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FORM 6-K

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 July 2011

NOMURA HOLDINGS, INC.

(Translation of registrant’s name into English)

9-1, 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):

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Information furnished on this form:

EXHIBIT

 

Exhibit Number
1.		Financial Summary – Three months ended June 2011

Nomura Holdings, Inc. (“Nomura”) hereby incorporates Exhibit 1 to this report on Form 6-K by reference (i) in the prospectus that is part of Registration Statement on Form F-3 (Registration No. 333-169682) of Nomura and Nomura America Finance, LLC, filed with the Securities and Exchange Commission (the “SEC”) on September 30, 2010, and (ii) in the prospectus that is part of the Registration Statement on Form F-3 (Registration No. 333-165049) of Nomura, filed with the SEC on February 24, 2010, as amended by the Post-Effective Amendment No. 1 thereto, filed with the SEC on September 8, 2010.

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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 the undersigned, thereunto duly authorized.

 

		NOMURA HOLDINGS, INC.
Date: July 29, 2011		By:		/s/ Shinji Iwai
				Shinji Iwai
				Senior Managing Director

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Financial Summary For the Three Months Ended June 30, 2011 (U.S. GAAP)

 

Date:		July 29, 2011
Company name (code number):		Nomura Holdings, Inc. (8604)
Stock exchange listings:		(In Japan) Tokyo, Osaka, Nagoya
		(Overseas) New York, Singapore
Representative:		Kenichi Watanabe
		Group CEO, Nomura Holdings, Inc.
For inquiries:		Masahide Hoshino
		Managing Director, Investor Relations Department, Nomura Holdings, Inc.
		Tel: (Country Code 81) 3-5255-1000
		URL http://www.nomura.com

1. Consolidated Operating Results

(1) Operating Results

 

		(Rounded to nearest million)
		For the three months ended June 30
		2011								2010
		(Millions of yen, except per share data)
						% Change from June 30, 2010								% Change from June 30, 2009
Total revenue			427,010				36.0	%			314,016				(13.6	%)
Net revenue			330,365				27.1	%			259,824				(12.9	%)
Income before income taxes			34,358				431.0	%			6,470				(79.4	%)
Net income attributable to Nomura Holdings, Inc. (“NHI”) shareholders			17,771				665.3	%			2,322				(79.7	%)
Comprehensive income (loss)			13,127				—	%			(24,167	)			—	%
Basic-Net income attributable to NHI shareholders per share (Yen)			4.93								0.63
Diluted-Net income attributable to NHI shareholders per share (Yen)			4.90								0.63
Return on shareholders’ equity (annualized)			3.4	%							0.4	%

Note: Return on shareholders’ equity is a ratio of Net income attributable to NHI shareholders to Total NHI shareholders’ equity.

(2) Financial Position

 

		At June 30				At March 31
		2011				2011
		(Millions of yen, except per share data)
Total assets			39,713,079				36,692,990
Total equity			2,415,144				2,091,636
Total NHI shareholders’ equity			2,101,667				2,082,754
Total NHI shareholders’ equity as a percentage of total assets			5.3	%			5.7	%
Total NHI shareholders’ equity per share (Yen)			583.27				578.40

2. Cash dividends

 

		For the year ended March 31
		2011				2012				2012 (Plan)
		(Yen amounts)
Dividends per share
dividends record dates
At June 30			—				—				—
At September 30			4.00				—				Unconfirmed
At December 31			—				—				—
At March 31			4.00				—				Unconfirmed
For the year			8.00				—				Unconfirmed

Notes:

1.	Revision of cash dividend forecast during this period : None

2.	Nomura plans to forgo dividend distribution for Q3 of fiscal year 2012. Fiscal year 2012 Q2 and Q4 dividend amounts are not presented per reasons stated in “3. Earnings forecasts for the year ending March 31, 2012”.

3. Earnings forecasts for the year ending March 31, 2012

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 forecasts.

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4. Others    For details, please refer to page 5 “2. Others of Summary Information” of the accompanying materials.

(1) Changes in significant subsidiaries during the period: Yes

      (Changes  in Specified Subsidiaries accompanying changes in scope of consolidation.)

      Number  of consolidation      Inclusion      1    (Nomura Real Estate Holdings, Inc.)

(2) Adoption of the simplified and particular accounting treatments: None

(3) Changes in accounting policies

 

a)

Changes due to amendments to the accounting standards : None

b)

Changes due to other than a) : None

(4) Number of shares issued (common stock)

 

		At June 30				At March 31
		2011				2011
Number of shares outstanding (including treasury stock)			3,719,133,241				3,719,133,241
Number of treasury stock			115,886,949				118,246,309

 

		For the three months ended June 30
		2011				2010
Average number of shares outstanding (year-to-date)			3,602,382,737				3,671,473,025

* Quarterly review

The review process of the quarterly consolidated financial statements for this period has not been completed by the external auditors at the point of disclosing this financial summary. As a result of such review, certain of the information set forth herein could be subject to revision, possibly material, in the quarterly securities report for the period ended June 30, 2011, an English translation of which Nomura plans to furnish on Form 6-K in due course.

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Table of Contents for the Accompanying Materials

 

1.    Qualitative Information of the Quarterly Consolidated Results			P.2
(1)    Consolidated Operating Results			P.2
(2)    Consolidated Financial Position			P.5
(3)    Consolidated Earnings Forecasts			P.5
2.    Others of Summary Information			P.5
(1)    Changes in Significant Subsidiaries During the Period			P.5
(2)    Adoption of the Simplified and Particular Accounting Treatments			P.5
(3)    Changes in Accounting Policies			P.5
3.    Quarterly Consolidated Financial Statements			P.5
(1)    Consolidated Balance Sheets			P.6
(2)    Consolidated Statements of Operations			P.8
(3)    Consolidated Statements of Comprehensive Income			P.9
(4)    Note with respect to the Assumption as a Going Concern			P.9
(5)    Segment Information – Operating Segment			P.10
(6)    Significant Changes in Equity			P.11
4.    Supplementary Information			P.12
(1)    Consolidated Statements of Operations – Quarterly Comparatives			P.12
(2)    Business Segment Information – Quarterly Comparatives			P.13
(3)    Unconsolidated Quarterly Financial Statements [Japanese GAAP]			P.14
(4)    Other			P.14

 

1

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1.	Qualitative Information of the Quarterly Consolidated Results

 

(1)	Consolidated Operating Results

U.S. GAAP

 

		Billions of yen								% Change
		For the three months ended								(A-B)/(B)
		June 30, 2011 (A)				June 30, 2010 (B)
Net revenue			330.4				259.8				27.1
Non-interest expenses			296.0				253.4				16.8
Income (loss) before income taxes			34.4				6.5				431.0
Income tax expense			16.3				3.4				374.4
Net income (loss)			18.0				3.0				495.3
Less: Net income (loss) attributable to noncontrolling interests			0.3				0.7				(62.3	)
Net income (loss) attributable to NHI shareholders			17.8				2.3				665.3
Return on shareholders’ equity* (annualized)			3.4	%			0.4	%			—

 

*	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 (collectively, “Nomura”) reported net revenue of 330.4 billion yen for the three months ended June 30, 2011, an increase of 27.1% from the same period in the prior year. Non-interest expenses increased by 16.8% from the same period in the prior year to 296.0 billion yen, Income before income taxes was 34.4 billion yen and Net income attributable to NHI Shareholders was 17.8 billion yen for the three months ended June 30, 2011.

Segment Information

 

		Billions of yen								% Change
		For the three months ended								(A-B)/(B)
		June 30, 2011 (A)				June 30, 2010 (B)
Net revenue			331.6				270.4				22.6
Non-interest expenses			296.0				253.4				16.8
Income (loss) before income taxes			35.6				17.1				108.8

In business segment totals, which exclude unrealized gain (loss) on investments in equity securities held for operating purposes, net revenue for the three months ended June 30, 2011 was 331.6 billion yen, an increase of 22.6% from the same period in the prior year. Non-interest expenses increased by 16.8% from the same period in the prior year to 296.0 billion yen. Income before income taxes was 35.6 billion yen for the three months ended June 30, 2011. Please refer to page 10 for further details of the differences between U.S. GAAP and business segment amounts.

 

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<Business Segment Results>

Operating Results of Retail

 

		Billions of yen								% Change
		For the three months ended								(A-B)/(B)
		June 30, 2011 (A)				June 30, 2010 (B)
Net revenue			94.2				111.0				(15.1	)
Non-interest expenses			72.2				73.2				(1.4	)
Income (loss) before income taxes			22.0				37.7				(41.7	)

Net revenue decreased by 15.1% from the same period in the prior year to 94.2 billion yen, due primarily to decreasing commissions for distribution of investment trusts and brokerage commissions. Non-interest expenses decreased by 1.4% to 72.2 billion yen. As a result, income before income taxes decreased by 41.7% to 22.0 billion yen.

Operating Results of Asset Management

 

		Billions of yen								% Change
		For the three months ended								(A-B)/(B)
		June 30, 2011 (A)				June 30, 2010 (B)
Net revenue			18.8				15.8				19.5
Non-interest expenses			11.4				11.8				(3.2	)
Income (loss) before income taxes			7.4				4.0				86.3

 

Note:

Nomura Bank (Luxembourg) S.A. in Asset Management was integrated to Other business on April 2011. Certain  reclassifications of  previously reported amounts have been made to conform to the current presentation.

Net revenue increased by 19.5% from the same period in the prior year to 18.8 billion yen. Non-interest expenses decreased by 3.2% to 11.4 billion yen. As a result, income before income taxes increased by 86.3% to 7.4 billion yen. Assets under management were 25.3 trillion yen at the end of June 2011.

 

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Operating Results of Wholesale

 

		Billions of yen								% Change
		For the three months ended								(A-B)/(B)
		June 30, 2011 (A)				June 30, 2010 (B)
Net revenue			141.2				108.6				30.0
Non-interest expenses			156.1				149.8				4.2
Income (loss) before income taxes			(14.9	)			(41.1	)			—

Net revenue increased by 30.0% from the same period in the prior year to 141.2 billion yen, due primarily to increasing net gain on trading. Non-interest expenses increased by 4.2% to 156.1 billion yen. As a result, loss before income taxes was 14.9 billion yen.

Other Operating Results

 

		Billions of yen								% Change
		For the three months ended								(A-B)/(B)
		June 30, 2011 (A)				June 30, 2010 (B)
Net revenue			77.4				35.1				120.5
Non-interest expenses			56.3				18.6				202.7
Income (loss) before income taxes			21.0				16.5				27.7

Net revenue was 77.4 billion yen. Income before income taxes was 21.0 billion yen.

 

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(2)	Consolidated Financial Position

Total assets as of June 30, 2011, were 39.7 trillion yen, an increase of 3.0 trillion yen compared to March 31, 2011, reflecting primarily the increase in Trading assets. Total liabilities as of June 30, 2011 were 37.3 trillion yen, an increase of 2.7 trillion yen compared to March 31, 2011, mainly due to the increase in Securities sold under agreements to repurchase. Total equity as of June 30, 2011 was 2.4 trillion yen, an increase of 323.5 billion yen compared to March 31, 2011.

 

(3)	Consolidated Earnings Forecasts

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 dividend forecasts.

 

2.	Others of Summary Information

 

(1)	Changes in Significant Subsidiaries during the Period

In May 2011, Nomura increased its stake in Nomura Land and Building Co., Ltd. (“NLB”) by acquiring additional NLB shares and thereby made it a subsidiary. As a result, Nomura Real Estate Holdings, Inc., a subsidiary of NLB, became a Specified Subsidiary of Nomura. Due to this business combination with NLB, income before income taxes for the three months ended June 30, 2011 increased by 24.3 billion yen.

 

(2)	Adoption of the Simplified and Particular Accounting Treatments

Not applicable.

 

(3)	Changes in Accounting Policies

Not applicable.

Further, during the three months ended June 30, 2011, an insurance company became a subsidiary of Nomura (“insurance subsidiary”). Nomura measures the non-trading securities that are held by the insurance subsidiary at fair value, with changes in fair value recognized through other comprehensive income (loss) after tax effects are adjusted. These non-trading securities are included in Other assets – Non-trading debt securities and Other assets – Other in the quarterly consolidated balance sheets.

 

3.	Quarterly Consolidated Financial Statements

The quarterly consolidated financial information herein has been prepared in accordance with Nomura’s accounting policies which are disclosed in the notes to the consolidated financial statements of Nomura Holdings, Inc.’s Annual Securities Report (the annual report filed in Japan on June 30, 2011) and Form 20-F (the annual report filed with the U.S. Securities and Exchange Commission on June 30, 2011) for the year ended March 31, 2011.

The review process of the quarterly consolidated financial statements for this period has not been completed by the external auditors.

 

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(1)	Consolidated Balance Sheets (UNAUDITED)

 

		Millions of yen
		June 30, 2011				March 31, 2011				Increase/ (Decrease)
ASSETS
Cash and cash deposits:
Cash and cash equivalents			692,812				1,620,340				(927,528	)
Time deposits			466,491				339,419				127,072
Deposits with stock exchanges and other segregated cash			229,158				190,694				38,464
Cash and cash deposits, Total			1,388,461				2,150,453				(761,992	)
Loans and receivables:
Loans receivable			1,296,586				1,271,284				25,302
Receivables from customers			49,404				32,772				16,632
Receivables from other than customers			1,287,391				928,626				358,765
Allowance for doubtful accounts			(4,953	)			(4,860	)			(93	)
Loans and receivables, Total			2,628,428				2,227,822				400,606
Collateralized agreements:
Securities purchased under agreements to resell			9,347,210				9,558,617				(211,407	)
Securities borrowed			5,962,298				5,597,701				364,597
Collateralized agreements, Total			15,309,508				15,156,318				153,190
Trading assets and private equity investments:
Trading assets*			16,325,461				14,952,511				1,372,950
Private equity investments			280,056				289,420				(9,364	)
Trading assets and private equity investments, Total			16,605,517				15,241,931				1,363,586
Other assets:
Office buildings, land, equipment and facilities (net of accumulated depreciation and amortization of ¥336,928 million at June 30, 2011 and ¥300,075 million at March 31, 2011)			1,086,945				392,036				694,909
Non-trading debt securities*			853,630				591,797				261,833
Investments in equity securities*			83,778				91,035				(7,257	)
Investments in and advances to affiliated companies*			204,221				273,105				(68,884	)
Other			1,552,591				568,493				984,098
Other assets, Total			3,781,165				1,916,466				1,864,699
Total assets			39,713,079				36,692,990				3,020,089

 

*	Including securities pledged as collateral

 

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		Millions of yen
		June 30, 2011				March 31, 2011				Increase/ (Decrease)
LIABILITIES AND EQUITY
Short-term borrowings			1,090,401				1,167,077				(76,676	)
Payables and deposits:
Payables to customers			804,318				880,429				(76,111	)
Payables to other than customers			402,074				410,679				(8,605	)
Deposits received at banks			885,724				812,500				73,224
Payables and deposits, Total			2,092,116				2,103,608				(11,492	)
Collateralized financing:
Securities sold under agreements to repurchase			12,882,890				10,813,797				2,069,093
Securities loaned			1,895,381				1,710,191				185,190
Other secured borrowings			1,219,955				1,162,450				57,505
Collateralized financing, Total			15,998,226				13,686,438				2,311,788
Trading liabilities			7,787,591				8,688,998				(901,407	)
Other liabilities			1,064,095				552,316				511,779
Long-term borrowings			9,265,506				8,402,917				862,589
Total liabilities			37,297,935				34,601,354				2,696,581
Equity
NHI shareholders’ equity:
Common stock
Authorized     -    6,000,000,000 shares
Issued     -    3,719,133,241 shares at June 30, 2011 and                 3,719,133,241 shares at March 31, 2011
Outstanding     -    3,603,246,292 shares at June 30, 2011 and                          3,600,886,932 shares at March 31, 2011			594,493				594,493				—
Additional paid-in capital			648,582				646,315				2,267
Retained earnings			1,087,105				1,069,334				17,771
Accumulated other comprehensive income (loss)			(133,975	)			(129,696	)			(4,279	)
Total NHI shareholders’ equity before treasury stock			2,196,205				2,180,446				15,759
Common stock held in treasury, at cost -
115,886,949 shares at June 30, 2011 and
118,246,309 shares at March 31, 2011			(94,538	)			(97,692	)			3,154
Total NHI shareholders’ equity			2,101,667				2,082,754				18,913
Noncontrolling interests			313,477				8,882				304,595
Total equity			2,415,144				2,091,636				323,508
Total liabilities and equity			39,713,079				36,692,990				3,020,089

 

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(2)	Consolidated Statements of Operations (UNAUDITED)

 

		Millions of yen								% Change
		For the three months ended								(A-B)/(B)
		June 30, 2011 (A)				June 30, 2010 (B)
Revenue:
Commissions			96,780				118,078				(18.0	)
Fees from investment banking			13,770				20,366				(32.4	)
Asset management and portfolio service fees			39,055				34,854				12.1
Net gain on trading			67,500				59,969				12.6
Gain (loss) on private equity investments			(5,950	)			(946	)			—
Interest and dividends			133,087				75,757				75.7
Gain (loss) on investments in equity securities			(597	)			(10,343	)			—
Other			83,365				16,281				412.0
Total revenue			427,010				314,016				36.0
Interest expense			96,645				54,192				78.3
Net revenue			330,365				259,824				27.1
Non-interest expenses:
Compensation and benefits			136,307				122,087				11.6
Commissions and floor brokerage			24,058				23,681				1.6
Information processing and communications			43,547				44,253				(1.6	)
Occupancy and related depreciation			20,692				22,511				(8.1	)
Business development expenses			9,335				7,159				30.4
Other			62,068				33,663				84.4
Non-interest expenses, Total			296,007				253,354				16.8
Income before income taxes			34,358				6,470				431.0
Income tax expense			16,320				3,440				374.4
Net income			18,038				3,030				495.3
Less: Net income attributable to noncontrolling interests			267				708				(62.3	)
Net income attributable to NHI shareholders			17,771				2,322				665.3
		Yen								% Change
Per share of common stock:
Basic-
Net income attributable to NHI shareholders per share			4.93				0.63				682.5
Diluted-
Net income attributable to NHI shareholders per share			4.90				0.63				677.8

 

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(3)	Consolidated Statements of Comprehensive Income (UNAUDITED)

 

		Millions of yen								% Change
		For the three months ended								(A-B)/(B)
		June 30, 2011 (A)				June 30, 2010 (B)
Net income			18,038				3,030				495.3
Other comprehensive income (loss):
Change in cumulative translation adjustments, net of tax			(6,684	)			(28,727	)			—
Defined benefit pension plans:
Pension liability adjustment			470				2,597				(81.9	)
Deferred income taxes			(197	)			(1,067	)			—
Total			273				1,530				(82.2	)
Non-trading securities:
Unrealized gain on non-trading securities			2,348				—				—
Deferred income taxes			(848	)			—				—
Total			1,500				—				—
Total other comprehensive income (loss)			(4,911	)			(27,197	)			—
Comprehensive income (loss)			13,127				(24,167	)			—
Less: Comprehensive income (loss) attributable to noncontrolling interest in subsidiary			(365	)			181				—
Comprehensive income (loss) attributable to NHI shareholders			13,492				(24,348	)			—

 

(4)	Note with respect to the Assumption as a Going Concern (UNAUDITED)

Not applicable.

 

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(5)	Segment Information – Operating Segment (UNAUDITED)

The following table shows business segment information and reconciliation items to the consolidated statements of operations.

 

		Millions of yen								% Change
		For the three months ended								(A-B)/(B)
		June 30, 2011 (A)				June 30, 2010 (B)
Net revenue
Business segment information:
Retail			94,189				110,959				(15.1	)
Asset Management			18,843				15,768				19.5
Wholesale			141,246				108,609				30.0
Sub Total			254,278				235,336				8.0
Other			77,365				35,081				120.5
Net revenue			331,643				270,417				22.6
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes			(1,278	)			(10,593	)			—
Net revenue			330,365				259,824				27.1
Non-interest expenses
Business segment information:
Retail			72,176				73,216				(1.4	)
Asset Management			11,397				11,771				(3.2	)
Wholesale			156,102				149,755				4.2
Sub Total			239,675				234,742				2.1
Other			56,332				18,612				202.7
Non-interest expenses			296,007				253,354				16.8
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes			—				—				—
Non-interest expenses			296,007				253,354				16.8
Income (loss) before income taxes
Business segment information:
Retail			22,013				37,743				(41.7	)
Asset Management			7,446				3,997				86.3
Wholesale			(14,856	)			(41,146	)			—
Sub Total			14,603				594				—
Other *			21,033				16,469				27.7
Income (loss) before income taxes			35,636				17,063				108.8
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes			(1,278	)			(10,593	)			—
Income (loss) before income taxes			34,358				6,470				431.0

 

 

*	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								% Change
		For the three months ended
		June 30, 2011 (A)				June 30, 2010 (B)				(A-B)/(B)
Net gain (loss) related to economic hedging transactions			(1,505	)			5,228				—
Realized gain (loss) on investments in equity securities held for operating purposes			681				250				172.4
Equity in earnings of affiliates			3,475				363				857.3
Corporate items			12,783				(2,486	)			—
Others			5,599				13,114				(57.3	)
Total			21,033				16,469				27.7

Note: Certain reclassifications of previously reported amounts have been made to conform to the current period presentation.

 

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(6) Significant Changes in Equity (UNAUDITED)

Not applicable. For further details of the changes, please refer below.

 

		Millions of yen
		For the three months ended
		June 30, 2011
Common stock
Balance at beginning of year			594,493
Balance at end of period			594,493
Additional paid-in capital
Balance at beginning of year			646,315
Gain (loss) on sales of treasury stock			(137	)
Issuance and exercise of common stock options			2,115
Purchase / sale (disposition) of subsidiary shares			289
Balance at end of period			648,582
Retained earnings
Balance at beginning of year			1,069,334
Net income attributable to NHI shareholders			17,771
Balance at end of period			1,087,105
Accumulated other comprehensive income (loss)
Cumulative translation adjustments
Balance at beginning of year			(97,426	)
Net change during the period			(6,052	)
Balance at end of period			(103,478	)
Defined benefit pension plans
Balance at beginning of year			(32,270	)
Pension liability adjustment			273
Balance at end of period			(31,997	)
Non-trading securities
Balance at beginning of year			—
Unrealized gain on non-trading securities			1,500
Balance at the end of the year			1,500
Balance at end of period			(133,975	)
Common stock held in treasury
Balance at beginning of year			(97,692	)
Repurchases of common stock			(641	)
Sale of common stock			1
Common stock issued to employees			3,638
Other net change in treasury stock			156
Balance at end of period			(94,538	)
Total NHI shareholders’ equity
Balance at end of period			2,101,667
Noncontrolling interests
Balance at beginning of year			8,882
Net change during the period			304,595
Balance at end of period			313,477
Total equity
Balance at end of period			2,415,144

 

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4.	Supplementary Information

 

(1)	Consolidated Statements of Operations – Quarterly Comparatives (UNAUDITED)

 

		Millions of yen																				% Change				Millions of yen
		For the three months ended																				(B-A)/(A)				For the year ended March 31, 2011
		June 30, 2010				September 30, 2010				December 31, 2010				March 31, 2011 (A)				June 30, 2011 (B)
Revenue:
Commissions			118,078				83,520				100,041				103,824				96,780				(6.8	)			405,463
Fees from investment banking			20,366				24,892				33,974				27,773				13,770				(50.4	)			107,005
Asset management and portfolio service fees			34,854				33,712				37,119				38,254				39,055				2.1				143,939
Net gain on trading			59,969				102,993				104,878				68,663				67,500				(1.7	)			336,503
Gain (loss) on private equity investments			(946	)			(963	)			(2,386	)			23,587				(5,950	)			—				19,292
Interest and dividends			75,757				69,960				106,880				93,506				133,087				42.3				346,103
Gain (loss) on investments in equity securities			(10,343	)			(5,685	)			2,106				(2,755	)			(597	)			—				(16,677	)
Other			16,281				11,989				3,422				12,172				83,365				584.9				43,864
Total revenue			314,016				320,418				386,034				365,024				427,010				17.0				1,385,492
Interest expense			54,192				44,795				90,167				65,640				96,645				47.2				254,794
Net revenue			259,824				275,623				295,867				299,384				330,365				10.3				1,130,698
Non-interest expenses:
Compensation and benefits			122,087				126,694				143,131				127,081				136,307				7.3				518,993
Commissions and floor brokerage			23,681				21,357				24,013				23,037				24,058				4.4				92,088
Information processing and communications			44,253				46,662				44,209				47,794				43,547				(8.9	)			182,918
Occupancy and related depreciation			22,511				23,086				20,507				21,739				20,692				(4.8	)			87,843
Business development expenses			7,159				6,780				7,429				8,785				9,335				6.3				30,153
Other			33,663				29,446				28,804				33,535				62,068				85.1				125,448
			253,354				254,025				268,093				261,971				296,007				13.0				1,037,443
Income before income taxes			6,470				21,598				27,774				37,413				34,358				(8.2	)			93,255
Income tax expense			3,440				19,660				14,483				23,747				16,320				(31.3	)			61,330
Net income			3,030				1,938				13,291				13,666				18,038				32.0				31,925
Less: Net income (loss) attributable to noncontrolling interests			708				887				(98	)			1,767				267				(84.9	)			3,264
Net income attributable to NHI shareholders			2,322				1,051				13,389				11,899				17,771				49.3				28,661
		Yen																				% Change				Yen
Per share of common stock:
Basic-
Net income attributable to NHI shareholders per share			0.63				0.29				3.72				3.30				4.93				49.4				7.90
Diluted-
Net income attributable to NHI shareholders per share			0.63				0.29				3.70				3.28				4.90				49.4				7.86

 

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(2)	Business Segment Information – Quarterly Comparatives (UNAUDITED)

The following table shows quarterly business segment information and reconciliation items to the consolidated statements of operations

 

		Millions of yen																				% Change				Millions of yen
		For the three months ended																				(B-A)/(A)				For the year ended March 31, 2011
		June 30, 2010				September 30, 2010				December 31, 2010				March 31, 2011 (A)				June 30, 2011 (B)
Net revenue
Business segment information:
Retail			110,959				87,753				97,482				96,239				94,189				(2.1	)			392,433
Asset Management			15,768				16,191				17,278				17,298				18,843				8.9				66,535
Wholesale			108,609				163,405				172,174				186,348				141,246				(24.2	)			630,536
Sub Total			235,336				267,349				286,934				299,885				254,278				(15.2	)			1,089,504
Other			35,081				13,246				7,218				2,545				77,365				—				58,090
Net revenue			270,417				280,595				294,152				302,430				331,643				9.7				1,147,594
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes			(10,593	)			(4,972	)			1,715				(3,046	)			(1,278	)			—				(16,896	)
Net revenue			259,824				275,623				295,867				299,384				330,365				10.3				1,130,698
Non-interest expenses
Business segment information:
Retail			73,216				64,975				74,482				78,572				72,176				(8.1	)			291,245
Asset Management			11,771				12,022				11,702				11,018				11,397				3.4				46,513
Wholesale			149,755				155,764				161,389				156,911				156,102				(0.5	)			623,819
Sub Total			234,742				232,761				247,573				246,501				239,675				(2.8	)			961,577
Other			18,612				21,264				20,520				15,470				56,332				264.1				75,866
Non-interest expenses			253,354				254,025				268,093				261,971				296,007				13.0				1,037,443
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes			—				—				—				—				—				—				—
Non-interest expenses			253,354				254,025				268,093				261,971				296,007				13.0				1,037,443
Income (loss) before income taxes
Business segment information:
Retail			37,743				22,778				23,000				17,667				22,013				24.6				101,188
Asset Management			3,997				4,169				5,576				6,280				7,446				18.6				20,022
Wholesale			(41,146	)			7,641				10,785				29,437				(14,856	)			—				6,717
Sub Total			594				34,588				39,361				53,384				14,603				(72.6	)			127,927
Other*			16,469				(8,018	)			(13,302	)			(12,925	)			21,033				—				(17,776	)
Income (loss) before income taxes			17,063				26,570				26,059				40,459				35,636				(11.9	)			110,151
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes			(10,593	)			(4,972	)			1,715				(3,046	)			(1,278	)			—				(16,896	)
Income (loss) before income taxes			6,470				21,598				27,774				37,413				34,358				(8.2	)			93,255

 

 

*	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																				% Change				Millions of yen
		For the three months ended																				(B-A)/(A)				For the year ended March 31, 2011
		June 30, 2010				September 30, 2010				December 31, 2010				March 31, 2011 (A)				June 30, 2011 (B)
Net gain (loss) related to economic hedging transactions			5,228				(6,019	)			5,168				(2,087	)			(1,505	)			—				2,290
Realized gain (loss) on investments in equity securities held for operating purposes			250				(713	)			391				291				681				134.0				219
Equity in earnings of affiliates			363				1,993				1,380				5,260				3,475				(33.9	)			8,996
Corporate items			(2,486	)			5,512				(15,668	)			(20,685	)			12,783				—				(33,327	)
Others			13,114				(8,791	)			(4,573	)			4,296				5,599				30.3				4,046
Total			16,469				(8,018	)			(13,302	)			(12,925	)			21,033				—				(17,776	)

Note: Certain reclassifications of previously reported amounts have been made to conform to the current period presentation.

 

 

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(3)	Unconsolidated Quarterly Financial Statements [Japanese GAAP]

Unconsolidated quarterly financial statements have been voluntarily disclosed and prepared based on regulatory rules.

Nomura Holdings, Inc. Unconsolidated Balance Sheets

(UNAUDITED)

 

			2,891,397				2,891,397				2,891,397
		Millions of yen
		June 30, 2011				March 31, 2011				Increase/ (Decrease)
Assets
Current Assets			3,110,679				2,891,397				219,282
Fixed Assets			2,473,948				2,387,184				86,764
Total Assets			5,584,627				5,278,581				306,046
Liabilities
Current Liabilities			1,058,670				831,833				226,838
Long-term Liabilities			2,758,723				2,681,854				76,869
Total Liabilities			3,817,394				3,513,687				303,707
Net Assets
Shareholders’ equity			1,667,095				1,681,019				(13,924	)
Valuation and translation adjustments			66,153				52,339				13,814
Subscription rights to shares			33,985				31,536				2,449
Total Net Assets			1,767,233				1,764,894				2,339
Total Liabilities and Net Assets			5,584,627				5,278,581				306,046

Nomura Holdings, Inc. Unconsolidated Statements of Operations

(UNAUDITED)

 

			2,891,397				2,891,397				2,891,397
		Millions of yen
		For the three months ended								% Change
		June 30, 2011  (A)				June 30, 2010  (B)				(A-B)/(B)
Operating revenue			53,619				58,620				(8.5	)
Operating expenses			52,006				50,124				3.8
Operating income			1,613				8,496				(81.0	)
Non-operating income			1,664				3,791				(56.1	)
Non-operating expenses			1,534				677				126.8
Ordinary income			1,742				11,610				(85.0	)
Special profits			2,167				490				342.1
Special losses			3,475				357				872.4
Income before income taxes			434				11,743				(96.3	)
Income taxes - current			2,589				(455	)			—
Income taxes - deferred			512				(542	)			—
Net income (loss)			(2,667	)			12,739				—

 

(4)

Other

Quarterly financial information for Nomura Securities Co., Ltd. can be found on the following URL.

http://www.nomuraholdings.com/company/group/nsc/pdf/2012_1q.pdf

 

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