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

How Long the Time-Killing Tactics of Companies with Average Foreign Ownership Can Last?

Managers Should Prepare Long-Term Vision and Management Strategy Before Facing Activist Investors

TSE Standard Market Is a Collection of All the Challenges Facing the Tokyo Stock Exchange

Markets Serving as a Landing Place for Companies Failing to Meet Listing Criteria Will Lose Quality

Amid the Spotlight Triggered by TSE's Request, Some Companies Are Shifting into the Shadows

The Valuation Criteria for Stocks Remain Unchanged, but Polarization Continues to Advance

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>Standard Market's listing maintenance criteria are relatively lenient, requiring only market capitalization of at least 1 billion yen in tradable shares, making it a landing spot for companies changing markets.</li>
<li>Companies that transition to Standard Market with its more lenient listing maintenance standards due to failing to meet those standards are characterized by their inability to grow their market capitalization.</li>
<li>The Standard Market has many listed subsidiaries, and concerns about moral hazard arise because their motivation for improving corporate governance practices and pursuing growth is likely low.</li>
</ul>


Standard Market's listing maintenance criteria are relatively lenient, requiring only market capitalization of at least 1 billion yen in tradable shares, making it a landing spot for companies changing markets.
Companies that transition to Standard Market with its more lenient listing maintenance standards due to failing to meet those standards are characterized by their inability to grow their market capitalization.
The Standard Market has many listed subsidiaries, and concerns about moral hazard arise because their motivation for improving corporate governance practices and pursuing growth is likely low.


Unless Companies Are Delisted Even if They Change Markets, the Quality of Tokyo Market Won't Improve

TSE Tokyo Price Index TOPIX

Unless Companies Are Delisted Even if They Change Markets, the Quality of Tokyo Market Won't Improve