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.

Interesting that the Buy Parent Company + Sell Subsidiary Trade Does Not Work

TSE's Request for Disclosure About Parent-Subsidiary Listings Is an Improvement, Not a Solution

Ownership of Company Stock Is a Key in Managing the Company with the Same Goals as Shareholders

Japan's Governance: Parent-Subsidiary Listing: Parent, Arcland Sakamoto Choosing a Different Path

Valuations Will Rise when the Management Changes To "Maximizing Shareholder Interest"

Parent-Subsidiary Listing Strategy Expected to Be Even More Attractive

Meaningful If "P/B Below 1x" Is a Change of Mindset that Makes Managers Decide to Take an MBO

% of Female Board Members Is a Measure of a Company's Seriousness About Improving Its Practices

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>Maintaining a parent-subsidiary listing that fails to ensure the interests of minority shareholders indicates that the parent company is willing to tolerate dysfunctional corporate governance of the subsidiary.</li>
<li>Parent-Subsidiary listings drain the profits of profitable subsidiaries from the parent company, reducing profits and corporate value. The solution to this problem is to eliminate parent-subsidiary listings.</li>
<li>The elimination of parent-subsidiary listings through TOB will reduce market inefficiencies and improve the quality of TSE-listed companies.</li>
</ul>


Maintaining a parent-subsidiary listing that fails to ensure the interests of minority shareholders indicates that the parent company is willing to tolerate dysfunctional corporate governance of the subsidiary.
Parent-Subsidiary listings drain the profits of profitable subsidiaries from the parent company, reducing profits and corporate value. The solution to this problem is to eliminate parent-subsidiary listings.
The elimination of parent-subsidiary listings through TOB will reduce market inefficiencies and improve the quality of TSE-listed companies.


Still Many "Parent-Subsidiary Listings" Keep to Provide Investment Opportunities for Inefficiencies

TSE Tokyo Price Index TOPIX

Still Many "Parent-Subsidiary Listings" Keep to Provide Investment Opportunities for Inefficiencies