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.

Doesn't Cooperation Rather than Competition Slow the Pace of Improvement in Disclosure in English?

Simultaneous Disclosure in Japanese and English Is the Immediate Goal

Investors Expect a Feasible Management Strategy Rather than an Accurate Cost of Capital

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

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

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

"Requests" Through Overseas Investor Engagement Will Continue to Be More Effective than TSE Requests

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>It will be useful for investors if timely disclosure information, which has large market impact but is still disclosed in English by half of companies, is disclosed in English simultaneously.</li>
<li>By limiting the TSE policy to documents that are already disclosed in English by many companies, there is concern that other high-demand documents may not be disclosed in English.</li>
<li>An analysis of English disclosure status and value creation indicators shows that many companies, even those with high profitability and high stock valuation, are not ready for disclosure in English.</li>
</ul>


It will be useful for investors if timely disclosure information, which has large market impact but is still disclosed in English by half of companies, is disclosed in English simultaneously.
By limiting the TSE policy to documents that are already disclosed in English by many companies, there is concern that other high-demand documents may not be disclosed in English.
An analysis of English disclosure status and value creation indicators shows that many companies, even those with high profitability and high stock valuation, are not ready for disclosure in English.


TSE Policy Seems to Be that Disclosure in English Is Left to the Companies' Own Initiative

TSE Tokyo Price Index TOPIX

TSE Policy Seems to Be that Disclosure in English Is Left to the Companies' Own Initiative