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.

FSA Roadmap Is Realistic, but Progress on Scope 3 Disclosures Will Follow the Revision of Guidelines

Japan Market Attractive for PE Investment Despite Low Profit Growth

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

There Are Still Very Many Companies with High Cash on Hand Relative to Sales

Concurrent Directorship Issue Calls into Question Effectiveness of Nominating Committee

Nominating Committee Is Becoming More Active in a Few Companies, but No Sign yet of Spreading to All

Companies Have Begun to Be Aware of Cash Flow, but the Reality Is that It Doesn't Produce Results

Shareholder Activism Plays a Significant Role in Companies that Are Slow to Change

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>Comparing the disclosure time of 2Q financial statements to a year ago, the extension of trading hours has had an impact on the disclosure time of companies.</li>
<li>After November 5, when trading hours were extended, 31.6% of companies disclosed by 3:29 p.m. The remaining 68.4% moved down their disclosure time.</li>
<li>The 2Q results didn't include companies that were proactive about early disclosure, and it is expected that some of the more cautious companies will switch to disclosure during trading hours.</li>
</ul>


Comparing the disclosure time of 2Q financial statements to a year ago, the extension of trading hours has had an impact on the disclosure time of companies.
After November 5, when trading hours were extended, 31.6% of companies disclosed by 3:29 p.m. The remaining 68.4% moved down their disclosure time.
The 2Q results didn't include companies that were proactive about early disclosure, and it is expected that some of the more cautious companies will switch to disclosure during trading hours.


Financial Disclosures During Trading Hours Was Disappointing in 2Q, but Will Increase Gradually

TSE Tokyo Price Index TOPIX

Financial Disclosures During Trading Hours Was Disappointing in 2Q, but Will Increase Gradually