Gender Pay
Gap Report2018Nomura recognises the value of an inclusive workforce
At Nomura we value the wide rangeof clients, people, investors and thesocieties in which we operate. We
wish to become an inclusive financial
services organisation by connecting
and enhancing the power of diverse
people and thought across all
aspects of our business.

Understanding the gender pay gap

Why do we have a gender pay gap?

It is important to share understanding of the difference
between the gender pay gap and equal pay as they arevery different concepts.

Our gender pay gap is the result of an underrepresentation of women in senior positions. In parts of
the organisation where women are better represented,
they tend to be in roles that receive lower pay.

Equal pay is about ensuring men and women are
paid the same for work of equal value. The equal pay
principle, set out in the Equality Act 2010, says that
men and women performing equal work must receive
equal pay, unless there is a material reason that justifies
a difference.
The gender pay gap is a measure of the difference
between the average earnings of men and the average
earnings of women across an organisation, as apercentage proportion of the average male earnings.

Nomura International plc

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There are also proportionally more men in ourworkforce in the top, upper middle and lower middle
pay quartiles, which contribute to our overall gender
pay gap results.
We are, however, confident that our people are paid
the same for the same type of work and we havepay parity. This is reinforced by our annual equal pay
exercise, reviewed by our CEO and Board, as part of
the annual pay for performance process.

Gender Pay Gap Report 2018Our gender pay gap data
Our workforce

Pay quartiles
The proportion of men and women by pay quartile:

70.5% men

49.6 %men

women 29.5%

Lower quartile

70.0 %men

Pay and bonus gap

38.4%

on a meanhourly basis

79.8 %men

48.7%

20.2 %women

Upper middle quartile

The figures show our overall median and mean gender pay gap based on hourly
rates of pay as at 5 April, 2018.

89.9 %men

10.1 %women

Top quartile

Our median and mean bonus gap is:

58.8% median

30.0 %women

Lower middle quartile

Our hourly gender pay gap is:on a medianhourly basis

50.4%women

The figures above reflect the percentage of men and women in four quartile pay
bands, by dividing our workforce into four equal parts.

mean 79.1%

These figures show the median and mean difference between bonuses paid to men
and women in the 12 months to 5 April, 2018.

Our methodology

The proportion of men and women receiving a bonus:

84.3% men

Nomura International plc

The gender pay figures shown and the associated analysis are in respect ofNomura International plc. The reportable figures have been calculated in line withthe approach and methodology set out under the gender pay reporting regulations
and reflect UK employees only. We have not included Nomura Asset Management,
Nomura Alternative Investment Management or Instinet as these companies haveless than 250 employees.

women 81.6%

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Gender Pay Gap Report 2018

Strengthening diversity and inclusivity
Our employee networks are designed to help build
relationships, share ideas, contribute to careerdevelopment and progression, and foster inclusion anddiversity from the ground up.
We also work with a number of external partners to makeour workplace as diverse and as open as possible.
Our partners are:

Nomura International plc

3Gender Pay Gap Report 2018

Nomura International plc
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