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.

ETF Sale Won't Be Concluded Soon, but as Long as BOJ Keeps Holding Them, the Problems Will Persist

Is Slower Management Decision Making of Japanese Companies Relate to Slower Growth of Market Cap?

Big Gap Between Companies that “don't Have a Gap in Investors' Viewpoints” and Those that Don't

If Profits Cannot Grow, Tokyo Market Will Be Full of PE and Activist Investors

Going Private Is Not an “exit” from the Market, but the Beginning of the Next Step

What Is A "Growth Market" Where Many Companies Do Not Grow in Market Cap or Raise Capital?

Raising Requirements for Shareholder Proposals Could Hinder the Shift to Value-Creating Management

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>TSE is likely to raise the current Growth Market listing criteria of at least 500 million yen in tradable equity market capitalization, probably starting in April 2026.</li>
<li>Since listing examinations are already being conducted with the new criteria in mind, IPO reserves are being prepared with a larger market capitalization than before.</li>
<li>It is unclear how much will be raised, but companies will prepare for listing by increasing its market capitalization through the use of the secondary market and M&amp;A.</li>
</ul>


TSE is likely to raise the current Growth Market listing criteria of at least 500 million yen in tradable equity market capitalization, probably starting in April 2026.
Since listing examinations are already being conducted with the new criteria in mind, IPO reserves are being prepared with a larger market capitalization than before.
It is unclear how much will be raised, but companies will prepare for listing by increasing its market capitalization through the use of the secondary market and M&amp;A.


Listing Criteria for the TSE Growth Market Is Expected to Be Raised Starting April 2026

TSE Tokyo Price Index TOPIX

Listing Criteria for the TSE Growth Market Is Expected to Be Raised Starting April 2026