{"id":1831,"date":"2020-12-28T17:20:50","date_gmt":"2020-12-28T08:20:50","guid":{"rendered":"https:\/\/www.commons30.jp\/contents\/?p=1831"},"modified":"2022-03-07T14:37:34","modified_gmt":"2022-03-07T05:37:34","slug":"roe%e3%81%8c%e9%ab%98%e3%81%91%e3%82%8a%e3%82%83%e3%81%84%e3%81%84%e3%81%a3%e3%81%a6%e3%82%82%e3%82%93%e3%81%98%e3%82%83%e3%81%aa%e3%81%84%e3%80%82%e5%b8%82%e5%a0%b4%e3%81%ab%e3%81%9d%e3%81%a3","status":"publish","type":"post","link":"https:\/\/www.commons30.jp\/contents\/viewpoints\/trader-fucci\/1831\/","title":{"rendered":"ROE\u304c\u9ad8\u3051\u308a\u3083\u3044\u3044\u3063\u3066\u3082\u3093\u3058\u3083\u306a\u3044\u3002\u5e02\u5834\u306b\u305d\u3063\u307d\u3092\u5411\u304b\u308c\u306a\u3044\u305f\u3081\u306b\u306fPBR\u3068PER\u306e\u898b\u65b9\u304c\u5927\u4e8b\u3002"},"content":{"rendered":"<p><strong><span style=\"color: #ff9900;\">\u6295\u4fe1\u3067\u306e\u8cc7\u7523\u3065\u304f\u308a\u3092\u30e1\u30a4\u30f3\u306b\u3057\u3064\u3064\u3001\u682a\u5f0f\u6295\u8cc7\u306e\u3053\u3068\u3082\u3061\u3083\u3093\u3068\u7406\u89e3\u3057\u305f\u3044\u4eba\u5411\u3051\u30b3\u30e9\u30e0<\/span><\/strong><\/p>\n<p><strong><span style=\"color: #ff9900;\">\u300c\u30c8\u30ec\u30fc\u30c0\u30fc\u3075\u3063\u3061\u30fc\u6d41\u306e\u6295\u8cc7\u6307\u6a19\u306e\u898b\u65b9\u300d<\/span><\/strong><\/p>\n<hr \/>\n<p><a href=\"https:\/\/www.commons30.jp\/contents\/trader-fucci\/1802\/\">\u524d\u56de<\/a>\u3001\u300c<strong>ROE\uff08\uff05\uff09\uff1d\u5f53\u671f\u7d14\u5229\u76ca \u00f7 \u81ea\u5df1\u8cc7\u672c\uff08\u7d14\u8cc7\u7523\uff09\u00d7100\u3067\u3059\u3002ROE\uff08\u81ea\u5df1\u8cc7\u672c\u5229\u76ca\u7387\uff09\u306f\u3001\u81ea\u5df1\u8cc7\u672c\uff08\u7d14\u8cc7\u7523\uff09\u306b\u5bfe\u3057\u3066\u3069\u308c\u3060\u3051\u306e\u5229\u76ca\u304c\u751f\u307f\u51fa\u3055\u308c\u305f\u306e\u304b\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u300d<\/strong>\u3068\u3044\u3046\u304a\u8a71\u3092\u3057\u307e\u3057\u305f\u3002\u305d\u3057\u3066\u300c\u6b21\u56de\u4ee5\u964d\u3067\u3001<strong>PER\u3068PBR\u3092\u304b\u3089\u3081\u3066ROE\u306e\u898b\u65b9\u3092\u6df1\u3081\u3066<\/strong>\u3044\u304d\u305f\u3044\u300d\u3068\u3057\u307e\u3057\u305f\u3002<\/p>\n<p>\u524d\u56de\u306e\u30d6\u30ed\u30b0\u3092\u66f8\u3044\u3066\u3044\u308b\u969b\u306b\u6c17\u306b\u306a\u308b\u8a18\u4e8b\u304c\u3042\u308a\u307e\u3057\u305f\u3002<strong>12\u670818\u65e5\u4ed8\u306e\u65e5\u7d4c\u65b0\u805e\u671d\u520a2\u9762\u306e\u300c\u771f\u76f8\u6df1\u5c64\u300d\u306b\u3042\u3063\u305f<a href=\"https:\/\/www.nikkei.com\/article\/DGKKZO67447500Y0A211C2EA1000\">\u300c\u30d0\u30ea\u30e5\u30fc\u682a\u3001\u5e02\u5834\u305d\u3063\u307d\u2015ROE\u306e\u4f4e\u3055\u306b\u8ab2\u984c\u300d<\/a>\u3068\u3044\u3046\u8a18\u4e8b<\/strong>\u3067\u3059\u3002\u4eca\u5e74\u306e\u6625\u5148\u304b\u3089\u79cb\u53e3\u307e\u3067\u306f\u30b3\u30ed\u30ca\u6e26\u3067\u3082\u6210\u9577\u304c\u898b\u8fbc\u3081\u308b<span class=\"marker-thickRed\"><strong>\u30b0\u30ed\u30fc\u30b9\u682a\uff08\u6210\u9577\u682a\uff09<\/strong><\/span>\u304c\u8cb7\u308f\u308c\u307e\u3057\u305f\u304c\u3001\u65b0\u578b\u30b3\u30ed\u30ca\u30ef\u30af\u30c1\u30f3\u306e\u958b\u767a\u3067\u7d4c\u6e08\u306e\u6b63\u5e38\u5316\u304c\u671f\u5f85\u3055\u308c\u308b\u3088\u3046\u306b\u306a\u3063\u305f\u3053\u3068\u304b\u3089\u3001\u666f\u6c17\u654f\u611f\u682a\u306e<span class=\"marker-thickRed\"><strong>\u30d0\u30ea\u30e5\u30fc\u682a\uff08\u5272\u5b89\u682a\uff09<\/strong><\/span>\u304c\u4e16\u754c\u7684\u306b\u8cb7\u308f\u308c\u3001\u53cd\u767a\u306b\u8ee2\u3058\u307e\u3057\u305f\u3002\u3057\u304b\u3057\u3001\u65e5\u672c\u682a\u306e\u30d0\u30ea\u30e5\u30fc\u682a\u306e\u53cd\u5fdc\u306f\u920d\u304f\u300c\u6211\u95a2\u305b\u305a\u300d\u3060\u3063\u305f\u3068\u3002\u3042\u308b\u30a2\u30ca\u30ea\u30b9\u30c8\u306f\u300c\u65e5\u672c\u306e\u4f4ePBR\u682a\u306f\u30af\u30aa\u30ea\u30c6\u30a3\u30fc\u304c\u4f4e\u3044\u9298\u67c4\u306e\u6bd4\u7387\u304c\u9ad8\u304f\u3001\u5b89\u304f\u3066\u3082\u8cb7\u308f\u308c\u306a\u3044\u300d\u3068\u5206\u6790\u3057\u3066\u3044\u307e\u3057\u305f\u3002<br \/>\n\u30af\u30aa\u30ea\u30c6\u30a3\u30fc\u3068\u306f\u4f01\u696d\u306e\u300c\u8cea\u300d\u306e\u3053\u3068\u3092\u3044\u3044\u307e\u3059\u3002\u591a\u304f\u306e\u6a5f\u95a2\u6295\u8cc7\u5bb6\u306f\u3001<strong>\u5229\u76ca\u6c34\u6e96\u304c\u9ad8\u304f\u3001\u8cc7\u672c\u3092\u4e0a\u624b\u306b\u6d3b\u7528\u3057\u3001\u306a\u304a\u304b\u3064\u305d\u308c\u304c\u9577\u671f\u7684\u306b\u5b89\u5b9a\u3057\u3066\u3044\u308b\u3068\u3044\u3046\u300c\u8cea\u300d\u306e\u9ad8\u3055\u3092\u6295\u8cc7\u5148\u306e\u4f01\u696d\u306b\u6c42\u3081\u307e\u3059<\/strong>\u304c\u3001\u305d\u308c\u3092\u898b\u6975\u3081\u308b\u306e\u304cROE\u3067\u3059\u3002<br \/>\n\u3067\u306f\u5148\u306e\u30a2\u30ca\u30ea\u30b9\u30c8\u304c\u300c\u65e5\u672c\u306e\u4f4ePBR\u682a\u306f\u30af\u30aa\u30ea\u30c6\u30a3\u30fc\u304c\u4f4e\u3044\u9298\u67c4\u306e\u6bd4\u7387\u304c\u9ad8\u304f\u3001\u5b89\u304f\u3066\u3082\u8cb7\u308f\u308c\u306a\u3044\u300d\u3068\u3044\u3046\u306e\u306f\u3069\u3046\u3044\u3046\u3053\u3068\u306a\u3093\u3067\u3057\u3087\u3046\u3002<\/p>\n<p>\u3053\u3053\u3067PBR\u3068ROE\u306e\u95a2\u4fc2\u3092\u8003\u3048\u3066\u307f\u307e\u3059\u3002<br \/>\n\u682a\u5f0f\u904b\u7528\u306e\u73fe\u5834\u3067\u306f\u3001\u30af\u30aa\u30ea\u30c6\u30a3\u30fc\u3092\u8003\u616e\u3057\u305f\u3046\u3048\u3067\u682a\u4fa1\u306e\u5272\u9ad8\u30fb\u5272\u5b89\u3092\u8a55\u4fa1\u3059\u308b\u5834\u5408\u3001<strong>\u300cPBR\uff1dPER\u00d7ROE\u300d<\/strong>\u3068\u3044\u3046\u95a2\u4fc2\u3092\u3082\u3068\u306b\u8003\u3048\u3066\u3044\u304d\u307e\u3059\u3002<\/p>\n<p><img loading=\"lazy\" class=\"alignnone wp-image-1832\" src=\"https:\/\/www.commons30.jp\/contents\/wp-content\/themes\/the-thor\/img\/dummy.gif\" data-layzr=\"https:\/\/www.commons30.jp\/contents\/wp-content\/uploads\/2020\/12\/\u753b\u50cf1.png\" alt=\"\" width=\"619\" height=\"107\" \/><\/p>\n<p>\u524d\u56de\u307e\u3067\u306b\u304a\u8a71\u3092\u3057\u305f\u901a\u308a\u3001<br \/>\n<strong>\u300cPBR\uff1d\u6642\u4fa1\u7dcf\u984d\u00f7\u81ea\u5df1\u8cc7\u672c\uff08\u682a\u4fa1\u00f71\u682a\u5f53\u305f\u308a\u7d14\u8cc7\u7523\uff09\u300d<\/strong>\u3067\u3059\u3002<br \/>\n<strong>\u300cPER\uff1d\u6642\u4fa1\u7dcf\u984d\u00f7\u7d14\u5229\u76ca\uff08\u682a\u4fa1\u00f71\u682a\u5f53\u305f\u308a\u5229\u76ca\uff09\u300d<\/strong>\u3067\u3059\u3002<br \/>\n<strong>\u300cROE\uff1d\u7d14\u5229\u76ca\u00f7\u81ea\u5df1\u8cc7\u672c\u300d<\/strong>\u3067\u3059\u3002<\/p>\n<p>\u8a08\u7b97\u5f0f\u304b\u3089\u3001\u53f3\u8fba\u306ePER\u306e\u7d14\u5229\u76ca\u3068\u3001ROE\u306e\u7d14\u5229\u76ca\u306f\u76f8\u6bba\u3067\u304d\u308b\u306e\u3067\u3001<strong>\u6642\u4fa1\u7dcf\u984d\u00f7\u81ea\u5df1\u8cc7\u672c<\/strong>\u306b\u306a\u308a\u307e\u3059\u3002\u3053\u308c\u306fPBR\u306e\u8a08\u7b97\u5f0f\u3068\u540c\u3058\u306b\u306a\u308a\u307e\u3059\u3002\u3064\u307e\u308a\u3001ROE\u3068PBR\u306f\u6b63\u6bd4\u4f8b\u306e\u95a2\u4fc2\u306b\u3042\u308a\u3001\u305d\u306e\u4fc2\u6570\u304cPER\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002\u7e26\u8ef8\u306bPBR\u3001\u6a2a\u8ef8\u306bROE\u3092\u3068\u3063\u3066\u30b0\u30e9\u30d5\u306b\u3059\u308b\u3068\u4e0b\u306e\u3088\u3046\u306a\u30b0\u30e9\u30d5\u306b\u306a\u308a\u307e\u3059\u304c\u3001PER\u306f\u305d\u306e\u50be\u304d\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<p><img loading=\"lazy\" class=\"alignnone wp-image-1833\" src=\"https:\/\/www.commons30.jp\/contents\/wp-content\/themes\/the-thor\/img\/dummy.gif\" data-layzr=\"https:\/\/www.commons30.jp\/contents\/wp-content\/uploads\/2020\/12\/\u753b\u50cf2.png\" alt=\"\" width=\"618\" height=\"423\" \/><\/p>\n<p><strong>PBR\u304c\u4f4e\u304f\u3066\u3001ROE\u304c\u9ad8\u3051\u308c\u3070\u3001\u5c06\u6765\u7684\u306a\u9ad8\u53ce\u76ca\u304c\u671f\u5f85\u3067\u304d\u308b<\/strong>\u308f\u3051\u3067\u3059\u304b\u3089\u3001\u30b0\u30e9\u30d5\u306e\u77e2\u5370\u3067\u793a\u3057\u305f\u3088\u3046\u306b\u3001<span class=\"marker-halfBlue\"><strong>\u8db3\u4e0b\u3067\u682a\u4fa1\u306f\u4f4e\u304f\u3066\u3082\u3001\u5c06\u6765\u3078\u306e\u671f\u5f85\u304c\u9ad8\u307e\u308a\u3001PER\u304c\u4e0a\u6607\u3057\u3066\u682a\u4fa1\u3082\u4e0a\u304c\u308b\u3060\u308d\u3046\u3068\u3059\u308b\u306e\u304c\u57fa\u672c\u7684\u306a\u8003\u3048\u65b9<\/strong><\/span>\u3067\u3059\u3002\u6295\u8cc7\u5224\u65ad\u3092\u3059\u308b\u969b\u3001\u3069\u3093\u306a\u4f01\u696d\u304c\u5272\u5b89\u306b\u653e\u7f6e\u3055\u308c\u3066\u3044\u308b\u306e\u304b\u6295\u8cc7\u6307\u6a19\u3092\u4f7f\u3063\u3066\u30b9\u30af\u30ea\u30fc\u30cb\u30f3\u30b0\u3092\u3057\u307e\u3059\u304c\u3001\u305d\u3053\u306b<strong>\u4f4ePBR\u3067\u9ad8ROE\u306e\u4f01\u696d\u304c\u3042\u308c\u3070\u3001\u305d\u306e\u4f01\u696d\u306f\u5272\u5b89\u3068\u307f\u3066\u7a4d\u6975\u7684\u306a\u6295\u8cc7\u5bfe\u8c61\u3068\u3057\u3066\u8003\u3048\u3066\u307f\u305f\u3044<\/strong>\u3067\u3059\u3002<\/p>\n<p>\u3067\u306f\u3001\u5148\u306e\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u304c\u8a00\u3063\u305f<strong>PBR\u304c\u4f4e\u304f\u3066\u3001ROE\u304c\u4f4e\u3044\u5834\u5408<\/strong>\u306f\u3069\u3046\u3067\u3057\u3087\u3046\u3002<strong>\u5c06\u6765\u7684\u306a\u53ce\u76ca\u304c\u671f\u5f85\u3067\u304d\u306a\u3044\u308f\u3051\u3067\u3059\u304b\u3089PER\u3082\u4e0a\u6607\u305b\u305a\u3001\u682a\u4fa1\u306f\u4f4e\u3044\u307e\u307e\u306b\u653e\u7f6e\u3055\u308c\u308b<\/strong>\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002PBR\u306e\u304a\u8a71\u3092\u3057\u305f\u3068\u304d\u306b\u3001PBR\u306f1\u500d\u304c\u57fa\u6e96\u3067\u3059\u3068\u3044\u3046\u304a\u8a71\u3092\u3057\u307e\u3057\u305f\u304c\u3001\u682a\u4fa1\u306f\u4e00\u682a\u5f53\u305f\u308a\u306e\u81ea\u5df1\u8cc7\u672c\uff08\uff1d\u89e3\u6563\u4fa1\u5024\uff09\u3067\u4e0b\u3052\u6b62\u307e\u308b\u3053\u3068\u304c\u591a\u3044\u3067\u3059\u3002\u3068\u3044\u3046\u3053\u3068\u306f\u3001ROE\u304c\u4f4e\u3051\u308c\u3070\u682a\u4fa1\u306f\u4e0a\u6607\u3057\u306a\u3044\u307e\u307ePBR\u306e\u307b\u307c1\u500d\u306e\u6c34\u6e96\u306b\u653e\u7f6e\u3055\u308c\u3001\u4e07\u5e74\u5272\u5b89\u682a\u306b\u306a\u308a\u304b\u306d\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002PBR\u304c\u4f4e\u3051\u308c\u3070\u4f4e\u3044\u307b\u3069\u5272\u5b89\u3068\u5224\u65ad\u3059\u308b\u306e\u306b\u306f\u300c\u7f60\u300d\u304c\u3042\u308b\u5834\u5408\u3082\u3042\u308b\u306e\u3067\u6ce8\u610f\u3057\u305f\u3044\u3067\u3059\u3002<\/p>\n<p>\u3067\u306f\u3001<strong>PER\u3068ROE\u306e\u95a2\u4fc2<\/strong>\u306f\u3069\u3046\u3067\u3057\u3087\u3046\u3002<br \/>\n\u524d\u56de\u3001<strong><span style=\"color: #993300;\">\u300cROE\u3092\u307f\u3066\u6295\u8cc7\u3092\u3059\u308b\u969b\u306f\u3001\u305d\u306e\u4f01\u696d\u306e\u6301\u7d9a\u6027\u3092\u307f\u308b\u3068\u3044\u3046\u306e\u304c\u5927\u5207\u300d<\/span><\/strong>\u3068\u3044\u3046\u304a\u8a71\u3092\u3057\u307e\u3057\u305f\u3002\u3053\u306e\u6301\u7d9a\u6027\u3092ROE\u3068PER\u3067\u307f\u3088\u3046\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002<br \/>\n\u3042\u308b\u5e74\u306eROE\u304c\u9ad8\u3051\u308c\u3070\u305d\u306e\u5e74\u306e\u5229\u76ca\u306f\u5927\u304d\u3044\u306f\u305a\u3067\u3059\uff08ROE\u306f\u5229\u76ca\u304c\u5897\u3048\u308b\u304b\u3001\u81ea\u5df1\u8cc7\u672c\u304c\u6e1b\u5c11\u3059\u308c\u3070\u4e0a\u304c\u308b\u306e\u3067\uff09\u3002<br \/>\n\u3067\u306f\u305d\u306e<strong>\u5229\u76ca\u306f\u3069\u3053\u3078<\/strong>\u884c\u304f\u3093\u3067\u3057\u3087\u3046\uff1f\u3000\u5897\u914d\u306a\u3069\u3067\u793e\u5916\u306b\u51fa\u3055\u306a\u3051\u308c\u3070\u3001\u6b21\u306e\u5e74\u306f\u5229\u76ca\u5270\u4f59\u91d1\u3068\u3057\u3066\u81ea\u5df1\u8cc7\u672c\u306b\u5165\u308a\u307e\u3059\u3002\u3068\u3044\u3046\u3053\u3068\u306f\u3001\u6b21\u306e\u5e74\u306e\u81ea\u5df1\u8cc7\u672c\u306f\u5927\u304d\u304f\u306a\u308a\u307e\u3059\u3002\u6b21\u306e\u5e74\u3082\u4eca\u5e74\u3068\u540c\u3058\u5229\u76ca\u306a\u3089\u3001ROE\u306e\u5206\u5b50\u306e\u5229\u76ca\u306f\u5909\u308f\u3089\u306a\u3044\u306e\u306b\u5206\u6bcd\u306e\u81ea\u5df1\u8cc7\u672c\u304c\u5927\u304d\u304f\u306a\u308a\u3001\u6b21\u306e\u5e74\u306eROE\u306f\u4f4e\u304f\u306a\u3063\u3066\u3057\u307e\u3044\u307e\u3059\u3002\u3057\u305f\u304c\u3063\u3066\u3001<strong>\u9ad8\u3044ROE\u3092\u7dad\u6301\u3059\u308b\u305f\u3081\u306b\u306f\u3001\u5358\u5e74\u3067\u306f\u306a\u304f\u3001\u6b21\u306e\u5e74\u3082\u3001\u305d\u3057\u3066\u305d\u306e\u6b21\u306e\u5e74\u3082\u3001\u4e00\u5b9a\u306e\u5272\u5408\u3067\u5229\u76ca\u3092\u4f38\u3070\u3057\u3066\u3044\u304f\u3053\u3068\u304c\u5fc5\u8981<\/strong>\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u3067\u306f\u305d\u306e\u6642\u306bPER\u306f\u3069\u3046\u306a\u308b\u3067\u3057\u3087\u3046\u3002<strong>PER\u306f\u3001\u5206\u5b50\u306e\u682a\u4fa1\u304c\u4e0b\u304c\u308b\u304b\u3001\u5206\u6bcd\u306e\u5229\u76ca\u304c\u5897\u3048\u308c\u3070\u4f4e\u304f\u306a\u308a<\/strong>\u307e\u3059\u3002<span class=\"marker-thinYellow\"><strong>\u682a\u4fa1\u304c\u4e0b\u304c\u3063\u3066PER\u304c\u4f4e\u304f\u306a\u308a\u3001\u5272\u5b89\u3068\u601d\u3063\u3066\u8cb7\u3063\u305f\u3089\u3001\u5b9f\u306f\u696d\u7e3e\u3082\u82b3\u3057\u304f\u306a\u304f\u3001\u305d\u306e\u5e74\u306e\u6c7a\u7b97\u306f\u6e1b\u76ca\u3060\u3063\u305f\u3068\u3044\u3046\u3053\u3068\u306f\u3088\u304f\u3042\u308a\u307e\u3059<\/strong><\/span>\u3002<span class=\"marker-thinYellow\"><strong>\u7d50\u679c\u3068\u3057\u3066PER\u306f\u4f4e\u3044\u307e\u307e\u3001\u682a\u4fa1\u306f\u4e0b\u304c\u3063\u305f\u307e\u307e\u3067\u305d\u306e\u307e\u307e\u5869\u6f2c\u3051\u306b\u306a\u3063\u3066\u3057\u307e\u3046<\/strong><\/span>\u3068\u3044\u3046\u3053\u3068\u304c\u8d77\u304d\u308b\u306e\u3067\u3059\u3002<br \/>\n\u5229\u76ca\u304c\u5897\u3048\u308b\u3068\u304d\u306f\u3001\u682a\u4fa1\u306f\u305d\u308c\u306b\u5148\u884c\u3057\u3066\u4e0a\u304c\u308b\u3053\u3068\u304c\u591a\u3044\u305f\u3081\u3001\u7d50\u5c40\u306fPER\u3082\u9ad8\u304f\u306a\u308a\u304c\u3061\u3067\u3059\u3002\u9ad8\u3044PER\u3067\u682a\u4fa1\u304c\u7dad\u6301\u3055\u308c\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u306f\u3001\u305d\u308c\u3060\u3051\u696d\u7e3e\u304c\u597d\u8abf\u3060\u3068\u307f\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3057\u3001\u7d50\u679c\u3068\u3057\u3066\u671f\u5f85\u901a\u308a\u306e\u3044\u3044\u6295\u8cc7\u6210\u679c\u304c\u5f97\u3089\u308c\u308b\u3068\u601d\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u3053\u308c\u307e\u3067\u306b\u3001ROE\u3068\u3044\u3046\u30af\u30aa\u30ea\u30c6\u30a3\u30fc\u306e\u9762\u3067\u6295\u8cc7\u3092\u5224\u65ad\u3059\u308b\u969b\u306b\u3001PBR\u3068PER\u306e\u898b\u65b9\u306b\u3064\u3044\u3066\u304a\u8a71\u3057\u3092\u3057\u3066\u304d\u307e\u3057\u305f\u3002\u30c8\u30ec\u30fc\u30c0\u30fc\u3075\u3063\u3061\u30fc\u6d41\u306e\u6295\u8cc7\u6307\u6a19\u306e\u898b\u65b9\u3067\u3044\u3046\u306a\u3089\u3001<span class=\"marker-thickRed\"><strong>\u6295\u8cc7\u5224\u65ad\u306e\u969b\u306b\u30af\u30aa\u30ea\u30c6\u30a3\u30fc\u304c\u9ad8\u3044\u4f01\u696d\u3092\u9078\u307c\u3046\u3068\u3059\u308b\u306a\u3089\u3001\u5148\u305a\u306f\u305d\u306e\u4f01\u696d\u306e\u5229\u76ca\u306e\u7d99\u7d9a\u6027\u3001\u6301\u7d9a\u6027\u3092\u898b\u308b\u3002\u305d\u306e\u4e0a\u3067\u3001\u671f\u9593\u306f\u6700\u4f4e\u3067\u30823\u5e74\u3001\u3067\u304d\u308c\u30705\u5e74\u304f\u3089\u3044\u306e\u4e2d\u9577\u671f\u76ee\u7dda\u3067\u898b\u308b\u3002\u305d\u3057\u3066PBR\u3067\u307f\u308b\u306a\u3089\u3070\u9ad8PBR\u3001PER\u3067\u898b\u308b\u306a\u3089\u3070\u9ad8PER\u306e\u4f01\u696d\u3092\u3001\u305d\u308c\u306b\u3064\u3044\u3066\u3082\u904e\u53bb3\u5e74\u304f\u3089\u3044\u306e\u63a8\u79fb\u3092\u307f\u3066\u9078\u3076\u3053\u3068\u304c\u3088\u308a\u78ba\u304b\u306a\u6295\u8cc7\u6210\u679c\u3092\u5f97\u3089\u308c\u3084\u3059\u3044\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308b<\/strong><\/span>\u3068\u601d\u3044\u307e\u3059\u3002\u305d\u3057\u3066\u3001<span class=\"marker-thickGreen\"><strong>\u5b9f\u969b\u306b\u6295\u8cc7\u3092\u3057\u305f\u969b\u3001\u682a\u4fa1\u306e\u77ed\u671f\u7684\u306a\u30d6\u30ec\u306b\u5bfe\u3057\u3066\u904e\u5ea6\u306b\u53cd\u5fdc\u3092\u3059\u308b\u3053\u3068\u306a\u304f\u3001\u3055\u3089\u306b\u6642\u9593\u8ef8\u3092\u305a\u3089\u3059\u3053\u3068\u306a\u304f\u3001\u305d\u306e\u4f01\u696d\u306e\u696d\u7e3e\u52d5\u5411\u3092\u307f\u306a\u304c\u3089\u682a\u4fa1\u3068\u304a\u4ed8\u304d\u5408\u3044\u3059\u308b\u3068\u3044\u3046\u3053\u3068\u304c\u5927\u5207<\/strong><\/span>\u3060\u3068\u601d\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u7b2c1\u56de\u304b\u3089\u4eca\u56de\u306e\u7b2c9\u56de\u307e\u3067\u3001\u300c\u6295\u4fe1\u3067\u306e\u8cc7\u7523\u3065\u304f\u308a\u3092\u30e1\u30a4\u30f3\u306b\u3057\u3064\u3064\u3001\u682a\u5f0f\u6295\u8cc7\u306e\u3053\u3068\u3082\u3061\u3083\u3093\u3068\u7406\u89e3\u3057\u305f\u3044\u4eba\u5411\u3051\u30b3\u30e9\u30e0\u300d\u3068\u3057\u3066\u300c\u30c8\u30ec\u30fc\u30c0\u30fc\u3075\u3063\u3061\u30fc\u6d41\u306e\u6295\u8cc7\u6307\u6a19\u306e\u898b\u65b9\u300d\u3092\u304a\u8a71\u3057\u3066\u304d\u307e\u3057\u305f\u3002<strong>PER\u3001PBR\u3068ROE<\/strong>\u3002\u307e\u3060\u307e\u3060\u4ed6\u306b\u3082\u69d8\u3005\u306e\u6295\u8cc7\u6307\u6a19\u304c\u3042\u308a\u307e\u3059\u304c\u3001<strong>\u5148\u305a\u306f\u3053\u306e3\u3064\u304c\u4f7f\u3048\u308b\u3088\u3046\u306b\u306a\u308b\u3053\u3068\u304c\u5927\u5207<\/strong>\u3060\u3068\u601d\u3063\u3066\u3044\u307e\u3059\u3002<strong>\u4ed6\u306e\u6295\u8cc7\u6307\u6a19\u306f\u3001\u3053\u306e3\u3064\u306e\u6307\u6a19\u306e\u88dc\u5b8c\u3059\u308b\u3082\u306e<\/strong>\u3082\u591a\u304f\u3042\u308a\u3001\u3055\u3089\u306b\u6295\u8cc7\u6307\u6a19\u306e\u898b\u65b9\u3092\u6df1\u3081\u305f\u3044\u3068\u3044\u3046\u3053\u3068\u3067\u3042\u308c\u3070\u3001\u3055\u3089\u306b\u3054\u81ea\u8eab\u3067\u591a\u304f\u3092\u5b66\u3093\u3067\u524d\u306b\u9032\u3093\u3067\u3044\u305f\u3060\u304d\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002\u307e\u305f\u3001\u30b3\u30e2\u30f3\u30ba30\u30d5\u30a1\u30f3\u30c9\u3001\u30b6\u30fb2020\u30d3\u30b8\u30e7\u30f3\u3067\u6295\u8cc7\u3057\u3066\u3044\u308b\u9298\u67c4\u3092\u6295\u8cc7\u6307\u6a19\u306e\u89b3\u70b9\u304b\u3089\u773a\u3081\u3066\u3044\u305f\u3060\u304f\u306e\u3082\u9762\u767d\u3044\u304b\u3082\u3057\u308c\u307e\u305b\u3093\u3002\u3053\u306e\u30b3\u30e9\u30e0\u304c\u3001\u30d5\u30a1\u30f3\u30c9\u3078\u306e\u7406\u89e3\u3084\u6295\u8cc7\u3078\u306e\u8208\u5473\u306b\u3064\u306a\u304c\u3063\u3066\u3044\u305f\u3060\u3051\u305f\u3089\u3075\u3063\u3061\u30fc\u306f\u5927\u5909\u5b09\u3057\u3044\u3067\u3059\u3002<\/p>\n<p>\u3067\u306f\u3002<\/p>\n<p><a href=\"https:\/\/www.commons30.jp\/contents\/trader-fucci\/1802\/\">\u524d\u306e\u8a18\u4e8b<\/a>\u3000\uff5c\u3000<a href=\"https:\/\/www.commons30.jp\/contents\/category\/trader-fucci\/\">\u300c\u30c8\u30ec\u30fc\u30c0\u30fc\u3075\u3063\u3061\u30fc\u6d41\u300d\u306e\u6295\u8cc7\u6307\u6a19\u306e\u898b\u65b9<\/a>\u3000\uff5c<\/p>\n<p><img loading=\"lazy\" class=\"alignnone wp-image-1517\" src=\"https:\/\/www.commons30.jp\/contents\/wp-content\/themes\/the-thor\/img\/dummy.gif\" data-layzr=\"https:\/\/www.commons30.jp\/contents\/wp-content\/uploads\/2020\/10\/fuchigami-640x426.jpg\" alt=\"\" width=\"261\" height=\"174\" \/><\/p>\n<p>\u30c8\u30ec\u30fc\u30c7\u30a3\u30f3\u30b0\u90e8\/\u90e8\u9577<br \/>\n\u6e15\u4e0a \u5e78\u7537Yukio Fuchigami<\/p>\n<p>\u56fd\u5185\u8a3c\u5238\u4f1a\u793e\u3067\u55b6\u696d\u80774\u5e74\u3002\u5916\u8cc7\u7cfb\u8a3c\u5238\u4f1a\u793e\u306b\u8ee2\u3058\u59d4\u8a17\u53d6\u5f15\u3084\u81ea\u5df1\u53d6\u5f15\u306e\u30bb\u30eb\u30b5\u30a4\u30c9\u30fb\u30c8\u30ec\u30fc\u30c0\u30fc\u3068\u3057\u306610\u5e74\u3002\u56fd\u5185\u6295\u4fe1\u59d4\u8a17\u4f1a\u793e\u306b\u8ee2\u3058\u3001\u8a3c\u5238\u4f1a\u793e\u3078\u306e\u58f2\u8cb7\u767a\u6ce8\u306b\u3068\u3082\u306a\u3046\u30d0\u30a4\u30b5\u30a4\u30c9\u30fb\u30c8\u30ec\u30fc\u30c0\u30fc\u3068\u3057\u30663\u5e74\u3002\u305d\u306e\u5f8c\u3001\u56fd\u5185\u8a3c\u5238\u4f1a\u793e\u3084\u682a\u5f0f\u6295\u8cc7\u60c5\u5831\u4f1a\u793e\u3067\u30d8\u30c3\u30b8\u30d5\u30a1\u30f3\u30c9\u8abf\u67fb\u3084\u682a\u5f0f\u5e02\u5834\u8abf\u67fb\u306b\u5f93\u4e8b\u30022015\u5e7410\u6708\u306b\u30b3\u30e2\u30f3\u30ba\u6295\u4fe1\u306b\u5165\u793e\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u6295\u4fe1\u3067\u306e\u8cc7\u7523\u3065\u304f\u308a\u3092\u30e1\u30a4\u30f3\u306b\u3057\u3064\u3064\u3001\u682a\u5f0f\u6295\u8cc7\u306e\u3053\u3068\u3082\u3061\u3083\u3093\u3068\u7406\u89e3\u3057\u305f\u3044\u4eba\u5411\u3051\u30b3\u30e9\u30e0 \u300c\u30c8\u30ec\u30fc\u30c0\u30fc\u3075\u3063\u3061\u30fc\u6d41\u306e\u6295\u8cc7\u6307\u6a19\u306e\u898b [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2791,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[20],"tags":[38,24,45,22,28,23,21,29,26,25],"_links":{"self":[{"href":"https:\/\/www.commons30.jp\/contents\/wp-json\/wp\/v2\/posts\/1831"}],"collection":[{"href":"https:\/\/www.commons30.jp\/contents\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commons30.jp\/contents\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commons30.jp\/contents\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commons30.jp\/contents\/wp-json\/wp\/v2\/comments?post=1831"}],"version-history":[{"count":5,"href":"https:\/\/www.commons30.jp\/contents\/wp-json\/wp\/v2\/posts\/1831\/revisions"}],"predecessor-version":[{"id":1839,"href":"https:\/\/www.commons30.jp\/contents\/wp-json\/wp\/v2\/posts\/1831\/revisions\/1839"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commons30.jp\/contents\/wp-json\/wp\/v2\/media\/2791"}],"wp:attachment":[{"href":"https:\/\/www.commons30.jp\/contents\/wp-json\/wp\/v2\/media?parent=1831"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commons30.jp\/contents\/wp-json\/wp\/v2\/categories?post=1831"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commons30.jp\/contents\/wp-json\/wp\/v2\/tags?post=1831"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}