(NMR) Nomura Holdings, Inc. Business Model Canvas Research |
Fully Editable: Tailor To Your Needs In Excel Or Sheets
Professional Design: Trusted, Industry-Standard Templates
Investor-Approved Valuation Models
MAC/PC Compatible, Fully Unlocked
No Expertise Is Needed; Easy To Follow
(NMR) Nomura Holdings, Inc. Complete Analysis Pack
Nomura Business Model Canvas: Value Creation Made Clear
Explore how Nomura Holdings, Inc. creates value across investment banking, wealth management, and market services. This concise Business Model Canvas breaks down the company’s key partners, revenue streams, and cost structure in a clear, practical format. Download the full version to gain deeper strategic insight and sharpen your analysis.
Partnerships
Japanese and global issuers
Nomura Holdings, Inc. partners with Japanese and global issuers across 4 key channels: share issuances, debt offerings, convertible securities, and private placements. These ties feed the Wholesale division’s financing and advisory work for corporate, sovereign, and financial clients.
Stock exchanges and trading venues
Nomura Holdings, Inc. depends on major exchanges and trading venues to route equity and fixed income orders, support agency execution, market-making, and tight price discovery. In FY2024/25, these venues were core to giving clients access to deep, liquid markets across Japan, the U.S., Europe, and Asia.
Clearing, custodial, and settlement institutions
Nomura Holdings, Inc. relies on clearing, custody, and settlement partners to move trades through T+1 market cycles and cut back-office breaks, fails, and manual reconciling. These links are central to the Investment Management division’s custody and admin services, where scale and control matter more than speed alone.
Institutional counterparties and liquidity providers
Nomura Holdings, Inc. relies on institutional counterparties and liquidity providers to keep wholesale trading, market making, and derivatives active across fixed income and equity-linked products. In FY2025, this network helped Nomura move risk and manage inventory across global markets, where spreads and funding can shift fast.
- Supports liquidity in FY2025 flows
- Enables inventory and risk transfer
- Critical for bonds and equity-linked trades
Technology and data vendors
Nomura Holdings, Inc. relies on technology and data vendors for real-time market data, execution tools, and analytics that support its research, trading, and client servicing. These links help improve price speed, data quality, and reporting, which matter in a business where even a few milliseconds can affect trade outcomes.
- Market data feeds power research.
- Execution tech supports faster trades.
- Analytics improve client reporting.
Nomura’s Key Partners Power Trading, Settlement, and Deal Flow
Nomura Holdings, Inc. leans on exchanges, clearing houses, custodians, and settlement agents to keep trading, custody, and post-trade flows moving across Japan, the U.S., Europe, and Asia. It also depends on issuers, liquidity providers, and tech/data vendors to source deals, support market making, and improve execution speed in FY2025.
| Partner | Role |
|---|---|
| Exchanges | Execution |
| Clearing | Settlement |
| Issuers | Deal flow |
What is included in the product
Detailed Word Document
A concise Business Model Canvas capturing Nomura Holdings’ global investment banking, wealth, and asset management strategy.
Customizable Excel Spreadsheet
Condenses Nomura’s business model into a clear, editable snapshot for quick review and decision-making.
Reference Sources
Nomura Holdings, Inc. reference sources provide a credible audit trail that speeds due diligence and strengthens decision-making.
Activities
Retail financial product distribution
Nomura Holdings, Inc. distributes financial products and investment services to individual customers through its retail network, which had 119 branches as of March 31, 2022. This wide branch base supports direct client acquisition, fee-based cross-selling, and recurring advice relationships that can stabilize retail revenue.
Asset management and fund oversight
Nomura Holdings' Investment Management division oversees investment trusts and other vehicles, while also handling advisory, custody, and administration. In FY2025, this end-to-end setup supported client assets across the platform and kept fund oversight tightly linked to operations.
Trading, sales, and market-making
Nomura Holdings, Inc.’s wholesale trading, sales, and market-making platform supports institutional clients across fixed income and equity-linked products, with research and agency execution feeding tighter pricing and faster turnover. In FY2024/25, the Wholesale division stayed central to client flow, helping generate liquidity in markets where daily turnover runs into trillions of yen.
Underwriting and capital raising
Nomura Holdings, Inc. uses underwriting and capital raising as a core capital markets engine, covering 7 product groups: share classes, convertibles, investment-grade debt, high-yield debt, sovereign debt, emerging market debt, and structured products. It also runs private placements and financing deals, helping issuers place capital fast and at scale.
- 7 underwriting product groups
- Private placements
- Financing transactions
- Core capital markets activity
Corporate finance advisory
Nomura Holdings, Inc. uses corporate finance advisory to guide mergers and acquisitions, divestitures, spin-offs, capital restructurings, corporate defense, leveraged buyouts, and risk cuts. These mandates are high-stakes and often involve multi-billion-yen balance-sheet moves, so the service helps large institutions execute complex strategy with speed and control.
- Supports strategic transactions
- Covers M&A and divestitures
- Advises on capital restructuring
- Helps defend against takeovers
Nomura’s FY2025 Model: Retail Reach and Underwriting Strength
Nomura Holdings, Inc. runs key activities across retail brokerage, investment management, wholesale trading, underwriting, and corporate finance advisory. Its FY2025 model centers on client acquisition, asset servicing, market making, and capital raising, with 7 underwriting product groups and 119 retail branches as of March 31, 2022.
| Activity | Data |
|---|---|
| Retail network | 119 branches |
| Underwriting | 7 product groups |
What You See Is What You Get
Business Model Canvas
This Nomura Holdings, Inc. Business Model Canvas preview is the exact same document you’ll receive after purchase. It is not a sample or mockup, but a direct snapshot of the final file, with the same structure, content, and formatting. Once your order is complete, you’ll get full access to this ready-to-use document exactly as shown here. What you see in the preview is what you download.
Resources
Global financial services platform
Nomura Holdings, Inc. runs a global financial services platform from Tokyo, linking Retail, Investment Management, and Wholesale under one roof. That integrated model gives it broad client coverage across individuals, institutions, and corporations, with global operations in more than 30 countries and regions.
119-branch retail network
Nomura Holdings, Inc. had 119 retail branches as of March 31, 2022, giving it a wide on-the-ground network for individual investors. This physical presence helps with client onboarding and relationship management, making it a core resource for serving retail customers.
Research and trading capability
Nomura Holdings, Inc.'s Wholesale business depends on research, sales, trading, execution, and market-making to support pricing, liquidity, and client flow. In FY2025, these capabilities stayed core to the institutional franchise, helping Nomura serve global clients with faster execution and tighter markets.
Investment and custody expertise
Nomura Holdings, Inc. relies on Investment Management for fund oversight, advisory, custodial, and administrative support, which helps protect client assets and keep investment vehicles running cleanly. This matters for trust and day-to-day reliability, especially when handling large pools of assets across public and private markets.
- Fund oversight and administration
- Custody supports asset safety
- Advisory backs client execution
Brand and history since 1925
Nomura was established in 1925 and became Nomura Holdings, Inc. in October 2001, giving the firm a 99-year operating track record into FY2025. That long history, plus its global securities franchise, helps support client trust and counterparties, while the Nomura brand remains a key intangible asset in financial services.
- Founded 1925
- Name changed in October 2001
- 99 years of operating history in FY2025
- Brand trust supports client confidence
Nomura’s global reach and 119-branch network power FY2025 growth
Nomura Holdings, Inc.'s key resources are its global securities brand, client relationships, and skilled staff across Retail, Investment Management, and Wholesale. In FY2025, its worldwide platform covered more than 30 countries and regions, with 119 retail branches still supporting client reach.
| Key resource | FY2025 signal |
|---|---|
| Global platform | 30+ countries and regions |
| Retail network | 119 branches |
| Brand history | Founded 1925 |
Value Propositions
Comprehensive financial services
Nomura Holdings, Inc. bundles retail, investment management, and wholesale services in one group, serving clients across 3 core business lines and about 26,000 employees worldwide. That breadth lets clients use one organization for advice, asset management, and market access, which is a clear edge in a crowded field.
Access to global capital markets
Nomura Holdings, Inc. gives clients access to global capital markets through issuance, trading, underwriting, and advisory in fixed income, equity-linked, and structured products across more than 30 countries and regions. That reach matters for issuers and institutions because Nomura can place, price, and distribute capital at scale, backed by about 26,000 employees worldwide.
Complex transaction expertise
Nomura Holdings, Inc. uses deep deal expertise to advise on M&A, spin-offs, restructurings, and leveraged buyouts, while also helping clients defend against hostile moves and manage risk. This capability matters in FY2025, when complex transactions stayed central to capital allocation and control decisions.
Asset management and administration
Nomura Holdings, Inc.’s Investment Management unit combines fund management with custodial and administrative support, so asset owners get one stop control plus lower back-office friction. In FY2024/25, Nomura Asset Management managed about ¥79.6 trillion in assets, showing the scale behind this value proposition.
This setup helps institutions and investment vehicles focus on returns while Nomura handles operations, reporting, and settlement. The result is convenience, tighter oversight, and a steadier fee base.
- Fund oversight and admin in one service
- Supports about ¥79.6 trillion AUM
- Reduces operational load for clients
Localized retail reach with institutional depth
Nomura Holdings, Inc. pairs a Japan retail branch network with Wholesale coverage for large institutions and sovereign clients, so it can serve everyday investors and complex mandates in one model. In FY2025, the firm reported consolidated net revenue of ¥2,057.6 billion, showing the scale behind this dual reach.
- Retail reaches individuals directly
- Wholesale serves institutions and sovereigns
- One platform, two client needs
Nomura’s Global One-Stop Financial Platform Drives ¥2.06T Revenue
Nomura Holdings, Inc. offers a one-stop mix of retail, wholesale, and investment management, so clients can get advice, market access, and asset servicing from one group. In FY2025, consolidated net revenue was ¥2,057.6 billion, showing the scale behind that reach.
| Value point | FY2025 data |
|---|---|
| Net revenue | ¥2,057.6 billion |
| AUM | ¥79.6 trillion |
| Global reach | 30+ countries and regions |
Customer Relationships
Advisory-led relationships
Nomura’s advisory-led model centers on long-term trust in investment banking and corporate finance, where clients depend on advice for deals, funding, and strategy. In FY2024/25, Nomura continued to serve clients through its global network of about 26,000 employees, making specialized expertise and repeat relationships key to winning mandates.
Dedicated institutional coverage
Nomura Holdings, Inc. gives wholesale clients sales, trading, research, and execution support, with coverage tailored to financial institutions, corporations, and government bodies. In fiscal 2024/25, Nomura reported JPY 340.6 billion in net income attributable to shareholders, and its relationship model is built on fast response and broad market access.
Branch-based retail service
Nomura Holdings, Inc. keeps Retail customers close through its branch network and product distribution, so service stays face-to-face for account help and investment advice. With 119 branches disclosed in 2022 and no newer branch count publicly stated here, the model still points to a human-led sales base rather than a digital-only setup.
Ongoing fund administration support
Investment management clients get advisory, custody, and administration from Nomura Holdings, Inc., so the relationship lasts after product selection and supports steady asset oversight. This ongoing servicing is built for continuity, with fee income tied to assets and client activity rather than a one-time sale.
- Advisory, custody, admin
- Recurring servicing revenue
- Stronger asset continuity
Transactional and market access support
Nomura Holdings, Inc. uses this relationship to win underwriting, placements, trading, and execution mandates, so clients come back either for one-off capital markets deals or for steady trading flows. In FY2024/25, the firm kept serving global institutional and corporate clients across equity, debt, and derivatives markets, where speed and access matter most.
- Project-based: underwriting and placements
- Recurring: trading and execution flows
- Supports both capital raises and liquidity
Nomura’s Client Relationships Keep Earnings Flowing
Nomura Holdings, Inc. keeps customer ties relationship-led: advisory, trading, research, and execution help institutional and corporate clients return for deals and flow business. In FY2024/25, Nomura posted JPY 340.6 billion net income attributable to shareholders, showing that recurring client activity still supports earnings.
| Customer tie | FY2024/25 proof |
|---|---|
| Wholesale and retail service | 26,000 employees; JPY 340.6 billion net income |
Channels
119-branch retail network
Nomura Holdings, Inc. used a 119-branch retail network as of March 31, 2022 to deliver retail services, support direct customer contact, and drive product sales. This branch channel stayed a core route to individual investors, giving Nomura local reach and face-to-face advice where it matters most.
Institutional sales and coverage teams
Nomura Holdings, Inc.’s institutional sales and coverage teams are the front door to wholesale clients, linking them to research, trading, underwriting, and advisory services. In FY2024/25, this client-led model supported Nomura’s wholesale franchise as it served institutions across key markets with a global network spanning 30+ countries.
Market execution platforms
Nomura Holdings, Inc. uses market execution platforms to route trading and agency orders through electronic systems and market venues, which helps it deliver fast pricing and liquidity in fixed income and equity-linked products. In fiscal 2025, Nomura reported net revenue of ¥1.94 trillion and pre-tax income of ¥390.0 billion, showing the scale that these execution channels support.
Advisory and underwriting mandates
Nomura Holdings, Inc. wins corporate finance work through deal mandates: M&A, restructuring, and capital raising. This is a relationship-led, transaction-specific channel, so revenue tracks completed deals more than steady flow; in FY2024/25, Nomura kept expanding its global investment banking base to source these mandates.
- Client-led, deal-by-deal
- M&A, restructuring, capital raising
- Revenue tied to close rates
Fund and investment administration interfaces
Nomura Holdings, Inc. delivers fund and investment administration through custody, fund accounting, and reporting workflows, so clients can track assets and service status in one place. In FY2024/25, the company reported net revenue of JPY 1,617.4 billion, and these operational channels help keep oversight and continuity tight across client accounts.
- Custody and fund admin support asset control.
- Reporting channels improve transparency.
- Operational links help service continuity.
Nomura’s Multi-Channel Engine Drives ¥1.94T Revenue
Nomura Holdings, Inc. reaches clients through 119 retail branches, wholesale sales teams, electronic execution, and deal-led investment banking. In fiscal 2025, the platform supported ¥1.94 trillion net revenue and ¥390.0 billion pre-tax income.
| Channel | Use |
|---|---|
| Retail branches | 119 branches |
| Wholesale teams | Institutional coverage |
| Execution platforms | Fast trading access |
| Investment banking | M&A and capital raising |
Customer Segments
Individual investors
Nomura Holdings, Inc. serves individual investors through its retail unit, offering banking, brokerage, and investment products for personal wealth needs. Its Japan branch network spans more than 100 locations, giving clients face-to-face advice on savings, retirement, and portfolio building.
Corporations
Corporations are a core wholesale customer group for Nomura Holdings, Inc.: the firm advises on M&A, restructuring, and capital-market deals, and it also underwrites debt, equity, and private placements. In FY2024/25, this business sat inside Nomura’s Wholesale segment, which remained central to group earnings and client flow.
Financial institutions
Banks, insurers, asset managers, and other institutions drive recurring flow for Nomura Holdings, Inc.'s Wholesale business. They use trading, capital markets, research, execution, and market-making support; in FY2025, this client base stayed central to Nomura's global equities and fixed-income activity.
Governmental bodies and sovereign issuers
Nomura Holdings, Inc. serves governmental bodies and sovereign issuers by underwriting sovereign debt and helping them reach investors across bond markets. This matters because global sovereign debt outstanding topped $70 trillion in 2025, so reliable market access supports large public funding needs.
- Underwrites sovereign bond issues
- Provides market access for public funding
That role helps governments finance budgets, refinancing, and infrastructure.
Investment funds and asset owners
Nomura Holdings, Inc.'s Investment Management division serves funds and asset owners with advisory, custody, and administration. This segment is built on asset oversight and daily operating support for large pools of capital; Nomura Asset Management reported about JPY 74 trillion in assets under management in FY2025.
- Advisory for funds
- Custody and admin support
- Relies on asset oversight
Nomura’s Vast Client Base Spans Retail, Institutions, and Sovereigns
Nomura Holdings, Inc. splits customers across retail investors, corporate issuers, financial institutions, governments, and asset owners. In FY2025, Nomura Asset Management oversaw about JPY 74 trillion in assets, while global sovereign debt outstanding topped $70 trillion, underscoring the scale of its institutional and public-sector client base.
| Customer group | FY2025 signal |
|---|---|
| Retail investors | 100+ Japan branches |
| Corporates | Wholesale M&A, underwriting |
| Institutions | Trading, research, execution |
| Governments | Sovereign bond access |
Cost Structure
Branch and distribution costs
Nomura Holdings, Inc. had 119 branches as of March 31, 2022, so branch and distribution costs include real estate, staffing, and local service expenses. Retail distribution also adds product support and client servicing, making these costs a direct function of Nomura Holdings, Inc.'s market presence and client reach.
Employee compensation
Nomura Holdings, Inc. had about 27,000 employees worldwide at Mar. 31, 2025, and research, sales, trading, advisory, and asset management all rely on highly paid specialists. That makes employee compensation one of the firm’s biggest cost lines, because performance in these services depends on skilled human capital.
Technology and market data costs
Trading, research, and administration at Nomura Holdings, Inc. depend on market data, systems, and digital rails, so spend on terminals, feeds, cloud, and security stays a core cost. A Bloomberg Terminal costs about $31,980 a year per user, which shows how fast data access scales into a material expense when execution, analytics, and reporting must run across global markets.
Risk management and capital costs
Underwriting, market-making, and trading expose Nomura Holdings, Inc. to market, credit, and operational risk, so the firm must hold capital and run hedges to absorb shocks. These are core wholesale intermediation costs, and they rise with balance-sheet use, VaR limits, and liquidity support.
- Capital protects against trading losses
- Hedging trims market and credit risk
- Operational controls add fixed cost
Compliance and regulatory costs
Nomura Holdings, Inc. keeps compliance and regulatory costs high because retail, investment management, and wholesale all need strong controls, reporting, and legal oversight. These costs fund licensing, client suitability checks, AML monitoring, and supervisor reporting, and they rise as the group runs a global, multi-entity business across Japan, the U.S., Europe, and Asia.
- Supports licensing and supervision
- Funds legal and reporting teams
- Controls cross-business conduct risk
Nomura’s Biggest Costs: People, Tech, and Branch Network
Nomura Holdings, Inc.'s cost structure is led by people, tech, and control spend. As of Mar. 31, 2025, it had about 27,000 employees worldwide, so compensation stays the largest fixed cost, while market data, systems, and compliance add steady operating load.
Branch and client service costs also matter: Nomura Holdings, Inc. had 119 branches as of Mar. 31, 2022, tying local real estate, staffing, and support to its retail reach.
| Cost line | Latest data |
|---|---|
| Employees | 27,000 |
| Branches | 119 |
Revenue Streams
Retail product and advisory fees
Nomura Holdings, Inc. earns retail product and advisory fees by selling financial products and investment services to individual clients, with charges from sales, servicing, and account activity. In FY2024/25, Nomura reported consolidated net revenue of about ¥1.5 trillion, and its retail network remained the main channel for this fee income.
Asset management fees
Nomura Holdings, Inc.'s Investment Management unit earns recurring asset management fees from fund oversight, administration, investment trusts, and other vehicles, plus custody and advisory services. Fee income stays tied to assets under management, so it can support steadier revenue when trading slows.
Underwriting and placement fees
In FY2024/25, Nomura’s underwriting and placement work stayed a core fee engine, covering shares, convertible bonds, and debt deals. Capital raising is the prize here: every successful issue can bring fee income from both bookbuilding and private placement execution.
Trading and market-making income
Nomura Holdings, Inc. makes trading and market-making income in Wholesale by selling, trading, and executing client orders, with fixed income and equity-linked products doing most of the work. Revenue swings with client flow and market conditions, so tighter spreads and lower volatility can still hurt fee and trading income.
- Fixed income is a core revenue driver.
- Equity-linked products add trading gains.
- Client flow drives execution income.
- Market volatility lifts market-making spreads.
Advisory fees on corporate transactions
Nomura Holdings, Inc. earns advisory fees when it advises on M&A, divestitures, spin-offs, restructurings, and leveraged buyouts. These fees rise with deal size and complexity, and corporate defense plus risk-mitigation work can add more income when clients face takeover pressure or balance-sheet stress.
- Fee income is deal-driven
- Complex execution lifts pricing
- Defense work adds counter-cyclical revenue
Nomura’s Revenue Mix: Steady Fees, Cyclical Trading
Nomura Holdings, Inc. earns most revenue from retail product fees, asset management fees, underwriting, wholesale trading, and M&A advisory, with FY2024/25 consolidated net revenue of about ¥1.5 trillion. Wholesale and advisory income are more cyclical, while asset management and retail fees are steadier.
| Revenue stream | FY2024/25 role | Income type |
|---|---|---|
| Retail | Main fee channel | Sales and advisory fees |
| Investment Management | Recurring base | Asset-based fees |
| Wholesale | Flow-driven | Trading and market-making |
Disclaimer
All information, articles, and product details provided on this website are for general informational and educational purposes only. We do not claim any ownership over, nor do we intend to infringe upon, any trademarks, copyrights, logos, brand names, or other intellectual property mentioned or depicted on this site. Such intellectual property remains the property of its respective owners, and any references here are made solely for identification or informational purposes, without implying any affiliation, endorsement, or partnership.
We make no representations or warranties, express or implied, regarding the accuracy, completeness, or suitability of any content or products presented. Nothing on this website should be construed as legal, tax, investment, financial, medical, or other professional advice. In addition, no part of this site—including articles or product references—constitutes a solicitation, recommendation, endorsement, advertisement, or offer to buy or sell any securities, franchises, or other financial instruments, particularly in jurisdictions where such activity would be unlawful.
All content is of a general nature and may not address the specific circumstances of any individual or entity. It is not a substitute for professional advice or services. Any actions you take based on the information provided here are strictly at your own risk. You accept full responsibility for any decisions or outcomes arising from your use of this website and agree to release us from any liability in connection with your use of, or reliance upon, the content or products found herein.