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.

The Hurdles to Achieving Early Submission of Annual Securities Reports Before AGM Dates Are High

Private Equity Investment Managers Are Benefiting the Most from “Revised Disclosure Company List”

Unification of Quarterly Reports Will Further Increase the Role of TSE

No Disruption in Quarterly Disclosure Review, but a Few Companies Disclosed CF Statements in 1Q & 3Q

It's Unreasonable to Hope for Higher Stock Prices While Being Reluctant to Disclose Information

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>The timing of disclosures by companies reviewed by audit firms has changed little from the previous year, but over the past five years it has gradually become earlier.</li>
<li>Although quarterly reports are unified into the disclosure of quarterly financial statements without mandatory reviews, many large companies disclose their financial statements with reviews, so the administrative burden doesn't decrease.</li>
<li>Many smaller companies that disclosed without review experienced a reduced burden, but their financial statements are relatively less reliable than those of larger companies that do have review.</li>
</ul>


The timing of disclosures by companies reviewed by audit firms has changed little from the previous year, but over the past five years it has gradually become earlier.
Although quarterly reports are unified into the disclosure of quarterly financial statements without mandatory reviews, many large companies disclose their financial statements with reviews, so the administrative burden doesn't decrease.
Many smaller companies that disclosed without review experienced a reduced burden, but their financial statements are relatively less reliable than those of larger companies that do have review.


Quarterly Reporting Review Results in Reliability in F/S Between Larger and Smaller Companies

TSE Tokyo Price Index TOPIX

Quarterly Reporting Review Results in Reliability in F/S Between Larger and Smaller Companies