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Non-trading securities

12 Months Ended

Mar. 31, 2017

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, 2016 and 2017.


	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
Japanese government, agency and municipal securities	¥	93,982	¥	5,708	¥	440	¥	99,250
Foreign government, agency and municipal securities		32,901		3,394		261		36,034
Corporate bonds		119,728		9,022		712		128,038
Equity securities		42,132		24,101		233		66,000

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



	Millions of yen
	March 31, 2017
	Cost and/or amortized cost		Unrealized gains and losses				Fair value
	Cost and/or amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
Japanese government, agency and municipal securities	¥	89,851	¥	3,953	¥	585	¥	93,219
Foreign government, agency and municipal securities	¥	25,326	¥	2,434	¥	198	¥	27,562
Corporate bonds		117,140		6,942		930		123,152
Equity securities		42,947		21,826		22		64,751

Total	¥	275,264	¥	35,155	¥	1,735	¥	308,684

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. For the year ended March 31, 2017, non-trading securities of ¥63,100 million were disposed of resulting in ¥4,696 million of realized gains and ¥1,304 million of realized losses. Total proceeds received from these disposals were ¥66,492 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, 2016 and 2017.

The following table presents an analysis of the fair value of non-trading debt securities by residual contractual maturity as of March 31, 2017. 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, 2017
			Years to maturity
	Total		Less than 1 year		1 to 5 years		5 to 10 years		More than 10 years
Non-trading debt securities	¥	243,933	¥	43,950	¥	120,059	¥	59,020	¥	20,904

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, 2016 and 2017.


	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
Japanese government, agency and municipal securities	¥	12,835	¥	437	¥	13,673	¥	3	¥	26,508	¥	440
Foreign government, agency and municipal securities		6,911		261		—		—		6,911		261
Corporate bonds		20,471		712		—		—		20,471		712
Equity securities		4,113		233		—		—		4,113		233

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


	Millions of yen
	March 31, 2017
	Less than 12 months				More than 12 months				Total
	Fair value		Gross unrealized losses		Fair value		Gross unrealized losses		Fair value		Gross unrealized losses
Japanese government, agency and municipal securities	¥	27,318	¥	585	¥	0	¥	0	¥	27,318	¥	585
Foreign government, agency and municipal securities		3,366		198		—		—		3,366		198
Corporate bonds		28,398		930		—		—		28,398		930
Equity securities		1,394		22		—		—		1,394		22

Total	¥	60,476	¥	1,735	¥	0	¥	0	¥	60,476	¥	1,735

As of March 31, 2016, the total number of non-trading securities in unrealized loss positions was 52. As of March 31, 2017, the total number of non-trading securities in unrealized loss positions was 41.

For the year ended March 31, 2016, other-than-temporary impairment losses recognized for non-trading equity securities and reported within Revenue—Other were ¥486 million. For the year ended March 31, 2016, credit loss component of other-than-temporary impairment losses recognized for non-trading debt securities was not significant.

For the year ended March 31, 2016, the non-credit loss component of other-than-temporary impairment losses recognized for non-trading debt securities and reported within Other comprehensive income (loss) were ¥(28) million. Other gross unrealized losses of non-trading securities were considered temporary.

For the year ended March 31, 2017, other-than-temporary impairment losses recognized for non-trading equity securities and reported within Revenue—Other were ¥1,080 million. For the year ended March 31, 2017, credit loss component of other-than-temporary impairment losses recognized for non-trading debt securities was ¥226 million.

For the year ended March 31, 2017, the non-credit loss component of other-than-temporary impairment losses recognized for non-trading debt securities and reported within Other comprehensive income (loss) were not significant. 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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