bullish
Miroku Jyoho Service (TSE:9928)
SUMMARY
- Miroku Jyoho Service (TSE:9928) , which offers on-premises, hybrid (IaaS) and cloud accounting software to Japanese enterprises of various sizes.
- Our purchase is centred around the business achieving further transition to the cloud, allowing for substantial margin improvement through the accumulation of high gross margin SaaS revenue.
- This transition has impacted firm profitability in the short term due to the shift in revenue recognition as quoted below by the company
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