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.

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Setting Goals Is Key to Achieving Corporate Governance Reform, Rather than the Means to Achieve Them

Isn't the Market Impatient for the Companies to Implement Management Reforms?

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>Following the 2020 revision of Stewardship Code, domestic institutional investors have gradually increased their support for shareholder proposals. However, the rise in approval rates has paused in the 10% range.</li>
<li>Some investors adopt voting policy that allows them to support company proposals if the company's efforts are deemed commendable, even if numerical targets aren't met. This makes shareholder engagement important.</li>
<li>Given that conditions must align where a company has substantial foreign ownership and doesn't implement initiatives desired by investors, the approval rate for shareholder proposals is unlikely to rise significantly.</li>
</ul>


Following the 2020 revision of Stewardship Code, domestic institutional investors have gradually increased their support for shareholder proposals. However, the rise in approval rates has paused in the 10% range.
Some investors adopt voting policy that allows them to support company proposals if the company's efforts are deemed commendable, even if numerical targets aren't met. This makes shareholder engagement important.
Given that conditions must align where a company has substantial foreign ownership and doesn't implement initiatives desired by investors, the approval rate for shareholder proposals is unlikely to rise significantly.


For Both the Company and Investors, Pre-Negotiation Process as SR Is Becoming Increasingly Important

TSE Tokyo Price Index TOPIX

For Both the Company and Investors, Pre-Negotiation Process as SR Is Becoming Increasingly Important