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.

Will the Legal Reform of Substantial Shareholder Disclosure Change the Voting Practices?

Companies May Worked on Raising OP Margin in Minor Ways Without Working on Raising Gross Margins

Effectiveness of MBO Special Committee Is Linked to Effectiveness of Independent Directors

Is Slower Management Decision Making of Japanese Companies Relate to Slower Growth of Market Cap?

The Only Way to Know if a Company Are Improving in Real Terms Is if It Is Creating Value

Going Private Is Not an “exit” from the Market, but the Beginning of the Next Step

Listing Criteria for the TSE Growth Market Is Expected to Be Raised Starting April 2026

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>A common feature of the three companies that clearly indicated the conditions for implementing share repurchases and their position in the cash allocations is high foreign ownership.</li>
<li>Japanese companies' share buybacks are less than 10% of net income, but on a cash flow basis, taking depreciation into account, share buybacks would be much less.</li>
<li>If the cost of capital was calculated, it shouldn't be tremendous requirement to indicate cash allocation and share repurchase terms necessary for targeted return on capital and corporate value.</li>
</ul>


A common feature of the three companies that clearly indicated the conditions for implementing share repurchases and their position in the cash allocations is high foreign ownership.
Japanese companies' share buybacks are less than 10% of net income, but on a cash flow basis, taking depreciation into account, share buybacks would be much less.
If the cost of capital was calculated, it shouldn't be tremendous requirement to indicate cash allocation and share repurchase terms necessary for targeted return on capital and corporate value.


Big Gap Between Companies that “don't Have a Gap in Investors' Viewpoints” and Those that Don't

TSE Tokyo Price Index TOPIX

Big Gap Between Companies that “don't Have a Gap in Investors' Viewpoints” and Those that Don't