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 October 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 – Six months ended September 30, 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. 333-191250) of the registrant and Nomura America Finance, LLC, filed with the Securities and Exchange Commission on September 19, 2013.

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: October 29, 2013	By:	/s/ EIJI MIURA
		Eiji Miura
		Senior Managing Director

Financial Summary For the Six Months Ended September 30, 2013 (U.S. GAAP)


Date:		October 29, 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 six months ended September 30
	2012						2013
	(Millions of yen, except per share data)
				% Change from September 30, 2011						% Change from September 30, 2012
Total revenue		900,819			11.9	%		933,650			3.6	%
Net revenue		770,933			22.0	%		787,712			2.2	%
Income before income taxes		55,083			—	%		186,153			238.0	%
Net income attributable to Nomura Holdings, Inc. (“NHI”) shareholders		4,700			—	%		104,007			—	%
Comprehensive income (loss)		(8,016	)		—	%		134,205			—	%
Basic-Net income attributable to NHI shareholders per share (Yen)		1.28						28.07
Diluted-Net income attributable to NHI shareholders per share (Yen)		1.25						27.20
Return on shareholders’ equity - annualized		0.4	%					8.9	%

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 September 30
	2013			2013
	(Millions of yen, except per share data)
Total assets		37,942,439			41,868,413
Total equity		2,318,983			2,411,306
Total NHI shareholders’ equity		2,294,371			2,379,189
Total NHI shareholders’ equity as a percentage of total assets		6.0	%		5.7	%
Total NHI shareholders’ equity per share (Yen)		618.27			641.90

2. Cash dividends


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

Note: Nomura plans to forgo dividend distribution for Q3 of fiscal year 2014. Fiscal year 2014 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 September 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		116,077,880

	For the six months ended September 30
	2012		2013
Average number of shares outstanding (year-to-date)		3,682,504,520		3,705,701,979

* 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 September 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 six months ended						(B-A)/(A)
	September 30, 2012 (A)			September 30, 2013 (B)			(B-A)/(A)
Net revenue		770.9			787.7			2.2
Non-interest expenses		715.9			601.6			(16.0	)

Income (loss) before income taxes		55.1			186.2			238.0
Income tax expense		43.6			81.5			86.7

Net income (loss)		11.4			104.6			815.0

Less: Net income (loss) attributable to noncontrolling interests		6.7			0.6			(90.5	)

Net income (loss) attributable to NHI shareholders		4.7			104.0			—

Return on shareholders’ equity - annualized		0.4	%		8.9	%		—

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 787.7 billion yen for the six months ended September 30, 2013, an increase of 2.2% from the same period in the prior year. Non-interest expenses decreased by 16.0% from the same period in the prior year to 601.6 billion yen. Income before income taxes was 186.2 billion yen and Net income attributable to NHI shareholders was 104.0 billion yen for the six months ended September 30, 2013.

Segment Information


	Billions of yen				% Change
	For the six months ended				(B-A)/(A)
	September 30, 2012 (A)		September 30, 2013 (B)		(B-A)/(A)
Net revenue		764.9		775.5		1.4
Non-interest expenses		715.9		601.6		(16.0	)

Income (loss) before income taxes		49.1		174.0		254.6

In the above segment information totals, which exclude unrealized gain (loss) on investments in equity securities held for operating purposes, Net revenue for the six months ended September 30, 2013 was 775.5 billion yen, an increase of 1.4% from the same period in the prior year. Non-interest expenses decreased by 16.0% from the same period in the prior year to 601.6 billion yen. Income before income taxes was 174.0 billion yen for the six months ended September 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 six months ended				(B-A)/(A)
	September 30, 2012 (A)		September 30, 2013 (B)		(B-A)/(A)
Net revenue		163.5		286.1		75.0
Non-interest expenses		140.3		165.0		17.6

Income (loss) before income taxes		23.2		121.1		422.9

Net revenue increased by 75.0% from the same period in the prior year to 286.1 billion yen primarily due to increased sales performances of equities and investment trusts as a result of active equity markets from the end of last year. Non-interest expenses increased by 17.6% to 165.0 billion yen. As a result, income before income taxes increased by 422.9% to 121.1 billion yen.

Operating Results of Asset Management


	Billions of yen				% Change
	For the six months ended				(B-A)/(A)
	September 30, 2012 (A)		September 30, 2013 (B)		(B-A)/(A)
Net revenue		31.9		38.8		21.8
Non-interest expenses		21.9		25.9		18.3

Income (loss) before income taxes		9.9		12.9		29.5

Net revenue increased by 21.8% from the same period in the prior year to 38.8 billion yen primarily due to increase of assets under management. Non-interest expenses increased by 18.3% to 25.9 billion yen. As a result, income before income taxes increased by 29.5% to 12.9 billion yen. Assets under management was 30.0 trillion yen at the end of September 2013.

Operating Results of Wholesale


	Billions of yen					% Change
	For the six months ended					(B-A)/(A)
	September 30, 2012 (A)			September 30, 2013 (B)		(B-A)/(A)
Net revenue		259.0			378.0		45.9
Non-interest expenses		267.3			327.4		22.5

Income (loss) before income taxes		(8.4	)		50.5		—

Net revenue was 378.0 billion yen, an increase of 45.9% 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 from the end of last year. Non-interest expenses increased by 22.5% to 327.4 billion yen, resulting in income before income taxes of 50.5 billion yen.

Other Operating Results


	Billions of yen					% Change
	For the six months ended					(B-A)/(A)
	September 30, 2012 (A)		September 30, 2013 (B)			(B-A)/(A)
Net revenue		310.6		72.7			(76.6	)
Non-interest expenses		286.2		83.2			(70.9	)

Income (loss) before income taxes		24.3		(10.5	)		—

Net revenue was 72.7 billion yen. Loss before income taxes was 10.5 billion yen.

(2)

Consolidated Financial Position

Total assets as of September 30, 2013, were 41.9 trillion yen, an increase of 3.9 trillion yen compared to March 31, 2013, mainly due to the increase in Trading assets. Total liabilities as of September 30, 2013 were 39.5 trillion yen, an increase of 3.8 trillion yen compared to March 31, 2013, mainly due to the increase in Securities sold under agreements to repurchase. Total equity as of September 30, 2013 was 2.4 trillion yen, an increase of 92.3 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			September 30, 2013			Increase/ (Decrease)
ASSETS
Cash and cash deposits:
Cash and cash equivalents		805,087			1,298,043			492,956
Time deposits		577,921			468,495			(109,426	)
Deposits with stock exchanges and other segregated cash		269,744			384,480			114,736

Total cash and cash deposits		1,652,752			2,151,018			498,266

Loans and receivables:
Loans receivable		1,575,494			1,303,655			(271,839	)
Receivables from customers		63,792			52,097			(11,695	)
Receivables from other than customers		992,847			1,506,426			513,579
Allowance for doubtful accounts		(2,258	)		(3,205	)		(947	)

Total loans and receivables		2,629,875			2,858,973			229,098

Collateralized agreements:
Securities purchased under agreements to resell		8,295,372			9,552,516			1,257,144
Securities borrowed		5,819,885			6,376,335			556,450

Total collateralized agreements		14,115,257			15,928,851			1,813,594

Trading assets and private equity investments:
Trading assets*		17,037,191			18,332,966			1,295,775
Private equity investments		87,158			84,169			(2,989	)

Total trading assets and private equity investments		17,124,349			18,417,135			1,292,786

Other assets:
Office buildings, land, equipment and facilities (net of accumulated depreciation and amortization of ¥355,831 million as of March 31, 2013 and ¥373,140 million as of September 30, 2013)		428,241			421,042			(7,199	)
Non-trading debt securities*		920,611			1,003,495			82,884
Investments in equity securities*		123,490			135,736			12,246
Investments in and advances to affiliated companies*		345,705			360,348			14,643
Other		602,159			591,815			(10,344	)

Total other assets		2,420,206			2,512,436			92,230

Total assets		37,942,439			41,868,413			3,925,974

*	Including securities pledged as collateral


			Millions of yen
			March 31, 2013			September 30, 2013			Increase/ (Decrease)
LIABILITIES AND EQUITY
Short-term borrowings				738,445			800,966			62,521
Payables and deposits:
Payables to customers				476,705			579,148			102,443
Payables to other than customers				864,962			1,154,251			289,289
Deposits received at banks				1,072,134			1,106,042			33,908

Total payables and deposits				2,413,801			2,839,441			425,640

Collateralized financing:
Securities sold under agreements to repurchase				12,444,317			14,074,602			1,630,285
Securities loaned				2,158,559			2,431,554			272,995
Other secured borrowings				806,507			818,239			11,732

Total collateralized financing				15,409,383			17,324,395			1,915,012

Trading liabilities				8,491,296			9,870,444			1,379,148
Other liabilities				978,163			984,102			5,939
Long-term borrowings				7,592,368			7,637,759			45,391

Total liabilities				35,623,456			39,457,107			3,833,651


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 September 30, 2013
Outstanding	-	3,710,960,252 shares as of March 31, 2013 and 3,706,484,721 shares as of September 30, 2013		594,493			594,493			—
Additional paid-in capital				691,264			682,048			(9,216	)
Retained earnings				1,136,523			1,210,878			74,355
Accumulated other comprehensive income (loss)				(57,395	)		(28,579	)		28,816

Total NHI shareholders’ equity before treasury stock				2,364,885			2,458,840			93,955
Common stock held in treasury, at cost -
111,602,349 shares as of March 31, 2013 and
116,077,880 shares as of September 30, 2013				(70,514	)		(79,651	)		(9,137	)

Total NHI shareholders’ equity				2,294,371			2,379,189			84,818

Noncontrolling interests				24,612			32,117			7,505

Total equity				2,318,983			2,411,306			92,323

Total liabilities and equity				37,942,439			41,868,413			3,925,974

(2)

Consolidated Statements of Income (UNAUDITED)


	Millions of yen					% Change
	For the six months ended
	September 30, 2012 (A)			September 30, 2013 (B)		(B-A)/(A)
Revenue:
Commissions		149,646			263,247		75.9
Fees from investment banking		27,514			48,378		75.8
Asset management and portfolio service fees		67,224			83,083		23.6
Net gain on trading		173,328			238,590		37.7
Gain (loss) on private equity investments		(5,088	)		753		—
Interest and dividends		196,303			213,416		8.7
Gain on investments in equity securities		5,909			12,889		118.1
Other		285,983			73,294		(74.4	)

Total revenue		900,819			933,650		3.6
Interest expense		129,886			145,938		12.4

Net revenue		770,933			787,712		2.2

Non-interest expenses:
Compensation and benefits		258,269			298,596		15.6
Commissions and floor brokerage		43,882			55,180		25.7
Information processing and communications		87,669			94,473		7.8
Occupancy and related depreciation		46,250			40,614		(12.2	)
Business development expenses		22,502			17,332		(23.0	)
Other		257,278			95,364		(62.9	)

Total non-interest expenses		715,850			601,559		(16.0	)

Income before income taxes		55,083			186,153		238.0
Income tax expense		43,646			81,505		86.7

Net income		11,437			104,648		815.0

Less: Net income attributable to noncontrolling interests		6,737			641		(90.5	)

Net income attributable to NHI shareholders		4,700			104,007		—

Per share of common stock:

	Yen					% Change
Basic-
Net income attributable to NHI shareholders per share		1.28			28.07		—

Diluted-
Net income attributable to NHI shareholders per share		1.25			27.20		—

(3)	Consolidated Statements of Comprehensive Income (UNAUDITED)


	Millions of yen						% Change
	For the six months ended						(B-A)/(A)
	September 30, 2012 (A)			September 30, 2013 (B)			(B-A)/(A)
Net income		11,437			104,648			815.0
Other comprehensive income (loss):
Change in cumulative translation adjustments, net of tax		(21,343	)		27,431			—
Defined benefit pension plans:
Pension liability adjustment		4,062			2,005			(50.6	)
Deferred income taxes		(1,123	)		(703	)		—

Total		2,939			1,302			(55.7	)

Non-trading securities:
Net unrealized gain (loss) on non-trading securities		(1,032	)		1,469			—
Deferred income taxes		(17	)		(645	)		—

Total		(1,049	)		824			—

Total other comprehensive income (loss)		(19,453	)		29,557			—

Comprehensive income (loss)		(8,016	)		134,205			—
Less: Comprehensive income attributable to noncontrolling interests		5,997			1,382			(77.0	)

Comprehensive income (loss) attributable to NHI shareholders		(14,013	)		132,823			—

(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 six months ended
	September 30, 2012 (A)			September 30, 2013 (B)			(B-A)/(A)
Net revenue

Business segment information:
Retail		163,497			286,072			75.0
Asset Management		31,857			38,800			21.8
Wholesale		258,977			377,958			45.9

Subtotal		454,331			702,830			54.7
Other		310,570			72,681			(76.6	)

Net revenue		764,901			775,511			1.4

Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes		6,032			12,201			102.3

Net revenue		770,933			787,712			2.2


Non-interest expenses

Business segment information:
Retail		140,347			165,011			17.6
Asset Management		21,927			25,937			18.3
Wholesale		267,335			327,435			22.5

Subtotal		429,609			518,383			20.7
Other		286,241			83,176			(70.9	)

Non-interest expenses		715,850			601,559			(16.0	)

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

Non-interest expenses		715,850			601,559			(16.0	)


Income (loss) before income taxes

Business segment information:
Retail		23,150			121,061			422.9
Asset Management		9,930			12,863			29.5
Wholesale		(8,358	)		50,523			—

Subtotal		24,722			184,447			646.1
Other*		24,329			(10,495	)		—

Income (loss) before income taxes		49,051			173,952			254.6

Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes		6,032			12,201			102.3

Income (loss) before income taxes		55,083			186,153			238.0

*	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 six months ended						(B-A)/(A)
	September 30, 2012 (A)			September 30, 2013 (B)			(B-A)/(A)
Net gain (loss) related to economic hedging transactions		(267	)		5,706			—
Realized gain (loss) on investments in equity securities held for operating purposes		(123	)		688			—
Equity in earnings of affiliates		4,619			14,227			208.0
Corporate items		(420	)		(21,045	)		—
Other		20,520			(10,071	)		—

Total		24,329			(10,495	)		—

(6)

Significant Changes in Equity (UNAUDITED)

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


	Millions of yen
	For the six months ended September 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		(5,439	)
Issuance and exercise of common stock options		(3,777	)

Balance at end of period		682,048

Retained earnings
Balance at beginning of year		1,136,523
Net income attributable to NHI shareholders		104,007
Cash dividends		(29,652	)

Balance at end of period		1,210,878

Accumulated other comprehensive income (loss)
Cumulative translation adjustments
Balance at beginning of year		(38,875	)
Net change during the period		26,902

Balance at end of period		(11,973	)

Defined benefit pension plans
Balance at beginning of year		(28,518	)
Pension liability adjustment		1,302

Balance at end of period		(27,216	)

Non-trading securities
Balance at beginning of year		9,998
Net unrealized gain on non-trading securities		612

Balance at end of period		10,610

Balance at end of period		(28,579	)

Common stock held in treasury
Balance at beginning of year		(70,514	)
Repurchases of common stock		(32,482	)
Sale of common stock		0
Common stock issued to employees		22,662
Other net change in treasury stock		683

Balance at end of period		(79,651	)

Total NHI shareholders’ equity

Balance at end of period		2,379,189

Noncontrolling interests
Balance at beginning of year		24,612
Net change during the period		7,505

Balance at end of period		32,117

Total equity

Balance at end of period		2,411,306

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
	June 30, 2012			September 30, 2012		December 31, 2012			March 31, 2013		June 30, 2013 (A)		September 30, 2013 (B)		(B-A)/(A)			March 31, 2013
Revenue:
Commissions		77,367			72,279		83,681			125,742		157,634		105,613		(33.0	)		359,069
Fees from investment banking		10,383			17,131		13,027			21,812		25,394		22,984		(9.5	)		62,353
Asset management and portfolio service fees		33,813			33,411		35,017			38,788		42,381		40,702		(4.0	)		141,029
Net gain on trading		84,399			88,929		88,188			106,463		128,409		110,181		(14.2	)		367,979
Gain (loss) on private equity investments		(5,387	)		299		11,631			1,510		50		703		—			8,053
Interest and dividends		103,469			92,834		99,745			97,959		115,325		98,091		(14.9	)		394,007
Gain (loss) on investments in equity securities		(7,061	)		12,970		8,858			23,919		7,852		5,037		(35.9	)		38,686
Other		142,610			143,373		118,834			303,950		28,225		45,069		59.7			708,767

Total revenue		439,593			461,226		458,981			720,143		505,270		428,380		(15.2	)		2,079,943
Interest expense		70,339			59,547		69,895			66,531		73,949		71,989		(2.7	)		266,312

Net revenue		369,254			401,679		389,086			653,612		431,321		356,391		(17.4	)		1,813,631

Non-interest expenses:
Compensation and benefits		124,573			133,696		134,698			154,624		163,205		135,391		(17.0	)		547,591
Commissions and floor brokerage		21,978			21,904		22,918			24,588		29,046		26,134		(10.0	)		91,388
Information processing and communications		42,524			45,145		42,672			49,563		48,233		46,240		(4.1	)		179,904
Occupancy and related depreciation		24,110			22,140		22,179			23,116		19,784		20,830		5.3			91,545
Business development expenses		11,329			11,173		12,051			14,457		7,859		9,473		20.5			49,010
Other		125,074			132,204		141,603			217,582		49,975		45,389		(9.2	)		616,463

Total non-interest expenses		349,588			366,262		376,121			483,930		318,102		283,457		(10.9	)		1,575,901

Income before income taxes		19,666			35,417		12,965			169,682		113,219		72,934		(35.6	)		237,730
Income tax expense		13,590			30,056		12,874			75,519		46,956		34,549		(26.4	)		132,039

Net income		6,076			5,361		91			94,163		66,263		38,385		(42.1	)		105,691

Less: Net income (loss) attributable to noncontrolling interests		4,185			2,552		(20,021	)		11,741		369		272		(26.3	)		(1,543	)

Net income attributable to NHI shareholders		1,891			2,809		20,112			82,422		65,894		38,113		(42.2	)		107,234


	Yen														% Change			Yen
Per share of common stock:
Basic-
Net income attributable to NHI shareholders per share		0.51			0.76		5.44			22.23		17.78		10.29		(42.1	)		29.04

Diluted-
Net income attributable to NHI shareholders per share		0.50			0.74		5.33			21.55		17.24		9.99		(42.1	)		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 (A)			September 30, 2013 (B)			(B-A)/(A)			For the year ended March 31, 2013

Net revenue

Business segment information:
Retail		82,711			80,786		95,679			138,749		166,342			119,730			(28.0	)		397,925
Asset Management		16,418			15,439		18,786			18,294		20,174			18,626			(7.7	)		68,937
Wholesale		121,883			137,094		188,968			196,911		194,609			183,349			(5.8	)		644,856

Subtotal		221,012			233,319		303,433			353,954		381,125			321,705			(15.6	)		1,111,718
Other		154,567			156,003		76,753			276,905		43,032			29,649			(31.1	)		664,228

Net revenue		375,579			389,322		380,186			630,859		424,157			351,354			(17.2	)		1,775,946

Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes		(6,325	)		12,357		8,900			22,753		7,164			5,037			(29.7	)		37,685

Net revenue		369,254			401,679		389,086			653,612		431,321			356,391			(17.4	)		1,813,631


Non-interest expenses
Business segment information:
Retail		70,523			69,824		75,419			81,531		85,237			79,774			(6.4	)		297,297
Asset Management		11,048			10,879		11,468			14,373		13,483			12,454			(7.6	)		47,768
Wholesale		130,434			136,901		144,611			161,253		169,372			158,063			(6.7	)		573,199

Subtotal		212,005			217,604		231,498			257,157		268,092			250,291			(6.6	)		918,264
Other		137,583			148,658		144,623			226,773		50,010			33,166			(33.7	)		657,637

Non-interest expenses		349,588			366,262		376,121			483,930		318,102			283,457			(10.9	)		1,575,901

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

Non-interest expenses		349,588			366,262		376,121			483,930		318,102			283,457			(10.9	)		1,575,901


Income (loss) before income taxes
Business segment information:
Retail		12,188			10,962		20,260			57,218		81,105			39,956			(50.7	)		100,628
Asset Management		5,370			4,560		7,318			3,921		6,691			6,172			(7.8	)		21,169
Wholesale		(8,551	)		193		44,357			35,658		25,237			25,286			0.2			71,657

Subtotal		9,007			15,715		71,935			96,797		113,033			71,414			(36.8	)		193,454
Other*		16,984			7,345		(67,870	)		50,132		(6,978	)		(3,517	)		—			6,591

Income (loss) before income taxes		25,991			23,060		4,065			146,929		106,055			67,897			(36.0	)		200,045

Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes		(6,325	)		12,357		8,900			22,753		7,164			5,037			(29.7	)		37,685

Income (loss) before income taxes		19,666			35,417		12,965			169,682		113,219			72,934			(35.6	)		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 (A)			September 30, 2013 (B)			(B-A)/(A)		For the year ended March 31, 2013
Net gain (loss) related to economic hedging transactions		(1,231	)		964			415			841		7,373			(1,667	)		—		989
Realized gain (loss) on investments in equity securities held for operating purposes		(736	)		613			(42	)		1,166		688			0			—		1,001
Equity in earnings of affiliates		1,273			3,346			4,549			5,233		5,343			8,884			66.3		14,401
Corporate items		6,624			(7,044	)		(14,800	)		32,872		(12,344	)		(8,701	)		—		17,652
Other		11,054			9,466			(57,992	)		10,020		(8,038	)		(2,033	)		—		(27,452	)

Total		16,984			7,345			(67,870	)		50,132		(6,978	)		(3,517	)		—		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		September 30, 2013
Assets
Current Assets		3,221,039		3,417,001
Fixed Assets		2,554,812		2,589,547

Total Assets		5,775,850		6,006,549

Liabilities
Current Liabilities		663,807		763,926
Long-term Liabilities		3,236,320		3,229,637

Total Liabilities		3,900,128		3,993,563

Net Assets
Shareholders’ equity		1,774,048		1,915,841
Valuation and translation adjustments		56,585		55,927
Stock acquisition rights		45,090		41,217

Total Net Assets		1,875,723		2,012,986

Total Liabilities and Net Assets		5,775,850		6,006,549

Nomura Holdings, Inc. Unconsolidated Statements of Income (UNAUDITED)
	Millions of yen
	For the six months ended
	September 30, 2012		September 30, 2013
Operating revenue		149,145		289,257
Operating expenses		97,149		107,474

Operating income		51,996		181,783

Non-operating income		1,297		2,484
Non-operating expenses		4,566		1,830

Ordinary income		48,727		182,437

Special profits		7,075		1,138
Special losses		4,095		2,271

Income before income taxes		51,707		181,304

Income taxes - current		89		3,447
Income taxes - deferred		10,193		(2,038	)

Net income		41,425		179,896

(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_2q.pdf