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.

The Effectiveness of BOD Is the Most Critical Factor in Implementing Initiatives that Create Value

Since This Revision Solely Seeks Substantive Enhancement, Achieving Effectiveness Will Be Difficult

Although It'll Take Time, There's No Need to Be Pessimistic if Management Reform Is Finally Underway

Investment Opportunities in the Standard Market that Involve TOBs and MBOs Continue to Increase

We Can’t Expect Companies that Can't Disclose Cash Allocation This Year to Do so Starting Next Year

Why Go to the Trouble of Switching to Another Market Just to Stick with Listed Companies?

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>TSE has reached the stage where KPIs are no longer based on whether information has been disclosed, but whether management has demonstrated a focus on "capital costs and stock prices."</li>
<li>Compared to the improvement in P/B, progress in raising ROE has been limited. The improvement in P/B was largely driven by factors other than improved capital profitability.</li>
<li>Since Standard Market-listed companies, where trading liquidity is low, have few opportunities for engagement with overseas investors, improvements depend largely on the companies’ initiative and willingness to take proactive steps.</li>
</ul>


TSE has reached the stage where KPIs are no longer based on whether information has been disclosed, but whether management has demonstrated a focus on "capital costs and stock prices."
Compared to the improvement in P/B, progress in raising ROE has been limited. The improvement in P/B was largely driven by factors other than improved capital profitability.
Since Standard Market-listed companies, where trading liquidity is low, have few opportunities for engagement with overseas investors, improvements depend largely on the companies’ initiative and willingness to take proactive steps.


Is Lagging Among Standard Market Companies Due to Lack of Disclosure or Investor Engagement?

TSE Tokyo Price Index TOPIX

Is Lagging Among Standard Market Companies Due to Lack of Disclosure or Investor Engagement?