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Investor Presentaiton

Japan in the World NOMURA The global economy as the pandemic endgame approaches Approaching the pandemic endgame 1 Accelerated inflation due to supply constraints 2 Emerging concerns of economic slowdown in China 3 Reopening of economies looks set to ease supply constraints 4 Low probability of financial disequilibrium 5 A risk of greenflation 6 Risk of asymmetric reopening of economies Japan enters the reopening phase Significant job losses have been avoided in Japan Subdued wage growth remains unchanged 7 8 9 10 Disadvantages of a cheaper Japan To reboot Japan's potential growth rate Green and digital will drive structural reform in Japan 11 12 13 This document is copyrighted material belonging to Nomura Securities Please see the last page for details 1
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