Employee benefit plans (Tables)
|
12 Months Ended |
Mar. 31, 2026 |
| Employee Benefit Plans [Abstract] |
|
| Net periodic benefit cost for defined benefit plans |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
¥ |
6,028 |
|
|
¥ |
5,748 |
|
|
¥ |
5,404 |
|
|
|
|
3,484 |
|
|
|
4,039 |
|
|
|
5,056 |
|
Expected return on plan assets |
|
|
(5,658 |
) |
|
|
(5,664 |
) |
|
|
(5,369 |
) |
Amortization of net actuarial losses |
|
|
3,021 |
|
|
|
1,844 |
|
|
|
798 |
|
Amortization of prior service cost |
|
|
(1,603 |
) |
|
|
(441 |
) |
|
|
(541 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net periodic benefit cost |
|
¥ |
5,272 |
|
|
¥ |
5,526 |
|
|
¥ |
5,348 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Reconciliation of changes in projected benefit obligation and fair value of plan assets |
|
|
|
|
|
|
|
|
|
| |
|
|
|
| |
|
As of or for the year ended March 31 |
|
| |
|
|
|
|
|
|
Change in projected benefit obligation: |
|
|
|
|
|
|
|
|
Projected benefit obligation at beginning of year |
|
¥ |
245,439 |
|
|
¥ |
218,187 |
|
|
|
|
5,748 |
|
|
|
5,404 |
|
|
|
|
4,039 |
|
|
|
5,056 |
|
|
|
|
(19,012 |
) |
|
|
(13,512 |
) |
|
|
|
(17,137 |
) |
|
|
(16,842 |
) |
Amendments of pension benefit plans |
|
|
(883 |
) |
|
|
— |
|
Acquisition, divestitures and other |
|
|
(7 |
) |
|
|
1 |
|
|
|
|
|
|
|
|
|
|
Projected benefit obligation at end of year |
|
¥ |
218,187 |
|
|
¥ |
198,294 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair value of plan assets at beginning of year |
|
¥ |
219,869 |
|
|
¥ |
208,523 |
|
Actual return on plan assets |
|
|
(364 |
) |
|
|
6,023 |
|
|
|
|
748 |
|
|
|
— |
|
|
|
|
(11,730 |
) |
|
|
(12,178 |
) |
|
|
|
|
|
|
|
|
|
Fair value of plan assets at end of year |
|
¥ |
208,523 |
|
|
¥ |
202,368 |
|
|
|
|
|
|
|
|
|
|
Funded status at end of year |
|
|
(9,664 |
) |
|
|
4,074 |
|
|
|
|
|
|
|
|
|
|
Amounts recognized in the consolidated balance sheets |
|
¥ |
(9,664 |
) |
|
¥ |
4,074 |
|
|
|
|
|
|
|
|
|
|
|
| Projected benefit obligation, accumulated benefit obligation and fair value of plan assets for pension plans with ABO and PBO in excess of plan assets |
The following table presents the PBO, ABO and fair value of plan assets for Japanese entities’ plans with ABO and PBO in excess of plan assets as of March 31, 2025 and 2026.
|
|
|
|
|
|
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
|
|
|
Plans with ABO in excess of plan assets: |
|
|
|
|
|
|
|
|
|
|
¥ |
45,064 |
|
|
¥ |
45,356 |
|
|
|
|
45,064 |
|
|
|
45,356 |
|
Fair value of plan assets |
|
|
|
|
|
|
|
|
Plans with PBO in excess of plan assets: |
|
|
|
|
|
|
|
|
|
|
¥ |
45,064 |
|
|
¥ |
45,356 |
|
|
|
|
45,064 |
|
|
|
45,356 |
|
Fair value of plan assets |
|
|
|
|
|
|
|
|
|
| Amounts in accumulated other comprehensive income, pre-tax, that have not yet been recognized as components of net periodic benefit cost |
The following table presents pre-tax amounts of Japanese entities’ plans deferred in Accumulated other comprehensive income (loss) that have not yet been recognized as components of net periodic benefit cost during the year ended March 31, 2026.
|
|
|
|
|
| |
|
|
|
| |
|
|
|
|
|
¥ |
13,560 |
|
|
|
|
(4,693 |
) |
|
|
|
|
|
|
|
¥ |
8,867 |
|
|
|
|
|
|
|
| Amounts in accumulated other comprehensive income, pre-tax, expected to be recognized as components of net periodic benefit cost over next fiscal year |
Pre-tax amounts of Japanese entities’ plans in Accumulated other comprehensive income which are expected to be recognized as components of net periodic benefit cost over the next fiscal year are as follows.
|
| Schedule of weighted-average assumptions used to determine PBO |
The following table presents the weighted-average assumptions used to determine projected benefit obligations of Japanese entities’ plans as of March 31, 2025 and 2026.
|
|
|
|
|
|
|
|
|
| |
|
|
|
| |
|
|
|
|
|
|
|
|
|
2.3 |
% |
|
|
3.2 |
% |
Rate of increase in compensation levels |
|
|
0.5 |
% |
|
|
0.4 |
% |
|
|
|
2.9 |
% |
|
|
2.9 |
% |
|
| Weighted-average assumptions used to determine net periodic benefit costs |
The following table presents the weighted-average assumptions used to determine the net periodic benefit cost of Japanese entities’ plans for the year ended March 31, 2024, 2025 and 2026.
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
1.3 |
% |
|
|
1.6 |
% |
|
|
2.3 |
% |
Rate of increase in compensation levels |
|
|
0.4 |
% |
|
|
0.5 |
% |
|
|
0.5 |
% |
Expected long-term rate of return on plan assets |
|
|
2.6 |
% |
|
|
2.6 |
% |
|
|
2.6 |
% |
|
|
|
2.8 |
% |
|
|
2.8 |
% |
|
|
2.9 |
% |
|
| Information about plan assets at fair value |
The following tables present information about the fair value of plan assets of Japanese entities’ plans as of March 31, 2025 and 2026 within the fair value hierarchy.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Private equity and pooled investments (1) |
|
¥ |
|
|
|
¥ |
1,545 |
|
|
¥ |
9,418 |
|
|
¥ |
10,963 |
|
Japanese government securities |
|
|
24,713 |
|
|
|
|
|
|
|
|
|
|
|
24,713 |
|
Investment trust funds and other (2)(3) |
|
|
|
|
|
|
10,535 |
|
|
|
20,296 |
|
|
|
30,831 |
|
Life insurance company general accounts |
|
|
|
|
|
|
75,067 |
|
|
|
|
|
|
|
75,067 |
|
|
|
|
|
|
|
|
31,420 |
|
|
|
|
|
|
|
31,420 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
¥ |
24,713 |
|
|
¥ |
118,567 |
|
|
¥ |
29,714 |
|
|
¥ |
172,994 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
| |
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Private equity and pooled investments (1) |
|
¥ |
|
|
|
¥ |
584 |
|
|
¥ |
9,139 |
|
|
¥ |
9,723 |
|
Japanese government securities |
|
|
19,954 |
|
|
|
|
|
|
|
|
|
|
|
19,954 |
|
Investment trust funds and other (2)(3) |
|
|
|
|
|
|
10,026 |
|
|
|
20,739 |
|
|
|
30,765 |
|
Life insurance company general accounts |
|
|
|
|
|
|
74,968 |
|
|
|
|
|
|
|
74,968 |
|
|
|
|
|
|
|
|
28,866 |
|
|
|
|
|
|
|
28,866 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
¥ |
19,954 |
|
|
¥ |
114,444 |
|
|
¥ |
29,878 |
|
|
¥ |
164,276 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (1) |
Includes corporate type equity investments. |
| (2) |
Includes primarily debt investment funds. Hedge funds and real estate funds are also included. |
| (3) |
Certain plan assets that are carried at fair value using net asset value per share as a practical expedient have not been classified in the fair value hierarchy. As of March 31, 2025 and 2026, the fair value of these assets was ¥35,529 million and ¥38,092 million, respectively. |
|
| Information about plan assets for which Level 3 inputs are utilized to determine fair value |
The following tables present information about plan assets of Japanese entities’ plans for which Nomura has utilized significant Level 3 valuation inputs to estimate fair value.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
| |
|
Year ended March 31, 2025 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Private equity and pooled investments |
|
¥ |
16,321 |
|
|
¥ |
(3,608 |
) |
|
¥ |
(3,295 |
) |
|
¥ |
9,418 |
|
Investment trust funds and other |
|
|
27,022 |
|
|
|
(1,245 |
) |
|
|
(5,481 |
) |
|
|
20,296 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
¥ |
43,343 |
|
|
¥ |
(4,853 |
) |
|
¥ |
(8,776 |
) |
|
¥ |
29,714 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
| |
|
Year ended March 31, 2026 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
Private equity and pooled investments |
|
¥ |
9,418 |
|
|
¥ |
415 |
|
|
¥ |
(694 |
) |
|
¥ |
9,139 |
|
Investment trust funds and other |
|
|
20,296 |
|
|
|
1,215 |
|
|
|
(772) |
|
|
|
20,739 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
¥ |
29,714 |
|
|
¥ |
1,630 |
|
|
¥ |
(1,466 |
) |
|
¥ |
29,878 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Expected benefit payments |
The following table presents the expected benefit payments of Japanese entities’ plans during the next five fiscal years and in aggregate for the five fiscal years thereafter.
|
|
|
|
|
|
|
|
|
|
|
¥ |
16,926 |
|
|
|
|
16,288 |
|
|
|
|
14,758 |
|
|
|
|
13,291 |
|
|
|
|
12,450 |
|
|
|
|
57,471 |
|
|