Independent Leading Corporate Governance Research

Metrical Inc

METRICAL INC. is an independent leading Corporate Governance research firm in Japan where Corporate Governance is increasingly recognized as an important element on corporate management in these days. Thus, CG research and solutions would become an essential component of global capital markets and play important to contribute to transparency of the markets and maximize shareholders’ value in Japan. 

METRICAL INC. provides Corporate Governance research and analysis including rating services, and  also offers investment research and IR services with solutions and customized profound research on CG and IR issues.

The Problem of the Effectiveness of Independent Directors: A History of the “Evolution” of Formalism

Investors Are Trying to Assess a Company Through Price Pass-Through

History Shows that Unique Ideas Emerge when Overcoming Harsh External Environments

Since This Revision Solely Seeks Substantive Enhancement, Achieving Effectiveness Will Be Difficult

Although It'll Take Time, There's No Need to Be Pessimistic if Management Reform Is Finally Underway

Investors Are Less Interested in Companies that Generate Little Cash Despite Shareholder Returns

The Effectiveness of BOD Is the Most Critical Factor in Implementing Initiatives that Create Value

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>While Corporate Governance Code requires companies to disclose explanations of cash allocation in corporate governance reports, the primary focus should be explained to shareholders—to whom free cash flow belongs—at AGMs.</li>
<li>Corporate Governance Code states that “it’s desirable to disclose Annual Securities Report 3-weeks prior to AGMs.” Companies should implement this to ensure adequate explanation and disclosure of information to shareholders.</li>
<li>It is clear that merely stating a superficial cash allocation policy will result in shareholder returns being limited to only slightly more than they are now.</li>
</ul>


While Corporate Governance Code requires companies to disclose explanations of cash allocation in corporate governance reports, the primary focus should be explained to shareholders—to whom free cash flow belongs—at AGMs.
Corporate Governance Code states that “it’s desirable to disclose Annual Securities Report 3-weeks prior to AGMs.” Companies should implement this to ensure adequate explanation and disclosure of information to shareholders.
It is clear that merely stating a superficial cash allocation policy will result in shareholder returns being limited to only slightly more than they are now.


Accountability to Shareholders, Transparency, and Governance that Embraces Diverse Values Are Needed

TSE Tokyo Price Index TOPIX

Accountability to Shareholders, Transparency, and Governance that Embraces Diverse Values Are Needed