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 Bond Investors and Stock Investors Are Focused on Future Cash Flows that a Company Will Produce

Ultimately, It Is the Power of Voting that Can Reform Management

Companies Unable to Escape the Curse of the Unfortunate History of Misunderstanding “Cost of Equity”

Rather than “Technical Guidance,” What Is Needed Is Thorough Fiduciary Duty to Shareholders

What Is More Important in Promoting "Effective Investor Relations"?

The Data Also Shows that Companies with Low Stock Valuations Are Increasingly Using Share Buybacks

An Option for Implementing Serious Corporate Governance Reforms to Achieve Results Are...

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

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>As lack of investment, including in human capital, is recognized as a factor behind the lack of growth, there're plans to enhance disclosure of human capital in annual securities reports.</li>
<li>While labor share of large companies has fallen 1.3 ppt over the past year, OP margins increased only 0.3 ppt. It's necessary to produce products with high gross profit margins.</li>
<li>Unable to make bold investments to create higher added-value products, companies instead use cash-flows for shareholders return without increasing cash reserves, resulting in high level of cash on hand.</li>
</ul>


As lack of investment, including in human capital, is recognized as a factor behind the lack of growth, there're plans to enhance disclosure of human capital in annual securities reports.
While labor share of large companies has fallen 1.3 ppt over the past year, OP margins increased only 0.3 ppt. It's necessary to produce products with high gross profit margins.
Unable to make bold investments to create higher added-value products, companies instead use cash-flows for shareholders return without increasing cash reserves, resulting in high level of cash on hand.


How Long Can a Model Where Profit Is Helped by Low Growth in Labor Cost and Depreciation Continue?

TSE Tokyo Price Index TOPIX

How Long Can a Model Where Profit Is Helped by Low Growth in Labor Cost and Depreciation Continue?