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 Creation of a Private Stock Market Help Accelerate Industry Restructuring?

From the Reality of 4%, Mandatory English Disclosure of Annual Securities Reports Is a High Hurdle

TSE Should Aim for a Quality Market Rather than a Market Where Listed Companies Can Easily Inhabit

Companies with High Stock Valuations and High Profitability Will Increasingly Attract Investment

For Increasing TOBs and MBOs, Managers Should Be Aware of Listing Costs and PE Market Should Expand

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

When Will Deflationary Mindset of Managers Disappear? Some Companies Have Begun to Change, Though

Investors Want to See a Shift in Management to Create Value, Not Just Meet Government Target Numbers

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>In order to carefully select IPOs and increase MBO/TOB, management's mindset should be shifted to expanding shareholder interests and IPOs that are not for tax-saving purposes.</li>
<li>Many companies still have top management even though the founding family's holdings have already declined. Such companies have relatively low ROE, ROA, and Tobin's Q.</li>
<li>For MBO candidates, the key is to think on the side of institutional investors who propose MBOs through engagement with decision makers and PE funds who provide　capital and business plans.</li>
</ul>


In order to carefully select IPOs and increase MBO/TOB, management's mindset should be shifted to expanding shareholder interests and IPOs that are not for tax-saving purposes.
Many companies still have top management even though the founding family's holdings have already declined. Such companies have relatively low ROE, ROA, and Tobin's Q.
For MBO candidates, the key is to think on the side of institutional investors who propose MBOs through engagement with decision makers and PE funds who provide　capital and business plans.


Companies that Don't Have Growth Plans but Are Competitive in a Specific Market Are Targeted for MBO

TSE Tokyo Price Index TOPIX

Companies that Don't Have Growth Plans but Are Competitive in a Specific Market Are Targeted for MBO