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 2020

NOMURA HOLDINGS, INC.
(Translation of registrant’s name into English)

13-1, 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, 2020.

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 theundersigned, thereunto duly authorized.
NOMURA HOLDINGS, INC.
Date: October 28, 2020

By:/s/ Go Sugiyama
Go Sugiyama
Senior Managing Director

Financial Summary For the Six Months Ended September 30, 2020 (U.S. GAAP)
Date:
Company name (code number):
Stock exchange listings:
Representative:
For inquiries:

October 28, 2020
Nomura Holdings, Inc. (8604)(In Japan) Tokyo, Nagoya(Overseas) New York, Singapore
Kentaro Okuda
President and Group CEO, Nomura Holdings, Inc.
Junko Tago
Executive Director, Head of Investor Relations, Nomura Holdings, Inc.
Tel: (Country Code 81) 3-5255-1000
URL: https://www.nomura.com

1. Consolidated Operating Results(1) Operating Results(Rounded to nearest million)(Millions of yen, except per share data)
For the six months ended September 30
2019
2020
% Change from
% Change from
September 30, 2018
September 30, 2019

Total revenue
Net revenue
Income before income taxes
Net income attributable to Nomura Holdings, Inc. (“NHI”) shareholders
Comprehensive income
Basic-Net income attributable to NHI shareholders per share (Yen)
Diluted-Net income attributable to NHI shareholders per share (Yen)
Return on shareholders’ equity-annualized

1,085,283
23.4%
715,38128.9%
203,292— %194,407— %158,417146.0%
58.89
57.66
14.6%

933,391(14.0%)
829,745
16.0%
265,43830.6%
210,158
8.1%
150,930(4.7%)
68.87
67.10
15.6%

Note: Return on shareholders’ equity is a ratio of Net income attributable to NHI shareholders to Total NHI shareholders’ equity.
(2) Financial Position(Millions of yen, except per share data)
At March 31
2020

Total assets
Total equity
Total NHI shareholders’ equity
Total NHI shareholders’ equity as a percentage of total assets
Total NHI shareholders’ equity per share (Yen)

43,999,815
2,731,264
2,653,467
6.0%
873.26

At September 30
2020

42,684,437
2,786,054
2,731,3966.4%
893.25

2. Cash Dividends(Yen amounts)
2020

Dividends per share
Dividends record dates
At June 30
At September 30
At December 31
At March 31
For the year

For the year ended March 31
2021
2021 (Plan)

—
15.00
—
5.00
20.00

—
20.00
—
—
—

—
—
—
Unconfirmed
Unconfirmed

Note: Fiscal year 2021 Q4 dividend amount are not presented per reasons stated in “3. Earnings Forecasts for the year ending March 31, 2021”.
3. Earnings Forecasts for the year ending March 31, 2021
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 policiesa)b)Changes in accounting policies due to amendments to the accounting standards : Yes
Changes in accounting policies due to other than a) : None

(4) Number of shares issued (common stock)

Number of shares outstanding (including treasury stock)
Number of treasury stock

At March 31
2020

At September 30
2020

3,493,562,601
454,975,108

3,493,562,601
435,758,440

For the six months ended September 30
2019
2020

Average number of shares outstanding (year-to-date)*This financial summary is not subject to certified public accountant’s or audit firm’s quarterly review.

3,301,269,085

3,051,543,718

Table of Contents for the Accompanying Materials
1.

Qualitative Information of the Quarterly Consolidated Results

P. 2(1) Consolidated Operating Results(2) Consolidated Financial Position(3) Consolidated Earnings Forecasts(4) Risks related to the COVID-19 pandemic

P. 2
P. 4
P. 4
P. 4

2. Notes to the Summary Information

P. 5(1) Changes in Accounting Policies

P. 5
P. 5

3. Quarterly Consolidated Financial Statements
(1)
(2)
(3)
(4)
(5)
(6)
(7)
4.

P. 6
P. 8
P. 9
P. 9
P.10
P.11
P.12

Consolidated Balance Sheets
Consolidated Statements of Income
Consolidated Statements of Comprehensive Income
Note with respect to the Assumption as a Going Concern
Segment Information – Operating Segment
Significant Changes in Equity
Subsequent Event

Supplementary Information

P.13(1) Consolidated Statements of Income – Quarterly Comparatives(2) Business Segment Information – Quarterly Comparatives(3) Other

P.13
P.14
P.15
–1–

1.

Qualitative Information of the Quarterly Consolidated Results(1)

Consolidated Operating Results

U.S. GAAP
Billions of yen
For the six months ended
September 30,
September 30,
2019 (A)2020 (B)Net revenue
Non-interest expenses
Income (loss) before income taxes
Income tax expense
Net income (loss)
Less: Net income (loss) attributable to noncontrolling interests
Net income (loss) attributable to NHI shareholders
Return on shareholders’ equity-annualized

715.4
512.1
203.3
6.0
197.3
2.8
194.4
14.6%

829.7
564.3
265.4
52.2
213.2
3.1
210.2
15.6%

% Change(B-A)/(A)

16.0
10.2
30.6
764.2
8.1
7.7
8.1
—

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 829.7 billion yen for the six months ended
September 30, 2020, an increase of 16.0% from the same period in the prior year. Non-interest expenses increased by 10.2% from the same period in theprior year to 564.3 billion yen. Income before income taxes was 265.4 billion yen and net income attributable to NHI shareholders was 210.2 billion yen
for the six months ended September 30, 2020.
Segment Information
Billions of yen
For the six months ended
September 30,
September 30,
2019 (A)2020 (B)Net revenue
Non-interest expenses
Income (loss) before income taxes

717.5
512.1
205.4

825.5
564.3
261.2

% Change(B-A)/(A)

15.1
10.2
27.2

In the above segment information totals, which exclude a part of unrealized gain (loss) on investments in equity securities held for operating
purposes, net revenue for the six months ended September 30, 2020 was 825.5 billion yen, an increase of 15.1% from the same period in the prior year.
Non-interest expenses increased by 10.2% from the same period in the prior year to 564.3 billion yen. Income before income taxes was 261.2 billion yen
for the six months ended September 30, 2020. Please refer to page 10 for further details of the differences between U.S. GAAP and business segment
amounts.
–2–

<Business Segment Results>
Operating Results of RetailBillions of yen
For the six months ended
September 30,
September 30,
2019 (A)2020 (B)Net revenue
Non-interest expenses
Income (loss) before income taxes

157.5
144.1
13.4

173.9
136.0
37.9

% Change(B-A)/(A)

10.4
(5.7)
183.2

Net revenue increased by 10.4% from the same period in the prior year to 173.9 billion yen, primarily due to increasing commissions frombrokerage and distribution of investment trusts. Non-interest expense decreased by 5.7% to 136.0 billion yen. As a result, income before income taxes
increased by 183.2% to 37.9 billion yen.
Operating Results of Asset Management
Billions of yen
For the six months ended
September 30,
September 30,
2019 (A)2020 (B)Net revenue
Non-interest expenses
Income (loss) before income taxes

60.2
32.0
28.2

60.9
30.3
30.6

% Change(B-A)/(A)

1.1
(5.2)
8.4

Net revenue increased by 1.1% from the same period in the prior year to 60.9 billion yen. Non-interest expense decreased by 5.2% to 30.3 billion
yen. As a result, income before income taxes increased by 8.4% to 30.6 billion yen. Assets under management were 55.7 trillion yen as of
September 30, 2020.
Operating Results of Wholesale
Billions of yen
For the six months ended
September 30,
September 30,
2019 (A)2020 (B)Net revenue
Non-interest expenses
Income (loss) before income taxes

316.2
277.3
38.9

469.0
315.6
153.3

Net revenue increased by 48.3% from the same period in the prior year to 469.0 billion yen. Non-interest expense increased by 13.8% to315.6 billion yen. As a result, income before income taxes was 153.3 billion yen.
–3–

% Change(B-A)/(A)

48.3
13.8
293.9

Other Operating Results
Billions of yen
For the six months ended
September 30,
September 30,
2019 (A)2020 (B)Net revenue
Non-interest expenses
Income (loss) before income taxes

183.6
58.7
124.9

% Change(B-A)/(A)

121.8
82.4
39.4

(33.7)
40.3(68.5)Net revenue was 121.8 billion yen including income of 71.1 billion yen profit resulting from the rights conversion related to the Tokyo
Nihonbashi district redevelopment project. Income before income taxes was 39.4 billion yen.
(2)

Consolidated Financial Position

Total assets as of September 30, 2020 were 42,684.4 billion yen, a decrease of 1,315.4 billion yen compared to March 31, 2020, mainly due to thedecrease in Receivables from other than customers. Total liabilities as of September 30, 2020 were 39,898.4 billion yen, a decrease of 1,370.2 billion
yen compared to March 31, 2020, mainly due to the decrease in Securities sold under agreements to repurchase. Total equity as of September 30, 2020
was 2,786.1 billion yen, an increase of 54.8 billion yen compared to March 31, 2020.
(3)

Consolidated Earnings Forecasts

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 and dividend forecasts.
(4)

Risks related to the COVID-19 pandemic
The COVID-19 pandemic has affected Nomura’s business, and this may continue in the future.

Various risks recognized related to the COVID-19 pandemic is disclosed in Risk Factors in Nomura Holdings, Inc.’s Annual Securities Report(the annual report filed in Japan on June 30, 2020) and Item 3. D. Risk Factors. in Form 20-F (the annual report filed with the U.S. Securities andExchange Commission on June 30, 2020) for the year ended March 31, 2020.
–4–

2.

Notes to the Summary Information(1)

Changes in Accounting Policies

Measurement of Credit Losses on Financial Instruments
On April 1, 2020, Nomura adopted Accounting Standards Update 2016-13 “Measurement of Credit Losses on Financial Instruments” using amodified retrospective transition method. The impact of this adoption was, for financial instruments subject to current expected credit losses,¥1,972 million increase in Allowance for doubtful accounts, ¥638 million increase in Other liabilities, ¥72 million increase of Deferred tax assets andcumulative effect adjustment to decrease Retained earnings, net of tax, of ¥2,538 million as of April 1, 2020.
For financial instruments elected for the fair value option, the impact was ¥9,774 million decrease in Loans receivable, ¥5,888 million increase in
Other liabilities and cumulative effect adjustment to decrease Retained earnings, net of tax, of ¥15,662 million as of April 1, 2020.
3.

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 30,2020) and Form 20-F (the annual report filed with the U.S. Securities and Exchange Commission on June 30, 2020) for the year ended March 31, 2020.
While the COVID-19 pandemic impacted some of the critical accounting estimates and underlying assumptions used in the consolidated financial
statements during the year ended March 31, 2020, no significant further adverse changes in such estimates as a result of the COVID-19 pandemic
occurred during the six months ended September 30, 2020.
–5–

(1)

Consolidated Balance Sheets

ASSETSCash and cash deposits:
Cash and cash equivalents
Time deposits
Deposits with stock exchanges and other segregated cash
Total cash and cash deposits
Loans and receivables:
Loans receivable
Receivables from customers
Receivables from other than customers
Allowance for doubtful accounts
Total loans and receivables
Collateralized agreements:
Securities purchased under agreements to resell
Securities borrowed
Total collateralized agreements
Trading assets and private equity and debt investments:
Trading assets*
Private equity and debt investments*
Total trading assets and private equity and debt investments
Other assets:
Office buildings, land, equipment and facilities(net of accumulated depreciation and amortization of¥397,114 million as of March 31, 2020 and¥384,060 million as of September 30, 2020)
Non-trading debt securities*
Investments in equity securities*
Investments in and advances to affiliated companies*
Other
Total other assets
Total assets* Including securities pledged as collateral–6–

March 31,
2020

Millions of yen
September 30,
2020

3,191,889
309,373373,686
3,874,948

3,941,802
191,277
391,594
4,524,673

2,857,405
541,284
1,731,236(13,012)
5,116,913

2,344,080(513,325)
514,711(26,573)877,751(853,485)(11,356)
1,656
3,725,186 (1,391,727)

12,377,315
3,529,797
15,907,112

12,063,662
3,502,286
15,565,948(313,653)(27,511)(341,164)

16,853,822
44,27816,898,100

16,515,538
55,432
16,570,970(338,284)
11,154(327,130)

440,512455,392
112,175
367,641
827,0222,202,742
43,999,815

466,373
411,980
112,880
391,286
915,141
2,297,660
42,684,437

25,861(43,412)705
23,645
88,11994,918(1,315,378)

Increase/(Decrease)749,913(118,096)
17,908649,725

LIABILITIES AND EQUITY
Short-term borrowings
Payables and deposits:
Payables to customers
Payables to other than customers
Deposits received at banks
Total payables and deposits
Collateralized financing:
Securities sold under agreements to repurchase
Securities loaned
Other secured borrowings
Total collateralized financing
Trading liabilities
Other liabilities
Long-term borrowings
Total liabilities
EquityNHI shareholders’ equity:
Common stock
Authorized - 6,000,000,000 shares
Issued - 3,493,562,601 shares as of March 31, 2020 and
3,493,562,601 shares as of September 30, 2020
Outstanding - 3,038,587,493 shares as of March 31, 2020 and
3,057,804,161 shares as of September 30, 2020
Additional paid-in capital
Retained earnings
Accumulated other comprehensive income (loss)
Total NHI shareholders’ equity before treasury stock
Common stock held in treasury, at cost 454,975,108 shares as of March 31, 2020 and
435,758,440 shares as of September 30, 2020
Total NHI shareholders’ equity
Noncontrolling interests
Total equity
Total liabilities and equity

March 31,
2020

Millions of yen
September 30,
2020

1,486,733

1,346,414(140,319)

1,467,434
1,653,495
1,276,153
4,397,082

1,286,985
1,281,977
1,181,169
3,750,131(180,449)(371,518)(94,984)(646,951)

16,349,182
961,446
717,71118,028,339
8,546,284
1,034,448
7,775,665
41,268,551

15,427,476
1,119,095
348,484
16,895,055
8,789,496
1,049,465
8,067,822
39,898,383(921,706)
157,649(369,227)(1,133,284)
243,212
15,017292,157(1,370,168)

594,493683,232
1,645,451(26,105)
2,897,071

594,493683,233
1,775,691(88,706)
2,964,711

Increase/(Decrease)—1
130,240(62,601)
67,640(243,604)(233,315)
10,2892,653,467
2,731,396
77,92977,79754,658(23,139)
2,731,264
2,786,054
54,79043,999,815 42,684,437 (1,315,378)
–7–

(2)

Consolidated Statements of Income
Millions of yen% Change
For the six months ended
September 30, September 30,
2019(A)
2020(B)(B-A)/(A)Revenue:Commissions
Fees from investment banking
Asset management and portfolio service fees
Net gain on trading
Gain on private equity and debt investments
Interest and dividends
Gain (loss) on investments in equity securities
Other
Total revenue
Interest expense
Net revenue
Non-interest expenses:
Compensation and benefits
Commissions and floor brokerage
Information processing and communications
Occupancy and related depreciation
Business development expenses
Other
Total non-interest expenses
Income before income taxes
Income tax expense
Net income
Less: Net income attributable to noncontrolling interests
Net income attributable to NHI shareholders
Per share of common stock:

133,454
49,576
119,889
218,434
1,772
415,354(755)
147,559
1,085,283
369,902715,381

177,765
37,859111,073
270,552
2,875
189,037
5,413
138,817933,391
103,646829,745

33.2(23.6)
(7.4)
23.9
62.2
(54.5)—(5.9)(14.0)(72.0)
16.0

245,527
49,997
84,11837,48015,734
79,233512,089
203,292
6,042
197,250
2,843
194,407275,30356,18685,822
36,114
6,464
104,418564,307265,438
52,217
213,2213,063
210,158

12.1
12.4
2.0
(3.6)
(58.9)
31.8
10.2
30.6
764.2
8.1
7.7
8.1

Yen

BasicNet income attributable to NHI shareholders per share
DilutedNet income attributable to NHI shareholders per share–8–% Change

58.89

68.87

16.9

57.66

67.10

16.4

(3)

Consolidated Statements of Comprehensive Income
Millions of yen
For the six months ended
September 30, September 30,
2019(A)
2020(B)Net income
Other comprehensive income (loss):
Cumulative translation adjustments:
Cumulative translation adjustments
Deferred income taxes
Total
Defined benefit pension plans:
Pension liability adjustment
Deferred income taxes
Total
Own Credit Adjustments:
Own Credit Adjustments
Deferred income taxes
Total
Total other comprehensive income (loss)
Comprehensive income
Less: Comprehensive income attributable to noncontrolling interests
Comprehensive income attributable to NHI shareholders(4)

Note with respect to the Assumption as a Going Concern
Not applicable.
–9–% Change(B-A)/(A)197,250

213,2218.1(39,320)245(39,075)(19,837)(60)(19,897)

—
—
—

3,005
912
3,917

4,017
(627)
3,390

33.7
—
(13.5)(3,156)(519)(3,675)(38,833)
158,4172,403
156,014(53,351)
7,567(45,784)(62,291)
150,930
3,373
147,557

—
—
—
—
(4.7)
40.4
(5.4)

(5)

Segment Information – Operating Segment
The following table shows business segment information and reconciliation items to the consolidated statements of income.
Millions of yen
For the six months ended
September 30, September 30,
2019 (A)2020 (B)% Change(B-A)/(A)Net revenue
Business segment information:
RetailAsset Management
Wholesale
Subtotal
Other
Net revenue
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes
Net revenue

157,522
60,176
316,184
533,882
183,584
717,466

173,873
60,866468,974
703,713
121,775
825,488

10.4
1.1
48.3
31.8
(33.7)
15.1(2,085)715,3814,257
829,745—
16.0

144,143
31,988277,256453,387
58,702512,089

135,979
30,312
315,628
481,919
82,388564,307

(5.7)
(5.2)
13.8
6.3
40.3
10.2

—
512,089—564,307—
10.2

13,37928,18838,92880,495
124,882
205,377

37,89430,554
153,346
221,794
39,387
261,181

183.2
8.4
293.9
175.5
(68.5)
27.2(2,085)203,292

4,257
265,438—
30.6

Non-interest expenses
Business segment information:
RetailAsset Management
Wholesale
Subtotal
Other
Non-interest expenses
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes
Non-interest expenses
Income (loss) before income taxes
Business segment information:
RetailAsset Management
Wholesale
Subtotal
Other*
Income (loss) before income taxes
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes
Income (loss) before income taxes* 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
For the six months ended
September 30, September 30,
2019 (A)2020 (B)Net gain (loss) related to economic hedging transactions
Realized gain (loss) on investments in equity securities held for operating purposes
Equity in earnings of affiliates
Corporate items
Other
Total
– 10 –

19,837
1,330
16,274(3,244)
90,685
124,882612
809
11,86029,085(2,979)39,387% Change(B-A)/(A)(96.9)(39.2)(27.1)——(68.5)

(6)Significant Changes in Equity
Not applicable. For further details of the changes, please refer below.
Millions of yen
For the six months ended
September 30, 2020

Common stock
Balance at beginning of year
Balance at end of period
Additional paid-in capital
Balance at beginning of year
Stock-based compensation awards
Changes in an affiliated company’s interests in its subsidiary
Balance at end of period
Retained earnings
Balance at beginning of year
Cumulative effect of change in accounting principle (1)Net income attributable to NHI shareholders
Cash dividends
Gain (loss) on sales of treasury stock
Balance at end of period
Accumulated other comprehensive income (loss)
Cumulative translation adjustments
Balance at beginning of year
Net change during the period
Balance at end of period
Defined benefit pension plans
Balance at beginning of year
Pension liability adjustment
Balance at end of period
Own credit adjustments
Balance at beginning of year
Own credit adjustments
Balance at end of period
Balance at end of period
Common stock held in treasury
Balance at beginning of year
Repurchases of common stock
Sale of common stock
Common stock issued to employees
Balance at end of period
Total NHI shareholders’ equity
Balance at end of period
Noncontrolling interests
Balance at beginning of year
Net change during the period
Balance at end of period
Total equity
Balance at end of period(1)594,493594,493683,232(1,117)1,118
683,233
1,645,451(18,200)
210,158(61,156)(562)
1,775,691(26,274)(20,207)(46,481)(62,571)
3,390(59,181)
62,740(45,784)
16,956(88,706)(243,604)(3)
0
10,292(233,315)
2,731,396
77,797(23,139)
54,6582,786,054

Represents the adjustment to initially apply Accounting Standards Update 2016-13 “Measurement of Credit Losses on Financial Instruments”,
please refer to section “2. Notes to the Summary Information (1) Changes in Accounting Policies.”– 11 –

(7)Subsequent Event
On October 27, 2020, the Company has resolved to cancel a part of its own shares in accordance with Article 178 of the Companies Act of Japan.
Outline of Cancellation
1. Type of shares to be cancelled
2. Number of shares to be cancelled
3. Scheduled cancellation date

Nomura Holdings common shares
260,000,000 shares(7.4 percent of outstanding shares)
December 1, 2020– 12 –

4.

Supplementary Information(1)

Consolidated Statements of Income – Quarterly Comparatives

June 30,
2019

Revenue:Commissions
Fees from investment banking
Asset management and portfolio service fees
Net gain on trading
Gain (loss) on private equity and debt
investments
Interest and dividends
Gain (loss) on investments in equity securities
Other
Total revenue
Interest expense
Net revenue
Non-interest expenses:
Compensation and benefits
Commissions and floor brokerage
Information processing and communications
Occupancy and related depreciation
Business development expenses
Other
Total non-interest expenses
Income (loss) before income taxes
Income tax expense
Net income (loss)
Less: Net income (loss) attributable to noncontrollinginterests
Net income (loss) attributable to NHI shareholders

Millions of yen
For the three months ended
September 30, December 31, March 31,
2019
2019
2020

% Change
June 30,
2020(A)

September 30,
2020(B)(B-A)/(A)68,20027,311
59,963112,825

65,254
22,26559,926105,60979,28926,80361,020109,266

96,062
26,84357,29328,90985,512
10,82853,656
139,089

92,25327,031
57,417
131,463

7.9
149.6
7.0
(5.5)

308,805
103,222238,202356,609791
199,473(2,838)45,654
511,379
179,378
332,001

981
215,881
2,083
101,905
573,904
190,524
383,380

1,503
203,050
2,243
14,276497,450
162,472
334,978(3,368)176,068(16,214)4,156
369,749
132,279
237,470

1,070
106,543
3,473
113,878
514,049
53,302
460,747

1,805
82,494
1,940
24,939419,342
50,344368,998

68.7(22.6)(44.1)(78.1)(18.4)(5.5)(19.9)(93)
794,472(14,726)
165,991
1,952,482
664,653
1,287,829

125,102
24,551
41,757
19,1207,828
38,837257,195
74,806
17,91756,889120,425
25,44642,361
18,3607,906
40,396
254,894
128,486(11,875)
140,361

128,987
24,56842,821
16,276
8,509
44,130265,291
69,687
10,33759,350104,906
31,55843,37819,2307,642
55,474
262,188(24,718)
12,515(37,233)

138,297
28,511
43,23817,0582,832
49,000278,936
181,81137,513
144,298

137,006
27,67542,584
19,056
3,632
55,418285,371
83,627
14,70468,923

(0.9)
(2.9)
(1.5)
11.7
28.2
13.1
2.3
(54.0)(60.8)(52.2)

479,420
106,123
170,317
72,98631,885
178,837
1,039,568
248,261
28,894
219,367

1,056
55,833

1,787
138,574

2,284 (2,758)
1,782
57,066 (34,475) 142,516

1,281
67,642(28.1)(52.5)

2,369
216,998

Yen

Per share of common stock:
BasicNet income (loss) attributable to NHI shareholders
per share
DilutedNet income (loss) attributable to NHI shareholders
per share

Millions of yen
For the year ended
March 31,2020

% Change

Yen

16.83

42.11

18.07

(11.29)

46.77

22.13

(52.7)

67.76

16.48

41.23

17.63

(11.31)

45.65

21.52

(52.9)

66.20– 13 –

(2)Business Segment Information – Quarterly Comparatives
The following table shows quarterly business segment information and reconciliation items to the consolidated statements of income.

June 30,
2019

Millions of yen
For the three months ended
September 30, December 31, March 31,
2019
2019
2020

% Change
June 30,
2020(A)

September 30,
2020(B)(B-A)/(A)Millions of yen
For the year ended
March 31,2020

Net revenue
Business segment information:
Retail80,640Asset Management
34,500Wholesale
159,486
Subtotal
274,626
Other
60,289Net revenue
334,915
Reconciliation items:
Unrealized gain (loss) on investments in equity
securities held for operating purposes(2,914)
Net revenue
332,001

76,882
25,676
156,698259,256
123,295
382,551

90,04325,405186,527
301,975
35,695
337,670

88,794
7,024
145,908
241,726
12,294254,020

81,07834,024
248,669
363,771
94,673
458,444

92,795
26,842
220,305
339,942
27,102367,044

14.5(21.1)(11.4)(6.6)(71.4)(19.9)

336,359
92,605648,619
1,077,583
231,573
1,309,156

829
383,380(2,692) (16,550)
2,303
334,978 237,470 460,747

1,954
368,998(15.2)(19.9)(21,327)
1,287,829

71,621
15,630137,777
225,028
29,866
254,894

72,40316,085
143,324
231,81233,479265,291

70,38015,760135,819
221,959
40,229262,188

66,00914,870160,800
241,679
37,257
278,936

69,97015,442
154,828240,240
45,131
285,371

6.0
3.8
(3.7)
(0.6)
21.1
2.3

286,926
63,833556,399
907,158
132,410
1,039,568—
254,894—
265,291—
262,188—278,936—
285,371—
2.3—
1,039,568

5,261
10,04618,921
34,22893,429127,657

17,6409,320
43,20370,163
2,216
72,37918,414
15,069(8,736) 19,154
10,08987,86919,767 122,092(27,935) 57,416(8,168) 179,508

22,825
11,40065,477
99,702(18,029)
81,67351.5(40.5)(25.5)(18.3)—(54.5)

49,433
28,772
92,220170,425
99,163
269,588

Non-interest expenses
Business segment information:
Retail
72,522
Asset Management
16,358Wholesale139,479
Subtotal
228,359
Other
28,836
Non-interest expenses
257,195
Reconciliation items:
Unrealized gain (loss) on investments in equity
securities held for operating purposes—
Non-interest expenses
257,195
Income (loss) before income taxes
Business segment information:
RetailAsset Management
Wholesale
Subtotal
Other*
Income (loss) before income taxes
Reconciliation items:

8,118
18,14220,007
46,26731,45377,720Unrealized gain (loss) on investments in equity
securities held for operating purposes
Income (loss) before income taxes(2,914)74,806

829
128,486(2,692) (16,550)
2,303
69,687 (24,718) 181,811

1,954
83,627(15.2)(54.0)(21,327)
248,261* 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.”

June 30, September 30,
2019
2019

Net gain (loss) related to economic hedging
transactions
12,794
Realized gain (loss) on investments in equity securities
held for operating purposes
76
Equity in earnings of affiliates
8,265
Corporate items
1,391
Other
8,927
Total
31,453

Millions of yen
For the three months ended
December 31, March 31, June 30,
2019
2020
2020(A)

September 30,
2020(B)(B-A)/(A)Millions of yen
For the year ended
March 31,
2020

7,043

2,333

5,577

(4,965)—

17,5481,254
8,009(4,635)81,75893,429

4,935
336
685
4,798 13,918
6,609(9,095) (9,901) 45,090(755) (27,666)(545)
2,216 (27,935) 57,416

124
5,251
(16,005)(2,434)(18,029)(81.9)(20.5)———

6,601
34,990(22,240)
62,264
99,163– 14 –(4,622)% Change

(3)

Other
Quarterly financial information for Nomura Securities Co., Ltd. can be found at the following URL.
https://www.nomuraholdings.com/company/group/nsc/pdf/2021_2q.pdf– 15 –