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.

Increasing Pressure from Investors for Dissolution of Parent-Subsidiary (Inc. Affiliates) Listings

Investors Are Valuing Equities Thinking that Managers Are Still Slow to Put Cash to Good Use?

Shareholder Proposals Likely a Focus at 2024 AGM Are ROE, P/B, and Parent-Subsidiary Listings

Isn't It Hypocritical to Request a P/B Raising Measure While Continuing the Listed Subsidiary IPO?

ROE Trends Do Not Seem to Indicate a Significant Change in Management's Mindset?

Maybe Management Is Finally Becoming Aware of the Cost of Listing

To Raise ROE, Breaking Away from Familiar Relationships and Creating Tension in Management Is Key

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>In addition to the large number of micro-caps among companies listed on the Growth Market, another problem is the lack of growth in market capitalization after IPOs. </li>
<li>Many managers consider IPO to be the goal, and this is evidenced by the fact that not many companies raise capital at IPO and after listing.</li>
<li>The government proposed raising the market capitalization criteria for IPOs and revitalizing the secondary market for pre-listed companies. TSE is likely to review its listing criteria as early as 2025.</li>
</ul>


In addition to the large number of micro-caps among companies listed on the Growth Market, another problem is the lack of growth in market capitalization after IPOs. 
Many managers consider IPO to be the goal, and this is evidenced by the fact that not many companies raise capital at IPO and after listing.
The government proposed raising the market capitalization criteria for IPOs and revitalizing the secondary market for pre-listed companies. TSE is likely to review its listing criteria as early as 2025.


What Is A "Growth Market" Where Many Companies Do Not Grow in Market Cap or Raise Capital?

TSE Tokyo Price Index TOPIX

What Is A "Growth Market" Where Many Companies Do Not Grow in Market Cap or Raise Capital?