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.

"Requests" Through Overseas Investor Engagement Will Continue to Be More Effective than TSE Requests

Investors Expect a Feasible Management Strategy Rather than an Accurate Cost of Capital

What Can Be Done to Make the Independence of the Committee Function that Investors Have Questioned?

Meaningful If "P/B Below 1x" Is a Change of Mindset that Makes Managers Decide to Take an MBO

Preparation in Advance for In-Depth Discussions Is Important for Both Investors and Managers

Companies Keen to Reduce Administrative Costs, but Reluctant to Provide Convenience to Shareholders

Headline Is Eye Catching, but the Revised Voting Criteria Do Not Affect Most Companies

Unification of Quarterly Securities Reports with Financial Summary to TSE Is Generally Appropriate

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>TSE's request to raise P/B was issued March end, and the number of companies that have disclosed their improvement measures is still low, at only about 30% of all companies.</li>
<li>Companies are likely to use good examples, but because the factors that increase share price vary from company to company, companies must offer their own solutions to their own situations.</li>
<li>Investors don't want to see "P/B improvement plan" that follows the template, but want to see compelling measures that demonstrate cash flow growth, which is based on share price appreciation.</li>
</ul>


TSE's request to raise P/B was issued March end, and the number of companies that have disclosed their improvement measures is still low, at only about 30% of all companies.
Companies are likely to use good examples, but because the factors that increase share price vary from company to company, companies must offer their own solutions to their own situations.
Investors don't want to see "P/B improvement plan" that follows the template, but want to see compelling measures that demonstrate cash flow growth, which is based on share price appreciation.


Investors Do Not Want to See A "P/B Improvement Plan" That Follows a Template

TSE Tokyo Price Index TOPIX

Investors Do Not Want to See A "P/B Improvement Plan" That Follows a Template