SCHEDULE: Nomura Holdings Increases Stake in BJ's Restaurants to 8%

Nomura Holdings Inc. and its subsidiaries reported an 8% beneficial ownership stake in BJ's Restaurants Inc., primarily through shared voting and dispositive power.

Summary

• Nomura Holdings Inc. beneficially owns 1,698,380 shares of BJ's Restaurants Inc. common stock, representing 8% of the class.
• This ownership includes 1,543,264 shares held by Nomura Global Financial Products, Inc. (NGFP) and 10,916 shares held by Nomura Securities International, Inc. (NSI).
• Additionally, 144,200 shares underlying call options exercisable within 60 days are beneficially owned by NSI.
• NGFP and NSI are wholly owned subsidiaries of Nomura Holdings, Inc.
• The percentage of class is calculated based on 21,232,000 shares outstanding as of September 30, 2025, as reported in the Issuer's quarterly report on Form 10-Q.
• Nomura Global Financial Products, Inc. separately reported beneficial ownership of 1,543,264 shares, representing 7.3% of the class.

Sentiment

Score: 6

Explanation: The filing is a routine disclosure of beneficial ownership, indicating a significant institutional stake. While not directly impacting the company's operational performance, increased institutional investment can be viewed as a neutral to slightly positive signal of investor confidence.

Positives

• Increased institutional ownership by Nomura Holdings Inc. and its subsidiaries, reaching 8% of BJ's Restaurants Inc. common stock.
• The investment includes both direct shares and call options, indicating a structured approach to the position.

Future Outlook

This Schedule 13G filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance regarding the issuer's future performance or strategic plans.

Industry Context

The filing indicates a significant institutional investment by a major financial services group, Nomura Holdings, into a publicly traded restaurant chain, BJ's Restaurants Inc. This reflects ongoing investor interest in the consumer discretionary sector, particularly in established restaurant brands.

Comparison to Industry Standards

• This filing is a standard beneficial ownership disclosure (Schedule 13G) and does not provide operational or financial results that would allow for a direct comparison to industry benchmarks or specific comparable companies. It solely reports the ownership stake of Nomura Holdings Inc. in BJ's Restaurants Inc.

Related Party Transactions

• Nomura Global Financial Products, Inc. and Nomura Securities International, Inc. are wholly owned subsidiaries of Nomura Holdings, Inc., and their beneficial ownership is aggregated under Nomura Holdings, Inc.

Stakeholder Impact

• Shareholders: Increased institutional ownership may be perceived as a vote of confidence, potentially influencing market sentiment.
• Management: Awareness of a significant institutional holder may influence strategic decisions, though this is a passive stake.

Key Dates

Keywords

Nomura Holdings, BJ's Restaurants, Schedule 13G, Beneficial Ownership, Institutional Investment, Equity Stake, Restaurant Sector, Common Stock