Profile Nomura Group, with its core businesses of the securities and related businesses, is dedicated to providing a broad range of financial services for individual, institutional, corporate and government customers. We offer a diverse line of competitive products and value- added financial and advisory services through the 126 domestic branch offices of Nomura Securities Co., Ltd. and our overseas network that combines offices in 28 countries. Our business activities include investment consultation services for domestic retail investors, securities brokerage services, securities underwriting for domestic and foreign governments and corporations, merger and acquisition and financial advisory services, merchant banking, and asset management for investment trusts and pension funds. 1. This document is produced by Nomura Holdings, Inc. (“Nomura”). Copyright 2002 Nomura Holdings, Inc. All rights reserved. 2. Nothing in this document shall be considered as an offer to sell or solicitation of an offer to buy any security, commodity or other instrument, including securities issued by Nomura or any affiliate thereof. Offers to sell, sales, solicitations to buy, or purchases of any securities issued by Nomura or any affiliate thereof may only be made or entered into pursuant to appropriate offering materials or a prospectus prepared and distributed according to the laws, regulations, rules and market practices of the jurisdictions in which such offers or sales may be made. 3. No part of this document shall be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior written permission of Nomura. 4. The information and opinions contained in this document have been obtained from sources believed to be reliable, but no representations or warranty, express or implied, are made that such informa- tion is accurate or complete and no responsibility or liability can be accepted by Nomura for errors or omissions or for any losses arising from the use of this information. 5. This document contains statements that may constitute, and from time to time our management may make "forward-looking statements" within the meaning of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. Any such statements must be read in the context of the offering materials pursuant to which any securities may be offered or sold in the United States. These forward-looking statements are not historical facts but instead represent only our belief regarding future events, many of which, by their nature, are inherently uncertain and outside our control. Important factors that could cause actual results to differ from those in specific forward-looking statements include, without limitation, economic and market conditions, political events and investor sentiments, liquidity of secondary markets, level and volatility of interest rates, currency exchange rates, security valuations, competitive conditions and size, and the number and timing of transactions. Contents (cid:2) To Our Shareholders and Customers (cid:2) Nomura Group Nomura Group’s Vision and Philosophy Management Structure of NHI 2 5 6 8 (cid:2) Our Businesses Securities Businesses 9 10 20 Research Asset Management Businesses 22 Response to Introduction of Defined Contribution Pension Plans 24 (cid:2) Contributions to Society 26 Nomura Securities Co., Ltd. Domestic Network Nomura Holdings, Inc. Subsidiaries and Affiliates 28 30 Nomura Holdings, Inc. Corporate Data/Board of Directors and Statutory Auditors 33 1 To Our Shareholders and Customers I t gives me great pleasure to present the first corporate report of the new Nomura Group, headed by Nomura Holdings, Inc. (NHI). The essential pur- pose of the report is to describe and explain management’s strategies and policies. On October 1, 2001, The Nomura Securities Co., Ltd. was reorganized as a holding company. Nomura Group, comprising NHI and its domestic and overseas subsidiaries, provides customers with high value-added services and products under a unified group strategy. We seek to consistently grow shareholder value by generating broadly sustained increases in revenues from these services. Management Objectives Through a focus on Japanese customers and products that meet their needs, where business opportunities are great, Nomura Group intends to become a globally competitive financial services group. In seeking to realize our objectives, we rely on four key points of management philosophy. First, we concentrate management resources on securities businesses and other closely related businesses. Second, we provide solutions through the capital markets. Third, we make a major contribution to expanding the role of the capital market-centered financing system in Japan and so help in the country’s eco- nomic recovery. Fourth, we focus on shareholder value, seeking to ensure an average consolidated return on equity (ROE) of 10-15% over the medium to long term. Business Portfolio Our business portfolio consists of Securities Businesses (Domestic Retail and Global Wholesale) and Asset Management Businesses. In Domestic Retail, we are targeting the accumulation of individual financial assets through provision of investment consulting services. In order to meet the increasingly diversified and sophisticated needs of individual investors, we have taken steps to integrate face-to-face services with efficient IT-based services. Customers can have face-to-face consultations at branch offices while also benefiting from such convenient IT facilities as online transactions. In this way, we can enhance our consultation services, and at the same time improve customer satisfaction and the productivity of our Domestic Retail activities. Global Wholesale integrates four business activities: Fixed Income, Equity, Investment Banking and Merchant Banking. The last is a new business, added in October 2001. These four business activities offer borderless financial solutions through the capital markets to corporations and institutional investors. 2 Domestic Retail and Global Wholesale operate in close cooperation. Capitalizing on our broad network of both domestic and overseas customers, we can bring together asset management needs and financing needs on a global basis, and offer a variety of ways to improve corporate value, with the ultimate goal of achieving higher profitability. Nomura Asset Management Co., Ltd. (NAM), the core of our asset management operations, is Japan’s largest company of its kind. NAM provides a wide range of products in the fields of investment trust and advisory services. By continuing to improve our asset management and product development capabilities, we intend to increase the volume of assets under management. The strategic advantage inherent in this ambition is the achievement of a strong, stable source of revenue. Junichi Ujiie Nomura Holdings, Inc. President and Chief Executive Officer Enhancement of the Management System We aim to have a management structure that embodies the twin characteristics of efficiency and propriety. The creation of a holding company structure prompted us to reduce the number of directors from 32 to 12 in order to create a more efficient decision-making structure. The Strategic Management Committee is responsible for formulating group management strategy and allocating management resources, including capital and personnel. In addition, we have established an advisory board as a consultative body to the Strategic Management Committee. This board, made up of top managers of prestigious Japanese global corporations, offers valuable management advice and recommendations. We have set up several mechanisms to strengthen the system of management accountability and transparency. Two of the 12 board directors are outside direc- tors. On the Executive Compensation Committee, responsible for discussing modalities for Nomura Group compensation, outside directors form a majority. The Audit Committee, responsible for enhancement of the internal audit system and promotion of appropriate corporate activities throughout Nomura Group, also has an outside director. 3 Nomura Group’s Social Role We have a clear vision of our social role in broadening the scope of the securities market from a long-term perspective. Hence our sponsorship of lectures on the securities markets in Japan and overseas and our regular educational seminars at branch offices nationwide designed to widen knowledge of the securities business and its products. We are also committed to promoting the long-term invigoration of the market. Here Nomura Group is making a prominent contribution to efforts to overcome excessive reliance on the bank-centered financing system on the part of Japanese corporations and improve the functioning of the country’s capital markets so as to better meet the diverse needs of customers. We believe that these developments are essential for Japan’s economic recovery. Listing on the New York Stock Exchange NHI was listed on the New York Stock Exchange (NYSE) on December 17, 2001. The purposes of the listing are as follows. First, to clearly demonstrate in Japan and overseas that our goal is to become a globally competitive Japanese financial services group. Second, to enhance information disclosure in conformity with the spirit of fair disclosure. Third, to expand our strategic options. Fourth, to strength- en corporate governance. Overall, we see the NYSE as a springboard for further developing our business. As always, we look forward to the continuing support of shareholders, customers and business partners. Junichi Ujiie President and Chief Executive Officer Nomura Holdings, Inc. February 2002 4 Nomura Group Contents (cid:2) Nomura Group’s Vision and Philosophy Vision Philosophy Nomura Group’s Social Role (cid:2) Management Structure of NHI Three Committees Drawing on Outside Perspectives 6 8 Nomura Group 5 Nomura Group Nomura Group’s Vision and Philosophy Nomura Group is a financial services group comprising NHI and its domestic and overseas subsidiaries. We provide customers with high value-added services under a unified group strategy, seeking to consistently grow shareholder value by generating sustained revenues from these services. We identify our core businesses as the securities and other closely related businesses. We concentrate management resources on these areas in order to provide solutions through the capital markets to the asset management and financing needs of cus- tomers. To consistently grow shareholder value, we aspire to be a globally competitive Japanese financial institution by focusing on Japanese customers and products that meet their needs as a first step toward global expansion. We will establish a dominant position in our home market, which has high growth potential, and develop an organization capable of delivering services worldwide. In today’s constantly changing market environment, we seek to ensure an average consolidated return on equity (ROE) of 10-15% over the medium to long term. We pursue a unified management of NHI and its domestic and overseas subsidiaries. In executing our business strategy, we focus on global coordination of product lines rather than individual legal entities. Our business portfolio is composed of Securities Businesses, i.e., Domestic Retail and Global Wholesale, and Asset Management Businesses. Global Wholesale includes Fixed Income, Equity, Investment Banking, and, as of October 2001, Merchant Banking. We allocate capital, human and other management resources to these businesses in a flexible and effective manner, striving to respond promptly and precisely to the diverse needs of our customers within a fast-moving environment. In allocating management resources, we employ Nomura Value Added (NVA), calculated by subtracting the cost of capital from income after tax. Vision Philosophy 6 Nomura Group’s Social Role A key factor in developing a market economy is increasing the number of people that are willing to accept the risks involved in participation in the financial markets. Capital flows are the lifeblood of the economy, and we believe that they best result from deci- sions based on the collective wisdom and experience of as large a number of people as possible rather than on the judgment of a few experts. We strive to broaden the scope of the securities market and promote long-term policies for its invigoration. Specific efforts include the Nomura Asset Management Fair, intended to disseminate knowledge of investment trust products and appreciation of the importance of investment diversification, university lectures on securities mar- kets both in Japan and abroad, seminars at branch offices nationwide, and investment education programs on cable television. We hope to contribute to Japan’s economic recovery by offering solutions through the capital markets to meet the diverse needs of customers, by encouraging an adequate supply and circulation of risk capital, and by helping to develop a healthy securities market in Japan. Business Portfolio Securities Businesses Domestic Retail Asset Management Businesses Asset Management Global Wholesale Fixed Income Equity Investment Banking Merchant Banking 7 Nomura Group Management Structure of NHI Three Committees NHI has three committees: the Strategic Management Committee, Executive Compensation Committee and Audit Committee. Strategic Management Committee The Strategic Management Committee comprises the President and certain direc- tors of NHI. It is responsible for establishing Nomura Group’s business strategy, allocating management resources and developing unified corporate policies. Executive Compensation Committee The Executive Compensation Committee is made up of the President and the two outside directors. It is responsible for considering the compensation of NHI direc- tors and setting compensation modalities for executives of NHI’s subsidiaries. Audit Committee We established the Audit Committee to promote increased corporate propriety across the entire Nomura Group and enhance internal auditing. Drawing on Outside Perspectives We have sought to enhance NHI’s system of corporate governance by appointing two of 12 directors and two of four auditors from outside the company. In addition, an advisory board made up of presidents and directors of prestigious Japanese global corporations was established in March 2001 for the purpose of advising and making recommendations to the Strategic Management Committee. We solicit outside perspectives to help raise management transparency and promote efficient management. Management Structure of Nomura Holdings, Inc. (NHI) (As of October 1, 2001) General Meeting of Shareholders Board of Directors Statutory Auditors Board of Statutory Auditors Audit Committee Executive Compensation Committee Strategic Management Committee President and CEO Advisory Board 8 Our Businesses Contents (cid:2) Securities Businesses 10 Domestic Retail Expand Client Assets and Customer Base Business Model—Combination of Face-to-Face and IT Services Face-to-Face Services Nomura iT Support 21 Product Strategy Global Wholesale Business Strategy Fixed Income Equity Investment Banking Merchant Banking (cid:2) Research 14 20 Development of a Global Research Framework Nomura Securities Financial Research Center (cid:2) Asset Management Businesses Investment Trusts Investment Advisory Business Nomura BlackRock Asset Management Co., Ltd. 22 (cid:2) Response to Introduction of Our Businesses Defined Contribution Pension Plans Support for Plan Implementation (Plan Design) Management Support Trust Services Product Supply Investment Education 24 9 Our Businesses Securities Businesses Our Securities Businesses consist of Domestic Retail and Global Wholesale. Domestic Retail Domestic Retail provides investment consulta- tion services to customers on how to grow their assets over the long term, proposing financial products and investment portfolios that are tailored to their needs with respect to lifestyle, risk tolerance and asset character, as well as market and economic conditions. Expand Client Assets and Customer Base Number of NCMS Accounts (Thousands of accounts) 3,000 2,000 1,000 0 99.3 99.9 00.3 00.9 01.3 01.9 In providing investment consultation services, we consider the diverse needs of our customers while analyzing market and economic conditions. Rather than a single financial product such as stocks, we offer customers a wide range of investment options, from low-risk/low-return investments to high-risk/high-return investments. Despite the downward trend in stock prices from April 2000, we continued to make efforts to gather personal financial assets by focusing on savings-type products such as bond investment trusts. As the graph below shows, customer assets in our custody have grown steadily for some time irrespective of stock price fluctuations. The Nomura Cash Management Service (NCMS), which increases convenience for customers and improves business efficiency, had over 2.69 million accounts as of the end of September 2001. This service provides an automatic fund-sweeping function. When securities and investment trusts are purchased, the customer’s Nomura Money Reserve Fund is automatically debited for the amount of the purchase price. When securities are sold, the proceeds are automatically credited to the customer’s Nomura Money Reserve Fund. This helps customers manage their assets without waste and allows us to improve the efficiency of our settlement processes. 30 25 20 15 10 5 0 10 Retail Client Assets and Nikkei Stock Average Retail Client Assets (Trillions of yen) Nikkei Stock Average (Yen) 42,000 35,000 28,000 21,000 14,000 7,000 0 '00.3 '01.3 85.3 Note: Nikkei Stock Average closing price at year ended March 31. 95.3 90.3 Business Model –— Combination of Face-to-Face and IT Services We provide customers with three ways to access services. They can visit any one of our 126 branch offices nationwide (as of end December 2001) for face-to-face consultation with our representative, they can go online to access IT services such as Home Trade, or they can ring the Call Center for information on a variety of administrative procedures. Drawing on the unique features of each interface, we seek to increase convenience for both high-net-worth customers and those at the asset-building stage. For example, questions about IT services like Home Trade, and address changes and other adminis- trative procedures can be handled through the Call Center, orders for stocks and other financial products can be made through Home Trade, and customers can consult about investments with representatives at branch offices. In turn, we expect to expand our cus- tomer base and increase earnings without increasing the number of personnel. Domestic Retail Business Model IT-related Services Face-to-face Services Call Center Asset Builders High-net-worth Customers Face-to-Face Services Simply offering a complete line of products or delivering high-quality information is not enough to provide the services that customers really need. In providing investment consultation services, the single most important factor is gaining an understanding of the customer’s unique circumstances through conversation, and only then providing direction on how to use our products and information to meet the customer’s individ- ual needs. Our sales representatives across Japan consult with customers to gain a clear understanding of their needs. They provide information and advice on investments to help customers meet their financial goals. To expand our customer base, we will develop a branch strategy based on detailed investigations and analyses of the distribution of customers and their financial assets by region. The opening of the Nerima branch office in July 2001 and the Kokubunji branch office in October of the same year brought the total number of domestic branch offices to 126 as of the end of December 2001. S e c u r i t i e s B u s i n e s s e s R e s e a r c h A s s e t M a n a g e m e n t B u s i n e s s e s D e f i n e d C o n t r i b u t i o n P e n s i o n P a n s l 11 D o m e s t i c R e t a i l l G o b a l l W h o e s a e l R e s p o n s e t o I n t r o d u c t i o n o f Our Businesses Securities Businesses Nomura iT Support 21 Recent developments in IT have allowed us to swiftly exchange large amounts of information with customers. In an effort to enhance customer convenience, we inte- grated Nomura Home Trade, Nomura Telephone Answer, Nomura Stock Price Dial, and other services that use IT into Nomura iT Support 21. We are also expanding ATM partnerships with a variety of financial institutions. Nomura Home Trade Nomura Home Trade is an online service that plays a key role in our IT services. Online accounts surpassed 770,000 as of the end of September 2001, representing a top 31% share of the market. We ensure the highest level of security in the world, and provide customers with the ability to trade online (e.g., place buy/sell orders for stocks and investment trusts) whenever they please. Customers also have access to a variety of Nomura information. Customers may try out Nomura Home Trade and other IT services at the Demonstration Corners in some branch offices. Demonstration Corner Major Services of Nomura Home Trade (cid:3) Trading of stocks, convertible bonds and investment trusts (cid:3) Investment information, including our research reports (cid:3) Provision of current status reports on asset portfolios, investments and transactions Nomura Home Trade (Online trading accounts) (Thousands of accounts) 900 600 300 0 99.3 99.9 00.3 00.9 01.3 01.9 Nomura Telephone Answer/Nomura Stock Price Dial Nomura Telephone Answer provides a wide range of free automated voice services. Customers can place orders for stocks and investment trusts such as Nomura Money Management Fund (MMF), and check account balances and stock prices. This service can be accessed from public telephones and cellular phones. Nomura Stock Price Dial is an automated voice recognition service that allows customers to check current stock prices over the phone by simply naming the stock. Automated Teller Machines (ATMs) Customers can use a Nomura ATM to withdraw or deposit funds free of charge, including Sundays and holidays. We are working to enhance customer convenience by expanding our ATM network through partnerships. Customers can now access their Nomura accounts from postal savings ATMs, bank ATMs, convenience store ATMs and similar. When there is no Nomura Securities branch office nearby, customers can use the ATMs of our business partners to withdraw and, in most cases, deposit funds in their Nomura accounts. Nomura Call Center Nomura Call Center serves as a support system for our face-to-face and online securities trading services. Customers can request the following: (cid:3) Technical support for using Nomura Home Trade (cid:3) Basic administrative services, including name and address changes (cid:3) Brochures for investment trusts and other information 12 Aggregation Services It is important for our customers to have a complete grasp of their own assets under man- agement. We use the latest aggregation technology and provide the following services in order to enhance customers’ convenience. (cid:3) Display of account balances at multiple financial institutions in a single list, making it easy to see the overall balance of assets. (cid:3) Single display of only the portions of multiple websites that customers require. (cid:3) E-mail communication of information on investment trust base prices, seminars, stock markets and other useful material on asset management. Product Strategy In a long-term effort to introduce securities products as personal financial assets, we offer products tailored to the diverse needs of customers with respect to life plans, asset character and other factors. Our Global Wholesale and Asset Management operations offer an extensive product line on a stable basis. In this way, we can offer a portfolio optimized to the investment needs of customers, creating an appropriate combination of products from low risk/low return to high risk/high return. Investment Trusts A product combination that adequately achieves asset diversification is an essential part of providing proper asset management. Investment trusts are an effective means of diversifying investments. We handle a wide assortment of investment trusts, ranging from products that focus on principal safety and liquidity such as our Money Reserve Fund (MRF) and MMF to products that seek high returns like stock investment trusts. We position investment trusts as core products in our asset management business. Variable Annuity Insurance Risk/Return Profile Margin Transaction Individual Stock Stock Investment Trust Foreign Currency Bond J-REIT R e t u r n Yen Bond Fund Yen Bond MRF Bond Investment Trust Government Bond Risk We began offering variable annuity insurance in October 2001. With growing concern about life planning as a result of Japan’s declining birth rate and aging population, and the introduction of defined contribution pension plans, the need to prepare for one’s own future is expected to increase in the future. We recommend variable annuity insurance as a product that can meet the long-term individual needs of our customers. With approxi- mately 5,000 qualified sales representatives, we are looking to expand this service by actively consulting with customers about these products. S e c u r i t i e s B u s i n e s s e s R e s e a r c h A s s e t M a n a g e m e n t B u s i n e s s e s D e f i n e d C o n t r i b u t i o n P e n s i o n P a n s l 13 D o m e s t i c R e t a i l l G o b a l l W h o e s a e l R e s p o n s e t o I n t r o d u c t i o n o f Our Businesses Securities Businesses Global Wholesale The integrated business approach of Global Wholesale allows us to provide more customer- oriented solution-finding services that transcend product and business lines. The competitive edge provided by such integration should bring excellent returns when the Japanese economy recovers. Business Strategy Business Model During the creation of the bubble economy in Japan in the late 1980s, large amounts of assets were allocated to unprofitable businesses, preventing them from being used efficiently. Since the collapse of the bubble a decade ago, many Japanese companies have been struggling to overcome the problems brought by such misallocation. Until recently, the capital markets were providing financial solutions relating to only a limited part of the balance sheet. Such solutions include equity and debt underwriting, asset management-related brokerage, and the underwriting and trading of cross-shareholdings. As a result of ongoing deregulation, including enactment of the Corporate Separation Law and other legislation concerning corporate reorganization, and development of new financing techniques, the capital markets are becoming more important in the implementation of measures designed to restructure the entire balance sheet. We aim to expand business oppor- tunities and profit by providing comprehensive resolutions to balance sheet issues through integrated Global Wholesale operations that go beyond the organization and products of Fixed Income, Equity, Investment Banking and Merchant Banking. Total Solution Services of Global Wholesale Fixed Income Equity Company's B/S Asset Management Securitization J-REIT Assets Liabilities Underwriting Advanced Redemption Liquidation of Credit Unwinding of Cross-shareholdings Reorganization of Group Companies Equity Retirement Benefit Trusts Cancellation of Own Stock Investment Banking Merchant Banking 14 Fixed Income Mark-to-Market Accounting Opens New Business Opportunities In the area of bond trading, we maintain high shares of Japanese Government Bond auctions and secondary bond trading in Japan. Drawing on our global network, we trade JGBs, corporate and other domestic bonds as well as U.S. Treasury and other foreign bonds both within Japan and abroad. We also provide independent price information for a large number of bonds. With the introduction in April 2001 of mark-to-market accounting in Japan for unlisted bonds, we are confident that our market-making capability and ten- dering service contribute significantly to the bond investments of customers, enhances our presence in the bond market and expands business opportunities. In the area of online trading, our Bond Navigator website provides a variety of bond-related services to institutional investors. Nomura’s Share of JGB Auctions Nomura’s Share of Secondary Trading Nomura 16% Nomura 16% Six months ended September 30, 2001 Source: Nomura Six months ended September 30, 2001 Source: Nomura Structured Products From the perspective of efficient financing and effective use of assets, demand for finance through securitization and issuance of asset-backed securities is increasing. This allows corporations to reduce interest-bearing liabilities, and property and equipment ownership costs through liquidation of such assets as accounts receiv- able. At the same time, institutional investors, unable to generate high returns from conventional low-risk products due to low interest rates, are attracted to such structured products. In light of these circumstances, we are looking to strengthen our organization by positioning structured products as a core product alongside conventional bonds. Our entire global network is working together to develop and market these products. Our efforts have resulted in the securitization of GNMA project loans, re-performing mortgage loans and non-recourse commercial mortgage loans in Japan. S e c u r i t i e s B u s i n e s s e s R e s e a r c h A s s e t M a n a g e m e n t B u s i n e s s e s D e f i n e d C o n t r i b u t i o n P e n s i o n P a n s l 15 D o m e s t i c R e t a i l l G o b a l l W h o e s a e l R e s p o n s e t o I n t r o d u c t i o n o f Our Businesses Equity Nomura’s Share of Off-Floor/Off- Exchange Stock Trading in Japan Nomura 19% Six months ended September 30, 2001 Source: Nomura Securities Businesses Our global equity sales and trading activities benefit from our dual franchise, consisting of a large retail customer base in Japan and a global institutional customer base. We focus on transactions driven by customer order flows, and integrating those order flows globally enables us to execute large-size orders smoothly and efficiently. Global Integration of Order Flows Using these globally integrated customer order flows, we can both reduce risk and increase profit. In recent years, many Japanese corporations have accelerated their liquidation of cross-shareholdings of other Japanese corporations. Responding to these circumstances, we developed a system capable of smoothly executing even a large volume of trading orders without seriously affecting the market by drawing on a broad base of individual and corporate customers both in Japan and abroad, and by applying our risk management and trading capabilities. We continue to secure a high share of off-floor and off-exchange transactions, which are frequently used to execute large volume trades of institutional investors. Trading Room Investment Banking We provide a broad range of investment banking services, including underwriting, financial advisory and other services. Underwriting We continue to strengthen our placement power by broadening our domestic retail customer base and our global institutional customer base, and to improve our ability to structure offerings in a timely manner to match issuers’ particular needs and investors’ demand. We have sponsoring relationships with about 60% of Japan’s listed and registered companies. Thirty-nine of our domestic branch offices have corporate finance teams that maintain close contacts with local corporations on investment banking matters. As a result, during the period from April 1, 2001 to 16 September 30, 2001, we lead-managed 54 out of the 212 Initial Public Offerings (IPOs) made on Japan’s stock exchanges and 23 out of the 90 IPOs made on Japan’s OTC market. In addition, we are the leading underwriter in Japan of fixed income securities issued by public corporations, municipalities and corporate issuers, as well as foreign public and private issuers and supranationals. Nomura’s Underwriting Shares IPOs of Japanese Equities Japanese Corporate Bonds Samurai Bonds Primary and Secondary Offerings of Japanese Equities Nomura 40% Nomura 17% Nomura 19% Nomura 33% Six months ended September 30, 2001 Source: Nomura Full-credit base Six months ended September 30, 2001 Source: Nomura Full-credit base Six months ended September 30, 2001 Source: Thomson DealWatch Full-credit base Six months ended September 30, 2001 Source: Thomson DealWatch Full-credit base M&A and Financial Advisory Services Ongoing deregulation and an increase in corporate restructurings have resulted in a growing demand for merger and acquisition and financial advisory services. We acted as financial advisor to Vodafone Group in its successful tender offer for JR EAST’s equity stake in Japan Telecom. In Thomson Financial’s ranking of advisors for completed M&A deals involving Japanese companies, Nomura placed second in terms of total value. M&A Ranking (Jan.-Sep. 2001)* Rank Advisor Amount US$ Billion Number of Deals 1 2 3 4 5 Goldman Sachs & Co Nomura Group JP Morgan Daiwa Securities SMBC Merrill Lynch & Co Inc 87.6 55.6 49.1 48.0 31.3 18 45 17 25 8 *Completed Mergers and Acquisitions: Any Japanese involvement. League table based on rank value. *Source: Thomson Financial S e c u r i t i e s B u s i n e s s e s R e s e a r c h A s s e t M a n a g e m e n t B u s i n e s s e s D e f i n e d C o n t r i b u t i o n P e n s i o n P a n s l 17 D o m e s t i c R e t a i l l G o b a l l W h o e s a e l R e s p o n s e t o I n t r o d u c t i o n o f Our Businesses Securities Businesses Real Estate Investment Banking The U.S. market for real estate investment trusts (REITs) already exceeds US$130 billion (approximately ¥17 trillion) as of end 2000. In Japan, a revision of the Investment Trust Law in November 2000 opened the possibility of creating invest- ment trusts on underlying investments other than marketable securities, including real estate. In November 1999, in anticipation of the legal changes, we established two subsidiaries in Japan for the purpose of developing real estate investment banking business. We acted as lead manager in listing the Office Building Fund of Japan, Inc. (a J-REIT) on the Tokyo Stock Exchange in September 2001. Securitization Securitization is the issuance of securities backed by assets such as leases and loans. For the issuer, this results in effective management of borrowed funds and the risk of holding assets. For investors, it expands the range of investment options. We established the Structured Products Department in May 2001 to improve our securitization services, and are now working on securitization projects for a variety of assets. Merchant Banking We added Merchant Banking to Global Wholesale in October 2001 as a distinct busi- ness line. This business will invest Nomura’s own capital to assist corporate reorganiza- tions. We are now working to enhance risk management in this business, and expect to reap maximum benefit when the Japanese economy recovers. Principal Finance In Europe we are active in the principal finance business. The focus of this business is to acquire under-performing, misunderstood or challenging businesses, which generally are asset-backed and offer downside protection through stable cash flows, but have significant upside. Value is generated through fundamentally changing strategy, hiring and empowering new management, and achieving operational efficiencies. The investment aim is capital appreciation, which we expect to realize after a three to seven-year holding period, although we have exited some investments for significant returns after shorter periods. 18 In Japan, we established Nomura Principal Finance Co., Ltd. (NPF) in July 2000. Drawing on the experience and expertise gained overseas, the company started investing in Japanese companies with stable cash flow and future growth prospects. NPF has thus far been successful in acquiring management rights to medium-sized companies and in tender offers for companies listed on the OTC market. The company will continue to focus on the acquisition of new projects. Strategic Alliance with Thomas Weisel Partners As part of an effort to strengthen our Global Wholesale activities, in October 2001 we concluded a strategic alliance agreement with Thomas Weisel Partners (TWP) of the United States. By combining the strengths of TWP with our own extensive customer network in Japan, we hope to expand our investment bank- ing services, including advisory services for cross-border mergers and acquisitions between Japan and the U.S., enhance our equity research capabilities, and increase our principal investment business through TWP’s investment funds. Thomas Weisel Partners Established in 1999, TWP is a research-driven merchant bank involved in investment banking, institutional brokerage, private client services, private equity investing and asset management. TWP focuses exclusively on telecommunications, media, technology, health care and other growth sectors of the economy. It has over US$2.2 billion in private equity funds under management. TWP has approximately 750 employees (as of end September 2001) working in its San Francisco headquarters and offices in New York, Boston, Menlo Park and London. S e c u r i t i e s B u s i n e s s e s R e s e a r c h A s s e t M a n a g e m e n t B u s i n e s s e s D e f i n e d C o n t r i b u t i o n P e n s i o n P a n s l 19 D o m e s t i c R e t a i l l G o b a l l W h o e s a e l R e s p o n s e t o I n t r o d u c t i o n o f Our Businesses Research Research is the foundation of the securities business, supporting all products and services. Nomura Group organizes its research activities within a global framework, all the better to provide high-quality information. Development of a Global Research Framework With cross-border capital movements and globalized corporate operations now day-to- day phenomena, it has become less meaningful to view companies in a national con- text. There is also a heightened tendency for stocks in the same sectors to move in uni- son internationally. Fewer and fewer investment decisions are based on the nationality of companies and trading markets; rather, the key factor is global comparison of corpo- rate values by sector. Parallel to this development, there is a greater need than in the past to present attractive overseas investment opportunities to Japanese investors. We have taken steps to match our research organization to the scenario described above. Formerly, we took a region by region approach in our analyses of corporations and formulation of investment strategies. However, in order to enhance our global research framework, we have replaced this approach with corporate research focused on global comparison within the same sector. Collaboration between analysts is conducted flexi- bly, with global teams for each research project. Research results are distributed simul- taneously in Japanese and English in accordance with the compliance regulations of the various regions. With regard to quantitative research, we are creating an optimal model that accom- modates the best financial techniques to the particular needs of institutional investors throughout the world. We believe that by providing high-value information relating to equity, debt and investment operations we can contribute to the overall efficiency of the world’s financial and capital markets. 20 Nomura Securities Financial Research Center The research activities of the Financial Research Center are conducted by four depart- ments, namely Equity Research, Investment Strategy, Quantitative Research and Investment Banking Research. The Center’s analysts rank consistently highly in polls published by Nikkei Kinyu Shimbun and Institutional Investor. In an effort to strengthen our response to global research and compliance, for which investor needs have been increasing in recent years, we set up a Corporate Office in October 2001. (cid:2)Equity Research Department (Sector Analysts) This department has a staff complement of approximately 120, including 50 sector ana- lysts covering 630 companies. In terms of total market capitalization, it covers 85% of the First and Second Sections of the Tokyo Stock Exchange and the OTC market. In addition to analyses of companies’ financial statements, visits to plants, stores, etc., and interviews with management, the Equity Research Department carries out research on overseas subsidiaries and foreign competitors. Investment recommendations are deliv- ered to investors in the form of approximately 3,500 Morning Meeting Memos and 300 reports each year. (cid:2)Investment Strategy Department (Strategists) This department analyzes the macroeconomies of different countries and international capital flows, and makes investment recommendations on the stock markets of differ- ent countries based on the performance forecasts of analysts in the Equity Research Department. In the monthly journal Japan Stock Investment Strategies, Nomura Securities offers views on Japanese stocks, taking into account the macroeconomic environment, industry trends, corporate profitability, and the supply/demand situation. The department also publishes regular reports on the international diversification of investments, trends in hedge funds, and U.S., European and Asian stock markets. (cid:2)Quantitative Research Department (Quantitative Analysts) This department makes investment recommendations derived from quantitative analy- sis. The department is developing dialogs with investors, including pension funds, and research institutions, and provides leading-edge information on financial engineering technology. Current activities include the classification by sector of not only Japanese stocks but also stocks from the world’s other major markets, and efforts to find appro- priate valuations. As global investors increasingly require sector-by-sector analysis, improving the accuracy of international comparisons in quantitative analysis is an ongoing preoccupation of this department. (cid:2)Investment Banking Research Department (Investment Analysts) This department supports Nomura Securities’ investment banking operations. Its key functions relate not only to financing and conventional asset management, but also to corporate restructuring, assisting corporations to make the most efficient use of their assets, and making recommendations on corporate alliances and mergers and acquisi- tions. It is not unusual for this process to extend across national borders. Analysts belonging to this division therefore require in-depth knowledge of relevant legal, accounting and taxation regulations. S e c u r i t i e s B u s i n e s s e s R e s e a r c h A s s e t M a n a g e m e n t B u s i n e s s e s D e f i n e d C o n t r i b u t i o n P e n s i o n P a n s l 21 D o m e s t i c R e t a i l l G o b a l l W h o e s a e l R e s p o n s e t o I n t r o d u c t i o n o f Our Businesses Asset Management Businesses In Japan, the need for asset management services is growing fast against a background of concern about personal financial security, including the adequacy of pensions. The asset management businesses of Nomura Group center on Nomura Asset Management Co., Ltd. (NAM). Investment Trusts Over the last few years, Japan’s investment trust business has experienced a definite structural change, characterized by a net cash inflow into stock investment trusts, despite massive fluctuations in the stock market. With the introduction of defined contribution pension plans, this business seems certain to expand significantly. Largest Balance of Assets Under Management in Investment Trusts in Japan The outstanding balance of assets under management in NAM’s public investment trusts as of the end of September 2001 was ¥2.4 trillion in stock investment trusts and ¥12.9 trillion in bond investment trusts. The total of ¥15.2 trillion placed NAM in top place in the domestic market, and the company expects its assets under management to increase steadily as demand grows. Assets under Management in NAM’s Public Investment Trusts (Trillions of yen) Assets under Management in ETFs Nomura Asset Management Co., Ltd. (Head Office) Nomura 79% As of end November 2001 Source: Nomura 18 12 6 0 99.3 22 99.9 00.9 00.3 01.3 01.9 Bond investment trusts Stock investment trusts Wide Product Lineup NAM offers a comprehensive product lineup, extending from Nomura MMF, bond investment trusts and other low risk/low return products to high risk/high return products such as stock investment trusts. In an attempt to fulfill the diversifying needs of our customers, we are con- stantly developing and launching new products. In July 2001, we introduced Exchange Traded Funds (ETFs) in the form of a TOPIX-linked fund listed on the Tokyo Stock Exchange and a Nikkei 225-linked fund listed on the Osaka Securities Exchange. As of the end of November 2001, our share of assets under management in Japanese ETFs was approximately 80%. In August, we launched a Fund of Funds called “My Story,” enabling small investors to spread their investments over various investment trusts. Investment Advisory Business The investment advisory business, including the management of pension funds, continues to expand due to ongoing deregulation. Plans to expand the role of the private sector in the management of public funds will serve to raise the size of Japan’s investment advisory assets well beyond its current level of close to ¥100 trillion. The outstanding balance of assets for which NAM is contracted to provide invest- ment advice was ¥4.4 trillion as of the end of September 2001, and the balance of domestic pension fund assets for which NAM acts as advisor was ¥3.5 trillion as of the end of June 2001, putting NAM among the leaders in the Japanese market. Nomura BlackRock Asset Management Co., Ltd. Nomura BlackRock Asset Management is an investment advisory company established in April 1999 as a joint venture between Nomura Asset Management Co., Ltd. and The BlackRock Co., Inc. of the United States. BlackRock uses world-leading risk manage- ment technology, and is rated highly in the U.S., particularly for bond management. We market BlackRock’s management products and services in Japan on an exclusive basis, and Nomura BlackRock Asset Management provides investment advisory services to institutional investors such as financial institutions and pension funds. As of the end of September 2001, the outstanding balance of assets under management was approxi- mately ¥640 billion. S e c u r i t i e s B u s i n e s s e s R e s e a r c h A s s e t M a n a g e m e n t B u s i n e s s e s D e f i n e d C o n t r i b u t i o n P e n s i o n P a n s l 23 D o m e s t i c R e t a i l l G o b a l l W h o e s a e l R e s p o n s e t o I n t r o d u c t i o n o f Our Businesses Response to Introduction of Defined Contribution Pension Plans Japan’s Law of Defined Contribution Pension Plan became effective on October 1, 2001, marking the start of pension plans whose benefits fluctuate in accordance with the results of investment decisions as well as general market conditions. Based on accumulated know-how in the investment trust and investment advisory businesses, and a well-established presence in the corporate employees’ investment plan market, we are utilizing Nomura Group’s collective strength to provide a wide variety of services relating to defined contribution pension plans, ranging from support for plan implementation to supply of products. Support for Plan Implementation (Plan Design) In providing plan design and support for implementation of defined contribution pension plans, Nomura Securities Co., Ltd. acts as a relationship manager with corpo- rations, and Nomura-IBJ Investment Services Co., Ltd. and Nomura Funds Research and Technologies Co., Ltd. (NFR&T), established as a joint venture between NHI and Nomura Research Institute, Ltd., propose system designs optimally suited to the particular situations of institutional customers. Response to Introduction of Defined Contribution Pension Plans Plan Design Trust Services Product Supply Relationship Manager/ Investment Education Product Selection Provision of Information to Subscribers Record-keeping Nomura-IBJ Investment Services Co., Ltd. Nomura Funds Research and Technologies Co., Ltd. Nomura DC Planning Co., Ltd. Japan Investor Solutions and Technologies Co., Ltd. 24 Management Support (cid:2)Product Selection Based on management assessments and analyses of investment trusts carried out by NFR&T, Nomura DC Planning Co., Ltd. (NDCP) makes product selections and offers proposals from a neutral standpoint. We conduct quality control by making quantita- tive and qualitative assessments, analyses and product selections from a wide range of products provided by a variety of management companies. (cid:2)Provision of Information to Subscribers As the key player and management entity in this business, NDCP provides explanations of products and information on investment trust prices through cooperation with The Nomura Fundnet Securities Co., Ltd. which operates call centers. (cid:2)Record-keeping Japan Investor Solutions and Technologies Co., Ltd. (JIS&T) provides regular reports and record administration services for all subscribers. Trust Services Product Supply Investment Education Nomura Trust and Banking Co., Ltd. provides administration services, including execution of trades on customer orders received through JIS&T. Nomura Asset Management sets up and manages investment trusts to help subscribers accumulate assets over the long term. It strives to improve results through in-depth risk analysis of a wide range of investment trusts. Nomura Securities Co., Ltd. provides investment education through websites, publica- tions, nationwide seminars and other tools for subscribers and companies that intend to start defined contribution pension plans. S e c u r i t i e s B u s i n e s s e s R e s e a r c h A s s e t M a n a g e m e n t B u s i n e s s e s D e f i n e d C o n t r i b u t i o n P e n s i o n P a n s l 25 D o m e s t i c R e t a i l l G o b a l l W h o e s a e l R e s p o n s e t o I n t r o d u c t i o n o f Contributions to Society Sponsored Lectures It is important to provide the young people who will eventually be responsible for the development of Japan’s economy with the opportunity to come into contact with the world of finance. Nomura Group organizes lectures by directors and managers in some 80 universities throughout Japan on the significance and operations of the securities business. Nomura International Cultural Foundation Nomura Group supports a wide range of cultural activ- ities in Japan and overseas via, among others, the Nomura International Cultural Foundation. The Foundation was established on May 22, 1990. Its aim is “To provide assistance for the education of young artists, to support international exchange activities in art and culture, and to provide scholarships for foreign students studying in Japan, thereby promoting the development of international human resources and fostering international understanding as well as contributing to the promotion of Japan’s art and culture.” The most important event supported by the Foundation is the Pacific Music Festival (PMF), held over four weeks each summer in the Sapporo Art Park. PMF is an International Music Education Festival established in 1990 at the suggestion of the late Leonard Bernstein. More than 1,000 young musicians have already trained at this festival, and many of its graduates are currently engaged as performers and conductors throughout the world. In December 2000, in recognition of their continued support of PMF since its establishment, Nomura Securities and the Nomura Cultural Foundation, together with other sponsors, were awarded the Mecenat Award for Outstanding Cultivation of the Arts (1999) by the Association for Corporate Support of the Arts. Also, in March 2001 PMF was awarded the 10th Culture Life Award Grand Prix by the Japan Fashion Association for its work in promoting the role of culture as a contributor to a genuinely affluent society. PMF International Music Education Festival 2001 26 World Cup Soccer Nomura Securities Co., Ltd. is an official supplier in Japan to the 2002 FIFA World CupTM, to be co-hosted by Japan and Korea from May 31 to June 30. The tourna- ment is expected to attract a total world audience of some 30 billion fans. Nomura Securities hopes that the tournament will provide a fillip to the Asian and world economies. Nomura America Foundation The Nomura America Foundation was established in the State of New York in March 1994, since when it has generally contributed funds to charitable organizations that are of interest to Nomura employees. For example, over the past three years the Foundation has given money to educational institutions across the United States as well as to child welfare and commu- nity service organizations. Following the tragic events of September 11, 2001, Nomura employees worldwide have donated money to the Foundation for on-going relief efforts. The Foundation has distributed funds to families of fire fighters and police officers who were killed in the disaster. Lectures at Oxford University Nomura International plc in London sponsors the Nomura Centre for Quantitative Finance at Oxford University. The Centre has as its aims to promote research in mathematics and finance, with a special emphasis on approaches that combine practical relevance with mathematical interest. As part of the Centre’s activities, leading authorities in the fields of financial engineering and mathematical analysis present an annual lecture. The first lecturer was Nobel laureate Robert Merton of Harvard University, who spoke on option pricing theory. The purpose of the lectures is to encourage the development of exceptional talent in specialized fields relating to advanced derivatives modeling. 27 Nomura Securities Co., Ltd. Domestic Network (As of December 31, 2001) (cid:2)Hokkaido (cid:2)Tohoku (cid:2)Kanto Office Name Head Office Asahikawa Branch Office Hakodate Branch Office Kushiro Branch Office Sapporo Branch Office Akita Branch Office Aomori Branch Office Fukushima Branch Office Koriyama Branch Office Morioka Branch Office Sendai Branch Office Yamagata Branch Office Aobadai Branch Office Atsugi Branch Office Chiba Branch Office Fujisawa Branch Office Funabashi Branch Office Hiratsuka Branch Office Kashiwa Branch Office Kawagoe Branch Office Kawaguchi Branch Office Kawasaki Branch Office Matsudo Branch Office Mito Branch Office Omiya Branch Office Saitama Branch Office Shinyurigaoka Branch Office Takasaki Branch Office Tama Plaza Branch Office Tokorozawa Branch Office Totsuka Branch Office Tsuchiura Branch Office Urawa Branch Office Utsunomiya Branch Office Yokohama Branch Office Yokohama-eki Nishiguchi Branch Office Yokosuka Branch Office Telephone Address 81(3)3211-1811 1-9-1, Nihonbashi, Chuo-ku, Tokyo 103-8011 81(166)23-1181 81(138)26-8111 81(154)23-1171 81(11)261-7211 1 Migi, 9 Gojo-dori, Asahikawa-shi, Hokkaido 070-0035 7-15, Wakamatsu-cho, Hakodate-shi, Hokkaido 040-0063 13-1, Kitaodori, Kushiro-shi, Hokkaido 085-0015 4, Kitasanjo-nishi, Chuo-ku, Sapporo-shi, Hokkaido 060-0003 81(18)831-2111 81(17)723-4111 81(24)522-2111 81(24)923-8711 81(19)653-5000 81(22)221-3111 81(23)622-1313 81(45)985-1171 81(46)224-8666 81(43)227-2161 81(466)25-1311 81(47)433-2211 81(463)21-2111 81(471)63-2011 81(49)225-5151 81(48)256-3811 81(44)233-6751 81(47)362-1221 81(29)224-5231 81(48)641-8111 81(48)645-8100 81(44)953-6511 81(27)323-9111 81(45)902-1122 81(42)923-3811 81(45)881-1181 81(298)21-8811 81(48)833-1881 81(28)636-2181 81(45)641-2101 81(45)311-1671 81(468)23-2550 4-2-7, Nakadori, Akita-shi, Akita 010-0001 2-6-29, Shin-machi, Aomori-shi, Aomori 030-0801 4-1, O-machi, Fukushima-shi, Fukushima 960-8041 2-5-12, Ekimae, Koriyama-shi, Fukushima 963-8002 2-2-18, Odori, Morioka-shi, Iwate 020-0022 2-1-1, Chuo, Aoba-ku, Sendai-shi, Miyagi 980-8730 1-7-30, Toka-machi, Yamagata-shi, Yamagata 990-0031 2-6-1, Aobadai, Aoba-ku, Yokohama-shi, Kanagawa 227-0062 2-2-20, Naka-cho, Atsugi-shi, Kanagawa 243-0018 1-14-13, Fujimi, Chuo-ku, Chiba-shi, Chiba 260-0015 1-5-10, Kugenumaishigami, Fujisawa-shi, Kanagawa 251-0025 2-1-33, Hon-cho, Funabashi-shi, Chiba 273-0005 2-14, Beniya-cho, Hiratsuka-shi, Kanagawa 254-0043 1-4-29, Kashiwa, Kashiwa-shi, Chiba 277-8769 105, Wakita-machi, Kawagoe-shi, Saitama 350-1122 3-10-1, Sakae-cho, Kawaguchi-shi, Saitama 332-0017 5-2, Higashida-cho, Kawasaki-ku, Kawasaki-shi, Kanagawa 210-8604 1281-29, Matsudo, Matsudo-shi, Chiba 271-0092 1-3-37, Miya-machi, Mito-shi, Ibaraki 310-0015 1-24, Daimon-cho, Saitama-shi, Saitama 330-0846 2-155, Sakuragi-cho, Saitama-shi, Saitama 331-0852 1-5-3, Kamiaso, Aso-ku, Kawasaki-shi, Kanagawa 215-0021 58-1, Yashima-cho, Takasaki-shi, Gunma 370-0849 5-1-2, Utsukushigaoka, Aoba-ku, Yokohama-shi, Kanagawa 225-0002 10-19, Hiyoshi-cho, Tokorozawa-shi, Saitama 359-1123 489-1, Kamikurata-cho, Totsuka-ku, Yokohama-shi, Kanagawa 244-0816 1-10-8, Kawaguchi, Tsuchiura-shi, Ibaraki 300-0033 2-13-8, Takasago, Saitama-shi, Saitama 336-0011 2-1-1, Babadori, Utsunomiya-shi, Tochigi 320-0026 4-52, Onoe-cho, Naka-ku, Yokohama-shi, Kanagawa 231-0015 1-5-10, Kitasaiwai, Nishi-ku, Yokohama-shi, Kanagawa 220-0004 1-9, Odaki-cho, Yokosuka-shi, Kanagawa 238-0008 (cid:2)Tokyo metropolitan area Fuchu Branch Office 81(42)369-8111 Gotanda Branch Office 81(3)3491-9101 Hachioji Branch Office 81(426)46-3811 81(3)3983-1111 Ikebukuro Branch Office Ikebukuro Metropolitan Plaza Branch Office 81(3)3988-1181 81(3)3718-3371 Jiyugaoka Branch Office 81(3)3738-5101 Kamata Branch Office 81(422)22-8181 Kichijoji Branch Office 81(3)3657-1141 Koiwa Branch Office 81(42)328-6011 Kokubunji Branch Office 81(42)725-2111 Machida Branch Office 81(3)3769-6651 Mita Branch Office 81(3)3994-7711 Nerima Branch Office 81(3)3392-6011 Ogikubo Branch Office 81(3)3774-1181 Omori Branch Office 81(3)3482-2011 Seijo Branch Office 81(3)3882-8411 Senju Branch Office 81(3)3400-7111 Shibuya Branch Office 81(3)3572-0111 Shinbashi Branch Office 81(3)3205-1001 Shinjuku Branch Office 81(3)3342-1281 Shinjuku-eki Nishiguchi Branch Office 81(3)3348-8211 Shinjuku Nomura Building Branch Office 81(42)524-1111 Tachikawa Branch Office 81(3)3708-1811 Tamagawa Branch Office 81(3)3211-2411 Tokyo Branch Office 81(3)3583-2301 Toranomon Branch Office 81(3)3831-9211 Ueno Branch Office 1-8-1, Fuchu-cho, Fuchu-shi, Tokyo 183-8691 1-5-1, Nishi-Gotanda, Shinagawa-ku, Tokyo 141-0031 11-6, Asahi-cho, Hachioji-shi, Tokyo 192-0083 1-27-10, Minami-Ikebukuro, Toshima-ku, Tokyo 171-0022 1-11-1, Nishi-Ikebukuro, Toshima-ku, Tokyo 171-0021 2-10-9, Jiyugaoka, Meguro-ku, Tokyo 152-0035 7-46-7, Nishi-Kamata, Ota-ku, Tokyo 144-0051 2-2-16, Kichijoji-honcho, Musashino-shi, Tokyo 180-0004 7-22-6, Minami-Koiwa, Edogawa-ku, Tokyo 133-0056 2-12-2, Hon-cho, Kokubunji-shi, Tokyo 185-0012 6-3-9, Haramachida, Machida-shi, Tokyo 194-0013 5-20-14, Shiba, Minato-ku, Tokyo 108-0014 5-17-10, Toyotama-kita, Nerima-ku, Tokyo 176-0012 1-8-8, Kamiogi, Suginami-ku, Tokyo 167-0043 2-5-10, Sanno, Ota-ku, Tokyo 143-0023 5-8-1, Seijo, Setagaya-ku, Tokyo 157-0066 2-18, Senjukotobuki-cho, Adachi-ku, Tokyo 120-0033 1-14-16, Shibuya, Shibuya-ku, Tokyo 150-0002 1-9-6, Shinbashi, Minato-ku, Tokyo 105-0004 5-17-9, Shinjuku, Shinjuku-ku, Tokyo 163-8691 1-6-1, Nishi-Shinjuku, Shinjuku-ku, Tokyo 163-1590 1-26-2, Nishi-Shinjuku, Shinjuku-ku, Tokyo 163-0502 2-5-1, Akebono-cho, Tachikawa-shi, Tokyo 190-0012 3-7-18, Tamagawa, Setagaya-ku, Tokyo 158-0094 1-8-2, Marunouchi, Chiyoda-ku, Tokyo 100-0005 2-1-1, Toranomon, Minato-ku, Tokyo 105-0001 2-1-8, Ueno, Taito-ku, Tokyo 110-8501 28 Office Name Telephone Address (cid:2)Chubu/Hokuriku (cid:2)Osaka/Kinki area (cid:2)Chugoku/Shikoku (cid:2)Kyushu/Okinawa Fukui Branch Office Gifu Branch Office Hamamatsu Branch Office Kanayama Branch Office Kanazawa Branch Office Kofu Branch Office Matsumoto Branch Office Nagano Branch Office Nagoya Branch Office Nagoya-ekimae Branch Office Niigata Branch Office Numazu Branch Office Okazaki Branch Office Shizuoka Branch Office Toyama Branch Office Toyohashi Branch Office Toyota Branch Office Tsu Branch Office Yokkaichi Branch Office Akashi Branch Office Higashiosaka Branch Office Himeji Branch Office Hirakata Branch Office Kishiwada Branch Office Kobe Branch Office Kyoto Branch Office Nanba Branch Office Nara Branch Office Nishinomiya Branch Office Osaka Branch Office Otsu Branch Office Sakai Branch Office Senri Branch Office Takatsuki Branch Office Tennoji-eki Branch Office Toyonaka Branch Office Tsukaguchi Branch Office Uehonmachi Branch Office Umeda Branch Office Wakayama Branch Office Fukuyama Branch Office Hiroshima Branch Office Kochi Branch Office Kurashiki Branch Office Matsue Branch Office Matsuyama Branch Office Okayama Branch Office Shimonoseki Branch Office Takamatsu Branch Office Tokushima Branch Office Tokuyama Branch Office Yonago Branch Office Fukuoka Branch Office Kagoshima Branch Office Kitakyushu Branch Office Kumamoto Branch Office Kurume Branch Office Miyazaki Branch Office Nagasaki Branch Office Naha Branch Office Oita Branch Office Saga Branch Office 81(776)22-8011 81(58)262-3101 81(53)454-3151 81(52)322-1261 81(76)221-3145 81(55)237-1781 81(263)33-6781 81(26)228-1811 81(52)201-2311 81(52)561-5251 81(25)225-7777 81(559)62-4444 81(564)23-1811 81(54)254-6151 81(76)421-7561 81(532)53-1121 81(565)33-1300 81(59)223-2111 81(593)53-2141 81(78)918-1155 81(6)6783-5241 81(792)22-6101 81(72)846-2511 81(724)38-8188 81(78)321-2201 81(75)221-7211 81(6)6632-5081 81(742)22-0351 81(798)64-8181 81(6)6201-1281 81(77)526-3131 81(72)221-9241 81(6)6831-1661 81(726)81-2111 81(6)6779-1431 81(6)6845-8401 81(6)6421-1400 81(6)6772-1261 81(6)6313-3431 81(73)431-2111 81(849)21-3111 81(82)247-4131 81(88)823-3311 81(86)421-1511 81(852)22-1515 81(89)941-0131 81(86)224-1181 81(832)31-3211 81(87)851-4111 81(88)623-0161 81(834)22-0811 81(859)34-2851 81(92)771-3111 81(99)226-8141 81(93)521-7581 81(96)352-3181 81(942)33-7151 81(985)24-7191 81(95)821-1161 81(98)864-2471 81(97)535-1211 81(952)22-7111 3-4-1, Ote, Fukui-shi, Fukui 910-0005 7-15, Kanda-machi, Gifu-shi, Gifu 500-8833 330-5, Tamachi, Hamamatsu-shi, Shizuoka 430-0944 1-12-14, Kanayama, Naka-ku, Nagoya-shi, Nagoya, Aichi 460-0022 3-25, Takaoka-machi. Kanazawa-shi, Ishikawa 920-0864 1-8-17, Marunouchi, Kofu-shi, Yamanashi 400-0031 2-1-31, Chuo, Matsumoto-shi, Nagano 390-0811 1361, Suehiro-cho, Minami-Nagano, Nagano-shi, Nagano 380-8640 2-19-22, Nishiki, Naka-ku, Nagoya-shi, Aichi 460-8689 3-22-8, Mei-eki, Nakamura-ku, Nagoya-shi, Aichi 450-8666 1215-7, Rokuban-cho, Kamiokawamaedori, Niigata-shi, Niigata 951-8068 3-4-21, Ote-machi, Numazu-shi, Shizuoka 410-0801 2-11, Koseidori-nishi, Okazaki-shi, Aichi 444-0059 6-6, Miyuki-cho, Shizuoka-shi, Shizuoka 420-0857 1-4-3, Tsutsumichodori, Toyama-shi, Toyama 930-0046 1-38, Ekimaeodori, Toyohashi-shi, Aichi 440-0888 1-200, Nishi-machi, Toyota-shi, Aichi 471-0025 371, Hadokoro-cho, Tsu-shi, Mie 514-0009 1-16, Suwasakae-machi, Yokkaichi-shi, Mie 510-0086 2-1-26, Hon-machi, Akashi-shi, Hyogo 673-0892 2-2-18, Chodo, Higashiosaka-shi, Osaka 577-0056 18, Shirogane-cho, Himeji-shi, Hyogo 670-0902 5-15, Okahigashi-machi, Hirakata-shi, Osaka 573-0032 6-10, Sujikai-cho, Kishiwada-shi, Osaka 596-0057 1-5-32, Sannomiya-cho, Chuo-ku, Kobe-shi, Hyogo 650-0021 Sakai-machi kado, Shijo-dori, Shimogyo-ku, Kyoto-shi, Kyoto 600-8006 4-1-15, Nanba, Chuo-ku, Osaka-shi, Osaka 542-0076 45, Hayashikoji-cho, Nara-shi, Nara 630-8227 1-3-8, Kofuen, Nishinomiya-shi, Hyogo 662-0832 2-5-4, Kitahama, Chuo-ku, Osaka-shi, Osaka 540-8604 3-1-27, Nagara, Otsu-shi, Shiga 520-0046 59, Miyukidori, Mikunigaoka, Sakai-shi, Osaka 590-0028 1-1-5, Shin-senrihigashi-machi, Toyonaka-shi, Osaka 560-0082 3-1-101, Konya-cho, Takatsuki-shi, Osaka 569-0804 10-48, Hidenin-cho, Tennoji-ku, Osaka-shi, Osaka 543-0055 1-2-33, Hon-machi, Toyonaka-shi, Osaka 560-0021 1-10-20, Tsukaguchi-cho, Amagasaki-shi, Hyogo 661-0002 6-5-28, Uehonmachi, Tennoji-ku, Osaka-shi, Osaka 543-0001 2-4, Komatsubara-cho, Kita-ku, Osaka-shi, Osaka 530-0018 9-2, Juban-cho, Wakayama-shi, Wakayama 640-8152 3-1, Higashisakura-machi, Fukuyama-shi, Hiroshima 720-0065 2-23, Tate-machi, Naka-ku, Hiroshima-shi, Hiroshima 730-0032 1-2-6, Harimaya-cho, Kochi-shi, Kochi 780-0822 3-9-10, Achi, Kurashiki-shi, Okayama 710-0055 484-16, Asahi-machi, Matsue-shi, Shimane 690-0003 5-7-3, Chifune-machi, Matsuyama-shi, Ehime 790-8691 6-24, Nishiki-machi, Okayama-shi, Okayama 700-8640 1-3-15, Hosoe-cho, Shimonoseki-shi, Yamaguchi 750-8691 10-5, Furushin-machi, Takamatsu-shi, Kagawa 760-0025 3-14, Yaoya-machi, Tokushima-shi, Tokushima 770-0841 1-3, Hon-machi, Tokuyama-shi, Yamaguchi 745-0036 1-27-13, Kakuban-cho, Yonago-shi, Tottori 683-0812 2-14-8, Tenjin, Chuo-ku, Fukuoka-shi, Fukuoka 810-0001 1-4, Sennichi-cho, Kagoshima-shi, Kagoshima 892-0843 3-1-1, Kyo-machi, Kokurakita-ku, Kitakyushu-shi, Fukuoka 802-0002 12-30, Hanabata-cho, Kumamoto-shi, Kumamoto 860-8604 24-18, Hiyoshi-machi, Kurume-shi, Fukuoka 830-0017 4-1-2, Tachibanadori-higashi, Miyazaki-shi, Miyazaki 880-8607 6-5, Doza-machi, Nagasaki-shi, Nagasaki 850-8691 1-1-19, Matsuyama, Naha-shi, Okinawa 900-0032 1-3-20, Chuo-machi, Oita-shi, Oita 870-0035 3-15, Ekiminami-honmachi, Saga-shi, Saga 840-0816 29 Nomura Holdings, Inc. Subsidiaries and Affiliates (As of December 31, 2001) Major Subsidiaries Japan NOMURA SECURITIES CO., LTD. Nihonbashi Head Office: 1-9-1, Nihonbashi, Chuo-ku Tokyo 103-8011, Japan Tel: 81 (3) 3211-1811 Fax: 81 (3) 3278-0420 Otemachi Head Office: 2-2-2, Otemachi, Chiyoda-ku Tokyo 100-8130, Japan Tel: 81 (3) 3211-1811 Fax: 81 (3) 3278-0420 NOMURA ASSET MANAGEMENT CO., LTD. 2-1-14, Nihonbashi, Chuo-ku Tokyo 103-8260, Japan Tel: 81 (3) 5201-9000 Fax: 81 (3) 3241-8275 THE NOMURA TRUST & BANKING CO., LTD. 1-1-1, Nihonbashi, Chuo-ku Tokyo 103-0027, Japan Tel: 81 (3) 5202-1600 Fax: 81 (3) 3275-0760 NOMURA BABCOCK & BROWN CO., LTD. 1-11-1, Nihonbashi, Chuo-ku Tokyo 103-0027, Japan Tel: 81 (3) 3281-7141 Fax: 81 (3) 3281-0215 NOMURA CORPORATE ADVISORS CO., LTD. 2-2-2, Otemachi, Chiyoda-ku Tokyo 100-0004, Japan Tel: 81 (3) 3281-2031 Fax: 81 (3) 3281-2590 NOMURA CAPITAL INVESTMENT CO., LTD. 2-2-2, Otemachi, Chiyoda-ku Tokyo 100-8130, Japan Tel: 81 (3) 3278-5151 Fax: 81 (3) 3278-1432 NOMURA REALTY CAPITAL MANAGEMENT CO., LTD. 2-2-2, Otemachi, Chiyoda-ku Tokyo 100-8130, Japan Tel: 81 (3) 3278-9610 Fax: 81 (3) 3278-9347 NOMURA INVESTOR RELATIONS CO., LTD. 1-26-2, Nishi-Shinjuku, Shinjuku-ku Tokyo 163-0537, Japan Tel: 81 (3) 3340-0300 Fax: 81 (3) 3340-0308 NOMURA PRINCIPAL FINANCE CO., LTD. 2-2-2, Otemachi, Chiyoda-ku Tokyo100-8130, Japan Tel: 81 (3) 3278-0243 Fax: 81 (3) 3271-2498 30 THE NOMURA FUNDNET SECURITIES CO., LTD. 3-2, Nihonbashi-kobunacho, Chuo-ku Tokyo 103-0024, Japan Tel: 81 (3) 3665-1011 Fax: 81 (3) 3665-2505 NOMURA CORPORATE RESEARCH AND ASSET MANAGEMENT INC. 2 World Financial Center, Building B New York, New York 10281-1198, U.S.A. Tel: 1 (212) 667-9300 Fax: 1 (212) 667-1058 NOMURA FUNDS RESEARCH AND TECHNOLOGIES CO., LTD. 2-2-2, Otemachi, Chiyoda-ku Tokyo 100-8130, Japan Tel: 81 (3) 3276-2151 Fax: 81 (3) 3275-9360 NOMURA DC PLANNING CO., LTD. 2-2-2, Otemachi, Chiyoda-ku Tokyo 100-8130, Japan Tel: 81 (3) 3275-0401 Fax: 81 (3) 3275-2277 NOMURA RESEARCH & ADVISORY CO., LTD. 2-2-2, Otemachi, Chiyoda-ku Tokyo 100-8130, Japan Tel: 81 (3) 5255-9416 Fax: 81 (3) 5255-1775 NOMURA BUSINESS SERVICES CO., LTD. 1-7-2, Nihonbashi-honcho, Chuo-ku Tokyo 103-0023, Japan Tel: 81 (3) 3278-9711 Fax: 81 (3) 3241-8187 NOMURA SATELLITE COMMUNICATIONS CO., LTD. 1-9-1, Nihonbashi, Chuo-ku Tokyo 103-8011, Japan Tel: 81 (3) 3271-6372 Fax: 81 (3) 3271-6377 AMERICAS NOMURA HOLDING AMERICA INC. 2 World Financial Center, Building B New York, New York 10281-1198, U.S.A. Tel: 1 (212) 667-9300 Fax: 1 (212) 667-1058 NOMURA SECURITIES INTERNATIONAL, INC. New York Head Office: 2 World Financial Center, Building B New York, New York 10281-1198, U.S.A. Tel: 1 (212) 667-9300 Fax: 1 (212) 667-1058 Chicago Office: 311 South Wacker Drive, Suite 6100 Chicago, Illinois 60606, U.S.A. Tel: 1 (312) 408-9500 Fax: 1 (312) 408-9555 Los Angeles Office: 633 West, Fifth Street, 68th Floor Los Angeles, California 90071, U.S.A. Tel: 1 (213) 243-1600 Fax: 1 (213) 243-1649 São Paulo Representative Office: Av. Brigadeiro Faria Lima no. 2179 6th Floor-cj. 61, São Paulo, S.P. Brazil CEP 01452-000 Tel: 55 (11) 3034-2258 Fax: 55 (11) 3034-2259 NOMURA ASSET CAPITAL CORPORATION 2 World Financial Center, Building B New York, New York 10281-1198, U.S.A. Tel: 1 (212) 667-9300 Fax: 1 (212) 667-1058 THE CAPITAL COMPANY OF AMERICA, LLC 2 World Financial Center, Building B New York, New York 10281-1198, U.S.A. Tel: 1 (212) 667-2250 Fax: 1 (212) 667-1095 NOMURA DERIVATIVE PRODUCTS, INC. 2 World Financial Center, Building B New York, New York 10281-1198, U.S.A. Tel: 1 (212) 667-9416 Fax: 1 (212) 667-1400 NOMURA GLOBAL FINANCIAL PRODUCTS, INC. 2 World Financial Center, Building B New York, New York 10281-1198, U.S.A. Tel: 1 (212) 667-2357 Fax: 1 (212) 667-1047 NOMURA INTERNATIONAL TRUST COMPANY Exchange Place Center, 10 Exchange Place 16th Floor, Jersey City New Jersey 07302, U.S.A. Tel: 1 (201) 332-2155 Fax: 1 (201) 332-0547 NOMURA SECURITIES (BERMUDA) LTD. Stockton House, 96 Pitts Bay Road Pembroke HM 08, Bermuda Tel: 1 (441) 296-4050 Fax: 1 (441) 296-4061 NOMURA CANADA INC. P.O. Box 434, Suite 5830 1 First Canadian Place, Toronto Ontario M5X 1E3, Canada Tel: 1 (416) 868-1683 Fax: 1 (416) 359-8956 NOMURA REALTY ADVISORS, INC. 2 World Financial Center, Building B New York, New York 10281-1198, U.S.A. Tel: 1 (212) 667-9197 Fax: 1 (212) 667-1643 NOMURA FUNDS RESEARCH AND TECHNOLOGIES AMERICA, INC. 2 World Financial Center, Building B New York, New York 10281-1198, U.S.A. Tel: 1 (212) 667-9300 Fax: 1 (212) 667-1058 NOMURA ASSET MANAGEMENT U.S.A. INC. 180 Maiden Lane, 26th Floor, New York New York 10038, U.S.A. Tel: 1 (212) 509-8181 Fax: 1 (212) 509-8835 EUROPE & MIDDLE EAST NOMURA SECURITIES CO., LTD. Vienna Representative Office: “Kärntner Ring Hof” Kärntner Ring 5-7, A-1010 Vienna, Austria Tel: 43 (1) 513-2322 Fax: 43 (1) 513-2321 NOMURA EUROPE HOLDINGS PLC Nomura House, 1 St. Martin’s-le-Grand London, EC1A 4NP, U.K. Tel: 44 (20) 7521-2000 Fax: 44 (20) 7521-2121 NOMURA INTERNATIONAL PLC London Head Office: Nomura House, 1 St. Martin’s-le-Grand London, EC1A 4NP, U.K. Tel: 44 (20) 7521-2000 Fax: 44 (20) 7521-2121 Madrid Office: Alcala 44, 3ºA, 28014, Madrid, Spain Tel: 34 (91) 532-0920 Fax: 34 (91) 521-6010 Prague Representative Office: 2nd Floor, Betlem Palais, Husova 5 11000 Prague 1, Czech Republic Tel: 420 (2) 24401444 Fax: 420 (2) 24248648 NOMURA BANK INTERNATIONAL PLC Nomura House, 1 St. Martin’s-le-Grand London, EC1A 4NP, U.K. Tel: 44 (20) 7521-2000 Fax: 44 (20) 7626-0851 NOMURA GLOBAL FUNDING PLC Nomura House, 1 St. Martin’s-le-Grand London, EC1A 4NP, U.K. Tel: 44 (20) 7521-2000 Fax: 44 (20) 7521-2121 Dublin London Amsterdam Frankfurt Prague Paris Zurich Geneva Madrid Luxembourg Vienna Budapest Milan Manama BANQUE NOMURA FRANCE 164, rue de Rivoli, 75001, Paris, France Tel: 33 (1) 42971900 Fax: 33 (1) 42971888 NOMURA NEDERLAND N.V. Atrium 1st Floor, Strawinskylaan 3109 1077 ZX, Amsterdam, The Netherlands Tel: 31 (20) 5999000 Fax: 31 (20) 4684682 NOMURA EUROPE FINANCE N.V. Atrium 1st Floor, Strawinskylaan 3109 1077 ZX, Amsterdam, The Netherlands Tel: 31 (20) 5999000 Fax: 31 (20) 4684682 NOMURA BANK (LUXEMBOURG) S.A. 6 avenue Emile Reuter, L-2420 Luxembourg Grand Duchy of Luxembourg Tel: 352-4638888 Fax: 352-463333 NOMURA BANK (DEUTSCHLAND) GmbH Messe Turm D-60308 Frankfurt am Main Federal Republic of Germany Tel: 49 (69) 67508-0 Fax: 49 (69) 67508-600 NOMURA BANK (SWITZERLAND) LTD. Zurich Head Office: Kasernenstrasse 1, P.O. Box CH-8021 Zurich Switzerland Tel: 41 (1) 2957111 Fax: 41 (1) 2422141 Geneva Office: 10, Quai du Seujet, P.O. Box CH-1211 Geneva 11, Switzerland Tel: 41 (22) 9098400 Fax: 41 (22) 7328314 NOMURA ITALIA S.I.M.p.A. Via Palestro, 2-20121 Milan, Italy Tel: 39 (02) 76461 Fax: 39 (02) 76317106 NOMURA SECURITIES HUNGARY LTD. East-West Business Center 7th Floor, 1088 Budapest Rákóczi út 1-3, Hungary Tel: 36 (1) 235-5200 Fax: 36 (1) 235-5299 NOMURA INVESTMENT BANKING (MIDDLE EAST) E.C. 7th Floor, BMB Centre Diplomatic Area, P.O. Box 26893 Manama, Bahrain Tel: 973-530531 Fax: 973-530365 NOMURA FUNDING FACILITY CORPORATION LIMITED International House, 3 Harbourmaster Place IFSC, Dublin 1, Ireland Tel: 353 (1) 667-0200 Fax: 353 (1) 670-0288 NOMURA ASSET MANAGEMENT U.K. LIMITED 6th Floor, Nomura House, 1 St. Martin’s-le-Grand, London EC1A 4NP, U.K. Tel: 44 (20) 7521-3333 Fax: 44 (20) 7796-1246 NOMURA ASSET MANAGEMENT IRELAND LIMITED Grand Central House, 1 Upper Grand Conal Street, Dublin 4, Ireland Tel: 353 (1) 667-0022 Fax: 353 (1) 667-0042 Tokyo Los Angeles Toronto Chicago Jersey City New York Bermuda Beijing Seoul Shanghai Hong Kong Hanoi Bangkok Kuala Lumpur Singapore Jakarta Taipei Manila Sydney São Paulo 31 ASIA & OCEANIA NOMURA SECURITIES CO., LTD. Seoul Branch Office: 12th Floor, Youngpoong Building 33 Seorin-dong, Chongro-ku, Seoul, Korea Tel: 82 (2) 399-6100 Fax: 82 (2) 399-5255 Taipei Branch Office: 14th Floor, 109 Min-Sheng East Road Sec. 3, Taipei, Taiwan R.O.C. Tel: 886 (2) 2547-9300 Fax: 886 (2) 2547-9388 Beijing Representative Office: 1708, Beijing Fortune Building 5 Dongsanhuan-Beilu, Chaoyang District Beijing, People’s Republic of China Tel: 86 (10) 6590-8181 Fax: 86 (10) 6590-8182 Shanghai Representative Office: 601, Garden Hotel Shanghai 58 Maoming Nan-lu, Shanghai People’s Republic of China Tel: 86 (21) 6415-1565 Fax: 86 (21) 6415-1317 Hanoi Representative Office: Unit 1103, 11th Floor, Hanoi Central Building B Ly Thuong, Kiet Street, Hanoi, Vietnam Tel: 84 (4) 8250-414 Fax: 84 (4) 8250-219 NOMURA ASIA HOLDING N. V. Atrium 1st Floor, Strawinskylaan 3109 1077 ZX, Amsterdam, The Netherlands Tel: 31 (20) 5999000 Fax: 31 (20) 4684682 NOMURA INTERNATIONAL (HONG KONG) LIMITED 20/F-21/F, 3 Garden Road, Central Hong Kong Tel: 852 (2536) 1111 Fax: 852 (2536) 1888 NOMURA FUTURES (HONG KONG) LIMITED 20/F-21/F, 3 Garden Road, Central Hong Kong Tel: 852 (2536) 1111 Fax: 852 (2536) 1888 NOMURA SECURITIES (HONG KONG) LIMITED 20/F-21/F, 3 Garden Road, Central Hong Kong Tel: 852 (2536) 1111 Fax: 852 (2536) 1888 NOMURA ASIA LIMITED 20/F-21/F, 3 Garden Road, Central Hong Kong Tel: 852 (2536) 1720 Fax: 852 (2536) 1395 NOMURA SINGAPORE LIMITED 6 Battery Road, #34-01, Singapore 049909 Singapore Tel: 65 (420) 1811 Fax: 65 (420) 1888 NOMURA SECURITIES SINGAPORE PTE. LTD. 6 Battery Road, #34-01, Singapore 049909 Singapore Tel: 65 (420) 1811 Fax: 65 (420) 1818 NOMURA FUTURES (SINGAPORE) PTE. LTD. 6 Battery Road, #34-01, Singapore 049909 Singapore Tel: 65 (420) 1811 Fax: 65 (420) 1888 NOMURA ADVISORY SERVICES (MALAYSIA) SDN. BHD. Suite No.16. 3, Level 16, Letter Box No.46 Menara IMC, 8 Jalan Sultan Ismail 50250 Kuala Lumpur, Malaysia Tel: 60 (3) 2076-6811 Fax: 60 (3) 2076-6888 P.T. NOMURA INDONESIA 7th Floor, The Daiwa Perdania Bank Jl. Jend. Sudirman Kav. 40-41 Jakarta 10210, The Republic of Indonesia Tel: 62 (21) 571-8888 Fax: 62 (21) 571-8881 NOMURA SECURITIES PHILIPPINES, INC. 18F, Tower The Enterprise Center 6766 Ayala Avenue Corner, Paseo de Roxas Makati City 1200, Philippines Tel: 63 (2) 886-5240 Fax: 63 (2) 886-5250 NOMURA AUSTRALIA LIMITED Level 32, Colonial Centre, 52 Martin Place, Sydney, N.S.W. 2000, Australia Tel: 61 (2) 9321-3500 Fax: 61 (2) 9321-3599 NOMURA ASSET MANAGEMENT SINGAPORE LIMITED 6 Battery Road #34-02, Singapore 049909 Singapore Tel: 65 (420) 1788 Fax: 65 (420) 1799 NOMURA ASSET MANAGEMENT HONG KONG LIMITED 32/F Citibank Tower Citibank Plaza, 3 Garden Road Central, Hong Kong Tel: 852 (2524) 8061 Fax: 852 (2536) 1067 Major Affiliates and Group Companies JAPAN NOMURA LAND AND BUILDING CO., LTD. 1-7-2, Nihonbashi-honcho, Chuo-ku Tokyo 103-0023, Japan Tel: 81 (3) 3231-6221 Fax: 81 (3) 3231-4625 NOMURA RESEARCH INSTITUTE, LTD. 2-2-1, Otemachi, Chiyoda-ku Tokyo 100-0004, Japan Tel: 81 (3) 5255-1800 Fax: 81 (3) 5255-9312 NOMURA REAL ESTATE DEVELOPMENT CO., LTD. 1-26-2, Nishi-Shinjuku, Shinjuku-ku Tokyo 163-0566, Japan Tel: 81 (3) 3348-8811 Fax: 81 (3) 3345-0381 JAFCO CO., LTD. Tekko Building 1-8-2, Marunouchi, Chiyoda-ku Tokyo 100-0005, Japan Tel: 81 (3) 5223-7536 Fax: 81 (3) 5223-7561 NOMURA CHINA INVESTMENT CO., LTD. 1-7-2, Nihonbashi-honcho, Chuo-ku Tokyo 103-0023, Japan Tel: 81 (3) 3274-4608 Fax: 81 (3) 3274-6799 NIPPON CLEARING SERVICES CO., LTD. 6-7, Nihonbashi-koamicho, Chuo-ku Tokyo 103-0016, Japan Tel: 81 (3) 3663-6751 Fax: 81 (3) 3663-6733 ASIA & OCEANIA NOMURA CITIC INTERNATIONAL ECONOMIC CONSULTANTS CO., LTD. 1601, Beijing Fortune Building 5 Dongsanhuan-Beilu, Chaoyang District, Beijing, People’s Republic of China Tel: 86 (10) 6590-9091 Fax: 86 (10) 6590-9088 CAPITAL NOMURA SECURITIES PUBLIC COMPANY LIMITED 21/3 Thai Wah Tower, Ground Floor South Sathorn Road, Bangkok 10120 Thailand Tel: 66 (2) 285-0060 Fax: 66 (2) 285-0620 INTERNATIONAL UNION LEASING CO., LTD. 1616, Beijing Fortune Building 5 Dongsanhuan-Beilu, Chaoyang District, Beijing, People’s Republic of China Tel: 86 (10) 6590-8989 Fax: 86 (10) 6590-8999 32 Nomura Holdings, Inc. Corporate Data (As of December 31, 2001) Board of Directors and Statutory Auditors (As of December 31, 2001) Nomura Holdings, Inc. Board of Directors Type of Business: Holding Company Date of Incorporation: December 25, 1925 Representative: President and Chief Executive Officer Junichi Ujiie Executive Vice President Toshiaki Ito Executive Vice President and Chief Operating Officer Junichi Ujiie, President and Chief Executive Officer Directors Capital: ¥182.7 billion (As of September 30, 2001) Number of common stock issued: 1,962,980,444 shares (As of September 30, 2001) Number of Shareholders: 194,728 (As of September 30, 2001) Listings: The common shares of Nomura Holdings, Inc. are listed on the Tokyo, Osaka, Nagoya and Singapore stock exchanges. The shares are also listed on the New York Stock Exchange in the form of American Depositary Receipts and on the Amsterdam Stock Exchange (Euronext) both through the Amsterdam Securities Account System and in the form of Continental Depositary Receipts. Head Office: 1-9-1, Nihonbashi, Chuo-ku, Tokyo 103-8645, Japan Tel: Fax: URL: 81(3) 5255-1000 81(3) 5255-1064 http://www.nomuraholdings.com/ http://www.nomura.com (New URL, effective from April 1, 2002) Transfer Agent and Registrar UFJ Trust Bank Limited (The Toyo Trust and Banking Co., Ltd. was renamed UFJ Trust Bank Limited on January 15, 2002.) Corporate Agency Department 81(3) 5683-5111 Nobuyuki Koga Akira Kiyokawa Toshio Ando Hiroshi Toda Kazutoshi Inano Kenichi Watanabe Masanori Itatani Hitoshi Tada Masaharu Shibata Hideaki Kubori Statutory Auditors Hironobu Goto Munetsugu Wakamatsu Fumihide Nomura Haruo Tsuji Nomura Holdings, Inc. was listed on the New York Stock Exchange (NYSE) on December 17, 2001. For further information, please contact: NOMURA SECURITIES CO., LTD. Investor Relations Department Nomura Group Headquarters 1-9-1, Nihonbashi, Chuo-ku, Tokyo 103-8011, Japan Tel: URL: http://www.nomuraholdings.com/investor 81 (3) 3211-1811 33 Printed in Japan on recycled paper.