{"id":2435,"date":"2025-11-07T21:31:22","date_gmt":"2025-11-07T12:31:22","guid":{"rendered":"https:\/\/mitsukijapan.com\/ma\/?post_type=column&#038;p=2435"},"modified":"2025-11-07T21:31:22","modified_gmt":"2025-11-07T12:31:22","slug":"how-to-calculate-the-price","status":"publish","type":"column","link":"https:\/\/mitsukijapan.com\/ma\/column\/how-to-calculate-the-price\/","title":{"rendered":"\u81ea\u793e\u682a\u5f0f\u3092\u8b72\u6e21\u3059\u308b\u3068\u304d\u306e\u4fa1\u683c\u306f\uff1f\u7a0e\u52d9\u4e0a\u306e\u6642\u4fa1\u3068M&amp;A\u682a\u4fa1\u306e\u9055\u3044"},"content":{"rendered":"\n<p>\u682a\u5f0f\u8b72\u6e21\u3092\u691c\u8a0e\u3057\u3066\u3044\u308b\u3082\u306e\u306e\u3001\u682a\u5f0f\u306e\u8a55\u4fa1\u65b9\u6cd5\u306b\u8ff7\u3046\u65b9\u3082\u591a\u3044\u306e\u3067\u306f\u306a\u3044\u3067\u3057\u3087\u3046\u304b\u3002\u672c\u8a18\u4e8b\u3067\u306f\u3001\u81ea\u793e\u682a\u3092\u8b72\u6e21\u3059\u308b\u969b\u306e\u4fa1\u683c\u306e\u7b97\u5b9a\u65b9\u6cd5\u3001\u6ce8\u610f\u70b9\u306a\u3069\u306b\u3064\u3044\u3066\u89e3\u8aac\u3057\u307e\u3059\u3002\u682a\u5f0f\u8b72\u6e21\u3092\u691c\u8a0e\u3057\u3066\u3044\u308b\u4eba\u306f\u3001\u53c2\u8003\u306b\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n\n<div 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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\" class=\"ark-block-toc__link\">\u682a\u5f0f\u8b72\u6e21\u3068\u306f<\/a><\/li><li><a href=\"#arkb-toc-1\" class=\"ark-block-toc__link\">\u682a\u5f0f\u8b72\u6e21\u4fa1\u683c\u306e\u57fa\u672c\u7684\u306a\u8003\u3048\u65b9<\/a><ol class=\"ark-block-toc__list\" data-level=\"3\"><li><a href=\"#arkb-toc-2\" class=\"ark-block-toc__link\">\u540c\u65cf\u5185\u3067\u682a\u5f0f\u8b72\u6e21\u3059\u308b\u969b\u306e\u682a\u4fa1<\/a><\/li><li><a href=\"#arkb-toc-3\" class=\"ark-block-toc__link\">\u7b2c\u4e09\u8005\u9593\u3067\u682a\u5f0f\u8b72\u6e21\u3059\u308b\u969b\u306e\u682a\u4fa1<\/a><\/li><\/ol><\/li><li><a href=\"#arkb-toc-4\" class=\"ark-block-toc__link\">\u682a\u5f0f\u4fa1\u5024\u306e\u7b97\u5b9a\u624b\u6cd5\uff083\u3064\u306e\u8a55\u4fa1\u30a2\u30d7\u30ed\u30fc\u30c1\uff09<\/a><ol class=\"ark-block-toc__list\" data-level=\"3\"><li><a href=\"#arkb-toc-5\" class=\"ark-block-toc__link\">\u30b3\u30b9\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1<\/a><\/li><li><a href=\"#arkb-toc-6\" class=\"ark-block-toc__link\">\u30de\u30fc\u30b1\u30c3\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1<\/a><\/li><li><a href=\"#arkb-toc-7\" class=\"ark-block-toc__link\">\u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1<\/a><\/li><\/ol><\/li><li><a href=\"#arkb-toc-8\" class=\"ark-block-toc__link\">\u8b72\u6e21\u4fa1\u683c\u3092\u6c7a\u5b9a\u3059\u308b\u969b\u306e\u6ce8\u610f\u70b9<\/a><ol class=\"ark-block-toc__list\" data-level=\"3\"><li><a href=\"#arkb-toc-9\" class=\"ark-block-toc__link\">\u6642\u4fa1\u3067\u682a\u5f0f\u8b72\u6e21\u3059\u308b\u3068\u304d<\/a><\/li><li><a href=\"#arkb-toc-10\" class=\"ark-block-toc__link\">\u4f4e\u984d\u8b72\u6e21\u3067\u682a\u5f0f\u8b72\u6e21\u3059\u308b\u3068\u304d<\/a><\/li><li><a href=\"#arkb-toc-11\" class=\"ark-block-toc__link\">\u9ad8\u984d\u8b72\u6e21\u3067\u682a\u5f0f\u8b72\u6e21\u3059\u308b\u3068\u304d<\/a><\/li><li><a href=\"#arkb-toc-12\" class=\"ark-block-toc__link\">M&amp;A\u524d\u306b\u89aa\u65cf\u5185\u3067\u682a\u5f0f\u8b72\u6e21\u3059\u308b\u3068\u304d<\/a><\/li><\/ol><\/li><li><a href=\"#arkb-toc-13\" class=\"ark-block-toc__link\">\u682a\u5f0f\u8b72\u6e21\u3067\u306e\u4fa1\u683c\u3092\u9ad8\u3081\u308b\u65b9\u6cd5<\/a><ol class=\"ark-block-toc__list\" data-level=\"3\"><li><a href=\"#arkb-toc-14\" class=\"ark-block-toc__link\">\u81ea\u793e\u306e\u4fa1\u5024\u3092\u7406\u89e3\u3057\u3066\u304f\u308c\u308b\u76f8\u624b\u5148\u3092\u63a2\u3059<\/a><\/li><li><a href=\"#arkb-toc-15\" class=\"ark-block-toc__link\">\u5177\u4f53\u7684\u306a\u60c5\u5831\u3092\u63d0\u4f9b\u3059\u308b<\/a><\/li><li><a href=\"#arkb-toc-16\" class=\"ark-block-toc__link\">\u5019\u88dc\u5148\u540c\u58eb\u3067\u4fa1\u683c\u7af6\u4e89\u3055\u305b\u308b<\/a><\/li><\/ol><\/li><li><a href=\"#arkb-toc-17\" class=\"ark-block-toc__link\">\u682a\u5f0f\u8b72\u6e21\u4fa1\u683c\u306e\u307e\u3068\u3081<\/a><\/li><\/ol><\/li><\/ol>\n\t<\/div>\n\n\n<p>\u300c\u3046\u3061\u306e\u4f1a\u793e\u3067\u3082\u58f2\u5374\u3067\u304d\u308b\u3060\u308d\u3046\u304b\u2026\u300d\u3001\u300c\u4f55\u304b\u3089\u59cb\u3081\u308c\u3070\u3044\u3044\u3093\u3060\u308d\u3046\u2026\u300d\u3002\u305d\u306e\u3088\u3046\u306a\u30aa\u30fc\u30ca\u30fc\u7d4c\u55b6\u8005\u306e\u4e0d\u5b89\u306b\u3001\u4e2d\u5c0f\u4f01\u696d\u5411\u3051M&amp;A\u4ef2\u4ecb\u4f1a\u793e\u307f\u3064\u304d\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u306f\u300120\u5e74\u9593\u30fb500\u4ef6\u4ee5\u4e0a\u306e\u652f\u63f4\u5b9f\u7e3e\u306b\u57fa\u3065\u304d\u3001\u304a\u5fdc\u3048\u3057\u307e\u3059\u3002\u672c\u683c\u691c\u8a0e\u524d\u306e\u60c5\u5831\u53ce\u96c6\u3068\u3057\u3066\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-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\">\u682a\u5f0f\u8b72\u6e21\u3068\u306f<\/h2>\n\n\n\n<p><a href=\"https:\/\/mitsukijapan.com\/ma\/column\/stock-transfer\/\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-arkb-anchor-color\">\u682a\u5f0f\u8b72\u6e21<\/mark><\/a>\u3068\u306f\u3001\u5bfe\u8c61\u4f1a\u793e\uff08\u58f2\u308a\u624b\uff09\u306e\u682a\u4e3b\u304c\u3001\u4fdd\u6709\u3059\u308b\u682a\u5f0f\u3092\u8b72\u53d7\u4f01\u696d\uff08\u8cb7\u3044\u624b\uff09\u306b\u58f2\u5374\u3057\u3001\u7d4c\u55b6\u6a29\u3092\u79fb\u52d5\u3055\u305b\u308b\u53d6\u5f15\u624b\u6cd5\u3067\u3059\u3002\u58f2\u4e3b\u306f\u8b72\u6e21\u306e\u5bfe\u4fa1\u3068\u3057\u3066\u73fe\u91d1\u3092\u53d7\u3051\u53d6\u308a\u3001\u8b72\u53d7\u4f01\u696d\u306f\u5bfe\u8c61\u4f1a\u793e\u306e\u682a\u5f0f\u3092\u53d6\u5f97\u3057\u307e\u3059\u3002\u682a\u5f0f\u8b72\u6e21\u306f\u3001M&amp;A\u306e\u65b9\u6cd5\u306e1\u3064\u3067\u3001\u6700\u3082\u30dd\u30d4\u30e5\u30e9\u30fc\u306a\u624b\u6cd5\u3067\u3059\u3002<\/p>\n\n\n\n<h2 id=\"arkb-toc-1\" class=\"wp-block-heading\">\u682a\u5f0f\u8b72\u6e21\u4fa1\u683c\u306e\u57fa\u672c\u7684\u306a\u8003\u3048\u65b9<\/h2>\n\n\n\n<p>\u4e0a\u5834\u682a\u5f0f\u3092\u5e02\u5834\u3067\u58f2\u8cb7\u3059\u308b\u306e\u306a\u3089\u3001\u305d\u306e\u6642\u306e\u5e02\u5834\u4fa1\u683c\u304c\u660e\u78ba\u306a\u306e\u3067\u3001\u4fa1\u683c\u306b\u3064\u3044\u3066\u8ff7\u3046\u3053\u3068\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u4e00\u7269\u4e00\u4fa1\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"has-arkb-anchor-color has-text-color has-link-color wp-elements-a5961c622b91f70e659fd60dbcc16fd7\">\u25b7\u95a2\u9023\uff1a<a href=\"https:\/\/mitsukijapan.com\/ma\/column\/market-capitalization\/\">\u6642\u4fa1\u7dcf\u984d\u306e\u8a08\u7b97\u65b9\u6cd5\uff5c\u4f01\u696d\u4fa1\u5024\u3084\u682a\u4e3b\u4fa1\u5024\u3068\u306e\u9055\u3044\u30fb\u76ee\u5b89\u30fb\u975e\u4e0a\u5834\u682a\u4fa1<\/a><\/p>\n\n\n\n<p>\u3057\u304b\u3057\u3001\u975e\u4e0a\u5834\u682a\u5f0f\u3092\u58f2\u8cb7\u3059\u308b\u969b\u306e\u8b72\u6e21\u4fa1\u683c\u306f\u3001\u76f8\u5834\u304c\u516c\u8868\u3055\u308c\u3066\u3044\u308b\u308f\u3051\u3067\u306f\u306a\u3044\u3067\u3059\u3057\u3001\u4ee5\u4e0b\u3067\u8aac\u660e\u3059\u308b\u3088\u3046\u306b\u4f55\u306b\u7740\u76ee\u3057\u3066\u8a55\u4fa1\u3059\u308b\u304b\u306b\u3088\u3063\u3066\u7b97\u5b9a\u7d50\u679c\u304c\u7570\u306a\u308a\u307e\u3059\u3002\u4e00\u7269\u4e00\u4fa1\u3067\u306f\u306a\u3044\u3001\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img decoding=\"async\" width=\"858\" height=\"467\" src=\"https:\/\/mitsukijapan.com\/ma\/wp-content\/uploads\/\u682a\u5f0f\u306e\u8b72\u6e21\u4fa1\u683c\u30fb\u91d1\u984d\u306e\u6c7a\u3081\u65b9\u306f\uff1f.webp\" alt=\"\u682a\u5f0f\u306e\u8b72\u6e21\u4fa1\u683c\u30fb\u91d1\u984d\u306e\u6c7a\u3081\u65b9\u306f\uff1f\" class=\"wp-image-6184\" srcset=\"https:\/\/mitsukijapan.com\/ma\/wp-content\/uploads\/\u682a\u5f0f\u306e\u8b72\u6e21\u4fa1\u683c\u30fb\u91d1\u984d\u306e\u6c7a\u3081\u65b9\u306f\uff1f.webp 858w, https:\/\/mitsukijapan.com\/ma\/wp-content\/uploads\/\u682a\u5f0f\u306e\u8b72\u6e21\u4fa1\u683c\u30fb\u91d1\u984d\u306e\u6c7a\u3081\u65b9\u306f\uff1f-640x348.webp 640w, https:\/\/mitsukijapan.com\/ma\/wp-content\/uploads\/\u682a\u5f0f\u306e\u8b72\u6e21\u4fa1\u683c\u30fb\u91d1\u984d\u306e\u6c7a\u3081\u65b9\u306f\uff1f-768x418.webp 768w\" sizes=\"(max-width: 858px) 100vw, 858px\" \/><\/figure>\n<\/div>\n\n\n<p>\u4ee5\u4e0b\u3067\u306f\u3001\u975e\u4e0a\u5834\u306e\u81ea\u793e\u682a\u3092\u8b72\u6e21\u3059\u308b\u969b\u306e\u682a\u4fa1\u306e\u8003\u3048\u65b9\u3092\u8aac\u660e\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h3 id=\"arkb-toc-2\" class=\"wp-block-heading\">\u540c\u65cf\u5185\u3067\u682a\u5f0f\u8b72\u6e21\u3059\u308b\u969b\u306e\u682a\u4fa1<\/h3>\n\n\n\n<p>\u89aa\u5b50\u7b49\u306e\u89aa\u65cf\u5185\u3084\u30b0\u30eb\u30fc\u30d7\u4f1a\u793e\u9593\u306a\u3069\u3001\u8fd1\u3057\u3044\u9593\u67c4\u3067\u884c\u308f\u308c\u308b<a href=\"https:\/\/mitsukijapan.com\/ma\/column\/what-are-the-procedures-and-benefits-of-transferring-unlisted-shares-share-price-calculation-method-and-taxes-are-also-explained\/\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-arkb-anchor-color\">\u975e\u4e0a\u5834\u682a\u5f0f\u306e\u8b72\u6e21<\/mark><\/a>\u3067\u306f\u3001\u7a0e\u52d9\u4e0a\u306e\u682a\u4fa1\u304c\u63a1\u7528\u3055\u308c\u308b\u3053\u3068\u304c\u591a\u3044\u3067\u3059\u3002\u5177\u4f53\u7684\u306b\u306f\u3001\u5c11\u3005\u5c02\u9580\u7684\u306b\u306a\u308a\u307e\u3059\u304c\u3001\u58f2\u308a\u624b\u30fb\u8cb7\u3044\u624b\u306e\u5c5e\u6027\u306b\u5fdc\u3058\u3066\u6cd5\u4eba\u7a0e\u6cd5\u4e0a\u306e\u682a\u4fa1\u3001\u6240\u5f97\u7a0e\u6cd5\u4e0a\u306e\u682a\u4fa1\u3001\u76f8\u7d9a\u7a0e\u6cd5\u4e0a\u306e\u682a\u4fa1\u304c\u4f7f\u3044\u5206\u3051\u3089\u308c\u307e\u3059\u3002\u3053\u308c\u3089\u306e\u682a\u4fa1\u304c\u672c\u5f53\u306e\u610f\u5473\u3067\u9069\u6642\u6642\u4fa1\u304b\u3069\u3046\u304b\u306f\u3055\u3066\u304a\u304d\u3001\u3053\u308c\u3089\u7a0e\u52d9\u4e0a\u306e\u682a\u4fa1\u3067\u53d6\u5f15\u3092\u884c\u3063\u3066\u304a\u3051\u3070\u3001\u7a0e\u52d9\u5f53\u5c40\u304b\u3089\u554f\u984c\u306b\u3055\u308c\u306a\u3044\u305f\u3081\u3001\u5b9f\u52d9\u4e0a\u306f\u7a0e\u52d9\u30eb\u30fc\u30eb\u306b\u7e1b\u3089\u308c\u308b\u304d\u3089\u3044\u304c\u3042\u308a\u307e\u3059\u3002\uff08\u3053\u308c\u3092\u9006\u624b\u306b\u3068\u3063\u305f\u5408\u6cd5\u7684\u306a\u682a\u4fa1\u5f15\u4e0b\u3052\u5bfe\u7b56\u7b49\u304c\u5b58\u5728\u3057\u307e\u3059\u3002\uff09<\/p>\n\n\n\n<h4 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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<h2 id=\"arkb-toc-4\" class=\"wp-block-heading\">\u682a\u5f0f\u4fa1\u5024\u306e\u7b97\u5b9a\u624b\u6cd5\uff083\u3064\u306e\u8a55\u4fa1\u30a2\u30d7\u30ed\u30fc\u30c1\uff09<\/h2>\n\n\n\n<p>\u682a\u5f0f\u8b72\u6e21\u306b\u304a\u3051\u308b\u4fa1\u5024\u7b97\u5b9a\u3067\u7528\u3044\u3089\u308c\u308b\u5e7e\u3064\u304b\u306e\u8a55\u4fa1\u65b9\u6cd5\u306f\u30013\u3064\u306e\u30a2\u30d7\u30ed\u30fc\u30c1\u306b\u5927\u5225\u3055\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<h3 id=\"arkb-toc-5\" class=\"wp-block-heading\">\u30b3\u30b9\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1<\/h3>\n\n\n\n<p>\u30b3\u30b9\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\u306f\u3001\u5bfe\u8c61\u3068\u306a\u308b\u4f1a\u793e\u306e\u7d14\u8cc7\u7523\u984d\u3092\u57fa\u6e96\u306b\u3057\u3066\u3001\u682a\u5f0f\u8b72\u6e21\u4fa1\u683c\u3092\u7b97\u51fa\u3059\u308b\u65b9\u6cd5\u3067\u3059\u3002\u30cd\u30c3\u30c8\u30a2\u30bb\u30c3\u30c8\u30fb\u30a2\u30d7\u30ed\u30fc\u30c1\u3068\u3082\u547c\u3070\u308c\u3001\u8cb8\u501f\u5bfe\u7167\u8868\u306b\u8a18\u8f09\u3055\u308c\u3066\u3044\u308b\u8cc7\u7523\u3068\u8ca0\u50b5\u3092\u3082\u3068\u306b\u7d14\u8cc7\u7523\u3092\u8a08\u7b97\u3057\u3001\u305d\u306e\u984d\u3092\u3082\u3068\u306b\u682a\u4fa1\u3092\u7b97\u5b9a\u3057\u307e\u3059\u3002\u6bd4\u8f03\u7684\u30b7\u30f3\u30d7\u30eb\u3067\u308f\u304b\u308a\u3084\u3059\u3044\u53cd\u9762\u3001\u4f1a\u793e\u306e\u5c06\u6765\u306e\u6210\u9577\u3084\u53ce\u76ca\u6027\u3092\u8003\u616e\u3057\u3066\u3044\u306a\u3044\u70b9\u304c\u8ab2\u984c\u3067\u3059\u3002<\/p>\n\n\n\n<p 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has-link-color wp-elements-7480fd3a73149b2b0ead9b6181ec3879\">\u25b7\u95a2\u9023\uff1a<a href=\"https:\/\/mitsukijapan.com\/ma\/column\/whatistheannualpurchase\/\">\u5e74\u8cb7\u6cd5\u3068\u306f\uff1f\u5e74\u500d\u6cd5\u306e\u8a08\u7b97\u6cd5\u30fb\u306e\u308c\u3093\u306e\u9069\u6b63\u5e74\u6570\u3092\u8a73\u3057\u304f\u89e3\u8aac\uff01<\/a><\/p>\n\n\n\n<h4 class=\"wp-block-heading\">\u7c3f\u4fa1\u7d14\u8cc7\u7523\u6cd5<\/h4>\n\n\n\n<p>\u7c3f\u4fa1\u7d14\u8cc7\u7523\u6cd5\u306f\u3001\u4f1a\u793e\u306e\u8ca1\u52d9\u8af8\u8868\u306b\u8a18\u8f09\u3055\u308c\u3066\u3044\u308b\u5e33\u7c3f\u4fa1\u5024\uff08\u7c3f\u4fa1\uff09\u3092\u3082\u3068\u306b\u3001\u7d14\u8cc7\u7523\u984d\u3092\u7b97\u51fa\u3059\u308b\u65b9\u6cd5\u3067\u3059\u3002\u4fa1\u683c\u7b97\u51fa\u304c\u6bd4\u8f03\u7684\u5bb9\u6613\u306a\u9805\u76ee\u306b\u3064\u3044\u3066\u306f\u3001\u6642\u4fa1\u3067\u306e\u8a55\u4fa1\u3092\u884c\u3044\u307e\u3059\u3002\u7c3f\u4fa1\u7d14\u8cc7\u7523\u6cd5\u306f\u3001\u8a08\u7b97\u304c\u5bb9\u6613\u3067\u5ba2\u89b3\u6027\u304c\u3042\u308b\u70b9\u304c\u30e1\u30ea\u30c3\u30c8\u3067\u3059\u3002\u305f\u3060\u3057\u3001\u542b\u307f\u76ca\u30fb\u542b\u307f\u640d\u3092\u53cd\u6620\u3055\u305b\u3066\u3044\u306a\u3044\u305f\u3081\u3001\u5e33\u7c3f\u4fa1\u5024\u304c\u5b9f\u969b\u306e\u5e02\u5834\u4fa1\u5024\u3068\u7570\u306a\u308b\u5834\u5408\u304c\u3042\u308b\u70b9\u306b\u6ce8\u610f\u3057\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h3 id=\"arkb-toc-6\" class=\"wp-block-heading\">\u30de\u30fc\u30b1\u30c3\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1<\/h3>\n\n\n\n<p>\u30de\u30fc\u30b1\u30c3\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\u306f\u3001\u5bfe\u8c61\u3068\u306a\u308b\u4f1a\u793e\u306e\u540c\u696d\u4ed6\u793e\u306e\u682a\u5f0f\u306e\u4fa1\u5024\u3068\u6bd4\u8f03\u3057\u3066\u3001\u682a\u5f0f\u8b72\u6e21\u4fa1\u683c\u3092\u6c7a\u3081\u308b\u65b9\u6cd5\u3067\u3059\u3002\u540c\u696d\u4ed6\u793e\u306e\u682a\u4fa1\u3084\u53d6\u5f15\u4e8b\u4f8b\u3092\u53c2\u8003\u306b\u3057\u3066\u3001\u985e\u4f3c\u3059\u308b\u4f1a\u793e\u306e\u682a\u5f0f\u4fa1\u683c\u3092\u57fa\u6e96\u306b\u3001\u81ea\u793e\u306e\u682a\u4fa1\u3092\u7b97\u5b9a\u3057\u307e\u3059\u3002\u5e02\u5834\u306e\u52d5\u5411\u3084\u7af6\u4e89\u72b6\u6cc1\u3092\u53cd\u6620\u3057\u305f\u4fa1\u683c\u3067\u3001\u682a\u5f0f\u306e\u8b72\u6e21\u3092\u884c\u3048\u308b\u70b9\u304c\u7279\u5fb4\u3067\u3059\u3002<\/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<p>\u4ee3\u8868\u7684\u306a\u8a55\u4fa1\u65b9\u5f0f\u306f\u4ee5\u4e0b\u306e\u3088\u3046\u306a\u3082\u306e\u3067\u3059\u3002<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">\u985e\u4f3c\u4f1a\u793e\u6bd4\u8f03\u6cd5\uff08\u30de\u30eb\u30c1\u30d7\u30eb\u6cd5\uff09<\/h4>\n\n\n\n<p>\u30de\u30eb\u30c1\u30d7\u30eb\u6cd5\u306f\u3001\u985e\u4f3c\u4e0a\u5834\u4f01\u696d\u306e\u8ca1\u52d9\u6307\u6a19\u3092\u57fa\u306b\u5bfe\u8c61\u4f01\u696d\u306e\u4fa1\u5024\u3092\u7b97\u51fa\u3059\u308b\u65b9\u6cd5\u3067\u3059\u3002\u5177\u4f53\u7684\u306b\u306f\u3001\u985e\u4f3c\u4f01\u696d\u306e\u4f01\u696d\u4fa1\u5024\u3084\u682a\u4e3b\u4fa1\u5024\u3092\u58f2\u4e0a\u9ad8\u3084\u5229\u76ca\u3001EBITDA\u306a\u3069\u306eKPI\u3067\u5272\u3063\u3066\u5f97\u3089\u308c\u308b\u500d\u7387\uff08\u30de\u30eb\u30c1\u30d7\u30eb\uff09\u3092\u3001\u8a55\u4fa1\u5bfe\u8c61\u4f01\u696d\u306e\u540c\u3058KPI\u306b\u639b\u3051\u3066\u4f01\u696d\u4fa1\u5024\u3092\u63a8\u5b9a\u3057\u307e\u3059\u3002\u3053\u306e\u624b\u6cd5\u306f\u5ba2\u89b3\u6027\u304c\u9ad8\u304f\u3001\u8a08\u7b97\u304c\u6bd4\u8f03\u7684\u7c21\u5358\u3067\u3042\u308b\u305f\u3081\u3001\u7b2c\u4e09\u8005\u3068\u306eM&amp;A\u306e\u5b9f\u52d9\u3067\u3088\u304f\u4f7f\u7528\u3055\u308c\u307e\u3059\u3002\u305f\u3060\u3057\u3001\u500b\u5225\u306e\u4e8b\u60c5\u3092\u53cd\u6620\u3057\u306b\u304f\u3044\u3068\u3044\u3046\u30c7\u30e1\u30ea\u30c3\u30c8\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"has-arkb-anchor-color has-text-color has-link-color wp-elements-c2329c6eb0d4a5d0f751e3b50b4c46f3\">\u25b7\u95a2\u9023\uff1a<a href=\"https:\/\/mitsukijapan.com\/ma\/column\/comparablecompaniescomparison\/\">\u985e\u4f3c\u4f1a\u793e\u6bd4\u8f03\u6cd5\uff5c EBITDA\u30de\u30eb\u30c1\u30d7\u30eb\u6cd5\u306e\u6d41\u308c\u30fb\u8a08\u7b97\u65b9\u6cd5\u3068\u306f<\/a><\/p>\n\n\n\n<h4 class=\"wp-block-heading\">\u985e\u4f3c\u696d\u7a2e\u6bd4\u6e96\u6cd5<\/h4>\n\n\n\n<p>\u985e\u4f3c\u696d\u7a2e\u6bd4\u6e96\u6cd5\u306f\u3001\u5bfe\u8c61\u3068\u306a\u308b\u682a\u5f0f\u4f1a\u793e\u3068\u540c\u4e00\u696d\u7a2e\u30fb\u540c\u4e00\u898f\u6a21\u306e\u4f1a\u793e\u3092\u6bd4\u8f03\u3057\u3001\u5bfe\u8c61\u3068\u306a\u308b\u4f1a\u793e\u306e\u682a\u4fa1\u3084\u8ca1\u52d9\u60c5\u5831\u3092\u3082\u3068\u306b\u3001\u8a55\u4fa1\u984d\u3092\u7b97\u51fa\u3059\u308b\u65b9\u6cd5\u3067\u3059\u3002\u3053\u306e\u65b9\u6cd5\u3067\u306f\u3001\u5e02\u5834\u306b\u304a\u3051\u308b\u540c\u696d\u4ed6\u793e\u306e\u52d5\u5411\u3084\u8a55\u4fa1\u3092\u53c2\u8003\u306b\u3059\u308b\u3053\u3068\u3067\u3001\u516c\u6b63\u306a\u4fa1\u683c\u3092\u7b97\u5b9a\u3067\u304d\u307e\u3059\u3002\u985e\u4f3c\u696d\u7a2e\u6bd4\u6e96\u6cd5\u306f\u3001\u300c\u985e\u4f3c\u696d\u7a2e\u6bd4\u6e96\u4fa1\u984d\u8a08\u7b97\u4e0a\u306e\u696d\u7a2e\u76ee\u53ca\u3073\u696d\u7a2e\u76ee\u5225\u682a\u4fa1\u7b49\u300d\u306b\u3057\u305f\u304c\u3063\u3066\u7b97\u51fa\u3055\u308c\u308b\u305f\u3081\u3001\u4e00\u5b9a\u306e\u5ba2\u89b3\u6027\u3092\u6301\u3063\u3066\u3044\u308b\u70b9\u304c\u7279\u5fb4\u3067\u3059\u3002\u7a0e\u52d9\u4e0a\u306e\u8a55\u4fa1\u65b9\u5f0f\u306e\uff11\u3064\u3067\u3001\u540c\u65cf\u5185\u3067\u306e\u682a\u5f0f\u8b72\u6e21\u3067\u5229\u7528\u3055\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<h3 id=\"arkb-toc-7\" class=\"wp-block-heading\">\u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1<\/h3>\n\n\n\n<p>\u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\u306f\u3001\u5bfe\u8c61\u3068\u306a\u308b\u4f1a\u793e\u306e\u5c06\u6765\u306e\u5229\u76ca\u4e88\u60f3\u3084\u304a\u91d1\u306e\u6d41\u308c\u306e\u4e88\u60f3\u3092\u53c2\u8003\u306b\u3057\u3066\u3001\u682a\u4fa1\u8b72\u6e21\u4fa1\u683c\u3092\u7b97\u5b9a\u3059\u308b\u65b9\u6cd5\u3067\u3059\u3002\u5c06\u6765\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3084\u5229\u76ca\u3092\u4e88\u6e2c\u3057\u3001\u305d\u306e\u984d\u3092\u5272\u5f15\u7387\u3067\u5272\u308a\u5f15\u304f\u3053\u3068\u3067\u73fe\u5728\u306e\u4fa1\u5024\u3092\u7b97\u51fa\u3057\u3001\u305d\u306e\u984d\u3092\u57fa\u306b\u682a\u4fa1\u3092\u6c7a\u5b9a\u3057\u307e\u3059\u3002\u5c06\u6765\u306e\u30d3\u30b8\u30cd\u30b9\u5c55\u671b\u3092\u8003\u616e\u3067\u304d\u308b\u305f\u3081\u3001\u6210\u9577\u304c\u671f\u5f85\u3055\u308c\u308b\u4f01\u696d\u306e\u682a\u5f0f\u8a55\u4fa1\u306b\u6700\u9069\u3067\u3059\u3002<\/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<p>\u4f8b\u3048\u3070\u3001\u4ee5\u4e0b\u306e\u3088\u3046\u306a\u8a55\u4fa1\u65b9\u5f0f\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">DCF\u6cd5<\/h4>\n\n\n\n<p>DCF\u6cd5\uff08Discounted Cash Flow\uff09\u306f\u3001\u5bfe\u8c61\u4f01\u696d\u304c\u5c06\u6765\u306b\u304a\u3044\u3066\u751f\u307f\u51fa\u3059\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u4e88\u6e2c\u3057\u3001\u305d\u306e\u5408\u8a08\u984d\u3092\u73fe\u5728\u4fa1\u5024\u306b\u5272\u308a\u5f15\u3044\u3066\u3001\u4f01\u696d\u4fa1\u5024\u3092\u7b97\u5b9a\u3059\u308b\u65b9\u6cd5\u3067\u3059\u3002\u3053\u306e\u65b9\u6cd5\u306b\u304a\u3044\u3066\u306f\u3001\u672a\u6765\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u4e88\u6e2c\u304c\u91cd\u8981\u3067\u3001\u9069\u5207\u306a\u5272\u5f15\u7387\u306e\u9078\u5b9a\u304c\u6c42\u3081\u3089\u308c\u307e\u3059\u3002\u305d\u306e\u305f\u3081\u3001\u7cbe\u5ea6\u306e\u9ad8\u3044\u4e88\u6e2c\u3084\u9069\u5207\u306a\u5272\u5f15\u7387\u306e\u8a2d\u5b9a\u304c\u91cd\u8981\u306a\u30dd\u30a4\u30f3\u30c8\u3067\u3059\u3002\u682a\u5f0f\u8b72\u6e21\u306b\u3088\u308b\u30b7\u30ca\u30b8\u30fc\uff08\u76f8\u4e57\u52b9\u679c\uff09\u52b9\u679c\u3082\u4f01\u696d\u4fa1\u5024\u306b\u53cd\u6620\u3067\u304d\u308b\u70b9\u306f\u3001\u5927\u304d\u306a\u30e1\u30ea\u30c3\u30c8\u3068\u3044\u3048\u308b\u3067\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<p class=\"has-arkb-anchor-color has-text-color has-link-color wp-elements-498ea7bb27e0b3914a67817f6875b22c\">\u25b7\u95a2\u9023\uff1a<a href=\"https:\/\/mitsukijapan.com\/ma\/column\/what-is-the-dcf-method\/\">DCF\u6cd5\u3068\u306f\uff1f\u4f01\u696d\u4fa1\u5024\u306e\u8a08\u7b97\u5f0f\u30fb\u5272\u5f15\u7387\u3084\u30e1\u30ea\u30c3\u30c8\u30fb\u30c7\u30e1\u30ea\u30c3\u30c8<\/a><\/p>\n\n\n\n<h4 class=\"wp-block-heading\">\u914d\u5f53\u5272\u5f15\u30e2\u30c7\u30eb<\/h4>\n\n\n\n<p>\u914d\u5f53\u5272\u5f15\u30e2\u30c7\u30eb\u306f\u3001\u300c\u682a\u4fa1\u306e\u7406\u8ad6\u5024\u306f\u3001\u305d\u306e\u682a\u3092\u4fdd\u6709\u3057\u7d9a\u3051\u305f\u5834\u5408\u306b\u304a\u3044\u3066\u3001\u5c06\u6765\u652f\u6255\u308f\u308c\u308b\u914d\u5f53\u306e\u73fe\u5728\u4fa1\u5024\u306e\u5408\u8a08\u5024\u3067\u3042\u308b\u300d\u3068\u3044\u3046\u8003\u3048\u65b9\u306b\u57fa\u3065\u3044\u3066\u3001\u682a\u5f0f\u306e\u4fa1\u5024\u3092\u8a55\u4fa1\u3059\u308b\u65b9\u6cd5\u3067\u3059\u3002\u3053\u306e\u65b9\u6cd5\u3067\u306f\u3001\u904e\u53bb\u306e\u5ba2\u89b3\u7684\u6307\u6a19\u306b\u3088\u3063\u3066\u8a55\u4fa1\u984d\u3092\u7b97\u51fa\u3057\u307e\u3059\u3002\u305d\u306e\u305f\u3081\u3001\u6bd4\u8f03\u7684\u5bb9\u6613\u306b\u8a55\u4fa1\u984d\u3092\u7b97\u51fa\u53ef\u80fd\u3067\u3059\u3002\u305f\u3060\u3057\u3001\u914d\u5f53\u91d1\u984d\u3068\u8cc7\u672c\u91d1\u306e\u307f\u3067\u7b97\u51fa\u3059\u308b\u305f\u3081\u3001\u5ba2\u89b3\u6027\u306b\u6b20\u3051\u308b\u4e00\u9762\u3082\u3042\u308a\u307e\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<h2 id=\"arkb-toc-8\" class=\"wp-block-heading\">\u8b72\u6e21\u4fa1\u683c\u3092\u6c7a\u5b9a\u3059\u308b\u969b\u306e\u6ce8\u610f\u70b9<\/h2>\n\n\n\n<p>\u81ea\u793e\u682a\u3092\u8b72\u6e21\u3057\u3088\u3046\u3068\u3059\u308b\u969b\u306e\u4fa1\u683c\u306b\u95a2\u3059\u308b\u6ce8\u610f\u70b9\u306b\u3064\u3044\u3066\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h3 id=\"arkb-toc-9\" class=\"wp-block-heading\">\u6642\u4fa1\u3067\u682a\u5f0f\u8b72\u6e21\u3059\u308b\u3068\u304d<\/h3>\n\n\n\n<p>\u6642\u4fa1\u3067\u682a\u5f0f\u3092\u8b72\u6e21\u3059\u308b\u5834\u5408\u3082\u8ab2\u7a0e\u306e\u5bfe\u8c61\u3067\u3059\u3002\u305f\u3060\u3057\u3001\u500b\u4eba\u307e\u305f\u306f\u6cd5\u4eba\u304c\u682a\u5f0f\u8b72\u6e21\u3057\u3066\u3082\u3001\u8ab2\u7a0e\u3055\u308c\u308b\u306e\u306f\u3001\u8b72\u6e21\u5074\u306e\u307f\u3067\u3059\u3002\u500b\u4eba\u304b\u3089\u500b\u4eba\u3078\u306e\u5834\u5408\u306f\u6240\u5f97\u7a0e\uff08<a href=\"https:\/\/mitsukijapan.com\/ma\/column\/capital-gains-tax\/\" target=\"_blank\" rel=\"noreferrer noopener\"><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>\uff09\u3001\u500b\u4eba\u304b\u3089\u6cd5\u4eba\u3078\u306e\u5834\u5408\u306f\u6cd5\u4eba\u7a0e\u304c\u8ab2\u7a0e\u3055\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<h3 id=\"arkb-toc-10\" class=\"wp-block-heading\">\u4f4e\u984d\u8b72\u6e21\u3067\u682a\u5f0f\u8b72\u6e21\u3059\u308b\u3068\u304d<\/h3>\n\n\n\n<p><a href=\"https:\/\/mitsukijapan.com\/ma\/column\/explanation-of-the-advantages-and-disadvantages-of-free-stock-transfers-and-three-tax-considerations\/\" target=\"_blank\" rel=\"noreferrer noopener\"><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-arkb-anchor-color\">\u4f4e\u984d\u8b72\u6e21<\/mark><\/a>\u3068\u306f\u3001\u682a\u5f0f\u3092\u9069\u6b63\u306a\u6642\u4fa1\u3088\u308a\u3082\u4f4e\u3044\u4fa1\u683c\u3067\u8b72\u6e21\u3059\u308b\u3053\u3068\u3067\u3059\u3002\u4f4e\u984d\u8b72\u6e21\u306b\u304a\u3044\u3066\u3001\u6642\u4fa1\u3088\u308a\u3082\u4f4e\u3044\u4fa1\u683c\u3067\u682a\u5f0f\u3092\u8b72\u53d7\u3057\u305f\u5074\u306f\u3001\u5dee\u984d\u5206\u304c\u5229\u76ca\u3068\u307f\u306a\u3055\u308c\u307e\u3059\u3002\u305d\u306e\u305f\u3081\u3001\u5229\u76ca\u306b\u5bfe\u3057\u3066\u6240\u5f97\u7a0e\u304c\u8ab2\u7a0e\u3055\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<h3 id=\"arkb-toc-11\" class=\"wp-block-heading\">\u9ad8\u984d\u8b72\u6e21\u3067\u682a\u5f0f\u8b72\u6e21\u3059\u308b\u3068\u304d<\/h3>\n\n\n\n<p>\u9ad8\u984d\u8b72\u6e21\u3068\u306f\u3001\u682a\u5f0f\u3092\u305d\u306e\u6642\u4fa1\u3088\u308a\u3082\u9ad8\u3044\u4fa1\u683c\u3067\u8b72\u6e21\u3059\u308b\u3053\u3068\u3092\u6307\u3057\u307e\u3059\u3002\u3053\u306e\u65b9\u6cd5\u304c\u7528\u3044\u3089\u308c\u308b\u80cc\u666f\u306b\u306f\u3001\u7279\u5b9a\u306e\u4e8b\u696d\u6226\u7565\u3084\u5c06\u6765\u306e\u5c55\u671b\u304c\u5f71\u97ff\u3057\u3066\u3044\u308b\u5834\u5408\u304c\u3042\u308a\u307e\u3059\u3002\u9ad8\u984d\u8b72\u6e21\u304c\u884c\u308f\u308c\u308b\u80cc\u666f\u3084\u7406\u7531\u3092\u5341\u5206\u306b\u8aac\u660e\u3057\u3001\u95a2\u4fc2\u8005\u3068\u306e\u30b3\u30df\u30e5\u30cb\u30b1\u30fc\u30b7\u30e7\u30f3\u3092\u5bc6\u306b\u3057\u307e\u3057\u3087\u3046\u3002<br>\u307e\u305f\u3001\u500b\u4eba\u307e\u305f\u306f\u6cd5\u4eba\u306e\u8b72\u6e21\u5074\u306b\u306f\u3001\u6642\u4fa1\u3067\u682a\u5f0f\u8b72\u6e21\u3057\u305f\u5206\u3068\u3001\u6642\u4fa1\u3092\u8d85\u3048\u308b\u4fa1\u683c\u3067\u682a\u5f0f\u8b72\u6e21\u3057\u305f\u5206\u304c\u8ab2\u7a0e\u3055\u308c\u308b\u70b9\u306b\u3082\u6ce8\u610f\u304c\u5fc5\u8981\u3067\u3059\u3002<\/p>\n\n\n\n<h3 id=\"arkb-toc-12\" 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