Human Resource Management

Governance

The Human Resource, Wellness and D&I Committee deliberates on the Group's overall policies and goals regarding the management of human capital. The committee manages human capital across the Group and discusses the development of a human resources strategy that is linked to business strategy.
The content of committee deliberations will, in principle, be reported to the Board of Directors and the Management Committee at least once every six months. In addition, if there are any important matters related to the management of the Group, they will be reported to the Board of Directors and the Management Committee as needed.

Strategy

Approach to Human Capital

In our Group, we define “human capital management” as management which links our human resources strategy with our business strategy to become the sort of group we aspire to be (corporate philosophy and vision), and we position this as part of our value creation process. To become the sort of Group we aspire to be, we have established a “Group Personnel and Human Resources Development Vision” and are working on a human resources strategy aimed at maximizing our human capital.

Group Personnel and Human Resources Development Vision

Maximize people’s happiness and the prosperity of society by creating a virtuous cycle of employee growth and business growth.

Action Guideline
Integrated Report

Risk Management

Social and Environmental Risk Management

Group Human Resources Strategy

In June 2025, we established the following three key themes for our Group human resources strategy. We will further promote the Group's human capital management with the aim of realizing our 2030 Vision.

Key theme (1) Shared vision
Create a connection between personal goals and the company's vision

Key theme (2) Improved job satisfaction
Create an environment where each employee can demonstrate their abilities and grow

Key theme (3) Personnel placement and promotion
Balance business strategy-linked personnel placement with employee career development

Promotion of Wellness Management

Diversity and Inclusion

Overview of our DX strategy

Indicators and Targets

Performance Data

	Unit	FY22/3 results	FY23/3 results	FY24/3 results	FY25/3 results
Total training hours^*	Hours	23,855	30,334	80,260	101,627
Training hours per employee^*	Hours	4.21	3.87	10.08	11.58
Total training expenses	10 thousand yen	27,155	41,269	70,297	72,909
Training cost per employee	Yen	47,936	52,706	88,279	83,126

*

Covers only mandatory training and does not include open and selective training or e-learning courses. Please note that revisions to the method for calculating training hours were made for fiscal year ended March 2024.

Training Performance Data for Fiscal Year ended March 2025

Training	Subject	Number of training hours	Number of attending companies	Number of participants
Group-wide training	New employee introductory training	38	8	348
	New employee follow-up training	7	8	344
	Employees in their second year	14	8	298
	Employees in their third year	14	6	227
	Newly promoted managers to core positions^*1	22	7	220
	Newly promoted senior managers	28	3	56
	Newly promoted manager training	9	4	45
	Newly promoted general managers (management)	20	5	19
Training only provided for Nomura Real Estate Development	New employee introductory training	118	ー	68
	New employee follow-up training	7	ー	68
	Employees in their fourth year	7	ー	57
	Employees in their fourth year (career design)	7	ー	55
	Employees in their fourth year holding section chief positions (career management)	6	ー	54
	D3 class^*2	11	ー	73
	V1 position^*3	14	ー	106
	V1 position 2nd year (career design)	11	ー	92
	V1 3rd year (next generation leader development program)	30	ー	53
	V2 2nd year (next generation leader development program)	30	ー	64
	Training (new section managers)	7	ー	43
	Training (new department managers)	7	ー	18
	Career training (age 40)	7	ー	54
	Career training (age 50)	7	ー	33
	Career training (age 57)	7	ー	54
	INSIDES training	3	ー	47
	Financial training for employees in their fourth to sixth year	7	ー	298

*1

After 13 years of service (generally)
*2

After 7 years of service (generally)
*3

After 9 years of service (generally)

ESG Data (Social)

Group Personnel Division Meetings Held

The Group holds monthly Group Personnel Division Meetings attended by officers responsible for human resources and managers of human resource divisions of Group companies. Participants exchange information and opinions regarding the personnel system, human resources development, and each company’s recruitment situation and wellness measures, and they share best practices in order to implement Group-wide measures for improving human capital.

Initiatives

In order to ensure improvement in the abilities and motivation of all employees in the Group so that they can pursue their work as highly skilled professionals, we implement joint Group training programs in addition to those programs implemented individually by Group companies. One such program aimed at a portion of new managers involves six months of lectures and discussions around the theme of Designing the Future Management of the Nomura Real Estate Group and examining the ideal of what the Group should be, after which participants come up with management-related ideas.
Nomura Real Estate Development has established N-COLLEGE, a self-skills development system for employees. Participants are given support for obtaining real estate-related professional qualifications, such as real estate notary, first-class architect, certified real estate appraiser, and other recommended qualifications, and are provided with programs aimed at acquiring business skills, including business strategy, accounting, finance and other management skills, as well as language programs to develop global human resources, and digital transformation-related programs, among others. In addition, the Residential Development Division provides specialized training and knowledge sharing opportunities regarding product strategies and quality control for technical employees, including Building Knowledge Courses, the PROUD Quality Conference and Sustainability Lectures. Nomura Real Estate Development's basic human resource development policy places career at the center of human resource development, seeking to cultivate proactive personnel with a medium- to long-term perspective who can respond to changing times to become the managerial leaders that will foster future innovation. The aim is to ensure each employee can perform higher level duties and acquire a broad range of knowledge and experience.

Human Resource Development Programs for Career-track Employees (Business Skills)

■Training Programs for Career-track Employees

■Training Programs (Specialist Personnel/Particular Specialist Personnel)

■Training Programs (Business Associates)

Incentive from a Long-Term Perspective

Nomura Real Estate Group introduced ESOP Trust for Granting Stock for employees of Nomura Real Estate Holdings and Group companies from fiscal year ended March 2020. The aim is to foster a sense of belonging to, and involvement in the management of, the Group among Group employees so as to enhance their enthusiasm and morale, leading to improved performance and increased share price over the long term.

News Release(Japanese text only)

Fair Evaluations and Remuneration

To ensure fairness in working conditions, the Group does not differentiate on the basis of gender the remuneration for employees in the same position, which falls under the “equal pay for equal work” rule in our Human Rights Policy. Moreover, the Group operates fair employee evaluation and remuneration programs by creating mechanisms whereby the opinions of employees can be heard by human resource divisions and supervisors.

Initiatives to Reduce the Gender Wage Gap

Target Management System

The Group introduced a target management system so that employees can take the initiative in their jobs and work with managers and supervisors toward achieving their targets. Every six months, all employees meet with their supervisors and, based on their advice, set personal targets, and bonuses are paid based on the degree of achievement of those targets. In addition, reviews of the abilities and actions that serve as the basis for promotions and raises are also conducted regularly to maintain fairness and strengthen employee motivation.

Evaluation of Superiors

Once a year, Nomura Real Estate Development employees complete a questionnaire regarding the skills, performance, personality, etc., of their supervisors and submit the questionnaire, via a third-party system, to the Human Resources Division.

Fostering a Corporate Culture that Encourages Challenges

Nomura Real Estate Group Awards

The Group has presented the Nomura Real Estate Group Awards every year since 2016 to foster a corporate culture in which employees are willing to tackle the challenges of value creation through innovation, strengthen Group synergy, and raise individual and organizational motivation. Under this program, exceptional businesses, products and services of the year are recognized.

Major recipients in fiscal year ended March 2024

Project aimed at addressing societal need for after-school programs
NRE Group-wide project: Monzen-Nakacho PJ
Trial office initiatives in preparation for relocation to a new head office

Evaluation Criteria

Reform

Innovation

Improvement in customer satisfaction

Group synergy

Sustainability

Continuity and Perseverance

Business Idea Proposal Program

Since 2017, the Group has been operating a group-wide innovation promotion system (known internally as NEXPLORER) with the aim of cultivating innovative human resources and fostering a culture of innovation.
Every year, over 100 participants from across the Group are invited to take part in workshops with both in-house and external lecturers, and management proposals are made regarding new areas that the Group should tackle.
A variety of ideas have been proposed through this system to date. Among these, the first commercial project under this system, the “TOMORE” co-living rental residence, was approved in October 2022, and “TOMORE Shinagawa Nakanobu” was completed in February 2025, contributing to the creation of new businesses.
Going forward, we will continue to improve the system in light of the constantly changing external environment, in order to maximize people's happiness and the prosperity of society.

[Pattern 1] Completion of “TOMORE Shinagawa Nakanobu”
TOMORE Shinagawa Nakanobu, a large rental residence with integrated work and living facilities managed by a community, was completed in February 2025. This property is our first “co-living rental residence” and was developed just a one-minute walk from Nakanobu Station on the Toei Asakusa Line. In addition to compact living spaces equipped with showers, toilets, sinks, and other plumbing fixtures, as well as storage space, the building also features a 95m2 co-living space with a roof balcony as a common area, and an 85m2 co-working space available 24 hours a day, operated by a dedicated management staff member known as a “community organizer.”

Click here for details on TOMORE (TOMOA) Shinagawa-Nakanobu (Japanese text only)