METRICAL:CG Stock Performance (Japan): October 2023

In October, the stock market was in step with the U.S. stock market, which rose and fell in response to changes in U.S. long-term interest rates, and after a decline at the beginning of the month and a rebound in the middle of the month, the stock market was in a selling trend toward the end of the month.
The CG Top 20 index outperformed the TOPIX and JPX400 indexes for the second consecutive month in October.

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

TSE has released the material “Status of Companies’ Responses and Follow-up on “Responses to Achieve Management Conscious of Cost of Capital and Stock Prices” at the 11th Follow-up Meeting on Revision of Market Classification held on August 29, 2023. I would like to provide a summary of this document below and consider the issues discussed.

Status of display regarding “Measures to realize management conscious of cost of capital and stock price”
 Based on the corporate governance reports* of listed companies in light of the recent request for “measures to realize management with awareness of cost of capital and stock price” (compiled as of mid-July, when the CG reports of companies whose fiscal year ended in March were available).
※ The current request does not specify the documents to be disclosed, but requires that a statement be made in the CG report to the effect that disclosure has been made and the method of access to such disclosure.