{"id":1114,"date":"2026-01-12T23:11:25","date_gmt":"2026-01-12T14:11:25","guid":{"rendered":"https:\/\/mitsukijapan.com\/ma\/?post_type=columm&#038;p=1114"},"modified":"2026-01-12T23:11:26","modified_gmt":"2026-01-12T14:11:26","slug":"ma-valuation-explanation-timing-points","status":"publish","type":"column","link":"https:\/\/mitsukijapan.com\/ma\/column\/ma-valuation-explanation-timing-points\/","title":{"rendered":"\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\u306e\u30bf\u30a4\u30df\u30f3\u30b0\u306f\uff1fM&amp;A\u3067\u306e\u682a\u4fa1\u7b97\u5b9a\u306e\u6642\u671f\u3092\u89e3\u8aac"},"content":{"rendered":"\n<p>\u4f01\u696d\u4fa1\u5024\u306e\u7b97\u5b9a\u306f\u3001\u8b72\u6e21\u30aa\u30fc\u30ca\u30fc\u30fb\u8b72\u53d7\u4f01\u696d\u306e\u4e21\u8005\u306b\u3068\u3063\u3066M&amp;A\u304c\u6210\u529f\u3059\u308b\u304b\u5426\u304b\u306e\u91cd\u8981\u306a\u8981\u7d20\u3068\u306a\u308a\u307e\u3059\u3002\u672c\u8a18\u4e8b\u3067\u306f\u3001M&amp;A\u3092\u691c\u8a0e\u3057\u3066\u3044\u308b\u7d4c\u55b6\u8005\u306b\u5411\u3051\u3066\u3001\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\u304c\u91cd\u8981\u3067\u3042\u308b\u7406\u7531\u3084\u7b97\u5b9a\u65b9\u6cd5\u306b\u3064\u3044\u3066\u5206\u304b\u308a\u6613\u304f\u89e3\u8aac\u3057\u307e\u3059\u306e\u3067\u3001\u304a\u5f79\u7acb\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n\n<div 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data-level=\"3\"><li><a href=\"#arkb-toc-5\" class=\"ark-block-toc__link\">\u4f01\u696d\u4fa1\u5024\u3092\u9069\u6b63\u306b\u7b97\u5b9a\u3059\u308b\u91cd\u8981\u6027<\/a><\/li><li><a href=\"#arkb-toc-6\" class=\"ark-block-toc__link\">\u4ee3\u8868\u7684\u306a\uff13\u3064\u306e\u8a55\u4fa1\u30a2\u30d7\u30ed\u30fc\u30c1<\/a><\/li><li><a href=\"#arkb-toc-7\" class=\"ark-block-toc__link\">\u4e2d\u5c0f\u4f01\u696dM&amp;A\u306b\u9069\u3057\u305f\u8a55\u4fa1\u624b\u6cd5<\/a><\/li><\/ol><\/li><li><a href=\"#arkb-toc-8\" class=\"ark-block-toc__link\">\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\u306b\u9577\u3051\u305fM&amp;A\u4ef2\u4ecb\u4f1a\u793e\u306e\u9078\u3073\u65b9<\/a><\/li><li><a href=\"#arkb-toc-9\" 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class=\"has-arkb-anchor-color has-text-color has-link-color wp-elements-d35281866eb7869a178cb5f67e0a4496\"><a href=\"https:\/\/mitsukijapan.com\/ma\/contact\/\" data-type=\"link\" data-id=\"https:\/\/mitsukijapan.com\/ma\/contact\/\">\uff1e \u307f\u3064\u304d\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u306b\u7121\u6599\u76f8\u8ac7\u3059\u308b\uff5c\u7a0e\u7406\u58eb\u6cd5\u4eba\u30b0\u30eb\u30fc\u30d7<\/a><\/p>\n\n\n\n<h2 id=\"arkb-toc-0\" class=\"wp-block-heading\">\u4f01\u696d\u4fa1\u5024\u3092\u8a55\u4fa1\u3059\u308b\u30bf\u30a4\u30df\u30f3\u30b0<\/h2>\n\n\n\n<p>M&amp;A\u306b\u304a\u3044\u3066\u4f01\u696d\u4fa1\u5024\u3092\u8a55\u4fa1\u3059\u308b\u30bf\u30a4\u30df\u30f3\u30b0\u306f\u3001\u5e7e\u3064\u304b\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"812\" height=\"401\" src=\"https:\/\/mitsukijapan.com\/ma\/wp-content\/uploads\/MA\u306e\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\uff08\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\uff09\u306e\u30bf\u30a4\u30df\u30f3\u30b0\uff08\u3044\u3064\u884c\u3046\u304b\uff09.jpg\" alt=\"M&amp;A\u306e\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\uff08\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\uff09\u306e\u30bf\u30a4\u30df\u30f3\u30b0\uff08\u3044\u3064\u884c\u3046\u304b\uff09\" class=\"wp-image-5823\" srcset=\"https:\/\/mitsukijapan.com\/ma\/wp-content\/uploads\/MA\u306e\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\uff08\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\uff09\u306e\u30bf\u30a4\u30df\u30f3\u30b0\uff08\u3044\u3064\u884c\u3046\u304b\uff09.jpg 812w, https:\/\/mitsukijapan.com\/ma\/wp-content\/uploads\/MA\u306e\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\uff08\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\uff09\u306e\u30bf\u30a4\u30df\u30f3\u30b0\uff08\u3044\u3064\u884c\u3046\u304b\uff09-640x316.jpg 640w, https:\/\/mitsukijapan.com\/ma\/wp-content\/uploads\/MA\u306e\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\uff08\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\uff09\u306e\u30bf\u30a4\u30df\u30f3\u30b0\uff08\u3044\u3064\u884c\u3046\u304b\uff09-768x379.jpg 768w\" sizes=\"(max-width: 812px) 100vw, 812px\" \/><\/figure>\n<\/div>\n\n\n<p>\u4ee5\u4e0b\u3067\u306f\u3001\u4e3b\u306b\u8b72\u6e21\u5074\u306e\u8996\u70b9\u304b\u3089\u3001\u305d\u308c\u305e\u308c\u306e\u6bb5\u968e\u3067\u306e\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u3092\u8aac\u660e\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"has-luminous-vivid-orange-color has-text-color has-link-color wp-elements-03e39b45cfbadf1a445b13d6219067a7\"><a href=\"https:\/\/mitsukijapan.com\/ma\/valuations\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u4f01\u696d\u4fa1\u5024\u3092\u7121\u6599\u3067\u30b7\u30df\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u3059\u308b \uff1e<\/a><\/p>\n\n\n\n<h3 id=\"arkb-toc-1\" class=\"wp-block-heading\">\uff11\uff0e\u691c\u8a0e\u521d\u671f\u306e\u6bb5\u968e<\/h3>\n\n\n\n<p>\u8b72\u6e21\u5074\u306f\u3001M&amp;A\u4ef2\u4ecb\u4f1a\u793e\u7b49\u3068\u306e\u79d8\u5bc6\u4fdd\u6301\u5951\u7d04\u3084<a href=\"https:\/\/mitsukijapan.com\/ma\/column\/ma-advisory-contract-contents-determined-market-price-remuneration\/\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color 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id=\"arkb-toc-2\" class=\"wp-block-heading\">\uff12\uff0e\u610f\u5411\u8868\u660e\u30fb\u57fa\u672c\u5408\u610f\u306e\u6bb5\u968e<\/h3>\n\n\n\n<p>\u8b72\u53d7\u4f01\u696d\u3068\u306e\u30c8\u30c3\u30d7\u9762\u8ac7\u7b49\u3092\u7d4c\u3066\u3001\u304a\u8a71\u304c\u9032\u3080\u5834\u5408\u306b\u306f\u3001\u8b72\u53d7\u4f01\u696d\u304b\u3089\u306e<a href=\"https:\/\/mitsukijapan.com\/ma\/column\/ma-statement-intent-purpose-contents-differences-basic-agreement\/\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-arkb-anchor-color\">\u610f\u5411\u8868\u660e\u66f8<\/mark><\/a>\u306e\u63d0\u51fa\u3001\u307e\u305f\u306f\uff08\u53ca\u3073\uff09\u8b72\u53d7\u4f01\u696d\u3068\u306e<a href=\"https:\/\/mitsukijapan.com\/ma\/column\/basic-agreement-ma-contents-timing-conclusion\/\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color 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id=\"arkb-toc-3\" class=\"wp-block-heading\">\uff12\uff0e\u30c7\u30e5\u30fc\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u5b9f\u65bd\u5f8c\u306e\u6700\u7d42\u6bb5\u968e<\/h3>\n\n\n\n<p>\u610f\u5411\u8868\u660e\u3084\u57fa\u672c\u5408\u610f\u306b\u3066\uff08\u4e00\u5fdc\u306f\uff09\u5408\u610f\u3055\u308c\u305f\u8b72\u6e21\u4fa1\u683c\u3092\u30d9\u30fc\u30b9\u306b\u3057\u3064\u3064\u3001\u305d\u306e\u91d1\u984d\u306e\u59a5\u5f53\u6027\u3092\u691c\u8a3c\u3057\u305f\u308a\u3001\u6e1b\u984d\u3059\u3079\u304d\u8981\u56e0\u304c\u306a\u3044\u304b\u306e\u78ba\u8a8d\u4f5c\u696d\u7b49\u3092\u884c\u3046\u8b72\u53d7\u4f01\u696d\u306e\u30a2\u30af\u30b7\u30e7\u30f3\u304c<a href=\"https:\/\/mitsukijapan.com\/ma\/column\/what-is-due-diligence\/\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-arkb-anchor-color\">\u30c7\u30e5\u30fc\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9<\/mark><\/a>\uff08\u8cb7\u53ce\u8abf\u67fb\uff09\u3067\u3059\u3002\u3069\u306e\u7a0b\u5ea6\u8a73\u3057\u3044\u8abf\u67fb\u306b\u306a\u308b\u304b\u306f\u30b1\u30fc\u30b9\u30d0\u30a4\u30b1\u30fc\u30b9\u3067\u3059\u304c\u3001\u4e2d\u5c0f\u4f01\u696d\u306eM&amp;A\u3067\u306f\u3001\u7c21\u7d20\u306a\u8abf\u67fb\u306b\u3068\u3069\u307e\u308b\u3053\u3068\u3082\u5c11\u306a\u304f\u3042\u308a\u307e\u305b\u3093\u3002<br>\u30c7\u30e5\u30fc\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u304c\u7d42\u308f\u308b\u3068\u3001\u8b72\u53d7\u4f01\u696d\u3068\u306e\u6700\u7d42\u7684\u306a\u6761\u4ef6\u4ea4\u6e09\u3092\u7d4c\u3066\u3001<a href=\"https:\/\/mitsukijapan.com\/ma\/column\/ma-da-final-contract-basic-contents-notes\/\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-arkb-anchor-color\">\u6700\u7d42\u5951\u7d04<\/mark><\/a>\uff08\u682a\u5f0f\u8b72\u6e21\u5951\u7d04\u306a\u3069\uff09\u306e\u7de0\u7d50\u3068\u8b72\u6e21\u5b9f\u884c\uff08\u30af\u30ed\u30fc\u30b8\u30f3\u30b0\uff09\u3092\u8fce\u3048\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u8b72\u53d7\u4f01\u696d\u306e\u8996\u70b9\u3067\u306f\u3001\u300c\u9ad8\u3044\u8cb7\u3044\u7269\u300d\u3068\u306a\u308b\u3053\u3068\u306f\u907f\u3051\u305f\u3044\u5b9f\u8cea\u8ad6\u3068\u306f\u5225\u306b\u3001\u5229\u5bb3\u95a2\u4fc2\u8005\u306b\u8aac\u660e\u304c\u4ed8\u304f\u8cb7\u53ce\u4fa1\u683c\u3067\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u4e8b\u60c5\u304c\u3042\u308a\u307e\u3059\u3002\u53d6\u5f15\u9280\u884c\u3084\u3001\u4e0a\u5834\u4f01\u696d\u3067\u3042\u308c\u3070\u793e\u5916\u5f79\u54e1\u30fb\u76e3\u67fb\u5f79\u30fb\u76e3\u67fb\u6cd5\u4eba\u30fb\u4e00\u822c\u682a\u4e3b\u3067\u3059\u3002\u6295\u8cc7\u59d4\u54e1\u4f1a\u3092\u8a2d\u7f6e\u3057\u3066\u3044\u308b\u4e0a\u5834\u4f1a\u793e\u306a\u3089\u3001\u305d\u3053\u3067\u306e\u627f\u8a8d\u3082\u5fc5\u8981\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"has-luminous-vivid-orange-color has-text-color has-link-color wp-elements-fe9c0cd4de3d41ec05976b7d8098e7cb\"><a href=\"https:\/\/mitsukijapan.com\/ma\/valuations\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u767b\u9332\u4e0d\u8981\u30fb\u7121\u6599\u306e\u7c21\u6613\u4f01\u696d\u8a55\u4fa1\u3092\u3059\u308b<\/a><\/p>\n\n\n\n<h2 id=\"arkb-toc-4\" class=\"wp-block-heading\">\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\u306e\u65b9\u6cd5\uff08\u6982\u8981\uff09<\/h2>\n\n\n\n<p>M&amp;A\u306b\u304a\u3051\u308b\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u3068\u306f\u3001\u8cc7\u7523\u30fb\u8ca0\u50b5\u306e\u6642\u4fa1\u8a55\u4fa1\u3001\u53ce\u76ca\u6027\u3001\u6280\u8853\u529b\u306a\u3069\u69d8\u3005\u306a\u8981\u7d20\u3092\u691c\u8a0e\u3057\u3001\u8b72\u6e21\u4f01\u696d\u306e\u682a\u5f0f\u4fa1\u5024\u3092\u7b97\u5b9a\u3059\u308b\u624b\u7d9a\u3067\u3059\u3002\u8a55\u4fa1\u306f\u76ee\u7684\u3084\u7acb\u5834\uff08\u8b72\u6e21\u5074\u30fb\u8b72\u53d7\u5074\uff09\u306b\u3088\u3063\u3066\u7570\u306a\u308b\u305f\u3081\u3001\u516c\u5e73\u6027\u3092\u4fdd\u3064\u305f\u3081\u306b\u7b2c\u4e09\u8005\u6a5f\u95a2\u3078\u4f9d\u983c\u3059\u308b\u306e\u304c\u4e00\u822c\u7684\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"has-arkb-anchor-color has-text-color has-link-color wp-elements-45103561375bc7c35685a2b29f3482ea\">\u25b7\u95a2\u9023\uff1a<a href=\"https:\/\/mitsukijapan.com\/ma\/column\/valuation\/\">\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u3068\u306f\uff1f\uff5c\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\u306e\u8a08\u7b97\u65b9\u6cd5\u30fbM&amp;A\u682a\u4fa1\u306e\u610f\u5473<\/a><\/p>\n\n\n\n<h3 id=\"arkb-toc-5\" class=\"wp-block-heading\">\u4f01\u696d\u4fa1\u5024\u3092\u9069\u6b63\u306b\u7b97\u5b9a\u3059\u308b\u91cd\u8981\u6027<\/h3>\n\n\n\n<p>M&amp;A\u306f\u53d6\u5f15\u91d1\u984d\u306b\u53cc\u65b9\u304c\u5408\u610f\u3057\u306a\u3051\u308c\u3070\u6210\u7d04\u3057\u307e\u305b\u3093\u3002\u4e21\u8005\u304c\u7d0d\u5f97\u3067\u304d\u308b\u9069\u6b63\u304b\u3064\u516c\u5e73\u306a\u8a55\u4fa1\u304c\u3001M&amp;A\u6210\u529f\u306e\u9375\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u8b72\u6e21\u5074\u306b\u3068\u3063\u3066\u306e\u91cd\u8981\u6027<\/strong>\uff1a\u3067\u304d\u308b\u3060\u3051\u9ad8\u304f\u8b72\u6e21\u3057\u305f\u3044\u3068\u8003\u3048\u304c\u3061\u3067\u3059\u304c\u3001\u5b9f\u614b\u3068\u304b\u3051\u96e2\u308c\u305f\u5e0c\u671b\u4fa1\u683c\u3067\u306f\u8cb7\u3044\u624b\u304c\u898b\u3064\u304b\u308a\u307e\u305b\u3093\u3002\u5c02\u9580\u5bb6\u306b\u7b97\u5b9a\u3092\u4f9d\u983c\u3057\u3001\u8b72\u6e21\u306e\u6700\u4f4e\u30e9\u30a4\u30f3\u306e\u76ee\u5b89\u3092\u6c7a\u3081\u3066\u304a\u304f\u3053\u3068\u3067\u3001\u30b9\u30e0\u30fc\u30ba\u306a\u4ea4\u6e09\u304c\u53ef\u80fd\u306b\u306a\u308a\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u8b72\u53d7\u5074\u306b\u3068\u3063\u3066\u306e\u91cd\u8981\u6027<\/strong>\uff1a\u5b89\u304f\u8cb7\u3044\u305f\u3044\u4e00\u65b9\u3067\u3001\u76f8\u5834\u3092\u7121\u8996\u3057\u305f\u91d1\u984d\u306b\u56fa\u57f7\u3059\u308b\u3068\u3001\u7af6\u5408\u4ed6\u793e\u306b\u5148\u3092\u8d8a\u3055\u308c\u308b\u30ea\u30b9\u30af\u304c\u3042\u308a\u307e\u3059\u3002\u307e\u305f\u3001\u7c3f\u5916\u50b5\u52d9\u306a\u3069\u306e\u30ea\u30b9\u30af\u3092\u4e8b\u524d\u306b\u691c\u8a3c\u3057\u3001\u8a55\u4fa1\u306b\u7e54\u308a\u8fbc\u3080\u3053\u3068\u3067\u3001\u8b72\u53d7\u5f8c\u306e\u30c8\u30e9\u30d6\u30eb\u3092\u56de\u907f\u3067\u304d\u307e\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<p>\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\uff08\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\uff09\u306b\u306f\u8907\u6570\u306e\u8003\u3048\u65b9\u304c\u3042\u308a\u3001\u76ee\u7684\uff08\u58f2\u5374\u30fb\u8cb7\u53ce\u306e\u610f\u601d\u6c7a\u5b9a\u3001\u4fa1\u683c\u4ea4\u6e09\uff09\u3084\u4f01\u696d\u306e\u72b6\u6cc1\uff08\u53ce\u76ca\u6027\u3001\u6210\u9577\u6027\u3001\u8cc7\u7523\u69cb\u6210\u3001\u696d\u7a2e\uff09\u306b\u5fdc\u3058\u3066\u3001\u5358\u4e00\u624b\u6cd5\u3067\u306f\u306a\u304f\u8907\u6570\u624b\u6cd5\u3092\u4f75\u7528\u3057\u3066\u30ec\u30f3\u30b8\uff08\u5e45\uff09\u3067\u691c\u8a0e\u3059\u308b\u306e\u304c\u4e00\u822c\u7684\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"has-arkb-anchor-color has-text-color has-link-color wp-elements-28dbd51ca6bd03821c58bd501450da81\">\u25b7\u95a2\u9023\uff1a<a href=\"https:\/\/mitsukijapan.com\/ma\/column\/enterprise-value\/\">\u4f01\u696d\u4fa1\u5024\u3068\u306f\uff5cEV\u30fb\u4e8b\u696d\u4fa1\u5024\u30fb\u682a\u5f0f\u4fa1\u5024\u3068\u306e\u9055\u3044\u3001\uff13\u3064\u306e\u8a55\u4fa1\u65b9\u6cd5<\/a><\/p>\n\n\n\n<h3 id=\"arkb-toc-6\" class=\"wp-block-heading\">\u4ee3\u8868\u7684\u306a\uff13\u3064\u306e\u8a55\u4fa1\u30a2\u30d7\u30ed\u30fc\u30c1<\/h3>\n\n\n\n<p>M&amp;A\u306e\u5b9f\u52d9\u3067\u306f\u3001\u4ee5\u4e0b\u306e3\u3064\u306e\u30a2\u30d7\u30ed\u30fc\u30c1\u304c\u57fa\u790e\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">\u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\uff08\u5c06\u6765\u306e\u53ce\u76ca\u30fb\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306b\u57fa\u3065\u304f\uff09<\/h4>\n\n\n\n<p>\u5c06\u6765\u306e\u5229\u76ca\u3084\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u898b\u7a4d\u3082\u308a\u3001\u73fe\u5728\u4fa1\u5024\u306b\u5272\u308a\u5f15\u3044\u3066\u4f01\u696d\u4fa1\u5024\u3092\u7b97\u5b9a\u3057\u307e\u3059\uff08\u4ee3\u8868\u4f8b\uff1a\u30c7\u30a3\u30b9\u30ab\u30a6\u30f3\u30c6\u30c3\u30c9\u30fb\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u6cd5\uff08Discounted Cash Flow method\u3001DCF\u6cd5\uff09\uff09\u3002<br>\u8a73\u7d30\uff1a\u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\u306e\u89e3\u8aac\uff08\/ma\/column\/income-approach\/\uff09<\/p>\n\n\n\n<p class=\"has-arkb-anchor-color has-text-color has-link-color wp-elements-b4d8dcc78f8406e85af1c097256ca684\">\u25b7\u95a2\u9023\uff1a<a href=\"https:\/\/mitsukijapan.com\/ma\/column\/income-approach\/\">\u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\u3068\u306f\uff1f\u7a2e\u985e\u30fb\u8a08\u7b97\u65b9\u6cd5\u30fb\u30e1\u30ea\u30c3\u30c8\u3068\u30c7\u30e1\u30ea\u30c3\u30c8<\/a><\/p>\n\n\n\n<h4 class=\"wp-block-heading\">\u30de\u30fc\u30b1\u30c3\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\uff08\u5e02\u5834\u3067\u306e\u985e\u4f3c\u4e8b\u4f8b\u306b\u57fa\u3065\u304f\uff09<\/h4>\n\n\n\n<p>\u985e\u4f3c\u4e0a\u5834\u4f01\u696d\u306e\u682a\u4fa1\u500d\u7387\uff08\u30de\u30eb\u30c1\u30d7\u30eb\uff09\u3084\u3001\u985e\u4f3cM&amp;A\u53d6\u5f15\u4e8b\u4f8b\u306e\u500d\u7387\u3092\u53c2\u7167\u3057\u3066\u4f01\u696d\u4fa1\u5024\u3092\u63a8\u5b9a\u3057\u307e\u3059\uff08\u4ee3\u8868\u4f8b\uff1a\u985e\u4f3c\u4f1a\u793e\u6bd4\u8f03\u6cd5\uff08\u30de\u30eb\u30c1\u30d7\u30eb\u6cd5\uff09\uff09\u3002<br>\u8a73\u7d30\uff1a\u30de\u30fc\u30b1\u30c3\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\u306e\u89e3\u8aac\uff08\/ma\/column\/market-approach\/\uff09<\/p>\n\n\n\n<p class=\"has-arkb-anchor-color has-text-color has-link-color wp-elements-6bb5d9027244f8c5cbe7b02208f187a0\">\u25b7\u95a2\u9023\uff1a<a href=\"https:\/\/mitsukijapan.com\/ma\/column\/market-approach\/\">\u30de\u30fc\u30b1\u30c3\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\u3068\u306f\uff1f\u7a2e\u985e\u30fb\u8a08\u7b97\u65b9\u6cd5\u30fb\u30e1\u30ea\u30c3\u30c8\u3068\u30c7\u30e1\u30ea\u30c3\u30c8<\/a><\/p>\n\n\n\n<h4 class=\"wp-block-heading\">\u30b3\u30b9\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\uff08\u8cc7\u7523\u30fb\u8ca0\u50b5\u306e\u7a4d\u307f\u4e0a\u3052\u306b\u57fa\u3065\u304f\uff09<\/h4>\n\n\n\n<p>\u8cb8\u501f\u5bfe\u7167\u8868\uff08\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\uff09\u3092\u57fa\u790e\u306b\u3001\u8cc7\u7523\u30fb\u8ca0\u50b5\u3092\u6642\u4fa1\u8a55\u4fa1\uff08\u4fee\u6b63\uff09\u3057\u3066\u7d14\u8cc7\u7523\u3092\u7b97\u5b9a\u3057\u3001\u4f01\u696d\u4fa1\u5024\u306e\u76ee\u5b89\u3068\u3057\u307e\u3059\uff08\u4ee3\u8868\u4f8b\uff1a\u6642\u4fa1\u7d14\u8cc7\u7523\u6cd5\uff09\u3002<br>\u8a73\u7d30\uff1a\u30b3\u30b9\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\u306e\u89e3\u8aac\uff08\/ma\/column\/cost-approach\/\uff09<\/p>\n\n\n\n<p class=\"has-arkb-anchor-color has-text-color has-link-color wp-elements-ac60c62129d68ea6962fbb26e2bc7ff3\">\u25b7\u95a2\u9023\uff1a<a href=\"https:\/\/mitsukijapan.com\/ma\/column\/cost-approach\/\">\u30b3\u30b9\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\u3068\u306f\uff1f\u7a2e\u985e\u30fb\u8a08\u7b97\u65b9\u6cd5\u30fb\u30e1\u30ea\u30c3\u30c8\u3068\u30c7\u30e1\u30ea\u30c3\u30c8<\/a><\/p>\n\n\n\n<p>\u203b\u4e0a\u8a18\u306e\u3069\u308c\u304c\u300c\u6b63\u89e3\u300d\u3068\u3044\u3046\u3088\u308a\u3001\u4f1a\u793e\u306e\u5b9f\u614b\uff08\u53ce\u76ca\u306e\u5b89\u5b9a\u6027\u3001\u5c06\u6765\u6210\u9577\u3001\u7c3f\u5916\u8cc7\u7523\u30fb\u7c3f\u5916\u50b5\u52d9\u306e\u6709\u7121\u3001\u306e\u308c\u3093\u306e\u59a5\u5f53\u6027\uff09\u3068\u4ea4\u6e09\u72b6\u6cc1\u306b\u5fdc\u3058\u3066\u3001\u5404\u30a2\u30d7\u30ed\u30fc\u30c1\u306e\u7d50\u679c\u3092\u7a81\u304d\u5408\u308f\u305b\u3066\u59a5\u5f53\u306a\u8a55\u4fa1\u30ec\u30f3\u30b8\u3092\u4f5c\u308b\u3053\u3068\u304c\u91cd\u8981\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"has-luminous-vivid-orange-color has-text-color has-link-color wp-elements-03e39b45cfbadf1a445b13d6219067a7\"><a href=\"https:\/\/mitsukijapan.com\/ma\/valuations\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u4f01\u696d\u4fa1\u5024\u3092\u7121\u6599\u3067\u30b7\u30df\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u3059\u308b \uff1e<\/a><\/p>\n\n\n\n<h3 id=\"arkb-toc-7\" class=\"wp-block-heading\">\u4e2d\u5c0f\u4f01\u696dM&amp;A\u306b\u9069\u3057\u305f\u8a55\u4fa1\u624b\u6cd5<\/h3>\n\n\n\n<p>\u4e2d\u5c0f\u4f01\u696d\u306eM&amp;A\u3067\u306f\u3001\u30b3\u30b9\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\u306e\u300c\u6642\u4fa1\u7d14\u8cc7\u7523\uff0b\u55b6\u696d\u6a29\u6cd5\u300d\u304c\u6700\u3082\u591a\u304f\u7528\u3044\u3089\u308c\u307e\u3059\u3002\u3053\u308c\u306f\u3001\u975e\u4e0a\u5834\u306e\u305f\u3081\u5e02\u5834\u682a\u4fa1\u304c\u306a\u304f\u3001\u4e8b\u696d\u8a08\u753b\u306e\u30d6\u30ec\u5e45\u3082\u5927\u304d\u3044\u305f\u3081\u3001\u904e\u53bb\u306e\u5b9f\u7e3e\u306b\u57fa\u3065\u304f\u7d14\u8cc7\u7523\u3092\u30d9\u30fc\u30b9\u306b\u3059\u308b\u65b9\u304c\u4fe1\u983c\u6027\u304c\u9ad8\u3044\u305f\u3081\u3067\u3059\u3002\u305d\u3053\u306b\u5c06\u6765\u306e\u53ce\u76ca\u529b\uff08\u55b6\u696d\u6a29\uff09\u3092\u52a0\u7b97\u3059\u308b\u3053\u3068\u3067\u3001\u5b9f\u614b\u306b\u5373\u3057\u305f\u8a55\u4fa1\u304c\u53ef\u80fd\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\u306e\u30dd\u30a4\u30f3\u30c8<\/h4>\n\n\n\n<p>\u8b72\u6e21\u5074\u3068\u8b72\u53d7\u5074\u306f\u5229\u76ca\u76f8\u53cd\u306e\u95a2\u4fc2\u306b\u3042\u308a\u307e\u3059\u304c\u3001\u8a55\u4fa1\u624b\u6cd5\u3092\u5171\u901a\u8a00\u8a9e\u3068\u3057\u3066\u6b69\u307f\u5bc4\u308b\u3053\u3068\u304c\u91cd\u8981\u3067\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u8b72\u6e21\u5074\u306e\u30dd\u30a4\u30f3\u30c8<\/strong>\uff1a\u9ad8\u3044\u8a55\u4fa1\u3092\u5f97\u308b\u305f\u3081\u306b\u306f\u3001\u53ce\u76ca\u6027\u3092\u9ad8\u3081\u3001\u5185\u90e8\u7559\u4fdd\uff08\u7d14\u8cc7\u7523\uff09\u3092\u7a4d\u307f\u4e0a\u3052\u308b\u3053\u3068\u304c\u57fa\u672c\u3067\u3059\u3002\u542b\u307f\u76ca\u306e\u3042\u308b\u4e0d\u52d5\u7523\u3084\u6709\u4fa1\u8a3c\u5238\u3082\u30d7\u30e9\u30b9\u8a55\u4fa1\u306e\u8981\u7d20\u3068\u306a\u308a\u307e\u3059\u3002M&amp;A\u691c\u8a0e\u4e2d\u3082\u672c\u696d\u306b\u6ce8\u529b\u3057\u3001\u696d\u7e3e\u3092\u7dad\u6301\u3059\u308b\u3053\u3068\u304c\u9ad8\u5024\u58f2\u5374\u3078\u306e\u8fd1\u9053\u3067\u3059\u3002<\/li>\n\n\n\n<li><strong>\u8b72\u53d7\u5074\u306e\u30dd\u30a4\u30f3\u30c8<\/strong>\uff1a\u4e88\u7b97\u5185\u306b\u53ce\u307e\u308b\u3053\u3068\u304c\u7406\u60f3\u3067\u3059\u304c\u3001\u30b7\u30ca\u30b8\u30fc\u52b9\u679c\u304c\u5927\u304d\u3044\u5834\u5408\u306f\u4e88\u7b97\u8d85\u904e\u3067\u3082\u691c\u8a0e\u306e\u4f59\u5730\u304c\u3042\u308a\u307e\u3059\u3002\u307e\u305f\u3001\u8b72\u6e21\u4f01\u696d\u306e\u73fe\u9810\u91d1\u304c\u6f64\u6ca2\u306a\u5834\u5408\u3001\u5f79\u54e1\u9000\u8077\u91d1\u306e\u652f\u7d66\u306b\u3088\u3063\u3066\u7d14\u8cc7\u7523\u3092\u5727\u7e2e\u3057\u3001\u8b72\u6e21\u4fa1\u683c\u3092\u5f15\u304d\u4e0b\u3052\u308b\u30b9\u30ad\u30fc\u30e0\u3082\u6709\u52b9\u3067\u3059\u3002\u30ea\u30b9\u30af\u7cbe\u67fb\u3068\u30b7\u30ca\u30b8\u30fc\u691c\u8a3c\u3092\u4e21\u8f2a\u3067\u9032\u3081\u308b\u59ff\u52e2\u304c\u6c42\u3081\u3089\u308c\u307e\u3059\u3002<a href=\"https:\/\/www.bk.mufg.jp\/soudan\/shisan\/lp\/column\/20.html\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a>\u200b<\/li>\n<\/ul>\n\n\n\n<p class=\"has-luminous-vivid-orange-color has-text-color has-link-color wp-elements-fe9c0cd4de3d41ec05976b7d8098e7cb\"><a href=\"https:\/\/mitsukijapan.com\/ma\/valuations\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u767b\u9332\u4e0d\u8981\u30fb\u7121\u6599\u306e\u7c21\u6613\u4f01\u696d\u8a55\u4fa1\u3092\u3059\u308b<\/a><\/p>\n\n\n\n<h2 id=\"arkb-toc-8\" class=\"wp-block-heading\">\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\u306b\u9577\u3051\u305fM&amp;A\u4ef2\u4ecb\u4f1a\u793e\u306e\u9078\u3073\u65b9<\/h2>\n\n\n\n<p>\u8b72\u6e21\u5074\u30fb\u8b72\u53d7\u5074\u4e21\u8005\u306b\u3068\u3063\u3066M&amp;A\u53d6\u5f15\u91d1\u984d\u306f\u3001M&amp;A\u306e\u6210\u5426\u3092\u5de6\u53f3\u3059\u308b\u5927\u304d\u306a\u8981\u56e0\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u3057\u304b\u3057\u3001M&amp;A\u53d6\u5f15\u91d1\u984d\u3092\u6c7a\u5b9a\u3059\u308b\u70ba\u306e\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\uff08\u4f01\u696d\u4fa1\u5024\u7b97\u5b9a\uff09\u306f\u3001\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u7406\u8ad6\u3084\u4f1a\u8a08\u7a0e\u52d9\u7406\u8ad6\u306a\u3069\u306b\u7cbe\u901a\u3057\u3066\u3044\u306a\u3051\u308c\u3070\u9069\u6b63\u306a\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\uff08\u4f01\u696d\u4fa1\u5024\u7b97\u5b9a\uff09\u3092\u884c\u3046\u3053\u3068\u306f\u96e3\u3057\u3044\u305f\u3081\u3001M&amp;A\u306b\u7cbe\u901a\u3057\u305f\u516c\u8a8d\u4f1a\u8a08\u58eb\u3084\u7a0e\u7406\u58eb\u3068\u3044\u3063\u305f\u5c02\u9580\u5bb6\u304c\u3044\u308b<a href=\"https:\/\/mitsukijapan.com\/ma\/column\/ma-intermediary\/\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-arkb-anchor-color\">M&amp;A\u4ef2\u4ecb\u4f1a\u793e<\/mark><\/a>\u3092\u9078\u3076\u3053\u3068\u3092\u304a\u52e7\u3081\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-9d6595d7 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/mitsukijapan.com\/ma\/valuations\/\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" width=\"400\" height=\"300\" src=\"https:\/\/mitsukijapan.com\/ma\/wp-content\/uploads\/Frame-4.jpg\" alt=\"\" class=\"wp-image-3067\"\/><\/a><\/figure>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\">\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/mitsukijapan.com\/ma\/lp\/01\/\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" width=\"400\" height=\"300\" src=\"https:\/\/mitsukijapan.com\/ma\/wp-content\/uploads\/Frame-3.jpg\" alt=\"\" class=\"wp-image-3068\"\/><\/a><\/figure>\n<\/div>\n<\/div>\n\n\n\n<h2 id=\"arkb-toc-9\" class=\"wp-block-heading\">\u307e\u3068\u3081\uff5c\u3044\u3064\u4f01\u696d\u4fa1\u5024\u3092\u8a55\u4fa1\u3059\u308b\uff1f<\/h2>\n\n\n\n<p>\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\u306f\u3001M&amp;A\u306e\u691c\u8a0e\u521d\u671f\u3001\u57fa\u672c\u5408\u610f\u3001\u30c7\u30e5\u30fc\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u5f8c\u306e\u5404\u6bb5\u968e\u3067\u5b9f\u65bd\u3055\u308c\u3001\u53d6\u5f15\u91d1\u984d\u6c7a\u5b9a\u306e\u91cd\u8981\u306a\u6839\u62e0\u3068\u306a\u308a\u307e\u3059\u3002\u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\u3001\u30de\u30fc\u30b1\u30c3\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\u3001\u30b3\u30b9\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\u306e3\u3064\u304c\u3042\u308a\u3001\u4e2d\u5c0f\u4f01\u696d\u3067\u306f\u6642\u4fa1\u7d14\u8cc7\u7523\uff0b\u55b6\u696d\u6a29\u6cd5\u304c\u591a\u304f\u7528\u3044\u3089\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u307f\u3064\u304d\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u306f\u3001\u4f1a\u8a08\u7cfbM&amp;A\u4ef2\u4ecb\u4f1a\u793e\u3068\u3057\u3066\u3001\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u7406\u8ad6\u3084\u4f1a\u8a08\u7a0e\u52d9\u306b\u7cbe\u901a\u3057\u305f\u516c\u8a8d\u4f1a\u8a08\u58eb\u304c\u5728\u7c4d\u3057\u3001\u9069\u6b63\u306a\u4f01\u696d\u4fa1\u5024\u7b97\u5b9a\u3092\u5b9f\u65bd\u3067\u304d\u307e\u3059\u3002M&amp;A\u3092\u3054\u691c\u8a0e\u306e\u65b9\u306f\u3001\u305c\u3072\u304a\u6c17\u8efd\u306b\u3054\u76f8\u8ac7\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n\n<p class=\"has-arkb-anchor-color has-text-color has-link-color wp-elements-35d6ba0785dbc0629f8ad4f810c4ee46\"><a href=\"https:\/\/mitsukijapan.com\/ma\/lp\/01\/\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-arkb-anchor-color\">\u5b8c\u5168\u6210\u529f\u5831\u916c\u306eM&amp;A\u4ef2\u4ecb\u4f1a\u793e\u306a\u3089\u3001\u307f\u3064\u304d\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u3078 \uff1e<\/mark><\/a><\/p>\n\n\n<div class=\"cta-btns\">\n    <div class=\"contact-btn\">\n        <div class=\"micro-copy\">\u3054\u8b72\u6e21\u3092\u691c\u8a0e\u3055\u308c\u308b\u65b9<\/div>\n        <a href=\"\/ma\/contact\/\">\u4eca\u3059\u3050\u7121\u6599\u76f8\u8ac7\u3059\u308b<\/a>\n    <\/div>\n    <div>\n        <div class=\"download-btn\">\n            <div class=\"micro-copy\">M&#038;A\u306e\u91cd\u8981\u30dd\u30a4\u30f3\u30c8\u8cc7\u6599<\/div>\n            <a href=\"\/ma\/document-request\/\">\u7121\u6599\u3067\u30c0\u30a6\u30f3\u30ed\u30fc\u30c9\u3059\u308b<\/a>\n        <\/div>\n    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