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.

Increasing Attention to the Role Played by Individuals in the Rising Trend of Stock Ownership

No Consistent Relationship Between Executive Compensation and Stock Price/ Earnings Has Been Seen

The Fruit of TSE Market Reorganization Was the Creation of Prime Market with 600 Fewer Companies

When Will Fiduciary Duty Take Root in Japan?

Although It Is Commendable that Voting Behavior of Some Domestic Institutional Investors Has Changed

Cash Flow Return Is Necessary Condition for Higher Stock Valuations; Shareholder Return Is Byproduct

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>Companies that accept reductions in policy shareholdings tend to repurchase their own shares. Pressure to reduce policy shareholdings will increase further this year when share prices are rising.</li>
<li>In order to verify whether institutional investors' voting criteria and voting behavior are consistent, the reasons for supporting/opposing individual proposals should be disclosed in more detail.</li>
<li>Investors are expected to base decisions on performance, as voting advisers returned to policy of recommending voting against top management in companies with lower-than-standard ROEs due to recovery from COVID-19.</li>
</ul>


Companies that accept reductions in policy shareholdings tend to repurchase their own shares. Pressure to reduce policy shareholdings will increase further this year when share prices are rising.
In order to verify whether institutional investors' voting criteria and voting behavior are consistent, the reasons for supporting/opposing individual proposals should be disclosed in more detail.
Investors are expected to base decisions on performance, as voting advisers returned to policy of recommending voting against top management in companies with lower-than-standard ROEs due to recovery from COVID-19.


Capital Efficiency Is the Topic of the June AGM, While What Is Happening to Passive Fund Voting?

TSE Tokyo Price Index TOPIX

Capital Efficiency Is the Topic of the June AGM, While What Is Happening to Passive Fund Voting?