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.

Japan's Governance: Do Companies that Changed Corporate Governance Rating Have Higher Stock Returns?

Japan's Governance: What Are the Effective Factors for Stock Returns?

Japan's Governance: About the Articles on Record-High Total Dividends Paid

Japan's Governance: Has Corporate Governance of Companies that Have Chosen Prime Market Improved?

Japan's Governance: ESG Fund Considerations

Japan's Governance: Do Companies Improve Their Corporate Governance when Profitability Improves?

Japan's Governance: Improvement in Governance of Companies that Chose Prime Market in ROA Change

Japan's Governance: Electronic Voting Platform

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>This article asks the question, "Do companies with high corporate governance ratings have high stock returns?" I would like to discuss by using the Metrical Score to evaluate corporate governance.</li>
<li>Companies with higher Metrical Scores tend to have increased market capitalization from December 2020 to February 2022, showing significant positive correlation between Metrical Scores and change in equity market capitalizations.</li>
<li>Metrical has been monitoring the stock returns of top 20 Metrical Score companies since 2015. The top 20 composites have outperformed both TOPIX and JPX400 indexes on a cumulative basis.</li>
</ul>


This article asks the question, "Do companies with high corporate governance ratings have high stock returns?" I would like to discuss by using the Metrical Score to evaluate corporate governance.
Companies with higher Metrical Scores tend to have increased market capitalization from December 2020 to February 2022, showing significant positive correlation between Metrical Scores and change in equity market capitalizations.
Metrical has been monitoring the stock returns of top 20 Metrical Score companies since 2015. The top 20 composites have outperformed both TOPIX and JPX400 indexes on a cumulative basis.


Japan's Governance: Do Companies with High Corporate Governance Ratings Have High Stock Returns?

TSE Tokyo Price Index TOPIX

Japan's Governance: Do Companies with High Corporate Governance Ratings Have High Stock Returns?