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.

Alignment of Management and Shareholder Interests Could Be the Beginning of Happiness

Companies Are Finally at the Starting Line of Taking the First Steps to Improve ROE

Investors Will Again Demand Concrete Measures to Raise ROE and Boost Shareholder Returns in FY3/2025

Growth in Corporate Value over Longer Term Is More Important than Meeting Immediate Listing Criteria

The Fruit of TSE Market Reorganization Was the Creation of Prime Market with 600 Fewer Companies

Companies Should Show a Path to Accelerated Profit Growth Rather than Shareholder Returns

Expanding Nominal Profits from Shift from Deflation Rather than P/B Is the Driver of Stock Prices

Amid Slow ROE Improvement, Calls for Stronger Shareholder Returns Will Become Even Stronger

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>Many of the companies that didn't meet the listing criteria for the prime market still failed to gain market recognition over an 18-month period and moved to the standard market.</li>
<li>It is believed that TSE expects more companies to gradually drop out of Prime Market by raising the hurdle for effort targets that aren’t explicitly stated in the listing criteria.</li>
<li>As quality differences gradually emerge between the Prime and Standard markets, the rift between management awareness and shareholders of Standard market-listed companies is likely to deepen in the future.</li>
</ul>


Many of the companies that didn't meet the listing criteria for the prime market still failed to gain market recognition over an 18-month period and moved to the standard market.
It is believed that TSE expects more companies to gradually drop out of Prime Market by raising the hurdle for effort targets that aren’t explicitly stated in the listing criteria.
As quality differences gradually emerge between the Prime and Standard markets, the rift between management awareness and shareholders of Standard market-listed companies is likely to deepen in the future.


The Rift Between Managers and Shareholders of Standard Market-Listed Companies Is Likely to Deepen

TSE Tokyo Price Index TOPIX

The Rift Between Managers and Shareholders of Standard Market-Listed Companies Is Likely to Deepen