[SCHEDULE 13G/A] Tilly's Inc. SEC Filing

Rhea-AI Filing Summary

Nomura Holdings, Inc. and its subsidiary Nomura Global Financial Products, Inc. report shared beneficial ownership of 850,580 shares of Tilly's, Inc. Class A common stock, representing 3.7% of the outstanding Class A shares based on 22,845,799 shares outstanding as of June 3, 2025. The filing states all voting and dispositive power is shared and that the shares are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer. The report lists issuer and filer addresses and includes a joint filing agreement and a subsidiary exhibit.

Positive

• Transparent disclosure of beneficial ownership (850,580 shares) and percent of class (3.7%)
• Filing affirms passive intent (held in ordinary course, not to influence control), reducing governance concerns

Negative

• None.

Insights

Securities Analyst

TL;DR: Nomura reports a non-control, passive stake of 3.7% (850,580 shares) in Tilly's via a subsidiary.

The filing indicates Nomura Global Financial Products, Inc. beneficially owns 850,580 Class A shares and Nomura Holdings, Inc. is reported as a parent holding company that may be deemed to beneficially own those shares. The position is disclosed as held in the ordinary course of business with shared voting and dispositive power and explicitly not acquired to influence control. At 3.7% of the class, this position is below typical 5% disclosure thresholds for activist or controlling interest concerns and is unlikely to be material to governance or strategic direction based on the facts stated.

Corporate Governance Expert

TL;DR: This is a routine Schedule 13G filing showing passive ownership without control intent.

The statement follows the Schedule 13G format for passive investors and includes the required exhibits (Joint Filing Agreement and Subsidiaries). It reports shared voting and dispositive power through a wholly owned subsidiary, which is properly disclosed. Because the filing affirms ordinary-course holdings and not an intent to influence control, the regulatory and governance implications are limited based on the information provided.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

TILLY'S, INC.

(Name of Issuer)

Class A Common Stock, $0.001 par value per share

(Title of Class of Securities)

886885102

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 886885102

1

Names of Reporting Persons

NOMURA HOLDINGS INC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

JAPAN

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 850,580.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 850,580.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

850,580.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.7 %

12

Type of Reporting Person (See Instructions)

HC

Comment for Type of Reporting Person: (1) Shared voting and dispositive power represents 850,580 shares of Class A Common Stock beneficially owned by Nomura Global Financial Products, Inc. ("NGFP"). NGFP is a wholly owned subsidiary of Nomura Holdings, Inc., which accordingly may be deemed to beneficially own the shares of Class A Common Stock beneficially owned by NGFP. (2) The percent of class is calculated based on 22,845,799 shares of Class A Common Stock outstanding as of June 3, 2025, as reported in the Issuer's quarterly report on Form 10-Q for the fiscal quarter ended May 3, 2025 filed with the SEC on June 5, 2025.

SCHEDULE 13G

CUSIP No. 886885102

1

Names of Reporting Persons

NOMURA GLOBAL FINANCIAL PRODUCTS INC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 850,580.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 850,580.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

850,580.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.7 %

12

Type of Reporting Person (See Instructions)

BD

Comment for Type of Reporting Person: (3) The percent of class is calculated based on 22,845,799 shares of Class A Common Stock outstanding as of June 3, 2025, as reported in the Issuer's quarterly report on Form 10-Q for the fiscal quarter ended May 3, 2025 filed with the SEC on June 5, 2025.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: TILLY'S, INC.
(b)	Address of issuer's principal executive offices: 10 Whatney, Irvine, California, 92618
Item 2.
(a)	Name of person filing: Nomura Holdings, Inc. Nomura Global Financial Products, Inc.
(b)	Address or principal business office or, if none, residence: Nomura Holdings, Inc.: 13-1, Nihonbashi 1-chome, Chuo-ku, Tokyo 103-8645, Japan Nomura Global Financial Products, Inc.: Worldwide Plaza 309 West 49th Street New York, NY 10019
(c)	Citizenship: Nomura Holdings, Inc.: Japan Nomura Global Financial Products, Inc.: Delaware
(d)	Title of class of securities: Class A Common Stock, $0.001 par value per share
(e)	CUSIP No.: 886885102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Items 5-11 of the cover pages are incorporated by reference.
(b)	Percent of class: Items 5-11 of the cover pages are incorporated by reference.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Items 5-11 of the cover pages are incorporated by reference.
	(ii) Shared power to vote or to direct the vote: Items 5-11 of the cover pages are incorporated by reference.
	(iii) Sole power to dispose or to direct the disposition of: Items 5-11 of the cover pages are incorporated by reference.
	(iv) Shared power to dispose or to direct the disposition of: Items 5-11 of the cover pages are incorporated by reference.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit B
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

NOMURA HOLDINGS INC

Signature:	/s/ Samir Patel
Name/Title:	Samir Patel, Managing Director
Date:	08/14/2025

NOMURA GLOBAL FINANCIAL PRODUCTS INC

Signature:	/s/ Samir Patel
Name/Title:	Samir Patel, Authorized Officer
Date:	08/14/2025

Exhibit Information

Exhibit A - Joint Filing Agreement Exhibit B - Subsidiaries

FAQ

How many TLYS shares does Nomura beneficially own?

Nomura beneficially owns 850,580 shares of Tilly's Class A common stock, representing 3.7% of the Class A shares outstanding.

Does Nomura intend to influence control of Tilly's (TLYS)?

No. The filing certifies the shares are held in the ordinary course of business and were not acquired to change or influence control of the issuer.

Which Nomura entities filed the Schedule 13G/A for TLYS?

The filing was made by Nomura Holdings, Inc. and its subsidiary Nomura Global Financial Products, Inc.

What voting and dispositive powers are reported for the shares?

The filing reports 0 sole voting and dispositive power and 850,580 shared voting and dispositive power.

On what share count is the 3.7% calculated?

The percent is calculated using 22,845,799 Class A shares outstanding as of June 3, 2025, per the issuer's quarterly report.