{"id":32163,"date":"2026-10-08T11:04:07","date_gmt":"2026-10-08T02:04:07","guid":{"rendered":"https:\/\/official.gfs.tokyo\/blog\/?p=32163"},"modified":"2026-10-08T11:04:07","modified_gmt":"2026-10-08T02:04:07","slug":"ue-the-theory-that-kabu-cannot-go-public","status":"publish","type":"post","link":"https:\/\/official.gfs.tokyo\/blog\/ue-the-theory-that-kabu-cannot-go-public","title":{"rendered":"\u300c\u30ab\u30d6\u30a2\u30f3\u30c9 \u4e0a\u5834\u3067\u304d\u306a\u3044\u300d\u8aac\u3092\u691c\u8a3c\uff1a1.2\u500d\u8cb7\u3044\u53d6\u308a\u306e\u843d\u3068\u3057\u7a74\u3068\u521d\u5fc3\u8005\u304c\u77e5\u308b\u3079\u304d\u91d1\u878d\u30ea\u30c6\u30e9\u30b7\u30fc"},"content":{"rendered":"<h2 data-path-to-node=\"0\">\u300c\u30ab\u30d6\u30a2\u30f3\u30c9 \u4e0a\u5834\u3067\u304d\u306a\u3044\u300d\u8aac\u3092\u691c\u8a3c\uff1a1.2\u500d\u8cb7\u3044\u53d6\u308a\u306e\u843d\u3068\u3057\u7a74\u3068\u521d\u5fc3\u8005\u304c\u77e5\u308b\u3079\u304d\u91d1\u878d\u30ea\u30c6\u30e9\u30b7\u30fc<\/h2>\n<div>\n<div class=\"attention a-1\">\n<p style=\"text-align: left;\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2022\/03\/yuichiro_ichikawa.jpg\" alt=\"\u76e3\u4fee\u8005\uff1a\u5e02\u5ddd\u96c4\u4e00\u90ce\" width=\"110\" height=\"110\" class=\"wp-image-2102 alignnone\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2022\/03\/yuichiro_ichikawa.jpg 700w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2022\/03\/yuichiro_ichikawa-300x300.jpg 300w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2022\/03\/yuichiro_ichikawa-150x150.jpg 150w\" sizes=\"(max-width: 110px) 100vw, 110px\" \/>\u3000<strong>\u76e3\u4fee\u8005\uff1a\u5e02\u5ddd\u96c4\u4e00\u90ce\u3000<\/strong><br \/>\n<span style=\"font-size: 10pt;\"><a href=\"https:\/\/official.gfs.tokyo\/\">GFS<\/a>\u6821\u9577\u3002CFP\u00ae\u30021\u7d1a\u30d5\u30a1\u30a4\u30ca\u30f3\u30b7\u30e3\u30eb\u30fb\u30d7\u30e9\u30f3\u30cb\u30f3\u30b0\u6280\u80fd\u58eb(\u8cc7\u7523\u8a2d\u8a08\u63d0\u6848\u696d\u52d9)\u3002<a href=\"https:\/\/www.jafp.or.jp\/\">\u65e5\u672cFP\u5354\u4f1a<\/a>\u4f1a\u54e1\u3002\u65e5\u672cFP\u5b66\u4f1a\u4f1a\u54e1\u3002\u00a0<a href=\"https:\/\/mba.globis.ac.jp\/\">\u30b0\u30ed\u30fc\u30d3\u30b9\u7d4c\u55b6\u5927\u5b66\u9662<\/a>\u4fee\u4e86(MBA\/\u7d4c\u55b6\u5b66\u4fee\u58eb)\u3002<\/span><br \/>\n<span style=\"font-size: 10pt;\">\u65e5\u672c\u306eFP\u306e\u5148\u99c6\u8005\u3068\u3057\u3066\u8cc7\u7523\u904b\u7528\u306e\u5553\u8499\u306b\u5f93\u4e8b\u3002\u30bd\u30d5\u30c8\u30d0\u30f3\u30af\u30b0\u30eb\u30fc\u30d7\u304c\u5275\u8a2d\u3057\u305f\u79c1\u7acb<a href=\"https:\/\/www.cyber-u.ac.jp\/teacher\/ichikawa_yuichiro.html\">\u30b5\u30a4\u30d0\u30fc\u5927\u5b66<\/a>\u3067\u6559\u97ad\u3092\u57f7\u308b\u307b\u304b\u3001\u8b1b\u6f14\u4f9d\u983c\u3001\u30e1\u30c7\u30a3\u30a2\u51fa\u6f14\u3082\u591a\u6570\u3002\u8457\u66f8\u306b<a href=\"https:\/\/www.amazon.co.jp\/%E6%8A%95%E8%B3%87%E3%81%A7%E5%88%A9%E7%9B%8A%E3%82%92%E5%87%BA%E3%81%97%E3%81%A6%E3%81%84%E3%82%8B%E4%BA%BA%E3%81%9F%E3%81%A1%E3%81%8C%E5%A4%A7%E4%BA%8B%E3%81%AB%E3%81%97%E3%81%A6%E3%81%84%E3%82%8B-45%E3%81%AE%E6%95%99%E3%81%88-%E5%B8%82%E5%B7%9D-%E9%9B%84%E4%B8%80%E9%83%8E\/dp\/4532358825\">\u300c\u6295\u8cc7\u3067\u5229\u76ca\u3092\u51fa\u3057\u3066\u3044\u308b\u4eba\u305f\u3061\u304c\u5927\u4e8b\u306b\u3057\u3066\u3044\u308b 45\u306e\u6559\u3048\u300d\uff08\u65e5\u672c\u7d4c\u6e08\u65b0\u805e\u51fa\u7248\uff09<\/a><\/span><\/p>\n<p style=\"text-align: left;\"><span style=\"font-size: 10pt;\">\u516c\u5f0fX \u30a2\u30ab\u30a6\u30f3\u30c8\u3000<a href=\"https:\/\/twitter.com\/ichikawa_toushi\">\u5e02\u5ddd\u96c4\u4e00\u90ce@\u304a\u91d1\u306e\u5b66\u6821 \u6821\u9577<\/a><\/span><\/p>\n<\/div>\n<\/div>\n<h2 data-path-to-node=\"4\">\u76ee\u6b21<\/h2>\n<ol start=\"1\" data-path-to-node=\"5\">\n<li>\n<p data-path-to-node=\"5,0,0\"><b data-path-to-node=\"5,0,0\" data-index-in-node=\"0\">\u306f\u3058\u3081\u306b\uff1a\u306a\u305c\u4eca\u300c\u30ab\u30d6\u30a2\u30f3\u30c9\u300d\u304c\u3053\u308c\u307b\u3069\u6ce8\u76ee\u3055\u308c\u3001\u540c\u6642\u306b\u61f8\u5ff5\u3055\u308c\u308b\u306e\u304b<\/b><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"5,1,0\"><b data-path-to-node=\"5,1,0\" data-index-in-node=\"0\">\u3010\u7b2c1\u7ae0\u3011\u30ab\u30d6\u30a2\u30f3\u30c9\u306e\u4ed5\u7d44\u307f\u3068\u300c3\u5e74\u8cb7\u53d6\u4fdd\u8a3c\u300d\u306e\u7cbe\u7dfb\u306a\u69cb\u9020\u89e3\u5256<\/b><\/p>\n<ul data-path-to-node=\"5,1,1\">\n<li>\n<p data-path-to-node=\"5,1,1,0,0\"><span>1-1.<\/span><span> \u672a\u516c\u958b\u682a\uff08\u7a2e\u985e\u682a\u5f0f\uff09\u3092\u30dd\u30a4\u6d3b\u611f\u899a\u3067\u914d\u308b\u30a4\u30ce\u30d9\u30fc\u30b7\u30e7\u30f3\u306e\u6b63\u4f53<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"5,1,1,1,0\"><span>1-2.<\/span><span> \u300c3\u5e74\u3067\u4e0a\u5834\u3067\u304d\u306a\u3051\u308c\u3070\u8cb7\u3044\u53d6\u308b\u300d\u30eb\u30fc\u30eb\u306e\u8a73\u7d30\u3068\u5951\u7d04\u4e0a\u306e\u30c8\u30e9\u30c3\u30d7<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"5,1,1,2,0\"><span>1-3.<\/span><span> \u6255\u8fbc\u91d1\u984d\u306e1.<\/span><span>2\u500d vs \u7b2c\u4e09\u8005\u8a55\u4fa1\u984d\uff1a\u300c\u3044\u305a\u308c\u304b\u4f4e\u3044\u65b9\u300d\u306e\u6570\u5b66\u7684\u30fb\u6cd5\u7684\u306a\u610f\u5473<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"5,1,1,3,0\"><span>1-4.<\/span><span> \u4f1a\u793e\u5074\u306e\u300c\u8cb7\u3044\u53d6\u308a\u539f\u8cc7\uff08\u30ad\u30e3\u30c3\u30b7\u30e5\uff09\u300d\u3068\u4fe1\u7528\u30ea\u30b9\u30af<\/span><\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>\n<p data-path-to-node=\"5,2,0\"><b data-path-to-node=\"5,2,0\" data-index-in-node=\"0\">\u3010\u7b2c2\u7ae0\u30112027\u5e74\u307e\u3067\u306b\u4e0a\u5834\uff08IPO\uff09\u3067\u304d\u308b\u306e\u304b\uff1f\u6771\u8a3c\u5be9\u67fb\u306e\u73fe\u5b9f\u3068\u30cf\u30fc\u30c9\u30eb<\/b><\/p>\n<ul data-path-to-node=\"5,2,1\">\n<li>\n<p data-path-to-node=\"5,2,1,0,0\"><span>2-1.<\/span><span> \u6771\u8a3c\u30b0\u30ed\u30fc\u30b9\u5e02\u5834\u306e\u4e0a\u5834\u57fa\u6e96\u3068\u73fe\u72b6\u306e\u8981\u6c42\u6c34\u6e96<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"5,2,1,1,0\"><span>2-2.<\/span><span> \u30cf\u30fc\u30c9\u30eb\u2460\uff1a\u5358\u72ec\u4e8b\u696d\u3068\u3057\u3066\u306e\u53ce\u76ca\u6027\u3068\u30d3\u30b8\u30cd\u30b9\u30e2\u30c7\u30eb\u306e\u6301\u7d9a\u6027<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"5,2,1,2,0\"><span>2-3.<\/span><span> \u30cf\u30fc\u30c9\u30eb\u2461\uff1a\u524d\u4f8b\u306e\u306a\u3044\u300c\u6570\u4e07\u4eba\u301c\u6570\u5341\u4e07\u4eba\u306e\u500b\u4eba\u682a\u4e3b\u300d\u7ba1\u7406\u30b3\u30b9\u30c8\u3068\u30b7\u30b9\u30c6\u30e0\u30ea\u30b9\u30af<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"5,2,1,3,0\"><span>2-4.<\/span><span> \u30cf\u30fc\u30c9\u30eb\u2462\uff1a\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30fb\u30ac\u30d0\u30ca\u30f3\u30b9\u3068\u76e3\u67fb\u6cd5\u4eba\u306b\u3088\u308b\u4f1a\u8a08\u76e3\u67fb\u306e\u58c1<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"5,2,1,4,0\"><span>2-5.<\/span><span> 2027\u5e7412\u6708\u307e\u3067\u306e\u30bf\u30a4\u30e0\u30e9\u30a4\u30f3\u691c\u8a3c\uff1a\u4e0a\u5834\u5ef6\u671f\u30b7\u30ca\u30ea\u30aa\u306e\u73fe\u5b9f\u5ea6<\/span><\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>\n<p data-path-to-node=\"5,3,0\"><b data-path-to-node=\"5,3,0\" data-index-in-node=\"0\">\u3010\u7b2c3\u7ae0\u3011\u4e0a\u5834\uff08IPO\uff09\u6210\u5426\u5225\uff1a\u30e6\u30fc\u30b6\u30fc\uff08\u682a\u4e3b\uff09\u304c\u5f97\u308b\u30e1\u30ea\u30c3\u30c8\u30fb\u88ab\u308b\u30c7\u30e1\u30ea\u30c3\u30c8<\/b><\/p>\n<ul data-path-to-node=\"5,3,1\">\n<li>\n<p data-path-to-node=\"5,3,1,0,0\"><span>3-1.<\/span><span> \u3010\u30b7\u30ca\u30ea\u30aaA\u3011\u7121\u4e8b\u306b2027\u5e74\u307e\u3067\u306b\u4e0a\u5834\u3067\u304d\u305f\u5834\u5408<\/span><\/p>\n<ul data-path-to-node=\"5,3,1,0,1\">\n<li>\n<p data-path-to-node=\"5,3,1,0,1,0,0\"><span>\u30e1\u30ea\u30c3\u30c8\uff1a\u30ad\u30e3\u30d4\u30bf\u30eb\u30b2\u30a4\u30f3\u3068\u682a\u5f0f\u306e\u81ea\u7531\u306a\u6d41\u52d5\u5316<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"5,3,1,0,1,1,0\"><span>\u30c7\u30e1\u30ea\u30c3\u30c8\u30fb\u6ce8\u610f\u70b9\uff1a\u516c\u52df\u4fa1\u683c\u5272\u308c\u30ea\u30b9\u30af\u3068\u7a0e\u5236\uff08\u78ba\u5b9a\u7533\u544a\uff09\u306e\u8907\u96d1\u3055<\/span><\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>\n<p data-path-to-node=\"5,3,1,1,0\"><span>3-2.<\/span><span> \u3010\u30b7\u30ca\u30ea\u30aaB\u30112027\u5e74\u307e\u3067\u306b\u4e0a\u5834\u3067\u304d\u306a\u304b\u3063\u305f\u5834\u5408<\/span><\/p>\n<ul data-path-to-node=\"5,3,1,1,1\">\n<li>\n<p data-path-to-node=\"5,3,1,1,1,0,0\"><span>\u30e1\u30ea\u30c3\u30c8\uff1a\u8cb7\u53d6\u5236\u5ea6\u306b\u3088\u308b\u6551\u6e08\u63aa\u7f6e\u306e\u53ef\u80fd\u6027<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"5,3,1,1,1,1,0\"><span>\u30c7\u30e1\u30ea\u30c3\u30c8\u30fb\u5371\u967a\u6027\uff1a\u8a55\u4fa1\u984d\u4f4e\u4e0b\u306b\u4f34\u3046\u5143\u672c\u5272\u308c\u30fb\u8cb7\u53d6\u4e0d\u80fd\u30ea\u30b9\u30af<\/span><\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li>\n<p data-path-to-node=\"5,4,0\"><b data-path-to-node=\"5,4,0\" data-index-in-node=\"0\">\u3010\u7b2c4\u7ae0\u3011\u5931\u6557\u3057\u306a\u3044\u305f\u3081\u306e\u300c\u91cd\u8981\u898b\u6975\u3081\u30dd\u30a4\u30f3\u30c84\u9078\u300d<\/b><\/p>\n<ul data-path-to-node=\"5,4,1\">\n<li>\n<p data-path-to-node=\"5,4,1,0,0\"><span>4-1.<\/span><span> \u30dd\u30a4\u30f3\u30c8\u2460\uff1a\u30b5\u30fc\u30d3\u30b9\u5358\u4f53\u306e\u300c\u9069\u6b63\u4fa1\u683c\u300d\u6bd4\u8f03\uff08\u30dd\u30a4\u30f3\u30c8\u76ee\u5f53\u3066\u306e\u672c\u672b\u8ee2\u5012\u3092\u9632\u3050\uff09<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"5,4,1,1,0\"><span>4-2.<\/span><span> \u30dd\u30a4\u30f3\u30c8\u2461\uff1a\u52df\u96c6\u671f\uff08\u7b2c1\u671f\u30fb\u7b2c2\u671f\u2026\uff09\u3054\u3068\u306e\u76ee\u8ad6\u898b\u66f8\u30fb\u682a\u4e3b\u898f\u7d04\u306e\u719f\u8aad<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"5,4,1,2,0\"><span>4-3.<\/span><span> \u30dd\u30a4\u30f3\u30c8\u2462\uff1a\u682a\u5f0f\u4f1a\u793e\u30ab\u30d6\uff06\u30d4\u30fc\u30b9\u306e\u8ca1\u52d9\u8af8\u8868\u30fb\u4f1a\u54e1\u6570\u30c7\u30fc\u30bf\u306e\u5b9a\u671f\u8ffd\u8de1<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"5,4,1,3,0\"><span>4-4.<\/span><span> \u30dd\u30a4\u30f3\u30c8\u2463\uff1a\u8a3c\u5238\u53e3\u5ea7\u958b\u8a2d\u30fbID\u9023\u643a\u30fb\u672c\u4eba\u78ba\u8a8d\u306e\u624b\u7d9a\u304d\u6f0f\u308c\u30ea\u30b9\u30af<\/span><\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>\n<p data-path-to-node=\"5,5,0\"><b data-path-to-node=\"5,5,0\" data-index-in-node=\"0\">\u3010\u7b2c5\u7ae0\u3011\u4f53\u7cfb\u7684\u306b\u5b66\u3076\uff01\u521d\u5fc3\u8005\u304c\u8eab\u306b\u3064\u3051\u308b\u3079\u304d\u91d1\u878d\u30fb\u6295\u8cc7\u306e\u77e5\u8b58<\/b><\/p>\n<ul data-path-to-node=\"5,5,1\">\n<li>\n<p data-path-to-node=\"5,5,1,0,0\"><span>5-1.<\/span><span> \u300c\u672a\u516c\u958b\u682a\u300d\u3068\u306f\u4f55\u304b\uff1f\u4e0a\u5834\u682a\u3068\u306e\u9055\u3044\u3068\u30ea\u30b9\u30af\u306e\u672c\u8cea\uff08\u6d41\u52d5\u6027\u30ea\u30b9\u30af\u30fb\u8a55\u4fa1\u96e3\u5ea6\uff09<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"5,5,1,1,0\"><span>5-2.<\/span><span> \u6295\u8cc7\u306e\u57fa\u672c\u539f\u5247\u300c\u30ea\u30b9\u30af\u3068\u30ea\u30bf\u30fc\u30f3\u306e\u30c8\u30ec\u30fc\u30c9\u30aa\u30d5\u300d\u3092\u30ab\u30d6\u30a2\u30f3\u30c9\u306b\u5f53\u3066\u306f\u3081\u308b<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"5,5,1,2,0\"><span>5-3.<\/span><span> \u8cc7\u7523\u5f62\u6210\u306e\u5168\u4f53\u50cf\uff1a\u30e1\u30a4\u30f3\uff08\u4f1d\u7d71\u7684\u8cc7\u7523\uff0bNISA\uff09\u3068\u30b5\u30d6\uff08\u30ab\u30d6\u30a2\u30f3\u30c9\u7b49\u306e\u30b5\u30c6\u30e9\u30a4\u30c8\uff09\u306e\u9069\u5207\u306a\u6bd4\u7387<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"5,5,1,3,0\"><span>5-4.<\/span><span> \u30ab\u30d6\u30a2\u30f3\u30c9\u30b7\u30df\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\uff1a\u4e0a\u5834\u6642\u3068\u975e\u4e0a\u5834\u6642\u306e\u8cc7\u7523\u63a8\u79fb\u6bd4\u8f03<\/span><\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>\n<p data-path-to-node=\"5,6,0\"><b data-path-to-node=\"5,6,0\" data-index-in-node=\"0\">\u304a\u308f\u308a\u306b\uff1a\u65b0\u6642\u4ee3\u306e\u91d1\u878d\u4f53\u9a13\u3068\u3069\u3046\u4ed8\u304d\u5408\u3063\u3066\u3044\u304f\u3079\u304d\u304b<\/b><\/p>\n<\/li>\n<\/ol>\n<h2 data-path-to-node=\"7\">1. \u306f\u3058\u3081\u306b\uff1a\u306a\u305c\u4eca\u300c\u30ab\u30d6\u30a2\u30f3\u30c9\u300d\u304c\u3053\u308c\u307b\u3069\u6ce8\u76ee\u3055\u308c\u3001\u540c\u6642\u306b\u61f8\u5ff5\u3055\u308c\u308b\u306e\u304b<\/h2>\n<p data-path-to-node=\"8\"><span>\u5b9f\u696d\u5bb6\u30fb\u524d\u6fa4\u53cb\u4f5c\u6c0f\u304c\u624b\u639b\u3051\u308b\u682a\u5f0f\u4f1a\u793e\u30ab\u30d6\uff06\u30d4\u30fc\u30b9\u306e\u30b5\u30fc\u30d3\u30b9\u300c\u30ab\u30d6\u30a2\u30f3\u30c9\u300d\u306f\u3001<\/span><span>\u65e5\u672c\u306e\u751f\u6d3b\u8005\u304a\u3088\u3073\u500b\u4eba\u6295\u8cc7\u5bb6\u306e\u9593\u3067\u6975\u3081\u3066\u5927\u304d\u306a\u30a4\u30f3\u30d1\u30af\u30c8\u3092\u4e0e\u3048\u307e\u3057\u305f\u3002<\/span><\/p>\n<p data-path-to-node=\"9\"><span>\u3053\u308c\u307e\u3067\u3001<\/span><span>\u96fb\u6c17\u30fb\u30ac\u30b9\u30fb\u643a\u5e2f\u96fb\u8a71\u30fb\u30d7\u30ed\u30d0\u30a4\u30c0\u30fc\u30fb\u4fdd\u967a\u30fb\u30af\u30ec\u30b8\u30c3\u30c8\u30ab\u30fc\u30c9\u3068\u3044\u3063\u305f\u751f\u6d3b\u30a4\u30f3\u30d5\u30e9\u306e\u5207\u308a\u66ff\u3048\u3084\u5229\u7528\u306b\u5bfe\u3057\u3066\u4ed8\u4e0e\u3055\u308c\u308b\u30ea\u30bf\u30fc\u30f3\u306f\u3001<\/span><span>\u300c\u5404\u7a2e\u30dd\u30a4\u30f3\u30c8\uff08T\u30dd\u30a4\u30f3\u30c8\u3001<\/span><span class=\"\">\u697d\u5929\u30dd\u30a4\u30f3\u30c8\u3001<\/span><span class=\"\">d\u30dd\u30a4\u30f3\u30c8\u7b49\uff09\u300d\u3084\u300c\u73fe\u91d1\u30ad\u30e3\u30c3\u30b7\u30e5\u30d0\u30c3\u30af\u300d\u304c\u5e38\u8b58\u3067\u3057\u305f\u3002<\/span><span>\u3057\u304b\u3057\u3001<\/span><span>\u30ab\u30d6\u30a2\u30f3\u30c9\u306f\u305d\u306e\u9084\u5143\u3068\u3057\u3066\u300c\u672a\u516c\u958b\u4f01\u696d\u306e\u682a\u5f0f\uff08\u7a2e\u985e\u682a\u5f0f\uff09\u300d\u3092\u4ed8\u4e0e\u3059\u308b\u3068\u3044\u3046\u3001<\/span><span>\u672a\u3060\u304b\u3064\u3066\u306a\u3044\u30d3\u30b8\u30cd\u30b9\u30e2\u30c7\u30eb\u3092\u63d0\u793a\u3057\u305f\u306e\u3067\u3059\u3002<\/span><\/p>\n<p data-path-to-node=\"10\"><span>\u30dd\u30a4\u6d3b\uff08\u30dd\u30a4\u30f3\u30c8\u6d3b\u52d5\uff09\u306e\u3088\u3046\u306b\u65e5\u5e38\u751f\u6d3b\u3092\u9001\u308b\u3060\u3051\u3067\u300c\u4f1a\u793e\u306e\u6240\u6709\u6a29\u306e\u4e00\u90e8\uff08\u682a\uff09\u300d\u304c\u624b\u306b\u5165\u308a\u3001<\/span><span>\u305d\u306e\u4f1a\u793e\u304c\u5c06\u6765\u4e0a\u5834\uff08IPO\uff09\u3059\u308c\u3070\u3001<\/span><span>\u30dd\u30a4\u30f3\u30c8\u9084\u5143\u3092\u306f\u308b\u304b\u306b\u51cc\u99d5\u3059\u308b\u5927\u304d\u306a\u8cc7\u7523\u4fa1\u5024\u3092\u624b\u306b\u5165\u308c\u3089\u308c\u308b\u304b\u3082\u3057\u308c\u306a\u3044\u2014\u2014\u3053\u306e\u5922\u306e\u3042\u308b\u30b9\u30c8\u30fc\u30ea\u30fc\u306f\u3001<\/span><span>\u591a\u304f\u306e\u4e00\u822c\u30e6\u30fc\u30b6\u30fc\u3092\u5f15\u304d\u4ed8\u3051\u307e\u3057\u305f\u3002<\/span><\/p>\n<p data-path-to-node=\"11\"><span>\u3057\u304b\u3057\u3001<\/span><span>\u305d\u306e\u4e00\u65b9\u3067\u91d1\u878d\u306e\u30d7\u30ed\u3084\u7d4c\u9a13\u8c4a\u5bcc\u306a\u6295\u8cc7\u5bb6\u3001<\/span><span>\u6cd5\u52d9\u5c02\u9580\u5bb6\u306e\u9593\u304b\u3089\u306f\u3001<\/span><span>\u4ee5\u4e0b\u306e\u3088\u3046\u306a\u53b3\u3057\u3044\u6307\u6458\u3084\u5f37\u3044\u61f8\u5ff5\u304c\u76f8\u6b21\u3044\u3067\u3044\u307e\u3059\u3002<\/span><\/p>\n<ul data-path-to-node=\"12\">\n<li>\n<p data-path-to-node=\"12,0,0\"><span>\u300c\u672a\u516c\u958b\u682a\u3092\u4e00\u822c\u500b\u4eba\u306b\u5e83\u304f\u914d\u308b\u30b9\u30ad\u30fc\u30e0\u306f\u3001<\/span><span>\u6cd5\u7684\u306b\u3069\u3046\u4fdd\u5168\u3055\u308c\u3066\u3044\u308b\u306e\u304b\uff1f\u300d<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"12,1,0\"><b data-path-to-node=\"12,1,0\" data-index-in-node=\"0\">\u300c\u672c\u5f53\u306b3\u301c4\u5e74\u3068\u3044\u3046\u77ed\u671f\u9593\u3067\u6771\u8a3c\u306a\u3069\u306e\u682a\u5f0f\u5e02\u5834\u306b\u4e0a\u5834\u3067\u304d\u308b\u306e\u304b\uff1f\u300d<\/b><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"12,2,0\"><b data-path-to-node=\"12,2,0\" data-index-in-node=\"0\">\u300c\u300e3\u5e74\u3067\u4e0a\u5834\u3067\u304d\u306a\u3051\u308c\u3070\u8cb7\u3044\u53d6\u308b\u300f\u3068\u3044\u3046\u4fdd\u8a3c\u306f\u3001\u672c\u5f53\u306b\u5143\u672c\u3092100%\u5b88\u3063\u3066\u304f\u308c\u308b\u306e\u304b\uff1f\u300d<\/b><\/p>\n<\/li>\n<\/ul>\n<p data-path-to-node=\"13\"><span>\u30cd\u30c3\u30c8\u4e0a\u3067\u306f\u300c\u30ab\u30d6\u30a2\u30f3\u30c9 \u4e0a\u5834\u3067\u304d\u306a\u3044\u300d\u300c\u30ab\u30d6\u30a2\u30f3\u30c9 \u8a50\u6b3a\u300d\u300c\u30ab\u30d6\u30a2\u30f3\u30c9 \u5143\u672c\u5272\u308c\u300d\u3068\u3044\u3063\u305f\u691c\u7d22\u30ef\u30fc\u30c9\u304c\u6025\u5897\u3057\u3066\u3044\u307e\u3059\u3002<\/span><\/p>\n<p data-path-to-node=\"14\"><span>\u672c\u8a18\u4e8b\u3067\u306f\u3001<\/span><span>\u611f\u60c5\u8ad6\u3084\u904e\u5ea6\u306a\u671f\u5f85\u3001<\/span><span>\u3042\u308b\u3044\u306f\u6839\u62e0\u306e\u306a\u3044\u6279\u5224\u3092\u6392\u3057\u3001<\/span><span>\u91d1\u878d\u30fb\u6cd5\u52d9\u30fb\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306e\u89b3\u70b9\u304b\u3089\u300c\u30ab\u30d6\u30a2\u30f3\u30c9\u300d\u306e\u69cb\u9020\u3092\u89e3\u5256\u3057\u307e\u3059\u3002<\/span><span>\u521d\u5fc3\u8005\u306e\u65b9\u3067\u3082\u5b8c\u5168\u306b\u7406\u89e3\u3067\u304d\u308b\u3088\u3046\u3001<\/span><span>\u8a00\u8449\u306e\u5b9a\u7fa9\u304b\u3089\u4e01\u5be7\u306b\u4f53\u7cfb\u7acb\u3066\u3066\u89e3\u8aac\u3057\u3066\u3044\u304d\u307e\u3059\u3002<\/span><\/p>\n<h2 data-path-to-node=\"16\">\u3010\u7b2c1\u7ae0\u3011\u30ab\u30d6\u30a2\u30f3\u30c9\u306e\u4ed5\u7d44\u307f\u3068\u300c3\u5e74\u8cb7\u53d6\u4fdd\u8a3c\u300d\u306e\u7cbe\u7dfb\u306a\u69cb\u9020\u89e3\u5256<\/h2>\n<h3 data-path-to-node=\"17\">1-1. \u672a\u516c\u958b\u682a\uff08\u7a2e\u985e\u682a\u5f0f\uff09\u3092\u30dd\u30a4\u6d3b\u611f\u899a\u3067\u914d\u308b\u30a4\u30ce\u30d9\u30fc\u30b7\u30e7\u30f3\u306e\u6b63\u4f53<\/h3>\n<p data-path-to-node=\"18\"><span>\u307e\u305a\u3001<\/span><span>\u30ab\u30d6\u30a2\u30f3\u30c9\u304c\u63d0\u4f9b\u3057\u3066\u3044\u308b\u30b5\u30fc\u30d3\u30b9\u306e\u6839\u5e79\u3092\u6574\u7406\u3057\u307e\u3057\u3087\u3046\u3002<\/span><\/p>\n<p data-path-to-node=\"19\"><span>\u30e6\u30fc\u30b6\u30fc\u304c\u30ab\u30d6\u30a2\u30f3\u30c9\u306e\u30d7\u30e9\u30c3\u30c8\u30d5\u30a9\u30fc\u30e0\u7d4c\u7531\u3067\u3001<\/span><span>\u4ee5\u4e0b\u306e\u30a4\u30f3\u30d5\u30e9\u30b5\u30fc\u30d3\u30b9\u3092\u5951\u7d04\u30fb\u5229\u7528\u3059\u308b\u3068\u3001<\/span><span>\u5229\u7528\u91d1\u984d\u306b\u5fdc\u3058\u305f\u300c\u682a\u5238\uff08\u767a\u884c\u3055\u308c\u308b\u682a\u5f0f\uff09\u300d\u306e\u4ed8\u4e0e\u6a29\u5229\u304c\u5f97\u3089\u308c\u307e\u3059\u3002<\/span><\/p>\n<ul data-path-to-node=\"20\">\n<li>\n<p data-path-to-node=\"20,0,0\"><b data-path-to-node=\"20,0,0\" data-index-in-node=\"0\">\u30ab\u30d6\u30a2\u30f3\u30c9\u96fb\u6c17<\/b><span>\uff08\u96fb\u529b\u306e\u5207\u308a\u66ff\u3048\uff09<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"20,1,0\"><b data-path-to-node=\"20,1,0\" data-index-in-node=\"0\">\u30ab\u30d6\u30a2\u30f3\u30c9\u30ac\u30b9<\/b><span>\uff08\u90fd\u5e02\u30ac\u30b9\u306e\u5207\u308a\u66ff\u3048\uff09<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"20,2,0\"><b data-path-to-node=\"20,2,0\" data-index-in-node=\"0\">\u30ab\u30d6\u30a2\u30f3\u30c9\u30e2\u30d0\u30a4\u30eb<\/b><span>\uff08\u683c\u5b89SIM\u30fb\u901a\u4fe1\u56de\u7dda\uff09<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"20,3,0\"><b data-path-to-node=\"20,3,0\" data-index-in-node=\"0\">\u30ab\u30d6\u30a2\u30f3\u30c9\u3072\u304b\u308a<\/b><span>\uff08\u56fa\u5b9a\u30d6\u30ed\u30fc\u30c9\u30d0\u30f3\u30c9\u56de\u7dda\uff09<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"20,4,0\"><b data-path-to-node=\"20,4,0\" data-index-in-node=\"0\">\u30ab\u30d6\u30a2\u30f3\u30c9\u30ab\u30fc\u30c9<\/b><span>\uff08\u63d0\u643a\u30af\u30ec\u30b8\u30c3\u30c8\u30ab\u30fc\u30c9\uff09<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"20,5,0\"><b data-path-to-node=\"20,5,0\" data-index-in-node=\"0\">\u30ab\u30d6\u30a2\u30f3\u30c9\u4fdd\u967a<\/b><span>\uff08\u5404\u7a2e\u640d\u5bb3\u4fdd\u967a\u30fb\u751f\u547d\u4fdd\u967a\u306e\u4ef2\u4ecb\uff09<\/span><\/p>\n<\/li>\n<\/ul>\n<p data-path-to-node=\"21\"><span>\u901a\u5e38\u3001<\/span><span>\u3053\u308c\u3089\u306e\u4e8b\u696d\u8005\u306f\u30e6\u30fc\u30b6\u30fc\u3092\u7372\u5f97\u3059\u308b\u305f\u3081\u306b\u591a\u984d\u306eWeb\u5e83\u544a\u8cbb\u3084\u6bd4\u8f03\u30b5\u30a4\u30c8\u3078\u306e\u51fa\u7a3f\u6599\u3092\u652f\u6255\u3063\u3066\u3044\u307e\u3059\u3002<\/span><span>\u30ab\u30d6\u30a2\u30f3\u30c9\u306f\u3001<\/span><span>\u305d\u306e\u9867\u5ba2\u7372\u5f97\u30b3\u30b9\u30c8\uff08CAC:<\/span><span> Customer Acquisition Cost\uff09\u3092\u81ea\u793e\u306e\u300c\u672a\u516c\u958b\u682a\u5f0f\u300d\u3068\u3044\u3046\u5f62\u306b\u5909\u63db\u3057\u3001<\/span><span>\u30e6\u30fc\u30b6\u30fc\u306b\u76f4\u63a5\u9084\u5143\u3057\u3066\u3044\u308b\u3068\u6349\u3048\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/span><\/p>\n<h4 data-path-to-node=\"22\">\u666e\u901a\u682a\u5f0f\u3068\u300c\u7a2e\u985e\u682a\u5f0f\u300d\u306e\u9055\u3044<\/h4>\n<p data-path-to-node=\"23\"><span>\u3053\u3053\u3067\u4ed8\u4e0e\u3055\u308c\u308b\u682a\u5f0f\u306f\u3001<\/span><span>\u4e00\u822c\u306e\u8b70\u6c7a\u6a29\uff08\u4f1a\u793e\u306e\u610f\u601d\u6c7a\u5b9a\u306b\u6295\u7968\u3059\u308b\u6a29\u5229\uff09\u3092\u6301\u3064\u666e\u901a\u682a\u5f0f\u3067\u306f\u306a\u304f\u3001<\/span><span>\u6cd5\u7684\u306b\u7570\u306a\u308b\u6a29\u5229\u6761\u4ef6\u304c\u4ed8\u4e0e\u3055\u308c\u305f\u300c\u7a2e\u985e\u682a\u5f0f\u300d\uff08\u4f1a\u793e\u6cd5\u7b2c108\u6761\u306b\u57fa\u3065\u304f\u682a\u5f0f\uff09\u3067\u3059\u3002<\/span><\/p>\n<p data-path-to-node=\"24\"><span>\u30ab\u30d6\u30a2\u30f3\u30c9\u3067\u4ed8\u4e0e\u3055\u308c\u308b\u7a2e\u985e\u682a\u5f0f\u306f\u3001<\/span><span>\u4e3b\u306b\u300c\u682a\u4e3b\u7dcf\u4f1a\u3067\u306e\u8b70\u6c7a\u6a29\u3092\u5236\u9650\u30fb\u7121\u8b70\u6c7a\u6a29\u3068\u3059\u308b\u4ee3\u308f\u308a\u306b\u3001<\/span><span>\u5c06\u6765\u306e\u4e0a\u5834\u6642\u3084\u8cb7\u53ce\u6642\u306b\u512a\u5148\u7684\u306a\u6271\u3044\u3092\u53d7\u3051\u308b\u3001<\/span><span>\u3042\u308b\u3044\u306f\u7279\u5b9a\u306e\u58f2\u5374\u6761\u4ef6\u304c\u4ed8\u52a0\u3055\u308c\u3066\u3044\u308b\u300d\u3068\u3044\u3046\u6027\u8cea\u3092\u6301\u3061\u307e\u3059\u3002<\/span><span>\u3053\u308c\u306f\u3001<\/span><span>\u4f55\u4e07\u4eba\u3082\u306e\u4e00\u822c\u30e6\u30fc\u30b6\u30fc\u304c\u682a\u4e3b\u7dcf\u4f1a\u306b\u62bc\u3057\u304b\u3051\u3066\u7d4c\u55b6\u304c\u7a7a\u8ee2\u3059\u308b\u306e\u3092\u9632\u3050\u305f\u3081\u306e\u3001<\/span><span>\u4f01\u696d\u5074\u306e\u5408\u7406\u7684\u306a\u6cd5\u52d9\u8a2d\u8a08\u3067\u3059\u3002<\/span><\/p>\n<h3 data-path-to-node=\"26\">1-2. \u300c3\u5e74\u3067\u4e0a\u5834\u3067\u304d\u306a\u3051\u308c\u3070\u8cb7\u3044\u53d6\u308b\u300d\u30eb\u30fc\u30eb\u306e\u8a73\u7d30\u3068\u5951\u7d04\u4e0a\u306e\u30c8\u30e9\u30c3\u30d7<\/h3>\n<p data-path-to-node=\"27\"><span>\u30ab\u30d6\u30a2\u30f3\u30c9\u306e\u6700\u5927\u306e\u58f2\u308a\u3067\u3042\u308a\u3001<\/span><span>\u540c\u6642\u306b\u6700\u3082\u8aa4\u89e3\u3092\u751f\u3093\u3067\u3044\u308b\u306e\u304c\u300c3\u5e74\u4ee5\u5185\u306b\u4e0a\u5834\u3067\u304d\u306a\u3051\u308c\u3070\u3001<\/span><span>\u4f1a\u793e\u304c\u682a\u3092\u8cb7\u3044\u53d6\u308b\u300d\u3068\u3044\u3046\u7d04\u675f\uff08\u8cb7\u53d6\u4fdd\u8a3c\u5236\u5ea6\uff09\u3067\u3059\u3002<\/span><\/p>\n<p data-path-to-node=\"28\"><span>\u3053\u306e\u30eb\u30fc\u30eb\u306e\u80cc\u666f\u306b\u306f\u3001<\/span><span>\u672a\u516c\u958b\u682a\u7279\u6709\u306e\u300c\u6d41\u52d5\u6027\u30ea\u30b9\u30af\uff08\u58f2\u308a\u305f\u304f\u3066\u3082\u8cb7\u624b\u304c\u306a\u3044\u305f\u3081\u73fe\u91d1\u5316\u3067\u304d\u306a\u3044\u30ea\u30b9\u30af\uff09\u300d\u306b\u5bfe\u3059\u308b\u30e6\u30fc\u30b6\u30fc\u306e\u5fc3\u7406\u7684\u30cf\u30fc\u30c9\u30eb\u3092\u4e0b\u3052\u308b\u72d9\u3044\u304c\u3042\u308a\u307e\u3059\u3002<\/span><\/p>\n<p data-path-to-node=\"29\"><span>\u516c\u5f0f\u306b\u793a\u3055\u308c\u3066\u3044\u308b\u5927\u67a0\u306e\u30eb\u30fc\u30eb\u306f\u4ee5\u4e0b\u306e\u901a\u308a\u3067\u3059\u3002<\/span><\/p>\n<ol start=\"1\" data-path-to-node=\"30\">\n<li>\n<p data-path-to-node=\"30,0,0\"><b data-path-to-node=\"30,0,0\" data-index-in-node=\"0\">\u671f\u9650\u306e\u6761\u4ef6\uff1a<\/b><span> \u52df\u96c6\u671f\uff08\u682a\u3092\u5f97\u305f\u6642\u671f\uff09\u304b\u3089\u8d77\u7b97\u3057\u30663\u5e74\u7d4c\u904e\u6642\u70b9\uff08\u3042\u308b\u3044\u306f2027\u5e7412\u670831\u65e5\u7b49\u306e\u6307\u5b9a\u671f\u65e5\uff09\u307e\u3067\u306b\u3001<\/span><span>\u65e5\u672c\u56fd\u5185\u306e\u91d1\u878d\u5546\u54c1\u53d6\u5f15\u6240\uff08\u6771\u4eac\u8a3c\u5238\u53d6\u5f15\u6240\u306a\u3069\uff09\u306b\u65b0\u898f\u4e0a\u5834\u3092\u679c\u305f\u305b\u306a\u304b\u3063\u305f\u5834\u5408\u3002<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"30,1,0\"><b data-path-to-node=\"30,1,0\" data-index-in-node=\"0\">\u8cb7\u53d6\u306e\u4e3b\u4f53\uff1a<\/b><span> \u767a\u884c\u4f53\u3067\u3042\u308b\u682a\u5f0f\u4f1a\u793e\u30ab\u30d6\uff06\u30d4\u30fc\u30b9\uff08\u307e\u305f\u306f\u6307\u5b9a\u3055\u308c\u305f\u6301\u682a\u4f1a\u793e\u30fb\u30d5\u30a1\u30f3\u30c9\uff09\u3002<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"30,2,0\"><b data-path-to-node=\"30,2,0\" data-index-in-node=\"0\">\u8cb7\u53d6\u306e\u7533\u8acb\uff1a<\/b><span> \u682a\u4e3b\uff08\u30e6\u30fc\u30b6\u30fc\uff09\u5074\u304c\u6a29\u5229\u3092\u884c\u4f7f\u3057\u3066\u8cb7\u53d6\u3092\u8acb\u6c42\u3059\u308b\u3002<\/span><\/p>\n<\/li>\n<\/ol>\n<p data-path-to-node=\"31\"><span>\u4e00\u898b\u3059\u308b\u3068\u3001<\/span><span>\u300c\u4e0a\u5834\u3059\u308c\u3070\u682a\u4fa1\u4e0a\u6607\u3067\u5132\u304b\u308a\u3001<\/span><span>\u4e0a\u5834\u3067\u304d\u306a\u304f\u3066\u3082\u5229\u56de\u308a\u4ed8\u304d\u3067\u73fe\u91d1\u304c\u623b\u3063\u3066\u304f\u308b\u5b8c\u74a7\u306a\u30ce\u30fc\u30ea\u30b9\u30af\u5546\u54c1\u300d\u306e\u3088\u3046\u306b\u898b\u3048\u307e\u3059\u3002<\/span><span>\u3057\u304b\u3057\u3001<\/span><span>\u91d1\u878d\u5951\u7d04\u306e\u7d30\u90e8\uff08\u30c7\u30a3\u30c6\u30fc\u30eb\uff09\u3092\u8aad\u307f\u89e3\u304f\u3068\u3001<\/span><span>\u5927\u304d\u306a\u898b\u843d\u3068\u3057\u304c\u6d6e\u304d\u5f6b\u308a\u306b\u306a\u308a\u307e\u3059\u3002<\/span><\/p>\n<h3 data-path-to-node=\"33\">1-3. \u6255\u8fbc\u91d1\u984d\u306e1.2\u500d vs \u7b2c\u4e09\u8005\u8a55\u4fa1\u984d\uff1a\u300c\u3044\u305a\u308c\u304b\u4f4e\u3044\u65b9\u300d\u306e\u6570\u5b66\u7684\u30fb\u6cd5\u7684\u306a\u610f\u5473<\/h3>\n<p data-path-to-node=\"34\"><span>\u8cb7\u53d6\u4fa1\u683c\u306e\u8a08\u7b97\u5f0f\u306b\u306f\u3001<\/span><span>\u6975\u3081\u3066\u91cd\u8981\u306a\u4f46\u3057\u66f8\u304d\u304c\u5b58\u5728\u3057\u307e\u3059\u3002<\/span><\/p>\n<div data-path-to-node=\"35\">\n<div class=\"math-block\" data-math=\"\\text{\u8cb7\u53d6\u4fa1\u683c} = \\min \\left( \\text{\u6255\u8fbc\u91d1\u984d} \\times 1.2 , \\quad \\text{\u7b2c\u4e09\u8005\u8a55\u4fa1\u984d} \\right)\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.26.46.png\" alt=\"\" width=\"569\" height=\"63\" class=\"aligncenter  wp-image-32249\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.26.46.png 938w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.26.46-300x33.png 300w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.26.46-768x85.png 768w\" sizes=\"(max-width: 569px) 100vw, 569px\" \/><\/div>\n<\/div>\n<p data-path-to-node=\"36\"><span>\u3064\u307e\u308a\u3001<\/span><strong>\u300c\u6255\u8fbc\u91d1\u984d\uff08\u53d6\u5f97\u6642\u306e\u682a\u4fa1\uff09\u306e1.2\u500d\uff0820%\u5897\u3057\uff09\u300d\u3068\u3001\u300c\u305d\u306e\u6642\u70b9\u3067\u5c02\u9580\u6a5f\u95a2\u304c\u7b97\u5b9a\u3057\u305f\u4f1a\u793e\u306e1\u682a\u3042\u305f\u308a\u8a55\u4fa1\u984d\u300d\u3092\u6bd4\u8f03\u3057\u3001<\/strong><span><strong>\u3010\u3044\u305a\u308c\u304b\u4f4e\u3044\u65b9\u306e\u91d1\u984d\u3011\u3067\u8cb7\u3044\u53d6\u3089\u308c\u308b\u3068\u3044\u3046\u6761\u4ef6<\/strong>\u3067\u3059\u3002<\/span><\/p>\n<p data-path-to-node=\"37\"><span>\u3053\u306e\u8ad6\u7406\u6761\u4ef6\u304c\u610f\u5473\u3059\u308b\u3068\u3053\u308d\u3092\u3001<\/span><span>\u5177\u4f53\u7684\u306a\u6570\u5024\u30b7\u30df\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u3067\u691c\u8a3c\u3057\u3066\u307f\u307e\u3057\u3087\u3046\u3002<\/span><\/p>\n<h4 data-path-to-node=\"38\">\u30b7\u30df\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u2460\uff1a\u696d\u7e3e\u304c\u9806\u8abf\u306b\u4f38\u3073\u305f\u304c\u3001\u4e0a\u5834\u306e\u307f\u9045\u308c\u305f\u5834\u5408<\/h4>\n<ul data-path-to-node=\"39\">\n<li>\n<p data-path-to-node=\"39,0,0\"><b data-path-to-node=\"39,0,0\" data-index-in-node=\"0\">\u53d6\u5f97\u6642\u306e\u6255\u8fbc\u91d1\u984d\uff08\u60f3\u5b9a\uff09\uff1a<\/b><span> 1\u682a = 1,<\/span><span>000\u5186<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"39,1,0\"><b data-path-to-node=\"39,1,0\" data-index-in-node=\"0\">1.2\u500d\u306e\u91d1\u984d\uff1a<\/b><span> 1,<\/span><span>200\u5186<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"39,2,0\"><b data-path-to-node=\"39,2,0\" data-index-in-node=\"0\">3\u5e74\u5f8c\u306e\u7b2c\u4e09\u8005\u8a55\u4fa1\u984d\uff1a<\/b><span> 1\u682a = 1,<\/span><span>500\u5186\uff08\u4e8b\u696d\u6210\u9577\u306b\u3088\u308a\u4f01\u696d\u4fa1\u5024\u5411\u4e0a\uff09<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"39,3,0\"><b data-path-to-node=\"39,3,0\" data-index-in-node=\"0\">\u9069\u7528\u3055\u308c\u308b\u8cb7\u53d6\u4fa1\u683c\uff1a<\/b><span> <\/span><b data-path-to-node=\"39,3,0\" data-index-in-node=\"11\">1,200\u5186<\/b><span>\uff08\u4f4e\u3044\u65b9\u3092\u9078\u629e\uff09<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"39,4,0\"><b data-path-to-node=\"39,4,0\" data-index-in-node=\"0\">\u7d50\u679c\uff1a<\/b><span> \u30e6\u30fc\u30b6\u30fc\u306f\u5e74\u5229\u63db\u7b97\u3067\u826f\u597d\u306a\u30ea\u30bf\u30fc\u30f3\uff08+20%\uff09\u3092\u5f97\u3066\u73fe\u91d1\u5316\u3067\u304d\u307e\u3059\u3002<\/span><\/p>\n<\/li>\n<\/ul>\n<h4 data-path-to-node=\"40\">\u30b7\u30df\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u2461\uff1a\u696d\u7e3e\u304c\u4f4e\u8ff7\u30fb\u60aa\u5316\u3057\u3001\u4e0a\u5834\u3082\u3067\u304d\u306a\u304b\u3063\u305f\u5834\u5408<\/h4>\n<ul data-path-to-node=\"41\">\n<li>\n<p data-path-to-node=\"41,0,0\"><b data-path-to-node=\"41,0,0\" data-index-in-node=\"0\">\u53d6\u5f97\u6642\u306e\u6255\u8fbc\u91d1\u984d\uff08\u60f3\u5b9a\uff09\uff1a<\/b><span> 1\u682a = 1,<\/span><span>000\u5186<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"41,1,0\"><b data-path-to-node=\"41,1,0\" data-index-in-node=\"0\">1.2\u500d\u306e\u91d1\u984d\uff1a<\/b><span> 1,<\/span><span>200\u5186<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"41,2,0\"><b data-path-to-node=\"41,2,0\" data-index-in-node=\"0\">3\u5e74\u5f8c\u306e\u7b2c\u4e09\u8005\u8a55\u4fa1\u984d\uff1a<\/b><span> 1\u682a = <\/span><b data-path-to-node=\"41,2,0\" data-index-in-node=\"17\">300\u5186<\/b><span>\uff08\u4f1a\u54e1\u6570\u306e\u4f38\u3073\u60a9\u307f\u3084\u8d64\u5b57\u62e1\u5927\u3067\u8a55\u4fa1\u66b4\u843d\uff09<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"41,3,0\"><b data-path-to-node=\"41,3,0\" data-index-in-node=\"0\">\u9069\u7528\u3055\u308c\u308b\u8cb7\u53d6\u4fa1\u683c\uff1a<\/b><span> <\/span><b data-path-to-node=\"41,3,0\" data-index-in-node=\"11\">300\u5186<\/b><span>\uff08\u4f4e\u3044\u65b9\u3092\u9078\u629e\uff09<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"41,4,0\"><b data-path-to-node=\"41,4,0\" data-index-in-node=\"0\">\u7d50\u679c\uff1a<\/b><span> <\/span><b data-path-to-node=\"41,4,0\" data-index-in-node=\"4\">\u6255\u8fbc\u91d1\u984d\u304b\u308970%\u306e\u640d\uff08\u5143\u672c\u5272\u308c\uff09\u304c\u767a\u751f\u3057\u307e\u3059\u3002<\/b><\/p>\n<\/li>\n<\/ul>\n<p data-path-to-node=\"0\"><response-element class=\"no-md\" ng-version=\"0.0.0-PLACEHOLDER\"><code-block _nghost-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-469 enable-luminous-code-block ng-star-inserted\"><\/code-block><\/response-element><\/p>\n<div _ngcontent-ng-c3974374368=\"\" class=\"code-block ng-tns-c3974374368-469 ng-animate-disabled ng-trigger ng-trigger-codeBlockRevealAnimation\" jslog=\"223238;track:impression,attention;BardVeMetadataKey:W1sicl82YmQ5MzRmZGY3N2YwMjQyIiwiY183OWY4YmVhNGYxYjJmYzM5IixudWxsLCJyY19kMjhhMGQ1Y2Y3YWM2YmNiIixudWxsLG51bGwsImphIixudWxsLDEsbnVsbCxudWxsLDAsMF1d\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"formatted-code-block-internal-container ng-tns-c3974374368-469\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"animated-opacity ng-tns-c3974374368-469\">\n<pre _ngcontent-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-469\"><code _ngcontent-ng-c3974374368=\"\" role=\"text\" data-test-id=\"code-content\" class=\"code-container formatted ng-tns-c3974374368-469 no-decoration-radius\">\u250c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2510\r\n\u2502                   3\u5e74\u5f8c\u306e\u8cb7\u53d6\u4fa1\u683c\u6c7a\u5b9a\u30e1\u30ab\u30cb\u30ba\u30e0                      \u2502\r\n\u251c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2524\r\n\u2502                                                                        \u2502\r\n\u2502 \u3010\u30d1\u30bf\u30fc\u30f3A\uff1a\u4f01\u696d\u4fa1\u5024\u304c\u4e0a\u6607\u3057\u305f\u5834\u5408\u3011                                  \u2502\r\n\u2502   \u30fb1.2\u500d\u306e\u4fa1\u683c\uff1a 1,200\u5186  \u25c4\u2500\u2500\u2500\u3010\u9069\u7528\uff08\u4f4e\u3044\u65b9\uff09\u3011                      \u2502\r\n\u2502   \u30fb\u7b2c\u4e09\u8005\u8a55\u4fa1\u984d\uff1a1,500\u5186                                              \u2502\r\n\u2502                                                                        \u2502\r\n\u2502 \u3010\u30d1\u30bf\u30fc\u30f3B\uff1a\u4f01\u696d\u4fa1\u5024\u304c\u4e0b\u843d\u3057\u305f\u5834\u5408\u3011                                  \u2502\r\n\u2502   \u30fb1.2\u500d\u306e\u4fa1\u683c\uff1a 1,200\u5186                                              \u2502\r\n\u2502   \u30fb\u7b2c\u4e09\u8005\u8a55\u4fa1\u984d\uff1a  300\u5186  \u25c4\u2500\u2500\u2500\u3010\u9069\u7528\uff08\u4f4e\u3044\u65b9\uff09\u3011\uff08\u5143\u672c\u5272\u308c\uff09            \u2502\r\n\u2502                                                                        \u2502\r\n\u2514\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2518\r\n<\/code><\/pre>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p data-path-to-node=\"43\"><span>\u3053\u306e\u300c\u3044\u305a\u308c\u304b\u4f4e\u3044\u65b9\u300d\u3068\u3044\u3046\u5951\u7d04\u69cb\u9020\u306f\u3001<\/span><b data-path-to-node=\"43\" data-index-in-node=\"20\">\u4f01\u696d\u5074\u306b\u3068\u3063\u3066\u306f\u4e0b\u632f\u308c\u30ea\u30b9\u30af\u3092\u6291\u5236\u3057\u3064\u3064\u4e0a\u5834\u3078\u306e\u30a4\u30f3\u30bb\u30f3\u30c6\u30a3\u30d6\u3092\u6b8b\u3059\u8a2d\u8a08\u3067\u3059\u304c\u3001\u6295\u8cc7\u5bb6\uff08\u30e6\u30fc\u30b6\u30fc\uff09\u306b\u3068\u3063\u3066\u306f\u300e\u30a2\u30c3\u30d7\u30b5\u30a4\u30c9\uff08\u4e0a\u6607\u76ca\uff09\u306f1.2\u500d\u306b\u30ad\u30e3\u30c3\u30d7\uff08\u4e0a\u9650\u8a2d\u5b9a\uff09\u3055\u308c\u3001\u30c0\u30a6\u30f3\u30b5\u30a4\u30c9\uff08\u4e0b\u843d\u640d\uff09\u306e\u30ea\u30b9\u30af\u306f\u5168\u9762\u7684\u306b\u8ca0\u3046\u300f\u3068\u3044\u3046\u975e\u5bfe\u79f0\u306a\u30ea\u30b9\u30af\u69cb\u9020<\/b><span>\u306b\u306a\u3063\u3066\u3044\u308b\u3053\u3068\u3092\u7406\u89e3\u3057\u306a\u3051\u308c\u3070\u306a\u308a\u307e\u305b\u3093\u3002<\/span><\/p>\n<h3 data-path-to-node=\"45\">1-4. \u4f1a\u793e\u5074\u306e\u300c\u8cb7\u3044\u53d6\u308a\u539f\u8cc7\uff08\u30ad\u30e3\u30c3\u30b7\u30e5\uff09\u300d\u3068\u4fe1\u7528\u30ea\u30b9\u30af<\/h3>\n<p data-path-to-node=\"46\"><span>\u3055\u3089\u306b\u6839\u672c\u7684\u306a\u30ea\u30b9\u30af\u3068\u3057\u3066\u3001<\/span><span>\u300c\u4fe1\u7528\u30ea\u30b9\u30af\uff08\u30c7\u30d5\u30a9\u30eb\u30c8\u30fb\u5012\u7523\u30ea\u30b9\u30af\uff09\u300d\u304c\u5b58\u5728\u3057\u307e\u3059\u3002<\/span><\/p>\n<p data-path-to-node=\"47\"><span>\u4eee\u306b2027\u5e74\u672b\u306b\u4e0a\u5834\u3067\u304d\u305a\u3001<\/span><span>\u6570\u5341\u4e07\u4eba\u306e\u30e6\u30fc\u30b6\u30fc\u304c\u4e00\u6589\u306b\u300c\u682a\u5f0f\u306e\u8cb7\u3044\u53d6\u308a\u300d\u3092\u8acb\u6c42\u3057\u305f\u3068\u3057\u307e\u3059\u3002<\/span><span>1\u4eba\u3042\u305f\u308a\u306e\u4fdd\u6709\u682a\u6570\u304c\u5e73\u57471\u4e07\u5186\u76f8\u5f53\u3060\u3068\u3057\u3066\u3082\u3001<\/span><span>10\u4e07\u4eba\u5206\u3067\u3042\u308c\u3070<\/span><b data-path-to-node=\"47\" data-index-in-node=\"80\">10\u5104\u5186\u306e\u73fe\u91d1<\/b><span>\u3001<\/span><span>100\u4e07\u4eba\u5206\u3067\u3042\u308c\u3070<\/span><b data-path-to-node=\"47\" data-index-in-node=\"98\">100\u5104\u5186\u306e\u73fe\u91d1<\/b><span>\u304c\u5fc5\u8981\u306b\u306a\u308a\u307e\u3059\u3002<\/span><\/p>\n<p data-path-to-node=\"48\"><span>\u682a\u5f0f\u4f1a\u793e\u30ab\u30d6\uff06\u30d4\u30fc\u30b9\u306e\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\uff08\u8cb8\u501f\u5bfe\u7167\u8868\uff09\u306b\u305d\u308c\u3060\u3051\u306e\u73fe\u9810\u91d1\u304c\u6b8b\u3063\u3066\u3044\u306a\u3051\u308c\u3070\u3001<\/span><span>\u3044\u304f\u3089\u5951\u7d04\u4e0a\u300c\u8cb7\u3044\u53d6\u308a\u307e\u3059\u300d\u3068\u66f8\u3044\u3066\u3042\u3063\u3066\u3082\u3001<\/span><span>\u7269\u7406\u7684\u306b\u8cb7\u3044\u53d6\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u305b\u3093\u3002<\/span><span>\u6700\u60aa\u306e\u5834\u5408\u3001<\/span><span>\u4f1a\u793e\u306e\u7834\u7dbb\u3084\u6c11\u4e8b\u518d\u751f\u624b\u7d9a\u3068\u306a\u308a\u3001<\/span><span>\u682a\u5f0f\u306e\u4fa1\u5024\u304c\u5b9f\u8cea\u30bc\u30ed\u306b\u306a\u308b\u53ef\u80fd\u6027\u3082\u8ad6\u7406\u7684\u306b\u306f\u5426\u5b9a\u3067\u304d\u306a\u3044\u306e\u3067\u3059\u3002<\/span><\/p>\n<div class=\"xcd-attention-6 xcd-col5 xcd-ripple\">\n<div class=\"xcd-title-wrap\">\n<div class=\"xcd-title\"><span>\u3042\u306a\u305f\u306b\u672c\u5f53\u306b\u9069\u3057\u305f\u6295\u8cc7\u306f\u3069\u308c\uff1f<\/span><\/div>\n<\/div>\n<div class=\"xcd-content\">\n<p><span style=\"font-size: 12pt;\"><strong>\u30fb\u6295\u8cc7\u3067\u53ce\u5165\u3092\u5f97\u305f\u3044\u3001\u8cc7\u7523\u3092\u5897\u3084\u3057\u305f\u3044\u3000YES or NO<\/strong><\/span><br \/>\n<span style=\"font-size: 12pt;\"><strong>\u30fb\u30ea\u30b9\u30af\u306f\u3067\u304d\u308b\u3060\u3051\u6291\u3048\u305f\u3044\u3000YES or NO<\/strong><\/span><br \/>\n<span style=\"font-size: 12pt;\"><strong>\u30fb\u6295\u8cc7\u5148\u306e\u898b\u6975\u3081\u65b9\u3092\u77e5\u308a\u305f\u3044\u3000YES or NO<\/strong><\/span><br \/>\n<span style=\"font-size: 12pt;\"><strong>\u30fb\u6210\u529f\u3057\u3066\u3044\u308b\u6295\u8cc7\u5bb6\u3068\u63a5\u70b9\u304c\u6b32\u3057\u3044\u3000YES or NO<\/strong><\/span><br \/>\n<span style=\"font-size: 12pt;\"><strong>\u30fb\u7269\u4fa1\u4e0a\u6607\u3078\u306e\u5bfe\u7b56\u306b\u306f\u6295\u8cc7\u304c\u5fc5\u8981\u3068\u8003\u3048\u3066\u3044\u308b\u3000YES or NO<\/strong><\/span><\/p>\n<p><span style=\"font-size: 14pt;\"><a href=\"https:\/\/toushi-up.com\/ow\/05.html?utm_source=article&amp;utm_medium=cta&amp;utm_content=ueoka\"><strong>\u2192\u3000YES\u304c\uff13\u3064\u4ee5\u4e0a\u3060\u3063\u305f\u65b9\u306f\u3001\u3053\u3061\u3089\u3092\u30af\u30ea\u30c3\u30af<\/strong><\/a><\/span><\/p>\n<\/div>\n<\/div>\n<h2 data-path-to-node=\"50\">\u3010\u7b2c2\u7ae0\u30112027\u5e74\u307e\u3067\u306b\u4e0a\u5834\uff08IPO\uff09\u3067\u304d\u308b\u306e\u304b\uff1f\u6771\u8a3c\u5be9\u67fb\u306e\u73fe\u5b9f\u3068\u30cf\u30fc\u30c9\u30eb<\/h2>\n<p data-path-to-node=\"51\"><span>\u30ab\u30d6\u30a2\u30f3\u30c9\u306e\u516c\u5f0f\u30ed\u30fc\u30c9\u30de\u30c3\u30d7\u3067\u306f\u3001<\/span><span>\u300c\u6700\u77ed\u30672026\u5e7410\u6708\u301c\u9045\u304f\u3068\u30822027\u5e7412\u6708\u307e\u3067\u306eIPO\uff08\u65b0\u898f\u4e0a\u5834\uff09\u300d\u3092\u76ee\u6307\u3059\u3068\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/span><\/p>\n<p data-path-to-node=\"52\"><span>\u3057\u304b\u3057\u3001<\/span><span>\u65e5\u672c\u306e\u682a\u5f0f\u5e02\u5834\uff08\u7279\u306b\u6771\u4eac\u8a3c\u5238\u53d6\u5f15\u6240\uff09\u306b\u304a\u3044\u3066\u65b0\u898f\u4e0a\u5834\u3092\u679c\u305f\u3059\u305f\u3081\u306b\u306f\u3001<\/span><span class=\"\">\u4e00\u822c\u7684\u306a\u611f\u899a\u3088\u308a\u3082\u306f\u308b\u304b\u306b\u9ad8\u3044\u58c1\u304c\u5b58\u5728\u3057\u307e\u3059\u3002<\/span><span class=\"\">\u3053\u3053\u3067\u306f\u3001<\/span><span class=\"\">\u30ab\u30d6\u30a2\u30f3\u30c9\u304c\u76f4\u9762\u3059\u308b3\u3064\u306e\u5de8\u5927\u306a\u30cf\u30fc\u30c9\u30eb\u3092\u5206\u6790\u3057\u307e\u3059\u3002<\/span><\/p>\n<p data-path-to-node=\"0\"><response-element class=\"no-md\" ng-version=\"0.0.0-PLACEHOLDER\"><code-block _nghost-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-470 enable-luminous-code-block ng-star-inserted\"><\/code-block><\/response-element><\/p>\n<div _ngcontent-ng-c3974374368=\"\" class=\"code-block ng-tns-c3974374368-470 ng-animate-disabled ng-trigger ng-trigger-codeBlockRevealAnimation\" jslog=\"223238;track:impression,attention;BardVeMetadataKey:W1sicl82YmQ5MzRmZGY3N2YwMjQyIiwiY183OWY4YmVhNGYxYjJmYzM5IixudWxsLCJyY19kMjhhMGQ1Y2Y3YWM2YmNiIixudWxsLG51bGwsImphIixudWxsLDEsbnVsbCxudWxsLDAsMF1d\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"formatted-code-block-internal-container ng-tns-c3974374368-470\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"animated-opacity ng-tns-c3974374368-470\">\n<pre _ngcontent-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-470\"><code _ngcontent-ng-c3974374368=\"\" role=\"text\" data-test-id=\"code-content\" class=\"code-container formatted ng-tns-c3974374368-470 no-decoration-radius\"><\/code><\/pre>\n<h3 data-path-to-node=\"6\">\u4e0a\u5834\uff08IPO\uff09\u306b\u5411\u3051\u305f\u6a19\u6e96\u7684\u30ed\u30fc\u30c9\u30de\u30c3\u30d7\u3068\u73fe\u5b9f\u7684\u306a\u5c55\u958b<\/h3>\n<pre _ngcontent-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-470\"><code _ngcontent-ng-c3974374368=\"\" role=\"text\" data-test-id=\"code-content\" class=\"code-container formatted ng-tns-c3974374368-470 no-decoration-radius\"><\/code><\/pre>\n<ul data-path-to-node=\"7\">\n<li>\n<p data-path-to-node=\"7,0,0\"><b data-path-to-node=\"7,0,0\" data-index-in-node=\"0\">\u30d5\u30a7\u30fc\u30ba1\uff1a\u30b5\u30fc\u30d3\u30b9\u958b\u59cb\u30fb\u521d\u671f\u30e6\u30fc\u30b6\u30fc\u7372\u5f97\uff082024\u5e74\u301c2025\u5e74\uff09<\/b><\/p>\n<p data-path-to-node=\"7,0,1\">\u30a4\u30f3\u30d5\u30e9\u30b5\u30fc\u30d3\u30b9\u306e\u5207\u308a\u66ff\u3048\u3092\u4e2d\u5fc3\u306b\u4f1a\u54e1\u6570\u3092\u62e1\u5927\u3057\u3001\u672a\u516c\u958b\u682a\uff08\u7a2e\u985e\u682a\u5f0f\uff09\u306e\u4ed8\u4e0e\u3092\u63a8\u3057\u9032\u3081\u307e\u3059\u3002\u540c\u6642\u306b\u5185\u90e8\u7ba1\u7406\u4f53\u5236\u306e\u69cb\u7bc9\u3092\u958b\u59cb\u3059\u308b\u521d\u671f\u30d5\u30a7\u30fc\u30ba\u3067\u3059\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"7,1,0\"><b data-path-to-node=\"7,1,0\" data-index-in-node=\"0\">\u30d5\u30a7\u30fc\u30ba2\uff1a\u76e3\u67fb\u6cd5\u4eba\u306b\u3088\u308b\u76f4\u524d2\u671f\u306e\u4f1a\u8a08\u76e3\u67fb\uff082025\u5e74\u301c2026\u5e74\uff09<\/b><\/p>\n<p data-path-to-node=\"7,1,1\">IPO\u7533\u8acb\u306b\u4e0d\u53ef\u6b20\u306a\u300c\u76f4\u524d2\u671f\uff08N-2\u671f\u30fbN-1\u671f\uff09\u300d\u306e\u9069\u6b63\u610f\u898b\u3092\u53d6\u5f97\u3059\u308b\u5fc5\u8981\u304c\u3042\u308b\u6700\u3082\u91cd\u8981\u306a\u6e96\u5099\u671f\u9593\u3067\u3059\u3002\u5185\u90e8\u7d71\u5236\u3084\u52b4\u52d9\u7ba1\u7406\u306e\u53b3\u683c\u5316\u304c\u6c42\u3081\u3089\u308c\u307e\u3059\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"7,2,0\"><b data-path-to-node=\"7,2,0\" data-index-in-node=\"0\">\u30d5\u30a7\u30fc\u30ba3\uff1a\u4e3b\u5e79\u4e8b\u8a3c\u5238\u4f1a\u793e\u306b\u3088\u308b\u5f15\u53d7\u5be9\u67fb \uff06 \u6771\u8a3c\u4e0a\u5834\u5be9\u67fb\uff082026\u5e74\u5f8c\u534a\u301c2027\u5e74\uff09<\/b><\/p>\n<p data-path-to-node=\"7,2,1\">\u4e3b\u5e79\u4e8b\u8a3c\u5238\u4f1a\u793e\u306b\u3088\u308b\u53b3\u6b63\u306a\u5f15\u53d7\u5be9\u67fb\u3092\u7d4c\u3066\u3001\u6771\u4eac\u8a3c\u5238\u53d6\u5f15\u6240\uff08\u30b0\u30ed\u30fc\u30b9\u5e02\u5834\u7b49\uff09\u3078\u4e0a\u5834\u7533\u8acb\u3092\u884c\u3044\u307e\u3059\u3002\u591a\u6570\u306e\u500b\u4eba\u682a\u4e3b\u7ba1\u7406\u30b9\u30ad\u30fc\u30e0\u3084\u696d\u7e3e\u306e\u518d\u73fe\u6027\u304c\u5fb9\u5e95\u7684\u306b\u30c1\u30a7\u30c3\u30af\u3055\u308c\u307e\u3059\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"7,3,0\"><b data-path-to-node=\"7,3,0\" data-index-in-node=\"0\">\u30d5\u30a7\u30fc\u30ba4\uff1a\u76ee\u6a19\u3068\u3059\u308bIPO\u671f\u9650\uff082027\u5e7412\u6708\u672b\uff09<\/b><\/p>\n<p data-path-to-node=\"7,3,1\">\u516c\u8868\u3055\u308c\u3066\u3044\u308b\u4e0a\u5834\u76ee\u6a19\u671f\u9650\u3067\u3059\u3002\u7121\u4e8b\u306bIPO\u3092\u679c\u305f\u305b\u3070\u5e02\u5834\u3067\u306e\u58f2\u5374\u304c\u53ef\u80fd\u306b\u306a\u308a\u3001\u672a\u4e0a\u5834\u306e\u307e\u307e\u3067\u3042\u308c\u3070\u300c3\u5e74\u8cb7\u53d6\u4fdd\u8a3c\u624b\u7d9a\u304d\u300d\u3078\u3068\u79fb\u884c\u3059\u308b\u5206\u5c90\u70b9\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<pre _ngcontent-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-470\"><code _ngcontent-ng-c3974374368=\"\" role=\"text\" data-test-id=\"code-content\" class=\"code-container formatted ng-tns-c3974374368-470 no-decoration-radius\">\r\n<\/code><\/pre>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<h3 data-path-to-node=\"54\">2-1. \u6771\u8a3c\u30b0\u30ed\u30fc\u30b9\u5e02\u5834\u306e\u4e0a\u5834\u57fa\u6e96\u3068\u73fe\u72b6\u306e\u8981\u6c42\u6c34\u6e96<\/h3>\n<p data-path-to-node=\"55\"><span>\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u4f01\u696d\u306e\u591a\u304f\u306f\u300c\u6771\u8a3c\u30b0\u30ed\u30fc\u30b9\u5e02\u5834\u300d\u3078\u306e\u4e0a\u5834\u3092\u76ee\u6307\u3057\u307e\u3059\u3002<\/span><span>\u6771\u8a3c\u30b0\u30ed\u30fc\u30b9\u5e02\u5834\u306e\u4e0a\u5834\u7dad\u6301\u30fb\u65b0\u898f\u4e0a\u5834\u57fa\u6e96\u306b\u306f\u3001<\/span><span>\u4ee5\u4e0b\u306e\u3088\u3046\u306a\u9805\u76ee\u304c\u542b\u307e\u308c\u307e\u3059\u3002<\/span><\/p>\n<ul data-path-to-node=\"56\">\n<li>\n<p data-path-to-node=\"56,0,0\"><b data-path-to-node=\"56,0,0\" data-index-in-node=\"0\">\u682a\u4e3b\u6570\uff1a<\/b><span> 150\u4eba\u4ee5\u4e0a\uff08\u30ab\u30d6\u30a2\u30f3\u30c9\u306f\u30e6\u30fc\u30b6\u30fc\u6570\u3067\u30af\u30ea\u30a2\u53ef\u80fd\uff09<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"56,1,0\"><b data-path-to-node=\"56,1,0\" data-index-in-node=\"0\">\u6d41\u901a\u682a\u5f0f\u6570\uff1a<\/b><span> 2,<\/span><span>000\u5358\u4f4d\u4ee5\u4e0a<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"56,2,0\"><b data-path-to-node=\"56,2,0\" data-index-in-node=\"0\">\u6642\u4fa1\u7dcf\u984d \/ \u6d41\u901a\u682a\u5f0f\u6642\u4fa1\u7dcf\u984d\uff1a<\/b><span> 5\u5104\u5186\u4ee5\u4e0a<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"56,3,0\"><b data-path-to-node=\"56,3,0\" data-index-in-node=\"0\">\u4e8b\u696d\u8a08\u753b\u306e\u5408\u7406\u6027\u3068\u9ad8\u3044\u6210\u9577\u53ef\u80fd\u6027<\/b><\/p>\n<\/li>\n<\/ul>\n<p data-path-to-node=\"57\"><span>\u5f62\u5f0f\u7684\u306a\u57fa\u6e96\uff08\u682a\u4e3b\u6570\u306a\u3069\uff09\u306f\u30af\u30ea\u30a2\u3057\u3084\u3059\u3044\u53cd\u9762\u3001<\/span><span>\u8fd1\u5e74\u3001<\/span><span>\u6771\u8a3c\u304a\u3088\u3073\u4e3b\u5e79\u4e8b\u8a3c\u5238\u4f1a\u793e\u306f\u300c\u5c0f\u7c92\u4e0a\u5834\u306e\u6291\u5236\u300d<\/span><b data-path-to-node=\"57\" data-index-in-node=\"49\">\u3068<\/b><span>\u300c\u4e0a\u5834\u5f8c\u306e\u6210\u9577\u6027\u306e\u53b3\u683c\u306a\u67fb\u5b9a\u300d\u3078\u3068\u8235\u3092\u5207\u3063\u3066\u3044\u307e\u3059\u3002<\/span><span>\u5358\u306b\u300c\u30e6\u30fc\u30b6\u30fc\u6570\u304c\u591a\u3044\u300d\u3068\u3044\u3046\u3060\u3051\u3067\u306f\u4e0a\u5834\u627f\u8a8d\u306f\u4e0b\u308a\u307e\u305b\u3093\u3002<\/span><\/p>\n<h3 data-path-to-node=\"59\">2-2. \u30cf\u30fc\u30c9\u30eb\u2460\uff1a\u5358\u72ec\u4e8b\u696d\u3068\u3057\u3066\u306e\u53ce\u76ca\u6027\u3068\u30d3\u30b8\u30cd\u30b9\u30e2\u30c7\u30eb\u306e\u6301\u7d9a\u6027<\/h3>\n<p data-path-to-node=\"60\"><span>\u7b2c\u4e00\u306e\u30cf\u30fc\u30c9\u30eb\u306f\u3001<\/span><span>\u300c\u4ee3\u7406\u5e97\u30fbOEM\u30d3\u30b8\u30cd\u30b9\u3068\u3057\u3066\u306e\u5229\u76ca\u7387\u3068\u7af6\u4e89\u529b\u300d\u3067\u3059\u3002<\/span><\/p>\n<p data-path-to-node=\"61\"><span>\u30ab\u30d6\u30a2\u30f3\u30c9\u81ea\u8eab\u304c\u81ea\u793e\u3067\u767a\u96fb\u6240\u3092\u6240\u6709\u3057\u305f\u308a\u3001<\/span><span>\u901a\u4fe1\u56de\u7dda\uff08\u57fa\u5730\u5c40\uff09\u3092\u81ea\u524d\u3067\u6577\u8a2d\u3057\u3066\u3044\u308b\u308f\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/span><span>\u65e2\u5b58\u306e\u96fb\u529b\u4f1a\u793e\u3084\u5927\u624b\u901a\u4fe1\u30ad\u30e3\u30ea\u30a2\u306e\u56de\u7dda\u3092\u501f\u308a\u53d7\u3051\u308b\u300cOEM\uff08\u76f8\u624b\u5148\u30d6\u30e9\u30f3\u30c9\u540d\u88fd\u9020\uff09\u300d\u3084\u300c\u8ca9\u58f2\u4ee3\u7406\u5e97\u300d\u306e\u5f62\u614b\u3092\u3068\u3063\u3066\u3044\u307e\u3059\u3002<\/span><\/p>\n<p data-path-to-node=\"62\"><span>\u4ee3\u7406\u5e97\u30e2\u30c7\u30eb\u306f\u81ea\u524d\u6295\u8cc7\u304c\u4e0d\u8981\u306a\u53cd\u9762\u3001<\/span><b data-path-to-node=\"62\" data-index-in-node=\"18\">\u539f\u4fa1\u7387\u304c\u9ad8\u304f\u3001\u7c97\u5229\u76ca\uff08\u58f2\u4e0a\u7dcf\u5229\u76ca\uff09\u304c\u4f4e\u304f\u306a\u308a\u3084\u3059\u3044<\/b><span>\u3068\u3044\u3046\u69cb\u9020\u7684\u5f31\u70b9\u3092\u6301\u3063\u3066\u3044\u307e\u3059\u3002<\/span><\/p>\n<ul data-path-to-node=\"63\">\n<li>\n<p data-path-to-node=\"63,0,0\"><span>\u30e6\u30fc\u30b6\u30fc\u306b\u4ed8\u4e0e\u3059\u308b\u300c\u682a\u306e\u30b3\u30b9\u30c8\u300d<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"63,1,0\"><span>\u5927\u898f\u6a21\u306a\u30c6\u30ec\u30d3CM\u3084Web\u5e83\u544a\u306a\u3069\u306e\u300c\u8ca9\u58f2\u4fc3\u9032\u8cbb\u300d<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"63,2,0\"><span>\u30b7\u30b9\u30c6\u30e0\u7dad\u6301\u8cbb\u30fb\u30ab\u30b9\u30bf\u30de\u30fc\u30b5\u30dd\u30fc\u30c8\u8cbb<\/span><\/p>\n<\/li>\n<\/ul>\n<p data-path-to-node=\"64\"><span>\u3053\u308c\u3089\u3092\u5dee\u3057\u5f15\u3044\u305f\u4e0a\u3067\u3001<\/span><span>\u300c\u4e00\u904e\u6027\u3067\u306f\u306a\u304f\u3001<\/span><span>\u6bce\u5e74\u7d99\u7d9a\u3057\u3066\u55b6\u696d\u5229\u76ca\u3092\u751f\u307f\u51fa\u305b\u308b\u69cb\u9020\u306b\u306a\u3063\u3066\u3044\u308b\u304b\u300d\u304c\u6771\u8a3c\u306e\u5be9\u67fb\u3067\u53b3\u3057\u304f\u554f\u308f\u308c\u307e\u3059\u3002<\/span><\/p>\n<p data-path-to-node=\"65\"><span>\u3082\u3057\u3001<\/span><span>\u300c\u682a\u304c\u3082\u3089\u3048\u308b\u304b\u3089\u5951\u7d04\u3057\u305f\u3051\u308c\u3069\u3001<\/span><span>\u9084\u5143\u7387\u304c\u4e0b\u304c\u3063\u305f\u3089\u4ed6\u793e\u306b\u4e57\u308a\u63db\u3048\u3089\u308c\u305f\u300d\u3068\u3044\u3046 churn rate\uff08\u9867\u5ba2\u89e3\u7d04\u7387\uff09\u304c\u9ad8\u3044\u30c7\u30fc\u30bf\u304c\u51fa\u3066\u3057\u307e\u3048\u3070\u3001<\/span><span>\u300c\u4e8b\u696d\u306e\u7d99\u7d9a\u6027\u306b\u7591\u554f\u3042\u308a\u300d\u3068\u5224\u5b9a\u3055\u308c\u3001<\/span><span>\u5be9\u67fb\u3067\u8df3\u306d\u8fd4\u3055\u308c\u308b\u30ea\u30b9\u30af\u304c\u9ad8\u307e\u308a\u307e\u3059\u3002<\/span><\/p>\n<h3 data-path-to-node=\"67\">2-3. \u30cf\u30fc\u30c9\u30eb\u2461\uff1a\u524d\u4f8b\u306e\u306a\u3044\u300c\u6570\u4e07\u4eba\u301c\u6570\u5341\u4e07\u4eba\u306e\u500b\u4eba\u682a\u4e3b\u300d\u7ba1\u7406\u30b3\u30b9\u30c8\u3068\u30b7\u30b9\u30c6\u30e0\u30ea\u30b9\u30af<\/h3>\n<p data-path-to-node=\"68\"><span>\u7b2c\u4e8c\u306e\u30cf\u30fc\u30c9\u30eb\u306f\u3001<\/span><span>\u300c\u682a\u5f0f\u7ba1\u7406\u30fb\u540d\u7fa9\u682a\u30fb\u30bb\u30ad\u30e5\u30ea\u30c6\u30a3\u306e\u81a8\u5927\u306a\u30b3\u30b9\u30c8\u300d\u3067\u3059\u3002<\/span><\/p>\n<p data-path-to-node=\"69\"><span>\u901a\u5e38\u3001<\/span><span>IPO\u3092\u76ee\u6307\u3059\u672a\u4e0a\u5834\u4f01\u696d\u306e\u682a\u4e3b\u6570\u306f\u3001<\/span><span>\u5275\u696d\u8005\u3001<\/span><span>\u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\uff08VC\uff09\u3001<\/span><span>\u5f93\u696d\u54e1\uff08\u30b9\u30c8\u30c3\u30af\u30aa\u30d7\u30b7\u30e7\u30f3\u4fdd\u6709\u8005\uff09\u306a\u3069\u3092\u5408\u308f\u305b\u3066\u3082<\/span><b data-path-to-node=\"69\" data-index-in-node=\"65\">\u6570\u4eba\u301c\u6570\u767e\u4eba\u7a0b\u5ea6<\/b><span>\u3067\u3059\u3002<\/span><\/p>\n<p data-path-to-node=\"70\"><span>\u3057\u304b\u3057\u30ab\u30d6\u30a2\u30f3\u30c9\u306e\u5834\u5408\u3001<\/span><span>\u672a\u4e0a\u5834\u306e\u6bb5\u968e\u3067<\/span><b data-path-to-node=\"70\" data-index-in-node=\"19\">\u6570\u4e07\u4eba\u301c\u6570\u5341\u4e07\u4eba\u306e\u500b\u4eba\u4e00\u822c\u30e6\u30fc\u30b6\u30fc\u304c\u682a\u4e3b<\/b><span>\u306b\u306a\u308a\u307e\u3059\u3002<\/span><span>\u3053\u308c\u306f\u65e5\u672c\u306e\u8a3c\u5238\u5e02\u5834\u306e\u6b74\u53f2\u4e0a\u3001<\/span><span>\u307b\u307c\u524d\u4f8b\u304c\u3042\u308a\u307e\u305b\u3093\u3002<\/span><\/p>\n<ul data-path-to-node=\"71\">\n<li>\n<p data-path-to-node=\"71,0,0\"><b data-path-to-node=\"71,0,0\" data-index-in-node=\"0\">\u540d\u7fa9\u66f8\u304d\u63db\u3048\u3068\u682a\u4e3b\u540d\u7c3f\u7ba1\u7406\uff1a<\/b><span> \u30e6\u30fc\u30b6\u30fc\u306e\u5f15\u3063\u8d8a\u3057\u3001<\/span><span>\u6539\u59d3\u3001<\/span><span>\u6b7b\u4ea1\u76f8\u7d9a\u306a\u3069\u306b\u4f34\u3046\u6a29\u5229\u79fb\u52d5\u3092\u6b63\u3057\u304f\u88dc\u8db3\u3067\u304d\u308b\u304b\uff1f<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"71,1,0\"><b data-path-to-node=\"71,1,0\" data-index-in-node=\"0\">\u672c\u4eba\u78ba\u8a8d\uff08KYC\uff09\u3068\u53cd\u793e\u4f1a\u52e2\u529b\u30c1\u30a7\u30c3\u30af\uff1a<\/b><span> \u682a\u4e3b\u306e\u4e2d\u306b\u53cd\u793e\u4f1a\u52e2\u529b\u3084\u30de\u30cd\u30fc\u30ed\u30f3\u30c0\u30ea\u30f3\u30b0\u95a2\u4fc2\u8005\u304c\u7d1b\u308c\u8fbc\u3093\u3067\u3044\u306a\u3044\u304b\u3001<\/span><span>\u5168\u4ef6\u30b9\u30af\u30ea\u30fc\u30cb\u30f3\u30b0\u3092\u884c\u3046\u7fa9\u52d9\u3002<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"71,2,0\"><b data-path-to-node=\"71,2,0\" data-index-in-node=\"0\">\u682a\u4e3b\u7dcf\u4f1a\u306e\u62db\u96c6\u901a\u77e5\u3068\u8b70\u6c7a\u6a29\u884c\u4f7f\uff1a<\/b><span> \u96fb\u5b50\u63d0\u4f9b\u5236\u5ea6\u3092\u6d3b\u7528\u3059\u308b\u3068\u3057\u3066\u3082\u3001<\/span><span>\u6570\u5341\u4e07\u540d\u3078\u306e\u30b7\u30b9\u30c6\u30e0\u901a\u77e5\u3068\u554f\u3044\u5408\u308f\u305b\u5bfe\u5fdc\u306e\u30b3\u30fc\u30eb\u30bb\u30f3\u30bf\u30fc\u4f53\u5236\u3002<\/span><\/p>\n<\/li>\n<\/ul>\n<p data-path-to-node=\"72\"><span>\u4e3b\u5e79\u4e8b\u8a3c\u5238\u4f1a\u793e\uff08\u91ce\u6751\u8b49\u5238\u3001<\/span><span>\u5927\u548c\u8a3c\u5238\u3001<\/span><span>SMBC\u65e5\u8208\u8a3c\u5238\u306a\u3069\uff09\u304a\u3088\u3073\u4fe1\u8a17\u9280\u884c\uff08\u682a\u4e3b\u540d\u7c3f\u7ba1\u7406\u4eba\uff09\u304c\u3001<\/span><span>\u3053\u306e\u672a\u66fe\u6709\u306e\u7ba1\u7406\u30aa\u30da\u30ec\u30fc\u30b7\u30e7\u30f3\u3092\u300c\u30b7\u30b9\u30c6\u30e0\u30ea\u30b9\u30af\u30fb\u30b3\u30f3\u30d7\u30e9\u30a4\u30a2\u30f3\u30b9\u30ea\u30b9\u30af\u306a\u3057\u3067\u904b\u7528\u3067\u304d\u308b\u300d\u3068\u8a8d\u3081\u308b\u304b\u3069\u3046\u304b\u304c\u3001<\/span><span>\u6975\u3081\u3066\u9ad8\u3044\u30cf\u30fc\u30c9\u30eb\u3068\u306a\u308a\u307e\u3059\u3002<\/span><\/p>\n<h3 data-path-to-node=\"74\">2-4. \u30cf\u30fc\u30c9\u30eb\u2462\uff1a\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30fb\u30ac\u30d0\u30ca\u30f3\u30b9\u3068\u76e3\u67fb\u6cd5\u4eba\u306b\u3088\u308b\u4f1a\u8a08\u76e3\u67fb\u306e\u58c1<\/h3>\n<p data-path-to-node=\"75\"><span>\u7b2c\u4e09\u306e\u30cf\u30fc\u30c9\u30eb\u306f\u3001<\/span><span>\u300c\u76e3\u67fb\u6cd5\u4eba\u306e\u9069\u6b63\u610f\u898b\u300d<\/span><b data-path-to-node=\"75\" data-index-in-node=\"20\">\u3068<\/b><span>\u300c\u5185\u90e8\u7d71\u5236\u300d\u3067\u3059\u3002<\/span><\/p>\n<p data-path-to-node=\"76\"><span>\u65b0\u898f\u4e0a\u5834\u3059\u308b\u305f\u3081\u306b\u306f\u3001<\/span><span>\u4e0a\u5834\u7533\u8acb\u524d\u306e\u6700\u4f4e2\u671f\uff08N-2\u671f\u3001<\/span><span>N-1\u671f\uff09\u306b\u3064\u3044\u3066\u3001<\/span><span>\u516c\u8a8d\u4f1a\u8a08\u58eb\u307e\u305f\u306f\u76e3\u67fb\u6cd5\u4eba\u306b\u3088\u308b\u53b3\u683c\u306a\u4f1a\u8a08\u76e3\u67fb\u3092\u53d7\u3051\u3001<\/span><span>\u300c\u7121\u9650\u5b9a\u9069\u6b63\u610f\u898b\u300d\u3092\u5f97\u308b\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/span><\/p>\n<p data-path-to-node=\"77\"><span>\u8fd1\u5e74\u3001<\/span><span>\u65e5\u672c\u306e\u76e3\u67fb\u6cd5\u4eba\u306f\u4eba\u624b\u4e0d\u8db3\u3068\u30b3\u30f3\u30d7\u30e9\u30a4\u30a2\u30f3\u30b9\u53b3\u683c\u5316\u306b\u4f34\u3044\u3001<\/span><span>\u65b0\u898f\u306eIPO\u76e3\u67fb\u3092\u5f15\u304d\u53d7\u3051\u308b\u30cf\u30fc\u30c9\u30eb\uff08\u3044\u308f\u3086\u308b\u300c\u76e3\u67fb\u96e3\u6c11\u554f\u984c\u300d\uff09\u3092\u975e\u5e38\u306b\u9ad8\u304f\u8a2d\u5b9a\u3057\u3066\u3044\u307e\u3059\u3002<\/span><\/p>\n<p data-path-to-node=\"78\"><span>\u300c\u30dd\u30a4\u30f3\u30c8\u9084\u5143\u3092\u672a\u516c\u958b\u682a\u5f0f\u3067\u51e6\u7406\u3059\u308b\u300d\u3068\u3044\u3046\u8907\u96d1\u306a\u4f1a\u8a08\u51e6\u7406\uff08\u8ca0\u50b5\u3068\u3057\u3066\u5f15\u5f53\u91d1\u3092\u7a4d\u3080\u306e\u304b\u3001<\/span><span>\u7d14\u8cc7\u7523\u306e\u79fb\u52d5\u3068\u3059\u308b\u306e\u304b\u7b49\uff09\u306b\u3064\u3044\u3066\u3001<\/span><span>\u76e3\u67fb\u6cd5\u4eba\u304c\u4f1a\u8a08\u57fa\u6e96\u4e0a\u306e\u6b63\u5f53\u6027\u3092\u8a8d\u3081\u3001<\/span><span>\u671f\u65e5\u901a\u308a\u306b\u76e3\u67fb\u5831\u544a\u66f8\u3092\u51fa\u3057\u3066\u304f\u308c\u308b\u304b\u3069\u3046\u304b\u304c\u3001<\/span><span>\u4e0a\u5834\u30b9\u30b1\u30b8\u30e5\u30fc\u30eb\u306e\u6700\u5927\u306e\u30dc\u30c8\u30eb\u30cd\u30c3\u30af\u306b\u306a\u308a\u5f97\u307e\u3059\u3002<\/span><\/p>\n<h3 data-path-to-node=\"80\">2-5. 2027\u5e7412\u6708\u307e\u3067\u306e\u30bf\u30a4\u30e0\u30e9\u30a4\u30f3\u691c\u8a3c\uff1a\u4e0a\u5834\u5ef6\u671f\u30b7\u30ca\u30ea\u30aa\u306e\u73fe\u5b9f\u5ea6<\/h3>\n<p data-path-to-node=\"81\"><span>\u4e00\u822c\u7684\u306aIPO\u6e96\u5099\u306b\u306f\u3001<\/span><span>\u3069\u3093\u306a\u306b\u6025\u3044\u3067\u3082<\/span><b data-path-to-node=\"81\" data-index-in-node=\"20\">\u6700\u4f4e3\u301c5\u5e74<\/b><span>\u304b\u304b\u308a\u307e\u3059\u3002<\/span><\/p>\n<ol start=\"1\" data-path-to-node=\"82\">\n<li>\n<p data-path-to-node=\"82,0,0\"><b data-path-to-node=\"82,0,0\" data-index-in-node=\"0\">N-3\u671f\u4ee5\u524d\uff1a<\/b><span> \u5185\u90e8\u7d71\u5236\u306e\u69cb\u7bc9\u3001<\/span><span>\u4e3b\u5e79\u4e8b\u8a3c\u5238\u4f1a\u793e\u30fb\u76e3\u67fb\u6cd5\u4eba\u306e\u9078\u5b9a<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"82,1,0\"><b data-path-to-node=\"82,1,0\" data-index-in-node=\"0\">N-2\u671f\uff1a<\/b><span> \u76e3\u67fb\u6cd5\u4eba\u306b\u3088\u308b\u30b7\u30e7\u30fc\u30c8\u30ec\u30d3\u30e5\u30fc\u3001<\/span><span>1\u671f\u76ee\u306e\u4f1a\u8a08\u76e3\u67fb<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"82,2,0\"><b data-path-to-node=\"82,2,0\" data-index-in-node=\"0\">N-1\u671f\uff1a<\/b><span> 2\u671f\u76ee\u306e\u4f1a\u8a08\u76e3\u67fb\u3001<\/span><span>\u4e88\u7b97\u7ba1\u7406\u4f53\u5236\u306e\u78ba\u7acb\u3001<\/span><span>\u4e88\u5b9f\u5dee\u306e\u89e3\u6d88<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"82,3,0\"><b data-path-to-node=\"82,3,0\" data-index-in-node=\"0\">\u7533\u8acb\u671f\uff08N\u671f\uff09\uff1a<\/b><span> \u6771\u8a3c\u3078\u306e\u4e0a\u5834\u7533\u8acb\u3001<\/span><span>\u5f15\u53d7\u5be9\u67fb\u3001<\/span><span>\u30d6\u30c3\u30af\u30d3\u30eb\u30c7\u30a3\u30f3\u30b0\u3001<\/span><span>\u4e0a\u5834\u627f\u8a8d<\/span><\/p>\n<\/li>\n<\/ol>\n<p data-path-to-node=\"83\"><span>2024\u5e74\u672b\u301c2025\u5e74\u521d\u982d\u306b\u304b\u3051\u3066\u672c\u683c\u59cb\u52d5\u3057\u305f\u30b5\u30fc\u30d3\u30b9\u304c\u3001<\/span><span>2027\u5e7412\u6708\uff08\u308f\u305a\u304b3\u5e74\u8db3\u3089\u305a\uff09\u3067\u4e0a\u5834\u5be9\u67fb\u3092\u3059\u3079\u3066\u901a\u904e\u3057\u516c\u958b\u4fa1\u683c\u304c\u4ed8\u304f\u78ba\u7387\u306f\u3001<\/span><span>\u5ba2\u89b3\u7684\u306aIPO\u7d71\u8a08\u304b\u3089\u898b\u308c\u3070\u300c\u304b\u306a\u308a\u30bf\u30a4\u30c8\u306a\u6311\u6226\u300d\u3068\u8a00\u308f\u3056\u308b\u3092\u5f97\u307e\u305b\u3093\u3002<\/span><\/p>\n<p data-path-to-node=\"84\"><span>\u904e\u53bb\u306e\u591a\u304f\u306e\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u3067\u3082\u3001<\/span><span>\u300c\u5f53\u521d\u4e88\u5b9a\u304b\u30891\u301c2\u5e74\u306e\u4e0a\u5834\u5ef6\u671f\u300d\u306f\u65e5\u5e38\u8336\u98ef\u4e8b\u3067\u3059\u3002<\/span><span>\u3057\u305f\u304c\u3063\u3066\u3001<\/span><b data-path-to-node=\"84\" data-index-in-node=\"48\">\u300c2027\u5e7412\u6708\u307e\u3067\u306b\u4e0a\u5834\u3067\u304d\u306a\u3044\u30b7\u30ca\u30ea\u30aa\u300d\u306f\u3001\u5341\u5206\u306b\u73fe\u5b9f\u7684\u306a\u53ef\u80fd\u6027\u3068\u3057\u3066\u60f3\u5b9a\u3057\u3066\u304a\u304f\u3079\u304d<\/b><span>\u306a\u306e\u3067\u3059\u3002<\/span><\/p>\n<h2 data-path-to-node=\"86\">\u3010\u7b2c3\u7ae0\u3011\u4e0a\u5834\uff08IPO\uff09\u6210\u5426\u5225\uff1a\u30e6\u30fc\u30b6\u30fc\uff08\u682a\u4e3b\uff09\u304c\u5f97\u308b\u30e1\u30ea\u30c3\u30c8\u30fb\u88ab\u308b\u30c7\u30e1\u30ea\u30c3\u30c8<\/h2>\n<p data-path-to-node=\"87\"><span>\u30e6\u30fc\u30b6\u30fc\u3068\u3057\u3066\u30ab\u30d6\u30a2\u30f3\u30c9\u306b\u53c2\u52a0\u3057\u305f\u5834\u5408\u3001<\/span><span>\u5c06\u6765\u7684\u306b\u3069\u306e\u3088\u3046\u306a\u30b7\u30ca\u30ea\u30aa\u304c\u8003\u3048\u3089\u308c\u308b\u3067\u3057\u3087\u3046\u304b\u3002<\/span><span>\u300c\u4e0a\u5834\u3067\u304d\u305f\u5834\u5408\u300d\u3068\u300c\u4e0a\u5834\u3067\u304d\u306a\u304b\u3063\u305f\u5834\u5408\u300d\u306e2\u3064\u306e\u672a\u6765\u3092\u5bfe\u6bd4\u3057\u3066\u6574\u7406\u3057\u307e\u3059\u3002<\/span><\/p>\n<h3 data-path-to-node=\"88\">3-1. \u3010\u30b7\u30ca\u30ea\u30aaA\u3011\u7121\u4e8b\u306b2027\u5e74\u307e\u3067\u306b\u4e0a\u5834\u3067\u304d\u305f\u5834\u5408<\/h3>\n<h4 data-path-to-node=\"89\">\u30e1\u30ea\u30c3\u30c8<\/h4>\n<ol start=\"1\" data-path-to-node=\"90\">\n<li>\n<p data-path-to-node=\"90,0,0\"><b data-path-to-node=\"90,0,0\" data-index-in-node=\"0\">\u682a\u5f0f\u306e\u6d41\u52d5\u5316\uff08\u73fe\u91d1\u5316\uff09\uff1a<\/b><span> \u8a3c\u5238\u53e3\u5ea7\u3092\u901a\u3058\u3066\u3001<\/span><span>\u3044\u3064\u3067\u3082\u5e02\u5834\u4fa1\u683c\u3067\u682a\u3092\u58f2\u5374\u3057\u3001<\/span><span>\u73fe\u91d1\u306b\u63db\u3048\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"90,1,0\"><b data-path-to-node=\"90,1,0\" data-index-in-node=\"0\">\u30ad\u30e3\u30d4\u30bf\u30eb\u30b2\u30a4\u30f3\uff08\u5024\u4e0a\u304c\u308a\u76ca\uff09\uff1a<\/b><span> \u4e0a\u5834\u6642\u306e\u521d\u5024\u3084\u305d\u306e\u5f8c\u306e\u682a\u4fa1\u304c\u3001<\/span><span>\u53d6\u5f97\u6642\u306e\u60f3\u5b9a\u767a\u884c\u4fa1\u683c\u3092\u5927\u304d\u304f\u4e0a\u56de\u308c\u3070\u3001<\/span><span>\u30dd\u30a4\u30f3\u30c8\u9084\u5143\u3068\u306f\u6bd4\u8f03\u306b\u306a\u3089\u306a\u3044\u307b\u3069\u5927\u304d\u306a\u30ea\u30bf\u30fc\u30f3\u3092\u5f97\u3089\u308c\u307e\u3059\u3002<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"90,2,0\"><b data-path-to-node=\"90,2,0\" data-index-in-node=\"0\">\u914d\u5f53\u91d1\u3084\u512a\u5f85\u306e\u53ef\u80fd\u6027\uff1a<\/b><span> \u5c06\u6765\u7684\u306b\u4f01\u696d\u304c\u6210\u9577\u3059\u308c\u3070\u3001<\/span><span>\u682a\u4e3b\u9084\u5143\u3068\u3057\u3066\u914d\u5f53\u91d1\u3092\u53d7\u3051\u53d6\u308c\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002<\/span><\/p>\n<\/li>\n<\/ol>\n<h4 data-path-to-node=\"91\">\u30c7\u30e1\u30ea\u30c3\u30c8\u30fb\u6ce8\u610f\u70b9<\/h4>\n<ol start=\"1\" data-path-to-node=\"92\">\n<li>\n<p data-path-to-node=\"92,0,0\"><b data-path-to-node=\"92,0,0\" data-index-in-node=\"0\">\u516c\u52df\u4fa1\u683c\u5272\u308c\uff08\u682a\u4fa1\u66b4\u843d\uff09\u306e\u30ea\u30b9\u30af\uff1a<\/b><span> \u4e0a\u5834\u3057\u305f\u77ac\u9593\u306b\u58f2\u308a\u5727\u529b\u304c\u5f37\u307e\u308a\u3001<\/span><span>\u682a\u4fa1\u304c\u6025\u843d\u3059\u308b\u30ea\u30b9\u30af\u304c\u3042\u308a\u307e\u3059\u3002<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"92,1,0\"><b data-path-to-node=\"92,1,0\" data-index-in-node=\"0\">\u7a0e\u91d1\u8a08\u7b97\u3068\u78ba\u5b9a\u7533\u544a\u306e\u7169\u96d1\u3055\uff1a<\/b><span> \u672a\u516c\u958b\u682a\u304b\u3089\u4e0a\u5834\u682a\u306b\u306a\u3063\u305f\u682a\u5f0f\u3092\u58f2\u5374\u3057\u305f\u5834\u5408\u3001<\/span><span>\u8b72\u6e21\u6240\u5f97\uff08\u4e00\u5f8b20.<\/span><span>315%\uff09\u306e\u8a08\u7b97\u304c\u5fc5\u8981\u3067\u3059\u3002<\/span><span>\u7279\u5b9a\u53e3\u5ea7\uff08\u6e90\u6cc9\u5fb4\u53ce\u3042\u308a\uff09\u306b\u30b9\u30e0\u30fc\u30ba\u306b\u79fb\u7ba1\u3067\u304d\u308b\u304b\u3069\u3046\u304b\u306e\u30b7\u30b9\u30c6\u30e0\u9023\u643a\u304c\u8ab2\u984c\u3068\u306a\u308a\u307e\u3059\u3002<\/span><\/p>\n<\/li>\n<\/ol>\n<h3 data-path-to-node=\"94\">3-2. \u3010\u30b7\u30ca\u30ea\u30aaB\u30112027\u5e74\u307e\u3067\u306b\u4e0a\u5834\u3067\u304d\u306a\u304b\u3063\u305f\u5834\u5408<\/h3>\n<h4 data-path-to-node=\"95\">\u30e1\u30ea\u30c3\u30c8<\/h4>\n<ol start=\"1\" data-path-to-node=\"96\">\n<li>\n<p data-path-to-node=\"96,0,0\"><b data-path-to-node=\"96,0,0\" data-index-in-node=\"0\">\u8cb7\u53d6\u4fdd\u8a3c\u306e\u884c\u4f7f\u6a29\u5229\uff1a<\/b><span> \u5951\u7d04\u306b\u57fa\u3065\u304d\u3001<\/span><span>\u4f1a\u793e\u306b\u5bfe\u3057\u3066\u682a\u5f0f\u306e\u8cb7\u3044\u53d6\u308a\u3092\u8acb\u6c42\u3067\u304d\u307e\u3059\u3002<\/span><\/p>\n<\/li>\n<\/ol>\n<h4 data-path-to-node=\"97\">\u30c7\u30e1\u30ea\u30c3\u30c8\u30fb\u5371\u967a\u6027<\/h4>\n<ol start=\"1\" data-path-to-node=\"98\">\n<li>\n<p data-path-to-node=\"98,0,0\"><b data-path-to-node=\"98,0,0\" data-index-in-node=\"0\">\u7b2c\u4e09\u8005\u8a55\u4fa1\u984d\u306e\u4f4e\u4e0b\u306b\u3088\u308b\u5143\u672c\u5272\u308c\uff1a<\/b><span> \u7b2c1\u7ae0\u3067\u89e3\u8aac\u3057\u305f\u901a\u308a\u3001<\/span><span>\u8a55\u4fa1\u984d\u304c\u4e0b\u304c\u3063\u3066\u3044\u308c\u3070\u300c1.<\/span><span>2\u500d\u300d\u3067\u306f\u306a\u304f\u300c\u4f4e\u3044\u65b9\u306e\u8a55\u4fa1\u984d\u300d\u3067\u8cb7\u3044\u53d6\u3089\u308c\u308b\u305f\u3081\u3001<\/span><span>\u5927\u304d\u306a\u4e0b\u843d\u640d\u3092\u53d7\u3051\u5165\u308c\u308b\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"98,1,0\"><b data-path-to-node=\"98,1,0\" data-index-in-node=\"0\">\u8cb7\u3044\u53d6\u308a\u306e\u5b9f\u884c\u4e0d\u5168\uff08\u4fe1\u7528\u30ea\u30b9\u30af\uff09\uff1a<\/b><span> \u4f1a\u793e\u306e\u8cc7\u91d1\u304c\u67af\u6e07\u3057\u3066\u3044\u308c\u3070\u3001<\/span><span>\u8cb7\u53d6\u8acb\u6c42\u3092\u3057\u3066\u3082\u73fe\u91d1\u304c\u632f\u308a\u8fbc\u307e\u308c\u306a\u3044\u30ea\u30b9\u30af\u304c\u3042\u308a\u307e\u3059\u3002<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"98,2,0\"><b data-path-to-node=\"98,2,0\" data-index-in-node=\"0\">\u7121\u671f\u9650\u306e\u300c\u5869\u6f2c\u3051\u300d\uff1a<\/b><span> \u4f1a\u793e\u304c\u89e3\u6563\u3082\u8cb7\u53ce\u3082\u3055\u308c\u305a\u3001<\/span><span>\u8cb7\u3044\u53d6\u308a\u3082\u62d2\u5426\u307e\u305f\u306f\u9045\u5ef6\u3055\u308c\u305f\u5834\u5408\u3001<\/span><span>\u58f2\u308b\u306b\u58f2\u308c\u306a\u3044\u4fa1\u5024\u4e0d\u660e\u306e\u682a\u5f0f\u3092\u6c38\u4e45\u306b\u62b1\u3048\u7d9a\u3051\u308b\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002<\/span><\/p>\n<\/li>\n<\/ol>\n<div class=\"xcd-attention-1 xcd-col2 xcd-ripple\">\n<div class=\"xcd-title\"><strong>\u8cc7\u7523\u904b\u7528\u3067\u5931\u6557\u3057\u305f\u304f\u306a\u3044\u65b9\u3078<\/strong><\/div>\n<div class=\"xcd-content\"><strong>\u79c1\u305f\u3061GFS\u3067\u306f\u3001\u5b66\u6821\u3067\u306f\u6559\u3048\u3066\u3082\u3089\u3048\u306a\u304b\u3063\u305f\u304a\u91d1\u306e\u3053\u3068\u304c\u308f\u304b\u308b\u7121\u6599\u30b3\u30f3\u30c6\u30f3\u30c4\u3092\u3054\u7528\u610f\u3057\u3066\u3044\u307e\u3059\u3002<\/strong><br \/>\n<strong><span style=\"color: #0066c0;\"><a href=\"https:\/\/toushi-up.com\/ow\/05.html?utm_source=article&amp;utm_medium=cta&amp;utm_content=ueoka\" style=\"color: #0066c0;\">\u226b \u7121\u6599\u8b1b\u5ea7\uff1a\u304a\u91d1\u306e\u30d7\u30ed\u304c\u6559\u3048\u308b\u300c\u521d\u5fc3\u8005\u304c\u6bce\u6708\u53ce\u5165\u3092\u5f97\u308b\u6295\u8cc7\u306e\u59cb\u3081\u65b9\u300d<\/a><\/span><\/strong><\/div>\n<\/div>\n<h2 data-path-to-node=\"100\">\u3010\u7b2c4\u7ae0\u3011\u5931\u6557\u3057\u306a\u3044\u305f\u3081\u306e\u300c\u91cd\u8981\u898b\u6975\u3081\u30dd\u30a4\u30f3\u30c84\u9078\u300d<\/h2>\n<p data-path-to-node=\"101\"><span>\u30ab\u30d6\u30a2\u30f3\u30c9\u3092\u8ce2\u304f\u5229\u7528\u3057\u3001<\/span><span>\u4e0d\u5fc5\u8981\u306a\u640d\u5931\u3092\u9632\u3050\u305f\u3081\u306b\u3001<\/span><span>\u4e00\u822c\u30e6\u30fc\u30b6\u30fc\u304c\u4eca\u3059\u3050\u30c1\u30a7\u30c3\u30af\u3059\u3079\u304d\u300c4\u3064\u306e\u898b\u6975\u3081\u30dd\u30a4\u30f3\u30c8\u300d\u3092\u89e3\u8aac\u3057\u307e\u3059\u3002<\/span><\/p>\n<h3 data-path-to-node=\"102\">\u30dd\u30a4\u30f3\u30c8\u2460\uff1a\u30b5\u30fc\u30d3\u30b9\u5358\u4f53\u306e\u300c\u9069\u6b63\u4fa1\u683c\u300d\u6bd4\u8f03\uff08\u672c\u672b\u8ee2\u5012\u3092\u9632\u3050\uff09<\/h3>\n<p data-path-to-node=\"103\"><span>\u6700\u3082\u91cd\u8981\u306a\u539f\u5247\u306f\u3001<\/span><span>\u300c\u682a\u5f0f\uff08\u304a\u307e\u3051\uff09\u306e\u9b45\u529b\u306b\u76ee\u3092\u596a\u308f\u308c\u3066\u3001<\/span><span>\u672c\u696d\u306e\u30b5\u30fc\u30d3\u30b9\u6599\u91d1\u3067\u640d\u3092\u3057\u306a\u3044\u3053\u3068\u300d\u3067\u3059\u3002<\/span><\/p>\n<p data-path-to-node=\"104\"><span>\u305f\u3068\u3048\u3070\u3001<\/span><span>\u30ab\u30d6\u30a2\u30f3\u30c9\u96fb\u6c17\u3084\u30ab\u30d6\u30a2\u30f3\u30c9\u30e2\u30d0\u30a4\u30eb\u306e\u6708\u984d\u6599\u91d1\u304c\u3001<\/span><span>\u4ed6\u793e\u306e\u683c\u5b89SIM\u3084\u5927\u624b\u96fb\u529b\u4f1a\u793e\u3088\u308a\u6708\u984d2,<\/span><span>000\u5186\u9ad8\u304b\u3063\u305f\u3068\u3057\u307e\u3059\u3002<\/span><\/p>\n<ul data-path-to-node=\"105\">\n<li>\n<p data-path-to-node=\"105,0,0\"><b data-path-to-node=\"105,0,0\" data-index-in-node=\"0\">\u5e74\u9593\u5dee\u984d\uff1a<\/b><span> 2,<\/span><span>000\u5186 \u00d7 12\u30f6\u6708 = <\/span><b data-path-to-node=\"105,0,0\" data-index-in-node=\"22\">24,000\u5186\u306e\u30b3\u30b9\u30c8\u5897<\/b><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"105,1,0\"><b data-path-to-node=\"105,1,0\" data-index-in-node=\"0\">3\u5e74\u9593\u3067\u306e\u4f59\u5206\u306a\u652f\u6255\u7dcf\u984d\uff1a<\/b><span> <\/span><b data-path-to-node=\"105,1,0\" data-index-in-node=\"14\">72,000\u5186<\/b><\/p>\n<\/li>\n<\/ul>\n<p data-path-to-node=\"106\"><span>\u3082\u30573\u5e74\u5f8c\u306b\u4e0a\u5834\u3067\u304d\u305a\u3001<\/span><span>\u53d7\u3051\u53d6\u3063\u305f\u682a\u306e\u4fa1\u5024\u304c\u6570\u5343\u5186\u7a0b\u5ea6\u306b\u3057\u304b\u306a\u3089\u306a\u304b\u3063\u305f\u5834\u5408\u3001<\/span><span>\u300c\u9ad8\u3044\u30a4\u30f3\u30d5\u30e9\u6599\u91d1\u3092\u6255\u3044\u7d9a\u3051\u305f\u5206\u3060\u3051\u3001<\/span><span>\u30c8\u30fc\u30bf\u30eb\u3067\u6570\u4e07\u5186\u306e\u8d64\u5b57\u306b\u306a\u3063\u305f\u300d\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002<\/span><\/p>\n<blockquote data-path-to-node=\"107\" class=\"\">\n<p data-path-to-node=\"107,0\"><b data-path-to-node=\"107,0\" data-index-in-node=\"3\">\u30c1\u30a7\u30c3\u30af\u30a2\u30af\u30b7\u30e7\u30f3\uff1a<\/b><\/p>\n<p data-path-to-node=\"107,1\">\u30ab\u30d6\u30a2\u30f3\u30c9\u306b\u5207\u308a\u66ff\u3048\u308b\u524d\u306b\u3001\u73fe\u5728\u5951\u7d04\u3057\u3066\u3044\u308b\u300c\u65e2\u5b58\u306e\u96fb\u6c17\u30fb\u901a\u4fe1\u6599\u91d1\u300d\u3068\u300c\u30ab\u30d6\u30a2\u30f3\u30c9\u306e\u6599\u91d1\u300d\u3092\u7d14\u7c8b\u306b\u6bd4\u8f03\u3057\u3066\u304f\u3060\u3055\u3044\u3002<b data-path-to-node=\"107,1\" data-index-in-node=\"58\">\u300c\u4ed6\u793e\u3068\u540c\u7b49\u304b\u305d\u308c\u4ee5\u4e0a\u306b\u5b89\u3044\u300d\u5834\u5408\u306e\u307f\u3001\u3082\u3089\u3048\u308b\u682a\u306f\u7d14\u7c8b\u306a\u30d7\u30e9\u30b9\u306e\u30d7\u30ec\u30df\u30a2\u30e0\uff08\u304a\u307e\u3051\uff09\u306b\u306a\u308a\u307e\u3059\u3002<\/b><\/p>\n<\/blockquote>\n<h3 data-path-to-node=\"109\">\u30dd\u30a4\u30f3\u30c8\u2461\uff1a\u52df\u96c6\u671f\uff08\u7b2c1\u671f\u30fb\u7b2c2\u671f\u2026\uff09\u3054\u3068\u306e\u76ee\u8ad6\u898b\u66f8\u30fb\u682a\u4e3b\u898f\u7d04\u306e\u719f\u8aad<\/h3>\n<p data-path-to-node=\"110\"><span>\u672a\u516c\u958b\u682a\u5f0f\u306e\u767a\u884c\u306b\u3042\u305f\u3063\u3066\u306f\u3001<\/span><span>\u52df\u96c6\u306e\u6642\u671f\u3054\u3068\u306b\u300c\u76ee\u8ad6\u898b\u66f8\uff08\u30d7\u30ed\u30b9\u30da\u30af\u30bf\u30b9\uff09\u300d<\/span><b data-path-to-node=\"110\" data-index-in-node=\"38\">\u3084<\/b><span>\u300c\u682a\u4e3b\u898f\u7d04\u300d\u304c\u4f5c\u6210\u3055\u308c\u307e\u3059\u3002<\/span><\/p>\n<ul data-path-to-node=\"111\">\n<li>\n<p data-path-to-node=\"111,0,0\"><span>\u7b2c1\u671f\u306e\u52df\u96c6\u3068\u7b2c2\u671f\u306e\u52df\u96c6\u3067\u300c\u8cb7\u53d6\u4fdd\u8a3c\u306e\u8a08\u7b97\u5f0f\u300d\u304c\u5909\u66f4\u3055\u308c\u3066\u3044\u306a\u3044\u304b\uff1f<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"111,1,0\"><span>\u8cb7\u53d6\u8acb\u6c42\u304c\u3067\u304d\u308b\u671f\u9593\uff08\u4f8b\uff1a2028\u5e741\u67081\u65e5\u301c1\u670831\u65e5\u307e\u3067\u306e1\u30f6\u6708\u9593\u9650\u5b9a\u306a\u3069\uff09\u306b\u53b3\u683c\u306a\u5236\u7d04\u304c\u306a\u3044\u304b\uff1f<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"111,2,0\"><span>\u624b\u7d9a\u304d\u3092\u3057\u306a\u304b\u3063\u305f\u5834\u5408\u3001<\/span><span>\u6a29\u5229\u304c\u81ea\u52d5\u6d88\u6ec5\uff08\u5931\u52b9\uff09\u3059\u308b\u6761\u9805\u304c\u306a\u3044\u304b\uff1f<\/span><\/p>\n<\/li>\n<\/ul>\n<p data-path-to-node=\"112\"><span>\u300c\u30cb\u30e5\u30fc\u30b9\u8a18\u4e8b\u3067\u898b\u305f\u304b\u3089\u300d\u300c\u8ab0\u304b\u304cSNS\u3067\u8a00\u3063\u3066\u3044\u305f\u304b\u3089\u300d\u3068\u3044\u3046\u5642\u3067\u5224\u65ad\u305b\u305a\u3001<\/span><span>\u3054\u81ea\u8eab\u304c\u540c\u610f\u3057\u305f\u7d04\u6b3e\u30fb\u76ee\u8ad6\u898b\u66f8\u306ePDF\u30c6\u30ad\u30b9\u30c8\u3092\u5fc5\u305a\u30c0\u30a6\u30f3\u30ed\u30fc\u30c9\u3057\u3001<\/span><span>\u4fdd\u7ba1\u3057\u3066\u304a\u304d\u307e\u3057\u3087\u3046\u3002<\/span><\/p>\n<h3 data-path-to-node=\"114\">\u30dd\u30a4\u30f3\u30c8\u2462\uff1a\u682a\u5f0f\u4f1a\u793e\u30ab\u30d6\uff06\u30d4\u30fc\u30b9\u306e\u8ca1\u52d9\u8af8\u8868\u30fb\u4f1a\u54e1\u6570\u30c7\u30fc\u30bf\u306e\u5b9a\u671f\u8ffd\u8de1<\/h3>\n<p data-path-to-node=\"115\"><span>\u672a\u516c\u958b\u4f01\u696d\u3067\u3042\u3063\u3066\u3082\u3001<\/span><span>\u4f1a\u793e\u6cd5\u306b\u57fa\u3065\u304d\u6c7a\u7b97\u516c\u544a\uff08\u5b98\u5831\u3084\u30a6\u30a7\u30d6\u30b5\u30a4\u30c8\u3067\u306e\u8cb8\u501f\u5bfe\u7167\u8868\u306e\u958b\u793a\uff09\u3092\u884c\u3046\u7fa9\u52d9\u304c\u3042\u308a\u307e\u3059\u3002<\/span><span>\u307e\u305f\u3001<\/span><span>\u4e0a\u5834\u3092\u76ee\u6307\u3059\u4f01\u696d\u3068\u3057\u3066\u5b9a\u671f\u7684\u306aIR\u60c5\u5831\uff08\u4f1a\u54e1\u6570\u3084\u58f2\u4e0a\u9ad8\u306e\u63a8\u79fb\uff09\u304c\u958b\u793a\u3055\u308c\u308b\u306f\u305a\u3067\u3059\u3002<\/span><\/p>\n<ul data-path-to-node=\"116\">\n<li>\n<p data-path-to-node=\"116,0,0\"><b data-path-to-node=\"116,0,0\" data-index-in-node=\"0\">\u4f1a\u54e1\u6570\uff08ID\u6570\uff09\uff1a<\/b><span> \u9806\u8abf\u306b\u53f3\u80a9\u4e0a\u304c\u308a\u3067\u4f38\u3073\u3066\u3044\u308b\u304b\uff1f<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"116,1,0\"><b data-path-to-node=\"116,1,0\" data-index-in-node=\"0\">\u7d14\u5229\u76ca\u30fb\u7d14\u8cc7\u7523\uff1a<\/b><span> \u8d64\u5b57\u304c\u6975\u7aef\u306b\u81a8\u3089\u307f\u3001<\/span><span>\u81ea\u5df1\u8cc7\u672c\u304c\u6bc0\u640d\uff08\u50b5\u52d9\u8d85\u904e\uff09\u3057\u3066\u3044\u306a\u3044\u304b\uff1f<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"116,2,0\"><b data-path-to-node=\"116,2,0\" data-index-in-node=\"0\">\u73fe\u9810\u91d1\u6b8b\u9ad8\uff1a<\/b><span> \u5c06\u6765\u306e\u8cb7\u53d6\u8acb\u6c42\u306b\u8010\u3048\u3089\u308c\u308b\u30ad\u30e3\u30c3\u30b7\u30e5\u304c\u3042\u308b\u304b\uff1f<\/span><\/p>\n<\/li>\n<\/ul>\n<p data-path-to-node=\"117\"><span>\u3053\u308c\u3089\u306e\u6307\u6a19\u3092\u5e741\u301c2\u56de\u78ba\u8a8d\u3059\u308b\u3060\u3051\u3067\u3082\u3001<\/span><span>\u300c\u3053\u306e\u307e\u307e\u6301\u3061\u7d9a\u3051\u3066\u5927\u4e08\u592b\u304b\u3001<\/span><span>\u65e9\u3081\u306b\u4ed6\u306e\u30b5\u30fc\u30d3\u30b9\u3078\u4e57\u308a\u63db\u3048\u308b\u3079\u304d\u304b\u300d\u306e\u51b7\u5fb9\u306a\u5224\u65ad\u304c\u53ef\u80fd\u306b\u306a\u308a\u307e\u3059\u3002<\/span><\/p>\n<h3 data-path-to-node=\"119\">\u30dd\u30a4\u30f3\u30c8\u2463\uff1a\u8a3c\u5238\u53e3\u5ea7\u958b\u8a2d\u30fbID\u9023\u643a\u30fb\u672c\u4eba\u78ba\u8a8d\u306e\u624b\u7d9a\u304d\u6f0f\u308c\u30ea\u30b9\u30af<\/h3>\n<p data-path-to-node=\"120\"><span>\u682a\u5f0f\u3068\u3044\u3046\u8cc7\u7523\u3092\u53d7\u3051\u53d6\u308a\u3001<\/span><span>\u5c06\u6765\u58f2\u5374\u3057\u305f\u308a\u8cb7\u3044\u53d6\u3063\u3066\u3082\u3089\u3046\u305f\u3081\u306b\u306f\u3001<\/span><span>\u6cd5\u7684\u30fb\u7a0e\u52d9\u7684\u306a\u672c\u4eba\u78ba\u8a8d\uff08\u30de\u30a4\u30ca\u30f3\u30d0\u30fc\u30ab\u30fc\u30c9\u306e\u63d0\u51fa\u7b49\uff09\u304a\u3088\u3073\u6307\u5b9a\u8a3c\u5238\u4f1a\u793e\u3068\u306eID\u9023\u643a\u304c\u5fc5\u9808\u3068\u306a\u308a\u307e\u3059\u3002<\/span><\/p>\n<ul data-path-to-node=\"121\">\n<li>\n<p data-path-to-node=\"121,0,0\"><span>\u767b\u9332\u4f4f\u6240\u3084\u30e1\u30fc\u30eb\u30a2\u30c9\u30ec\u30b9\u304c\u53e4\u3044\u307e\u307e\u3067\u901a\u77e5\u304c\u5c4a\u304b\u306a\u3044<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"121,1,0\"><span>\u672c\u4eba\u78ba\u8a8d\u624b\u7d9a\u304d\uff08KYC\uff09\u3092\u671f\u9650\u5185\u306b\u5b8c\u4e86\u3057\u306a\u304b\u3063\u305f\u305f\u3081\u3001<\/span><span>\u6a29\u5229\u304c\u5931\u52b9\u3057\u305f<\/span><\/p>\n<\/li>\n<\/ul>\n<p data-path-to-node=\"122\"><span>\u3068\u3044\u3063\u305f\u521d\u6b69\u7684\u306a\u30df\u30b9\u3067\u6a29\u5229\u3092\u5931\u3046\u30e6\u30fc\u30b6\u30fc\u304c\u4e00\u5b9a\u6570\u51fa\u308b\u3053\u3068\u304c\u4e88\u60f3\u3055\u308c\u307e\u3059\u3002<\/span><span>\u6848\u5185\u304c\u5c4a\u3044\u305f\u3089\u653e\u7f6e\u305b\u305a\u3001<\/span><span>\u901f\u3084\u304b\u306b\u624b\u7d9a\u304d\u3092\u5b8c\u4e86\u3055\u305b\u308b\u4f53\u5236\u3092\u6574\u3048\u3066\u304a\u304d\u307e\u3057\u3087\u3046\u3002<\/span><\/p>\n<h2 data-path-to-node=\"124\">\u3010\u7b2c5\u7ae0\u3011\u521d\u5fc3\u8005\u304c\u77e5\u3063\u3066\u304a\u304f\u3079\u304d\u91d1\u878d\u30fb\u6295\u8cc7\u77e5\u8b58\u306e\u91cd\u8981\u6027<\/h2>\n<p data-path-to-node=\"125\"><span>\u30ab\u30d6\u30a2\u30f3\u30c9\u306e\u3088\u3046\u306a\u753b\u671f\u7684\u306a\u30b5\u30fc\u30d3\u30b9\u304c\u767b\u5834\u3057\u305f\u969b\u3001<\/span><span>\u305d\u308c\u306b\u632f\u308a\u56de\u3055\u308c\u305a\u300c\u6b66\u5668\u300d\u3068\u3057\u3066\u4f7f\u3044\u3053\u306a\u305b\u308b\u304b\u3069\u3046\u304b\u306f\u3001<\/span><span>\u500b\u4eba\u306e\u30de\u30cd\u30fc\u30ea\u30c6\u30e9\u30b7\u30fc\uff08\u91d1\u878d\u77e5\u8b58\uff09\u306b\u304b\u304b\u3063\u3066\u3044\u307e\u3059\u3002<\/span><\/p>\n<p data-path-to-node=\"126\"><span>\u3053\u3053\u3067\u306f\u3001<\/span><span>\u91d1\u878d\u306e\u57fa\u790e\u77e5\u8b58\u3092\u4f53\u7cfb\u7684\u306b\u89e3\u8aac\u3057\u307e\u3059\u3002<\/span><\/p>\n<h3 data-path-to-node=\"127\">5-1. \u300c\u672a\u516c\u958b\u682a\u300d\u3068\u306f\u4f55\u304b\uff1f\u4e0a\u5834\u682a\u3068\u306e\u9055\u3044\u3068\u30ea\u30b9\u30af\u306e\u672c\u8cea<\/h3>\n<p data-path-to-node=\"128\"><span>\u666e\u6bb5\u3001<\/span><span>\u79c1\u305f\u3061\u304c\u30cb\u30e5\u30fc\u30b9\u3067\u76ee\u306b\u3059\u308b\u300c\u30c8\u30e8\u30bf\u81ea\u52d5\u8eca\u300d\u3084\u300cApple\u300d\u306e\u682a\u306f\u3001<\/span><span>\u8a3c\u5238\u53d6\u5f15\u6240\u306b\u4e0a\u5834\u3057\u3066\u3044\u308b\u300c\u4e0a\u5834\u682a\u5f0f\u300d\u3067\u3059\u3002<\/span><\/p>\n<p data-path-to-node=\"129\"><span>\u4e00\u65b9\u3001<\/span><span>\u30ab\u30d6\u30a2\u30f3\u30c9\u304c\u767a\u884c\u3059\u308b\u3088\u3046\u306a\u300c\u672a\u516c\u958b\u682a\u5f0f\uff08\u672a\u4e0a\u5834\u682a\u5f0f\uff09\u300d\u306b\u306f\u3001<\/span><span>\u5168\u304f\u7570\u306a\u308b\u6027\u8cea\u304c\u3042\u308a\u307e\u3059\u3002<\/span><\/p>\n<p data-path-to-node=\"0\"><response-element class=\"no-md\" ng-version=\"0.0.0-PLACEHOLDER\"><code-block _nghost-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-471 enable-luminous-code-block ng-star-inserted\"><\/code-block><\/response-element><\/p>\n<div _ngcontent-ng-c3974374368=\"\" class=\"code-block ng-tns-c3974374368-471 ng-animate-disabled ng-trigger ng-trigger-codeBlockRevealAnimation\" jslog=\"223238;track:impression,attention;BardVeMetadataKey:W1sicl82YmQ5MzRmZGY3N2YwMjQyIiwiY183OWY4YmVhNGYxYjJmYzM5IixudWxsLCJyY19kMjhhMGQ1Y2Y3YWM2YmNiIixudWxsLG51bGwsImphIixudWxsLDEsbnVsbCxudWxsLDAsMF1d\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"formatted-code-block-internal-container ng-tns-c3974374368-471\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"animated-opacity ng-tns-c3974374368-471\">\n<pre _ngcontent-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-471\"><code _ngcontent-ng-c3974374368=\"\" role=\"text\" data-test-id=\"code-content\" class=\"code-container formatted ng-tns-c3974374368-471 no-decoration-radius\">\u250c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u252c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u252c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2510\r\n\u2502 \u6bd4\u8f03\u9805\u76ee         \u2502 \u4e0a\u5834\u682a\u5f0f\uff08\u6771\u8a3c\u30d7\u30e9\u30a4\u30e0\u7b49\uff09 \u2502 \u672a\u516c\u958b\u682a\u5f0f\uff08\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\uff09\u2502\r\n\u251c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u253c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u253c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2524\r\n\u2502 1. \u58f2\u8cb7\u306e\u81ea\u7531\u5ea6  \u2502 \u3044\u3064\u3067\u3082\u5e02\u5834\u3067\u58f2\u8cb7\u53ef\u80fd   \u2502 \u81ea\u7531\u306a\u58f2\u8cb7\u306f\u4e0d\u53ef\u80fd        \u2502\r\n\u2502    \uff08\u6d41\u52d5\u6027\uff09    \u2502 \uff08\u5373\u6642\u73fe\u91d1\u5316\uff09           \u2502 \uff08\u4e0a\u5834\u3084M&amp;A\u307e\u3067\u58f2\u308c\u306a\u3044\uff09 \u2502\r\n\u251c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u253c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u253c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2524\r\n\u2502 2. \u682a\u4fa1\u306e\u900f\u660e\u6027  \u2502 1\u79d2\u3054\u3068\u306b\u5e02\u5834\u3067\u6c7a\u307e\u308b    \u2502 \u5ba2\u89b3\u7684\u306a\u4fa1\u683c\u304c\u5b58\u5728\u3057\u306a\u3044  \u2502\r\n\u2502                  \u2502 \uff08\u5e02\u5834\u4fa1\u683c\uff09             \u2502 \uff08\u7b2c\u4e09\u8005\u7b97\u5b9a\u304c\u5fc5\u8981\uff09     \u2502\r\n\u251c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u253c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u253c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2524\r\n\u2502 3. \u60c5\u5831\u958b\u793a      \u2502 \u56db\u534a\u671f\u3054\u3068\u306b\u8ca1\u52d9\u958b\u793a\u7fa9\u52d9 \u2502 \u958b\u793a\u7fa9\u52d9\u304c\u9650\u5b9a\u7684          \u2502\r\n\u2502    \uff08\u30c7\u30a3\u30b9\u30af\u30ed\u30fc\u30b8\u30e3\u30fc\uff09\u2502 (\u53b3\u683c\u306aIR)           \u2502 (\u4e0d\u900f\u660e\u306b\u306a\u308a\u3084\u3059\u3044)      \u2502\r\n\u251c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u253c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u253c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2524\r\n\u2502 4. \u30ea\u30b9\u30af\u30fb\u30ea\u30bf\u30fc\u30f3\u2502 \u4e2d\u30ea\u30b9\u30af\u30fb\u4e2d\u30ea\u30bf\u30fc\u30f3     \u2502 \u8d85\u30cf\u30a4\u30ea\u30b9\u30af\u30fb\u8d85\u30cf\u30a4\u30ea\u30bf\u30fc\u30f3\u2502\r\n\u2514\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2534\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2534\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2518\r\n<\/code><\/pre>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p data-path-to-node=\"131\"><span>\u672a\u516c\u958b\u682a\u306e\u6700\u5927\u306e\u30ea\u30b9\u30af\u306f\u300c\u6d41\u52d5\u6027\u30ea\u30b9\u30af\uff08\u58f2\u308a\u305f\u304f\u3066\u3082\u58f2\u308c\u306a\u3044\u30ea\u30b9\u30af\uff09\u300d\u3067\u3059\u3002<\/span><span>\u30ab\u30d6\u30a2\u30f3\u30c9\u306f\u3053\u306e\u6d41\u52d5\u6027\u30ea\u30b9\u30af\u3092\u300c3\u5e74\u8cb7\u53d6\u4fdd\u8a3c\u300d\u3067\u57cb\u3081\u3088\u3046\u3068\u3057\u3066\u3044\u307e\u3059\u304c\u3001<\/span><span>\u7b2c1\u7ae0\u3067\u89e3\u8aac\u3057\u305f\u901a\u308a\u3001<\/span><span>\u305d\u306e\u4fdd\u8a3c\u81ea\u4f53\u306b\u3082\u4f01\u696d\u306e\u4fe1\u7528\u30ea\u30b9\u30af\u304c\u3064\u3044\u3066\u56de\u308b\u3053\u3068\u3092\u5fd8\u308c\u3066\u306f\u306a\u308a\u307e\u305b\u3093\u3002<\/span><\/p>\n<h3 data-path-to-node=\"133\">5-2. \u6295\u8cc7\u306e\u57fa\u672c\u539f\u5247\u300c\u30ea\u30b9\u30af\u3068\u30ea\u30bf\u30fc\u30f3\u306e\u30c8\u30ec\u30fc\u30c9\u30aa\u30d5\u300d\u3092\u30ab\u30d6\u30a2\u30f3\u30c9\u306b\u5f53\u3066\u306f\u3081\u308b<\/h3>\n<p data-path-to-node=\"134\"><span>\u91d1\u878d\u306e\u4e16\u754c\u306b\u304a\u3051\u308b\u7d76\u5bfe\u306e\u6cd5\u5247\u3001<\/span><span>\u305d\u308c\u304c\u300c\u30ea\u30b9\u30af\u3068\u30ea\u30bf\u30fc\u30f3\u306e\u30c8\u30ec\u30fc\u30c9\u30aa\u30d5\uff08\u76f8\u95a2\u6027\uff09\u300d\u3067\u3059\u3002<\/span><\/p>\n<ul data-path-to-node=\"135\">\n<li>\n<p data-path-to-node=\"135,0,0\"><b data-path-to-node=\"135,0,0\" data-index-in-node=\"0\">\u300c\u30ce\u30fc\u30ea\u30b9\u30af\u3067\u9ad8\u30ea\u30bf\u30fc\u30f3\u300d\u306e\u91d1\u878d\u5546\u54c1\u306f\u4e16\u754c\u306b\u5b58\u5728\u3057\u306a\u3044\u3002<\/b><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"135,1,0\"><b data-path-to-node=\"135,1,0\" data-index-in-node=\"0\">\u9ad8\u3044\u30ea\u30bf\u30fc\u30f3\u304c\u5f97\u3089\u308c\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u5834\u6240\u306b\u306f\u3001\u5fc5\u305a\u76f8\u5fdc\u306e\u640d\u5931\u30ea\u30b9\u30af\u304c\u5b58\u5728\u3059\u308b\u3002<\/b><\/p>\n<\/li>\n<\/ul>\n<p data-path-to-node=\"136\"><span>\u30ab\u30d6\u30a2\u30f3\u30c9\u306e\u4ed5\u7d44\u307f\u3092\u3053\u306e\u6cd5\u5247\u306b\u5f53\u3066\u306f\u3081\u3066\u307f\u307e\u3057\u3087\u3046\u3002<\/span><\/p>\n<ul data-path-to-node=\"137\">\n<li>\n<p data-path-to-node=\"137,0,0\"><b data-path-to-node=\"137,0,0\" data-index-in-node=\"0\">\u5f97\u3089\u308c\u308b\u30ea\u30bf\u30fc\u30f3\u306e\u53ef\u80fd\u6027\uff1a<\/b><span> IPO\u6210\u529f\u306b\u3088\u308b\u682a\u5f0f\u4fa1\u5024\u306e\u8df3\u306d\u4e0a\u304c\u308a\uff08\u6570\u767e%\u301c\u6570\u5343%\u306e\u30ad\u30e3\u30d4\u30bf\u30eb\u30b2\u30a4\u30f3\uff09\u3001<\/span><span>\u3042\u308b\u3044\u306f1.<\/span><span>2\u500d\u306e\u8cb7\u53d6\u3002<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"137,1,0\"><b data-path-to-node=\"137,1,0\" data-index-in-node=\"0\">\u5bfe\u4fa1\u3068\u3057\u3066\u652f\u6255\u3063\u3066\u3044\u308b\u30ea\u30b9\u30af\uff1a<\/b><\/p>\n<ul data-path-to-node=\"137,1,1\">\n<li>\n<p data-path-to-node=\"137,1,1,0,0\"><span>\u4e0a\u5834\u5ef6\u671f\u30fb\u65ad\u5ff5\u30ea\u30b9\u30af<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"137,1,1,1,0\"><span>\u7b2c\u4e09\u8005\u8a55\u4fa1\u984d\u4e0b\u843d\u306b\u3088\u308b\u5143\u672c\u5272\u308c\u30ea\u30b9\u30af<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"137,1,1,2,0\"><span>\u4f1a\u793e\u306e\u5012\u7523\u30fb\u8cb7\u53d6\u308a\u4e0d\u5c65\u884c\u30ea\u30b9\u30af<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"137,1,1,3,0\"><span>\u4ed6\u793e\u3088\u308a\u9ad8\u3044\u30b5\u30fc\u30d3\u30b9\u6599\u91d1\u3092\u6255\u3044\u7d9a\u3051\u308b\u30b3\u30b9\u30c8\u30ea\u30b9\u30af<\/span><\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p data-path-to-node=\"138\"><span>\u3053\u306e\u30ea\u30b9\u30af\u3068\u30ea\u30bf\u30fc\u30f3\u306e\u95a2\u4fc2\u3092\u6b63\u3057\u304f\u8a8d\u8b58\u3057\u3001<\/span><span>\u300c\u30ea\u30b9\u30af\u306b\u898b\u5408\u3046\u30ea\u30bf\u30fc\u30f3\u304c\u898b\u8fbc\u3081\u308b\u304b\u300d\u3092\u5224\u65ad\u3059\u308b\u3053\u3068\u3053\u305d\u304c\u3001<\/span><span>\u6295\u8cc7\u7684\u601d\u8003\u306e\u7b2c\u4e00\u6b69\u3067\u3059\u3002<\/span><\/p>\n<h3 data-path-to-node=\"140\">5-3. \u8cc7\u7523\u5f62\u6210\u306e\u5168\u4f53\u50cf\uff1a\u30e1\u30a4\u30f3\uff08\u4f1d\u7d71\u7684\u8cc7\u7523\uff0bNISA\uff09\u3068\u30b5\u30d6\uff08\u30ab\u30d6\u30a2\u30f3\u30c9\u7b49\u306e\u30b5\u30c6\u30e9\u30a4\u30c8\uff09\u306e\u9069\u5207\u306a\u6bd4\u7387<\/h3>\n<p data-path-to-node=\"141\"><span>\u8cc7\u7523\u5f62\u6210\u3092\u6210\u529f\u3055\u305b\u308b\u305f\u3081\u306e\u738b\u9053\u306f\u3001<\/span><span>\u6295\u8cc7\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3092\u300c\u30b3\u30a2\uff08\u4e2d\u6838\uff09\u300d<\/span><b data-path-to-node=\"141\" data-index-in-node=\"35\">\u3068<\/b><span>\u300c\u30b5\u30c6\u30e9\u30a4\u30c8\uff08\u885b\u661f\u30fb\u4f59\u5270\uff09\u300d<\/span><b data-path-to-node=\"141\" data-index-in-node=\"50\">\u306b\u660e\u78ba\u306b\u5206\u3051\u308b<\/b><span>\u300c\u30b3\u30a2\u30fb\u30b5\u30c6\u30e9\u30a4\u30c8\u6226\u7565\u300d\u3067\u3059\u3002<\/span><\/p>\n<p data-path-to-node=\"0\"><response-element class=\"no-md\" ng-version=\"0.0.0-PLACEHOLDER\"><code-block _nghost-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-472 enable-luminous-code-block ng-star-inserted\"><\/code-block><\/response-element><\/p>\n<div _ngcontent-ng-c3974374368=\"\" class=\"code-block ng-tns-c3974374368-472 ng-animate-disabled ng-trigger ng-trigger-codeBlockRevealAnimation\" jslog=\"223238;track:impression,attention;BardVeMetadataKey:W1sicl82YmQ5MzRmZGY3N2YwMjQyIiwiY183OWY4YmVhNGYxYjJmYzM5IixudWxsLCJyY19kMjhhMGQ1Y2Y3YWM2YmNiIixudWxsLG51bGwsImphIixudWxsLDEsbnVsbCxudWxsLDAsMF1d\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"formatted-code-block-internal-container ng-tns-c3974374368-472\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"animated-opacity ng-tns-c3974374368-472\">\n<pre _ngcontent-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-472\"><code _ngcontent-ng-c3974374368=\"\" role=\"text\" data-test-id=\"code-content\" class=\"code-container formatted ng-tns-c3974374368-472 no-decoration-radius\">\u250c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2510\r\n\u2502               \u5805\u5b9f\u306a\u8cc7\u7523\u5f62\u6210\u306e\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u69cb\u9020       \u2502\r\n\u251c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2524\r\n\u2502                                                        \u2502\r\n\u2502  \u3010\u30b5\u30c6\u30e9\u30a4\u30c8\u90e8\u5206\uff085\u301c10%\u7a0b\u5ea6\uff09\u3011                      \u2502\r\n\u2502   \u30fb\u30ab\u30d6\u30a2\u30f3\u30c9\u7b49\u306e\u672a\u516c\u958b\u682a\u30fb\u30dd\u30a4\u6d3b                    \u2502\r\n\u2502   \u30fb\u6697\u53f7\u8cc7\u7523\u3001\u500b\u5225\u306e\u6210\u9577\u682a\u6295\u8cc7                         \u2502\r\n\u2502   \u25b2\uff08\u30cf\u30a4\u30ea\u30b9\u30af\u30fb\u697d\u3057\u307f\u30fb\u5922\u3092\u8ffd\u3046\u9818\u57df\uff09                \u2502\r\n\u2502 \u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500 \u2502\r\n\u2502  \u3010\u30b3\u30a2\uff08\u4e2d\u6838\uff09\u90e8\u5206\uff0890\u301c95%\u7a0b\u5ea6\uff09\u3011                   \u2502\r\n\u2502   \u30fbNISA \/ iDeCo\u3092\u6d3b\u7528\u3057\u305f\u4e16\u754c\u682a\u30a4\u30f3\u30c7\u30c3\u30af\u30b9\u30d5\u30a1\u30f3\u30c9    \u2502\r\n\u2502   \u30fb\u73fe\u91d1\u9810\u91d1\uff08\u751f\u6d3b\u9632\u885b\u8cc7\u91d1\uff1a3\u301c6\u30f6\u6708\u5206\u306e\u751f\u6d3b\u8cbb\uff09       \u2502\r\n\u2502   \u25b2\uff08\u30ed\u30fc\u301c\u4e2d\u30ea\u30b9\u30af\u30fb\u518d\u73fe\u6027\u306e\u9ad8\u3044\u9577\u671f\u8cc7\u7523\u5f62\u6210\uff09        \u2502\r\n\u2502                                                        \u2502\r\n\u2514\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2518\r\n<\/code><\/pre>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<ol start=\"1\" data-path-to-node=\"143\">\n<li>\n<p data-path-to-node=\"143,0,0\"><b data-path-to-node=\"143,0,0\" data-index-in-node=\"0\">\u30b3\u30a2\u8cc7\u7523\uff08\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e80\u301c90%\u4ee5\u4e0a\uff09\uff1a<\/b><\/p>\n<ul data-path-to-node=\"143,0,1\">\n<li>\n<p data-path-to-node=\"143,0,1,0,0\"><span>\u65b0NISA\u5236\u5ea6\u306a\u3069\u3092\u6d3b\u7528\u3057\u305f\u300c\u30aa\u30eb\u30ab\u30f3\uff08\u5168\u8eab\u4e16\u754c\u682a\u5f0f\uff09\u300d\u3084\u300cS&amp;P500\u300d\u306a\u3069\u306e\u4f4e\u30b3\u30b9\u30c8\u306a\u5168\u4e16\u754c\u30a4\u30f3\u30c7\u30c3\u30af\u30b9\u30d5\u30a1\u30f3\u30c9\u3002<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"143,0,1,1,0\"><span>\u78ba\u5b9f\u306a\u73fe\u91d1\u9810\u91d1\uff08\u751f\u6d3b\u9632\u885b\u8cc7\u91d1\uff09\u3002<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"143,0,1,2,0\"><span>\u3053\u3053\u3067\u7740\u5b9f\u306b\u8001\u5f8c\u8cc7\u91d1\u3084\u5c06\u6765\u306e\u6559\u80b2\u8cc7\u91d1\u3092\u7a4d\u7acb\u904b\u7528\u3057\u307e\u3059\u3002<\/span><\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>\n<p data-path-to-node=\"143,1,0\"><b data-path-to-node=\"143,1,0\" data-index-in-node=\"0\">\u30b5\u30c6\u30e9\u30a4\u30c8\u8cc7\u7523\uff08\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e5\u301c10%\u4ee5\u4e0b\uff09\uff1a<\/b><\/p>\n<ul data-path-to-node=\"143,1,1\">\n<li>\n<p data-path-to-node=\"143,1,1,0,0\"><span>\u30ab\u30d6\u30a2\u30f3\u30c9\u306e\u3088\u3046\u306a\u672a\u516c\u958b\u682a\u9084\u5143\u30b5\u30fc\u30d3\u30b9\u3002<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"143,1,1,1,0\"><span>\u6697\u53f7\u8cc7\u7523\uff08\u4eee\u60f3\u901a\u8ca8\uff09\u3084\u500b\u5225\u682a\u6295\u8cc7\u3002<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"143,1,1,2,0\"><span>\u4eee\u306b\u4fa1\u5024\u304c\u30bc\u30ed\u306b\u306a\u3063\u3066\u3082\u751f\u6d3b\u304c\u7834\u7dbb\u3057\u306a\u3044\u300c\u4f59\u5270\uff08\u304a\u697d\u3057\u307f\uff09\u300d\u306e\u7bc4\u56f2\u3067\u904b\u7528\u3057\u307e\u3059\u3002<\/span><\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<p data-path-to-node=\"144\"><span>\u30ab\u30d6\u30a2\u30f3\u30c9\u3092\u300c\u8cc7\u7523\u5f62\u6210\u306e\u4e3b\u8ef8\u300d\u306b\u3059\u308b\u306e\u3067\u306f\u306a\u304f\u3001<\/span><span>\u300c\u30dd\u30a4\u6d3b\u306e\u5ef6\u9577\u3068\u3057\u3066\u3001<\/span><span>\u5f53\u305f\u3063\u305f\u3089\u30e9\u30c3\u30ad\u30fc\u7a0b\u5ea6\u306e\u30b5\u30c6\u30e9\u30a4\u30c8\u8cc7\u7523\u300d\u3068\u5272\u308a\u5207\u3063\u3066\u4ed8\u304d\u5408\u3046\u3053\u3068\u304c\u3001<\/span><span>\u7cbe\u795e\u7684\u306b\u3082\u8ca1\u52d9\u7684\u306b\u3082\u6700\u3082\u5065\u5eb7\u7684\u306a\u30a2\u30d7\u30ed\u30fc\u30c1\u3067\u3059\u3002<\/span><\/p>\n<h3 data-path-to-node=\"146\">5-4. \u30ab\u30d6\u30a2\u30f3\u30c9\u30b7\u30df\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\uff1a\u4e0a\u5834\u6642\u3068\u975e\u4e0a\u5834\u6642\u306e\u8cc7\u7523\u63a8\u79fb\u6bd4\u8f03<\/h3>\n<p data-path-to-node=\"147\"><span>\u4ee5\u4e0b\u306f\u3001<\/span><span>\u30ab\u30d6\u30a2\u30f3\u30c9\u5229\u7528\u306b\u3088\u3063\u3066\u5f97\u3089\u308c\u308b\u8a55\u4fa1\u984d\u306e\u63a8\u79fb\u3068\u3001<\/span><span class=\"\">\u4f1d\u7d71\u7684\u306a\u30a4\u30f3\u30c7\u30c3\u30af\u30b9\u6295\u8cc7\u306e\u6bd4\u8f03\u3092\u884c\u3048\u308b\u30a4\u30f3\u30bf\u30e9\u30af\u30c6\u30a3\u30d6\u30b7\u30df\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u3067\u3059\u3002<\/span><span class=\"\">\u30b9\u30e9\u30a4\u30c0\u30fc\u3092\u64cd\u4f5c\u3057\u3066\u3001<\/span><span class=\"\">\u4e0a\u5834\u6642\u306e\u6210\u9577\u7387\u3084\u975e\u4e0a\u5834\u6642\u306e\u4e0b\u843d\u30ea\u30b9\u30af\u304c\u8cc7\u7523\u306b\u4e0e\u3048\u308b\u5f71\u97ff\u3092\u691c\u8a3c\u3057\u3066\u307f\u307e\u3057\u3087\u3046\u3002<\/span><\/p>\n<div class=\"attachment-container unknown\"><response-element class=\"no-md\" ng-version=\"0.0.0-PLACEHOLDER\"><\/response-element><\/div>\n<div class=\"attachment-container unknown\"><response-element class=\"no-md\" ng-version=\"0.0.0-PLACEHOLDER\"><\/response-element><\/div>\n<h2 data-path-to-node=\"151\">7. \u304a\u308f\u308a\u306b\uff1a\u65b0\u6642\u4ee3\u306e\u91d1\u878d\u4f53\u9a13\u3068\u3069\u3046\u4ed8\u304d\u5408\u3063\u3066\u3044\u304f\u3079\u304d\u304b<\/h2>\n<p data-path-to-node=\"152\"><span>\u300c\u30ab\u30d6\u30a2\u30f3\u30c9 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data-index-in-node=\"47\">\u4f4e\u3044\u65b9<\/b><span>\u304c\u9069\u7528\u3055\u308c\u308b\u305f\u3081\u3001<\/span><span>\u696d\u7e3e\u4f4e\u8ff7\u6642\u306b\u306f\u5143\u672c\u5272\u308c\u3067\u8cb7\u3044\u53d6\u3089\u308c\u308b\u30ea\u30b9\u30af\u304c\u3042\u308b\u3002<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"153,1,0\"><b data-path-to-node=\"153,1,0\" data-index-in-node=\"0\">2027\u5e74IPO\u306e\u30cf\u30fc\u30c9\u30eb\u306f\u6975\u3081\u3066\u9ad8\u3044\uff1a<\/b><span> \u53ce\u76ca\u6027\u306e\u8a3c\u660e\u3001<\/span><span>\u524d\u4f8b\u306e\u306a\u3044\u5927\u91cf\u306e\u500b\u4eba\u682a\u4e3b\u7ba1\u7406\u30b3\u30b9\u30c8\u3001<\/span><span>\u76e3\u67fb\u6cd5\u4eba\u306b\u3088\u308b\u4f1a\u8a08\u76e3\u67fb\u306a\u3069\u3001<\/span><span>\u6771\u8a3c\u5be9\u67fb\u30923\u5e74\u4ee5\u5185\u3067\u7a81\u7834\u3059\u308b\u306e\u306f\u975e\u5e38\u306b\u30bf\u30a4\u30c8\u306a\u30b9\u30b1\u30b8\u30e5\u30fc\u30eb\u3067\u3042\u308b\u3002<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"153,2,0\"><b data-path-to-node=\"153,2,0\" data-index-in-node=\"0\">\u4e3b\u5f93\u3092\u9006\u8ee2\u3055\u305b\u306a\u3044\uff1a<\/b><span> \u30b5\u30fc\u30d3\u30b9\u5358\u4f53\u306e\u6599\u91d1\uff08\u96fb\u6c17\u4ee3\u3084\u901a\u4fe1\u8cbb\uff09\u304c\u4ed6\u793e\u3088\u308a\u9ad8\u3051\u308c\u3070\u3001<\/span><span>\u3044\u304f\u3089\u682a\u3092\u3082\u3089\u3063\u3066\u3082\u30c8\u30fc\u30bf\u30eb\u3067\u640d\u3092\u3059\u308b\u3002<\/span><span>\u300c\u7d14\u7c8b\u306a\u30a4\u30f3\u30d5\u30e9\u6599\u91d1\u306e\u5b89\u3055\u30fb\u5229\u4fbf\u6027\u300d\u3067\u5229\u7528\u3092\u6c7a\u3081\u308b\u306e\u304c\u9244\u5247\u3002<\/span><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"153,3,0\"><b data-path-to-node=\"153,3,0\" data-index-in-node=\"0\">\u91d1\u878d\u30ea\u30c6\u30e9\u30b7\u30fc\u3092\u9ad8\u3081\u308b\u30c1\u30e3\u30f3\u30b9\u306b\u3059\u308b\uff1a<\/b><span> 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data-path-to-node=\"156\"><b data-path-to-node=\"155\" data-index-in-node=\"0\">\u300c\u4ed5\u7d44\u307f\u3068\u30ea\u30b9\u30af\u3092\u6b63\u3057\u304f\u7406\u89e3\u3057\u3001\u81ea\u5206\u306e\u8a31\u5bb9\u3067\u304d\u308b\u7bc4\u56f2\u3067\u8ce2\u304f\u5229\u7528\u3059\u308b\u300d<\/b><span>\u2014\u2014\u3053\u308c\u3053\u305d\u304c\u3001<\/span><span>\u5909\u5316\u306e\u6fc0\u3057\u3044\u73fe\u4ee3\u793e\u4f1a\u3092\u751f\u304d\u629c\u304f\u305f\u3081\u306b\u5fc5\u8981\u306a\u3001<\/span><span>\u771f\u306e\u30de\u30cd\u30fc\u30ea\u30c6\u30e9\u30b7\u30fc\u3067\u3059\u3002<\/span><\/p>\n<div><\/div>\n<div class=\"xcd-attention-8 xcd-col5 xcd-ripple\">\n<div class=\"xcd-title\"><span style=\"font-size: 18pt;\">\u30d7\u30ed\u306e\u77e5\u8b58\u304c\u7121\u6599\u3067\u5b66\u3079\u307e\u3059<\/span><\/div>\n<div class=\"xcd-content\">\n<p><span style=\"font-size: 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href=\"https:\/\/gfs.tokyo\/\">GFS<\/a>\u304c\u63d0\u4f9b\u3059\u308b\u7121\u6599\u30aa\u30f3\u30e9\u30a4\u30f3\u8b1b\u5ea7\u3067\u3059\u3002\u30d7\u30ed\u306e\u6295\u8cc7\u5bb6\u3067\u3042\u308b\u8b1b\u5e2b\u304c\u3001\u672a\u7d4c\u9a13\u8005\u3084\u82e6\u624b\u610f\u8b58\u304c\u3042\u308b\u4eba\u3067\u3082\u5206\u304b\u308b\u3088\u3046\u306b\u3001\u6295\u8cc7\u306e\u4ed5\u7d44\u307f\u3084\u5168\u4f53\u50cf\u3001\u30eb\u30fc\u30eb\u3092\u57fa\u790e\u304b\u3089\u56f3\u89e3\u3092\u4ea4\u3048\u3066\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n<p>\u6295\u8cc7\u306e\u52c9\u5f37\u3092\u306a\u308b\u3079\u304f\u52b9\u7387\u3088\u304f\u59cb\u3081\u305f\u3044\u4eba\u306f\u3001\u305c\u3072\u4e00\u5ea6\u3054\u8996\u8074\u304f\u3060\u3055\u3044\u3002<\/p>\n<div class=\"cv-btn-wrap\">\n<div class=\"cv-copy\" style=\"text-align: center;\"><strong><a href=\"https:\/\/toushi-up.com\/ow\/05.html?utm_source=article&amp;utm_medium=cta&amp;utm_content=ueoka\">\uff3c1\u5206\u3067\u7c21\u5358\u7533\u8fbc\uff0f<\/a><\/strong><\/div>\n<div class=\"cv-btn\" style=\"text-align: center;\"><strong><span class=\"cv-em\">\u7121\u6599<\/span><\/strong><br \/>\n<strong><span class=\"cv-text\"><a href=\"https:\/\/toushi-up.com\/ow\/05.html?utm_source=article&amp;utm_medium=cta&amp;utm_content=ueoka\">\u30aa\u30f3\u30e9\u30a4\u30f3\u8b1b\u5ea7\u306f\u3053\u3061\u3089<\/a><\/span><\/strong><\/div>\n<\/div>\n<\/div>\n<\/div>\n<h3 data-path-to-node=\"4\">\u3010\u91cd\u8981\u3011\u514d\u8cac\u4e8b\u9805<\/h3>\n<ul data-path-to-node=\"5\">\n<li>\n<p data-path-to-node=\"5,0,0\"><b data-path-to-node=\"5,0,0\" data-index-in-node=\"0\">\u6295\u8cc7\u5224\u65ad\u306e\u6700\u7d42\u8cac\u4efb\uff1a<\/b> 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2026\u5e74\u6642\u70b9\u306e\u60c5\u5831\u306b\u57fa\u3065\u304d\u4f5c\u6210\u3055\u308c\u3066\u3044\u307e\u3059\u304c\u3001\u305d\u306e\u6b63\u78ba\u6027\u3084\u5b8c\u5168\u6027\u3092\u4fdd\u8a3c\u3059\u308b\u3082\u306e\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u6700\u65b0\u306e\u696d\u7e3e\u3084\u30cb\u30e5\u30fc\u30b9\u306f\u3001\u5fc5\u305a\u5404\u4f01\u696d\u306eIR\u30b5\u30a4\u30c8\u3084\u4e00\u6b21\u8cc7\u6599\u3067\u3054\u78ba\u8a8d\u304f\u3060\u3055\u3044\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"5,3,0\"><b data-path-to-node=\"5,3,0\" data-index-in-node=\"0\">\u640d\u5931\u306e\u88dc\u511f\uff1a<\/b> 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[&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":32185,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[13,12],"acf":[],"_links":{"self":[{"href":"https:\/\/official.gfs.tokyo\/blog\/wp-json\/wp\/v2\/posts\/32163"}],"collection":[{"href":"https:\/\/official.gfs.tokyo\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/official.gfs.tokyo\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/official.gfs.tokyo\/blog\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/official.gfs.tokyo\/blog\/wp-json\/wp\/v2\/comments?post=32163"}],"version-history":[{"count":8,"href":"https:\/\/official.gfs.tokyo\/blog\/wp-json\/wp\/v2\/posts\/32163\/revisions"}],"predecessor-version":[{"id":32252,"href":"https:\/\/official.gfs.tokyo\/blog\/wp-json\/wp\/v2\/posts\/32163\/revisions\/32252"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/official.gfs.tokyo\/blog\/wp-json\/wp\/v2\/media\/32185"}],"wp:attachment":[{"href":"https:\/\/official.gfs.tokyo\/blog\/wp-json\/wp\/v2\/media?parent=32163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/official.gfs.tokyo\/blog\/wp-json\/wp\/v2\/categories?post=32163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}