{"id":676,"date":"2020-06-04T18:53:25","date_gmt":"2020-06-04T09:53:25","guid":{"rendered":"https:\/\/stage.commons30.jp\/contents\/?p=676"},"modified":"2021-11-02T11:25:29","modified_gmt":"2021-11-02T02:25:29","slug":"%e6%95%99%e3%81%88%e3%81%a6%ef%bc%81%e6%9c%aa%e6%9d%a5%e4%ba%88%e6%83%b3%e5%9b%b3%ef%bd%9e%e8%87%aa%e5%8b%95%e8%bb%8a%e7%94%a3%e6%a5%ad%e3%81%b8%e3%81%ae%e6%83%b3%e3%81%84%ef%bd%9e","status":"publish","type":"post","link":"https:\/\/www.commons30.jp\/contents\/viewpoints\/forecast\/676\/","title":{"rendered":"\u6559\u3048\u3066\uff01\u672a\u6765\u4e88\u60f3\u56f3\uff5e\u81ea\u52d5\u8eca\u7523\u696d\u3078\u306e\u60f3\u3044\uff5e"},"content":{"rendered":"
\u88fd\u9020\u696d\u3084\u5c0f\u58f2\u306e\u8abf\u67fb\u3092\u4e2d\u5fc3\u306b\u30ab\u30d0\u30fc\u3057\u3066\u3044\u308b<\/i>\u30b7\u30cb\u30a2\u30a2\u30ca\u30ea\u30b9\u30c8\u306e\u4e0a\u91ce\u3055\u3093\u3002<\/i>\u30b3\u30ed\u30ca\u798d\u306e\u30ea\u30e2\u30fc\u30c8\u30ef\u30fc\u30af\u3067\u901a\u52e4\u6642\u9593\u304c\u306a\u304f\u306a\u3063\u3066\u3001<\/i>\u65b0\u805e\u3084\u4f01\u696d<\/i>\u3084\u30d0\u30a4\u30b5\u30a4\u30c9<\/i>\u30ec\u30dd\u30fc\u30c8\u3092\u4e01\u5be7\u306b\u8aad\u3080\u6642\u9593\u3092\u78ba\u4fdd\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u305f\u305d\u3046\u3067\u3059\u3002\u3059\u308b\u3068\u65e5\u3054\u308d\u304b\u3089\u8003\u3048\u3066\u3044\u305f\u4f01\u696d\u306e<\/i>\u672a\u6765\u3092\u62d3\u304f3\u3064\u306e\u8981\u7d20\u304c\u3057\u3063\u304b\u308a\u6574\u7406\u3055\u308c\u305f\u3068\u306e\u3053\u3068\u3002\u305d\u3057\u3066\u4eca\u56de\u306e\u4f01\u696d\u6c7a\u7b97\u3092\u3046\u3051\u3066\u305d\u306e\u8003\u3048\u306f\u78ba\u4fe1\u306b\u5909\u308f\u3063\u305f\u305d\u3046\u3002\u539f\u7a3f\u3092\u30d9\u30fc\u30b9\u306b\u3057\u305f\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u3067\u4e00\u6bb5\u3068\u71b1\u304c\u3053\u3082\u3063\u305f\u300c\u81ea\u52d5\u8eca\u7523\u696d\u306e<\/span><\/span><\/i>\u7d99\u7d9a\u7684\u306a\u7814\u7a76\u958b\u767a<\/i><\/span><\/span>\u300d\u306b\u3064\u3044\u3066\u60f3\u3044\u306e\u4e08\u3092\u8a9e\u3063\u3066\u3082\u3089\u3044\u307e\u3057\u305f\u3002<\/span><\/span><\/i><\/div>\n

\u00a0<\/span><\/p>\n

\u89e3\u8aac\u3000\u904b\u7528\u90e8\u30b7\u30cb\u30a2\u30a2\u30ca\u30ea\u30b9\u30c8\u3000\u4e0a\u91ce \u6b66\u662d<\/span><\/div>\n
<\/div>\n
\"\"<\/div>\n
\u805e\u304d\u624b\u3000\u30de\u30fc\u30b1\u30c6\u30a3\u30f3\u30b0\u90e8\u3000\u6a2a\u5c71 \u73b2\u5b50<\/span><\/div>\n
<\/div>\n
\"\"<\/div>\n
<\/div>\n


\n<\/span>
\n\u4e0a\u91ce <\/span><\/b>\u4eca\u56de\u306f\u672a\u6765\u3092\u62d3\u304f3\u3064\u306e\u8981\u7d20\u3068\u3057\u3066\u3001\u4eba\u8ca1\u3092\u5927\u5207\u306b\u3059\u308b\u3053\u3068<\/b>\u3001\u30ea\u30b9\u30af\u3078\u306e\u65e9\u3081\u306e\u5099\u3048<\/b>\u3001\u7d99\u7d9a\u7684\u306a\u7814\u7a76\u958b\u767a<\/b>\u3092\u6319\u3052\u3066\u8aac\u660e\u3057\u307e\u3057\u305f\u3002<\/p>\n

\u6a2a\u5c71<\/b>\u00a0<\/span>\u4e0a\u91ce\u3055\u3093\u306e\u30a2\u30ca\u30ea\u30b9\u30c8\u3068\u3057\u3066\u306e\u8996\u70b9\u3092\u6539\u3081\u3066\u6574\u7406\u3057\u305f\u611f\u3058\u3067\u3059\u306d\uff1f<\/p>\n

\u4e0a\u91ce<\/span> <\/b>\u305d\u3046\u3067\u3059\u3002\u3059\u3079\u3066\u91cd\u8981\u306a\u3053\u3068\u3067\u3059\u3002\u3061\u306a\u307f\u306b3\u3064\u76ee\u306b\u6319\u3052\u305f\u300c\u7d99\u7d9a\u7684\u306a\u7814\u7a76\u958b\u767a\u300d\u3068\u3044\u3046\u306e\u306f\u88fd\u9020\u696d\u3001\u7279\u306b\u81ea\u52d5\u8eca\u7523\u696d<\/b>\u3092\u307f\u3066\u65e5\u9803\u601d\u3063\u3066\u3044\u308b\u3053\u3068\u3067\u3059\u3002\u81ea\u52d5\u8eca\u306b\u8a71\u3092\u7d5e\u308b\u3068\u3001\u65e5\u672c\u306e\u81ea\u52d5\u8eca\u696d\u754c\u306f\u3001\u4e16\u754c\u7684\u306b\u5f37\u3044\u30dd\u30b8\u30b7\u30e7\u30f3<\/b>\u306b\u3044\u307e\u3059\u3002\u305d\u3057\u3066\u3001\u4e2d\u9577\u671f\u306b\u5411\u3051\u3066\u3001\u4f01\u696d\u4fa1\u5024\u3092\u9ad8\u3081\u308b\u305f\u3081\u6b20\u304b\u305b\u306a\u3044\u3001\u7d99\u7d9a\u7684\u306a\u7814\u7a76\u958b\u767a<\/b>\u3092\u3084\u3063\u3066\u3044\u307e\u3059\u3002\u3057\u304b\u3057\u3001\u682a\u5f0f\u5e02\u5834\u3067\u306e\u8a55\u4fa1\u306f\u4f4e\u3044\u72b6\u6cc1<\/b>\u306b\u3042\u308a\u307e\u3059\u3002<\/p>\n

\u6a2a\u5c71<\/b>\u00a0<\/span>\u3069\u3046\u3044\u3046\u3053\u3068\u3067\u3059\u304b\uff1f<\/p>\n

\u4e0a\u91ce<\/span>\u00a0<\/b>\u65e5\u672c\u306e\u81ea\u52d5\u8eca\u30e1\u30fc\u30ab\u30fc\u306e\u682a\u4fa1\u306f\u3001PBR*\uff08\u682a\u4fa1\u7d14\u8cc7\u7523\u500d\u7387\uff09<\/b>\u3067\u307f\u308b\u3068\u3001\u30c8\u30c3\u30d7\u4f01\u696d\u3067\u3055\u3048\uff11\u500d\u3092\u4e0b\u56de\u3063\u3066<\/b>\u3044\u307e\u3059\u3002\u3053\u308c\u306f\u3001\u73fe\u5728\u306e\u682a\u4fa1\u304c\u3001\u4f01\u696d\u306e\u8cc7\u7523\u4fa1\u5024\uff08\u89e3\u6563\u4fa1\u5024\uff09\u3092\u4e0b\u56de\u3063\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u3092\u610f\u5473\u3057\u307e\u3059\u3002\u696d\u754c\u306b\u3088\u3063\u3066\u3001PBR\u306e\u6c34\u6e96\u306f\u7570\u306a\u308a\u307e\u3059\u304c\u3001\u4eca\u306e\u682a\u5f0f\u5e02\u5834\u3067\u306f\u3001\u30c7\u30b8\u30bf\u30eb\u95a2\u9023\u3092\u4e2d\u5fc3\u306b\u6210\u9577\u529b\u306e\u9ad8\u305d\u3046\u306a\u4f01\u696d\u304c\u9ad8\u3044\u8a55\u4fa1\u3092\u53d7\u3051\u3066\u3044\u307e\u3059\u3002\u65e5\u672c\u306e\u4f1a\u793e\u306e\u306a\u304b\u3067\u30b0\u30ed\u30fc\u30d0\u30eb\u3067\u7af6\u4e89\u529b\u304c\u9ad8\u3044\u306e\u306f\u3001\u8eca\u3092\u4e2d\u5fc3\u306b\u591a\u304f\u306f\u88fd\u9020\u696d\u3067\u3059\u3002\u30b0\u30ed\u30fc\u30d0\u30eb\u3067\u306e\u7af6\u4e89\u529b\u304c\u9ad8\u3044\u3068\u3044\u3046\u3053\u3068\u306f\u3001\u7523\u696d\u306e\u3059\u305d\u91ce\u3082\u5e83\u304f\u306a\u308a\u3001\u591a\u304f\u306e\u96c7\u7528\u3082\u751f\u307f\u51fa\u3059\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/p>\n

\u6a2a\u5c71<\/b>\u00a0<\/span>PBR\u304c\u4f4e\u3044\u3068\u3044\u3046\u306e\u306f\u4f55\u3092\u610f\u5473\u3057\u3066\u3044\u308b\u306e\u3067\u3057\u3087\u3046\uff1f<\/p>\n

\u4e0a\u91ce<\/span>\u00a0<\/b>PBR(\u682a\u4fa1\u7d14\u8cc7\u7523\u500d\u7387)=ROE**\uff08\u81ea\u5df1\u8cc7\u672c\u5229\u76ca\u7387\uff09\u00d7PER***\uff08\u682a\u4fa1\u53ce\u76ca\u7387\uff09\u3068\u3044\u3046\u8a08\u7b97\u5f0f\u304b\u3089\u6210\u308a\u7acb\u3063\u3066\u3044\u307e\u3059\u3002PBR\u306e\u4f4e\u3044\u696d\u7a2e\u306fROE\u304c\u4f4e\u3044\u304b\u3001PER\u304c\u4f4e\u3044\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002ROE\u304c\u4f4e\u3044\u3068\u306f\u3001\u8cc7\u672c\u3092\u52b9\u7387\u7684\u306b\u4f7f\u3063\u3066\u5229\u76ca\u3092\u51fa\u305b\u3066\u3044\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002PER\u304c\u4f4e\u3044\u3068\u306f\u3001\u3044\u308d\u3044\u308d\u306a\u7406\u7531\u304c\u3042\u308a\u307e\u3059\u304c\u3001\u4eba\u6c17\u304c\u306a\u3044<\/b>\u3068\u3044\u3046\u3053\u3068\u304c\u8a00\u3048\u307e\u3059\u3002<\/p>\n

\u6a2a\u5c71<\/b>\u00a0<\/span>\u4eba\u6c17\u3067\u3059\u304b\u3002\u306a\u305c\u3001\u4eba\u6c17\u304c\u306a\u3044\u306e\u3067\u3057\u3087\u3046\u304b\u3002<\/p>\n

\u4e0a\u91ce<\/span>\u00a0<\/b>\u77ed\u671f\u7684\u306a\u696d\u7e3e\u306b\u9b45\u529b\u304c\u4e4f\u3057\u3044\u3053\u3068<\/b>\u3068\u3001\u4e2d\u9577\u671f\u3067\u306e\u6210\u9577\u529b\u306b\u4e0d\u900f\u660e\u611f\u304c\u3042\u308b<\/b>\u3068\u3044\u3046\u3053\u3068\u3060\u3068\u601d\u3044\u307e\u3059\u3002\u82e5\u8005\u306e\u8eca\u96e2\u308c<\/b>\u3068\u3088\u304f\u8a00\u308f\u308c\u307e\u3059\u304c\u3001\u82e5\u3044\u4eba\u3067\u8eca\u3092\u6240\u6709\u3059\u308b\u4eba\u304c\u5c11\u306a\u304f\u306a\u3063\u305f\u3053\u3068\u3084\u8eca\u696d\u754c\u5168\u4f53\u3068\u3057\u3066\u3001\u5c06\u6765\u306e\u305f\u3081\u306e\u8a2d\u5099\u6295\u8cc7\u3084\u7814\u7a76\u958b\u767a\u6295\u8cc7\u306b\u8cc7\u91d1\u304c\u5fc5\u8981\u3067\u77ed\u671f\u7684\u306b\u306f\u5229\u76ca\u304c\u51fa\u306b\u304f\u3044\u69cb\u9020<\/b>\u304c\u3042\u308a\u307e\u3059\u3002\u4e2d\u9577\u671f\u7684\u306b\u306f\u3001\u81ea\u52d5\u904b\u8ee2\u306e\u4e16\u754c\u306b\u306a\u308c\u3070\u3001\u8eca\u306e\u4fa1\u683c\u306f\u5927\u5e45\u306b\u9ad8\u304f\u306a\u308b\u306e\u3067\u306f\u306a\u3044\u304b\uff08\u4e00\u822c\u6d88\u8cbb\u8005\u304c\u8cb7\u3046\u306e\u304b\uff09\u3001\u30ab\u30fc\u30b7\u30a7\u30a2\u30ea\u30f3\u30b0\u306b\u306a\u308c\u3070\u3001\u8eca\u306e\u8ca9\u58f2\u53f0\u6570\u304c\u6e1b\u308b\u306e\u3067\u306a\u3044\u304b\u3001\u306a\u3069\u61f8\u5ff5\u3092\u6301\u3064\u4eba\u3082\u3044\u307e\u3059\u3002\u4e2d\u9577\u671f\u306b\u5411\u3051\u3066\u306e\u61f8\u5ff5\u306b\u3064\u3044\u3066\u3001\u81ea\u52d5\u8eca\u7523\u696d\u306e\u672a\u6765\u3092\u4e01\u5be7\u306b\u7d0d\u5f97\u3067\u304d\u308b\u5f62\u3067\u3001\u6295\u8cc7\u5bb6\u3084\u4e16\u9593\u306b\u8aac\u660e\u3059\u308b\u60c5\u5831\u767a\u4fe1\u529b\u304c\u81ea\u52d5\u8eca\u696d\u754c\u306e\u30c8\u30c3\u30d7\u306b\u6c42\u3081\u3089\u308c\u3066\u3044\u308b<\/b>\u3068\u601d\u308f\u308c\u307e\u3059\u3002<\/p>\n

\u6a2a\u5c71<\/b>\u00a0<\/span>\u78ba\u304b\u306b\u3002\u4eca\u5b9f\u614b\u304c\u78ba\u7acb\u3057\u3066\u3044\u308b\u3060\u3051\u306b\u672a\u6765\u3092\u60f3\u50cf\u3059\u308b\u306e\u304c\u96e3\u3057\u3044\u611f\u3058\u304c\u3057\u307e\u3059\u3002<\/p>\n

\u4e0a\u91ce<\/span>\u00a0<\/b>\u4e2d\u9577\u671f\u306e\u59ff\u306b\u4e0d\u900f\u660e\u611f\u304c\u5f37\u3044\u3068\u3001\u682a\u4fa1\u306e\u30c7\u30a3\u30b9\u30ab\u30a6\u30f3\u30c8\u8981\u56e0\u306b\u306a\u308a\u304b\u306d\u307e\u305b\u3093<\/b>\u3002<\/p>\n

\u6a2a\u5c71<\/b>\u00a0<\/span>\u660e\u308b\u3044\u672a\u6765\u304c\u60f3\u50cf\u3067\u304d\u306a\u3044\u696d\u754c\u306b\u6295\u8cc7\u3059\u308b\u306e\u306f\u907f\u3051\u305f\u3044\u3067\u3059\u3082\u3093\u306d\u3002<\/p>\n

\u4e0a\u91ce<\/span>\u00a0<\/b>\u305d\u306e\u901a\u308a\u304b\u3082\u3057\u308c\u307e\u305b\u3093\u3002\u305f\u3060\u3001\u660e\u308b\u3044\u672a\u6765\u304c\u60f3\u50cf\u3067\u304d\u306a\u3044\u308f\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u898b\u3048\u306b\u304f\u3044\u90e8\u5206\u304c\u591a\u3044\u306e\u3067\u4e0d\u5b89\u611f\u306e\u307b\u3046\u304c\u5f37\u304f\u306a\u3063\u3066\u3044\u308b\u3060\u3051<\/b>\u3060\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n

\u6a2a\u5c71<\/b> <\/span>\u91cd\u8981\u306a\u7523\u696d\u3067\u3059\u3057\u3001\u307e\u3060\u307e\u3060\u4f38\u3073\u3057\u308d\u306f\u3042\u308a\u305d\u3046\u3067\u3059\u3088\u306d\u3002<\/p>\n

\u4e0a\u91ce<\/span>\u00a0<\/b>\u4f38\u3073\u3057\u308d\u306f\u5927\u304d\u3044<\/b>\u3068\u601d\u3044\u307e\u3059\u3002\u4eca\u56de\u306e\u672a\u6765\u4e88\u60f3\u56f3\u3067\u3082\u66f8\u304d\u307e\u3057\u305f\u304c\u3001\u65e5\u672c\u306e\u81ea\u52d5\u8eca\u30e1\u30fc\u30ab\u30fc\u306e\u512a\u308c\u305f\u74b0\u5883\u6280\u8853\u3067\u3001\u65b0\u8208\u56fd\u3092\u4e2d\u5fc3\u306b\u6539\u5584\u304c\u9045\u308c\u3066\u3044\u308b\u5927\u6c17\u6c5a\u67d3\u306e\u6539\u5584\u306b\u5927\u304d\u304f\u8ca2\u732e<\/b>\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002\u307e\u305f\u3001\u81ea\u52d5\u904b\u8ee2\u6280\u8853\u306e\u767a\u9054\u306f\u3001EC\u7269\u6d41\u3001\u98f2\u98df\u306e\u30c7\u30ea\u30d0\u30ea\u30fc\u306a\u3069\u3078\u306e\u9032\u5316\u306b\u3082\u3064\u306a\u304c\u3063\u3066<\/b>\u3044\u304d\u307e\u3059\u3002\u8a71\u306f\u3001\u521d\u3081\u306b\u623b\u308a\u307e\u3059\u304c\u3001\u3060\u304b\u3089\u3001\u4e2d\u9577\u671f\u306e\u305f\u3081\u306e\u7814\u7a76\u958b\u767a\u306f\u91cd\u8981\u306a\u306e\u3067\u3059\u3002<\/p>\n

\u6a2a\u5c71<\/b>\u00a0<\/span>\u306a\u308b\u307b\u3069\u3002\u305d\u3093\u306a\u82e6\u5883\u3067\u3082\u5927\u304d\u306a\u6295\u8cc7\u3057\u3066\u7814\u7a76\u958b\u767a\u3092\u3084\u3063\u3066\u3044\u308b\u308f\u3051\u3067\u3001\u300c\u305d\u3053\u3092\u5fdc\u63f4\u3057\u305f\u3044\u300d\u3068\u3044\u3046\u306e\u304c\u30b3\u30e2\u30f3\u30ba\u306e\u30b9\u30bf\u30f3\u30b9<\/b>\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u306d\uff1f<\/p>\n

\u4e0a\u91ce<\/span>\u00a0<\/b>\u79c1\u305f\u3061\u306f\u9577\u671f\u6295\u8cc7\u5148\u3068\u3057\u3066\u3001\u30db\u30f3\u30c0\u3092\u7d44\u307f\u5165\u308c\u3066\u3044\u307e\u3059\u3002\u81ea\u52d5\u8eca\u7523\u696d\u306e\u5c06\u6765\u306f\u898b\u3048\u306b\u304f\u3044\u90e8\u5206\u304c\u3042\u308a\u307e\u3059\u3002\u3057\u304b\u3057\u3001\u6709\u671b\u306a\u7523\u696d\u3060\u304b\u3089\u7c73\u56fd\u306e\u5de8\u5927IT\u4f01\u696d\u306a\u3069\u304c\u95a2\u308f\u308d\u3046\u3068\u3057\u3066\u304d\u3066\u3044\u307e\u3059\u3002\u30db\u30f3\u30c0\u306f\u52dd\u3061\u6b8b\u3063\u3066\u3044\u3051\u308b\u4f1a\u793e\u3060\u3068\u601d\u3063\u3066\u3044\u307e\u3059\u3002\u30db\u30f3\u30c0\u304c\u6301\u3063\u3066\u3044\u308b\u3001\u898b\u3048\u308b\u4fa1\u5024\u3001\u898b\u3048\u306a\u3044\u4fa1\u5024\u3092\u5341\u5206\u306b\u751f\u304b\u3057\u306a\u304c\u3089\u9032\u5316\u3057\u3066\u6b32\u3057\u3044<\/b>\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n

\u6a2a\u5c71<\/b>\u00a0<\/span>\u65e5\u672c\u4f01\u696d\u306f\u3053\u306e\u5148\u3069\u306e\u3088\u3046\u306b\u5909\u308f\u3063\u3066\u3044\u304f\u306e\u3067\u3057\u3087\u3046\u304b\uff1f<\/p>\n

\u4e0a\u91ce<\/span>\u00a0<\/b>\u4f01\u696d\u306e\u672c\u8cea\u306f\u5909\u308f\u3089\u306a\u3044\u3068\u601d\u3044\u307e\u3059\u3002\u305d\u308c\u305e\u308c\u306e\u4f1a\u793e\u306b\u306f\u3084\u306f\u308a\u300c\u4eba\u3092\u5927\u5207\u306b\u3059\u308b\u3053\u3068\u300d\u3068\u304b\u300c\u30ea\u30b9\u30af\u3078\u306e\u5099\u3048\u300d\u3068\u304b\u3001\u305d\u308c\u304b\u3089\u3084\u3063\u3071\u308a\u88fd\u9020\u696d\u306a\u3089\u300c\u3069\u3093\u306a\u6642\u3067\u3082\u7d99\u7d9a\u3057\u3066\u7814\u7a76\u958b\u767a\u3092\u843d\u3068\u3055\u306a\u3044\u300d\u3053\u3068\u3002\u3059\u3050\u306b\u306f\u6210\u679c\u304c\u51fa\u306a\u3044\u304b\u3082\u3057\u308c\u306a\u3044\u3051\u3069\u3001\u3053\u308c\u306f10\u5e74\u5f8c\u300120\u5e74\u5f8c\u306b\u5fc5\u305a\u623b\u3063\u3066\u304f\u308b\u3002\u3053\u306e\u90e8\u5206\u3092\u4eca\u3053\u305d\u5927\u5207\u306b\u898b\u306a\u304d\u3083\u3044\u3051\u306a\u3044\u6c17\u6301\u3061\u306b\u306a\u3063\u3066<\/b>\u3044\u307e\u3059\u3002\u4f01\u696d\u5074\u306f\u305d\u308c\u3092\u3046\u307e\u304f\u4f1d\u3048\u3066\u6b32\u3057\u3044<\/b>\u3067\u3059\u3057\u3001\u79c1\u305f\u3061\u3082\u305d\u3053\u3092\u304a\u624b\u4f1d\u3044\u3067\u304d\u305f\u3089<\/b>\u3068\u601d\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u6a2a\u5c71<\/b> <\/span>\u4e0a\u91ce\u3055\u3093\u306e\u88fd\u9020\u696d\u3078\u306e\u611b\u304c\u30d3\u30b7\u30d3\u30b7\u4f1d\u308f\u3063\u3066\u304d\u307e\u3057\u305f\uff01\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\uff01<\/p>\n

*PBR\uff08\u682a\u4fa1\u7d14\u8cc7\u7523\u500d\u7387\uff09\u4eca\u306e\u682a\u4fa1\u304c\u3001\u305d\u306e\u4f01\u696d\u306e1\u682a\u5f53\u305f\u308a\u7d14\u8cc7\u7523\u306e\u4f55\u500d\u307e\u3067\u8cb7\u308f\u308c\u3066\u3044\u308b\u304b\u3092\u793a\u3059\u6307\u6a19\u30021\u500d\u4ee5\u4e0b\u306e\u6c34\u6e96\u3067\u306f\u4f1a\u793e\u304c\u4fdd\u6709\u3059\u308b\u7d14\u8cc7\u7523\u306e\u984d\u3088\u308a\u682a\u4fa1\u306e\u65b9\u304c\u5b89\u3044\u3053\u3068\u3092\u793a\u3057\u3066\u3044\u308b\u3002<\/p>\n

**ROE\uff08\u81ea\u5df1\u8cc7\u672c\u5229\u76ca\u7387\uff09\u3068\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\u3002<\/p>\n

***PER\uff08\u682a\u4fa1\u53ce\u76ca\u7387\uff09\u4eca\u306e\u682a\u4fa1\u304c\u3001\u305d\u306e\u4f01\u696d\u306e\u5c06\u6765\u306e1\u682a\u5f53\u305f\u308a\u5229\u76ca\u306e\u4f55\u500d\u307e\u3067\u8cb7\u308f\u308c\u3066\u3044\u308b\u304b\u3092\u793a\u3059\u6307\u6a19\u3002\u5c06\u6765\u3078\u306e\u671f\u5f85\u5024\u3084\u3001\u4eba\u6c17\u306e\u5ea6\u5408\u3044\u3092\u793a\u3059\u3002<\/p>\n

\u203b\u6587\u4e2d\u306b\u8a18\u8f09\u306e\u5185\u5bb9\u306f\u7279\u5b9a\u9298\u67c4\u306e\u58f2\u8cb7\u306a\u3069\u306e\u63a8\u5968\u3001\u307e\u305f\u306f\u4fa1\u683c\u306a\u3069\u306e\u4e0a\u6607\u3084\u4e0b\u843d\u3092\u793a\u5506\u3059\u308b\u3082\u306e\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

\u88fd\u9020\u696d\u3084\u5c0f\u58f2\u306e\u8abf\u67fb\u3092\u4e2d\u5fc3\u306b\u30ab\u30d0\u30fc\u3057\u3066\u3044\u308b\u30b7\u30cb\u30a2\u30a2\u30ca\u30ea\u30b9\u30c8\u306e\u4e0a\u91ce\u3055\u3093\u3002\u30b3\u30ed\u30ca\u798d\u306e\u30ea\u30e2\u30fc\u30c8\u30ef\u30fc\u30af\u3067\u901a\u52e4\u6642\u9593\u304c\u306a\u304f\u306a\u3063\u3066\u3001\u65b0\u805e […]<\/p>\n","protected":false},"author":1,"featured_media":619,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"https:\/\/www.commons30.jp\/contents\/wp-json\/wp\/v2\/posts\/676"}],"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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commons30.jp\/contents\/wp-json\/wp\/v2\/comments?post=676"}],"version-history":[{"count":3,"href":"https:\/\/www.commons30.jp\/contents\/wp-json\/wp\/v2\/posts\/676\/revisions"}],"predecessor-version":[{"id":2403,"href":"https:\/\/www.commons30.jp\/contents\/wp-json\/wp\/v2\/posts\/676\/revisions\/2403"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commons30.jp\/contents\/wp-json\/wp\/v2\/media\/619"}],"wp:attachment":[{"href":"https:\/\/www.commons30.jp\/contents\/wp-json\/wp\/v2\/media?parent=676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commons30.jp\/contents\/wp-json\/wp\/v2\/categories?post=676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commons30.jp\/contents\/wp-json\/wp\/v2\/tags?post=676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}