Governance | Measures for Reinforcing Governance

Since 2001, when we adopted a holding company structure and listed on the New York Stock Exchange (NYSE), we have taken steps to ensure the transparency of management, including installing Outside Directors and establishing an Internal Controls Committee, a Compensation Committee (the majority of the members are Outside Directors), and an Advisory Board of distinguished persons from outside the Company, and further improved our information disclosure system.

Moreover, in 2003, we further strengthened and increased the transparency of our oversight functions and expedited Nomura Group's decision-making process by adopting the "Company with Committees, etc." structure (now the "Company with Three Board Committees" structure), a governance structure under which management oversight and business execution functions are clearly separated.

In addition, in 2004, we established the "Code of Ethics of Nomura Group," which specifies matters to be observed by each Director, officer, and employee of Nomura Group with respect to corporate governance and corporate social responsibility, and are making a thoroughgoing effort in this regard. Moreover, our Code of Ethics is in line with the Universal Declaration of Human Rights and the OECD Guidelines for Multinational Enterprises.

Code of Ethics of Nomura Group

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