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.

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

Investors Still Do Not Trust the Profit Margin Improvement in the Mid-Term Management Plan

Investors Are Looking for Solutions to Challenges, Not Simply Improved Communication with Investors

A Common Case of a Company with a Low ROE but with the Founding Family Serving as Successive CEOs

TSE Should Shift Its Business Model from Growing Number of Listed Companies to Expanding Market Cap

The Raising of Listing Criteria in the Growth Market Will Lead to Increased Investment Opportunities

TSE's "Request" Is a Catalyst for a Final Decision on the Foundation of Years of Engagement

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>Although many institutional investors' voting criteria apply the rule of "support the proposed appointment of top management director if one female director is nominated," more in-depth examination should be conducted.</li>
<li>Agenda based on TSE's request isn't easy to understand for all investors, and the current voting guidelines for domestic institutional investors make it unlikely that they will vote for it.</li>
<li>The ISS ROE criteria will be raised next year, and companies may not raise ROE with bold shareholder returns until the voting guidelines for domestic institutional investors are also raised.</li>
</ul>


Although many institutional investors' voting criteria apply the rule of "support the proposed appointment of top management director if one female director is nominated," more in-depth examination should be conducted.
Agenda based on TSE's request isn't easy to understand for all investors, and the current voting guidelines for domestic institutional investors make it unlikely that they will vote for it.
The ISS ROE criteria will be raised next year, and companies may not raise ROE with bold shareholder returns until the voting guidelines for domestic institutional investors are also raised.


Raising ROE May Require Raising Proxy Voting Guidelines

TSE Tokyo Price Index TOPIX

Raising ROE May Require Raising Proxy Voting Guidelines