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.

Going Private Is Not an “exit” from the Market, but the Beginning of the Next Step

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

ETF Sale Won't Be Concluded Soon, but as Long as BOJ Keeps Holding Them, the Problems Will Persist

Growth Policy Score Improved with the Request to Raise P/B, but Other Criteria Are in the Process

Improvements Have Expired in Criteria Related to the 2019 Corporate Governance Code Revision

Can TSE's “Examples of Bad Disclosures” Help Companies Shift to Shareholder-Oriented Management?

Reducing Cross-Held Shares Is Precisely What Is Needed to Promote Management Change

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>The improvement in ROA was not as large as that of ROE, which raises concerns that the improvement in profitability may be running out of steam.</li>
<li>Improvements in corporate governance in 2024 were even lower than in 2023. The repetitive loss of enthusiasm after danger past is seen in % Independent Directors, Nomination/Compensation Committee, etc.</li>
<li>The reason why stock valuations little increased despite Foreign Ownership's 2024 increase might have to do with the fact that improvements in corporate governance have not spread to all companies.</li>
</ul>


The improvement in ROA was not as large as that of ROE, which raises concerns that the improvement in profitability may be running out of steam.
Improvements in corporate governance in 2024 were even lower than in 2023. The repetitive loss of enthusiasm after danger past is seen in % Independent Directors, Nomination/Compensation Committee, etc.
The reason why stock valuations little increased despite Foreign Ownership's 2024 increase might have to do with the fact that improvements in corporate governance have not spread to all companies.


"Danger Past, God Forgotten" How Long Will the Effect of TSE's Request Last?

TSE Tokyo Price Index TOPIX

"Danger Past, God Forgotten" How Long Will the Effect of TSE's Request Last?