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: Considerations Regarding Retirement of Treasury Stock

Japan's Governance: Considerations Regarding the Percentage of Foreign Shareholders

Japan's Governance: Takeover Defense Measures and Foreign Shareholder Ratio

Japan's Governance: Retirement of Treasury Stock and Performance, Corporate Governance

Japan's Governance: TOPIX Reform Update (2) - Change in Calculation Method of Floating Share Ratio

Japan's Governance: From "Status of Compliance with the Corporate Governance Code" Disclosed by TSE

Japan's Governance: About the Article on Holding Shares Contributed to Retirement Benefit Trusts

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>It is said that an increasing number of companies are cancelling their own shares to meet prime market listing criteria that requires % of tradable shares be at least 35%.</li>
<li>However, in reality, more than half of companies have never cancelled treasury stock. Companies that have retired three or more times perform significantly better in Key performance and Corporate Governance.</li>
<li>It is worthwhile to continue to focus on the retirement of treasury stock as a litmus test for assessing the progress of corporate governance initiatives and performance improvement.</li>
</ul>


It is said that an increasing number of companies are cancelling their own shares to meet prime market listing criteria that requires % of tradable shares be at least 35%.
However, in reality, more than half of companies have never cancelled treasury stock. Companies that have retired three or more times perform significantly better in Key performance and Corporate Governance.
It is worthwhile to continue to focus on the retirement of treasury stock as a litmus test for assessing the progress of corporate governance initiatives and performance improvement.


Japan's Governance: Prime Market Standard and Treasury Stock Retirement

TSE Tokyo Price Index TOPIX

Japan's Governance: Prime Market Standard and Treasury Stock Retirement