013
Company name (code number):		Nomura Holdings, Inc. (8604)
Stock exchange listings:		(In Japan) Tokyo, Nagoya
		(Overseas) New York, Singapore
Representative:		Koji Nagai
		Group CEO, Nomura Holdings, Inc.
For inquiries:		Masahide Hoshino
		Managing Director, Investor Relations Department, Nomura Holdings, Inc.
		Tel: (Country Code 81) 3-5255-1000
		URL: http://www.nomura.com

1. Consolidated Operating Results

(1) Operating Results


	(Rounded to nearest million)

	For the three months ended June 30
	2012						2013
	(Millions of yen, except per share data)
				% Change from June 30, 2011						% Change from June 30, 2012
Total revenue		439,593			2.9	%		505,270			14.9	%
Net revenue		369,254			11.8	%		431,321			16.8	%
Income before income taxes		19,666			(42.8	%)		113,219			475.7	%
Net income attributable to Nomura Holdings, Inc. (“NHI”) shareholders		1,891			(89.4	%)		65,894			—	%
Comprehensive income (loss)		(9,720	)		—	%		97,899			—	%
Basic-Net income attributable to NHI shareholders per share (Yen)		0.51						17.78
Diluted-Net income attributable to NHI shareholders per share (Yen)		0.50						17.24
Return on shareholders’ equity - annualized		0.4	%					11.3	%

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

(2) Financial Position


	At March 31			At June 30
	2013			2013
	(Millions of yen, except per share data)
Total assets		37,942,439			41,954,813
Total equity		2,318,983			2,394,869
Total NHI shareholders’ equity		2,294,371			2,369,007
Total NHI shareholders’ equity as a percentage of total assets		6.0	%		5.6	%
Total NHI shareholders’ equity per share (Yen)		618.27			639.99

2. Cash dividends


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

Note: Nomura plans to forgo dividend distribution for Q3 of fiscal year 2014. Fiscal year 2014 Q2 and Q4 dividend amount are not presented per reasons stated in “3. Earnings forecasts for the year ending March 31, 2014”.

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

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

Notes

(1) Changes in significant subsidiaries during the period: 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 June 30
	2013		2013
Number of shares outstanding (including treasury stock)		3,822,562,601		3,822,562,601
Number of treasury stock		111,602,349		120,949,330

	For the three months ended June 30
	2012		2013
Average number of shares outstanding (year-to-date)		3,674,586,163		3,705,893,380

* 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 June 30, 2013, an English translation of which the registrant plans to furnish on Form 6-K in due course.

Table of Contents for the Accompanying Materials


1. Qualitative Information of the Quarterly Consolidated Results			P.2

(1) Consolidated Operating Results			P.2
(2) Consolidated Financial Position			P.5
(3) Consolidated Earnings Forecasts			P.5

2. Quarterly Consolidated Financial Statements			P.5

(1) Consolidated Balance Sheets			P.6
(2) Consolidated Statements of Income			P.8
(3) Consolidated Statements of Comprehensive Income			P.9
(4) Note with respect to the Assumption as a Going Concern			P.9
(5) Segment Information – Operating Segment			P.10
(6) Significant Changes in Equity			P.11

3. Supplementary Information			P.12

(1) Consolidated Statements of Income – Quarterly Comparatives			P.12
(2) Business Segment Information – Quarterly Comparatives			P.13
(3) Unconsolidated Quarterly Financial Statements [Japanese GAAP]			P.14
(4) Other			P.14

1.	Qualitative Information of the Quarterly Consolidated Results

(1)

Consolidated Operating Results

U.S. GAAP


	Billions of yen						% Change
	For the three months ended						(B-A)/(A)
	June 30, 2012 (A)			June 30, 2013 (B)			(B-A)/(A)
Net revenue		369.3			431.3			16.8
Non-interest expenses		349.6			318.1			(9.0	)

Income (loss) before income taxes		19.7			113.2			475.7
Income tax expense		13.6			47.0			245.5

Net income (loss)		6.1			66.3			990.6

Less: Net income (loss) attributable to noncontrolling interests		4.2			0.4			(91.2	)

Net income (loss) attributable to NHI shareholders		1.9			65.9			—

Return on shareholders’ equity - annualized		0.4	%		11.3	%		—

Note:

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

Nomura Holdings, Inc. and its consolidated entities (collectively, “Nomura”) reported Net revenue of 431.3 billion yen for the three months ended June 30, 2013, an increase of 16.8% from the same period in the prior year. Non-interest expenses decreased by 9.0% from the same period in the prior year to 318.1 billion yen. Income before income taxes was 113.2 billion yen and Net income attributable to NHI shareholders was 65.9 billion yen for the three months ended June 30, 2013.

Segment Information


	Billions of yen				% Change
	For the three months ended				(B-A)/(A)
	June 30, 2012 (A)		June 30, 2013 (B)		(B-A)/(A)
Net revenue		375.6		424.2		12.9
Non-interest expenses		349.6		318.1		(9.0	)

Income (loss) before income taxes		26.0		106.1		308.0

In the above segment information totals, which exclude unrealized gain (loss) on investments in equity securities held for operating purposes, Net revenue for the three months ended June 30, 2013 was 424.2 billion yen, an increase of 12.9% from the same period in the prior year. Non-interest expenses decreased by 9.0% from the same period in the prior year to 318.1 billion yen. Income before income taxes was 106.1 billion yen for the three months ended June 30, 2013. Please refer to page 10 for further details of the differences between U.S. GAAP and business segment amounts.

<Business Segment Results>

Operating Results of Retail


	Billions of yen				% Change
	For the three months ended				(B-A)/(A)
	June 30, 2012 (A)		June 30, 2013 (B)		(B-A)/(A)
Net revenue		82.7		166.3		101.1
Non-interest expenses		70.5		85.2		20.9

Income (loss) before income taxes		12.2		81.1		565.4

Net revenue increased by 101.1% from the same period in the prior year to 166.3 billion yen primarily due to increased sales performances of equities and investment trusts as a result of active equity markets. Non-interest expenses increased by 20.9% to 85.2 billion yen. As a result, income before income taxes increased by 565.4% to 81.1 billion yen.

Operating Results of Asset Management


	Billions of yen				% Change
	For the three months ended				(B-A)/(A)
	June 30, 2012 (A)		June 30, 2013 (B)		(B-A)/(A)
Net revenue		16.4		20.2		22.9
Non-interest expenses		11.0		13.5		22.0

Income (loss) before income taxes		5.4		6.7		24.6

Net revenue increased by 22.9% from the same period in the prior year to 20.2 billion yen primarily due to increase of assets under management. Non-interest expenses increased by 22.0% to 13.5 billion yen. As a result, income before income taxes increased by 24.6% to 6.7 billion yen. Assets under management increased by 1.2 trillion yen to 29.1 trillion yen at the end of June 2013.

Operating Results of Wholesale


	Billions of yen					% Change
	For the three months ended					(B-A)/(A)
	June 30, 2012 (A)			June 30, 2013 (B)		(B-A)/(A)
Net revenue		121.9			194.6		59.7
Non-interest expenses		130.4			169.4		29.9

Income (loss) before income taxes		(8.6	)		25.2		—

Net revenue was 194.6 billion yen, an increase of 59.7% compared to the same period in the prior year. This increase was primarily due to the improved performance of equity business as well as an increase in the number of capital markets transactions as a result of active equity markets. Non-interest expense increased by 29.9% to 169.4 billion yen, resulting in income before income taxes of 25.2 billion yen.

Other Operating Results


	Billions of yen					% Change
	For the three months ended					(B-A)/(A)
	June 30, 2012 (A)		June 30, 2013 (B)			(B-A)/(A)
Net revenue		154.6		43.0			(72.2	)
Non-interest expenses		137.6		50.0			(63.7	)

Income (loss) before income taxes		17.0		(7.0	)		—

Net revenue was 43.0 billion yen. Loss before income taxes was 7.0 billion yen.

(2)

Consolidated Financial Position

Total assets as of June 30, 2013, were 42.0 trillion yen, an increase of 4.0 trillion yen compared to March 31, 2013, mainly due to the increase in Securities purchased under agreements to resell. Total liabilities as of June 30, 2013 were 39.6 trillion yen, an increase of 3.9 trillion yen compared to March 31, 2013, mainly due to the increase in Securities sold under agreements to repurchase. Total equity as of June 30, 2013 was 2.4 trillion yen, an increase of 75.9 billion yen compared to March 31, 2013.

(3)

Consolidated Earnings Forecasts

2.	Quarterly Consolidated Financial Statements

The quarterly consolidated financial information herein has been prepared in accordance with Nomura’s accounting policies which are disclosed in the notes to the consolidated financial statements of Nomura Holdings, Inc.’s Annual Securities Report (the annual report filed in Japan on June 27, 2013) and Form 20-F (the annual report filed with the U.S. Securities and Exchange Commission on June 27, 2013) for the year ended March 31, 2013.

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

(1)

Consolidated Balance Sheets (UNAUDITED)


	Millions of yen
	March 31, 2013			June 30, 2013			Increase/ (Decrease)
ASSETS
Cash and cash deposits:
Cash and cash equivalents		805,087			1,201,766			396,679
Time deposits		577,921			642,909			64,988
Deposits with stock exchanges and other segregated cash		269,744			331,753			62,009

Total cash and cash deposits		1,652,752			2,176,428			523,676

Loans and receivables:
Loans receivable		1,575,494			1,338,404			(237,090	)
Receivables from customers		63,792			59,771			(4,021	)
Receivables from other than customers		992,847			807,501			(185,346	)
Allowance for doubtful accounts		(2,258	)		(3,445	)		(1,187	)

Total loans and receivables		2,629,875			2,202,231			(427,644	)

Collateralized agreements:
Securities purchased under agreements to resell		8,295,372			10,120,178			1,824,806
Securities borrowed		5,819,885			6,609,875			789,990

Total collateralized agreements		14,115,257			16,730,053			2,614,796

Trading assets and private equity investments:
Trading assets*		17,037,191			18,107,486			1,070,295
Private equity investments		87,158			88,444			1,286

Total trading assets and private equity investments		17,124,349			18,195,930			1,071,581

Other assets:
Office buildings, land, equipment and facilities (net of accumulated depreciation and amortization of ¥355,831 million as of March 31, 2013 and ¥366,580 million as of June 30, 2013)		428,241			434,256			6,015
Non-trading debt securities*		920,611			1,074,987			154,376
Investments in equity securities*		123,490			130,679			7,189
Investments in and advances to affiliated companies*		345,705			352,847			7,142
Other		602,159			657,402			55,243

Total other assets		2,420,206			2,650,171			229,965

Total assets		37,942,439			41,954,813			4,012,374

*	Including securities pledged as collateral


	Millions of yen
	March 31, 2013			June 30, 2013			Increase/ (Decrease)
LIABILITIES AND EQUITY
Short-term borrowings		738,445			973,036			234,591
Payables and deposits:
Payables to customers		476,705			630,631			153,926
Payables to other than customers		864,962			1,487,597			622,635
Deposits received at banks		1,072,134			1,275,199			203,065

Total payables and deposits		2,413,801			3,393,427			979,626

Collateralized financing:
Securities sold under agreements to repurchase		12,444,317			13,725,503			1,281,186
Securities loaned		2,158,559			2,340,133			181,574
Other secured borrowings		806,507			842,258			35,751

Total collateralized financing		15,409,383			16,907,894			1,498,511

Trading liabilities		8,491,296			9,670,942			1,179,646
Other liabilities		978,163			919,705			(58,458	)
Long-term borrowings		7,592,368			7,694,940			102,572

Total liabilities		35,623,456			39,559,944			3,936,488


Equity
NHI shareholders’ equity:
Common stock
Authorized - 6,000,000,000 shares
Issued - 3,822,562,601 shares as of March 31, 2013 and 3,822,562,601 shares as of June 30, 2013
Outstanding - 3,710,960,252 shares as of March 31, 2013 and 3,701,613,271 shares as of June 30, 2013		594,493			594,493			—
Additional paid-in capital		691,264			680,857			(10,407	)
Retained earnings		1,136,523			1,202,417			65,894
Accumulated other comprehensive income (loss)		(57,395	)		(25,810	)		31,585

Total NHI shareholders’ equity before treasury stock		2,364,885			2,451,957			87,072
Common stock held in treasury, at cost -
111,602,349 shares as of March 31, 2013 and
120,949,330 shares as of June 30, 2013		(70,514	)		(82,950	)		(12,436	)

Total NHI shareholders’ equity		2,294,371			2,369,007			74,636

Noncontrolling interests		24,612			25,862			1,250

Total equity		2,318,983			2,394,869			75,886

Total liabilities and equity		37,942,439			41,954,813			4,012,374

(2)

Consolidated Statements of Income (UNAUDITED)


	Millions of yen					% Change
	For the three months ended
	June 30, 2012 (A)			June 30, 2013 (B)		(B-A)/(A)
Revenue:
Commissions		77,367			157,634		103.7
Fees from investment banking		10,383			25,394		144.6
Asset management and portfolio service fees		33,813			42,381		25.3
Net gain on trading		84,399			128,409		52.1
Gain (loss) on private equity investments		(5,387	)		50		—
Interest and dividends		103,469			115,325		11.5
Gain (loss) on investments in equity securities		(7,061	)		7,852		—
Other		142,610			28,225		(80.2	)

Total revenue		439,593			505,270		14.9
Interest expense		70,339			73,949		5.1

Net revenue		369,254			431,321		16.8

Non-interest expenses:
Compensation and benefits		124,573			163,205		31.0
Commissions and floor brokerage		21,978			29,046		32.2
Information processing and communications		42,524			48,233		13.4
Occupancy and related depreciation		24,110			19,784		(17.9	)
Business development expenses		11,329			7,859		(30.6	)
Other		125,074			49,975		(60.0	)

Total non-interest expenses		349,588			318,102		(9.0	)

Income before income taxes		19,666			113,219		475.7
Income tax expense		13,590			46,956		245.5

Net income		6,076			66,263		990.6

Less: Net income attributable to noncontrolling interests		4,185			369		(91.2	)

Net income attributable to NHI shareholders		1,891			65,894		—

Per share of common stock:

	Yen					% Change
Basic-
Net income attributable to NHI shareholders per share		0.51			17.78		—

Diluted-
Net income attributable to NHI shareholders per share		0.50			17.24		—

(3)

Consolidated Statements of Comprehensive Income (UNAUDITED)


	Millions of yen						% Change
	For the three months ended						(B-A)/(A)
	June 30, 2012 (A)			June 30, 2013 (B)			(B-A)/(A)
Net income		6,076			66,263			990.6
Other comprehensive income (loss):
Change in cumulative translation adjustments, net of tax		(17,368	)		32,973			—
Defined benefit pension plans:
Pension liability adjustment		3,734			1,556			(58.3	)
Deferred income taxes		(1,024	)		(532	)		—

Total		2,710			1,024			(62.2	)

Non-trading securities:
Net unrealized gain (loss) on non-trading securities		(390	)		(3,002	)		—
Deferred income taxes		(748	)		641			—

Total		(1,138	)		(2,361	)		—

Total other comprehensive income (loss)		(15,796	)		31,636			—

Comprehensive income (loss)		(9,720	)		97,899			—
Less: Comprehensive income attributable to noncontrolling interests		3,586			420			(88.3	)

Comprehensive income (loss) attributable to NHI shareholders		(13,306	)		97,479			—

(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 three months ended
	June 30, 2012 (A)			June 30, 2013 (B)			(B-A)/(A)
Net revenue

Business segment information:
Retail		82,711			166,342			101.1
Asset Management		16,418			20,174			22.9
Wholesale		121,883			194,609			59.7

Subtotal		221,012			381,125			72.4
Other		154,567			43,032			(72.2	)

Net revenue		375,579			424,157			12.9

Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes		(6,325	)		7,164			—

Net revenue		369,254			431,321			16.8


Non-interest expenses

Business segment information:
Retail		70,523			85,237			20.9
Asset Management		11,048			13,483			22.0
Wholesale		130,434			169,372			29.9

Subtotal		212,005			268,092			26.5
Other		137,583			50,010			(63.7	)

Non-interest expenses		349,588			318,102			(9.0	)

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

Non-interest expenses		349,588			318,102			(9.0	)


Income (loss) before income taxes

Business segment information:
Retail		12,188			81,105			565.4
Asset Management		5,370			6,691			24.6
Wholesale		(8,551	)		25,237			—

Subtotal		9,007			113,033			—
Other*		16,984			(6,978	)		—

Income (loss) before income taxes		25,991			106,055			308.0

Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes		(6,325	)		7,164			—

Income (loss) before income taxes		19,666			113,219			475.7

*	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 three months ended						(B-A)/(A)
	June 30, 2012 (A)			June 30, 2013 (B)			(B-A)/(A)
Net gain (loss) related to economic hedging transactions		(1,231	)		7,373			—
Realized gain (loss) on investments in equity securities held for operating purposes		(736	)		688			—
Equity in earnings of affiliates		1,273			5,343			319.7
Corporate items		6,624			(12,344	)		—
Other		11,054			(8,038	)		—

Total		16,984			(6,978	)		—

(6)

Significant Changes in Equity (UNAUDITED)

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


	Millions of yen
	For the three months ended June 30, 2013
Common stock
Balance at beginning of year		594,493

Balance at end of period		594,493

Additional paid-in capital
Balance at beginning of year		691,264
Gain (loss) on sales of treasury stock		(4,315	)
Issuance and exercise of common stock options		(6,092	)

Balance at end of period		680,857

Retained earnings
Balance at beginning of year		1,136,523
Net income attributable to NHI shareholders		65,894

Balance at end of period		1,202,417

Accumulated other comprehensive income (loss)
Cumulative translation adjustments
Balance at beginning of year		(38,875	)
Net change during the period		32,343

Balance at end of period		(6,532	)

Defined benefit pension plans
Balance at beginning of year		(28,518	)
Pension liability adjustment		1,024

Balance at end of period		(27,494	)

Non-trading securities
Balance at beginning of year		9,998
Net unrealized gain (loss) on non-trading securities		(1,782	)

Balance at end of period		8,216

Balance at end of year		(25,810	)

Common stock held in treasury
Balance at beginning of year		(70,514	)
Repurchases of common stock		(32,476	)
Sale of common stock		0
Common stock issued to employees		19,373
Other net change in treasury stock		667

Balance at end of period		(82,950	)

Total NHI shareholders’ equity

Balance at end of period		2,369,007

Noncontrolling interests
Balance at beginning of year		24,612
Net change during the period		1,250

Balance at end of period		25,862

Total equity

Balance at end of period		2,394,869

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, 2013
	June 30, 2012			September 30, 2012		December 31, 2012			March 31, 2013 (A)		June 30, 2013 (B)		(B-A)/(A)			For the year ended March 31, 2013
Revenue:
Commissions		77,367			72,279		83,681			125,742		157,634		25.4			359,069
Fees from investment banking		10,383			17,131		13,027			21,812		25,394		16.4			62,353
Asset management and portfolio service fees		33,813			33,411		35,017			38,788		42,381		9.3			141,029
Net gain on trading		84,399			88,929		88,188			106,463		128,409		20.6			367,979
Gain (loss) on private equity investments		(5,387	)		299		11,631			1,510		50		(96.7	)		8,053
Interest and dividends		103,469			92,834		99,745			97,959		115,325		17.7			394,007
Gain (loss) on investments in equity securities		(7,061	)		12,970		8,858			23,919		7,852		(67.2	)		38,686
Other		142,610			143,373		118,834			303,950		28,225		(90.7	)		708,767

Total revenue		439,593			461,226		458,981			720,143		505,270		(29.8	)		2,079,943
Interest expense		70,339			59,547		69,895			66,531		73,949		11.1			266,312

Net revenue		369,254			401,679		389,086			653,612		431,321		(34.0	)		1,813,631

Non-interest expenses:
Compensation and benefits		124,573			133,696		134,698			154,624		163,205		5.5			547,591
Commissions and floor brokerage		21,978			21,904		22,918			24,588		29,046		18.1			91,388
Information processing and communications		42,524			45,145		42,672			49,563		48,233		(2.7	)		179,904
Occupancy and related depreciation		24,110			22,140		22,179			23,116		19,784		(14.4	)		91,545
Business development expenses		11,329			11,173		12,051			14,457		7,859		(45.6	)		49,010
Other		125,074			132,204		141,603			217,582		49,975		(77.0	)		616,463

Total non-interest expenses		349,588			366,262		376,121			483,930		318,102		(34.3	)		1,575,901

Income before income taxes		19,666			35,417		12,965			169,682		113,219		(33.3	)		237,730
Income tax expense		13,590			30,056		12,874			75,519		46,956		(37.8	)		132,039

Net income		6,076			5,361		91			94,163		66,263		(29.6	)		105,691

Less: Net income (loss) attributable to noncontrolling interests		4,185			2,552		(20,021	)		11,741		369		(96.9	)		(1,543	)

Net income attributable to NHI shareholders		1,891			2,809		20,112			82,422		65,894		(20.1	)		107,234


	Yen												% Change			Yen
Per share of common stock:
Basic-
Net income attributable to NHI shareholders per share		0.51			0.76		5.44			22.23		17.78		(20.0	)		29.04

Diluted-
Net income attributable to NHI shareholders per share		0.50			0.74		5.33			21.55		17.24		(20.0	)		28.37

(2)

Business Segment Information – Quarterly Comparatives (UNAUDITED)

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


	Millions of yen													% Change			Millions of yen
	For the three months ended													(B-A)/(A)			For the year ended March 31, 2013
	June 30, 2012			September 30, 2012		December 31, 2012			March 31, 2013		June 30, 2013			(B-A)/(A)			For the year ended March 31, 2013

Net revenue

Business segment information:
Retail		82,711			80,786		95,679			138,749		166,342			19.9			397,925
Asset Management		16,418			15,439		18,786			18,294		20,174			10.3			68,937
Wholesale		121,883			137,094		188,968			196,911		194,609			(1.2	)		644,856

Subtotal		221,012			233,319		303,433			353,954		381,125			7.7			1,111,718
Other		154,567			156,003		76,753			276,905		43,032			(84.5	)		664,228

Net revenue		375,579			389,322		380,186			630,859		424,157			(32.8	)		1,775,946

Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes		(6,325	)		12,357		8,900			22,753		7,164			(68.5	)		37,685

Net revenue		369,254			401,679		389,086			653,612		431,321			(34.0	)		1,813,631


Non-interest expenses

Business segment information:
Retail		70,523			69,824		75,419			81,531		85,237			4.5			297,297
Asset Management		11,048			10,879		11,468			14,373		13,483			(6.2	)		47,768
Wholesale		130,434			136,901		144,611			161,253		169,372			5.0			573,199

Subtotal		212,005			217,604		231,498			257,157		268,092			4.3			918,264
Other		137,583			148,658		144,623			226,773		50,010			(77.9	)		657,637

Non-interest expenses		349,588			366,262		376,121			483,930		318,102			(34.3	)		1,575,901

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

Non-interest expenses		349,588			366,262		376,121			483,930		318,102			(34.3	)		1,575,901


Income (loss) before income taxes

Business segment information:
Retail		12,188			10,962		20,260			57,218		81,105			41.7			100,628
Asset Management		5,370			4,560		7,318			3,921		6,691			70.6			21,169
Wholesale		(8,551	)		193		44,357			35,658		25,237			(29.2	)		71,657

Subtotal		9,007			15,715		71,935			96,797		113,033			16.8			193,454
Other*		16,984			7,345		(67,870	)		50,132		(6,978	)		—			6,591

Income (loss) before income taxes		25,991			23,060		4,065			146,929		106,055			(27.8	)		200,045

Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes		(6,325	)		12,357		8,900			22,753		7,164			(68.5	)		37,685

Income (loss) before income taxes		19,666			35,417		12,965			169,682		113,219			(33.3	)		237,730

*	Major components

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

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


	Millions of yen														% Change			Millions of yen
	For the three months ended														(B-A)/(A)			For the year ended March 31, 2013
	June 30, 2012			September 30, 2012			December 31, 2012			March 31, 2013		June 30, 2013			(B-A)/(A)			For the year ended March 31, 2013
Net gain (loss) related to economic hedging transactions		(1,231	)		964			415			841		7,373			776.7			989
Realized gain (loss) on investments in equity securities held for operating purposes		(736	)		613			(42	)		1,166		688			(41.0	)		1,001
Equity in earnings of affiliates		1,273			3,346			4,549			5,233		5,343			2.1			14,401
Corporate items		6,624			(7,044	)		(14,800	)		32,872		(12,344	)		—			17,652
Other		11,054			9,466			(57,992	)		10,020		(8,038	)		—			(27,452	)

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

(3)

Unconsolidated Quarterly Financial Statements [Japanese GAAP]

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

Nomura Holdings, Inc. Unconsolidated Balance Sheets

(UNAUDITED)


	Millions of yen
	March 31, 2013		June 30, 2013
Assets
Current Assets		3,221,039		3,311,913
Fixed Assets		2,554,812		2,593,742

Total Assets		5,775,850		5,905,655

Liabilities
Current Liabilities		663,807		631,150
Long-term Liabilities		3,236,320		3,270,974

Total Liabilities		3,900,128		3,902,124

Net Assets
Shareholders’ equity		1,774,048		1,912,561
Valuation and translation adjustments		56,585		51,982
Stock acquisition rights		45,090		38,988

Total Net Assets		1,875,723		2,003,531

Total Liabilities and Net Assets		5,775,850		5,905,655

Nomura Holdings, Inc. Unconsolidated Statements of Income

(UNAUDITED)


	Millions of yen
	For the three months ended
	June 30, 2012			June 30, 2013
Operating revenue		86,591			236,558
Operating expenses		54,671			56,399

Operating income		31,920			180,159

Non-operating income		1,199			1,874
Non-operating expenses		2,441			1,387

Ordinary income		30,677			180,646

Special profits		859			1,045
Special losses		861			1,563

Income before income taxes		30,675			180,129

Income taxes - current		(2,621	)		1,969
Income taxes - deferred		1,549			(697	)

Net income		31,748			178,856

(4)

Other

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

http://www.nomuraholdings.com/company/group/nsc/pdf/2014_1q.pdf