Cover Page
Cover Page | 12 Months Ended |
Mar. 31, 2020shares | |
Document Information [Line Items] | |
Document Type | 20-F |
Amendment Flag | false |
Document Annual Report | true |
Document Transition Report | false |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | FY |
Current Fiscal Year End Date | --03-31 |
Document Period End Date | Mar. 31, 2020 |
Entity Well-known Seasoned Issuer | Yes |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Registrant Name | NOMURA HOLDINGS INC |
Entity Central Index Key | 0001163653 |
Document Accounting Standard | U.S. GAAP |
Entity Filer Category | Large Accelerated Filer |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Document Shell Company Report | false |
Entity Address, Address Line One | 9-1, Nihonbashi 1-chome |
Entity Address, City or Town | Chuo-ku |
Entity Address, Postal Zip Code | 103-8645 |
Entity File Number | 1-15270 |
Entity Incorporation, State or Country Code | M0 |
Entity Address, Country | JP |
Document Registration Statement | false |
Entity Common Stock, Shares Outstanding | 3,038,587,493 |
Contact Personnel Name | Takumi Kitamura |
ADS [Member] | |
Document Information [Line Items] | |
Trading Symbol | NMR |
Title of 12(b) Security | American Depositary Shares |
Security Exchange Name | NYSE |
Common Stock [Member] | |
Document Information [Line Items] | |
Title of 12(b) Security | Common Stock |
Security Exchange Name | NYSE |
No Trading Symbol Flag | true |
Business Contact [Member] | |
Document Information [Line Items] | |
Entity Address, Address Line One | 9-1, Nihonbashi 1-chome |
Entity Address, City or Town | Chuo-ku |
Entity Address, Postal Zip Code | 103-8645 |
Entity Address, Country | JP |
Contact Personnel Name | Takumi Kitamura |
City Area Code | 81 |
Country Region | 3 |
Local Phone Number | 5255-1000 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | |
Cash and cash deposits: | |||
Cash and cash equivalents | ¥ 3,191,889 | ¥ 2,686,659 | |
Time deposits | 309,373 | 289,753 | |
Deposits with stock exchanges and other segregated cash | 373,686 | 285,457 | |
Total cash and cash deposits | 3,874,948 | 3,261,869 | |
Loans and receivables: | |||
Loans receivable (including ¥664,585 million and ¥805,141 million measured at fair value by applying the fair value option as of March 31, 2019 and March 31, 2020, respectively) | 2,857,405 | 2,544,218 | |
Receivables from customers (including ¥8,318 million and ¥11 million measured at fair value by applying the fair value option as of March 31, 2019 and March 31, 2020, respectively) | 541,284 | 449,706 | |
Receivables from other than customers | 1,731,236 | 892,283 | |
Allowance for doubtful accounts | (13,012) | (4,169) | |
Total loans and receivables | 5,116,913 | 3,882,038 | |
Collateralized agreements: | |||
Securities purchased under agreements to resell (including ¥647,545 million and ¥548,043 million measured at fair value by applying the fair value option as of March 31, 2019 and March 31, 2020, respectively) | 12,377,315 | 13,194,543 | |
Securities borrowed | 3,529,797 | 4,112,416 | |
Total collateralized agreements | 15,907,112 | 17,306,959 | |
Trading assets and private equity investments: | |||
Trading assets (including securities pledged as collateral of ¥5,200,360 million and ¥5,332,640 million as of March 31, 2019 and March 31, 2020, respectively; including ¥10,273 million and ¥12,407 million measured at fair value by applying the fair value option as of March 31, 2019 and March 31, 2020, respectively) | 16,853,822 | 14,355,712 | |
Private equity and debt investments (including ¥4,047 million and ¥6,395 million measured at fair value by applying the fair value option in March 31, 2019 and March 31, 2020, respectively) | 44,278 | 30,077 | |
Total trading assets and private equity and debt investments | 16,898,100 | 14,385,789 | |
Other assets: | |||
Office buildings, land, equipment and facilities (net of accumulated depreciation and amortization of ¥416,052 million and ¥397,114 million as of March 31, 2019 and March 31, 2020, respectively) | 440,512 | 349,365 | |
Non-trading debt securities | 455,392 | 460,661 | |
Investments in equity securities | 112,175 | 138,447 | |
Investments in and advances to affiliated companies | 367,641 | 436,220 | |
Other (including ¥151,233 million and ¥144,756 million measured at fair value by applying the fair value option as of March 31, 2019 and March 31, 2020, respectively) | 827,022 | 748,091 | |
Total other assets | 2,202,742 | 2,132,784 | |
Total assets | 43,999,815 | 40,969,439 | |
LIABILITIES AND EQUITY | |||
Short-term borrowings (including ¥362,612 million and ¥376,910 million measured at fair value by applying the fair value option as of March 31, 2019 and March 31, 2020, respectively) | [1] | 1,486,733 | 841,758 |
Payables and deposits: | |||
Payables to customers | 1,467,434 | 1,229,083 | |
Payables to other than customers | 1,653,495 | 1,146,336 | |
Deposits received at banks (including ¥—million and ¥14,392 million measured at fair value by applying the fair value option as of March 31, 2019 and March 31, 2020, respectively) | 1,276,153 | 1,392,619 | |
Total payables and deposits | 4,397,082 | 3,768,038 | |
Collateralized financing: | |||
Securities sold under agreements to repurchase (including ¥159,430 million and ¥111,609 million measured at fair value by applying the fair value option as of March 31, 2019 and March 31, 2020, respectively) | 16,349,182 | 15,036,503 | |
Securities loaned (including ¥131,677 million and ¥105,968 million measured at fair value by applying the fair value option as of March 31, 2019 and March 31, 2020, respectively) | 961,446 | 1,229,595 | |
Other secured borrowings | 717,711 | 418,305 | |
Total collateralized financing | 18,028,339 | 16,684,403 | |
Trading liabilities | 8,546,284 | 8,219,811 | |
Other liabilities (including ¥15,011 million and ¥9,183 million measured at fair value by applying the fair value option as of March 31, 2019 and March 31, 2020, respectively) | 1,034,448 | 858,867 | |
Long-term borrowings (including ¥3,576,293 million and ¥3,707,643 million measured at fair value by applying the fair value option as of March 31, 2019 and March 31, 2020, respectively) | 7,775,665 | 7,915,769 | |
Total liabilities | 41,268,551 | 38,288,646 | |
Common stock | |||
No par value shares; Authorized—6,000,000,000 shares as of March 31, 2019 and March 31, 2020 Issued—3,493,562,601 shares as of March 31, 2019 and March 31, 2020 Outstanding—3,310,800,799 shares as of March 31, 2019 and 3,038,587,493 shares as of March 31, 2020 | 594,493 | 594,493 | |
Additional paid-in capital | 683,232 | 687,761 | |
Retained earnings | 1,645,451 | 1,486,825 | |
Accumulated other comprehensive income | (26,105) | (29,050) | |
Total NHI shareholders' equity before treasury stock | 2,897,071 | 2,740,029 | |
Common stock held in treasury, at cost—182,761,802 shares as of March 31, 2019 and 454,975,108 shares as of March 31, 2020 | (243,604) | (108,968) | |
Total NHI shareholders' equity | 2,653,467 | 2,631,061 | |
Noncontrolling interests | 77,797 | 49,732 | |
Total equity | 2,731,264 | 2,680,793 | |
Total liabilities and equity | 43,999,815 | 40,969,439 | |
Variable Interest Entity, primary beneficiary [Member] | |||
Cash and cash deposits: | |||
Cash and cash equivalents | 10,000 | 20,000 | |
Total cash and cash deposits | 10,000 | 20,000 | |
Trading assets and private equity investments: | |||
Private equity and debt investments (including ¥4,047 million and ¥6,395 million measured at fair value by applying the fair value option in March 31, 2019 and March 31, 2020, respectively) | 11,000 | 2,000 | |
Total trading assets and private equity and debt investments | 1,172,000 | 1,273,000 | |
Other assets: | |||
Office buildings, land, equipment and facilities (net of accumulated depreciation and amortization of ¥416,052 million and ¥397,114 million as of March 31, 2019 and March 31, 2020, respectively) | 15,000 | 55,000 | |
Other (including ¥151,233 million and ¥144,756 million measured at fair value by applying the fair value option as of March 31, 2019 and March 31, 2020, respectively) | 24,000 | 71,000 | |
Total other assets | 39,000 | 126,000 | |
Total assets | 1,221,000 | 1,419,000 | |
LIABILITIES AND EQUITY | |||
Short-term borrowings (including ¥362,612 million and ¥376,910 million measured at fair value by applying the fair value option as of March 31, 2019 and March 31, 2020, respectively) | 117,000 | 151,000 | |
Collateralized financing: | |||
Trading liabilities | 19,000 | 23,000 | |
Other liabilities (including ¥15,011 million and ¥9,183 million measured at fair value by applying the fair value option as of March 31, 2019 and March 31, 2020, respectively) | 4,000 | 3,000 | |
Long-term borrowings (including ¥3,576,293 million and ¥3,707,643 million measured at fair value by applying the fair value option as of March 31, 2019 and March 31, 2020, respectively) | 830,000 | 884,000 | |
Borrowings | 947,000 | 1,035,000 | |
Total liabilities | ¥ 970,000 | ¥ 1,061,000 | |
[1] | Includes secured borrowings of ¥173,690 million as of March 31, 2019 and ¥170,290 million as of March 31, 2020. |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | |
Loans receivable, fair value | [1] | ¥ 805,141 | ¥ 664,585 |
Receivables from customers, fair value | 11 | 8,318 | |
Securities purchased under agreements to resell, fair value | 548,043 | 647,545 | |
Trading assets, securities pledged as collateral | 5,332,640 | 5,200,360 | |
Trading assets, fair value | 12,407 | 10,273 | |
Private equity investments, fair value | 6,395 | 4,047 | |
Office buildings, land, equipment and facilities, net of accumulated depreciation and amortization | 397,114 | 416,052 | |
Other, fair value | 144,756 | 151,233 | |
Short-term borrowings, fair value | 376,910 | 362,612 | |
Deposits received at banks, fair value | 14,392 | ||
Securities sold under agreements to repurchase, fair value | 111,609 | 159,430 | |
Securities loaned, fair value | 105,968 | 131,677 | |
Other liabilities, fair value | 9,183 | 15,011 | |
Long-term borrowings, fair value | ¥ 3,707,643 | ¥ 3,576,293 | |
Common stock | |||
Authorized | 6,000,000,000 | 6,000,000,000 | |
Issued | 3,493,562,601 | 3,493,562,601 | |
Outstanding | 3,038,587,493 | 3,310,800,799 | |
Common stock held in treasury, shares | 454,975,108 | 182,761,802 | |
[1] | Includes loans receivable and loan commitments carried at fair value through election of the fair value option. |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | ||
Revenue: | ||||
Commissions | ¥ 308,805 | ¥ 293,069 | ¥ 373,313 | |
Fees from investment banking | 103,222 | 101,521 | 101,663 | |
Asset management and portfolio service fees | 238,202 | 245,519 | 245,616 | |
Net gain on trading | 356,609 | 342,964 | 442,885 | |
Gain (loss) on private equity and debt investments | (93) | 1,007 | (869) | |
Interest and dividends | 794,472 | 776,964 | 585,675 | |
Gain (loss) on investments in equity securities | (14,726) | (6,983) | 2,683 | |
Other | 165,991 | 81,057 | 221,192 | |
Total revenue | 1,952,482 | 1,835,118 | 1,972,158 | |
Interest expense | 664,653 | 718,348 | 475,189 | |
Net revenue | [1] | 1,287,829 | 1,116,770 | 1,496,969 |
Non-interest expenses: | ||||
Compensation and benefits | 479,420 | 497,065 | 530,641 | |
Commissions and floor brokerage | 106,123 | 82,637 | 99,868 | |
Information processing and communications | 170,317 | 166,865 | 184,781 | |
Occupancy and related depreciation | 72,986 | 64,940 | 67,895 | |
Business development expenses | 31,885 | 36,915 | 36,762 | |
Other | 178,837 | 306,049 | 248,864 | |
Total non-interest expenses | 1,039,568 | 1,154,471 | 1,168,811 | |
Income (loss) before income taxes | 248,261 | (37,701) | 328,158 | |
Income tax expense | 28,894 | 57,010 | 103,866 | |
Net income (loss) | 219,367 | (94,711) | 224,292 | |
Less: Net income attributable to noncontrolling interests | 2,369 | 5,731 | 4,949 | |
Net income (loss) attributable to NHI shareholders | ¥ 216,998 | ¥ (100,442) | ¥ 219,343 | |
Basic- | ||||
Net income (loss) attributable to NHI shareholders per share | ¥ 67.76 | ¥ (29.90) | ¥ 63.13 | |
Diluted- | ||||
Net income (loss) attributable to NHI shareholders per share | ¥ 66.20 | ¥ (29.92) | ¥ 61.88 | |
[1] | There is no revenue derived from transactions with a single major external customer. |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract] | |||
Net income (loss) | ¥ 219,367 | ¥ (94,711) | ¥ 224,292 |
Change in cumulative translation adjustments: | |||
Change in cumulative translation adjustments | (45,000) | 36,031 | (77,067) |
Deferred income taxes | 591 | (1,852) | 14,263 |
Total | (44,409) | 34,179 | (62,804) |
Defined benefit pension plans: | |||
Pension liability adjustment | 7,843 | (23,431) | (10,124) |
Deferred income taxes | 693 | 161 | 3,307 |
Total | 8,536 | (23,270) | (6,817) |
Non-trading securities: | |||
Net unrealized gain (loss) on non-trading securities | 0 | 0 | (38,717) |
Deferred Income Tax | 0 | 0 | 12,216 |
Total | 0 | 0 | (26,501) |
Own credit adjustments: | |||
Own credit adjustments | 48,295 | 25,135 | (2,867) |
Deferred income taxes | (9,779) | (4,988) | 383 |
Total | 38,516 | 20,147 | (2,484) |
Total other comprehensive income (loss) | 2,643 | 31,056 | (98,606) |
Comprehensive income (loss) | 222,010 | (63,655) | 125,686 |
Less: Comprehensive income (loss) attributable to noncontrolling interests | 2,067 | 6,481 | (649) |
Comprehensive income (loss) attributable to NHI shareholders | ¥ 219,943 | ¥ (70,136) | ¥ 126,335 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - JPY (¥) ¥ in Millions | Total | Common stock [Member] | Additional paid-in capital [Member] | Retained earnings [Member] | Cumulative translation adjustments [Member] | Defined benefit pension plans [Member] | Own credit adjustments [Member] | Accumulated other comprehensive income (loss) [Member] | Common stock held in treasury [Member] | Total NHI shareholders' equity [Member] | Noncontrolling interests [Member] | |
Balance at beginning of year at Mar. 31, 2017 | ¥ 594,493 | ¥ 681,329 | ¥ 1,663,234 | ¥ 47,767 | ¥ (41,020) | ¥ 6,561 | ¥ (182,792) | ¥ 53,875 | ||||
Cumulative effect of change in accounting principle | [1] | |||||||||||
Net income (loss) attributable to NHI shareholders | ¥ 219,343 | 219,343 | ||||||||||
Cash dividends | (68,703) | (1,955) | ||||||||||
Gain (loss) on sales of treasury stock | (5,043) | |||||||||||
Stock-based compensation awards | (5,465) | |||||||||||
Changes in ownership interests in subsidiaries | (584) | |||||||||||
Net change during the year | (63,363) | |||||||||||
Pension liability adjustment | (6,817) | (6,817) | ||||||||||
Own credit adjustments | (2,484) | (2,484) | ||||||||||
Repurchases of common stock | (109,096) | |||||||||||
Sales of common stock | 0 | |||||||||||
Common stock issued to employees | 21,398 | |||||||||||
Cancellation of treasury stock | (111,941) | 111,941 | ||||||||||
Other net change in treasury stock | 562 | |||||||||||
Net income attributable to noncontrolling interests | (4,949) | 4,949 | ||||||||||
Accumulated other comprehensive income (loss) attributable to noncontrolling interests | ||||||||||||
Cumulative translation adjustments | 559 | |||||||||||
Net unrealized gain (loss) on non-trading securities | (6,157) | |||||||||||
Purchase/sale (disposition) of subsidiary shares, etc., net | (9,392) | |||||||||||
Other net change in noncontrolling interests | 8,625 | |||||||||||
Balance at end of year at Mar. 31, 2018 | 2,799,824 | 594,493 | 675,280 | 1,696,890 | (15,596) | (47,837) | 4,077 | ¥ (59,356) | (157,987) | ¥ 2,749,320 | 50,504 | |
Cumulative effect of change in accounting principle | [1] | 1,564 | ||||||||||
Net income (loss) attributable to NHI shareholders | (100,442) | (100,442) | ||||||||||
Cash dividends | (20,080) | (2,685) | ||||||||||
Gain (loss) on sales of treasury stock | (1,191) | |||||||||||
Stock-based compensation awards | 12,481 | |||||||||||
Changes in ownership interests in subsidiaries | ||||||||||||
Net change during the year | 33,429 | |||||||||||
Pension liability adjustment | (23,270) | (23,270) | ||||||||||
Own credit adjustments | 20,147 | 20,147 | ||||||||||
Repurchases of common stock | (51,714) | |||||||||||
Sales of common stock | 0 | |||||||||||
Common stock issued to employees | 10,817 | |||||||||||
Cancellation of treasury stock | (89,916) | 89,916 | ||||||||||
Other net change in treasury stock | ||||||||||||
Net income attributable to noncontrolling interests | (5,731) | 5,731 | ||||||||||
Accumulated other comprehensive income (loss) attributable to noncontrolling interests | ||||||||||||
Cumulative translation adjustments | 750 | |||||||||||
Net unrealized gain (loss) on non-trading securities | ||||||||||||
Purchase/sale (disposition) of subsidiary shares, etc., net | 1,183 | |||||||||||
Other net change in noncontrolling interests | (5,751) | |||||||||||
Balance at end of year at Mar. 31, 2019 | 2,680,793 | 594,493 | 687,761 | 1,486,825 | 17,833 | (71,107) | 24,224 | (29,050) | (108,968) | 2,631,061 | 49,732 | |
Cumulative effect of change in accounting principle | [1] | 5,592 | ||||||||||
Net income (loss) attributable to NHI shareholders | 216,998 | 216,998 | ||||||||||
Cash dividends | (63,670) | (1,483) | ||||||||||
Gain (loss) on sales of treasury stock | (294) | |||||||||||
Stock-based compensation awards | (4,326) | |||||||||||
Changes in ownership interests in subsidiaries | (203) | |||||||||||
Net change during the year | (44,107) | |||||||||||
Pension liability adjustment | 8,536 | 8,536 | ||||||||||
Own credit adjustments | 38,516 | 38,516 | ||||||||||
Repurchases of common stock | (150,009) | |||||||||||
Sales of common stock | 0 | |||||||||||
Common stock issued to employees | 15,373 | |||||||||||
Cancellation of treasury stock | 0 | 0 | ||||||||||
Other net change in treasury stock | 0 | |||||||||||
Net income attributable to noncontrolling interests | (2,369) | 2,369 | ||||||||||
Accumulated other comprehensive income (loss) attributable to noncontrolling interests | ||||||||||||
Cumulative translation adjustments | (302) | |||||||||||
Net unrealized gain (loss) on non-trading securities | 0 | |||||||||||
Purchase/sale (disposition) of subsidiary shares, etc., net | 18,264 | |||||||||||
Other net change in noncontrolling interests | 9,217 | |||||||||||
Balance at end of year at Mar. 31, 2020 | ¥ 2,731,264 | ¥ 594,493 | ¥ 683,232 | ¥ 1,645,451 | ¥ (26,274) | ¥ (62,571) | ¥ 62,740 | ¥ (26,105) | ¥ (243,604) | ¥ 2,653,467 | ¥ 77,797 | |
[1] | Represents the adjustment to initially apply Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers” for the year ended March 31, 2019 and ASU 2016-02, “Leases” for the year ended March 31, 2020. |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - JPY (¥) ¥ in Millions | 12 Months Ended | ||||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |||
Cash flows from operating activities: | |||||
Net income (loss) | ¥ 219,367 | ¥ (94,711) | ¥ 224,292 | ||
Adjustments to reconcile net income (loss) to net cash used in operating activities: | |||||
Depreciation and amortization | 63,583 | 57,924 | 71,579 | ||
Impairment of goodwill | 0 | 81,372 | [1] | 0 | |
Stock-based compensation | 12,694 | 21,814 | 9,650 | ||
(Gain) loss on investments in equity securities | 14,726 | 6,983 | (2,683) | ||
(Gain) loss on investments in subsidiaries and affiliates | (72,841) | 5,719 | (66,982) | ||
Equity in earnings of affiliates, net of dividends received | (20,342) | (19,043) | (21,226) | ||
Loss on disposal of office buildings, land, equipment and facilities | (3,957) | 2,455 | 3,747 | ||
Deferred income taxes | (23,911) | 21,565 | 60,259 | ||
Changes in operating assets and liabilities: | |||||
Time deposits | (33,029) | 21,832 | (100,642) | ||
Deposits with stock exchanges and other segregated cash | [2] | (97,424) | 13,752 | (72,069) | |
Trading assets and private equity and debt investments | [3] | (2,754,743) | 925,384 | (239,331) | |
Trading liabilities | [3] | 428,997 | (143,141) | 227,302 | |
Securities purchased under agreements to resell, net of securities sold under agreements to repurchase | 2,224,371 | (3,274,866) | (453,239) | ||
Securities borrowed, net of securities loaned | 291,777 | 1,987,331 | 763,297 | ||
Other secured borrowings | 301,019 | 1,198 | 79,121 | ||
Loans and receivables, net of allowance for doubtful accounts | [3] | (1,358,242) | 157,599 | (1,006,580) | |
Payables | [3] | 788,007 | (63,683) | 209,460 | |
Bonus accrual | 16,202 | (46,602) | (2,957) | ||
Accrued income taxes, net | (2,787) | 8,241 | (5,842) | ||
Other, net | (9,410) | (32,288) | (122,846) | ||
Net cash used in operating activities | [2] | (15,943) | (361,165) | (445,690) | |
Cash flows from investing activities: | |||||
Payments for purchases of office buildings, land, equipment and facilities | (206,745) | (319,090) | (285,161) | ||
Proceeds from sales of office buildings, land, equipment and facilities | 209,197 | 262,908 | 224,220 | ||
Payments for purchases of investments in equity securities | 0 | 0 | (61) | ||
Proceeds from sales of investments in equity securities | 13,323 | 519 | 932 | ||
Decrease (increase) in loans receivable at banks, net | 43,920 | (74,048) | (105,387) | ||
Decrease (increase) in non-trading debt securities, net | (2,359) | 29,452 | 80,634 | ||
Business combinations or disposals, net | (2,484) | 0 | (13,125) | ||
Decrease (increase) in investments in affiliated companies, net | 160,799 | (8,290) | 43,849 | ||
Other, net | 685 | (3,954) | (2,073) | ||
Net cash provided by (used in) investing activities | 216,336 | (112,503) | (56,172) | ||
Cash flows from financing activities: | |||||
Increase in long-term borrowings | 2,364,260 | 2,142,212 | 2,314,609 | ||
Decrease in long-term borrowings | (2,402,621) | (1,625,516) | (1,964,657) | ||
Increase in short-term borrowings, net | 656,205 | 85,900 | 215,001 | ||
Increase (decrease) in deposits received at banks, net | (93,260) | 257,471 | (13,254) | ||
Proceeds from sales of common stock held in treasury | 285 | 313 | 764 | ||
Payments for repurchases of common stock held in treasury | (150,009) | (51,714) | (109,096) | ||
Payments for cash dividends | (58,416) | (47,475) | (70,199) | ||
Contribution from noncontrolling interests | 15,618 | 0 | 0 | ||
Net cash provided by financing activities | 332,062 | 761,191 | 373,168 | ||
Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents | [2] | (27,277) | 44,741 | (53,504) | |
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents | [2] | 505,178 | 332,264 | (182,198) | |
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year | [2] | 2,687,132 | 2,354,868 | 2,537,066 | |
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of year | [2] | 3,192,310 | 2,687,132 | 2,354,868 | |
Cash paid during the year for- | |||||
Interest | 677,160 | 700,855 | 473,758 | ||
Income tax payments, net | ¥ 55,592 | ¥ 27,204 | ¥ 49,449 | ||
[1] | For the year ended March 31, 2019, Nomura recognized impairment losses on goodwill of ¥81,372 million within the Wholesale segment. Nomura performed an impairment test based on Wholesale performance and changes in the operating environment, and impaired goodwill within the Wholesale segment. As a result, the balance of goodwill within the Wholesale segment as of March 31, 2019 was ¥nil. These impairment losses were recorded within Non-interest expense—Other in the consolidated statements of income. The fair values were determined based on a DCF method. | ||||
[2] | In accordance with ASU 2016-18 “Restricted Cash” which Nomura adopted on April 1, 2018, certain reclassification of amounts previously reported as cash, cash equivalents, restricted cash and restricted cash equivalents for the years ended March 31, 2018 have been made to conform to the current year presentation. | ||||
[3] | Due to changes in accounting policy which Nomura adopted on April 1, 2018, certain reclassifications of amounts previously reported have been made to conform to the current year presentation. See Note 1 “Summary of accounting policies: New accounting pronouncements adopted during the current year” in our consolidated financial statements included in this annual report. |
CONSOLIDATED STATEMENTS OF CA_2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract] | ||||
Cash and cash equivalents reported in Cash and cash equivalents | ¥ 3,191,889 | ¥ 2,686,659 | ¥ 2,354,639 | |
Restricted cash and restricted cash equivalents reported in Deposits with stock exchanges and other segregated cash | 421 | 473 | 229 | |
Total cash, cash equivalent, restricted cash and restricted cash equivalents | [1] | ¥ 3,192,310 | ¥ 2,687,132 | ¥ 2,354,868 |
[1] | In accordance with ASU 2016-18 “Restricted Cash” which Nomura adopted on April 1, 2018, certain reclassification of amounts previously reported as cash, cash equivalents, restricted cash and restricted cash equivalents for the years ended March 31, 2018 have been made to conform to the current year presentation. |
Summary of accounting policies
Summary of accounting policies | 12 Months Ended |
Mar. 31, 2020 | |
Accounting Policies [Abstract] | |
Summary of accounting policies | 1. Summary of accounting policies: Description of business— Nomura Holdings, Inc. (“Company”) and its broker-dealer, banking and other financial services subsidiaries provide investment, financing and related services to individual, institutional and government clients on a global basis. The Company and other entities in which it has a controlling financial interest are collectively referred to as “Nomura” within these consolidated financial statements. Nomura operates its business through various divisions based upon the nature of specific products and services, its main client base and its management structure. Nomura reports operating results through three business segments: Retail, Asset Management, and Wholesale. In its Retail segment, Nomura provides investment consultation services mainly to individual clients in Japan. In its Asset Management segment, Nomura develops and manages investment trusts, and provides investment advisory services. In its Wholesale segment, Nomura engages in the sales and trading of debt and equity securities, derivatives, and currencies on a global basis, and provides investment banking services such as the underwriting of debt and equity securities as well as mergers and acquisitions and financial advice. Basis of presentation— The accounting and financial reporting policies of the Nomura conform to accounting principles generally accepted in the United States (“U.S. GAAP”) as applicable to broker-dealers. These consolidated financial statements include the financial statements of the Company and other entities in which it has a controlling financial interest. Nomura initially determines whether it has a controlling financial interest in an entity by evaluating whether the entity is a variable interest entity (“VIE”) under Financial Accounting Standards Board (“FASB”) Accounting Standard Codification (“ASC”) 810 “ Consolidation For entities other than VIEs, Nomura is generally determined to have a controlling financial interest in an entity when it owns a majority of the voting interests. Equity investments in entities in which Nomura has significant influence over operating and financial decisions (generally defined as a holding of 20 to 50 percent of the voting stock of a corporate entity, or at least 3 percent of a limited partnership) are accounted for under the equity method of accounting (“equity method investments”) and reported within Other assets Investments in and advances to affiliated companies Financial Instruments Trading assets Private equity investments or Other assets—Other. Trading assets Equity investments Certain entities in which Nomura has a financial interest are investment companies under ASC 946 “ Financial Services—Investment Companies The Company’s principal subsidiaries include Nomura Securities Co., Ltd. (“NSC”), Nomura Securities International, Inc. (“NSI”), Nomura International plc (“NIP”) and Nomura Financial Products & Services, Inc. (“NFPS”). All material intercompany transactions and balances have been eliminated on consolidation. Certain reclassifications of previously reported amounts have been made to conform to the current year presentation. Use of estimates — Critical accounting estimates are those that are the most important accounting estimates used to prepare these consolidated financial statements and which require the most difficult, subjective and complex judgments by management. Such estimates determined by management include estimates regarding the fair value of financial instruments, the outcome of litigation and tax examinations, the recovery of the carrying value of goodwill, the allowance for doubtful accounts, the realization of deferred tax assets, the impairment of equity method investments and other non-financial assets and other matters that affect the reported amounts of assets and liabilities as well as the disclosures in these consolidated financial statements. Estimates, by their nature, are based on underlying assumptions which require management judgment and depend on the extent of available information. Actual results in future periods may differ from current estimates, which could have a material impact on these consolidated financial statements. The COVID-19 pandemic has impacted some of the critical accounting estimates used in these consolidated financial statements during the year ended March 31, 2020 and is expected to continue to impact these estimates in future periods. Assumptions around how long the COVID-19 pandemic will last and how long the economies and financial markets in the key jurisdictions in which Nomura and its clients operate will take to recover has, and will continue to, affect these estimates. The key assumptions and estimates impacted by COVID-19 include: • The ability of clients to perform on their contractual obligations to Nomura arising from financial instruments for determination of fair value measurements or allowances for doubtful accounts; • The volatility and dislocation in global financial markets for determination of fair value measurements; • The expected duration of declines in global equity markets for determination of fair value measurements and impairment of equity method investments; • The future use of non-financial assets within Nomura for determination of whether impairments are required; and • The future profitability of Nomura to realize deferred tax assets. Various references are made throughout the notes to these consolidated financial statements where critical accounting estimates based on management judgment have been made, the nature of the estimates, the underlying assumptions made by management used to derive those estimates and how the COVID-19 pandemic, has and is expected to continue to impact these estimates and therefore amounts reported in these consolidated financial statements. Fair value of financial instruments — A significant amount of Nomura’s financial assets and financial liabilities are carried at fair value, with changes in fair value recognized through the consolidated statements of income or the consolidated statements of comprehensive income. Use of fair value is either specifically required under U.S. GAAP or Nomura makes an election to use fair value for certain eligible items under the fair value option. Other financial assets and financial liabilities are carried at fair value on a nonrecurring basis, where the primary measurement basis is not fair value. Fair value is only used in specific circumstances after initial recognition, such as to measure impairment. In both cases, fair value is generally determined in accordance with ASC 820 “ Fair Value Measurements and Disclosures Fair value measurements The fair value of financial assets and financial liabilities of consolidated VIEs which meet the definition of collateralized financing entities are both measured using the more observable fair value of the financial assets and financial liabilities. Transfers of financial assets— Nomura accounts for the transfer of a financial asset as a sale when Nomura relinquishes control over the asset by meeting the following conditions: (a) the asset has been isolated from the transferor (even in bankruptcy or other receivership), (b) the transferee has the right to pledge or exchange the asset received, or if the transferee is an entity whose sole purpose is to engage in securitization or asset-backed financing activities, if, the holders of its beneficial interests have the right to pledge or exchange the beneficial interests held and (c) the transferor has not maintained effective control over the transferred asset. In connection with its securitization activities, Nomura utilizes special purpose entities (“SPEs”) to securitize commercial and residential mortgage loans, government and corporate securities and other types of financial assets. Nomura’s involvement with SPEs includes structuring and underwriting, distributing and selling debt instruments and beneficial interests issued by SPEs to investors. Nomura derecognizes financial assets transferred in securitizations provided that Nomura has relinquished control over such assets and does not consolidate the SPE. Nomura may obtain or retain an interest in the financial assets, including residual interests in the SPEs dependent upon prevailing market conditions. Any such interests are accounted for at fair value and reported within Trading assets Revenue—Net gain on trading Foreign currency translation— The financial statements of the Company’s subsidiaries are measured using their functional currency which is the currency of the primary economic environment in which the entity operates. All assets and liabilities of subsidiaries which have a functional currency other than Japanese Yen are translated into Japanese Yen at exchange rates in effect at the balance sheet date, and all revenue and expenses are translated at the average exchange rates for the respective years and the resulting translation adjustments are accumulated and reported within Accumulated other comprehensive income (loss) Foreign currency assets and liabilities are translated at exchange rates in effect at the balance sheet date and the resulting translation gains or losses are credited or charged to the consolidated statements of income. Revenue from services provided to clients— Nomura earns revenue through fees and commissions from providing financial services to customers across all three business divisions. These services primarily include trade execution and clearing services, financial advisory services, asset management services, underwriting services, syndication services and distribution services. Revenues are recognized when or as the customer obtains control of the service provided by Nomura which depends on when each of the key distinct substantive promises made by Nomura within the contract with the customer (“performance obligations”) are satisfied. Such performance obligations are generally satisfied at a particularly point in time or, if certain criteria are met, over a period of time. Revenues from providing trade execution and clearing services are reported in the consolidated statements of income within Revenue—Commissions, Revenue—Fees from investment banking Revenue — Asset management and portfolio service fees Costs to obtain or fulfill the underlying contract to provide services to a customer are deferred as assets if certain criteria are met. These deferred costs, which are reported in the consolidated balance sheets within Other assets Trading assets and trading liabilities Trading assets and Trading liabilities Revenue—Net gain on trading Certain trading liabilities are held to economically hedge the price risk of investments in equity securities held for operating purposes. Changes in fair value of these trading liabilities are reported within Revenue—Gain (loss) on investments in equity securities Collateralized agreements and collateralized financing— Collateralized agreements Securities purchased under agreements to resell Securities borrowed Collateralized financing Securities sold under agreements to repurchase Securities loaned Reverse repurchase and repurchase agreements principally involve the buying or selling of securities under agreements with clients to resell or repurchase these securities to or from those clients, respectively. These transactions are generally accounted for as collateralized agreements or collateralized financing transactions and are recognized in the consolidated balance sheets at the amount for which the securities were originally acquired or sold. Certain reverse repurchase and repurchase agreements are carried at fair value through election of the fair value option. No allowance for credit losses is generally recognized against reverse repurchase agreements due to the strict collateralization requirements. Nomura also enters into Gensaki Repo transactions which are the standard type of repurchase agreement used in Japanese financial markets. Gensaki Repo transactions contain margin requirements, rights of security substitution, and certain restrictions on the client’s right to sell or repledge the transferred securities. Gensaki Repo transactions are accounted for as collateralized agreements or collateralized financing transactions and are recognized on the consolidated balance sheets at the amount that the securities were originally acquired or sold. Reverse repurchase agreements and repurchase agreements accounted for as collateralized agreements and collateralized financing transactions, respectively, entered into with the same counterparty and documented under a master netting agreement are offset in the consolidated balance sheets where the specific criteria defined by ASC 210-20 Balance Sheet—Offsetting 210-20”) close-out Securities borrowing and lending transactions are generally accounted for as collateralized agreements and collateralized financing transactions, respectively. These transactions are generally cash collateralized and are recognized on the consolidated balance sheets at the amount of cash collateral advanced or received. No allowance for credit losses is generally recognized against securities borrowing transactions due to the strict collateralization requirements. Securities borrowing and lending transactions accounted for as collateralized agreements and collateralized financing transactions, respectively, entered into with the same counterparty and documented under a master netting agreement are also offset in the consolidated balance sheets where the specific criteria defined by ASC 210-20 Other secured borrowings Trading balances of secured borrowings Transfers and Servicing Long-term borrowings Securitizations and Variable Interest Entities Borrowings All Nomura-owned securities pledged to counterparties where the counterparty has the right to sell or repledge the securities, including collateral transferred under Gensaki Repo transactions, are reported parenthetically within Trading assets as Securities pledged as collateral See Note 5 “ Collateralized transactions Derivatives Nomura uses a variety of derivative financial instruments, including futures, forwards, swaps and options, for both trading and non-trading Trading assets or Trading liabilities Short-term borrowings or Long-term borrowings Changes in fair value are recognized either through the consolidated statements of income or the consolidated statements of comprehensive income depending on the purpose for which the derivatives are used. Derivative assets and liabilities with the same counterparty documented under a master netting agreement are offset in the consolidated balance sheets where the specific criteria defined by ASC 210-20 Derivatives and Hedging close-out Exchange traded and centrally cleared OTC derivatives typically involve daily variation margin payments and receipts which reflect changes in the fair value of the related derivative. Such variation margin amounts are accounted for as either a partial settlement of the derivative or as a separate cash collateral receivable or payable depending on the legal form of the arrangement. Trading Derivative financial instruments used for trading purposes, including bifurcated embedded derivatives, are carried at fair value with changes in fair value reported in the consolidated statements of income within Revenue—Net gain on trading Non-trading In addition to its trading activities, Nomura uses derivative financial instruments for other than trading purposes such as to manage risk exposures arising from recognized assets and liabilities, forecasted transactions and firm commitments. Certain derivatives used for non-trading Nomura designates certain derivative financial instruments as fair value hedges of interest rate risk and foreign exchange risk arising from specific financial liabilities and foreign currency denominated non-trading Interest expense Revenue Other Derivative financial instruments designated as hedges of the net investment in foreign operations related to specific subsidiaries with non-Japanese Revenue—Other Accumulated other comprehensive income (loss) See Note 3 “ Derivative instruments and hedging activities Loans receivable— Loans receivable are loans which management intends to hold for the foreseeable future. Loans receivable are either carried at fair value or at amortized cost. Interest earned on loans receivable is generally reported in the consolidated statements of income within Revenue—Interest and dividends Loans receivable carried at fair value Certain loans which are risk managed on a fair value basis are carried at fair value through election of the fair value option. Nomura makes this election to mitigate volatility in the consolidated statements of income caused by the difference in measurement basis that would otherwise exist between the loans and the derivatives used to risk manage those loans. Changes in the fair value of loans receivable carried at fair value are reported in the consolidated statements of income within Revenue—Net gain on trading Loans receivable carried at amortized cost Loans receivable which are not carried at fair value are carried at amortized cost. Amortized cost represents cost adjusted for deferred fees and direct costs, unamortized premiums or discounts on purchased loans and after deducting any applicable allowance for credit losses when loans receivable are identified as impaired. Loan origination fees, net of direct origination costs, are amortized to Revenue—Interest and dividends Modifications of loans receivable where the borrower is in financial difficulty and Nomura has granted a financial concession are typically accounted for as troubled debt restructurings (“TDRs”) and the loan receivable classified as impaired with recognition of an appropriate allowance for credit losses. However, consistent with guidance issued by U.S. banking regulators in March 2020 as a result of the COVID-19 pandemic, certain modifications of loans receivable which meet the above criteria have not been accounted for TDRs nor the loan classified as impaired provider the borrower was current with payments prior to the COVID-19 pandemic, the nature of the concession is short-term and only permits a payment delay, waiver of fees or extension of repayment terms. See Note 7 “ Financing receivables Other receivables— Receivables from customers on client securities transactions, amounts receivable from customers Receivables from other than customers Receivables from other than customers These amounts are carried at contractual amounts due less any applicable allowance for credit losses which reflects management’s best estimate of probable losses incurred within these receivables which have been specifically identified as impaired. The allowance for credit losses is reported in the consolidated balance sheets within Allowance for doubtful accounts Loan commitments— Unfunded loan commitments written by Nomura are accounted off-balance These loan commitments are generally accounted for in a manner consistent with the accounting for the loan receivable upon funding. Where the loan receivable will be classified as a trading asset or will be elected for the fair value option, the loan commitment is also generally held at fair value, with changes in fair value reported in the consolidated statements of income within Revenue—Net gain on trading For loan commitments where the loan will be held for the foreseeable future, Nomura recognizes an allowance for credit losses which is reported within Other liabilities—other Loan commitment fees are generally deferred and recognized over the term Payables and deposits— Payables to customers Payables to other than customers Deposits received at banks Office buildings, land, equipment and facilities— Office buildings, land, equipment and facilities, owned and held for use by Nomura are stated at cost, net of accumulated depreciation and amortization, except for land, which is stated at cost. Significant renewals and additions are capitalized at cost. Maintenance, repairs and minor renewals are expensed as incurred in the consolidated statements of income. Leases and subleases entered into by Nomura as either lessor or lessee are classified as either operating or finance leases on inception date in accordance with ASC 842 “ Leases right-of-use Other assets—Office buildings, land, equipment and facilities Other liabilities Lease liabilities are initially measured at present value of the future minimum lease payments over the expected lease term. The future minimum lease payments are discounted using a relevant Nomura incremental borrowing rate as derived from information available at lease commencement date. The expected lease term is generally determined based on the contractual maturity of the lease, and adjusted for periods covered by options to extend or terminate the lease when Nomura is reasonably certain to exercise those options. ROU assets are initially measured at the amount of lease liabilities, and adjusted for any prepaid lease payments, initial direct costs incurred and any lease incentives received. After lease commencement date, for operating leases Nomura as lessee recognizes lease expense over the lease term generally on a straight-line basis within Occupancy and related depreciation Information processing and communications The following table presents a breakdown of owned and leased office buildings, land, equipment Millions of yen March 31 2019 2020 Land ¥ 49,474 ¥ 49,214 Office buildings 103,423 71,468 Equipment and facilities 75,206 36,279 Software 121,245 111,031 Construction in progress 17 1,738 Operating lease ROU assets — 170,782 Total ¥ 349,365 ¥ 440,512 Depreciation and amortization charges of owned assets are generally computed using the straight-line method and recognized over the estimated useful lives of each asset. The estimated useful life of an asset takes into consideration technological change, normal deterioration and actual physical usage by Nomura. Leasehold improvements are depreciated over the shorter of their useful life or the term of the lease. The estimated useful lives for significant asset classes are as follows: Office buildings 3 to 50 years Equipment and facilities 2 to 20 years Software 3 to 10 years Depreciation and amortization charges of depreciable assets are reported within Non-interest expenses—Information processing and communications and million, and in Non-interest expenses—Occupancy and related depreciation Long-lived assets, including ROU assets See Note 8 “Leases” for further information. Investments in equity securities— Nomura holds minority stakes in the equity securities of unaffiliated Japanese financial institutions and corporations in order to promote existing and potential business relationships. These companies often have similar investments in Nomura. Such cross-holdings are a customary business practice in Japan and provide a way for companies to manage shareholder relationships. These investments, which Nomura refers to as being held for operating purposes, are carried at fair value and reported within Other assets—Investments in equity securities Revenue—Gain (loss) on investments in equity securities Other non-trading debt and equity securities— Certain non-trading non-trading Non-trading non-trading Other assets—Non-trading debt securities Other assets—Other Revenue—Other non-trading Revenue—Other Short-term and long-term borrowings— Short-term borrowings are defined as borrowings which are due on demand, which have a contractual maturity of one year or less at issuance date, or which have a longer contractual maturity but which contain features outside of Nomura’s control that allows the investor to demand redemption within one year from original issuance date. Short-term and long-term borrowings primarily consist of commercial paper, bank borrowings, and certain structured notes issued by Nomura and SPEs consolidated by Nomura, and financial liabilities recognized in transfers of financial assets which are accounted for as financings rather than sales under ASC 860 (“secured financing transactions”). Of these financial liabilities, certain structured notes and secured financing transactions are accounted for at fair value on a recurring basis through election of the fair value option. Other short and long-term borrowings are carried at amortized cost. Structured notes are debt securities which contain embedded features (often meeting the accounting definition of a derivative) that alter the return to the investor from simply receiving a fixed or floating rate of interest to a return that depends upon some other variable(s) such as an equity or equity index, commodity price, foreign exchange rate, credit rating of a third party or more complex interest rate calculation. Structured borrowings are borrowings that have similar characteristics as structured notes. All structured notes issued by Nomura and certain structured borrowings issued by Nomura on or after April 1, 2018 are carried at fair value on a recurring basis through election of the fair value option. This blanket election for structured notes and certain structured borrowings are made primarily to mitigate the volatility in the consolidated statements of income caused by differences in the measurement basis for structured notes and the derivatives used to risk manage those positions and to generally simplify the accounting Nomura applies to these financial instruments. Changes in the fair value of structured notes elected for the fair value option except for those related to structured notes and attributable to Nomura’s own creditworthiness, are reported within Revenue—Net gain on trading See Note 11 “ Borrowings Income taxes— Deferred tax assets and liabilities are recognized to reflect the expected future tax consequences of operating loss carryforwards, tax credit carryforwards and temporary differences between the carrying amounts for financial reporting purposes and the tax bases of assets and liabilities based upon enacted tax laws and tax rates. Nomura recognizes deferred tax assets to the extent it believes that it is more likely than not that a benefit will be realized. A valuation allowance is established against deferred tax assets for tax benefits available to Nomura that are not deemed more likely than not to be realized. Deferred tax assets and deferred tax liabilities that relate to the same tax-paying Other assets—Other Other liabilities Nomura recognizes and measures unrecognized tax benefits based on Nomura’s estimate of the likelihood, based on technical merits, that tax positions will be sustained upon examination based on the facts and circumstances and information available at the end of each period. Nomura adjusts the level of unrecognized tax benefits when there is more information available, or when an event occurs requiring a change. The reassessment of unrecognized tax benefits could have a material impact on Nomura’s effective tax rate in the period in which it occurs. Nomura recognizes income tax-related Income tax expense See Note 16 “ Income taxes Stock-based and other compensation awards— Stock-based awards issued by Nomura to senior management and other employees are classified as either equity or liability awards depending on the terms of the award. Stock-based awards such as Stock Acquisition Rights (“SARs”) and Restricted Stock Units (“RSUs”) which are expected to be settled by the delivery of the Company’s common stock are classified as equity awards. For these awards, total compensation cost is generally fixed at the grant date and measured using the grant-date fair value of the award, net of any amount the employee is obligated to pay and estimated forfeitures. Stock-based awards such as Notional Stock Units (“NSUs”) and Collared Notional Stock Units (“CSUs”) which are expected to be settled in cash are classified as liability awards. Other awards such as Notional Index Units (“NIUs”) which are linked to a world stock index quoted by Morgan Stanley Capital International and which are expected to be cash settled are also effectively classified as liability awards. Liability awards are remeasured to fair value at each balance sheet date, net of estimated forfeitures with the final measurement of cumulative compensation cost equal to the settlement amount. For both equity and liability awards, fair value is determined either by using option pricing models, the market price of the Company’s common stock or the price of the third party index, as appropriate. Compensation cost is recognized in the consolidated statements of income over the requisite service period, which generally is equal to the contractual vesting period. Where an award has graded vesting, compensation expense is recognized using the accelerated recognition method. Certain deferred compensation awards granted since May 2013 include “Full Career Retirement” (“FCR”) provisions which permit recipients of the awards to continue to vest in the awards upon voluntary termination or by claiming FCR during a pre-defined See Note 14 “ Deferred compensation awards Earnings per share— The computation of basic earnings per share is based on the weighted average number of shares outstanding during the year. Diluted earnings per share reflects the assumed conversion of all dilutive securities based on the most advantageous conversion rate or exercise price available to the investors, and assuming conversion of convertible debt under the if-converted See Note 12 “ Earnings per share Cash and cash equivalents— Nomura defines cash and cash equivalents as cash on hand and demand deposits with banks. Goodwill and intangible assets— Goodwill is recognized upon completion of a business combination as the difference between the purchase price and the fair value of the net assets acquired. Subsequent to initial recognition, goodwill is not amortized but is tested for impairment at a reporting unit level during the fourth quarter of each fiscal year, or more frequently during earlier interim periods if events or circumstances indicate there may be impairment. Nomura’s reporting units are at the same level as or one level below its business segments. Nomura tests goodwill of each separate reporting unit by initially qualitatively assessing whether events and circumstances indicate that it is more likely than not (i.e. greater than 50%) that a reporting unit’s fair value is less than its carrying amount. If such assessment indicates fair value is not less than the carrying value, the reporting unit is deemed not to be impaired and no further analysis is required. If it is more likely than not that the fair value of the reporting unit is below its carrying value, a quantitative two-step In the first step, the current estimated fair value of the reporting unit is compared with its carrying value, including goodwill. If the fair value is less than the carrying value, then a second step is performed. In the second step, the implied current fair value of the reporting unit’s goodwill is determined by comparing the fair value of the reporting unit to the fair value of the net assets of the reporting unit, as if the reporting unit were being acquired in a business combination. An impairment loss is recognized if the carrying value of goodwill exceeds its implied current fair value. Intangible assets not subject to amortization (“indefinite-lived intangible assets”) are tested for impairment on an individual asset basis during the fourth quarter of each fiscal year, or more frequently during earlier interim periods if events or circumstances indicate there may be impairment. Similar to goodwill, Nomura tests an indefinite-lived intangible asset by initially qualitatively assessing whether events or circumstances indicate that it is more likely than not that the fair value of the intangible asset is less than its carrying amount. If such assessment indicates fair value is not less than the carrying value, the intangible asset is deemed not to be impaired and no further analysis is required. If it is more likely than not that the fair value of the intangible asset is below its carrying value, the current estimated fair value of the intangible asset is compared with its carrying value. An impairment loss is recognized if the carrying value of the intangible asset exceeds its estimated fair value. Intangible assets with finite lives (“finite-lived intangible assets”) are amortized over their estimated useful lives and tested for impairment either individually or with other assets (“asset group”) when events and circumstances indicate that the carrying val |
Fair value measurements
Fair value measurements | 12 Months Ended |
Mar. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair value measurements | 2. Fair value measurements: The fair value of financial instruments A significant amount of Nomura’s financial instruments are measured at fair value. Financial assets measured at fair value on a recurring basis are reported in the consolidated balance sheets within Trading assets and private equity and debt investments, Loans and receivables, Collateralized agreements Other assets Trading liabilities, Short-term borrowings, Payables and deposits, Collateralized financing, Long-term borrowings Other liabilities. Other financial assets and financial liabilities are measured at fair value on a nonrecurring basis, where the primary measurement basis is not fair value but where fair value is used in specific circumstances after initial recognition, such as to measure impairment. In all cases, fair value is determined in accordance with ASC 820 “ Fair Value Measurements and Disclosures Fair value is usually determined on an individual financial instrument basis consistent with the unit of account of the financial instrument. However, certain financial instruments managed on a portfolio basis are valued as a portfolio, namely based on the price that would be received to sell a net long position (i.e., a net financial asset) or transfer a net short position (i.e., a net financial liability) consistent with how market participants would price the net risk exposure at the measurement date. Financial assets measured at fair value also include investments in certain funds where, as a practical expedient, fair value is determined on the basis of net asset value per share (“NAV per share”) if the NAV per share is calculated in accordance with certain industry standard principles. Increases and decreases in the fair value of assets and liabilities will significantly impact Nomura’s position, performance, liquidity and capital resources. As explained below, valuation techniques applied contain inherent uncertainties and Nomura is unable to predict the accurate impact of future developments in the market. The valuation of financial instruments is more difficult during periods of market stress as a result of greater volatility and reduced price transparency, which has been the case during the COVID-19 pandemic in 2020, and may therefore require the greater use of judgement in the determination of fair value. Where appropriate, Nomura uses economic hedging strategies to mitigate its risk, although these hedges are also subject to unpredictable movements in the market. Valuation methodology for financial instruments carried at fair value on a recurring basis The fair value of financial instruments is based on quoted market prices including market indices, broker or dealer quotations or an estimation by management of the expected exit price under current market conditions. Various financial instruments, including cash instruments and over-the-counter bid-offer Where quoted prices are available in active markets, no valuation adjustments are taken to modify the fair value of assets or liabilities marked using such prices. Other instruments may be measured using valuation techniques, such as valuation pricing models incorporating observable valuation inputs, unobservable parameters or a combination of both. Valuation pricing models use valuation inputs which would be considered by market participants in valuing similar financial instruments. Valuation pricing models and their underlying assumptions impact the amount and timing of unrealized and realized gains and losses recognized, and the use of different valuation pricing models or underlying assumptions could produce different financial results. Valuation uncertainty results from a variety of factors, including the valuation technique or model selected, the quantitative assumptions used within the valuation model, the inputs into the model, as well as other factors. Valuation adjustments are used to reflect the assessment of this uncertainty. Common valuation adjustments include model reserves, credit adjustments, close-out The level of adjustments is largely judgmental and is based on an assessment of the factors that management believe other market participants would use in determining the fair value of similar financial instruments. The type of adjustments taken, the methodology for the calculation of these adjustments, and the valuation inputs for these calculations are reassessed periodically to reflect current market practice and the availability of new information. For example, the fair value of certain financial instruments includes adjustments for credit risk; both with regards to counterparty credit risk on positions held and Nomura’s own creditworthiness on positions issued. Credit risk on financial assets is significantly mitigated by credit enhancements such as collateral and netting arrangements. Any net credit exposure is measured using available and applicable valuation inputs for the relevant counterparty. The same approach is used to measure the credit exposure on Nomura’s financial liabilities as is used to measure counterparty credit risk on Nomura’s financial assets. Such valuation pricing models are calibrated to the market on a regular basis and inputs used are adjusted for current market conditions and risks. The Valuation Model Validation Group (“VMVG”) within Nomura’s Risk Management Department reviews pricing models and assesses model appropriateness and consistency independently of the front office. The model reviews consider a number of factors about a model’s suitability for valuation and sensitivity of a particular product. Valuation models are calibrated to the market on a periodic basis by comparison to observable market pricing, comparison with alternative models and analysis of risk profiles. As explained above, any changes in fixed income, equity, foreign exchange and commodity markets can impact Nomura’s estimates of fair value in the future, potentially affecting trading gains and losses. Where financial contracts have longer maturity dates, Nomura’s estimates of fair value may involve greater subjectivity due to the lack of transparent market data. Fair value hierarchy All financial instruments measured at fair value, including those measured at fair value using the fair value option, have been categorized into a three-level hierarchy (“fair value hierarchy”) based on the transparency of valuation inputs used by Nomura to estimate fair value. A financial instrument is classified in the fair value hierarchy based on the lowest level of input that is significant to the fair value measurement of the financial instrument. The three levels of the fair value hierarchy are defined as follows, with Level 1 representing the most transparent inputs and Level 3 representing the least transparent inputs: Level 1: Observable valuation inputs that reflect quoted prices (unadjusted) for identical financial instruments traded in active markets at the measurement date. Level 2: Valuation inputs other than quoted prices included within Level 1 that are either directly or indirectly observable for the financial instrument. Level 3: Unobservable valuation inputs which reflect Nomura assumptions and specific data. The availability of valuation inputs observable in the market varies by product and can be affected by a variety of factors. Significant factors include, but are not restricted to the prevalence of similar products in the market, especially for customized products, how established the product is in the market, for example, whether it is a new product or is relatively mature, and the reliability of information provided in the market which would depend, for example, on the frequency and volume of current data. A period of significant change in the market may reduce the availability of observable data. Under such circumstances, financial instruments may be reclassified into a lower level in the fair value hierarchy. Significant judgments used in determining the classification of financial instruments include the nature of the market in which the product would be traded, the underlying risks, the type and liquidity of market data inputs and the nature of observed transactions for similar instruments. Where valuation models include the use of valuation inputs which are less observable or unobservable in the market, significant management judgment is used in establishing fair value. The valuations for Level 3 financial instruments, therefore, involve a greater degree of judgment than those valuations for Level 1 or Level 2 financial instruments and has become more prevalent during the COVID-19 pandemic. Certain criteria management use to determine whether a market is active or inactive include the number of transactions, the frequency that pricing is updated by other market participants, the variability of price quotes among market participants, and the amount of publicly available information. The following tables present the amounts of Nomura’s financial instruments measured at fair value on a recurring basis as of March 31, 2019 and 2020 within the fair value hierarchy. Billions of yen March 31, 2019 Level 1 Level 2 Level 3 Counterparty and Cash Collateral Netting (1) Balance as of March 31, 2019 Assets: Trading assets and private equity and debt investments (2) Equities (3) ¥ 1,392 ¥ 1,065 ¥ 13 ¥ — ¥ 2,470 Private equity and debt investments (4) — — 26 — 26 Japanese government securities 1,987 — — — 1,987 Japanese agency and municipal securities — 214 1 — 215 Foreign government, agency and municipal securities 2,650 1,544 5 — 4,199 Bank and corporate debt securities and loans for trading purposes — 1,128 160 — 1,288 Commercial mortgage-backed securities (“CMBS”) — 1 2 — 3 Residential mortgage-backed securities (“RMBS”) — 2,761 3 — 2,764 Issued/Guaranteed by government sponsored entity — 2,706 — — 2,706 Other — 55 3 — 58 Real estate-backed securities — — 69 — 69 Collateralized debt obligations (“CDOs”) and other (5) — 55 19 — 74 Investment trust funds and other 349 53 1 — 403 Total trading assets and private equity and debt investments 6,378 6,821 299 — 13,498 Derivative assets (6) Equity contracts 1 806 44 — 851 Interest rate contracts 12 8,610 10 — 8,632 Credit contracts 2 500 31 — 533 Foreign exchange contracts 0 4,870 42 — 4,912 Commodity contracts 1 0 — — 1 Netting — — — (14,077 ) (14,077 ) Total derivative assets 16 14,786 127 (14,077 ) 852 Subtotal ¥ 6,394 ¥ 21,607 ¥ 426 ¥ (14,077 ) ¥ 14,350 Loans and receivables (7) — 544 129 — 673 Collateralized agreements (8) — 615 33 — 648 Other assets Non-trading 138 323 — — 461 Other (2)(3) 416 10 166 — 592 Total ¥ 6,948 ¥ 23,099 ¥ 754 ¥ (14,077 ) ¥ 16,724 Liabilities: Trading liabilities Equities ¥ 1,622 ¥ 198 ¥ 0 ¥ — ¥ 1,820 Japanese government securities 1,264 — — — 1,264 Japanese agency and municipal securities — 3 — — 3 Foreign government, agency and municipal securities 2,906 927 0 — 3,833 Bank and corporate debt securities — 319 0 — 319 Residential mortgage-backed securities (“RMBS”) — 0 — — 0 Collateralized debt obligations (“CDOs”) and other (5) — 3 — — 3 Investment trust funds and other 121 42 — — 163 Total trading liabilities 5,913 1,492 0 — 7,405 Derivative liabilities (6) Equity contracts 1 867 52 — 920 Interest rate contracts 6 8,228 64 — 8,298 Credit contracts 3 422 39 — 464 Foreign exchange contracts — 4,820 22 — 4,842 Commodity contracts 1 0 0 — 1 Netting — — — (13,710 ) (13,710 ) Total derivative liabilities 11 14,337 177 (13,710 ) 815 Subtotal ¥ 5,924 ¥ 15,829 ¥ 177 ¥ (13,710 ) ¥ 8,220 Short-term borrowings (9) ¥ — ¥ 332 ¥ 31 ¥ — ¥ 363 Payables and deposits (10) — 0 0 — 0 Collateralized financing (8) — 291 — — 291 Long-term borrowings (9)(11)(12) 11 3,024 535 — 3,570 Other liabilities (13) 276 22 0 — 298 Total ¥ 6,211 ¥ 19,498 ¥ 743 ¥ (13,710 ) ¥ 12,742 Billions of yen March 31, 2020 Level 1 Level 2 Level 3 Counterparty and Cash Collateral Netting (1) Balance as of March 31, 2020 Assets: Trading assets and private equity and debt investments (2) Equities (3) ¥ 1,193 ¥ 908 ¥ 14 ¥ — ¥ 2,115 Private equity and debt investments (4) — 7 31 — 38 Japanese government securities 1,826 — — — 1,826 Japanese agency and municipal securities — 106 2 — 108 Foreign government, agency and municipal securities 3,257 2,000 8 — 5,265 Bank and corporate debt securities and loans for trading purposes — 1,266 228 — 1,494 Commercial mortgage-backed securities (“CMBS”) — 0 1 — 1 Residential mortgage-backed securities (“RMBS”) — 3,626 62 — 3,688 Issued/Guaranteed by government sponsored entity — 3,602 14 — 3,616 Other — 24 48 — 72 Real estate-backed securities — — 94 — 94 Collateralized debt obligations (“CDOs”) and other (5) — 21 32 — 53 Investment trust funds and other 204 44 0 — 248 Total trading assets and private equity and debt investments 6,480 7,978 472 — 14,930 Derivative assets (6) Equity contracts 4 1,869 48 — 1,921 Interest rate contracts 55 13,551 23 — 13,629 Credit contracts 3 318 86 — 407 Foreign exchange contracts 0 5,183 41 — 5,224 Commodity contracts 9 0 — — 9 Netting — — — (19,248 ) (19,248 ) Total derivative assets 71 20,921 198 (19,248 ) 1,942 Subtotal ¥ 6,551 ¥ 28,899 ¥ 670 ¥ (19,248 ) ¥ 16,872 Loans and receivables (7) — 709 96 — 805 Collateralized agreements (8) — 534 15 — 549 Other assets Non-trading 123 332 — — 455 Other (2)(3) 252 146 168 — 566 Total ¥ 6,926 ¥ 30,620 ¥ 949 ¥ (19,248 ) ¥ 19,247 Liabilities: Trading liabilities Equities ¥ 1,412 ¥ 152 ¥ 0 ¥ — ¥ 1,564 Japanese government securities 1,108 — — — 1,108 Japanese agency and municipal securities — 0 — — 0 Foreign government, agency and municipal securities 2,116 1,114 0 — 3,230 Bank and corporate debt securities — 272 1 — 273 Residential mortgage-backed securities (“RMBS”) — 3 — — 3 Collateralized debt obligations (“CDOs”) and other (5) — 1 1 — 2 Investment trust funds and other 409 148 0 — 557 Total trading liabilities 5,045 1,690 2 — 6,737 Derivative liabilities (6) Equity contracts 7 1,972 29 — 2,008 Interest rate contracts 18 13,125 77 — 13,220 Credit contracts 14 356 87 — 457 Foreign exchange contracts 0 5,071 34 — 5,105 Commodity contracts 5 1 — — 6 Netting — — — (18,987 ) (18,987 ) Total derivative liabilities 44 20,525 227 (18,987 ) 1,809 Subtotal ¥ 5,089 ¥ 22,215 ¥ 229 ¥ (18,987 ) ¥ 8,546 Short-term borrowings (9) ¥ — ¥ 348 ¥ 29 ¥ — ¥ 377 Payables and deposits (10) — 14 1 — 15 Collateralized financing (8) — 247 — — 247 Long-term borrowings (9)(11)(12) 2 3,291 409 — 3,702 Other liabilities (13) 170 129 0 — 299 Total ¥ 5,261 ¥ 26,244 ¥ 668 ¥ (18,987 ) ¥ 13,186 (1) Represents the amount offset under counterparty netting of derivative assets and liabilities as well as cash collateral netting against net derivatives. (2) Certain investments that are measured at fair value using net asset value per share as a practical expedient have not been classified in the fair value hierarchy. As of March 31, 2019 and March 31, 2020, the fair values of these investments which are included in Trading assets and private equity and debt investments Other assets—Others (3) Includes equity investments that would have been accounted for under the equity method had Nomura not chosen to elect the fair value option. (4) Private equity and debt investments non-traded (5) Includes collateralized loan obligations (“CLOs”) and asset-backed securities (“ABS”) such as those secured on credit card loans, auto loans and student loans. (6) Each derivative classification includes derivatives with multiple risk underlyings. For example, interest rate contracts include complex derivatives referencing interest rate risk as well as foreign exchange risk or other factors such as prepayment rates. Credit contracts include credit default swaps as well as derivatives referencing corporate and government debt securities. (7) Includes loans for which the fair value option has been elected. (8) Includes collateralized agreements or collateralized financing for which the fair value option has been elected. (9) Includes structured notes for which the fair value option has been elected. (10) Includes embedded derivatives bifurcated from deposits received at banks. If unrealized gains are greater than unrealized losses, deposits are reduced by the excess amount. (11) Includes embedded derivatives bifurcated from issued structured notes. If unrealized gains are greater than unrealized losses, borrowings are reduced by the excess amount. (12) Includes liabilities recognized from secured financing transactions that are accounted for as financings rather than sales. Nomura elected the fair value option for these liabilities. (13) Includes loan commitments for which the fair value option has been elected. Valuation techniques by major class of financial instrument The valuation techniques used by Nomura to estimate fair value for major classes of financial instruments, together with the significant inputs which determine classification in the fair value hierarchy, are as follows. Equities Other assets Other assets mid-market Private equity and debt investments rate discounted at a weighted average cost of capital (“WACC”). Market multiple valuation techniques include comparables such as Enterprise Value/earnings before interest, taxes, depreciation and amortization (“EV/EBITDA”) ratios, Price/Earnings (“PE”) ratios, Price/Book ratios, Price/Embedded Value ratios and other multiples based on relationships between numbers reported in the financial statements of the investee and the price of comparable companies. A liquidity discount may also be applied to either a DCF or market multiple valuation to reflect the specific characteristics of the investee. The liquidity discount includes considerations for various uncertainties in the model and inputs to valuation. Where possible these valuations are compared with the operating cash flows and financial performance of the investee or properties relative to budgets or projections, price/earnings data for similar quoted companies, trends within sectors and/or regions and any specific rights or terms associated with the investment, such as conversion features and liquidation preferences. Private equity and debt investments are generally classified in Level 3 since the valuation inputs such as those mentioned above are usually unobservable. Government, agency and municipal securities non-G7 Bank and corporate debt securities The fair value of bank and corporate debt securities is primarily determined using DCF valuation techniques but also using broker or dealer quotations and recent market transactions of identical or similar debt securities, if available. Consideration is given to the nature of the broker and dealer quotations, namely whether these are indicative or executable, the number of available quotations and how these quotations compare to any available recent market activity or alternative pricing sources. The significant valuation inputs used for DCF valuations are yield curves, asset swap spreads, recovery rates and credit spreads of the issuer. Bank and corporate debt securities are generally classified in Level Commercial mortgage-backed securities (“CMBS”) Residential mortgage-backed securities (“RMBS”) Real estate-backed securities given to the nature of the broker and dealer quotations, namely whether these are indicative or executable, the number of available quotations and how these quotations compare to any available recent market activity or alternative pricing sources. Where all significant inputs are observable, the securities will be classified in Level 2. For certain securities, no direct pricing sources or comparable securities or indices may be available. These securities are valued using DCF or valuation techniques and are classified in Level 3 as the valuation includes significant unobservable valuation inputs such as yields or loss severities. Collateralized debt obligations (“CDOs”) and other Investment trust funds and other Investment trust funds and other Derivatives—Equity contracts Derivatives—Interest rate contracts derivatives is determined through DCF valuation techniques as well as option models such as Black-Scholes and Monte Carlo simulation. The significant valuation inputs used include interest rates, forward foreign exchange (“FX”) rates, volatilities and correlations. Valuation adjustments are also made to model valuations in order to reflect counterparty credit risk on derivative assets and Nomura‘s own creditworthiness on derivative liabilities. OTC interest rate derivatives are generally classified in Level 2 because all significant valuation inputs and adjustments are observable or market-corroborated. Certain less liquid vanilla or more complex OTC interest rate derivatives are classified in Level 3 where interest rate, volatility or correlation valuation inputs are significant and unobservable. Derivatives—Credit contracts Derivatives—Foreign exchange contracts Nomura includes valuation adjustments in its estimation of fair value of certain OTC derivatives relating to funding costs associated with these transactions to be consistent with how market participants in the principal market for these derivatives would determine fair value. Loans Collateralized agreements and Collateralized financing techniques. The significant valuation inputs used include interest rates and collateral funding spreads such as general collateral or special rates. Reverse repurchase and repurchase agreements are generally classified in Level 2 of the fair value hierarchy because these valuation inputs are usually observable. Non-trading debt securities non-trading Government, agency and municipal securities Bank and corporate debt securities Short-term long-term borrowings (“Structured notes”) The fair value of structured notes is determined using a quoted price in an active market for the identical liability if available, and where not available, using a mixture of valuation techniques that use the quoted price of the identical liability when traded as an asset, quoted prices for similar liabilities, similar liabilities when traded as assets, or an internal model which combines DCF valuation techniques and option pricing models, depending on the nature of the embedded features within the structured note. Where an internal model is used, Nomura estimates the fair value of both the underlying debt instrument and the embedded derivative components. The significant valuation inputs used to estimate the fair value of the debt instrument component include yield curves, prepayment rates, default probabilities and loss severities. The significant valuation inputs used to estimate the fair value of the embedded derivative component are the same as those used for the relevant type of freestanding OTC derivative discussed above. A valuation adjustment is also made to the entire structured note in order to reflect Nomura’s own creditworthiness. This adjustment is determined based on recent observable secondary market transactions and executable broker quotes involving Nomura debt instruments and is therefore typically treated as a Level 2 valuation input. Structured notes are generally classified in Level 2 of the fair value hierarchy as all significant valuation inputs and adjustments are observable. Where any unobservable inputs are significant, such as yields, prepayment rates, default probabilities, loss severities, volatilities and correlations used to estimate the fair value of the embedded derivative component, structured notes are classified in Level 3. Long-term borrowings (“Secured financing transactions”) Transfer and Servicing Level 3 financial instruments The valuation of Level 3 financial assets and liabilities is dependent on certain significant valuation inputs which are unobservable. Common characteristics of an inactive market include a low number of transactions of the financial instrument, stale or non-current non-executable If corroborative evidence is not available to value Level 3 financial instruments, fair value may be measured using other equivalent products in the market. The level of correlation between the specific Level 3 financial instrument and the available benchmark instrument is considered as an unobservable valuation input. Other techniques for determining an appropriate value for unobservable input may consider information such as consensus pricing data among certain market participants, historical trends, extrapolation from observable market data and other information Nomura would expect market participants to use in valuing similar instruments. Use of reasonably possible alternative valuation input assumptions to value Level 3 financial instruments will significantly influence fair value determination. Ultimately, the uncertainties described above about input assumptions imply that the fair value of Level 3 financial instruments is a judgmental estimate. The specific valuation for each instrument is based on management’s judgment of prevailing market conditions, in accordance with Nomura’s established valuation policies and procedures. Quantitative and qualitative information regarding significant unobservable inputs The following tables present quantitative and qualitative information about the significant unobservable valuation inputs used by Nomura to measure the fair value of financial instruments classified in Level 3 as of March 31, 2019 and 2020. These financial instruments will also typically include observable valuation inputs (i.e. Level 1 or Level 2 valuation inputs) which are not included in the table and are also often hedged using financial instruments which are classified in Level 1 or Level 2 of the fair value hierarchy. Changes in each of these significant unobservable valuation inputs used by Nomura will impact upon the fair value measurement of the financial instrument. The following tables also therefore qualitatively summarize how an increase in those significant unobservable valuation inputs to a different amount might result in a higher or lower fair value measurement at the reporting date and summarize the interrelationship between significant unobservable valuation inputs where more than one is used to measure fair value. The impact of the COVID-19 pandemic on financial markets has been considered in determining which valuation inputs are used to measure fair value. March 31, 2019 Financial Instrument Fair Valuation technique Significant unobservable Range of valuation (1) Weighted Average (2) Impact of (3)(4) Interrelationships (5) Assets: Trading assets and private equity and debt investments Equities ¥ 13 DCF Liquidity discounts 75.0% 75.0% Lower fair value Not applicable Private equity and debt investments 26 Market multiples EV/EBITDA ratios 7.7 x 7.7 x Higher fair value Not applicable Foreign government, agency and municipal securities 5 DCF Credit spreads Recovery rates 0.0 – 9.1% 4.0 – 36.0% 0.6% 31.6% Lower fair value Higher fair value No predictable interrelationship Bank and corporate debt securities and loans for trading purposes 160 DCF Credit spreads Recovery rates 0.0 – 15.0% 0.0 – 99.1% 4.1% 72.2% Lower fair value Higher fair value No predictable interrelationship Residential mortgage backed securities (“RMBS”) 3 DCF Yields 0.0 – 78.4% 6.5 – 15.0% 9.1 – 100.0% 13.2% 10.5% 81.1% Lower fair value Lower fair value Lower fair value No predictable interrelationship Real estate-backed securities 69 DCF Yields Loss severities 5.5 – 19.7% 0.0 – 55.2% 12.5% 6.6% Lower fair value No predictable interrelationship Collateralized debt obligations (“CDOs”) and other 19 DCF Yields Prepayment rates Default probabilities 2.7 – 19.0% 1.0 – 2.0% 31.5 – 100.0% 13.1% Lower fair value Change in default probabilities typically accompanied by directionally similar change in loss severities and opposite change in prepayment rates March 31, 2019 Financial Instrument Fair Valuation technique Significant unobservable Range of valuation (1) Weighted Average (2) Impact of (3)(4) Interrelationships (5) Derivatives, net: Equity contracts ¥ (8) Option models Dividend yield 0.0 – 8.0% — — — Higher fair value No predictable interrelationship Interest rate contracts (54) DCF/ Option models Interest rates 0.0 – 2.4% 10.6 – 15.2% 24.2 – 66.8 bp (0.76) – 1.00 — — — — Higher fair value No predictable interrelationship Credit contracts (8) DCF/ Option models Credit spreads 0.0 – 21.4% 0.0 – 100.6% 16.2 – 83.0% 0.27 – 0.75 — — — — Higher fair value No predictable interrelationship Foreign exchange contracts 20 Option models Interest rates (0.4) – 2.4% 1.7 – 35.5% 209.0 – 245.0 bp (0.25) – 0.80 — — — — Higher fair value No predictable interrelationship Loans and receivables 129 DCF Credit spreads 0.0 – 12.3% 3.6% Lower fair value Not applicable Collateralized agreements 33 DCF Repo rate 3.5 – 8.4% 7.0% Lower fair value Not applicable Other assets Other (6) 166 DCF WACC 10.2% 2.5% 10.0% 10.2% 2.5% 10.0% Lower fair value Higher fair value Lower fair value No predictable interrelationship Market multiples EV/EBITDA ratios 4.7 – 13.8 x 8.9 – 32.4 x 0.3 – 2.7 x 10.0 – 50.0% 8.2 x 15.5 x 0.8 x 30.6% Higher fair value Lower fair value Generally changes in multiples result in a corresponding similar directional change in a fair value measurement, assuming earnings levels remain constant. Liabilities: Short-term borrowings 31 DCF/ Option models Volatilities 6.7 – 54.5% (0.75) – 0.91 — — Higher fair value No predictable interrelationship Long-term borrowings 535 DCF/ Option models Volatilities 6.7 – 54.5% — — — Higher fair value No predictable interrelationship March 31, 2020 Financial Instrument Fair Valuation technique Significant unobservable Range of valuation (1) Weighted Average (2) Impact of (3)(4) Interrelationships (5) Assets: Trading assets and private equity and debt investments Equities ¥ 14 DCF Liquidity discounts 75.0% 75.0% Lower fair value Not applicable Market multiples Liquidity discounts 20.0% 20.0% Lower fair value Not applicable Private equity and debt investments 31 DCF WACC Growth rates 7.0 – 13.5% 10.0% Lower fair value No predictable interrelationship Market multiples EV/EBITDA ratios 1.0 – 11.0x 9.6 x 5.0 – 30.0% 8.9x Higher fair value No predictable interrelationship Foreign government, agency and municipal securities 8 DCF Credit spreads 0.0 – 1.4% 0.5% Lower fair value No predictable interrelationship Bank and corporate debt securities and loans for trading purposes 228 DCF Credit spreads 0.0 – 17.9% 5.8% Lower fair value No predictable interrelationship Residential mortgage backed securities (“RMBS”) 62 DCF Yields 0.0 – 30.8% 6.7% Lower fair value No predictable interrelationship Real estate-backed securities 94 DCF Loss severities 0.0 – 8.1% 3.4% Lower fair value Not applicable Collateralized debt obligations (“CDOs”) and other 32 DCF Yields 6.4 – 56.8% 21.6% Lower fair value Change in default probabilities typically accompanied by directionally similar change in loss severities and opposite change in prepayment rates March 31, 2020 Financial Instrument Fair Valuation technique Significant unobservable Range of valuation (1) Weighted Average (2) Impact of (3)(4) Interrelationships (5) Derivatives, net: Equity contracts ¥ 19 Option models Dividend yield 0.0 – 18.7% — — — Higher fair value Higher fair value Higher fair value No predictable interrelationship Interest rate contracts (54) DCF/ Option models Interest rates (0.1) – 2.0% — — — — Higher fair value Higher fair value Higher fair value Higher fair value No predictable interrelationship Credit contracts (1) DCF/ Option models Credit spreads Volatilities 0.1 – 28.4% — — — — Higher fair value Higher fair value Higher fair value Higher fair value No predictable interrelationship Foreign exchange contracts 7 Option models Interest rates (0.1) – 0.8% — — — — Higher fair value Higher fair value Higher fair value Higher fair value No predictable interrelationship Loans and receivables 96 DCF Credit spreads 0.0 – 20.5% 4.2% Lower fair value Higher fair value No predictable interrelationship Collateralized agreements 15 DCF Repo rate 3.8 – 5.6% 4.9% Lower fair value Not applicable Other assets Other (6) 168 DCF WACC 10.1% 2.0% 10.0% 10.1% Lower fair value Higher fair value Lower fair value No predictable interrelationship Market multiples EV/EBITDA ratios PE Ratios Price/Book ratios Liquidity discounts 3.9 – 10.3 x 4.6 x 11.4 x 0.8 x 28.6% Higher fair value Higher fair value Higher fair value Lower fair value Generally changes in multiples result in a corresponding similar directional change in a fair value measurement, assuming earnings levels remain constant. Liabilities: Short-term borrowings 29 DCF/ Option models Volatilities 12.6 – 76.4% (0.72) – 0.94 — — Higher fair value Higher fair value No predictable interrelationship Long-term bor |
Derivative instruments and hedg
Derivative instruments and hedging activities | 12 Months Ended |
Mar. 31, 2020 | |
Derivative Instruments and Hedging Activities [Abstract] | |
Derivative instruments and hedging activities | 3. Derivative instruments and hedging activities: Nomura uses a variety of derivative financial instruments, including futures, forwards, options and swaps, for both trading and non-trading Derivatives used for trading purposes In the normal course of business, Nomura enters into transactions involving derivative financial instruments to meet client needs, for trading purposes, and to reduce its own exposure to loss due to adverse fluctuations in interest rates, currency exchange rates and market prices of securities. These financial instruments include contractual agreements such as commitments to swap interest payment streams, exchange currencies or purchase or sell securities and other financial instruments on specific terms at specific future dates. Nomura maintains active trading positions in a variety of derivative financial instruments. Most of Nomura’s trading activities are client oriented. Nomura utilizes a variety of derivative financial instruments as a means of bridging clients’ specific financial needs and investors’ demands in the securities markets. Nomura also actively trades securities and various derivatives to assist its clients in adjusting their risk profiles as markets change. In performing these activities, Nomura carries an inventory of capital markets instruments and maintains its access to market liquidity by quoting bid and offer prices to and trading with other market makers. These activities are essential to provide clients with securities and other capital market products at competitive prices. Futures and forward contracts are commitments to either purchase or sell securities, foreign currency or other capital market instruments at a specific future date for a specified price and may be settled in cash or through delivery. Foreign exchange contracts include spot and forward contracts and involve the exchange of two currencies at a rate agreed by the contracting parties. Risks arise from the possible inability of counterparties to meet the terms of their contracts and from movements in market prices. Futures contracts are executed through regulated exchanges which clear and guarantee performance of counterparties. Accordingly, credit risk associated with futures contracts is considered minimal. In contrast, forward contracts are generally negotiated between two counterparties and, therefore, are subject to the performance of the related counterparties. Options are contracts that grant the purchaser, for a premium payment, the right to either purchase or sell a financial instrument at a specified price within a specified period of time or on a specified date from or to the writer of the option. The writer of options receives premiums and bears the risk of unfavorable changes in the market price of the financial instruments underlying the options. Swaps are contractual agreements in which two counterparties agree to exchange certain cash flows, at specified future dates, based on an agreed contract. Certain agreements may result in combined interest rate and foreign currency exposures. Entering into swap agreements may involve the risk of credit losses in the event of counterparty default. To the extent these derivative financial instruments are economically hedging financial instruments or securities positions of Nomura, the overall risk of loss may be fully or partly mitigated by the hedged position. Nomura seeks to minimize its exposure to market risk arising from its use of these derivative financial instruments through various control policies and procedures, including position limits, monitoring procedures and hedging strategies whereby Nomura enters into offsetting or other positions in a variety of financial instruments. Derivatives used for non-trading Nomura’s principal objectives in using derivatives for non-trading Credit risk associated with derivatives utilized for non-trading Nomura designates certain derivative financial instruments as fair value hedges of interest rate risk arising from specific financial liabilities and foreign currency risk arising from specific foreign currency denominated debt securities. These derivatives are effective in reducing the risk associated with the exposure being hedged and are highly correlated with changes in the fair value and foreign currency rates of the underlying hedged items, both at inception and throughout the life of the hedging relationship. Changes in fair value of the hedging derivatives are reported together with those of the hedged liabilities and assets through the consolidated statements of income within Interest expense Revenue—Other Derivative financial instruments designated as hedges of the net investment in foreign operations relate to specific subsidiaries with non-Japanese Revenue—Other Accumulated other comprehensive income (loss). Concentrations of credit risk for derivatives The following tables present Nomura’s significant concentration of exposures to credit risk in OTC derivatives with financial institutions including transactions cleared through central counterparties as of March 31, 2019 and 2020. The gross fair value of derivative assets represents the maximum amount of loss due to credit risk that Nomura would incur if the counterparties of Nomura failed to perform in accordance with the terms of the instruments and any collateral or other security Nomura held in relation to those instruments proved to be of no value. Billions of yen March 31, 2019 Gross fair value of derivative assets Impact of master netting agreements Impact of collateral Net exposure to credit risk Financial institutions ¥ 13,332 ¥ (11,602 ) ¥ (1,507 ) ¥ 223 Billions of yen March 31, 2020 Gross fair value of derivative assets Impact of master netting agreements Impact of collateral Net exposure to credit risk Financial institutions ¥ 17,711 ¥ (15,479 ) ¥ (1,707 ) ¥ 525 Derivative activities The following tables quantify the volume of Nomura’s derivative activity as of March 31, 2019 and 2020 through a disclosure of notional amounts, in comparison with the fair value of those derivatives. All amounts are disclosed on a gross basis, prior to counterparty netting of derivative assets and liabilities and cash collateral netting against net derivatives. Billions of yen March 31, 2019 Derivative assets Derivative liabilities Total Notional (1) Fair value Fair value (1) Derivatives used for trading and non-trading (2)(3) Equity contracts ¥ 45,721 ¥ 851 ¥ 920 Interest rate contracts 2,243,179 8,612 8,290 Credit contracts 35,343 533 464 Foreign exchange contracts 310,677 4,912 4,842 Commodity contracts 241 1 1 Total ¥ 2,635,161 ¥ 14,909 ¥ 14,517 Derivatives designated as hedging instruments: Interest rate contracts ¥ 1,002 ¥ 20 ¥ — Foreign exchange contracts 146 0 — Total ¥ 1,148 ¥ 20 ¥ — Total derivatives ¥ 2,636,309 ¥ 14,929 ¥ 14,517 Billions of yen March 31, 2020 Derivative assets Derivative liabilities Total Notional (1) Fair value Fair value (1) Derivatives used for trading and non-trading (2)(3) Equity contracts ¥ 47,976 ¥ 1,921 ¥ 2,008 Interest rate contracts 2,522,172 13,590 13,214 Credit contracts 36,155 407 457 Foreign exchange contracts 267,313 5,224 5,104 Commodity contracts 601 9 6 Total ¥ 2,874,217 ¥ 21,151 ¥ 20,789 Derivatives designated as hedging instruments: Interest rate contracts ¥ 1,064 ¥ 39 ¥ 0 Foreign exchange contracts 115 — 1 Total ¥ 1,179 ¥ 39 ¥ 1 Total derivatives ¥ 2,875,396 ¥ 21,190 ¥ 20,790 (1) Includes the amount of embedded derivatives bifurcated in accordance with ASC 815. (2) Each derivative classification includes derivatives referencing multiple risk components. For example, interest rate contracts include complex derivatives referencing interest rate risk as well as foreign exchange risk or other factors such as prepayment rates. Credit contracts include credit default swaps as well as derivatives referencing corporate and government securities. (3) As of March 31, 2019 and 2020, the amounts reported include derivatives used for non-trading Changes in fair value are recognized either through earnings or other comprehensive income depending on the purpose for which the derivatives are used. Offsetting of derivatives Counterparty credit risk associated with derivative financial instruments is controlled by Nomura through credit approvals, limits and monitoring procedures. To reduce the risk of loss, Nomura requires collateral, principally cash collateral and government securities, for certain derivative transactions. In certain cases, Nomura may agree for such collateral to be posted to a third-party custodian under a control agreement that enables Nomura to take control of such collateral in the event of counterparty default. From an economic standpoint, Nomura evaluates default risk exposure net of related collateral. Furthermore, OTC derivative transactions are typically documented under industry standard master netting agreements which reduce Nomura’s credit exposure to counterparties as they permit the close-out close-out For certain types of counterparties and in certain jurisdictions, Nomura may enter into derivative transactions which are not documented under a master netting agreement. Similarly, even when derivatives are documented under such agreements, Nomura may not have yet sought evidence, or may not be able to obtain evidence to determine with sufficient certainty that close-out close-out Nomura considers the enforceability of a master netting agreement in determining how credit risk arising from transactions with a specific counterparty is hedged, how counterparty credit exposures are calculated and applied to credit limits and the extent and nature of collateral requirements from the counterparty. Derivative assets and liabilities with the same counterparty documented under a master netting agreement are offset in the consolidated balance sheets where the specific criteria defined by ASC 210-20 Balance Sheet—Offsetting 210-20”) close-out The following table presents information about offsetting of derivatives and related collateral amounts in the consolidated balance sheets as of March 31, 2019 and 2020 by type of derivative contract, together with the extent to which master netting agreements entered into with counterparties, central clearing counterparties or exchanges permit additional offsetting of derivatives and collateral in the event of counterparty default. Derivative transactions which are not documented under a master netting agreement or are documented under a master netting agreement for which Nomura does not have sufficient evidence of enforceability are not offset in the following table. Billions of yen Billions of yen March 31, 2019 March 31, 2020 Derivative assets Derivative liabilities (1) Derivative assets Derivative liabilities (1) Equity contracts OTC settled bilaterally ¥ 636 ¥ 611 ¥ 869 ¥ 875 Exchange-traded 215 309 1,052 1,133 Interest rate contracts OTC settled bilaterally 7,295 6,946 11,881 11,438 OTC centrally-cleared 1,327 1,341 1,692 1,758 Exchange-traded 10 3 56 18 Credit contracts OTC settled bilaterally 355 283 278 311 OTC centrally-cleared 176 178 126 132 Exchange-traded 2 3 3 14 Foreign exchange contracts OTC settled bilaterally 4,912 4,842 5,224 5,105 Commodity contracts OTC settled bilaterally — — 1 1 Exchange-traded 1 1 8 5 Total gross derivative balances (2) ¥ 14,929 ¥ 14,517 ¥ 21,190 ¥ 20,790 Less: Amounts offset in the consolidated balance sheets (3) (14,077 ) (13,710 ) (19,248 ) (18,987 ) Total net amounts reported on the face of the consolidated balance sheets (4) ¥ 852 ¥ 807 ¥ 1,942 ¥ 1,803 Billions of yen Billions of yen March 31, 2019 March 31, 2020 Derivative assets Derivative liabilities (1) Derivative assets Derivative liabilities (1) Less: Additional amounts not offset in the consolidated balance sheets (5) Financial instruments and non-cash ¥ (115) ¥ (86) ¥ (182 ) ¥ (125 ) Net amount ¥ 737 ¥ 721 ¥ 1,760 ¥ 1,678 (1) Includes the amount of embedded derivatives bifurcated in accordance with ASC 815. (2) Includes all gross derivative asset and liability balances irrespective of whether they are transacted under a master netting agreement or whether Nomura has obtained sufficient evidence of enforceability of the master netting agreement. As of March 31, 2019, the gross balance of derivative assets and derivative liabilities which are not documented under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥277 billion and ¥374 billion, respectively. As of March 31, 2020, the gross balance of such derivative assets and derivative liabilities was ¥1,013 billion and ¥1,046 billion, respectively. (3) Represents amounts offset through counterparty netting of derivative assets and liabilities as well as cash collateral netting against net derivatives under master netting and similar agreements for which Nomura has obtained sufficient evidence of enforceability in accordance with ASC 815. As of March 31, 2019, Nomura offset a total of ¥1,259 billion of cash collateral receivables against net derivative liabilities and ¥1,626 billion of cash collateral payables against net derivative assets. As of March 31, 2020, Nomura offset a total of ¥1,679 billion of cash collateral receivables against net derivative liabilities and ¥1,940 billion of cash collateral payables against net derivative assets. (4) Net derivative assets and net derivative liabilities are generally reported within Trading assets and private equity investments—Trading assets Trading liabilities Short-term borrowings Long-term borrowings (5) Represents amounts which are not permitted to be offset on the face of the consolidated balance sheets in accordance with ASC 210-20 Derivatives used for trading purposes Derivative financial instruments used for trading purposes, including bifurcated embedded derivatives, are carried at fair value with changes in fair value recognized through the consolidated statements of income within Revenue—Net gain on trading The following table presents amounts included in the consolidated statements of income for the years ended March 31, 2018, 2019, 2020 related to derivatives used for trading and non-trading Billions of yen Year ended March 31 2018 2019 2020 Derivatives used for trading and non-trading (1)(2) Equity contracts ¥ 106 ¥ (32 ) ¥ 93 Interest rate contracts (257 ) 104 (192 ) Credit contracts 129 (19 ) (118 ) Foreign exchange contracts 49 (50 ) 57 Commodity contracts 22 10 (1 ) Total ¥ 49 ¥ 13 ¥ (161 ) (1) Each derivative classification includes derivatives referencing multiple risk components. For example, interest rates contracts include complex derivatives referencing interest rate risk as well as foreign exchange risk or other factors such as prepayment rates. Credit contracts include credit default swaps as well as derivatives referencing corporate and government securities. (2) Includes net gains (losses) on derivatives used for non-trading non-trading Fair value hedges Nomura issues Japanese Yen and foreign currency denominated debt with both fixed and floating interest rates. Nomura generally enters into swap agreements to convert fixed rate interest payments on its debt obligations to a floating rate and applies fair value hedge accounting to these instruments. The following table presents the carrying value of the hedged items that are currently designated in a hedging relationship and the related cumulative amount of fair value hedging adjustment included in the carrying amount of the hedged items as of March 31, 2019 and 2020. Line items in the statement of financial Billions of yen Carrying amount of the hedged liabilities Cumulative gains/(losses) of fair value hedging March 31, 2019 March 31, 2020 March 31, 2019 March 31, 2020 Long-term borrowings ¥ 1,019 ¥ 1,098 ¥ (13) ¥ (36) Total ¥ 1,019 ¥ 1,098 ¥ (13) ¥ (36) Hedging derivatives designated as fair value hedges are carried at fair value attributable to the hedged risk, which is recognized in the consolidated statements of income within Interest expense Revenue-Other The following table presents amounts included in the consolidated statements of income for the years ended March 31, 2018, 2019 and 2020 related to derivatives designated as fair value hedges by type of underlying derivative contract and the nature of the hedged item. Billions of yen Year ended March 31 2018 2019 2020 Derivatives designated as hedging instruments: Interest rate contracts ¥ (1 ) ¥ 6 ¥ (26 ) Foreign exchange contracts 9 — — Total ¥ 8 ¥ 6 ¥ (26 ) Billions of yen Year ended March 31 2018 2019 2020 Hedged items: Long-term borrowings ¥ 1 ¥ (6 ) ¥ 26 Non-trading (9 ) — — Total ¥ (8 ) ¥ (6 ) ¥ 26 Net investment hedges Nomura designates foreign currency forwards, etc., as hedges of certain subsidiaries with significant foreign exchange risks and applies hedge accounting to these instruments. Accordingly, foreign exchange gains (losses) arising from the derivative contracts and non-derivative are Other comprehensive income (loss)—Change in cumulative translation adjustments, net of tax The following table presents gains (losses) from derivatives designated as net investment hedges included in the consolidated statements of comprehensive income for the years ended March 31, 2018, 2019 and 2020. Billions of yen Year ended March 31 2018 2019 2020 Hedging instruments: Foreign exchange contracts ¥ (11 ) ¥ 7 ¥ 2 Total ¥ (11 ) ¥ 7 ¥ 2 (1) The portion of gains (losses) representing the amount of hedge ineffectiveness and the amount excluded from the assessment of hedge effectiveness are recognized within Revenue—Other Derivatives containing credit risk related contingent features Nomura enters into certain OTC derivatives and other agreements containing credit-risk-related contingent features. These features would require Nomura to post additional collateral or settle the instrument upon occurrence of a credit event, the most common of which would be a downgrade in the Company’s long-term credit rating. The aggregate fair value of all derivative instruments with credit-risk-related contingent features that are in a liability position as of March 31, 2019, was ¥486 billion with related collateral pledged of ¥410 billion. In the event of a one-notch The aggregate fair value of all derivative instruments with credit-risk-related contingent features that are in a liability position as of March 31, 2020, was ¥750 billion with related collateral pledged of ¥635 billion. In the event of a one-notch Credit derivatives Credit derivatives are derivative instruments in which one or more of their underlyings are related to the credit risk of a specified entity (or group of entities) or an index based on the credit risk of a group of entities that expose the seller of credit protection to potential loss from credit risk related events specified in the contract. Written credit derivatives are instruments or embedded features where Nomura assumes third party credit risk, either as guarantor in a guarantee-type contract, or as the party that provides credit protection in an option-type contract, credit default swap, or any other credit derivative contract. Nomura enters into credit derivatives as part of its normal trading activities as both purchaser and seller of protection for credit risk mitigation, proprietary trading positions and for client transactions. The most significant type of credit derivatives used by Nomura are single-name credit default swaps where settlement of the derivative is based on the credit risk of a single third party. Nomura also writes credit derivatives linked to the performance of credit default indices and issues other credit risk related portfolio products. Nomura would have to perform under a credit derivative contract if a credit event as defined in the respective contract occurs. Typical credit events include bankruptcy, failure to pay and restructuring of obligations of the reference asset. Credit derivative contracts written by Nomura are either cash or physically settled. In cash-settled instruments, once payment is made upon an event of a default, the contract usually terminates with no further payments due. Nomura generally has no right to assume the reference assets of the counterparty in exchange for payment, nor does Nomura usually have any direct recourse to the actual issuers of the reference assets to recover the amount paid. In physically settled contracts, upon a default event, Nomura takes delivery of the reference asset in return for payment of the full notional amount of the contract. Nomura actively monitors and manages its credit derivative exposures. Where protection is sold, risks may be mitigated by purchasing credit protection from other third parties either on identical underlying reference assets or on underlying reference assets with the same issuer which would be expected to behave in a correlated fashion. The most common form of recourse provision to enable Nomura to recover from third parties any amounts paid under a written credit derivative is therefore not through the derivative itself but rather through the separate purchase of credit derivatives with identical or correlated underlyings. Nomura quantifies the value of these purchased contracts in the following tables in the column titled “Purchased Credit Protection”. These amounts represent purchased credit protection with identical underlyings to the written credit derivative contracts which act as a hedge against Nomura’s exposure. To the extent Nomura is required to pay out under the written credit derivative, a similar amount would generally become due to Nomura under the purchased hedge. Credit derivatives have a stated notional amount which represents the maximum payment Nomura may be required to make under the contract. However, this is generally not a true representation of the amount Nomura will actually pay as in addition to purchased credit protection, other risk mitigating factors reduce the likelihood and amount of any payment, including: The probability of default The recovery value on the underlying asset Nomura holds assets as collateral in relation to written credit derivatives. However, these amounts do not enable Nomura to recover any amounts paid under the credit derivative but rather mitigate the risk of economic loss arising from a counterparty defaulting against amounts due to Nomura under the contract. Collateral requirements are determined on a counterparty level rather than individual contract, and also generally cover all types of derivative contracts rather than just credit derivatives. The following tables present information about Nomura’s written credit derivatives and purchased credit protection with identical underlyings as of March 31, 2019 and 2020. Billions of yen March 31, 2019 Maximum potential payout/Notional Notional Years to maturity Purchased credit protection Carrying value (Asset) / Liability (1) Total Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Single-name credit default swaps ¥ (47 ) ¥ 9,206 ¥ 2,346 ¥ 3,402 ¥ 2,469 ¥ 989 ¥ 6,555 Credit default indices (117 ) 5,735 612 1,644 2,849 630 4,330 Other credit risk related portfolio products 14 231 31 82 115 3 165 Credit-risk related options and swaptions — — — — — — — Total ¥ (150 ) ¥ 15,172 ¥ 2,989 ¥ 5,128 ¥ 5,433 ¥ 1,622 ¥ 11,050 Billions of yen March 31, 2020 Maximum potential payout/Notional Notional Years to maturity Purchased credit protection Carrying value (Asset) / Liability (1) Total Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Single-name credit default swaps ¥ 96 ¥ 8,018 ¥ 2,323 ¥ 2,238 ¥ 2,552 ¥ 905 ¥ 5,836 Credit default indices 18 8,064 721 2,455 4,179 709 6,364 Other credit risk related portfolio products 65 357 39 130 175 13 274 Credit-risk related options and swaptions 1 16 — — 16 — 16 Total ¥ 180 ¥ 16,455 ¥ 3,083 ¥ 4,823 ¥ 6,922 ¥ 1,627 ¥ 12,490 (1) Carrying value amounts are shown on a gross basis prior to cash collateral or counterparty netting. Asset balances represent positive fair value amounts caused by tightening of credit spreads of underlyings since inception of the credit derivative contracts. The following tables present information about Nomura’s written credit derivatives by external credit rating of the underlying asset. Ratings are based on S&P Global Ratings (“S&P”), or if not rated by S&P, based on Moody’s Investors Service. If ratings from either of these agencies are not available, the ratings are based on Fitch Ratings Ltd. or Japan Credit Rating Agency, Ltd. For credit default indices, the rating is determined by taking the weighted average of the external credit ratings given for each of the underlying reference entities comprising the portfolio or index. Billions of yen March 31, 2019 Maximum potential payout/Notional AAA AA A BBB BB Other (1) Total Single-name credit default swaps ¥ 520 ¥ 915 ¥ 2,537 ¥ 3,411 ¥ 1,439 ¥ 384 ¥ 9,206 Credit default indices 35 72 1,582 2,663 1,068 315 5,735 Other credit risk related portfolio products — — 1 139 25 66 231 Credit-risk related options and swaptions — — — — — — — Total ¥ 555 ¥ 987 ¥ 4,120 ¥ 6,213 ¥ 2,532 ¥ 765 ¥ 15,172 Billions of yen March 31, 2020 Maximum potential payout/Notional AAA AA A BBB BB Other (1) Total Single-name credit default swaps ¥ 122 ¥ 1,683 ¥ 1,935 ¥ 2,643 ¥ 1,198 ¥ 437 ¥ 8,018 Credit default indices 24 153 2,211 4,027 1,318 331 8,064 Other credit risk related portfolio products — — 2 191 73 91 357 Credit-risk related options and swaptions — — — — 16 — 16 Total ¥ 146 ¥ 1,836 ¥ 4,148 ¥ 6,861 ¥ 2,605 ¥ 859 ¥ 16,455 (1) “Other” includes credit derivatives where the credit rating of the underlying reference asset is below investment grade or where a rating is unavailable. Derivatives entered into in contemplation of sales of financial assets Nomura enters into transactions which involve both the transfer of financial assets to a third party counterparty and a separate agreement with the same counterparty entered into in contemplation of the initial transfer through which Nomura retains substantially all of the exposure to the economic return on the transferred financial assets throughout the term of the transaction. These transactions primarily include sales of securities with bilateral OTC total return swaps or other derivative agreements which are in-substance Long-term borrowings—Trading balances of secured borrowings As of March 31, 2020 there were no outstanding sales with total return swap or in-substance |
Revenue from services provided
Revenue from services provided to customers | 12 Months Ended |
Mar. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from services provided to customers | 4. Revenue from services provided to customers Revenues by types of service The following table presents revenue earned by Nomura from providing services to customers by relevant line item in Nomura’s consolidated statement of income for the year ended March 31, 2019 and 2020. Millions of yen Year ended March 31 2019 2020 Commissions ¥ 293,069 ¥ 308,805 Fees from investment banking 101,521 103,222 Asset management and portfolio service fees 245,519 238,202 Other revenue 54,284 49,901 Total ¥ 694,393 ¥ 700,130 Commissions Fees from investment banking Asset management and portfolio service fees Other . The following table presents summary information regarding the key methodologies, assumptions and judgments used in recognizing revenue for each of the primary types of service provided to customers, including the nature of underlying performance obligations within each type of service and whether those performance obligations are satisfied at a point in time or over a period of time. For performance obligations recognized over time, information is also provided to explain the nature of the input or output method used to recognize revenue over time. Type of service provided to customers Overview of key services provided Key revenue recognition policies, significant judgments Trade execution and clearing services • • • • Financial advisory services • • • • • • • Type of service provided to customers Overview of key services provided Key revenue recognition policies, significant judgments achieve a specific transaction or outcome for the customer (such as the purchase or sale of a business), the nature and extent of benefit to be provided to the customer prior to, and in addition to such specific transaction or outcome and the fee structure for the engagement. • Asset management services • • • • • • • • Type of service provided to customers Overview of key services provided Key revenue recognition policies, significant judgments Underwriting and syndication services • • • • • • • Where revenue is recognized at a point on time, payments of fees are typically received at the same time as when the performance obligation is satisfied, or within several days or months after satisfying a performance obligation. In relation to revenue recognized over time, payments of fees are typically received every month, three months or six months. The underlying contracts entered into by Nomura in order to provide the services described above typically do not have significant financing components within the contracts either provided to or from Nomura. If such components did not exist in a contract, Nomura has made an accounting policy permitted by ASC 606 “ Revenue from Contracts with Customers Customer contract balances When Nomura or the customer performs in accordance with the terms of a customer contract, a contract asset, customer contract receivable or contract liability is recognized in Nomura’s consolidated balance sheet. A contract asset represents accrued revenue recognized by Nomura for completing or partially completing a performance obligation, namely a right of Nomura to receive consideration for providing the service to the customer, which is conditioned on something other than the passage of time. A customer contract receivable is an unconditional right of Nomura to receive consideration in exchange for providing the service. Both contract assets and customer contract receivables are reported in Receivables from Customers Payables to Customers The following table presents the balances of customer contract receivables, contract assets and contract liabilities in scope of ASC 606 as of March 31, 2019 and 2020. The amount of contract assets as of March 31, 2019 and 2020 were immaterial. Millions of yen March 31, 2019 March 31, 2020 Customer contract receivables ¥ 78,226 ¥ 103,557 Contract liabilities (1) 4,971 3,444 (1) Contract liabilities primarily rise from investment advisory services and recognized in connection with the term of the contract based on time elapsed. The balance of contract liabilities as of March 31, 2018 were recognized as revenue for the year ended March 31, 2019. Nomura recognized ¥1,334 million of revenue from performance obligations satisfied in previous periods for the year end ed The balance of contract liabilities as of March 31, 2019 were recognized as revenue for the year ended March 31, 2020. Nomura recognized ¥744 million of revenue from performance obligations satisfied in previous periods for the year ended March 31, 2020. Transaction price allocated to the remaining performance obligatio ns As permitted by ASC 606, Nomura has chosen not to disclose information about remaining performance obligations that have original expected durations of one year or less as of March 31, 2019 and 2020. Nomura retains no significant transactions for which individual estimated contract period exceeds one year. In addition, considerations arising from contracts with customers do not comprise any significant amount that is not included in transaction price. Customer contract costs As permitted by ASC 340 “ Other Assets and Deferred Costs, |
Collateralized transactions
Collateralized transactions | 12 Months Ended |
Mar. 31, 2020 | |
Collateralized Transactions | |
Collateralized transactions | 5. Collateralized transactions: Nomura enters into collateralized transactions, including reverse repurchase agreements, repurchase agreements, securities borrowing transactions, securities lending transactions, other secured borrowings and similar transactions mainly to meet clients’ needs, finance trading inventory positions and obtain securities for settlements. Reverse repurchase agreements, repurchase agreements, securities borrowing transactions and securities lending transactions are typically documented under industry standard master netting agreements which reduce Nomura’s credit exposure to counterparties as they permit the close-out close-out For certain types of counterparty and in certain jurisdictions, Nomura may enter into reverse repurchase agreements, repurchase agreements, securities borrowing and securities lending transactions which are not documented under a master netting agreement. Similarly, even when these transactions are documented under such agreements, Nomura may not have yet sought evidence, or may not be able to obtain evidence to determine with sufficient certainty that the close-out close-out Nomura considers the enforceability of a master netting agreement in determining how credit risk arising from transactions with a specific counterparty is hedged, how counterparty credit exposures are calculated and applied to credit limits and the extent and nature of collateral requirements from the counterparty. In all of these transactions, Nomura either receives or provides collateral, including Japanese and non-Japanese Offsetting of certain collateralized transactions Reverse repurchase agreements and repurchase agreements, securities borrowing and lending transactions with the same counterparty documented under a master netting agreement are offset in the consolidated balance sheets where the specific criteria defined by ASC 210-20 close-out The following tables present information about offsetting of these transactions in the consolidated balance sheets as of March 31, 2019 and 2020, together with the extent to which master netting agreements entered into with counterparties and central clearing parties permit additional offsetting in the event of counterparty default. Transactions which are not documented under a master netting agreement or are documented under a master netting agreement for which Nomura does not have sufficient evidence of enforceability are not offset in the following tables. Billions of yen March 31, 2019 Assets Liabilities Reverse repurchase agreements Securities borrowing transactions Repurchase agreements Securities lending transactions Total gross balance (1) ¥ 32,312 ¥ 4,087 ¥ 34,154 ¥ 1,512 Less: Amounts offset in the consolidated balance sheets (2) (19,117 ) — (19,117 ) — Total net amounts of reported on the face of the consolidated balance sheets (3) ¥ 13,195 ¥ 4,087 ¥ 15,037 ¥ 1,512 Less: Additional amounts not offset in the consolidated balance sheets (4) Financial instruments and non-cash (11,445 ) (2,580 ) (10,443 ) (1,198 ) Cash collateral (26 ) — — — Net amount ¥ 1,724 ¥ 1,507 ¥ 4,594 ¥ 314 Billions of yen March 31, 2020 Assets Liabilities Reverse repurchase agreements Securities borrowing transactions Repurchase agreements Securities lending transactions Total gross balance (1) ¥ 32,425 ¥ 3,508 ¥ 36,397 ¥ 1,252 Less: Amounts offset in the consolidated balance sheets (2) (20,048 ) — (20,048 ) — Total net amounts of reported on the face of the consolidated balance sheets (3) ¥ 12,377 ¥ 3,508 ¥ 16,349 ¥ 1,252 Less: Additional amounts not offset in the consolidated balance sheets (4) Financial instruments and non-cash (10,507 ) (2,381 ) (8,980 ) (1,067 ) Cash collateral (5 ) — (40 ) — Net amount ¥ 1,865 ¥ 1,127 ¥ 7,329 ¥ 185 (1) Includes all recognized balances irrespective of whether they are transacted under a master netting agreement or whether Nomura has obtained sufficient evidence of enforceability of the master netting agreement. Amounts include transactions carried at fair value through election of the fair value option. As of March 31, 2019, the gross balance of reverse repurchase agreements and repurchase agreements which were not transacted under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥749 billion and ¥3,575 billion, respectively. As of March 31, 2019, the gross balance of securities borrowing transactions and securities lending transactions which were not transacted under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥1,398 billion and ¥209 billion, respectively. As of March 31, 2020, the gross balance of reverse repurchase agreements and repurchase agreements which were not transacted under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥627 billion and ¥6,356 billion, respectively. As of March 31, 2020, the gross balance of securities borrowing transactions and securities lending transactions which were not transacted under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥998 billion and ¥138 billion, respectively. (2) Represents amounts offset through counterparty netting under master netting and similar agreements for which Nomura has obtained sufficient evidence of enforceability in accordance with ASC 210-20. (3) Reverse repurchase agreements and securities borrowing transactions are reported within Collateralized agreements—Securities purchased under agreements to resell Collateralized agreements—Securities borrowed Collateralized financing—Securities sold under agreements to repurchase Collateralized financing—Securities loaned Other liabilities (4) Represents amounts which are not permitted to be offset on the face of the balance sheet in accordance with ASC 210-20 but which provide Nomura with the right of offset in the event of counterparty default. Amounts relating to agreements where Nomura has not yet obtained sufficient evidence of enforceability of such offsetting rights are excluded. Maturity analysis of repurchase agreements and securities lending transactions The following table presents an analysis of the total carrying value of liabilities recognized in the consolidated balance sheets for repurchase agreements and securities lending transactions by remaining contractual maturity of the agreement as of March 31, 2020. Amounts reported are shown prior to counterparty netting in accordance with ASC 210-20. Billions of yen March 31, 2020 Overnight and open (1) Up to 30 days 30 - 90 days 90 days - Greater than 1 year Total Repurchase agreements ¥ 11,004 ¥ 21,505 ¥ 2,570 ¥ 983 ¥ 335 ¥ 36,397 Securities lending transactions 650 144 227 231 0 1,252 Total gross recognized liabilities (2) ¥ 11,654 ¥ 21,649 ¥ 2,797 ¥ 1,214 ¥ 335 ¥ 37,649 (1) Open transactions do not have an explicit contractual maturity date and are terminable on demand by Nomura or the counterparty. (2) Repurchase agreements and securities lending transactions are reported within Collateralized financing—Securities sold under agreements to repurchase Collateralized financing—Securities loaned Other liabilities Securities transferred in repurchase agreements and securities lending transactions The following table presents an analysis of the total carrying value of liabilities recognized in the consolidated balance sheets for repurchase agreements and securities lending transactions by class of securities transferred by Nomura to counterparties as of March 31, 2020. Amounts reported are shown prior to counterparty netting in accordance with ASC 210-20. Billions of yen March 31, 2020 Repurchase agreements Securities lending transactions Total Equities and convertible securities ¥ 132 ¥ 1,032 ¥ 1,164 Japanese government, agency and municipal securities 607 — 607 Foreign government, agency and municipal securities 29,378 5 29,383 Bank and corporate debt securities 1,821 178 1,999 Commercial mortgage-backed securities (“CMBS”) 26 — 26 Residential mortgage-backed securities (“RMBS”) (1) 4,162 — 4,162 Collateralized debt obligations (“CDOs”) and other 265 — 265 Investment trust funds and other 6 37 43 Total gross recognized liabilities (2) ¥ 36,397 ¥ 1,252 ¥ 37,649 (1) Includes ¥4,021 billion of U.S. government sponsored agency mortgage pass through securities and collateralized mortgage obligations. (2) Repurchase agreements and securities lending transactions are reported within Collateralized financing—Securities sold under agreements to repurchase Collateralized financing—Securities loaned Other liabilities Collateral received by Nomura The following table presents the fair value of securities received as collateral, securities borrowed with collateral and securities borrowed without collateral, which Nomura is permitted to sell or repledge, and the portion that has been sold or repledged as of March 31, 2019 and 2020. Billions of yen March 31 2019 2020 The fair value of securities received as collateral, securities borrowed as collateral and securities borrowed without collateral where Nomura is permitted by contract or custom to sell or repledge the securities ¥ 46,924 ¥ 46,439 The portion of the above that has been sold (reported within Trading liabilities 38,551 38,054 Collateral pledged by Nomura Nomura pledges firm-owned securities to collateralize repurchase transactions, other secured financings and derivative transactions. Pledged securities that can be sold or repledged by the transferee, including Gensaki Repo transactions, are reported in parentheses as Securities pledged as collateral Trading assets The following table presents the carrying amounts of financial assets recognized in the consolidated balance sheets which have been pledged as collateral, primarily to stock exchanges and clearing organizations, without allowing the secured party the right to sell or repledge them by type of asset as of March 31, 2019 and 2020. Millions of yen March 31 2019 2020 Trading assets: Equities and convertible securities ¥ 135,927 ¥ 133,066 Government and government agency securities 984,429 1,183,457 Bank and corporate debt securities 61,547 59,734 Commercial mortgage-backed securities (“CMBS”) 0 0 Residential mortgage-backed securities (“RMBS”) 2,535,244 2,826,613 Collateralized debt obligations (“CDOs”) and other (1) 42,607 12,406 Investment trust funds and other 14,926 6,439 ¥ 3,774,680 ¥ 4,221,715 Non-trading 1,031 29 Investments in and advances to affiliated companies ¥ 501 ¥ 2,760 (1) Includes CLOs and ABS such as those secured on credit card loans, auto loans and student loans. The following table presents the carrying amount of financial and non-financial Millions of yen March 31 2019 2020 Loans and receivables ¥ 42,544 ¥ 55,051 Trading assets and private equity and debt investments 1,589,483 1,393,517 Office buildings, land, equipment and facilities 5,371 5,258 Non-trading 142,092 149,991 Other 151 77 ¥ 1,779,641 ¥ 1,603,894 Assets in the above table were primarily pledged for secured borrowings, including other secured borrowings, collateralized borrowings of consolidated VIEs, trading balances of secured borrowings, and derivative transactions. See Note 11 “ Borrowings |
Securitizations and Variable In
Securitizations and Variable Interest Entities | 12 Months Ended |
Mar. 31, 2020 | |
Securitizations and Variable Interest Entities [Abstract] | |
Securitizations and Variable Interest Entities | 6. Securitizations and Variable Interest Entities: Securitizations Nomura utilizes special purpose entities (“SPEs”) to securitize commercial and residential mortgage loans, government agency and corporate securities and other types of financial assets. Those SPEs are incorporated as stock companies, Tokumei kumiai (silent partnerships), Cayman special purpose companies (“SPCs”) or trust accounts. Nomura’s involvement with SPEs includes structuring SPEs, underwriting, distributing and selling debt instruments and beneficial interests issued by SPEs to investors. Nomura accounts for the transfer of financial assets in accordance with ASC 860. This statement requires that Nomura accounts for the transfer of financial assets as a sale when Nomura relinquishes control over the assets. ASC 860 deems control to be relinquished when the following conditions are met: (a) the assets have been isolated from the transferor (even in bankruptcy or other receivership), (b) the transferee has the right to pledge or exchange the assets received, or if the transferee is an entity whose sole purpose is to engage in securitization or asset-backed financing activities, the holders of its beneficial interests have the right to pledge or exchange the beneficial interests, and (c) the transferor has not maintained effective control over the transferred assets. Nomura may retain an interest in the financial assets, including residual interests in the SPEs. Any such interests are accounted for at fair value and reported within Trading assets Revenue-Net gain on trading As noted above, Nomura may have continuing involvement with SPEs to which Nomura transferred assets. For the years ended March 31, 2019 and 2020, Nomura received cash proceeds from SPEs in new securitizations of ¥174 billion and ¥202 billion, respectively, and the associated gain (loss) on sale was not significant. For the years ended March 31, 2019 and 2020, Nomura received debt securities issued by these SPEs with an initial fair value of ¥1,308 billion and ¥1,769 billion, respectively, and cash inflows from third parties on the sale of those debt securities of ¥991 billion and ¥1,245 billion, respectively. The cumulative balance of financial assets transferred to SPEs with which Nomura has continuing involvement was ¥4,488 billion and ¥4,177 billion as of March 31, 2019 and 2020, respectively. Nomura’s retained interests were ¥138 billion and ¥163 billion as of March 31, 2019 and 2020, respectively. For the years ended March 31, 2019 and 2020, Nomura received cash flows of ¥20 billion and ¥24 billion, respectively, from the SPEs on the retained interests held in the SPEs. Nomura does not provide financial support to SPEs beyond its contractual obligations as of March 31, 2019 and 2020. The following tables present the fair value of retained interests which Nomura has continuing involvement in SPEs and their classification in the fair value hierarchy, categorized by the type of transferred assets as of March 31, 2019 and 2020. Billions of yen March 31, 2019 Level 1 Level 2 Level 3 Total Investment grade Other Government, agency and municipal securities ¥ — ¥ 138 ¥ — ¥ 138 ¥ 138 ¥ 0 Bank and corporate debt securities — — — — — — CMBS and RMBS — 0 0 0 0 0 Total ¥ — ¥ 138 ¥ 0 ¥ 138 ¥ 138 ¥ 0 Billions of yen March 31, 2020 Level 1 Level 2 Level 3 Total Investment grade Other Government, agency and municipal securities ¥ — ¥ 158 ¥ — ¥ 158 ¥ 158 ¥ — Bank and corporate debt securities — — — — — — CMBS and RMBS — — 5 5 0 5 Total ¥ — ¥ 158 ¥ 5 ¥ 163 ¥ 158 ¥ 5 As of March 31, 2020, predominantly all of the retained interests held by Nomura were valued using observable prices. The following table presents the type and carrying value of financial assets included within Trading assets Long-term borrowings. non-recourse Billions of yen March 31 2019 2020 Assets Trading assets Loans ¥ 15 ¥ 45 Liabilities Long-term borrowings ¥ 15 ¥ 45 Variable Interest Entities (“VIEs”) In the normal course of business, Nomura acts as a transferor of financial assets to VIEs, and underwriter, distributor, and seller of repackaged financial instruments issued by VIEs in connection with its securitization and equity derivative activities. Nomura retains, purchases and sells variable interests in VIEs in connection with its market-making, investing and structuring activities. If Nomura has an interest in a VIE that provides Nomura with control over the most significant activities of the VIE and the right to receive benefits or the obligation to absorb losses that could be significant to the VIE, Nomura is the primary beneficiary of the VIE and must consolidate the entity, provided that Nomura does not meet separate tests confirming that it is acting as a fiduciary for other interest holders. Nomura’s consolidated VIEs include those that were created to market structured securities to investors by repackaging corporate convertible securities, mortgages and mortgage-backed securities. Certain VIEs used in connection with Nomura’s aircraft leasing business as well as other purposes are consolidated. Nomura also consolidates certain investment funds, which are VIEs, and for which Nomura is the primary beneficiary. The power to make the most significant decisions may take a number of different forms in different types of VIEs. For transactions such as securitizations, investment funds, and CDOs, Nomura considers collateral management and servicing to represent the power to make the most significant decisions. Accordingly, Nomura does not consolidate such types of VIEs for which it does not act as collateral manager or servicer unless Nomura has the right to replace the collateral manager or servicer or to require liquidation of the entity. For many transactions, such as where VIEs are used for re-securitizations re-securitization The following table presents the classification of consolidated VIEs’ assets and liabilities in these consolidated financial statements as of March 31, 2019 and 2020. Most of these assets and liabilities are related to consolidated SPEs which securitize corporate convertible securities, mortgages and mortgage-backed securities. The assets of a consolidated VIE may only be used to settle obligations of that VIE. Creditors do not typically have any recourse to Nomura beyond the assets held in the VIEs. Billions of yen March 31 2019 2020 Consolidated VIE assets Cash and cash equivalents ¥ 20 ¥ 10 Trading assets Equities 780 645 Debt securities 426 454 CMBS and RMBS 43 43 Investment trust funds and other 5 0 Derivatives 17 19 Private equity and debt investments 2 11 Office buildings, land, equipment and facilities 55 15 Other 71 24 Total ¥ 1,419 ¥ 1,221 Consolidated VIE liabilities Trading liabilities Derivatives 23 19 Borrowings Short-term borrowings 151 117 Long-term borrowings 884 830 Other 3 4 Total ¥ 1,061 ¥ 970 Nomura continuously reassesses its initial evaluation of whether it is the primary beneficiary of a VIE based on current facts and circumstances as long as it has any continuing involvement with the VIE. This determination is based upon an analysis of the design of the VIE, including the VIE’s structure and activities, the power to make significant economic decisions held by Nomura and by other parties, and the variable interests owned by Nomura and other parties. Nomura also holds variable interests in VIEs where Nomura is not the primary beneficiary. Nomura’s variable interests in such VIEs include senior and subordinated debt, residual interests, and equity interests associated with commercial and residential mortgage-backed and other asset-backed securitizations and structured financings, equity interests in VIEs which were formed primarily to acquire high yield leveraged loans and other lower investment grade debt obligations, residual interests in operating leases for aircraft held by VIEs, and loans and investments in VIEs that acquire operating businesses. The following tables present the carrying amount of variable interests of unconsolidated VIEs and maximum exposure to loss associated with these variable interests as of March 31, 2019 and 2020. Maximum exposure to loss does not reflect Nomura’s estimate of the actual losses that could result from adverse changes, nor does it reflect the economic hedges Nomura enters into to reduce its exposure. The risks associated with VIEs in which Nomura is involved are limited to the amount recorded in the consolidated balance sheets and the amount of commitments and financial guarantees. Billions of yen March 31, 2019 Carrying amount of variable interests Maximum exposure to loss to unconsolidated VIEs Assets Liabilities Trading assets and liabilities Equities ¥ 29 ¥ — ¥ 29 Debt securities 109 — 109 CMBS and RMBS 2,654 — 2,654 Investment trust funds and other 153 — 153 Private equity and debt investments 12 — 12 Loans 593 — 593 Other 11 — 11 Commitments to extend credit and other guarantees — — 84 Total ¥ 3,561 ¥ — ¥ 3,645 Billions of yen March 31, 2020 Carrying amount of variable interests Maximum exposure to loss to unconsolidated VIEs Assets Liabilities Trading assets and liabilities Equities ¥ 35 ¥ — ¥ 35 Debt securities 73 — 73 CMBS and RMBS 3,631 — 3,631 Investment trust funds and other 170 — 170 Private equity and debt investments 11 — 11 Loans 835 — 835 Other 11 — 11 Commitments to extend credit and other guarantees — — 84 Total ¥ 4,766 ¥ — ¥ 4,850 |
Financing receivables
Financing receivables | 12 Months Ended |
Mar. 31, 2020 | |
Financing Receivables [Abstract] | |
Financing receivables | 7. Financing receivables: In the normal course of business, Nomura extends financing to clients primarily in the form of loans and collateralized agreements such as reverse repurchase agreements and securities borrowing transactions. These financing receivables are recognized as assets on Nomura’s consolidated balance sheets and provide a contractual right to receive money either on demand or on future fixed or determinable dates. Collateralized agreements Collateralized agreements Securities purchased under agreements to resell Securities borrowed from customers under agreements that also require Nomura to resell these securities to those customers, or borrowing these securities with cash collateral. Nomura monitors the value of the underlying securities on a daily basis to the related receivables, including accrued interest, and requests or returns additional collateral when appropriate. Reverse repurchase agreements are generally recognized in the consolidated balance sheets at the amount for which the securities were originally acquired with applicable accrued interest. Securities borrowing transactions are generally recognized in the consolidated balance sheets at the amount of cash collateral advanced. No allowance for credit losses is generally recognized against these transactions due to the strict collateralization requirements. Loans receivable The key types of loans receivable recognized by Nomura are loans at banks, short-term secured margin loans, inter-bank money market loans and corporate loans. Loans at banks include both retail and commercial secured and unsecured loans extended by licensed banking entities within Nomura such as The Nomura Trust & Banking Co., Ltd. and Nomura Bank International plc. For both retail and commercial loans secured by real estate or securities, Nomura is exposed to the risk of a decline in the value of the underlying collateral. Loans at banks also include unsecured commercial loans provided to investment banking clients for relationship purposes. Nomura is exposed to risk of default of the counterparty, although these counterparties usually have high credit ratings. Where loans are secured by guarantees, Nomura is also exposed to the risk of default by the guarantor. Short-term secured margin loans are loans provided to clients in connection with securities brokerage business. These loans provide funding for clients in order to purchase securities. Nomura requests initial margin in the form of acceptable collateral securities or deposits against these loans and holds the purchased securities as collateral through the life of the loans. If the value of the securities declines by more than specified amounts, Nomura can make additional margin calls in order to maintain a specified ratio of loan-to-value Inter-bank money market loans are loans to financial institutions in the inter-bank money market, where overnight and intra-day Corporate loans are primarily commercial loans provided to corporate clients extended by non-licensed The following tables present a summary of loans receivable reported within Loans receivable Investments in and advances to affiliated companies Millions of yen March 31, 2019 Carried at amortized cost Carried at fair value (1) Total Loans receivable Loans at banks ¥ 565,603 ¥ — ¥ 565,603 Short-term secured margin loans 334,389 5,088 339,477 Inter-bank money market loans 1,699 — 1,699 Corporate loans 977,942 659,497 1,637,439 Total loans receivable ¥ 1,879,633 ¥ 664,585 ¥ 2,544,218 Total ¥ 1,879,633 ¥ 664,585 ¥ 2,544,218 Millions of yen March 31, 2020 Carried at amortized cost Carried at fair value (1) Total Loans receivable Loans at banks ¥ 521,715 ¥ — ¥ 521,715 Short-term secured margin loans 296,833 8,905 305,738 Inter-bank money market loans 865 — 865 Corporate loans 1,232,851 796,236 2,029,087 Total loans receivable ¥ 2,052,264 ¥ 805,141 ¥ 2,857,405 Total ¥ 2,052,264 ¥ 805,141 ¥ 2,857,405 (1) Includes loans receivable and loan commitments carried at fair value through election of the fair value option. There were no significant purchases nor sales of loans receivable during the year ended March 31, 2019. During the same period, there were no significant reclassifications of loans receivable to trading assets. There were no significant purchases nor sales of loans receivable during the year ended March 31, 2020. During the same period, there were no significant reclassifications of loans receivable to trading assets. Allowance for credit losses Management establishes an allowance for credit losses against loans carried at amortized cost which reflects management’s best estimate of probable losses incurred. The allowance for credit losses against loans, which is reported in the consolidated balance sheets within Allowance for doubtful accounts • A specific component for loans which have been individually evaluated for impairment; and • A general component for loans which, while not individually evaluated for impairment, have been collectively evaluated for impairment based on historical loss experience. The specific component of the allowance reflects probable losses incurred within loans which have been individually evaluated for impairment. A loan is defined as being impaired when, based on current information and events, it is probable that all amounts according to the contractual terms of the loan agreement will not be collected. Factors considered by management in determining impairment include an assessment of the ability of borrowers to pay by considering various factors such as the nature of the loan, prior credit loss experience, current economic conditions, the current financial situation of the borrower and the fair value of any underlying collateral. Loans that experience insignificant payment delays or insignificant payment shortfalls are not classified as impaired. Impairment is measured on a loan by loan basis by adjusting the carrying value of the loan to either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s observable market price, or the fair value of the collateral if the loan is collateral dependent. The general component of the allowance is for loans not individually evaluated for impairment and includes judgment about collectability based on available information at the balance sheet date and the uncertainties inherent in those underlying assumptions. The allowance is based on historical loss experience adjusted for qualitative factors such as current economic conditions. As a result of the COVID-19 pandemic, determination of whether certain loans were impaired as of March 31, 2020 was increasingly judgmental when compared to prior years. When applying the factors discussed above to make this determination, additional consideration was given to how the COVID-19 pandemic would affect a borrower’s ability both to pay in the short-term while governments imposed lockdowns and similar restrictions on trading, and in the longer-term once the restrictions were lifted and economies were expected to improve. Various assumptions were made around the length and severity of the impact of the pandemic and the ability and timing of borrowers to recover. As of April 1, 2020 Nomura will adopt new guidance for determination of allowances for credit losses defined by ASC 326 “ Financial Instruments—Credit Losses Loans are charged-off The following tables present changes in the total allowance for credit losses for the years ended March 31, 2018, 2019 and 2020. The allowance for credit losses increased as of March 31, 2020 when compared to March 31, 2019 primarily as a result of specific impairments identified in March 2020 as a result of the COVID-19 Millions of yen Year ended March 31, 2018 Allowance for credit losses against loans Allowance for credit losses against receivables other than loans Total allowance for doubtful accounts Loans at banks Short-term secured margin loans Corporate loans Subtotal Opening balance ¥ 968 ¥ — ¥ 473 ¥ 1,441 ¥ 2,110 ¥ 3,551 Provision for credit losses 172 — (26 ) 146 24 170 Charge-offs 0 — — 0 — 0 Other (1) — — (30 ) (30 ) (177 ) (207 ) Ending balance ¥ 1,140 ¥ — ¥ 417 ¥ 1,557 ¥ 1,957 ¥ 3,514 Millions of yen Year ended March 31, 2019 Allowance for credit losses against loans Allowance for credit losses against receivables other than loans Total allowance for doubtful accounts Loans at banks Short-term secured margin loans Corporate loans Subtotal Opening balance ¥ 1,140 ¥ — ¥ 417 ¥ 1,557 ¥ 1,957 ¥ 3,514 Provision for credit losses 7 364 434 805 30 835 Charge-offs (95 ) — (0 ) (95 ) (102 ) (197 ) Other (1) — 6 17 23 (6 ) 17 Ending balance ¥ 1,052 ¥ 370 ¥ 868 ¥ 2,290 ¥ 1,879 ¥ 4,169 Millions of yen Year ended March 31, 2020 Allowance for credit losses against loans Allowance for credit losses against receivables other than loans Total allowance for doubtful accounts Loans at banks Short-term secured margin loans Corporate loans Subtotal Opening balance ¥ 1,052 ¥ 370 ¥ 868 ¥ 2,290 ¥ 1,879 ¥ 4,169 Provision for credit losses 512 — 7,125 7,637 1,451 9,088 Charge-offs — — — — (162 ) (162 ) Other (1) — (18 ) (49 ) (67 ) (16 ) (83 ) Ending balance ¥ 1,564 ¥ 352 ¥ 7,944 ¥ 9,860 ¥ 3,152 ¥ 13,012 (1) Includes the effect of foreign exchange movements. The following tables present the allowance for credit losses against loans and loans by impairment methodology and type of loans as of March 31, 2019 and 2020. Millions of yen March 31, 2019 Loans at banks Short-term secured margin loans Inter-bank money market loans Corporate loans Total Allowance by impairment methodology Evaluated individually ¥ — ¥ 370 ¥ — ¥ 868 ¥ 1,238 Evaluated collectively 1,052 — — — 1,052 Total allowance for credit losses ¥ 1,052 ¥ 370 ¥ — ¥ 868 ¥ 2,290 Loans by impairment methodology Evaluated individually ¥ 2,792 ¥ 166,148 ¥ 1,699 ¥ 976,096 ¥ 1,146,735 Evaluated collectively 562,811 168,241 — 1,846 732,898 Total loans ¥ 565,603 ¥ 334,389 ¥ 1,699 ¥ 977,942 ¥ 1,879,633 Millions of yen March 31, 2020 Loans at banks Short-term secured margin loans Inter-bank money market loans Corporate loans Total Allowance by impairment methodology Evaluated individually ¥ — ¥ 352 ¥ — ¥ 7,944 ¥ 8,296 Evaluated collectively 1,564 — — — 1,564 Total allowance for credit losses ¥ 1,564 ¥ 352 ¥ — ¥ 7,944 ¥ 9,860 Loans by impairment methodology Evaluated individually ¥ 3,120 ¥ 147,364 ¥ 865 ¥ 1,232,681 ¥ 1,384,030 Evaluated collectively 518,595 149,469 — 170 668,234 Total loans ¥ 521,715 ¥ 296,833 ¥ 865 ¥ 1,232,851 ¥ 2,052,264 Loan impairment and troubled debt restructurings In the ordinary course of business, Nomura may choose to modify a loan classified as held for investment either because of financial difficulties of the borrower, or simply as a result of market conditions or relationship reasons. TDR occurs when Nomura as lender, for economic or legal reasons related to the borrower’s financial difficulties grants a concession to the borrower that Nomura would not otherwise consider. Any loan being modified under a TDR will generally already be identified as impaired with an applicable allowance for credit losses recognized. If not (for example if the loan is collectively assessed for impairment with other loans), the modification of the loan under a TDR will immediately result in the loan as being classified as impaired. An impairment loss for a loan modification under a TDR which only involves modification of the loan’s terms (rather than receipt of assets in full or partial settlement) is calculated in the same way as any other impaired loan. Assets received in full or partial satisfaction of a loan in a TDR are recognized at fair value. As of March 31, 2020 and since such date, discussions continue with various borrowers to modify the existing contractual terms of certain loans. These modifications where the borrower is deemed to be in financial difficulty and Nomura has, or expects to, grant a financial concession would typically be accounted for as a TDR and the loan classified as impaired. However, consistent with guidance issued by US banking regulators in March 2020 as a result of the COVID-19 pandemic, modifications which meet the above criteria have not been accounted for TDRs nor the loan classified as impaired as of March 31, 2020 provided the borrower was current with payments prior to the COVID-19 pandemic, the nature of the concession is short-term and only permits a payment delay, waiver of fees or extension of repayment terms. As of March 31, 2019, the amount of loans which were classified as impaired but against which no allowance for credit losses had been recognized was not significant. For impaired loans with a related allowance, the amount of recorded investment, the total unpaid principal balance and the related allowance was not significant. As of March 31, 2020, the amount of loans which were classified as impaired but against which no allowance for credit losses had been recognized was not significant. For impaired loans with a related allowance, the amount of recorded investment and the total unpaid principal balance were ¥14,678 million. The related allowance was ¥8,282 million. The amounts of TDRs which occurred during the years ended March 31, 2019 and 2020 were not significant. Nonaccrual and past due loans Loans which are individually evaluated as impaired are also placed on a nonaccrual status. When it is determined to suspend interest accrual as a result of an assessment, any accrued but unpaid interest is reversed. Loans are generally only returned to an accrual status if the loan is brought contractually current, i.e. all overdue principal and interest amounts are paid. In limited circumstances, a loan which has not been brought contractually current will also be returned to an accrual status if all principal and interest amounts contractually due are reasonably assured of repayment within a reasonable period of time or there has been a sustained period of repayment performance by the borrower. Loans which have been modified, or are in the process of being modified, through modifications which do not meet the definition of a TDR through application of the interagency guidance referred to above have not been placed on a non-accrual status as of March 31, 2020. As of March 31, 2019, the amount of loans which were placed on a nonaccrual status was not significant. The amount of loans which were 90 days past due was not significant. As of March 31, 2020, there were ¥14,658 million of loans which were placed on a nonaccrual status, primarily secured and unsecured corporate loans. The amount of loans which were 90 days past due was not significant. Once a loan is impaired and placed on a nonaccrual status, interest income is subsequently recognized using the cash basis method. Credit quality indicators Nomura is exposed to credit risks deriving from a decline in the value of loans or a default caused by deterioration of creditworthiness or bankruptcy of the obligor. Nomura’s risk management framework for such credit risks is based on a risk assessment through an internal rating process, in depth pre-financing The following tables present an analysis of each class of loans not carried at fair value using Nomura’s internal ratings or equivalent credit quality indicators applied by subsidiaries as of March 31, 2019 and 2020. Millions of yen March 31, 2019 AAA-BBB BB-CCC CC-D Others (1) Total Secured loans at banks ¥ 149,048 ¥ 127,309 ¥ — ¥ 54,545 ¥ 330,902 Unsecured loans at banks 233,201 1,500 — — 234,701 Short-term secured margin loans — — — 334,389 334,389 Unsecured inter-bank money market loans 1,699 — — — 1,699 Secured corporate loans 474,305 439,156 — 4,025 917,486 Unsecured corporate loans 16,467 311 — 43,678 60,456 Total ¥ 874,720 ¥ 568,276 ¥ — ¥ 436,637 ¥ 1,879,633 Millions of yen March 31, 2020 AAA-BBB BB-CCC CC-D Others (1) Total Secured loans at banks ¥ 167,886 ¥ 169,335 ¥ — ¥ 52,392 ¥ 389,613 Unsecured loans at banks 130,649 1,453 — — 132,102 Short-term secured margin loans — — — 296,833 296,833 Unsecured inter-bank money market loans 865 — — — 865 Secured corporate loans 689,801 415,742 — 17,537 1,123,080 Unsecured corporate loans 6,176 18,434 — 85,161 109,771 Total ¥ 995,377 ¥ 604,964 ¥ — ¥ 451,923 ¥ 2,052,264 (1) Relate to collateralized exposures where a specified ratio of LTV is maintained. The following table presents a definition of each of the internal ratings used in the Nomura Group. Rating Range Definition AAA Highest credit quality. An obligor or facility has extremely strong capacity to meet its financial commitments. ‘AAA range’ is the highest credit rating assigned by Nomura. Extremely low probability of default. AA Very high credit quality category. An obligor or facility has very strong capacity to meet its financial commitments. Very low probability of default but above that of ‘AAA range.’ A High credit quality category. An obligor or facility has strong capacity to meet its financial commitments but is somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than those in higher-rated categories. Low probability of default but higher than that of ‘AA range.’ BBB Good credit quality category. An obligor or facility has adequate capacity to meet its financial commitments. However, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity to meet its financial commitments. Medium probability of default but higher than that of ‘A range.’ BB Speculative credit quality category. An obligor or facility is less vulnerable in the near term than other lower-ratings. However, it faces major ongoing uncertainties and exposure to adverse business, financial, or economic conditions which could lead to the inadequate capacity to meet its financial commitments. Medium to high probability of default but higher than that of ‘BBB range.’ B Highly speculative credit quality category. An obligor or facility is more vulnerable than those rated ‘BB range’, but the obligor currently has the capacity to meet its financial commitments. Adverse business, financial, or economic conditions will likely impair the issuer’s or obligor’s capacity or willingness to meet its financial commitments. High probability of default—more than that of ‘BB range.’ CCC Substantial credit risk. An obligor or facility is currently vulnerable, and is dependent upon favorable business, financial, and economic conditions to meet its financial commitments. Strong probability of default—more than that of ‘B range.’ CC An obligor or facility is currently highly vulnerable to nonpayment (default category). C An obligor or facility is currently extremely vulnerable to nonpayment (default category). D Failure of an obligor to make payments in full and on time of any financial obligations, markedly disadvantageous modification to a contractual term compared with the existing obligation, bankruptcy filings, administration, receivership, liquidation or other winding-up Nomura reviews internal ratings at least once a year by using available credit information of borrowers (obligors) including financial statements and other information. Internal ratings are also reviewed more frequently for high-risk obligors, problematic exposures and upon the occurrence of significant regional or global credit events. As a result of the COVID-19 pandemic, the internal ratings of obligors in particular jurisdictions and sectors impacted by the pandemic were reviewed and updated in March and April 2020. |
Leases
Leases | 12 Months Ended |
Mar. 31, 2020 | |
Leases [Abstract] | |
Leases | 8. Leases: Nomura as lessor Nomura leases office buildings and aircrafts in Japan and overseas either as head lessor or through subleases. These leases and subleases are primarily classified as operating leases. The related assets are stated at cost, net of accumulated depreciation, except for land, which is stated at cost in the consolidated balance sheets and reported within Other assets-Office buildings, land, equipment and facilities. The following table presents the types of assets which Nomura leases under operating leases: Millions of yen March 31 2019 2020 Cost Accumulated depreciation Net carrying amount Cost Accumulated depreciation Net carrying amount Real estate (1) ¥ 2,771 ¥ (1,498 ) ¥ 1,273 ¥ 354 ¥ (285 ) ¥ 69 Aircraft 55,130 (310 ) 54,820 16,071 (648 ) 15,423 Total ¥ 57,901 ¥ (1,808 ) ¥ 56,093 ¥ 16,425 ¥ (933 ) ¥ 15,492 (1) Cost, accumulated depreciation and net carrying amounts include amounts relating to real estate utilized by Nomura. Nomura recognized lease income of ¥1,377 million, ¥2,292 million and ¥2,732 million for the years ended March 31, 2018, 2019 and 2020, respectively. These are included in the consolidated statements of income within Revenue—Other The following table presents an analysis of future undiscounted lease payments to be received in connection with noncancellable operating leases entered into by Nomura as lessor over the remaining lease term as of March 31, 2020. Amounts in connection with finance leases were not significant. Millions of yen March 31, 2020 Minimum lease payments to be received Years of receipt Less than 1 year ¥ 1,308 1 to 2 years 1,308 2 to 3 years 1,270 3 to 4 years 1,243 4 to 5 years 1,243 More than 5 years 7,638 Total ¥ 14,010 Nomura as lessee Nomura enters into leases of office space, residential facilities for employees, motor vehicles, equipment and technology assets in the ordinary course of business in both Japan and overseas as lessee. These arrangements predominantly consist of operating leases. Separately Nomura subleases certain real estate and equipment through operating lease arrangements. Nomura has adopted ASC 842 “ Leases r The total carrying value of ROU asset recognized in connection with finance leases as of March 31, 2020 was not significant. These lease assets are reported within Other assets—Office buildings, land, equipment and facilities Rental expenses, net of sublease rental income, for the years ended March 31, 2018 and 2019 under noncancellable operating lease agreements were ¥44,202 million and ¥44,564 million, respectively. The amount of capital lease assets as of March 31, 2019 was ¥26,561 million and accumulated depreciations on such capital lease assets as of March 31, 2019 was ¥8,272 million, which were reported within Other Assets—Office buildings, land, equipment and facilities The following table presents income and expense amounts recognized through the consolidated statements of income for leases where Nomura is acting as lessee for the year ended March 31, 2020. Amounts for finance lease cost, short-term lease cost, variable lease cost and net gains (losses) on qualifying sale and leaseback transactions were not significant to the consolidated statements of income for the year ended March 31, 2020 . Millions of yen Year ended March 31, 2020 Lease expense: Operating lease costs ¥ 48,475 Other income and expenses: Gross sublease income (1) ¥ 5,377 (1) Gross sublease income represents income from subleases separate from lease payments made by Nomura on the head lease as lessee. Lease cash flow information Lease payments made in cash in connection with operating leases are classified as operating activity in the consolidated statements of cash flows. The initial recognition of ROU assets and lease liabilities on lease commencement date represents noncash transactions. The following table presents cash payments made by Nomura as lessee which meet the definition of lease payments and therefore have been included in the measurement of operating lease liabilities recorded under operating cash flows and the total amount of ROU assets and lease liabilities recognized during the year ended March 31, 2020 . Millions of yen Year ended March 31, 2020 Operating cash flows ¥ 47,212 ROU assets recognized in connection with new operating leases ¥ 18,026 Maturity analysis of lease liabilities The following table presents an analysis of future undiscounted lease payments under operating leases entered into by Nomura as lessee over the remaining lease term as of March 31, 2020 and also represents a reconciliation between total of such lease payments and the discounted carrying value of operating lease liabilities recognized in the consolidated balance sheets as of March 31, 2020. Finance lease liabilities were not significant as of March 31, 2020. These lease liabilities are reported within Other liabilities Millions of yen March 31, 2020 Operating leases Years of payment Less than 1 year ¥ 41,270 1 to 2 years 31,087 2 to 3 years 25,262 3 to 4 years 23,081 4 to 5 years 20,670 More than 5 years 74,546 Total undiscounted lease payments ¥ 215,916 Less: Impact of discounting (23,756 ) Lease liabilities as reported in the consolidated balance sheets ¥ 192,160 The following table presents the weighted-average discount rate used to measure lease liabilities and the weighted-average remaining lease term of operating leases as of March 31, 2020. March 2020 Operati ng leases Weighted-average discount rate used to measure lease liabilities 2.2% Weighted-average remaining lease term 7.7 years |
Business Combinations
Business Combinations | 12 Months Ended |
Mar. 31, 2020 | |
Business Combinations [Abstract] | |
Business Combinations | 9. Business combinations: On April 1, 2020, Nomura acquired 100% of Greentech Capital, LLC (“Greentech”), a leading M&A advisory boutique in sustainable technology and infrastructure in the United States. The acquisition of Greentech comprises an initial cash payment and additional contingent payments based on future performance of the company. The transaction has been accounted for as a business combination under ASC 805 and consideration for the purchase as used to determine goodwill was ¥ million which includes the estimated fair value of contingent payments accounted for as contingent consideration on acquisition date. Changes in the fair value of contingent consideration are recognized in the consolidated statements of income until the contingency is resolved. Contingent payments linked to future employment of employees of Greentech are recognized in the consolidated statements of income as compensation expense over the relevant service period and when payment of those amounts becomes probable . |
Other assets-Other _ Other liab
Other assets-Other / Other liabilities | 12 Months Ended |
Mar. 31, 2020 | |
Other assets-Other / Other liabilities [Abstract] | |
Other assets-Other / Other liabilities | 10. Other assets—Other / Other liabilities: The following table presents components of Other assets—Other Other liabilities Millions of yen March 31 2019 2020 Other assets—Other: Securities received as collateral ¥ 282,656 ¥ 290,269 Goodwill and other intangible assets 19,792 17,783 Deferred tax assets net 15,026 13,431 Investments in equity securities for other than operating purposes (1) 175,015 141,855 Prepaid expenses 14,544 16,262 Other 241,058 347,422 Total ¥ 748,091 ¥ 827,022 Other liabilities: Obligation to return securities received as collateral ¥ 282,656 ¥ 290,269 Accrued income taxes 11,898 16,362 Other accrued expenses and provisions 401,408 396,560 Other (2) 162,905 331,257 Total ¥ 858,867 ¥ 1,034,448 (1) Includes marketable and non-marketable comprise Revenue—Other (2) As a result of adopting ASU 2016-02 as of April 1, 2019, operating lease liabilities are presented through Other liabilities—Other Goodwill is recognized upon completion of a business combination as the difference between the purchase price and the fair value of the net assets acquired. Subsequent to initial recognition, goodwill is not amortized but is tested for impairment during the fourth quarter of each fiscal year, or more often if events or circumstances, such as adverse changes in the business climate, indicate there may be impairment. Impairment testing of goodwill is inherently subjective and often requires management judgment to determine when to perform an impairment test, whether qualitatively the fair value of a reporting unit exceeds its carrying value and also to estimate the fair value of a reporting unit when a quantitative impairment test is required. An annual goodwill impairment test was performed in the fourth quarter. Whilst determination of fair value of the reporting unit was more subjective because of the impact of the COVID-19 pandemic, the estimated fair value of the reporting unit exceeded carrying value and therefore no impairment loss was recognized. The following table presents changes in goodwill, which are reported in the consolidated balance sheets within Other assets—Other Millions of yen Year ended March 31, 2019 Beginning of year Changes during year End of year Gross carrying amount Accumulated Impairment Net amount Acquisition Impairment (2) Other (1) Gross carrying amount Accumulated Impairment Net amount Wholesale ¥ 89,492 ¥ (11,442 ) ¥ 78,050 ¥ — ¥ (81,372 ) ¥ 3,322 ¥ 92,814 ¥ (92,814 ) ¥ — Other 473 — 473 — — 1 474 — 474 Total ¥ 89,965 ¥ (11,442 ) ¥ 78,523 ¥ — ¥ (81,372 ) ¥ 3,323 ¥ 93,288 ¥ (92,814 ) ¥ 474 Millions of yen Year ended March 31, 2020 Beginning of year Changes during year End of year Gross carrying amount Accumulated Impairment Net amount Acquisition Impairment Other (1) Gross carrying amount Accumulated Impairment Net amount Wholesale ¥ 92,814 ¥ (92,814 ) ¥ — ¥ — ¥ — ¥ — ¥ 92,814 ¥ (92,814 ) ¥ — Other 474 — 474 — — (2 ) 472 — 472 Total ¥ 93,288 ¥ (92,814 ) ¥ 474 ¥ — ¥ — ¥ (2 ) ¥ 93,286 ¥ (92,814 ) ¥ 472 (1) Includes currency translation adjustments. (2) For the year ended March 31, 2019, Nomura recognized impairment losses on goodwill of ¥81,372 million within the Wholesale segment. Nomura performed an impairment test based on Wholesale performance and changes in the operating environment, and impaired goodwill within the Wholesale segment. As a result, the balance of goodwill within the Wholesale segment as of March 31, 2019 was ¥nil. These impairment losses were recorded within Non-interest expense—Other During the fourth quarter, management considered but determined the COVID-19 pandemic did not indicate that certain finite-lived intangible assets were impaired. As a result, a formal impairment test over the relevant asset groups which include these intangible assets was not required. The following table presents finite-lived intangible assets by type as of March 31, 2019 and 2020. Millions of yen March 31, 2019 March 31, 2020 Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Client relationships ¥ 64,381 ¥ (54,686 ) ¥ 9,695 ¥ 63,331 ¥ (55,342 ) ¥ 7,989 Other 1,050 (280 ) 770 999 (373 ) 626 Total ¥ 65,431 ¥ (54,966 ) ¥ 10,465 ¥ 64,330 ¥ (55,715 ) ¥ 8,615 Amortization expenses for the years ended March 31, 2018, 2019 and 2020 were ¥3,324 million, ¥2,504 million and ¥1,662 million, respectively. Estimated amortization expenses for the next five years are shown below. Millions of yen Year ending March 31 Estimated amortization expense 2021 ¥ 4,050 2022 3,296 2023 181 2024 177 2025 174 The am ounts of indefinite-lived intangibles, which primarily includes trademarks, were ¥ million and ¥ million as of March 31, 2019 and 2020, respectively. An annual impairment test was performed in the fourth quarter against these intangibles. Whilst determination of fair value of these intangibles was more subjective because of the impact of the COVID-19 pandemic, the estimated fair value of each intangible exceeded carrying value and therefore no impairment loss was recognized. |
Borrowings
Borrowings | 12 Months Ended |
Mar. 31, 2020 | |
Borrowings [Abstract] | |
Borrowings | 11. Borrowings: The following table presents short-term and long-term borrowings of Nomura as of March 31, 2019 and 2020. Millions of yen March 31 2019 2020 Short-term borrowings (1) Commercial paper ¥ 313,000 ¥ 525,124 Bank borrowings 77,101 565,130 Other 451,657 396,479 Total ¥ 841,758 ¥ 1,486,733 Long-term borrowings: Long-term borrowings from banks and other financial institutions (2) ¥ 3,109,606 ¥ 2,929,313 Bonds and notes issued (3) Fixed-rate obligations: Japanese yen denominated 925,215 832,589 Non-Japanese 1,048,497 1,376,346 Floating-rate obligations: Japanese yen denominated 848,470 744,275 Non-Japanese 265,154 242,612 Index / Equity-linked obligations: Japanese yen denominated 978,438 899,765 Non-Japanese 715,891 696,041 4,781,665 4,791,628 Subtotal 7,891,271 7,720,941 Trading balances of secured borrowings 24,498 54,724 Total ¥ 7,915,769 ¥ 7,775,665 (1) Includes secured borrowings of ¥173,690 million as of March 31, 2019 and ¥170,290 million as of March 31, 2020. (2) Includes secured borrowings of ¥65,517 million as of March 31, 2019 and ¥72,543 million as of March 31, 2020. (3) Includes secured borrowings of ¥910,224 million as of March 31, 2019 and ¥774,319 million as of March 31, 2020. Trading balances of secured borrowings These are liabilities recognized when a transfer of a financial asset does not meet the criteria for sales accounting under ASC 860 and therefore the transaction is accounted for as a secured borrowing. These borrowings are part of Nomura’s trading activities intended to generate profits from the distribution of financial products secured by those financial assets. Long-term borrowings consisted of the following: Millions of yen March 31 2019 2020 Debt issued by the Company ¥ 2,869,376 ¥ 2,873,634 Debt issued by subsidiaries—guaranteed by the Company 2,590,768 2,541,554 Debt issued by subsidiaries—not guaranteed by the Company (1) 2,455,625 2,360,477 Total ¥ 7,915,769 ¥ 7,775,665 (1) Includes trading balances of secured borrowings. As of March 31, 2019, fixed-rate long-term borrowings mature between 2019 and 2067 at interest rates ranging from 0.00% to 24.40%. Excluding perpetual subordinated debts, floating-rate obligations, which are generally based on LIBOR, mature between 2019 and 2049 at interest rates ranging from 0.00% to 6.78%. Index / Equity-linked obligations mature between 2019 and 2049 at interest rates ranging from 0.00% to 30.30%. As of March 31, 2020, fixed-rate long-term borrowings mature between 2020 and 2067 at interest rates ranging from 0.00% to 24.40%. Excluding perpetual subordinated debts, floating-rate obligations, which are generally based on LIBOR, mature between 2020 and 2050 at interest rates ranging from 0.00% to 5.00%. Index / Equity-linked obligations mature between 2020 and 2050 at interest rates ranging from 0.00% to 39.90%. Certain borrowing agreements contain provisions whereby the borrowings are redeemable at the option of the borrower at specified dates prior to maturity and include various equity-linked or other index-linked instruments. Nomura enters into swap agreements to manage its exposure to interest rates and foreign exchange rates. Principally, debt securities and notes issued are effectively converted to LIBOR-based floating rate obligations through such swap agreements. The carrying value of the long-term borrowings includes adjustments to reflect fair value hedges. Following table presents the effective weighted-average interest rates of borrowings, including the effect of fair value hedges as of March 31, 2019 and 2020. March 31 2019 2020 Short-term borrowings 1.00 % 0.72 % Long-term borrowings 1.33 % 1.17 % Fixed-rate obligations 1.28 % 1.11 % Floating-rate obligations 1.57 % 1.37 % Index / Equity-linked obligations 0.86 % 0.80 % Maturities of long-term borrowings The following table presents the aggregate annual maturities of long-term borrowings, including adjustments related to fair value hedges and liabilities measured at fair value, as of March 31, 2020: Year ending March 31 Millions of yen 2021 ¥ 778,008 2022 560,085 2023 664,173 2024 618,905 2025 1,026,748 2026 and thereafter 4,073,022 Subtotal 7,720,941 Trading balances of secured borrowings 54,724 Total ¥ 7,775,665 Borrowing facilities As of March 31, 2019 and 2020, Nomura had unutilized borrowing facilities of ¥nil and ¥nil, respectively. Subordinated borrowings As of March 31, 2019 and 2020, subordinated borrowings were ¥418,200 million and ¥318,200 million, respectively. |
Earnings per share
Earnings per share | 12 Months Ended |
Mar. 31, 2020 | |
Earnings Per Share [Abstract] | |
Earnings per share | 12. Earnings per share: Basic and diluted earnings per share (“EPS”) are presented on the face of the consolidated statements of income. Basic EPS is calculated by dividing net income (loss) attributable to NHI shareholders by the weighted average number of the Company’s common shares outstanding during the year. The calculation of diluted EPS is similar to basic EPS, except that the weighted average number of the Company’s common shares is adjusted to reflect all dilutive instruments where the Company’s common shares are potentially deliverable during the year. In addition, net income (loss) attributable to NHI shareholders is adjusted for any change in income or loss that would result from the assumed conversion of dilutive instruments issued by subsidiaries and affiliates. The following table presents a reconciliation of the amounts and the numbers used in the calculation of net income (loss) attributable to NHI shareholders per share (basic and diluted) for the years ended March 31, 2018, 2019 and 2020. Millions of yen except per share data presented in yen Year ended March 31 2018 2019 2020 Basic— Net income (loss) attributable to NHI shareholders ¥ 219,343 ¥ (100,442 ) ¥ 216,998 Weighted average number of shares outstanding 3,474,593,441 3,359,564,840 3,202,369,845 Net income (loss) attributable to NHI shareholders per share ¥ 63.13 ¥ (29.90 ) ¥ 67.76 Diluted — Net income (loss) attributable to NHI shareholders ¥ 219,266 ¥ (100,525 ) ¥ 216,890 Weighted average number of shares outstanding 3,543,602,532 3,359,566,740 3,276,510,404 Net income (loss) attributable to NHI shareholders per share ¥ 61.88 ¥ (29.92 ) ¥ 66.20 Net income (loss) attributable to NHI shareholders was adjusted to reflect the decline in Nomura’s equity share of earnings of subsidiaries and affiliates for the years ended March 31, 2018, 2019 and 2020 arising from options to purchase common shares issued by subsidiaries and affiliates. The weighted average number of shares used in the calculation of diluted EPS reflects the increase in potential issuance of the Company’s common shares arising from stock-based compensation plans by the Company and affiliates, which would have minimal impact on EPS for the years ended March 31, 2018, 2019 and 2020. Antidilutive stock options and other stock-based compensation plans to purchase or deliver 13,035,600, 104,496,000 and 15,452,900 of the Company’s common shares were not included in the computation of diluted EPS for the years ended March 31, 2018, 2019 and 2020, respectively. Subsequent Events On May 27 Deferred compensation awards |
Employee benefit plans
Employee benefit plans | 12 Months Ended |
Mar. 31, 2020 | |
Employee Benefit Plans [Abstract] | |
Employee benefit plans | 13. Employee benefit plans: Nomura provides various pension plans and other post-retirement benefits which cover certain eligible employees worldwide. In addition, Nomura provides health care benefits to certain active and retired employees through its Nomura Securities Health Insurance Society (“NSHIS”). Defined benefit pension plans— The Company and certain subsidiaries in Japan (“Japanese entities”) have contributory funded benefit pension plans for eligible employees. The benefits are paid as annuity payments subsequent to retirement or as lump-sum lump-sum lump-sum lump-sum Interest rate applicable to cash balance pension plans is set in April of each fiscal year based on Japanese Yen LIBOR 12 months. The interest rate which was applied to the year ended March 31, 2020 was 0.09033%. In April defined lump-sum either closed for additional funding or for future contributions Certain overseas subsidiaries have various local defined benefit plans covering certain employees. Nomura recognized an asset for surplus pension benefits for these plans amounting to ¥12,762 million and ¥13,949 million as of March 31, 2019 and 2020, respectively. Net periodic benefit cost The following table presents the components of net periodic benefit cost for defined benefit plans of Japanese entities for the years ended March 31, 2018, 2019 and 2020. Nomura’s measurement date is March 31 for defined benefit plans of Japanese entities. Millions of yen Year ended March 31 2018 2019 2020 Service cost ¥ 9,565 ¥ 11,270 ¥ 12,079 Interest cost 2,258 2,180 1,766 Expected return on plan assets (6,066 ) (6,068 ) (6,038 ) Amortization of net actuarial losses 2,979 3,831 5,654 Amortization of prior service cost (1,061 ) (1,059 ) (1,137 ) Net periodic benefit cost ¥ 7,675 ¥ 10,154 ¥ 12,324 Prior service cost is amortized on a straight-line basis over the average remaining service period of active participants. Gains and losses in excess of 10% of the greater of the projected benefit obligation or the fair value of plan assets are amortized over the average remaining service period of active participants, which is 14 years. Benefit obligations and funded status The following table presents a reconciliation of changes in projected benefit obligation (“PBO”) and the fair value of plan assets, as well as a summary of the funded status of Japanese entities’ plans as of, and for the years ended March 31, 2019 and 2020. Millions of yen As of or for the year 2019 2020 Change in projected benefit obligation: Projected benefit obligation at beginning of year ¥ 287,983 ¥ 315,423 Service cost 11,270 12,079 Interest cost 2,180 1,766 Actuarial gain 25,855 (5,642 ) Benefits paid (11,953 ) (13,301 ) Amendments of pension benefit plans — (6,818 ) Acquisition, divestitures and other 88 16 Projected benefit obligation at end of year ¥ 315,423 ¥ 303,523 Change in plan assets: Fair value of plan assets at beginning of year ¥ 234,050 ¥ 232,885 Actual return on plan assets 3,574 (2,934 ) Employer contributions 4,484 5,584 Benefits paid (9,223 ) (9,791 ) Fair value of plan assets at end of year ¥ 232,885 ¥ 225,744 Funded status at end of year (82,538 ) (77,779 ) Amounts recognized in the consolidated balance sheets ¥ (82,538 ) ¥ (77,779 ) The accumulated benefit obligation (“ABO”) was ¥315,423 million and ¥303,523 million as of March 31, 2019 and 2020, respectively. In April for future contributions defined lump-sum lump-sum The following table presents the PBO, ABO and fair value of plan assets for Japanese entities’ plans with ABO and PBO in excess of plan assets as of March 31, 2019 and 2020. Millions of yen March 31 2019 2020 Plans with ABO in excess of plan assets: PBO ¥ 82,538 ¥ 77,779 ABO 82,538 77,779 Fair value of plan assets — — Plans with PBO in excess of plan assets: PBO ¥ 82,538 ¥ 77,779 ABO 82,538 77,779 Fair value of plan assets — — The following table presents pre-tax Accumulated other comprehensive income (loss) Millions of yen For the year ended March 31, 2020 Net actuarial loss ¥ 107,098 Net prior service cost (11,281 ) Total ¥ 95,817 Pre-tax Millions of yen For the year ending March 31, 2021 Net actuarial loss ¥ 5,486 Net prior service cost (1,601 ) Total ¥ 3,885 Assumptions The following table presents the weighted-average assumptions used to determine projected benefit obligations of Japanese entities’ plans as of March 31, 2019 and 2020. March 31 2019 2020 Discount rate 0.6 % 0.6 % Rate of increase in compensation levels 1.6 % 0.3 % The following table presents the weighted-average assumptions used to determine the net periodic benefit cost of Japanese entities’ plans as of March 31, 2018, 2019 and 2020. Year ended March 31 2018 2019 2020 Discount rate 0.9 % 0.8 % 0.6 % Rate of increase in compensation levels 2.5 % 1.7 % 1.6 % Expected long-term rate of return on plan assets 2.6 % 2.6 % 2.6 % Nomura generally determines the discount rates for its defined benefit plans by referencing indices for long-term, high-quality debt securities and ensuring that the discount rate does not exceed the yield reported for those indices after adjustment for the duration of the plans’ liabilities. Nomura uses the expected long-term rate of return on plan assets to compute the expected return on assets. Nomura’s approach in determining the long-term rate of return on plan assets is primarily based on historical financial market relationships that have existed over time with the presumption that this trend will generally remain constant in the future. Plan assets Plan assets are managed with an objective to generate sufficient long-term value in order to enable future pension payouts. While targeting a long-term rate of return on plan assets, Nomura aims to minimize short-term volatility by managing the portfolio through diversifying risk. Based on this portfolio policy, the plan assets are invested diversely. The plan assets of domestic plans target to invest 15% in equities (including private equity investments), 44% in debt securities, 25% in life insurance company general accounts, and 16% in other investments. Investment allocations are generally reviewed and revised at the time of the actual revaluation that takes place every five years or when there is a significant change in the portfolio assumptions. For details of the levels of inputs used to measure the fair value of plan assets, see Note 2 “ Fair value measurements The following tables present information about the fair value of plan assets of Japanese entities’ plans as of March 31, 2019 and March 31, 2020 within the fair value hierarchy. Millions of yen March 31, 2019 Level 1 Level 2 Level 3 Balance as of March 31, Pension plan assets: Equities ¥ 21,991 ¥ — ¥ — ¥ 21,991 Private equity and pooled investments (1) — 9,145 3,823 12,968 Japanese government securities 25,980 — — 25,980 Foreign government, agency and municipal securities — 22 — 22 Bank and corporate debt securities 2,566 2,082 — 4,648 Investment trust funds and other (2)(3) — 6,070 50,560 56,630 Life insurance company general accounts — 64,437 — 64,437 Other assets — 39,748 — 39,748 Total ¥ 50,537 ¥ 121,504 ¥ 54,383 ¥ 226,424 Millions of yen March 31, 2020 Level 1 Level 2 Level 3 Balance as of March 31, Pension plan assets: Equities ¥ — ¥ — ¥ — ¥ — Private equity and pooled investments (1) — 1,901 23,465 25,366 Japanese government securities 23,464 — — 23,464 Foreign government, agency and municipal securities — — — — Bank and corporate debt securities — — — — Investment trust funds and other (2)(3) — 22,027 41,616 63,643 Life insurance company general accounts — 66,363 — 66,363 Other assets — 40,508 — 40,508 Total ¥ 23,464 ¥ 130,799 ¥ 65,081 ¥ 219,344 (1) Includes corporate type equity investments. (2) Includes mainly debt investment funds. Hedge funds and real estate funds are also included. ( 3 Certain assets that are measured at fair value using net asset value per share as a practical expedient have not been classified in the fair value hierarchy. As of March 31, 2019 2020 The fair value of plan assets of non-Japanese non-Japanese See Note 2 “ Fair value measurements The following tables present information about plan assets of Japanese entities’ plans for which Nomura has utilized significant Level 3 valuation inputs to estimate fair value. Millions of yen Year ended March 31, 2019 Balance as of April 1, 2018 Unrealized and realized gains / loss Purchases / sales and other settlement Balance as of March 31, 2019 Private equity and pooled investments ¥ 3,639 ¥ (349 ) ¥ 533 ¥ 3,823 Investment trust funds and other 48,088 937 1,535 50,560 Total ¥ 51,727 ¥ 588 ¥ 2,068 ¥ 54,383 Millions of yen Year ended March 31, 2020 Balance as of April 1, 2019 Unrealized and realized gains / loss Purchases / sales and other settlement Balance as of March 31, 2020 Private equity and pooled investments ¥ 3,823 ¥ (4,403 ) ¥ 24,045 ¥ 23,465 Investment trust funds and other 50,560 (3,262 ) (5,682 ) 41,616 Total ¥ 54,383 ¥ (7,665 ) ¥ 18,363 ¥ 65,081 The fair value of Level 3 plan assets of non-Japanese Cash Flows Following the amendments of pension benefit plans in Japanese entities, certain contributory funded benefit pension plans were closed for additional funding and will be managed within the accumulated funds. The following table presents the expected benefit payments of Japanese entities’ plans during the next five fiscal years and in aggregate for the five fiscal years thereafter. Year ending March 31 Millions of yen 2021 ¥ 13,167 2022 12,231 2023 12,733 2024 13,276 2025 14,049 2026-2030 63,956 Defined contribution pension plans— In addition to defined benefit pension plans, the Company, NSC and other Japanese and non-Japanese Nomura contributed ¥3,627 million, ¥3,614 million and ¥3,585 million to defined contribution pension plans for Japanese entities’ plans for the years ended March 31, 2018, 2019 and 2020, respectively. The contributions to overseas defined contribution pension plans were ¥9,265 million, ¥9,293 million and ¥8,497 million for the years ended March 31, 2018, 2019 and 2020, respectively. Health care benefits— The Company and certain subsidiaries provide certain health care benefits to both active and retired employees through NSHIS. The Company and certain subsidiaries also sponsor certain health care benefits to retired employees (“Special Plan”) and who participate in the Special Plan on a pay-all |
Deferred compensation awards
Deferred compensation awards | 12 Months Ended |
Mar. 31, 2020 | |
Deferred Compensation Awards [Abstract] | |
Deferred compensation plans | 14. Deferred compensation awards: Nomura issues deferred compensation awards to senior management and employees, certain of which are linked to the price of the Company’s common stock, in order to retain and motivate key staff. These stock-based compensation awards comprise Restricted Stock Unit (“RSU”) awards, Plan A and Plan B Stock Acquisition Right (“SAR”) awards, Notional Stock Unit (“NSU”) awards, and Collared Notional Stock Unit (“CSU”) awards. SAR Plan A awards are awards of stock options while RSU awards, SAR Plan B awards, NSU awards and CSU awards are analogous to awards of restricted common stock. The Company also issues other deferred compensation awards, namely Notional Indexed Unit (“NIU”) awards which are linked to a world stock index quoted by Morgan Stanley Capital International. Certain deferred compensation awards include “Full Career Retirement” (“FCR”) provisions which permit recipients of the awards to continue to vest in the awards upon voluntary termination of employment if certain criteria based on corporate title and length of service within Nomura are met. The requisite service period for these awards ends on the earlier of the contractual vesting date and the date that the recipients become eligible for or claim FCR. Unless indicated below, deferred compensation awards are generally reduced, forfeited or clawed back in the event of termination of employment, material restatements of financial statements, material conduct issues, material damage to Nomura’s business or reputation, material downturns in the performance of the Nomura group and/or a material failure of risk management. RSU awards The Company introduced RSU awards in the fiscal year ended March 31, 2018, and granted the first RSU awards in May 2018. For each RSU award, one common stock of the Company is delivered. The awards generally have a graded vesting period over three years with an extending vesting period of up to seven years for certain senior management and employees in order to meet local regulatory requirements based on the role they perform within Nomura. The grant date fair value per award is determined using the price of the Company’s common stock. The following table presents activity relating to RSU awards for the year ended March 31, 2020. Outstanding (number of Nomura shares) Weighted-average grant date fair value per share Weighted-average remaining life until expiry (years) Outstanding as of March 31, 2019 48,518,200 ¥ 530 1.3 Granted 33,786,200 365 Forfeited (3,734,800 ) 441 Delivered (15,230,000 ) 530 Outstanding as of March 31, 2020 63,339,600 ¥ 447 1.0 The weighted-average grant date fair value per award for the year ended March 31, 2019 and 2020 was ¥530 and ¥365, respectively. There were no vested RSU awards nor delivered shares during the year ended March 31, 2019. The total intrinsic value of RSU awards vested during the year ended March 31, 2020 was ¥6,613 million. The total of 9,926,385 shares was delivered during the year ended March 31, 2020 and its intrinsic value was ¥ 6,231 million. The aggregate intrinsic value of RSU awards outstanding as of March 31, 2020 was ¥28,997 million. As of March 31, 2020, total unrecognized compensation cost relating to RSU awards was ¥3,681 SAR Plan A awards The Company issues SAR Plan A awards linked to the price of the Company’s common stock pursuant to several stock option plans. These awards vest and are exercisable into the Company’s common stock approximately two years after grant date and expire approximately seven years after grant date. The exercise price is generally not less than the fair value of the Company’s common stock on grant date. These awards are subject to the above reduction and forfeiture provisions but are not subject to claw back. The grant date fair value of SAR Plan A awards is estimated using a Black-Scholes option-pricing model and using the following assumptions: • Expected volatilities based on historical volatility of the Company’s common stock; • Expected dividend yield based on the current dividend rate at the time of grant; • Expected lives of the awards determined based on historical experience; and • Expected risk-free interest rate based on Japanese Yen swap rate with a maturity equal to the expected lives of the options. The weighted-average grant date fair value of SAR Plan A awards granted during the years ended March 31, 2018 and 2019 was ¥110 and ¥79 per share, respectively. There was no SAR Plan A award granted during the year ended March 31, 2020. The weighted-average assumptions used in each of these years were as follows. Year ended March 31 2018 2019 2020 Expected volatility 35.30 % 33.30 % — % Expected dividends yield 3.07 % 3.67 % — % Expected lives (in years) 4.5 4.5 — Risk-free interest rate 0.10 % 0.10 % — % The following table presents activity relating to SAR Plan A awards for the year ended March 31, 2020. Outstanding (number of Nomura shares) Weighted-average exercise price Weighted-average remaining life until expiry (years) Outstanding as of March 31, 2019 16,539,300 ¥ 679 3.9 Granted — — Exercised (900,800 ) 298 Forfeited (89,900 ) 630 Expired (95,700 ) 298 Outstanding as of March 31, 2020 15,452,900 ¥ 704 3.1 Exercisable as of March 31, 2020 12,945,000 ¥ 729 2.6 The total intrinsic value of SAR Plan A awards exercised during the years ended March 31, 2018, 2019 and 2020 was ¥450 million, ¥241 million and ¥139 million, respectively. The aggregate intrinsic value of SAR Plan A awards outstanding and exercisable as of March 31, 2020 was both ¥nil, respectively. As of March 31, 2020, total unrecognized compensation cost relating to SAR Plan A awards was ¥62 million which is expected to be recognized over a weighted average period of 0.6 years. The total fair value of SAR Plan A awards which vested during the years ended March 31, 2018, 2019 and 2020 was ¥nil, respectively. SAR Plan B awards The Company issues SAR Plan B awards linked to the price of the Company’s common stock pursuant to several stock unit plans. These awards vest and are exercisable into the Company’s common stock, have an exercise price of ¥1 per share and graded vesting generally over three years with certain longer vesting or holding periods where required under local regulations. The grant date fair value of SAR Plan B awards is determined using the price of the Company’s common stock. The following table presents activity relating to SAR Plan B awards for the year ended March 31, 2020. No new SAR Plan B awards have been granted since April 1, 2018. Outstanding (number of Nomura shares) Weighted-average grant date fair value per share Weighted-average remaining life until expiry (years) Outstanding as of March 31, 2019 39,392,900 ¥ 508 4.1 Granted — — Exercised (16,340,900 ) 497 Forfeited (399,900 ) 531 Expired (313,200 ) 425 Outstanding as of March 31, 2020 22,338,900 ¥ 517 3.4 Exercisable as of March 31, 2020 16,186,800 ¥ 512 2.5 The weighted-average grant date fair value per share for the years ended March 31, 2018 was ¥588. No SAR Plan B award was granted for the year ended March 31, 2019 and 2020. The total intrinsic value of SAR Plan B awards exercised during the years ended March 31, 2018, 2019 and 2020 was ¥21,740 million, ¥8,896 million and ¥7,640 million, respectively. The aggregate intrinsic value of SAR Plan B awards outstanding and exercisable as of March 31, 2020 was ¥10,204 million and ¥7,394 million, respectively. As of March 31, 2020, total unrecognized compensation cost relating to SAR Plan B awards was ¥30 million which is expected to be recognized over a weighted average period of 1.7 years. The total fair value of SAR Plan B awards which vested during the years ended March 31, 2018, 2019 and 2020 was ¥17,539 million, ¥10,757 million and ¥4,309 million, respectively. Total compensation expense recognized within Non-interest expenses—Compensation and benefits Cash received from the exercise of SAR Plan A and SAR Plan B awards during the year ended March 31, 2020 was ¥285 million and the tax benefit realized from exercise of these awards was ¥785 million. Total related tax benefits recognized in the consolidated statements of income relating to RSU, and “Earnings per share” NSU and CSU awards NSU and CSU awards are cash-settled awards linked to the price of the Company’s common stock. NSU awards replicate the key features of SAR Plan B awards described above but are settled in cash rather than exercisable into the Company’s common stock. CSU awards are similar to NSU awards but exposure to movements in the price of the Company’s common stock is subject to a cap and floor. Both types of award have graded vesting periods generally over three years with certain longer vesting periods where required by local regulations. The fair value of NSU and CSU awards are determined using the price of the Company’s common stock. The following table presents activity related to NSU and CSU awards for the year ended March 31, 2020. No new CSU awards have been granted since April 1, 2018. NSUs CSUs Outstanding (number of units) Stock price Outstanding (number of units) Stock price Outstanding as of March 31, 2019 31,036,558 ¥ 389 8,760,439 ¥ 603 Granted 13,203,853 405 (1) — — Vested (22,762,553 ) 438 (2) (5,728,731 ) 601 (2) Forfeited (379,029 ) (230,052 ) Outstanding as of March 31, 2020 21,098,829 ¥ 445 (3) 2,801,656 ¥ 611 (3) (1) Weighted-average price of the Company’s common stock used to determine number of awards granted. (2) Weighted-average price of the Company’s common stock used to determine the final cash settlement amount of the awards. (3) The price of the Company’s common stock used to remeasure the fair value of the remaining outstanding unvested awards as of March 31, 2020. Total compensation expense recognized within Non-interest expenses—Compensation and benefits Total unrecognized compensation cost relating to NSU awards, based on the fair value of these awards as of March 31, 2020, was ¥613 million, which is expected to be recognized through the consolidated statements of income over a remaining weighted-average period of 0.9 years. The total fair value of NSU awards which vested during the years ended March 31, 2018, 2019 and 2020 was ¥17,103 million, ¥11,481 million and ¥9,980 million, respectively. Total unrecognized compensation cost relating to CSU awards, based on the fair value of these awards as of March 31, 2020, was ¥37 million, which is expected to be recognized through the consolidated statements of income over a remaining weighted-average period of 2.0 years. The total fair value of CSU awards which vested during the years ended March 31, 2018, 2019 and 2020 was ¥11,871 million, ¥6,282 million and ¥3,445 million, respectively. NIU awards In addition to the stock-based compensation awards described above, Nomura also grants NIU awards to senior management and employees. NIU awards are cash-settled awards linked to a world stock index quoted by Morgan Stanley Capital International, with graded vesting periods generally over three years with certain longer vesting periods where required by local regulations. The fair value of NIU awards is determined using the price of the index. The following table presents activity relating to NIU awards for the year ended March 31, 2020. No new NIU awards have been granted since April 1, 2018. Outstanding (number of units) Index price (1) Outstanding as of March 31, 2019 5,165,744 $ 6,043 Granted — — Vested (4,127,154 ) 6,233 (2) Forfeited (198,636 ) Outstanding as of March 31, 2020 839,954 $ 5,339 (3) (1) The price of each unit is determined using 1/1000 (2) Weighted-average index price used to determine the final cash settlement amount of the awards. (3) Index price used to remeasure the total fair value of the remaining outstanding unvested awards as of March 31, 2020. Total compensation expense recognized within Non-interest expenses—Compensation and benefits Total unrecognized compensation cost relating to NIU awards, based on the fair value of these awards as of March 31, 2020, was ¥10 million which is expected to be recognized through the consolidated statements of income over a remaining weighted-average period of 2.0 years. The total fair value of NIU awards which vested during the years ended March 31, 2018, 2019 and 2020 was ¥7,669 million, ¥5,091 million and ¥2,795 million, respectively. Total tax benefits recognized in the consolidated statements of income for compensation expense relating to NSU, CSU and NIU awards for the years ended March 31, 2018, 2019 and 2020 were ¥779 million, ¥220 million and ¥168 million, respectively. Subsequent events On May 27, 2020, the Company passed a resolution to grant RSU awards to certain senior management and employees. T one In June 2020 |
Restructuring initiatives
Restructuring initiatives | 12 Months Ended |
Mar. 31, 2020 | |
Restructuring Initiatives [Abstract] | |
Restructuring initiatives | 15. Restructuring initiatives: Nomura continues to experience a major structural shift such as a breakdown of the traditional investment banking business model, advances in digitization, and demographic shifts due to the shrinking population and aging society in Japan. To respond to the changing environment created by these shifts, Nomura implemented various restructuring initiatives during the year ended March 31, 2019 to swiftly reengineer its business platforms and change its business approach in order to achieve sustainable growth in any business environment. In particular, Nomura has restructured its management reporting framework to eliminate the concept of regions to minimize duplication between businesses and region, reduce the number of corporate functions, downscale unprofitable and low growth businesses and reduce its activities in EMEA. During the year ended March 31, 2020, this restructuring initiative is almost completed. As a result of these initiatives, Nomura recognized ¥10,348 million of severance costs reported within Non-interest expenses—Compensation and benefits Other liabilities 31 Nomura also recognized ¥4,390 million of branch consolidation costs reported within Non-interest expenses—Occupancy and related depreciation Other liabilities. |
Income taxes
Income taxes | 12 Months Ended |
Mar. 31, 2020 | |
Income Tax [Abstract] | |
Income taxes | 16. Income taxes: The following table presents components of Income tax expense Millions of yen Year ended March 31 2018 2019 2020 Current: Domestic ¥ 35,018 ¥ 26,725 ¥ 42,099 Foreign 8,589 8,720 10,706 Subtotal 43,607 35,445 52,805 Deferred: Domestic 64,340 28,183 (23,512 ) Foreign (4,081 ) (6,618 ) (399 ) Subtotal 60,259 21,565 (23,911 ) Total ¥ 103,866 ¥ 57,010 ¥ 28,894 The income tax benefit recognized from operating losses for the years ended March 31, 2018, 2019 and 2020 was ¥4,653 million, ¥246 million and ¥1,195 million, respectively, which is included within deferred income tax expense above. The Company and its wholly-owned domestic subsidiaries have adopted the consolidated tax filing system permitted under Japanese tax law. The consolidated tax filing system only imposes a national tax. The was as of March 31, 2018, March 31, 2019 and March 31, 2020. On March 27, 2020, the “Act to partially revise the Income Tax Act and Others ”(Act No.8 of 2020) was enacted, effective for fiscal years beginning on or after April 1, 2022. As a result of the Act, the existing Consolidated Taxation system in Japan will be replaced with the Group Tax Sharing system. The Company does not expect any significant impact on its net deferred tax liabilities on adoption of the Act. On December 22, 2017, the Tax Cuts and Jobs Act (“the Act”) was enacted in the United States which significantly changes U.S. income tax law, including reducing the U.S. federal corporate income tax rate to 21%, broadening the U.S. tax base, introducing a territorial tax system and one time repatriation tax on U.S. entities for previously deferred earnings of non-U.S. fiscal year ended March 31, 2018. As a result of finalizing calculations around the impact from changes in certain assumptions and interpretations made by Nomura, certain actions to be taken by Nomura and additional guidance released by the U.S. tax authorities and other bodies after April 1, 2018, Nomura did not make any material adjustments to this estimate during the fiscal year ended March 31, 2019. Foreign subsidiaries are subject to income taxes of the countries in which they operate. The relationship between income tax expense and pretax accounting income (loss) is affected by a number of items, including various tax credits, certain revenues not subject to income taxes, certain expenses not deductible for income tax purposes, changes in deferred tax valuation allowance and different enacted tax rates applicable to foreign subsidiaries. The following table presents a reconciliation of the effective income tax rate reflected in the consolidated statements of income to Nomura’s effective statutory tax rate for the years ended March 31, 2018, 2019 and 2020. The effective tax rate presented in the following table represents total income tax expense for the year as a percentage of Income (loss) before income taxes Income before income taxes Income tax expense Income tax expense Loss before income taxes Income tax expense Income tax expense Year ended March 31 2018 2019 2020 Nomura’s effective statutory tax rate 31.0 % 31.0 % 31.0 % Impact of: Changes in deferred tax valuation allowances (22.8 ) (58.3 ) (0.3 ) Additional taxable income 0.1 (2.9 ) 0.6 Non-deductible (1) 1.9 (110.3 ) 2.9 Non-taxable (2) (3.6 ) 16.8 (23.5 ) Dividends from foreign subsidiaries 0.0 0.0 0.1 Tax effect of undistributed earnings of foreign subsidiaries 0.0 (2.8 ) 0.2 Different tax rate applicable to income (loss) of foreign subsidiaries 0.8 (19.8 ) (0.9 ) Effect of changes in foreign tax laws 23.5 0.5 (0.9 ) Effect of changes in domestic tax laws — — — Tax benefit recognized on the devaluation of investment in subsidiaries and affiliates 1.7 5.4 (0.1 ) Other (0.9 ) (10.8 ) 2.5 Effective tax rate 31.7 % (151.2 )% 11.6 % (1) Non-deductible expenses (2) Non-taxable income during the year ended March 31, 2020 includes approximately billion of the tax effect from non-taxable dividend income from affiliated Nomura companies, including deemed dividend, (which decreased Nomura’s effective tax rate by ) The following table presents the significant components of deferred tax assets and liabilities as of March 31, 2019 and 2020, before offsetting of amounts which relate to the same tax-paying Millions of yen March 31 2019 2020 Deferred tax assets Depreciation, amortization and valuation of fixed assets ¥ 20,008 ¥ 19,932 Investments in subsidiaries and affiliates 25,243 1,209 Valuation of financial instruments 71,806 77,054 Accrued pension and severance costs 29,711 24,356 Other accrued expenses and provisions 44,803 51,566 Operating losses 369,286 308,504 Lease liabilities — 47,680 Other 9,213 9,394 Gross deferred tax assets 570,070 539,695 Less — (444,916 ) (388,411 ) Total deferred tax assets 125,154 151,284 Deferred tax liabilities Investments in subsidiaries and affiliates 133,936 89,630 Valuation of financial instruments 41,770 52,780 Undistributed earnings of foreign subsidiaries 2,039 2,423 Valuation of fixed assets 10,109 9,497 Right-of-use — 47,438 Other 6,843 2,992 Total deferred tax liabilities 194,697 204,760 Net deferred tax assets (liabilities) ¥ (69,543 ) ¥ (53,476 ) After offsetting deferred tax assets and liabilities which tax-paying Other assets—Other Other liabilities As of March 31, 2020, no deferred tax liabilities have been recognized for undistributed earnings of foreign subsidiaries totaling ¥19,171 million which are not expected to be remitted in the foreseeable future. It is not practicable to determine the amount of income taxes payable in the event all such foreign earnings are repatriated. The following table presents changes in total valuation allowances established against deferred tax assets for the years ended March 31, 2018, 2019 and 2020. Millions of yen Year ended March 31 2018 2019 2020 Balance at beginning of year ¥ 519,492 ¥ 422,280 ¥ 444,916 Net change during the year (97,212 ) (1) 22,636 (2) (56,505 ) (3) Balance at end of year ¥ 422,280 ¥ 444,916 ¥ 388,411 (1) Primarily includes a reduction of ¥80,459 million of valuation allowances of certain foreign subsidiaries mainly due to changes in tax laws in the U.S., an increase of ¥17,340 million related to Japanese subsidiaries and the Company because of an increase in valuation allowances related to operating loss carryforwards, and a reduction of ¥34,093 million of valuation allowances related to Japanese subsidiaries and the Company as a result of changes in the expected realization of deferred tax assets. In total, ¥97,212 million of allowances decreased for the year ended March 31, 2018. (2) Primarily includes an increase of ¥11,843 million of valuation allowances of certain foreign subsidiaries mainly due to an increase in valuation allowances related to operating loss carryforwards, partially offset by a decrease of valuation allowances related to accrued expenses and provisions, an increase of ¥6,265 million related to Japanese subsidiaries and the Company because of an increase in valuation allowances related to operating loss carryforwards recognized in the current year, an increase of ¥14,976 million of valuation allowances related to Japanese subsidiaries and the Company as a result of changes in the expected realization of deferred tax assets, and a reduction of ¥10,448 million of valuation allowances related to expiration of operating loss carryforwards. In total, ¥22,636 million of allowances increased for the year ended March 31, 2019. (3) Primarily includes a reduction of ¥59,330 million of valuation allowances of certain foreign subsidiaries mainly by expiration and r million As of March 31, 2020, total operating loss carryforwards were ¥1,770,629 million, which included ¥511,293 million relating to the Company and domestic subsidiaries, ¥548,544 million relating to foreign subsidiaries in the United Kingdom, ¥416,254 million relating to foreign subsidiaries in the United States, ¥225,108 million relating to foreign subsidiaries in Hong Kong, and ¥69,430 million relating to foreign subsidiaries in other tax jurisdictions. Of this total amount, ¥901,463 million can be carried forward indefinitely, ¥728,859 million expires by March 31, 2029 and ¥140,307 million expires in later fiscal years. In determining the amount of valuation allowances to be established as of March 31, 2020, Nomura considered all available positive and negative evidence around the likelihood that sufficient future taxable income will be generated to realize the deferred tax assets in the relevant tax jurisdiction of the Company, its domestic subsidiaries and foreign subsidiaries. In Japan and other tax jurisdictions where domestic and foreign subsidiaries have experienced cumulative operating losses in recent years, these losses provided the most verifiable negative evidence available and outweigh positive evidence. While Nomura has considered certain future tax planning strategies as a potential source of future taxable income, no such strategies have been relied upon as positive evidence resulting in a reduction of valuation allowances in any major tax jurisdiction in which Nomura operates as of March 31, 2018, 2019 and 2020. In addition, valuation allowances have not been reduced in any of these periods as a result of changing the weighting applied to positive or negative evidence in any of the major tax jurisdictions in which Nomura The determination of whether deferred tax assets will be realized, and therefore whether a valuation allowance is required, is inherently subjective and often requires management judgment around the future profitability of Nomura entities, an interpretation of tax rules by courts and regulatory authorities and tax examinations by taxing authorities, and the appropriate weighting of positive and negative evidence around the likelihood that sufficient future taxable income will be generated to realize deferred tax assets in the relevant tax jurisdiction. Although estimating future taxable income was increasingly subjective due to uncertainty in future profitability of Nomura as a result of the COVID-19 pandemic, it did not result in a significant impact on the determination of realization of deferred tax assets as of March 31, 2020. The total amount of unrecognized tax benefits was not significant as of March 31, 2018, 2019 and 2020. There were also no significant movements of the gross amounts in unrecognized tax benefits and the amount of interest and penalties recognized due to unrecognized tax benefits during the years ended March 31, 2018, 2019 and 2020. Nomura is under continuous examination by the Japanese National Tax Agency and other taxing authorities in the major jurisdictions in which Nomura operates. Nomura regularly assesses the likelihood of additional assessments in each tax jurisdiction and the impact on the consolidated financial statements. It is reasonably possible that there may be a significant increase in unrecognized tax benefits within 12 months of March 31, 2020. Quantification of an estimated range cannot be made at this time due to the uncertainty of the potential outcomes. However, Nomura does not expect that any change in the gross balance of unrecognized tax benefits would have a material effect on its financial condition. Nomura operates in multiple tax jurisdictions, and faces audits from various taxing authorities regarding many issues including, but not limited to, transfer pricing, the deductibility of certain expenses, foreign tax credits and other matters. The table below presents information regarding the earliest year in which Nomura remains subject to examination in the major jurisdictions in which Nomura operates as of March 31, 2020. Under Hong Kong Special Administrative Region tax law, the statute of limitation does not apply if an entity incurs taxable losses and is therefore not included in the table. Jurisdiction Year Japan 2015 (1) United Kingdom 2016 United States 2017 (1) The earliest year in which Nomura remains subject to examination for transfer pricing issues is 2014 |
Other comprehensive income (los
Other comprehensive income (loss) | 12 Months Ended |
Mar. 31, 2020 | |
Accumulated Other Comprehensive Income (loss) | |
Other comprehensive income (loss) | 17. Other comprehensive income (loss): The following tables present changes in Accumulated other comprehensive income (loss) Millions of yen For the year ended March 31, 2019 Balance at beginning of year Other comprehensive income (loss) before reclassifications Reclassifications out of accumulated other comprehensive income (loss) Net change during the year Balance at end of year Cumulative translation adjustments (1) ¥ (15,596 ) ¥ 28,248 ¥ 5,181 ¥ 33,429 ¥ 17,833 Pension liability adjustment (2) (47,837 ) (25,182 ) 1,912 (23,270 ) (71,107 ) Own credit adjustments 4,077 20,944 (797 ) 20,147 24,224 Total ¥ (59,356 ) ¥ 24,010 ¥ 6,296 ¥ 30,306 ¥ (29,050 ) (1) Change in cumulative translation adjustments, net of tax in other comprehensive income (loss) for the year ended March 31, 2019 includes reclassification adjustment of ¥6,956 million for loss due to substantially complete liquidation of an investment in a foreign entity. The adjustment is recognized in Non-interest expenses-Other (2) See Note 13 “ Employee benefit plans Millions of yen For the year ended March 31, 2020 Balance at beginning of year Other comprehensive income (loss) before reclassifications Reclassifications out of accumulated other comprehensive income (loss) Net change during the year Balance at end of year Cumulative translation adjustments ¥ 17,833 ¥ (44,730 ) ¥ 623 ¥ (44,107 ) ¥ (26,274 ) Pension liability adjustment (1) (71,107 ) 4,528 4,008 8,536 (62,571 ) Own credit adjustments 24,224 39,517 (1,001 ) 38,516 62,740 Total ¥ (29,050 ) ¥ (685 ) ¥ 3,630 ¥ 2,945 ¥ (26,105 ) (1) See Note 13 “ Employee benefit plans The following tables present significant reclassifications out of Accumulated other comprehensive income (loss) Millions of yen For the year ended March 31 2019 2020 Affected line items in consolidated statements of income Reclassifications out of accumulated other comprehensive income (loss) Reclassifications out of accumulated other comprehensive income (loss) Cumulative translation adjustments: ¥ (5,181 ) ¥ (886 ) Revenue — Non-interest — — 263 Income tax expense (5,181 ) (623 ) Net income (loss) — — Net income attributable to noncontrolling interests ¥ (5,181 ) ¥ (623 ) Net income (loss) attributable to NHI shareholders Millions of yen For the year ended March 31 2019 2020 Affected line items in consolidated Reclassifications out of accumulated other comprehensive income (loss) Reclassifications out of accumulated other comprehensive income (loss) Pension liability adjustment: ¥ (2,771 ) ¥ (5,792 ) Non-interest — / Revenue—Other 859 1,784 Income tax expense (1,912 ) (4,008 ) Net income (loss) — — Net income attributable to noncontrolling interests ¥ (1,912 ) ¥ (4,008 ) Net income (loss) Millions of yen For the year ended March 31 2019 2020 Affected line items in consolidated Reclassifications out of accumulated other comprehensive income (loss) Reclassifications out of accumulated other comprehensive income (loss) Own credit adjustments: ¥ 804 ¥ 1,132 Revenue — (7 ) (131 ) Income tax expense 797 1,001 Net income (loss) — — Net income attributable to noncontrolling interests ¥ 797 ¥ 1,001 Net income (loss) attributable to NHI shareholders |
Shareholders' equity
Shareholders' equity | 12 Months Ended |
Mar. 31, 2020 | |
Stockholders' Equity [Abstract] | |
Shareholders' equity | 18. Shareholders’ equity: The following table presents changes in shares of the Company’s common stock outstanding for the years ended March 31, 2018, 2019 and 2020. Number of Shares Year ended March 31 2018 2019 2020 Common stock outstanding at beginning of year 3,528,429,451 3,392,937,486 3,310,800,799 Decrease of common stock by cancellation of treasury stock (179,000,000 ) (150,000,000 ) — Common stock held in treasury: Repurchases of common stock (170,027,391 ) (100,020,867 ) (299,381,781 ) Sales of common stock 201 180 390 Common stock issued to employees 34,115,500 17,894,000 27,168,085 Cancellation of treasury stock 179,000,000 150,000,000 — Other net change in treasury stock 419,725 (10,000 ) — Common stock outstanding at end of year 3,392,937,486 3,310,800,799 3,038,587,493 The amount available for dividends and acquisition of treasury stock is subject to restrictions imposed by the Companies Act. Additional paid-in Dividends on the Company’s common stock per share were ¥20.0 for the year ended March 31, 2018, ¥6.0 for the year ended March 31, 2019 and ¥20.0 for the year ended March 31, 2020. During the year ended March 31, 2018, due to the cancellation of treasury stock on December 18, 2017, total number of issued shares and treasury stock decreased by 179,000,000 shares, respectively. During the year ended March 31, 2019, due to the cancellation of treasury stock on December 17, 2018, total number of issued shares and treasury stock decreased by 150,000,000 shares, respectively. On April 27, 2017, the board of directors approved a repurchase program of Nomura Holdings common stock in accordance with Article 459-1 On October 30, 2017, the board of directors approved a repurchase program of Nomura Holdings common stock in accordance with Article 459-1 46,729 On April 26, 2018, the board of directors approved a repurchase program of Nomura Holdings common stock in accordance with Article 459-1 On June 18, 2019, the board of directors approved a repurchase program of Nomura Holdings common stock in accordance with Article 459-1 In addition to the above, the change in common stock held in treasury includes the change in common stock issued to employees under stock-based compensation plans, common stock held by affiliated companies, common stock sold to enable shareholders to hold round lots of the 100 share minimum tradable quantity (adding-to-holdings |
Regulatory requirements
Regulatory requirements | 12 Months Ended |
Mar. 31, 2020 | |
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract] | |
Regulatory requirements | 19. Regulatory requirements: In April 2011, the Company has been assigned as Final Designated Parent Company who must calculate a consolidated capital adequacy ratio and since then, our consolidated capital adequacy ratio has been calculated based on Capital Adequacy Notice on Final Designated Parent Company. The Capital Adequacy Notice on Final Designated Parent Company has been revised in line with Basel 2.5 and Basel III and Nomura has calculated a Basel III-based In accordance with Article 2 of the Capital Adequacy Notice on Final Designated Parent Company, Nomura’s consolidated capital adequacy ratio is calculated based on the amounts of common equity Tier 1 capital, Tier 1 capital, total capital, credit risk-weighted assets, market risk and operational risk. As of March 31, 2019 and March 31, 2020, the Company was in compliance with common equity Tier1 capital ratio, Tier 1 capital ratio and consolidated capital adequacy ratio requirements set out in the Capital Adequacy Notice on Final Designated Parent Company, etc. The required level (including applicable minimum consolidated capital buffer) as of March 31, 2020 was 7.51% for the common equity Tier 1 capital ratio, 9.01% for the Tier 1 capital ratio and 11.01% for the consolidated capital adequacy ratio. Under the Financial Instruments and Exchange Act (“FIEA”), NSC and NFPS are subject to the capital adequacy rules of the FSA. These rules requires the maintenance of a capital adequacy ratio, which is defined as the ratio of adjusted capital to a quantified total of business risk, of not less than 120%. Adjusted capital is defined as net worth (which includes shareholders’ equity, net unrealized gains and losses on securities held, reserves and subordinated debt) less illiquid assets. Business risks are divided into three categories: (1) market risks, (2) counterparty risks, and (3) basic risks. Under these rules, there are no restrictions on the operations of the companies provided that the resulting net capital adequacy ratio exceeds 120%. As of March 31, 2019 and 2020, the capital adequacy ratio of NSC exceeded 120%. Also, as of March 31, 2019 and 2020, the capital adequacy ratio of NFPS also exceeded 120 %. In connection with providing brokerage, clearing, asset management and wealth management services to clients, Nomura maintains segregated accounts to hold financial assets such as cash and securities on behalf of its clients. These accounts are typically governed by stringent statutory or regulatory rules in the relevant jurisdiction where the accounts are maintained in order to protect the clients from loss. As of March 31, 2019 and 2020, the total amount of segregated client cash recognized as an asset in Deposits with stock exchanges and other segregated cash Trading assets Collateralized agreements In the U.S., Nomura Securities International, Inc. (“NSI”) is registered as a broker-dealer under the Securities Exchange Act of 1934 and is a futures commission merchant with the Commodity Futures Trading Commission (“CFTC”). NSI is also regulated by self-regulatory organizations, such as the Financial Industry Regulatory Authority (“FINRA”) and the Chicago Mercantile Exchange Group. NSI is subject to the SEC’s Uniform Net Capital Rule (“Rule 15c3-1”) 15c3-1 15c3-1 net capital requirement: $45,000 minimum net capital required as a CFTC introducing broker; the amount of adjusted net capital required by a futures association of which it is a member; and the amount of net 15c3-1(a). In Europe, Nomura Europe Holdings plc (“NEHS”) is subject to consolidated regulatory supervision by the Prudential Regulation Authority (“U.K. PRA”). The regulatory consolidation is produced in accordance with the requirements established under the Capital Requirements Directive and the Capital Requirements Regulation which came into effect on January 1, 2014. Nomura International plc (“NIP”), the most significant of NEHS’ subsidiaries, acts as a securities brokerage and dealing business. NIP is regulated by the U.K. PRA and has minimum capital adequacy requirements imposed on it on a standalone basis. In addition, Nomura Bank International plc (“NBI”), another subsidiary of NEHS, is also regulated by the U.K. PRA on a standalone basis and Nomura Financial Products Europe GmbH (“NFPE”), a Nomura subsidiary domiciled in Germany, is regulated by the German regulator (“BaFin”). As of March 31, 2019 and 2020, NEHS, NIP, NBI and NFPE were in compliance with relevant regulatory capital related requirements. In Asia, Nomura International (Hong Kong) Limited (“NIHK”) and Nomura Singapore Ltd (“NSL”) are regulated by their local respective regulatory authorities. NIHK is licensed by the Securities and Futures Commission in Hong Kong to carry out regulated activities including dealing and clearing in securities and futures contracts, advising on securities, futures contracts and corporate finance and wealth management. Activities of NIHK, including its branch in Taiwan, are subject to the Securities and Futures (Financial Resources) Rules which require it, at all times, to maintain liquid capital at a level not less than its required liquid capital. Liquid capital is the amount by which liquid assets exceed ranking liabilities. Required liquid capital is calculated in accordance with provisions laid down in the Securities and Futures (Financial Resources) Rules. NSL is a merchant bank with an Asian Currency Unit (“ACU”) license governed by the Monetary Authority of Singapore (“MAS”). NSL carries out its ACU regulated activities including, among others, securities brokerage and dealing business. NSL is regulated and has minimum capital adequacy requirements imposed on it on a standalone basis by the MAS in Singapore. NIHK and NSL have been compliant with relevant regulatory capital related requirements. |
Affiliated companies and other
Affiliated companies and other equity-method investees | 12 Months Ended |
Mar. 31, 2020 | |
Affiliated Companies and Other Equity-method Investees [Abstract] | |
Affiliated companies and other equity-method investees | 20. Affiliated companies and other equity-method investees: Nomura’s significant affiliated companies and other equity-method JAFCO JAFCO Co. Ltd. (“JAFCO”), which is a listed company in Japan, manages various venture capital funds and provides private equity-related investment services to portfolio companies. Nomura accounted for JAFCO using the equity method because Nomura had the ability to exercise significant influence over operating and financial decisions of JAFCO. On July 28, 2017, Nomura disposed of its entire shareholding of 8,488,200 shares of JAFCO as part of a share buy-back NRI NRI develops and manages computer systems and provides research services and management consulting services. One of the major clients of NRI is Nomura. Nomura has tendered to the self-tender offer made by NRI. Upon the Revenue—Other As of March 31, 2020, Nomura’s ownership of NRI was 28.8% and the remaining balance of equity method goodwill included in the carrying value of the investment was ¥61,310 million. NREH NREH is the holding company of the Nomura Real Estate Group which is primarily involved in the residential property development, leasing, investment management as well as other real estate-related activities. As of March 31, 2020, ’s ownership of NREH was % and the remaining balance of equity method goodwill included in the carrying value of the investment was ¥ million. As a result of significant declines in global equity markets during the fourth quarter due to the COVID-19 pandemic, we assessed and concluded no other-than-temporary impairment losses were required to be recognized. Summary financial information— The following tables present summarized financial information for significant affiliated companies of Nomura (including those elected for the fair value option) as of March 31, 2019 and 2020, and for the years ended March 31, 2018, 2019 and 2020. Millions of yen March 31 2019 2020 Total assets ¥ 2,535,825 ¥ 2,559,985 Total liabilities 1,538,231 1,669,132 Millions of yen Year ended March 31 2018 (1) 2019 2020 Net revenues ¥ 949,055 ¥ 963,824 ¥ 1,017,860 Non-interest 768,419 794,264 791,403 Net income attributable to the companies 122,623 122,440 155,567 (1) For JAFCO, financial information while it was an affiliated company of Nomura is included. The following tables present a summary of balances and transactions with affiliated companies and other equity-method investees as of March 31, 2019 and 2020, and for the years ended March 31, 2018, 2019 and 2020. Millions of yen March 31 2019 2020 Investments in affiliated companies ¥ 436,220 ¥ 367,641 Other receivables from affiliated companies (1) 1,425 25,074 Other payables to affiliated companies (1) 2,998 27,648 (1) As a result of adopting ASU 2016-02 as of April 1, 2019, ROU assets Millions of yen Year ended March 31 2018 2019 2020 Revenues ¥ 1,677 ¥ 1,986 ¥ 3,833 Non-interest 46,632 44,073 46,335 Purchase of software, securities and tangible assets 26,830 13,515 17,716 The following table presents the aggregate carrying amount and fair value of investments in affiliated companies and other equity-method investees for which a quoted market price is available as of March 31, 2019 and 2020. Millions of yen March 31 2019 2020 Carrying amount ¥ 423,885 ¥ 357,751 Fair value 600,132 511,667 The following table presents equity in earnings of equity-method investees, including those above and dividends from equity-method investees for the years ended March 31, 2018, 2019 and 2020. Millions of yen Year ended March 31 2018 2019 2020 Equity in earnings of equity-method investees (1) ¥ 34,516 ¥ 32,014 ¥ 32,109 Dividends from equity-method investees 13,290 12,971 11,767 (1) Equity in earnings of equity-method investees is reported within Revenue-Other |
Commitments, contingencies and
Commitments, contingencies and guarantees | 12 Months Ended |
Mar. 31, 2020 | |
Commitments, Contingencies and Guarantees [Abstract] | |
Commitments, contingencies and guarantees | 21. Commitments, contingencies and guarantees: Commitments— Credit and investment commitments In connection with its banking and financing activities, Nomura provides commitments to extend credit which generally have fixed expiration dates. In connection with its investment banking activities, Nomura enters into agreements with clients under which Nomura commits to underwrite securities that may be issued by the clients. As a member of certain central clearing counterparties, Nomura is committed to provide liquidity facilities through entering into reverse repo transactions backed by government and government agency debt securities with those counterparties in a situation where a default of another clearing member occurs. The outstanding commitments under these agreements are included below in commitments to extend credit. Nomura has commitments to invest in various partnerships and other entities and also has commitments to provide financing for investments related to these partnerships. The outstanding commitments under these agreements are included in commitments to invest. The following table presents a summary of the key types of outstanding commitments provided by Nomura as of March 31, 2019 and 2020. Millions of yen March 31, 2019 March 31, 2020 Commitments to extend credit Liquidity facilities to central clearing counterparties ¥ 1,593,439 ¥ 1,288,774 Other commitments to extend credit 1,100,929 958,659 Total ¥ 2,694,368 ¥ 2,247,433 Commitments to invest ¥ 14,413 ¥ 15,278 As of March 31, 2020, these commitments had the following maturities: Millions of yen Total contractual amount Years to maturity Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Commitments to extend credit Liquidity facilities to central clearing counterparties ¥ 1,288,774 ¥ 1,288,774 ¥ — ¥ — ¥ — Other commitments to extend credit 958,659 110,312 139,295 167,322 541,730 Total ¥ 2,247,433 ¥ 1,399,086 ¥ 139,295 ¥ 167,322 ¥ 541,730 Commitments to invest ¥ 15,278 ¥ 491 ¥ 4 ¥ 5,628 ¥ 9,155 The contractual amounts of these commitments to extend credit represent the amounts at risk but only if the contracts are fully drawn upon, should the counterparties default, and assuming the value of any existing collateral becomes worthless. The total contractual amount of these commitments may not represent future cash requirements since the commitments may expire without being drawn upon. The credit risk associated with these commitments varies depending on the clients’ creditworthiness and the value of collateral held. Nomura evaluates each client’s creditworthiness on a case-by-case Other commitments Purchase obligations for goods or services ¥ million as of March 31, 2020. As of March 31, 2020, these purchase obligations had the following maturities: Millions of yen Total Years of payment Less than 1 to 2 2 to 3 3 to 4 4 to 5 More than Purchase obligations ¥ 126,949 ¥ 20,523 ¥ 24,206 ¥ 11,514 ¥ 8,280 ¥ 112 ¥62,314 Above table includes the commitment to purchase parts of the redeveloped real estate in Tokyo Nihonbashi district from the redevelopment partnership. See Note 23 “ Significant subsequent events Nomura has commitments under resale and repurchase agreements including amounts in connection with collateralized agreements and collateralized financing. These commitments amounted to ¥1,071 billion for resale agreements and ¥719 billion for repurchase agreements as of March 31, 2019 and ¥1,969 billion for resale agreements and ¥677 billion for repurchase agreements as of March 31, 2020. In Japan, there is a market in which participants lend and borrow debt and equity securities without collateral to and from financial institutions. Under these arrangements, Nomura had obligations to return debt and equity securities borrowed without collateral of ¥441 billion and ¥928 billion as of March 31, 2019 and 2020, respectively. As a member of various securities clearing houses and exchanges, Nomura may be required to assume a certain share of the financial obligations of another member who may default on its obligations to the clearing house or the exchange. These guarantees are generally required under the membership agreements. To mitigate these risks, exchanges and clearing houses often require members to post collateral. The potential for Nomura to make payments under such guarantees is deemed remote. Contingencies Investigations, lawsuits and other legal proceedings In the normal course of business as a global financial services entity, Nomura is involved in investigations, lawsuits and other legal proceedings and, as a result, may suffer loss from any fines, penalties or damages awarded against Nomura, any settlements Nomura chooses to make to resolve a matter, and legal and other advisory costs incurred to support and formulate a defense. The ability to predict the outcome of these actions and proceedings is inherently difficult, particularly where claimants are seeking substantial or indeterminate damages, where investigations and legal proceedings are at an early stage, where the matters present novel legal theories or involve a large number of parties, or which take place in foreign jurisdictions with complex or unclear laws. The Company regularly evaluates each legal proceeding case-by-case Contingencies Company recognizes a liability for this risk of loss arising on each individual matter when a loss is probable and the amount of such loss or range of loss can be reasonably estimated. The amount recognized as a liability is reviewed at least quarterly and is revised when further information becomes available. If these criteria are not met for an individual matter, such as if an estimated loss is only reasonably possible rather than probable, no liability is recognized. However, where a material loss is reasonably possible, the Company will disclose details of the legal proceeding or claim below. Under ASC 450 an event is defined as reasonably possible if the chance of the loss to the Company is more than remote but less than probable. The most significant actions and proceedings against Nomura are summarized below. The Company believes that, based on current information available as of the date of these consolidated financial statements, the ultimate resolution of these actions and proceedings will not be material to the Company’s financial condition. However, an adverse outcome in certain of these matters could have a material adverse effect on the consolidated statements of income or cash flows in a particular quarter or annual period. For certain of the significant actions and proceedings described below, the Company is currently able to estimate the amount of reasonably possible loss, or range of reasonably possible losses, in excess of amounts recognized as a liability (if any) against such cases. These estimates are based on current information available as of the date of these consolidated financial statements and include, but are not limited to, the specific amount of damages or claims against Nomura in each case. As of June 30, 2020, for those cases where an estimate of the range of reasonably possible losses can be made, the Company estimates that the total aggregate reasonably possible maximum loss in excess of amounts recognized as a liability (if any) against these cases is approximately ¥53 billion. While the COVID-19 pandemic has delayed the potential resolution of certain actions and proceedings, it has not had a direct significant impact on the amount of liabilities recognized in respect of these matters as of June 30, 2020 nor the total aggregate reasonably possible maximum loss disclosed above. For certain other significant actions and proceedings, the Company is unable to provide an estimate of the reasonably possible loss or range of reasonably possible losses because, among other reasons, (i) the proceedings are at such an early stage there is not enough information available to assess whether the stated grounds for the claim are viable; (ii) damages have not been identified by the claimant; (iii) damages are unsupported and/or exaggerated; (iv) there is uncertainty as to the outcome of pending appeals or motions; (v) there are significant legal issues to be resolved that may be dispositive, such as the applicability of statutes of limitations; (vi) there are novel or unsettled legal theories underlying the claims and/or (vii) a judgment has been made against Nomura but detailed reasons for the basis for the judgment and how the amount of the judgment has been determined have not yet been received. Nomura will continue to cooperate with regulatory investigations and to vigorously defend its position in the ongoing actions and proceedings set out below, as appropriate. In January 2008, Nomura International plc (“NIP”) was served with a tax notice issued by the tax authorities in Pescara, Italy alleging breaches by NIP of the U.K.-Italy Double Taxation Treaty of 1998 (“Tax Notice”). The alleged breaches relate to payments to NIP of tax credits on dividends on Italian shares. The Tax Notice not only denies certain payments to which NIP claims to be entitled but also seeks reimbursement of approximately EUR 33.8 million, plus interest, already refunded. NIP continues vigorously to challenge the Pescara Tax Court’s decisions in favor of the local tax authorities. Similar claims have been made by the tax authorities against IBJ Nomura Financial Products (UK) PLC (“IBJN”) a group company which has been in members’ voluntary liquidation since 2000. An Italian Supreme Court judgment in June 2019 confirmed that tax credit refunds of approximately EUR 38 million, plus interest, were payable by IBJN to the Italian tax authorities. NIP continues to assess the position. In October 2010 and June 2012, two actions were brought against NIP, seeking recovery of payments allegedly made to NIP by Fairfield Sentry Ltd. and Fairfield Sigma Ltd. (collectively, “Fairfield Funds”), which are now in liquidation and were feeder funds to Bernard L. Madoff Investment Securities LLC (in liquidation pursuant to the Securities Investor Protection Act in the U.S. since December 2008) (“BLMIS”). The first suit was brought by the liquidators of the Fairfield Funds. It was filed on October 5, 2010 in the Supreme Court of the State of New York, but was subsequently removed to the United States Bankruptcy Court for the Southern District of New York. The second suit was brought by the Trustee for the liquidation of BLMIS (“Madoff Trustee”). NIP was added as a defendant in June 2012 when the Madoff Trustee filed an amended complaint in the United States Bankruptcy Court for the Southern District of New York. Both actions seek to recover approximately $ million. In April 2011, the Federal Home Loan Bank of Boston (“FHLB-Boston”) commenced proceedings in the Superior Court of Massachusetts against numerous issuers, sponsors and underwriters of residential mortgage-backed securities (“RMBS”), and their controlling persons, including Nomura Asset Acceptance Corporation (“NAAC”), Nomura Credit & Capital, Inc., Nomura Securities International, Inc. (“NSI”) and Nomura Holding America Inc. The action alleged that FHLB-Boston purchased RMBS certificates in four offerings issued by NAAC in the original principal amount of approximately $406 million, for which the offering materials contained untrue statements or omitted material facts concerning the underwriting standards used by the original lenders and the characteristics of the loans underlying the securities. On December 16, 2019, the parties settled the matter for $34 million and the action has been dismissed. In November 2011, NIP was served with a claim filed by the Madoff Trustee in the United States Bankruptcy Court for the Southern District of New York. This is a clawback action similar to claims filed by the Madoff Trustee against numerous other institutions. The Madoff Trustee alleges that NIP received redemptions from the BLMIS feeder fund, Harley International (Cayman) Limited in the six years prior to December 11, 2008 (the date proceedings were commenced against BLMIS) and that these are avoidable and recoverable under the U.S. Bankruptcy Code and New York law. The amount that the Madoff Trustee is currently seeking to recover from NIP is approximately $21 million. In March 2013, Banca Monte dei Paschi di Siena SpA (“MPS”) issued a claim in the Italian Courts against (1) two former directors of MPS and (2) NIP. MPS alleged that the former directors improperly caused MPS to enter into certain structured financial transactions with NIP in 2009 (“Transactions”) and that NIP acted fraudulently and was jointly liable for the unlawful conduct of MPS’s former directors. MPS claimed damages of not less than EUR 1.1 billion. In March 2013, NIP commenced a claim against MPS in the English Courts. The claim was for declaratory relief confirming that the Transactions remained valid and contractually binding. MPS filed and served its defence and counterclaim to these proceedings in March 2014. MPS alleged in its counterclaim that NIP was liable to make restitution of a net amount of approximately EUR 1.5 billion, and sought declarations regarding the illegality and invalidity of the Transactions. On September 23, 2015, NIP entered into a settlement agreement with MPS to terminate the Transactions. NIP believes that the Transactions were conducted legally and appropriately, and does not accept the allegations made against it or admit any wrongdoing. Taking into account the views of relevant European financial authorities and the advice provided by external experts, NIP considered it to be in its best interests to reach a settlement in relation to this matter. As part of the agreement, the Transactions were unwound at a discount of EUR 440 million in favour of MPS and the civil proceedings between MPS and NIP in Italy and England, respectively, will no longer be pursued. Pursuant to the settlement agreement MPS and NIP applied to the Italian Courts to discontinue the proceedings brought by MPS against NIP. These proceedings have since been discontinued. In April 2013, an investigation was commenced by the Public Prosecutor’s office in Siena, Italy, into various allegations against MPS and certain of its former directors, including in relation to the Transactions. The investigation was subsequently transferred to the Public Prosecutor of Milan. On April 3, 2015, the Public Prosecutor’s office in Milan issued a notice concluding its preliminary investigation. The Public Prosecutor was seeking to indict MPS, three individuals from MPS’s former management, NIP and two former NIP employees for, among others, the offences of false accounting and market manipulation in relation to MPS’s previous accounts. The preliminary hearing at which the Milan criminal court considered whether or not to grant the indictment concluded on October 1, 2016, the Judge ordering the trial of all individuals and banks involved except for MPS (which entered into a plea bargaining agreement with the Public Prosecutor). The trial commenced in December 2016. As part of these proceedings, a number of civil claimants have been permitted to bring damages claims against a number of entities and individuals, including NIP. On November 8, 2019, the court delivered its oral verdict, finding two former employees of NIP guilty of false accounting, market manipulation and obstructing the supervisory activities of CONSOB and that NIP had breached Italian corporate liability legislation. In so doing it imposed a fine of EUR 3.45 million on NIP as well as ordering confiscation of EUR 88 million. On May 12, 2020, the court issued the detailed reasoning for the verdict (including the rationale for the penalties imposed). As of the date of these consolidated financial statements, NIP continues to analyze the contents of the written reasoning to determine all of its options, including any appeal. The penalties will not be enforceable until all appeals have been concluded. In addition, NIP is involved in a number of separate civil or administrative matters relating to the Transactions including those described further below. In July 2013, a claim was issued against former directors of MPS, and NIP, by the shareholder group Fondazione Monte dei Paschi di Siena (“FMPS”). The grounds of the FMPS claim are similar to those on which the MPS claim was founded. The level of damages sought by FMPS is not less than EUR 315.2 million. In January 2018, a claim before the Italian Courts brought by two claimants, Alken Fund Sicav (on behalf of two Luxembourg investment funds Alken Fund European Opportunities and Alken Fund Absolute Return Europe) and Alken Luxembourg S.A (the funds’ management company) was served on NIP. The claim is made against NIP, MPS, four MPS former directors and a member of MPS’s internal audit board, and seeks monetary damages of approximately EUR 434 million on the basis of allegations similar to those made in the MPS and FMPS claims, as well as non-monetary damages in an amount left to be quantified by the Judge. In May 2019, a claim before the Italian Courts brought by York Global Finance Offshore BDH (Luxembourg) Sàrl and a number of seemingly related funds was served on NIP. The claim is made against NIP, MPS, two MPS former directors and a member of MPS’s internal audit board, and seeks monetary damages of approximately EUR 186.7 million on grounds similar to those in the MPS and FMPS claims, as well as non-monetary damages in an amount left to be quantified by the Judge. Additionally, NIP was served by the Commissione Nazionale per le Società e la Borsa (“CONSOB”, the Italian financial regulatory authority) with a notice commencing administrative sanction proceedings for market manipulation in connection with the Transactions. In relation to the Transactions, the notice named MPS, three individuals from MPS’s former management and two former NIP employees as defendants, whereas NIP was named only in its capacity as vicariously liable to pay any fines imposed on the former NIP employees. On May 22, 2018 CONSOB issued its decision in which it levied EUR 100,000 fines in relation to each of the two former NIP employees. In addition, CONSOB decided that the two employees do not meet the necessary Italian law integrity requirements to perform certain senior corporate functions, for a period of three months and six months respectively. NIP is vicariously liable to pay the fines imposed on its former employees. NIP has paid the fines and appealed the decision to the Milan Court of Appeal. In June 2016 and August 2016, Nomura International (Hong Kong) Limited (“NIHK”) and Nomura Special Investments Singapore Pte Limited (“NSIS”) were respectively served with a complaint filed in the Taipei District Court against NIHK, NSIS and certain individuals by Cathay United Bank, Co., Ltd., Taiwan Cooperative Bank Ltd., Chang Hwa Commercial Bank Ltd., Taiwan Business Bank Ltd., KGI Bank and Hwatai Bank Ltd. (collectively, “Syndicate Banks”). The Syndicate Banks’ complaint relates to a $60 million syndicated term loan to a subsidiary of Ultrasonic AG that was arranged by NIHK, and made by the Syndicate Banks together with NSIS. The Syndicate Banks’ allegations in the complaint include allegations that NIHK failed to comply with its fiduciary duties to the lenders as the arranger of the loan and the Syndicate Banks seek to recover approximately $48 million in damages and interest. In March 2017, certain subsidiaries of American International Group, Inc. (“AIG”) commenced proceedings in the District Court of Harris County, Texas against certain entities and individuals, including NSI, in connection with a 2012 offering of $750 million of certain project finance notes, of which $92 million allegedly were purchased by AIG. AIG alleges violations of the Texas Securities Act based on material misrepresentations and omissions in connection with the marketing, offering, issuance and sale of the notes and seeks rescission of the purchases or compensatory damages. Various authorities continue to conduct investigations concerning the activities of NIP, other entities in the Nomura Group and other third parties in respect of government, supranational, sub-sovereign sub-sovereign In September 2017 and November 2017, NIHK and NSIS were respectively served with a complaint filed in the Taipei District Court against NIHK, NSIS, China Firstextile (Holdings) Limited (“FT”) and certain individuals by First Commercial Bank, Ltd., Land Bank of Taiwan Co., Ltd., Chang Hwa Commercial Bank Ltd., Taishin International Bank, E.Sun Commercial Bank, Ltd., CTBC Bank Co., Ltd., Hwatai Bank, Ltd. and Bank of Taiwan (collectively, “FT Syndicate Banks”). The FT Syndicate Banks’ complaint relates to a $100 million syndicated term loan facility to borrower FT that was arranged by NIHK, and made by the FT Syndicate Banks together with NSIS. The FT Syndicate Banks’ allegations in the complaint include tort claims under Taiwan law against the defendants. The FT Syndicate Banks seek to recover approximately $68 million in damages and interest. In July 2018, a former Italian counterparty filed a claim against NIP in the Civil Court of Rome relating to a derivative transaction entered into by the parties in 2006, and terminated in 2009. The claim alleges that payments by the counterparty to NIP of approximately EUR 165 million were made in breach of Italian insolvency law, and seeks reimbursement of those payments. The United States Securities and Exchange Commission (“SEC”) and the United States Department of Justice investigated past activities of several former employees of NSI in respect of commercial and residential mortgage-backed securities transactions. NSI entered into settlements with the SEC on July 15, 2019, concerning its supervision of certain former employees. Pursuant to the settlements, NSI paid penalties of $1.5 million to the SEC and deposited $25 million in a segregated account which will be used to reimburse certain customers in connection with the related cases. In August 2017, the Cologne public prosecutor in Germany notified NIP that it is investigating possible tax fraud by individuals who worked for the Nomura Group in relation to the historic planning and execution of trading strategies around dividend record dates in certain German equities (known as “cum/ex” trading) and in relation to filings of tax reclaims in 2007 to 2012. During the fiscal year ended March 31, 2020, Nomura Group became aware that certain of those individuals would be the subject of investigative proceedings in Germany. NIP and another entity in the Nomura Group are cooperating with the investigation, including by disclosing to the public prosecutor certain documents and trading data. If the investigation involving Nomura Group entities and former individuals proceeds to trial, the individuals could face criminal sanctions and Nomura Group entities could face administrative sanctions such as administrative fines or profit confiscation orders. It is not yet possible to reasonably estimate the potential losses which may arise from any administrative sanction imposed on a Nomura Group entity. Other mortgage-related contingencies in the U.S. Certain of the Company’s subsidiaries in the U.S. securitized residential mortgage loans in the form of RMBS. These subsidiaries did not generally originate mortgage loans, but purchased mortgage loans from third-party loan originators (“originators”). In connection with such purchases, these subsidiaries received loan level representations from the originators. In connection with the securitizations, the relevant subsidiaries provided loan level representations and warranties of the type generally described below, which mirror the representations the subsidiaries received from the originators. The loan level representations made in connection with the securitization of mortgage loans were generally detailed representations applicable to each loan and addressed characteristics of the borrowers and properties. The representations included, but were not limited to, information concerning the borrower’s credit status, the loan-to-value The relevant subsidiaries have received claims demanding the repurchase of certain loans from trustees of various securitization trusts, made at the instance of one or more investors, or from certificate insurers. The total original principal amount of loans for which repurchase claims were received by the relevant subsidiaries within six years of each securitization is $3,203 million. The relevant subsidiaries summarily rejected any demand for repurchase received after the expiration of the statute of limitations applicable to breach of representation claims. For those claims received within six years, the relevant subsidiaries reviewed each claim received, and rejected those claims believed to be without merit or agreed to repurchase certain loans for those claims that the relevant subsidiaries determined to have merit. In several instances, following the rejection of repurchase demands, investors instituted actions through the trustee alleging breach of contract. The breach of contract claims that were brought within the six-year Administrative action by Financial Services Agency of Japan On May 28, 2019, Nomura Securities Co., Ltd. (“NSC”) received an administrative action (a business improvement order) from Financial Services Agency of Japan (“FSA”) in accordance with Article 51 of the Financial Instruments and Exchange Act of Japan (“FIEA”) due to NSC’s improper communication of information. On the same day, for the same reason, the Company also received an administrative action (a business improvement order) from FSA in accordance with Article 57-19 Guarantees— In the normal course of business, Nomura enters into various guarantee arrangements with counterparties in the form of standby letters of credit and other guarantees, which generally have a fixed expiration date. In addition, Nomura enters into certain derivative contracts that meet the accounting definition of a guarantee, namely derivative contracts that contingently require a guarantor to make payment to a guaranteed party based on changes in an underlying that relate to an asset, liability or equity security held by a guaranteed party. Since Nomura does not track whether its clients enter into these derivative contracts for speculative or hedging purposes, Nomura has disclosed below information about derivative contracts that could meet the accounting definition of guarantees. For information about the maximum potential amount of future payments that Nomura could be required to make under certain derivatives, the notional amount of contracts has been disclosed. However, the maximum potential payout for certain derivative contracts, such as written interest rate caps and written currency options, cannot be estimated, as increases in interest or foreign exchange rates in the future could be theoretically unlimited. Nomura records all derivative contracts at fair value on its consolidated balance sheets. Nomura believes the notional amounts generally overstate its risk exposure. Since the derivative contracts are accounted for at fair value, carrying value is considered the best indication of payment and performance risk for individual contracts. The following table presents information on Nomura’s derivative contracts that could meet the accounting definition of a guarantee and standby letters of credit and other guarantees. Millions of yen March 31 2019 2020 Carrying value Maximum potential payout / Notional total Carrying value Maximum potential payout / Notional total Derivative contracts (1)(2) ¥ 4,315,743 ¥ 281,605,308 ¥ 7,197,647 ¥ 279,734,884 Standby letters of credit and other guarantees (3) 80 5,764 — 2,351 (1) Credit derivatives are disclosed in Note 3 “ Derivative instruments and hedging activities (2) Derivative contracts primarily consist of equity, interest rate and foreign exchange contracts. (3) The amounts of collaterals held in connection with standby letters of credit and other guarantees as of March 31, 2019 and March 31, 2020 was ¥2,481 million and ¥nil, respectively. The following table presents maturity information on Nomura’s derivative contracts that could meet the accounting definition of a guarantee and standby letters of credit and other guarantees as of March 31, 2020. Millions of yen Carrying value Maximum potential payout/Notional Total Years to Maturity Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Derivative contracts ¥ 7,197,647 ¥ 279,734,884 ¥ 71,355,150 ¥ 77,870,884 ¥ 35,538,204 ¥ 94,970,646 Standby letters of credit and other guarantees — 2,351 10 1,184 1,156 1 |
Segment and geographic informat
Segment and geographic information | 12 Months Ended |
Mar. 31, 2020 | |
Segment and Geographic Information [Abstract] | |
Segment and geographic information | 22. Segment and geographic information: Operating segments— Nomura’s operating management and management reporting are prepared based on the Retail, the Asset Management, and the Wholesale segments. Nomura structures its business segments based upon the nature of its main products and services, its client base and its management structure. The operating results of the Merchant Banking division are included in “ Other . The accounting policies for segment information follow U.S. GAAP, except for the impact of unrealized gains/losses on investments in equity securities held for operating purposes, which under U.S. GAAP are included in Income (loss) before income taxes Revenues and expenses directly associated with each business segment are included in the operating results of each respective segment. Revenues and expenses that are not directly attributable to a particular segment are allocated to each respective business segment or included in “ Other Business segments’ results are shown in the following tables. Net interest revenue Millions of yen Retail Asset Management Wholesale Other (Incl. elimination) Total Year ended March 31, 2018 Non-interest ¥ 406,295 ¥ 118,545 ¥ 587,474 ¥ 272,271 ¥ 1,384,585 Net interest revenue 6,613 8,792 127,859 (32,778 ) 110,486 Net revenue 412,908 127,337 715,333 239,493 1,495,071 Non-interest 309,771 61,167 614,745 183,128 1,168,811 Income before income taxes ¥ 103,137 ¥ 66,170 ¥ 100,588 ¥ 56,365 ¥ 326,260 Year ended March 31, 2019 Non-interest ¥ 331,743 ¥ 89,607 ¥ 496,484 ¥ 147,524 ¥ 1,065,358 Net interest revenue 7,737 8,238 58,904 (16,263 ) 58,616 Net revenue 339,480 97,845 555,388 131,261 1,123,974 Non-interest 289,990 63,660 666,787 134,034 1,154,471 Income (loss) before income taxes ¥ 49,490 ¥ 34,185 ¥ (111,399 ) ¥ (2,773 ) ¥ (30,497 ) Year ended March 31, 2020 Non-interest ¥ 329,983 ¥ 85,190 ¥ 506,203 ¥ 257,961 ¥ 1,179,337 Net interest revenue 6,376 7,415 142,416 (26,388 ) 129,819 Net revenue 336,359 92,605 648,619 231,573 1,309,156 Non-interest 286,926 63,833 556,399 132,410 1,039,568 Income (loss) before income taxes ¥ 49,433 ¥ 28,772 ¥ 92,220 ¥ 99,163 ¥ 269,588 Transactions between operating segments are recorded within segment results on commercial terms and conditions and are eliminated in “ Other The following table presents the major components of Income (loss) before income taxes “Other” Millions of yen Year ended March 31 2018 2019 2020 Net gain (loss) related to economic hedging transactions ¥ (6,461 ) ¥ 1,800 ¥ 17,548 Realized gain on investments in equity securities held for operating purposes 785 221 6,601 Equity in earnings of affiliates 34,248 32,532 34,990 Corporate items (41,884 ) (35,996 ) (22,240 ) Other (1) (2) 69,677 (1,330 ) 62,264 Total ¥ 56,365 ¥ (2,773 ) ¥ 99,163 (1) Amounts reported for the year ended March 31, 2018 include the gain recognized in earnings in connection with the liquidation of a non-Japanese (2) Includes gain of ¥73,293 million from the partial sale of Nomura’s investment in ordinary shares of Nomura Research Institute, Ltd. for the year ended March 31, 2020. The table below presents reconciliations of the combined business segments’ results included in the preceding table to Nomura’s reported Net revenue, Non-interest expenses Income (loss) before income taxes Millions of yen Year ended March 31 2018 2019 2020 Net revenue ¥ 1,495,071 ¥ 1,123,974 ¥ 1,309,156 Unrealized gain (loss) on investments in equity securities held for operating purposes 1,898 (7,204 ) (21,327 ) Consolidated net revenue ¥ 1,496,969 ¥ 1,116,770 ¥ 1,287,829 Non-interest ¥ 1,168,811 ¥ 1,154,471 ¥ 1,039,568 Unrealized gain (loss) on investments in equity securities held for operating purposes — — — Consolidated non-interest ¥ 1,168,811 ¥ 1,154,471 ¥ 1,039,568 Income (loss) before income taxes ¥ 326,260 ¥ (30,497 ) ¥ 269,588 Unrealized gain (loss) on investments in equity securities held for operating purposes 1,898 (7,204 ) (21,327 ) Consolidated income (loss) before income taxes ¥ 328,158 ¥ (37,701 ) ¥ 248,261 Geographic information— Nomura’s identifiable assets, revenues and expenses are generally allocated based on the country of domicile of the legal entity providing the service. However, because of the integration of the global capital markets and the corresponding global nature of Nomura’s activities and services, it is not always possible to make a precise separation by location. As a result, various assumptions, which are consistent among years, have been made in presenting the following geographic data. The tables below present a geographic allocation of Net revenue Income (loss) before income taxes Net revenue Net revenue Income (loss) before income taxes Millions of yen Year ended March 31 2018 2019 2020 Net revenue (1) Americas ¥ 268,653 ¥ 169,581 ¥ 229,265 Europe 168,186 131,175 115,483 Asia and Oceania 68,011 47,977 42,571 Subtotal 504,850 348,733 387,319 Japan 992,119 768,037 900,510 Consolidated ¥ 1,496,969 ¥ 1,116,770 ¥ 1,287,829 Income (loss) before income taxes: Americas ¥ (8,771 ) ¥ (114,081 ) ¥ 7,354 Europe (14,654 ) (56,851 ) (14,067 ) Asia and Oceania 22,751 5,014 19,817 Subtotal (674 ) (165,918 ) 13,104 Japan 328,832 128,217 235,157 Consolidated ¥ 328,158 ¥ (37,701 ) ¥ 248,261 March 31 2018 2019 2020 Long-lived assets: Americas ¥ 117,323 ¥ 50,829 ¥ 84,904 Europe 67,010 56,821 52,179 Asia and Oceania 8,613 9,588 29,618 Subtotal 192,946 117,238 166,701 Japan 231,003 252,420 292,212 Consolidated ¥ 423,949 ¥ 369,658 ¥ 458,913 (1) There is no revenue derived from transactions with a single major external customer. |
Significant subsequent events
Significant subsequent events | 12 Months Ended |
Mar. 31, 2020 | |
Subsequent Events [Abstract] | |
Significant subsequent events | 23. Significant subsequent events: Rights conversion related to the Tokyo Nihonbashi district redevelopment On May 20, 2020, the rights conversion plan of the Tokyo Nihonbashi district redevelopment project in which Nomura participate as members of the redevelopment partnership was approved by Tokyo Metropolitan Government. The rights conversion became effective on May 29, 2020. As a result, Nomura is entitled to receive ownership in the redeveloped real estate in the future and cash representing compensation for loss of rental income and other related expenses, in exchange for the assets it held in that area. Nomura will record an Commitments, contingencies and guarantees |
Supplementary subsidiary guaran
Supplementary subsidiary guarantee information required under SEC rules | 12 Months Ended |
Mar. 31, 2020 | |
Supplementary Subsidiary Guarantee Information Required under SEC Rules [Abstract] | |
Supplementary subsidiary guarantee information required under SEC rules | 24. Supplementary subsidiary guarantee information required under SEC rules: The Company provides several guarantees of debt of its subsidiaries. The Company has fully and unconditionally guaranteed the securities issued by Nomura America Finance LLC, which is an indirect, wholly owned finance subsidiary of the Company. |
Summary of accounting policies
Summary of accounting policies (Policies) | 12 Months Ended |
Mar. 31, 2020 | |
Accounting Policies [Abstract] | |
Description of business | Description of business— Nomura Holdings, Inc. (“Company”) and its broker-dealer, banking and other financial services subsidiaries provide investment, financing and related services to individual, institutional and government clients on a global basis. The Company and other entities in which it has a controlling financial interest are collectively referred to as “Nomura” within these consolidated financial statements. Nomura operates its business through various divisions based upon the nature of specific products and services, its main client base and its management structure. Nomura reports operating results through three business segments: Retail, Asset Management, and Wholesale. In its Retail segment, Nomura provides investment consultation services mainly to individual clients in Japan. In its Asset Management segment, Nomura develops and manages investment trusts, and provides investment advisory services. In its Wholesale segment, Nomura engages in the sales and trading of debt and equity securities, derivatives, and currencies on a global basis, and provides investment banking services such as the underwriting of debt and equity securities as well as mergers and acquisitions and financial advice. |
Basis of presentation | Basis of presentation— The accounting and financial reporting policies of the Nomura conform to accounting principles generally accepted in the United States (“U.S. GAAP”) as applicable to broker-dealers. These consolidated financial statements include the financial statements of the Company and other entities in which it has a controlling financial interest. Nomura initially determines whether it has a controlling financial interest in an entity by evaluating whether the entity is a variable interest entity (“VIE”) under Financial Accounting Standards Board (“FASB”) Accounting Standard Codification (“ASC”) 810 “ Consolidation For entities other than VIEs, Nomura is generally determined to have a controlling financial interest in an entity when it owns a majority of the voting interests. Equity investments in entities in which Nomura has significant influence over operating and financial decisions (generally defined as a holding of 20 to 50 percent of the voting stock of a corporate entity, or at least 3 percent of a limited partnership) are accounted for under the equity method of accounting (“equity method investments”) and reported within Other assets Investments in and advances to affiliated companies Financial Instruments Trading assets Private equity investments or Other assets—Other. Trading assets Equity investments Certain entities in which Nomura has a financial interest are investment companies under ASC 946 “ Financial Services—Investment Companies The Company’s principal subsidiaries include Nomura Securities Co., Ltd. (“NSC”), Nomura Securities International, Inc. (“NSI”), Nomura International plc (“NIP”) and Nomura Financial Products & Services, Inc. (“NFPS”). All material intercompany transactions and balances have been eliminated on consolidation. Certain reclassifications of previously reported amounts have been made to conform to the current year presentation. |
Use of estimates | Use of estimates — Critical accounting estimates are those that are the most important accounting estimates used to prepare these consolidated financial statements and which require the most difficult, subjective and complex judgments by management. Such estimates determined by management include estimates regarding the fair value of financial instruments, the outcome of litigation and tax examinations, the recovery of the carrying value of goodwill, the allowance for doubtful accounts, the realization of deferred tax assets, the impairment of equity method investments and other non-financial assets and other matters that affect the reported amounts of assets and liabilities as well as the disclosures in these consolidated financial statements. Estimates, by their nature, are based on underlying assumptions which require management judgment and depend on the extent of available information. Actual results in future periods may differ from current estimates, which could have a material impact on these consolidated financial statements. The COVID-19 pandemic has impacted some of the critical accounting estimates used in these consolidated financial statements during the year ended March 31, 2020 and is expected to continue to impact these estimates in future periods. Assumptions around how long the COVID-19 pandemic will last and how long the economies and financial markets in the key jurisdictions in which Nomura and its clients operate will take to recover has, and will continue to, affect these estimates. The key assumptions and estimates impacted by COVID-19 include: • The ability of clients to perform on their contractual obligations to Nomura arising from financial instruments for determination of fair value measurements or allowances for doubtful accounts; • The volatility and dislocation in global financial markets for determination of fair value measurements; • The expected duration of declines in global equity markets for determination of fair value measurements and impairment of equity method investments; • The future use of non-financial assets within Nomura for determination of whether impairments are required; and • The future profitability of Nomura to realize deferred tax assets. Various references are made throughout the notes to these consolidated financial statements where critical accounting estimates based on management judgment have been made, the nature of the estimates, the underlying assumptions made by management used to derive those estimates and how the COVID-19 pandemic, has and is expected to continue to impact these estimates and therefore amounts reported in these consolidated financial statements. |
Fair value of financial instruments | Fair value of financial instruments — A significant amount of Nomura’s financial assets and financial liabilities are carried at fair value, with changes in fair value recognized through the consolidated statements of income or the consolidated statements of comprehensive income. Use of fair value is either specifically required under U.S. GAAP or Nomura makes an election to use fair value for certain eligible items under the fair value option. Other financial assets and financial liabilities are carried at fair value on a nonrecurring basis, where the primary measurement basis is not fair value. Fair value is only used in specific circumstances after initial recognition, such as to measure impairment. In both cases, fair value is generally determined in accordance with ASC 820 “ Fair Value Measurements and Disclosures Fair value measurements The fair value of financial assets and financial liabilities of consolidated VIEs which meet the definition of collateralized financing entities are both measured using the more observable fair value of the financial assets and financial liabilities. |
Transfers of financial assets | Transfers of financial assets— Nomura accounts for the transfer of a financial asset as a sale when Nomura relinquishes control over the asset by meeting the following conditions: (a) the asset has been isolated from the transferor (even in bankruptcy or other receivership), (b) the transferee has the right to pledge or exchange the asset received, or if the transferee is an entity whose sole purpose is to engage in securitization or asset-backed financing activities, if, the holders of its beneficial interests have the right to pledge or exchange the beneficial interests held and (c) the transferor has not maintained effective control over the transferred asset. In connection with its securitization activities, Nomura utilizes special purpose entities (“SPEs”) to securitize commercial and residential mortgage loans, government and corporate securities and other types of financial assets. Nomura’s involvement with SPEs includes structuring and underwriting, distributing and selling debt instruments and beneficial interests issued by SPEs to investors. Nomura derecognizes financial assets transferred in securitizations provided that Nomura has relinquished control over such assets and does not consolidate the SPE. Nomura may obtain or retain an interest in the financial assets, including residual interests in the SPEs dependent upon prevailing market conditions. Any such interests are accounted for at fair value and reported within Trading assets Revenue—Net gain on trading |
Foreign currency translation | Foreign currency translation— The financial statements of the Company’s subsidiaries are measured using their functional currency which is the currency of the primary economic environment in which the entity operates. All assets and liabilities of subsidiaries which have a functional currency other than Japanese Yen are translated into Japanese Yen at exchange rates in effect at the balance sheet date, and all revenue and expenses are translated at the average exchange rates for the respective years and the resulting translation adjustments are accumulated and reported within Accumulated other comprehensive income (loss) Foreign currency assets and liabilities are translated at exchange rates in effect at the balance sheet date and the resulting translation gains or losses are credited or charged to the consolidated statements of income. |
Revenue from services provided to clients | Revenue from services provided to clients— Nomura earns revenue through fees and commissions from providing financial services to customers across all three business divisions. These services primarily include trade execution and clearing services, financial advisory services, asset management services, underwriting services, syndication services and distribution services. Revenues are recognized when or as the customer obtains control of the service provided by Nomura which depends on when each of the key distinct substantive promises made by Nomura within the contract with the customer (“performance obligations”) are satisfied. Such performance obligations are generally satisfied at a particularly point in time or, if certain criteria are met, over a period of time. Revenues from providing trade execution and clearing services are reported in the consolidated statements of income within Revenue—Commissions, Revenue—Fees from investment banking Revenue — Asset management and portfolio service fees Costs to obtain or fulfill the underlying contract to provide services to a customer are deferred as assets if certain criteria are met. These deferred costs, which are reported in the consolidated balance sheets within Other assets |
Trading assets and trading liabilities | Trading assets and trading liabilities Trading assets and Trading liabilities Revenue—Net gain on trading Certain trading liabilities are held to economically hedge the price risk of investments in equity securities held for operating purposes. Changes in fair value of these trading liabilities are reported within Revenue—Gain (loss) on investments in equity securities |
Collateralized agreements and collateralized financing | Collateralized agreements and collateralized financing— Collateralized agreements Securities purchased under agreements to resell Securities borrowed Collateralized financing Securities sold under agreements to repurchase Securities loaned Reverse repurchase and repurchase agreements principally involve the buying or selling of securities under agreements with clients to resell or repurchase these securities to or from those clients, respectively. These transactions are generally accounted for as collateralized agreements or collateralized financing transactions and are recognized in the consolidated balance sheets at the amount for which the securities were originally acquired or sold. Certain reverse repurchase and repurchase agreements are carried at fair value through election of the fair value option. No allowance for credit losses is generally recognized against reverse repurchase agreements due to the strict collateralization requirements. Nomura also enters into Gensaki Repo transactions which are the standard type of repurchase agreement used in Japanese financial markets. Gensaki Repo transactions contain margin requirements, rights of security substitution, and certain restrictions on the client’s right to sell or repledge the transferred securities. Gensaki Repo transactions are accounted for as collateralized agreements or collateralized financing transactions and are recognized on the consolidated balance sheets at the amount that the securities were originally acquired or sold. Reverse repurchase agreements and repurchase agreements accounted for as collateralized agreements and collateralized financing transactions, respectively, entered into with the same counterparty and documented under a master netting agreement are offset in the consolidated balance sheets where the specific criteria defined by ASC 210-20 Balance Sheet—Offsetting 210-20”) close-out Securities borrowing and lending transactions are generally accounted for as collateralized agreements and collateralized financing transactions, respectively. These transactions are generally cash collateralized and are recognized on the consolidated balance sheets at the amount of cash collateral advanced or received. No allowance for credit losses is generally recognized against securities borrowing transactions due to the strict collateralization requirements. Securities borrowing and lending transactions accounted for as collateralized agreements and collateralized financing transactions, respectively, entered into with the same counterparty and documented under a master netting agreement are also offset in the consolidated balance sheets where the specific criteria defined by ASC 210-20 Other secured borrowings Trading balances of secured borrowings Transfers and Servicing Long-term borrowings Securitizations and Variable Interest Entities Borrowings All Nomura-owned securities pledged to counterparties where the counterparty has the right to sell or repledge the securities, including collateral transferred under Gensaki Repo transactions, are reported parenthetically within Trading assets as Securities pledged as collateral See Note 5 “ Collateralized transactions |
Derivatives | Derivatives Nomura uses a variety of derivative financial instruments, including futures, forwards, swaps and options, for both trading and non-trading Trading assets or Trading liabilities Short-term borrowings or Long-term borrowings Changes in fair value are recognized either through the consolidated statements of income or the consolidated statements of comprehensive income depending on the purpose for which the derivatives are used. Derivative assets and liabilities with the same counterparty documented under a master netting agreement are offset in the consolidated balance sheets where the specific criteria defined by ASC 210-20 Derivatives and Hedging close-out Exchange traded and centrally cleared OTC derivatives typically involve daily variation margin payments and receipts which reflect changes in the fair value of the related derivative. Such variation margin amounts are accounted for as either a partial settlement of the derivative or as a separate cash collateral receivable or payable depending on the legal form of the arrangement. Trading Derivative financial instruments used for trading purposes, including bifurcated embedded derivatives, are carried at fair value with changes in fair value reported in the consolidated statements of income within Revenue—Net gain on trading Non-trading In addition to its trading activities, Nomura uses derivative financial instruments for other than trading purposes such as to manage risk exposures arising from recognized assets and liabilities, forecasted transactions and firm commitments. Certain derivatives used for non-trading Nomura designates certain derivative financial instruments as fair value hedges of interest rate risk and foreign exchange risk arising from specific financial liabilities and foreign currency denominated non-trading Interest expense Revenue Other Derivative financial instruments designated as hedges of the net investment in foreign operations related to specific subsidiaries with non-Japanese Revenue—Other Accumulated other comprehensive income (loss) See Note 3 “ Derivative instruments and hedging activities |
Loans receivable | Loans receivable— Loans receivable are loans which management intends to hold for the foreseeable future. Loans receivable are either carried at fair value or at amortized cost. Interest earned on loans receivable is generally reported in the consolidated statements of income within Revenue—Interest and dividends Loans receivable carried at fair value Certain loans which are risk managed on a fair value basis are carried at fair value through election of the fair value option. Nomura makes this election to mitigate volatility in the consolidated statements of income caused by the difference in measurement basis that would otherwise exist between the loans and the derivatives used to risk manage those loans. Changes in the fair value of loans receivable carried at fair value are reported in the consolidated statements of income within Revenue—Net gain on trading Loans receivable carried at amortized cost Loans receivable which are not carried at fair value are carried at amortized cost. Amortized cost represents cost adjusted for deferred fees and direct costs, unamortized premiums or discounts on purchased loans and after deducting any applicable allowance for credit losses when loans receivable are identified as impaired. Loan origination fees, net of direct origination costs, are amortized to Revenue—Interest and dividends Modifications of loans receivable where the borrower is in financial difficulty and Nomura has granted a financial concession are typically accounted for as troubled debt restructurings (“TDRs”) and the loan receivable classified as impaired with recognition of an appropriate allowance for credit losses. However, consistent with guidance issued by U.S. banking regulators in March 2020 as a result of the COVID-19 pandemic, certain modifications of loans receivable which meet the above criteria have not been accounted for TDRs nor the loan classified as impaired provider the borrower was current with payments prior to the COVID-19 pandemic, the nature of the concession is short-term and only permits a payment delay, waiver of fees or extension of repayment terms. See Note 7 “ Financing receivables |
Other receivables | Other receivables— Receivables from customers on client securities transactions, amounts receivable from customers Receivables from other than customers Receivables from other than customers These amounts are carried at contractual amounts due less any applicable allowance for credit losses which reflects management’s best estimate of probable losses incurred within these receivables which have been specifically identified as impaired. The allowance for credit losses is reported in the consolidated balance sheets within Allowance for doubtful accounts |
Loan commitments | Loan commitments— Unfunded loan commitments written by Nomura are accounted off-balance These loan commitments are generally accounted for in a manner consistent with the accounting for the loan receivable upon funding. Where the loan receivable will be classified as a trading asset or will be elected for the fair value option, the loan commitment is also generally held at fair value, with changes in fair value reported in the consolidated statements of income within Revenue—Net gain on trading For loan commitments where the loan will be held for the foreseeable future, Nomura recognizes an allowance for credit losses which is reported within Other liabilities—other Loan commitment fees are generally deferred and recognized over the term |
Payables and deposits | Payables and deposits— Payables to customers Payables to other than customers Deposits received at banks |
Office buildings, land, equipment and facilities | Office buildings, land, equipment and facilities— Office buildings, land, equipment and facilities, owned and held for use by Nomura are stated at cost, net of accumulated depreciation and amortization, except for land, which is stated at cost. Significant renewals and additions are capitalized at cost. Maintenance, repairs and minor renewals are expensed as incurred in the consolidated statements of income. Leases and subleases entered into by Nomura as either lessor or lessee are classified as either operating or finance leases on inception date in accordance with ASC 842 “ Leases right-of-use Other assets—Office buildings, land, equipment and facilities Other liabilities Lease liabilities are initially measured at present value of the future minimum lease payments over the expected lease term. The future minimum lease payments are discounted using a relevant Nomura incremental borrowing rate as derived from information available at lease commencement date. The expected lease term is generally determined based on the contractual maturity of the lease, and adjusted for periods covered by options to extend or terminate the lease when Nomura is reasonably certain to exercise those options. ROU assets are initially measured at the amount of lease liabilities, and adjusted for any prepaid lease payments, initial direct costs incurred and any lease incentives received. After lease commencement date, for operating leases Nomura as lessee recognizes lease expense over the lease term generally on a straight-line basis within Occupancy and related depreciation Information processing and communications The following table presents a breakdown of owned and leased office buildings, land, equipment Millions of yen March 31 2019 2020 Land ¥ 49,474 ¥ 49,214 Office buildings 103,423 71,468 Equipment and facilities 75,206 36,279 Software 121,245 111,031 Construction in progress 17 1,738 Operating lease ROU assets — 170,782 Total ¥ 349,365 ¥ 440,512 Depreciation and amortization charges of owned assets are generally computed using the straight-line method and recognized over the estimated useful lives of each asset. The estimated useful life of an asset takes into consideration technological change, normal deterioration and actual physical usage by Nomura. Leasehold improvements are depreciated over the shorter of their useful life or the term of the lease. The estimated useful lives for significant asset classes are as follows: Office buildings 3 to 50 years Equipment and facilities 2 to 20 years Software 3 to 10 years Depreciation and amortization charges of depreciable assets are reported within Non-interest expenses—Information processing and communications and million, and in Non-interest expenses—Occupancy and related depreciation Long-lived assets, including ROU assets |
Investments in equity securities | Investments in equity securities— Nomura holds minority stakes in the equity securities of unaffiliated Japanese financial institutions and corporations in order to promote existing and potential business relationships. These companies often have similar investments in Nomura. Such cross-holdings are a customary business practice in Japan and provide a way for companies to manage shareholder relationships. These investments, which Nomura refers to as being held for operating purposes, are carried at fair value and reported within Other assets—Investments in equity securities Revenue—Gain (loss) on investments in equity securities |
Other non-trading debt and equity securities | Other non-trading debt and equity securities— Certain non-trading non-trading Non-trading non-trading Other assets—Non-trading debt securities Other assets—Other Revenue—Other non-trading Revenue—Other |
Short-term and long-term borrowings | Short-term and long-term borrowings— Short-term borrowings are defined as borrowings which are due on demand, which have a contractual maturity of one year or less at issuance date, or which have a longer contractual maturity but which contain features outside of Nomura’s control that allows the investor to demand redemption within one year from original issuance date. Short-term and long-term borrowings primarily consist of commercial paper, bank borrowings, and certain structured notes issued by Nomura and SPEs consolidated by Nomura, and financial liabilities recognized in transfers of financial assets which are accounted for as financings rather than sales under ASC 860 (“secured financing transactions”). Of these financial liabilities, certain structured notes and secured financing transactions are accounted for at fair value on a recurring basis through election of the fair value option. Other short and long-term borrowings are carried at amortized cost. Structured notes are debt securities which contain embedded features (often meeting the accounting definition of a derivative) that alter the return to the investor from simply receiving a fixed or floating rate of interest to a return that depends upon some other variable(s) such as an equity or equity index, commodity price, foreign exchange rate, credit rating of a third party or more complex interest rate calculation. Structured borrowings are borrowings that have similar characteristics as structured notes. All structured notes issued by Nomura and certain structured borrowings issued by Nomura on or after April 1, 2018 are carried at fair value on a recurring basis through election of the fair value option. This blanket election for structured notes and certain structured borrowings are made primarily to mitigate the volatility in the consolidated statements of income caused by differences in the measurement basis for structured notes and the derivatives used to risk manage those positions and to generally simplify the accounting Nomura applies to these financial instruments. Changes in the fair value of structured notes elected for the fair value option except for those related to structured notes and attributable to Nomura’s own creditworthiness, are reported within Revenue—Net gain on trading See Note 11 “ Borrowings |
Income taxes | Income taxes— Deferred tax assets and liabilities are recognized to reflect the expected future tax consequences of operating loss carryforwards, tax credit carryforwards and temporary differences between the carrying amounts for financial reporting purposes and the tax bases of assets and liabilities based upon enacted tax laws and tax rates. Nomura recognizes deferred tax assets to the extent it believes that it is more likely than not that a benefit will be realized. A valuation allowance is established against deferred tax assets for tax benefits available to Nomura that are not deemed more likely than not to be realized. Deferred tax assets and deferred tax liabilities that relate to the same tax-paying Other assets—Other Other liabilities Nomura recognizes and measures unrecognized tax benefits based on Nomura’s estimate of the likelihood, based on technical merits, that tax positions will be sustained upon examination based on the facts and circumstances and information available at the end of each period. Nomura adjusts the level of unrecognized tax benefits when there is more information available, or when an event occurs requiring a change. The reassessment of unrecognized tax benefits could have a material impact on Nomura’s effective tax rate in the period in which it occurs. Nomura recognizes income tax-related Income tax expense See Note 16 “ Income taxes |
Stock-based and other compensation awards | Stock-based and other compensation awards— Stock-based awards issued by Nomura to senior management and other employees are classified as either equity or liability awards depending on the terms of the award. Stock-based awards such as Stock Acquisition Rights (“SARs”) and Restricted Stock Units (“RSUs”) which are expected to be settled by the delivery of the Company’s common stock are classified as equity awards. For these awards, total compensation cost is generally fixed at the grant date and measured using the grant-date fair value of the award, net of any amount the employee is obligated to pay and estimated forfeitures. Stock-based awards such as Notional Stock Units (“NSUs”) and Collared Notional Stock Units (“CSUs”) which are expected to be settled in cash are classified as liability awards. Other awards such as Notional Index Units (“NIUs”) which are linked to a world stock index quoted by Morgan Stanley Capital International and which are expected to be cash settled are also effectively classified as liability awards. Liability awards are remeasured to fair value at each balance sheet date, net of estimated forfeitures with the final measurement of cumulative compensation cost equal to the settlement amount. For both equity and liability awards, fair value is determined either by using option pricing models, the market price of the Company’s common stock or the price of the third party index, as appropriate. Compensation cost is recognized in the consolidated statements of income over the requisite service period, which generally is equal to the contractual vesting period. Where an award has graded vesting, compensation expense is recognized using the accelerated recognition method. Certain deferred compensation awards granted since May 2013 include “Full Career Retirement” (“FCR”) provisions which permit recipients of the awards to continue to vest in the awards upon voluntary termination or by claiming FCR during a pre-defined See Note 14 “ Deferred compensation awards |
Earnings per share | Earnings per share— The computation of basic earnings per share is based on the weighted average number of shares outstanding during the year. Diluted earnings per share reflects the assumed conversion of all dilutive securities based on the most advantageous conversion rate or exercise price available to the investors, and assuming conversion of convertible debt under the if-converted See Note 12 “ Earnings per share |
Cash and cash equivalents | Cash and cash equivalents— Nomura defines cash and cash equivalents as cash on hand and demand deposits with banks. |
Goodwill and intangible assets | Goodwill and intangible assets— Goodwill is recognized upon completion of a business combination as the difference between the purchase price and the fair value of the net assets acquired. Subsequent to initial recognition, goodwill is not amortized but is tested for impairment at a reporting unit level during the fourth quarter of each fiscal year, or more frequently during earlier interim periods if events or circumstances indicate there may be impairment. Nomura’s reporting units are at the same level as or one level below its business segments. Nomura tests goodwill of each separate reporting unit by initially qualitatively assessing whether events and circumstances indicate that it is more likely than not (i.e. greater than 50%) that a reporting unit’s fair value is less than its carrying amount. If such assessment indicates fair value is not less than the carrying value, the reporting unit is deemed not to be impaired and no further analysis is required. If it is more likely than not that the fair value of the reporting unit is below its carrying value, a quantitative two-step In the first step, the current estimated fair value of the reporting unit is compared with its carrying value, including goodwill. If the fair value is less than the carrying value, then a second step is performed. In the second step, the implied current fair value of the reporting unit’s goodwill is determined by comparing the fair value of the reporting unit to the fair value of the net assets of the reporting unit, as if the reporting unit were being acquired in a business combination. An impairment loss is recognized if the carrying value of goodwill exceeds its implied current fair value. Intangible assets not subject to amortization (“indefinite-lived intangible assets”) are tested for impairment on an individual asset basis during the fourth quarter of each fiscal year, or more frequently during earlier interim periods if events or circumstances indicate there may be impairment. Similar to goodwill, Nomura tests an indefinite-lived intangible asset by initially qualitatively assessing whether events or circumstances indicate that it is more likely than not that the fair value of the intangible asset is less than its carrying amount. If such assessment indicates fair value is not less than the carrying value, the intangible asset is deemed not to be impaired and no further analysis is required. If it is more likely than not that the fair value of the intangible asset is below its carrying value, the current estimated fair value of the intangible asset is compared with its carrying value. An impairment loss is recognized if the carrying value of the intangible asset exceeds its estimated fair value. Intangible assets with finite lives (“finite-lived intangible assets”) are amortized over their estimated useful lives and tested for impairment either individually or with other assets (“asset group”) when events and circumstances indicate that the carrying value of the intangible asset (or asset group) may not be recoverable. A finite-lived intangible asset is impaired when its carrying amount or the carrying amount of the asset group exceeds its fair value. An impairment loss is recognized only if the carrying amount of the intangible asset (or asset group) is not recoverable and exceeds its fair value. For both goodwill and intangible assets, to the extent an impairment loss is recognized, the loss establishes a new cost basis for the asset which cannot be subsequently reversed. See Note 10 “ Other assets Other / Other liabilities Nomura’s equity method investments are tested in their entirety for other-than-temporary impairment when there is an indication of impairment. The underlying assets associated with the equity method investments, including goodwill, are not tested separately for impairment. |
Restructuring costs | Restructuring costs— Costs associated with an exit activity are recognized at fair value in the period in which the liability is incurred. Such costs include one-time one-time See Note 15 “Restructuring initiatives |
Employee benefit plans | Employee benefit plans— Nomura provides certain eligible employees with various benefit plans, including pensions and other post-retirement benefits. These benefit plans are classified as either defined benefit plans or defined contribution plans. Plan assets and benefit obligations, as well as the net periodic benefit cost of a defined benefit pension or post-retirement benefit plan, are recognized based on various actuarial assumptions such as discount rates, expected return on plan assets and future compensation levels at the balance sheet date. Actuarial gains and losses in excess of 10% of the greater of the projected benefit obligation or the fair value of plan assets and unrecognized prior service costs or credits are amortized to net periodic benefit cost on a straight-line basis over the average remaining service life of active employees expected to receive benefits. The overfunded or underfunded status of a plan is reported within Other assets—Other Other liabilities Other comprehensive income (loss) net-of-tax The net periodic pension and other benefit cost of defined contribution plans is recognized within Compensation and benefits See Note 13 “ Employee benefit plans |
New accounting pronouncements adopted during the current year | New accounting pronouncements adopted during the current year— The following table presents a summary of new accounting pronouncements relevant to Nomura which have been adopted during the year ended March 31, 2020: Pronouncement Summary of new guidance Expected adoption date and method of adoption Effect on these ASU 2016-02, Leases (1) • Leases • • • “build-to-suit” • Modified retrospective adoption from April 1, 2019. (2) ¥169,277 million increase in Other Asset—Office buildings, land, equipment, and facilities Other liabilities ¥5,592 million increase in Retained earnings See Note 8 “Leases” where the amended disclosures have been made. (1) As subsequently amended by ASU 2018-01 Land Easement Practical Expedient for Transition to Topic 842 2018-10 Codification Improvements to Topic 842, Leases 2018-11 Leases (Topic 842): Targeted Improvements 2018-20 Leases (Topic 842): Narrow-Scope Improvements for Lessors 2019-01 Leases (Topic 842): Codification Improvements. (2) Nomura used certain practical expedients permitted by ASC 842 including adopting the new requirements through a cumulative-effect adjustment to retained earnings on adoption date. |
Future accounting developments | Future accounting developments— The following table presents a summary of new authoritative accounting pronouncements relevant to Nomura which will be adopted on or after April 1, 2020 and which may have a material impact on these financial statements: Pronouncement Summary of new guidance Expected adoption date and method of adoption Effect on these ASU 2016-13, “ Measurement of Credit Losses on Financial Instruments (3) • • in-scope • • • Modified retrospective adoption from April 1, 2020. For financial instruments subject to CECL, ¥1,972 million increase in Allowance for doubtful accounts Other liabilities Deferred tax assets and cumulative effect adjustment to decrease Retained earnings For financial instruments elected for the FVO, ¥9,774 million decrease in Loans receivable increase in Other liabilities Retained earnings , Allowances for credit losses as determined on adoption date under the new model increased as a result of the COVID-19 pandemic because of the increased credit risk caused by the impact of the pandemic on borrowers. Fair value measurements used Pronouncement Summary of new guidance Expected adoption date and method of adoption Effect on these on adoption date were also lower because of increased credit risk and impact on financial markets caused by the pandemic. ASU 2019-12, “ Simplifying the Accounting for Income Taxes • “Income Taxes” • non-income— • Effective from April 1, 2021. (4) • • • Currently evaluating the potential impact. (3) As subsequently amended by ASU 2018-19 Codification Improvements to Topic 326, Financial Instruments—Credit Losses 2019-04 Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments 2019-05 Financial Instruments—Credit Losses (Topic 326): Targeted Transition Relief. 2019-09 “Codification Improvements to Topic 326, Financial Instruments—Credit Losses” ASU2019-10 “Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates”. (4) Unless Nomura early adopts which is under evaluation. |
Summary of accounting policie_2
Summary of accounting policies (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Accounting Policies [Abstract] | |
Breakdown of Office buildings, land, equipment and facilities | The following table presents a breakdown of owned and leased office buildings, land, equipment Millions of yen March 31 2019 2020 Land ¥ 49,474 ¥ 49,214 Office buildings 103,423 71,468 Equipment and facilities 75,206 36,279 Software 121,245 111,031 Construction in progress 17 1,738 Operating lease ROU assets — 170,782 Total ¥ 349,365 ¥ 440,512 |
Schedule of estimated useful lives for significant asset classes | The estimated useful lives for significant asset classes are as follows: Office buildings 3 to 50 years Equipment and facilities 2 to 20 years Software 3 to 10 years |
Fair value measurements (Tables
Fair value measurements (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair value of financial assets and financial liabilities measured on recurring basis | Billions of yen March 31, 2019 Level 1 Level 2 Level 3 Counterparty and Cash Collateral Netting (1) Balance as of March 31, 2019 Assets: Trading assets and private equity and debt investments (2) Equities (3) ¥ 1,392 ¥ 1,065 ¥ 13 ¥ — ¥ 2,470 Private equity and debt investments (4) — — 26 — 26 Japanese government securities 1,987 — — — 1,987 Japanese agency and municipal securities — 214 1 — 215 Foreign government, agency and municipal securities 2,650 1,544 5 — 4,199 Bank and corporate debt securities and loans for trading purposes — 1,128 160 — 1,288 Commercial mortgage-backed securities (“CMBS”) — 1 2 — 3 Residential mortgage-backed securities (“RMBS”) — 2,761 3 — 2,764 Issued/Guaranteed by government sponsored entity — 2,706 — — 2,706 Other — 55 3 — 58 Real estate-backed securities — — 69 — 69 Collateralized debt obligations (“CDOs”) and other (5) — 55 19 — 74 Investment trust funds and other 349 53 1 — 403 Total trading assets and private equity and debt investments 6,378 6,821 299 — 13,498 Derivative assets (6) Equity contracts 1 806 44 — 851 Interest rate contracts 12 8,610 10 — 8,632 Credit contracts 2 500 31 — 533 Foreign exchange contracts 0 4,870 42 — 4,912 Commodity contracts 1 0 — — 1 Netting — — — (14,077 ) (14,077 ) Total derivative assets 16 14,786 127 (14,077 ) 852 Subtotal ¥ 6,394 ¥ 21,607 ¥ 426 ¥ (14,077 ) ¥ 14,350 Loans and receivables (7) — 544 129 — 673 Collateralized agreements (8) — 615 33 — 648 Other assets Non-trading 138 323 — — 461 Other (2)(3) 416 10 166 — 592 Total ¥ 6,948 ¥ 23,099 ¥ 754 ¥ (14,077 ) ¥ 16,724 Liabilities: Trading liabilities Equities ¥ 1,622 ¥ 198 ¥ 0 ¥ — ¥ 1,820 Japanese government securities 1,264 — — — 1,264 Japanese agency and municipal securities — 3 — — 3 Foreign government, agency and municipal securities 2,906 927 0 — 3,833 Bank and corporate debt securities — 319 0 — 319 Residential mortgage-backed securities (“RMBS”) — 0 — — 0 Collateralized debt obligations (“CDOs”) and other (5) — 3 — — 3 Investment trust funds and other 121 42 — — 163 Total trading liabilities 5,913 1,492 0 — 7,405 Derivative liabilities (6) Equity contracts 1 867 52 — 920 Interest rate contracts 6 8,228 64 — 8,298 Credit contracts 3 422 39 — 464 Foreign exchange contracts — 4,820 22 — 4,842 Commodity contracts 1 0 0 — 1 Netting — — — (13,710 ) (13,710 ) Total derivative liabilities 11 14,337 177 (13,710 ) 815 Subtotal ¥ 5,924 ¥ 15,829 ¥ 177 ¥ (13,710 ) ¥ 8,220 Short-term borrowings (9) ¥ — ¥ 332 ¥ 31 ¥ — ¥ 363 Payables and deposits (10) — 0 0 — 0 Collateralized financing (8) — 291 — — 291 Long-term borrowings (9)(11)(12) 11 3,024 535 — 3,570 Other liabilities (13) 276 22 0 — 298 Total ¥ 6,211 ¥ 19,498 ¥ 743 ¥ (13,710 ) ¥ 12,742 Billions of yen March 31, 2020 Level 1 Level 2 Level 3 Counterparty and Cash Collateral Netting (1) Balance as of March 31, 2020 Assets: Trading assets and private equity and debt investments (2) Equities (3) ¥ 1,193 ¥ 908 ¥ 14 ¥ — ¥ 2,115 Private equity and debt investments (4) — 7 31 — 38 Japanese government securities 1,826 — — — 1,826 Japanese agency and municipal securities — 106 2 — 108 Foreign government, agency and municipal securities 3,257 2,000 8 — 5,265 Bank and corporate debt securities and loans for trading purposes — 1,266 228 — 1,494 Commercial mortgage-backed securities (“CMBS”) — 0 1 — 1 Residential mortgage-backed securities (“RMBS”) — 3,626 62 — 3,688 Issued/Guaranteed by government sponsored entity — 3,602 14 — 3,616 Other — 24 48 — 72 Real estate-backed securities — — 94 — 94 Collateralized debt obligations (“CDOs”) and other (5) — 21 32 — 53 Investment trust funds and other 204 44 0 — 248 Total trading assets and private equity and debt investments 6,480 7,978 472 — 14,930 Derivative assets (6) Equity contracts 4 1,869 48 — 1,921 Interest rate contracts 55 13,551 23 — 13,629 Credit contracts 3 318 86 — 407 Foreign exchange contracts 0 5,183 41 — 5,224 Commodity contracts 9 0 — — 9 Netting — — — (19,248 ) (19,248 ) Total derivative assets 71 20,921 198 (19,248 ) 1,942 Subtotal ¥ 6,551 ¥ 28,899 ¥ 670 ¥ (19,248 ) ¥ 16,872 Loans and receivables (7) — 709 96 — 805 Collateralized agreements (8) — 534 15 — 549 Other assets Non-trading 123 332 — — 455 Other (2)(3) 252 146 168 — 566 Total ¥ 6,926 ¥ 30,620 ¥ 949 ¥ (19,248 ) ¥ 19,247 Liabilities: Trading liabilities Equities ¥ 1,412 ¥ 152 ¥ 0 ¥ — ¥ 1,564 Japanese government securities 1,108 — — — 1,108 Japanese agency and municipal securities — 0 — — 0 Foreign government, agency and municipal securities 2,116 1,114 0 — 3,230 Bank and corporate debt securities — 272 1 — 273 Residential mortgage-backed securities (“RMBS”) — 3 — — 3 Collateralized debt obligations (“CDOs”) and other (5) — 1 1 — 2 Investment trust funds and other 409 148 0 — 557 Total trading liabilities 5,045 1,690 2 — 6,737 Derivative liabilities (6) Equity contracts 7 1,972 29 — 2,008 Interest rate contracts 18 13,125 77 — 13,220 Credit contracts 14 356 87 — 457 Foreign exchange contracts 0 5,071 34 — 5,105 Commodity contracts 5 1 — — 6 Netting — — — (18,987 ) (18,987 ) Total derivative liabilities 44 20,525 227 (18,987 ) 1,809 Subtotal ¥ 5,089 ¥ 22,215 ¥ 229 ¥ (18,987 ) ¥ 8,546 Short-term borrowings (9) ¥ — ¥ 348 ¥ 29 ¥ — ¥ 377 Payables and deposits (10) — 14 1 — 15 Collateralized financing (8) — 247 — — 247 Long-term borrowings (9)(11)(12) 2 3,291 409 — 3,702 Other liabilities (13) 170 129 0 — 299 Total ¥ 5,261 ¥ 26,244 ¥ 668 ¥ (18,987 ) ¥ 13,186 (1) Represents the amount offset under counterparty netting of derivative assets and liabilities as well as cash collateral netting against net derivatives. (2) Certain investments that are measured at fair value using net asset value per share as a practical expedient have not been classified in the fair value hierarchy. As of March 31, 2019 and March 31, 2020, the fair values of these investments which are included in Trading assets and private equity and debt investments Other assets—Others (3) Includes equity investments that would have been accounted for under the equity method had Nomura not chosen to elect the fair value option. (4) Private equity and debt investments non-traded (5) Includes collateralized loan obligations (“CLOs”) and asset-backed securities (“ABS”) such as those secured on credit card loans, auto loans and student loans. (6) Each derivative classification includes derivatives with multiple risk underlyings. For example, interest rate contracts include complex derivatives referencing interest rate risk as well as foreign exchange risk or other factors such as prepayment rates. Credit contracts include credit default swaps as well as derivatives referencing corporate and government debt securities. (7) Includes loans for which the fair value option has been elected. (8) Includes collateralized agreements or collateralized financing for which the fair value option has been elected. (9) Includes structured notes for which the fair value option has been elected. (10) Includes embedded derivatives bifurcated from deposits received at banks. If unrealized gains are greater than unrealized losses, deposits are reduced by the excess amount. (11) Includes embedded derivatives bifurcated from issued structured notes. If unrealized gains are greater than unrealized losses, borrowings are reduced by the excess amount. (12) Includes liabilities recognized from secured financing transactions that are accounted for as financings rather than sales. Nomura elected the fair value option for these liabilities. (13) Includes loan commitments for which the fair value option has been elected. |
Schedule of quantitative and qualitative information regarding significant unobservable inputs and assumptions for certain level 3 financial instruments | March 31, 2019 Financial Instrument Fair Valuation technique Significant unobservable Range of valuation (1) Weighted Average (2) Impact of (3)(4) Interrelationships (5) Assets: Trading assets and private equity and debt investments Equities ¥ 13 DCF Liquidity discounts 75.0% 75.0% Lower fair value Not applicable Private equity and debt investments 26 Market multiples EV/EBITDA ratios 7.7 x 7.7 x Higher fair value Not applicable Foreign government, agency and municipal securities 5 DCF Credit spreads Recovery rates 0.0 – 9.1% 4.0 – 36.0% 0.6% 31.6% Lower fair value Higher fair value No predictable interrelationship Bank and corporate debt securities and loans for trading purposes 160 DCF Credit spreads Recovery rates 0.0 – 15.0% 0.0 – 99.1% 4.1% 72.2% Lower fair value Higher fair value No predictable interrelationship Residential mortgage backed securities (“RMBS”) 3 DCF Yields 0.0 – 78.4% 6.5 – 15.0% 9.1 – 100.0% 13.2% 10.5% 81.1% Lower fair value Lower fair value Lower fair value No predictable interrelationship Real estate-backed securities 69 DCF Yields Loss severities 5.5 – 19.7% 0.0 – 55.2% 12.5% 6.6% Lower fair value No predictable interrelationship Collateralized debt obligations (“CDOs”) and other 19 DCF Yields Prepayment rates Default probabilities 2.7 – 19.0% 1.0 – 2.0% 31.5 – 100.0% 13.1% Lower fair value Change in default probabilities typically accompanied by directionally similar change in loss severities and opposite change in prepayment rates March 31, 2019 Financial Instrument Fair Valuation technique Significant unobservable Range of valuation (1) Weighted Average (2) Impact of (3)(4) Interrelationships (5) Derivatives, net: Equity contracts ¥ (8) Option models Dividend yield 0.0 – 8.0% — — — Higher fair value No predictable interrelationship Interest rate contracts (54) DCF/ Option models Interest rates 0.0 – 2.4% 10.6 – 15.2% 24.2 – 66.8 bp (0.76) – 1.00 — — — — Higher fair value No predictable interrelationship Credit contracts (8) DCF/ Option models Credit spreads 0.0 – 21.4% 0.0 – 100.6% 16.2 – 83.0% 0.27 – 0.75 — — — — Higher fair value No predictable interrelationship Foreign exchange contracts 20 Option models Interest rates (0.4) – 2.4% 1.7 – 35.5% 209.0 – 245.0 bp (0.25) – 0.80 — — — — Higher fair value No predictable interrelationship Loans and receivables 129 DCF Credit spreads 0.0 – 12.3% 3.6% Lower fair value Not applicable Collateralized agreements 33 DCF Repo rate 3.5 – 8.4% 7.0% Lower fair value Not applicable Other assets Other (6) 166 DCF WACC 10.2% 2.5% 10.0% 10.2% 2.5% 10.0% Lower fair value Higher fair value Lower fair value No predictable interrelationship Market multiples EV/EBITDA ratios 4.7 – 13.8 x 8.9 – 32.4 x 0.3 – 2.7 x 10.0 – 50.0% 8.2 x 15.5 x 0.8 x 30.6% Higher fair value Lower fair value Generally changes in multiples result in a corresponding similar directional change in a fair value measurement, assuming earnings levels remain constant. Liabilities: Short-term borrowings 31 DCF/ Option models Volatilities 6.7 – 54.5% (0.75) – 0.91 — — Higher fair value No predictable interrelationship Long-term borrowings 535 DCF/ Option models Volatilities 6.7 – 54.5% — — — Higher fair value No predictable interrelationship March 31, 2020 Financial Instrument Fair Valuation technique Significant unobservable Range of valuation (1) Weighted Average (2) Impact of (3)(4) Interrelationships (5) Assets: Trading assets and private equity and debt investments Equities ¥ 14 DCF Liquidity discounts 75.0% 75.0% Lower fair value Not applicable Market multiples Liquidity discounts 20.0% 20.0% Lower fair value Not applicable Private equity and debt investments 31 DCF WACC Growth rates 7.0 – 13.5% 10.0% Lower fair value No predictable interrelationship Market multiples EV/EBITDA ratios 1.0 – 11.0x 9.6 x 5.0 – 30.0% 8.9x Higher fair value No predictable interrelationship Foreign government, agency and municipal securities 8 DCF Credit spreads 0.0 – 1.4% 0.5% Lower fair value No predictable interrelationship Bank and corporate debt securities and loans for trading purposes 228 DCF Credit spreads 0.0 – 17.9% 5.8% Lower fair value No predictable interrelationship Residential mortgage backed securities (“RMBS”) 62 DCF Yields 0.0 – 30.8% 6.7% Lower fair value No predictable interrelationship Real estate-backed securities 94 DCF Loss severities 0.0 – 8.1% 3.4% Lower fair value Not applicable Collateralized debt obligations (“CDOs”) and other 32 DCF Yields 6.4 – 56.8% 21.6% Lower fair value Change in default probabilities typically accompanied by directionally similar change in loss severities and opposite change in prepayment rates March 31, 2020 Financial Instrument Fair Valuation technique Significant unobservable Range of valuation (1) Weighted Average (2) Impact of (3)(4) Interrelationships (5) Derivatives, net: Equity contracts ¥ 19 Option models Dividend yield 0.0 – 18.7% — — — Higher fair value Higher fair value Higher fair value No predictable interrelationship Interest rate contracts (54) DCF/ Option models Interest rates (0.1) – 2.0% — — — — Higher fair value Higher fair value Higher fair value Higher fair value No predictable interrelationship Credit contracts (1) DCF/ Option models Credit spreads Volatilities 0.1 – 28.4% — — — — Higher fair value Higher fair value Higher fair value Higher fair value No predictable interrelationship Foreign exchange contracts 7 Option models Interest rates (0.1) – 0.8% — — — — Higher fair value Higher fair value Higher fair value Higher fair value No predictable interrelationship Loans and receivables 96 DCF Credit spreads 0.0 – 20.5% 4.2% Lower fair value Higher fair value No predictable interrelationship Collateralized agreements 15 DCF Repo rate 3.8 – 5.6% 4.9% Lower fair value Not applicable Other assets Other (6) 168 DCF WACC 10.1% 2.0% 10.0% 10.1% Lower fair value Higher fair value Lower fair value No predictable interrelationship Market multiples EV/EBITDA ratios PE Ratios Price/Book ratios Liquidity discounts 3.9 – 10.3 x 4.6 x 11.4 x 0.8 x 28.6% Higher fair value Higher fair value Higher fair value Lower fair value Generally changes in multiples result in a corresponding similar directional change in a fair value measurement, assuming earnings levels remain constant. Liabilities: Short-term borrowings 29 DCF/ Option models Volatilities 12.6 – 76.4% (0.72) – 0.94 — — Higher fair value Higher fair value No predictable interrelationship Long-term borrowings 409 DCF/ Option models Volatilities 8.6 – 76.4% 30.0 – 103.2 bp (1.00) – 0.98 — — — Higher fair value Higher fair value Higher fair value No predictable interrelationship (1) Range information is provided in percentages, coefficients and multiples and represents the highest and lowest level significant unobservable valuation input used to value that type of financial instrument. A wide dispersion in the range does not necessarily reflect increased uncertainty or subjectivity in the valuation input and is typically just a consequence of the different characteristics of the financial instruments themselves. (2) Weighted average information for non-derivative (3) The above table only considers the impact of an increase in each significant unobservable valuation input on the fair value measurement of the financial instrument. However, a decrease in the significant unobservable valuation input would have the opposite effect on the fair value measurement of the financial instrument. For example, if an increase in a significant unobservable valuation input would result in a lower fair value measurement, a decrease in the significant unobservable valuation input would result in a higher fair value measurement. (4) The impact of an increase in the significant unobservable input on the fair value measurement for a derivative assumes Nomura is long risk to the input e.g., long volatility. Where Nomura is short such risk, the impact of an increase would have a converse effect on the fair value measurement of the derivative. (5) Consideration of the interrelationships between significant unobservable inputs is only relevant where more than one unobservable valuation input is used to determine the fair value measurement of the financial instrument. (6) Valuation technique(s) and unobservable valuation inputs in respect of equity securities reported within Other assets |
Increases and decreases of Level 3 assets and liabilities measured at fair value on recurring basis unrealized and realized gain/losses included in revenue | For the years ended March 31, 2019 and 2020, gains and losses related to Level 3 assets and liabilities did not have a material impact on Nomura’s liquidity and capital resources management. Billions of yen Year ended March 31, 2019 Balance as of April 1, 2018 Total gains (losses) recognized in net revenue (1) Total gains (losses) recognized in other comprehensive income Purchases / issues (2) Sales / redemptions (2) Settlements Foreign exchange movements Transfers into Level 3 (4)(5) Transfers out of Level 3 (5) Balance as of March 31, 2019 Assets: Trading assets and private equity and debt investments Equities ¥ 21 ¥ (3 ) ¥ — ¥ 5 ¥ (13 ) ¥ — ¥ 1 ¥ 5 ¥ (3 ) ¥ 13 Private equity and debt investments 3 (1 ) — 24 (2 ) — 0 2 — 26 Japanese agency and municipal securities 1 0 — 1 (1 ) — — — — 1 Foreign government, agency and municipal securities 6 0 — 15 (16 ) — 0 3 (3 ) 5 Bank and corporate debt securities and loans for trading 139 8 — 99 (100 ) — 4 63 (53 ) 160 Commercial mortgage-backed securities (“CMBS”) 2 0 — 1 (2 ) — 0 1 — 2 Residential mortgage-backed securities (“RMBS”) 0 0 — 9 0 — 0 — (6 ) 3 Real estate-backed securities 63 (2 ) — 217 (212 ) — 3 — — 69 Collateralized debt obligations (“CDOs”) and other 24 4 — 56 (68 ) — 1 7 (5 ) 19 Investment trust funds and other 1 0 — 4 (4 ) — 0 — — 1 Total trading assets and private equity and debt investments 260 6 — 431 (418 ) — 9 81 (70 ) 299 Derivatives, net (3) Equity contracts (1 ) (2 ) — — — (2 ) 0 (7 ) 4 (8 ) Interest rate contracts (53 ) (25 ) — — — 0 0 10 14 (54 ) Credit contracts 2 (6 ) — — — (4 ) 0 (1 ) 1 (8 ) Foreign exchange contracts 27 (13 ) — — — 3 1 (1 ) 3 20 Commodity contracts — 0 — — — 0 0 — — 0 Total derivatives, net (25 ) (46 ) — — — (3 ) 1 1 22 (50 ) Subtotal ¥ 235 ¥ (40 ) ¥ — ¥ 431 ¥ (418 ) ¥ (3 ) ¥ 10 ¥ 82 ¥ (48 ) ¥ 249 Loans and receivables ¥ 70 ¥ 0 ¥ — ¥ 53 ¥ (27 ) ¥ — ¥ 3 ¥ 37 ¥ (7 ) ¥ 129 Collateralized agreements 5 0 — — — — 0 28 — 33 Other assets Other 169 (11 ) — 6 (3 ) — 5 0 — 166 Total ¥ 479 ¥ (51 ) ¥ — ¥ 490 ¥ (448 ) ¥ (3 ) ¥ 18 ¥ 147 ¥ (55 ) ¥ 577 Liabilities: Trading liabilities Equities ¥ 1 ¥ 0 ¥ — ¥ 20 ¥ (20 ) ¥ — ¥ 0 ¥ 0 ¥ (1 ) ¥ 0 Foreign government, agency and municipal securities — 0 — 1 (1 ) — 0 0 — 0 Bank and corporate debt securities 0 0 — 0 0 — 0 0 0 0 Collateralized debt obligations (“CDOs”) and other 0 0 — 0 0 — 0 — — — Investment trust funds and other 0 0 — 0 0 — 0 0 0 — Total trading liabilities ¥ 1 ¥ 0 ¥ — ¥ 21 ¥ (21 ) ¥ — ¥ 0 ¥ 0 ¥ (1 ) ¥ 0 Short-term borrowings 17 (2 ) 0 39 (27 ) — 0 25 (25 ) 31 Payables and (1 ) (1 ) — 0 0 — — — — 0 Collateralized financing 3 — — — (3 ) — 0 — — — Long-term borrowings 429 (23 ) 2 194 (99 ) — 0 75 (85 ) 535 Other liabilities 1 0 — 0 (1 ) — 0 0 — 0 Total ¥ 450 ¥ (26 ) ¥ 2 ¥ 254 ¥ (151 ) ¥ — ¥ 0 ¥ 100 ¥ (111 ) ¥ 566 Billions of yen Year ended March 31, 2020 Balance as of April 1, 2019 Total gains (losses) recognized in net revenue (1) Total gains (losses) recognized in other comprehensive income Purchases / issues (2) Sales / redemptions (2) Settlements Foreign exchange movements Transfers into Level 3 (4)(5) Transfers out of Level 3 (5) Balance as of March 31, 2020 Assets: Trading assets and private equity and debt investments Equities ¥ 13 ¥ (1 ) ¥ — ¥ 8 ¥ (4 ) ¥ — ¥ 0 ¥ 1 ¥ (3 ) ¥ 14 Private equity and debt investments 26 1 — 8 (3 ) — (1 ) — — 31 Japanese agency and municipal securities 1 0 — 1 0 — — — — 2 Foreign government, agency and municipal securities 5 0 — 27 (26 ) — 0 5 (3 ) 8 Bank and corporate debt securities and loans for 160 (2 ) — 158 (154 ) — (7 ) 113 (40 ) 228 Commercial mortgage-backed securities (“CMBS”) 2 (1 ) — 1 (1 ) — — 0 0 1 Residential mortgage-backed securities (“RMBS”) 3 (8 ) — 93 (53 ) — 0 28 (1 ) 62 Real estate-backed securities 69 4 — 197 (175 ) — (1 ) — — 94 Collateralized debt obligations (“CDOs”) and other 19 (21 ) — 184 (167 ) — (1 ) 25 (7 ) 32 Investment trust funds and other 1 0 — 13 (14 ) — 0 0 0 0 Total trading assets and private equity and debt investments 299 (28 ) — 690 (597 ) — (10 ) 172 (54 ) 472 Derivatives, net (3) Equity contracts (8 ) 29 — — — (6 ) 0 16 (12 ) 19 Interest rate contracts (54 ) 9 — — — (9 ) 0 (1 ) 1 (54 ) Credit contracts (8 ) 7 — — — 2 0 (12 ) 10 (1 ) Foreign exchange contracts 20 (22 ) — — — 8 (1 ) 0 2 7 Commodity contracts 0 0 — — — 0 0 — — — Total derivatives, net (50 ) 23 — — — (5 ) (1 ) 3 1 (29 ) Subtotal ¥ 249 ¥ (5 ) ¥ — ¥ 690 ¥ (597 ) ¥ (5 ) ¥ (11 ) ¥ 175 ¥ (53 ) ¥ 443 Loans and receivables ¥ 129 ¥ 0 ¥ — ¥ 163 ¥ (117 ) ¥ — ¥ (3 ) ¥ 93 ¥ (169 ) ¥ 96 Collateralized agreements 33 0 — — (27 ) — (1 ) 10 — 15 Other assets Other 166 (31 ) 0 43 (7 ) — (3 ) 0 — 168 Total ¥ 577 ¥ (36 ) ¥ 0 ¥ 896 ¥ (748 ) ¥ (5 ) ¥ (18 ) ¥ 278 ¥ (222 ) ¥ 722 Liabilities: Trading liabilities Equities ¥ 0 ¥ 0 ¥ — ¥ 0 ¥ 0 ¥ — ¥ 0 ¥ 0 ¥ 0 ¥ 0 Foreign government, agency and municipal securities 0 0 — — — — 0 — — 0 Bank and corporate debt securities 0 (1 ) — 1 (1 ) — 0 0 — 1 Collateralized debt obligations (“CDOs”) and other — 0 — 4 (3 ) — 0 — — 1 Investment trust funds and other — — — 0 0 — 0 0 — 0 Total trading liabilities ¥ 0 ¥ (1 ) ¥ — ¥ 5 ¥ (4 ) ¥ — ¥ 0 ¥ 0 ¥ 0 ¥ 2 Short-term borrowings 31 0 0 65 (58 ) — 0 7 (16 ) 29 Payables and deposits 0 0 — 6 0 — 0 0 (5 ) 1 Long-term borrowings 535 6 0 254 (291 ) — (1 ) 56 (138 ) 409 Other liabilities 0 (8 ) — 2 (10 ) — 0 — — 0 Total ¥ 566 ¥ (3 ) ¥ 0 ¥ 332 ¥ (363 ) ¥ — ¥ (1 ) ¥ 63 ¥ (159 ) ¥ 441 (1) Includes gains and losses reported primarily within Net gain on trading, Gain on private equity and debt investments, Gain (loss) on investments in equity securities, Revenue—Other Non-interest expenses—Other, Interest and dividends Interest expense (2) Amounts reported in Purchases / issues Sales / redemptions (3) Each derivative classification includes derivatives with multiple risk underlyings. For example, interest rate contracts include complex derivatives referencing interest rate risk as well as foreign exchange risk or other factors such as prepayment rates. Credit contracts include credit default swaps as well as derivatives referencing corporate and government debt securities. (4) Amounts of gains and losses on these transfers which were recognized in the period when the Transfers into Level 3 (5) Transfers into Level 3 Transfers out of Level 3 Quantitative and qualitative information regarding significant unobservable inputs |
Fair value, level 3 assets and liabilities measured on recurring basis, unrealized gains (losses) | Billions of yen March 31 2019 2020 Unrealized gains/(losses) (1) Assets: Trading assets and private equity and debt investments Equities ¥ (4 ) ¥ (2 ) Private equity and debt investments (1 ) 1 Japanese agency and municipal securities 0 0 Foreign government, agency and municipal securities 0 (1 ) Bank and corporate debt securities and loans for trading purposes 1 (5 ) Commercial mortgage-backed securities (“CMBS”) 0 (1 ) Residential mortgage-backed securities (“RMBS”) 0 (7 ) Real estate-backed securities 0 0 Collateralized debt obligations (“CDOs”) and other (4 ) (19 ) Investment trust funds and other 0 0 Total trading assets and private equity and debt investments (8 ) (34 ) Derivatives, net (2) Equity contracts (11 ) 36 Interest rate contracts (18 ) (19 ) Credit contracts (12 ) 2 Foreign exchange contracts (10 ) (24 ) Commodity contracts 0 — Total derivatives, net (51 ) (5 ) Subtotal ¥ (59 ) ¥ (39 ) Loans and receivables 0 (1 ) Collateralized agreements 0 0 Other assets Other (12 ) (20 ) Total ¥ (71 ) ¥ (60 ) Billions of yen March 31 2019 2020 Unrealized gains/(losses) (1) Liabilities : Trading liabilities Equities ¥ 0 ¥ 0 Foreign government, agency and municipal securities 0 0 Bank and corporate debt securities 0 (1 ) Collateralized debt obligations (“CDOs”) and other — 0 Total trading liabilities ¥ 0 ¥ (1 ) Short-term borrowings (1 ) 1 Payables and deposits (1 ) 0 Long-term borrowings (18 ) 19 Total ¥ (20 ) ¥ 19 (1) Includes gains and losses reported within Net gain on trading, Gain on private equity and debt investments Gain on investments in equity securities, Revenue—Other Non-interest expenses—Other, Interest and dividends Interest expense (2) Each derivative classification includes derivatives with multiple risk underlyings. For example, interest rate contracts include complex derivatives referencing interest rate risk as well as foreign exchange risk or other factors such as prepayment rates. Credit contracts include credit default swaps as well as derivatives referencing corporate and government debt securities. |
Information on investments where net asset value per share is calculated | Billions of yen March 31, 2019 Fair value Unfunded commitments (1) Redemption frequency (if currently eligible) (2) Redemption notice (3) Hedge funds ¥ 16 ¥ — Monthly Same day-90 Venture capital funds 2 2 — — Private equity funds 17 10 — — Real estate funds 3 1 — — Total ¥ 38 ¥ 13 Billions of yen March 31, 2020 Fair value Unfunded commitments (1) Redemption frequency (if currently eligible) (2) Redemption notice (3) Hedge funds ¥ 2 ¥ — Monthly Same day-90 Venture capital funds 3 3 — — Private equity funds 21 9 — — Real estate funds 6 1 — — Total ¥ 32 ¥ 13 (1) The contractual amount of any unfunded commitments Nomura is required to make to the entities in which the investment is held. (2) The range in frequency with which Nomura can redeem investments. (3) The range in notice period required to be provided before redemption is possible. |
Gains (losses) due to changes in fair value for financial instruments measured at fair value using fair value option | Billions of yen Year ended March 31 2018 2019 2020 Gains/(Losses) (1) Assets: Trading assets and private equity and debt investments (2) Trading assets ¥ 0 ¥ 0 ¥ 1 Private equity and debt investments (1 ) 1 (1 ) Loans and receivables (14 ) (2 ) 2 Collateralized agreements (3) 1 2 4 Other assets (2) 11 (26 ) (16 ) Total ¥ (3 ) ¥ (25 ) ¥ (10 ) Liabilities: Short-term borrowings (4) ¥ (1 ) ¥ 28 ¥ 64 Collateralized financing (3) 0 0 (2 ) Long-term borrowings (4)(5) (39 ) (38 ) 58 Other liabilities (6) (4 ) 3 2 Total ¥ (44 ) ¥ (7 ) ¥ 122 (1) Includes gains and losses reported primarily within Net gain on trading Revenue—Other (2) Includes equity investments that would have been accounted for under the equity method had Nomura not chosen to elect the fair value option. (3) Includes reverse repurchase and repurchase agreements. (4) Includes structured notes and other financial liabilities. (5) Includes secured financing transactions arising from transfers of financial assets which did not meet the criteria for sales accounting. (6) Includes unfunded written loan commitments. |
Schedule of impact of changes in its own creditworthiness on certain financial liabilities | Billions of Yen Year ended March 31 2019 2020 Changes recognized as a credit (debit) to other comprehensive income ¥ 25 ¥ 49 Credit (debit) amounts reclassified to earnings (1 ) (1 ) Cumulative credit (debit) balance recognized in accumulated other comprehensive income 32 80 |
Geographic allocations of trading assets related to government, agency, municipal securities | Billions of yen March 31, 2019 Japan U.S. EU & U . . Other Total (1) Government, agency and municipal securities ¥ 2,202 ¥ 1,723 ¥ 1,897 ¥ 579 ¥ 6,401 Billions of yen March 31, 2020 Japan U.S. EU & U . . Other Total (1) Government, agency and municipal securities ¥ 1,934 ¥ 1,889 ¥ 2,704 ¥ 672 ¥ 7,199 (1) Other than above, there were ¥318 billion and ¥321 billion of government, agency and municipal securities reported within Other assets—Non-trading debt securities |
Carrying values, fair values and classification within the fair value hierarchy for certain classes of financial instrument | Billions of yen March 31, 2019 (1) Fair value by level Carrying value Fair Level 1 Level 2 Level 3 Assets: Cash and cash equivalents ¥ 2,687 ¥ 2,687 ¥ 2,687 ¥ — ¥ — Time deposits 290 290 — 290 — Deposits with stock exchanges and other segregated cash 285 285 — 285 — Loans receivable (2) 2,542 2,541 — 1,941 600 Securities purchased under agreements to resell 13,195 13,195 — 13,162 33 Securities borrowed 4,112 4,111 — 4,111 — Total ¥ 23,111 ¥ 23,109 ¥ 2,687 ¥ 19,789 ¥ 633 Liabilities: Short-term borrowings ¥ 841 ¥ 841 ¥ — ¥ 811 ¥ 30 Deposits received at banks 1,393 1,393 — 1,393 — Securities sold under agreements to repurchase 15,037 15,037 — 15,037 — Securities loaned 1,230 1,230 — 1,230 — Long-term borrowings 7,916 7,931 12 7,353 566 Total ¥ 26,417 ¥ 26,432 ¥ 12 ¥ 25,824 ¥ 596 Billions of yen March 31, 2020 (1) Fair value by level Carrying value Fair Level 1 Level 2 Level 3 Assets: Cash and cash equivalents ¥ 3,192 ¥ 3,192 ¥ 3,192 ¥ — ¥ — Time deposits 309 309 — 309 — Deposits with stock exchanges and other segregated cash 374 374 — 374 — Loans receivable (2) 2,848 2,842 — 2,201 641 Securities purchased under agreements to resell 12,377 12,377 — 12,362 15 Securities borrowed 3,530 3,529 — 3,529 — Total ¥ 22,630 ¥ 22,623 ¥ 3,192 ¥ 18,775 ¥ 656 Liabilities: Short-term borrowings ¥ 1,487 ¥ 1,487 ¥ — ¥ 1,458 ¥ 29 Deposits received at banks 1,276 1,276 — 1,275 1 Securities sold under agreements to repurchase 16,349 16,349 — 16,349 — Securities loaned 961 962 — 962 — Other secured borrowings 718 718 — 718 — Long-term borrowings 7,776 7,733 2 7,263 468 Total ¥ 28,567 ¥ 28,525 ¥ 2 ¥ 28,025 ¥ 498 (1) Includes financial instruments which are carried at fair value on a recurring basis. (2) Carrying values are shown after deducting relevant allowances for credit losses. |
Derivative instruments and he_2
Derivative instruments and hedging activities (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Derivative Instruments and Hedging Activities [Abstract] | |
Significant concentration of exposures to credit risk in OTC derivatives | Billions of yen March 31, 2019 Gross fair value of derivative assets Impact of master netting agreements Impact of collateral Net exposure to credit risk Financial institutions ¥ 13,332 ¥ (11,602 ) ¥ (1,507 ) ¥ 223 Billions of yen March 31, 2020 Gross fair value of derivative assets Impact of master netting agreements Impact of collateral Net exposure to credit risk Financial institutions ¥ 17,711 ¥ (15,479 ) ¥ (1,707 ) ¥ 525 |
Volume of derivative activity in statement of financial position | Billions of yen March 31, 2019 Derivative assets Derivative liabilities Total Notional (1) Fair value Fair value (1) Derivatives used for trading and non-trading (2)(3) Equity contracts ¥ 45,721 ¥ 851 ¥ 920 Interest rate contracts 2,243,179 8,612 8,290 Credit contracts 35,343 533 464 Foreign exchange contracts 310,677 4,912 4,842 Commodity contracts 241 1 1 Total ¥ 2,635,161 ¥ 14,909 ¥ 14,517 Derivatives designated as hedging instruments: Interest rate contracts ¥ 1,002 ¥ 20 ¥ — Foreign exchange contracts 146 0 — Total ¥ 1,148 ¥ 20 ¥ — Total derivatives ¥ 2,636,309 ¥ 14,929 ¥ 14,517 Billions of yen March 31, 2020 Derivative assets Derivative liabilities Total Notional (1) Fair value Fair value (1) Derivatives used for trading and non-trading (2)(3) Equity contracts ¥ 47,976 ¥ 1,921 ¥ 2,008 Interest rate contracts 2,522,172 13,590 13,214 Credit contracts 36,155 407 457 Foreign exchange contracts 267,313 5,224 5,104 Commodity contracts 601 9 6 Total ¥ 2,874,217 ¥ 21,151 ¥ 20,789 Derivatives designated as hedging instruments: Interest rate contracts ¥ 1,064 ¥ 39 ¥ 0 Foreign exchange contracts 115 — 1 Total ¥ 1,179 ¥ 39 ¥ 1 Total derivatives ¥ 2,875,396 ¥ 21,190 ¥ 20,790 (1) Includes the amount of embedded derivatives bifurcated in accordance with ASC 815. (2) Each derivative classification includes derivatives referencing multiple risk components. For example, interest rate contracts include complex derivatives referencing interest rate risk as well as foreign exchange risk or other factors such as prepayment rates. Credit contracts include credit default swaps as well as derivatives referencing corporate and government securities. (3) As of March 31, 2019 and 2020, the amounts reported include derivatives used for non-trading |
Offsetting of derivatives instruments and related collateral amounts | Billions of yen Billions of yen March 31, 2019 March 31, 2020 Derivative assets Derivative liabilities (1) Derivative assets Derivative liabilities (1) Equity contracts OTC settled bilaterally ¥ 636 ¥ 611 ¥ 869 ¥ 875 Exchange-traded 215 309 1,052 1,133 Interest rate contracts OTC settled bilaterally 7,295 6,946 11,881 11,438 OTC centrally-cleared 1,327 1,341 1,692 1,758 Exchange-traded 10 3 56 18 Credit contracts OTC settled bilaterally 355 283 278 311 OTC centrally-cleared 176 178 126 132 Exchange-traded 2 3 3 14 Foreign exchange contracts OTC settled bilaterally 4,912 4,842 5,224 5,105 Commodity contracts OTC settled bilaterally — — 1 1 Exchange-traded 1 1 8 5 Total gross derivative balances (2) ¥ 14,929 ¥ 14,517 ¥ 21,190 ¥ 20,790 Less: Amounts offset in the consolidated balance sheets (3) (14,077 ) (13,710 ) (19,248 ) (18,987 ) Total net amounts reported on the face of the consolidated balance sheets (4) ¥ 852 ¥ 807 ¥ 1,942 ¥ 1,803 Billions of yen Billions of yen March 31, 2019 March 31, 2020 Derivative assets Derivative liabilities (1) Derivative assets Derivative liabilities (1) Less: Additional amounts not offset in the consolidated balance sheets (5) Financial instruments and non-cash ¥ (115) ¥ (86) ¥ (182 ) ¥ (125 ) Net amount ¥ 737 ¥ 721 ¥ 1,760 ¥ 1,678 (1) Includes the amount of embedded derivatives bifurcated in accordance with ASC 815. (2) Includes all gross derivative asset and liability balances irrespective of whether they are transacted under a master netting agreement or whether Nomura has obtained sufficient evidence of enforceability of the master netting agreement. As of March 31, 2019, the gross balance of derivative assets and derivative liabilities which are not documented under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥277 billion and ¥374 billion, respectively. As of March 31, 2020, the gross balance of such derivative assets and derivative liabilities was ¥1,013 billion and ¥1,046 billion, respectively. (3) Represents amounts offset through counterparty netting of derivative assets and liabilities as well as cash collateral netting against net derivatives under master netting and similar agreements for which Nomura has obtained sufficient evidence of enforceability in accordance with ASC 815. As of March 31, 2019, Nomura offset a total of ¥1,259 billion of cash collateral receivables against net derivative liabilities and ¥1,626 billion of cash collateral payables against net derivative assets. As of March 31, 2020, Nomura offset a total of ¥1,679 billion of cash collateral receivables against net derivative liabilities and ¥1,940 billion of cash collateral payables against net derivative assets. (4) Net derivative assets and net derivative liabilities are generally reported within Trading assets and private equity investments—Trading assets Trading liabilities Short-term borrowings Long-term borrowings (5) Represents amounts which are not permitted to be offset on the face of the consolidated balance sheets in accordance with ASC 210-20 |
Derivative amounts included in consolidated statements of income | The following table presents amounts included in the consolidated statements of income for the years ended March 31, 2018, 2019, 2020 related to derivatives used for trading and non-trading Billions of yen Year ended March 31 2018 2019 2020 Derivatives used for trading and non-trading (1)(2) Equity contracts ¥ 106 ¥ (32 ) ¥ 93 Interest rate contracts (257 ) 104 (192 ) Credit contracts 129 (19 ) (118 ) Foreign exchange contracts 49 (50 ) 57 Commodity contracts 22 10 (1 ) Total ¥ 49 ¥ 13 ¥ (161 ) (1) Each derivative classification includes derivatives referencing multiple risk components. For example, interest rates contracts include complex derivatives referencing interest rate risk as well as foreign exchange risk or other factors such as prepayment rates. Credit contracts include credit default swaps as well as derivatives referencing corporate and government securities. (2) Includes net gains (losses) on derivatives used for non-trading non-trading |
Schedule of carrying value hedged items | Line items in the statement of financial Billions of yen Carrying amount of the hedged liabilities Cumulative gains/(losses) of fair value hedging March 31, 2019 March 31, 2020 March 31, 2019 March 31, 2020 Long-term borrowings ¥ 1,019 ¥ 1,098 ¥ (13) ¥ (36) Total ¥ 1,019 ¥ 1,098 ¥ (13) ¥ (36) |
Fair value hedges | Billions of yen Year ended March 31 2018 2019 2020 Derivatives designated as hedging instruments: Interest rate contracts ¥ (1 ) ¥ 6 ¥ (26 ) Foreign exchange contracts 9 — — Total ¥ 8 ¥ 6 ¥ (26 ) Billions of yen Year ended March 31 2018 2019 2020 Hedged items: Long-term borrowings ¥ 1 ¥ (6 ) ¥ 26 Non-trading (9 ) — — Total ¥ (8 ) ¥ (6 ) ¥ 26 |
Net investment hedges | Billions of yen Year ended March 31 2018 2019 2020 Hedging instruments: Foreign exchange contracts ¥ (11 ) ¥ 7 ¥ 2 Total ¥ (11 ) ¥ 7 ¥ 2 (1) The portion of gains (losses) representing the amount of hedge ineffectiveness and the amount excluded from the assessment of hedge effectiveness are recognized within Revenue—Other |
Written credit derivatives and purchased credit protection | Billions of yen March 31, 2019 Maximum potential payout/Notional Notional Years to maturity Purchased credit protection Carrying value (Asset) / Liability (1) Total Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Single-name credit default swaps ¥ (47 ) ¥ 9,206 ¥ 2,346 ¥ 3,402 ¥ 2,469 ¥ 989 ¥ 6,555 Credit default indices (117 ) 5,735 612 1,644 2,849 630 4,330 Other credit risk related portfolio products 14 231 31 82 115 3 165 Credit-risk related options and swaptions — — — — — — — Total ¥ (150 ) ¥ 15,172 ¥ 2,989 ¥ 5,128 ¥ 5,433 ¥ 1,622 ¥ 11,050 Billions of yen March 31, 2020 Maximum potential payout/Notional Notional Years to maturity Purchased credit protection Carrying value (Asset) / Liability (1) Total Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Single-name credit default swaps ¥ 96 ¥ 8,018 ¥ 2,323 ¥ 2,238 ¥ 2,552 ¥ 905 ¥ 5,836 Credit default indices 18 8,064 721 2,455 4,179 709 6,364 Other credit risk related portfolio products 65 357 39 130 175 13 274 Credit-risk related options and swaptions 1 16 — — 16 — 16 Total ¥ 180 ¥ 16,455 ¥ 3,083 ¥ 4,823 ¥ 6,922 ¥ 1,627 ¥ 12,490 (1) Carrying value amounts are shown on a gross basis prior to cash collateral or counterparty netting. Asset balances represent positive fair value amounts caused by tightening of credit spreads of underlyings since inception of the credit derivative contracts. |
Written credit derivatives by external credit rating of underlying asset | Billions of yen March 31, 2019 Maximum potential payout/Notional AAA AA A BBB BB Other (1) Total Single-name credit default swaps ¥ 520 ¥ 915 ¥ 2,537 ¥ 3,411 ¥ 1,439 ¥ 384 ¥ 9,206 Credit default indices 35 72 1,582 2,663 1,068 315 5,735 Other credit risk related portfolio products — — 1 139 25 66 231 Credit-risk related options and swaptions — — — — — — — Total ¥ 555 ¥ 987 ¥ 4,120 ¥ 6,213 ¥ 2,532 ¥ 765 ¥ 15,172 Billions of yen March 31, 2020 Maximum potential payout/Notional AAA AA A BBB BB Other (1) Total Single-name credit default swaps ¥ 122 ¥ 1,683 ¥ 1,935 ¥ 2,643 ¥ 1,198 ¥ 437 ¥ 8,018 Credit default indices 24 153 2,211 4,027 1,318 331 8,064 Other credit risk related portfolio products — — 2 191 73 91 357 Credit-risk related options and swaptions — — — — 16 — 16 Total ¥ 146 ¥ 1,836 ¥ 4,148 ¥ 6,861 ¥ 2,605 ¥ 859 ¥ 16,455 (1) “Other” includes credit derivatives where the credit rating of the underlying reference asset is below investment grade or where a rating is unavailable. |
Revenue from services provide_2
Revenue from services provided to customers (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Revenues by types of service | The following table presents revenue earned by Nomura from providing services to customers by relevant line item in Nomura’s consolidated statement of income for the year ended March 31, 2019 and 2020. Millions of yen Year ended March 31 2019 2020 Commissions ¥ 293,069 ¥ 308,805 Fees from investment banking 101,521 103,222 Asset management and portfolio service fees 245,519 238,202 Other revenue 54,284 49,901 Total ¥ 694,393 ¥ 700,130 |
Customer contract receivables, customer contract assets and customer contract liabilities | The following table presents the balances of customer contract receivables, contract assets and contract liabilities in scope of ASC 606 as of March 31, 2019 and 2020. The amount of contract assets as of March 31, 2019 and 2020 were immaterial. Millions of yen March 31, 2019 March 31, 2020 Customer contract receivables ¥ 78,226 ¥ 103,557 Contract liabilities (1) 4,971 3,444 (1) Contract liabilities primarily rise from investment advisory services and recognized in connection with the term of the contract based on time elapsed. |
Collateralized transactions (Ta
Collateralized transactions (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Collateralized Transactions | |
Offsetting of the transactions in the consolidated balance sheets | Billions of yen March 31, 2019 Assets Liabilities Reverse repurchase agreements Securities borrowing transactions Repurchase agreements Securities lending transactions Total gross balance (1) ¥ 32,312 ¥ 4,087 ¥ 34,154 ¥ 1,512 Less: Amounts offset in the consolidated balance sheets (2) (19,117 ) — (19,117 ) — Total net amounts of reported on the face of the consolidated balance sheets (3) ¥ 13,195 ¥ 4,087 ¥ 15,037 ¥ 1,512 Less: Additional amounts not offset in the consolidated balance sheets (4) Financial instruments and non-cash (11,445 ) (2,580 ) (10,443 ) (1,198 ) Cash collateral (26 ) — — — Net amount ¥ 1,724 ¥ 1,507 ¥ 4,594 ¥ 314 Billions of yen March 31, 2020 Assets Liabilities Reverse repurchase agreements Securities borrowing transactions Repurchase agreements Securities lending transactions Total gross balance (1) ¥ 32,425 ¥ 3,508 ¥ 36,397 ¥ 1,252 Less: Amounts offset in the consolidated balance sheets (2) (20,048 ) — (20,048 ) — Total net amounts of reported on the face of the consolidated balance sheets (3) ¥ 12,377 ¥ 3,508 ¥ 16,349 ¥ 1,252 Less: Additional amounts not offset in the consolidated balance sheets (4) Financial instruments and non-cash (10,507 ) (2,381 ) (8,980 ) (1,067 ) Cash collateral (5 ) — (40 ) — Net amount ¥ 1,865 ¥ 1,127 ¥ 7,329 ¥ 185 (1) Includes all recognized balances irrespective of whether they are transacted under a master netting agreement or whether Nomura has obtained sufficient evidence of enforceability of the master netting agreement. Amounts include transactions carried at fair value through election of the fair value option. As of March 31, 2019, the gross balance of reverse repurchase agreements and repurchase agreements which were not transacted under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥749 billion and ¥3,575 billion, respectively. As of March 31, 2019, the gross balance of securities borrowing transactions and securities lending transactions which were not transacted under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥1,398 billion and ¥209 billion, respectively. As of March 31, 2020, the gross balance of reverse repurchase agreements and repurchase agreements which were not transacted under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥627 billion and ¥6,356 billion, respectively. As of March 31, 2020, the gross balance of securities borrowing transactions and securities lending transactions which were not transacted under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥998 billion and ¥138 billion, respectively. (2) Represents amounts offset through counterparty netting under master netting and similar agreements for which Nomura has obtained sufficient evidence of enforceability in accordance with ASC 210-20. (3) Reverse repurchase agreements and securities borrowing transactions are reported within Collateralized agreements—Securities purchased under agreements to resell Collateralized agreements—Securities borrowed Collateralized financing—Securities sold under agreements to repurchase Collateralized financing—Securities loaned Other liabilities (4) Represents amounts which are not permitted to be offset on the face of the balance sheet in accordance with ASC 210-20 but which provide Nomura with the right of offset in the event of counterparty default. Amounts relating to agreements where Nomura has not yet obtained sufficient evidence of enforceability of such offsetting rights are excluded. |
Maturity analysis of repurchase agreements and securities lending transactions | Billions of yen March 31, 2020 Overnight and open (1) Up to 30 days 30 - 90 days 90 days - Greater than 1 year Total Repurchase agreements ¥ 11,004 ¥ 21,505 ¥ 2,570 ¥ 983 ¥ 335 ¥ 36,397 Securities lending transactions 650 144 227 231 0 1,252 Total gross recognized liabilities (2) ¥ 11,654 ¥ 21,649 ¥ 2,797 ¥ 1,214 ¥ 335 ¥ 37,649 (1) Open transactions do not have an explicit contractual maturity date and are terminable on demand by Nomura or the counterparty. (2) Repurchase agreements and securities lending transactions are reported within Collateralized financing—Securities sold under agreements to repurchase Collateralized financing—Securities loaned Other liabilities |
Securities transferred in repurchase agreements and securities lending transactions | Billions of yen March 31, 2020 Repurchase agreements Securities lending transactions Total Equities and convertible securities ¥ 132 ¥ 1,032 ¥ 1,164 Japanese government, agency and municipal securities 607 — 607 Foreign government, agency and municipal securities 29,378 5 29,383 Bank and corporate debt securities 1,821 178 1,999 Commercial mortgage-backed securities (“CMBS”) 26 — 26 Residential mortgage-backed securities (“RMBS”) (1) 4,162 — 4,162 Collateralized debt obligations (“CDOs”) and other 265 — 265 Investment trust funds and other 6 37 43 Total gross recognized liabilities (2) ¥ 36,397 ¥ 1,252 ¥ 37,649 (1) Includes ¥4,021 billion of U.S. government sponsored agency mortgage pass through securities and collateralized mortgage obligations. (2) Repurchase agreements and securities lending transactions are reported within Collateralized financing—Securities sold under agreements to repurchase Collateralized financing—Securities loaned Other liabilities |
Fair value of securities received as collateral available to sell or repledge | Billions of yen March 31 2019 2020 The fair value of securities received as collateral, securities borrowed as collateral and securities borrowed without collateral where Nomura is permitted by contract or custom to sell or repledge the securities ¥ 46,924 ¥ 46,439 The portion of the above that has been sold (reported within Trading liabilities 38,551 38,054 |
Assets owned, pledged as collateral | Millions of yen March 31 2019 2020 Trading assets: Equities and convertible securities ¥ 135,927 ¥ 133,066 Government and government agency securities 984,429 1,183,457 Bank and corporate debt securities 61,547 59,734 Commercial mortgage-backed securities (“CMBS”) 0 0 Residential mortgage-backed securities (“RMBS”) 2,535,244 2,826,613 Collateralized debt obligations (“CDOs”) and other (1) 42,607 12,406 Investment trust funds and other 14,926 6,439 ¥ 3,774,680 ¥ 4,221,715 Non-trading 1,031 29 Investments in and advances to affiliated companies ¥ 501 ¥ 2,760 (1) Includes CLOs and ABS such as those secured on credit card loans, auto loans and student loans. |
Assets subject to lien | Millions of yen March 31 2019 2020 Loans and receivables ¥ 42,544 ¥ 55,051 Trading assets and private equity and debt investments 1,589,483 1,393,517 Office buildings, land, equipment and facilities 5,371 5,258 Non-trading 142,092 149,991 Other 151 77 ¥ 1,779,641 ¥ 1,603,894 |
Securitizations and Variable _2
Securitizations and Variable Interest Entities (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Securitizations and Variable Interest Entities [Abstract] | |
Fair value of retained interests | Billions of yen March 31, 2019 Level 1 Level 2 Level 3 Total Investment grade Other Government, agency and municipal securities ¥ — ¥ 138 ¥ — ¥ 138 ¥ 138 ¥ 0 Bank and corporate debt securities — — — — — — CMBS and RMBS — 0 0 0 0 0 Total ¥ — ¥ 138 ¥ 0 ¥ 138 ¥ 138 ¥ 0 Billions of yen March 31, 2020 Level 1 Level 2 Level 3 Total Investment grade Other Government, agency and municipal securities ¥ — ¥ 158 ¥ — ¥ 158 ¥ 158 ¥ — Bank and corporate debt securities — — — — — — CMBS and RMBS — — 5 5 0 5 Total ¥ — ¥ 158 ¥ 5 ¥ 163 ¥ 158 ¥ 5 |
Type and carrying value of financial assets | Billions of yen March 31 2019 2020 Assets Trading assets Loans ¥ 15 ¥ 45 Liabilities Long-term borrowings ¥ 15 ¥ 45 |
Classification of consolidated VIEs' assets and liabilities | Billions of yen March 31 2019 2020 Consolidated VIE assets Cash and cash equivalents ¥ 20 ¥ 10 Trading assets Equities 780 645 Debt securities 426 454 CMBS and RMBS 43 43 Investment trust funds and other 5 0 Derivatives 17 19 Private equity and debt investments 2 11 Office buildings, land, equipment and facilities 55 15 Other 71 24 Total ¥ 1,419 ¥ 1,221 Consolidated VIE liabilities Trading liabilities Derivatives 23 19 Borrowings Short-term borrowings 151 117 Long-term borrowings 884 830 Other 3 4 Total ¥ 1,061 ¥ 970 |
Carrying amount of assets and liabilities of unconsolidated VIEs | Billions of yen March 31, 2019 Carrying amount of variable interests Maximum exposure to loss to unconsolidated VIEs Assets Liabilities Trading assets and liabilities Equities ¥ 29 ¥ — ¥ 29 Debt securities 109 — 109 CMBS and RMBS 2,654 — 2,654 Investment trust funds and other 153 — 153 Private equity and debt investments 12 — 12 Loans 593 — 593 Other 11 — 11 Commitments to extend credit and other guarantees — — 84 Total ¥ 3,561 ¥ — ¥ 3,645 Billions of yen March 31, 2020 Carrying amount of variable interests Maximum exposure to loss to unconsolidated VIEs Assets Liabilities Trading assets and liabilities Equities ¥ 35 ¥ — ¥ 35 Debt securities 73 — 73 CMBS and RMBS 3,631 — 3,631 Investment trust funds and other 170 — 170 Private equity and debt investments 11 — 11 Loans 835 — 835 Other 11 — 11 Commitments to extend credit and other guarantees — — 84 Total ¥ 4,766 ¥ — ¥ 4,850 |
Financing receivables (Tables)
Financing receivables (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Financing Receivables [Abstract] | |
Summary of loans receivable reported within loans receivable or investments in and advances to affiliated companies | Millions of yen March 31, 2019 Carried at amortized cost Carried at fair value (1) Total Loans receivable Loans at banks ¥ 565,603 ¥ — ¥ 565,603 Short-term secured margin loans 334,389 5,088 339,477 Inter-bank money market loans 1,699 — 1,699 Corporate loans 977,942 659,497 1,637,439 Total loans receivable ¥ 1,879,633 ¥ 664,585 ¥ 2,544,218 Total ¥ 1,879,633 ¥ 664,585 ¥ 2,544,218 Millions of yen March 31, 2020 Carried at amortized cost Carried at fair value (1) Total Loans receivable Loans at banks ¥ 521,715 ¥ — ¥ 521,715 Short-term secured margin loans 296,833 8,905 305,738 Inter-bank money market loans 865 — 865 Corporate loans 1,232,851 796,236 2,029,087 Total loans receivable ¥ 2,052,264 ¥ 805,141 ¥ 2,857,405 Total ¥ 2,052,264 ¥ 805,141 ¥ 2,857,405 (1) Includes loans receivable and loan commitments carried at fair value through election of the fair value option. |
Changes in allowance for credit losses | Millions of yen Year ended March 31, 2018 Allowance for credit losses against loans Allowance for credit losses against receivables other than loans Total allowance for doubtful accounts Loans at banks Short-term secured margin loans Corporate loans Subtotal Opening balance ¥ 968 ¥ — ¥ 473 ¥ 1,441 ¥ 2,110 ¥ 3,551 Provision for credit losses 172 — (26 ) 146 24 170 Charge-offs 0 — — 0 — 0 Other (1) — — (30 ) (30 ) (177 ) (207 ) Ending balance ¥ 1,140 ¥ — ¥ 417 ¥ 1,557 ¥ 1,957 ¥ 3,514 Millions of yen Year ended March 31, 2019 Allowance for credit losses against loans Allowance for credit losses against receivables other than loans Total allowance for doubtful accounts Loans at banks Short-term secured margin loans Corporate loans Subtotal Opening balance ¥ 1,140 ¥ — ¥ 417 ¥ 1,557 ¥ 1,957 ¥ 3,514 Provision for credit losses 7 364 434 805 30 835 Charge-offs (95 ) — (0 ) (95 ) (102 ) (197 ) Other (1) — 6 17 23 (6 ) 17 Ending balance ¥ 1,052 ¥ 370 ¥ 868 ¥ 2,290 ¥ 1,879 ¥ 4,169 Millions of yen Year ended March 31, 2020 Allowance for credit losses against loans Allowance for credit losses against receivables other than loans Total allowance for doubtful accounts Loans at banks Short-term secured margin loans Corporate loans Subtotal Opening balance ¥ 1,052 ¥ 370 ¥ 868 ¥ 2,290 ¥ 1,879 ¥ 4,169 Provision for credit losses 512 — 7,125 7,637 1,451 9,088 Charge-offs — — — — (162 ) (162 ) Other (1) — (18 ) (49 ) (67 ) (16 ) (83 ) Ending balance ¥ 1,564 ¥ 352 ¥ 7,944 ¥ 9,860 ¥ 3,152 ¥ 13,012 (1) Includes the effect of foreign exchange movements. |
Schedule of allowance for credit losses against loans and loans by impairment methodology and type of loans | Millions of yen March 31, 2019 Loans at banks Short-term secured margin loans Inter-bank money market loans Corporate loans Total Allowance by impairment methodology Evaluated individually ¥ — ¥ 370 ¥ — ¥ 868 ¥ 1,238 Evaluated collectively 1,052 — — — 1,052 Total allowance for credit losses ¥ 1,052 ¥ 370 ¥ — ¥ 868 ¥ 2,290 Loans by impairment methodology Evaluated individually ¥ 2,792 ¥ 166,148 ¥ 1,699 ¥ 976,096 ¥ 1,146,735 Evaluated collectively 562,811 168,241 — 1,846 732,898 Total loans ¥ 565,603 ¥ 334,389 ¥ 1,699 ¥ 977,942 ¥ 1,879,633 Millions of yen March 31, 2020 Loans at banks Short-term secured margin loans Inter-bank money market loans Corporate loans Total Allowance by impairment methodology Evaluated individually ¥ — ¥ 352 ¥ — ¥ 7,944 ¥ 8,296 Evaluated collectively 1,564 — — — 1,564 Total allowance for credit losses ¥ 1,564 ¥ 352 ¥ — ¥ 7,944 ¥ 9,860 Loans by impairment methodology Evaluated individually ¥ 3,120 ¥ 147,364 ¥ 865 ¥ 1,232,681 ¥ 1,384,030 Evaluated collectively 518,595 149,469 — 170 668,234 Total loans ¥ 521,715 ¥ 296,833 ¥ 865 ¥ 1,232,851 ¥ 2,052,264 |
Analysis of each class of loans not carried at fair value using internal ratings or equivalent credit quality indicators | Millions of yen March 31, 2019 AAA-BBB BB-CCC CC-D Others (1) Total Secured loans at banks ¥ 149,048 ¥ 127,309 ¥ — ¥ 54,545 ¥ 330,902 Unsecured loans at banks 233,201 1,500 — — 234,701 Short-term secured margin loans — — — 334,389 334,389 Unsecured inter-bank money market loans 1,699 — — — 1,699 Secured corporate loans 474,305 439,156 — 4,025 917,486 Unsecured corporate loans 16,467 311 — 43,678 60,456 Total ¥ 874,720 ¥ 568,276 ¥ — ¥ 436,637 ¥ 1,879,633 Millions of yen March 31, 2020 AAA-BBB BB-CCC CC-D Others (1) Total Secured loans at banks ¥ 167,886 ¥ 169,335 ¥ — ¥ 52,392 ¥ 389,613 Unsecured loans at banks 130,649 1,453 — — 132,102 Short-term secured margin loans — — — 296,833 296,833 Unsecured inter-bank money market loans 865 — — — 865 Secured corporate loans 689,801 415,742 — 17,537 1,123,080 Unsecured corporate loans 6,176 18,434 — 85,161 109,771 Total ¥ 995,377 ¥ 604,964 ¥ — ¥ 451,923 ¥ 2,052,264 (1) Relate to collateralized exposures where a specified ratio of LTV is maintained. |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Leases [Abstract] | |
Types of assets which Nomura leases under operating leases | Millions of yen March 31 2019 2020 Cost Accumulated depreciation Net carrying amount Cost Accumulated depreciation Net carrying amount Real estate (1) ¥ 2,771 ¥ (1,498 ) ¥ 1,273 ¥ 354 ¥ (285 ) ¥ 69 Aircraft 55,130 (310 ) 54,820 16,071 (648 ) 15,423 Total ¥ 57,901 ¥ (1,808 ) ¥ 56,093 ¥ 16,425 ¥ (933 ) ¥ 15,492 (1) Cost, accumulated depreciation and net carrying amounts include amounts relating to real estate utilized by Nomura. |
Schedule of future minimum lease payments to be received on noncancelable operating leases | Millions of yen March 31, 2020 Minimum lease payments to be received Years of receipt Less than 1 year ¥ 1,308 1 to 2 years 1,308 2 to 3 years 1,270 3 to 4 years 1,243 4 to 5 years 1,243 More than 5 years 7,638 Total ¥ 14,010 |
Lease expense | Millions of yen Year ended March 31, 2020 Lease expense: Operating lease costs ¥ 48,475 Other income and expenses: Gross sublease income (1) ¥ 5,377 (1) Gross sublease income represents income from subleases separate from lease payments made by Nomura on the head lease as lessee. |
Cash payments made by Nomura as lessee | Millions of yen Year ended March 31, 2020 Operating cash flows ¥ 47,212 ROU assets recognized in connection with new operating leases ¥ 18,026 |
Schedule of Lessee operating lease liability maturity | Millions of yen March 31, 2020 Operating leases Years of payment Less than 1 year ¥ 41,270 1 to 2 years 31,087 2 to 3 years 25,262 3 to 4 years 23,081 4 to 5 years 20,670 More than 5 years 74,546 Total undiscounted lease payments ¥ 215,916 Less: Impact of discounting (23,756 ) Lease liabilities as reported in the consolidated balance sheets ¥ 192,160 |
Weighted-average discount rate used to measure lease liabilities and weighted-average remaining lease term | March 2020 Operati ng leases Weighted-average discount rate used to measure lease liabilities 2.2% Weighted-average remaining lease term 7.7 years |
Other assets-Other _ Other li_2
Other assets-Other / Other liabilities (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Other assets-Other / Other liabilities [Abstract] | |
Schedule of Other assets-Other and Other liabilities | Millions of yen March 31 2019 2020 Other assets—Other: Securities received as collateral ¥ 282,656 ¥ 290,269 Goodwill and other intangible assets 19,792 17,783 Deferred tax assets net 15,026 13,431 Investments in equity securities for other than operating purposes (1) 175,015 141,855 Prepaid expenses 14,544 16,262 Other 241,058 347,422 Total ¥ 748,091 ¥ 827,022 Other liabilities: Obligation to return securities received as collateral ¥ 282,656 ¥ 290,269 Accrued income taxes 11,898 16,362 Other accrued expenses and provisions 401,408 396,560 Other (2) 162,905 331,257 Total ¥ 858,867 ¥ 1,034,448 (1) Includes marketable and non-marketable comprise Revenue—Other (2) As a result of adopting ASU 2016-02 as of April 1, 2019, operating lease liabilities are presented through Other liabilities—Other |
Schedule of changes in goodwill within Other assets-Other | Millions of yen Year ended March 31, 2019 Beginning of year Changes during year End of year Gross carrying amount Accumulated Impairment Net amount Acquisition Impairment (2) Other (1) Gross carrying amount Accumulated Impairment Net amount Wholesale ¥ 89,492 ¥ (11,442 ) ¥ 78,050 ¥ — ¥ (81,372 ) ¥ 3,322 ¥ 92,814 ¥ (92,814 ) ¥ — Other 473 — 473 — — 1 474 — 474 Total ¥ 89,965 ¥ (11,442 ) ¥ 78,523 ¥ — ¥ (81,372 ) ¥ 3,323 ¥ 93,288 ¥ (92,814 ) ¥ 474 Millions of yen Year ended March 31, 2020 Beginning of year Changes during year End of year Gross carrying amount Accumulated Impairment Net amount Acquisition Impairment Other (1) Gross carrying amount Accumulated Impairment Net amount Wholesale ¥ 92,814 ¥ (92,814 ) ¥ — ¥ — ¥ — ¥ — ¥ 92,814 ¥ (92,814 ) ¥ — Other 474 — 474 — — (2 ) 472 — 472 Total ¥ 93,288 ¥ (92,814 ) ¥ 474 ¥ — ¥ — ¥ (2 ) ¥ 93,286 ¥ (92,814 ) ¥ 472 (1) Includes currency translation adjustments. (2) For the year ended March 31, 2019, Nomura recognized impairment losses on goodwill of ¥81,372 million within the Wholesale segment. Nomura performed an impairment test based on Wholesale performance and changes in the operating environment, and impaired goodwill within the Wholesale segment. As a result, the balance of goodwill within the Wholesale segment as of March 31, 2019 was ¥nil. These impairment losses were recorded within Non-interest expense—Other |
Schedule of finite-lived intangible assets by type | Millions of yen March 31, 2019 March 31, 2020 Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Client relationships ¥ 64,381 ¥ (54,686 ) ¥ 9,695 ¥ 63,331 ¥ (55,342 ) ¥ 7,989 Other 1,050 (280 ) 770 999 (373 ) 626 Total ¥ 65,431 ¥ (54,966 ) ¥ 10,465 ¥ 64,330 ¥ (55,715 ) ¥ 8,615 |
Estimated amortization expenses for next five years | Millions of yen Year ending March 31 Estimated amortization expense 2021 ¥ 4,050 2022 3,296 2023 181 2024 177 2025 174 |
Borrowings (Tables)
Borrowings (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Borrowings [Abstract] | |
Short-term and long-term borrowings | Millions of yen March 31 2019 2020 Short-term borrowings (1) Commercial paper ¥ 313,000 ¥ 525,124 Bank borrowings 77,101 565,130 Other 451,657 396,479 Total ¥ 841,758 ¥ 1,486,733 Long-term borrowings: Long-term borrowings from banks and other financial institutions (2) ¥ 3,109,606 ¥ 2,929,313 Bonds and notes issued (3) Fixed-rate obligations: Japanese yen denominated 925,215 832,589 Non-Japanese 1,048,497 1,376,346 Floating-rate obligations: Japanese yen denominated 848,470 744,275 Non-Japanese 265,154 242,612 Index / Equity-linked obligations: Japanese yen denominated 978,438 899,765 Non-Japanese 715,891 696,041 4,781,665 4,791,628 Subtotal 7,891,271 7,720,941 Trading balances of secured borrowings 24,498 54,724 Total ¥ 7,915,769 ¥ 7,775,665 (1) Includes secured borrowings of ¥173,690 million as of March 31, 2019 and ¥170,290 million as of March 31, 2020. (2) Includes secured borrowings of ¥65,517 million as of March 31, 2019 and ¥72,543 million as of March 31, 2020. (3) Includes secured borrowings of ¥910,224 million as of March 31, 2019 and ¥774,319 million as of March 31, 2020. |
Long-term borrowings | Millions of yen March 31 2019 2020 Debt issued by the Company ¥ 2,869,376 ¥ 2,873,634 Debt issued by subsidiaries—guaranteed by the Company 2,590,768 2,541,554 Debt issued by subsidiaries—not guaranteed by the Company (1) 2,455,625 2,360,477 Total ¥ 7,915,769 ¥ 7,775,665 (1) Includes trading balances of secured borrowings. |
Effective weighted-average interest rates of borrowings | March 31 2019 2020 Short-term borrowings 1.00 % 0.72 % Long-term borrowings 1.33 % 1.17 % Fixed-rate obligations 1.28 % 1.11 % Floating-rate obligations 1.57 % 1.37 % Index / Equity-linked obligations 0.86 % 0.80 % |
Maturities of long-term borrowings | Year ending March 31 Millions of yen 2021 ¥ 778,008 2022 560,085 2023 664,173 2024 618,905 2025 1,026,748 2026 and thereafter 4,073,022 Subtotal 7,720,941 Trading balances of secured borrowings 54,724 Total ¥ 7,775,665 |
Earnings per share (Tables)
Earnings per share (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Earnings Per Share [Abstract] | |
Summary of amounts and numbers used in calculation of net income attributable to NHI shareholders per share (basic and diluted) | Millions of yen except per share data presented in yen Year ended March 31 2018 2019 2020 Basic— Net income (loss) attributable to NHI shareholders ¥ 219,343 ¥ (100,442 ) ¥ 216,998 Weighted average number of shares outstanding 3,474,593,441 3,359,564,840 3,202,369,845 Net income (loss) attributable to NHI shareholders per share ¥ 63.13 ¥ (29.90 ) ¥ 67.76 Diluted — Net income (loss) attributable to NHI shareholders ¥ 219,266 ¥ (100,525 ) ¥ 216,890 Weighted average number of shares outstanding 3,543,602,532 3,359,566,740 3,276,510,404 Net income (loss) attributable to NHI shareholders per share ¥ 61.88 ¥ (29.92 ) ¥ 66.20 |
Employee benefit plans (Tables)
Employee benefit plans (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Employee Benefit Plans [Abstract] | |
Net periodic benefit cost for defined benefit plans | Millions of yen Year ended March 31 2018 2019 2020 Service cost ¥ 9,565 ¥ 11,270 ¥ 12,079 Interest cost 2,258 2,180 1,766 Expected return on plan assets (6,066 ) (6,068 ) (6,038 ) Amortization of net actuarial losses 2,979 3,831 5,654 Amortization of prior service cost (1,061 ) (1,059 ) (1,137 ) Net periodic benefit cost ¥ 7,675 ¥ 10,154 ¥ 12,324 |
Reconciliation of changes in projected benefit obligation and fair value of plan assets | Millions of yen As of or for the year 2019 2020 Change in projected benefit obligation: Projected benefit obligation at beginning of year ¥ 287,983 ¥ 315,423 Service cost 11,270 12,079 Interest cost 2,180 1,766 Actuarial gain 25,855 (5,642 ) Benefits paid (11,953 ) (13,301 ) Amendments of pension benefit plans — (6,818 ) Acquisition, divestitures and other 88 16 Projected benefit obligation at end of year ¥ 315,423 ¥ 303,523 Change in plan assets: Fair value of plan assets at beginning of year ¥ 234,050 ¥ 232,885 Actual return on plan assets 3,574 (2,934 ) Employer contributions 4,484 5,584 Benefits paid (9,223 ) (9,791 ) Fair value of plan assets at end of year ¥ 232,885 ¥ 225,744 Funded status at end of year (82,538 ) (77,779 ) Amounts recognized in the consolidated balance sheets ¥ (82,538 ) ¥ (77,779 ) |
Projected benefit obligation, accumulated benefit obligation and fair value of plan assets for pension plans with ABO and PBO in excess of plan assets | Millions of yen March 31 2019 2020 Plans with ABO in excess of plan assets: PBO ¥ 82,538 ¥ 77,779 ABO 82,538 77,779 Fair value of plan assets — — Plans with PBO in excess of plan assets: PBO ¥ 82,538 ¥ 77,779 ABO 82,538 77,779 Fair value of plan assets — — |
Amounts in accumulated other comprehensive income, pre-tax, that have not yet been recognized as components of net periodic benefit cost | Millions of yen For the year ended March 31, 2020 Net actuarial loss ¥ 107,098 Net prior service cost (11,281 ) Total ¥ 95,817 |
Amounts in accumulated other comprehensive income, pre-tax, expected to be recognized as components of net periodic benefit cost over next fiscal year | Millions of yen For the year ending March 31, 2021 Net actuarial loss ¥ 5,486 Net prior service cost (1,601 ) Total ¥ 3,885 |
Schedule of weighted-average assumptions used to determine PBO | March 31 2019 2020 Discount rate 0.6 % 0.6 % Rate of increase in compensation levels 1.6 % 0.3 % |
Weighted-average assumptions used to determine net periodic benefit costs | Year ended March 31 2018 2019 2020 Discount rate 0.9 % 0.8 % 0.6 % Rate of increase in compensation levels 2.5 % 1.7 % 1.6 % Expected long-term rate of return on plan assets 2.6 % 2.6 % 2.6 % |
Information about plan assets at fair value | Millions of yen March 31, 2019 Level 1 Level 2 Level 3 Balance as of March 31, Pension plan assets: Equities ¥ 21,991 ¥ — ¥ — ¥ 21,991 Private equity and pooled investments (1) — 9,145 3,823 12,968 Japanese government securities 25,980 — — 25,980 Foreign government, agency and municipal securities — 22 — 22 Bank and corporate debt securities 2,566 2,082 — 4,648 Investment trust funds and other (2)(3) — 6,070 50,560 56,630 Life insurance company general accounts — 64,437 — 64,437 Other assets — 39,748 — 39,748 Total ¥ 50,537 ¥ 121,504 ¥ 54,383 ¥ 226,424 Millions of yen March 31, 2020 Level 1 Level 2 Level 3 Balance as of March 31, Pension plan assets: Equities ¥ — ¥ — ¥ — ¥ — Private equity and pooled investments (1) — 1,901 23,465 25,366 Japanese government securities 23,464 — — 23,464 Foreign government, agency and municipal securities — — — — Bank and corporate debt securities — — — — Investment trust funds and other (2)(3) — 22,027 41,616 63,643 Life insurance company general accounts — 66,363 — 66,363 Other assets — 40,508 — 40,508 Total ¥ 23,464 ¥ 130,799 ¥ 65,081 ¥ 219,344 (1) Includes corporate type equity investments. (2) Includes mainly debt investment funds. Hedge funds and real estate funds are also included. ( 3 Certain assets that are measured at fair value using net asset value per share as a practical expedient have not been classified in the fair value hierarchy. As of March 31, 2019 2020 |
Information about plan assets for which Level 3 inputs are utilized to determine fair value | Millions of yen Year ended March 31, 2019 Balance as of April 1, 2018 Unrealized and realized gains / loss Purchases / sales and other settlement Balance as of March 31, 2019 Private equity and pooled investments ¥ 3,639 ¥ (349 ) ¥ 533 ¥ 3,823 Investment trust funds and other 48,088 937 1,535 50,560 Total ¥ 51,727 ¥ 588 ¥ 2,068 ¥ 54,383 Millions of yen Year ended March 31, 2020 Balance as of April 1, 2019 Unrealized and realized gains / loss Purchases / sales and other settlement Balance as of March 31, 2020 Private equity and pooled investments ¥ 3,823 ¥ (4,403 ) ¥ 24,045 ¥ 23,465 Investment trust funds and other 50,560 (3,262 ) (5,682 ) 41,616 Total ¥ 54,383 ¥ (7,665 ) ¥ 18,363 ¥ 65,081 |
Expected benefit payments | Year ending March 31 Millions of yen 2021 ¥ 13,167 2022 12,231 2023 12,733 2024 13,276 2025 14,049 2026-2030 63,956 |
Deferred compensation awards (T
Deferred compensation awards (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Deferred Compensation Awards [Abstract] | |
Activity relating to RSU awards | Outstanding (number of Nomura shares) Weighted-average grant date fair value per share Weighted-average remaining life until expiry (years) Outstanding as of March 31, 2019 48,518,200 ¥ 530 1.3 Granted 33,786,200 365 Forfeited (3,734,800 ) 441 Delivered (15,230,000 ) 530 Outstanding as of March 31, 2020 63,339,600 ¥ 447 1.0 |
SAR Plan A awards, Weighted-average assumptions | Year ended March 31 2018 2019 2020 Expected volatility 35.30 % 33.30 % — % Expected dividends yield 3.07 % 3.67 % — % Expected lives (in years) 4.5 4.5 — Risk-free interest rate 0.10 % 0.10 % — % |
Activity relating to SAR Plan A awards | Outstanding (number of Nomura shares) Weighted-average exercise price Weighted-average remaining life until expiry (years) Outstanding as of March 31, 2019 16,539,300 ¥ 679 3.9 Granted — — Exercised (900,800 ) 298 Forfeited (89,900 ) 630 Expired (95,700 ) 298 Outstanding as of March 31, 2020 15,452,900 ¥ 704 3.1 Exercisable as of March 31, 2020 12,945,000 ¥ 729 2.6 |
Activity relating to SAR Plan B awards | Outstanding (number of Nomura shares) Weighted-average grant date fair value per share Weighted-average remaining life until expiry (years) Outstanding as of March 31, 2019 39,392,900 ¥ 508 4.1 Granted — — Exercised (16,340,900 ) 497 Forfeited (399,900 ) 531 Expired (313,200 ) 425 Outstanding as of March 31, 2020 22,338,900 ¥ 517 3.4 Exercisable as of March 31, 2020 16,186,800 ¥ 512 2.5 |
Activity related to NSU and CSU awards | NSUs CSUs Outstanding (number of units) Stock price Outstanding (number of units) Stock price Outstanding as of March 31, 2019 31,036,558 ¥ 389 8,760,439 ¥ 603 Granted 13,203,853 405 (1) — — Vested (22,762,553 ) 438 (2) (5,728,731 ) 601 (2) Forfeited (379,029 ) (230,052 ) Outstanding as of March 31, 2020 21,098,829 ¥ 445 (3) 2,801,656 ¥ 611 (3) (1) Weighted-average price of the Company’s common stock used to determine number of awards granted. (2) Weighted-average price of the Company’s common stock used to determine the final cash settlement amount of the awards. (3) The price of the Company’s common stock used to remeasure the fair value of the remaining outstanding unvested awards as of March 31, 2020. |
Activity relating to NIU awards | Outstanding (number of units) Index price (1) Outstanding as of March 31, 2019 5,165,744 $ 6,043 Granted — — Vested (4,127,154 ) 6,233 (2) Forfeited (198,636 ) Outstanding as of March 31, 2020 839,954 $ 5,339 (3) (1) The price of each unit is determined using 1/1000 (2) Weighted-average index price used to determine the final cash settlement amount of the awards. (3) Index price used to remeasure the total fair value of the remaining outstanding unvested awards as of March 31, 2020. |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Income Tax [Abstract] | |
Components of income tax expense | The following table presents components of Income tax expense Millions of yen Year ended March 31 2018 2019 2020 Current: Domestic ¥ 35,018 ¥ 26,725 ¥ 42,099 Foreign 8,589 8,720 10,706 Subtotal 43,607 35,445 52,805 Deferred: Domestic 64,340 28,183 (23,512 ) Foreign (4,081 ) (6,618 ) (399 ) Subtotal 60,259 21,565 (23,911 ) Total ¥ 103,866 ¥ 57,010 ¥ 28,894 |
Effective income tax rate reflected in consolidated statements of income | For the year ended March 31, 2019, Nomura recognized Loss before income taxes Income tax expense Income tax expense Year ended March 31 2018 2019 2020 Nomura’s effective statutory tax rate 31.0 % 31.0 % 31.0 % Impact of: Changes in deferred tax valuation allowances (22.8 ) (58.3 ) (0.3 ) Additional taxable income 0.1 (2.9 ) 0.6 Non-deductible (1) 1.9 (110.3 ) 2.9 Non-taxable (2) (3.6 ) 16.8 (23.5 ) Dividends from foreign subsidiaries 0.0 0.0 0.1 Tax effect of undistributed earnings of foreign subsidiaries 0.0 (2.8 ) 0.2 Different tax rate applicable to income (loss) of foreign subsidiaries 0.8 (19.8 ) (0.9 ) Effect of changes in foreign tax laws 23.5 0.5 (0.9 ) Effect of changes in domestic tax laws — — — Tax benefit recognized on the devaluation of investment in subsidiaries and affiliates 1.7 5.4 (0.1 ) Other (0.9 ) (10.8 ) 2.5 Effective tax rate 31.7 % (151.2 )% 11.6 % (1) Non-deductible expenses (2) Non-taxable income during the year ended March 31, 2020 includes approximately billion of the tax effect from non-taxable dividend income from affiliated Nomura companies, including deemed dividend, (which decreased Nomura’s effective tax rate by ) |
Details of deferred tax assets and liabilities | The following table presents the significant components of deferred tax assets and liabilities as of March 31, 2019 and 2020, before offsetting of amounts which relate to the same tax-paying Millions of yen March 31 2019 2020 Deferred tax assets Depreciation, amortization and valuation of fixed assets ¥ 20,008 ¥ 19,932 Investments in subsidiaries and affiliates 25,243 1,209 Valuation of financial instruments 71,806 77,054 Accrued pension and severance costs 29,711 24,356 Other accrued expenses and provisions 44,803 51,566 Operating losses 369,286 308,504 Lease liabilities — 47,680 Other 9,213 9,394 Gross deferred tax assets 570,070 539,695 Less — (444,916 ) (388,411 ) Total deferred tax assets 125,154 151,284 Deferred tax liabilities Investments in subsidiaries and affiliates 133,936 89,630 Valuation of financial instruments 41,770 52,780 Undistributed earnings of foreign subsidiaries 2,039 2,423 Valuation of fixed assets 10,109 9,497 Right-of-use — 47,438 Other 6,843 2,992 Total deferred tax liabilities 194,697 204,760 Net deferred tax assets (liabilities) ¥ (69,543 ) ¥ (53,476 ) |
Changes in valuation allowance for deferred tax assets | The following table presents changes in total valuation allowances established against deferred tax assets for the years ended March 31, 2018, 2019 and 2020. Millions of yen Year ended March 31 2018 2019 2020 Balance at beginning of year ¥ 519,492 ¥ 422,280 ¥ 444,916 Net change during the year (97,212 ) (1) 22,636 (2) (56,505 ) (3) Balance at end of year ¥ 422,280 ¥ 444,916 ¥ 388,411 (1) Primarily includes a reduction of ¥80,459 million of valuation allowances of certain foreign subsidiaries mainly due to changes in tax laws in the U.S., an increase of ¥17,340 million related to Japanese subsidiaries and the Company because of an increase in valuation allowances related to operating loss carryforwards, and a reduction of ¥34,093 million of valuation allowances related to Japanese subsidiaries and the Company as a result of changes in the expected realization of deferred tax assets. In total, ¥97,212 million of allowances decreased for the year ended March 31, 2018. (2) Primarily includes an increase of ¥11,843 million of valuation allowances of certain foreign subsidiaries mainly due to an increase in valuation allowances related to operating loss carryforwards, partially offset by a decrease of valuation allowances related to accrued expenses and provisions, an increase of ¥6,265 million related to Japanese subsidiaries and the Company because of an increase in valuation allowances related to operating loss carryforwards recognized in the current year, an increase of ¥14,976 million of valuation allowances related to Japanese subsidiaries and the Company as a result of changes in the expected realization of deferred tax assets, and a reduction of ¥10,448 million of valuation allowances related to expiration of operating loss carryforwards. In total, ¥22,636 million of allowances increased for the year ended March 31, 2019. (3) Primarily includes a reduction of ¥59,330 million of valuation allowances of certain foreign subsidiaries mainly by expiration and r million |
Summarizes major jurisdictions subject to examination | The table below presents information regarding the earliest year in which Nomura remains subject to examination in the major jurisdictions in which Nomura operates as of March 31, 2020. Under Hong Kong Special Administrative Region tax law, the statute of limitation does not apply if an entity incurs taxable losses and is therefore not included in the table. Jurisdiction Year Japan 2015 (1) United Kingdom 2016 United States 2017 (1) The earliest year in which Nomura remains subject to examination for transfer pricing issues is 2014 |
Other comprehensive income (l_2
Other comprehensive income (loss) (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Accumulated Other Comprehensive Income (loss) | |
Changes in accumulated other comprehensive income (loss) | The following tables present changes in Accumulated other comprehensive income (loss) Millions of yen For the year ended March 31, 2019 Balance at beginning of year Other comprehensive income (loss) before reclassifications Reclassifications out of accumulated other comprehensive income (loss) Net change during the year Balance at end of year Cumulative translation adjustments (1) ¥ (15,596 ) ¥ 28,248 ¥ 5,181 ¥ 33,429 ¥ 17,833 Pension liability adjustment (2) (47,837 ) (25,182 ) 1,912 (23,270 ) (71,107 ) Own credit adjustments 4,077 20,944 (797 ) 20,147 24,224 Total ¥ (59,356 ) ¥ 24,010 ¥ 6,296 ¥ 30,306 ¥ (29,050 ) (1) Change in cumulative translation adjustments, net of tax in other comprehensive income (loss) for the year ended March 31, 2019 includes reclassification adjustment of ¥6,956 million for loss due to substantially complete liquidation of an investment in a foreign entity. The adjustment is recognized in Non-interest expenses-Other (2) See Note 13 “ Employee benefit plans Millions of yen For the year ended March 31, 2020 Balance at beginning of year Other comprehensive income (loss) before reclassifications Reclassifications out of accumulated other comprehensive income (loss) Net change during the year Balance at end of year Cumulative translation adjustments ¥ 17,833 ¥ (44,730 ) ¥ 623 ¥ (44,107 ) ¥ (26,274 ) Pension liability adjustment (1) (71,107 ) 4,528 4,008 8,536 (62,571 ) Own credit adjustments 24,224 39,517 (1,001 ) 38,516 62,740 Total ¥ (29,050 ) ¥ (685 ) ¥ 3,630 ¥ 2,945 ¥ (26,105 ) (1) See Note 13 “ Employee benefit plans |
Reclassifications out of accumulated other comprehensive income (loss) | The following tables present significant reclassifications out of Accumulated other comprehensive income (loss) Millions of yen For the year ended March 31 2019 2020 Affected line items in consolidated statements of income Reclassifications out of accumulated other comprehensive income (loss) Reclassifications out of accumulated other comprehensive income (loss) Cumulative translation adjustments: ¥ (5,181 ) ¥ (886 ) Revenue — Non-interest — — 263 Income tax expense (5,181 ) (623 ) Net income (loss) — — Net income attributable to noncontrolling interests ¥ (5,181 ) ¥ (623 ) Net income (loss) attributable to NHI shareholders Millions of yen For the year ended March 31 2019 2020 Affected line items in consolidated Reclassifications out of accumulated other comprehensive income (loss) Reclassifications out of accumulated other comprehensive income (loss) Pension liability adjustment: ¥ (2,771 ) ¥ (5,792 ) Non-interest — / Revenue—Other 859 1,784 Income tax expense (1,912 ) (4,008 ) Net income (loss) — — Net income attributable to noncontrolling interests ¥ (1,912 ) ¥ (4,008 ) Net income (loss) Millions of yen For the year ended March 31 2019 2020 Affected line items in consolidated Reclassifications out of accumulated other comprehensive income (loss) Reclassifications out of accumulated other comprehensive income (loss) Own credit adjustments: ¥ 804 ¥ 1,132 Revenue — (7 ) (131 ) Income tax expense 797 1,001 Net income (loss) — — Net income attributable to noncontrolling interests ¥ 797 ¥ 1,001 Net income (loss) attributable to NHI shareholders |
Shareholders' equity (Tables)
Shareholders' equity (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Stockholders' Equity [Abstract] | |
Changes in shares of common stock outstanding | Number of Shares Year ended March 31 2018 2019 2020 Common stock outstanding at beginning of year 3,528,429,451 3,392,937,486 3,310,800,799 Decrease of common stock by cancellation of treasury stock (179,000,000 ) (150,000,000 ) — Common stock held in treasury: Repurchases of common stock (170,027,391 ) (100,020,867 ) (299,381,781 ) Sales of common stock 201 180 390 Common stock issued to employees 34,115,500 17,894,000 27,168,085 Cancellation of treasury stock 179,000,000 150,000,000 — Other net change in treasury stock 419,725 (10,000 ) — Common stock outstanding at end of year 3,392,937,486 3,310,800,799 3,038,587,493 |
Affiliated companies and othe_2
Affiliated companies and other equity-method investees (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Affiliated Companies and Other Equity-method Investees [Abstract] | |
Summary of financial information for signifiant affiliated companies | Millions of yen March 31 2019 2020 Total assets ¥ 2,535,825 ¥ 2,559,985 Total liabilities 1,538,231 1,669,132 Millions of yen Year ended March 31 2018 (1) 2019 2020 Net revenues ¥ 949,055 ¥ 963,824 ¥ 1,017,860 Non-interest 768,419 794,264 791,403 Net income attributable to the companies 122,623 122,440 155,567 (1) For JAFCO, financial information while it was an affiliated company of Nomura is included. |
Summary of balances and transactions with affiliated companies and other equity-method investees | Millions of yen March 31 2019 2020 Investments in affiliated companies ¥ 436,220 ¥ 367,641 Other receivables from affiliated companies (1) 1,425 25,074 Other payables to affiliated companies (1) 2,998 27,648 (1) As a result of adopting ASU 2016-02 as of April 1, 2019, ROU assets Millions of yen Year ended March 31 2018 2019 2020 Revenues ¥ 1,677 ¥ 1,986 ¥ 3,833 Non-interest 46,632 44,073 46,335 Purchase of software, securities and tangible assets 26,830 13,515 17,716 |
Summary of aggregate carrying amount and fair value of investments in affiliated companies and other equity-method investees | Millions of yen March 31 2019 2020 Carrying amount ¥ 423,885 ¥ 357,751 Fair value 600,132 511,667 |
Summary of equity in earnings of equity-method investees and dividends from equity-method investees | Millions of yen Year ended March 31 2018 2019 2020 Equity in earnings of equity-method investees (1) ¥ 34,516 ¥ 32,014 ¥ 32,109 Dividends from equity-method investees 13,290 12,971 11,767 (1) Equity in earnings of equity-method investees is reported within Revenue-Other |
Commitments, contingencies an_2
Commitments, contingencies and guarantees (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Commitments, Contingencies and Guarantees [Abstract] | |
Commitments outstanding | Millions of yen March 31, 2019 March 31, 2020 Commitments to extend credit Liquidity facilities to central clearing counterparties ¥ 1,593,439 ¥ 1,288,774 Other commitments to extend credit 1,100,929 958,659 Total ¥ 2,694,368 ¥ 2,247,433 Commitments to invest ¥ 14,413 ¥ 15,278 |
Maturity schedule of commitments | Millions of yen Total contractual amount Years to maturity Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Commitments to extend credit Liquidity facilities to central clearing counterparties ¥ 1,288,774 ¥ 1,288,774 ¥ — ¥ — ¥ — Other commitments to extend credit 958,659 110,312 139,295 167,322 541,730 Total ¥ 2,247,433 ¥ 1,399,086 ¥ 139,295 ¥ 167,322 ¥ 541,730 Commitments to invest ¥ 15,278 ¥ 491 ¥ 4 ¥ 5,628 ¥ 9,155 |
Maturity schedule of purchase obligations | Millions of yen Total Years of payment Less than 1 to 2 2 to 3 3 to 4 4 to 5 More than Purchase obligations ¥ 126,949 ¥ 20,523 ¥ 24,206 ¥ 11,514 ¥ 8,280 ¥ 112 ¥62,314 |
Information on derivative contracts and standby letters of credit and other guarantees | Millions of yen March 31 2019 2020 Carrying value Maximum potential payout / Notional total Carrying value Maximum potential payout / Notional total Derivative contracts (1)(2) ¥ 4,315,743 ¥ 281,605,308 ¥ 7,197,647 ¥ 279,734,884 Standby letters of credit and other guarantees (3) 80 5,764 — 2,351 (1) Credit derivatives are disclosed in Note 3 “ Derivative instruments and hedging activities |
Maturity information on derivative contracts and standby letters of credit and other guarantees | Millions of yen Carrying value Maximum potential payout/Notional Total Years to Maturity Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Derivative contracts ¥ 7,197,647 ¥ 279,734,884 ¥ 71,355,150 ¥ 77,870,884 ¥ 35,538,204 ¥ 94,970,646 Standby letters of credit and other guarantees — 2,351 10 1,184 1,156 1 |
Segment and geographic inform_2
Segment and geographic information (Tables) | 12 Months Ended |
Mar. 31, 2020 | |
Segment and Geographic Information [Abstract] | |
Business segments' results | Millions of yen Retail Asset Management Wholesale Other (Incl. elimination) Total Year ended March 31, 2018 Non-interest ¥ 406,295 ¥ 118,545 ¥ 587,474 ¥ 272,271 ¥ 1,384,585 Net interest revenue 6,613 8,792 127,859 (32,778 ) 110,486 Net revenue 412,908 127,337 715,333 239,493 1,495,071 Non-interest 309,771 61,167 614,745 183,128 1,168,811 Income before income taxes ¥ 103,137 ¥ 66,170 ¥ 100,588 ¥ 56,365 ¥ 326,260 Year ended March 31, 2019 Non-interest ¥ 331,743 ¥ 89,607 ¥ 496,484 ¥ 147,524 ¥ 1,065,358 Net interest revenue 7,737 8,238 58,904 (16,263 ) 58,616 Net revenue 339,480 97,845 555,388 131,261 1,123,974 Non-interest 289,990 63,660 666,787 134,034 1,154,471 Income (loss) before income taxes ¥ 49,490 ¥ 34,185 ¥ (111,399 ) ¥ (2,773 ) ¥ (30,497 ) Year ended March 31, 2020 Non-interest ¥ 329,983 ¥ 85,190 ¥ 506,203 ¥ 257,961 ¥ 1,179,337 Net interest revenue 6,376 7,415 142,416 (26,388 ) 129,819 Net revenue 336,359 92,605 648,619 231,573 1,309,156 Non-interest 286,926 63,833 556,399 132,410 1,039,568 Income (loss) before income taxes ¥ 49,433 ¥ 28,772 ¥ 92,220 ¥ 99,163 ¥ 269,588 |
Major components of income (loss) before income taxes in "Other" | The following table presents the major components of Income (loss) before income taxes “Other” Millions of yen Year ended March 31 2018 2019 2020 Net gain (loss) related to economic hedging transactions ¥ (6,461 ) ¥ 1,800 ¥ 17,548 Realized gain on investments in equity securities held for operating purposes 785 221 6,601 Equity in earnings of affiliates 34,248 32,532 34,990 Corporate items (41,884 ) (35,996 ) (22,240 ) Other (1) (2) 69,677 (1,330 ) 62,264 Total ¥ 56,365 ¥ (2,773 ) ¥ 99,163 (1) Amounts reported for the year ended March 31, 2018 include the gain recognized in earnings in connection with the liquidation of a non-Japanese (2) Includes gain of ¥73,293 million from the partial sale of Nomura’s investment in ordinary shares of Nomura Research Institute, Ltd. for the year ended March 31, 2020. |
Reconciliation of combined business segments' results included in preceding table to reported net revenue, non-interest expenses and income (loss) before income taxes | Millions of yen Year ended March 31 2018 2019 2020 Net revenue ¥ 1,495,071 ¥ 1,123,974 ¥ 1,309,156 Unrealized gain (loss) on investments in equity securities held for operating purposes 1,898 (7,204 ) (21,327 ) Consolidated net revenue ¥ 1,496,969 ¥ 1,116,770 ¥ 1,287,829 Non-interest ¥ 1,168,811 ¥ 1,154,471 ¥ 1,039,568 Unrealized gain (loss) on investments in equity securities held for operating purposes — — — Consolidated non-interest ¥ 1,168,811 ¥ 1,154,471 ¥ 1,039,568 Income (loss) before income taxes ¥ 326,260 ¥ (30,497 ) ¥ 269,588 Unrealized gain (loss) on investments in equity securities held for operating purposes 1,898 (7,204 ) (21,327 ) Consolidated income (loss) before income taxes ¥ 328,158 ¥ (37,701 ) ¥ 248,261 |
Geographic allocation of net revenue and income (loss) before income taxes from operations by geographic areas, and long-lived assets | Millions of yen Year ended March 31 2018 2019 2020 Net revenue (1) Americas ¥ 268,653 ¥ 169,581 ¥ 229,265 Europe 168,186 131,175 115,483 Asia and Oceania 68,011 47,977 42,571 Subtotal 504,850 348,733 387,319 Japan 992,119 768,037 900,510 Consolidated ¥ 1,496,969 ¥ 1,116,770 ¥ 1,287,829 Income (loss) before income taxes: Americas ¥ (8,771 ) ¥ (114,081 ) ¥ 7,354 Europe (14,654 ) (56,851 ) (14,067 ) Asia and Oceania 22,751 5,014 19,817 Subtotal (674 ) (165,918 ) 13,104 Japan 328,832 128,217 235,157 Consolidated ¥ 328,158 ¥ (37,701 ) ¥ 248,261 March 31 2018 2019 2020 Long-lived assets: Americas ¥ 117,323 ¥ 50,829 ¥ 84,904 Europe 67,010 56,821 52,179 Asia and Oceania 8,613 9,588 29,618 Subtotal 192,946 117,238 166,701 Japan 231,003 252,420 292,212 Consolidated ¥ 423,949 ¥ 369,658 ¥ 458,913 |
Summary of accounting policie_3
Summary of accounting policies - Additional information (Detail) ¥ in Millions | Apr. 01, 2020JPY (¥) | Mar. 31, 2020JPY (¥)Segment | Mar. 31, 2019JPY (¥) | Mar. 31, 2018JPY (¥) | Apr. 01, 2019JPY (¥) |
Accounting Policy [Line Items] | |||||
Number of business segments | Segment | 3 | ||||
Net receivables arising from unsettled securities transactions | ¥ 680,727 | ¥ 345,850 | |||
Depreciation and amortization charges of both owned and capital lease assets | 63,583 | 57,924 | ¥ 71,579 | ||
Investments in equity securities | 112,175 | 138,447 | |||
Other liabilities | 1,034,448 | 858,867 | |||
Retained earnings | 1,645,451 | 1,486,825 | |||
Accounting Standards Update 2016-02 [Member] | |||||
Accounting Policy [Line Items] | |||||
New accounting standards impact on Payables to other than customers | ¥ 169,277 | ||||
Other liabilities | 163,685 | ||||
Retained earnings | ¥ 5,592 | ||||
Accounting Standards Update 2016-13 [Member] | |||||
Accounting Policy [Line Items] | |||||
New accounting standards impact on Other liabilities | ¥ 638 | ||||
New accounting standards impact on Deferred tax assets | 72 | ||||
Additional allowances for credit losses | 1,972 | ||||
Retained earnings | (2,538) | ||||
Loans receivable | (9,774) | ||||
Loan commitment | 5,888 | ||||
Retained earnings | ¥ (15,662) | ||||
Listed equity [Member] | |||||
Accounting Policy [Line Items] | |||||
Investments in equity securities | 74,755 | 97,904 | |||
Unlisted equity [Member] | |||||
Accounting Policy [Line Items] | |||||
Investments in equity securities | 37,420 | 40,543 | |||
Information processing and communications [Member] | |||||
Accounting Policy [Line Items] | |||||
Depreciation and amortization charges of both owned and capital lease assets | 47,653 | 45,818 | 58,300 | ||
Occupancy and related depreciation [Member] | |||||
Accounting Policy [Line Items] | |||||
Depreciation and amortization charges of both owned and capital lease assets | ¥ 15,930 | ¥ 12,106 | ¥ 13,279 | ||
Minimum [Member] | |||||
Accounting Policy [Line Items] | |||||
Ownership percentage | 20.00% | ||||
Maximum [Member] | |||||
Accounting Policy [Line Items] | |||||
Ownership percentage | 50.00% | ||||
Limited partnership [Member] | Minimum [Member] | |||||
Accounting Policy [Line Items] | |||||
Ownership percentage | 3.00% |
Summary of accounting policie_4
Summary of accounting policies - Breakdown of office buildings, land , equipment and facilities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Property, Plant and Equipment [Line Items] | ||
Office buildings, land, equipment and facilities | ¥ 440,512 | ¥ 349,365 |
Operating lease ROU assets | 170,782 | |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Office buildings, land, equipment and facilities | 49,214 | 49,474 |
Office buildings [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Office buildings, land, equipment and facilities | 71,468 | 103,423 |
Equipment and facilities [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Office buildings, land, equipment and facilities | 36,279 | 75,206 |
Software [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Office buildings, land, equipment and facilities | 111,031 | 121,245 |
Construction in progress [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Office buildings, land, equipment and facilities | ¥ 1,738 | ¥ 17 |
Summary of accounting policie_5
Summary of accounting policies - Estimated useful lives for significant asset classes (Detail) | 12 Months Ended |
Mar. 31, 2020 | |
Minimum [Member] | Office buildings [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful lives for significant assets, in years | 3 years |
Minimum [Member] | Equipment and facilities [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful lives for significant assets, in years | 2 years |
Minimum [Member] | Software [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful lives for significant assets, in years | 3 years |
Maximum [Member] | Office buildings [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful lives for significant assets, in years | 50 years |
Maximum [Member] | Equipment and facilities [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful lives for significant assets, in years | 20 years |
Maximum [Member] | Software [Member] | |
Property, Plant and Equipment [Line Items] | |
Estimated useful lives for significant assets, in years | 10 years |
Fair value measurements - Fair
Fair value measurements - Fair value of financial instruments measured on recurring basis (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | ||
Assets: | ||||
Derivative assets | ¥ 21,190,000 | ¥ 14,929,000 | ||
Netting | (19,248,000) | (14,077,000) | ||
Collateralized agreements | 15,907,112 | 17,306,959 | ||
Other assets | 827,022 | 748,091 | ||
Liabilities: | ||||
Derivative liabilities | [1] | 20,790,000 | 14,517,000 | |
Netting | (18,987,000) | [1],[2] | (13,710,000) | |
Short-term borrowings | 376,910 | 362,612 | ||
Collateralized financing | 18,028,339 | 16,684,403 | ||
Long-term borrowings | 3,707,643 | 3,576,293 | ||
Recurring [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 14,930,000 | 13,498,000 | |
Derivative assets | [4] | 1,942,000 | 852,000 | |
Netting | [4] | (19,248,000) | (14,077,000) | |
Subtotal, Assets | 16,872,000 | 14,350,000 | ||
Loans and receivables | [5] | 805,000 | 673,000 | |
Collateralized agreements | [6] | 549,000 | 648,000 | |
Total Assets | 19,247,000 | 16,724,000 | ||
Liabilities: | ||||
Trading liabilities | 6,737,000 | 7,405,000 | ||
Derivative liabilities | [4] | 1,809,000 | 815,000 | |
Netting | [4] | (18,987,000) | (13,710,000) | |
Subtotal, Liabilities | 8,546,000 | 8,220,000 | ||
Short-term borrowings | [7] | 377,000 | 363,000 | |
Payables and deposits | [8] | 15,000 | 0 | |
Collateralized financing | [6] | 247,000 | 291,000 | |
Long-term borrowings | [7],[9],[10] | 3,702,000 | 3,570,000 | |
Other liabilities | [11] | 299,000 | 298,000 | |
Total Liabilities | 13,186,000 | 12,742,000 | ||
Recurring [Member] | Equities [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3],[12] | 2,115,000 | 2,470,000 | |
Liabilities: | ||||
Trading liabilities | 1,564,000 | 1,820,000 | ||
Recurring [Member] | Private equity investments [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3],[13] | 38,000 | 26,000 | |
Recurring [Member] | Japanese government securities [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 1,826,000 | 1,987,000 | |
Liabilities: | ||||
Trading liabilities | 1,108,000 | 1,264,000 | ||
Recurring [Member] | Japanese agency and municipal securities [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 108,000 | 215,000 | |
Liabilities: | ||||
Trading liabilities | 0 | 3,000 | ||
Recurring [Member] | Foreign government, agency and municipal securities [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 5,265,000 | 4,199,000 | |
Liabilities: | ||||
Trading liabilities | 3,230,000 | 3,833,000 | ||
Recurring [Member] | Bank and corporate debt securities and loans for trading purposes [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 1,494,000 | 1,288,000 | |
Recurring [Member] | Bank and corporate debt securities [Member] | ||||
Liabilities: | ||||
Trading liabilities | 273,000 | 319,000 | ||
Recurring [Member] | Commercial mortgage-backed securities ("CMBS") [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 1,000 | 3,000 | |
Recurring [Member] | Residential mortgage-backed securities ("RMBS") [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 3,688,000 | 2,764,000 | |
Issued/Guaranteed by government sponsored entity | [3] | 3,616,000 | 2,706,000 | |
Other | [3] | 72,000 | 58,000 | |
Liabilities: | ||||
Trading liabilities | 3,000 | 0 | ||
Recurring [Member] | Real estate-backed securities [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 94,000 | 69,000 | |
Recurring [Member] | Collateralized debt obligations ("CDOs") and other [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3],[14] | 53,000 | 74,000 | |
Liabilities: | ||||
Trading liabilities | [14] | 2,000 | 3,000 | |
Recurring [Member] | Investment trust funds and other [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 248,000 | 403,000 | |
Liabilities: | ||||
Trading liabilities | 557,000 | 163,000 | ||
Recurring [Member] | Equity contracts [Member] | ||||
Assets: | ||||
Derivative assets | [4] | 1,921,000 | 851,000 | |
Liabilities: | ||||
Derivative liabilities | [4] | 2,008,000 | 920,000 | |
Recurring [Member] | Interest rate contracts [Member] | ||||
Assets: | ||||
Derivative assets | [4] | 13,629,000 | 8,632,000 | |
Liabilities: | ||||
Derivative liabilities | [4] | 13,220,000 | 8,298,000 | |
Recurring [Member] | Credit contracts [Member] | ||||
Assets: | ||||
Derivative assets | [4] | 407,000 | 533,000 | |
Liabilities: | ||||
Derivative liabilities | [4] | 457,000 | 464,000 | |
Recurring [Member] | Foreign exchange contracts [Member] | ||||
Assets: | ||||
Derivative assets | [4] | 5,224,000 | 4,912,000 | |
Liabilities: | ||||
Derivative liabilities | [4] | 5,105,000 | 4,842,000 | |
Recurring [Member] | Commodity contracts [Member] | ||||
Assets: | ||||
Derivative assets | [4] | 9,000 | 1,000 | |
Liabilities: | ||||
Derivative liabilities | [4] | 6,000 | 1,000 | |
Recurring [Member] | Non-trading debt securities [Member] | ||||
Assets: | ||||
Other assets | 455,000 | 461,000 | ||
Recurring [Member] | Other [Member] | ||||
Assets: | ||||
Other assets | [3],[12] | 566,000 | 592,000 | |
Recurring [Member] | Counterparty and Cash Collateral Netting [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3],[15] | |||
Derivative assets | [4],[15] | (19,248,000) | (14,077,000) | |
Netting | [4],[15] | (19,248,000) | (14,077,000) | |
Subtotal, Assets | [15] | (19,248,000) | (14,077,000) | |
Loans and receivables | [5],[15] | |||
Collateralized agreements | [6],[15] | |||
Total Assets | [15] | (19,248,000) | (14,077,000) | |
Liabilities: | ||||
Trading liabilities | [15] | |||
Derivative liabilities | [4],[15] | (18,987,000) | (13,710,000) | |
Netting | [4],[15] | (18,987,000) | (13,710,000) | |
Subtotal, Liabilities | [15] | (18,987,000) | (13,710,000) | |
Short-term borrowings | [7],[15] | |||
Payables and deposits | [8],[15] | |||
Collateralized financing | [6],[15] | |||
Long-term borrowings | [7],[9],[10],[15] | |||
Other liabilities | [11],[15] | |||
Total Liabilities | [15] | (18,987,000) | (13,710,000) | |
Recurring [Member] | Counterparty and Cash Collateral Netting [Member] | Equities [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3],[12],[15] | |||
Liabilities: | ||||
Trading liabilities | [15] | |||
Recurring [Member] | Counterparty and Cash Collateral Netting [Member] | Private equity investments [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3],[13],[15] | |||
Recurring [Member] | Counterparty and Cash Collateral Netting [Member] | Japanese government securities [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3],[15] | |||
Liabilities: | ||||
Trading liabilities | [15] | |||
Recurring [Member] | Counterparty and Cash Collateral Netting [Member] | Japanese agency and municipal securities [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3],[15] | |||
Liabilities: | ||||
Trading liabilities | [15] | |||
Recurring [Member] | Counterparty and Cash Collateral Netting [Member] | Foreign government, agency and municipal securities [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3],[15] | |||
Liabilities: | ||||
Trading liabilities | [15] | |||
Recurring [Member] | Counterparty and Cash Collateral Netting [Member] | Bank and corporate debt securities and loans for trading purposes [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3],[15] | |||
Recurring [Member] | Counterparty and Cash Collateral Netting [Member] | Bank and corporate debt securities [Member] | ||||
Liabilities: | ||||
Trading liabilities | [15] | |||
Recurring [Member] | Counterparty and Cash Collateral Netting [Member] | Commercial mortgage-backed securities ("CMBS") [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3],[15] | |||
Recurring [Member] | Counterparty and Cash Collateral Netting [Member] | Residential mortgage-backed securities ("RMBS") [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3],[15] | |||
Issued/Guaranteed by government sponsored entity | [3],[15] | |||
Other | [3],[15] | |||
Liabilities: | ||||
Trading liabilities | [15] | |||
Recurring [Member] | Counterparty and Cash Collateral Netting [Member] | Real estate-backed securities [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3],[15] | |||
Recurring [Member] | Counterparty and Cash Collateral Netting [Member] | Collateralized debt obligations ("CDOs") and other [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3],[14],[15] | |||
Liabilities: | ||||
Trading liabilities | [14],[15] | |||
Recurring [Member] | Counterparty and Cash Collateral Netting [Member] | Investment trust funds and other [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3],[15] | |||
Liabilities: | ||||
Trading liabilities | [15] | |||
Recurring [Member] | Counterparty and Cash Collateral Netting [Member] | Equity contracts [Member] | ||||
Assets: | ||||
Derivative assets | [4],[15] | |||
Liabilities: | ||||
Derivative liabilities | [4],[15] | |||
Recurring [Member] | Counterparty and Cash Collateral Netting [Member] | Interest rate contracts [Member] | ||||
Assets: | ||||
Derivative assets | [4],[15] | |||
Liabilities: | ||||
Derivative liabilities | [4],[15] | |||
Recurring [Member] | Counterparty and Cash Collateral Netting [Member] | Credit contracts [Member] | ||||
Assets: | ||||
Derivative assets | [4],[15] | |||
Liabilities: | ||||
Derivative liabilities | [4],[15] | |||
Recurring [Member] | Counterparty and Cash Collateral Netting [Member] | Foreign exchange contracts [Member] | ||||
Assets: | ||||
Derivative assets | [4],[15] | |||
Liabilities: | ||||
Derivative liabilities | [4],[15] | |||
Recurring [Member] | Counterparty and Cash Collateral Netting [Member] | Commodity contracts [Member] | ||||
Assets: | ||||
Derivative assets | [4],[15] | |||
Liabilities: | ||||
Derivative liabilities | [4],[15] | |||
Recurring [Member] | Counterparty and Cash Collateral Netting [Member] | Non-trading debt securities [Member] | ||||
Assets: | ||||
Other assets | [15] | |||
Recurring [Member] | Counterparty and Cash Collateral Netting [Member] | Other [Member] | ||||
Assets: | ||||
Other assets | [3],[12],[15] | |||
Recurring [Member] | Level 1 [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 6,480,000 | 6,378,000 | |
Derivative assets | [4] | 71,000 | 16,000 | |
Netting | [4] | |||
Subtotal, Assets | 6,551,000 | 6,394,000 | ||
Loans and receivables | [5] | |||
Collateralized agreements | [6] | |||
Total Assets | 6,926,000 | 6,948,000 | ||
Liabilities: | ||||
Trading liabilities | 5,045,000 | 5,913,000 | ||
Derivative liabilities | [4] | 44,000 | 11,000 | |
Netting | [4] | |||
Subtotal, Liabilities | 5,089,000 | 5,924,000 | ||
Short-term borrowings | [7] | |||
Payables and deposits | [8] | |||
Collateralized financing | [6] | |||
Long-term borrowings | [7],[9],[10] | 2,000 | 11,000 | |
Other liabilities | [11] | 170,000 | 276,000 | |
Total Liabilities | 5,261,000 | 6,211,000 | ||
Recurring [Member] | Level 1 [Member] | Equities [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3],[12] | 1,193,000 | 1,392,000 | |
Liabilities: | ||||
Trading liabilities | 1,412,000 | 1,622,000 | ||
Recurring [Member] | Level 1 [Member] | Private equity investments [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3],[13] | |||
Recurring [Member] | Level 1 [Member] | Japanese government securities [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 1,826,000 | 1,987,000 | |
Liabilities: | ||||
Trading liabilities | 1,108,000 | 1,264,000 | ||
Recurring [Member] | Level 1 [Member] | Japanese agency and municipal securities [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | |||
Liabilities: | ||||
Trading liabilities | ||||
Recurring [Member] | Level 1 [Member] | Foreign government, agency and municipal securities [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 3,257,000 | 2,650,000 | |
Liabilities: | ||||
Trading liabilities | 2,116,000 | 2,906,000 | ||
Recurring [Member] | Level 1 [Member] | Bank and corporate debt securities and loans for trading purposes [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | |||
Recurring [Member] | Level 1 [Member] | Bank and corporate debt securities [Member] | ||||
Liabilities: | ||||
Trading liabilities | ||||
Recurring [Member] | Level 1 [Member] | Commercial mortgage-backed securities ("CMBS") [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | |||
Recurring [Member] | Level 1 [Member] | Residential mortgage-backed securities ("RMBS") [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | |||
Issued/Guaranteed by government sponsored entity | [3] | |||
Other | [3] | |||
Liabilities: | ||||
Trading liabilities | ||||
Recurring [Member] | Level 1 [Member] | Real estate-backed securities [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | |||
Recurring [Member] | Level 1 [Member] | Collateralized debt obligations ("CDOs") and other [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3],[14] | |||
Liabilities: | ||||
Trading liabilities | [14] | |||
Recurring [Member] | Level 1 [Member] | Investment trust funds and other [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 204,000 | 349,000 | |
Liabilities: | ||||
Trading liabilities | 409,000 | 121,000 | ||
Recurring [Member] | Level 1 [Member] | Equity contracts [Member] | ||||
Assets: | ||||
Derivative assets | [4] | 4,000 | 1,000 | |
Liabilities: | ||||
Derivative liabilities | [4] | 7,000 | 1,000 | |
Recurring [Member] | Level 1 [Member] | Interest rate contracts [Member] | ||||
Assets: | ||||
Derivative assets | [4] | 55,000 | 12,000 | |
Liabilities: | ||||
Derivative liabilities | [4] | 18,000 | 6,000 | |
Recurring [Member] | Level 1 [Member] | Credit contracts [Member] | ||||
Assets: | ||||
Derivative assets | [4] | 3,000 | 2,000 | |
Liabilities: | ||||
Derivative liabilities | [4] | 14,000 | 3,000 | |
Recurring [Member] | Level 1 [Member] | Foreign exchange contracts [Member] | ||||
Assets: | ||||
Derivative assets | [4] | 0 | 0 | |
Liabilities: | ||||
Derivative liabilities | [4] | 0 | ||
Recurring [Member] | Level 1 [Member] | Commodity contracts [Member] | ||||
Assets: | ||||
Derivative assets | [4] | 9,000 | 1,000 | |
Liabilities: | ||||
Derivative liabilities | [4] | 5,000 | 1,000 | |
Recurring [Member] | Level 1 [Member] | Non-trading debt securities [Member] | ||||
Assets: | ||||
Other assets | 123,000 | 138,000 | ||
Recurring [Member] | Level 1 [Member] | Other [Member] | ||||
Assets: | ||||
Other assets | [3],[12] | 252,000 | 416,000 | |
Recurring [Member] | Level 2 [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 7,978,000 | 6,821,000 | |
Derivative assets | [4] | 20,921,000 | 14,786,000 | |
Netting | [4] | |||
Subtotal, Assets | 28,899,000 | 21,607,000 | ||
Loans and receivables | [5] | 709,000 | 544,000 | |
Collateralized agreements | [6] | 534,000 | 615,000 | |
Total Assets | 30,620,000 | 23,099,000 | ||
Liabilities: | ||||
Trading liabilities | 1,690,000 | 1,492,000 | ||
Derivative liabilities | [4] | 20,525,000 | 14,337,000 | |
Netting | [4] | |||
Subtotal, Liabilities | 22,215,000 | 15,829,000 | ||
Short-term borrowings | [7] | 348,000 | 332,000 | |
Payables and deposits | [8] | 14,000 | 0 | |
Collateralized financing | [6] | 247,000 | 291,000 | |
Long-term borrowings | [7],[9],[10] | 3,291,000 | 3,024,000 | |
Other liabilities | [11] | 129,000 | 22,000 | |
Total Liabilities | 26,244,000 | 19,498,000 | ||
Recurring [Member] | Level 2 [Member] | Equities [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3],[12] | 908,000 | 1,065,000 | |
Liabilities: | ||||
Trading liabilities | 152,000 | 198,000 | ||
Recurring [Member] | Level 2 [Member] | Private equity investments [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3],[13] | 7,000 | ||
Recurring [Member] | Level 2 [Member] | Japanese government securities [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | |||
Liabilities: | ||||
Trading liabilities | ||||
Recurring [Member] | Level 2 [Member] | Japanese agency and municipal securities [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 106,000 | 214,000 | |
Liabilities: | ||||
Trading liabilities | 0 | 3,000 | ||
Recurring [Member] | Level 2 [Member] | Foreign government, agency and municipal securities [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 2,000,000 | 1,544,000 | |
Liabilities: | ||||
Trading liabilities | 1,114,000 | 927,000 | ||
Recurring [Member] | Level 2 [Member] | Bank and corporate debt securities and loans for trading purposes [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 1,266,000 | 1,128,000 | |
Recurring [Member] | Level 2 [Member] | Bank and corporate debt securities [Member] | ||||
Liabilities: | ||||
Trading liabilities | 272,000 | 319,000 | ||
Recurring [Member] | Level 2 [Member] | Commercial mortgage-backed securities ("CMBS") [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 0 | 1,000 | |
Recurring [Member] | Level 2 [Member] | Residential mortgage-backed securities ("RMBS") [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 3,626,000 | 2,761,000 | |
Issued/Guaranteed by government sponsored entity | [3] | 3,602,000 | 2,706,000 | |
Other | [3] | 24,000 | 55,000 | |
Liabilities: | ||||
Trading liabilities | 3,000 | 0 | ||
Recurring [Member] | Level 2 [Member] | Real estate-backed securities [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | |||
Recurring [Member] | Level 2 [Member] | Collateralized debt obligations ("CDOs") and other [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3],[14] | 21,000 | 55,000 | |
Liabilities: | ||||
Trading liabilities | [14] | 1,000 | 3,000 | |
Recurring [Member] | Level 2 [Member] | Investment trust funds and other [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 44,000 | 53,000 | |
Liabilities: | ||||
Trading liabilities | 148,000 | 42,000 | ||
Recurring [Member] | Level 2 [Member] | Equity contracts [Member] | ||||
Assets: | ||||
Derivative assets | [4] | 1,869,000 | 806,000 | |
Liabilities: | ||||
Derivative liabilities | [4] | 1,972,000 | 867,000 | |
Recurring [Member] | Level 2 [Member] | Interest rate contracts [Member] | ||||
Assets: | ||||
Derivative assets | [4] | 13,551,000 | 8,610,000 | |
Liabilities: | ||||
Derivative liabilities | [4] | 13,125,000 | 8,228,000 | |
Recurring [Member] | Level 2 [Member] | Credit contracts [Member] | ||||
Assets: | ||||
Derivative assets | [4] | 318,000 | 500,000 | |
Liabilities: | ||||
Derivative liabilities | [4] | 356,000 | 422,000 | |
Recurring [Member] | Level 2 [Member] | Foreign exchange contracts [Member] | ||||
Assets: | ||||
Derivative assets | [4] | 5,183,000 | 4,870,000 | |
Liabilities: | ||||
Derivative liabilities | [4] | 5,071,000 | 4,820,000 | |
Recurring [Member] | Level 2 [Member] | Commodity contracts [Member] | ||||
Assets: | ||||
Derivative assets | [4] | 0 | 0 | |
Liabilities: | ||||
Derivative liabilities | [4] | 1,000 | 0 | |
Recurring [Member] | Level 2 [Member] | Non-trading debt securities [Member] | ||||
Assets: | ||||
Other assets | 332,000 | 323,000 | ||
Recurring [Member] | Level 2 [Member] | Other [Member] | ||||
Assets: | ||||
Other assets | [3],[12] | 146,000 | 10,000 | |
Recurring [Member] | Level 3 [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 472,000 | 299,000 | |
Derivative assets | [4] | 198,000 | 127,000 | |
Netting | [4] | |||
Subtotal, Assets | 670,000 | 426,000 | ||
Loans and receivables | [5] | 96,000 | 129,000 | |
Collateralized agreements | [6] | 15,000 | 33,000 | |
Total Assets | 949,000 | 754,000 | ||
Liabilities: | ||||
Trading liabilities | 2,000 | 0 | ||
Derivative liabilities | [4] | 227,000 | 177,000 | |
Netting | [4] | |||
Subtotal, Liabilities | 229,000 | 177,000 | ||
Short-term borrowings | [7] | 29,000 | 31,000 | |
Payables and deposits | [8] | 1,000 | 0 | |
Collateralized financing | [6] | |||
Long-term borrowings | [7],[9],[10] | 409,000 | 535,000 | |
Other liabilities | [11] | 0 | 0 | |
Total Liabilities | 668,000 | 743,000 | ||
Recurring [Member] | Level 3 [Member] | Equities [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3],[12] | 14,000 | 13,000 | |
Liabilities: | ||||
Trading liabilities | 0 | 0 | ||
Recurring [Member] | Level 3 [Member] | Private equity investments [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3],[13] | 31,000 | 26,000 | |
Recurring [Member] | Level 3 [Member] | Japanese government securities [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | |||
Liabilities: | ||||
Trading liabilities | ||||
Recurring [Member] | Level 3 [Member] | Japanese agency and municipal securities [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 2,000 | 1,000 | |
Liabilities: | ||||
Trading liabilities | ||||
Recurring [Member] | Level 3 [Member] | Foreign government, agency and municipal securities [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 8,000 | 5,000 | |
Liabilities: | ||||
Trading liabilities | 0 | 0 | ||
Recurring [Member] | Level 3 [Member] | Bank and corporate debt securities and loans for trading purposes [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 228,000 | 160,000 | |
Recurring [Member] | Level 3 [Member] | Bank and corporate debt securities [Member] | ||||
Liabilities: | ||||
Trading liabilities | 1,000 | 0 | ||
Recurring [Member] | Level 3 [Member] | Commercial mortgage-backed securities ("CMBS") [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 1,000 | 2,000 | |
Recurring [Member] | Level 3 [Member] | Residential mortgage-backed securities ("RMBS") [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 62,000 | 3,000 | |
Issued/Guaranteed by government sponsored entity | [3] | 14,000 | ||
Other | [3] | 48,000 | 3,000 | |
Liabilities: | ||||
Trading liabilities | ||||
Recurring [Member] | Level 3 [Member] | Real estate-backed securities [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 94,000 | 69,000 | |
Recurring [Member] | Level 3 [Member] | Collateralized debt obligations ("CDOs") and other [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3],[14] | 32,000 | 19,000 | |
Liabilities: | ||||
Trading liabilities | [14] | 1,000 | ||
Recurring [Member] | Level 3 [Member] | Investment trust funds and other [Member] | ||||
Assets: | ||||
Trading assets and private equity investments | [3] | 0 | 1,000 | |
Liabilities: | ||||
Trading liabilities | 0 | |||
Recurring [Member] | Level 3 [Member] | Equity contracts [Member] | ||||
Assets: | ||||
Derivative assets | [4] | 48,000 | 44,000 | |
Liabilities: | ||||
Derivative liabilities | [4] | 29,000 | 52,000 | |
Recurring [Member] | Level 3 [Member] | Interest rate contracts [Member] | ||||
Assets: | ||||
Derivative assets | [4] | 23,000 | 10,000 | |
Liabilities: | ||||
Derivative liabilities | [4] | 77,000 | 64,000 | |
Recurring [Member] | Level 3 [Member] | Credit contracts [Member] | ||||
Assets: | ||||
Derivative assets | [4] | 86,000 | 31,000 | |
Liabilities: | ||||
Derivative liabilities | [4] | 87,000 | 39,000 | |
Recurring [Member] | Level 3 [Member] | Foreign exchange contracts [Member] | ||||
Assets: | ||||
Derivative assets | [4] | 41,000 | 42,000 | |
Liabilities: | ||||
Derivative liabilities | [4] | 34,000 | 22,000 | |
Recurring [Member] | Level 3 [Member] | Commodity contracts [Member] | ||||
Assets: | ||||
Derivative assets | [4] | |||
Liabilities: | ||||
Derivative liabilities | [4] | 0 | ||
Recurring [Member] | Level 3 [Member] | Non-trading debt securities [Member] | ||||
Assets: | ||||
Other assets | ||||
Recurring [Member] | Level 3 [Member] | Other [Member] | ||||
Assets: | ||||
Other assets | [3],[12] | ¥ 168,000 | ¥ 166,000 | |
[1] | Includes the amount of embedded derivatives bifurcated in accordance with ASC 815. | |||
[2] | Represents amounts offset through counterparty netting of derivative assets and liabilities as well as cash collateral netting against net derivatives under master netting and similar agreements for which Nomura has obtained sufficient evidence of enforceability in accordance with ASC 815. As of March 31, 2019, Nomura offset a total of ¥1,259 billion of cash collateral receivables against net derivative liabilities and ¥1,626 billion of cash collateral payables against net derivative assets. As of March 31, 2020, Nomura offset a total of ¥1,679 billion of cash collateral receivables against net derivative liabilities and ¥1,940 billion of cash collateral payables against net derivative assets. | |||
[3] | Certain investments that are measured at fair value using net asset value per share as a practical expedient have not been classified in the fair value hierarchy. As of March 31, 2019 and March 31, 2020, the fair values of these investments which are included in Trading assets and private equity and debt investments were ¥36 billion and ¥26 billion, respectively. As of March 31, 2019 and March 31, 2020, the fair values of these investments which are included in Other assets—Others were ¥2 billion and ¥6 billion, respectively. | |||
[4] | Each derivative classification includes derivatives with multiple risk underlyings. For example, interest rate contracts include complex derivatives referencing interest rate risk as well as foreign exchange risk or other factors such as prepayment rates. Credit contracts include credit default swaps as well as derivatives referencing corporate and government debt securities. | |||
[5] | Includes loans for which the fair value option has been elected. | |||
[6] | Includes collateralized agreements or collateralized financing for which the fair value option has been elected. | |||
[7] | Includes structured notes for which the fair value option has been elected. | |||
[8] | Includes embedded derivatives bifurcated from deposits received at banks. If unrealized gains are greater than unrealized losses, deposits are reduced by the excess amount. | |||
[9] | Includes embedded derivatives bifurcated from issued structured notes. If unrealized gains are greater than unrealized losses, borrowings are reduced by the excess amount. | |||
[10] | Includes liabilities recognized from secured financing transactions that are accounted for as financings rather than sales. Nomura elected the fair value option for these liabilities. | |||
[11] | Includes loan commitments for which the fair value option has been elected. | |||
[12] | Includes equity investments that would have been accounted for under the equity method had Nomura not chosen to elect the fair value option. | |||
[13] | Private equity and debt investments are typically private non-traded financial instruments including ownership or other forms of junior capital (such as mezzanine loan). Includes equity investments that would have been accounted for under the equity method had Nomura not chosen to elect the fair value option. | |||
[14] | Includes collateralized loan obligations (“CLOs”) and asset-backed securities (“ABS”) such as those secured on credit card loans, auto loans and student loans. | |||
[15] | Represents the amount offset under counterparty netting of derivative assets and liabilities as well as cash collateral netting against net derivatives. |
Fair value measurements - Fai_2
Fair value measurements - Fair value of financial instruments measured on recurring basis (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | |
Fair value measurements | |||
Other assets | ¥ 827,022 | ¥ 748,091 | |
Recurring [Member] | |||
Fair value measurements | |||
Trading assets and private equity investments | [1] | 14,930,000 | 13,498,000 |
Recurring [Member] | Other [Member] | |||
Fair value measurements | |||
Other assets | [1],[2] | 566,000 | 592,000 |
Recurring [Member] | Net asset value per share [Member] | |||
Fair value measurements | |||
Trading assets and private equity investments | 26,000 | 36,000 | |
Recurring [Member] | Net asset value per share [Member] | Other [Member] | |||
Fair value measurements | |||
Other assets | ¥ 6,000 | ¥ 2,000 | |
[1] | Certain investments that are measured at fair value using net asset value per share as a practical expedient have not been classified in the fair value hierarchy. As of March 31, 2019 and March 31, 2020, the fair values of these investments which are included in Trading assets and private equity and debt investments were ¥36 billion and ¥26 billion, respectively. As of March 31, 2019 and March 31, 2020, the fair values of these investments which are included in Other assets—Others were ¥2 billion and ¥6 billion, respectively. | ||
[2] | Includes equity investments that would have been accounted for under the equity method had Nomura not chosen to elect the fair value option. |
Fair value measurements - Addit
Fair value measurements - Additional information (Detail) - JPY (¥) ¥ in Billions | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Transfers out of / into Level 3 | ||
Differences between the fair value of the aggregate unpaid principal balance (which is contractually principally protected) of loans and receivables, more (less) than the principal balance of such loans and receivables | ¥ 8 | ¥ 0 |
Differences between the fair value of the aggregate unpaid principal balance (which is contractually principally protected) of long-term borrowings more (less) than the principal balance of such long-term borrowings | ¥ 27 | ¥ 50 |
Concentrations of credit risk, percentage | 16.00% | 16.00% |
American Century Companies, Inc. [Member] | ||
Transfers out of / into Level 3 | ||
Percentage of economic interest | 39.19% | 39.52% |
Fair value measurements - Sched
Fair value measurements - Schedule of quantitative and qualitative information regarding significant unobservable inputs (Detail) - Recurring [Member] - Level 3 [Member] ¥ in Billions | 12 Months Ended | ||||||
Mar. 31, 2020JPY (¥) | Mar. 31, 2019JPY (¥) | Mar. 31, 2018JPY (¥) | |||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Fair Value, Financial Instrument, Assets | ¥ 722 | ¥ 577 | ¥ 479 | ||||
Fair Value, Financial Instrument, Liabilities | 441 | 566 | 450 | ||||
Trading assets and private equity investments [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Fair Value, Financial Instrument, Assets | 472 | 299 | 260 | ||||
Trading assets and private equity investments [Member] | Equities [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Fair Value, Financial Instrument, Assets | ¥ 14 | ¥ 13 | 21 | ||||
Trading assets and private equity investments [Member] | Equities [Member] | DCF [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Interrelationships between valuation inputs | [1] | Not applicable | Not applicable | ||||
Trading assets and private equity investments [Member] | Equities [Member] | DCF [Member] | Liquidity discounts [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0.750 | 0.750 | ||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Lower fair value | Lower fair value | ||||
Trading assets and private equity investments [Member] | Equities [Member] | DCF [Member] | Liquidity discounts [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [5] | 0.750 | 0.750 | ||||
Trading assets and private equity investments [Member] | Equities [Member] | Market multiples [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Interrelationships between valuation inputs | [1] | Not applicable | |||||
Trading assets and private equity investments [Member] | Equities [Member] | Market multiples [Member] | Liquidity discounts [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0.200 | |||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Lower fair value | |||||
Trading assets and private equity investments [Member] | Equities [Member] | Market multiples [Member] | Liquidity discounts [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [5] | 0.200 | |||||
Trading assets and private equity investments [Member] | Private equity and debt investments [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Fair Value, Financial Instrument, Assets | ¥ 31 | ¥ 26 | 3 | ||||
Trading assets and private equity investments [Member] | Private equity and debt investments [Member] | DCF [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Interrelationships between valuation inputs | [1] | No predictable interrelationship | |||||
Trading assets and private equity investments [Member] | Private equity and debt investments [Member] | DCF [Member] | WACC [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Lower fair value | |||||
Trading assets and private equity investments [Member] | Private equity and debt investments [Member] | DCF [Member] | WACC [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0.070 | |||||
Trading assets and private equity investments [Member] | Private equity and debt investments [Member] | DCF [Member] | WACC [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0.135 | |||||
Trading assets and private equity investments [Member] | Private equity and debt investments [Member] | DCF [Member] | WACC [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [5] | 0.100 | |||||
Trading assets and private equity investments [Member] | Private equity and debt investments [Member] | DCF [Member] | Growth rates [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Higher fair value | |||||
Trading assets and private equity investments [Member] | Private equity and debt investments [Member] | DCF [Member] | Growth rates [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0 | |||||
Trading assets and private equity investments [Member] | Private equity and debt investments [Member] | DCF [Member] | Growth rates [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0.010 | |||||
Trading assets and private equity investments [Member] | Private equity and debt investments [Member] | DCF [Member] | Growth rates [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [5] | 0.006 | |||||
Trading assets and private equity investments [Member] | Private equity and debt investments [Member] | DCF [Member] | Liquidity discounts [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Lower fair value | |||||
Trading assets and private equity investments [Member] | Private equity and debt investments [Member] | DCF [Member] | Liquidity discounts [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0.050 | |||||
Trading assets and private equity investments [Member] | Private equity and debt investments [Member] | DCF [Member] | Liquidity discounts [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0.300 | |||||
Trading assets and private equity investments [Member] | Private equity and debt investments [Member] | DCF [Member] | Liquidity discounts [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [5] | 0.099 | |||||
Trading assets and private equity investments [Member] | Private equity and debt investments [Member] | Market multiples [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Interrelationships between valuation inputs | [1] | No predictable interrelationship | Not applicable | ||||
Trading assets and private equity investments [Member] | Private equity and debt investments [Member] | Market multiples [Member] | EV/EBITDA ratios [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 7.7 | |||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Higher fair value | Higher fair value | ||||
Trading assets and private equity investments [Member] | Private equity and debt investments [Member] | Market multiples [Member] | EV/EBITDA ratios [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 1 | |||||
Trading assets and private equity investments [Member] | Private equity and debt investments [Member] | Market multiples [Member] | EV/EBITDA ratios [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 11 | |||||
Trading assets and private equity investments [Member] | Private equity and debt investments [Member] | Market multiples [Member] | EV/EBITDA ratios [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [5] | 8.9 | 7.7 | ||||
Trading assets and private equity investments [Member] | Private equity and debt investments [Member] | Market multiples [Member] | PE ratios [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 9.6 | |||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Higher fair value | |||||
Trading assets and private equity investments [Member] | Private equity and debt investments [Member] | Market multiples [Member] | PE ratios [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [5] | 9.6 | |||||
Trading assets and private equity investments [Member] | Private equity and debt investments [Member] | Market multiples [Member] | Liquidity discounts [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Lower fair value | |||||
Trading assets and private equity investments [Member] | Private equity and debt investments [Member] | Market multiples [Member] | Liquidity discounts [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0.050 | |||||
Trading assets and private equity investments [Member] | Private equity and debt investments [Member] | Market multiples [Member] | Liquidity discounts [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0.300 | |||||
Trading assets and private equity investments [Member] | Private equity and debt investments [Member] | Market multiples [Member] | Liquidity discounts [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [5] | 0.098 | |||||
Trading assets and private equity investments [Member] | Foreign government, agency and municipal securities [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Fair Value, Financial Instrument, Assets | ¥ 8 | ¥ 5 | 6 | ||||
Trading assets and private equity investments [Member] | Foreign government, agency and municipal securities [Member] | DCF [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Interrelationships between valuation inputs | [1] | No predictable interrelationship | No predictable interrelationship | ||||
Trading assets and private equity investments [Member] | Foreign government, agency and municipal securities [Member] | DCF [Member] | Credit spreads [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Lower fair value | Lower fair value | ||||
Trading assets and private equity investments [Member] | Foreign government, agency and municipal securities [Member] | DCF [Member] | Credit spreads [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0 | 0 | ||||
Trading assets and private equity investments [Member] | Foreign government, agency and municipal securities [Member] | DCF [Member] | Credit spreads [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0.014 | 0.091 | ||||
Trading assets and private equity investments [Member] | Foreign government, agency and municipal securities [Member] | DCF [Member] | Credit spreads [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [5] | 0.005 | 0.006 | ||||
Trading assets and private equity investments [Member] | Foreign government, agency and municipal securities [Member] | DCF [Member] | Recovery rates [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Higher fair value | Higher fair value | ||||
Trading assets and private equity investments [Member] | Foreign government, agency and municipal securities [Member] | DCF [Member] | Recovery rates [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0.040 | 0.040 | ||||
Trading assets and private equity investments [Member] | Foreign government, agency and municipal securities [Member] | DCF [Member] | Recovery rates [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0.180 | 0.360 | ||||
Trading assets and private equity investments [Member] | Foreign government, agency and municipal securities [Member] | DCF [Member] | Recovery rates [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [5] | 0.108 | 0.316 | ||||
Trading assets and private equity investments [Member] | Bank and corporate debt securities and loans for trading purposes [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Fair Value, Financial Instrument, Assets | ¥ 228 | ¥ 160 | 139 | ||||
Trading assets and private equity investments [Member] | Bank and corporate debt securities and loans for trading purposes [Member] | DCF [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Interrelationships between valuation inputs | [1] | No predictable interrelationship | No predictable interrelationship | ||||
Trading assets and private equity investments [Member] | Bank and corporate debt securities and loans for trading purposes [Member] | DCF [Member] | Credit spreads [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Lower fair value | Lower fair value | ||||
Trading assets and private equity investments [Member] | Bank and corporate debt securities and loans for trading purposes [Member] | DCF [Member] | Credit spreads [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0 | 0 | ||||
Trading assets and private equity investments [Member] | Bank and corporate debt securities and loans for trading purposes [Member] | DCF [Member] | Credit spreads [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0.179 | 0.150 | ||||
Trading assets and private equity investments [Member] | Bank and corporate debt securities and loans for trading purposes [Member] | DCF [Member] | Credit spreads [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [5] | 0.058 | 0.041 | ||||
Trading assets and private equity investments [Member] | Bank and corporate debt securities and loans for trading purposes [Member] | DCF [Member] | Recovery rates [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Higher fair value | Higher fair value | ||||
Trading assets and private equity investments [Member] | Bank and corporate debt securities and loans for trading purposes [Member] | DCF [Member] | Recovery rates [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0 | 0 | ||||
Trading assets and private equity investments [Member] | Bank and corporate debt securities and loans for trading purposes [Member] | DCF [Member] | Recovery rates [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0.807 | 0.991 | ||||
Trading assets and private equity investments [Member] | Bank and corporate debt securities and loans for trading purposes [Member] | DCF [Member] | Recovery rates [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [5] | 0.438 | 0.722 | ||||
Trading assets and private equity investments [Member] | Residential mortgage-backed securities ("RMBS") [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Fair Value, Financial Instrument, Assets | ¥ 62 | ¥ 3 | 0 | ||||
Trading assets and private equity investments [Member] | Residential mortgage-backed securities ("RMBS") [Member] | DCF [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Interrelationships between valuation inputs | [1] | No predictable interrelationship | No predictable interrelationship | ||||
Trading assets and private equity investments [Member] | Residential mortgage-backed securities ("RMBS") [Member] | DCF [Member] | Yields [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Lower fair value | Lower fair value | ||||
Trading assets and private equity investments [Member] | Residential mortgage-backed securities ("RMBS") [Member] | DCF [Member] | Yields [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0 | 0 | ||||
Trading assets and private equity investments [Member] | Residential mortgage-backed securities ("RMBS") [Member] | DCF [Member] | Yields [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0.308 | 0.784 | ||||
Trading assets and private equity investments [Member] | Residential mortgage-backed securities ("RMBS") [Member] | DCF [Member] | Yields [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [5] | 0.067 | 0.132 | ||||
Trading assets and private equity investments [Member] | Residential mortgage-backed securities ("RMBS") [Member] | DCF [Member] | Prepayment rates [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Lower fair value | Lower fair value | ||||
Trading assets and private equity investments [Member] | Residential mortgage-backed securities ("RMBS") [Member] | DCF [Member] | Prepayment rates [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0.071 | 0.065 | ||||
Trading assets and private equity investments [Member] | Residential mortgage-backed securities ("RMBS") [Member] | DCF [Member] | Prepayment rates [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0.150 | 0.150 | ||||
Trading assets and private equity investments [Member] | Residential mortgage-backed securities ("RMBS") [Member] | DCF [Member] | Prepayment rates [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [5] | 0.089 | 0.105 | ||||
Trading assets and private equity investments [Member] | Residential mortgage-backed securities ("RMBS") [Member] | DCF [Member] | Loss severities [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Lower fair value | Lower fair value | ||||
Trading assets and private equity investments [Member] | Residential mortgage-backed securities ("RMBS") [Member] | DCF [Member] | Loss severities [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0 | 0.091 | ||||
Trading assets and private equity investments [Member] | Residential mortgage-backed securities ("RMBS") [Member] | DCF [Member] | Loss severities [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 1 | 1 | ||||
Trading assets and private equity investments [Member] | Residential mortgage-backed securities ("RMBS") [Member] | DCF [Member] | Loss severities [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [5] | 0.406 | 0.811 | ||||
Trading assets and private equity investments [Member] | Real estate-backed securities [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Fair Value, Financial Instrument, Assets | ¥ 94 | ¥ 69 | 63 | ||||
Trading assets and private equity investments [Member] | Real estate-backed securities [Member] | DCF [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Interrelationships between valuation inputs | [1] | Not applicable | No predictable interrelationship | ||||
Trading assets and private equity investments [Member] | Real estate-backed securities [Member] | DCF [Member] | Yields [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Lower fair value | |||||
Trading assets and private equity investments [Member] | Real estate-backed securities [Member] | DCF [Member] | Yields [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0.055 | |||||
Trading assets and private equity investments [Member] | Real estate-backed securities [Member] | DCF [Member] | Yields [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0.197 | |||||
Trading assets and private equity investments [Member] | Real estate-backed securities [Member] | DCF [Member] | Yields [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [5] | 0.125 | |||||
Trading assets and private equity investments [Member] | Real estate-backed securities [Member] | DCF [Member] | Loss severities [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Lower fair value | Lower fair value | ||||
Trading assets and private equity investments [Member] | Real estate-backed securities [Member] | DCF [Member] | Loss severities [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0 | 0 | ||||
Trading assets and private equity investments [Member] | Real estate-backed securities [Member] | DCF [Member] | Loss severities [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0.081 | 0.552 | ||||
Trading assets and private equity investments [Member] | Real estate-backed securities [Member] | DCF [Member] | Loss severities [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [5] | 0.034 | 0.066 | ||||
Trading assets and private equity investments [Member] | Collateralized debt obligations ("CDOs") and other [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Fair Value, Financial Instrument, Assets | ¥ 32 | ¥ 19 | 24 | ||||
Trading assets and private equity investments [Member] | Collateralized debt obligations ("CDOs") and other [Member] | DCF [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Interrelationships between valuation inputs | [1] | Change in default probabilities typically accompanied by directionally similar change in loss severities and opposite change in prepayment rates | Change in default probabilities typically accompanied by directionally similar change in loss severities and opposite change in prepayment rates | ||||
Trading assets and private equity investments [Member] | Collateralized debt obligations ("CDOs") and other [Member] | DCF [Member] | Yields [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Lower fair value | Lower fair value | ||||
Trading assets and private equity investments [Member] | Collateralized debt obligations ("CDOs") and other [Member] | DCF [Member] | Yields [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0.064 | 0.027 | ||||
Trading assets and private equity investments [Member] | Collateralized debt obligations ("CDOs") and other [Member] | DCF [Member] | Yields [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0.568 | 0.190 | ||||
Trading assets and private equity investments [Member] | Collateralized debt obligations ("CDOs") and other [Member] | DCF [Member] | Yields [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [5] | 0.216 | 0.131 | ||||
Trading assets and private equity investments [Member] | Collateralized debt obligations ("CDOs") and other [Member] | DCF [Member] | Prepayment rates [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0.200 | 0.200 | ||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Lower fair value | Lower fair value | ||||
Trading assets and private equity investments [Member] | Collateralized debt obligations ("CDOs") and other [Member] | DCF [Member] | Prepayment rates [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [5] | 0.200 | 0.200 | ||||
Trading assets and private equity investments [Member] | Collateralized debt obligations ("CDOs") and other [Member] | DCF [Member] | Default probabilities [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0.020 | |||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Lower fair value | Lower fair value | ||||
Trading assets and private equity investments [Member] | Collateralized debt obligations ("CDOs") and other [Member] | DCF [Member] | Default probabilities [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0.010 | |||||
Trading assets and private equity investments [Member] | Collateralized debt obligations ("CDOs") and other [Member] | DCF [Member] | Default probabilities [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0.020 | |||||
Trading assets and private equity investments [Member] | Collateralized debt obligations ("CDOs") and other [Member] | DCF [Member] | Default probabilities [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [5] | 0.020 | 0.020 | ||||
Trading assets and private equity investments [Member] | Collateralized debt obligations ("CDOs") and other [Member] | DCF [Member] | Loss severities [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Lower fair value | Lower fair value | ||||
Trading assets and private equity investments [Member] | Collateralized debt obligations ("CDOs") and other [Member] | DCF [Member] | Loss severities [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 0 | 0.315 | ||||
Trading assets and private equity investments [Member] | Collateralized debt obligations ("CDOs") and other [Member] | DCF [Member] | Loss severities [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [2] | 1 | 1 | ||||
Trading assets and private equity investments [Member] | Collateralized debt obligations ("CDOs") and other [Member] | DCF [Member] | Loss severities [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Trading assets and private equity and debt investments | [5] | 0.730 | 0.837 | ||||
Equity contracts [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Fair Value, Financial Instrument, Assets | ¥ 19 | ¥ (8) | [6] | (1) | [6] | ||
Equity contracts [Member] | Option models [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Interrelationships between valuation inputs | [1] | No predictable interrelationship | No predictable interrelationship | ||||
Equity contracts [Member] | Option models [Member] | Dividend yield [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Higher fair value | Higher fair value | ||||
Equity contracts [Member] | Option models [Member] | Dividend yield [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 0 | 0 | ||||
Equity contracts [Member] | Option models [Member] | Dividend yield [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 0.187 | 0.080 | ||||
Equity contracts [Member] | Option models [Member] | Dividend yield [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [5] | ||||||
Equity contracts [Member] | Option models [Member] | Volatilities [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Higher fair value | Higher fair value | ||||
Equity contracts [Member] | Option models [Member] | Volatilities [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 0.122 | 0.067 | ||||
Equity contracts [Member] | Option models [Member] | Volatilities [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 1.447 | 0.742 | ||||
Equity contracts [Member] | Option models [Member] | Volatilities [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [5] | ||||||
Equity contracts [Member] | Option models [Member] | Correlations [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Higher fair value | Higher fair value | ||||
Equity contracts [Member] | Option models [Member] | Correlations [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | (0.85) | (0.80) | ||||
Equity contracts [Member] | Option models [Member] | Correlations [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 0.97 | 0.98 | ||||
Equity contracts [Member] | Option models [Member] | Correlations [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [5] | ||||||
Interest rate contracts [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Fair Value, Financial Instrument, Assets | ¥ (54) | ¥ (54) | [6] | (53) | [6] | ||
Interest rate contracts [Member] | DCF / Option models [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Interrelationships between valuation inputs | [1] | No predictable interrelationship | No predictable interrelationship | ||||
Interest rate contracts [Member] | DCF / Option models [Member] | Interest rates [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Higher fair value | Higher fair value | ||||
Interest rate contracts [Member] | DCF / Option models [Member] | Interest rates [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | (0.001) | 0 | ||||
Interest rate contracts [Member] | DCF / Option models [Member] | Interest rates [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 0.020 | 0.024 | ||||
Interest rate contracts [Member] | DCF / Option models [Member] | Interest rates [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [5] | ||||||
Interest rate contracts [Member] | DCF / Option models [Member] | Volatilities [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Higher fair value | Higher fair value | ||||
Interest rate contracts [Member] | DCF / Option models [Member] | Volatilities [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 0.088 | 0.106 | ||||
Interest rate contracts [Member] | DCF / Option models [Member] | Volatilities [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 0.138 | 0.152 | ||||
Interest rate contracts [Member] | DCF / Option models [Member] | Volatilities [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [5] | ||||||
Interest rate contracts [Member] | DCF / Option models [Member] | Volatilities [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Higher fair value | Higher fair value | ||||
Interest rate contracts [Member] | DCF / Option models [Member] | Volatilities [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 0.246 | 0.242 | ||||
Interest rate contracts [Member] | DCF / Option models [Member] | Volatilities [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 1.194 | 0.668 | ||||
Interest rate contracts [Member] | DCF / Option models [Member] | Volatilities [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [5] | ||||||
Interest rate contracts [Member] | DCF / Option models [Member] | Correlations [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Higher fair value | Higher fair value | ||||
Interest rate contracts [Member] | DCF / Option models [Member] | Correlations [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | (1) | (0.76) | ||||
Interest rate contracts [Member] | DCF / Option models [Member] | Correlations [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 0.98 | 1 | ||||
Interest rate contracts [Member] | DCF / Option models [Member] | Correlations [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [5] | ||||||
Credit contracts [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Fair Value, Financial Instrument, Assets | ¥ (1) | ¥ (8) | [6] | 2 | [6] | ||
Credit contracts [Member] | DCF / Option models [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Interrelationships between valuation inputs | [1] | No predictable interrelationship | No predictable interrelationship | ||||
Credit contracts [Member] | DCF / Option models [Member] | Credit spreads [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Higher fair value | Higher fair value | ||||
Credit contracts [Member] | DCF / Option models [Member] | Credit spreads [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 0.001 | 0 | ||||
Credit contracts [Member] | DCF / Option models [Member] | Credit spreads [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 0.284 | 0.214 | ||||
Credit contracts [Member] | DCF / Option models [Member] | Credit spreads [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [5] | ||||||
Credit contracts [Member] | DCF / Option models [Member] | Recovery rates [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Higher fair value | Higher fair value | ||||
Credit contracts [Member] | DCF / Option models [Member] | Recovery rates [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 0 | 0 | ||||
Credit contracts [Member] | DCF / Option models [Member] | Recovery rates [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 1.054 | 1.006 | ||||
Credit contracts [Member] | DCF / Option models [Member] | Recovery rates [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [5] | ||||||
Credit contracts [Member] | DCF / Option models [Member] | Volatilities [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Higher fair value | |||||
Credit contracts [Member] | DCF / Option models [Member] | Volatilities [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 0.162 | |||||
Credit contracts [Member] | DCF / Option models [Member] | Volatilities [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 0.830 | |||||
Credit contracts [Member] | DCF / Option models [Member] | Volatilities [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [5] | ||||||
Credit contracts [Member] | DCF / Option models [Member] | Volatilities [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Higher fair value | |||||
Credit contracts [Member] | DCF / Option models [Member] | Volatilities [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 0.500 | |||||
Credit contracts [Member] | DCF / Option models [Member] | Volatilities [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 0.830 | |||||
Credit contracts [Member] | DCF / Option models [Member] | Volatilities [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [5] | ||||||
Credit contracts [Member] | DCF / Option models [Member] | Correlations [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Higher fair value | Higher fair value | ||||
Credit contracts [Member] | DCF / Option models [Member] | Correlations [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 0.16 | 0.27 | ||||
Credit contracts [Member] | DCF / Option models [Member] | Correlations [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 0.82 | 0.75 | ||||
Credit contracts [Member] | DCF / Option models [Member] | Correlations [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [5] | ||||||
Foreign exchange contracts [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Fair Value, Financial Instrument, Assets | ¥ 7 | ¥ 20 | [6] | 27 | [6] | ||
Foreign exchange contracts [Member] | Option models [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Interrelationships between valuation inputs | [1] | No predictable interrelationship | No predictable interrelationship | ||||
Foreign exchange contracts [Member] | Option models [Member] | Interest rates [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | Higher fair value | Higher fair value | [3],[4] | ||||
Foreign exchange contracts [Member] | Option models [Member] | Interest rates [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | (0.001) | (0.004) | ||||
Foreign exchange contracts [Member] | Option models [Member] | Interest rates [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 0.008 | 0.024 | ||||
Foreign exchange contracts [Member] | Option models [Member] | Interest rates [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [5] | ||||||
Foreign exchange contracts [Member] | Option models [Member] | Volatilities [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | Higher fair value | Higher fair value | [3],[4] | ||||
Foreign exchange contracts [Member] | Option models [Member] | Volatilities [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 0.020 | 0.017 | ||||
Foreign exchange contracts [Member] | Option models [Member] | Volatilities [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 0.239 | 0.355 | ||||
Foreign exchange contracts [Member] | Option models [Member] | Volatilities [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [5] | ||||||
Foreign exchange contracts [Member] | Option models [Member] | Volatilities [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | Higher fair value | Higher fair value | [3],[4] | ||||
Foreign exchange contracts [Member] | Option models [Member] | Volatilities [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 0.192 | 2.090 | ||||
Foreign exchange contracts [Member] | Option models [Member] | Volatilities [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 0.507 | 2.450 | ||||
Foreign exchange contracts [Member] | Option models [Member] | Volatilities [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [5] | ||||||
Foreign exchange contracts [Member] | Option models [Member] | Correlations [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | Higher fair value | Higher fair value | [3],[4] | ||||
Foreign exchange contracts [Member] | Option models [Member] | Correlations [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | (0.25) | (0.25) | ||||
Foreign exchange contracts [Member] | Option models [Member] | Correlations [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [2] | 0.80 | 0.80 | ||||
Foreign exchange contracts [Member] | Option models [Member] | Correlations [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Derivatives, net | [5] | ||||||
Loans and receivables [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Fair Value, Financial Instrument, Assets | ¥ 96 | ¥ 129 | 70 | ||||
Loans and receivables [Member] | DCF [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Interrelationships between valuation inputs | [1] | No predictable interrelationship | Not applicable | ||||
Loans and receivables [Member] | DCF [Member] | Credit spreads [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Lower fair value | Lower fair value | ||||
Loans and receivables [Member] | DCF [Member] | Credit spreads [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Loans and receivables | [2] | 0 | 0 | ||||
Loans and receivables [Member] | DCF [Member] | Credit spreads [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Loans and receivables | [2] | 0.205 | 0.123 | ||||
Loans and receivables [Member] | DCF [Member] | Credit spreads [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Loans and receivables | [5] | 0.042 | 0.036 | ||||
Loans and receivables [Member] | DCF [Member] | Recovery rates [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Higher fair value | |||||
Loans and receivables [Member] | DCF [Member] | Recovery rates [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Loans and receivables | [2] | 0.575 | |||||
Loans and receivables [Member] | DCF [Member] | Recovery rates [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Loans and receivables | [2] | 0.980 | |||||
Loans and receivables [Member] | DCF [Member] | Recovery rates [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Loans and receivables | [5] | 0.850 | |||||
Collateralized agreements [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Fair Value, Financial Instrument, Assets | ¥ 15 | ¥ 33 | 5 | ||||
Collateralized agreements [Member] | DCF [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Interrelationships between valuation inputs | [1] | Not applicable | Not applicable | ||||
Collateralized agreements [Member] | DCF [Member] | Repo rate [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Lower fair value | Lower fair value | ||||
Collateralized agreements [Member] | DCF [Member] | Repo rate [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Collateralized agreements | [2] | 0.038 | 0.035 | ||||
Collateralized agreements [Member] | DCF [Member] | Repo rate [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Collateralized agreements | [2] | 0.056 | 0.084 | ||||
Collateralized agreements [Member] | DCF [Member] | Repo rate [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Collateralized agreements | 0.049 | 0.070 | [5] | ||||
Other [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Fair Value, Financial Instrument, Assets | ¥ 168 | [7] | ¥ 166 | 169 | |||
Other [Member] | DCF [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Interrelationships between valuation inputs | [1],[7] | No predictable interrelationship | No predictable interrelationship | ||||
Other [Member] | DCF [Member] | WACC [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Other assets | [2],[7] | 0.101 | 0.102 | ||||
Impact of increases in significant unobservable valuation inputs | [3],[4],[7] | Lower fair value | Lower fair value | ||||
Other [Member] | DCF [Member] | WACC [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Other assets | [5],[7] | 0.101 | 0.102 | ||||
Other [Member] | DCF [Member] | Growth rates [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Other assets | [2],[7] | 0.020 | 0.025 | ||||
Impact of increases in significant unobservable valuation inputs | [3],[4],[7] | Higher fair value | Higher fair value | ||||
Other [Member] | DCF [Member] | Growth rates [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Other assets | [5],[7] | 0.020 | 0.025 | ||||
Other [Member] | DCF [Member] | Liquidity discounts [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Other assets | [2],[7] | 0.100 | 0.100 | ||||
Impact of increases in significant unobservable valuation inputs | [3],[4],[7] | Lower fair value | Lower fair value | ||||
Other [Member] | DCF [Member] | Liquidity discounts [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Other assets | [5],[7] | 0.100 | 0.100 | ||||
Other [Member] | Market multiples [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Interrelationships between valuation inputs | [1],[7] | Generally changes in multiples result in a corresponding similar directional change in a fair value measurement, assuming earnings levels remain constant. | Generally changes in multiples result in a corresponding similar directional change in a fair value measurement, assuming earnings levels remain constant. | ||||
Other [Member] | Market multiples [Member] | EV/EBITDA ratios [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4],[7] | Higher fair value | Higher fair value | ||||
Other [Member] | Market multiples [Member] | EV/EBITDA ratios [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Other assets | [2],[7] | 3.9 | 4.7 | ||||
Other [Member] | Market multiples [Member] | EV/EBITDA ratios [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Other assets | [2],[7] | 10.3 | 13.8 | ||||
Other [Member] | Market multiples [Member] | EV/EBITDA ratios [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Other assets | [5],[7] | 4.6 | 8.2 | ||||
Other [Member] | Market multiples [Member] | PE ratios [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4],[7] | Higher fair value | Higher fair value | ||||
Other [Member] | Market multiples [Member] | PE ratios [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Other assets | [2],[7] | 6.3 | 8.9 | ||||
Other [Member] | Market multiples [Member] | PE ratios [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Other assets | [2],[7] | 20.7 | 32.4 | ||||
Other [Member] | Market multiples [Member] | PE ratios [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Other assets | [5],[7] | 11.4 | 15.5 | ||||
Other [Member] | Market multiples [Member] | Price/Book ratios [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4],[7] | Higher fair value | Higher fair value | ||||
Other [Member] | Market multiples [Member] | Price/Book ratios [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Other assets | [2],[7] | 0.3 | 0.3 | ||||
Other [Member] | Market multiples [Member] | Price/Book ratios [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Other assets | [2],[7] | 1.3 | 2.7 | ||||
Other [Member] | Market multiples [Member] | Price/Book ratios [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Other assets | [5],[7] | 0.8 | 0.8 | ||||
Other [Member] | Market multiples [Member] | Liquidity discounts [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4],[7] | Lower fair value | Lower fair value | ||||
Other [Member] | Market multiples [Member] | Liquidity discounts [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Other assets | [2],[7] | 0.100 | 0.100 | ||||
Other [Member] | Market multiples [Member] | Liquidity discounts [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Other assets | [2],[7] | 0.400 | 0.500 | ||||
Other [Member] | Market multiples [Member] | Liquidity discounts [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Other assets | [5],[7] | 0.286 | 0.306 | ||||
Short-term borrowings [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Fair Value, Financial Instrument, Liabilities | ¥ 29 | ¥ 31 | 17 | ||||
Short-term borrowings [Member] | DCF / Option models [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Interrelationships between valuation inputs | [1] | No predictable interrelationship | No predictable interrelationship | ||||
Short-term borrowings [Member] | DCF / Option models [Member] | Volatilities [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Higher fair value | Higher fair value | ||||
Short-term borrowings [Member] | DCF / Option models [Member] | Volatilities [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Short-term borrowings | 0.126 | 0.067 | [2] | ||||
Short-term borrowings [Member] | DCF / Option models [Member] | Volatilities [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Short-term borrowings | 0.764 | 0.545 | [2] | ||||
Short-term borrowings [Member] | DCF / Option models [Member] | Volatilities [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Short-term borrowings | [5] | ||||||
Short-term borrowings [Member] | DCF / Option models [Member] | Correlations [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Higher fair value | Higher fair value | ||||
Short-term borrowings [Member] | DCF / Option models [Member] | Correlations [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Short-term borrowings | (0.72) | (0.75) | [2] | ||||
Short-term borrowings [Member] | DCF / Option models [Member] | Correlations [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Short-term borrowings | 0.94 | 0.91 | [2] | ||||
Short-term borrowings [Member] | DCF / Option models [Member] | Correlations [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Short-term borrowings | [5] | ||||||
Long-term borrowings [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Fair Value, Financial Instrument, Liabilities | ¥ 409 | ¥ 535 | ¥ 429 | ||||
Long-term borrowings [Member] | DCF / Option models [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Interrelationships between valuation inputs | [1] | No predictable interrelationship | No predictable interrelationship | ||||
Long-term borrowings [Member] | DCF / Option models [Member] | Volatilities [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Higher fair value | Higher fair value | ||||
Long-term borrowings [Member] | DCF / Option models [Member] | Volatilities [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Long-term borrowings | [2] | 0.086 | 0.067 | ||||
Long-term borrowings [Member] | DCF / Option models [Member] | Volatilities [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Long-term borrowings | [2] | 0.764 | 0.545 | ||||
Long-term borrowings [Member] | DCF / Option models [Member] | Volatilities [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Long-term borrowings | [5] | ||||||
Long-term borrowings [Member] | DCF / Option models [Member] | Volatilities [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Higher fair value | Higher fair value | ||||
Long-term borrowings [Member] | DCF / Option models [Member] | Volatilities [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Long-term borrowings | [2] | 0.300 | 0.325 | ||||
Long-term borrowings [Member] | DCF / Option models [Member] | Volatilities [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Long-term borrowings | [2] | 1.032 | 0.609 | ||||
Long-term borrowings [Member] | DCF / Option models [Member] | Volatilities [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Long-term borrowings | [5] | ||||||
Long-term borrowings [Member] | DCF / Option models [Member] | Correlations [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Impact of increases in significant unobservable valuation inputs | [3],[4] | Higher fair value | Higher fair value | ||||
Long-term borrowings [Member] | DCF / Option models [Member] | Correlations [Member] | Minimum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Long-term borrowings | [2] | (1) | (0.75) | ||||
Long-term borrowings [Member] | DCF / Option models [Member] | Correlations [Member] | Maximum [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Long-term borrowings | [2] | 0.98 | 0.98 | ||||
Long-term borrowings [Member] | DCF / Option models [Member] | Correlations [Member] | Weighted Average [Member] | |||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||
Valuation inputs, Long-term borrowings | [5] | ||||||
[1] | Consideration of the interrelationships between significant unobservable inputs is only relevant where more than one unobservable valuation input is used to determine the fair value measurement of the financial instrument. | ||||||
[2] | Range information is provided in percentages, coefficients and multiples and represents the highest and lowest level significant unobservable valuation input used to value that type of financial instrument. A wide dispersion in the range does not necessarily reflect increased uncertainty or subjectivity in the valuation input and is typically just a consequence of the different characteristics of the financial instruments themselves. | ||||||
[3] | The above table only considers the impact of an increase in each significant unobservable valuation input on the fair value measurement of the financial instrument. However, a decrease in the significant unobservable valuation input would have the opposite effect on the fair value measurement of the financial instrument. For example, if an increase in a significant unobservable valuation input would result in a lower fair value measurement, a decrease in the significant unobservable valuation input would result in a higher fair value measurement. | ||||||
[4] | The impact of an increase in the significant unobservable input on the fair value measurement for a derivative assumes Nomura is long risk to the input e.g., long volatility. Where Nomura is short such risk, the impact of an increase would have a converse effect on the fair value measurement of the derivative. | ||||||
[5] | Weighted average information for non-derivative instruments is calculated by weighting each valuation input by the fair value of the financial instrument. | ||||||
[6] | Each derivative classification includes derivatives with multiple risk underlyings. For example, interest rate contracts include complex derivatives referencing interest rate risk as well as foreign exchange risk or other factors such as prepayment rates. Credit contracts include credit default swaps as well as derivatives referencing corporate and government debt securities. | ||||||
[7] | Valuation technique(s) and unobservable valuation inputs in respect of equity securities reported within Other assets in the consolidated balance sheets. |
Fair value measurements - Sch_2
Fair value measurements - Schedule of movements in Level 3 financial instruments (Detail) - Recurring [Member] - Level 3 [Member] - JPY (¥) ¥ in Billions | 12 Months Ended | ||||
Mar. 31, 2020 | Mar. 31, 2019 | ||||
Assets [Abstract] | |||||
Beginning balance, Assets | ¥ 577 | ¥ 479 | |||
Total gains (losses) recognized in net revenue, Assets | [1] | (36) | (51) | ||
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | |||
Purchases/ issues, Assets | [2] | 896 | 490 | ||
Sales/ redemptions, Assets | [2] | (748) | (448) | ||
Settlements, Assets | (5) | (3) | |||
Foreign exchange movements, Assets | (18) | 18 | |||
Transfers into Level 3, Assets | [3],[4] | 278 | 147 | ||
Transfers out of Level 3, Assets | [4] | (222) | (55) | ||
Ending balance, Assets | 722 | 577 | |||
Liabilities [Abstract] | |||||
Beginning balance, Liabilities | 566 | 450 | |||
Total gains (losses) recognized in net revenue, Liabilities | [1] | (3) | (26) | ||
Total gains (losses) recognized in other comprehensive income, Liabilities | 0 | 2 | |||
Purchases/ issues, Liabilities | [2] | 332 | 254 | ||
Sales/ redemptions, Liabilities | [2] | (363) | (151) | ||
Settlements, Liabilities | 0 | 0 | |||
Foreign exchange movements, Liabilities | (1) | 0 | |||
Transfers into Level 3, Liabilities | [3],[4] | 63 | 100 | ||
Transfers out of Level 3, Liabilities | [4] | (159) | (111) | ||
Ending balance, Liabilities | 441 | 566 | |||
Trading assets and private equity and debt investments [Member] | |||||
Assets [Abstract] | |||||
Beginning balance, Assets | 299 | 260 | |||
Total gains (losses) recognized in net revenue, Assets | [1] | (28) | 6 | ||
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | |||
Purchases/ issues, Assets | [2] | 690 | 431 | ||
Sales/ redemptions, Assets | [2] | (597) | (418) | ||
Settlements, Assets | 0 | 0 | |||
Foreign exchange movements, Assets | (10) | 9 | |||
Transfers into Level 3, Assets | [3],[4] | 172 | 81 | ||
Transfers out of Level 3, Assets | [4] | (54) | (70) | ||
Ending balance, Assets | 472 | 299 | |||
Trading assets and private equity and debt investments [Member] | Equities [Member] | |||||
Assets [Abstract] | |||||
Beginning balance, Assets | 13 | 21 | |||
Total gains (losses) recognized in net revenue, Assets | [1] | (1) | (3) | ||
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | |||
Purchases/ issues, Assets | [2] | 8 | 5 | ||
Sales/ redemptions, Assets | [2] | (4) | (13) | ||
Settlements, Assets | 0 | 0 | |||
Foreign exchange movements, Assets | 0 | 1 | |||
Transfers into Level 3, Assets | [3],[4] | 1 | 5 | ||
Transfers out of Level 3, Assets | [4] | (3) | (3) | ||
Ending balance, Assets | 14 | 13 | |||
Trading assets and private equity and debt investments [Member] | Private equity and debt investments [Member] | |||||
Assets [Abstract] | |||||
Beginning balance, Assets | 26 | 3 | |||
Total gains (losses) recognized in net revenue, Assets | [1] | 1 | (1) | ||
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | |||
Purchases/ issues, Assets | [2] | 8 | 24 | ||
Sales/ redemptions, Assets | [2] | (3) | (2) | ||
Settlements, Assets | 0 | 0 | |||
Foreign exchange movements, Assets | (1) | 0 | |||
Transfers into Level 3, Assets | [3],[4] | 0 | 2 | ||
Transfers out of Level 3, Assets | [4] | 0 | 0 | ||
Ending balance, Assets | 31 | 26 | |||
Trading assets and private equity and debt investments [Member] | Japanese agency and municipal securities [Member] | |||||
Assets [Abstract] | |||||
Beginning balance, Assets | 1 | 1 | |||
Total gains (losses) recognized in net revenue, Assets | [1] | 0 | 0 | ||
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | |||
Purchases/ issues, Assets | [2] | 1 | 1 | ||
Sales/ redemptions, Assets | [2] | 0 | (1) | ||
Settlements, Assets | 0 | 0 | |||
Foreign exchange movements, Assets | 0 | 0 | |||
Transfers into Level 3, Assets | [3],[4] | 0 | 0 | ||
Transfers out of Level 3, Assets | [4] | 0 | 0 | ||
Ending balance, Assets | 2 | 1 | |||
Trading assets and private equity and debt investments [Member] | Foreign government, agency and municipal securities [Member] | |||||
Assets [Abstract] | |||||
Beginning balance, Assets | 5 | 6 | |||
Total gains (losses) recognized in net revenue, Assets | [1] | 0 | 0 | ||
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | |||
Purchases/ issues, Assets | [2] | 27 | 15 | ||
Sales/ redemptions, Assets | [2] | (26) | (16) | ||
Settlements, Assets | 0 | 0 | |||
Foreign exchange movements, Assets | 0 | 0 | |||
Transfers into Level 3, Assets | [3],[4] | 5 | 3 | ||
Transfers out of Level 3, Assets | [4] | (3) | (3) | ||
Ending balance, Assets | 8 | 5 | |||
Trading assets and private equity and debt investments [Member] | Bank and corporate debt securities and loans for trading purposes [Member] | |||||
Assets [Abstract] | |||||
Beginning balance, Assets | 160 | 139 | |||
Total gains (losses) recognized in net revenue, Assets | [1] | (2) | 8 | ||
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | |||
Purchases/ issues, Assets | [2] | 158 | 99 | ||
Sales/ redemptions, Assets | [2] | (154) | (100) | ||
Settlements, Assets | 0 | 0 | |||
Foreign exchange movements, Assets | (7) | 4 | |||
Transfers into Level 3, Assets | [3],[4] | 113 | 63 | ||
Transfers out of Level 3, Assets | [4] | (40) | (53) | ||
Ending balance, Assets | 228 | 160 | |||
Trading assets and private equity and debt investments [Member] | Commercial mortgage-backed securities ("CMBS") [Member] | |||||
Assets [Abstract] | |||||
Beginning balance, Assets | 2 | 2 | |||
Total gains (losses) recognized in net revenue, Assets | [1] | (1) | 0 | ||
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | |||
Purchases/ issues, Assets | [2] | 1 | 1 | ||
Sales/ redemptions, Assets | [2] | (1) | (2) | ||
Settlements, Assets | 0 | 0 | |||
Foreign exchange movements, Assets | 0 | 0 | |||
Transfers into Level 3, Assets | [3],[4] | 0 | 1 | ||
Transfers out of Level 3, Assets | [4] | 0 | 0 | ||
Ending balance, Assets | 1 | 2 | |||
Trading assets and private equity and debt investments [Member] | Residential mortgage-backed securities ("RMBS") [Member] | |||||
Assets [Abstract] | |||||
Beginning balance, Assets | 3 | 0 | |||
Total gains (losses) recognized in net revenue, Assets | [1] | (8) | 0 | ||
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | |||
Purchases/ issues, Assets | [2] | 93 | 9 | ||
Sales/ redemptions, Assets | [2] | (53) | 0 | ||
Settlements, Assets | 0 | 0 | |||
Foreign exchange movements, Assets | 0 | 0 | |||
Transfers into Level 3, Assets | [3],[4] | 28 | 0 | ||
Transfers out of Level 3, Assets | [4] | (1) | (6) | ||
Ending balance, Assets | 62 | 3 | |||
Trading assets and private equity and debt investments [Member] | Real estate-backed securities [Member] | |||||
Assets [Abstract] | |||||
Beginning balance, Assets | 69 | 63 | |||
Total gains (losses) recognized in net revenue, Assets | [1] | 4 | (2) | ||
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | |||
Purchases/ issues, Assets | [2] | 197 | 217 | ||
Sales/ redemptions, Assets | [2] | (175) | (212) | ||
Settlements, Assets | 0 | 0 | |||
Foreign exchange movements, Assets | (1) | 3 | |||
Transfers into Level 3, Assets | [3],[4] | 0 | 0 | ||
Transfers out of Level 3, Assets | [4] | 0 | 0 | ||
Ending balance, Assets | 94 | 69 | |||
Trading assets and private equity and debt investments [Member] | Collateralized debt obligations ("CDOs") and other [Member] | |||||
Assets [Abstract] | |||||
Beginning balance, Assets | 19 | 24 | |||
Total gains (losses) recognized in net revenue, Assets | [1] | (21) | 4 | ||
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | |||
Purchases/ issues, Assets | [2] | 184 | 56 | ||
Sales/ redemptions, Assets | [2] | (167) | (68) | ||
Settlements, Assets | 0 | 0 | |||
Foreign exchange movements, Assets | (1) | 1 | |||
Transfers into Level 3, Assets | [3],[4] | 25 | 7 | ||
Transfers out of Level 3, Assets | [4] | (7) | (5) | ||
Ending balance, Assets | 32 | 19 | |||
Trading assets and private equity and debt investments [Member] | Investment trust funds and other [Member] | |||||
Assets [Abstract] | |||||
Beginning balance, Assets | 1 | 1 | |||
Total gains (losses) recognized in net revenue, Assets | [1] | 0 | 0 | ||
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | |||
Purchases/ issues, Assets | [2] | 13 | 4 | ||
Sales/ redemptions, Assets | [2] | (14) | (4) | ||
Settlements, Assets | 0 | 0 | |||
Foreign exchange movements, Assets | 0 | 0 | |||
Transfers into Level 3, Assets | [3],[4] | 0 | 0 | ||
Transfers out of Level 3, Assets | [4] | 0 | 0 | ||
Ending balance, Assets | 0 | 1 | |||
Equity contracts [Member] | |||||
Assets [Abstract] | |||||
Beginning balance, Assets | [5] | (8) | (1) | ||
Total gains (losses) recognized in net revenue, Assets | [1],[5] | 29 | (2) | ||
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | [5] | ||
Purchases/ issues, Assets | [2],[5] | 0 | 0 | ||
Sales/ redemptions, Assets | [2],[5] | 0 | 0 | ||
Settlements, Assets | (6) | (2) | [5] | ||
Foreign exchange movements, Assets | 0 | 0 | [5] | ||
Transfers into Level 3, Assets | [3],[4],[5] | 16 | (7) | ||
Transfers out of Level 3, Assets | [4],[5] | (12) | 4 | ||
Ending balance, Assets | 19 | (8) | [5] | ||
Interest rate contracts [Member] | |||||
Assets [Abstract] | |||||
Beginning balance, Assets | [5] | (54) | (53) | ||
Total gains (losses) recognized in net revenue, Assets | [1],[5] | 9 | (25) | ||
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | [5] | ||
Purchases/ issues, Assets | [2],[5] | 0 | 0 | ||
Sales/ redemptions, Assets | [2],[5] | 0 | 0 | ||
Settlements, Assets | (9) | 0 | [5] | ||
Foreign exchange movements, Assets | 0 | 0 | [5] | ||
Transfers into Level 3, Assets | [3],[4],[5] | (1) | 10 | ||
Transfers out of Level 3, Assets | [4],[5] | 1 | 14 | ||
Ending balance, Assets | (54) | (54) | [5] | ||
Credit contracts [Member] | |||||
Assets [Abstract] | |||||
Beginning balance, Assets | [5] | (8) | 2 | ||
Total gains (losses) recognized in net revenue, Assets | [1],[5] | 7 | (6) | ||
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | [5] | ||
Purchases/ issues, Assets | [2],[5] | 0 | 0 | ||
Sales/ redemptions, Assets | [2],[5] | 0 | 0 | ||
Settlements, Assets | 2 | (4) | [5] | ||
Foreign exchange movements, Assets | 0 | 0 | [5] | ||
Transfers into Level 3, Assets | [3],[4],[5] | (12) | (1) | ||
Transfers out of Level 3, Assets | [4],[5] | 10 | 1 | ||
Ending balance, Assets | (1) | (8) | [5] | ||
Foreign exchange contracts [Member] | |||||
Assets [Abstract] | |||||
Beginning balance, Assets | [5] | 20 | 27 | ||
Total gains (losses) recognized in net revenue, Assets | [1],[5] | (22) | (13) | ||
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | [5] | ||
Purchases/ issues, Assets | [2],[5] | 0 | 0 | ||
Sales/ redemptions, Assets | [2],[5] | 0 | 0 | ||
Settlements, Assets | 8 | 3 | [5] | ||
Foreign exchange movements, Assets | (1) | 1 | [5] | ||
Transfers into Level 3, Assets | [3],[4],[5] | 0 | (1) | ||
Transfers out of Level 3, Assets | [4],[5] | 2 | 3 | ||
Ending balance, Assets | 7 | 20 | [5] | ||
Commodity contracts [Member] | |||||
Assets [Abstract] | |||||
Beginning balance, Assets | [5] | 0 | 0 | ||
Total gains (losses) recognized in net revenue, Assets | [1],[5] | 0 | 0 | ||
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | [5] | ||
Purchases/ issues, Assets | [2],[5] | 0 | 0 | ||
Sales/ redemptions, Assets | [2],[5] | 0 | 0 | ||
Settlements, Assets | 0 | 0 | [5] | ||
Foreign exchange movements, Assets | 0 | 0 | [5] | ||
Transfers into Level 3, Assets | [3],[4],[5] | 0 | 0 | ||
Transfers out of Level 3, Assets | [4],[5] | 0 | 0 | ||
Ending balance, Assets | 0 | 0 | [5] | ||
Derivatives, net [Member] | |||||
Assets [Abstract] | |||||
Beginning balance, Assets | [5] | (50) | (25) | ||
Total gains (losses) recognized in net revenue, Assets | [1],[5] | 23 | (46) | ||
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | [5] | ||
Purchases/ issues, Assets | [2],[5] | 0 | 0 | ||
Sales/ redemptions, Assets | [2],[5] | 0 | 0 | ||
Settlements, Assets | (5) | (3) | [5] | ||
Foreign exchange movements, Assets | (1) | 1 | [5] | ||
Transfers into Level 3, Assets | [3],[4],[5] | 3 | 1 | ||
Transfers out of Level 3, Assets | [4],[5] | 1 | 22 | ||
Ending balance, Assets | (29) | (50) | [5] | ||
Subtotal [Member] | |||||
Assets [Abstract] | |||||
Beginning balance, Assets | 249 | 235 | |||
Total gains (losses) recognized in net revenue, Assets | [1] | (5) | (40) | ||
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | |||
Purchases/ issues, Assets | [2] | 690 | 431 | ||
Sales/ redemptions, Assets | [2] | (597) | (418) | ||
Settlements, Assets | (5) | (3) | |||
Foreign exchange movements, Assets | (11) | 10 | |||
Transfers into Level 3, Assets | [3],[4] | 175 | 82 | ||
Transfers out of Level 3, Assets | [4] | (53) | (48) | ||
Ending balance, Assets | 443 | 249 | |||
Loans and receivables [Member] | |||||
Assets [Abstract] | |||||
Beginning balance, Assets | 129 | 70 | |||
Total gains (losses) recognized in net revenue, Assets | [1] | 0 | 0 | ||
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | |||
Purchases/ issues, Assets | [2] | 163 | 53 | ||
Sales/ redemptions, Assets | [2] | (117) | (27) | ||
Settlements, Assets | 0 | 0 | |||
Foreign exchange movements, Assets | (3) | 3 | |||
Transfers into Level 3, Assets | [3],[4] | 93 | 37 | ||
Transfers out of Level 3, Assets | [4] | (169) | (7) | ||
Ending balance, Assets | 96 | 129 | |||
Collateralized agreements [Member] | |||||
Assets [Abstract] | |||||
Beginning balance, Assets | 33 | 5 | |||
Total gains (losses) recognized in net revenue, Assets | [1] | 0 | 0 | ||
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | |||
Purchases/ issues, Assets | [2] | 0 | 0 | ||
Sales/ redemptions, Assets | [2] | (27) | 0 | ||
Settlements, Assets | 0 | 0 | |||
Foreign exchange movements, Assets | (1) | 0 | |||
Transfers into Level 3, Assets | [3],[4] | 10 | 28 | ||
Transfers out of Level 3, Assets | [4] | 0 | 0 | ||
Ending balance, Assets | 15 | 33 | |||
Other [Member] | |||||
Assets [Abstract] | |||||
Beginning balance, Assets | 166 | 169 | |||
Total gains (losses) recognized in net revenue, Assets | [1] | (31) | (11) | ||
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | |||
Purchases/ issues, Assets | [2] | 43 | 6 | ||
Sales/ redemptions, Assets | [2] | (7) | (3) | ||
Settlements, Assets | 0 | 0 | |||
Foreign exchange movements, Assets | (3) | 5 | |||
Transfers into Level 3, Assets | [3],[4] | 0 | 0 | ||
Transfers out of Level 3, Assets | [4] | 0 | 0 | ||
Ending balance, Assets | 168 | [6] | 166 | ||
Trading liabilities [Member] | |||||
Liabilities [Abstract] | |||||
Beginning balance, Liabilities | 0 | 1 | |||
Total gains (losses) recognized in net revenue, Liabilities | [1] | (1) | 0 | ||
Total gains (losses) recognized in other comprehensive income, Liabilities | 0 | 0 | |||
Purchases/ issues, Liabilities | [2] | 5 | 21 | ||
Sales/ redemptions, Liabilities | [2] | (4) | (21) | ||
Settlements, Liabilities | 0 | 0 | |||
Foreign exchange movements, Liabilities | 0 | 0 | |||
Transfers into Level 3, Liabilities | [3],[4] | 0 | 0 | ||
Transfers out of Level 3, Liabilities | [4] | 0 | (1) | ||
Ending balance, Liabilities | 2 | 0 | |||
Trading liabilities [Member] | Equities [Member] | |||||
Liabilities [Abstract] | |||||
Beginning balance, Liabilities | 0 | 1 | |||
Total gains (losses) recognized in net revenue, Liabilities | [1] | 0 | 0 | ||
Total gains (losses) recognized in other comprehensive income, Liabilities | 0 | 0 | |||
Purchases/ issues, Liabilities | [2] | 0 | 20 | ||
Sales/ redemptions, Liabilities | [2] | 0 | (20) | ||
Settlements, Liabilities | 0 | 0 | |||
Foreign exchange movements, Liabilities | 0 | 0 | |||
Transfers into Level 3, Liabilities | [3],[4] | 0 | 0 | ||
Transfers out of Level 3, Liabilities | [4] | 0 | (1) | ||
Ending balance, Liabilities | 0 | 0 | |||
Trading liabilities [Member] | Foreign government, agency and municipal securities [Member] | |||||
Liabilities [Abstract] | |||||
Beginning balance, Liabilities | 0 | ||||
Total gains (losses) recognized in net revenue, Liabilities | [1] | 0 | 0 | ||
Total gains (losses) recognized in other comprehensive income, Liabilities | 0 | 0 | |||
Purchases/ issues, Liabilities | [2] | 0 | 1 | ||
Sales/ redemptions, Liabilities | [2] | 0 | (1) | ||
Settlements, Liabilities | 0 | 0 | |||
Foreign exchange movements, Liabilities | 0 | 0 | |||
Transfers into Level 3, Liabilities | [3],[4] | 0 | 0 | ||
Transfers out of Level 3, Liabilities | [4] | 0 | 0 | ||
Ending balance, Liabilities | 0 | 0 | |||
Trading liabilities [Member] | Bank and corporate debt securities [Member] | |||||
Liabilities [Abstract] | |||||
Beginning balance, Liabilities | 0 | 0 | |||
Total gains (losses) recognized in net revenue, Liabilities | [1] | (1) | 0 | ||
Total gains (losses) recognized in other comprehensive income, Liabilities | 0 | 0 | |||
Purchases/ issues, Liabilities | [2] | 1 | 0 | ||
Sales/ redemptions, Liabilities | [2] | (1) | 0 | ||
Settlements, Liabilities | 0 | 0 | |||
Foreign exchange movements, Liabilities | 0 | 0 | |||
Transfers into Level 3, Liabilities | [3],[4] | 0 | 0 | ||
Transfers out of Level 3, Liabilities | [4] | 0 | 0 | ||
Ending balance, Liabilities | 1 | 0 | |||
Trading liabilities [Member] | Collateralized debt obligations ("CDOs") and other [Member] | |||||
Liabilities [Abstract] | |||||
Beginning balance, Liabilities | 0 | 0 | |||
Total gains (losses) recognized in net revenue, Liabilities | [1] | 0 | 0 | ||
Total gains (losses) recognized in other comprehensive income, Liabilities | 0 | 0 | |||
Purchases/ issues, Liabilities | [2] | 4 | 0 | ||
Sales/ redemptions, Liabilities | [2] | (3) | 0 | ||
Settlements, Liabilities | 0 | 0 | |||
Foreign exchange movements, Liabilities | 0 | 0 | |||
Transfers into Level 3, Liabilities | [3],[4] | 0 | 0 | ||
Transfers out of Level 3, Liabilities | [4] | 0 | 0 | ||
Ending balance, Liabilities | 1 | 0 | |||
Trading liabilities [Member] | Investment trust funds and other [Member] | |||||
Liabilities [Abstract] | |||||
Beginning balance, Liabilities | 0 | 0 | |||
Total gains (losses) recognized in net revenue, Liabilities | [1] | 0 | 0 | ||
Total gains (losses) recognized in other comprehensive income, Liabilities | 0 | 0 | |||
Purchases/ issues, Liabilities | [2] | 0 | 0 | ||
Sales/ redemptions, Liabilities | [2] | 0 | 0 | ||
Settlements, Liabilities | 0 | 0 | |||
Foreign exchange movements, Liabilities | 0 | 0 | |||
Transfers into Level 3, Liabilities | [3],[4] | 0 | 0 | ||
Transfers out of Level 3, Liabilities | [4] | 0 | 0 | ||
Ending balance, Liabilities | 0 | 0 | |||
Short-term borrowings [Member] | |||||
Liabilities [Abstract] | |||||
Beginning balance, Liabilities | 31 | 17 | |||
Total gains (losses) recognized in net revenue, Liabilities | [1] | 0 | (2) | ||
Total gains (losses) recognized in other comprehensive income, Liabilities | 0 | 0 | |||
Purchases/ issues, Liabilities | [2] | 65 | 39 | ||
Sales/ redemptions, Liabilities | [2] | (58) | (27) | ||
Settlements, Liabilities | 0 | 0 | |||
Foreign exchange movements, Liabilities | 0 | 0 | |||
Transfers into Level 3, Liabilities | [3],[4] | 7 | 25 | ||
Transfers out of Level 3, Liabilities | [4] | (16) | (25) | ||
Ending balance, Liabilities | 29 | 31 | |||
Payables and deposits [Member] | |||||
Liabilities [Abstract] | |||||
Beginning balance, Liabilities | 0 | (1) | |||
Total gains (losses) recognized in net revenue, Liabilities | [1] | 0 | (1) | ||
Total gains (losses) recognized in other comprehensive income, Liabilities | 0 | 0 | |||
Purchases/ issues, Liabilities | [2] | 6 | 0 | ||
Sales/ redemptions, Liabilities | [2] | 0 | 0 | ||
Settlements, Liabilities | 0 | 0 | |||
Foreign exchange movements, Liabilities | 0 | 0 | |||
Transfers into Level 3, Liabilities | [3],[4] | 0 | 0 | ||
Transfers out of Level 3, Liabilities | [4] | (5) | 0 | ||
Ending balance, Liabilities | 1 | 0 | |||
Collateralized financing [Member] | |||||
Liabilities [Abstract] | |||||
Beginning balance, Liabilities | 0 | 3 | |||
Total gains (losses) recognized in net revenue, Liabilities | [1] | 0 | |||
Total gains (losses) recognized in other comprehensive income, Liabilities | 0 | ||||
Purchases/ issues, Liabilities | [2] | 0 | |||
Sales/ redemptions, Liabilities | [2] | (3) | |||
Settlements, Liabilities | 0 | ||||
Foreign exchange movements, Liabilities | 0 | ||||
Transfers into Level 3, Liabilities | [3],[4] | 0 | |||
Transfers out of Level 3, Liabilities | [4] | 0 | |||
Ending balance, Liabilities | 0 | ||||
Long-term borrowings [Member] | |||||
Liabilities [Abstract] | |||||
Beginning balance, Liabilities | 535 | 429 | |||
Total gains (losses) recognized in net revenue, Liabilities | [1] | 6 | (23) | ||
Total gains (losses) recognized in other comprehensive income, Liabilities | 0 | 2 | |||
Purchases/ issues, Liabilities | [2] | 254 | 194 | ||
Sales/ redemptions, Liabilities | [2] | (291) | (99) | ||
Settlements, Liabilities | 0 | 0 | |||
Foreign exchange movements, Liabilities | (1) | 0 | |||
Transfers into Level 3, Liabilities | [3],[4] | 56 | 75 | ||
Transfers out of Level 3, Liabilities | [4] | (138) | (85) | ||
Ending balance, Liabilities | 409 | 535 | |||
Other liabilities [Member] | |||||
Liabilities [Abstract] | |||||
Beginning balance, Liabilities | 0 | 1 | |||
Total gains (losses) recognized in net revenue, Liabilities | [1] | (8) | 0 | ||
Total gains (losses) recognized in other comprehensive income, Liabilities | 0 | 0 | |||
Purchases/ issues, Liabilities | [2] | 2 | 0 | ||
Sales/ redemptions, Liabilities | [2] | (10) | (1) | ||
Settlements, Liabilities | 0 | 0 | |||
Foreign exchange movements, Liabilities | 0 | 0 | |||
Transfers into Level 3, Liabilities | [3],[4] | 0 | 0 | ||
Transfers out of Level 3, Liabilities | [4] | 0 | 0 | ||
Ending balance, Liabilities | ¥ 0 | ¥ 0 | |||
[1] | Includes gains and losses reported primarily within Net gain on trading, Gain on private equity and debt investments, and also within Gain (loss) on investments in equity securities, Revenue—Other and Non-interest expenses—Other, Interest and dividends and Interest expense in the consolidated statements of income. | ||||
[2] | Amounts reported in Purchases / issues include increases in trading liabilities while Sales / redemptions include decreases in trading liabilities. | ||||
[3] | Amounts of gains and losses on these transfers which were recognized in the period when the Transfers into Level 3 occurred were not significant for the years ended March 31, 2019 and 2020. | ||||
[4] | Transfers into Level 3 indicate certain valuation inputs of a financial instrument become unobservable or significant. Transfers out of Level 3 indicate certain valuation inputs of a financial instrument become observable or insignificant. See Quantitative and qualitative information regarding significant unobservable inputs above for the valuation inputs of each financial instruments. | ||||
[5] | Each derivative classification includes derivatives with multiple risk underlyings. For example, interest rate contracts include complex derivatives referencing interest rate risk as well as foreign exchange risk or other factors such as prepayment rates. Credit contracts include credit default swaps as well as derivatives referencing corporate and government debt securities. | ||||
[6] | Valuation technique(s) and unobservable valuation inputs in respect of equity securities reported within Other assets in the consolidated balance sheets. |
Fair value measurements - Sch_3
Fair value measurements - Schedule of unrealized gains and losses recognized for Level 3 financial instruments (Detail) - Recurring [Member] - Level 3 [Member] - JPY (¥) ¥ in Billions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | ||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Assets | [1] | ¥ (60) | ¥ (71) |
Unrealized gains/(losses), Liabilities | [2] | 19 | (20) |
Trading assets and private equity and debt investments [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Assets | [1] | (34) | (8) |
Trading assets and private equity and debt investments [Member] | Equities [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Assets | [1] | (2) | (4) |
Trading assets and private equity and debt investments [Member] | Private equity and debt investments [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Assets | [1] | 1 | (1) |
Trading assets and private equity and debt investments [Member] | Japanese agency and municipal securities [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Assets | [1] | 0 | |
Trading assets and private equity and debt investments [Member] | Foreign government, agency and municipal securities [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Assets | [1] | 0 | |
Trading assets and private equity and debt investments [Member] | Bank and corporate debt securities and loans for trading purposes [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Assets | [1] | (5) | 1 |
Trading assets and private equity and debt investments [Member] | Commercial mortgage-backed securities ("CMBS") [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Assets | [1] | (1) | 0 |
Trading assets and private equity and debt investments [Member] | Residential mortgage-backed securities ("RMBS") [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Assets | [1] | (7) | 0 |
Trading assets and private equity and debt investments [Member] | Real estate-backed securities [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Assets | [1] | 0 | 0 |
Trading assets and private equity and debt investments [Member] | Collateralized debt obligations ("CDOs") and other [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Assets | [1] | (19) | (4) |
Trading assets and private equity and debt investments [Member] | Investment trust funds and other [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Assets | [1] | 0 | 0 |
Equity contracts [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Assets | [2],[3] | 36 | (11) |
Interest rate contracts [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Assets | [2],[3] | (19) | (18) |
Credit contracts [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Assets | [2],[3] | 2 | (12) |
Foreign exchange contracts [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Assets | [2],[3] | (24) | (10) |
Commodity contracts [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Assets | [2],[3] | 0 | |
Derivatives, net [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Assets | [2],[3] | (5) | (51) |
Subtotal [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Assets | [1] | (39) | (59) |
Loans and receivables [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Assets | [1] | (1) | 0 |
Collateralized agreements [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Assets | [1] | 0 | 0 |
Other [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Assets | [1] | (20) | (12) |
Trading liabilities [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Liabilities | [2] | (1) | 0 |
Trading liabilities [Member] | Equities [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Liabilities | [2] | 0 | 0 |
Trading liabilities [Member] | Foreign government, agency and municipal securities [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Liabilities | [2] | 0 | 0 |
Trading liabilities [Member] | Bank and corporate debt securities [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Liabilities | [2] | (1) | 0 |
Trading liabilities [Member] | Collateralized debt obligations ("CDOs") and other [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Liabilities | [2] | 0 | |
Short-term borrowings [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Liabilities | [2] | 1 | (1) |
Payables and deposits [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Liabilities | [2] | 0 | (1) |
Long-term borrowings [Member] | |||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||
Unrealized gains/(losses), Liabilities | [2] | ¥ 19 | ¥ (18) |
[1] | Transfers into Level 3 indicate certain valuation inputs of a financial instrument become unobservable or significant. Transfers out of Level 3 indicate certain valuation inputs of a financial instrument become observable or insignificant. See Quantitative and qualitative information regarding significant unobservable inputs above for the valuation inputs of each financial instruments. | ||
[2] | Includes gains and losses reported within Net gain on trading, Gain on private equity and debt investments, and also within Gain on investments in equity securities, Revenue—Other and Non-interest expenses—Other, Interest and dividends and Interest expense in the consolidated statements of income. | ||
[3] | Each derivative classification includes derivatives with multiple risk underlyings. For example, interest rate contracts include complex derivatives referencing interest rate risk as well as foreign exchange risk or other factors such as prepayment rates. Credit contracts include credit default swaps as well as derivatives referencing corporate and government debt securities. |
Fair value measurements - Infor
Fair value measurements - Information on investments where net asset value per share is calculated or disclosed (Detail) - JPY (¥) ¥ in Billions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | ||
Fair value, balance sheet grouping, financial statement captions [Line Items] | |||
Fair value | ¥ 32 | ¥ 38 | |
Unfunded commitments | [1] | 13 | 13 |
Hedge funds [Member] | |||
Fair value, balance sheet grouping, financial statement captions [Line Items] | |||
Fair value | 2 | 16 | |
Unfunded commitments | |||
Redemption frequency (if currently eligible) | [2] | Monthly | Monthly |
Hedge funds [Member] | Minimum [Member] | |||
Fair value, balance sheet grouping, financial statement captions [Line Items] | |||
Redemption notice | [3] | 1 day | 1 day |
Hedge funds [Member] | Maximum [Member] | |||
Fair value, balance sheet grouping, financial statement captions [Line Items] | |||
Redemption notice | [3] | 90 days | 90 days |
Venture capital funds [Member] | |||
Fair value, balance sheet grouping, financial statement captions [Line Items] | |||
Fair value | ¥ 3 | ¥ 2 | |
Unfunded commitments | [1] | ¥ 3 | ¥ 2 |
Redemption frequency (if currently eligible) | [2] | 0 | 0 |
Redemption notice | [3] | ||
Private equity funds [Member] | |||
Fair value, balance sheet grouping, financial statement captions [Line Items] | |||
Fair value | ¥ 21 | ¥ 17 | |
Unfunded commitments | [1] | ¥ 9 | ¥ 10 |
Redemption frequency (if currently eligible) | [2] | 0 | 0 |
Redemption notice | [3] | ||
Real estate funds [Member] | |||
Fair value, balance sheet grouping, financial statement captions [Line Items] | |||
Fair value | ¥ 6 | ¥ 3 | |
Unfunded commitments | [1] | ¥ 1 | ¥ 1 |
Redemption frequency (if currently eligible) | [2] | 0 | 0 |
Redemption notice | [3] | ||
[1] | The contractual amount of any unfunded commitments Nomura is required to make to the entities in which the investment is held. | ||
[2] | The range in frequency with which Nomura can redeem investments. | ||
[3] | The range in notice period required to be provided before redemption is possible. |
Fair value measurements - Gains
Fair value measurements - Gains (losses) due to changes in fair value for financial instruments measured at fair value using fair value option (Detail) - JPY (¥) ¥ in Billions | 12 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | ||
Short-term borrowings [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains/(Losses) | [1],[2] | ¥ 64 | ¥ 28 | ¥ (1) |
Collateralized financing [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains/(Losses) | [1],[3] | (2) | 0 | 0 |
Long-term borrowings [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains/(Losses) | [1],[2],[4] | 58 | (38) | (39) |
Other liabilities [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains/(Losses) | [1],[5] | 2 | 3 | (4) |
Total [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains/(Losses) | [1] | 122 | (7) | (44) |
Trading assets and private equity and debt investments [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains/(Losses) | [1],[6] | 1 | 0 | 0 |
Private equity and debt investments [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains/(Losses) | [1],[6] | (1) | 1 | (1) |
Loans and receivables [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains/(Losses) | [1] | 2 | (2) | (14) |
Collateralized agreements [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains/(Losses) | [1],[3] | 4 | 2 | 1 |
Other assets [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains/(Losses) | [1],[6] | (16) | (26) | 11 |
Total [Member] | ||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||
Gains/(Losses) | [1] | ¥ (10) | ¥ (25) | ¥ (3) |
[1] | Includes gains and losses reported primarily within Net gain on trading and Revenue—Other in the consolidated statements of income. | |||
[2] | Includes structured notes and other financial liabilities. | |||
[3] | Includes reverse repurchase and repurchase agreements. | |||
[4] | Includes secured financing transactions arising from transfers of financial assets which did not meet the criteria for sales accounting. | |||
[5] | Includes unfunded written loan commitments. | |||
[6] | Includes equity investments that would have been accounted for under the equity method had Nomura not chosen to elect the fair value option. |
Fair value measurements - Impac
Fair value measurements - Impact of changes in its own creditworthiness on certain financial liabilities (Detail) - JPY (¥) ¥ in Billions | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Fair Value Disclosures [Abstract] | ||
Changes recognized as a credit (debit) to other comprehensive income | ¥ 49 | ¥ 25 |
Credit (debit) amounts reclassified to earnings | (1) | (1) |
Cumulative credit (debit) balance recognized in accumulated other comprehensive income | ¥ 80 | ¥ 32 |
Fair value measurements - Geogr
Fair value measurements - Geographic allocations of trading assets related to government, agency and municipal securities (Detail) - Government, agency and municipal securities [Member] - JPY (¥) ¥ in Billions | Mar. 31, 2020 | Mar. 31, 2019 | |
Fair value, concentration of credit risk [Line items] | |||
Trading assets | [1] | ¥ 7,199 | ¥ 6,401 |
Japan [Member] | |||
Fair value, concentration of credit risk [Line items] | |||
Trading assets | 1,934 | 2,202 | |
U.S. [Member] | |||
Fair value, concentration of credit risk [Line items] | |||
Trading assets | 1,889 | 1,723 | |
EU & U.K. [Member] | |||
Fair value, concentration of credit risk [Line items] | |||
Trading assets | 2,704 | 1,897 | |
Other [Member] | |||
Fair value, concentration of credit risk [Line items] | |||
Trading assets | ¥ 672 | ¥ 579 | |
[1] | Other than above, there were ¥318 billion and ¥321 billion of government, agency and municipal securities reported within Other assets—Non-trading debt securities in the consolidated balance sheets as of March 31, 2019 and 2020, respectively. These securities are primarily Japanese government, agency and municipal securities. |
Fair value measurements - Geo_2
Fair value measurements - Geographic allocations of trading assets related to government, agency and municipal securities (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Fair value, concentration of credit risk [Line items] | ||
Non-trading debt securities | ¥ 455,392 | ¥ 460,661 |
Government, agency and municipal securities [Member] | ||
Fair value, concentration of credit risk [Line items] | ||
Non-trading debt securities | ¥ 321,000 | ¥ 318,000 |
Fair value measurements - Sch_4
Fair value measurements - Schedule of carrying values, fair values and classification within the fair value hierarchy for certain classes of financial instrument (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | |
Liabilities: | |||
Deposits received at banks | ¥ 14,392 | ||
Level 1 [Member] | |||
Assets: | |||
Cash and cash equivalents | [1] | 3,192,000 | 2,687,000 |
Time deposits | [1] | 0 | |
Deposits with stock exchanges and other segregated cash | [1] | 0 | |
Loans receivable | [1],[2] | 0 | |
Securities purchased under agreements to resell | [1] | 0 | |
Securities borrowed | [1] | 0 | |
Total Assets | [1] | 3,192,000 | 2,687,000 |
Liabilities: | |||
Short-term borrowings | [1] | 0 | |
Deposits received at banks | [1] | 0 | |
Securities sold under agreements to repurchase | [1] | 0 | |
Securities loaned | [1] | 0 | |
Other secured borrowings | [1] | 0 | |
Long-term borrowings | [1] | 2,000 | 12,000 |
Total Liabilities | [1] | 2,000 | 12,000 |
Level 2 [Member] | |||
Assets: | |||
Cash and cash equivalents | [1] | 0 | |
Time deposits | [1] | 309,000 | 290,000 |
Deposits with stock exchanges and other segregated cash | [1] | 374,000 | 285,000 |
Loans receivable | [1],[2] | 2,201,000 | 1,941,000 |
Securities purchased under agreements to resell | [1] | 12,362,000 | 13,162,000 |
Securities borrowed | [1] | 3,529,000 | 4,111,000 |
Total Assets | [1] | 18,775,000 | 19,789,000 |
Liabilities: | |||
Short-term borrowings | [1] | 1,458,000 | 811,000 |
Deposits received at banks | [1] | 1,275,000 | 1,393,000 |
Securities sold under agreements to repurchase | [1] | 16,349,000 | 15,037,000 |
Securities loaned | [1] | 962,000 | 1,230,000 |
Other secured borrowings | [1] | 718,000 | |
Long-term borrowings | [1] | 7,263,000 | 7,353,000 |
Total Liabilities | [1] | 28,025,000 | 25,824,000 |
Level 3 [Member] | |||
Assets: | |||
Cash and cash equivalents | [1] | 0 | |
Time deposits | [1] | 0 | |
Deposits with stock exchanges and other segregated cash | [1] | 0 | |
Loans receivable | [1],[2] | 641,000 | 600,000 |
Securities purchased under agreements to resell | [1] | 15,000 | 33,000 |
Securities borrowed | [1] | 0 | |
Total Assets | [1] | 656,000 | 633,000 |
Liabilities: | |||
Short-term borrowings | [1] | 29,000 | 30,000 |
Deposits received at banks | [1] | 1,000 | |
Securities sold under agreements to repurchase | [1] | 0 | |
Securities loaned | [1] | 0 | |
Other secured borrowings | [1] | 0 | |
Long-term borrowings | [1] | 468,000 | 566,000 |
Total Liabilities | [1] | 498,000 | 596,000 |
Carrying value [Member] | |||
Assets: | |||
Cash and cash equivalents | [1] | 3,192,000 | 2,687,000 |
Time deposits | [1] | 309,000 | 290,000 |
Deposits with stock exchanges and other segregated cash | [1] | 374,000 | 285,000 |
Loans receivable | [1],[2] | 2,848,000 | 2,542,000 |
Securities purchased under agreements to resell | [1] | 12,377,000 | 13,195,000 |
Securities borrowed | [1] | 3,530,000 | 4,112,000 |
Total Assets | [1] | 22,630,000 | 23,111,000 |
Liabilities: | |||
Short-term borrowings | [1] | 1,487,000 | 841,000 |
Deposits received at banks | [1] | 1,276,000 | 1,393,000 |
Securities sold under agreements to repurchase | [1] | 16,349,000 | 15,037,000 |
Securities loaned | [1] | 961,000 | 1,230,000 |
Other secured borrowings | [1] | 718,000 | |
Long-term borrowings | [1] | 7,776,000 | 7,916,000 |
Total Liabilities | [1] | 28,567,000 | 26,417,000 |
Fair value [Member] | |||
Assets: | |||
Cash and cash equivalents | [1] | 3,192,000 | 2,687,000 |
Time deposits | [1] | 309,000 | 290,000 |
Deposits with stock exchanges and other segregated cash | [1] | 374,000 | 285,000 |
Loans receivable | [1],[2] | 2,842,000 | 2,541,000 |
Securities purchased under agreements to resell | [1] | 12,377,000 | 13,195,000 |
Securities borrowed | [1] | 3,529,000 | 4,111,000 |
Total Assets | [1] | 22,623,000 | 23,109,000 |
Liabilities: | |||
Short-term borrowings | [1] | 1,487,000 | 841,000 |
Deposits received at banks | [1] | 1,276,000 | 1,393,000 |
Securities sold under agreements to repurchase | [1] | 16,349,000 | 15,037,000 |
Securities loaned | [1] | 962,000 | 1,230,000 |
Other secured borrowings | [1] | 718,000 | |
Long-term borrowings | [1] | 7,733,000 | 7,931,000 |
Total Liabilities | [1] | ¥ 28,525,000 | ¥ 26,432,000 |
[1] | Includes financial instruments which are carried at fair value on a recurring basis. | ||
[2] | Carrying values are shown after deducting relevant allowances for credit losses. |
Derivative instruments and he_3
Derivative instruments and hedging activities - Concentration of exposures to credit risk in OTC derivatives with financial institutions (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2020 | Mar. 31, 2019 |
Derivative [Line Items] | ||
Gross fair value of derivative assets | ¥ 21,190 | ¥ 14,929 |
Financial institutions [Member] | ||
Derivative [Line Items] | ||
Gross fair value of derivative assets | 17,711 | 13,332 |
Impact of master netting agreements | (15,479) | (11,602) |
Impact of collateral | (1,707) | (1,507) |
Net exposure to credit risk | ¥ 525 | ¥ 223 |
Derivative instruments and he_4
Derivative instruments and hedging activities - Volume of derivative activity in statement of financial position (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2020 | Mar. 31, 2019 | ||
Derivatives, Fair Value [Line Items] | ||||
Total Notional | [1] | ¥ 2,875,396 | ¥ 2,636,309 | |
Derivative assets, Fair value | 21,190 | 14,929 | ||
Derivative liabilities, Fair value | [1] | 20,790 | 14,517 | |
Derivatives used for trading and non-trading purposes [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Total Notional | [1],[2],[3] | 2,874,217 | 2,635,161 | |
Derivative assets, Fair value | [2],[3] | 21,151 | 14,909 | [1] |
Derivative liabilities, Fair value | [1],[2],[3] | 20,789 | 14,517 | |
Derivatives used for trading and non-trading purposes [Member] | Equity contracts [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Total Notional | [1],[2],[3] | 47,976 | 45,721 | |
Derivative assets, Fair value | [2],[3] | 1,921 | 851 | [1] |
Derivative liabilities, Fair value | [1],[2],[3] | 2,008 | 920 | |
Derivatives used for trading and non-trading purposes [Member] | Interest rate contracts [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Total Notional | [1],[2],[3] | 2,522,172 | 2,243,179 | |
Derivative assets, Fair value | [2],[3] | 13,590 | 8,612 | [1] |
Derivative liabilities, Fair value | [1],[2],[3] | 13,214 | 8,290 | |
Derivatives used for trading and non-trading purposes [Member] | Credit contracts [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Total Notional | [1],[2],[3] | 36,155 | 35,343 | |
Derivative assets, Fair value | [2],[3] | 407 | 533 | [1] |
Derivative liabilities, Fair value | [1],[2],[3] | 457 | 464 | |
Derivatives used for trading and non-trading purposes [Member] | Foreign exchange contracts [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Total Notional | [1],[2],[3] | 267,313 | 310,677 | |
Derivative assets, Fair value | [2],[3] | 5,224 | 4,912 | [1] |
Derivative liabilities, Fair value | [1],[2],[3] | 5,104 | 4,842 | |
Derivatives used for trading and non-trading purposes [Member] | Commodity contracts [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Total Notional | [1],[2],[3] | 601 | 241 | |
Derivative assets, Fair value | [2],[3] | 9 | 1 | [1] |
Derivative liabilities, Fair value | [1],[2],[3] | 6 | 1 | |
Derivatives designated as hedging instruments [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Total Notional | [1] | 1,179 | 1,148 | |
Derivative assets, Fair value | 39 | 20 | ||
Derivative liabilities, Fair value | [1] | 1 | ||
Derivatives designated as hedging instruments [Member] | Interest rate contracts [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Total Notional | [1] | 1,064 | 1,002 | |
Derivative assets, Fair value | 39 | 20 | ||
Derivative liabilities, Fair value | [1] | 0 | ||
Derivatives designated as hedging instruments [Member] | Foreign exchange contracts [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Total Notional | [1] | 115 | 146 | |
Derivative assets, Fair value | 0 | |||
Derivative liabilities, Fair value | [1] | ¥ 1 | ||
[1] | Includes the amount of embedded derivatives bifurcated in accordance with ASC 815. | |||
[2] | As of March 31, 2019 and 2020, the amounts reported include derivatives used for non-trading purposes which are not designated as fair value or net investment hedges. These amounts have not been separately presented since such amounts were not significant. | |||
[3] | Each derivative classification includes derivatives referencing multiple risk components. For example, interest rate contracts include complex derivatives referencing interest rate risk as well as foreign exchange risk or other factors such as prepayment rates. Credit contracts include credit default swaps as well as derivatives referencing corporate and government securities. |
Derivative instruments and he_5
Derivative instruments and hedging activities - Offsetting of derivatives and related collateral amounts (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2020 | Mar. 31, 2019 | ||
Derivative assets | ||||
Gross derivative balances, Derivative assets | ¥ 21,190 | ¥ 14,929 | ||
Less: Amounts offset in the consolidated balance sheets | (19,248) | (14,077) | ||
Total net amounts reported on the face of the consolidated balance sheets | 1,942 | 852 | ||
Less: Additional amounts not offset in the consolidated balance sheets [Abstract] | ||||
Financial instruments and non-cash collateral | [1] | (182) | (115) | |
Net amount | 1,760 | 737 | ||
Derivative liabilities | ||||
Gross derivative balances, Derivative liabilities | 20,790 | [2],[3] | 14,517 | |
Less: Amounts offset in the consolidated balance sheets | (18,987) | [3],[4] | (13,710) | |
Total net amounts reported on the face of the consolidated balance sheets | 1,803 | [3],[5] | 807 | |
Less: Additional amounts not offset in the consolidated balance sheets [Abstract] | ||||
Financial instruments and non-cash collateral | [1],[3] | (125) | (86) | |
Net amount | 1,678 | 721 | ||
Equity contracts [Member] | OTC settled bilaterally [Member] | ||||
Derivative assets | ||||
Gross derivative balances, Derivative assets | 869 | 636 | ||
Derivative liabilities | ||||
Gross derivative balances, Derivative liabilities | 875 | [3] | 611 | |
Equity contracts [Member] | Exchange-traded [Member] | ||||
Derivative assets | ||||
Gross derivative balances, Derivative assets | 1,052 | 215 | ||
Derivative liabilities | ||||
Gross derivative balances, Derivative liabilities | 1,133 | [3] | 309 | |
Interest rate contracts [Member] | OTC settled bilaterally [Member] | ||||
Derivative assets | ||||
Gross derivative balances, Derivative assets | 11,881 | 7,295 | ||
Derivative liabilities | ||||
Gross derivative balances, Derivative liabilities | 11,438 | [3] | 6,946 | |
Interest rate contracts [Member] | OTC centrally-cleared [Member] | ||||
Derivative assets | ||||
Gross derivative balances, Derivative assets | 1,692 | 1,327 | ||
Derivative liabilities | ||||
Gross derivative balances, Derivative liabilities | 1,758 | [3] | 1,341 | |
Interest rate contracts [Member] | Exchange-traded [Member] | ||||
Derivative assets | ||||
Gross derivative balances, Derivative assets | 56 | 10 | ||
Derivative liabilities | ||||
Gross derivative balances, Derivative liabilities | 18 | [3] | 3 | |
Credit contracts [Member] | OTC settled bilaterally [Member] | ||||
Derivative assets | ||||
Gross derivative balances, Derivative assets | 278 | 355 | ||
Derivative liabilities | ||||
Gross derivative balances, Derivative liabilities | 311 | [3] | 283 | |
Credit contracts [Member] | OTC centrally-cleared [Member] | ||||
Derivative assets | ||||
Gross derivative balances, Derivative assets | 126 | 176 | ||
Derivative liabilities | ||||
Gross derivative balances, Derivative liabilities | 132 | [3] | 178 | |
Credit contracts [Member] | Exchange-traded [Member] | ||||
Derivative assets | ||||
Gross derivative balances, Derivative assets | 3 | 2 | ||
Derivative liabilities | ||||
Gross derivative balances, Derivative liabilities | 14 | [3] | 3 | |
Foreign exchange contracts [Member] | OTC settled bilaterally [Member] | ||||
Derivative assets | ||||
Gross derivative balances, Derivative assets | 5,224 | 4,912 | ||
Derivative liabilities | ||||
Gross derivative balances, Derivative liabilities | 5,105 | [3] | 4,842 | |
Commodity contracts [Member] | OTC settled bilaterally [Member] | ||||
Derivative assets | ||||
Gross derivative balances, Derivative assets | 1 | |||
Derivative liabilities | ||||
Gross derivative balances, Derivative liabilities | 1 | [2],[3] | ||
Commodity contracts [Member] | Exchange-traded [Member] | ||||
Derivative assets | ||||
Gross derivative balances, Derivative assets | 8 | 1 | ||
Derivative liabilities | ||||
Gross derivative balances, Derivative liabilities | ¥ 5 | [3] | ¥ 1 | |
[1] | Represents amounts which are not permitted to be offset on the face of the consolidated balance sheets in accordance with ASC 210-20 and ASC 815 but which provide Nomura with a legally enforceable right of offset in the event of counterparty default. Amounts relating to derivative and collateral agreements where Nomura has not yet obtained sufficient evidence of enforceability of such offsetting rights are excluded. As of March 31, 2019, a total of ¥140 billion of cash collateral receivables and ¥407 billion of cash collateral payables, including amounts reported in the table, have not been offset against net derivatives. As of March 31, 2020, a total of ¥374 billion of cash collateral receivables and ¥540 billion of cash collateral payables, including amounts reported in the table, have not been offset against net derivatives. | |||
[2] | Includes all gross derivative asset and liability balances irrespective of whether they are transacted under a master netting agreement or whether Nomura has obtained sufficient evidence of enforceability of the master netting agreement. As of March 31, 2019, the gross balance of derivative assets and derivative liabilities which are not documented under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥277 billion and ¥374 billion, respectively. As of March 31, 2020, the gross balance of such derivative assets and derivative liabilities was ¥1,013 billion and ¥1,046 billion, respectively. | |||
[3] | Includes the amount of embedded derivatives bifurcated in accordance with ASC 815. | |||
[4] | Represents amounts offset through counterparty netting of derivative assets and liabilities as well as cash collateral netting against net derivatives under master netting and similar agreements for which Nomura has obtained sufficient evidence of enforceability in accordance with ASC 815. As of March 31, 2019, Nomura offset a total of ¥1,259 billion of cash collateral receivables against net derivative liabilities and ¥1,626 billion of cash collateral payables against net derivative assets. As of March 31, 2020, Nomura offset a total of ¥1,679 billion of cash collateral receivables against net derivative liabilities and ¥1,940 billion of cash collateral payables against net derivative assets. | |||
[5] | Net derivative assets and net derivative liabilities are generally reported within Trading assets and private equity investments—Trading assets and Trading liabilities, respectively in the consolidated balance sheet. Bifurcated embedded derivatives are reported within Short-term borrowings or Long-term borrowings depending on the maturity of the underlying host contract. |
Derivative instruments and he_6
Derivative instruments and hedging activities - Offsetting of derivatives and related collateral amounts (Parenthetical) (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2020 | Mar. 31, 2019 |
Derivative Instruments and Hedging Activities [Abstract] | ||
Gross balances of derivative assets, not subject to enforceable master netting arrangements or similar agreements | ¥ 374 | ¥ 277 |
Gross balances of derivative liabilities, not subject to enforceable master netting arrangements or similar agreements | 1,046 | 1,013 |
Cash collateral receivables against net derivative liabilities | 1,626 | 1,259 |
Cash collateral payables against net derivative assets | 1,940 | 1,679 |
Cash collateral receivables, not being offset against net derivatives | 407 | 140 |
Cash collateral payables, not being offset against net derivatives | ¥ 540 | ¥ 374 |
Derivative instruments and he_7
Derivative instruments and hedging activities - Schedule of derivatives used for trading and non-trading purposes (Detail) - Derivatives used for trading and non-trading purposes [Member] - JPY (¥) ¥ in Billions | 12 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | ||
Derivative [Line Items] | ||||
Gains (losses) on derivatives used for trading and non-trading purposes | [1],[2] | ¥ (161) | ¥ 13 | ¥ 49 |
Equity contracts [Member] | ||||
Derivative [Line Items] | ||||
Gains (losses) on derivatives used for trading and non-trading purposes | [1],[2] | 93 | (32) | 106 |
Interest rate contracts [Member] | ||||
Derivative [Line Items] | ||||
Gains (losses) on derivatives used for trading and non-trading purposes | [1],[2] | (192) | 104 | (257) |
Credit contracts [Member] | ||||
Derivative [Line Items] | ||||
Gains (losses) on derivatives used for trading and non-trading purposes | [1],[2] | (118) | (19) | 129 |
Foreign exchange contracts [Member] | ||||
Derivative [Line Items] | ||||
Gains (losses) on derivatives used for trading and non-trading purposes | [1],[2] | 57 | (50) | 49 |
Commodity contracts [Member] | ||||
Derivative [Line Items] | ||||
Gains (losses) on derivatives used for trading and non-trading purposes | [1],[2] | ¥ (1) | ¥ 10 | ¥ 22 |
[1] | Each derivative classification includes derivatives referencing multiple risk components. For example, interest rates contracts include complex derivatives referencing interest rate risk as well as foreign exchange risk or other factors such as prepayment rates. Credit contracts include credit default swaps as well as derivatives referencing corporate and government securities. | |||
[2] | Includes net gains (losses) on derivatives used for non-trading purposes which are not designated as fair value or net investment hedges. For the years ended March 31, 2018, 2019 and 2020, these amounts have not been separately presented as net gains (losses) for these non-trading derivatives were not significant. |
Derivative instruments and he_8
Derivative instruments and hedging activities - Schedule of derivative instruments in statement of financial position fair value (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2020 | Mar. 31, 2019 |
Carrying amount of the hedged liabilities | ¥ 1,098 | ¥ 1,019 |
Cumulative gains/(losses) of fair value hedging | (36) | (13) |
Long-term borrowings [Member] | ||
Carrying amount of the hedged liabilities | 1,098 | 1,019 |
Cumulative gains/(losses) of fair value hedging | ¥ (36) | ¥ (13) |
Derivative instruments and he_9
Derivative instruments and hedging activities - Schedule of derivatives designated as hedging instruments and hedged items (Detail) - JPY (¥) ¥ in Billions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Hedged Items [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) on fair value hedges recognized | ¥ 26 | ¥ (6) | ¥ (8) |
Hedged Items [Member] | Long-term borrowings [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) on fair value hedges recognized | 26 | (6) | 1 |
Hedged Items [Member] | Non-trading debt securities [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) on fair value hedges recognized | 0 | (9) | |
Derivatives designated as hedging instruments [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) on fair value hedges recognized | (26) | 6 | 8 |
Derivatives designated as hedging instruments [Member] | Interest rate contracts [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) on fair value hedges recognized | (26) | 6 | (1) |
Derivatives designated as hedging instruments [Member] | Foreign exchange contracts [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) on fair value hedges recognized | ¥ 0 | ¥ 9 |
Derivative instruments and h_10
Derivative instruments and hedging activities - Schedule of gains (losses) from derivatives and non-derivatives designated as net investment hedges (Detail) - Net investment hedges [Member] - JPY (¥) ¥ in Billions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) from derivatives designated as net investment hedges | ¥ 2 | ¥ 7 | ¥ (11) |
Foreign exchange contracts [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) from derivatives designated as net investment hedges | ¥ 2 | ¥ 7 | ¥ (11) |
Derivative instruments and h_11
Derivative instruments and hedging activities - Additional information (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2020 | Mar. 31, 2019 |
Derivative Instruments and Hedging Activities [Abstract] | ||
Derivative liability position with credit-risk-related contingent features | ¥ 750 | ¥ 486 |
Collateral pledged for derivative instruments with credit-risk-related contingent features that are in a liability position | 635 | 410 |
Additional collateral required to be posted, aggregate fair value | ¥ 3 | ¥ 3 |
Derivative instruments and h_12
Derivative instruments and hedging activities - Schedule of information about written credit derivatives and purchased credit protection (Detail) - JPY (¥) ¥ in Billions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | ||
Credit Derivatives [Line Items] | |||
Carrying value (Asset) / Liability | [1] | ¥ 180 | ¥ (150) |
Maximum potential payout / Notional | 16,455 | 15,172 | |
Notional, Purchased credit protection | 12,490 | 11,050 | |
Single-name credit default swaps [Member] | |||
Credit Derivatives [Line Items] | |||
Carrying value (Asset) / Liability | [1] | 96 | (47) |
Maximum potential payout / Notional | 8,018 | 9,206 | |
Notional, Purchased credit protection | 5,836 | 6,555 | |
Credit default indices [Member] | |||
Credit Derivatives [Line Items] | |||
Carrying value (Asset) / Liability | [1] | 18 | (117) |
Maximum potential payout / Notional | 8,064 | 5,735 | |
Notional, Purchased credit protection | 6,364 | 4,330 | |
Other credit risk related portfolio products [Member] | |||
Credit Derivatives [Line Items] | |||
Carrying value (Asset) / Liability | [1] | 65 | 14 |
Maximum potential payout / Notional | 357 | 231 | |
Notional, Purchased credit protection | 274 | 165 | |
CreditRisk Related Options And Swaptions [Member] | |||
Credit Derivatives [Line Items] | |||
Carrying value (Asset) / Liability | [1] | 1 | |
Maximum potential payout / Notional | 16 | ||
Notional, Purchased credit protection | 16 | ||
Less than 1 year [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 3,083 | 2,989 | |
Less than 1 year [Member] | Single-name credit default swaps [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 2,323 | 2,346 | |
Less than 1 year [Member] | Credit default indices [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 721 | 612 | |
Less than 1 year [Member] | Other credit risk related portfolio products [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 39 | 31 | |
1 to 3 years [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 4,823 | 5,128 | |
1 to 3 years [Member] | Single-name credit default swaps [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 2,238 | 3,402 | |
1 to 3 years [Member] | Credit default indices [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 2,455 | 1,644 | |
1 to 3 years [Member] | Other credit risk related portfolio products [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 130 | 82 | |
3 to 5 years [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 6,922 | 5,433 | |
3 to 5 years [Member] | Single-name credit default swaps [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 2,552 | 2,469 | |
3 to 5 years [Member] | Credit default indices [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 4,179 | 2,849 | |
3 to 5 years [Member] | Other credit risk related portfolio products [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 175 | 115 | |
3 to 5 years [Member] | CreditRisk Related Options And Swaptions [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 16 | ||
More than 5 years [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 1,627 | 1,622 | |
More than 5 years [Member] | Single-name credit default swaps [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 905 | 989 | |
More than 5 years [Member] | Credit default indices [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 709 | 630 | |
More than 5 years [Member] | Other credit risk related portfolio products [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | ¥ 13 | ¥ 3 | |
[1] | Carrying value amounts are shown on a gross basis prior to cash collateral or counterparty netting. Asset balances represent positive fair value amounts caused by tightening of credit spreads of underlyings since inception of the credit derivative contracts. |
Derivative instruments and h_13
Derivative instruments and hedging activities - Schedule of information about written credit derivatives by external credit rating of underlying asset (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2020 | Mar. 31, 2019 | |
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | ¥ 16,455 | ¥ 15,172 | |
Single-name credit default swaps [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 8,018 | 9,206 | |
Credit default indices [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 8,064 | 5,735 | |
Other credit risk related portfolio products [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 357 | 231 | |
CreditRisk Related Options And Swaptions [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 16 | ||
AAA [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 146 | 555 | |
AAA [Member] | Single-name credit default swaps [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 122 | 520 | |
AAA [Member] | Credit default indices [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 24 | 35 | |
AAA [Member] | Other credit risk related portfolio products [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | |||
AA [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 1,836 | 987 | |
AA [Member] | Single-name credit default swaps [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 1,683 | 915 | |
AA [Member] | Credit default indices [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 153 | 72 | |
AA [Member] | Other credit risk related portfolio products [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | |||
A [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 4,148 | 4,120 | |
A [Member] | Single-name credit default swaps [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 1,935 | 2,537 | |
A [Member] | Credit default indices [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 2,211 | 1,582 | |
A [Member] | Other credit risk related portfolio products [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 2 | 1 | |
BBB [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 6,861 | 6,213 | |
BBB [Member] | Single-name credit default swaps [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 2,643 | 3,411 | |
BBB [Member] | Credit default indices [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 4,027 | 2,663 | |
BBB [Member] | Other credit risk related portfolio products [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 191 | 139 | |
BB [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 2,605 | 2,532 | |
BB [Member] | Single-name credit default swaps [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 1,198 | 1,439 | |
BB [Member] | Credit default indices [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 1,318 | 1,068 | |
BB [Member] | Other credit risk related portfolio products [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 73 | 25 | |
BB [Member] | CreditRisk Related Options And Swaptions [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 16 | ||
Other [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | [1] | 859 | 765 |
Other [Member] | Single-name credit default swaps [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | [1] | 437 | 384 |
Other [Member] | Credit default indices [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | [1] | 331 | 315 |
Other [Member] | Other credit risk related portfolio products [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | [1] | ¥ 91 | ¥ 66 |
[1] | “Other” includes credit derivatives where the credit rating of the underlying reference asset is below investment grade or where a rating is unavailable. |
Revenue from services provide_3
Revenue from services provided to customers - Revenues by types of service (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Disaggregation of Revenue [Abstract] | |||
Commissions | ¥ 308,805 | ¥ 293,069 | ¥ 373,313 |
Fees from investment banking | 103,222 | 101,521 | 101,663 |
Asset management and portfolio service fees | 238,202 | 245,519 | ¥ 245,616 |
Other revenue | 49,901 | 54,284 | |
Total | ¥ 700,130 | ¥ 694,393 |
Revenue from services provide_4
Revenue from services provided to customers - Additional information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Disaggregation of Revenue [Line Items] | ||
Revenue from performance obligations satisfied in previous periods | ¥ 744 | ¥ 1,334 |
Revenue from services provide_5
Revenue from services provided to customers - Customer contract balances (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | |
Contract with Customer, Asset and Liability [Abstract] | |||
Customer contract receivables | ¥ 103,557 | ¥ 78,226 | |
Contract liabilities | [1] | ¥ 3,444 | ¥ 4,971 |
[1] | Contract liabilities primarily rise from investment advisory services and recognized in connection with the term of the contract based on time elapsed. |
Collateralized transactions - O
Collateralized transactions - Offsetting of the transactions in the consolidated balance sheets (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2020 | Mar. 31, 2019 | ||
Reverse repurchase agreements | ||||
Total gross balance | [1] | ¥ 32,425 | ¥ 32,312 | |
Less: Amounts offset in the consolidated balance sheets | [2] | (20,048) | (19,117) | |
Total net amounts of reported on the face of the consolidated balance sheets | [3] | 12,377 | 13,195 | |
Less: Additional amounts not offset in the consolidated balance sheets [Abstract] | ||||
Financial instruments and non-cash collateral | [4] | (10,507) | (11,445) | |
Cash collateral | [4] | (5) | (26) | |
Net amount | 1,865 | 1,724 | ||
Securities borrowing transactions | ||||
Total gross balance | [1] | 3,508 | 4,087 | |
Less: Amounts offset in the consolidated balance sheets | [2] | 0 | ||
Total net amounts of reported on the face of the consolidated balance sheets | [3] | 3,508 | 4,087 | |
Less: Additional amounts not offset in the consolidated balance sheets [Abstract] | ||||
Financial instruments and non-cash collateral | [4] | (2,381) | (2,580) | |
Cash collateral | [4] | 0 | ||
Net amount | 1,127 | 1,507 | ||
Repurchase agreements | ||||
Total gross balance | [1] | 36,397 | [5] | 34,154 |
Less: Amounts offset in the consolidated balance sheets | [2] | (20,048) | (19,117) | |
Total net amounts of reported on the face of the consolidated balance sheets | [3] | 16,349 | 15,037 | |
Less: Additional amounts not offset in the consolidated balance sheets [Abstract] | ||||
Financial instruments and non-cash collateral | [4] | (8,980) | (10,443) | |
Cash collateral | [4] | (40) | ||
Net amount | 7,329 | 4,594 | ||
Securities lending transactions | ||||
Total gross balance | [1] | 1,252 | [5] | 1,512 |
Less: Amounts offset in the consolidated balance sheets | [2] | 0 | ||
Total net amounts of reported on the face of the consolidated balance sheets | [3] | 1,252 | 1,512 | |
Less: Additional amounts not offset in the consolidated balance sheets [Abstract] | ||||
Financial instruments and non-cash collateral | [4] | (1,067) | (1,198) | |
Cash collateral | [4] | 0 | ||
Net amount | ¥ 185 | ¥ 314 | ||
[1] | Includes all recognized balances irrespective of whether they are transacted under a master netting agreement or whether Nomura has obtained sufficient evidence of enforceability of the master netting agreement. Amounts include transactions carried at fair value through election of the fair value option. As of March 31, 2019, the gross balance of reverse repurchase agreements and repurchase agreements which were not transacted under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥749 billion and ¥3,575 billion, respectively. As of March 31, 2019, the gross balance of securities borrowing transactions and securities lending transactions which were not transacted under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥1,398 billion and ¥209 billion, respectively. As of March 31, 2020, the gross balance of reverse repurchase agreements and repurchase agreements which were not transacted under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥627 billion and ¥6,356 billion, respectively. As of March 31, 2020, the gross balance of securities borrowing transactions and securities lending transactions which were not transacted under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥998 billion and ¥138 billion, respectively. | |||
[2] | Represents amounts offset through counterparty netting under master netting and similar agreements for which Nomura has obtained sufficient evidence of enforceability in accordance with ASC 210-20. Amounts offset include transactions carried at fair value through election of the fair value option. | |||
[3] | Reverse repurchase agreements and securities borrowing transactions are reported within Collateralized agreements—Securities purchased under agreements to resell and Collateralized agreements—Securities borrowed in the consolidated balance sheets, respectively. Repurchase agreements and securities lending transactions are reported within Collateralized financing—Securities sold under agreements to repurchase and Collateralized financing—Securities loaned in the consolidated balance sheets, respectively. Amounts reported under securities lending transactions also include transactions where Nomura lends securities and receives securities that can be sold or pledged as collateral. Nomura recognizes the securities received at fair value and a liability for the same amount, representing the obligation to return those securities. The liability is reported within Other liabilities in the consolidated balance sheets. | |||
[4] | Represents amounts which are not permitted to be offset on the face of the balance sheet in accordance with ASC 210-20 but which provide Nomura with the right of offset in the event of counterparty default. Amounts relating to agreements where Nomura has not yet obtained sufficient evidence of enforceability of such offsetting rights are excluded. | |||
[5] | Repurchase agreements and securities lending transactions are reported within Collateralized financing—Securities sold under agreements to repurchase and Collateralized financing—Securities loaned in the consolidated balance sheets, respectively. Amounts reported for securities lending transactions also include transactions where Nomura lends securities and receives securities that can be sold or pledged as collateral. Nomura recognizes the securities received at fair value and a liability for the same amount, representing the obligation to return those securities. The liability is reported within Other liabilities in the consolidated balance sheets. The total gross recognized liabilities reported for repurchase agreements and securities lending transactions are consistent with the total gross balances reported in the offsetting disclosures above. |
Collateralized transactions -_2
Collateralized transactions - Offsetting of the transactions in the consolidated balance sheets (Parenthetical) (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2020 | Mar. 31, 2019 |
Collateralized Transactions | ||
Gross balances of reverse repurchase agreements, not subject to enforceable master netting arrangements or similar agreements | ¥ 627 | ¥ 749 |
Gross balances of repurchase agreements, not subject to enforceable master netting arrangements or similar agreements | 6,356 | 3,575 |
Gross balances of securities borrowing transactions, not subject to enforceable master netting arrangements or similar agreements | 998 | 1,398 |
Gross balances of securities lending transactions, not subject to enforceable master netting arrangements or similar agreements | ¥ 138 | ¥ 209 |
Collateralized transactions - M
Collateralized transactions - Maturity analysis of repurchase agreements and securities lending transactions (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2020 | Mar. 31, 2019 | ||
Offsetting Liabilities [Line Items] | ||||
Repurchase agreements | [1] | ¥ 36,397 | [2] | ¥ 34,154 |
Securities lending transactions | [1] | 1,252 | [2] | ¥ 1,512 |
Total | [2] | 37,649 | ||
Overnight and open [Member] | ||||
Offsetting Liabilities [Line Items] | ||||
Repurchase agreements | [3] | 11,004 | ||
Securities lending transactions | [3] | 650 | ||
Total | [2],[3] | 11,654 | ||
Up to 30 days [Member] | ||||
Offsetting Liabilities [Line Items] | ||||
Repurchase agreements | 21,505 | |||
Securities lending transactions | 144 | |||
Total | [2] | 21,649 | ||
30 - 90 days [Member] | ||||
Offsetting Liabilities [Line Items] | ||||
Repurchase agreements | 2,570 | |||
Securities lending transactions | 227 | |||
Total | [2] | 2,797 | ||
90 days - 1 year [Member] | ||||
Offsetting Liabilities [Line Items] | ||||
Repurchase agreements | 983 | |||
Securities lending transactions | 231 | |||
Total | [2] | 1,214 | ||
Greater than 1 year [Member] | ||||
Offsetting Liabilities [Line Items] | ||||
Repurchase agreements | 335 | |||
Securities lending transactions | 0 | |||
Total | [2] | ¥ 335 | ||
[1] | Includes all recognized balances irrespective of whether they are transacted under a master netting agreement or whether Nomura has obtained sufficient evidence of enforceability of the master netting agreement. Amounts include transactions carried at fair value through election of the fair value option. As of March 31, 2019, the gross balance of reverse repurchase agreements and repurchase agreements which were not transacted under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥749 billion and ¥3,575 billion, respectively. As of March 31, 2019, the gross balance of securities borrowing transactions and securities lending transactions which were not transacted under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥1,398 billion and ¥209 billion, respectively. As of March 31, 2020, the gross balance of reverse repurchase agreements and repurchase agreements which were not transacted under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥627 billion and ¥6,356 billion, respectively. As of March 31, 2020, the gross balance of securities borrowing transactions and securities lending transactions which were not transacted under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥998 billion and ¥138 billion, respectively. | |||
[2] | Repurchase agreements and securities lending transactions are reported within Collateralized financing—Securities sold under agreements to repurchase and Collateralized financing—Securities loaned in the consolidated balance sheets, respectively. Amounts reported for securities lending transactions also include transactions where Nomura lends securities and receives securities that can be sold or pledged as collateral. Nomura recognizes the securities received at fair value and a liability for the same amount, representing the obligation to return those securities. The liability is reported within Other liabilities in the consolidated balance sheets. The total gross recognized liabilities reported for repurchase agreements and securities lending transactions are consistent with the total gross balances reported in the offsetting disclosures above. | |||
[3] | Open transactions do not have an explicit contractual maturity date and are terminable on demand by Nomura or the counterparty. |
Collateralized transactions - S
Collateralized transactions - Securities transferred in repurchase agreements and securities lending transactions (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2020 | Mar. 31, 2019 | ||
Financial Instruments Owned and Pledged as Collateral [Line Items] | ||||
Repurchase agreements | [1] | ¥ 36,397 | [2] | ¥ 34,154 |
Securities lending transactions | [1] | 1,252 | [2] | ¥ 1,512 |
Total | [2] | 37,649 | ||
Equities and convertible securities [Member] | ||||
Financial Instruments Owned and Pledged as Collateral [Line Items] | ||||
Repurchase agreements | 132 | |||
Securities lending transactions | 1,032 | |||
Total | 1,164 | |||
Japanese government, agency and municipal securities [Member] | ||||
Financial Instruments Owned and Pledged as Collateral [Line Items] | ||||
Repurchase agreements | 607 | |||
Securities lending transactions | 0 | |||
Total | 607 | |||
Foreign government, agency and municipal securities [Member] | ||||
Financial Instruments Owned and Pledged as Collateral [Line Items] | ||||
Repurchase agreements | 29,378 | |||
Securities lending transactions | 5 | |||
Total | 29,383 | |||
Bank and corporate debt securities [Member] | ||||
Financial Instruments Owned and Pledged as Collateral [Line Items] | ||||
Repurchase agreements | 1,821 | |||
Securities lending transactions | 178 | |||
Total | 1,999 | |||
Commercial mortgage-backed securities ("CMBS") [Member] | ||||
Financial Instruments Owned and Pledged as Collateral [Line Items] | ||||
Repurchase agreements | 26 | |||
Securities lending transactions | 0 | |||
Total | 26 | |||
Residential mortgage-backed securities ("RMBS") [Member] | ||||
Financial Instruments Owned and Pledged as Collateral [Line Items] | ||||
Repurchase agreements | [3] | 4,162 | ||
Securities lending transactions | [3] | 0 | ||
Total | [3] | 4,162 | ||
Collateralized debt obligations ("CDOs") and other [Member] | ||||
Financial Instruments Owned and Pledged as Collateral [Line Items] | ||||
Repurchase agreements | 265 | |||
Securities lending transactions | 0 | |||
Total | 265 | |||
Investment trust funds and other [Member] | ||||
Financial Instruments Owned and Pledged as Collateral [Line Items] | ||||
Repurchase agreements | 6 | |||
Securities lending transactions | 37 | |||
Total | ¥ 43 | |||
[1] | Includes all recognized balances irrespective of whether they are transacted under a master netting agreement or whether Nomura has obtained sufficient evidence of enforceability of the master netting agreement. Amounts include transactions carried at fair value through election of the fair value option. As of March 31, 2019, the gross balance of reverse repurchase agreements and repurchase agreements which were not transacted under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥749 billion and ¥3,575 billion, respectively. As of March 31, 2019, the gross balance of securities borrowing transactions and securities lending transactions which were not transacted under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥1,398 billion and ¥209 billion, respectively. As of March 31, 2020, the gross balance of reverse repurchase agreements and repurchase agreements which were not transacted under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥627 billion and ¥6,356 billion, respectively. As of March 31, 2020, the gross balance of securities borrowing transactions and securities lending transactions which were not transacted under master netting agreements or are documented under master netting agreements for which Nomura has not yet obtained sufficient evidence of enforceability was ¥998 billion and ¥138 billion, respectively. | |||
[2] | Repurchase agreements and securities lending transactions are reported within Collateralized financing—Securities sold under agreements to repurchase and Collateralized financing—Securities loaned in the consolidated balance sheets, respectively. Amounts reported for securities lending transactions also include transactions where Nomura lends securities and receives securities that can be sold or pledged as collateral. Nomura recognizes the securities received at fair value and a liability for the same amount, representing the obligation to return those securities. The liability is reported within Other liabilities in the consolidated balance sheets. The total gross recognized liabilities reported for repurchase agreements and securities lending transactions are consistent with the total gross balances reported in the offsetting disclosures above. | |||
[3] | Includes ¥4,021 billion of U.S. government sponsored agency mortgage pass through securities and collateralized mortgage obligations. |
Collateralized transactions -_3
Collateralized transactions - Securities transferred in repurchase agreements and securities lending transactions (Parenthetical) (Detail) ¥ in Billions | Mar. 31, 2020JPY (¥) |
Collateralized Transactions | |
U.S. government sponsored agency mortgage pass through securities and collateralized mortgage obligations | ¥ 4,021 |
Collateralized transactions -_4
Collateralized transactions - Schedule of securities received as collateral (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2020 | Mar. 31, 2019 |
Collateralized Transactions | ||
The fair value of securities received as collateral, securities borrowed as collateral and securities borrowed without collateral where Nomura is permitted by contract or custom to sell or repledge the securities | ¥ 46,439 | ¥ 46,924 |
The portion of the above that has been sold (reported within Trading liabilities in the consolidated balance sheets) or repledged | ¥ 38,054 | ¥ 38,551 |
Collateralized transactions - A
Collateralized transactions - Assets owned, pledged as collateral ,primarily to stock exchanges and clearing organizations (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Trading assets | ¥ 4,221,715 | ¥ 3,774,680 | |
Non-trading debt securities | 29 | 1,031 | |
Investments in and advances to affiliated companies | 2,760 | 501 | |
Equities and convertible securities [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Trading assets | 133,066 | 135,927 | |
Government and government agency securities [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Trading assets | 1,183,457 | 984,429 | |
Bank and corporate debt securities [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Trading assets | 59,734 | 61,547 | |
Commercial mortgage-backed securities ("CMBS") [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Trading assets | 0 | 0 | |
Residential mortgage-backed securities ("RMBS") [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Trading assets | 2,826,613 | 2,535,244 | |
Collateralized debt obligations ("CDOs") and other [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Trading assets | [1] | 12,406 | 42,607 |
Investment trust funds and other [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Trading assets | ¥ 6,439 | ¥ 14,926 | |
[1] | Includes CLOs and ABS such as those secured on credit card loans, auto loans and student loans. |
Collateralized transactions -_5
Collateralized transactions - Assets Subject to Lien (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Collateralized Transactions Assets Subject to Lien [Line Items] | ||
Assets subject to lien, amount | ¥ 1,603,894 | ¥ 1,779,641 |
Loans and receivables [Member] | ||
Collateralized Transactions Assets Subject to Lien [Line Items] | ||
Assets subject to lien, amount | 55,051 | 42,544 |
Trading assets and private equity and debt investments [Member] | ||
Collateralized Transactions Assets Subject to Lien [Line Items] | ||
Assets subject to lien, amount | 1,393,517 | 1,589,483 |
Office buildings, land, equipment and facilities [Member] | ||
Collateralized Transactions Assets Subject to Lien [Line Items] | ||
Assets subject to lien, amount | 5,258 | 5,371 |
Non-trading debt securities [Member] | ||
Collateralized Transactions Assets Subject to Lien [Line Items] | ||
Assets subject to lien, amount | 149,991 | 142,092 |
Other [Member] | ||
Collateralized Transactions Assets Subject to Lien [Line Items] | ||
Assets subject to lien, amount | ¥ 77 | ¥ 151 |
Securitizations and Variable _3
Securitizations and Variable Interest Entities - Additional information (Detail) - JPY (¥) ¥ in Billions | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Variable Interest Entity [Line Items] | ||
Cash proceeds from SPEs in new securitizations | ¥ 202 | ¥ 174 |
Debt securities issued by SPEs with an initial fair value | 1,769 | 1,308 |
Cash inflows from third parties on the sale of debt securities | 1,245 | 991 |
Cumulative balance of financial assets transferred to SPEs | 4,177 | 4,488 |
Retained interests | 163 | 138 |
Interests held in SPEs | ¥ 24 | ¥ 20 |
Securitizations and Variable _4
Securitizations and Variable Interest Entities - Fair value of retained interests (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2020 | Mar. 31, 2019 |
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | ¥ 163 | ¥ 138 |
Government, agency and municipal securities [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | 158 | 138 |
Bank and corporate debt securities [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | ||
CMBS and RMBS | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | 5 | 0 |
Investment grade [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | 158 | 138 |
Investment grade [Member] | Government, agency and municipal securities [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | 158 | 138 |
Investment grade [Member] | Bank and corporate debt securities [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | ||
Investment grade [Member] | CMBS and RMBS | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | 0 | 0 |
Other [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | 5 | 0 |
Other [Member] | Government, agency and municipal securities [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | 0 | 0 |
Other [Member] | Bank and corporate debt securities [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | ||
Other [Member] | CMBS and RMBS | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | 5 | 0 |
Level 1 [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | ||
Level 1 [Member] | Government, agency and municipal securities [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | ||
Level 1 [Member] | Bank and corporate debt securities [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | ||
Level 1 [Member] | CMBS and RMBS | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | ||
Level 2 [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | 158 | 138 |
Level 2 [Member] | Government, agency and municipal securities [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | 158 | 138 |
Level 2 [Member] | Bank and corporate debt securities [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | ||
Level 2 [Member] | CMBS and RMBS | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | 0 | 0 |
Level 3 [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | 5 | 0 |
Level 3 [Member] | Government, agency and municipal securities [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | ||
Level 3 [Member] | Bank and corporate debt securities [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | ||
Level 3 [Member] | CMBS and RMBS | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | ¥ 5 | ¥ 0 |
Securitizations and Variable _5
Securitizations and Variable Interest Entities - Type and carrying value of financial assets (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Liabilities [Abstract] | ||
Long-term borrowings | ¥ 7,775,665 | ¥ 7,915,769 |
Transferred to SPEs [Member] | ||
Trading assets | ||
Loans | 45,000 | 15,000 |
Liabilities [Abstract] | ||
Long-term borrowings | ¥ 45,000 | ¥ 15,000 |
Securitizations and Variable _6
Securitizations and Variable Interest Entities - Classification of consolidated VIEs' assets and liabilities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | ||
Consolidated VIE assets | |||||
Cash and cash equivalents | ¥ 3,191,889 | ¥ 2,686,659 | ¥ 2,354,639 | ||
Trading assets | |||||
Derivatives | 1,942,000 | 852,000 | |||
Private equity and debt investments | 44,278 | 30,077 | |||
Office buildings, land, equipment and facilities | 440,512 | 349,365 | |||
Other | 827,022 | 748,091 | |||
Trading liabilities | |||||
Derivatives | 1,803,000 | [1],[2] | 807,000 | ||
Borrowings | |||||
Short-term borrowings | [3] | 1,486,733 | 841,758 | ||
Long-term borrowings | 7,775,665 | 7,915,769 | |||
Variable Interest Entity, primary beneficiary [Member] | |||||
Consolidated VIE assets | |||||
Cash and cash equivalents | 10,000 | 20,000 | |||
Trading assets | |||||
Equities | 645,000 | 780,000 | |||
Debt securities | 454,000 | 426,000 | |||
CMBS and RMBS | 43,000 | 43,000 | |||
Investment trust funds and other | 0 | 5,000 | |||
Derivatives | 19,000 | 17,000 | |||
Private equity and debt investments | 11,000 | 2,000 | |||
Office buildings, land, equipment and facilities | 15,000 | 55,000 | |||
Other | 24,000 | 71,000 | |||
Total | 1,221,000 | 1,419,000 | |||
Trading liabilities | |||||
Derivatives | 19,000 | 23,000 | |||
Borrowings | |||||
Short-term borrowings | 117,000 | 151,000 | |||
Long-term borrowings | 830,000 | 884,000 | |||
Other | 4,000 | 3,000 | |||
Total | ¥ 970,000 | ¥ 1,061,000 | |||
[1] | Includes the amount of embedded derivatives bifurcated in accordance with ASC 815. | ||||
[2] | Net derivative assets and net derivative liabilities are generally reported within Trading assets and private equity investments—Trading assets and Trading liabilities, respectively in the consolidated balance sheet. Bifurcated embedded derivatives are reported within Short-term borrowings or Long-term borrowings depending on the maturity of the underlying host contract. | ||||
[3] | Includes secured borrowings of ¥173,690 million as of March 31, 2019 and ¥170,290 million as of March 31, 2020. |
Securitizations and Variable _7
Securitizations and Variable Interest Entities - Carrying amount of variable interests of unconsolidated VIEs and maximum exposure to loss (Detail) - JPY (¥) ¥ in Billions | Mar. 31, 2020 | Mar. 31, 2019 |
Variable Interest Entity [Line Items] | ||
Carrying amount of variable interests, Assets | ¥ 4,766 | ¥ 3,561 |
Carrying amount of variable interests, Liabilities | ||
Maximum exposure to loss to unconsolidated VIEs | 4,850 | 3,645 |
Equities [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying amount of variable interests, Assets | 35 | 29 |
Carrying amount of variable interests, Liabilities | ||
Maximum exposure to loss to unconsolidated VIEs | 35 | 29 |
Debt securities [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying amount of variable interests, Assets | 73 | 109 |
Carrying amount of variable interests, Liabilities | ||
Maximum exposure to loss to unconsolidated VIEs | 73 | 109 |
CMBS and RMBS [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying amount of variable interests, Assets | 3,631 | 2,654 |
Carrying amount of variable interests, Liabilities | ||
Maximum exposure to loss to unconsolidated VIEs | 3,631 | 2,654 |
Investment trust funds and other [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying amount of variable interests, Assets | 170 | 153 |
Carrying amount of variable interests, Liabilities | ||
Maximum exposure to loss to unconsolidated VIEs | 170 | 153 |
Private equity and debt investments [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying amount of variable interests, Assets | 11 | 12 |
Carrying amount of variable interests, Liabilities | ||
Maximum exposure to loss to unconsolidated VIEs | 11 | 12 |
Loans [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying amount of variable interests, Assets | 835 | 593 |
Carrying amount of variable interests, Liabilities | ||
Maximum exposure to loss to unconsolidated VIEs | 835 | 593 |
Other [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying amount of variable interests, Assets | 11 | 11 |
Carrying amount of variable interests, Liabilities | ||
Maximum exposure to loss to unconsolidated VIEs | 11 | 11 |
Commitments to extend credit and other guarantees [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying amount of variable interests, Assets | ||
Carrying amount of variable interests, Liabilities | ||
Maximum exposure to loss to unconsolidated VIEs | ¥ 84 | ¥ 84 |
Financing receivables - Summary
Financing receivables - Summary of loans receivable reported within Loans receivable or Investments in and advances to affiliated companies (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | |
Schedule of Financing Receivables [Line Items] | |||
Carried at amortized cost | ¥ 2,052,264 | ¥ 1,879,633 | |
Carried at fair value | [1] | 805,141 | 664,585 |
Total | 2,857,405 | 2,544,218 | |
Total [Member] | |||
Schedule of Financing Receivables [Line Items] | |||
Carried at amortized cost | 2,052,264 | 1,879,633 | |
Carried at fair value | [1] | 805,141 | 664,585 |
Total | 2,857,405 | 2,544,218 | |
Loans at banks [Member] | |||
Schedule of Financing Receivables [Line Items] | |||
Carried at amortized cost | 521,715 | 565,603 | |
Carried at fair value | [1] | 0 | |
Total | 521,715 | 565,603 | |
Short-term secured margin loans [Member] | |||
Schedule of Financing Receivables [Line Items] | |||
Carried at amortized cost | 296,833 | 334,389 | |
Carried at fair value | [1] | 8,905 | 5,088 |
Total | 305,738 | 339,477 | |
Inter-bank money market loans [Member] | |||
Schedule of Financing Receivables [Line Items] | |||
Carried at amortized cost | 865 | 1,699 | |
Carried at fair value | [1] | 0 | |
Total | 865 | 1,699 | |
Corporate loans [Member] | |||
Schedule of Financing Receivables [Line Items] | |||
Carried at amortized cost | 1,232,851 | 977,942 | |
Carried at fair value | [1] | 796,236 | 659,497 |
Total | ¥ 2,029,087 | ¥ 1,637,439 | |
[1] | Includes loans receivable and loan commitments carried at fair value through election of the fair value option. |
Financing receivables - Changes
Financing receivables - Changes in total allowance for credit losses (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | ||
Allowance for credit losses against loans [Roll Forward] | ||||
Opening balance, Allowance for credit losses against loans | ¥ 2,290 | ¥ 1,557 | ¥ 1,441 | |
Provision for credit losses, Allowance for credit losses against loans | 7,637 | 805 | 146 | |
Charge-offs, Allowance for credit losses against loans | 0 | (95) | 0 | |
Other, Allowance for credit losses against loans | [1] | (67) | 23 | (30) |
Ending balance, Allowance for credit losses against loans | 9,860 | 2,290 | 1,557 | |
Allowance for credit losses against receivables other than loans [Roll Forward] | ||||
Opening balance, Allowance for credit losses against receivables other than loans | 1,879 | 1,957 | 2,110 | |
Provision for credit losses, Allowance for credit losses against receivables other than loans | 1,451 | 30 | 24 | |
Charge-offs, Allowance for credit losses against receivables other than loans | (162) | (102) | ||
Other, Allowance for credit losses against receivables other than loans | [1] | (16) | (6) | (177) |
Ending balance, Allowance for credit losses against receivables other than loans | 3,152 | 1,879 | 1,957 | |
Total allowance for doubtful accounts [Roll Forward] | ||||
Opening balance, Total allowance for doubtful accounts | 4,169 | 3,514 | 3,551 | |
Provision for credit losses, Total allowance for doubtful accounts | 9,088 | 835 | 170 | |
Charge-offs, Total allowance for doubtful accounts | (162) | (197) | 0 | |
Other, Total allowance for doubtful accounts | [1] | (83) | 17 | (207) |
Ending balance, Total allowance for doubtful accounts | 13,012 | 4,169 | 3,514 | |
Loans at banks [Member] | ||||
Allowance for credit losses against loans [Roll Forward] | ||||
Opening balance, Allowance for credit losses against loans | 1,052 | 1,140 | 968 | |
Provision for credit losses, Allowance for credit losses against loans | 512 | 7 | 172 | |
Charge-offs, Allowance for credit losses against loans | 0 | (95) | 0 | |
Other, Allowance for credit losses against loans | [1] | |||
Ending balance, Allowance for credit losses against loans | 1,564 | 1,052 | 1,140 | |
Short-term secured margin loans [Member] | ||||
Allowance for credit losses against loans [Roll Forward] | ||||
Opening balance, Allowance for credit losses against loans | 370 | |||
Provision for credit losses, Allowance for credit losses against loans | 0 | 364 | ||
Charge-offs, Allowance for credit losses against loans | ||||
Other, Allowance for credit losses against loans | [1] | (18) | 6 | |
Ending balance, Allowance for credit losses against loans | 352 | 370 | ||
Corporate loans [Member] | ||||
Allowance for credit losses against loans [Roll Forward] | ||||
Opening balance, Allowance for credit losses against loans | 868 | 417 | 473 | |
Provision for credit losses, Allowance for credit losses against loans | 7,125 | 434 | (26) | |
Charge-offs, Allowance for credit losses against loans | 0 | 0 | ||
Other, Allowance for credit losses against loans | [1] | (49) | 17 | (30) |
Ending balance, Allowance for credit losses against loans | ¥ 7,944 | ¥ 868 | ¥ 417 | |
[1] | Includes the effect of foreign exchange movements. |
Financing receivables - Schedul
Financing receivables - Schedule of allowance for credit losses against loans and loans by impairment methodology and type of loans (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance by impairment methodology, Evaluated individually | ¥ 8,296 | ¥ 1,238 | ||
Allowance by impairment methodology, Evaluated collectively | 1,564 | 1,052 | ||
Total allowance for credit losses | 9,860 | 2,290 | ¥ 1,557 | ¥ 1,441 |
Loans by impairment methodology, Evaluated individually | 1,384,030 | 1,146,735 | ||
Loans by impairment methodology, Evaluated collectively | 668,234 | 732,898 | ||
Total loans | 2,052,264 | 1,879,633 | ||
Loans at banks [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance by impairment methodology, Evaluated individually | ||||
Allowance by impairment methodology, Evaluated collectively | 1,564 | 1,052 | ||
Total allowance for credit losses | 1,564 | 1,052 | 1,140 | 968 |
Loans by impairment methodology, Evaluated individually | 3,120 | 2,792 | ||
Loans by impairment methodology, Evaluated collectively | 518,595 | 562,811 | ||
Total loans | 521,715 | 565,603 | ||
Short-term secured margin loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance by impairment methodology, Evaluated individually | 352 | 370 | ||
Allowance by impairment methodology, Evaluated collectively | ||||
Total allowance for credit losses | 352 | 370 | ||
Loans by impairment methodology, Evaluated individually | 147,364 | 166,148 | ||
Loans by impairment methodology, Evaluated collectively | 149,469 | 168,241 | ||
Total loans | 296,833 | 334,389 | ||
Inter-bank money market loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance by impairment methodology, Evaluated individually | ||||
Allowance by impairment methodology, Evaluated collectively | ||||
Total allowance for credit losses | ||||
Loans by impairment methodology, Evaluated individually | 865 | 1,699 | ||
Loans by impairment methodology, Evaluated collectively | ||||
Total loans | 865 | 1,699 | ||
Corporate loans [Member] | ||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||
Allowance by impairment methodology, Evaluated individually | 7,944 | 868 | ||
Allowance by impairment methodology, Evaluated collectively | ||||
Total allowance for credit losses | 7,944 | 868 | ¥ 417 | ¥ 473 |
Loans by impairment methodology, Evaluated individually | 1,232,681 | 976,096 | ||
Loans by impairment methodology, Evaluated collectively | 170 | 1,846 | ||
Total loans | ¥ 1,232,851 | ¥ 977,942 |
Financing receivables - Additio
Financing receivables - Additional information (Detail) ¥ in Millions | Mar. 31, 2020JPY (¥) |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Financing receivable recorded investment nonaccrual status | ¥ 14,678 |
Impaired loans with a related allowance | 8,282 |
Corporate Loan [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Impaired financing receivable with related allowance unpaid principal balance | ¥ 14,658 |
Financing receivables - Analysi
Financing receivables - Analysis of each class of loans not carried at fair value using internal ratings or equivalent credit quality indicators (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | |
Financing receivable, recorded investment [Line items] | |||
Loans | ¥ 2,052,264 | ¥ 1,879,633 | |
AAA-BBB [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | 995,377 | 874,720 | |
AAA-BBB [Member] | Secured loans at banks [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | 167,886 | 149,048 | |
AAA-BBB [Member] | Unsecured loans at banks [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | 130,649 | 233,201 | |
AAA-BBB [Member] | Short-term secured margin loans [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | |||
AAA-BBB [Member] | Unsecured inter-bank money market loans [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | 865 | 1,699 | |
AAA-BBB [Member] | Secured corporate loans [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | 689,801 | 474,305 | |
AAA-BBB [Member] | Unsecured corporate loans [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | 6,176 | 16,467 | |
BB-CCC [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | 604,964 | 568,276 | |
BB-CCC [Member] | Secured loans at banks [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | 169,335 | 127,309 | |
BB-CCC [Member] | Unsecured loans at banks [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | 1,453 | 1,500 | |
BB-CCC [Member] | Short-term secured margin loans [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | |||
BB-CCC [Member] | Unsecured inter-bank money market loans [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | |||
BB-CCC [Member] | Secured corporate loans [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | 415,742 | 439,156 | |
BB-CCC [Member] | Unsecured corporate loans [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | 18,434 | 311 | |
CC-D [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | |||
CC-D [Member] | Secured loans at banks [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | |||
CC-D [Member] | Unsecured loans at banks [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | |||
CC-D [Member] | Short-term secured margin loans [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | |||
CC-D [Member] | Unsecured inter-bank money market loans [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | |||
CC-D [Member] | Secured corporate loans [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | |||
CC-D [Member] | Unsecured corporate loans [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | |||
Others [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | [1] | 451,923 | 436,637 |
Others [Member] | Secured loans at banks [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | [1] | 52,392 | 54,545 |
Others [Member] | Unsecured loans at banks [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | [1] | ||
Others [Member] | Short-term secured margin loans [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | [1] | 296,833 | 334,389 |
Others [Member] | Unsecured inter-bank money market loans [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | [1] | ||
Others [Member] | Secured corporate loans [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | [1] | 17,537 | 4,025 |
Others [Member] | Unsecured corporate loans [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | [1] | 85,161 | 43,678 |
Total [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | 2,052,264 | 1,879,633 | |
Total [Member] | Secured loans at banks [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | 389,613 | 330,902 | |
Total [Member] | Unsecured loans at banks [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | 132,102 | 234,701 | |
Total [Member] | Short-term secured margin loans [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | 296,833 | 334,389 | |
Total [Member] | Unsecured inter-bank money market loans [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | 865 | 1,699 | |
Total [Member] | Secured corporate loans [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | 1,123,080 | 917,486 | |
Total [Member] | Unsecured corporate loans [Member] | |||
Financing receivable, recorded investment [Line items] | |||
Loans | ¥ 109,771 | ¥ 60,456 | |
[1] | Relate to collateralized exposures where a specified ratio of LTV is maintained. |
Leases - Types of lease assets
Leases - Types of lease assets under operating leases (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | |
Operating Lease [Line Items] | |||
Cost | ¥ 16,425 | ¥ 57,901 | |
Accumulated depreciation | (933) | (1,808) | |
Net carrying amount | 15,492 | 56,093 | |
Real estate [Member] | |||
Operating Lease [Line Items] | |||
Cost | [1] | 354 | 2,771 |
Accumulated depreciation | [1] | (285) | (1,498) |
Net carrying amount | [1] | 69 | 1,273 |
Aircraft [Member] | |||
Operating Lease [Line Items] | |||
Cost | 16,071 | 55,130 | |
Accumulated depreciation | (648) | (310) | |
Net carrying amount | ¥ 15,423 | ¥ 54,820 | |
[1] | Cost, accumulated depreciation and net carrying amounts include amounts relating to real estate utilized by Nomura. |
Leases - Additional information
Leases - Additional information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Leases [Abstract] | |||
Recognized rental income | ¥ 2,732 | ¥ 2,292 | ¥ 1,377 |
Right-of-use asset for operating leases | ¥ 170,782 | ||
Rental expenses, net of sublease rental income | 44,564 | ¥ 44,202 | |
Capital lease assets | 26,561 | ||
Accumulated depreciation on capital lease assets | ¥ 8,272 |
Leases - Summary of future mini
Leases - Summary of future minimum lease payments to be received under noncancelable operating leases (Detail) ¥ in Millions | Mar. 31, 2020JPY (¥) |
Leases [Abstract] | |
Minimum lease payments to be received, Less than 1 year | ¥ 1,308 |
Minimum lease payments to be received, 1 to 2 years | 1,308 |
Minimum lease payments to be received, 2 to 3 years | 1,270 |
Minimum lease payments to be received, 3 to 4 years | 1,243 |
Minimum lease payments to be received, 4 to 5 years | 1,243 |
Minimum lease payments to be received, More than 5 years | 7,638 |
Minimum lease payments to be received, Total | ¥ 14,010 |
Leases - Summary of income and
Leases - Summary of income and expense for lease (Detail) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2020JPY (¥) | ||
Lease expense: | ||
Operating lease costs | ¥ 48,475 | |
Other income and expenses: | ||
Gross sublease income | ¥ 5,377 | [1] |
[1] | Gross sublease income represents income from subleases separate from lease payments made by Nomura on the head lease as lessee. |
Leases - Summary of cash flow i
Leases - Summary of cash flow information and initial recognition of right of use asset and lease liability related to operating leases (Detail) ¥ in Millions | 12 Months Ended |
Mar. 31, 2020JPY (¥) | |
Leases [Abstract] | |
Operating cash flows for operating leases | ¥ 47,212 |
ROU assets recognized in connection with new operating leases | ¥ 18,026 |
Leases - Summary of Lessee oper
Leases - Summary of Lessee operating lease liability maturity (Detail) ¥ in Millions | Mar. 31, 2020JPY (¥) |
Leases [Abstract] | |
Less than 1 year | ¥ 41,270 |
1 to 2 years | 31,087 |
2 to 3 years | 25,262 |
3 to 4 years | 23,081 |
4 to 5 years | 20,670 |
More than 5 years | 74,546 |
Total undiscounted lease payments | 215,916 |
Less: Impact of discounting | (23,756) |
Lease liabilities as reported in the consolidated balance sheets | ¥ 192,160 |
Leases - Summary of weighted av
Leases - Summary of weighted average discount rate and weighted average remaining lease term of operating leases (Detail) | Mar. 31, 2020 |
Leases [Abstract] | |
Weighted-average discount rate used to measure lease liabilities | 2.20% |
Weighted-average remaining lease term | 7 years 8 months 12 days |
Business Combinations - Additio
Business Combinations - Additional Information (Detail) ¥ in Millions | Apr. 01, 2020JPY (¥) |
Business Combinations [Abstract] | |
Business acquisition date of acquisition agreement | Apr. 1, 2020 |
Business acquisition percentage of voting interests acquired | 100.00% |
Business acquisition name of acquired entity | Greentech Capital, LLC |
Payments to acquire businesses | ¥ 12,389 |
Other assets-Other _ Other li_3
Other assets-Other / Other liabilities - Schedule of Other assets-Other and Other liabilities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | |
Other assets-Other: | |||
Securities received as collateral | ¥ 290,269 | ¥ 282,656 | |
Goodwill and other intangible assets | 17,783 | 19,792 | |
Deferred tax assets net | 13,431 | 15,026 | |
Investments in equity securities for other than trading or operating purposes | [1] | 141,855 | 175,015 |
Prepaid expenses | 16,262 | 14,544 | |
Other | 347,422 | 241,058 | |
Total, Other assets-Other | 827,022 | 748,091 | |
Other liabilities: | |||
Obligation to return securities received as collateral | 290,269 | 282,656 | |
Accrued income taxes | 16,362 | 11,898 | |
Other accrued expenses and provisions | 396,560 | 401,408 | |
Other | [2] | 331,257 | 162,905 |
Total, Other liabilities | ¥ 1,034,448 | ¥ 858,867 | |
[1] | Includes marketable and non-marketable equity securities held for other than trading or operating purposes. These investments comprise of listed equity securities and unlisted equity securities of ¥45,712 million and ¥129,303 million respectively, as of March 31, 2019, and ¥32,545 million and ¥109,310 million respectively, as of March 31, 2020. These securities are carried at fair value, with changes in fair value recognized within Revenue—Other in the consolidated statements of income. | ||
[2] | As a result of adopting ASU 2016-02 as of April 1, 2019, operating lease liabilities are presented through Other liabilities—Other. See Note 8 “Leases” for further information. |
Other assets-Other _ Other li_4
Other assets-Other / Other liabilities - Schedule of Other assets-Other and Other liabilities (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | |
Other Assets Other and Other Liabilities [Line Items] | |||
Investments in equity securities for other than trading or operating purposes | [1] | ¥ 141,855 | ¥ 175,015 |
Listed equity securities [Member] | |||
Other Assets Other and Other Liabilities [Line Items] | |||
Investments in equity securities for other than trading or operating purposes | 32,545 | 45,712 | |
Unlisted equity securities [Member] | |||
Other Assets Other and Other Liabilities [Line Items] | |||
Investments in equity securities for other than trading or operating purposes | ¥ 109,310 | ¥ 129,303 | |
[1] | Includes marketable and non-marketable equity securities held for other than trading or operating purposes. These investments comprise of listed equity securities and unlisted equity securities of ¥45,712 million and ¥129,303 million respectively, as of March 31, 2019, and ¥32,545 million and ¥109,310 million respectively, as of March 31, 2020. These securities are carried at fair value, with changes in fair value recognized within Revenue—Other in the consolidated statements of income. |
Other assets-Other _ Other li_5
Other assets-Other / Other liabilities - Schedule of changes in goodwill within Other assets-Other (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |||
Goodwill [Line Items] | |||||
Gross carrying amount, Beginning of year | ¥ 93,288 | ¥ 89,965 | |||
Accumulated Impairment, Beginning of year | (92,814) | (11,442) | |||
Net carrying amount, Beginning of year | 474 | 78,523 | |||
Acquisition, Changes during year | 0 | ||||
Impairment, Changes during year | 0 | (81,372) | [1] | ¥ 0 | |
Other, Changes during year | [2] | (2) | 3,323 | ||
Gross carrying amount, End of year | 93,286 | 93,288 | 89,965 | ||
Accumulated Impairment, End of year | (92,814) | (92,814) | (11,442) | ||
Net carrying amount, End of year | 472 | 474 | 78,523 | ||
Wholesale [Member] | |||||
Goodwill [Line Items] | |||||
Gross carrying amount, Beginning of year | 92,814 | 89,492 | |||
Accumulated Impairment, Beginning of year | (92,814) | (11,442) | |||
Net carrying amount, Beginning of year | 78,050 | ||||
Acquisition, Changes during year | 0 | ||||
Impairment, Changes during year | 0 | (81,372) | [1] | ||
Other, Changes during year | [2] | 0 | 3,322 | ||
Gross carrying amount, End of year | 92,814 | 92,814 | 89,492 | ||
Accumulated Impairment, End of year | (92,814) | (92,814) | (11,442) | ||
Net carrying amount, End of year | 0 | 78,050 | |||
Other [Member] | |||||
Goodwill [Line Items] | |||||
Gross carrying amount, Beginning of year | 474 | 473 | |||
Accumulated Impairment, Beginning of year | |||||
Net carrying amount, Beginning of year | 474 | 473 | |||
Acquisition, Changes during year | |||||
Impairment, Changes during year | 0 | 0 | [1] | ||
Other, Changes during year | [2] | (2) | 1 | ||
Gross carrying amount, End of year | 472 | 474 | 473 | ||
Accumulated Impairment, End of year | |||||
Net carrying amount, End of year | ¥ 472 | ¥ 474 | ¥ 473 | ||
[1] | For the year ended March 31, 2019, Nomura recognized impairment losses on goodwill of ¥81,372 million within the Wholesale segment. Nomura performed an impairment test based on Wholesale performance and changes in the operating environment, and impaired goodwill within the Wholesale segment. As a result, the balance of goodwill within the Wholesale segment as of March 31, 2019 was ¥nil. These impairment losses were recorded within Non-interest expense—Other in the consolidated statements of income. The fair values were determined based on a DCF method. | ||||
[2] | Includes currency translation adjustments. |
Other assets-Other _ Other li_6
Other assets-Other / Other liabilities - Schedule of changes in goodwill within Other assets-Other (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | ||
Goodwill [Line Items] | ||||
Impairment loss on goodwill | ¥ 0 | ¥ 81,372 | [1] | ¥ 0 |
Goodwill | 472 | 474 | 78,523 | |
Wholesale Segment [Member] | ||||
Goodwill [Line Items] | ||||
Impairment loss on goodwill | 0 | 81,372 | [1] | |
Goodwill | ¥ 0 | ¥ 78,050 | ||
[1] | For the year ended March 31, 2019, Nomura recognized impairment losses on goodwill of ¥81,372 million within the Wholesale segment. Nomura performed an impairment test based on Wholesale performance and changes in the operating environment, and impaired goodwill within the Wholesale segment. As a result, the balance of goodwill within the Wholesale segment as of March 31, 2019 was ¥nil. These impairment losses were recorded within Non-interest expense—Other in the consolidated statements of income. The fair values were determined based on a DCF method. |
Other assets-Other _ Other li_7
Other assets-Other / Other liabilities - Schedule of finite-lived intangible assets by type (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | ¥ 64,330 | ¥ 65,431 |
Accumulated amortization | (55,715) | (54,966) |
Net carrying amount | 8,615 | 10,465 |
Client relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 63,331 | 64,381 |
Accumulated amortization | (55,342) | (54,686) |
Net carrying amount | 7,989 | 9,695 |
Other [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross carrying amount | 999 | 1,050 |
Accumulated amortization | (373) | (280) |
Net carrying amount | ¥ 626 | ¥ 770 |
Other assets-Other _ Other li_8
Other assets-Other / Other liabilities - Additional information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Other assets-Other / Other liabilities [Abstract] | |||
Amortization expenses | ¥ 1,662 | ¥ 2,504 | ¥ 3,324 |
Indefinite-lived intangibles | ¥ 8,696 | ¥ 8,853 |
Other assets-Other _ Other li_9
Other assets-Other / Other liabilities - Estimated amortization expenses for next five years (Detail) ¥ in Millions | Mar. 31, 2020JPY (¥) |
Other assets-Other / Other liabilities [Abstract] | |
2021 | ¥ 4,050 |
2022 | 3,296 |
2023 | 181 |
2024 | 177 |
2025 | ¥ 174 |
Borrowings - Short-term and lon
Borrowings - Short-term and long-term borrowings (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | |
Short-term borrowings [Abstract] | |||
Total | [1] | ¥ 1,486,733 | ¥ 841,758 |
Long-term borrowings [Abstract] | |||
Long-term borrowings from banks and other financial institutions | [2] | 2,929,313 | 3,109,606 |
Bonds and notes issued | [3] | 4,791,628 | 4,781,665 |
Subtotal | 7,720,941 | 7,891,271 | |
Trading balances of secured borrowings | 54,724 | 24,498 | |
Total | 7,775,665 | 7,915,769 | |
Fixed-rate obligations [Member] | Japanese yen denominated [Member] | |||
Long-term borrowings [Abstract] | |||
Bonds and notes issued | [3] | 832,589 | 925,215 |
Fixed-rate obligations [Member] | Non-Japanese yen denominated [Member] | |||
Long-term borrowings [Abstract] | |||
Bonds and notes issued | [3] | 1,376,346 | 1,048,497 |
Floating-rate obligations [Member] | Japanese yen denominated [Member] | |||
Long-term borrowings [Abstract] | |||
Bonds and notes issued | [3] | 744,275 | 848,470 |
Floating-rate obligations [Member] | Non-Japanese yen denominated [Member] | |||
Long-term borrowings [Abstract] | |||
Bonds and notes issued | [3] | 242,612 | 265,154 |
Index / Equity-linked obligations [Member] | Japanese yen denominated [Member] | |||
Long-term borrowings [Abstract] | |||
Bonds and notes issued | [3] | 899,765 | 978,438 |
Index / Equity-linked obligations [Member] | Non-Japanese yen denominated [Member] | |||
Long-term borrowings [Abstract] | |||
Bonds and notes issued | [3] | 696,041 | 715,891 |
Short-term borrowings [Member] | |||
Short-term borrowings [Abstract] | |||
Commercial paper | [1] | 525,124 | 313,000 |
Bank borrowings | [1] | 565,130 | 77,101 |
Other | [1] | ¥ 396,479 | ¥ 451,657 |
[1] | Includes secured borrowings of ¥173,690 million as of March 31, 2019 and ¥170,290 million as of March 31, 2020. | ||
[2] | Includes secured borrowings of ¥65,517 million as of March 31, 2019 and ¥72,543 million as of March 31, 2020. | ||
[3] | Includes secured borrowings of ¥910,224 million as of March 31, 2019 and ¥774,319 million as of March 31, 2020. |
Borrowings - Short-term and l_2
Borrowings - Short-term and long-term borrowings (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Long-term borrowings from banks and other financial institutions [Member] | ||
Schedule of Borrowings [Line Items] | ||
Secured borrowings | ¥ 72,543 | ¥ 65,517 |
Bonds and notes issued [Member] | ||
Schedule of Borrowings [Line Items] | ||
Secured borrowings | 774,319 | 910,224 |
Short-term borrowings [Member] | ||
Schedule of Borrowings [Line Items] | ||
Secured borrowings | ¥ 170,290 | ¥ 173,690 |
Borrowings - Long-term borrowin
Borrowings - Long-term borrowings (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | |
Borrowings [Abstract] | |||
Debt issued by the Company | ¥ 2,873,634 | ¥ 2,869,376 | |
Debt issued by subsidiaries-guaranteed by the Company | 2,541,554 | 2,590,768 | |
Debt issued by subsidiaries-not guaranteed by the Company | [1] | 2,360,477 | 2,455,625 |
Total | ¥ 7,775,665 | ¥ 7,915,769 | |
[1] | Includes trading balances of secured borrowings. |
Borrowings - Additional informa
Borrowings - Additional information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Schedule of Borrowings [Line Items] | ||
Unutilized borrowing facilities | ||
Subordinated borrowings | ¥ 318,200 | ¥ 418,200 |
Fixed-rate obligations [Member] | ||
Schedule of Borrowings [Line Items] | ||
Long-term borrowings, Maturities start period | 2020 | 2019 |
Long-term borrowings, Maturities end period | 2067 | 2067 |
Fixed-rate obligations [Member] | Minimum [Member] | ||
Schedule of Borrowings [Line Items] | ||
Long-term borrowings, interest rate | 0.00% | 0.00% |
Fixed-rate obligations [Member] | Maximum [Member] | ||
Schedule of Borrowings [Line Items] | ||
Long-term borrowings, interest rate | 24.40% | 24.40% |
Floating-rate obligations [Member] | ||
Schedule of Borrowings [Line Items] | ||
Long-term borrowings, Maturities start period | 2020 | 2019 |
Long-term borrowings, Maturities end period | 2050 | 2049 |
Floating-rate obligations [Member] | Minimum [Member] | ||
Schedule of Borrowings [Line Items] | ||
Long-term borrowings, interest rate | 0.00% | 0.00% |
Floating-rate obligations [Member] | Maximum [Member] | ||
Schedule of Borrowings [Line Items] | ||
Long-term borrowings, interest rate | 5.00% | 6.78% |
Index / Equity-linked obligations [Member] | ||
Schedule of Borrowings [Line Items] | ||
Long-term borrowings, Maturities start period | 2020 | 2019 |
Long-term borrowings, Maturities end period | 2050 | 2049 |
Index / Equity-linked obligations [Member] | Minimum [Member] | ||
Schedule of Borrowings [Line Items] | ||
Long-term borrowings, interest rate | 0.00% | 0.00% |
Index / Equity-linked obligations [Member] | Maximum [Member] | ||
Schedule of Borrowings [Line Items] | ||
Long-term borrowings, interest rate | 39.90% | 30.30% |
Borrowings - Effective weighted
Borrowings - Effective weighted-average interest rates of borrowings (Detail) | Mar. 31, 2020 | Mar. 31, 2019 |
Schedule of Borrowings [Line Items] | ||
Short-term borrowings | 0.72% | 1.00% |
Long-term borrowings | 1.17% | 1.33% |
Fixed-rate obligations [Member] | ||
Schedule of Borrowings [Line Items] | ||
Long-term borrowings | 1.11% | 1.28% |
Floating-rate obligations [Member] | ||
Schedule of Borrowings [Line Items] | ||
Long-term borrowings | 1.37% | 1.57% |
Index / Equity-linked obligations [Member] | ||
Schedule of Borrowings [Line Items] | ||
Long-term borrowings | 0.80% | 0.86% |
Borrowings - Maturities of long
Borrowings - Maturities of long-term borrowings (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Borrowings [Abstract] | ||
2021 | ¥ 778,008 | |
2022 | 560,085 | |
2023 | 664,173 | |
2024 | 618,905 | |
2025 | 1,026,748 | |
2026 and thereafter | 4,073,022 | |
Subtotal | 7,720,941 | ¥ 7,891,271 |
Trading balances of secured borrowings | 54,724 | 24,498 |
Total | ¥ 7,775,665 | ¥ 7,915,769 |
Earnings per share - Earnings p
Earnings per share - Earnings per share (Basic and Diluted) (Detail) - JPY (¥) ¥ / shares in Units, ¥ in Millions, shares in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Basic- | |||
Net income (loss) attributable to NHI shareholders | ¥ 216,998 | ¥ (100,442) | ¥ 219,343 |
Weighted average number of shares outstanding | 3,202,369,845 | 3,359,564,840 | 3,474,593,441 |
Net income (loss) attributable to NHI shareholders per share | ¥ 67.76 | ¥ (29.90) | ¥ 63.13 |
Diluted- | |||
Net income (loss) attributable to NHI shareholders | ¥ 216,890 | ¥ (100,525) | ¥ 219,266 |
Weighted average number of shares outstanding | 3,276,510,404 | 3,359,566,740 | 3,543,602,532 |
Net income (loss) attributable to NHI shareholders per share | ¥ 66.20 | ¥ (29.92) | ¥ 61.88 |
Earnings per share - Additional
Earnings per share - Additional information (Detail) - shares | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |||
Antidilutive stock options and other stock-based compensation plans to purchase or deliver | 15,452,900 | 104,496,000 | 13,035,600 |
Employee benefit plans - Additi
Employee benefit plans - Additional information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Pension plans, postretirement and other employee benefits [Line items] | |||
Number of years required for payment | 2 years | ||
Excess percentage of the greater of the projected benefit obligation or the fair value of plan assets | 10.00% | ||
Average remaining service period of active participants | 14 years | ||
Accumulated benefit obligation | ¥ 303,523 | ¥ 315,423 | |
Fair value of plan assets | 225,744 | 232,885 | ¥ 234,050 |
Contributions to the defined contribution pension plans | 3,585 | 3,614 | 3,627 |
Contributions to overseas defined contribution pension plans | 8,497 | 9,293 | 9,265 |
Health care benefit cost | ¥ 9,308 | 9,828 | 8,082 |
London Interbank Offered Rate (LIBOR) [Member] | |||
Pension plans, postretirement and other employee benefits [Line items] | |||
Defined Benefit Plan Funded Percentage | 0.09033% | ||
Level 1 [Member] | |||
Pension plans, postretirement and other employee benefits [Line items] | |||
Fair value of plan assets | ¥ 23,464 | 50,537 | |
Level 2 [Member] | |||
Pension plans, postretirement and other employee benefits [Line items] | |||
Fair value of plan assets | 130,799 | 121,504 | |
Level 3 [Member] | |||
Pension plans, postretirement and other employee benefits [Line items] | |||
Fair value of plan assets | 65,081 | 54,383 | ¥ 51,727 |
Amount of unrealized profit (loss) of Level 3 assets | ¥ 7,665 | (588) | |
Equities [Member] | |||
Pension plans, postretirement and other employee benefits [Line items] | |||
Plan assets of domestic plans investments | 15.00% | ||
Equities [Member] | Level 1 [Member] | |||
Pension plans, postretirement and other employee benefits [Line items] | |||
Fair value of plan assets | ¥ 0 | 21,991 | |
Equities [Member] | Level 2 [Member] | |||
Pension plans, postretirement and other employee benefits [Line items] | |||
Fair value of plan assets | 0 | ||
Equities [Member] | Level 3 [Member] | |||
Pension plans, postretirement and other employee benefits [Line items] | |||
Fair value of plan assets | ¥ 0 | ||
Debt securities [Member] | |||
Pension plans, postretirement and other employee benefits [Line items] | |||
Plan assets of domestic plans investments | 44.00% | ||
Life insurance company general accounts [Member] | |||
Pension plans, postretirement and other employee benefits [Line items] | |||
Plan assets of domestic plans investments | 25.00% | ||
Life insurance company general accounts [Member] | Level 1 [Member] | |||
Pension plans, postretirement and other employee benefits [Line items] | |||
Fair value of plan assets | ¥ 0 | ||
Life insurance company general accounts [Member] | Level 2 [Member] | |||
Pension plans, postretirement and other employee benefits [Line items] | |||
Fair value of plan assets | 66,363 | 64,437 | |
Life insurance company general accounts [Member] | Level 3 [Member] | |||
Pension plans, postretirement and other employee benefits [Line items] | |||
Fair value of plan assets | ¥ 0 | ||
Other investments [Member] | |||
Pension plans, postretirement and other employee benefits [Line items] | |||
Plan assets of domestic plans investments | 16.00% | ||
Other investments [Member] | Level 1 [Member] | |||
Pension plans, postretirement and other employee benefits [Line items] | |||
Fair value of plan assets | ¥ 0 | ||
Other investments [Member] | Level 2 [Member] | |||
Pension plans, postretirement and other employee benefits [Line items] | |||
Fair value of plan assets | 40,508 | 39,748 | |
Other investments [Member] | Level 3 [Member] | |||
Pension plans, postretirement and other employee benefits [Line items] | |||
Fair value of plan assets | 0 | ||
Non-Japanese entities' plans [Member] | |||
Pension plans, postretirement and other employee benefits [Line items] | |||
Fair value of plan assets | 37,703 | 38,991 | |
Non-Japanese entities' plans [Member] | Level 1 [Member] | |||
Pension plans, postretirement and other employee benefits [Line items] | |||
Fair value of plan assets | 1,766 | 3,711 | |
Non-Japanese entities' plans [Member] | Level 2 [Member] | |||
Pension plans, postretirement and other employee benefits [Line items] | |||
Fair value of plan assets | 1,522 | 167 | |
Non-Japanese entities' plans [Member] | Level 3 [Member] | |||
Pension plans, postretirement and other employee benefits [Line items] | |||
Fair value of plan assets | 37,703 | 38,991 | |
Amount of unrealized profit (loss) of Level 3 assets | 2,509 | 4,358 | |
Overseas Subsidiaries [Member] | |||
Pension plans, postretirement and other employee benefits [Line items] | |||
Recognized asset for pension benefits | ¥ 13,949 | ¥ 12,762 |
Employee benefit plans - Net pe
Employee benefit plans - Net periodic benefit cost for defined benefit plans (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Employee Benefit Plans [Abstract] | |||
Service cost | ¥ 12,079 | ¥ 11,270 | ¥ 9,565 |
Interest cost | 1,766 | 2,180 | 2,258 |
Expected return on plan assets | (6,038) | (6,068) | (6,066) |
Amortization of net actuarial losses | 5,654 | 3,831 | 2,979 |
Amortization of prior service cost | (1,137) | (1,059) | (1,061) |
Net periodic benefit cost | ¥ 12,324 | ¥ 10,154 | ¥ 7,675 |
Employee benefit plans - Reconc
Employee benefit plans - Reconciliation of changes in projected benefit obligation and fair value of plan assets (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Change in projected benefit obligation: | |||
Projected benefit obligation at beginning of year | ¥ 315,423 | ¥ 287,983 | |
Service cost | 12,079 | 11,270 | ¥ 9,565 |
Interest cost | 1,766 | 2,180 | 2,258 |
Actuarial gain | (5,642) | 25,855 | |
Benefits paid | (13,301) | (11,953) | |
Amendments of pension benefit plans | (6,818) | ||
Acquisition, divestitures and other | 16 | 88 | |
Projected benefit obligation at end of year | 303,523 | 315,423 | 287,983 |
Change in plan assets: | |||
Fair value of plan assets at beginning of year | 232,885 | 234,050 | |
Actual return on plan assets | (2,934) | 3,574 | |
Employer contributions | 5,584 | 4,484 | |
Benefits paid | (9,791) | (9,223) | |
Fair value of plan assets at end of year | 225,744 | 232,885 | ¥ 234,050 |
Funded status at end of year | (77,779) | (82,538) | |
Amounts recognized in the consolidated balance sheets | ¥ (77,779) | ¥ (82,538) |
Employee benefit plans - Projec
Employee benefit plans - Projected benefit obligation, accumulated benefit obligation and fair value of plan assets for pension plans with ABO and PBO in excess of plan assets (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Plans with ABO in excess of plan assets: | ||
PBO | ¥ 77,779 | ¥ 82,538 |
ABO | 77,779 | 82,538 |
Fair value of plan assets | ||
Plans with PBO in excess of plan assets: | ||
PBO | 77,779 | 82,538 |
ABO | 77,779 | 82,538 |
Fair value of plan assets |
Employee benefit plans - Amount
Employee benefit plans - Amounts in Accumulated other comprehensive income, pre-tax, that have not yet been recognized as components of net periodic benefit cost (Detail) ¥ in Millions | Mar. 31, 2020JPY (¥) |
Employee Benefit Plans [Abstract] | |
Net actuarial loss | ¥ 107,098 |
Net prior service cost | (11,281) |
Total | ¥ 95,817 |
Employee benefit plans - Amou_2
Employee benefit plans - Amounts in Accumulated other comprehensive income, pre-tax, expected to be recognized as components of net periodic benefit cost over next fiscal year (Detail) ¥ in Millions | Mar. 31, 2020JPY (¥) |
Employee Benefit Plans [Abstract] | |
Net actuarial loss | ¥ 5,486 |
Net prior service cost | (1,601) |
Total | ¥ 3,885 |
Employee benefit plans - Schedu
Employee benefit plans - Schedule of weighted-average assumptions used to determine PBO (Detail) | Mar. 31, 2020 | Mar. 31, 2019 |
Employee Benefit Plans [Abstract] | ||
Discount rate | 0.60% | 0.60% |
Rate of increase in compensation levels | 0.30% | 1.60% |
Employee benefit plans - Weight
Employee benefit plans - Weighted-average assumptions used to determine net periodic benefit costs (Detail) | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Employee Benefit Plans [Abstract] | |||
Discount rate | 0.60% | 0.80% | 0.90% |
Rate of increase in compensation levels | 1.60% | 1.70% | 2.50% |
Expected long-term rate of return on plan assets | 2.60% | 2.60% | 2.60% |
Employee benefit plans - Inform
Employee benefit plans - Information about fair value of plan assets (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | ¥ 225,744 | ¥ 232,885 | ¥ 234,050 | |||
Level 1 [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 23,464 | 50,537 | ||||
Level 1 [Member] | Equities [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 0 | 21,991 | ||||
Level 1 [Member] | Private equity investments [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | [1] | 0 | ||||
Level 1 [Member] | Japanese government securities [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 23,464 | 25,980 | ||||
Level 1 [Member] | Foreign government, agency and municipal securities [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 0 | |||||
Level 1 [Member] | Bank and corporate debt securities [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 0 | 2,566 | ||||
Level 1 [Member] | Investment trust funds and other [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | [2],[3] | 0 | ||||
Level 1 [Member] | Life insurance company general accounts [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 0 | |||||
Level 1 [Member] | Other assets [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 0 | |||||
Level 2 [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 130,799 | 121,504 | ||||
Level 2 [Member] | Equities [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 0 | |||||
Level 2 [Member] | Private equity investments [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | [1] | 1,901 | 9,145 | |||
Level 2 [Member] | Japanese government securities [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 0 | |||||
Level 2 [Member] | Foreign government, agency and municipal securities [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 0 | 22 | ||||
Level 2 [Member] | Bank and corporate debt securities [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 0 | 2,082 | ||||
Level 2 [Member] | Investment trust funds and other [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | [2],[3] | 22,027 | 6,070 | |||
Level 2 [Member] | Life insurance company general accounts [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 66,363 | 64,437 | ||||
Level 2 [Member] | Other assets [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 40,508 | 39,748 | ||||
Level 3 [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 65,081 | 54,383 | 51,727 | |||
Level 3 [Member] | Equities [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 0 | |||||
Level 3 [Member] | Private equity investments [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 23,465 | [1] | 3,823 | [1] | 3,639 | |
Level 3 [Member] | Japanese government securities [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 0 | |||||
Level 3 [Member] | Foreign government, agency and municipal securities [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 0 | |||||
Level 3 [Member] | Bank and corporate debt securities [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 0 | |||||
Level 3 [Member] | Investment trust funds and other [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 41,616 | [2],[3] | 50,560 | [2],[3] | ¥ 48,088 | |
Level 3 [Member] | Life insurance company general accounts [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 0 | |||||
Level 3 [Member] | Other assets [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 0 | |||||
Fair value [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 219,344 | 226,424 | ||||
Fair value [Member] | Equities [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 0 | 21,991 | ||||
Fair value [Member] | Private equity investments [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | [1] | 25,366 | 12,968 | |||
Fair value [Member] | Japanese government securities [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 23,464 | 25,980 | ||||
Fair value [Member] | Foreign government, agency and municipal securities [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 0 | 22 | ||||
Fair value [Member] | Bank and corporate debt securities [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 0 | 4,648 | ||||
Fair value [Member] | Investment trust funds and other [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | [2],[3] | 63,643 | 56,630 | |||
Fair value [Member] | Life insurance company general accounts [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | 66,363 | 64,437 | ||||
Fair value [Member] | Other assets [Member] | ||||||
Pension plans, postretirement and other employee benefits [Line items] | ||||||
Fair value of plan assets | ¥ 40,508 | ¥ 39,748 | ||||
[1] | Includes corporate type equity investments. | |||||
[2] | Certain assets that are measured at fair value using net asset value per share as a practical expedient have not been classified in the fair value hierarchy. As of March 31, 2019 and March 31, 2020, the fair values of these assets were ¥6,462 million and ¥6,401 million, respectively. | |||||
[3] | Includes mainly debt investment funds. Hedge funds and real estate funds are also included. |
Employee benefit plans - Info_2
Employee benefit plans - Information about fair value of plan assets (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Amount of net asset value per share as a practical expedient [Member] | Investment trust funds and other [Member] | ||
Pension plans, postretirement and other employee benefits [Line items] | ||
Fair values of certain assets | ¥ 6,401 | ¥ 6,462 |
Employee benefit plans - Info_3
Employee benefit plans - Information about plan assets for which Level 3 inputs are utilized to determine fair value (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | |||
Pension plans, postretirement and other employee benefits [Line items] | ||||
Fair value of plan assets at beginning of year | ¥ 232,885 | ¥ 234,050 | ||
Fair value of plan assets at end of year | 225,744 | 232,885 | ||
Level 3 [Member] | ||||
Pension plans, postretirement and other employee benefits [Line items] | ||||
Fair value of plan assets at beginning of year | 54,383 | 51,727 | ||
Unrealized and realized gains / loss | (7,665) | 588 | ||
Purchases / sales and other settlement | 18,363 | 2,068 | ||
Fair value of plan assets at end of year | 65,081 | 54,383 | ||
Level 3 [Member] | Private equity investments [Member] | ||||
Pension plans, postretirement and other employee benefits [Line items] | ||||
Fair value of plan assets at beginning of year | 3,823 | [1] | 3,639 | |
Unrealized and realized gains / loss | (4,403) | (349) | ||
Purchases / sales and other settlement | 24,045 | 533 | ||
Fair value of plan assets at end of year | [1] | 23,465 | 3,823 | |
Level 3 [Member] | Investment trust funds and other [Member] | ||||
Pension plans, postretirement and other employee benefits [Line items] | ||||
Fair value of plan assets at beginning of year | 50,560 | [2],[3] | 48,088 | |
Unrealized and realized gains / loss | (3,262) | 937 | ||
Purchases / sales and other settlement | (5,682) | 1,535 | ||
Fair value of plan assets at end of year | [2],[3] | ¥ 41,616 | ¥ 50,560 | |
[1] | Includes corporate type equity investments. | |||
[2] | Certain assets that are measured at fair value using net asset value per share as a practical expedient have not been classified in the fair value hierarchy. As of March 31, 2019 and March 31, 2020, the fair values of these assets were ¥6,462 million and ¥6,401 million, respectively. | |||
[3] | Includes mainly debt investment funds. Hedge funds and real estate funds are also included. |
Employee benefit plans - Expect
Employee benefit plans - Expected benefit payments (Detail) ¥ in Millions | Mar. 31, 2020JPY (¥) |
Employee Benefit Plans [Abstract] | |
2021 | ¥ 13,167 |
2022 | 12,231 |
2023 | 12,733 |
2024 | 13,276 |
2025 | 14,049 |
2026-2030 | ¥ 63,956 |
Deferred compensation awards -
Deferred compensation awards - Additional information (Detail) - JPY (¥) ¥ / shares in Units, ¥ in Millions | May 27, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 |
RSU awards [Member] | |||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||||
Vesting period | 3 years | ||||
Extending vesting period | 7 years | ||||
Weighted-average grant date fair value per award | ¥ 365 | ¥ 530 | |||
Aggregate intrinsic values, outstanding | ¥ 28,997 | ||||
Total unrecognized compensation cost, based on fair value | ¥ 3,681 | ||||
Weighted-average period for recognizing unrecognized compensation cost (in years) | 1 year 7 months 6 days | ||||
Number shares delivered | 9,926,385 | ||||
Total Intrinsic Value | ¥ 6,231 | ||||
Intrinsic value of restricted stock unit awards | ¥ 6,613 | ||||
RSU awards [Member] | Subsequent event [Member] | |||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||||
Total number of RSU granded | 78,054,800 | ||||
RSU awards [Member] | Minimum [Member] | Subsequent event [Member] | |||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||||
Vesting period | 1 year | ||||
RSU awards [Member] | Maximum [Member] | Subsequent event [Member] | |||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||||
Vesting period | 3 years | ||||
Extending vesting period | 7 years | ||||
SAR Plan A awards [Member] | |||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||||
Stock option plans exercisable after grant date | 2 years | ||||
Stock option plans expire after grant date | 7 years | ||||
Weighted-average grant date fair value per share | ¥ 0 | ¥ 79 | ¥ 110 | ||
Total intrinsic values, exercised | ¥ 139 | ¥ 241 | ¥ 450 | ||
Aggregate intrinsic values, outstanding | |||||
Aggregate intrinsic values, exercisable | |||||
Total unrecognized compensation cost, based on fair value | ¥ 62 | ||||
Weighted-average period for recognizing unrecognized compensation cost (in years) | 7 months 6 days | ||||
Total fair value of awards vested | |||||
SAR Plan B awards [Member] | |||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||||
Exercise price per share | ¥ 1 | ||||
Vesting period | 3 years | ||||
Weighted-average grant date fair value per share | ¥ 588 | ||||
Total intrinsic values, exercised | ¥ 7,640 | ¥ 8,896 | ¥ 21,740 | ||
Aggregate intrinsic values, outstanding | 10,204 | ||||
Aggregate intrinsic values, exercisable | 7,394 | ||||
Total unrecognized compensation cost, based on fair value | ¥ 30 | ||||
Weighted-average period for recognizing unrecognized compensation cost (in years) | 1 year 8 months 12 days | ||||
Total fair value of awards vested | ¥ 4,309 | 10,757 | 17,539 | ||
SAR Plan A and SAR Plan B awards [Member] | |||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||||
Total compensation expense recognized within Non-interest expenses-Compensation and benefits | 12,694 | 21,814 | 9,650 | ||
Cash received from exercise of compensation plans | 285 | ||||
Tax benefit realized from exercise of deferred compensation | 785 | ||||
Tax benefits recognized in earnings for compensation expense | ¥ 13 | 90 | 566 | ||
NSU and CSU awards [Member] | |||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||||
Vesting period | 3 years | ||||
Total compensation expense recognized within Non-interest expenses-Compensation and benefits | ¥ 4,639 | 5,077 | 24,286 | ||
NSU awards [Member] | |||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||||
Total unrecognized compensation cost, based on fair value | ¥ 613 | ||||
Weighted-average period for recognizing unrecognized compensation cost (in years) | 10 months 24 days | ||||
Total fair value of awards vested | ¥ 9,980 | 11,481 | 17,103 | ||
NSU awards [Member] | Subsequent event [Member] | |||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||||
Vesting period | 7 years | ||||
Total grant date fair value | ¥ 6,000 | ||||
CSU awards [Member] | |||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||||
Total unrecognized compensation cost, based on fair value | ¥ 37 | ||||
Weighted-average period for recognizing unrecognized compensation cost (in years) | 2 years | ||||
Total fair value of awards vested | ¥ 3,445 | 6,282 | 11,871 | ||
NIU awards [Member] | |||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||||
Vesting period | 3 years | ||||
Total compensation expense recognized within Non-interest expenses-Compensation and benefits | ¥ 237 | 1,731 | 8,697 | ||
Total unrecognized compensation cost, based on fair value | ¥ 10 | ||||
Weighted-average period for recognizing unrecognized compensation cost (in years) | 2 years | ||||
Total fair value of awards vested | ¥ 2,795 | 5,091 | 7,669 | ||
NSUs, CSUs and NIU awards [Member] | |||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | |||||
Tax benefits recognized in earnings for compensation expense | ¥ 168 | ¥ 220 | ¥ 779 |
Deferred compensation awards _2
Deferred compensation awards - Activity relating to RSU awards (Detail) - RSU awards [Member] - ¥ / shares | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Outstanding | ||
Outstanding (number of shares), Beginning | 48,518,200 | |
Outstanding (number of shares), Granted | 33,786,200 | |
Outstanding (number of shares), Forfeited | (3,734,800) | |
Outstanding (number of shares), Delivered | (15,230,000) | |
Outstanding (number of shares), Ending | 63,339,600 | 48,518,200 |
Weighted-Average grant date fair value per share | ||
Weighted-average grant date fair value per share, Beginning | ¥ 530 | |
Weighted-average grant date fair value per share, Granted | 365 | |
Weighted-average grant date fair value per share, Forfeited | 441 | |
Weighted-average grant date fair value per share, Delivered | 530 | |
Weighted-average grant date fair value per share, Ending | ¥ 447 | ¥ 530 |
Weighted-average remaining life until expiry (years) | ||
Weighted-average remaining life until expiry (years), Outstanding | 1 year | 1 year 3 months 18 days |
Deferred compensation awards _3
Deferred compensation awards - SAR Plan A awards, weighted-average assumptions (Detail) | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Deferred Compensation Awards [Abstract] | |||
Expected volatility | 33.30% | 35.30% | |
Expected dividends yield | 3.67% | 3.07% | |
Expected lives (in years) | 4 years 6 months | 4 years 6 months | |
Risk-free interest rate | 0.10% | 0.10% |
Deferred compensation awards _4
Deferred compensation awards - Activity relating to SAR Plan A awards (Detail) - SAR Plan A awards [Member] - ¥ / shares | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Outstanding | ||
Outstanding (number of shares), Beginning | 16,539,300 | |
Outstanding (number of shares), Granted | ||
Outstanding (number of shares), Exercised | (900,800) | |
Outstanding (number of shares), Forfeited | (89,900) | |
Outstanding (number of shares), Expired | (95,700) | |
Outstanding (number of shares), Ending | 15,452,900 | 16,539,300 |
Outstanding (number of shares), Exercisable, Ending | 12,945,000 | |
Weighted-average exercise price | ||
Weighted-average exercise price, Beginning | ¥ 679 | |
Weighted-average exercise price, Granted | ||
Weighted-average exercise price, Exercised | 298 | |
Weighted-average exercise price, Forfeited | 630 | |
Weighted-average exercise price, Expired | 298 | |
Weighted-average exercise price, Ending | 704 | ¥ 679 |
Weighted-average exercise price, Exercisable, Ending | ¥ 729 | |
Weighted-average remaining life until expiry (years) | ||
Weighted-average remaining life until expiry (years), Outstanding | 3 years 1 month 6 days | 3 years 10 months 24 days |
Weighted-average remaining life until expiry (years), Exercisable | 2 years 7 months 6 days |
Deferred compensation awards _5
Deferred compensation awards - Activity relating to SAR Plan B awards (Detail) - SAR Plan B awards [Member] - ¥ / shares | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Outstanding | ||
Outstanding (number of shares), Beginning | 39,392,900 | |
Outstanding (number of shares), Granted | ||
Outstanding (number of shares), Exercised | (16,340,900) | |
Outstanding (number of shares), Forfeited | (399,900) | |
Outstanding (number of shares), Expired | (313,200) | |
Outstanding (number of shares), Ending | 22,338,900 | 39,392,900 |
Outstanding (number of shares), Exercisable, Ending | 16,186,800 | |
Weighted-Average grant date fair value per share | ||
Weighted-average grant date fair value per share, Beginning | ¥ 508 | |
Weighted-average grant date fair value per share, Granted | ||
Weighted-average grant date fair value per share, Exercised | 497 | |
Weighted-average grant date fair value per share, Forfeited | 531 | |
Weighted-average grant date fair value per share, Expired | 425 | |
Weighted-average grant date fair value per share, Ending | 517 | ¥ 508 |
Weighted-average grant date fair value per share, Exercisable, Ending | ¥ 512 | |
Weighted-average remaining life until expiry (years) | ||
Weighted-average remaining life until expiry (years), Outstanding | 3 years 4 months 24 days | 4 years 1 month 6 days |
Weighted-average remaining life until expiry (years), Exercisable | 2 years 6 months |
Deferred compensation awards _6
Deferred compensation awards - Activity relating to NSUs and CSUs (Detail) | 12 Months Ended | |
Mar. 31, 2020¥ / sharesshares | ||
NSUs [Member] | ||
Outstanding | ||
Outstanding (number of units), Beginning | 31,036,558 | |
Outstanding (number of units), Granted | 13,203,853 | |
Outstanding (number of units), Vested | (22,762,553) | |
Outstanding (number of units), Forfeited | (379,029) | |
Outstanding (number of units), Ending | 21,098,829 | |
Stock price | ||
Stock price, Beginning | ¥ / shares | ¥ 389 | |
Stock price, Granted | ¥ / shares | 405 | [1] |
Stock price, Vested | ¥ / shares | 438 | [2] |
Stock price, Ending | ¥ / shares | ¥ 445 | [3] |
CSUs [Member] | ||
Outstanding | ||
Outstanding (number of units), Beginning | 8,760,439 | |
Outstanding (number of units), Granted | ||
Outstanding (number of units), Vested | (5,728,731) | |
Outstanding (number of units), Forfeited | (230,052) | |
Outstanding (number of units), Ending | 2,801,656 | |
Stock price | ||
Stock price, Beginning | ¥ / shares | ¥ 603 | |
Stock price, Granted | ¥ / shares | ||
Stock price, Vested | ¥ / shares | 601 | [2] |
Stock price, Ending | ¥ / shares | ¥ 611 | [3] |
[1] | Weighted-average price of the Company’s common stock used to determine number of awards granted. | |
[2] | Weighted-average price of the Company’s common stock used to determine the final cash settlement amount of the awards. | |
[3] | The price of the Company’s common stock used to remeasure the fair value of the remaining outstanding unvested awards as of March 31, 2020. |
Deferred compensation awards _7
Deferred compensation awards - Activity relating to NIUs (Detail) - NIU awards [Member] | 12 Months Ended | |
Mar. 31, 2020$ / sharesshares | ||
Outstanding | ||
Outstanding (number of units), Beginning | 5,165,744 | |
Outstanding (number of units), Granted | ||
Outstanding (number of units), Vested | (4,127,154) | |
Outstanding (number of units), Forfeited | (198,636) | |
Outstanding (number of units), Ending | 839,954 | |
Index price | ||
Index price, Beginning | $ / shares | $ 6,043 | [1] |
Index price, Granted | $ / shares | [1] | |
Index price, Vested | $ / shares | 6,233 | [1],[2] |
Index price, Ending | $ / shares | $ 5,339 | [1],[3] |
[1] | The price of each unit is determined using 1/1000th of the index price. | |
[2] | Weighted-average index price used to determine the final cash settlement amount of the awards. | |
[3] | Index price used to remeasure the total fair value of the remaining outstanding unvested awards as of March 31, 2020. |
Deferred compensation awards _8
Deferred compensation awards - Activity relating to NIUs (Parenthetical) (Detail) | Mar. 31, 2020 |
Deferred Compensation Awards [Abstract] | |
Indicator of determination of price of the each units | 0.001 |
Restructuring initiatives - Add
Restructuring initiatives - Additional information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | |
Restructuring Initiatives [Abstract] | ||
Severance costs | ¥ 10,348 | |
Liabilities relating to restructuring costs including currency translation adjustments | ¥ 507 | |
Amount paid as severance costs | 9,305 | |
Branch consolidation costs | 4,390 | |
Liabilities relating to branch consolidation costs | ¥ 813 |
Income Taxes - Components of in
Income Taxes - Components of income tax expense (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Current: | |||
Domestic, Current | ¥ 42,099 | ¥ 26,725 | ¥ 35,018 |
Foreign, Current | 10,706 | 8,720 | 8,589 |
Subtotal, Current | 52,805 | 35,445 | 43,607 |
Deferred: | |||
Domestic, Deferred | (23,512) | 28,183 | 64,340 |
Foreign, Deferred | (399) | (6,618) | (4,081) |
Subtotal, Deferred | (23,911) | 21,565 | 60,259 |
Total, Income Tax Expense (Benefit) | ¥ 28,894 | ¥ 57,010 | ¥ 103,866 |
Income Taxes - Additional infor
Income Taxes - Additional information (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Income Taxes [Line Items] | |||
Income tax benefit recognized from operating losses | ¥ 1,195 | ¥ 246 | ¥ 4,653 |
Domestic effective statutory tax rate | 31.00% | 31.00% | 31.00% |
Net deferred tax assets reported within Other assets-Other | ¥ 13,431 | ¥ 15,026 | |
Net deferred tax liabilities reported within Other liabilities | 66,907 | ¥ 84,569 | |
Undistributed earnings, No deferred tax provided | 19,171 | ||
Operating loss carryforwards | 1,770,629 | ||
Indefinitely [Member] | |||
Income Taxes [Line Items] | |||
Operating loss carryforwards | 901,463 | ||
Initial term [Member] | |||
Income Taxes [Line Items] | |||
Operating loss carryforwards | ¥ 728,859 | ||
Expiration year | Mar. 31, 2029 | ||
Next term [Member] | |||
Income Taxes [Line Items] | |||
Operating loss carryforwards | ¥ 140,307 | ||
Company and domestic subsidiaries [Member] | Domestic [Member] | |||
Income Taxes [Line Items] | |||
Operating loss carryforwards | 511,293 | ||
Subsidiaries [Member] | United Kingdom [Member] | |||
Income Taxes [Line Items] | |||
Operating loss carryforwards | 548,544 | ||
Subsidiaries [Member] | United States [Member] | |||
Income Taxes [Line Items] | |||
Operating loss carryforwards | 416,254 | ||
Subsidiaries [Member] | Hong Kong [Member] | |||
Income Taxes [Line Items] | |||
Operating loss carryforwards | 225,108 | ||
Subsidiaries [Member] | Other tax jurisdictions [Member] | |||
Income Taxes [Line Items] | |||
Operating loss carryforwards | ¥ 69,430 | ||
Tax Cuts and Jobs Act [Member] | |||
Income Taxes [Line Items] | |||
U.S. federal corporate income tax rate | 21.00% | ||
Reduction in deferred tax liabilities and deferred tax expense | ¥ 2,776 |
Income taxes - Reconciliation o
Income taxes - Reconciliation of the effective income tax rate (Detail) | 12 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | ||
Income Tax [Abstract] | ||||
Effective statutory tax rate | 31.00% | 31.00% | 31.00% | |
Changes in deferred tax valuation allowances | (0.30%) | (58.30%) | (22.80%) | |
Additional taxable revenues | 0.60% | (2.90%) | 0.10% | |
Non-deductible expenses | [1] | 2.90% | (110.30%) | 1.90% |
Non-taxable revenue | [2] | (23.50%) | 16.80% | (3.60%) |
Dividends from foreign subsidiaries | 0.10% | 0.00% | 0.00% | |
Tax effect of undistributed earnings of foreign subsidiaries | 0.20% | (2.80%) | 0.00% | |
Different tax rate applicable to income (loss) of foreign subsidiaries | (0.90%) | (19.80%) | 0.80% | |
Effect of changes in foreign tax laws | (0.90%) | 0.50% | 23.50% | |
Effect of changes in domestic tax laws | 0.00% | |||
Tax benefit recognized on the devaluation of investment in subsidiaries and affiliates | (0.10%) | 5.40% | 1.70% | |
Other | 2.50% | (10.80%) | (0.90%) | |
Effective tax rate | 11.60% | (151.20%) | 31.70% | |
[1] | Non-deductible expenses during the year ended March 31, 2019 included approximately ¥21 billion relating to goodwill impairment losses (which increased Nomura’s effective tax rate by 56.3%) and approximately ¥13 billion relating to litigation provisions and settlements (which increased Nomura’s effective tax rate by 34.0%). | |||
[2] | Non-taxable income during the year ended March 31, 2020 includes approximately ¥53 billion of the tax effect from non-taxable dividend income from affiliated Nomura companies, including deemed dividend, (which decreased Nomura’s effective tax rate by 21.2%). |
Income taxes - Reconciliation_2
Income taxes - Reconciliation of the effective income tax rate (Parenthetical) (Detail) - JPY (¥) ¥ in Billions | 12 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | ||
Item of Non-deductible Expenses [Line Items] | ||||
Non-deductible expenses, impact rate | [1] | 2.90% | (110.30%) | 1.90% |
Non taxable income impact rate | [2] | (23.50%) | 16.80% | (3.60%) |
Impairment of goodwill [Member] | ||||
Item of Non-deductible Expenses [Line Items] | ||||
Non-deductible expenses, amount | ¥ 21 | |||
Non-deductible expenses, impact rate | 56.30% | |||
Legal costs [Member] | ||||
Item of Non-deductible Expenses [Line Items] | ||||
Non-deductible expenses, amount | ¥ 13 | |||
Non-deductible expenses, impact rate | 34.00% | |||
Dividend Income [Member] | ||||
Item of Non-deductible Expenses [Line Items] | ||||
Non taxable income impact rate | 21.20% | |||
Non taxable income amount | ¥ 53 | |||
[1] | Non-deductible expenses during the year ended March 31, 2019 included approximately ¥21 billion relating to goodwill impairment losses (which increased Nomura’s effective tax rate by 56.3%) and approximately ¥13 billion relating to litigation provisions and settlements (which increased Nomura’s effective tax rate by 34.0%). | |||
[2] | Non-taxable income during the year ended March 31, 2020 includes approximately ¥53 billion of the tax effect from non-taxable dividend income from affiliated Nomura companies, including deemed dividend, (which decreased Nomura’s effective tax rate by 21.2%). |
Income taxes - Significant comp
Income taxes - Significant components of deferred tax assets and liabilities (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | Mar. 31, 2017 |
Deferred tax assets | ||||
Depreciation, amortization and valuation of fixed assets | ¥ 19,932 | ¥ 20,008 | ||
Investments in subsidiaries and affiliates | 1,209 | 25,243 | ||
Valuation of financial instruments | 77,054 | 71,806 | ||
Accrued pension and severance costs | 24,356 | 29,711 | ||
Other accrued expenses and provisions | 51,566 | 44,803 | ||
Operating losses | 308,504 | 369,286 | ||
Lease liabilities | 47,680 | |||
Other | 9,394 | 9,213 | ||
Gross deferred tax assets | 539,695 | 570,070 | ||
Less-Valuation allowances | (388,411) | (444,916) | ¥ (422,280) | ¥ (519,492) |
Total deferred tax assets | 151,284 | 125,154 | ||
Deferred tax liabilities | ||||
Investments in subsidiaries and affiliates | 89,630 | 133,936 | ||
Valuation of financial instruments | 52,780 | 41,770 | ||
Undistributed earnings of foreign subsidiaries | 2,423 | 2,039 | ||
Valuation of fixed assets | 9,497 | 10,109 | ||
Right-of-use assets | 47,438 | |||
Other | 2,992 | 6,843 | ||
Total deferred tax liabilities | 204,760 | 194,697 | ||
Net deferred tax assets (liabilities) | ¥ (53,476) | ¥ (69,543) |
Income Taxes - Changes in valua
Income Taxes - Changes in valuation allowance for deferred tax assets (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | ||||
Income Tax [Abstract] | ||||||
Balance at beginning of year | ¥ 444,916 | ¥ 422,280 | ¥ 519,492 | |||
Net change during the year | (56,505) | [1] | 22,636 | [2] | (97,212) | [3] |
Balance at end of year | ¥ 388,411 | ¥ 444,916 | ¥ 422,280 | |||
[1] | Primarily includes a reduction of ¥59,330 million of valuation allowances of certain foreign subsidiaries mainly by expiration of loss carryforwards, an increase of ¥11,462 million of valuation allowances mainly due to a decrease of Valuation of financial instruments, and a reduction of ¥8,637 million related to Japanese subsidiaries and the Company mainly by utilization of loss carryforwards. In total, ¥56,505 million of allowances decreased for the year ended March 31, 2020. | |||||
[2] | Primarily includes an increase of ¥11,843 million of valuation allowances of certain foreign subsidiaries mainly due to an increase in valuation allowances related to operating loss carryforwards, partially offset by a decrease of valuation allowances related to accrued expenses and provisions, an increase of ¥6,265 million related to Japanese subsidiaries and the Company because of an increase in valuation allowances related to operating loss carryforwards recognized in the current year, an increase of ¥14,976 million of valuation allowances related to Japanese subsidiaries and the Company as a result of changes in the expected realization of deferred tax assets, and a reduction of ¥10,448 million of valuation allowances related to expiration of operating loss carryforwards. In total, ¥22,636 million of allowances increased for the year ended March 31, 2019. | |||||
[3] | Primarily includes a reduction of ¥80,459 million of valuation allowances of certain foreign subsidiaries mainly due to changes in tax laws in the U.S., an increase of ¥17,340 million related to Japanese subsidiaries and the Company because of an increase in valuation allowances related to operating loss carryforwards, and a reduction of ¥34,093 million of valuation allowances related to Japanese subsidiaries and the Company as a result of changes in the expected realization of deferred tax assets. In total, ¥97,212 million of allowances decreased for the year ended March 31, 2018. |
Income Taxes - Changes in val_2
Income Taxes - Changes in valuation allowance for deferred tax assets (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | ||||
Income Tax [Abstract] | ||||||
Increase (decrease) of valuation allowances of certain foreign subsidiaries | ¥ 59,330 | ¥ 11,843 | ¥ 80,459 | |||
Increase (decrease) in valuation allowances related to operating loss carryforwards | 8,637 | 6,265 | 17,340 | |||
Increase (decrease) of valuation allowances related to Japanese subsidiaries and the Company as a result of changes in the expected realization of deferred tax assets | 14,976 | 34,093 | ||||
Reduction of valuation allowances related to expiration of operating loss carryforwards | (10,448) | |||||
Total, Net change during the year | (56,505) | [1] | ¥ 22,636 | [2] | ¥ (97,212) | [3] |
Increase (decrease) in valuation allowances related to valuation of financial instruments | ¥ 11,462 | |||||
[1] | Primarily includes a reduction of ¥59,330 million of valuation allowances of certain foreign subsidiaries mainly by expiration of loss carryforwards, an increase of ¥11,462 million of valuation allowances mainly due to a decrease of Valuation of financial instruments, and a reduction of ¥8,637 million related to Japanese subsidiaries and the Company mainly by utilization of loss carryforwards. In total, ¥56,505 million of allowances decreased for the year ended March 31, 2020. | |||||
[2] | Primarily includes an increase of ¥11,843 million of valuation allowances of certain foreign subsidiaries mainly due to an increase in valuation allowances related to operating loss carryforwards, partially offset by a decrease of valuation allowances related to accrued expenses and provisions, an increase of ¥6,265 million related to Japanese subsidiaries and the Company because of an increase in valuation allowances related to operating loss carryforwards recognized in the current year, an increase of ¥14,976 million of valuation allowances related to Japanese subsidiaries and the Company as a result of changes in the expected realization of deferred tax assets, and a reduction of ¥10,448 million of valuation allowances related to expiration of operating loss carryforwards. In total, ¥22,636 million of allowances increased for the year ended March 31, 2019. | |||||
[3] | Primarily includes a reduction of ¥80,459 million of valuation allowances of certain foreign subsidiaries mainly due to changes in tax laws in the U.S., an increase of ¥17,340 million related to Japanese subsidiaries and the Company because of an increase in valuation allowances related to operating loss carryforwards, and a reduction of ¥34,093 million of valuation allowances related to Japanese subsidiaries and the Company as a result of changes in the expected realization of deferred tax assets. In total, ¥97,212 million of allowances decreased for the year ended March 31, 2018. |
Income Taxes - Summarizes major
Income Taxes - Summarizes major jurisdictions subject to examination (Detail) | 12 Months Ended | |
Mar. 31, 2020 | ||
Japan [Member] | ||
Income Tax Contingency [Line Items] | ||
Income tax examination, year(s) under examination | 2015 | [1] |
United Kingdom [Member] | ||
Income Tax Contingency [Line Items] | ||
Income tax examination, year(s) under examination | 2016 | |
United States [Member] | ||
Income Tax Contingency [Line Items] | ||
Income tax examination, year(s) under examination | 2017 | |
[1] | The earliest year in which Nomura remains subject to examination for transfer pricing issues is 2014. |
Other comprehensive income (l_3
Other comprehensive income (loss) - Changes in Accumulated other comprehensive income (loss) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||||
Mar. 31, 2020 | Mar. 31, 2019 | ||||
Accumulated other comprehensive income (loss) [Line Items] | |||||
Balance at beginning of year | ¥ (29,050) | ¥ (59,356) | |||
Other comprehensive income (loss) before reclassifications | (685) | 24,010 | |||
Reclassifications out of accumulated other comprehensive income (loss) | 3,630 | [1] | 6,296 | ||
Net change during the year | 2,945 | 30,306 | |||
Balance at end of year | (26,105) | (29,050) | |||
Cumulative translation adjustments [Member] | |||||
Accumulated other comprehensive income (loss) [Line Items] | |||||
Balance at beginning of year | [2] | 17,833 | (15,596) | ||
Other comprehensive income (loss) before reclassifications | (44,730) | 28,248 | [2] | ||
Reclassifications out of accumulated other comprehensive income (loss) | 623 | 5,181 | [2] | ||
Net change during the year | (44,107) | 33,429 | [2] | ||
Balance at end of year | (26,274) | 17,833 | [2] | ||
Pension liability adjustment [Member] | |||||
Accumulated other comprehensive income (loss) [Line Items] | |||||
Balance at beginning of year | [3] | (71,107) | (47,837) | ||
Other comprehensive income (loss) before reclassifications | [3] | 4,528 | (25,182) | ||
Reclassifications out of accumulated other comprehensive income (loss) | [3] | 4,008 | 1,912 | ||
Net change during the year | [3] | 8,536 | (23,270) | ||
Balance at end of year | [3] | (62,571) | (71,107) | ||
Own credit adjustments [Member] | |||||
Accumulated other comprehensive income (loss) [Line Items] | |||||
Balance at beginning of year | 24,224 | 4,077 | |||
Other comprehensive income (loss) before reclassifications | 39,517 | 20,944 | |||
Reclassifications out of accumulated other comprehensive income (loss) | (1,001) | (797) | |||
Net change during the year | 38,516 | 20,147 | |||
Balance at end of year | ¥ 62,740 | ¥ 24,224 | |||
[1] | Reclassifications out of accumulated other comprehensive income (loss) were not significant. | ||||
[2] | Change in cumulative translation adjustments, net of tax in other comprehensive income (loss) for the year ended March 31, 2019 includes reclassification adjustment of ¥6,956 million for loss due to substantially complete liquidation of an investment in a foreign entity. The adjustment is recognized in Non-interest expenses-Other. | ||||
[3] | See Note 13 “Employee benefit plans” for further information. |
Other comprehensive income (l_4
Other comprehensive income (loss) - Changes in Accumulated other comprehensive income (loss) (Parenthetical) (Detail) ¥ in Millions | 12 Months Ended |
Mar. 31, 2019JPY (¥) | |
Reclassifications out of accumulated other comprehensive income (loss) [Member] | Cumulative translation adjustments [Member] | |
Affected line items in consolidated statements of income [Line Items] | |
Reclassification adjustment for profit (loss) | ¥ 6,956 |
Other comprehensive income (l_5
Other comprehensive income (loss) - Significant reclassifications out of Accumulated other comprehensive income (loss) (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Affected line items in consolidated statements of income [Line Items] | |||
Revenue—Other / Non-interest expenses—Other | ¥ 165,991 | ¥ 81,057 | ¥ 221,192 |
Income tax expense | (28,894) | (57,010) | (103,866) |
Net income (loss) | 219,367 | (94,711) | 224,292 |
Net income attributable to noncontrolling interests | (2,369) | (5,731) | (4,949) |
Net income (loss) attributable to NHI shareholders | 216,998 | (100,442) | ¥ 219,343 |
Reclassifications out of accumulated other comprehensive income (loss) [Member] | Cumulative translation adjustments [Member] | |||
Affected line items in consolidated statements of income [Line Items] | |||
Revenue—Other / Non-interest expenses—Other | (886) | (5,181) | |
Income tax expense | 263 | ||
Net income (loss) | (623) | (5,181) | |
Net income attributable to noncontrolling interests | |||
Net income (loss) attributable to NHI shareholders | (623) | (5,181) | |
Reclassifications out of accumulated other comprehensive income (loss) [Member] | Pension liability adjustment [Member] | |||
Affected line items in consolidated statements of income [Line Items] | |||
Non-interest expenses-Compensation and benefits | (5,792) | (2,771) | |
Income tax expense | 1,784 | 859 | |
Net income (loss) | (4,008) | (1,912) | |
Net income attributable to noncontrolling interests | |||
Net income (loss) attributable to NHI shareholders | (4,008) | (1,912) | |
Reclassifications out of accumulated other comprehensive income (loss) [Member] | Own credit adjustments [Member] | |||
Affected line items in consolidated statements of income [Line Items] | |||
Revenue—Other / Non-interest expenses—Other | 1,132 | 804 | |
Income tax expense | (131) | (7) | |
Net income (loss) | 1,001 | 797 | |
Net income attributable to noncontrolling interests | |||
Net income (loss) attributable to NHI shareholders | ¥ 1,001 | ¥ 797 |
Shareholders' equity - Changes
Shareholders' equity - Changes in shares of common stock outstanding (Detail) - shares | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Stockholders' Equity [Abstract] | |||
Common stock outstanding at beginning of year | 3,310,800,799 | 3,392,937,486 | 3,528,429,451 |
Decrease of common stock by cancellation of treasury stock | (150,000,000) | (179,000,000) | |
Common stock held in treasury: | |||
Repurchases of common stock | (299,381,781) | (100,020,867) | (170,027,391) |
Sales of common stock | 390 | 180 | 201 |
Common stock issued to employees | 27,168,085 | 17,894,000 | 34,115,500 |
Cancellation of treasury stock | 150,000,000 | 179,000,000 | |
Other net change in treasury stock | (10,000) | 419,725 | |
Common stock outstanding at end of year | 3,038,587,493 | 3,310,800,799 | 3,392,937,486 |
Shareholders' equity - Addition
Shareholders' equity - Additional information (Detail) - JPY (¥) ¥ / shares in Units, ¥ in Millions | Jun. 18, 2019 | Apr. 26, 2018 | Oct. 30, 2017 | Apr. 27, 2017 | Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 |
Class of Stock [Line Items] | |||||||
Amounts available for distributions | ¥ 1,297,560 | ¥ 1,209,861 | ¥ 1,311,894 | ||||
Dividends on common stock per share | ¥ 20 | ¥ 6 | ¥ 20 | ||||
Cancellation of treasury stock | 150,000,000 | 179,000,000 | |||||
Repurchased shares of common stock | 299,381,781 | 100,020,867 | 170,027,391 | ||||
Minimum tradable quantity of share lot | 100 | ||||||
Board of directors meeting held on April 27, 2017 [Member] | |||||||
Class of Stock [Line Items] | |||||||
Total number of shares authorized for repurchase | 100,000,000 | ||||||
Total value of shares authorized for repurchase | ¥ 80,000 | ||||||
Repurchased shares of common stock | 100,000,000 | ||||||
Repurchased shares of common stock at cost | ¥ 62,349 | ||||||
Board of directors meeting held on April 27, 2017 [Member] | Minimum [Member] | |||||||
Class of Stock [Line Items] | |||||||
Share buyback program date | May 17, 2017 | ||||||
Board of directors meeting held on April 27, 2017 [Member] | Maximum [Member] | |||||||
Class of Stock [Line Items] | |||||||
Share buyback program date | Mar. 30, 2018 | ||||||
Board of directors meeting held on October 30, 2017 [Member] | |||||||
Class of Stock [Line Items] | |||||||
Total number of shares authorized for repurchase | 70,000,000 | ||||||
Total value of shares authorized for repurchase | ¥ 50,000 | ||||||
Repurchased shares of common stock | 70,000,000 | ||||||
Repurchased shares of common stock at cost | ¥ 46,729 | ||||||
Board of directors meeting held on October 30, 2017 [Member] | Minimum [Member] | |||||||
Class of Stock [Line Items] | |||||||
Share buyback program date | Nov. 15, 2017 | ||||||
Board of directors meeting held on October 30, 2017 [Member] | Maximum [Member] | |||||||
Class of Stock [Line Items] | |||||||
Share buyback program date | Mar. 30, 2018 | ||||||
Board of directors meeting held on April 26, 2018 [Member] | |||||||
Class of Stock [Line Items] | |||||||
Total number of shares authorized for repurchase | 100,000,000 | ||||||
Total value of shares authorized for repurchase | ¥ 70,000 | ||||||
Repurchased shares of common stock | 100,000,000 | ||||||
Repurchased shares of common stock at cost | ¥ 51,703 | ||||||
Board of directors meeting held on April 26, 2018 [Member] | Minimum [Member] | |||||||
Class of Stock [Line Items] | |||||||
Share buyback program date | May 16, 2018 | ||||||
Board of directors meeting held on April 26, 2018 [Member] | Maximum [Member] | |||||||
Class of Stock [Line Items] | |||||||
Share buyback program date | Mar. 29, 2019 | ||||||
Board of directors meeting held on June 18, 2019 [Member] | |||||||
Class of Stock [Line Items] | |||||||
Total number of shares authorized for repurchase | 300,000,000 | ||||||
Total value of shares authorized for repurchase | ¥ 150,000 | ||||||
Repurchased shares of common stock | 299,362,300 | ||||||
Repurchased shares of common stock at cost | ¥ 150,000 | ||||||
Board of directors meeting held on June 18, 2019 [Member] | Minimum [Member] | |||||||
Class of Stock [Line Items] | |||||||
Share buyback program date | Jun. 19, 2019 | ||||||
Board of directors meeting held on June 18, 2019 [Member] | Maximum [Member] | |||||||
Class of Stock [Line Items] | |||||||
Share buyback program date | Mar. 31, 2020 |
Regulatory requirements - Addit
Regulatory requirements - Additional information (Detail) ¥ in Millions | Mar. 31, 2020JPY (¥) | Mar. 31, 2020USD ($) | Mar. 31, 2019JPY (¥) |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Common equity Tier 1 capital ratio | 7.51% | 7.51% | |
Tier 1 capital ratio | 9.01% | 9.01% | |
Consolidated Capital adequacy ratio | 11.01% | 11.01% | |
Quantified total of business risk | 120.00% | 120.00% | 120.00% |
Segregated client cash recognized as an asset in Deposits with stock exchanges and other segregated cash | ¥ | ¥ 112,245 | ¥ 145,325 | |
Segregated securities recognized as assets in Trading assets and Collateralized agreements | ¥ | ¥ 901,180 | ¥ 693,192 | |
NSC [Member] | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Quantified total of business risk | 120.00% | 120.00% | 120.00% |
NFPS [Member] | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Quantified total of business risk | 120.00% | 120.00% | 120.00% |
NSI [Member] | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Ratio of net capital under the alternative method | 2.00% | 2.00% | |
Percentage of total risk margin requirement | 8.00% | 8.00% | |
Amount of maintenance of net capital as cash | $ 1,000,000 | ||
NGFP [Membrer] | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Net capital defined under the alternative method | 20,000,000 | ||
ILLC [Member] | |||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Net capital defined under the alternative method | $ 1,000,000 | ||
Ratio of net capital under the alternative method | 2.00% | 2.00% |
Affiliated companies and othe_3
Affiliated companies and other equity-method investees - Additional information (Detail) - JPY (¥) ¥ in Millions | Aug. 21, 2019 | Mar. 31, 2020 | Jul. 28, 2017 |
NRI [Member] | |||
Subsidiary or Equity Method Investee [Line Items] | |||
Number of shares sold | 101,889,300 | ||
Number of shares sold value | ¥ 159,966 | ||
Gain loss on litigation settlement | ¥ 73,293 | ||
JAFCO [Member] | |||
Subsidiary or Equity Method Investee [Line Items] | |||
Number of shares sold by parent company | 8,488,200 | ||
NRI [Member] | |||
Subsidiary or Equity Method Investee [Line Items] | |||
Ownership percentage | 28.80% | ||
Equity method goodwill, remaining carrying value | ¥ 61,310 | ||
NREH [Member] | |||
Subsidiary or Equity Method Investee [Line Items] | |||
Ownership percentage | 35.90% | ||
Equity method goodwill, remaining carrying value | ¥ 11,012 |
Affiliated companies and othe_4
Affiliated companies and other equity-method investees - Summary of financial information for significant affiliated companies and other equity-method investees (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | ||
Subsidiary or Equity Method Investee [Line Items] | ||||
Total assets | ¥ 43,999,815 | ¥ 40,969,439 | ||
Total liabilities | 41,268,551 | 38,288,646 | ||
Net revenues | 1,952,482 | 1,835,118 | ¥ 1,972,158 | |
Non-interest expenses | 1,039,568 | 1,154,471 | 1,168,811 | |
Net income attributable to the companies | 216,998 | (100,442) | 219,343 | |
Significant affiliated companies [Member] | ||||
Subsidiary or Equity Method Investee [Line Items] | ||||
Total assets | 2,559,985 | 2,535,825 | ||
Total liabilities | 1,669,132 | 1,538,231 | ||
Net revenues | 1,017,860 | 963,824 | 949,055 | [1] |
Non-interest expenses | 791,403 | 794,264 | 768,419 | [1] |
Net income attributable to the companies | ¥ 155,567 | ¥ 122,440 | ¥ 122,623 | [1] |
[1] | For JAFCO, financial information while it was an affiliated company of Nomura is included. |
Affiliated companies and othe_5
Affiliated companies and other equity-method investees - Summary of balances and transactions with affiliated companies and other equity-method investees (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | ||
Subsidiary or Equity Method Investee [Line Items] | ||||
Revenues | ¥ 1,952,482 | ¥ 1,835,118 | ¥ 1,972,158 | |
Non-interest expenses | 1,039,568 | 1,154,471 | 1,168,811 | |
Affiliated companies and other equity-method investees [Member] | ||||
Subsidiary or Equity Method Investee [Line Items] | ||||
Investments in affiliated companies | 367,641 | 436,220 | ||
Other receivables from affiliated companies | [1] | 25,074 | 1,425 | |
Other payables to affiliated companies | [1] | 27,648 | 2,998 | |
Revenues | 3,833 | 1,986 | 1,677 | |
Non-interest expenses | 46,335 | 44,073 | 46,632 | |
Purchase of software, securities and tangible assets | ¥ 17,716 | ¥ 13,515 | ¥ 26,830 | |
[1] | As a result of adopting ASU 2016-02 as of April 1, 2019, ROU assets and operating lease liabilities are included by ¥23,733mil respectively. |
Affiliated companies and othe_6
Affiliated companies and other equity-method investees - Summary of balances and transactions with affiliated companies and other equity-method investees - Parenthetical (Details) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Apr. 01, 2019 |
Subsidiary or Equity Method Investee [Line Items] | ||
Operating lease right of use asset | ¥ 170,782 | |
Operating lease liability | ¥ 192,160 | |
Accounting Standards Update 2016-02 [Member] | ||
Subsidiary or Equity Method Investee [Line Items] | ||
Operating lease right of use asset | ¥ 23,733 | |
Operating lease liability | ¥ 23,733 |
Affiliated companies and othe_7
Affiliated companies and other equity-method investees - Summary of aggregate carrying amount and fair value of investments in affiliated companies and other equity-method investees (Detail) - Affiliated companies and other equity-method investees [Member] - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Subsidiary or Equity Method Investee [Line Items] | ||
Carrying amount | ¥ 357,751 | ¥ 423,885 |
Fair value | ¥ 511,667 | ¥ 600,132 |
Affiliated companies and othe_8
Affiliated companies and other equity-method investees - Summary of equity in earnings of equity-method investees and dividends from equity-method investees (Detail) - Equity Method Investee [Member] - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | ||
Schedule of Equity Method Investments [Line Items] | ||||
Equity in earnings of equity-method investees | [1] | ¥ 32,109 | ¥ 32,014 | ¥ 34,516 |
Dividends from equity-method investees | ¥ 11,767 | ¥ 12,971 | ¥ 13,290 | |
[1] | Equity in earnings of equity-method investees is reported within Revenue-Other in the consolidated statements of income. |
Commitments, contingencies an_3
Commitments, contingencies and guarantees - Commitments outstanding (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Commitments [Line Items] | ||
Commitments to extend credit | ¥ 2,247,433 | ¥ 2,694,368 |
Commitments to invest | 15,278 | 14,413 |
Liquidity facilities to central clearing counterparties [Member] | ||
Commitments [Line Items] | ||
Commitments to extend credit | 1,288,774 | 1,593,439 |
Other Commitments To Extend Credit [Member] | ||
Commitments [Line Items] | ||
Commitments to extend credit | ¥ 958,659 | ¥ 1,100,929 |
Commitments, contingencies an_4
Commitments, contingencies and guarantees - Maturities of commitments (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Commitments and Contingencies Disclosure [Line Items] | ||
Commitments to extend credit | ¥ 2,247,433 | ¥ 2,694,368 |
Commitments to invest | 15,278 | 14,413 |
Liquidity facilities to central clearing counterparties [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Commitments to extend credit | 1,288,774 | 1,593,439 |
Other commitments to extend credit [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Commitments to extend credit | 958,659 | ¥ 1,100,929 |
Less than 1 year [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Commitments to extend credit | 1,399,086 | |
Commitments to invest | 491 | |
Less than 1 year [Member] | Liquidity facilities to central clearing counterparties [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Commitments to extend credit | 1,288,774 | |
Less than 1 year [Member] | Other commitments to extend credit [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Commitments to extend credit | 110,312 | |
1 to 3 years [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Commitments to extend credit | 139,295 | |
Commitments to invest | 4 | |
1 to 3 years [Member] | Other commitments to extend credit [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Commitments to extend credit | 139,295 | |
3 to 5 years [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Commitments to extend credit | 167,322 | |
Commitments to invest | 5,628 | |
3 to 5 years [Member] | Other commitments to extend credit [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Commitments to extend credit | 167,322 | |
More than 5 years [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Commitments to extend credit | 541,730 | |
Commitments to invest | 9,155 | |
More than 5 years [Member] | Other commitments to extend credit [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Commitments to extend credit | ¥ 541,730 |
Commitments, contingencies an_5
Commitments, contingencies and guarantees - Additional information (Detail) € in Thousands, ¥ in Millions, $ in Millions, ¥ in Billions | Dec. 16, 2019USD ($) | Nov. 08, 2019EUR (€) | Nov. 08, 2019USD ($) | Jul. 15, 2019USD ($) | Jun. 30, 2016USD ($) | May 31, 2019EUR (€) | Jan. 31, 2018EUR (€) | Sep. 30, 2017USD ($) | Jul. 31, 2013EUR (€) | Mar. 31, 2013EUR (€) | Mar. 31, 2020JPY (¥) | Mar. 31, 2019JPY (¥) | Jun. 30, 2020CNY (¥) | Mar. 31, 2020USD ($) | Jun. 30, 2019EUR (€) | Jul. 31, 2018EUR (€) | Mar. 31, 2017USD ($) | Sep. 23, 2015EUR (€) | Mar. 31, 2014EUR (€) | Jun. 30, 2012USD ($) | Nov. 30, 2011USD ($) | Apr. 30, 2011USD ($) | Jan. 31, 2008EUR (€) |
Other mortgage-related contingencies [Abstract] | |||||||||||||||||||||||
Loan repurchase claims received against the relevant subsidiaries | $ 3,203 | ||||||||||||||||||||||
Subsequent event [Member] | |||||||||||||||||||||||
Contingencies | |||||||||||||||||||||||
Current estimate of maximum reasonably possible loss | ¥ | ¥ 53 | ||||||||||||||||||||||
Tax notice issued by tax authorities in Pescara, Italy [Member] | |||||||||||||||||||||||
Contingencies | |||||||||||||||||||||||
Reimbursement of refund | € | € 33,800 | ||||||||||||||||||||||
Tax credit refunds | € | € 38,000 | ||||||||||||||||||||||
Two actions by Fairfield Sentry Ltd. and Fairfield Sigma Ltd. [Member] | |||||||||||||||||||||||
Contingencies | |||||||||||||||||||||||
Recovery of payment | $ 35 | ||||||||||||||||||||||
Action by the Federal Home Loan Bank of Boston [Member] | |||||||||||||||||||||||
Contingencies | |||||||||||||||||||||||
Amount of certifications purchased | $ 406 | ||||||||||||||||||||||
Litigation settlement amount | $ 34 | ||||||||||||||||||||||
Claim filed by the Madoff Trustee [Member] | |||||||||||||||||||||||
Contingencies | |||||||||||||||||||||||
Recovery of payment | $ 21 | ||||||||||||||||||||||
Action by Banca Monte dei Paschi di Siena SpA [Member] | |||||||||||||||||||||||
Contingencies | |||||||||||||||||||||||
Amount of damages sought | € | € 1,100,000 | ||||||||||||||||||||||
Recovery of payment | € | € 1,500,000 | ||||||||||||||||||||||
Amount of discount based on the settlement agreement | € | € 440,000 | ||||||||||||||||||||||
Action by Fondazione Monte dei Paschi di Siena [Member] | |||||||||||||||||||||||
Contingencies | |||||||||||||||||||||||
Amount of damages sought | € | € 315,200 | ||||||||||||||||||||||
Action by Alken Fund Sicav and Alken Luxembourg S.A [Member] | |||||||||||||||||||||||
Contingencies | |||||||||||||||||||||||
Amount of damages sought | € | € 434,000 | ||||||||||||||||||||||
Action by York Global Finance Offshore BDH (Luxembourg) Sarl and a number of seemingly related funds [Member] | |||||||||||||||||||||||
Contingencies | |||||||||||||||||||||||
Amount of damages sought | € | € 186,700 | ||||||||||||||||||||||
Action by Syndicate Banks [Member] | |||||||||||||||||||||||
Contingencies | |||||||||||||||||||||||
Syndicate term loan | $ 60 | ||||||||||||||||||||||
Amount of damages sought | $ 48 | ||||||||||||||||||||||
Action by certain subsidiaries of American International Group, Inc. [Member] | |||||||||||||||||||||||
Contingencies | |||||||||||||||||||||||
Certain project finance notes | $ 750 | ||||||||||||||||||||||
Certain project finance notes which were purchased by AIG | $ 92 | ||||||||||||||||||||||
Action by FT Syndicate Banks [Member] | |||||||||||||||||||||||
Contingencies | |||||||||||||||||||||||
Syndicate term loan | $ 100 | ||||||||||||||||||||||
Amount of damages sought | $ 68 | ||||||||||||||||||||||
Action by a former Italian counterparty [Member] | |||||||||||||||||||||||
Contingencies | |||||||||||||||||||||||
Reimbursement of refund | € | € 165,000 | ||||||||||||||||||||||
NIP Guilty [Member] | |||||||||||||||||||||||
Contingencies | |||||||||||||||||||||||
Amount of damages sought | € 3,450 | $ 1.5 | |||||||||||||||||||||
Litigation settlement amount | $ 88 | $ 25 | |||||||||||||||||||||
Other commitments [Member] | |||||||||||||||||||||||
Commitments and Contingencies Disclosure [Line Items] | |||||||||||||||||||||||
Purchase obligations for goods or services | ¥ | ¥ 126,949 | ||||||||||||||||||||||
Resale agreements | ¥ | 1,969,000 | ¥ 1,071,000 | |||||||||||||||||||||
Repurchase agreements | ¥ | 677,000 | 719,000 | |||||||||||||||||||||
Obligations to return debt and equity securities borrowed without collateral | ¥ | 928,000 | 441,000 | |||||||||||||||||||||
Other commitments [Member] | Maintenance Agreements [Member] | |||||||||||||||||||||||
Commitments and Contingencies Disclosure [Line Items] | |||||||||||||||||||||||
Purchase obligations for goods or services | ¥ | ¥ 126,949 | ¥ 69,003 |
Commitments, contingencies an_6
Commitments, contingencies and guarantees - Maturities of purchase obligations (Detail) - Other commitments [Member] ¥ in Millions | Mar. 31, 2020JPY (¥) |
Purchase obligations [Line Items] | |
Purchase obligations, Total | ¥ 126,949 |
Less than 1 year | 20,523 |
1 to 2 years | 24,206 |
2 to 3 years | 11,514 |
3 to 4 years | 8,280 |
4 to 5 years | 112 |
More than 5 years | ¥ 62,314 |
Commitments, contingencies an_7
Commitments, contingencies and guarantees - Information on derivative contracts and standby letters of credit and other guarantees (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | |
Derivative contracts [Member] | |||
Guarantees [Line Items] | |||
Carrying value | [1],[2] | ¥ 7,197,647 | ¥ 4,315,743 |
Maximum potential payout /Notional total | [1],[2] | 279,734,884 | 281,605,308 |
Standby letters of credit and other guarantees [Member] | |||
Guarantees [Line Items] | |||
Carrying value | [3] | 80 | |
Maximum potential payout /Notional total | [3] | ¥ 2,351 | ¥ 5,764 |
[1] | Credit derivatives are disclosed in Note 3 “Derivative instruments and hedging activities” and are excluded from derivative contracts. | ||
[2] | Derivative contracts primarily consist of equity, interest rate and foreign exchange contracts. | ||
[3] | The amounts of collaterals held in connection with standby letters of credit and other guarantees as of March 31, 2019 and March 31, 2020 was ¥2,481 million and ¥nil, respectively. |
Commitments, contingencies an_8
Commitments, contingencies and guarantees - Information on derivative contracts and standby letters of credit and other guarantees (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 |
Commitments, Contingencies and Guarantees [Abstract] | ||
Collateral held in connection with standby letters of credit and other guarantees | ¥ 2,481 |
Commitments, contingencies an_9
Commitments, contingencies and guarantees - Maturity information on derivative contracts and standby letters of credit and other guarantees (Detail) - JPY (¥) ¥ in Millions | Mar. 31, 2020 | Mar. 31, 2019 | |
Derivative contracts [Member] | |||
Guarantees [Line Items] | |||
Carrying value | [1],[2] | ¥ 7,197,647 | ¥ 4,315,743 |
Maximum potential payout /Notional | [1],[2] | 279,734,884 | 281,605,308 |
Derivative contracts [Member] | Less than 1 year [Member] | |||
Guarantees [Line Items] | |||
Maximum potential payout /Notional | 71,355,150 | ||
Derivative contracts [Member] | 1 to 3 years [Member] | |||
Guarantees [Line Items] | |||
Maximum potential payout /Notional | 77,870,884 | ||
Derivative contracts [Member] | 3 to 5 years [Member] | |||
Guarantees [Line Items] | |||
Maximum potential payout /Notional | 35,538,204 | ||
Derivative contracts [Member] | More than 5 years [Member] | |||
Guarantees [Line Items] | |||
Maximum potential payout /Notional | 94,970,646 | ||
Standby letters of credit and other guarantees [Member] | |||
Guarantees [Line Items] | |||
Carrying value | [3] | 80 | |
Maximum potential payout /Notional | [3] | 2,351 | ¥ 5,764 |
Standby letters of credit and other guarantees [Member] | Less than 1 year [Member] | |||
Guarantees [Line Items] | |||
Maximum potential payout /Notional | 10 | ||
Standby letters of credit and other guarantees [Member] | 1 to 3 years [Member] | |||
Guarantees [Line Items] | |||
Maximum potential payout /Notional | 1,184 | ||
Standby letters of credit and other guarantees [Member] | 3 to 5 years [Member] | |||
Guarantees [Line Items] | |||
Maximum potential payout /Notional | 1,156 | ||
Standby letters of credit and other guarantees [Member] | More than 5 years [Member] | |||
Guarantees [Line Items] | |||
Maximum potential payout /Notional | ¥ 1 | ||
[1] | Credit derivatives are disclosed in Note 3 “Derivative instruments and hedging activities” and are excluded from derivative contracts. | ||
[2] | Derivative contracts primarily consist of equity, interest rate and foreign exchange contracts. | ||
[3] | The amounts of collaterals held in connection with standby letters of credit and other guarantees as of March 31, 2019 and March 31, 2020 was ¥2,481 million and ¥nil, respectively. |
Segment and geographic inform_3
Segment and geographic information - Business segments' results (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | |
Segment Reporting Information [Line Items] | |||
Non-interest revenue | ¥ 1,179,337 | ¥ 1,065,358 | ¥ 1,384,585 |
Net interest revenue | 129,819 | 58,616 | 110,486 |
Net revenue | 1,309,156 | 1,123,974 | 1,495,071 |
Non-interest expenses | 1,039,568 | 1,154,471 | 1,168,811 |
Income (loss) before income taxes | 269,588 | (30,497) | 326,260 |
Retail [Member] | |||
Segment Reporting Information [Line Items] | |||
Non-interest revenue | 329,983 | 331,743 | 406,295 |
Net interest revenue | 6,376 | 7,737 | 6,613 |
Net revenue | 336,359 | 339,480 | 412,908 |
Non-interest expenses | 286,926 | 289,990 | 309,771 |
Income (loss) before income taxes | 49,433 | 49,490 | 103,137 |
Asset Management [Member] | |||
Segment Reporting Information [Line Items] | |||
Non-interest revenue | 85,190 | 89,607 | 118,545 |
Net interest revenue | 7,415 | 8,238 | 8,792 |
Net revenue | 92,605 | 97,845 | 127,337 |
Non-interest expenses | 63,833 | 63,660 | 61,167 |
Income (loss) before income taxes | 28,772 | 34,185 | 66,170 |
Wholesale [Member] | |||
Segment Reporting Information [Line Items] | |||
Non-interest revenue | 506,203 | 496,484 | 587,474 |
Net interest revenue | 142,416 | 58,904 | 127,859 |
Net revenue | 648,619 | 555,388 | 715,333 |
Non-interest expenses | 556,399 | 666,787 | 614,745 |
Income (loss) before income taxes | 92,220 | (111,399) | 100,588 |
Other (Incl. elimination) [Member] | |||
Segment Reporting Information [Line Items] | |||
Non-interest revenue | 257,961 | 147,524 | 272,271 |
Net interest revenue | (26,388) | (16,263) | (32,778) |
Net revenue | 231,573 | 131,261 | 239,493 |
Non-interest expenses | 132,410 | 134,034 | 183,128 |
Income (loss) before income taxes | ¥ 99,163 | ¥ (2,773) | ¥ 56,365 |
Segment and geographic inform_4
Segment and geographic information - Major components of Income (loss) before income taxes in "Other" (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | ||
Segment Reporting Information [Line Items] | ||||
Total | ¥ 269,588 | ¥ (30,497) | ¥ 326,260 | |
Other (Incl. elimination) [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Net gain (loss) related to economic hedging transactions | 17,548 | 1,800 | (6,461) | |
Realized gain on investments in equity securities held for operating purposes | 6,601 | 221 | 785 | |
Equity in earnings of affiliates | 34,990 | 32,532 | 34,248 | |
Corporate items | (22,240) | (35,996) | (41,884) | |
Other | [1],[2] | 62,264 | (1,330) | 69,677 |
Total | ¥ 99,163 | ¥ (2,773) | ¥ 56,365 | |
[1] | Amounts reported for the year ended March 31, 2018 include the gain recognized in earnings in connection with the liquidation of a non-Japanese subsidiary during the year. | |||
[2] | Includes gain of ¥73,293 million from the partial sale of Nomura’s investment in ordinary shares of Nomura Research Institute, Ltd. for the year ended March 31, 2020. |
Segment and Geographical Inform
Segment and Geographical Information - Major components of Income (loss) before income taxes in "Other" (Parenthetical) (Detail) ¥ in Millions | 12 Months Ended |
Mar. 31, 2020JPY (¥) | |
Nomura Research Institute, Ltd [Member] | |
Gain on the sale of a part of the ordinary shares | ¥ 73,293 |
Segment and geographic inform_5
Segment and geographic information - Reconciliation of combined business segments' results included in preceding table to reported Net revenue, Non-interest expenses and Income (loss) before income taxes (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | ||
Segment and Geographic Information [Abstract] | ||||
Net revenue | ¥ 1,309,156 | ¥ 1,123,974 | ¥ 1,495,071 | |
Unrealized gain (loss) on investments in equity securities held for operating purposes | (21,327) | (7,204) | 1,898 | |
Consolidated net revenue | [1] | 1,287,829 | 1,116,770 | 1,496,969 |
Non-interest expenses | 1,039,568 | 1,154,471 | 1,168,811 | |
Unrealized gain (loss) on investments in equity securities held for operating purposes | ||||
Consolidated non-interest expenses | 1,039,568 | 1,154,471 | 1,168,811 | |
Income (loss) before income taxes | 269,588 | (30,497) | 326,260 | |
Unrealized gain (loss) on investments in equity securities held for operating purposes | (21,327) | (7,204) | 1,898 | |
Consolidated income (loss) before income taxes | ¥ 248,261 | ¥ (37,701) | ¥ 328,158 | |
[1] | There is no revenue derived from transactions with a single major external customer. |
Segment and geographic inform_6
Segment and geographic information - Geographic allocation of Net revenue and Income (loss) before income taxes from operations by geographic areas, and Long-lived assets (Detail) - JPY (¥) ¥ in Millions | 12 Months Ended | |||||
Mar. 31, 2020 | Mar. 31, 2019 | Mar. 31, 2018 | ||||
Net revenue, income (loss) before income taxes and long-lived assets | ||||||
Consolidated, Net revenue | [1] | ¥ 1,287,829 | ¥ 1,116,770 | ¥ 1,496,969 | ||
Consolidated, Income (loss) before income taxes | 248,261 | (37,701) | 328,158 | |||
Consolidated, Long-lived assets | 458,913 | 369,658 | 423,949 | |||
Americas [Member] | ||||||
Net revenue, income (loss) before income taxes and long-lived assets | ||||||
Consolidated, Net revenue | 229,265 | 169,581 | [1] | 268,653 | [1] | |
Consolidated, Income (loss) before income taxes | 7,354 | (114,081) | (8,771) | |||
Consolidated, Long-lived assets | 84,904 | 50,829 | 117,323 | |||
Europe [Member] | ||||||
Net revenue, income (loss) before income taxes and long-lived assets | ||||||
Consolidated, Net revenue | [1] | 115,483 | 131,175 | 168,186 | ||
Consolidated, Income (loss) before income taxes | (14,067) | (56,851) | (14,654) | |||
Consolidated, Long-lived assets | 52,179 | 56,821 | 67,010 | |||
Asia and Oceania [Member] | ||||||
Net revenue, income (loss) before income taxes and long-lived assets | ||||||
Consolidated, Net revenue | [1] | 42,571 | 47,977 | 68,011 | ||
Consolidated, Income (loss) before income taxes | 19,817 | 5,014 | 22,751 | |||
Consolidated, Long-lived assets | 29,618 | 9,588 | 8,613 | |||
Subtotal [Member] | ||||||
Net revenue, income (loss) before income taxes and long-lived assets | ||||||
Consolidated, Net revenue | [1] | 387,319 | 348,733 | 504,850 | ||
Consolidated, Income (loss) before income taxes | 13,104 | (165,918) | (674) | |||
Consolidated, Long-lived assets | 166,701 | 117,238 | 192,946 | |||
Japan [Member] | ||||||
Net revenue, income (loss) before income taxes and long-lived assets | ||||||
Consolidated, Net revenue | [1] | 900,510 | 768,037 | 992,119 | ||
Consolidated, Income (loss) before income taxes | 235,157 | 128,217 | 328,832 | |||
Consolidated, Long-lived assets | ¥ 292,212 | ¥ 252,420 | ¥ 231,003 | |||
[1] | There is no revenue derived from transactions with a single major external customer. |
Significant subsequent events (
Significant subsequent events (Detail) ¥ in Billions | 3 Months Ended |
Jun. 30, 2020JPY (¥) | |
Subsequent event [Member] | Nihonbashi District Redevelopment [Member] | |
Subsequent Event [Line Items] | |
Gain (Loss) on disposition of assets | ¥ 70 |