Core Insights - Nanalysis Scientific Corp. has launched its new 60 MHz Benchtop NMR spectrometer at the Pittcon Conference and Expo, showcasing advancements in portable NMR technology [1][2] - The new Nanalysis-60 instrument represents a significant improvement over the previous generation, targeting various industries including pharma, food, and mining [2][3] - The company continues to innovate within its magnetic resonance technology platform, with plans for future spectrometer products at different price points [3] Company Overview - Nanalysis operates two primary business segments: Scientific Equipment and Security Services, focusing on portable Nuclear Magnetic Resonance (NMR) spectrometers for industrial and laboratory markets [4][5] - The company has a strong innovation pipeline, having previously launched the NMReady-60™ and a 100 MHz device, which is the most advanced compact NMR device available [4] Market Applications - Nanalysis devices are utilized across various industries such as oil and gas, chemical, mining, pharma, and law enforcement, with a focus on expanding into new global markets [5] - The company has secured a five-year, $160 million contract for maintenance services of passenger screening equipment in Canadian airports, enhancing its security services segment [6][7] Product Features - The new Nanalysis-60 offers improved power, sensitivity, and automation features, including an autosampler and advanced software capabilities for enhanced NMR analysis [6]

Core Viewpoint - Nomura Holdings (NMR) is currently viewed as a better value opportunity compared to Bank of America (BAC) based on various valuation metrics and earnings outlook [1][7]. Valuation Metrics - NMR has a forward P/E ratio of 8.67, significantly lower than BAC's forward P/E of 11.93 [5]. - The PEG ratio for NMR is 0.30, indicating a more favorable valuation relative to its expected EPS growth compared to BAC's PEG ratio of 1.19 [5]. - NMR's P/B ratio stands at 0.81, while BAC's P/B ratio is higher at 1.24, suggesting that NMR is undervalued in terms of market value versus book value [6]. Earnings Outlook - NMR is experiencing an improving earnings outlook, which enhances its attractiveness in the Zacks Rank model, indicating a positive trend in earnings estimates [3][7]. - The Zacks Rank for NMR is 2 (Buy), while BAC holds a Zacks Rank of 3 (Hold), reflecting a stronger earnings estimate revision for NMR [3].

Market Overview - The three major U.S. indexes, Nasdaq Composite, Dow Jones Industrial Average, and S&P 500, experienced declines of 2.6%, 2.5%, and 1.9% respectively during a holiday-shortened trading week [1] - Concerns over persistent inflation, disappointing economic reports, and new tariff threats from President Trump contributed to investor anxiety [1] Federal Reserve and Economic Indicators - The Federal Reserve maintained key interest rates but expressed worries about rising inflation and the potential effects of Trump's fiscal, trade, and immigration policies [2] - The U.S. Consumer Sentiment Index dropped to a 15-month low of 64.7 in February, down from 71.7 in January [2] - The S&P Global's flash U.S. Composite PMI Output Index fell to a 17-month low of 50.4, down from 52.7 in January [2] Stock Performance and Recommendations - Nomura Holdings, Inc. (NMR) saw a share price increase of 12.3% since being upgraded to Zacks Rank 2 (Buy) on December 24 [3] - Corning Incorporated (GLW) returned 8.8% since its upgrade to Zacks Rank 2 on December 31 [4] - A hypothetical portfolio of Zacks Rank 1 (Strong Buy) stocks returned -3.48% in January 2025, compared to -0.60% for the S&P 500 index [4] Zacks Model Portfolio Performance - The Zacks Model Portfolio, consisting of Zacks Rank 1 stocks, has outperformed the S&P 500 index by nearly 13 percentage points since 1988, with an annualized average return of +23.9% [6] - The Zacks Focus List portfolio returned +3.13% in January 2025, outperforming the S&P 500 index's +2.79% [11] - The Focus List portfolio has produced an annualized return of +11.81% since 2004, compared to +10.48% for the S&P 500 index [12] Sector-Specific Stock Performance - AutoZone, Inc. (AZO) increased by 8.7% over the past 12 weeks, while Costco Wholesale Corporation (COST) rose by 7.4% [13] - The Coca-Cola Company (KO) returned 11.6% over the past 12 weeks, and Quest Diagnostics Incorporated (DGX) increased by 5.3% [16] - Primo Brands Corporation (PRMB) jumped 10.7% year-to-date, outperforming the S&P 500 index's 2.4% increase [19]

Core Viewpoint - Nomura Holdings (NMR) is currently viewed as a superior value opportunity compared to Bank of America (BAC) based on various valuation metrics [1][7]. Valuation Metrics - NMR has a forward P/E ratio of 9.03, while BAC has a forward P/E of 12.66 [5]. - NMR's PEG ratio is 0.31, indicating a more favorable valuation relative to its expected EPS growth rate compared to BAC's PEG ratio of 1.26 [5]. - NMR's P/B ratio stands at 0.84, contrasting with BAC's P/B of 1.32, suggesting that NMR is undervalued relative to its book value [6]. Earnings Outlook - Both NMR and BAC have a Zacks Rank of 2 (Buy), indicating positive earnings estimate revisions and an improving earnings outlook for both companies [3].

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Financial Data and Key Metrics Changes - Group-wide net revenue increased by 4% quarter-on-quarter to JPY 502 billion [4] - Income before income taxes grew by 4% to JPY 138.3 billion, while net income rose to JPY 101.4 billion, representing a 3% increase over the last quarter [4] - EPS reached JPY 33.08, and annualized return on equity was 11.8%, marking the seventh consecutive quarter of profit growth [5][6] Business Line Data and Key Metrics Changes - Wealth management net revenue was flat quarter-on-quarter at JPY 116.3 billion, with income before income taxes growing by 2% to JPY 46.2 billion [14] - Investment management net revenue decreased by 18% to JPY 45.7 billion, while income before income taxes fell by 41% to JPY 18.9 billion [24] - Wholesale net revenue increased by 10% to JPY 290.5 billion, with income before income taxes reaching JPY 62.4 billion, the highest level in four years [28][29] Market Data and Key Metrics Changes - International business accounted for nearly 40% of group-wide income before income taxes, with income before income taxes in international regions increasing by 30% over the last quarter [6] - Net inflows of recurring revenue assets exceeded JPY 1.1 trillion in the first three quarters, surpassing the full-year target of JPY 800 billion [22] - Sales of investment trusts increased by 9%, driven by demand for US growth stock investment trusts [19] Company Strategy and Development Direction - The company aims to achieve a consistent ROE of 8% to 10% or more by 2030, focusing on stable recurring profits to enhance earnings stability [39] - Strategic initiatives have led to improved profitability in international operations, with a focus on diversifying revenue sources across all divisions [5][36] - The company plans to maintain cost controls while pursuing bottom-line growth, despite inflationary pressures [81][82] Management's Comments on Operating Environment and Future Outlook - Management noted that while January started slowly compared to Q3, revenue levels remain acceptable, and they continue to aim for bottom-line growth [40] - The company expressed confidence in achieving record high net profits, emphasizing the importance of stabilizing top-line growth and diversifying revenue streams [132][133] - Management acknowledged the challenges posed by external inflationary pressures but remains committed to cost control [83] Other Important Information - The company plans to celebrate its 100th anniversary on December 25, 2025, and will pay a commemorative dividend of JPY 10 per share to shareholders of record as of March 31, 2025 [41] - The sale of the Takanawa property is expected to generate a pre-tax income of approximately JPY 56 billion [40] Q&A Session Summary Question: About wholesale fixed income business and sustainability of revenue environment - Management indicated that the securitization business was strong, with efforts to improve fund turnover and diversify the portfolio [49][50] Question: Regarding asset efficiency and future sales of assets - Management confirmed that they are proactively selling policy holdings and do not expect to change the ratio of holdings significantly [52][121] Question: Shareholder return and dividend policy - Management clarified that the commemorative dividend is separate from regular dividends, and they will monitor proceeds from asset sales for potential shareholder returns [65][66] Question: Impact of client visit rules on sales - Management noted minimal impact on existing client relationships but acknowledged a slight slowdown in new customer acquisition [78] Question: Investment management pipeline and revenue forecast - Management expressed confidence in a strong M&A and ECM pipeline, with expectations for continued high performance in investment banking [95]

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1][2]. Company Overview: Nomura Holdings (NMR) - Nomura Holdings currently holds a Momentum Style Score of A, indicating strong potential for momentum investing [3]. - The company has a Zacks Rank of 2 (Buy), suggesting it is positioned for outperformance in the market [4]. Price Performance - NMR shares have increased by 3.51% over the past week, outperforming the Zacks Financial - Investment Bank industry, which rose by 0.24% [6]. - Over the last month, NMR's price change is 21.18%, significantly higher than the industry's 6.84% [6]. - In the past quarter, NMR shares rose by 21.39%, and over the last year, they increased by 27.37%, while the S&P 500 only moved 5.14% and 24.19%, respectively [7]. Trading Volume - NMR's average 20-day trading volume is 604,871 shares, which serves as a bullish indicator when combined with rising stock prices [8]. Earnings Outlook - In the last two months, one earnings estimate for NMR has increased, while none have decreased, raising the consensus estimate from $0.61 to $0.76 [10]. - For the next fiscal year, one estimate has also moved upwards with no downward revisions [10]. Conclusion - Given the strong momentum indicators and positive earnings outlook, NMR is recommended as a solid pick for investors seeking short-term gains [12].

Table of Contents FORM 6-K U.S. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Report of Foreign Private Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 Commission File Number: 1-15270 For the month of February 2025 NOMURA HOLDINGS, INC. (Translation of registrant's name into English) 13-1, Nihonbashi 1-chome Chuo-ku, Tokyo 103-8645 Japan (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under c ...

Core Viewpoint - Nomura Holdings (NMR) is currently considered a more attractive value investment compared to Bank of America (BAC) based on various valuation metrics [3][7]. Valuation Metrics - NMR has a forward P/E ratio of 9.34, while BAC has a forward P/E of 12.66, indicating that NMR is undervalued relative to BAC [5]. - The PEG ratio for NMR is 0.41, suggesting strong expected EPS growth relative to its price, whereas BAC has a PEG ratio of 1.26, indicating a less favorable growth outlook [5]. - NMR's P/B ratio stands at 0.82, compared to BAC's P/B of 1.31, further supporting the notion that NMR is undervalued [6]. Earnings Outlook - Both NMR and BAC have a Zacks Rank of 2 (Buy), indicating positive earnings estimate revisions and improving earnings outlooks [3][7]. - Despite both companies having solid earnings prospects, NMR's superior valuation metrics position it as the better value option [7].

Core Viewpoint - Nomura Holdings (NMR) has shown a downtrend recently, losing 5.9% over the past four weeks, but a hammer chart pattern suggests a potential trend reversal as buying interest may be emerging [1][2]. Technical Analysis - The hammer chart pattern indicates a possible bottoming out, suggesting that selling pressure may be subsiding [2][4]. - A hammer pattern forms when there is a small candle body with a long lower wick, indicating that the stock opened lower, made a new low, but closed near or above the opening price, reflecting some buying interest [3][4]. - This pattern is significant when it occurs at the bottom of a downtrend, signaling that bears may be losing control [4]. Fundamental Analysis - There is a strong consensus among Wall Street analysts to raise earnings estimates for NMR, which supports the bullish case for the stock [2][6]. - Over the last 30 days, the consensus EPS estimate for the current year has increased by 6.4%, indicating that analysts expect better earnings than previously predicted [7]. - NMR holds a Zacks Rank of 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks, which typically outperform the market [8]. Conclusion - The combination of the hammer chart pattern and positive earnings estimate revisions enhances the likelihood of a trend reversal for Nomura Holdings [1][6][8].