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.

To Be Selected by Global Investors as an Investment Target, Increasing Cash Flow Is Crucial

Smaller PE Funds May Have Opportunities to Invest in MBOs of TSE Growth Market Companies

Amidst Changes in Purpose of Policy Shareholdings, We Should Note Whether They Are Really Decreasing

Content of Disclosures Is Important, but the Focus Has Shifted to Whether the Goals Can Be Achieved

Do Not Miss the Movement of Deemed Cross-Held Shares, Which Are the Last Resort of Cross-Held Shares

Reducing Cross Shareholdings Is Necessary to Increase the Effectiveness of Engagement

What Investors and Companies Should Do to Make Engagement More Effective ....

What Is Needed for More Engagement to Be Effective Is to Reduce Policy Shareholdings

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>For first time in 30 years, the fund is back, matching the demand of companies that want to reduce cross-holdings immediately and companies that want more time to sell cross-holdings.</li>
<li>If the voting rights of cross-shareholdings contributed to the fund are retained, corporate governance will remain an issue until the fund's investment is terminated.</li>
<li>In reviewing recently filed annual securities reports, we often see cases where cross-held shares in more closely related companies are contributed to retirement benefit trusts instead of being sold.</li>
</ul>


For first time in 30 years, the fund is back, matching the demand of companies that want to reduce cross-holdings immediately and companies that want more time to sell cross-holdings.
If the voting rights of cross-shareholdings contributed to the fund are retained, corporate governance will remain an issue until the fund's investment is terminated.
In reviewing recently filed annual securities reports, we often see cases where cross-held shares in more closely related companies are contributed to retirement benefit trusts instead of being sold.


A New Type Of "Deemed Shareholding" Has Emerged!

TSE Tokyo Price Index TOPIX

A New Type Of "Deemed Shareholding" Has Emerged!