{"id":241,"date":"2026-09-05T13:08:54","date_gmt":"2026-09-05T04:08:54","guid":{"rendered":"https:\/\/sonokane.net\/?p=241"},"modified":"2026-09-06T01:11:03","modified_gmt":"2026-09-05T16:11:03","slug":"%e3%82%bf%e3%82%a4%e3%83%88%e3%83%ab%ef%bc%9a%e3%80%902026%e5%b9%b48%e6%9c%88%e7%99%ba%e8%a1%a8%e3%83%bb2026%e5%b9%b46%e6%9c%88%e6%9c%9f%e9%80%9a%e6%9c%9f%e6%b1%ba%e7%ae%97%e3%80%91%e3%82%a2%e3%82%a4","status":"publish","type":"post","link":"https:\/\/sonokane.net\/?p=241","title":{"rendered":"\u30102026\u5e748\u6708\u767a\u8868\u30fb2026\u5e746\u6708\u671f\u901a\u671f\u6c7a\u7b97\u3011\u30a2\u30a4\u30fb\u30b0\u30ea\u30c3\u30c9\u30fb\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u30ba\uff08603A\uff09\u2014\u2014\u5e97\u306e\u5c4b\u6839\u306b\u300c\u81ea\u8ca9\u6a5f\u300d\u3092\u7f6e\u304d\u7d9a\u3051\u308b\u4f1a\u793e\u306e\u521d\u6c7a\u7b97\u306f\u8a08\u753b\u8d85\u3048\u3002\u305f\u3060\u3057\u300cEPS61\u5186\u300d\u300cPER17\u500d\u300d\u306f\u3069\u306e\u682a\u6570\u306e\u8a71\u304b\uff1f"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">\u672c\u8a18\u4e8b\u306f2026\u5e749\u67085\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>2026\u5e747\u670829\u65e5\u306b\u6771\u8a3c\u30b0\u30ed\u30fc\u30b9\u3078\u4e0a\u5834\u3057\u305f\u30a2\u30a4\u30fb\u30b0\u30ea\u30c3\u30c9\u30fb\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u30ba\u304c\u30018\u670814\u65e5\u306b\u51fa\u3057\u305f\u4e0a\u5834\u5f8c\u521d\u306e\u901a\u671f\u6c7a\u7b97\uff082026\u5e746\u6708\u671f\uff09\u306e\u4e2d\u8eab\u3002\u58f2\u4e0a\u9ad8256\u5104\u5186\u30fb\u7d14\u5229\u76ca19.4\u5104\u5186\u3067\u3001\u4e0a\u5834\u6642\u306b\u793a\u3057\u305f\u8a08\u753b\u3092\u3059\u3079\u3066\u4e0a\u56de\u3063\u305f\u7406\u7531<\/li>\n\n\n\n<li>\u3053\u306e\u4f1a\u793e\u304c\u300c\u5e97\u8217\u3084\u5009\u5eab\u306e\u5c4b\u6839\u306b\u592a\u967d\u5149\u767a\u96fb\u6240\u3092\u7f6e\u3044\u3066\u96fb\u6c17\u3092\u58f2\u308b\u300d\u4ed5\u4e8b\u3067\u3001\u306a\u305c\u81ea\u793e\u3067\u767a\u96fb\u6240\u3092\u6301\u3064\uff08PPA\u30b5\u30fc\u30d3\u30b9\uff09\u3088\u308a\u3082\u3001\u4ed6\u793e\u306b\u6301\u3063\u3066\u3082\u3089\u3046\uff08\u30a2\u30e9\u30a4\u30a2\u30f3\u30b9\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\uff09\u65b9\u5411\u3078\u8235\u3092\u5207\u3063\u3066\u3044\u308b\u306e\u304b\u3002\u305d\u3057\u3066\u305d\u308c\u304c\u5229\u76ca\u7387\u306b\u3069\u3046\u52b9\u304f\u306e\u304b<\/li>\n\n\n\n<li>\u4e0a\u5834\u76f4\u5f8c\u306e\u4f1a\u793e\u306b\u56fa\u6709\u306e\u300c\u898b\u3048\u65b9\u304c\u8aa4\u89e3\u3092\u751f\u3080\u6570\u5b57\u300d\u3002\u4f1a\u793e\u304c\u958b\u793a\u3059\u308bEPS61.88\u5186\u3068\u3001\u4e0a\u5834\u5f8c\u306e\u5b9f\u969b\u306e\u682a\u6570\u3067\u5272\u3063\u305fEPS58.8\u5186\u3001\u3055\u3089\u306b\u65b0\u682a\u4e88\u7d04\u6a29\u3092\u3059\u3079\u3066\u6570\u3048\u305f52.5\u5186\u306e3\u3064\u304c\u5b58\u5728\u3059\u308b\u3053\u3068\u3002\u8a3c\u5238\u30b5\u30a4\u30c8\u306ePBR\u304c\u4e0a\u5834\u524d\u306e\u7d14\u8cc7\u7523\u3067\u8a08\u7b97\u3055\u308c\u3066\u3044\u308b\u3053\u3068<\/li>\n\n\n\n<li>\u501f\u91d1\u3067\u767a\u96fb\u6240\u3092\u7a4d\u307f\u4e0a\u3052\u3066\u304d\u305f\u4f1a\u793e\u306e\u8ca1\u52d9\u3002\u6709\u5229\u5b50\u8ca0\u50b5265\u5104\u5186\u3001\u30cd\u30c3\u30c8D\/E\u30ec\u30b7\u30aa2.3\u500d\uff08\u4e0a\u5834\u5f8c\u306e\u6982\u7b97\u3067\u306f1.4\u500d\uff09\u3001\u4f1a\u793e\u304c\u76ee\u5b89\u3068\u3059\u308b4.0\u500d\u3001\u91d1\u878d\u6a5f\u95a2\u3068\u306e\u8ca1\u52d9\u5236\u9650\u6761\u9805\u3001\u8cc7\u7523\u9664\u53bb\u50b5\u52d942\u5104\u5186<\/li>\n\n\n\n<li>\u682a\u4e3b\u69cb\u6210\u3068\u30ed\u30c3\u30af\u30a2\u30c3\u30d7\u3002\u7b46\u982d\u682a\u4e3b\u306e\u4f0a\u85e4\u5fe0\u5546\u4e8b\u3001VC2\u793e\u3067\u4e0a\u5834\u5f8c21%\u3001\u30ed\u30c3\u30af\u30a2\u30c3\u30d7\u89e3\u9664\u306f2027\u5e741\u6708\u4e0b\u65ec\u3001\u65b0\u682a\u4e88\u7d04\u6a29439\u4e07\u682a\uff08\u884c\u4f7f\u4fa1\u984d60\u5186\u30fb400\u5186\uff09\u304c\u4e0a\u5834\u5f8c\u682a\u6570\u306e12%\u306b\u5f53\u305f\u308b\u3053\u3068<\/li>\n\n\n\n<li>\u682a\u4e3b\u512a\u5f85\u306f\u300c\u5b9f\u65bd\u3057\u3066\u3044\u306a\u3044\u300d\u3068\u4f1a\u793e\u304c\u660e\u8a00\u3057\u3066\u3044\u308b\u3053\u3068\u3001\u914d\u5f53\u3082\u300c\u5f53\u9762\u884c\u308f\u306a\u3044\u300d\u65b9\u91dd\u3067\u3042\u308b\u3053\u3068<\/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\u3069\u3046\u3044\u3046\u4f1a\u793e\u304b<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">1-1. \u4e8b\u696d\u306e\u69cb\u9020\u30921\u679a\u306e\u8868\u3067<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u9805\u76ee<\/th><th>\u5185\u5bb9\uff082026\u5e746\u6708\u672b\u6642\u70b9\uff09<\/th><\/tr><\/thead><tbody><tr><td>\u8a3c\u5238\u30b3\u30fc\u30c9\u30fb\u5e02\u5834<\/td><td>603A\u30fb\u6771\u8a3c\u30b0\u30ed\u30fc\u30b9\uff082026\u5e747\u670829\u65e5\u4e0a\u5834\uff09<\/td><\/tr><tr><td>\u6c7a\u7b97\u671f<\/td><td>6\u6708\u672b\uff08\u5e741\u56de\u306e\u672c\u6c7a\u7b97\u306f8\u6708\u4e2d\u65ec\u767a\u8868\uff09<\/td><\/tr><tr><td>\u4e8b\u696d\u30bb\u30b0\u30e1\u30f3\u30c8<\/td><td>GX\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u4e8b\u696d\uff08\u58f2\u4e0a\u69cb\u6210\u6bd453.4%\uff09\u3001\u30a8\u30ca\u30b8\u30fc\u30c8\u30ec\u30fc\u30c7\u30a3\u30f3\u30b0\u4e8b\u696d\uff08\u540c47.6%\uff09<\/td><\/tr><tr><td>GX\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u4e8b\u696d\u306e\u4e2d\u8eab<\/td><td>\u5546\u696d\u65bd\u8a2d\u30fb\u7269\u6d41\u65bd\u8a2d\u306e\u5c4b\u6839\u306b\u592a\u967d\u5149\u767a\u96fb\u8a2d\u5099\u3092\u7f6e\u304f\u300c\u30aa\u30f3\u30b5\u30a4\u30c8PPA\u300d\u3002\u81ea\u793e\u3067\u8a2d\u5099\u3092\u6301\u3064\u300cPPA\u30b5\u30fc\u30d3\u30b9\u300d\u3001\u30d1\u30fc\u30c8\u30ca\u30fc\u306b\u8a2d\u5099\u3092\u6301\u3063\u3066\u3082\u3089\u3046\u300c\u30a2\u30e9\u30a4\u30a2\u30f3\u30b9\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u300d\u3001\u9867\u5ba2\u81ea\u8eab\u304c\u8a2d\u5099\u3092\u8cb7\u3046\u300c\u30a4\u30f3\u30c6\u30b0\u30ec\u30fc\u30b7\u30e7\u30f3\u30b5\u30fc\u30d3\u30b9\u300d\u306e3\u672c<\/td><\/tr><tr><td>\u30a8\u30ca\u30b8\u30fc\u30c8\u30ec\u30fc\u30c7\u30a3\u30f3\u30b0\u4e8b\u696d\u306e\u4e2d\u8eab<\/td><td>\u96fb\u529b\u5c0f\u58f2\u3002\u5c4b\u6839\u3067\u4f59\u3063\u305f\u96fb\u6c17\uff08\u4f59\u5270\u96fb\u529b\uff09\u3092\u96c6\u3081\u3066\u3001\u5225\u306e\u9700\u8981\u5bb6\u306b\u58f2\u308b\u300c\u5faa\u74b0\u578b\u96fb\u529b\u300d\u30922025\u5e747\u6708\u306b\u958b\u59cb<\/td><\/tr><tr><td>\u7a3c\u50cd\u5b9f\u7e3e<\/td><td>\u7d2f\u8a081,549\u65bd\u8a2d\u30fb421MW\uff08\u3046\u3061\u30aa\u30f3\u30b5\u30a4\u30c8PPA\u304c1,497\u65bd\u8a2d\u30fb387MW\uff09<\/td><\/tr><tr><td>\u5951\u7d04\u4f01\u696d\u6570<\/td><td>403\u793e\uff08\u30a4\u30aa\u30f3\u3001\u30d0\u30ed\u30fcHD\u3001\u30bb\u30f3\u30b3\u30fc\u30b0\u30eb\u30fc\u30d7\u306a\u3069\u6d41\u901a\u5c0f\u58f2\u30fb\u7269\u6d41\u304c\u4e2d\u5fc3\uff09<\/td><\/tr><tr><td>\u5f93\u696d\u54e1\u6570<\/td><td>153\u540d\uff08\u524d\u671f\u6bd422\u540d\u5897\uff09<\/td><\/tr><tr><td>\u7b46\u982d\u682a\u4e3b<\/td><td>\u4f0a\u85e4\u5fe0\u5546\u4e8b\uff08\u4e0a\u5834\u524d24.73%\u3001\u4e0a\u5834\u5f8c\u306e\u6982\u7b9721.8%\uff09<\/td><\/tr><tr><td>\u914d\u5f53<\/td><td>\u5275\u696d\u4ee5\u6765\u7121\u914d\u3002\u5f53\u9762\u3082\u7121\u914d\u306e\u65b9\u91dd\uff08\u914d\u5f53\u958b\u59cb\u6642\u671f\u306f\u672a\u5b9a\uff09<\/td><\/tr><tr><td>\u682a\u4e3b\u512a\u5f85<\/td><td>\u5236\u5ea6\u306a\u3057\uff08\u4f1a\u793eIR\u306eFAQ\u3067\u300c\u682a\u4e3b\u512a\u5f85\u306f\u5b9f\u65bd\u3057\u3066\u304a\u308a\u307e\u305b\u3093\u300d\u3068\u660e\u8a00\uff09<\/td><\/tr><tr><td>\u9023\u7d50\u306e\u6709\u7121<\/td><td>\u5b50\u4f1a\u793e\u306a\u3057\u30022024\u5e747\u6708\u4ee5\u964d\u306f\u5358\u4f53\u6c7a\u7b97\u306e\u307f<\/td><\/tr><\/tbody><\/table><\/figure>\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\u30aa\u30f3\u30b5\u30a4\u30c8PPA PPA\u306f\u300cPower Purchase Agreement\uff1d\u96fb\u529b\u8cfc\u5165\u5951\u7d04\u300d\u306e\u7565\u3067\u3059\u3002\u767a\u96fb\u4e8b\u696d\u8005\u304c\u9867\u5ba2\u306e\u6577\u5730\u5185\uff08\u3053\u306e\u4f1a\u793e\u306e\u5834\u5408\u306f\u5e97\u8217\u3084\u5009\u5eab\u306e\u5c4b\u6839\uff09\u306b\u81ea\u5206\u306e\u8cbb\u7528\u3067\u592a\u967d\u5149\u30d1\u30cd\u30eb\u3092\u7f6e\u304d\u3001\u305d\u3053\u3067\u4f5c\u3063\u305f\u96fb\u6c17\u3092\u9867\u5ba2\u306b\u58f2\u308b\u4ed5\u7d44\u307f\u3067\u3059\u3002\u9867\u5ba2\u306f\u521d\u671f\u8cbb\u7528\u30bc\u30ed\u3067\u300120\u5e74\u9593\u306e\u56fa\u5b9a\u5358\u4fa1\u3067\u96fb\u6c17\u3092\u8cb7\u3044\u307e\u3059\u3002\u96fb\u529b\u4f1a\u793e\u306e\u9001\u96fb\u7db2\u3092\u901a\u3055\u306a\u3044\u306e\u3067\u8a17\u9001\u6599\uff08\u9001\u96fb\u7dda\u306e\u4f7f\u7528\u6599\uff09\u304c\u304b\u304b\u3089\u305a\u3001\u4e00\u822c\u306b\u7cfb\u7d71\u96fb\u529b\u3088\u308a\u5b89\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\">1-2. \u8ef8\u3068\u306a\u308b\u4f8b\u3048\uff1a\u300c\u5e97\u306e\u5c4b\u6839\u306b\u3001\u81ea\u8ca9\u6a5f\u3092\u7f6e\u304f\u3088\u3046\u306b\u767a\u96fb\u6240\u3092\u7f6e\u3044\u3066\u3044\u304f\u4f1a\u793e\u300d<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u4f1a\u793e\u306e\u4ed5\u4e8b\u3092\u4e00\u8a00\u3067\u3044\u3046\u3068\u3001<strong>\u6614\u306a\u3089\u5e97\u306e\u30aa\u30fc\u30ca\u30fc\u304c\u81ea\u524d\u3067\u592a\u967d\u5149\u30d1\u30cd\u30eb\u3092\u8cb7\u3046\u304b\u3001\u3042\u304d\u3089\u3081\u308b\u304b\u3057\u304b\u306a\u304b\u3063\u305f\u300c\u5c4b\u6839\u306e\u4e0a\u306e\u767a\u96fb\u300d\u3092\u3001\u8a2d\u5099\u306e\u8a2d\u7f6e\u30fb\u6240\u6709\u30fb\u4fdd\u5b88\u304b\u3089\u3001\u4f59\u3063\u305f\u96fb\u6c17\u306e\u5f15\u304d\u53d6\u308a\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\">\u8eab\u8fd1\u306a\u5149\u666f\u306b\u7f6e\u304d\u63db\u3048\u308b\u3068\u3001\u98f2\u6599\u30e1\u30fc\u30ab\u30fc\u304c\u5e97\u306e\u524d\u306b\u81ea\u8ca9\u6a5f\u3092\u7f6e\u304f\u4ed5\u7d44\u307f\u306b\u8fd1\u3044\u3068\u611f\u3058\u307e\u3059\u3002\u5e97\u306f\u5834\u6240\u3092\u8cb8\u3059\u3060\u3051\u3067\u6a5f\u68b0\u3092\u8cb7\u3044\u307e\u305b\u3093\u3002\u6a5f\u68b0\u3092\u6301\u3064\u306e\u306f\u30e1\u30fc\u30ab\u30fc\u3067\u3001\u88dc\u5145\u3082\u6545\u969c\u5bfe\u5fdc\u3082\u30e1\u30fc\u30ab\u30fc\u304c\u3084\u308a\u307e\u3059\u3002\u3053\u306e\u4f1a\u793e\u306e\u5834\u5408\u3001\u81ea\u8ca9\u6a5f\u306b\u5f53\u305f\u308b\u306e\u304c\u5c4b\u6839\u306e\u4e0a\u306e\u592a\u967d\u5149\u767a\u96fb\u8a2d\u5099\u3067\u3001\u5e97\u306f\u305d\u3053\u304b\u3089\u51fa\u3066\u304f\u308b\u96fb\u6c17\u309220\u5e74\u9593\u3001\u6c7a\u307e\u3063\u305f\u5358\u4fa1\u3067\u8cb7\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u666e\u901a\u306e\u81ea\u8ca9\u6a5f\u3068\u9055\u3046\u306e\u306f\u3001\u300c\u58f2\u308c\u6b8b\u308a\u300d\u306e\u6271\u3044\u3067\u3059\u3002\u592a\u967d\u5149\u306f\u663c\u306b\u767a\u96fb\u3057\u307e\u3059\u304c\u3001\u5e97\u304c\u663c\u306b\u4f7f\u3044\u5207\u308c\u306a\u3044\u96fb\u6c17\uff08\u4f59\u5270\u96fb\u529b\uff09\u304c\u5fc5\u305a\u51fa\u307e\u3059\u3002\u666e\u901a\u306e\u30aa\u30f3\u30b5\u30a4\u30c8PPA\u4e8b\u696d\u8005\u306f\u3053\u308c\u3092\u58f2\u308b\u5148\u304c\u306a\u3044\u306e\u3067\u3001\u4f59\u308a\u304c\u51fa\u306a\u3044\u3088\u3046\u6700\u521d\u304b\u3089\u5c0f\u3055\u3081\u306e\u8a2d\u5099\u3057\u304b\u7f6e\u304d\u307e\u305b\u3093\u3002\u3053\u306e\u4f1a\u793e\u306f\u3001\u4f59\u3063\u305f\u96fb\u6c17\u3092\u81ea\u793e\u306e\u96fb\u529b\u5c0f\u58f2\u90e8\u9580\uff08\u30a8\u30ca\u30b8\u30fc\u30c8\u30ec\u30fc\u30c7\u30a3\u30f3\u30b0\u4e8b\u696d\uff09\u3067\u5f15\u304d\u53d6\u308a\u3001\u5225\u306e\u5e97\u3084\u5bb6\u5ead\u306b\u58f2\u308a\u307e\u3059\u3002\u3060\u304b\u3089\u5c4b\u6839\u3044\u3063\u3071\u3044\u306b\u8a2d\u5099\u3092\u7f6e\u3051\u307e\u3059\u3002\u4f1a\u793e\u306e\u8aac\u660e\u8cc7\u6599\u306b\u3088\u308c\u3070\u3001\u3053\u306e\u4ed5\u7d44\u307f\u3092\u4f7f\u3063\u305f\u6848\u4ef6\u3067\u306f\u8a2d\u7f6e\u5bb9\u91cf\u304c\u4e00\u822c\u7684\u306a\u8a2d\u8a08\u3088\u308a\u5e73\u57478\u5272\u5897\u3048\u308b\u3068\u3057\u3066\u3044\u307e\u3059\u3002\u300c\u4f59\u3063\u305f\u5206\u3092\u4ed6\u306e\u5e97\u306b\u56de\u305b\u308b\u304b\u3089\u3001\u6a5f\u68b0\u3092\u5927\u304d\u304f\u3067\u304d\u308b\u300d\u3002\u3053\u308c\u304c\u3053\u306e\u4f1a\u793e\u306e\u4e00\u756a\u306e\u7279\u5fb4\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u4f8b\u3048\u306f\u3001\u5f37\u307f\u3060\u3051\u3067\u306a\u304f\u5f31\u307f\u3082\u8aac\u660e\u3067\u304d\u307e\u3059\u3002<strong>\u81ea\u8ca9\u6a5f\u3092\u5168\u90e8\u81ea\u5206\u3067\u8cb7\u3044\u7d9a\u3051\u308b\u3068\u3001\u304a\u91d1\u304c\u6301\u3061\u307e\u305b\u3093\u3002<\/strong> \u3053\u306e\u4f1a\u793e\u306f2017\u5e74\u304b\u3089\u305a\u3063\u3068\u501f\u91d1\u3068\u30ea\u30fc\u30b9\u3067\u6a5f\u68b0\uff08\u767a\u96fb\u8a2d\u5099\uff09\u3092\u8cb7\u3063\u3066\u304d\u307e\u3057\u305f\u3002\u305d\u306e\u7d50\u679c\u304c\u3001\u5f8c\u8ff0\u3059\u308b\u6709\u5229\u5b50\u8ca0\u50b5265\u5104\u5186\u30fb\u81ea\u5df1\u8cc7\u672c\u6bd4\u738719.3%\u3068\u3044\u3046\u6570\u5b57\u3067\u3059\u3002\u305d\u3053\u30672023\u5e74\u304b\u3089\u3001\u300c\u6a5f\u68b0\u306f\u30ea\u30fc\u30b9\u4f1a\u793e\u3084\u4e0d\u52d5\u7523\u4f1a\u793e\u306b\u8cb7\u3063\u3066\u3082\u3089\u3044\u3001\u81ea\u5206\u306f\u8a2d\u7f6e\u3068\u4fdd\u5b88\u3068\u58f2\u308c\u6b8b\u308a\u306e\u5f15\u304d\u53d6\u308a\u3060\u3051\u3092\u8acb\u3051\u8ca0\u3046\u300d\u5f62\uff08\u30a2\u30e9\u30a4\u30a2\u30f3\u30b9\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\uff09\u3092\u5897\u3084\u3057\u307e\u3057\u305f\u3002\u8a2d\u5099\u6295\u8cc7\u3092\u4f34\u308f\u306a\u3044\u5206\u3001\u8cc7\u672c\u52b9\u7387\u306f\u4e0a\u304c\u308a\u307e\u3059\u304c\u3001\u958b\u767a\u3057\u305f\u8a2d\u5099\u3092\u58f2\u308a\u6e21\u3059\u300c\u58f2\u308a\u5207\u308a\u300d\u306e\u5546\u58f2\u306b\u306a\u308b\u306e\u3067\u5229\u76ca\u7387\u306f\u4e0b\u304c\u308a\u3001\u6a5f\u68b0\u3092\u8cb7\u3063\u3066\u304f\u308c\u308b\u76f8\u624b\uff08\u30a2\u30e9\u30a4\u30a2\u30f3\u30b9\u30d1\u30fc\u30c8\u30ca\u30fc\uff09\u3078\u306e\u4f9d\u5b58\u3082\u751f\u307e\u308c\u307e\u3059\u3002\u3053\u306e\u8a18\u4e8b\u306e\u6df1\u6398\u308a\uff08\u7b2c3\u7ae0\uff09\u3068\u5f31\u6c17\u6750\u6599\uff08\u7b2c6\u7ae0\uff09\u3001\u8cc7\u672c\u653f\u7b56\uff08\u7b2c5\u7ae0\uff09\u3067\u3001\u3053\u306e\u8ef8\u3092\u7e70\u308a\u8fd4\u3057\u4f7f\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1-3. \u76f4\u8fd13\u671f\u306e\u696d\u7e3e\u63a8\u79fb<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u9805\u76ee<\/th><th>2024\u5e746\u6708\u671f\uff08\u9023\u7d50\uff09<\/th><th>2025\u5e746\u6708\u671f\uff08\u5358\u4f53\uff09<\/th><th>2026\u5e746\u6708\u671f\uff08\u5358\u4f53\uff09<\/th><\/tr><\/thead><tbody><tr><td>\u58f2\u4e0a\u9ad8\uff08\u767e\u4e07\u5186\uff09<\/td><td>22,566<\/td><td>22,939<\/td><td>25,699<\/td><\/tr><tr><td>\u58f2\u4e0a\u7dcf\u5229\u76ca\uff08\u767e\u4e07\u5186\uff09<\/td><td>4,459<\/td><td>6,059<\/td><td>7,046<\/td><\/tr><tr><td>\u55b6\u696d\u5229\u76ca\uff08\u767e\u4e07\u5186\uff09<\/td><td>1,948<\/td><td>3,139<\/td><td>3,581<\/td><\/tr><tr><td>\u55b6\u696d\u5229\u76ca\u7387<\/td><td>8.6%<\/td><td>13.7%<\/td><td>13.9%<\/td><\/tr><tr><td>EBITDA\uff08\u767e\u4e07\u5186\uff09<\/td><td>3,515<\/td><td>5,059<\/td><td>5,748<\/td><\/tr><tr><td>\u7d4c\u5e38\u5229\u76ca\uff08\u767e\u4e07\u5186\uff09<\/td><td>1,327<\/td><td>2,389<\/td><td>2,867<\/td><\/tr><tr><td>\u5f53\u671f\u7d14\u5229\u76ca\uff08\u767e\u4e07\u5186\uff09<\/td><td>867<\/td><td>1,595<\/td><td>1,940<\/td><\/tr><tr><td>EPS\uff08\u5186\u3001\u5206\u5272\u8abf\u6574\u5f8c\uff09<\/td><td>27.56<\/td><td>49.80<\/td><td>60.42<\/td><\/tr><tr><td>ROE<\/td><td>21.7%<\/td><td>27.6%<\/td><td>25.7%<\/td><\/tr><tr><td>\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387<\/td><td>13.7%<\/td><td>15.8%<\/td><td>19.3%<\/td><\/tr><tr><td>\u7dcf\u8cc7\u7523\uff08\u767e\u4e07\u5186\uff09<\/td><td>36,313<\/td><td>41,674<\/td><td>44,294<\/td><\/tr><tr><td>\u914d\u5f53<\/td><td>0\u5186<\/td><td>0\u5186<\/td><td>0\u5186<\/td><\/tr><tr><td>\u30aa\u30f3\u30b5\u30a4\u30c8PPA\u7d2f\u8a08\u5bb9\u91cf<\/td><td>226MW<\/td><td>300MW<\/td><td>387MW<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u51fa\u5178\uff1a\u6c7a\u7b97\u77ed\u4fe1\u3001\u4e0a\u5834\u7533\u8acb\u306e\u305f\u3081\u306e\u6709\u4fa1\u8a3c\u5238\u5831\u544a\u66f8\uff08\u2160\u306e\u90e8\uff09\u3001\u6c7a\u7b97\u8aac\u660e\u8cc7\u6599\u30022024\u5e746\u6708\u671f\u306f\u9023\u7d50\u30012025\u5e746\u6708\u671f\u4ee5\u964d\u306f\u5358\u4f53\uff08\u5b50\u4f1a\u793e\u3092\u5438\u53ce\u5408\u4f75\u3057\u9023\u7d50\u3092\u4f5c\u3089\u306a\u304f\u306a\u3063\u305f\u305f\u3081\uff09\u3002EBITDA\u306f\u55b6\u696d\u5229\u76ca\uff0b\u6e1b\u4fa1\u511f\u5374\u8cbb\uff0b\u306e\u308c\u3093\u511f\u5374\u8cbb\uff08\u4f1a\u793e\u5b9a\u7fa9\uff09\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u8868\u306e\u30dd\u30a4\u30f3\u30c8\u306f2\u3064\u3067\u3059\u3002<strong>\u58f2\u4e0a\u306f3\u671f\u306714%\u3057\u304b\u4f38\u3073\u3066\u3044\u306a\u3044\u306e\u306b\u3001\u58f2\u4e0a\u7dcf\u5229\u76ca\u306f58%\u4f38\u3073\u3066\u3044\u308b<\/strong>\u3053\u3068\u3002\u3053\u308c\u306f\u58f2\u4e0a\u306e\u4e2d\u8eab\u304c\u3001\u8584\u5229\u306e\u96fb\u529b\u5c0f\u58f2\uff08\u30a8\u30ca\u30b8\u30fc\u30c8\u30ec\u30fc\u30c7\u30a3\u30f3\u30b0\u4e8b\u696d\uff09\u304b\u3089\u3001\u5229\u76ca\u7387\u306e\u9ad8\u3044\u767a\u96fb\u6240\u306e\u958b\u767a\u30fb\u904b\u55b6\uff08GX\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u4e8b\u696d\uff09\u3078\u5165\u308c\u66ff\u308f\u3063\u3066\u3044\u308b\u305f\u3081\u3067\u3059\u3002\u3082\u30461\u3064\u306f\u3001<strong>ROE\u304c20%\u53f0\u306a\u306e\u306b\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u304c10%\u53f0<\/strong>\u3067\u3042\u308b\u3053\u3068\u3002\u7d14\u8cc7\u7523\u304c\u8584\u304f\u3001\u501f\u91d1\u3067\u7dcf\u8cc7\u7523\u3092\u81a8\u3089\u307e\u305b\u3066\u3044\u308b\u69cb\u9020\u3067\u3059\u3002\u3053\u306e2\u70b9\u306f\u8a18\u4e8b\u5168\u4f53\u3092\u8cab\u304f\u8ad6\u70b9\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">\u7528\u8a9e\u30e1\u30e2\uff1a2024\u5e746\u6708\u671f\u306e\u300c\u5358\u4f53\u300d\u306e\u6570\u5b57\u306b\u6ce8\u610f \u4e0a\u5834\u7533\u8acb\u66f8\u985e\u3084\u682a\u4e3b\u7dcf\u4f1a\u306e\u62db\u96c6\u901a\u77e5\u306b\u8f09\u3063\u3066\u3044\u308b\u300c\u5358\u4f53\u300d\u306e5\u671f\u63a8\u79fb\u3067\u306f\u30012024\u5e746\u6708\u671f\u306e\u5f53\u671f\u7d14\u640d\u5931\u304c\u25b326.3\u5104\u5186\u306b\u306a\u3063\u3066\u3044\u307e\u3059\u3002\u540c\u3058\u5e74\u306e\u9023\u7d50\u6c7a\u7b97\u306f\u7d14\u5229\u76ca8.7\u5104\u5186\u3067\u3059\u3002\u3053\u308c\u306f\u3001\u5b50\u4f1a\u793e\u3060\u3063\u305f\u682a\u5f0f\u4f1a\u793eVPP Japan\u3092\u5438\u53ce\u5408\u4f75\u3057\u305f\u3068\u304d\u306b\u300c\u62b1\u5408\u305b\u682a\u5f0f\u6d88\u6ec5\u5dee\u640d\u300d\u3068\u3044\u3046\u4f1a\u8a08\u4e0a\u306e\u640d\u5931\u304c\u5358\u4f53\u306b\u3060\u3051\u51fa\u305f\u305f\u3081\u3067\u3001\u4e8b\u696d\u304c\u8d64\u5b57\u3060\u3063\u305f\u308f\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u8a3c\u5238\u30b5\u30a4\u30c8\u306b\u3088\u3063\u3066\u306f\u300c\u524d\u3005\u671f\u306f26\u5104\u5186\u306e\u8d64\u5b57\u300d\u3068\u8868\u793a\u3055\u308c\u308b\u3053\u3068\u304c\u3042\u308b\u306e\u3067\u3001\u9023\u7d50\u306e\u6570\u5b57\u3068\u8aad\u307f\u5206\u3051\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\">1-4. \u4f1a\u793e\u304c\u793a\u3057\u3066\u3044\u308b\u76ee\u6a19<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e2d\u671f\u7d4c\u55b6\u8a08\u753b\u306f\u516c\u8868\u3055\u308c\u3066\u3044\u307e\u305b\u3093\u3002\u4ee3\u308f\u308a\u306b\u3001\u4e0a\u5834\u6642\u3068\u6c7a\u7b97\u8aac\u660e\u4f1a\u3067\u793a\u3055\u308c\u305f\u6570\u5b57\u304c\u76ee\u5b89\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>2027\u5e746\u6708\u671f\u306e\u4f1a\u793e\u4e88\u60f3\uff1a\u58f2\u4e0a\u9ad8309.7\u5104\u5186\uff08\u524d\u671f\u6bd420.5%\u5897\uff09\u3001\u55b6\u696d\u5229\u76ca38.4\u5104\u5186\uff08\u540c7.3%\u5897\uff09\u3001\u7d14\u5229\u76ca21.4\u5104\u5186\uff08\u540c10.3%\u5897\uff09\u3001EBITDA61.8\u5104\u5186<\/li>\n\n\n\n<li>\u8cc7\u672c\u52b9\u7387\uff1aROE\u309220%\u5f37\u3067\u7dad\u6301\u3059\u308b\uff08\u8aac\u660e\u8cc7\u6599\u306e\u8a18\u8f09\uff09<\/li>\n\n\n\n<li>\u8ca1\u52d9\u898f\u5f8b\uff1a\u30cd\u30c3\u30c8D\/E\u30ec\u30b7\u30aa4.0\u500d\u3092\u76ee\u5b89\u306b\u501f\u5165\u3092\u4f7f\u3046\uff08\u540c\u4e0a\uff09<\/li>\n\n\n\n<li>\u65b0\u898f\u7a3c\u50cd\u306e\u3046\u30617\u5272\u4ee5\u4e0a\u3092\u30a2\u30e9\u30a4\u30a2\u30f3\u30b9\uff08\u4ed6\u793e\u4fdd\u6709\uff09\u306b\u3059\u308b\u65b9\u91dd<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u300c\u7387\u300d\u3060\u3051\u3067\u7d76\u5bfe\u984d\u306e\u76ee\u6a19\u304c\u306a\u3044\u306e\u306fROE\u3068D\/E\u3067\u3001\u65bd\u8a2d\u6570\u3084\u5bb9\u91cf\u306e\u4e2d\u671f\u76ee\u6a19\u3082\u6570\u5b57\u3067\u306f\u793a\u3055\u308c\u3066\u3044\u307e\u305b\u3093\u3002\u958b\u767a\u4f59\u5730\u3068\u3057\u3066\u300c\u73fe\u884c\u9867\u5ba2\u306e\u4fdd\u6709\u65bd\u8a2d2.3\u4e07\u3001\u4e2d\u30fb\u5927\u578b\u306e\u5c0f\u58f2\u30fb\u7269\u6d41\u65bd\u8a2d5\u4e07\u3001\u305d\u306e\u4ed6\u3092\u542b\u3081\u306610\u4e07\u65bd\u8a2d\u300d\u3068\u3044\u3046\u6bcd\u96c6\u56e3\u304c\u793a\u3055\u308c\u3066\u3044\u308b\u7a0b\u5ea6\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\">2. \u6c7a\u7b97\u30cf\u30a4\u30e9\u30a4\u30c8\uff1a\u8a08\u753b\u3092\u3059\u3079\u3066\u4e0a\u56de\u3063\u305f\u521d\u6c7a\u7b97<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">2-1. \u640d\u76ca\u306e\u5168\u4f53\u50cf<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u9805\u76ee\uff08\u767e\u4e07\u5186\uff09<\/th><th>2025\u5e746\u6708\u671f<\/th><th>\u4e0a\u5834\u6642\u306e\u8a08\u753b<\/th><th>2026\u5e746\u6708\u671f\u5b9f\u7e3e<\/th><th>\u524d\u671f\u6bd4<\/th><th>\u8a08\u753b\u6bd4<\/th><\/tr><\/thead><tbody><tr><td>\u58f2\u4e0a\u9ad8<\/td><td>22,939<\/td><td>25,464<\/td><td>25,699<\/td><td>+12.0%<\/td><td>100.9%<\/td><\/tr><tr><td>\u58f2\u4e0a\u7dcf\u5229\u76ca<\/td><td>6,059<\/td><td>6,686<\/td><td>7,046<\/td><td>+16.3%<\/td><td>105.4%<\/td><\/tr><tr><td>\u8ca9\u7ba1\u8cbb<\/td><td>2,919<\/td><td>3,448<\/td><td>3,465<\/td><td>+18.7%<\/td><td>100.5%<\/td><\/tr><tr><td>\u55b6\u696d\u5229\u76ca<\/td><td>3,139<\/td><td>3,238<\/td><td>3,581<\/td><td>+14.1%<\/td><td>110.6%<\/td><\/tr><tr><td>EBITDA<\/td><td>5,059<\/td><td>5,401<\/td><td>5,748<\/td><td>+13.6%<\/td><td>106.4%<\/td><\/tr><tr><td>\u7d4c\u5e38\u5229\u76ca<\/td><td>2,389<\/td><td>2,497<\/td><td>2,867<\/td><td>+20.0%<\/td><td>114.8%<\/td><\/tr><tr><td>\u5f53\u671f\u7d14\u5229\u76ca<\/td><td>1,595<\/td><td>1,723<\/td><td>1,940<\/td><td>+21.6%<\/td><td>112.6%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u51fa\u5178\uff1a\u6c7a\u7b97\u77ed\u4fe1\uff082026\u5e748\u670814\u65e5\uff09\u3001\u4e0a\u5834\u6642\u306e\u300c\u6c7a\u7b97\u60c5\u5831\u7b49\u306e\u304a\u77e5\u3089\u305b\u300d\uff082026\u5e747\u670829\u65e5\uff09\u3002\u8a08\u753b\u6bd4\u306f\u7b46\u8005\u306e\u6982\u7b97\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u8868\u306e\u30dd\u30a4\u30f3\u30c8\u306f2\u3064\u3067\u3059\u30021\u3064\u76ee\u306f\u3001<strong>\u58f2\u4e0a\u306f\u307b\u307c\u8a08\u753b\u3069\u304a\u308a\uff08100.9%\uff09\u306a\u306e\u306b\u3001\u5229\u76ca\u306f\u6bb5\u968e\u304c\u4e0b\u306b\u884c\u304f\u307b\u3069\u4e0a\u632f\u308c\u5e45\u304c\u5927\u304d\u3044<\/strong>\u3053\u3068\u3002\u58f2\u4e0a\u7dcf\u5229\u76ca\u30675.4%\u3001\u55b6\u696d\u5229\u76ca\u306710.6%\u3001\u7d4c\u5e38\u5229\u76ca\u306714.8%\u306e\u4e0a\u632f\u308c\u3067\u3059\u3002\u58f2\u4e0a\u539f\u4fa1\u3068\u55b6\u696d\u5916\u8cbb\u7528\uff08\u4e3b\u306b\u652f\u6255\u5229\u606f\uff09\u304c\u8a08\u753b\u3088\u308a\u6291\u3048\u3089\u308c\u307e\u3057\u305f\u30022\u3064\u76ee\u306f\u3001<strong>\u4e0a\u5834\u304b\u3089\u308f\u305a\u304b2\u9031\u9593\u5f8c\u306b\u51fa\u305f\u6c7a\u7b97\u3067\u3001\u4e0a\u5834\u6642\u306e\u8a08\u753b\u3092\u4e0a\u56de\u3063\u305f<\/strong>\u3053\u3068\u3067\u3059\u3002\u4e0a\u5834\u6642\u306e\u8a08\u753b\u306f2026\u5e744\u6708\u306b\u7b56\u5b9a\u3055\u308c\u30017\u6708\u307e\u3067\u5b9f\u7e3e\u3092\u898b\u305f\u4e0a\u3067\u516c\u8868\u3055\u308c\u3066\u3044\u308b\u306e\u3067\u3001\u3082\u3068\u3082\u3068\u4e0b\u632f\u308c\u3057\u306b\u304f\u3044\u8a08\u753b\u3060\u3063\u305f\u3068\u3082\u8aad\u3081\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f1a\u793e\u306f8\u670821\u65e5\u306b\u516c\u8868\u3057\u305fQ&amp;A\u3067\u3001\u4e0a\u632f\u308c\u8981\u56e0\u3092\u300cGX\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u4e8b\u696d\u306e\u4e3b\u529b3\u30b5\u30fc\u30d3\u30b9\u304c\u305d\u308c\u305e\u308c\u8a08\u753b\u3092\u4e0a\u56de\u3063\u305f\u300d\u3068\u8aac\u660e\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">\u7528\u8a9e\u30e1\u30e2\uff1aEBITDA \u55b6\u696d\u5229\u76ca\u306b\u6e1b\u4fa1\u511f\u5374\u8cbb\u3068\u306e\u308c\u3093\u511f\u5374\u8cbb\u3092\u8db3\u3057\u623b\u3057\u305f\u5229\u76ca\u3067\u3059\u3002\u3053\u306e\u4f1a\u793e\u306f\u592a\u967d\u5149\u8a2d\u5099\u309220\u5e74\u3067\u511f\u5374\u3057\u3066\u3044\u308b\u305f\u3081\u3001\u6e1b\u4fa1\u511f\u5374\u8cbb\u304c\u5e74\u959321.4\u5104\u5186\uff08\u58f2\u4e0a\u306e8%\uff09\u3042\u308a\u307e\u3059\u3002\u4f1a\u793e\u306f\u300c\u30ad\u30e3\u30c3\u30b7\u30e5\u306e\u5275\u51fa\u5b9f\u614b\u306b\u8fd1\u3044\u6307\u6a19\u300d\u3068\u3057\u3066EBITDA\u3092\u91cd\u8996\u3057\u3066\u3044\u307e\u3059\u3002\u305f\u3060\u3057\u3001EBITDA\u306b\u306f\u652f\u6255\u5229\u606f\uff086.7\u5104\u5186\uff09\u3082\u7a0e\u91d1\uff089.0\u5104\u5186\uff09\u3082\u542b\u307e\u308c\u3066\u3044\u307e\u305b\u3093\u3002EBITDA57\u5104\u5186\u3068\u7d14\u5229\u76ca19\u5104\u5186\u306e\u5dee\u306f\u3001\u6e1b\u4fa1\u511f\u537421.7\u5104\u5186\uff0b\u652f\u6255\u5229\u606f\u7b497.1\u5104\u5186\uff0b\u7a0e\u91d19.0\u5104\u5186\u3067\u307b\u307c\u8aac\u660e\u304c\u3064\u304d\u307e\u3059\u3002\u300cEBITDA57\u5104\u5186\u306e\u4f1a\u793e\u300d\u3068\u300c\u7d14\u5229\u76ca19\u5104\u5186\u306e\u4f1a\u793e\u300d\u306f\u540c\u3058\u4f1a\u793e\u3067\u3059\u3002<\/p>\n<\/blockquote>\n\n\n\n<h3 class=\"wp-block-heading\">2-2. \u30bb\u30b0\u30e1\u30f3\u30c8\u5225<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u30bb\u30b0\u30e1\u30f3\u30c8\uff08\u767e\u4e07\u5186\uff09<\/th><th>\u58f2\u4e0a\u9ad8<\/th><th>\u524d\u671f\u6bd4<\/th><th>\u30bb\u30b0\u30e1\u30f3\u30c8\u5229\u76ca<\/th><th>\u524d\u671f\u6bd4<\/th><th>\u58f2\u4e0a\u7dcf\u5229\u76ca\u7387<\/th><\/tr><\/thead><tbody><tr><td>GX\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3<\/td><td>13,713<\/td><td>+53.7%<\/td><td>2,843<\/td><td>+51.0%<\/td><td>32.3%<\/td><\/tr><tr><td>\u30a8\u30ca\u30b8\u30fc\u30c8\u30ec\u30fc\u30c7\u30a3\u30f3\u30b0<\/td><td>12,232<\/td><td>\u25b314.0%<\/td><td>2,024<\/td><td>\u25b311.6%<\/td><td>21.4%<\/td><\/tr><tr><td>\u8abf\u6574\u984d<\/td><td>\u25b3246<\/td><td>\u2014<\/td><td>\u25b31,286<\/td><td>\u2014<\/td><td>\u2014<\/td><\/tr><tr><td>\u5168\u793e<\/td><td>25,699<\/td><td>+12.0%<\/td><td>3,581<\/td><td>+14.1%<\/td><td>27.4%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u51fa\u5178\uff1a\u6c7a\u7b97\u77ed\u4fe1\u30bb\u30b0\u30e1\u30f3\u30c8\u60c5\u5831\uff08\u58f2\u4e0a\u9ad8\u306f\u30bb\u30b0\u30e1\u30f3\u30c8\u9593\u53d6\u5f15\u3092\u542b\u3080\uff09\u3002\u58f2\u4e0a\u7dcf\u5229\u76ca\u7387\u306f\u6c7a\u7b97\u8aac\u660e\u8cc7\u6599\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u5168\u793e\u306e\u58f2\u4e0a\u306f12%\u5897\u3067\u3059\u304c\u3001\u7247\u65b9\u306f54%\u5897\u3001\u3082\u3046\u7247\u65b9\u306f14%\u6e1b\u306e\u5408\u6210\u3067\u3059\u3002<\/strong> GX\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u4e8b\u696d\uff08\u5c4b\u6839\u306e\u4e0a\u306e\u767a\u96fb\u6240\uff09\u304c\u4f38\u3073\u3001\u30a8\u30ca\u30b8\u30fc\u30c8\u30ec\u30fc\u30c7\u30a3\u30f3\u30b0\u4e8b\u696d\uff08\u96fb\u529b\u5c0f\u58f2\uff09\u306f\u7e2e\u3093\u3067\u3044\u307e\u3059\u3002\u96fb\u529b\u5c0f\u58f2\u306e\u7e2e\u5c0f\u306f\u3001\u4f1a\u793e\u304c2022\u5e746\u6708\u671f\u4ee5\u964d\u306b\u7a4d\u6975\u7684\u306a\u55b6\u696d\u3092\u3057\u3066\u3044\u306a\u3044\u305f\u3081\u3067\u3001\u8ca9\u58f2\u96fb\u529b\u91cf\u306f8.9\u5104kWh\uff082022\u5e746\u6708\u671f\uff09\u304b\u30894.1\u5104kWh\uff082026\u5e746\u6708\u671f\uff09\u307e\u3067\u6e1b\u3063\u3066\u3044\u307e\u3059\u3002\u300c\u58f2\u4e0a12%\u5897\u300d\u3060\u3051\u3092\u898b\u308b\u3068\u5e73\u51e1\u306b\u898b\u3048\u307e\u3059\u304c\u3001\u4e2d\u8eab\u306f\u300c\u5229\u76ca\u7387\u306e\u9ad8\u3044\u4e8b\u696d\u304c5\u5272\u4f38\u3073\u3066\u3001\u8584\u5229\u306e\u4e8b\u696d\u304c\u7e2e\u3093\u3060\u300d\u3068\u3044\u3046\u69cb\u6210\u5909\u5316\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2-3. \u56db\u534a\u671f\u306b\u5206\u89e3\u3059\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e0a\u5834\u521d\u5e74\u5ea6\u306a\u306e\u3067\u524d\u5e74\u540c\u671f\u306e\u56db\u534a\u671f\u6570\u5024\u304c\u306a\u304f\u3001\u9032\u6357\u7387\u3092\u524d\u5e74\u3068\u4e26\u3079\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u305b\u3093\u3002\u4ee3\u308f\u308a\u306b\u3001\u901a\u671f\u304b\u3089\u4e2d\u9593\u671f\u30fb\u7b2c3\u56db\u534a\u671f\u7d2f\u8a08\u3092\u5dee\u3057\u5f15\u3044\u3066\u3001\u56db\u534a\u671f\u3054\u3068\u306e\u59ff\u3092\u7b46\u8005\u304c\u4e26\u3079\u307e\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u56db\u534a\u671f\uff08\u767e\u4e07\u5186\uff09<\/th><th>\u58f2\u4e0a\u9ad8<\/th><th>\u55b6\u696d\u5229\u76ca<\/th><th>\u7d4c\u5e38\u5229\u76ca<\/th><th>\u7d14\u5229\u76ca<\/th><th>\u58f2\u4e0a\u69cb\u6210\u6bd4<\/th><\/tr><\/thead><tbody><tr><td>\u4e0a\u671f\uff087\u301c12\u6708\uff09<\/td><td>11,482<\/td><td>1,645<\/td><td>1,295<\/td><td>920<\/td><td>44.7%<\/td><\/tr><tr><td>\u7b2c3\u56db\u534a\u671f\uff081\u301c3\u6708\uff09<\/td><td>7,062<\/td><td>1,009<\/td><td>837<\/td><td>580<\/td><td>27.5%<\/td><\/tr><tr><td>\u7b2c4\u56db\u534a\u671f\uff084\u301c6\u6708\uff09<\/td><td>7,157<\/td><td>928<\/td><td>736<\/td><td>441<\/td><td>27.8%<\/td><\/tr><tr><td>\u901a\u671f<\/td><td>25,699<\/td><td>3,581<\/td><td>2,867<\/td><td>1,940<\/td><td>100%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u51fa\u5178\uff1a\u4e2d\u9593\u671f\u306f\u4e0a\u5834\u7533\u8acb\u66f8\u985e\u3001\u7b2c3\u56db\u534a\u671f\u7d2f\u8a08\u306f\u4e0a\u5834\u65e5\u306e\u77ed\u4fe1\u3001\u901a\u671f\u306f\u6c7a\u7b97\u77ed\u4fe1\u3002\u7b2c3\u56db\u534a\u671f\u5358\u72ec\u3068\u7b2c4\u56db\u534a\u671f\u5358\u72ec\u306f\u7b46\u8005\u306e\u5dee\u3057\u5f15\u304d\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u3053\u3067\u62fe\u3063\u3066\u304a\u304d\u305f\u3044\u306e\u304c\u3001<strong>\u7b2c4\u56db\u534a\u671f\u306e\u7d14\u5229\u76ca\u304c441\u767e\u4e07\u5186\u3068\u3001\u7d4c\u5e38\u5229\u76ca736\u767e\u4e07\u5186\u306b\u5bfe\u3057\u3066\u5c0f\u3055\u3044\u3053\u3068<\/strong>\u3067\u3059\u3002\u7b2c3\u56db\u534a\u671f\u7d2f\u8a08\u306e\u7a0e\u8ca0\u62c5\u7387\u306f29.1%\u3067\u3057\u305f\u304c\u3001\u7b2c4\u56db\u534a\u671f\u5358\u72ec\u3067\u9006\u7b97\u3059\u308b\u306839.7%\u306b\u306a\u308a\u307e\u3059\uff08\u7b46\u8005\u306e\u6982\u7b97\uff09\u3002\u901a\u671f\u3067\u306f31.8%\u3067\u3059\u3002\u7b2c4\u56db\u534a\u671f\u306b\u7a0e\u8ca0\u62c5\u304c\u91cd\u304f\u306a\u3063\u305f\u7406\u7531\u306f\u77ed\u4fe1\u306b\u8aac\u660e\u304c\u306a\u304f\u3001\u7a0e\u52b9\u679c\u306e\u8abf\u6574\u304b\u4e00\u904e\u6027\u306e\u8cbb\u7528\u304b\u306f\u6709\u4fa1\u8a3c\u5238\u5831\u544a\u66f8\uff089\u670818\u65e5\u63d0\u51fa\u4e88\u5b9a\uff09\u306e\u7a0e\u52b9\u679c\u6ce8\u8a18\u3067\u78ba\u8a8d\u3059\u308b\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f1a\u793e\u306f\u5b63\u7bc0\u6027\u306b\u3064\u3044\u3066\u3001GX\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u4e8b\u696d\u306f\u5de5\u4e8b\u3057\u3084\u3059\u3044\u7b2c2\u56db\u534a\u671f\uff0810\u301c12\u6708\uff09\u3068\u7b2c4\u56db\u534a\u671f\uff084\u301c6\u6708\uff09\u3001\u30a8\u30ca\u30b8\u30fc\u30c8\u30ec\u30fc\u30c7\u30a3\u30f3\u30b0\u4e8b\u696d\u306f\u96fb\u529b\u9700\u8981\u306e\u591a\u3044\u7b2c1\u56db\u534a\u671f\uff087\u301c9\u6708\uff09\u3068\u7b2c3\u56db\u534a\u671f\uff081\u301c3\u6708\uff09\u306b\u58f2\u4e0a\u304c\u504f\u308b\u3068\u8aac\u660e\u3057\u3066\u3044\u307e\u3059\u3002GX\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u4e8b\u696d\u306e\u58f2\u4e0a\u306f\u7b2c4\u56db\u534a\u671f\u5358\u72ec\u30674,565\u767e\u4e07\u5186\u3068\u901a\u671f\u306e33.3%\u3092\u5360\u3081\u3001\u8aac\u660e\u3069\u304a\u308a\u306e\u504f\u308a\u304c\u51fa\u3066\u3044\u307e\u3059\u3002<strong>2027\u5e746\u6708\u671f\u306e\u7b2c1\u56db\u534a\u671f\uff087\u301c9\u6708\uff09\u306f\u3001GX\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u4e8b\u696d\u306e\u9591\u6563\u671f\u306b\u5f53\u305f\u308b<\/strong>\u306e\u3067\u300111\u6708\u9803\u306b\u51fa\u308b\u7b2c1\u56db\u534a\u671f\u6c7a\u7b97\u3060\u3051\u3067\u901a\u671f\u306e\u9032\u6357\u3092\u5224\u65ad\u3059\u308b\u3068\u3001\u5b9f\u614b\u3088\u308a\u5f31\u304f\u898b\u3048\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2-4. \u8ca1\u653f\u72b6\u614b<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u8cb8\u501f\u5bfe\u7167\u8868\uff08\u767e\u4e07\u5186\uff09<\/th><th>2025\u5e746\u6708\u672b<\/th><th>2026\u5e746\u6708\u672b<\/th><th>\u5897\u6e1b<\/th><\/tr><\/thead><tbody><tr><td>\u73fe\u91d1\u53ca\u3073\u9810\u91d1<\/td><td>6,106<\/td><td>7,299<\/td><td>+1,193<\/td><\/tr><tr><td>\u58f2\u639b\u91d1\u53ca\u3073\u5951\u7d04\u8cc7\u7523<\/td><td>4,296<\/td><td>4,699<\/td><td>+402<\/td><\/tr><tr><td>\u6a5f\u68b0\u53ca\u3073\u88c5\u7f6e\uff08\u592a\u967d\u5149\u8a2d\u5099\uff09<\/td><td>19,584<\/td><td>21,289<\/td><td>+1,705<\/td><\/tr><tr><td>\u30ea\u30fc\u30b9\u8cc7\u7523<\/td><td>8,423<\/td><td>8,264<\/td><td>\u25b3159<\/td><\/tr><tr><td>\u7dcf\u8cc7\u7523<\/td><td>41,674<\/td><td>44,294<\/td><td>+2,620<\/td><\/tr><tr><td>\u6709\u5229\u5b50\u8ca0\u50b5\uff08\u501f\u5165\uff0b\u30ea\u30fc\u30b9\uff09<\/td><td>27,390<\/td><td>26,538<\/td><td>\u25b3852<\/td><\/tr><tr><td>\u8cc7\u7523\u9664\u53bb\u50b5\u52d9<\/td><td>3,403<\/td><td>4,240<\/td><td>+838<\/td><\/tr><tr><td>\u7d14\u8cc7\u7523<\/td><td>6,592<\/td><td>8,532<\/td><td>+1,940<\/td><\/tr><tr><td>\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387<\/td><td>15.8%<\/td><td>19.3%<\/td><td>+3.5pt<\/td><\/tr><tr><td>\u30cd\u30c3\u30c8D\/E\u30ec\u30b7\u30aa<\/td><td>3.2\u500d<\/td><td>2.3\u500d<\/td><td>\u2014<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u51fa\u5178\uff1a\u6c7a\u7b97\u77ed\u4fe1\u3002\u6709\u5229\u5b50\u8ca0\u50b5\u306f\u77ed\u671f\u501f\u5165\u91d1\uff0b1\u5e74\u5185\u8fd4\u6e08\u4e88\u5b9a\u306e\u9577\u671f\u501f\u5165\u91d1\uff0b\u30ea\u30fc\u30b9\u50b5\u52d9\uff08\u6d41\u52d5\u30fb\u56fa\u5b9a\uff09\uff0b\u9577\u671f\u501f\u5165\u91d1\uff08\u4f1a\u793e\u5b9a\u7fa9\u306eNet Debt\u3068\u540c\u3058\u7bc4\u56f2\uff09\u30022025\u5e746\u6708\u672b\u306e\u6709\u5229\u5b50\u8ca0\u50b5\u306f\u8aac\u660e\u8cc7\u6599\u306e\u77ed\u671f\u30fb\u9577\u671f\u6709\u5229\u5b50\u8ca0\u50b5\u306e\u5408\u8a08\u3002\u30cd\u30c3\u30c8D\/E\u306f\u7b46\u8005\u306e\u6982\u7b97\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u3053\u306e\u8cb8\u501f\u5bfe\u7167\u8868\u306f\u4e0a\u5834\u524d\u306e\u3082\u306e\u3067\u3059\u3002<\/strong> \u516c\u52df\u5897\u8cc7\u306e\u6255\u8fbc\u306f7\u670828\u65e5\u3001\u30aa\u30fc\u30d0\u30fc\u30a2\u30ed\u30c3\u30c8\u30e1\u30f3\u30c8\u5206\u306e\u6255\u8fbc\u306f8\u670826\u65e5\u3067\u3001\u3069\u3061\u3089\u30826\u6708\u672b\u306e\u5f8c\u3067\u3059\u3002\u4e0a\u5834\u5f8c\u306e\u59ff\u3092\u6982\u7b97\u3059\u308b\u3068\u3001\u7d14\u8cc7\u7523\u306f\u624b\u53d6\u91d130.2\u5104\u5186\u304c\u4e57\u3063\u3066115.6\u5104\u5186\u3001\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u306f24%\u53f0\u3001\u30cd\u30c3\u30c8D\/E\u30ec\u30b7\u30aa\u306f1.4\u500d\u7a0b\u5ea6\u306b\u306a\u308a\u307e\u3059\uff08\u7b46\u8005\u306e\u8a66\u7b97\u3002\u7b2c5\u7ae0\u3067\u8a73\u8ff0\uff09\u3002\u8a3c\u5238\u30b5\u30a4\u30c8\u306b\u51fa\u3066\u3044\u308b\u81ea\u5df1\u8cc7\u672c\u6bd4\u738719.3%\u3084PBR\u306f\u3001\u3053\u306e\u4e0a\u5834\u524d\u306e\u6570\u5b57\u3067\u8a08\u7b97\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8cb8\u501f\u5bfe\u7167\u8868\u306e\u9685\u3067\u62fe\u3063\u3066\u304a\u304d\u305f\u3044\u6570\u5b57\u304c\u300c\u8cc7\u7523\u9664\u53bb\u50b5\u52d9\u300d\u3067\u3059\u3002\u5c4b\u6839\u306b\u7f6e\u3044\u305f\u8a2d\u5099\u306f\u5951\u7d04\u304c\u7d42\u308f\u3063\u305f\u3089\u64a4\u53bb\u3057\u3066\u539f\u72b6\u56de\u5fa9\u3059\u308b\u7fa9\u52d9\u304c\u3042\u308a\u3001\u305d\u306e\u5c06\u6765\u8cbb\u7528\u3092\u898b\u7a4d\u3082\u3063\u3066\u8ca0\u50b5\u306b\u8a08\u4e0a\u3057\u307e\u3059\u30022026\u5e746\u6708\u671f\u306b\u3053\u306e\u898b\u7a4d\u308a\u3092\u898b\u76f4\u3057\u30016.0\u5104\u5186\u5897\u3084\u3057\u307e\u3057\u305f\uff08\u640d\u76ca\u3078\u306e\u5f71\u97ff\u306f\u306a\u3057\uff09\u3002\u6b8b\u9ad842\u5104\u5186\u306f\u7dcf\u8cc7\u7523\u306e9.6%\u3001\u7d14\u8cc7\u7523\u306e\u534a\u5206\u306b\u5f53\u305f\u308a\u307e\u3059\u3002\u8a2d\u5099\u3092\u5897\u3084\u305b\u3070\u5897\u3084\u3059\u307b\u3069\u81a8\u3089\u3080\u8ca0\u50b5\u3067\u3001\u64a4\u53bb\u8cbb\u7528\u306e\u5358\u4fa1\u304c\u4e0a\u304c\u308c\u3070\u898b\u7a4d\u308a\u306f\u3055\u3089\u306b\u5897\u3048\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2-5. \u30ad\u30e3\u30c3\u30b7\u30e5\u30fb\u30d5\u30ed\u30fc<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u30ad\u30e3\u30c3\u30b7\u30e5\u30fb\u30d5\u30ed\u30fc\uff08\u767e\u4e07\u5186\uff09<\/th><th>2025\u5e746\u6708\u671f<\/th><th>2026\u5e746\u6708\u671f<\/th><\/tr><\/thead><tbody><tr><td>\u55b6\u696dCF<\/td><td>4,634<\/td><td>4,451<\/td><\/tr><tr><td>\u6295\u8cc7CF<\/td><td>\u25b34,764<\/td><td>\u25b32,755<\/td><\/tr><tr><td>\u3046\u3061\u6709\u5f62\u30fb\u7121\u5f62\u56fa\u5b9a\u8cc7\u7523\u306e\u53d6\u5f97<\/td><td>\u25b34,899<\/td><td>\u25b32,983<\/td><\/tr><tr><td>\u8ca1\u52d9CF<\/td><td>2,422<\/td><td>\u25b3490<\/td><\/tr><tr><td>\u3046\u3061\u30bb\u30fc\u30eb\u30fb\u30a2\u30f3\u30c9\u30fb\u30ea\u30fc\u30b9\u30d0\u30c3\u30af\u53ce\u5165<\/td><td>3,620<\/td><td>645<\/td><\/tr><tr><td>\u73fe\u91d1\u540c\u7b49\u7269\u671f\u672b\u6b8b\u9ad8<\/td><td>5,214<\/td><td>6,421<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u51fa\u5178\uff1a\u6c7a\u7b97\u77ed\u4fe1\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u904e\u53bb\u6700\u9ad8\u76ca\u306a\u306e\u306b\u55b6\u696dCF\u306f\u524d\u671f\u3088\u308a\u6e1b\u3063\u3066\u3044\u307e\u3059<\/strong>\uff0846.3\u5104\u5186\u219244.5\u5104\u5186\uff09\u3002\u58f2\u4e0a\u50b5\u6a29\u3068\u68da\u5378\u8cc7\u7523\u304c\u5897\u3048\u3001\u6cd5\u4eba\u7a0e\u306e\u652f\u6255\u3044\u304c3.7\u5104\u5186\u304b\u30899.2\u5104\u5186\u306b\u5897\u3048\u305f\u305f\u3081\u3067\u3059\u3002\u4e00\u65b9\u3067\u8a2d\u5099\u6295\u8cc7\u304c49\u5104\u5186\u304b\u308930\u5104\u5186\u306b\u6e1b\u3063\u305f\u306e\u3067\u3001\u55b6\u696dCF\u304b\u3089\u8a2d\u5099\u6295\u8cc7\u3092\u5f15\u3044\u305f\u624b\u6b8b\u308a\u306f\u25b32.7\u5104\u5186\u304b\u3089\uff0b14.7\u5104\u5186\u3078\u6539\u5584\u3057\u307e\u3057\u305f\uff08\u7b46\u8005\u306e\u6982\u7b97\uff09\u3002\u305f\u3060\u3057\u3001\u8a2d\u5099\u6295\u8cc7\u304c\u6e1b\u3063\u305f\u306e\u306f\u300c\u81ea\u8ca9\u6a5f\u3092\u81ea\u5206\u3067\u8cb7\u3046\u91cf\u3092\u6e1b\u3089\u3057\u3066\u3001\u4ed6\u793e\u306b\u8cb7\u3063\u3066\u3082\u3089\u3046\u91cf\u3092\u5897\u3084\u3057\u305f\u300d\u304b\u3089\u3067\u3001\u4e8b\u696d\u898f\u6a21\u304c\u7e2e\u3093\u3060\u308f\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u3053\u306e\u70b9\u306f\u6b21\u306e\u7ae0\u3067\u6271\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">\u7528\u8a9e\u30e1\u30e2\uff1a\u30bb\u30fc\u30eb\u30fb\u30a2\u30f3\u30c9\u30fb\u30ea\u30fc\u30b9\u30d0\u30c3\u30af \u81ea\u5206\u3067\u4f5c\u3063\u305f\u8a2d\u5099\u3092\u3044\u3063\u305f\u3093\u30ea\u30fc\u30b9\u4f1a\u793e\u306b\u58f2\u308a\u3001\u305d\u306e\u8a2d\u5099\u3092\u501f\u308a\u76f4\u3057\u3066\u4f7f\u3044\u7d9a\u3051\u308b\u53d6\u5f15\u3067\u3059\u3002\u8a2d\u5099\u306f\u624b\u5143\u306b\u6b8b\u3063\u305f\u307e\u307e\u73fe\u91d1\u304c\u5165\u308b\u306e\u3067\u3001\u5b9f\u8cea\u7684\u306b\u306f\u501f\u5165\u306e\u4e00\u7a2e\u3067\u3059\u3002\u3053\u306e\u4f1a\u793e\u306f2025\u5e746\u6708\u671f\u306b36\u5104\u5186\u30012026\u5e746\u6708\u671f\u306b6.5\u5104\u5186\u3092\u3053\u306e\u65b9\u6cd5\u3067\u8abf\u9054\u3057\u3066\u3044\u307e\u3059\u3002\u8cb8\u501f\u5bfe\u7167\u8868\u306e\u300c\u30ea\u30fc\u30b9\u8cc7\u7523\u300d83\u5104\u5186\u3068\u300c\u30ea\u30fc\u30b9\u50b5\u52d9\u300d78\u5104\u5186\u306f\u3001\u305d\u306e\u7a4d\u307f\u4e0a\u304c\u308a\u3067\u3059\u3002<\/p>\n<\/blockquote>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">3. \u6df1\u6398\u308a\uff1a\u300c\u81ea\u8ca9\u6a5f\u3092\u58f2\u308b\u300d\u3068\u300c\u81ea\u8ca9\u6a5f\u3092\u6301\u3064\u300d\u3067\u3001\u5132\u3051\u65b9\u306f\u3069\u3046\u9055\u3046\u304b<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u6c7a\u7b97\u3067\u4e00\u756a\u308f\u304b\u308a\u306b\u304f\u304f\u3001\u4e00\u756a\u5927\u4e8b\u306a\u306e\u306f\u3001GX\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u4e8b\u696d\u306e\u4e2d\u8eab\u304c3\u3064\u306e\u30b5\u30fc\u30d3\u30b9\u306b\u5206\u304b\u308c\u3066\u3044\u3066\u3001\u305d\u308c\u305e\u308c\u5132\u3051\u65b9\u3082\u5229\u76ca\u7387\u3082\u9055\u3046\u3053\u3068\u3067\u3059\u3002\u4f1a\u793e\u306f\u8aac\u660e\u8cc7\u6599\u3067\u30b5\u30fc\u30d3\u30b9\u5225\u306e\u58f2\u4e0a\u9ad8\u3068\u58f2\u4e0a\u7dcf\u5229\u76ca\u3092\u958b\u793a\u3057\u3066\u3044\u308b\u306e\u3067\u3001\u305d\u3053\u304b\u3089\u300c1MW\u3042\u305f\u308a\u300d\u300c\u7c97\u5229\u7387\u300d\u3067\u8aad\u307f\u89e3\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3-1. \u30b5\u30fc\u30d3\u30b9\u5225\u306e\u58f2\u4e0a\u7dcf\u5229\u76ca\u7387<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>GX\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u4e8b\u696d\u306e\u5185\u8a33\uff08\u767e\u4e07\u5186\uff09<\/th><th>2025\u5e746\u6708\u671f \u58f2\u4e0a<\/th><th>\u540c \u7c97\u5229<\/th><th>\u7c97\u5229\u7387<\/th><th>2026\u5e746\u6708\u671f \u58f2\u4e0a<\/th><th>\u540c \u7c97\u5229<\/th><th>\u7c97\u5229\u7387<\/th><\/tr><\/thead><tbody><tr><td>PPA\u30b5\u30fc\u30d3\u30b9\u53ca\u3073\u305d\u306e\u4ed6\uff08\u81ea\u793e\u4fdd\u6709\u30fb\u30b9\u30c8\u30c3\u30af\uff09<\/td><td>3,809<\/td><td>1,349<\/td><td>35.4%<\/td><td>4,140<\/td><td>1,445<\/td><td>34.9%<\/td><\/tr><tr><td>\u30a2\u30e9\u30a4\u30a2\u30f3\u30b9\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\uff08\u4ed6\u793e\u4fdd\u6709\u30fb\u30d5\u30ed\u30fc\uff09<\/td><td>3,602<\/td><td>1,033<\/td><td>28.7%<\/td><td>7,740<\/td><td>1,937<\/td><td>25.0%<\/td><\/tr><tr><td>\u30a4\u30f3\u30c6\u30b0\u30ec\u30fc\u30b7\u30e7\u30f3\u30b5\u30fc\u30d3\u30b9\uff08\u9867\u5ba2\u4fdd\u6709\u30fb\u30d5\u30ed\u30fc\uff09<\/td><td>1,508<\/td><td>858<\/td><td>56.9%<\/td><td>1,833<\/td><td>1,047<\/td><td>57.1%<\/td><\/tr><tr><td>GX\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u4e8b\u696d\u8a08<\/td><td>8,920<\/td><td>3,240<\/td><td>36.3%<\/td><td>13,713<\/td><td>4,429<\/td><td>32.3%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u51fa\u5178\uff1a\u6c7a\u7b97\u8aac\u660e\u8cc7\u6599\u306e\u30b5\u30fc\u30d3\u30b9\u5225\u6570\u5024\u3092\u8ee2\u8a18\u3002\u7c97\u5229\u7387\u306f\u7b46\u8005\u306e\u6982\u7b97\u3002\u691c\u7b97\uff1a3\u30b5\u30fc\u30d3\u30b9\u306e\u7c97\u5229\u3092\u8db3\u3059\u30681,445\uff0b1,937\uff0b1,047\uff1d4,429\u767e\u4e07\u5186\u3067\u3001\u30bb\u30b0\u30e1\u30f3\u30c8\u7c97\u52294,429\u767e\u4e07\u5186\u3068\u4e00\u81f4\u3057\u307e\u3059\u3002\u58f2\u4e0a\u30824,140\uff0b7,740\uff0b1,833\uff1d13,713\u767e\u4e07\u5186\u3067\u4e00\u81f4\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8aad\u307f\u65b9\u306f\u3053\u3046\u3067\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>PPA\u30b5\u30fc\u30d3\u30b9<\/strong>\uff08\u81ea\u8ca9\u6a5f\u3092\u81ea\u5206\u3067\u6301\u3064\uff09\uff1a\u58f2\u4e0a\u306e3\u5206\u306e1\u304c\u7c97\u5229\u3068\u3057\u3066\u6b8b\u308b\u3002\u305f\u3060\u3057\u8a2d\u5099\u3092\u6301\u3064\u306e\u3067\u6e1b\u4fa1\u511f\u5374\u8cbb\u3068\u652f\u6255\u5229\u606f\u304c\u3053\u306e\u5f8c\u306b\u304b\u304b\u308b<\/li>\n\n\n\n<li><strong>\u30a2\u30e9\u30a4\u30a2\u30f3\u30b9\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3<\/strong>\uff08\u81ea\u8ca9\u6a5f\u3092\u4f5c\u3063\u3066\u4ed6\u793e\u306b\u58f2\u308b\uff09\uff1a\u7c97\u5229\u738725%\u3002\u8a2d\u5099\u6295\u8cc7\u306f\u4e0d\u8981\u3067\u3001\u5b8c\u6210\u6642\u306b\u4e00\u62ec\u3067\u53ce\u76ca\u304c\u7acb\u3064\u30022026\u5e746\u6708\u671f\u306f\u58f2\u4e0a\u304c2.1\u500d\u306b\u306a\u308a\u3001GX\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u4e8b\u696d\u306e\u6210\u9577\u306e\u5927\u534a\u3092\u3053\u308c\u304c\u62c5\u3063\u305f<\/li>\n\n\n\n<li><strong>\u30a4\u30f3\u30c6\u30b0\u30ec\u30fc\u30b7\u30e7\u30f3\u30b5\u30fc\u30d3\u30b9<\/strong>\uff08\u9867\u5ba2\u304c\u81ea\u8ca9\u6a5f\u3092\u8cb7\u3044\u3001\u8a2d\u7f6e\u3084\u84c4\u96fb\u6c60\u306e\u5236\u5fa1\u3092\u8acb\u3051\u8ca0\u3046\uff09\uff1a\u7c97\u5229\u738757%\u3068\u6700\u3082\u9ad8\u3044\u304c\u898f\u6a21\u306f\u5c0f\u3055\u3044<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>GX\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u4e8b\u696d\u5168\u4f53\u306e\u7c97\u5229\u7387\u304c36.3%\u304b\u308932.3%\u306b4\u30dd\u30a4\u30f3\u30c8\u4e0b\u304c\u3063\u305f\u306e\u306f\u3001\u7c97\u5229\u738725%\u306e\u30a2\u30e9\u30a4\u30a2\u30f3\u30b9\u306e\u6bd4\u7387\u304c\u4e0a\u304c\u3063\u305f\u305f\u3081\u3067\u3059\u3002<\/strong> \u5404\u30b5\u30fc\u30d3\u30b9\u306e\u7c97\u5229\u7387\u81ea\u4f53\u306f\u5927\u304d\u304f\u52d5\u3044\u3066\u3044\u307e\u305b\u3093\uff08\u4f1a\u793e\u3082Q&amp;A\u3067\u300c\u30b5\u30fc\u30d3\u30b9\u3054\u3068\u306e\u7c97\u5229\u7387\u306b\u5927\u304d\u306a\u5909\u52d5\u306f\u898b\u8fbc\u3093\u3067\u3044\u306a\u3044\u300d\u3068\u3057\u3066\u3044\u307e\u3059\uff09\u3002\u3053\u308c\u306f\u30df\u30c3\u30af\u30b9\u306e\u554f\u984c\u3067\u3042\u3063\u3066\u3001\u5024\u5f15\u304d\u3084\u63a1\u7b97\u60aa\u5316\u306e\u554f\u984c\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u540c\u3058\u7406\u5c48\u3067\u30012027\u5e746\u6708\u671f\u306e\u4f1a\u793e\u4e88\u60f3\u306f\u58f2\u4e0a\u304c20.5%\u5897\u306a\u306e\u306b\u55b6\u696d\u5229\u76ca\u304c7.3%\u5897\u306b\u3068\u3069\u307e\u308a\u307e\u3059\u3002\u5168\u793e\u306e\u7c97\u5229\u7387\u306f27.4%\u304b\u308924.4%\u306b\u3001GX\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u4e8b\u696d\u306e\u7c97\u5229\u7387\u306f32.3%\u304b\u308928.8%\u306b\u4e0b\u304c\u308b\u8a08\u753b\u3067\u3059\u3002<strong>\u30a2\u30e9\u30a4\u30a2\u30f3\u30b9\u3092\u4f38\u3070\u305b\u3070\u4f38\u3070\u3059\u307b\u3069\u3001\u58f2\u4e0a\u306f\u81a8\u3089\u307f\u3001\u5229\u76ca\u7387\u306f\u4e0b\u304c\u308a\u3001\u8cc7\u672c\u52b9\u7387\u306f\u4e0a\u304c\u308b\u3002<\/strong> \u3053\u306e\u4e09\u3064\u306f\u540c\u3058\u73fe\u8c61\u306e\u4e09\u3064\u306e\u5074\u9762\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3-2. 1MW\u3042\u305f\u308a\u3067\u8aad\u3080<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30a2\u30e9\u30a4\u30a2\u30f3\u30b9\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u306f2026\u5e746\u6708\u671f\u306b67MW\uff08215\u4ef6\uff09\u3092\u65b0\u898f\u7a3c\u50cd\u3055\u305b\u3001\u58f2\u4e0a7,740\u767e\u4e07\u5186\u30fb\u7c97\u52291,937\u767e\u4e07\u5186\u3092\u8a08\u4e0a\u3057\u307e\u3057\u305f\u30021MW\u3042\u305f\u308a\u306b\u76f4\u3059\u3068\u58f2\u4e0a116\u767e\u4e07\u5186\u3001\u7c97\u522928.9\u767e\u4e07\u5186\u3067\u3059\uff08\u7b46\u8005\u306e\u6982\u7b97\u3002\u524d\u671f\u306f38MW\u3067\u7c97\u522927.2\u767e\u4e07\u5186\/MW\uff09\u3002\u3064\u307e\u308a\u3001<strong>\u767a\u96fb\u6240\u30921MW\u4f5c\u3063\u3066\u30d1\u30fc\u30c8\u30ca\u30fc\u306b\u6e21\u3059\u3068\u3001\u7d041.2\u5104\u5186\u306e\u58f2\u4e0a\u3068\u7d042,900\u4e07\u5186\u306e\u7c97\u5229\u304c\u4e00\u5ea6\u306b\u7acb\u3064<\/strong>\u5546\u58f2\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e00\u65b9\u3001\u81ea\u793e\u3067\u6301\u3063\u3066\u3044\u308bPPA\u8a2d\u5099\u306f\u30012026\u5e746\u6708\u672b\u306e\u5e33\u7c3f\u4fa1\u984d\uff08\u6a5f\u68b0\u53ca\u3073\u88c5\u7f6e212.9\u5104\u5186\uff0b\u30ea\u30fc\u30b9\u8cc7\u752382.6\u5104\u5186\uff09\u3092\u7d2f\u8a08\u5bb9\u91cf263MW\u3067\u5272\u308b\u3068\u30011MW\u3042\u305f\u308a\u7d04112\u767e\u4e07\u5186\u3067\u3059\uff08\u7b46\u8005\u306e\u6982\u7b97\u3002\u6642\u671f\u306e\u7570\u306a\u308b\u8a2d\u5099\u306e\u5e73\u5747\u306a\u306e\u3067\u76ee\u5b89\uff09\u3002\u30a2\u30e9\u30a4\u30a2\u30f3\u30b9\u306e\u58f2\u5374\u5358\u4fa1116\u767e\u4e07\u5186\/MW\u3068\u5927\u304d\u304f\u9055\u308f\u306a\u3044\u3053\u3068\u304b\u3089\u3001\u300c\u81ea\u793e\u3067\u6301\u3066\u307020\u5e74\u304b\u3051\u3066\u56de\u53ce\u3059\u308b\u8cc7\u7523\u3092\u3001\u30a2\u30e9\u30a4\u30a2\u30f3\u30b9\u306a\u3089\u5b8c\u6210\u6642\u306b\u539f\u4fa1\u306e2\u301c3\u5272\u5897\u3057\u3067\u73fe\u91d1\u5316\u3057\u3066\u3044\u308b\u300d\u3068\u8aad\u3081\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u30b9\u30c8\u30c3\u30af\u3068\u30d5\u30ed\u30fc\u306e\u9055\u3044\u3092\u4f8b\u3048\u3067\u8a00\u3048\u3070\u3001\u81ea\u8ca9\u6a5f\u3092\u81ea\u5206\u3067\u7f6e\u3051\u3070\u6bce\u6708\u306e\u58f2\u4e0a\u304c20\u5e74\u7d9a\u304d\u307e\u3059\u304c\u3001\u6a5f\u68b0\u4ee3\u306f\u501f\u91d1\u3067\u5148\u306b\u6255\u3044\u307e\u3059\u3002\u81ea\u8ca9\u6a5f\u3092\u30ea\u30fc\u30b9\u4f1a\u793e\u306b\u58f2\u308c\u3070\u3001\u4eca\u5e74\u306e\u5229\u76ca\u306f\u5927\u304d\u304f\u51fa\u307e\u3059\u304c\u6765\u5e74\u306f\u540c\u3058\u91cf\u3092\u307e\u305f\u4f5c\u3089\u306a\u3044\u3068\u5229\u76ca\u304c\u7d9a\u304d\u307e\u305b\u3093\u3002\u4f1a\u793e\u304c\u300c\u65b0\u898f\u7a3c\u50cd\u306e7\u5272\u4ee5\u4e0a\u3092\u30a2\u30e9\u30a4\u30a2\u30f3\u30b9\u306b\u3059\u308b\u300d\u3068\u8a00\u3063\u3066\u3044\u308b\u4ee5\u4e0a\u3001<strong>\u3053\u306e\u4f1a\u793e\u306e\u5229\u76ca\u306f\u4eca\u5f8c\u3001\u6bce\u5e74\u306e\u958b\u767a\u91cf\uff08\u4f55MW\u5b8c\u6210\u3055\u305b\u305f\u304b\uff09\u306b\u3053\u308c\u307e\u3067\u4ee5\u4e0a\u306b\u5de6\u53f3\u3055\u308c\u308b<\/strong>\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002\u305d\u306e\u30d5\u30ed\u30fc\u3092\u8ffd\u3046KPI\u304c\u3001\u5951\u7d04\u6e08\u5bb9\u91cf\uff08\u958b\u767a\u5f85\u3061\u306e\u6848\u4ef6\uff09\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3-3. \u5951\u7d04\u6e08\u5bb9\u91cf\u3068\u3044\u3046\u30d1\u30a4\u30d7\u30e9\u30a4\u30f3<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>KPI<\/th><th>2025\u5e746\u6708\u672b<\/th><th>2026\u5e746\u6708\u672b<\/th><th>\u5897\u6e1b<\/th><\/tr><\/thead><tbody><tr><td>\u30aa\u30f3\u30b5\u30a4\u30c8PPA\u7d2f\u8a08\u7a3c\u50cd\u5bb9\u91cf<\/td><td>300MW<\/td><td>387MW<\/td><td>+87MW<\/td><\/tr><tr><td>\u3046\u3061PPA\u30b5\u30fc\u30d3\u30b9\uff08\u81ea\u793e\uff09<\/td><td>243MW<\/td><td>263MW<\/td><td>+20MW<\/td><\/tr><tr><td>\u3046\u3061\u30a2\u30e9\u30a4\u30a2\u30f3\u30b9\uff08\u4ed6\u793e\uff09<\/td><td>57MW<\/td><td>123MW<\/td><td>+66MW<\/td><\/tr><tr><td>\u5951\u7d04\u6e08\u5bb9\u91cf\uff08\u7740\u5de5\u524d\u306e\u30d1\u30a4\u30d7\u30e9\u30a4\u30f3\uff09<\/td><td>178MW<\/td><td>239MW<\/td><td>+34%<\/td><\/tr><tr><td>\u5951\u7d04\u6e08\u6848\u4ef6\u6570<\/td><td>396\u4ef6<\/td><td>468\u4ef6<\/td><td>+72\u4ef6<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u51fa\u5178\uff1a\u6c7a\u7b97\u8aac\u660e\u8cc7\u6599\u3001\u4f1a\u793eQ&amp;A\uff088\u670821\u65e5\uff09\u3001\u4e0a\u5834\u7533\u8acb\u66f8\u985e\u306eKPI\u8868\u3002\u30a2\u30e9\u30a4\u30a2\u30f3\u30b9\u306e2026\u5e746\u6708\u672b\u306f\u8aac\u660e\u8cc7\u6599\u306e\u56f3\u304b\u3089\u7b46\u8005\u304c\u8aad\u307f\u53d6\u3063\u305f\u3082\u306e\u3067\u3001\u5f53\u671f\u65b0\u898f67MW\u3068\u306e\u5dee1MW\u306f\u56db\u6368\u4e94\u5165\u3068\u898b\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u5951\u7d04\u6e08\u5bb9\u91cf239MW\u306f\u3001\u7a3c\u50cd\u6e08\u307f387MW\u306e6\u5272\u306b\u76f8\u5f53\u3059\u308b\u300c\u4f5c\u308b\u7d04\u675f\u306f\u3067\u304d\u3066\u3044\u308b\u304c\u3001\u307e\u3060\u5b8c\u6210\u3057\u3066\u3044\u306a\u3044\u300d\u6848\u4ef6\u3067\u3059\u30022026\u5e746\u6708\u671f\u306e\u65b0\u898f\u7a3c\u50cd\u304c87MW\u3060\u3063\u305f\u306e\u3067\u3001\u5358\u7d14\u8a08\u7b97\u3067\u306f2\u5e74\u534a\u5206\u4ee5\u4e0a\u306e\u958b\u767a\u91cf\u304c\u624b\u5143\u306b\u3042\u308a\u307e\u3059\u3002\u305f\u3060\u3057\u4f1a\u793e\u306f\u300c\u5951\u7d04\u5f8c\u306b\u8a2d\u7f6e\u74b0\u5883\u306e\u4e0d\u9069\u5408\u306a\u3069\u3067\u958b\u767a\u304c\u6b62\u307e\u308b\u6848\u4ef6\u304c\u4e00\u5b9a\u6570\u3042\u308b\u300d\u3068\u6ce8\u8a18\u3057\u3066\u304a\u308a\u3001239MW\u304c\u305d\u306e\u307e\u307e\u58f2\u4e0a\u306b\u306a\u308b\u308f\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3-4. \u96fb\u529b\u5c0f\u58f2\u306f\u300c\u58f2\u308c\u6b8b\u308a\u306e\u5378\u58f2\u90e8\u9580\u300d<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30a8\u30ca\u30b8\u30fc\u30c8\u30ec\u30fc\u30c7\u30a3\u30f3\u30b0\u4e8b\u696d\u306f\u3001\u58f2\u4e0a\u304c14%\u6e1b\u3063\u3066\u3082\u7c97\u5229\u306f2,818\u767e\u4e07\u5186\u304b\u30892,616\u767e\u4e07\u5186\u3078\u306e7%\u6e1b\u3067\u6e08\u307f\u3001\u7c97\u5229\u7387\u306f\u3080\u3057\u308d19.8%\u304b\u308921.4%\u306b\u4e0a\u304c\u308a\u307e\u3057\u305f\u30022023\u5e744\u6708\u306b\u300c\u8abf\u6574\u9805\u300d\u3068\u3044\u3046\u4ed5\u7d44\u307f\u3092\u5165\u308c\u3001\u5378\u96fb\u529b\u5e02\u5834\uff08JEPX\uff09\u304b\u3089\u8cb7\u3046\u5206\u306e\u4fa1\u683c\u5909\u52d5\u3092\u9867\u5ba2\u3078\u306e\u8ca9\u58f2\u5358\u4fa1\u306b\u9023\u52d5\u3055\u305b\u305f\u305f\u3081\u3001\u5e02\u5834\u4fa1\u683c\u304c\u4e0a\u304c\u3063\u3066\u3082\u9006\u30b6\u30e4\u306b\u306a\u308a\u306b\u304f\u304f\u306a\u3063\u3066\u3044\u307e\u3059\u30022026\u5e746\u6708\u671f\u306eJEPX\u5e73\u5747\u306f12.25\u5186\/kWh\u3068\u524d\u671f\u4e26\u307f\u3067\u3057\u305f\u304c\u3001\u7b2c4\u56db\u534a\u671f\u306f\u4e2d\u6771\u60c5\u52e2\u3067\u4e0a\u6607\u50be\u5411\u306b\u3042\u3063\u305f\u3068\u77ed\u4fe1\u306f\u66f8\u3044\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u81ea\u8ca9\u6a5f\u306e\u4f8b\u3048\u3067\u3044\u3048\u3070\u3001\u3053\u306e\u90e8\u9580\u306f\u300c\u5404\u5e97\u3067\u58f2\u308c\u6b8b\u3063\u305f\u98f2\u6599\u3092\u96c6\u3081\u3066\u3001\u5225\u306e\u5e97\u306b\u5378\u3059\u90e8\u9580\u300d\u3067\u3059\u3002\u5c4b\u6839\u306e\u4e0a\u306e\u767a\u96fb\u6240\u304c\u5897\u3048\u308b\u307b\u3069\u3001\u5e02\u5834\u304b\u3089\u4ed5\u5165\u308c\u308b\u96fb\u6c17\u304c\u6e1b\u308a\u3001\u81ea\u524d\u306e\u4f59\u5270\u96fb\u529b\u306e\u6bd4\u7387\u304c\u4e0a\u304c\u308a\u307e\u3059\u3002\u4f1a\u793e\u306f\u3001\u4f59\u5270\u96fb\u529b\u3092\u663c\u9593\u56fa\u5b9a\u5358\u4fa1\u306720\u5e74\u4f9b\u7d66\u3059\u308b\u300c\u5faa\u74b0\u578b\u96fb\u529b\u300d\u30922025\u5e747\u6708\u306b\u59cb\u3081\u30012027\u5e746\u6708\u671f\u306f\u3053\u306e\u4e8b\u696d\u306e\u58f2\u4e0a\u309215.9%\u5897\u306e141.8\u5104\u5186\u3068\u898b\u3066\u3044\u307e\u3059\u3002\u305f\u3060\u3057\u3001\u7c97\u5229\u306f2,623\u767e\u4e07\u5186\u3068\u524d\u671f\u4e26\u307f\u306e\u8a08\u753b\u3067\u3059\u3002\u58f2\u4e0a\u306e\u5897\u52a0\u306f\u71c3\u6599\u4fa1\u683c\u306e\u4e0a\u6607\u898b\u8fbc\u307f\u306b\u3088\u308b\u3082\u306e\u3067\u3001\u5132\u3051\u304c\u5897\u3048\u308b\u8a08\u753b\u3067\u306f\u306a\u3044\u70b9\u306f\u62bc\u3055\u3048\u3066\u304a\u304d\u305f\u3044\u3068\u3053\u308d\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\">4. \u4e0a\u5834\u5f8c\u306e\u30a4\u30d9\u30f3\u30c8\u3068\u4e8b\u696d\u30c8\u30d4\u30c3\u30af<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">4-1. \u6771\u6025\u4e0d\u52d5\u7523\u3068\u306e\u7b2c2\u5f3e\u30a2\u30e9\u30a4\u30a2\u30f3\u30b9\uff088\u67087\u65e5\uff09<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u6771\u6025\u4e0d\u52d5\u7523\u304c\u300cTLC VPP2\u5408\u540c\u4f1a\u793e\u300d\u3092\u8a2d\u7acb\u3057\u3001100\u5104\u5186\u898f\u6a21\u3067\u51fa\u8cc7\u3057\u307e\u3057\u305f\u3002\u7b2c1\u5f3e\uff082023\u5e7411\u6708\u8a2d\u7acb\uff09\u306f100MW\u898f\u6a21\u306b\u5230\u9054\u898b\u8fbc\u307f\u3067\u3059\u3002\u30a2\u30e9\u30a4\u30a2\u30f3\u30b9\u306e\u7d44\u6210\u306f\u7b2c4\u5f3e\u307e\u3067\u7d2f\u8a08\u3067\u7d04400\u5104\u5186\u898f\u6a21\uff082023\u5e742\u6708\u301c2025\u5e7410\u6708\uff09\u306b\u9054\u3057\u3001\u4f1a\u793e\u306f\u300c2028\u5e74\u521d\u3081\u9803\u307e\u3067\u306e\u958b\u767a\u306b\u76f8\u5f53\u300d\u3068\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u3053\u3067\u5f31\u6c17\u5074\u306e\u8ad6\u70b9\u3082\u62fe\u3063\u3066\u304a\u304d\u307e\u3059\u3002\u4e0a\u5834\u7533\u8acb\u66f8\u985e\u306e\u30ea\u30b9\u30af\u9805\u76ee\u306b\u3088\u308c\u3070\u3001**TLC VPP\u5408\u540c\u4f1a\u793e1\u793e\u3078\u306e\u58f2\u4e0a\u304c2026\u5e746\u6708\u671f\u7b2c3\u56db\u534a\u671f\u7d2f\u8a08\u306721.6%**\u3092\u5360\u3081\u3066\u3044\u307e\u3059\uff082025\u5e746\u6708\u671f\u306f13.7%\uff09\u3002\u901a\u671f\u306e\u6bd4\u7387\u306f\u6709\u4fa1\u8a3c\u5238\u5831\u544a\u66f8\u3067\u78ba\u8a8d\u3059\u308b\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u304c\u3001\u30a2\u30e9\u30a4\u30a2\u30f3\u30b9\u306e\u6bd4\u7387\u304c\u4e0a\u304c\u308b\u307b\u3069\u3001\u7279\u5b9a\u306e\u300c\u81ea\u8ca9\u6a5f\u3092\u8cb7\u3063\u3066\u304f\u308c\u308b\u76f8\u624b\u300d\u3078\u306e\u4f9d\u5b58\u304c\u4e0a\u304c\u308a\u307e\u3059\u3002\u7b2c2\u5f3e\u306e\u8a2d\u7acb\u306f\u3001\u305d\u306e\u76f8\u624b\u304c\u4eca\u5f8c\u3082\u8cb7\u3044\u7d9a\u3051\u308b\u3068\u3044\u3046\u610f\u5473\u3067\u306f\u597d\u6750\u6599\u3067\u3059\u304c\u3001\u4f9d\u5b58\u5ea6\u306e\u89e3\u6d88\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">4-2. \u305d\u306e\u4ed6<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>8\u670814\u65e5\uff1a\u30aa\u30f3\u30b5\u30a4\u30c8PPA\u306e\u958b\u767a\u5b9f\u7e3e\u304c47\u90fd\u9053\u5e9c\u770c\u3059\u3079\u3066\u306b\u5230\u9054\uff08\u5317\u6d77\u9053\u304c\u6700\u5f8c\uff09<\/li>\n\n\n\n<li>8\u670817\u65e5\uff1aJA\u5168\u8fb2\u30e9\u30c9\u30d5\u30a1\u304c\u521d\u306e\u30aa\u30f3\u30b5\u30a4\u30c8PPA\u3092\u5c0e\u5165\uff08\u30a2\u30e9\u30a4\u30a2\u30f3\u30b9\u5148\u306e\u30b5\u30fc\u30ad\u30e5\u30e9\u30fc\u30b0\u30ea\u30fc\u30f3\u30a8\u30ca\u30b8\u30fc\u5408\u540c\u4f1a\u793e\u3068\u9023\u643a\uff09<\/li>\n\n\n\n<li>7\u670829\u65e5\uff08\u4e0a\u5834\u5f53\u65e5\uff09\uff1a\u524d\u65e5\u306b\u767a\u751f\u3057\u305f\u718a\u672c\u5730\u9707\u306b\u3064\u3044\u3066\u300c\u5f53\u793e\u304c\u95a2\u4e0e\u3059\u308b\u767a\u96fb\u8a2d\u5099\u306b\u91cd\u5927\u306a\u88ab\u5bb3\u306f\u78ba\u8a8d\u3055\u308c\u3066\u3044\u306a\u3044\u300d\u3068\u958b\u793a<\/li>\n\n\n\n<li>8\u670831\u65e5\uff1a\u65e2\u5b58\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8\u30e9\u30a4\u30f3\uff08\u7dcf\u984d30\u5104\u5186\u30017\u884c\uff09\u304b\u308920\u5104\u5186\u3092\u501f\u5165\u3002\u904b\u8ee2\u8cc7\u91d1\u76ee\u7684\u3002\u3053\u306e\u5951\u7d04\u306b\u306f\u300c\u7d14\u8cc7\u7523\u3092\u524d\u671f\u672b\u307e\u305f\u306f2023\u5e746\u6708\u671f\u672b\u306e75%\u4ee5\u4e0a\u306b\u7dad\u6301\u300d\u300c\u7d4c\u5e38\u640d\u5931\u3092\u8a08\u4e0a\u3057\u306a\u3044\u300d\u3068\u3044\u3046\u8ca1\u52d9\u5236\u9650\u6761\u9805\u304c\u4ed8\u3044\u3066\u3044\u307e\u3059<\/li>\n\n\n\n<li>9\u67082\u65e5\uff1a\u5b9a\u6b3e\u5909\u66f4\u3092\u682a\u4e3b\u7dcf\u4f1a\u306b\u4ed8\u8b70\u3002\u53d6\u7de0\u5f79\u306e\u4efb\u671f\u30922\u5e74\u304b\u30891\u5e74\u306b\u77ed\u7e2e\u3057\u3001\u5270\u4f59\u91d1\u306e\u914d\u5f53\u3092\u53d6\u7de0\u5f79\u4f1a\u6c7a\u8b70\u3067\u6c7a\u3081\u3089\u308c\u308b\u3088\u3046\u306b\u3059\u308b\u5185\u5bb9\u3067\u3059\uff08\u914d\u5f53\u3092\u59cb\u3081\u308b\u3068\u3044\u3046\u610f\u5473\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u7b2c5\u7ae0\u53c2\u7167\uff09<\/li>\n\n\n\n<li>9\u670824\u65e5\uff08\u6728\uff09\uff1a\u7b2c23\u671f\u5b9a\u6642\u682a\u4e3b\u7dcf\u4f1a<\/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\">5. \u8cc7\u672c\u653f\u7b56\u30fb\u682a\u4e3b\u9084\u5143<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u4f1a\u793e\u306b\u682a\u4e3b\u512a\u5f85\u306f\u306a\u304f\u3001\u914d\u5f53\u3082\u3042\u308a\u307e\u305b\u3093\u3002\u305d\u306e\u4ee3\u308f\u308a\u3001\u4e0a\u5834\u306b\u4f34\u3046\u682a\u6570\u30fb\u682a\u4e3b\u69cb\u6210\u306e\u5909\u5316\u3068\u3001\u501f\u91d1\u306e\u4f7f\u3044\u65b9\u304c\u3001\u682a\u4fa1\u30681\u682a\u3042\u305f\u308a\u4fa1\u5024\u306b\u76f4\u63a5\u52b9\u304d\u307e\u3059\u3002\u3053\u306e\u30bb\u30af\u30b7\u30e7\u30f3\u306f\u300c\u9084\u5143\u300d\u3067\u306f\u306a\u304f**\u300c\u5e0c\u8584\u5316\u3068\u9700\u7d66\u306e\u7ba1\u7406\u60c5\u5831\u300d**\u3068\u3057\u3066\u8aad\u3093\u3067\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">5-1. \u914d\u5f53\u65b9\u91dd\u3068\u6a29\u5229\u78ba\u5b9a\u65e5<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u5275\u696d\u4ee5\u6765\u7121\u914d\u3002\u4f1a\u793e\u306f\u300c\u5f53\u9762\u3082\u5f15\u304d\u7d9a\u304d\u914d\u5f53\u306f\u884c\u308f\u306a\u3044\u3053\u3068\u3092\u57fa\u672c\u65b9\u91dd\u300d\u3068\u3057\u3001\u300c\u914d\u5f53\u5b9f\u65bd\u306e\u53ef\u80fd\u6027\u53ca\u3073\u305d\u306e\u5b9f\u65bd\u6642\u671f\u7b49\u306b\u3064\u3044\u3066\u306f\u3001\u73fe\u6642\u70b9\u306b\u304a\u3044\u3066\u672a\u5b9a\u300d\u3068\u6709\u4fa1\u8a3c\u5238\u5c4a\u51fa\u66f8\u30fb\u62db\u96c6\u901a\u77e5\u306b\u66f8\u3044\u3066\u3044\u307e\u3059<\/li>\n\n\n\n<li>2027\u5e746\u6708\u671f\u306e\u4e88\u60f3\u914d\u5f53\u30820\u5186\u3067\u3059<\/li>\n\n\n\n<li>\u57fa\u6e96\u65e5\u306f\u6bce\u5e746\u670830\u65e5\uff08\u671f\u672b\uff09\u306812\u670831\u65e5\uff08\u4e2d\u9593\uff09\u30022027\u5e746\u670830\u65e5\u306f\u6c34\u66dc\u65e5\u306a\u306e\u3067\u3001**\u6a29\u5229\u4ed8\u304d\u6700\u7d42\u65e5\u306f2027\u5e746\u670828\u65e5\uff08\u6708\u66dc\u65e5\uff09**\u306b\u306a\u308a\u307e\u3059\uff08\u7b46\u8005\u306e\u8a08\u7b97\u3002\u795d\u65e5\u30fb\u4f11\u696d\u65e5\u6b21\u7b2c\u3067\u5909\u308f\u308a\u307e\u3059\uff09\u3002\u7121\u914d\u306a\u306e\u3067\u3001\u3053\u306e\u65e5\u306b\u610f\u5473\u304c\u3042\u308b\u306e\u306f\u682a\u4e3b\u7dcf\u4f1a\u306e\u8b70\u6c7a\u6a29\u3060\u3051\u3067\u3059<\/li>\n\n\n\n<li>9\u670824\u65e5\u306e\u682a\u4e3b\u7dcf\u4f1a\u3067\u3001\u914d\u5f53\u306e\u6c7a\u5b9a\u6a5f\u95a2\u3092\u682a\u4e3b\u7dcf\u4f1a\u304b\u3089\u53d6\u7de0\u5f79\u4f1a\u306b\u79fb\u3059\u5b9a\u6b3e\u5909\u66f4\u304c\u8aee\u3089\u308c\u307e\u3059\u3002\u4f1a\u793e\u306f\u3053\u308c\u3092\u300c\u6a5f\u52d5\u7684\u306a\u8cc7\u672c\u653f\u7b56\u53ca\u3073\u914d\u5f53\u653f\u7b56\u3092\u56f3\u308b\u305f\u3081\u300d\u3068\u8aac\u660e\u3057\u3066\u3044\u307e\u3059\u3002\u6a5f\u52d5\u7684\u306b\u914d\u5f53\u3067\u304d\u308b\u4ed5\u7d44\u307f\u3092\u5148\u306b\u4f5c\u3063\u305f\u3068\u3044\u3046\u8aad\u307f\u3082\u3001\u4e0a\u5834\u4f1a\u793e\u306e\u6a19\u6e96\u7684\u306a\u5b9a\u6b3e\u306b\u63c3\u3048\u305f\u3060\u3051\u3068\u3044\u3046\u8aad\u307f\u3082\u3067\u304d\u307e\u3059<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">5-2. IPO\u306e\u6642\u7cfb\u5217<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u65e5\u4ed8<\/th><th>\u51fa\u6765\u4e8b<\/th><th>\u6570\u5b57<\/th><\/tr><\/thead><tbody><tr><td>2021\u5e7411\u670816\u65e5<\/td><td>\u4f0a\u85e4\u5fe0\u5546\u4e8b\u304cA\u7a2e\u512a\u5148\u682a\u5f0f\u3092\u5f15\u304d\u53d7\u3051\u300120%\u8d85\u306e\u682a\u4e3b\uff08\u305d\u306e\u4ed6\u306e\u95a2\u4fc2\u4f1a\u793e\uff09\u306b<\/td><td>1\u682a200\u4e07\u5186\uff08\u5206\u5272\u5f8c\u63db\u7b97400\u5186\uff09<\/td><\/tr><tr><td>2023\u5e747\u670828\u65e5<\/td><td>B\u7a2e\u512a\u5148\u682a\u5f0f\u3092\u7b2c\u4e09\u8005\u5272\u5f53\uff08THE FUND\u3001\u4f0a\u85e4\u5fe0\u3001\u6771\u6025\u4e0d\u52d5\u7523\u3001ES&amp;G\u30d1\u30fc\u30c8\u30ca\u30fc\u30ba\u307b\u304b\uff09<\/td><td>1\u682a220\u4e07\u5186\uff08\u5206\u5272\u5f8c\u63db\u7b97440\u5186\uff09<\/td><\/tr><tr><td>2025\u5e741\u67086\u65e5<\/td><td>A\u7a2e\u30fbB\u7a2e\u512a\u5148\u682a\u5f0f\u3092\u3059\u3079\u3066\u666e\u901a\u682a\u5f0f\u306b\u8ee2\u63db\u3057\u6d88\u5374<\/td><td>\u2014<\/td><\/tr><tr><td>2025\u5e741\u670810\u65e5<\/td><td>1\u682a\u30925,000\u682a\u306b\u5206\u5272<\/td><td>\u767a\u884c\u6e0831,985,000\u682a<\/td><\/tr><tr><td>2025\u5e741\u6708<\/td><td>\u65b0\u682a\u4e88\u7d04\u6a29\u306e\u884c\u4f7f<\/td><td>125,000\u682a\u5897\u3001\u767a\u884c\u6e0832,110,000\u682a<\/td><\/tr><tr><td>2026\u5e746\u670825\u65e5<\/td><td>\u4e0a\u5834\u627f\u8a8d\u3001\u6709\u4fa1\u8a3c\u5238\u5c4a\u51fa\u66f8\u63d0\u51fa<\/td><td>\u60f3\u5b9a\u4fa1\u683c710\u5186<\/td><\/tr><tr><td>2026\u5e747\u670810\u65e5<\/td><td>\u4eee\u6761\u4ef6\u6c7a\u5b9a<\/td><td>740\u301c770\u5186<\/td><\/tr><tr><td>2026\u5e747\u670817\u65e5<\/td><td>\u516c\u958b\u4fa1\u683c\u6c7a\u5b9a<\/td><td>770\u5186<\/td><\/tr><tr><td>2026\u5e747\u670828\u65e5<\/td><td>\u516c\u52df2,689,000\u682a\u306e\u6255\u8fbc<\/td><td>\u5f15\u53d7\u4fa1\u984d708.40\u5186\u3001\u624b\u53d619.0\u5104\u5186<\/td><\/tr><tr><td>2026\u5e747\u670829\u65e5<\/td><td>\u6771\u8a3c\u30b0\u30ed\u30fc\u30b9\u4e0a\u5834\u3002\u58f2\u51fa8,051,500\u682a\uff08\u3046\u3061\u6d77\u59162,044,000\u682a\uff09\u3001OA\u58f2\u51fa1,611,000\u682a<\/td><td>\u521d\u5024953\u5186\uff08\u516c\u52df\u6bd4+23.8%\uff09<\/td><\/tr><tr><td>2026\u5e748\u67083\u65e5<\/td><td>\u4e0a\u5834\u6765\u5b89\u5024<\/td><td>670\u5186\uff08\u516c\u52df\u6bd4\u25b313.0%\uff09<\/td><\/tr><tr><td>2026\u5e748\u670814\u65e5<\/td><td>\u901a\u671f\u6c7a\u7b97\u767a\u8868<\/td><td>\u5f53\u65e5\u7d42\u5024851\u5186<\/td><\/tr><tr><td>2026\u5e748\u670821\u65e5<\/td><td>OA\u306b\u4f34\u3046\u7b2c\u4e09\u8005\u5272\u5f53\u306e\u7d50\u679c<\/td><td>1,581,000\u682a\u767a\u884c\u300130,000\u682a\u5931\u6a29<\/td><\/tr><tr><td>2026\u5e748\u670826\u65e5<\/td><td>\u540c\u6255\u8fbc<\/td><td>\u624b\u53d611.2\u5104\u5186\u3001\u767a\u884c\u6e0836,380,000\u682a<\/td><\/tr><tr><td>2027\u5e741\u670824\u65e5\u307e\u305f\u306f25\u65e5<\/td><td>\u30ed\u30c3\u30af\u30a2\u30c3\u30d7180\u65e5\u306e\u6e80\u4e86\uff08\u6570\u3048\u65b9\u30671\u65e5\u305a\u308c\u308b\uff09<\/td><td>\u2014<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u51fa\u5178\uff1a\u4e0a\u5834\u7533\u8acb\u66f8\u985e\u3001\u6709\u4fa1\u8a3c\u5238\u5c4a\u51fa\u66f8\u3001\u6c7a\u7b97\u77ed\u4fe1\u306e\u5f8c\u767a\u4e8b\u8c61\u3001\u7b2c\u4e09\u8005\u5272\u5f53\u5897\u8cc7\u306e\u7d50\u679c\u306b\u95a2\u3059\u308b\u304a\u77e5\u3089\u305b\u3001Yahoo!\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306e\u682a\u4fa1\u6642\u7cfb\u5217\u3002\u58f2\u51fa\u4eba\u306e\u5185\u8a33\u306fIPO\u60c5\u5831\u30b5\u30a4\u30c8\u306e\u8a18\u8f09\u3067\u3001\u76ee\u8ad6\u898b\u66f8\u539f\u6587\u3067\u306e\u78ba\u8a8d\u3092\u63a8\u5968\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">5-3. \u30c0\u30a6\u30f3\u30e9\u30a6\u30f3\u30c9\u3067\u306f\u306a\u304f\u3001\u30a2\u30c3\u30d7\u30e9\u30a6\u30f3\u30c9<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e0a\u5834\u524d\u306e\u6700\u5f8c\u306e\u8cc7\u91d1\u8abf\u9054\u306f2023\u5e747\u6708\u306eB\u7a2e\u512a\u5148\u682a\u5f0f\u3067\u3001\u5206\u5272\u5f8c\u63db\u7b97\u30671\u682a440\u5186\u3067\u3057\u305f\u3002\u516c\u52df\u4fa1\u683c770\u5186\u306f\u305d\u306e1.75\u500d\u3067\u3059\u3002\u76f4\u524d\u306e\u7b2c\u4e09\u8005\u5272\u5f53\u3088\u308a\u5b89\u304f\u4e0a\u5834\u3059\u308b\u300c\u30c0\u30a6\u30f3\u30e9\u30a6\u30f3\u30c9\u300d\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u306a\u304a\u30012023\u5e7411\u6708\u306b\u767a\u884c\u3057\u305f\u7b2c8\u56de\u65b0\u682a\u4e88\u7d04\u6a29\u306e\u884c\u4f7f\u4fa1\u984d\u306f400\u5186\u3067\u3001B\u7a2e\u512a\u5148\u682a\u5f0f\u306e\u4fa1\u683c\u3092\u3084\u3084\u4e0b\u56de\u308b\u6c34\u6e96\u306b\u8a2d\u5b9a\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">5-4. \u30aa\u30fc\u30d0\u30fc\u30a2\u30ed\u30c3\u30c8\u30e1\u30f3\u30c8\u306e\u5e30\u7d50\uff1a30,000\u682a\u306e\u5931\u6a29\u304c\u793a\u3059\u3082\u306e<\/h3>\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\u30aa\u30fc\u30d0\u30fc\u30a2\u30ed\u30c3\u30c8\u30e1\u30f3\u30c8\uff08OA\uff09\u3068\u30b7\u30f3\u30b8\u30b1\u30fc\u30c8\u30ab\u30d0\u30fc\u53d6\u5f15 \u4e3b\u5e79\u4e8b\u8a3c\u5238\uff08\u91ce\u6751\u8b49\u5238\uff09\u304c\u3001\u516c\u52df\u30fb\u58f2\u51fa\u3068\u306f\u5225\u306b\u3001\u5927\u682a\u4e3b\uff08\u3053\u306e\u4f1a\u793e\u3067\u306f\u4f0a\u85e4\u5fe0\u5546\u4e8b\uff09\u304b\u3089\u682a\u3092\u501f\u308a\u3066\u8ffd\u52a0\u3067\u58f2\u308b\u4ed5\u7d44\u307f\u3067\u3059\u3002\u501f\u308a\u305f\u682a\u306f\u5f8c\u3067\u8fd4\u3055\u306a\u3051\u308c\u3070\u306a\u3089\u305a\u3001\u8fd4\u3057\u65b9\u306f2\u901a\u308a\u3042\u308a\u307e\u3059\u3002\u682a\u4fa1\u304c\u516c\u52df\u4fa1\u683c\u3092\u4e0a\u56de\u3063\u3066\u3044\u308c\u3070\u3001\u4f1a\u793e\u304c\u65b0\u682a\u3092\u767a\u884c\u3057\u3066\u4e3b\u5e79\u4e8b\u306b\u6e21\u3057\u3001\u305d\u308c\u3092\u8cb8\u4e3b\u306b\u8fd4\u3057\u307e\u3059\uff08\u7b2c\u4e09\u8005\u5272\u5f53\u5897\u8cc7\uff09\u3002\u682a\u4fa1\u304c\u516c\u52df\u4fa1\u683c\u3092\u4e0b\u56de\u3063\u3066\u3044\u308c\u3070\u3001\u4e3b\u5e79\u4e8b\u306f\u5e02\u5834\u3067\u8cb7\u3044\u623b\u3057\u3066\u8fd4\u3057\u307e\u3059\uff08\u30b7\u30f3\u30b8\u30b1\u30fc\u30c8\u30ab\u30d0\u30fc\u53d6\u5f15\uff09\u3002\u3053\u306e\u5834\u5408\u3001\u65b0\u682a\u306f\u767a\u884c\u3055\u308c\u307e\u305b\u3093\u3002<\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u4f1a\u793e\u3067\u306fOA1,611,000\u682a\u306e\u3046\u30611,581,000\u682a\u304c\u65b0\u682a\u3068\u3057\u3066\u767a\u884c\u3055\u308c\u3001<strong>30,000\u682a\u304c\u5931\u6a29<\/strong>\u3057\u307e\u3057\u305f\u3002\u5931\u6a29\u5206\u306f\u3001\u4e3b\u5e79\u4e8b\u304c\u5e02\u5834\u3067\u8cb7\u3044\u623b\u3057\u3066\u4f0a\u85e4\u5fe0\u5546\u4e8b\u306b\u8fd4\u3057\u305f\u5206\u3068\u89e3\u91c8\u3067\u304d\u307e\u3059\u3002\u3064\u307e\u308a\u3001\u4e0a\u5834\u5f8c\u306e\u3069\u3053\u304b\u3067\u682a\u4fa1\u304c\u516c\u52df\u4fa1\u683c770\u5186\u3092\u4e0b\u56de\u308a\u3001\u4e3b\u5e79\u4e8b\u304c\u8cb7\u3044\u652f\u3048\u306b\u5165\u3063\u305f\u75d5\u8de1\u3067\u3059\u3002\u5b9f\u969b\u30018\u67083\u65e5\u306b670\u5186\u306e\u5b89\u5024\u3092\u3064\u3051\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u540c\u6642\u306b\u300130,000\u682a\u5206\u306e\u65b0\u682a\u767a\u884c\u304c\u56de\u907f\u3055\u308c\u305f\u306e\u3067\u3001\u5e0c\u8584\u5316\u306f\u305d\u306e\u5206\u3060\u3051\u5c0f\u3055\u304f\u306a\u308a\u307e\u3057\u305f\u3002\u300c\u5931\u6a29\u300d\u306f\u4f1a\u793e\u306b\u3068\u3063\u3066\u60aa\u3044\u8a00\u8449\u306b\u805e\u3053\u3048\u307e\u3059\u304c\u3001\u682a\u6570\u306e\u89b3\u70b9\u3067\u306f\u65e2\u5b58\u682a\u4e3b\u306b\u6709\u5229\u306a\u7d50\u679c\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">5-5. \u682a\u6570\u306e\u63a8\u79fb\u3068\u30013\u7a2e\u985e\u306eEPS<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u6642\u70b9<\/th><th>\u767a\u884c\u6e08\u682a\u5f0f\u6570<\/th><th>\u5897\u6e1b\u306e\u5185\u8a33<\/th><\/tr><\/thead><tbody><tr><td>2026\u5e746\u6708\u672b\uff08\u4e0a\u5834\u524d\uff09<\/td><td>32,110,000\u682a<\/td><td>\u2014<\/td><\/tr><tr><td>2026\u5e747\u670828\u65e5\uff08\u516c\u52df\u6255\u8fbc\u5f8c\uff09<\/td><td>34,799,000\u682a<\/td><td>\uff0b2,689,000\u682a\uff08\u516c\u52df\uff09<\/td><\/tr><tr><td>2026\u5e748\u670826\u65e5\uff08OA\u6255\u8fbc\u5f8c\u3001\u73fe\u5728\uff09<\/td><td>36,380,000\u682a<\/td><td>\uff0b1,581,000\u682a\uff08OA\u7b2c\u4e09\u8005\u5272\u5f53\uff09<\/td><\/tr><tr><td>\u6f5c\u5728\u682a\u5f0f\u3092\u542b\u3081\u305f\u5834\u5408<\/td><td>40,770,000\u682a<\/td><td>\uff0b4,390,000\u682a\uff08\u65b0\u682a\u4e88\u7d04\u6a29\uff09<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u691c\u7b97\uff1a32,110,000\uff0b2,689,000\uff1d34,799,000\uff08\u7b2c\u4e09\u8005\u5272\u5f53\u5897\u8cc7\u306e\u7d50\u679c\u306e\u304a\u77e5\u3089\u305b\u306b\u8a18\u8f09\u306e\u300c\u73fe\u5728\u306e\u767a\u884c\u6e08\u682a\u5f0f\u7dcf\u6570\u300d\u3068\u4e00\u81f4\uff09\u300234,799,000\uff0b1,581,000\uff1d36,380,000\uff08\u540c\u300c\u5897\u8cc7\u5f8c\u767a\u884c\u6e08\u682a\u5f0f\u7dcf\u6570\u300d\u3068\u4e00\u81f4\uff09\u3002\u81ea\u5df1\u682a\u5f0f\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u516c\u52df\u306b\u3088\u308b\u5e0c\u8584\u5316\u7387\u306f2,689,000\u00f732,110,000\uff1d8.4%\u3001OA\u3092\u542b\u3081\u308b\u306813.3%\u3067\u3059\u3002\u4e0a\u5834\u5f8c\u682a\u6570\u306b\u5bfe\u3059\u308b\u516c\u52df\uff0bOA\u682a\u306e\u6bd4\u7387\u306f11.7%\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u3053\u304b\u3089\u304c\u300c\u898b\u3048\u65b9\u304c\u8aa4\u89e3\u3092\u751f\u3080\u6570\u5b57\u300d\u306e\u672c\u4e38\u3067\u3059\u3002\u4f1a\u793e\u304c\u958b\u793a\u3059\u308b2027\u5e746\u6708\u671f\u306e\u4e88\u60f3EPS61.88\u5186\u306f\u3001<strong>\u516c\u52df\u682a\u3092\u6255\u8fbc\u65e5\u304b\u3089\u65e5\u5272\u308a\u3057\u305f\u300c\u4e88\u5b9a\u671f\u4e2d\u5e73\u5747\u682a\u6570\u300d\u7d043,459\u4e07\u682a\u3067\u7d14\u5229\u76ca21.4\u5104\u5186\u3092\u5272\u3063\u305f\u3082\u306e<\/strong>\u3067\u3059\u3002\u4e0a\u5834\u5f8c\u306e\u5b9f\u969b\u306e\u682a\u657036,380,000\u682a\u3067\u5272\u308b\u306858.8\u5186\u306b\u306a\u308a\u307e\u3059\u3002\u3055\u3089\u306b\u65b0\u682a\u4e88\u7d04\u6a294,390,000\u682a\u304c\u3059\u3079\u3066\u884c\u4f7f\u3055\u308c\u305f\u3068\u4eee\u5b9a\u3059\u308b\u306852.5\u5186\u3067\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>EPS\u306e\u7a2e\u985e<\/th><th>2026\u5e746\u6708\u671f<\/th><th>2027\u5e746\u6708\u671f\u4e88\u60f3<\/th><th>\u5206\u6bcd<\/th><\/tr><\/thead><tbody><tr><td>\u4f1a\u793e\u958b\u793a\uff08\u671f\u4e2d\u5e73\u5747\u682a\u6570\u30d9\u30fc\u30b9\uff09<\/td><td>60.42\u5186<\/td><td>61.88\u5186<\/td><td>32,110,000\u682a\uff0f\u7d0434,583,000\u682a<\/td><\/tr><tr><td>\u5b9f\u682a\u6570\u30d9\u30fc\u30b9\uff08\u7b46\u8005\u306e\u6982\u7b97\uff09<\/td><td>53.3\u5186<\/td><td>58.8\u5186<\/td><td>36,380,000\u682a<\/td><\/tr><tr><td>\u5b8c\u5168\u5e0c\u8584\u5316\u5f8c\uff08\u7b46\u8005\u306e\u6982\u7b97\uff09<\/td><td>47.6\u5186<\/td><td>52.5\u5186<\/td><td>40,770,000\u682a<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u691c\u7b97\uff1a21.4\u5104\u5186\u00f761.88\u5186\uff1d34,583,064\u682a\u3002\u516c\u52df2,689,000\u682a\u3092\u6255\u8fbc\u7fcc\u65e5\u304b\u3089\u671f\u672b\u307e\u3067\u306e337\u65e5\u3067\u65e5\u5272\u308a\u3059\u308b\u30682,482,721\u682a\u3067\u300132,110,000\u682a\u306b\u8db3\u3059\u306834,592,721\u682a\u3002\u4f1a\u793e\u306e\u5206\u6bcd\u3068\u307b\u307c\u4e00\u81f4\u3057\u307e\u3059\uff08OA\u5206\u306f\u4f1a\u793e\u306e\u6ce8\u8a18\u3069\u304a\u308a\u542b\u307e\u308c\u3066\u3044\u307e\u305b\u3093\uff09\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u540c\u3058\u682a\u4fa1\u3067\u3001PER\u306f\u6b21\u306e\u3088\u3046\u306b\u5909\u308f\u308a\u307e\u3059\uff089\u67084\u65e5\u7d42\u50241,145\u5186\uff09\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u682a\u4fa1<\/th><th>\u4f1a\u793eEPS61.88\u5186<\/th><th>\u5b9f\u682a\u6570EPS58.8\u5186<\/th><th>\u5b8c\u5168\u5e0c\u8584\u5316EPS52.5\u5186<\/th><\/tr><\/thead><tbody><tr><td>770\u5186\uff08\u516c\u52df\u4fa1\u683c\uff09<\/td><td>12.4\u500d<\/td><td>13.1\u500d<\/td><td>14.7\u500d<\/td><\/tr><tr><td>953\u5186\uff08\u521d\u5024\uff09<\/td><td>15.4\u500d<\/td><td>16.2\u500d<\/td><td>18.2\u500d<\/td><\/tr><tr><td>1,145\u5186\uff089\u67084\u65e5\u7d42\u5024\uff09<\/td><td>18.5\u500d<\/td><td>19.5\u500d<\/td><td>21.8\u500d<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u8a3c\u5238\u30b5\u30a4\u30c8\u306ePER\u306f\u3053\u306e\u3044\u305a\u308c\u3068\u3082\u4e00\u81f4\u3057\u306a\u3044\u5024\uff089\u67084\u65e5\u6642\u70b9\u306717.18\u500d\u3068\u8868\u793a\uff09\u306b\u306a\u3063\u3066\u304a\u308a\u3001\u5206\u6bcd\u306e\u53d6\u308a\u65b9\u304c\u7570\u306a\u308b\u3088\u3046\u3067\u3059\u3002\u6765\u671f\u4ee5\u964d\u306b1\u682a\u304c\u53d7\u3051\u53d6\u308c\u308b\u5229\u76ca\u306e\u76ee\u5b89\u306f\u3001\u5b9f\u682a\u6570\u30d9\u30fc\u30b9\uff0858.8\u5186\uff09\u3068\u8003\u3048\u308b\u306e\u304c\u7b46\u8005\u306e\u898b\u89e3\u3067\u3059\u304c\u3001\u65b0\u682a\u4e88\u7d04\u6a29\u306e\u884c\u4f7f\u4fa1\u984d\u304c60\u5186\u30fb400\u5186\u3068\u682a\u4fa1\u3092\u5927\u304d\u304f\u4e0b\u56de\u308b\u305f\u3081\u3001\u5b8c\u5168\u5e0c\u8584\u5316\u5f8c\u306e\u6570\u5b57\u3082\u73fe\u5b9f\u5473\u304c\u3042\u308a\u307e\u3059\uff08\u6b21\u9805\uff09\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">5-6. \u65b0\u682a\u4e88\u7d04\u6a29\uff1a\u884c\u4f7f\u4fa1\u984d60\u5186\u304c\u4e0a\u5834\u5f8c\u682a\u6570\u306e12%\u5206\u3042\u308b<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u56de\u6b21<\/th><th>\u682a\u6570<\/th><th>\u884c\u4f7f\u4fa1\u984d<\/th><th>\u884c\u4f7f\u671f\u9593<\/th><th>\u4e3b\u306a\u4fdd\u6709\u8005<\/th><\/tr><\/thead><tbody><tr><td>\u7b2c6\u56de<\/td><td>2,000,000\u682a<\/td><td>60\u5186<\/td><td>2020\u5e7410\u6708\u301c2029\u5e7410\u670830\u65e5<\/td><td>\u53d6\u7de0\u5f792\u540d\uff08\u672c\u591a\u4f1a\u95771,250,000\u682a\u3092\u542b\u3080\uff09\u3001\u5f93\u696d\u54e11\u540d<\/td><\/tr><tr><td>\u7b2c7\u56de<\/td><td>1,145,000\u682a<\/td><td>60\u5186<\/td><td>\u540c\u4e0a<\/td><td>\u30b3\u30bf\u30a8\u30eb\u4fe1\u8a17\uff08\u6642\u4fa1\u767a\u884c\u65b0\u682a\u4e88\u7d04\u6a29\u4fe1\u8a17\u3002\u5c06\u6765\u306e\u5f79\u8077\u54e1\u306b\u5206\u914d\uff09<\/td><\/tr><tr><td>\u7b2c8\u56de<\/td><td>1,245,000\u682a<\/td><td>400\u5186<\/td><td>2025\u5e7411\u6708\u301c2033\u5e7410\u670813\u65e5<\/td><td>\u53d6\u7de0\u5f794\u540d\u3001\u5f93\u696d\u54e112\u540d<\/td><\/tr><tr><td>\u5408\u8a08<\/td><td>4,390,000\u682a<\/td><td>\u2014<\/td><td>\u2014<\/td><td>\u4e0a\u5834\u524d\u682a\u6570\u306e13.7%\u3001\u4e0a\u5834\u5f8c\u682a\u6570\u306e12.1%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u51fa\u5178\uff1a\u62db\u96c6\u901a\u77e5\u3001\u4e0a\u5834\u7533\u8acb\u66f8\u985e\u3002\u672c\u591a\u4f1a\u9577\u306e\u4fdd\u6709\u6570\u306fIPO\u60c5\u5831\u30b5\u30a4\u30c8\u306e\u8a18\u8f09\uff08\u539f\u6587\u8981\u78ba\u8a8d\uff09\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u691c\u7b97\uff1a2,000,000\uff0b1,145,000\uff0b1,245,000\uff1d4,390,000\u682a\u3002\u500b\u6570\u306f40,000\u500b\uff081\u500b50\u682a\uff09\uff0b22,900\u500b\uff08\u540c\uff09\uff0b249\u500b\uff081\u500b5,000\u682a\uff09\uff1d63,149\u500b\u3067\u3001\u77ed\u4fe1\u306e\u300c\u65b0\u682a\u4e88\u7d04\u6a293\u7a2e\u985e63,149\u500b\u300d\u3068\u4e00\u81f4\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u884c\u4f7f\u6761\u4ef6\u306f\u3044\u305a\u308c\u3082\u6e80\u305f\u3055\u308c\u3066\u3044\u308b\uff08\u7b2c6\u30fb7\u56de\u306f\u300c2024\u5e746\u6708\u671f\u307e\u3067\u306b\u55b6\u696d\u5229\u76ca3.3\u5104\u5186\u8d85\u300d\u304c\u6761\u4ef6\u3067\u30012023\u5e746\u6708\u671f\u306b\u9054\u6210\u6e08\u307f\uff09\u305f\u3081\u3001<strong>\u3059\u3079\u3066\u884c\u4f7f\u53ef\u80fd\u306a\u72b6\u614b<\/strong>\u3067\u3059\u3002\u305f\u3060\u3057\u3001\u7b2c7\u56de\u306e\u4fe1\u8a17\u5206\u306b\u3064\u3044\u3066\u306f\u300c\u30ed\u30c3\u30af\u30a2\u30c3\u30d7\u671f\u9593\u4e2d\u306f\u5f79\u8077\u54e1\u3092\u53d7\u76ca\u8005\u3068\u3057\u3066\u6307\u5b9a\u3057\u306a\u3044\u300d\u3068\u7533\u8acb\u66f8\u985e\u306b\u8a18\u8f09\u304c\u3042\u308a\u3001\u30ed\u30c3\u30af\u30a2\u30c3\u30d7\u89e3\u9664\u307e\u3067\u5206\u914d\u3055\u308c\u307e\u305b\u3093\u3002\u884c\u4f7f\u4fa1\u984d60\u5186\u306e\u6a29\u5229\u3092\u6301\u3064\u4eba\u306b\u3068\u3063\u3066\u3001\u682a\u4fa11,145\u5186\u306f\u884c\u4f7f\u3059\u308c\u30701\u682a\u3042\u305f\u308a1,085\u5186\u306e\u542b\u307f\u76ca\u3067\u3059\u3002\u30ed\u30c3\u30af\u30a2\u30c3\u30d7\u89e3\u9664\u5f8c\u306b\u884c\u4f7f\u3068\u58f2\u5374\u304c\u9032\u3081\u3070\u3001\u9700\u7d66\u306e\u91cd\u3057\u306b\u306a\u308a\u5f97\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">5-7. \u4e0a\u5834\u5f8c\u306e1\u682a\u3042\u305f\u308a\u7d14\u8cc7\u7523\u3068\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\uff08\u7b46\u8005\u306e\u8a66\u7b97\uff09<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u9805\u76ee<\/th><th>\u4e0a\u5834\u524d\uff082026\u5e746\u6708\u672b\u5b9f\u7e3e\uff09<\/th><th>\u4e0a\u5834\u5f8c\uff08\u7b46\u8005\u306e\u6982\u7b97\uff09<\/th><\/tr><\/thead><tbody><tr><td>\u7d14\u8cc7\u7523\uff08\u767e\u4e07\u5186\uff09<\/td><td>8,532<\/td><td>11,557<\/td><\/tr><tr><td>\u767a\u884c\u6e08\u682a\u5f0f\u6570<\/td><td>32,110,000\u682a<\/td><td>36,380,000\u682a<\/td><\/tr><tr><td>1\u682a\u3042\u305f\u308a\u7d14\u8cc7\u7523\uff08BPS\uff09<\/td><td>265.71\u5186<\/td><td>317.7\u5186<\/td><\/tr><tr><td>PBR\uff081,145\u5186\uff09<\/td><td>4.31\u500d<\/td><td>3.60\u500d<\/td><\/tr><tr><td>\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387<\/td><td>19.3%<\/td><td>24.4%<\/td><\/tr><tr><td>\u30cd\u30c3\u30c8D\/E\u30ec\u30b7\u30aa<\/td><td>2.3\u500d<\/td><td>1.4\u500d<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u6982\u7b97\u306e\u524d\u63d0\uff1a\u624b\u53d6\u91d1\u306f\u5f15\u53d7\u4fa1\u984d708.40\u5186\u00d7\uff082,689,000\uff0b1,581,000\u682a\uff09\uff1d30.2\u5104\u5186\uff08\u6c7a\u7b97\u77ed\u4fe1\u306e\u6255\u8fbc\u91d1\u984d\u306e\u7dcf\u984d\u3068\u5272\u5f53\u4fa1\u683c\u306e\u7dcf\u984d\u306e\u5408\u8a08\uff09\u3002\u7d14\u8cc7\u7523\u3068\u7dcf\u8cc7\u7523\u306b\u540c\u984d\u3092\u52a0\u7b97\u3057\u3001\u6709\u5229\u5b50\u8ca0\u50b5\u306f\u4e0d\u5909\u3068\u3057\u305f\u3002\u8a3c\u5238\u30b5\u30a4\u30c8\u306ePBR4.31\u500d\u306f\u4e0a\u5834\u524d\u306eBPS\u3067\u8a08\u7b97\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4f1a\u793e\u304c\u76ee\u5b89\u3068\u3059\u308b\u30cd\u30c3\u30c8D\/E\u30ec\u30b7\u30aa4.0\u500d\u307e\u3067\u501f\u308a\u308b\u3068\u3059\u308b\u3068\u3001\u4e0a\u5834\u5f8c\u306e\u7d14\u8cc7\u7523115.6\u5104\u5186\u306e4\u500d\u306f462\u5104\u5186\u3067\u3001\u73fe\u5728\u306e\u30cd\u30c3\u30c8\u6709\u5229\u5b50\u8ca0\u50b5162\u5104\u5186\u3068\u306e\u5dee\u306f\u7d04300\u5104\u5186\u3067\u3059\uff08\u7b46\u8005\u306e\u6982\u7b97\uff09\u3002<strong>\u4e0a\u5834\u3067\u5f97\u305f30\u5104\u5186\u306f\u300c\u501f\u91d1\u3092\u6e1b\u3089\u3059\u305f\u3081\u300d\u3067\u306f\u306a\u304f\u300c\u3055\u3089\u306b\u501f\u308a\u308b\u305f\u3081\u306e\u982d\u91d1\u300d\u3068\u3057\u3066\u4f7f\u308f\u308c\u308b<\/strong>\u3068\u8aad\u3080\u306e\u304c\u3001\u4f1a\u793e\u306e\u8aac\u660e\u8cc7\u6599\uff08\u300c\u9069\u5207\u306a\u8ca1\u52d9\u898f\u5f8b\u3092\u7dad\u6301\u3057\u3064\u3064\u501f\u5165\u8cc7\u91d1\u3092\u6d3b\u304b\u3057\u81ea\u793e\u4fdd\u6709\u306e\u767a\u96fb\u8a2d\u5099\u3092\u7a4d\u307f\u4e0a\u3052\u300d\uff09\u3068\u6574\u5408\u3057\u307e\u3059\u3002\u8cc7\u91d1\u4f7f\u9014\u3082\u300cPPA\u30b5\u30fc\u30d3\u30b9\u306b\u4fc2\u308b\u8a2d\u5099\u6295\u8cc7\u53ca\u3073\u65b0\u898f\u5546\u6750\u306e\u30b7\u30b9\u30c6\u30e0\u958b\u767a\u8cc7\u91d1\u300d\u3067\u3001\u501f\u5165\u8fd4\u6e08\u306f\u542b\u307e\u308c\u3066\u3044\u307e\u305b\u3093\u3002\u8a2d\u5099\u306e\u65b0\u8a2d\u8a08\u753b\u3067\u306f\u30012026\u5e746\u6708\u301c2028\u5e746\u6708\u306b59.5\u5104\u5186\uff08\u5897\u8cc7\u8cc7\u91d1\u30fb\u81ea\u5df1\u8cc7\u91d1\u30fb\u501f\u5165\u91d1\uff09\u3001\u30b7\u30b9\u30c6\u30e0\u958b\u767a\u306b8.9\u5104\u5186\u3092\u4e88\u5b9a\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">5-8. \u501f\u91d1\u306e\u4e2d\u8eab\u3068\u8ca1\u52d9\u5236\u9650\u6761\u9805<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u6709\u5229\u5b50\u8ca0\u50b5265\u5104\u5186\u306e\u8fd4\u6e08\u30b9\u30b1\u30b8\u30e5\u30fc\u30eb\u306f\u30011\u5e74\u4ee5\u518527\u5104\u5186\u30012\u301c5\u5e74\u306795\u5104\u5186\u30015\u5e74\u8d85\u3067144\u5104\u5186\u3067\u3059\uff08\u62db\u96c6\u901a\u77e5\u306e\u6ce8\u8a18\uff09\u3002\u4e3b\u306a\u501f\u5165\u5148\u306f\u307f\u305a\u307b\u9280\u884c147\u5104\u5186\uff08\u3046\u3061\u30b7\u30f3\u30b8\u30b1\u30fc\u30c8\u30ed\u30fc\u30f3146\u5104\u5186\uff09\u3001\u4e09\u83f1UFJ\u9280\u884c24\u5104\u5186\u3067\u3001\u9577\u671f\u501f\u5165\u91d1184\u5104\u5186\u306e\u3046\u3061148\u5104\u5186\u306b\u306f\u9810\u91d112.9\u5104\u5186\u3068\u58f2\u639b\u91d11.7\u5104\u5186\u304c\u62c5\u4fdd\u306b\u5165\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u878d\u6a5f\u95a2\u3068\u306e\u5951\u7d04\u306b\u306f\u8ca1\u52d9\u5236\u9650\u6761\u9805\u304c9\u672c\u3064\u3044\u3066\u3044\u307e\u3059\u3002\u5171\u901a\u3059\u308b\u306e\u306f\u300c\u7d14\u8cc7\u7523\u3092\u524d\u671f\u672b\uff08\u307e\u305f\u306f\u57fa\u6e96\u5e74\u5ea6\uff09\u306e75%\u4ee5\u4e0a\u306b\u7dad\u6301\u300d\u300c\u7d4c\u5e38\u640d\u5931\u3092\u51fa\u3055\u306a\u3044\u300d\u300cPPA\u4e8b\u696d\u306eDSCR\uff08\u5143\u5229\u91d1\u652f\u6255\u524d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u00f7\u5143\u5229\u91d1\u652f\u6255\u984d\uff091.2\u301c1.25\u4ee5\u4e0a\u300d\u3067\u3059\u3002\u4f1a\u793e\u306f\u300c2022\u5e746\u6708\u671f\u306b\u7d4c\u5e38\u9ed2\u5b57\u7dad\u6301\u306e\u6761\u9805\u306b\u62b5\u89e6\u3057\u305f\u4e8b\u4f8b\u304c\u3042\u308b\u304c\u3001\u91d1\u878d\u6a5f\u95a2\u304b\u3089\u5f01\u6e08\u306f\u6c42\u3081\u3089\u308c\u306a\u304b\u3063\u305f\u300d\u3068\u7533\u8acb\u66f8\u985e\u306b\u66f8\u3044\u3066\u3044\u307e\u3059\u3002\u73fe\u5728\u306e\u7d14\u8cc7\u752385\u5104\u5186\u306b\u5bfe\u3057\u300175%\u30e9\u30a4\u30f3\u306f64\u5104\u5186\u3067\u3059\u3002\u7d4c\u5e38\u5229\u76ca28.7\u5104\u5186\u306e\u4f1a\u793e\u304c1\u5e74\u3067\u7d14\u8cc7\u7523\u309221\u5104\u5186\u6e1b\u3089\u3059\u4e8b\u614b\u306f\u8003\u3048\u306b\u304f\u3044\u3082\u306e\u306e\u3001<strong>\u3053\u306e\u4f1a\u793e\u306e\u501f\u5165\u306f\u300c\u9ed2\u5b57\u3092\u51fa\u3057\u7d9a\u3051\u308b\u3053\u3068\u300d\u3092\u6761\u4ef6\u306b\u6210\u308a\u7acb\u3063\u3066\u3044\u308b<\/strong>\u3053\u3068\u306f\u62bc\u3055\u3048\u3066\u304a\u304d\u305f\u3044\u70b9\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">5-9. \u5927\u682a\u4e3b\u3068\u30ed\u30c3\u30af\u30a2\u30c3\u30d7<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u682a\u4e3b<\/th><th>\u4e0a\u5834\u524d\uff082026\u5e746\u6708\u672b\uff09<\/th><th>\u58f2\u51fa<\/th><th>\u4e0a\u5834\u5f8c\u306e\u6982\u7b97<\/th><th>\u30ed\u30c3\u30af\u30a2\u30c3\u30d7<\/th><\/tr><\/thead><tbody><tr><td>\u4f0a\u85e4\u5fe0\u5546\u4e8b<\/td><td>7,940,000\u682a\uff0824.73%\uff09<\/td><td>\u306a\u3057\uff08OA\u306e\u8cb8\u682a\u4eba\uff09<\/td><td>21.8%<\/td><td>180\u65e5<\/td><\/tr><tr><td>THE FUND\u6295\u8cc7\u4e8b\u696d\u6709\u9650\u8cac\u4efb\u7d44\u5408<\/td><td>4,775,000\u682a\uff0814.87%\uff09<\/td><td>\u306a\u3057<\/td><td>13.1%<\/td><td>180\u65e5<\/td><\/tr><tr><td>ES&amp;G\u30d1\u30fc\u30c8\u30ca\u30fc\u30ba\u6295\u8cc7\u4e8b\u696d\u6709\u9650\u8cac\u4efb\u7d44\u5408<\/td><td>2,900,000\u682a\uff089.03%\uff09<\/td><td>\u306a\u3057<\/td><td>8.0%<\/td><td>180\u65e5<\/td><\/tr><tr><td>\u95a2\u897f\u96fb\u529b<\/td><td>2,600,000\u682a\uff088.10%\uff09<\/td><td>\u5168\u682a<\/td><td>0%<\/td><td>\u2014<\/td><\/tr><tr><td>\u30b7\u30b0\u30de\u30af\u30b7\u30b9\u30fb\u30db\u30fc\u30eb\u30c7\u30a3\u30f3\u30b0\u30b9<\/td><td>1,750,000\u682a\uff085.45%\uff09<\/td><td>\u5168\u682a<\/td><td>0%<\/td><td>\u2014<\/td><\/tr><tr><td>\u8299\u84c9\u7dcf\u5408\u30ea\u30fc\u30b9<\/td><td>1,500,000\u682a\uff084.67%\uff09<\/td><td>550,000\u682a<\/td><td>2.6%<\/td><td>180\u65e5<\/td><\/tr><tr><td>JA\u4e09\u4e95\u30ea\u30fc\u30b9<\/td><td>1,355,000\u682a\uff084.22%\uff09<\/td><td>406,500\u682a<\/td><td>2.6%<\/td><td>180\u65e5<\/td><\/tr><tr><td>\u6771\u6025\u4e0d\u52d5\u7523<\/td><td>1,075,000\u682a\uff083.35%\uff09<\/td><td>\u306a\u3057<\/td><td>3.0%<\/td><td>180\u65e5<\/td><\/tr><tr><td>\u672c\u591a\u8070\u4ecb\uff08\u53d6\u7de0\u5f79\u4f1a\u9577\u30fb\u5275\u696d\u8005\uff09<\/td><td>60,000\u682a\uff080.19%\uff09<\/td><td>60,000\u682a<\/td><td>0%\uff08\u65b0\u682a\u4e88\u7d04\u6a291,250,000\u682a\u306f\u5225\uff09<\/td><td>180\u65e5<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u51fa\u5178\uff1a\u4e0a\u5834\u524d\u306f\u62db\u96c6\u901a\u77e5\u306e\u5927\u682a\u4e3b\u8868\uff082026\u5e746\u670830\u65e5\u73fe\u5728\uff09\u3002\u58f2\u51fa\u3068\u30ed\u30c3\u30af\u30a2\u30c3\u30d7\u306fIPO\u60c5\u5831\u30b5\u30a4\u30c8\u306e\u76ee\u8ad6\u898b\u66f8\u8981\u7d04\uff08\u5831\u9053\u30d9\u30fc\u30b9\u3001\u539f\u6587\u8981\u78ba\u8a8d\uff09\u3002\u4e0a\u5834\u5f8c\u306f\u4e0a\u5834\u5f8c\u682a\u657036,380,000\u682a\u3067\u7b46\u8005\u304c\u6982\u7b97\u3002\u6b63\u5f0f\u306a\u5927\u682a\u4e3b\u8868\u306f9\u670818\u65e5\u63d0\u51fa\u4e88\u5b9a\u306e\u6709\u4fa1\u8a3c\u5238\u5831\u544a\u66f8\u307e\u3067\u51fa\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u8aad\u307f\u53d6\u308c\u308b\u3053\u3068\u3092\u6574\u7406\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e0a\u4f4d\u682a\u4e3b\u306e\u58f2\u51fa\u5408\u8a08\u306f5,366,500\u682a\u3067\u3001\u58f2\u51fa\u7dcf\u65708,051,500\u682a\u3068\u306e\u5dee2,685,000\u682a\u306f\u4e0a\u4f4d10\u540d\u4ee5\u5916\u306e\u682a\u4e3b\u304c\u58f2\u3063\u305f\u3082\u306e<\/strong>\u3067\u3059\uff08\u7b46\u8005\u306e\u5dee\u3057\u5f15\u304d\uff09\u3002\u4e0a\u5834\u7533\u8acb\u66f8\u985e\u306e\u682a\u4e3b\u6570\u306f65\u540d\u3067\u3001\u7247\u5c71\u6643\u6c0f\u30fb\u5c71\u53e3\u8cb4\u5f18\u6c0f\uff08\u5404750,000\u682a\uff09\u306a\u3069\u500b\u4eba\u682a\u4e3b\u3082\u3044\u307e\u3059<\/li>\n\n\n\n<li>\u95a2\u897f\u96fb\u529b\u3068\u30b7\u30b0\u30de\u30af\u30b7\u30b9\u306f\u5168\u682a\u3092\u58f2\u5374\u3057\u3001\u682a\u4e3b\u304b\u3089\u5916\u308c\u307e\u3057\u305f<\/li>\n\n\n\n<li><strong>VC2\u793e\uff08THE FUND\u3001ES&amp;G\u30d1\u30fc\u30c8\u30ca\u30fc\u30ba\uff09\u306f1\u682a\u3082\u58f2\u3089\u305a\u3001\u4e0a\u5834\u5f8c\u3082\u5408\u8a0821.1%\u3092\u6301\u3063\u3066\u3044\u307e\u3059\u3002<\/strong> 2021\u5e74\u30682023\u5e74\u306b1\u682a400\u301c440\u5186\u3067\u5f15\u304d\u53d7\u3051\u305f\u682a\u3067\u3001\u30ed\u30c3\u30af\u30a2\u30c3\u30d7\u304c\u660e\u3051\u305f\u5f8c\u306b\u58f2\u5374\u304c\u59cb\u307e\u308b\u53ef\u80fd\u6027\u306f\u30ea\u30b9\u30af\u3068\u3057\u3066\u7533\u8acb\u66f8\u985e\u306b\u3082\u8a18\u8f09\u304c\u3042\u308a\u307e\u3059<\/li>\n\n\n\n<li>\u4f0a\u85e4\u5fe0\u5546\u4e8b\u306f21.8%\u3067\u30013\u5206\u306e1\uff08\u7279\u5225\u6c7a\u8b70\u306e\u62d2\u5426\u6a29\u30e9\u30a4\u30f3\uff09\u306b\u306f\u7d04419\u4e07\u682a\u8db3\u308a\u307e\u305b\u3093\u3002\u305f\u3060\u3057\u3001\u793e\u5916\u53d6\u7de0\u5f791\u540d\u304c\u4f0a\u85e4\u5fe0\u51fa\u8eab\u3067\u3001\u96fb\u529b\u306e\u4ed5\u5165\u30fb\u8ca9\u58f2\u3084\u8cc7\u6750\u8abf\u9054\u3067\u53d6\u5f15\u95a2\u4fc2\u304c\u3042\u308a\uff082026\u5e746\u6708\u671f\u306e\u95a2\u4fc2\u4f1a\u793e\u304b\u3089\u306e\u4ed5\u5165\u9ad84.5\u5104\u5186\uff09\u3001\u7533\u8acb\u66f8\u985e\u306f\u4f0a\u85e4\u5fe0\u3092\u300c\u7b46\u982d\u682a\u4e3b\u3067\u3042\u308a\u4e8b\u696d\u4e0a\u306e\u91cd\u8981\u306a\u30d1\u30fc\u30c8\u30ca\u30fc\u300d\u3068\u4f4d\u7f6e\u3065\u3051\u3066\u3044\u307e\u3059<\/li>\n\n\n\n<li>\u5275\u696d\u8005\u306e\u672c\u591a\u4f1a\u9577\u306f\u3001\u76f4\u63a5\u4fdd\u6709\u682a\u3092\u4e0a\u5834\u6642\u306b\u3059\u3079\u3066\u58f2\u5374\u3057\u305f\u4e00\u65b9\u3067\u3001\u884c\u4f7f\u4fa1\u984d60\u5186\u306e\u65b0\u682a\u4e88\u7d04\u6a291,250,000\u682a\u3092\u6301\u3063\u3066\u3044\u307e\u3059\uff08IPO\u60c5\u5831\u30b5\u30a4\u30c8\u306e\u8a18\u8f09\u3002\u539f\u6587\u8981\u78ba\u8a8d\uff09<\/li>\n\n\n\n<li>\u30ed\u30c3\u30af\u30a2\u30c3\u30d7\u5bfe\u8c61\u3068\u898b\u3089\u308c\u308b\u4e0a\u4f4d\u682a\u4e3b\u306e\u4fdd\u6709\u306f\u6982\u7b97\u306718,588,500\u682a\uff0851.1%\uff09\u3001\u516c\u52df\u30fb\u58f2\u51fa\u30fbOA\u3067\u5e02\u5834\u306b\u51fa\u305f\u682a\u306f12,321,500\u682a\uff0833.9%\uff09\u3001\u6b8b\u308a5,470,000\u682a\uff0815.0%\uff09\u306f\u305d\u306e\u4ed6\u306e\u682a\u4e3b\u3067\u30ed\u30c3\u30af\u30a2\u30c3\u30d7\u306e\u6709\u7121\u306f\u539f\u6587\u3067\u78ba\u8a8d\u304c\u5fc5\u8981\u3067\u3059<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u30ed\u30c3\u30af\u30a2\u30c3\u30d7\u306f\u4e0a\u5834\u5f8c180\u65e5\u3067\u3001\u4e0a\u5834\u65e5\u30921\u65e5\u76ee\u3068\u6570\u3048\u308c\u30702027\u5e741\u670824\u65e5\uff08\u65e5\u66dc\u65e5\uff09\u3001\u4e0a\u5834\u65e5\u306e\u7fcc\u65e5\u304b\u3089\u6570\u3048\u308c\u30701\u670825\u65e5\uff08\u6708\u66dc\u65e5\uff09\u306b\u660e\u3051\u307e\u3059\u3002<strong>\u4e3b\u5e79\u4e8b\u306e\u88c1\u91cf\u3067\u65e9\u671f\u306b\u89e3\u9664\u3067\u304d\u308b\u6761\u9805\u304c\u4e00\u822c\u7684\u306b\u4ed8\u3044\u3066\u304a\u308a\u3001\u307e\u305f\u7b2c7\u56de\u65b0\u682a\u4e88\u7d04\u6a29\u306e\u4fe1\u8a17\u5206\u306e\u5206\u914d\u3082\u3053\u306e\u6642\u671f\u306b\u52d5\u304d\u51fa\u3059<\/strong>\u306e\u3067\u30012027\u5e741\u6708\u4e0b\u65ec\u306f\u9700\u7d66\u306e\u7bc0\u76ee\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">5-10. \u305d\u306e\u4ed6<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u81ea\u5df1\u682a\u5f0f\uff1a\u4fdd\u6709\u306a\u3057\u3002\u53d6\u5f97\u306e\u767a\u8868\u3082\u3042\u308a\u307e\u305b\u3093<\/li>\n\n\n\n<li>\u4fdd\u6709\u6709\u4fa1\u8a3c\u5238\uff1a\u6295\u8cc7\u6709\u4fa1\u8a3c\u5238\u306f\u975e\u4e0a\u5834\u682a\u5f0f1\u9298\u67c414.9\u767e\u4e07\u5186\u3001\u51fa\u8cc7\u91d150.5\u767e\u4e07\u5186\u3002\u542b\u307f\u76ca\u306e\u8ad6\u70b9\u306b\u306f\u306a\u308a\u307e\u305b\u3093<\/li>\n\n\n\n<li>\u682a\u5f0f\u5206\u5272\u30fb\u4f75\u5408\uff1a2025\u5e741\u6708\u306e1:5,000\u5206\u5272\u306e\u307f\u3067\u3001\u4e0a\u5834\u5f8c\u306e\u5206\u5272\u30fb\u4f75\u5408\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u904e\u53bb\u306eEPS\u30fbBPS\u306f\u3059\u3079\u3066\u5206\u5272\u5f8c\u306b\u63db\u7b97\u6e08\u307f\u3067\u3001\u8ffd\u52a0\u306e\u8abf\u6574\u306f\u4e0d\u8981\u3067\u3059<\/li>\n\n\n\n<li>\u682a\u4e3b\u512a\u5f85\uff1a\u5236\u5ea6\u306a\u3057\uff08\u4f1a\u793eIR\u306eFAQ\u306b\u300c\u682a\u4e3b\u512a\u5f85\u306f\u5b9f\u65bd\u3057\u3066\u304a\u308a\u307e\u305b\u3093\u300d\u3068\u660e\u8a18\uff09<\/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\">6. \u682a\u4fa1\u306e\u898b\u65b9<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">6-1. \u4e8b\u5b9f<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u516c\u958b\u4fa1\u683c770\u5186\u3001\u521d\u5024953\u5186\uff087\u670829\u65e5\uff09\u3002\u4e0a\u5834\u65e5\u306e\u7d42\u5024\u306f\u521d\u5024\u3092\u4e0b\u56de\u308a\u307e\u3057\u305f\uff08\u5831\u9053\u30d9\u30fc\u30b9\uff09<\/li>\n\n\n\n<li>8\u67083\u65e5\u306b\u4e0a\u5834\u6765\u5b89\u5024670\u5186\uff08\u516c\u52df\u6bd4\u25b313.0%\uff09<\/li>\n\n\n\n<li>\u6c7a\u7b97\u767a\u8868\u5f53\u65e5\uff088\u670814\u65e5\u300115\u664230\u5206\u767a\u8868\uff09\u306e\u7d42\u5024\u306f851\u5186\u3002\u7fcc\u55b6\u696d\u65e58\u670817\u65e5\u306f\u59cb\u5024791\u5186\u3001\u5b89\u5024745\u5186\u3001\u7d42\u5024817\u5186<\/li>\n\n\n\n<li>8\u670828\u65e5\u4ee5\u964d\u306b\u4e0a\u6607\u3057\u30019\u67084\u65e5\u306f\u59cb\u50241,329\u5186\u3001\u9ad8\u50241,449\u5186\u3001\u5b89\u50241,124\u5186\u3001\u7d42\u50241,145\u5186\u3002\u51fa\u6765\u9ad814,284,700\u682a\u306f\u767a\u884c\u6e08\u682a\u5f0f\u6570\u306e39.3%\u306b\u76f8\u5f53\u3057\u307e\u3059<\/li>\n\n\n\n<li>9\u67084\u65e5\u306b\u3064\u3044\u3066\u4f1a\u793e\u306e\u9069\u6642\u958b\u793a\u306f\u306a\u304f\u3001\u7b46\u8005\u304c\u78ba\u8a8d\u3057\u305f\u7bc4\u56f2\u3067\u5831\u9053\u4e0a\u306e\u6750\u6599\u3082\u7279\u5b9a\u3067\u304d\u3066\u3044\u307e\u305b\u3093\u3002\u65e5\u4e2d\u306e\u5024\u5e45\uff081,124\u301c1,449\u5186\uff09\u3068\u51fa\u6765\u9ad8\u304b\u3089\u898b\u3066\u9700\u7d66\u4e3b\u5c0e\u306e\u5024\u52d5\u304d\u3068\u8003\u3048\u3089\u308c\u307e\u3059\u304c\u3001\u89e3\u91c8\u306f\u8aad\u8005\u306b\u304a\u4efb\u305b\u3057\u307e\u3059<\/li>\n\n\n\n<li>9\u67084\u65e5\u7d42\u50241,145\u5186\u306e\u6642\u4fa1\u7dcf\u984d\u306f\u7d04417\u5104\u5186\uff08\u4e0a\u5834\u5f8c\u682a\u6570\u30d9\u30fc\u30b9\u3001\u7b46\u8005\u306e\u6982\u7b97\uff09<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">6-2. \u5f37\u6c17\u306b\u8aad\u3080\u6750\u6599<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u4e0a\u5834\u76f4\u5f8c\u306e\u521d\u6c7a\u7b97\u3067\u8a08\u753b\u3092\u5168\u6bb5\u968e\u3067\u4e0a\u56de\u308a\u3001\u7fcc\u671f\u306e\u8a08\u753b\uff08\u7d14\u5229\u76ca+10.3%\uff09\u306f\u300c\u4e0a\u632f\u308c\u5f8c\u306e\u5b9f\u7e3e\u304c\u5206\u6bcd\u300d\u306a\u306e\u3067\u898b\u304b\u3051\u3088\u308a\u4fdd\u5b88\u7684\u3002\u4e0a\u5834\u6642\u8a08\u753b\u3068\u306e\u6bd4\u8f03\u3067\u306f\u7d14\u5229\u76ca+24.2%\u76f8\u5f53\u3002\u4f1a\u793e\u81ea\u8eab\u304cQ&amp;A\u3067\u300c\u4fdd\u5b88\u7684\u3068\u3044\u3046\u8a55\u4fa1\u3092\u3044\u305f\u3060\u304f\u53ef\u80fd\u6027\u306f\u627f\u77e5\u3057\u3066\u3044\u308b\u300d\u3068\u8ff0\u3079\u3066\u3044\u308b<\/li>\n\n\n\n<li>\u5951\u7d04\u6e08\u5bb9\u91cf239MW\u306f\u5e74\u9593\u958b\u767a\u91cf87MW\u306e2\u5e74\u534a\u5206\u3002\u81ea\u8ca9\u6a5f\u3092\u7f6e\u304f\u5834\u6240\u306e\u4e88\u7d04\u306f\u7a4d\u307f\u4e0a\u304c\u3063\u3066\u3044\u308b<\/li>\n\n\n\n<li>\u30a2\u30e9\u30a4\u30a2\u30f3\u30b9\u306e\u7d44\u6210\u304c\u7d2f\u8a08\u7d04400\u5104\u5186\u898f\u6a21\u3067\u3001\u6771\u6025\u4e0d\u52d5\u7523\u306e\u7b2c2\u5f3e100\u5104\u5186\u3082\u8a2d\u7acb\u6e08\u307f\u3002\u4ed6\u793e\u306e\u8cc7\u91d1\u3067\u81ea\u793e\u306e\u6280\u8853\uff08\u4f59\u5270\u96fb\u529b\u5faa\u74b0\uff09\u3092\u4f7f\u3063\u305f\u767a\u96fb\u6240\u3092\u5897\u3084\u305b\u308b<\/li>\n\n\n\n<li>\u4e0a\u5834\u3067\u7d14\u8cc7\u7523\u304c3\u5272\u5897\u3048\u3001\u30cd\u30c3\u30c8D\/E\u304c1.4\u500d\u7a0b\u5ea6\u307e\u3067\u4e0b\u304c\u3063\u305f\u306e\u3067\u3001\u501f\u5165\u4f59\u529b\u304c\u5e83\u304c\u3063\u305f<\/li>\n\n\n\n<li>4\u5e74\u9023\u7d9a\u306e\u30aa\u30f3\u30b5\u30a4\u30c8PPA\u56fd\u5185\u30b7\u30a7\u30a21\u4f4d\uff08\u5bcc\u58eb\u7d4c\u6e08\u8abf\u67fb\u300114.0%\uff09\u3002\u592a\u967d\u5149\u306e\u4e3b\u529b\u304c\u30e1\u30ac\u30bd\u30fc\u30e9\u30fc\u304b\u3089\u5c4b\u6839\u4e0a\u306b\u79fb\u308b\u653f\u7b56\u306e\u6d41\u308c\uff08\u6539\u6b63\u7701\u30a8\u30cd\u6cd5\u306b\u3088\u308b\u5c4b\u6839\u8a2d\u7f6e\u76ee\u6a19\u306e\u7b56\u5b9a\u7fa9\u52d9\u5316\u306a\u3069\uff09\u306f\u8ffd\u3044\u98a8<\/li>\n\n\n\n<li>\u76f4\u524d\u306e\u79c1\u52df\u4fa1\u683c440\u5186\u306b\u5bfe\u3057\u3066\u516c\u52df770\u5186\u306e\u30a2\u30c3\u30d7\u30e9\u30a6\u30f3\u30c9\u3067\u3001\u521d\u671f\u6295\u8cc7\u5bb6\u306e\u542b\u307f\u76ca\u306f\u5927\u304d\u3044\u304c\u3001VC2\u793e\u304c\u58f2\u308a\u6025\u3044\u3067\u3044\u306a\u3044<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">6-3. \u5f31\u6c17\u306b\u8aad\u3080\u6750\u6599<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u81ea\u8ca9\u6a5f\u3092\u501f\u91d1\u3067\u8cb7\u3044\u7d9a\u3051\u3066\u304d\u305f\u69cb\u9020\u306f\u5909\u308f\u3089\u305a\u3001\u4f1a\u793e\u306f\u30cd\u30c3\u30c8D\/E4.0\u500d\u307e\u3067\u501f\u308a\u308b\u65b9\u91dd\u3002\u91d1\u5229\u304c1%\u4e0a\u304c\u308b\u3068\u65b0\u898f\u501f\u5165\u5206\u306e\u30b3\u30b9\u30c8\u306f\u4e0a\u304c\u308a\u3001\u65e2\u5b58\u5206\u3082\u30b9\u30ef\u30c3\u30d7\u3084\u30ea\u30fc\u30b9\u306e\u66f4\u65b0\u6642\u306b\u52b9\u3044\u3066\u304f\u308b\u3002\u652f\u6255\u5229\u606f6.7\u5104\u5186\u306f\u55b6\u696d\u5229\u76ca\u306e19%\u3001\u7d14\u8cc7\u7523\u306e8%<\/li>\n\n\n\n<li>\u6210\u9577\u306e\u4e3b\u5f79\u30a2\u30e9\u30a4\u30a2\u30f3\u30b9\u306f\u7c97\u5229\u738725%\u306e\u58f2\u308a\u5207\u308a\u5546\u58f2\u3067\u3001\u30d5\u30ed\u30fc\u6bd4\u7387\u304c\u4e0a\u304c\u308b\u307b\u3069\u300c\u6765\u5e74\u3082\u540c\u3058\u91cf\u3092\u4f5c\u3089\u306a\u3044\u3068\u5229\u76ca\u304c\u7d9a\u304b\u306a\u3044\u300d\u69cb\u9020\u306b\u306a\u308b\u3002\u3057\u304b\u3082\u8ca9\u58f2\u5148\u306fTLC VPP\u5408\u540c\u4f1a\u793e1\u793e\u3067\u58f2\u4e0a\u306e2\u5272\u8d85<\/li>\n\n\n\n<li>20\u5e74\u56fa\u5b9a\u5358\u4fa1\u306e\u58f2\u96fb\u5951\u7d04\u306f\u3001\u7269\u4fa1\u3068\u91d1\u5229\u304c\u4e0a\u304c\u308b\u5c40\u9762\u3067\u306f\u56fa\u5b9a\u53ce\u5165\u306e\u5b9f\u8cea\u4fa1\u5024\u304c\u76ee\u6e1b\u308a\u3059\u308b\uff08\u7533\u8acb\u66f8\u985e\u306e\u30ea\u30b9\u30af\u9805\u76ee\uff09\u3002\u64a4\u53bb\u8cbb\u7528\uff08\u8cc7\u7523\u9664\u53bb\u50b5\u52d942\u5104\u5186\uff09\u306f\u9006\u306b\u898b\u7a4d\u308a\u304c\u5897\u3048\u308b\u65b9\u5411<\/li>\n\n\n\n<li>\u884c\u4f7f\u4fa1\u984d60\u5186\u30fb400\u5186\u306e\u65b0\u682a\u4e88\u7d04\u6a29439\u4e07\u682a\uff08\u4e0a\u5834\u5f8c\u682a\u6570\u306e12%\uff09\u3068\u3001VC2\u793e\u306e21%\u304c\u3001\u30ed\u30c3\u30af\u30a2\u30c3\u30d7\u89e3\u9664\uff082027\u5e741\u6708\u4e0b\u65ec\uff09\u5f8c\u306b\u58f2\u308a\u5727\u529b\u306b\u306a\u308a\u5f97\u308b<\/li>\n\n\n\n<li>\u7b2c4\u56db\u534a\u671f\u306e\u7a0e\u8ca0\u62c5\u738739.7%\u306e\u7406\u7531\u304c\u672a\u78ba\u8a8d\u3002\u6765\u671f\u306e\u7a0e\u7387\u6b21\u7b2c\u3067\u7d14\u5229\u76ca\u306e\u7740\u5730\u304c\u4e0a\u4e0b\u3059\u308b<\/li>\n\n\n\n<li>9\u67084\u65e5\u306e\u51fa\u6765\u9ad8\u304c\u767a\u884c\u6e08\u306e4\u5272\u306b\u9054\u3059\u308b\u9700\u7d66\u4e3b\u5c0e\u306e\u5024\u52d5\u304d\u306e\u5f8c\u3067\u3001\u682a\u4fa1\u306e\u6c34\u6e96\u304c\u4e8b\u696d\u306e\u5b9f\u529b\u3092\u53cd\u6620\u3057\u3066\u3044\u308b\u304b\u306f\u5224\u65ad\u304c\u96e3\u3057\u3044\u3002PER\u306f\u5206\u6bcd\u306e\u682a\u6570\u6b21\u7b2c\u306718.5\u500d\u301c21.8\u500d\u3068\u5e45\u304c\u3042\u308b<\/li>\n\n\n\n<li>\u4e0a\u5834\u627f\u8a8d\u304b\u3089\u6c7a\u7b97\u307e\u3067\u3001\u96fb\u529b\u5c0f\u58f2\u306e\u7e2e\u5c0f\u3001\u4f0a\u85e4\u5fe0\u3078\u306e\u4e00\u90e8\u4f9d\u5b58\u3001\u8ca1\u52d9\u5236\u9650\u6761\u9805\u306e\u62b5\u89e6\u6b74\uff082022\u5e746\u6708\u671f\uff09\u3068\u3044\u3063\u305f\u958b\u793a\u306f\u7533\u8acb\u66f8\u985e\u306b\u8f09\u3063\u3066\u304a\u308a\u3001\u300c\u77e5\u3089\u308c\u3066\u3044\u306a\u3044\u30ea\u30b9\u30af\u300d\u3067\u306f\u306a\u3044\u304c\u3001\u4e0a\u5834\u76f4\u5f8c\u3067\u5e02\u5834\u306e\u8a55\u4fa1\u304c\u56fa\u307e\u3063\u3066\u3044\u306a\u3044<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">6-4. \u7b46\u8005\u306e\u898b\u89e3<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u6570\u5b57\u3092\u6574\u7406\u3057\u305f\u4e0a\u3067\u306e\u611f\u60f3\u3068\u3057\u3066\u306f\u3001\u300c\u4e8b\u696d\u306e\u4e2d\u8eab\u300d\u3088\u308a\u300c\u682a\u6570\u3068\u501f\u91d1\u306e\u8aad\u307f\u65b9\u300d\u3067\u8a55\u4fa1\u304c\u5272\u308c\u308b\u9298\u67c4\u3060\u3068\u611f\u3058\u307e\u3059\u3002EPS61.88\u5186\u3092\u305d\u306e\u307e\u307e\u4f7f\u3046\u4eba\u3068\u3001\u5b8c\u5168\u5e0c\u8584\u5316\u5f8c52.5\u5186\u3092\u4f7f\u3046\u4eba\u3067\u306f\u3001\u540c\u3058\u682a\u4fa1\u3067PER\u304c2\u5272\u9055\u3044\u307e\u3059\u3002\u30cd\u30c3\u30c8D\/E1.4\u500d\u3092\u300c\u5065\u5168\u5316\u3057\u305f\u300d\u3068\u8aad\u3080\u4eba\u3068\u3001\u300c4\u500d\u307e\u3067\u501f\u308a\u308b\u5ba3\u8a00\u306e\u9014\u4e2d\u300d\u3068\u8aad\u3080\u4eba\u3067\u3082\u898b\u3048\u65b9\u306f\u5909\u308f\u308a\u307e\u3059\u3002\u3069\u3061\u3089\u304c\u6b63\u3057\u3044\u304b\u306f\u6c7a\u3081\u3089\u308c\u307e\u305b\u3093\u304c\u3001<strong>\u3069\u3061\u3089\u306e\u6570\u5b57\u3067\u898b\u3066\u3044\u308b\u304b\u3092\u81ea\u899a\u3057\u305f\u4e0a\u3067\u5224\u65ad\u3059\u308b<\/strong>\u3053\u3068\u304c\u3001\u3053\u306e\u9298\u67c4\u3067\u306f\u7279\u306b\u5927\u4e8b\u3060\u3068\u8003\u3048\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\">7. \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>\u65e5\u4ed8<\/th><th>\u51fa\u6765\u4e8b<\/th><th>\u78ba\u8a8d\u3057\u305f\u3044\u3053\u3068<\/th><\/tr><\/thead><tbody><tr><td>2026\u5e749\u670818\u65e5\uff08\u91d1\uff09<\/td><td>\u6709\u4fa1\u8a3c\u5238\u5831\u544a\u66f8\u306e\u63d0\u51fa\u4e88\u5b9a<\/td><td>\u6b63\u5f0f\u306a\u5927\u682a\u4e3b\u8868\uff08\u4e0a\u5834\u5f8c\uff09\u3001\u7a0e\u52b9\u679c\u6ce8\u8a18\uff08\u7b2c4\u56db\u534a\u671f\u306e\u7a0e\u7387\uff09\u3001TLC VPP\u5408\u540c\u4f1a\u793e\u3078\u306e\u901a\u671f\u306e\u58f2\u4e0a\u6bd4\u7387\u3001\u30ed\u30c3\u30af\u30a2\u30c3\u30d7\u5bfe\u8c61\u306e\u8a73\u7d30<\/td><\/tr><tr><td>2026\u5e749\u670824\u65e5\uff08\u6728\uff09<\/td><td>\u5b9a\u6642\u682a\u4e3b\u7dcf\u4f1a<\/td><td>\u5b9a\u6b3e\u5909\u66f4\uff08\u53d6\u7de0\u5f79\u4efb\u671f1\u5e74\u3001\u914d\u5f53\u306e\u6c7a\u5b9a\u6a5f\u95a2\uff09\u306e\u53ef\u6c7a<\/td><\/tr><tr><td>2026\u5e7411\u6708\u4e2d\u65ec\uff08\u63a8\u5b9a\uff09<\/td><td>\u7b2c1\u56db\u534a\u671f\u6c7a\u7b97\uff087\u301c9\u6708\uff09<\/td><td>GX\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u4e8b\u696d\u306e\u9591\u6563\u671f\u3002\u524d\u5e74\u540c\u671f\u306e\u56db\u534a\u671f\u6570\u5024\u304c\u521d\u3081\u3066\u6bd4\u8f03\u53ef\u80fd\u306b\u306a\u308b\uff082025\u5e747\u301c9\u6708\u306e\u6570\u5024\u306f\u958b\u793a\u3055\u308c\u3066\u3044\u306a\u3044\u305f\u3081\u3001\u4f1a\u793e\u304c\u51fa\u3059\u304b\u3069\u3046\u304b\u8981\u78ba\u8a8d\uff09<\/td><\/tr><tr><td>2027\u5e741\u670824\u65e5\u307e\u305f\u306f25\u65e5<\/td><td>\u30ed\u30c3\u30af\u30a2\u30c3\u30d7180\u65e5\u306e\u6e80\u4e86<\/td><td>VC2\u793e\u30fb\u4f0a\u85e4\u5fe0\u30fb\u30ea\u30fc\u30b92\u793e\u30fb\u6771\u6025\u4e0d\u52d5\u7523\u306e\u52d5\u304d\u3002\u7b2c7\u56de\u65b0\u682a\u4e88\u7d04\u6a29\u306e\u4fe1\u8a17\u5206\u306e\u5206\u914d\u958b\u59cb<\/td><\/tr><tr><td>2027\u5e742\u6708\u4e2d\u65ec\uff08\u63a8\u5b9a\uff09<\/td><td>\u4e2d\u9593\u6c7a\u7b97\uff087\u301c12\u6708\uff09<\/td><td>\u901a\u671f\u4e88\u60f3\u306e\u4fee\u6b63\u6709\u7121<\/td><\/tr><tr><td>2027\u5e746\u670828\u65e5\uff08\u6708\uff09<\/td><td>\u6a29\u5229\u4ed8\u304d\u6700\u7d42\u65e5\uff08\u7121\u914d\u306a\u306e\u3067\u8b70\u6c7a\u6a29\u306e\u307f\uff09<\/td><td>\u2014<\/td><\/tr><tr><td>2027\u5e748\u6708\u4e2d\u65ec\uff08\u63a8\u5b9a\uff09<\/td><td>2027\u5e746\u6708\u671f\u901a\u671f\u6c7a\u7b97<\/td><td>\u4e0a\u5834\u5f8c\u521d\u306e\u300c\u524d\u5e74\u6bd4\u8f03\u304c\u3067\u304d\u308b\u300d\u672c\u6c7a\u7b97<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u898b\u308b\u3079\u304dKPI\u306f\u3001\u4f1a\u793e\u304c\u7533\u8acb\u66f8\u985e\u3067\u300c\u7d4c\u55b6\u4e0a\u306e\u76ee\u6a19\u306e\u9054\u6210\u72b6\u6cc1\u3092\u5224\u65ad\u3059\u308b\u6307\u6a19\u300d\u3068\u3057\u3066\u6319\u3052\u3066\u3044\u308b6\u3064\u3067\u3059\u3002<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>\u30aa\u30f3\u30b5\u30a4\u30c8PPA\u7d2f\u8a08\u958b\u767a\u5bb9\u91cf\u30fb\u4ef6\u6570\uff082026\u5e746\u6708\u672b\uff1a387MW\u30fb1,497\u4ef6\uff09<\/li>\n\n\n\n<li>\u5951\u7d04\u6e08\u5bb9\u91cf\u30fb\u6848\u4ef6\u6570\uff08\u540c239MW\u30fb468\u4ef6\uff09\u2014\u2014\u30a2\u30e9\u30a4\u30a2\u30f3\u30b9\u306e\u6bd4\u7387\u304c\u4e0a\u304c\u308b\u307b\u3069\u3001\u3053\u306e\u5148\u884c\u6307\u6a19\u306e\u91cd\u307f\u304c\u5897\u3057\u307e\u3059<\/li>\n\n\n\n<li>GX\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u4e8b\u696d\u306e\u30d5\u30ed\u30fc\u53ce\u76ca\uff08\u30a2\u30e9\u30a4\u30a2\u30f3\u30b9\u3068\u30a4\u30f3\u30c6\u30b0\u30ec\u30fc\u30b7\u30e7\u30f3\u306e\u5c0e\u5165\u6642\u7c97\u5229\u30022026\u5e746\u6708\u671f\u306f1,937\uff0b1,047\uff1d2,984\u767e\u4e07\u5186\uff09<\/li>\n\n\n\n<li>\u96fb\u529b\u8ca9\u58f2\u91cf\uff084.1\u5104kWh\uff09\u2014\u2014\u5faa\u74b0\u578b\u96fb\u529b\u3067\u53cd\u8ee2\u3059\u308b\u304b<\/li>\n\n\n\n<li>\u58f2\u4e0a\u7dcf\u5229\u76ca\uff087,046\u767e\u4e07\u5186\uff09<\/li>\n\n\n\n<li>EBITDA\uff085,748\u767e\u4e07\u5186\uff09<\/li>\n<\/ol>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u308c\u306b\u7b46\u8005\u3068\u3057\u3066\u306f\u3001\u30cd\u30c3\u30c8D\/E\u30ec\u30b7\u30aa\uff08\u4f1a\u793e\u76ee\u5b894.0\u500d\u306b\u5bfe\u3057\u3066\u3069\u3053\u307e\u3067\u4f7f\u3046\u304b\uff09\u3068\u3001TLC VPP\u5408\u540c\u4f1a\u793e\u3078\u306e\u58f2\u4e0a\u4f9d\u5b58\u5ea6\u3092\u52a0\u3048\u3066\u898b\u305f\u3044\u3068\u3053\u308d\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\">8. 3\u884c\u307e\u3068\u3081<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u4e0a\u5834\u5f8c\u521d\u306e\u901a\u671f\u6c7a\u7b97\u306f\u3001\u58f2\u4e0a256\u5104\u5186\u30fb\u7d14\u5229\u76ca19.4\u5104\u5186\u3067\u4e0a\u5834\u6642\u8a08\u753b\u3092\u5168\u6bb5\u968e\u3067\u4e0a\u56de\u3063\u305f\u3002\u6210\u9577\u306e\u4e3b\u5f79\u306f\u3001\u767a\u96fb\u6240\u3092\u4f5c\u3063\u3066\u30d1\u30fc\u30c8\u30ca\u30fc\u306b\u58f2\u308b\u300c\u30a2\u30e9\u30a4\u30a2\u30f3\u30b9\u300d\u3067\u3001\u5229\u76ca\u7387\u306f\u4e0b\u304c\u308b\u304c\u8cc7\u672c\u52b9\u7387\u306f\u4e0a\u304c\u308b\u5546\u58f2<\/li>\n\n\n\n<li>\u4e0a\u5834\u524d\u306e\u8cb8\u501f\u5bfe\u7167\u8868\u3067\u898b\u305f\u81ea\u5df1\u8cc7\u672c\u6bd4\u738719.3%\u30fbPBR4.3\u500d\u306f\u3001\u4e0a\u5834\u5f8c\u306e\u6982\u7b97\u3067\u306f24%\u30fb3.6\u500d\u3002\u4f1a\u793eEPS61.88\u5186\u306f\u5b9f\u682a\u6570\u3067\u306f58.8\u5186\u3001\u65b0\u682a\u4e88\u7d04\u6a29\u3092\u3059\u3079\u3066\u6570\u3048\u308b\u306852.5\u5186\u3067\u3001\u3069\u306e\u5206\u6bcd\u3092\u4f7f\u3046\u304b\u3067PER\u306f18.5\u301c21.8\u500d\u3068\u5e45\u304c\u3042\u308b<\/li>\n\n\n\n<li>\u501f\u91d1\u3067\u767a\u96fb\u6240\u3092\u5897\u3084\u3059\u69cb\u9020\u306f\u4e0a\u5834\u5f8c\u3082\u5909\u308f\u3089\u305a\u3001\u4f1a\u793e\u306f\u30cd\u30c3\u30c8D\/E4.0\u500d\u3092\u76ee\u5b89\u306b\u501f\u5165\u3092\u7d9a\u3051\u308b\u65b9\u91dd\u30022027\u5e741\u6708\u4e0b\u65ec\u306e\u30ed\u30c3\u30af\u30a2\u30c3\u30d7\u89e3\u9664\u3068\u3001\u884c\u4f7f\u4fa1\u984d60\u5186\u306e\u65b0\u682a\u4e88\u7d04\u6a29\u304c\u9700\u7d66\u306e\u7bc0\u76ee<\/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\">\u514d\u8cac\u4e8b\u9805<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u672c\u8a18\u4e8b\u306f\u3001\u6c7a\u7b97\u77ed\u4fe1\u7b49\u306e\u516c\u958b\u60c5\u5831\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\u9298\u67c4\u306e\u58f2\u8cb7\u3092\u63a8\u5968\u30fb\u52e7\u8a98\u3059\u308b\u3082\u306e\u3067\u306f\u306a\u304f\u3001\u6295\u8cc7\u52a9\u8a00\u3067\u3082\u3042\u308a\u307e\u305b\u3093\u3002\u8a18\u8f09\u3057\u305f\u6570\u5024\u306f\u30012026\u5e746\u6708\u671f\u6c7a\u7b97\u77ed\u4fe1\uff082026\u5e748\u670814\u65e5\uff09\u3001\u4e0a\u5834\u306b\u4f34\u3046\u6c7a\u7b97\u60c5\u5831\u7b49\u306e\u304a\u77e5\u3089\u305b\uff087\u670829\u65e5\uff09\u3001\u6c7a\u7b97\u8aac\u660e\u8cc7\u6599\uff088\u670814\u65e5\uff09\u3001\u6c7a\u7b97\u8aac\u660e\u4f1a\u306e\u66f8\u304d\u8d77\u3053\u3057\u516c\u958b\u53ca\u3073\u3088\u304f\u3042\u308b\u8cea\u554f\u3068\u56de\u7b54\uff088\u670821\u65e5\uff09\u3001\u7b2c\u4e09\u8005\u5272\u5f53\u5897\u8cc7\u306e\u7d50\u679c\u306b\u95a2\u3059\u308b\u304a\u77e5\u3089\u305b\uff088\u670821\u65e5\uff09\u3001\u7b2c23\u671f\u5b9a\u6642\u682a\u4e3b\u7dcf\u4f1a\u62db\u96c6\u901a\u77e5\uff089\u67083\u65e5\uff09\u3001\u8ca1\u52d9\u4e0a\u306e\u7279\u7d04\u304c\u4ed8\u3055\u308c\u305f\u501f\u5165\u306e\u5b9f\u65bd\u306b\u3064\u3044\u3066\uff088\u670828\u65e5\uff09\u3001\u65b0\u898f\u4e0a\u5834\u7533\u8acb\u306e\u305f\u3081\u306e\u6709\u4fa1\u8a3c\u5238\u5831\u544a\u66f8\uff08\u2160\u306e\u90e8\u30016\u670825\u65e5\uff09\u3001\u4f1a\u793eIR\u30b5\u30a4\u30c8\u306eFAQ\u3001\u304a\u3088\u3073\u5831\u9053\u30fbIPO\u60c5\u5831\u30b5\u30a4\u30c8\u306b\u57fa\u3065\u304d\u307e\u3059\u3002\u300c\u7b46\u8005\u306e\u6982\u7b97\u300d\u300c\u7b46\u8005\u306e\u8a66\u7b97\u300d\u300c\u7b46\u8005\u306e\u5dee\u3057\u5f15\u304d\u300d\u3068\u8a18\u3057\u305f\u6570\u5024\u306f\u4f1a\u793e\u958b\u793a\u3067\u306f\u306a\u304f\u7b46\u8005\u306e\u8a08\u7b97\u3067\u3059\u3002\u682a\u4fa1\u30fb\u6642\u4fa1\u7dcf\u984d\u30fbPER\u30fbPBR\u306f2026\u5e749\u67084\u65e5\u7d42\u5024\u6642\u70b9\u306e\u3082\u306e\u3067\u3001\u516c\u958b\u6642\u70b9\u3067\u306f\u5909\u52d5\u3057\u3066\u3044\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002\u6c7a\u7b97\u8aac\u660e\u4f1a\u306e\u66f8\u304d\u8d77\u3053\u3057\uff08\u30ed\u30b0\u30df\u30fc\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\uff09\u306e\u8cea\u7591\u5fdc\u7b54\u90e8\u5206\u306f\u4f1a\u54e1\u9650\u5b9a\u306e\u305f\u3081\u7b46\u8005\u306f\u8aad\u3093\u3067\u304a\u3089\u305a\u3001\u8cea\u7591\u306e\u5185\u5bb9\u306f\u4f1a\u793e\u304c\u5225\u9014\u958b\u793a\u3057\u305fQ&amp;A\u306b\u57fa\u3065\u3044\u3066\u3044\u307e\u3059\u3002\u58f2\u51fa\u4eba\u306e\u5185\u8a33\u30fb\u30ed\u30c3\u30af\u30a2\u30c3\u30d7\u306e\u5bfe\u8c61\u8005\u30fb\u672c\u591a\u4f1a\u9577\u306e\u4fdd\u6709\u682a\u6570\u306f\u76ee\u8ad6\u898b\u66f8\u306e\u8981\u7d04\u30b5\u30a4\u30c8\u306e\u8a18\u8f09\u3067\u3042\u308a\u3001\u539f\u6587\uff08\u6709\u4fa1\u8a3c\u5238\u5c4a\u51fa\u66f8\u30fb\u76ee\u8ad6\u898b\u66f8\uff09\u3067\u306e\u78ba\u8a8d\u3092\u63a8\u5968\u3057\u307e\u3059\u3002\u4e0a\u5834\u7533\u8acb\u66f8\u985e\u306e\u300c\u7b2c\u56db\u90e8 \u682a\u5f0f\u516c\u958b\u60c5\u5831\u300d\u306f\u672c\u8a18\u4e8b\u306e\u57f7\u7b46\u6642\u70b9\u3067\u539f\u6587\u3092\u78ba\u8a8d\u3067\u304d\u3066\u3044\u307e\u305b\u3093\u3002\u672c\u8a18\u4e8b\u3067\u8e0f\u307f\u8fbc\u307e\u306a\u304b\u3063\u305f\u8ad6\u70b9\u3068\u3057\u3066\u3001\u6709\u4fa1\u8a3c\u5238\u5831\u544a\u66f8\uff089\u670818\u65e5\u63d0\u51fa\u4e88\u5b9a\uff09\u3067\u78ba\u8a8d\u3059\u3079\u304d\u4e8b\u9805\u2014\u2014\u4e0a\u5834\u5f8c\u306e\u6b63\u5f0f\u306a\u5927\u682a\u4e3b\u8868\u3001\u7b2c4\u56db\u534a\u671f\u306e\u7a0e\u8ca0\u62c5\u7387\u306e\u8981\u56e0\u3001TLC VPP\u5408\u540c\u4f1a\u793e\u3078\u306e\u901a\u671f\u306e\u58f2\u4e0a\u4f9d\u5b58\u5ea6\u3001\u30ed\u30c3\u30af\u30a2\u30c3\u30d7\u306e\u6b63\u78ba\u306a\u5bfe\u8c61\u3068\u88c1\u91cf\u89e3\u9664\u6761\u9805\u3001\u95a2\u9023\u5f53\u4e8b\u8005\u53d6\u5f15\u306e\u8a73\u7d30\u2014\u2014\u304c\u3042\u308a\u307e\u3059\u3002\u682a\u4e3b\u512a\u5f85\u304c\u306a\u3044\u3053\u3068\u306f\u4f1a\u793eIR\u30b5\u30a4\u30c8\u306eFAQ\u3067\u306e\u4f1a\u793e\u306e\u660e\u8a00\u306b\u57fa\u3065\u304d\u307e\u3059\u3002<\/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\u30fbEDINET\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\u67085\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":[641,642,633,635],"class_list":["post-241","post","type-post","status-publish","format-standard","hentry","category-590","tag-ppa","tag-642","tag-633","tag-635"],"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=241\" \/>\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\u5e748\u6708\u767a\u8868\u30fb2026\u5e746\u6708\u671f\u901a\u671f\u6c7a\u7b97\u3011\u30a2\u30a4\u30fb\u30b0\u30ea\u30c3\u30c9\u30fb\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u30ba\uff08603A\uff09\u2014\u2014\u5e97\u306e\u5c4b\u6839\u306b\u300c\u81ea\u8ca9\u6a5f\u300d\u3092\u7f6e\u304d\u7d9a\u3051\u308b\u4f1a\u793e\u306e\u521d\u6c7a\u7b97\u306f\u8a08\u753b\u8d85\u3048\u3002\u305f\u3060\u3057\u300cEPS61\u5186\u300d\u300cPER17\u500d\u300d\u306f\u3069\u306e\u682a\u6570\u306e\u8a71\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=241\" \/>\n\t\t<meta property=\"article:published_time\" content=\"2026-09-05T04:08:54+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2026-09-05T16:11:03+00:00\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary\" \/>\n\t\t<meta name=\"twitter:title\" content=\"\u30102026\u5e748\u6708\u767a\u8868\u30fb2026\u5e746\u6708\u671f\u901a\u671f\u6c7a\u7b97\u3011\u30a2\u30a4\u30fb\u30b0\u30ea\u30c3\u30c9\u30fb\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u30ba\uff08603A\uff09\u2014\u2014\u5e97\u306e\u5c4b\u6839\u306b\u300c\u81ea\u8ca9\u6a5f\u300d\u3092\u7f6e\u304d\u7d9a\u3051\u308b\u4f1a\u793e\u306e\u521d\u6c7a\u7b97\u306f\u8a08\u753b\u8d85\u3048\u3002\u305f\u3060\u3057\u300cEPS61\u5186\u300d\u300cPER17\u500d\u300d\u306f\u3069\u306e\u682a\u6570\u306e\u8a71\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=241#article\",\"name\":\"\\u30102026\\u5e748\\u6708\\u767a\\u8868\\u30fb2026\\u5e746\\u6708\\u671f\\u901a\\u671f\\u6c7a\\u7b97\\u3011\\u30a2\\u30a4\\u30fb\\u30b0\\u30ea\\u30c3\\u30c9\\u30fb\\u30bd\\u30ea\\u30e5\\u30fc\\u30b7\\u30e7\\u30f3\\u30ba\\uff08603A\\uff09\\u2014\\u2014\\u5e97\\u306e\\u5c4b\\u6839\\u306b\\u300c\\u81ea\\u8ca9\\u6a5f\\u300d\\u3092\\u7f6e\\u304d\\u7d9a\\u3051\\u308b\\u4f1a\\u793e\\u306e\\u521d\\u6c7a\\u7b97\\u306f\\u8a08\\u753b\\u8d85\\u3048\\u3002\\u305f\\u3060\\u3057\\u300cEPS61\\u5186\\u300d\\u300cPER17\\u500d\\u300d\\u306f\\u3069\\u306e\\u682a\\u6570\\u306e\\u8a71\\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\\u5e748\\u6708\\u767a\\u8868\\u30fb2026\\u5e746\\u6708\\u671f\\u901a\\u671f\\u6c7a\\u7b97\\u3011\\u30a2\\u30a4\\u30fb\\u30b0\\u30ea\\u30c3\\u30c9\\u30fb\\u30bd\\u30ea\\u30e5\\u30fc\\u30b7\\u30e7\\u30f3\\u30ba\\uff08603A\\uff09\\u2014\\u2014\\u5e97\\u306e\\u5c4b\\u6839\\u306b\\u300c\\u81ea\\u8ca9\\u6a5f\\u300d\\u3092\\u7f6e\\u304d\\u7d9a\\u3051\\u308b\\u4f1a\\u793e\\u306e\\u521d\\u6c7a\\u7b97\\u306f\\u8a08\\u753b\\u8d85\\u3048\\u3002\\u305f\\u3060\\u3057\\u300cEPS61\\u5186\\u300d\\u300cPER17\\u500d\\u300d\\u306f\\u3069\\u306e\\u682a\\u6570\\u306e\\u8a71\\u304b\\uff1f\",\"author\":{\"@id\":\"https:\\\/\\\/sonokane.net\\\/?author=1#author\"},\"publisher\":{\"@id\":\"https:\\\/\\\/sonokane.net\\\/#organization\"},\"datePublished\":\"2026-09-05T13:08:54+09:00\",\"dateModified\":\"2026-09-06T01:11:03+09:00\",\"inLanguage\":\"ja\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/sonokane.net\\\/?p=241#webpage\"},\"isPartOf\":{\"@id\":\"https:\\\/\\\/sonokane.net\\\/?p=241#webpage\"},\"articleSection\":\"\\u682a\\u5f0f\\u6295\\u8cc7, PPA, \\u592a\\u967d\\u5149, \\u65b0\\u898f\\u4e0a\\u5834, \\u6771\\u8a3c\\u30b0\\u30ed\\u30fc\\u30b9\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/sonokane.net\\\/?p=241#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=241#listItem\",\"name\":\"\\u30102026\\u5e748\\u6708\\u767a\\u8868\\u30fb2026\\u5e746\\u6708\\u671f\\u901a\\u671f\\u6c7a\\u7b97\\u3011\\u30a2\\u30a4\\u30fb\\u30b0\\u30ea\\u30c3\\u30c9\\u30fb\\u30bd\\u30ea\\u30e5\\u30fc\\u30b7\\u30e7\\u30f3\\u30ba\\uff08603A\\uff09\\u2014\\u2014\\u5e97\\u306e\\u5c4b\\u6839\\u306b\\u300c\\u81ea\\u8ca9\\u6a5f\\u300d\\u3092\\u7f6e\\u304d\\u7d9a\\u3051\\u308b\\u4f1a\\u793e\\u306e\\u521d\\u6c7a\\u7b97\\u306f\\u8a08\\u753b\\u8d85\\u3048\\u3002\\u305f\\u3060\\u3057\\u300cEPS61\\u5186\\u300d\\u300cPER17\\u500d\\u300d\\u306f\\u3069\\u306e\\u682a\\u6570\\u306e\\u8a71\\u304b\\uff1f\"},\"previousItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/sonokane.net#listItem\",\"name\":\"\\u30db\\u30fc\\u30e0\"}},{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/sonokane.net\\\/?p=241#listItem\",\"position\":3,\"name\":\"\\u30102026\\u5e748\\u6708\\u767a\\u8868\\u30fb2026\\u5e746\\u6708\\u671f\\u901a\\u671f\\u6c7a\\u7b97\\u3011\\u30a2\\u30a4\\u30fb\\u30b0\\u30ea\\u30c3\\u30c9\\u30fb\\u30bd\\u30ea\\u30e5\\u30fc\\u30b7\\u30e7\\u30f3\\u30ba\\uff08603A\\uff09\\u2014\\u2014\\u5e97\\u306e\\u5c4b\\u6839\\u306b\\u300c\\u81ea\\u8ca9\\u6a5f\\u300d\\u3092\\u7f6e\\u304d\\u7d9a\\u3051\\u308b\\u4f1a\\u793e\\u306e\\u521d\\u6c7a\\u7b97\\u306f\\u8a08\\u753b\\u8d85\\u3048\\u3002\\u305f\\u3060\\u3057\\u300cEPS61\\u5186\\u300d\\u300cPER17\\u500d\\u300d\\u306f\\u3069\\u306e\\u682a\\u6570\\u306e\\u8a71\\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=241#webpage\",\"url\":\"https:\\\/\\\/sonokane.net\\\/?p=241\",\"name\":\"\\u30102026\\u5e748\\u6708\\u767a\\u8868\\u30fb2026\\u5e746\\u6708\\u671f\\u901a\\u671f\\u6c7a\\u7b97\\u3011\\u30a2\\u30a4\\u30fb\\u30b0\\u30ea\\u30c3\\u30c9\\u30fb\\u30bd\\u30ea\\u30e5\\u30fc\\u30b7\\u30e7\\u30f3\\u30ba\\uff08603A\\uff09\\u2014\\u2014\\u5e97\\u306e\\u5c4b\\u6839\\u306b\\u300c\\u81ea\\u8ca9\\u6a5f\\u300d\\u3092\\u7f6e\\u304d\\u7d9a\\u3051\\u308b\\u4f1a\\u793e\\u306e\\u521d\\u6c7a\\u7b97\\u306f\\u8a08\\u753b\\u8d85\\u3048\\u3002\\u305f\\u3060\\u3057\\u300cEPS61\\u5186\\u300d\\u300cPER17\\u500d\\u300d\\u306f\\u3069\\u306e\\u682a\\u6570\\u306e\\u8a71\\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=241#breadcrumblist\"},\"author\":{\"@id\":\"https:\\\/\\\/sonokane.net\\\/?author=1#author\"},\"creator\":{\"@id\":\"https:\\\/\\\/sonokane.net\\\/?author=1#author\"},\"datePublished\":\"2026-09-05T13:08:54+09:00\",\"dateModified\":\"2026-09-06T01:11:03+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\u5e748\u6708\u767a\u8868\u30fb2026\u5e746\u6708\u671f\u901a\u671f\u6c7a\u7b97\u3011\u30a2\u30a4\u30fb\u30b0\u30ea\u30c3\u30c9\u30fb\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u30ba\uff08603A\uff09\u2014\u2014\u5e97\u306e\u5c4b\u6839\u306b\u300c\u81ea\u8ca9\u6a5f\u300d\u3092\u7f6e\u304d\u7d9a\u3051\u308b\u4f1a\u793e\u306e\u521d\u6c7a\u7b97\u306f\u8a08\u753b\u8d85\u3048\u3002\u305f\u3060\u3057\u300cEPS61\u5186\u300d\u300cPER17\u500d\u300d\u306f\u3069\u306e\u682a\u6570\u306e\u8a71\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=241","robots":"max-image-preview:large","keywords":"","webmasterTools":{"miscellaneous":""},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/sonokane.net\/?p=241#article","name":"\u30102026\u5e748\u6708\u767a\u8868\u30fb2026\u5e746\u6708\u671f\u901a\u671f\u6c7a\u7b97\u3011\u30a2\u30a4\u30fb\u30b0\u30ea\u30c3\u30c9\u30fb\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u30ba\uff08603A\uff09\u2014\u2014\u5e97\u306e\u5c4b\u6839\u306b\u300c\u81ea\u8ca9\u6a5f\u300d\u3092\u7f6e\u304d\u7d9a\u3051\u308b\u4f1a\u793e\u306e\u521d\u6c7a\u7b97\u306f\u8a08\u753b\u8d85\u3048\u3002\u305f\u3060\u3057\u300cEPS61\u5186\u300d\u300cPER17\u500d\u300d\u306f\u3069\u306e\u682a\u6570\u306e\u8a71\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\u5e748\u6708\u767a\u8868\u30fb2026\u5e746\u6708\u671f\u901a\u671f\u6c7a\u7b97\u3011\u30a2\u30a4\u30fb\u30b0\u30ea\u30c3\u30c9\u30fb\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u30ba\uff08603A\uff09\u2014\u2014\u5e97\u306e\u5c4b\u6839\u306b\u300c\u81ea\u8ca9\u6a5f\u300d\u3092\u7f6e\u304d\u7d9a\u3051\u308b\u4f1a\u793e\u306e\u521d\u6c7a\u7b97\u306f\u8a08\u753b\u8d85\u3048\u3002\u305f\u3060\u3057\u300cEPS61\u5186\u300d\u300cPER17\u500d\u300d\u306f\u3069\u306e\u682a\u6570\u306e\u8a71\u304b\uff1f","author":{"@id":"https:\/\/sonokane.net\/?author=1#author"},"publisher":{"@id":"https:\/\/sonokane.net\/#organization"},"datePublished":"2026-09-05T13:08:54+09:00","dateModified":"2026-09-06T01:11:03+09:00","inLanguage":"ja","mainEntityOfPage":{"@id":"https:\/\/sonokane.net\/?p=241#webpage"},"isPartOf":{"@id":"https:\/\/sonokane.net\/?p=241#webpage"},"articleSection":"\u682a\u5f0f\u6295\u8cc7, PPA, \u592a\u967d\u5149, \u65b0\u898f\u4e0a\u5834, \u6771\u8a3c\u30b0\u30ed\u30fc\u30b9"},{"@type":"BreadcrumbList","@id":"https:\/\/sonokane.net\/?p=241#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=241#listItem","name":"\u30102026\u5e748\u6708\u767a\u8868\u30fb2026\u5e746\u6708\u671f\u901a\u671f\u6c7a\u7b97\u3011\u30a2\u30a4\u30fb\u30b0\u30ea\u30c3\u30c9\u30fb\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u30ba\uff08603A\uff09\u2014\u2014\u5e97\u306e\u5c4b\u6839\u306b\u300c\u81ea\u8ca9\u6a5f\u300d\u3092\u7f6e\u304d\u7d9a\u3051\u308b\u4f1a\u793e\u306e\u521d\u6c7a\u7b97\u306f\u8a08\u753b\u8d85\u3048\u3002\u305f\u3060\u3057\u300cEPS61\u5186\u300d\u300cPER17\u500d\u300d\u306f\u3069\u306e\u682a\u6570\u306e\u8a71\u304b\uff1f"},"previousItem":{"@type":"ListItem","@id":"https:\/\/sonokane.net#listItem","name":"\u30db\u30fc\u30e0"}},{"@type":"ListItem","@id":"https:\/\/sonokane.net\/?p=241#listItem","position":3,"name":"\u30102026\u5e748\u6708\u767a\u8868\u30fb2026\u5e746\u6708\u671f\u901a\u671f\u6c7a\u7b97\u3011\u30a2\u30a4\u30fb\u30b0\u30ea\u30c3\u30c9\u30fb\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u30ba\uff08603A\uff09\u2014\u2014\u5e97\u306e\u5c4b\u6839\u306b\u300c\u81ea\u8ca9\u6a5f\u300d\u3092\u7f6e\u304d\u7d9a\u3051\u308b\u4f1a\u793e\u306e\u521d\u6c7a\u7b97\u306f\u8a08\u753b\u8d85\u3048\u3002\u305f\u3060\u3057\u300cEPS61\u5186\u300d\u300cPER17\u500d\u300d\u306f\u3069\u306e\u682a\u6570\u306e\u8a71\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=241#webpage","url":"https:\/\/sonokane.net\/?p=241","name":"\u30102026\u5e748\u6708\u767a\u8868\u30fb2026\u5e746\u6708\u671f\u901a\u671f\u6c7a\u7b97\u3011\u30a2\u30a4\u30fb\u30b0\u30ea\u30c3\u30c9\u30fb\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u30ba\uff08603A\uff09\u2014\u2014\u5e97\u306e\u5c4b\u6839\u306b\u300c\u81ea\u8ca9\u6a5f\u300d\u3092\u7f6e\u304d\u7d9a\u3051\u308b\u4f1a\u793e\u306e\u521d\u6c7a\u7b97\u306f\u8a08\u753b\u8d85\u3048\u3002\u305f\u3060\u3057\u300cEPS61\u5186\u300d\u300cPER17\u500d\u300d\u306f\u3069\u306e\u682a\u6570\u306e\u8a71\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=241#breadcrumblist"},"author":{"@id":"https:\/\/sonokane.net\/?author=1#author"},"creator":{"@id":"https:\/\/sonokane.net\/?author=1#author"},"datePublished":"2026-09-05T13:08:54+09:00","dateModified":"2026-09-06T01:11:03+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\u5e748\u6708\u767a\u8868\u30fb2026\u5e746\u6708\u671f\u901a\u671f\u6c7a\u7b97\u3011\u30a2\u30a4\u30fb\u30b0\u30ea\u30c3\u30c9\u30fb\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u30ba\uff08603A\uff09\u2014\u2014\u5e97\u306e\u5c4b\u6839\u306b\u300c\u81ea\u8ca9\u6a5f\u300d\u3092\u7f6e\u304d\u7d9a\u3051\u308b\u4f1a\u793e\u306e\u521d\u6c7a\u7b97\u306f\u8a08\u753b\u8d85\u3048\u3002\u305f\u3060\u3057\u300cEPS61\u5186\u300d\u300cPER17\u500d\u300d\u306f\u3069\u306e\u682a\u6570\u306e\u8a71\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=241","article:published_time":"2026-09-05T04:08:54+00:00","article:modified_time":"2026-09-05T16:11:03+00:00","twitter:card":"summary","twitter:title":"\u30102026\u5e748\u6708\u767a\u8868\u30fb2026\u5e746\u6708\u671f\u901a\u671f\u6c7a\u7b97\u3011\u30a2\u30a4\u30fb\u30b0\u30ea\u30c3\u30c9\u30fb\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u30ba\uff08603A\uff09\u2014\u2014\u5e97\u306e\u5c4b\u6839\u306b\u300c\u81ea\u8ca9\u6a5f\u300d\u3092\u7f6e\u304d\u7d9a\u3051\u308b\u4f1a\u793e\u306e\u521d\u6c7a\u7b97\u306f\u8a08\u753b\u8d85\u3048\u3002\u305f\u3060\u3057\u300cEPS61\u5186\u300d\u300cPER17\u500d\u300d\u306f\u3069\u306e\u682a\u6570\u306e\u8a71\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":"241","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":"2026-09-05 03:53:58","updated":"2026-09-05 16:13:47","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\u5e748\u6708\u767a\u8868\u30fb2026\u5e746\u6708\u671f\u901a\u671f\u6c7a\u7b97\u3011\u30a2\u30a4\u30fb\u30b0\u30ea\u30c3\u30c9\u30fb\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u30ba\uff08603A\uff09\u2014\u2014\u5e97\u306e\u5c4b\u6839\u306b\u300c\u81ea\u8ca9\u6a5f\u300d\u3092\u7f6e\u304d\u7d9a\u3051\u308b\u4f1a\u793e\u306e\u521d\u6c7a\u7b97\u306f\u8a08\u753b\u8d85\u3048\u3002\u305f\u3060\u3057\u300cEPS61\u5186\u300d\u300cPER17\u500d\u300d\u306f\u3069\u306e\u682a\u6570\u306e\u8a71\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\u5e748\u6708\u767a\u8868\u30fb2026\u5e746\u6708\u671f\u901a\u671f\u6c7a\u7b97\u3011\u30a2\u30a4\u30fb\u30b0\u30ea\u30c3\u30c9\u30fb\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u30ba\uff08603A\uff09\u2014\u2014\u5e97\u306e\u5c4b\u6839\u306b\u300c\u81ea\u8ca9\u6a5f\u300d\u3092\u7f6e\u304d\u7d9a\u3051\u308b\u4f1a\u793e\u306e\u521d\u6c7a\u7b97\u306f\u8a08\u753b\u8d85\u3048\u3002\u305f\u3060\u3057\u300cEPS61\u5186\u300d\u300cPER17\u500d\u300d\u306f\u3069\u306e\u682a\u6570\u306e\u8a71\u304b\uff1f","link":"https:\/\/sonokane.net\/?p=241"}],"_links":{"self":[{"href":"https:\/\/sonokane.net\/index.php?rest_route=\/wp\/v2\/posts\/241","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=241"}],"version-history":[{"count":2,"href":"https:\/\/sonokane.net\/index.php?rest_route=\/wp\/v2\/posts\/241\/revisions"}],"predecessor-version":[{"id":243,"href":"https:\/\/sonokane.net\/index.php?rest_route=\/wp\/v2\/posts\/241\/revisions\/243"}],"wp:attachment":[{"href":"https:\/\/sonokane.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sonokane.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sonokane.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}