• MONOTARO average return on tangible equity for 2023 was 35.08, a 1.27% decline from 2022.
• MONOTARO average return on tangible equity for 2022 was 35.53, a 2.76% decline from 2021.
• MONOTARO average return on tangible equity for 2021 was 36.54, a 1.69% 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.