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#ffff99;\"><b>NPV\u3068IRR\uff08\u5185\u90e8\u53ce\u76ca\u7387\uff09\u306f\u3001\u6295\u8cc7\u8a55\u4fa1\u306e\u4e21\u8f2a\u3067\u3059\u3002<\/b><\/span>NPV\u304c\u30bc\u30ed\u306b\u306a\u308b\u5272\u5f15\u7387\u304cIRR\u3067\u3059\u3002<\/p>\n<p><strong>\u6295\u8cc7\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u306e\u7dcf\u5408\u8a55\u4fa1\uff1a<\/strong><\/p>\n<p>NPV\u8a08\u7b97\uff1a=NPV(\u8981\u6c42\u53ce\u76ca\u7387, CF\u7bc4\u56f2) + \u521d\u671f\u6295\u8cc7<\/p>\n<p>IRR\u8a08\u7b97\uff1a=IRR(\u521d\u671f\u6295\u8cc7\u3092\u542b\u3080CF\u7bc4\u56f2)<\/p>\n<p><strong>\u5224\u65ad\u57fa\u6e96\uff1a<\/strong><\/p>\n<p>NPV &gt; 0 \u304b\u3064 IRR &gt; \u8981\u6c42\u53ce\u76ca\u7387 \u2192 \u6295\u8cc7\u5b9f\u884c<\/p>\n<h3>\u611f\u5ea6\u5206\u6790\u306e\u5b9f\u65bd<\/h3>\n<p><span style=\"background-color: #ffff99;\"><b>\u5272\u5f15\u7387\u3084\u5c06\u6765\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u5909\u52d5\u304cNPV\u306b\u4e0e\u3048\u308b\u5f71\u97ff\u3092\u5206\u6790\u3057\u307e\u3059\u3002<\/b><\/span><\/p>\n<p><strong>\u5272\u5f15\u7387\u306e\u611f\u5ea6\u5206\u6790\u30c6\u30fc\u30d6\u30eb\uff1a<\/strong><\/p>\n<p>\u5272\u5f15\u73875%\uff1a\u00a0 =NPV(0.05, $B$2:$B$6) + $B$1<\/p>\n<p>\u5272\u5f15\u73878%\uff1a\u00a0 =NPV(0.08, $B$2:$B$6) + $B$1<\/p>\n<p>\u5272\u5f15\u738710%\uff1a =NPV(0.10, $B$2:$B$6) + $B$1<\/p>\n<p>\u5272\u5f15\u738712%\uff1a =NPV(0.12, $B$2:$B$6) + $B$1<\/p>\n<p>\u5272\u5f15\u738715%\uff1a =NPV(0.15, $B$2:$B$6) + $B$1<\/p>\n<p>\u30c7\u30fc\u30bf\u30c6\u30fc\u30d6\u30eb\u6a5f\u80fd\u3092\u4f7f\u7528\u3059\u308b\u3053\u3068\u3067\u3001\u81ea\u52d5\u7684\u306b\u611f\u5ea6\u5206\u6790\u8868\u3092\u4f5c\u6210\u3067\u304d\u307e\u3059\u3002<\/p>\n<h3>\u30b7\u30ca\u30ea\u30aa\u5206\u6790\u3067\u306e\u6d3b\u7528<\/h3>\n<p><span style=\"background-color: 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1000%\u3068\u3057\u3066\u8a08\u7b97\u3055\u308c\u308b<\/p>\n<p>\u6b63\uff1a=NPV(0.1, CF\u7bc4\u56f2) \u00a0 \u00a0 \/\/ 10%\u3068\u3057\u3066\u6b63\u3057\u304f\u8a08\u7b97<\/p>\n<p>\u6b63\uff1a=NPV(10%, CF\u7bc4\u56f2) \u00a0 \u00a0 \/\/ %\u8a18\u53f7\u3092\u4f7f\u7528<\/p>\n<h3>\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u7b26\u53f7\u30df\u30b9<\/h3>\n<p><span style=\"background-color: #ffff99;\"><b>\u53ce\u5165\u3068\u652f\u51fa\u306e\u7b26\u53f7\u3092\u7d71\u4e00\u7684\u306b\u7ba1\u7406\u3059\u308b\u3053\u3068\u304c\u91cd\u8981\u3067\u3059\u3002<\/b><\/span><\/p>\n<p>\u521d\u671f\u6295\u8cc7\uff1a\u5fc5\u305a\u30de\u30a4\u30ca\u30b9\uff08-\uff09<\/p>\n<p>\u53ce\u5165\uff1a\u30d7\u30e9\u30b9\uff08+\uff09<\/p>\n<p>\u904b\u55b6\u8cbb\u7528\uff1a\u30de\u30a4\u30ca\u30b9\uff08-\uff09<\/p>\n<p>\u7d14\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\uff1a\u53ce\u5165 &#8211; 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CF1\u306f\u5272\u5f15\u304b\u306a\u3044<\/p>\n<h3>\u5b9f\u8cea\u5024\u3068\u540d\u76ee\u5024\u306e\u6df7\u5728<\/h3>\n<p><span style=\"background-color: #ffff99;\"><b>\u30a4\u30f3\u30d5\u30ec\u3092\u8003\u616e\u3059\u308b\u5834\u5408\u3001\u3059\u3079\u3066\u306e\u5024\u3092\u5b9f\u8cea\u5024\u304b\u540d\u76ee\u5024\u306b\u7d71\u4e00\u3059\u308b\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/b><\/span><\/p>\n<p>\u540d\u76ee\u5272\u5f15\u7387 = (1 + \u5b9f\u8cea\u5272\u5f15\u7387) \u00d7 (1 + \u30a4\u30f3\u30d5\u30ec\u7387) &#8211; 1<\/p>\n<p>\u5b9f\u8ceaCF = \u540d\u76eeCF \/ (1 + \u30a4\u30f3\u30d5\u30ec\u7387)^\u671f\u6570<\/p>\n<p><strong>\u7d71\u4e00\u6027\u30c1\u30a7\u30c3\u30af\uff1a<\/strong><\/p>\n<p>=IF(AND(\u5272\u5f15\u7387\u30bf\u30a4\u30d7=&#8221;\u540d\u76ee&#8221;, CF\u30bf\u30a4\u30d7=&#8221;\u540d\u76ee&#8221;), &#8220;OK&#8221;, &#8220;\u8b66\u544a\uff1a\u7d71\u4e00\u3055\u308c\u3066\u3044\u307e\u305b\u3093&#8221;)<\/p>\n<h2>NPV\u95a2\u6570\u306f\u3001\u6295\u8cc7\u5224\u65ad\u306e\u57fa\u6e96\u3092\u793a\u3059<\/h2>\n<p>NPV\u95a2\u6570\u306f\u3001\u5c06\u6765\u306b\u5f97\u3089\u308c\u308b\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u6307\u5b9a\u3057\u305f\u5272\u5f15\u7387\u3067\u73fe\u5728\u4fa1\u5024\u306b\u63db\u7b97\u3057\u3001\u6b63\u5473\u73fe\u5728\u4fa1\u5024\uff08Net Present Value\uff09\u3092\u7b97\u51fa\u3059\u308b\u3053\u3068\u3067\u3001\u6295\u8cc7\u306e\u53ce\u76ca\u6027\u3092\u8a55\u4fa1\u3057\u307e\u3059\u3002<\/p>\n<p>\u6295\u8cc7\u5224\u65ad\u306b\u304a\u3044\u3066NPV\u304c\u30d7\u30e9\u30b9\u3067\u3042\u308c\u3070\u7d4c\u6e08\u7684\u306b\u5b9f\u884c\u4fa1\u5024\u304c\u3042\u308b\u3068\u3055\u308c\u3001\u8a2d\u5099\u6295\u8cc7\u3084\u65b0\u898f\u4e8b\u696d\u3001M&amp;A\u3001\u4e0d\u52d5\u7523\u6295\u8cc7\u306a\u3069\u5e45\u5e83\u3044\u5206\u91ce\u3067\u6d3b\u7528\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u521d\u671f\u6295\u8cc7\u306f\u671f\u521d\u767a\u751f\u3068\u307f\u306a\u3057\u3066\u5225\u9014\u52a0\u7b97\u3059\u308b\u3053\u3068\u304c\u91cd\u8981\u3067\u3042\u308a\u3001IRR\u95a2\u6570\u3084\u611f\u5ea6\u5206\u6790\u3068\u306e\u7d44\u307f\u5408\u308f\u305b\u306b\u3088\u308a\u3001\u4e0d\u78ba\u5b9f\u6027\u3092\u8003\u616e\u3057\u305f\u9ad8\u5ea6\u306a\u30b7\u30ca\u30ea\u30aa\u8a55\u4fa1\u3082\u53ef\u80fd\u3067\u3059\u3002NPV\u95a2\u6570\u3092\u4f7f\u3044\u3053\u306a\u3059\u3053\u3068\u3067\u3001\u3088\u308a\u5b9a\u91cf\u7684\u3067\u5408\u7406\u7684\u306a\u610f\u601d\u6c7a\u5b9a\u304c\u5b9f\u73fe\u3067\u304d\u307e\u3059\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NPV\u95a2\u6570\u306f\u3001\u5c06\u6765\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u73fe\u5728\u4fa1\u5024\u306b\u5272\u308a\u5f15\u3044\u3066\u3001\u6295\u8cc7\u306e\u6b63\u5473\u73fe\u5728\u4fa1\u5024\u3092\u8a08\u7b97\u3059\u308b\u30a8\u30af\u30bb\u30eb\u306e\u8ca1\u52d9\u95a2\u6570\u3067\u3059\u3002\u6b63\u5473\u73fe\u5728\u4fa1\u5024\uff08Net Present Value\uff09\u306f\u3001\u6295\u8cc7\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u306e\u53ce\u76ca\u6027\u3092\u8a55\u4fa1\u3059\u308b\u6700\u3082\u91cd\u8981\u306a\u6307\u6a19\u306e\u4e00\u3064 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