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.

As for the Amount Eligible for Profit Distribution Under the Rules, That’s One Thing...

Focus on How Practices Improve for Value Creation, Not Whether Improved Practices Helps Create Value

Does the “curse” of Secured Loans Still Influence the Mindset of Managers Today?

How Long Will This Phase of Increasing the Effectiveness of Shareholder Return Policies Continue?

How Many Substantial Measures—not Piecemeal Shareholder Returns—will Be Unveiled in 2026?

Are Investors Prepared for the Upcoming Formalization of Corporate Governance Practices?

There Is Concern that Meeting Formal Criteria Is Being Prioritized Here as Well

While Companies Buy Time Before Executing Fundamental Measures, Shareholder Proposals Keep Rising

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>Listed companies have accumulated a great deal of cash over the years, so they are more than capable of balancing growth investments with shareholder returns.</li>
<li>Since Net Profit Margin remains slower than Operating Profit Margin, this may be a sign that companies will book extraordinary losses and embark on business restructuring leading to future profits.</li>
<li>Asset turnover has not improved. Not only have shareholder returns increased only in proportion to the rise in cash flow, but the cross-shareholding program is still in its early stages.</li>
</ul>


Listed companies have accumulated a great deal of cash over the years, so they are more than capable of balancing growth investments with shareholder returns.
Since Net Profit Margin remains slower than Operating Profit Margin, this may be a sign that companies will book extraordinary losses and embark on business restructuring leading to future profits.
Asset turnover has not improved. Not only have shareholder returns increased only in proportion to the rise in cash flow, but the cross-shareholding program is still in its early stages.


Both the Reduction in Cash on Hand and the Reduction in Policy-Held Shares Are Still Underway

TSE Tokyo Price Index TOPIX

Both the Reduction in Cash on Hand and the Reduction in Policy-Held Shares Are Still Underway