{"id":2609,"date":"2026-05-18T16:07:23","date_gmt":"2026-05-18T07:07:23","guid":{"rendered":"https:\/\/mitsukijapan.com\/ma\/?post_type=column&p=2609"},"modified":"2026-06-05T16:18:39","modified_gmt":"2026-06-05T07:18:39","slug":"sme-ma-ebitda","status":"publish","type":"column","link":"https:\/\/mitsukijapan.com\/ma\/column\/sme-ma-ebitda\/","title":{"rendered":"\u4e2d\u5c0f\u4f01\u696dM&A\u306eEV\/EBITDA\u500d\u7387\uff5c\u8a08\u7b97\u3068\u696d\u7a2e\u5225\u306e\u76ee\u5b89"},"content":{"rendered":"\n

EV\/EBITDA\u500d\u7387\u306f\u3001\u4e2d\u5c0f\u4f01\u696dM&A\u306e\u8b72\u6e21\u4fa1\u683c\u4ea4\u6e09\u3067\u8cb7\u3044\u624b\u304c\u4f7f\u3046\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u6307\u6a19\u3067\u3059\u3002\u8a08\u7b97\u5f0f\u30fb\u696d\u7a2e\u5225\u306e\u500d\u7387\u76ee\u5b89\u30fbEBITDA\u8abf\u6574\u306e\u5b9f\u52d9\u307e\u3067\u3001\u4f1a\u793e\u58f2\u5374\u3092\u691c\u8a0e\u3059\u308b\u30aa\u30fc\u30ca\u30fc\u7d4c\u55b6\u8005\u306e\u8996\u70b9\u3067\u6574\u7406\u3057\u307e\u3057\u305f\u3002\u8cb7\u3044\u624b\u306e\u8a55\u4fa1\u30ed\u30b8\u30c3\u30af\u3092\u5148\u306b\u7406\u89e3\u3057\u3001\u9069\u6b63\u306a\u8b72\u6e21\u4fa1\u683c\u3092\u898b\u6975\u3081\u308b\u5224\u65ad\u8ef8\u304c\u624b\u306b\u5165\u308a\u307e\u3059\u3002<\/p>\n\n\n\n

\n
\n
\"\"<\/a><\/figure>\n<\/div>\n\n\n\n
\n
\"\"<\/a><\/figure>\n<\/div>\n<\/div>\n\n\n
\n\t\t
\u76ee\u6b21<\/div>\n\t\t
  1. EV\/EBITDA\u500d\u7387\u3068\u306f\uff5c\u4e2d\u5c0f\u4f01\u696dM&A\u3067\u6700\u3082\u4f7f\u308f\u308c\u308b\u6307\u6a19<\/a>
    1. \u8aad\u307f\u65b9\u3068\u57fa\u672c\u7684\u306a\u5b9a\u7fa9<\/a><\/li>
    2. \u300c\u7c21\u6613\u8cb7\u53ce\u500d\u7387\u300d\u3068\u3082\u547c\u3070\u308c\u308b\u7406\u7531<\/a><\/li>
    3. \u672c\u8a18\u4e8b\u306e\u524d\u63d0\u3068\u306a\u308b\u95a2\u9023\u77e5\u8b58<\/a><\/li><\/ol><\/li>
    4. EV\/EBITDA\u500d\u7387\u306e\u8a08\u7b97\u5f0f\u3068\u5177\u4f53\u4f8b<\/a>
      1. \u8a08\u7b97\u5f0f\u306e\u57fa\u672c\u5f62<\/a><\/li>
      2. \u5177\u4f53\u4f8b\u3067\u78ba\u8a8d\u3059\u308b<\/a><\/li>
      3. EV\u306f\u300c\u4e8b\u696d\u4fa1\u5024\u300d\u304b\u300c\u4f01\u696d\u4fa1\u5024\u300d\u304b<\/a><\/li><\/ol><\/li>
      4. \u30de\u30eb\u30c1\u30d7\u30eb\u6cd5\u306b\u304a\u3051\u308b\u4f4d\u7f6e\u3065\u3051<\/a>
        1. \u985e\u4f3c\u4f1a\u793e\u6bd4\u8f03\u6cd5\u306e\u4e2d\u3067\u306e\u5f79\u5272<\/a><\/li>
        2. DCF\u6cd5\u30fb\u30b3\u30b9\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\u3068\u306e\u4f4d\u7f6e\u95a2\u4fc2<\/a><\/li><\/ol><\/li>
        3. EV\/EBITDA\u500d\u7387\u306e\u696d\u7a2e\u5225\u306e\u76ee\u5b89<\/a>
          1. \u4e2d\u5c0f\u4f01\u696dM&A\u306e\u5b9f\u52e2\uff5c3\u301c5\u500d\u304c\u4e2d\u5fc3\u30ec\u30f3\u30b8<\/a><\/li>
          2. \u306a\u305c\u4e0a\u5834\u4f01\u696d\u3088\u308a\u4f4e\u304f\u51fa\u308b\u306e\u304b<\/a><\/li>
          3. \u4e0a\u5834\u4f1a\u793e\u306e\u696d\u754c\u5e73\u5747\uff08\u53c2\u8003\uff09<\/a><\/li><\/ol><\/li>
          4. \u4e2d\u5c0f\u4f01\u696dM&A\u3067\u4f7f\u3046\u500d\u7387\u3092\u88dc\u6b63\u3059\u308b\uff5cEBITDA\u8abf\u6574<\/a>
            1. \u5f79\u54e1\u5831\u916c\u306e\u6b63\u5e38\u5316<\/a><\/li>
            2. \u95a2\u9023\u4f1a\u793e\u53d6\u5f15\u30fb\u30aa\u30fc\u30ca\u30fc\u500b\u4eba\u7d4c\u8cbb\u306e\u8abf\u6574<\/a><\/li>
            3. \u4e00\u904e\u6027\u9805\u76ee\u306e\u9664\u5916<\/a><\/li>
            4. EBITDA\u8abf\u6574\u306e\u843d\u3068\u3057\u7a74<\/a><\/li><\/ol><\/li>
            5. \u8b72\u6e21\u4fa1\u683c\u4ea4\u6e09\u3067EV\/EBITDA\u500d\u7387\u3092\u3069\u3046\u4f7f\u3046\u304b<\/a>
              1. \u8cb7\u3044\u624b\u304c\u4f7f\u3046\u500d\u7387\u3092\u8aad\u307f\u89e3\u304f<\/a><\/li>
              2. \u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u6839\u62e0\u3092\u80fd\u52d5\u7684\u306b\u6e96\u5099\u3059\u308b<\/a><\/li>
              3. \u5358\u4e00\u6307\u6a19\u306b\u4f9d\u5b58\u3057\u306a\u3044\u30af\u30ed\u30b9\u30c1\u30a7\u30c3\u30af<\/a><\/li><\/ol><\/li>
              4. \u8b72\u6e21\u4fa1\u683c\u3092\u5e95\u4e0a\u3052\u3059\u308b\u305f\u3081\u306e\u4e8b\u524d\u6e96\u5099<\/a>
                1. EBITDA\u305d\u306e\u3082\u306e\u3092\u5897\u3084\u3059<\/a><\/li>
                2. \u9069\u7528\u3055\u308c\u308b\u500d\u7387\u81ea\u4f53\u3092\u5f15\u304d\u4e0a\u3052\u308b<\/a><\/li>
                3. \u975e\u4e8b\u696d\u7528\u8cc7\u7523\u306e\u6574\u7406<\/a><\/li><\/ol><\/li>
                4. EV\/EBITDA\u500d\u7387\u306b\u95a2\u3059\u308bFAQ<\/a><\/li>
                5. EV\/EBITDA\u500d\u7387\uff08\u30de\u30eb\u30c1\u30d7\u30eb\uff09\u306e\u307e\u3068\u3081<\/a><\/li><\/ol><\/li><\/ol>\n\t<\/div>\n\n\n

                  \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&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

                  \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

                  EV\/EBITDA\u500d\u7387\u3068\u306f\uff5c\u4e2d\u5c0f\u4f01\u696dM&A\u3067\u6700\u3082\u4f7f\u308f\u308c\u308b\u6307\u6a19<\/h2>\n\n\n\n

                  \u4f1a\u793e\u58f2\u5374\u306e\u521d\u671f\u691c\u8a0e\u3067\u3001\u8cb7\u3044\u624b\u304b\u3089\u300cEBITDA\u30de\u30eb\u30c1\u30d7\u30eb\u3067\u25cb\u500d\u300d\u3068\u8a00\u308f\u308c\u3066\u6238\u60d1\u3046\u30aa\u30fc\u30ca\u30fc\u7d4c\u55b6\u8005\u306f\u5c11\u306a\u304f\u3042\u308a\u307e\u305b\u3093\u3002EV\/EBITDA\u500d\u7387\u306f\u3001\u4e2d\u5c0f\u4f01\u696dM&A\u306e\u8b72\u6e21\u4fa1\u683c\u3092\u7d44\u307f\u7acb\u3066\u308b\u3046\u3048\u3067\u767b\u5834\u983b\u5ea6\u304c\u6975\u3081\u3066\u9ad8\u3044\u6307\u6a19\u3067\u3059\u3002\u307e\u305a\u306f\u4ed5\u7d44\u307f\u3092\u62bc\u3055\u3048\u3001\u81ea\u793e\u306e\u8b72\u6e21\u4fa1\u683c\u4ea4\u6e09\u306b\u6d3b\u304b\u305b\u308b\u5f62\u3067\u7406\u89e3\u3057\u3066\u304a\u304d\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n

                  \u8aad\u307f\u65b9\u3068\u57fa\u672c\u7684\u306a\u5b9a\u7fa9<\/h3>\n\n\n\n

                  EV\u306f\u300c\u30a4\u30fc\u30d6\u30a4\u300d\u3001EBITDA\u306f\u300c\u30a4\u30fc\u30d3\u30c3\u30c8\u30c7\u30a3\u30fc\u30a8\u30fc\u300d\u307e\u305f\u306f\u300c\u30a4\u30fc\u30d3\u30c3\u30c0\u30fc\u300d\u3068\u8aad\u307f\u307e\u3059\u3002EV\/EBITDA\u500d\u7387\u306f\u3001EV\uff08\u4e8b\u696d\u4fa1\u5024\uff09\u304cEBITDA\uff08\u511f\u5374\u524d\u55b6\u696d\u5229\u76ca\uff09\u306e\u4f55\u500d\u306b\u76f8\u5f53\u3059\u308b\u304b\u3092\u793a\u3059\u6bd4\u7387\u3067\u3059\u3002\u8cb7\u3044\u624b\u306e\u7acb\u5834\u3067\u8a00\u3044\u63db\u3048\u308b\u3068\u3001\u8cb7\u53ce\u306b\u5fc5\u8981\u306a\u8cc7\u91d1\u3092\u3001\u5bfe\u8c61\u4f1a\u793e\u304c\u751f\u307f\u51fa\u3059\u5e74\u9593\u30ad\u30e3\u30c3\u30b7\u30e5\u306e\u4f55\u5e74\u5206\u3067\u56de\u53ce\u3067\u304d\u308b\u304b\u3092\u793a\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n

                  \u300c\u7c21\u6613\u8cb7\u53ce\u500d\u7387\u300d\u3068\u3082\u547c\u3070\u308c\u308b\u7406\u7531<\/h3>\n\n\n\n

                  \u8b72\u53d7\u4f01\u696d\u306e\u793e\u5185\u7a1f\u8b70\u3067\u306f\u3001\u521d\u671f\u6bb5\u968e\u3067\u7cbe\u7dfb\u306aDCF\u6cd5\u3092\u56de\u3059\u524d\u306b\u3001\u307e\u305aEV\/EBITDA\u500d\u7387\u3067\u5927\u307e\u304b\u306a\u8b72\u6e21\u4fa1\u683c\u306e\u59a5\u5f53\u6027\u3092\u78ba\u8a8d\u3057\u307e\u3059\u3002\u5358\u306b\u300c\u30de\u30eb\u30c1\u30d7\u30eb\u300d\u6cd5\u3068\u3082\u547c\u3070\u308c\u3001\u4e16\u754c\u5171\u901a\u306e\u6bd4\u8f03\u6307\u6a19\u3068\u3057\u3066\u901a\u7528\u3059\u308b\u305f\u3081\u3001\u4e0a\u5834\u4f1a\u793e\u306e\u4e8b\u4f8b\u3068\u3082\u6a2a\u4e26\u3073\u3067\u8b70\u8ad6\u3067\u304d\u308b\u70b9\u304c\u91cd\u5b9d\u3055\u308c\u307e\u3059\u3002<\/p>\n\n\n\n

                  \u672c\u8a18\u4e8b\u306e\u524d\u63d0\u3068\u306a\u308b\u95a2\u9023\u77e5\u8b58<\/h3>\n\n\n\n

                  EBITDA\u306e\u8a08\u7b97\u5f0f\u3084\u55b6\u696d\u5229\u76ca\u3068\u306e\u9055\u3044\u306b\u3064\u3044\u3066\u306f\u3001EBITDA\u3068\u306f\uff5c\u610f\u5473\u30fb\u8aad\u307f\u65b9\u30fbM&A\u3067\u306e\u8a08\u7b97\u30fb\u55b6\u696d\u5229\u76ca\u3068\u306e\u9055\u3044<\/mark><\/a>\u3067\u6574\u7406\u3057\u3066\u3044\u307e\u3059\u3002\u4f01\u696d\u4fa1\u5024\u30fb\u4e8b\u696d\u4fa1\u5024\u30fb\u682a\u5f0f\u4fa1\u5024\u306e\u4e09\u5c64\u69cb\u9020\u3092\u8e0f\u307e\u3048\u305f\u3046\u3048\u3067\u8aad\u307f\u9032\u3081\u308b\u3068\u3001\u5f8c\u534a\u306e\u4ea4\u6e09\u8ad6\u70b9\u304c\u7406\u89e3\u3057\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n

                  EV\/EBITDA\u500d\u7387\u306e\u8a08\u7b97\u5f0f\u3068\u5177\u4f53\u4f8b<\/h2>\n\n\n\n

                  \u7528\u8a9e\u304c\u72ec\u308a\u6b69\u304d\u3057\u304c\u3061\u306aEV\/EBITDA\u500d\u7387\u3067\u3059\u304c\u3001\u8a08\u7b97\u5f0f\u305d\u306e\u3082\u306e\u306f\u30b7\u30f3\u30d7\u30eb\u3067\u3059\u3002\u4e2d\u5c0f\u4f01\u696dM&A\u306e\u5b9f\u52d9\u3067\u3082\u3001\u307b\u307c\u3053\u306e\u5f62\u304c\u8e0f\u8972\u3055\u308c\u307e\u3059\u3002<\/p>\n\n\n\n

                  \u8a08\u7b97\u5f0f\u306e\u57fa\u672c\u5f62<\/h3>\n\n\n\n

                  \u8a08\u7b97\u5f0f\u306f\u3001EV\u3092EBITDA\u3067\u5272\u308b\u3060\u3051\u3067\u3059\u3002\u4e0b\u8868\u306e\u69cb\u9020\u3092\u62bc\u3055\u3048\u308c\u3070\u3001\u8cb7\u3044\u624b\u304c\u793a\u3057\u3066\u304f\u308b\u8b72\u6e21\u4fa1\u683c\u306e\u6839\u62e0\u304c\u5206\u89e3\u3067\u304d\u307e\u3059\u3002<\/p>\n\n\n\n

                  \u9805\u76ee<\/th>\u8a08\u7b97\u5f0f<\/th>\u610f\u5473<\/th><\/tr><\/thead>
                  EV<\/strong><\/td>\u682a\u5f0f\u4fa1\u5024\uff0b\u6709\u5229\u5b50\u8ca0\u50b5\uff0d\u975e\u4e8b\u696d\u7528\u8cc7\u7523<\/td>\u4e8b\u696d\u3092\u4e38\u3054\u3068\u53d6\u5f97\u3059\u308b\u30b3\u30b9\u30c8<\/td><\/tr>
                  EBITDA<\/strong><\/td>\u55b6\u696d\u5229\u76ca\uff0b\u6e1b\u4fa1\u511f\u5374\u8cbb<\/td>\u672c\u696d\u304c\u751f\u3080\u30ad\u30e3\u30c3\u30b7\u30e5\u6982\u7b97<\/td><\/tr>
                  EV\/EBITDA\u500d\u7387<\/strong><\/td>EV \u00f7 EBITDA<\/td>\u6295\u8cc7\u56de\u53ce\u306b\u304b\u304b\u308b\u5e74\u6570\u306e\u76ee\u5b89<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
                  \"\u8a55\u4fa1\u5bfe\u8c61\u4f1a\u793e\u306eEBITDA\u306b\u985e\u4f3c\u4e0a\u5834\u4f1a\u793e\u306eEV\/EBITDA\u500d\u7387\u3092\u639b\u3051\u3066EV\uff08\u4e8b\u696d\u4fa1\u5024\u30fb\u4f01\u696d\u4fa1\u5024\uff09\u3092\u7b97\u5b9a\u3059\u308b\u30de\u30eb\u30c1\u30d7\u30eb\u6cd5\u306e\u8a08\u7b97\u56f3\u89e3\"<\/figure>\n\n\n\n

                  \u5177\u4f53\u4f8b\u3067\u78ba\u8a8d\u3059\u308b<\/h3>\n\n\n\n

                  \u4f8b\u3068\u3057\u3066\u3001A\u793e\u306e\u682a\u5f0f\u4fa1\u50245\u5104\u5186\u3001\u6709\u5229\u5b50\u8ca0\u50b51\u5104\u5186\u3001\u975e\u4e8b\u696d\u7528\u8cc7\u75234,000\u4e07\u5186\u3001\u55b6\u696d\u5229\u76ca6,000\u4e07\u5186\u3001\u6e1b\u4fa1\u511f\u5374\u8cbb2,000\u4e07\u5186\u3068\u3057\u307e\u3059\u3002<\/p>\n\n\n\n