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Non-trading securities

12 Months Ended

Mar. 31, 2016

5. Non-trading securities:

The following tables present information regarding the cost and/or amortized cost, gross unrealized gains and losses and fair value of non-trading securities held by Nomura’s insurance subsidiary as of March 31, 2015 and 2016.


	Millions of yen
	March 31, 2015
	Cost and/or amortized cost		Unrealized gains and losses				Fair value
	Cost and/or amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
Government, agency and municipal securities⁽¹⁾	¥	106,785	¥	5,123	¥	36	¥	111,872
Other debt securities⁽²⁾		161,631		22,717		95		184,253
Equity securities⁽³⁾		40,315		22,751		230		62,836

Total	¥	308,731	¥	50,591	¥	361	¥	358,961


	Millions of yen
	March 31, 2016
	Cost and/or amortized cost		Unrealized gains and losses				Fair value
	Cost and/or amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
Government, agency and municipal securities⁽¹⁾	¥	84,926	¥	4,046	¥	162	¥	88,810
Other debt securities⁽²⁾		161,685		14,078		1,251		174,512
Equity securities⁽³⁾		42,132		24,101		233		66,000

Total	¥	288,743	¥	42,225	¥	1,646	¥	329,322

(1)	Primarily Japanese government, agency and municipal securities.

(2)	Primarily corporate debt securities.

(3)	Primarily Japanese equity securities.

For the year ended March 31, 2015, non-trading securities of ¥75,745 million were disposed of resulting in ¥5,008 million of realized gains and ¥15 million of realized losses. Total proceeds received from these disposals were ¥80,738 million. For the year ended March 31, 2016, non-trading securities of ¥63,752 million were disposed of resulting in ¥3,841 million of realized gains and ¥631 million of realized losses. Total proceeds received from these disposals were ¥66,962 million. Related gains and losses were computed using the average method. There were no transfers of non-trading securities to trading assets for the year ended March 31, 2015 and 2016

The following table presents an analysis of the fair value of non-trading debt securities by residual contractual maturity as of March 31, 2016. Actual maturities may differ from contractual maturities as certain securities contain features that allow redemption of the securities prior to their contractual maturity.


	Millions of yen
	March 31, 2016
			Years to maturity
	Total		Less than 1 year		1 to 5 years		5 to 10 years		More than 10 years
Non-trading debt securities	¥	263,322	¥	23,543	¥	150,072	¥	70,079	¥	19,628

The following tables present the fair value and gross unrealized losses of non-trading securities aggregated by the length of time that individual securities have been in a continuous unrealized loss position as of March 31, 2015 and 2016.


	Millions of yen
	March 31, 2015
	Less than 12 months				More than 12 months				Total
	Fair value		Gross unrealized losses		Fair value		Gross unrealized losses		Fair value		Gross unrealized losses
Government, agency and municipal securities	¥	17,536	¥	5	¥	13,127	¥	31	¥	30,663	¥	36
Other debt securities		12,814		95		—		—		12,814		95
Equity securities		2,064		230		—		—		2,064		230

Total	¥	32,414	¥	330	¥	13,127	¥	31	¥	45,541	¥	361


	Millions of yen
	March 31, 2016
	Less than 12 months				More than 12 months				Total
	Fair value		Gross unrealized losses		Fair value		Gross unrealized losses		Fair value		Gross unrealized losses
Government, agency and municipal securities	¥	4,611	¥	159	¥	13,673	¥	3	¥	18,284	¥	162
Other debt securities		35,606		1,251		—		—		35,606		1,251
Equity securities		4,113		233		—		—		4,113		233

Total	¥	44,330	¥	1,643	¥	13,673	¥	3	¥	58,003	¥	1,646

As of March 31, 2015, the total number of non-trading securities in unrealized loss positions was 26. As of March 31, 2016, the total number of non-trading securities in unrealized loss positions was 52.

For the years ended March 31, 2015 and 2016, other-than-temporary impairment losses recognized for non-trading equity securities and reported within Revenue—Other were ¥16 million and ¥486 million, respectively. For the year ended March 31, 2015, the credit loss component of other-than-temporary impairment losses recognized for non-trading debt securities was ¥98 million. For the year ended March 31, 2016, there were no credit loss component of other-than-temporary impairment losses recognized for non-trading debt securities. For the year ended March 31, 2015 and March 31, 2016, the non-credit loss component of other-than-temporary impairment losses recognized for Government, agency and municipal securities and other debt securities and reported within Other comprehensive income (loss) were ¥31 million and ¥(28) million. For the year ended March 31, 2015 and 2016, other gross unrealized losses of non-trading securities were considered temporary.

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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