# NISSAN MOTOR CO., LTD.: business model and financials

> Latest period: FY ending Mar 2026, consolidated, J-GAAP
> Unit: JPY millions
> Sources: 有価証券報告書－第127期(2025/04/01－2026/03/31) (S100YH2B)
> Page: https://vizora.meequs.com/en/company/nissan-motor
> Retrieved: 2026-09-30T17:07:58.309Z

## Company

Nissan, founded in 1933, is a company in Automobiles listed on TSE Prime. It has 120,079 employees (consolidated).

| Field | Value |
| --- | ---: |
| Legal name | NISSAN MOTOR CO., LTD. |
| Ticker | 7201 |
| Stock price | View on Yahoo Finance (https://finance.yahoo.co.jp/quote/7201.T) |
| Listing | TSE Prime |
| Head office | 横浜市神奈川区宝町2番地 |
| Representative (per filing) | 代表執行役社長兼最高経営責任者 イヴァン エスピノーサ |
| Founded | Dec 1933 |
| Share capital | ¥605.8B |
| Employees (consolidated) | 120,079 |
| Average salary (parent only) | ¥8.6M |
| Fiscal year end | March |
| Website | www.nissan-global.com (https://www.nissan-global.com/) |
| Corporate number | 9020001031109 |
| EDINET | E02142 |
| Industries (Vizora) | Automobiles, Leasing |

> Profile source: annual securities report (S100YH2B, filed 2026-06-22). As of filing

## Five-axis industry profile

Primary industry: Automobiles (2026-03-31)

| Axis | Industry percentile | Peers |
| --- | ---: | ---: |
| Revenue growth | 21.4 | 7 |
| Profitability | 18.8 | 8 |
| Cash conversion | 92.9 | 7 |
| Efficiency | 18.8 | 8 |
| Financial strength | 50 | 3 |

Each axis is shown independently. Missing values are labeled unavailable; no combined score is calculated. Industry rank is not an investment recommendation.

## Key points (generated from figures)

- About 90% of Nissan's sales come from Automobile, with Sales financing making up much of the rest.
- Out of every ¥100 of sales, about ¥1 is left as operating profit.
- Revenue changed -4.9% from the prior year, operating profit -16.9%.

## Key figures at a glance

| Metric | Value | Note |
| --- | ---: | ---: |
| Revenue | ¥12T |  |
| Operating income | ¥58B | Margin 0.5% |
| Net income | -¥533.1B | Margin -4.4% |
| Free cash flow | ¥299.8B |  |
| Largest business | Automobile | of segment revenue 89.6% |
| Employees (consolidated) | 120,079 |  |
| EPS | ¥-64.72 |  |
| Book value per share | ¥511.59 |  |
| Equity ratio | 24.2% |  |
| Shares outstanding | 3,713,998,000 |  |
| Treasury shares | 15,355,500 |  |
| Shareholders | 524,969 |  |
| Average salary (parent only) | ¥8.6M | Filing company only |
| Cash ratio | 11.4% | Net cash -¥4.13T · Cash ÷ revenue 18.9% |
| Vs. industry median margin | -1.3 pp | Automobiles |
| ROA | -2.7% | Derived from disclosed figures |

## Notable figures

- FY2026, one segment accounts for 100% of positive segment profit
- FY2026, segment profit share differs by 90 points

## What changed in 5 years

| Metric | FY ending Mar 2021 | FY ending Mar 2026 | Change |
| --- | ---: | ---: | ---: |
| Revenue | ¥7862572000000 | ¥12007888000000 | +52.7% |
| Operating income | ¥-150651000000 | ¥58005000000 | — |
| Operating margin | -1.9% | 0.5% | +2.4 pp |
| Employees | 131,461 people | 120,079 people | -8.7% |
| Cash and equivalents | ¥2034026000000 | ¥2264801000000 | +11.3% |

### Change in segment revenue mix

Span: FY ending Mar 2021 → FY ending Mar 2026. Stable segment keys are connected; unmatched shares are marked as new or reorganized. Shares use total segment revenue.

| Flow | Revenue share |
| --- | ---: |
| 自動車事業 → 自動車事業 | 87.5% |
| 販売金融事業 → 販売金融事業 | 10.4% |
| 販売金融事業 → 事業再編・廃止 | 2.1% |
| 新設・再編 → 自動車事業 | 2.1% |

Segment revenue source references: 4 (derived)

## Income statement（FY ending Mar 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Revenue | 12,007,888 | 100.0% | S100YH2B |
| Cost of revenue | 10,467,932 | 87.2% | S100YH2B |
| Gross profit | 1,539,956 | 12.8% | S100YH2B |
| SG&A | 1,481,951 | 12.3% | S100YH2B |
| Operating income | 58,005 | 0.5% | S100YH2B |
| Ordinary income | 1,081 | 0.0% | S100YH2B |
| Pretax income | -440,380 | -3.7% | S100YH2B |
| Income tax | 86,286 | 0.7% | S100YH2B |
| Net income | -526,666 | -4.4% | S100YH2B |
| Net income attributable to owners | -533,095 | -4.4% | S100YH2B |

## Per ¥100 of revenue（FY ending Mar 2026）

| Part | JPY |
| --- | ---: |
| Cost of revenue | 87 |
| SG&A | 12 |
| Operating income | 1 |
| (Ref.) Net income | -4 |

### Margin funnel

Gross margin 12.8% → Operating margin 0.5% → Net margin -4.4%
Derived from reported figures (DERIVED).

## Revenue and profit pattern

Pattern: Revenue and profit down
Revenue growth: -4.9%; Core profit growth: -16.9%
Operating leverage (core profit growth ÷ revenue growth): 3.41×
Calculated from comparable annual consolidated filings.

## Year over year（FY ending Mar 2025 → FY ending Mar 2026、JPY mn）

| Metric | Prior | Current | Change | % change |
| --- | ---: | ---: | ---: | ---: |
| Revenue | 12,633,214 | 12,007,888 | -625,326 | -4.9% |
| Gross profit | 1,693,360 | 1,539,956 | -153,404 | -9.1% |
| Operating income | 69,798 | 58,005 | -11,793 | -16.9% |
| Net income attributable to owners | -670,898 | -533,095 | 137,803 | — |
| Operating cash flow | 753,687 | 794,674 | 40,987 | +5.4% |
| Free cash flow | 219,975 | 299,767 | 79,792 | +36.3% |

## History（JPY mn）

| Period | Revenue | Op. income | Op. margin | Net income | Op. CF | FCF | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| FY ending Mar 2017 | 11,720,041 | 742,228 | 6.3% | 663,499 | 1,335,473 | 831,728 | S100DHAZ |
| FY ending Mar 2018 | 11,951,169 | 574,760 | 4.8% | 746,892 | 1,071,250 | 672,453 | S100GB62 |
| FY ending Mar 2019 | 11,574,247 | 318,224 | 2.7% | 319,138 | 1,450,888 | 1,028,319 | S100J6CF |
| FY ending Mar 2020 | 9,878,866 | -40,469 | -0.4% | -671,216 | 1,185,854 | 721,635 | S100LU0G |
| FY ending Mar 2021 | 7,862,572 | -150,651 | -1.9% | -448,697 | 1,322,789 | 960,412 | S100OM2J |
| FY ending Mar 2022 | 8,424,585 | 247,307 | 2.9% | 215,533 | 847,187 | 531,985 | S100RAD2 |
| FY ending Mar 2023 | 10,596,695 | 377,109 | 3.6% | 221,900 | 1,221,051 | 898,326 | S100TXFX |
| FY ending Mar 2024 | 12,685,716 | 568,718 | 4.5% | 426,649 | 960,899 | 592,626 | S100W2UQ |
| FY ending Mar 2025 | 12,633,214 | 69,798 | 0.6% | -670,898 | 753,687 | 219,975 | S100YH2B |
| FY ending Mar 2026 | 12,007,888 | 58,005 | 0.5% | -533,095 | 794,674 | 299,767 | S100YH2B |

## People and productivity（FY ending Mar 2026, consolidated, J-GAAP）

| Metric | Value |
| --- | ---: |
| Revenue per employee (consolidated) | ¥100M |
| Operating income per employee (consolidated) | ¥483.1K |
| Net income per employee (consolidated) | -¥4.4M |

Employees, revenue and profit are consolidated. Average annual salary is a separate parent-company figure. Calculated from disclosed figures (DERIVED).

| History | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Employees (consolidated) | 134,111 | 131,719 | 133,580 | 132,790 | 120,079 |
| Average salary (parent company) | ¥8.1M | ¥8.5M | ¥8.8M | ¥9M | ¥8.6M |
| Average age (parent company) | 41.9 years | 41.7 years | 41.2 years | 41.0 years | 40.9 years |
| Average tenure (parent company) | 16.5 years | 16.4 years | 15.0 years | 14.7 years | 14.9 years |

Year over year: Employees (consolidated) -9.6% · Revenue (consolidated) -4.9%

## Segments（FY ending Mar 2026, consolidated, J-GAAP、JPY mn）

| Segment | Revenue | Share | Op. income | Op. margin |
| --- | ---: | ---: | ---: | ---: |
| Automobile | 10,760,298 | 89.6% | -292,890 | -2.7% |
| Sales financing | 1,247,590 | 10.4% | 297,942 | 23.9% |

### segmentMix — Revenue and profit mix

Calculated from disclosed figures (DERIVED). Shares use total segment revenue and total positive segment profit respectively. Difference = profit share − revenue share (pt). Inter-segment sales may prevent reconciliation to company revenue.

| Segment | Revenue share | Profit share | Difference (pt) | Margin |
| --- | ---: | ---: | ---: | ---: |
| Automobile | 89.6% | — | — | -2.7% |
| Sales financing | 10.4% | 100.0% | 89.6 | 23.9% |

Loss-making segment (excluded from profit shares): Automobile -292,890 JPY mn

Segment → industry: Automobile → Automobiles / Sales financing → Leasing

## Revenue by geography

No geographic revenue breakdown was disclosed.

## Cash flow（FY ending Mar 2026, consolidated, J-GAAP）

| Item | Amount (JPY mn) | % of revenue | Source |
| --- | ---: | ---: | ---: |
| Operating cash flow | 794,674 | 6.6% | S100YH2B |
| Capital expenditure | 494,907 | 4.1% | S100YH2B |
| Free cash flow | 299,767 | 2.5% | 算出 |
| Investing cash flow | -914,301 | -7.6% | S100YH2B |
| Financing cash flow | 51,903 | 0.4% | S100YH2B |
| Share buyback | 1 | 0.0% | S100YH2B |
| Change in cash | 67,288 | 0.6% | S100YH2B |
| Cash and equivalents | 2,264,801 | 18.9% | S100YH2B |

## Balance sheet

Figures are as of each fiscal year end. Derived values are marked as such in the source column. Lease liabilities are excluded from interest-bearing debt.

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 | Source |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | 1,792,692 | 2,014,387 | 2,126,206 | 2,197,513 | 2,264,801 | S100TXFX, S100W2UQ, S100YH2B |
| Total assets | 16,371,481 | 17,598,581 | 19,855,151 | 19,024,060 | 19,812,442 | S100RAD2, S100TXFX, S100W2UQ, S100YH2B |
| Net assets | 5,029,584 | 5,615,140 | 6,470,543 | 5,445,348 | 5,241,668 | S100TXFX, S100W2UQ, S100YH2B |
| Share capital | 605,814 | 605,814 | 605,814 | 605,814 | 605,814 | S100RAD2, S100TXFX, S100W2UQ, S100YH2B |
| Property, plant and equipment | 4,365,953 | 4,369,281 | 4,763,510 | 4,332,060 | 4,530,402 | S100RAD2, S100TXFX, S100W2UQ, S100YH2B |
| Intangible assets excluding goodwill | 119,187 | 172,477 | 186,469 | 216,554 | 167,768 | S100RAD2, S100TXFX, S100W2UQ, S100YH2B |
| Investment securities | 1,054,886 | 1,176,832 | 1,379,078 | 1,428,641 | 1,453,743 | S100RAD2, S100TXFX, S100W2UQ, S100YH2B |
| Current assets | 10,316,009 | 11,368,211 | 12,883,600 | 12,323,467 | 12,675,508 | S100RAD2, S100TXFX, S100W2UQ, S100YH2B |
| Current liabilities | 6,143,208 | 6,769,326 | 6,926,939 | 8,070,190 | 8,124,301 | S100RAD2, S100TXFX, S100W2UQ, S100YH2B |
| Trade payables | 1,395,642 | 1,912,151 | 2,229,210 | 2,070,387 | 2,142,560 | S100RAD2, S100TXFX, S100W2UQ, S100YH2B |
| Short-term borrowings | 1,050,036 | 1,101,978 | 837,266 | 876,104 | 1,182,520 | S100RAD2, S100TXFX, S100W2UQ, S100YH2B |
| Long-term borrowings | 1,775,221 | 2,013,251 | 2,921,628 | 2,661,356 | 2,539,845 | S100RAD2, S100TXFX, S100W2UQ, S100YH2B |
| Bonds | 2,263,336 | 2,058,096 | 2,351,216 | 1,708,532 | 2,671,312 | S100RAD2, S100TXFX, S100W2UQ, S100YH2B |
| Interest-bearing debt | 5,088,593 | 5,173,325 | 6,110,110 | 5,245,992 | 6,393,677 | 算出 |
| Total liabilities | 11,341,897 | 11,983,441 | 13,384,608 | 13,578,712 | 14,570,774 | S100RAD2, S100TXFX, S100W2UQ, S100YH2B |
| Non-controlling interests | 448,983 | 480,218 | 488,592 | 486,805 | 442,687 | S100RAD2, S100TXFX, S100W2UQ, S100YH2B |
| Equity attributable to owners of parent | 5,127,704 | 5,328,721 | 5,606,096 | 4,758,761 | 4,231,108 | S100RAD2, S100TXFX, S100W2UQ, S100YH2B |
| Retained earnings | 3,843,479 | 4,047,870 | 4,285,508 | 3,415,475 | 2,870,651 | S100RAD2, S100TXFX, S100W2UQ, S100YH2B |
| Treasury stock | -138,061 | -136,172 | -111,377 | -88,284 | -86,821 | S100RAD2, S100TXFX, S100W2UQ, S100YH2B |

### Assets and funding mix

| Assets | Share | Source |
| --- | ---: | ---: |
| Cash | 11% | S100YH2B |
| Property, plant and equipment | 23% | S100YH2B |
| Intangibles and goodwill | 1% | S100YH2B |
| Investment securities | 7% | S100YH2B |
| Other assets | 58% | S100YH2B |

| Funding source | Share | Source |
| --- | ---: | ---: |
| Trade payables | 11% | S100YH2B |
| Interest-bearing debt | 32% | 算出 |
| Other liabilities | 31% | S100YH2B |
| Equity | 26% | S100YH2B |

### Balance sheet history

| Metric | FY ending Mar 2022 | FY ending Mar 2023 | FY ending Mar 2024 | FY ending Mar 2025 | FY ending Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: |
| Total assets | 16,371,481 | 17,598,581 | 19,855,151 | 19,024,060 | 19,812,442 |
| Equity | 5,029,584 | 5,615,140 | 6,470,543 | 5,445,348 | 5,241,668 |
| Interest-bearing debt | 5,088,593 | 5,173,325 | 6,110,110 | 5,245,992 | 6,393,677 |
| Cash | 1,792,692 | 2,014,387 | 2,126,206 | 2,197,513 | 2,264,801 |

## Asset intensity and goodwill

Ratios are derived from reported values. Goodwill is used only when separately reported, never inferred from combined intangible assets.

| Metric | Value | Sources |
| --- | ---: | ---: |
| Asset intensity (fixed assets ÷ revenue) | 37.7% | S100YH2B |
| Fixed assets ÷ total assets | 22.9% | S100YH2B |
| Goodwill ÷ parent equity | — | —, S100YH2B |

### Cash quality

Net cash = cash − interest-bearing debt. Net debt ratio = (interest-bearing debt − cash) ÷ positive operating cash flow. Omit when debt components are incomplete; other ratios are derived from reported figures.

| Metric | Value |
| --- | ---: |
| Cash ratio (cash ÷ total assets) | 11.4% |
| Cash ÷ revenue | 18.9% |
| Net cash (cash − interest-bearing debt) | -¥4.13T |
| Net debt ÷ operating cash flow | 5.20× |
| Cash conversion (operating CF ÷ operating income) | 1370.0% |
| Cash vs. profit gap | 1,327,769 JPY mn |
| Shareholder returns / net income | — |
| Shareholder returns / FCF | — |
| Shareholder payments — dividends / net income | — |
| Shareholder payments — dividends / FCF | — |
| CapEx intensity (capex ÷ revenue) | 4.1% |
| Investing CF relative to operating CF | 115.1% |

## ROA and ROE

ROE is decomposed into net margin × asset turnover × financial leverage. Leverage can raise ROE, so the ratio alone does not assess a company's condition. Ending balances are used without a prior year; total equity approximates parent equity when unavailable.

| Period | Net margin | Asset turnover | ROA | Financial leverage | ROE | Sources |
| --- | ---: | ---: | ---: | ---: | ---: | ---: |
| 2022 | 2.6% | 0.51× | 1.3% | 3.19× | 4.2% | S100RAD2 |
| 2023 | 2.1% | 0.62× | 1.3% | 3.25× | 4.2% | S100TXFX |
| 2024 | 3.4% | 0.68× | 2.3% | 3.43× | 7.8% | S100W2UQ |
| 2025 | — | —× | -3.5% | —× | — | S100YH2B |
| 2026 | — | —× | -2.7% | —× | — | S100YH2B |

## Ownership

| Counterparty | Relation | Ratio | As of |
| --- | ---: | ---: | ---: |
| ナティクシス エスエイ アズ トラスティー フォー フィデューシー ニュートン 701910(常任代理人 株式会社みずほ銀行決済営業部) (注) | Major shareholder | 18.7% | 2026-03-31 |
| ルノー エスエイ(常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 17.1% | 2026-03-31 |
| 日本マスタートラスト信託銀行株式会社(信託口) | Major shareholder | 10.6% | 2026-03-31 |
| ザ バンク オブ ニユーヨーク トリーテイー ジヤスデツク アカウント(常任代理人 株式会社三菱UFJ銀行決済事業部) | Major shareholder | 2.4% | 2026-03-31 |
| 株式会社日本カストディ銀行(信託口) | Major shareholder | 1.9% | 2026-03-31 |
| マン インターナショナル アイシーブイシー マン ジャパン コアアルファ ファンド(常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 1.9% | 2026-03-31 |
| ステート ストリート バンク アンド トラスト カンパニー 505001(常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 1.7% | 2026-03-31 |
| CGML PB CLIENT ACCOUNT/COLLATERAL(常任代理人 シティバンク、エヌ・エイ東京支店) | Major shareholder | 1.1% | 2026-03-31 |
| 日本生命保険相互会社 | Major shareholder | 1.0% | 2026-03-31 |
| ジェーピー モルガン チェース バンク 385781(常任代理人 株式会社みずほ銀行決済営業部) | Major shareholder | 0.9% | 2026-03-31 |

## AI commentary（text by AI; the tables above are authoritative、claude-code）

- Nissan sold fewer cars, and revenue slipped from ¥12.6T to ¥12T, a change of -4.9%.
- Operating income was just ¥58B, a 0.5% margin.
- The net loss got smaller, though: -¥533.1B, against -¥670.9B a year earlier.
- Cash from operations rose +5.4% to ¥794.7B.

### Drivers

- Cost cuts absorbed much of the damage from US tariffs and currency swings.
- Its share of results from affiliates such as Dongfeng Motor, its Chinese joint venture, turned from a gain into a loss.
- The net loss narrowed mainly because write-downs on assets were smaller than the year before.
- The financing arm earned more as it set aside less for bad loans.

### Risks

- US tariffs and conflict in the Middle East are shaking up energy prices and parts supply.
- Price swings in battery metals like lithium and nickel feed straight into costs.
- Falling behind on electrification or tighter emissions rules would hurt results.

Cited: Annual Securities Report, 127th term (2025/04/01-2026/03/31) (経営者による財政状態、経営成績及びキャッシュ・フローの状況の分析); Annual Securities Report, 127th term (2025/04/01-2026/03/31) (事業等のリスク)

## Sources

| Document | ID | Published | URL |
| --- | ---: | ---: | ---: |
| 有価証券報告書－第127期(2025/04/01－2026/03/31) | S100YH2B | 2026-06-22 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YH2B,, |
| 有価証券報告書－第126期(2024/04/01－2025/03/31) | S100W2UQ | 2025-06-23 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100W2UQ,, |
| 有価証券報告書－第125期(2023/04/01－2024/03/31) | S100TXFX | 2024-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100TXFX,, |
| 有価証券報告書－第124期(2022/04/01－2023/03/31) | S100RAD2 | 2023-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100RAD2,, |
| 有価証券報告書－第123期(令和3年4月1日－令和4年3月31日) | S100OM2J | 2022-06-30 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100OM2J,, |
| 有価証券報告書－第122期(令和2年4月1日－令和3年3月31日) | S100LU0G | 2021-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100LU0G,, |
| 有価証券報告書－第121期(平成31年4月1日－令和2年3月31日) | S100J6CF | 2020-07-06 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100J6CF,, |
| 有価証券報告書－第120期(平成30年4月1日－平成31年3月31日) | S100GB62 | 2019-06-27 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100GB62,, |
| 有価証券報告書－第119期(平成29年4月1日－平成30年3月31日) | S100DHAZ | 2018-06-28 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100DHAZ,, |
| 有価証券報告書－第118期(2016/04/01－2017/03/31) | S100AQTH | 2017-06-29 | https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100AQTH,, |

## Key alliances (from the filing's material contracts)

| Partner | Type | Description | Source |
| --- | ---: | ---: | ---: |
| 日産東京販売ホールディングス | Supply/OEM | 日産車・日産部品の供給を受け販売 | S100YGG9 |
| VTホールディングス | Supply/OEM | 日産ブランド車・部品の特約販売契約 | S100YEXL |
| ゼロ | Alliance | 車両輸送業務の継続と戦略的パートナーシップ覚書 | S100WRNH |
| ルノー | Capital alliance | 株式の相互保有を含む新アライアンス契約 | S100YH2B |
| 三菱自動車 | Capital alliance | 資本参加を含む自動車事業全般の提携 | S100YH2B |
| ダイムラーAG | Capital alliance | 資本参加を含む戦略的協力（ルノーを含む） | S100YH2B |

## Definitions

- Amounts are in millions of JPY (rounded). The period is stated in each table heading
- Operating margin = operating income ÷ revenue. Net income is attributable to owners of the parent when disclosed
- Free cash flow (FCF) = operating cash flow − capital expenditure
- ¥100 model = breakdown per ¥100 of revenue (rounded so parts sum to 100)
- Segment revenues include inter-segment sales and may not sum to consolidated revenue
- Source IDs are EDINET document IDs (docID). "算出" (derived) means computed from other disclosed values
- All figures are extracted mechanically from filings. AI-written text never generates figures
- Source: company filings submitted to EDINET (Financial Services Agency of Japan). Figures were extracted, edited and processed, and charts and text were created, by Vizora — not by the FSA (used under the Public Data License v1.0).