• Obayashi average return on tangible equity for 2023 was 5.73, a 26.73% decline from 2022.
• Obayashi average return on tangible equity for 2022 was 7.82, a 14.16% decline from 2021.
• Obayashi average return on tangible equity for 2021 was 9.11, a 20.44% 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.