Asset Management Division

Asset Management Division

May 10, 2010

Atsushi Yoshikawa Nomura Asset Management CEO

FY 2009 in Review

Division’s AUM and Income Public Investment Trust Net Asset Inflow (ex. ETF)

Gradual Recovery from the Financial Crisis

30.0

(¥ Tri.)

120

PretaxIncome(¥100mil.)

200

400(¥ bil.)

2

10.0

15.0

20.0

25.0

3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q

FY2007 FY2008 FY2009

-40

0

40

80

(600)

(400)

(200)

0

200

3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4QFY2007 FY2008 FY2009

Go Back to Basics

Generate “α” in our actively managed products

Anticipate and respond to the needs of our clients

3

Anticipate and respond to the needs of our clients

Operate with a global perspective

New StructureBusiness Units Operated according to Client Segments

Provide services with strong expertise in key areas of business responsibility Maximize investment performance potential; Appoint CIO and Asset Class CIOs Enhanced cooperation between Investment and Research Division and both Client Divisions to

promote further business development

<Previous Structure> <New Structure>

Global Institutional Clients Div.

Retail Clients Div.

Investment and Research Div.Investment

and Research

Div.

Client Services

Div.

Asset ClassCIO

(EQ, FI)

CIO

4

What We Envision

”World-Class”

Asset Management FirmEstablish a Strong Competitive Edge in Japan and Asia

Deliver Wide Range of Products to Asian/Japanese Investors

Deliver Competitive Asia/Japan Investment Products Globally

5

Public Investment Trust Mkt. (Mar 2010)1,2 Household Financial Assets (Dec 2009)

Investment Management in Japan

Cash/Deposit55 2%E i

InvestmentTrusts3.6%

Fixed Income2.6% Other

4.4%Company B9 7%Company C

Other 26.4%

Company D

Nomura 20.3%

Company F3.1%

Company G2.8%

Company H2.7%

Company I 2.4 %

Company E

Company A14.4%

6

NAM’s Share in Bank Sales 1,2

Source: Bank of Japan

55.2%

Insurance/Trust15.1%

Pension Fund12.5%

Equity6.6%

9.7%p y8.6%Company D

6.6%3.1% Company E

3.2%

1,456 Tri.Yen

1. Nomura, based on data from The Investment Trust Association, Japan2. AUM for Nomura shown as NAM only

0

10

20

30

40

1Q 2Q 3Q 4QFY2006 FY2007 FY2008 FY2009

(Yen Tr.)

0.0%1.0%2.0%3.0%4.0%5.0%6.0%7.0%

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q1Q 2Q 3Q 4Q

Delivering the World‘s Best Products to Japan

Retail Clients

Nomura Asset Management

Best Products

NFR&T

7

1990 2000 2009

EMEA : 27.2% 33.4% 30.0%

Americas : 37.1% 51.4% 49.2%

A Strong Competitive Edge in Japan and Asia

Change in NAV Ratio by Region

80%

100%

Europe/Middle East/Africa

Americas : 37.1% 51.4% 49.2%

Asia ex. Japan : 5.7% 5.0% 12.3%

Japan : 30.1% 10.1% 8.4%

Asia incl. Japan : 35.8% 15.1% 20.7%

8Source: NRI

0%

20%

40%

60%

1990 1995 2000 2005 2006 2007 2008 2009

Japan

Americas

Asia ex. Japan

Recent Awards Received

Asian InvestorsInvestment Performance Awards 2009

•Japan ETF•Japan Onshore Fund House•Hong Kong Equity

Global Pensions Award 2009•Specialist Equities Manager of the Year

Morningstar Award “Fund of the Year 2009”Balanced Funds •Nomura Global Six Assets Diversified Fund(Profit Distribution Type)•Global Three Assets Balance Fund (Monthly Profit Distribution Type)

Lipper Fund Awards Japan 2010

Best Fund (3 Years)

Japan Outside Japan

9

European Pensions Awards 2009•Emerging Markets Manager of the Year

Mercer MPA (Japan) Award 2009•Foreign Bond Active – 6 Consecutive Years

Pension & Investment Provider Awards 2010•Active Asia-Pacific equity

Best Fund (3 Years)•US NASDAQ Open Course A•Nomura Pictet Premium Brand Fund Course A•World Water Fund Course A

Best Fund (5 Years)•Sector Index Select Funds Course G (Steel, Shipbuilding & Metals)•Sector Index Select Funds Course K (Wholesale Trade)

Best Fund (10 Years)•Sector Index Select Funds Course G (Steel, Shipbuilding & Metals)

NIKKEI NET・QUICK Fund Rankings 2009•#1 Balanced Fund

My Story Profit Distribution Type (6 times Per Year)

NomuraPartners

UCITS

Institutional Investors

North AmericaInstitutional Investors Europe

Delivering In-house Products Worldwide

Japanese Equity ActiveAsian Equity Active

Portable αRAFI

(Japanese Equity, Global Equity)

Funds

AustraliaSuper-

annuation

India

LIC NOMURAMutual Fund

Institutional Investors

Asia

Islamic Products

Global Equity)Global Bond

High Yield Products(NCRAM)

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