• Rakuten average return on tangible equity for 2023 was 399.92, a 203.57% decline from 2022.
• Rakuten average return on tangible equity for 2022 was -386.13, a 405.74% decline from 2021.
• Rakuten average return on tangible equity for 2021 was -76.35, a 46.78% increase 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.