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: Prime Market Listing Criteria and Use of E-Voting Platform/Disclosure in English

Japan's Governance: Revised Corporate Governance Code: Ensuring Diversity in Core Human Resources

Japan's Governance: TSE Prime Market Listing Standards and Establishment of Nom. And Comp. Committee

Japan's Governance: Retirement of Treasury Stock and Performance, Corporate Governance

Japan's Governance: Dividend Policy and Performance, Corporate Governance

Japan's Governance: Equity Issuance and Performance, Corporate Governance

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>The revised CG Code requires companies in prime market to have at least 1/3 independent directors. 58% of listed companies have at least 1/3 independent directors and 6% have majority.</li>
<li>Companies with % independent directors of over 50% have the best performance and CG practices, while those with % above 33.33% but below 50% have the lowest Tobin's q.</li>
<li>In fact, companies with % independent directors between 33.33% and 50% constitute the majority of the prime market, so the fact that their stock prices are not valued is serious.</li>
</ul>


The revised CG Code requires companies in prime market to have at least 1/3 independent directors. 58% of listed companies have at least 1/3 independent directors and 6% have majority.
Companies with % independent directors of over 50% have the best performance and CG practices, while those with % above 33.33% but below 50% have the lowest Tobin's q.
In fact, companies with % independent directors between 33.33% and 50% constitute the majority of the prime market, so the fact that their stock prices are not valued is serious.


Japan's Governance: TSE Prime Market Listing Standards and % of Independent Directors

TSE Tokyo Price Index TOPIX

Japan's Governance: TSE Prime Market Listing Standards and % of Independent Directors