• Central Japan Railway average return on tangible equity for 2023 was 0.29, a 85.35% increase from 2022.
• Central Japan Railway average return on tangible equity for 2022 was 1.98, a 54.48% decline from 2021.
• Central Japan Railway average return on tangible equity for 2021 was 4.35, a 51.56% decline from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.