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.

The Situation Is Different for REITs that Rely on Capital Increase, Despite the Same Low P/B Issue

Shareholder Activism Plays a Significant Role in Companies that Are Slow to Change

The Impact of the 2025 Revision of the Stewardship Code Is ...

Why Do Bigger Companies in Japan Repeat Scandals? - Learning from Mitsubishi Electric -

If It Is a Deterrent to the Occurrence of Scandals, Is It Diversity?

Japan's Governance: About the Article on Outside Directors

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>In many cases, management is involved rather than seeking clarification of the actual situation from an independent body. This is the reason why scandals are repeated.</li>
<li>In Japan, awareness of integrity and code of ethics compliance remains very low. A thorough awareness change is required to consider “what is ethical to do and what is not.”</li>
<li>Even after the revision of Whistleblower Protection Act in 2022, harassment of whistleblowers hasn’t stopped. Consequently, the number of whistleblowers is low and whistleblowing hasn’t been able to deter scandals.</li>
</ul>


In many cases, management is involved rather than seeking clarification of the actual situation from an independent body. This is the reason why scandals are repeated.
In Japan, awareness of integrity and code of ethics compliance remains very low. A thorough awareness change is required to consider “what is ethical to do and what is not.”
Even after the revision of Whistleblower Protection Act in 2022, harassment of whistleblowers hasn’t stopped. Consequently, the number of whistleblowers is low and whistleblowing hasn’t been able to deter scandals.


In Order to Avoid Scandals in the Future, Management Must Take Leadership in Changing Mindsets

TSE Tokyo Price Index TOPIX

In Order to Avoid Scandals in the Future, Management Must Take Leadership in Changing Mindsets