• Toray Industries average return on tangible equity for 2023 was 13.8, a 39.97% decline from 2022.
• Toray Industries average return on tangible equity for 2022 was 22.99, a 14.09% decline from 2021.
• Toray Industries average return on tangible equity for 2021 was 20.15, a 36.89% 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.