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.

The Days when Simply IPOs in Growth Market Were Opportunities to Exit and Secure Profits Are Over

Can the Tokyo Stock Exchange's “Growth Market Reform” Really Bring About Change?

Won’t the “Market Reform” of TSE Growth Market End up Merely Creating a “10-Billion-Yen Club”?

Approaches Aimed at Resolving “parent-Subsidiary Listings” in the Broad Sense Remain Effective

Tracing the Root Causes of Multiple Gaps Between Managers and Investors Leads to a Single Issue

What Kind of Companies Raised Their Stock Valuations After TSE's Request?

Why Has Capital Profitability Improvement Stalled Despite Progress in Reducing Cross-Holdings?

Since This Revision Solely Seeks Substantive Enhancement, Achieving Effectiveness Will Be Difficult

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>Even among TSE Standard Market companies, there are those with high capital profitability. As institutional investors become aware of them, these companies become investment targets and their market capitalization grows.</li>
<li>Given that companies unable to meet the listing maintenance criteria for Prime and Growth Market are moving to Standard Market, ensuring the quality of Standard Market remains a challenge.</li>
<li>Improvements in the quality of Standard Market are likely to be achieved more through delisting than through disclosure requirements. Cases requesting the dissolution of parent-subsidiary listings and MBOs will increase.</li>
</ul>


Even among TSE Standard Market companies, there are those with high capital profitability. As institutional investors become aware of them, these companies become investment targets and their market capitalization grows.
Given that companies unable to meet the listing maintenance criteria for Prime and Growth Market are moving to Standard Market, ensuring the quality of Standard Market remains a challenge.
Improvements in the quality of Standard Market are likely to be achieved more through delisting than through disclosure requirements. Cases requesting the dissolution of parent-subsidiary listings and MBOs will increase.


Standard Markets Would Attract More Attention from Investors Without Trading Liquidity Issues

TSE Tokyo Price Index TOPIX

Standard Markets Would Attract More Attention from Investors Without Trading Liquidity Issues