s ss\sgi;sgi;y ygsyajy if m msgi;m ;y ji;jphj;print
Making all weird regexp-delimiters to /, you get:
s//sgi;/sgi; /y/gs/aj/ if m/sgi;; y/i;/ph/; print
Adding some additional clarification, you get:
$_ =~ s//sgi;/sgi; # $_ is now 'sgi;' if($_ =~ /sgi;/){ $_ =~ tr/gs/aj; # 'jai;' } tr/i;/ph/; # 'japh' print $_; # Voila!

In reply to Random keyboard input. Almost. by phubuh

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