nomura holdings inc-spon adr (NMR) Key Developments
Nomura Holdings, Inc. Proposes Amendments to the Articles of Incorporation
May 19 15
Nomura Holdings, Inc. announced that its board of directors adopted a resolution to submit proposals for amendments to the Company's Articles of Incorporation to the 111th Annual General Meeting of Shareholders to be held on June 24, 2015. Proposed Amendments: Article 5. (Governing Bodies) The Company shall set up, in addition to the shareholders meetings and directors, the following organs; board of directors; Nomination Committee, Audit Committee, and Compensation Committee; accounting auditors. Article 33. (Limitation of Liabilities of Directors): 1. [no change]; 2. The Company may execute with directors (excluding a person who serves as an executive director, etc.) an agreement that will limit their liabilities for damages due to negligence of their duties pursuant to the provision of Article 427, Paragraph 1 of the Companies Act. However, the maximum amount of damages under the agreement shall be the higher of either the amount previously determined which shall not be less than JPY 20 million or the amount set forth by laws or ordinances. Article 44. (Record Date for Distribution of Surplus): 1. The record dates for dividends of the Company shall be September 30 and March 31 of each year. 2. [no change]; 3. [no change].
United States District Court for the Southern District of New York Issues Judgment against RBS Securities, Nomura Holdings, Inc and its Subsidiaries
May 18 15
On May 15, 2015, the United States District Court for the Southern District of New York issued a judgment in the proceedings against Nomura Asset Acceptance Corporation (NAAC), Nomura Home Equity Loan Inc. (NHEL), Nomura Credit & Capital, Inc., Nomura Securities International, Inc. and Nomura Holding America Inc., each a Nomura Holdings, Inc. and RBS Securities Inc. as an underwriter commenced by the Federal Housing Finance Agency (FHFA), as conservator for the government sponsored enterprises, Federal National Mortgage Association and Federal Home Loan Mortgage Corporation (the GSEs) in September 2011. In September 2011, the FHFA commenced proceedings in the United States District Court for the Southern District of New York against numerous issuers, sponsors and underwriters of residential mortgage-backed securities (RMBS) and their controlling persons, including the company's U.S. subsidiaries. The action alleged that the GSEs purchased RMBS issued by NAAC and NHEL for which the offering materials contained untrue statements or omitted material facts concerning the underwriting standards used by the original lenders and the characteristics of the loans underlying the securities and sought rescission of its purchases. The District Court held, after a bench trial, that FHFA proved that the offering materials for certificates issued by NAAC and NHEL and purchased by the GSEs contained material misstatements entitling FHFA to rescission. The District Court ordered the defendants to pay $806 million to GSEs upon GSEs' delivery of the certificates at issue to the Defendants. The company will review the judgment and will consider all options, including appeal. This judgment is expected to have insignificant impact on the company's consolidated performance. Further notice will be released if any matters requiring disclosure should occur in the future.
US District Judge Orders Nomura Holdings Inc and Royal Bank of Scotland Group Plc to Pay USD 806 Million in Damages to the Federal Housing Finance Agency
May 18 15
Nomura Holdings Inc. and Royal Bank of Scotland Group Plc have been ordered to pay a combined USD 806 million in damages to the Federal Housing Finance Agency. The order came from US District Judge Denise Cote in Manhattan, who ruled against the two banks in a case revolving around mortgage-backed securities (MBS). The FHFA took Nomura and RBS to court, claiming they sold state-owned mortgage lenders Fannie Mae and Freddie Mac USD 2 billion of bonds backed by defective mortgages. Of the seven securitisations dealt with at the trial, RBS was the underwriter in four cases. Cote ruled that Nomura and RBS misled the US institutions by failing to describe correctly the mortgage loans sold to them. Fannie Mae will get USD 26.6 million and Freddie Mac will receive USD 779.4 million. The order also returns to the two banks the mortgage bonds at the centre of the lawsuit. According to an expert witness for the defence, they were valued at between USD 434 million and USD 479 million as of March 26, 2015.
Nomura Holdings, Inc. Presents at Nomura 2015 2nd Annual Gaming, Leisure and Lodging Conference, May-19-2015 09:50 AM
May 13 15
Nomura Holdings, Inc. Presents at Nomura 2015 2nd Annual Gaming, Leisure and Lodging Conference, May-19-2015 09:50 AM. Venue: World Wide Plaza, 309 Wear 49th Street, New York, NY 10019, United States. Speakers: wendy Liu, China Stratergist.
Nomura Holdings, Inc. Announces Consolidated Earnings Results for the Fourth Quarter Ended March 2015
May 12 15
Nomura Holdings, Inc. announced consolidated earnings results for the fourth quarter ended March 2015. For the quarter, the company reported net revenue of JPY 434.5 billion. Income before income taxes was JPY 105 billion. Net income was JPY 82 billion. ROE was 12.1%. Diluted EPS was JPY 22.08.