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.

Amidst Changes in Purpose of Policy Shareholdings, We Should Note Whether They Are Really Decreasing

Slow Policy Shareholdings Reduction Is Similar Backdrop to Unclear Nomination Process for Directors

Companies' Interest in Lowering Market Cap Threshold and Timing of Scope 3 Disclosure Requirements

Not Many Companies Have Implemented Full-Scale Improvements in Return on Capital

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>Companies that have been identified by investors as having issues with their policy shareholdings have included in annual securities reports a direction to reduce them a year ahead of schedule.</li>
<li>It's progress to disclose in annual securities reports the policy. However, the focus is on whether the policy is reasonable and whether the speed and milestones of reduction are sufficient.</li>
<li>The slow pace of the company's policy of “reducing” cross-shareholdings is no longer reasonable, as both the elimination of cross-shareholdings and the improvement of ROE have been slow in pace.</li>
</ul>


Companies that have been identified by investors as having issues with their policy shareholdings have included in annual securities reports a direction to reduce them a year ahead of schedule.
It's progress to disclose in annual securities reports the policy. However, the focus is on whether the policy is reasonable and whether the speed and milestones of reduction are sufficient.
The slow pace of the company's policy of “reducing” cross-shareholdings is no longer reasonable, as both the elimination of cross-shareholdings and the improvement of ROE have been slow in pace.


Facing the Fundamental Issue that Policy Shareholdings Have Delayed Management Improvement Is Key

TSE Tokyo Price Index TOPIX

Facing the Fundamental Issue that Policy Shareholdings Have Delayed Management Improvement Is Key