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.

Activist Investors Will Grow Their Presence, as Japanese Equities Would Be Good Fit for The Approach

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Japanese Companies Targeted by Activist Investors Not Thinking of Cash Allocation, Corporate Value?

Effective Share-Buyback Require Proven Track Record and Communication to Gain Investor Understanding

More Companies Submitted Shareholder Proposals, but All Were Rejected. Where Is the Problem?

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>While shareholder proposals, including those from activist investors, should be considered from independent perspective, it's clear that even companies with high-% independent directors don't necessarily get along with activist investors.</li>
<li>Board independence is not a question of the number or ratio of independent directors; rather, it is a question of whether independent directors are truly functioning on the board.</li>
<li>If the loss of cash results in missed investment opportunities to expand corporate value, this would conflict with interests of shareholders, so subsequent increases in market capitalization should be verified.</li>
</ul>


While shareholder proposals, including those from activist investors, should be considered from independent perspective, it's clear that even companies with high-% independent directors don't necessarily get along with activist investors.
Board independence is not a question of the number or ratio of independent directors; rather, it is a question of whether independent directors are truly functioning on the board.
If the loss of cash results in missed investment opportunities to expand corporate value, this would conflict with interests of shareholders, so subsequent increases in market capitalization should be verified.


Board Independence Is Demonstrated by Whether It Is Aligned with Common Shareholder Goal

TSE Tokyo Price Index TOPIX

Board Independence Is Demonstrated by Whether It Is Aligned with Common Shareholder Goal