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.

The Goose that Takes Out the Golden Egg Dies. Manager Should Explain How the Goose Can Grow Bigger

Golden Egg Was Not Lost, but How Long Can Keisei Electric Railway Buy Time?

Keisei Electric Railway's Problems Are Part of a Cross-Shareholding Dissolution Process

Parent-Subsidiary Listing Strategy Expected to Be Even More Attractive

2 Rakuten Subsidiaries' Listings Run Counter to the Dissolution of Parent-Subsidiary Listings

Meaningful If "P/B Below 1x" Is a Change of Mindset that Makes Managers Decide to Take an MBO

% of Female Board Members Is a Measure of a Company's Seriousness About Improving Its Practices

Companies with over 50% Independent Directors Have High Profitability and Stock Valuations

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>By canceling the IPO of Rakuten Securities, it is assumed that Rakuten Group wanted to generate cash on schedule even if it was 10 billion yen less than originally planned.</li>
<li>Although Rakuten Group could generate cash in the predetermined time. it remains unclear whether the company has secured a path to improve cash flow in the pending cell phone business.</li>
<li>If Rakuten Securities went to public, another parent-subsidiary listing would have been created, so the cancellation of the IPO can be evaluated as positive for the quality of the market.</li>
</ul>


By canceling the IPO of Rakuten Securities, it is assumed that Rakuten Group wanted to generate cash on schedule even if it was 10 billion yen less than originally planned.
Although Rakuten Group could generate cash in the predetermined time. it remains unclear whether the company has secured a path to improve cash flow in the pending cell phone business.
If Rakuten Securities went to public, another parent-subsidiary listing would have been created, so the cancellation of the IPO can be evaluated as positive for the quality of the market.


Cash Generation from the Sale of Subsidiary Shares Is the Default, but the Issue Remains Postponed