{"id":1690,"date":"2019-06-02T20:18:16","date_gmt":"2019-06-02T11:18:16","guid":{"rendered":"http:\/\/beyondthefinance.com\/?p=1690"},"modified":"2021-03-03T01:05:32","modified_gmt":"2021-03-02T16:05:32","slug":"%e6%a0%aa%e4%b8%bb%e4%be%a1%e5%80%a4%e3%80%81%e4%ba%8b%e6%a5%ad%e4%be%a1%e5%80%a4%e3%80%81%e4%bc%81%e6%a5%ad%e4%be%a1%e5%80%a4%e3%81%a3%e3%81%a6%e3%81%a9%e3%81%86%e9%81%95%e3%81%86%e3%81%ae%ef%bc%9f","status":"publish","type":"post","link":"https:\/\/beyondthefinance.com\/?p=1690","title":{"rendered":"\u682a\u4e3b\u4fa1\u5024\u3001\u4e8b\u696d\u4fa1\u5024\u3001\u4f01\u696d\u4fa1\u5024\u3063\u3066\u3069\u3046\u9055\u3046\u306e\uff1f\u301c\u30bd\u30d5\u30c8\u30d0\u30f3\u30af\u306e\u6c7a\u7b97\u8aac\u660e\u4f1a\u304b\u3089\u8003\u3048\u308b"},"content":{"rendered":"<p><span style=\"font-size: 12pt;\">\u3053\u3093\u306b\u3061\u306f\u30b2\u30f3\u30bf\u3067\u3059\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 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12pt;\">\u682a\u4e3b\u4fa1\u5024\u3092\u307f\u3066\u3044\u308b\u3068\u8a00\u3063\u3066\u3044\u307e\u3059\u3002<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u307e\u3042\u3001\u305d\u308a\u3083\u3042\u305d\u3046\u306a\u3093\u3067\u3059\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 12pt;\">\u306a\u305c\u306a\u3089\u3001\u5b6b\u793e\u9577\u306f\u30bd\u30d5\u30c8\u30d0\u30f3\u30af\u3092\u6295\u8cc7\u4f01\u696d\u3068\u3057\u3066\u307f\u3066\u7d4c\u55b6\u3057\u3066\u3044\u308b\u304b\u3089\u3067\u3059\u3002<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u6709\u671b\u306a\u6295\u8cc7\u5148\u306b\u304a\u91d1\u3092\u6295\u8cc7\u3057\u3066\u3001\u6295\u8cc7\u5148\u304c\u6210\u9577\u3059\u308b\u3053\u3068\u306b\u3088\u3063\u3066<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u6295\u8cc7\u3057\u305f\u304a\u91d1\u304c\u81a8\u3089\u307e\u305b\u3066\u3044\u304f\u3079\u304f\u7d4c\u55b6\u3057\u3066\u3044\u308b\u308f\u3051\u3067\u3059\u3002<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u306a\u306e\u3067\u3001\u55b6\u696d\u5229\u76ca\u306a\u3093\u304b\u3067\u306f\u306a\u304f\u3001\u682a\u4e3b\u4fa1\u5024\u304c\u3069\u3046\u306a\u3063\u305f\u306e\u304b\uff1f\u3092\u91cd\u8996\u3057\u3066\u3044\u308b\u308f\u3051\u3067\u3059\u3002<\/span><\/p>\n<h2 style=\"text-align: center;\">\u682a\u4e3b\u4fa1\u5024\u3063\u3066\u306a\u306b\u3088\uff1f<\/h2>\n<p><span style=\"font-size: 12pt;\">M&amp;A\u306a\u3069\u306e\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u306a\u3069\u3067\u682a\u4e3b\u4fa1\u5024\u306e\u8a08\u7b97\u304c\u51fa\u3066\u304d\u307e\u3059\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 12pt;\">\u3067\u3059\u304c\u3001\u6065\u305a\u304b\u3057\u306a\u304c\u3089\u50d5\u3082\u6614\u3088\u304f\u3001<\/span><\/p>\n<p><span style=\"font-size: 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decoding=\"async\" class=\"alignleft size-full wp-image-1699\" src=\"https:\/\/beyondthefinance.com\/wp-content\/uploads\/2019\/06\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2019-06-02-17.59.11.png\" alt=\"\" width=\"556\" height=\"283\" \/>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"text-decoration: underline; font-size: 12pt;\">\u6642\u4fa1\u7dcf\u984d\uff08\u682a\u4e3b\u4fa1\u5024\uff09<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u767a\u884c\u6e08\u682a\u5f0f\u6570&#x2716;&#xfe0f;\u682a\u4fa1\uff1d\u6642\u4fa1\u7dcf\u984d<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u3067\u8a08\u7b97\u3055\u308c\u307e\u3059\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 12pt;\">\u307e\u3042\u3001\u308f\u304b\u308a\u3084\u3059\u3044\u3067\u3059\u3088\u306d\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"text-decoration: underline; font-size: 12pt;\">\u4e8b\u696d\u4fa1\u5024<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u6642\u4fa1\u7dcf\u984d\uff0bNet Debt\uff08\uff1d\u6709\u5229\u5b50\u8ca0\u50b5\u30fc\u975e\u4e8b\u696d\u4fa1\u5024\uff09\uff1d\u4e8b\u696d\u4fa1\u5024\uff1dEV\uff08Enterprise Value)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u3068\u306a\u308a\u307e\u3059\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 12pt;\">\u4e8b\u696d\u3092\u884c\u3046\u3053\u3068\u306b\u3088\u3063\u3066\u751f\u307f\u51fa\u3055\u308c\u308b\u5c06\u6765\u306e\u4fa1\u5024\u306e\u73fe\u5728\u4fa1\u5024\u306e\u3053\u3068\u3067\u3059\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 12pt;\">\u306a\u306e\u3067\u3001\u3082\u3046\u4e00\u3064\u306e\u8a08\u7b97\u65b9\u6cd5\u3068\u3057\u3066\u306f<\/span><\/p>\n<p><span style=\"font-size: 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Debt\u3092\u5dee\u3057\u5f15\u3044\u3066\u682a\u4fa1\u3092\u7b97\u5b9a\u3057\u305f\u308a\u3057\u307e\u3059\u3002<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u305d\u308c\u306b\u52a0\u3048\u3066\u3001\u5c06\u6765CF\u3092\u5272\u308a\u5f15\u3044\u3066DCF\u6cd5\u3067EV\u3092\u51fa\u3057\u3066Net Debt\u3092\u5dee\u3057\u5f15\u3044\u3066\u682a\u4fa1\u3092\u7b97\u5b9a\u3057\u307e\u3059\u3002<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u3053\u308c\u3089\u3092\u6bd4\u8f03\u691c\u8a0e\u3057\u3066\u3001\u6700\u7d42\u7684\u306b\u4fa1\u683c\u3092\u6c7a\u3081\u308b\u308f\u3051\u3067\u3059\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 12pt;\">\u3061\u3087\u3063\u3068\u3084\u3084\u3053\u3057\u3044\u3068\u601d\u3046\u306e\u3067\u3001\u3053\u3053\u3067\u308f\u304b\u3089\u306a\u3044\u306a\u3068\u601d\u3063\u305f\u3089\u3053\u306e\u90e8\u5206\u306f\u98db\u3070\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u307e\u305f\u5225\u306b\u308f\u304b\u308a\u3084\u3059\u304f\u8aac\u660e\u3057\u307e\u3059\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"text-decoration: underline; font-size: 12pt;\">\u975e\u4e8b\u696d\u4fa1\u5024<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u4fdd\u6709\u3057\u3066\u3044\u308b\u73fe\u9810\u91d1\u3001\u77ed\u671f\u306e\u6709\u4fa1\u8a3c\u5238\uff08\u91d1\u878d\u5546\u54c1\uff09\u306e\u6642\u4fa1\u306e\u3053\u3068\u3067\u3059\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"text-decoration: underline; font-size: 12pt;\">\u4f01\u696d\u4fa1\u5024<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u6642\u4fa1\u7dcf\u984d\uff0b\u6709\u5229\u5b50\u8ca0\u50b5=\u4f01\u696d\u4fa1\u5024<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u3068\u306a\u308a\u307e\u3059\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 12pt;\">\u3068\u3044\u3046\u3088\u3046\u306b\u8a08\u7b97\u3055\u308c\u307e\u3059\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 12pt;\">\u3053\u308c\u3089\u306e\u8a08\u7b97\u65b9\u6cd5\u306f\u7d50\u69cb\u3001\u9593\u9055\u3048\u3084\u3059\u3044\u3067\u3059\u3057\u3001<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u4f1a\u8a08\u58eb\u3067\u3082\u9593\u9055\u3048\u3084\u3059\u3044\u3068\u3053\u308d\u3060\u3063\u305f\u308a\u3059\u308b\u306e\u3067\u899a\u3048\u3066\u304a\u304f\u3068<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u3059\u3052\u30fc\u3068\u601d\u308f\u308c\u305f\u308a\u3059\u308b\u3053\u3068\u3082\u3042\u308b\u304b\u3082\u3067\u3059\u3002<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\uff08\u77e5\u3063\u3066\u308b\u304b\u3089\u3063\u3066\u4fa1\u5024\u304c\u751f\u307f\u51fa\u305b\u308b\u3063\u3066\u308f\u3051\u3067\u3082\u306a\u3044\u306e\u3067\u3059\u304c\uff09<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 12pt;\">\u3061\u306a\u307f\u306b\u3001<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u5b6b\u3055\u3093\u306e\u30d7\u30ec\u30bc\u30f3\u306e\u4e2d\u3067\u306f\u682a\u4e3b\u4fa1\u5024\uff1d\u4fdd\u6709\u682a\u5f0f\u306eFair Value &#8211; Net Debt\u304c\u3001<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u30bd\u30d5\u30c8\u30d0\u30f3\u30af\u306e\u672c\u6765\u306e\u4fa1\u5024\u3060\u3068\u3057\u3066\u8aac\u660e\u3055\u308c\u3066\u3044\u307e\u3057\u305f\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 12pt;\">\u3053\u308c\u306b\u5bfe\u3057\u3066\u3001\u5b9f\u969b\u306e\u6642\u4fa1\u7dcf\u984d\u306f\u5927\u304d\u304f\u4e0b\u56de\u3063\u3066\u3044\u308b\u3068\u3044\u3046\u308f\u3051\u3067\u3059\u3002<\/span><\/p>\n<h2 style=\"text-align: center;\">\u4eca\u65e5\u306e\u304a\u52e7\u3081\u30a2\u30af\u30b7\u30e7\u30f3<\/h2>\n<p><span style=\"font-size: 12pt;\">\u4f55\u306b\u3057\u3066\u3082\u3001\u30bd\u30d5\u30c8\u30d0\u30f3\u30af\u306e\u6c7a\u7b97\u8aac\u660e\u4f1a\u306e\u5b6b\u6b63\u7fa9\u793e\u9577\u306e\u30d7\u30ec\u30bc\u30f3\u5185\u5bb9\u306f<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u8ca1\u52d9\u7684\u306b\u3082\u52c9\u5f37\u306b\u306a\u308b\u3057\u3001\u30d3\u30b8\u30cd\u30b9\u306e\u4eca\u5f8c\u306e\u65b9\u5411\u6027\u3092\u611f\u3058\u308b\u4e0a\u3067\u3082\u52c9\u5f37\u306b\u306a\u308b\u306e\u3067\u3001<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u305c\u3072\u307f\u3066\u3044\u305f\u3060\u304f\u3053\u3068\u3092\u304a\u52e7\u3081\u3057\u307e\u3059\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 12pt;\">AI\u3092\u4f7f\u3063\u3066\u3069\u3046\u3084\u3063\u3066\u30d3\u30b8\u30cd\u30b9\u3092\u62e1\u5927\u3057\u3066\u3044\u304f\u306e\u304b\uff1f<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u306b\u3064\u3044\u3066\u89aa\u5207\u306b\u5b6b\u793e\u9577\u81ea\u3089\u6559\u3048\u3066\u304f\u308c\u3066\u3044\u307e\u3059\u3002<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">https:\/\/webcast.softbank.jp\/ja\/detail\/video\/ref:20190509_01_ja<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 12pt;\">\u30b2\u30f3\u30bf<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u50d5\u306f\u5927\u5b66\u5352\u696d\u3057\u3066\u304b\u3089\u3082 \u30d7\u30e9\u30d7\u30e9\u3068\u30cb\u30fc\u30c8\u3092\u3057\u3066\u307e\u3057\u305f\u3002<\/span><\/p>\n<p><span style=\"font-size: 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12pt;\">\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u3092\u56de\u3057\u305f\u308a\u3001\u6d77\u5916\u51fa\u5f35\u306b\u3044\u304d\u307e\u304f\u308b\u306a\u3069\u3057\u307e\u3057\u305f\u3002<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u4eca\u3067\u306f\u6d77\u5916\u3067CFO\u3092\u3084\u3063\u3066\u3044\u307e\u3059\u3002<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u5e74\u53ce\u30821000\u4e07\u3092\u8d85\u3048\u307e\u3057\u305f\u3002<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u4eca\u5f8c\u306f\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u30b9\u30ad\u30eb\u3068\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u30b9\u30ad\u30eb\u3092\u6b66\u5668\u306b\u3057\u3066\u3001<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u4e0a\u5834\u4f01\u696d\u306eCFO\u306b\u306a\u3063\u3066\u30af\u30ea\u30a8\u30a4\u30c6\u30a3\u30d6\u306a\u4ed5\u4e8b\u3084\u308d\u3046\u3068\u65e5\u3005\u8272\u3005\u3068\u5b66\u3073\u3001\u884c\u52d5\u3057\u3066\u3044\u307e\u3059\u3002<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u3053\u306e\u30d6\u30ed\u30b0\u306e\u30b3\u30f3\u30bb\u30d7\u30c8\u306f\u3001 <a href=\"https:\/\/beyondthefinance.com\/?p=440\">&#8220;Beyond The Finance&#8221;<\/a> \u3068\u3044\u3044\u307e\u3059\u3002<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u306a\u3093\u3060\u305d\u308a\u3083\u3063\u3066\u304b\u3093\u3058\u3067\u3059\u3088\u306d\u3002<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u3082\u3046\u3061\u3087\u3063\u3068\u8a73\u3057\u304f\u307f\u3066\u3084\u308d\u3046\u304b\u306a\u3068\u601d\u3046\u65b9\u306f<a href=\"https:\/\/beyondthefinance.com\/?p=440\">\u3053\u3061\u3089<\/a>\u304b\u3089\u8aad\u3093\u3067\u304f\u3060\u3055\u3044\u3002<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u3053\u3093\u306b\u3061\u306f\u30b2\u30f3\u30bf\u3067\u3059\u3002  \u4eca\u65e5\u306f\u30bd\u30d5\u30c8\u30d0\u30f3\u30af\u306e\u6c7a\u7b97\u8aac\u660e\u4f1a\u306e\u52d5\u753b\u3092\u307f\u3066\u3044\u307e\u3057\u305f\u3002  \u305d\u306e\u4e2d\u306e\u5b6b\u6b63\u7fa9\u3055\u3093\u306e\u767a\u8a00\u3067\u3001 \u300c\u682a\u4e3b\u4fa1\u5024\u3092\u4e00\u756a\u91cd\u8996\u3057\u3066\u3044\u308b\u3002\u305d\u308c\u4ee5\u5916\u306f\u3042\u308b\u610f\u5473\u8a73\u7d30\u3067\u3059\u3002\u3042\u307e\u308a\u610f\u5473\u304c\u3042\u308a\u307e\u305b\u3093\u3002\u300d<\/p>\n","protected":false},"author":1,"featured_media":1699,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"_links":{"self":[{"href":"https:\/\/beyondthefinance.com\/index.php?rest_route=\/wp\/v2\/posts\/1690"}],"collection":[{"href":"https:\/\/beyondthefinance.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/beyondthefinance.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/beyondthefinance.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/beyondthefinance.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1690"}],"version-history":[{"count":7,"href":"https:\/\/beyondthefinance.com\/index.php?rest_route=\/wp\/v2\/posts\/1690\/revisions"}],"predecessor-version":[{"id":2613,"href":"https:\/\/beyondthefinance.com\/index.php?rest_route=\/wp\/v2\/posts\/1690\/revisions\/2613"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/beyondthefinance.com\/index.php?rest_route=\/wp\/v2\/media\/1699"}],"wp:attachment":[{"href":"https:\/\/beyondthefinance.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/beyondthefinance.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1690"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/beyondthefinance.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}