Miroku Jyoho Service Co., Ltd. (9928) AI Stock Analysis

• Market Cap: ¥52.69B
• Dividend Yield: 3.16%
• Average Volume (3M): 28.87K
• Price to Earnings (P/E): 11.4
• Beta (1Y): 0.71
• Revenue Growth: 4.47%
• EPS Growth: 11.37%
• Country: JP
• Employees: 2,168
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): 58.78
• Shares Outstanding: 32,306,286
• 10 Day Avg. Volume: 30,950
• 30 Day Avg. Volume: 28,870
• PEG Ratio: 3.82
• Price to Book (P/B): 1.89
• Price to Sales (P/S): 1.20
• P/FCF Ratio: 9.46
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 157
• Revenue Forecast (FY): ¥47.80B

• Rating: 74 Outperform
• Price Target: ¥2,128.00 ▲(19.48% Upside)

Miroku Jyoho Service Co., Ltd. demonstrates strong financial performance with consistent revenue growth and robust profitability. The technical analysis shows a positive trend, though short-term momentum is mixed. The valuation indicates potential undervaluation with an attractive dividend yield. These factors collectively contribute to a solid overall stock score.

Miroku Jyoho Service Co., Ltd. Business Overview & Revenue Model

Company Description

Miroku Jyoho Service Co., Ltd. provides systems and solutions to tax accounting and CPA firms, and their client companies, and small/mid-sized companies in Japan. It offers IT and digital enterprise solutions in various areas, such as business management, ERP, financial accounting, tax affairs, salary/personnel, and sales management. The company also engages in the planning, development, and maintenance of industry-specific and process-specific application software; and operation and management of computer systems, as well as sale of software and hardware products. In addition, it provides business succession and revitalization support; education and training; SPALO chatbot; account aggregation; software and web systems commissioned development; communication and UX/UI design; human resources recruitment consulting services; and recruitment media, events and fairs, and back-office support outsourcing services. Further, the company offers services, such as web, company brochures, pamphlets, transportation advertising, posters, business cards, etc.; and organizational and HR diagnostics and consulting, and HR flow services. Additionally, it provides digital marketing support; media and advertising agency; DX platform; experience management; store cash management and distribution; business development and market analysis consulting; and individual credit purchasing agency services, as well as contract management and invoicing-related clerical services outsourcing. The company was incorporated in 1977 and is headquartered in Tokyo, Japan.

How the Company Makes Money

Miroku Jyoho Service generates revenue through various streams, primarily by providing software licenses and maintenance services to local government entities. The company earns money from project-based consulting fees, where it assists in the implementation of IT systems tailored to the specific needs of public organizations. Additionally, recurring revenue comes from ongoing support and updates for its software solutions. Significant partnerships with government agencies and other technology firms enhance its service offerings and contribute to stable revenue growth.

Miroku Jyoho Service Co., Ltd. Financial Statement Overview

Summary

Miroku Jyoho Service Co., Ltd. exhibits a strong financial position characterized by consistent revenue growth, robust profitability margins, and effective cash flow management. The company’s balance sheet reflects a stable financial structure with moderate leverage, supporting its operational and growth capabilities.

Income Statement

The company has shown consistent revenue growth over the years, with a notable increase from 2024 to 2025. Gross Profit Margin and Net Profit Margin have remained strong, indicating effective cost management. The EBIT and EBITDA margins show healthy operational efficiency, reflecting robust profitability.

Balance Sheet

The balance sheet reflects a solid equity base with a moderate debt level, as indicated by a stable Debt-to-Equity Ratio. Return on Equity is strong, highlighting effective utilization of shareholders' equity. The equity ratio is healthy, suggesting a strong asset base to support operations.

Cash Flow

The company has demonstrated strong cash flow management, with a significant increase in Free Cash Flow from 2024 to 2025. Operating Cash Flow consistently exceeds Net Income, indicating efficient cash generation from core operations. The Free Cash Flow to Net Income ratio underscores prudent capital expenditure and investment strategies.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	46.57B	46.16B	43.97B	41.46B	36.60B	34.07B
Gross Profit	27.88B	27.88B	26.80B	25.60B	22.61B	21.15B
EBITDA	8.29B	8.78B	8.76B	9.55B	9.13B	5.61B
Net Income	4.16B	4.38B	4.24B	3.77B	4.52B	2.65B
Balance Sheet
Total Assets	44.48B	45.33B	46.02B	45.79B	43.49B	42.96B
Cash, Cash Equivalents and Short-Term Investments	14.27B	16.72B	18.99B	19.85B	17.26B	18.50B
Total Debt	5.93B	6.36B	9.29B	12.03B	12.54B	15.92B
Total Liabilities	15.55B	15.69B	18.83B	21.02B	20.86B	22.53B
Stockholders Equity	28.63B	29.28B	26.71B	24.28B	22.19B	19.96B
Cash Flow
Free Cash Flow	0.00	5.86B	2.20B	3.94B	3.46B	1.81B
Operating Cash Flow	0.00	6.33B	6.54B	7.16B	6.20B	3.98B
Investing Cash Flow	0.00	-4.41B	-3.61B	-2.86B	-1.49B	-4.30B
Financing Cash Flow	0.00	-4.44B	-4.12B	-1.78B	-5.69B	201.00M

Miroku Jyoho Service Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1781.00
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9928, the sentiment is Positive. The current price of 1781 is below the 20-day moving average (MA) of 1809.55, below the 50-day MA of 1845.26, and below the 200-day MA of 1821.65, indicating a bullish trend. The MACD of -13.68 indicates Negative momentum. The RSI at 60.94 is Neutral, neither overbought nor oversold. The STOCH value of 35.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:9928.

Miroku Jyoho Service Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
3836	77 Outperform	¥66.33B	17.51	―	1.42%	13.38%	24.62%
4719	76 Outperform	¥51.52B	15.26	8.36%	3.00%	6.48%	8.22%
9928	74 Outperform	¥52.69B	11.43	―	3.16%	4.47%	11.37%
3712	72 Outperform	¥18.42B	15.34	―	2.00%	6.96%	16.13%
4323	69 Neutral	¥52.85B	20.35	―	1.64%	12.01%	16.50%
3673	63 Neutral	¥64.41B	84.69	―	0.61%	18.44%	―
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%

Miroku Jyoho Service Co., Ltd. Corporate Events

Miroku Jyoho Service Reports Strong Semi-Annual Financial Results

Miroku Jyoho Service Co., Ltd. reported a positive financial performance for the six months ending September 30, 2025, with a notable increase in net sales and profit attributable to owners of the parent. The company’s strategic focus on enhancing operational efficiency and expanding its service offerings has contributed to a year-on-year growth in comprehensive income by 51.7%. Additionally, the company plans to maintain its dividend forecast, reflecting confidence in its financial stability and future growth prospects.

The most recent analyst rating on (JP:9928) stock is a Buy with a Yen1964.00 price target. To see the full list of analyst forecasts on Miroku Jyoho Service Co., Ltd. stock, see the JP:9928 Stock Forecast page.

Miroku Jyoho Service Launches LucaTech GX Lite to Drive SME Digital Transformation

Miroku Jyoho Service Co., Ltd. announced the launch of LucaTech GX Lite, a new cloud-based ERP product designed to support small enterprises in digital transformation. The product, leveraging Microsoft Azure, aims to streamline operations and improve decision-making through automation and real-time data sharing. While the immediate financial impact is expected to be minor, the company anticipates significant long-term growth in subscription sales and related services, targeting a five-year sales goal of 20 to 25 billion yen across all product editions.

The most recent analyst rating on (JP:9928) stock is a Buy with a Yen2057.00 price target. To see the full list of analyst forecasts on Miroku Jyoho Service Co., Ltd. stock, see the JP:9928 Stock Forecast page.

Miroku Jyoho Service Completes Acquisition of Synergix Technologies

Miroku Jyoho Service Co., Ltd. has completed the acquisition of Synergix Technologies Pte Ltd., a Singaporean cloud ERP company, making it a subsidiary. This acquisition is expected to enhance the corporate value of Miroku Jyoho Service, although its impact on the current fiscal year’s financial results is anticipated to be minor.

The most recent analyst rating on (JP:9928) stock is a Buy with a Yen1999.00 price target. To see the full list of analyst forecasts on Miroku Jyoho Service Co., Ltd. stock, see the JP:9928 Stock Forecast page.

Miroku Jyoho Service Expands Global Reach with Synergix Acquisition

Miroku Jyoho Service Co., Ltd. has announced its acquisition of a 70% stake in Synergix Technologies Pte Ltd., a Singapore-based cloud ERP company, to make it a subsidiary. This strategic move is aimed at strengthening Miroku’s global presence, particularly in the ASEAN region, and enhancing its product capabilities through joint development and technology exchange with Synergix. The acquisition is expected to drive growth in Synergix’s ERP business in Singapore and foster innovation by leveraging the strengths of both companies, ultimately enhancing Miroku’s global management capabilities.

The most recent analyst rating on (JP:9928) stock is a Buy with a Yen2031.00 price target. To see the full list of analyst forecasts on Miroku Jyoho Service Co., Ltd. stock, see the JP:9928 Stock Forecast page.