SCHEDULE: Nomura Holdings Amends Monro Inc. Stake

Nomura Holdings Inc. and its subsidiary Nomura Global Financial Products Inc. reported a 3.6% beneficial ownership stake in Monro, Inc. as of June 30, 2025.

Summary

• Nomura Holdings Inc. and its wholly-owned subsidiary, Nomura Global Financial Products Inc., jointly reported beneficial ownership of Monro, Inc. common stock.
• As of June 30, 2025, the aggregate amount beneficially owned by each reporting person is 1,065,339 shares.
• This represents 3.6% of Monro, Inc.'s common stock outstanding.
• The percentage is calculated based on 29,978,942 shares outstanding as of June 28, 2025, derived from 40,083,630 issued shares minus 10,104,688 treasury shares.
• Nomura Global Financial Products Inc. holds shared voting and dispositive power over all 1,065,339 shares.

Sentiment

Score: 6

Explanation: Neutral to slightly positive. The filing is a routine disclosure of a passive investment by a reputable financial institution, which can be seen as a vote of confidence, but it contains no new operational or financial news about the issuer.

Positives

• A significant institutional investor, Nomura Holdings, maintains a notable stake in Monro, Inc., indicating continued interest.

Future Outlook

The filing is a beneficial ownership report and does not contain forward-looking statements or guidance from Monro, Inc. or the reporting entities regarding Monro's future performance.

Management Comments

• The filing includes a certification from Samir Patel, Managing Director of Nomura Holdings Inc. and Authorized Officer of Nomura Global Financial Products Inc., stating that the securities were acquired and are held in the ordinary course of business and not for the purpose or effect of changing or influencing control of the issuer.

Industry Context

This filing reflects a routine disclosure by a major financial institution, Nomura Holdings, regarding its passive investment in Monro, Inc. It does not provide specific insights into broader industry trends for automotive services or financial markets, beyond indicating continued institutional investment activity.

Comparison to Industry Standards

• This filing is a standard Schedule 13G, indicating a passive investment below the 5% threshold for active influence. It does not provide performance metrics for comparison to industry standards or specific comparable companies or projects. The 3.6% stake is a typical size for a passive institutional holding.

Stakeholder Impact

• Shareholders: Provides transparency on a significant institutional holding, potentially reinforcing confidence.
• Employees, Customers, Suppliers, Creditors: No direct impact from this ownership disclosure.

Key Dates

Recommendation

This Schedule 13G filing is a routine disclosure of a passive investment by Nomura Holdings Inc. in Monro, Inc. It indicates that a major financial institution holds a 3.6% stake, which is a positive sign of institutional interest. However, the filing provides no new operational or financial performance data for Monro, Inc. that would warrant a change in investment thesis. The holding is below the 5% threshold for active influence, suggesting a passive investment strategy. Therefore, without additional information on Monro's fundamentals or market conditions, a 'hold' recommendation is appropriate, maintaining current positions based on existing analysis.

Keywords

Monro Inc., Nomura Holdings, Nomura Global Financial Products, Beneficial Ownership, Schedule 13G, Common Stock, Institutional Investor, Automotive Services