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.

Interesting that the Buy Parent Company + Sell Subsidiary Trade Does Not Work

Ownership of Company Stock Is a Key in Managing the Company with the Same Goals as Shareholders

Investors Expect a Feasible Management Strategy Rather than an Accurate Cost of Capital

Although It Is Commendable that Voting Behavior of Some Domestic Institutional Investors Has Changed

The Key Is to Be Able to Use Cash on Hand Effectively in the Future

Capital Efficiency Is the Topic of the June AGM, While What Is Happening to Passive Fund Voting?

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>The percentage of stockholdings by individuals will continue rising. Their tendency to buy-on-decline will continue to serve as a cushion in times of falling stocks as well as voting behavior.</li>
<li>Now that the BOJ's ETF purchases have subsided, an increase in trust bank stock holdings is not expected. A limited increase in pension assets is also expected.</li>
<li>The reduction in cross-shareholdings has reduced the shareholding ratio of corporations to 19.6%. Meanwhile, corporations repurchased total of 5,790.7 billion yen in FY2022, indicating that share repurchases have taken root.</li>
</ul>


The percentage of stockholdings by individuals will continue rising. Their tendency to buy-on-decline will continue to serve as a cushion in times of falling stocks as well as voting behavior.
Now that the BOJ's ETF purchases have subsided, an increase in trust bank stock holdings is not expected. A limited increase in pension assets is also expected.
The reduction in cross-shareholdings has reduced the shareholding ratio of corporations to 19.6%. Meanwhile, corporations repurchased total of 5,790.7 billion yen in FY2022, indicating that share repurchases have taken root.


Increasing Attention to the Role Played by Individuals in the Rising Trend of Stock Ownership

TSE Tokyo Price Index TOPIX

Increasing Attention to the Role Played by Individuals in the Rising Trend of Stock Ownership