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.

Japan's Governance: Major Shareholder Factor

Japan's Governance: Raising Capital and Cost of Capital Awareness

Japan's Governance: Tokyo Stock Exchange Reorganization and the Future of Corporate Governance

Japan's Governance: Parent-Subsidiary Listing and Investment Strategy

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<p>In my previous article, "Tokyo Stock Exchange Reorganization and the Future of Governance," I mentioned that the TSE's market reorganization is expected to have a certain impact on the progress of governance in Japan. On April 4, 2022, the TSE will be reorganized into the "Prime Market", "Standard Market" and "Growth Market" from the previous market segmentation of the 1st Section and three other markets. The Corporate Governance Code is expected to be revised in line with this change, and the draft of the revised Corporate Governance Code was released on April 6, 2021. The proposed revision of the Corporate Governance Code includes a requirement that listed companies in the "Prime Market" have at least 1/3 of all independent outside directors (at least 2 independent outside directors before the revision) as part of their governance structure. The final revision will be made by the Tokyo Stock Exchange, and the revised Corporate Governance Code will be announced by December 2021. Companies wishing to list their shares on the Prime Market are expected to be required to submit a corporate governance report describing matters related to the above-mentioned rules for companies listed on the Prime Market promptly after the general meeting of shareholders of each company to be held after April 2022. I would like to think about this issue.</p>

In my previous article, "Tokyo Stock Exchange Reorganization and the Future of Governance," I mentioned that the TSE's market reorganization is expected to have a certain impact on the progress of governance in Japan. On April 4, 2022, the TSE will be reorganized into the "Prime Market", "Standard Market" and "Growth Market" from the previous market segmentation of the 1st Section and three other markets. The Corporate Governance Code is expected to be revised in line with this change, and the draft of the revised Corporate Governance Code was released on April 6, 2021. The proposed revision of the Corporate Governance Code includes a requirement that listed companies in the "Prime Market" have at least 1/3 of all independent outside directors (at least 2 independent outside directors before the revision) as part of their governance structure. The final revision will be made by the Tokyo Stock Exchange, and the revised Corporate Governance Code will be announced by December 2021. Companies wishing to list their shares on the Prime Market are expected to be required to submit a corporate governance report describing matters related to the above-mentioned rules for companies listed on the Prime Market promptly after the general meeting of shareholders of each company to be held after April 2022. I would like to think about this issue.

Japan's Governance: Revision of Corporate Governance Code and Ratio of Independent Outside Directors

TSE Tokyo Price Index TOPIX

Japan's Governance: Revision of Corporate Governance Code and Ratio of Independent Outside Directors