{"id":2166,"date":"2026-06-11T10:03:48","date_gmt":"2026-06-11T01:03:48","guid":{"rendered":"https:\/\/mitsukijapan.com\/ma\/?post_type=column&#038;p=2166"},"modified":"2026-06-13T11:30:18","modified_gmt":"2026-06-13T02:30:18","slug":"per-ma-valuation","status":"publish","type":"column","link":"https:\/\/mitsukijapan.com\/ma\/column\/per-ma-valuation\/","title":{"rendered":"PER\u3068M&amp;A\u306e\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\uff5c\u682a\u4fa1\u53ce\u76ca\u7387\u3068\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\u306e\u4f7f\u3044\u65b9"},"content":{"rendered":"\n<p 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size-full\"><a href=\"https:\/\/mitsukijapan.com\/ma\/valuations\/\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" width=\"450\" height=\"250\" src=\"https:\/\/mitsukijapan.com\/ma\/wp-content\/uploads\/Frame-20-3.jpg\" alt=\"\" class=\"wp-image-4081\"\/><\/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=\"450\" height=\"250\" src=\"https:\/\/mitsukijapan.com\/ma\/wp-content\/uploads\/Frame-19-2.jpg\" alt=\"\" class=\"wp-image-4082\"\/><\/a><\/figure>\n<\/div>\n<\/div>\n\n\n<div class=\"ark-block-toc\">\n\t\t<div class=\"ark-block-toc__title\">\u76ee\u6b21<\/div>\n\t\t<ol class=\"ark-block-toc__list\" data-level=\"2\"><li><a href=\"#arkb-toc-0\" 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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\">M&amp;A\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u3067PER\u3092\u3069\u3046\u4f7f\u3046\u304b<\/h2>\n\n\n\n<p 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style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-arkb-anchor-color\">\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\u306e\u5168\u4f53\u50cf<\/mark><\/a>\u306e\u3046\u3061\u3001\u4e0a\u5834\u682a\u4fa1\u3092\u624b\u639b\u304b\u308a\u306b\u3059\u308b<a href=\"https:\/\/mitsukijapan.com\/ma\/column\/market-approach\/\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-arkb-anchor-color\">\u30de\u30fc\u30b1\u30c3\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\u306e\u8003\u3048\u65b9<\/mark><\/a>\u306b\u4f4d\u7f6e\u3065\u304f\u5185\u5bb9\u3067\u3059\u3002<\/p>\n\n\n\n<h3 id=\"arkb-toc-1\" class=\"wp-block-heading\">PER\u306f\u682a\u5f0f\u4fa1\u5024\u3092\u76f4\u63a5\u306f\u3058\u304d\u51fa\u3059\u500d\u7387<\/h3>\n\n\n\n<p 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class=\"wp-block-paragraph\">PER\u306f\u5229\u606f\u3092\u6255\u3063\u305f\u5f8c\u306e\u5229\u76ca\u3092\u30d9\u30fc\u30b9\u306b\u3059\u308b\u305f\u3081\u3001\u501f\u5165\u306e\u591a\u5be1\u3068\u3044\u3046\u8ca1\u52d9\u69cb\u6210\u306e\u5dee\u3092\u305d\u306e\u307e\u307e\u98f2\u307f\u8fbc\u307f\u307e\u3059\u3002\u7121\u501f\u91d1\u306e\u4f1a\u793e\u3068\u501f\u5165\u306e\u91cd\u3044\u4f1a\u793e\u3092\u540c\u3058\u500d\u7387\u3067\u4e26\u3079\u308b\u3068\u3001\u8a55\u4fa1\u304c\u6b6a\u3080\u3002\u672c\u696d\u306e\u7a3c\u3050\u529b\u3092\u8cc7\u672c\u69cb\u6210\u304b\u3089\u5207\u308a\u96e2\u3057\u3066\u6e2c\u308a\u305f\u3044\u5c40\u9762\u3067\u306f\u3001\u3053\u3053\u306f\u81f4\u547d\u50b7\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u305d\u3053\u3067\u73fe\u5834\u306e\u4e3b\u5f79\u306b\u306a\u308b\u306e\u304c\u3001\u8ca0\u50b5\u306e\u5f71\u97ff\u3092\u5916\u3057\u3066\u6bd4\u8f03\u3067\u304d\u308b<a href=\"https:\/\/mitsukijapan.com\/ma\/column\/what-is-ev-ebitda-multiple\/\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-arkb-anchor-color\">EV\/EBITDA\u500d\u7387<\/mark><\/a>\u3067\u3059\u3002\u3068\u306f\u3044\u3048PER\u304c\u4e0d\u8981\u306a\u308f\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u501f\u5165\u304c\u8efd\u304f\u5229\u76ca\u306e\u5b89\u5b9a\u3057\u305f\u30b5\u30fc\u30d3\u30b9\u696d\u306e\u3088\u3046\u306a\u696d\u7a2e\u3067\u306f\u3001\u682a\u4e3b\u30ea\u30bf\u30fc\u30f3\u3092\u7d20\u76f4\u306b\u6620\u3059PER\u304c\u76f4\u611f\u7684\u306b\u52b9\u304d\u307e\u3059\u3002\u51fa\u756a\u3092\u9078\u3079\u3070\u4f7f\u3048\u308b\u6307\u6a19\u3067\u3059\u3002<\/p>\n\n\n\n<h3 id=\"arkb-toc-3\" class=\"wp-block-heading\">\u7b97\u5b9a\u306e\u624b\u9806\u306f\u5229\u76ca\u306e\u5f15\u304d\u76f4\u3057\u304b\u3089\u59cb\u307e\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u8a08\u7b97\u5f0f\u305d\u306e\u3082\u306e\u306f\u5358\u7d14\u3067\u3082\u3001\u4e2d\u5c0f\u4f01\u696d\u306b\u5f53\u3066\u306f\u3081\u308b\u524d\u306b\u3072\u3068\u624b\u9593\u304b\u304b\u308a\u307e\u3059\u3002\u985e\u4f3c\u3059\u308b\u4e0a\u5834\u4f01\u696d\u3092\u9078\u3073\u3001\u305d\u306e\u682a\u5f0f\u6642\u4fa1\u7dcf\u984d\u3092\u5f53\u671f\u7d14\u5229\u76ca\u3067\u5272\u3063\u3066\u5404\u793e\u306ePER\u3092\u6c42\u3081\u3001\u5e73\u5747\u3084\u4e2d\u592e\u5024\u3092\u63a1\u308b\u3002\u305d\u3053\u3078\u5bfe\u8c61\u4f1a\u793e\u306e\u8abf\u6574\u5f8c\u7d14\u5229\u76ca\u3092\u639b\u3051\u3066\u682a\u5f0f\u4fa1\u5024\u306e\u76ee\u5b89\u3092\u51fa\u3059\u3001\u3068\u3044\u3046\u6d41\u308c\u3067\u3059\u3002<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">\u6b63\u5e38\u53ce\u76ca\u529b\u3078\u306e\u5f15\u304d\u76f4\u3057\u304c\u809d\u306b\u306a\u308b<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e2d\u5c0f\u4f01\u696d\u306e\u6c7a\u7b97\u66f8\u306b\u306f\u3001\u30aa\u30fc\u30ca\u30fc\u306e\u79c1\u7684\u7d4c\u8cbb\u3084\u904e\u5927\u306a\u5f79\u54e1\u5831\u916c\u3001\u751f\u547d\u4fdd\u967a\u3001\u4e00\u904e\u6027\u306e\u7279\u5225\u640d\u76ca\u304c\u7d1b\u308c\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u3089\u3092\u5f15\u304d\u76f4\u3057\u3066\u300c\u5e73\u6642\u306b\u3044\u304f\u3089\u7a3c\u3050\u4f1a\u793e\u304b\u300d\u3092\u51fa\u3055\u306a\u3044\u3068\u3001\u639b\u3051\u7b97\u306e\u571f\u53f0\u304c\u5d29\u58ca\u3002\u5f53\u793e\u306e\u652f\u63f4\u73fe\u5834\u3067\u3082\u3001\u5f79\u54e1\u5831\u916c\u306e\u9069\u6b63\u5316\u3068\u4fdd\u967a\u6599\u306e\u623b\u3057\u5165\u308c\u3060\u3051\u3067\u6b63\u5e38\u5229\u76ca\u50cf\u304c\u69d8\u5909\u308f\u308a\u3059\u308b\u4f8b\u306f\u73cd\u3057\u304f\u3042\u308a\u307e\u305b\u3093\u3002\u6559\u79d1\u66f8\u306b\u306f\u8f09\u308a\u306b\u304f\u3044\u3001\u5b9f\u52d9\u306e\u6700\u521d\u306e\u96e3\u6240\u3067\u3059\u3002<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">\u4eee\u306e\u6570\u5b57\u3067\u30ec\u30f3\u30b8\u3092\u8ffd\u3046<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">\u4eee\u306e\u6570\u5b57\u3067\u6d41\u308c\u3092\u8ffd\u3044\u307e\u3059\u3002\u3042\u308b\u30b5\u30fc\u30d3\u30b9\u696d\u306e\u5bfe\u8c61\u4f1a\u793e\u3067\u3001\u6b63\u5e38\u306a\u5f53\u671f\u7d14\u5229\u76ca\u304c5,000\u4e07\u5186\u3060\u3063\u305f\u3068\u3057\u307e\u3057\u3087\u3046\u3002\u985e\u4f3c\u3059\u308b\u4e0a\u5834\u4f01\u696d\u306e\u5e73\u5747PER\u304c12\u500d\u306a\u3089\u3001\u682a\u5f0f\u4fa1\u5024\u306e\u7d20\u306e\u76ee\u5b89\u306f6\u5104\u5186\u3002\u3053\u3053\u304b\u3089\u975e\u4e0a\u5834\u3086\u3048\u306e\u5272\u5f15\u30923\u5272\u304b\u3051\u308c\u3070\u7d044.2\u5104\u5186\u307e\u3067\u4e0b\u304c\u308a\u3001\u7d4c\u55b6\u6a29\u306e\u4e0a\u4e57\u305b\u3092\u898b\u8fbc\u3081\u3070\u518d\u3073\u5e45\u304c\u51fa\u307e\u3059\u3002\u4e00\u70b9\u306e\u6b63\u89e3\u3067\u306f\u306a\u304f\u3001\u30ec\u30f3\u30b8\u3067\u6349\u3048\u308b\u306e\u304c\u73fe\u5834\u306e\u611f\u899a\u3067\u3059\u3002<\/p>\n\n\n\n<h3 id=\"arkb-toc-4\" class=\"wp-block-heading\">\u6b63\u5e38\u53ce\u76ca\u529b\u306b\u5f15\u304d\u76f4\u3059\u3068\u304d\u306e\u78ba\u8a8d\u9805\u76ee<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u5229\u76ca\u3092\u5f15\u304d\u76f4\u3059\u4f5c\u696d\u3067\u3001\u5f53\u793e\u304c\u5fc5\u305a\u76ee\u3092\u901a\u3059\u9805\u76ee\u3092\u6319\u3052\u307e\u3059\u3002\u8b72\u6e21\u30aa\u30fc\u30ca\u30fc\u304c\u4e8b\u524d\u306b\u898b\u76f4\u3057\u3066\u304a\u304f\u3068\u3001\u4fa1\u683c\u306e\u8b70\u8ad6\u304c\u3076\u308c\u306b\u304f\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u30aa\u30fc\u30ca\u30fc\u3068\u5bb6\u65cf\u306e\u5f79\u54e1\u5831\u916c\u304c\u3001\u5f8c\u7d99\u4f53\u5236\u3067\u306e\u9069\u6b63\u6c34\u6e96\u3068\u3069\u308c\u3060\u3051\u96e2\u308c\u3066\u3044\u308b\u304b<\/li>\n\n\n\n<li>\u30aa\u30fc\u30ca\u30fc\u4e00\u65cf\u3078\u652f\u6255\u3046\u5730\u4ee3\u5bb6\u8cc3\u3084\u696d\u52d9\u59d4\u8a17\u8cbb\u306e\u6709\u7121\u3068\u3001\u305d\u306e\u6761\u4ef6\u306e\u59a5\u5f53\u6027<\/li>\n\n\n\n<li>\u7d4c\u55b6\u8005\u4fdd\u967a\u306e\u4fdd\u967a\u6599\u8ca0\u62c5\u3068\u3001\u89e3\u7d04\u8fd4\u623b\u91d1\u306e\u6271\u3044<\/li>\n\n\n\n<li>\u79c1\u7684\u306a\u4ea4\u969b\u8cbb\u3084\u8eca\u4e21\u8cbb\u3001\u65c5\u8cbb\u304c\u7d4c\u8cbb\u306b\u6df7\u3056\u3063\u3066\u3044\u306a\u3044\u304b<\/li>\n\n\n\n<li>\u6570\u5e74\u306b\u4e00\u5ea6\u306e\u7279\u5225\u640d\u76ca\u3084\u88dc\u52a9\u91d1\u53ce\u5165\u3068\u3044\u3063\u305f\u3001\u4e00\u904e\u6027\u306e\u9805\u76ee<\/li>\n\n\n\n<li>\u30b0\u30eb\u30fc\u30d7\u4f1a\u793e\u3068\u306e\u53d6\u5f15\u4fa1\u683c\u304c\u3001\u5e02\u5834\u306e\u6761\u4ef6\u304b\u3089\u305a\u308c\u3066\u3044\u306a\u3044\u304b<\/li>\n<\/ul>\n\n\n\n<h2 id=\"arkb-toc-5\" class=\"wp-block-heading\">\u4ed6\u306e\u8a55\u4fa1\u624b\u6cd5\u3068PER\u306e\u4f7f\u3044\u5206\u3051<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">PER\u306f\u5358\u72ec\u3067\u4f7f\u3046\u3088\u308a\u3001\u307b\u304b\u306e\u624b\u6cd5\u3068\u4e26\u3079\u3066\u521d\u3081\u3066\u5024\u6253\u3061\u304c\u51fa\u307e\u3059\u3002\u4f55\u3092\u51fa\u3059\u9053\u5177\u304b\u3092\u53d6\u308a\u9055\u3048\u308b\u3068\u3001\u8b70\u8ad6\u304c\u304b\u307f\u5408\u3044\u307e\u305b\u3093\u3002\u4e0b\u8868\u3067\u4e3b\u306a\u624b\u6cd5\u306e\u5f79\u5272\u3092\u6574\u7406\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table aligncenter is-style-stripes\"><table><thead><tr><th>\u624b\u6cd5<\/th><th>\u4f55\u3092\u51fa\u3059\u304b<\/th><th>\u5411\u304f\u5834\u9762<\/th><th>\u4e2d\u5c0fM&amp;A\u3067\u306e\u4f4d\u7f6e\u3065\u3051<\/th><\/tr><\/thead><tbody><tr><td><strong>PER\uff08\u682a\u4fa1\u53ce\u76ca\u7387\uff09<\/strong><\/td><td>\u682a\u5f0f\u4fa1\u5024<\/td><td>\u5229\u76ca\u304c\u5b89\u5b9a\u3057\u501f\u5165\u306e\u8efd\u3044\u4f1a\u793e<\/td><td>\u4e3b\u306b\u691c\u7b97\u7528\u3002\u5358\u72ec\u3067\u306f\u4f7f\u3044\u306b\u304f\u3044<\/td><\/tr><tr><td><strong>EV\/EBITDA\u500d\u7387<\/strong><\/td><td>\u4e8b\u696d\u4fa1\u5024<\/td><td>\u501f\u5165\u306e\u3042\u308b\u4f1a\u793e\u3069\u3046\u3057\u306e\u6bd4\u8f03<\/td><td>\u30de\u30fc\u30b1\u30c3\u30c8\u306e\u4e3b\u6307\u6a19\u3068\u3057\u3066\u5e83\u304f\u5229\u7528<\/td><\/tr><tr><td><strong>DCF\u6cd5<\/strong><\/td><td>\u4e8b\u696d\u4fa1\u5024<\/td><td>\u5c06\u6765\u8a08\u753b\u306b\u6839\u62e0\u304c\u3042\u308b\u4f1a\u793e<\/td><td>\u4e2d\u6838\u624b\u6cd5\u3002\u524d\u63d0\u6b21\u7b2c\u3067\u7d50\u679c\u304c\u632f\u308c\u308b<\/td><\/tr><tr><td><strong>\u6642\u4fa1\u7d14\u8cc7\u7523\u6cd5<\/strong><\/td><td>\u7d14\u8cc7\u7523\u30d9\u30fc\u30b9\u306e\u682a\u5f0f\u4fa1\u5024<\/td><td>\u8cc7\u7523\u304c\u539a\u3044\u4f1a\u793e\u3084\u8d64\u5b57\u306e\u4f1a\u793e<\/td><td>\u4e2d\u5c0f\u3067\u591a\u7528\u3002\u306e\u308c\u3093\u3092\u4e57\u305b\u3066\u8abf\u6574<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 id=\"arkb-toc-6\" class=\"wp-block-heading\">PER\u3068\u682a\u4fa1\u53ce\u76ca\u7387\u306e\u8a08\u7b97\u57fa\u790e\u3092\u304a\u3055\u3048\u308b<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">M&amp;A\u306e\u8a71\u306b\u5165\u308b\u524d\u306b\u3001\u6307\u6a19\u3068\u3057\u3066\u306e\u7d20\u6027\u3082\u77ed\u304f\u78ba\u8a8d\u3057\u3066\u304a\u304d\u307e\u3059\u3002\u6295\u8cc7\u306e\u6587\u8108\u3067\u899a\u3048\u305f\u77e5\u8b58\u3068\u3001\u8b72\u6e21\u4fa1\u683c\u3092\u8aad\u3080\u8996\u70b9\u306f\u5730\u7d9a\u304d\u3060\u304b\u3089\u3067\u3059\u3002<\/p>\n\n\n\n<h3 id=\"arkb-toc-7\" class=\"wp-block-heading\">\u8a08\u7b97\u5f0f\u3068EPS\u306e\u8003\u3048\u65b9<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">PER\u306f\u682a\u4fa1\u3092<a href=\"https:\/\/mitsukijapan.com\/ma\/column\/explains-how-to-use-eps-to-gain-insight-into-a-companys-true-value\/\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-arkb-anchor-color\">EPS\uff081\u682a\u5f53\u305f\u308a\u7d14\u5229\u76ca\uff09<\/mark><\/a>\u3067\u5272\u3063\u3066\u6c42\u3081\u307e\u3059\u3002\u682a\u4fa11,000\u5186\u3067EPS\u304c100\u5186\u306a\u308910\u500d\u3002\u3053\u306e\u500d\u7387\u306f\u3001\u3044\u307e\u306e\u5229\u76ca\u304c\u7d9a\u3051\u3070\u682a\u4fa1\u3076\u3093\u3092\u4f55\u5e74\u3067\u7a3c\u3050\u304b\u306e\u76ee\u5b89\u306b\u3082\u306a\u308a\u307e\u3059\u3002EPS\u81ea\u4f53\u306f\u5f53\u671f\u7d14\u5229\u76ca\u3092\u767a\u884c\u6e08\u682a\u5f0f\u7dcf\u6570\u3067\u5272\u3063\u305f\u5024\u3067\u3001\u682a\u5f0f\u5206\u5272\u3084\u65b0\u682a\u767a\u884c\u3067\u8584\u307e\u308b\u3068\u500d\u7387\u304c\u9ad8\u304f\u898b\u3048\u308b\u3002<\/p>\n\n\n\n<h3 id=\"arkb-toc-8\" class=\"wp-block-heading\">\u4e88\u60f3PER\u3068\u5b9f\u7e3ePER\u306e\u4f7f\u3044\u5206\u3051<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">PER\u306b\u306f\u3001\u6765\u671f\u306e\u5229\u76ca\u898b\u8fbc\u307f\u3092\u4f7f\u3046\u4e88\u60f3PER\u3068\u3001\u78ba\u5b9a\u3057\u305f\u5b9f\u7e3e\u5229\u76ca\u3092\u4f7f\u3046\u5b9f\u7e3ePER\u304c\u3042\u308a\u307e\u3059\u3002\u77ed\u671f\u306e\u682a\u5f0f\u58f2\u8cb7\u3067\u306f\u4e88\u60f3\u304c\u597d\u307e\u308c\u307e\u3059\u304c\u3001M&amp;A\u306e\u5834\u9762\u3067\u306f\u5b9f\u7e3e\u3068\u904e\u53bb\u5e73\u5747\u3092\u4f75\u7528\u3059\u308b\u306e\u304c\u5805\u5b9f\u3067\u3059\u3002\u5c06\u6765\u306e\u6570\u5b57\u306f\u4f5c\u308a\u8fbc\u307f\u3084\u3059\u304f\u3001\u8b72\u6e21\u30aa\u30fc\u30ca\u30fc\u5074\u306e\u8a08\u753b\u304c\u524d\u306e\u3081\u308a\u306b\u306a\u308a\u304c\u3061\u3060\u304b\u3089\u3067\u3059\u3002\u78ba\u5b9a\u5024\u3092\u571f\u53f0\u306b\u7f6e\u304f\u3068\u3001\u8b70\u8ad6\u304c\u3076\u308c\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<h3 id=\"arkb-toc-9\" class=\"wp-block-heading\">PBR\u3068\u306e\u9055\u3044\u3068\u7d44\u307f\u5408\u308f\u305b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">PER\u304c\u5229\u76ca\u306b\u5bfe\u3059\u308b\u500d\u7387\u306a\u306e\u306b\u5bfe\u3057\u3001PBR\uff08\u682a\u4fa1\u7d14\u8cc7\u7523\u500d\u7387\uff09\u306f\u7d14\u8cc7\u7523\u306b\u5bfe\u3059\u308b\u500d\u7387\u3067\u3059\u3002\u524d\u8005\u306f\u5c06\u6765\u306e\u53ce\u76ca\u671f\u5f85\u3001\u5f8c\u8005\u306f\u8cc7\u7523\u306e\u539a\u307f\u3092\u6620\u3057\u307e\u3059\u3002\u4e21\u65b9\u3092\u4e26\u3079\u308b\u3068\u3001\u5229\u76ca\u3082\u8cc7\u7523\u3082\u8a55\u4fa1\u3055\u308c\u308b\u4f1a\u793e\u304b\u3001\u7247\u65b9\u3060\u3051\u9ad8\u3044\u4f1a\u793e\u304b\u304c\u7acb\u4f53\u7684\u306b\u898b\u3048\u3066\u304f\u308b\u3002ROE\uff08\u81ea\u5df1\u8cc7\u672c\u5229\u76ca\u7387\uff09\u304c\u9ad8\u3044\u306e\u306bPER\u304c\u4f4e\u3044\u3001\u3068\u3044\u3063\u305f\u306d\u3058\u308c\u306f\u3001\u904e\u5c0f\u8a55\u4fa1\u306e\u30b5\u30a4\u30f3\u306b\u306a\u308b\u3053\u3068\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 id=\"arkb-toc-10\" class=\"wp-block-heading\">\u5272\u5b89\u30fb\u5272\u9ad8\u306e\u76ee\u5b89\u3068\u696d\u7a2e\u5dee<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u304b\u3064\u3066\u65e5\u7d4c\u5e73\u5747\u306e\u4e88\u60f3PER\u306f15\u500d\u524d\u5f8c\u304c\u4e00\u3064\u306e\u76ee\u5b89\u3068\u3055\u308c\u3066\u304d\u307e\u3057\u305f\u3002\u3082\u3063\u3068\u3082\u8db3\u5143\u306e\u76f8\u5834\u3067\u306f16\u301c18\u500d\u7a0b\u5ea6\u3067\u63a8\u79fb\u3059\u308b\u5c40\u9762\u304c\u591a\u304f\u3001\u91d1\u5229\u3084\u5e02\u6cc1\u3067\u9069\u6b63\u30ec\u30f3\u30b8\u306f\u52d5\u304d\u307e\u3059\u3002\u696d\u7a2e\u5dee\u3082\u5927\u304d\u3044\u3002\u6210\u9577\u671f\u5f85\u306e\u9ad8\u3044IT\u30fb\u30b5\u30fc\u30d3\u30b9\u306f\u9ad8\u3081\u3001\u6210\u719f\u3057\u305f\u88fd\u9020\u696d\u3084\u666f\u6c17\u654f\u611f\u696d\u7a2e\u306f\u4f4e\u3081\u304c\u666e\u901a\u3067\u3059\u3002<\/p>\n\n\n\n<p 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class=\"wp-block-paragraph\">\u696d\u7a2e\u5225\u306e\u6700\u65b0\u6c34\u6e96\u306f\u3001\u65e5\u672c\u53d6\u5f15\u6240\u30b0\u30eb\u30fc\u30d7\u304c\u6bce\u6708\u516c\u8868\u3059\u308b<a href=\"https:\/\/www.jpx.co.jp\/markets\/statistics-equities\/misc\/04.html\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-arkb-anchor-color\">\u898f\u6a21\u5225\u30fb\u696d\u7a2e\u5225PER\u30fbPBR\uff08JPX\uff09<\/mark><\/a>\u3067\u78ba\u8a8d\u3067\u304d\u307e\u3059\u3002\u4e2d\u5c0f\u4f01\u696d\u306f\u898f\u6a21\u3084\u6d41\u52d5\u6027\u306e\u9762\u3067\u4e0a\u5834\u4f01\u696d\u306b\u898b\u52a3\u308a\u3059\u308b\u305f\u3081\u3001\u53c2\u7167\u500d\u7387\u306f\u305d\u3053\u304b\u3089\u3084\u3084\u4f4e\u3081\u306b\u7f6e\u304f\u306e\u304c\u5b9f\u52d9\u306e\u51fa\u767a\u70b9\u3067\u3059\u3002<\/p>\n\n\n\n<h2 id=\"arkb-toc-11\" class=\"wp-block-heading\">\u975e\u4e0a\u5834\u682a\u3078\u306e\u300c4\u3064\u306e\u88dc\u6b63\u300d\u3067\u4fa1\u683c\u30ec\u30f3\u30b8\u3092\u3064\u304f\u308b<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e0a\u5834\u4f01\u696d\u306e\u500d\u7387\u3092\u975e\u4e0a\u5834\u306e\u4e2d\u5c0f\u4f01\u696d\u3078\u305d\u306e\u307e\u307e\u5f53\u3066\u308b\u3068\u3001\u8b72\u53d7\u4f01\u696d\u306b\u3082\u8b72\u6e21\u30aa\u30fc\u30ca\u30fc\u306b\u3082\u4e0d\u5229\u304c\u751f\u3058\u307e\u3059\u3002\u73fe\u5834\u3067\u306f\u88dc\u6b63\u3092\u7e54\u308a\u8fbc\u3093\u3060\u30ec\u30f3\u30b8\uff08\u5e45\uff09\u3067\u4ea4\u6e09\u3059\u308b\u306e\u304c\u901a\u4f8b\u3067\u3059\u3002\u4ee3\u8868\u7684\u306a4\u3064\u3092\u62bc\u3055\u3048\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h3 id=\"arkb-toc-12\" class=\"wp-block-heading\">\u6b63\u5e38\u53ce\u76ca\u529b\u306e\u8abf\u6574<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u524d\u8ff0\u306e\u3068\u304a\u308a\u3001\u79c1\u7684\u7d4c\u8cbb\u3084\u4e00\u904e\u6027\u640d\u76ca\u3092\u5f15\u304d\u76f4\u3057\u3001\u7a3c\u3050\u529b\u306e\u5b9f\u50cf\u306b\u5bc4\u305b\u308b\u5de5\u7a0b\u3067\u3059\u3002\u30ec\u30f3\u30b8\u306e\u8d77\u70b9\u3092\u6c7a\u3081\u308b\u4f5c\u696d\u3067\u3001\u3053\u3053\u304c\u3076\u308c\u308b\u3068\u4ee5\u964d\u306e\u88dc\u6b63\u304c\u3059\u3079\u3066\u72c2\u3044\u307e\u3059\u3002\u571f\u53f0\u3065\u304f\u308a\u3068\u8003\u3048\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n\n<h3 id=\"arkb-toc-13\" class=\"wp-block-heading\">\u975e\u6d41\u52d5\u6027\u30c7\u30a3\u30b9\u30ab\u30a6\u30f3\u30c8\u3068\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb\u30d7\u30ec\u30df\u30a2\u30e0<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u975e\u4e0a\u5834\u682a\u306f\u3059\u3050\u73fe\u91d1\u5316\u3067\u304d\u307e\u305b\u3093\u3002\u305d\u306e\u4e0d\u4fbf\u3055\u3092\u7e54\u308a\u8fbc\u307f\u3001\u7b97\u51fa\u5024\u304b\u308920\u301c30\uff05\u7a0b\u5ea6\u3092\u5dee\u3057\u5f15\u304f\u306e\u304c<a href=\"https:\/\/mitsukijapan.com\/ma\/column\/non-liquidity-discount\/\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-arkb-anchor-color\">\u975e\u6d41\u52d5\u6027\u30c7\u30a3\u30b9\u30ab\u30a6\u30f3\u30c8<\/mark><\/a>\u3067\u3059\u3002\u9006\u306b\u7d4c\u55b6\u6a29\u3054\u3068\u53d6\u5f97\u3059\u308bM&amp;A\u3067\u306f\u3001\u652f\u914d\u6a29\u306e\u4fa1\u5024\u3068\u3057\u306620\u301c40\uff05\u7a0b\u5ea6\u3092\u4e0a\u4e57\u305b\u3059\u308b\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb\u30d7\u30ec\u30df\u30a2\u30e0\u304c\u50cd\u304f\u3002\u5f15\u304f\u529b\u3068\u8db3\u3059\u529b\u3001\u305d\u306e\u7db1\u5f15\u304d\u3067\u7740\u5730\u304c\u6c7a\u307e\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 id=\"arkb-toc-14\" class=\"wp-block-heading\">\u30b5\u30a4\u30ba\u8abf\u6574\u30684\u3064\u306e\u5411\u304d<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u898f\u6a21\u306e\u5c0f\u3055\u3044\u4f1a\u793e\u306f\u3001\u4eba\u6750\u3084\u53d6\u5f15\u5148\u306e\u96c6\u4e2d\u3068\u3044\u3063\u305f\u30ea\u30b9\u30af\u3092\u62b1\u3048\u3084\u3059\u3044\u3002\u305d\u306e\u5206\u3001\u53c2\u7167\u3059\u308b\u500d\u7387\u3092\u4f4e\u3081\u306b\u898b\u308b\u306e\u304c\u30b5\u30a4\u30ba\u8abf\u6574\u3067\u3059\u3002\u4e0b\u8868\u30674\u3064\u306e\u5411\u304d\u3068\u76ee\u5b89\u3092\u6574\u7406\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table aligncenter is-style-stripes\"><table><thead><tr><th>\u88dc\u6b63\u9805\u76ee<\/th><th>\u4fa1\u683c\u3078\u306e\u5411\u304d<\/th><th>\u76ee\u5b89<\/th><th>M&amp;A\u3067\u306e\u8003\u3048\u65b9<\/th><\/tr><\/thead><tbody><tr><td><strong>\u6b63\u5e38\u53ce\u76ca\u529b\u306e\u8abf\u6574<\/strong><\/td><td>\u5897\u6e1b\u3044\u305a\u308c\u3082<\/td><td>\u500b\u5225<\/td><td>\u5f79\u54e1\u5831\u916c\u3084\u79c1\u7684\u7d4c\u8cbb\u3001\u4e00\u904e\u6027\u640d\u76ca\u3092\u5f15\u304d\u76f4\u3057\u3001\u5e73\u6642\u306e\u7a3c\u3050\u529b\u306b\u8fd1\u3065\u3051\u308b<\/td><\/tr><tr><td><strong>\u975e\u6d41\u52d5\u6027\u30c7\u30a3\u30b9\u30ab\u30a6\u30f3\u30c8<\/strong><\/td><td>\u5f15\u304d\u4e0b\u3052<\/td><td>20\u301c30\uff05\u7a0b\u5ea6<\/td><td>\u3059\u3050\u73fe\u91d1\u5316\u3067\u304d\u306a\u3044\u975e\u4e0a\u5834\u682a\u306e\u30ea\u30b9\u30af\u3092\u4fa1\u683c\u304b\u3089\u63a7\u9664\u3059\u308b<\/td><\/tr><tr><td><strong>\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb\u30d7\u30ec\u30df\u30a2\u30e0<\/strong><\/td><td>\u5f15\u304d\u4e0a\u3052<\/td><td>20\u301c40\uff05\u7a0b\u5ea6<\/td><td>\u7d4c\u55b6\u6a29\u306e\u53d6\u5f97\u306b\u898b\u5408\u3046\u4e0a\u4e57\u305b\u3002\u5c11\u6570\u682a\u306e\u53d6\u5f97\u3067\u306f\u4e57\u308a\u306b\u304f\u3044<\/td><\/tr><tr><td><strong>\u30b5\u30a4\u30ba\u8abf\u6574<\/strong><\/td><td>\u5f15\u304d\u4e0b\u3052<\/td><td>\u500b\u5225<\/td><td>\u898f\u6a21\u304c\u5c0f\u3055\u304f\u30ea\u30b9\u30af\u304c\u9ad8\u3044\u5206\u3001\u53c2\u7167\u500d\u7387\u3092\u4f4e\u3081\u306b\u898b\u308b<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 id=\"arkb-toc-15\" class=\"wp-block-heading\">\u7a0e\u52d9\u306e\u300c\u985e\u4f3c\u696d\u7a2e\u6bd4\u6e96\u65b9\u5f0f\u300d\u3068\u306e\u9055\u3044\u306b\u6ce8\u610f<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u696d\u7a2e\u5225\u306e\u4e0a\u5834\u4f1a\u793e\u5e73\u5747\u3092\u7269\u5dee\u3057\u306b\u3059\u308b\u767a\u60f3\u306f\u3001\u5b9f\u306f\u7a0e\u52d9\u306e\u4e16\u754c\u306b\u3082\u3042\u308a\u307e\u3059\u3002\u76f8\u7d9a\u7a0e\u3084\u8d08\u4e0e\u7a0e\u3067\u975e\u4e0a\u5834\u682a\u3092\u8a55\u4fa1\u3059\u308b\u985e\u4f3c\u696d\u7a2e\u6bd4\u6e96\u65b9\u5f0f\u304c\u305d\u308c\u3067\u3001\u8003\u3048\u65b9\u306f\u30de\u30fc\u30b1\u30c3\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\u306b\u4f3c\u3066\u3044\u307e\u3059\u3002\u305f\u3060\u3001\u76ee\u7684\u3082\u524d\u63d0\u3082\u5225\u7269\u3067\u3059\u3002<\/p>\n\n\n\n<h3 id=\"arkb-toc-16\" class=\"wp-block-heading\">\u56fd\u7a0e\u5e81\u304c\u516c\u8868\u3059\u308b\u696d\u7a2e\u76ee\u5225\u306e\u682a\u4fa1<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u56fd\u7a0e\u5e81\u306f\u6bce\u5e74\u3001\u696d\u7a2e\u76ee\u3054\u3068\u306e\u682a\u4fa1\u30fb\u914d\u5f53\u30fb\u5229\u76ca\u30fb\u7d14\u8cc7\u7523\u3092\u516c\u8868\u3057\u3066\u3044\u307e\u3059\u3002\u6700\u65b0\u7248\u306f<a href=\"https:\/\/www.nta.go.jp\/law\/tsutatsu\/kobetsu\/hyoka\/r07\/2506\/index.htm\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-arkb-anchor-color\">\u4ee4\u548c7\u5e74\u5206\u306e\u985e\u4f3c\u696d\u7a2e\u6bd4\u6e96\u4fa1\u984d\u8a08\u7b97\u4e0a\u306e\u696d\u7a2e\u76ee\u53ca\u3073\u696d\u7a2e\u76ee\u5225\u682a\u4fa1\u7b49\uff08\u56fd\u7a0e\u5e81\uff09<\/mark><\/a>\u3067\u78ba\u8a8d\u3067\u304d\u307e\u3059\u3002\u8ab2\u7a0e\u306e\u516c\u5e73\u3092\u76ee\u7684\u306b\u5b9a\u3081\u3089\u308c\u305f\u8a55\u4fa1\u30eb\u30fc\u30eb\u3067\u3042\u3063\u3066\u3001\u5bfe\u4fa1\u305d\u306e\u3082\u306e\u3092\u793a\u3059\u3082\u306e\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u985e\u4f3c\u696d\u7a2e\u6bd4\u6e96\u65b9\u5f0f\u306f\u3001\u696d\u7a2e\u76ee\u3054\u3068\u306e\u682a\u4fa1\u306b\u3001\u914d\u5f53\u30fb\u5229\u76ca\u30fb\u7d14\u8cc7\u7523\u3068\u3044\u30463\u8981\u7d20\u306e\u6bd4\u7387\u3092\u639b\u3051\u5408\u308f\u305b\u3066\u8a55\u4fa1\u984d\u3092\u5c0e\u304d\u307e\u3059\u3002\u7b97\u5f0f\u3068\u8981\u7d20\u304c\u901a\u9054\u3067\u56fa\u5b9a\u3055\u308c\u3066\u3044\u308b\u70b9\u304c\u3001\u4ea4\u6e09\u3067\u500d\u7387\u3092\u9078\u3076\u985e\u4f3c\u4f1a\u793e\u6bd4\u8f03\u6cd5\u3068\u6839\u672c\u304b\u3089\u7570\u306a\u308b\u3002\u540c\u3058\u696d\u7a2e\u5225\u306e\u4e0a\u5834\u4f1a\u793e\u5e73\u5747\u3092\u7269\u5dee\u3057\u306b\u3057\u3066\u3082\u3001\u51fa\u53e3\u306f\u307e\u308b\u3067\u9055\u3063\u3066\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<h3 id=\"arkb-toc-17\" class=\"wp-block-heading\">\u8a55\u4fa1\u984d\u3068\u8b72\u6e21\u4fa1\u683c\u306f\u4e00\u81f4\u3057\u306a\u3044<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u5f53\u793e\u306e\u652f\u63f4\u73fe\u5834\u3067\u7e70\u308a\u8fd4\u3057\u8aac\u660e\u3059\u308b\u306e\u304c\u3001\u3053\u306e\u4e00\u70b9\u3067\u3059\u3002\u7a0e\u52d9\u4e0a\u306e\u8a55\u4fa1\u984d\u3068M&amp;A\u306e\u8b72\u6e21\u4fa1\u683c\u306f\u4e00\u81f4\u3057\u307e\u305b\u3093\u3002\u524d\u8005\u306f\u901a\u9054\u306b\u6cbf\u3063\u305f\u7b97\u5b9a\u984d\u3001\u5f8c\u8005\u306f\u5f53\u4e8b\u8005\u306e\u4ea4\u6e09\u3067\u6c7a\u307e\u308b\u4fa1\u683c\u3002\u76f8\u7d9a\u5bfe\u7b56\u3067\u63e1\u3063\u3066\u3044\u305f\u682a\u4fa1\u306e\u30a4\u30e1\u30fc\u30b8\u306e\u307e\u307e\u58f2\u5374\u306b\u81e8\u3080\u3068\u3001\u60f3\u5b9a\u3068\u306e\u30ae\u30e3\u30c3\u30d7\u306b\u6238\u60d1\u3046\u30aa\u30fc\u30ca\u30fc\u304c\u5c11\u306a\u304f\u306a\u3044\u306e\u3067\u3059\u3002\u6240\u5f97\u7a0e\u3084\u6cd5\u4eba\u7a0e\u306e\u5834\u9762\u3067\u901a\u9054\u306e\u8a55\u4fa1\u304c\u53c2\u7167\u3055\u308c\u308b\u3053\u3068\u306f\u3042\u3063\u3066\u3082\u3001\u305d\u308c\u304c\u5e02\u5834\u3067\u306e\u58f2\u8cb7\u4fa1\u683c\u3092\u4fdd\u8a3c\u3059\u308b\u308f\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<h2 id=\"arkb-toc-18\" class=\"wp-block-heading\">\u30c7\u30e5\u30fc\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u3068\u4ea4\u6e09\u3067\u306ePER\u306e\u6271\u3044<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u4fa1\u683c\u306e\u5f53\u305f\u308a\u304c\u3064\u3044\u305f\u5f8c\u3082\u3001PER\u306f\u59ff\u3092\u5909\u3048\u3066\u9854\u3092\u51fa\u3057\u307e\u3059\u3002\u8b72\u53d7\u5f8c\u306b\u305d\u306e\u500d\u7387\u304c\u7dad\u6301\u3067\u304d\u308b\u304b\u3001\u3092\u898b\u6975\u3081\u308b\u5c40\u9762\u3067\u3059\u3002<\/p>\n\n\n\n<h3 id=\"arkb-toc-19\" class=\"wp-block-heading\">\u60f3\u5b9aPER\u304c\u7dad\u6301\u3067\u304d\u308b\u304b\u306e\u691c\u8a3c<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u8b72\u53d7\u4f01\u696d\u306f<a href=\"https:\/\/mitsukijapan.com\/ma\/column\/what-is-due-diligence\/\"><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>\u3067\u6b63\u5e38\u53ce\u76ca\u529b\u3084\u7570\u5e38\u640d\u76ca\u3092\u7cbe\u67fb\u3057\u3001\u53d6\u5f15\u5f8c\u3082\u60f3\u5b9a\u3057\u305f\u5229\u76ca\u6c34\u6e96\u304c\u7d9a\u304f\u304b\u3092\u78ba\u304b\u3081\u307e\u3059\u3002\u8b72\u6e21\u30aa\u30fc\u30ca\u30fc\u304c\u793a\u3059\u5c06\u6765\u8a08\u753b\u304c\u697d\u89b3\u7684\u3059\u304e\u306a\u3044\u304b\u3001\u5229\u76ca\u4e88\u60f3\u3068\u8a2d\u5099\u6295\u8cc7\u8a08\u753b\u304c\u304b\u307f\u5408\u3063\u3066\u3044\u308b\u304b\u3002\u3053\u3053\u3067\u306e\u691c\u7b97\u304c\u3001\u63d0\u793a\u4fa1\u683c\u306e\u6839\u62e0\u3092\u652f\u3048\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u60f3\u5b9a\u3057\u305f\u500d\u7387\u304c\u5d29\u308c\u308b\u82bd\u306f\u3001\u4eba\u3068\u53d6\u5f15\u5148\u3078\u306e\u4f9d\u5b58\u306b\u6f5c\u307f\u307e\u3059\u3002\u30aa\u30fc\u30ca\u30fc\u4e00\u4eba\u306b\u55b6\u696d\u304c\u96c6\u4e2d\u3057\u3066\u3044\u305f\u308a\u3001\u4e0a\u4f4d\u6570\u793e\u3067\u58f2\u4e0a\u306e\u5927\u534a\u3092\u5360\u3081\u3066\u3044\u305f\u308a\u3059\u308b\u3068\u3001\u8b72\u53d7\u5f8c\u306b\u5229\u76ca\u304c\u60f3\u5b9a\u3069\u304a\u308a\u4f38\u3073\u306a\u3044\u5834\u5408\u304c\u3042\u308b\u3002\u8b72\u53d7\u4f01\u696d\u306f\u305d\u306e\u7d99\u7d9a\u6027\u307e\u3067\u7e54\u308a\u8fbc\u3093\u3060\u3046\u3048\u3067\u3001\u63d0\u793a\u3059\u308b\u500d\u7387\u3092\u6c7a\u3081\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h3 id=\"arkb-toc-20\" class=\"wp-block-heading\">\u682a\u5f0f\u5bfe\u4fa1\u30b9\u30ad\u30fc\u30e0\u3067\u306ePER<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u8b72\u53d7\u306e\u5bfe\u4fa1\u3092\u81ea\u793e\u682a\u3067\u652f\u6255\u3046\u30b9\u30ad\u30fc\u30e0\u3067\u306f\u3001\u8b72\u53d7\u4f01\u696d\u306ePER\u304c\u9ad8\u3044\u307b\u3069<a href=\"https:\/\/mitsukijapan.com\/ma\/column\/what-is-share-exchange-ratio\/\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-arkb-anchor-color\">\u682a\u5f0f\u4ea4\u63db\u6bd4\u7387<\/mark><\/a>\u304c\u6709\u5229\u306b\u50cd\u304d\u307e\u3059\u3002\u9006\u306bPER\u304c\u4f4e\u3044\u72b6\u614b\u3067\u306e\u682a\u5f0f\u5bfe\u4fa1\u306f\u5e0c\u8584\u5316\u306e\u30ea\u30b9\u30af\u3092\u9ad8\u3081\u308b\u3002\u81ea\u793e\u306e\u500d\u7387\u3092\u898b\u306a\u304c\u3089\u6642\u6a5f\u3092\u8a08\u308b\u3001\u3068\u3044\u3046\u7d4c\u55b6\u5224\u65ad\u306b\u3082PER\u306f\u7d61\u3093\u3067\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<h2 id=\"arkb-toc-21\" class=\"wp-block-heading\">PER\u3067\u63b4\u3093\u3060\u4fa1\u683c\u3068\u3001\u30aa\u30fc\u30ca\u30fc\u306e\u624b\u53d6\u308a<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u500d\u7387\u3067\u4fa1\u683c\u306e\u5f53\u305f\u308a\u304c\u3064\u3044\u3066\u3082\u3001\u30aa\u30fc\u30ca\u30fc\u304c\u672c\u5f53\u306b\u6c17\u306b\u3059\u308b\u306e\u306f\u7a0e\u5f15\u304d\u5f8c\u306b\u3044\u304f\u3089\u6b8b\u308b\u304b\u3067\u3059\u3002PER\u304c\u793a\u3059\u306e\u306f\u4fa1\u683c\u3067\u3042\u3063\u3066\u3001\u624b\u53d6\u308a\u305d\u306e\u3082\u306e\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<h3 id=\"arkb-toc-22\" class=\"wp-block-heading\">\u682a\u5f0f\u4fa1\u5024\u304b\u3089\u8b72\u6e21\u76ca\u3001\u305d\u3057\u3066\u624b\u53d6\u308a\u3078<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u500b\u4eba\u682a\u4e3b\u306e\u682a\u5f0f\u8b72\u6e21\u3067\u306f\u3001\u8b72\u6e21\u76ca\uff08\u8b72\u6e21\u4fa1\u984d\u304b\u3089\u53d6\u5f97\u8cbb\u3068\u8b72\u6e21\u8cbb\u7528\u3092\u5f15\u3044\u305f\u984d\uff09\u306b\u539f\u524720.315\uff05\u306e\u7533\u544a\u5206\u96e2\u8ab2\u7a0e\u304c\u304b\u304b\u308a\u307e\u3059\u3002\u7d66\u4e0e\u3084\u4e8b\u696d\u6240\u5f97\u3068\u5408\u7b97\u3055\u308c\u306a\u3044\u5206\u96e2\u8ab2\u7a0e\u3067\u3059\uff08<a href=\"https:\/\/www.nta.go.jp\/taxes\/shiraberu\/taxanswer\/shotoku\/1463.htm\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-arkb-anchor-color\">No.1463 \u682a\u5f0f\u7b49\u3092\u8b72\u6e21\u3057\u305f\u3068\u304d\u306e\u8ab2\u7a0e<\/mark><\/a>\uff09\u3002\u500d\u7387\u3067\u51fa\u305f\u4fa1\u683c\u304b\u3089\u3001\u3053\u306e\u8ca0\u62c5\u3092\u5dee\u3057\u5f15\u3044\u305f\u6b8b\u308a\u304c<a href=\"https:\/\/mitsukijapan.com\/ma\/column\/net-proceeds-sale\/\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-arkb-anchor-color\">\u4f1a\u793e\u58f2\u5374\u306e\u624b\u53d6\u308a\u984d<\/mark><\/a>\u306e\u76ee\u5b89\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 id=\"arkb-toc-23\" class=\"wp-block-heading\">\u9ad8\u984d\u6848\u4ef6\u3067\u898b\u843d\u3068\u305b\u306a\u3044\u8ad6\u70b9<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u6975\u3081\u3066\u9ad8\u984d\u306a\u8b72\u6e21\u3067\u306f\u3001\u4e00\u5b9a\u306e\u6700\u4f4e\u7a0e\u984d\u3092\u78ba\u4fdd\u3059\u308b\u4ed5\u7d44\u307f\u304c2025\u5e74\u5206\u4ee5\u964d\u306b\u5165\u308a\u307e\u3057\u305f\u3002\u6570\u5104\u5186\u898f\u6a21\u306b\u306a\u308b\u3068\u5b9f\u8cea\u7684\u306a\u8ca0\u62c5\u304c\u5909\u308f\u308b\u5834\u5408\u304c\u3042\u308a\u3001\u8ad6\u70b9\u306e\u6574\u7406\u306f<a href=\"https:\/\/mitsukijapan.com\/ma\/column\/capital-gains-tax\/\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-arkb-anchor-color\">\u30ad\u30e3\u30d4\u30bf\u30eb\u30b2\u30a4\u30f3\u8ab2\u7a0e<\/mark><\/a>\u306b\u8b72\u308a\u307e\u3059\u3002\u624b\u53d6\u308a\u306e\u898b\u7acb\u3066\u306f\u3001\u4fa1\u683c\u306e\u8a71\u3068\u540c\u3058\u304f\u3089\u3044\u65e9\u3044\u6bb5\u968e\u3067\u8a70\u3081\u3066\u304a\u304d\u305f\u3044\u3068\u3053\u308d\u3067\u3059\u3002<\/p>\n\n\n\n<h2 id=\"arkb-toc-24\" class=\"wp-block-heading\">PER\u3092\u4f7f\u3046\u3068\u304d\u306e\u6ce8\u610f\u70b9<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u4fbf\u5229\u306a\u6307\u6a19\u307b\u3069\u3001\u983c\u308a\u3059\u304e\u306f\u7981\u7269\u3067\u3059\u3002\u5358\u5e74\u5ea6\u306e\u5229\u76ca\u3092\u4f7f\u3046\u4ee5\u4e0a\u3001\u666f\u6c17\u5909\u52d5\u3084\u81e8\u6642\u306e\u640d\u76ca\u3067\u6570\u5b57\u304c\u5927\u304d\u304f\u632f\u308c\u308b\u3002\u4e0b\u8868\u3067\u8db3\u3092\u3059\u304f\u308f\u308c\u3084\u3059\u3044\u70b9\u3092\u307e\u3068\u3081\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table aligncenter is-style-stripes\"><table><thead><tr><th>\u6ce8\u610f\u70b9<\/th><th>\u4e2d\u8eab\u3068\u5bfe\u51e6<\/th><\/tr><\/thead><tbody><tr><td><strong>\u5358\u5e74\u5ea6\u5229\u76ca\u306b\u63fa\u308c\u308b<\/strong><\/td><td>\u7279\u5225\u640d\u76ca\u3067\u500d\u7387\u304c\u8df3\u306d\u308b\u3002\u904e\u53bb3\u301c5\u5e74\u306e\u5e73\u5747\u3084\u8abf\u6574\u5f8c\u5229\u76ca\u3067\u306a\u3089\u3057\u3066\u898b\u308b<\/td><\/tr><tr><td><strong>\u8d64\u5b57\u306b\u306f\u4f7f\u3048\u306a\u3044<\/strong><\/td><td>\u5229\u76ca\u304c\u30de\u30a4\u30ca\u30b9\u3060\u3068\u500d\u7387\u304c\u6210\u308a\u7acb\u305f\u306a\u3044\u3002EV\/EBITDA\u3084<a href=\"https:\/\/mitsukijapan.com\/ma\/column\/net-asset-method\/\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-arkb-anchor-color\">\u6642\u4fa1\u7d14\u8cc7\u7523\u6cd5<\/mark><\/a>\u3067\u88dc\u3046<\/td><\/tr><tr><td><strong>\u4f1a\u8a08\u65b9\u91dd\u3067\u52d5\u304f<\/strong><\/td><td>\u511f\u5374\u65b9\u6cd5\u3084\u57fa\u6e96\u306e\u5dee\u304cEPS\u3092\u901a\u3058\u3066\u500d\u7387\u306b\u51fa\u308b\u3002\u6ce8\u8a18\u3067\u524d\u63d0\u3092\u78ba\u304b\u3081\u308b<\/td><\/tr><tr><td><strong>\u696d\u7a2e\u3067\u3070\u3089\u3064\u304f<\/strong><\/td><td>\u6210\u9577\u671f\u5f85\u306e\u9ad8\u3044\u696d\u7a2e\u306f\u9ad8\u3081\u3001\u666f\u6c17\u654f\u611f\u306f\u4f4e\u3081\u304c\u666e\u901a\u3002\u540c\u3058\u571f\u4ff5\u3067\u6bd4\u3079\u308b<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">PER\u5358\u72ec\u3067\u306f\u5224\u65ad\u304c\u504f\u308a\u307e\u3059\u3002PBR\u3084ROE\u3001\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3068\u7d44\u307f\u5408\u308f\u305b\u3001\u5b9a\u6027\u7684\u306a\u5f37\u307f\u3082\u5408\u308f\u305b\u3066\u8aad\u3080\u3002\u8907\u773c\u3067\u898b\u3066\u306f\u3058\u3081\u3066\u3001\u5272\u5b89\u300c\u306b\u898b\u3048\u308b\u300d\u3060\u3051\u306e\u4f1a\u793e\u3092\u898b\u629c\u3051\u307e\u3059\u3002<\/p>\n\n\n\n<h2 id=\"arkb-toc-25\" class=\"wp-block-heading\">\u4f1a\u793e\u58f2\u5374\u3068PER\u306b\u95a2\u3059\u308bFAQ<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u8b72\u6e21\u3092\u691c\u8a0e\u3059\u308b\u30aa\u30fc\u30ca\u30fc\u304b\u3089\u3001PER\u306b\u3064\u3044\u3066\u5bc4\u305b\u3089\u308c\u308b\u8cea\u554f\u306b\u7b54\u3048\u307e\u3059\u3002<\/p>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1756954358490\"><strong class=\"schema-faq-question\"><strong><span class=\"arkb-fz arkb-fz-l\">Q\uff1a<strong><strong>\u81ea\u793e\u306ePER\u306f\u81ea\u5206\u3067\u8a08\u7b97\u3067\u304d\u307e\u3059\u304b<\/strong>\uff1f<\/strong><\/span><\/strong><\/strong> <p class=\"schema-faq-answer\">\u975e\u4e0a\u5834\u3060\u3068\u5e02\u5834\u682a\u4fa1\u304c\u306a\u3044\u305f\u3081\u3001\u305d\u306e\u307e\u307e\u3067\u306f\u51fa\u305b\u307e\u305b\u3093\u3002\u73fe\u5834\u3067\u306f\u307e\u305a\u985e\u4f3c\u3059\u308b\u4e0a\u5834\u4f01\u696d\u306ePER\u3092\u96c6\u3081\u3001\u8abf\u6574\u5f8c\u306e\u7d14\u5229\u76ca\u306b\u639b\u3051\u3066\u76ee\u5b89\u3092\u7f6e\u304d\u307e\u3059\u3002\u3042\u304f\u307e\u3067\u51fa\u767a\u70b9\u3067\u3001\u3053\u3053\u304b\u3089\u88dc\u6b63\u3092\u91cd\u306d\u3066\u3044\u304d\u307e\u3059\u3002<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1756954418692\"><strong class=\"schema-faq-question\"><strong><span class=\"arkb-fz arkb-fz-l\">Q\uff1a<strong><strong><strong>\u8cb7\u3044\u624b\u306fPER\u3068EV\/EBITDA\u500d\u7387\u306e\u3069\u3061\u3089\u3092\u91cd\u304f\u898b\u307e\u3059\u304b<\/strong><\/strong>\uff1f<\/strong><\/span><\/strong><\/strong> <p class=\"schema-faq-answer\">\u501f\u5165\u306e\u3042\u308b\u4f1a\u793e\u304c\u5927\u534a\u306e\u4e2d\u5c0fM&amp;A\u3067\u306f\u3001\u8ca1\u52d9\u69cb\u6210\u306e\u5f71\u97ff\u3092\u5916\u305b\u308bEV\/EBITDA\u500d\u7387\u3092\u8ef8\u306b\u7f6e\u304f\u306e\u304c\u4e00\u822c\u7684\u3067\u3059\u3002PER\u306f\u7b54\u3048\u5408\u308f\u305b\u5f79\u306b\u307e\u308f\u308a\u307e\u3059\u3002\u4e21\u306b\u3089\u307f\u3067\u4fa1\u683c\u306e\u59a5\u5f53\u6027\u3092\u78ba\u304b\u3081\u308b\u3068\u8003\u3048\u3066\u304f\u3060\u3055\u3044\u3002<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1768017963658\"><strong class=\"schema-faq-question\"><strong><span class=\"arkb-fz arkb-fz-l\">Q\uff1a<strong><strong>\u8d64\u5b57\u6c7a\u7b97\u3060\u3068\u58f2\u5374\u4fa1\u683c\u306f\u30bc\u30ed\u3067\u3059\u304b<\/strong>\uff1f<\/strong><\/span><\/strong><\/strong> <p class=\"schema-faq-answer\">\u305d\u3046\u3068\u306f\u9650\u308a\u307e\u305b\u3093\u3002PER\u306f\u4f7f\u3048\u307e\u305b\u3093\u304c\u3001\u7d14\u8cc7\u7523\u3084\u4e8b\u696d\u306e\u5c06\u6765\u6027\u3001\u8a31\u8a8d\u53ef\u3084\u9867\u5ba2\u57fa\u76e4\u3068\u3044\u3063\u305f\u7121\u5f62\u306e\u4fa1\u5024\u3067\u8a55\u4fa1\u3059\u308b\u9053\u304c\u3042\u308a\u307e\u3059\u3002\u5229\u76ca\u3060\u3051\u304c\u4fa1\u683c\u306e\u6e90\u3067\u306f\u306a\u3044\u3001\u3068\u899a\u3048\u3066\u304a\u3044\u3066\u304f\u3060\u3055\u3044\u3002<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1780985211979\"><strong class=\"schema-faq-question\"><strong><span class=\"arkb-fz arkb-fz-l\">Q\uff1a<strong><strong><strong>\u76f8\u7d9a\u7a0e\u306e\u682a\u4fa1\u8a55\u4fa1\u984d\u3067\u58f2\u308c\u307e\u3059\u304b<\/strong>\uff1f<\/strong><\/strong><\/span><\/strong><\/strong> <p class=\"schema-faq-answer\">\u4e00\u81f4\u3057\u306a\u3044\u306e\u304c\u901a\u5e38\u3067\u3059\u3002\u7a0e\u52d9\u306e\u8a55\u4fa1\u984d\u306f\u901a\u9054\u306b\u6cbf\u3063\u305f\u7b97\u5b9a\u984d\u3001\u58f2\u8cb7\u306e\u4fa1\u683c\u306f\u4ea4\u6e09\u3067\u6c7a\u307e\u308b\u5bfe\u4fa1\u3002\u6761\u4ef6\u6b21\u7b2c\u3067\u4e0a\u306b\u3082\u4e0b\u306b\u3082\u632f\u308c\u307e\u3059\u3002\u4e21\u8005\u306f\u5225\u7269\u3068\u5207\u308a\u5206\u3051\u3066\u81e8\u3080\u306e\u304c\u5b89\u5168\u3067\u3059\u3002<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1780985212832\"><strong class=\"schema-faq-question\"><strong><span class=\"arkb-fz arkb-fz-l\">Q\uff1a<strong><strong><strong>PER\u304c\u9ad8\u3044\u4f1a\u793e\u307b\u3069\u9ad8\u304f\u58f2\u308c\u307e\u3059\u304b<\/strong>\uff1f<\/strong><\/strong><\/span><\/strong><\/strong> <p class=\"schema-faq-answer\">\u5fc5\u305a\u3057\u3082\u305d\u3046\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u9ad8\u3044PER\u306f\u5c06\u6765\u671f\u5f85\u306e\u88cf\u8fd4\u3057\u3067\u3001\u305d\u306e\u671f\u5f85\u304c\u5d29\u308c\u308c\u3070\u4e00\u6c17\u306b\u3057\u307c\u307f\u307e\u3059\u3002\u5229\u76ca\u306e\u5b89\u5b9a\u5ea6\u3084\u4e8b\u696d\u306e\u7d99\u7d9a\u6027\u307e\u3067\u542b\u3081\u3066\u3001\u8b72\u53d7\u4f01\u696d\u306f\u51b7\u9759\u306b\u898b\u3066\u3044\u307e\u3059\u3002<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1781138723845\"><strong class=\"schema-faq-question\"><strong><span class=\"arkb-fz arkb-fz-l\">Q\uff1a<strong><strong><strong><strong>\u6b63\u5e38\u53ce\u76ca\u529b\u306e\u8abf\u6574\u306f\u8b72\u6e21\u524d\u306b\u81ea\u5206\u3067\u9032\u3081\u3089\u308c\u307e\u3059\u304b<\/strong><\/strong>\uff1f<\/strong><\/strong><\/span><\/strong><\/strong> <p class=\"schema-faq-answer\">\u3042\u308b\u7a0b\u5ea6\u306f\u53ef\u80fd\u3067\u3059\u3002\u5f79\u54e1\u5831\u916c\u3084\u7d4c\u55b6\u8005\u4fdd\u967a\u3001\u79c1\u7684\u306a\u7d4c\u8cbb\u306e\u6d17\u3044\u51fa\u3057\u306f\u3001\u30aa\u30fc\u30ca\u30fc\u81ea\u8eab\u3067\u3082\u7740\u624b\u3067\u304d\u307e\u3059\u3002\u3082\u3063\u3068\u3082\u3001\u3069\u3053\u307e\u3067\u3092\u5e73\u6642\u306e\u5229\u76ca\u3068\u898b\u308b\u304b\u306f\u8b72\u53d7\u5074\u306e\u8996\u70b9\u3082\u7d61\u3080\u305f\u3081\u3001\u6700\u7d42\u7684\u306a\u5f15\u304d\u76f4\u3057\u306f\u5c02\u9580\u5bb6\u3092\u4ea4\u3048\u3066\u56fa\u3081\u308b\u306e\u304c\u5b89\u5168\u3067\u3059\u3002\u65e9\u3081\u306b\u624b\u3092\u4ed8\u3051\u3066\u304a\u304f\u307b\u3069\u3001\u4fa1\u683c\u306e\u8b70\u8ad6\u3092\u843d\u3061\u7740\u3044\u3066\u904b\u3079\u307e\u3059\u3002<\/p> <\/div> <\/div>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-8f761849 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-26\" class=\"wp-block-heading\">PER\u3068M&amp;A\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u306e\u307e\u3068\u3081<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">PER\u306f\u682a\u4e3b\u76ee\u7dda\u3067\u5024\u3054\u308d\u611f\u3092\u63b4\u3081\u308b\u4fbf\u5229\u306a\u500d\u7387\u3067\u3059\u304c\u3001\u8ca1\u52d9\u69cb\u6210\u306e\u5dee\u3084\u5358\u5e74\u5ea6\u5229\u76ca\u306e\u632f\u308c\u306b\u5f31\u304f\u3001\u4e2d\u5c0fM&amp;A\u3067\u306f\u4e3b\u5f79\u3088\u308a\u691c\u7b97\u5f79\u306b\u5411\u304d\u307e\u3059\u3002\u4fa1\u683c\u306f\u696d\u7a2e\u5225\u306e\u6c34\u6e96\u3092\u8d77\u70b9\u306b\u3001\u6b63\u5e38\u53ce\u76ca\u529b\u3084\u975e\u6d41\u52d5\u6027\u3001\u652f\u914d\u6a29\u3068\u3044\u3063\u305f\u88dc\u6b63\u3092\u91cd\u306d\u305f\u30ec\u30f3\u30b8\u3067\u52d5\u304f\u3002\u6f20\u7136\u3068\u3057\u305f\u4e0d\u5b89\u3082\u3001\u5177\u4f53\u7684\u306a\u8ad6\u70b9\u306b\u7f6e\u304d\u63db\u3048\u308b\u307b\u3069\u8efd\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u307f\u3064\u304d\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u306f\u3001\u7a0e\u7406\u58eb\u6cd5\u4eba\u30b0\u30eb\u30fc\u30d7\u306eM&amp;A\u4ef2\u4ecb\u4f1a\u793e\u3067\u3059\u3002\u4e2d\u5c0f\u4f01\u696d\u306eM&amp;A\u306b\u8c4a\u5bcc\u306a\u5b9f\u7e3e\u3092\u6301\u3064\u30a2\u30c9\u30d0\u30a4\u30b6\u30fc\u3084\u516c\u8a8d\u4f1a\u8a08\u58eb\u3001\u7a0e\u7406\u58eb\u304c\u3001\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\u304b\u3089\u8b72\u6e21\u306e\u5b9f\u884c\u307e\u3067\u4e00\u8cab\u3057\u3066\u652f\u63f4\u3057\u307e\u3059\u3002\u81ea\u793e\u306e\u4fa1\u683c\u6c34\u6e96\u3092\u77e5\u308a\u305f\u3044\u6bb5\u968e\u3067\u3082\u3001\u307e\u305a\u306f\u304a\u8a71\u3092\u304a\u805e\u304b\u305b\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 wp-block-paragraph\"><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    <\/div>\n<\/div>","protected":false},"author":8,"featured_media":2169,"template":"","meta":{"cybocfi_hide_featured_image":"yes"},"class_list":["post-2166","column","type-column","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/mitsukijapan.com\/ma\/wp-json\/wp\/v2\/column\/2166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mitsukijapan.com\/ma\/wp-json\/wp\/v2\/column"}],"about":[{"href":"https:\/\/mitsukijapan.com\/ma\/wp-json\/wp\/v2\/types\/column"}],"author":[{"embeddable":true,"href":"https:\/\/mitsukijapan.com\/ma\/wp-json\/wp\/v2\/users\/8"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mitsukijapan.com\/ma\/wp-json\/wp\/v2\/media\/2169"}],"wp:attachment":[{"href":"https:\/\/mitsukijapan.com\/ma\/wp-json\/wp\/v2\/media?parent=2166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}