{"id":181,"date":"2018-09-24T21:46:05","date_gmt":"2018-09-24T12:46:05","guid":{"rendered":"http:\/\/nsspirt-cashf2.com\/2018\/09\/24\/2018-09-24-214605\/"},"modified":"2023-09-25T13:56:27","modified_gmt":"2023-09-25T04:56:27","slug":"theoretical-stock-price-calculation","status":"publish","type":"post","link":"https:\/\/www.nsspirt-cashf2.com\/ba\/theoretical-stock-price-calculation\/","title":{"rendered":"\u3010\u7406\u8ad6\u682a\u4fa1\u3011\u59a5\u5f53\u306a\u682a\u4fa1\u3092\u8a08\u7b97\u3059\u308b\u305f\u3081\u306e3\u3064\u306e\u65b9\u6cd5\u30fb\u8a08\u7b97\u5f0f\u3010\u56f3\u89e3\u3042\u308a\u3011"},"content":{"rendered":"<p>\u682a\u4fa1\u306e\u59a5\u5f53\u6027\u3092\u5224\u65ad\u3059\u308b\u969b\u306b\u7406\u8ad6\u682a\u4fa1\u3092\u53c2\u8003\u306b\u3057\u307e\u3059\u304c\u3001\u3053\u306e\u7406\u8ad6\u682a\u4fa1\u306b\u306f\u3044\u304f\u3064\u304b\u306e\u6c42\u3081\u65b9\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>\u3053\u306e\u8a18\u4e8b\u3067\u306f\u3001<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/finance-index\/\">\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306e\u57fa\u790e\u77e5\u8b58<\/a>\u3092\u4f7f\u3063\u305f\u4ee3\u8868\u7684\u306a\u7406\u8ad6\u682a\u4fa1\u306e\u7b97\u5b9a\u65b9\u6cd5\u3092\u89e3\u8aac\u3057\u3066\u3044\u304d\u307e\u3059\u3002<\/p>\n<p>\uff08\u3061\u306a\u307f\u306b\u3001\u682a\u4fa1\u306e\u59a5\u5f53\u6027\u3092\u5224\u65ad\u3057\u3066\u3001\u7406\u8ad6\u682a\u4fa1\u3092\u6c42\u3081\u308b\u3053\u3068\u3092\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u3068\u8a00\u3044\u307e\u3059\u3002\uff09<\/p>\n<div id=\"nsspi-414829275\" class=\"nsspi-toc nsspi-entity-placement\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- responsive -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-3661469849757690\"\r\n     data-ad-slot=\"5736131584\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><h2>\u7406\u8ad6\u682a\u4fa1\u3092\u7b97\u51fa\u3059\u308b\u305f\u3081\u306e3\u3064\u306e\u65b9\u6cd5<\/h2>\n<p>\u682a\u4fa1\u306e\u59a5\u5f53\u6027\u3092\u5224\u65ad\u3059\u308b\u65b9\u6cd5\u306f\u4e3b\u306b3\u3064\u3042\u308a\u307e\u3059\u3002<\/p>\n<div class=\"simple-box1\">\n<p><strong>\uff11\uff0e\u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1<\/strong><br \/>\n\u4f01\u696d\u304c\u5c06\u6765\u751f\u307f\u51fa\u3059\u4fa1\u5024\u304b\u3089\u59a5\u5f53\u306a\u682a\u4fa1\u3092\u6c42\u3081\u308b\u65b9\u6cd5\u3067\u3059\u3002\uff08\u4f8b\uff1a<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/dcf-examples\/\">DCF\u6cd5<\/a>\uff09<\/p>\n<p><strong>\uff12\uff0e\u30de\u30fc\u30b1\u30c3\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1<\/strong><br \/>\n\u5e02\u5834\u306e\u671f\u5f85\u5024\u3084\u985e\u4f3c\u4f01\u696d\u3068\u306e\u6bd4\u8f03\u304b\u3089\u59a5\u5f53\u306a\u682a\u4fa1\u3092\u6c42\u3081\u308b\u65b9\u6cd5\u3067\u3059\u3002\uff08\u4f8b\uff1a<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/per\/\">PER<\/a>\u3001<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/pbr\/\">PBR<\/a>\u3001<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/ebitda\/\">EV\uff0fEBITDA\u500d\u7387<\/a>\uff09<\/p>\n<p><strong>\uff13\uff0e\u30b3\u30b9\u30c8\u30fb\u30a2\u30d7\u30ed\u30fc\u30c1<br \/>\n<\/strong>\u4fdd\u6709\u3057\u3066\u3044\u308b\u7d14\u8cc7\u7523\u984d\u304b\u3089\u682a\u4fa1\u3092\u6c42\u3081\u308b\u65b9\u6cd5\u3067\u3059\u3002\uff08\u4f8b\uff1a\u6642\u4fa1\u7d14\u8cc7\u7523\u6cd5\uff09<\/p>\n<\/div>\n<p>\u3053\u308c\u3089\u3092\u5168\u3066\u4f7f\u3046\u304b\u3001\u3069\u308c\u304b1\u3064\u3060\u3051\u4f7f\u3046\u304b\u306a\u3069\u306f\u30b1\u30fc\u30b9\u30d0\u30a4\u30b1\u30fc\u30b9\u3067\u3059\u304c\u3001\u305d\u308c\u305e\u308c\u306e\u6307\u6a19\u3054\u3068\u306b\u7279\u5fb4\u304c\u5206\u304b\u308c\u308b\u306e\u3067\u3001\u5b9f\u52d9\u4e0a\u306f\u3053\u308c\u3089\u306e\u6307\u6a19\u3092\u7d44\u307f\u5408\u308f\u305b\u3066\u4f7f\u3046\u3053\u3068\u304c\u591a\u3044\u3088\u3046\u3067\u3059\u3002<\/p>\n<h2>\u7406\u8ad6\u682a\u4fa1\u306e\u8a08\u7b97\u65b9\u6cd5\uff11\uff1a\u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\uff08DCF\u6cd5\uff09<\/h2>\n<p>\u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\u3068\u3057\u3066\u3001\u6700\u3082\u3088\u304f\u7528\u3044\u3089\u308c\u308b<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/dcf\/\">DCF\u6cd5<\/a>\u3092\u7d39\u4ecb\u3057\u307e\u3059\u3002<\/p>\n<p>DCF\u6cd5\u3092\u4f7f\u3046\u3068\u3001<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/fcf\/\">\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\uff08FCF\uff09<\/a>\u304b\u3089\u3001\u4e8b\u696d\u4fa1\u5024\u3092\u6b21\u306e\u8a08\u7b97\u5f0f\u3067\u8868\u3055\u308c\u307e\u3059\u3002<\/p>\n<div class=\"simple-box1\">\n<p><strong>\u4e8b\u696d\u4fa1\u5024\u3000\uff1d<\/strong>\u3000<strong>FCF\uff0f\uff08r\uff0dg\uff09<\/strong><\/p>\n<p>r\uff1a\u30ea\u30b9\u30af\uff08<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/wacc-capm\/\">WACC<\/a>\u306a\u3069\u3092\u7528\u3044\u307e\u3059\uff09<br \/>\ng\uff1a\u671f\u5f85\u3067\u304d\u308b\u6210\u9577\u7387<\/p>\n<\/div>\n<p>\u4e8b\u696d\u4fa1\u5024\u304c\u308f\u304b\u308b\u3068\u3001\u975e\u4e8b\u696d\u7528\u8cc7\u7523\u3068\u6709\u5229\u5b50\u8ca0\u50b5\u304b\u3089\u6b21\u306e\u3088\u3046\u306b\u682a\u4e3b\u4fa1\u5024\u3092\u6c42\u3081\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/p>\n<div class=\"simple-box1\">\n<p><strong><span style=\"font-size: 1em; letter-spacing: 0.05em;\">\u682a\u4e3b\u4fa1\u5024\u3000\u3000\uff1d\u3000\u4e8b\u696d\u4fa1\u5024\u3000\uff0b\u3000\u975e\u4e8b\u696d\u7528\u8cc7\u7523\u3000\u30fc\u3000\u6709\u5229\u5b50\u8ca0\u50b5<\/span><\/strong><\/p>\n<\/div>\n<p>\uff08<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/corporate-value\/\">\u4f01\u696d\u4fa1\u5024\u30fb\u682a\u4e3b\u4fa1\u5024\u306e\u8a73\u7d30\u306f\u3053\u3061\u3089\u306e\u30da\u30fc\u30b8<\/a>\u3092\u3054\u89a7\u304f\u3060\u3055\u3044\uff09<\/p>\n<p>\u682a\u4e3b\u4fa1\u5024\u304b\u3089\u767a\u884c\u6e08\u682a\u5f0f\u7dcf\u6570\u3092\u5f15\u304f\u3068\u3001\u7406\u8ad6\u682a\u4fa1\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u5148\u307b\u3069\u306e2\u3064\u306e\u5f0f\u3068\u5408\u308f\u305b\u308b\u3068\u3001\u6b21\u306e\u8a08\u7b97\u5f0f\u3067\u8868\u73fe\u3067\u304d\u307e\u3059\u3002<\/p>\n<div class=\"simple-box1\">\n<p><strong><span style=\"font-size: 1em; letter-spacing: 0.05em;\">\u7406\u8ad6\u682a\u4fa1\u3000\uff1d\u3000\u682a\u4e3b\u4fa1\u5024\u3000\uff0f\u3000\u767a\u884c\u6e08\u682a\u5f0f\u7dcf\u6570\u3000<\/span><\/strong><\/p>\n<p><strong><span style=\"font-size: 1em; letter-spacing: 0.05em;\">\uff1d\u3000\uff08\u4e8b\u696d\u4fa1\u5024\u3000\uff0b\u3000\u975e\u4e8b\u696d\u7528\u8cc7\u7523\u3000\u30fc\u3000\u6709\u5229\u5b50\u8ca0\u50b5\uff09\u3000\uff0f\u3000\u767a\u884c\u6e08\u682a\u5f0f\u7dcf\u6570<\/span><\/strong><\/p>\n<p><strong>\uff1d\u3000\uff3b (FCF\uff0f(r\uff0dg)) <span style=\"font-size: 1em; letter-spacing: 0.05em;\">\uff0b\u3000\u975e\u4e8b\u696d\u7528\u8cc7\u7523\u3000\u30fc\u3000\u6709\u5229\u5b50\u8ca0\u50b5\uff3d\uff0f\u3000\u767a\u884c\u6e08\u682a\u5f0f\u7dcf\u6570<\/span><\/strong><\/p>\n<\/div>\n<p>DCF\u6cd5\u306f\u3001\u8907\u96d1\u306a\u5c06\u6765\u4e88\u6e2c\u3092\u5165\u308c\u305f\u30b7\u30ca\u30ea\u30aa\u306b\u3082\u5bfe\u5fdc\u3067\u304d\u308b\u3088\u3046\u306b\u306a\u3063\u3066\u3044\u3066\u3001\u4e0a\u8a18\u306e\u5f0f\u3088\u308a\u3082\u7cbe\u7dfb\u306b\u6c42\u3081\u308b\u65b9\u6cd5\u3082\u3042\u308a\u307e\u3059\u3002\uff08\u8a73\u3057\u304f\u306f\u4ee5\u4e0b\u306e\u8a18\u4e8b\u3092\u3054\u89a7\u304f\u3060\u3055\u3044\uff09<\/p>\n<p>https:\/\/www.nsspirt-cashf2.com\/ba\/dcf-examples\/<\/p>\n<p>\u3055\u3089\u306b\u8ca0\u50b5\u306e\u6bd4\u7387\u304c\u5927\u304d\u304f\u5909\u5316\u3059\u308b\u3053\u3068\u304c\u308f\u304b\u3063\u3066\u3044\u308b\u5834\u5408\u306b\u306f\u3001<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/apv\/\">APV\u6cd5<\/a>\u3068\u3044\u3046\u65b9\u6cd5\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>\u3057\u304b\u3057\u3001\u5927\u96d1\u628a\u306b\u898f\u6a21\u611f\u3092\u63b4\u307f\u305f\u3044\u3068\u304d\u306f\u4e0a\u8a18\u306e\u5f0f\u3067\u3082\u5341\u5206\u306b\u8a55\u4fa1\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/p>\n<p>\u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\uff08DCF\u6cd5\uff09\u306b\u306f\u4ee5\u4e0b\u306e\u3088\u3046\u306a\u30e1\u30ea\u30c3\u30c8\u3001\u6ce8\u610f\u70b9\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<div class=\"simple-box4\">\n<p>\u25a0<strong>\u30e1\u30ea\u30c3\u30c8<\/strong><\/p>\n<ul>\n<li><strong>\u3055\u307e\u3056\u307e\u306a\u6210\u9577\u30b7\u30ca\u30ea\u30aa\u306b\u5408\u308f\u305b\u3066\u7406\u8ad6\u682a\u4fa1\u3092\u6c42\u3081\u3089\u308c\u308b<\/strong><\/li>\n<li><strong style=\"font-size: 1em; letter-spacing: 0.05em;\">\u8cb7\u53ce\u3084\u518d\u751f\u306a\u3069\u30c0\u30a4\u30ca\u30df\u30c3\u30af\u306b\u8ca1\u52d9\u69cb\u9020\u304c\u5909\u308f\u308b\u30b1\u30fc\u30b9\u306b\u3082\u5bfe\u5fdc\u3067\u304d\u308b<\/strong><\/li>\n<\/ul>\n<p>\u25a0<strong>\u6ce8\u610f\u70b9<\/strong><\/p>\n<ul>\n<li><strong>\u30b7\u30ca\u30ea\u30aa\u306b\u3088\u3063\u3066\u306f\u8a08\u7b97\u304c\u8907\u96d1\u306b\u306a\u308b<\/strong><\/li>\n<li><strong style=\"font-size: 1em; letter-spacing: 0.05em;\">\u524d\u63d0\u6761\u4ef6\u306e\u7f6e\u304d\u65b9\u306b\u3088\u3063\u3066\u8a08\u7b97\u306e\u30d6\u30ec\u304c\u5927\u304d\u304f\u306a\u308b<\/strong><\/li>\n<\/ul>\n<\/div>\n<div id=\"nsspi-2659141167\" class=\"nsspi-h2-2 nsspi-entity-placement\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block; text-align:center;\"\r\n     data-ad-layout=\"in-article\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-client=\"ca-pub-3661469849757690\"\r\n     data-ad-slot=\"6457306725\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><h2>\u7406\u8ad6\u682a\u4fa1\u306e\u8a08\u7b97\u65b9\u6cd5\uff12\uff1a\u30de\u30fc\u30b1\u30c3\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1<\/h2>\n<p>\u30de\u30fc\u30b1\u30c3\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\u3092\u305d\u306e\u8a55\u4fa1\u3092\u8868\u3059\u6307\u6a19\u3068\u3057\u3066\u3001<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/per\/\">PER<\/a>\u3001<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/pbr\/\">PBR<\/a>\u3001<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/ebitda\/\">EV\uff0fEBITDA\u500d\u7387<\/a>\u306a\u3069\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<h3>PER\u306b\u3088\u308b\u7406\u8ad6\u682a\u4fa1\u8a08\u7b97<\/h3>\n<p>PER\u3068\u306f\u3001\u682a\u4fa1\u304c1\u682a\u3042\u305f\u308a\u306e\u7d14\u5229\u76ca\u306e\u4f55\u500d\u304b\u3092\u793a\u3059\u6307\u6a19\u3067\u3001\u6b21\u306e\u8a08\u7b97\u5f0f\u3067\u8868\u3055\u308c\u307e\u3059\u3002<\/p>\n<div class=\"simple-box1\">\n<p><strong>PER\u3000\uff1d\u3000\u682a\u4fa1\u3000\uff0f\u30001\u682a\u3042\u305f\u308a\u7d14\u5229\u76ca<\/strong><\/p>\n<\/div>\n<p>\u3057\u305f\u304c\u3063\u3066\u3001\u3042\u308b\u4f1a\u793e\u306e\u7d14\u5229\u76ca\u304c\u308f\u304b\u3063\u3066\u3044\u3066\u3001\u59a5\u5f53\u306aPER\u306e\u6c34\u6e96\u304c\u308f\u304b\u308c\u3070\u3001\u4ee5\u4e0b\u306e\u5f0f\u304b\u3089\u682a\u4fa1\u3092\u6c42\u3081\u3089\u308c\u308b\u3088\u3046\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<div class=\"simple-box1\">\n<p><strong>\u7406\u8ad6\u682a\u4fa1\u3000\uff1d\u30001\u682a\u3042\u305f\u308a\u7d14\u5229\u76ca\u3000\u00d7\u3000\u59a5\u5f53\u306aPER<\/strong><\/p>\n<\/div>\n<p>\u3057\u304b\u3057\u3001PER\u306b\u306f\u7d76\u5bfe\u7684\u306b\u59a5\u5f53\u306a\u6c34\u6e96\u3068\u3044\u3046\u306e\u306f\u5b58\u5728\u305b\u305a\u3001\u5e02\u6cc1\u306b\u3082\u5f71\u97ff\u3092\u53d7\u3051\u307e\u3059\u3002<\/p>\n<p>\u4e00\u822c\u7684\u306b\u306f\u4ee5\u4e0b\u306e\u3088\u3046\u306a\u65b9\u6cd5\u3067\u59a5\u5f53\u306aPER\u3092\u8003\u3048\u307e\u3059\u3002<\/p>\n<div class=\"simple-box1\">\n<ul>\n<li><strong>\u985e\u4f3c\u4f01\u696d\u3001\u985e\u4f3c\u696d\u7a2e\u3001\u985e\u4f3c\u30d3\u30b8\u30cd\u30b9\u30e2\u30c7\u30eb\u306e\u4f1a\u793e\u306ePER\uff08\u4f3c\u305f\u3088\u3046\u306a\u8ca1\u52d9\u5185\u5bb9\uff08D\/E\u6bd4\u7387\uff09\u3001\u58f2\u4e0a\u898f\u6a21\u3060\u3068\u3001\u306a\u304a\u3088\u3044\uff09<\/strong><\/li>\n<li><strong>\u904e\u53bb\u306eM&amp;A\u306b\u304a\u3051\u308b\u8cb7\u53ce\u91d1\u984d\u304b\u3089\u8a08\u7b97\u3055\u308c\u305fPER<\/strong><\/li>\n<\/ul>\n<\/div>\n<p>\u3068\u3053\u308d\u3067\u3001\u3053\u306ePER\u306f\u4ee5\u4e0b\u306e\u8a08\u7b97\u5f0f\u3067\u8868\u73fe\u3067\u304d\u307e\u3059\u3002<\/p>\n<div class=\"simple-box1\">\n<p><strong>PER\uff1d1\uff0f\uff08r\uff0dg\uff09<\/strong><\/p>\n<p>r\uff1a\u30ea\u30b9\u30af\uff08<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/wacc-capm\/\">WACC<\/a>\u7b49\uff09<br \/>\ng\uff1a\u671f\u5f85\u3067\u304d\u308b\u6210\u9577\u7387<\/p>\n<\/div>\n<p>\u3053\u306e\u5f0f\u3092\u7406\u8ad6\u682a\u4fa1\u306e\u7b97\u51fa\u5f0f\u306b\u3042\u3066\u306f\u3081\u308b\u3068\u3001\u6b21\u306e\u8a08\u7b97\u5f0f\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<div class=\"simple-box1\">\n<p><strong>\u7406\u8ad6\u682a\u4fa1\u3000\uff1d\u30001\u682a\u3042\u305f\u308a\u7d14\u5229\u76ca\u3000\u00d7\u3000\u59a5\u5f53\u306aPER<\/strong><\/p>\n<p><strong>\uff1d\u30001\u682a\u3042\u305f\u308a\u7d14\u5229\u76ca\u3000\uff0f\uff08r\uff0dg\uff09<\/strong><\/p>\n<\/div>\n<p>\u3053\u306e\u3088\u3046\u306b\u898b\u308b\u3068PER\u306f\u3001\u30de\u30fc\u30b1\u30c3\u30c8\u304c\u5c06\u6765\u306e\u30ea\u30b9\u30af\u3084\u6210\u9577\u6027\u3092\u7e54\u308a\u8fbc\u3093\u3067\u3044\u308b\u6307\u6a19\u3067\u3082\u3042\u308b\u3053\u3068\u304c\u308f\u304b\u308a\u307e\u3059\u3002<\/p>\n<p>PER\u306b\u3088\u308b\u7406\u8ad6\u682a\u4fa1\u7b97\u51fa\u306b\u306f\u3001\u6b21\u306e\u3088\u3046\u306a\u30e1\u30ea\u30c3\u30c8\u3001\u6ce8\u610f\u70b9\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<div class=\"simple-box4\">\n<p>\u25a0<strong>\u30e1\u30ea\u30c3\u30c8<\/strong><\/p>\n<ul>\n<li><strong>\u5e02\u5834\u306e\u30c8\u30ec\u30f3\u30c9\u3092\u53cd\u6620\u3067\u304d\u308b<\/strong><\/li>\n<li><strong>\u7af6\u5408\u4ed6\u793e\u3068\u306e\u6bd4\u8f03\u3082\u3067\u304d\u308b<\/strong><\/li>\n<li><strong>\u8a08\u7b97\u304c\u5358\u7d14\u306b\u306a\u308b<\/strong><\/li>\n<\/ul>\n<p>\u25a0<strong>\u6ce8\u610f\u70b9<\/strong><\/p>\n<ul>\n<li><strong>\u4f1a\u8a08\u65b9\u91dd\u3084\u8cc7\u672c\u653f\u7b56\u306e\u5f71\u97ff\u3092\u53d7\u3051\u3084\u3059\u3044\u7d14\u5229\u76ca\u3092\u4f7f\u3046\u306e\u3067\u3001\u4ed6\u793e\u3068\u6bd4\u8f03\u3059\u308b\u5834\u5408\u306f\u4f1a\u8a08\u65b9\u91dd\u3084\u8cc7\u672c\u653f\u7b56\u306e\u5f71\u97ff\u3092\u6392\u9664\u3059\u308b\u5fc5\u8981\u304c\u3042\u308b<\/strong><\/li>\n<li><strong>\u7d14\u5229\u76ca\u306f\u7279\u5225\u640d\u76ca\u306e\u5f71\u97ff\u3082\u53d7\u3051\u308b\u306e\u3067\u3001\u4e00\u6642\u7684\u306a\u640d\u76ca\u306e\u5f71\u97ff\u3082\u6392\u9664\u3059\u308b\u5fc5\u8981\u304c\u3042\u308b<\/strong><\/li>\n<\/ul>\n<\/div>\n<p>https:\/\/www.nsspirt-cashf2.com\/ba\/per\/<\/p>\n<h3>PBR\u306b\u3088\u308b\u7406\u8ad6\u682a\u4fa1\u8a08\u7b97<\/h3>\n<p>PER\u304c\u4f01\u696d\u53ce\u76ca\u30fb\u5229\u76ca\u306b\u7740\u76ee\u3057\u3066\u682a\u4fa1\u3092\u8003\u3048\u308b\u306e\u306b\u5bfe\u3057\u3066\u3001\u7d14\u8cc7\u7523\u3092\u30d9\u30fc\u30b9\u306b\u682a\u4fa1\u3092\u8003\u3048\u308b\u306e\u304cPBR\u3067\u3059\u3002<\/p>\n<p>PBR\u306f1\u682a\u3042\u305f\u308a\u306e\u7d14\u8cc7\u7523\u306b\u5bfe\u3057\u3066\u682a\u4fa1\u304c\u4f55\u500d\u304b\u3092\u793a\u3059\u6307\u6a19\u3067\u3001\u6b21\u306e\u8a08\u7b97\u5f0f\u3067\u8868\u3055\u308c\u307e\u3059\u3002<\/p>\n<div class=\"simple-box1\">\n<p><strong>PBR\u3000\uff1d\u3000\u682a\u4fa1\u3000\uff0f\u30001\u682a\u3042\u305f\u308a\u7d14\u8cc7\u7523<\/strong><\/p>\n<\/div>\n<p>PBR\u3082\u59a5\u5f53\u306a\u6c34\u6e96\u304c\u308f\u304b\u308c\u3070\u3001\u4ee5\u4e0b\u306e\u3088\u3046\u306b\u7406\u8ad6\u682a\u4fa1\u3092\u6c42\u3081\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/p>\n<div class=\"simple-box1\">\n<p><strong>\u7406\u8ad6\u682a\u4fa1\u3000\uff1d\u30001\u682a\u3042\u305f\u308a\u7d14\u8cc7\u7523\u3000\u00d7\u3000\u59a5\u5f53\u306aPBR<\/strong><\/p>\n<\/div>\n<p>\u3057\u304b\u3057\u3001PER\u3068\u540c\u69d8\u306bPBR\u306b\u3082\u7d76\u5bfe\u7684\u306b\u59a5\u5f53\u306a\u6c34\u6e96\u3068\u3044\u3046\u306e\u306f\u5b58\u5728\u3057\u306a\u3044\u306e\u3067\u3001\u4e00\u822c\u7684\u306b\u306f\u4ee5\u4e0b\u306e\u3088\u3046\u306a\u65b9\u6cd5\u3067\u59a5\u5f53\u306aPBR\u3092\u8003\u3048\u307e\u3059\u3002<\/p>\n<div class=\"simple-box1\">\n<ul>\n<li><strong>\u985e\u4f3c\u4f01\u696d\u3001\u985e\u4f3c\u696d\u7a2e\u3001\u985e\u4f3c\u30d3\u30b8\u30cd\u30b9\u30e2\u30c7\u30eb\u306e\u4f1a\u793e\u306ePBR\uff08\u4f3c\u305f\u3088\u3046\u306a\u8ca1\u52d9\u5185\u5bb9\uff08D\/E\u6bd4\u7387\uff09\u3001\u58f2\u4e0a\u898f\u6a21\u3060\u3068\u3001\u306a\u304a\u3088\u3044\uff09<\/strong><\/li>\n<li><strong>\u904e\u53bb\u306eM&amp;A\u306b\u304a\u3051\u308b\u8cb7\u53ce\u91d1\u984d\u304b\u3089\u8a08\u7b97\u3055\u308c\u305fPBR<\/strong><\/li>\n<\/ul>\n<\/div>\n<p>PBR\u306b\u3088\u308b\u7406\u8ad6\u682a\u4fa1\u7b97\u51fa\u306b\u306f\u3001\u6b21\u306e\u3088\u3046\u306a\u30e1\u30ea\u30c3\u30c8\u3001\u6ce8\u610f\u70b9\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<div class=\"simple-box4\">\n<p>\u25a0<strong>\u30e1\u30ea\u30c3\u30c8<\/strong><\/p>\n<ul>\n<li><strong>\u5e02\u5834\u306e\u30c8\u30ec\u30f3\u30c9\u3092\u53cd\u6620\u3067\u304d\u308b<\/strong><\/li>\n<li><strong>\u7af6\u5408\u4ed6\u793e\u3068\u306e\u6bd4\u8f03\u3082\u3067\u304d\u308b<\/strong><\/li>\n<li><strong>\u8a08\u7b97\u304c\u5358\u7d14\u306b\u306a\u308b<\/strong><\/li>\n<\/ul>\n<p>\u25a0<strong>\u6ce8\u610f\u70b9<\/strong><\/p>\n<ul>\n<li><strong>\u30d6\u30e9\u30f3\u30c9\u3084\u30ce\u30a6\u30cf\u30a6\u306a\u3069\u7121\u5f62\u306e\u8cc7\u7523\u4fa1\u5024\u3092\u8a55\u4fa1\u3067\u304d\u306a\u3044<\/strong><\/li>\n<\/ul>\n<\/div>\n<p>https:\/\/www.nsspirt-cashf2.com\/ba\/pbr\/<\/p>\n<h3>EV\uff0fEBITDA\u500d\u7387\u306b\u3088\u308b\u7406\u8ad6\u682a\u4fa1\u8a08\u7b97<\/h3>\n<p>\u4f1a\u8a08\u65b9\u91dd\u306e\u9055\u3044\u3084\u7279\u5225\u640d\u76ca\u306e\u5f71\u97ff\u3092\u53d7\u3051\u3066\u3057\u307e\u3046\u3068\u3044\u3046PER\u306e\u8ab2\u984c\u3092\u89e3\u6d88\u3059\u3079\u304f\u4f7f\u308f\u308c\u308b\u306e\u304c\u3001EV\uff0fEBITDA\u500d\u7387\u3067\u3059\u3002<\/p>\n<p>EV\uff0fEBITDA\u500d\u7387\u306f\u3001\u6b21\u306e\u8a08\u7b97\u5f0f\u3067\u6c42\u3081\u3089\u308c\u307e\u3059\u3002<\/p>\n<div class=\"simple-box1\">\n<p><strong>EV\uff0fEBITDA\u500d\u7387\u3000\uff1d\u3000EV\uff08\u4f01\u696d\u4fa1\u5024\uff09\u3000\uff0f\u3000EBITDA<\/strong><\/p>\n<p>\uff08EBITDA\uff1a\u5229\u6255\u524d\u7a0e\u5f15\u524d\u511f\u5374\u524d\u5229\u76ca\uff09<\/p>\n<p><strong>EBITDA\u3000\uff1d\u3000\u55b6\u696d\u5229\u76ca\u3000\uff0b\u3000\u6e1b\u4fa1\u511f\u5374\u8cbb<\/strong><\/p>\n<\/div>\n<p>\u3053\u3053\u3067\u3001\u4f01\u696d\u4fa1\u5024\u306f\u6b21\u306e\u5f0f\u3067\u8868\u305b\u308b\u306e\u3067\u3001<\/p>\n<div class=\"simple-box1\">\n<p><strong>EV\uff08\u4f01\u696d\u4fa1\u5024\uff09\uff1d\u3000\u682a\u4e3b\u4fa1\u5024\u3000\uff0b\u3000\u6709\u5229\u5b50\u8ca0\u50b5\u3000\u30fc\u3000\u73fe\u9810\u91d1<\/strong><\/p>\n<\/div>\n<p>\uff08<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/corporate-value\/\">\u4f01\u696d\u4fa1\u5024\u30fb\u682a\u4e3b\u4fa1\u5024\u306e\u8a73\u7d30\u306f\u3053\u3061\u3089\u306e\u30da\u30fc\u30b8<\/a>\u3092\u3054\u89a7\u304f\u3060\u3055\u3044\uff09<\/p>\n<p>EV\uff0fEBITDA\u500d\u7387\u3068\u7406\u8ad6\u682a\u4fa1\u306e\u95a2\u4fc2\u306f\u6b21\u306e\u3088\u3046\u306a\u8a08\u7b97\u5f0f\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<div class=\"simple-box1\">\n<p><strong>EV\uff08\u4f01\u696d\u4fa1\u5024\uff09<\/strong><\/p>\n<p><strong>\uff1d\u3000EBITDA\u3000\u00d7\u3000\u59a5\u5f53\u306aEV\uff0fEBITDA\u500d\u7387<\/strong><\/p>\n<p><strong>\u682a\u4e3b\u4fa1\u5024\u3000\uff0b\u3000\u6709\u5229\u5b50\u8ca0\u50b5<\/strong><\/p>\n<p><strong>\uff1d\u3000EBITDA\u3000\u00d7\u3000\u59a5\u5f53\u306aEV\uff0fEBITDA\u500d\u7387<\/strong><\/p>\n<\/div>\n<p>\u682a\u4e3b\u4fa1\u5024\u3060\u3051\u3092\u5de6\u8fba\u306b\u307e\u3068\u3081\u308b\u3068\u4ee5\u4e0b\u306e\u8a08\u7b97\u5f0f\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<div class=\"simple-box1\">\n<p><strong>\u682a\u4e3b\u4fa1\u5024<\/strong><\/p>\n<p><strong>\uff1d\u3000<\/strong><strong>EBITDA\u3000\u00d7\u3000\u59a5\u5f53\u306aEV\uff0fEBITDA\u500d\u7387\u3000\uff0d\u3000\u6709\u5229\u5b50\u8ca0\u50b5\u3000\uff0b\u3000\u73fe\u9810\u91d1<\/strong><\/p>\n<\/div>\n<p>\u7406\u8ad6\u682a\u4fa1\u306f\uff08\u682a\u4e3b\u4fa1\u5024\uff0f\u767a\u884c\u6e08\u682a\u5f0f\u7dcf\u6570\uff09\u306a\u306e\u3067\u3001EV\uff0fEBITDA\u500d\u7387\u3092\u4f7f\u3063\u305f\u7406\u8ad6\u682a\u4fa1\u306f\u6b21\u306e\u3088\u3046\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<div class=\"simple-box1\">\n<p><strong>\u7406\u8ad6\u682a\u4fa1<\/strong><\/p>\n<p><strong>\uff1d\u3000\uff08EBITDA\u3000\u00d7\u3000\u59a5\u5f53\u306aEV\uff0fEBITDA\u500d\u7387\u3000\uff0d\u3000\u6709\u5229\u5b50\u8ca0\u50b5\u3000\uff0b\u3000\u73fe\u9810\u91d1\uff09\u3000<\/strong><strong>\uff0f\u3000\u767a\u884c\u6e08\u682a\u5f0f\u7dcf\u6570<\/strong><\/p>\n<\/div>\n<p>EV\uff0fEBITDA\u500d\u7387\u306b\u306f\u3001\u6b21\u306e\u3088\u3046\u306a\u30e1\u30ea\u30c3\u30c8\u3068\u6ce8\u610f\u70b9\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<div class=\"simple-box4\">\n<p>\u25a0<strong>\u30e1\u30ea\u30c3\u30c8<\/strong><\/p>\n<ul>\n<li><strong>\u5e02\u5834\u306e\u30c8\u30ec\u30f3\u30c9\u3092\u53cd\u6620\u3067\u304d\u308b<\/strong><\/li>\n<li><strong>\u4f1a\u8a08\u65b9\u91dd\u306e\u5f71\u97ff\u3092\u5c11\u306a\u304f\u3067\u304d\u308b\uff08\u511f\u5374\u8cbb\u306e\u5f71\u97ff\u304c\u306a\u3044\uff09<\/strong><\/li>\n<li><strong>\u8cc7\u672c\u653f\u7b56\u306e\u5f71\u97ff\u3092\u5c11\u306a\u304f\u3067\u304d\u308b\uff08D\/E\u6bd4\u7387\u306e\u5f71\u97ff\u3092\u53d7\u3051\u306a\u3044\uff09<\/strong><\/li>\n<\/ul>\n<p>\u25a0<strong>\u6ce8\u610f\u70b9<\/strong><\/p>\n<ul>\n<li><strong>\u8a08\u7b97\u304c\u3084\u3084\u8907\u96d1\u306b\u306a\u308b<\/strong><\/li>\n<\/ul>\n<\/div>\n<p>EBITDA\u500d\u7387\u306f\u3001\u4e0a\u8a18\u306e\u3088\u3046\u306b\u4f1a\u8a08\u65b9\u91dd\u306e\u5f71\u97ff\u3092\u53d7\u3051\u306b\u304f\u3044\u6307\u6a19\u306a\u306e\u3067\u3001\u682a\u4fa1\u6307\u6a19\u3092\u56fd\u969b\u7684\u306b\u6bd4\u8f03\u3057\u305f\u3044\u5834\u5408\u306b\u6709\u52b9\u306a\u6307\u6a19\u3068\u3044\u3048\u307e\u3059\u3002<\/p>\n<p>https:\/\/www.nsspirt-cashf2.com\/ba\/ebitda\/<\/p>\n<h2>\u7406\u8ad6\u682a\u4fa1\u306e\u8a08\u7b97\u65b9\u6cd5\uff13\uff1a\u30b3\u30b9\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1<\/h2>\n<p>\u30b3\u30b9\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\u3068\u3057\u3066\u3001\u3088\u304f\u7528\u3044\u3089\u308c\u308b\u306e\u306f\u6642\u4fa1\u7d14\u8cc7\u7523\u6cd5\u3067\u3059\u3002<\/p>\n<p>\u6642\u4fa1\u7d14\u8cc7\u7523\u6cd5\u3068\u306f\u3001\u4f01\u696d\u304c\u6301\u3063\u3066\u3044\u308b\u8cc7\u7523\u3092\u5168\u3066\u6642\u4fa1\u306b\u76f4\u3057\u3066\u8a55\u4fa1\u3059\u308b\u65b9\u6cd5\u3067\u3059\u3002<\/p>\n<img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-7830\" src=\"https:\/\/www.nsspirt-cashf2.com\/wp-content\/uploads\/2018\/09\/ev003.jpg\" alt=\"\" width=\"597\" height=\"359\" \/>\n<p>\u6642\u4fa1\u306b\u76f4\u3059\u3068\u304d\u306e\u898b\u65b9\u3068\u3057\u3066\u5927\u304d\u304f2\u3064\u306e\u898b\u65b9\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<div class=\"simple-box1\">\n<ol>\n<li>\u8cc7\u7523\u3092\u518d\u5ea6\u53d6\u5f97\u3059\u308b\u3068\u4eee\u5b9a\u3057\u305f\u5834\u5408\u306b\u304b\u304b\u308b\u8cbb\u7528<\/li>\n<li>\u8cc7\u7523\u3092\u58f2\u5374\u3057\u305f\u3068\u4eee\u5b9a\u3057\u305f\u5834\u5408\u306e\u58f2\u5374\u91d1\u984d<\/li>\n<\/ol>\n<\/div>\n<p>\u30b3\u30b9\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\u306b\u306f\u3001\u6b21\u306e\u3088\u3046\u306a\u30e1\u30ea\u30c3\u30c8\u3068\u6ce8\u610f\u70b9\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<div class=\"simple-box4\">\n<p>\u25a0<strong>\u30e1\u30ea\u30c3\u30c8<\/strong><\/p>\n<ul>\n<li><b>\u4e8b\u696d\u3092\u6e05\u7b97\u3059\u308b\u5834\u5408\u306b\u306f\u3001\u6709\u52b9\u306a\u65b9\u6cd5<\/b><\/li>\n<\/ul>\n<p>\u25a0<strong>\u6ce8\u610f\u70b9<\/strong><\/p>\n<ul>\n<li><strong>\u4e8b\u696d\u306e\u6210\u9577\u6027\u3092\u307b\u3068\u3093\u3069\u8003\u616e\u3067\u304d\u306a\u3044<\/strong><\/li>\n<li><strong>\u4e00\u3064\u3072\u3068\u3064\u306e\u8cc7\u7523\u306e\u4fa1\u5024\u3092\u541f\u5473\u3059\u308b\u5fc5\u8981\u304c\u3042\u308b\u306e\u3067\u3001\u8a08\u7b97\u304c\u9762\u5012<\/strong><\/li>\n<\/ul>\n<\/div>\n<p>\u30b3\u30b9\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\u306f\u3001\u4e8b\u696d\u3092\u6e05\u7b97\u3059\u308b\u5834\u5408\u306b\u306f\u308f\u304b\u308a\u3084\u3059\u3044\u624b\u6cd5\u3068\u306a\u308a\u307e\u3059\u304c\u3001\u4e0a\u5834\u4f01\u696d\u306e\u8a55\u4fa1\u3084\u3001\u3053\u308c\u304b\u3089\u6210\u9577\u3057\u3066\u3044\u304f\u4f01\u696d\u306e\u8a55\u4fa1\u306b\u306f\u3042\u307e\u308a\u6d3b\u7528\u3055\u308c\u306a\u3044\u65b9\u6cd5\u3067\u3059\u3002<\/p>\n<h2>\u305d\u308c\u305e\u308c\u306e\u624b\u6cd5\u304c\u6c42\u3081\u3066\u3044\u308b\u3082\u306e\u306e\u9055\u3044\u3092\u56f3\u89e3<\/h2>\n<p>\u3053\u3053\u307e\u3067\u306e\u8a08\u7b97\u5f0f\u3092\u898b\u3066\u3082\u3089\u3046\u3068\u308f\u304b\u308b\u3088\u3046\u306b\u3001\u305d\u308c\u305e\u308c\u306e\u624b\u6cd5\u304c\u76f4\u63a5\u7684\u306b\u8a08\u7b97\u3067\u304d\u308b\u4fa1\u5024\u306f\u3001\u305d\u308c\u305e\u308c\u5fae\u5999\u306b\u9055\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u4e8b\u696d\u4fa1\u5024\u3001\u4f01\u696d\u4fa1\u5024\u3001\u682a\u4e3b\u4fa1\u5024\u306e\u95a2\u4fc2\u3092\u56f3\u89e3\u3057\u305f\u306e\u304c\u4ee5\u4e0b\u306e\u56f3\u3067\u3059\u3002<\/p>\n<img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-7823\" src=\"https:\/\/www.nsspirt-cashf2.com\/wp-content\/uploads\/2018\/09\/ev002.jpg\" alt=\"\u4f01\u696d\u4fa1\u5024\u3068\u682a\u4e3b\u4fa1\u5024\u3092\u56f3\u89e3\" width=\"600\" height=\"535\" \/>\n<p>\u3053\u3053\u306b\u3001\u3053\u306e\u8a18\u4e8b\u3067\u7d39\u4ecb\u3057\u305f\u5404\u624b\u6cd5\u304c\u4f55\u3092\u76f4\u63a5\u7684\u306b\u6c42\u3081\u3066\u3044\u308b\u306e\u304b\u3092\u793a\u3059\u3068\u4ee5\u4e0b\u306e\u3088\u3046\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-7832\" src=\"https:\/\/www.nsspirt-cashf2.com\/wp-content\/uploads\/2018\/09\/ev004.jpg\" alt=\"\u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\u3001\u30de\u30fc\u30b1\u30c3\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\u3001\u30b3\u30b9\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\u306e\u9055\u3044\u3092\u56f3\u89e3\" width=\"622\" height=\"631\" \/>\n<div id=\"nsspi-186024012\" class=\"nsspi-h2-4 nsspi-entity-placement\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block; text-align:center;\"\r\n     data-ad-layout=\"in-article\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-client=\"ca-pub-3661469849757690\"\r\n     data-ad-slot=\"6457306725\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><h2>\u307e\u3068\u3081<\/h2>\n<p>\u4ee5\u4e0a\u3001\u7406\u8ad6\u682a\u4fa1\u3001\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u306b\u3064\u3044\u3066\u306e\u89e3\u8aac\u3067\u3057\u305f\u3002<\/p>\n<div class=\"concept-box1\">\n<ul>\n<li>\u7406\u8ad6\u682a\u4fa1\u306e\u306e\u7b97\u5b9a\u65b9\u6cd5\u306b\u306f\u30013\u3064\u306e\u30a2\u30d7\u30ed\u30fc\u30c1\u3001\u300c\u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\u300d\u3001\u300c\u30de\u30fc\u30b1\u30c3\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\u300d\u3001\u300c\u30b3\u30b9\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\u300d\u304c\u3042\u308b\u3002<\/li>\n<li>\u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\u3067\u306f\u3001\u4e3b\u306b<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/dcf\/\">DCF\u6cd5<\/a>\u304c\u4f7f\u308f\u308c\u308b\u3002<\/li>\n<li>\u30de\u30fc\u30b1\u30c3\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\u3067\u306f\u3001\u4e3b\u306b<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/per\/\">PER<\/a>\u3001<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/pbr\/\">PBR<\/a>\u3001<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/ebitda\/\">EV\uff0fEBITDA\u500d\u7387<\/a>\u306a\u3069\u304c\u4f7f\u308f\u308c\u308b\u3002<\/li>\n<li>\u30b3\u30b9\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\u3067\u306f\u3001\u6642\u4fa1\u7d14\u8cc7\u7523\u6cd5\u304c\u4f7f\u308f\u308c\u308b<\/li>\n<li>\u3053\u308c\u3089\u306e\u30a2\u30d7\u30ed\u30fc\u30c1\u306f\u3001\u305d\u308c\u305e\u308c\u4e00\u9577\u4e00\u77ed\u3042\u308b\u306e\u3067\u3001\u305d\u308c\u305e\u308c\u306e\u7279\u5fb4\u3092\u7406\u89e3\u3057\u305f\u4e0a\u3067\u3001\u8907\u6570\u306e\u8996\u70b9\u3067\u8003\u3048\u308b\u3053\u3068\u304c\u91cd\u8981\u306b\u306a\u308b\u3002<\/li>\n<\/ul>\n<\/div>\n<p>\u306a\u304a\u3001\u4f01\u696d\u8cb7\u53ce\u306e\u5b9f\u52d9\u306b\u304a\u3044\u3066\u3001\u3053\u308c\u3089\u306e\u6307\u6a19\u304c\u3069\u306e\u3088\u3046\u306b\u4f7f\u308f\u308c\u308b\u306e\u304b\u3092\u4ee5\u4e0b\u306e\u30da\u30fc\u30b8\u3067\u89e3\u8aac\u3057\u3066\u3044\u308b\u306e\u3067\u3001\u3042\u308f\u305b\u3066\u3054\u89a7\u304f\u3060\u3055\u3044\u3002<\/p>\n<p>https:\/\/www.nsspirt-cashf2.com\/ba\/acquisition-price-determination-process\/<\/p>\n<p><a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/finance-index\/\"><strong>\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u77e5\u8b58\u306e\u7fd2\u5f97\u306b\u5f79\u7acb\u3064\u8a18\u4e8b\u306f\u3053\u3061\u3089\uff1e\uff1e\uff1e<\/strong><\/a><\/p>\n<p><strong>\u8ca1\u52d9\u30fb\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u3092\u3082\u3063\u3068\u77e5\u308b\u306b\u306f<\/strong><\/p>\n<p>https:\/\/www.nsspirt-cashf2.com\/ba\/books-for-finance\/<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u682a\u4fa1\u306e\u59a5\u5f53\u6027\u3092\u5224\u65ad\u3059\u308b\u969b\u306b\u7406\u8ad6\u682a\u4fa1\u3092\u53c2\u8003\u306b\u3057\u307e\u3059\u304c\u3001\u3053\u306e\u7406\u8ad6\u682a\u4fa1\u306b\u306f\u3044\u304f\u3064\u304b\u306e\u6c42\u3081\u65b9\u304c\u3042\u308a\u307e\u3059\u3002 \u3053\u306e\u8a18\u4e8b\u3067\u306f\u3001\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306e\u57fa\u790e\u77e5\u8b58\u3092\u4f7f\u3063\u305f\u4ee3\u8868\u7684\u306a\u7406\u8ad6\u682a\u4fa1\u306e\u7b97\u5b9a\u65b9\u6cd5\u3092\u89e3\u8aac\u3057\u3066\u3044\u304d\u307e\u3059\u3002 \uff08\u3061\u306a\u307f\u306b\u3001\u682a\u4fa1\u306e\u59a5\u5f53\u6027\u3092\u5224\u65ad<\/p>\n","protected":false},"author":1,"featured_media":1147,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jin_ogp_image_url":"","_jin_last_featured_id":0,"footnotes":""},"categories":[12],"tags":[],"class_list":["post-181","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"_links":{"self":[{"href":"https:\/\/www.nsspirt-cashf2.com\/ba\/wp-json\/wp\/v2\/posts\/181","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nsspirt-cashf2.com\/ba\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nsspirt-cashf2.com\/ba\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nsspirt-cashf2.com\/ba\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nsspirt-cashf2.com\/ba\/wp-json\/wp\/v2\/comments?post=181"}],"version-history":[{"count":0,"href":"https:\/\/www.nsspirt-cashf2.com\/ba\/wp-json\/wp\/v2\/posts\/181\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nsspirt-cashf2.com\/ba\/wp-json\/wp\/v2\/media\/1147"}],"wp:attachment":[{"href":"https:\/\/www.nsspirt-cashf2.com\/ba\/wp-json\/wp\/v2\/media?parent=181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nsspirt-cashf2.com\/ba\/wp-json\/wp\/v2\/categories?post=181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nsspirt-cashf2.com\/ba\/wp-json\/wp\/v2\/tags?post=181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}