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: Convertible Bonds Issue

Japan's Governance: Dilution of Shareholder Value and Financing

Japan's Governance: Revision of Corporate Governance Code and Ratio of Independent Outside Directors

Japan's Governance: Correlation Analysis Between Board Practice Factors and Value Creation Indices

Japan's Governance: Correlation Between Actions and Value Creation Indicators

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<p>Following the capital raising by two airlines at the end of last year, several food services companies have announced capital raising measures for companies whose businesses have been severely affected by COVID and whose equity capital has been severely damaged. It is expected that such companies will continue to move capital increases in the future. The last time, there was a rush of equity financing after the economic downturn triggered by GFC. Some companies were able to raise earnings after issuing new shares, while others were not. Issuing new shares imposes a heavy burden on existing shareholders, and the required rate of return on equity is also higher when the issue is made at a low stock price. I will be watching with interest to see how the earnings and the stock price performance of the company that will be increasing its capital will be.</p>

Following the capital raising by two airlines at the end of last year, several food services companies have announced capital raising measures for companies whose businesses have been severely affected by COVID and whose equity capital has been severely damaged. It is expected that such companies will continue to move capital increases in the future. The last time, there was a rush of equity financing after the economic downturn triggered by GFC. Some companies were able to raise earnings after issuing new shares, while others were not. Issuing new shares imposes a heavy burden on existing shareholders, and the required rate of return on equity is also higher when the issue is made at a low stock price. I will be watching with interest to see how the earnings and the stock price performance of the company that will be increasing its capital will be.

Japan's Governance: Raising Capital and Cost of Capital Awareness

TSE Tokyo Price Index TOPIX

Japan's Governance: Raising Capital and Cost of Capital Awareness