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.

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

Only 20% of Current CEOs in Japan Expected to Have a Female CEO Within 10 Years

% of Female Board Members Asks "Seriousness" Of Improving Profitability and Governance Etc.

Disclosure of Management Strategies with Cost of Capital and Stock Price in Mind Is Still Limited

Need to Increase Human Capital Investment as Soon as Possible to Move to High Value-Added Businesses

At the Root of the Diversity Issue Is Traditional Familism in Society and the Workplace

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>While the number of companies with majority of independent directors is still small (15.7% of the Metrical Universe as of September 2023), the number of those companies is steadily increasing.</li>
<li>The group of companies with over 50% independent director are superior in market capitalization, ratio of foreign shareholders, ratio of female board members, ROE, ROA, Tobin's Q, and Metrical Score.</li>
<li>Given that the presence of overseas investors remains high, profitability, share price valuation, and corporate governance practices such as independent director ratios will continue to improve in the future.</li>
</ul>


While the number of companies with majority of independent directors is still small (15.7% of the Metrical Universe as of September 2023), the number of those companies is steadily increasing.
The group of companies with over 50% independent director are superior in market capitalization, ratio of foreign shareholders, ratio of female board members, ROE, ROA, Tobin's Q, and Metrical Score.
Given that the presence of overseas investors remains high, profitability, share price valuation, and corporate governance practices such as independent director ratios will continue to improve in the future.


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

TSE Tokyo Price Index TOPIX

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