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.

To Improve the Quality of Listed Companies, Every Effort to Promote Going Private Is Necessary

Example Supporting that Disclosure of Improvement Plans and Their Effectiveness Are Separate Matters

The Main Battlefield for Dissolution of Parent-Subsidiary Listings Will Shift to Standard Market

Nevertheless, Concern Remain that TSE Growth Market Might Include Companies that Don't Pursue Growth

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>Many companies failing to meet listing maintenance standards will transition to Standard Market. Given the inherent risk of moral hazard, strengthening the discipline of listed companies is a critical point.</li>
<li>Companies that have migrated to or remained in the Standard Market for various reasons harbor moral hazard stemming not from diversity, but rather from gathering in pursuit of lax standards.</li>
<li>If more companies view TSE's increased disclosure requirements as a cost of listing and consider going private, that's positive development. Hopefully, this will lead to progress in resolving “parent-subsidiary listings.”</li>
</ul>


Many companies failing to meet listing maintenance standards will transition to Standard Market. Given the inherent risk of moral hazard, strengthening the discipline of listed companies is a critical point.
Companies that have migrated to or remained in the Standard Market for various reasons harbor moral hazard stemming not from diversity, but rather from gathering in pursuit of lax standards.
If more companies view TSE's increased disclosure requirements as a cost of listing and consider going private, that's positive development. Hopefully, this will lead to progress in resolving “parent-subsidiary listings.”


Raising the Standard of Discipline Among Companies Listed on the Standard Market Is Crucial

TSE Tokyo Price Index TOPIX

Raising the Standard of Discipline Among Companies Listed on the Standard Market Is Crucial