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.

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

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

Whatever the Proxy Voting Advisor's Criteria, It Is How Investors Actually Conduct Themselves

How Far Has Corporate Governance Progressed in 2021? (1) ~ Board Practices Section

Japan's Governance: How Far Has Corporate Governance Progressed in 2021 (2)

Japan's Governance: How Far Has Corporate Governance Progressed in 2021? (1)

Japan's Governance: How Far Has Corporate Governance Progressed in 2021(3)

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>Shareholder returns, including dividend policy and treasury stock retirement/buyback and growth policies improved slightly. Still, cash allocations are weak in both shareholder returns and growth, so cash is piling up.</li>
<li>The policy shareholdings is decreasing year by year, but the holdings is so large that they still account for a large % of total assets, so cash is piling up.</li>
<li>Companies with ROEs above 12% achieved even higher returns, and Tobin's Q1.2-1.4 companies (with higher valuations than average) increased slightly. Investors may have valued companies that exhibit higher returns.</li>
</ul>


Shareholder returns, including dividend policy and treasury stock retirement/buyback and growth policies improved slightly. Still, cash allocations are weak in both shareholder returns and growth, so cash is piling up.
The policy shareholdings is decreasing year by year, but the holdings is so large that they still account for a large % of total assets, so cash is piling up.
Companies with ROEs above 12% achieved even higher returns, and Tobin's Q1.2-1.4 companies (with higher valuations than average) increased slightly. Investors may have valued companies that exhibit higher returns.


How Far Has Corporate Governance Progressed in 2021? (1) ~ Key Actions Section

TSE Tokyo Price Index TOPIX

How Far Has Corporate Governance Progressed in 2021? (1) ~ Key Actions Section