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.

Prime Market Should Raise Market Cap Standards. Companies Should Take Measures to Raise Valuations

The Problem Isn’t for the Subsidiary Shareholders but for the Parent Company Shareholders

Is It Really Better for Shareholders if NISSOL Remains a Subsidiary of Nippon Steel Corporation?

Conflicts of Interest Prevent TSE from Resolving Prime Market Listing Criteria Issues

Little Discussion of Listing Criteria Appropriate for Prime Market Listed Companies

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>With the shrinking domestic market, the steel brokerage business is no longer a profitable business for trading companies, so Nippon Steel needs to strengthen its own sales capabilities.</li>
<li>While this TOB will have negative impact on Nippon Steel's balance sheet and profit margins in the short term, the steel market may be moving more significantly than we think.</li>
<li>While it would be better for Nippon Steel to make NISSOL 100% subsidiary, I suspect that NISSOL is still being kept as a card to be sold for cash generation.</li>
</ul>


With the shrinking domestic market, the steel brokerage business is no longer a profitable business for trading companies, so Nippon Steel needs to strengthen its own sales capabilities.
While this TOB will have negative impact on Nippon Steel's balance sheet and profit margins in the short term, the steel market may be moving more significantly than we think.
While it would be better for Nippon Steel to make NISSOL 100% subsidiary, I suspect that NISSOL is still being kept as a card to be sold for cash generation.


Is NISSOL (2327) Still a Card to Be Sold for Cash Generation?