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.

Company with US Type of 3 Committees and Independent Director Chairing BOD Is the Litmus Test

Overseas Investor Engagement Plays a Significant Role in Substantive Governance Enhancements

Managers Should Consider That "TSE's Request" Has Changed the Rules of the Game

Is the Challenge of Raising the Stock Price Valuations Ultimately the Quality of Management?

Shouldn't Shareholders Raise Voice for a Company that Is Building up Cash While Its ROE Is Sluggish?

What Should a Japanese Company Do to Raise Profit Margin, a Prerequisite for Higher ROE?

Expecting Fewer Refusals to Disclose Management Issues and More Positive Discussions with Management

Change in Attitude of Domestic Institutional Investors Is Key to Approval of Shareholder Proposal

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>ROE has not risen at the pace expected, but dividends have begun to increase, and in FY2021 DOE rose to the 3% range for the first time.</li>
<li>While ROE alone will not surpass the record high of FY2017, ROE plus DOE (ROE+DOE) is expected to slightly surpass the record high of FY2017 in FY2022.</li>
<li>Even in FY2021, when DOE increased, Equity Ratio increased (and total assets also increased), so there is still room to increase shareholder returns, given that cash on hand increased.</li>
</ul>


ROE has not risen at the pace expected, but dividends have begun to increase, and in FY2021 DOE rose to the 3% range for the first time.
While ROE alone will not surpass the record high of FY2017, ROE plus DOE (ROE+DOE) is expected to slightly surpass the record high of FY2017 in FY2022.
Even in FY2021, when DOE increased, Equity Ratio increased (and total assets also increased), so there is still room to increase shareholder returns, given that cash on hand increased.


ROE up Modestly, but ROE Plus DOE Is Expected to Reach a Record High This Fiscal Year

TSE Tokyo Price Index TOPIX

ROE up Modestly, but ROE Plus DOE Is Expected to Reach a Record High This Fiscal Year