{"id":32169,"date":"2026-10-08T11:04:21","date_gmt":"2026-10-08T02:04:21","guid":{"rendered":"https:\/\/official.gfs.tokyo\/blog\/?p=32169"},"modified":"2026-10-08T11:04:21","modified_gmt":"2026-10-08T02:04:21","slug":"ue-from-the-current-ratio-to-the-equity-ratio","status":"publish","type":"post","link":"https:\/\/official.gfs.tokyo\/blog\/ue-from-the-current-ratio-to-the-equity-ratio","title":{"rendered":"\u3010\u5fb9\u5e95\u89e3\u8aac\u3011\u8cb8\u501f\u5bfe\u7167\u8868\uff08B\/S\uff09\u306e\u8aad\u307f\u65b9\u3068\u91cd\u8981\u6307\u6a19\uff5c\u6d41\u52d5\u6bd4\u7387\u304b\u3089\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u307e\u3067"},"content":{"rendered":"<h2 data-path-to-node=\"0\">\u3010\u5fb9\u5e95\u89e3\u8aac\u3011\u8cb8\u501f\u5bfe\u7167\u8868\uff08B\/S\uff09\u306e\u8aad\u307f\u65b9\u3068\u91cd\u8981\u6307\u6a19\uff5c\u6d41\u52d5\u6bd4\u7387\u304b\u3089\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u307e\u3067<\/h2>\n<p data-path-to-node=\"0\">\u8cb8\u501f\u5bfe\u7167\u8868\uff08B\/S\uff09\u306e\u5168\u9818\u57df\u3092\u6839\u5e95\u304b\u3089\u4f53\u7cfb\u5316\u3057\u3001\u5b9f\u52d9\u30fb\u6295\u8cc7\u30fb\u500b\u4eba\u8ca1\u52d9\u3078\u306e\u5fdc\u7528\u307e\u3067\u7db2\u7f85\u3057\u305f\u6c7a\u5b9a\u7248\u30ac\u30a4\u30c9\u3067\u3059\u3002\u57fa\u790e\u6982\u5ff5\u306e\u6574\u7406\u304b\u3089\u3001\u4e3b\u8981\u6307\u6a19\u306e\u6df1\u6398\u308a\u3001B\/S\u7279\u6709\u306e\u898b\u6975\u3081\u30dd\u30a4\u30f3\u30c8\u3001\u305d\u3057\u3066\u91d1\u878d\u30ea\u30c6\u30e9\u30b7\u30fc\u306e\u91cd\u8981\u6027\u307e\u3067\u8a73\u3057\u304f\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\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=\"2\">1. \u8cb8\u501f\u5bfe\u7167\u8868\uff08B\/S\uff09\u306e\u672c\u8cea\u3068\u69cb\u9020\u7684\u7406\u89e3<\/h2>\n<p data-path-to-node=\"3\">\u8cb8\u501f\u5bfe\u7167\u8868\uff08Balance Sheet\uff1aB\/S\uff09\u306f\u3001\u4f01\u696d\u306e<b data-path-to-node=\"3\" data-index-in-node=\"29\">\u7279\u5b9a\u6642\u70b9\u306b\u304a\u3051\u308b\u8ca1\u52d9\u72b6\u614b\uff08\u8cc7\u7523\u30fb\u8ca0\u50b5\u30fb\u7d14\u8cc7\u7523\uff09\u3092\u4e00\u76ee\u3067\u628a\u63e1\u3059\u308b\u305f\u3081\u306e\u300c\u8ca1\u7523\u76ee\u9332\u300d\u3067\u3042\u308a\u3001\u4f01\u696d\u306e\u5065\u5eb7\u8a3a\u65ad\u66f8<\/b>\u3067\u3059\u3002<\/p>\n<p data-path-to-node=\"4\">\u640d\u76ca\u8a08\u7b97\u66f8\uff08P\/L\uff09\u304c\u300c1\u5e74\u9593\u3067\u3044\u304f\u3089\u7a3c\u3044\u3067\u3001\u3044\u304f\u3089\u4f7f\u3063\u305f\u304b\u300d\u3068\u3044\u3046\u30d5\u30ed\u30fc\uff08\u6d41\u308c\uff09<b data-path-to-node=\"4\" data-index-in-node=\"41\">\u3092\u8868\u3059\u306e\u306b\u5bfe\u3057\u3001\u8cb8\u501f\u5bfe\u7167\u8868\uff08B\/S\uff09\u306f\u300c\u4f1a\u793e\u8a2d\u7acb\u304b\u3089\u73fe\u5728\u307e\u3067\u306b\u7a4d\u3082\u308a\u7a4d\u3082\u3063\u305f\u8ca1\u7523\u306e\u6b8b\u9ad8\u300d\u3068\u3044\u3046<\/b>\u30b9\u30c8\u30c3\u30af\uff08\u84c4\u7a4d\uff09\u3092\u8868\u3057\u307e\u3059\u3002<\/p>\n<p data-path-to-node=\"0\" class=\"first-token\"><response-element class=\"no-md\" ng-version=\"0.0.0-PLACEHOLDER\"><code-block _nghost-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-518 enable-luminous-code-block ng-star-inserted\"><\/code-block><\/response-element><\/p>\n<div _ngcontent-ng-c3974374368=\"\" class=\"code-block ng-tns-c3974374368-518 ng-animate-disabled ng-trigger ng-trigger-codeBlockRevealAnimation\" jslog=\"223238;track:impression,attention;BardVeMetadataKey:W1sicl8wMTM4Y2JlOTUxNDMzMDY2IiwiY182NjM3ZTFhMTUxOTE1YTBiIixudWxsLCJyY18zNjJkNDk3ZTMxYjdiMTUyIixudWxsLG51bGwsImphIixudWxsLDEsbnVsbCxudWxsLDEsMF1d\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"formatted-code-block-internal-container ng-tns-c3974374368-518\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"animated-opacity ng-tns-c3974374368-518\">\n<pre _ngcontent-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-518\"><code _ngcontent-ng-c3974374368=\"\" role=\"text\" data-test-id=\"code-content\" class=\"code-container formatted ng-tns-c3974374368-518 no-decoration-radius\">\u3010\u8cb8\u501f\u5bfe\u7167\u8868\uff08B\/S\uff09\u306e\u57fa\u672c\u69cb\u9020\u3011\r\n\r\n\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\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\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2510\r\n\u2502                                       \u2502  \u3010\u6d41\u52d5\u8ca0\u50b5\u3011\uff081\u5e74\u4ee5\u5185\u306b\u8fd4\u6e08\u7fa9\u52d9\u3042\u308a\uff09 \u2502\r\n\u2502                                       \u2502  \u30fb\u77ed\u671f\u501f\u5165\u91d1\u3001\u8cb7\u639b\u91d1\u3001\u672a\u6255\u91d1\u306a\u3069    \u2502\r\n\u2502  \u3010\u6d41\u52d5\u8cc7\u7523\u3011\uff081\u5e74\u4ee5\u5185\u306b\u73fe\u91d1\u5316\u53ef\u80fd\uff09  \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\u2524\r\n\u2502  \u30fb\u73fe\u91d1\u9810\u91d1\u3001\u58f2\u8cb7\u76ee\u7684\u6709\u4fa1\u8a3c\u5238         \u2502  \u3010\u56fa\u5b9a\u8ca0\u50b5\u3011\uff08\u8fd4\u6e08\u671f\u9650\u304c1\u5e74\u8d85\uff09      \u2502\r\n\u2502  \u30fb\u58f2\u639b\u91d1\u3001\u68da\u5378\u8cc7\u7523\uff08\u5728\u5eab\uff09\u306a\u3069       \u2502  \u30fb\u9577\u671f\u501f\u5165\u91d1\u3001\u793e\u50b5\u306a\u3069              \u2502\r\n\u2502                                       \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\u2524\r\n\u2502                                       \u2502                                       \u2502\r\n\u2502                                       \u2502  \u3010\u7d14\u8cc7\u7523\uff08\u81ea\u5df1\u8cc7\u672c\uff09\u3011\uff08\u8fd4\u6e08\u4e0d\u8981\uff09   \u2502\r\n\u2502  \u3010\u56fa\u5b9a\u8cc7\u7523\u3011\uff08\u9577\u671f\u4fdd\u6709\u30fb1\u5e74\u8d85\uff09      \u2502  \u30fb\u682a\u4e3b\u8cc7\u672c\uff08\u8cc7\u672c\u91d1\u3001\u8cc7\u672c\u6e96\u5099\u91d1\uff09    \u2502\r\n\u2502  \u30fb\u6709\u5f62\u56fa\u5b9a\u8cc7\u7523\uff08\u5efa\u7269\u3001\u571f\u5730\u3001\u6a5f\u68b0\uff09   \u2502  \u30fb\u5229\u76ca\u5270\u4f59\u91d1\uff08\u904e\u53bb\u306e\u5229\u76ca\u306e\u84c4\u7a4d\uff09    \u2502\r\n\u2502  \u30fb\u7121\u5f62\u56fa\u5b9a\u8cc7\u7523\uff08\u7279\u8a31\u6a29\u3001\u306e\u308c\u3093\u306a\u3069\uff09 \u2502  \u30fb\u8a55\u4fa1\u30fb\u63db\u7b97\u5dee\u984d\u7b49                  \u2502\r\n\u2502                                       \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\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\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2518\r\n  \u3010\u8cc7\u7523\u306e\u90e8\uff08\u8cc7\u91d1\u306e\u904b\u7528\u5f62\u614b\uff09\u3011            \u3010\u8ca0\u50b5\u30fb\u7d14\u8cc7\u7523\u306e\u90e8\uff08\u8cc7\u91d1\u306e\u8abf\u9054\u6e90\u6cc9\uff09\u3011\r\n<\/code><\/pre>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<h3 data-path-to-node=\"6\">B\/S\u3092\u6210\u7acb\u3055\u305b\u308b\u5de6\u53f3\u306e\u5747\u8861\u65b9\u7a0b\u5f0f<\/h3>\n<p data-path-to-node=\"7\">\u8cb8\u501f\u5bfe\u7167\u8868\u306e\u5de6\u53f3\u306e\u5408\u8a08\u984d\u306f\u5fc5\u305a\u4e00\u81f4\uff08\u30d0\u30e9\u30f3\u30b9\uff09\u3057\u307e\u3059\u3002<\/p>\n<div data-path-to-node=\"8\">\n<div class=\"math-block\" data-math=\"\\text{\u8cc7\u7523\uff08\u5de6\u5074\uff09} = \\text{\u8ca0\u50b5\uff08\u53f3\u5074\uff09} + \\text{\u7d14\u8cc7\u7523\uff08\u53f3\u5074\uff09}\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.14.04.png\" alt=\"\" width=\"596\" height=\"56\" class=\"aligncenter  wp-image-32228\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.14.04.png 894w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.14.04-300x28.png 300w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.14.04-768x72.png 768w\" sizes=\"(max-width: 596px) 100vw, 596px\" \/><\/div>\n<\/div>\n<ul data-path-to-node=\"9\">\n<li>\n<p data-path-to-node=\"9,0,0\"><b data-path-to-node=\"9,0,0\" data-index-in-node=\"0\">\u53f3\u5074\uff08\u8ca0\u50b5\u30fb\u7d14\u8cc7\u7523\u306e\u90e8\uff09\uff1d \u3069\u3053\u304b\u3089\u8cc7\u91d1\u3092\u8abf\u9054\u3057\u3066\u304d\u305f\u304b\uff08\u8abf\u9054\uff09<\/b><\/p>\n<ul data-path-to-node=\"9,0,1\">\n<li>\n<p data-path-to-node=\"9,0,1,0,0\"><b data-path-to-node=\"9,0,1,0,0\" data-index-in-node=\"0\">\u8ca0\u50b5\uff08\u4ed6\u4eba\u8cc7\u672c\uff09<\/b>\uff1a\u9280\u884c\u304b\u3089\u306e\u878d\u8cc7\u3084\u53d6\u5f15\u5148\u304b\u3089\u306e\u4fe1\u7528\u306a\u3069\u3001\u3044\u305a\u308c\u8fd4\u6e08\u3057\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u8cc7\u91d1\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"9,0,1,1,0\"><b data-path-to-node=\"9,0,1,1,0\" data-index-in-node=\"0\">\u7d14\u8cc7\u7523\uff08\u81ea\u5df1\u8cc7\u672c\uff09<\/b>\uff1a\u682a\u4e3b\u304b\u3089\u306e\u51fa\u8cc7\u3084\u3001\u4f1a\u793e\u304c\u5275\u696d\u4ee5\u6765\u7a3c\u304e\u51fa\u3057\u3066\u84c4\u7a4d\u3057\u3066\u304d\u305f\u5229\u76ca\uff08\u5229\u76ca\u5270\u4f59\u91d1\uff09\u3002\u8fd4\u6e08\u7fa9\u52d9\u304c\u306a\u3044\u5b8c\u5168\u306a\u81ea\u524d\u8cc7\u91d1\u3002<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>\n<p data-path-to-node=\"9,1,0\"><b data-path-to-node=\"9,1,0\" data-index-in-node=\"0\">\u5de6\u5074\uff08\u8cc7\u7523\u306e\u90e8\uff09\uff1d \u96c6\u3081\u305f\u8cc7\u91d1\u3092\u4f55\u306b\u59ff\u5909\u3048\u3057\u3066\u904b\u7528\u3057\u3066\u3044\u308b\u304b\uff08\u904b\u7528\uff09<\/b><\/p>\n<ul data-path-to-node=\"9,1,1\">\n<li>\n<p data-path-to-node=\"9,1,1,0,0\">\u8abf\u9054\u3057\u305f\u304a\u91d1\u3092\u300c\u73fe\u91d1\u300d\u306e\u307e\u307e\u6301\u3063\u3066\u3044\u308b\u306e\u304b\u3001\u300c\u5e97\u8217\u3084\u6a5f\u68b0\u300d\u306b\u6295\u8cc7\u3057\u305f\u306e\u304b\u3001\u300c\u5546\u54c1\uff08\u5728\u5eab\uff09\u300d\u306b\u5909\u3048\u305f\u306e\u304b\u3001\u300c\u58f2\u639b\u91d1\u300d\u3068\u3057\u3066\u56de\u53ce\u5f85\u3061\u72b6\u614b\u306a\u306e\u304b\u3092\u793a\u3057\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2 data-path-to-node=\"11\">2. \u77ed\u671f\u7684\u306a\u652f\u6255\u80fd\u529b\u30fb\u8cc7\u91d1\u7e70\u308a\u3092\u6e2c\u308b\u300c\u6d41\u52d5\u6027\u5206\u6790\u300d<\/h2>\n<p data-path-to-node=\"12\">\u4f01\u696d\u306e\u5012\u7523\u539f\u56e0\u306e\u591a\u304f\u306f\u3001\u8d64\u5b57\u3067\u306f\u306a\u304f\u300c\u8cc7\u91d1\u30b7\u30e7\u30fc\u30c8\uff08\u9ed2\u5b57\u5012\u7523\uff09\u300d\u3067\u3059\u3002\u624b\u5143\u306b\u5341\u5206\u306a\u652f\u6255\u80fd\u529b\u304c\u3042\u308b\u304b\u3092\u691c\u8a3c\u3059\u308b\u6307\u6a19\u7fa4\u3092\u6df1\u6398\u308a\u3057\u307e\u3059\u3002<\/p>\n<h3 data-path-to-node=\"13\">2-1. \u6d41\u52d5\u6bd4\u7387\uff08Current Ratio\uff09<\/h3>\n<h4 data-path-to-node=\"14\">\u8a73\u7d30\u306a\u6982\u5ff5\u3068\u8a08\u7b97\u30e1\u30ab\u30cb\u30ba\u30e0<\/h4>\n<p data-path-to-node=\"15\">1\u5e74\u4ee5\u5185\u306b\u8fd4\u6e08\u3059\u3079\u304d\u50b5\u52d9\uff08\u6d41\u52d5\u8ca0\u50b5\uff09\u306b\u5bfe\u3057\u30011\u5e74\u4ee5\u5185\u306b\u73fe\u91d1\u5316\u3067\u304d\u308b\u624b\u5143\u8cc7\u7523\uff08\u6d41\u52d5\u8cc7\u7523\uff09\u304c\u3069\u308c\u3060\u3051\u5b58\u5728\u3059\u308b\u304b\u3092\u793a\u3059\u3001\u6700\u3082\u6a19\u6e96\u7684\u306a\u77ed\u671f\u5b89\u5168\u6027\u6307\u6a19\u3067\u3059\u3002<\/p>\n<div data-path-to-node=\"16\">\n<div class=\"math-block\" data-math=\"\\text{\u6d41\u52d5\u6bd4\u7387\uff08\\%\uff09} = \\frac{\\text{\u6d41\u52d5\u8cc7\u7523}}{\\text{\u6d41\u52d5\u8ca0\u50b5}} \\times 100\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.14.27.png\" alt=\"\" width=\"407\" height=\"76\" class=\"aligncenter  wp-image-32230\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.14.27.png 664w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.14.27-300x56.png 300w\" sizes=\"(max-width: 407px) 100vw, 407px\" \/><\/div>\n<\/div>\n<h4 data-path-to-node=\"17\">\u6570\u5024\u306e\u5224\u5b9a\u57fa\u6e96<\/h4>\n<ul data-path-to-node=\"18\">\n<li>\n<p data-path-to-node=\"18,0,0\"><b data-path-to-node=\"18,0,0\" data-index-in-node=\"0\">200%\u4ee5\u4e0a<\/b>\uff1a\u7406\u60f3\u7684\uff08\u6d41\u52d5\u6bd4\u7387200%\u30eb\u30fc\u30eb\uff09\u3002\u77ed\u671f\u7684\u306a\u5371\u6a5f\u3078\u306e\u5341\u5206\u306a\u9632\u5fa1\u529b\u3092\u4fdd\u6301\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"18,1,0\"><b data-path-to-node=\"18,1,0\" data-index-in-node=\"0\">120%\u301c150%<\/b>\uff1a\u6a19\u6e96\u7684\u306a\u6c34\u6e96\u3002\u65e5\u5e38\u7684\u306a\u652f\u6255\u3044\u306b\u61f8\u5ff5\u304c\u5c11\u306a\u3044\u72b6\u614b\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"18,2,0\"><b data-path-to-node=\"18,2,0\" data-index-in-node=\"0\">100%\u672a\u6e80<\/b>\uff1a\u5371\u967a\u4fe1\u53f7\u30021\u5e74\u4ee5\u5185\u306b\u6d41\u51fa\u3059\u308b\u73fe\u91d1\u306e\u65b9\u304c\u3001\u6d41\u5165\u3059\u308b\u73fe\u91d1\u3088\u308a\u591a\u304f\u306a\u308b\u69cb\u9020\u7684\u30ea\u30b9\u30af\u3092\u62b1\u3048\u308b\u3002<\/p>\n<\/li>\n<\/ul>\n<h4 data-path-to-node=\"19\">\u30b1\u30fc\u30b9\u30b9\u30bf\u30c7\u30a3\uff08A\u793e\u3068B\u793e\u306e\u6bd4\u8f03\uff09<\/h4>\n<table data-path-to-node=\"20\">\n<thead>\n<tr>\n<td><strong>\u9805\u76ee<\/strong><\/td>\n<td><strong>A\u793e\uff08\u5378\u58f2\u696d\uff09<\/strong><\/td>\n<td><strong>B\u793e\uff08\u98f2\u98df\u30c1\u30a7\u30fc\u30f3\uff09<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><span data-path-to-node=\"20,1,0,0\"><b data-path-to-node=\"20,1,0,0\" data-index-in-node=\"0\">\u6d41\u52d5\u8cc7\u7523<\/b><\/span><\/td>\n<td><span data-path-to-node=\"20,1,1,0\">5,000\u4e07\u5186<\/span><\/td>\n<td><span data-path-to-node=\"20,1,2,0\">2,000\u4e07\u5186<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"20,2,0,0\"><b data-path-to-node=\"20,2,0,0\" data-index-in-node=\"0\">\u6d41\u52d5\u8ca0\u50b5<\/b><\/span><\/td>\n<td><span data-path-to-node=\"20,2,1,0\">2,500\u4e07\u5186<\/span><\/td>\n<td><span data-path-to-node=\"20,2,2,0\">2,500\u4e07\u5186<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"20,3,0,0\"><b data-path-to-node=\"20,3,0,0\" data-index-in-node=\"0\">\u6d41\u52d5\u6bd4\u7387<\/b><\/span><\/td>\n<td><span data-path-to-node=\"20,3,1,0\"><b data-path-to-node=\"20,3,1,0\" data-index-in-node=\"0\">200%<\/b><\/span><\/td>\n<td><span data-path-to-node=\"20,3,2,0\"><b data-path-to-node=\"20,3,2,0\" data-index-in-node=\"0\">80%<\/b><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul data-path-to-node=\"21\">\n<li>\n<p data-path-to-node=\"21,0,0\"><b data-path-to-node=\"21,0,0\" data-index-in-node=\"0\">\u5206\u6790<\/b>\uff1a\u4e00\u898b\u3059\u308b\u3068B\u793e\u306f100%\u672a\u6e80\u3067\u5371\u967a\u306b\u898b\u3048\u307e\u3059\u304c\u3001\u5916\u98df\u7523\u696d\u3084\u5c0f\u58f2\u696d\u3067\u306f\u300c\u73fe\u91d1\u306e\u56de\u53ce\u304c\u5373\u5ea7\uff08\u73fe\u91d1\u5546\u58f2\uff09\u3067\u884c\u308f\u308c\u3001\u4ed5\u5165\u308c\u4ee3\u91d1\u306e\u652f\u6255\u3044\u306f\u5f8c\u6255\u3044\uff08\u8cb7\u639b\u91d1\uff09\u300d\u306b\u306a\u308b\u305f\u3081\u3001\u6d41\u52d5\u6bd4\u7387\u304c100%\u3092\u4e0b\u56de\u3063\u3066\u3082\u8cc7\u91d1\u7e70\u308a\u304c\u7834\u7dbb\u3057\u306a\u3044\u30b1\u30fc\u30b9\u304c\u3042\u308a\u307e\u3059\u3002\u696d\u7a2e\u306e\u30d3\u30b8\u30cd\u30b9\u30e2\u30c7\u30eb\u3092\u4f75\u305b\u3066\u898b\u308b\u3053\u3068\u304c\u4e0d\u53ef\u6b20\u3067\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<h3 data-path-to-node=\"23\">2-2. \u5f53\u5ea7\u6bd4\u7387\uff08Quick Ratio \/ Acid-test Ratio\uff09<\/h3>\n<h4 data-path-to-node=\"24\">\u6d41\u52d5\u6bd4\u7387\u306e\u5f31\u70b9\u3068\u5f53\u5ea7\u6bd4\u7387\u306e\u5fc5\u8981\u6027<\/h4>\n<p data-path-to-node=\"25\">\u6d41\u52d5\u8cc7\u7523\u306e\u4e2d\u306b\u306f\u3001\u58f2\u308c\u6b8b\u3063\u3066\u3057\u307e\u3063\u305f\u300c\u4e0d\u826f\u5728\u5eab\uff08\u68da\u5378\u8cc7\u7523\uff09\u300d\u3084\u3001\u53d6\u5f15\u5148\u306e\u5012\u7523\u3067\u56de\u53ce\u4e0d\u80fd\u306b\u306a\u308b\u30ea\u30b9\u30af\u3092\u306f\u3089\u3093\u3060\u300c\u6ede\u7559\u58f2\u639b\u91d1\u300d\u304c\u542b\u307e\u308c\u3066\u3044\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002\u6d41\u52d5\u6bd4\u7387\u306e\u7518\u3055\u3092\u6392\u3057\u3001<b data-path-to-node=\"25\" data-index-in-node=\"88\">\u6700\u3082\u63db\u91d1\u6027\u306e\u9ad8\u3044\u8cc7\u7523\u306e\u307f<\/b>\u3067\u8a08\u7b97\u3059\u308b\u53b3\u683c\u306a\u6307\u6a19\u304c\u5f53\u5ea7\u6bd4\u7387\u3067\u3059\u3002<\/p>\n<div data-path-to-node=\"26\">\n<div class=\"math-block\" data-math=\"\\text{\u5f53\u5ea7\u6bd4\u7387\uff08\\%\uff09} = \\frac{\\text{\u5f53\u5ea7\u8cc7\u7523\uff08\u73fe\u91d1\u9810\u91d1 \uff0b \u58f2\u639b\u91d1 \uff0b \u6709\u4fa1\u8a3c\u5238\uff09}}{\\text{\u6d41\u52d5\u8ca0\u50b5}} \\times 100\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.15.08-1024x108.png\" alt=\"\" width=\"623\" height=\"66\" class=\"aligncenter  wp-image-32231\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.15.08-1024x108.png 1024w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.15.08-300x32.png 300w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.15.08-768x81.png 768w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.15.08.png 1324w\" sizes=\"(max-width: 623px) 100vw, 623px\" \/><\/div>\n<\/div>\n<h4 data-path-to-node=\"27\">\u76ee\u5b89\u3068\u5b9f\u8df5\u7684\u30a2\u30d7\u30ed\u30fc\u30c1<\/h4>\n<ul data-path-to-node=\"28\">\n<li>\n<p data-path-to-node=\"28,0,0\"><b data-path-to-node=\"28,0,0\" data-index-in-node=\"0\">100%\u4ee5\u4e0a<\/b>\uff1a\u6975\u3081\u3066\u5b89\u5168\u3002\u305f\u3068\u3048\u5546\u54c1\u304c\u5168\u304f\u58f2\u308c\u306a\u304f\u306a\u3063\u3066\u3082\u3001\u624b\u5143\u306e\u78ba\u5b9f\u306a\u91d1\u92ad\u50b5\u6a29\u7b49\u3060\u3051\u3067\u6d41\u52d5\u8ca0\u50b5\u3092\u5168\u984d\u5373\u5ea7\u306b\u5b8c\u6e08\u3067\u304d\u308b\u72b6\u614b\u3002<\/p>\n<\/li>\n<\/ul>\n<h4 data-path-to-node=\"29\">\u30b1\u30fc\u30b9\u30b9\u30bf\u30c7\u30a3\uff08\u6d41\u52d5\u6bd4\u7387\u306e\u30c8\u30e9\u30c3\u30d7\u3092\u898b\u629c\u304f\uff09<\/h4>\n<p data-path-to-node=\"0\" class=\"first-token\"><response-element class=\"no-md\" ng-version=\"0.0.0-PLACEHOLDER\"><code-block _nghost-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-519 enable-luminous-code-block ng-star-inserted\"><\/code-block><\/response-element><\/p>\n<div _ngcontent-ng-c3974374368=\"\" class=\"code-block ng-tns-c3974374368-519 ng-animate-disabled ng-trigger ng-trigger-codeBlockRevealAnimation\" jslog=\"223238;track:impression,attention;BardVeMetadataKey:W1sicl8wMTM4Y2JlOTUxNDMzMDY2IiwiY182NjM3ZTFhMTUxOTE1YTBiIixudWxsLCJyY18zNjJkNDk3ZTMxYjdiMTUyIixudWxsLG51bGwsImphIixudWxsLDEsbnVsbCxudWxsLDEsMF1d\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"formatted-code-block-internal-container ng-tns-c3974374368-519\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"animated-opacity ng-tns-c3974374368-519\">\n<pre _ngcontent-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-519\"><code _ngcontent-ng-c3974374368=\"\" role=\"text\" data-test-id=\"code-content\" class=\"code-container formatted ng-tns-c3974374368-519 no-decoration-radius\">\u3010C\u793e\u306e\u6d41\u52d5\u8cc7\u7523\u306e\u5185\u8a33\u5206\u6790\u3011\r\n\u30fb\u6d41\u52d5\u8cc7\u7523\u5408\u8a08\uff1a10,000\u4e07\u5186\r\n  \u251c\u2500\u2500 \u73fe\u91d1\u9810\u91d1\uff1a1,000\u4e07\u5186\r\n  \u251c\u2500\u2500 \u58f2\u639b\u91d1\uff1a1,000\u4e07\u5186\r\n  \u2514\u2500\u2500 \u68da\u5378\u8cc7\u7523\uff08\u5728\u5eab\uff09\uff1a8,000\u4e07\u5186\uff08\u203b\u3046\u30615,000\u4e07\u5186\u304c\u9577\u671f\u6ede\u7559\u306e\u578b\u843d\u3061\u5728\u5eab\uff09\r\n\u30fb\u6d41\u52d5\u8ca0\u50b5\u5408\u8a08\uff1a5,000\u4e07\u5186\r\n\r\n\uff3b\u6d41\u52d5\u6bd4\u7387\uff3d 10,000\u4e07\u5186 \u00f7 5,000\u4e07\u5186 \u00d7 100 \uff1d 200% \uff08\u6570\u5024\u4e0a\u306f\u5b89\u5168\u3068\u5224\u5b9a\uff09\r\n\uff3b\u5f53\u5ea7\u6bd4\u7387\uff3d (1,000\u4e07\u5186 \uff0b 1,000\u4e07\u5186) \u00f7 5,000\u4e07\u5186 \u00d7 100 \uff1d 40% \uff08\u8457\u3057\u304f\u5371\u967a\u306a\u72b6\u614b\uff09\r\n<\/code><\/pre>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p data-path-to-node=\"31\">\u5f53\u5ea7\u6bd4\u7387\u3092\u7b97\u51fa\u3059\u308b\u3053\u3068\u3067\u3001C\u793e\u304c\u5b9f\u969b\u306e\u652f\u6255\u80fd\u529b\u306b\u6b20\u3051\u3066\u304a\u308a\u3001\u5728\u5eab\u306e\u6295\u3052\u58f2\u308a\u304b\u5916\u90e8\u304b\u3089\u306e\u8ffd\u52a0\u878d\u8cc7\u3092\u53d7\u3051\u306a\u3051\u308c\u3070\u8cc7\u91d1\u30b7\u30e7\u30fc\u30c8\u3092\u8d77\u3053\u3059\u30ea\u30b9\u30af\u304c\u3042\u308b\u3053\u3068\u304c\u5224\u660e\u3057\u307e\u3059\u3002<\/p>\n<h3 data-path-to-node=\"33\">2-3. \u30ad\u30e3\u30c3\u30b7\u30e5\u30fb\u30b3\u30f3\u30d0\u30fc\u30b8\u30e7\u30f3\u30fb\u30b5\u30a4\u30af\u30eb\uff08CCC\uff09<\/h3>\n<h4 data-path-to-node=\"34\">\u304a\u91d1\u306e\u300c\u62d8\u675f\u671f\u9593\u300d\u3092\u53ef\u8996\u5316\u3059\u308b\u6700\u65b0\u5b9f\u52d9\u6307\u6a19<\/h4>\n<p data-path-to-node=\"35\">B\/S\u3068P\/L\u3092\u7d71\u5408\u3057\u3001\u300c\u4ed5\u5165\u308c\u306e\u652f\u6255\u3044\u304b\u3089\u6700\u7d42\u7684\u306a\u58f2\u4e0a\u4ee3\u91d1\u306e\u56de\u53ce\u307e\u3067\u306b\u4f55\u65e5\u304b\u304b\u308b\u304b\u300d\u3092\u6e2c\u308b\u8cc7\u91d1\u52b9\u7387\u6307\u6a19\u3067\u3059\u3002<\/p>\n<div data-path-to-node=\"36\">\n<div class=\"math-block\" data-math=\"\\text{CCC\uff08\u65e5\uff09} = \\text{\u58f2\u4e0a\u50b5\u6a29\u56de\u8ee2\u671f\u9593} + \\text{\u68da\u5378\u8cc7\u7523\u56de\u8ee2\u671f\u9593} - \\text{\u4ed5\u5165\u50b5\u52d9\u56de\u8ee2\u671f\u9593}\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.15.46-1024x66.png\" alt=\"\" width=\"682\" height=\"44\" class=\"aligncenter  wp-image-32232\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.15.46-1024x66.png 1024w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.15.46-300x19.png 300w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.15.46-768x49.png 768w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.15.46.png 1372w\" sizes=\"(max-width: 682px) 100vw, 682px\" \/><\/div>\n<\/div>\n<ul data-path-to-node=\"37\">\n<li>\n<p data-path-to-node=\"37,0,0\"><b data-path-to-node=\"37,0,0\" data-index-in-node=\"0\">\u58f2\u4e0a\u50b5\u6a29\u56de\u8ee2\u671f\u9593<\/b>\uff1a<img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.16.14.png\" alt=\"\" width=\"241\" height=\"38\" class=\"aligncenter  wp-image-32233\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.16.14.png 700w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.16.14-300x47.png 300w\" sizes=\"(max-width: 241px) 100vw, 241px\" \/><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"37,1,0\"><b data-path-to-node=\"37,1,0\" data-index-in-node=\"0\">\u68da\u5378\u8cc7\u7523\u56de\u8ee2\u671f\u9593<\/b>\uff1a<img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.17.04.png\" alt=\"\" width=\"194\" height=\"45\" class=\"aligncenter  wp-image-32235\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.17.04.png 536w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.17.04-300x69.png 300w\" sizes=\"(max-width: 194px) 100vw, 194px\" \/><\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"37,1,0\"><span class=\"math-inline\" data-math=\"\\frac{\\text{\u68da\u5378\u8cc7\u7523}}{\\text{\u58f2\u4e0a\u539f\u4fa1}} \\times 365\" data-index-in-node=\"9\"><\/span><b data-path-to-node=\"37,2,0\" data-index-in-node=\"0\">\u4ed5\u5165\u50b5\u52d9\u56de\u8ee2\u671f\u9593<\/b>\uff1a<img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.17.37.png\" alt=\"\" width=\"255\" height=\"39\" class=\"aligncenter  wp-image-32236\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.17.37.png 706w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.17.37-300x46.png 300w\" sizes=\"(max-width: 255px) 100vw, 255px\" \/><\/p>\n<\/li>\n<\/ul>\n<p data-path-to-node=\"0\" class=\"first-token\"><response-element class=\"no-md\" ng-version=\"0.0.0-PLACEHOLDER\"><code-block _nghost-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-520 enable-luminous-code-block ng-star-inserted\"><\/code-block><\/response-element><\/p>\n<div _ngcontent-ng-c3974374368=\"\" class=\"code-block ng-tns-c3974374368-520 ng-animate-disabled ng-trigger ng-trigger-codeBlockRevealAnimation\" jslog=\"223238;track:impression,attention;BardVeMetadataKey:W1sicl8wMTM4Y2JlOTUxNDMzMDY2IiwiY182NjM3ZTFhMTUxOTE1YTBiIixudWxsLCJyY18zNjJkNDk3ZTMxYjdiMTUyIixudWxsLG51bGwsImphIixudWxsLDEsbnVsbCxudWxsLDEsMF1d\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"formatted-code-block-internal-container ng-tns-c3974374368-520\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"animated-opacity ng-tns-c3974374368-520\">\n<pre _ngcontent-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-520\"><code _ngcontent-ng-c3974374368=\"\" role=\"text\" data-test-id=\"code-content\" class=\"code-container formatted ng-tns-c3974374368-520 no-decoration-radius\">\u3010\u8cc7\u91d1\u306e\u62d8\u675f\u30d5\u30ed\u30fc\u3011\r\n\r\n  \u4ed5\u5165\uff08\u8cb7\u639b\u767a\u751f\uff09          \u624b\u5f62\u30fb\u8cb7\u639b\u91d1\u652f\u6255          \u58f2\u4e0a\u91d1\u56de\u53ce\r\n  \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\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\u2534\u2500\u2500\u2500\u25b6\r\n     \u2502\u25c4\u2500\u2500 \u4ed5\u5165\u50b5\u52d9\u56de\u8ee2\u671f\u9593 \u2500\u2500\u2500\u25ba\u2502                         \u2502\r\n     \u2502                         \u2502\u25c4\u2500\u2500\u2500\u2500\u2500 CCC (\u624b\u5143\u8cc7\u91d1\u62d8\u675f) \u2500\u2500\u2500\u2500\u2500\u2500\u25ba\u2502\r\n     \u2502\u25c4\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500 \u68da\u5378\u8cc7\u7523\u30fb\u58f2\u4e0a\u50b5\u6a29\u56de\u53ce\u671f\u9593 \u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u25ba\u2502\r\n<\/code><\/pre>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<h4 data-path-to-node=\"39\">CCC\u306e\u8a55\u4fa1\u57fa\u6e96<\/h4>\n<ul data-path-to-node=\"40\">\n<li>\n<p data-path-to-node=\"40,0,0\">CCC\u304c<b data-path-to-node=\"40,0,0\" data-index-in-node=\"4\">\u77ed\u3044\u307b\u3069<\/b>\u3001\u4e8b\u696d\u3092\u56de\u3059\u305f\u3081\u306e\u624b\u5143\u8cc7\u91d1\u304c\u5c11\u306a\u304f\u3066\u6e08\u307f\u3001\u8cc7\u91d1\u7e70\u308a\u304c\u697d\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"40,1,0\"><b data-path-to-node=\"40,1,0\" data-index-in-node=\"0\">\u30de\u30a4\u30ca\u30b9\u306eCCC\uff08Amazon\u30e2\u30c7\u30eb\u306a\u3069\uff09<\/b>\uff1a\u5546\u54c1\u304c\u58f2\u308c\u3066\u4ee3\u91d1\u304c\u56de\u53ce\u3055\u308c\u305f\u5f8c\u306b\u3001\u4ed5\u5165\u308c\u5148\u306b\u4ee3\u91d1\u3092\u652f\u6255\u3046\u4ed5\u7d44\u307f\u3002\u81ea\u793e\u306e\u8cc7\u91d1\u3092\u4e00\u5207\u50b7\u3064\u3051\u305a\u306b\u4ed6\u4eba\u306e\u8cc7\u91d1\u3067\u4e8b\u696d\u3092\u5c55\u958b\u3067\u304d\u308b\u7406\u60f3\u7684\u306a\u8ca1\u52d9\u72b6\u614b\u3067\u3059\u3002<\/p>\n<\/li>\n<\/ul>\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=\"42\">3. \u4e2d\u9577\u671f\u306e\u5012\u7523\u30ea\u30b9\u30af\u30fb\u69cb\u9020\u7684\u5b89\u5b9a\u6027\u3092\u6e2c\u308b\u300c\u5065\u5168\u6027\u5206\u6790\u300d<\/h2>\n<p data-path-to-node=\"43\">\u6570\u5e74\u5358\u4f4d\u306e\u9577\u671f\u7684\u306a\u4e0d\u6cc1\u3084\u7a81\u767a\u7684\u306a\u30b7\u30e7\u30c3\u30af\u306b\u5bfe\u5fdc\u3067\u304d\u308b\u3001\u4f1a\u793e\u306e\u57fa\u790e\u4f53\u529b\u3092\u6e2c\u5b9a\u3057\u307e\u3059\u3002<\/p>\n<h3 data-path-to-node=\"44\">3-1. \u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\uff08Equity Ratio\uff09<\/h3>\n<h4 data-path-to-node=\"45\">\u5b9a\u7fa9\u3068\u8a08\u7b97\u30e1\u30ab\u30cb\u30ba\u30e0<\/h4>\n<p data-path-to-node=\"46\">\u7dcf\u8cc7\u7523\uff08\u3059\u3079\u3066\u306e\u8abf\u9054\u8cc7\u91d1\uff09\u306e\u3046\u3061\u3001\u8fd4\u6e08\u7fa9\u52d9\u304c\u306a\u3044\u81ea\u524d\u8cc7\u91d1\uff08\u81ea\u5df1\u8cc7\u672c\uff09\u304c\u3069\u308c\u3060\u3051\u3042\u308b\u304b\u3092\u793a\u3057\u307e\u3059\u3002<\/p>\n<div data-path-to-node=\"47\">\n<div class=\"math-block\" data-math=\"\\text{\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\uff08\\%\uff09} = \\frac{\\text{\u81ea\u5df1\u8cc7\u672c\uff08\u7d14\u8cc7\u7523\uff09}}{\\text{\u7dcf\u8cc7\u7523}} \\times 100\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.18.33.png\" alt=\"\" width=\"473\" height=\"58\" class=\"aligncenter  wp-image-32237\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.18.33.png 946w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.18.33-300x37.png 300w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.18.33-768x94.png 768w\" sizes=\"(max-width: 473px) 100vw, 473px\" \/><\/div>\n<\/div>\n<h4 data-path-to-node=\"48\">\u8a55\u4fa1\u57fa\u6e96\uff08\u5168\u696d\u7a2e\u5e73\u5747\u30fb\u696d\u754c\u5225\u683c\u5dee\uff09<\/h4>\n<table data-path-to-node=\"49\">\n<thead>\n<tr>\n<td><strong>\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387<\/strong><\/td>\n<td><strong>\u72b6\u614b\u30fb\u7d4c\u55b6\u5224\u65ad<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><span data-path-to-node=\"49,1,0,0\"><b data-path-to-node=\"49,1,0,0\" data-index-in-node=\"0\">50%\u4ee5\u4e0a<\/b><\/span><\/td>\n<td><span data-path-to-node=\"49,1,1,0\"><b data-path-to-node=\"49,1,1,0\" data-index-in-node=\"0\">\u8d85\u8ca1\u52d9\u5065\u5168<\/b>\uff1a\u91d1\u5229\u4e0a\u6607\u3084\u666f\u6c17\u5f8c\u9000\u306b\u3073\u304f\u3068\u3082\u3057\u306a\u3044\u5f37\u56fa\u306a\u8ca1\u52d9\u76e4\u77f3\u4f01\u696d<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"49,2,0,0\"><b data-path-to-node=\"49,2,0,0\" data-index-in-node=\"0\">30%\u301c40%<\/b><\/span><\/td>\n<td><span data-path-to-node=\"49,2,1,0\"><b data-path-to-node=\"49,2,1,0\" data-index-in-node=\"0\">\u826f\u597d\u30fb\u6a19\u6e96<\/b>\uff1a\u9280\u884c\u304b\u3089\u306e\u4fe1\u7528\u529b\u3082\u9ad8\u304f\u3001\u8ffd\u52a0\u878d\u8cc7\u304c\u5bb9\u6613\u306b\u5f15\u304d\u51fa\u305b\u308b\u57fa\u6e96<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"49,3,0,0\"><b data-path-to-node=\"49,3,0,0\" data-index-in-node=\"0\">10%\u301c20%<\/b><\/span><\/td>\n<td><span data-path-to-node=\"49,3,1,0\"><b data-path-to-node=\"49,3,1,0\" data-index-in-node=\"0\">\u6ce8\u610f<\/b>\uff1a\u501f\u5165\u91d1\u4f9d\u5b58\u5ea6\u304c\u9ad8\u304f\u3001\u696d\u7e3e\u60aa\u5316\u6642\u306e\u91d1\u5229\u8ca0\u62c5\u304c\u7d4c\u55b6\u3092\u5727\u8feb<\/span><\/td>\n<\/tr>\n<tr>\n<td><span data-path-to-node=\"49,4,0,0\"><b data-path-to-node=\"49,4,0,0\" data-index-in-node=\"0\">0%\u672a\u6e80<\/b><\/span><\/td>\n<td><span data-path-to-node=\"49,4,1,0\"><b data-path-to-node=\"49,4,1,0\" data-index-in-node=\"0\">\u50b5\u52d9\u8d85\u904e<\/b>\uff1a\u8ca0\u50b5\u306e\u984d\u304c\u8cc7\u7523\u3092\u4e0a\u56de\u308a\u3001\u5b9f\u8cea\u7684\u306a\u7834\u7dbb\u72b6\u614b<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3 data-path-to-node=\"51\">3-2. \u56fa\u5b9a\u6bd4\u7387\u3068\u56fa\u5b9a\u9577\u671f\u9069\u5408\u7387\uff08\u8a2d\u5099\u6295\u8cc7\u306e\u59a5\u5f53\u6027\uff09<\/h3>\n<p data-path-to-node=\"52\">\u9577\u671f\u306b\u308f\u305f\u3063\u3066\u73fe\u91d1\u5316\u3055\u308c\u306a\u3044\u300c\u56fa\u5b9a\u8cc7\u7523\uff08\u5de5\u5834\u30fb\u571f\u5730\u30fb\u30d3\u30eb\u30fb\u8a2d\u5099\uff09\u300d\u3092\u3001\u3069\u306e\u3088\u3046\u306a\u6027\u8cea\u306e\u8cc7\u91d1\u3067\u8cfc\u5165\u3057\u3066\u3044\u308b\u304b\u3092\u898b\u308b\u6307\u6a19\u3067\u3059\u3002<\/p>\n<h4 data-path-to-node=\"53\">\u2460 \u56fa\u5b9a\u6bd4\u7387\uff08\u7406\u60f3\u306e\u59ff\uff09<\/h4>\n<div data-path-to-node=\"54\">\n<div class=\"math-block\" data-math=\"\\text{\u56fa\u5b9a\u6bd4\u7387\uff08\\%\uff09} = \\frac{\\text{\u56fa\u5b9a\u8cc7\u7523}}{\\text{\u81ea\u5df1\u8cc7\u672c}} \\times 100\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.19.10.png\" alt=\"\" width=\"334\" height=\"65\" class=\"aligncenter  wp-image-32239\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.19.10.png 668w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.19.10-300x58.png 300w\" sizes=\"(max-width: 334px) 100vw, 334px\" \/><\/div>\n<\/div>\n<ul data-path-to-node=\"55\">\n<li>\n<p data-path-to-node=\"55,0,0\"><b data-path-to-node=\"55,0,0\" data-index-in-node=\"0\">100%\u4ee5\u4e0b\u304c\u7406\u60f3<\/b>\uff1a\u8fd4\u6e08\u4e0d\u8981\u306a\u300c\u81ea\u5df1\u8cc7\u672c\u300d\u306e\u7bc4\u56f2\u5185\u3067\u56fa\u5b9a\u8cc7\u7523\u3092\u8cfc\u5165\u3067\u304d\u3066\u3044\u308b\u72b6\u614b\u3002\u8cc7\u91d1\u8abf\u9054\u306e\u89b3\u70b9\u304b\u3089\u6700\u3082\u5b89\u5168\u3067\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<h4 data-path-to-node=\"56\">\u2461 \u56fa\u5b9a\u9577\u671f\u9069\u5408\u7387\uff08\u5b9f\u52d9\u7684\u306a\u59a5\u5f53\u6027\uff09<\/h4>\n<div data-path-to-node=\"57\">\n<div class=\"math-block\" data-math=\"\\text{\u56fa\u5b9a\u9577\u671f\u9069\u5408\u7387\uff08\\%\uff09} = \\frac{\\text{\u56fa\u5b9a\u8cc7\u7523}}{\\text{\u81ea\u5df1\u8cc7\u672c} + \\text{\u56fa\u5b9a\u8ca0\u50b5}} \\times 100\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.19.38.png\" alt=\"\" width=\"440\" height=\"55\" class=\"aligncenter  wp-image-32241\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.19.38.png 994w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.19.38-300x37.png 300w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.19.38-768x96.png 768w\" sizes=\"(max-width: 440px) 100vw, 440px\" \/><\/div>\n<\/div>\n<ul data-path-to-node=\"58\">\n<li>\n<p data-path-to-node=\"58,0,0\">\u6210\u9577\u4f01\u696d\u3084\u8a2d\u5099\u6295\u8cc7\u304c\u4e0d\u53ef\u6b20\u306a\u88fd\u9020\u696d\u3067\u306f\u3001\u56fa\u5b9a\u6bd4\u7387\u304c100%\u3092\u8d85\u3048\u308b\u306e\u304c\u4e00\u822c\u7684\u3067\u3059\u3002\u305d\u306e\u969b\u3001\u4e0d\u8db3\u5206\u3092\u300c\u9577\u671f\u501f\u5165\u91d1\u3084\u793e\u50b5\uff08\u56fa\u5b9a\u8ca0\u50b5\uff09\u300d\u3068\u3044\u3046<b data-path-to-node=\"58,0,0\" data-index-in-node=\"68\">\u9577\u671f\u8fd4\u6e08\u306e\u8cc7\u91d1<\/b>\u3067\u5145\u5f53\u3067\u304d\u3066\u3044\u308c\u3070\u3001\u5373\u5ea7\u306b\u7834\u7dbb\u3059\u308b\u3053\u3068\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"58,1,0\"><b data-path-to-node=\"58,1,0\" data-index-in-node=\"0\">100%\u4ee5\u4e0b\u304c\u7d76\u5bfe\u6761\u4ef6<\/b>\uff1a100%\u3092\u8d85\u3048\u3066\u3044\u308b\u5834\u5408\u3001\u300c1\u5e74\u4ee5\u5185\u306b\u8fd4\u3055\u306a\u3051\u308c\u3070\u3044\u3051\u306a\u3044\u77ed\u671f\u501f\u5165\u91d1\u300d\u3067\u300c\u56de\u53ce\u306b\u4f55\u5e74\u3082\u304b\u304b\u308b\u5de5\u5834\u3084\u5e97\u8217\u300d\u3092\u8cb7\u3063\u3066\u3044\u308b\u3053\u3068\u3092\u610f\u5473\u3057\u3001\u6975\u3081\u3066\u5371\u967a\u306a\u30df\u30b9\u30de\u30c3\u30c1\u3092\u8d77\u3053\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<p data-path-to-node=\"0\" class=\"first-token\"><response-element class=\"no-md\" ng-version=\"0.0.0-PLACEHOLDER\"><code-block _nghost-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-521 enable-luminous-code-block ng-star-inserted\"><\/code-block><\/response-element><\/p>\n<div _ngcontent-ng-c3974374368=\"\" class=\"code-block ng-tns-c3974374368-521 ng-animate-disabled ng-trigger ng-trigger-codeBlockRevealAnimation\" jslog=\"223238;track:impression,attention;BardVeMetadataKey:W1sicl8wMTM4Y2JlOTUxNDMzMDY2IiwiY182NjM3ZTFhMTUxOTE1YTBiIixudWxsLCJyY18zNjJkNDk3ZTMxYjdiMTUyIixudWxsLG51bGwsImphIixudWxsLDEsbnVsbCxudWxsLDEsMF1d\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"formatted-code-block-internal-container ng-tns-c3974374368-521\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"animated-opacity ng-tns-c3974374368-521\">\n<pre _ngcontent-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-521\"><code _ngcontent-ng-c3974374368=\"\" role=\"text\" data-test-id=\"code-content\" class=\"code-container formatted ng-tns-c3974374368-521 no-decoration-radius\">\u3010\u56fa\u5b9a\u69cb\u9020\u306e\u9069\u6b63\u30fb\u4e0d\u9069\u6b63\u6bd4\u8f03\u3011\r\n\r\n  \uff3b\u5b89\u5168\u306a\u72b6\u614b\uff1a100%\u4ee5\u4e0b\uff3d          \uff3b\u5371\u967a\u306a\u72b6\u614b\uff1a100%\u8d85\uff3d\r\n\u250c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u252c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2510        \u250c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u252c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2510\r\n\u2502           \u2502 \u81ea\u5df1\u8cc7\u672c  \u2502        \u2502           \u2502 \u81ea\u5df1\u8cc7\u672c  \u2502\r\n\u2502 \u56fa\u5b9a\u8cc7\u7523  \u251c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2524        \u2502 \u56fa\u5b9a\u8cc7\u7523  \u251c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2524\r\n\u2502 (100\u4e07\u5186) \u2502 \u56fa\u5b9a\u8ca0\u50b5  \u2502        \u2502 (150\u4e07\u5186) \u2502 \u56fa\u5b9a\u8ca0\u50b5  \u2502\r\n\u2502           \u2502 (120\u4e07\u5186) \u2502        \u251c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u253c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2524\r\n\u2514\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2534\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2518        \u2502           \u2502 \u6d41\u52d5\u8ca0\u50b5  \u2502\r\n \u56fa\u5b9a\u9577\u671f\u9069\u5408\u7387 = 100\/120 = 83%   \u2514\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2534\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2518\r\n                                  \u56fa\u5b9a\u9577\u671f\u9069\u5408\u7387 = 150\/120 = 125%\r\n                                  (\u77ed\u671f\u501f\u5165\u91d1\u3067\u56fa\u5b9a\u8cc7\u7523\u3092\u8cfc\u5165)\r\n<\/code><\/pre>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<h3 data-path-to-node=\"61\">3-3. \u6709\u5229\u5b50\u8ca0\u50b5\u500d\u7387\uff08Leverage &amp; Debt Coverage\uff09<\/h3>\n<p data-path-to-node=\"62\">\u501f\u5165\u91d1\uff08\u6709\u5229\u5b50\u8ca0\u50b5\uff09\u306e\u7d76\u5bfe\u984d\u304c\u3001\u4f01\u696d\u306e\u7a3c\u3050\u529b\u3084\u6301\u3063\u3066\u3044\u308b\u8cc7\u7523\u306b\u5bfe\u3057\u3066\u904e\u5927\u3067\u306a\u3044\u304b\u3092\u8a55\u4fa1\u3057\u307e\u3059\u3002<\/p>\n<h4 data-path-to-node=\"63\">\u6709\u5229\u5b50\u8ca0\u50b5\u6bd4\u7387<\/h4>\n<div data-path-to-node=\"64\">\n<div class=\"math-block\" data-math=\"\\text{\u6709\u5229\u5b50\u8ca0\u50b5\u6bd4\u7387\uff08\\%\uff09} = \\frac{\\text{\u6709\u5229\u5b50\u8ca0\u50b5\uff08\u77ed\u671f\u501f\u5165\u91d1\uff0b\u9577\u671f\u501f\u5165\u91d1\uff0b\u793e\u50b5\u306a\u3069\uff09}}{\\text{\u81ea\u5df1\u8cc7\u672c}} \\times 100\">\u6709\u5229\u5b50\u8ca0\u50b5\u6bd4\u7387\uff08%\uff09 <img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.20.18-1024x102.png\" alt=\"\" width=\"575\" height=\"57\" class=\"aligncenter  wp-image-32242\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.20.18-1024x102.png 1024w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.20.18-300x30.png 300w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.20.18-768x77.png 768w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.20.18.png 1122w\" sizes=\"(max-width: 575px) 100vw, 575px\" \/><\/div>\n<\/div>\n<ul data-path-to-node=\"65\">\n<li>\n<p data-path-to-node=\"65,0,0\"><b data-path-to-node=\"65,0,0\" data-index-in-node=\"0\">100%\uff081.0\u500d\uff09\u4ee5\u4e0b<\/b>\u304c\u5065\u5168\u6027\u306e\u76ee\u5b89\u3002\u81ea\u5df1\u8cc7\u672c\u3092\u4e0a\u56de\u308b\u501f\u5165\u91d1\u3092\u6301\u3064\u4f01\u696d\u306f\u3001\u91d1\u5229\u4e0a\u6607\u5c40\u9762\u3067\u6025\u6fc0\u306b\u5229\u6255\u3044\u8ca0\u62c5\u304c\u5897\u52a0\u3057\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<h4 data-path-to-node=\"66\">\u6709\u5229\u5b50\u8ca0\u50b5\u5bfe\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u6bd4\u7387\uff08\u8fd4\u6e08\u80fd\u529b\uff09<\/h4>\n<div data-path-to-node=\"67\">\n<div class=\"math-block\" data-math=\"\\text{\u6709\u5229\u5b50\u8ca0\u50b5\u5bfeCF\u6bd4\u7387\uff08\u5e74\uff09} = \\frac{\\text{\u6709\u5229\u5b50\u8ca0\u50b5}}{\\text{\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc}}\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.21.37.png\" alt=\"\" width=\"469\" height=\"59\" class=\"aligncenter  wp-image-32243\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.21.37.png 1018w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.21.37-300x38.png 300w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.21.37-768x97.png 768w\" sizes=\"(max-width: 469px) 100vw, 469px\" \/><\/div>\n<\/div>\n<ul data-path-to-node=\"68\">\n<li>\n<p data-path-to-node=\"68,0,0\">\u73fe\u5728\u306e\u5e74\u9593\u672c\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3067\u3001\u3059\u3079\u3066\u306e\u501f\u5165\u91d1\u3092\u4f55\u5e74\u3067\u5b8c\u6e08\u3067\u304d\u308b\u304b\u3092\u793a\u3057\u307e\u3059\u3002<b data-path-to-node=\"68,0,0\" data-index-in-node=\"40\">10\u5e74\u4ee5\u5185<\/b>\u3067\u3042\u308c\u3070\u8fd4\u6e08\u80fd\u529b\u304c\u9ad8\u3044\u3068\u307f\u306a\u3055\u308c\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\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=\"70\">4. \u8cc7\u7523\u904b\u7528\u306e\u7121\u99c4\u3092\u524a\u304e\u843d\u3068\u3059\u300c\u52b9\u7387\u6027\u5206\u6790\u300d<\/h2>\n<p data-path-to-node=\"71\">B\/S\u306e\u5de6\u5074\uff08\u8cc7\u7523\uff09\u3092\u4f7f\u3044\u3001P\/L\uff08\u640d\u76ca\u8a08\u7b97\u66f8\uff09\u306e\u58f2\u4e0a\u3084\u5229\u76ca\u3092\u3069\u308c\u3060\u3051\u7121\u99c4\u306a\u304f\u751f\u307f\u51fa\u305b\u3066\u3044\u308b\u304b\u3092\u898b\u308b\u8996\u70b9\u3067\u3059\u3002<\/p>\n<h3 data-path-to-node=\"72\">4-1. \u7dcf\u8cc7\u7523\u56de\u8ee2\u7387\uff08Asset Turnover\uff09<\/h3>\n<div data-path-to-node=\"73\">\n<div class=\"math-block\" data-math=\"\\text{\u7dcf\u8cc7\u7523\u56de\u8ee2\u7387\uff08\u56de\uff09} = \\frac{\\text{\u58f2\u4e0a\u9ad8}}{\\text{\u7dcf\u8cc7\u7523}}\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.22.03.png\" alt=\"\" width=\"373\" height=\"69\" class=\"aligncenter  wp-image-32244\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.22.03.png 648w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.22.03-300x56.png 300w\" sizes=\"(max-width: 373px) 100vw, 373px\" \/><\/div>\n<\/div>\n<ul data-path-to-node=\"74\">\n<li>\n<p data-path-to-node=\"74,0,0\"><b data-path-to-node=\"74,0,0\" data-index-in-node=\"0\">\u610f\u5473<\/b>\uff1a1\u5e74\u9593\u3067\u3001\u4f1a\u793e\u304c\u6301\u3064\u5168\u8cc7\u7523\u304c\u4f55\u56de\u300c\u58f2\u4e0a\u300d\u3068\u3057\u3066\u56de\u8ee2\u30fb\u5faa\u74b0\u3057\u305f\u304b\u3092\u793a\u3057\u307e\u3059\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"74,1,0\"><b data-path-to-node=\"74,1,0\" data-index-in-node=\"0\">1.0\u56de\u8ee2\u4ee5\u4e0a<\/b>\u304c\u76ee\u5b89\u3002\u56de\u8ee2\u7387\u304c\u4f4e\u3044\u5834\u5408\u3001\u4f7f\u308f\u308c\u3066\u3044\u306a\u3044\u4e0d\u52d5\u7523\uff08\u904a\u4f11\u8cc7\u7523\uff09\u3001\u58f2\u308c\u6b8b\u3063\u305f\u5728\u5eab\u3001\u904e\u5270\u306a\u73fe\u91d1\u7559\u4fdd\u306a\u3069\u3001\u300c\u4ed5\u4e8b\u3092\u3057\u3066\u3044\u306a\u3044\u8cc7\u7523\u300d\u304cB\/S\u3092\u80a5\u5927\u5316\u3055\u305b\u3066\u3044\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<h3 data-path-to-node=\"76\">4-2. ROE\uff08\u81ea\u5df1\u8cc7\u672c\u5229\u76ca\u7387\uff09\u3068\u30c7\u30e5\u30dd\u30f3\u5206\u6790<\/h3>\n<p data-path-to-node=\"77\">\u6295\u8cc7\u5bb6\u304c\u6700\u3082\u91cd\u8996\u3059\u308b\u6307\u6a19\u3067\u3042\u308bROE\uff08\u81ea\u5df1\u8cc7\u672c\u5229\u76ca\u7387\uff09\u306f\u3001B\/S\uff08\u81ea\u5df1\u8cc7\u672c\uff09\u3068P\/L\uff08\u5f53\u671f\u7d14\u5229\u76ca\uff09\u3092\u7e4b\u3050\u7dcf\u5408\u6307\u6a19\u3067\u3059\u3002<\/p>\n<div data-path-to-node=\"78\">\n<div class=\"math-block\" data-math=\"\\text{ROE\uff08\\%\uff09} = \\frac{\\text{\u5f53\u671f\u7d14\u5229\u76ca}}{\\text{\u81ea\u5df1\u8cc7\u672c}} \\times 100\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.22.24.png\" alt=\"\" width=\"354\" height=\"70\" class=\"aligncenter  wp-image-32245\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.22.24.png 648w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.22.24-300x59.png 300w\" sizes=\"(max-width: 354px) 100vw, 354px\" \/><\/div>\n<\/div>\n<p data-path-to-node=\"79\">\u30c7\u30e5\u30dd\u30f3\u5206\u6790\uff08DuPont Analysis\uff09\u3092\u7528\u3044\u308b\u3053\u3068\u3067\u3001ROE\u30923\u3064\u306e\u8981\u7d20\u306b\u5206\u89e3\u3057\u3066\u5f37\u307f\u30fb\u5f31\u307f\u3092\u89e3\u5256\u3067\u304d\u307e\u3059\u3002<\/p>\n<div data-path-to-node=\"80\">\n<div class=\"math-block\" data-math=\"\\text{ROE} = \\underbrace{\\frac{\\text{\u5f53\u671f\u7d14\u5229\u76ca}}{\\text{\u58f2\u4e0a\u9ad8}}}_{\\text{\u2460 \u58f2\u4e0a\u9ad8\u7d14\u5229\u76ca\u7387\uff08\u53ce\u76ca\u6027\uff09}} \\times \\underbrace{\\frac{\\text{\u58f2\u4e0a\u9ad8}}{\\text{\u7dcf\u8cc7\u7523}}}_{\\text{\u2461 \u7dcf\u8cc7\u7523\u56de\u8ee2\u7387\uff08\u52b9\u7387\u6027\uff09}} \\times \\underbrace{\\frac{\\text{\u7dcf\u8cc7\u7523}}{\\text{\u81ea\u5df1\u8cc7\u672c}}}_{\\text{\u2462 \u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\uff08\u5b89\u5168\u6027\uff09}}\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.22.50-1024x144.png\" alt=\"\" width=\"569\" height=\"80\" class=\"aligncenter  wp-image-32246\" srcset=\"https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.22.50-1024x144.png 1024w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.22.50-300x42.png 300w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.22.50-768x108.png 768w, https:\/\/official.gfs.tokyo\/blog\/wp-content\/uploads\/2026\/10\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2026-10-07-13.22.50.png 1354w\" sizes=\"(max-width: 569px) 100vw, 569px\" \/><\/div>\n<\/div>\n<p data-path-to-node=\"0\" class=\"first-token\"><response-element class=\"no-md\" ng-version=\"0.0.0-PLACEHOLDER\"><code-block _nghost-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-522 enable-luminous-code-block ng-star-inserted\"><\/code-block><\/response-element><\/p>\n<div _ngcontent-ng-c3974374368=\"\" class=\"code-block ng-tns-c3974374368-522 ng-animate-disabled ng-trigger ng-trigger-codeBlockRevealAnimation\" jslog=\"223238;track:impression,attention;BardVeMetadataKey:W1sicl8wMTM4Y2JlOTUxNDMzMDY2IiwiY182NjM3ZTFhMTUxOTE1YTBiIixudWxsLCJyY18zNjJkNDk3ZTMxYjdiMTUyIixudWxsLG51bGwsImphIixudWxsLDEsbnVsbCxudWxsLDEsMF1d\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"formatted-code-block-internal-container ng-tns-c3974374368-522\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"animated-opacity ng-tns-c3974374368-522\">\n<pre _ngcontent-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-522\"><code _ngcontent-ng-c3974374368=\"\" role=\"text\" data-test-id=\"code-content\" class=\"code-container formatted ng-tns-c3974374368-522 no-decoration-radius\">\u3010\u30c7\u30e5\u30dd\u30f3\u5206\u89e3\u306b\u3088\u308bROE\u6539\u5584\u30a2\u30d7\u30ed\u30fc\u30c1\u3011\r\n\r\n       \u250c\u2500\u2500 \u2460 \u58f2\u4e0a\u9ad8\u7d14\u5229\u76ca\u7387\u3092\u9ad8\u3081\u308b\uff08\u9ad8\u4ed8\u52a0\u4fa1\u5024\u5316\u3001\u30b3\u30b9\u30c8\u524a\u6e1b\uff09\r\nROE \u2500\u2500\u2500\u253c\u2500\u2500 \u2461 \u7dcf\u8cc7\u7523\u56de\u8ee2\u7387\u3092\u9ad8\u3081\u308b\uff08\u4e0d\u8981\u8cc7\u7523\u306e\u58f2\u5374\u3001\u5728\u5eab\u5727\u7e2e\uff09\r\n       \u2514\u2500\u2500 \u2462 \u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u3092\u9ad8\u3081\u308b\uff08\u9069\u6b63\u306a\u501f\u5165\u91d1\u306e\u6d3b\u7528\u30fb\u81ea\u793e\u682a\u8cb7\u3044\uff09\r\n<\/code><\/pre>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<ul 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\">\u6ce8\u610f\u3059\u3079\u304d\u300c\u8cea\u306e\u60aa\u3044ROE\u4e0a\u6607\u300d<\/b>\uff1a\u2462\u306e\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u3092\u6975\u7aef\u306b\u4e0a\u3052\u3066\uff08\u8ca0\u50b5\u3092\u5897\u3084\u3057\u3066\u81ea\u5df1\u8cc7\u672c\u306e\u5272\u5408\u3092\u6e1b\u3089\u3059\uff09\u3001ROE\u306e\u898b\u6804\u3048\u3092\u826f\u304f\u3057\u3066\u3044\u308b\u5834\u5408\u3001\u5b89\u5168\u6027\uff08\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\uff09\u304c\u6975\u7aef\u306b\u4f4e\u4e0b\u3057\u3066\u3044\u308b\u30ea\u30b9\u30af\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<h2 data-path-to-node=\"84\">5. \u5b9f\u8df5\uff1aB\/S\u304b\u3089\u898b\u629c\u304f\u300c\u4f01\u696d\u306e\u7570\u5909\u300d\u3068\u30c1\u30a7\u30c3\u30af\u30ea\u30b9\u30c8<\/h2>\n<p data-path-to-node=\"85\">\u5b9f\u969b\u306e\u6c7a\u7b97\u66f8\u3084\u4f01\u696d\u306e\u8ca1\u52d9\u8af8\u8868\u3092\u8aad\u307f\u89e3\u304f\u969b\u3001\u3069\u306e\u3088\u3046\u306a\u5371\u967a\u30b5\u30a4\u30f3\uff08\u30ec\u30c3\u30c9\u30d5\u30e9\u30b0\uff09\u3092\u691c\u51fa\u3059\u3079\u304d\u304b\u3092\u7db2\u7f85\u7684\u306b\u63d0\u793a\u3057\u307e\u3059\u3002<\/p>\n<h3 data-path-to-node=\"86\">5-1. B\/S\u7570\u5909\u306e\u5371\u967a\u30b5\u30a4\u30f3\uff08\u30ec\u30c3\u30c9\u30d5\u30e9\u30b0\uff09<\/h3>\n<ol start=\"1\" data-path-to-node=\"87\">\n<li>\n<p data-path-to-node=\"87,0,0\"><b data-path-to-node=\"87,0,0\" data-index-in-node=\"0\">\u300c\u58f2\u4e0a\u9ad8\u306e\u4f38\u3073\u300d\u3092\u8d85\u3048\u308b\u300c\u58f2\u639b\u91d1\u306e\u6025\u5897\u300d<\/b><\/p>\n<ul data-path-to-node=\"87,0,1\">\n<li>\n<p data-path-to-node=\"87,0,1,0,0\">\u7c89\u98fe\u6c7a\u7b97\uff08\u67b6\u7a7a\u58f2\u4e0a\u306e\u8a08\u4e0a\uff09\u3084\u3001\u56de\u53ce\u306e\u898b\u8fbc\u307f\u304c\u306a\u3044\u5f97\u610f\u5148\u3078\u306e\u7121\u7406\u306a\u62bc\u3057\u8fbc\u307f\u8ca9\u58f2\u304c\u884c\u308f\u308c\u3066\u3044\u308b\u5178\u578b\u7684\u306a\u30b5\u30a4\u30f3\u3067\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>\n<p data-path-to-node=\"87,1,0\"><b data-path-to-node=\"87,1,0\" data-index-in-node=\"0\">\u300c\u306e\u308c\u3093\uff08Goodwill\uff09\u300d\u306e\u904e\u5927\u8a08\u4e0a<\/b><\/p>\n<ul data-path-to-node=\"87,1,1\">\n<li>\n<p data-path-to-node=\"87,1,1,0,0\">M&amp;A\uff08\u4f01\u696d\u8cb7\u53ce\uff09\u3092\u7a4d\u6975\u7684\u306b\u884c\u3046\u4f01\u696d\u3067\u3001\u8cb7\u53ce\u5148\u306e\u5c06\u6765\u306e\u7a3c\u3050\u529b\u3092\u9ad8\u304f\u8a55\u4fa1\u3057\u3059\u304e\u305f\u5834\u5408\u306b\u300c\u306e\u308c\u3093\u300d\u304c\u81a8\u3089\u307f\u307e\u3059\u3002\u8cb7\u53ce\u5148\u306e\u696d\u7e3e\u304c\u60aa\u5316\u3059\u308b\u3068\u3001\u4e00\u6c17\u306b\u5de8\u984d\u306e\u300c\u6e1b\u640d\u640d\u5931\u300d\u304c\u767a\u751f\u3057\u3001\u7d14\u8cc7\u7523\u304c\u5439\u304d\u98db\u3076\u5371\u967a\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>\n<p data-path-to-node=\"87,2,0\"><b data-path-to-node=\"87,2,0\" data-index-in-node=\"0\">\u300c\u73fe\u9810\u91d1\u300d\u304c\u8c4a\u5bcc\u306a\u306f\u305a\u306a\u306e\u306b\u300c\u77ed\u671f\u501f\u5165\u91d1\u300d\u304c\u6025\u5897\u3057\u3066\u3044\u308b<\/b><\/p>\n<ul data-path-to-node=\"87,2,1\">\n<li>\n<p data-path-to-node=\"87,2,1,0,0\">B\/S\u4e0a\u306e\u73fe\u9810\u91d1\u306e\u4e00\u90e8\u304c\u62d8\u675f\u3055\u308c\u3066\u3044\u308b\uff08\u62c5\u4fdd\u306b\u5165\u3063\u3066\u3044\u308b\u3001\u6d77\u5916\u5b50\u4f1a\u793e\u304b\u3089\u5f15\u304d\u51fa\u305b\u306a\u3044\uff09\u306a\u3069\u3001\u5b9f\u8cea\u7684\u306b\u4f7f\u3048\u306a\u3044\u300c\u898b\u305b\u304b\u3051\u306e\u73fe\u91d1\u300d\u3067\u3042\u308b\u53ef\u80fd\u6027\u304c\u7591\u308f\u308c\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<li>\n<p data-path-to-node=\"87,3,0\"><b data-path-to-node=\"87,3,0\" data-index-in-node=\"0\">\u300c\u4eee\u6255\u91d1\u300d\u300c\u7acb\u66ff\u91d1\u300d\u300c\u5f79\u54e1\u7528\u8cb8\u4ed8\u91d1\u300d\u306e\u6563\u898b<\/b><\/p>\n<ul data-path-to-node=\"87,3,1\">\n<li>\n<p data-path-to-node=\"87,3,1,0,0\">\u8cc7\u91d1\u304c\u4e0d\u900f\u660e\u306a\u7528\u9014\u3067\u4f1a\u793e\u304b\u3089\u5916\u90e8\u30fb\u500b\u4eba\u306e\u624b\u306b\u6d41\u51fa\u3057\u3066\u3044\u308b\u30ea\u30b9\u30af\u3092\u793a\u3057\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<h3 data-path-to-node=\"88\">5-2. \u696d\u754c\u5225\u306e\u5178\u578b\u7684B\/S\u69cb\u9020\u30d1\u30bf\u30fc\u30f3<\/h3>\n<p data-path-to-node=\"89\">\u4f01\u696d\u306e\u696d\u7a2e\u306b\u3088\u3063\u3066\u300c\u76ee\u6307\u3059\u3079\u304d\u7406\u60f3\u306eB\/S\u300d\u306e\u5f62\u306f\u5168\u304f\u7570\u306a\u308a\u307e\u3059\u3002<\/p>\n<p data-path-to-node=\"0\" class=\"first-token\"><response-element class=\"no-md\" ng-version=\"0.0.0-PLACEHOLDER\"><code-block _nghost-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-523 enable-luminous-code-block ng-star-inserted\"><\/code-block><\/response-element><\/p>\n<div _ngcontent-ng-c3974374368=\"\" class=\"code-block ng-tns-c3974374368-523 ng-animate-disabled ng-trigger ng-trigger-codeBlockRevealAnimation\" jslog=\"223238;track:impression,attention;BardVeMetadataKey:W1sicl8wMTM4Y2JlOTUxNDMzMDY2IiwiY182NjM3ZTFhMTUxOTE1YTBiIixudWxsLCJyY18zNjJkNDk3ZTMxYjdiMTUyIixudWxsLG51bGwsImphIixudWxsLDEsbnVsbCxudWxsLDEsMF1d\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"formatted-code-block-internal-container ng-tns-c3974374368-523\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"animated-opacity ng-tns-c3974374368-523\">\n<pre _ngcontent-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-523\"><code _ngcontent-ng-c3974374368=\"\" role=\"text\" data-test-id=\"code-content\" class=\"code-container formatted ng-tns-c3974374368-523 no-decoration-radius\">\u3010\u4ee3\u8868\u76843\u696d\u7a2e\u306eB\/S\u69cb\u9020\u6bd4\u8f03\u3011\r\n\r\n  \uff3b\u2460 \u88fd\u9020\u696d\uff08\u30e1\u30fc\u30ab\u30fc\uff09\uff3d     \uff3b\u2461 IT\u30fb\u30bd\u30d5\u30c8\u30a6\u30a7\u30a2\uff3d      \uff3b\u2462 \u9280\u884c\u30fb\u91d1\u878d\u6a5f\u95a2\uff3d\r\n\u250c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u252c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2510    \u250c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u252c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2510    \u250c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u252c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2510\r\n\u2502 \u6d41\u52d5\u8cc7\u7523  \u2502 \u6d41\u52d5\u8ca0\u50b5  \u2502    \u2502           \u2502 \u6d41\u52d5\u8ca0\u50b5  \u2502    \u2502 \u8cb8\u51fa\u91d1    \u2502 \u9810\u91d1      \u2502\r\n\u251c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u253c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2524    \u2502 \u6d41\u52d5\u8cc7\u7523  \u251c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2524    \u2502 \u6709\u4fa1\u8a3c\u5238  \u2502 (\u8ca0\u50b5)    \u2502\r\n\u2502           \u2502 \u56fa\u5b9a\u8ca0\u50b5  \u2502    \u2502 (\u73fe\u9810\u91d1\u591a)\u2502 \u56fa\u5b9a\u8ca0\u50b5  \u2502    \u2502           \u2502           \u2502\r\n\u2502 \u56fa\u5b9a\u8cc7\u7523  \u251c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2524    \u251c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u253c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2524    \u2502           \u251c\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2524\r\n\u2502 (\u5de5\u5834\u7b49)  \u2502 \u81ea\u5df1\u8cc7\u672c  \u2502    \u2502 \u56fa\u5b9a\u8cc7\u7523  \u2502 \u81ea\u5df1\u8cc7\u672c  \u2502    \u2502           \u2502 \u81ea\u5df1\u8cc7\u672c  \u2502\r\n\u2514\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2534\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2518    \u2514\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2534\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2518    \u2514\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2534\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<ul data-path-to-node=\"91\">\n<li>\n<p data-path-to-node=\"91,0,0\"><b data-path-to-node=\"91,0,0\" data-index-in-node=\"0\">\u88fd\u9020\u696d\uff08\u8a2d\u5099\u96c6\u7d04\u578b\uff09<\/b>\uff1a\u56fa\u5b9a\u8cc7\u7523\u306e\u5272\u5408\u304c\u9ad8\u304f\u3001\u305d\u308c\u3092\u652f\u3048\u308b\u305f\u3081\u306e\u9577\u671f\u501f\u5165\u91d1\uff08\u56fa\u5b9a\u8ca0\u50b5\uff09\u3068\u81ea\u5df1\u8cc7\u672c\u306e\u30d0\u30e9\u30f3\u30b9\u304c\u8a55\u4fa1\u8ef8\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"91,1,0\"><b data-path-to-node=\"91,1,0\" data-index-in-node=\"0\">IT\u30fbWeb\u30b5\u30fc\u30d3\u30b9\uff08\u30a2\u30bb\u30c3\u30c8\u30e9\u30a4\u30c8\u578b\uff09<\/b>\uff1a\u6709\u5f62\u56fa\u5b9a\u8cc7\u7523\u304c\u307b\u3068\u3093\u3069\u5b58\u5728\u305b\u305a\u3001\u6d41\u52d5\u8cc7\u7523\uff08\u73fe\u9810\u91d1\uff09\u3068\u81ea\u5df1\u8cc7\u672c\u304c\u5927\u90e8\u5206\u3092\u5360\u3081\u308b\u3001\u975e\u5e38\u306b\u9ad8\u3044\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u3092\u793a\u3057\u307e\u3059\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"91,2,0\"><b data-path-to-node=\"91,2,0\" data-index-in-node=\"0\">\u9280\u884c\u30fb\u91d1\u878d\uff08\u9ad8\u30ec\u30d0\u30ec\u30c3\u30b8\u578b\uff09<\/b>\uff1a\u9867\u5ba2\u304b\u3089\u306e\u300c\u9810\u91d1\u300d\u304c\u8ca0\u50b5\u306b\u8a08\u4e0a\u3055\u308c\u308b\u305f\u3081\u3001\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u306f\u6570%\u301c10%\u7a0b\u5ea6\u3068\u4f4e\u304f\u306a\u308b\u306e\u304c\u69cb\u9020\u4e0a\u306e\u6b63\u5e38\u5024\u3067\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<h2 data-path-to-node=\"93\">6. \u5b9f\u8df5\u30b7\u30df\u30e5\u30ec\u30fc\u30bf\u30fc\uff1a\u81ea\u5df1\u8cc7\u672c\u306e\u84c4\u7a4d\u3068\u8907\u5229\u52b9\u679c<\/h2>\n<p data-path-to-node=\"94\">\u4f01\u696d\u8ca1\u52d9\u3067\u3082\u500b\u4eba\u306e\u8cc7\u7523\u5f62\u6210\u3067\u3082\u3001B\/S\u306e\u300c\u81ea\u5df1\u8cc7\u672c\uff08\u7d14\u8cc7\u7523\uff09\u300d\u3092\u3044\u304b\u306b\u8907\u5229\u3067\u62e1\u5927\u3055\u305b\u3066\u3044\u304f\u304b\u304c\u6210\u9577\u306e\u9375\u3068\u306a\u308a\u307e\u3059\u3002\u4ee5\u4e0b\u306e\u30c4\u30fc\u30eb\u3067\u3001\u521d\u671f\u8cc7\u672c\u3001\u6bce\u5e74\u306e\u5229\u76ca\u7559\u4fdd\uff08\u8ffd\u52a0\u51fa\u8cc7\uff09\u3001ROE\uff08\u904b\u7528\u5229\u56de\u308a\uff09\u306e\u30d1\u30e9\u30e1\u30fc\u30bf\u3092\u64cd\u4f5c\u3057\u3001\u4e2d\u9577\u671f\u7684\u306a\u7d14\u8cc7\u7523\u306e\u5897\u6b96\u30d7\u30ed\u30bb\u30b9\u3092\u78ba\u8a8d\u3057\u3066\u307f\u307e\u3057\u3087\u3046\u3002<\/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=\"98\">7. \u91d1\u878d\u30fb\u6295\u8cc7\u77e5\u8b58\uff08\u30d5\u30a1\u30a4\u30ca\u30f3\u30b7\u30e3\u30eb\u30fb\u30ea\u30c6\u30e9\u30b7\u30fc\uff09\u306e\u771f\u306e\u91cd\u8981\u6027<\/h2>\n<p data-path-to-node=\"99\">\u4f01\u696d\u8ca1\u52d9\u306eB\/S\u3092\u8aad\u307f\u89e3\u304f\u80fd\u529b\u306f\u3001\u5358\u306a\u308b\u4f1a\u8a08\u62c5\u5f53\u8005\u3084\u30a2\u30ca\u30ea\u30b9\u30c8\u306e\u305f\u3081\u306e\u30b9\u30ad\u30eb\u306b\u3068\u3069\u307e\u308a\u307e\u305b\u3093\u3002\u3042\u3089\u3086\u308b\u30d3\u30b8\u30cd\u30b9\u30d1\u30fc\u30bd\u30f3\u3001\u6295\u8cc7\u5bb6\u3001\u305d\u3057\u3066\u500b\u4eba\u306b\u3068\u3063\u3066\u4eba\u751f\u306e\u9078\u629e\u80a2\u3092\u5e83\u3052\u308b\u300c\u6700\u5f37\u306e\u9632\u5fa1\uff06\u653b\u6483\u30c4\u30fc\u30eb\u300d\u3067\u3059\u3002<\/p>\n<h3 data-path-to-node=\"100\">7-1. \u500b\u4eba\u306e\u4eba\u751f\u3092\u300c\u5bb6\u8a08B\/S\u300d\u3068\u3057\u3066\u6349\u3048\u76f4\u3059<\/h3>\n<p data-path-to-node=\"101\">\u4f01\u696d\u306e\u8ca1\u52d9\u5206\u6790\u306e\u8003\u3048\u65b9\u306f\u3001\u305d\u306e\u307e\u307e\u500b\u4eba\u306e\u300c\u5bb6\u8a08\u7ba1\u7406\u30fb\u751f\u6daf\u8a2d\u8a08\u300d\u306b\u5fdc\u7528\u3067\u304d\u307e\u3059\u3002<\/p>\n<p data-path-to-node=\"0\" class=\"first-token\"><response-element class=\"no-md\" ng-version=\"0.0.0-PLACEHOLDER\"><code-block _nghost-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-524 enable-luminous-code-block ng-star-inserted\"><\/code-block><\/response-element><\/p>\n<div _ngcontent-ng-c3974374368=\"\" class=\"code-block ng-tns-c3974374368-524 ng-animate-disabled ng-trigger ng-trigger-codeBlockRevealAnimation\" jslog=\"223238;track:impression,attention;BardVeMetadataKey:W1sicl8wMTM4Y2JlOTUxNDMzMDY2IiwiY182NjM3ZTFhMTUxOTE1YTBiIixudWxsLCJyY18zNjJkNDk3ZTMxYjdiMTUyIixudWxsLG51bGwsImphIixudWxsLDEsbnVsbCxudWxsLDEsMF1d\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"formatted-code-block-internal-container ng-tns-c3974374368-524\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"animated-opacity ng-tns-c3974374368-524\">\n<pre _ngcontent-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-524\"><code _ngcontent-ng-c3974374368=\"\" role=\"text\" data-test-id=\"code-content\" class=\"code-container formatted ng-tns-c3974374368-524 no-decoration-radius\">\u3010\u500b\u4eba\u30fb\u5bb6\u8a08\u306e\u8cb8\u501f\u5bfe\u7167\u8868\uff08Personal B\/S\uff09\u3011\r\n\r\n\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\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\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2510\r\n\u2502  \u3010\u6d41\u52d5\u8cc7\u7523\u3011                         \u2502  \u3010\u6d41\u52d5\u8ca0\u50b5\u3011                         \u2502\r\n\u2502  \u30fb\u666e\u901a\u9810\u91d1\uff08\u751f\u6d3b\u9632\u885b\u8cc7\u91d1\uff09           \u2502  \u30fb\u30af\u30ec\u30b8\u30c3\u30c8\u30ab\u30fc\u30c9\u672a\u6255\u91d1              \u2502\r\n\u2502  \u30fb\u682a\u5f0f\u30fb\u6295\u8cc7\u4fe1\u8a17\uff08\u3044\u3064\u3067\u3082\u63db\u91d1\u53ef\u80fd\uff09 \u2502  \u30fb\u5404\u7a2e\u77ed\u671f\u30ed\u30fc\u30f3\uff08\u30ea\u30dc\u6255\u3044\u30fb\u30ab\u30fc\u30c9\uff09 \u2502\r\n\u2502                                       \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\u2524\r\n\u2502  \u3010\u56fa\u5b9a\u8cc7\u7523\u3011                         \u2502  \u3010\u56fa\u5b9a\u8ca0\u50b5\u3011                         \u2502\r\n\u2502  \u30fb\u30de\u30a4\u30db\u30fc\u30e0\uff08\u30de\u30a4\u30ab\u30fc\uff09\u306e\u6642\u4fa1       \u2502  \u30fb\u4f4f\u5b85\u30ed\u30fc\u30f3\u6b8b\u9ad8                     \u2502\r\n\u2502  \u30fb\u4eba\u8eab\u8cc7\u672c\uff08\u5c06\u6765\u7a3c\u304e\u51fa\u3059\u7d66\u4e0e\u306e\u7dcf\u984d\uff09 \u2502  \u30fb\u81ea\u52d5\u8eca\u30ed\u30fc\u30f3\u6b8b\u9ad8                   \u2502\r\n\u2502                                       \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\u2524\r\n\u2502                                       \u2502  \u3010\u500b\u4eba\u306e\u7d14\u8cc7\u7523\uff08\u771f\u306e\u91d1\u6301\u3061\u5ea6\uff09\u3011    \u2502\r\n\u2502                                       \u2502  \u30fb\u8cc7\u7523\u5408\u8a08 \u2212 \u8ca0\u50b5\u5408\u8a08                \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\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\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<ul data-path-to-node=\"103\">\n<li>\n<p data-path-to-node=\"103,0,0\"><b data-path-to-node=\"103,0,0\" data-index-in-node=\"0\">\u300c\u898b\u305f\u76ee\u306e\u8cc7\u7523\uff08\u5de6\u5074\uff09\u300d\u306b\u9a19\u3055\u308c\u306a\u3044<\/b>\uff1a\u9ad8\u7d1a\u8eca\u3084\u30de\u30a4\u30db\u30fc\u30e0\u3092\u8cb7\u3063\u3066\u3082\u3001\u305d\u308c\u4ee5\u4e0a\u306b\u30ed\u30fc\u30f3\uff08\u8ca0\u50b5\uff1a\u53f3\u5074\uff09\u304c\u5897\u3048\u3066\u3044\u308c\u3070\u3001\u500b\u4eba\u306e\u7d14\u8cc7\u7523\uff08\u771f\u306e\u8c4a\u304b\u3055\uff09\u306f\u5897\u3048\u3066\u3044\u307e\u305b\u3093\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"103,1,0\"><b data-path-to-node=\"103,1,0\" data-index-in-node=\"0\">\u5bb6\u8a08\u306e\u6d41\u52d5\u6bd4\u7387\u3092\u9ad8\u3081\u308b<\/b>\uff1a\u53ce\u5165\u304c\u9014\u7d76\u3048\u3066\u3082\u534a\u5e74\u301c1\u5e74\u66ae\u3089\u305b\u308b\u300c\u6d41\u52d5\u6027\u306e\u9ad8\u3044\u751f\u6d3b\u9632\u885b\u8cc7\u91d1\uff08\u5373\u5ea7\u306b\u4f7f\u3048\u308b\u73fe\u9810\u91d1\uff09\u300d\u3092\u78ba\u4fdd\u3059\u308b\u3053\u3068\u3067\u3001\u4eba\u751f\u306e\u7a81\u767a\u7684\u306a\u30b7\u30e7\u30c3\u30af\uff08\u75c5\u6c17\u30fb\u30ea\u30b9\u30c8\u30e9\uff09\u306b\u5f37\u3044\u4f53\u8cea\u3092\u4f5c\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n<h3 data-path-to-node=\"104\">7-2. \u30ad\u30e3\u30ea\u30a2\u9078\u629e\u30fb\u8ee2\u8077\u306b\u304a\u3051\u308b\u30ea\u30b9\u30af\u30d8\u30c3\u30b8<\/h3>\n<p data-path-to-node=\"105\">\u5c31\u8077\u3084\u8ee2\u8077\u306e\u969b\u3001\u591a\u304f\u306e\u4eba\u306f\u300c\u63d0\u793a\u5e74\u53ce\u300d\u3084\u300c\u4f01\u696d\u306e\u77e5\u540d\u5ea6\uff08P\/L\u7684\u306a\u8981\u7d20\uff09\u300d\u3070\u304b\u308a\u306b\u76ee\u3092\u596a\u308f\u308c\u307e\u3059\u3002<\/p>\n<p data-path-to-node=\"106\">\u3057\u304b\u3057\u3001B\/S\u306e\u77e5\u8b58\u304c\u3042\u308c\u3070\u3001\u300c\u3053\u306e\u4f1a\u793e\u306f\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u304c\u9ad8\u304f\u30011\u301c2\u5e74\u672c\u696d\u304c\u8d64\u5b57\u3067\u3082\u3073\u304f\u3068\u3082\u3057\u306a\u3044\u4f53\u529b\u304c\u3042\u308b\u304b\u300d\u300c\u56fa\u5b9a\u9577\u671f\u9069\u5408\u7387\u304c100%\u3092\u8d85\u3048\u3066\u304a\u308a\u3001\u8cc7\u91d1\u7e70\u308a\u304c\u903c\u8feb\u3057\u3066\u3044\u306a\u3044\u304b\u300d\u3092\u4e8b\u524d\u306b\u5165\u624b\u53ef\u80fd\u306a\u6709\u4fa1\u8a3c\u5238\u5831\u544a\u66f8\u7b49\u3067\u30c1\u30a7\u30c3\u30af\u3067\u304d\u307e\u3059\u3002\u7d66\u6599\u306e\u9045\u914d\u3084\u7a81\u7136\u306e\u5012\u7523\u3001\u30ea\u30b9\u30c8\u30e9\u306b\u5dfb\u304d\u8fbc\u307e\u308c\u308b\u30ea\u30b9\u30af\u3092\u5927\u5e45\u306b\u4f4e\u6e1b\u3067\u304d\u307e\u3059\u3002<\/p>\n<h3 data-path-to-node=\"107\">7-3. \u6295\u8cc7\u306b\u304a\u3051\u308b\u611f\u60c5\u306e\u6392\u9664\u3068\u8ad6\u7406\u7684\u5224\u65ad<\/h3>\n<p data-path-to-node=\"108\">\u682a\u5f0f\u6295\u8cc7\u3084\u8cc7\u7523\u904b\u7528\u3092\u884c\u3046\u969b\u3001\u91d1\u878d\u77e5\u8b58\u304c\u306a\u3044\u3068\u300cSNS\u3067\u8a71\u984c\u306b\u306a\u3063\u3066\u3044\u308b\u304b\u3089\u300d\u300c\u682a\u4fa1\u304c\u4e0a\u304c\u3063\u3066\u3044\u308b\u304b\u3089\u300d\u3068\u3044\u3046\u60c5\u7dd2\u7684\u306a\u7406\u7531\u3067\u58f2\u8cb7\u3057\u3001\u9ad8\u5024\u63b4\u307f\u3084\u72fc\u72fd\u58f2\u308a\u3092\u5f15\u304d\u8d77\u3053\u3057\u307e\u3059\u3002<\/p>\n<p data-path-to-node=\"109\">B\/S\u306e\u6307\u6a19\uff08PBR\u3001ROE\u3001\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u3001\u5f53\u5ea7\u6bd4\u7387\u306a\u3069\uff09\u3092\u6b63\u3057\u304f\u7406\u89e3\u3057\u3066\u3044\u308c\u3070\uff1a<\/p>\n<ol start=\"1\" data-path-to-node=\"110\">\n<li>\n<p data-path-to-node=\"110,0,0\"><b data-path-to-node=\"110,0,0\" data-index-in-node=\"0\">\u300c\u5272\u5b89\u6027\u300d\u306e\u5224\u65ad<\/b>\uff1a\u4f01\u696d\u306e\u89e3\u6563\u4fa1\u5024\uff08\u7d14\u8cc7\u7523\uff09\u306b\u5bfe\u3057\u3066\u682a\u4fa1\u304c\u5272\u5b89\u304b\uff08PBR1\u500d\u5272\u308c\u306a\u3069\uff09\u3092\u5ba2\u89b3\u7684\u306b\u8a55\u4fa1\u3067\u304d\u307e\u3059\u3002<\/p>\n<\/li>\n<li>\n<p data-path-to-node=\"110,1,0\"><b data-path-to-node=\"110,1,0\" data-index-in-node=\"0\">\u300c\u5b89\u5168\u5ea6\u300d\u306e\u78ba\u8a8d<\/b>\uff1a\u682a\u4fa1\u304c\u66b4\u843d\u3057\u3066\u3082\u3001\u8c4a\u5bcc\u306a\u73fe\u9810\u91d1\u3092\u62b1\u3048\u3066\u3044\u308b\u5b89\u5168\u306a\u4f01\u696d\u3092\u9078\u3073\u629c\u304f\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ol>\n<h2 data-path-to-node=\"112\">8. \u307e\u3068\u3081\u3068\u6b21\u306e\u30b9\u30c6\u30c3\u30d7<\/h2>\n<p data-path-to-node=\"113\">\u8ca1\u52d9\u6307\u6a19\u306f\u5358\u306a\u308b\u7b97\u6570\u306e\u8a08\u7b97\u3067\u306f\u306a\u304f\u3001\u300c\u4f01\u696d\u306e\u884c\u52d5\u30fb\u610f\u601d\u6c7a\u5b9a\u306e\u8ecc\u8de1\u300d\u3092\u6570\u5b57\u3068\u3044\u3046\u8a00\u8a9e\u3067\u7269\u8a9e\u3063\u3066\u3044\u308b\u3082\u306e\u3067\u3059\u3002<\/p>\n<h3 data-path-to-node=\"114\">\u8ca1\u52d9\u5206\u6790\u306e\u30b4\u30fc\u30eb\u30c7\u30f3\u30eb\u30fc\u30eb<\/h3>\n<p data-path-to-node=\"0\" class=\"first-token\"><response-element class=\"no-md\" ng-version=\"0.0.0-PLACEHOLDER\"><code-block _nghost-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-525 enable-luminous-code-block ng-star-inserted\"><\/code-block><\/response-element><\/p>\n<div _ngcontent-ng-c3974374368=\"\" class=\"code-block ng-tns-c3974374368-525 ng-animate-disabled ng-trigger ng-trigger-codeBlockRevealAnimation\" jslog=\"223238;track:impression,attention;BardVeMetadataKey:W1sicl8wMTM4Y2JlOTUxNDMzMDY2IiwiY182NjM3ZTFhMTUxOTE1YTBiIixudWxsLCJyY18zNjJkNDk3ZTMxYjdiMTUyIixudWxsLG51bGwsImphIixudWxsLDEsbnVsbCxudWxsLDEsMF1d\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"formatted-code-block-internal-container ng-tns-c3974374368-525\">\n<div _ngcontent-ng-c3974374368=\"\" class=\"animated-opacity ng-tns-c3974374368-525\">\n<pre _ngcontent-ng-c3974374368=\"\" class=\"ng-tns-c3974374368-525\"><code _ngcontent-ng-c3974374368=\"\" role=\"text\" data-test-id=\"code-content\" class=\"code-container formatted ng-tns-c3974374368-525 no-decoration-radius\">\u3010\u5206\u6790\u306e\u30b9\u30c6\u30c3\u30d7\u3011\r\n  \u30b9\u30c6\u30c3\u30d7 1\uff1a\u3010\u6d41\u52d5\u6027\u3011\u6d41\u52d5\u6bd4\u7387\u30fb\u5f53\u5ea7\u6bd4\u7387\u30fbCCC\u3067\u300c\u660e\u65e5\u5012\u7523\u3057\u306a\u3044\u304b\u300d\u3092\u30c1\u30a7\u30c3\u30af\r\n  \u30b9\u30c6\u30c3\u30d7 2\uff1a\u3010\u5065\u5168\u6027\u3011\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u30fb\u56fa\u5b9a\u9577\u671f\u9069\u5408\u7387\u3067\u300c10\u5e74\u5f8c\u3082\u751f\u304d\u6b8b\u308c\u308b\u304b\u300d\u3092\u30c1\u30a7\u30c3\u30af\r\n  \u30b9\u30c6\u30c3\u30d7 3\uff1a\u3010\u52b9\u7387\u6027\u3011\u7dcf\u8cc7\u7523\u56de\u8ee2\u7387\u30fbROE\u3067\u300c\u8cc7\u672c\u3092\u4f7f\u3063\u3066\u52b9\u7387\u3088\u304f\u7a3c\u3044\u3067\u3044\u308b\u304b\u300d\u3092\u30c1\u30a7\u30c3\u30af\r\n<\/code><\/pre>\n<\/div>\n<\/div>\n<\/div>\n<p>&nbsp;<\/p>\n<p data-path-to-node=\"116\">\u6570\u5024\u306e\u826f\u3057\u60aa\u3057\u3092\u5224\u65ad\u3059\u308b\u969b\u306f\u3001\u300c\u5358\u4e00\u6307\u6a19\u3060\u3051\u3067\u5224\u65ad\u3057\u306a\u3044\u300d\u300c\u540c\u696d\u4ed6\u793e\u3068\u6bd4\u8f03\u3059\u308b\u300d\u300c\u6642\u7cfb\u5217\uff08\u904e\u53bb3\u301c5\u5e74\uff09\u306e\u5909\u5316\u3092\u8ffd\u3046\u300d\u3068\u3044\u30463\u539f\u5247\u3092\u5fb9\u5e95\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/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 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