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.

Since Cash on Hand Will Not Decrease in FY2024, Shareholder Returns Remain a Hot Topic

Disclosure of Management Strategies with Cost of Capital and Stock Price in Mind Is Still Limited

The Good Case Companies Had More Opportunities to Reflect on Cost of Capital and Return on Capital

Shareholder Returns Will Increase over June AGM, but Will Companies Hold up with Sluggish ROE?

TSE's "Request" Is a Catalyst for a Final Decision on the Foundation of Years of Engagement

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>If a company hasn't improved its return such as ROE, it's difficult to buy its shares until the plan is more certain that cash flow will expand in the future.</li>
<li>Since cash flow margin must be raised to increase cash flow, the ultimate goal is to achieve sales growth while raising the profit margin on sales.</li>
<li>Cutting costs alone isn't enough; cash must be used for investments that will lead to future growth, so cash must be used for growth investments as well as stock repurchases.</li>
</ul>


If a company hasn't improved its return such as ROE, it's difficult to buy its shares until the plan is more certain that cash flow will expand in the future.
Since cash flow margin must be raised to increase cash flow, the ultimate goal is to achieve sales growth while raising the profit margin on sales.
Cutting costs alone isn't enough; cash must be used for investments that will lead to future growth, so cash must be used for growth investments as well as stock repurchases.


Whether Measures to Meet TSE's Request Increased Certainty Will Be Tested at 2Q Financial Reporting

TSE Tokyo Price Index TOPIX

Whether Measures to Meet TSE's Request Increased Certainty Will Be Tested at 2Q Financial Reporting