{"id":220,"date":"2026-08-25T12:29:26","date_gmt":"2026-08-25T03:29:26","guid":{"rendered":"https:\/\/sonokane.net\/?p=220"},"modified":"2026-08-25T12:29:29","modified_gmt":"2026-08-25T03:29:29","slug":"%e3%80%902026%e5%b9%b48%e6%9c%88%e7%99%ba%e8%a1%a8%e3%83%bb4%e3%80%9c6%e6%9c%88%e6%9c%9f%e6%b1%ba%e7%ae%97%e3%80%91%e4%bd%8f%e5%8f%8b%e9%87%91%e5%b1%9e%e9%89%b1%e5%b1%b1%ef%bc%885713%ef%bc%89%e3%81%ae","status":"publish","type":"post","link":"https:\/\/sonokane.net\/?p=220","title":{"rendered":"\u30102026\u5e748\u6708\u767a\u8868\u30fb4\u301c6\u6708\u671f\u6c7a\u7b97\u3011\u4f4f\u53cb\u91d1\u5c5e\u9271\u5c71\uff085713\uff09\u306e\u6700\u7d42\u5229\u76ca\u304c3.2\u500d\u3002\u3067\u3082\u3001\u6398\u3063\u305f\u91cf\u306f\u6e1b\u3063\u3066\u3044\u307e\u3057\u305f"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">\u672c\u8a18\u4e8b\u306f2026\u5e748\u6708\u6642\u70b9\u306e\u516c\u958b\u60c5\u5831\u306b\u57fa\u3065\u304f\u500b\u4eba\u306e\u5206\u6790\u30e1\u30e2\u3067\u3059\u3002\u57f7\u7b46\u306b\u306f\u751f\u6210AI\u3092\u5229\u7528\u3057\u3066\u3044\u307e\u3059\u304c\u3001\u6570\u5024\u306f\u7b46\u8005\u304c\u4e00\u6b21\u60c5\u5831\u3068\u7167\u5408\u3057\u3066\u3044\u307e\u3059\u3002\u7279\u5b9a\u9298\u67c4\u306e\u58f2\u8cb7\u3092\u63a8\u5968\u3059\u308b\u3082\u306e\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u6295\u8cc7\u5224\u65ad\u306f\u3054\u81ea\u8eab\u306e\u8cac\u4efb\u3067\u304a\u9858\u3044\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">\u3053\u306e\u8a18\u4e8b\u3067\u308f\u304b\u308b\u3053\u3068<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>4\u301c6\u6708\u671f\u306e\u6700\u7d42\u5229\u76ca\u304c\u524d\u5e74\u540c\u671f\u306e3.2\u500d\u306b\u306a\u3063\u305f\u4e00\u65b9\u3067\u3001\u9285\u30fb\u91d1\u30fb\u30cb\u30c3\u30b1\u30eb\u306e\u751f\u7523\u91cf\u306f\u3044\u305a\u308c\u3082\u524d\u5e74\u5272\u308c\u3060\u3063\u305f\u3053\u3068<\/li>\n\n\n\n<li>\u305d\u306e\u5229\u76ca\u5897\u52a0\u304c\u3001\u4f1a\u793e\u81ea\u8eab\u306e\u958b\u793a\u3057\u3066\u3044\u308b\u300c\u4fa1\u683c\u611f\u5fdc\u5ea6\u300d\u306e\u8868\u3067\u307b\u307c\u8aac\u660e\u3067\u304d\u3066\u3057\u307e\u3046\u3053\u3068\uff08\u81ea\u5206\u3067\u8a08\u7b97\u3057\u3066\u78ba\u304b\u3081\u3089\u308c\u307e\u3059\uff09<\/li>\n\n\n\n<li>\u300c\u8cc7\u6e90\u30bb\u30b0\u30e1\u30f3\u30c8\u306f\u58f2\u4e0a915\u5104\u5186\u306b\u5bfe\u3057\u3066\u5229\u76ca713\u5104\u5186\u300d\u3068\u3044\u3046\u3001\u4e00\u898b\u3042\u308a\u3048\u306a\u3044\u6570\u5b57\u304c\u51fa\u3066\u304f\u308b\u7406\u7531<\/li>\n\n\n\n<li>\u4e2d\u671f\u7d4c\u55b6\u8a08\u753b\u306e\u6700\u7d42\u5e74\u5ea6\u76ee\u6a19\u3092\u3001\u305d\u306e1\u5e74\u524d\u306b2\u500d\u4ee5\u4e0a\u8d85\u3048\u3066\u3057\u307e\u3063\u305f\u3053\u3068\u306e\u610f\u5473<\/li>\n\n\n\n<li>\u682a\u4e3b\u512a\u5f85\u306f\u3042\u308a\u307e\u305b\u3093\u304c\u3001\u914d\u5f53\u4e88\u60f3207\u5186\u304c\u4f55\u304b\u3089\u9006\u7b97\u3055\u308c\u305f\u6570\u5b57\u306a\u306e\u304b<\/li>\n\n\n\n<li>\u3053\u306e\u6c7a\u7b97\u3092\u3069\u3046\u8aad\u3080\u304b\u3001\u5f37\u6c17\u30fb\u5f31\u6c17\u305d\u308c\u305e\u308c\u306e\u898b\u65b9<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">1. \u3053\u306e\u4f1a\u793e\u3092\u4e00\u8a00\u3067\u3044\u3046\u3068\u2014\u2014\u300c\u539f\u6599\u3092\u8cb7\u3046\u300d\u306e\u3067\u306f\u306a\u304f\u300c\u539f\u6599\u304c\u63a1\u308c\u308b\u5834\u6240\u306e\u6301\u3061\u5206\u3092\u8cb7\u3046\u300d\u4f1a\u793e<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f4f\u53cb\u91d1\u5c5e\u9271\u5c71\u306f\u3001\u9285\u30fb\u91d1\u30fb\u30cb\u30c3\u30b1\u30eb\u3068\u3044\u3063\u305f\u975e\u9244\u91d1\u5c5e\u3092\u6271\u3046\u4f1a\u793e\u3067\u3059\u3002\u305f\u3060\u3001\u300c\u91d1\u5c5e\u30e1\u30fc\u30ab\u30fc\u300d\u3068\u3044\u3046\u8a00\u3044\u65b9\u3060\u3068\u3001\u3053\u306e\u4f1a\u793e\u306e\u6c7a\u7b97\u66f8\u306f\u3046\u307e\u304f\u8aad\u3081\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3075\u3064\u3046\u306e\u88fd\u9020\u696d\u306f\u3001\u539f\u6599\u3092\u5e02\u5834\u304b\u3089\u8cb7\u3063\u3066\u304d\u3066\u3001\u52a0\u5de5\u3057\u3066\u3001\u4ed8\u52a0\u4fa1\u5024\u3092\u3064\u3051\u3066\u58f2\u308a\u307e\u3059\u3002\u539f\u6599\u4fa1\u683c\u304c\u4e0a\u304c\u308c\u3070\u4ed5\u5165\u308c\u30b3\u30b9\u30c8\u304c\u5897\u3048\u308b\u306e\u3067\u3001\u57fa\u672c\u7684\u306b\u306f\u9006\u98a8\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f4f\u53cb\u91d1\u5c5e\u9271\u5c71\u304c\u3084\u3063\u3066\u3044\u308b\u306e\u306f\u3001\u305d\u306e\u4e00\u6bb5\u624b\u524d\u306e\u3053\u3068\u3067\u3059\u3002<strong>\u539f\u6599\u3092\u8cb7\u3046\u4ee3\u308f\u308a\u306b\u3001\u539f\u6599\u304c\u63a1\u308c\u308b\u5834\u6240\u305d\u306e\u3082\u306e\u306e\u6301\u3061\u5206\u3092\u8cb7\u3063\u3066\u3044\u307e\u3059\u3002<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8eab\u8fd1\u306a\u4f8b\u3067\u8a00\u3048\u3070\u3001\u5375\u3092\u4ed5\u5165\u308c\u3066\u58f2\u308b\u4ee3\u308f\u308a\u306b\u3001\u990a\u9d8f\u5834\u306e\u682a\u3092\u6301\u3063\u3066\u3044\u308b\u3088\u3046\u306a\u3082\u306e\u3067\u3059\u3002\u5375\u306e\u5024\u6bb5\u304c\u4e0a\u304c\u308c\u3070\u3001\u4ed5\u5165\u308c\u308b\u5074\u3068\u3057\u3066\u306f\u56f0\u308a\u307e\u3059\u304c\u3001\u990a\u9d8f\u5834\u306e\u6301\u3061\u4e3b\u3068\u3057\u3066\u306f\u5132\u304b\u308a\u307e\u3059\u3002\u4e21\u65b9\u3092\u3084\u3063\u3066\u3044\u308c\u3070\u3001\u5024\u4e0a\u304c\u308a\u306e\u75db\u307f\u306f\u81ea\u5206\u306e\u53d6\u308a\u5206\u306e\u5897\u52a0\u3067\u76f8\u6bba\u3055\u308c\u307e\u3059\u3002\u305d\u3057\u3066\u5375\u306e\u5024\u6bb5\u304c\u4e0b\u304c\u3063\u305f\u3068\u304d\u306f\u3001\u9006\u306e\u3053\u3068\u304c\u8d77\u3053\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u69cb\u9020\u304c\u3001\u6c7a\u7b97\u66f8\u306e\u3042\u3061\u3053\u3061\u306b\u9854\u3092\u51fa\u3057\u307e\u3059\u3002\u3053\u306e\u8a18\u4e8b\u3067\u306f\u4f55\u5ea6\u304b\u3053\u306e\u898b\u65b9\u306b\u623b\u3063\u3066\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><strong>\u7528\u8a9e\u30e1\u30e2\uff1a\u6a29\u76ca\uff08\u3051\u3093\u3048\u304d\uff09<\/strong> \u9271\u5c71\u3092\u6398\u308b\u6a29\u5229\u3001\u3042\u308b\u3044\u306f\u9271\u5c71\u3092\u904b\u55b6\u3059\u308b\u4f1a\u793e\u3078\u306e\u51fa\u8cc7\u6301\u5206\u306e\u3053\u3068\u3002\u4f4f\u53cb\u91d1\u5c5e\u9271\u5c71\u306f\u4e16\u754c\u5404\u5730\u306e\u9285\u9271\u5c71\u30fb\u91d1\u9271\u5c71\u306b\u51fa\u8cc7\u3057\u3066\u304a\u308a\u3001\u300c\u5f53\u793e\u6a29\u76ca25%\u300d\u3068\u3044\u3063\u305f\u66f8\u304d\u65b9\u3092\u3057\u307e\u3059\u3002100%\u5b50\u4f1a\u793e\u3067\u306f\u306a\u3044\u306e\u3067\u3001\u9271\u5c71\u306e\u58f2\u4e0a\u304c\u305d\u306e\u307e\u307e\u81ea\u793e\u306e\u58f2\u4e0a\u306b\u306a\u308b\u308f\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u3053\u3053\u304c\u5f8c\u3067\u52b9\u3044\u3066\u304d\u307e\u3059\u3002<\/p>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\">1-1. 3\u3064\u306e\u4e8b\u696d<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u30bb\u30b0\u30e1\u30f3\u30c8<\/th><th>\u3084\u3063\u3066\u3044\u308b\u3053\u3068<\/th><th>\u4e3b\u306a\u3082\u306e<\/th><th>2026\u5e743\u6708\u671f\u306e\u58f2\u4e0a\uff08\u5104\u5186\uff09<\/th><th>\u540c\u30fb\u30bb\u30b0\u30e1\u30f3\u30c8\u5229\u76ca\uff08\u5104\u5186\uff09<\/th><\/tr><\/thead><tbody><tr><td>\u8cc7\u6e90<\/td><td>\u9271\u5c71\u306e\u63a2\u67fb\u30fb\u958b\u767a\u30fb\u751f\u7523\u3002\u56fd\u5185\u5916\u306e\u9271\u5c71\u306b\u51fa\u8cc7\u3057\u3001\u6a29\u76ca\u3092\u4fdd\u6709<\/td><td>\u83f1\u5208\u9271\u5c71\uff08\u56fd\u5185\u30fb\u91d1\uff09\u3001\u30e2\u30ec\u30f3\u30b7\u30fc\u9285\u9271\u5c71\uff08\u7c73\uff09\u3001\u30bb\u30ed\u30fb\u30d9\u30eb\u30c7\u9285\u9271\u5c71\uff08\u30da\u30eb\u30fc\uff09\u3001\u30b1\u30d6\u30e9\u30c0\u30fb\u30d6\u30e9\u30f3\u30ab\u9285\u9271\u5c71\uff08\u30c1\u30ea\uff09\u3001\u30b3\u30c6\u91d1\u9271\u5c71\uff08\u30ab\u30ca\u30c0\uff09<\/td><td>3,026<\/td><td>1,678<\/td><\/tr><tr><td>\u88fd\u932c<\/td><td>\u9271\u77f3\u3092\u7cbe\u88fd\u3057\u3066\u91d1\u5c5e\u306b\u3059\u308b<\/td><td>\u96fb\u6c17\u9285\u3001\u96fb\u6c17\u30cb\u30c3\u30b1\u30eb\u3001\u30d5\u30a7\u30ed\u30cb\u30c3\u30b1\u30eb\u3001\u91d1\u30fb\u9280\u306a\u3069\u8cb4\u91d1\u5c5e<\/td><td>13,501<\/td><td>916<\/td><\/tr><tr><td>\u6750\u6599<\/td><td>\u91d1\u5c5e\u3092\u52a0\u5de5\u3057\u3066\u90e8\u6750\u306b\u3059\u308b<\/td><td>\u8eca\u8f09\u96fb\u6c60\u5411\u3051\u6b63\u6975\u6750\u3001\u30cb\u30c3\u30b1\u30eb\u7c89\u3001SiC\u57fa\u677f\u3001\u89e6\u5a92\u306a\u3069<\/td><td>2,845<\/td><td>153<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\uff08\u30bb\u30b0\u30e1\u30f3\u30c8\u9593\u306e\u5185\u90e8\u53d6\u5f15\u3092\u542b\u3080\u91d1\u984d\u3002\u9023\u7d50\u58f2\u4e0a\u9ad8\u306f\u8abf\u6574\u5f8c\u30671\u51467,416\u5104\u5186\uff09<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u58f2\u4e0a\u898f\u6a21\u3067\u3044\u3061\u3070\u3093\u5927\u304d\u3044\u306e\u306f\u88fd\u932c\u3067\u3059\u304c\u3001\u5229\u76ca\u3067\u3044\u3061\u3070\u3093\u5927\u304d\u3044\u306e\u306f\u8cc7\u6e90\u3067\u3059\u3002\u3053\u3053\u304c\u3053\u306e\u4f1a\u793e\u306e\u7279\u5fb4\u3067\u3001\u5f8c\u306e\u30bb\u30af\u30b7\u30e7\u30f3\u3067\u8a73\u3057\u304f\u898b\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1-2. \u57fa\u672c\u60c5\u5831<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u9805\u76ee<\/th><th>\u5185\u5bb9<\/th><\/tr><\/thead><tbody><tr><td>\u8a3c\u5238\u30b3\u30fc\u30c9<\/td><td>5713\uff08\u6771\u8a3c\u30d7\u30e9\u30a4\u30e0\uff09<\/td><\/tr><tr><td>\u6c7a\u7b97\u671f<\/td><td>3\u6708\u671f<\/td><\/tr><tr><td>\u4f1a\u8a08\u57fa\u6e96<\/td><td>IFRS\uff08\u56fd\u969b\u4f1a\u8a08\u57fa\u6e96\uff09<\/td><\/tr><tr><td>\u8a2d\u7acb<\/td><td>1950\u5e743\u6708\uff08\u4e8b\u696d\u306e\u5275\u696d\u306f1590\u5e74\uff09<\/td><\/tr><tr><td>\u767a\u884c\u6e08\u682a\u5f0f\u6570<\/td><td>290,814,015\u682a\uff08\u3046\u3061\u81ea\u5df1\u682a\u5f0f22,326,154\u682a\uff0f2026\u5e746\u6708\u672b\uff09<\/td><\/tr><tr><td>\u914d\u5f53<\/td><td>\u5e742\u56de\uff08\u4e2d\u9593\u30fb\u671f\u672b\uff09<\/td><\/tr><tr><td><strong>\u682a\u4e3b\u512a\u5f85<\/strong><\/td><td><strong>\u5236\u5ea6\u306a\u3057<\/strong>\uff08\u4f1a\u793e\u306eIR\u30b5\u30a4\u30c8\u300c\u3088\u304f\u3042\u308b\u3054\u8cea\u554f\u300d\u306b\u300c\u4eca\u306e\u3068\u3053\u308d\u3001\u5b9f\u65bd\u3057\u3066\u304a\u308a\u307e\u305b\u3093\u300d\u3068\u660e\u8a18\uff09<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u682a\u4e3b\u512a\u5f85\u3092\u76ee\u5f53\u3066\u306b\u3053\u306e\u9298\u67c4\u3092\u8abf\u3079\u306b\u6765\u305f\u65b9\u306e\u305f\u3081\u306b\u3001\u306f\u3063\u304d\u308a\u66f8\u3044\u3066\u304a\u304d\u307e\u3059\u3002<strong>\u4f4f\u53cb\u91d1\u5c5e\u9271\u5c71\u306b\u682a\u4e3b\u512a\u5f85\u5236\u5ea6\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/strong> \u300c\u8abf\u3079\u305f\u3051\u308c\u3069\u898b\u3064\u304b\u3089\u306a\u304b\u3063\u305f\u300d\u3067\u306f\u306a\u304f\u3001\u4f1a\u793e\u81ea\u8eab\u304c\u300c\u5b9f\u65bd\u3057\u3066\u3044\u306a\u3044\u300d\u3068\u660e\u8a00\u3057\u3066\u3044\u307e\u3059\u3002\u3057\u305f\u304c\u3063\u3066\u3001\u3053\u306e\u8a18\u4e8b\u3067\u306f\u512a\u5f85\u30bb\u30af\u30b7\u30e7\u30f3\u306e\u4ee3\u308f\u308a\u306b\u3001\u914d\u5f53\u30fb\u81ea\u5df1\u682a\u5f0f\u53d6\u5f97\u30fb\u4fdd\u6709\u682a\u5f0f\u3068\u3044\u3063\u305f\u300c\u8cc7\u672c\u653f\u7b56\u3068\u682a\u4e3b\u9084\u5143\u300d\u3092\u539a\u3081\u306b\u6271\u3044\u307e\u3059\uff08\u7b2c9\u7ae0\uff09\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><strong>\u7528\u8a9e\u30e1\u30e2\uff1aIFRS\u3068\u300c\u7a0e\u5f15\u524d\u5229\u76ca\u300d<\/strong> \u4f4f\u53cb\u91d1\u5c5e\u9271\u5c71\u306fIFRS\uff08\u56fd\u969b\u4f1a\u8a08\u57fa\u6e96\uff09\u3092\u63a1\u7528\u3057\u3066\u3044\u307e\u3059\u3002IFRS\u3067\u306f\u65e5\u672c\u57fa\u6e96\u306e\u300c\u7d4c\u5e38\u5229\u76ca\u300d\u3068\u3044\u3046\u533a\u5206\u304c\u3042\u308a\u307e\u305b\u3093\u3002\u30cb\u30e5\u30fc\u30b9\u306a\u3069\u3067\u6bd4\u8f03\u3055\u308c\u308b\u306e\u306f\u300c\u7a0e\u5f15\u524d\u5229\u76ca\u300d\u3067\u3059\u3002\u307e\u305f\u3001\u5f8c\u3067\u89e6\u308c\u307e\u3059\u304c\u3001IFRS\u3067\u306f\u300c\u55b6\u696d\u5229\u76ca\u300d\u306e\u8868\u793a\u3082\u5fc5\u9808\u3067\u306f\u306a\u304f\u3001\u3053\u306e\u4f1a\u793e\u306f\u640d\u76ca\u8a08\u7b97\u66f8\u306b\u55b6\u696d\u5229\u76ca\u306e\u884c\u3092\u7f6e\u3044\u3066\u3044\u307e\u305b\u3093\u3002\u4ed6\u793e\u3068\u6bd4\u3079\u308b\u3068\u304d\u306f\u3001\u3069\u306e\u5229\u76ca\u3067\u6bd4\u3079\u3066\u3044\u308b\u306e\u304b\u3092\u63c3\u3048\u308b\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\">1-3. \u76f4\u8fd13\u671f\u306e\u696d\u7e3e\u63a8\u79fb<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u56db\u534a\u671f\u306e\u8a71\u306b\u5165\u308b\u524d\u306b\u3001\u3069\u3046\u3044\u3046\u30da\u30fc\u30b9\u3067\u52d5\u3044\u3066\u304d\u305f\u4f1a\u793e\u306a\u306e\u304b\u3092\u898b\u3066\u304a\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u9805\u76ee<\/th><th>2024\u5e743\u6708\u671f<\/th><th>2025\u5e743\u6708\u671f<\/th><th>2026\u5e743\u6708\u671f<\/th><th>2027\u5e743\u6708\u671f\uff08\u4f1a\u793e\u4e88\u60f3\uff09<\/th><\/tr><\/thead><tbody><tr><td>\u58f2\u4e0a\u9ad8<\/td><td>1\u51464,454\u5104\u5186<\/td><td>1\u51465,933\u5104\u5186<\/td><td>1\u51467,416\u5104\u5186<\/td><td>2\u5146650\u5104\u5186<\/td><\/tr><tr><td>\u7a0e\u5f15\u524d\u5229\u76ca<\/td><td>958\u5104\u5186<\/td><td>314\u5104\u5186<\/td><td>2,557\u5104\u5186<\/td><td>3,240\u5104\u5186<\/td><\/tr><tr><td>\u89aa\u4f1a\u793e\u682a\u4e3b\u306b\u5e30\u5c5e\u3059\u308b\u5f53\u671f\u5229\u76ca<\/td><td>586\u5104\u5186<\/td><td>165\u5104\u5186<\/td><td>1,763\u5104\u5186<\/td><td>2,160\u5104\u5186<\/td><\/tr><tr><td>EPS\uff081\u682a\u5229\u76ca\uff09<\/td><td>\u2014<\/td><td>59.99\u5186<\/td><td>649.55\u5186<\/td><td>803.95\u5186<\/td><\/tr><tr><td>ROE<\/td><td>3.4%<\/td><td>0.9%<\/td><td>9.0%<\/td><td>\u2014<\/td><\/tr><tr><td>\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387<\/td><td>59.0%<\/td><td>60.1%<\/td><td>58.3%<\/td><td>\u2014<\/td><\/tr><tr><td>\u5e74\u9593\u914d\u5f53<\/td><td>98\u5186<\/td><td>104\u5186<\/td><td>228\u5186<\/td><td>207\u5186\uff08\u4e88\u60f3\uff09<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\uff082024\u5e743\u6708\u671f\u30fb2025\u5e743\u6708\u671f\u306e\u6570\u5024\u306f\u4e2d\u671f\u7d4c\u55b6\u8a08\u753b\u8cc7\u6599\u304a\u3088\u3073\u6c7a\u7b97\u77ed\u4fe1\u3088\u308a\u30022027\u5e743\u6708\u671f\u306f2026\u5e748\u670810\u65e5\u306b\u4e0a\u65b9\u4fee\u6b63\u3055\u308c\u305f\u4f1a\u793e\u4e88\u60f3\uff09<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u8868\u3092\u898b\u308b\u3068\u304d\u306e\u30dd\u30a4\u30f3\u30c8\u306f2\u3064\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>1\u3064\u3081\u3002\u5229\u76ca\u306e\u632f\u308c\u5e45\u304c\u3068\u306b\u304b\u304f\u5927\u304d\u3044\u3002<\/strong> 2025\u5e743\u6708\u671f\u306e\u7a0e\u5f15\u524d\u5229\u76ca\u306f314\u5104\u5186\u3067\u3057\u305f\u304c\u3001\u7fcc\u671f\u306f2,557\u5104\u5186\u30028\u500d\u3067\u3059\u3002\u3053\u308c\u306f\u4e8b\u696d\u304c\u6025\u306b8\u500d\u3046\u307e\u304f\u3044\u3063\u305f\u304b\u3089\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u30022025\u5e743\u6708\u671f\u306b\u306f\u6d77\u5916\u30cb\u30c3\u30b1\u30eb\u88fd\u932c\u5b50\u4f1a\u793e\u3068\u96fb\u6c60\u6750\u6599\u4e8b\u696d\u3067\u5408\u8a081,127\u5104\u5186\u306e\u6e1b\u640d\u640d\u5931\u3092\u8a08\u4e0a\u3057\u3066\u304a\u308a\u3001\u305d\u306e\u53cd\u52d5\u304c\u5927\u304d\u304f\u52b9\u3044\u3066\u3044\u307e\u3059\u3002\u52a0\u3048\u3066\u3001\u9285\u3068\u91d1\u306e\u4fa1\u683c\u304c\u4e0a\u304c\u308a\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>2\u3064\u3081\u3002\u305d\u308c\u3067\u3082\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u306f6\u5272\u524d\u5f8c\u3067\u5b89\u5b9a\u3057\u3066\u3044\u308b\u3002<\/strong> \u5229\u76ca\u304c10\u5206\u306e1\u306b\u306a\u3063\u3066\u3082\u3001\u8ca1\u52d9\u304c\u63fa\u3089\u3050\u30bf\u30a4\u30d7\u306e\u4f1a\u793e\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u3053\u306e2\u3064\u3092\u5408\u308f\u305b\u308b\u3068\u3001\u300c\u696d\u7e3e\u306f\u8352\u3044\u304c\u3001\u305d\u306e\u8352\u3055\u306b\u8010\u3048\u3089\u308c\u308b\u4f53\u529b\u304c\u3042\u308b\u4f1a\u793e\u300d\u3068\u3044\u3046\u50cf\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><strong>\u7528\u8a9e\u30e1\u30e2\uff1a\u6e1b\u640d\u640d\u5931\uff08\u3052\u3093\u305d\u3093\u305d\u3093\u3057\u3064\uff09<\/strong> \u4fdd\u6709\u3057\u3066\u3044\u308b\u5de5\u5834\u3084\u8a2d\u5099\u3001\u51fa\u8cc7\u5148\u306a\u3069\u306b\u3064\u3044\u3066\u3001\u300c\u5c06\u6765\u3053\u306e\u6295\u8cc7\u304b\u3089\u56de\u53ce\u3067\u304d\u308b\u91d1\u984d\u306f\u3001\u5e33\u7c3f\u306b\u8f09\u3063\u3066\u3044\u308b\u91d1\u984d\u3088\u308a\u5c0f\u3055\u3044\u300d\u3068\u5224\u65ad\u3057\u305f\u3068\u304d\u306b\u3001\u305d\u306e\u5dee\u984d\u3092\u4e00\u6c17\u306b\u640d\u5931\u3068\u3057\u3066\u8a08\u4e0a\u3059\u308b\u4f1a\u8a08\u51e6\u7406\u3067\u3059\u3002\u73fe\u91d1\u304c\u51fa\u3066\u3044\u304f\u308f\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u304c\u3001\u5229\u76ca\u306f\u5927\u304d\u304f\u6e1b\u308a\u307e\u3059\u3002\u9006\u306b\u3001\u7fcc\u5e74\u306f\u524d\u5e74\u306b\u8a08\u4e0a\u3057\u305f\u5206\u306e\u53cd\u52d5\u3067\u5229\u76ca\u304c\u8df3\u306d\u4e0a\u304c\u3063\u3066\u898b\u3048\u307e\u3059\u3002<\/p>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\">1-4. \u4e2d\u671f\u7d4c\u55b6\u8a08\u753b2027\u306e\u6570\u5024\u76ee\u6a19<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">2025\u5e745\u6708\u306b\u300c\u4e2d\u671f\u7d4c\u55b6\u8a08\u753b2027\uff08\u4e2d\u8a0827\uff09\u300d\u304c\u516c\u8868\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u5bfe\u8c61\u306f2025\u5e74\u5ea6\u301c2027\u5e74\u5ea6\uff082026\u5e743\u6708\u671f\u301c2028\u5e743\u6708\u671f\uff09\u306e3\u5e74\u9593\u3067\u3001\u6700\u7d42\u5e74\u5ea6\u306e\u76ee\u6a19\u306f\u6b21\u306e\u3068\u304a\u308a\u3067\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u9805\u76ee<\/th><th>\u4e2d\u8a0827\u306e2027\u5e74\u5ea6\uff082028\u5e743\u6708\u671f\uff09\u76ee\u6a19<\/th><\/tr><\/thead><tbody><tr><td>\u7a0e\u5f15\u524d\u5229\u76ca<\/td><td>1,400\u5104\u5186<\/td><\/tr><tr><td>\u5f53\u671f\u5229\u76ca\uff08\u89aa\u4f1a\u793e\u682a\u4e3b\u5e30\u5c5e\uff09<\/td><td>980\u5104\u5186<\/td><\/tr><tr><td>ROCE<\/td><td>4.4%<\/td><\/tr><tr><td>ROE<\/td><td>5.4%<\/td><\/tr><tr><td>\u30bb\u30b0\u30e1\u30f3\u30c8\u5229\u76ca<\/td><td>\u8cc7\u6e901,200\u5104\u5186\uff0f\u88fd\u932c40\u5104\u5186\uff0f\u6750\u6599130\u5104\u5186<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u3053\u3067\u3001\u3075\u3064\u3046\u306e\u6c7a\u7b97\u8a18\u4e8b\u306a\u3089\u300c\u4eca\u671f\u4e88\u60f3\u304b\u3089\u3053\u306e\u76ee\u6a19\u307e\u3067\u3001\u3042\u3068\u4f55%\u6210\u9577\u304c\u5fc5\u8981\u304b\u300d\u3092\u8a08\u7b97\u3059\u308b\u3068\u3053\u308d\u3067\u3059\u3002\u3068\u3053\u308d\u304c\u3001\u3053\u306e\u4f1a\u793e\u3067\u306f\u8a08\u7b97\u3059\u308b\u5fc5\u8981\u304c\u3042\u308a\u307e\u305b\u3093\u3002<strong>2027\u5e743\u6708\u671f\uff08\u4e2d\u8a08\u306e2\u5e74\u76ee\uff09\u306e\u4f1a\u793e\u4e88\u60f3\u3067\u3042\u308b\u7a0e\u5f15\u524d\u5229\u76ca3,240\u5104\u5186\u306f\u3001\u4e2d\u8a08\u306e\u6700\u7d42\u5e74\u5ea6\u76ee\u6a191,400\u5104\u5186\u3092\u3059\u3067\u306b2.3\u500d\u4e0a\u56de\u3063\u3066\u3044\u307e\u3059\u3002<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u76ee\u6a19\u30921\u5e74\u524d\u5012\u3057\u30672\u500d\u4ee5\u4e0a\u8d85\u3048\u305f\u306e\u3060\u304b\u3089\u7d20\u6674\u3089\u3057\u3044\u3001\u3068\u3044\u3046\u8a71\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<strong>\u306a\u305c\u305d\u3046\u306a\u3063\u305f\u306e\u304b\u304c\u3001\u3053\u306e\u6c7a\u7b97\u306e\u3044\u3061\u3070\u3093\u91cd\u8981\u306a\u8ad6\u70b9\u3067\u3059\u3002<\/strong> \u7b2c7\u7ae0\u3067\u3001\u4f1a\u793e\u81ea\u8eab\u306e\u6570\u5b57\u3092\u4f7f\u3063\u3066\u5206\u89e3\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">2. 4\u301c6\u6708\u671f\u306e\u6c7a\u7b97\u30cf\u30a4\u30e9\u30a4\u30c8<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">2026\u5e748\u670810\u65e5\u306b\u767a\u8868\u3055\u308c\u305f\u30012027\u5e743\u6708\u671f\u7b2c1\u56db\u534a\u671f\uff082026\u5e744\u6708\u301c6\u6708\uff09\u306e\u6c7a\u7b97\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2-1. \u640d\u76ca<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u9805\u76ee<\/th><th>2026\u5e744\u301c6\u6708<\/th><th>\u524d\u5e74\u540c\u671f<\/th><th>\u5897\u6e1b\u7387<\/th><\/tr><\/thead><tbody><tr><td>\u58f2\u4e0a\u9ad8<\/td><td>5,401\u5104\u5186<\/td><td>3,796\u5104\u5186<\/td><td>+42.3%<\/td><\/tr><tr><td>\u58f2\u4e0a\u7dcf\u5229\u76ca<\/td><td>1,096\u5104\u5186<\/td><td>350\u5104\u5186<\/td><td>+213%<\/td><\/tr><tr><td>\u7a0e\u5f15\u524d\u56db\u534a\u671f\u5229\u76ca<\/td><td>1,180\u5104\u5186<\/td><td>379\u5104\u5186<\/td><td>+211.4%<\/td><\/tr><tr><td>\u89aa\u4f1a\u793e\u682a\u4e3b\u306b\u5e30\u5c5e\u3059\u308b\u56db\u534a\u671f\u5229\u76ca<\/td><td>879\u5104\u5186<\/td><td>274\u5104\u5186<\/td><td>+220.5%<\/td><\/tr><tr><td>1\u682a\u5f53\u305f\u308a\u56db\u534a\u671f\u5229\u76ca\uff08EPS\uff09<\/td><td>326.62\u5186<\/td><td>100.27\u5186<\/td><td>+225.7%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u58f2\u4e0a\u7dcf\u5229\u76ca\u7387\u306f9.2%\u304b\u308920.3%\u3078\u30012\u500d\u4ee5\u4e0a\u306b\u6539\u5584\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2-2. \u8ca1\u653f\u72b6\u614b\uff082026\u5e746\u6708\u672b\uff09<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u9805\u76ee<\/th><th>2026\u5e746\u6708\u672b<\/th><th>2026\u5e743\u6708\u672b<\/th><th>\u5897\u6e1b<\/th><\/tr><\/thead><tbody><tr><td>\u8cc7\u7523\u5408\u8a08<\/td><td>3\u51466,272\u5104\u5186<\/td><td>3\u51465,590\u5104\u5186<\/td><td>+682\u5104\u5186<\/td><\/tr><tr><td>\u8ca0\u50b5\u5408\u8a08<\/td><td>1\u51462,714\u5104\u5186<\/td><td>1\u51462,670\u5104\u5186<\/td><td>+44\u5104\u5186<\/td><\/tr><tr><td>\u8cc7\u672c\u5408\u8a08<\/td><td>2\u51463,558\u5104\u5186<\/td><td>2\u51462,920\u5104\u5186<\/td><td>+638\u5104\u5186<\/td><\/tr><tr><td>\u89aa\u4f1a\u793e\u6240\u6709\u8005\u5e30\u5c5e\u6301\u5206\u6bd4\u7387<\/td><td>58.7%<\/td><td>58.3%<\/td><td>+0.4pt<\/td><\/tr><tr><td>\u6709\u5229\u5b50\u8ca0\u50b5\uff08\u793e\u50b5\u53ca\u3073\u501f\u5165\u91d1\uff09<\/td><td>7,147\u5104\u5186<\/td><td>6,638\u5104\u5186<\/td><td>+509\u5104\u5186<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u306f58.7%\u3068\u9ad8\u6c34\u6e96\u3067\u3059\u3002\u305f\u3060\u3057\u3001\u6709\u5229\u5b50\u8ca0\u50b5\u304c3\u304b\u6708\u3067509\u5104\u5186\u5897\u3048\u3066\u3044\u308b\u70b9\u306f\u899a\u3048\u3066\u304a\u3044\u3066\u304f\u3060\u3055\u3044\u3002\u7b2c10\u7ae0\u306e\u5f31\u6c17\u6750\u6599\u3067\u623b\u3063\u3066\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2-3. \u30ad\u30e3\u30c3\u30b7\u30e5\u30fb\u30d5\u30ed\u30fc<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u9805\u76ee<\/th><th>2026\u5e744\u301c6\u6708<\/th><th>\u524d\u5e74\u540c\u671f<\/th><\/tr><\/thead><tbody><tr><td>\u55b6\u696d\u6d3b\u52d5\u306b\u3088\u308bCF<\/td><td>+630\u5104\u5186<\/td><td>\u25b36\u5104\u5186<\/td><\/tr><tr><td>\u6295\u8cc7\u6d3b\u52d5\u306b\u3088\u308bCF<\/td><td>\u25b3194\u5104\u5186<\/td><td>\u25b3255\u5104\u5186<\/td><\/tr><tr><td>\u8ca1\u52d9\u6d3b\u52d5\u306b\u3088\u308bCF<\/td><td>\u25b3213\u5104\u5186<\/td><td>+117\u5104\u5186<\/td><\/tr><tr><td>\u73fe\u91d1\u53ca\u3073\u73fe\u91d1\u540c\u7b49\u7269\u306e\u56db\u534a\u671f\u672b\u6b8b\u9ad8<\/td><td>1,413\u5104\u5186<\/td><td>1,412\u5104\u5186<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u524d\u5e74\u540c\u671f\u306f\u55b6\u696dCF\u304c\u30de\u30a4\u30ca\u30b9\u3067\u3057\u305f\u3002\u68da\u5378\u8cc7\u7523\uff08\u5728\u5eab\uff09\u304c264\u5104\u5186\u5897\u3048\u3066\u8cc7\u91d1\u3092\u5148\u306b\u98df\u3063\u3066\u3044\u305f\u305f\u3081\u3067\u3059\u3002\u4eca\u671f\u306f\u5728\u5eab\u306e\u5897\u52a0\u304c7\u5104\u5186\u306b\u3068\u3069\u307e\u308a\u3001\u7a0e\u5f15\u524d\u5229\u76ca\u304c\u5927\u304d\u304f\u5897\u3048\u305f\u3053\u3068\u3067\u3001\u55b6\u696dCF\u306f630\u5104\u5186\u306e\u30d7\u30e9\u30b9\u306b\u8ee2\u3058\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u305f\u3060\u3057\u3001\u7a0e\u5f15\u524d\u5229\u76ca1,180\u5104\u5186\u306b\u5bfe\u3057\u3066\u55b6\u696dCF\u306f630\u5104\u5186\u3067\u3001\u6bd4\u7387\u306f53%\u3067\u3059\u3002\u6cd5\u4eba\u6240\u5f97\u7a0e\u306e\u652f\u6255\u984d\u304c211\u5104\u5186\u304b\u3089363\u5104\u5186\u30781.7\u500d\u306b\u5897\u3048\u305f\u3053\u3068\u304c\u52b9\u3044\u3066\u3044\u307e\u3059\u3002\u5229\u76ca\u304c\u5897\u3048\u308c\u3070\u7a0e\u91d1\u3082\u5897\u3048\u308b\u306e\u3067\u5f53\u7136\u3067\u306f\u3042\u308a\u307e\u3059\u304c\u3001\u300c\u5229\u76ca\uff1d\u624b\u5143\u306b\u6b8b\u308b\u73fe\u91d1\u300d\u3067\u306f\u306a\u3044\u3053\u3068\u306f\u62bc\u3055\u3048\u3066\u304a\u304d\u305f\u3044\u3068\u3053\u308d\u3067\u3059\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><strong>\u7528\u8a9e\u30e1\u30e2\uff1a\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30fb\u30d5\u30ed\u30fc<\/strong> \u672c\u696d\u3067\u3069\u308c\u3060\u3051\u73fe\u91d1\u304c\u5897\u3048\u305f\u304b\uff08\u6e1b\u3063\u305f\u304b\uff09\u3092\u793a\u3059\u6570\u5b57\u3067\u3059\u3002\u5229\u76ca\u306f\u4f1a\u8a08\u4e0a\u306e\u8a08\u7b97\u306a\u306e\u3067\u3001\u58f2\u639b\u91d1\u3084\u5728\u5eab\u306e\u5897\u6e1b\u3001\u7a0e\u91d1\u306e\u652f\u6255\u3044\u30bf\u30a4\u30df\u30f3\u30b0\u306b\u3088\u3063\u3066\u3001\u5b9f\u969b\u306e\u73fe\u91d1\u306e\u52d5\u304d\u3068\u306f\u30ba\u30ec\u307e\u3059\u3002\u904e\u53bb\u6700\u9ad8\u76ca\u306a\u306e\u306b\u55b6\u696dCF\u304c\u30de\u30a4\u30ca\u30b9\u3001\u3068\u3044\u3046\u4f1a\u793e\u306f\u73cd\u3057\u304f\u3042\u308a\u307e\u305b\u3093\u3002\u3053\u306e\u4f1a\u793e\u306e\u524d\u5e74\u540c\u671f\u304c\u307e\u3055\u306b\u305d\u308c\u3067\u3057\u305f\u3002<\/p>\n<\/blockquote>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">3. \u898b\u3048\u65b9\u304c\u8aa4\u89e3\u3092\u751f\u3080\u6570\u5b57\u2460\u2014\u2014\u751f\u7523\u91cf\u306f\u3001\u307b\u307c\u5168\u90e8\u304c\u524d\u5e74\u5272\u308c\u3060\u3063\u305f<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u3053\u304b\u3089\u304c\u672c\u984c\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u58f2\u4e0a\u304c42%\u5897\u3048\u3001\u6700\u7d42\u5229\u76ca\u304c3.2\u500d\u306b\u306a\u3063\u305f\u3002\u3053\u3053\u307e\u3067\u306e\u6570\u5b57\u3060\u3051\u898b\u308c\u3070\u3001\u300c\u5927\u5897\u7523\u3057\u3066\u5927\u5132\u3051\u3057\u305f\u56db\u534a\u671f\u300d\u306b\u898b\u3048\u307e\u3059\u3002\u3068\u3053\u308d\u304c\u3001\u6c7a\u7b97\u77ed\u4fe1\u306b\u8f09\u3063\u3066\u3044\u308b\u751f\u7523\u91cf\u306e\u8868\u3092\u898b\u308b\u3068\u3001\u69d8\u5b50\u304c\u9055\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u5f53\u793e\uff08\u4f4f\u53cb\u91d1\u5c5e\u9271\u5c71\u5358\u4f53\uff09\u306e\u4e3b\u306a\u88fd\u54c1\u5225\u751f\u7523\u91cf\uff084\u301c6\u6708\uff09<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u88fd\u54c1<\/th><th>2026\u5e744\u301c6\u6708<\/th><th>\u524d\u5e74\u540c\u671f<\/th><th>\u5897\u6e1b<\/th><\/tr><\/thead><tbody><tr><td>\u9285<\/td><td>106,560t<\/td><td>109,383t<\/td><td><strong>\u25b32.6%<\/strong><\/td><\/tr><tr><td>\u91d1<\/td><td>2,621kg<\/td><td>3,227kg<\/td><td><strong>\u25b318.8%<\/strong><\/td><\/tr><tr><td>\u96fb\u6c17\u30cb\u30c3\u30b1\u30eb<\/td><td>15,113t<\/td><td>16,469t<\/td><td><strong>\u25b38.2%<\/strong><\/td><\/tr><tr><td>\u30d5\u30a7\u30ed\u30cb\u30c3\u30b1\u30eb<\/td><td>1,047t<\/td><td>1,292t<\/td><td><strong>\u25b319.0%<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>4\u88fd\u54c1\u3059\u3079\u3066\u304c\u524d\u5e74\u5272\u308c\u3067\u3059\u3002<\/strong> \u7279\u306b\u91d1\u306f\u7d042\u5272\u6e1b\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3064\u307e\u308a\u3053\u306e\u56db\u534a\u671f\u3001\u4f4f\u53cb\u91d1\u5c5e\u9271\u5c71\u306f\u524d\u5e74\u3088\u308a\u5c11\u306a\u3044\u91cf\u3057\u304b\u4f5c\u3063\u3066\u3044\u307e\u305b\u3093\u3002\u305d\u308c\u3067\u3082\u58f2\u4e0a\u306f42%\u5897\u3048\u3001\u5229\u76ca\u306f3.2\u500d\u306b\u306a\u308a\u307e\u3057\u305f\u3002<strong>\u5897\u3048\u305f\u306e\u306f\u91cf\u3067\u306f\u306a\u304f\u3001\u5024\u6bb5\u3067\u3059\u3002<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u540c\u3058\u77ed\u4fe1\u306b\u3001\u305d\u306e\u5024\u6bb5\u304c\u8f09\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u76f8\u5834\u30fb\u70ba\u66ff\uff084\u301c6\u6708\u306e\u5e73\u5747\uff09<\/th><th>2026\u5e74<\/th><th>2025\u5e74<\/th><th>\u5897\u6e1b<\/th><\/tr><\/thead><tbody><tr><td>\u9285<\/td><td>13,324 $\/t<\/td><td>9,519 $\/t<\/td><td><strong>+40.0%<\/strong><\/td><\/tr><tr><td>\u30cb\u30c3\u30b1\u30eb<\/td><td>8.24 $\/lb<\/td><td>6.88 $\/lb<\/td><td><strong>+19.8%<\/strong><\/td><\/tr><tr><td>\u91d1<\/td><td>4,516.4 $\/TOZ<\/td><td>3,280.3 $\/TOZ<\/td><td><strong>+37.7%<\/strong><\/td><\/tr><tr><td>\u70ba\u66ff\uff08TTM\uff09<\/td><td>159.50 \u5186\/$<\/td><td>144.60 \u5186\/$<\/td><td><strong>+10.3%\uff08\u5186\u5b89\uff09<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u9285\u306f4\u5272\u306e\u4e0a\u6607\u3001\u91d1\u306f\u7d0438%\u306e\u4e0a\u6607\u3001\u305d\u3053\u306b1\u5272\u306e\u5186\u5b89\u304c\u4e57\u308a\u307e\u3057\u305f\u3002\u30c9\u30eb\u5efa\u3066\u4fa1\u683c\u306e\u4e0a\u6607\u3068\u5186\u5b89\u306f\u639b\u3051\u7b97\u3067\u52b9\u304f\u306e\u3067\u3001\u5186\u63db\u7b97\u3057\u305f\u9285\u4fa1\u683c\u306f\u524d\u5e74\u540c\u671f\u6bd4\u3067\u7d041.54\u500d\u3001\u91d1\u306f\u7d041.52\u500d\u306b\u306a\u3063\u305f\u8a08\u7b97\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>2\u3064\u306e\u6570\u5b57\u306e\u5897\u6e1b\u7387\u304c\u98df\u3044\u9055\u3063\u3066\u3044\u305f\u3089\u3001\u305d\u3053\u306b\u306f\u5fc5\u305a\u7406\u7531\u304c\u3042\u308a\u307e\u3059\u3002<\/strong> \u300c\u751f\u7523\u91cf\u30de\u30a4\u30ca\u30b9\u300d\u3068\u300c\u58f2\u4e0a\u30d7\u30e9\u30b942%\u300d\u304c\u540c\u5c45\u3057\u3066\u3044\u308b\u3068\u304d\u3001\u305d\u306e\u5dee\u3092\u57cb\u3081\u3066\u3044\u308b\u306e\u306f\u4fa1\u683c\u3067\u3059\u3002\u3053\u306e\u6c7a\u7b97\u3092\u4e00\u8a00\u3067\u307e\u3068\u3081\u308b\u306a\u3089\u3001\u300c\u64cd\u696d\u306f\u524d\u5e74\u4e26\u307f\u304b\u305d\u308c\u4ee5\u4e0b\u3001\u4fa1\u683c\u306f\u6b74\u53f2\u7684\u9ad8\u6c34\u6e96\u300d\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u308c\u306f\u60aa\u3044\u30cb\u30e5\u30fc\u30b9\u3067\u3057\u3087\u3046\u304b\u3002\u305d\u3046\u3068\u306f\u9650\u308a\u307e\u305b\u3093\u3002\u4f1a\u793e\u306f\u83f1\u5208\u9271\u5c71\u306b\u3064\u3044\u3066\u300c\u5e74\u9593\u8ca9\u58f2\u91d1\u91cf3.5t\u306b\u5411\u3051\u9806\u8abf\u306a\u64cd\u696d\u3092\u7d99\u7d9a\u300d\u3068\u66f8\u3044\u3066\u304a\u308a\u3001\u8a08\u753b\u3069\u304a\u308a\u306b\u6398\u3063\u3066\u3044\u307e\u3059\u3002\u751f\u7523\u91cf\u304c\u6e1b\u3063\u305f\u306e\u306f\u3001\u6771\u4e88\u5de5\u5834\u306e\u7089\u4fee\u30b5\u30a4\u30af\u30eb\u3084\u7d66\u9271\u54c1\u4f4d\u306e\u5909\u52d5\u3068\u3044\u3063\u305f\u3001\u3053\u306e\u696d\u754c\u3067\u306f\u65e5\u5e38\u7684\u306a\u8981\u56e0\u304c\u4e2d\u5fc3\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u305f\u3060\u3001<strong>\u6295\u8cc7\u5224\u65ad\u306e\u6750\u6599\u3068\u3057\u3066\u306f\u3001\u300c\u5024\u6bb5\u3067\u5897\u3048\u305f\u5229\u76ca\u300d\u3068\u300c\u91cf\u3084\u30b3\u30b9\u30c8\u6539\u5584\u3067\u5897\u3048\u305f\u5229\u76ca\u300d\u306f\u6027\u8cea\u304c\u307e\u3063\u305f\u304f\u9055\u3044\u307e\u3059\u3002<\/strong> \u524d\u8005\u306f\u540c\u3058\u7406\u7531\u3067\u6d88\u3048\u307e\u3059\u3002\u3053\u3053\u3092\u6df7\u305c\u3066\u8aad\u3080\u3068\u3001\u4fa1\u683c\u304c\u53cd\u8ee2\u3057\u305f\u3068\u304d\u306b\u9a5a\u304f\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">4. \u6df1\u6398\u308a\uff1a\u5229\u76ca\u306f\u3069\u3053\u304b\u3089\u5897\u3048\u305f\u306e\u304b\u2014\u2014\u4f1a\u793e\u81ea\u8eab\u306e\u300c\u4fa1\u683c\u611f\u5fdc\u5ea6\u300d\u3067\u5206\u89e3\u3057\u3066\u307f\u308b<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u300c\u4fa1\u683c\u3067\u5897\u3048\u305f\u300d\u3068\u8a00\u3046\u3060\u3051\u3067\u306f\u5206\u6790\u306b\u306a\u308a\u307e\u305b\u3093\u3002\u3069\u306e\u304f\u3089\u3044\u4fa1\u683c\u3067\u8aac\u660e\u3067\u304d\u308b\u306e\u304b\u3092\u3001\u6570\u5b57\u3067\u78ba\u304b\u3081\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u5e78\u3044\u3001\u3053\u306e\u4f1a\u793e\u306f\u81ea\u5206\u3067\u7b54\u3048\u5408\u308f\u305b\u306e\u9053\u5177\u3092\u914d\u3063\u3066\u3044\u307e\u3059\u3002\u4e2d\u671f\u7d4c\u55b6\u8a08\u753b2027\u306e\u8cc7\u6599\u306b\u3001<strong>\u4fa1\u683c\u611f\u5fdc\u5ea6<\/strong>\u306e\u8868\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><strong>\u7528\u8a9e\u30e1\u30e2\uff1a\u4fa1\u683c\u611f\u5fdc\u5ea6<\/strong> \u300c\u9285\u306e\u4fa1\u683c\u304c1\u30c8\u30f3\u3042\u305f\u308a100\u30c9\u30eb\u52d5\u3044\u305f\u3089\u3001\u5229\u76ca\u306f\u3044\u304f\u3089\u52d5\u304f\u304b\u300d\u3092\u4f1a\u793e\u304c\u8a66\u7b97\u3057\u305f\u3082\u306e\u3067\u3059\u3002\u8cc7\u6e90\u30fb\u88fd\u932c\u30fb\u6750\u6599\u3068\u5e45\u5e83\u3044\u4e8b\u696d\u3092\u6301\u3064\u4f1a\u793e\u307b\u3069\u3001\u3053\u306e\u8868\u304c\u3042\u308b\u3068\u5916\u90e8\u304b\u3089\u691c\u8a3c\u3057\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u4e2d\u8a0827\uff082027\u5e74\u5ea6\u30d9\u30fc\u30b9\uff09\u306e\u4fa1\u683c\u611f\u5fdc\u5ea6<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u8981\u7d20<\/th><th>\u5909\u52d5\u5e45<\/th><th>\u7a0e\u5f15\u524d\u5229\u76ca\u3078\u306e\u5f71\u97ff<\/th><\/tr><\/thead><tbody><tr><td>\u9285<\/td><td>\u00b1100 $\/t<\/td><td>\u00b132\u5104\u5186<\/td><\/tr><tr><td>\u30cb\u30c3\u30b1\u30eb<\/td><td>\u00b110 \u00a2\/lb<\/td><td>\u00b115\u5104\u5186<\/td><\/tr><tr><td>\u91d1<\/td><td>\u00b110 $\/toz<\/td><td>\u00b13\u5104\u5186<\/td><\/tr><tr><td>\u70ba\u66ff<\/td><td>\u00b11 \u5186\/$<\/td><td>\u00b116\u5104\u5186<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u8868\u3092\u4f7f\u3046\u3068\u3001\u300c\u4e2d\u8a08\u306e\u76ee\u6a191,400\u5104\u5186\u300d\u3068\u300c\u4eca\u671f\u4e88\u60f33,240\u5104\u5186\u300d\u306e\u5dee\u304c\u4f55\u3067\u3067\u304d\u3066\u3044\u308b\u306e\u304b\u3092\u3001\u81ea\u5206\u3067\u8a08\u7b97\u3067\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u524d\u63d0\u4fa1\u683c\u306e\u5dee<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u8981\u7d20<\/th><th>\u4e2d\u8a0827\u306e\u524d\u63d0<\/th><th>2027\u5e743\u6708\u671f\u306e\u4f1a\u793e\u4e88\u60f3\u306e\u524d\u63d0<\/th><th>\u5dee<\/th><\/tr><\/thead><tbody><tr><td>\u9285<\/td><td>9,400 $\/t<\/td><td>12,706 $\/t<\/td><td>+3,306<\/td><\/tr><tr><td>\u30cb\u30c3\u30b1\u30eb<\/td><td>7.50 $\/lb<\/td><td>7.68 $\/lb<\/td><td>+0.18<\/td><\/tr><tr><td>\u91d1<\/td><td>2,400 $\/toz<\/td><td>4,204.1 $\/toz<\/td><td>+1,804.1<\/td><\/tr><tr><td>\u70ba\u66ff<\/td><td>140.00 \u5186\/$<\/td><td>159.87 \u5186\/$<\/td><td>+19.87<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u611f\u5fdc\u5ea6\u3092\u639b\u3051\u5408\u308f\u305b\u308b\uff08\u7b46\u8005\u306e\u6982\u7b97\uff09<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u9285\uff1a3,306 \u00f7 100 \u00d7 32\u5104\u5186 = <strong>+1,058\u5104\u5186<\/strong><\/li>\n\n\n\n<li>\u30cb\u30c3\u30b1\u30eb\uff1a0.18 \u00f7 0.10 \u00d7 15\u5104\u5186 = <strong>+27\u5104\u5186<\/strong><\/li>\n\n\n\n<li>\u91d1\uff1a1,804.1 \u00f7 10 \u00d7 3\u5104\u5186 = <strong>+541\u5104\u5186<\/strong><\/li>\n\n\n\n<li>\u70ba\u66ff\uff1a19.87 \u00d7 16\u5104\u5186 = <strong>+318\u5104\u5186<\/strong><\/li>\n\n\n\n<li><strong>\u5408\u8a08\uff1a+1,944\u5104\u5186<\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u305d\u3057\u3066\u3001<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>1,400\u5104\u5186\uff08\u4e2d\u8a08\u76ee\u6a19\uff09\uff0b 1,944\u5104\u5186\uff08\u4fa1\u683c\u30fb\u70ba\u66ff\u306e\u5dee\uff09\uff1d 3,344\u5104\u5186<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f1a\u793e\u306e\u4eca\u671f\u4e88\u60f3\u306f<strong>3,240\u5104\u5186<\/strong>\u3002\u5dee\u306f104\u5104\u5186\u3067\u3001\u7387\u306b\u3059\u308b\u30683%\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3082\u3061\u308d\u3093\u3053\u308c\u306f\u6982\u7b97\u3067\u3059\u3002\u611f\u5fdc\u5ea6\u306f2027\u5e74\u5ea6\u306e\u4e8b\u696d\u69cb\u6210\u3092\u524d\u63d0\u306b\u3057\u305f\u6570\u5b57\u3067\u3059\u3057\u3001\u751f\u7523\u91cf\u3084\u30b3\u30b9\u30c8\u306e\u9055\u3044\u3082\u7121\u8996\u3057\u3066\u3044\u307e\u3059\u3002\u305d\u308c\u3067\u3082\u3001<strong>\u4e2d\u8a08\u6700\u7d42\u5e74\u5ea6\u306e\u76ee\u6a19\u30922.3\u500d\u3082\u4e0a\u56de\u308b\u5229\u76ca\u4e88\u60f3\u304c\u3001\u4fa1\u683c\u3068\u70ba\u66ff\u306e\u524d\u63d0\u5dee\u3060\u3051\u3067\u307b\u307c\u8aac\u660e\u3057\u304d\u308c\u3066\u3057\u307e\u3046<\/strong>\u3068\u3044\u3046\u4e8b\u5b9f\u306f\u3001\u3053\u306e\u4f1a\u793e\u3092\u898b\u308b\u3046\u3048\u3067\u6c7a\u5b9a\u7684\u306b\u91cd\u8981\u3060\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7b2c1\u7ae0\u306e\u898b\u65b9\u306b\u623b\u308a\u307e\u3059\u3002\u3053\u306e\u4f1a\u793e\u306f\u3001\u539f\u6599\u3092\u8cb7\u3046\u4ee3\u308f\u308a\u306b\u539f\u6599\u306e\u63a1\u308c\u308b\u5834\u6240\u306e\u6301\u3061\u5206\u3092\u6301\u3063\u3066\u3044\u307e\u3059\u3002\u305d\u306e\u6301\u3061\u5206\u306e\u4fa1\u5024\u306f\u3001\u6398\u308b\u91cf\u3067\u306f\u306a\u304f\u3001\u6398\u3063\u305f\u3082\u306e\u306e\u5024\u6bb5\u3067\u6c7a\u307e\u308a\u307e\u3059\u3002<strong>\u5024\u6bb5\u306f\u81ea\u5206\u3067\u306f\u6c7a\u3081\u3089\u308c\u307e\u305b\u3093\u3002<\/strong> \u611f\u5fdc\u5ea6\u8868\u306f\u3001\u305d\u306e\u300c\u6c7a\u3081\u3089\u308c\u306a\u3055\u300d\u3092\u4f1a\u793e\u81ea\u8eab\u304c\u6570\u5024\u5316\u3057\u305f\u3082\u306e\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u88cf\u8fd4\u3059\u3068\u3001\u3053\u306e\u8868\u306f\u4e0b\u632f\u308c\u306e\u8a08\u7b97\u306b\u3082\u540c\u3058\u3088\u3046\u306b\u4f7f\u3048\u307e\u3059\u3002\u4eee\u306b\u9285\u304c1\u30c8\u30f3\u3042\u305f\u308a2,000\u30c9\u30eb\u4e0b\u304c\u308c\u3070\u3001\u7a0e\u5f15\u524d\u5229\u76ca\u306f\u6982\u7b97\u3067640\u5104\u5186\u6e1b\u308b\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002\u540c\u3058\u9053\u5177\u3067\u3001\u4e21\u65b9\u5411\u3092\u6e2c\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><strong>\u7528\u8a9e\u30e1\u30e2\uff1aTOZ\uff08\u30c8\u30ed\u30a4\u30aa\u30f3\u30b9\uff09\u3068$\/lb<\/strong> \u91d1\u306e\u56fd\u969b\u4fa1\u683c\u306f1\u30c8\u30ed\u30a4\u30aa\u30f3\u30b9\uff08\u7d0431.1g\uff09\u3042\u305f\u308a\u306e\u30c9\u30eb\u3067\u8868\u793a\u3055\u308c\u307e\u3059\u30024,516\u30c9\u30eb\/TOZ\u306f\u30011\u30b0\u30e9\u30e0\u3042\u305f\u308a\u7d04145\u30c9\u30eb\u3068\u3044\u3046\u610f\u5473\u3067\u3059\u3002\u30cb\u30c3\u30b1\u30eb\u306f\u30dd\u30f3\u30c9\uff08\u7d04454g\uff09\u3042\u305f\u308a\u306e\u30c9\u30eb\u8868\u793a\u304c\u6163\u4f8b\u3067\u3059\u3002\u5358\u4f4d\u304c\u88fd\u54c1\u3054\u3068\u306b\u9055\u3046\u306e\u3067\u3001\u6bd4\u8f03\u3059\u308b\u3068\u304d\u306f\u6ce8\u610f\u304c\u5fc5\u8981\u3067\u3059\u3002<\/p>\n<\/blockquote>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">5. \u898b\u3048\u65b9\u304c\u8aa4\u89e3\u3092\u751f\u3080\u6570\u5b57\u2461\u2014\u2014\u8cc7\u6e90\u30bb\u30b0\u30e1\u30f3\u30c8\u306e\u300c\u5229\u76ca\u738778%\u300d\u306e\u6b63\u4f53<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u30bb\u30b0\u30e1\u30f3\u30c8\u5225\u306e\u6570\u5b57\u3092\u898b\u308b\u3068\u3001\u3082\u3063\u3068\u5947\u5999\u306a\u3082\u306e\u304c\u51fa\u3066\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>2026\u5e744\u301c6\u6708\u306e\u30bb\u30b0\u30e1\u30f3\u30c8\u5225\u696d\u7e3e<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u30bb\u30b0\u30e1\u30f3\u30c8<\/th><th>\u58f2\u4e0a\u9ad8<\/th><th>\u30bb\u30b0\u30e1\u30f3\u30c8\u5229\u76ca<\/th><th>\u5229\u76ca\u00f7\u58f2\u4e0a<\/th><th>\u524d\u5e74\u540c\u671f\u306e\u5229\u76ca<\/th><\/tr><\/thead><tbody><tr><td>\u8cc7\u6e90<\/td><td>916\u5104\u5186<\/td><td>713\u5104\u5186<\/td><td><strong>77.8%<\/strong><\/td><td>359\u5104\u5186<\/td><\/tr><tr><td>\u88fd\u932c<\/td><td>4,143\u5104\u5186<\/td><td>365\u5104\u5186<\/td><td>8.8%<\/td><td>\u25b338\u5104\u5186<\/td><\/tr><tr><td>\u6750\u6599<\/td><td>896\u5104\u5186<\/td><td>92\u5104\u5186<\/td><td>10.2%<\/td><td>25\u5104\u5186<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\uff08\u30bb\u30b0\u30e1\u30f3\u30c8\u9593\u58f2\u4e0a\u3092\u542b\u3080\u3002\u30bb\u30b0\u30e1\u30f3\u30c8\u5229\u76ca\u306f\u7a0e\u5f15\u524d\u30d9\u30fc\u30b9\uff09<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8cc7\u6e90\u30bb\u30b0\u30e1\u30f3\u30c8\u306f\u3001\u58f2\u4e0a916\u5104\u5186\u306b\u5bfe\u3057\u3066\u5229\u76ca713\u5104\u5186\u3002\u5229\u76ca\u738777.8%\u3067\u3059\u3002\u88fd\u9020\u696d\u3067\u3053\u3093\u306a\u6570\u5b57\u306f\u666e\u901a\u306f\u51fa\u307e\u305b\u3093\u3002\u4f55\u304b\u304c\u304a\u304b\u3057\u3044\u3001\u3068\u601d\u3046\u306e\u304c\u6b63\u3057\u3044\u53cd\u5fdc\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7b54\u3048\u306f2\u3064\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u7406\u75311\uff1a\u51fa\u8cc7\u5148\u306e\u9271\u5c71\u306e\u5229\u76ca\u306f\u3001\u58f2\u4e0a\u3092\u901a\u3089\u305a\u306b\u5229\u76ca\u3060\u3051\u304c\u5165\u3063\u3066\u304f\u308b\u3002<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f4f\u53cb\u91d1\u5c5e\u9271\u5c71\u304c\u6a29\u76ca\u3092\u6301\u3064\u6d77\u5916\u9271\u5c71\u306e\u591a\u304f\u306f\u3001100%\u5b50\u4f1a\u793e\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u30e2\u30ec\u30f3\u30b7\u30fc\u9285\u9271\u5c71\u306f\u6a29\u76ca25%\u3001\u30bb\u30ed\u30fb\u30d9\u30eb\u30c7\u9285\u9271\u5c71\u306f16.8%\u3001\u30b1\u30d6\u30e9\u30c0\u30fb\u30d6\u30e9\u30f3\u30ab\u9285\u9271\u5c71\u306f25%\u3001\u30b3\u30c6\u91d1\u9271\u5c71\u306f30%\u3067\u3059\u3002\u3053\u308c\u3089\u306f\u6301\u5206\u6cd5\u9069\u7528\u4f1a\u793e\u3068\u3057\u3066\u6271\u308f\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u6301\u5206\u6cd5\u3067\u306f\u3001\u51fa\u8cc7\u5148\u306e\u58f2\u4e0a\u306f\u81ea\u793e\u306e\u58f2\u4e0a\u9ad8\u306b\u5408\u7b97\u3055\u308c\u307e\u305b\u3093\u3002\u51fa\u8cc7\u5148\u304c\u7a3c\u3044\u3060\u5229\u76ca\u306e\u3046\u3061\u81ea\u5206\u306e\u6301\u3061\u5206\u3060\u3051\u304c\u3001\u640d\u76ca\u8a08\u7b97\u66f8\u306e\u300c\u6301\u5206\u6cd5\u306b\u3088\u308b\u6295\u8cc7\u640d\u76ca\u300d\u3068\u3044\u30461\u884c\u306b\u5165\u308a\u307e\u3059\u3002<strong>\u58f2\u4e0a\u30bc\u30ed\u3067\u5229\u76ca\u3060\u3051\u304c\u8a08\u4e0a\u3055\u308c\u308b<\/strong>\u306e\u3067\u3001\u5272\u308a\u7b97\u3092\u3059\u308c\u3070\u5229\u76ca\u7387\u306f\u8df3\u306d\u4e0a\u304c\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u56db\u534a\u671f\u306e\u6301\u5206\u6cd5\u306b\u3088\u308b\u6295\u8cc7\u640d\u76ca\u306f172\u5104\u5186\uff08\u524d\u5e74\u540c\u671f86\u5104\u5186\uff09\u3067\u3001\u3061\u3087\u3046\u30692\u500d\u306b\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u7406\u75312\uff1a\u51fa\u8cc7\u5148\u3078\u306e\u8cb8\u4ed8\u91d1\u306e\u5229\u606f\u3082\u3001\u8cc7\u6e90\u30bb\u30b0\u30e1\u30f3\u30c8\u306e\u5229\u76ca\u306b\u306a\u308b\u3002<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u6d77\u5916\u306e\u5927\u578b\u9271\u5c71\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u306b\u306f\u3001\u51fa\u8cc7\u3068\u4f75\u305b\u3066\u9577\u671f\u306e\u8cb8\u4ed8\u3092\u884c\u3063\u3066\u3044\u307e\u3059\u30022026\u5e743\u6708\u671f\u306b\u306f\u9577\u671f\u8cb8\u4ed8\u3051\u306b\u3088\u308b\u652f\u51fa\u304c522\u5104\u5186\u3042\u308a\u307e\u3057\u305f\u3002\u3053\u306e\u8cb8\u4ed8\u304b\u3089\u751f\u3058\u308b\u53d7\u53d6\u5229\u606f\u306f\u300c\u91d1\u878d\u53ce\u76ca\u300d\u306b\u5165\u308a\u307e\u3059\u3002\u3053\u306e\u56db\u534a\u671f\u306e\u91d1\u878d\u53ce\u76ca\u306f174\u5104\u5186\u3067\u3059\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><strong>\u7528\u8a9e\u30e1\u30e2\uff1a\u6301\u5206\u6cd5\u306b\u3088\u308b\u6295\u8cc7\u640d\u76ca<\/strong> 20%\u301c50%\u7a0b\u5ea6\u3092\u51fa\u8cc7\u3057\u3066\u3044\u3066\u3001\u652f\u914d\u306f\u3057\u3066\u3044\u306a\u3044\u304c\u5f71\u97ff\u529b\u306f\u3042\u308b\u4f1a\u793e\u306b\u3064\u3044\u3066\u3001\u305d\u306e\u4f1a\u793e\u306e\u5229\u76ca\u306e\u3046\u3061\u81ea\u793e\u306e\u6301\u3061\u5206\u3060\u3051\u3092\u53d6\u308a\u8fbc\u3080\u4f1a\u8a08\u51e6\u7406\u3067\u3059\u3002\u58f2\u4e0a\u9ad8\u306b\u306f\u53cd\u6620\u3055\u308c\u307e\u305b\u3093\u3002\u300c\u58f2\u4e0a\u306f\u5c0f\u3055\u3044\u306e\u306b\u5229\u76ca\u306f\u5927\u304d\u3044\u300d\u3068\u3044\u3046\u4f1a\u793e\u3092\u898b\u305f\u3089\u3001\u307e\u305a\u3053\u3053\u3092\u7591\u3046\u3068\u5f53\u305f\u308b\u3053\u3068\u304c\u591a\u3044\u3067\u3059\u3002<\/p>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\">5-1. \u7a0e\u5f15\u524d\u5229\u76ca1,180\u5104\u5186\u306e\u4e2d\u8eab\u3092\u5272\u3063\u3066\u307f\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u640d\u76ca\u8a08\u7b97\u66f8\u3092\u4e0a\u304b\u3089\u8ffd\u3046\u3068\u3001\u3053\u3046\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u6bb5\u968e<\/th><th>\u91d1\u984d<\/th><\/tr><\/thead><tbody><tr><td>\u58f2\u4e0a\u7dcf\u5229\u76ca<\/td><td>1,096\u5104\u5186<\/td><\/tr><tr><td>\u2212\u8ca9\u58f2\u8cbb\u53ca\u3073\u4e00\u822c\u7ba1\u7406\u8cbb<\/td><td>\u25b3197\u5104\u5186<\/td><\/tr><tr><td>\uff08\uff1d\u55b6\u696d\u6bb5\u968e\u306e\u5229\u76ca\uff09<\/td><td><strong>899\u5104\u5186<\/strong><\/td><\/tr><tr><td>\uff0b\u91d1\u878d\u53ce\u76ca<\/td><td>+174\u5104\u5186<\/td><\/tr><tr><td>\u2212\u91d1\u878d\u8cbb\u7528<\/td><td>\u25b349\u5104\u5186<\/td><\/tr><tr><td>\uff0b\u6301\u5206\u6cd5\u306b\u3088\u308b\u6295\u8cc7\u640d\u76ca<\/td><td>+172\u5104\u5186<\/td><\/tr><tr><td>\uff0b\u305d\u306e\u4ed6\u306e\u53ce\u76ca<\/td><td>+24\u5104\u5186<\/td><\/tr><tr><td>\u2212\u305d\u306e\u4ed6\u306e\u8cbb\u7528<\/td><td>\u25b340\u5104\u5186<\/td><\/tr><tr><td><strong>\uff1d\u7a0e\u5f15\u524d\u56db\u534a\u671f\u5229\u76ca<\/strong><\/td><td><strong>1,180\u5104\u5186<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u878d\u53ce\u76ca174\u5104\u5186\u3068\u6301\u5206\u6cd5172\u5104\u5186\u3092\u8db3\u3059\u3068346\u5104\u5186\u3067\u3001**\u7a0e\u5f15\u524d\u5229\u76ca\u306e29%**\u3092\u5360\u3081\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u524d\u5e74\u540c\u671f\u306f\u3053\u306e\u6bd4\u7387\u304c\u3082\u3063\u3068\u6975\u7aef\u3067\u3057\u305f\u3002\u55b6\u696d\u6bb5\u968e\u306e\u5229\u76ca161\u5104\u5186\u306b\u5bfe\u3057\u3001\u91d1\u878d\u53ce\u76ca\u3068\u6301\u5206\u6cd5\u306e\u5408\u8a08\u304c233\u5104\u5186\u3002<strong>\u7a0e\u5f15\u524d\u5229\u76ca379\u5104\u5186\u306e61%\u304c\u3001\u30e2\u30ce\u3092\u4f5c\u3063\u3066\u58f2\u308b\u4ee5\u5916\u306e\u3068\u3053\u308d\u304b\u3089\u6765\u3066\u3044\u307e\u3057\u305f\u3002<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u308c\u3082\u7b2c1\u7ae0\u306e\u898b\u65b9\u306e\u5e30\u7d50\u3067\u3059\u3002\u300c\u539f\u6599\u304c\u63a1\u308c\u308b\u5834\u6240\u306e\u6301\u3061\u5206\u3092\u8cb7\u3046\u300d\u3068\u3044\u3046\u6226\u7565\u3092\u53d6\u308b\u3068\u3001\u6c7a\u7b97\u66f8\u306e\u5229\u76ca\u306f\u3001\u5de5\u5834\u304b\u3089\u51fa\u3066\u304f\u308b\u3060\u3051\u3067\u306a\u304f\u3001\u51fa\u8cc7\u5148\u306e\u6301\u3061\u5206\u3068\u8cb8\u4ed8\u306e\u5229\u606f\u304b\u3089\u3082\u51fa\u3066\u304d\u307e\u3059\u3002<strong>\u3053\u306e\u4f1a\u793e\u306e\u640d\u76ca\u8a08\u7b97\u66f8\u3092\u3001\u55b6\u696d\u5229\u76ca\u306e\u611f\u899a\u3067\u8aad\u3080\u3068\u5fc5\u305a\u8aad\u307f\u9055\u3048\u307e\u3059\u3002<\/strong> \u305d\u3082\u305d\u3082\u640d\u76ca\u8a08\u7b97\u66f8\u306b\u55b6\u696d\u5229\u76ca\u306e\u884c\u304c\u306a\u3044\u306e\u306f\u3001\u5076\u7136\u3067\u306f\u306a\u304f\u3001\u3053\u306e\u69cb\u9020\u306e\u53cd\u6620\u3067\u3059\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">6. \u30bb\u30b0\u30e1\u30f3\u30c8\u5225\u306b\u4f55\u304c\u8d77\u304d\u305f\u304b<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">6-1. \u8cc7\u6e90\uff1a\u51fa\u8cc7\u5148\u306e\u9271\u5c71\u304c\u52b9\u3044\u3066\u304d\u305f<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30bb\u30b0\u30e1\u30f3\u30c8\u5229\u76ca\u306f359\u5104\u5186\u304b\u3089713\u5104\u5186\u3078\u3001+98.7%\u3002\u58f2\u4e0a\u308258.8%\u5897\u3048\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f1a\u793e\u306e\u8aac\u660e\u306f\u3001\u9285\u30fb\u91d1\u4fa1\u683c\u306e\u4e0a\u6607\u306b\u52a0\u3048\u3066\u3001<strong>\u30b1\u30d6\u30e9\u30c0\u30fb\u30d6\u30e9\u30f3\u30ab\u9285\u9271\u5c71\uff08\u30c1\u30ea\uff09\u3068\u30b3\u30c6\u91d1\u9271\u5c71\uff08\u30ab\u30ca\u30c0\uff09\u306e\u5b89\u5b9a\u64cd\u696d<\/strong>\u304c\u52b9\u3044\u305f\u3001\u3068\u3044\u3046\u3082\u306e\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e3b\u8981\u9271\u5c71\u306e\u72b6\u6cc1\uff084\u301c6\u6708\uff09\u306f\u6b21\u306e\u3068\u304a\u308a\u3067\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u9271\u5c71<\/th><th>\u751f\u7523\u91cf<\/th><th>\u5f53\u793e\u6a29\u76ca<\/th><th>\u524d\u5e74\u540c\u671f\u6bd4<\/th><\/tr><\/thead><tbody><tr><td>\u83f1\u5208\uff08\u65e5\u672c\u30fb\u91d1\uff09<\/td><td>\u8ca9\u58f2\u91d1\u91cf1.1t<\/td><td>100%<\/td><td>\u5e74\u95933.5t\u8a08\u753b\u306b\u5bfe\u3057\u9806\u8abf<\/td><\/tr><tr><td>\u30e2\u30ec\u30f3\u30b7\u30fc\uff08\u7c73\u56fd\u30fb\u9285\uff09<\/td><td>73\u5343t<\/td><td>25.0%<\/td><td>\u4e0a\u56de\u308b<\/td><\/tr><tr><td>\u30bb\u30ed\u30fb\u30d9\u30eb\u30c7\uff08\u30da\u30eb\u30fc\u30fb\u9285\uff09<\/td><td>95\u5343t<\/td><td>16.8%<\/td><td>\u524d\u5e74\u4e26\u307f<\/td><\/tr><tr><td>\u30b1\u30d6\u30e9\u30c0\u30fb\u30d6\u30e9\u30f3\u30ab\uff08\u30c1\u30ea\u30fb\u9285\uff09<\/td><td>54\u5343t<\/td><td>25.0%<\/td><td>\u4e0a\u56de\u308b<\/td><\/tr><tr><td>\u30b3\u30c6\uff08\u30ab\u30ca\u30c0\u30fb\u91d1\uff09<\/td><td>2.3t<\/td><td>30.0%<\/td><td>\u524d\u5e74\u4e26\u307f<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u30b1\u30d6\u30e9\u30c0\u30fb\u30d6\u30e9\u30f3\u30ab\u3068\u30b3\u30c6\u306f\u3001\u524d\u306e\u4e2d\u671f\u7d4c\u55b6\u8a08\u753b\uff0821\u4e2d\u8a08\uff09\u306e\u76ee\u7389\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u3067\u3057\u305f\u3002\u4e21\u65b9\u3068\u3082\u7acb\u3061\u4e0a\u3052\u304c\u9045\u308c\u3001\u30b3\u30b9\u30c8\u3082\u8a08\u753b\u3092\u5927\u5e45\u306b\u8d85\u904e\u3057\u3001\u4f1a\u793e\u81ea\u8eab\u304c\u4e2d\u8a0827\u306e\u8cc7\u6599\u3067\u300c\u53ce\u76ca\u306e\u672c\u683c\u8ca2\u732e\u306f\u4e2d\u8a0827\u671f\u9593\u4e2d\u306b\u305a\u308c\u8fbc\u3093\u3060\u300d\u3068\u53cd\u7701\u3092\u66f8\u3044\u3066\u3044\u307e\u3059\u3002<strong>\u305d\u306e2\u3064\u304c\u3001\u3088\u3046\u3084\u304f\u5229\u76ca\u3068\u3057\u3066\u51fa\u3066\u304d\u305f\u56db\u534a\u671f<\/strong>\u3001\u3068\u3044\u3046\u4f4d\u7f6e\u3065\u3051\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u30b1\u30d6\u30e9\u30c0\u30fb\u30d6\u30e9\u30f3\u30ab\u306e\u751f\u7523\u91cf54\u5343t\uff08100%\u30d9\u30fc\u30b9\uff09\u306f\u3001\u524d\u5e74\u540c\u671f41\u5343t\u304b\u30893\u5272\u4ee5\u4e0a\u5897\u3048\u3066\u3044\u307e\u3059\u30022026\u5e743\u6708\u671f\u901a\u671f\u3067\u306f\u5c3e\u9271\u5806\u7a4d\u5834\u306e\u51e6\u7406\u80fd\u529b\u306e\u5236\u7d04\u3067\u6e1b\u7523\u3057\u3066\u3044\u305f\u306e\u3067\u3001\u305d\u3053\u304b\u3089\u306e\u56de\u5fa9\u3082\u542b\u307e\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">6-2. \u88fd\u932c\uff1a\u8d64\u5b57\u304b\u3089365\u5104\u5186\u306e\u9ed2\u5b57\u3078<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u524d\u5e74\u540c\u671f\u306f38\u5104\u5186\u306e\u8d64\u5b57\u3067\u3057\u305f\u3002\u4eca\u671f\u306f365\u5104\u5186\u306e\u9ed2\u5b57\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f1a\u793e\u306e\u8aac\u660e\u306f\u3001<strong>\u5186\u5b89\u306e\u9032\u884c\u3068\u3001\u975e\u9244\u91d1\u5c5e\u4fa1\u683c\u306e\u4e0a\u6607\u306b\u3088\u308b\u5728\u5eab\u8a55\u4fa1\u640d\u76ca\u7b49\u306e\u597d\u8ee2<\/strong>\u3067\u3059\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><strong>\u7528\u8a9e\u30e1\u30e2\uff1a\u5728\u5eab\u8a55\u4fa1\u640d\u76ca<\/strong> \u88fd\u932c\u4f1a\u793e\u306f\u3001\u9271\u77f3\u3092\u8cb7\u3063\u3066\u304b\u3089\u91d1\u5c5e\u3068\u3057\u3066\u58f2\u308b\u307e\u3067\u306b\u6570\u304b\u6708\u304b\u304b\u308a\u307e\u3059\u3002\u305d\u306e\u9593\u306b\u91d1\u5c5e\u4fa1\u683c\u304c\u4e0a\u304c\u308c\u3070\u3001\u5b89\u304f\u4ed5\u5165\u308c\u305f\u539f\u6599\u304c\u9ad8\u304f\u58f2\u308c\u308b\u306e\u3067\u5229\u76ca\u304c\u51fa\u307e\u3059\u3002\u4e0b\u304c\u308c\u3070\u9006\u3067\u3059\u3002\u5b9f\u529b\u3068\u306f\u95a2\u4fc2\u306a\u304f\u3001\u4fa1\u683c\u306e\u30c8\u30ec\u30f3\u30c9\u3060\u3051\u3067\u6570\u767e\u5104\u5186\u52d5\u304f\u3053\u3068\u304c\u3042\u308a\u307e\u3059\u3002\u88fd\u932c\u4e8b\u696d\u306e\u5229\u76ca\u3092\u898b\u308b\u3068\u304d\u306b\u3001\u6700\u521d\u306b\u7591\u3046\u3079\u304d\u9805\u76ee\u3067\u3059\u3002<\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">\u524d\u5e74\u540c\u671f\u306b\u8d64\u5b57\u3060\u3063\u305f\u306e\u306f\u3001\u5186\u9ad8\u3068\u30cb\u30c3\u30b1\u30eb\u4fa1\u683c\u306e\u4e0b\u843d\u3067\u3001\u3053\u306e\u5728\u5eab\u8a55\u4fa1\u640d\u76ca\u304c\u30de\u30a4\u30ca\u30b9\u306b\u632f\u308c\u305f\u305f\u3081\u3067\u3057\u305f\u3002\u3064\u307e\u308a\u88fd\u932c\u30bb\u30b0\u30e1\u30f3\u30c8\u306e\u9ed2\u5b57\u8ee2\u63db\u306f\u3001<strong>\u69cb\u9020\u304c\u5909\u308f\u3063\u305f\u3068\u3044\u3046\u3088\u308a\u3001\u4fa1\u683c\u306e\u5411\u304d\u304c\u5909\u308f\u3063\u305f<\/strong>\u3068\u8aad\u3080\u306e\u304c\u7d20\u76f4\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u3053\u3067\u3082\u7b2c1\u7ae0\u306e\u898b\u65b9\u304c\u52b9\u304d\u307e\u3059\u3002\u88fd\u932c\u4e8b\u696d\u306f\u539f\u6599\u3067\u3042\u308b\u9285\u7cbe\u9271\u3092\u5916\u304b\u3089\u8cb7\u3046\u306e\u3067\u3001\u8cb7\u9271\u6761\u4ef6\uff08TC\/RC\uff09\u306e\u60aa\u5316\u306f\u9006\u98a8\u3067\u3059\u3002\u4f1a\u793e\u306f\u4e2d\u8a0827\u3067\u300c\u6b74\u53f2\u7684\u4f4e\u6c34\u6e96\u3067\u306eTC\/RC\u63a8\u79fb\u304c\u898b\u8fbc\u307e\u308c\u308b\u300d\u3068\u660e\u8a18\u3057\u3066\u3044\u307e\u3059\u3002\u3057\u304b\u3057\u540c\u3058\u4f1a\u793e\u304c\u3001\u305d\u306e\u9285\u7cbe\u9271\u3092\u7523\u3080\u9271\u5c71\u306e\u6a29\u76ca\u3082\u6301\u3063\u3066\u3044\u307e\u3059\u3002<strong>\u88fd\u932c\u3067\u53d6\u308a\u5206\u304c\u6e1b\u3063\u305f\u5206\u306f\u3001\u8cc7\u6e90\u3067\u53d6\u308a\u5206\u304c\u5897\u3048\u308b\u3002<\/strong> \u4f1a\u793e\u306f\u3053\u308c\u3092\u300c\u8cc7\u6e90\u4e8b\u696d\u3068\u88fd\u932c\u4e8b\u696d\u306e\u9023\u643a\u306b\u3088\u308b\u30ea\u30b9\u30af\u30aa\u30d5\u30bb\u30c3\u30c8\u300d\u3068\u547c\u3093\u3067\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><strong>\u7528\u8a9e\u30e1\u30e2\uff1a\u8cb7\u9271\u6761\u4ef6\uff08TC\/RC\uff09<\/strong> \u88fd\u932c\u4f1a\u793e\u304c\u9271\u5c71\u304b\u3089\u9285\u7cbe\u9271\u3092\u8cb7\u3046\u3068\u304d\u306e\u3001\u88fd\u932c\u306e\u624b\u6570\u6599\u306b\u3042\u305f\u308b\u90e8\u5206\u3067\u3059\u3002\u9271\u77f3\u304c\u8db3\u308a\u305a\u88fd\u932c\u6240\u304c\u4f59\u3063\u3066\u3044\u308b\u3068\u3001\u88fd\u932c\u4f1a\u793e\u306e\u53d6\u308a\u5206\uff08TC\/RC\uff09\u306f\u4e0b\u304c\u308a\u307e\u3059\u3002\u8fd1\u5e74\u306f\u4e2d\u56fd\u3092\u4e2d\u5fc3\u306b\u88fd\u932c\u80fd\u529b\u304c\u5897\u3048\u308b\u4e00\u65b9\u3067\u9271\u77f3\u306e\u4f9b\u7d66\u304c\u7d30\u308a\u3001TC\/RC\u306f\u6b74\u53f2\u7684\u306a\u4f4e\u6c34\u6e96\u3067\u63a8\u79fb\u3057\u3066\u3044\u307e\u3059\u3002\u88fd\u932c\u4e8b\u696d\u5358\u72ec\u3067\u898b\u308c\u3070\u3001\u3053\u308c\u306f\u69cb\u9020\u7684\u306a\u9006\u98a8\u3067\u3059\u3002<\/p>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\">6-3. \u6750\u6599\uff1aAI\u5411\u3051\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\u304c\u52b9\u3044\u305f<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30bb\u30b0\u30e1\u30f3\u30c8\u5229\u76ca\u306f25\u5104\u5186\u304b\u308992\u5104\u5186\u3078\u3001+263.9%\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u5185\u8a33\u306f2\u3064\u306b\u5206\u304b\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u96fb\u6c60\u6750\u6599<\/strong>\uff1a\u96fb\u6c17\u81ea\u52d5\u8eca\u5411\u3051\u306e\u6b63\u6975\u6750\u3002\u300c\u8ca9\u58f2\u304c\u5e95\u5805\u304f\u63a8\u79fb\u3057\u305f\u300d\u3068\u3044\u3046\u63a7\u3048\u3081\u306a\u8868\u73fe\u3067\u3059\u3002\u4e16\u754c\u7684\u306bEV\u306e\u6210\u9577\u306f\u920d\u5316\u3057\u3066\u304a\u308a\u3001\u4f1a\u793e\u306f2025\u5e743\u6708\u671f\u306b\u96fb\u6c60\u6750\u6599\u3067573\u5104\u5186\u306e\u6e1b\u640d\u640d\u5931\u3092\u8a08\u4e0a\u3057\u3066\u3044\u307e\u3059\u3002\u4e2d\u8a0827\u3067\u306f\u300c\u4e8b\u696d\u898f\u6a21\u306b\u898b\u5408\u3063\u305f\u4f53\u5236\u306e\u518d\u69cb\u7bc9\u300d\u3001\u3064\u307e\u308a\u7e2e\u5c0f\u3092\u4f34\u3046\u7acb\u3066\u76f4\u3057\u304c\u63b2\u3052\u3089\u308c\u3066\u3044\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u96fb\u5b50\u90e8\u54c1\u5411\u3051\u90e8\u6750<\/strong>\uff1a\u3053\u3061\u3089\u306f\u300cAI\u5411\u3051\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\u7528\u9014\u306e\u7c89\u4f53\u6750\u6599\u3084\u30c7\u30d0\u30a4\u30b9\u6750\u6599\u3092\u4e2d\u5fc3\u306b\u5168\u4f53\u7684\u306b\u8ca9\u58f2\u304c\u597d\u8abf\u300d\u3002<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u6750\u6599\u30bb\u30b0\u30e1\u30f3\u30c8\u306e\u4f38\u3073\u306f\u3001EV\u3067\u306f\u306a\u304fAI\u304c\u727d\u5f15\u3057\u3066\u3044\u307e\u3059\u3002\u4e2d\u8a0827\u3067\u306f\u6750\u6599\u30bb\u30b0\u30e1\u30f3\u30c8\u306e2027\u5e74\u5ea6\u76ee\u6a19\u3092130\u5104\u5186\u3001\u9577\u671f\u30d3\u30b8\u30e7\u30f3\u3067\u306f\u5e74\u9593250\u5104\u5186\u3068\u3057\u3066\u3044\u307e\u3059\u304c\u3001\u4eca\u671f\u306f1\u56db\u534a\u671f\u306792\u5104\u5186\u3067\u3059\u3002\u305f\u3060\u3057\u6750\u6599\u306f\u5b63\u7bc0\u6027\u3068\u500b\u5225\u6848\u4ef6\u306e\u5f71\u97ff\u3092\u53d7\u3051\u3084\u3059\u3044\u306e\u3067\u3001<strong>1Q\u30924\u500d\u3057\u3066\u901a\u671f\u3092\u63a8\u3057\u91cf\u308b\u306e\u306f\u5371\u967a\u3067\u3059\u3002<\/strong> \u4f1a\u793e\u81ea\u8eab\u306e\u901a\u671f\u30bb\u30b0\u30e1\u30f3\u30c8\u4e88\u60f3\u306f180\u5104\u5186\u3067\u3059\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">7. \u4e2d\u671f\u7d4c\u55b6\u8a08\u753b\u3068\u306e\u8ddd\u96e2\u2014\u2014\u300c\u76ee\u6a19\u8d85\u904e\u300d\u3092\u3069\u3046\u8aad\u3080\u304b<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u7b2c1\u7ae0\u3067\u898b\u305f\u3068\u304a\u308a\u3001\u4e2d\u8a0827\u306e\u6700\u7d42\u5e74\u5ea6\uff082028\u5e743\u6708\u671f\uff09\u306e\u7a0e\u5f15\u524d\u5229\u76ca\u76ee\u6a19\u306f1,400\u5104\u5186\u3067\u3001\u4eca\u671f\u4e88\u60f33,240\u5104\u5186\u306f\u305d\u306e2.3\u500d\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7b2c4\u7ae0\u306e\u5206\u89e3\u3092\u8e0f\u307e\u3048\u308b\u3068\u3001\u3053\u306e\u300c\u8d85\u904e\u300d\u306e\u4e2d\u8eab\u306f\u3053\u3046\u6574\u7406\u3067\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u8981\u7d20<\/th><th>\u6982\u7b97<\/th><\/tr><\/thead><tbody><tr><td>\u4e2d\u8a0827\u306e2027\u5e74\u5ea6\u76ee\u6a19<\/td><td>1,400\u5104\u5186<\/td><\/tr><tr><td>\u4fa1\u683c\u30fb\u70ba\u66ff\u306e\u524d\u63d0\u5dee\u306b\u3088\u308b\u62bc\u3057\u4e0a\u3052\uff08\u7b46\u8005\u306e\u6982\u7b97\uff09<\/td><td>+1,944\u5104\u5186<\/td><\/tr><tr><td>\u6570\u91cf\u30fb\u30b3\u30b9\u30c8\u7b49\u306e\u5dee\uff08\u6b8b\u5dee\uff09<\/td><td>\u25b3104\u5104\u5186<\/td><\/tr><tr><td><strong>\u4eca\u671f\uff082027\u5e743\u6708\u671f\uff09\u4f1a\u793e\u4e88\u60f3<\/strong><\/td><td><strong>3,240\u5104\u5186<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u4fa1\u683c\u3092\u9664\u3044\u305f\u90e8\u5206\u3067\u306f\u3001\u3080\u3057\u308d\u4e2d\u8a08\u306e\u60f3\u5b9a\u306b\u5c4a\u3044\u3066\u3044\u306a\u3044\u53ef\u80fd\u6027\u304c\u3042\u308b<\/strong>\u3001\u3068\u3044\u3046\u8aad\u307f\u65b9\u304c\u6210\u308a\u7acb\u3061\u307e\u3059\u3002\u6b8b\u5dee\u25b3104\u5104\u5186\u306f\u6982\u7b97\u306e\u8aa4\u5dee\u306e\u7bc4\u56f2\u3068\u3082\u8a00\u3048\u307e\u3059\u304c\u3001\u5c11\u306a\u304f\u3068\u3082\u300c\u4fa1\u683c\u4ee5\u5916\u306e\u529b\u3067\u76ee\u6a19\u3092\u5927\u5e45\u306b\u8d85\u3048\u305f\u300d\u3068\u3044\u3046\u8a3c\u62e0\u306f\u3053\u3053\u306b\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f1a\u793e\u306f\u4e2d\u8a0827\u306e\u6642\u70b9\u3067\u30012027\u5e74\u5ea6\u306eROE\u30925.4%\u3001ROCE\u30924.4%\u3068\u898b\u8fbc\u3093\u3067\u304a\u308a\u3001\u8cc7\u6599\u306b\u306f\u300c\u4e2d\u8a0827\u671f\u9593\u306e\u53b3\u3057\u3044\u4e8b\u696d\u74b0\u5883\u3092\u8e0f\u307e\u3048\u308b\u3068\u30012027\u5e74\u5ea6\u306eROCE\u3001ROE\u306f\u8cc7\u672c\u30b3\u30b9\u30c8\u306b\u5c4a\u304b\u306a\u3044\u898b\u901a\u3057\u300d\u3068\u306f\u3063\u304d\u308a\u66f8\u3044\u3066\u3042\u308a\u307e\u3059\uff08\u682a\u4e3b\u8cc7\u672c\u30b3\u30b9\u30c8\u306f8\u301c9%\u7a0b\u5ea6\u3068\u306e\u81ea\u5df1\u8a8d\u8b58\uff09\u3002<strong>\u4f1a\u793e\u304c\u81ea\u3089\u300c\u8cc7\u672c\u30b3\u30b9\u30c8\u3092\u4e0b\u56de\u308b\u300d\u3068\u66f8\u3044\u305f\u8a08\u753b\u306e\u4e0a\u306b\u3001\u4fa1\u683c\u306e\u8ffd\u3044\u98a8\u304c\u4e57\u3063\u3066\u3044\u308b<\/strong>\u2014\u2014\u305d\u308c\u304c\u4eca\u306e\u72b6\u6cc1\u3060\u3068\u7406\u89e3\u3057\u3066\u304a\u304f\u3068\u3001\u6570\u5b57\u306b\u632f\u308a\u56de\u3055\u308c\u306b\u304f\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">8. \u4f1a\u793e\u4e88\u60f3\u306f\u300c\u4e88\u60f3\u300d\u3067\u306f\u306a\u304f\u300c\u524d\u63d0\u306e\u7ffb\u8a33\u300d<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u3082\u3046\u3072\u3068\u3064\u3001\u3053\u306e\u9298\u67c4\u3092\u8ffd\u3046\u3046\u3048\u3067\u77e5\u3063\u3066\u304a\u304f\u3068\u4fbf\u5229\u306a\u3053\u3068\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u3053\u306e\u4f1a\u793e\u306e\u901a\u671f\u696d\u7e3e\u4e88\u60f3\u306f\u3001\u8db3\u5143\u306e\u4fa1\u683c\u3092\u5c06\u6765\u306b\u305d\u306e\u307e\u307e\u7f6e\u3044\u3066\u8a08\u7b97\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4eca\u56de\u306e\u4e0a\u65b9\u4fee\u6b63\u3067\u3082\u3001\u4f1a\u793e\u306f\u300c\u4e3b\u8981\u306a\u975e\u9244\u91d1\u5c5e\u4fa1\u683c\u306f\u3001\u8db3\u5143\u306e\u6c34\u6e96\u3092\u8003\u616e\u3057\u305f\u3046\u3048\u3067\u5c06\u6765\u306e\u9700\u7d66\u30d0\u30e9\u30f3\u30b9\u3092\u4e88\u6e2c\u3057\u300d\u300c\u70ba\u66ff\u306b\u3064\u304d\u307e\u3057\u3066\u306f\u3001\u5f53\u7b2c1\u56db\u534a\u671f\u4f1a\u8a08\u671f\u9593\u672b\u306e\u6c34\u6e96\u53ca\u3073\u65e5\u7c73\u306e\u91d1\u878d\u653f\u7b56\u306e\u52d5\u5411\u7b49\u3092\u8003\u616e\u3057\u898b\u76f4\u3057\u307e\u3057\u305f\u300d\u3068\u8aac\u660e\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u901a\u671f\u306e\u524d\u63d0\u306f\u3053\u3046\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u8981\u7d20<\/th><th>1Q\u5b9f\u7e3e<\/th><th>2Q\u4ee5\u964d\u306e\u524d\u63d0<\/th><th>\u901a\u671f\u524d\u63d0<\/th><\/tr><\/thead><tbody><tr><td>\u9285<\/td><td>13,324 $\/t<\/td><td>12,500 $\/t<\/td><td>12,706 $\/t<\/td><\/tr><tr><td>\u30cb\u30c3\u30b1\u30eb<\/td><td>8.24 $\/lb<\/td><td>7.50 $\/lb<\/td><td>7.68 $\/lb<\/td><\/tr><tr><td>\u91d1<\/td><td>4,516.4 $\/TOZ<\/td><td>4,100.0 $\/TOZ<\/td><td>4,204.1 $\/TOZ<\/td><\/tr><tr><td>\u70ba\u66ff<\/td><td>159.50 \u5186\/$<\/td><td>160.00 \u5186\/$<\/td><td>159.87 \u5186\/$<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u660e\u65e5\u306e\u5929\u6c17\u3092\u4e88\u5831\u3059\u308b\u306e\u306b\u3001\u4eca\u65e5\u306e\u5929\u6c17\u3092\u305d\u306e\u307e\u307e\u66f8\u304d\u5199\u3059\u3088\u3046\u306a\u3084\u308a\u65b9\u3067\u3059\u3002\u7121\u8cac\u4efb\u3068\u3044\u3046\u610f\u5473\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u91d1\u5c5e\u4fa1\u683c\u3092\u5f53\u3066\u306b\u3044\u304f\u307b\u3046\u304c\u3088\u307b\u3069\u5371\u3046\u3044\u306e\u3067\u3001\u3053\u308c\u306f\u771f\u3063\u5f53\u306a\u4fdd\u5b88\u4e3b\u7fa9\u3067\u3059\u3002\u305f\u3060<strong>\u7d50\u679c\u3068\u3057\u3066\u3001\u696d\u7e3e\u4e88\u60f3\u306f\u300c\u898b\u901a\u3057\u300d\u3068\u3044\u3046\u3088\u308a\u300c\u4eca\u306e\u76f8\u5834\u3092\u5e74\u63db\u7b97\u3057\u305f\u6570\u5b57\u300d\u306b\u8fd1\u304f\u306a\u308a\u307e\u3059\u3002<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u3053\u3068\u3092\u5b9f\u611f\u3059\u308b\u306b\u306f\u30011\u5e74\u524d\u3092\u898b\u308b\u306e\u304c\u3044\u3061\u3070\u3093\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>2025\u5e748\u67087\u65e5\u3001\u4f1a\u793e\u306f2026\u5e743\u6708\u671f\u306e\u901a\u671f\u7a0e\u5f15\u524d\u5229\u76ca\u30921,020\u5104\u5186\u3068\u4e88\u60f3\u3057\u3066\u3044\u307e\u3057\u305f\u3002<\/strong>\uff08\u305d\u306e\u3068\u304d\u306e\u524d\u63d0\u306f\u92859,505 $\/t\u3001\u91d13,070.1 $\/TOZ\u3001\u70ba\u66ff144.90\u5186\uff09<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u5b9f\u969b\u306e\u7740\u5730\u306f2,556\u5104\u5186\u3002\u4e88\u60f3\u306e2.51\u500d\u3067\u3057\u305f\u3002<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4fa1\u683c\u304c\u4e0a\u304c\u3063\u305f\u306e\u3067\u3001\u4e88\u60f3\u3082\u4e00\u7dd2\u306b\u4e0a\u304c\u3063\u3066\u3044\u3063\u305f\u306e\u3067\u3059\u3002\u4eca\u56de\u306e\u4e0a\u65b9\u4fee\u6b63\uff082,290\u5104\u5186\u21923,240\u5104\u5186\uff09\u3082\u3001\u540c\u3058\u73fe\u8c61\u306e\u7d9a\u304d\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3057\u305f\u304c\u3063\u3066\u3001<strong>\u9032\u6357\u7387\u3092\u5358\u7d14\u306b\u898b\u3066\u3082\u610f\u5473\u304c\u8584\u3044<\/strong>\u3068\u3044\u3046\u7d50\u8ad6\u306b\u306a\u308a\u307e\u3059\u3002\u5ff5\u306e\u305f\u3081\u8a08\u7b97\u3059\u308b\u3068\u3001<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u4eca\u671f\uff1a1Q\u7a0e\u5f15\u524d1,180\u5104\u5186 \u00f7 \u901a\u671f\u4e88\u60f33,240\u5104\u5186 = <strong>36.4%<\/strong><\/li>\n\n\n\n<li>\u524d\u5e74\u540c\u671f\uff1a1Q\u7a0e\u5f15\u524d379\u5104\u5186 \u00f7 \u5f53\u6642\u306e\u901a\u671f\u4e88\u60f31,020\u5104\u5186 = <strong>37.2%<\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u307b\u307c\u540c\u3058\u3067\u3059\u3002\u305d\u3057\u3066\u524d\u5e74\u306f\u3001\u305d\u306e\u300c\u9806\u8abf\u306a37%\u300d\u304b\u3089\u901a\u671f\u30672.5\u500d\u306b\u7740\u5730\u3057\u307e\u3057\u305f\u3002<strong>\u3053\u306e\u4f1a\u793e\u306e\u9032\u6357\u7387\u306f\u3001\u901a\u671f\u306e\u7740\u5730\u3092\u5360\u3046\u9053\u5177\u3068\u3057\u3066\u306f\u307b\u3068\u3093\u3069\u6a5f\u80fd\u3057\u307e\u305b\u3093\u3002<\/strong> \u898b\u308b\u3079\u304d\u306a\u306e\u306f\u9032\u6357\u7387\u3067\u306f\u306a\u304f\u3001\u9285\u30fb\u91d1\u30fb\u30cb\u30c3\u30b1\u30eb\u306e\u4fa1\u683c\u3068\u70ba\u66ff\u305d\u306e\u3082\u306e\u3067\u3059\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">9. \u8cc7\u672c\u653f\u7b56\u3068\u682a\u4e3b\u9084\u5143\u2014\u2014\u512a\u5f85\u304c\u306a\u3044\u9298\u67c4\u3067\u898b\u308b\u3079\u304d\u3068\u3053\u308d<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u7b2c1\u7ae0\u3067\u66f8\u3044\u305f\u3068\u304a\u308a\u3001\u4f4f\u53cb\u91d1\u5c5e\u9271\u5c71\u306b\u682a\u4e3b\u512a\u5f85\u5236\u5ea6\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u305d\u306e\u4ee3\u308f\u308a\u3001\u3053\u306e\u4f1a\u793e\u306f\u9084\u5143\u65b9\u91dd\u3092\u6570\u5f0f\u3067\u958b\u793a\u3057\u3066\u304a\u308a\u3001<strong>\u914d\u5f53\u304c\u3044\u304f\u3089\u306b\u306a\u308b\u304b\u3092\u81ea\u5206\u3067\u8a08\u7b97\u3067\u304d\u307e\u3059\u3002<\/strong> \u3053\u3053\u306f\u512a\u5f85\u3088\u308a\u3088\u307b\u3069\u5b9f\u5229\u306e\u3042\u308b\u8a71\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">9-1. \u914d\u5f53\u306e\u57fa\u672c<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u9805\u76ee<\/th><th>\u5185\u5bb9<\/th><\/tr><\/thead><tbody><tr><td>\u914d\u5f53\u56de\u6570<\/td><td>\u5e742\u56de\uff08\u4e2d\u9593\u30fb\u671f\u672b\uff09<\/td><\/tr><tr><td>\u4e2d\u9593\u914d\u5f53\u306e\u57fa\u6e96\u65e5<\/td><td>9\u670830\u65e5<\/td><\/tr><tr><td>\u671f\u672b\u914d\u5f53\u306e\u57fa\u6e96\u65e5<\/td><td>3\u670831\u65e5<\/td><\/tr><tr><td>2026\u5e743\u6708\u671f \u5b9f\u7e3e<\/td><td>\u5e74\u9593228\u5186\uff08\u4e2d\u959365\u5186\uff0b\u671f\u672b163\u5186\uff09<\/td><\/tr><tr><td>2027\u5e743\u6708\u671f \u4e88\u60f3<\/td><td>\u5e74\u9593207\u5186\uff08\u4e2d\u9593103\u5186\uff0b\u671f\u672b104\u5186\uff09<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u5e74\u9593\u914d\u5f53\u306f228\u5186\u304b\u3089207\u5186\u3078\u3001<strong>21\u5186\u306e\u6e1b\u914d\u4e88\u60f3<\/strong>\u3067\u3059\u3002\u305f\u3060\u3057\u4e2d\u9593\u914d\u5f53\u3060\u3051\u3092\u898b\u308b\u306865\u5186\u304b\u3089103\u5186\u3078\u5897\u3048\u3066\u3044\u307e\u3059\u3002\u524d\u671f\u306f\u671f\u672b\u306b\u5927\u304d\u304f\u5bc4\u305b\u305f\u914d\u5f53\uff08163\u5186\uff09\u3060\u3063\u305f\u306e\u3067\u3001\u671f\u3054\u3068\u306e\u5185\u8a33\u304c\u5165\u308c\u66ff\u308f\u3063\u3066\u3044\u308b\u3060\u3051\u3001\u3068\u3044\u3046\u5074\u9762\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u306a\u304a\u3001\u4e2d\u9593\u914d\u5f53\u3092\u53d7\u3051\u53d6\u308b\u306b\u306f9\u670830\u65e5\u6642\u70b9\u3067\u682a\u4e3b\u540d\u7c3f\u306b\u8f09\u3063\u3066\u3044\u308b\u5fc5\u8981\u304c\u3042\u308a\u3001\u305d\u306e\u305f\u3081\u306b\u306f<strong>\u57fa\u6e96\u65e5\u306e2\u55b6\u696d\u65e5\u524d\u307e\u3067\u306b\u8cb7\u3044\u4ed8\u3051\u3092\u6e08\u307e\u305b\u3066\u304a\u304f<\/strong>\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u30022026\u5e74\u306f9\u670828\u65e5\uff08\u6708\uff09\u304c\u6a29\u5229\u4ed8\u6700\u7d42\u65e5\u306b\u306a\u308b\u898b\u8fbc\u307f\u3067\u3059\uff08\u53d6\u5f15\u6240\u306e\u55b6\u696d\u65e5\u306b\u3088\u308a\u5909\u308f\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u305f\u3081\u3001\u5b9f\u969b\u306b\u72d9\u3046\u5834\u5408\u306f\u8a3c\u5238\u4f1a\u793e\u306e\u6848\u5185\u3067\u78ba\u8a8d\u3057\u3066\u304f\u3060\u3055\u3044\uff09\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><strong>\u7528\u8a9e\u30e1\u30e2\uff1a\u6a29\u5229\u4ed8\u6700\u7d42\u65e5<\/strong> \u914d\u5f53\u3084\u682a\u4e3b\u512a\u5f85\u306e\u6a29\u5229\u3092\u5f97\u308b\u305f\u3081\u306b\u3001\u305d\u306e\u65e5\u307e\u3067\u306b\u682a\u3092\u8cb7\u3063\u3066\u304a\u304f\u5fc5\u8981\u304c\u3042\u308b\u65e5\u306e\u3053\u3068\u3067\u3059\u3002\u65e5\u672c\u682a\u306e\u53d7\u3051\u6e21\u3057\u306f\u7d04\u5b9a\u304b\u30892\u55b6\u696d\u65e5\u5f8c\u306a\u306e\u3067\u3001\u57fa\u6e96\u65e5\u5f53\u65e5\u306b\u8cb7\u3063\u3066\u3082\u9593\u306b\u5408\u3044\u307e\u305b\u3093\u3002\u57fa\u6e96\u65e5\u304c9\u670830\u65e5\uff08\u6c34\uff09\u306a\u3089\u30019\u670828\u65e5\uff08\u6708\uff09\u307e\u3067\u306b\u8cb7\u3046\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002\u7fcc9\u670829\u65e5\uff08\u706b\uff09\u306f\u300c\u6a29\u5229\u843d\u3061\u65e5\u300d\u3067\u3001\u7406\u8ad6\u4e0a\u306f\u914d\u5f53\u306e\u5206\u3060\u3051\u682a\u4fa1\u304c\u4e0b\u304c\u308a\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\">9-2. \u914d\u5f53\u4e88\u60f3207\u5186\u306f\u3001\u3069\u3053\u304b\u3089\u51fa\u3066\u304d\u305f\u6570\u5b57\u304b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f4f\u53cb\u91d1\u5c5e\u9271\u5c71\u306f2026\u5e742\u67089\u65e5\u306b\u682a\u4e3b\u9084\u5143\u65b9\u91dd\u3092\u5909\u66f4\u3057\u3001\u6b21\u306e\u3088\u3046\u306b\u3057\u3066\u3044\u307e\u3059\uff082026\u5e743\u6708\u671f\u306e\u914d\u5f53\u304b\u3089\u9069\u7528\uff09\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">\u5270\u4f59\u91d1\u306e\u914d\u5f53\u306f\u3001\u539f\u5247\u9023\u7d50\u914d\u5f53\u6027\u541135%\u4ee5\u4e0a\u3068\u3057\u3001\u9023\u7d50\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u304c\u5f53\u793e\u306e\u9069\u6b63\u6c34\u6e96\u3068\u3059\u308b55%\u3092\u4e0a\u56de\u308b\u9593\u306f\u3001\u4e0b\u9650\u6307\u6a19\u3092DOE3.5%\u3068\u3059\u308b\u3002 DOE \uff1d \u5e74\u9593\u914d\u5f53\u7dcf\u984d \u00f7 \u682a\u4e3b\u8cc7\u672c\uff08\u524d\u671f\u672b\u306e\u300c\u89aa\u4f1a\u793e\u306e\u6240\u6709\u8005\u306b\u5e30\u5c5e\u3059\u308b\u6301\u5206\u300d\u304b\u3089\u300c\u305d\u306e\u4ed6\u306e\u8cc7\u672c\u306e\u69cb\u6210\u8981\u7d20\u300d\u3092\u9664\u5916\u3057\u305f\u984d\uff09<\/p>\n<\/blockquote>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><strong>\u7528\u8a9e\u30e1\u30e2\uff1aDOE\uff08\u682a\u4e3b\u8cc7\u672c\u914d\u5f53\u7387\uff09<\/strong> \u914d\u5f53\u306e\u7dcf\u984d\u3092\u3001\u682a\u4e3b\u8cc7\u672c\u3067\u5272\u3063\u305f\u6bd4\u7387\u3067\u3059\u3002\u914d\u5f53\u6027\u5411\uff08\u5229\u76ca\u306b\u5bfe\u3059\u308b\u6bd4\u7387\uff09\u304c\u5229\u76ca\u306e\u5909\u52d5\u306b\u632f\u308a\u56de\u3055\u308c\u308b\u306e\u306b\u5bfe\u3057\u3001DOE\u306f\u5206\u6bcd\u304c\u682a\u4e3b\u8cc7\u672c\u306a\u306e\u3067\u6bd4\u8f03\u7684\u5b89\u5b9a\u3057\u307e\u3059\u3002\u696d\u7e3e\u306e\u632f\u308c\u304c\u5927\u304d\u3044\u4f1a\u793e\u304c\u3001\u914d\u5f53\u306e\u4e0b\u9650\u3092\u4fdd\u8a3c\u3059\u308b\u305f\u3081\u306b\u4f7f\u3046\u3053\u3068\u304c\u591a\u3044\u6307\u6a19\u3067\u3059\u3002\u4f4f\u53cb\u91d1\u5c5e\u9271\u5c71\u306f2023\u5e74\u5ea6\u306bDOE1.5%\u3092\u5c0e\u5165\u3057\u3001\u4e2d\u8a0827\u30672.5%\u306b\u5f15\u304d\u4e0a\u3052\u3001\u3055\u3089\u306b2026\u5e742\u6708\u306b3.5%\u3078\u5f15\u304d\u4e0a\u3052\u307e\u3057\u305f\u3002<\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">\u3067\u306f\u3001\u3053\u306e\u5f0f\u306b\u6570\u5b57\u3092\u5165\u308c\u3066\u307f\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u682a\u4e3b\u8cc7\u672c<\/strong> \uff1d 2026\u5e743\u6708\u672b\u306e\u89aa\u4f1a\u793e\u306e\u6240\u6709\u8005\u306b\u5e30\u5c5e\u3059\u308b\u6301\u5206 20,748\u5104\u5186 \u2212 \u305d\u306e\u4ed6\u306e\u8cc7\u672c\u306e\u69cb\u6210\u8981\u7d20 4,820\u5104\u5186 \uff1d <strong>15,928\u5104\u5186<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>DOE3.5%\u306e\u914d\u5f53\u7dcf\u984d<\/strong> \uff1d 15,928\u5104\u5186 \u00d7 3.5% \uff1d <strong>557\u5104\u5186<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>1\u682a\u3042\u305f\u308a<\/strong> \uff1d 557\u5104\u5186 \u00f7 \u7d042\u51046,922\u4e07\u682a\uff081Q\u306e\u671f\u4e2d\u5e73\u5747\u682a\u5f0f\u6570\uff09\uff1d <strong>\u7d04207\u5186<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u4e88\u60f3\u914d\u5f53\u306f207\u5186\u3067\u3059\u3002\u3074\u3063\u305f\u308a\u4e00\u81f4\u3057\u307e\u3059\u3002<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3064\u307e\u308a\u4eca\u671f\u306e\u914d\u5f53\u4e88\u60f3207\u5186\u306f\u3001\u696d\u7e3e\u304b\u3089\u51fa\u3066\u304d\u305f\u6570\u5b57\u3067\u306f\u306a\u304f\u3001<strong>DOE\u306e\u4e0b\u9650\u304b\u3089\u6a5f\u68b0\u7684\u306b\u9006\u7b97\u3055\u308c\u305f\u6570\u5b57<\/strong>\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u3053\u306b\u3001\u3053\u306e\u6c7a\u7b97\u306e\u898b\u3069\u3053\u308d\u304c\u3072\u3068\u3064\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f1a\u793e\u306e\u65b9\u91dd\u306f\u300c\u539f\u5247\u9023\u7d50\u914d\u5f53\u6027\u541135%\u4ee5\u4e0a\u300d\u3067\u3042\u308a\u3001DOE3.5%\u306f\u3042\u304f\u307e\u3067<strong>\u4e0b\u9650<\/strong>\u3067\u3059\u30025\u670811\u65e5\u306e\u6642\u70b9\u3067\u306f\u3001\u901a\u671f\u4e88\u60f3EPS\u304c518.08\u5186\u3060\u3063\u305f\u306e\u3067\u3001<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>207\u5186 \u00f7 518.08\u5186 = <strong>\u914d\u5f53\u6027\u541140.0%<\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u3068\u306a\u308a\u3001\u65b9\u91dd\u306e35%\u3092\u4e0a\u56de\u3063\u3066\u3044\u307e\u3057\u305f\u3002\u3068\u3053\u308d\u304c8\u670810\u65e5\u306e\u4e0a\u65b9\u4fee\u6b63\u3067EPS\u4e88\u60f3\u304c803.95\u5186\u306b\u306a\u3063\u305f\u7d50\u679c\u3001<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>207\u5186 \u00f7 803.95\u5186 = <strong>\u914d\u5f53\u6027\u541125.7%<\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u65b9\u91dd\u306b\u66f8\u304b\u308c\u305f35%\u3092\u3001\u5927\u304d\u304f\u4e0b\u56de\u308b\u6c34\u6e96\u306b\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/strong> \u4f1a\u793e\u306f\u4e0a\u65b9\u4fee\u6b63\u3068\u540c\u6642\u306b\u300c\u914d\u5f53\u4e88\u60f3\u304b\u3089\u306e\u4fee\u6b63\u306e\u6709\u7121\uff1a\u7121\u300d\u3068\u8a18\u8f09\u3057\u3066\u304a\u308a\u3001\u914d\u5f53\u306f\u636e\u3048\u7f6e\u304b\u308c\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4eee\u306b\u65b9\u91dd\u3069\u304a\u308a\u914d\u5f53\u6027\u541135%\u3092\u9069\u7528\u3059\u308b\u3068\u3001803.95\u5186 \u00d7 35% \uff1d <strong>281\u5186<\/strong>\u3002\u73fe\u5728\u306e\u4e88\u60f3207\u5186\u3068\u306e\u5dee\u306f74\u5186\u3067\u3059\u3002\u4e2d\u9593\u914d\u5f53103\u5186\u306f\u3059\u3067\u306b\u4e88\u60f3\u3068\u3057\u3066\u7f6e\u304b\u308c\u3066\u3044\u308b\u306e\u3067\u3001\u8abf\u6574\u3059\u308b\u3068\u3059\u308c\u3070\u671f\u672b\u914d\u5f53\uff08\u73fe\u5728\u306e\u4e88\u60f3104\u5186\uff09\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3082\u3061\u308d\u3093\u3001\u3053\u308c\u306f\u300c\u5897\u914d\u3055\u308c\u308b\u300d\u3068\u3044\u3046\u8a71\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u4f1a\u793e\u306f\u300c\u539f\u5247\u300d\u3068\u66f8\u3044\u3066\u304a\u308a\u3001\u901a\u671f\u306e\u7740\u5730\u3092\u898b\u3066\u304b\u3089\u5224\u65ad\u3059\u308b\u53ef\u80fd\u6027\u3082\u3001\u6295\u8cc7\u6a5f\u4f1a\u3092\u512a\u5148\u3059\u308b\u53ef\u80fd\u6027\u3082\u3042\u308a\u307e\u3059\u3002<strong>\u305f\u3060\u3001\u65b9\u91dd\u3068\u73fe\u5728\u306e\u4e88\u60f3\u306e\u9593\u306b74\u5186\u3076\u3093\u306e\u9699\u9593\u304c\u7a7a\u3044\u3066\u3044\u308b\u3053\u3068\u306f\u4e8b\u5b9f\u3067\u3001\u3053\u3053\u306f\u4eca\u671f\u3092\u901a\u3058\u3066\u898b\u3066\u304a\u304f\u4fa1\u5024\u304c\u3042\u308b\u8ad6\u70b9<\/strong>\u3060\u3068\u500b\u4eba\u7684\u306b\u306f\u8003\u3048\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">9-3. \u682a\u5f0f\u4f75\u5408\u304c\u3042\u308b\u306e\u3067\u3001\u6614\u306e\u914d\u5f53\u3068\u76f4\u63a5\u6bd4\u3079\u3089\u308c\u306a\u3044<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u914d\u5f53\u306e\u63a8\u79fb\u3092\u8abf\u3079\u308b\u3068\u304d\u306e\u6ce8\u610f\u70b9\u3067\u3059\u3002\u4f4f\u53cb\u91d1\u5c5e\u9271\u5c71\u306f<strong>2017\u5e7410\u67081\u65e5\u4ed8\u3067\u3001\u666e\u901a\u682a\u5f0f2\u682a\u30921\u682a\u306b\u4f75\u5408<\/strong>\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u305d\u306e\u305f\u3081\u3001\u305d\u308c\u4ee5\u524d\u306e\u914d\u5f53\u91d1\u984d\u3092\u305d\u306e\u307e\u307e\u4e26\u3079\u308b\u3068\u3001\u5b9f\u614b\u3088\u308a\u4f4e\u304f\u898b\u3048\u307e\u3059\u3002\u4f1a\u793e\u306f\u300c\u682a\u5f0f\u4f75\u5408\u5f8c\u306e\u57fa\u6e96\u3067\u63db\u7b97\u3057\u305f2018\u5e743\u6708\u671f\u306e1\u682a\u5f53\u305f\u308a\u5e74\u9593\u914d\u5f53\u91d1\u306f100\u5186\u300d\u3068\u6ce8\u8a18\u3057\u3066\u3044\u307e\u3059\u300210\u5e74\u30c1\u30e3\u30fc\u30c8\u3084\u9577\u671f\u306e\u914d\u5f53\u63a8\u79fb\u3092\u898b\u308b\u3068\u304d\u306f\u3001\u3053\u306e\u6bb5\u5dee\u3092\u8e0f\u307e\u3048\u308b\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u5e74\u5ea6<\/th><th>\u5e74\u9593\u914d\u5f53<\/th><\/tr><\/thead><tbody><tr><td>2018\u5e743\u6708\u671f<\/td><td>100\u5186\uff08\u4f75\u5408\u63db\u7b97\uff09<\/td><\/tr><tr><td>2019\u5e743\u6708\u671f<\/td><td>73\u5186<\/td><\/tr><tr><td>2020\u5e743\u6708\u671f<\/td><td>78\u5186<\/td><\/tr><tr><td>2021\u5e743\u6708\u671f<\/td><td>121\u5186<\/td><\/tr><tr><td>2022\u5e743\u6708\u671f<\/td><td>301\u5186<\/td><\/tr><tr><td>2023\u5e743\u6708\u671f<\/td><td>205\u5186<\/td><\/tr><tr><td>2024\u5e743\u6708\u671f<\/td><td>98\u5186<\/td><\/tr><tr><td>2025\u5e743\u6708\u671f<\/td><td>104\u5186<\/td><\/tr><tr><td>2026\u5e743\u6708\u671f<\/td><td>228\u5186<\/td><\/tr><tr><td>2027\u5e743\u6708\u671f\uff08\u4e88\u60f3\uff09<\/td><td>207\u5186<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">301\u5186\u306e\u5e74\u3082\u3042\u308c\u307073\u5186\u306e\u5e74\u3082\u3042\u308a\u307e\u3059\u3002<strong>\u3053\u306e\u4f1a\u793e\u306e\u914d\u5f53\u306f\u3001\u5b89\u5b9a\u914d\u5f53\u3067\u306f\u306a\u304f\u696d\u7e3e\u9023\u52d5\u3067\u3059\u3002<\/strong> DOE\u306e\u4e0b\u9650\u304c\u5f15\u304d\u4e0a\u3052\u3089\u308c\u305f\u3053\u3068\u3067\u632f\u308c\u5e45\u306f\u591a\u5c11\u6291\u3048\u3089\u308c\u307e\u3059\u304c\u3001\u6027\u8cea\u304c\u5909\u308f\u3063\u305f\u308f\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">9-4. \u682a\u6570\u304c\u6e1b\u3063\u3066\u3044\u308b\u3053\u3068\u304c\u3001EPS\u3092\u62bc\u3057\u4e0a\u3052\u3066\u3044\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u5229\u76ca\u3068EPS\u306e\u4f38\u3073\u65b9\u304c\u5fae\u5999\u306b\u9055\u3046\u3053\u3068\u306b\u6c17\u3065\u3044\u305f\u3067\u3057\u3087\u3046\u304b\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u89aa\u4f1a\u793e\u682a\u4e3b\u306b\u5e30\u5c5e\u3059\u308b\u56db\u534a\u671f\u5229\u76ca\uff1a274\u5104\u5186 \u2192 879\u5104\u5186\uff08<strong>3.205\u500d<\/strong>\uff09<\/li>\n\n\n\n<li>EPS\uff1a100.27\u5186 \u2192 326.62\u5186\uff08<strong>3.257\u500d<\/strong>\uff09<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">EPS\u306e\u307b\u3046\u304c\u4f38\u3073\u3066\u3044\u307e\u3059\u3002\u7406\u7531\u306f\u682a\u6570\u304c\u6e1b\u3063\u3066\u3044\u308b\u304b\u3089\u3067\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u671f\u4e2d\u5e73\u5747\u682a\u5f0f\u6570\uff1a273,637,413\u682a \u2192 269,224,512\u682a\uff08<strong>0.98387\u500d<\/strong>\uff09<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u691c\u7b97\u3057\u3066\u307f\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u5229\u76ca\u306e\u4f38\u3073 \u00f7 \u682a\u6570\u306e\u4f38\u3073 \uff1d 3.205 \u00f7 0.98387 \uff1d 3.257 \uff1d EPS\u306e\u4f38\u3073<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e00\u81f4\u3057\u307e\u3057\u305f\u30021.6%\u306e\u682a\u6570\u6e1b\u304c\u3001EPS\u30921.6%\u3076\u3093\u4f59\u5206\u306b\u62bc\u3057\u4e0a\u3052\u3066\u3044\u308b\u308f\u3051\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u682a\u6570\u304c\u6e1b\u3063\u305f\u539f\u56e0\u306f\u81ea\u5df1\u682a\u5f0f\u306e\u53d6\u5f97\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">9-5. \u81ea\u5df1\u682a\u5f0f\u306e\u53d6\u5f97\u3068\u6d88\u5374<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">2026\u5e745\u670811\u65e5\u306e\u53d6\u7de0\u5f79\u4f1a\u3067\u6c7a\u8b70\u3055\u308c\u305f\u5185\u5bb9\u3067\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u9805\u76ee<\/th><th>\u5185\u5bb9<\/th><\/tr><\/thead><tbody><tr><td>\u53d6\u5f97\u4e0a\u9650<\/td><td>4,000,000\u682a\uff08\u767a\u884c\u6e08\u682a\u5f0f\u7dcf\u6570\uff08\u81ea\u5df1\u682a\u5f0f\u9664\u304f\uff09\u306e1.48%\uff09<\/td><\/tr><tr><td>\u53d6\u5f97\u7dcf\u984d\u4e0a\u9650<\/td><td>200\u5104\u5186<\/td><\/tr><tr><td>\u53d6\u5f97\u671f\u9593<\/td><td>2026\u5e745\u670812\u65e5\u301c2026\u5e747\u670831\u65e5<\/td><\/tr><tr><td>\u53d6\u5f97\u65b9\u6cd5<\/td><td>\u53d6\u5f15\u4e00\u4efb\u5951\u7d04\u306b\u57fa\u3065\u304f\u5e02\u5834\u8cb7\u4ed8\u3051<\/td><\/tr><tr><td>\u6d88\u5374<\/td><td>\u53d6\u5f97\u3057\u305f\u5168\u682a\u5f0f\u3092<strong>2026\u5e749\u670830\u65e5\u306b\u6d88\u5374\u4e88\u5b9a<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">4\u301c6\u6708\u306e3\u304b\u6708\u9593\u3067\u3001\u81ea\u5df1\u682a\u5f0f\u306f20,264,282\u682a\u304b\u308922,326,154\u682a\u3078\u3001<strong>2,061,872\u682a<\/strong>\u5897\u3048\u307e\u3057\u305f\u3002\u30ad\u30e3\u30c3\u30b7\u30e5\u30fb\u30d5\u30ed\u30fc\u8a08\u7b97\u66f8\u306e\u81ea\u5df1\u682a\u5f0f\u306e\u53d6\u5f97\u306b\u3088\u308b\u652f\u51fa\u306f<strong>200\u51047\u767e\u4e07\u5186<\/strong>\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u5272\u308a\u7b97\u3092\u3059\u308b\u3068\u3001\u5e73\u5747\u53d6\u5f97\u5358\u4fa1\u306f<strong>\u7d049,703\u5186<\/strong>\uff08\u7b46\u8005\u306e\u6982\u7b97\uff09\u3002\u682a\u6570\u306e\u4e0a\u96504,000,000\u682a\u306b\u5bfe\u3057\u3066\u306f\u7d0452%\u3067\u3059\u304c\u3001<strong>\u91d1\u984d\u306e\u4e0a\u9650200\u5104\u5186\u306f\u307b\u307c\u4f7f\u3044\u5207\u3063\u305f<\/strong>\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002\u682a\u4fa1\u304c\u4e0a\u304c\u3063\u305f\u3076\u3093\u3001\u8cb7\u3048\u308b\u682a\u6570\u304c\u6e1b\u3063\u305f\u3068\u3044\u3046\u69cb\u56f3\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u6d88\u5374\u304c\u5b9f\u884c\u3055\u308c\u308c\u3070\u3001\u767a\u884c\u6e08\u682a\u5f0f\u7dcf\u6570\u306f290,814,015\u682a\u304b\u3089\u7d04288,752,143\u682a\u3078\u6e1b\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><strong>\u7528\u8a9e\u30e1\u30e2\uff1a\u81ea\u5df1\u682a\u5f0f\u306e\u300c\u53d6\u5f97\u300d\u3068\u300c\u6d88\u5374\u300d\u306e\u9055\u3044<\/strong> \u53d6\u5f97\u306f\u3001\u4f1a\u793e\u304c\u5e02\u5834\u304b\u3089\u81ea\u793e\u682a\u3092\u8cb7\u3063\u3066\u6301\u3063\u3066\u3044\u308b\u72b6\u614b\u3067\u3059\u3002\u3053\u306e\u682a\u306b\u306f\u8b70\u6c7a\u6a29\u3082\u914d\u5f53\u3082\u3042\u308a\u307e\u305b\u3093\u304c\u3001\u5c06\u6765\u307e\u305f\u58f2\u308a\u51fa\u3059\uff08\u51e6\u5206\u3059\u308b\uff09\u3053\u3068\u3082\u53ef\u80fd\u306a\u306e\u3067\u3001\u5e02\u5834\u306b\u306f\u300c\u3044\u3064\u304b\u623b\u3063\u3066\u304f\u308b\u304b\u3082\u3057\u308c\u306a\u3044\u682a\u300d\u3068\u3057\u3066\u610f\u8b58\u3055\u308c\u307e\u3059\u3002\u6d88\u5374\u306f\u3001\u305d\u306e\u682a\u3092\u6cd5\u7684\u306b\u6d88\u3057\u3066\u3057\u307e\u3046\u3053\u3068\u3067\u3059\u3002\u6d88\u5374\u307e\u3067\u884c\u3046\u3068\u767a\u884c\u6e08\u682a\u5f0f\u7dcf\u6570\u305d\u306e\u3082\u306e\u304c\u6e1b\u308b\u305f\u3081\u30011\u682a\u3042\u305f\u308a\u306e\u4fa1\u5024\u306e\u5e0c\u8584\u5316\u304c\u8d77\u304d\u306a\u304f\u306a\u308a\u307e\u3059\u3002\u4f4f\u53cb\u91d1\u5c5e\u9271\u5c71\u306f\u53d6\u5f97\u3068\u6d88\u5374\u3092\u30bb\u30c3\u30c8\u3067\u6c7a\u8b70\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">\u306a\u304a\u3001\u682a\u6570\u3092\u5897\u3084\u3059\u65b9\u5411\u306e\u52d5\u304d\u3082\u3042\u308a\u307e\u3059\u30022026\u5e747\u670824\u65e5\u306b\u300c\u8b72\u6e21\u5236\u9650\u4ed8\u682a\u5f0f\u5831\u916c\u3068\u3057\u3066\u306e\u81ea\u5df1\u682a\u5f0f\u306e\u51e6\u5206\u306e\u5272\u5f53\u5b8c\u4e86\u300d\u304c\u958b\u793a\u3055\u308c\u3066\u304a\u308a\u3001\u5f79\u54e1\u5831\u916c\u3068\u3057\u3066\u81ea\u5df1\u682a\u5f0f\u306e\u4e00\u90e8\u304c\u51e6\u5206\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u4e2d\u8a0827\u3067\u5c0e\u5165\u304c\u4e88\u544a\u3055\u308c\u3066\u3044\u305f\u682a\u5f0f\u5831\u916c\u5236\u5ea6\u3067\u3059\u3002\u305f\u3060\u3057\u898f\u6a21\u306f\u5c0f\u3055\u304f\u30011Q\u306e\u6301\u5206\u5909\u52d5\u8a08\u7b97\u66f8\u4e0a\u306e\u682a\u5f0f\u5831\u916c\u53d6\u5f15\u306f9\u767e\u4e07\u5186\u306b\u3068\u3069\u307e\u308a\u307e\u3059\u3002EPS\u3078\u306e\u5f71\u97ff\u306f\u7121\u8996\u3067\u304d\u308b\u6c34\u6e96\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">9-6. \u4fdd\u6709\u682a\u5f0f\u306e\u542b\u307f\u76ca\u3068\u3001\u305d\u3053\u306b\u3042\u308b\u4f1a\u8a08\u306e\u30ab\u30e9\u30af\u30ea<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">2026\u5e746\u6708\u672b\u6642\u70b9\u306e\u975e\u6d41\u52d5\u8cc7\u7523\u306e\u3046\u3061\u300c\u305d\u306e\u4ed6\u306e\u91d1\u878d\u8cc7\u7523\u300d\u306f<strong>9,075\u5104\u5186<\/strong>\u3067\u3059\u3002\u7dcf\u8cc7\u75233\u51466,272\u5104\u5186\u306e**25%**\u306b\u3042\u305f\u308a\u307e\u3059\u3002\u3053\u3053\u306b\u306f\u653f\u7b56\u4fdd\u6709\u682a\u5f0f\u3084\u3001\u6d77\u5916\u306e\u51fa\u8cc7\u5148\u3078\u306e\u9577\u671f\u8cb8\u4ed8\u91d1\u306a\u3069\u304c\u542b\u307e\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u3046\u3061\u3001\u682a\u5f0f\u306e\u542b\u307f\u76ca\u304c\u3069\u308c\u304f\u3089\u3044\u3042\u308b\u304b\u306f\u3001\u8cc7\u672c\u306e\u90e8\u306e\u300c\u305d\u306e\u4ed6\u306e\u5305\u62ec\u5229\u76ca\u3092\u901a\u3058\u3066\u516c\u6b63\u4fa1\u5024\u3067\u6e2c\u5b9a\u3059\u308b\u91d1\u878d\u8cc7\u7523\u300d\u304b\u3089\u63a8\u3057\u91cf\u308c\u307e\u3059\u30022026\u5e746\u6708\u672b\u3067<strong>1,857\u5104\u5186<\/strong>\uff08\u7a0e\u52b9\u679c\u8003\u616e\u5f8c\u306e\u7d2f\u8a08\u8a55\u4fa1\u5dee\u984d\uff09\u3002\u524d\u671f\u672b\u306f1,886\u5104\u5186\u3067\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f1a\u793e\u306f\u4e2d\u8a0827\u3067\u3001<strong>\u653f\u7b56\u4fdd\u6709\u682a\u5f0f\u3092\u9023\u7d50\u7d14\u8cc7\u7523\u6bd4\u738710%\u4ee5\u4e0b\u306b\u7e2e\u6e1b\u3059\u308b<\/strong>\u65b9\u91dd\u3092\u63b2\u3052\u3066\u3044\u307e\u3059\u30022025\u5e743\u6708\u672b\u6642\u70b9\u3067\u306f\u3001PT Vale Indonesia\uff08PTVI\uff09\u682a\u3092\u9664\u3044\u30667%\u3001\u542b\u3081\u306613%\u3067\u3057\u305f\u3002\u4eca\u671f1Q\u306b\u3082\u3001\u6295\u8cc7\u6709\u4fa1\u8a3c\u5238\u306e\u58f2\u5374\u306b\u3088\u308b\u53ce\u5165\u304c<strong>81\u510468\u767e\u4e07\u5186<\/strong>\u767a\u751f\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u3053\u3067\u3001\u521d\u3081\u3066\u898b\u308b\u3068\u6df7\u4e71\u3057\u3084\u3059\u3044\u4f1a\u8a08\u51e6\u7406\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u3053\u306e\u58f2\u5374\u76ca\u306f\u3001\u7a0e\u5f15\u524d\u5229\u76ca1,180\u5104\u5186\u306e\u306a\u304b\u306b\u5165\u3063\u3066\u3044\u307e\u305b\u3093\u3002<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">IFRS\u3067\u306f\u3001\u653f\u7b56\u4fdd\u6709\u682a\u5f0f\u306e\u3088\u3046\u306a\u682a\u5f0f\u3092\u300c\u305d\u306e\u4ed6\u306e\u5305\u62ec\u5229\u76ca\u3092\u901a\u3058\u3066\u516c\u6b63\u4fa1\u5024\u3067\u6e2c\u5b9a\u3059\u308b\u91d1\u878d\u8cc7\u7523\u300d\u306b\u6307\u5b9a\u3067\u304d\u307e\u3059\u3002\u6307\u5b9a\u3057\u305f\u682a\u5f0f\u306f\u3001\u5024\u4e0a\u304c\u308a\u3057\u3066\u3082\u640d\u76ca\u8a08\u7b97\u66f8\u306b\u306f\u51fa\u305a\u3001\u8cc7\u672c\u306e\u90e8\u306b\u7a4d\u307f\u4e0a\u304c\u308a\u307e\u3059\u3002\u305d\u3057\u3066<strong>\u58f2\u5374\u3057\u305f\u3068\u304d\u3082\u3001\u305d\u306e\u5229\u76ca\u306f\u640d\u76ca\u8a08\u7b97\u66f8\u3092\u901a\u308a\u307e\u305b\u3093\u3002<\/strong> \u8cc7\u672c\u306e\u90e8\u304b\u3089\u5229\u76ca\u5270\u4f59\u91d1\u3078\u76f4\u63a5\u632f\u308a\u66ff\u3048\u3089\u308c\u308b\u3060\u3051\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u5b9f\u969b\u30011Q\u306e\u6301\u5206\u5909\u52d5\u8a08\u7b97\u66f8\u306b\u306f\u300c\u5229\u76ca\u5270\u4f59\u91d1\u3078\u306e\u632f\u66ff \u25b343\u510464\u767e\u4e07\u5186\u300d\u3068\u3044\u3046\u884c\u304c\u3042\u308a\u307e\u3059\u3002\u3053\u308c\u304c\u58f2\u5374\u3057\u305f\u682a\u5f0f\u306e\u7d2f\u7a4d\u8a55\u4fa1\u5dee\u984d\u306e\u632f\u66ff\u306b\u3042\u305f\u308a\u307e\u3059\u3002\u524d\u671f\u901a\u671f\u3067\u306f320\u51043\u767e\u4e07\u5186\u304c\u540c\u69d8\u306b\u632f\u308a\u66ff\u3048\u3089\u308c\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u308c\u306f\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u91cd\u8981\u3067\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u653f\u7b56\u4fdd\u6709\u682a\u3092\u58f2\u3063\u3066\u3082\u3001\u5229\u76ca\u306f\u5897\u3048\u306a\u3044<\/strong>\uff08\u65e5\u672c\u57fa\u6e96\u306a\u3089\u7279\u5225\u5229\u76ca\u306b\u51fa\u308b\u3082\u306e\u304c\u3001IFRS\u3067\u306f\u51fa\u306a\u3044\uff09<\/li>\n\n\n\n<li><strong>\u3057\u304b\u3057\u73fe\u91d1\u306f\u5165\u308b<\/strong>\u3002\u305d\u306e\u73fe\u91d1\u306f\u3001\u81ea\u5df1\u682a\u5f0f\u306e\u53d6\u5f97\u3084\u914d\u5f53\u3001\u6295\u8cc7\u306e\u539f\u8cc7\u306b\u306a\u308a\u3046\u308b<\/li>\n\n\n\n<li>\u3057\u305f\u304c\u3063\u3066\u3001<strong>\u300c\u653f\u7b56\u4fdd\u6709\u682a\u306e\u58f2\u5374\u304c\u9032\u3093\u3067\u3044\u308b\u304b\u300d\u306f\u3001\u640d\u76ca\u8a08\u7b97\u66f8\u3067\u306f\u306a\u304f\u30ad\u30e3\u30c3\u30b7\u30e5\u30fb\u30d5\u30ed\u30fc\u8a08\u7b97\u66f8\u3068\u8cc7\u672c\u306e\u90e8\u3092\u898b\u306a\u3044\u3068\u5206\u304b\u3089\u306a\u3044<\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u300c\u653f\u7b56\u4fdd\u6709\u682a\u306e\u7e2e\u6e1b\u304c\u9032\u3093\u3067\u3044\u308b\uff0f\u3044\u306a\u3044\u300d\u3068\u3044\u3046\u8a71\u984c\u306f\u500b\u4eba\u6295\u8cc7\u5bb6\u306e\u9593\u3067\u3082\u3088\u304f\u51fa\u307e\u3059\u304c\u3001\u5642\u3067\u306f\u306a\u304f\u3001\u6295\u8cc7\u6d3b\u52d5\u306b\u3088\u308b\u30ad\u30e3\u30c3\u30b7\u30e5\u30fb\u30d5\u30ed\u30fc\u306e\u300c\u6295\u8cc7\u6709\u4fa1\u8a3c\u5238\u306e\u58f2\u5374\u306b\u3088\u308b\u53ce\u5165\u300d\u3068\u3001\u8cc7\u672c\u306e\u90e8\u306e\u6b8b\u9ad8\u3067\u8ffd\u3044\u304b\u3051\u308b\u306e\u304c\u78ba\u5b9f\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">9-7. \u307e\u3068\u3081\u308b\u3068<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u512a\u5f85\u304c\u306a\u3044\u4ee3\u308f\u308a\u306b\u3001\u3053\u306e\u4f1a\u793e\u306e\u9084\u5143\u306f\u6b21\u306e3\u672c\u7acb\u3066\u3067\u3059\u3002<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>\u914d\u5f53<\/strong>\uff1aDOE3.5%\u304c\u4e0b\u9650\u3001\u539f\u5247\u914d\u5f53\u6027\u541135%\u4ee5\u4e0a\u3002\u4eca\u671f\u4e88\u60f3207\u5186\u306f\u4e0b\u9650\u304b\u3089\u9006\u7b97\u3055\u308c\u305f\u6570\u5b57\u3067\u3001\u4e0a\u65b9\u4fee\u6b63\u5f8c\u306e\u5229\u76ca\u306b\u5bfe\u3057\u3066\u306f25.7%\u3068\u65b9\u91dd\u3092\u4e0b\u56de\u3063\u3066\u3044\u308b<\/li>\n\n\n\n<li><strong>\u81ea\u5df1\u682a\u5f0f\u306e\u53d6\u5f97\u3068\u6d88\u5374<\/strong>\uff1a2026\u5e745\u6708\u301c7\u6708\u306b200\u5104\u5186\u3092\u5b9f\u65bd\u6e08\u307f\u30029\u670830\u65e5\u306b\u6d88\u5374\u4e88\u5b9a\u3002\u4e2d\u8a0827\u3067\u306f\u300c\u6a5f\u52d5\u7684\u306b\u5b9f\u65bd\u300d\u3068\u660e\u8a18<\/li>\n\n\n\n<li><strong>\u653f\u7b56\u4fdd\u6709\u682a\u5f0f\u306e\u58f2\u5374<\/strong>\uff1a\u9023\u7d50\u7d14\u8cc7\u7523\u6bd4\u738710%\u4ee5\u4e0b\u3078\u3002\u58f2\u5374\u3057\u3066\u3082\u5229\u76ca\u306b\u306f\u51fa\u306a\u3044\u304c\u3001\u73fe\u91d1\u306f\u5165\u308b<\/li>\n<\/ol>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">10. \u682a\u4fa1\u306e\u898b\u65b9<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u3053\u304b\u3089\u306f\u89e3\u91c8\u306e\u8a71\u306b\u306a\u308b\u306e\u3067\u3001\u5f37\u6c17\u30fb\u5f31\u6c17\u306e\u4e21\u65b9\u3092\u4e26\u3079\u307e\u3059\u3002\u5224\u65ad\u306f\u8aad\u8005\u306e\u307f\u306a\u3055\u3093\u306b\u304a\u4efb\u305b\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u307e\u305a\u4e8b\u5b9f\u95a2\u4fc2\u304b\u3089\u3002<\/strong>\uff08\u682a\u4fa1\u306f\u5831\u9053\u30d9\u30fc\u30b9\u306e\u6570\u5024\u3067\u3042\u308a\u3001\u8a18\u4e8b\u5316\u6642\u70b9\u3067\u78ba\u8a8d\u304c\u5fc5\u8981\u3067\u3059\uff09<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>2026\u5e748\u670810\u65e5\uff08\u6c7a\u7b97\u767a\u8868\u5f53\u65e5\uff09\u306e\u7d42\u5024\uff1a10,065\u5186\uff08\u524d\u65e5\u6bd4+1,066\u5186\u3001+11.85%\uff09<\/li>\n\n\n\n<li>\u6c7a\u7b97\u767a\u8868\u524d\u65e5\uff088\u67087\u65e5\uff09\u306e\u7d42\u5024\uff1a9,088\u5186<\/li>\n\n\n\n<li>8\u670820\u65e5\u306b\u306f\u4e00\u664210,500\u5186\u524d\u5f8c\uff08\u524d\u65e5\u6bd4+9%\u8d85\uff09\u307e\u3067\u4e0a\u6607<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">8\u670810\u65e5\u7d42\u502410,065\u5186\u3067\u8a08\u7b97\u3059\u308b\u3068\uff08\u81ea\u5df1\u682a\u5f0f\u3092\u9664\u304f\u767a\u884c\u6e08\u682a\u5f0f\u6570268,487,861\u682a\u30d9\u30fc\u30b9\u3001\u7b46\u8005\u306e\u6982\u7b97\uff09\u3001<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u6307\u6a19<\/th><th>\u6982\u7b97\u5024<\/th><\/tr><\/thead><tbody><tr><td>\u6642\u4fa1\u7dcf\u984d<\/td><td>\u7d042\u51467,000\u5104\u5186<\/td><\/tr><tr><td>PER\uff08\u4fee\u6b63\u5f8c\u4e88\u60f3EPS 803.95\u5186\uff09<\/td><td>\u7d0412.5\u500d<\/td><\/tr><tr><td>PER\uff08\u4fee\u6b63\u524d\u4e88\u60f3EPS 518.08\u5186\uff09<\/td><td>\u7d0419.4\u500d<\/td><\/tr><tr><td>PBR\uff081\u682a\u5f53\u305f\u308a\u89aa\u4f1a\u793e\u6240\u6709\u8005\u5e30\u5c5e\u6301\u52067,933\u5186\uff09<\/td><td>\u7d041.27\u500d<\/td><\/tr><tr><td>\u914d\u5f53\u5229\u56de\u308a\uff08\u5e74207\u5186\uff09<\/td><td>\u7d042.06%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">10-1. \u5f37\u6c17\u306b\u898b\u308b\u6750\u6599<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u2460 \u4fa1\u683c\u304c\u9ad8\u6b62\u307e\u308a\u3059\u308c\u3070\u3001\u4e88\u60f3\u306f\u3055\u3089\u306b\u4e0a\u632f\u308c\u308b\u4f59\u5730\u304c\u3042\u308b<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7b2c8\u7ae0\u3067\u898b\u305f\u3068\u304a\u308a\u3001\u3053\u306e\u4f1a\u793e\u306e\u901a\u671f\u4e88\u60f3\u306f\u8db3\u5143\u306e\u4fa1\u683c\u3092\u7f6e\u3044\u305f\u6570\u5b57\u3067\u3059\u30021Q\u306e\u9285\u306e\u5e73\u5747\u4fa1\u683c\u306f13,324\u30c9\u30eb\u3067\u3057\u305f\u304c\u3001\u901a\u671f\u524d\u63d0\u306f12,706\u30c9\u30eb\u30012Q\u4ee5\u964d\u306f12,500\u30c9\u30eb\u3068\u4fdd\u5b88\u7684\u306b\u7f6e\u304b\u308c\u3066\u3044\u307e\u3059\u3002\u91d1\u30821Q\u5b9f\u7e3e4,516\u30c9\u30eb\u306b\u5bfe\u30572Q\u4ee5\u964d\u306f4,100\u30c9\u30eb\u524d\u63d0\u3067\u3059\u3002<strong>\u8db3\u5143\u306e\u4fa1\u683c\u304c\u3053\u306e\u524d\u63d0\u3092\u4e0a\u56de\u3063\u3066\u63a8\u79fb\u3059\u308c\u3070\u3001\u56db\u534a\u671f\u3054\u3068\u306b\u4e0a\u65b9\u4fee\u6b63\u304c\u7d9a\u304f\u5f62\u306b\u306a\u308a\u307e\u3059\u3002<\/strong> 1\u5e74\u524d\u304c\u307e\u3055\u306b\u305d\u306e\u30d1\u30bf\u30fc\u30f3\u3067\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u2461 \u5927\u578b\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u306e\u8ca2\u732e\u304c\u59cb\u307e\u3063\u305f\u3070\u304b\u308a<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u30b1\u30d6\u30e9\u30c0\u30fb\u30d6\u30e9\u30f3\u30ab\u9285\u9271\u5c71\u3068\u30b3\u30c6\u91d1\u9271\u5c71\u306f\u3001\u7acb\u3061\u4e0a\u3052\u9045\u5ef6\u3068\u30b3\u30b9\u30c8\u8d85\u904e\u3067\u9577\u304f\u300c\u91cd\u8377\u300d\u3067\u3057\u305f\u304c\u3001\u4eca\u671f1Q\u3067\u3088\u3046\u3084\u304f\u8cc7\u6e90\u30bb\u30b0\u30e1\u30f3\u30c8\u306e\u5229\u76ca\u6210\u9577\u306b\u5bc4\u4e0e\u3057\u3066\u3044\u307e\u3059\u3002\u4e2d\u8a0827\u3067\u306f\u6a29\u76ca\u5206\u9285\u751f\u7523\u91cf\u30922027\u5e74\u5ea6\u306b25\u4e07\u30c8\u30f3\uff082024\u5e74\u5ea623\u4e07\u30c8\u30f3\uff09\u3078\u5f15\u304d\u4e0a\u3052\u308b\u8a08\u753b\u3067\u3001\u91cf\u306e\u9762\u3067\u306e\u4e0a\u7a4d\u307f\u304c\u6b8b\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u2462 \u9084\u5143\u65b9\u91dd\u3068\u73fe\u5728\u306e\u914d\u5f53\u4e88\u60f3\u306e\u9593\u306b\u9699\u9593\u304c\u3042\u308b<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u65b9\u91dd\u306f\u300c\u539f\u5247\u9023\u7d50\u914d\u5f53\u6027\u541135%\u4ee5\u4e0a\u300d\u3067\u3059\u304c\u3001\u4e0a\u65b9\u4fee\u6b63\u5f8c\u306eEPS\u306b\u5bfe\u3059\u308b\u73fe\u5728\u306e\u4e88\u60f3\u914d\u5f53\u306e\u6027\u5411\u306f25.7%\u3067\u3059\u3002\u65b9\u91dd\u306b\u6cbf\u3063\u3066\u8abf\u6574\u3055\u308c\u308b\u53ef\u80fd\u6027\u306f\u6b8b\u3063\u3066\u3044\u307e\u3059\u3002\u52a0\u3048\u3066\u3001\u81ea\u5df1\u682a\u5f0f\u53d6\u5f97\u306f\u300c\u6a5f\u52d5\u7684\u306b\u5b9f\u65bd\u300d\u3068\u3055\u308c\u3066\u304a\u308a\u3001200\u5104\u5186\u306e\u67a0\u306f7\u6708\u306b\u4f7f\u3044\u5207\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u2463 \u6750\u6599\u4e8b\u696d\u306bAI\u306e\u8ffd\u3044\u98a8<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u96fb\u5b50\u90e8\u54c1\u5411\u3051\u90e8\u6750\u306f\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\u5411\u3051\u304c\u597d\u8abf\u3067\u3001\u6750\u6599\u30bb\u30b0\u30e1\u30f3\u30c8\u306e\u5229\u76ca\u306f\u524d\u5e74\u540c\u671f\u6bd4+263.9%\u3067\u3057\u305f\u3002EV\u306e\u6210\u9577\u920d\u5316\u3068\u3044\u3046\u9577\u5e74\u306e\u9006\u98a8\u3068\u306f\u5225\u306e\u67f1\u304c\u7acb\u3061\u4e0a\u304c\u308a\u3064\u3064\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u2464 \u8ca1\u52d9\u306b\u4f59\u88d5\u304c\u3042\u308b<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u81ea\u5df1\u8cc7\u672c\u6bd4\u738758.7%\u3002\u6e1b\u640d\u3067\u5229\u76ca\u304c10\u5206\u306e1\u306b\u306a\u3063\u305f2025\u5e743\u6708\u671f\u3067\u3082\u8ca1\u52d9\u306f\u5d29\u308c\u307e\u305b\u3093\u3067\u3057\u305f\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">10-2. \u5f31\u6c17\u306b\u898b\u308b\u6750\u6599<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u2460 \u5229\u76ca\u5897\u52a0\u306e\u5927\u534a\u304c\u4fa1\u683c\u3067\u3042\u308a\u3001\u540c\u3058\u7406\u7531\u3067\u6d88\u3048\u308b<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7b2c4\u7ae0\u306e\u5206\u89e3\u304c\u793a\u3059\u3068\u304a\u308a\u3001\u4e2d\u8a08\u76ee\u6a19\u3068\u306e\u5dee1,840\u5104\u5186\u306e\u307b\u307c\u5168\u984d\u304c\u4fa1\u683c\u30fb\u70ba\u66ff\u306e\u524d\u63d0\u5dee\u3067\u8aac\u660e\u3067\u304d\u3066\u3057\u307e\u3044\u307e\u3059\u3002\u611f\u5fdc\u5ea6\u8868\u306f\u4e0b\u65b9\u5411\u306b\u3082\u540c\u3058\u3088\u3046\u306b\u52b9\u304d\u307e\u3059\u3002\u4eee\u306b\u9285\u304c1\u30c8\u30f3\u3042\u305f\u308a2,000\u30c9\u30eb\u4e0b\u304c\u308c\u3070\u7a0e\u5f15\u524d\u5229\u76ca\u306f\u6982\u7b97\u3067640\u5104\u5186\u6e1b\u308a\u3001\u70ba\u66ff\u304c10\u5186\u5186\u9ad8\u306b\u632f\u308c\u308c\u3070\u3055\u3089\u306b160\u5104\u5186\u6e1b\u308b\u8a08\u7b97\u3067\u3059\u3002<strong>\u4e21\u65b9\u304c\u540c\u6642\u306b\u8d77\u3053\u308c\u3070800\u5104\u5186\u3067\u3001\u4eca\u671f\u4e88\u60f3\u306e4\u5206\u306e1\u304c\u6d88\u3048\u307e\u3059\u3002<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u2461 \u751f\u7523\u91cf\u306f\u524d\u5e74\u5272\u308c\u3057\u3066\u3044\u308b<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u9285\u25b32.6%\u3001\u91d1\u25b318.8%\u3001\u96fb\u6c17\u30cb\u30c3\u30b1\u30eb\u25b38.2%\u3001\u30d5\u30a7\u30ed\u30cb\u30c3\u30b1\u30eb\u25b319.0%\u3002\u7b2c3\u7ae0\u3067\u898b\u305f\u3068\u304a\u308a\u3001\u3053\u306e\u56db\u534a\u671f\u306b\u5897\u3048\u305f\u306e\u306f\u5024\u6bb5\u3067\u3042\u3063\u3066\u91cf\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u2462 \u4f1a\u793e\u81ea\u8eab\u304c\u300c\u8cc7\u672c\u30b3\u30b9\u30c8\u306b\u5c4a\u304b\u306a\u3044\u300d\u3068\u66f8\u3044\u3066\u3044\u308b<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e2d\u8a0827\u306e\u8cc7\u6599\u306b\u306f\u30012027\u5e74\u5ea6\u306eROCE\u30fbROE\u306f\u8cc7\u672c\u30b3\u30b9\u30c8\uff08\u682a\u4e3b\u8cc7\u672c\u30b3\u30b9\u30c88\u301c9%\u7a0b\u5ea6\uff09\u306b\u5c4a\u304b\u306a\u3044\u898b\u901a\u3057\u3068\u660e\u8a18\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u4eca\u671f\u306f\u4fa1\u683c\u306e\u8ffd\u3044\u98a8\u3067ROE\u4e88\u60f3\u304c\u4e0a\u304c\u3063\u3066\u3044\u307e\u3059\u304c\u3001\u4f1a\u793e\u306e\u60f3\u5b9a\u3059\u308b\u5e73\u5e38\u6642\u306e\u7a3c\u3050\u529b\u306f\u3001\u307e\u3060\u8cc7\u672c\u30b3\u30b9\u30c8\u3092\u4e0b\u56de\u308b\u6c34\u6e96\u306b\u3042\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u2463 \u6709\u5229\u5b50\u8ca0\u50b5\u304c\u5897\u3048\u7d9a\u3051\u3066\u3044\u308b<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u6c7a\u7b97\u77ed\u4fe1\u306b\u8f09\u3063\u3066\u3044\u308b5\u671f\u5206\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30fb\u30d5\u30ed\u30fc\u95a2\u9023\u6307\u6a19\u3067\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u6307\u6a19<\/th><th>2022\u5e743\u6708\u671f<\/th><th>2023\u5e743\u6708\u671f<\/th><th>2024\u5e743\u6708\u671f<\/th><th>2025\u5e743\u6708\u671f<\/th><th>2026\u5e743\u6708\u671f<\/th><\/tr><\/thead><tbody><tr><td>\u30ad\u30e3\u30c3\u30b7\u30e5\u30fb\u30d5\u30ed\u30fc\u5bfe\u6709\u5229\u5b50\u8ca0\u50b5\u6bd4\u7387<\/td><td>2.0\u500d<\/td><td>3.9\u500d<\/td><td>2.6\u500d<\/td><td>3.9\u500d<\/td><td><strong>6.7\u500d<\/strong><\/td><\/tr><tr><td>\u30a4\u30f3\u30bf\u30ec\u30b9\u30c8\u30fb\u30ab\u30d0\u30ec\u30c3\u30b8\u30fb\u30ec\u30b7\u30aa<\/td><td>65.9\u500d<\/td><td>20.3\u500d<\/td><td>11.3\u500d<\/td><td>8.5\u500d<\/td><td><strong>6.4\u500d<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u6709\u5229\u5b50\u8ca0\u50b5\u3092\u55b6\u696dCF\u3067\u8fd4\u3059\u306e\u306b\u4f55\u5e74\u304b\u304b\u308b\u304b\u3092\u793a\u3059\u6bd4\u7387\u304c\u30014\u5e74\u524d\u306e2.0\u500d\u304b\u30896.7\u500d\u3078\u60aa\u5316\u3057\u3066\u3044\u307e\u3059\u3002\u5229\u6255\u3044\u3092\u55b6\u696dCF\u3067\u8cc4\u3048\u308b\u500d\u7387\u308265.9\u500d\u304b\u30896.4\u500d\u3078\u4f4e\u4e0b\u3057\u307e\u3057\u305f\u30022026\u5e746\u6708\u672b\u306e\u6709\u5229\u5b50\u8ca0\u50b5\u306f7,147\u5104\u5186\u3067\u30013\u304b\u6708\u3067509\u5104\u5186\u5897\u3048\u3066\u3044\u307e\u3059\u3002<strong>\u8ca1\u52d9\u304c\u5371\u306a\u3044\u3068\u3044\u3046\u6c34\u6e96\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u304c\u3001\u65b9\u5411\u306f\u4e00\u8cab\u3057\u3066\u4e00\u3064\u306e\u5411\u304d\u3067\u3059\u3002<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u2464 \u6a29\u76ca\u304b\u3089\u306f\u7c21\u5358\u306b\u964d\u308a\u3089\u308c\u306a\u3044<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7b2c1\u7ae0\u306e\u898b\u65b9\u306e\u88cf\u5074\u3067\u3059\u3002\u539f\u6599\u304c\u63a1\u308c\u308b\u5834\u6240\u306e\u6301\u3061\u5206\u3092\u6301\u3064\u3068\u3044\u3046\u3053\u3068\u306f\u3001\u4fa1\u683c\u304c\u4e0b\u304c\u3063\u305f\u304b\u3089\u3068\u3044\u3063\u3066\u4ed5\u5165\u308c\u3092\u6b62\u3081\u308b\u3088\u3046\u306b\u64a4\u9000\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u306a\u3044\u3001\u3068\u3044\u3046\u3053\u3068\u3067\u3082\u3042\u308a\u307e\u3059\u3002\u9271\u5c71\u306f\u7a3c\u50cd\u3092\u6b62\u3081\u3066\u3082\u7dad\u6301\u8cbb\u304c\u304b\u304b\u308a\u3001\u51fa\u8cc7\u5148\u3078\u306e\u9577\u671f\u8cb8\u4ed8\u3082\u6b8b\u308a\u307e\u3059\u3002\u4e2d\u8a0827\u306e\u6295\u8cc7\u8a08\u753b\u306f3\u5e74\u30674,370\u5104\u5186\u3001\u3046\u3061\u7dad\u6301\u66f4\u65b0\u7b49\u304c2,410\u5104\u5186\u3092\u5360\u3081\u307e\u3059\u3002<strong>\u4fa1\u683c\u304c\u4e0b\u304c\u3063\u3066\u3082\u3001\u6295\u8cc7\u306f\u7d9a\u304d\u307e\u3059\u3002<\/strong> 2025\u5e743\u6708\u671f\u306b1,127\u5104\u5186\u306e\u6e1b\u640d\u304c\u51fa\u305f\u306e\u306f\u3001\u3053\u306e\u69cb\u9020\u306e\u5e30\u7d50\u3067\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u2465 \u88fd\u932c\u306e\u9006\u98a8\u306f\u69cb\u9020\u7684<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8cb7\u9271\u6761\u4ef6\uff08TC\/RC\uff09\u306f\u6b74\u53f2\u7684\u4f4e\u6c34\u6e96\u3067\u3001\u4f1a\u793e\u306f\u56de\u5fa9\u30922030\u5e74\u4ee5\u964d\u3068\u898b\u3066\u3044\u307e\u3059\u3002\u4eca\u671f\u306e\u88fd\u932c\u30bb\u30b0\u30e1\u30f3\u30c8\u306e\u9ed2\u5b57\u8ee2\u63db\u306f\u3001\u5728\u5eab\u8a55\u4fa1\u640d\u76ca\u3068\u5186\u5b89\u306b\u3088\u308b\u3068\u3053\u308d\u304c\u5927\u304d\u304f\u3001TC\/RC\u304c\u6539\u5584\u3057\u305f\u304b\u3089\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u2466 \u96fb\u6c60\u6750\u6599\u306e\u7acb\u3066\u76f4\u3057\u306f\u4e2d\u8a0830\u4ee5\u964d<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f1a\u793e\u306f\u96fb\u6c60\u6750\u6599\u4e8b\u696d\u306e\u69cb\u9020\u6539\u9769\u52b9\u679c\u3092\u300c\u4e2d\u8a0830\u4ee5\u964d\u3092\u898b\u8fbc\u3080\u300d\u3068\u3057\u3066\u3044\u307e\u3059\u30022025\u5e743\u6708\u671f\u306b573\u5104\u5186\u306e\u6e1b\u640d\u3092\u8a08\u4e0a\u3057\u305f\u4e8b\u696d\u306e\u518d\u5efa\u306f\u3001\u307e\u3060\u5165\u53e3\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u2467 \u682a\u4fa1\u306f\u3059\u3067\u306b\u5927\u304d\u304f\u53cd\u5fdc\u3057\u3066\u3044\u308b<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">8\u6708\u4e0a\u65ec\u304b\u3089\u6c7a\u7b97\u767a\u8868\u3092\u631f\u3093\u3067\u3001\u682a\u4fa1\u306f8,563\u5186\uff088\u67085\u65e5\uff09\u219210,065\u5186\uff088\u670810\u65e5\uff09\u219210,500\u5186\u524d\u5f8c\uff088\u670820\u65e5\uff09\u3068\u5927\u304d\u304f\u4e0a\u6607\u3057\u3066\u3044\u307e\u3059\u3002\u4e0a\u65b9\u4fee\u6b63\u306e\u5185\u5bb9\u306f\u4e00\u5b9a\u7a0b\u5ea6\u7e54\u308a\u8fbc\u307e\u308c\u305f\u3042\u3068\u306e\u6c34\u6e96\u3067\u3042\u308b\u3001\u3068\u3044\u3046\u898b\u65b9\u3082\u6210\u308a\u7acb\u3061\u307e\u3059\u3002PBR\u306f\u7d041.27\u500d\u3067\u3059\u3002\u5916\u90e8\u306e\u682a\u5f0f\u30c7\u30fc\u30bf\u30d9\u30fc\u30b9\u306b\u3088\u308c\u3070\u3001\u3053\u306e\u9298\u67c4\u306e2010\u5e74\u4ee5\u964d\u306ePBR\u306f\u304a\u304a\u3080\u306d0.31\u301c1.73\u500d\u306e\u30ec\u30f3\u30b8\u3067\u63a8\u79fb\u3057\u3066\u304d\u305f\u3068\u3055\u308c\u3001\u73fe\u5728\u306f\u305d\u306e\u4e2d\u3067\u306f\u4e0a\u306e\u307b\u3046\u306b\u4f4d\u7f6e\u3057\u307e\u3059\uff08\u4f1a\u793e\u306e\u4e00\u6b21\u8cc7\u6599\u3067\u78ba\u8a8d\u3067\u304d\u308b\u6570\u5024\u3067\u306f\u306a\u3044\u305f\u3081\u3001\u53c2\u8003\u5024\u3068\u3057\u3066\u6271\u3063\u3066\u304f\u3060\u3055\u3044\uff09\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">10-3. \u7d50\u5c40\u3001\u4f55\u3092\u898b\u308c\u3070\u3044\u3044\u306e\u304b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u5f37\u6c17\u30fb\u5f31\u6c17\u306e\u3069\u3061\u3089\u306e\u6750\u6599\u3082\u3001\u7a81\u304d\u8a70\u3081\u308b\u3068\u540c\u3058\u4e00\u70b9\u306b\u96c6\u7d04\u3055\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u3053\u306e\u4f1a\u793e\u306e\u696d\u7e3e\u306f\u3001\u9285\u30fb\u91d1\u30fb\u30cb\u30c3\u30b1\u30eb\u306e\u4fa1\u683c\u3068\u70ba\u66ff\u3067\u30018\u5272\u65b9\u6c7a\u307e\u308a\u307e\u3059\u3002<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f1a\u793e\u304c\u4fa1\u683c\u611f\u5fdc\u5ea6\u306e\u8868\u3092\u516c\u958b\u3057\u3066\u3044\u308b\u306e\u306f\u3001\u305d\u308c\u3092\u96a0\u3057\u3066\u3044\u306a\u3044\u3068\u3044\u3046\u3053\u3068\u3067\u3082\u3042\u308a\u307e\u3059\u3002\u500b\u5225\u4f01\u696d\u306e\u5206\u6790\u3068\u3057\u3066\u3053\u306e\u9298\u67c4\u3092\u8ffd\u3046\u306a\u3089\u3001\u6c7a\u7b97\u8cc7\u6599\u3092\u8aad\u307f\u8fbc\u3080\u3088\u308a\u3001\u5546\u54c1\u5e02\u6cc1\u3068\u70ba\u66ff\u3092\u898b\u3066\u3044\u308b\u307b\u3046\u304c\u5f53\u305f\u308b\u2014\u2014\u3068\u3044\u3046\u3001\u5c11\u3057\u8eab\u3082\u84cb\u3082\u306a\u3044\u7d50\u8ad6\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u9006\u306b\u8a00\u3048\u3070\u3001<strong>\u300c\u9285\u3068\u91d1\u306e\u4fa1\u683c\u304c\u3053\u306e\u5148\u3069\u3046\u306a\u308b\u3068\u8003\u3048\u308b\u304b\u300d\u306b\u81ea\u5206\u306a\u308a\u306e\u898b\u65b9\u3092\u6301\u3066\u306a\u3044\u9650\u308a\u3001\u3053\u306e\u9298\u67c4\u306b\u3064\u3044\u3066\u5224\u65ad\u6750\u6599\u306f\u63c3\u308f\u306a\u3044<\/strong>\u3001\u3068\u3044\u3046\u3053\u3068\u3067\u3082\u3042\u308a\u307e\u3059\u3002\u6c7a\u7b97\u66f8\u306f\u305d\u306e\u5224\u65ad\u3092\u52a9\u3051\u3066\u306f\u304f\u308c\u307e\u3059\u304c\u3001\u4ee3\u308f\u308a\u306b\u306f\u306a\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">11. \u4eca\u5f8c\u306e\u30ab\u30ec\u30f3\u30c0\u30fc\u3068\u3001\u898b\u308b\u3079\u304dKPI<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">11-1. \u30ab\u30ec\u30f3\u30c0\u30fc<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u6642\u671f<\/th><th>\u5185\u5bb9<\/th><\/tr><\/thead><tbody><tr><td>2026\u5e749\u670828\u65e5\uff08\u6708\uff09<\/td><td>\u4e2d\u9593\u914d\u5f53\u306e\u6a29\u5229\u4ed8\u6700\u7d42\u65e5\uff08\u898b\u8fbc\u307f\u30fb\u8981\u78ba\u8a8d\uff09<\/td><\/tr><tr><td>2026\u5e749\u670830\u65e5\uff08\u6c34\uff09<\/td><td>\u4e2d\u9593\u914d\u5f53\u306e\u57fa\u6e96\u65e5\uff0f\u81ea\u5df1\u682a\u5f0f2,061,872\u682a\u306e\u6d88\u5374\u4e88\u5b9a\u65e5<\/td><\/tr><tr><td>2026\u5e7411\u6708\u4e0a\u65ec<\/td><td>\u4e0a\u534a\u671f\uff084\u301c9\u6708\uff09\u6c7a\u7b97\u767a\u8868\uff08\u524d\u5e74\u306f11\u670810\u65e5\uff09<\/td><\/tr><tr><td>2027\u5e742\u6708\u4e0a\u65ec<\/td><td>\u7b2c3\u56db\u534a\u671f\u6c7a\u7b97\u767a\u8868\uff08\u524d\u5e74\u306f2\u67089\u65e5\uff09<\/td><\/tr><tr><td>2027\u5e745\u6708\u4e2d\u65ec<\/td><td>\u901a\u671f\u6c7a\u7b97\u767a\u8868\u30fb\u671f\u672b\u914d\u5f53\u306e\u78ba\u5b9a\uff08\u524d\u5e74\u306f5\u670811\u65e5\uff09<\/td><\/tr><tr><td>2028\u5e743\u6708\u671f<\/td><td>\u4e2d\u671f\u7d4c\u55b6\u8a08\u753b2027\u306e\u6700\u7d42\u5e74\u5ea6<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p 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