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.

Different Criteria for Exercising Voting Rights for Overseas and Domestic Institutional Investors

Cash Flow Return Is Necessary Condition for Higher Stock Valuations; Shareholder Return Is Byproduct

Even Though the June AGM Was Spread over 4 Days, 26.4% of the Companies Were Concentrated on June 29

Might Consider Creating Mechanism to Allocate Companies' Cash in Cash Cow to Companies that Can Grow

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>Domestic investment managers are expected to show a higher percentage in favor of shareholder proposals, but life insurances still face a high hurdle in voting in favor of shareholder proposals.</li>
<li>It is relatively easy to decide for or against a proposal based on quantitative criteria such as the level of ROE or whether there are zero female directors.</li>
<li>Few institutional investors adequately disclose the reasons for approval or disapproval of individual proposals. Disclosure of reasons for approval or disapproval is required for company proposals that are controversial.</li>
</ul>


Domestic investment managers are expected to show a higher percentage in favor of shareholder proposals, but life insurances still face a high hurdle in voting in favor of shareholder proposals.
It is relatively easy to decide for or against a proposal based on quantitative criteria such as the level of ROE or whether there are zero female directors.
Few institutional investors adequately disclose the reasons for approval or disapproval of individual proposals. Disclosure of reasons for approval or disapproval is required for company proposals that are controversial.


Rather More Proposals that Have to Be Considered for or Against on a Qualitative, Case-By-Case Basis

TSE Tokyo Price Index TOPIX

Rather More Proposals that Have to Be Considered for or Against on a Qualitative, Case-By-Case Basis