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.

To Raise ROE, Breaking Away from Familiar Relationships and Creating Tension in Management Is Key

ROE Trends Do Not Seem to Indicate a Significant Change in Management's Mindset?

Isn't It Hypocritical to Request a P/B Raising Measure While Continuing the Listed Subsidiary IPO?

Changing Japanese Companies Is Not TSE Request but Inflation that Changes Mindset of All Managers

What Changes in the External Environment Are Changing the Mindset of Managers?

ROE and Valuations of Japanese Stocks Will Improve Through Dissolution of Parent-Subsidiary Listings

TSE's Request for Disclosure About Parent-Subsidiary Listings Is an Improvement, Not a Solution

Still Many "Parent-Subsidiary Listings" Keep to Provide Investment Opportunities for Inefficiencies

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>Looking at BOJ's fund flows for private non-financial corporations for 4 cumulative quarters, Cash and Deposits have increased, and Outward Direct Investment has increased steadily as a destination for cash.</li>
<li>The average dividend payout ratio for listed companies has remained flat, while both ROE and DOE have declined slightly, which may reinforce the view that shareholder returns are not sufficient.</li>
<li>With cash on hand still increasing while capital expenditures have not grown much, the use of cash is expected to remain a focus of discussion next fiscal year.</li>
</ul>


Looking at BOJ's fund flows for private non-financial corporations for 4 cumulative quarters, Cash and Deposits have increased, and Outward Direct Investment has increased steadily as a destination for cash.
The average dividend payout ratio for listed companies has remained flat, while both ROE and DOE have declined slightly, which may reinforce the view that shareholder returns are not sufficient.
With cash on hand still increasing while capital expenditures have not grown much, the use of cash is expected to remain a focus of discussion next fiscal year.


Is the Deflationary Mindset of Managers Still Prevailing?

TSE Tokyo Price Index TOPIX

Is the Deflationary Mindset of Managers Still Prevailing?