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.

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

How Many Substantial Measures—not Piecemeal Shareholder Returns—will Be Unveiled in 2026?

What Factors Have Raised Stock Valuations over the 2 Years and 8 Months Since the TSE's Request?

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

Is the Standard Market, a Collection of Problem Companies, a Gold Mine for Investors?

Raising the Quality of Listed Companies Is Quite Challenging for the Nagoya Stock Exchange

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

Currently Situation Companies Are Matching Numbers Without Fully Grasping the Fundamentals

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>As of the November 2025, 161 companies fail to meet the listing maintenance criteria. If they cannot improve by March, they are scheduled to be delisted 6 months later.</li>
<li>Up to 46 companies may transition from Prime Market to Standard Market. Additionally, some of 33 companies from Growth Market are also expected to transition to the Standard Market.</li>
<li>The companies has little time left to implement measures such as major shareholders selling their stakes, delisting, or moving to another market, or to sustainably increase its market capitalization.</li>
</ul>


As of the November 2025, 161 companies fail to meet the listing maintenance criteria. If they cannot improve by March, they are scheduled to be delisted 6 months later.
Up to 46 companies may transition from Prime Market to Standard Market. Additionally, some of 33 companies from Growth Market are also expected to transition to the Standard Market.
The companies has little time left to implement measures such as major shareholders selling their stakes, delisting, or moving to another market, or to sustainably increase its market capitalization.


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

TSE Tokyo Price Index TOPIX

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