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.

Both Statutory Nomination Committee and BODs Chaired by Outside Directors Are in the 2% Range

The Stage of Maintaining Appearance by Ensuring Attendance of Independent Directors Has Ended

Companies Formalized Independence of Voluntary Nomination Committees, but No Signs of Improvements

Substantial “pre AGM Filing of Annual Securities Reports” Will Be After 2027

A Dialogue with a Skilled Outside Director Will Create Value. This Premise Is Important

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

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>The fact that 59.2% of companies have March fiscal year-end and concentrate AGMs in the last week of June, preventing shareholders from attending AGMs, is a fundamental corporate governance issue.</li>
<li>Companies with foreign shareholdings of over 30% represent 17.4% of prime market. Most companies continue to run without a sense of urgency and without much influence from overseas investors.</li>
<li>While the number of listed subsidiaries has decreased over the past decade, the number of equity method affiliates has increased significantly. The business portfolio has not yet been fundamentally restructured.</li>
</ul>


The fact that 59.2% of companies have March fiscal year-end and concentrate AGMs in the last week of June, preventing shareholders from attending AGMs, is a fundamental corporate governance issue.
Companies with foreign shareholdings of over 30% represent 17.4% of prime market. Most companies continue to run without a sense of urgency and without much influence from overseas investors.
While the number of listed subsidiaries has decreased over the past decade, the number of equity method affiliates has increased significantly. The business portfolio has not yet been fundamentally restructured.


Governance Issues Have Not Been Resolved as Far as Profiles of TSE-Listed Companies Shows

TSE Tokyo Price Index TOPIX

Governance Issues Have Not Been Resolved as Far as Profiles of TSE-Listed Companies Shows