Nomura Asset Management Co., Ltd.
Financial Summary (Unconsolidated)
For The Year Ended March 31, 2022
(Unaudited)Nomura Asset Management Co., Ltd.
Unconsolidated Balance Sheet Information (Unaudited)(Millions of Yen)
March 31, 2021

March 31, 2022

Increase (Decrease)

100,496

101,417920

Cash and cash equivalents

4,281

2,006

(2,275)

Money held in trust

35,91235,894(18)

Securities

30,40029,300(1,100)Accrued investment trust management fees

24,49927,176

2,677

Accrued investment advisory fees

4,347

4,002(345)-1,835

1,835

Other current assets

1,069

1,217

147

Allowance for doubtful accounts

(14)

(15)

(1)

Fixed assets

24,58323,023(1,560)

Tangible fixed assets

2,666

1,744

(921)

Intangible fixed assets

5,429

5,210

(218)

Investments and other

16,487

16,067(419)

Investment securities

1,767

2,201

433

Investment in subsidiaries and affiliates

9,942

9,214(727)

330

443

112

Prepaid pension cost

1,301

1,297

(3)

Deferred tax assets

3,008

2,784

(223)

Other investments

137

126

(11)

125,080

124,440(640)

AssetsCurrent assets

Short-term loans

Long-term guarantee deposits

Total assets1

(Millions of Yen)
March 31, 2021

March 31, 2022

Increase (Decrease)32,17533,127952

Investment trust distribution of income
payable000

Investment trust redemptions payable

8179

Accrued commission payable

7,256

8,357

1,100

Accounts payable to subsidiaries andaffiliates

8,671

8,149(521)

Other accounts payable

1,011

1,089

78

Accrued expenses

9,171

9,512

341

Accrued income taxes

2,113

1,319(794)

Accrued bonuses

3,795

4,416

620

146

263

117

5,250

4,905(345)

3,2993,194(105)

580

588

8

1,371

1,123(247)

Total liabilities

37,42538,033607

Shareholder's equity

87,59686,232(1,364)

Common stock

17,18017,180-Capital reserve

13,72913,729-Additional paid-in capital

11,72911,729-Other capital surplus

2,000

2,000

-

56,68655,322(1,364)

Earned surplus reserve

685

685

-

Other Earned surplus

56,001

54,637(1,364)General reserve

24,606

24,606-

Earned surplus brought forward

31,39530,030(1,364)

57

174

116

57

174

116

Total net assets

87,654

86,407(1,247)

Total liabilities and net assets

125,080

124,440(640)

Liabilities
Current liabilities

Other current liabilities

Long-term liabilities
Reserve for retirement benefits
Reserve for loss on distribution of income
and redemption after expiration
Asset retirement obligations

Earned surplus

Valuation and translation adjustments
Net unrealized gain on investments

2

Nomura Asset Management Co., Ltd.
Unconsolidated Income Statement Information (Unaudited)(Millions of Yen)
Year Ended
March 31, 2021
(A)

Operating revenue

Year Ended
March 31, 2022
(B)

Comparison(B)/(A) (%)

123,367

133,935

108.6

Investment trust management fees

106,355

115,733

108.8

Investment advisory fees

16,583

17,671

106.6

Other operating revenue

428

530

123.9

Operating expenses

65,76071,021

108.0

Commissions

34,73939,087

112.5

Research

24,506

26,650108.7

Other operating expenses

6,514

5,282

81.1

General and administrative expenses

28,06329,556

105.3

Operating income

29,54233,357112.9

Non-operating income

6,687

4,809

71.9

Non-operating expenses

72

1,689

2,334.6

Ordinary income

36,15736,477

100.9

Special profits

2,197

230

10.5

Special losses

1,129

1,158

102.5

Income before income taxes

37,22535,54995.5

Income taxes - current

11,23910,474

93.2

Income taxes - deferred(290)171(58.9)Net income

26,276

24,90494.8

3

For The Year Ended March 31, 2021
(Millions of Yen)

Shareholder's equity
Capital reserve

Earned surplus
Other Earned surplus

Commonstock

Additional
paid-in
capitalOthercapitalsurplusTotal
capitalreserve

Earnedsurplusreserve

17,18011,7292,000

13,729685

Total
Shareholder's equity

Generalreserve

Earnedsurplus
broughtforward

Total
Earnedsurplus24,60629,06954,36085,270

Dividends of surplus(23,950)(23,950)(23,950)

Net income

26,27626,27626,276

Balance at beginning of year

Other-net
Change in the term
Balance at end of year------

2,326

2,326

2,326

17,18011,7292,000

13,729685

24,606

31,39556,68687,596(Millions of Yen)

Valuation and translation adjustments
Net unrealized gain on
investments
Balance at beginning of year

10

Total Valuation andtranslation
adjustments

Total net assets

1085,281

Dividends of surplus(23,950)

Net income

26,276

Other-net

464646

Change in the term

46

46

2,372

Balance at end of year

57

57

87,6544

For The Year Ended March 31, 2022
(Millions of Yen)

Shareholder's equity
Capital reserve

Earned surplus
Other Earned surplus

Commonstock

Additional
paid-in
capitalOther
capitalsurplusTotal
capitalreserve

Earnedsurplusreserve

17,18011,7292,000

13,729685

Total
Shareholder's equity

Generalreserve

Earnedsurplusbrought
forwardTotal
Earnedsurplus24,606

31,39556,68687,596

Dividends of surplus(26,268)(26,268)(26,268)

Net income

24,90424,904

24,904

Balance at beginning of year

Other-net
Change in the term
Balance at end of year------(1,364)(1,364)(1,364)

17,18011,7292,000

13,729685

24,60630,03055,322

86,232(Millions of Yen)

Valuation and translation adjustments
Net unrealized gain oninvestments
Balance at beginning of year

57

Total Valuation andtranslation
adjustments

Total net assets

57

87,654

Dividends of surplus(26,268)

Net income

24,904

Other-net

116

116

116

Change in the term

116

116

(1,247)

Balance at end of year

174

174

86,4075Significant Accounting Policies
1.

Basis and Method of Valuation for Securities
Securities held are accounted for as follows:(1) Stocks of subsidiaries and affiliates Recorded at cost using the moving average method(2) Other Securities:(i) with market value
Recorded at market value
The difference between the cost using the moving averagemethod and market value less deferred tax is recorded as “Netunrealized gain on investments” in “net assets” on the balance
sheet.
(ii) without market value
Recorded at cost using the moving average method

2.

Basis and Method of Valuation for Money held in trust
Recorded at fair value

3.

Basis and Method of Valuation for Derivatives
Recorded at fair value

4.

Translation of foreign currency assets and liabilities
Assets and Liabilities of the company are translated into Japanese yen at the exchange rate prevailingat the balance sheet dates.

5.

Depreciation/Amortization Method of Fixed Assets(1) Depreciation of tangible fixed assets
Tangible fixed assets are depreciated by the declining-balance method, except for buildings(excluding facilities attached to buildings) acquired on or after April 1, 1998 and both facilities
attached to buildings and structures acquired on or after April 1, 2016, which are depreciated by thestraight-line method.
(2) Amortization of intangible assets
Intangible assets are amortized primarily over their estimated useful lives on the straight-linemethod.

6.

Provisions(1) Allowance for doubtful accounts
To provide mainly for loan losses, the company made provisions for doubtful accounts based onan estimate of the maximum uncollectible amount calculated using its historical loss ratio or areasonable estimate based on financial condition of individual borrowers.
(2) Accrued bonuses
To provide for bonus payments, accrual is recorded at the estimated amount to be paid as futurebonuses to employees.
(3) Reserve for retirement benefits
Allowance for retirement benefits is provided for future payments of retirement benefits toemployees at an estimated amount based on the retirement benefit obligation and the fair value ofthe pension plan assets.
The benefit formula method is used for attributing the estimated future payments to the amountof allowance for retirement benefits in this fiscal year.
Any actuarial differences arising from the tax-qualified pension plan are amortized from thefollowing fiscal year when the differences arose by the straight-line method over a period within theaverage remaining years of service of the eligible employees, while those arising from the lumpsum payment plan are fully expensed in the following fiscal year when the differences arose. Prior
service costs arising from the lump-sum payment plan and tax-qualified pension plan are amortizedby the straight-line method over a period within the average remaining years of service of the eligible
employees from the fiscal year when they were incurred.

6(4) Reserve for loss on distribution of income and redemption after expiration
To provide for investment trust distribution of income and investment trust redemption money
recognized as revenue by prescription, the estimated amount of payments in the future is recorded,based on actual payments.
7.

Accounting for Consumption Taxes
National and local consumption taxes are accounted for based on the tax exclusion method.

8.

Consolidated Tax Return System
Consolidated tax return system is applied.

Changes in Accounting Policies
1. Application of Accounting Standard for Revenue Recognition etc.
The Company has applied “Accounting Standard for Revenue Recognition” (ASBJ Statement No.29,March 31, 2020) etc. from the beginning of the period for the year ended March 31, 2022 and has recognizedrevenue in an amount expected to be earned in exchange for goods or services at the time when controls ofthe promised goods or services are transferred to customers.
As for non-operating income from system-related service and as a gross amount, previously recognized
as a net amount after deducted system-related expenses.
As for the application of Accounting standards for Revenue recognition etc., in accordance withtransitional treatment stipulated in the proviso of Paragraph 84 of “Accounting Standard for revenuerecognition”, the cumulative effects by the retroactive application of the new accounting policy previous tothe beginning of the period for the year ended March 31, 2022 are adjusted to “Retained earnings” of thebeginning of the period for the year ended March 31, 2022.
The effect on financial statements during the reporting period is insignificant.
2. Application of Accounting Standard for Fair Value Measurement etc.
The Company has applied “Accounting Standard for Fair Value Measurement” (ASBJ Statement No.30,July 4, 2019) etc. from the beginning of the period for the year ended March 31, 2022.
As for the application of Accounting standards for Fair Value Measurement etc., in accordance withtransitional treatment stipulated in Item 19 of “Accounting Standards for Fair Value Measurement” andItem 44-2 of “Accounting Standard for Financial Instruments,” (ASBJ Statement No.10, July 4, 2019) theCompany has applied new accounting policies since the beginning of the period for the year ended March31, 2022. This has no effect on the financial statements.

7Supplementary Information
1.

Net Assets of Investment Trusts(Billions of yen)March 31, 2021

Increase (Decrease)

Unit Type4734(12)Open Type35,864

37,611

1,746

Stock Investment Trusts - Public

35,91237,646

1,733

Bond Investment Trusts

342

320(22)

Money Reserve Fund

6,189

5,973(216)000

Bond Investment Trusts - Public

6,532

6,293(238)

Stock Investment Trusts

2,556

2,493(63)Bond Investment Trusts

1,621

1,451(169)

Private Investment Trusts

4,178

3,945(233)

Total46,623

47,885

1,261

Others2.

March 31, 2022

Assets under Investment Management and Advisory Contracts(Billions of yen)March 31, 2021

March 31, 2022

Increase (Decrease)

Domestic - General

314

372

57

Domestic - Pension

8,398

9,071

673

Overseas

3,736

3,845

108

12,44913,288

839

Total

8

Quarterly Income Statement Information(Millions of yen)
1st quarter2nd quarter3rd quarter

4th quarter

For the year

From April 1, 2021

From July 1, 2021

From October 1, 2021

From January 1, 2022

From April 1, 2021

To June 30, 2021

To September 30, 2021

To December 31, 2021

To March 31, 2022

To March 31, 2022

32,071

33,47534,43833,949133,935

Investment trust management fees

27,88329,16530,02528,658

115,733

Investment advisory fees

4,084

4,194

4,293

5,099

17,671Other operating revenue

104

115

120

190

530

Operating expenses

16,917

17,673

18,496

17,93371,021

Commissions

9,366

9,899

10,174

9,648

39,087

Research

6,329

6,553

6,956

6,812

26,650

Other operating expenses

1,221

1,221

1,366

1,472

5,282

General and administrative expenses

7,345

7,244

7,204

7,76229,556

Operating income

7,808

8,557

8,737

8,253

33,357

Non-operating income

2,110

2,026

379

293

4,809

Non-operating expenses

23239

536

891

1,689

Ordinary income

9,896

10,344

8,580

7,655

36,477

Special profits

19

29

15

165

230

Special losses

-507

0650

1,158

Income before income taxes

9,916

9,866

8,595

7,170

35,549

Income taxes - current

1,558

3,036

3,082

2,797

10,474

Income taxes - deferred

1,568

(519)

(125)

(752)

171

Net income

6,789

7,349

5,639

5,125

24,904

Operating revenue

9