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.

Next Corporate Governance Code Revision May Further Dissolve Parent-Subsidiary Listings

Independence of BOD Is Necessary, but Can Independence of Subordinate Companies Really Be Ensured?

2 Rakuten Subsidiaries' Listings Run Counter to the Dissolution of Parent-Subsidiary Listings

Japan's Governance: Parent-Subsidiary Listing and Review of ENEOS Holdings Subsidiary Strategy

The Problem Isn’t for the Subsidiary Shareholders but for the Parent Company Shareholders

Dissolution of Parent-Subsidiary Listing Is Just the Beginning for a Slow Decision-Making Company

Conflicts of Interest Prevent TSE from Resolving Prime Market Listing Criteria Issues

Little Discussion of Listing Criteria Appropriate for Prime Market Listed Companies

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>While this was a major step forward, it did not adequately explain how Fujitsu would invest the cash from the sale of these non-core businesses in its core businesses.</li>
<li>The investment strategy of buying listed subsidiaries with parent-subsidiary listings was shown to be reasonable. The exit risk may be lower when the parent makes the subsidiary a wholly-owned subsidiary.</li>
<li>If valuations are enhanced by expectations of increased corporate value through reviews of the parent's business portfolio, the dissolution of the parent-subsidiary listing is a powerful way to enhance valuations.</li>
</ul>


While this was a major step forward, it did not adequately explain how Fujitsu would invest the cash from the sale of these non-core businesses in its core businesses.
The investment strategy of buying listed subsidiaries with parent-subsidiary listings was shown to be reasonable. The exit risk may be lower when the parent makes the subsidiary a wholly-owned subsidiary.
If valuations are enhanced by expectations of increased corporate value through reviews of the parent's business portfolio, the dissolution of the parent-subsidiary listing is a powerful way to enhance valuations.


Dissolving the Parent-Subsidiary Listing Is a Powerful Way to Increase Valuations?

TSE Tokyo Price Index TOPIX

Dissolving the Parent-Subsidiary Listing Is a Powerful Way to Increase Valuations?