Abstract

The harsh reality is that many listed companies have stock prices below their liquidation value (PBR), and some companies are likely to be forced to exit the market without meeting the listing standards. This book provides easy-to-understand explanations to managers and practitioners on how to actually improve corporate value to meet investor expectations. It introduces practical approaches, including what the cost of capital is, how to create a plan to improve PBR, and effective methods for disclosing figures and plans.

The author leads a group of valuation (corporate value evaluation) experts and has experience consulting on capital cost management. A year has passed since the Tokyo Stock Exchange guidelines were announced, but many listed companies still do not know what to do. In response to this situation, this book provides a comprehensive explanation of what managers should know, from the basics to the applications of capital cost and PBR.

Author’s Information

President and CEO of Plutus Consulting. Professor at the Graduate School of Business Administration, Kyoto University. Graduated from the Faculty of Economics, Kyoto University. After working at Mizuho Bank (formerly Fuji Bank), JP Morgan Chase, and Goldman Sachs Securities, he founded Plutus Consulting, Inc., a specialist in corporate valuation, in 2004.