Nomura to book extraordinary gain of JPY151 billion in FY2019/20 thanks to NRI share buyback

Maria Nikolova

As a result of the sale of a portion of the NRI shares it owns, Nomura expects to book an extraordinary gain of approximately 151 billion yen in its FY2019/20 non-consolidated financial results.

Nomura Holdings Inc (TYO:8604), or NHI, has earlier today announced the results of its participation in Nomura Research Institute share buyback.

In June this year, Nomura Holdings, Inc. said that it would participate in a self-tender offer by Nomura Research Institute, Ltd. (NRI). The Tender Offer period ended on July 29, 2019.

Nomura Holdings sold 101,889,300 shares at a sale price per share of 1,570 yen. This gives an aggregate amount of 159,966,201,000 yen.

In conjunction with the sale of a portion of the NRI shares it owns, Nomura expects to book an extraordinary gain of approximately 151 billion yen in its FY2019/20 non-consolidated financial results. In addition, Nomura expects to book an estimated pretax income of 73 billion yen in its second quarter consolidated financial results.

NRI will remain an equity method affiliate of Nomura. After the completion of the Tender Offer, Nomura Holdings owns 23.08% in NRI.

NHI had been considering the optimal capital relationship with NRI, and discussed the possibility of NHI selling a portion of the shares it owns in NRI. NRI proposed the Tender Offer to NHI and after considering NRI’s proposal NHI decided to tender its shares under the Tender Offer.

NHI plans to use the funds raised from the sale of NRI’s ordinary shares under the Tender Offer to enhance its corporate value through shareholder returns and investments to further grow its business.

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