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.

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”?

The Issues of IPOs and TSE Growth Market Reforms Should Be Considered Separately

The Challenge Lies in Reviving a Company that Hasn't Grown, but Future IPO Prospects Are Anticipated

Expectations Are High for TSE's Disclosure Request, but Performance Is What Matters Most

Currently Situation Companies Are Matching Numbers Without Fully Grasping the Fundamentals

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>There is no point in companies that meet or exceed the Prime Market listing criteria (market capitalization of 10 billion yen) choosing the Growth Market.</li>
<li>If fewer small market capitalizations IPOs list, retail investors will lose interest in Growth Market, and few institutional investors will invest in small capitalization stocks with below 10 billion yen.</li>
<li>If the listing criteria for Prime Market are raised, high growth companies will remain on Growth Market until they reach that scale, allowing both individual and institutional investors to invest.</li>
</ul>


There is no point in companies that meet or exceed the Prime Market listing criteria (market capitalization of 10 billion yen) choosing the Growth Market.
If fewer small market capitalizations IPOs list, retail investors will lose interest in Growth Market, and few institutional investors will invest in small capitalization stocks with below 10 billion yen.
If the listing criteria for Prime Market are raised, high growth companies will remain on Growth Market until they reach that scale, allowing both individual and institutional investors to invest.


The Way to Invigorate the Growth Market Is to Raise the Listing Standards for the Prime Market

TSE Tokyo Price Index TOPIX

The Way to Invigorate the Growth Market Is to Raise the Listing Standards for the Prime Market