Strengths

• Largest client base across Japan's securities sector
• Sophisticated consulting capabilities and supporting platforms
• Ability to offer products and services by leveraging Nomura's comprehensive strengths

Challenges

• Diversification of challenges and concerns related to clients' total balance sheet
• Uncertain market environment
• Changes in social structure due to the declining birthrate and aging population, growing
  requirements towards asset or business succession
• Transformation of the economy, society, and daily life brought about by digitalization
• Changes in behaviors and services in response to COVID-19

Actions

• Training Sales Partners^* whom clients completely trust
• Deployment of Sales Partner^* who possess knowledge and expertise tailored to client
  requirements
• Approach to client's total balance sheet
• Expanding contact points with clients and improving level of satisfaction
• Building stable earnings structure by increasing recurring revenues and further expanding
  products and services
• Deployment of Sales Partners^* (Heartful Partners) for elderly clients
• Enhancing content targeted at younger generations (websites, seminars, apps, etc.)
• Deepening the use of digital tools and data

We call our sales representatives "Partners" because we want to be the most trusted financial service group for clients

Create a high value-added advisory model

We will leverage the expertise of the CIO Group^* to provide new asset management services. In addition, by utilizing Nomura Navigation, partners will be able to provide highly specialized information suitable for client.

Enhance productivity of existing businesses

We will deepen the use of digital tools and data while further expanding our products and services offering. By combining the best of face-to-face and non-face-to-face channels, we will provide timely advice and consulting that clients require, ensuring a comfortable client experience.

Expand business through collaboration with regional financial institutions

In addition to our ongoing strategy to strengthen alliances with regional banks, by collaborating with a variety of business partners, we will also take on the challenge of expanding new businesses. For example, we plan to create an independent operating business that does not mediate financial products, to offer consultations, and we also plan to build a financial product intermediation platform.