Nomura Holdings (NYSE: NMR) posts ¥686.7B net revenue in Q1 2026

Rhea-AI Filing Summary

Nomura Holdings reported higher earnings for the three months ended June 30, 2026 under U.S. GAAP. Net revenue rose to ¥686.7 billion from ¥523.3 billion, while income before income taxes increased to ¥211.5 billion. Net income attributable to shareholders grew to ¥145.6 billion, with basic EPS of ¥49.90 and annualized ROE of 15.4%.

Increases were broad-based across business segments. Wealth Management, Investment Management and Wholesale all reported higher net revenue and sharply higher income before income taxes, while assets under management reached ¥156.4 trillion. Non-interest expenses increased to ¥475.2 billion, and the Other segment recorded a ¥7.0 billion pre-tax loss. The balance sheet expanded, with total assets at ¥68,224.0 billion and total equity at ¥3,993.7 billion as of June 30, 2026.

Positive

• Net income attributable to shareholders rose to ¥145.6 billion for the three months ended June 30, 2026, up 39.2% year on year, with basic EPS increasing to ¥49.90 and annualized ROE improving to 15.4% from 12.0%.
• Core businesses strengthened: Wealth Management, Investment Management and Wholesale lifted income before income taxes by 83.4%, 109.0% and 122.7%, respectively, while group net revenue grew 31.2% to ¥686.7 billion.

Negative

• The Other segment weakened significantly, with net revenue falling 43.0% to ¥53.1 billion and non-interest expenses rising 56.0%, resulting in a pre-tax loss of ¥7.0 billion versus a ¥54.6 billion profit a year earlier.

Filing Explained

Issued common shares were unchanged through June 30, while the 6-K was incorporated into two F-3 prospectuses without reporting an offering.

Form 6-K is an interim report used by a foreign private issuer to furnish material home-market information; this filing furnishes Nomura’s U.S. GAAP results for the three months ended June 30, 2026. Nomura also incorporates the financial summary by reference into two F-3 prospectuses, but this filing does not report an offering or sale.

For existing common holders, issued shares were unchanged at 3,088,562,601 on March 31 and June 30, 2026, while outstanding shares increased from 2,901,337,224 to 2,922,592,249 as treasury shares declined from 187,225,377 to 165,970,352. The equity rollforward records ¥18,526 million of repurchases and ¥30,663 million of common stock issued to employees.

The filing’s going-concern note is marked “Not applicable”; a going-concern qualification is the defined disclosure of substantial doubt about funding operations for the next 12 months.

The two F-3 registration statements are the specific items to monitor: this 6-K supplies information to those prospectuses, but does not provide offering size, price, proceeds, or dilution terms.

Key Figures

Net revenue: ¥686,714 million Net income attributable to shareholders: ¥145,561 million Basic EPS: ¥49.90 +5 more

8 metrics

Net revenue ¥686,714 million For the three months ended June 30, 2026; up 31.2% year on year

Net income attributable to shareholders ¥145,561 million For the three months ended June 30, 2026; up 39.2% year on year

Basic EPS ¥49.90 Basic net income per share for the three months ended June 30, 2026

Return on shareholders’ equity 15.4% Annualized ROE for the three months ended June 30, 2026

Total assets ¥68,224.0 billion Total assets as of June 30, 2026

Total equity ¥3,993.7 billion Total equity as of June 30, 2026

Non-interest expenses ¥475,175 million Non-interest expenses for the three months ended June 30, 2026; up 30.9% year on year

Assets under management ¥156.4 trillion Investment Management assets under management as of June 30, 2026

Key Terms

Net revenue, Non-interest expenses, Assets under management, Own credit adjustments, +1 more

5 terms

Net revenue financial

"Net revenue | | | 523,315 | | | | 686,714 |"

Net revenue is the total amount of money a company earns from selling its products or services after subtracting any returns, discounts, or refunds. It shows how much actual income the company keeps from its sales. This figure is important because it reveals the true earnings from business activities, helping people understand how well the company is doing.

Non-interest expenses financial

"Total non-interest expenses | | | 363,033 | | | | 475,175 |"

Non-interest expenses are a company's routine operating costs that are not related to borrowing or lending interest, such as salaries, rent, utilities, technology, advertising and depreciation. Think of them as a household's monthly bills and upkeep costs excluding mortgage or loan interest. Investors watch these expenses because they directly reduce profits and reveal how efficiently a business turns revenue into earnings; rising non-interest costs can erode returns even if sales are steady.

Assets under management financial

"Assets under management were 156.4 trillion yen as of June 30, 2026."

Assets under management (AUM) is the total value of all the investments that a financial company or fund is responsible for overseeing on behalf of its clients. It’s like a big bucket that shows how much money the firm is managing for people or organizations. A higher AUM often indicates a larger, more trusted company, and it can influence how much money they earn and the services they can offer.

Own credit adjustments financial

"Own credit adjustments | | | (3,880 | ) | | | (18,746 | ) |"

Comprehensive income financial

"Comprehensive income | | | 61,629 | | | | 176,502 |"

Comprehensive income is the total change in a company’s value in a reporting period that comes from everyday operations plus other gains or losses not shown on the regular profit-and-loss statement. Think of net income as the visible money earned this year and comprehensive income as that money plus hidden adjustments—such as currency swings, unrealized gains or losses on investments, and pension revaluations—that also affect shareholders’ stake and help investors see the fuller financial picture.

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FAQ

What were Nomura Holdings (NMR) net revenue and profit for the quarter ended June 30, 2026?

Nomura Holdings reported net revenue of ¥686.7 billion and net income attributable to shareholders of ¥145.6 billion for the three months ended June 30, 2026, up from ¥523.3 billion and ¥104.6 billion in the same period of 2025.

How did EPS and ROE change for Nomura Holdings (NMR) year on year?

Basic EPS increased to ¥49.90 from ¥35.19, a 41.8% rise, and diluted EPS reached ¥48.34. Annualized return on shareholders’ equity improved to 15.4% from 12.0% for the three months ended June 30, 2026.

How did Nomura Holdings (NMR) main business segments perform in Q1 2026?

Wealth Management net revenue rose to ¥145.4 billion and pre-tax income to ¥71.1 billion. Investment Management net revenue reached ¥98.3 billion with pre-tax income of ¥45.0 billion, and Wholesale net revenue grew to ¥369.1 billion with pre-tax income of ¥93.3 billion.

What was Nomura Holdings (NMR) balance sheet size as of June 30, 2026?

Total assets were ¥68,224.0 billion as of June 30, 2026, up ¥5,578.1 billion from March 31, 2026. Total equity stood at ¥3,993.7 billion, including NHI shareholders’ equity of ¥3,834.3 billion and noncontrolling interests of ¥159.4 billion.

What were assets under management for Nomura Holdings (NMR) as of June 30, 2026?

In the Investment Management segment, assets under management were ¥156.4 trillion as of June 30, 2026, supporting a near-doubling of segment net revenue to ¥98.3 billion and a 109.0% increase in income before income taxes to ¥45.0 billion.

How did Nomura Holdings (NMR) operating expenses evolve in the latest quarter?

Non-interest expenses rose to ¥475.2 billion for the three months ended June 30, 2026, an increase of 30.9% from ¥363.0 billion a year earlier, driven by higher compensation, commissions, information processing and other operating costs.

Table of Contents

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 2026

NOMURA HOLDINGS, INC.

(Translation of registrant’s name into English)

13-1, 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):    

Table of Contents

Information furnished on this form:

EXHIBIT

Exhibit Number
1.		Financial Summary – Three months ended June 30, 2026.

The registrant hereby incorporates Exhibit 1 to this report on Form 6-K by reference (i) in the prospectus that is part of the Registration Statement on Form F-3 (Registration No. 333-283915) of the registrant, originally filed with the SEC on December 19, 2024, as amended by Post-Effective Amendment No. 1 thereto, filed with the SEC on August 29, 2025 and (ii) in the prospectus that is part of the Registration Statement on Form F-3 (Registration No. 333-297506) of the registrant and of Nomura America Finance, LLC, filed with the SEC on July 16, 2026.

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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, 2026		By:		/s/ Akito Bato
				Akito Bato
				Senior Managing Director

Table of Contents

Financial Summary For the Three Months Ended June 30, 2026 (U.S. GAAP)

Date:		July 29, 2026
Company name (code number):		Nomura Holdings, Inc. (8604)
Stock exchange listings:		(In Japan) Tokyo, Nagoya (Overseas) New York, Singapore
Representative:		Kentaro Okuda President and Group CEO, Nomura Holdings, Inc.
For inquiries:		Akihiro Koseki Managing Director, Head of Investor Relations, Nomura Holdings, Inc. Tel: (Country Code 81) 3-5255-1000 URL: https://www.nomura.com

1. Consolidated Operating Results

(1) Operating Results

		(Rounded to nearest million)
		(Millions of yen, except per share data)
		For the three months ended June 30
		2025								2026
						% Change from June 30, 2024								% Change from June 30, 2025
Total revenue			1,156,588				(5.0	%)			1,371,708				18.6	%
Net revenue			523,315				15.2	%			686,714				31.2	%
Income before income taxes			160,282				55.7	%			211,539				32.0	%
Net income attributable to Nomura Holdings, Inc. (“NHI”) shareholders			104,565				51.7	%			145,561				39.2	%
Comprehensive income			61,629				(67.4	%)			176,502				186.4	%
Basic-Net income attributable to NHI shareholders per share (Yen)			35.19								49.90
Diluted-Net income attributable to NHI shareholders per share (Yen)			34.04								48.34
Return on shareholders’ equity - annualized			12.0	%							15.4	%

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

(2) Financial Position

		(Millions of yen, except per share data)
		At March 31				At June 30
		2026				2026
Total assets			62,645,925				68,224,010
Total equity			3,854,915				3,993,713
Total NHI shareholders’ equity			3,707,868				3,834,275
Total NHI shareholders’ equity as a percentage of total assets			5.9	%			5.6	%
Total NHI shareholders’ equity per share (Yen)			1,277.99				1,311.94

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2. Cash Dividends

										(Yen amounts)
		For the year ended March 31
		2026				2027				2027 (Plan)
Dividends per share
Dividends record dates
At June 30			—				—				—
At September 30			27.00				—				Unconfirmed
At December 31			—				—				—
At March 31			24.00				—				Unconfirmed
For the year			51.00				—				Unconfirmed

Note: Fiscal year 2027 Q2 and Q4 dividends are not presented per reasons stated in “3. Earnings forecasts for the year ending March 31, 2027”.

3. Earnings Forecasts for the year ending March 31, 2027

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.

Notes

(1) Significant changes in the scope of consolidation during the period: None

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

(3) Changes in accounting policies

  a)  Changes in accounting policies due to amendments to the accounting standards : None

  b)  Changes in accounting policies due to other than a) : None

(4) Number of shares issued (common stock)

		At March 31				At June 30
		2026				2026
Number of shares outstanding (including treasury stock)			3,088,562,601				3,088,562,601
Number of treasury stock			187,225,377				165,970,352
		For the three months ended June 30
		2025				2026
Average number of shares outstanding (year-to-date)			2,971,653,091				2,917,278,407

*Review of the Japanese-language originals of the attached consolidated quarterly financial statements by certified public accountants or an audit firm: None

*Proper use of earnings forecasts, and other special matters

We voluntarily have engaged our independent auditor to conduct a review of the quarterly consolidated financial statements. We plan

to release the quarterly financial statements with the accompanying review report on August 6, 2026.

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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. 4
(3) Consolidated Earnings Forecasts			P. 4
2. Quarterly Consolidated Financial Statements			P. 5
(1) Consolidated Balance Sheets			P. 6
(2) Consolidated Statements of Income			P. 8
(3) Consolidated Statements of Comprehensive Income			P. 9
(4) Segment Information – Operating Segment			P. 10
(5) Significant Changes in Equity			P. 12
(6) Note with respect to the Assumption as a Going Concern			P. 13
(7) Note with respect to Consolidated Statements of Cash Flows			P. 13
3. Supplementary Information			P. 14
(1) Consolidated Statements of Income – Quarterly Comparatives			P. 14
(2)  Business Segment Information – Quarterly Comparatives			P. 15
(3) Other			P. 16

– 1 –

Table of Contents

1. Qualitative Information of the Quarterly Consolidated Results

(1) Consolidated Operating Results

 U.S. GAAP

		Billions of yen								% Change
		For the three months ended								(B-A)/(A)
		June 30, 2025 (A)				June 30, 2026 (B)
Net revenue			523.3				686.7				31.2
Non-interest expenses			363.0				475.2				30.9
Income (loss) before income taxes			160.3				211.5				32.0
Income tax expense			52.8				55.4				4.9
Net income (loss)			107.5				156.1				45.3
Less: Net income (loss) attributable to noncontrolling interests			2.9				10.6				263.1
Net income (loss) attributable to NHI shareholders			104.6				145.6				39.2
Return on shareholders’ equity - annualized			12.0	%			15.4	%			—

Note: 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 686.7 billion yen for the three months ended June 30, 2026, an increase of 31.2% from the same period in the prior year. Non-interest expenses increased by 30.9% from the same period in the prior year to 475.2 billion yen. Income before income taxes was 211.5 billion yen and net income attributable to NHI shareholders was 145.6 billion yen for the three months ended June 30, 2026.

 Segment Information

		Billions of yen								% Change
		For the three months ended								(B-A)/(A)
		June 30, 2025 (A)				June 30, 2026 (B)
Net revenue			523.4				681.2				30.1
Non-interest expenses			363.0				475.2				30.9
Income (loss) before income taxes			160.4				206.0				28.4

In the above segment information totals, which exclude a part of unrealized gain (loss) on investments in equity securities held for operating purposes, net revenue for the three months ended June 30, 2026 was 681.2 billion yen, an increase of 30.1% from the same period in the prior year. Non-interest expenses increased by 30.9% from the same period in the prior year to 475.2 billion yen. Income before income taxes increased by 28.4% to 206.0 billion yen for the three months ended June 30, 2026. Please refer to page 10 for further details of the differences between U.S. GAAP and business segment amounts.

– 2 –

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<Business Segment Results>

 Operating Results of Wealth Management

		Billions of yen								% Change
		For the three months ended								(B-A)/(A)
		June 30, 2025 (A)				June 30, 2026 (B)
Net revenue			105.8				145.4				37.5
Non-interest expenses			67.0				74.3				10.9
Income (loss) before income taxes			38.8				71.1				83.4

Net revenue increased by 37.5% from the same period in the prior year to 145.4 billion yen. Non-interest expenses increased by 10.9% to 74.3 billion yen. As a result, income before income taxes increased by 83.4% to 71.1 billion yen.

 Operating Results of Investment Management

		Billions of yen								% Change
		For the three months ended								(B-A)/(A)
		June 30, 2025 (A)				June 30, 2026 (B)
Net revenue			50.6				98.3				94.4
Non-interest expenses			29.0				53.3				83.6
Income (loss) before income taxes			21.5				45.0				109.0

Net revenue increased by 94.4% from the same period in the prior year to 98.3 billion yen. Non-interest expenses increased by 83.6% to 53.3 billion yen. As a result, income before income taxes increased by 109.0% to 45.0 billion yen. Assets under management were 156.4 trillion yen as of June 30, 2026.

 Operating Results of Wholesale

		Billions of yen								% Change
		For the three months ended								(B-A)/(A)
		June 30, 2025 (A)				June 30, 2026 (B)
Net revenue			261.1				369.1				41.4
Non-interest expenses			219.2				275.8				25.8
Income (loss) before income taxes			41.9				93.3				122.7

Net revenue increased by 41.4% from the same period in the prior year to 369.1 billion yen. Non-interest expenses increased by 25.8% to 275.8 billion yen. As a result, income before income taxes increased by 122.7% to 93.3 billion yen.

– 3 –

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 Operating Results of Banking

		Billions of yen								% Change
		For the three months ended								(B-A)/(A)
		June 30, 2025 (A)				June 30, 2026 (B)
Net revenue			12.8				15.2				18.7
Non-interest expenses			9.2				11.6				25.8
Income (loss) before income taxes			3.6				3.6				0.6

Net revenue increased by 18.7% from the same period in the prior year to 15.2 billion yen. Non-interest expenses increased by 25.8% to 11.6 billion yen. As a result, income before income taxes increased by 0.6% to 3.6 billion yen.

 Other Operating Results

		Billions of yen								% Change
		For the three months ended								(B-A)/(A)
		June 30, 2025 (A)				June 30, 2026 (B)
Net revenue			93.2				53.1				(43.0	)
Non-interest expenses			38.6				60.1				56.0
Income (loss) before income taxes			54.6				(7.0	)			—

Net revenue was 53.1 billion yen. Loss before income taxes was 7.0 billion yen.

(2) Consolidated Financial Position

Total assets as of June 30, 2026 were 68,224.0 billion yen, an increase of 5,578.1 billion yen compared to March 31, 2026, mainly due to the increase in Trading assets. Total liabilities as of June 30, 2026 were 64,230.3 billion yen, an increase of 5,439.3 billion yen compared to March 31, 2026, mainly due to the increase in Trading liabilities. Total equity as of June 30, 2026 was 3,993.7 billion yen, an increase of 138.8 billion yen compared to March 31, 2026.

(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.

– 4 –

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2. Quarterly Consolidated Financial Statements

Nomura’s quarterly consolidated financial statements, which comprise the consolidated balance sheet, consolidated statement of income, consolidated statement of comprehensive income and notes, have been prepared in accordance with Article 5, Paragraph 4 of the Tokyo Stock Exchange Inc. and Nagoya Stock Exchange Inc.’s Standards for the Preparation of Quarterly Financial Statements (the Standards) and accounting principles generally accepted in the United States, applying the provisions for reduced disclosures as set forth in Article 5, Paragraph 5 of the Standards.

The quarterly consolidated financial statements herein have 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 22, 2026) and Form 20-F (the annual report filed with the U.S. Securities and Exchange Commission on June 22, 2026) for the year ended March 31, 2026.

– 5 –

Table of Contents

(1) Consolidated Balance Sheets

		Millions of yen
		March 31, 2026				June 30, 2026				Increase/ (Decrease)
ASSETS
Cash and cash deposits:
Cash and cash equivalents			4,298,693				4,859,544				560,851
Time deposits			709,639				679,373				(30,266	)
Deposits with stock exchanges and other segregated cash			640,642				620,598				(20,044	)
Total cash and cash deposits			5,648,974				6,159,515				510,541
Loans and receivables:
Loans receivable			7,745,214				8,159,132				413,918
Receivables from customers			470,341				842,536				372,195
Receivables from other than customers			1,345,631				1,230,092				(115,539	)
Allowance for credit losses			(18,381	)			(18,857	)			(476	)
Total loans and receivables			9,542,805				10,212,903				670,098
Collateralized agreements:
Securities purchased under agreements to resell			13,210,236				13,936,728				726,492
Securities borrowed			4,339,659				4,915,734				576,075
Total collateralized agreements			17,549,895				18,852,462				1,302,567
Trading assets and private equity and debt investments:
Trading assets*			26,128,073				28,837,153				2,709,080
Private equity and debt investments*			214,014				232,273				18,259
Total trading assets and private equity and debt investments			26,342,087				29,069,426				2,727,339
Other assets:
Office buildings, land, equipment and facilities (net of accumulated depreciation and amortization of ¥ 600,417 million as of March 31, 2026 and ¥ 618,628 million as of June 30, 2026)			543,847				562,673				18,826
Non-trading debt securities*			761,267				848,257				86,990
Investments in equity securities*			123,191				133,397				10,206
Investments in and advances to affiliated companies*			535,402				544,644				9,242
Other			1,598,457				1,840,733				242,276
Total other assets			3,562,164				3,929,704				367,540
Total assets			62,645,925				68,224,010				5,578,085

^*  Including securities pledged as collateral

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						Millions of yen
						March 31, 2026				June 30, 2026				Increase/ (Decrease)
LIABILITIES AND EQUITY
Short-term borrowings							1,752,669				1,933,441				180,772
Payables and deposits:
Payables to customers							1,598,758				1,895,009				296,251
Payables to other than customers							3,432,040				3,536,626				104,586
Deposits received at banks							3,667,090				3,878,685				211,595
Total payables and deposits							8,697,888				9,310,320				612,432
Collateralized financing:
Securities sold under agreements to repurchase							15,233,838				16,108,510				874,672
Securities loaned							2,448,284				2,585,318				137,034
Other secured borrowings							384,156				386,081				1,925
Total collateralized financing							18,066,278				19,079,909				1,013,631
Trading liabilities							12,915,584				15,431,403				2,515,819
Other liabilities							1,813,635				1,723,659				(89,976	)
Long-term borrowings							15,544,956				16,751,565				1,206,609
Total liabilities							58,791,010				64,230,297				5,439,287
Equity
NHI shareholders’ equity:
Common stock
Authorized		-		6,000,000,000 shares
Issued		-		3,088,562,601 shares as of March 31, 2026 and
				3,088,562,601 shares as of June 30, 2026
Outstanding		-		2,901,337,224 shares as of March 31, 2026 and
				2,922,592,249 shares as of June 30, 2026			594,493				594,493				—
Additional paid-in capital							706,261				663,809				(42,452	)
Retained earnings							2,013,986				2,151,990				138,004
Accumulated other comprehensive income (loss)							548,221				566,939				18,718
Total NHI shareholders’ equity before treasury stock							3,862,961				3,977,231				114,270
Common stock held in treasury, at cost -
187,225,377 shares as of March 31, 2026 and
165,970,352 shares as of June 30, 2026							(155,093	)			(142,956	)			12,137
Total NHI shareholders’ equity							3,707,868				3,834,275				126,407
Noncontrolling interests							147,047				159,438				12,391
Total equity							3,854,915				3,993,713				138,798
Total liabilities and equity							62,645,925				68,224,010				5,578,085

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(2) Consolidated Statements of Income

		Millions of yen								% Change
		For the three months ended								(B-A)/(A)
		June 30, 2025(A)				June 30, 2026(B)
Revenue:
Commissions			100,606				128,178				27.4
Fees from investment banking			38,357				56,236				46.6
Asset management and portfolio service fees			92,855				162,054				74.5
Net gain on trading			142,239				230,292				61.9
Gain on private equity and debt investments			6,330				564				(91.1	)
Interest and dividends			649,561				698,543				7.5
Gain (loss) on investments in equity securities			(377	)			6,792				—
Other			127,017				89,049				(29.9	)
Total revenue			1,156,588				1,371,708				18.6
Interest expense			633,273				684,994				8.2
Net revenue			523,315				686,714				31.2
Non-interest expenses:
Compensation and benefits			186,310				236,764				27.1
Commissions and floor brokerage			44,778				74,335				66.0
Information processing and communications			57,164				70,710				23.7
Occupancy and related depreciation			15,965				18,742				17.4
Business development expenses			6,992				8,500				21.6
Other			51,824				66,124				27.6
Total non-interest expenses			363,033				475,175				30.9
Income before income taxes			160,282				211,539				32.0
Income tax expense			52,808				55,416				4.9
Net income			107,474				156,123				45.3
Less: Net income attributable to noncontrolling interests			2,909				10,562				263.1
Net income attributable to NHI shareholders			104,565				145,561				39.2
Per share of common stock:
		Yen								% Change
Basic-
Net income attributable to NHI shareholders per share			35.19				49.90				41.8
Diluted-
Net income attributable to NHI shareholders per share			34.04				48.34				42.0

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(3) Consolidated Statements of Comprehensive Income

		Millions of yen								% Change
		For the three months ended								(B-A)/(A)
		June 30, 2025(A)				June 30, 2026(B)
Net income			107,474				156,123				45.3
Other comprehensive income (loss):
Cumulative translation adjustments:
Cumulative translation adjustments			(40,858	)			41,185				—
Deferred income taxes			1,258				(912	)			—
Total			(39,600	)			40,273				—
Defined benefit pension plans:
Pension liability adjustment			(4,197	)			(3,387	)			—
Deferred income taxes			(3	)			336				—
Total			(4,200	)			(3,051	)			—
Non-trading debt securities:
Net unrealized gain on non-trading debt securities			565				330				(41.6	)
Deferred income taxes			(178	)			(104	)			—
Total			387				226				(41.6	)
Own credit adjustments:
Own credit adjustments			(3,880	)			(18,746	)			—
Deferred income taxes			1,448				1,677				15.8
Total			(2,432	)			(17,069	)			—
Total other comprehensive income (loss)			(45,845	)			20,379				—
Comprehensive income			61,629				176,502				186.4
Less: Comprehensive income attributable to noncontrolling interests			3,347				12,223				265.2
Comprehensive income attributable to NHI shareholders			58,282				164,279				181.9

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(4) Segment Information – Operating Segment

Nomura’s Chief Operating Decision Maker is the Executive Management Board (the “EMB”) which is the management function primarily responsible for assessing performance of and allocating resources to the business segments. The EMB reviews business segment results including Net revenue, Non-interest expenses, and Income before income taxes on a regular basis. The EMB uses these measures along with certain segment-specific Key Performance Indicators (KPIs) and budgets to evaluate segment performance and to make key operating decisions, including resource and capital allocations. Business segments’ information on total assets is not disclosed as EMB does not consider such information for its operating decisions and therefore, it is not reported.

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

		Millions of yen								% Change
		For the three months ended								(B-A)/(A)
		June 30, 2025 (A)				June 30, 2026 (B)
Net revenue
Business segment information:
Wealth Management			105,796				145,417				37.5
Investment Management			50,574				98,314				94.4
Wholesale			261,072				369,097				41.4
Banking			12,845				15,244				18.7
Subtotal			430,287				628,072				46.0
Other			93,160				53,105				(43.0	)
Net revenue			523,447				681,177				30.1
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes			(132	)			5,537				—
Net revenue			523,315				686,714				31.2
Non-interest expenses (*1)
Business segment information:
Wealth Management			67,041				74,341				10.9
Investment Management			29,047				53,327				83.6
Wholesale			219,164				275,769				25.8
Banking			9,231				11,608				25.8
Subtotal			324,483				415,045				27.9
Other			38,550				60,130				56.0
Non-interest expenses			363,033				475,175				30.9
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes			—				—				—
Non-interest expenses			363,033				475,175				30.9
Income (loss) before income taxes
Business segment information:
Wealth Management			38,755				71,076				83.4
Investment Management			21,527				44,987				109.0
Wholesale			41,908				93,328				122.7
Banking			3,614				3,636				0.6
Subtotal			105,804				213,027				101.3
Other (*2)			54,610				(7,025	)			—
Income (loss) before income taxes			160,414				206,002				28.4
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes			(132	)			5,537				—
Income (loss) before income taxes			160,282				211,539				32.0

(*1) Includes primarily personnel expenses, occupancy, technology, and professional fees.

(*2) 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								(B-A)/(A)
		June 30, 2025 (A)				June 30, 2026 (B)
Net gain (loss) related to economic hedging transactions			1,067				(2,045	)			—
Realized gain (loss) on investments in equity securities held for operating purposes			5				1,190				—
Equity in earnings of affiliates			12,321				10,492				(14.8)
Corporate items			(11,637	)			(15,964	)			—
Other			52,854				(698	)			—
Total			54,610				(7,025	)			—

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(5) Significant Changes in Equity

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

		Millions of yen
		For the three months ended June 30, 2026
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			706,261
Stock-based compensation awards			(42,439	)
Changes in an affiliated company’s interests			(13	)
Balance at end of period			663,809
Retained earnings
Balance at beginning of year			2,013,986
Net income attributable to NHI shareholders			145,561
Loss on disposal of treasury stock			(7,557	)
Balance at end of period			2,151,990
Accumulated other comprehensive income (loss)
Cumulative translation adjustments
Balance at beginning of year			550,501
Net change during the period			38,612
Balance at end of period			589,113
Defined benefit pension plans
Balance at beginning of year			(122	)
Pension liability adjustment			(3,051	)
Balance at end of period			(3,173	)
Non-trading debt securities
Balance at beginning of year			(3,362	)
Net unrealized gain on non-trading debt securities			226
Balance at end of period			(3,136	)
Own credit adjustments
Balance at beginning of year			1,204
Own credit adjustments			(17,069	)
Balance at end of period			(15,865	)
Balance at end of period			566,939
Common stock held in treasury
Balance at beginning of year			(155,093	)
Repurchases of common stock			(18,526	)
Sale of common stock			0
Common stock issued to employees			30,663
Balance at end of period			(142,956	)
Total NHI shareholders’ equity
Balance at end of period			3,834,275
Noncontrolling interests
Balance at beginning of year			147,047
Net change during the period			12,391
Balance at end of period			159,438
Total equity
Balance at end of period			3,993,713

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

Not applicable.

(7) Note with respect to Consolidated Statements of Cash Flows

The following table shows depreciation and amortization for the three months ended June 30, 2025 and 2026.

		Millions of yen
		For the three months ended
		June 30, 2025				June 30, 2026
Depreciation and amortization			15,407				21,715

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3. Supplementary Information

(1) Consolidated Statements of Income – Quarterly Comparatives

		Millions of yen																				% Change				Millions of yen
		For the three months ended																								For the year ended March 31, 2026
		June 30, 2025				September 30, 2025				December 31, 2025				March 31, 2026(A)				June 30, 2026(B)				(B-A)/(A)
Revenue:
Commissions			100,606				105,049				119,204				130,430				128,178				(1.7	)			455,289
Fees from investment banking			38,357				44,554				59,045				58,592				56,236				(4.0	)			200,548
Asset management and portfolio service fees			92,855				102,487				122,664				150,594				162,054				7.6				468,600
Net gain on trading			142,239				171,944				190,742				191,969				230,292				20.0				696,894
Gain on private equity and debt investments			6,330				4,370				1,564				340				564				65.9				12,604
Interest and dividends			649,561				652,830				712,469				654,780				698,543				6.7				2,669,640
Gain (loss) on investments in equity securities			(377	)			4,365				4,488				4,590				6,792				48.0				13,066
Other			127,017				75,614				17,752				21,462				89,049				314.9				241,845
Total revenue			1,156,588				1,161,213				1,227,928				1,212,757				1,371,708				13.1				4,758,486
Interest expense			633,273				645,751				676,173				635,576				684,994				7.8				2,590,773
Net revenue			523,315				515,462				551,755				577,181				686,714				19.0				2,167,713
Non-interest expenses:
Compensation and benefits			186,310				195,079				220,739				227,374				236,764				4.1				829,502
Commissions and floor brokerage			44,778				47,191				53,997				75,891				74,335				(2.1	)			221,857
Information processing and communications			57,164				59,202				63,516				68,557				70,710				3.1				248,439
Occupancy and related depreciation			15,965				17,283				17,853				20,422				18,742				(8.2	)			71,523
Business development expenses			6,992				7,272				9,993				9,422				8,500				(9.8	)			33,679
Other			51,824				52,790				50,436				67,842				66,124				(2.5	)			222,892
Total non-interest expenses			363,033				378,817				416,534				469,508				475,175				1.2				1,627,892
Income before income taxes			160,282				136,645				135,221				107,673				211,539				96.5				539,821
Income tax expense			52,808				40,852				40,675				31,104				55,416				78.2				165,439
Net income			107,474				95,793				94,546				76,569				156,123				103.9				374,382
Less: Net income attributable to noncontrolling interests			2,909				3,715				2,993				2,636				10,562				300.7				12,253
Net income attributable to NHI shareholders			104,565				92,078				91,553				73,933				145,561				96.9				362,129
		Yen																				% Change				Yen
Per share of common stock:
Basic-
Net income attributable to NHI shareholders per share			35.19				31.34				31.21				25.29				49.90				97.3				123.08
Diluted-
Net income attributable to NHI shareholders per share			34.04				30.49				30.19				24.34				48.34				98.6				118.99

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(2) Business Segment Information – Quarterly Comparatives

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

		Millions of yen																				% Change				Millions of yen
		For the three months ended																								For the year ended
		June 30, 2025				September 30, 2025				December 31, 2025				March 31, 2026(A)				June 30, 2026(B)				(B-A)/(A)				March 31, 2026
Net revenue
Business segment information:
Wealth Management			105,796				116,475				132,488				133,147				145,417				9.2				487,906
Investment Management			50,574				60,825				60,906				86,211				98,314				14.0				258,516
Wholesale			261,072				279,183				313,899				308,075				369,097				19.8				1,162,229
Banking			12,845				12,851				13,696				14,526				15,244				4.9				53,918
Subtotal			430,287				469,334				520,989				541,959				628,072				15.9				1,962,569
Other			93,160				44,366				28,107				31,240				53,105				70.0				196,873
Net revenue			523,447				513,700				549,096				573,199				681,177				18.8				2,159,442
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes			(132	)			1,762				2,659				3,982				5,537				39.1				8,271
Net revenue			523,315				515,462				551,755				577,181				686,714				19.0				2,167,713
Non-interest expenses(*1)
Business segment information:
Wealth Management			67,041				70,952				73,988				71,901				74,341				3.4				283,882
Investment Management			29,047				30,114				42,967				68,091				53,327				(21.7	)			170,219
Wholesale			219,164				226,043				251,610				264,845				275,769				4.1				961,662
Banking			9,231				9,671				9,521				11,479				11,608				1.1				39,902
Subtotal			324,483				336,780				378,086				416,316				415,045				(0.3	)			1,455,665
Other			38,550				42,037				38,448				53,192				60,130				13.0				172,227
Non-interest expenses			363,033				378,817				416,534				469,508				475,175				1.2				1,627,892
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes			—				—				—				—				—				—				—
Non-interest expenses			363,033				378,817				416,534				469,508				475,175				1.2				1,627,892
Income (loss) before income taxes
Business segment information:
Wealth Management			38,755				45,523				58,500				61,246				71,076				16.1				204,024
Investment Management			21,527				30,711				17,939				18,120				44,987				148.3				88,297
Wholesale			41,908				53,140				62,289				43,230				93,328				115.9				200,567
Banking			3,614				3,180				4,175				3,047				3,636				19.3				14,016
Subtotal			105,804				132,554				142,903				125,643				213,027				69.5				506,904
Other (*2)			54,610				2,329				(10,341	)			(21,952	)			(7,025	)			—				24,646
Income (loss) before income taxes			160,414				134,883				132,562				103,691				206,002				98.7				531,550
Reconciliation items:
Unrealized gain (loss) on investments in equity securities held for operating purposes			(132	)			1,762				2,659				3,982				5,537				39.1				8,271
Income (loss) before income taxes			160,282				136,645				135,221				107,673				211,539				96.5				539,821

(*1) Includes primarily personnel expenses, occupancy, technology, and professional fees.

(*2) 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																								For the year ended March 31, 2026
		June 30, 2025				September 30, 2025				December 31, 2025				March 31, 2026(A)				June 30, 2026(B)				(B-A)/(A)
Net gain (loss) related to economic hedging transactions			1,067				(166	)			(975	)			(2,866	)			(2,045	)			—				(2,940	)
Realized gain (loss) on investments in equity securities held for operating purposes			5				2,209				1,129				6				1,190				—				3,349
Equity in earnings of affiliates			12,321				12,448				17,642				(5,959	)			10,492				—				36,452
Corporate items			(11,637	)			(15,181	)			(9,630	)			(5,534	)			(15,964	)			—				(41,982	)
Other			52,854				3,019				(18,507	)			(7,599	)			(698	)			—				29,767
Total			54,610				2,329				(10,341	)			(21,952	)			(7,025	)			—				24,646

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(3) Other

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

https://www.nomuraholdings.com/en/company/group/nsc/nsc/main/0112/teaserItems2/0/linkList/0/link/2027_1q.pdf

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