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.

What the Tokyo Market Needs Is a Metabolism and Replacement with Motivated Managers

A Reluctance to Confront Shareholders Is at the Root of Many Problems

Declining Number of Shares Has Just Begun, but Valuations Need to Rise for Market Cap to Grow

The Only Way to Know if a Company Are Improving in Real Terms Is if It Is Creating Value

Listing Criteria for the TSE Growth Market Is Expected to Be Raised Starting April 2026

Now Is the Time to Turn the Slowdown in Profit Growth into an Opportunity

What It Takes to Bring Back Overseas Investors once They Have Left ....

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>TSE seems reluctant to raise the market capitalization criteria for listing on Growth Market, but wants to encourage management to grow after IPO by raising the criteria for maintaining listing.</li>
<li>The reason why companies don't grow after IPO is that IPOs are often conducted for tax savings for founders and for other reasons without any intention to grow.</li>
<li>It is questionable whether the new listing maintenance criteria will help these companies grow and whether the verbal intervention in the listing review process will be successful.</li>
</ul>


TSE seems reluctant to raise the market capitalization criteria for listing on Growth Market, but wants to encourage management to grow after IPO by raising the criteria for maintaining listing.
The reason why companies don't grow after IPO is that IPOs are often conducted for tax savings for founders and for other reasons without any intention to grow.
It is questionable whether the new listing maintenance criteria will help these companies grow and whether the verbal intervention in the listing review process will be successful.


Can Growth Market Reform Succeed in a Structure of Interdependence of IPO Ecosystem Stakeholders?

TSE Tokyo Price Index TOPIX

Can Growth Market Reform Succeed in a Structure of Interdependence of IPO Ecosystem Stakeholders?