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.

Won’t the “Market Reform” of TSE Growth Market End up Merely Creating a “10-Billion-Yen Club”?

The Challenge Lies in Reviving a Company that Hasn't Grown, but Future IPO Prospects Are Anticipated

The Way to Invigorate the Growth Market Is to Raise the Listing Standards for the Prime Market

The Days when Simply IPOs in Growth Market Were Opportunities to Exit and Secure Profits Are Over

Standard Markets Would Attract More Attention from Investors Without Trading Liquidity Issues

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>The problem with Growth Market isn't only that IPO became the goal, but also that this market environment felt comfortable for all stakeholders—founders, venture capitals, TSE, auditors, and individual investors.</li>
<li>TSE Growth Market has historically served as a stepping stone for companies, and many successful companies have subsequently moved to higher-tier markets. Market reforms should be considered on this premise.</li>
<li>Raising the listing criteria for Prime Market (traded shares market capitalization of over 10 billion yen) is likely to be a solution for both TSE Growth Market and Prime Market.</li>
</ul>


The problem with Growth Market isn't only that IPO became the goal, but also that this market environment felt comfortable for all stakeholders—founders, venture capitals, TSE, auditors, and individual investors.
TSE Growth Market has historically served as a stepping stone for companies, and many successful companies have subsequently moved to higher-tier markets. Market reforms should be considered on this premise.
Raising the listing criteria for Prime Market (traded shares market capitalization of over 10 billion yen) is likely to be a solution for both TSE Growth Market and Prime Market.


Can the Tokyo Stock Exchange's “Growth Market Reform” Really Bring About Change?

TSE Tokyo Price Index TOPIX

Can the Tokyo Stock Exchange's “Growth Market Reform” Really Bring About Change?