FORM 6-K/A
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 June 2024

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 – Year ended March 31, 2019 (Amended).
EXPLANATORY NOTE: The registrant furnished to the SEC a report on Form 6-K on April 25, 2019. The registrant is furnishing thisForm 6-K/A in order to replace Exhibit 1 “Financial Summary –Year ended March 31, 2019” furnished on Form 6-K on April 25, 2019 with
Exhibit 1 to this report. The purpose of this Form 6-K/A is as follows:•

To restate the Company’s consolidated financial statements as of March 31, 2018 and 2019 to correct certain material presentation andclassification errors identified within the Company’s consolidated statement of cash flows;•

To amend relevant disclosures in the Summary and Overview of Consolidated Operating Results related to the cash flow statement errors.

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: June 25, 2024

By:/s/ Yoshifumi Kishida
Yoshifumi Kishida
Senior Managing Director

Financial Summary For the Year Ended March 31, 2019 (U.S. GAAP)
Date:
Company name (code number):
Stock exchange listings:
Representative:
For inquiries:

April 25, 2019

Nomura Holdings, Inc. (8604)(In Japan) Tokyo, Nagoya(Overseas) New York, Singapore
Koji Nagai
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)
For the year ended March 31
2018
2019
(Millions of yen, except per share data)% Change from
% Change fromMarch 31, 2017
March 31, 2018

Total revenue
Net revenue
Income (loss) before income taxes
Net income (loss) attributable to Nomura Holdings, Inc. (“NHI”) shareholders
Comprehensive income (loss)
Basic-Net income (loss) attributable to NHI shareholders per share (Yen)
Diluted-Net income (loss) attributable to NHI shareholders per share (Yen)
Return on shareholders’ equity
Income before income taxes to total assets
Income before income taxes divided by total revenue
Equity in earnings of affiliates

1,972,158
1,496,969
328,158
219,343
125,686
63.13
61.88
7.9%
0.8%
16.6%
34,516

15.0% 1,835,118
6.7% 1,116,770
1.7%(37,701)(8.5%) (100,442)(40.1%)(63,655)(29.90)(29.92)(3.7%)(0.1%)(2.1%)
32,014(6.9%)(25.4%)
— %
— %
— %

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
2018
2019
(Millions of yen, except per share data)

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)

40,343,947
2,799,824
2,749,3206.8%
810.3140,969,439
2,680,793
2,631,061
6.4%
794.69(3) Cash Flows
For the year ended March 31
2018

2019
(Millions of yen)

Net cash used in operating activities
Net cash used in investing activities
Net cash provided by financing activities
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of theyear(341,305)(296,741)
509,352(62,010)(420,464)
769,9972,354,868

2,687,132

2. Cash Dividends
For the year ended March 31
2018
2019
(Yen amounts, except total annual dividends)

Dividends per share
Dividends record dates
At June 30
At September 30
At December 31
At March 31
For the year
Total annual dividends (Millions of yen)
Consolidated payout ratio
Consolidated dividends as a percentage of shareholders’ equity per share

—
9.00
—
11.00
20.00
68,704
31.7%
2.5%

—
3.00
—
3.00
6.00
20,082(20.1%)
0.7%

3. Earnings Forecasts for the year ending March 31, 2020
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 dividends forecasts.
Notes(1) Changes in significant subsidiaries during the period: None
(Changes in Specified Subsidiaries accompanying changes in scope of consolidation.)(2) 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) : Yes(3) Number of shares issued (common stock)
At March 31
2018

Number of shares outstanding (including treasury stock)
Number of treasury stock2019

3,643,562,601
250,625,115

3,493,562,601
182,761,802

For the year ended March 31
2018

Average number of shares outstanding*This financial summary is not subject to certified public accountant’s or audit firm’s audits

3,474,593,441

2019

3,359,564,840

Table of Contents for the Accompanying Materials
Overview of Consolidated Operating Results

P.2

(1)
(2)
(3)

Overview of Consolidated Operating Results
Overview of Consolidated Financial Position
Overview of Cash Flows

P.2
P.4
P.4

2.

Considerations in the selection of accounting standards

P.5

3.

Consolidated Financial Statements

P.5(1) Consolidated Balance Sheets(2) Consolidated Statements of Income(3) Consolidated Statements of Comprehensive Income(4) Consolidated Statements of Changes in Equity(5) Consolidated Statements of Cash Flows(6) Note with respect to the Assumption as a Going Concern(7) Changes in Accounting Policies(8) Notes to the Consolidated Financial Statements(9) Other Financial Information

P.6
P.8
P.9
P.10
P.11
P.12
P.12
P.13
P.15

Other Information

P.17

1.

4.

–1–

1.

Overview of Consolidated Operating Results(1)

Overview of Consolidated Operating Results

Operating Results
U.S. GAAP
Billions of yen
For the year ended
March 31,
March 31,2018 (A)2019 (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 *% Change(B-A)/(A)1,497.0
1,168.8
328.2
103.9
224.3

1,116.8
1,154.5(37.7)
57.0(94.7)(25.4)(1.2)—(45.1)
—

4.9
219.3

5.7
(100.4)

15.8
—

7.9%

(3.7%)—* 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 (“Nomura”) reported net revenue of 1,116.8 billion yen for the fiscal year ended March 31,
2019, a decrease of 25.4% from the previous year. Non-interest expenses decreased by 1.2% from the previous year to 1,154.5 billion yen. Lossbefore income taxes was 37.7 billion yen and Net loss attributable to NHI shareholders was 100.4 billion yen for the fiscal year ended March 31,
2019. Non-interest expenses for the fiscal year ended March 31, 2019 included a loss of 81.4 billion yen from the goodwill impairment attributable to
Wholesale.
Segment Information
Billions of yen
For the year ended
March 31,
March 31,2018 (A)2019 (B)Net revenue
Non-interest expenses
Income (loss) before income taxes

1,495.1
1,168.8
326.3

1,124.0
1,154.5(30.5)% Change(B-A)/(A)(24.8)(1.2)—

In business segment totals, which exclude unrealized gain (loss) on investments in equity securities held for operating purposes, net revenue forthe fiscal year ended March 31, 2019 was 1,124.0 billion yen, a decrease of 24.8% from the previous year. Non-interest expenses decreased by 1.2%
from the previous year to 1,154.5 billion yen. Loss before income taxes was 30.5 billion yen for the fiscal year ended March 31, 2019. Please refer topage 13 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 year ended
March 31,
March 31,2018 (A)2019 (B)Net revenue
Non-interest expenses
Income (loss) before income taxes

412.9
309.8
103.1

% Change(B-A)/(A)

339.5
290.0
49.5

(17.8)(6.4)(52.0)Net revenue decreased by 17.8% from the previous year to 339.5 billion yen, primarily due to decreasing commissions from distribution of
investment trusts and brokerage. Non-interest expenses decreased by 6.4% to 290.0 billion yen. As a result, income before income taxes decreased by
52.0% to 49.5 billion yen.
Operating Results of Asset Management
Billions of yen
For the year ended
March 31,
March 31,2018 (A)2019 (B)Net revenue
Non-interest expenses
Income (loss) before income taxes

127.3
61.2
66.2

% Change(B-A)/(A)

97.8
63.7
34.2

(23.2)
4.1(48.3)Net revenue decreased by 23.2% from the previous year to 97.8 billion yen. Non-interest expenses increased by 4.1% to 63.7 billion yen. As aresult, income before income taxes decreased by 48.3% to 34.2 billion yen. Assets under management were 51.4 trillion yen as of March 31, 2019.
Operating Results of Wholesale
Billions of yen
For the year ended
March 31,
March 31,2018 (A)2019 (B)Net revenue
Non-interest expenses
Income (loss) before income taxes

715.3
614.7
100.6

555.4
666.8
(111.4)% Change(B-A)/(A)(22.4)
8.5—

Net revenue decreased by 22.4% from the previous year to 555.4 billion yen. Non-interest expenses increased by 8.5% to 666.8 billion yen due toa loss of 81.0 billion yen from the goodwill impairment attributable to Wholesale. As a result, loss before income taxes was 111.4 billion yen.
Other Operating Results
Billions of yen
For the year ended
March 31,
March 31,2018 (A)2019 (B)Net revenue
Non-interest expenses
Income (loss) before income taxes

239.5
183.1
56.4

Net revenue was 131.3 billion yen and loss before income taxes was 2.8 billion yen.
–3–

131.3
134.0
(2.8)

% Change(B-A)/(A)(45.2)(26.8)—

(2) Overview of Consolidated Financial Position
Total assets as of March 31, 2019, were 40,969.4 billion yen, an increase of 625.5 billion yen compared to March 31, 2018, mainly due to theincrease in Securities purchased under agreements to resell. Total liabilities as of March 31, 2019 were 38,288.6 billion yen, an increase of
744.5 billion yen compared to March 31, 2018, mainly due to the increase in Long-term borrowings. Total equity as of March 31, 2019 was
2,680.8 billion yen, a decrease of 119.0 billion yen compared to March 31, 2018. During the year ended March 31, 2019, Nomura cancelled
150,000,000 shares of its own shares.
(3) Overview of Cash Flows
Cash, cash equivalents, restricted cash and restricted cash equivalents as of March 31, 2019, increased by 332.3 billion yen compared toMarch 31, 2018. Cash flows from operating activities for the year ended March 31, 2019 were outflows of 62.0 billion yen due mainly to theincrease in Securities purchased under agreements to resell, net of securities sold under agreements to repurchase. Cash flows from investing
activities for the year ended March 31, 2019 were outflows of 420.5 billion yen due mainly to Payments for purchases or origination of other nontrading loans. Cash flows from financing activities for the year ended March 31, 2019 were inflows of 770.0 billion yen due primarily to Proceedsfrom issuances of long-term borrowings.
–4–

2.

Considerations in the selection of accounting standards
Nomura currently adopts U.S. generally accepted accounting principles. Depending on factors such as trends by other companies and the impact
of International Financial Reporting Standards (“IFRS”) on Nomura’s businesses, Nomura may consider in adopting IFRS in the future.

3.

Consolidated Financial Statements
The consolidated financial information herein has been prepared in accordance with Nomura’s accounting policies which are disclosed in thenotes to the consolidated financial statements of Nomura Holdings, Inc.’s Annual Securities Report (the annual report filed in Japan on June 25,2018) and Form 20-F (the annual report filed with the U.S. Securities and Exchange Commission on June 25, 2018) for the year ended March 31,
2018.
–5–

(1) Consolidated Balance Sheets
March 31,2018

Millions of yen
March 31,2019

2,354,639
315,445288,9622,959,046

2,686,659
289,753
285,457
3,261,869

332,020(25,692)(3,505)
302,823

2,462,503
442,343
973,867(3,514)
3,875,199

2,544,218
449,706
892,283(4,169)3,882,038

81,715
7,363(81,584)
(655)
6,839

9,853,898
6,383,845
16,237,743

13,194,543
4,112,416
17,306,959

3,340,645(2,271,429)
1,069,216

14,962,690
17,466
14,980,156

14,355,712
30,077
14,385,789(606,978)12,611(594,367)

338,984
485,891
150,760
408,034
908,134
2,291,803
40,343,947

349,365
460,661
138,447
436,220
748,091
2,132,784
40,969,439

10,381(25,230)(12,313)
28,186(160,043)(159,019)
625,492

Increase/(Decrease)

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 investments:
Trading assets*
Private equity investments*
Total trading assets and private equity investments
Other assets:
Office buildings, land, equipment and facilities(net of accumulated depreciation and amortization of¥397,834 million as of March 31, 2018 and¥416,052 million as of March 31, 2019)
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–Millions of yen
March 31,
2019

Increase/(Decrease)743,497

841,758

98,261

1,176,773
1,239,540
1,151,342
3,567,655

1,229,083
1,146,336
1,392,619
3,768,038

52,310(93,204)
241,277
200,383

14,759,010
1,524,363
413,621
16,696,994
8,202,936
950,534
7,382,507
37,544,123

15,036,503
1,229,595
418,305
16,684,403
8,219,811
858,867
7,915,769
38,288,646

277,493(294,768)
4,684(12,591)
16,875(91,667)
533,262744,523594,493675,280
1,696,890(59,356)
2,907,307

594,493687,761
1,486,825(29,050)
2,740,029—
12,481(210,065)
30,306(167,278)(157,987)(108,968)
2,749,320
2,631,061
50,50449,732
2,799,824
2,680,793
40,343,947 40,969,439

49,019(118,259)(772)(119,031)
625,492

March 31,2018

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- 6,000,000,000 shares
Authorized
Issued - 3,643,562,601 shares as of March 31, 2018 and
3,493,562,601 shares as of March 31, 2019
Outstanding - 3,392,937,486 shares as of March 31, 2018 and
3,310,800,799 shares as of March 31, 2019
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 250,625,115 shares as of March 31, 2018 and
182,761,802 shares as of March 31, 2019
Total NHI shareholders’ equity
Noncontrolling interests
Total equity
Total liabilities and equity–7–(2) Consolidated Statements of Income
Millions of yen
For the year ended
March 31,
March 31,2018(A)
2019(B)

Revenue:Commissions
Fees from investment banking
Asset management and portfolio service fees
Net gain on trading
Gain (loss) on private equity 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 attributable to noncontrolling interests
Net income (loss) attributable to NHI shareholders% Change(B-A)/(A)373,313
101,663245,616
442,885(869)
585,675
2,683
221,192
1,972,158
475,189
1,496,969

293,069
101,521245,519
342,964
1,007
776,964(6,983)81,057
1,835,118
718,348
1,116,770(21.5)(0.1)
0.0(22.6)—
32.7—(63.4)(6.9)
51.2(25.4)

530,641
99,868
184,781
67,89536,762
248,864
1,168,811
328,158
103,866
224,292
4,949
219,343

497,065
82,637
166,865
64,94036,915306,049
1,154,471(37,701)
57,010(94,711)
5,731(100,442)(6.3)(17.3)
(9.7)
(4.4)
0.4
23.0
(1.2)
—
(45.1)—
15.8—

Per share of common stock:Yen% Change

BasicNet income (loss) attributable to NHI shareholders per share

63.13(29.90)—

DilutedNet income (loss) attributable to NHI shareholders per share

61.88(29.92)—–8–

(3) Consolidated Statements of Comprehensive Income
Millions of yen
For the year ended
March 31,
March 31,2018(A)
2019(B)Net income (loss)
Other comprehensive income (loss):
Change in cumulative translation adjustments:
Change in cumulative translation adjustments
Deferred income taxes
Total
Defined benefit pension plans:
Pension liability adjustments
Deferred income taxes
Total
Non-trading securities:
Net unrealized gain (loss) on non-trading securities
Deferred income taxes
Total
Own credit adjustments:
Own credit adjustments
Deferred income taxes
Total
Total other comprehensive income (loss)
Comprehensive income (loss)
Less: Comprehensive income (loss) attributable to noncontrolling interests
Comprehensive income (loss) attributable to NHI shareholders–9–% Change(B-A)/(A)224,292(94,711)—(77,067)
14,263(62,804)

36,031(1,852)
34,179———(10,124)
3,307(6,817)(23,431)161(23,270)—(95.1)—(38,717)
12,216(26,501)————(100.0)—(2,867)383(2,484)(98,606)
125,686(649)
126,335

25,135(4,988)20,14731,056(63,655)
6,481(70,136)

—
—
—
—
—
—
—

(4) Consolidated Statements of Changes in Equity
Millions of yen
For the year ended
March 31, 2018
March 31, 2019

Common stock
Balance at beginning of year
Balance at end of year

594,493594,493594,493594,493

Additional paid-in capital
Balance at beginning of year
Issuance and exercise of common stock options
Changes in ownership interests in subsidiaries
Balance at end of year

681,329(5,465)(584)
675,280

675,280
12,481—
687,761

1,663,234—
219,343(68,703)(5,043)(111,941)
1,696,890

1,696,890
1,564(100,442)(20,080)(1,191)(89,916)
1,486,825

47,767(63,363)(15,596)(15,596)
33,42917,833(41,020)(6,817)(47,837)(47,837)(23,270)(71,107)

Retained earnings
Balance at beginning of year
Cumulative effect of change in accounting principle (1)Net income (loss) attributable to NHI shareholders
Cash dividends
Gain (loss) on sales of treasury stock
Cancellation of treasury stock
Balance at end of year
Accumulated other comprehensive income (loss)
Cumulative translation adjustments
Balance at beginning of year
Net change during the year
Balance at end of year
Defined benefit pension plans
Balance at beginning of year
Pension liability adjustments
Balance at end of year
Non-trading securities
Balance at beginning of year
Net unrealized gain (loss) on non-trading securities
Balance at end of year
Own credit adjustments
Balance at beginning of year
Own credit adjustments
Balance at end of year
Balance at end of year

20,344(20,344)
—

—
—
—

6,561
(2,484)
4,077(59,356)

4,077
20,147
24,224(29,050)

Common stock held in treasury
Balance at beginning of year
Repurchases of common stock
Sales of common stock
Common stock issued to employees
Cancellation of common stock
Other net change in treasury stock
Balance at end of year

(182,792)(109,096)
0
21,398111,941
562(157,987)(157,987)(51,714)0
10,817
89,916—(108,968)

Total NHI shareholders’ equity
Balance at end of year

2,749,320

2,631,061

53,875(3,371)50,50450,504(772)
49,732

2,799,824

2,680,793

Noncontrolling interests
Balance at beginning of year
Net change during the year
Balance at end of year
Total equity
Balance at end of year

(1) In relation to Cumulative effect of change in accounting principle, please refer to section “ (7) Changes in Accounting Policies.”– 10 –

(5) Consolidated Statements of Cash Flows
Millions of yen
For the year ended
March 31, 2018
March 31, 2019

Cash flows from operating activities:
Net income (loss)
Adjustments to reconcile net income (loss) to Net cash used in operating activities :Depreciation and amortization
Provision for credit losses
Impairment of goodwill(Gain) loss on investments in equity securities(Gain) loss on investments in subsidiaries and affiliates
Loss on disposal of office buildings, land, equipment and facilities
Changes in operating assets and liabilities:
Deposits with stock exchanges and other segregated cash (2)Trading assets and private equity investments (1)Trading liabilities (1)Securities purchased under agreements to resell, net of securities sold under agreements to repurchase
Securities borrowed, net of securities loaned
Margin loans and receivables
Payables (1)Bonus accrual
Other, net
Net cash used in operating activities (2)Cash flows from investing activities:
Payments for placements of time deposits
Proceeds from redemption or maturity of time deposits
Payments for purchases of office buildings, land, equipment and facilities
Proceeds from sales of office buildings, land, equipment and facilities
Payments for purchases of equity investments
Proceeds from sales of equity investments
Net cash outflows from loans receivable at banks
Payments for purchases or origination of other non-trading loans
Proceeds from sales or repayments of other non-trading loans
Net cash outflows from interbank money market loans
Payments for purchases of non-trading debt securities
Proceeds from sales or maturity of non-trading debt securities
Divestures, net of cash disposed of
Payments for purchases of investments in affiliated companies
Proceeds from sales of investments in affiliated companies
Other, net
Net cash used in investing activities
Cash flows from financing activities:
Proceeds from issuances of long-term borrowings
Payments for repurchases or maturity of long-term borrowings
Proceeds from issuances of short-term borrowings
Payments for repurchases or maturity of short-term borrowings
Net cash outflows from interbank money market borrowings
Net cash inflows (outflows) from other secured borrowings
Net cash inflows (outflows) from deposits received at banks
Proceeds from sales of common stock
Payments for repurchases of common stock
Payments for cash dividends
Contributions from noncontrolling interests
Distributions to noncontrolling interests
Net cash provided by financing activities
Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents (2)Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents (2)Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of the year (2)Cash, cash equivalents, restricted cash and restricted cash equivalents at end of the year (2)224,292(94,711)71,57949—(2,683)(66,982)
3,747

57,924
1,157
81,372
6,983
5,719
2,455

(72,069)(219,400)
227,302(453,239)
763,297(920,738)
209,460(2,957)(102,963)(341,305)

13,752
923,595(143,141)(3,274,866)
1,987,331
474,391(63,683)(46,602)6,314(62,010)(287,509)
178,671(285,161)
224,220(8,185)
13,727(107,214)(743,333)
618,784(292)(186,557)
268,613(13,125)(1,000)44,849(13,229)(296,741)(214,787)
232,600(319,090)
262,908(5,466)
3,725(72,441)(1,012,570)
693,115(278)(140,936)
170,388—(13,093)
4,803(9,342)(420,464)

2,425,471(1,958,093)
965,095(695,484)(53,898)(1,188)(8,445)764(109,096)(70,199)
23,522(9,097)509,352(53,504)(182,198)
2,537,066
2,354,868

2,170,646(1,701,634)
1,501,738(1,427,749)(6,982)78,150254,260
313(51,714)(47,475)
24,416(23,972)
769,997
44,741
332,264
2,354,868
2,687,132

(1) Due to changes in accounting policy which Nomura adopted on April 1, 2018, certain reclassifications of amounts previously reported amounts havebeen made to conform to the current year presentation. See (7) Changes in Accounting Policies for further details.
(2) In accordance with Accounting Standards Update 2016-18 “Restricted Cash” which Nomura adopted on April 1, 2018, certain reclassification ofamounts previously reported as cash, cash equivalents, restricted cash and restricted cash equivalents for the year ended March 31, 2018 have been madeto conform to the current year presentation.
– 11 –

(6) Note with respect to the Assumption as a Going Concern
Not applicable.
(7) Changes in Accounting Policies
Revenue recognition
On April 1, 2018, Nomura adopted Accounting Standards Update 2014-09 “Revenue from Contracts with Customers” and replaced existing
revenue recognition guidance with a new prescriptive model. As a result of this adoption based on the modified retrospective application, the beginningbalance of Retained earnings has been adjusted.
Changes of offsetting of derivatives
Nomura collects and remits cash margin between its clients and central clearing houses in its execution and clearing services of exchange-tradedderivative transactions. Cash margin collected from clients and remitted to central clearing houses was reflected on Nomura’s consolidated balance
sheets. However, with effect from April 1, 2018, revisiting nature of the transactions, Nomura has revised its accounting policy for when such balances
are recognized on Nomura’s consolidated group balance sheet and as a result, certain cash margin amounts held on behalf of clients as well as anequivalent amount reflecting the obligation to return such amounts to clients are no longer recognized on the balance sheet if certain criteria are met.
Nomura has restated previously reported amounts of Receivables from other than customers decreased by 237.0 billion yen and Payables to other thancustomers decreased by 237.0 billion yen, respectively, to conform to the current presentation.
Daily variation margin for certain derivative transactions traded in Japan was reflected on Nomura’s consolidated balance sheets. However, from
April 1, 2018, Nomura changed its accounting policy as a result of amendment of the rules of a specific central clearing house and daily variation
margin is now off-balanced. Nomura has restated previously report amounts of Trading assets decreased by 4.9 billion yen, Receivables from other thancustomers decreased by 5.5 billion yen and Trading liabilities decreased by 10.4 billion yen respectively to conform to the current presentation.
Restricted CashOn April 1, 2018, Nomura adopted Accounting Standards Update 2016-18 “Restricted Cash” As a result, restricted cash and restricted cash
equivalents are now presented together with cash and cash equivalents in the consolidated statements of cash flows. Certain previously reported amounts
in the statements of cash flows are reclassified in conformity with this change.
– 12 –

(8) Notes to the Consolidated Financial Statements
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 year ended
March 31,
March 31,2018 (A)2019 (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

412,908
127,337
715,333
1,255,578
239,493
1,495,071

339,480
97,845555,388992,713131,261
1,123,974(17.8)(23.2)(22.4)(20.9)(45.2)(24.8)

1,898
1,496,969(7,204)
1,116,770—(25.4)

309,771
61,167614,745985,683
183,128
1,168,811

289,990
63,660666,787
1,020,437
134,034
1,154,471

(6.4)
4.1
8.5
3.5
(26.8)(1.2)—
1,168,811—
1,154,471—(1.2)

103,137
66,170100,588269,895
56,365326,260

49,49034,185(111,399)(27,724)(2,773)(30,497)(52.0)(48.3)
—
—
—
—

1,898
328,158(7,204)(37,701)——

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 year ended
March 31,
March 31,2018 (A)2019 (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
– 13 –(6,461)
785
34,248(41,884)
69,67756,3651,800
221
32,532(35,996)(1,330)(2,773)% Change(B-A)/(A)—(71.8)(5.0)———

Per share data
Shareholders’ equity per share is calculated based on the following number of shares.
Number of shares outstanding as of March 31, 2019

3,310,800,799

Net income attributable to NHI shareholders per share calculated based on the following number of shares.
Average number of shares outstanding for the year ended March 31, 2019

3,359,564,840

Significant Subsequent Events
Not applicable.
– 14 –

(9) Other Financial Information
Consolidated Statements of Income – Quarterly Comparatives

Revenue:Commissions
Fees from investment banking
Asset management and portfolio
service fees
Net gain on trading
Gain (loss) on private equity
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 andcommunications
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 tononcontrolling interests
Net income (loss) attributable to NHI
shareholders

Millions of yen
For the three months ended
December 31, March 31,
June 30,
September 30,
2017
2018
2018
2018

June 30,2017

September 30,
2017

90,96822,70785,32427,083

101,655
29,28995,366
22,58479,45623,95958,343
120,467

61,212
88,391

63,76787,72562,294
146,302359
134,392(330)
141,612(2,381)
161,445

1,483
148,22662
40,628467,926
107,103360,823

3,060
56,037462,389
110,896351,493

136,249
23,775% Change
December 31,
2018(A)

March 31,2019(B)(B-A)/(A)74,783
19,11972,71533,12966,11525,314(9.1)(23.6)

62,981
71,88762,74075,75260,591
96,94759,207
98,378

(2.3)
1.5

553
169,590321
188,703461
214,542(328)
204,129

—
(4.9)

4,532
84,597
530,629
124,013406,616(4,971)
2,092
39,93020,467511,214 430,985
133,177 158,988
378,037 271,997(1,104)28,067448,381
165,459
282,922(9,852)(11,133)
457,400
196,803
260,597

1,881
43,656498,352
197,098
301,254

—
—
9.0
0.1
15.6

122,035
25,242

131,372
25,252140,985
25,599127,700
20,935

125,800
19,579118,928
23,821

124,637
18,302

4.8(23.2)

44,56917,056
8,409
53,322
283,380
77,443
19,40558,03847,263
17,2097,823
48,882
268,454
83,03929,42353,61649,04916,805
9,801
53,584
285,863
120,753
30,96089,79343,90016,825
10,72993,076331,11446,92324,07822,84540,961
16,376
8,896
43,486258,354
13,643
6,930
6,713

40,515
16,464
9,337
70,760282,455
467
9,703(9,236)

41,75615,852
9,121
127,283
336,761(76,164)
19,698(95,862)

43,633
16,248
9,561
64,520276,901
24,353
20,679
3,674

4.5
2.5
4.8
(49.3)(17.8)
—
5.0
—

1,182

1,766

1,831

170

1,490

1,997

(586)

2,830

—

56,85651,85087,962

22,675

5,223(11,233)(95,276)

844

—

Yen

% Change

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

16.07

14.70

25.55

6.68

1.54

(3.31)(28.52)0.25—

DilutedNet income (loss) attributable to NHI
shareholders per share

15.77

14.45

25.12

6.56

1.50

(3.32)(28.52)

0.23—– 15 –

Business Segment Information – Quarterly Comparatives
The following table shows quarterly business segment information and reconciliation items to the consolidated statements of income.
Millions of yen
For the three months ended
December 31, March 31,
June 30,
September 30,
2017
2018
2018
2018

June 30,2017

September 30,
2017

101,684
28,097
179,316
309,097
51,707360,804

101,786
35,418
158,963
296,167
52,610348,777

111,284
36,503
165,648
313,435
89,023
402,458

98,15427,319211,406
336,879
46,153383,032

92,83326,089137,290
256,212
13,738269,95019
360,823

2,716
351,493

4,158
406,616

76,792
14,527
153,963245,282
38,098283,380

76,23914,950141,980
233,169
35,285
268,454—283,380

24,892
13,57025,35363,815
13,609% Change
December 31,
2018(A)

March 31,2019(B)(B-A)/(A)85,71024,681
147,660
258,051
25,982
284,033

86,782
16,178128,198
231,158
39,397
270,555

74,15530,897142,240
247,292
52,144299,436(14.6)
91.0
11.0
7.0
32.4
10.7

(4,995)2,047
378,037 271,997(1,111)
282,922(9,958)260,597

1,818
301,254—
15.6

79,997
15,671
151,602247,270
38,593285,863

76,74316,019167,200
259,962
71,152
331,11472,90915,806
144,714233,429
24,925258,354

73,494
15,768142,745
232,00750,448282,455

72,733
15,617224,073
312,423
24,338336,761

70,854
16,469155,255
242,578
34,323276,901(2.6)
5.5(30.7)(22.4)
41.0(17.8)—
268,454—285,863—
331,114—258,354—
282,455—
336,761—
276,901—(17.8)

25,547
20,46816,98362,99817,32531,287
20,832
14,046
66,16550,43021,411
11,30044,20676,917(24,999)

19,924
10,283(7,424)22,783(11,187)

12,216
8,913
4,915
26,044(24,466)

14,049561(95,875)(81,265)
15,0593,301
14,428(13,015)
4,714
17,821(76.5)———
18.3

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
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

77,42480,323

116,595

51,918

11,596

1,578(66,206)

22,535—19
77,443

2,716
83,0394,158
120,753(4,995)46,923

2,047
13,643(1,111)
467(9,958)(76,164)

1,818
24,353——* 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”.

Net gain (loss) related to economic
hedging transactions
Realized gain (loss) on investments inequity securities held for operating
purposes
Equity in earnings of affiliates
Corporate items
Other
Total

Millions of yen
For the three months ended
December 31, March 31, June 30, September 30,
2017
2018
2018
2018

June 30,2017

September 30,
2017

(654)

558

(8,019)1,654(13,807)

43

344

374

24

7,022
154
7,044

8,408
1,597
6,418

7,801
(3,386)
53,66013,60917,32550,430– 16 –% Change
December 31,
2018(A)

March 31,2019(B)(B-A)/(A)(16,018)

25,071

6,554(73.9)

45

7

106

63

(40.6)

11,017(40,249)
2,555

6,619
(2,482)(1,562)

8,536(23,719)
6,728

1,444
631
(12,193)

15,933(10,426)
5,697

—
—
—

(24,999)(11,187)(24,466)

15,05917,821

18.3

4.

Other Information
Financial information for Nomura Securities Co., Ltd. can be found on the following URL.
https://www.nomuraholdings.com/company/group/nsc/pdf/2019_4q.pdf– 17 –