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.

There Aren't Many Companies Where Discipline Is Effectively Applied to Determine Cash Allocation

Although Executive Compensation Has Improved, Many Managers Still Seem Hesitant to Take Risks

Are Investors Prepared for the Upcoming Formalization of Corporate Governance Practices?

Activist Investors Will Focus Their Approach More on Whole Assets that Aren't Being Used Effectively

Now Investors Can Communicate with Company Managers in Common Language, Deep Discussions Will Follow

Approaches Aimed at Resolving “parent-Subsidiary Listings” in the Broad Sense Remain Effective

With Parent-Subsidiary Listing Permitted, Will Concerns on Independence Be Alleviated by Disclosure?

Without Fundamental Solutions, Will Companies Not Chang, After Moving to a Market with Lax Criteria?

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>An increase in the approval rate for shareholder proposals and a decrease in the approval rate for management proposals will influence the company’s subsequent policies.</li>
<li>Thanks to TSE's educational initiatives, there’s been an increase in shareholder proposals that address management issues raised by activist investors. This is expected to encourage companies to implement fundamental reforms.</li>
<li>However, with most shareholder proposals being rejected, there may be companies that are buying time by increasing shareholder returns until they can implement radical measures that carry significant risk.</li>
</ul>


An increase in the approval rate for shareholder proposals and a decrease in the approval rate for management proposals will influence the company’s subsequent policies.
Thanks to TSE's educational initiatives, there’s been an increase in shareholder proposals that address management issues raised by activist investors. This is expected to encourage companies to implement fundamental reforms.
However, with most shareholder proposals being rejected, there may be companies that are buying time by increasing shareholder returns until they can implement radical measures that carry significant risk.


While Companies Buy Time Before Executing Fundamental Measures, Shareholder Proposals Keep Rising

TSE Tokyo Price Index TOPIX

While Companies Buy Time Before Executing Fundamental Measures, Shareholder Proposals Keep Rising