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 Stage of Maintaining Appearance by Ensuring Attendance of Independent Directors Has Ended

Disclosure of Individual Board Directors' Remuneration Has Not Progressed

It's Not Who The Directors Come From, but Their Skills and Ability to Fulfill Their Fiduciary Duties

Companies Formalized Independence of Voluntary Nomination Committees, but No Signs of Improvements

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>As global companies changing to increase the proportion of variable compensation from the perspective of securing human resources, the proportion of fixed compensation is gradually declining, but still high. </li>
<li>Since only executives who receive compensation of 100 million yen or more are required to be disclosed in annual securities reports, few companies disclose the compensation of all directors individually. </li>
<li>In addition to the inability to verify whether the remuneration paid was appropriate,　investors have doubts about the independence of the process by which the Remuneration Committee determines executive remuneration.</li>
</ul>


As global companies changing to increase the proportion of variable compensation from the perspective of securing human resources, the proportion of fixed compensation is gradually declining, but still high. 
Since only executives who receive compensation of 100 million yen or more are required to be disclosed in annual securities reports, few companies disclose the compensation of all directors individually. 
In addition to the inability to verify whether the remuneration paid was appropriate,　investors have doubts about the independence of the process by which the Remuneration Committee determines executive remuneration.


The Ratio of Fixed Compensation in Executive Compensation Has Gradually Declined, but Remains High

TSE Tokyo Price Index TOPIX

The Ratio of Fixed Compensation in Executive Compensation Has Gradually Declined, but Remains High