Cover Page
Cover Page | 6 Months Ended |
Sep. 30, 2020 | |
Document Information [Line Items] | |
Document Type | 6-K |
Amendment Flag | false |
Entity Central Index Key | 0001163653 |
Document Period End Date | Sep. 30, 2020 |
Entity Registrant Name | NOMURA HOLDINGS, INC. |
Current Fiscal Year End Date | --03-31 |
CONSOLIDATED BALANCE SHEETS (UN
CONSOLIDATED BALANCE SHEETS (UNAUDITED) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 |
Cash and cash deposits: | ||
Cash and cash equivalents | ¥ 3,941,802 | ¥ 3,191,889 |
Time deposits | 191,277 | 309,373 |
Deposits with stock exchanges and other segregated cash | 391,594 | 373,686 |
Total cash and cash deposits | 4,524,673 | 3,874,948 |
Loans and receivables: | ||
Loans receivable (including ¥805,141 million and ¥804,315 million measured at fair value by applying the fair value option as of March 31, 2020 and September 30, 2020, respectively) | 2,344,080 | 2,857,405 |
Receivables from customers (including ¥11 million and ¥92,193 million measured at fair value by applying the fair value option as of March 31, 2020 and September 30, 2020, respectively) | 514,711 | 541,284 |
Receivables from other than customers | 877,751 | 1,731,236 |
Allowance for doubtful accounts | (11,356) | (13,012) |
Total loans and receivables | 3,725,186 | 5,116,913 |
Collateralized agreements: | ||
Securities purchased under agreements to resell (including ¥548,043 million and ¥320,679 million measured at fair value by applying the fair value option as of March 31, 2020 and September 30, 2020, respectively) | 12,063,662 | 12,377,315 |
Securities borrowed | 3,502,286 | 3,529,797 |
Total collateralized agreements | 15,565,948 | 15,907,112 |
Trading assets and private equity and debt investments: | ||
Trading assets (including securities pledged as collateral of ¥5,332,640 million and ¥6,383,048 million as of March 31, 2020 and September 30, 2020, respectively; including ¥12,407 million and ¥8,531 million measured at fair value by applying the fair value option as of March 31, 2020 and September 30, 2020, respectively) | 16,515,538 | 16,853,822 |
Private equity and debt investments (including ¥6,395 million and ¥7,514 million measured at fair value by applying the fair value option as of March 31, 2020 and September 30, 2020, respectively) | 55,432 | 44,278 |
Total trading assets and private equity and debt investments | 16,570,970 | 16,898,100 |
Other assets: | ||
Office buildings, land, equipment and facilities (net of accumulated depreciation and amortization of ¥397,114 million and ¥384,060 million as of March 31, 2020 and September 30, 2020, respectively) | 466,373 | 440,512 |
Non-trading debt securities | 411,980 | 455,392 |
Investments in equity securities | 112,880 | 112,175 |
Investments in and advances to affiliated companies | 391,286 | 367,641 |
Other (including ¥144,756 million and ¥137,413 million measured at fair value by applying the fair value option as of March 31, 2020 and September 30, 2020, respectively) | 915,141 | 827,022 |
Total other assets | 2,297,660 | 2,202,742 |
Total assets | 42,684,437 | 43,999,815 |
LIABILITIES AND EQUITY | ||
Short-term borrowings (including ¥376,910 million and ¥587,622 million measured at fair value by applying the fair value option as of March 31, 2020 and September 30, 2020, respectively) | 1,346,414 | 1,486,733 |
Payables and deposits: | ||
Payables to customers | 1,286,985 | 1,467,434 |
Payables to other than customers | 1,281,977 | 1,653,495 |
Deposits received at banks (including ¥14,392 million and ¥31,229 million measured at fair value by applying the fair value option as of March 31, 2020 and September 30, 2020, respectively) | 1,181,169 | 1,276,153 |
Total payables and deposits | 3,750,131 | 4,397,082 |
Collateralized financing: | ||
Securities sold under agreements to repurchase (including ¥111,609 million and ¥104,645 million measured at fair value by applying the fair value option as of March 31, 2020 and September 30, 2020, respectively) | 15,427,476 | 16,349,182 |
Securities loaned (including ¥105,968 million and ¥114,621 million measured at fair value by applying the fair value option as of March 31, 2020 and September 30, 2020, respectively) | 1,119,095 | 961,446 |
Other secured borrowings | 348,484 | 717,711 |
Total collateralized financing | 16,895,055 | 18,028,339 |
Trading liabilities | 8,789,496 | 8,546,284 |
Other liabilities (including ¥9,183 million and ¥24,864 million measured at fair value by applying the fair value option as of March 31, 2020 and September 30, 2020, respectively) | 1,049,465 | 1,034,448 |
Long-term borrowings (including ¥3,707,643 million and ¥4,030,791 million measured at fair value by applying the fair value option as of March 31, 2020 and September 30, 2020, respectively) | 8,067,822 | 7,775,665 |
Total liabilities | 39,898,383 | 41,268,551 |
Commitments and contingencies (Note 16) | ||
Common stock | ||
No par value shares; Authorized—6,000,000,000 shares as of March 31, 2020 and September 30, 2020 Issued—3,493,562,601 shares as of March 31, 2020 and September 30, 2020 Outstanding—3,038,587,493 shares as of March 31, 2020 and 3,057,804,161 shares as of September 30, 2020 | 594,493 | 594,493 |
Additional paid-in capital | 683,233 | 683,232 |
Retained earnings | 1,775,691 | 1,645,451 |
Accumulated other comprehensive income | (88,706) | (26,105) |
Total NHI shareholders' equity before treasury stock | 2,964,711 | 2,897,071 |
Common stock held in treasury, at cost—454,975,108 shares as of March 31, 2020 and 435,758,440 shares as of September 30, 2020 | (233,315) | (243,604) |
Total NHI shareholders' equity | 2,731,396 | 2,653,467 |
Noncontrolling interests | 54,658 | 77,797 |
Total equity | 2,786,054 | 2,731,264 |
Total liabilities and equity | 42,684,437 | 43,999,815 |
Variable Interest Entity, primary beneficiary [Member] | ||
Cash and cash deposits: | ||
Cash and cash equivalents | 8,000 | 10,000 |
Total cash and cash deposits | 8,000 | 10,000 |
Trading assets and private equity and debt investments: | ||
Total trading assets and private equity and debt investments | 1,135,000 | 1,172,000 |
Other assets: | ||
Office buildings, land, equipment and facilities (net of accumulated depreciation and amortization of ¥397,114 million and ¥384,060 million as of March 31, 2020 and September 30, 2020, respectively) | 36,000 | 15,000 |
Other (including ¥144,756 million and ¥137,413 million measured at fair value by applying the fair value option as of March 31, 2020 and September 30, 2020, respectively) | 20,000 | 24,000 |
Total other assets | 56,000 | 39,000 |
Total assets | 1,199,000 | 1,221,000 |
LIABILITIES AND EQUITY | ||
Short-term borrowings (including ¥376,910 million and ¥587,622 million measured at fair value by applying the fair value option as of March 31, 2020 and September 30, 2020, respectively) | 113,000 | 117,000 |
Collateralized financing: | ||
Trading liabilities | 17,000 | 19,000 |
Other liabilities (including ¥9,183 million and ¥24,864 million measured at fair value by applying the fair value option as of March 31, 2020 and September 30, 2020, respectively) | 2,000 | 4,000 |
Long-term borrowings (including ¥3,707,643 million and ¥4,030,791 million measured at fair value by applying the fair value option as of March 31, 2020 and September 30, 2020, respectively) | 811,000 | 830,000 |
Borrowings | 924,000 | 947,000 |
Total liabilities | ¥ 943,000 | ¥ 970,000 |
CONSOLIDATED BALANCE SHEETS (_2
CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 |
Loans receivable, fair value | ¥ 804,315 | ¥ 805,141 |
Receivables from customers, fair value | 92,193 | 11 |
Securities purchased under agreements to resell, fair value | 320,679 | 548,043 |
Trading assets, securities pledged as collateral | 6,383,048 | 5,332,640 |
Trading assets, fair value | 8,531 | 12,407 |
Private equity investments, fair value | 7,514 | 6,395 |
Office buildings, land, equipment and facilities, net of accumulated depreciation and amortization | 384,060 | 397,114 |
Other, fair value | 137,413 | 144,756 |
Short-term borrowings, fair value | 587,622 | 376,910 |
Deposits received at banks, fair value | 31,229 | 14,392 |
Securities sold under agreements to repurchase, fair value | 104,645 | 111,609 |
Securities loaned, fair value | 114,621 | 105,968 |
Other liabilities, fair value | 24,864 | 9,183 |
Long-term borrowings, fair value | ¥ 4,030,791 | ¥ 3,707,643 |
Common stock | ||
Authorized | 6,000,000,000 | 6,000,000,000 |
Issued | 3,493,562,601 | 3,493,562,601 |
Outstanding | 3,057,804,161 | 3,038,587,493 |
Common stock held in treasury, shares | 435,758,440 | 454,975,108 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - JPY (¥) ¥ in Millions | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Revenue: | ||||
Commissions | ¥ 92,253 | ¥ 65,254 | ¥ 177,765 | ¥ 133,454 |
Fees from investment banking | 27,031 | 22,265 | 37,859 | 49,576 |
Asset management and portfolio service fees | 57,417 | 59,926 | 111,073 | 119,889 |
Net gain on trading | 131,463 | 105,609 | 270,552 | 218,434 |
Gain on private equity and debt investments | 1,805 | 981 | 2,875 | 1,772 |
Interest and dividends | 82,494 | 215,881 | 189,037 | 415,354 |
Gain (loss) on investments in equity securities | 1,940 | 2,083 | 5,413 | (755) |
Other | 24,939 | 101,905 | 138,817 | 147,559 |
Total revenue | 419,342 | 573,904 | 933,391 | 1,085,283 |
Interest expense | 50,344 | 190,524 | 103,646 | 369,902 |
Net revenue | 368,998 | 383,380 | 829,745 | 715,381 |
Non-interest expenses: | ||||
Compensation and benefits | 137,006 | 120,425 | 275,303 | 245,527 |
Commissions and floor brokerage | 27,675 | 25,446 | 56,186 | 49,997 |
Information processing and communications | 42,584 | 42,361 | 85,822 | 84,118 |
Occupancy and related depreciation | 19,056 | 18,360 | 36,114 | 37,480 |
Business development expenses | 3,632 | 7,906 | 6,464 | 15,734 |
Other | 55,418 | 40,396 | 104,418 | 79,233 |
Total non-interest expenses | 285,371 | 254,894 | 564,307 | 512,089 |
Income before income taxes | 83,627 | 128,486 | 265,438 | 203,292 |
Income tax expense | 14,704 | (11,875) | 52,217 | 6,042 |
Net income | 68,923 | 140,361 | 213,221 | 197,250 |
Less: Net income attributable to noncontrolling interests | 1,281 | 1,787 | 3,063 | 2,843 |
Net income attributable to NHI shareholders | ¥ 67,642 | ¥ 138,574 | ¥ 210,158 | ¥ 194,407 |
Basic- | ||||
Net income attributable to NHI shareholders per share | ¥ 22.13 | ¥ 42.11 | ¥ 68.87 | ¥ 58.89 |
Diluted- | ||||
Net income attributable to NHI shareholders per share | ¥ 21.52 | ¥ 41.23 | ¥ 67.10 | ¥ 57.66 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - JPY (¥) ¥ in Millions | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract] | ||||
Net income | ¥ 68,923 | ¥ 140,361 | ¥ 213,221 | ¥ 197,250 |
Cumulative translation adjustments: | ||||
Cumulative translation adjustments | (19,742) | (6,474) | (19,837) | (39,320) |
Deferred income taxes | (46) | (66) | (60) | 245 |
Total | (19,788) | (6,540) | (19,897) | (39,075) |
Defined benefit pension plans: | ||||
Pension liability adjustment | 1,210 | 2,356 | 4,017 | 3,005 |
Deferred income taxes | (128) | (686) | (627) | 912 |
Total | 1,082 | 1,670 | 3,390 | 3,917 |
Own credit adjustments: | ||||
Own credit adjustments | (53,954) | (1,430) | (53,351) | (3,156) |
Deferred income taxes | 9,662 | (269) | 7,567 | (519) |
Total | (44,292) | (1,699) | (45,784) | (3,675) |
Total other comprehensive income (loss) | (62,998) | (6,569) | (62,291) | (38,833) |
Comprehensive income | 5,925 | 133,792 | 150,930 | 158,417 |
Less: Comprehensive income attributable to noncontrolling interests | 1,016 | 2,206 | 3,373 | 2,403 |
Comprehensive income attributable to NHI shareholders | ¥ 4,909 | ¥ 131,586 | ¥ 147,557 | ¥ 156,014 |
CONSOLIDATED STATEMENTS OF CHAN
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) - 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, 2019 | ¥ 594,493 | ¥ 687,761 | ¥ 1,486,825 | ¥ 17,833 | ¥ (71,107) | ¥ 24,224 | ¥ (108,968) | ¥ 49,732 | |||||
Cumulative effect of change in accounting principle | [1] | 5,592 | |||||||||||
Net income attributable to NHI shareholders | ¥ 194,407 | 194,407 | |||||||||||
Cash dividends | (48,477) | [2] | (1,274) | ||||||||||
Gain (loss) on sales of treasury stock | 12 | 0 | |||||||||||
Stock-based compensation awards | (4,922) | ||||||||||||
Net change during the period | (38,635) | ||||||||||||
Pension liability adjustment | 3,917 | 3,917 | |||||||||||
Own credit adjustments | (3,675) | (3,675) | |||||||||||
Repurchases of common stock | (41,328) | ||||||||||||
Sales of common stock | 0 | ||||||||||||
Common stock issued to employees | 9,926 | ||||||||||||
Net income attributable to noncontrolling interests | (2,843) | 2,843 | |||||||||||
Accumulated other comprehensive income (loss) attributable to noncontrolling interests | (440) | ||||||||||||
Purchase / sale of subsidiary shares, net | 16,089 | ||||||||||||
Other net change in noncontrolling interests | 13,347 | ||||||||||||
Balance at end of period at Sep. 30, 2019 | 2,788,175 | 594,493 | 682,851 | 1,638,347 | (20,802) | (67,190) | 20,549 | ¥ (67,443) | (140,370) | ¥ 2,707,878 | 80,297 | ||
Balance at beginning of year at Jun. 30, 2019 | 594,493 | 681,065 | 1,548,250 | (13,843) | (68,860) | 22,248 | (100,627) | 64,142 | |||||
Net income attributable to NHI shareholders | 138,574 | 138,574 | |||||||||||
Cash dividends | (48,477) | [3] | (305) | ||||||||||
Gain (loss) on sales of treasury stock | (67) | ||||||||||||
Stock-based compensation awards | 1,853 | ||||||||||||
Net change during the period | (6,959) | ||||||||||||
Pension liability adjustment | 1,670 | 1,670 | |||||||||||
Own credit adjustments | (1,699) | (1,699) | |||||||||||
Repurchases of common stock | (41,327) | ||||||||||||
Sales of common stock | 0 | ||||||||||||
Common stock issued to employees | 1,584 | ||||||||||||
Net income attributable to noncontrolling interests | (1,787) | 1,787 | |||||||||||
Accumulated other comprehensive income (loss) attributable to noncontrolling interests | 419 | ||||||||||||
Purchase / sale of subsidiary shares, net | 15,422 | ||||||||||||
Other net change in noncontrolling interests | (1,168) | ||||||||||||
Balance at end of period at Sep. 30, 2019 | 2,788,175 | 594,493 | 682,851 | 1,638,347 | (20,802) | (67,190) | 20,549 | (67,443) | (140,370) | 2,707,878 | 80,297 | ||
Balance at beginning of year at Mar. 31, 2020 | 2,731,264 | 594,493 | 683,232 | 1,645,451 | (26,274) | (62,571) | 62,740 | (243,604) | 77,797 | ||||
Cumulative effect of change in accounting principle | [1] | (18,200) | |||||||||||
Net income attributable to NHI shareholders | 210,158 | 210,158 | |||||||||||
Cash dividends | (61,156) | [2] | (723) | ||||||||||
Gain (loss) on sales of treasury stock | (562) | ||||||||||||
Stock-based compensation awards | (1,117) | ||||||||||||
Changes in an affiliated company's interests in its subsidiary | 1,118 | ||||||||||||
Net change during the period | (20,207) | ||||||||||||
Pension liability adjustment | 3,390 | 3,390 | |||||||||||
Own credit adjustments | (45,784) | (45,784) | |||||||||||
Repurchases of common stock | (3) | ||||||||||||
Sales of common stock | 0 | ||||||||||||
Common stock issued to employees | 10,292 | ||||||||||||
Net income attributable to noncontrolling interests | (3,063) | 3,063 | |||||||||||
Accumulated other comprehensive income (loss) attributable to noncontrolling interests | 310 | ||||||||||||
Purchase / sale of subsidiary shares, net | 160 | ||||||||||||
Other net change in noncontrolling interests | (25,949) | ||||||||||||
Balance at end of period at Sep. 30, 2020 | 2,786,054 | 594,493 | 683,233 | 1,775,691 | (46,481) | (59,181) | 16,956 | (88,706) | (233,315) | 2,731,396 | 54,658 | ||
Balance at beginning of year at Jun. 30, 2020 | 594,493 | 676,040 | 1,769,225 | (26,958) | (60,263) | 61,248 | (234,282) | 51,140 | |||||
Net income attributable to NHI shareholders | 67,642 | 67,642 | |||||||||||
Cash dividends | (61,156) | [3] | 267 | ||||||||||
Gain (loss) on sales of treasury stock | 0 | (20) | |||||||||||
Stock-based compensation awards | 7,197 | ||||||||||||
Changes in an affiliated company's interests in its subsidiary | (4) | ||||||||||||
Net change during the period | (19,523) | ||||||||||||
Pension liability adjustment | 1,082 | 1,082 | |||||||||||
Own credit adjustments | (44,292) | (44,292) | |||||||||||
Repurchases of common stock | (2) | ||||||||||||
Sales of common stock | 0 | ||||||||||||
Common stock issued to employees | 969 | ||||||||||||
Net income attributable to noncontrolling interests | (1,281) | 1,281 | |||||||||||
Accumulated other comprehensive income (loss) attributable to noncontrolling interests | (265) | ||||||||||||
Purchase / sale of subsidiary shares, net | (370) | ||||||||||||
Other net change in noncontrolling interests | 2,605 | ||||||||||||
Balance at end of period at Sep. 30, 2020 | ¥ 2,786,054 | ¥ 594,493 | ¥ 683,233 | ¥ 1,775,691 | ¥ (46,481) | ¥ (59,181) | ¥ 16,956 | ¥ (88,706) | ¥ (233,315) | ¥ 2,731,396 | ¥ 54,658 | ||
[1] | Represents the adjustments to initially apply Accounting Standards Update (“ASU”) 2016-02, “Leases” and ASU 2016-13, “Measurement of Credit Losses on Financial Instruments” for the six months ended September 30, 2019, and 2020, respectively. | ||||||||||||
[2] | Dividends per share Six months ended September 30, 2019 ¥ 15.00 Six months ended September 30, 2020 ¥ 20.00 | ||||||||||||
[3] | Dividends per share Three months ended September 30, 2019 ¥15.00 Three months ended September 30, 2020 ¥ 20.00 |
CONSOLIDATED STATEMENTS OF CH_2
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (UNAUDITED) (Parenthetical) - ¥ / shares | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | ||||
Dividends per share | ¥ 20 | ¥ 15 | ¥ 20 | ¥ 15 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - JPY (¥) ¥ in Millions | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | ||
Cash flows from operating activities: | |||
Net income | ¥ 213,221 | ¥ 197,250 | |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
Depreciation and amortization | 30,848 | 32,227 | |
(Gain) loss on investments in equity securities | (5,413) | 755 | |
Gain on investments in subsidiaries and affiliates | (2,440) | (73,272) | |
Gain on disposal of office buildings, land, equipment and facilities | [1] | (71,818) | (5,427) |
Deferred income taxes | 13,429 | (16,854) | |
Changes in operating assets and liabilities: | |||
Time deposits | 121,608 | (6,185) | |
Deposits with stock exchanges and other segregated cash | (21,109) | 3,584 | |
Trading assets and private equity and debt investments | 133,749 | (3,474,941) | |
Trading liabilities | 347,655 | 661,651 | |
Securities purchased under agreements to resell, net of securities sold under agreements to repurchase | (458,341) | 3,221,071 | |
Securities borrowed, net of securities loaned | 160,407 | (152,421) | |
Other secured borrowings | (368,925) | (95,701) | |
Loans and receivables, net of allowance for doubtful accounts | 1,335,730 | (413,567) | |
Payables | (568,245) | 131,808 | |
Bonus accrual | (21,810) | (32,577) | |
Accrued income taxes, net | 19,934 | (20,395) | |
Other, net | [1] | (35,469) | 10,658 |
Net cash provided by (used in) operating activities | 823,011 | (32,336) | |
Cash flows from investing activities: | |||
Payments for purchases of office buildings, land, equipment and facilities | (51,805) | (89,011) | |
Proceeds from sales of office buildings, land, equipment and facilities | 17,246 | 105,999 | |
Proceeds from sales of investments in equity securities | 4,743 | 1,749 | |
Decrease (increase) in loans receivable at banks, net | (6,026) | 61,263 | |
Decrease (increase) in non-trading debt securities, net | 46,414 | (10,210) | |
Business acquisition | (11,152) | ||
Decrease in investments in affiliated companies, net | (9,651) | 160,792 | |
Other, net | 5,697 | (3,075) | |
Net cash provided by (used in) investing activities | (4,534) | 227,507 | |
Cash flows from financing activities: | |||
Increase in long-term borrowings | 1,329,842 | 1,030,587 | |
Decrease in long-term borrowings | (1,006,945) | (1,024,362) | |
Increase (decrease) in short-term borrowings, net | (257,216) | 118,633 | |
Decrease in deposits received at banks, net | (105,361) | (117,824) | |
Proceeds from sales of common stock held in treasury | 4 | 140 | |
Payments for repurchases of common stock held in treasury | (3) | (41,328) | |
Payments for cash dividends | (15,195) | (9,930) | |
Contribution from noncontrolling interests | 6,257 | 15,618 | |
Net cash used in financing activities | (48,617) | (28,466) | |
Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents | (20,229) | (29,223) | |
Net increase in cash, cash equivalents, restricted cash and restricted cash equivalents | 749,631 | 137,482 | |
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year | 3,192,310 | 2,687,132 | |
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period | 3,941,941 | 2,824,614 | |
Cash paid during the period for- | |||
Interest | 111,043 | 370,012 | |
Income tax payments, net | ¥ 18,855 | ¥ 43,291 | |
[1] | Certain reclassifications of previously reported amounts have been made to conform to the current period presentation. |
CONSOLIDATED STATEMENTS OF CA_2
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (Parenthetical) - JPY (¥) ¥ in Millions | 6 Months Ended | |
Sep. 30, 2020 | Sep. 30, 2019 | |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract] | ||
Cash and cash equivalents reported in Cash and cash equivalents | ¥ 3,941,802 | ¥ 2,824,181 |
Restricted cash and restricted cash equivalents reported in Deposits with stock exchanges and other segregated cash | 139 | 433 |
Total cash, cash equivalents, restricted cash and restricted cash equivalents | 3,941,941 | 2,824,614 |
Right- of use assets | ¥ 45,445 | ¥ 11,236 |
Summary of accounting policies
Summary of accounting policies | 6 Months Ended |
Sep. 30, 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. The accounting and financial reporting policies of Nomura conform to U. S. generally accepted accounting principles (“U. S.GAAP”) as applicable to broker dealers. A summary of the significant accounting policies applied by Nomura within these interim consolidated financial statements is provided within in the notes to the consolidated financial statements of Nomura’s annual report on Form 20-F Use of estimates— While the COVID-19 COVID-19 As a result of the share price of certain equity method investments being below their carrying value during the six months ended September 30, 2020, the Company evaluated those investments for impairment. However, considering the financial condition and performance of those investees as well as the period and extent to which the share price was below carrying value, the Company determined the impairment was not other-than-temporary and therefore no impairment losses were recognized through earnings during the period. New accounting pronouncements recently adopted— No new accounting pronouncements relevant to Nomura were adopted during the three months ended September 30, 2020. The following table presents a summary of new accounting pronouncements relevant to Nomura which have been adopted during the three months ended June 30, 2020: Pronouncement Summary of new guidance Adoption date and Effect on these consolidated ASU 2016-13, “ Measurement of Credit Losses on Financial Instruments (1) • • in-scope • Replaces existing incurred credit losses model under • Permits electing the fair value option for certain financial instruments on adoption date. • Requires enhanced qualitative and quantitative disclosures around credit risk, the methodology used to estimate and monitor expected credit losses and changes in estimates of expected credit losses. 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 Retained earnings For financial instruments elected for the FVO, ¥9,774 million decrease in Loans receivable 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 ASU 2019-12, “ Simplifying the Accounting for Income Taxes • ”Income Taxes” • non-income • Modified retrospective adoption from April 1, 2020. No material impact on adoption and no material impact expected in future reporting periods. ASU 2017- 04 “Goodwill” • • • • Prospective adoption to goodwill tests performed from April 1, 2020. No material impact expected on future goodwill impairment tests. ASU 2020-04 “ Reference rate reform • • • The expedients and exceptions provided by the ASU are permitted to be adopted any time until December 31, 2022. No material expedients have been applied during the six months ended September 30, 2020. Nomura plans to apply certain of the optional expedients to relevant contract modification and hedge accounting relationship during the reference rate transition period and does not expect a material impact in future reporting periods. (1) 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 Topic326, Financial Instruments—Credit Losses” 2019-10 “Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates” Future accounting developments— There are no new authoritative accounting pronouncements relevant to Nomura which will be adopted on or after April 1, 2021 which may have a material impact on these consolidated financial statements. |
Fair value measurements
Fair value measurements | 6 Months Ended |
Sep. 30, 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 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 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, 2020 and September 30, 2020 within the fair value hierarchy. 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 Billions of yen September 30, 2020 Level 1 Level 2 Level 3 Counterparty and Cash Collateral Netting (1) Balance as of September 30, 2020 Assets: Trading assets and private equity and debt investments (2) Equities (3) ¥ 1,800 ¥ 836 ¥ 10 ¥ — ¥ 2,646 Private equity and debt investments (4) — — 49 — 49 Japanese government securities 2,043 — — — 2,043 Japanese agency and municipal securities — 77 2 — 79 Foreign government, agency and municipal securities 3,660 2,237 13 — 5,910 Bank and corporate debt securities and loans for trading purposes — 1,134 129 — 1,263 Commercial mortgage-backed securities (“CMBS”) — 0 2 — 2 Residential mortgage-backed securities (“RMBS”) — 3,004 20 — 3,024 Issued/Guaranteed by government sponsored entity — 2,946 — — 2,946 Other — 58 20 — 78 Real estate-backed securities — 0 62 — 62 Collateralized debt obligations (“CDOs”) and other (5) — 28 11 — 39 Investment trust funds and other 319 24 0 — 343 Total trading assets and private equity and debt investments 7,822 7,340 298 — 15,460 Derivative assets (6) Equity contracts 0 1,179 54 — 1,233 Interest rate contracts 31 11,879 28 — 11,938 Credit contracts 0 322 51 — 373 Foreign exchange contracts 0 3,511 31 — 3,542 Commodity contracts 1 0 — — 1 Netting — — — (15,997 ) (15,997 ) Total derivative assets 32 16,891 164 (15,997 ) 1,090 Subtotal ¥ 7,854 ¥ 24,231 ¥ 462 ¥ (15,997 ) ¥ 16,550 Loans and receivables (7) — 809 88 — 897 Collateralized agreements (8) — 303 18 — 321 Other assets Non-trading 105 307 — — 412 Other (2)(3) 303 126 150 — 579 Total ¥ 8,262 ¥ 25,776 ¥ 718 ¥ (15,997 ) ¥ 18,759 Liabilities: Trading liabilities Equities ¥ 1,746 ¥ 175 ¥ 0 ¥ — ¥ 1,921 Japanese government securities 935 — — — 935 Japanese agency and municipal securities — 0 — — 0 Foreign government, agency and municipal securities 3,138 1,135 0 — 4,273 Bank and corporate debt securities — 198 2 — 200 Residential mortgage-backed securities (“RMBS”) — 5 — — 5 Collateralized debt obligations (“CDOs”) and other (5) — 0 3 — 3 Investment trust funds and other 129 — 0 — 129 Total trading liabilities 5,948 1,513 5 — 7,466 Derivative liabilities (6) Equity contracts 1 1,631 73 — 1,705 Interest rate contracts 13 11,442 86 — 11,541 Credit contracts 1 365 66 — 432 Foreign exchange contracts 0 3,469 31 — 3,500 Commodity contracts 8 0 — — 8 Netting — — — (15,863 ) (15,863 ) Total derivative liabilities 23 16,907 256 (15,863 ) 1,323 Subtotal ¥ 5,971 ¥ 18,420 ¥ 261 ¥ (15,863 ) ¥ 8,789 Short-term borrowings (9) — 514 74 — 588 Payables and deposits (10) — 31 1 — 32 Collateralized financing (8) — 219 — — 219 Long-term borrowings (9)(11)(12) 4 3,566 459 — 4,029 Other liabilities (13) 219 109 13 — 341 Total ¥ 6,194 ¥ 22,859 ¥ 808 ¥ (15,863 ) ¥ 13,998 (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, 2020 and September 30, 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 nil Private equity and debt investments Government, agency and municipal securities Non-G7 non-G7 Bank and corporate debt securities Commercial mortgage-backed securities (“CMBS”) Residential mortgage-backed securities (“RMBS”) Real estate-backed securities Collateralized debt obligations (“CDOs”) and other Investment trust funds and other Investment trust funds and other Derivatives—Equity contracts Derivatives—Interest rate contracts 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 Collateralized financing Non-trading 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, 2020 and September 30, 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 March 31, 2020 Financial Instrument Fair value in billions Valuation technique Significant unobservable valuation Range of valuation inputs (1) Weighted Average (2) Impact of increases in inputs (3)(4) Interrelationships between valuation (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 Liquidity discounts 7.0 – 13.5% 0.0 – 1.0% 5.0 – 30.0% 10.0% 0.6% 9.9% Lower fair value Higher fair value Lower fair value No predictable interrelationship Market multiples EV/EBITDA ratios PE Ratios Liquidity discounts 1.0 – 11.0 x 9.6 x 5.0 – 30.0% 8.9 x 9.6 x 9.8% Higher fair value Higher fair value Lower fair value No predictable interrelationship Foreign government, agency and municipal securities 8 DCF Credit spreads Recovery rates 0.0 – 1.4% 4.0 – 18.0% 0.5% 10.8% Lower fair value Higher fair value No predictable interrelationship Bank and corporate debt securities and loans for trading purposes 228 DCF Credit spreads Recovery rates 0.0 – 17.9% 0.0 – 80.7% 5.8% 43.8% Lower fair value Higher fair value No predictable interrelationship Residential mortgage backed securities (“RMBS”) 62 DCF Yields Prepayment rates Loss severities 0.0 – 30.8% 7.1 – 15.0% 0.0 – 100.0% 6.7% 8.9% 40.6% Lower fair value Lower fair value 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 Prepayment rates Default probabilities Loss severities 6.4 – 56.8% 20.0% 2.0% 0.0 – 100.0% 21.6% 20.0% 2.0% 73.0% Lower fair value Lower fair value Lower fair value 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 value in billions Valuation technique Significant unobservable valuation Range of valuation inputs (1) Weighted Average (2) Impact of increases in inputs (3)(4) Interrelationships between valuation inputs (5) Derivatives, net: Equity contracts ¥ 19 Option models Dividend yield Volatilities Correlations 0.0 – 18.7% 12.2 – 144.7% (0.85) – 0.97 — — — Higher fair value Higher fair value Higher fair value No predictable interrelationship Interest rate contracts (54 ) DCF/ Option models Interest rates Volatilities Volatilities Correlations (0.1) – 2.0% 8.8 – 13.8% 24.6 119.4 (1.00) – 0.98 — — — — Higher fair value Higher fair value Higher fair value Higher fair value No predictable interrelationship Credit contracts (1 ) DCF/ Option models Credit spreads Recovery rates Volatilities Correlations 0.1 – 28.4% 0.0 – 105.4% 50.0 – 83.0% 0.16 – 0.82 — — — — Higher fair value Higher fair value Higher fair value Higher fair value No predictable interrelationship Foreign exchange contracts 7 Option models Interest rates Volatilities Volatilities Correlations (0.1) – 0.8% 2.0 – 23.9% 19.2 50.7 (0.25) – 0.80 — — — — Higher fair value Higher fair value Higher fair value Higher fair value No predictable interrelationship Loans and receivables 96 DCF Credit spreads Recovery rates 0.0 – 20.5% 57.5 – 98.0% 4.2% 85.0% 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 Growth rates Liquidity discounts 10.1% 2.0% 10.0% 10.1% 2.0% 10.0% 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 6.3 – 20.7 x 0.3 – 1.3 x 10.0 – 40.0% 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 Correlations 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 Volatilities Correlations 8.6 – 76.4% 30.0 103.2 (1.00) – 0.98 — — — Higher fair value Higher fair value Higher fair value No predictable interrelationship September 30, 2020 Financial Instrument Fair value in billions Valuation technique Significant unobservable input Range of valuation inputs (1) Weighted Average (2) Impact of increases in inputs (3)(4) Interrelationships between valuation inputs (5) Assets: Trading assets and private equity and debt investments Equities ¥ 10 DCF Liquidity discounts 75.0% 75.0% Lower fair value Not applicable Private equity and debt investments 49 DCF WACC Growth rates Liquidity discounts 6.6 – 12.6% 0.0 – 1.0% 10.2% 0.4% 13.4% Lower fair value Higher fair value Lower fair value No predictable interrelationship Market multiples EV/EBITDA ratios PE Ratios Liquidity discounts (0.4) – 10.6 x 10.5 x 5.0 – 30.0% 5.6 x Higher fair value Higher fair value Lower fair value No predictable interrelationship Foreign government, agency and municipal securities 13 DCF Credit spreads Recovery rates 0.0 – 1.7% 5.8 – 30.0% 0.5% 10.2% Lower fair value Higher fair value No predictable interrelationship Bank and corporate debt securities and loans for trading purposes 129 DCF Credit spreads Recovery rates 0.0 – 15.0% 0.0 – 97.0% 5.0% 77.8% Lower fair value Higher fair value No predictable interrelationship Residential mortgage backed securities (“RMBS”) 20 DCF Yields Prepayment rates Loss severities 0.0 – 40.5% 6.1 – 15.0% 0.0 – 96.8% 5.4% 7.7% 19.6% Lower fair value Lower fair value Lower fair value No predictable interrelationship Real estate-backed securities 62 DCF Loss severities 0.0 – 15.0% 3.9% Lower fair value Not applicable Collateralized debt obligations (“CDOs”) and other 11 DCF Yields Prepayment rates Default probabilities Loss severities 9.2 – 47.9% 20.0% 2.0% 90.9 – 100.0% 20.3% 20.0% 2.0% 95.0% Lower fair value Lower fair value Lower fair value Lower fair value Change in default probabilities typically accompanied by directionally similar change in loss severities and opposite change in prepayment rates September 30, 2020 Financial Instrument Fair value in billions Valuation technique Significant unobservable input Range of valuation inputs (1) Weighted Average (2) Impact of inputs (3)(4) Interrelationships (5) Derivatives, net: Equity contracts ¥ (19 ) Option models Dividend yield 0.0 – 21.0% — — — Higher fair value Higher fair value Higher fair value No predictable interrelationship Interest rate contracts (58 ) DCF/ Option models Interest rates (0.3) – 1.2% 27.0 93.3 — — — — Higher fair value Higher fair value Higher fair value Higher fair value No predictable interrelationship Credit contracts (15 ) DCF/ Option models Credit spreads 0.0 – 25.8% — — — — Higher fair value No predictable interrelationship Foreign exchange contracts 0 Option models Interest rates (0.3) – 1.0% 17.4 28.0 — — — — Higher fair value No predictable interrelationship Loans and receivables 88 DCF Credit spreads 0.0 – 63.5% 6.5% Lower fair value No predictable interrelationship Collateralized agreements 18 DCF Repo rate 3.8 – 5.1% 4.8% Lower fair value Not applicable Other assets Other (6) 150 DCF WACC 9.3% 2.0% 10.0% 9.3% Lower fair value No predictable interrelationship Market multiples EV/EBITDA ratios 4.7 – 6.0 x 5.7 x Higher fair value Generally changes in multiples Liabilities: Trading Liabilities Collateralized debt obligations (“CDOs”) and other 3 DCF Yields 9.5 – 23.9% 2.0% 16.2% Lower fair value Change in default probabilities Short-term borrowings 74 DCF/ Option models Volatilities 14.0 – 90.1% — — Higher fair value No predictable interrelationship Long-term borrowings 459 DCF/ Option models Volatilities 8.5 – 90.1% 31.8 93.3 — — — 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 Qualitative discussion of the ranges of significant unobservable inputs The following comments present qualitative discussion about the significant unobservable valuation inputs used by Nomura for financial instruments classified in Level 3. Derivatives—Equity contracts Derivatives—Interest rate contracts Derivatives—Credit contracts Derivatives—Foreign exchange contracts Short-term borrowings and Long-term borrowings The following tables present gains and losses as well as increases and decreases of financial instruments measured at fair value on a recurring basis which Nomura classified in Level 3 for the six and three months ended September 30, 2019 and 2020. Financial instruments classified |
Derivative instruments and hedg
Derivative instruments and hedging activities | 6 Months Ended |
Sep. 30, 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 hedge contract. Changes in fair value of the hedging derivatives are reported together with those of the hedged assets and liabilities 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, 2020 and September 30, 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, 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 Billions of yen September 30, 2020 Gross fair value of derivative assets Impact of master netting agreements Impact of collateral Net exposure to credit risk Financial institutions ¥ 14,731 ¥ (12,943 ) ¥ (1,526 ) ¥ 262 Derivative activities The following tables quantify the volume of Nomura’s derivative activity through as of March 31, 2020 and September 30, 2020 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, 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 Billions of yen September 30, 2020 Derivative assets Derivative liabilities Total Notional (1) Fair value Fair value (1) Derivatives used for trading and non-trading (2)(3) Equity contracts ¥ 43,852 ¥ 1,233 ¥ 1,705 Interest rate contracts 2,725,124 11,902 11,536 Credit contracts 36,532 373 432 Foreign exchange contracts 243,294 3,542 3,499 Commodity contracts 373 1 8 Total ¥ 3,049,175 ¥ 17,051 ¥ 17,180 Derivatives designated as hedging instruments: Interest rate contracts ¥ 1,270 ¥ 36 ¥ 1 Foreign exchange contracts 121 0 1 Total ¥ 1,391 ¥ 36 ¥ 2 Total derivatives ¥ 3,050,566 ¥ 17,087 ¥ 17,182 (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, 2020 and September 30, 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” (“ASC210-20”) close-out The following table presents information about offsetting of derivatives and related collateral amounts in the consolidated balance sheets as of March 31, 2020 and September 30, 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, 2020 September 30, 2020 Derivative assets Derivative liabilities (1) Derivative assets Derivative liabilities (1) Equity contracts OTC settled bilaterally ¥ 869 ¥ 875 ¥ 770 ¥ 1,023 Exchange-traded 1,052 1,133 463 682 Interest rate contracts OTC settled bilaterally 11,881 11,438 10,434 10,060 OTC centrally-cleared 1,692 1,758 1,473 1,464 Exchange-traded 56 18 31 13 Credit contracts OTC settled bilaterally 278 311 182 241 OTC centrally-cleared 126 132 191 190 Exchange-traded 3 14 — 1 Foreign exchange contracts OTC settled bilaterally 5,224 5,105 3,542 3,500 Commodity contracts OTC settled bilaterally 1 1 0 0 Exchange-traded 8 5 1 8 Total gross derivative balances (2) ¥ 21,190 ¥ 20,790 ¥ 17,087 ¥ 17,182 Less: Amounts offset in the consolidated balance sheets (3) (19,248 ) (18,987 ) (15,997 ) (15,863 ) Total net amounts reported on the face of the consolidated balance sheets (4) ¥ 1,942 ¥ 1,803 ¥ 1,090 ¥ 1,319 Less: Additional amounts not offset in the consolidated balance sheets (5) Financial instruments and non-cash (182 ) (125 ) (140 ) (246 ) Net amount ¥ 1,760 ¥ 1,678 ¥ 950 ¥ 1,073 (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, 2020, 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 ¥1,013 billion and ¥1,046 billion, respectively. As of September 30, 2020, the gross balance of such derivative assets and derivative liabilities was ¥443 billion and ¥572 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, 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. As of September 30, 2020, Nomura offset a total of ¥1,592 billion of cash collateral receivables against net derivative liabilities and ¥1,726 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 and debt 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 Revenue—Net gain on trading The following table presents amounts included in the consolidated statements of income for the six months ended September 30, 2019 and 2020 related to derivatives used for trading and non-trading Billions of yen Six months ended September 30 2019 2020 Derivatives used for trading and non-trading (1)(2) Equity contracts ¥ 45 ¥ 90 Interest rate contracts 72 176 Credit contracts (104 ) (85 ) Foreign exchange contracts (84 ) (52 ) Commodity contracts 2 (10 ) Total ¥ (69) ¥ 119 Billions of yen Three months ended September 30 2019 2020 Derivatives used for trading and non-trading (1)(2) Equity contracts ¥ 47 ¥ (47 ) Interest rate contracts 64 40 Credit contracts (85 ) (78 ) Foreign exchange contracts (78 ) 7 Commodity contracts (1 ) (5 ) Total ¥ (53 ) ¥ (83 ) (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, 2020 and September 30, 2020. Billions of yen Line items in the statement of financial position in which the hedged item is included: Carrying amount of the hedged Cumulative gains/(losses) of fair value March 31, 2020 September 30, 2020 March 31, 2020 September 30, 2020 Long-term borrowings ¥ 1,098 ¥ 1,301 ¥ (36 ) ¥ (33 ) Total ¥ 1,098 ¥ 1,301 ¥ (36 ) ¥ (33 ) 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 six months ended September 30, 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 Six months ended September 30 2019 2020 Derivatives designated as hedging instruments: Interest rate contracts ¥ (2 ) ¥ (1 ) Total ¥ (2 ) ¥ (1 ) Hedged items: Long-term borrowings ¥ 2 ¥ 1 Total ¥ 2 ¥ 1 Billions of yen Three months ended September 30 2019 2020 Derivatives designated as hedging instruments: Interest rate contracts ¥ (4 ) ¥ 1 Total ¥ (4 ) ¥ 1 Hedged items: Long-term borrowings ¥ 4 ¥ (1 ) Total ¥ 4 ¥ (1 ) 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 Other comprehensive income (loss)—Change in cumulative translation adjustments, net of tax The following tables presents gains (losses) from derivatives designated as net investment hedges included in the consolidated statements of comprehensive income for the six and three months ended September 30, 2019 and 2020. Billions of yen Six months ended September 30 2019 2020 Hedging instruments: Foreign exchange contracts ¥ 3 ¥ (7 ) Total ¥ 3 ¥ (7 ) Billions of yen Three months ended September 30 2019 2020 Hedging instruments: Foreign exchange contracts ¥ 5 ¥ (5 ) Total ¥ 5 ¥ (5 ) (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, 2020 was ¥750 billion with related collateral pledged of ¥635 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 September 30, 2020 was ¥753 billion with related collateral pledged of ¥567 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, 2020 and September 30, 2020. Billions of yen March 31, 2020 Maximum potential payout/Notional Notional Carrying value (Asset) / (1) Total Years to maturity Purchased credit protection 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 Billions of yen September 30, 2020 Maximum potential payout/Notional Notional Years to maturity Purchased credit protection Carrying value (Asset) / (1) Total Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Single-name credit default swaps ¥ (20 ) ¥ 7,366 ¥ 1,733 ¥ 2,210 ¥ 2,601 ¥ 822 ¥ 5,488 Credit default indices (138 ) 9,077 757 3,332 4,127 861 7,182 Other credit risk related portfolio products 37 384 27 149 189 19 270 Credit-risk related options and swaptions 0 6 — — — 6 6 Total ¥ (121 ) ¥ 16,833 ¥ 2,517 ¥ 5,691 ¥ 6,917 ¥ 1,708 ¥ 12,946 (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, 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 Billions of yen September 30, 2020 Maximum potential payout/Notional AAA AA A BBB BB Other (1) Total Single-name credit default swaps ¥ 176 ¥ 1,577 ¥ 1,895 ¥ 2,551 ¥ 875 ¥ 292 ¥ 7,366 Credit default indices 36 165 2,375 4,734 1,410 357 9,077 Other credit risk related portfolio products — — 2 219 52 111 384 Credit-risk related options and swaptions — — — — 6 — 6 Total ¥ 212 ¥ 1,742 ¥ 4,272 ¥ 7,504 ¥ 2,343 ¥ 760 ¥ 16,833 (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 For the six months ended September 30, 2020, certain transactions which involve sales of securities and total return swaps were accounted for as sales. As of the date of derecognition, the carrying amount of the securities and the amount of gross cash proceeds from the sales were ¥20,854 million and ¥20,865 million, respectively. As of September 30, 2020, the fair value of the securities derecognized by Nomura and the gross liability balances of the total return swaps arising from the transaction were ¥20,312 million and ¥496 million respectively. |
Revenue from services provided
Revenue from services provided to customers | 6 Months Ended |
Sep. 30, 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 six and three months ended September 30, 2019 and September 30, 2020. Millions of yen Six months ended September 30 2019 2020 Commissions ¥ 133,454 ¥ 177,765 Fees from investment banking 49,576 37,859 Asset management and portfolio service fees 119,889 111,073 Other revenue 22,142 22,493 Total ¥ 325,061 ¥ 349,190 Millions of yen Three months ended September 30 2019 2020 Commissions ¥ 65,254 ¥ 92,253 Fees from investment banking 22,265 27,031 Asset management and portfolio service fees 59,926 57,417 Other revenue 11,401 10,689 Total ¥ 158,846 ¥ 187,390 Amounts reported in 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, assumptions and judgments Trade execution and clearing services • • • • Commissions recognized net of soft dollar credits provided to customers where Nomura is acting as agent in providing investment research and similar services to the customer. Type of service provided to customers Overview of key services provided Key revenue recognition policies, assumptions and judgments Financial advisory services • Provision of financial advice to customers in connection with a specific forecasted transaction or transactions • Provision of financial advice not in connection with a specific forecasted transaction or transactions such as general corporate intelligence and similar research • Issuance of fairness opinions • Structuring complex financial instruments for customers • Fees contingent on the success of an underlying transaction are variable consideration recognized when the underlying transaction has been completed since only at such point is it probable that a significant reversal of revenue will not occur. • Retainer and milestone fees are recognized either over the period to which they relate or are deferred until consummation of the underlying transaction depending on whether the underlying performance obligation is satisfied at a point in time or over time. • Judgment is required to make this determination with factors influencing this determination including, but not limited to, whether the fee is in connection with an engagement designed to achieve a specific transaction or outcome for the customer (such as the purchase or sale of a business), the nature and extent of deliverables provided to the customer prior to, and in addition to such specific transaction or outcome and the fee structure for the engagement. • Retainer and milestone fees recognized over time are normally recognized on a straight-line basis over the term of the contract based on time elapsed. Type of service provided to customers Overview of key services provided Key revenue recognition policies, assumptions and judgments Asset management services • • • • • • • • Underwriting and syndication services • • • • • • • 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 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 customer contract asset, customer contract receivable or customer contract liability is recognized in Nomura’s consolidated balance sheet. A customer 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 customer 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, customer contract assets and customer contract liabilities in scope of ASC 606 “ Revenue from Contracts with Customers Millions of yen March 31, 2020 September 30, 2020 Customer contract receivables ¥ 103,557 ¥ 74,331 Customer contract liabilities (1) 3,444 3,058 (1) Customer contract liabilities primarily represent rise from investment advisory services recognized in connection with the term of the contract based on time elapsed. The balance of contract liabilities as of March 31, 2019 and March 31, 2020 were recognized as revenue for the six months ended September 30, 2019 and 2020, respectively. Nomura recognized ¥480 million and ¥280 million of revenue from performance obligations satisfied in previous periods for the six months ended September 30, 2019 and the three months ended September 30, 2019, respectively. Nomura recognized ¥538 million and ¥458 million of revenue from performance obligations satisfied in previous periods for the six months ended September 30, 2020 and the three months ended September 30, 2020, respectively. Transaction price allocated to the remaining performance obligations As permitted by ASC 606, Nomura has elected not to disclose information about remaining performance obligations that have original expected durations of one year or less as of March 31, 2020 and September 30, 2020. Nomura retains no significant transactions for which individual estimated contract period exceeding 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 | 6 Months Ended |
Sep. 30, 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, 2020 and September 30, 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, 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 Billions of yen September 30, 2020 Assets Liabilities Reverse repurchase agreements Securities borrowing transactions Repurchase agreements Securities lending transactions Total gross balance (1) ¥ 28,123 ¥ 3,485 ¥ 31,487 ¥ 1,436 Less: Amounts offset in the consolidated balance sheets (2) (16,059 ) — (16,060 ) — Total net amounts of reported on the face of the consolidated balance sheets (3) ¥ 12,064 ¥ 3,485 ¥ 15,427 ¥ 1,436 Less: Additional amounts not offset in the consolidated balance sheets (4) Financial instruments and non-cash (10,797 ) (2,431 ) (12,666 ) (1,114 ) Cash collateral (1 ) — (32 ) — Net amount ¥ 1,266 ¥ 1,054 ¥ 2,729 ¥ 322 (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, 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. As of September 30, 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 ¥474 billion and ¥2,356 billion, respectively. As of September 30, 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 ¥958 billion and ¥226 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 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 and September 30, 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 Billions of yen September 30, 2020 Overnight and open (1) Up to 30 days 30 – 90 days 90 days – Greater than 1 year Total Repurchase agreements ¥ 13,324 ¥ 14,969 ¥ 1,663 ¥ 1,306 ¥ 225 ¥ 31,487 Securities lending transactions 796 196 262 182 — 1,436 Total gross recognized liabilities (2) ¥ 14,120 ¥ 15,165 ¥ 1,925 ¥ 1,488 ¥ 225 ¥ 32,923 (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 and September 30, 2020. Amounts reported are shown prior to counterparty netting in accordance with ASC 210-20. Billions of yen March 31, 2020 Repurchase Securities 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 Billions of yen September 30, 2020 Repurchase agreements Securities lending transactions Total Equities and convertible securities ¥ 1,203 ¥ 1,182 ¥ 2,385 Japanese government, agency and municipal securities 764 — 764 Foreign government, agency and municipal securities 24,317 59 24,376 Bank and corporate debt securities 1,942 142 2,084 Commercial mortgage-backed securities (“CMBS”) 21 — 21 Residential mortgage-backed securities (“RMBS”) (1) 3,073 — 3,073 Collateralized debt obligations (“CDOs”) and other 154 — 154 Investment trust funds and other 13 53 66 Total gross recognized liabilities (2) ¥ 31,487 ¥ 1,436 ¥ 32,923 (1) Includes ¥ 4,021 (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, 2020 and September 30, 2020. Billions of yen March 31, 2020 September 30, 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 ¥ 46,439 ¥ 41,964 The portion of the above that has been sold (reported within Trading liabilities 38,054 32,866 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, 2020 and September 30, 2020. Millions of yen March 31, September 30, 2020 Trading assets: Equities and convertible securities ¥ 133,066 ¥ 114,372 Government and government agency securities 1,183,457 1,230,309 Bank and corporate debt securities 59,734 18,283 Residential mortgage-backed securities (“RMBS”) 2,826,613 2,097,411 Collateralized debt obligations (“CDOs”) and other (1) 12,406 10,729 Investment trust funds and other 6,439 12,671 ¥ 4,221,715 ¥ 3,483,775 Non-trading ¥ 29 ¥ 121,598 Investments in and advances to affiliated companies ¥ 2,760 ¥ 3,871 (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, 2020 September 30, 2020 Loans and receivables ¥ 55,051 ¥ 67,212 Trading assets and private equity and debt 1,393,517 1,453,189 Office buildings, land, equipment and facilities 5,258 5,195 Non-trading 149,991 2,080 Other 77 124 ¥ 1,603,894 ¥ 1,527,800 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. |
Securitizations and Variable In
Securitizations and Variable Interest Entities | 6 Months Ended |
Sep. 30, 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 six and three months ended September 30, 2019, Nomura received cash proceeds from SPEs in new securitizations of ¥118 billion and ¥41 billion, respectively, and the associated gain on sale was not significant. For the six and three months ended September 30, 2020, Nomura received cash proceeds from SPEs in new securitizations of ¥184 billion and ¥61 billion, respectively, and the associated gain on sale was ¥11 billion and ¥8 billion, respectively. For the six and three months ended September 30, 2019, Nomura received debt securities issued by these SPEs with an initial fair value of ¥918 billion and ¥328 billion, respectively, and cash inflows from third parties on the sale of those debt securities of ¥637 billion and ¥272 billion, respectively. For the six and three months ended September 30, 2020, Nomura received debt securities issued by these SPEs with an initial fair value of ¥1,270 billion and ¥744 billion, respectively, and cash inflows from third parties on the sale of those debt securities of ¥1,208 billion and ¥723 billion, respectively. The cumulative balance of financial assets transferred to SPEs with which Nomura has continuing involvement was ¥4,177 billion and ¥4,528 billion as of March 31, 2020 and September 30, 2020, respectively. Nomura’s retained interests were ¥163 billion and ¥116 billion, as of March 31, 2020 and September 30, 2020, respectively. For the six and three months ended September 30, 2019, Nomura received cash flows of ¥10 billion and ¥6 billion, respectively, from the SPEs on the retained interests held in the SPEs. For the six and three months ended September 30, 2020, Nomura received cash flows of ¥10 billion and ¥5 billion, respectively, from the SPEs on the retained interests held in the SPEs. Nomura did not provide financial support to SPEs beyond its contractual obligations as of March 31, 2020 and September 30, 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. Billions of yen March 31, 2020 Level 1 Level 2 Level 3 Total Investment 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 Billions of yen September 30, 2020 Level 1 Level 2 Level 3 Total Investment Other Government, agency and municipal securities ¥ — ¥ 111 ¥ — ¥ 111 ¥ 111 ¥ — Bank and corporate debt securities — — — — — — CMBS and RMBS — — 5 5 0 5 Total ¥ — ¥ 111 ¥ 5 ¥ 116 ¥ 111 ¥ 5 As of September 30, 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, 2020 September 30, 2020 Assets Trading assets Loans ¥ 45 ¥ 58 Liabilities Long-term borrowings ¥ 45 ¥ 58 Variable Interest Entities 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. 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, 2020 September 30, 2020 Consolidated VIE assets Cash and cash equivalents ¥ 10 ¥ 8 Trading assets Equities 645 602 Debt securities 454 468 CMBS and RMBS 43 20 Investment trust funds and other 0 9 Derivatives 19 16 Private equity and debt investments 11 20 Office buildings, land, equipment and facilities 15 36 Other 24 20 Total ¥ 1,221 ¥ 1,199 Consolidated VIE liabilities Trading liabilities Derivatives ¥ 19 ¥ 17 Borrowings Short-term borrowings 117 113 Long-term borrowings 830 811 Other 4 2 Total ¥ 970 ¥ 943 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. 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, 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 Billions of yen September 30, 2020 Carrying amount of variable interests Maximum exposure to loss to unconsolidated VIEs Assets Liabilities Trading assets and liabilities Equities ¥ 38 ¥ — ¥ 38 Debt securities 57 — 57 CMBS and RMBS 2,973 — 2,973 Investment trust funds and other 209 — 209 Private equity and debt investments 15 — 15 Loans 415 — 415 Other 12 — 12 Commitments to extend credit and other guarantees — — 86 Total ¥ 3,719 ¥ — ¥ 3,805 |
Financing receivables
Financing receivables | 6 Months Ended |
Sep. 30, 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 at fair value or on amortized cost basis and provide a contractual right to receive money either on demand or on future fixed or determinable dates. The carrying value of financing receivables measured on an amortized cost basis is also adjusted for an allowance for current expected credit losses where appropriate. As of April 1, 2020 Nomura adopted new guidance for determination of such allowances defined by ASC 326 “ Financial Instruments—Credit Losses Summary of accounting policies: New accounting pronouncements recently adopted Collateralized agreements Collateralized agreements consist of reverse repurchase agreements reported as Securities purchased under agreements to resell Securities borrowed 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, 2020 Carried at Carried at (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 Millions of yen September 30, 2020 Carried at Carried at (1) Total Loans receivable Loans at banks ¥ 527,767 ¥ — ¥ 527,767 Short-term secured margin loans 340,175 18,255 358,430 Inter-bank money market loans 1,382 — 1,382 Corporate loans 670,441 786,060 1,456,501 Total loans receivable ¥ 1,539,765 ¥ 804,315 ¥ 2,344,080 (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 six months ended September 30, 2019. There were no significant reclassifications of loans receivable to trading assets during the same period. There were no significant purchases nor sales of loans receivable during the six months ended September 30, 2020. There were no significant reclassifications of loans receivable to trading assets during the same period. Allowance for current expected credit losses Following adoption of ASC 326 on April 1, 2020, management establishes an allowance for current expected credit losses against the following types of financial instruments, including financing receivables, to reflect the net amount Nomura expects to collect: • Loans and written unfunded loan commitments; • Deposits; • Collateralized agreements such as reverse repos and securities borrowing transactions; • Customer contract assets and receivables; and • Other receivables including margin receivables, security deposits, default fund contributions to central clearing counterparties and net investments in finance leases. Current expected credit losses for an individual or portfolio of financial instrument are measured at each Nomura reporting date based on expected credit losses over the expected life of the financial instrument and considers all available relevant, reasonable supportable information about the collectability of cash flows, including information about past events, current conditions and future forecasts. Key macroeconomic inputs to our weighted average forecasts of three years include GDP and credit spreads. The risk of loss is always considered, even when that risk of loss is remote. While management has based its estimate of the allowance for current expected credit losses on the best information available, future adjustments to the allowance may be necessary as a result of changes in the economic environment or variances between actual results and original assumptions. Nomura has elected to exclude accrued interest receivable from the amortized cost basis of financial instruments used to measure expected credit losses. The amount of accrued interest receivable as of September 30, 2020 was not significant. The methodology used by Nomura to determine allowances for current expected credit losses primarily depends on the nature of the financial instrument, whether certain practical expedients permitted by ASC 326 are applied by Nomura and whether expected credit losses arising from the financial instrument are significant. The following table summarizes the methodology used for each significant type of financial instrument subject to ASC 326, the key assumptions used which have impacted the measurement of current expected credit losses during the period. Financial instrument Methodology to determine current expected credit losses Loans, written loan commitments and certain deposits • • • • • Collateralized agreements and short-term secured margin loans • • Customer contract assets and receivables • Other receivables • Prior to adoption of ASC 326, allowances for credit losses recognized against financial instruments measured at amortized cost were based on amounts which reflected management’s best estimate of probable losses incurred. The allowance for credit losses comprised two components, namely a specific component for financial instruments which have been individually evaluated for impairment; and a general component for financial instruments 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 financial instruments which have been individually evaluated for impairment. Impairment was measured by adjusting the carrying value of the financial instrument to either the present value of expected future cash flows discounted at the financial instrument’s effective interest rate, an observable market price, or the fair value of the collateral if the financial instrument is collateral dependent. The general component of the allowance was for financial instruments 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 was based on historical loss experience adjusted for qualitative factors such as current economic conditions. The following table presents changes in the allowance for credit losses for the six and three months ended September 30, 2019 as determined using guidance effective prior to the adoption of ASC 326. Millions of yen Six months ended September 30, 2019 Allowance for credit losses against loans Loans Short-term margin loans Corporate Subtotal Allowance for receivables other than loans Total Opening balance ¥ 1,052 ¥ 370 ¥ 868 ¥ 2,290 ¥ 1,879 ¥ 4,169 Provision for credit losses 127 — 1,629 1,756 117 1,873 Charge-offs — — — — (4 ) (4 ) Other (1) — 4 (35 ) (31 ) (8 ) (39 ) Ending balance ¥ 1,179 ¥ 374 ¥ 2,462 ¥ 4,015 ¥ 1,984 ¥ 5,999 Millions of yen Three months ended September 30, 2019 Allowance for credit losses against loans Allowance for Total Loans Short-term Corporate Subtotal Opening balance ¥ 1,052 ¥ 373 ¥ 844 ¥ 2,269 ¥ 1,914 ¥ 4,183 Provision for credit losses 127 — 1,629 1,756 74 1,830 Charge-offs — — — — (3 ) (3 ) Other (1) — 1 (11 ) (10 ) (1 ) (11 ) Ending balance ¥ 1,179 ¥ 374 ¥ 2,462 ¥ 4,015 ¥ 1,984 ¥ 5,999 (1) Includes the effect of foreign exchange movements. The following table presents changes in the allowance for the six and three months ended September 30, 2020 as determined using the CECL impairment model defined by ASC 326. Millions of yen Six months ended September 30, 2020 Allowance for current expected credit losses Allowance for receivables other than loans (2) Total Loans at banks Short-term Corporate Subtotal Opening balance prior to CECL adoption ¥ 1,564 ¥ 352 ¥ 7,944 ¥ 9,860 ¥ 3,152 ¥ 13,012 Impact of CECL adoption (1) 232 — 1,738 1,970 2 1,972 Opening balance after CECL adoption 1,796 352 9,682 11,830 3,154 14,984 Provision for credit losses (232 ) — (2,244 ) (2,476 ) 1,075 (1,401 ) Charge-offs (318 ) (359 ) 0 (677 ) (1,315 ) (1,992 ) Other (3) — 7 (225 ) (218 ) (17 ) (235 ) Ending balance ¥ 1,246 ¥ — ¥ 7,213 ¥ 8,459 ¥ 2,897 ¥ 11,356 Millions of yen Three months ended September 30, 2020 Allowance for current expected credit losses Allowance for receivables other than loans (2) Total allowance for doubtful accounts Loans at banks Short-term Corporate Subtotal Opening balance 1,454 292 7,727 9,473 2,881 12,354 Provision for losses 110 76 (392 ) (206 ) 31 (175 ) Charge-offs (318 ) (359 ) 0 (677 ) 7 (670 ) Other (3) — (9 ) (122 ) (131 ) (22 ) (153 ) Ending balance ¥ 1,246 ¥ — ¥ 7,213 ¥ 8,459 ¥ 2,897 ¥ 11,356 (1) The balance recognized on April 1, 2020 on adoption of ASC 326. (2) Includes collateralized agreements, customer contract assets and receivables and other receivables. (3) Includes the effect of foreign exchange movements. Troubled debt restructurings In the ordinary course of business, Nomura may choose to restructure 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. A troubled debt restructuring (“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. Expected credit losses for a loan being restructured under a TDR which only involve modification of the loan’s terms (rather than receipt of assets in full or partial settlement) is typically determined using a discounted cash flow analysis. Assets received in full or partial satisfaction of a loan in a TDR are recognized at fair value. 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 and reported as a TDR. 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. As of September 30, 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, the total unpaid principal balance and the related allowance was not significant. The amounts of TDRs which occurred during the three months ended September 30, 2019 and 2020 were not significant. Nonaccrual and past due loans Loans are placed on a nonaccrual status if interest is deemed uncollectible. Nomura policy is to define interest as being uncollectible if the borrower is determined to be in financial difficulty or an interest or principal payment on the loans is 90 days or more past due. Where a loan is placed o 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. 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. As of September 30, 2020, the amount of loans which were on a nonaccrual status was not significant. The amount of loans which were 90 days past due was not significant. 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 by years of origination as of September 30, 2020. Millions of yen September 30, 2020 2020 2019 2018 2017 2016 2015 or Revolving Total Secured loans at banks: AAA-BBB ¥ 106,020 ¥ 31,372 ¥ 12,902 ¥ 4,309 ¥ 4,707 ¥ 11,192 ¥ 682 ¥ 171,184 BB-CCC 147,268 25,390 2,388 — 768 9,608 31 185,453 CC-D — — — — — — — — Others (1) 54,135 — — — — — — 54,135 Total secured loans at banks ¥ 307,423 ¥ 56,762 ¥ 15,290 ¥ 4,309 ¥ 5,475 ¥ 20,800 ¥ 713 ¥ 410,772 Unsecured loans at banks: AAA-BBB ¥ 16,179 ¥ 30,941 ¥ 20,957 ¥ 9,673 ¥ 22,947 ¥ 7,555 ¥ 7,299 ¥ 115,551 BB-CCC — 244 — — 1,200 — — 1,444 CC-D — — — — — — — — Others (1) — — — — — — — — Total unsecured loans at banks ¥ 16,179 ¥ 31,185 ¥ 20,957 ¥ 9,673 ¥ 24,147 ¥ 7,555 ¥ 7,299 ¥ 116,995 Short-term secured margin loans: AAA-BBB ¥ — ¥ — ¥ — ¥ — ¥ — ¥ — ¥ — ¥ — BB-CCC — — — — — — — — CC-D — — — — — — — — Others (1) 143,295 136 — — — — 196,744 340,175 Total short-term secured margin loans ¥ 143,295 ¥ 136 ¥ — ¥ — ¥ — ¥ — ¥ 196,744 ¥ 340,175 Unsecured inter-bank money market loans: AAA-BBB ¥ 1,382 ¥ — ¥ — ¥ — ¥ — ¥ — ¥ — ¥ 1,382 BB-CCC — — — — — — — — CC-D — — — — — — — — Others (1) — — — — — — — — Total unsecured inter-bank money market loans ¥ 1,382 ¥ — ¥ — ¥ — ¥ — ¥ — ¥ — ¥ 1,382 Secured corporate loans: AAA-BBB ¥ 35,342 ¥ 107,155 ¥ 10,054 ¥ 6,774 ¥ 1,247 ¥ 22,805 ¥ — ¥ 183,377 BB-CCC 34,429 49,151 79,001 17,087 8,885 9,094 205,008 402,655 CC-D — — — — — — — — Others (1) 8 33 12 29 4,179 88 517 4,866 Total secured corporate loans ¥ 69,779 ¥ 156,339 ¥ 89,067 ¥ 23,890 ¥ 14,311 ¥ 31,987 ¥ 205,525 ¥ 590,898 Millions of yen September 30, 2020 2020 2019 2018 2017 2016 2015 or Revolving Total Unsecured corporate loans: AAA-BBB ¥ 6,537 ¥ — ¥ — ¥ — ¥ — ¥ — ¥ — ¥ 6,537 BB-CCC — 3,917 — — — 31 — 3,948 CC-D — — — — — — — — Others (1) 202 47 68,796 — — 13 — 69,058 Total unsecured corporate loans ¥ 6,739 ¥ 3,964 ¥ 68,796 ¥ — ¥ — ¥ 44 ¥ — ¥ 79,543 Total ¥ 544,797 ¥ 248,386 ¥ 194,110 ¥ 37,872 ¥ 43,933 ¥ 60,386 ¥ 410,281 ¥ 1,539,765 (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 obligors including financial statements and other information. Internal ratings are also reviewed more frequently for high-risk obligors or problematic exposures and any significant credit event of obligors will trigger an immediate credit review process. |
Leases
Leases | 6 Months Ended |
Sep. 30, 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 as of March 31, 2020 and September 30, 2020. Millions of yen March 31, 2020 September 30, 2020 Cost Accumulated depreciation Net carrying amount Cost Accumulated depreciation Net carrying amount Real estate (1) ¥ 354 ¥ (285 ) ¥ 69 ¥ 354 ¥ (287 ) ¥ 67 Aircraft 16,071 (648 ) 15,423 25,373 (948 ) 24,425 Total ¥ 16,425 ¥ (933 ) ¥ 15,492 ¥ 25,727 ¥ (1,235 ) ¥ 24,492 (1) Cost, accumulated depreciation and net carrying amounts include amounts relating to real estate utilized by Nomura. Nomura recognized lease income of ¥1,735 million and ¥713 million for the six and three months ended September 30, 2019, respectively, and ¥726 million and ¥401 million for the six and three months ended September 30, 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 September 30, 2020. Amounts in connection with finance leases were not significant. Millions of yen September 30, 2020 Minimum lease payments to be received Years of receipt Less than 1 year ¥ 2,130 1 to 2 years 2,124 2 to 3 years 2,064 3 to 4 years 2,064 4 to 5 years 2,064 More than 5 years 12,738 Total ¥ 23,184 |
Business Combinations
Business Combinations | 6 Months Ended |
Sep. 30, 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 “Business combinations” and consideration for the purchase as used to determine goodwill was ¥12,389 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. The operating results and cash flows of Greentech will be reflected to Nomura’s consolidated financial statements from April 1, 2020. The assets acquired and liabilities assumed as of the acquisition date were not material to Nomura’s consolidated balance sheet. |
Other assets-Other _ Other liab
Other assets-Other / Other liabilities | 6 Months Ended |
Sep. 30, 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 and Other liabilities Millions of yen March 31, 2020 September 30, 2020 Other assets—Other: Securities received as collateral ¥ 290,269 ¥ 316,631 Goodwill and other intangible assets (1) 17,783 28,864 Deferred tax assets 13,431 17,583 Investments in equity securities for other than operating purposes (2) 141,855 222,516 Prepaid expenses 16,262 19,727 Other 347,422 309,820 Total ¥ 827,022 ¥ 915,141 Other liabilities: Obligation to return securities received as collateral ¥ 290,269 ¥ 316,631 Accrued income taxes 16,362 21,081 Other accrued expenses 396,560 360,813 Other (3) 331,257 350,940 Total ¥ 1,034,448 ¥ 1,049,465 (1) For the six months ended September 30, 2020, Nomura recognized goodwill attributable to the Wholesale segment as a result of acquiring 100% of the ownership interests in Greentech Capital, LLC. See Note.9 “ Business combination“ (2) Includes equity securities without readily determinable fair value of ¥65,365 million as of September 30, 2020. (3) Includes operating lease liabilities. |
Earnings per share
Earnings per share | 6 Months Ended |
Sep. 30, 2020 | |
Earnings Per Share [Abstract] | |
Earnings per share | 11. Earnings per share: A reconciliation of the amounts and the numbers used in the calculation of net income attributable to NHI shareholders per share (basic and diluted) is as follows: Millions of yen except per share data presented in yen Six months ended September 30 2019 2020 Basic— Net income attributable to NHI shareholders ¥ 194,407 ¥ 210,158 Weighted average number of shares outstanding 3,301,269,085 3,051,543,718 Net income attributable to NHI shareholders per share ¥ 58.89 ¥ 68.87 Diluted— Net income attributable to NHI shareholders ¥ 194,363 ¥ 210,117 Weighted average number of shares outstanding 3,370,803,851 3,131,423,608 Net income attributable to NHI shareholders per share ¥ 57.66 ¥ 67.10 Millions of yen except per share data presented in yen Three months ended September 30 2019 2020 Basic— Net income attributable to NHI shareholders ¥ 138,574 ¥ 67,642 Weighted average number of shares outstanding 3,290,622,990 3,056,897,704 Net income attributable to NHI shareholders per share ¥ 42.11 ¥ 22.13 Diluted— Net income attributable to NHI shareholders ¥ 138,548 ¥ 67,625 Weighted average number of shares outstanding 3,360,616,509 3,143,092,237 Net income attributable to NHI shareholders per share ¥ 41.23 ¥ 21.52 Net income attributable to NHI shareholders is adjusted to reflect the decline in Nomura’s equity share of earnings of subsidiaries and affiliates for the six and the three months ended September 30, 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 earnings per share (“EPS”) reflects the increase in potential issuance of common shares arising from stock-based compensation plans issued by the Company and affiliates, which would have minimal impact on EPS for the six and the three months ended September 30, 2019. The weighted average number of shares used in the calculation of diluted EPS reflects the increase in potential issuance of common shares arising from stock-based compensation plans issued by the Company and affiliates, which would have minimal impact on EPS for the six and the three months ended September 30, 2020. Antidilutive stock options and other stock-based compensation plans to purchase or deliver 15,496,600 and 15,450,900 common shares were not included in the computation of diluted EPS for the six and the three months ended September 30, 2019 and 2020, respectively. |
Employee benefit plans
Employee benefit plans | 6 Months Ended |
Sep. 30, 2020 | |
Employee Benefit Plans [Abstract] | |
Employee benefit plans | 12. Employee benefit plans: Nomura provides various pension plans and other post-employment benefits which cover certain employees worldwide. In addition, Nomura provides health care benefits to certain active and retired employees through its Nomura Securities Health Insurance Society. Net periodic benefit cost The net periodic benefit cost of the defined benefit plans of Japanese entities includes the following components. Millions of yen Six months ended September 30 2019 2020 Service cost ¥ 6,057 ¥ 3,361 Interest cost 906 893 Expected return on plan assets (3,019 ) (2,913 ) Amortization of net actuarial losses 2,647 2,759 Amortization of prior service cost (528 ) (761 ) Net periodic benefit cost ¥ 6,063 ¥ 3,339 Millions of yen Three months ended September 30 2019 2020 Service cost ¥ 3,021 ¥ 1,681 Interest cost 453 447 Expected return on plan assets (1,510 ) (1,457 ) Amortization of net actuarial losses 1,323 1,379 Amortization of prior service cost (264 ) (381 ) Net periodic benefit cost ¥ 3,023 ¥ 1,669 Nomura also recognized net periodic benefit cost of plans other than Japanese entities’ plans, which are not significant. |
Restructuring initiatives
Restructuring initiatives | 6 Months Ended |
Sep. 30, 2020 | |
Restructuring Initiatives [Abstract] | |
Restructuring initiatives | 13. Restructuring initiatives: Nomura has been experiencing 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 works to swiftly reengineer its business platform and change its business approach in order to achieve sustainable growth in any business environment. Concretely, Nomura determined to eliminate the concept of regions to alleviate duplication between business and region, reduce the number of corporate functions, downscale unprofitable and low growth businesses and right-size Liabilities relating to these restructuring costs (including currency translation adjustments) were ¥507 million as of March 31, 2020 and ¥9,305 million were settled during the year ended March 31, 2020. Nomura recognized ¥4,231 million of branch consolidation costs reported within Non-interest There was no significant restructuring cost for the six months ended September 30, 2020. |
Income taxes
Income taxes | 6 Months Ended |
Sep. 30, 2020 | |
Income Tax [Abstract] | |
Income taxes | 14. Income taxes: For the six months ended September 30, 2019, the difference between the effective statutory tax rate of 31% and the effective tax rate of 3.0% was mainly due to non-deductible non-taxable For the three months ended September 30, 2019, the difference between the effective statutory tax rate of 31% and the effective tax rate of (9.2%) was mainly due to non-deductible non-taxable Non-taxable non-taxable For the six months ended September 30, 2020, the difference between the effective statutory tax rate of 31% and the effective tax rate of 19.7% was mainly due to decrease in valuation allowance of foreign subsidiaries, whereas non-deductible For the three months ended September 30, 2020, the difference between the effective statutory tax rate of 31% and the effective tax rate of 17.6% was mainly due to decrease in valuation allowance of foreign subsidiaries, whereas non-deductible |
Other comprehensive income (los
Other comprehensive income (loss) | 6 Months Ended |
Sep. 30, 2020 | |
Accumulated Other Comprehensive Income (loss) | |
Other comprehensive income (loss) | 15. Other comprehensive income (loss): Changes in accumulated other comprehensive income (loss) are as follows: Millions of yen Six months ended September 30, 2019 Balance at beginning of year Other comprehensive income (loss) before reclassifications Reclassifications out of accumulated other comprehensive income (loss) (1) Net change during the period Balance at end of period Cumulative translation adjustments ¥ 17,833 ¥ (39,259 ) ¥ 624 ¥ (38,635 ) ¥ (20,802 ) Pension liability adjustment (71,107 ) 1,635 2,282 3,917 (67,190 ) Own credit adjustments 24,224 (2,816 ) (859 ) (3,675 ) 20,549 Total ¥ (29,050 ) ¥ (40,440 ) ¥ 2,047 ¥ (38,393 ) ¥ (67,443 ) (1) Reclassifications out of accumulated other comprehensive income (loss) were not significant. Millions of yen Six months ended September 30, 2020 Balance at beginning of year Other comprehensive income (loss) before reclassifications Reclassifications out of accumulated other comprehensive income (loss) (1) Net change during the period Balance at end of period Cumulative translation adjustments ¥ (26,274 ) ¥ (18,395 ) ¥ (1,812 ) ¥ (20,207 ) ¥ (46,481 ) Pension liability adjustment (62,571 ) 1,051 2,339 3,390 (59,181 ) Own credit adjustments 62,740 (35,083 ) (10,701 ) (45,784 ) 16,956 Total ¥ (26,105 ) ¥ (52,427 ) ¥ (10,174 ) ¥ (62,601 ) ¥ (88,706 ) (1) Change in own credit adjustments, net of tax in other comprehensive income (loss) for six months ended September 30, 2020 includes reclassification adjustment of ¥12,846 million recognized in Revenue—Net gain on trading Income tax expense Fair value measurements Millions of yen Three months ended September 30, 2019 Balance at beginning of period Other comprehensive income (loss) before reclassifications Reclassifications out of accumulated other comprehensive income (loss) (1) Net change during the period Balance at end of period Cumulative translation adjustments ¥ (13,843 ) ¥ (7,567 ) ¥ 608 ¥ (6,959 ) ¥ (20,802 ) Pension liability adjustment (68,860 ) 119 1,551 1,670 (67,190 ) Own credit adjustments 22,248 (1,663 ) (36 ) (1,699 ) 20,549 Total ¥ (60,455 ) ¥ (9,111 ) ¥ 2,123 ¥ (6,988 ) ¥ (67,443 ) (1) Reclassifications out of accumulated other comprehensive income (loss) were not significant. Millions of yen Three months ended September 30, 2020 Balance at beginning of period Other comprehensive income (loss) before reclassifications Reclassifications out of accumulated other comprehensive income (loss) (1) Net change during the period Balance at end of period Cumulative translation adjustments ¥ (26,958 ) ¥ (17,731 ) ¥ (1,792 ) ¥ (19,523 ) ¥ (46,481 ) Pension liability adjustment (60,263 ) (277 ) 1,359 1,082 (59,181 ) Own credit adjustments 61,248 (42,841 ) (1,451 ) (44,292 ) 16,956 Total ¥ (25,973 ) ¥ (60,849 ) ¥ (1,884 ) ¥ (62,733 ) ¥ (88,706 ) (1) Reclassifications out of accumulated other comprehensive income (loss) were not significant. |
Commitments, contingencies and
Commitments, contingencies and guarantees | 6 Months Ended |
Sep. 30, 2020 | |
Commitments, Contingencies and Guarantees [Abstract] | |
Commitments, contingencies and guarantees | 16. 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 below in commitments to invest. The following table presents a summary of the key types of outstanding commitments provided by Nomura. Millions of yen March 31, 2020 September 30, 2020 Commitments to extend credit Liquidity facilities to central clearing counterparties ¥ 1,288,774 ¥ 955,800 Other commitments to extend credit 958,659 971,078 Total ¥ 2,247,433 ¥ 1,926,878 Commitments to invest ¥ 15,278 ¥ 26,744 As of September 30, 2020, these commitments had the following maturities: Millions of yen Years to Maturity Total contractual amount 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 ¥ 955,800 ¥ 955,800 ¥ — ¥ — ¥ — Other commitments to extend credit 971,078 121,108 156,468 207,002 486,500 Total ¥ 1,926,878 ¥ 1,076,908 ¥ 156,468 ¥ 207,002 ¥ 486,500 Commitments to invest ¥ 26,744 ¥ 1,885 ¥ 2,068 ¥ 4,878 ¥ 17,913 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 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 and claim on a case-by-case Contingencies 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, 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 December 18 , 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 ¥43 billion. 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. The position continues to be assessed. 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 $35 million. Certain of the Company’s subsidiaries in the U.S. securitized residential mortgage loans in the form of residential mortgage-backed securities (“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 With respect to certain of the RMBS issued from 2005 to 2007, the relevant subsidiaries 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 from 2011 to 2014. The breach of contract claims that were brought within the six-year 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). NIP has appealed the decision to the Milan Court of 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 were similar to those on which the MPS claim was founded and the level of damages sought by FMPS was not less than EUR 315.2 million. In September 2020, NIP, without admitting any wrongdoing, entered into a settlement agreement with FMPS pursuant to which FMPS waived its claim against NIP. NIP and FMPS have applied to the court to discontinue the proceedings brought against NIP. 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 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 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 Nomura Securities International, Inc. (“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. 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. 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, 2020 September 30, 2020 Carrying value Maximum Potential Payout/ Notional Total Carrying value Maximum Potential Payout/ Notional Total Derivative contracts (1)(2) ¥ 7,197,647 ¥ 279,734,884 ¥ 5,736,546 ¥ 256,731,733 Standby letters of credit and other guarantees — 2,351 — 14,592 (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. 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 September 30, 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 ¥ 5,736,546 ¥ 256,731,733 ¥ 62,259,465 ¥ 62,506,586 ¥ 34,342,738 ¥ 97,622,944 Standby letters of credit and other guarantees — 14,592 988 12,086 109 1,409 |
Segment and geographic informat
Segment and geographic information | 6 Months Ended |
Sep. 30, 2020 | |
Segment and Geographic Information [Abstract] | |
Segment and geographic information | 17. Segment and geographic information: Operating segments— Nomura’s operating ma n 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 Six months ended September 30, 2019 Non-interest ¥ 154,373 ¥ 61,597 ¥ 271,558 ¥ 184,486 ¥ 672,014 Net interest revenue 3,149 (1,421 ) 44,626 (902 ) 45,452 Net revenue 157,522 60,176 316,184 183,584 717,466 Non-interest 144,143 31,988 277,256 58,702 512,089 Income before income taxes ¥ 13,379 ¥ 28,188 ¥ 38,928 ¥ 124,882 ¥ 205,377 Six months ended September 30, 2020 Non-interest ¥ 172,676 ¥ 61,487 ¥ 376,148 ¥ 129,786 ¥ 740,097 Net interest revenue 1,197 (621 ) 92,826 (8,011 ) 85,391 Net revenue 173,873 60,866 468,974 121,775 825,488 Non-interest 135,979 30,312 315,628 82,388 564,307 Income before income taxes ¥ 37,894 ¥ 30,554 ¥ 153,346 ¥ 39,387 ¥ 261,181 Millions of yen Retail Asset Management Wholesale Other (Incl. elimination) Total Three months ended September 30, 2019 Non-interest ¥ 75,350 ¥ 26,384 ¥ 134,934 ¥ 120,526 ¥ 357,194 Net interest revenue 1,532 (708 ) 21,764 2,769 25,357 Net revenue 76,882 25,676 156,698 123,295 382,551 Non-interest 71,621 15,630 137,777 29,866 254,894 Income before income taxes ¥ 5,261 ¥ 10,046 ¥ 18,921 ¥ 93,429 ¥ 127,657 Three months ended September 30, 2020 Non-interest ¥ 92,331 ¥ 27,132 ¥ 185,601 ¥ 29,829 ¥ 334,893 Net interest revenue 464 (290 ) 34,704 (2,727 ) 32,151 Net revenue 92,795 26,842 220,305 27,102 367,044 Non-interest 69,970 15,442 154,828 45,131 285,371 Income (loss) before income taxes ¥ 22,825 ¥ 11,400 ¥ 65,477 ¥ (18,029 ) ¥ 81,673 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 Six months ended September 30 2019 2020 Net gain related to economic hedging transactions ¥ 19,837 ¥ 612 Realized gain on investments in equity securities held for operating purposes 1,330 809 Equity in earnings of affiliates 16,274 11,860 Corporate items (1) (3,244 ) 29,085 Other (2)(3) 90,685 (2,979 ) Total ¥ 124,882 ¥ 39,387 Millions of yen Three months ended September 30 2019 2020 Net gain (loss) related to economic hedging transactions ¥ 7,043 ¥ (4,965 ) Realized gain on investments in equity securities held for operating purposes 1,254 124 Equity in earnings of affiliates 8,009 5,251 Corporate items (4,635 ) (16,005 ) Other (2)(3) 81,758 (2,434 ) Total ¥ 93,429 ¥ (18,029 ) (1) The income before income taxes for the six months ended September 30, 2020 includes a gain of ¥ 71,075 million which represents the difference between the fair value of the assets acquired and the carrying value of the assets transferred by Nomura as a result of the rights conversion of the Tokyo Nihonbashi district redevelopment project. (2) The income before income taxes for the six months and three months ended September 30, 2019 includes gain of ¥73,293 million from the sale of Nomura Research Institute, Ltd. ordinary shares. (3) Includes the impact of Nomura’s own creditworthiness. The table below presents reconciliations of the combined business segments’ results included in the preceding table to Nomura’s reported Net revenue, Non-interest Income before income taxes Millions of yen Six months ended September 30 2019 2020 Net revenue ¥ 717,466 ¥ 825,488 Unrealized gain (loss) on investments in equity securities held for operating purposes (2,085 ) 4,257 Consolidated net revenue ¥ 715,381 ¥ 829,745 Non-interest ¥ 512,089 ¥ 564,307 Unrealized gain on investments in equity securities held for operating purposes — — Consolidated non-interest ¥ 512,089 ¥ 564,307 Income before income taxes ¥ 205,377 ¥ 261,181 Unrealized gain (loss) on investments in equity securities held for operating purposes (2,085 ) 4,257 Consolidated income before income taxes ¥ 203,292 ¥ 265,438 Millions of yen Three months ended September 30 2019 2020 Net revenue ¥ 382,551 ¥ 367,044 Unrealized gain on investments in equity securities held for operating purposes 829 1,954 Consolidated net revenue ¥ 383,380 ¥ 368,998 Non-interest ¥ 254,894 ¥ 285,371 Unrealized gain on investments in equity securities held for operating purposes — — Consolidated non-interest ¥ 254,894 ¥ 285,371 Income before income taxes ¥ 127,657 ¥ 81,673 Unrealized gain on investments in equity securities held for operating purposes 829 1,954 Consolidated income before income taxes ¥ 128,486 ¥ 83,627 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 table below presents a geographic allocation of Net revenue Income (loss) before income taxes long-lived assets Net revenue Long-lived assets Income (loss) before income taxes Millions of yen Six months ended September 30 2019 2020 Net revenue (1) Americas ¥ 125,274 ¥ 222,091 Europe 60,921 59,681 Asia and Oceania 33,257 27,605 Subtotal 219,452 309,377 Japan 495,929 520,368 Consolidated ¥ 715,381 ¥ 829,745 Income (loss) before income taxes: Americas ¥ 15,409 ¥ 79,157 Europe 3,039 6,580 Asia and Oceania 22,172 21,915 Subtotal 40,620 107,652 Japan 162,672 157,786 Consolidated ¥ 203,292 ¥ 265,438 Millions of yen Three months ended September 30 2019 2020 Net revenue (1) Americas ¥ 52,735 ¥ 112,903 Europe 30,091 39,510 Asia and Oceania 16,441 17,369 Subtotal 99,267 169,782 Japan 284,113 199,216 Consolidated ¥ 383,380 ¥ 368,998 Income (loss) before income taxes: Americas ¥ 1,143 ¥ 39,159 Europe (1,490 ) (8,437 ) Asia and Oceania 10,530 12,720 Subtotal 10,183 43,442 Japan 118,303 40,185 Consolidated ¥ 128,486 ¥ 83,627 (1) There is no revenue derived from transactions with a single major external customer. Millions of yen March 31, 2020 September 30, 2020 Long-lived assets: Americas ¥ 84,904 ¥ 93,175 Europe 52,179 61,857 Asia and Oceania 29,618 28,016 Subtotal 166,701 183,048 Japan 292,212 312,610 Consolidated ¥ 458,913 ¥ 495,658 |
Supplementary subsidiary guaran
Supplementary subsidiary guarantee information required under SEC rules | 6 Months Ended |
Sep. 30, 2020 | |
Supplementary Subsidiary Guarantee Information Required under SEC Rules [Abstract] | |
Supplementary subsidiary guarantee information required under SEC rules | 18. 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. |
Subsequent events
Subsequent events | 6 Months Ended |
Sep. 30, 2020 | |
Subsequent Events [Abstract] | |
Significant subsequent events | 19. Subsequent events: Cancellation of treasury shares On December 1, 2020, the Company ha s Outline of Cancellation 1. Type of shares to be cancelled Nomura Holdings common shares 2. Number of shares to be cancelled 260,000,000 shares (7.4 percent of outstanding shares) |
Summary of accounting policies
Summary of accounting policies (Policies) | 6 Months Ended |
Sep. 30, 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. The accounting and financial reporting policies of Nomura conform to U. S. generally accepted accounting principles (“U. S.GAAP”) as applicable to broker dealers. A summary of the significant accounting policies applied by Nomura within these interim consolidated financial statements is provided within in the notes to the consolidated financial statements of Nomura’s annual report on Form 20-F |
Use of estimates | Use of estimates— While the COVID-19 COVID-19 As a result of the share price of certain equity method investments being below their carrying value during the six months ended September 30, 2020, the Company evaluated those investments for impairment. However, considering the financial condition and performance of those investees as well as the period and extent to which the share price was below carrying value, the Company determined the impairment was not other-than-temporary and therefore no impairment losses were recognized through earnings during the period. |
New accounting pronouncements recently adopted | New accounting pronouncements recently adopted— No new accounting pronouncements relevant to Nomura were adopted during the three months ended September 30, 2020. The following table presents a summary of new accounting pronouncements relevant to Nomura which have been adopted during the three months ended June 30, 2020: Pronouncement Summary of new guidance Adoption date and Effect on these consolidated ASU 2016-13, “ Measurement of Credit Losses on Financial Instruments (1) • • in-scope • Replaces existing incurred credit losses model under • Permits electing the fair value option for certain financial instruments on adoption date. • Requires enhanced qualitative and quantitative disclosures around credit risk, the methodology used to estimate and monitor expected credit losses and changes in estimates of expected credit losses. 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 Retained earnings For financial instruments elected for the FVO, ¥9,774 million decrease in Loans receivable 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 ASU 2019-12, “ Simplifying the Accounting for Income Taxes • ”Income Taxes” • non-income • Modified retrospective adoption from April 1, 2020. No material impact on adoption and no material impact expected in future reporting periods. ASU 2017- 04 “Goodwill” • • • • Prospective adoption to goodwill tests performed from April 1, 2020. No material impact expected on future goodwill impairment tests. ASU 2020-04 “ Reference rate reform • • • The expedients and exceptions provided by the ASU are permitted to be adopted any time until December 31, 2022. No material expedients have been applied during the six months ended September 30, 2020. Nomura plans to apply certain of the optional expedients to relevant contract modification and hedge accounting relationship during the reference rate transition period and does not expect a material impact in future reporting periods. (1) 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 Topic326, Financial Instruments—Credit Losses” 2019-10 “Financial Instruments—Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842): Effective Dates” |
Future accounting developments | Future accounting developments— There are no new authoritative accounting pronouncements relevant to Nomura which will be adopted on or after April 1, 2021 which may have a material impact on these consolidated financial statements. |
Fair value measurements (Tables
Fair value measurements (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair value of financial assets and financial liabilities measured on recurring basis | The following tables present the amounts of Nomura’s financial instruments measured at fair value on a recurring basis as of March 31, 2020 and September 30, 2020 within the fair value hierarchy. 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 Billions of yen September 30, 2020 Level 1 Level 2 Level 3 Counterparty and Cash Collateral Netting (1) Balance as of September 30, 2020 Assets: Trading assets and private equity and debt investments (2) Equities (3) ¥ 1,800 ¥ 836 ¥ 10 ¥ — ¥ 2,646 Private equity and debt investments (4) — — 49 — 49 Japanese government securities 2,043 — — — 2,043 Japanese agency and municipal securities — 77 2 — 79 Foreign government, agency and municipal securities 3,660 2,237 13 — 5,910 Bank and corporate debt securities and loans for trading purposes — 1,134 129 — 1,263 Commercial mortgage-backed securities (“CMBS”) — 0 2 — 2 Residential mortgage-backed securities (“RMBS”) — 3,004 20 — 3,024 Issued/Guaranteed by government sponsored entity — 2,946 — — 2,946 Other — 58 20 — 78 Real estate-backed securities — 0 62 — 62 Collateralized debt obligations (“CDOs”) and other (5) — 28 11 — 39 Investment trust funds and other 319 24 0 — 343 Total trading assets and private equity and debt investments 7,822 7,340 298 — 15,460 Derivative assets (6) Equity contracts 0 1,179 54 — 1,233 Interest rate contracts 31 11,879 28 — 11,938 Credit contracts 0 322 51 — 373 Foreign exchange contracts 0 3,511 31 — 3,542 Commodity contracts 1 0 — — 1 Netting — — — (15,997 ) (15,997 ) Total derivative assets 32 16,891 164 (15,997 ) 1,090 Subtotal ¥ 7,854 ¥ 24,231 ¥ 462 ¥ (15,997 ) ¥ 16,550 Loans and receivables (7) — 809 88 — 897 Collateralized agreements (8) — 303 18 — 321 Other assets Non-trading 105 307 — — 412 Other (2)(3) 303 126 150 — 579 Total ¥ 8,262 ¥ 25,776 ¥ 718 ¥ (15,997 ) ¥ 18,759 Liabilities: Trading liabilities Equities ¥ 1,746 ¥ 175 ¥ 0 ¥ — ¥ 1,921 Japanese government securities 935 — — — 935 Japanese agency and municipal securities — 0 — — 0 Foreign government, agency and municipal securities 3,138 1,135 0 — 4,273 Bank and corporate debt securities — 198 2 — 200 Residential mortgage-backed securities (“RMBS”) — 5 — — 5 Collateralized debt obligations (“CDOs”) and other (5) — 0 3 — 3 Investment trust funds and other 129 — 0 — 129 Total trading liabilities 5,948 1,513 5 — 7,466 Derivative liabilities (6) Equity contracts 1 1,631 73 — 1,705 Interest rate contracts 13 11,442 86 — 11,541 Credit contracts 1 365 66 — 432 Foreign exchange contracts 0 3,469 31 — 3,500 Commodity contracts 8 0 — — 8 Netting — — — (15,863 ) (15,863 ) Total derivative liabilities 23 16,907 256 (15,863 ) 1,323 Subtotal ¥ 5,971 ¥ 18,420 ¥ 261 ¥ (15,863 ) ¥ 8,789 Short-term borrowings (9) — 514 74 — 588 Payables and deposits (10) — 31 1 — 32 Collateralized financing (8) — 219 — — 219 Long-term borrowings (9)(11)(12) 4 3,566 459 — 4,029 Other liabilities (13) 219 109 13 — 341 Total ¥ 6,194 ¥ 22,859 ¥ 808 ¥ (15,863 ) ¥ 13,998 (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, 2020 and September 30, 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, 2020 Financial Instrument Fair value in billions Valuation technique Significant unobservable valuation Range of valuation inputs (1) Weighted Average (2) Impact of increases in inputs (3)(4) Interrelationships between valuation (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 Liquidity discounts 7.0 – 13.5% 0.0 – 1.0% 5.0 – 30.0% 10.0% 0.6% 9.9% Lower fair value Higher fair value Lower fair value No predictable interrelationship Market multiples EV/EBITDA ratios PE Ratios Liquidity discounts 1.0 – 11.0 x 9.6 x 5.0 – 30.0% 8.9 x 9.6 x 9.8% Higher fair value Higher fair value Lower fair value No predictable interrelationship Foreign government, agency and municipal securities 8 DCF Credit spreads Recovery rates 0.0 – 1.4% 4.0 – 18.0% 0.5% 10.8% Lower fair value Higher fair value No predictable interrelationship Bank and corporate debt securities and loans for trading purposes 228 DCF Credit spreads Recovery rates 0.0 – 17.9% 0.0 – 80.7% 5.8% 43.8% Lower fair value Higher fair value No predictable interrelationship Residential mortgage backed securities (“RMBS”) 62 DCF Yields Prepayment rates Loss severities 0.0 – 30.8% 7.1 – 15.0% 0.0 – 100.0% 6.7% 8.9% 40.6% Lower fair value Lower fair value 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 Prepayment rates Default probabilities Loss severities 6.4 – 56.8% 20.0% 2.0% 0.0 – 100.0% 21.6% 20.0% 2.0% 73.0% Lower fair value Lower fair value Lower fair value 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 value in billions Valuation technique Significant unobservable valuation Range of valuation inputs (1) Weighted Average (2) Impact of increases in inputs (3)(4) Interrelationships between valuation inputs (5) Derivatives, net: Equity contracts ¥ 19 Option models Dividend yield Volatilities Correlations 0.0 – 18.7% 12.2 – 144.7% (0.85) – 0.97 — — — Higher fair value Higher fair value Higher fair value No predictable interrelationship Interest rate contracts (54 ) DCF/ Option models Interest rates Volatilities Volatilities Correlations (0.1) – 2.0% 8.8 – 13.8% 24.6 119.4 (1.00) – 0.98 — — — — Higher fair value Higher fair value Higher fair value Higher fair value No predictable interrelationship Credit contracts (1 ) DCF/ Option models Credit spreads Recovery rates Volatilities Correlations 0.1 – 28.4% 0.0 – 105.4% 50.0 – 83.0% 0.16 – 0.82 — — — — Higher fair value Higher fair value Higher fair value Higher fair value No predictable interrelationship Foreign exchange contracts 7 Option models Interest rates Volatilities Volatilities Correlations (0.1) – 0.8% 2.0 – 23.9% 19.2 50.7 (0.25) – 0.80 — — — — Higher fair value Higher fair value Higher fair value Higher fair value No predictable interrelationship Loans and receivables 96 DCF Credit spreads Recovery rates 0.0 – 20.5% 57.5 – 98.0% 4.2% 85.0% 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 Growth rates Liquidity discounts 10.1% 2.0% 10.0% 10.1% 2.0% 10.0% 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 6.3 – 20.7 x 0.3 – 1.3 x 10.0 – 40.0% 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 Correlations 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 Volatilities Correlations 8.6 – 76.4% 30.0 103.2 (1.00) – 0.98 — — — Higher fair value Higher fair value Higher fair value No predictable interrelationship September 30, 2020 Financial Instrument Fair value in billions Valuation technique Significant unobservable input Range of valuation inputs (1) Weighted Average (2) Impact of increases in inputs (3)(4) Interrelationships between valuation inputs (5) Assets: Trading assets and private equity and debt investments Equities ¥ 10 DCF Liquidity discounts 75.0% 75.0% Lower fair value Not applicable Private equity and debt investments 49 DCF WACC Growth rates Liquidity discounts 6.6 – 12.6% 0.0 – 1.0% 10.2% 0.4% 13.4% Lower fair value Higher fair value Lower fair value No predictable interrelationship Market multiples EV/EBITDA ratios PE Ratios Liquidity discounts (0.4) – 10.6 x 10.5 x 5.0 – 30.0% 5.6 x Higher fair value Higher fair value Lower fair value No predictable interrelationship Foreign government, agency and municipal securities 13 DCF Credit spreads Recovery rates 0.0 – 1.7% 5.8 – 30.0% 0.5% 10.2% Lower fair value Higher fair value No predictable interrelationship Bank and corporate debt securities and loans for trading purposes 129 DCF Credit spreads Recovery rates 0.0 – 15.0% 0.0 – 97.0% 5.0% 77.8% Lower fair value Higher fair value No predictable interrelationship Residential mortgage backed securities (“RMBS”) 20 DCF Yields Prepayment rates Loss severities 0.0 – 40.5% 6.1 – 15.0% 0.0 – 96.8% 5.4% 7.7% 19.6% Lower fair value Lower fair value Lower fair value No predictable interrelationship Real estate-backed securities 62 DCF Loss severities 0.0 – 15.0% 3.9% Lower fair value Not applicable Collateralized debt obligations (“CDOs”) and other 11 DCF Yields Prepayment rates Default probabilities Loss severities 9.2 – 47.9% 20.0% 2.0% 90.9 – 100.0% 20.3% 20.0% 2.0% 95.0% Lower fair value Lower fair value Lower fair value Lower fair value Change in default probabilities typically accompanied by directionally similar change in loss severities and opposite change in prepayment rates September 30, 2020 Financial Instrument Fair value in billions Valuation technique Significant unobservable input Range of valuation inputs (1) Weighted Average (2) Impact of inputs (3)(4) Interrelationships (5) Derivatives, net: Equity contracts ¥ (19 ) Option models Dividend yield 0.0 – 21.0% — — — Higher fair value Higher fair value Higher fair value No predictable interrelationship Interest rate contracts (58 ) DCF/ Option models Interest rates (0.3) – 1.2% 27.0 93.3 — — — — Higher fair value Higher fair value Higher fair value Higher fair value No predictable interrelationship Credit contracts (15 ) DCF/ Option models Credit spreads 0.0 – 25.8% — — — — Higher fair value No predictable interrelationship Foreign exchange contracts 0 Option models Interest rates (0.3) – 1.0% 17.4 28.0 — — — — Higher fair value No predictable interrelationship Loans and receivables 88 DCF Credit spreads 0.0 – 63.5% 6.5% Lower fair value No predictable interrelationship Collateralized agreements 18 DCF Repo rate 3.8 – 5.1% 4.8% Lower fair value Not applicable Other assets Other (6) 150 DCF WACC 9.3% 2.0% 10.0% 9.3% Lower fair value No predictable interrelationship Market multiples EV/EBITDA ratios 4.7 – 6.0 x 5.7 x Higher fair value Generally changes in multiples Liabilities: Trading Liabilities Collateralized debt obligations (“CDOs”) and other 3 DCF Yields 9.5 – 23.9% 2.0% 16.2% Lower fair value Change in default probabilities Short-term borrowings 74 DCF/ Option models Volatilities 14.0 – 90.1% — — Higher fair value No predictable interrelationship Long-term borrowings 459 DCF/ Option models Volatilities 8.5 – 90.1% 31.8 93.3 — — — 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 six months ended September 30, 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 Six months ended September 30, 2019 Beginning 2019 Total gains (losses) recognized in 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 six months ended September 30, 2019 Assets: Trading assets and private equity and debt investments Equities ¥ 13 ¥ 0 ¥ — ¥ 0 ¥ (1 ) ¥ — ¥ 0 ¥ 0 ¥ (2 ) ¥ 10 Private equity and debt investments 26 2 — 0 (1 ) — (1 ) — — 26 Japanese agency and municipal securities 1 0 — 0 0 — — — — 1 Foreign government, agency and municipal securities 5 0 — 16 (16 ) — 0 2 (1 ) 6 Bank and corporate debt securities and loans for trading purposes 160 (1 ) — 39 (60 ) — (6 ) 63 (18 ) 177 Commercial mortgage-backed securities (“CMBS”) 2 0 — 0 0 — — 0 0 2 Residential mortgage-backed securities (“RMBS”) 3 (1 ) — 33 (8 ) — 0 — (1 ) 26 Real estate-backed securities 69 4 — 106 (74 ) — (2 ) — — 103 Collateralized debt obligations (“CDOs”) and other 19 (5 ) — 81 (74 ) — (1 ) 6 (5 ) 21 Investment trust funds and other 1 0 — 8 (9 ) — 0 0 0 0 Total trading assets and private equity and debt investments 299 (1 ) — 283 (243 ) — (10 ) 71 (27 ) 372 Derivatives, net (3) Equity contracts (8 ) 7 — — — 0 0 3 14 16 Interest rate contracts (54 ) 5 — — — 1 0 1 1 (46 ) Credit contracts (8 ) (3 ) — — — (1 ) 0 (11 ) 0 (23 ) Foreign exchange contracts 20 (13 ) — — — 5 (1 ) 0 2 13 Commodity contracts 0 0 — — — 0 0 — — 0 Total derivatives, net (50 ) (4 ) — — — 5 (1 ) (7 ) 17 (40 ) Subtotal ¥ 249 ¥ (5 ) ¥ — ¥ 283 ¥ (243 ) ¥ 5 ¥ (11 ) ¥ 64 ¥ (10 ) ¥ 332 Loans and receivables 129 1 — 43 (58 ) — (5 ) 21 (15 ) 116 Collateralized agreements 33 0 — — (26 ) — (1 ) 6 — 12 Other assets Other 166 9 — 7 (1 ) — (2 ) — — 179 Total ¥ 577 ¥ 5 ¥ — ¥ 333 ¥ (328 ) ¥ 5 ¥ (19 ) ¥ 91 ¥ (25 ) ¥ 639 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 0 — 1 0 — 0 — — 1 Collateralized debt obligations (“CDOs”) and other — — — 3 (1 ) — — — — 2 Investment trust funds and other — — — 0 0 — 0 0 — 0 Total trading liabilities ¥ 0 ¥ 0 ¥ — ¥ 4 ¥ (1 ) ¥ — ¥ 0 ¥ 0 ¥ 0 ¥ 3 Short-term borrowings 31 1 0 30 (30 ) — 0 0 (5 ) 25 Payables and deposits 0 0 0 6 0 — 0 1 — 7 Long-term borrowings 535 1 1 136 (123 ) — (1 ) 37 (39 ) 543 Other liabilities 0 0 — — — — 0 — — 0 Total ¥ 566 ¥ 2 ¥ 1 ¥ 176 ¥ (154 ) ¥ — ¥ (1 ) ¥ 38 ¥ (44 ) ¥ 578 Billions of yen Six months ended September 30, 2020 Beginning balance as of six months ended September 30, 2020 Total gains (losses) recognized in 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 six months ended September 30, 2020 Assets: Trading assets and private equity and debt investments Equities ¥ 14 ¥ 2 ¥ — ¥ 22 ¥ (27 ) ¥ — ¥ 0 ¥ 0 ¥ (1 ) ¥ 10 Private equity and debt investments 31 3 — 17 (2 ) — 0 — — 49 Japanese agency and municipal securities 2 0 — 0 0 — — 0 0 2 Foreign government, agency and municipal securities 8 0 — 11 (7 ) — 0 3 (2 ) 13 Bank and corporate debt securities and loans for trading purposes 228 (1 ) — 25 (115 ) — (3 ) 19 (24 ) 129 Commercial mortgage-backed securities (“CMBS”) 1 0 — 1 0 — — — 0 2 Residential mortgage-backed securities (“RMBS”) 62 0 — 10 (29 ) — (1 ) — (22 ) 20 Real estate-backed securities 94 (5 ) — 41 (66 ) — (2 ) — 0 62 Collateralized debt obligations (“CDOs”) and other 32 (2 ) — 36 (48 ) — 0 0 (7 ) 11 Investment trust funds and other 0 0 — — — — 0 — — 0 Total trading assets and private equity and debt investments 472 (3 ) — 163 (294 ) — (6 ) 22 (56 ) 298 Derivatives, net (3) Equity contracts 19 (28 ) — — — (15 ) 0 13 (8 ) (19 ) Interest rate contracts (54 ) (4 ) — — — 1 0 (4 ) 3 (58 ) Credit contracts (1 ) (10 ) — — — (2 ) 0 (3 ) 1 (15 ) Foreign exchange contracts 7 2 — — — (9 ) 0 (3 ) 3 0 Total derivatives, net (29 ) (40 ) — — — (25 ) 0 3 (1 ) (92 ) Subtotal ¥ 443 ¥ (43 ) ¥ — ¥ 163 ¥ (294 ) ¥ (25 ) ¥ (6 ) ¥ 25 ¥ (57 ) ¥ 206 Loans and receivables 96 3 — 25 (36 ) — (2 ) 9 (7 ) 88 Collateralized agreements 15 0 — — — — 0 3 — 18 Other assets Other 168 21 — 0 (36 ) — (3 ) — 0 150 Total ¥ 722 ¥ (19 ) ¥ — ¥ 188 ¥ (366 ) ¥ (25 ) ¥ (11 ) ¥ 37 ¥ (64 ) ¥ 462 Liabilities: Trading liabilities Equities ¥ 0 ¥ 0 ¥ — ¥ 0 ¥ 0 ¥ — ¥ 0 ¥ 0 ¥ 0 ¥ 0 Foreign government, agency and municipal securities 0 0 — 0 0 — 0 — — 0 Bank and corporate debt securities 1 0 — 2 (1 ) — 0 1 (1 ) 2 Collateralized debt obligations (“CDOs”) and other 1 0 — 6 (4 ) — 0 — — 3 Investment trust funds and other 0 0 — — 0 — 0 — — 0 Total trading liabilities ¥ 2 ¥ 0 ¥ — ¥ 8 ¥ (5) ¥ — ¥ 0 ¥ 1 ¥ (1 ) ¥ 5 Short-term borrowings 29 (2 ) 0 84 (46 ) — (1 ) 11 (5 ) 74 Payables and deposits 1 0 0 — 0 — — — — 1 Long-term borrowings 409 (21 ) 2 136 (124 ) — 0 36 (17 ) 459 Other liabilities 0 (9 ) — 4 0 — 0 1 (1 ) 13 Total ¥ 441 ¥ (32 ) ¥ 2 ¥ 232 ¥ (175 ) ¥ — ¥ (1 ) ¥ 49 ¥ (24 ) ¥ 552 Billions of yen Three months ended September 30, 2019 Beginning balance as of three months ended September 30, 2019 Total gains (losses) recognized in 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 three months ended September 30, 2019 Assets: Trading assets and private equity and debt investments Equities ¥ 12 ¥ 0 ¥ — ¥ 0 ¥ 0 ¥ — ¥ 0 ¥ 0 ¥ (2 ) ¥ 10 Private equity and debt investments 26 1 — 0 (1 ) — 0 — — 26 Japanese agency and municipal securities 1 0 — — 0 — — — — 1 Foreign government, agency and municipal securities 6 0 — 7 (8 ) — 0 1 0 6 Bank and corporate debt securities and loans for trading purposes 195 0 — 22 (41 ) — (1 ) 19 (17 ) 177 Commercial mortgage-backed securities (“CMBS”) 2 0 — 0 — — — 0 — 2 Residential mortgage-backed securities (“RMBS”) 3 0 — 31 (7 ) — 0 — (1 ) 26 Real estate-backed securities 80 1 — 64 (42 ) — 0 — — 103 Collateralized debt obligations (“CDOs”) and other 27 (3 ) — 10 (10 ) — 0 0 (3 ) 21 Investment trust funds and other 1 0 — 8 (8 ) — (1 ) 0 — 0 Total trading assets and private equity and debt investments 353 (1 ) — 142 (117 ) — (2 ) 20 (23 ) 372 Derivatives, net (3) Equity contracts 2 4 — — — 0 0 0 10 16 Interest rate contracts (54 ) (4 ) — — — 10 0 0 2 (46 ) Credit contracts (9 ) (2 ) — — — (2 ) 0 (10 ) 0 (23 ) Foreign exchange contracts 15 (6 ) — — — 3 0 0 1 13 Commodity contracts 0 0 — — — 0 0 — — 0 Total derivatives, net (46 ) (8 ) — — — 11 0 (10 ) 13 (40 ) Subtotal ¥ 307 ¥ (9 ) ¥ — ¥ 142 ¥ (117 ) ¥ 11 ¥ (2 ) ¥ 10 ¥ (10 ) ¥ 332 Loans and receivables 126 0 — 33 (48 ) — 0 21 (16 ) 116 Collateralized agreements 26 0 — — (16 ) — 0 2 — 12 Other assets Other 173 1 — 5 0 — 0 — — 179 Total ¥ 632 ¥ (8 ) ¥ — ¥ 180 ¥ (181 ) ¥ 11 ¥ (2 ) ¥ 33 ¥ (26 ) ¥ 639 Liabilities: Trading liabilities Equities ¥ 0 ¥ 0 ¥ — ¥ 0 ¥ 0 ¥ — ¥ 0 ¥ — ¥ — ¥ 0 Foreign government, agency and municipal securities 0 0 — — — — 0 — — 0 Bank and corporate debt securities 1 0 — 0 0 — 0 — — 1 Collateralized debt obligations (“CDOs”) and other 3 — — — (1 ) — 0 — — 2 Investment trust funds and other 0 — — — 0 — 0 — — 0 Total trading liabilities ¥ 4 ¥ 0 ¥ — ¥ 0 ¥ (1 ) ¥ — ¥ 0 ¥ — ¥ — ¥ 3 Short-term borrowings 43 1 0 10 (25 ) — 0 0 (2 ) 25 Payables and deposits 2 0 0 5 — — 0 0 — 7 Long-term borrowings 556 2 1 68 (72 ) — 0 12 (18 ) 543 Other liabilities 0 0 — — — — 0 — — 0 Total ¥ 605 ¥ 3 ¥ 1 ¥ 83 ¥ (98 ) ¥ — ¥ 0 ¥ 12 ¥ (20 ) ¥ 578 Billions of yen Three months ended September 30, 2020 Beginning balance as of three months ended September 30, 2020 Total gains (losses) recognized in 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 three months ended September 30, 2020 Assets: Trading assets and private equity and debt investments Equities ¥ 11 ¥ 2 ¥ — ¥ 22 ¥ (24 ) ¥ — ¥ 0 ¥ 0 ¥ (1 ) ¥ 10 Private equity and debt investments 37 1 — 11 — — 0 — — 49 Japanese agency and municipal securities 2 0 — 0 0 — — — 0 2 Foreign government, agency and municipal securities 10 0 — 5 (4 ) — 0 2 0 13 Bank and corporate debt securities and loans for trading purposes 207 2 — 14 (86 ) — (3 ) 4 (9 ) 129 Commercial mortgage-backed securities (“CMBS”) 1 1 — — 0 — — — — 2 Residential mortgage-backed securities (“RMBS”) 21 0 — — (1 ) — 0 — — 20 Real estate-backed securities 82 0 — 25 (44 ) — (1 ) — — 62 Collateralized debt obligations (“CDOs”) and other 11 1 — 23 (24 ) — 0 0 — 11 Investment trust funds and other 0 0 — — — — 0 — — 0 Total trading assets and private equity and debt investments 382 7 — 100 (183 ) — (4 ) 6 (10 ) 298 Derivatives, net (3) Equity contracts (16 ) (6 ) — — — (8 ) 0 5 6 (19 ) Interest rate contracts (66 ) 2 — — — 4 0 (2 ) 4 (58 ) Credit contracts (8 ) (4 ) — — — (4 ) 0 — 1 (15 ) Foreign exchange contracts 0 0 — — — (2 ) 0 0 2 0 Total derivatives, net (90 ) (8 ) — — — (10 ) 0 3 13 (92 ) Subtotal ¥ 292 ¥ (1 ) ¥ — ¥ 100 ¥ (183 ) ¥ (10 ) ¥ (4 ) ¥ 9 ¥ 3 ¥ 206 Loans and receivables 98 2 — 8 (15 ) — (1 ) 2 (6 ) 88 Collateralized agreements 19 (1 ) — — — — 0 — — 18 Other assets Other 147 6 — 0 0 — (3 ) — — 150 Total ¥ 556 ¥ 6 ¥ — ¥ 108 ¥ (198 ) ¥ (10 ) ¥ (8 ) ¥ 11 ¥ (3 ) ¥ 462 Liabilities: Trading liabilities Equities ¥ 1 ¥ 0 ¥ — ¥ (1 ) ¥ 0 ¥ — ¥ 0 ¥ — ¥ 0 ¥ 0 Foreign government, agency and municipal securities 0 0 — 0 — — 0 — — 0 Bank and corporate debt securities 2 0 — 1 0 — 0 0 (1 ) 2 Collateralized debt obligations (“CDOs”) and other 1 0 — 5 (3 ) — 0 — — 3 Investment trust funds and other 0 0 — — 0 — 0 — — 0 Total trading liabilities ¥ 4 ¥ 0 ¥ — ¥ 5 ¥ (3 ) ¥ — ¥ 0 ¥ 0 ¥ (1 ) ¥ 5 Short-term borrowings 30 0 0 59 (21 ) — 0 8 (2 ) 74 Payables and deposits 1 0 0 — 0 — — — — 1 Long-term borrowings 447 (4 ) (2 ) 61 (60 ) — 0 16 (11 ) 459 Other liabilities 5 (5 ) — 3 — — 0 1 (1 ) 13 Total ¥ 487 ¥ (9 ) ¥ (2 ) ¥ 128 ¥ (84 ) ¥ — ¥ 0 ¥ 25 ¥ (15 ) ¥ 552 (1) Includes gains and losses reported primarily within Net gain on trading, Gain on private equity and debt investments, Gain on investments in equity securities, Revenue—Other Non-interest 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 Six months ended September 30 2019 2020 Unrealized gains / (losses) (1) Assets: Trading assets and private equity and debt investments Equities ¥ 0 ¥ 1 Private equity and debt investments 2 2 Japanese agency and municipal securities 0 0 Foreign government, agency and municipal securities 0 0 Bank and corporate debt securities and loans for trading purposes (6 ) 0 Commercial mortgage-backed securities (“CMBS”) 0 0 Residential mortgage-backed securities (“RMBS”) (1 ) 0 Real estate-backed securities 0 (2 ) Collateralized debt obligations (“CDOs”) and other (3 ) (3 ) Investment trust funds and other 0 — Total trading assets and private equity and debt investments (8 ) (2 ) Derivatives, net (2) Equity contracts 5 (38 ) Interest rate contracts (5 ) (10 ) Credit contracts (1 ) 12 Foreign exchange contracts 2 (15 ) Commodity contracts 0 — Total derivatives, net 1 (51 ) Subtotal ¥ (7 ) ¥ (53 ) Loans and receivables 1 1 Collateralized agreements 0 0 Other assets Other 13 21 Total ¥ 7 ¥ (31 ) Liabilities: Trading liabilities Equities ¥ 0 ¥ 0 Foreign government, agency and municipal securities 0 0 Bank and corporate debt securities 0 0 Collateralized debt obligations (“CDOs”) and other — 0 Total trading liabilities ¥ 0 ¥ 0 Short-term borrowings (3) 1 2 Payables and deposits (3) 0 0 Long-term borrowings (3) 7 (15 ) Other liabilities 0 (7 ) Total ¥ 8 ¥ (20 ) Billions of yen Three months ended September 30 2019 2020 Unrealized gains / (losses) (1) Assets: Trading assets and private equity and debt investments Equities ¥ 0 ¥ 0 Private equity and debt investments 1 1 Japanese agency and municipal securities 0 0 Foreign government, agency and municipal securities 0 0 Bank and corporate debt securities and loans for trading purposes (3 ) 1 Commercial mortgage-backed securities (“CMBS”) 0 0 Residential mortgage-backed securities (“RMBS”) (1 ) 0 Real estate-backed securities 0 0 Collateralized debt obligations (“CDOs”) and other (2 ) 0 Investment trust funds and other 0 0 Total trading assets and private equity and debt investments (5 ) 2 Derivatives, net (2) Equity contracts 5 (12 ) Interest rate contracts (4 ) 2 Credit contracts 0 (4 ) Foreign exchange contracts 3 0 Commodity contracts 0 — Total derivatives, net 4 (14 ) Subtotal ¥ (1 ) ¥ (12 ) Loans and receivables 0 2 Collateralized agreements — 0 Other assets Other 5 6 Total ¥ 4 ¥ (4 ) Liabilities: Trading liabilities Equities ¥ 0 ¥ — Foreign government, agency and municipal securities 0 0 Bank and corporate debt securities 0 0 Collateralized debt obligations (“CDOs”) and other — 0 Total trading liabilities ¥ 0 ¥ 0 Short-term borrowings (3) 1 1 Payables and deposits (3) 0 0 Long-term borrowings (3) 5 (3 ) Other liabilities 0 (4 ) Total ¥ 6 ¥ (6 ) (1) Includes gains and losses reported within Net gain on trading, Gain (loss) on private equity and debt investments, Gain on investments in equity securities, Revenue—Other Non-interest 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. (3) Includes changes in unrealized gains and losses in Other comprehensive income (loss) 2 2 1 ) |
Information on investments where net asset value per share is calculated | 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 Venture capital funds 3 3 — — Private equity funds 21 9 — — Real estate funds 6 1 — — Total ¥ 32 ¥ 13 Billions of yen September 30, 2020 Fair value Unfunded commitments (1) Redemption frequency (if currently eligible) (2) Redemption notice (3) Hedge funds ¥ 1 ¥ — Monthly Same day -90 days Venture capital funds 2 3 — — Private equity funds 17 19 — — Real estate funds 6 1 — — Total ¥ 26 ¥ 23 (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 Six months ended September 30 2019 2020 Gains / (Losses) (1) Assets: Trading assets and private equity and debt investments (2) Trading assets ¥ 0 ¥ 1 Private equity and debt investments 0 0 Loans and receivables 3 4 Collateralized agreements (3) 2 2 Other assets (2) 1 24 Total ¥ 6 ¥ 31 Liabilities: Short-term borrowings (4) ¥ 17 ¥ (27 ) Payables and deposits 0 1 Collateralized financing (3) (2 ) (1 ) Long-term borrowings (4)(5) (106 ) (190 ) Other liabilities (6) (4 ) (4 ) Total ¥ (95 ) ¥ (221) Billions of yen Three months ended September 30 2019 2020 Gains / (Losses) (1) Assets: Trading assets and private equity and debt investments (2) Trading assets ¥ 0 ¥ 1 Private equity and debt investments (1 ) 0 Loans and receivables 3 2 Collateralized agreements (3) 1 3 Other assets (2) (7 ) 4 Total ¥ (4 ) ¥ 10 Liabilities: Short-term borrowings (4) ¥ 11 ¥ 19 Payables and deposits 0 0 Collateralized financing (3) (1 ) (2 ) Long-term borrowings (4)(5) (39 ) (36 ) Other liabilities (6) (3 ) (5 ) Total ¥ (32 ) ¥ (24) (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 Six months ended September 30 2019 2020 Changes recognized as a credit (debit) to other comprehensive income ¥ (5 ) ¥ (53 ) Credit (debit) amounts reclassified to earnings (1 ) (11 ) Cumulative credit (debit) balance recognized in accumulated other comprehensive income 29 27 Billions of yen Three months ended September 30 2019 2020 Changes recognized as a credit (debit) to other comprehensive income ¥ (3 ) ¥ (54 ) Credit (debit) amounts reclassified to earnings 0 (2 ) |
Geographic allocations of trading assets related to government, agency, municipal securities | Billions of yen March 31, 2020 Japan U.S. EU & Other Total (1) Government, agency and municipal securities ¥ 1,934 ¥ 1,889 ¥ 2,704 ¥ 672 ¥ 7,199 Billions of yen September 30, 2020 Japan U.S. EU & Other Total (1) Government, agency and municipal securities ¥ 2,122 ¥ 2,475 ¥ 2,540 ¥ 895 ¥ 8,032 (1) Other than above, there were ¥321 billion and ¥291 billion of government, agency and municipal securities reported within Other assets—Non-trading |
Carrying values, fair values and classification within the fair value hierarchy for certain classes of financial instrument | Billions of yen March 31, 2020 (1) Fair value by level Carrying value Fair value 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 Billions of yen September 30, 2020 (1) Fair value by level Carrying value Fair value Level 1 Level 2 Level 3 Assets: Cash and cash equivalents ¥ 3,942 ¥ 3,942 ¥ 3,942 ¥ — ¥ — Time deposits 191 191 — 191 — Deposits with stock exchanges and other segregated cash 392 392 — 392 — Loans receivable (2) 2,336 2,336 — 1,436 900 Securities purchased under agreements to resell 12,064 12,064 — 12,046 18 Securities borrowed 3,502 3,502 — 3,502 — Total ¥ 22,427 ¥ 22,427 ¥ 3,942 ¥ 17,567 ¥ 918 Liabilities: Short-term borrowings ¥ 1,347 ¥ 1,347 ¥ — ¥ 1,273 ¥ 74 Deposits received at banks 1,181 1,181 — 1,180 1 Securities sold under agreements to repurchase 15,427 15,427 — 15,427 — Securities loaned 1,119 1,119 — 1,119 — Other secured borrowings 348 348 — 348 — Long-term borrowings 8,068 8,069 4 7,553 512 Total ¥ 27,490 ¥ 27,491 ¥ 4 ¥ 26,900 ¥ 587 (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) | 6 Months Ended |
Sep. 30, 2020 | |
Derivative Instruments and Hedging Activities [Abstract] | |
Significant concentration of exposures to credit risk in OTC derivatives | 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 Billions of yen September 30, 2020 Gross fair value of derivative assets Impact of master netting agreements Impact of collateral Net exposure to credit risk Financial institutions ¥ 14,731 ¥ (12,943 ) ¥ (1,526 ) ¥ 262 |
Volume of derivative activity in statement of financial position | 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 Billions of yen September 30, 2020 Derivative assets Derivative liabilities Total Notional (1) Fair value Fair value (1) Derivatives used for trading and non-trading (2)(3) Equity contracts ¥ 43,852 ¥ 1,233 ¥ 1,705 Interest rate contracts 2,725,124 11,902 11,536 Credit contracts 36,532 373 432 Foreign exchange contracts 243,294 3,542 3,499 Commodity contracts 373 1 8 Total ¥ 3,049,175 ¥ 17,051 ¥ 17,180 Derivatives designated as hedging instruments: Interest rate contracts ¥ 1,270 ¥ 36 ¥ 1 Foreign exchange contracts 121 0 1 Total ¥ 1,391 ¥ 36 ¥ 2 Total derivatives ¥ 3,050,566 ¥ 17,087 ¥ 17,182 (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, 2020 and September 30, 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, 2020 September 30, 2020 Derivative assets Derivative liabilities (1) Derivative assets Derivative liabilities (1) Equity contracts OTC settled bilaterally ¥ 869 ¥ 875 ¥ 770 ¥ 1,023 Exchange-traded 1,052 1,133 463 682 Interest rate contracts OTC settled bilaterally 11,881 11,438 10,434 10,060 OTC centrally-cleared 1,692 1,758 1,473 1,464 Exchange-traded 56 18 31 13 Credit contracts OTC settled bilaterally 278 311 182 241 OTC centrally-cleared 126 132 191 190 Exchange-traded 3 14 — 1 Foreign exchange contracts OTC settled bilaterally 5,224 5,105 3,542 3,500 Commodity contracts OTC settled bilaterally 1 1 0 0 Exchange-traded 8 5 1 8 Total gross derivative balances (2) ¥ 21,190 ¥ 20,790 ¥ 17,087 ¥ 17,182 Less: Amounts offset in the consolidated balance sheets (3) (19,248 ) (18,987 ) (15,997 ) (15,863 ) Total net amounts reported on the face of the consolidated balance sheets (4) ¥ 1,942 ¥ 1,803 ¥ 1,090 ¥ 1,319 Less: Additional amounts not offset in the consolidated balance sheets (5) Financial instruments and non-cash (182 ) (125 ) (140 ) (246 ) Net amount ¥ 1,760 ¥ 1,678 ¥ 950 ¥ 1,073 (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, 2020, 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 ¥1,013 billion and ¥1,046 billion, respectively. As of September 30, 2020, the gross balance of such derivative assets and derivative liabilities was ¥443 billion and ¥572 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, 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. As of September 30, 2020, Nomura offset a total of ¥1,592 billion of cash collateral receivables against net derivative liabilities and ¥1,726 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 and debt 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 six months ended September 30, 2019 and 2020 related to derivatives used for trading and non-trading Billions of yen Six months ended September 30 2019 2020 Derivatives used for trading and non-trading (1)(2) Equity contracts ¥ 45 ¥ 90 Interest rate contracts 72 176 Credit contracts (104 ) (85 ) Foreign exchange contracts (84 ) (52 ) Commodity contracts 2 (10 ) Total ¥ (69) ¥ 119 Billions of yen Three months ended September 30 2019 2020 Derivatives used for trading and non-trading (1)(2) Equity contracts ¥ 47 ¥ (47 ) Interest rate contracts 64 40 Credit contracts (85 ) (78 ) Foreign exchange contracts (78 ) 7 Commodity contracts (1 ) (5 ) Total ¥ (53 ) ¥ (83 ) (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 | Billions of yen Line items in the statement of financial position in which the hedged item is included: Carrying amount of the hedged Cumulative gains/(losses) of fair value March 31, 2020 September 30, 2020 March 31, 2020 September 30, 2020 Long-term borrowings ¥ 1,098 ¥ 1,301 ¥ (36 ) ¥ (33 ) Total ¥ 1,098 ¥ 1,301 ¥ (36 ) ¥ (33 ) |
Fair value hedges | Billions of yen Six months ended September 30 2019 2020 Derivatives designated as hedging instruments: Interest rate contracts ¥ (2 ) ¥ (1 ) Total ¥ (2 ) ¥ (1 ) Hedged items: Long-term borrowings ¥ 2 ¥ 1 Total ¥ 2 ¥ 1 Billions of yen Three months ended September 30 2019 2020 Derivatives designated as hedging instruments: Interest rate contracts ¥ (4 ) ¥ 1 Total ¥ (4 ) ¥ 1 Hedged items: Long-term borrowings ¥ 4 ¥ (1 ) Total ¥ 4 ¥ (1 ) |
Net investment hedges | Billions of yen Six months ended September 30 2019 2020 Hedging instruments: Foreign exchange contracts ¥ 3 ¥ (7 ) Total ¥ 3 ¥ (7 ) Billions of yen Three months ended September 30 2019 2020 Hedging instruments: Foreign exchange contracts ¥ 5 ¥ (5 ) Total ¥ 5 ¥ (5 ) (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, 2020 Maximum potential payout/Notional Notional Carrying value (Asset) / (1) Total Years to maturity Purchased credit protection 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 Billions of yen September 30, 2020 Maximum potential payout/Notional Notional Years to maturity Purchased credit protection Carrying value (Asset) / (1) Total Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Single-name credit default swaps ¥ (20 ) ¥ 7,366 ¥ 1,733 ¥ 2,210 ¥ 2,601 ¥ 822 ¥ 5,488 Credit default indices (138 ) 9,077 757 3,332 4,127 861 7,182 Other credit risk related portfolio products 37 384 27 149 189 19 270 Credit-risk related options and swaptions 0 6 — — — 6 6 Total ¥ (121 ) ¥ 16,833 ¥ 2,517 ¥ 5,691 ¥ 6,917 ¥ 1,708 ¥ 12,946 (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, 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 Billions of yen September 30, 2020 Maximum potential payout/Notional AAA AA A BBB BB Other (1) Total Single-name credit default swaps ¥ 176 ¥ 1,577 ¥ 1,895 ¥ 2,551 ¥ 875 ¥ 292 ¥ 7,366 Credit default indices 36 165 2,375 4,734 1,410 357 9,077 Other credit risk related portfolio products — — 2 219 52 111 384 Credit-risk related options and swaptions — — — — 6 — 6 Total ¥ 212 ¥ 1,742 ¥ 4,272 ¥ 7,504 ¥ 2,343 ¥ 760 ¥ 16,833 (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) | 6 Months Ended |
Sep. 30, 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 six and three months ended September 30, 2019 and September 30, 2020. Millions of yen Six months ended September 30 2019 2020 Commissions ¥ 133,454 ¥ 177,765 Fees from investment banking 49,576 37,859 Asset management and portfolio service fees 119,889 111,073 Other revenue 22,142 22,493 Total ¥ 325,061 ¥ 349,190 Millions of yen Three months ended September 30 2019 2020 Commissions ¥ 65,254 ¥ 92,253 Fees from investment banking 22,265 27,031 Asset management and portfolio service fees 59,926 57,417 Other revenue 11,401 10,689 Total ¥ 158,846 ¥ 187,390 |
Customer contract receivables, customer contract assets and customer contract liabilities | The following table presents the balances of customer contract receivables, customer contract assets and customer contract liabilities in scope of ASC 606 “ Revenue from Contracts with Customers Millions of yen March 31, 2020 September 30, 2020 Customer contract receivables ¥ 103,557 ¥ 74,331 Customer contract liabilities (1) 3,444 3,058 (1) Customer contract liabilities primarily represent rise from investment advisory services recognized in connection with the term of the contract based on time elapsed. |
Collateralized transactions (Ta
Collateralized transactions (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Collateralized Transactions | |
Offsetting of the transactions in the consolidated balance sheets | 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 Billions of yen September 30, 2020 Assets Liabilities Reverse repurchase agreements Securities borrowing transactions Repurchase agreements Securities lending transactions Total gross balance (1) ¥ 28,123 ¥ 3,485 ¥ 31,487 ¥ 1,436 Less: Amounts offset in the consolidated balance sheets (2) (16,059 ) — (16,060 ) — Total net amounts of reported on the face of the consolidated balance sheets (3) ¥ 12,064 ¥ 3,485 ¥ 15,427 ¥ 1,436 Less: Additional amounts not offset in the consolidated balance sheets (4) Financial instruments and non-cash (10,797 ) (2,431 ) (12,666 ) (1,114 ) Cash collateral (1 ) — (32 ) — Net amount ¥ 1,266 ¥ 1,054 ¥ 2,729 ¥ 322 (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, 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. As of September 30, 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 ¥474 billion and ¥2,356 billion, respectively. As of September 30, 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 ¥958 billion and ¥226 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 |
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 Billions of yen September 30, 2020 Overnight and open (1) Up to 30 days 30 – 90 days 90 days – Greater than 1 year Total Repurchase agreements ¥ 13,324 ¥ 14,969 ¥ 1,663 ¥ 1,306 ¥ 225 ¥ 31,487 Securities lending transactions 796 196 262 182 — 1,436 Total gross recognized liabilities (2) ¥ 14,120 ¥ 15,165 ¥ 1,925 ¥ 1,488 ¥ 225 ¥ 32,923 (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 Securities 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 Billions of yen September 30, 2020 Repurchase agreements Securities lending transactions Total Equities and convertible securities ¥ 1,203 ¥ 1,182 ¥ 2,385 Japanese government, agency and municipal securities 764 — 764 Foreign government, agency and municipal securities 24,317 59 24,376 Bank and corporate debt securities 1,942 142 2,084 Commercial mortgage-backed securities (“CMBS”) 21 — 21 Residential mortgage-backed securities (“RMBS”) (1) 3,073 — 3,073 Collateralized debt obligations (“CDOs”) and other 154 — 154 Investment trust funds and other 13 53 66 Total gross recognized liabilities (2) ¥ 31,487 ¥ 1,436 ¥ 32,923 (1) Includes ¥ 4,021 (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, 2020 September 30, 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 ¥ 46,439 ¥ 41,964 The portion of the above that has been sold (reported within Trading liabilities 38,054 32,866 |
Assets owned, pledged as collateral | Millions of yen March 31, September 30, 2020 Trading assets: Equities and convertible securities ¥ 133,066 ¥ 114,372 Government and government agency securities 1,183,457 1,230,309 Bank and corporate debt securities 59,734 18,283 Residential mortgage-backed securities (“RMBS”) 2,826,613 2,097,411 Collateralized debt obligations (“CDOs”) and other (1) 12,406 10,729 Investment trust funds and other 6,439 12,671 ¥ 4,221,715 ¥ 3,483,775 Non-trading ¥ 29 ¥ 121,598 Investments in and advances to affiliated companies ¥ 2,760 ¥ 3,871 (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, 2020 September 30, 2020 Loans and receivables ¥ 55,051 ¥ 67,212 Trading assets and private equity and debt 1,393,517 1,453,189 Office buildings, land, equipment and facilities 5,258 5,195 Non-trading 149,991 2,080 Other 77 124 ¥ 1,603,894 ¥ 1,527,800 |
Securitizations and Variable _2
Securitizations and Variable Interest Entities (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Securitizations and Variable Interest Entities [Abstract] | |
Fair value of retained interests | Billions of yen March 31, 2020 Level 1 Level 2 Level 3 Total Investment 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 Billions of yen September 30, 2020 Level 1 Level 2 Level 3 Total Investment Other Government, agency and municipal securities ¥ — ¥ 111 ¥ — ¥ 111 ¥ 111 ¥ — Bank and corporate debt securities — — — — — — CMBS and RMBS — — 5 5 0 5 Total ¥ — ¥ 111 ¥ 5 ¥ 116 ¥ 111 ¥ 5 |
Type and carrying value of financial assets | Billions of yen March 31, 2020 September 30, 2020 Assets Trading assets Loans ¥ 45 ¥ 58 Liabilities Long-term borrowings ¥ 45 ¥ 58 |
Classification of consolidated VIEs' assets and liabilities | Billions of yen March 31, 2020 September 30, 2020 Consolidated VIE assets Cash and cash equivalents ¥ 10 ¥ 8 Trading assets Equities 645 602 Debt securities 454 468 CMBS and RMBS 43 20 Investment trust funds and other 0 9 Derivatives 19 16 Private equity and debt investments 11 20 Office buildings, land, equipment and facilities 15 36 Other 24 20 Total ¥ 1,221 ¥ 1,199 Consolidated VIE liabilities Trading liabilities Derivatives ¥ 19 ¥ 17 Borrowings Short-term borrowings 117 113 Long-term borrowings 830 811 Other 4 2 Total ¥ 970 ¥ 943 |
Carrying amount of assets and liabilities of unconsolidated VIEs | 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 Billions of yen September 30, 2020 Carrying amount of variable interests Maximum exposure to loss to unconsolidated VIEs Assets Liabilities Trading assets and liabilities Equities ¥ 38 ¥ — ¥ 38 Debt securities 57 — 57 CMBS and RMBS 2,973 — 2,973 Investment trust funds and other 209 — 209 Private equity and debt investments 15 — 15 Loans 415 — 415 Other 12 — 12 Commitments to extend credit and other guarantees — — 86 Total ¥ 3,719 ¥ — ¥ 3,805 |
Financing receivables (Tables)
Financing receivables (Tables) | 6 Months Ended |
Sep. 30, 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, 2020 Carried at Carried at (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 Millions of yen September 30, 2020 Carried at Carried at (1) Total Loans receivable Loans at banks ¥ 527,767 ¥ — ¥ 527,767 Short-term secured margin loans 340,175 18,255 358,430 Inter-bank money market loans 1,382 — 1,382 Corporate loans 670,441 786,060 1,456,501 Total loans receivable ¥ 1,539,765 ¥ 804,315 ¥ 2,344,080 (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 Six months ended September 30, 2019 Allowance for credit losses against loans Loans Short-term margin loans Corporate Subtotal Allowance for receivables other than loans Total Opening balance ¥ 1,052 ¥ 370 ¥ 868 ¥ 2,290 ¥ 1,879 ¥ 4,169 Provision for credit losses 127 — 1,629 1,756 117 1,873 Charge-offs — — — — (4 ) (4 ) Other (1) — 4 (35 ) (31 ) (8 ) (39 ) Ending balance ¥ 1,179 ¥ 374 ¥ 2,462 ¥ 4,015 ¥ 1,984 ¥ 5,999 Millions of yen Three months ended September 30, 2019 Allowance for credit losses against loans Allowance for Total Loans Short-term Corporate Subtotal Opening balance ¥ 1,052 ¥ 373 ¥ 844 ¥ 2,269 ¥ 1,914 ¥ 4,183 Provision for credit losses 127 — 1,629 1,756 74 1,830 Charge-offs — — — — (3 ) (3 ) Other (1) — 1 (11 ) (10 ) (1 ) (11 ) Ending balance ¥ 1,179 ¥ 374 ¥ 2,462 ¥ 4,015 ¥ 1,984 ¥ 5,999 (1) Includes the effect of foreign exchange movements. Millions of yen Six months ended September 30, 2020 Allowance for current expected credit losses Allowance for receivables other than loans (2) Total Loans at banks Short-term Corporate Subtotal Opening balance prior to CECL adoption ¥ 1,564 ¥ 352 ¥ 7,944 ¥ 9,860 ¥ 3,152 ¥ 13,012 Impact of CECL adoption (1) 232 — 1,738 1,970 2 1,972 Opening balance after CECL adoption 1,796 352 9,682 11,830 3,154 14,984 Provision for credit losses (232 ) — (2,244 ) (2,476 ) 1,075 (1,401 ) Charge-offs (318 ) (359 ) 0 (677 ) (1,315 ) (1,992 ) Other (3) — 7 (225 ) (218 ) (17 ) (235 ) Ending balance ¥ 1,246 ¥ — ¥ 7,213 ¥ 8,459 ¥ 2,897 ¥ 11,356 Millions of yen Three months ended September 30, 2020 Allowance for current expected credit losses Allowance for receivables other than loans (2) Total allowance for doubtful accounts Loans at banks Short-term Corporate Subtotal Opening balance 1,454 292 7,727 9,473 2,881 12,354 Provision for losses 110 76 (392 ) (206 ) 31 (175 ) Charge-offs (318 ) (359 ) 0 (677 ) 7 (670 ) Other (3) — (9 ) (122 ) (131 ) (22 ) (153 ) Ending balance ¥ 1,246 ¥ — ¥ 7,213 ¥ 8,459 ¥ 2,897 ¥ 11,356 (1) The balance recognized on April 1, 2020 on adoption of ASC 326. (2) Includes collateralized agreements, customer contract assets and receivables and other receivables. (3) Includes the effect of foreign exchange movements. |
Analysis of each class of loans not carried at fair value using internal ratings or equivalent credit quality indicators | Millions of yen September 30, 2020 2020 2019 2018 2017 2016 2015 or Revolving Total Secured loans at banks: AAA-BBB ¥ 106,020 ¥ 31,372 ¥ 12,902 ¥ 4,309 ¥ 4,707 ¥ 11,192 ¥ 682 ¥ 171,184 BB-CCC 147,268 25,390 2,388 — 768 9,608 31 185,453 CC-D — — — — — — — — Others (1) 54,135 — — — — — — 54,135 Total secured loans at banks ¥ 307,423 ¥ 56,762 ¥ 15,290 ¥ 4,309 ¥ 5,475 ¥ 20,800 ¥ 713 ¥ 410,772 Unsecured loans at banks: AAA-BBB ¥ 16,179 ¥ 30,941 ¥ 20,957 ¥ 9,673 ¥ 22,947 ¥ 7,555 ¥ 7,299 ¥ 115,551 BB-CCC — 244 — — 1,200 — — 1,444 CC-D — — — — — — — — Others (1) — — — — — — — — Total unsecured loans at banks ¥ 16,179 ¥ 31,185 ¥ 20,957 ¥ 9,673 ¥ 24,147 ¥ 7,555 ¥ 7,299 ¥ 116,995 Short-term secured margin loans: AAA-BBB ¥ — ¥ — ¥ — ¥ — ¥ — ¥ — ¥ — ¥ — BB-CCC — — — — — — — — CC-D — — — — — — — — Others (1) 143,295 136 — — — — 196,744 340,175 Total short-term secured margin loans ¥ 143,295 ¥ 136 ¥ — ¥ — ¥ — ¥ — ¥ 196,744 ¥ 340,175 Unsecured inter-bank money market loans: AAA-BBB ¥ 1,382 ¥ — ¥ — ¥ — ¥ — ¥ — ¥ — ¥ 1,382 BB-CCC — — — — — — — — CC-D — — — — — — — — Others (1) — — — — — — — — Total unsecured inter-bank money market loans ¥ 1,382 ¥ — ¥ — ¥ — ¥ — ¥ — ¥ — ¥ 1,382 Secured corporate loans: AAA-BBB ¥ 35,342 ¥ 107,155 ¥ 10,054 ¥ 6,774 ¥ 1,247 ¥ 22,805 ¥ — ¥ 183,377 BB-CCC 34,429 49,151 79,001 17,087 8,885 9,094 205,008 402,655 CC-D — — — — — — — — Others (1) 8 33 12 29 4,179 88 517 4,866 Total secured corporate loans ¥ 69,779 ¥ 156,339 ¥ 89,067 ¥ 23,890 ¥ 14,311 ¥ 31,987 ¥ 205,525 ¥ 590,898 Millions of yen September 30, 2020 2020 2019 2018 2017 2016 2015 or Revolving Total Unsecured corporate loans: AAA-BBB ¥ 6,537 ¥ — ¥ — ¥ — ¥ — ¥ — ¥ — ¥ 6,537 BB-CCC — 3,917 — — — 31 — 3,948 CC-D — — — — — — — — Others (1) 202 47 68,796 — — 13 — 69,058 Total unsecured corporate loans ¥ 6,739 ¥ 3,964 ¥ 68,796 ¥ — ¥ — ¥ 44 ¥ — ¥ 79,543 Total ¥ 544,797 ¥ 248,386 ¥ 194,110 ¥ 37,872 ¥ 43,933 ¥ 60,386 ¥ 410,281 ¥ 1,539,765 (1) Relate to collateralized exposures where a specified ratio of LTV is maintained. |
Leases (Tables)
Leases (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Leases [Abstract] | |
Types of assets which Nomura leases under operating leases | Millions of yen March 31, 2020 September 30, 2020 Cost Accumulated depreciation Net carrying amount Cost Accumulated depreciation Net carrying amount Real estate (1) ¥ 354 ¥ (285 ) ¥ 69 ¥ 354 ¥ (287 ) ¥ 67 Aircraft 16,071 (648 ) 15,423 25,373 (948 ) 24,425 Total ¥ 16,425 ¥ (933 ) ¥ 15,492 ¥ 25,727 ¥ (1,235 ) ¥ 24,492 (1) Cost, accumulated depreciation and net carrying amounts include amounts relating to real estate utilized by Nomura. |
Schedule of Lessee operating lease liability maturity | Millions of yen September 30, 2020 Minimum lease payments to be received Years of receipt Less than 1 year ¥ 2,130 1 to 2 years 2,124 2 to 3 years 2,064 3 to 4 years 2,064 4 to 5 years 2,064 More than 5 years 12,738 Total ¥ 23,184 |
Other assets-Other _ Other li_2
Other assets-Other / Other liabilities (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Other assets-Other / Other liabilities [Abstract] | |
Schedule of Other assets-Other and Other liabilities | Millions of yen March 31, 2020 September 30, 2020 Other assets—Other: Securities received as collateral ¥ 290,269 ¥ 316,631 Goodwill and other intangible assets (1) 17,783 28,864 Deferred tax assets 13,431 17,583 Investments in equity securities for other than operating purposes (2) 141,855 222,516 Prepaid expenses 16,262 19,727 Other 347,422 309,820 Total ¥ 827,022 ¥ 915,141 Other liabilities: Obligation to return securities received as collateral ¥ 290,269 ¥ 316,631 Accrued income taxes 16,362 21,081 Other accrued expenses 396,560 360,813 Other (3) 331,257 350,940 Total ¥ 1,034,448 ¥ 1,049,465 (1) For the six months ended September 30, 2020, Nomura recognized goodwill attributable to the Wholesale segment as a result of acquiring 100% of the ownership interests in Greentech Capital, LLC. See Note.9 “ Business combination“ (2) Includes equity securities without readily determinable fair value of ¥65,365 million as of September 30, 2020. (3) Includes operating lease liabilities. |
Earnings per share (Tables)
Earnings per share (Tables) | 6 Months Ended |
Sep. 30, 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 Six months ended September 30 2019 2020 Basic— Net income attributable to NHI shareholders ¥ 194,407 ¥ 210,158 Weighted average number of shares outstanding 3,301,269,085 3,051,543,718 Net income attributable to NHI shareholders per share ¥ 58.89 ¥ 68.87 Diluted— Net income attributable to NHI shareholders ¥ 194,363 ¥ 210,117 Weighted average number of shares outstanding 3,370,803,851 3,131,423,608 Net income attributable to NHI shareholders per share ¥ 57.66 ¥ 67.10 Millions of yen except per share data presented in yen Three months ended September 30 2019 2020 Basic— Net income attributable to NHI shareholders ¥ 138,574 ¥ 67,642 Weighted average number of shares outstanding 3,290,622,990 3,056,897,704 Net income attributable to NHI shareholders per share ¥ 42.11 ¥ 22.13 Diluted— Net income attributable to NHI shareholders ¥ 138,548 ¥ 67,625 Weighted average number of shares outstanding 3,360,616,509 3,143,092,237 Net income attributable to NHI shareholders per share ¥ 41.23 ¥ 21.52 |
Employee benefit plans (Tables)
Employee benefit plans (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Employee Benefit Plans [Abstract] | |
Net periodic benefit cost for defined benefit plans | Millions of yen Six months ended September 30 2019 2020 Service cost ¥ 6,057 ¥ 3,361 Interest cost 906 893 Expected return on plan assets (3,019 ) (2,913 ) Amortization of net actuarial losses 2,647 2,759 Amortization of prior service cost (528 ) (761 ) Net periodic benefit cost ¥ 6,063 ¥ 3,339 Millions of yen Three months ended September 30 2019 2020 Service cost ¥ 3,021 ¥ 1,681 Interest cost 453 447 Expected return on plan assets (1,510 ) (1,457 ) Amortization of net actuarial losses 1,323 1,379 Amortization of prior service cost (264 ) (381 ) Net periodic benefit cost ¥ 3,023 ¥ 1,669 |
Other comprehensive income (l_2
Other comprehensive income (loss) (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Accumulated Other Comprehensive Income (loss) | |
Changes in accumulated other comprehensive income (loss) | Changes in accumulated other comprehensive income (loss) are as follows: Millions of yen Six months ended September 30, 2019 Balance at beginning of year Other comprehensive income (loss) before reclassifications Reclassifications out of accumulated other comprehensive income (loss) (1) Net change during the period Balance at end of period Cumulative translation adjustments ¥ 17,833 ¥ (39,259 ) ¥ 624 ¥ (38,635 ) ¥ (20,802 ) Pension liability adjustment (71,107 ) 1,635 2,282 3,917 (67,190 ) Own credit adjustments 24,224 (2,816 ) (859 ) (3,675 ) 20,549 Total ¥ (29,050 ) ¥ (40,440 ) ¥ 2,047 ¥ (38,393 ) ¥ (67,443 ) (1) Reclassifications out of accumulated other comprehensive income (loss) were not significant. Millions of yen Six months ended September 30, 2020 Balance at beginning of year Other comprehensive income (loss) before reclassifications Reclassifications out of accumulated other comprehensive income (loss) (1) Net change during the period Balance at end of period Cumulative translation adjustments ¥ (26,274 ) ¥ (18,395 ) ¥ (1,812 ) ¥ (20,207 ) ¥ (46,481 ) Pension liability adjustment (62,571 ) 1,051 2,339 3,390 (59,181 ) Own credit adjustments 62,740 (35,083 ) (10,701 ) (45,784 ) 16,956 Total ¥ (26,105 ) ¥ (52,427 ) ¥ (10,174 ) ¥ (62,601 ) ¥ (88,706 ) (1) Change in own credit adjustments, net of tax in other comprehensive income (loss) for six months ended September 30, 2020 includes reclassification adjustment of ¥12,846 million recognized in Revenue—Net gain on trading Income tax expense Fair value measurements Millions of yen Three months ended September 30, 2019 Balance at beginning of period Other comprehensive income (loss) before reclassifications Reclassifications out of accumulated other comprehensive income (loss) (1) Net change during the period Balance at end of period Cumulative translation adjustments ¥ (13,843 ) ¥ (7,567 ) ¥ 608 ¥ (6,959 ) ¥ (20,802 ) Pension liability adjustment (68,860 ) 119 1,551 1,670 (67,190 ) Own credit adjustments 22,248 (1,663 ) (36 ) (1,699 ) 20,549 Total ¥ (60,455 ) ¥ (9,111 ) ¥ 2,123 ¥ (6,988 ) ¥ (67,443 ) (1) Reclassifications out of accumulated other comprehensive income (loss) were not significant. Millions of yen Three months ended September 30, 2020 Balance at beginning of period Other comprehensive income (loss) before reclassifications Reclassifications out of accumulated other comprehensive income (loss) (1) Net change during the period Balance at end of period Cumulative translation adjustments ¥ (26,958 ) ¥ (17,731 ) ¥ (1,792 ) ¥ (19,523 ) ¥ (46,481 ) Pension liability adjustment (60,263 ) (277 ) 1,359 1,082 (59,181 ) Own credit adjustments 61,248 (42,841 ) (1,451 ) (44,292 ) 16,956 Total ¥ (25,973 ) ¥ (60,849 ) ¥ (1,884 ) ¥ (62,733 ) ¥ (88,706 ) (1) Reclassifications out of accumulated other comprehensive income (loss) were not significant. |
Commitments, contingencies an_2
Commitments, contingencies and guarantees (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Commitments, Contingencies and Guarantees [Abstract] | |
Commitments outstanding | Millions of yen March 31, 2020 September 30, 2020 Commitments to extend credit Liquidity facilities to central clearing counterparties ¥ 1,288,774 ¥ 955,800 Other commitments to extend credit 958,659 971,078 Total ¥ 2,247,433 ¥ 1,926,878 Commitments to invest ¥ 15,278 ¥ 26,744 |
Maturity schedule of commitments | Millions of yen Years to Maturity Total contractual amount 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 ¥ 955,800 ¥ 955,800 ¥ — ¥ — ¥ — Other commitments to extend credit 971,078 121,108 156,468 207,002 486,500 Total ¥ 1,926,878 ¥ 1,076,908 ¥ 156,468 ¥ 207,002 ¥ 486,500 Commitments to invest ¥ 26,744 ¥ 1,885 ¥ 2,068 ¥ 4,878 ¥ 17,913 |
Information on derivative contracts and standby letters of credit and other guarantees | Millions of yen March 31, 2020 September 30, 2020 Carrying value Maximum Potential Payout/ Notional Total Carrying value Maximum Potential Payout/ Notional Total Derivative contracts (1)(2) ¥ 7,197,647 ¥ 279,734,884 ¥ 5,736,546 ¥ 256,731,733 Standby letters of credit and other guarantees — 2,351 — 14,592 (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 ¥ 5,736,546 ¥ 256,731,733 ¥ 62,259,465 ¥ 62,506,586 ¥ 34,342,738 ¥ 97,622,944 Standby letters of credit and other guarantees — 14,592 988 12,086 109 1,409 |
Segment and geographic inform_2
Segment and geographic information (Tables) | 6 Months Ended |
Sep. 30, 2020 | |
Segment and Geographic Information [Abstract] | |
Business segments' results | Millions of yen Retail Asset Management Wholesale Other (Incl. elimination) Total Six months ended September 30, 2019 Non-interest ¥ 154,373 ¥ 61,597 ¥ 271,558 ¥ 184,486 ¥ 672,014 Net interest revenue 3,149 (1,421 ) 44,626 (902 ) 45,452 Net revenue 157,522 60,176 316,184 183,584 717,466 Non-interest 144,143 31,988 277,256 58,702 512,089 Income before income taxes ¥ 13,379 ¥ 28,188 ¥ 38,928 ¥ 124,882 ¥ 205,377 Six months ended September 30, 2020 Non-interest ¥ 172,676 ¥ 61,487 ¥ 376,148 ¥ 129,786 ¥ 740,097 Net interest revenue 1,197 (621 ) 92,826 (8,011 ) 85,391 Net revenue 173,873 60,866 468,974 121,775 825,488 Non-interest 135,979 30,312 315,628 82,388 564,307 Income before income taxes ¥ 37,894 ¥ 30,554 ¥ 153,346 ¥ 39,387 ¥ 261,181 Millions of yen Retail Asset Management Wholesale Other (Incl. elimination) Total Three months ended September 30, 2019 Non-interest ¥ 75,350 ¥ 26,384 ¥ 134,934 ¥ 120,526 ¥ 357,194 Net interest revenue 1,532 (708 ) 21,764 2,769 25,357 Net revenue 76,882 25,676 156,698 123,295 382,551 Non-interest 71,621 15,630 137,777 29,866 254,894 Income before income taxes ¥ 5,261 ¥ 10,046 ¥ 18,921 ¥ 93,429 ¥ 127,657 Three months ended September 30, 2020 Non-interest ¥ 92,331 ¥ 27,132 ¥ 185,601 ¥ 29,829 ¥ 334,893 Net interest revenue 464 (290 ) 34,704 (2,727 ) 32,151 Net revenue 92,795 26,842 220,305 27,102 367,044 Non-interest 69,970 15,442 154,828 45,131 285,371 Income (loss) before income taxes ¥ 22,825 ¥ 11,400 ¥ 65,477 ¥ (18,029 ) ¥ 81,673 |
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 Six months ended September 30 2019 2020 Net gain related to economic hedging transactions ¥ 19,837 ¥ 612 Realized gain on investments in equity securities held for operating purposes 1,330 809 Equity in earnings of affiliates 16,274 11,860 Corporate items (1) (3,244 ) 29,085 Other (2)(3) 90,685 (2,979 ) Total ¥ 124,882 ¥ 39,387 Millions of yen Three months ended September 30 2019 2020 Net gain (loss) related to economic hedging transactions ¥ 7,043 ¥ (4,965 ) Realized gain on investments in equity securities held for operating purposes 1,254 124 Equity in earnings of affiliates 8,009 5,251 Corporate items (4,635 ) (16,005 ) Other (2)(3) 81,758 (2,434 ) Total ¥ 93,429 ¥ (18,029 ) (1) The income before income taxes for the six months ended September 30, 2020 includes a gain of ¥ 71,075 million which represents the difference between the fair value of the assets acquired and the carrying value of the assets transferred by Nomura as a result of the rights conversion of the Tokyo Nihonbashi district redevelopment project. (2) The income before income taxes for the six months and three months ended September 30, 2019 includes gain of ¥73,293 million from the sale of Nomura Research Institute, Ltd. ordinary shares. (3) Includes the impact of Nomura’s own creditworthiness. |
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 Six months ended September 30 2019 2020 Net revenue ¥ 717,466 ¥ 825,488 Unrealized gain (loss) on investments in equity securities held for operating purposes (2,085 ) 4,257 Consolidated net revenue ¥ 715,381 ¥ 829,745 Non-interest ¥ 512,089 ¥ 564,307 Unrealized gain on investments in equity securities held for operating purposes — — Consolidated non-interest ¥ 512,089 ¥ 564,307 Income before income taxes ¥ 205,377 ¥ 261,181 Unrealized gain (loss) on investments in equity securities held for operating purposes (2,085 ) 4,257 Consolidated income before income taxes ¥ 203,292 ¥ 265,438 Millions of yen Three months ended September 30 2019 2020 Net revenue ¥ 382,551 ¥ 367,044 Unrealized gain on investments in equity securities held for operating purposes 829 1,954 Consolidated net revenue ¥ 383,380 ¥ 368,998 Non-interest ¥ 254,894 ¥ 285,371 Unrealized gain on investments in equity securities held for operating purposes — — Consolidated non-interest ¥ 254,894 ¥ 285,371 Income before income taxes ¥ 127,657 ¥ 81,673 Unrealized gain on investments in equity securities held for operating purposes 829 1,954 Consolidated income before income taxes ¥ 128,486 ¥ 83,627 |
Geographic allocation of net revenue and income (loss) before income taxes from operations by geographic areas, and long-lived assets | Millions of yen Six months ended September 30 2019 2020 Net revenue (1) Americas ¥ 125,274 ¥ 222,091 Europe 60,921 59,681 Asia and Oceania 33,257 27,605 Subtotal 219,452 309,377 Japan 495,929 520,368 Consolidated ¥ 715,381 ¥ 829,745 Income (loss) before income taxes: Americas ¥ 15,409 ¥ 79,157 Europe 3,039 6,580 Asia and Oceania 22,172 21,915 Subtotal 40,620 107,652 Japan 162,672 157,786 Consolidated ¥ 203,292 ¥ 265,438 Millions of yen Three months ended September 30 2019 2020 Net revenue (1) Americas ¥ 52,735 ¥ 112,903 Europe 30,091 39,510 Asia and Oceania 16,441 17,369 Subtotal 99,267 169,782 Japan 284,113 199,216 Consolidated ¥ 383,380 ¥ 368,998 Income (loss) before income taxes: Americas ¥ 1,143 ¥ 39,159 Europe (1,490 ) (8,437 ) Asia and Oceania 10,530 12,720 Subtotal 10,183 43,442 Japan 118,303 40,185 Consolidated ¥ 128,486 ¥ 83,627 (1) There is no revenue derived from transactions with a single major external customer. Millions of yen March 31, 2020 September 30, 2020 Long-lived assets: Americas ¥ 84,904 ¥ 93,175 Europe 52,179 61,857 Asia and Oceania 29,618 28,016 Subtotal 166,701 183,048 Japan 292,212 312,610 Consolidated ¥ 458,913 ¥ 495,658 |
Summary of accounting policie_2
Summary of accounting policies - Additional information (Detail) ¥ in Millions | Apr. 01, 2020JPY (¥) | Sep. 30, 2020JPY (¥)Segment | Mar. 31, 2020JPY (¥) |
Accounting Policy [Line Items] | |||
Number of business segments | Segment | 3 | ||
Retained earnings | ¥ 1,775,691 | ¥ 1,645,451 | |
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 | ||
Loans receivable | (9,774) | ||
Loan commitment | 5,888 | ||
Retained earnings | (15,662) | ||
Accounting Standards Update 2016-13 [Member] | Revision of Prior Period, Change in Accounting Principle, Adjustment [Member] | |||
Accounting Policy [Line Items] | |||
Retained earnings | ¥ (2,538) |
Fair value measurements - Fair
Fair value measurements - Fair value of financial instruments measured on recurring basis (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 | |||
Assets: | |||||
Derivative assets | ¥ 17,087,000 | ¥ 21,190,000 | |||
Netting | [1] | (15,997,000) | (19,248,000) | ||
Collateralized agreements | 15,565,948 | 15,907,112 | |||
Other assets | 915,141 | 827,022 | |||
Liabilities: | |||||
Derivative liabilities | [2] | 17,182,000 | 20,790,000 | ||
Netting | [1],[2] | (15,863,000) | (18,987,000) | ||
Short-term borrowings | 587,622 | 376,910 | |||
Collateralized financing | 16,895,055 | 18,028,339 | |||
Long-term borrowings | 4,030,791 | 3,707,643 | |||
Recurring [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 15,460,000 | 14,930,000 | ||
Derivative assets | [4] | 1,090,000 | 1,942,000 | ||
Netting | [5] | (15,997,000) | (19,248,000) | ||
Subtotal, Assets | 16,550,000 | 16,872,000 | [4] | ||
Loans and receivables | 897,000 | [6] | 805,000 | [7] | |
Collateralized agreements | 321,000 | [8] | 549,000 | [9] | |
Other assets | [3],[10] | 579,000 | |||
Total Assets | 18,759,000 | 19,247,000 | |||
Liabilities: | |||||
Trading liabilities | 7,466,000 | 6,737,000 | |||
Derivative liabilities | [4] | 1,323,000 | 1,809,000 | ||
Netting | (15,863,000) | [4] | (18,987,000) | [5] | |
Subtotal, Liabilities | 8,789,000 | 8,546,000 | |||
Short-term borrowings | [11] | 588,000 | 377,000 | ||
Payables and deposits | [12] | 32,000 | 15,000 | ||
Collateralized financing | 219,000 | [8] | 247,000 | [9] | |
Long-term borrowings | [11],[13],[14] | 4,029,000 | 3,702,000 | ||
Other liabilities | [15] | 341,000 | 299,000 | ||
Total Liabilities | 13,998,000 | 13,186,000 | |||
Recurring [Member] | Equities [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 2,646,000 | [10] | 2,115,000 | [16] |
Liabilities: | |||||
Trading liabilities | 1,921,000 | 1,564,000 | |||
Recurring [Member] | Private equity and debt investments [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3],[17] | 49,000 | 38,000 | ||
Recurring [Member] | Japanese government securities [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 2,043,000 | 1,826,000 | ||
Liabilities: | |||||
Trading liabilities | 935,000 | 1,108,000 | |||
Recurring [Member] | Japanese agency and municipal securities [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 79,000 | 108,000 | ||
Liabilities: | |||||
Trading liabilities | 0 | 0 | |||
Recurring [Member] | Foreign government, agency and municipal securities [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 5,910,000 | 5,265,000 | ||
Liabilities: | |||||
Trading liabilities | 4,273,000 | 3,230,000 | |||
Recurring [Member] | Bank and corporate debt securities and loans for trading purposes [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 1,263,000 | 1,494,000 | ||
Recurring [Member] | Bank and corporate debt securities [Member] | |||||
Liabilities: | |||||
Trading liabilities | 200,000 | 273,000 | |||
Recurring [Member] | Commercial mortgage-backed securities ("CMBS") [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 2,000 | 1,000 | ||
Recurring [Member] | Residential mortgage-backed securities ("RMBS") [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 3,024,000 | 3,688,000 | ||
Liabilities: | |||||
Trading liabilities | 5,000 | 3,000 | |||
Recurring [Member] | Residential mortgage-backed securities ("RMBS") [Member] | Issued/Guaranteed by government sponsored entity [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 2,946,000 | 3,616,000 | ||
Recurring [Member] | Residential mortgage-backed securities ("RMBS") [Member] | Other [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 78,000 | 72,000 | ||
Recurring [Member] | Real estate-backed securities [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 62,000 | 94,000 | ||
Recurring [Member] | Collateralized debt obligations ("CDOs") and other [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 39,000 | [18] | 53,000 | [19] |
Liabilities: | |||||
Trading liabilities | 3,000 | 2,000 | [19] | ||
Recurring [Member] | Investment trust funds and other [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 343,000 | 248,000 | ||
Liabilities: | |||||
Trading liabilities | 129,000 | 557,000 | |||
Recurring [Member] | Equity contracts [Member] | |||||
Assets: | |||||
Derivative assets | [4] | 1,233,000 | 1,921,000 | ||
Liabilities: | |||||
Derivative liabilities | [4] | 1,705,000 | 2,008,000 | ||
Recurring [Member] | Interest rate contracts [Member] | |||||
Assets: | |||||
Derivative assets | [4] | 11,938,000 | 13,629,000 | ||
Liabilities: | |||||
Derivative liabilities | [4] | 11,541,000 | 13,220,000 | ||
Recurring [Member] | Credit contracts [Member] | |||||
Assets: | |||||
Derivative assets | [4] | 373,000 | 407,000 | ||
Liabilities: | |||||
Derivative liabilities | [4] | 432,000 | 457,000 | ||
Recurring [Member] | Foreign exchange contracts [Member] | |||||
Assets: | |||||
Derivative assets | [4] | 3,542,000 | 5,224,000 | ||
Liabilities: | |||||
Derivative liabilities | [4] | 3,500,000 | 5,105,000 | ||
Recurring [Member] | Commodity contracts [Member] | |||||
Assets: | |||||
Derivative assets | [4] | 1,000 | 9,000 | ||
Liabilities: | |||||
Derivative liabilities | [4] | 8,000 | 6,000 | ||
Recurring [Member] | Non-trading debt securities [Member] | |||||
Assets: | |||||
Other assets | 412,000 | 455,000 | |||
Recurring [Member] | Other [Member] | |||||
Assets: | |||||
Other assets | [3],[16] | 566,000 | |||
Recurring [Member] | Counterparty and Cash Collateral Netting [Member] | |||||
Assets: | |||||
Derivative assets | [5] | (15,997,000) | (19,248,000) | ||
Netting | [5] | (15,997,000) | (19,248,000) | ||
Subtotal, Assets | [5] | (15,997,000) | (19,248,000) | ||
Total Assets | [5] | (15,997,000) | (19,248,000) | ||
Liabilities: | |||||
Derivative liabilities | (15,863,000) | [4] | (18,987,000) | [5] | |
Netting | (15,863,000) | [4] | (18,987,000) | [5] | |
Subtotal, Liabilities | (15,863,000) | (18,987,000) | |||
Total Liabilities | (15,863,000) | (18,987,000) | |||
Recurring [Member] | Level 1 [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 7,822,000 | 6,480,000 | ||
Derivative assets | [4] | 32,000 | 71,000 | ||
Subtotal, Assets | 7,854,000 | 6,551,000 | [4] | ||
Other assets | [3],[10] | 303,000 | |||
Total Assets | 8,262,000 | 6,926,000 | |||
Liabilities: | |||||
Trading liabilities | 5,948,000 | 5,045,000 | |||
Derivative liabilities | [4] | 23,000 | 44,000 | ||
Subtotal, Liabilities | 5,971,000 | 5,089,000 | |||
Long-term borrowings | [11],[13],[14] | 4,000 | 2,000 | ||
Other liabilities | [15] | 219,000 | 170,000 | ||
Total Liabilities | 6,194,000 | 5,261,000 | |||
Recurring [Member] | Level 1 [Member] | Equities [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 1,800,000 | [10] | 1,193,000 | [16] |
Liabilities: | |||||
Trading liabilities | 1,746,000 | 1,412,000 | |||
Recurring [Member] | Level 1 [Member] | Japanese government securities [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 2,043,000 | 1,826,000 | ||
Liabilities: | |||||
Trading liabilities | 935,000 | 1,108,000 | |||
Recurring [Member] | Level 1 [Member] | Foreign government, agency and municipal securities [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 3,660,000 | 3,257,000 | ||
Liabilities: | |||||
Trading liabilities | 3,138,000 | 2,116,000 | |||
Recurring [Member] | Level 1 [Member] | Investment trust funds and other [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 319,000 | 204,000 | ||
Liabilities: | |||||
Trading liabilities | 129,000 | 409,000 | |||
Recurring [Member] | Level 1 [Member] | Equity contracts [Member] | |||||
Assets: | |||||
Derivative assets | [4] | 0 | 4,000 | ||
Liabilities: | |||||
Derivative liabilities | [4] | 1,000 | 7,000 | ||
Recurring [Member] | Level 1 [Member] | Interest rate contracts [Member] | |||||
Assets: | |||||
Derivative assets | [4] | 31,000 | 55,000 | ||
Liabilities: | |||||
Derivative liabilities | [4] | 13,000 | 18,000 | ||
Recurring [Member] | Level 1 [Member] | Credit contracts [Member] | |||||
Assets: | |||||
Derivative assets | [4] | 0 | 3,000 | ||
Liabilities: | |||||
Derivative liabilities | [4] | 1,000 | 14,000 | ||
Recurring [Member] | Level 1 [Member] | Foreign exchange contracts [Member] | |||||
Assets: | |||||
Derivative assets | [4] | 0 | 0 | ||
Liabilities: | |||||
Derivative liabilities | [4] | 0 | 0 | ||
Recurring [Member] | Level 1 [Member] | Commodity contracts [Member] | |||||
Assets: | |||||
Derivative assets | [4] | 1,000 | 9,000 | ||
Liabilities: | |||||
Derivative liabilities | [4] | 8,000 | 5,000 | ||
Recurring [Member] | Level 1 [Member] | Non-trading debt securities [Member] | |||||
Assets: | |||||
Other assets | 105,000 | 123,000 | |||
Recurring [Member] | Level 1 [Member] | Other [Member] | |||||
Assets: | |||||
Other assets | [3],[16] | 252,000 | |||
Recurring [Member] | Level 2 [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 7,340,000 | 7,978,000 | ||
Derivative assets | [4] | 16,891,000 | 20,921,000 | ||
Subtotal, Assets | 24,231,000 | 28,899,000 | [4] | ||
Loans and receivables | 809,000 | [6] | 709,000 | [7] | |
Collateralized agreements | 303,000 | [8] | 534,000 | [9] | |
Other assets | [3],[10] | 126,000 | |||
Total Assets | 25,776,000 | 30,620,000 | |||
Liabilities: | |||||
Trading liabilities | 1,513,000 | 1,690,000 | |||
Derivative liabilities | [4] | 16,907,000 | 20,525,000 | ||
Subtotal, Liabilities | 18,420,000 | 22,215,000 | |||
Short-term borrowings | [11] | 514,000 | 348,000 | ||
Payables and deposits | [12] | 31,000 | 14,000 | ||
Collateralized financing | 219,000 | [8] | 247,000 | [9] | |
Long-term borrowings | [11],[13],[14] | 3,566,000 | 3,291,000 | ||
Other liabilities | [15] | 109,000 | 129,000 | ||
Total Liabilities | 22,859,000 | 26,244,000 | |||
Recurring [Member] | Level 2 [Member] | Equities [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 836,000 | [10] | 908,000 | [16] |
Liabilities: | |||||
Trading liabilities | 175,000 | 152,000 | |||
Recurring [Member] | Level 2 [Member] | Private equity and debt investments [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3],[17] | 7,000 | |||
Recurring [Member] | Level 2 [Member] | Japanese agency and municipal securities [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 77,000 | 106,000 | ||
Liabilities: | |||||
Trading liabilities | 0 | 0 | |||
Recurring [Member] | Level 2 [Member] | Foreign government, agency and municipal securities [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 2,237,000 | 2,000,000 | ||
Liabilities: | |||||
Trading liabilities | 1,135,000 | 1,114,000 | |||
Recurring [Member] | Level 2 [Member] | Bank and corporate debt securities and loans for trading purposes [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 1,134,000 | 1,266,000 | ||
Recurring [Member] | Level 2 [Member] | Bank and corporate debt securities [Member] | |||||
Liabilities: | |||||
Trading liabilities | 198,000 | 272,000 | |||
Recurring [Member] | Level 2 [Member] | Commercial mortgage-backed securities ("CMBS") [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 0 | 0 | ||
Recurring [Member] | Level 2 [Member] | Residential mortgage-backed securities ("RMBS") [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 3,004,000 | 3,626,000 | ||
Liabilities: | |||||
Trading liabilities | 5,000 | 3,000 | |||
Recurring [Member] | Level 2 [Member] | Residential mortgage-backed securities ("RMBS") [Member] | Issued/Guaranteed by government sponsored entity [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 2,946,000 | 3,602,000 | ||
Recurring [Member] | Level 2 [Member] | Residential mortgage-backed securities ("RMBS") [Member] | Other [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 58,000 | 24,000 | ||
Recurring [Member] | Level 2 [Member] | Real estate-backed securities [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 0 | |||
Recurring [Member] | Level 2 [Member] | Collateralized debt obligations ("CDOs") and other [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 28,000 | [18] | 21,000 | [19] |
Liabilities: | |||||
Trading liabilities | 0 | 1,000 | [19] | ||
Recurring [Member] | Level 2 [Member] | Investment trust funds and other [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 24,000 | 44,000 | ||
Liabilities: | |||||
Trading liabilities | 148,000 | ||||
Recurring [Member] | Level 2 [Member] | Equity contracts [Member] | |||||
Assets: | |||||
Derivative assets | [4] | 1,179,000 | 1,869,000 | ||
Liabilities: | |||||
Derivative liabilities | [4] | 1,631,000 | 1,972,000 | ||
Recurring [Member] | Level 2 [Member] | Interest rate contracts [Member] | |||||
Assets: | |||||
Derivative assets | [4] | 11,879,000 | 13,551,000 | ||
Liabilities: | |||||
Derivative liabilities | [4] | 11,442,000 | 13,125,000 | ||
Recurring [Member] | Level 2 [Member] | Credit contracts [Member] | |||||
Assets: | |||||
Derivative assets | [4] | 322,000 | 318,000 | ||
Liabilities: | |||||
Derivative liabilities | [4] | 365,000 | 356,000 | ||
Recurring [Member] | Level 2 [Member] | Foreign exchange contracts [Member] | |||||
Assets: | |||||
Derivative assets | [4] | 3,511,000 | 5,183,000 | ||
Liabilities: | |||||
Derivative liabilities | [4] | 3,469,000 | 5,071,000 | ||
Recurring [Member] | Level 2 [Member] | Commodity contracts [Member] | |||||
Assets: | |||||
Derivative assets | [4] | 0 | 0 | ||
Liabilities: | |||||
Derivative liabilities | [4] | 0 | 1,000 | ||
Recurring [Member] | Level 2 [Member] | Non-trading debt securities [Member] | |||||
Assets: | |||||
Other assets | 307,000 | 332,000 | |||
Recurring [Member] | Level 2 [Member] | Other [Member] | |||||
Assets: | |||||
Other assets | [3],[16] | 146,000 | |||
Recurring [Member] | Level 3 [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 298,000 | 472,000 | ||
Derivative assets | [4] | 164,000 | 198,000 | ||
Subtotal, Assets | 462,000 | 670,000 | [4] | ||
Loans and receivables | 88,000 | [6] | 96,000 | [7] | |
Collateralized agreements | 18,000 | [8] | 15,000 | [9] | |
Other assets | [3],[10] | 150,000 | |||
Total Assets | 718,000 | 949,000 | |||
Liabilities: | |||||
Trading liabilities | 5,000 | 2,000 | |||
Derivative liabilities | [4] | 256,000 | 227,000 | ||
Subtotal, Liabilities | 261,000 | 229,000 | |||
Short-term borrowings | [11] | 74,000 | 29,000 | ||
Payables and deposits | [12] | 1,000 | 1,000 | ||
Long-term borrowings | [11],[13],[14] | 459,000 | 409,000 | ||
Other liabilities | [15] | 13,000 | 0 | ||
Total Liabilities | 808,000 | 668,000 | |||
Recurring [Member] | Level 3 [Member] | Equities [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 10,000 | [10] | 14,000 | [16] |
Liabilities: | |||||
Trading liabilities | 0 | 0 | |||
Recurring [Member] | Level 3 [Member] | Private equity and debt investments [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3],[17] | 49,000 | 31,000 | ||
Recurring [Member] | Level 3 [Member] | Japanese agency and municipal securities [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 2,000 | 2,000 | ||
Recurring [Member] | Level 3 [Member] | Foreign government, agency and municipal securities [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 13,000 | 8,000 | ||
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 and debt investments | [3] | 129,000 | 228,000 | ||
Recurring [Member] | Level 3 [Member] | Bank and corporate debt securities [Member] | |||||
Liabilities: | |||||
Trading liabilities | 2,000 | 1,000 | |||
Recurring [Member] | Level 3 [Member] | Commercial mortgage-backed securities ("CMBS") [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 2,000 | 1,000 | ||
Recurring [Member] | Level 3 [Member] | Residential mortgage-backed securities ("RMBS") [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 20,000 | 62,000 | ||
Recurring [Member] | Level 3 [Member] | Residential mortgage-backed securities ("RMBS") [Member] | Issued/Guaranteed by government sponsored entity [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 14,000 | |||
Recurring [Member] | Level 3 [Member] | Residential mortgage-backed securities ("RMBS") [Member] | Other [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 20,000 | 48,000 | ||
Recurring [Member] | Level 3 [Member] | Real estate-backed securities [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 62,000 | 94,000 | ||
Recurring [Member] | Level 3 [Member] | Collateralized debt obligations ("CDOs") and other [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 11,000 | [18] | 32,000 | [19] |
Liabilities: | |||||
Trading liabilities | 3,000 | 1,000 | [19] | ||
Recurring [Member] | Level 3 [Member] | Investment trust funds and other [Member] | |||||
Assets: | |||||
Trading assets and private equity and debt investments | [3] | 0 | 0 | ||
Liabilities: | |||||
Trading liabilities | 0 | 0 | |||
Recurring [Member] | Level 3 [Member] | Equity contracts [Member] | |||||
Assets: | |||||
Derivative assets | [4] | 54,000 | 48,000 | ||
Liabilities: | |||||
Derivative liabilities | [4] | 73,000 | 29,000 | ||
Recurring [Member] | Level 3 [Member] | Interest rate contracts [Member] | |||||
Assets: | |||||
Derivative assets | [4] | 28,000 | 23,000 | ||
Liabilities: | |||||
Derivative liabilities | [4] | 86,000 | 77,000 | ||
Recurring [Member] | Level 3 [Member] | Credit contracts [Member] | |||||
Assets: | |||||
Derivative assets | [4] | 51,000 | 86,000 | ||
Liabilities: | |||||
Derivative liabilities | [4] | 66,000 | 87,000 | ||
Recurring [Member] | Level 3 [Member] | Foreign exchange contracts [Member] | |||||
Assets: | |||||
Derivative assets | [4] | 31,000 | 41,000 | ||
Liabilities: | |||||
Derivative liabilities | [4] | ¥ 31,000 | 34,000 | ||
Recurring [Member] | Level 3 [Member] | Other [Member] | |||||
Assets: | |||||
Other assets | [3],[16] | ¥ 168,000 | |||
[1] | 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, 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. As of September 30, 2020, Nomura offset a total of ¥1,592 billion of cash collateral receivables against net derivative liabilities and ¥1,726 billion of cash collateral payables against net derivative assets. | ||||
[2] | Includes the amount of embedded derivatives bifurcated in accordance with ASC 815. | ||||
[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, 2020 and September 30, 2020, the fair values of these investments which are included in Trading assets and private equity and debt investments were ¥26 billion and ¥21 billion, respectively. As of March 31, 2020 and September 30, 2020, the fair values of these investments which are included in Other assets—Others were ¥6 billion and ¥5 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] | Represents the amount offset under counterparty netting of derivative assets and liabilities as well as cash collateral netting against net derivatives. | ||||
[6] | Includes loans receivable and loan commitments carried at fair value through election of the fair value option. | ||||
[7] | Includes loans for which the fair value option has been elected. | ||||
[8] | Includes collateralized agreements, customer contract assets and receivables and other receivables. | ||||
[9] | Includes collateralized agreements or collateralized financing for which the fair value option has been elected. | ||||
[10] | Includes equity securities without readily determinable fair value of ¥65,365 million as of September 30, 2020. | ||||
[11] | Includes structured notes for which the fair value option has been elected. | ||||
[12] | Includes embedded derivatives bifurcated from deposits received at banks. If unrealized gains are greater than unrealized losses, deposits are reduced by the excess amount. | ||||
[13] | Includes embedded derivatives bifurcated from issued structured notes. If unrealized gains are greater than unrealized losses, borrowings are reduced by the excess amount. | ||||
[14] | 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. | ||||
[15] | Includes loan commitments for which the fair value option has been elected. | ||||
[16] | Includes equity investments that would have been accounted for under the equity method had Nomura not chosen to elect the fair value option. | ||||
[17] | 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. | ||||
[18] | Includes CLOs and ABS such as those secured on credit card loans, auto loans and student loans. | ||||
[19] | Includes collateralized loan obligations (“CLOs”) and asset-backed securities (“ABS”) such as those secured on credit card loans, auto loans and student loans. |
Fair value measurements - Fai_2
Fair value measurements - Fair value of financial instruments measured on recurring basis (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 | |
Fair value measurements | |||
Other assets | ¥ 915,141 | ¥ 827,022 | |
Recurring [Member] | |||
Fair value measurements | |||
Trading assets and private equity investments | [1] | 15,460,000 | 14,930,000 |
Other assets | [1],[2] | 579,000 | |
Recurring [Member] | Other [Member] | |||
Fair value measurements | |||
Other assets | [1],[3] | 566,000 | |
Recurring [Member] | Net asset value per share [Member] | |||
Fair value measurements | |||
Trading assets and private equity investments | 21,000 | 26,000 | |
Recurring [Member] | Net asset value per share [Member] | Other [Member] | |||
Fair value measurements | |||
Other assets | ¥ 5,000 | ¥ 6,000 | |
[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, 2020 and September 30, 2020, the fair values of these investments which are included in Trading assets and private equity and debt investments were ¥26 billion and ¥21 billion, respectively. As of March 31, 2020 and September 30, 2020, the fair values of these investments which are included in Other assets—Others were ¥6 billion and ¥5 billion, respectively. | ||
[2] | Includes equity securities without readily determinable fair value of ¥65,365 million as of September 30, 2020. | ||
[3] | 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 | 6 Months Ended | 12 Months Ended |
Sep. 30, 2020 | Mar. 31, 2020 | |
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 | ¥ (5) | ¥ 8 |
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 | ¥ (12) | ¥ (27) |
Concentrations of credit risk, percentage | 19.00% | 16.00% |
American Century Companies, Inc. [Member] | ||
Transfers out of / into Level 3 | ||
Percentage of economic interest | 39.63% | 39.19% |
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 | 6 Months Ended | 12 Months Ended | |||||||
Sep. 30, 2020JPY (¥) | Mar. 31, 2020JPY (¥) | Jun. 30, 2020JPY (¥) | Sep. 30, 2019JPY (¥) | Jun. 30, 2019JPY (¥) | Mar. 31, 2019JPY (¥) | ||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Fair Value, Financial Instrument, Assets | ¥ 462 | [1] | ¥ 722 | [1] | ¥ 556 | ¥ 639 | ¥ 632 | ¥ 577 | |
Fair Value, Financial Instrument, Liabilities | 552 | 441 | 487 | 578 | 605 | 566 | |||
Trading assets and private equity and debt investments [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Fair Value, Financial Instrument, Assets | 298 | 472 | 382 | 372 | 353 | 299 | |||
Trading assets and private equity and debt investments [Member] | Equities [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Fair Value, Financial Instrument, Assets | ¥ 10 | ¥ 14 | 11 | 10 | 12 | 13 | |||
Trading assets and private equity and debt investments [Member] | Equities [Member] | DCF [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Interrelationships between valuation inputs | [2] | Not applicable | Not applicable | ||||||
Trading assets and private equity and debt 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 | [3] | 0.750 | 0.750 | ||||||
Impact of increases in significant unobservable valuation inputs | [4] | Lower fair value | [5] | Lower fair value | |||||
Trading assets and private equity and debt 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 | [6] | 0.750 | 0.750 | ||||||
Trading assets and private equity and debt investments [Member] | Equities [Member] | Market multiples [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Interrelationships between valuation inputs | [2] | Not applicable | |||||||
Trading assets and private equity and debt 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 | [3] | 0.200 | |||||||
Impact of increases in significant unobservable valuation inputs | [4],[5] | Lower fair value | |||||||
Trading assets and private equity and debt 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 | [6] | 0.200 | |||||||
Trading assets and private equity and debt investments [Member] | Private equity and debt investments [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Fair Value, Financial Instrument, Assets | ¥ 49 | ¥ 31 | 37 | 26 | 26 | 26 | |||
Trading assets and private equity and debt investments [Member] | Private equity and debt investments [Member] | DCF [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Interrelationships between valuation inputs | [2] | No predictable interrelationship | No predictable interrelationship | ||||||
Trading assets and private equity and debt 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 | [4],[5] | Lower fair value | Lower fair value | ||||||
Trading assets and private equity and debt 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 | [3] | 0.066 | 0.070 | ||||||
Trading assets and private equity and debt 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 | [3] | 0.126 | 0.135 | ||||||
Trading assets and private equity and debt 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 | [6] | 0.102 | 0.100 | ||||||
Trading assets and private equity and debt 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 | [4],[5] | Higher fair value | Higher fair value | ||||||
Trading assets and private equity and debt 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 | [3] | 0 | 0 | ||||||
Trading assets and private equity and debt 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 | [3] | 0.010 | 0.010 | ||||||
Trading assets and private equity and debt 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 | [6] | 0.004 | 0.006 | ||||||
Trading assets and private equity and debt 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 | [4],[5] | Lower fair value | Lower fair value | ||||||
Trading assets and private equity and debt 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 | [3] | 0.050 | 0.050 | ||||||
Trading assets and private equity and debt 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 | [3] | 0.300 | 0.300 | ||||||
Trading assets and private equity and debt 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 | [6] | 0.134 | 0.099 | ||||||
Trading assets and private equity and debt investments [Member] | Private equity and debt investments [Member] | Market multiples [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Interrelationships between valuation inputs | [2] | No predictable interrelationship | No predictable interrelationship | ||||||
Trading assets and private equity and debt investments [Member] | Private equity and debt investments [Member] | Market multiples [Member] | EV/EBITDA ratios [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Impact of increases in significant unobservable valuation inputs | [4],[5] | Higher fair value | Higher fair value | ||||||
Trading assets and private equity and debt 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 | [3] | (0.4) | 1 | ||||||
Trading assets and private equity and debt 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 | [3] | 10.6 | 11 | ||||||
Trading assets and private equity and debt 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 | [6] | 5.6 | 8.9 | ||||||
Trading assets and private equity and debt 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 | [3] | 10.5 | 9.6 | ||||||
Impact of increases in significant unobservable valuation inputs | [4],[5] | Higher fair value | Higher fair value | ||||||
Trading assets and private equity and debt 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 | [6] | 10.5 | 9.6 | ||||||
Trading assets and private equity and debt 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 | [4],[5] | Lower fair value | Lower fair value | ||||||
Trading assets and private equity and debt 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 | [3] | 0.050 | 0.050 | ||||||
Trading assets and private equity and debt 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 | [3] | 0.300 | 0.300 | ||||||
Trading assets and private equity and debt 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 | [6] | 0.164 | 0.098 | ||||||
Trading assets and private equity and debt investments [Member] | Foreign government, agency and municipal securities [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Fair Value, Financial Instrument, Assets | ¥ 13 | ¥ 8 | 10 | 6 | 6 | 5 | |||
Trading assets and private equity and debt investments [Member] | Foreign government, agency and municipal securities [Member] | DCF [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Interrelationships between valuation inputs | [2] | No predictable interrelationship | No predictable interrelationship | ||||||
Trading assets and private equity and debt 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 | [4],[5] | Lower fair value | Lower fair value | ||||||
Trading assets and private equity and debt 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 | [3] | 0 | 0 | ||||||
Trading assets and private equity and debt 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 | [3] | 0.017 | 0.014 | ||||||
Trading assets and private equity and debt 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 | [6] | 0.005 | 0.005 | ||||||
Trading assets and private equity and debt 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 | [4],[5] | Higher fair value | Higher fair value | ||||||
Trading assets and private equity and debt 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 | [3] | 0.058 | 0.040 | ||||||
Trading assets and private equity and debt 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 | [3] | 0.300 | 0.180 | ||||||
Trading assets and private equity and debt 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 | [6] | 0.102 | 0.108 | ||||||
Trading assets and private equity and debt 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 | ¥ 129 | ¥ 228 | 207 | 177 | 195 | 160 | |||
Trading assets and private equity and debt 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 | [2] | No predictable interrelationship | No predictable interrelationship | ||||||
Trading assets and private equity and debt 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 | [4],[5] | Lower fair value | Lower fair value | ||||||
Trading assets and private equity and debt 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 | [3] | 0 | 0 | ||||||
Trading assets and private equity and debt 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 | [3] | 0.150 | 0.179 | ||||||
Trading assets and private equity and debt 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 | [6] | 0.050 | 0.058 | ||||||
Trading assets and private equity and debt 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 | [4],[5] | Higher fair value | Higher fair value | ||||||
Trading assets and private equity and debt 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 | [3] | 0 | 0 | ||||||
Trading assets and private equity and debt 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 | [3] | 0.970 | 0.807 | ||||||
Trading assets and private equity and debt 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 | [6] | 0.778 | 0.438 | ||||||
Trading assets and private equity and debt investments [Member] | Residential mortgage-backed securities ("RMBS") [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Fair Value, Financial Instrument, Assets | ¥ 20 | ¥ 62 | 21 | 26 | 3 | 3 | |||
Trading assets and private equity and debt investments [Member] | Residential mortgage-backed securities ("RMBS") [Member] | DCF [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Interrelationships between valuation inputs | [2] | No predictable interrelationship | No predictable interrelationship | ||||||
Trading assets and private equity and debt 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 | [4],[5] | Lower fair value | Lower fair value | ||||||
Trading assets and private equity and debt 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 | [3] | 0 | 0 | ||||||
Trading assets and private equity and debt 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 | [3] | 0.405 | 0.308 | ||||||
Trading assets and private equity and debt 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 | [6] | 0.054 | 0.067 | ||||||
Trading assets and private equity and debt 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 | [4],[5] | Lower fair value | Lower fair value | ||||||
Trading assets and private equity and debt 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 | [3] | 0.061 | 0.071 | ||||||
Trading assets and private equity and debt 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 | [3] | 0.150 | 0.150 | ||||||
Trading assets and private equity and debt 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 | [6] | 0.077 | 0.089 | ||||||
Trading assets and private equity and debt 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 | [4],[5] | Lower fair value | Lower fair value | ||||||
Trading assets and private equity and debt 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 | [3] | 0 | 0 | ||||||
Trading assets and private equity and debt 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 | [3] | 0.968 | 1 | ||||||
Trading assets and private equity and debt 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 | [6] | 0.196 | 0.406 | ||||||
Trading assets and private equity and debt investments [Member] | Real estate-backed securities [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Fair Value, Financial Instrument, Assets | ¥ 62 | ¥ 94 | 82 | 103 | 80 | 69 | |||
Trading assets and private equity and debt investments [Member] | Real estate-backed securities [Member] | DCF [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Interrelationships between valuation inputs | [2] | Not applicable | Not applicable | ||||||
Trading assets and private equity and debt 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 | [4],[5] | Lower fair value | Lower fair value | ||||||
Trading assets and private equity and debt 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 | [3] | 0 | 0 | ||||||
Trading assets and private equity and debt 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 | [3] | 0.150 | 0.081 | ||||||
Trading assets and private equity and debt 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 | [3] | 0.039 | 0.034 | ||||||
Trading assets and private equity and debt investments [Member] | Collateralized debt obligations ("CDOs") and other [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Fair Value, Financial Instrument, Assets | ¥ 11 | ¥ 32 | 11 | 21 | 27 | 19 | |||
Trading assets and private equity and debt investments [Member] | Collateralized debt obligations ("CDOs") and other [Member] | DCF [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Interrelationships between valuation inputs | [2] | 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 and debt 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 | [4],[5] | Lower fair value | Lower fair value | ||||||
Trading assets and private equity and debt 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 | [3] | 0.092 | 0.064 | ||||||
Trading assets and private equity and debt 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 | [3] | 0.479 | 0.568 | ||||||
Trading assets and private equity and debt 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 | [6] | 0.203 | 0.216 | ||||||
Trading assets and private equity and debt 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 | [3] | 0.200 | 0.200 | ||||||
Impact of increases in significant unobservable valuation inputs | [4],[5] | Lower fair value | Lower fair value | ||||||
Trading assets and private equity and debt 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 | [6] | 0.200 | 0.200 | ||||||
Trading assets and private equity and debt 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 | [3] | 0.020 | 0.020 | ||||||
Impact of increases in significant unobservable valuation inputs | [4],[5] | Lower fair value | Lower fair value | ||||||
Trading assets and private equity and debt 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 | [6] | 0.020 | 0.020 | ||||||
Trading assets and private equity and debt 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 | [4],[5] | Lower fair value | Lower fair value | ||||||
Trading assets and private equity and debt 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 | [3] | 0.909 | 0 | ||||||
Trading assets and private equity and debt 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 | [3] | 1 | 1 | ||||||
Trading assets and private equity and debt 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 | [6] | 0.950 | 0.730 | ||||||
Equity contracts [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Fair Value, Financial Instrument, Assets | ¥ (19) | [1] | ¥ 19 | [1] | (16) | 16 | 2 | (8) | |
Equity contracts [Member] | Option models [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Interrelationships between valuation inputs | [2] | 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 | [4],[5] | 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 | [3] | 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 | [3] | 0.210 | 0.187 | ||||||
Equity contracts [Member] | Option models [Member] | Volatilities [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Impact of increases in significant unobservable valuation inputs | [4],[5] | 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 | [3] | 0.040 | 0.122 | ||||||
Equity contracts [Member] | Option models [Member] | Volatilities [Member] | Maximum [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Valuation inputs, Derivatives, net | [3] | 0.901 | 1.447 | ||||||
Equity contracts [Member] | Option models [Member] | Correlations [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Impact of increases in significant unobservable valuation inputs | [4],[5] | 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 | [3] | (0.85) | (0.85) | ||||||
Equity contracts [Member] | Option models [Member] | Correlations [Member] | Maximum [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Valuation inputs, Derivatives, net | [3] | 0.98 | 0.97 | ||||||
Interest rate contracts [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Fair Value, Financial Instrument, Assets | ¥ (58) | [1] | ¥ (54) | [1] | (66) | (46) | (54) | (54) | |
Interest rate contracts [Member] | DCF / Option models [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Interrelationships between valuation inputs | [2] | 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 | [4],[5] | 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 | [3] | (0.003) | (0.001) | ||||||
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 | [3] | 0.012 | 0.020 | ||||||
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 | [4],[5] | 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 | [3] | 0.086 | 0.088 | ||||||
Interest rate contracts [Member] | DCF / Option models [Member] | Volatilities [Member] | Maximum [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Valuation inputs, Derivatives, net | [3] | 0.137 | 0.138 | ||||||
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 | [4],[5] | 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 | [3] | 0.0027 | 0.00246 | ||||||
Interest rate contracts [Member] | DCF / Option models [Member] | Volatilities [Member] | Maximum [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Valuation inputs, Derivatives, net | [3] | 0.00933 | 0.01194 | ||||||
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 | [4],[5] | 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 | [3] | (1) | (1) | ||||||
Interest rate contracts [Member] | DCF / Option models [Member] | Correlations [Member] | Maximum [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Valuation inputs, Derivatives, net | [3] | 0.98 | 0.98 | ||||||
Credit contracts [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Fair Value, Financial Instrument, Assets | ¥ (15) | [1] | ¥ (1) | [1] | (8) | (23) | (9) | (8) | |
Credit contracts [Member] | DCF / Option models [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Interrelationships between valuation inputs | [2] | 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 | [4],[5] | 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 | [3] | 0 | 0.001 | ||||||
Credit contracts [Member] | DCF / Option models [Member] | Credit spreads [Member] | Maximum [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Valuation inputs, Derivatives, net | [3] | 0.258 | 0.284 | ||||||
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 | [4],[5] | 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 | [3] | 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 | [3] | 1.003 | 1.054 | ||||||
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 | [4],[5] | Higher fair value | 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 | [3] | 0.500 | 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 | [3] | 0.830 | 0.830 | ||||||
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 | [4],[5] | 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 | [3] | 0.07 | 0.16 | ||||||
Credit contracts [Member] | DCF / Option models [Member] | Correlations [Member] | Maximum [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Valuation inputs, Derivatives, net | [3] | 0.74 | 0.82 | ||||||
Foreign exchange contracts [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Fair Value, Financial Instrument, Assets | ¥ 0 | [1] | ¥ 7 | [1] | 0 | 13 | 15 | 20 | |
Foreign exchange contracts [Member] | Option models [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Interrelationships between valuation inputs | [2] | 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 | [4],[5] | Higher fair value | Higher fair value | ||||||
Foreign exchange contracts [Member] | Option models [Member] | Interest rates [Member] | Minimum [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Valuation inputs, Derivatives, net | [3] | (0.003) | (0.001) | ||||||
Foreign exchange contracts [Member] | Option models [Member] | Interest rates [Member] | Maximum [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Valuation inputs, Derivatives, net | [3] | 0.010 | 0.008 | ||||||
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 | [4],[5] | Higher fair value | Higher fair value | ||||||
Foreign exchange contracts [Member] | Option models [Member] | Volatilities [Member] | Minimum [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Valuation inputs, Derivatives, net | [3] | 0.026 | 0.020 | ||||||
Foreign exchange contracts [Member] | Option models [Member] | Volatilities [Member] | Maximum [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Valuation inputs, Derivatives, net | [3] | 0.289 | 0.239 | ||||||
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 | [4],[5] | Higher fair value | Higher fair value | ||||||
Foreign exchange contracts [Member] | Option models [Member] | Volatilities [Member] | Minimum [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Valuation inputs, Derivatives, net | [3] | 0.00174 | 0.00192 | ||||||
Foreign exchange contracts [Member] | Option models [Member] | Volatilities [Member] | Maximum [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Valuation inputs, Derivatives, net | [3] | 0.0028 | 0.00507 | ||||||
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 | [4],[5] | Higher fair value | Higher fair value | ||||||
Foreign exchange contracts [Member] | Option models [Member] | Correlations [Member] | Minimum [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Valuation inputs, Derivatives, net | [3] | (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 | [3] | 0.80 | 0.80 | ||||||
Loans and receivables [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Fair Value, Financial Instrument, Assets | ¥ 88 | [1] | ¥ 96 | [1] | 98 | 116 | 126 | 129 | |
Loans and receivables [Member] | DCF [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Interrelationships between valuation inputs | [2] | No predictable interrelationship | No predictable interrelationship | ||||||
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 | [4],[5] | 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 | [3] | 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 | [3] | 0.635 | 0.205 | ||||||
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 | [6] | 0.065 | 0.042 | ||||||
Loans and receivables [Member] | DCF [Member] | Recovery rates [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Valuation inputs, Loans and receivables | [3] | 0.575 | |||||||
Impact of increases in significant unobservable valuation inputs | [4],[5] | Higher fair value | 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 | [3] | 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 | [3] | 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 | [6] | 0.575 | 0.850 | ||||||
Collateralized agreements [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Fair Value, Financial Instrument, Assets | ¥ 18 | [1] | ¥ 15 | [1] | 19 | 12 | 26 | 33 | |
Collateralized agreements [Member] | DCF [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Interrelationships between valuation inputs | [2] | 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 | [4],[5] | 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 | [3] | 0.038 | 0.038 | ||||||
Collateralized agreements [Member] | DCF [Member] | Repo rate [Member] | Maximum [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Valuation inputs, Collateralized agreements | [3] | 0.051 | 0.056 | ||||||
Collateralized agreements [Member] | DCF [Member] | Repo rate [Member] | Weighted Average [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Valuation inputs, Collateralized agreements | [6] | 0.048 | 0.049 | ||||||
Other [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Fair Value, Financial Instrument, Assets | ¥ 150 | [1] | ¥ 168 | [1] | 147 | 179 | 173 | 166 | |
Other [Member] | DCF [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Interrelationships between valuation inputs | [2] | No predictable interrelationship | No predictable interrelationship | ||||||
Other [Member] | DCF [Member] | WACC [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Valuation inputs, Other assets | [3] | 0.093 | 0.101 | ||||||
Impact of increases in significant unobservable valuation inputs | [4],[5] | 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 | [6] | 0.093 | 0.101 | ||||||
Other [Member] | DCF [Member] | Growth rates [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Valuation inputs, Other assets | [3] | 0.020 | 0.020 | ||||||
Impact of increases in significant unobservable valuation inputs | [4],[5] | 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 | [6] | 0.020 | 0.020 | ||||||
Other [Member] | DCF [Member] | Liquidity discounts [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Valuation inputs, Other assets | [3] | 0.100 | 0.100 | ||||||
Impact of increases in significant unobservable valuation inputs | [4],[5] | 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 | [6] | 0.100 | 0.100 | ||||||
Other [Member] | Market multiples [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Interrelationships between valuation inputs | [2] | 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 | [4],[5] | 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 | [3] | 4.7 | 3.9 | ||||||
Other [Member] | Market multiples [Member] | EV/EBITDA ratios [Member] | Maximum [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Valuation inputs, Other assets | [3] | 6 | 10.3 | ||||||
Other [Member] | Market multiples [Member] | EV/EBITDA ratios [Member] | Weighted Average [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Valuation inputs, Other assets | [6] | 5.7 | 4.6 | ||||||
Other [Member] | Market multiples [Member] | PE ratios [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Impact of increases in significant unobservable valuation inputs | [4],[5] | 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 | [3] | 7.1 | 6.3 | ||||||
Other [Member] | Market multiples [Member] | PE ratios [Member] | Maximum [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Valuation inputs, Other assets | [3] | 32 | 20.7 | ||||||
Other [Member] | Market multiples [Member] | PE ratios [Member] | Weighted Average [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Valuation inputs, Other assets | [6] | 15.1 | 11.4 | ||||||
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 | [4],[5] | 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 | [3] | 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 | [3] | 1.4 | 1.3 | ||||||
Other [Member] | Market multiples [Member] | Price/Book ratios [Member] | Weighted Average [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Valuation inputs, Other assets | [6] | 0.9 | 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 | [4],[5] | 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 | [3] | 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 | [3] | 0.400 | 0.400 | ||||||
Other [Member] | Market multiples [Member] | Liquidity discounts [Member] | Weighted Average [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Valuation inputs, Other assets | [6] | 0.304 | 0.286 | ||||||
Trading liabilities [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Fair Value, Financial Instrument, Liabilities | ¥ 5 | ¥ 2 | 4 | 3 | 4 | 0 | |||
Trading liabilities [Member] | Equities [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Fair Value, Financial Instrument, Liabilities | 0 | 0 | 1 | 0 | 0 | 0 | |||
Trading liabilities [Member] | Foreign government, agency and municipal securities [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Fair Value, Financial Instrument, Liabilities | 0 | 0 | 0 | 0 | |||||
Trading liabilities [Member] | Collateralized debt obligations ("CDOs") and other [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Fair Value, Financial Instrument, Liabilities | ¥ 3 | 1 | 1 | 2 | 3 | 0 | |||
Trading liabilities [Member] | Collateralized debt obligations ("CDOs") and other [Member] | DCF [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Interrelationships between valuation inputs | [2] | Change in default probabilities typically accompanied by directionally similar change in loss severities and opposite change in prepayment rates | |||||||
Trading liabilities [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 | [4],[5] | Lower fair value | |||||||
Trading liabilities [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 liabilities | [3] | 0.095 | |||||||
Trading liabilities [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 liabilities | [3] | 0.239 | |||||||
Trading liabilities [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 liabilities | [6] | 0.162 | |||||||
Trading liabilities [Member] | Collateralized debt obligations ("CDOs") and other [Member] | DCF [Member] | Prepayment rates [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Impact of increases in significant unobservable valuation inputs | [4],[5] | Lower fair value | |||||||
Valuation inputs, Trading liabilities | [3] | 0.200 | |||||||
Trading liabilities [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 liabilities | [6] | 0.200 | |||||||
Trading liabilities [Member] | Collateralized debt obligations ("CDOs") and other [Member] | DCF [Member] | Default probabilities [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Impact of increases in significant unobservable valuation inputs | [4],[5] | Lower fair value | |||||||
Valuation inputs, Trading liabilities | [3] | 0.020 | |||||||
Trading liabilities [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 liabilities | [6] | 0.020 | |||||||
Short-term borrowings [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Fair Value, Financial Instrument, Liabilities | ¥ 74 | ¥ 29 | 30 | 25 | 43 | 31 | |||
Short-term borrowings [Member] | DCF / Option models [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Interrelationships between valuation inputs | [2] | 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 | [4],[5] | 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 | [3] | 0.140 | 0.126 | ||||||
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 | [3] | 0.901 | 0.764 | ||||||
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 | [4],[5] | 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 | [3] | (0.75) | (0.72) | ||||||
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 | [3] | 0.95 | 0.94 | ||||||
Long-term borrowings [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Fair Value, Financial Instrument, Liabilities | ¥ 459 | ¥ 409 | ¥ 447 | ¥ 543 | ¥ 556 | ¥ 535 | |||
Long-term borrowings [Member] | DCF / Option models [Member] | |||||||||
Quantitative information about significant unobservable inputs [Line Items] | |||||||||
Interrelationships between valuation inputs | [2] | 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 | [4],[5] | 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 | [3] | 0.085 | 0.086 | ||||||
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 | [3] | 0.901 | 0.764 | ||||||
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 | [4],[5] | 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 | [3] | 0.00318 | 0.0030 | ||||||
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 | [3] | 0.00933 | 0.01032 | ||||||
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 | [4],[5] | 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 | [3] | (1) | (1) | ||||||
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 | [3] | 0.98 | 0.98 | ||||||
[1] | 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. | ||||||||
[2] | 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. | ||||||||
[3] | 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. | ||||||||
[4] | 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. | ||||||||
[5] | 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. | ||||||||
[6] | Weighted average information for non-derivative instruments is calculated by weighting each valuation input by the fair value of the financial instrument. |
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 | 3 Months Ended | 6 Months Ended | ||||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |||
Assets [Abstract] | ||||||
Beginning balance, Assets | ¥ 556 | ¥ 632 | ¥ 722 | [1] | ¥ 577 | |
Total gains (losses) recognized in revenue, Assets | 6 | (8) | (19) | [1],[2] | 5 | |
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | 0 | [1] | 0 | |
Purchases/ issues, Assets | 108 | 180 | 188 | [3],[4] | 333 | |
Sales/ redemptions, Assets | (198) | (181) | (366) | [3],[4] | (328) | |
Settlements, Assets | (10) | 11 | (25) | [1] | 5 | |
Foreign exchange movements, Assets | (8) | (2) | (11) | [1] | (19) | |
Transfers into Level 3, Assets | 11 | 33 | 37 | [3],[4],[5] | 91 | |
Transfers out of Level 3, Assets | (3) | (26) | (64) | [4],[5] | (25) | |
Ending balance, Assets | 462 | [1] | 639 | 462 | [1] | 639 |
Liabilities [Abstract] | ||||||
Beginning balance, Liabilities | 487 | 605 | 441 | 566 | ||
Total gains (losses) recognized in revenue, Liabilities | (9) | 3 | (32) | 2 | ||
Total gains (losses) recognized in other comprehensive income, Liabilities | (2) | 1 | 2 | 1 | ||
Purchases/ issues, Liabilities | 128 | 83 | 232 | 176 | ||
Sales/ redemptions, Liabilities | (84) | (98) | (175) | (154) | ||
Settlements, Liabilities | 0 | 0 | 0 | 0 | ||
Foreign exchange movements, Liabilities | 0 | 0 | (1) | (1) | ||
Transfers into Level 3, Liabilities | 25 | 12 | 49 | 38 | ||
Transfers out of Level 3, Liabilities | (15) | (20) | (24) | (44) | ||
Ending balance, Liabilities | 552 | 578 | 552 | 578 | ||
Trading assets and private equity and debt investments [Member] | ||||||
Assets [Abstract] | ||||||
Beginning balance, Assets | 382 | 353 | 472 | 299 | ||
Total gains (losses) recognized in revenue, Assets | 7 | (1) | (3) | [2] | (1) | |
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | 0 | 0 | ||
Purchases/ issues, Assets | 100 | 142 | 163 | [3] | 283 | |
Sales/ redemptions, Assets | (183) | (117) | (294) | [3] | (243) | |
Settlements, Assets | 0 | 0 | 0 | 0 | ||
Foreign exchange movements, Assets | (4) | (2) | (6) | (10) | ||
Transfers into Level 3, Assets | 6 | 20 | 22 | [5],[6] | 71 | |
Transfers out of Level 3, Assets | (10) | (23) | (56) | [5] | (27) | |
Ending balance, Assets | 298 | 372 | 298 | 372 | ||
Trading assets and private equity and debt investments [Member] | Equities [Member] | ||||||
Assets [Abstract] | ||||||
Beginning balance, Assets | 11 | 12 | 14 | 13 | ||
Total gains (losses) recognized in revenue, Assets | 2 | 0 | 2 | [2] | 0 | |
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | 0 | 0 | ||
Purchases/ issues, Assets | 22 | 0 | 22 | 0 | ||
Sales/ redemptions, Assets | (24) | 0 | (27) | (1) | ||
Settlements, Assets | 0 | 0 | 0 | 0 | ||
Foreign exchange movements, Assets | 0 | 0 | 0 | 0 | ||
Transfers into Level 3, Assets | 0 | 0 | 0 | [5],[6] | 0 | |
Transfers out of Level 3, Assets | (1) | (2) | (1) | [5] | (2) | |
Ending balance, Assets | 10 | 10 | 10 | 10 | ||
Trading assets and private equity and debt investments [Member] | Private equity and debt investments [Member] | ||||||
Assets [Abstract] | ||||||
Beginning balance, Assets | 37 | 26 | 31 | 26 | ||
Total gains (losses) recognized in revenue, Assets | 1 | 1 | 3 | [2] | 2 | |
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | 0 | 0 | ||
Purchases/ issues, Assets | 11 | 0 | 17 | [3] | 0 | |
Sales/ redemptions, Assets | 0 | (1) | (2) | [3] | (1) | |
Settlements, Assets | 0 | 0 | 0 | 0 | ||
Foreign exchange movements, Assets | 0 | 0 | 0 | (1) | ||
Transfers into Level 3, Assets | 0 | 0 | 0 | [5],[6] | 0 | |
Transfers out of Level 3, Assets | 0 | 0 | 0 | [5] | 0 | |
Ending balance, Assets | 49 | 26 | 49 | 26 | ||
Trading assets and private equity and debt investments [Member] | Japanese agency and municipal securities [Member] | ||||||
Assets [Abstract] | ||||||
Beginning balance, Assets | 2 | 1 | 2 | 1 | ||
Total gains (losses) recognized in revenue, Assets | 0 | 0 | 0 | [2] | 0 | |
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | 0 | 0 | ||
Purchases/ issues, Assets | 0 | 0 | 0 | [3] | 0 | |
Sales/ redemptions, Assets | 0 | 0 | 0 | [3] | 0 | |
Settlements, Assets | 0 | 0 | 0 | 0 | ||
Foreign exchange movements, Assets | 0 | 0 | 0 | 0 | ||
Transfers into Level 3, Assets | 0 | 0 | 0 | [5],[6] | 0 | |
Transfers out of Level 3, Assets | 0 | 0 | 0 | [5] | 0 | |
Ending balance, Assets | 2 | 1 | 2 | 1 | ||
Trading assets and private equity and debt investments [Member] | Foreign government, agency and municipal securities [Member] | ||||||
Assets [Abstract] | ||||||
Beginning balance, Assets | 10 | 6 | 8 | 5 | ||
Total gains (losses) recognized in revenue, Assets | 0 | 0 | 0 | [2] | 0 | |
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | 0 | 0 | ||
Purchases/ issues, Assets | 5 | 7 | 11 | [3] | 16 | |
Sales/ redemptions, Assets | (4) | (8) | (7) | [3] | (16) | |
Settlements, Assets | 0 | 0 | 0 | 0 | ||
Foreign exchange movements, Assets | 0 | 0 | 0 | 0 | ||
Transfers into Level 3, Assets | 2 | 1 | 3 | [5],[6] | 2 | |
Transfers out of Level 3, Assets | 0 | 0 | (2) | [5] | (1) | |
Ending balance, Assets | 13 | 6 | 13 | 6 | ||
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 | 207 | 195 | 228 | 160 | ||
Total gains (losses) recognized in revenue, Assets | 2 | 0 | (1) | [2] | (1) | |
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | 0 | 0 | ||
Purchases/ issues, Assets | 14 | 22 | 25 | [3] | 39 | |
Sales/ redemptions, Assets | (86) | (41) | (115) | [3] | (60) | |
Settlements, Assets | 0 | 0 | 0 | 0 | ||
Foreign exchange movements, Assets | (3) | (1) | (3) | (6) | ||
Transfers into Level 3, Assets | 4 | 19 | 19 | [5],[6] | 63 | |
Transfers out of Level 3, Assets | (9) | (17) | (24) | [5] | (18) | |
Ending balance, Assets | 129 | 177 | 129 | 177 | ||
Trading assets and private equity and debt investments [Member] | Commercial mortgage-backed securities ("CMBS") [Member] | ||||||
Assets [Abstract] | ||||||
Beginning balance, Assets | 1 | 2 | 1 | 2 | ||
Total gains (losses) recognized in revenue, Assets | 1 | 0 | 0 | [2] | 0 | |
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | 0 | 0 | ||
Purchases/ issues, Assets | 0 | 0 | 1 | [3] | 0 | |
Sales/ redemptions, Assets | 0 | 0 | 0 | [3] | 0 | |
Settlements, Assets | 0 | 0 | 0 | 0 | ||
Foreign exchange movements, Assets | 0 | 0 | 0 | 0 | ||
Transfers into Level 3, Assets | 0 | 0 | 0 | [5],[6] | 0 | |
Transfers out of Level 3, Assets | 0 | 0 | 0 | [5] | 0 | |
Ending balance, Assets | 2 | 2 | 2 | 2 | ||
Trading assets and private equity and debt investments [Member] | Residential mortgage-backed securities ("RMBS") [Member] | ||||||
Assets [Abstract] | ||||||
Beginning balance, Assets | 21 | 3 | 62 | 3 | ||
Total gains (losses) recognized in revenue, Assets | 0 | 0 | 0 | [2] | (1) | |
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | 0 | 0 | ||
Purchases/ issues, Assets | 0 | 31 | 10 | [3] | 33 | |
Sales/ redemptions, Assets | (1) | (7) | (29) | [3] | (8) | |
Settlements, Assets | 0 | 0 | 0 | 0 | ||
Foreign exchange movements, Assets | 0 | 0 | (1) | 0 | ||
Transfers into Level 3, Assets | 0 | 0 | 0 | [5],[6] | 0 | |
Transfers out of Level 3, Assets | 0 | (1) | (22) | [5] | (1) | |
Ending balance, Assets | 20 | 26 | 20 | 26 | ||
Trading assets and private equity and debt investments [Member] | Real estate-backed securities [Member] | ||||||
Assets [Abstract] | ||||||
Beginning balance, Assets | 82 | 80 | 94 | 69 | ||
Total gains (losses) recognized in revenue, Assets | 0 | 1 | (5) | [2] | 4 | |
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | 0 | 0 | ||
Purchases/ issues, Assets | 25 | 64 | 41 | [3] | 106 | |
Sales/ redemptions, Assets | (44) | (42) | (66) | [3] | (74) | |
Settlements, Assets | 0 | 0 | 0 | 0 | ||
Foreign exchange movements, Assets | (1) | 0 | (2) | (2) | ||
Transfers into Level 3, Assets | 0 | 0 | 0 | [5],[6] | 0 | |
Transfers out of Level 3, Assets | 0 | 0 | 0 | [5] | 0 | |
Ending balance, Assets | 62 | 103 | 62 | 103 | ||
Trading assets and private equity and debt investments [Member] | Collateralized debt obligations ("CDOs") and other [Member] | ||||||
Assets [Abstract] | ||||||
Beginning balance, Assets | 11 | 27 | 32 | 19 | ||
Total gains (losses) recognized in revenue, Assets | 1 | (3) | (2) | [2] | (5) | |
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | 0 | 0 | ||
Purchases/ issues, Assets | 23 | 10 | 36 | [3] | 81 | |
Sales/ redemptions, Assets | (24) | (10) | (48) | [3] | (74) | |
Settlements, Assets | 0 | 0 | 0 | 0 | ||
Foreign exchange movements, Assets | 0 | 0 | 0 | (1) | ||
Transfers into Level 3, Assets | 0 | 0 | 0 | [5],[6] | 6 | |
Transfers out of Level 3, Assets | 0 | (3) | (7) | [5] | (5) | |
Ending balance, Assets | 11 | 21 | 11 | 21 | ||
Trading assets and private equity and debt investments [Member] | Investment trust funds and other [Member] | ||||||
Assets [Abstract] | ||||||
Beginning balance, Assets | 0 | 1 | 0 | 1 | ||
Total gains (losses) recognized in revenue, Assets | 0 | 0 | 0 | [2] | 0 | |
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | 0 | 0 | ||
Purchases/ issues, Assets | 0 | 8 | 0 | [3] | 8 | |
Sales/ redemptions, Assets | 0 | (8) | 0 | [3] | (9) | |
Settlements, Assets | 0 | 0 | 0 | 0 | ||
Foreign exchange movements, Assets | 0 | (1) | 0 | 0 | ||
Transfers into Level 3, Assets | 0 | 0 | 0 | [5],[6] | 0 | |
Transfers out of Level 3, Assets | 0 | 0 | 0 | [5] | 0 | |
Ending balance, Assets | 0 | 0 | 0 | 0 | ||
Equity contracts [Member] | ||||||
Assets [Abstract] | ||||||
Beginning balance, Assets | (16) | 2 | 19 | [1] | (8) | |
Total gains (losses) recognized in revenue, Assets | (6) | 4 | (28) | [1],[2] | 7 | |
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | 0 | [1] | 0 | |
Purchases/ issues, Assets | 0 | 0 | 0 | [3],[4] | 0 | |
Sales/ redemptions, Assets | 0 | 0 | 0 | [3],[4] | 0 | |
Settlements, Assets | (8) | 0 | (15) | [1] | 0 | |
Foreign exchange movements, Assets | 0 | 0 | 0 | [1] | 0 | |
Transfers into Level 3, Assets | 5 | 0 | 13 | [3],[4],[5] | 3 | |
Transfers out of Level 3, Assets | 6 | 10 | (8) | [4],[5] | 14 | |
Ending balance, Assets | (19) | [1] | 16 | (19) | [1] | 16 |
Interest rate contracts [Member] | ||||||
Assets [Abstract] | ||||||
Beginning balance, Assets | (66) | (54) | (54) | [1] | (54) | |
Total gains (losses) recognized in revenue, Assets | 2 | (4) | (4) | [1],[2] | 5 | |
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | 0 | [1] | 0 | |
Purchases/ issues, Assets | 0 | 0 | 0 | [3],[4] | 0 | |
Sales/ redemptions, Assets | 0 | 0 | 0 | [3],[4] | 0 | |
Settlements, Assets | 4 | 10 | 1 | [1] | 1 | |
Foreign exchange movements, Assets | 0 | 0 | 0 | [1] | 0 | |
Transfers into Level 3, Assets | (2) | 0 | (4) | [3],[4],[5] | 1 | |
Transfers out of Level 3, Assets | 4 | 2 | 3 | [4],[5] | 1 | |
Ending balance, Assets | (58) | [1] | (46) | (58) | [1] | (46) |
Credit contracts [Member] | ||||||
Assets [Abstract] | ||||||
Beginning balance, Assets | (8) | (9) | (1) | [1] | (8) | |
Total gains (losses) recognized in revenue, Assets | (4) | (2) | (10) | [1],[2] | (3) | |
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | 0 | [1] | 0 | |
Purchases/ issues, Assets | 0 | 0 | 0 | [3],[4] | 0 | |
Sales/ redemptions, Assets | 0 | 0 | 0 | [3],[4] | 0 | |
Settlements, Assets | (4) | (2) | (2) | [1] | (1) | |
Foreign exchange movements, Assets | 0 | 0 | 0 | [1] | 0 | |
Transfers into Level 3, Assets | 0 | (10) | (3) | [3],[4],[5] | (11) | |
Transfers out of Level 3, Assets | 1 | 0 | 1 | [4],[5] | 0 | |
Ending balance, Assets | (15) | [1] | (23) | (15) | [1] | (23) |
Foreign exchange contracts [Member] | ||||||
Assets [Abstract] | ||||||
Beginning balance, Assets | 0 | 15 | 7 | [1] | 20 | |
Total gains (losses) recognized in revenue, Assets | 0 | (6) | 2 | [1],[2] | (13) | |
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | 0 | [1] | 0 | |
Purchases/ issues, Assets | 0 | 0 | 0 | [3],[4] | 0 | |
Sales/ redemptions, Assets | 0 | 0 | 0 | [3],[4] | 0 | |
Settlements, Assets | (2) | 3 | (9) | [1] | 5 | |
Foreign exchange movements, Assets | 0 | 0 | 0 | [1] | (1) | |
Transfers into Level 3, Assets | 0 | 0 | (3) | [3],[4],[5] | 0 | |
Transfers out of Level 3, Assets | 2 | 1 | 3 | [4],[5] | 2 | |
Ending balance, Assets | 0 | [1] | 13 | 0 | [1] | 13 |
Commodity contracts [Member] | ||||||
Assets [Abstract] | ||||||
Beginning balance, Assets | 0 | 0 | ||||
Total gains (losses) recognized in revenue, Assets | 0 | 0 | ||||
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | ||||
Purchases/ issues, Assets | 0 | 0 | ||||
Sales/ redemptions, Assets | 0 | 0 | ||||
Settlements, Assets | 0 | 0 | ||||
Foreign exchange movements, Assets | 0 | 0 | ||||
Transfers into Level 3, Assets | 0 | 0 | ||||
Transfers out of Level 3, Assets | 0 | 0 | ||||
Ending balance, Assets | 0 | 0 | ||||
Derivatives, net [Member] | ||||||
Assets [Abstract] | ||||||
Beginning balance, Assets | (90) | (46) | (29) | [1] | (50) | |
Total gains (losses) recognized in revenue, Assets | (8) | (8) | (40) | [1],[2] | (4) | |
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | 0 | [1] | 0 | |
Purchases/ issues, Assets | 0 | 0 | 0 | [3],[4] | 0 | |
Sales/ redemptions, Assets | 0 | 0 | 0 | [3],[4] | 0 | |
Settlements, Assets | (10) | 11 | (25) | [1] | 5 | |
Foreign exchange movements, Assets | 0 | 0 | 0 | [1] | (1) | |
Transfers into Level 3, Assets | 3 | (10) | 3 | [3],[4],[5] | (7) | |
Transfers out of Level 3, Assets | 13 | 13 | (1) | [4],[5] | 17 | |
Ending balance, Assets | (92) | [1] | (40) | (92) | [1] | (40) |
Subtotal [Member] | ||||||
Assets [Abstract] | ||||||
Beginning balance, Assets | 292 | 307 | 443 | [1] | 249 | |
Total gains (losses) recognized in revenue, Assets | (1) | (9) | (43) | [1],[2] | (5) | |
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | 0 | [1] | 0 | |
Purchases/ issues, Assets | 100 | 142 | 163 | [3],[4] | 283 | |
Sales/ redemptions, Assets | (183) | (117) | (294) | [3],[4] | (243) | |
Settlements, Assets | (10) | 11 | (25) | [1] | 5 | |
Foreign exchange movements, Assets | (4) | (2) | (6) | [1] | (11) | |
Transfers into Level 3, Assets | 9 | 10 | 25 | [3],[4],[5] | 64 | |
Transfers out of Level 3, Assets | 3 | (10) | (57) | [4],[5] | (10) | |
Ending balance, Assets | 206 | [1] | 332 | 206 | [1] | 332 |
Loans and receivables [Member] | ||||||
Assets [Abstract] | ||||||
Beginning balance, Assets | 98 | 126 | 96 | [1] | 129 | |
Total gains (losses) recognized in revenue, Assets | 2 | 0 | 3 | [1],[2] | 1 | |
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | 0 | [1] | 0 | |
Purchases/ issues, Assets | 8 | 33 | 25 | [3],[4] | 43 | |
Sales/ redemptions, Assets | (15) | (48) | (36) | [3],[4] | (58) | |
Settlements, Assets | 0 | 0 | 0 | [1] | 0 | |
Foreign exchange movements, Assets | (1) | 0 | (2) | [1] | (5) | |
Transfers into Level 3, Assets | 2 | 21 | 9 | [3],[4],[5] | 21 | |
Transfers out of Level 3, Assets | (6) | (16) | (7) | [4],[5] | (15) | |
Ending balance, Assets | 88 | [1] | 116 | 88 | [1] | 116 |
Collateralized agreements [Member] | ||||||
Assets [Abstract] | ||||||
Beginning balance, Assets | 19 | 26 | 15 | [1] | 33 | |
Total gains (losses) recognized in revenue, Assets | (1) | 0 | 0 | [1],[2] | 0 | |
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | 0 | [1] | 0 | |
Purchases/ issues, Assets | 0 | 0 | 0 | [3],[4] | 0 | |
Sales/ redemptions, Assets | 0 | (16) | 0 | [3],[4] | (26) | |
Settlements, Assets | 0 | 0 | 0 | [1] | 0 | |
Foreign exchange movements, Assets | 0 | 0 | 0 | [1] | (1) | |
Transfers into Level 3, Assets | 0 | 2 | 3 | [3],[4],[5] | 6 | |
Transfers out of Level 3, Assets | 0 | 0 | 0 | [4],[5] | 0 | |
Ending balance, Assets | 18 | [1] | 12 | 18 | [1] | 12 |
Other [Member] | ||||||
Assets [Abstract] | ||||||
Beginning balance, Assets | 147 | 173 | 168 | [1] | 166 | |
Total gains (losses) recognized in revenue, Assets | 6 | 1 | 21 | [1],[2] | 9 | |
Total gains (losses) recognized in other comprehensive income, Assets | 0 | 0 | 0 | [1] | 0 | |
Purchases/ issues, Assets | 0 | 5 | 0 | [3],[4] | 7 | |
Sales/ redemptions, Assets | 0 | 0 | (36) | [3],[4] | (1) | |
Settlements, Assets | 0 | 0 | 0 | [1] | 0 | |
Foreign exchange movements, Assets | (3) | 0 | (3) | [1] | (2) | |
Transfers into Level 3, Assets | 0 | 0 | 0 | [3],[4],[5] | 0 | |
Transfers out of Level 3, Assets | 0 | 0 | 0 | [4],[5] | 0 | |
Ending balance, Assets | 150 | [1] | 179 | 150 | [1] | 179 |
Trading liabilities [Member] | ||||||
Liabilities [Abstract] | ||||||
Beginning balance, Liabilities | 4 | 4 | 2 | 0 | ||
Total gains (losses) recognized in revenue, Liabilities | 0 | 0 | 0 | 0 | ||
Total gains (losses) recognized in other comprehensive income, Liabilities | 0 | 0 | 0 | 0 | ||
Purchases/ issues, Liabilities | 5 | 0 | 8 | 4 | ||
Sales/ redemptions, Liabilities | (3) | (1) | (5) | (1) | ||
Settlements, Liabilities | 0 | 0 | 0 | 0 | ||
Foreign exchange movements, Liabilities | 0 | 0 | 0 | 0 | ||
Transfers into Level 3, Liabilities | 0 | 0 | 1 | 0 | ||
Transfers out of Level 3, Liabilities | (1) | 0 | (1) | 0 | ||
Ending balance, Liabilities | 5 | 3 | 5 | 3 | ||
Trading liabilities [Member] | Equities [Member] | ||||||
Liabilities [Abstract] | ||||||
Beginning balance, Liabilities | 1 | 0 | 0 | 0 | ||
Total gains (losses) recognized in revenue, Liabilities | 0 | 0 | 0 | 0 | ||
Total gains (losses) recognized in other comprehensive income, Liabilities | 0 | 0 | 0 | 0 | ||
Purchases/ issues, Liabilities | (1) | 0 | 0 | 0 | ||
Sales/ redemptions, Liabilities | 0 | 0 | 0 | 0 | ||
Settlements, Liabilities | 0 | 0 | 0 | 0 | ||
Foreign exchange movements, Liabilities | 0 | 0 | 0 | 0 | ||
Transfers into Level 3, Liabilities | 0 | 0 | 0 | 0 | ||
Transfers out of Level 3, Liabilities | 0 | 0 | 0 | 0 | ||
Ending balance, Liabilities | 0 | 0 | 0 | 0 | ||
Trading liabilities [Member] | Foreign government, agency and municipal securities [Member] | ||||||
Liabilities [Abstract] | ||||||
Beginning balance, Liabilities | 0 | 0 | ||||
Total gains (losses) recognized in revenue, Liabilities | 0 | 0 | 0 | 0 | ||
Total gains (losses) recognized in other comprehensive income, Liabilities | 0 | 0 | 0 | 0 | ||
Purchases/ issues, Liabilities | 0 | 0 | 0 | 0 | ||
Sales/ redemptions, Liabilities | 0 | 0 | 0 | 0 | ||
Settlements, Liabilities | 0 | 0 | 0 | 0 | ||
Foreign exchange movements, Liabilities | 0 | 0 | 0 | 0 | ||
Transfers into Level 3, Liabilities | 0 | 0 | 0 | 0 | ||
Transfers out of Level 3, Liabilities | 0 | 0 | 0 | 0 | ||
Ending balance, Liabilities | 0 | 0 | 0 | 0 | ||
Trading liabilities [Member] | Bank and corporate debt securities [Member] | ||||||
Liabilities [Abstract] | ||||||
Beginning balance, Liabilities | 2 | 1 | 1 | 0 | ||
Total gains (losses) recognized in revenue, Liabilities | 0 | 0 | 0 | 0 | ||
Total gains (losses) recognized in other comprehensive income, Liabilities | 0 | 0 | 0 | 0 | ||
Purchases/ issues, Liabilities | 1 | 0 | 2 | 1 | ||
Sales/ redemptions, Liabilities | 0 | 0 | (1) | 0 | ||
Settlements, Liabilities | 0 | 0 | 0 | 0 | ||
Foreign exchange movements, Liabilities | 0 | 0 | 0 | 0 | ||
Transfers into Level 3, Liabilities | 0 | 0 | 1 | 0 | ||
Transfers out of Level 3, Liabilities | (1) | 0 | (1) | 0 | ||
Ending balance, Liabilities | 2 | 1 | 2 | 1 | ||
Trading liabilities [Member] | Collateralized debt obligations ("CDOs") and other [Member] | ||||||
Liabilities [Abstract] | ||||||
Beginning balance, Liabilities | 1 | 3 | 1 | 0 | ||
Total gains (losses) recognized in revenue, Liabilities | 0 | 0 | 0 | 0 | ||
Total gains (losses) recognized in other comprehensive income, Liabilities | 0 | 0 | 0 | 0 | ||
Purchases/ issues, Liabilities | 5 | 0 | 6 | 3 | ||
Sales/ redemptions, Liabilities | (3) | (1) | (4) | (1) | ||
Settlements, Liabilities | 0 | 0 | 0 | 0 | ||
Foreign exchange movements, Liabilities | 0 | 0 | 0 | 0 | ||
Transfers into Level 3, Liabilities | 0 | 0 | 0 | 0 | ||
Transfers out of Level 3, Liabilities | 0 | 0 | 0 | 0 | ||
Ending balance, Liabilities | 3 | 2 | 3 | 2 | ||
Trading liabilities [Member] | Investment trust funds and other [Member] | ||||||
Liabilities [Abstract] | ||||||
Beginning balance, Liabilities | 0 | 0 | 0 | 0 | ||
Total gains (losses) recognized in revenue, Liabilities | 0 | 0 | 0 | 0 | ||
Total gains (losses) recognized in other comprehensive income, Liabilities | 0 | 0 | 0 | 0 | ||
Purchases/ issues, Liabilities | 0 | 0 | 0 | 0 | ||
Sales/ redemptions, Liabilities | 0 | 0 | 0 | 0 | ||
Settlements, Liabilities | 0 | 0 | 0 | 0 | ||
Foreign exchange movements, Liabilities | 0 | 0 | 0 | 0 | ||
Transfers into Level 3, Liabilities | 0 | 0 | 0 | 0 | ||
Transfers out of Level 3, Liabilities | 0 | 0 | 0 | 0 | ||
Ending balance, Liabilities | 0 | 0 | 0 | 0 | ||
Short-term borrowings [Member] | ||||||
Liabilities [Abstract] | ||||||
Beginning balance, Liabilities | 30 | 43 | 29 | 31 | ||
Total gains (losses) recognized in revenue, Liabilities | 0 | 1 | (2) | 1 | ||
Total gains (losses) recognized in other comprehensive income, Liabilities | 0 | 0 | 0 | 0 | ||
Purchases/ issues, Liabilities | 59 | 10 | 84 | 30 | ||
Sales/ redemptions, Liabilities | (21) | (25) | (46) | (30) | ||
Settlements, Liabilities | 0 | 0 | 0 | 0 | ||
Foreign exchange movements, Liabilities | 0 | 0 | (1) | 0 | ||
Transfers into Level 3, Liabilities | 8 | 0 | 11 | 0 | ||
Transfers out of Level 3, Liabilities | (2) | (2) | (5) | (5) | ||
Ending balance, Liabilities | 74 | 25 | 74 | 25 | ||
Payables and deposits [Member] | ||||||
Liabilities [Abstract] | ||||||
Beginning balance, Liabilities | 1 | 2 | 1 | 0 | ||
Total gains (losses) recognized in revenue, Liabilities | 0 | 0 | 0 | 0 | ||
Total gains (losses) recognized in other comprehensive income, Liabilities | 0 | 0 | 0 | 0 | ||
Purchases/ issues, Liabilities | 0 | 5 | 0 | 6 | ||
Sales/ redemptions, Liabilities | 0 | 0 | 0 | 0 | ||
Settlements, Liabilities | 0 | 0 | 0 | 0 | ||
Foreign exchange movements, Liabilities | 0 | 0 | 0 | 0 | ||
Transfers into Level 3, Liabilities | 0 | 0 | 0 | 1 | ||
Transfers out of Level 3, Liabilities | 0 | 0 | 0 | 0 | ||
Ending balance, Liabilities | 1 | 7 | 1 | 7 | ||
Long-term borrowings [Member] | ||||||
Liabilities [Abstract] | ||||||
Beginning balance, Liabilities | 447 | 556 | 409 | 535 | ||
Total gains (losses) recognized in revenue, Liabilities | (4) | 2 | (21) | 1 | ||
Total gains (losses) recognized in other comprehensive income, Liabilities | (2) | 1 | 2 | 1 | ||
Purchases/ issues, Liabilities | 61 | 68 | 136 | 136 | ||
Sales/ redemptions, Liabilities | (60) | (72) | (124) | (123) | ||
Settlements, Liabilities | 0 | 0 | 0 | 0 | ||
Foreign exchange movements, Liabilities | 0 | 0 | 0 | (1) | ||
Transfers into Level 3, Liabilities | 16 | 12 | 36 | 37 | ||
Transfers out of Level 3, Liabilities | (11) | (18) | (17) | (39) | ||
Ending balance, Liabilities | 459 | 543 | 459 | 543 | ||
Other liabilities [Member] | ||||||
Liabilities [Abstract] | ||||||
Beginning balance, Liabilities | 5 | 0 | 0 | 0 | ||
Total gains (losses) recognized in revenue, Liabilities | (5) | 0 | (9) | 0 | ||
Total gains (losses) recognized in other comprehensive income, Liabilities | 0 | 0 | 0 | 0 | ||
Purchases/ issues, Liabilities | 3 | 0 | 4 | 0 | ||
Sales/ redemptions, Liabilities | 0 | 0 | 0 | 0 | ||
Settlements, Liabilities | 0 | 0 | 0 | 0 | ||
Foreign exchange movements, Liabilities | 0 | 0 | 0 | 0 | ||
Transfers into Level 3, Liabilities | 1 | 0 | 1 | 0 | ||
Transfers out of Level 3, Liabilities | (1) | 0 | (1) | 0 | ||
Ending balance, Liabilities | ¥ 13 | ¥ 0 | ¥ 13 | ¥ 0 | ||
[1] | 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. | |||||
[2] | Includes gains and losses reported primarily 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] | Amounts reported in Purchases / issues include increases in trading liabilities while Sales / redemptions include decreases in trading liabilities. | |||||
[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] | 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. | |||||
[6] | 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 six and three months ended September 30, 2019 and 2020. |
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 | 3 Months Ended | 6 Months Ended | |||||||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | ||||||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||||||||
Unrealized gains/(losses), Assets | [1] | ¥ (4) | ¥ 4 | ¥ (31) | ¥ 7 | ||||
Unrealized gains/(losses), Liabilities | [1] | (6) | 6 | (20) | 8 | ||||
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] | 2 | (5) | (2) | (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] | 0 | 0 | 1 | 0 | ||||
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 | 2 | 2 | ||||
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 | 0 | 0 | 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 | 0 | 0 | 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] | 1 | (3) | 0 | (6) | ||||
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] | 0 | 0 | 0 | 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] | 0 | (1) | 0 | (1) | ||||
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 | (2) | 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] | 0 | (2) | (3) | (3) | ||||
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 | 0 | |||||
Equity contracts [Member] | |||||||||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||||||||
Unrealized gains/(losses), Assets | [1],[2] | (12) | 5 | (38) | 5 | ||||
Interest rate contracts [Member] | |||||||||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||||||||
Unrealized gains/(losses), Assets | [1],[2] | 2 | (4) | (10) | (5) | ||||
Credit contracts [Member] | |||||||||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||||||||
Unrealized gains/(losses), Assets | [1],[2] | (4) | 0 | 12 | (1) | ||||
Foreign exchange contracts [Member] | |||||||||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||||||||
Unrealized gains/(losses), Assets | [1],[2] | 0 | 3 | (15) | 2 | ||||
Commodity contracts [Member] | |||||||||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||||||||
Unrealized gains/(losses), Assets | [1],[2] | 0 | 0 | ||||||
Derivatives, net [Member] | |||||||||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||||||||
Unrealized gains/(losses), Assets | [1],[2] | (14) | 4 | (51) | 1 | ||||
Subtotal [Member] | |||||||||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||||||||
Unrealized gains/(losses), Assets | [1] | (12) | (1) | (53) | (7) | ||||
Loans and receivables [Member] | |||||||||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||||||||
Unrealized gains/(losses), Assets | [1] | 2 | 0 | 1 | 1 | ||||
Collateralized agreements [Member] | |||||||||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||||||||
Unrealized gains/(losses), Assets | [1] | 0 | 0 | 0 | |||||
Other [Member] | |||||||||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||||||||
Unrealized gains/(losses), Assets | [1] | 6 | 5 | 21 | 13 | ||||
Trading liabilities [Member] | |||||||||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||||||||
Unrealized gains/(losses), Liabilities | [1] | 0 | 0 | 0 | 0 | ||||
Trading liabilities [Member] | Equities [Member] | |||||||||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||||||||
Unrealized gains/(losses), Liabilities | [1] | 0 | 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 | [1] | 0 | 0 | 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 | [1] | 0 | 0 | 0 | 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 | 0 | [1] | [1] | 0 | [1] | ||||
Short-term borrowings [Member] | |||||||||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||||||||
Unrealized gains/(losses), Liabilities | 1 | [1],[3] | 1 | 2 | [1],[3] | 1 | [1],[3] | ||
Payables and deposits [Member] | |||||||||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||||||||
Unrealized gains/(losses), Liabilities | 0 | [1] | 0 | 0 | [1],[3] | 0 | [1],[3] | ||
Long-term borrowings [Member] | |||||||||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||||||||
Unrealized gains/(losses), Liabilities | (3) | [1],[3] | 5 | (15) | [1],[3] | 7 | [1],[3] | ||
Other liabilities [Member] | |||||||||
Fair value, assets and liabilities measured on recurring basis, unobservable input reconciliation [Line items] | |||||||||
Unrealized gains/(losses), Liabilities | [1] | ¥ (4) | ¥ 0 | ¥ (7) | ¥ 0 | ||||
[1] | Includes gains and losses reported within Net gain on trading, Gain (loss) 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. | ||||||||
[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. | ||||||||
[3] | Includes changes in unrealized gains and losses in Other comprehensive income (loss) for recurring Level 3 fair value measurements held at the end of the reporting period. They were ¥2 billion and ¥2 billion for the six months ended September 30, 2019 and 2020, respectively and ¥1 billion and ¥(2) billion for the three months ended September 30, 2019 and 2020, respectively. |
Fair value measurements - Sch_4
Fair value measurements - Schedule of unrealized gains and losses recognized for Level 3 financial instruments (Detail) (Parenthetical) - JPY (¥) ¥ in Billions | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Level 3 [Member] | ||||
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||||
Unrealized gains and losses from financial liability in Other comprehensive income (loss) | ¥ (2) | ¥ 1 | ¥ 2 | ¥ 2 |
Fair value measurements - Infor
Fair value measurements - Information on investments where net asset value per share is calculated or disclosed (Detail) - JPY (¥) ¥ in Billions | 6 Months Ended | 12 Months Ended | ||
Sep. 30, 2020 | Mar. 31, 2020 | |||
Fair value, balance sheet grouping, financial statement captions [Line Items] | ||||
Fair value | ¥ 26 | ¥ 32 | ||
Unfunded commitments | 23 | [1] | 13 | |
Hedge funds [Member] | ||||
Fair value, balance sheet grouping, financial statement captions [Line Items] | ||||
Fair value | 1 | 2 | ||
Unfunded commitments | [1] | |||
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 | 1 day | 1 day | ||
Hedge funds [Member] | Maximum [Member] | ||||
Fair value, balance sheet grouping, financial statement captions [Line Items] | ||||
Redemption notice | 90 days | 90 days | ||
Venture capital funds [Member] | ||||
Fair value, balance sheet grouping, financial statement captions [Line Items] | ||||
Fair value | ¥ 2 | ¥ 3 | ||
Unfunded commitments | [1] | ¥ 3 | ¥ 3 | |
Redemption frequency (if currently eligible) | [2] | 0 | 0 | |
Redemption notice | ||||
Private equity funds [Member] | ||||
Fair value, balance sheet grouping, financial statement captions [Line Items] | ||||
Fair value | ¥ 17 | ¥ 21 | ||
Unfunded commitments | [1] | ¥ 19 | ¥ 9 | |
Redemption frequency (if currently eligible) | 0 | [2] | 0 | |
Redemption notice | ||||
Real estate funds [Member] | ||||
Fair value, balance sheet grouping, financial statement captions [Line Items] | ||||
Fair value | ¥ 6 | ¥ 6 | ||
Unfunded commitments | [1] | ¥ 1 | ¥ 1 | |
Redemption frequency (if currently eligible) | [2] | 0 | 0 | |
Redemption notice | ||||
[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. |
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 | 3 Months Ended | 6 Months Ended | ||||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |||
Short-term borrowings [Member] | ||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||
Gains/(Losses) | ¥ 19 | ¥ 11 | ¥ (27) | ¥ 17 | ||
Payables and deposits [Member] | ||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||
Gains/(Losses) | 0 | 0 | 1 | 0 | ||
Collateralized financing [Member] | ||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||
Gains/(Losses) | (2) | (1) | (1) | (2) | ||
Long-term borrowings [Member] | ||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||
Gains/(Losses) | (36) | (39) | (190) | (106) | ||
Other liabilities [Member] | ||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||
Gains/(Losses) | (5) | (3) | (4) | (4) | ||
Total [Member] | ||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||
Gains/(Losses) | (24) | (32) | (221) | (95) | ||
Trading assets and private equity investments [Member] | ||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||
Gains/(Losses) | 1 | 0 | 1 | [1],[2] | 0 | [1],[2] |
Private equity and debt investments [Member] | ||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||
Gains/(Losses) | 0 | (1) | 0 | [1],[2] | 0 | [1],[2] |
Loans and receivables [Member] | ||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||
Gains/(Losses) | 2 | 3 | 4 | [2] | 3 | [2] |
Collateralized agreements [Member] | ||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||
Gains/(Losses) | 3 | 1 | 2 | [2],[3] | 2 | [2],[3] |
Other assets [Member] | ||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||
Gains/(Losses) | 4 | (7) | 24 | [1],[2] | 1 | [1],[2] |
Total [Member] | ||||||
Fair Value, Option, Quantitative Disclosures [Line Items] | ||||||
Gains/(Losses) | ¥ 10 | ¥ (4) | ¥ 31 | [2] | ¥ 6 | [2] |
[1] | Includes equity investments that would have been accounted for under the equity method had Nomura not chosen to elect the fair value option. | |||||
[2] | Includes gains and losses reported primarily within Net gain on trading and Revenue—Other in the consolidated statements of income. | |||||
[3] | Includes reverse repurchase and repurchase agreements. |
Fair value measurements - Impac
Fair value measurements - Impact of changes in its own creditworthiness on certain financial liabilities (Detail) - JPY (¥) ¥ in Billions | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Fair Value Disclosures [Abstract] | ||||
Changes recognized as a credit (debit) to other comprehensive income | ¥ (54) | ¥ (3) | ¥ (53) | ¥ (5) |
Credit (debit) amounts reclassified to earnings | ¥ (2) | ¥ 0 | (11) | (1) |
Cumulative credit (debit) balance recognized in accumulated other comprehensive income | ¥ 27 | ¥ 29 |
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 | Sep. 30, 2020 | Mar. 31, 2020 | |
Fair value, concentration of credit risk [Line items] | |||
Trading assets | [1] | ¥ 8,032 | ¥ 7,199 |
Japan [Member] | |||
Fair value, concentration of credit risk [Line items] | |||
Trading assets | 2,122 | 1,934 | |
U.S. [Member] | |||
Fair value, concentration of credit risk [Line items] | |||
Trading assets | 2,475 | 1,889 | |
EU & U.K. [Member] | |||
Fair value, concentration of credit risk [Line items] | |||
Trading assets | 2,540 | 2,704 | |
Other [Member] | |||
Fair value, concentration of credit risk [Line items] | |||
Trading assets | ¥ 895 | ¥ 672 | |
[1] | Other than above, there were ¥321 billion and ¥291 billion of government, agency and municipal securities reported within Other assets—Non-trading debt securities in the consolidated balance sheets as of March 31, 2020 and September 30 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 | Sep. 30, 2020 | Mar. 31, 2020 |
Fair value, concentration of credit risk [Line items] | ||
Non-trading debt securities | ¥ 411,980 | ¥ 455,392 |
Government, agency and municipal securities [Member] | ||
Fair value, concentration of credit risk [Line items] | ||
Non-trading debt securities | ¥ 291,000 | ¥ 321,000 |
Fair value measurements - Sch_5
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 | Sep. 30, 2020 | Mar. 31, 2020 | |
Liabilities: | |||
Deposits received at banks | ¥ 31,229 | ¥ 14,392 | |
Level 1 [Member] | |||
Assets: | |||
Cash and cash equivalents | [1] | 3,942,000 | 3,192,000 |
Total Assets | [1] | 3,942,000 | 3,192,000 |
Liabilities: | |||
Long-term borrowings | [1] | 4,000 | 2,000 |
Total Liabilities | [1] | 4,000 | 2,000 |
Level 2 [Member] | |||
Assets: | |||
Time deposits | [1] | 191,000 | 309,000 |
Deposits with stock exchanges and other segregated cash | [1] | 392,000 | 374,000 |
Loans receivable | [1],[2] | 1,436,000 | 2,201,000 |
Securities purchased under agreements to resell | [1] | 12,046,000 | 12,362,000 |
Securities borrowed | [1] | 3,502,000 | 3,529,000 |
Total Assets | [1] | 17,567,000 | 18,775,000 |
Liabilities: | |||
Short-term borrowings | [1] | 1,273,000 | 1,458,000 |
Deposits received at banks | [1] | 1,180,000 | 1,275,000 |
Securities sold under agreements to repurchase | [1] | 15,427,000 | 16,349,000 |
Securities loaned | [1] | 1,119,000 | 962,000 |
Other secured borrowings | [1] | 348,000 | 718,000 |
Long-term borrowings | [1] | 7,553,000 | 7,263,000 |
Total Liabilities | [1] | 26,900,000 | 28,025,000 |
Level 3 [Member] | |||
Assets: | |||
Loans receivable | [1],[2] | 900,000 | 641,000 |
Securities purchased under agreements to resell | [1] | 18,000 | 15,000 |
Total Assets | [1] | 918,000 | 656,000 |
Liabilities: | |||
Short-term borrowings | [1] | 74,000 | 29,000 |
Deposits received at banks | [1] | 1,000 | 1,000 |
Long-term borrowings | [1] | 512,000 | 468,000 |
Total Liabilities | [1] | 587,000 | 498,000 |
Carrying value [Member] | |||
Assets: | |||
Cash and cash equivalents | [1] | 3,942,000 | 3,192,000 |
Time deposits | [1] | 191,000 | 309,000 |
Deposits with stock exchanges and other segregated cash | [1] | 392,000 | 374,000 |
Loans receivable | [1],[2] | 2,336,000 | 2,848,000 |
Securities purchased under agreements to resell | [1] | 12,064,000 | 12,377,000 |
Securities borrowed | [1] | 3,502,000 | 3,530,000 |
Total Assets | [1] | 22,427,000 | 22,630,000 |
Liabilities: | |||
Short-term borrowings | [1] | 1,347,000 | 1,487,000 |
Deposits received at banks | [1] | 1,181,000 | 1,276,000 |
Securities sold under agreements to repurchase | [1] | 15,427,000 | 16,349,000 |
Securities loaned | [1] | 1,119,000 | 961,000 |
Other secured borrowings | [1] | 348,000 | 718,000 |
Long-term borrowings | [1] | 8,068,000 | 7,776,000 |
Total Liabilities | [1] | 27,490,000 | 28,567,000 |
Fair value [Member] | |||
Assets: | |||
Cash and cash equivalents | [1] | 3,942,000 | 3,192,000 |
Time deposits | [1] | 191,000 | 309,000 |
Deposits with stock exchanges and other segregated cash | [1] | 392,000 | 374,000 |
Loans receivable | [1],[2] | 2,336,000 | 2,842,000 |
Securities purchased under agreements to resell | [1] | 12,064,000 | 12,377,000 |
Securities borrowed | [1] | 3,502,000 | 3,529,000 |
Total Assets | [1] | 22,427,000 | 22,623,000 |
Liabilities: | |||
Short-term borrowings | [1] | 1,347,000 | 1,487,000 |
Deposits received at banks | [1] | 1,181,000 | 1,276,000 |
Securities sold under agreements to repurchase | [1] | 15,427,000 | 16,349,000 |
Securities loaned | [1] | 1,119,000 | 962,000 |
Other secured borrowings | [1] | 348,000 | 718,000 |
Long-term borrowings | [1] | 8,069,000 | 7,733,000 |
Total Liabilities | [1] | ¥ 27,491,000 | ¥ 28,525,000 |
[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 | Sep. 30, 2020 | Mar. 31, 2020 |
Derivative [Line Items] | ||
Gross fair value of derivative assets | ¥ 17,087 | ¥ 21,190 |
Financial institutions [Member] | ||
Derivative [Line Items] | ||
Gross fair value of derivative assets | 14,731 | 17,711 |
Impact of master netting agreements | (12,943) | (15,479) |
Impact of collateral | (1,526) | (1,707) |
Net exposure to credit risk | ¥ 262 | ¥ 525 |
Derivative instruments and he_4
Derivative instruments and hedging activities - Volume of derivative activity in statement of financial position (Detail) - JPY (¥) ¥ in Billions | Sep. 30, 2020 | Mar. 31, 2020 | |
Derivatives, Fair Value [Line Items] | |||
Total Notional | [1] | ¥ 3,050,566 | ¥ 2,875,396 |
Derivative assets, Fair value | 17,087 | 21,190 | |
Derivative liabilities, Fair value | [1] | 17,182 | 20,790 |
Derivatives used for trading and non-trading purposes [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Total Notional | [1],[2],[3] | 3,049,175 | 2,874,217 |
Derivative assets, Fair value | [2],[3] | 17,051 | 21,151 |
Derivative liabilities, Fair value | [1],[2],[3] | 17,180 | 20,789 |
Derivatives used for trading and non-trading purposes [Member] | Equity contracts [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Total Notional | [1],[2],[3] | 43,852 | 47,976 |
Derivative assets, Fair value | [2],[3] | 1,233 | 1,921 |
Derivative liabilities, Fair value | [1],[2],[3] | 1,705 | 2,008 |
Derivatives used for trading and non-trading purposes [Member] | Interest rate contracts [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Total Notional | [1],[2],[3] | 2,725,124 | 2,522,172 |
Derivative assets, Fair value | [2],[3] | 11,902 | 13,590 |
Derivative liabilities, Fair value | [1],[2],[3] | 11,536 | 13,214 |
Derivatives used for trading and non-trading purposes [Member] | Credit contracts [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Total Notional | [1],[2],[3] | 36,532 | 36,155 |
Derivative assets, Fair value | [2],[3] | 373 | 407 |
Derivative liabilities, Fair value | [1],[2],[3] | 432 | 457 |
Derivatives used for trading and non-trading purposes [Member] | Foreign exchange contracts [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Total Notional | [1],[2],[3] | 243,294 | 267,313 |
Derivative assets, Fair value | [2],[3] | 3,542 | 5,224 |
Derivative liabilities, Fair value | [1],[2],[3] | 3,499 | 5,104 |
Derivatives used for trading and non-trading purposes [Member] | Commodity contracts [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Total Notional | [1],[2],[3] | 373 | 601 |
Derivative assets, Fair value | [2],[3] | 1 | 9 |
Derivative liabilities, Fair value | [1],[2],[3] | 8 | 6 |
Derivatives designated as hedging instruments [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Total Notional | [1] | 1,391 | 1,179 |
Derivative assets, Fair value | 36 | 39 | |
Derivative liabilities, Fair value | [1] | 2 | 1 |
Derivatives designated as hedging instruments [Member] | Interest rate contracts [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Total Notional | [1] | 1,270 | 1,064 |
Derivative assets, Fair value | 36 | 39 | |
Derivative liabilities, Fair value | [1] | 1 | 0 |
Derivatives designated as hedging instruments [Member] | Foreign exchange contracts [Member] | |||
Derivatives, Fair Value [Line Items] | |||
Total Notional | [1] | 121 | 115 |
Derivative assets, Fair value | 0 | ||
Derivative liabilities, Fair value | [1] | ¥ 1 | ¥ 1 |
[1] | Includes the amount of embedded derivatives bifurcated in accordance with ASC 815. | ||
[2] | As of March 31, 2020 and September 30, 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 | Sep. 30, 2020 | Mar. 31, 2020 | ||
Derivative assets | ||||
Gross derivative balances, Derivative assets | [1] | ¥ 17,087 | ¥ 21,190 | |
Less: Amounts offset in the consolidated balance sheets | [2] | (15,997) | (19,248) | |
Total net amounts reported on the face of the consolidated balance sheets | [3] | 1,090 | 1,942 | |
Less: Additional amounts not offset in the consolidated balance sheets [Abstract] | ||||
Financial instruments and non-cash collateral | [4] | (140) | (182) | |
Net amount | 950 | 1,760 | ||
Derivative liabilities | ||||
Gross derivative balances, Derivative liabilities | [1],[5] | 17,182 | 20,790 | |
Less: Amounts offset in the consolidated balance sheets | [2],[5] | (15,863) | (18,987) | |
Total net amounts reported on the face of the consolidated balance sheets | 1,319 | 1,803 | ||
Less: Additional amounts not offset in the consolidated balance sheets [Abstract] | ||||
Financial instruments and non-cash collateral | [4] | (246) | (125) | |
Net amount | [5] | 1,073 | 1,678 | |
Equity contracts [Member] | OTC settled bilaterally [Member] | ||||
Derivative assets | ||||
Gross derivative balances, Derivative assets | 770 | 869 | ||
Derivative liabilities | ||||
Gross derivative balances, Derivative liabilities | 1,023 | [5] | 875 | |
Equity contracts [Member] | Exchange-traded [Member] | ||||
Derivative assets | ||||
Gross derivative balances, Derivative assets | 463 | 1,052 | ||
Derivative liabilities | ||||
Gross derivative balances, Derivative liabilities | 682 | 1,133 | ||
Interest rate contracts [Member] | OTC settled bilaterally [Member] | ||||
Derivative assets | ||||
Gross derivative balances, Derivative assets | 10,434 | 11,881 | ||
Derivative liabilities | ||||
Gross derivative balances, Derivative liabilities | 10,060 | 11,438 | ||
Interest rate contracts [Member] | OTC centrally-cleared [Member] | ||||
Derivative assets | ||||
Gross derivative balances, Derivative assets | 1,473 | 1,692 | ||
Derivative liabilities | ||||
Gross derivative balances, Derivative liabilities | 1,464 | 1,758 | ||
Interest rate contracts [Member] | Exchange-traded [Member] | ||||
Derivative assets | ||||
Gross derivative balances, Derivative assets | 31 | 56 | ||
Derivative liabilities | ||||
Gross derivative balances, Derivative liabilities | 13 | 18 | ||
Credit contracts [Member] | OTC settled bilaterally [Member] | ||||
Derivative assets | ||||
Gross derivative balances, Derivative assets | 182 | 278 | ||
Derivative liabilities | ||||
Gross derivative balances, Derivative liabilities | 241 | 311 | ||
Credit contracts [Member] | OTC centrally-cleared [Member] | ||||
Derivative assets | ||||
Gross derivative balances, Derivative assets | 191 | 126 | ||
Derivative liabilities | ||||
Gross derivative balances, Derivative liabilities | 190 | 132 | ||
Credit contracts [Member] | Exchange-traded [Member] | ||||
Derivative assets | ||||
Gross derivative balances, Derivative assets | 3 | |||
Derivative liabilities | ||||
Gross derivative balances, Derivative liabilities | 1 | 14 | ||
Foreign exchange contracts [Member] | OTC settled bilaterally [Member] | ||||
Derivative assets | ||||
Gross derivative balances, Derivative assets | 3,542 | 5,224 | ||
Derivative liabilities | ||||
Gross derivative balances, Derivative liabilities | 3,500 | 5,105 | ||
Commodity contracts [Member] | OTC settled bilaterally [Member] | ||||
Derivative assets | ||||
Gross derivative balances, Derivative assets | 0 | 1 | ||
Derivative liabilities | ||||
Gross derivative balances, Derivative liabilities | 0 | 1 | ||
Commodity contracts [Member] | Exchange-traded [Member] | ||||
Derivative assets | ||||
Gross derivative balances, Derivative assets | 1 | 8 | ||
Derivative liabilities | ||||
Gross derivative balances, Derivative liabilities | ¥ 8 | ¥ 5 | ||
[1] | 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, 2020, 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 ¥1,013 billion and ¥1,046 billion, respectively. As of September 30, 2020, the gross balance of such derivative assets and derivative liabilities was ¥443 billion and ¥572 billion, respectively. | |||
[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, 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. As of September 30, 2020, Nomura offset a total of ¥1,592 billion of cash collateral receivables against net derivative liabilities and ¥1,726 billion of cash collateral payables against net derivative assets. | |||
[3] | Net derivative assets and net derivative liabilities are generally reported within Trading assets and private equity and debt 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. | |||
[4] | 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, 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. As of September 30, 2020, a total of ¥182 billion of cash collateral receivables and ¥446 billion of cash collateral payables, including amounts reported in the table, have not been offset against net derivatives. | |||
[5] | Includes the amount of embedded derivatives bifurcated in accordance with ASC 815. |
Derivative instruments and he_6
Derivative instruments and hedging activities - Offsetting of derivatives and related collateral amounts (Parenthetical) (Detail) - JPY (¥) ¥ in Billions | Sep. 30, 2020 | Mar. 31, 2020 |
Derivative Instruments and Hedging Activities [Abstract] | ||
Gross balances of derivative assets, not subject to enforceable master netting arrangements or similar agreements | ¥ 443 | ¥ 1,013 |
Gross balances of derivative liabilities, not subject to enforceable master netting arrangements or similar agreements | 572 | 1,046 |
Cash collateral receivables against net derivative liabilities | 1,592 | 1,679 |
Cash collateral payables against net derivative assets | 1,726 | 1,940 |
Cash collateral receivables, not being offset against net derivatives | 182 | 374 |
Cash collateral payables, not being offset against net derivatives | ¥ 446 | ¥ 540 |
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 | 3 Months Ended | 6 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | ||
Derivative [Line Items] | |||||
Gains (losses) on derivatives used for trading and non-trading purposes | [1],[2] | ¥ (83) | ¥ (53) | ¥ 119 | ¥ (69) |
Equity contracts [Member] | |||||
Derivative [Line Items] | |||||
Gains (losses) on derivatives used for trading and non-trading purposes | [1],[2] | (47) | 47 | 90 | 45 |
Interest rate contracts [Member] | |||||
Derivative [Line Items] | |||||
Gains (losses) on derivatives used for trading and non-trading purposes | [1],[2] | 40 | 64 | 176 | 72 |
Credit contracts [Member] | |||||
Derivative [Line Items] | |||||
Gains (losses) on derivatives used for trading and non-trading purposes | [1],[2] | (78) | (85) | (85) | (104) |
Foreign exchange contracts [Member] | |||||
Derivative [Line Items] | |||||
Gains (losses) on derivatives used for trading and non-trading purposes | [1],[2] | 7 | (78) | (52) | (84) |
Commodity contracts [Member] | |||||
Derivative [Line Items] | |||||
Gains (losses) on derivatives used for trading and non-trading purposes | [1],[2] | ¥ (5) | ¥ (1) | ¥ (10) | ¥ 2 |
[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 six and three months ended September 30, 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 | Sep. 30, 2020 | Mar. 31, 2020 |
Carrying amount of the hedged assets/liabilities | ¥ 1,301 | ¥ 1,098 |
Cumulative gains/(losses) of fair value hedging | (33) | (36) |
Long-term borrowings [Member] | ||
Carrying amount of the hedged assets/liabilities | 1,301 | 1,098 |
Cumulative gains/(losses) of fair value hedging | ¥ (33) | ¥ (36) |
Derivative instruments and he_9
Derivative instruments and hedging activities - Schedule of derivatives designated as hedging instruments and hedged items (Detail) - JPY (¥) ¥ in Billions | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Hedged Items [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) on fair value hedges recognized | ¥ (1) | ¥ 4 | ¥ 1 | ¥ 2 |
Hedged Items [Member] | Long-term borrowings [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) on fair value hedges recognized | (1) | 4 | 1 | 2 |
Derivatives designated as hedging instruments [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) on fair value hedges recognized | 1 | (4) | (1) | (2) |
Derivatives designated as hedging instruments [Member] | Interest rate contracts [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) on fair value hedges recognized | ¥ 1 | ¥ (4) | ¥ (1) | ¥ (2) |
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 | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) from derivatives designated as net investment hedges | ¥ (5) | ¥ 5 | ¥ (7) | ¥ 3 |
Foreign exchange contracts [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gains (losses) from derivatives designated as net investment hedges | ¥ (5) | ¥ 5 | ¥ (7) | ¥ 3 |
Derivative instruments and h_11
Derivative instruments and hedging activities - Additional information (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 | |
Derivative liability position with credit-risk-related contingent features | ¥ 753,000 | ¥ 750,000 | |
Collateral pledged for derivative instruments with credit-risk-related contingent features that are in a liability position | 567,000 | 635,000 | |
Additional collateral required to be posted, aggregate fair value | 0 | 3,000 | |
Gross liability balance of total return swaps in respect of financial assets derecognised | [1] | 17,182,000 | ¥ 20,790,000 |
Total return swap [Member] | |||
Transfer of financial assets accounted for sale amount derecognised | 20,854 | ||
Cash proceeds received from derecognition of financial assets amount | 20,865 | ||
Transfer of financial assets accounted for sale fair value of derecognised assets | 20,312 | ||
Financial assets derecognised [Member] | Total return swap [Member] | |||
Gross liability balance of total return swaps in respect of financial assets derecognised | ¥ 496 | ||
[1] | Includes the amount of embedded derivatives bifurcated in accordance with ASC 815. |
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 | 6 Months Ended | 12 Months Ended | |
Sep. 30, 2020 | Mar. 31, 2020 | ||
Credit Derivatives [Line Items] | |||
Carrying value (Asset) / Liability | [1] | ¥ (121) | ¥ 180 |
Maximum potential payout / Notional | 16,833 | 16,455 | |
Notional, Purchased credit protection | 12,946 | 12,490 | |
Single-name credit default swaps [Member] | |||
Credit Derivatives [Line Items] | |||
Carrying value (Asset) / Liability | [1] | (20) | 96 |
Maximum potential payout / Notional | 7,366 | 8,018 | |
Notional, Purchased credit protection | 5,488 | 5,836 | |
Credit default indices [Member] | |||
Credit Derivatives [Line Items] | |||
Carrying value (Asset) / Liability | [1] | (138) | 18 |
Maximum potential payout / Notional | 9,077 | 8,064 | |
Notional, Purchased credit protection | 7,182 | 6,364 | |
Other credit risk related portfolio products [Member] | |||
Credit Derivatives [Line Items] | |||
Carrying value (Asset) / Liability | [1] | 37 | 65 |
Maximum potential payout / Notional | 384 | 357 | |
Notional, Purchased credit protection | 270 | 274 | |
Credit-risk related options and swaptions [Member] | |||
Credit Derivatives [Line Items] | |||
Carrying value (Asset) / Liability | [1] | 0 | 1 |
Maximum potential payout / Notional | 6 | 16 | |
Notional, Purchased credit protection | 6 | 16 | |
Less than 1 year [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 2,517 | 3,083 | |
Less than 1 year [Member] | Single-name credit default swaps [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 1,733 | 2,323 | |
Less than 1 year [Member] | Credit default indices [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 757 | 721 | |
Less than 1 year [Member] | Other credit risk related portfolio products [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 27 | 39 | |
1 to 3 years [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 5,691 | 4,823 | |
1 to 3 years [Member] | Single-name credit default swaps [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 2,210 | 2,238 | |
1 to 3 years [Member] | Credit default indices [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 3,332 | 2,455 | |
1 to 3 years [Member] | Other credit risk related portfolio products [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 149 | 130 | |
3 to 5 years [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 6,917 | 6,922 | |
3 to 5 years [Member] | Single-name credit default swaps [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 2,601 | 2,552 | |
3 to 5 years [Member] | Credit default indices [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 4,127 | 4,179 | |
3 to 5 years [Member] | Other credit risk related portfolio products [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 189 | 175 | |
3 to 5 years [Member] | Credit-risk 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 | 1,708 | 1,627 | |
More than 5 years [Member] | Single-name credit default swaps [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 822 | 905 | |
More than 5 years [Member] | Credit default indices [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 861 | 709 | |
More than 5 years [Member] | Other credit risk related portfolio products [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 19 | ¥ 13 | |
More than 5 years [Member] | Credit-risk related options and swaptions [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | ¥ 6 | ||
[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 | Sep. 30, 2020 | Mar. 31, 2020 | |
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | ¥ 16,833 | ¥ 16,455 | |
Single-name credit default swaps [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 7,366 | 8,018 | |
Credit default indices [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 9,077 | 8,064 | |
Other credit risk related portfolio products [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 384 | 357 | |
Credit-risk related options and swaptions [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 6 | 16 | |
AAA [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 212 | 146 | |
AAA [Member] | Single-name credit default swaps [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 176 | 122 | |
AAA [Member] | Credit default indices [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 36 | 24 | |
AA [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 1,742 | 1,836 | |
AA [Member] | Single-name credit default swaps [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 1,577 | 1,683 | |
AA [Member] | Credit default indices [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 165 | 153 | |
A [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 4,272 | 4,148 | |
A [Member] | Single-name credit default swaps [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 1,895 | 1,935 | |
A [Member] | Credit default indices [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 2,375 | 2,211 | |
A [Member] | Other credit risk related portfolio products [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 2 | 2 | |
BBB [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 7,504 | 6,861 | |
BBB [Member] | Single-name credit default swaps [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 2,551 | 2,643 | |
BBB [Member] | Credit default indices [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 4,734 | 4,027 | |
BBB [Member] | Other credit risk related portfolio products [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 219 | 191 | |
BB [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 2,343 | 2,605 | |
BB [Member] | Single-name credit default swaps [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 875 | 1,198 | |
BB [Member] | Credit default indices [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 1,410 | 1,318 | |
BB [Member] | Other credit risk related portfolio products [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 52 | 73 | |
BB [Member] | Credit-risk related options and swaptions [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | 6 | 16 | |
Other [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | [1] | 760 | 859 |
Other [Member] | Single-name credit default swaps [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | [1] | 292 | 437 |
Other [Member] | Credit default indices [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | [1] | 357 | 331 |
Other [Member] | Other credit risk related portfolio products [Member] | |||
Credit Derivatives [Line Items] | |||
Maximum potential payout / Notional | [1] | ¥ 111 | ¥ 91 |
[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 | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Disaggregation of Revenue [Abstract] | ||||
Commissions | ¥ 92,253 | ¥ 65,254 | ¥ 177,765 | ¥ 133,454 |
Fees from investment banking | 27,031 | 22,265 | 37,859 | 49,576 |
Asset management and portfolio service fees | 57,417 | 59,926 | 111,073 | 119,889 |
Other revenue | 10,689 | 11,401 | 22,493 | 22,142 |
Total | ¥ 187,390 | ¥ 158,846 | ¥ 349,190 | ¥ 325,061 |
Revenue from services provide_4
Revenue from services provided to customers - Additional information (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Disaggregation of Revenue [Line Items] | ||||
Revenue from performance obligations satisfied in previous periods | ¥ 458 | ¥ 280 | ¥ 538 | ¥ 480 |
Revenue from services provide_5
Revenue from services provided to customers - Customer contract balances (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 | |
Contract with Customer, Asset and Liability [Abstract] | |||
Customer contract receivables | ¥ 74,331 | ¥ 103,557 | |
Customer contract liabilities | [1] | ¥ 3,058 | ¥ 3,444 |
[1] | Customer contract liabilities primarily represent rise from investment advisory services 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 | Sep. 30, 2020 | Mar. 31, 2020 | |
Reverse repurchase agreements | |||
Total gross balance | [1] | ¥ 28,123 | ¥ 32,425 |
Less: Amounts offset in the consolidated balance sheets | [2] | (16,059) | (20,048) |
Total net amounts of reported on the face of the consolidated balance sheets | [3] | 12,064 | 12,377 |
Less: Additional amounts not offset in the consolidated balance sheets [Abstract] | |||
Financial instruments and non-cash collateral | [4] | (10,797) | (10,507) |
Cash collateral | [4] | (1) | (5) |
Net amount | 1,266 | 1,865 | |
Securities borrowing transactions | |||
Total gross balance | [1] | 3,485 | 3,508 |
Less: Amounts offset in the consolidated balance sheets | [2] | ||
Total net amounts of reported on the face of the consolidated balance sheets | [3] | 3,485 | 3,508 |
Less: Additional amounts not offset in the consolidated balance sheets [Abstract] | |||
Financial instruments and non-cash collateral | [4] | (2,431) | (2,381) |
Cash collateral | [4] | ||
Net amount | 1,054 | 1,127 | |
Repurchase agreements | |||
Total gross balance | [1] | 31,487 | 36,397 |
Less: Amounts offset in the consolidated balance sheets | [2] | (16,060) | (20,048) |
Total net amounts of reported on the face of the consolidated balance sheets | [3] | 15,427 | 16,349 |
Less: Additional amounts not offset in the consolidated balance sheets [Abstract] | |||
Financial instruments and non-cash collateral | [4] | (12,666) | (8,980) |
Cash collateral | [4] | (32) | (40) |
Net amount | 2,729 | 7,329 | |
Securities lending transactions | |||
Total gross balance | [1] | 1,436 | 1,252 |
Less: Amounts offset in the consolidated balance sheets | [2] | ||
Total net amounts of reported on the face of the consolidated balance sheets | [3] | 1,436 | 1,252 |
Less: Additional amounts not offset in the consolidated balance sheets [Abstract] | |||
Financial instruments and non-cash collateral | [4] | (1,114) | (1,067) |
Cash collateral | [4] | ||
Net amount | ¥ 322 | ¥ 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, 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. As of September 30, 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 ¥474 billion and ¥2,356 billion, respectively. As of September 30, 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 ¥958 billion and ¥226 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. |
Collateralized transactions -_2
Collateralized transactions - Offsetting of the transactions in the consolidated balance sheets (Parenthetical) (Detail) - JPY (¥) ¥ in Billions | Sep. 30, 2020 | Mar. 31, 2020 |
Collateralized Transactions | ||
Gross balances of reverse repurchase agreements, not subject to enforceable master netting arrangements or similar agreements | ¥ 474 | ¥ 627 |
Gross balances of repurchase agreements, not subject to enforceable master netting arrangements or similar agreements | 2,356 | 6,356 |
Gross balances of securities borrowing transactions, not subject to enforceable master netting arrangements or similar agreements | 958 | 998 |
Gross balances of securities lending transactions, not subject to enforceable master netting arrangements or similar agreements | ¥ 226 | ¥ 138 |
Collateralized transactions - M
Collateralized transactions - Maturity analysis of repurchase agreements and securities lending transactions (Detail) - JPY (¥) ¥ in Billions | Sep. 30, 2020 | Mar. 31, 2020 | |
Offsetting Liabilities [Line Items] | |||
Repurchase agreements | [1] | ¥ 31,487 | ¥ 36,397 |
Securities lending transactions | [1] | 1,436 | 1,252 |
Total | [2] | 32,923 | 37,649 |
Overnight and open [Member] | |||
Offsetting Liabilities [Line Items] | |||
Repurchase agreements | [3] | 13,324 | 11,004 |
Securities lending transactions | [3] | 796 | 650 |
Total | [2],[3] | 14,120 | 11,654 |
Up to 30 days [Member] | |||
Offsetting Liabilities [Line Items] | |||
Repurchase agreements | 14,969 | 21,505 | |
Securities lending transactions | 196 | 144 | |
Total | [2] | 15,165 | 21,649 |
30 - 90 days [Member] | |||
Offsetting Liabilities [Line Items] | |||
Repurchase agreements | 1,663 | 2,570 | |
Securities lending transactions | 262 | 227 | |
Total | [2] | 1,925 | 2,797 |
90 days - 1 year [Member] | |||
Offsetting Liabilities [Line Items] | |||
Repurchase agreements | 1,306 | 983 | |
Securities lending transactions | 182 | 231 | |
Total | [2] | 1,488 | 1,214 |
Greater than 1 year [Member] | |||
Offsetting Liabilities [Line Items] | |||
Repurchase agreements | 225 | 335 | |
Securities lending transactions | 0 | ||
Total | [2] | ¥ 225 | ¥ 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, 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. As of September 30, 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 ¥474 billion and ¥2,356 billion, respectively. As of September 30, 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 ¥958 billion and ¥226 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 | Sep. 30, 2020 | Mar. 31, 2020 | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Repurchase agreements | [1] | ¥ 31,487 | ¥ 36,397 |
Securities lending transactions | [1] | 1,436 | 1,252 |
Total | [2] | 32,923 | 37,649 |
Equities and convertible securities [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Repurchase agreements | 1,203 | 132 | |
Securities lending transactions | 1,182 | 1,032 | |
Total | 2,385 | 1,164 | |
Japanese government, agency and municipal securities [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Repurchase agreements | 764 | 607 | |
Securities lending transactions | |||
Total | 764 | 607 | |
Foreign government, agency and municipal securities [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Repurchase agreements | 24,317 | 29,378 | |
Securities lending transactions | 59 | 5 | |
Total | 24,376 | 29,383 | |
Bank and corporate debt securities [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Repurchase agreements | 1,942 | 1,821 | |
Securities lending transactions | 142 | 178 | |
Total | 2,084 | 1,999 | |
Commercial mortgage-backed securities ("CMBS") [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Repurchase agreements | 21 | 26 | |
Securities lending transactions | |||
Total | 21 | 26 | |
Residential mortgage-backed securities ("RMBS") [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Repurchase agreements | [3] | 3,073 | 4,162 |
Securities lending transactions | [3] | ||
Total | [3] | 3,073 | 4,162 |
Collateralized debt obligations ("CDOs") and other [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Repurchase agreements | 154 | 265 | |
Securities lending transactions | |||
Total | 154 | 265 | |
Investment trust funds and other [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Repurchase agreements | 13 | 6 | |
Securities lending transactions | 53 | 37 | |
Total | ¥ 66 | ¥ 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, 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. As of September 30, 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 ¥474 billion and ¥2,356 billion, respectively. As of September 30, 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 ¥958 billion and ¥226 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 as of March 31, 2020 and ¥2,921 billion as of September 30, 2020 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) - JPY (¥) ¥ in Billions | Sep. 30, 2020 | Mar. 31, 2020 |
Collateralized Transactions | ||
U.S. government sponsored agency mortgage pass through securities and collateralized mortgage obligations | ¥ 2,921 | ¥ 4,021 |
Collateralized transactions -_4
Collateralized transactions - Schedule of securities received as collateral (Detail) - JPY (¥) ¥ in Billions | Sep. 30, 2020 | Mar. 31, 2020 |
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 | ¥ 41,964 | ¥ 46,439 |
The portion of the above that has been sold (reported within Trading liabilities in the consolidated balance sheets) or repledged | ¥ 32,866 | ¥ 38,054 |
Collateralized transactions - A
Collateralized transactions - Assets owned, pledged as collateral ,primarily to stock exchanges and clearing organizations (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 | |
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Trading assets | ¥ 3,483,775 | ¥ 4,221,715 | |
Non-trading debt securities | 121,598 | 29 | |
Investments in and advances to affiliated companies | 3,871 | 2,760 | |
Equities and convertible securities [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Trading assets | 114,372 | 133,066 | |
Government and government agency securities [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Trading assets | 1,230,309 | 1,183,457 | |
Bank and corporate debt securities [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Trading assets | 18,283 | 59,734 | |
Residential mortgage-backed securities ("RMBS") [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Trading assets | 2,097,411 | 2,826,613 | |
Collateralized debt obligations ("CDOs") and other [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Trading assets | [1] | 10,729 | 12,406 |
Investment trust funds and other [Member] | |||
Financial Instruments Owned and Pledged as Collateral [Line Items] | |||
Trading assets | ¥ 12,671 | ¥ 6,439 | |
[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 | Sep. 30, 2020 | Mar. 31, 2020 |
Collateralized Transactions Assets Subject to Lien [Line Items] | ||
Assets subject to lien, amount | ¥ 1,527,800 | ¥ 1,603,894 |
Loans and receivables [Member] | ||
Collateralized Transactions Assets Subject to Lien [Line Items] | ||
Assets subject to lien, amount | 67,212 | 55,051 |
Trading assets and private equity and debt [Member] | ||
Collateralized Transactions Assets Subject to Lien [Line Items] | ||
Assets subject to lien, amount | 1,453,189 | 1,393,517 |
Office buildings, land, equipment and facilities [Member] | ||
Collateralized Transactions Assets Subject to Lien [Line Items] | ||
Assets subject to lien, amount | 5,195 | 5,258 |
Non-trading debt securities [Member] | ||
Collateralized Transactions Assets Subject to Lien [Line Items] | ||
Assets subject to lien, amount | 2,080 | 149,991 |
Other [Member] | ||
Collateralized Transactions Assets Subject to Lien [Line Items] | ||
Assets subject to lien, amount | ¥ 124 | ¥ 77 |
Securitizations and Variable _3
Securitizations and Variable Interest Entities - Additional information (Detail) - JPY (¥) ¥ in Billions | 3 Months Ended | 6 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Mar. 31, 2020 | |
Variable Interest Entity [Line Items] | |||||
Cash proceeds from SPEs in new securitizations | ¥ 61 | ¥ 41 | ¥ 184 | ¥ 118 | |
Recognized associated gain on sale | 8 | 11 | |||
Debt securities issued by SPEs with an initial fair value | 744 | 328 | 1,270 | 918 | |
Cash inflows from third parties on the sale of debt securities | 723 | 272 | 1,208 | 637 | |
Cumulative balance of financial assets transferred to SPEs | 4,528 | 4,528 | ¥ 4,177 | ||
Retained interests | 116 | 116 | ¥ 163 | ||
Cash flow on the interests held on SPEs | ¥ 5 | ¥ 6 | ¥ 10 | ¥ 10 |
Securitizations and Variable _4
Securitizations and Variable Interest Entities - Fair value of retained interests (Detail) - JPY (¥) ¥ in Billions | Sep. 30, 2020 | Mar. 31, 2020 |
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | ¥ 116 | ¥ 163 |
Government, agency and municipal securities [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | 111 | 158 |
Bank and corporate debt securities [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | ||
CMBS and RMBS [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | 5 | 5 |
Investment grade [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | 111 | 158 |
Investment grade [Member] | Government, agency and municipal securities [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | 111 | 158 |
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 [Member] | ||
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 | 5 |
Other [Member] | Government, agency and municipal securities [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | ||
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 [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | 5 | 5 |
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 [Member] | ||
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 | 111 | 158 |
Level 2 [Member] | Government, agency and municipal securities [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | 111 | 158 |
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 [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | ||
Level 3 [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | 5 | 5 |
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 [Member] | ||
Schedule of fair value of retained interests [Line Items] | ||
Fair value of retained interests | ¥ 5 | ¥ 5 |
Securitizations and Variable _5
Securitizations and Variable Interest Entities - Type and carrying value of financial assets (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 |
Liabilities [Abstract] | ||
Long-term borrowings | ¥ 8,067,822 | ¥ 7,775,665 |
Transferred to SPEs [Member] | ||
Trading assets | ||
Loans | 58,000 | 45,000 |
Liabilities [Abstract] | ||
Long-term borrowings | ¥ 58,000 | ¥ 45,000 |
Securitizations and Variable _6
Securitizations and Variable Interest Entities - Classification of consolidated VIEs' assets and liabilities (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2019 | |
Consolidated VIE assets | ||||
Cash and cash equivalents | ¥ 3,941,802 | ¥ 3,191,889 | ¥ 2,824,181 | |
Trading assets | ||||
Derivatives | [1] | 1,090,000 | 1,942,000 | |
Office buildings, land, equipment and facilities | 466,373 | 440,512 | ||
Other | 915,141 | 827,022 | ||
Total | 42,684,437 | 43,999,815 | ||
Trading liabilities | ||||
Derivatives | 1,319,000 | 1,803,000 | ||
Borrowings | ||||
Short-term borrowings | 1,346,414 | 1,486,733 | ||
Long-term borrowings | 8,067,822 | 7,775,665 | ||
Total | 39,898,383 | 41,268,551 | ||
Variable Interest Entity, primary beneficiary [Member] | ||||
Consolidated VIE assets | ||||
Cash and cash equivalents | 8,000 | 10,000 | ||
Trading assets | ||||
Equities | 602,000 | 645,000 | ||
Debt securities | 468,000 | 454,000 | ||
CMBS and RMBS | 20,000 | 43,000 | ||
Investment trust funds and other | 9,000 | 0 | ||
Derivatives | 16,000 | 19,000 | ||
Private equity and debt investments | 20,000 | 11,000 | ||
Office buildings, land, equipment and facilities | 36,000 | 15,000 | ||
Other | 20,000 | 24,000 | ||
Total | 1,199,000 | 1,221,000 | ||
Trading liabilities | ||||
Derivatives | 17,000 | 19,000 | ||
Borrowings | ||||
Short-term borrowings | 113,000 | 117,000 | ||
Long-term borrowings | 811,000 | 830,000 | ||
Other | 2,000 | 4,000 | ||
Total | ¥ 943,000 | ¥ 970,000 | ||
[1] | Net derivative assets and net derivative liabilities are generally reported within Trading assets and private equity and debt 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. |
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 Millions | Sep. 30, 2020 | Mar. 31, 2020 |
Variable Interest Entity [Line Items] | ||
Carrying amount of variable interests, Assets | ¥ 42,684,437 | ¥ 43,999,815 |
Carrying amount of variable interests, Liabilities | 39,898,383 | 41,268,551 |
Maximum exposure to loss to unconsolidated VIEs | 3,805,000 | 4,850,000 |
Equities [Member] | ||
Variable Interest Entity [Line Items] | ||
Maximum exposure to loss to unconsolidated VIEs | 38,000 | 35,000 |
Debt Securities [Member] | ||
Variable Interest Entity [Line Items] | ||
Maximum exposure to loss to unconsolidated VIEs | 57,000 | 73,000 |
CMBS and RMBS [Member] | ||
Variable Interest Entity [Line Items] | ||
Maximum exposure to loss to unconsolidated VIEs | 2,973,000 | 3,631,000 |
Investment trust funds and other [Member] | ||
Variable Interest Entity [Line Items] | ||
Maximum exposure to loss to unconsolidated VIEs | 209,000 | 170,000 |
Private equity and debt investments [Member] | ||
Variable Interest Entity [Line Items] | ||
Maximum exposure to loss to unconsolidated VIEs | 15,000 | 11,000 |
Loans [Member] | ||
Variable Interest Entity [Line Items] | ||
Maximum exposure to loss to unconsolidated VIEs | 415,000 | 835,000 |
Other [Member] | ||
Variable Interest Entity [Line Items] | ||
Maximum exposure to loss to unconsolidated VIEs | 12,000 | 11,000 |
Commitments to extend credit and other guarantees [Member] | ||
Variable Interest Entity [Line Items] | ||
Maximum exposure to loss to unconsolidated VIEs | 86,000 | 84,000 |
Variable Interest Entity, Not Primary Beneficiary [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying amount of variable interests, Assets | 3,719,000 | 4,766,000 |
Carrying amount of variable interests, Liabilities | 0 | |
Variable Interest Entity, Not Primary Beneficiary [Member] | Equities [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying amount of variable interests, Assets | 38,000 | 35,000 |
Carrying amount of variable interests, Liabilities | 0 | 0 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Debt Securities [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying amount of variable interests, Assets | 57,000 | 73,000 |
Carrying amount of variable interests, Liabilities | 0 | 0 |
Variable Interest Entity, Not Primary Beneficiary [Member] | CMBS and RMBS [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying amount of variable interests, Assets | 2,973,000 | 3,631,000 |
Carrying amount of variable interests, Liabilities | 0 | 0 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Investment trust funds and other [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying amount of variable interests, Assets | 209,000 | 170,000 |
Carrying amount of variable interests, Liabilities | 0 | 0 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Private equity and debt investments [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying amount of variable interests, Assets | 15,000 | 11,000 |
Carrying amount of variable interests, Liabilities | 0 | |
Variable Interest Entity, Not Primary Beneficiary [Member] | Loans [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying amount of variable interests, Assets | 415,000 | 835,000 |
Carrying amount of variable interests, Liabilities | 0 | 0 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Other [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying amount of variable interests, Assets | 12,000 | 11,000 |
Carrying amount of variable interests, Liabilities | 0 | 0 |
Variable Interest Entity, Not Primary Beneficiary [Member] | Commitments to extend credit and other guarantees [Member] | ||
Variable Interest Entity [Line Items] | ||
Carrying amount of variable interests, Assets | 0 | 0 |
Carrying amount of variable interests, Liabilities | ¥ 0 | ¥ 0 |
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 | Sep. 30, 2020 | Mar. 31, 2020 | |
Schedule of Financing Receivables [Line Items] | |||
Carried at fair value | ¥ 804,315 | ¥ 805,141 | |
Total | 2,344,080 | 2,857,405 | |
Total [Member] | |||
Schedule of Financing Receivables [Line Items] | |||
Carried at amortized cost | 1,539,765 | 2,052,264 | |
Carried at fair value | [1] | 804,315 | 805,141 |
Total | 2,344,080 | 2,857,405 | |
Loans at banks [Member] | |||
Schedule of Financing Receivables [Line Items] | |||
Carried at amortized cost | 527,767 | 521,715 | |
Carried at fair value | [1] | ||
Total | 527,767 | 521,715 | |
Short-term secured margin loans [Member] | |||
Schedule of Financing Receivables [Line Items] | |||
Carried at amortized cost | 340,175 | 296,833 | |
Carried at fair value | [1] | 18,255 | 8,905 |
Total | 358,430 | 305,738 | |
Inter-bank money market loans [Member] | |||
Schedule of Financing Receivables [Line Items] | |||
Carried at amortized cost | 1,382 | 865 | |
Carried at fair value | [1] | ||
Total | 1,382 | 865 | |
Corporate loans [Member] | |||
Schedule of Financing Receivables [Line Items] | |||
Carried at amortized cost | 670,441 | 1,232,851 | |
Carried at fair value | [1] | 786,060 | 796,236 |
Total | ¥ 1,456,501 | ¥ 2,029,087 | |
[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 | 3 Months Ended | 6 Months Ended | |||||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | ||||
Allowance for credit losses against loans [Roll Forward] | |||||||
Opening balance, Allowance for credit losses against loans | ¥ 9,473 | ¥ 2,269 | ¥ 11,830 | ¥ 2,290 | |||
Provision for credit losses, Allowance for credit losses against loans | (206) | 1,756 | (2,476) | 1,756 | |||
Charge-offs, Allowance for credit losses against loans | (677) | (677) | |||||
Other, Allowance for credit losses against loans | [1] | (131) | (10) | (218) | (31) | ||
Ending balance, Allowance for credit losses against loans | 8,459 | 4,015 | 8,459 | 4,015 | |||
Allowance for credit losses against receivables other than loans [Roll Forward] | |||||||
Opening balance, Allowance for credit losses against receivables other than loans | 2,881 | [2] | 1,914 | 3,154 | [2] | 1,879 | |
Provision for credit losses, Allowance for credit losses against receivables other than loans | 31 | [2] | 74 | 1,075 | [2] | 117 | |
Charge-offs, Allowance for credit losses against receivables other than loans | 7 | [2] | (3) | (1,315) | [2] | (4) | |
Other, Allowance for credit losses against receivables other than loans | [1] | (22) | [2] | (1) | (17) | [2] | (8) |
Ending balance, Allowance for credit losses against receivables other than loans | 2,897 | [2] | 1,984 | 2,897 | [2] | 1,984 | |
Total allowance for doubtful accounts [Roll Forward] | |||||||
Opening balance, Total allowance for doubtful accounts | 12,354 | 4,183 | 13,012 | 4,169 | |||
Opening balance after CECL adoption | 14,984 | 14,984 | |||||
Provision for credit losses, Total allowance for doubtful accounts | (175) | 1,830 | (1,401) | 1,873 | |||
Charge-offs, Total allowance for doubtful accounts | (670) | (3) | (1,992) | (4) | |||
Other, Total allowance for doubtful accounts | [1] | (153) | (11) | (235) | (39) | ||
Ending balance, Total allowance for doubtful accounts | 11,356 | 5,999 | 11,356 | 5,999 | |||
Revision of Prior Period, Adjustment [Member] | |||||||
Allowance for credit losses against loans [Roll Forward] | |||||||
Impact of CECL adoption | [3] | 1,970 | 1,970 | ||||
Allowance for credit losses against receivables other than loans [Roll Forward] | |||||||
Impact of CECL adoption | [2],[3] | 2 | 2 | ||||
Total allowance for doubtful accounts [Roll Forward] | |||||||
Impact of CECL adoption | [3] | 1,972 | 1,972 | ||||
Previously Reported [Member] | |||||||
Allowance for credit losses against loans [Roll Forward] | |||||||
Opening balance, Allowance for credit losses against loans | 9,860 | ||||||
Allowance for credit losses against receivables other than loans [Roll Forward] | |||||||
Opening balance, Allowance for credit losses against receivables other than loans | [2] | 3,152 | |||||
Total allowance for doubtful accounts [Roll Forward] | |||||||
Opening balance, Total allowance for doubtful accounts | 13,012 | ||||||
Loans at banks [Member] | |||||||
Allowance for credit losses against loans [Roll Forward] | |||||||
Opening balance, Allowance for credit losses against loans | 1,454 | 1,052 | 1,796 | 1,052 | |||
Provision for credit losses, Allowance for credit losses against loans | 110 | 127 | (232) | 127 | |||
Charge-offs, Allowance for credit losses against loans | (318) | (318) | |||||
Other, Allowance for credit losses against loans | [1] | ||||||
Ending balance, Allowance for credit losses against loans | 1,246 | 1,179 | 1,246 | 1,179 | |||
Loans at banks [Member] | Revision of Prior Period, Adjustment [Member] | |||||||
Allowance for credit losses against loans [Roll Forward] | |||||||
Impact of CECL adoption | [3] | 232 | 232 | ||||
Loans at banks [Member] | Previously Reported [Member] | |||||||
Allowance for credit losses against loans [Roll Forward] | |||||||
Opening balance, Allowance for credit losses against loans | 1,564 | ||||||
Short-term secured margin loans [Member] | |||||||
Allowance for credit losses against loans [Roll Forward] | |||||||
Opening balance, Allowance for credit losses against loans | 292 | 373 | 352 | 370 | |||
Provision for credit losses, Allowance for credit losses against loans | 76 | ||||||
Charge-offs, Allowance for credit losses against loans | (359) | (359) | |||||
Other, Allowance for credit losses against loans | [1] | (9) | 1 | 7 | 4 | ||
Ending balance, Allowance for credit losses against loans | 374 | 374 | |||||
Short-term secured margin loans [Member] | Revision of Prior Period, Adjustment [Member] | |||||||
Allowance for credit losses against loans [Roll Forward] | |||||||
Impact of CECL adoption | [3] | ||||||
Short-term secured margin loans [Member] | Previously Reported [Member] | |||||||
Allowance for credit losses against loans [Roll Forward] | |||||||
Opening balance, Allowance for credit losses against loans | 352 | ||||||
Corporate loans [Member] | |||||||
Allowance for credit losses against loans [Roll Forward] | |||||||
Opening balance, Allowance for credit losses against loans | 7,727 | 844 | 9,682 | 868 | |||
Provision for credit losses, Allowance for credit losses against loans | (392) | 1,629 | (2,244) | 1,629 | |||
Charge-offs, Allowance for credit losses against loans | 0 | 0 | |||||
Other, Allowance for credit losses against loans | [1] | (122) | (11) | (225) | (35) | ||
Ending balance, Allowance for credit losses against loans | 7,213 | ¥ 2,462 | 7,213 | ¥ 2,462 | |||
Corporate loans [Member] | Revision of Prior Period, Adjustment [Member] | |||||||
Allowance for credit losses against loans [Roll Forward] | |||||||
Impact of CECL adoption | [3] | ¥ 1,738 | 1,738 | ||||
Corporate loans [Member] | Previously Reported [Member] | |||||||
Allowance for credit losses against loans [Roll Forward] | |||||||
Opening balance, Allowance for credit losses against loans | ¥ 7,944 | ||||||
[1] | Includes the effect of foreign exchange movements. | ||||||
[2] | Includes collateralized agreements, customer contract assets and receivables and other receivables. | ||||||
[3] | The balance recognized on April 1, 2020 on adoption of ASC 326. |
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) ¥ in Millions | Sep. 30, 2020JPY (¥) | |
Financing receivable, recorded investment [Line items] | ||
2020 | ¥ 544,797 | |
2019 | 248,386 | |
2018 | 194,110 | |
2017 | 37,872 | |
2016 | 43,933 | |
2015 or earlier | 60,386 | |
Revolving | 410,281 | |
Total loans | 1,539,765 | |
AAA-BBB [Member] | Secured loans at banks [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | 106,020 | |
2019 | 31,372 | |
2018 | 12,902 | |
2017 | 4,309 | |
2016 | 4,707 | |
2015 or earlier | 11,192 | |
Revolving | 682 | |
Total loans | 171,184 | |
AAA-BBB [Member] | Unsecured loans at banks [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | 16,179 | |
2019 | 30,941 | |
2018 | 20,957 | |
2017 | 9,673 | |
2016 | 22,947 | |
2015 or earlier | 7,555 | |
Revolving | 7,299 | |
Total loans | 115,551 | |
AAA-BBB [Member] | Short-term secured margin loans [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | ||
2019 | ||
2018 | ||
2017 | ||
2016 | ||
2015 or earlier | ||
Revolving | ||
Total loans | ||
AAA-BBB [Member] | Unsecured inter-bank money market loans [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | 1,382 | |
2019 | ||
2018 | ||
2017 | ||
2016 | ||
2015 or earlier | ||
Revolving | ||
Total loans | 1,382 | |
AAA-BBB [Member] | Secured corporate loans [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | 35,342 | |
2019 | 107,155 | |
2018 | 10,054 | |
2017 | 6,774 | |
2016 | 1,247 | |
2015 or earlier | 22,805 | |
Revolving | ||
Total loans | 183,377 | |
AAA-BBB [Member] | Unsecured corporate loans [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | 6,537 | |
2019 | ||
2018 | ||
2017 | ||
2016 | ||
2015 or earlier | ||
Revolving | ||
Total loans | 6,537 | |
BB-CCC [Member] | Secured loans at banks [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | 147,268 | |
2019 | 25,390 | |
2018 | 2,388 | |
2017 | ||
2016 | 768 | |
2015 or earlier | 9,608 | |
Revolving | 31 | |
Total loans | 185,453 | |
BB-CCC [Member] | Unsecured loans at banks [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | ||
2019 | 244 | |
2018 | ||
2017 | ||
2016 | 1,200 | |
2015 or earlier | ||
Revolving | ||
Total loans | 1,444 | |
BB-CCC [Member] | Short-term secured margin loans [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | ||
2019 | ||
2018 | ||
2017 | ||
2016 | ||
2015 or earlier | ||
Revolving | ||
Total loans | ||
BB-CCC [Member] | Unsecured inter-bank money market loans [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | ||
2019 | ||
2018 | ||
2017 | ||
2016 | ||
2015 or earlier | ||
Revolving | ||
Total loans | ||
BB-CCC [Member] | Secured corporate loans [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | 34,429 | |
2019 | 49,151 | |
2018 | 79,001 | |
2017 | 17,087 | |
2016 | 8,885 | |
2015 or earlier | 9,094 | |
Revolving | 205,008 | |
Total loans | 402,655 | |
BB-CCC [Member] | Unsecured corporate loans [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | ||
2019 | 3,917 | |
2018 | ||
2017 | ||
2016 | ||
2015 or earlier | 31 | |
Revolving | ||
Total loans | 3,948 | |
CC-D [Member] | Secured loans at banks [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | ||
2019 | ||
2018 | ||
2017 | ||
2016 | ||
2015 or earlier | ||
Revolving | ||
Total loans | ||
CC-D [Member] | Unsecured loans at banks [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | ||
2019 | ||
2018 | ||
2017 | ||
2016 | ||
2015 or earlier | ||
Revolving | ||
Total loans | ||
CC-D [Member] | Short-term secured margin loans [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | ||
2019 | ||
2018 | ||
2017 | ||
2016 | ||
2015 or earlier | ||
Revolving | ||
Total loans | ||
CC-D [Member] | Unsecured inter-bank money market loans [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | ||
2019 | ||
2018 | ||
2017 | ||
2016 | ||
2015 or earlier | ||
Revolving | ||
Total loans | ||
CC-D [Member] | Secured corporate loans [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | ||
2019 | ||
2018 | ||
2017 | ||
2016 | ||
2015 or earlier | ||
Revolving | ||
Total loans | ||
CC-D [Member] | Unsecured corporate loans [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | ||
2019 | ||
2018 | ||
2017 | ||
2016 | ||
2015 or earlier | ||
Revolving | ||
Total loans | ||
Others [Member] | Secured loans at banks [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | 54,135 | [1] |
2019 | [1] | |
2018 | [1] | |
2017 | [1] | |
2016 | [1] | |
2015 or earlier | [1] | |
Revolving | [1] | |
Total loans | 54,135 | [1] |
Others [Member] | Unsecured loans at banks [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | [1] | |
2019 | [1] | |
2018 | [1] | |
2017 | [1] | |
2016 | [1] | |
2015 or earlier | [1] | |
Revolving | [1] | |
Total loans | [1] | |
Others [Member] | Short-term secured margin loans [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | 143,295 | [1] |
2019 | 136 | [1] |
2018 | [1] | |
2017 | [1] | |
2016 | [1] | |
2015 or earlier | [1] | |
Revolving | 196,744 | [1] |
Total loans | 340,175 | [1] |
Others [Member] | Unsecured inter-bank money market loans [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | [1] | |
2019 | [1] | |
2018 | [1] | |
2017 | [1] | |
2016 | [1] | |
2015 or earlier | [1] | |
Revolving | [1] | |
Total loans | [1] | |
Others [Member] | Secured corporate loans [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | 8 | [1] |
2019 | 33 | [1] |
2018 | 12 | [1] |
2017 | 29 | [1] |
2016 | 4,179 | [1] |
2015 or earlier | 88 | [1] |
Revolving | 517 | [1] |
Total loans | 4,866 | [1] |
Others [Member] | Unsecured corporate loans [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | 202 | [1] |
2019 | 47 | [1] |
2018 | 68,796 | [1] |
2017 | [1] | |
2016 | [1] | |
2015 or earlier | 13 | [1] |
Revolving | [1] | |
Total loans | 69,058 | [1] |
Total [Member] | Secured loans at banks [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | 307,423 | |
2019 | 56,762 | |
2018 | 15,290 | |
2017 | 4,309 | |
2016 | 5,475 | |
2015 or earlier | 20,800 | |
Revolving | 713 | |
Total loans | 410,772 | |
Total [Member] | Unsecured loans at banks [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | 16,179 | |
2019 | 31,185 | |
2018 | 20,957 | |
2017 | 9,673 | |
2016 | 24,147 | |
2015 or earlier | 7,555 | |
Revolving | 7,299 | |
Total loans | 116,995 | |
Total [Member] | Short-term secured margin loans [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | 143,295 | |
2019 | 136 | |
2018 | ||
2017 | ||
2016 | ||
2015 or earlier | ||
Revolving | 196,744 | |
Total loans | 340,175 | |
Total [Member] | Unsecured inter-bank money market loans [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | 1,382 | |
2019 | ||
2018 | ||
2017 | ||
2016 | ||
2015 or earlier | ||
Revolving | ||
Total loans | 1,382 | |
Total [Member] | Secured corporate loans [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | 69,779 | |
2019 | 156,339 | |
2018 | 89,067 | |
2017 | 23,890 | |
2016 | 14,311 | |
2015 or earlier | 31,987 | |
Revolving | 205,525 | |
Total loans | 590,898 | |
Total [Member] | Unsecured corporate loans [Member] | ||
Financing receivable, recorded investment [Line items] | ||
2020 | 6,739 | |
2019 | 3,964 | |
2018 | 68,796 | |
2017 | ||
2016 | ||
2015 or earlier | 44 | |
Revolving | ||
Total loans | ¥ 79,543 | |
[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 | Sep. 30, 2020 | Mar. 31, 2020 | |
Operating Lease [Line Items] | |||
Cost | ¥ 25,727 | ¥ 16,425 | |
Accumulated depreciation | (1,235) | (933) | |
Net carrying amount | 24,492 | 15,492 | |
Real estate [Member] | |||
Operating Lease [Line Items] | |||
Cost | [1] | 354 | 354 |
Accumulated depreciation | (287) | (285) | |
Net carrying amount | 67 | 69 | |
Aircraft [Member] | |||
Operating Lease [Line Items] | |||
Cost | 25,373 | 16,071 | |
Accumulated depreciation | (948) | (648) | |
Net carrying amount | ¥ 24,425 | ¥ 15,423 | |
[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 | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Leases [Abstract] | ||||
Recognized rental income | ¥ 401 | ¥ 713 | ¥ 726 | ¥ 1,735 |
Leases - Summary of Lessee oper
Leases - Summary of Lessee operating lease liability maturity (Detail) ¥ in Millions | Sep. 30, 2020JPY (¥) |
Leases [Abstract] | |
Less than 1 year | ¥ 2,130 |
1 to 2 years | 2,124 |
2 to 3 years | 2,064 |
3 to 4 years | 2,064 |
4 to 5 years | 2,064 |
More than 5 years | 12,738 |
Total | ¥ 23,184 |
Business Combinations - Additio
Business Combinations - Additional Information (Detail) - JPY (¥) ¥ in Millions | Apr. 01, 2020 | Sep. 30, 2020 |
Business Combinations [Abstract] | ||
Business acquisition date of acquisition agreement | Apr. 1, 2020 | |
Business acquisition percentage of voting interests acquired | 100.00% | 100.00% |
Business acquisition name of acquired entity | Greentech Capital, LLC | 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 | Sep. 30, 2020 | Mar. 31, 2020 | |
Other assets-Other: | |||
Securities received as collateral | ¥ 316,631 | ¥ 290,269 | |
Goodwill and other intangible assets | [1] | 28,864 | 17,783 |
Deferred tax assets | 17,583 | 13,431 | |
Investments in equity securities for other than operating purposes | [2] | 222,516 | 141,855 |
Prepaid expenses | 19,727 | 16,262 | |
Other | 309,820 | 347,422 | |
Total, Other assets-Other | 915,141 | 827,022 | |
Other liabilities: | |||
Obligation to return securities received as collateral | 316,631 | 290,269 | |
Accrued income taxes | 21,081 | 16,362 | |
Other accrued expenses | 360,813 | 396,560 | |
Other | [3] | 350,940 | 331,257 |
Total, Other liabilities | ¥ 1,049,465 | ¥ 1,034,448 | |
[1] | For the six months ended September 30, 2020, Nomura recognized goodwill attributable to the Wholesale segment as a result of acquiring 100% of the ownership interests in Greentech Capital, LLC. See Note.9 “Business combination“ for further information. | ||
[2] | Includes equity securities without readily determinable fair value of ¥65,365 million as of September 30, 2020. | ||
[3] | Includes operating lease liabilities. |
Other assets-Other _ Other li_4
Other assets-Other / Other liabilities - Schedule of Other assets-Other and Other liabilities (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | Apr. 01, 2020 | Sep. 30, 2020 |
Other Assets Other and Other Liabilities [Line Items] | ||
Business acquisition percentage of voting interests acquired | 100.00% | 100.00% |
Business acquisition name of acquired entity | Greentech Capital, LLC | Greentech Capital, LLC |
Equity securities without readily determinable fair value | ¥ 65,365 |
Earnings per share - Earnings p
Earnings per share - Earnings per share (Basic and Diluted) (Detail) - JPY (¥) ¥ / shares in Units, ¥ in Millions, shares in Millions | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Basic- | ||||
Net income attributable to NHI shareholders | ¥ 67,642 | ¥ 138,574 | ¥ 210,158 | ¥ 194,407 |
Weighted average number of shares outstanding | 3,056,897,704 | 3,290,622,990 | 3,051,543,718 | 3,301,269,085 |
Net income attributable to NHI shareholders per share | ¥ 22.13 | ¥ 42.11 | ¥ 68.87 | ¥ 58.89 |
Diluted- | ||||
Net income attributable to NHI shareholders | ¥ 67,625 | ¥ 138,548 | ¥ 210,117 | ¥ 194,363 |
Weighted average number of shares outstanding | 3,143,092,237 | 3,360,616,509 | 3,131,423,608 | 3,370,803,851 |
Net income attributable to NHI shareholders per share | ¥ 21.52 | ¥ 41.23 | ¥ 67.10 | ¥ 57.66 |
Earnings per share - Additional
Earnings per share - Additional information (Detail) - shares | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Earnings Per Share [Abstract] | ||||
Antidilutive stock options and other stock-based compensation plans to purchase or deliver | 15,450,900 | 15,496,600 | 15,450,900 | 15,496,600 |
Employee benefit plans - Net pe
Employee benefit plans - Net periodic benefit cost for defined benefit plans (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Employee Benefit Plans [Abstract] | ||||
Service cost | ¥ 1,681 | ¥ 3,021 | ¥ 3,361 | ¥ 6,057 |
Interest cost | 447 | 453 | 893 | 906 |
Expected return on plan assets | (1,457) | (1,510) | (2,913) | (3,019) |
Amortization of net actuarial losses | 1,379 | 1,323 | 2,759 | 2,647 |
Amortization of prior service cost | (381) | (264) | (761) | (528) |
Net periodic benefit cost | ¥ 1,669 | ¥ 3,023 | ¥ 3,339 | ¥ 6,063 |
Restructuring initiatives - Add
Restructuring initiatives - Additional information (Detail) - JPY (¥) ¥ in Millions | 6 Months Ended | |
Sep. 30, 2019 | Mar. 31, 2020 | |
Restructuring Initiatives [Abstract] | ||
Liabilities relating to restructuring costs including currency translation adjustments | ¥ 507 | |
Amount paid as severance costs | 9,305 | |
Branch consolidation costs | ¥ 4,231 | |
Liabilities relating to branch consolidation costs | ¥ 813 |
Income Taxes - Additional infor
Income Taxes - Additional information (Detail) - JPY (¥) ¥ in Billions | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Income Taxes [Line Items] | ||||
Effective tax rate | 17.60% | (9.20%) | 19.70% | 3.00% |
Effective statutory tax rate | 31.00% | 31.00% | 31.00% | 31.00% |
Amount of tax effect from non-taxable dividend | ¥ 50 | ¥ 51 | ||
Impact on effective tax rate | 38.60% | 25.30% |
Other comprehensive income (l_3
Other comprehensive income (loss) - Changes in Accumulated other comprehensive income (loss) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 6 Months Ended | ||||||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |||||
Accumulated other comprehensive income (loss) [Line Items] | ||||||||
Balance at beginning of period | ¥ (25,973) | ¥ (60,455) | ¥ (26,105) | ¥ (29,050) | ||||
Other comprehensive income (loss) before reclassifications | (60,849) | (9,111) | (52,427) | (40,440) | ||||
Reclassifications out of accumulated other comprehensive income (loss) | (1,884) | [1] | 2,123 | [1] | (10,174) | [2] | 2,047 | [1] |
Net change during the period | (62,733) | (6,988) | (62,601) | (38,393) | ||||
Balance at end of period | (88,706) | (67,443) | (88,706) | (67,443) | ||||
Cumulative translation adjustments [Member] | ||||||||
Accumulated other comprehensive income (loss) [Line Items] | ||||||||
Balance at beginning of period | (26,958) | (13,843) | (26,274) | 17,833 | ||||
Other comprehensive income (loss) before reclassifications | (17,731) | (7,567) | (18,395) | (39,259) | ||||
Reclassifications out of accumulated other comprehensive income (loss) | (1,792) | [1] | 608 | [1] | (1,812) | [2] | 624 | [1] |
Net change during the period | (19,523) | (6,959) | (20,207) | (38,635) | ||||
Balance at end of period | (46,481) | (20,802) | (46,481) | (20,802) | ||||
Pension liability adjustment [Member] | ||||||||
Accumulated other comprehensive income (loss) [Line Items] | ||||||||
Balance at beginning of period | (60,263) | (68,860) | (62,571) | (71,107) | ||||
Other comprehensive income (loss) before reclassifications | (277) | 119 | 1,051 | 1,635 | ||||
Reclassifications out of accumulated other comprehensive income (loss) | 1,359 | [1] | 1,551 | [1] | 2,339 | [2] | 2,282 | [1] |
Net change during the period | 1,082 | 1,670 | 3,390 | 3,917 | ||||
Balance at end of period | (59,181) | (67,190) | (59,181) | (67,190) | ||||
Own credit adjustments [Member] | ||||||||
Accumulated other comprehensive income (loss) [Line Items] | ||||||||
Balance at beginning of period | 61,248 | 22,248 | 62,740 | 24,224 | ||||
Other comprehensive income (loss) before reclassifications | (42,841) | (1,663) | (35,083) | (2,816) | ||||
Reclassifications out of accumulated other comprehensive income (loss) | (1,451) | [1] | (36) | [1] | (10,701) | [2] | (859) | [1] |
Net change during the period | (44,292) | (1,699) | (45,784) | (3,675) | ||||
Balance at end of period | ¥ 16,956 | ¥ 20,549 | ¥ 16,956 | ¥ 20,549 | ||||
[1] | Reclassifications out of accumulated other comprehensive income (loss) were not significant. | |||||||
[2] | Change in own credit adjustments, net of tax in other comprehensive income (loss) for six months ended September 30, 2020 includes reclassification adjustment of ¥12,846 million recognized in Revenue—Net gain on trading. The amount of Income tax expense allocated to this reclassification adjustment is ¥2,145 million. See Note 2 “Fair value measurements” for further information. |
Other comprehensive income (l_4
Other comprehensive income (loss) - Changes in Accumulated other comprehensive income (loss) (Parenthetical) (Detail) - Reclassifications out of accumulated other comprehensive income (loss) [Member] - Cumulative translation adjustments [Member] ¥ in Millions | 6 Months Ended |
Sep. 30, 2020JPY (¥) | |
Affected line items in consolidated statements of income [Line Items] | |
Reclassification adjustment for profit (loss) | ¥ 12,846 |
Amount of income tax loss allocated to reclassification adjustment | ¥ 2,145 |
Commitments, contingencies an_3
Commitments, contingencies and guarantees - Commitments outstanding (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 |
Commitments [Line Items] | ||
Commitments to extend credit | ¥ 1,926,878 | ¥ 2,247,433 |
Commitments to invest | 26,744 | 15,278 |
Liquidity facilities to central clearing counterparties [Member] | ||
Commitments [Line Items] | ||
Commitments to extend credit | 955,800 | 1,288,774 |
Other commitments to extend credit [Member] | ||
Commitments [Line Items] | ||
Commitments to extend credit | ¥ 971,078 | ¥ 958,659 |
Commitments, contingencies an_4
Commitments, contingencies and guarantees - Maturities of commitments (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 |
Commitments and Contingencies Disclosure [Line Items] | ||
Commitments to extend credit | ¥ 1,926,878 | ¥ 2,247,433 |
Commitments to invest | 26,744 | 15,278 |
Liquidity facilities to central clearing counterparties [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Commitments to extend credit | 955,800 | 1,288,774 |
Other commitments to extend credit [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Commitments to extend credit | 971,078 | ¥ 958,659 |
Less than 1 year [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Commitments to extend credit | 1,076,908 | |
Commitments to invest | 1,885 | |
Less than 1 year [Member] | Liquidity facilities to central clearing counterparties [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Commitments to extend credit | 955,800 | |
Less than 1 year [Member] | Other commitments to extend credit [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Commitments to extend credit | 121,108 | |
1 to 3 years [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Commitments to extend credit | 156,468 | |
Commitments to invest | 2,068 | |
1 to 3 years [Member] | Other commitments to extend credit [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Commitments to extend credit | 156,468 | |
3 to 5 years [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Commitments to extend credit | 207,002 | |
Commitments to invest | 4,878 | |
3 to 5 years [Member] | Other commitments to extend credit [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Commitments to extend credit | 207,002 | |
More than 5 years [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Commitments to extend credit | 486,500 | |
Commitments to invest | 17,913 | |
More than 5 years [Member] | Other commitments to extend credit [Member] | ||
Commitments and Contingencies Disclosure [Line Items] | ||
Commitments to extend credit | ¥ 486,500 |
Commitments, contingencies an_5
Commitments, contingencies and guarantees - Additional information (Detail) $ in Millions, ¥ in Billions | Nov. 08, 2019EUR (€) | Nov. 08, 2019USD ($) | May 22, 2018EUR (€) | Jun. 30, 2016USD ($) | May 31, 2019EUR (€) | Jan. 31, 2018EUR (€) | Sep. 30, 2017USD ($) | Jul. 31, 2013EUR (€) | Mar. 31, 2013EUR (€) | Dec. 18, 2020JPY (¥) | Sep. 30, 2020USD ($) | Jun. 30, 2019EUR (€) | Jul. 31, 2018EUR (€) | Mar. 31, 2017USD ($) | Sep. 23, 2015EUR (€) | Mar. 31, 2014EUR (€) | Jun. 30, 2012USD ($) | Nov. 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 | ¥ | ¥ 43 | ||||||||||||||||||
Tax notice issued by tax authorities in Pescara, Italy [Member] | |||||||||||||||||||
Contingencies | |||||||||||||||||||
Reimbursement of refund | € 33,800,000 | ||||||||||||||||||
Tax credit refunds | € 38,000,000 | ||||||||||||||||||
Two actions by Fairfield Sentry Ltd. and Fairfield Sigma Ltd. [Member] | |||||||||||||||||||
Contingencies | |||||||||||||||||||
Recovery of payment | $ | $ 35 | ||||||||||||||||||
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 | € 1,100,000,000 | ||||||||||||||||||
Recovery of payment | € 1,500,000,000 | ||||||||||||||||||
Amount of discount based on the settlement agreement | € 440,000,000 | ||||||||||||||||||
Action by Fondazione Monte dei Paschi di Siena [Member] | |||||||||||||||||||
Contingencies | |||||||||||||||||||
Amount of damages sought | € 315,200,000 | ||||||||||||||||||
Action by Alken Fund Sicav and Alken Luxembourg S.A [Member] | |||||||||||||||||||
Contingencies | |||||||||||||||||||
Amount of damages sought | € 434,000,000 | ||||||||||||||||||
Action by York Global Finance Offshore BDH (Luxembourg) Sarl and a number of seemingly related funds [Member] | |||||||||||||||||||
Contingencies | |||||||||||||||||||
Amount of damages sought | € 186,700,000 | ||||||||||||||||||
Action by the Commissione Nazionale per le Societa e la Borsa [Member] | |||||||||||||||||||
Contingencies | |||||||||||||||||||
Amount of payment | € 100,000 | ||||||||||||||||||
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 | € 165,000,000 | ||||||||||||||||||
NIP Guilty [Member] | |||||||||||||||||||
Contingencies | |||||||||||||||||||
Amount of damages sought | € 3,450,000 | ||||||||||||||||||
Litigation settlement amount | $ | $ 88 |
Commitments, contingencies an_6
Commitments, contingencies and guarantees - Information on derivative contracts and standby letters of credit and other guarantees (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 | |
Derivative contracts [Member] | |||
Guarantees [Line Items] | |||
Carrying value | [1],[2] | ¥ 5,736,546 | ¥ 7,197,647 |
Maximum potential payout /Notional total | [1],[2] | 256,731,733 | 279,734,884 |
Standby letters of credit and other guarantees [Member] | |||
Guarantees [Line Items] | |||
Maximum potential payout /Notional total | ¥ 14,592 | ¥ 2,351 | |
[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. |
Commitments, contingencies an_7
Commitments, contingencies and guarantees - Maturity information on derivative contracts and standby letters of credit and other guarantees (Detail) - JPY (¥) ¥ in Millions | Sep. 30, 2020 | Mar. 31, 2020 | |
Derivative contracts [Member] | |||
Guarantees [Line Items] | |||
Carrying value | [1],[2] | ¥ 5,736,546 | ¥ 7,197,647 |
Maximum Potential Payout /Notional | [1],[2] | 256,731,733 | 279,734,884 |
Derivative contracts [Member] | Less than 1 year [Member] | |||
Guarantees [Line Items] | |||
Maximum Potential Payout /Notional | 62,259,465 | ||
Derivative contracts [Member] | 1 to 3 years [Member] | |||
Guarantees [Line Items] | |||
Maximum Potential Payout /Notional | 62,506,586 | ||
Derivative contracts [Member] | 3 to 5 years [Member] | |||
Guarantees [Line Items] | |||
Maximum Potential Payout /Notional | 34,342,738 | ||
Derivative contracts [Member] | More than 5 years [Member] | |||
Guarantees [Line Items] | |||
Maximum Potential Payout /Notional | 97,622,944 | ||
Standby letters of credit and other guarantees [Member] | |||
Guarantees [Line Items] | |||
Maximum Potential Payout /Notional | 14,592 | ¥ 2,351 | |
Standby letters of credit and other guarantees [Member] | Less than 1 year [Member] | |||
Guarantees [Line Items] | |||
Maximum Potential Payout /Notional | 988 | ||
Standby letters of credit and other guarantees [Member] | 1 to 3 years [Member] | |||
Guarantees [Line Items] | |||
Maximum Potential Payout /Notional | 12,086 | ||
Standby letters of credit and other guarantees [Member] | 3 to 5 years [Member] | |||
Guarantees [Line Items] | |||
Maximum Potential Payout /Notional | 109 | ||
Standby letters of credit and other guarantees [Member] | More than 5 years [Member] | |||
Guarantees [Line Items] | |||
Maximum Potential Payout /Notional | ¥ 1,409 | ||
[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. |
Segment and geographic inform_3
Segment and geographic information - Business segments' results (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Segment Reporting Information [Line Items] | ||||
Non-interest revenue | ¥ 334,893 | ¥ 357,194 | ¥ 740,097 | ¥ 672,014 |
Net interest revenue | 32,151 | 25,357 | 85,391 | 45,452 |
Net revenue | 367,044 | 382,551 | 825,488 | 717,466 |
Non-interest expenses | 285,371 | 254,894 | 564,307 | 512,089 |
Income (loss) before income taxes | 81,673 | 127,657 | 261,181 | 205,377 |
Retail [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Non-interest revenue | 92,331 | 75,350 | 172,676 | 154,373 |
Net interest revenue | 464 | 1,532 | 1,197 | 3,149 |
Net revenue | 92,795 | 76,882 | 173,873 | 157,522 |
Non-interest expenses | 69,970 | 71,621 | 135,979 | 144,143 |
Income (loss) before income taxes | 22,825 | 5,261 | 37,894 | 13,379 |
Asset Management [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Non-interest revenue | 27,132 | 26,384 | 61,487 | 61,597 |
Net interest revenue | (290) | (708) | (621) | (1,421) |
Net revenue | 26,842 | 25,676 | 60,866 | 60,176 |
Non-interest expenses | 15,442 | 15,630 | 30,312 | 31,988 |
Income (loss) before income taxes | 11,400 | 10,046 | 30,554 | 28,188 |
Wholesale [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Non-interest revenue | 185,601 | 134,934 | 376,148 | 271,558 |
Net interest revenue | 34,704 | 21,764 | 92,826 | 44,626 |
Net revenue | 220,305 | 156,698 | 468,974 | 316,184 |
Non-interest expenses | 154,828 | 137,777 | 315,628 | 277,256 |
Income (loss) before income taxes | 65,477 | 18,921 | 153,346 | 38,928 |
Other (Incl. elimination) [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Non-interest revenue | 29,829 | 120,526 | 129,786 | 184,486 |
Net interest revenue | (2,727) | 2,769 | (8,011) | (902) |
Net revenue | 27,102 | 123,295 | 121,775 | 183,584 |
Non-interest expenses | 45,131 | 29,866 | 82,388 | 58,702 |
Income (loss) before income taxes | ¥ (18,029) | ¥ 93,429 | ¥ 39,387 | ¥ 124,882 |
Segment and geographic inform_4
Segment and geographic information - Major components of Income (loss) before income taxes in "Other" (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 6 Months Ended | |||||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | ||||
Segment Reporting Information [Line Items] | |||||||
Total | ¥ 81,673 | ¥ 127,657 | ¥ 261,181 | ¥ 205,377 | |||
Other (Incl. elimination) [Member] | |||||||
Segment Reporting Information [Line Items] | |||||||
Net gain (loss) related to economic hedging transactions | (4,965) | 7,043 | 612 | 19,837 | |||
Realized gain on investments in equity securities held for operating purposes | 124 | 1,254 | 809 | 1,330 | |||
Equity in earnings of affiliates | 5,251 | 8,009 | 11,860 | 16,274 | |||
Corporate items | (16,005) | (4,635) | 29,085 | [1] | (3,244) | [1] | |
Other | [2],[3] | (2,434) | 81,758 | (2,979) | 90,685 | ||
Total | ¥ (18,029) | ¥ 93,429 | ¥ 39,387 | ¥ 124,882 | |||
[1] | The income before income taxes for the six months ended September 30, 2020 includes a gain of ¥ 71,075 million which represents the difference between the fair value of the assets acquired and the carrying value of the assets transferred by Nomura as a result of the rights conversion of the Tokyo Nihonbashi district redevelopment project. | ||||||
[2] | Includes the impact of Nomura’s own creditworthiness. | ||||||
[3] | The income before income taxes for the six months and three months ended September 30, 2019 includes gain of ¥73,293 million from the sale of Nomura Research Institute, Ltd. ordinary shares. |
Segment and geographic inform_5
Segment and geographic information - Major components of Income (loss) before income taxes in "Other" (Parenthetical) (Detail) - JPY (¥) ¥ in Millions | 3 Months Ended | 6 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Nomura Research Institute, Ltd [Member] | |||
Gain on the sale of a part of the ordinary shares | ¥ 73,293 | ¥ 71,075 | ¥ 73,293 |
Segment and geographic inform_6
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 | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | |
Segment and Geographic Information [Abstract] | ||||
Net revenue | ¥ 367,044 | ¥ 382,551 | ¥ 825,488 | ¥ 717,466 |
Unrealized gain (loss) on investments in equity securities held for operating purposes | 1,954 | 829 | 4,257 | (2,085) |
Consolidated net revenue | 368,998 | 383,380 | 829,745 | 715,381 |
Non-interest expenses | 285,371 | 254,894 | 564,307 | 512,089 |
Unrealized gain on investments in equity securities held for operating purposes | 0 | 0 | ||
Consolidated non-interest expenses | 285,371 | 254,894 | 564,307 | 512,089 |
Income before income taxes | 81,673 | 127,657 | 261,181 | 205,377 |
Unrealized gain (loss) on investments in equity securities held for operating purposes | 1,954 | 829 | 4,257 | (2,085) |
Consolidated income before income taxes | ¥ 83,627 | ¥ 128,486 | ¥ 265,438 | ¥ 203,292 |
Segment and geographic inform_7
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 | 3 Months Ended | 6 Months Ended | ||||
Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2020 | Sep. 30, 2019 | Mar. 31, 2020 | ||
Net revenue, income (loss) before income taxes and long-lived assets | ||||||
Consolidated, Net revenue | ¥ 368,998 | ¥ 383,380 | ¥ 829,745 | ¥ 715,381 | ||
Consolidated, Income (loss) before income taxes | 83,627 | 128,486 | 265,438 | 203,292 | ||
Consolidated, Long-lived assets | 495,658 | 495,658 | ¥ 458,913 | |||
Americas [Member] | ||||||
Net revenue, income (loss) before income taxes and long-lived assets | ||||||
Consolidated, Net revenue | [1] | 112,903 | 52,735 | 222,091 | 125,274 | |
Consolidated, Income (loss) before income taxes | 39,159 | 1,143 | 79,157 | 15,409 | ||
Consolidated, Long-lived assets | 93,175 | 93,175 | 84,904 | |||
Europe [Member] | ||||||
Net revenue, income (loss) before income taxes and long-lived assets | ||||||
Consolidated, Net revenue | 39,510 | 30,091 | 59,681 | 60,921 | ||
Consolidated, Income (loss) before income taxes | (8,437) | (1,490) | 6,580 | 3,039 | ||
Consolidated, Long-lived assets | 61,857 | 61,857 | 52,179 | |||
Asia and Oceania [Member] | ||||||
Net revenue, income (loss) before income taxes and long-lived assets | ||||||
Consolidated, Net revenue | 17,369 | 16,441 | 27,605 | 33,257 | ||
Consolidated, Income (loss) before income taxes | 12,720 | 10,530 | 21,915 | 22,172 | ||
Consolidated, Long-lived assets | 28,016 | 28,016 | 29,618 | |||
Subtotal [Member] | ||||||
Net revenue, income (loss) before income taxes and long-lived assets | ||||||
Consolidated, Net revenue | 169,782 | 99,267 | 309,377 | 219,452 | ||
Consolidated, Income (loss) before income taxes | 43,442 | 10,183 | 107,652 | 40,620 | ||
Consolidated, Long-lived assets | 183,048 | 183,048 | 166,701 | |||
Japan [Member] | ||||||
Net revenue, income (loss) before income taxes and long-lived assets | ||||||
Consolidated, Net revenue | 199,216 | 284,113 | 520,368 | 495,929 | ||
Consolidated, Income (loss) before income taxes | 40,185 | ¥ 118,303 | 157,786 | ¥ 162,672 | ||
Consolidated, Long-lived assets | ¥ 312,610 | ¥ 312,610 | ¥ 292,212 | |||
[1] | There is no revenue derived from transactions with a single major external customer. |
Subsequent events - Additional
Subsequent events - Additional Information (Details) | Dec. 01, 2020shares |
Treasury Stock Shares Retired | 260,000,000 |
Treasury Stock Shares Cancelled | 7.40% |
Treasury Stock Shares Cancellation Date | Dec. 1, 2020 |