• Recruit Holdings average return on tangible equity for 2023 was 28.18, a 24.63% decline from 2022.
• Recruit Holdings average return on tangible equity for 2022 was 37.39, a 0.19% decline from 2021.
• Recruit Holdings average return on tangible equity for 2021 was 37.46, a 1.55% 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.