{"id":85054,"date":"2025-09-09T15:21:09","date_gmt":"2025-09-09T06:21:09","guid":{"rendered":"https:\/\/biz.moneyforward.com\/accounting\/basic\/?p=85054"},"modified":"2025-09-09T15:21:09","modified_gmt":"2025-09-09T06:21:09","slug":"%e8%b2%a1%e5%8b%99%e3%83%ac%e3%83%90%e3%83%ac%e3%83%83%e3%82%b8%e3%81%a8%e3%81%af%ef%bc%9f%e6%84%8f%e5%91%b3%e3%83%bb%e8%a8%88%e7%ae%97%e5%bc%8f%e3%83%bb%e3%83%a1%e3%83%aa%e3%83%83%e3%83%88%e3%82%92","status":"publish","type":"post","link":"https:\/\/biz.moneyforward.com\/accounting\/basic\/85054\/","title":{"rendered":"\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u3068\u306f\uff1f\u610f\u5473\u30fb\u8a08\u7b97\u5f0f\u30fb\u30e1\u30ea\u30c3\u30c8\u3092\u308f\u304b\u308a\u3084\u3059\u304f\u89e3\u8aac"},"content":{"rendered":"

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<\/div>

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u3068\u306f\uff1f<\/h2>\n

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\u3053\u3053\u3067\u306f\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u306e\u57fa\u790e\u77e5\u8b58\u3092\u308f\u304b\u308a\u3084\u3059\u304f\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u306e\u610f\u5473\uff5c\u8cc7\u672c\u3092\u52b9\u7387\u3088\u304f\u4f7f\u3046\u529b\u3092\u793a\u3059<\/h3>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u3068\u306f\u3001\u4f01\u696d\u304c\u81ea\u5df1\u8cc7\u672c\u306b\u5bfe\u3057\u3066\u3001\u3069\u308c\u3060\u3051\u5916\u90e8\u8cc7\u672c\u3092\u6d3b\u7528\u3057\u3066\u3044\u308b\u304b\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002<\/b><\/span><\/p>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u306b\u3088\u3063\u3066\u8cc7\u91d1\u3092\u3069\u306e\u3088\u3046\u306b\u6d3b\u7528\u3057\u3066\u3044\u308b\u304b\u3092\u6e2c\u308a\u3001\u4f01\u696d\u306e\u8cc7\u91d1\u306e\u4f7f\u3044\u65b9\u3084\u3001\u4e8b\u696d\u306e\u30b9\u30b1\u30fc\u30eb\u3092\u6570\u5b57\u3067\u8aad\u307f\u89e3\u304f\u8996\u70b9\u304c\u53ef\u80fd\u3067\u3059\u3002<\/p>\n

\u3053\u3053\u3067\u3044\u3046\u5916\u90e8\u8cc7\u672c\u3068\u306f\u3001\u9280\u884c\u304b\u3089\u306e\u501f\u5165\u3084\u793e\u50b5\u306e\u767a\u884c\u306a\u3069\u3001\u81ea\u793e\u4ee5\u5916\u304b\u3089\u8abf\u9054\u3057\u305f\u8cc7\u672c\u3092\u6307\u3057\u307e\u3059\u3002<\/p>\n

\u305f\u3068\u3048\u3070\u3001\u81ea\u5df1\u8cc7\u672c\u3060\u3051\u3067100\u4e07\u5186\u306e\u4e8b\u696d\u3092\u884c\u3046\u4f01\u696d\u3068\u3001\u501f\u5165\u3092\u6d3b\u7528\u3057\u3066500\u4e07\u5186\u306e\u4e8b\u696d\u3092\u5c55\u958b\u3059\u308b\u4f01\u696d\u3068\u3067\u306f\u3001\u8cc7\u91d1\u306e\u304b\u3051\u65b9\u3084\u30ea\u30b9\u30af\u306e\u3068\u308a\u65b9\u304c\u307e\u3063\u305f\u304f\u7570\u306a\u308a\u307e\u3059\u3002<\/p>\n

\u5f8c\u8005\u306e\u3088\u3046\u306b\u3001\u5916\u90e8\u8cc7\u672c\u3092\u6d3b\u7528\u3057\u3066\u81ea\u5df1\u8cc7\u672c\u4ee5\u4e0a\u306e\u6210\u679c\u3092\u751f\u307f\u51fa\u305d\u3046\u3068\u3059\u308b\u52d5\u304d\u3092\u3001\u300c\u3066\u3053\u306e\u539f\u7406\uff08leverage\uff09\u300d\u306b\u306a\u305e\u3089\u3048\u3066\u8868\u73fe\u3057\u305f\u8a00\u8449\u304c\u300c\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u300d\u3067\u3059\u3002<\/p>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u304c\u9ad8\u3044\u307b\u3069\u3001\u8cc7\u91d1\u52b9\u7387\u3092\u9ad8\u3081\u3084\u3059\u304f\u306a\u308b\u4e00\u65b9\u3067\u3001\u8fd4\u6e08\u30ea\u30b9\u30af\u3084\u5012\u7523\u30ea\u30b9\u30af\u3082\u5927\u304d\u304f\u306a\u308b\u50be\u5411\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n

\u3064\u307e\u308a\u3053\u306e\u6307\u6a19\u306f\u3001\u7d4c\u55b6\u5206\u6790\u3084\u6295\u8cc7\u5224\u65ad\u306e\u969b\u306b\u3082\u91cd\u8996\u3055\u308c\u308b\u3001\u57fa\u672c\u304b\u3064\u91cd\u8981\u306a\u6982\u5ff5\u3067\u3059\u3002<\/p>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u306e\u8a08\u7b97\u5f0f\uff5c\u7dcf\u8cc7\u672c \u00f7 \u81ea\u5df1\u8cc7\u672c\u3067\u304a\u91d1\u306e\u304b\u3051\u65b9\u304c\u308f\u304b\u308b<\/h3>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u3092\u6c42\u3081\u308b\u8a08\u7b97\u5f0f\u306f\u3001\u300c\u7dcf\u8cc7\u672c<\/a> \u00f7 \u81ea\u5df1\u8cc7\u672c\u300d\u3067\u3059\u3002<\/b><\/span><\/p>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8 \uff1d \u7dcf\u8cc7\u672c \u00f7 \u81ea\u5df1\u8cc7\u672c<\/strong><\/div>\n

\u7dcf\u8cc7\u672c\u3068\u306f\u3001\u81ea\u5df1\u8cc7\u672c\uff08\u4f1a\u793e\u304c\u3082\u3068\u3082\u3068\u6301\u3063\u3066\u3044\u308b\u304a\u91d1\uff09\u306b\u3001\u501f\u5165\u91d1<\/a>\u306a\u3069\u306e\u5916\u90e8\u8cc7\u91d1\u3092\u52a0\u3048\u305f\u300c\u4f1a\u793e\u304c\u4f7f\u3048\u308b\u8cc7\u91d1\u306e\u5408\u8a08\u300d\u3092\u6307\u3057\u307e\u3059\u3002<\/p>\n

\u305f\u3068\u3048\u3070\u3001\u7dcf\u8cc7\u672c\u304c1,000\u4e07\u5186\u3067\u81ea\u5df1\u8cc7\u672c\u304c400\u4e07\u5186\u306e\u5834\u5408\u3001\u300c1,000 \u00f7 400\u300d\u3067\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u306f2.5\u500d\u3068\u306a\u308a\u307e\u3059\u3002\u3053\u308c\u306f\u3001\u81ea\u5df1\u8cc7\u672c\u306e2.5\u500d\u306e\u8cc7\u91d1\u3092\u4f7f\u3063\u3066\u4e8b\u696d\u3092\u884c\u3063\u3066\u3044\u308b\u3068\u3044\u3046\u610f\u5473\u3067\u3059\u3002<\/p>\n

\u307e\u305f\u3001\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u306f\u300c1 \u00f7 \u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u300d\u3067\u3082\u6c42\u3081\u3089\u308c\u307e\u3059\u3002<\/p>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8 \uff1d 1 \u00f7 \u81ea\u5df1\u8cc7\u672c\u6bd4\u7387<\/strong><\/div>\n

\u305f\u3068\u3048\u3070\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u304c40%\uff08\uff1d0.4\uff09\u306a\u3089\u30011 \u00f7 0.4 \uff1d 2.5\u500d\u3067\u3059\u3002<\/p>\n

\u3064\u307e\u308a\u3001\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u304c\u4f4e\u304f\u306a\u308b\u307b\u3069\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u306f\u9ad8\u304f\u306a\u308b\u305f\u3081\u3001\u4e21\u8005\u306f\u8868\u88cf\u4e00\u4f53\u306e\u95a2\u4fc2\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n

\u30b7\u30f3\u30d7\u30eb\u306a\u5f0f\u3067\u3059\u304c\u3001\u4f01\u696d\u304c\u3069\u308c\u3060\u3051\u30ea\u30b9\u30af\u3092\u3068\u3063\u3066\u8cc7\u91d1\u3092\u6d3b\u7528\u3057\u3066\u3044\u308b\u304b\u3092\u898b\u629c\u304f\u3046\u3048\u3067\u91cd\u8981\u306a\u6307\u6a19\u3067\u3059\u3002<\/p>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u306e\u5e73\u5747\u5024\uff5c\u696d\u7a2e\u3084\u4f01\u696d\u30d5\u30a7\u30fc\u30ba\u306b\u3088\u3063\u3066\u5909\u52d5\u3059\u308b<\/h3>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u306e\u5e73\u5747\u5024\u306f\u3001\u696d\u7a2e\u3084\u4f01\u696d\u30d5\u30a7\u30fc\u30ba\u306b\u3088\u3063\u3066\u5927\u304d\u304f\u7570\u306a\u308a\u307e\u3059\u3002<\/b><\/span><\/p>\n

\u305f\u3068\u3048\u3070\u88fd\u9020\u696d\u3084\u5efa\u8a2d\u696d\u306a\u3069\u8a2d\u5099\u6295\u8cc7\u306e\u6bd4\u91cd\u304c\u5927\u304d\u3044\u696d\u7a2e\u3067\u306f\u3001\u4ed6\u4eba\u8cc7\u672c\u3092\u6d3b\u7528\u3057\u3066\u30ec\u30d0\u30ec\u30c3\u30b8\u304c\u9ad8\u3081\u306b\u51fa\u308b\u50be\u5411\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n

\u30d9\u30f3\u30c1\u30e3\u30fc\u4f01\u696d<\/a>\u3084\u6210\u9577\u30d5\u30a7\u30fc\u30ba\u306e\u4f01\u696d\u3082\u3001\u8cc7\u91d1\u8abf\u9054<\/a>\u306b\u3088\u3063\u3066\u81ea\u5df1\u8cc7\u672c\u3088\u308a\u4ed6\u4eba\u8cc7\u672c\u304c\u5897\u3048\u3001\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u304c\u9ad8\u304f\u306a\u308a\u3084\u3059\u3044\u3067\u3059\u3002<\/p>\n

\u3055\u3089\u306b\u3001\u91d1\u878d\u6a5f\u95a2\u306e\u3088\u3046\u306b\u9ad8\u3044\u30ec\u30d0\u30ec\u30c3\u30b8\u304c\u8a31\u5bb9\u3055\u308c\u308b\u696d\u754c\u3082\u3042\u308a\u3001\u4e00\u5f8b\u306e\u300c\u7406\u60f3\u5024\u300d\u3092\u5f53\u3066\u306f\u3081\u308b\u306e\u306f\u9069\u5207\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n

\u4e2d\u5c0f\u4f01\u696d\u5e81\u306e\u300c\u4e2d\u5c0f\u4f01\u696d\u5b9f\u614b\u57fa\u672c\u8abf\u67fb\uff08\u4ee4\u548c6\u5e74\u78ba\u5831\uff0f\u4ee4\u548c5\u5e74\u5ea6\u6c7a\u7b97\u5b9f\u7e3e\uff09\u300d\u306b\u3088\u308b\u3068\u3001\u4e3b\u898111\u696d\u7a2e\u306b\u304a\u3051\u308b\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u306e\u5e73\u5747\u306f2.25\u500d\u3067\u3057\u305f\u3002<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u7523\u696d<\/th>\n\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8<\/th>\n<\/tr>\n<\/thead>\n
\u5efa\u8a2d\u696d<\/td>\n2.10<\/td>\n<\/tr>\n
\u88fd\u9020\u696d<\/td>\n2.01<\/td>\n<\/tr>\n
\u60c5\u5831\u901a\u4fe1\u696d<\/td>\n1.80<\/td>\n<\/tr>\n
\u904b\u8f38\u696d\u3001\u90f5\u4fbf\u696d<\/td>\n2.73<\/td>\n<\/tr>\n
\u5378\u58f2\u696d<\/td>\n2.30<\/td>\n<\/tr>\n
\u5c0f\u58f2\u696d<\/td>\n2.78<\/td>\n<\/tr>\n
\u4e0d\u52d5\u7523\u696d\u3001\u7269\u54c1\u8cc3\u8cb8\u696d<\/td>\n2.49<\/td>\n<\/tr>\n
\u5b66\u8853\u7814\u7a76\u3001\u5c02\u9580\u30fb\u6280\u8853\u30b5\u30fc\u30d3\u30b9\u696d<\/td>\n1.52<\/td>\n<\/tr>\n
\u5bbf\u6cca\u696d\uff0c\u98f2\u98df\u30b5\u30fc\u30d3\u30b9\u696d<\/td>\n6.25<\/td>\n<\/tr>\n
\u751f\u6d3b\u95a2\u9023\u30b5\u30fc\u30d3\u30b9\u696d\u3001\u5a2f\u697d\u696d<\/td>\n2.89<\/td>\n<\/tr>\n
\u30b5\u30fc\u30d3\u30b9\u696d\uff08\u4ed6\u306b\u5206\u985e\u3055\u308c\u306a\u3044\u3082\u306e\uff09<\/td>\n2.22<\/td>\n<\/tr>\n
\u5e73\u5747\u5024<\/td>\n2.25<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u696d\u7a2e\u5225\u306b\u898b\u3066\u3082\u3070\u3089\u3064\u304d\u304c\u3042\u308a\u3001\u5bbf\u6cca\u696d\u30fb\u98f2\u98df\u30b5\u30fc\u30d3\u30b9\u696d\u306f6.25\u500d\u3068\u6700\u3082\u9ad8\u304f\u3001\u5b66\u8853\u7814\u7a76\u30fb\u5c02\u9580\u6280\u8853\u30b5\u30fc\u30d3\u30b9\u696d\u306f1.52\u500d\u3068\u4f4e\u6c34\u6e96\u3067\u3059\u3002<\/p>\n

\u30c7\u30fc\u30bf\u3068\u7167\u3089\u3057\u5408\u308f\u305b\u308b\u969b\u306f\u3001\u300c\u696d\u7a2e\u7279\u6027\u300d\u3084\u300c\u4f01\u696d\u306e\u6210\u9577\u6bb5\u968e\u300d\u306a\u3069\u80cc\u666f\u8981\u56e0\u3082\u3075\u307e\u3048\u3066\u3001\u7dcf\u5408\u7684\u306b\u5224\u65ad\u3059\u308b\u8996\u70b9\u304c\u5927\u5207\u3067\u3059\u3002<\/p>\n

\u53c2\u8003\uff1a\u4e2d\u5c0f\u4f01\u696d\u5b9f\u614b\u57fa\u672c\u8abf\u67fb<\/a><\/p>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u3067\u5224\u65ad\uff01\u6210\u9577\u6226\u7565\u306e\u30dd\u30a4\u30f3\u30c8<\/h2>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u306f\u3001\u4f01\u696d\u306e\u300c\u5b89\u5168\u6027\u300d\u3068\u300c\u6210\u9577\u6027\u300d\u306e\u30d0\u30e9\u30f3\u30b9\u3092\u898b\u6975\u3081\u308b\u305f\u3081\u306e\u91cd\u8981\u306a\u6307\u6a19\u3067\u3059\u3002<\/b><\/span><\/p>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u304c\u9ad8\u3044\u4f01\u696d\u307b\u3069\u3001\u81ea\u5df1\u8cc7\u672c\u306b\u5bfe\u3057\u3066\u501f\u5165\u306e\u5272\u5408\u304c\u5927\u304d\u304f\u3001\u501f\u5165\u91d1\u3092\u6d3b\u7528\u3057\u305f\u6210\u9577\u6226\u7565\u3092\u3068\u3063\u3066\u3044\u308b\u50be\u5411\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n

\u524d\u63d0\u3068\u306a\u308b\u8ca0\u50b5\u6bd4\u7387\u306f\u3001\u81ea\u5df1\u8cc7\u672c\u306b\u5bfe\u3057\u3066\u3001\u3069\u308c\u304f\u3089\u3044\u306e\u8ca0\u50b5\u304c\u3042\u308b\u304b\u3092\u793a\u3059\u6570\u5024\u3067\u3059\u3002<\/p>\n

\u8ca0\u50b5\u6bd4\u7387\u306e\u8a08\u7b97\u5f0f\u306f\u300c\u8ca0\u50b5 \u00f7 \u81ea\u5df1\u8cc7\u672c\u300d\u3067\u3001\u8ca0\u50b5\u304c\u81ea\u5df1\u8cc7\u672c\u306e2\u500d\u3042\u308c\u3070\u3001\u8ca0\u50b5\u6bd4\u7387\u306f200\uff05\u3068\u7b97\u51fa\u3055\u308c\u307e\u3059 \u306a\u308a\u307e\u3059\u3002<\/p>\n

\u8ca0\u50b5\u6bd4\u7387\u304c\u9ad8\u307e\u308b\u3068\u3001\u30ec\u30d0\u30ec\u30c3\u30b8\u52b9\u679c\u306b\u3088\u3063\u3066\u81ea\u5df1\u8cc7\u672c\u3042\u305f\u308a\u306e\u5229\u76ca\u3092\u9ad8\u3081\u308b\u30c1\u30e3\u30f3\u30b9\u304c\u5e83\u304c\u308b\u4e00\u65b9\u3067\u3001\u8fd4\u6e08\u8ca0\u62c5\u306e\u5897\u52a0\u3084\u8ca1\u52d9\u60aa\u5316\u306b\u3088\u308b\u5012\u7523\u30ea\u30b9\u30af\u3092\u62b1\u3048\u308b\u72b6\u6cc1\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n

\u53cd\u5bfe\u306b\u3001\u8ca0\u50b5\u6bd4\u7387\u304c\u4f4e\u3059\u304e\u308b\u3068\u8ca1\u52d9\u306e\u5b89\u5b9a\u6027\u306f\u78ba\u4fdd\u3055\u308c\u308b\u3082\u306e\u306e\u3001\u501f\u5165\u3092\u6d3b\u7528\u3057\u305f\u8cc7\u91d1\u52b9\u7387\u306e\u5411\u4e0a\u3084\u6210\u9577\u6a5f\u4f1a\u3092\u9003\u3057\u3066\u3057\u307e\u3046\u6050\u308c\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n

\u305d\u306e\u305f\u3081\u3001\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u3084\u8ca0\u50b5\u6bd4\u7387\u306e\u6570\u5024\u306f\u3001\u5358\u7d14\u306a\u9ad8\u4f4e\u3060\u3051\u3067\u306f\u8a55\u4fa1\u3067\u304d\u307e\u305b\u3093\u3002<\/p>\n

\u4f01\u696d\u306e\u6210\u9577\u30b9\u30c6\u30fc\u30b8\u3084\u6295\u8cc7\u6226\u7565\u3092\u3075\u307e\u3048\u3001\u300c\u8ca1\u52d9\u306e\u5b89\u5168\u6027\u300d\u3068\u300c\u6210\u9577\u6226\u7565\u300d\u306e\u30d0\u30e9\u30f3\u30b9\u3092\u3069\u3046\u3068\u308b\u304b\u304c\u91cd\u8981\u306a\u5224\u65ad\u8ef8\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u3092\u9ad8\u3081\u308b\u30e1\u30ea\u30c3\u30c8<\/h2>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u3092\u9ad8\u3081\u308b\u3053\u3068\u3067\u3001\u81ea\u5df1\u8cc7\u672c\u3060\u3051\u3067\u306f\u96e3\u3057\u3044\u4e8b\u696d\u62e1\u5927\u3092\u53ef\u80fd\u306b\u3057\u305f\u308a\u3001\u8cc7\u672c\u52b9\u7387<\/a>\u3092\u6539\u5584\u3057\u305f\u308a\u3068\u3001\u4f01\u696d\u306b\u3068\u3063\u3066\u3055\u307e\u3056\u307e\u306a\u30e1\u30ea\u30c3\u30c8\u304c\u3042\u308a\u307e\u3059\u3002<\/b><\/span><\/p>\n

\u3053\u3053\u3067\u306f\u4e3b\u306b\u300c\u6210\u9577\u30b9\u30d4\u30fc\u30c9\u300d\u300cROE\uff08\u81ea\u5df1\u8cc7\u672c\u5229\u76ca\u7387<\/a>\uff09\u306e\u5411\u4e0a\u300d\u300c\u8cc7\u672c\u30b3\u30b9\u30c8\u306e\u6700\u9069\u5316\u300d\u306e3\u3064\u306e\u30e1\u30ea\u30c3\u30c8\u306b\u6ce8\u76ee\u3057\u3066\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n

\u8a2d\u5099\u6295\u8cc7\u3084\u4e8b\u696d\u62e1\u5927\u3092\u5b9f\u73fe\u3067\u304d\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b<\/h3>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u3092\u9ad8\u3081\u308b\u30e1\u30ea\u30c3\u30c8\u306e\u3072\u3068\u3064\u304c\u3001\u81ea\u5df1\u8cc7\u672c\u3060\u3051\u3067\u306f\u96e3\u3057\u3044\u5927\u898f\u6a21\u306a\u8a2d\u5099\u6295\u8cc7\u3084\u65b0\u898f\u4e8b\u696d\u3078\u306e\u5c55\u958b\u3092\u5b9f\u73fe\u3067\u304d\u308b\u70b9\u3067\u3059\u3002<\/b><\/span><\/p>\n

\u501f\u5165\u306b\u3088\u3063\u3066\u3088\u308a\u591a\u304f\u306e\u8cc7\u91d1\u3092\u8abf\u9054\u3067\u304d\u308c\u3070\u3001\u9650\u3089\u308c\u305f\u81ea\u5df1\u8cc7\u91d1\u3067\u52d5\u304b\u3059\u3088\u308a\u3082\u6210\u9577\u30b9\u30d4\u30fc\u30c9\u3092\u52a0\u901f\u3067\u304d\u307e\u3059\u3002<\/p>\n

\u7279\u306b\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u3084\u6210\u9577\u30d5\u30a7\u30fc\u30ba\u306b\u3042\u308b\u4f01\u696d\u3067\u306f\u3001\u5e02\u5834\u30b7\u30a7\u30a2\u306e\u78ba\u4fdd\u3084\u7af6\u5408\u3068\u306e\u5dee\u5225\u5316\u3092\u56f3\u308b\u3046\u3048\u3067\u3001\u30bf\u30a4\u30df\u30f3\u30b0\u3092\u9003\u3055\u306a\u3044\u5148\u884c\u6295\u8cc7\u304c\u4e0d\u53ef\u6b20\u3067\u3059\u3002<\/p>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u3092\u6d3b\u7528\u3059\u308c\u3070\u3001\u8cc7\u91d1\u9700\u8981\u306b\u3082\u67d4\u8edf\u306b\u5bfe\u5fdc\u3067\u304d\u307e\u3059\u3002<\/p>\n

\u305f\u3068\u3048\u3070\u3001\u751f\u7523\u80fd\u529b\u3092\u62e1\u5927\u3059\u308b\u305f\u3081\u306e\u5de5\u5834\u5efa\u8a2d\u3084\u3001\u4eba\u6750\u63a1\u7528\u30fb\u5e83\u544a\u51fa\u7a3f\u306a\u3069\u306e\u6226\u7565\u7684\u65bd\u7b56\u3082\u3001\u5c06\u6765\u7684\u306a\u5229\u76ca\u3092\u898b\u8d8a\u3057\u3066\u7a4d\u6975\u7684\u306b\u5b9f\u884c\u53ef\u80fd\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n

\u3082\u3061\u308d\u3093\u3001\u8fd4\u6e08\u30ea\u30b9\u30af\u3084\u91d1\u5229\u8ca0\u62c5\u3082\u3042\u308b\u305f\u3081\u3001\u7dbf\u5bc6\u306a\u8cc7\u91d1\u8a08\u753b\u3068\u53ce\u76ca\u898b\u901a\u3057\u3092\u7acb\u3066\u305f\u3046\u3048\u3067\u6d3b\u7528\u3059\u308b\u59ff\u52e2\u304c\u91cd\u8981\u3067\u3059\u3002<\/p>\n

\u8ca1\u52d9\u6307\u6a19ROE\uff08\u81ea\u5df1\u8cc7\u672c\u5229\u76ca\u7387\uff09\u304c\u5411\u4e0a\u3059\u308b<\/h3>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u3092\u6d3b\u7528\u3059\u308b\u3068\u3001\u81ea\u5df1\u8cc7\u672c\u306b\u5bfe\u3059\u308b\u5229\u76ca\u306e\u6bd4\u7387\u3092\u793a\u3059ROE\uff08\u81ea\u5df1\u8cc7\u672c\u5229\u76ca\u7387\uff09\u304c\u9ad8\u307e\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002<\/b><\/span><\/p>\n

\u305f\u3068\u3048\u3070\u3001\u501f\u5165\u306b\u3088\u3063\u3066\u4e8b\u696d\u3092\u62e1\u5927\u3057\u3001\u305d\u306e\u5206\u3060\u3051\u5229\u76ca\u3092\u5897\u3084\u305b\u3070\u3001\u5c11\u306a\u3044\u81ea\u5df1\u8cc7\u672c\u3067\u5927\u304d\u306a\u6210\u679c\u3092\u51fa\u305b\u308b\u69cb\u56f3\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n

ROE\u304c\u9ad8\u3044\u4f01\u696d\u306f\u3001\u682a\u4e3b\u304b\u3089\u300c\u52b9\u7387\u3088\u304f\u5229\u76ca\u3092\u4e0a\u3052\u3066\u3044\u308b\u4f01\u696d\u300d\u3068\u8a55\u4fa1\u3055\u308c\u3084\u3059\u304f\u3001\u6295\u8cc7\u9762\u306b\u304a\u3044\u3066\u9b45\u529b\u7684\u3067\u3059\u3002<\/p>\n

\u7279\u306b\u4e0a\u5834\u4f01\u696d\u3067\u306f\u3001ROE\u306f\u91cd\u8981\u306a\u7d4c\u55b6\u6307\u6a19\u3068\u3055\u308c\u3066\u304a\u308a\u3001\u682a\u4fa1\u3084\u682a\u4e3b\u9084\u5143\u65b9\u91dd\u306b\u5f71\u97ff\u3059\u308b\u30b1\u30fc\u30b9\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n

\u305f\u3060\u3057\u3001\u5229\u76ca\u306e\u6210\u9577\u304c\u3068\u3082\u306a\u308f\u306a\u3044\u307e\u307e\u501f\u5165\u3060\u3051\u3092\u5897\u3084\u3057\u3066ROE\u3092\u9ad8\u3081\u3088\u3046\u3068\u3059\u308b\u3068\u3001\u5c06\u6765\u7684\u306b\u8ca1\u52d9\u8ca0\u62c5\u304c\u81a8\u3089\u3080\u30ea\u30b9\u30af\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n

\u3042\u304f\u307e\u3067\u6301\u7d9a\u7684\u306a\u5229\u76ca\u5275\u51fa\u3092\u524d\u63d0\u3068\u3057\u305f\u6d3b\u7528\u304c\u6c42\u3081\u3089\u308c\u307e\u3059\u3002<\/p>\n

\u8ca1\u52d9\u52b9\u7387\u5316\u3068\u8cc7\u672c\u30b3\u30b9\u30c8\u4f4e\u6e1b\u306e\u53cc\u65b9\u306b\u3064\u306a\u304c\u308b<\/h3>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u3092\u6d3b\u7528\u3059\u308c\u3070\u3001\u8cc7\u672c\u30b3\u30b9\u30c8\u306e\u5f15\u304d\u4e0b\u3052\u306b\u3082\u3064\u306a\u304c\u308a\u307e\u3059\u3002<\/b><\/span><\/p>\n

\u81ea\u5df1\u8cc7\u672c\u306b\u306f\u3001\u914d\u5f53\u3084\u682a\u4e3b\u306e\u671f\u5f85\u30ea\u30bf\u30fc\u30f3\u3068\u3044\u3063\u305f\u300c\u898b\u3048\u306b\u304f\u3044\u30b3\u30b9\u30c8\u300d\u304c\u5b58\u5728\u3057\u307e\u3059\u3002<\/p>\n

\u305d\u306e\u305f\u3081\u3001\u501f\u5165\u91d1\u306e\u91d1\u5229\u304c\u81ea\u5df1\u8cc7\u672c\u30b3\u30b9\u30c8\u3088\u308a\u3082\u4f4e\u3051\u308c\u3070\u3001\u5168\u4f53\u3068\u3057\u3066\u306e\u8cc7\u672c\u30b3\u30b9\u30c8\u3092\u6291\u3048\u308b\u53d6\u308a\u7d44\u307f\u304c\u53ef\u80fd\u3067\u3059\u3002<\/p>\n

\u8abf\u9054\u30d0\u30e9\u30f3\u30b9\u306e\u5de5\u592b\u306b\u3088\u3063\u3066\u3001WACC\uff08\u52a0\u91cd\u5e73\u5747\u8cc7\u672c\u30b3\u30b9\u30c8\uff09\u306e\u6700\u9069\u5316\u3092\u56f3\u308b\u3053\u3068\u304c\u3067\u304d\u3001\u7d50\u679c\u7684\u306b\u4f01\u696d\u4fa1\u5024\u306e\u5411\u4e0a\u306b\u5bc4\u4e0e\u3059\u308b\u30b1\u30fc\u30b9\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n

\u305f\u3060\u3057\u3001\u91d1\u5229\u4e0a\u6607\u5c40\u9762\u3067\u306f\u501f\u5165\u30b3\u30b9\u30c8\u304c\u9ad8\u304f\u306a\u308b\u305f\u3081\u3001\u9577\u671f\u7684\u306a\u8996\u70b9\u3067\u8abf\u9054\u6226\u7565\u3092\u7d44\u3080\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u3092\u9ad8\u3081\u308b\u30c7\u30e1\u30ea\u30c3\u30c8<\/h2>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u306b\u306f\u6210\u9577\u52a0\u901f\u306a\u3069\u306e\u5229\u70b9\u304c\u3042\u308b\u4e00\u65b9\u3067\u3001\u501f\u5165\u91d1\u306e\u5897\u52a0\u306b\u3068\u3082\u306a\u3046\u8fd4\u6e08\u8ca0\u62c5\u3084\u5012\u7523\u30ea\u30b9\u30af\u306e\u4e0a\u6607\u3068\u3044\u3063\u305f\u6ce8\u610f\u70b9\u3082\u3042\u308a\u307e\u3059\u3002<\/b><\/span><\/p>\n

\u3053\u3053\u3067\u306f\u3001\u7d4c\u55b6\u4e0a\u306e\u30ea\u30b9\u30af\u3084\u4fe1\u7528\u9762\u3078\u306e\u5f71\u97ff\u306a\u3069\u3001\u30ec\u30d0\u30ec\u30c3\u30b8\u6d3b\u7528\u6642\u306b\u7559\u610f\u3059\u3079\u304d\u30c7\u30e1\u30ea\u30c3\u30c8\u3092\u308f\u304b\u308a\u3084\u3059\u304f\u6574\u7406\u3057\u307e\u3059\u3002<\/p>\n

\u8ca1\u52d9\u8ca0\u62c5\u3092\u5897\u52a0\u3055\u305b\u308b\u30ea\u30b9\u30af\u304c\u3042\u308b<\/h3>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u306e\u30c7\u30e1\u30ea\u30c3\u30c8\u3068\u3057\u3066\u3001\u8ca1\u52d9\u8ca0\u62c5\u306e\u5897\u52a0\u30ea\u30b9\u30af\u304c\u6319\u3052\u3089\u308c\u307e\u3059\u3002<\/b><\/span><\/p>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u306e\u9ad8\u307e\u308a\u306f\u3001\u501f\u5165\u91d1\u6bd4\u7387\u306e\u5897\u52a0\u50be\u5411\u3092\u610f\u5473\u3057\u3066\u304a\u308a\u3001\u8fd4\u6e08\u7fa9\u52d9\u3084\u5229\u606f\u306e\u652f\u6255\u3044\u306f\u56fa\u5b9a\u8cbb<\/a>\u3068\u3057\u3066\u4f01\u696d\u306b\u306e\u3057\u304b\u304b\u308a\u307e\u3059\u3002<\/p>\n

\u305f\u3068\u3048\u58f2\u4e0a\u304c\u4f38\u3073\u60a9\u3093\u3060\u3068\u3057\u3066\u3082\u652f\u6255\u3044\u3092\u514d\u308c\u308b\u3053\u3068\u306f\u3067\u304d\u307e\u305b\u3093\u3002<\/p>\n

\u5229\u76ca\u7387\u304c\u4f4e\u3044\u5834\u5408\u3084\u4e00\u6642\u7684\u306b\u8d64\u5b57\u306b\u8ee2\u843d\u3057\u305f\u5834\u5408\u306b\u306f\u3001\u8cc7\u91d1\u7e70\u308a<\/a>\u304c\u53b3\u3057\u304f\u306a\u308a\u3001\u65e5\u3005\u306e\u904b\u8ee2\u8cc7\u91d1\u3084\u652f\u6255\u539f\u8cc7\u3092\u78ba\u4fdd\u3059\u308b\u306e\u304c\u56f0\u96e3\u306b\u306a\u308b\u30ea\u30b9\u30af\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n

\u7279\u306b\u4e2d\u5c0f\u4f01\u696d\u3084\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u306e\u5834\u5408\u3001\u91d1\u878d\u4f53\u529b\u306b\u4e4f\u3057\u3044\u5834\u9762\u3082\u591a\u3044\u305f\u3081\u3001\u904e\u5ea6\u306a\u30ec\u30d0\u30ec\u30c3\u30b8\u306f\u9006\u52b9\u679c\u306b\u306a\u308a\u304b\u306d\u307e\u305b\u3093\u3002<\/p>\n

\u8cc7\u91d1\u8abf\u9054\u306b\u3042\u305f\u3063\u3066\u306f\u3001\u5c06\u6765\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u51b7\u9759\u306b\u898b\u6975\u3081\u305f\u3046\u3048\u3067\u3001\u8fd4\u6e08\u53ef\u80fd\u306a\u7bc4\u56f2\u306b\u7559\u3081\u308b\u30d0\u30e9\u30f3\u30b9\u611f\u899a\u304c\u4e0d\u53ef\u6b20\u3067\u3059\u3002<\/p>\n

\u666f\u6c17\u5909\u52d5\u3084\u696d\u7e3e\u60aa\u5316\u6642\u306e\u5012\u7523\u30ea\u30b9\u30af\u304c\u4e0a\u6607\u3059\u308b<\/h3>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u3092\u9ad8\u3081\u308b\u3082\u3046\u4e00\u3064\u306e\u30c7\u30e1\u30ea\u30c3\u30c8\u306f\u3001\u666f\u6c17\u5909\u52d5\u3084\u696d\u7e3e\u60aa\u5316\u6642\u306b\u3088\u308b\u5012\u7523\u30ea\u30b9\u30af\u306e\u4e0a\u6607\u3067\u3059\u3002<\/b><\/span><\/p>\n

\u53ce\u76ca\u304c\u5b89\u5b9a\u3057\u3066\u3044\u308b\u9593\u306f\u30ec\u30d0\u30ec\u30c3\u30b8\u3092\u6d3b\u304b\u3057\u3066\u6210\u9577\u3067\u304d\u307e\u3059\u304c\u3001\u696d\u7e3e\u304c\u60aa\u5316\u3057\u305f\u9014\u7aef\u3001\u8cc7\u91d1\u7e70\u308a\u304c\u4e00\u6c17\u306b\u82e6\u3057\u304f\u306a\u308b\u6050\u308c\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n

\u305f\u3068\u3048\u3070\u3001\u9700\u8981\u306e\u6025\u6e1b\u3084\u539f\u6750\u6599\u4fa1\u683c\u306e\u9ad8\u9a30\u306a\u3069\u3067\u60f3\u5b9a\u4ee5\u4e0a\u306b\u58f2\u4e0a\u304c\u6e1b\u5c11\u3057\u3001\u501f\u5165\u91d1\u306e\u8fd4\u6e08\u304c\u56f0\u96e3\u306b\u306a\u308b\u30b1\u30fc\u30b9\u3082\u898b\u3089\u308c\u307e\u3059\u3002<\/p>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u306f\u4f01\u696d\u306e\u6210\u9577\u3092\u52a0\u901f\u3055\u305b\u308b\u4e00\u65b9\u3067\u3001\u60f3\u5b9a\u5916\u306e\u4e8b\u614b\u306b\u8010\u3048\u308b\u67d4\u8edf\u6027\u3092\u640d\u306a\u3046\u53ef\u80fd\u6027\u3082\u3042\u308b\u305f\u3081\u3001\u30ea\u30b9\u30af\u3078\u306e\u5099\u3048\u304c\u91cd\u8981\u3067\u3059\u3002<\/p>\n

\u878d\u8cc7\u5be9\u67fb\u3084\u682a\u4e3b\u304b\u3089\u306e\u4fe1\u7528\u30ea\u30b9\u30af\u306b\u3064\u306a\u304c\u308b<\/h3>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u304c\u9ad8\u304f\u306a\u308b\u3068\u3001\u91d1\u878d\u6a5f\u95a2\u304b\u3089\u306e\u878d\u8cc7\u5be9\u67fb\u3067\u614e\u91cd\u306a\u76ee\u3092\u5411\u3051\u3089\u308c\u308b\u30b1\u30fc\u30b9\u304c\u3042\u308a\u307e\u3059\u3002<\/b><\/span><\/p>\n

\u501f\u5165\u904e\u591a\u306e\u72b6\u614b\u306f\u300c\u8fd4\u6e08\u4f59\u529b\u304c\u9650\u3089\u308c\u3066\u3044\u308b\u300d\u3068\u5224\u65ad\u3055\u308c\u3001\u8ffd\u52a0\u878d\u8cc7\u3092\u53d7\u3051\u306b\u304f\u304f\u306a\u308b\u8981\u56e0\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n

\u307e\u305f\u3001\u682a\u4e3b\u3084\u6295\u8cc7\u5bb6\u3068\u3044\u3063\u305f\u5916\u90e8\u306e\u30b9\u30c6\u30fc\u30af\u30db\u30eb\u30c0\u30fc\u306b\u3068\u3063\u3066\u3082\u3001\u30ec\u30d0\u30ec\u30c3\u30b8\u306e\u9ad8\u3055\u306f\u30ea\u30b9\u30af\u8981\u56e0\u306e\u3072\u3068\u3064\u3067\u3059\u3002<\/p>\n

\u4f01\u696d\u306e\u81ea\u5df1\u8cc7\u672c\u304c\u5c11\u306a\u304f\u3001\u8ca0\u50b5\u306b\u4f9d\u5b58\u3057\u3066\u3044\u308b\u69cb\u9020\u306f\u3001\u666f\u6c17\u60aa\u5316\u6642\u306e\u5b89\u5b9a\u6027\u306b\u4e0d\u5b89\u3092\u62b1\u304b\u305b\u308b\u6750\u6599\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n

\u7279\u306b\u4e2d\u9577\u671f\u3067\u306e\u6210\u9577\u3092\u91cd\u8996\u3059\u308b\u682a\u4e3b\u306f\u3001\u5b89\u5b9a\u3057\u305f\u8ca1\u52d9\u57fa\u76e4\u3084\u5065\u5168\u306a\u8cc7\u672c\u69cb\u6210\u3092\u6c42\u3081\u308b\u50be\u5411\u304c\u3042\u308a\u3001\u30ec\u30d0\u30ec\u30c3\u30b8\u304c\u9ad8\u3059\u304e\u308b\u3068\u30cd\u30ac\u30c6\u30a3\u30d6\u306a\u8a55\u4fa1\u306b\u3064\u306a\u304c\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n

\u3082\u3061\u308d\u3093\u3001\u30ec\u30d0\u30ec\u30c3\u30b8\u306e\u6d3b\u7528\u305d\u306e\u3082\u306e\u304c\u60aa\u3044\u308f\u3051\u3067\u306f\u306a\u3044\u305f\u3081\u3001\u7d4c\u55b6\u6226\u7565\u3084\u4e8b\u696d\u30d5\u30a7\u30fc\u30ba\u306b\u5fdc\u3058\u305f\u3001\u9069\u5207\u306a\u6c34\u6e96\u3092\u898b\u6975\u3081\u308b\u53d6\u308a\u7d44\u307f\u304c\u5927\u5207\u3067\u3059\u3002<\/p>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u95a2\u9023\u306e\u3088\u304f\u3042\u308b\u7591\u554f3\u3064<\/h2>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u306f\u7d4c\u55b6\u5224\u65ad\u306b\u3082\u5f71\u97ff\u3059\u308b\u91cd\u8981\u306a\u6307\u6a19\u3067\u3059\u3002<\/b><\/span><\/p>\n

\u3057\u304b\u3057\u3001\u6df7\u540c\u3055\u308c\u3084\u3059\u3044\u7528\u8a9e\u3084\u8aa4\u89e3\u3082\u3044\u304f\u3064\u304b\u3042\u308a\u307e\u3059\u3002<\/p>\n

\u3053\u3053\u3067\u306f\u3001\u3088\u304f\u3042\u308b\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u95a2\u9023\u306e\u7591\u554f3\u3064\u3092\u53d6\u308a\u4e0a\u3052\u3001\u4ed5\u7d44\u307f\u3084\u4f7f\u3044\u65b9\u3092\u4e01\u5be7\u306b\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u306e\u9ad8\u3055\u306f\u4f01\u696d\u6210\u9577\u306b\u5fc5\u8981\uff1f<\/h3>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u306e\u9ad8\u3055\u306f\u3001\u4f01\u696d\u6210\u9577\u306b\u3068\u3063\u3066\u5fc5\u305a\u3057\u3082\u5fc5\u8981\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/b><\/span><\/p>\n

\u305f\u3060\u3057\u3001\u6210\u9577\u6226\u7565\u306b\u3088\u3063\u3066\u306f\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u3092\u9ad8\u3081\u308b\u53d6\u308a\u7d44\u307f\u304c\u6709\u52b9\u306a\u624b\u6bb5\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u3092\u6d3b\u7528\u3059\u308c\u3070\u3001\u9650\u3089\u308c\u305f\u81ea\u5df1\u8cc7\u672c\u3067\u4e8b\u696d\u898f\u6a21\u3092\u62e1\u5927\u3067\u304d\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n

\u3057\u304b\u3057\u3001\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u306e\u6d3b\u7528\u306f\u3001\u3042\u304f\u307e\u3067\u6210\u9577\u3092\u52a0\u901f\u3059\u308b\u305f\u3081\u306e\u9078\u629e\u80a2\u306e\u3072\u3068\u3064\u3067\u3059\u3002<\/p>\n

\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u3084\u62e1\u5927\u671f\u306e\u4f01\u696d\u3067\u306f\u3001\u5c06\u6765\u306e\u53ce\u76ca\u3092\u898b\u8fbc\u3093\u3067\u5148\u884c\u6295\u8cc7\u3092\u884c\u3046\u5fc5\u8981\u304c\u3042\u308b\u305f\u3081\u3001\u3042\u308b\u7a0b\u5ea6\u306e\u30ea\u30b9\u30af\u3092\u3068\u3063\u3066\u501f\u5165\u3092\u6d3b\u7528\u3059\u308b\u5834\u9762\u3082\u60f3\u5b9a\u3055\u308c\u307e\u3059\u3002<\/p>\n

\u4e00\u65b9\u3067\u3001\u6210\u719f\u4f01\u696d\u3084\u5b89\u5b9a\u7684\u306a\u7d4c\u55b6\u3092\u5fd7\u5411\u3059\u308b\u30d5\u30a7\u30fc\u30ba\u3067\u306f\u3001\u7121\u7406\u306b\u30ec\u30d0\u30ec\u30c3\u30b8\u3092\u9ad8\u3081\u308b\u5fc5\u8981\u306f\u306a\u304f\u3001\u5065\u5168\u306a\u8ca1\u52d9\u4f53\u8cea\u3092\u7dad\u6301\u3059\u308b\u59ff\u52e2\u306e\u65b9\u304c\u91cd\u8996\u3055\u308c\u307e\u3059\u3002<\/p>\n

\u3064\u307e\u308a\u3001\u4f01\u696d\u306e\u72b6\u6cc1\u3084\u65b9\u91dd\u306b\u5fdc\u3058\u305f\u6700\u9069\u306a\u30d0\u30e9\u30f3\u30b9\u306e\u898b\u6975\u3081\u304c\u91cd\u8981\u3067\u3059\u3002<\/p>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u3068\u8ca0\u50b5\u6bd4\u7387\u30fbD\/E\u30ec\u30b7\u30aa\u306e\u9055\u3044\u306f\uff1f<\/h3>\n

\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u3068\u8ca0\u50b5\u6bd4\u7387\u30fbD\/E\u30ec\u30b7\u30aa\u306f\u3001\u3044\u305a\u308c\u3082\u8cc7\u672c\u69cb\u6210\u306b\u95a2\u3059\u308b\u6307\u6a19\u3067\u3059\u3002<\/b><\/span><\/p>\n

\u3057\u304b\u3057\u3001\u305d\u308c\u305e\u308c\u7740\u76ee\u3059\u308b\u30dd\u30a4\u30f3\u30c8\u3084\u8a08\u7b97\u5f0f\u304c\u7570\u306a\u308a\u307e\u3059\u3002<\/p>\n

\u307e\u305a\u3001\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u306f\u81ea\u5df1\u8cc7\u672c\u306b\u5bfe\u3057\u3066\u3069\u308c\u3060\u3051\u8cc7\u7523\u3092\u6d3b\u7528\u3057\u3066\u3044\u308b\u304b\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002<\/p>\n

\u8cc7\u7523\u3092\u591a\u304f\u6301\u3061\u306a\u304c\u3089\u81ea\u5df1\u8cc7\u672c\u304c\u5c11\u306a\u3044\u307b\u3069\u3001\u30ec\u30d0\u30ec\u30c3\u30b8\u52b9\u679c\u304c\u9ad8\u3044\u3068\u5224\u65ad\u3055\u308c\u307e\u3059\u3002<\/p>\n

\u4e00\u65b9\u3001\u8ca0\u50b5\u6bd4\u7387\u306f\u8ca0\u50b5\u3092\u81ea\u5df1\u8cc7\u672c\u3067\u5272\u3063\u305f\u3082\u306e\u3067\u3001\u3069\u308c\u3060\u3051\u4ed6\u4eba\u8cc7\u672c\u306b\u4f9d\u5b58\u3057\u3066\u3044\u308b\u304b\u3092\u793a\u3059\u6307\u6a19\u3067\u3059\u3002<\/p>\n

\u307e\u305f\u3001D\/E\u30ec\u30b7\u30aa\uff08Debt\/Equity Ratio\uff09\u306f\u3001\u6709\u5229\u5b50\u8ca0\u50b5\u3092\u81ea\u5df1\u8cc7\u672c\u3067\u5272\u3063\u3066\u7b97\u51fa\u3055\u308c\u3001\u8ca1\u52d9\u306e\u5065\u5168\u6027\u3092\u6e2c\u308b\u305f\u3081\u306b\u7528\u3044\u3089\u308c\u307e\u3059\u3002\u6570\u5024\u304c\u4f4e\u3044\u307b\u3069\u5b89\u5b9a\u3057\u3066\u3044\u308b\u3068\u89e3\u8aac\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u3088\u308a\u7cbe\u5ea6\u306e\u9ad8\u3044\u8ca1\u52d9\u5206\u6790\u3092\u76ee\u6307\u3059\u306a\u3089\u3001\u305d\u308c\u305e\u308c\u306e\u6307\u6a19\u304c\u793a\u3059\u30ea\u30b9\u30af\u3084\u7acb\u3061\u4f4d\u7f6e\u306e\u9055\u3044\u3092\u628a\u63e1\u3057\u3066\u304a\u304d\u307e\u3057\u3087\u3046\u3002<\/p>\n

ROE\uff08\u81ea\u5df1\u8cc7\u672c\u5229\u76ca\u7387\uff09\u3068\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u306e\u95a2\u4fc2\u6027\u306f\uff1f<\/h3>\n

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