{"id":229,"date":"2026-09-04T02:19:03","date_gmt":"2026-09-03T17:19:03","guid":{"rendered":"https:\/\/sonokane.net\/?p=229"},"modified":"2026-09-04T02:19:05","modified_gmt":"2026-09-03T17:19:05","slug":"%e3%80%902026%e5%b9%b49%e6%9c%88%e7%99%ba%e8%a1%a8%e3%83%bb%e7%ac%ac2%e5%9b%9b%e5%8d%8a%e6%9c%9f%e6%b1%ba%e7%ae%97%ef%bc%885%e3%80%9c7%e6%9c%88%e6%9c%9f%ef%bc%89%e3%80%91%e3%83%87%e3%83%ab%e3%83%bb","status":"publish","type":"post","link":"https:\/\/sonokane.net\/?p=229","title":{"rendered":"\u30102026\u5e749\u6708\u767a\u8868\u30fb\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\uff085\u301c7\u6708\u671f\uff09\u3011\u30c7\u30eb\u30fb\u30c6\u30af\u30ce\u30ed\u30b8\u30fc\u30ba\uff08NYSE: DELL\uff09\u2015\u2015\u58f2\u4e0a58%\u5897\u30fbAI\u53d7\u6ce8\u6b8b950\u5104\u30c9\u30eb\u306a\u306e\u306b\u3001\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f\u306a\u305c\u6e1b\u3063\u305f\u306e\u304b\uff1f"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">\u672c\u8a18\u4e8b\u306f2026\u5e749\u67083\u65e5\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<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>\u30c7\u30eb\u304c\u300cPC\u306e\u4f1a\u793e\u300d\u304b\u3089\u300cAI\u30b5\u30fc\u30d0\u30fc\u306e\u4f1a\u793e\u300d\u306b\u5909\u308f\u3063\u305f\u4eca\u3001\u3069\u3053\u3067\u5132\u3051\u3066\u3044\u308b\u306e\u304b\uff08\u4e8b\u696d\u69cb\u9020\u306e1\u679a\u8868\uff09<\/li>\n\n\n\n<li>\u58f2\u4e0a58%\u5897\u30fb\u7d14\u5229\u76ca3.6\u500d\u3068\u3044\u3046\u6d3e\u624b\u306a\u6570\u5b57\u306e\u88cf\u3067\u3001\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u304c\u524d\u5e74\u6bd413%\u6e1b\u3063\u305f\u7406\u7531<\/li>\n\n\n\n<li>\u4f1a\u793e\u304c\u5f37\u8abf\u3059\u308b\u300c\u8abf\u6574\u5f8c\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc81\u5104\u30c9\u30eb\u300d\u306e\u3046\u3061\u30018\u5272\u304c\u4f55\u3067\u3067\u304d\u3066\u3044\u308b\u304b<\/li>\n\n\n\n<li>AI\u30b5\u30fc\u30d0\u30fc\u53d7\u6ce8\u6b8b950\u5104\u30c9\u30eb\u3092\u3001\u53d7\u6ce8\u9ad8\u30fb\u58f2\u4e0a\u9ad8\u304b\u3089\u81ea\u5206\u3067\u7a4d\u307f\u4e0a\u3052\u3066\u78ba\u304b\u3081\u308b\u65b9\u6cd5<\/li>\n\n\n\n<li>\u901a\u671f\u58f2\u4e0a\u4e88\u60f3\u304c\u534a\u5e74\u30671,400\u5104\u30c9\u30eb\u21921,920\u5104\u30c9\u30eb\u3078\u30013\u56de\u5f15\u304d\u4e0a\u3052\u3089\u308c\u305f\u4e2d\u8eab\u306e\u5206\u89e3<\/li>\n\n\n\n<li>\u682a\u4e3b\u8cc7\u672c\u304c\u30de\u30a4\u30ca\u30b9\uff08\u50b5\u52d9\u8d85\u904e\uff09\u306a\u306e\u306b\u682a\u4e3b\u9084\u5143\u304c\u904e\u53bb\u6700\u9ad8\u3001\u3068\u3044\u3046\u72b6\u614b\u306e\u8aad\u307f\u65b9<\/li>\n\n\n\n<li>\u5f37\u6c17\u30fb\u5f31\u6c17\u305d\u308c\u305e\u308c\u306e\u6750\u6599\u3068\u3001\u6b21\u306e\u6c7a\u7b97\u307e\u3067\u306b\u898b\u308b\u3079\u304d\u6570\u5b57<\/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. \u524d\u63d0\u77e5\u8b58\uff1a\u30c7\u30eb\u306f\u3069\u3093\u306a\u4f1a\u793e\u304b<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">1-1. \u300c\u4f1a\u793e\u306eIT\u6a5f\u5668\u3092\u3001\u8cb7\u3063\u3066\u30fb\u636e\u3048\u4ed8\u3051\u3066\u30fb\u52d5\u304b\u3057\u7d9a\u3051\u308b\u4ed5\u4e8b\u300d\u3092\u4e38\u3054\u3068\u5f15\u304d\u53d7\u3051\u308b\u4f1a\u793e<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30c7\u30eb\u306e\u4e8b\u696d\u3092\u4e00\u8a00\u3067\u8a00\u3046\u306a\u3089\u3001<strong>\u6614\u306a\u3089\u4f01\u696d\u306e\u60c5\u5831\u30b7\u30b9\u30c6\u30e0\u90e8\u9580\u304c\u81ea\u524d\u3067\u3084\u3063\u3066\u3044\u305f\u300c\u30b5\u30fc\u30d0\u30fc\u3084PC\u3092\u9078\u3093\u3067\u8cb7\u3044\u3001\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\u306b\u636e\u3048\u4ed8\u3051\u3001\u58ca\u308c\u305f\u3089\u76f4\u3057\u3001\u53e4\u304f\u306a\u3063\u305f\u3089\u5165\u308c\u66ff\u3048\u308b\u300d\u3068\u3044\u3046\u4ed5\u4e8b\u3092\u3001\u8a2d\u8a08\u30fb\u7d44\u307f\u7acb\u3066\u30fb\u8a2d\u7f6e\u30fb\u4fdd\u5b88\u3001\u305d\u3057\u3066\u652f\u6255\u3044\u306e\u7acb\u3066\u66ff\u3048\u307e\u3067\u4e38\u3054\u3068\u5f15\u304d\u53d7\u3051\u308b\u4f1a\u793e<\/strong>\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u30aa\u30d5\u30a3\u30b9\u3067\u50cd\u3044\u305f\u3053\u3068\u304c\u3042\u308b\u65b9\u306a\u3089\u3001\u60c5\u30b7\u30b9\u306e\u62c5\u5f53\u8005\u304c\u65b0\u3057\u3044\u30ce\u30fc\u30c8PC\u3092\u4f55\u5341\u53f0\u3082\u7bb1\u304b\u3089\u51fa\u3057\u3066\u8a2d\u5b9a\u3057\u3066\u3044\u308b\u5149\u666f\u3084\u3001\u30b5\u30fc\u30d0\u30fc\u5ba4\u3067\u53e4\u3044\u6a5f\u68b0\u3092\u5f15\u304d\u629c\u3044\u3066\u65b0\u3057\u3044\u30e9\u30c3\u30af\u3092\u636e\u3048\u4ed8\u3051\u3066\u3044\u308b\u5149\u666f\u3092\u898b\u305f\u3053\u3068\u304c\u3042\u308b\u304b\u3082\u3057\u308c\u307e\u305b\u3093\u3002\u30c7\u30eb\u306f\u305d\u306e\u300c\u6a5f\u68b0\u3092\u7528\u610f\u3057\u3066\u3001\u7f6e\u3044\u3066\u3001\u9762\u5012\u3092\u898b\u308b\u300d\u5de5\u7a0b\u3092\u3001\u81ea\u793e\u306e\u5de5\u5834\u30fb\u7269\u6d41\u30fb\u4fdd\u5b88\u7db2\u30fb\u91d1\u878d\u5b50\u4f1a\u793e\uff08Dell Financial Services\uff09\u3067\u4e00\u624b\u306b\u5f15\u304d\u53d7\u3051\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u4f8b\u3048\u3092\u899a\u3048\u3066\u304a\u304f\u3068\u3001\u3053\u306e\u6c7a\u7b97\u306e\u8aad\u307f\u65b9\u304c\u5909\u308f\u308a\u307e\u3059\u3002<strong>\u4e38\u3054\u3068\u5f15\u304d\u53d7\u3051\u308b\u3068\u3044\u3046\u3053\u3068\u306f\u3001\u300c\u5f15\u304d\u53d7\u3051\u305f\u5206\u3060\u3051\u3001\u90e8\u54c1\u5728\u5eab\u30fb\u58f2\u639b\u91d1\u30fb\u9867\u5ba2\u3078\u306e\u7acb\u3066\u66ff\u3048\u8cc7\u91d1\u304c\u30c7\u30eb\u306e\u8cb8\u501f\u5bfe\u7167\u8868\u306b\u8f09\u308b\u300d\u3068\u3044\u3046\u3053\u3068<\/strong>\u3060\u304b\u3089\u3067\u3059\u3002\u58f2\u4e0a\u304c\u4f38\u3073\u308b\u307b\u3069\u8cb8\u501f\u5bfe\u7167\u8868\u304c\u81a8\u3089\u3080\u69cb\u9020\u304c\u3001\u4eca\u56de\u306e\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u6e1b\u5c11\u306e\u80cc\u666f\u306b\u3042\u308a\u307e\u3059\uff083\u7ae0\u3067\u6271\u3044\u307e\u3059\uff09\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1-2. \u4e8b\u696d\u69cb\u9020\u306e1\u679a\u8868\uff08\u7b2c2\u56db\u534a\u671f\u30fb2026\u5e745\u301c7\u6708\u671f\uff09<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u90e8\u9580<\/th><th>\u4e2d\u8eab<\/th><th>\u58f2\u4e0a\uff08\u5104\u30c9\u30eb\uff09<\/th><th>\u524d\u5e74\u6bd4<\/th><th>\u55b6\u696d\u5229\u76ca\uff08\u5104\u30c9\u30eb\uff09<\/th><th>\u5229\u76ca\u7387<\/th><th>\u5168\u793e\u5229\u76ca\u306b\u5360\u3081\u308b\u5272\u5408<\/th><\/tr><\/thead><tbody><tr><td>ISG\uff08\u30a4\u30f3\u30d5\u30e9\uff09<\/td><td>AI\u30b5\u30fc\u30d0\u30fc<\/td><td>164.0<\/td><td>+100%<\/td><td>\u2015<\/td><td>\u2015<\/td><td>\u2015<\/td><\/tr><tr><td>ISG<\/td><td>\u5f93\u6765\u578b\u30b5\u30fc\u30d0\u30fc\u30fb\u30cd\u30c3\u30c8\u30ef\u30fc\u30af<\/td><td>105.3<\/td><td>+122%<\/td><td>\u2015<\/td><td>\u2015<\/td><td>\u2015<\/td><\/tr><tr><td>ISG<\/td><td>\u30b9\u30c8\u30ec\u30fc\u30b8<\/td><td>48.5<\/td><td>+26%<\/td><td>\u2015<\/td><td>\u2015<\/td><td>\u2015<\/td><\/tr><tr><td><strong>ISG \u5408\u8a08<\/strong><\/td><td>\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\u5411\u3051\u6a5f\u5668<\/td><td><strong>317.8<\/strong><\/td><td><strong>+89%<\/strong><\/td><td><strong>47.8<\/strong><\/td><td><strong>15.0%<\/strong><\/td><td><strong>81%<\/strong><\/td><\/tr><tr><td>CSG\uff08\u30af\u30e9\u30a4\u30a2\u30f3\u30c8\uff09<\/td><td>\u6cd5\u4eba\u5411\u3051PC<\/td><td>131.9<\/td><td>+22%<\/td><td>\u2015<\/td><td>\u2015<\/td><td>\u2015<\/td><\/tr><tr><td>CSG<\/td><td>\u500b\u4eba\u5411\u3051PC<\/td><td>18.4<\/td><td>+7%<\/td><td>\u2015<\/td><td>\u2015<\/td><td>\u2015<\/td><\/tr><tr><td><strong>CSG \u5408\u8a08<\/strong><\/td><td>PC\u30fb\u5468\u8fba\u6a5f\u5668<\/td><td><strong>150.3<\/strong><\/td><td><strong>+20%<\/strong><\/td><td><strong>11.4<\/strong><\/td><td><strong>7.6%<\/strong><\/td><td><strong>19%<\/strong><\/td><\/tr><tr><td>\u305d\u306e\u4ed6<\/td><td>VMware\u518d\u8ca9\u306a\u3069<\/td><td>1.6<\/td><td>\u2015<\/td><td>\u2015<\/td><td>\u2015<\/td><td>\u2015<\/td><\/tr><tr><td><strong>\u5168\u793e<\/strong><\/td><td><\/td><td><strong>469.7<\/strong><\/td><td><strong>+58%<\/strong><\/td><td><strong>53.9\uff08GAAP\uff09<\/strong><\/td><td><strong>11.5%<\/strong><\/td><td><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u51fa\u5178\uff1a2026\u5e749\u67081\u65e5\u767a\u8868 \u6c7a\u7b97\u30ea\u30ea\u30fc\u30b9\u3002\u5168\u793e\u55b6\u696d\u5229\u76ca\u306f\u7121\u5f62\u8cc7\u7523\u511f\u5374\u30fb\u682a\u5f0f\u5831\u916c\u30fb\u305d\u306e\u4ed6\u672c\u793e\u8cbb\u7528\u3092\u63a7\u9664\u3057\u305f\u5f8c\u306eGAAP\u30d9\u30fc\u30b9\u3002\u90e8\u9580\u5225\u5408\u8a08\uff0859.2\u5104\u30c9\u30eb\uff09\u3068\u306e\u5dee\u306f\u3053\u308c\u3089\u306e\u672c\u793e\u8cbb\u7528\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u8868\u306e\u30dd\u30a4\u30f3\u30c8\u306f2\u3064\u3067\u3059\u3002<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>\u5229\u76ca\u306e8\u5272\u304cISG\uff08\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\u5411\u3051\uff09\u304b\u3089\u51fa\u3066\u3044\u308b\u3002<\/strong> 1\u5e74\u524d\u306f65%\u3067\u3057\u305f\u3002PC\u306f\u58f2\u4e0a\u3067\u306f\u5168\u4f53\u306e3\u5206\u306e1\u3092\u5360\u3081\u307e\u3059\u304c\u3001\u5229\u76ca\u3067\u306f2\u5272\u3067\u3059\u3002<\/li>\n\n\n\n<li><strong>AI\u30b5\u30fc\u30d0\u30fc\u306f\u58f2\u4e0a\u5168\u4f53\u306e35%\u3002<\/strong> \u305f\u3060\u3057\u58f2\u4e0a\u304c2\u500d\u306b\u306a\u3063\u305f\u306e\u306f\u524d\u5e74\u6bd4\u306e\u8a71\u3067\u3001\u3053\u306e\u5f8c\u898b\u308b\u3088\u3046\u306b\u300c\u53d7\u6ce8\u300d\u306f\u3082\u3063\u3068\u5148\u3092\u8d70\u3063\u3066\u3044\u307e\u3059\u3002<\/li>\n<\/ol>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">\u7528\u8a9e\u30e1\u30e2\uff1aISG\u3068CSG \u30c7\u30eb\u306f\u4e8b\u696d\u30922\u3064\u306b\u5206\u3051\u3066\u958b\u793a\u3057\u3066\u3044\u307e\u3059\u3002ISG\uff08Infrastructure Solutions Group\uff09\u306f\u30b5\u30fc\u30d0\u30fc\u30fb\u30b9\u30c8\u30ec\u30fc\u30b8\u30fb\u30cd\u30c3\u30c8\u30ef\u30fc\u30af\u6a5f\u5668\u306a\u3069\u3001\u4f01\u696d\u306e\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\u306b\u7f6e\u304f\u6a5f\u5668\u306e\u90e8\u9580\u3002CSG\uff08Client Solutions Group\uff09\u306f\u30ce\u30fc\u30c8PC\u30fb\u30c7\u30b9\u30af\u30c8\u30c3\u30d7\u30fb\u30e2\u30cb\u30bf\u30fc\u306a\u3069\u3001\u4eba\u304c\u76f4\u63a5\u4f7f\u3046\u7aef\u672b\u306e\u90e8\u9580\u3067\u3059\u3002\u300cAI\u30b5\u30fc\u30d0\u30fc\u300d\u306fISG\u306e\u4e2d\u306e\u4e00\u533a\u5206\u3067\u3001GPU\uff08\u753b\u50cf\u51e6\u7406\u88c5\u7f6e\uff09\u3092\u5927\u91cf\u306b\u642d\u8f09\u3057\u305fAI\u8a08\u7b97\u7528\u306e\u30b5\u30fc\u30d0\u30fc\u3092\u6307\u3057\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\u3053\u306e\u4f1a\u793e\u304c\u3069\u3046\u3044\u3046\u30da\u30fc\u30b9\u3067\u4f38\u3073\u3066\u304d\u305f\u304b\u3092\u898b\u3066\u304a\u304d\u307e\u3059\u3002\u30c7\u30eb\u306e\u6c7a\u7b97\u671f\u306f<strong>\u6bce\u5e741\u6708\u672b<\/strong>\u3067\u3001\u300c2026\u5e741\u6708\u671f\u300d\u3092\u4f1a\u793e\u306f\u300cFY26\u300d\u3068\u547c\u3073\u307e\u3059\u3002\u4eca\u56de\u306e\u6c7a\u7b97\u306f\u300c2027\u5e741\u6708\u671f\uff08FY27\uff09\u306e\u7b2c2\u56db\u534a\u671f\u300d\u3067\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u6c7a\u7b97\u671f<\/th><th>\u58f2\u4e0a\uff08\u5104\u30c9\u30eb\uff09<\/th><th>\u5897\u53ce\u7387<\/th><th>\u55b6\u696d\u5229\u76ca\uff08\u5104\u30c9\u30eb\uff09<\/th><th>\u55b6\u696d\u5229\u76ca\u7387<\/th><th>\u7d14\u5229\u76ca\uff08\u5104\u30c9\u30eb\uff09<\/th><th>EPS\uff08GAAP\uff09<\/th><th>EPS\uff08\u975eGAAP\uff09<\/th><th>\u55b6\u696dCF\uff08\u5104\u30c9\u30eb\uff09<\/th><th>\u5e74\u9593\u914d\u5f53<\/th><\/tr><\/thead><tbody><tr><td>2024\u5e741\u6708\u671f\uff08FY24\uff09<\/td><td>884<\/td><td>\u25b214%<\/td><td>52<\/td><td>5.9%<\/td><td>32<\/td><td>4.36\u30c9\u30eb<\/td><td>7.13\u30c9\u30eb<\/td><td>87<\/td><td>1.48\u30c9\u30eb<\/td><\/tr><tr><td>2025\u5e741\u6708\u671f\uff08FY25\uff09<\/td><td>956<\/td><td>+8%<\/td><td>62<\/td><td>6.5%<\/td><td>46<\/td><td>6.38\u30c9\u30eb<\/td><td>8.14\u30c9\u30eb<\/td><td>45<\/td><td>1.78\u30c9\u30eb<\/td><\/tr><tr><td>2026\u5e741\u6708\u671f\uff08FY26\uff09<\/td><td>1,135<\/td><td>+19%<\/td><td>81<\/td><td>7.2%<\/td><td>59<\/td><td>8.68\u30c9\u30eb<\/td><td>10.30\u30c9\u30eb<\/td><td>112<\/td><td>2.10\u30c9\u30eb<\/td><\/tr><tr><td><strong>2027\u5e741\u6708\u671f\uff08FY27\uff09\u4f1a\u793e\u4e88\u60f3<\/strong><\/td><td><strong>1,920<\/strong><\/td><td><strong>+69%<\/strong><\/td><td>\u2015<\/td><td>\u2015<\/td><td>\u2015<\/td><td><strong>24.37\u30c9\u30eb<\/strong><\/td><td><strong>25.50\u30c9\u30eb<\/strong><\/td><td>\u2015<\/td><td><strong>2.52\u30c9\u30eb<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u51fa\u5178\uff1a\u5404\u671f\u306e\u6c7a\u7b97\u30ea\u30ea\u30fc\u30b9\u3002FY24\u306e\u7d14\u5229\u76ca\u306f\u5831\u9053\u30d9\u30fc\u30b9\uff08\u6c7a\u7b97\u30ea\u30ea\u30fc\u30b9\u672c\u6587\u306b\u306fEPS\u3068\u55b6\u696d\u5229\u76ca\u306e\u307f\u8a18\u8f09\uff09\u3002ROE\u30fb\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u306f\u3001\u3053\u306e\u4f1a\u793e\u306e\u5834\u5408\u306f\u682a\u4e3b\u8cc7\u672c\u304c\u30de\u30a4\u30ca\u30b9\u306e\u305f\u3081\u7b97\u51fa\u3067\u304d\u307e\u305b\u3093\uff085\u7ae0\u3067\u8aac\u660e\u3057\u307e\u3059\uff09\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u8868\u304b\u3089\u8aad\u307f\u53d6\u3063\u3066\u307b\u3057\u3044\u3053\u3068\u306f\u3001<strong>2024\u5e741\u6708\u671f\u307e\u3067\u306fPC\u4e0d\u6cc1\u3067\u58f2\u4e0a\u304c14%\u6e1b\u3063\u3066\u3044\u305f\u4f1a\u793e\u304c\u30012\u5e74\u3067\u58f2\u4e0a2\u500d\u8d85\u306e\u4e88\u60f3\u3092\u51fa\u3059\u307e\u3067\u306b\u5909\u308f\u3063\u305f<\/strong>\u3068\u3044\u3046\u70b9\u3067\u3059\u3002\u55b6\u696d\u5229\u76ca\u7387\u306f5.9%\u21927.2%\u3068\u4e00\u6841\u53f0\u3067\u3001\u3053\u308c\u304c\u3053\u306e\u4f1a\u793e\u306e\u300c\u666e\u6bb5\u306e\u59ff\u300d\u3067\u3059\u3002\u4eca\u671f\u4e88\u60f3\u306eEPS24.37\u30c9\u30eb\u306f\u524d\u671f\u306e2.8\u500d\u3067\u3001\u5229\u76ca\u7387\u3082\u904e\u53bb\u306e\u6c34\u6e96\u3092\u5927\u304d\u304f\u8d85\u3048\u308b\u898b\u8fbc\u307f\u3067\u3059\u3002\u3053\u306e\u9ad8\u5229\u76ca\u7387\u304c\u7d9a\u304f\u304b\u3069\u3046\u304b\u304c\u3001\u682a\u4fa1\u3092\u8003\u3048\u308b\u3068\u304d\u306e\u6700\u5927\u306e\u8ad6\u70b9\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1-4. \u682a\u4e3b\u512a\u5f85\uff1a\u5236\u5ea6\u306a\u3057<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u7c73\u56fd\u682a\u306b\u306f\u65e5\u672c\u306e\u3088\u3046\u306a\u682a\u4e3b\u512a\u5f85\u5236\u5ea6\u306f\u4e00\u822c\u306b\u3042\u308a\u307e\u305b\u3093\u3002\u30c7\u30eb\u306e\u682a\u4e3b\u5411\u3051\u9084\u5143\u306f<strong>\u56db\u534a\u671f\u914d\u5f53\u3068\u81ea\u793e\u682a\u8cb7\u3044<\/strong>\u306e2\u672c\u7acb\u3066\u3067\u3059\uff085\u7ae0\uff09\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. \u6c7a\u7b97\u30cf\u30a4\u30e9\u30a4\u30c8\uff082026\u5e749\u67081\u65e5\u767a\u8868\uff09<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">2-1. \u640d\u76ca\u8a08\u7b97\u66f8<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u9805\u76ee<\/th><th>\u7b2c2\u56db\u534a\u671f\uff082026\u5e745\u301c7\u6708\uff09<\/th><th>\u524d\u5e74\u540c\u671f<\/th><th>\u524d\u5e74\u6bd4<\/th><th>\u4e0a\u534a\u671f\u7d2f\u8a08<\/th><th>\u524d\u5e74\u6bd4<\/th><\/tr><\/thead><tbody><tr><td>\u58f2\u4e0a\u9ad8<\/td><td>469.7\u5104\u30c9\u30eb<\/td><td>297.8\u5104\u30c9\u30eb<\/td><td>+58%<\/td><td>908.1\u5104\u30c9\u30eb<\/td><td>+71%<\/td><\/tr><tr><td>\u58f2\u4e0a\u7dcf\u5229\u76ca<\/td><td>98.3\u5104\u30c9\u30eb<\/td><td>54.5\u5104\u30c9\u30eb<\/td><td>+80%<\/td><td>176.1\u5104\u30c9\u30eb<\/td><td>+70%<\/td><\/tr><tr><td>\u58f2\u4e0a\u7dcf\u5229\u76ca\u7387<\/td><td>20.9%<\/td><td>18.3%<\/td><td>+2.6pt<\/td><td>19.4%<\/td><td>\u25b20.1pt<\/td><\/tr><tr><td>\u55b6\u696d\u5229\u76ca\uff08GAAP\uff09<\/td><td>53.9\u5104\u30c9\u30eb<\/td><td>17.7\u5104\u30c9\u30eb<\/td><td>+204%<\/td><td>90.4\u5104\u30c9\u30eb<\/td><td>+208%<\/td><\/tr><tr><td>\u55b6\u696d\u5229\u76ca\u7387<\/td><td>11.5%<\/td><td>6.0%<\/td><td>+5.5pt<\/td><td>10.0%<\/td><td>+4.5pt<\/td><\/tr><tr><td>\u7d14\u5229\u76ca<\/td><td>41.3\u5104\u30c9\u30eb<\/td><td>11.6\u5104\u30c9\u30eb<\/td><td>+255%<\/td><td>75.7\u5104\u30c9\u30eb<\/td><td>+256%<\/td><\/tr><tr><td>\u5e0c\u8584\u5316\u5f8cEPS\uff08GAAP\uff09<\/td><td>6.34\u30c9\u30eb<\/td><td>1.70\u30c9\u30eb<\/td><td>+273%<\/td><td>11.58\u30c9\u30eb<\/td><td>+277%<\/td><\/tr><tr><td>\u5e0c\u8584\u5316\u5f8cEPS\uff08\u975eGAAP\uff09<\/td><td>7.04\u30c9\u30eb<\/td><td>2.32\u30c9\u30eb<\/td><td>+203%<\/td><td>11.90\u30c9\u30eb<\/td><td>+208%<\/td><\/tr><tr><td>\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc<\/td><td>22.3\u5104\u30c9\u30eb<\/td><td>25.4\u5104\u30c9\u30eb<\/td><td><strong>\u25b213%<\/strong><\/td><td>63.1\u5104\u30c9\u30eb<\/td><td>+18%<\/td><\/tr><tr><td>\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc<\/td><td>9.9\u5104\u30c9\u30eb<\/td><td>18.7\u5104\u30c9\u30eb<\/td><td><strong>\u25b247%<\/strong><\/td><td>41.0\u5104\u30c9\u30eb<\/td><td>\u00b10%<\/td><\/tr><tr><td>\u8abf\u6574\u5f8c\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc<\/td><td>81.5\u5104\u30c9\u30eb<\/td><td>25.2\u5104\u30c9\u30eb<\/td><td>+224%<\/td><td>113.1\u5104\u30c9\u30eb<\/td><td>+138%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u8868\u306e\u30dd\u30a4\u30f3\u30c8\u306f3\u3064\u3067\u3059\u3002<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>\u58f2\u4e0a\u304c58%\u5897\u3048\u3066\u3001\u55b6\u696d\u5229\u76ca\u304c3\u500d\u3001\u7d14\u5229\u76ca\u304c3.6\u500d\u3002<\/strong> \u58f2\u4e0a\u306e\u4f38\u3073\u4ee5\u4e0a\u306b\u5229\u76ca\u304c\u4f38\u3073\u305f\u306e\u306f\u3001\u8ca9\u7ba1\u8cbb\u30fb\u7814\u7a76\u958b\u767a\u8cbb\uff08\u5408\u8a0844.5\u5104\u30c9\u30eb\u3001\u524d\u5e74\u6bd4+21%\uff09\u306e\u4f38\u3073\u304c\u58f2\u4e0a\u306e\u4f38\u3073\u3088\u308a\u305a\u3063\u3068\u5c0f\u3055\u304b\u3063\u305f\u304b\u3089\u3002\u55b6\u696d\u8cbb\u7528\u306e\u5bfe\u58f2\u4e0a\u6bd4\u7387\u306f12.3%\u21929.5%\u306b\u4e0b\u304c\u308a\u307e\u3057\u305f\u3002\u4f1a\u793e\u306f\u3053\u308c\u3092\u300c\u898f\u6a21\u306e\u5229\u76ca\uff08\u30aa\u30da\u30ec\u30fc\u30c6\u30a3\u30f3\u30b0\u30fb\u30ec\u30d0\u30ec\u30c3\u30b8\uff09\u300d\u3068\u547c\u3093\u3067\u3044\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>EPS\u306e\u4f38\u3073\uff08+273%\uff09\u304c\u7d14\u5229\u76ca\u306e\u4f38\u3073\uff08+255%\uff09\u3088\u308a\u5927\u304d\u3044\u3002<\/strong> \u81ea\u793e\u682a\u8cb7\u3044\u3067\u5e0c\u8584\u5316\u5f8c\u682a\u5f0f\u6570\u304c6.86\u5104\u682a\u21926.52\u5104\u682a\uff08\u25b25%\uff09\u306b\u6e1b\u3063\u305f\u305f\u3081\u3067\u3059\u3002\u691c\u7b97\uff1a3.551\u00f70.950\uff1d3.74\u500d\u2192+274%\u3002\u958b\u793a\u306e+273%\u3068\u4e00\u81f4\u3057\u307e\u3059\uff08\u7aef\u6570\u5dee\uff09\u3002<\/li>\n\n\n\n<li><strong>\u5229\u76ca\u304c3.6\u500d\u306a\u306e\u306b\u3001\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f13%\u6e1b\u3001\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f47%\u6e1b\u3002<\/strong> \u3053\u306e3\u884c\u76ee\u304c\u4eca\u56de\u306e\u6c7a\u7b97\u306e\u4e00\u756a\u308f\u304b\u308a\u306b\u304f\u304f\u4e00\u756a\u5927\u4e8b\u306a\u8ad6\u70b9\u3067\u3059\u30023\u7ae0\u3067\u5206\u89e3\u3057\u307e\u3059\u3002<\/li>\n<\/ol>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">\u7528\u8a9e\u30e1\u30e2\uff1aGAAP\u3068\u975eGAAP GAAP\u306f\u7c73\u56fd\u306e\u4f1a\u8a08\u57fa\u6e96\u3069\u304a\u308a\u306e\u6570\u5b57\u3002\u975eGAAP\u306f\u4f1a\u793e\u304c\u300c\u672c\u696d\u306e\u5b9f\u529b\u3092\u898b\u308b\u305f\u3081\u306b\u300d\u8cb7\u53ce\u306b\u4f34\u3046\u7121\u5f62\u8cc7\u7523\u306e\u511f\u5374\u3001\u682a\u5f0f\u5831\u916c\u8cbb\u7528\u3001\u30ea\u30b9\u30c8\u30e9\u8cbb\u7528\u3001\u6295\u8cc7\u306e\u8a55\u4fa1\u640d\u76ca\u306a\u3069\u3092\u9664\u3044\u305f\u6570\u5b57\u3067\u3059\u3002\u30c7\u30eb\u306f\u8aac\u660e\u4f1a\u3067\u306e\u6570\u5b57\u3092\u3059\u3079\u3066\u975eGAAP\u3067\u8a9e\u308a\u307e\u3059\u3002\u3069\u3061\u3089\u304c\u6b63\u3057\u3044\u3068\u3044\u3046\u3082\u306e\u3067\u306f\u306a\u304f\u3001<strong>\u4e21\u65b9\u898b\u3066\u5dee\u306e\u7406\u7531\u3092\u78ba\u8a8d\u3059\u308b<\/strong>\u306e\u304c\u8aad\u307f\u65b9\u3067\u3059\u3002\u4eca\u56de\u306fGAAP\u306eEPS\uff086.34\u30c9\u30eb\uff09\u306e\u307b\u3046\u304c\u975eGAAP\uff087.04\u30c9\u30eb\uff09\u3088\u308a\u5c0f\u3055\u304f\u3001\u5dee\u306e\u5185\u8a33\u306f\u7121\u5f62\u8cc7\u7523\u511f\u53740.15\uff0b\u682a\u5f0f\u5831\u916c0.28\uff0b\u305d\u306e\u4ed60.39\uff0d\u6295\u8cc7\u8a55\u4fa1\u76ca0.11\uff0d\u7a0e\u52b9\u679c0.01\uff1d0.70\u30c9\u30eb\u3067\u3059\u3002<\/p>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\">2-2. \u8cb8\u501f\u5bfe\u7167\u8868\uff082026\u5e747\u6708\u672b vs 2026\u5e741\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>7\u6708\u672b<\/th><th>1\u6708\u672b<\/th><th>\u5897\u6e1b<\/th><\/tr><\/thead><tbody><tr><td>\u73fe\u91d1\u30fb\u73fe\u91d1\u540c\u7b49\u7269<\/td><td>115.7\u5104\u30c9\u30eb<\/td><td>115.3\u5104\u30c9\u30eb<\/td><td>+0.4<\/td><\/tr><tr><td>\u58f2\u639b\u91d1<\/td><td>229.2\u5104\u30c9\u30eb<\/td><td>175.9\u5104\u30c9\u30eb<\/td><td><strong>+53.3<\/strong><\/td><\/tr><tr><td>\u91d1\u878d\u50b5\u6a29\uff08\u77ed\u671f\uff0b\u9577\u671f\uff09<\/td><td>204.3\u5104\u30c9\u30eb<\/td><td>142.8\u5104\u30c9\u30eb<\/td><td><strong>+61.5<\/strong><\/td><\/tr><tr><td>\u68da\u5378\u8cc7\u7523\uff08\u5728\u5eab\uff09<\/td><td>212.9\u5104\u30c9\u30eb<\/td><td>104.4\u5104\u30c9\u30eb<\/td><td><strong>+108.5\uff082.0\u500d\uff09<\/strong><\/td><\/tr><tr><td>\u7dcf\u8cc7\u7523<\/td><td>1,273.9\u5104\u30c9\u30eb<\/td><td>1,012.9\u5104\u30c9\u30eb<\/td><td>+261.1<\/td><\/tr><tr><td>\u8cb7\u639b\u91d1<\/td><td>497.2\u5104\u30c9\u30eb<\/td><td>336.3\u5104\u30c9\u30eb<\/td><td><strong>+160.9<\/strong><\/td><\/tr><tr><td>\u6709\u5229\u5b50\u8ca0\u50b5\uff08\u77ed\u671f\uff0b\u9577\u671f\uff09<\/td><td>344.7\u5104\u30c9\u30eb<\/td><td>315.0\u5104\u30c9\u30eb<\/td><td>+29.6<\/td><\/tr><tr><td>\u7e70\u5ef6\u53ce\u76ca\uff08\u77ed\u671f\uff0b\u9577\u671f\uff09<\/td><td>297.2\u5104\u30c9\u30eb<\/td><td>269.3\u5104\u30c9\u30eb<\/td><td>+27.9<\/td><\/tr><tr><td>\u81ea\u5df1\u682a\u5f0f\uff08\u53d6\u5f97\u539f\u4fa1\uff09<\/td><td>\u25b2200.1\u5104\u30c9\u30eb<\/td><td>\u25b2145.3\u5104\u30c9\u30eb<\/td><td>\u25b254.8<\/td><\/tr><tr><td><strong>\u682a\u4e3b\u8cc7\u672c<\/strong><\/td><td><strong>\u25b214.3\u5104\u30c9\u30eb<\/strong><\/td><td><strong>\u25b224.7\u5104\u30c9\u30eb<\/strong><\/td><td>+10.4<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u534a\u5e74\u3067\u7dcf\u8cc7\u7523\u304c26%\uff08261\u5104\u30c9\u30eb\uff09\u81a8\u3089\u307f\u307e\u3057\u305f\u3002\u5897\u3048\u305f\u306e\u306f<strong>\u5728\u5eab\uff082\u500d\uff09\u30fb\u91d1\u878d\u50b5\u6a29\uff08+62\u5104\u30c9\u30eb\uff09\u30fb\u58f2\u639b\u91d1\uff08+53\u5104\u30c9\u30eb\uff09\u3067\u3001\u3053\u308c\u3092\u4e3b\u306b\u8cb7\u639b\u91d1\uff08+161\u5104\u30c9\u30eb\uff09<\/strong>\u3001\u3064\u307e\u308a\u90e8\u54c1\u3092\u7d0d\u3081\u305f\u30b5\u30d7\u30e9\u30a4\u30e4\u30fc\u3078\u306e\u672a\u6255\u3044\u3067\u8cc4\u3063\u3066\u3044\u307e\u3059\u30021-1\u306e\u4f8b\u3048\u3067\u8a00\u3048\u3070\u3001\u300c\u5f15\u304d\u53d7\u3051\u305f\u4ed5\u4e8b\u306e\u5206\u3060\u3051\u3001\u90e8\u54c1\u3068\u7acb\u3066\u66ff\u3048\u91d1\u304c\u7a4d\u307f\u4e0a\u304c\u3063\u305f\u300d\u72b6\u614b\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\">\u7528\u8a9e\u30e1\u30e2\uff1a\u91d1\u878d\u50b5\u6a29\uff08Financing receivables\uff09 \u30c7\u30eb\u306b\u306f\u91d1\u878d\u5b50\u4f1a\u793e\uff08Dell Financial Services\u3001DFS\uff09\u304c\u3042\u308a\u3001\u9867\u5ba2\u304c\u6a5f\u5668\u3092\u8cb7\u3046\u3068\u304d\u306b\u30c7\u30eb\u81ea\u8eab\u304c\u5206\u5272\u6255\u3044\u30fb\u30ea\u30fc\u30b9\u306a\u3069\u306e\u5f62\u3067\u8cc7\u91d1\u3092\u8cb8\u3057\u307e\u3059\u3002\u305d\u306e\u8cb8\u4ed8\u6b8b\u9ad8\u304c\u300c\u91d1\u878d\u50b5\u6a29\u300d\u3067\u3059\u3002\u58f2\u639b\u91d1\u304c\u300c\u7d0d\u54c1\u3057\u305f\u304c\u307e\u3060\u5165\u91d1\u3055\u308c\u3066\u3044\u306a\u3044\u4ee3\u91d1\u300d\u306a\u306e\u306b\u5bfe\u3057\u3001\u91d1\u878d\u50b5\u6a29\u306f\u300c\u4ee3\u91d1\u3092\u81ea\u5206\u3067\u878d\u8cc7\u3057\u305f\u300d\u3082\u306e\u3067\u3001\u56de\u53ce\u306b\u306f\u5e74\u5358\u4f4d\u306e\u6642\u9593\u304c\u304b\u304b\u308a\u307e\u3059\u3002\u3053\u306e\u6b8b\u9ad8\u304c\u534a\u5e74\u306762\u5104\u30c9\u30eb\u5897\u3048\u305f\u3053\u3068\u304c\u30013\u7ae0\u306e\u4e3b\u5f79\u306b\u306a\u308a\u307e\u3059\u3002<\/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\">\u7528\u8a9e\u30e1\u30e2\uff1a\u682a\u4e3b\u8cc7\u672c\u304c\u30de\u30a4\u30ca\u30b9 \u65e5\u672c\u306e\u611f\u899a\u3067\u306f\u300c\u50b5\u52d9\u8d85\u904e\uff1d\u5371\u967a\u300d\u3067\u3059\u304c\u3001\u30c7\u30eb\u306e\u5834\u5408\u306f\u4e8b\u60c5\u304c\u9055\u3044\u307e\u3059\u3002\u81ea\u5df1\u682a\u5f0f\uff08\u8cb7\u3044\u623b\u3057\u305f\u81ea\u793e\u682a\uff09\u3092\u53d6\u5f97\u539f\u4fa1\u3067200\u5104\u30c9\u30eb\u5206\u3082\u63a7\u9664\u3057\u3066\u3044\u308b\u305f\u3081\u3067\u3001\u5229\u76ca\u5270\u4f59\u91d1\u81ea\u4f53\u306f100.7\u5104\u30c9\u30eb\u306e\u30d7\u30e9\u30b9\u3067\u3059\u3002\u7c73\u56fd\u306e\u5927\u4f01\u696d\u3067\u306f\u81ea\u793e\u682a\u8cb7\u3044\u3092\u7a4d\u307f\u91cd\u306d\u305f\u7d50\u679c\u3001\u682a\u4e3b\u8cc7\u672c\u304c\u30de\u30a4\u30ca\u30b9\u306b\u306a\u308b\u4f8b\u306f\u73cd\u3057\u304f\u3042\u308a\u307e\u305b\u3093\uff08\u5225\u306e\u6a5f\u4f1a\u306b\u8a73\u8ff0\u3057\u307e\u3059\uff09\u3002\u305f\u3060\u3057\u3001<strong>\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u3084ROE\u3068\u3044\u3063\u305f\u65e5\u672c\u682a\u3067\u4f7f\u3044\u6163\u308c\u305f\u6307\u6a19\u304c\u8a08\u7b97\u3067\u304d\u306a\u3044<\/strong>\u3053\u3068\u306f\u899a\u3048\u3066\u304a\u304f\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\">2-3. \u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u8a08\u7b97\u66f8\uff08\u7b2c2\u56db\u534a\u671f\uff09<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u9805\u76ee<\/th><th>\u7b2c2\u56db\u534a\u671f<\/th><th>\u524d\u5e74\u540c\u671f<\/th><\/tr><\/thead><tbody><tr><td>\u7d14\u5229\u76ca<\/td><td>41.3\u5104\u30c9\u30eb<\/td><td>11.6\u5104\u30c9\u30eb<\/td><\/tr><tr><td>\u904b\u8ee2\u8cc7\u672c\u306a\u3069\u306e\u8abf\u6574<\/td><td>\u25b219.1\u5104\u30c9\u30eb<\/td><td>+13.8\u5104\u30c9\u30eb<\/td><\/tr><tr><td><strong>\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc<\/strong><\/td><td><strong>22.3\u5104\u30c9\u30eb<\/strong><\/td><td><strong>25.4\u5104\u30c9\u30eb<\/strong><\/td><\/tr><tr><td>\u8a2d\u5099\u6295\u8cc7<\/td><td>\u25b212.4\u5104\u30c9\u30eb<\/td><td>\u25b26.8\u5104\u30c9\u30eb<\/td><\/tr><tr><td>\u81ea\u793e\u682a\u8cb7\u3044<\/td><td>\u25b238.0\u5104\u30c9\u30eb<\/td><td>\u25b29.4\u5104\u30c9\u30eb<\/td><\/tr><tr><td>\u914d\u5f53\u652f\u6255\u3044<\/td><td>\u25b24.1\u5104\u30c9\u30eb<\/td><td>\u25b23.7\u5104\u30c9\u30eb<\/td><\/tr><tr><td>\u501f\u5165\uff08\u7d14\u984d\uff09<\/td><td>+33.7\u5104\u30c9\u30eb<\/td><td>\u25b21.5\u5104\u30c9\u30eb<\/td><\/tr><tr><td>\u73fe\u91d1\u306e\u5897\u6e1b<\/td><td>\u25b20.2\u5104\u30c9\u30eb<\/td><td>+4.4\u5104\u30c9\u30eb<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u7d14\u5229\u76ca41\u5104\u30c9\u30eb\u306b\u5bfe\u3057\u3066\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f22\u5104\u30c9\u30eb\u3002\u5dee\u306e19\u5104\u30c9\u30eb\u304c\u300c\u904b\u8ee2\u8cc7\u672c\u306e\u5897\u52a0\u300d\u3001\u3064\u307e\u308a\u5728\u5eab\u30fb\u58f2\u639b\u91d1\u30fb\u91d1\u878d\u50b5\u6a29\u306b\u56de\u3063\u305f\u5206\u3067\u3059\u3002\u305d\u3057\u3066\u81ea\u793e\u682a\u8cb7\u304438\u5104\u30c9\u30eb\u306f\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3067\u306f\u8db3\u308a\u305a\u3001<strong>\u501f\u5165\u309234\u5104\u30c9\u30eb\u7d14\u5897\u3055\u305b\u3066<\/strong>\u8cc4\u3063\u305f\u5f62\u306b\u306a\u3063\u3066\u3044\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\">3. \u6df1\u6398\u308a\uff1a\u300c\u8abf\u6574\u5f8c\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc81\u5104\u30c9\u30eb\u300d\u306e\u4e2d\u8eab<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">3-1. 3\u3064\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u304c\u4e26\u3093\u3067\u3044\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u6c7a\u7b97\u30ea\u30ea\u30fc\u30b9\u306b\u306f\u300c\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u300d\u3068\u540d\u306e\u4ed8\u304f\u6570\u5b57\u304c3\u3064\u4e26\u3093\u3067\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u6307\u6a19<\/th><th>\u7b2c2\u56db\u534a\u671f<\/th><th>\u524d\u5e74\u6bd4<\/th><th>\u8a08\u7b97\u5f0f<\/th><\/tr><\/thead><tbody><tr><td>\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc<\/td><td>22.3\u5104\u30c9\u30eb<\/td><td>\u25b213%<\/td><td>\u4f1a\u8a08\u57fa\u6e96\u3069\u304a\u308a<\/td><\/tr><tr><td>\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\uff08FCF\uff09<\/td><td>9.9\u5104\u30c9\u30eb<\/td><td>\u25b247%<\/td><td>\u55b6\u696dCF\uff0d\u8a2d\u5099\u6295\u8cc712.4\u5104\u30c9\u30eb<\/td><\/tr><tr><td>\u8abf\u6574\u5f8cFCF<\/td><td>81.5\u5104\u30c9\u30eb<\/td><td>+224%<\/td><td>FCF\uff0b\u91d1\u878d\u50b5\u6a29\u306e\u5897\u52a066.7\u5104\u30c9\u30eb\uff0b\u30ea\u30fc\u30b9\u6a5f\u56684.96\u5104\u30c9\u30eb<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u6c7a\u7b97\u30ea\u30ea\u30fc\u30b9\u306e\u5192\u982d\u30b5\u30de\u30ea\u30fc\u306b\u8f09\u3063\u3066\u3044\u308b\u306e\u306f\u300c\u55b6\u696dCF 22\u5104\u30c9\u30eb\u300d\u3067\u3001CFO\u306e\u8aac\u660e\u4f1a\u30b3\u30e1\u30f3\u30c8\u3067\u5f37\u8abf\u3055\u308c\u308b\u306e\u306f\u300c\u8abf\u6574\u5f8cFCF 81\u5104\u30c9\u30eb\u300d\u3067\u3059\u3002\u540c\u3058\u56db\u534a\u671f\u306e\u8a71\u306a\u306e\u306b\u3001\u4e0a\u304b\u30893\u884c\u76ee\u307e\u3067\u4e0b\u308a\u308b\u3068\u6570\u5b57\u304c8\u500d\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3-2. \u300c\u8abf\u6574\u5f8c\u300d\u3068\u306f\u4f55\u3092\u8db3\u3057\u623b\u3057\u3066\u3044\u308b\u306e\u304b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f1a\u793e\u306e\u5b9a\u7fa9\uff08\u30ea\u30ea\u30fc\u30b9\u672b\u5c3e\u306e\u975eGAAP\u8abf\u6574\u8868\uff09\u306b\u3088\u308b\u3068\u3001\u8abf\u6574\u5f8cFCF\u306f**\u300c\u91d1\u878d\u50b5\u6a29\u306e\u5909\u52d5\u306b\u3088\u308b\u55b6\u696dCF\u3078\u306e\u5f71\u97ff\u3092\u9664\u3044\u305f\u300d**\u6570\u5b57\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3064\u307e\u308a\u3053\u3046\u3044\u3046\u7406\u5c48\u3067\u3059\u3002\u300c\u9867\u5ba2\u306b\u878d\u8cc7\u3057\u305f\u5206\uff08\u91d1\u878d\u50b5\u6a29\u306e\u5897\u52a0\uff09\u306f\u3001\u55b6\u696dCF\u306e\u8a08\u7b97\u4e0a\u306f\u30ad\u30e3\u30c3\u30b7\u30e5\u306e\u6d41\u51fa\u3068\u3057\u3066\u6271\u308f\u308c\u308b\u3002\u3057\u304b\u3057\u3001\u305d\u308c\u306f\u672c\u696d\u306e\u7a3c\u3050\u529b\u3068\u306f\u5225\u306e\u300e\u91d1\u878d\u4e8b\u696d\u300f\u306e\u8a71\u306a\u306e\u3067\u3001\u9664\u3044\u3066\u898b\u305b\u307e\u3059\u300d\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7406\u5c48\u81ea\u4f53\u306f\u7b4b\u304c\u901a\u3063\u3066\u3044\u307e\u3059\u3002\u9280\u884c\u304c\u304a\u91d1\u3092\u8cb8\u3059\u305f\u3073\u306b\u300c\u30ad\u30e3\u30c3\u30b7\u30e5\u304c\u6e1b\u3063\u305f\u300d\u3068\u8a00\u308f\u306a\u3044\u306e\u3068\u540c\u3058\u3067\u3059\u3002\u554f\u984c\u306f<strong>\u5272\u5408<\/strong>\u3067\u3059\u3002<\/p>\n\n\n\n<pre class=\"wp-block-code\"><code>\u8abf\u6574\u5f8cFCF 81.5\u5104\u30c9\u30eb\n  \uff1d FCF 9.9\u5104\u30c9\u30eb\n  \uff0b \u91d1\u878d\u50b5\u6a29\u306e\u5897\u52a0 66.7\u5104\u30c9\u30eb   \u2190 82%\n  \uff0b \u30ea\u30fc\u30b9\u6a5f\u5668 5.0\u5104\u30c9\u30eb<\/code><\/pre>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u8abf\u6574\u5f8cFCF\u306e82%\u304c\u3001\u300c\u9867\u5ba2\u306b\u8cb8\u3057\u305f\u304a\u91d1\u300d\u3092\u8db3\u3057\u623b\u3057\u305f\u5206<\/strong>\u3067\u3059\u3002\u524d\u5e74\u540c\u671f\u306f\u3053\u306e\u8db3\u3057\u623b\u3057\u304c5.9\u5104\u30c9\u30eb\u3067\u3001\u8abf\u6574\u5f8cFCF25.2\u5104\u30c9\u30eb\u306e23%\u3067\u3057\u305f\u30021\u5e74\u3067\u69cb\u9020\u304c\u5909\u308f\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3-3. \u4f55\u304c\u8d77\u304d\u3066\u3044\u308b\u306e\u304b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u8aac\u660e\u4f1a\u306e\u8cea\u7591\u3067\u3001\u30a2\u30ca\u30ea\u30b9\u30c8\u304c\u307e\u3055\u306b\u3053\u306e\u70b9\uff08\u91d1\u878d\u50b5\u6a29\u306e\u6025\u5897\uff09\u3092\u8cea\u554f\u3057\u3066\u3044\u307e\u3059\u3002CFO\u306e\u56de\u7b54\u3092\u8981\u7d04\u3059\u308b\u3068\u3001\u300c\u4e8b\u696d\u306e\u6210\u9577\u306b\u4f34\u3046\u3082\u306e\u3067\u3001AI\u306e\u62e1\u5927\u306b\u7d10\u3065\u304f\u3002DFS\uff08\u91d1\u878d\u5b50\u4f1a\u793e\uff09\u306f\u9078\u5225\u7684\u306b\u3001\u4e3b\u306b\u77ed\u671f\u306e\u878d\u8cc7\u306b\u7d5e\u3063\u3066\u95a2\u4e0e\u3059\u308b\u3002\u59ff\u52e2\u306b\u5909\u66f4\u306f\u306a\u3044\u300d\u3068\u3044\u3046\u3082\u306e\u3067\u3057\u305f\u3002COO\u306f\u5225\u306e\u7b87\u6240\u3067\u3001\u300c\u6ce8\u6587\u304b\u3089\u6700\u521d\u306e\u30c8\u30fc\u30af\u30f3\uff08AI\u304c\u52d5\u304d\u59cb\u3081\u308b\u77ac\u9593\uff09\u307e\u3067\u306e\u6a4b\u6e21\u3057\u3092DFS\u304c\u62c5\u3046\u3053\u3068\u304c\u5dee\u5225\u5316\u306b\u306a\u3063\u3066\u3044\u308b\u300d\u3068\u3082\u8ff0\u3079\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u3053\u304b\u3089\u8aad\u307f\u53d6\u308c\u308b\u69cb\u56f3\u306f\u3053\u3046\u3067\u3059\u3002<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>AI\u30b5\u30fc\u30d0\u30fc\u306e\u9867\u5ba2\u306e\u4e2d\u306b\u306f\u3001<strong>\u300c\u30cd\u30aa\u30af\u30e9\u30a6\u30c9\u300d\u3068\u547c\u3070\u308c\u308b\u65b0\u8208\u306eAI\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\u4e8b\u696d\u8005<\/strong>\u304c\u3044\u308b\uff08\u4f1a\u793e\u306f\u9867\u5ba2\u5c64\u3092\u300c\u30cd\u30aa\u30af\u30e9\u30a6\u30c9\u30fb\u653f\u5e9c\u7cfb\u30fb\u4f01\u696d\u300d\u306e3\u3064\u3067\u8a9e\u3063\u3066\u3044\u307e\u3059\uff09<\/li>\n\n\n\n<li>\u3053\u3046\u3057\u305f\u9867\u5ba2\u306f\u5de8\u984d\u306eGPU\u30b5\u30fc\u30d0\u30fc\u3092\u4e00\u62ec\u3067\u8cb7\u3046\u8cc7\u91d1\u3092\u6301\u305f\u306a\u3044\u3053\u3068\u304c\u3042\u308a\u3001<strong>\u30c7\u30eb\u304c\u81ea\u3089\u878d\u8cc7\u3057\u3066\u7d0d\u54c1\u3092\u6210\u7acb\u3055\u305b\u3066\u3044\u308b<\/strong><\/li>\n\n\n\n<li>\u305d\u306e\u878d\u8cc7\u304c\u91d1\u878d\u50b5\u6a29\u3068\u3057\u3066\u6b8b\u308a\u3001\u55b6\u696dCF\u3092\u62bc\u3057\u4e0b\u3052\u308b<\/li>\n\n\n\n<li>\u4f1a\u793e\u306f\u300c\u305d\u308c\u306f\u91d1\u878d\u4e8b\u696d\u3060\u304b\u3089\u300d\u3068\u3057\u3066\u8abf\u6574\u5f8cFCF\u3067\u306f\u9664\u3044\u3066\u898b\u305b\u308b<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">1-1\u306e\u4f8b\u3048\u306b\u623b\u308b\u3068\u3001\u300c\u6a5f\u5668\u3092\u7528\u610f\u3057\u3066\u3001\u7f6e\u3044\u3066\u3001\u9762\u5012\u3092\u898b\u308b\u300d\u306e\u5148\u306b**\u300c\u652f\u6255\u3044\u3082\u5f85\u3063\u3066\u3042\u3052\u308b\u300d**\u304c\u52a0\u308f\u3063\u305f\u3001\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002\u305d\u308c\u81ea\u4f53\u306f\u6614\u304b\u3089\u30c7\u30eb\u304c\u3084\u3063\u3066\u304d\u305f\u3053\u3068\u3067\u3059\u304c\u3001<strong>AI\u30b5\u30fc\u30d0\u30fc\u306e\u5358\u4fa1\u304c\u6841\u9055\u3044\u306b\u5927\u304d\u3044<\/strong>\u305f\u3081\u3001\u8cb8\u501f\u5bfe\u7167\u8868\u3078\u306e\u5f71\u97ff\u3082\u6841\u9055\u3044\u306b\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3-4. \u3069\u3046\u8a55\u4fa1\u3059\u308b\u304b\uff08\u4e21\u8ad6\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u554f\u984c\u8996\u3057\u306a\u3044\u898b\u65b9<\/strong>\uff1a\u91d1\u878d\u50b5\u6a29\u306f\u56de\u53ce\u3055\u308c\u308c\u3070\u30ad\u30e3\u30c3\u30b7\u30e5\u306b\u623b\u308b\u3002\u30c7\u30eb\u306f\u91d1\u878d\u4e8b\u696d\u3092\u9577\u5e74\u3084\u3063\u3066\u304a\u308a\u3001\u8cb8\u5012\u5f15\u5f53\u91d1\u3082\u8a08\u4e0a\u3057\u3066\u3044\u308b\uff08\u77ed\u671f\u50b5\u6a29\u306b\u5bfe\u30571.86\u5104\u30c9\u30eb\u3001\u9577\u671f\u306b1.28\u5104\u30c9\u30eb\uff09\u3002\u7d14\u5229\u76ca\u306b\u5bfe\u3059\u308b\u8abf\u6574\u5f8cFCF\u306e\u6bd4\u7387\u306f1\u500d\u8d85\u3067\u3001\u4f1a\u793e\u306f\u8cc7\u672c\u30fb\u6d41\u52d5\u6027\u306b\u554f\u984c\u306f\u306a\u3044\u3068\u3057\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u8b66\u6212\u3059\u308b\u898b\u65b9<\/strong>\uff1a\u8cb8\u3057\u305f\u76f8\u624b\u304c\u8ab0\u304b\u306f\u958b\u793a\u3055\u308c\u3066\u3044\u306a\u3044\u3002AI\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\u4e8b\u696d\u8005\u306f\u696d\u6b74\u304c\u6d45\u304f\u3001\u8cc7\u91d1\u8abf\u9054\u74b0\u5883\u304c\u60aa\u5316\u3059\u308c\u3070\u8fd4\u6e08\u304c\u6ede\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002\u534a\u5e74\u306762\u5104\u30c9\u30eb\u5897\u3048\u305f\u50b5\u6a29\u306e\u3046\u3061\u3001\u3069\u3053\u307e\u3067\u304c\u77ed\u671f\u3067\u3069\u3053\u307e\u3067\u304c\u9577\u671f\u304b\u306f\u958b\u793a\u4e0a\u3001\u77ed\u671f128\u5104\u30c9\u30eb\u30fb\u9577\u671f76\u5104\u30c9\u30eb\u3068\u3044\u3046\u6b8b\u9ad8\u3067\u3057\u304b\u898b\u3048\u306a\u3044\uff087\u6708\u672b\uff09\u3002<strong>\u300c\u8abf\u6574\u5f8cFCF\u300d\u3060\u3051\u3092\u898b\u3066\u300c\u30ad\u30e3\u30c3\u30b7\u30e5\u5275\u51fa\u529b\u304c3\u500d\u306b\u306a\u3063\u305f\u300d\u3068\u8aad\u3080\u306e\u306f\u3001\u3053\u306e\u6c7a\u7b97\u306e\u6700\u3082\u5371\u967a\u306a\u8aa4\u8aad<\/strong>\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7b46\u8005\u306e\u6574\u7406\u3068\u3057\u3066\u306f\u3001<strong>\u55b6\u696dCF\uff0822\u5104\u30c9\u30eb\u3001\u524d\u5e74\u6bd4\u25b213%\uff09\u3092\u57fa\u6e96\u306b\u898b\u3066\u3001\u8abf\u6574\u5f8cFCF\u306f\u300c\u30c7\u30eb\u304c\u9867\u5ba2\u306e\u8cc7\u91d1\u7e70\u308a\u3092\u3069\u308c\u3060\u3051\u80a9\u4ee3\u308f\u308a\u3057\u3066\u3044\u308b\u304b\u300d\u306e\u6307\u6a19\u3068\u3057\u3066\u5225\u67a0\u3067\u8ffd\u3046<\/strong>\u306e\u304c\u3001\u3053\u306e\u4f1a\u793e\u306e\u6570\u5b57\u306e\u8aad\u307f\u65b9\u3060\u3068\u8003\u3048\u307e\u3059\u3002\u6b21\u306e\u56db\u534a\u671f\u306b\u898b\u308b\u3079\u304d\u306f\u3001\u91d1\u878d\u50b5\u6a29\u306e\u6b8b\u9ad8\u304c\u3055\u3089\u306b\u5897\u3048\u308b\u306e\u304b\u3001\u56de\u53ce\u306b\u8ee2\u3058\u308b\u306e\u304b\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\">\u7528\u8a9e\u30e1\u30e2\uff1a\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\uff08FCF\uff09 \u55b6\u696d\u6d3b\u52d5\u3067\u7a3c\u3044\u3060\u73fe\u91d1\u304b\u3089\u3001\u4e8b\u696d\u3092\u7dad\u6301\u30fb\u62e1\u5927\u3059\u308b\u305f\u3081\u306e\u8a2d\u5099\u6295\u8cc7\u3092\u5f15\u3044\u305f\u6b8b\u308a\u3002\u300c\u682a\u4e3b\u306b\u8fd4\u3057\u305f\u308a\u501f\u91d1\u3092\u8fd4\u3057\u305f\u308a\u306b\u4f7f\u3048\u308b\u73fe\u91d1\u300d\u306e\u76ee\u5b89\u3067\u3059\u3002\u4eca\u56de\u306eFCF9.9\u5104\u30c9\u30eb\u306b\u5bfe\u3057\u3001\u81ea\u793e\u682a\u8cb7\u3044\u3068\u914d\u5f53\u306e\u5408\u8a08\u306f42\u5104\u30c9\u30eb\u3002\u5dee\u984d\u306f\u501f\u5165\u3067\u8cc4\u308f\u308c\u3066\u3044\u307e\u3059\uff082-3\u306e\u8868\uff09\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\">4. \u90e8\u9580\u5225\u30fb\u30a4\u30d9\u30f3\u30c8\u89e3\u8aac<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">4-1. AI\u30b5\u30fc\u30d0\u30fc\uff1a\u53d7\u6ce8\u6b8b950\u5104\u30c9\u30eb\u3092\u81ea\u5206\u3067\u7a4d\u307f\u4e0a\u3052\u3066\u307f\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30c7\u30eb\u306fAI\u30b5\u30fc\u30d0\u30fc\u306b\u3064\u3044\u3066\u300c\u53d7\u6ce8\u9ad8\u300d\u300c\u58f2\u4e0a\u9ad8\u300d\u300c\u53d7\u6ce8\u6b8b\u300d\u306e3\u3064\u3092\u56db\u534a\u671f\u3054\u3068\u306b\u958b\u793a\u3057\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u306f\u65e5\u672c\u306e\u5efa\u8a2d\u4f1a\u793e\u3068\u540c\u3058\u8aad\u307f\u65b9\u304c\u3067\u304d\u307e\u3059\u3002<strong>\u671f\u9996\u306e\u53d7\u6ce8\u6b8b\uff0b\u5f53\u671f\u306e\u53d7\u6ce8\u9ad8\uff0d\u5f53\u671f\u306e\u58f2\u4e0a\u9ad8\uff1d\u671f\u672b\u306e\u53d7\u6ce8\u6b8b<\/strong>\u3067\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u6642\u70b9<\/th><th>\u671f\u9996\u53d7\u6ce8\u6b8b<\/th><th>\u53d7\u6ce8\u9ad8<\/th><th>\u58f2\u4e0a\u9ad8<\/th><th>\u671f\u672b\u53d7\u6ce8\u6b8b\uff08\u8a08\u7b97\uff09<\/th><th>\u4f1a\u793e\u958b\u793a<\/th><\/tr><\/thead><tbody><tr><td>2026\u5e741\u6708\u671f\u672b\uff08FY26\u672b\uff09<\/td><td>\u2015<\/td><td>\u2015<\/td><td>\u2015<\/td><td>\u2015<\/td><td>430\u5104\u30c9\u30eb<\/td><\/tr><tr><td>\u7b2c1\u56db\u534a\u671f\uff082\u301c4\u6708\uff09<\/td><td>430<\/td><td>244<\/td><td>161<\/td><td>513<\/td><td>\u2015\uff08\u7b46\u8005\u672a\u78ba\u8a8d\uff09<\/td><\/tr><tr><td>\u7b2c2\u56db\u534a\u671f\uff085\u301c7\u6708\uff09<\/td><td>513<\/td><td>609<\/td><td>164<\/td><td><strong>958<\/strong><\/td><td><strong>950\u5104\u30c9\u30eb<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\uff08\u5358\u4f4d\uff1a\u5104\u30c9\u30eb\u3002\u53d7\u6ce8\u9ad8\u30fb\u53d7\u6ce8\u6b8b\u306f\u4f1a\u793e\u304c\u8aac\u660e\u4f1a\u3067\u793a\u3057\u305f\u6982\u6570\u3002\u58f2\u4e0a\u9ad8\u306f\u6c7a\u7b97\u30ea\u30ea\u30fc\u30b9\u306e\u78ba\u5b9a\u5024\uff09<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8a08\u7b97\u5024958\u3068\u4f1a\u793e\u958b\u793a950\u306e\u5dee8\u5104\u30c9\u30eb\u306f\u3001\u6982\u6570\u306e\u7aef\u6570\u3084\u53d7\u6ce8\u53d6\u6d88\u306a\u3069\u306b\u3088\u308b\u3082\u306e\u3068\u8003\u3048\u3089\u308c\u307e\u3059\u304c\u3001\u958b\u793a\u304b\u3089\u7406\u7531\u306f\u78ba\u8a8d\u3067\u304d\u307e\u305b\u3093\u3002<strong>\u91cd\u8981\u306a\u306e\u306f\u3001\u3053\u306e\u5f0f\u304c\u6210\u308a\u7acb\u3064\u3053\u3068\u3067\u300c\u53d7\u6ce8\u6b8b950\u5104\u30c9\u30eb\u300d\u304c\u7a7a\u4e2d\u306e\u6570\u5b57\u3067\u306f\u306a\u3044\u3068\u78ba\u304b\u3081\u3089\u308c\u308b<\/strong>\u3053\u3068\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u8868\u304b\u3089\u8aad\u307f\u53d6\u308c\u308b\u3053\u3068\u306f2\u3064\u3067\u3059\u3002<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>\u7b2c2\u56db\u534a\u671f\u306e\u53d7\u6ce8\u9ad8609\u5104\u30c9\u30eb\u306f\u3001\u305d\u306e\u56db\u534a\u671f\u306e\u58f2\u4e0a164\u5104\u30c9\u30eb\u306e3.7\u500d\u3002<\/strong> \u6ce8\u6587\u304c\u6765\u3066\u3082\u4f5c\u308c\u3066\u3044\u307e\u305b\u3093\u3002\u4f1a\u793e\u81ea\u8eab\u304c\u300c\u9700\u8981\u304c\u4f9b\u7d66\u3092\u4e0a\u56de\u3063\u3066\u3044\u308b\u300d\u300cDRAM\u3001DRAM\u3001DRAM\u3002\u6b21\u306bNAND\u3001NAND\u3001NAND\u300d\uff08COO\u306e\u8aac\u660e\u4f1a\u767a\u8a00\u306e\u8981\u7d04\uff09\u3068\u3001\u30e1\u30e2\u30ea\u90e8\u54c1\u306e\u4e0d\u8db3\u3092\u7e70\u308a\u8fd4\u3057\u8ff0\u3079\u3066\u3044\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u53d7\u6ce8\u6b8b950\u5104\u30c9\u30eb\u306f\u3001\u4e0b\u534a\u671f\u306eAI\u30b5\u30fc\u30d0\u30fc\u58f2\u4e0a\u8a08\u753b415\u5104\u30c9\u30eb\uff08\u901a\u671f740\u5104\uff0d\u4e0a\u671f325\u5104\uff09\u306e2.3\u500d\u3002<\/strong> \u3064\u307e\u308a\u4eca\u671f\u306e\u6b8b\u308a\u3092\u5168\u90e8\u6d88\u5316\u3057\u3066\u3082\u3001\u6765\u671f\u306b500\u5104\u30c9\u30eb\u8d85\u3092\u6301\u3061\u8d8a\u3059\u8a08\u7b97\u3067\u3059\uff08\u7b46\u8005\u306e\u6982\u7b97\u3002\u53d7\u6ce8\u306e\u7d0d\u671f\u3084\u30ad\u30e3\u30f3\u30bb\u30eb\u6761\u4ef6\u306f\u4e0d\u660e\uff09\u3002<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f1a\u793e\u306f\u3055\u3089\u306b\u300c\u5411\u3053\u30465\u56db\u534a\u671f\u306e\u30d1\u30a4\u30d7\u30e9\u30a4\u30f3\uff08\u5546\u8ac7\u306e\u898b\u8fbc\u307f\uff09\u306f\u53d7\u6ce8\u6b8b\u306e\u4f55\u500d\u3082\u3042\u308b\u300d\u300c\u9867\u5ba2\u6570\u306f6,500\u793e\u3092\u8d85\u3048\u305f\u300d\u300c\u76f4\u8fd13\u56db\u534a\u671f\u30673,300\u793e\u5897\u3048\u305f\uff08\u6700\u521d\u306e3,200\u793e\u306b\u9054\u3059\u308b\u306e\u306b8\u56db\u534a\u671f\u304b\u304b\u3063\u305f\uff09\u300d\u3068\u8ff0\u3079\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u3089\u306f\u8aac\u660e\u4f1a\u3067\u306e\u767a\u8a00\u30d9\u30fc\u30b9\u3067\u3001\u30d1\u30a4\u30d7\u30e9\u30a4\u30f3\u306e\u91d1\u984d\u306f\u958b\u793a\u3055\u308c\u3066\u3044\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u53d7\u6ce8\u6b8b\u306e\u6ce8\u610f\u70b9<\/strong>\uff1a\u53d7\u6ce8\u6b8b\u306f\u300c\u7d0d\u54c1\u3092\u7d04\u675f\u3055\u308c\u305f\u6ce8\u6587\u300d\u3067\u3059\u304c\u3001\u7d0d\u671f\u304c\u6570\u56db\u534a\u671f\u5148\u306e\u3082\u306e\u3092\u542b\u307f\u307e\u3059\u3002\u307e\u305f\u90e8\u54c1\u4e0d\u8db3\u3067\u7d0d\u54c1\u3067\u304d\u306a\u3051\u308c\u3070\u3001\u58f2\u4e0a\u306b\u306a\u3089\u306a\u3044\u307e\u307e\u53d7\u6ce8\u6b8b\u306b\u6b8b\u308a\u7d9a\u3051\u307e\u3059\u3002\u53d7\u6ce8\u6b8b\u304c\u5897\u3048\u308b\u3053\u3068\u306f\u300c\u9700\u8981\u304c\u3042\u308b\u300d\u8a3c\u62e0\u3067\u3042\u308b\u3068\u540c\u6642\u306b\u3001\u300c\u4f9b\u7d66\u304c\u8ffd\u3044\u3064\u3044\u3066\u3044\u306a\u3044\u300d\u8a3c\u62e0\u3067\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">4-2. \u5f93\u6765\u578b\u30b5\u30fc\u30d0\u30fc\u30fb\u30cd\u30c3\u30c8\u30ef\u30fc\u30af\uff1a+122%\u306e\u4e2d\u8eab<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">AI\u30b5\u30fc\u30d0\u30fc\u3088\u308a\u4f38\u3073\u7387\u304c\u9ad8\u304b\u3063\u305f\u306e\u304c\u3053\u306e\u533a\u5206\uff08105\u5104\u30c9\u30eb\u3001+122%\uff09\u3067\u3059\u3002\u8aac\u660e\u4f1a\u3067\u30a2\u30ca\u30ea\u30b9\u30c8\u304c\u300c\u4fa1\u683c\u4e0a\u6607\u3068\u524d\u5012\u3057\u8cfc\u5165\u3067\u306f\u306a\u3044\u304b\u300d\u3068\u7591\u554f\u3092\u6295\u3052\u3001COO\u306f\u6b21\u306e\u3088\u3046\u306b\u7b54\u3048\u307e\u3057\u305f\uff08\u8981\u7d04\uff09\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u6210\u9577\u306e\u5927\u534a\u306f\u65e2\u5b58\u306e\u4f01\u696d\u9867\u5ba2\u3067\u3001\u53e4\u3044\u30b5\u30fc\u30d0\u30fc\u3092\u65b0\u3057\u3044\u4e16\u4ee3\u306b\u96c6\u7d04\u3059\u308b\u300c\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\u306e\u8fd1\u4ee3\u5316\u300d\u9700\u8981<\/li>\n\n\n\n<li>\u8a2d\u7f6e\u6e08\u307f\u306e\u30b5\u30fc\u30d0\u30fc\u306e\u3046\u3061120\u4e07\u53f0\u304c\u65e7\u4e16\u4ee3\uff0814G\u4ee5\u524d\uff09\u3067\u3001\u65b0\u4e16\u4ee3\u306b\u7f6e\u304d\u63db\u3048\u308b\u30686\u301c8\u53f0\u304c1\u53f0\u3001\u6b21\u306e18G\u306a\u308912\u301c14\u53f0\u304c1\u53f0\u306b\u96c6\u7d04\u3067\u304d\u308b<\/li>\n\n\n\n<li>\u30bb\u30ad\u30e5\u30ea\u30c6\u30a3\u8981\u4ef6\u306e\u9ad8\u5ea6\u5316\uff08\u8010\u91cf\u5b50\u6697\u53f7\u306a\u3069\uff09\u304c\u3001\u53e4\u3044\u6a5f\u5668\u306e\u66f4\u65b0\u3092\u5f37\u3044\u308b<\/li>\n\n\n\n<li><strong>\u305f\u3060\u3057\u4fa1\u683c\u4e0a\u6607\uff08\u30a4\u30f3\u30d5\u30ec\uff09\u306e\u6210\u5206\u3082\u542b\u307e\u308c\u308b\u3053\u3068\u306f\u8a8d\u3081\u3066\u3044\u308b\u3002<\/strong> \u90e8\u54c1\u30b3\u30b9\u30c8\u304c\u4e0a\u304c\u308a\u3001\u3088\u308a\u591a\u304f\u306e\u30b3\u30a2\u30fb\u30e1\u30e2\u30ea\u30fb\u30b9\u30c8\u30ec\u30fc\u30b8\u3092\u7a4d\u3093\u3060\u69cb\u6210\u304c\u58f2\u308c\u3066\u3044\u308b\u305f\u3081<\/li>\n\n\n\n<li>\u76f4\u8fd12\u56db\u534a\u671f\u3067\u5f93\u6765\u578b\u30b5\u30fc\u30d0\u30fc\u306e\u30b7\u30a7\u30a2\u309210\u30dd\u30a4\u30f3\u30c8\u4ee5\u4e0a\u7372\u5f97\u3057\u305f<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u8aad\u307f\u65b9<\/strong>\uff1a+122%\u306e\u3046\u3061\u3001\u4f55%\u304c\u53f0\u6570\u5897\u3067\u4f55%\u304c\u5358\u4fa1\u4e0a\u6607\u304b\u306f\u958b\u793a\u3055\u308c\u3066\u3044\u307e\u305b\u3093\u3002\u4f1a\u793e\u306f\u300c\u4e0b\u534a\u671f\u3082\u4e09\u6841\u6210\u9577\u300d\u3068\u8a00\u3063\u3066\u3044\u307e\u3059\u304c\u3001\u30e1\u30e2\u30ea\u4fa1\u683c\u304c\u53cd\u8ee2\u3059\u308c\u3070\u5358\u4fa1\u8981\u56e0\u306f\u5265\u843d\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">4-3. \u30b9\u30c8\u30ec\u30fc\u30b8\uff1a+26%\u3001\u5229\u76ca\u7387\u6539\u5584\u306e\u4e3b\u5f79<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30b9\u30c8\u30ec\u30fc\u30b8\uff0848.5\u5104\u30c9\u30eb\u3001+26%\uff09\u306f\u524d\u671f\u307e\u30671\u301c2%\u6210\u9577\u3060\u3063\u305f\u533a\u5206\u3067\u3001\u4eca\u56de\u306e\u4f38\u3073\u306f\u4f1a\u793e\u304c\u300cEMC\u8cb7\u53ce\u4ee5\u6765\u300d\u3068\u8a00\u3046\u307b\u3069\u306e\u6c34\u6e96\u3067\u3059\u3002\u30dd\u30a4\u30f3\u30c8\u306f\u3001\u4ed6\u793e\u88fd\u54c1\u306e\u518d\u8ca9\uff08\u30d1\u30fc\u30c8\u30ca\u30fcIP\uff09\u304b\u3089\u81ea\u793e\u88fd\u54c1\uff08\u30c7\u30ebIP\uff09\u3078\u306e\u5165\u308c\u66ff\u3048\u304c\u9032\u307f\u3001<strong>\u5229\u76ca\u7387\u304c\u4e0a\u304c\u3063\u3066\u3044\u308b<\/strong>\u3053\u3068\u3067\u3059\u3002CFO\u306f\u300cISG\u306e\u5229\u76ca\u738715%\u306e\u3046\u3061\u3001\u898f\u6a21\u306e\u5229\u76ca\u304c400bp\u8d85\u3001\u30b9\u30c8\u30ec\u30fc\u30b8\u306e\u5229\u76ca\u7387\u6539\u5584\u304c\u305d\u306e\u6b21\u300d\u3068\u8aac\u660e\u3057\u3066\u3044\u307e\u3059\u3002\u4e00\u65b9\u3001\u3053\u3053\u306b\u3082NAND\u4fa1\u683c\u4e0a\u6607\u306b\u3088\u308b\u5358\u4fa1\u4e0a\u6607\u304c\u542b\u307e\u308c\u308b\u3068COO\u306f\u8a8d\u3081\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">4-4. PC\uff08CSG\uff09\uff1a+20%\u3060\u304c\u3001\u4e0b\u534a\u671f\u306f\u6e1b\u901f\u898b\u8fbc\u307f<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u6cd5\u4eba\u5411\u3051PC\u304c+22%\u3067\u300c5\u5e74\u3067\u6700\u3082\u901f\u3044\u6210\u9577\u300d\u3002\u5927\u4f01\u696d\u304c\u8a2d\u7f6e\u6e08\u307fPC\u306e\u66f4\u65b0\u3092\u9032\u3081\u3066\u3044\u308b\u3053\u3068\u306b\u3088\u308b\u3082\u306e\u3067\u3059\uff08\u4f1a\u793e\u8aac\u660e\uff09\u3002\u305f\u3060\u3057\u4f1a\u793e\u306f<strong>\u7b2c3\u56db\u534a\u671f\u306eCSG\u5229\u76ca\u7387\u3092\u300c6%\u7a0b\u5ea6\u306b\u4f4e\u4e0b\u300d\u3068\u660e\u793a<\/strong>\u3057\u3001\u300cPC\u5e02\u5834\u306b\u8edf\u5316\u306e\u5146\u3057\u304c\u898b\u3048\u305f\u305f\u3081\u3001\u9650\u3089\u308c\u305f\u90e8\u54c1\uff08DRAM\u30fbNAND\uff09\u3092PC\u304b\u3089\u30a4\u30f3\u30d5\u30e9\u4e8b\u696d\u306b\u632f\u308a\u5411\u3051\u305f\u300d\u3068\u8aac\u660e\u3057\u3066\u3044\u307e\u3059\u3002<strong>PC\u306f\u610f\u56f3\u7684\u306b\u6210\u9577\u3092\u6291\u3048\u3066\u3001\u90e8\u54c1\u3092AI\u30b5\u30fc\u30d0\u30fc\u306b\u56de\u3057\u3066\u3044\u308b<\/strong>\u69cb\u56f3\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\">5. \u901a\u671f\u30ac\u30a4\u30c0\u30f3\u30b9\uff1a\u534a\u5e74\u30673\u56de\u76ee\u306e\u4e0a\u65b9\u4fee\u6b63\u3092\u5206\u89e3\u3059\u308b<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">5-1. \u4fee\u6b63\u306e\u63a8\u79fb<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u767a\u8868\u6642\u671f<\/th><th>\u901a\u671f\u58f2\u4e0a<\/th><th>AI\u30b5\u30fc\u30d0\u30fc\u58f2\u4e0a<\/th><th>\u975eGAAP EPS<\/th><th>GAAP EPS<\/th><\/tr><\/thead><tbody><tr><td>2026\u5e742\u6708\uff08\u671f\u521d\uff09<\/td><td>1,400\u5104\u30c9\u30eb<\/td><td>\u7d04500\u5104\u30c9\u30eb<\/td><td>12.90\u30c9\u30eb<\/td><td>11.52\u30c9\u30eb<\/td><\/tr><tr><td>2026\u5e745\u6708\uff08\u7b2c1\u56db\u534a\u671f\uff09<\/td><td>1,670\u5104\u30c9\u30eb<\/td><td>\u7d04600\u5104\u30c9\u30eb<\/td><td>17.90\u30c9\u30eb<\/td><td>17.31\u30c9\u30eb<\/td><\/tr><tr><td><strong>2026\u5e749\u6708\uff08\u7b2c2\u56db\u534a\u671f\uff09<\/strong><\/td><td><strong>1,920\u5104\u30c9\u30eb<\/strong><\/td><td><strong>\u7d04740\u5104\u30c9\u30eb<\/strong><\/td><td><strong>25.50\u30c9\u30eb<\/strong><\/td><td><strong>24.37\u30c9\u30eb<\/strong><\/td><\/tr><tr><td>\u671f\u521d\u304b\u3089\u306e\u4e0a\u4e57\u305b<\/td><td>+520\u5104\u30c9\u30eb<\/td><td>+240\u5104\u30c9\u30eb<\/td><td>\u7d042\u500d<\/td><td>\u7d042.1\u500d<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u51fa\u5178\uff1a\u5404\u56de\u306e\u6c7a\u7b97\u30ea\u30ea\u30fc\u30b9\u3002\u524d\u671f\u306e\u58f2\u4e0a1,135\u5104\u30c9\u30eb\u306b\u5bfe\u3057\u3001\u671f\u521d\u4e88\u60f3\u306f+23%\u3001\u4eca\u56de\u306f+69%\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u671f\u521d\u304b\u3089\u534a\u5e74\u3067\u3001\u58f2\u4e0a\u4e88\u60f3\u3092520\u5104\u30c9\u30eb\u5f15\u304d\u4e0a\u3052\u3066\u3044\u307e\u3059\u3002\u3053\u306e520\u5104\u30c9\u30eb\u306f<strong>2024\u5e741\u6708\u671f\u306e\u4f1a\u793e\u5168\u4f53\u306e\u58f2\u4e0a\uff08884\u5104\u30c9\u30eb\uff09\u306e6\u5272<\/strong>\u306b\u76f8\u5f53\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">5-2. \u4e0b\u534a\u671f\u306e\u4e2d\u8eab<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u9805\u76ee<\/th><th>\u4e0a\u534a\u671f\u5b9f\u7e3e<\/th><th>\u4e0b\u534a\u671f\uff08\u4f1a\u793e\u4e88\u60f3\u304b\u3089\u9006\u7b97\uff09<\/th><th>\u524d\u5e74\u4e0b\u534a\u671f<\/th><th>\u4e0b\u534a\u671f\u306e\u524d\u5e74\u6bd4<\/th><\/tr><\/thead><tbody><tr><td>\u58f2\u4e0a<\/td><td>908\u5104\u30c9\u30eb<\/td><td>1,012\u5104\u30c9\u30eb<\/td><td>604\u5104\u30c9\u30eb<\/td><td>+68%<\/td><\/tr><tr><td>\u3046\u3061\u7b2c3\u56db\u534a\u671f<\/td><td>\u2015<\/td><td>490\u5104\u30c9\u30eb<\/td><td>\u2015<\/td><td>+81%<\/td><\/tr><tr><td>\u3046\u3061\u7b2c4\u56db\u534a\u671f\uff08\u9006\u7b97\uff09<\/td><td>\u2015<\/td><td>522\u5104\u30c9\u30eb<\/td><td>\u2015<\/td><td>\u2015<\/td><\/tr><tr><td>AI\u30b5\u30fc\u30d0\u30fc\u58f2\u4e0a<\/td><td>325\u5104\u30c9\u30eb<\/td><td>415\u5104\u30c9\u30eb<\/td><td>\u2015<\/td><td>\u2015<\/td><\/tr><tr><td>\u3046\u3061\u7b2c3\u56db\u534a\u671f<\/td><td>\u2015<\/td><td>190\u5104\u30c9\u30eb<\/td><td>\u2015<\/td><td>\u2015<\/td><\/tr><tr><td>\u3046\u3061\u7b2c4\u56db\u534a\u671f\uff08\u9006\u7b97\uff09<\/td><td>\u2015<\/td><td>225\u5104\u30c9\u30eb<\/td><td>\u2015<\/td><td>\u2015<\/td><\/tr><tr><td>\u975eGAAP EPS<\/td><td>11.90\u30c9\u30eb<\/td><td>13.60\u30c9\u30eb<\/td><td>\u2015<\/td><td>\u2015<\/td><\/tr><tr><td>\u3046\u3061\u7b2c3\u56db\u534a\u671f<\/td><td>\u2015<\/td><td>6.50\u30c9\u30eb<\/td><td>\u2015<\/td><td>+151%<\/td><\/tr><tr><td>\u3046\u3061\u7b2c4\u56db\u534a\u671f\uff08\u9006\u7b97\uff09<\/td><td>\u2015<\/td><td>7.10\u30c9\u30eb<\/td><td>\u2015<\/td><td>\u2015<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u7b46\u8005\u306e\u6982\u7b97\u3002\u4f1a\u793e\u306f\u4e0a\u534a\u671f+71%\u3001\u4e0b\u534a\u671f+68%\u3068\u8aac\u660e\u3057\u3066\u304a\u308a\u3001\u8a08\u7b97\u3068\u4e00\u81f4\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u8868\u306e\u30dd\u30a4\u30f3\u30c8\u306f\u3001<strong>\u7b2c4\u56db\u534a\u671f\u306e\u58f2\u4e0a522\u5104\u30c9\u30eb\u30fbEPS7.10\u30c9\u30eb\u3068\u3044\u3046\u3001\u904e\u53bb\u6700\u9ad8\u3060\u3063\u305f\u4eca\u56de\uff08470\u5104\u30c9\u30eb\u30fb7.04\u30c9\u30eb\uff09\u3092\u3055\u3089\u306b\u4e0a\u56de\u308b\u56db\u534a\u671f\u3092\u3001\u4f1a\u793e\u304c\u524d\u63d0\u306b\u3057\u3066\u3044\u308b<\/strong>\u3053\u3068\u3067\u3059\u3002\u524d\u63d0\u304c\u5d29\u308c\u308b\u3068\u3059\u308c\u3070\u300c\u90e8\u54c1\u304c\u5165\u3089\u306a\u3044\u300d\u300c\u9867\u5ba2\u306e\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\u304c\u53d7\u3051\u5165\u308c\u6e96\u5099\u3067\u304d\u3066\u3044\u306a\u3044\u300d\u306e2\u70b9\u3067\u3001\u3069\u3061\u3089\u3082\u9700\u8981\u3067\u306f\u306a\u304f\u4f9b\u7d66\u5074\u306e\u554f\u984c\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">5-3. \u5229\u76ca\u7387\u306e\u524d\u63d0<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">CFO\u306f\u901a\u671f\u306e\u55b6\u696d\u8cbb\u7528\u3092\u300c\u58f2\u4e0a\u306e\u7d048%\u300142\u5e74\u306e\u793e\u53f2\u3067\u6700\u4f4e\u300d\u3068\u8ff0\u3079\u3001ISG\u306e\u5229\u76ca\u7387\u306f\u4e0b\u534a\u671f\u306b\u524d\u5e74\u6bd41\u30dd\u30a4\u30f3\u30c8\u8d85\u306e\u6539\u5584\u3092\u898b\u8fbc\u3093\u3067\u3044\u307e\u3059\u3002\u4e00\u65b9\u3067\u3001\u7b2c2\u56db\u534a\u671f\u306eISG\u5229\u76ca\u738715%\u306b\u3064\u3044\u3066\u306f\u300c\u9700\u8981\u30fb\u30df\u30c3\u30af\u30b9\u30fb\u4fa1\u683c\u304c\u3059\u3079\u3066\u8ffd\u3044\u98a8\u306b\u5411\u3044\u305f\u56db\u534a\u671f\u3067\u3001<strong>\u3059\u3079\u3066\u306e\u8981\u56e0\u304c\u3053\u306e\u6c34\u6e96\u3067\u7d9a\u304f\u3068\u306f\u60f3\u5b9a\u3057\u3066\u3044\u306a\u3044<\/strong>\u300d\u3068\u3082\u8ff0\u3079\u3066\u3044\u307e\u3059\u3002<strong>\u300c\u4e00\u904e\u6027\u306e\u8ffd\u3044\u98a8\u304c\u3042\u308b\u300d\u3068\u4f1a\u793e\u81ea\u8eab\u304c\u8a00\u3063\u3066\u3044\u308b\u70b9<\/strong>\u306f\u3001EPS\u4e88\u60f325.50\u30c9\u30eb\u3092\u898b\u308b\u3068\u304d\u306b\u982d\u306b\u7f6e\u3044\u3066\u304a\u304f\u3079\u304d\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. \u8cc7\u672c\u653f\u7b56\u3068\u682a\u4e3b\u9084\u5143<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">6-1. \u914d\u5f53<\/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>\u56db\u534a\u671f\u914d\u5f53<\/td><td>1\u682a0.63\u30c9\u30eb\uff08\u5e74\u95932.52\u30c9\u30eb\uff09<\/td><\/tr><tr><td>\u524d\u671f\u6bd4<\/td><td>+20%\uff082.10\u30c9\u30eb\u21922.52\u30c9\u30eb\u30022026\u5e742\u6708\u306b\u5897\u914d\u767a\u8868\uff09<\/td><\/tr><tr><td>\u76f4\u8fd1\u306e\u6a29\u5229\u78ba\u5b9a\u65e5<\/td><td>2026\u5e7410\u670820\u65e5\uff08\u706b\uff09\u3002\u652f\u6255\u65e5\u306f10\u670830\u65e5<\/td><\/tr><tr><td>\u914d\u5f53\u6027\u5411\uff08\u4f1a\u793e\u4e88\u60f3EPS 25.50\u30c9\u30eb\u306b\u5bfe\u3057\u3066\uff09<\/td><td>9.9%\uff08\u7b46\u8005\u306e\u6982\u7b97\uff09<\/td><\/tr><tr><td>\u914d\u5f53\u5229\u56de\u308a\uff08\u682a\u4fa1492\u30c9\u30eb\uff09<\/td><td>0.51%\uff08\u7b46\u8005\u306e\u6982\u7b97\u30fb\u5831\u9053\u30d9\u30fc\u30b9\u306e\u682a\u4fa1\uff09<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u914d\u5f53\u306f\u904e\u53bb3\u5e74\u3001\u6bce\u5e7420%\u305a\u3064\u5897\u914d\u3057\u3066\u304d\u307e\u3057\u305f\uff081.48\u21921.78\u21922.10\u21922.52\u30c9\u30eb\uff09\u3002\u305f\u3060\u3057\u5229\u76ca\u306b\u5bfe\u3059\u308b\u914d\u5f53\u306e\u5272\u5408\u306f1\u5272\u7a0b\u5ea6\u3067\u3001<strong>\u682a\u4e3b\u9084\u5143\u306e\u4e3b\u5f79\u306f\u914d\u5f53\u3067\u306f\u306a\u304f\u81ea\u793e\u682a\u8cb7\u3044<\/strong>\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7c73\u56fd\u682a\u306e\u914d\u5f53\u306f\u56db\u534a\u671f\u3054\u3068\u306b\u652f\u6255\u308f\u308c\u3001\u6a29\u5229\u78ba\u5b9a\u65e5\uff08record date\uff09\u306e\u524d\u306b\u682a\u3092\u4fdd\u6709\u3057\u3066\u3044\u308b\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002\u7c73\u56fd\u682a\u306f2024\u5e74\u4ee5\u964dT+1\u6c7a\u6e08\uff08\u7d04\u5b9a\u306e\u7fcc\u55b6\u696d\u65e5\u306b\u53d7\u3051\u6e21\u3057\uff09\u306e\u305f\u3081\u3001\u6a29\u5229\u843d\u3061\u65e5\u306f\u6a29\u5229\u78ba\u5b9a\u65e5\u3068\u540c\u65e5\u306b\u306a\u308b\u306e\u304c\u901a\u4f8b\u3067\u3059\u304c\u3001<strong>\u8a3c\u5238\u4f1a\u793e\u306b\u3088\u3063\u3066\u56fd\u5185\u306e\u53d7\u4ed8\u7de0\u5207\u304c\u7570\u306a\u308a\u307e\u3059<\/strong>\u3002\u5b9f\u969b\u306e\u7de0\u5207\u306f\u5229\u7528\u3059\u308b\u8a3c\u5238\u4f1a\u793e\u3067\u78ba\u8a8d\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">6-2. \u81ea\u793e\u682a\u8cb7\u3044<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u9805\u76ee<\/th><th>\u7b2c2\u56db\u534a\u671f<\/th><th>\u4e0a\u534a\u671f<\/th><th>\u524d\u671f\uff08FY26\u901a\u671f\uff09<\/th><\/tr><\/thead><tbody><tr><td>\u81ea\u793e\u682a\u8cb7\u3044\uff08CF\u8a08\u4e0a\u984d\uff09<\/td><td>38.0\u5104\u30c9\u30eb<\/td><td>54.2\u5104\u30c9\u30eb<\/td><td>60.1\u5104\u30c9\u30eb<\/td><\/tr><tr><td>\u53d6\u5f97\u682a\u6570\u30fb\u5e73\u5747\u5358\u4fa1<\/td><td>950\u4e07\u682a\u30fb401\u30c9\u30eb<\/td><td>\u2015<\/td><td>\u7d045,400\u4e07\u682a<\/td><\/tr><tr><td>\u914d\u5f53\u652f\u6255\u3044<\/td><td>4.1\u5104\u30c9\u30eb<\/td><td>8.7\u5104\u30c9\u30eb<\/td><td>14.6\u5104\u30c9\u30eb<\/td><\/tr><tr><td>\u9084\u5143\u5408\u8a08<\/td><td>42.0\u5104\u30c9\u30eb\uff08\u4f1a\u793e\u767a\u8868\uff1a\u7d0443\u5104\u30c9\u30eb\uff09<\/td><td>62.9\u5104\u30c9\u30eb<\/td><td>74.7\u5104\u30c9\u30eb\uff08\u4f1a\u793e\u767a\u8868\uff1a75\u5104\u30c9\u30eb\uff09<\/td><\/tr><tr><td>\u7d14\u5229\u76ca<\/td><td>41.3\u5104\u30c9\u30eb<\/td><td>75.7\u5104\u30c9\u30eb<\/td><td>59.4\u5104\u30c9\u30eb<\/td><\/tr><tr><td><strong>\u7dcf\u9084\u5143\u6027\u5411<\/strong><\/td><td><strong>\u7d04100%<\/strong><\/td><td><strong>83%<\/strong><\/td><td><strong>126%<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u7b46\u8005\u306e\u6982\u7b97\u3002\u4f1a\u793e\u767a\u8868\u984d\u3068CF\u8a08\u4e0a\u984d\u306e\u5dee\u306f\u3001\u6c7a\u6e08\u30bf\u30a4\u30df\u30f3\u30b0\u306e\u9055\u3044\u3068\u8003\u3048\u3089\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7b2c2\u56db\u534a\u671f\u306e\u81ea\u793e\u682a\u8cb7\u304438\u5104\u30c9\u30eb\u306f\u3001\u524d\u56db\u534a\u671f\uff0816\u5104\u30c9\u30eb\uff09\u306e2.3\u500d\u3001<strong>\u793e\u53f2\u4e0a\u306e\u3069\u306e\u56db\u534a\u671f\u306e\u7d042\u500d<\/strong>\uff08CFO\u767a\u8a00\uff09\u3067\u3059\u30022026\u5e742\u6708\u306b\u306f\u81ea\u793e\u682a\u8cb7\u3044\u67a0\u3092100\u5104\u30c9\u30eb\u8ffd\u52a0\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u898b\u308b\u3079\u304d\u70b9<\/strong>\uff1a<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>\u4e0a\u534a\u671f\u306e\u9084\u5143\u6027\u541183%\u306f\u3001\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\uff0841\u5104\u30c9\u30eb\uff09\u3092\u4e0a\u56de\u3063\u3066\u3044\u308b\u3002<\/strong> \u5dee\u984d\u306f\u501f\u5165\u3067\u8cc4\u308f\u308c\u3066\u3044\u307e\u3059\u3002\u4f1a\u793e\u306f\u300c\u30b3\u30a2\u30fb\u30ec\u30d0\u30ec\u30c3\u30b8\u6bd4\u73870.8\u500d\u300d\u300c\u683c\u4ed8\u3051\u6a5f\u95a2\u304b\u3089\u524d\u5411\u304d\u306a\u8a55\u4fa1\u300d\u3068\u8ca1\u52d9\u306e\u5065\u5168\u6027\u3092\u5f37\u8abf\u3057\u3066\u3044\u307e\u3059\u304c\u3001\u91d1\u878d\u50b5\u6a29\u306e\u81a8\u5f35\u3068\u81ea\u793e\u682a\u8cb7\u3044\u306e\u52a0\u901f\u304c\u540c\u6642\u306b\u8d77\u304d\u3066\u3044\u308b\u70b9\u306f\u30012\u3064\u5408\u308f\u305b\u3066\u898b\u308b\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u682a\u6570\u524a\u6e1b\u52b9\u679c<\/strong>\uff1a950\u4e07\u682a\u306e\u53d6\u5f97\u306f\u5e0c\u8584\u5316\u5f8c\u682a\u5f0f\u65706.52\u5104\u682a\u306e1.5%\u3002\u56db\u534a\u671f\u30671.5%\u306a\u3089\u5e74\u73876%\u306e\u30da\u30fc\u30b9\u3067\u3001EPS\u306e\u62bc\u3057\u4e0a\u3052\u8981\u56e0\u306b\u306a\u308a\u307e\u3059\u3002\u305f\u3060\u3057\u4f1a\u793e\u306f\u7b2c3\u56db\u534a\u671f\u306e\u682a\u6570\u30926.51\u5104\u682a\u3068\u3001\u4eca\u56de\u3068\u307b\u307c\u540c\u3058\u6c34\u6e96\u3092\u60f3\u5b9a\u3057\u3066\u3044\u307e\u3059\uff08\u682a\u5f0f\u5831\u916c\u306b\u3088\u308b\u767a\u884c\u3068\u306e\u5dee\u3057\u5f15\u304d\uff09\u3002<\/li>\n\n\n\n<li><strong>\u5e73\u5747\u53d6\u5f97\u5358\u4fa1401\u30c9\u30eb<\/strong>\u306b\u5bfe\u3057\u3001\u6c7a\u7b97\u5f8c\u306e\u682a\u4fa1\u306f492\u30c9\u30eb\uff08\u5831\u9053\u30d9\u30fc\u30b9\uff09\u3002\u4f1a\u793e\u306e\u8cb7\u5024\u3088\u308a2\u5272\u9ad8\u3044\u6c34\u6e96\u3067\u682a\u304c\u53d6\u5f15\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\">6-3. \u682a\u5f0f\u5206\u5272\u30fb\u4f75\u5408<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u8a72\u5f53\u306a\u3057\u3002\u904e\u53bb\u306e\u6c7a\u7b97\u3068\u6bd4\u8f03\u3059\u308b\u3068\u304d\u306eEPS\u30fb\u914d\u5f53\u306e\u8abf\u6574\u306f\u4e0d\u8981\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">6-4. \u6295\u8cc7\u306e\u8a55\u4fa1\u76ca\uff08GAAP\u3068non-GAAP\u306e\u5dee\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e0a\u534a\u671f\u306eGAAP\u7d14\u5229\u76ca75.7\u5104\u30c9\u30eb\u306b\u306f\u3001<strong>\u4fdd\u6709\u3059\u308b\u682a\u5f0f\u6295\u8cc7\u306e\u516c\u6b63\u4fa1\u5024\u8a55\u4fa1\u76ca7.0\u5104\u30c9\u30eb<\/strong>\uff08\u7a0e\u5f15\u524d\uff09\u304c\u542b\u307e\u308c\u3066\u3044\u307e\u3059\u3002\u7d14\u5229\u76ca\u306e9%\u3001EPS\u306b\u3057\u30661.08\u30c9\u30eb\u3067\u3059\u3002\u7b2c2\u56db\u534a\u671f\u5358\u4f53\u3067\u306f0.7\u5104\u30c9\u30eb\u3068\u5c0f\u3055\u3044\u306e\u3067\u3001\u7b2c1\u56db\u534a\u671f\u306b\u96c6\u4e2d\u3057\u3066\u3044\u305f\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002\u3069\u306e\u6295\u8cc7\u5148\u304b\u306f\u6c7a\u7b97\u30ea\u30ea\u30fc\u30b9\u304b\u3089\u306f\u5206\u304b\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u8a55\u4fa1\u76ca\u306f\u975eGAAP\u5229\u76ca\u304b\u3089\u306f\u9664\u304b\u308c\u3066\u3044\u307e\u3059\u3002<strong>\u901a\u671fGAAP EPS\u4e88\u60f324.37\u30c9\u30eb\u306b\u3082\u3053\u306e1.08\u30c9\u30eb\u304c\u542b\u307e\u308c\u3066\u3044\u308b<\/strong>\u306e\u3067\u3001\u300cGAAP\u3067\u898b\u305f\u5229\u76ca\u6210\u9577181%\u300d\u306e\u3046\u3061\u4e00\u90e8\u306f\u6295\u8cc7\u8a55\u4fa1\u76ca\u306b\u3088\u308b\u3082\u306e\u3067\u3059\u3002\u672c\u696d\u306e\u5b9f\u529b\u306f\u975eGAAP\u306e25.50\u30c9\u30eb\uff08+148%\uff09\u3067\u898b\u308b\u307b\u3046\u304c\u3001\u3053\u306e\u70b9\u306b\u95a2\u3057\u3066\u306f\u4fdd\u5b88\u7684\u3067\u3059\u3002\u4f1a\u793e\u306f\u300c\u4eca\u5f8c\u306e\u8a55\u4fa1\u640d\u76ca\u306f\u4e88\u60f3\u306b\u7e54\u308a\u8fbc\u307e\u306a\u3044\u300d\u3068\u6ce8\u8a18\u3057\u3066\u304a\u308a\u3001\u4e0b\u534a\u671f\u306b\u8a55\u4fa1\u640d\u304c\u51fa\u308c\u3070GAAP EPS\u306f\u4e88\u60f3\u3092\u4e0b\u56de\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">6-5. \u5927\u682a\u4e3b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30c7\u30eb\u306f\u5275\u696d\u8005\u30de\u30a4\u30b1\u30eb\u30fb\u30c7\u30eb\u6c0f\u304c\u4f1a\u9577\u517cCEO\u3092\u52d9\u3081\u3001\u5927\u682a\u4e3b\u3067\u3082\u3042\u308a\u307e\u3059\u3002\u6c7a\u7b97\u30ea\u30ea\u30fc\u30b9\u306e\u30ea\u30b9\u30af\u8981\u56e0\u306b\u3082\u300c\u30de\u30a4\u30b1\u30eb\u30fb\u30c7\u30eb\u304a\u3088\u3073\u4e3b\u8981\u5e79\u90e8\u3078\u306e\u4f9d\u5b58\u300d\u304c\u660e\u8a18\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u8b70\u6c7a\u6a29\u6bd4\u7387\u306a\u3069\u8a73\u7d30\u306f\u672c\u8a18\u4e8b\u3067\u306f\u78ba\u8a8d\u3057\u3066\u3044\u307e\u305b\u3093\uff08\u59d4\u4efb\u72b6\u8aac\u660e\u66f8\uff1dForm DEF 14A\u306b\u8a18\u8f09\u304c\u3042\u308a\u307e\u3059\uff09\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. \u682a\u4fa1\u306e\u898b\u65b9<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">7-1. \u682a\u4fa1\u306e\u4f4d\u7f6e\uff08\u5831\u9053\u30d9\u30fc\u30b9\u30fb\u8981\u78ba\u8a8d\uff09<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u9805\u76ee<\/th><th>\u6570\u5024<\/th><\/tr><\/thead><tbody><tr><td>\u6c7a\u7b97\u767a\u8868\u524d\u65e5\uff089\u67081\u65e5\uff09\u7d42\u5024<\/td><td>\u7d04425\u30c9\u30eb\uff089\u67082\u65e5\u7d42\u5024\u3068\u9a30\u843d\u7387\u304b\u3089\u9006\u7b97\uff09<\/td><\/tr><tr><td>\u6c7a\u7b97\u7fcc\u65e5\uff089\u67082\u65e5\uff09\u7d42\u5024<\/td><td>492.00\u30c9\u30eb\uff08+15.76%\uff09<\/td><\/tr><tr><td>9\u67082\u65e5\u306e\u5024\u5e45<\/td><td>\u5b89\u5024432.27\u30c9\u30eb\u301c\u9ad8\u5024497.99\u30c9\u30eb<\/td><\/tr><tr><td>52\u9031\u30ec\u30f3\u30b8<\/td><td>110.22\u301c514.00\u30c9\u30eb<\/td><\/tr><tr><td>\u5e74\u521d\u6765<\/td><td>+238%\uff08\u6c7a\u7b97\u524d\u6642\u70b9\u30fb\u5831\u9053\uff09<\/td><\/tr><tr><td>\u6642\u4fa1\u7dcf\u984d<\/td><td>\u7d043,170\u5104\u30c9\u30eb\uff08\u57fa\u672c\u682a\u5f0f\u65706.45\u5104\u682a\u00d7492\u30c9\u30eb\u3001\u7b46\u8005\u306e\u6982\u7b97\uff09<\/td><\/tr><tr><td>\u5186\u63db\u7b97\uff081\u30c9\u30eb\uff1d160\u5186\uff09<\/td><td>1\u682a\u7d0478,700\u5186\u3001\u6642\u4fa1\u7dcf\u984d\u7d0450.7\u5146\u5186\uff08\u7b46\u8005\u306e\u6982\u7b97\uff09<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u51fa\u5178\uff1a\u682a\u4fa1\u306f9\u67082\u65e5\u4ed8\u306e\u5831\u9053\uff08The Motley Fool\u3001Robinhood\u306e\u682a\u4fa1\u30da\u30fc\u30b8\uff09\u3002\u6570\u5024\u306f\u8a3c\u5238\u4f1a\u793e\u306e\u30c4\u30fc\u30eb\u3067\u78ba\u8a8d\u306e\u3046\u3048\u5dee\u3057\u66ff\u3048\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>PER\u306e\u8a08\u7b97\uff08\u7b46\u8005\u306e\u6982\u7b97\u30fb\u682a\u4fa1492\u30c9\u30eb\uff09<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u5206\u6bcd<\/th><th>PER<\/th><\/tr><\/thead><tbody><tr><td>\u4eca\u671f\u4f1a\u793e\u4e88\u60f3 \u975eGAAP EPS 25.50\u30c9\u30eb<\/td><td>19.3\u500d<\/td><\/tr><tr><td>\u4eca\u671f\u4f1a\u793e\u4e88\u60f3 GAAP EPS 24.37\u30c9\u30eb<\/td><td>20.2\u500d<\/td><\/tr><tr><td>\u524d\u671f\u5b9f\u7e3e \u975eGAAP EPS 10.30\u30c9\u30eb<\/td><td>47.8\u500d<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u540c\u3058\u682a\u4fa1\u3067\u3082\u3001\u524d\u671f\u5b9f\u7e3e\u3067\u898b\u308c\u307048\u500d\u3001\u4eca\u671f\u4e88\u60f3\u3067\u898b\u308c\u307019\u500d\u3067\u3059\u3002<strong>\u3053\u306e\u5dee\u304c\u305d\u306e\u307e\u307e\u300c\u4eca\u671f\u306e\u5229\u76ca\u304c\u6765\u671f\u4ee5\u964d\u3082\u7d9a\u304f\u3068\u4fe1\u3058\u308b\u304b\u3069\u3046\u304b\u300d\u306e\u5206\u304b\u308c\u76ee<\/strong>\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">7-2. \u5f37\u6c17\u6750\u6599\uff08\u3053\u3046\u898b\u308b\u4eba\u304c\u3044\u308b\uff09<\/h3>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>\u53d7\u6ce8\u6b8b950\u5104\u30c9\u30eb\u304c\u53ef\u8996\u6027\u3092\u4e0e\u3048\u3066\u3044\u308b\u3002<\/strong> 4-1\u306e\u8a08\u7b97\u3069\u304a\u308a\u3001\u4eca\u671f\u306e\u6b8b\u308a\u3092\u5168\u90e8\u6d88\u5316\u3057\u3066\u3082\u6765\u671f\u306b500\u5104\u30c9\u30eb\u8d85\u3092\u6301\u3061\u8d8a\u3057\u307e\u3059\u3002\u300c\u6765\u671f\u306e\u58f2\u4e0a\u306f\u3059\u3067\u306b\u534a\u5206\u898b\u3048\u3066\u3044\u308b\u300d\u3068\u3044\u3046\u898b\u65b9\u304c\u6210\u308a\u7acb\u3061\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u6210\u9577\u304cAI\u30b5\u30fc\u30d0\u30fc\u4ee5\u5916\u306b\u3082\u5e83\u304c\u3063\u305f\u3002<\/strong> \u5f93\u6765\u578b\u30b5\u30fc\u30d0\u30fc+122%\u3001\u30b9\u30c8\u30ec\u30fc\u30b8+26%\u3001PC+20%\u3002\u5229\u76ca\u7387\u306e\u9ad8\u3044\u30b9\u30c8\u30ec\u30fc\u30b8\u304c\u4f38\u3073\u305f\u3053\u3068\u3067\u3001AI\u30b5\u30fc\u30d0\u30fc\u306e\u4f4e\u5229\u76ca\u7387\u3092\u76f8\u6bba\u3057\u3066\u3044\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u898f\u6a21\u306e\u5229\u76ca\u304c\u52b9\u3044\u3066\u3044\u308b\u3002<\/strong> \u55b6\u696d\u8cbb\u7528\u306e\u5bfe\u58f2\u4e0a\u6bd4\u73879.5%\uff08\u524d\u5e7412.3%\uff09\u3002\u58f2\u4e0a\u304c\u4f38\u3073\u3066\u3082\u8cbb\u7528\u304c\u4f38\u3073\u306a\u3044\u69cb\u9020\u3067\u3001EPS\u306f\u58f2\u4e0a\u4ee5\u4e0a\u306b\u4f38\u3073\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u4eca\u671f\u4e88\u60f3PER19\u500d\u306f\u3001\u6210\u9577\u7387\uff08+148%\uff09\u306b\u5bfe\u3057\u3066\u4f4e\u304f\u898b\u3048\u308b\u3002<\/strong> \u305f\u3060\u3057\u3053\u308c\u306f\u300c\u4eca\u671f\u306e\u5229\u76ca\u304c\u7d9a\u304f\u300d\u524d\u63d0\u3067\u3059\u3002<\/li>\n\n\n\n<li><strong>1-1\u306e\u4f8b\u3048\u306b\u623b\u308b\u3068\u3001<\/strong>\u300c\u6a5f\u5668\u3092\u7528\u610f\u3057\u3066\u3001\u7f6e\u3044\u3066\u3001\u9762\u5012\u3092\u898b\u3066\u3001\u652f\u6255\u3044\u3082\u5f85\u3063\u3066\u3042\u3052\u308b\u300d\u3092\u4e38\u3054\u3068\u3067\u304d\u308b\u4f1a\u793e\u306f\u591a\u304f\u3042\u308a\u307e\u305b\u3093\u3002\u4f1a\u793e\u306f\u300c50\u901a\u308a\u306e\u8a2d\u8a08\u3092\u6c42\u3081\u308b\u9867\u5ba2\u3082\u3044\u308b\u300d\u300c\u6ce8\u6587\u304b\u3089\u6700\u521d\u306e\u30c8\u30fc\u30af\u30f3\u307e\u3067\u306e\u6642\u9593\u304c\u6700\u77ed\u300d\u3068\u3001\u8a2d\u8a08\u30fb\u8a2d\u7f6e\u30fb\u91d1\u878d\u306e\u4e00\u4f53\u63d0\u4f9b\u3092\u5dee\u5225\u5316\u3068\u3057\u3066\u7e70\u308a\u8fd4\u3057\u3066\u3044\u307e\u3059\u3002<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\">7-3. \u5f31\u6c17\u6750\u6599\uff08\u3053\u3046\u898b\u308b\u4eba\u3082\u3044\u308b\uff09<\/h3>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>\u55b6\u696dCF\u304c\u6e1b\u3063\u3066\u3044\u308b\u3002<\/strong> \u7d14\u5229\u76ca3.6\u500d\u3067\u55b6\u696dCF\u25b213%\u30023\u7ae0\u306e\u3068\u304a\u308a\u3001\u5728\u5eab\u3068\u91d1\u878d\u50b5\u6a29\u306b\u73fe\u91d1\u304c\u5438\u308f\u308c\u3066\u3044\u307e\u3059\u3002\u300c\u8abf\u6574\u5f8cFCF+224%\u300d\u3092\u984d\u9762\u3069\u304a\u308a\u306b\u53d7\u3051\u53d6\u308b\u3068\u898b\u8aa4\u308a\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u9867\u5ba2\u3078\u306e\u878d\u8cc7\u304c\u81a8\u3089\u3093\u3067\u3044\u308b\u3002<\/strong> \u91d1\u878d\u50b5\u6a29\u304c\u534a\u5e74\u306762\u5104\u30c9\u30eb\u5897\u3002\u8cb8\u3057\u5148\u306e\u4fe1\u7528\u529b\u306f\u958b\u793a\u3055\u308c\u3066\u3044\u307e\u305b\u3093\u3002AI\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\u4e8b\u696d\u8005\u306e\u8cc7\u91d1\u8abf\u9054\u74b0\u5883\u304c\u60aa\u5316\u3059\u308c\u3070\u3001\u9700\u8981\u6e1b\u3068\u8cb8\u5012\u308c\u304c\u540c\u6642\u306b\u6765\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002<strong>1-1\u306e\u4f8b\u3048\u306e\u88cf\u9762<\/strong>\u3067\u3059\u3002\u300c\u4e38\u3054\u3068\u5f15\u304d\u53d7\u3051\u308b\u300d\u3068\u3044\u3046\u3053\u3068\u306f\u3001\u300c\u9867\u5ba2\u304c\u6255\u3048\u306a\u304f\u306a\u3063\u305f\u3068\u304d\u306e\u30ea\u30b9\u30af\u3082\u5f15\u304d\u53d7\u3051\u308b\u300d\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002<\/li>\n\n\n\n<li><strong>\u5229\u76ca\u7387\u306e\u8ffd\u3044\u98a8\u306f\u4e00\u904e\u6027\u3092\u542b\u3080\u3002<\/strong> CFO\u81ea\u8eab\u304c\u300c\u3059\u3079\u3066\u306e\u8981\u56e0\u304c\u3053\u306e\u6c34\u6e96\u3067\u7d9a\u304f\u3068\u306f\u60f3\u5b9a\u3057\u3066\u3044\u306a\u3044\u300d\u3068\u8a00\u3063\u3066\u3044\u307e\u3059\u3002DRAM\u30fbNAND\u306e\u5024\u4e0a\u304c\u308a\u304c\u58f2\u4e0a\u3068\u5229\u76ca\u7387\u3092\u62bc\u3057\u4e0a\u3052\u3066\u3044\u308b\u9762\u304c\u3042\u308a\u3001\u90e8\u54c1\u4fa1\u683c\u304c\u53cd\u8ee2\u3059\u308c\u3070\u9006\u56de\u8ee2\u3057\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u4f9b\u7d66\u5236\u7d04\u3002<\/strong> \u53d7\u6ce8\u6b8b\u304c\u7a4d\u307f\u4e0a\u304c\u308b\u306e\u306f\u4f9b\u7d66\u304c\u8ffd\u3044\u3064\u304b\u306a\u3044\u304b\u3089\u3067\u3082\u3042\u308a\u3001\u7b2c4\u56db\u534a\u671f522\u5104\u30c9\u30eb\u3068\u3044\u3046\u524d\u63d0\u306f\u90e8\u54c1\u8abf\u9054\u6b21\u7b2c\u3067\u3059\u3002<\/li>\n\n\n\n<li><strong>\u81ea\u793e\u682a\u8cb7\u3044\u304c\u501f\u5165\u3067\u8cc4\u308f\u308c\u3066\u3044\u308b\u3002<\/strong> \u9084\u5143\u6027\u541183%\uff08\u4e0a\u534a\u671f\uff09\u306fFCF\u3092\u8d85\u3048\u3066\u304a\u308a\u3001\u682a\u4e3b\u8cc7\u672c\u306f\u30de\u30a4\u30ca\u30b9\u3002\u91d1\u5229\u4e0a\u6607\u5c40\u9762\u3067\u306f\u8ca0\u62c5\u306b\u306a\u308a\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u682a\u4fa1\u306f\u3059\u3067\u306b\u5e74\u521d\u67653\u500d\u8d85\u3002<\/strong> 52\u9031\u5b89\u5024110\u30c9\u30eb\u304b\u30894.5\u500d\u3002\u671f\u5f85\u306e\u7e54\u308a\u8fbc\u307f\u304c\u9032\u3093\u3067\u3044\u308b\u5206\u3001\u6b21\u306e\u6c7a\u7b97\u3067\u300c\u4e0a\u65b9\u4fee\u6b63\u304c\u306a\u3044\u300d\u3060\u3051\u3067\u5931\u671b\u58f2\u308a\u304c\u51fa\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u9867\u5ba2\u96c6\u4e2d\u306e\u53ef\u80fd\u6027\u3002<\/strong> \u53d7\u6ce8\u6b8b950\u5104\u30c9\u30eb\u306e\u9867\u5ba2\u5225\u5185\u8a33\u306f\u975e\u958b\u793a\u3002\u300c\u30cd\u30aa\u30af\u30e9\u30a6\u30c9\u300d\u5411\u3051\u306e\u5927\u53e3\u6848\u4ef6\u304c\u3069\u306e\u7a0b\u5ea6\u3092\u5360\u3081\u308b\u304b\u306f\u5206\u304b\u308a\u307e\u305b\u3093\u3002<\/li>\n<\/ol>\n\n\n\n<h3 class=\"wp-block-heading\">7-4. \u500b\u4eba\u7684\u306a\u6574\u7406<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u6c7a\u7b97\u306f\u300c\u58f2\u4e0a\u30fb\u5229\u76ca\u30fb\u53d7\u6ce8\u306e\u6570\u5b57\u306f\u6587\u53e5\u306a\u3057\u3001\u30ad\u30e3\u30c3\u30b7\u30e5\u3068\u8cb8\u501f\u5bfe\u7167\u8868\u306f\u8981\u6ce8\u610f\u300d\u306e2\u968e\u5efa\u3066\u3060\u3068\u898b\u3066\u3044\u307e\u3059\u3002\u682a\u4fa1\u304c\u3069\u3061\u3089\u3092\u898b\u3066\u52d5\u304f\u304b\u306f\u5c40\u9762\u6b21\u7b2c\u3067\u3001<strong>AI\u6295\u8cc7\u306e\u8cc7\u91d1\u8abf\u9054\u74b0\u5883\u304c\u826f\u3044\u9593\u306f\u524d\u8005\u3001\u60aa\u5316\u3059\u308c\u3070\u5f8c\u8005<\/strong>\u304c\u610f\u8b58\u3055\u308c\u3084\u3059\u3044\u3068\u8003\u3048\u307e\u3059\u3002\u6b21\u306e\u56db\u534a\u671f\u306b\u91d1\u878d\u50b5\u6a29\u304c\u6e1b\u308a\u59cb\u3081\u308c\u3070\u5f31\u6c17\u6750\u6599\u306e2\u756a\u306f\u8584\u308c\u3001\u3055\u3089\u306b\u5897\u3048\u308c\u3070\u91cd\u307f\u304c\u5897\u3057\u307e\u3059\u3002\u5224\u65ad\u306f\u8aad\u8005\u306b\u304a\u4efb\u305b\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\">8. \u4eca\u5f8c\u306e\u30ab\u30ec\u30f3\u30c0\u30fc\u3068\u898b\u308b\u3079\u304dKPI<\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u6642\u671f<\/th><th>\u30a4\u30d9\u30f3\u30c8<\/th><th>\u898b\u308b\u3079\u304d\u70b9<\/th><\/tr><\/thead><tbody><tr><td>2026\u5e7410\u6708<\/td><td>\u65b0\u4e16\u4ee3\u30b5\u30fc\u30d0\u30fc\u300c18G\u300d\u51fa\u8377\u958b\u59cb\uff08\u8aac\u660e\u4f1a\u767a\u8a00\uff09<\/td><td>\u5f93\u6765\u578b\u30b5\u30fc\u30d0\u30fc\u306e\u6210\u9577\u6301\u7d9a<\/td><\/tr><tr><td>2026\u5e7410\u670820\u65e5<\/td><td>\u914d\u5f53\u6a29\u5229\u78ba\u5b9a\u65e5\uff08\u652f\u6255\u65e510\u670830\u65e5\uff09<\/td><td>\u2015<\/td><\/tr><tr><td>2026\u5e7411\u6708\u4e0b\u65ec\uff08\u898b\u8fbc\u307f\uff09<\/td><td>\u7b2c3\u56db\u534a\u671f\u6c7a\u7b97\uff088\u301c10\u6708\u671f\uff09\u3002\u524d\u5e74\u306f11\u670825\u65e5\u767a\u8868<\/td><td>\u4e0b\u8a18KPI<\/td><\/tr><tr><td>2027\u5e741\u670829\u65e5<\/td><td>2027\u5e741\u6708\u671f \u6c7a\u7b97\u671f\u672b<\/td><td>\u2015<\/td><\/tr><tr><td>2027\u5e742\u6708\u4e0b\u65ec\uff08\u898b\u8fbc\u307f\uff09<\/td><td>\u901a\u671f\u6c7a\u7b97\u30fb\u6765\u671f\u30ac\u30a4\u30c0\u30f3\u30b9<\/td><td>\u6765\u671f\u306eAI\u30b5\u30fc\u30d0\u30fc\u58f2\u4e0a\u898b\u901a\u3057\u3001\u914d\u5f53\u65b9\u91dd<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u767a\u8868\u65e5\u306f\u672a\u78ba\u5b9a\u306e\u3082\u306e\u3092\u300c\u898b\u8fbc\u307f\u300d\u3068\u3057\u307e\u3057\u305f\u3002\u4f1a\u793eIR\u30b5\u30a4\u30c8\u3067\u78ba\u8a8d\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u7b2c3\u56db\u534a\u671f\u6c7a\u7b97\u3067\u898b\u308b\u3079\u304dKPI<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>KPI<\/th><th>\u4eca\u56de<\/th><th>\u4f1a\u793e\u306e\u7b2c3\u56db\u534a\u671f\u524d\u63d0<\/th><th>\u6ce8\u76ee\u70b9<\/th><\/tr><\/thead><tbody><tr><td>\u58f2\u4e0a\u9ad8<\/td><td>469.7\u5104\u30c9\u30eb<\/td><td>490\u5104\u30c9\u30eb\uff08+81%\uff09<\/td><td>\u9054\u6210\u3059\u308b\u304b\u30024\u56de\u76ee\u306e\u4e0a\u65b9\u4fee\u6b63\u304c\u3042\u308b\u304b<\/td><\/tr><tr><td>AI\u30b5\u30fc\u30d0\u30fc\u58f2\u4e0a<\/td><td>164\u5104\u30c9\u30eb<\/td><td>190\u5104\u30c9\u30eb<\/td><td>\u4f9b\u7d66\u5236\u7d04\u4e0b\u3067\u51fa\u8377\u3092\u5897\u3084\u305b\u308b\u304b<\/td><\/tr><tr><td>AI\u30b5\u30fc\u30d0\u30fc\u53d7\u6ce8\u9ad8\u30fb\u53d7\u6ce8\u6b8b<\/td><td>609\u5104\u30c9\u30eb\u30fb950\u5104\u30c9\u30eb<\/td><td>\u2015<\/td><td>\u53d7\u6ce8\u6b8b\u304c1,000\u5104\u30c9\u30eb\u3092\u8d85\u3048\u308b\u304b\u3002\u5f0f\u3067\u691c\u7b97\u3059\u308b<\/td><\/tr><tr><td>ISG\u5229\u76ca\u7387<\/td><td>15.0%<\/td><td>\u524d\u5e74\u6bd4+1pt\u8d85<\/td><td>\u300c\u4e00\u904e\u6027\u306e\u8ffd\u3044\u98a8\u300d\u304c\u3069\u308c\u3060\u3051\u5265\u843d\u3059\u308b\u304b<\/td><\/tr><tr><td>CSG\u5229\u76ca\u7387<\/td><td>7.6%<\/td><td>\u7d046%<\/td><td>\u4f1a\u793e\u306e\u8a00\u3046\u3068\u304a\u308a\u4f4e\u4e0b\u3059\u308b\u304b<\/td><\/tr><tr><td>\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc<\/td><td>22.3\u5104\u30c9\u30eb<\/td><td>\u2015<\/td><td><strong>\u7d14\u5229\u76ca\u3068\u306e\u5dee\u304c\u7e2e\u307e\u308b\u304b<\/strong><\/td><\/tr><tr><td>\u91d1\u878d\u50b5\u6a29\u6b8b\u9ad8<\/td><td>204\u5104\u30c9\u30eb<\/td><td>\u2015<\/td><td><strong>\u5897\u3048\u7d9a\u3051\u308b\u304b\u3001\u56de\u53ce\u306b\u8ee2\u3058\u308b\u304b<\/strong><\/td><\/tr><tr><td>\u5728\u5eab<\/td><td>213\u5104\u30c9\u30eb<\/td><td>\u2015<\/td><td>\u90e8\u54c1\u78ba\u4fdd\u306e\u305f\u3081\u306e\u7a4d\u307f\u5897\u3057\u304c\u7d9a\u304f\u304b<\/td><\/tr><tr><td>\u81ea\u793e\u682a\u8cb7\u3044\u984d<\/td><td>38\u5104\u30c9\u30eb<\/td><td>\u2015<\/td><td>\u501f\u5165\u4f9d\u5b58\u304c\u7d9a\u304f\u304b<\/td><\/tr><tr><td>\u975eGAAP EPS<\/td><td>7.04\u30c9\u30eb<\/td><td>6.50\u30c9\u30eb<\/td><td>\u7b2c2\u56db\u534a\u671f\u3088\u308a\u4f4e\u3044\u524d\u63d0\u3067\u3042\u308b\u3053\u3068\u306b\u6ce8\u610f<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">9. 3\u884c\u307e\u3068\u3081<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u58f2\u4e0a58%\u5897\u30fb\u7d14\u5229\u76ca3.6\u500d\u30fbAI\u30b5\u30fc\u30d0\u30fc\u53d7\u6ce8\u6b8b950\u5104\u30c9\u30eb\u306f\u3001\u53d7\u6ce8\u6b8b\u306e\u7a4d\u307f\u4e0a\u3052\u5f0f\u3067\u3082\u78ba\u8a8d\u3067\u304d\u308b\u672c\u7269\u306e\u6570\u5b57\u3002\u901a\u671f\u4e88\u60f3\u306f\u534a\u5e74\u30673\u56de\u5f15\u304d\u4e0a\u3052\u3089\u308c\u3001\u671f\u521d\u306e1,400\u5104\u30c9\u30eb\u304c1,920\u5104\u30c9\u30eb\u306b\u306a\u3063\u305f\u3002<\/li>\n\n\n\n<li>\u4e00\u65b9\u3067\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f13%\u6e1b\u3002\u539f\u56e0\u306f\u5728\u5eab\u500d\u5897\u3068\u3001\u9867\u5ba2\u3078\u306e\u878d\u8cc7\uff08\u91d1\u878d\u50b5\u6a29\uff09\u304c\u534a\u5e74\u306762\u5104\u30c9\u30eb\u5897\u3048\u305f\u3053\u3068\u3002\u4f1a\u793e\u304c\u5f37\u8abf\u3059\u308b\u300c\u8abf\u6574\u5f8cFCF81\u5104\u30c9\u30eb\u300d\u306e82%\u306f\u3053\u306e\u878d\u8cc7\u5206\u306e\u8db3\u3057\u623b\u3057\u3067\u3001\u55b6\u696dCF\u3092\u57fa\u6e96\u306b\u898b\u308b\u306e\u304c\u5b89\u5168\u3002<\/li>\n\n\n\n<li>\u682a\u4fa1\u306f\u6c7a\u7b97\u7fcc\u65e5+16%\u3067492\u30c9\u30eb\u3001\u4eca\u671f\u4e88\u60f3PER19\u500d\u3002\u5f37\u6c17\u306f\u300c\u6765\u671f\u306e\u58f2\u4e0a\u306f\u534a\u5206\u898b\u3048\u3066\u3044\u308b\u300d\u3001\u5f31\u6c17\u306f\u300c\u9867\u5ba2\u306e\u8cc7\u91d1\u7e70\u308a\u307e\u3067\u5f15\u304d\u53d7\u3051\u3066\u3044\u308b\u300d\u3002\u3069\u3061\u3089\u3082\u540c\u3058\u8cb8\u501f\u5bfe\u7167\u8868\u3092\u898b\u3066\u8a00\u3063\u3066\u3044\u308b\u3002<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\">\u672c\u8a18\u4e8b\u306f\u3001\u6c7a\u7b97\u30ea\u30ea\u30fc\u30b9\uff08Form 8-K\u6dfb\u4ed8\uff09\u30fb\u6c7a\u7b97\u8aac\u660e\u4f1a\u306e\u66f8\u304d\u8d77\u3053\u3057\uff08\u4f1a\u793eIR\u30b5\u30a4\u30c8\u63b2\u8f09\uff09\u30fb\u524d\u671f\u304a\u3088\u3073\u524d\u3005\u671f\u306e\u6c7a\u7b97\u30ea\u30ea\u30fc\u30b9\u3001\u306a\u3089\u3073\u306b\u682a\u4fa1\u30fb\u70ba\u66ff\u306b\u95a2\u3059\u308b\u5831\u9053\u3092\u3082\u3068\u306b\u3001\u751f\u6210AI\u3092\u57f7\u7b46\u88dc\u52a9\u3068\u3057\u3066\u7528\u3044\u3066\u4f5c\u6210\u3057\u3066\u3044\u307e\u3059\u3002\u8ad6\u70b9\u306e\u9078\u5b9a\u30fb\u69cb\u6210\u306e\u5224\u65ad\u3001\u304a\u3088\u3073\u8a18\u8f09\u3057\u305f\u6570\u5024\u3068\u4e00\u6b21\u60c5\u5831\u3068\u306e\u7167\u5408\u306f\u7b46\u8005\u304c\u884c\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u672c\u8a18\u4e8b\u306f\u7279\u5b9a\u306e\u91d1\u878d\u5546\u54c1\u306e\u58f2\u8cb7\u3092\u52e7\u8a98\u30fb\u52a9\u8a00\u3059\u308b\u3082\u306e\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u8ca1\u52d9\u6570\u5024\u306f\u4f1a\u793e\u306e\u6c7a\u7b97\u30ea\u30ea\u30fc\u30b9\u306b\u57fa\u3065\u304d\u3001\u6bd4\u7387\u30fb\u9006\u7b97\u5024\u306f\u7b46\u8005\u306e\u6982\u7b97\u3067\u3059\uff08\u300c\u7b46\u8005\u306e\u6982\u7b97\u300d\u3068\u660e\u8a18\uff09\u3002\u682a\u4fa1\u30fb\u6642\u4fa1\u7dcf\u984d\u30fbPER\u30fb\u914d\u5f53\u5229\u56de\u308a\u306f2026\u5e749\u67082\u65e5\u7d42\u5024\u306e\u5831\u9053\u30d9\u30fc\u30b9\u3067\u3042\u308a\u3001\u8a3c\u5238\u4f1a\u793e\u306e\u30c4\u30fc\u30eb\u3067\u78ba\u8a8d\u3057\u3066\u304f\u3060\u3055\u3044\u3002\u8aac\u660e\u4f1a\u3067\u306e\u767a\u8a00\u306f\u4f1a\u793eIR\u30b5\u30a4\u30c8\u63b2\u8f09\u306e\u66f8\u304d\u8d77\u3053\u3057\u3092\u8981\u7d04\u3057\u305f\u3082\u306e\u3067\u3001\u539f\u6587\u3092\u3054\u78ba\u8a8d\u304f\u3060\u3055\u3044\u3002\u672c\u8a18\u4e8b\u3067\u306f\u3001\u91d1\u878d\u50b5\u6a29\u306e\u8cb8\u3057\u5148\u30fb\u4fe1\u7528\u529b\u3001\u53d7\u6ce8\u6b8b\u306e\u9867\u5ba2\u5225\u5185\u8a33\u3001\u5927\u682a\u4e3b\u306e\u8b70\u6c7a\u6a29\u6bd4\u7387\u3001\u4fdd\u6709\u682a\u5f0f\u6295\u8cc7\u306e\u5185\u8a33\u3001\u5730\u57df\u5225\u58f2\u4e0a\u306b\u306f\u8e0f\u307f\u8fbc\u3093\u3067\u3044\u307e\u305b\u3093\u3002\u3053\u308c\u3089\u306fForm 10-Q\u30fbForm 10-K\u30fb\u59d4\u4efb\u72b6\u8aac\u660e\u66f8\uff08DEF 14A\uff09\u3067\u78ba\u8a8d\u3067\u304d\u307e\u3059\uff08SEC EDGAR\uff1a<a href=\"http:\/\/www.sec.gov%EF%BC%89%E3%80%82\">www.sec.gov\uff09\u3002<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8a18\u8f09\u5185\u5bb9\u306e\u6b63\u78ba\u6027\u30fb\u5b8c\u5168\u6027\u306b\u306f\u6ce8\u610f\u3092\u6255\u3063\u3066\u3044\u307e\u3059\u304c\u3001\u8aa4\u308a\u3084\u60c5\u5831\u306e\u9673\u8150\u5316\u304c\u542b\u307e\u308c\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u3001\u3053\u308c\u3092\u4fdd\u8a3c\u3059\u308b\u3082\u306e\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u672c\u8a18\u4e8b\u306e\u60c5\u5831\u3092\u5229\u7528\u3057\u305f\u3053\u3068\u306b\u3088\u308a\u751f\u3058\u305f\u3044\u304b\u306a\u308b\u640d\u5bb3\u306b\u3064\u3044\u3066\u3082\u3001\u7b46\u8005\u306f\u4e00\u5207\u306e\u8cac\u4efb\u3092\u8ca0\u3044\u307e\u305b\u3093\u3002\u6295\u8cc7\u306e\u6700\u7d42\u5224\u65ad\u306f\u3001\u5fc5\u305a\u3054\u81ea\u8eab\u3067\u4e00\u6b21\u60c5\u5831\uff08\u4f1a\u793eIR\u30b5\u30a4\u30c8\u30fbSEC EDGAR\u7b49\uff09\u3092\u3054\u78ba\u8a8d\u306e\u3046\u3048\u3001\u81ea\u5df1\u8cac\u4efb\u3067\u884c\u3063\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u672c\u8a18\u4e8b\u306f2026\u5e749\u67083\u65e5\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 &#8230; <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","columnck":"","stmeta_robots":"index, follow","st_titlewords":"","st_title_extra":"","st_keywords":"","st_description":"","st_display_ad_mark":"","st_display_ad_mark_hide":"","textcopyck":"","st_copyright":"","st_copyurl":"","eyecatch_set":"","st_youtube_url":"","st_youtube_eyecatch":"","headerwidget_set":"","updatewidget_set":"","kanrenwidget_set":"","ikkatuwidget_set":"","koukoku_set":"","auto_adsense_koukoku_set":"","st_ai_share_hide":"","st_redirect":"","st_redirect_url_as_canonical":"","st_redirect_pvm_do_not_track":"","post_data_updatewidget_set":"","st_post_header_under_bg":"","st_post_header_under_subtitle":"","st_twitter_tag":"","affinger_note":"","rankdisplayck":"","st_head_code":"","st_footer_code":"","st_post_header_under_code":"","_st_toc_override":false,"_st_toc_settings":{"show_title":false,"title":"","hide_by_default":false,"target_levels":[],"list_style":"default"}},"categories":[590],"tags":[629,627,630,158,628],"class_list":["post-229","post","type-post","status-publish","format-standard","hentry","category-590","tag-ai","tag-dell","tag-630","tag-158","tag-628"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 5.0.1.1 - aioseo.com -->\n\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t<meta name=\"author\" content=\"\u305d\u306e\u3068\u304d\u306f\u3001\u91d1\u3092\u3088\u308d\u3057\u304f\"\/>\n\t<link rel=\"canonical\" href=\"https:\/\/sonokane.net\/?p=229\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO (AIOSEO) 5.0.1.1\" \/>\n\t\t<meta property=\"og:locale\" content=\"ja_JP\" \/>\n\t\t<meta property=\"og:site_name\" content=\"\uff3b\u305d\u306e\u3068\u304d\u306f\u3001\u91d1\u3092\u3088\u308d\u3057\u304f\uff3d | \u304a\u91d1\u306e\u4e0a\u624b\u306a\u5897\u3084\u3057\u65b9\u3001\u4f7f\u3044\u65b9\u3001\u501f\u308a\u65b9\u3001\u8caf\u3081\u65b9\u306e\u304a\u8a71\" \/>\n\t\t<meta property=\"og:type\" content=\"article\" \/>\n\t\t<meta property=\"og:title\" content=\"\u30102026\u5e749\u6708\u767a\u8868\u30fb\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\uff085\u301c7\u6708\u671f\uff09\u3011\u30c7\u30eb\u30fb\u30c6\u30af\u30ce\u30ed\u30b8\u30fc\u30ba\uff08NYSE: DELL\uff09\u2015\u2015\u58f2\u4e0a58%\u5897\u30fbAI\u53d7\u6ce8\u6b8b950\u5104\u30c9\u30eb\u306a\u306e\u306b\u3001\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f\u306a\u305c\u6e1b\u3063\u305f\u306e\u304b\uff1f | \uff3b\u305d\u306e\u3068\u304d\u306f\u3001\u91d1\u3092\u3088\u308d\u3057\u304f\uff3d | \u30ad\u30e3\u30c3\u30b7\u30f3\u30b0\u30fb\u30ab\u30fc\u30c9\u30ed\u30fc\u30f3\u6bd4\u8f03\u30fb\u307e\u3068\u3081\u30fb\u7533\u8fbc\" \/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/sonokane.net\/?p=229\" \/>\n\t\t<meta property=\"article:published_time\" content=\"2026-09-03T17:19:03+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2026-09-03T17:19:05+00:00\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary\" \/>\n\t\t<meta name=\"twitter:title\" content=\"\u30102026\u5e749\u6708\u767a\u8868\u30fb\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\uff085\u301c7\u6708\u671f\uff09\u3011\u30c7\u30eb\u30fb\u30c6\u30af\u30ce\u30ed\u30b8\u30fc\u30ba\uff08NYSE: DELL\uff09\u2015\u2015\u58f2\u4e0a58%\u5897\u30fbAI\u53d7\u6ce8\u6b8b950\u5104\u30c9\u30eb\u306a\u306e\u306b\u3001\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f\u306a\u305c\u6e1b\u3063\u305f\u306e\u304b\uff1f | \uff3b\u305d\u306e\u3068\u304d\u306f\u3001\u91d1\u3092\u3088\u308d\u3057\u304f\uff3d | \u30ad\u30e3\u30c3\u30b7\u30f3\u30b0\u30fb\u30ab\u30fc\u30c9\u30ed\u30fc\u30f3\u6bd4\u8f03\u30fb\u307e\u3068\u3081\u30fb\u7533\u8fbc\" \/>\n\t\t<script type=\"application\/ld+json\" class=\"aioseo-schema\">\n\t\t\t{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/sonokane.net\\\/?p=229#article\",\"name\":\"\\u30102026\\u5e749\\u6708\\u767a\\u8868\\u30fb\\u7b2c2\\u56db\\u534a\\u671f\\u6c7a\\u7b97\\uff085\\u301c7\\u6708\\u671f\\uff09\\u3011\\u30c7\\u30eb\\u30fb\\u30c6\\u30af\\u30ce\\u30ed\\u30b8\\u30fc\\u30ba\\uff08NYSE: DELL\\uff09\\u2015\\u2015\\u58f2\\u4e0a58%\\u5897\\u30fbAI\\u53d7\\u6ce8\\u6b8b950\\u5104\\u30c9\\u30eb\\u306a\\u306e\\u306b\\u3001\\u55b6\\u696d\\u30ad\\u30e3\\u30c3\\u30b7\\u30e5\\u30d5\\u30ed\\u30fc\\u306f\\u306a\\u305c\\u6e1b\\u3063\\u305f\\u306e\\u304b\\uff1f | \\uff3b\\u305d\\u306e\\u3068\\u304d\\u306f\\u3001\\u91d1\\u3092\\u3088\\u308d\\u3057\\u304f\\uff3d | \\u30ad\\u30e3\\u30c3\\u30b7\\u30f3\\u30b0\\u30fb\\u30ab\\u30fc\\u30c9\\u30ed\\u30fc\\u30f3\\u6bd4\\u8f03\\u30fb\\u307e\\u3068\\u3081\\u30fb\\u7533\\u8fbc\",\"headline\":\"\\u30102026\\u5e749\\u6708\\u767a\\u8868\\u30fb\\u7b2c2\\u56db\\u534a\\u671f\\u6c7a\\u7b97\\uff085\\u301c7\\u6708\\u671f\\uff09\\u3011\\u30c7\\u30eb\\u30fb\\u30c6\\u30af\\u30ce\\u30ed\\u30b8\\u30fc\\u30ba\\uff08NYSE: DELL\\uff09\\u2015\\u2015\\u58f2\\u4e0a58%\\u5897\\u30fbAI\\u53d7\\u6ce8\\u6b8b950\\u5104\\u30c9\\u30eb\\u306a\\u306e\\u306b\\u3001\\u55b6\\u696d\\u30ad\\u30e3\\u30c3\\u30b7\\u30e5\\u30d5\\u30ed\\u30fc\\u306f\\u306a\\u305c\\u6e1b\\u3063\\u305f\\u306e\\u304b\\uff1f\",\"author\":{\"@id\":\"https:\\\/\\\/sonokane.net\\\/?author=1#author\"},\"publisher\":{\"@id\":\"https:\\\/\\\/sonokane.net\\\/#organization\"},\"datePublished\":\"2026-09-04T02:19:03+09:00\",\"dateModified\":\"2026-09-04T02:19:05+09:00\",\"inLanguage\":\"ja\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/sonokane.net\\\/?p=229#webpage\"},\"isPartOf\":{\"@id\":\"https:\\\/\\\/sonokane.net\\\/?p=229#webpage\"},\"articleSection\":\"\\u682a\\u5f0f\\u6295\\u8cc7, AI\\u30b5\\u30fc\\u30d0\\u30fc, DELL, \\u30c7\\u30fc\\u30bf\\u30bb\\u30f3\\u30bf\\u30fc, \\u30d1\\u30bd\\u30b3\\u30f3, \\u7c73\\u56fd\\u682a\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/sonokane.net\\\/?p=229#breadcrumblist\",\"itemListElement\":[{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/sonokane.net#listItem\",\"position\":1,\"name\":\"\\u30db\\u30fc\\u30e0\",\"item\":\"https:\\\/\\\/sonokane.net\",\"nextItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/sonokane.net\\\/?cat=590#listItem\",\"name\":\"\\u682a\\u5f0f\\u6295\\u8cc7\"}},{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/sonokane.net\\\/?cat=590#listItem\",\"position\":2,\"name\":\"\\u682a\\u5f0f\\u6295\\u8cc7\",\"item\":\"https:\\\/\\\/sonokane.net\\\/?cat=590\",\"nextItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/sonokane.net\\\/?p=229#listItem\",\"name\":\"\\u30102026\\u5e749\\u6708\\u767a\\u8868\\u30fb\\u7b2c2\\u56db\\u534a\\u671f\\u6c7a\\u7b97\\uff085\\u301c7\\u6708\\u671f\\uff09\\u3011\\u30c7\\u30eb\\u30fb\\u30c6\\u30af\\u30ce\\u30ed\\u30b8\\u30fc\\u30ba\\uff08NYSE: DELL\\uff09\\u2015\\u2015\\u58f2\\u4e0a58%\\u5897\\u30fbAI\\u53d7\\u6ce8\\u6b8b950\\u5104\\u30c9\\u30eb\\u306a\\u306e\\u306b\\u3001\\u55b6\\u696d\\u30ad\\u30e3\\u30c3\\u30b7\\u30e5\\u30d5\\u30ed\\u30fc\\u306f\\u306a\\u305c\\u6e1b\\u3063\\u305f\\u306e\\u304b\\uff1f\"},\"previousItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/sonokane.net#listItem\",\"name\":\"\\u30db\\u30fc\\u30e0\"}},{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/sonokane.net\\\/?p=229#listItem\",\"position\":3,\"name\":\"\\u30102026\\u5e749\\u6708\\u767a\\u8868\\u30fb\\u7b2c2\\u56db\\u534a\\u671f\\u6c7a\\u7b97\\uff085\\u301c7\\u6708\\u671f\\uff09\\u3011\\u30c7\\u30eb\\u30fb\\u30c6\\u30af\\u30ce\\u30ed\\u30b8\\u30fc\\u30ba\\uff08NYSE: DELL\\uff09\\u2015\\u2015\\u58f2\\u4e0a58%\\u5897\\u30fbAI\\u53d7\\u6ce8\\u6b8b950\\u5104\\u30c9\\u30eb\\u306a\\u306e\\u306b\\u3001\\u55b6\\u696d\\u30ad\\u30e3\\u30c3\\u30b7\\u30e5\\u30d5\\u30ed\\u30fc\\u306f\\u306a\\u305c\\u6e1b\\u3063\\u305f\\u306e\\u304b\\uff1f\",\"previousItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/sonokane.net\\\/?cat=590#listItem\",\"name\":\"\\u682a\\u5f0f\\u6295\\u8cc7\"}}]},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/sonokane.net\\\/#organization\",\"name\":\"\\uff3b\\u305d\\u306e\\u3068\\u304d\\u306f\\u3001\\u91d1\\u3092\\u3088\\u308d\\u3057\\u304f\\uff3d\\u304a\\u91d1\\u3092\\u501f\\u308a\\u308b\\u306a\\u3089\\uff01\",\"description\":\"\\u304a\\u91d1\\u306e\\u4e0a\\u624b\\u306a\\u5897\\u3084\\u3057\\u65b9\\u3001\\u4f7f\\u3044\\u65b9\\u3001\\u501f\\u308a\\u65b9\\u3001\\u8caf\\u3081\\u65b9\\u306e\\u304a\\u8a71\",\"url\":\"https:\\\/\\\/sonokane.net\\\/\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/sonokane.net\\\/?author=1#author\",\"url\":\"https:\\\/\\\/sonokane.net\\\/?author=1\",\"name\":\"\\u305d\\u306e\\u3068\\u304d\\u306f\\u3001\\u91d1\\u3092\\u3088\\u308d\\u3057\\u304f\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/sonokane.net\\\/?p=229#webpage\",\"url\":\"https:\\\/\\\/sonokane.net\\\/?p=229\",\"name\":\"\\u30102026\\u5e749\\u6708\\u767a\\u8868\\u30fb\\u7b2c2\\u56db\\u534a\\u671f\\u6c7a\\u7b97\\uff085\\u301c7\\u6708\\u671f\\uff09\\u3011\\u30c7\\u30eb\\u30fb\\u30c6\\u30af\\u30ce\\u30ed\\u30b8\\u30fc\\u30ba\\uff08NYSE: DELL\\uff09\\u2015\\u2015\\u58f2\\u4e0a58%\\u5897\\u30fbAI\\u53d7\\u6ce8\\u6b8b950\\u5104\\u30c9\\u30eb\\u306a\\u306e\\u306b\\u3001\\u55b6\\u696d\\u30ad\\u30e3\\u30c3\\u30b7\\u30e5\\u30d5\\u30ed\\u30fc\\u306f\\u306a\\u305c\\u6e1b\\u3063\\u305f\\u306e\\u304b\\uff1f | \\uff3b\\u305d\\u306e\\u3068\\u304d\\u306f\\u3001\\u91d1\\u3092\\u3088\\u308d\\u3057\\u304f\\uff3d | \\u30ad\\u30e3\\u30c3\\u30b7\\u30f3\\u30b0\\u30fb\\u30ab\\u30fc\\u30c9\\u30ed\\u30fc\\u30f3\\u6bd4\\u8f03\\u30fb\\u307e\\u3068\\u3081\\u30fb\\u7533\\u8fbc\",\"inLanguage\":\"ja\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/sonokane.net\\\/#website\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/sonokane.net\\\/?p=229#breadcrumblist\"},\"author\":{\"@id\":\"https:\\\/\\\/sonokane.net\\\/?author=1#author\"},\"creator\":{\"@id\":\"https:\\\/\\\/sonokane.net\\\/?author=1#author\"},\"datePublished\":\"2026-09-04T02:19:03+09:00\",\"dateModified\":\"2026-09-04T02:19:05+09:00\"},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/sonokane.net\\\/#website\",\"url\":\"https:\\\/\\\/sonokane.net\\\/\",\"name\":\"\\uff3b\\u305d\\u306e\\u3068\\u304d\\u306f\\u3001\\u91d1\\u3092\\u3088\\u308d\\u3057\\u304f\\uff3d\\u304a\\u91d1\\u3092\\u501f\\u308a\\u308b\\u306a\\u3089\\uff01\",\"description\":\"\\u304a\\u91d1\\u306e\\u4e0a\\u624b\\u306a\\u5897\\u3084\\u3057\\u65b9\\u3001\\u4f7f\\u3044\\u65b9\\u3001\\u501f\\u308a\\u65b9\\u3001\\u8caf\\u3081\\u65b9\\u306e\\u304a\\u8a71\",\"inLanguage\":\"ja\",\"publisher\":{\"@id\":\"https:\\\/\\\/sonokane.net\\\/#organization\"}}]}\n\t\t<\/script>\n\t\t<!-- All in One SEO -->\n\n","aioseo_head_json":{"title":"\u30102026\u5e749\u6708\u767a\u8868\u30fb\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\uff085\u301c7\u6708\u671f\uff09\u3011\u30c7\u30eb\u30fb\u30c6\u30af\u30ce\u30ed\u30b8\u30fc\u30ba\uff08NYSE: DELL\uff09\u2015\u2015\u58f2\u4e0a58%\u5897\u30fbAI\u53d7\u6ce8\u6b8b950\u5104\u30c9\u30eb\u306a\u306e\u306b\u3001\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f\u306a\u305c\u6e1b\u3063\u305f\u306e\u304b\uff1f | \uff3b\u305d\u306e\u3068\u304d\u306f\u3001\u91d1\u3092\u3088\u308d\u3057\u304f\uff3d | \u30ad\u30e3\u30c3\u30b7\u30f3\u30b0\u30fb\u30ab\u30fc\u30c9\u30ed\u30fc\u30f3\u6bd4\u8f03\u30fb\u307e\u3068\u3081\u30fb\u7533\u8fbc","description":"","canonical_url":"https:\/\/sonokane.net\/?p=229","robots":"max-image-preview:large","keywords":"","webmasterTools":{"miscellaneous":""},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/sonokane.net\/?p=229#article","name":"\u30102026\u5e749\u6708\u767a\u8868\u30fb\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\uff085\u301c7\u6708\u671f\uff09\u3011\u30c7\u30eb\u30fb\u30c6\u30af\u30ce\u30ed\u30b8\u30fc\u30ba\uff08NYSE: DELL\uff09\u2015\u2015\u58f2\u4e0a58%\u5897\u30fbAI\u53d7\u6ce8\u6b8b950\u5104\u30c9\u30eb\u306a\u306e\u306b\u3001\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f\u306a\u305c\u6e1b\u3063\u305f\u306e\u304b\uff1f | \uff3b\u305d\u306e\u3068\u304d\u306f\u3001\u91d1\u3092\u3088\u308d\u3057\u304f\uff3d | \u30ad\u30e3\u30c3\u30b7\u30f3\u30b0\u30fb\u30ab\u30fc\u30c9\u30ed\u30fc\u30f3\u6bd4\u8f03\u30fb\u307e\u3068\u3081\u30fb\u7533\u8fbc","headline":"\u30102026\u5e749\u6708\u767a\u8868\u30fb\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\uff085\u301c7\u6708\u671f\uff09\u3011\u30c7\u30eb\u30fb\u30c6\u30af\u30ce\u30ed\u30b8\u30fc\u30ba\uff08NYSE: DELL\uff09\u2015\u2015\u58f2\u4e0a58%\u5897\u30fbAI\u53d7\u6ce8\u6b8b950\u5104\u30c9\u30eb\u306a\u306e\u306b\u3001\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f\u306a\u305c\u6e1b\u3063\u305f\u306e\u304b\uff1f","author":{"@id":"https:\/\/sonokane.net\/?author=1#author"},"publisher":{"@id":"https:\/\/sonokane.net\/#organization"},"datePublished":"2026-09-04T02:19:03+09:00","dateModified":"2026-09-04T02:19:05+09:00","inLanguage":"ja","mainEntityOfPage":{"@id":"https:\/\/sonokane.net\/?p=229#webpage"},"isPartOf":{"@id":"https:\/\/sonokane.net\/?p=229#webpage"},"articleSection":"\u682a\u5f0f\u6295\u8cc7, AI\u30b5\u30fc\u30d0\u30fc, DELL, \u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc, \u30d1\u30bd\u30b3\u30f3, \u7c73\u56fd\u682a"},{"@type":"BreadcrumbList","@id":"https:\/\/sonokane.net\/?p=229#breadcrumblist","itemListElement":[{"@type":"ListItem","@id":"https:\/\/sonokane.net#listItem","position":1,"name":"\u30db\u30fc\u30e0","item":"https:\/\/sonokane.net","nextItem":{"@type":"ListItem","@id":"https:\/\/sonokane.net\/?cat=590#listItem","name":"\u682a\u5f0f\u6295\u8cc7"}},{"@type":"ListItem","@id":"https:\/\/sonokane.net\/?cat=590#listItem","position":2,"name":"\u682a\u5f0f\u6295\u8cc7","item":"https:\/\/sonokane.net\/?cat=590","nextItem":{"@type":"ListItem","@id":"https:\/\/sonokane.net\/?p=229#listItem","name":"\u30102026\u5e749\u6708\u767a\u8868\u30fb\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\uff085\u301c7\u6708\u671f\uff09\u3011\u30c7\u30eb\u30fb\u30c6\u30af\u30ce\u30ed\u30b8\u30fc\u30ba\uff08NYSE: DELL\uff09\u2015\u2015\u58f2\u4e0a58%\u5897\u30fbAI\u53d7\u6ce8\u6b8b950\u5104\u30c9\u30eb\u306a\u306e\u306b\u3001\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f\u306a\u305c\u6e1b\u3063\u305f\u306e\u304b\uff1f"},"previousItem":{"@type":"ListItem","@id":"https:\/\/sonokane.net#listItem","name":"\u30db\u30fc\u30e0"}},{"@type":"ListItem","@id":"https:\/\/sonokane.net\/?p=229#listItem","position":3,"name":"\u30102026\u5e749\u6708\u767a\u8868\u30fb\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\uff085\u301c7\u6708\u671f\uff09\u3011\u30c7\u30eb\u30fb\u30c6\u30af\u30ce\u30ed\u30b8\u30fc\u30ba\uff08NYSE: DELL\uff09\u2015\u2015\u58f2\u4e0a58%\u5897\u30fbAI\u53d7\u6ce8\u6b8b950\u5104\u30c9\u30eb\u306a\u306e\u306b\u3001\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f\u306a\u305c\u6e1b\u3063\u305f\u306e\u304b\uff1f","previousItem":{"@type":"ListItem","@id":"https:\/\/sonokane.net\/?cat=590#listItem","name":"\u682a\u5f0f\u6295\u8cc7"}}]},{"@type":"Organization","@id":"https:\/\/sonokane.net\/#organization","name":"\uff3b\u305d\u306e\u3068\u304d\u306f\u3001\u91d1\u3092\u3088\u308d\u3057\u304f\uff3d\u304a\u91d1\u3092\u501f\u308a\u308b\u306a\u3089\uff01","description":"\u304a\u91d1\u306e\u4e0a\u624b\u306a\u5897\u3084\u3057\u65b9\u3001\u4f7f\u3044\u65b9\u3001\u501f\u308a\u65b9\u3001\u8caf\u3081\u65b9\u306e\u304a\u8a71","url":"https:\/\/sonokane.net\/"},{"@type":"Person","@id":"https:\/\/sonokane.net\/?author=1#author","url":"https:\/\/sonokane.net\/?author=1","name":"\u305d\u306e\u3068\u304d\u306f\u3001\u91d1\u3092\u3088\u308d\u3057\u304f"},{"@type":"WebPage","@id":"https:\/\/sonokane.net\/?p=229#webpage","url":"https:\/\/sonokane.net\/?p=229","name":"\u30102026\u5e749\u6708\u767a\u8868\u30fb\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\uff085\u301c7\u6708\u671f\uff09\u3011\u30c7\u30eb\u30fb\u30c6\u30af\u30ce\u30ed\u30b8\u30fc\u30ba\uff08NYSE: DELL\uff09\u2015\u2015\u58f2\u4e0a58%\u5897\u30fbAI\u53d7\u6ce8\u6b8b950\u5104\u30c9\u30eb\u306a\u306e\u306b\u3001\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f\u306a\u305c\u6e1b\u3063\u305f\u306e\u304b\uff1f | \uff3b\u305d\u306e\u3068\u304d\u306f\u3001\u91d1\u3092\u3088\u308d\u3057\u304f\uff3d | \u30ad\u30e3\u30c3\u30b7\u30f3\u30b0\u30fb\u30ab\u30fc\u30c9\u30ed\u30fc\u30f3\u6bd4\u8f03\u30fb\u307e\u3068\u3081\u30fb\u7533\u8fbc","inLanguage":"ja","isPartOf":{"@id":"https:\/\/sonokane.net\/#website"},"breadcrumb":{"@id":"https:\/\/sonokane.net\/?p=229#breadcrumblist"},"author":{"@id":"https:\/\/sonokane.net\/?author=1#author"},"creator":{"@id":"https:\/\/sonokane.net\/?author=1#author"},"datePublished":"2026-09-04T02:19:03+09:00","dateModified":"2026-09-04T02:19:05+09:00"},{"@type":"WebSite","@id":"https:\/\/sonokane.net\/#website","url":"https:\/\/sonokane.net\/","name":"\uff3b\u305d\u306e\u3068\u304d\u306f\u3001\u91d1\u3092\u3088\u308d\u3057\u304f\uff3d\u304a\u91d1\u3092\u501f\u308a\u308b\u306a\u3089\uff01","description":"\u304a\u91d1\u306e\u4e0a\u624b\u306a\u5897\u3084\u3057\u65b9\u3001\u4f7f\u3044\u65b9\u3001\u501f\u308a\u65b9\u3001\u8caf\u3081\u65b9\u306e\u304a\u8a71","inLanguage":"ja","publisher":{"@id":"https:\/\/sonokane.net\/#organization"}}]},"og:locale":"ja_JP","og:site_name":"\uff3b\u305d\u306e\u3068\u304d\u306f\u3001\u91d1\u3092\u3088\u308d\u3057\u304f\uff3d | \u304a\u91d1\u306e\u4e0a\u624b\u306a\u5897\u3084\u3057\u65b9\u3001\u4f7f\u3044\u65b9\u3001\u501f\u308a\u65b9\u3001\u8caf\u3081\u65b9\u306e\u304a\u8a71","og:type":"article","og:title":"\u30102026\u5e749\u6708\u767a\u8868\u30fb\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\uff085\u301c7\u6708\u671f\uff09\u3011\u30c7\u30eb\u30fb\u30c6\u30af\u30ce\u30ed\u30b8\u30fc\u30ba\uff08NYSE: DELL\uff09\u2015\u2015\u58f2\u4e0a58%\u5897\u30fbAI\u53d7\u6ce8\u6b8b950\u5104\u30c9\u30eb\u306a\u306e\u306b\u3001\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f\u306a\u305c\u6e1b\u3063\u305f\u306e\u304b\uff1f | \uff3b\u305d\u306e\u3068\u304d\u306f\u3001\u91d1\u3092\u3088\u308d\u3057\u304f\uff3d | \u30ad\u30e3\u30c3\u30b7\u30f3\u30b0\u30fb\u30ab\u30fc\u30c9\u30ed\u30fc\u30f3\u6bd4\u8f03\u30fb\u307e\u3068\u3081\u30fb\u7533\u8fbc","og:url":"https:\/\/sonokane.net\/?p=229","article:published_time":"2026-09-03T17:19:03+00:00","article:modified_time":"2026-09-03T17:19:05+00:00","twitter:card":"summary","twitter:title":"\u30102026\u5e749\u6708\u767a\u8868\u30fb\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\uff085\u301c7\u6708\u671f\uff09\u3011\u30c7\u30eb\u30fb\u30c6\u30af\u30ce\u30ed\u30b8\u30fc\u30ba\uff08NYSE: DELL\uff09\u2015\u2015\u58f2\u4e0a58%\u5897\u30fbAI\u53d7\u6ce8\u6b8b950\u5104\u30c9\u30eb\u306a\u306e\u306b\u3001\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f\u306a\u305c\u6e1b\u3063\u305f\u306e\u304b\uff1f | \uff3b\u305d\u306e\u3068\u304d\u306f\u3001\u91d1\u3092\u3088\u308d\u3057\u304f\uff3d | \u30ad\u30e3\u30c3\u30b7\u30f3\u30b0\u30fb\u30ab\u30fc\u30c9\u30ed\u30fc\u30f3\u6bd4\u8f03\u30fb\u307e\u3068\u3081\u30fb\u7533\u8fbc"},"aioseo_meta_data":{"post_id":"229","title":null,"description":null,"keywords":null,"keyphrases":{"focus":{"keyphrase":"","score":0,"analysis":{"keyphraseInTitle":{"score":0,"maxScore":9,"error":1}}},"additional":[]},"primary_term":null,"canonical_url":null,"og_title":null,"og_description":null,"og_object_type":"default","og_image_type":"default","og_image_url":null,"og_image_width":null,"og_image_height":null,"og_image_custom_url":null,"og_image_custom_fields":null,"og_video":"","og_custom_url":null,"og_article_section":null,"og_article_tags":null,"twitter_use_og":false,"twitter_card":"default","twitter_image_type":"default","twitter_image_url":null,"twitter_image_custom_url":null,"twitter_image_custom_fields":null,"twitter_title":null,"twitter_description":null,"schema":{"blockGraphs":[],"customGraphs":[],"default":{"data":{"Article":[],"Course":[],"Dataset":[],"FAQPage":[],"Movie":[],"Person":[],"Product":[],"ProductReview":[],"Car":[],"Recipe":[],"Service":[],"SoftwareApplication":[],"WebPage":[]},"graphName":"Article","isEnabled":true},"graphs":[]},"schema_type":"default","schema_type_options":null,"pillar_content":false,"robots_default":true,"robots_noindex":false,"robots_noarchive":false,"robots_nosnippet":false,"robots_nofollow":false,"robots_noimageindex":false,"robots_noodp":false,"robots_notranslate":false,"robots_max_snippet":"-1","robots_max_videopreview":"-1","robots_max_imagepreview":"large","priority":null,"frequency":"default","local_seo":null,"limit_modified_date":false,"created":"2026-09-03 17:17:40","updated":"2026-09-04 00:39:53","ai":{"faqs":[],"keyPoints":[],"schemas":[],"titles":[],"descriptions":[],"socialPosts":{"email":{"subject":"","preview":"","content":""},"linkedin":[],"twitter":[],"facebook":[],"instagram":[]}},"breadcrumb_settings":null,"seo_analyzer_scan_date":null,"focus_keyword":null,"additional_keywords":null,"truseo_locale":null},"aioseo_breadcrumb":"<div class=\"aioseo-breadcrumbs\"><span class=\"aioseo-breadcrumb\">\n\t\t\t<a href=\"https:\/\/sonokane.net\" title=\"\u30db\u30fc\u30e0\">\u30db\u30fc\u30e0<\/a>\n\t\t<\/span><span class=\"aioseo-breadcrumb-separator\">&raquo;<\/span><span class=\"aioseo-breadcrumb\">\n\t\t\t<a href=\"https:\/\/sonokane.net\/?cat=590\" title=\"\u682a\u5f0f\u6295\u8cc7\">\u682a\u5f0f\u6295\u8cc7<\/a>\n\t\t<\/span><span class=\"aioseo-breadcrumb-separator\">&raquo;<\/span><span class=\"aioseo-breadcrumb\">\n\t\t\t\u30102026\u5e749\u6708\u767a\u8868\u30fb\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\uff085\u301c7\u6708\u671f\uff09\u3011\u30c7\u30eb\u30fb\u30c6\u30af\u30ce\u30ed\u30b8\u30fc\u30ba\uff08NYSE: DELL\uff09\u2015\u2015\u58f2\u4e0a58%\u5897\u30fbAI\u53d7\u6ce8\u6b8b950\u5104\u30c9\u30eb\u306a\u306e\u306b\u3001\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f\u306a\u305c\u6e1b\u3063\u305f\u306e\u304b\uff1f\n\t\t<\/span><\/div>","aioseo_breadcrumb_json":[{"label":"\u30db\u30fc\u30e0","link":"https:\/\/sonokane.net"},{"label":"\u682a\u5f0f\u6295\u8cc7","link":"https:\/\/sonokane.net\/?cat=590"},{"label":"\u30102026\u5e749\u6708\u767a\u8868\u30fb\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\uff085\u301c7\u6708\u671f\uff09\u3011\u30c7\u30eb\u30fb\u30c6\u30af\u30ce\u30ed\u30b8\u30fc\u30ba\uff08NYSE: DELL\uff09\u2015\u2015\u58f2\u4e0a58%\u5897\u30fbAI\u53d7\u6ce8\u6b8b950\u5104\u30c9\u30eb\u306a\u306e\u306b\u3001\u55b6\u696d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f\u306a\u305c\u6e1b\u3063\u305f\u306e\u304b\uff1f","link":"https:\/\/sonokane.net\/?p=229"}],"_links":{"self":[{"href":"https:\/\/sonokane.net\/index.php?rest_route=\/wp\/v2\/posts\/229","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sonokane.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sonokane.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sonokane.net\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sonokane.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=229"}],"version-history":[{"count":1,"href":"https:\/\/sonokane.net\/index.php?rest_route=\/wp\/v2\/posts\/229\/revisions"}],"predecessor-version":[{"id":230,"href":"https:\/\/sonokane.net\/index.php?rest_route=\/wp\/v2\/posts\/229\/revisions\/230"}],"wp:attachment":[{"href":"https:\/\/sonokane.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sonokane.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sonokane.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}