Nomura Japan Equity High Dividend 70,
Net Total Return US Dollar Hedged Index
The index indicates performance based on investing in the Net Total Return Index of the Nomura Japan Equity High Dividend 70 on aUS dollar basis while hedging currency risk. The amount hedged at the end of each month is calculated by the investment balance atthe end of each month using one-month forward USD/JPY transactions.

As ofof end-Aug
end-May 2015
As2024

Summary

USD-denominated index- The Nomura Japan Equity High Dividend 70 is an equal-weighted index comprising 70 JapaneseNo. of cons.
70
Reconfiguration Every December- Because the US dollar hedged index values are calculated in accordance with tax rates applied toBase period

December 29, 2000

(base value)(=10000)

Weighting

Equally weighted

Exchange-traded productBloomberg
Listed market
Currency
Listing date
Fund manager(ETN issuer)

stocks with high dividend yields. The Net Total Return Index reinvests dividends after tax.
nonresidents in Japan, it enables foreign investors to realize a high dividend strategy on Japaneseequities while hedging currency risk at low cost. The index is calculated as USD-denominated index.
- The USD/JPY rates used to calculate values for the US dollar hedged index are the WMR Closing

Spot Rates and the WMR Closing Forward Rates (the exchange rate of the Japanese yen against theUS dollar, mid-rate at 16:00 London time).

Index performance
110,000

2048 JP <Equity>
Tokyo Stock Exchange

Nomura Europe
Finance N.V.

90%

High Div.70 USD he dged(L eft)

90,000JPY
March 16, 2015

100%

Cumulative excess returns to ben chmark(Right)

100,000

80%

High Div.70 Net Retu rn(Be nch ma rk,Left)

80,00070%70,00060%

60,00050%

Contact

50,00040%

Nomura Fiduciary Research &Consulting Co., Ltd.

40,00030%

Index Services Department

30,00020%

20,00010%

10,0000%e-mail ：idx_mgr@nfrc.co.jp

0200012

200512

201012

201512202012-10%((above) Shows net total returns of the USD-denominated index for USD-hedged index and yen-denominatedindex for the High Dividend 70 Net Return, rebased so that end-Dec 2000 = 10,000. (below) Ref Note1)

Data for Nomura Japan Equity HighDividend 70, Net Total Return US Dollar
Hedged Index can be obtained via
following channels.
Websitehttp://qr.nomuraholdin
gs.com/en/nhdiv/index.html

Daily index values for the Nomura
Japan Equity High Dividend 70, Net
Total Return US Dollar Hedged Index
are published in the following media:
Bloomberg

NMRIUHHD <Index>

QUICK

SNJPHD#NRDH/NRIJ

LSEG.NHDIV70UNH

Websitehttp://qr.nomuraholdin
gs.com/en/nhdiv/index.html

1m

3m

FYTD

1-year2-year5-year200101～High Div.70 USD hedged

-4.1%

-1.2%

2.1%

28.1%

30.1%

19.6%

10.8%

High Div.70 Net Return

-4.4%

-2.5%

-0.2%

22.8%

25.1%

17.2%

9.4%

High Div.70 USD hedged－ High Div.70 Net Return

0.3%

1.4%

2.3%

5.2%

5.0%

2.4%

1.4%

---

11.98

10.77

3.15

1.89

IR

Risk return
12%

Average return(p.a.)Nomura Japan Equity High Dividend 70,
Net Total Return US Dollar Hedged Index
Data publication services

High Div.70
USD hedged

11%

10%

High Div. 70
Net Return

9%
16.1%

16.2%

16.3%

16.4%
16.5%
Standard deviation(p.a.)(USD-denominated index for the USD-hedged index and yen-denominated index for the High Dividend
70 Net Return, monthly net total returns are annualized. January 2001-, Ref. Note2)

High Div.70 USD hedged

High Div.70 Net Return

Average return10.84%

9.40%

Std. deviation

16.31%

16.21%

Return/Std. dev.

0.66

0.58

Nomura Japan Equity High Dividend 70,
Net Total Return US Dollar Hedged Index
Asofof end-Aug
end-May 2015
As2024

Valuation(F1 based, Priority given to consolidated results supplemented by parent, Ref. Note3)

PER

PBR

D/Y (%)ROE (%)High Div. 70

10.890.93

3.81

8.76

R/N Total

15.66

1.36

2.36

8.94

R/N Large Value

12.07

0.93

3.05

7.91

(Note1)
1) The data less than a year shows the return in the period, and that of more than a year is annualized(net total returns of the USD-denominated index for USD-hedged index and yen-denominated index
for the High Dividend 70 Net Return).
2)Annualized return is calculated by multiplying the average monthly return by 12 during the data period.
3)Excess return is calculated by subtracting benchmark index return from the index return.
4)IR(Information Ratio) = (monthly excess return×12) ÷ (standard deviation of monthly excess return
multiplied by square root of 12)(Note2)
1)Average return is calculated by multiplying the average monthly return by 12 during the data period.
2)Standard deviation is obtained by multiplying specimen standard deviation of monthly return by squareroot of 12.
3)Return/Standard deviation = 1) ÷ 2)
(Note3)
PER(Price Earnings Ratio)＝aggregated market capitalization ÷ aggregated profit after tax
PBR(Price Book-value Ratio)＝aggregated market capitalization ÷ aggregated shareholders’ equity
D/Y(Dividend Yield)＝aggregated dividend ÷ aggregated market capitalization
ROE(Return On Equity)＝aggregated profit after tax÷((shareholders’ equity＋shareholders’ equity of the previous FY)÷2)

Reports

Nomura Japan Equity High Dividend 70 rulebook

The intellectual property rights and any other rights, in Nomura Japan Equity High Dividend 70 belong to Nomura Fiduciary Research & Consulting Co., Ltd.
(“NFRC”). NFRC do not guarantee accuracy, completeness, reliability, usefulness, marketability, merchantability or fitness of the Index, and do not account forbusiness activities or services that any index user and/or its affiliates undertakes with the use of the Index.
The intellectual property rights and any other rights, in Russell/Nomura Japan Equity Index belong to NFRC and Frank Russell Company ("Russell"). NFRC andRussell do not guarantee accuracy, completeness, reliability, usefulness, marketability, merchantability or fitness of the Index, and do not account for businessactivities or services that any index user and/or its affiliates undertakes with the use of the Index.
Publication of the index could be delayed or canceled if a computer malfunction, natural disaster, or other unavoidable event affects the index calculation
process.
Please read “About The Index License” before using the indexes, regardless of the channel through which indexes/data is acquired (NFRC website, services
via information vendors, etc).
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The WMR FX Benchmarks (WMR Spot Rates) are provided by London Stock Exchange Group (LSEG). LSEG shall not be liable for any errors in or delays inproviding or making available the data contained within this service or for any actions taken in reliance on the same.
■ This material has been prepared by NFRC for information purposes only.
■ All opinions and/or predictions contained in this material are based on the determination of NFRC at the time this material was prepared and are subject tochange without notice. We do not provide any guarantee or assurance that opinions contained in this material relating to future predictions will actually takeplace. Some part of the content of this material is based on various information available to NFRC which NFRC determined to be reliable. However, NFRC does
not guarantee the accuracy of such information, and there is a possibility that such information was summarized and imperfect. The past investment
performance is not indicative of the future results.
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