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.

Diversity Is a Goal of Effort Left to a Company with a Sideways Eye on the Government's Seriousness

The Essence of the Matter Is the Low Return on Cash Flow Generated by the Company's Business

Companies Should Show a Path to Accelerated Profit Growth Rather than Shareholder Returns

Even if Proper Nomination Process Is Skipped, It May Be Considered Better than Zero Women Directors

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>Despite disclosing "improvement measures," many companies have yet to see their stock prices rise sufficiently, which is one reason why an increasing number of companies announce enhanced shareholder returns.</li>
<li>2003 and 2013 were the starting point for monetary easing and excess liquidity helped raise P/B. Whether BOJ will head for the exit or continue easing is a major factor.</li>
<li>Since this stock price rally was brought about by an increase in P/E multiples, further stock price appreciation will require continued profit growth, i.e., an increase in ROE.</li>
</ul>


Despite disclosing "improvement measures," many companies have yet to see their stock prices rise sufficiently, which is one reason why an increasing number of companies announce enhanced shareholder returns.
2003 and 2013 were the starting point for monetary easing and excess liquidity helped raise P/B. Whether BOJ will head for the exit or continue easing is a major factor.
Since this stock price rally was brought about by an increase in P/E multiples, further stock price appreciation will require continued profit growth, i.e., an increase in ROE.


Higher P/E Is Driver for This Stock Rally. Profit Growth Is Necessary for Further Stock Rally

TSE Tokyo Price Index TOPIX

Higher P/E Is Driver for This Stock Rally. Profit Growth Is Necessary for Further Stock Rally