• Nidec average return on tangible equity for 2023 was 6.86, a 64.33% increase from 2022.
• Nidec average return on tangible equity for 2022 was 19.23, a 17.72% decline from 2021.
• Nidec average return on tangible equity for 2021 was 23.37, a 48.48% 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.