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.

Pre AGM Annual Securities Report Disclosure as a Clue to a True Dialogue with Investors

Success Experiences Will Be Necessary for IR to Function

The Reality of the Concentration of AGM Dates Has Not Changed

The Hurdles to Achieving Early Submission of Annual Securities Reports Before AGM Dates Are High

Pre-AGM Filling of Annual Securities Reports Is Plus, but May Take Long Before More Companies Do So

The Key Is to Solve the Root Problem of Women Leaving Their Jobs Due to the Bias of Family Work

Effort Goals Are Cozy for Both the Government and the Company

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>Even if annual securities reports are filed earlier, a few days before the AGM, there is not enough time for institutional investors to use them for proxy voting.</li>
<li>Many companies believe that they could control the AGM by two things: diversifying shareholder attention by holding the AGM on the same day and not providing sufficient information to shareholders.</li>
<li>In its next request, FSA plans to encourage companies to move AGM to later date by changing “record date.” However, it’ll take time to come to a compromise with companies.</li>
</ul>


Even if annual securities reports are filed earlier, a few days before the AGM, there is not enough time for institutional investors to use them for proxy voting.
Many companies believe that they could control the AGM by two things: diversifying shareholder attention by holding the AGM on the same day and not providing sufficient information to shareholders.
In its next request, FSA plans to encourage companies to move AGM to later date by changing “record date.” However, it’ll take time to come to a compromise with companies.


Substantial “pre AGM Filing of Annual Securities Reports” Will Be After 2027

TSE Tokyo Price Index TOPIX

Substantial “pre AGM Filing of Annual Securities Reports” Will Be After 2027