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.

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Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>In March, Japan Airport Terminal raised 56.5 billion yen through equity financing. I attended an analyst meeting and would like to share my thoughts on the company.</li>
<li>JAT will start investing in the next fiscal year, and balance sheet is expected to expand. If operating cash flow doesn't grow, equity finance is likely to be taken out.</li>
<li>ROE isn't included in the numerical targets. Considering the fact that treasury stock was sold in the equity financing, the management has distanced itself from focusing on shareholder interests.</li>
</ul>


In March, Japan Airport Terminal raised 56.5 billion yen through equity financing. I attended an analyst meeting and would like to share my thoughts on the company.
JAT will start investing in the next fiscal year, and balance sheet is expected to expand. If operating cash flow doesn't grow, equity finance is likely to be taken out.
ROE isn't included in the numerical targets. Considering the fact that treasury stock was sold in the equity financing, the management has distanced itself from focusing on shareholder interests.


Japan's Governance: Equity Finance Update: Japan Airport Terminal (9706）

Japan Airport Terminal Co

Japan's Governance: Equity Finance Update: Japan Airport Terminal (9706）