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.

Share Buyback Likely to Grow over Growth Investment Hoped for by Corporate Governance Code Revision

Financial Institutions Should Accelerate the Reduction of Their Policy Shareholdings

The Game Has Changed Since the Era of Cross-Shareholdings

Will the Timing of the BOJ ETF Exit Be Revealed in December?

ETF Sale Won't Be Concluded Soon, but as Long as BOJ Keeps Holding Them, the Problems Will Persist

Companies Still Prioritize Compliance with the TSE over Consideration for Shareholders Interest

Investors Are Less Interested in Companies that Generate Little Cash Despite Shareholder Returns

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>BoJ will want to retain discretion regarding ETF sales, so it'll sell flexibly depending on stock market conditions. The sale of ETFs is just the beginning of a long journey.</li>
<li>The shift to inflationary economy has made it easier than before to implement measures to improve capital profitability. Nevertheless, companies whose capital profitability hasn't improved significantly should make further efforts.</li>
<li>To raise average ROE of companies 2ppt, OP margin must increase 25% from current levels. Achieving 25% increase in a company's overall OP margin requires significant restructuring of business portfolios.</li>
</ul>


BoJ will want to retain discretion regarding ETF sales, so it'll sell flexibly depending on stock market conditions. The sale of ETFs is just the beginning of a long journey.
The shift to inflationary economy has made it easier than before to implement measures to improve capital profitability. Nevertheless, companies whose capital profitability hasn't improved significantly should make further efforts.
To raise average ROE of companies 2ppt, OP margin must increase 25% from current levels. Achieving 25% increase in a company's overall OP margin requires significant restructuring of business portfolios.


To Raise a Company's ROE and OP Margin, Significant Restructuring of Business Portfolio Is Necessary

TSE Tokyo Price Index TOPIX

To Raise a Company's ROE and OP Margin, Significant Restructuring of Business Portfolio Is Necessary