Value Investing in my Circle of Competence, Hurdle Rate

Hurdle Rate

Value Investing in my Circle of Competence

The name “Hurdle rate” was inspired by none other than Mark Leonard of Constellation Software, and their prolific use of a fixed hurdle (discount) rate for their investments. Had you invested into Constellation Software at the time of their IPO as an Australian Investor you would of seen your investment multiply by >100x or (>35% CAGR), an enviable record (Updated March 2023).

Equity Bottom-Up

<ul><li>Avant was founded in 1997 by the current CEO Tetsuji Morikawa and is a Japanese holding company of financial and non-financial software which have the collective goal of assisting its clientele to increase corporate value.</li><li>This includes ‘Diva’ as Japan’s foremost (43% market share) consolidated accounting software and board meetings platform in addition to ‘Avant’, a management system for corporate value enhancement through consolidation of information (Avant Cruise) , charting (Avant Chart) , and corporate value enhancement (Avant Compass).</li><li>Lastly, there is ‘Zeal’ which includes several non-financial platforms that help organise and integrate (with Avant Cruise) from external sources. And interestingly, Avant also owns and operates Internet Disclosure Co, which runs Kaijinet, a site I have frequently visited over the years.</li></ul>

Avant was founded in 1997 by the current CEO Tetsuji Morikawa and is a Japanese holding company of financial and non-financial software which have the collective goal of assisting its clientele to increase corporate value.This includes ‘Diva’ as Japan’s foremost (43% market share) consolidated accounting software and board meetings platform in addition to ‘Avant’, a management system for corporate value enhancement through consolidation of information (Avant Cruise) , charting (Avant Chart) , and corporate value enhancement (Avant Compass).Lastly, there is ‘Zeal’ which includes several non-financial platforms that help organise and integrate (with Avant Cruise) from external sources. And interestingly, Avant also owns and operates Internet Disclosure Co, which runs Kaijinet, a site I have frequently visited over the years.

Japan Experts, Extraordinary Performance, Astris Advisory Japan

Astris Advisory Japan

Japan Experts, Extraordinary Performance

Our Corporate Advisory service is designed to give clients access to a wider range of investors. These include Japan specialists as well as global investors. The goal is to help achieve a fair equity valuation.

<div><div><div><div><ul><li>Evolving to enhance corporate value – AVANT GROUP is a domestic market leader in financial consolidation software embarking on a growth and business transformation strategy.</li><li>Combining the ongoing dynamic need for corporate data management, structural demand for digital transformation, and M&amp;A growth, the company seeks to establish itself as a global standard in providing the necessary data and tools to enhance corporate value to its diverse customer base.</li><li>The new medium-term plan focuses on 1) a software-driven strategy with a strong emphasis on the growth of in-house as well as valid external vendor technology, and 2) allocating ¥19.7 billion cash for growth investments, with the objectives to construct a network of leading-edge technology providers to complement its business.</li></ul></div></div></div></div>

Evolving to enhance corporate value – AVANT GROUP is a domestic market leader in financial consolidation software embarking on a growth and business transformation strategy.Combining the ongoing dynamic need for corporate data management, structural demand for digital transformation, and M&amp;A growth, the company seeks to establish itself as a global standard in providing the necessary data and tools to enhance corporate value to its diverse customer base.The new medium-term plan focuses on 1) a software-driven strategy with a strong emphasis on the growth of in-house as well as valid external vendor technology, and 2) allocating ¥19.7 billion cash for growth investments, with the objectives to construct a network of leading-edge technology providers to complement its business.

Avant Group (3836) - Shifting to a Software-Driven Strategy

Japan

Avant Corp develops computer applications for business solution. The Company sells accounting, planning, and management software. Diva also provides consulting, training, and maintenance services.

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Avant Corp (3836 JP)

Avant Group Corporation (TSE:3836)

Avant was founded in 1997 by the current CEO Tetsuji Morikawa and is a Japanese holding company of financial and non-financial software

Hurdle Rate

Avant Group (3836) - Shifting to a Software-Driven Strategy

AVANT GROUP is a domestic market leader in financial consolidation software embarking on a growth and business transformation strategy.

Astris Advisory Japan

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