{"id":7338,"date":"2025-05-14T14:13:17","date_gmt":"2025-05-14T05:13:17","guid":{"rendered":"https:\/\/paradigm-shift.co.jp\/media\/?p=7338"},"modified":"2025-05-14T14:13:17","modified_gmt":"2025-05-14T05:13:17","slug":"multiple","status":"publish","type":"post","link":"https:\/\/paradigm-shift.co.jp\/media\/multiple\/","title":{"rendered":"\u30de\u30eb\u30c1\u30d7\u30eb\u3068\u306f\uff1f\u610f\u5473\u3084\u8a08\u7b97\u65b9\u6cd5\u30fb\u6ce8\u610f\u70b9\u3092\u5fb9\u5e95\u89e3\u8aac"},"content":{"rendered":"

\u30de\u30eb\u30c1\u30d7\u30eb\u3068\u306f\u3001\u4f01\u696d\u306e\u4fa1\u5024\u3092\u6e2c\u308b\u4e0a\u3067\u6b20\u304b\u305b\u306a\u3044\u6307\u6a19\u3067\u3059\u304c\u3001 \u540d\u524d\u306f\u805e\u3044\u305f\u3053\u3068\u304c\u3042\u308b\u3051\u3069\u3001\u5b9f\u969b\u306b\u3069\u3046\u4f7f\u3046\u306e\u304b\u3088\u304f\u308f\u304b\u3089\u306a\u3044\u3068\u60a9\u3080\u65b9\u306f\u5c11\u306a\u304f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n

\u672c\u8a18\u4e8b\u3067\u306f\u3001 \u30de\u30eb\u30c1\u30d7\u30eb\u306e\u610f\u5473\u304b\u3089\u8a08\u7b97\u65b9\u6cd5\u3001 \u6d3b\u7528\u6642\u306e\u6ce8\u610f\u70b9\u307e\u3067\u3092\u5fb9\u5e95\u7684\u306b\u89e3\u8aac<\/strong>\u3057\u307e\u3059\u3002 EBITDA\u30de\u30eb\u30c1\u30d7\u30eb\u3001PER\u3001PBR\u306a\u3069\u3001 \u4ee3\u8868\u7684\u306a\u6307\u6a19\u3092\u308f\u304b\u308a\u3084\u3059\u304f\u307e\u3068\u3081\u307e\u3057\u305f\u3002<\/p>\n

\u3055\u3089\u306b\u3001\u4f01\u696d\u4fa1\u5024\u3001\u682a\u5f0f\u4fa1\u5024\u3001\u6295\u8cc7\u4fa1\u5024\u3068\u3044\u3063\u305f\u3001 \u30de\u30eb\u30c1\u30d7\u30eb\u6cd5\u3067\u8a55\u4fa1\u3067\u304d\u308b\u4fa1\u5024\u306b\u3064\u3044\u3066\u3082\u6398\u308a\u4e0b\u3052\u307e\u3059\u3002 \u985e\u4f3c\u4f01\u696d\u306e\u9078\u5b9a\u3084\u5e02\u5834\u74b0\u5883\u306e\u5f71\u97ff\u306a\u3069\u3001 \u6d3b\u7528\u6642\u306e\u6ce8\u610f\u70b9\u3082\u7db2\u7f85\u7684\u306b\u89e3\u8aac\u3002 Q&A\u5f62\u5f0f\u3067\u3088\u304f\u3042\u308b\u7591\u554f\u306b\u3082\u304a\u7b54\u3048\u3057\u307e\u3059\u306e\u3067\u3001 \u30de\u30eb\u30c1\u30d7\u30eb\u306b\u95a2\u3059\u308b\u7406\u89e3\u3092\u6df1\u3081\u3001 \u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\u306b\u5f79\u7acb\u3066\u3066\u3044\u304d\u307e\u3057\u3087\u3046\u3002<\/p>\n

\u30de\u30eb\u30c1\u30d7\u30eb\u3068\u306f<\/h2>\n\"\"\n

\u30de\u30eb\u30c1\u30d7\u30eb\u3068\u306f\u3001\u4f01\u696d\u306e\u4fa1\u5024\u3092\u8a55\u4fa1\u3059\u308b\u969b\u306b\u7528\u3044\u3089\u308c\u308b\u6307\u6a19\u306e\u4e00\u3064<\/strong>\u3067\u3059\u3002\u985e\u4f3c\u3059\u308b\u4e0a\u5834\u4f01\u696d\u306e\u682a\u4fa1\u3084\u4f01\u696d\u4fa1\u5024\u3068\u3001\u4f01\u696d\u306e\u8ca1\u52d9\u6307\u6a19\uff08\u58f2\u4e0a\u9ad8\u3001\u5229\u76ca\u306a\u3069\uff09\u3092\u6bd4\u8f03\u3057\u3001\u8a55\u4fa1\u5bfe\u8c61\u4f01\u696d\u306e\u4fa1\u5024\u3092\u63a8\u6e2c\u3057\u307e\u3059\u3002<\/p>\n

M&A\u306e\u521d\u671f\u6bb5\u968e\u3067\u5ba2\u89b3\u7684\u306a\u6570\u5024\u3092\u6bd4\u8f03\u7684\u7c21\u5358\u306a\u8a08\u7b97\u5f0f\u3067\u7b97\u51fa\u3067\u304d\u308b\u306e\u3067\u3001\u5e83\u304f\u6d3b\u7528\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\u306b\u304a\u3051\u308b\u30de\u30eb\u30c1\u30d7\u30eb\u306e\u5f79\u5272<\/h3>\n

\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\u306b\u306f\u3001\u5927\u304d\u304f\u5206\u3051\u3066\u4ee5\u4e0b\u306e3\u3064\u306e\u30a2\u30d7\u30ed\u30fc\u30c1\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n

    \n
  • \u30de\u30fc\u30b1\u30c3\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\uff1a\u5e02\u5834\u3067\u53d6\u5f15\u3055\u308c\u3066\u3044\u308b\u985e\u4f3c\u4f01\u696d\u306e\u30c7\u30fc\u30bf\u306b\u57fa\u3065\u3044\u3066\u8a55\u4fa1\u3059\u308b\u65b9\u6cd5<\/li>\n
  • \u30b3\u30b9\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\uff1a\u4f01\u696d\u306e\u7d14\u8cc7\u7523\u984d\u3092\u57fa\u306b\u8a55\u4fa1\u3059\u308b\u65b9\u6cd5<\/li>\n
  • \u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\uff1a\u5c06\u6765\u306e\u53ce\u76ca\u4e88\u6e2c\u306b\u57fa\u3065\u3044\u3066\u8a55\u4fa1\u3059\u308b\u65b9\u6cd5<\/li>\n<\/ul>\n

    \u30de\u30eb\u30c1\u30d7\u30eb\u6cd5\u306f\u3001\u30de\u30fc\u30b1\u30c3\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\u306b\u5206\u985e\u3055\u308c\u3001\u7279\u306bM&A\u306e\u521d\u671f\u6bb5\u968e\u306b\u304a\u3044\u3066\u3001\u7c21\u6613\u7684\u306b\u4f01\u696d\u4fa1\u5024\u3092\u628a\u63e1<\/strong>\u3059\u308b\u76ee\u7684\u3067\u5229\u7528\u3055\u308c\u307e\u3059\u3002\u5ba2\u89b3\u7684\u306a\u30c7\u30fc\u30bf\u306b\u57fa\u3065\u3044\u3066\u3044\u308b\u306e\u3067\u3001\u8aac\u5f97\u529b\u304c\u3042\u308a\u3001\u4ed6\u306e\u8a55\u4fa1\u65b9\u6cd5\u3068\u7d44\u307f\u5408\u308f\u305b\u3066\u4f7f\u7528\u3055\u308c\u308b\u5834\u5408\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n

    \u30de\u30eb\u30c1\u30d7\u30eb\u306e\u7a2e\u985e\uff1a\u4ee3\u8868\u7684\u306a\u6307\u6a19\u3092\u7d39\u4ecb<\/h3>\n

    \u30de\u30eb\u30c1\u30d7\u30eb\u306b\u306f\u3055\u307e\u3056\u307e\u306a\u7a2e\u985e\u304c\u3042\u308a\u307e\u3059\u304c\u3001\u4ee3\u8868\u7684\u306a\u3082\u306e\u3068\u3057\u3066\u4ee5\u4e0b\u306e\u6307\u6a19\u304c\u6319\u3052\u3089\u308c\u307e\u3059\u3002<\/p>\n

    \n\n\n\n\n\n\n
    \u6307\u6a19<\/th>\n\u6982\u8981<\/th>\n\u7279\u5fb4<\/th>\n<\/tr>\n
    EV\/EBITDA<\/td>\n\u4f01\u696d\u4fa1\u5024\uff08EV\uff09\u3092EBITDA\uff08\u7a0e\u5f15\u524d\u5229\u76ca\u306b\u652f\u6255\u5229\u606f\u3001\u6e1b\u4fa1\u511f\u5374\u8cbb\u3092\u52a0\u3048\u3066\u7b97\u51fa\uff09\u3067\u5272\u3063\u305f\u3082\u306e<\/td>\n\u672c\u696d\u306e\u53ce\u76ca\u6027\u306b\u7740\u76ee\u3057\u3001\u56fd\u969b\u6bd4\u8f03\u306b\u3082\u9069\u3057\u3066\u3044\u308b\u3002<\/td>\n<\/tr>\n
    PER\uff08\u682a\u4fa1\u53ce\u76ca\u7387\uff09<\/td>\n\u682a\u4fa1\u30921\u682a\u3042\u305f\u308a\u5f53\u671f\u7d14\u5229\u76ca\u3067\u5272\u3063\u305f\u3082\u306e<\/td>\n\u682a\u5f0f\u6295\u8cc7\u306e\u6307\u6a19\u3068\u3057\u3066\u4e00\u822c\u7684\u3002\u4f01\u696d\u306e\u53ce\u76ca\u529b\u306b\u5bfe\u3059\u308b\u5e02\u5834\u306e\u671f\u5f85\u5ea6\u3092\u793a\u3059\u3002<\/td>\n<\/tr>\n
    PBR\uff08\u682a\u4fa1\u7d14\u8cc7\u7523\u500d\u7387\uff09<\/td>\n\u682a\u4fa1\u30921\u682a\u3042\u305f\u308a\u7d14\u8cc7\u7523\u3067\u5272\u3063\u305f\u3082\u306e<\/td>\n\u4f01\u696d\u306e\u8cc7\u7523\u4fa1\u5024\u306b\u5bfe\u3059\u308b\u5e02\u5834\u306e\u8a55\u4fa1\u3092\u793a\u3059\u3002<\/td>\n<\/tr>\n
    PSR\uff08\u682a\u4fa1\u58f2\u4e0a\u9ad8\u500d\u7387\uff09<\/td>\n\u682a\u4fa1\u30921\u682a\u3042\u305f\u308a\u58f2\u4e0a\u9ad8\u3067\u5272\u3063\u305f\u3082\u306e<\/td>\n\u58f2\u4e0a\u9ad8\u306b\u7740\u76ee\u3057\u3066\u304a\u308a\u3001\u8d64\u5b57\u4f01\u696d\u3084\u6210\u9577\u4f01\u696d\u306a\u3069\u306e\u8a55\u4fa1\u306b\u7528\u3044\u3089\u308c\u308b\u3002<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n

    EBITDA\u30de\u30eb\u30c1\u30d7\u30eb\u3068\u306f<\/h3>\n

    EBITDA\u30de\u30eb\u30c1\u30d7\u30eb\u306f\u3001Enterprise Value\uff08\u4f01\u696d\u4fa1\u5024\uff09\u3092Earnings Before Interest, Taxes, Depreciation and Amortization\uff08\u7a0e\u5f15\u524d\u5229\u76ca\u306b\u652f\u6255\u5229\u606f\u3001\u6e1b\u4fa1\u511f\u5374\u8cbb\u3092\u52a0\u3048\u3066\u7b97\u51fa\uff09\u3067\u5272\u3063\u305f\u3082\u306e<\/strong>\u3067\u3059\u3002\u6570\u5f0f\u3067\u8868\u3059\u3068\u4ee5\u4e0b\u306e\u3068\u304a\u308a\u3067\u3059\u3002<\/p>\n

      \n
    • EBITDA\u30de\u30eb\u30c1\u30d7\u30eb\uff1d\u4f01\u696d\u4fa1\u5024\uff08EV\uff09\u00f7EBITDA<\/li>\n<\/ul>\n

      EBITDA\u306f\u3001\u4f01\u696d\u306e\u55b6\u696d\u6d3b\u52d5\u306b\u3088\u308b\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306b\u8fd1\u3044\u6307\u6a19\u3067\u3042\u308a\u3001EBITDA\u30de\u30eb\u30c1\u30d7\u30eb\u306f\u3001\u4f01\u696d\u4fa1\u5024\u304cEBITDA\u306e\u4f55\u500d\u3067\u3042\u308b\u304b\u3092\u793a\u3057\u307e\u3059\u3002\u4e00\u822c\u7684\u306b\u3001EBITDA\u30de\u30eb\u30c1\u30d7\u30eb\u304c\u9ad8\u3044\u307b\u3069\u3001\u4f01\u696d\u4fa1\u5024\u304c\u9ad8\u3044\u3068\u5224\u65ad\u3055\u308c\u307e\u3059\u3002<\/p>\n

      EBITDA\u30de\u30eb\u30c1\u30d7\u30eb\u306f\u3001\u4ee5\u4e0b\u306e\u70b9\u3067\u512a\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n

        \n
      • \u56fd\u969b\u6bd4\u8f03\u304c\u5bb9\u6613\uff1a\u7a0e\u7387\u3084\u4f1a\u8a08\u57fa\u6e96\u306e\u9055\u3044\u306b\u3088\u308b\u5f71\u97ff\u3092\u53d7\u3051\u306b\u304f\u3044\u306e\u3067\u3001\u6d77\u5916\u4f01\u696d\u3068\u306e\u6bd4\u8f03\u306b\u9069\u3057\u3066\u3044\u307e\u3059\u3002
        \n\u4f01\u696d\u306e\u53ce\u76ca\u529b\u3092\u8a55\u4fa1\uff1a\u6e1b\u4fa1\u511f\u5374\u8cbb\u3092\u9664\u3044\u3066\u3044\u308b\u306e\u3067\u3001\u8a2d\u5099\u6295\u8cc7\u306e\u898f\u6a21\u304c\u7570\u306a\u308b\u4f01\u696d\u9593\u306e\u6bd4\u8f03\u306b\u9069\u3057\u3066\u3044\u307e\u3059\u3002<\/li>\n<\/ul>\n

        EBITDA\u30de\u30eb\u30c1\u30d7\u30eb\u306f\u3001M&A\u306e\u5834\u9762\u3067\u4f01\u696d\u4fa1\u5024\u3092\u8a55\u4fa1\u3059\u308b\u969b\u306b\u3088\u304f\u7528\u3044\u3089\u308c\u308b\u6307\u6a19\u306e\u4e00\u3064\u3067\u3059\u3002<\/p>\n

        \u30de\u30eb\u30c1\u30d7\u30eb\u6cd5\u3067\u8a55\u4fa1\u3067\u304d\u308b\u4fa1\u5024<\/h2>\n\"\"\n

        \u672c\u7ae0\u3067\u306f\u3001\u30de\u30eb\u30c1\u30d7\u30eb\u6cd5\u3067\u8a55\u4fa1\u3067\u304d\u308b\u4ee3\u8868\u7684\u306a3\u3064\u306e\u4fa1\u5024\u3001\u4f01\u696d\u4fa1\u5024\u3001\u682a\u5f0f\u4fa1\u5024\u3001\u6295\u8cc7\u4fa1\u5024\u306b\u3064\u3044\u3066\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n

        \u4f01\u696d\u4fa1\u5024<\/h3>\n

        \u4f01\u696d\u4fa1\u5024\uff08Enterprise Value: EV\uff09\u3068\u306f\u3001\u4f01\u696d\u5168\u4f53\u306e\u4fa1\u5024\u3092\u793a\u3059\u6307\u6a19<\/strong>\u3067\u3059\u3002\u682a\u4e3b\u3060\u3051\u3067\u306a\u304f\u3001\u50b5\u6a29\u8005\u3092\u542b\u3080\u3059\u3079\u3066\u306e\u8cc7\u91d1\u63d0\u4f9b\u8005\u304b\u3089\u898b\u305f\u4f01\u696d\u306e\u4fa1\u5024\u3092\u8868\u3057\u307e\u3059\u3002<\/p>\n

        \u30de\u30eb\u30c1\u30d7\u30eb\u6cd5\u3067\u306f\u3001\u985e\u4f3c\u4f01\u696d\u306eEV\u3092\u58f2\u4e0a\u9ad8\u3084EBITDA\u306a\u3069\u306e\u8ca1\u52d9\u6307\u6a19\u3067\u5272\u3063\u305f\u5024\u3092\u7b97\u51fa\u3057\u3001\u8a55\u4fa1\u5bfe\u8c61\u4f01\u696d\u306e\u8ca1\u52d9\u6307\u6a19\u306b\u4e57\u3058\u3066\u4f01\u696d\u4fa1\u5024\u3092\u63a8\u5b9a\u3057\u307e\u3059\u3002<\/p>\n

        \u4f8b\u3048\u3070\u3001EV\/EBITDA\u30de\u30eb\u30c1\u30d7\u30eb\u3092\u7528\u3044\u308b\u5834\u5408\u3001\u4ee5\u4e0b\u306e\u8a08\u7b97\u5f0f\u3067\u4f01\u696d\u4fa1\u5024\u3092\u7b97\u51fa\u3057\u307e\u3059\u3002<\/p>\n

          \n
        • \u4f01\u696d\u4fa1\u5024\uff08EV\uff09\uff1d\u985e\u4f3c\u4f01\u696d\u306eEV\/EBITDA\u00d7\u8a55\u4fa1\u5bfe\u8c61\u4f01\u696d\u306eEBITDA<\/li>\n<\/ul>\n

          \u4f01\u696d\u4fa1\u5024\u306f\u3001M&A\u306b\u304a\u3051\u308b\u8cb7\u53ce\u4fa1\u683c\u306e\u6c7a\u5b9a\u3084\u3001\u4f01\u696d\u306e\u4e8b\u696d\u898f\u6a21\u3092\u6e2c\u308b\u4e0a\u3067\u91cd\u8981\u306a\u6307\u6a19\u3067\u3059\u3002<\/p>\n

          \u682a\u5f0f\u4fa1\u5024<\/h3>\n

          \u682a\u5f0f\u4fa1\u5024\uff08Equity Value\uff09\u3068\u306f\u3001\u682a\u4e3b\u304c\u4fdd\u6709\u3059\u308b\u4f01\u696d\u306e\u4fa1\u5024\u3092\u793a\u3059\u6307\u6a19<\/strong>\u3067\u3059\u3002\u4f01\u696d\u4fa1\u5024\u304b\u3089\u6709\u5229\u5b50\u8ca0\u50b5\u3092\u5dee\u3057\u5f15\u304d\u3001\u975e\u4e8b\u696d\u7528\u8cc7\u7523\u3092\u52a0\u3048\u308b\u3053\u3068\u3067\u7b97\u51fa\u3067\u304d\u307e\u3059\u3002<\/p>\n

          \u30de\u30eb\u30c1\u30d7\u30eb\u6cd5\u3067\u306f\u3001PER\uff08\u682a\u4fa1\u53ce\u76ca\u7387\uff09\u3084PBR\uff08\u682a\u4fa1\u7d14\u8cc7\u7523\u500d\u7387\uff09\u306a\u3069\u306e\u6307\u6a19\u3092\u7528\u3044\u3066\u3001\u682a\u5f0f\u4fa1\u5024\u3092\u8a55\u4fa1\u3057\u307e\u3059\u3002<\/p>\n

          \u4f8b\u3048\u3070\u3001PER\u3092\u7528\u3044\u308b\u5834\u5408\u3001\u4ee5\u4e0b\u306e\u8a08\u7b97\u5f0f\u3067\u682a\u5f0f\u4fa1\u5024\u3092\u7b97\u51fa\u3057\u307e\u3059\u3002<\/p>\n

            \n
          • \u682a\u5f0f\u4fa1\u5024\uff1d\u985e\u4f3c\u4f01\u696d\u306ePER\u00d7\u8a55\u4fa1\u5bfe\u8c61\u4f01\u696d\u306e\u5f53\u671f\u7d14\u5229\u76ca<\/li>\n<\/ul>\n

            \u682a\u5f0f\u4fa1\u5024\u306f\u3001\u6295\u8cc7\u5bb6\u304c\u6295\u8cc7\u5224\u65ad\u3092\u884c\u3046\u4e0a\u3067\u91cd\u8981\u306a\u6307\u6a19\u3067\u3059\u3002\u307e\u305f\u3001IPO\u6642\u306e\u682a\u4fa1\u7b97\u5b9a\u3084\u3001\u4e8b\u696d\u627f\u7d99\u6642\u306e\u682a\u5f0f\u8b72\u6e21\u4fa1\u683c\u306e\u6c7a\u5b9a\u306b\u3082\u7528\u3044\u3089\u308c\u307e\u3059\u3002<\/p>\n

            \u6295\u8cc7\u4fa1\u5024<\/h3>\n

            \u6295\u8cc7\u4fa1\u5024\u3068\u306f\u3001\u7279\u5b9a\u306e\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u306e\u4f01\u696d\u306e\u4fa1\u5024\u3092\u793a\u3059\u6307\u6a19<\/strong>\u3067\u3059\u3002\u500b\u3005\u306e\u6295\u8cc7\u5bb6\u306e\u30ea\u30b9\u30af\u8a31\u5bb9\u5ea6\u3084\u671f\u5f85\u53ce\u76ca\u7387\u3001\u6295\u8cc7\u671f\u9593\u306a\u3069\u3092\u8003\u616e\u3057\u3066\u7b97\u51fa\u3055\u308c\u307e\u3059\u3002\u30de\u30eb\u30c1\u30d7\u30eb\u6cd5\u3092\u6295\u8cc7\u4fa1\u5024\u306e\u8a55\u4fa1\u306b\u7528\u3044\u308b\u5834\u5408\u3001\u985e\u4f3c\u4f01\u696d\u306e\u9078\u5b9a\u3084\u30de\u30eb\u30c1\u30d7\u30eb\u306e\u9078\u629e\u306b\u304a\u3044\u3066\u3001\u6295\u8cc7\u5bb6\u306e\u8996\u70b9\u3092\u52a0\u5473\u3059\u308b\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n

            \u4f8b\u3048\u3070\u3001\u3042\u308b\u6295\u8cc7\u5bb6\u304c\u3001\u9ad8\u3044\u6210\u9577\u6027\u3092\u6301\u3064\u4f01\u696d\u306b\u6295\u8cc7\u3057\u305f\u3044\u3068\u8003\u3048\u3066\u3044\u308b\u5834\u5408\u3001\u985e\u4f3c\u4f01\u696d\u3068\u3057\u3066\u3001\u6210\u9577\u7387\u306e\u9ad8\u3044\u4f01\u696d\u3092\u9078\u5b9a\u3057\u3001PER\u3084EV\/\u58f2\u4e0a\u9ad8\u30de\u30eb\u30c1\u30d7\u30eb\u306a\u3069\u3001\u6210\u9577\u6027\u3092\u53cd\u6620\u3059\u308b\u6307\u6a19\u3092\u7528\u3044\u308b\u3053\u3068\u304c\u8003\u3048\u3089\u308c\u307e\u3059\u3002<\/p>\n

            \u6295\u8cc7\u4fa1\u5024\u306f\u3001M&A\u306b\u304a\u3051\u308b\u8cb7\u53ce\u63d0\u6848\u3084\u3001\u8cc7\u91d1\u8abf\u9054\u306b\u304a\u3051\u308b\u6295\u8cc7\u5bb6\u3078\u306e\u8aac\u660e\u306b\u304a\u3044\u3066\u91cd\u8981\u306a\u5f79\u5272\u3092\u679c\u305f\u3057\u307e\u3059\u3002<\/p>\n

            \u30de\u30eb\u30c1\u30d7\u30eb\u306e\u8a08\u7b97\u65b9\u6cd5<\/h2>\n\"\"\n

            \u30de\u30eb\u30c1\u30d7\u30eb\u6cd5\u306f\u3001\u985e\u4f3c\u3059\u308b\u4e0a\u5834\u4f01\u696d\u306e\u30c7\u30fc\u30bf\u306b\u57fa\u3065\u3044\u3066\u3001\u8a55\u4fa1\u5bfe\u8c61\u4f01\u696d\u306e\u4fa1\u5024\u3092\u63a8\u5b9a\u3059\u308b\u624b\u6cd5\u3067\u3059\u3002\u672c\u7ae0\u3067\u306f\u3001\u4ee3\u8868\u7684\u306a\u30de\u30eb\u30c1\u30d7\u30eb\u6307\u6a19\u3067\u3042\u308bEV\/EBITDA\u3001PER\u3001PBR\u3092\u7528\u3044\u305f\u8a08\u7b97\u65b9\u6cd5\u3092\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n

            EV\/EBITDA\u3092\u7528\u3044\u305f\u8a08\u7b97<\/h3>\n

            EV\/EBITDA\uff08Enterprise Value\/Earnings Before Interest, Taxes, Depreciation and Amortization\uff09\u306f\u3001\u4f01\u696d\u5168\u4f53\u306e\u4fa1\u5024\uff08EV\uff09\u304c\u3001\u7a0e\u5f15\u524d\u30fb\u652f\u6255\u5229\u606f\u524d\u30fb\u6e1b\u4fa1\u511f\u5374\u524d\u5229\u76ca\uff08EBITDA\uff09\u306e\u4f55\u500d\u3067\u3042\u308b\u304b\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002\u4f01\u696d\u306e\u53ce\u76ca\u529b\u306b\u7740\u76ee\u3057\u305f\u8a55\u4fa1\u65b9\u6cd5\u3067\u3001M&A\u306e\u73fe\u5834\u3067\u3088\u304f\u7528\u3044\u3089\u308c\u307e\u3059\u3002<\/p>\n

            EV\/EBITDA\u30de\u30eb\u30c1\u30d7\u30eb\u3092\u7528\u3044\u305f\u4f01\u696d\u4fa1\u5024\u306e\u8a08\u7b97\u5f0f<\/strong>\u306f\u4ee5\u4e0b\u306e\u3068\u304a\u308a\u3067\u3059\u3002<\/p>\n

              \n
            • \u4f01\u696d\u4fa1\u5024\uff08EV\uff09\uff1d\u985e\u4f3c\u4f01\u696d\u306eEV\/EBITDA\u30de\u30eb\u30c1\u30d7\u30eb\u00d7\u8a55\u4fa1\u5bfe\u8c61\u4f01\u696d\u306eEBITDA<\/li>\n<\/ul>\n

              EV\/EBITDA\u30de\u30eb\u30c1\u30d7\u30eb\u306e\u8a08\u7b97\u5f0f\u306f\u4ee5\u4e0b\u306e\u3068\u304a\u308a\u3067\u3059\u3002<\/p>\n

                \n
              • EV\/EBITDA =\uff08\u682a\u5f0f\u6642\u4fa1\u7dcf\u984d + \u6709\u5229\u5b50\u8ca0\u50b5 – \u73fe\u91d1\u540c\u7b49\u7269\uff09\/ EBITDA<\/li>\n<\/ul>\n

                \u5404\u9805\u76ee\u306e\u610f\u5473\u306f\u4ee5\u4e0b\u306e\u3068\u304a\u308a\u3067\u3059\u3002<\/p>\n

                  \n
                • \u682a\u5f0f\u6642\u4fa1\u7dcf\u984d\uff1a\u682a\u4fa1\u00d7\u767a\u884c\u6e08\u682a\u5f0f\u6570<\/li>\n
                • \u6709\u5229\u5b50\u8ca0\u50b5\uff1a\u8fd4\u6e08\u7fa9\u52d9\u306e\u3042\u308b\u8ca0\u50b5\uff08\u501f\u5165\u91d1\u3001\u793e\u50b5\u306a\u3069\uff09<\/li>\n
                • \u73fe\u91d1\u540c\u7b49\u7269\uff1a\u73fe\u91d1\u3001\u9810\u91d1\u3001\u3059\u3050\u306b\u73fe\u91d1\u5316\u3067\u304d\u308b\u77ed\u671f\u6295\u8cc7<\/li>\n
                • EBITDA\uff1a\u7a0e\u5f15\u524d\u5229\u76ca\uff0b\u652f\u6255\u5229\u606f\uff0b\u6e1b\u4fa1\u511f\u5374\u8cbb<\/li>\n<\/ul>\n

                  EBITDA\u306f\u3001\u4f01\u696d\u306e\u55b6\u696d\u6d3b\u52d5\u306b\u3088\u308b\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u8fd1\u4f3c\u7684\u306b\u8868\u3059\u6307\u6a19\u3068\u3057\u3066\u7528\u3044\u3089\u308c\u307e\u3059\u3002EV\/EBITDA\u30de\u30eb\u30c1\u30d7\u30eb\u306f\u3001\u4f01\u696d\u306e\u8cb7\u53ce\u4fa1\u984d\u304c\u4f01\u696d\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u751f\u307f\u51fa\u3059\u529b\u306e\u4f55\u500d\u306b\u76f8\u5f53\u3059\u308b\u304b\u3092\u793a\u3059\u305f\u3081\u3001\u6295\u8cc7\u5224\u65ad\u306e\u53c2\u8003\u3068\u3057\u3066\u5f79\u7acb\u3061\u307e\u3059\u3002<\/p>\n

                  \u4f8b\u3048\u3070\u3001\u985e\u4f3c\u4f01\u696d\u306eEV\/EBITDA\u30de\u30eb\u30c1\u30d7\u30eb\u304c8\u500d\u3067\u3042\u308a\u3001\u8a55\u4fa1\u5bfe\u8c61\u4f01\u696d\u306eEBITDA\u304c10\u5104\u5186\u306e\u5834\u5408\u3001\u8a55\u4fa1\u5bfe\u8c61\u4f01\u696d\u306e\u4f01\u696d\u4fa1\u5024\u306f80\u5104\u5186\u3068\u8a08\u7b97\u3067\u304d\u307e\u3059\u3002<\/p>\n

                  PER\u3092\u7528\u3044\u305f\u8a08\u7b97<\/h3>\n

                  PER\uff08Price Earnings Ratio\uff09\u306f\u3001\u682a\u4fa1\u304c1\u682a\u3042\u305f\u308a\u5f53\u671f\u7d14\u5229\u76ca\u306e\u4f55\u500d\u3067\u3042\u308b\u304b\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002\u6295\u8cc7\u5bb6\u304c\u4f01\u696d\u306e\u53ce\u76ca\u529b\u306b\u5bfe\u3057\u3066\u3001\u3044\u304b\u306b\u8a55\u4fa1\u3092\u4e0e\u3048\u3066\u3044\u308b\u304b\u3092\u793a\u3059\u3082\u306e\u3067\u3001\u682a\u5f0f\u6295\u8cc7\u306e\u6307\u6a19\u3068\u3057\u3066\u3088\u304f\u7528\u3044\u3089\u308c\u307e\u3059\u3002<\/p>\n

                  PER\u3092\u7528\u3044\u305f\u682a\u5f0f\u4fa1\u5024\u306e\u8a08\u7b97\u5f0f<\/strong>\u306f\u4ee5\u4e0b\u306e\u3068\u304a\u308a\u3067\u3059\u3002<\/p>\n

                    \n
                  • \u682a\u5f0f\u4fa1\u5024\uff1d\u985e\u4f3c\u4f01\u696d\u306ePER\u00d7\u8a55\u4fa1\u5bfe\u8c61\u4f01\u696d\u306e\u5f53\u671f\u7d14\u5229\u76ca<\/li>\n<\/ul>\n

                    PER\u306e\u8a08\u7b97\u5f0f\u306f\u4ee5\u4e0b\u306e\u3068\u304a\u308a\u3067\u3059\u3002<\/p>\n

                      \n
                    • PER=\u682a\u4fa1\/1\u682a\u3042\u305f\u308a\u5f53\u671f\u7d14\u5229\u76ca<\/li>\n<\/ul>\n

                      \u307e\u305f\u306f\u3001\u4ee5\u4e0b\u306e\u8a08\u7b97\u5f0f\u304c\u7528\u3044\u3089\u308c\u307e\u3059\u3002<\/p>\n

                        \n
                      • PER=\u682a\u5f0f\u6642\u4fa1\u7dcf\u984d\/\u5f53\u671f\u7d14\u5229\u76ca<\/li>\n<\/ul>\n

                        PER\u306f\u3001\u4f01\u696d\u306e\u53ce\u76ca\u6027\u3068\u6210\u9577\u6027\u3092\u7dcf\u5408\u7684\u306b\u5224\u65ad\u3059\u308b\u305f\u3081\u306e\u6307\u6a19\u3068\u3057\u3066\u7528\u3044\u3089\u308c\u307e\u3059\u3002\u4e00\u822c\u7684\u306b\u3001PER\u304c\u9ad8\u3044\u307b\u3069\u3001\u6295\u8cc7\u5bb6\u304c\u305d\u306e\u4f01\u696d\u306e\u5c06\u6765\u6027\u306b\u671f\u5f85\u3057\u3066\u3044\u308b\u3068\u8003\u3048\u3089\u308c\u307e\u3059\u3002<\/p>\n

                        \u4f8b\u3048\u3070\u3001\u985e\u4f3c\u4f01\u696d\u306ePER\u304c15\u500d\u3067\u3042\u308a\u3001\u8a55\u4fa1\u5bfe\u8c61\u4f01\u696d\u306e\u5f53\u671f\u7d14\u5229\u76ca\u304c5\u5104\u5186\u306e\u5834\u5408\u3001\u8a55\u4fa1\u5bfe\u8c61\u4f01\u696d\u306e\u682a\u5f0f\u4fa1\u5024\u306f75\u5104\u5186\u3068\u8a08\u7b97\u3067\u304d\u307e\u3059\u3002<\/p>\n

                        PBR\u3092\u7528\u3044\u305f\u8a08\u7b97<\/h3>\n

                        PBR\uff08Price Book-value Ratio\uff09\u306f\u3001\u682a\u4fa1\u304c1\u682a\u3042\u305f\u308a\u7d14\u8cc7\u7523\u306e\u4f55\u500d\u3067\u3042\u308b\u304b\u3092\u793a\u3059\u6307\u6a19<\/strong>\u3067\u3059\u3002\u4f01\u696d\u306e\u8cc7\u7523\u4fa1\u5024\u306b\u7740\u76ee\u3057\u305f\u8a55\u4fa1\u65b9\u6cd5\u3067\u3001\u4f01\u696d\u306e\u89e3\u6563\u4fa1\u5024\u3092\u6e2c\u308b\u969b\u306b\u7528\u3044\u3089\u308c\u307e\u3059\u3002<\/p>\n

                        PBR\u3092\u7528\u3044\u305f\u682a\u5f0f\u4fa1\u5024\u306e\u8a08\u7b97\u5f0f\u306f\u4ee5\u4e0b\u306e\u3068\u304a\u308a\u3067\u3059\u3002<\/p>\n

                          \n
                        • \u682a\u5f0f\u4fa1\u5024\uff1d\u985e\u4f3c\u4f01\u696d\u306ePBR\u00d7\u8a55\u4fa1\u5bfe\u8c61\u4f01\u696d\u306e\u7d14\u8cc7\u7523<\/li>\n<\/ul>\n

                          PBR\u306e\u8a08\u7b97\u5f0f\u306f\u4ee5\u4e0b\u306e\u3068\u304a\u308a\u3067\u3059\u3002<\/p>\n

                            \n
                          • PBR=\u682a\u4fa1\/1\u682a\u3042\u305f\u308a\u7d14\u8cc7\u7523<\/li>\n<\/ul>\n

                            \u307e\u305f\u306f\u3001\u4ee5\u4e0b\u306e\u8a08\u7b97\u5f0f\u304c\u7528\u3044\u3089\u308c\u307e\u3059\u3002<\/p>\n

                              \n
                            • PBR = \u682a\u5f0f\u6642\u4fa1\u7dcf\u984d\/\u7d14\u8cc7\u7523<\/li>\n<\/ul>\n

                              PBR\u306f\u3001\u4f01\u696d\u306e\u8cc7\u7523\u4fa1\u5024\u3068\u5e02\u5834\u8a55\u4fa1\u3092\u6bd4\u8f03\u3059\u308b\u305f\u3081\u306e\u6307\u6a19\u3068\u3057\u3066\u7528\u3044\u3089\u308c\u307e\u3059\u3002\u4e00\u822c\u7684\u306b\u3001PBR\u304c1\u500d\u3092\u4e0b\u56de\u308b\u5834\u5408\u3001\u305d\u306e\u4f01\u696d\u306e\u682a\u4fa1\u306f\u89e3\u6563\u4fa1\u5024\u3088\u308a\u3082\u4f4e\u3044\u3068\u5224\u65ad\u3055\u308c\u307e\u3059\u3002<\/p>\n

                              \u4f8b\u3048\u3070\u3001\u985e\u4f3c\u4f01\u696d\u306ePBR\u304c1.2\u500d\u3067\u3042\u308a\u3001\u8a55\u4fa1\u5bfe\u8c61\u4f01\u696d\u306e\u7d14\u8cc7\u7523\u304c10\u5104\u5186\u306e\u5834\u5408\u3001\u8a55\u4fa1\u5bfe\u8c61\u4f01\u696d\u306e\u682a\u5f0f\u4fa1\u5024\u306f12\u5104\u5186\u3068\u8a08\u7b97\u3067\u304d\u307e\u3059\u3002<\/p>\n

                              \u30de\u30eb\u30c1\u30d7\u30eb\u6cd5\u3092\u6d3b\u7528\u3059\u308b\u969b\u306e\u6ce8\u610f\u70b9<\/h2>\n\"\"\n

                              \u30de\u30eb\u30c1\u30d7\u30eb\u6cd5\u306f\u3001\u4f01\u696d\u306e\u4fa1\u5024\u3092\u7c21\u4fbf\u7684\u306b\u8a55\u4fa1\u3067\u304d\u308b\u5f37\u529b\u306a\u30c4\u30fc\u30eb\u3067\u3059\u304c\u3001\u5229\u7528\u306b\u306f\u4ee5\u4e0b\u306e\u3088\u3046\u306a\u6ce8\u610f\u70b9\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n

                              \u985e\u4f3c\u4f01\u696d\u306e\u9078\u5b9a\uff1a\u9069\u5207\u306a\u6bd4\u8f03\u5bfe\u8c61\u3092\u898b\u3064\u3051\u308b<\/h3>\n

                              \u30de\u30eb\u30c1\u30d7\u30eb\u6cd5\u3067\u306f\u3001\u8a55\u4fa1\u5bfe\u8c61\u4f01\u696d\u3068\u4e8b\u696d\u5185\u5bb9\u3001\u898f\u6a21\u3001\u6210\u9577\u6027\u306a\u3069\u304c\u985e\u4f3c\u3057\u305f\u4f01\u696d\uff08\u985e\u4f3c\u4f01\u696d\uff09\u3092\u9078\u5b9a\u3057\u3001\u305d\u306e\u30de\u30eb\u30c1\u30d7\u30eb\u3092\u57fa\u306b\u8a55\u4fa1\u3092\u884c\u3044\u307e\u3059\u3002\u3057\u304b\u3057\u3001\u985e\u4f3c\u4f01\u696d\u306e\u9078\u5b9a\u306f\u4e3b\u89b3\u7684\u306a\u5224\u65ad\u304c\u5165\u308a\u3084\u3059\u304f\u3001\u8a55\u4fa1\u7d50\u679c\u306b\u5927\u304d\u306a\u5f71\u97ff\u3092\u4e0e\u3048\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n

                              \u8907\u6570\u306e\u985e\u4f3c\u4f01\u696d\u3092\u9078\u5b9a\u3057\u3001\u30de\u30eb\u30c1\u30d7\u30eb\u306e\u5e73\u5747\u5024\u3084\u4e2d\u592e\u5024\u3092\u7528\u3044\u308b<\/strong>\u3068\u3001\u500b\u5225\u306e\u4f01\u696d\u306e\u7279\u6b8a\u8981\u56e0\u306b\u3088\u308b\u5f71\u97ff\u3092\u7de9\u548c\u3067\u304d\u307e\u3059\u3002<\/p>\n

                              \u5e02\u5834\u74b0\u5883\u306e\u5f71\u97ff\uff1a\u666f\u6c17\u5909\u52d5\u3092\u8003\u616e\u3059\u308b<\/h3>\n

                              \u30de\u30eb\u30c1\u30d7\u30eb\u306f\u3001\u5e02\u5834\u306e\u72b6\u6cc1\u306b\u3088\u3063\u3066\u5927\u304d\u304f\u5909\u52d5\u3057\u307e\u3059\u3002\u666f\u6c17\u5909\u52d5\u3001\u91d1\u5229\u5909\u52d5\u3001\u696d\u754c\u306e\u30c8\u30ec\u30f3\u30c9\u306a\u3069\u3001\u3055\u307e\u3056\u307e\u306a\u8981\u56e0\u304c\u30de\u30eb\u30c1\u30d7\u30eb\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u308b\u306e\u3067\u3001\u8a55\u4fa1\u6642\u70b9\u306e\u5e02\u5834\u74b0\u5883\u3092\u8003\u616e\u3059\u308b\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n

                              \u904e\u53bb\u306e\u30de\u30eb\u30c1\u30d7\u30eb\u306e\u63a8\u79fb\u3092\u5206\u6790\u3057\u3001\u73fe\u5728\u306e\u5e02\u5834\u74b0\u5883\u3068\u6bd4\u8f03\u3059\u308b<\/strong>\u3068\u3001\u30de\u30eb\u30c1\u30d7\u30eb\u306e\u59a5\u5f53\u6027\u3092\u5224\u65ad\u3067\u304d\u307e\u3059\u3002\u307e\u305f\u3001\u5c06\u6765\u306e\u5e02\u5834\u74b0\u5883\u306e\u5909\u5316\u3092\u4e88\u6e2c\u3057\u3001\u305d\u306e\u5f71\u97ff\u3092\u8003\u616e\u3059\u308b\u306e\u3082\u91cd\u8981\u3067\u3059\u3002<\/p>\n

                              \u8ca1\u52d9\u30c7\u30fc\u30bf\u306e\u6b6a\u307f\uff1a\u4f1a\u8a08\u51e6\u7406\u306e\u9055\u3044\u306b\u6ce8\u610f<\/h3>\n

                              \u4f01\u696d\u304c\u63a1\u7528\u3059\u308b\u4f1a\u8a08\u51e6\u7406\u306e\u65b9\u6cd5\u306f\u3001\u56fd\u3084\u4f01\u696d\u306b\u3088\u3063\u3066\u7570\u306a\u308b\u5834\u5408\u304c\u3042\u308a\u307e\u3059\u3002\u4f1a\u8a08\u51e6\u7406\u306e\u9055\u3044\u306f\u3001\u8ca1\u52d9\u30c7\u30fc\u30bf\u306b\u6b6a\u307f\u3092\u751f\u3058\u3055\u305b\u3001\u30de\u30eb\u30c1\u30d7\u30eb\u306e\u6bd4\u8f03\u3092\u56f0\u96e3\u306b\u3059\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n

                              \u8ca1\u52d9\u8af8\u8868\u306e\u6ce8\u8a18\u306a\u3069\u3092\u78ba\u8a8d\u3057\u3001\u4f1a\u8a08\u51e6\u7406\u306e\u9055\u3044\u3092\u628a\u63e1<\/strong>\u3057\u307e\u3057\u3087\u3046\u3002\u72b6\u6cc1\u306b\u5fdc\u3058\u3066\u3001\u8ca1\u52d9\u30c7\u30fc\u30bf\u3092\u8abf\u6574\u3057\u3001\u6bd4\u8f03\u53ef\u80fd\u306a\u72b6\u614b\u306b\u3059\u308b\u5fc5\u8981\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n

                              \u5c06\u6765\u6027\u306e\u8a55\u4fa1\uff1a\u6210\u9577\u7387\u3092\u52a0\u5473\u3059\u308b<\/h3>\n

                              \u30de\u30eb\u30c1\u30d7\u30eb\u6cd5\u306f\u3001\u904e\u53bb\u306e\u8ca1\u52d9\u30c7\u30fc\u30bf\u306b\u57fa\u3065\u3044\u3066\u4f01\u696d\u4fa1\u5024\u3092\u8a55\u4fa1\u3059\u308b\u624b\u6cd5\u3067\u3059\u304c\u3001\u4f01\u696d\u306e\u5c06\u6765\u6027\u306e\u8003\u616e\u3082\u91cd\u8981\u3067\u3059\u3002\u7279\u306b\u3001\u6210\u9577\u6027\u306e\u9ad8\u3044\u4f01\u696d\u306e\u5834\u5408\u3001\u904e\u53bb\u306e\u30c7\u30fc\u30bf\u3060\u3051\u3067\u306f\u4fa1\u5024\u3092\u5341\u5206\u306b\u53cd\u6620\u3067\u304d\u306a\u3044\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002\u4ee5\u4e0b\u306e\u70b9\u306b\u6ce8\u610f\u3057\u3066\u3001\u5c06\u6765\u6027\u3092\u8a55\u4fa1\u306b\u7e54\u308a\u8fbc\u307f\u307e\u3057\u3087\u3046\u3002<\/p>\n

                              \u5c06\u6765\u306e\u6210\u9577\u7387\u3092\u8003\u616e\u3057\u305f\u30de\u30eb\u30c1\u30d7\u30eb\uff08\u4f8b\u3001PEG\u30ec\u30b7\u30aa\uff1aPER\u3092\u6210\u9577\u7387\u3067\u5272\u3063\u305f\u3082\u306e\uff09\u3092\u7528\u3044\u308b<\/strong>\u3068\u3001\u6210\u9577\u6027\u306e\u9ad8\u3044\u4f01\u696d\u306e\u4fa1\u5024\u3092\u3088\u308a\u6b63\u78ba\u306b\u8a55\u4fa1\u3067\u304d\u307e\u3059\u3002<\/p>\n

                              \u307e\u3068\u3081\uff1a\u30de\u30eb\u30c1\u30d7\u30eb\u3092\u7406\u89e3\u3057\u3066\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\u306b\u5f79\u7acb\u3066\u3088\u3046<\/h2>\n\"\"\n

                              \u30de\u30eb\u30c1\u30d7\u30eb\u306f\u3001\u4f01\u696d\u4fa1\u5024\u3084\u682a\u5f0f\u4fa1\u5024\u3092\u8a55\u4fa1\u3059\u308b\u305f\u3081\u306e\u91cd\u8981\u306a\u6307\u6a19\u3067\u3042\u308a\u3001\u6295\u8cc7\u5224\u65ad\u3084M&A\u306e\u610f\u601d\u6c7a\u5b9a\u306b\u5f79\u7acb\u3061\u307e\u3059\u3002<\/p>\n

                              \u30de\u30eb\u30c1\u30d7\u30eb\u306f\u3001\u3042\u304f\u307e\u3067\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\u306e\u4e00\u3064\u306e\u624b\u6cd5\u3067\u3042\u308a\u3001\u4e07\u80fd\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u3057\u304b\u3057\u3001\u610f\u5473\u3084\u9650\u754c\u3092\u7406\u89e3\u3057\u3001\u4ed6\u306e\u8a55\u4fa1\u624b\u6cd5\u3068\u7d44\u307f\u5408\u308f\u305b\u308b\u3068\u3001\u3088\u308a\u7cbe\u5ea6\u306e\u9ad8\u3044\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\u304c\u53ef\u80fd<\/strong>\u3067\u3059\u3002<\/p>\n

                              M\uff06A\u30a2\u30c9\u30d0\u30a4\u30b6\u30ea\u30fc\u3068\u3057\u3066M&A\u306b\u95a2\u9023\u3059\u308b\u4e00\u9023\u306e\u30a2\u30c9\u30d0\u30a4\u30b9\u3068\u5951\u7d04\u6210\u7acb\u307e\u3067\u306e\u53d6\u308a\u307e\u3068\u3081\u5f79\u3092\u62c5\u3063\u3066\u3044\u308b\u300c\u682a\u5f0f\u4f1a\u793e\u30d1\u30e9\u30c0\u30a4\u30e0\u30b7\u30d5\u30c8\u300d\u306f\u30012011\u5e74\u306e\u8a2d\u7acb\u4ee5\u6765\u8c4a\u5bcc\u306a\u77e5\u8b58\u3084\u7d4c\u9a13\u306e\u3082\u3068IT\u9818\u57df\u306b\u529b\u3092\u5165\u308c\u3001\u7d4c\u55b6\u306b\u95a2\u3059\u308b\u30b5\u30dd\u30fc\u30c8\u3084\u30a2\u30c9\u30d0\u30a4\u30b9\u3092\u5b9f\u65bd\u3057\u3066\u3044\u307e\u3059\u3002<\/span><\/p>\n

                              \u30d1\u30e9\u30c0\u30a4\u30e0\u30b7\u30d5\u30c8\u304c\u9078\u3070\u308c\u308b4\u3064\u306e\u7279\u5fb4<\/strong><\/p>\n

                                \n
                              • IT\u9818\u57df\u306b\u7279\u5316\u3057\u305fM&A\u30a2\u30c9\u30d0\u30a4\u30b6\u30ea\u30fc<\/strong><\/li>\n
                              • IT\u696d\u754c\u306e\u8c4a\u5bcc\u306a\u60c5\u5831\u529b<\/strong><\/li>\n
                              • \u300c\u7d0d\u5f97\u611f\u300d\u3068\u300c\u6e80\u8db3\u611f\u300d\u306e\u9ad8\u3044\u30b5\u30fc\u30d3\u30b9<\/strong><\/li>\n
                              • \u30d7\u30ed\u30d5\u30a7\u30c3\u30b7\u30e7\u30ca\u30eb\u30c1\u30fc\u30e0\u306b\u3088\u308b\u9069\u5207\u306a\u6848\u4ef6\u7d44\u6210<\/strong><\/li>\n<\/ul>\n

                                M&A\u3067\u81ea\u793e\u3092\u58f2\u5374\u3057\u305f\u3044\u3068\u8003\u3048\u308b\u7d4c\u55b6\u8005\u3084\u62c5\u5f53\u8005\u306e\u65b9\u306f\u3001\u305c\u3072\u304a\u6c17\u8efd\u306b\u304a\u554f\u3044\u5408\u308f\u305b\u304f\u3060\u3055\u3044\u3002<\/span><\/p>\n

                                \u307e\u305fM&A\u3092\u6210\u529f\u3055\u305b\u308b\u305f\u3081\u306e\u30b3\u30c4\u306b\u3064\u3044\u3066\u516814\u30da\u30fc\u30b8\u306b\u6e21\u3063\u3066\u8aac\u660e\u3057\u305f\u8cc7\u6599\u3092\u7121\u6599\u3067\u3054\u63d0\u4f9b\u3057\u307e\u3059\u306e\u3067\u3001\u4e0b\u8a18\u3088\u308a\u30c0\u30a6\u30f3\u30ed\u30fc\u30c9\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

                                \u30de\u30eb\u30c1\u30d7\u30eb\u3068\u306f\u3001\u4f01\u696d\u306e\u4fa1\u5024\u3092\u6e2c\u308b\u4e0a\u3067\u6b20\u304b\u305b\u306a\u3044\u6307\u6a19\u3067\u3059\u304c\u3001 \u540d\u524d\u306f\u805e\u3044\u305f\u3053\u3068\u304c\u3042\u308b\u3051\u3069\u3001\u5b9f\u969b\u306b\u3069\u3046\u4f7f\u3046\u306e\u304b\u3088\u304f\u308f\u304b\u3089\u306a\u3044\u3068\u60a9\u3080\u65b9\u306f\u5c11\u306a\u304f\u3042\u308a\u307e\u305b\u3093\u3002 \u672c\u8a18\u4e8b\u3067\u306f\u3001 \u30de\u30eb\u30c1\u30d7\u30eb\u306e\u610f\u5473\u304b\u3089\u8a08\u7b97\u65b9\u6cd5\u3001 \u6d3b\u7528\u6642\u306e\u6ce8\u610f\u70b9\u307e\u3067\u3092\u5fb9\u5e95…<\/p>\n","protected":false},"author":39,"featured_media":7341,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"post-7338","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-corporate-evalution","8":"article"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/paradigm-shift.co.jp\/media\/wp-json\/wp\/v2\/posts\/7338","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/paradigm-shift.co.jp\/media\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/paradigm-shift.co.jp\/media\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/paradigm-shift.co.jp\/media\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/paradigm-shift.co.jp\/media\/wp-json\/wp\/v2\/comments?post=7338"}],"version-history":[{"count":5,"href":"https:\/\/paradigm-shift.co.jp\/media\/wp-json\/wp\/v2\/posts\/7338\/revisions"}],"predecessor-version":[{"id":7389,"href":"https:\/\/paradigm-shift.co.jp\/media\/wp-json\/wp\/v2\/posts\/7338\/revisions\/7389"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/paradigm-shift.co.jp\/media\/wp-json\/wp\/v2\/media\/7341"}],"wp:attachment":[{"href":"https:\/\/paradigm-shift.co.jp\/media\/wp-json\/wp\/v2\/media?parent=7338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/paradigm-shift.co.jp\/media\/wp-json\/wp\/v2\/categories?post=7338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/paradigm-shift.co.jp\/media\/wp-json\/wp\/v2\/tags?post=7338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}