Under the Group Policy, with an awareness that all of us are diverse in various characteristics, such as

race, ethnicity, nationality, age, gender, sexual orientation, gender identity, disability, religion, creed,social status, lifestyle, and life stage, and that any one of us may belong to a minority in certain

characteristics at the same time as belonging to the majority in other characteristics, the Group shallresolve the issues that arise from these characteristics and create substantially equitable opportunities
that focus on the individual diﬀerences of each employee. To meet the diversiﬁed needs of society
through its business activities, the Nomura Real Estate Group shall work on the promotion of inclusive

design in which people with various characteristics inside and outside the Group participate inproduct/service development processes and contribute their diverse perspectives, thereby creating yet

unseen value.

To realize a “society where people support and connect with one another and where no one will be left

behind” and an “innovative society where all people with various backgrounds and values can build on
their strengths,” which we uphold in our Sustainability Policy, we formulated the Nomura Real EstateGroup Diversity and Inclusion Policy, which outlines our principles in promoting diversity and inclusion.
【Society and Employees】Diversity and Inclusion ............ ��58

Society and Employees
Group Policy
As a corporate group that connects people, towns, and communities to the future, we will realize lifestyles forwhich diverse backgrounds and values are respected and will respect people’s dignity and basic human rights
throughout our business activities to strengthen our foundational sustainability and pursue co-creation
initiatives that transcend organizations and business models.

Targets
Society and employees

Diversity and inclusion

Human rights

Strengthening the foundation for promoting sustainability for “co-creation”
that transcends organizations and business categories
Create an organization that enables diverse workers, including women andforeign nationals, with various backgrounds and values to makemeaningful contributions
Solidify a corporate foundation of mutual respect for the dignity and basic
human rights of every employee and business partner

Key Performance Indicators (KPIs)●Female manager and junior manager ratio: 20%●Childcare leave utilization rate by men and women: 100%
●Procurement guideline survey implementation rate: 80%●Creation of human rights due diligence system●Percentage of participation in human rights training: 100%
●Provision of products and services with inclusive design*●Percentage of implementation of one-on-one meetings: 100%

※ Design process involving people with diverse backgrounds, values, and challenges

Management
The Sustainability Committee, which consists of Nomura Real Estate Holdings and Group company directors andother members, is chaired by the Nomura Real Estate Holdings president and Group CEO. It deliberates anddecides policies and action plans focused on sustainability, including priority issues (materiality), and reports to
the Board of Directors. It also monitors progress with regard to its targets.
In addition, to strengthen the foundations for co-creation, the Human Rights Subcommittee, led by the officer in59charge of Group Diversity and Inclusion Management as supervisor, and the Human Resource, Wellness, D&I
Committee, chaired by the Nomura Real Estate Holdings president and Group CEO, have been established under
the Sustainability Committee.

Human Rights Subcommittee
Consists of members from the Group Human Resource Department, Group Human Resources Development
Department, Group Legal and Compliance Department, and Sustainability Management Department and meetsas needed. In fiscal 2022, the committee met five times, and it has continued to discuss major topics such as theformulation of a human rights policy and surveys for human rights due diligence.

Human Resource, Wellness, D&I Committee
Consists of Nomura Real Estate Holdings and Group company presidents and others, and meets twice a year
(previously called the Group Wellness Promotion Meeting). The committee discusses mid-to long-term goals andmeasures related to promoting occupational health and safety, wellness, work style reforms, the empowermentof women, and utilization and active participation of the Group’s diverse human resources to maintain andimprove sound, comfortable workplace environments in which people can work with vigor and achieve wellness,and to enhance efforts for formulating human resource development policies and promoting internal
environment development to ensure diversity. The content of the discussions are periodically reported to theBoard of Directors.

Diversity and Inclusion

Human Rights

Approach and Policies
Management
Targets and Results
Initiatives

Approach and Policies
Management
Targets and Results
Initiatives

60Diversity and Inclusion
Approach and Policies
Group Policy (Social)
Under the Group Policy, with an awareness that all of us are diverse in various characteristics, such as
race, ethnicity, nationality, age, gender, sexual orientation, gender identity, disability, religion, creed,social status, lifestyle, and life stage, and that any one of us may belong to a minority in certain
characteristics at the same time as belonging to the majority in other characteristics, the Group shallresolve the issues that arise from these characteristics and create substantially equitable opportunities
that focus on the individual differences of each employee. To meet the diversified needs of society
through its business activities, the Nomura Real Estate Group shall work on the promotion of inclusive
design in which people with various characteristics inside and outside the Group participate inproduct/service development processes and contribute their diverse perspectives, thereby creating yet
unseen value.
To realize a “society where people support and connect with one another and where no one will be left
behind” and an “innovative society where all people with various backgrounds and values can build on
their strengths,” which we uphold in our Sustainability Policy, we formulated the Nomura Real EstateGroup Diversity and Inclusion Policy, which outlines our principles in promoting diversity and inclusion.
Nomura Real Estate Group Diversity and Inclusion Policy

Roadmap
Guided by the roadmap for promoting diversity and inclusion, we shall designate raising diversity andinclusion awareness, routinely incorporating diversity and inclusion into business activities, anddeveloping a culture of innovation as important themes for achieving our vision, and promote them withthe aim of swiftly accomplishing them through Steps I, II, and III. Particularly with regard to Step I, we
will implement concrete measures and designate the achievement of annual paid leave acquisition
targets and the utilization of childcare leave by both men and women at a rate of 100% as key goals. We
aim to link the achievement of these goals to the efficient development of the workplace environment
and a change in awareness at the managerial level.
Results of annual paid leave acquisition

61

62

Management
Management (Social)

Human Resource, Wellness, D&I Committee
Comprises Nomura Real Estate Holdings, Group company presidents, and others and meets twice a year
(formerly the Group Wellness Promotion Meeting). The committee discusses mid- to long-term goals andvarious measures related to promoting wellness, work style reforms, the empowerment of women, andthe utilization and active participation of the Group’s diverse human resources in order to maintain andimprove sound, comfortable workplace environments in which people can work with vigor and achievewellness.

Targets and Results
Targets, KPIs, and Results

Hire andutilizediversehuman

KPI Female
managerand juniormanagerresources

ratio*1
KPI Maleand female
employeechildcare

Promotediverse work
styles2030

Unit

FY2019FY2020

FY2021

FY2022

20

％

10.3

11.2

11.7

13.9

100

％

ー

ー

96.2

64.5

100

％

ー

ー

15.9

38.6

ー

ー

leave
utilization
ratio*2Maleemployeechildcareleaveutilization
ratio*2

KPI Provide inclusive
design products andQuantitative KPIs up to 2030 to be set in FY2023

services
63

KPI KPI 1on1 meetings
held

100

％

ー

ー

84

83

※1 Manager and junior manager ratio: Female manager and junior manager ÷ all managers and junior managers.
※2 Effective since fiscal 2022, disclosure calculation method for securities reports has been revised in accordance with the Ministryof Health, Labor and Welfare guidelines (requiring disclosure of childcare leave acquisition status).

Key performance indicators (KPIs) for priority issues (materiality) up to 2030

Other Results*1
Unit

FY2020

FY2021

FY2022

30.6

31.8

32.5

33.0

44.8

42.0

39.8

39.4

All employees

％
％
％

ー

ー

ー

61.4

Full-time
employees

％

ー

ー

ー

58.5

％

ー

ー

ー

89.7

114

140

303

311

2.02

2.05

2.33

2.31

Female employee ratio
Ratio of female new graduates hired*2

Gender pay gap*3

FY2019Part-time andfixed-term
employees
Number of foreign employees*4
Rate of employment of persons withdisabilities*5％

Childcare leave
takers*6

All employees

253

289

320

193

Male employees

10

28

35

71

Rate ofreinstatement afterchildcare leave

All employees

％

92.1

96.2

92.9

98.8

Male employees

％

ー

100

100

100

7

6

5

8

Nursing care leave takers

Percentage of midcareer employees
hired*7

Nomura Real
EstateDevelopment

％

60.3

29.3

49.1

60.9

Nomura Real
Estate Solutions

％

39.9

21.1

27.5

28.9

Nomura Real
Estate Partners

％

22.7

35.6

38.1

44.4

Nomura Real
Estate Life & Sports

％

44.1

43.9

45.7

37.5

※1 “Female employee ratio” and “Ratio of female new graduates hired” include overseas corporations, while “Gender pay gap,”“Childcare leave takers,” “Rate of reinstatement after childcare leave,” and “Nursing care leave takers” include domestic
corporations only. In addition, figures as of March 31, 2023 (partial period) are shown.
2 Figures indicate the number of employees hired during each fiscal year (employees who have joined the Company by April ofthe following calendar year).

※64

※3 The ratio of women’s wages to those of men. The Group applies an equal pay system for men and women and provides thesame treatment within the same rank. In addition, personnel evaluations are conducted based on common standards for both
men and women, and there are no differences between men and women in the personnel system.
4 “Number of foreign employees” does not include the number of foreign technical intern trainees employed.
5 Rates in Group companies subject to the Employment Rate System for Persons with Disabilities as of June 1 of the following
fiscal year.
6 Effective since fiscal 2022, the disclosure calculation method for securities reports has been revised in accordance with the
Ministry of Health, Labor and Welfare guidelines (requiring disclosure of childcare leave acquisition status).
7 Percentage of full-time mid-career hires among the number of full-time employees, as stipulated under the Act for theComprehensive Promotion of Labor Policies.

※
※
※
※

ESG Data (Social)

Initiatives
Initiatives for Empowering All Employees

Promoting One-on-One Meetings and Creating Psychological Safety
The Group believes that employee growth and wellness depends upon ensuring psychological safety for
employees as they go about their daily operations, and it has therefore been holding one-on-one
meetings Group-wide since October 2020. We distributed our own handbook to all employees andprovided all managers with guidance for conducting effective one-on-one meetings.
In addition, in August 2022 we conducted e-learning sessions on the one-on-one meetings for all Group
officers and employees. The Legal and Compliance Department organizes training for compliancepromoters, in which Group officers, general managers, and compliance promoters learn about
psychological safety and the role of leaders. Each year, we also conduct a questionnaire on theimplementation of the one-on-one meetings throughout the Group to confirm progress.

Trial Implementation of the Nomura Real Estate Group Sustainability, Wellness, Diversity andInclusion Survey (Your voice creates NEW VALUE, REAL VALUE)
The purpose of the survey is to share with management the good points and issues about the Company
and workplace that Nomura Real Estate Group employees notice in their daily work, and to make use ofthis feedback in creating better workplaces. Until now, the survey has been implemented separately byeach Group company, and we have been conducting a common Group-wide survey since August 2022.
We will visualize the indicators for employee satisfaction and willingness to make voluntary contributions
across the Group to further stimulate group synergies, including consideration of actions for addressing
common issues.

65Implementation of Unconscious Bias Training in the Group’s Newly Appointed Managerial
Employee Training
Every year, we conduct training on unconscious bias as part of the rank-specific training programs for
newly appointed managers of the Nomura Real Estate Group.

Action Plan for Empowering Women
Following the full enforcement of the Act on the Promotion of Female Participation and Career
Advancement in the Workplace (hereinafter Promotion of Women Act) on April 1, 2016, every Group
company has formulated an action plan and is pursuing related initiatives for promoting women.
We analyze issues related to recruitment, continued employment, and promotion, and take action toaddress these issues.

Female Manager Ratio and Female Manager and Junior Manager Ratio
The ratio of female managers and the ratio of female managers and junior managers are monitored by
the Human Resource, Wellness, D&I Committee, which meets twice a year with the objective of achieving
the target of 20% for female management positions by 2030. The rate was 13.9% as of the end of March
2023. In terms of recruitment, we hold events for female students in which female employees of Nomura
Real Estate speak on the theme of workstyles and careers. We are striving to raise the ratio of female
managers and ratio of female managers and junior managers to expand the opportunities for women toplay more active roles and to create an organization that incorporates diverse perspectives.

Health Seminar for Female Employees
The Group conducts an annual seminar for newly promoted managerial employees to develop a work
environment that takes into consideration health issues specific to women and promotes appropriate
management. In fiscal 2022, the seminar was held online with the participation of 160 people, and in
December of the same year, the same seminar was held for all executives of the Group and generalmanagers of Nomura Real Estate. In addition, the Group holds an annual health seminar for female
employees to help them gain knowledge about their health so they can appropriately deal with issues
that may arise. The seminar was attended by 266 people in fiscal 2022 and 172 in fiscal 2023.

66

Seminar for Female Employees

Seminar pamphlet

Support for Childcare and Nursing CareIn accordance with the Act on Advancement of Measures to Support Raising Next-Generation Children,which is intended to support the sound upbringing of children as the next generation leaders of society,
the Group has established various systems, including childcare leave, to help employees balance workwith childbirth, childcare, and nursing care.
Based on the above act, PRIME X Co., Ltd. has been certified as a childcare support company and has
obtained the “Kurumin” Next Generation Certification Mark. In addition, Nomura Real Estate Solutions
Co., Ltd., Nomura Real Estate Life & Sports Co., Ltd., and PRIME X have been certified as Eruboshi (2 stars)
based on the Act on the Promotion of Women's Active Engagement in Professional Life. The Group also
provides information on its programs through the intranet and other means to establish a workplaceenvironment that encourages the use of the programs. In fiscal 2022, 166 employees returned to work
after childcare leave, and the return-to-work ratio by gender was 100% for men and 98.1% for women.
Nomura Real Estate and other companies have established a dedicated website for employees taking
maternity leave, nursing care, or leave of absence and put into place a system to support their return to
work.
News Release (Thirteen Nomura Real Estate Group Companies Become Members of the IKUBOSS
Alliance)
News Release (100% Paid Childcare Leave after Birth (Postpartum Paternity Leave) at Eight Group
Companies)67

Main Programs that Support Childcare and Nursing Care
Programs

Details

Childcare leave

Regardless of gender, employees can take leave for childcare until their childturns three years old (also available to those with less than one year’s
service).

Reduced working hours forchildcare

Regardless of gender, employees can work a reduced number of hours until
their child is in the third grade of elementary school.

Nursing care leave

Employees can take a leave in installments of up to a total of three years tocare for a family member requiring nursing care.

Reduced working hours fornursing care

Employees can work reduced hours for up to three years to care for a family
member who requires nursing care.

Holiday childcare support*1

Assistance for covering childcare costs on weekends and holidays is available
for employees who need to work on weekends and holidays.

Paternity leave programsfor male employees*1

Male employees can use their annual paid leave to take a five-day leave of up
to six months after the birth of their child.

Underlined text: Programs designed beyond statutory requirements※1 Applicable to Nomura Real Estate Development and some other Group companies

Initiative to Reduce the Gender Wage Gap
The Company applies the same wage system to both male and female employees and treats themequally in the same grade. In addition, personnel evaluations are based on the same standards for both
men and women, and there are no differences between them in the personnel system. On the other
hand, the low ratio of female managers is the main reason for the gender pay gap. We will therefore
strive to increase the ratio of female managers to narrow the gender pay gap by increasing the ratio of
female hires and taking action to ensure the continued employment, promotion, and leadershipdevelopment of women.

68Empowerment of LGBTAs part of our initiatives for empowering LGBT, we held a panel
discussion in December 2020, entitled “LGBT in the Workplace,” forall Group executives and general managers of Nomura Real Estate
Development.
We also publish a bi-monthly LGBT column on the intranet to
educate employees.
We conducted an awareness survey of Nomura Real Estate Group
employees to monitor numerical data so we can understand theextent to whether LGBT feel they can work with vigor and bethemselves in the workplace, and we will continue to improve ourworkplace environment so they can be who they are and feel safe at
work.
In addition, Nomura Real Estate Holdings, Nomura Real Estate
Development, and Nomura Real Estate Asset Management wereawarded the Silver rating and Nomura Real Estate Solutions andNomura Real Estate Partners were awarded the Bronze rating in the
PRIDE Index 2022, which certifies companies and organizations fortheir efforts related to LGBT and other sexual minorities.

※ The PRIDE Index was established in 2016 by work with Pride, a voluntaryorganization that supports the promotion and establishment of LGBT-related
diversity management, as a system for recognizing the efforts of companies andorganizations related to LGBT and other sexual minorities.

Empowering People with Disabilities
The Group has bolstered its efforts to hire people with disabilities by providing opportunities to work at
an indoor farm facility. In fiscal 2021, Nomura Real Estate Solutions also started offering new jobs forpeople with disabilities at its satellite offices.

Working at an indoor farm facility

Working at an indoor farm facility69

In addition, Nomura Real Estate Life & Sports employs one athlete with disabilities and Nomura Real
Estate Partners employs two, and both companies support their athletes by providing them with
employment that allows them to balance their competitive and professional lives.
Supporting Sports for the Disabled

Empowering Senior Employees
To provide opportunities for senior employees to continue applying their wealth of experience and skills
as a driving force of business growth, the Group provides employment extensions based on thereemployment program for those who have reached retirement age and wish to continue working. It
ensures employment opportunities up to the age of 65 at the employee’s request. Moreover, some Group
companies have established employment programs in which employees can work even after the age of
65 at the employees’ request, supporting work styles that meet the needs of seniors.

Empowering Global Human Resources
When hiring, the Group ensures that no disadvantages are associated with personal background or
beliefs, including race, ethnicity, nationality, age, gender, sexual orientation, gender identity, disability,
religion, creed, social status, lifestyle, or life stage. We also accommodate employees’ religious practices
and conduct within a certain framework. In addition, we hire and support human resources who caneffectively engage at a global level regardless of race, ethnicity, nationality, or religion so that humanresources with diverse values can demonstrate their individual abilities to the fullest and spark newvalue. We are actively hiring local human resources especially in China, Hong Kong, Thailand, Singapore,
and Vietnam, where Group companies are located, to strengthen our overseas strategies so that we canquickly and accurately identify and reflect the different needs of each country and region in our business
operations.

Representative Major Efforts to Secure Global Human Resources
TargetMain approach・Hiring local human resources at overseas
subsidiaries

・Participating in recruitment events forinternational students

Hiring global human resources

・Holding job fairs and screenings forinternational students from overseas
universities

70

Human rights

Promoting Inclusive Design
The Group defines inclusive design as a way for generating new value by having people with diverse
backgrounds and values participate in creating products and services, thereby gaining new insights anddiscovering unique new value. In addition, as part of our efforts to promote and disseminate inclusive
design across the Group, we organize events through which employees can learn about and experience
inclusive design, with the support of external companies.

Experiencing inclusive design at the event

Experiencing inclusive design at the event71