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.

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

Will the Creation of a Private Stock Market Help Accelerate Industry Restructuring?

3/4 of the Companies Are Giving up the Opportunity to Communicate Their Value to Overseas Investors

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

Higher ROE & ROA Are Keys to Higher Valuation, but This Wasn't Easy for Companies with Low Valuation

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

Governance Improvement in 2023 Was Modest but Saved by a Rise in % Woman Board Members

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>P/B's slightly higher valuations in October 2023 while ROE, EPS, and BPS did not change much were due to external factors, not internal factors.</li>
<li>Clearly, improvements in ROE and ROA are effective in improving stock valuations, but valuations have further increased for companies with higher valuations and profitability for the past year.</li>
<li>Some of these companies have begun to use cash more effectively for investment and shareholder returns. The gap in market capitalization between these companies and the rest will increasingly widen.</li>
</ul>


P/B's slightly higher valuations in October 2023 while ROE, EPS, and BPS did not change much were due to external factors, not internal factors.
Clearly, improvements in ROE and ROA are effective in improving stock valuations, but valuations have further increased for companies with higher valuations and profitability for the past year.
Some of these companies have begun to use cash more effectively for investment and shareholder returns. The gap in market capitalization between these companies and the rest will increasingly widen.


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

TSE Tokyo Price Index TOPIX

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