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.

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Expanding Nominal Profits from Shift from Deflation Rather than P/B Is the Driver of Stock Prices

Limited Number of Business Types with Great Opportunities for Women Is at Heart of the Problem

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ROE up Modestly, but ROE Plus DOE Is Expected to Reach a Record High This Fiscal Year

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>Modest profit growth and slow ROE growth are expected this year, and sustained TOPIX appreciation in the future will depend on increases in ROE and ROE+DOE.</li>
<li>Lower OP Margin is the reason for the lack of ROE growth in FY3/2023. OP Margin and ROE are expected to have difficulty rebounding from this year's profit forecast.</li>
<li>Looking at the results of DOE, Total Dividends Paid and Dividend Payout for FY3/2023, which have not improved, there is still a lot of room for shareholder returns.</li>
</ul>


Modest profit growth and slow ROE growth are expected this year, and sustained TOPIX appreciation in the future will depend on increases in ROE and ROE+DOE.
Lower OP Margin is the reason for the lack of ROE growth in FY3/2023. OP Margin and ROE are expected to have difficulty rebounding from this year's profit forecast.
Looking at the results of DOE, Total Dividends Paid and Dividend Payout for FY3/2023, which have not improved, there is still a lot of room for shareholder returns.


Amid Slow ROE Improvement, Calls for Stronger Shareholder Returns Will Become Even Stronger

TSE Tokyo Price Index TOPIX

Amid Slow ROE Improvement, Calls for Stronger Shareholder Returns Will Become Even Stronger