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.

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Companies with Low ROEs Have Corporate Governance Practices that Only Make It So

A New Type Of "Deemed Shareholding" Has Emerged!

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Reducing Cross Shareholdings Is Necessary to Increase the Effectiveness of Engagement

What Investors and Companies Should Do to Make Engagement More Effective ....

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>The positive impact of increased dividends must be discounted because seniors, who receive most dividends, are non-working generations and are more vulnerable to the negative impact of rising consumer prices.</li>
<li>The high level of cash on hand should be used effectively for investments and shareholder returns. Looking at listed companies as a whole, both ROE and DOE are below FY2018.</li>
<li>Although the too-low dividend payout of Japanese companies have been corrected, the fact that ROE is still low means that few companies are chosen as investment targets by global investors.</li>
</ul>


The positive impact of increased dividends must be discounted because seniors, who receive most dividends, are non-working generations and are more vulnerable to the negative impact of rising consumer prices.
The high level of cash on hand should be used effectively for investments and shareholder returns. Looking at listed companies as a whole, both ROE and DOE are below FY2018.
Although the too-low dividend payout of Japanese companies have been corrected, the fact that ROE is still low means that few companies are chosen as investment targets by global investors.


To Be Selected by Global Investors as an Investment Target, Increasing Cash Flow Is Crucial

TSE Tokyo Price Index TOPIX

To Be Selected by Global Investors as an Investment Target, Increasing Cash Flow Is Crucial