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.

Instilling Expectations Was Positive, but Interest Quickly Shifting from Seriousness to Performance

"TSE's Request” Catalyzes and Attracts Activist Investors to Invest

The Key to Japanese Equity Outperformance Is a Step Beyond Shareholder Returns

Companies May Worked on Raising OP Margin in Minor Ways Without Working on Raising Gross Margins

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>While the absolute amount of share repurchases has increased, many companies face challenges in using cash, given the slow growth in ROE and depth of equity capital over a decade.</li>
<li>While growth investment should increase corporate value, it's important for managers to manage to earn returns commensurate with investment risk, and to return cash to shareholders without taking unnecessary risks.</li>
<li>The question is not whether investment in growth or shareholder return is better, but whether the company was managing its business in a shareholder-friendly manner.</li>
</ul>


While the absolute amount of share repurchases has increased, many companies face challenges in using cash, given the slow growth in ROE and depth of equity capital over a decade.
While growth investment should increase corporate value, it's important for managers to manage to earn returns commensurate with investment risk, and to return cash to shareholders without taking unnecessary risks.
The question is not whether investment in growth or shareholder return is better, but whether the company was managing its business in a shareholder-friendly manner.


It Is Not a Question of Whether Investment in Growth or Shareholder Return Is Better

TSE Tokyo Price Index TOPIX

It Is Not a Question of Whether Investment in Growth or Shareholder Return Is Better