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>Eisai, which had more than 30% of foreign shareholdings, had retained anti-takeover measures while incorporating the opinions of foreign shareholders, and has background of seeking reconciliation through enhancing its governance.</li>
<li>While foreign shareholders had voted against Mr. Naito, president who retained anti-takeover provision, most Japanese shareholders had voted in favor, showing "support" him at the shareholders' meeting.</li>
<li>It's likely that Eisai will retain "contingency" anti-takeover, but if the founding family will use it to retain its position, this isn't consistent with the goal of maximizing corporate value.</li>
</ul>


Eisai, which had more than 30% of foreign shareholdings, had retained anti-takeover measures while incorporating the opinions of foreign shareholders, and has background of seeking reconciliation through enhancing its governance.
While foreign shareholders had voted against Mr. Naito, president who retained anti-takeover provision, most Japanese shareholders had voted in favor, showing "support" him at the shareholders' meeting.
It's likely that Eisai will retain "contingency" anti-takeover, but if the founding family will use it to retain its position, this isn't consistent with the goal of maximizing corporate value.


Make Us Consider the Issues on Anti-Takeover in a Company with Reduced Stake of Founding Family

Eisai Co Ltd

Make Us Consider the Issues on Anti-Takeover in a Company with Reduced Stake of Founding Family