{"id":259,"date":"2018-09-23T19:49:46","date_gmt":"2018-09-23T10:49:46","guid":{"rendered":"http:\/\/nsspirt-cashf2.com\/2018\/09\/23\/2018-09-23-194946\/"},"modified":"2023-09-25T14:16:04","modified_gmt":"2023-09-25T05:16:04","slug":"apv","status":"publish","type":"post","link":"https:\/\/www.nsspirt-cashf2.com\/ba\/apv\/","title":{"rendered":"APV\u6cd5\u3068\u306f\u3010WACC\u3092\u7528\u3044\u305fDCF\u6cd5\u3068\u306e\u9055\u3044\u3082\u89e3\u8aac\u3011"},"content":{"rendered":"<p>DCF\u6cd5\u3092\u4f7f\u3063\u305f\u4fa1\u5024\u8a08\u7b97\u306b\u304a\u3044\u3066\u5272\u5f15\u7387\u3068\u3057\u3066\u4f7f\u308f\u308c\u308b\u306e\u304cWACC\u3067\u3059\u304c\u3001<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/wacc-capm\/\">WACC\u306e\u8a18\u4e8b<\/a>\u3067\u3082\u89e3\u8aac\u3057\u305f\u3088\u3046\u306b\u3001\u8cc7\u672c\u69cb\u6210\u304c\u5b89\u5b9a\u3057\u3066\u3044\u308b\u3053\u3068\u304cWACC\u3092\u4f7f\u3046\u524d\u63d0\u306b\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u8a00\u3044\u63db\u3048\u308b\u3068\u3001\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u4e88\u6e2c\u671f\u9593\u4e2d\u306b\u8cc7\u672c\u69cb\u6210\u304c\u5927\u304d\u304f\u5909\u5316\u3059\u308b\u3088\u3046\u306a\u524d\u63d0\u304c\u3042\u308b\u5834\u5408\u3001\u305d\u308c\u306b\u4f34\u3046WACC\u306e\u5909\u5316\u3092\u8a08\u7b97\u3067\u304d\u306a\u3044\u306e\u3067\u3001DCF\u6cd5\u3067\u306e\u4fa1\u5024\u7b97\u5b9a\u306b\u306f\u3069\u3046\u3057\u3066\u3082\u9650\u754c\u304c\u751f\u3058\u3066\u3057\u307e\u3044\u307e\u3059\u3002<\/p>\n<p>\u305d\u3053\u3067\u767b\u5834\u3057\u305f<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/finance-index\/\">\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u7406\u8ad6<\/a>\u304cAPV\u6cd5\u3067\u3059\u3002<\/p>\n<p>APV\u6cd5\u3092\u4f7f\u3046\u3068\u3001\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u4e88\u6e2c\u6a5f\u95a2\u4e2d\u306b\u8cc7\u672c\u69cb\u6210\u304c\u5927\u304d\u304f\u5909\u5316\u3059\u308b\u5834\u5408\u3067\u3082\u3001\u9069\u5207\u306b\u6295\u8cc7\u5bfe\u8c61\u306e\u4fa1\u5024\u3092\u6c42\u3081\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/p>\n<p>\u3053\u306e\u8a18\u4e8b\u3067\u306f\u3001\u305d\u306eAPV\u6cd5\u306b\u3064\u3044\u3066\u89e3\u8aac\u3057\u3066\u3044\u304d\u307e\u3059\u3002<\/p>\n<div id=\"nsspi-1139202676\" 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>APV\u6cd5\u3068\u306f<\/h2>\n<p>APV\u6cd5\u3068\u306f\u3001\u5c06\u6765\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u304c\u7121\u501f\u91d1\u306e\u72b6\u614b\u3067\u5f97\u3089\u308c\u308b\u3068\u4eee\u5b9a\u3057\u3066\u3001\u73fe\u5728\u4fa1\u5024\u3092\u8a08\u7b97\u3057\u305f\u4e0a\u3067\u3001\u501f\u5165\u308c\u3092\u3059\u308b\u3053\u3068\u306b\u3088\u308b\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u5897\u52a0\u5206\uff08\u5229\u6255\u3044\u306b\u304b\u304b\u308b<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/tax-shield\/\">\u7bc0\u7a0e\u52b9\u679c<\/a>\uff09\u3092\u30d7\u30e9\u30b9\u3057\u3066\u4fa1\u5024\u7b97\u5b9a\u3059\u308b\u65b9\u6cd5\u3067\u3059\u3002<\/p>\n<p>https:\/\/www.nsspirt-cashf2.com\/ba\/tax-shield\/<\/p>\n<p><a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/dcf\/\">DCF\u6cd5<\/a>\u306e\u5834\u5408\u306f\u3001\u8ca0\u50b5\u306b\u3088\u308b\u7bc0\u7a0e\u52b9\u679c\u3092<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/wacc-capm\/\">WACC\uff08\u5272\u5f15\u7387\uff09<\/a>\u306b\u7e54\u308a\u8fbc\u3093\u3067\u8a08\u7b97\u3057\u307e\u3057\u305f\u304c\u3001APV\u6cd5\u3067\u306f\u3001\u7bc0\u7a0e\u52b9\u679c\u3060\u3051\u3092\u5f8c\u304b\u3089\u8db3\u3057\u5408\u308f\u305b\u3066\u8a08\u7b97\u3057\u3066\u3044\u304d\u307e\u3059\u3002<\/p>\n<img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-13295\" src=\"https:\/\/www.nsspirt-cashf2.com\/wp-content\/uploads\/2018\/09\/apv001.jpg\" alt=\"DCF\u6cd5\u3068APV\u6cd5\u306e\u9055\u3044\u3092\u56f3\u89e3\" width=\"714\" height=\"475\" \/>\n<h3>\u7121\u501f\u91d1\u3068\u4eee\u5b9a\u3057\u305f\u4e8b\u696d\u4fa1\u5024<\/h3>\n<p>\u5177\u4f53\u4f8b\u3068\u3057\u3066\u6b21\u306e\u3088\u3046\u306a\u4f8b\u3092\u60f3\u5b9a\u3057\u307e\u3059\u3002<\/p>\n<table bgcolor=\"#cccccc\">\n<tbody>\n<tr>\n<td bgcolor=\"#ffffff\" width=\"348\">\u6295\u8cc7\u984d\u3000\u3000100\u4e07\u5186<br \/>\n\u6295\u8cc7\u304b\u3089\u5f97\u3089\u308c\u308b\u6bce\u5e74\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3000\u300020\u4e07\u5186<br \/>\n\u5272\u5f15\u7387\u30007\uff05\uff08\u7121\u501f\u91d1\u6642\u306e\u5272\u5f15\u7387\uff09<br \/>\n\u4e88\u6e2c\u671f\u9593\u30007\u5e74<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table width=\"100%\" bgcolor=\"#cccccc\">\n<tbody>\n<tr>\n<td align=\"center\" valign=\"middle\" bgcolor=\"#666666\"><\/td>\n<td align=\"center\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">0\u5e74\u5f8c<\/span><\/td>\n<td align=\"center\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">1\u5e74\u5f8c<\/span><\/td>\n<td align=\"center\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">2\u5e74\u5f8c<\/span><\/td>\n<td align=\"center\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">3\u5e74\u5f8c<\/span><\/td>\n<td align=\"center\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">4\u5e74\u5f8c<\/span><\/td>\n<td align=\"center\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">5\u5e74\u5f8c<\/span><\/td>\n<td align=\"center\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">6\u5e74\u5f8c<\/span><\/td>\n<td align=\"center\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">7\u5e74\u5f8c<\/span><\/td>\n<\/tr>\n<tr>\n<td align=\"center\" valign=\"middle\" bgcolor=\"#666666\"><span style=\"color: #ffffff;\">\u6295\u8cc7\u984d<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">-100<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">&#8211;<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">&#8211;<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"font-family: '\uff2d\uff33 \u30b4\u30b7\u30c3\u30af'; color: #000000;\">&#8211;<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"font-family: '\uff2d\uff33 \u30b4\u30b7\u30c3\u30af'; color: #000000;\">&#8211;<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"font-family: '\uff2d\uff33 \u30b4\u30b7\u30c3\u30af'; color: #000000;\">&#8211;<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"font-family: '\uff2d\uff33 \u30b4\u30b7\u30c3\u30af'; color: #000000;\">&#8211;<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"font-family: '\uff2d\uff33 \u30b4\u30b7\u30c3\u30af'; color: #000000;\">&#8211;<\/span><\/td>\n<\/tr>\n<tr>\n<td align=\"center\" valign=\"middle\" bgcolor=\"#666666\"><span style=\"color: #ffffff;\">\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">&#8211;<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">20<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">20<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">20<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">20<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">20<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">20<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">20<\/span><\/td>\n<\/tr>\n<tr>\n<td align=\"center\" valign=\"middle\" bgcolor=\"#666666\"><span style=\"color: #ffffff;\">\u73fe\u4fa1\u4fc2\u6570<br \/>\n\uff08\u5272\u5f15\u738710\uff05\uff09<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">&#8211;<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">0.91<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">0.83<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">0.75<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">0.68<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">0.62<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">0.56<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">0.51<\/span><\/td>\n<\/tr>\n<tr>\n<td align=\"center\" valign=\"middle\" bgcolor=\"#666666\"><span style=\"color: #ffffff;\">PV<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">&#8211;<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">18.2<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">16.5<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">15.0<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">13.7<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">12.4<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">11.3<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">10.3<\/span><\/td>\n<\/tr>\n<tr>\n<td align=\"center\" valign=\"middle\" bgcolor=\"#666666\"><span style=\"color: #ffffff;\">NPV<\/span><\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\">-100<\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\">-81.8<\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\">-65.3<\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\">-50.3<\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\">-36.6<\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\">-24.2<\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\">-12.9<\/td>\n<td align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\">-2.6<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u3053\u306e\u524d\u63d0\u3067\u306f\u3001\u56de\u53ce\u671f\u9593\u306e7\u5e74\u3067NPV\u304c\u30de\u30a4\u30ca\u30b9\u306b\u306a\u3063\u3066\u3057\u307e\u3046\u306e\u3067\u3001\u6295\u8cc7\u4fa1\u5024\u306f\u306a\u3044\u3068\u3044\u3046\u5224\u65ad\u306b\u306a\u3063\u3066\u3057\u307e\u3044\u307e\u3059\u3002<\/p>\n<h4>\u7121\u501f\u91d1\u6642\u306e\u30d3\u30b8\u30cd\u30b9\u304b\u3089\u5f97\u3089\u308c\u308b\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306b\u5bfe\u3059\u308b\u5272\u5f15\u7387<\/h4>\n<p>\u7121\u501f\u91d1\u6642\u306f\u3001\u682a\u4e3b\u8cc7\u672c\u30b3\u30b9\u30c8\u306e\u307f\u304c\u304b\u304b\u308a\u307e\u3059\u3002\u3057\u304b\u3057\u3001\u03b2\u5024\u306f\u501f\u91d1\u304c\u3042\u308b\u3068\u304d\u3088\u308a\u306a\u3044\u3068\u304d\u306e\u65b9\u304c\u4f4e\u304f\u306a\u308b\u306e\u3067\u3001\u7121\u501f\u91d1\u6642\u306e\u5272\u5f15\u7387\u306f\u6b21\u306e\u3088\u3046\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<div class=\"simple-box1\">\n<p><strong>\u30ea\u30b9\u30af\u30d5\u30ea\u30fc\u30ec\u30fc\u30c8\u3000\uff0b\u3000\u03b2\uff08\u7121\u501f\u91d1\u6642\uff1c\u501f\u91d1\u304c\u3042\u308b\u3068\u304d\u306e\u03b2\uff09\u00d7\u30ea\u30b9\u30af\u30d7\u30ec\u30df\u30a2\u30e0<\/strong><\/p>\n<\/div>\n<p>\u3053\u306e\u5834\u5408\u306e\u03b2\u306f\u3001<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/finance-beta\/\">\u30a2\u30f3\u30ec\u30d0\u30fc\u30c9\u30d9\u30fc\u30bf<\/a>\u306a\u306e\u3067\u3001\u7121\u501f\u91d1\u6642\u306e\u5272\u5f15\u7387\u306f\u30d3\u30b8\u30cd\u30b9\u30ea\u30b9\u30af\u306e\u307f\u3092\u8868\u3057\u307e\u3059\u3002<\/p>\n<p>https:\/\/www.nsspirt-cashf2.com\/ba\/finance-beta\/<\/p>\n<h3>\u501f\u91d1\u3092\u3057\u305f\u3068\u304d\u306e\u7bc0\u7a0e\u52b9\u679c\u3092\u8a08\u7b97<\/h3>\n<p>\u4e0a\u3068\u540c\u3058\u524d\u63d0\u6761\u4ef6\u306b\u304a\u3044\u3066\u3001\u6295\u8cc7\u984d100\u4e07\u5186\u306e\u5168\u3066\u3092\u501f\u5165\u308c\u3067\u8cc4\u3063\u305f\u5834\u5408\u3001\u501f\u5165\u308c\u306b\u5bfe\u3057\u3066\u767a\u751f\u3059\u308b\u5229\u6255\u3044\u306e\u7bc0\u7a0e\u52b9\u679c\u3092\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3068\u3057\u3066\u30d7\u30e9\u30b9\u3059\u308b\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>\u501f\u5165\u91d1\u306f\u300110\u4e07\u5186\u305a\u3064\u8fd4\u6e08\u3055\u308c\u3066\u30017\u5e74\u5f8c\u306b\u6b8b\u308a\u3092\u5168\u984d\u8fd4\u6e08\u3059\u308b\u3068\u4eee\u5b9a\u3057\u307e\u3059\u3002\u3059\u308b\u3068\u3001\u5404\u5e74\u5ea6\u306b\u304a\u3051\u308b\u5229\u6255\u3044\u3068\u305d\u306e<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/tax-shield\/\">\u7bc0\u7a0e\u52b9\u679c<\/a>\u306f\u6b21\u306e\u3088\u3046\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<table style=\"height: 240px; width: 100%;\" width=\"100%\" bgcolor=\"#cccccc\">\n<tbody>\n<tr style=\"height: 24px;\">\n<td style=\"height: 24px;\" align=\"center\" valign=\"middle\" bgcolor=\"#666666\"><span style=\"color: #ffffff;\">\u00a0<\/span><\/td>\n<td style=\"height: 24px;\" align=\"center\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">1\u5e74\u5f8c<\/span><\/td>\n<td style=\"height: 24px;\" align=\"center\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">2\u5e74\u5f8c<\/span><\/td>\n<td style=\"height: 24px;\" align=\"center\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">3\u5e74\u5f8c<\/span><\/td>\n<td style=\"height: 24px;\" align=\"center\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">4\u5e74\u5f8c<\/span><\/td>\n<td style=\"height: 24px;\" align=\"center\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">5\u5e74\u5f8c<\/span><\/td>\n<td style=\"height: 24px;\" align=\"center\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">6\u5e74\u5f8c<\/span><\/td>\n<td style=\"height: 24px;\" align=\"center\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">7\u5e74\u5f8c<\/span><\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"height: 24px;\" align=\"center\" valign=\"middle\" bgcolor=\"#666666\"><span style=\"color: #ffffff;\">\u5e74\u521d\u501f\u5165\u91d1\u6b8b<\/span><\/td>\n<td style=\"height: 24px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">-100<\/span><\/td>\n<td style=\"height: 24px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">-90<\/span><\/td>\n<td style=\"height: 24px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">-80<\/span><\/td>\n<td style=\"height: 24px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">-70<\/span><\/td>\n<td style=\"height: 24px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">-60<\/span><\/td>\n<td style=\"height: 24px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">-50<\/span><\/td>\n<td style=\"height: 24px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">-40<\/span><\/td>\n<\/tr>\n<tr style=\"height: 48px;\">\n<td style=\"height: 48px;\" align=\"center\" valign=\"middle\" bgcolor=\"#666666\"><span style=\"color: #ffffff;\">\u5229\u5b50<br \/>\n\uff08\u91d1\u52294\uff05\uff09<\/span><\/td>\n<td style=\"height: 48px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">4.0<\/span><\/td>\n<td style=\"height: 48px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">3.6<\/span><\/td>\n<td style=\"height: 48px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">3.2<\/span><\/td>\n<td style=\"height: 48px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">2.8<\/span><\/td>\n<td style=\"height: 48px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">2.4<\/span><\/td>\n<td style=\"height: 48px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">2.0<\/span><\/td>\n<td style=\"height: 48px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">1.6<\/span><\/td>\n<\/tr>\n<tr style=\"height: 48px;\">\n<td style=\"height: 48px;\" align=\"center\" valign=\"middle\" bgcolor=\"#666666\"><span style=\"color: #ffffff;\">\u7bc0\u7a0e\u52b9\u679c<br \/>\n\uff08\u7a0e\u738740\uff05\uff09<\/span><\/td>\n<td style=\"height: 48px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">1.6<\/span><\/td>\n<td style=\"height: 48px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">1.4<\/span><\/td>\n<td style=\"height: 48px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">1.3<\/span><\/td>\n<td style=\"height: 48px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">1.1<\/span><\/td>\n<td style=\"height: 48px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">1.0<\/span><\/td>\n<td style=\"height: 48px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">0.8<\/span><\/td>\n<td style=\"height: 48px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">0.6<\/span><\/td>\n<\/tr>\n<tr style=\"height: 48px;\">\n<td style=\"height: 48px;\" align=\"center\" valign=\"middle\" bgcolor=\"#666666\"><span style=\"color: #ffffff;\">\u6e1b\u4fa1\u4fc2\u6570<br \/>\n\uff08\u5272\u5f15\u73874\uff05\uff09<\/span><\/td>\n<td style=\"height: 48px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">0.96<\/span><\/td>\n<td style=\"height: 48px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">0.92<\/span><\/td>\n<td style=\"height: 48px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">0.89<\/span><\/td>\n<td style=\"height: 48px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">0.85<\/span><\/td>\n<td style=\"height: 48px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">0.82<\/span><\/td>\n<td style=\"height: 48px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">0.79<\/span><\/td>\n<td style=\"height: 48px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">0.76<\/span><\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"height: 24px;\" align=\"center\" valign=\"middle\" bgcolor=\"#666666\"><span style=\"color: #ffffff;\">PV<\/span><\/td>\n<td style=\"height: 24px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">1.5<\/span><\/td>\n<td style=\"height: 24px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">1.3<\/span><\/td>\n<td style=\"height: 24px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">1.1<\/span><\/td>\n<td style=\"height: 24px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">1.0<\/span><\/td>\n<td style=\"height: 24px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">0.8<\/span><\/td>\n<td style=\"height: 24px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">0.6<\/span><\/td>\n<td style=\"height: 24px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\"><span style=\"color: #000000;\">0.5<\/span><\/td>\n<\/tr>\n<tr style=\"height: 24px;\">\n<td style=\"height: 24px;\" align=\"center\" valign=\"middle\" bgcolor=\"#666666\"><span style=\"color: #ffffff;\">NPV<\/span><\/td>\n<td style=\"height: 24px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\">1.5<\/td>\n<td style=\"height: 24px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\">2.9<\/td>\n<td style=\"height: 24px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\">4.0<\/td>\n<td style=\"height: 24px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\">5.0<\/td>\n<td style=\"height: 24px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\">5.8<\/td>\n<td style=\"height: 24px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\">6.4<\/td>\n<td style=\"height: 24px;\" align=\"right\" valign=\"middle\" bgcolor=\"#ffffff\">6.9<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\uff08\u5272\u5f15\u7387\u306b\u306f\u8ca0\u50b5\u30b3\u30b9\u30c84\uff05\u3092\u7528\u3044\u3066\u3044\u307e\u3059\uff09<\/p>\n<p>\u4ee5\u4e0a\u306e\u3088\u3046\u306b\u3001\u501f\u5165\u91d1\u306b\u3088\u308b\u7bc0\u7a0e\u52b9\u679c\u306e\u73fe\u5728\u4fa1\u5024\u306f6.9\u4e07\u5186\u3067\u3042\u308b\u3053\u3068\u304c\u308f\u304b\u308a\u307e\u3057\u305f\u3002<\/p>\n<h4>\u7bc0\u7a0e\u52b9\u679c\u306b\u5bfe\u3059\u308b\u5272\u5f15\u7387<\/h4>\n<p>\u4eca\u56de\u306e\u4f8b\u3067\u306f\u3001<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/tax-shield\/\">\u7bc0\u7a0e\u52b9\u679c<\/a>\u306b\u306f\u8ca0\u50b5\u30b3\u30b9\u30c8\u3092\u7528\u3044\u307e\u3057\u305f\u3002\u7bc0\u7a0e\u52b9\u679c\u304c\u8ca0\u50b5\u30b3\u30b9\u30c8\u306b\u3057\u304b\u4f9d\u5b58\u3057\u306a\u3044\u5834\u5408\u306f\u3001\u3053\u308c\u3067OK\u3067\u3059\u3002<\/p>\n<p>\u3057\u304b\u3057\u3001\u7bc0\u7a0e\u52b9\u679c\u306f\u5229\u76ca\u304c\u9ed2\u5b57\u306b\u306a\u3063\u3066\u521d\u3081\u3066\u4eab\u53d7\u3067\u304d\u308b\u52b9\u679c\u306a\u306e\u3067\u3001\u30d3\u30b8\u30cd\u30b9\u30ea\u30b9\u30af\u306b\u4f9d\u5b58\u3057\u3066\u3044\u308b\u3068\u898b\u308b\u3053\u3068\u3082\u3067\u304d\u307e\u3059\u3002<\/p>\n<p>\u3057\u305f\u304c\u3063\u3066\u3001\u9ed2\u5b57\u3092\u7d9a\u3051\u3089\u308c\u306a\u3044\u53ef\u80fd\u6027\u304c\u3042\u308b\u4f01\u696d\u306e\u3088\u3046\u306b\u3001\u7bc0\u7a0e\u52b9\u679c\u304c\u30d3\u30b8\u30cd\u30b9\u30ea\u30b9\u30af\u306b\u4f9d\u5b58\u3059\u308b\u53ef\u80fd\u6027\u304c\u9ad8\u3044\u5834\u5408\u306f\u3001\u30d3\u30b8\u30cd\u30b9\u304b\u3089\u5f97\u3089\u308c\u308b\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306b\u5bfe\u3059\u308b\u5272\u5f15\u7387\u3092\u7528\u3044\u307e\u3059\u3002<\/p>\n<p>\u91cd\u8981\u306a\u3053\u3068\u306f\u3001\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306b\u5bfe\u3059\u308b\u5272\u5f15\u7387\u306f\u3001\u305d\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u5f97\u308b\u305f\u3081\u306e\u30ea\u30b9\u30af\u306b\u4f9d\u5b58\u3059\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002<\/p>\n<h3>\u4e21\u8005\u306e\u73fe\u5728\u4fa1\u5024\u3092\u5358\u7d14\u5408\u7b97<\/h3>\n<p>\u3053\u3053\u307e\u3067\u7d50\u679c\u304b\u3089\u3001\u3053\u306e\u4e8b\u696d\u304b\u3089\u5f97\u3089\u308c\u308b\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u73fe\u5728\u4fa1\u5024\u306f\u3001\u7121\u501f\u91d1\u306e\u5834\u5408\u3067-2.6\u4e07\u5186\u3068\u306a\u308a\u3001\u4e8b\u696d\u306b\u5fc5\u8981\u306a\u6295\u8cc7\u984d\u3092\u5168\u3066\u501f\u5165\u308c\u3067\u8cc4\u3063\u305f\u5834\u5408\u306e\u7bc0\u7a0e\u52b9\u679c\u306e\u73fe\u5728\u4fa1\u5024\u306f\u30016.9\u4e07\u5186\u306b\u306a\u308b\u3053\u3068\u304c\u308f\u304b\u308a\u307e\u3057\u305f\u3002<\/p>\n<p>\u3057\u305f\u304c\u3063\u3066\u3001\u3053\u306e\u4e8b\u696d\u3092\u5168\u3066\u501f\u5165\u91d1\u3067\u8cc4\u3063\u305f\u5834\u5408\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u73fe\u5728\u4fa1\u5024\u306f\u3001\u4e21\u8005\u3092\u5408\u7b97\u3057\u3066\u30014.3\u4e07\u5186\u306b\u306a\u308a\u307e\u3059\u3002\u3064\u307e\u308a\u3001\u501f\u5165\u91d1\u3092\u4f7f\u3063\u3066\u6295\u8cc7\u3092\u3059\u308c\u3070\u3001\u3053\u306e\u4e8b\u696d\u306f\u63a1\u7b97\u304c\u53d6\u308c\u308b\u3068\u3044\u3046\u3053\u3068\u3092\u610f\u5473\u3057\u307e\u3059\u3002<\/p>\n<h2>APV\u6cd5\u3092\u4f7f\u3046\u30e1\u30ea\u30c3\u30c8<\/h2>\n<p>APV\u6cd5\u306b\u306f\u6b21\u306e\u3088\u3046\u306a\u30e1\u30ea\u30c3\u30c8\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<h3>\u8cc7\u672c\u69cb\u6210\u304c\u5927\u304d\u304f\u5909\u5316\u3057\u3066\u3082\u8a08\u7b97\u53ef\u80fd<\/h3>\n<p>\u8ca0\u50b5\u306e\u8981\u7d20\u3092\u5207\u308a\u5206\u3051\u3066\u8003\u3048\u3089\u308c\u308b\u306e\u3067\u3001\u8cc7\u672c\u69cb\u6210\u304c\u5927\u304d\u304f\u5909\u5316\u3059\u308b\u3088\u3046\u306a\u6295\u8cc7\u6848\u4ef6\uff08\u305f\u3068\u3048\u3070<a href=\"https:\/\/www.nsspirt-cashf2.com\/ba\/lbo-mbo\/\">LBO<\/a>\u3084\u4e8b\u696d\u518d\u751f\u5834\u9762\uff09\u3067\u3088\u304f\u7528\u3044\u3089\u308c\u307e\u3059\u3002<\/p>\n<p>https:\/\/www.nsspirt-cashf2.com\/ba\/lbo-mbo\/<\/p>\n<p>WACC<span style=\"font-size: 1em; letter-spacing: 0.05em;\">\u3092\u4f7f\u3046\u5834\u5408\u3067\u3082\u3001\u8cc7\u672c\u69cb\u6210\u304c\u5909\u308f\u308b\u3054\u3068\u306b\u3001WACC\u306e\u5024\u3092\u5909\u3048\u308b\u3053\u3068\u3067\u8cc7\u672c\u69cb\u6210\u306e\u5909\u5316\u306b\u5bfe\u5fdc\u3067\u304d\u307e\u3059\u304c\u3001\u4e0d\u78ba\u5b9f\u6027\u306e\u9ad8\u3044\u3001\u5c06\u6765\u306e\u6642\u4fa1\u7dcf\u984d\u3092\u6c42\u3081\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3068\u3044\u3046\u30c7\u30e1\u30ea\u30c3\u30c8\u304c\u3042\u308a\u307e\u3059\u3002<\/span><\/p>\n<h3>\u8981\u7d20\u3054\u3068\u306b\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306b\u4e0e\u3048\u308b\u5f71\u97ff\u3092\u541f\u5473\u3067\u304d\u308b<\/h3>\n<p>APV\u6cd5\u306f\u3001\u4e8b\u696d\u4fa1\u5024\u3068\u7bc0\u7a0e\u52b9\u679c\u3068\u3044\u3046\u8981\u7d20\u306b\u5207\u308a\u5206\u3051\u3066\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u8003\u3048\u308b\u306e\u3067\u3001\u5404\u8981\u7d20\u304c\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306b\u4e0e\u3048\u308b\u5f71\u97ff\u3092\u500b\u5225\u306b\u8b70\u8ad6\u3067\u304d\u308b\u30e1\u30ea\u30c3\u30c8\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n<div id=\"nsspi-873689532\" 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>APV\u6cd5\u306e\u8ab2\u984c<\/h2>\n<p>APV\u6cd5\u306b\u306f\u4ee5\u4e0b\u306e\u8ab2\u984c\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<h3>\u501f\u5165\u91d1\u3092\u5897\u3084\u3059\u3053\u3068\u306b\u3088\u308b\u8ca1\u52d9\u30ea\u30b9\u30af\u3092\u52a0\u5473\u3067\u304d\u306a\u3044<\/h3>\n<p>APV\u6cd5\u3067\u306f\u3001\u501f\u5165\u91d1\u3092\u5897\u3084\u3059\u3053\u3068\u306b\u3088\u308b\u7bc0\u7a0e\u52b9\u679c\u3092\u7b97\u5b9a\u3067\u304d\u307e\u3059\u304c\u3001\u501f\u5165\u91d1\u3092\u5897\u3084\u3059\u3053\u3068\u3067\u4e0a\u304c\u308b\u8ca1\u52d9\u30ea\u30b9\u30af\uff08\u8cc7\u672c\u69cb\u6210\u3001\u501f\u5165\u91d1\u6bd4\u7387\uff09\u3092\u52a0\u5473\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u305b\u3093\u3002<\/p>\n<p>WACC\u306f\u3001\u501f\u5165\u91d1\u306e\u6bd4\u7387\u304c\u5897\u3048\u308b\u3068\u03b2\u5024\uff08\u30ec\u30d0\u30fc\u30c9\u03b2\uff09\u304c\u4e0a\u304c\u308b\u306e\u3067\u3001\u8ca1\u52d9\u30ea\u30b9\u30af\u304c\u52a0\u5473\u3055\u308c\u305f\u6307\u6a19\u306b\u306a\u3063\u3066\u3044\u307e\u3059\u3002\u3057\u304b\u3057\u3001APV\u6cd5\u3067\u7528\u3044\u308b\u03b2\u5024\u306f\u3001\u30a2\u30f3\u30ec\u30fc\u30d0\u30fc\u30c9\u03b2\u3001\u3059\u306a\u308f\u3061\u30d3\u30b8\u30cd\u30b9\u30ea\u30b9\u30af\u3060\u3051\u3092\u62bd\u51fa\u3057\u305f\u5024\u306a\u306e\u3067\u8cc7\u672c\u69cb\u6210\u3092\u52a0\u5473\u3057\u3067\u304d\u3066\u3044\u307e\u305b\u3093\u3002<\/p>\n<p>\u305d\u306e\u305f\u3081\u3001\u666e\u901a\u306bAPV\u6cd5\u3092\u4f7f\u3046\u5834\u5408\u306f\u3001\u501f\u5165\u91d1\u304c\u305d\u306e\u4f1a\u793e\u306e\u8ca1\u52d9\u30ea\u30b9\u30af\u3092\u8105\u304b\u3059\u9818\u57df\u306b\u306f\u306a\u3044\u3068\u3044\u3046\u524d\u63d0\u3092\u7f6e\u304f\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>\u3082\u3057\u304f\u306f\u3001APV\u6cd5\u3092\u6b21\u306e\u3088\u3046\u306b\u30a2\u30ec\u30f3\u30b8\u3057\u3066NPV\uff08\u3082\u3057\u304f\u306f\u4e8b\u696d\u4fa1\u5024\uff09\u3092\u6c42\u3081\u3066\u3082\u3088\u3044\u3067\u3057\u3087\u3046\u3002<\/p>\n<div class=\"simple-box1\">\n<p><strong>NPV\uff08\u4e8b\u696d\u4fa1\u5024\uff09<\/strong><\/p>\n<p><strong>\uff1d\u3000\u7121\u501f\u91d1\u306e\u5834\u5408\u306eNPV\uff08\u4e8b\u696d\u4fa1\u5024\uff09\u3000\uff0b\u3000\u7bc0\u7a0e\u52b9\u679c\u3000\uff0d\u3000\u8ca1\u52d9\u30ea\u30b9\u30af\uff08WACC\u306e\u03b2\u306b\u76f8\u5f53\u3059\u308b\u30ea\u30b9\u30af\u6307\u6a19\uff09<\/strong><\/p>\n<\/div>\n<div id=\"nsspi-465486736\" 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\u304cAPV\u6cd5\u306e\u89e3\u8aac\u3067\u3057\u305f\u3002<\/p>\n<div class=\"concept-box1\">\n<ul>\n<li>APV\u6cd5\u3068\u306f\u7121\u501f\u91d1\u72b6\u614b\u3068\u4eee\u5b9a\u3057\u305f\u4f01\u696d\u4fa1\u5024\u3068\u501f\u91d1\u306b\u3088\u308b\u4f01\u696d\u4fa1\u5024\u3078\u306e\u5f71\u97ff\u3092\u5206\u3051\u3066NPV\u3092\u8a08\u7b97\u3059\u308b\u624b\u6cd5\u306e\u3053\u3068<\/li>\n<li>APV\u6cd5\u3092\u4f7f\u3046\u3068\u3001WACC\u6cd5\u3067\u306f\u6271\u3044\u304c\u96e3\u3057\u3044\u4e88\u6e2c\u671f\u9593\u4e2d\u306e\u8cc7\u672c\u69cb\u6210\u306e\u5909\u66f4\u306b\u5bfe\u5fdc\u3067\u304d\u308b<\/li>\n<li>\u305f\u3060\u3057\u3001\u8a08\u7b97\u3067\u304d\u308b\u306e\u306f\u7bc0\u7a0e\u52b9\u679c\u3060\u3051\u3067\u3001\u501f\u91d1\u306e\u6bd4\u7387\u304c\u5927\u304d\u3044\u3068\u304d\u306e\u8ca1\u52d9\u30ea\u30b9\u30af\u307e\u3067\u306f\u52a0\u5473\u3067\u304d\u306a\u3044<\/li>\n<\/ul>\n<\/div>\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>DCF\u6cd5\u3092\u4f7f\u3063\u305f\u4fa1\u5024\u8a08\u7b97\u306b\u304a\u3044\u3066\u5272\u5f15\u7387\u3068\u3057\u3066\u4f7f\u308f\u308c\u308b\u306e\u304cWACC\u3067\u3059\u304c\u3001WACC\u306e\u8a18\u4e8b\u3067\u3082\u89e3\u8aac\u3057\u305f\u3088\u3046\u306b\u3001\u8cc7\u672c\u69cb\u6210\u304c\u5b89\u5b9a\u3057\u3066\u3044\u308b\u3053\u3068\u304cWACC\u3092\u4f7f\u3046\u524d\u63d0\u306b\u306a\u3063\u3066\u3044\u307e\u3059\u3002 \u8a00\u3044\u63db\u3048\u308b\u3068\u3001\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u4e88\u6e2c\u671f\u9593\u4e2d\u306b\u8cc7\u672c\u69cb<\/p>\n","protected":false},"author":1,"featured_media":10419,"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-259","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\/259","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=259"}],"version-history":[{"count":0,"href":"https:\/\/www.nsspirt-cashf2.com\/ba\/wp-json\/wp\/v2\/posts\/259\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nsspirt-cashf2.com\/ba\/wp-json\/wp\/v2\/media\/10419"}],"wp:attachment":[{"href":"https:\/\/www.nsspirt-cashf2.com\/ba\/wp-json\/wp\/v2\/media?parent=259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nsspirt-cashf2.com\/ba\/wp-json\/wp\/v2\/categories?post=259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nsspirt-cashf2.com\/ba\/wp-json\/wp\/v2\/tags?post=259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}