NOMURA TRADING HOLDINGS CO.,LTD.

<p style="page-break-before:always; line-height:0.75pt; width:100%; font-size:0.75pt;"> </p><h3 class="smt_head2">3 [Dividend Policy]</h3><p class="smt_text2" style="text-align:justify;padding-left:13.5pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:15pt;">The Company recognizes returning profits to shareholders as one of its key management priorities. For dividends on common stock, we aim to make decisions by taking into account our financial performance and future outlook based on earnings trends, as well as balancing safety and retained earnings.</p><p class="smt_text2" style="text-align:justify;padding-left:13.5pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:15pt;">Going forward, we are committed to improving our financial position through reducing interest-bearing debt and redeeming preferred stock, as well as strengthening profitability, with the goal of increasing net assets per share. Under our Articles of Incorporation, which provide that "dividend distributions may be executed by board of directors resolution pursuant to Article 459, Paragraph 1 of the Companies Act," the board of directors serves as the decision-making body for dividend distributions.</p><p class="smt_text2" style="text-align:justify;padding-left:13.5pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:15pt;">For the current fiscal year, based on the above policy, we have decided to implement prescribed dividends for preferred stock.</p><p class="smt_text2" style="text-align:justify;padding-left:13.5pt;padding-right:0pt;margin-top:0pt;margin-bottom:0pt;text-indent:9pt;font-family:'ＭＳ 明朝';letter-spacing:0pt;line-height:15pt;">The dividend distribution for the current fiscal year is as follows.</p><div class="tbld" style="margin-left:0pt;margin-right:0pt;margin-top:0pt;margin-bottom:0pt;"><table cellspacing="0" cellpadding="0" style="border-collapse:collapse;border:solid 0pt #000000;width:465pt;"><colgroup><col style="width:195pt;min-width:195pt;"/><col style="width:135pt;min-width:135pt;"/><col style="width:135pt;min-width:135pt;"/></colgroup><tr style="height:22.5pt"><td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-bottom-style:solid;border-bottom-width:0.75pt;border-left-style:solid;border-left-width:0.75pt;border-right-style:solid;border-right-width:0.75pt;"><p class="smt_tblC">Resolution Date</p></td><td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-bottom-style:solid;border-bottom-width:0.75pt;border-left-style:solid;border-left-width:0.75pt;border-right-style:solid;border-right-width:0.75pt;"><p class="smt_tblC">Total Dividend Amount (Thousands of Yen)</p></td><td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-bottom-style:solid;border-bottom-width:0.75pt;border-left-style:solid;border-left-width:0.75pt;border-right-style:solid;border-right-width:0.75pt;"><p class="smt_tblC">Dividend per Share (Yen)</p></td></tr><tr style="height:22.5pt"><td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-bottom-style:solid;border-bottom-width:0.75pt;border-left-style:solid;border-left-width:0.75pt;border-right-style:solid;border-right-width:0.75pt;"><p class="smt_tblL" style="text-align:center;padding-right:0pt;">Board of Directors Meeting, May 27, 2016</p></td><td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-bottom-style:solid;border-bottom-width:0.75pt;border-left-style:solid;border-left-width:0.75pt;border-right-style:solid;border-right-width:0.75pt;"><p class="smt_tblR">30,132</p></td><td valign="middle" style="vertical-align:middle;border-top-style:solid;border-top-width:0.75pt;border-bottom-style:solid;border-bottom-width:0.75pt;border-left-style:solid;border-left-width:0.75pt;border-right-style:solid;border-right-width:0.75pt;"><p class="smt_tblR">4.15</p></td></tr></table><p style="clear:both; line-height:0.75pt; width:100%; font-size:0.75pt;"> </p></div><p class="smt_text6"> </p>

<p>We determine dividends based on a fundamental policy that takes into account our business performance and future outlook, balanced with financial safety and retained earnings. We aim to increase net assets per share through improving our financial structure by reducing interest-bearing debt and redeeming preferred stock, as well as by strengthening our earning power.</p>

NOMURA TRADING HOLDINGS CO.,LTD. (E02508) Dividends

Dividend Policy

Dividend per Share

Payout Ratio

Dividend Yield

Dividend History (Forecasts, Revisions, Actuals)