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.

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Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>Corporate governance overall scores have stagnated at a slight improvement over the past year, as in the previous year. Without mandatory requirements, few companies voluntarily pursue improvements.</li>
<li>ROA has risen slightly, but ROE remains flat. This may indicate that few companies have yet shifted to management practices that prioritize balance sheets and cash flow.</li>
<li>While stock valuations are gradually improving, the pace of this improvement across all companies still appears to fall short of investor expectations, much like the pace of companies' own initiatives.</li>
</ul>


Corporate governance overall scores have stagnated at a slight improvement over the past year, as in the previous year. Without mandatory requirements, few companies voluntarily pursue improvements.
ROA has risen slightly, but ROE remains flat. This may indicate that few companies have yet shifted to management practices that prioritize balance sheets and cash flow.
While stock valuations are gradually improving, the pace of this improvement across all companies still appears to fall short of investor expectations, much like the pace of companies' own initiatives.


Slight Gain in Governance, ROE and Valuations in 2025 Suggest that Reforms Have yet to Spread Widely

TSE Tokyo Price Index TOPIX

Slight Gain in Governance, ROE and Valuations in 2025 Suggest that Reforms Have yet to Spread Widely