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.

Background of the Increase in MBOs: Different from the Assumptions at the Time of the IPO

The Main Battlefield for Dissolution of Parent-Subsidiary Listings Will Shift to Standard Market

How Long Will the ‘Parent-Subsidiary Listing Prolongation Scheme’ Work?

The Postponement of the Parent-Subsidiary Listing Issue Provides Further Investment Opportunities

How Effective Will the Changes in Listing Criteria Be, Amid a Long Grace Period and Secured Listing?

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>In response to calls from overseas investors to eliminate parent-subsidiary dual listings, the number of listed subsidiaries has decreased, while the number of equity-method affiliates has increased.</li>
<li>Some companies that found themselves with no wayout resorted to selling off part of their holdings to transition to equity method affiliates, for the time being, driven by herd mentality.</li>
<li>When considering investment strategies focused on parent-subsidiary listings, in the highly liquid Prime Market, equity method affiliates are more promising investment targets than the limited number of listed subsidiaries.</li>
</ul>


In response to calls from overseas investors to eliminate parent-subsidiary dual listings, the number of listed subsidiaries has decreased, while the number of equity-method affiliates has increased.
Some companies that found themselves with no wayout resorted to selling off part of their holdings to transition to equity method affiliates, for the time being, driven by herd mentality.
When considering investment strategies focused on parent-subsidiary listings, in the highly liquid Prime Market, equity method affiliates are more promising investment targets than the limited number of listed subsidiaries.


Combining Equity Method Affiliates and Founder Family Companies Provide Sufficient Number of Targets

TSE Tokyo Price Index TOPIX

Combining Equity Method Affiliates and Founder Family Companies Provide Sufficient Number of Targets