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.

Few Shareholder Proposals Have Passed, but the Chances of Them Passing Are Gradually Increasing

Isn't the Debate over the Amendment to the Companies Act Failing to Learn from past Mistakes?

What Are the Reasons Japanese Companies Cannot Overcome the Drawbacks of Traditional Management?

Foreign Investors' Net Buy in 2025 May Lead to Companies Showing Management Changes Emerging in 2026

Focus on How Practices Improve for Value Creation, Not Whether Improved Practices Helps Create Value

Although It'll Take Time, There's No Need to Be Pessimistic if Management Reform Is Finally Underway

As for the Amount Eligible for Profit Distribution Under the Rules, That’s One Thing...

Avoid Letting Companies Fall into Formalism by Aligning Evaluation with Investors' Perspectives

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>Although the number of individual shareholders has increased—partly due to a rising number of companies implementing stock splits—the proportion of shares held by individuals has hardly risen at all.</li>
<li>While the ownership of other investor groups have remained flat, that of foreign corporations has continued rising. Listed companies are increasingly forced to pay close attention to overseas investors' shareholdings.</li>
<li>While the shareholding ratio of corporations has been steadily declining, share buybacks have increased. This suggests that the unwinding of cross-shareholdings between corporations and financial institutions is likely to continue.</li>
</ul>


Although the number of individual shareholders has increased—partly due to a rising number of companies implementing stock splits—the proportion of shares held by individuals has hardly risen at all.
While the ownership of other investor groups have remained flat, that of foreign corporations has continued rising. Listed companies are increasingly forced to pay close attention to overseas investors' shareholdings.
While the shareholding ratio of corporations has been steadily declining, share buybacks have increased. This suggests that the unwinding of cross-shareholdings between corporations and financial institutions is likely to continue.


Shareholding Ratio of Foreigners Stood at 34.7%, Hitting Record High for the 3rd Consecutive Year

TSE Tokyo Price Index TOPIX

Shareholding Ratio of Foreigners Stood at 34.7%, Hitting Record High for the 3rd Consecutive Year