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.

Prime Market Is Still the Market with the Most Listed Companies Even After 171 Companies Are Removed

Preparation in Advance for In-Depth Discussions Is Important for Both Investors and Managers

The ％ of Female Board Members Exceeding 30% Shows Whether the Company Is Truly Pursuing Diversity

Gap in Response to Disclosures in English Compared to the Growing Presence of Overseas Investors

Mismatch Between Documents Needed by Foreign Investors and Those Translated in English by Companies

Earlier Timing of Disclosure in English May Create Another Mismatch with Investor Demand

Should the 2022 Annual Meeting of Shareholders Be Regarded as Constant Progress?

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>Companies disclosing in English increased to 97.2% in 2023 prime market. However, only 15% of overseas investors responded "satisfied," indicating a continuing mismatch between disclosure content and investor needs.</li>
<li>TSE will prioritize the documents according to whether disclosure requires immediacy, and divide companies into mandatory companies and effort companies according to the size and foreign ownership of a company.</li>
<li>However, disclosure in English of lower priority documents would be more difficult. Separating companies would allow the prime market to include companies that don’t need to interact with global investors.</li>
</ul>


Companies disclosing in English increased to 97.2% in 2023 prime market. However, only 15% of overseas investors responded "satisfied," indicating a continuing mismatch between disclosure content and investor needs.
TSE will prioritize the documents according to whether disclosure requires immediacy, and divide companies into mandatory companies and effort companies according to the size and foreign ownership of a company.
However, disclosure in English of lower priority documents would be more difficult. Separating companies would allow the prime market to include companies that don’t need to interact with global investors.


The Problem Is that Companies that Don't Want to Do Disclosure in English Are Listed on Prime Market

TSE Tokyo Price Index TOPIX

The Problem Is that Companies that Don't Want to Do Disclosure in English Are Listed on Prime Market