{"id":38516,"date":"2012-07-16T12:00:36","date_gmt":"2012-07-16T03:00:36","guid":{"rendered":"http:\/\/rmc-oden.com\/blog\/?p=38516"},"modified":"2012-07-16T11:06:22","modified_gmt":"2012-07-16T02:06:22","slug":"%e3%80%90%e8%b2%a1%e5%8b%99%e3%83%bb%e4%bc%9a%e8%a8%88%e3%80%91%e3%82%b9%e3%82%bf%e3%83%a1%e3%83%b3%e3%82%a4%e3%83%ac%e3%83%96%e3%83%b3%e3%81%a7%e3%82%b4%e3%83%bc%e3%83%ab%e3%82%92%e7%9b%ae%e6%8c%87","status":"publish","type":"post","link":"https:\/\/rmc-oden.com\/blog\/archives\/38516","title":{"rendered":"\u3010\u8ca1\u52d9\u30fb\u4f1a\u8a08\u3011\u30b9\u30bf\u30e1\u30f3\u30a4\u30ec\u30d6\u30f3\u3067GET GOAL\uff01"},"content":{"rendered":"

\u96e3\u3057\u3044\u72b6\u6cc1\u306b\u9665\u3063\u3066\u3044\u308b\u4eba\u306f\u3001\u81ea\u3089\u304c\u72b6\u6cc1\u3092\u96e3\u3057\u304f\u3057\u3066\u3044\u308b\u306e\u3060\u3068\u601d\u3063\u305f\u307b\u3046\u304c\u3044\u3044\u3002\u3059\u3079\u3066\u3092\u900f\u660e\u306b\u3057\u3001\u5206\u304b\u308a\u3084\u3059\u304f\u30b7\u30f3\u30d7\u30eb\u306b\u8003\u3048\u308b\u3053\u3068\u3060\u3002<\/span><\/strong>
\n\uff08\u30a4\u30d3\u30c1\u30e3\u30fb\u30aa\u30b7\u30e0\uff09<\/span><\/p>\n

\u307f\u306a\u3055\u3093\u3001\u3053\u3093\u306b\u3061\u306f\uff01\u3046\u3061\u3042\u30fc\u306e<\/a>\u3067\u3059\u3002<\/p>\n

\u5148\u9031\u91d1\u66dc\u65e5\u306b\u4e2d\u5c0f\u4f01\u696d\u8a3a\u65ad\u5354\u4f1a\u3088\u308a\u5e73\u621024\u5e74\u5ea6\u4e2d\u5c0f\u4f01\u696d\u8a3a\u65ad\u58eb\u7b2c\uff11\u6b21\u8a66\u9a13\u306e\u53d7\u9a13\u7968\u30fb\u5199\u771f\u7968<\/a>\u304c\u767a\u9001\u3055\u308c\u307e\u3057\u305f\u3002\u65e2\u306b\u304a\u624b\u5143\u306b\u5c4a\u3044\u3066\u3044\u308b\u65b9\u3082\u591a\u3044\u3088\u3046\u3067\u3059\u306d\u3002\u79c1\u3082\u53bb\u5e74\u53d7\u9a13\u7968\u304c\u5c4a\u3044\u305f\u6642\u306b\u306f\u3044\u3088\u3044\u3088\u8feb\u308a\u304f\u308b\u590f\u306e\u9663<\/span>\u306b\u80f8\u3092\u9ad8\u9cf4\u3089\u305b\u305f\u899a\u3048\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n

\u4f55\u306f\u3068\u3082\u3042\u308c\u3001\u307e\u305a\u306f\u8a18\u8f09\u5185\u5bb9\u306b\u8aa4\u308a\u304c\u306a\u3044\u304b<\/span>\u3092\u5ff5\u306e\u305f\u3081\u30c1\u30a7\u30c3\u30af\u3002\u305d\u308c\u304b\u3089\u53d7\u9a13\u4f1a\u5834\u3092\u78ba\u8a8d<\/span>\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n

\u53d7\u9a13\u4f1a\u5834\u3092\u78ba\u8a8d\u3057\u305f\u3089\u3001\u65e9\u901f\u4e0b\u898b<\/span>\u306e\u8a08\u753b\u3092\u7acb\u3066\u307e\u3057\u3087\u3046\u3002\u4ee5\u4e0b\u3001\u4e0b\u898b\u306e\u30c1\u30a7\u30c3\u30af\u30dd\u30a4\u30f3\u30c8\u3092\u7c21\u5358\u306b\u7e8f\u3081\u3066\u304a\u304d\u307e\u3059\u3002<\/p>\n

<\/strong>1.\u81ea\u5b85\u21d2\u53d7\u9a13\u4f1a\u5834\u306e\u4ea4\u901a\u6a5f\u95a2\u7d4c\u8def\u30fb\u6240\u8981\u6642\u9593\u306e\u78ba\u8a8d<\/strong><\/span>
\n\u30fb\u5fc5\u305a\u571f\u65e5\u306e\u6642\u523b\u8868<\/span>\u3067\u78ba\u8a8d\u3059\u308b\u3053\u3068\u3002
\n\u30fb\u9031\u672b\u306b\u672c\u8a66\u9a13\u306e\u6642\u9593\u306b\u5408\u308f\u305b\u3066<\/span>\u4f1a\u5834\u306b\u5411\u304b\u3063\u3066\u307f\u308b\u306e\u3082\u3088\u3044\u3067\u3057\u3087\u3046\u3002
\n\u30fb\u53d7\u9a13\u4f1a\u5834\u304c\u9060\u304b\u3063\u305f\u308a\u3001\u4ea4\u901a\u306e\u4fbf\u304c\u60aa\u3051\u308c\u3070\u30db\u30c6\u30eb\u306e\u624b\u914d\u3082\u691c\u8a0e<\/span>\u3059\u308b\u3002<\/p>\n

<\/strong>2.\u4f1a\u5834\u5468\u8fba\u306e\u78ba\u8a8d<\/strong><\/span>
\n\u30fb\u6700\u5bc4\u99c5\u304b\u3089\u4f1a\u5834\u307e\u3067\u5b9f\u969b\u306b\u6b69\u3044\u3066\u307f\u308b<\/span>\u3002\u8ddd\u96e2\u304c\u3042\u308b\u5834\u5408\u306b\u306f\u30bf\u30af\u30b7\u30fc\u4e57\u308a\u5834\u3082\u78ba\u8a8d\u3057\u3066\u304a\u304f\u3002
\n\u30fb\u5f53\u65e5\u98f2\u307f\u7269\u3084\u663c\u3054\u306f\u3093\u3092\u8cb7\u3048\u308b\u30b3\u30f3\u30d3\u30cb<\/span>\u306a\u3069\u304c\u3042\u308b\u304b\u3002
\n\u30fb\u514d\u9664\u79d1\u76ee\u304c\u3042\u308b\u65b9\u306f\u7a7a\u304d\u6642\u9593\u3092\u904e\u3054\u305b\u308b\u30d5\u30a1\u30df\u30ec\u30b9\u3084\u30ab\u30d5\u30a7<\/span>\u306a\u3069\u304c\u3042\u308b\u304b\u3002<\/p>\n

<\/strong>3.\u4f1a\u5834\u5185\u306e\u78ba\u8a8d<\/strong><\/span>
\n\u8a3a\u65ad\u5354\u4f1a\u306eHP\u306a\u3069\u3067\u300c\u8a66\u9a13\u4f1a\u5834\u5185\u306e\u4e0b\u898b\u306f\u53b3\u7981\u300d\u3068\u5f37\u8abf\u3055\u308c\u3066\u3044\u308b\u306e\u3067\u6ce8\u610f\u304c\u5fc5\u8981\u3067\u3059\u3002\u300c\u8a66\u9a13\u4f1a\u5834\u5185\u300d\u304c\u300c\u6559\u5ba4\u5185\u300d\u306a\u306e\u304b\u3001\u300c\u5efa\u7269\u5185\u300d\u306a\u306e\u304b\u3001\u300c\u6577\u5730\u5185\u300d\u306a\u306e\u304b\u660e\u8a18\u306f\u3042\u308a\u307e\u305b\u3093\u304c\u3001\u3044\u305a\u308c\u306b\u305b\u3088\u53d7\u9a13\u5834\u6240\u3092\u63d0\u4f9b\u3057\u3066\u9802\u3044\u3066\u3044\u308b\u4f1a\u5834\u306e\u6240\u6709\u8005\u3084\u5229\u7528\u8005\u306b\u8ff7\u60d1\u3092\u304b\u3051\u306a\u3044\u3088\u3046\u306b<\/span>\u3057\u307e\u3057\u3087\u3046\u3002
\n\u304b\u304f\u3044\u3046\u79c1\u306f\u53d7\u9a13\u4f1a\u5834\u304c\u5927\u5b66\u3060\u3063\u305f\u306e\u3067\u3001\u5b66\u751f\u306b\u4ea4\u3058\u3063\u3066\u30ad\u30e3\u30f3\u30d1\u30b9\u5185\u307e\u3067\u5165\u3063\u3066\u30c8\u30a4\u30ec\u3084\u4f11\u61a9\u3059\u308b\u5834\u6240\u3001\u5efa\u7269\u306e\u8a2d\u5099\u74b0\u5883\uff08\u7a7a\u8abf\u306a\u3069\uff09\u3092\u78ba\u8a8d\u3057\u3061\u3083\u3044\u307e\u3057\u305f\u3051\u3069\u3002<\/span>
\n\u5927\u5b66\u306e\u5834\u5408\u3001\u672c\u8a66\u9a13\u306f\u590f\u4f11\u307f\u671f\u9593\u4e2d\u306b\u306a\u308b\u305f\u3081\u3001\u69cb\u5185\u3067\u5de5\u4e8b\u3092\u3057\u3066\u3044\u308b\u3068\u3053\u308d\u3082\u3042\u308a\u307e\u3059\u3002\u305d\u306e\u5834\u5408\u306f\u9a12\u97f3<\/span>\u306a\u3069\u3082\u6c17\u306b\u306a\u308a\u307e\u3059\u3002\u53d7\u9a13\u751f\u306b\u3068\u3063\u3066\u306f\u5e74\u306b1\u5ea6\u306e\u8a66\u9a13\u3067\u3059\u304c\u3001\u5de5\u4e8b\u3057\u3066\u3044\u308b\u65b9\u306f\u305d\u3093\u306a\u3053\u3068\u304a\u69cb\u3044\u7121\u3057\u3002\u5927\u97f3\u91cf\u3067\u5de5\u4e8b\u3057\u3066\u3044\u308b\u3053\u3068\u3082\u3042\u308a\u3048\u307e\u3059\u3002\uff08\u5b9f\u969b\u3001\u53bb\u5e74\u306e\u6771\u6d0b\u5927\u5b66\u3001\u4e00\u6628\u5e74\u306e\u7acb\u6559\u5927\u5b66\u3067\u5de5\u4e8b\u3057\u3066\u3044\u307e\u3057\u305f\u3002\uff09\u8a66\u9a13\u6848\u5185\u3067\u300c\u8a66\u9a13\u6642\u9593\u4e2d\u306e\u6ce8\u610f\u300d\u3068\u3057\u3066\u8033\u6813\u306e\u4f7f\u7528\u306f\u3067\u304d\u306a\u3044<\/span>\u3053\u3068\u306b\u306a\u3063\u3066\u3044\u308b\u306e\u3067\u3001\u5bfe\u7b56\u3068\u3057\u3066\u306f\u9a12\u97f3\u304c\u3042\u308b\u74b0\u5883\u306e\u4e2d\u3067\u30bb\u30eb\u30d5\u6a21\u8a66\u3092\u5b9f\u65bd\u3057\u6163\u308c\u3066\u304a\u304f<\/span>\u3001\u306a\u3069\u304c\u8003\u3048\u3089\u308c\u307e\u3059\u3002<\/p>\n

\u3068\u306b\u304b\u304f\u4e0b\u898b\u306f\u3068\u3066\u3082\u91cd\u8981\u3067\u3059\u3002\u4f1a\u5834\u5185\u307e\u3067\u5165\u308c\u306a\u304f\u3066\u3082\u3001\u4e8b\u524d\u306b\u590f\u306e\u9663\u306e\u6226\u5730\u3092\u8a2a\u308c\u3066\u304a\u3051\u3070\u591a\u5c11\u306a\u308a\u3068\u3082\u30a2\u30a6\u30a7\u30a4\u611f\u304c\u8584\u308c<\/span>\u3001\u672c\u8a66\u9a13\u3067\u7cbe\u795e\u7684\u306a\u3086\u3068\u308a<\/span>\u304c\u751f\u307e\u308c\u307e\u3059\u3088\u3002<\/p>\n

====<\/p>\n

\u3055\u3066\u3001\u3053\u3053\u304b\u3089\u304c\u672c\u984c<\/span>\u3002
\n\u5148\u9031\u304b\u3089\u59cb\u307e\u3063\u305f\u3010\u8d85\u76f4\u524d\u79d1\u76ee\u5225\u7dcf\u307e\u3068\u3081\u3011\u30b7\u30ea\u30fc\u30ba\u3002
\n\u4eca\u65e5\u306f\u8ca1\u52d9\u30fb\u4f1a\u8a08<\/span>\u306b\u3064\u3044\u3066\u306e\u8a18\u4e8b\u3067\u3059\u3002<\/p>\n

\u8ca1\u52d9\u30fb\u4f1a\u8a08\u306f\u5f97\u624b\u3001\u4e0d\u5f97\u624b\u304c\u5927\u304d\u304f\u5206\u304b\u308c\u308b\u79d1\u76ee\u3067\u3059\u3002
\n\u5f97\u610f\u306a\u65b9\u306f\u78ba\u5b9f\u306b15\u554f\uff0860\u70b9\uff09<\/span>\u3092\u7372\u308a\u3001\u96e3\u6613\u5ea6\u306b\u3088\u3063\u30661\u554f\uff084\u70b9\uff09\u3067\u3082\u591a\u304f\u8caf\u91d1\u3092\u7a4d\u307f\u4e0a\u3052\u308b<\/span>\u3053\u3068\u304c\u76ee\u6a19\u3067\u3059\u306d\u3002
\n\u82e6\u624b\u306a\u65b9\u306f\u307e\u305a\u3057\u3063\u304b\u308a\u306810\u554f\uff0840\u70b9\uff09\u8d85\u3048<\/span>\u3067\u8db3\u5207\u308a\u56de\u907f\u304c\u6700\u4f4e\u9650\u306e\u76ee\u6a19\u3068\u306a\u308a\u307e\u3059\u306d\u3002
\n\u305d\u306e\u76ee\u6a19\u3001\u30b4\u30fc\u30eb\u3092\u9054\u6210\u3059\u308b\u305f\u3081\u306b\u672c\u8a66\u9a13\u307e\u3067\u3042\u306819\u65e5<\/span>\u3068\u8feb\u3063\u305f\u4eca\u3001\u4f55\u3092\u3059\u3079\u304d\u304b\u3002
\n\u30b4\u30fc\u30eb\u3092\u9054\u6210\u3059\u308b\u6700\u3082\u7c21\u5358\u30fb\u78ba\u5b9f\u306a\u65b9\u6cd5\u306f\u300c\u8a66\u9a13\u306b\u51fa\u308b\u3068\u3053\u308d\u300d\u3092\u5fb9\u5e95\u7684\u306b\u7406\u89e3\u3057\u3001\u96c6\u4e2d\u7684\u306b\u7df4\u7fd2\u3057\u3066\u304a\u304f\u3053\u3068\u3067\u3059\u3002
\n\u3053\u3053\u3067\u306f\u904e\u53bb\u554f\u3067\u307b\u307c\u6bce\u5e74\u306e\u3088\u3046\u306b\u51fa\u984c\u3055\u308c\u3066\u3044\u308b\u983b\u51fa\u8ad6\u70b9\u3092\u3001\u79c1\u304c\u611b\u3059\u308b\u30b5\u30c3\u30ab\u30fc\u306b\u306a\u305e\u3089\u3048\u3066\u52dd\u624b\u306b11<\/span>\u9078\u51fa\u3057\u3001\u51fa\u984c\u30d1\u30bf\u30fc\u30f3\u3084\u5178\u578b\u7684\u306a\u89e3\u6cd5\u30fb\u5fc5\u8981\u3068\u3055\u308c\u308b\u77e5\u8b58<\/span>\u3092\u7b87\u6761\u66f8\u304d\u3067\u7e8f\u3081\u3066\u307f\u307e\u3057\u305f\u3002
\n\u3053\u308c\u3089\u30a4\u30ec\u30d6\u30f3\u306f\u8ca1\u52d9\u30fb\u4f1a\u8a08\u672c\u8a66\u9a13\u306b\u304a\u3051\u308b\u30b9\u30bf\u30e1\u30f3<\/span>\u3067\u3059\u3002\u305d\u3057\u3066\u3001\u3042\u306a\u305f\u306f\u76e3\u7763\u3068\u3057\u3066\u5f7c\u3089\u3092\u3046\u307e\u304f\u64cd\u308b\u3053\u3068\u3067\u4f1a\u5fc3\u306e\u30b4\u30fc\u30eb<\/span>\u3092\u72d9\u3044\u307e\u3059\u3002<\/p>\n

\"\"<\/a><\/p>\n

<\/strong>1.\u7d4c\u55b6\u5206\u6790<\/strong><\/span>
\n\u30fb\u5206\u6790\u6307\u6a19\u306e\u8a08\u7b97\u3068\u826f\u5426\u5224\u65ad\u3092\u554f\u3046\u554f\u984c\u304c\u4e2d\u5fc3\u3002
\n\u30fb\u53c2\u8003\u8a18\u4e8b\u306f\u3053\u3061\u3089<\/a>\u3002
\n\u30fb\u6307\u6a19\u306e\u7b97\u51fa\u5f0f\u3092\u899a\u3048\u308b\u3060\u3051\u3067\u78ba\u5b9f\u306b\u5f97\u70b9\u3067\u304d\u308b\u3002
\n\u30fb\u826f\u5426\u5224\u65ad\u306e\u307f\u306a\u3089\u3070\u3001\u5206\u6bcd\u3068\u5206\u5b50\u306e\u3044\u305a\u308c\u304b\u304c\u540c\u3058\u3067\u6570\u5024\u307e\u3067\u8a08\u7b97\u3057\u306a\u304f\u3066\u3082\u3088\u3044\u5834\u5408\u3082\u591a\u3044\u3002
\n\u30fb\u53ce\u76ca\u6027\uff1a\u5229\u76ca\u7387\u306f\u3059\u3079\u3066\u6570\u5b57\u304c\u5927\u304d\u3044\u65b9\u304c\u826f\u3002\u539f\u4fa1\u7387\u306f\u3059\u3079\u3066\u6570\u5b57\u304c\u5927\u304d\u3044\u65b9\u304c\u60aa\u3002
\n\u30fb\u52b9\u7387\u6027\uff1a\u56de\u8ee2\u7387\u306f\u3059\u3079\u3066\u6570\u5b57\u306e\u5927\u304d\u3044\u65b9\u304c\u826f\u3002\u56de\u8ee2\u671f\u9593\u306f\u3059\u3079\u3066\u6570\u5b57\u306e\u5927\u304d\u3044\u65b9\u304c\u60aa\u3002
\n\u30fb\u5b89\u5168\u6027\uff1a\u6d41\u52d5\u6bd4\u7387\u3068\u5f53\u5ea7\u6bd4\u7387\u3001\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u306f\u6570\u5b57\u306e\u5927\u304d\u3044\u65b9\u304c\u826f\u3002
\n\u56fa\u5b9a\u6bd4\u7387\u3068\u56fa\u5b9a\u9577\u671f\u9069\u5408\u7387\u3001\u8ca0\u50b5\u6bd4\u7387\u306f\u6570\u5b57\u306e\u5c0f\u3055\u3044\u65b9\u304c\u826f\u3002
\n\uff08\u826f\u5426\u5224\u65ad\u306f\u3042\u304f\u307e\u3067\u3082\u8a66\u9a13\u5bfe\u7b56\u4e0a\u306e\u8a71\u3067\u3059\uff09<\/p>\n

<\/strong>2.CVP\u5206\u6790<\/strong><\/span>
\n\u30fb\u58f2\u4e0a\u9ad8\u3001\u5909\u52d5\u8cbb\u3001\u56fa\u5b9a\u8cbb\u304c\u4e0e\u3048\u3089\u308c\u640d\u76ca\u5206\u5c90\u70b9\u58f2\u4e0a\u9ad8\u3001\u76ee\u6a19\u5229\u76ca\u3001\u5b89\u5168\u4f59\u88d5\u7387\u306a\u3069\u3092\u554f\u3046\u554f\u984c\u304c\u4e2d\u5fc3\u3002
\n\u30fb\u53c2\u8003\u8a18\u4e8b\u306f\u3053\u3061\u3089<\/a>\u3002
\n\u30fb\u640d\u76ca\u5206\u5c90\u70b9\u58f2\u4e0a\u9ad8\u306e\u8a08\u7b97\u5f0f\uff1aSbep = FC \/ (1-\u03b1\uff09
\n\u30fb\u640d\u76ca\u5206\u5c90\u70b9\u58f2\u4e0a\u9ad8\uff08\u5229\u76ca0\uff09\u3068\u5b9f\u969b\u58f2\u4e0a\u9ad8\uff08\u5229\u76ca\u660e\u793a\uff09\u306e\u9023\u7acb\u65b9\u7a0b\u5f0f\u3067\u5909\u52d5\u8cbb\u7387\u3068\u56fa\u5b9a\u8cbb\u3092\u6c42\u3081\u308b\u554f\u984c\u3082\u5b9a\u756a\u3002
\n\u30fb\u640d\u76ca\u5206\u5c90\u70b9\u6bd4\u7387\u306e\u8a08\u7b97\u5f0f\uff1aSbep \/ Sact x 100\uff08%\uff09
\n\u30fb\u5b89\u5168\u4f59\u88d5\u7387\u306e\u8a08\u7b97\u5f0f\uff1a\uff08Sact – Sbep\uff09\/ Sact x 100\uff08%\uff09 or\u00a0100 – \u640d\u76ca\u5206\u5c90\u70b9\u6bd4\u7387\uff08%\uff09
\n\u30fb\u640d\u76ca\u5206\u5c90\u70b9\u6bd4\u7387\u304c100%\u672a\u6e80\u3067100%\u306b\u8fd1\u3044\u307b\u3069\u53ce\u76ca\u7372\u5f97\u80fd\u529b\u304c\u4f4e\u304f\u3001\u58f2\u4e0a\u6e1b\u5c11\u306b\u5bfe\u3059\u308b\u30ea\u30b9\u30af\u304c\u9ad8\u3044\u3002<\/p>\n

<\/strong>3.\u6295\u8cc7\u306e\u7d4c\u6e08\u6027\u8a08\u7b97<\/strong><\/span>
\n\u30fb\u6b63\u5473\u73fe\u5728\u4fa1\u5024\uff08NPV\uff09\u3001\u56de\u53ce\u671f\u9593\u6cd5\uff08PP\uff09\u3084\u5185\u90e8\u53ce\u76ca\u7387\u6cd5\uff08IRR\uff09\u3001\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\uff08FCF\uff09\u306e\u610f\u5473\u3084\u8a08\u7b97\u554f\u984c\u304c\u4e2d\u5fc3\u3002
\n\u30fb\u53c2\u8003\u8a18\u4e8b\u306f\u3053\u3061\u3089<\/a>\u3002
\n\u30fbNPV\u306e\u8a08\u7b97\u306f\u5fc5\u305a\u6642\u7cfb\u5217\u3067\u56f3\u5f0f\u5316\u3059\u308b\u3002
\n\u30fbPP\uff1a\u56de\u53ce\u671f\u9593 = \u8a2d\u5099\u6295\u8cc7\u984d\uff08\u521d\u671f\uff09 \/ CF\u5747\u7b49\u984d\u3000\u6642\u9593\u4fa1\u5024\u8003\u616e\u3057\u306a\u3044\u3002
\n\u30fbIRR\uff1a\u6295\u8cc7\u306eNPV\u304c0\u3068\u306a\u308b\u5272\u5f15\u7387\u3092\u7b97\u5b9a\u3057\u3001\u5fc5\u8981\u53ce\u76ca\u7387\uff08\u8cc7\u672c\u30b3\u30b9\u30c8\uff09\u3092\u4e0a\u56de\u308c\u3070\u6295\u8cc7\u3092\u5b9f\u65bd\u3059\u3079\u304d\u3068\u306e\u5224\u65ad\u3092\u3059\u308b\u3002
\n\u30fbFCF = \u55b6\u696d\u5229\u76ca x (1 – \u7a0e\u7387) + \u6e1b\u4fa1\u511f\u5374\u8cbb – \u904b\u8ee2\u8cc7\u672c\u5897\u52a0\u984d – \u6295\u8cc7\u984d<\/p>\n

<\/strong>4.\u4f01\u696d\u8a55\u4fa1<\/strong><\/span>
\n\u30fb\u682a\u4fa1\u306e\u5404\u6307\u6a19\u306b\u95a2\u3059\u308b\u554f\u984c\u3068\u52a0\u91cd\u5e73\u5747\u8cc7\u672c\u30b3\u30b9\u30c8\uff08WACC\uff09\u306e\u8a08\u7b97\u554f\u984c\u3092\u554f\u3046\u554f\u984c\u304c\u4e2d\u5fc3\u3002
\n\u30fb\u53c2\u8003\u8a18\u4e8b\u306f\u3053\u3061\u3089<\/a>\u3002
\n\u30fbDPS\u3001\u914d\u5f53\u5229\u56de\u308a\u3001\u914d\u5f53\u6027\u5411\u3001EPS\u3001PER\u3001BPS\u3001PBR\u306e\u610f\u5473\u3068\u8a08\u7b97\u5f0f\u3092\u3057\u3063\u304b\u308a\u3068\u899a\u3048\u308b\u3002
\n\u30fb\u8a08\u7b97\u306e\u969b\u306b\u306f\u3001\u914d\u5f53\u91d1\u30fb\u5f53\u671f\u7d14\u5229\u76ca\u30fb\u7d14\u8cc7\u7523\u306e\u7dcf\u984d\u3092\u4f7f\u3046\u5834\u5408\u3068\u305d\u308c\u305e\u308c1\u682a\u5f53\u305f\u308a\u306e\u984d\u3092\u4f7f\u3046\u5834\u5408\u3092\u3046\u307e\u304f\u4f7f\u3044\u5206\u3051\u308b\u3068\u52b9\u7387\u7684\u3002
\n\u30fbPER x EPS = \u682a\u4fa1
\n\u30fbPBR x BPS = \u682a\u4fa1
\n\u30fbWACC\u306e\u8a08\u7b97\u306fCAPM\u3067\u682a\u4e3b\u306e\u671f\u5f85\u53ce\u76ca\u7387\uff08\u81ea\u5df1\u8cc7\u672c\u30b3\u30b9\u30c8\uff09\u3092\u7b97\u51fa\u3057\u305f\u4e0a\u3067\u8ca0\u50b5\u30b3\u30b9\u30c8\u3068\u5408\u308f\u305b\u308b\u30d1\u30bf\u30fc\u30f3\u304c\u5178\u578b\u7684\u3002
\n\u30fbWACC\u306f\u8ca0\u50b5\u90e8\u5206\u306e\u7bc0\u7a0e\u5206\u3092\u6c17\u3092\u3064\u3051\u308c\u3070\u78ba\u5b9f\u306b\u5f97\u70b9\u3067\u304d\u308b\u3002<\/p>\n

<\/strong>5.MM\u7406\u8ad6<\/strong><\/span>
\n\u30fb\u300c\u5e02\u5834\u306f\u5b8c\u5168\u300d\u3001\u300c\u7a0e\u91d1\u3084\u53d6\u5f15\u30b3\u30b9\u30c8\u306f\u5b58\u5728\u3057\u306a\u3044\u300d\u306a\u3069\u306e\u524d\u63d0\u6761\u4ef6\u304c\u3042\u308c\u3070MM\u7406\u8ad6\u3002
\n\u30fb\u53c2\u8003\u8a18\u4e8b\u306f\u3053\u3061\u3089<\/a>\u3002
\n\u30fbMM\u7406\u8ad6\u306e\u547d\u984c\uff1a\u300c\u6cd5\u4eba\u7a0e\u304c\u5b58\u5728\u3057\u306a\u3044\u5e02\u5834\u3067\u306f\u3001\u4f01\u696d\u4fa1\u5024\u306f\u305d\u306e\u8cc7\u672c\u69cb\u6210\u306b\u4f9d\u5b58\u3057\u306a\u3044\u300d
\n\u2192\u7bc0\u7a0e\u52b9\u679c\u304c\u306a\u3044\u305f\u3081\u3001\u81ea\u5df1\u8cc7\u672c\u5897\u5f37\u3067\u3082\u8ca0\u50b5\u5229\u7528\u3067\u3082\u4f01\u696d\u4fa1\u5024\u306f\u540c\u3058\u3002
\n\u30fbMM\u7406\u8ad6\u306e\u4fee\u6b63\u547d\u984c\uff1a\u300c\u6cd5\u4eba\u7a0e\u304c\u5b58\u5728\u3059\u308b\u3068\u304d\u3001\u8ca0\u50b5\u6bd4\u7387\u304c\u9ad8\u307e\u308b\u307b\u3069\u7bc0\u7a0e\u52b9\u679c\u306e\u73fe\u5728\u4fa1\u5024\u5206\u3060\u3051\u4f01\u696d\u4fa1\u5024\u306f\u4e0a\u6607\u3059\u308b\u300d
\n\u2192\u540c\u3058\u984d\u3092\u8cc7\u91d1\u8abf\u9054\u3059\u308b\u5834\u5408\u3001\u81ea\u5df1\u8cc7\u672c\u5897\u5f37\u3088\u308a\u8ca0\u50b5\u5229\u7528\u306e\u65b9\u304c\u6709\u5229\u3002<\/p>\n

<\/strong>6.\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u7406\u8ad6<\/strong><\/span>
\n\u30fb\u30ea\u30bf\u30fc\u30f3\uff08\u671f\u5f85\u53ce\u76ca\u7387\uff09\u3068\u30ea\u30b9\u30af\uff08\u5206\u6563\u3001\u6a19\u6e96\u504f\u5dee\uff09\u3092\u554f\u3046\u554f\u984c\u304c\u4e2d\u5fc3\u3002
\n\u30fb\u53c2\u8003\u8a18\u4e8b\u306f\u3053\u3061\u3089<\/a>\u3002
\n\u30fb\u671f\u5f85\u53ce\u76ca\u7387\u306e\u7b97\u51fa\u5f0f\uff1a\u03a3\uff5b\u767a\u751f\u78ba\u7387 x \u5404\u72b6\u6cc1\u306e\u53ce\u76ca\u7387\uff5d
\n\u30fb\u5206\u6563\u306e\u7b97\u51fa\u5f0f\uff1a\u03a3\uff5b\u767a\u751f\u78ba\u7387 x (\u5404\u72b6\u6cc1\u306e\u53ce\u76ca\u7387 – \u671f\u5f85\u53ce\u76ca\u7387)\u306e\u4e8c\u4e57\uff5d
\n\u30fb\u6a19\u6e96\u504f\u5dee\u306f\u5206\u6563\u306e\u5e73\u65b9\u6839
\n\u30fb\u5206\u6563\u30fb\u6a19\u6e96\u504f\u5dee\u304c\u5927\u304d\u3044\u307b\u3069\u5e73\u5747\u304b\u3089\u306e\u4e56\u96e2\uff08\u30d0\u30e9\u30c4\u30ad\uff09\u304c\u5927\u304d\u304f\u30ea\u30b9\u30af\u304c\u9ad8\u3044\u3002
\n\u30fb\u3067\u304d\u308c\u3070\u76f8\u95a2\u4fc2\u6570\u3068\u5171\u5206\u6563\u306e\u610f\u5473\u3068\u8a08\u7b97\u5f0f\u3082\u899a\u3048\u308b\u3002\uff08\u6027\u8cea\u306e\u7570\u306a\u308b\u8a3c\u5238\u306e\u7d44\u307f\u5408\u308f\u305b\u306f\u4f4e\u30ea\u30b9\u30af\uff09<\/p>\n

<\/strong>7.CAPM<\/strong><\/span>
\n\u30fbCAPM\u306e\u7406\u8ad6\u3084\u8a08\u7b97\u5f0f\u3092\u554f\u3046\u554f\u984c\u304c\u4e2d\u5fc3\u3002
\n\u30fb\u300c\u5e02\u5834\u30ea\u30b9\u30af\u304c\u9ad8\u3044\u682a\u5f0f\u307b\u3069\u671f\u5f85\u53ce\u76ca\u7387\u306f\u9ad8\u304f\u306a\u308b\u3002\u300d\u3068\u3044\u3046\u95a2\u4fc2\u3092\u8aac\u660e\u3059\u308b\u30e2\u30c7\u30eb\u3002
\n\u30fb\u500b\u5225\u8a3c\u5238\u306e\u671f\u5f85\u53ce\u76ca\u7387 = \u7121\u30ea\u30b9\u30af\u5229\u5b50\u7387 + \u03b2 x \u5e02\u5834\u30ea\u30b9\u30af\u30d7\u30ec\u30df\u30a2\u30e0
\n\u30fb\u5e02\u5834\u30ea\u30b9\u30af\u30d7\u30ec\u30df\u30a2\u30e0 = \u5e02\u5834\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\uff08\u4f8b\u3048\u3070\u6771\u8a3c\u682a\u4fa1\u6307\u6570\uff09\u306e\u671f\u5f85\u53ce\u76ca\u7387 – \u7121\u30ea\u30b9\u30af\u5229\u5b50\u7387
\n\u30fb\u03b2\u306f\u500b\u5225\u8a3c\u5238\u306e\u30ea\u30b9\u30af\u3092\u8868\u3057\u305f\u3082\u306e\u3002\u03b2=1\u306a\u3089\u500b\u5225\u8a3c\u5238\u3068\u5e02\u5834\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u30ea\u30b9\u30af\u306f\u540c\u7b49\u3002<\/p>\n

<\/strong>8.CF\u8a08\u7b97\u66f8<\/strong><\/span>
\n\u30fb\u55b6\u696dCF\u306e\u8a08\u7b97\u554f\u984c\u304c\u4e2d\u5fc3\u3002
\n\u30fb\u53c2\u8003\u8a18\u4e8b\u306f\u3053\u3061\u3089<\/a>\u3002
\n\u30fb\u55b6\u696dCF\u306e\u76f4\u8aac\u6cd5\u3068\u9593\u63a5\u6cd5\u305d\u308c\u305e\u308c\u306e\u7b97\u51fa\u65b9\u6cd5\u3092\u899a\u3048\u308b\u3002
\n\u30fb\u76f4\u63a5\u6cd5\u306e\u55b6\u696dCF\u5c0f\u8a08\u307e\u3067\uff1aP\/L\u306e\u55b6\u696d\u5229\u76ca\u3092\u30ad\u30e3\u30c3\u30b7\u30e5\u63db\u7b97\u3057\u305f\u3082\u306e\u3002
\n\u2192 \u55b6\u696d\u53ce\u5165 – \u5546\u54c1\u4ed5\u5165\u308c\u306b\u3088\u308b\u652f\u51fa – \u4eba\u4ef6\u8cbb\u306e\u652f\u51fa – \u305d\u306e\u4ed6\u55b6\u696d\u652f\u51fa
\n\u30fb\u9593\u63a5\u6cd5\u306e\u55b6\u696dCF\u5c0f\u8a08\u307e\u3067\uff1aP\/L\u306e\u7a0e\u5f15\u524d\u5f53\u671f\u7d14\u5229\u76ca\u304b\u3089\u975e\u8cc7\u91d1\u8cbb\u7528\u306a\u3069\u3092\u8abf\u6574\u3057\u7b97\u5b9a\u3002
\n\u2192 \u7a0e\u5f15\u524d\u5f53\u671f\u7d14\u5229\u76ca + \u6e1b\u4fa1\u511f\u5374\u8cbb + \u6e1b\u640d\u640d\u5931 + \u5f15\u5f53\u91d1\u5897\u52a0\u984d +\/- \u55b6\u696d\u5916\u640d\u76ca\u9006\u9032 +\/- \u7279\u5225\u640d\u76ca\u9006\u9032 +\/- \u904b\u8ee2\u8cc7\u672c<\/p>\n

<\/strong>9.\u7a0e\u52b9\u679c\u4f1a\u8a08<\/strong><\/span>
\n\u30fb\u7a0e\u52b9\u679c\u4f1a\u8a08\u306e\u610f\u7fa9\u30fb\u76ee\u7684\u3084\u8a08\u7b97\u554f\u984c\u304c\u4e2d\u5fc3\u3002
\n\u30fb\u53c2\u8003\u8a18\u4e8b\u306f\u3053\u3061\u3089<\/a>\u3002
\n\u30fb\u4f1a\u8a08\u4e0a\u3068\u7a0e\u6cd5\u4e0a\u306e\u8cc7\u7523\u984d\u30fb\u8ca0\u50b5\u984d\u306b\u76f8\u9055\u304c\u3042\u308b\u5834\u5408\u306e\u8abf\u6574\u3002\uff08\u91cd\u8981\u6027\u306b\u4e4f\u3057\u3044\u5834\u5408\u306f\u7121\u8996\u3067\u304d\u308b\uff09
\n\u30fb\u652f\u6255\u7a0e\u984d\u3092\u6cd5\u4eba\u7a0e\u7b49\u306b\u8a08\u4e0a\u3059\u308b\u4e00\u65b9\u3001\u4f1a\u8a08\u5831\u544a\u4e0a\u306e\u6cd5\u4eba\u7a0e\u3068\u306e\u5dee\u984d\u3092P\/L\u306b\u6cd5\u4eba\u7a0e\u7b49\u8abf\u6574\u984d\uff08\u8cbb\u7528\uff09\u3068\u3057\u3066\u8868\u793a\u3002
\n\u30fb\u6cd5\u4eba\u7a0e\u7b49\u8abf\u6574\u984d = \u4f1a\u8a08\u4e0a\u3068\u7a0e\u6cd5\u4e0a\u306e\u8cbb\u7528\u306e\u5dee\u984d x \u7a0e\u7387
\n\u30fb\u6e1b\u4fa1\u511f\u5374\u8d85\u904e\u984d\u306a\u3069\u5c06\u6765\u6e1b\u7b97\u4e00\u6642\u5dee\u7570\u304c\u767a\u751f\u306e\u5834\u5408\u306f\u3001\u6cd5\u4eba\u7a0e\u7b49\u8abf\u6574\u984d\u3068\u540c\u984d\u3092B\/S\u306b\u7e70\u5ef6\u7a0e\u91d1\u8cc7\u7523\uff08\u8cc7\u7523\uff09\u3068\u3057\u3066\u8868\u793a\u3002
\n\u30fb\u7279\u5225\u511f\u5374\u6e96\u5099\u91d1\u306a\u3069\u5c06\u6765\u52a0\u7b97\u4e00\u6642\u5dee\u7570\u304c\u767a\u751f\u306e\u5834\u5408\u306f\u3001\u6cd5\u4eba\u7a0e\u7b49\u8abf\u6574\u984d\u3068\u540c\u984d\u3092B\/S\u306b\u7e70\u5ef6\u7a0e\u91d1\u8ca0\u50b5\uff08\u8ca0\u50b5\uff09\u3068\u3057\u3066\u8868\u793a\u3002
\n\u30fb\u7a0e\u52b9\u679c\u4f1a\u8a08\u306e\u5bfe\u8c61\u3068\u306a\u3089\u306a\u3044\u6c38\u4e45\u5dee\u7570\u306b\u306f\u53d7\u53d6\u914d\u5f53\u91d1\u3001\u4ea4\u969b\u8cbb\u3001\u5bc4\u4ed8\u91d1\u3001\u7f70\u79d1\u91d1\u306a\u3069\u304c\u3042\u308b\u3002<\/p>\n

<\/strong>10.\u539f\u4fa1\u8a08\u7b97<\/strong><\/span>
\n\u30fb\u7dcf\u5408\u539f\u4fa1\u8a08\u7b97\u3001\u500b\u5225\u539f\u4fa1\u8a08\u7b97\u3001\u6a19\u6e96\u539f\u4fa1\u8a08\u7b97\u304c\u4e2d\u5fc3\u3002
\n\u30fb\u53c2\u8003\u8a18\u4e8b\u306f\u3053\u3061\u3089<\/a>\u3002
\n\u30fb\u305d\u308c\u305e\u308c\u51fa\u984c\u30d1\u30bf\u30fc\u30f3\u304c\u3042\u308b\u306e\u3067\u6bd4\u8f03\u7684\u5bfe\u5fdc\u3057\u3084\u3059\u3044\u3002
\n\u30fb\u7dcf\u5408\u539f\u4fa1\u8a08\u7b97\uff1a\u5927\u91cf\u751f\u7523\u5f62\u614b\u3067\u63a1\u7528\u3055\u308c\u308b\u88fd\u54c1\u539f\u4fa1\u8a08\u7b97\u3002\u8cbb\u7528\u3092\u76f4\u63a5\u6750\u6599\u8cbb\u3068\u52a0\u5de5\u8cbb\u306b\u5206\u3051\u3001\u671f\u672b\u4ed5\u639b\u54c1\u3092\u9032\u6357\u5ea6\u306b\u5fdc\u3058\u3066\u6309\u5206\u3059\u308b\u3002
\n\u30fb\u500b\u5225\u539f\u4fa1\u8a08\u7b97\uff1a\u53d7\u6ce8\u751f\u7523\u5f62\u614b\u3067\u63a1\u7528\u3055\u308c\u308b\u88fd\u54c1\u539f\u4fa1\u8a08\u7b97\u3002\u5de5\u5834\u5168\u4f53\u306e\u539f\u4fa1\u3092\u6750\u6599\u4f7f\u7528\u91cf\u3084\u52b4\u50cd\u6642\u9593\u306e\u914d\u8ce6\u57fa\u6e96\u3067\u88fd\u9020\u6307\u793a\u66f8\u3054\u3068\u306b\u8ce6\u8ab2\u3059\u308b\u3002
\n\u30fb\u6a19\u6e96\u539f\u4fa1\u8a08\u7b97\uff1a\u4e88\u3081\u88fd\u54c1\u88fd\u9020\u306e\u6a19\u6e96\u7684\u306a\u539f\u4fa1\u3092\u8a2d\u5b9a\u3057\u3001\u5b9f\u969b\u306b\u5fc5\u8981\u3068\u3057\u305f\u539f\u4fa1\u3068\u6bd4\u8f03\u5bfe\u7167\u3059\u308b\u3053\u3068\u3067\u539f\u4fa1\u5dee\u7570\u3092\u628a\u63e1\u3057\u539f\u4fa1\u80fd\u7387\u3092\u9ad8\u3081\u308b\u3002T\u5b57\u30dc\u30c3\u30af\u30b9\u3002<\/p>\n

<\/strong>11.\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15<\/strong><\/span>
\n\u30fb\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u4ed5\u7d44\u307f\u3001\u640d\u76ca\u56f3\u306e\u7406\u89e3\u3092\u554f\u3046\u554f\u984c\u304c\u4e2d\u5fc3\u3002
\n\u30fb\u53c2\u8003\u8a18\u4e8b\u306f\u3053\u3061\u3089<\/a>\u3002
\n\u30fb\u682a\u5f0f\u3084\u901a\u8ca8\u3092\u4e00\u5b9a\u671f\u65e5\u82e5\u3057\u304f\u306f\u671f\u9593\u5185\u306b\u58f2\u8cb7\u3059\u308b\u6a29\u5229\u3067\u3001\u8cb7\u3046\u6a29\u5229\u3092\u30b3\u30fc\u30eb\u30aa\u30d7\u30b7\u30e7\u30f3\u3001\u58f2\u308b\u6a29\u5229\u3092\u30d7\u30c3\u30c8\u30aa\u30d7\u30b7\u30e7\u30f3\u3068\u3044\u3046\u3002
\n\u30fb\u640d\u76ca\u56f3\u3067\u306f\u3001\u30b3\u30fc\u30eb\u8cb7\u3044\u306f\u53f3\u4e0a\u304c\u308a\uff08\u30eb\u306e\u306f\u306d\u306e\u90e8\u5206\u304c\u53f3\u4e0a\u304c\u308a\uff09\u3001\u30d7\u30c3\u30c8\u8cb7\u3044\u306f\u53f3\u4e0b\u304c\u308a\uff08\u30c8\u306e2\u753b\u76ee\u304c\u53f3\u4e0b\u304c\u308a\uff09\u3002
\n\u30fb\u4e00\u5b9a\u671f\u65e5\uff08\u6e80\u671f\uff09\u306e\u307f\u884c\u4f7f\u53ef\u80fd\u306a\u30aa\u30d7\u30b7\u30e7\u30f3\u306f\u30e8\u30fc\u30ed\u30d4\u30a2\u30f3\u30bf\u30a4\u30d7\u3001\u6e80\u671f\u307e\u3067\u306f\u3044\u3064\u3067\u3082\u884c\u4f7f\u53ef\u80fd\u306a\u30aa\u30d7\u30b7\u30e7\u30f3\u306f\uff08\u81ea\u7531\u306a\u56fd\uff09\u30a2\u30e1\u30ea\u30ab\u30f3\u30bf\u30a4\u30d7\u3002<\/p>\n

=====<\/p>\n

\u3044\u305a\u308c\u3082\u57fa\u672c\u7684\u306a\u3053\u3068\u3067\u3059\u304c\u3001\u3053\u306e\u6642\u671f\u3060\u304b\u3089\u3053\u305d\u57fa\u672c\u3092\u3057\u3063\u304b\u308a<\/span>\u3068\u6574\u7406\u3057\u3066\u304a\u304d\u307e\u3057\u3087\u3046\u3002\u57fa\u672c\u304c\u5b89\u5b9a\u3057\u3066\u3044\u308c\u3070\u76f8\u624b\u30c1\u30fc\u30e0\u306e\u5909\u5247\u7684\u306a\u653b\u6483\u306b\u3082\u73fe\u5834\u5bfe\u5fdc\u53ef\u80fd<\/span>\u3060\u3057\u3001\u30b1\u30a2\u30ec\u30b9\u30df\u30b9\u306b\u3088\u308b\u5931\u70b9\u3082\u9632\u3052\u307e\u3059<\/span>\u3002<\/p>\n

\u30b9\u30bf\u30e1\u30f3\u30a4\u30ec\u30d6\u30f3\u3092\u3046\u307e\u304f\u4f7f\u3044\u5207\u308c\u308b\u81ea\u4fe1\u304c\u3064\u3044\u3066\u304d\u305f\u3089\u3001\u3092\uff5e\u304c\u8d85\u72d9\u3044\u30e1\u3068\u3057\u305f\u53d6\u308a\u4e0a\u3052\u305f<\/a>\u30b9\u30fc\u30d1\u30fc\u30b5\u30d6\u306e3\u9078\u624b<\/span>\u3082\u638c\u63e1\u3057\u3066\u304a\u304d\u307e\u3057\u3087\u3046\u3002\u30b4\u30fc\u30eb\u306e\u5e45\u304c\u66f4\u306b\u5e83\u304c\u308b\u306f\u305a\u3067\u3059\u3002<\/p>\n

=====<\/p>\n

\u672c\u756a\u307e\u3067\u3042\u306819\u65e5\u3002
\n\u5148\u9031\u306e\u30a4\u30c1\u30ed\u30fc\u306e\u8a00\u8449<\/a>\u304c\u8aed\u3059\u901a\u308a\u300c\u3042\u306e\u6642\u3053\u3046\u3057\u3066\u304a\u3051\u3070\u30b4\u30fc\u30eb\u3092\u9054\u6210\u3067\u304d\u305f\u306e\u306b\u300d\u306a\u3069\u3068\u8a00\u3044\u8a33\u3057\u306a\u3044\u305f\u3081\u306b<\/span>\u300c\u4eca\u4f55\u3092\u3059\u3079\u304d\u304b\u300d\u3092\u8003\u3048<\/span>\u3001\u305d\u306e\u8003\u3048\u5f97\u308b\u3059\u3079\u3066\u306e\u3053\u3068<\/span>\u3092\u3053\u306a\u3057\u3066\u3044\u304d\u307e\u3057\u3087\u3046\uff01<\/p>\n

\u305d\u308c\u3067\u306f\u3001\u4eca\u65e5\u306f\u3053\u3053\u307e\u3067\u3002<\/p>\n

 <\/p>\n

Ciao!
\nBy \u3046\u3061\u3042\u30fc\u306e<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u96e3\u3057\u3044\u72b6\u6cc1\u306b\u9665\u3063\u3066\u3044\u308b\u4eba\u306f\u3001\u81ea\u3089\u304c\u72b6\u6cc1\u3092\u96e3\u3057\u304f\u3057\u3066\u3044\u308b\u306e\u3060\u3068\u601d\u3063\u305f\u307b\u3046\u304c\u3044\u3044\u3002\u3059\u3079\u3066\u3092\u900f\u660e\u306b\u3057\u3001\u5206\u304b\u308a\u3084\u3059\u304f\u30b7\u30f3\u30d7\u30eb\u306b\u8003\u3048\u308b\u3053\u3068\u3060\u3002 \uff08\u30a4\u30d3\u30c1\u30e3\u30fb\u30aa\u30b7\u30e0\uff09 \u307f\u306a\u3055\u3093\u3001\u3053\u3093\u306b\u3061\u306f\uff01\u3046\u3061\u3042\u30fc\u306e\u3067\u3059\u3002 \u5148\u9031\u91d1\u66dc\u65e5\u306b\u4e2d\u5c0f\u4f01\u696d\u8a3a\u65ad […]<\/p>\n","protected":false},"author":19,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"vkexunit_cta_each_option":"","footnotes":""},"categories":[4,20,7,240,428],"tags":[],"class_list":["post-38516","post","type-post","status-publish","format-standard","hentry","category-00-","category-02-","category-7","category-240","category-428"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/rmc-oden.com\/blog\/wp-json\/wp\/v2\/posts\/38516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rmc-oden.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rmc-oden.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rmc-oden.com\/blog\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/rmc-oden.com\/blog\/wp-json\/wp\/v2\/comments?post=38516"}],"version-history":[{"count":0,"href":"https:\/\/rmc-oden.com\/blog\/wp-json\/wp\/v2\/posts\/38516\/revisions"}],"wp:attachment":[{"href":"https:\/\/rmc-oden.com\/blog\/wp-json\/wp\/v2\/media?parent=38516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rmc-oden.com\/blog\/wp-json\/wp\/v2\/categories?post=38516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rmc-oden.com\/blog\/wp-json\/wp\/v2\/tags?post=38516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}