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.

Slow Policy Shareholdings Reduction Is Similar Backdrop to Unclear Nomination Process for Directors

Reducing Cross-Shareholdings Returns Companies to Basics of Sustained Growth in Shareholder Returns

Facing the Fundamental Issue that Policy Shareholdings Have Delayed Management Improvement Is Key

Focus on Cash Flow Recovery from Investments as Planned, as Well as Appropriate Cash Allocation

Foreign Ownership, Which Has Reached a Record High of 31.8%, Will Continue to Play a Major Role

Guidebook for Raising P/B Published, but Still Much Work to Be Done to Achieve Goals

Will the Challenges that Have Taken a Decade to Make Progress Finally Be Resolved?

Can Investors Tolerate the Current Pace of Capital Profitability Improvement?

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>Certainly, the “TSE's request” has begun to change companies' mindsets, but what we focus on now is whether they have put the plan into action and whether it's producing results.</li>
<li>The importance of investor engagement is also indicated in the Japan Investor Relations Association's survey summary. Companies that receive overseas investor engagement are furthering their efforts to improve profitability.</li>
<li>Even among companies with high IR awareness, few have taken serious steps to reform their business portfolios, as under 60% have begun to reform business portfolios.</li>
</ul>


Certainly, the “TSE's request” has begun to change companies' mindsets, but what we focus on now is whether they have put the plan into action and whether it's producing results.
The importance of investor engagement is also indicated in the Japan Investor Relations Association's survey summary. Companies that receive overseas investor engagement are furthering their efforts to improve profitability.
Even among companies with high IR awareness, few have taken serious steps to reform their business portfolios, as under 60% have begun to reform business portfolios.


Not Many Companies Have Implemented Full-Scale Improvements in Return on Capital

TSE Tokyo Price Index TOPIX

Not Many Companies Have Implemented Full-Scale Improvements in Return on Capital