# Nomura Holdings Inc ADR > Clarifo company profile — qualitative business description generated from > the company's filings. Financial statements, charts and ratios are > available on Clarifo (https://www.clarifo.com/fi/companies/Nomura Holdings Inc ADR). ## Overview Nomura Holdings Inc. is a Japan-based financial services group organized around securities, asset management, and banking activities. Through its broker-dealer and related subsidiaries, it serves individuals, institutions, corporates, and governments across Japan and major international financial centers. ## Products & services • Securities brokerage and trading • Underwriting and distribution • Private placement and advisory services • Asset management and investment products • Banking and trust services • Principal investment and financing - **Wealth Management** (25%) — Retail brokerage, investment products, and advice for individual clients. - **Investment Management** (15%) — Asset management and investment solutions for institutional and other clients. - **Wholesale** (45%) — Global markets, underwriting, trading, and investment banking services. - **Banking** (10%) — Banking, trust, and financing services provided through banking subsidiaries. - **Other and corporate activities** (5%) — Treasury, holding company, and other non-core activities and investments. - Securities brokerage and trading - Underwriting and distribution - Private placement and advisory services - Asset management and investment products - Banking and trust services - Principal investment and financing ## Customers Nomura serves individuals through wealth management and brokerage, institutions through asset management and market access, and corporates and governments through capital markets and advisory services. Its client base is broad, with transaction activity and long-term relationships both contributing to the business model. The firm’s global platform is designed to meet financing and investment needs across different client types and markets. - **Individual investors** (primary) — Buy brokerage, savings, and investment products through wealth management channels. - **Institutional investors** (primary) — Use asset management, trading access, and market execution services. - **Corporate issuers** (primary) — Buy underwriting, private placement, and financing solutions for capital raising. - **Government and public-sector clients** (secondary) — Use debt capital markets, advisory, and market services for funding and execution. - Individual investors buying brokerage and wealth products - Institutional investors using asset management and market access - Corporates seeking underwriting, financing, and advisory services - Governments and public-sector issuers accessing capital markets - Clients needing cross-border execution and market connectivity ## Geography Nomura operates globally, with a core base in Japan and significant activity in major financial centers across the United States, Europe, and Asia-Pacific. The business model depends on access to liquid markets and cross-border client flows, so geography matters for both revenue mix and regulatory exposure. Its structure includes domestic subsidiaries in Japan and overseas entities in the Americas, Europe, and Asia. - Japan is the core operating base and home market - United States supports wholesale and capital markets activity - Europe houses key wholesale and banking subsidiaries - Asia-Pacific is important for trading and client coverage - Global footprint supports cross-border financing and execution ## Strategy Nomura’s strategy centers on integrating wealth management, investment management, wholesale markets, and banking under one global platform. The company emphasizes serving clients across East and West, using its network to connect capital, distribution, and market access across regions and products. - **Cross-selling across business divisions** (medium-term) — A broader platform increases wallet share and deepens client relationships. - **Global client coverage** (medium-term) — International presence supports cross-border flows and diversified revenue sources. - **Strengthen fee-based businesses** (medium-term) — Asset management and wealth services can improve revenue stability relative to market trading. - Integrate wealth, asset management, markets, and banking - Use global network to connect East-West client flows - Broaden fee-based and recurring client relationships - Expand cross-border advisory and capital markets coverage - Leverage multiple product lines across the client lifecycle ## Risks Nomura is exposed to market volatility, client activity cycles, and changes in capital-market issuance and trading conditions, which can affect its core brokerage and investment banking businesses. As a global financial institution, it also faces regulatory, legal, credit, operational, and foreign-exchange risks across multiple jurisdictions. - **Market activity volatility** [high] — Brokerage, trading, and underwriting depend on client risk appetite and market conditions. - **Regulatory and legal risk** [high] — Securities, banking, and advisory activities are heavily regulated and subject to investigations or claims. - **Credit and counterparty risk** [high] — Financing, prime brokerage, and market-making create exposure to client default. - **Foreign-exchange and funding risk** [medium] — A global balance sheet with cross-border funding can be affected by currency and liquidity conditions. - Market volatility can reduce trading and underwriting activity - Client issuance cycles affect investment banking revenues - Credit and counterparty risk are inherent in financing businesses - Regulatory and legal actions span multiple jurisdictions - Foreign-exchange and funding risks affect global operations ## Accounting Nomura reports under U.S. GAAP, and its results are shaped by fair value measurements, derivative accounting, and consolidation judgments across a large group structure. Goodwill is tested for impairment at the reporting-unit level, while cash, restricted cash, and right-of-use assets reflect balance-sheet presentation choices that matter for liquidity and leverage analysis. - **Fair value measurement** — Can cause earnings and balance-sheet volatility - **Derivative accounting** — Can create timing differences between economic and accounting gains - **Goodwill impairment** — May lead to non-cash write-downs if business outlook weakens - **Consolidation of VIEs** — Affects reported assets, liabilities, and risk presentation - **Lease accounting** — Influences reported assets and leverage ratios - Fair value marks affect trading assets and liabilities - Derivative and hedging accounting can move reported earnings - Goodwill impairment testing depends on reporting-unit estimates - Consolidation of subsidiaries and VIEs affects balance-sheet size - Lease accounting affects right-of-use assets and obligations --- *Last updated: 2026-09-28T12:13:21.413552+00:00*