{"id":10836,"date":"2026-09-22T06:00:00","date_gmt":"2026-09-21T21:00:00","guid":{"rendered":"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l2-corp-lm4\/"},"modified":"2026-09-22T07:44:32","modified_gmt":"2026-09-21T22:44:32","slug":"cfa-l2-corp-lm4","status":"publish","type":"post","link":"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l2-corp-lm4\/","title":{"rendered":"\u3010CFA\u00ae\ufe0e L2 Corporate Finance LM4\u3011Corporate Restructuring \u3092\u8981\u70b9\u89e3\u8aac\uff5c\u6295\u8cc7\u30fb\u58f2\u5374\u30fb\u30ea\u30b9\u30c8\u30e9\u30af\u30c1\u30e3\u30ea\u30f3\u30b0\u30fb\u6bd4\u8f03\u4f1a\u793e\u5206\u6790\u30fb\u30d7\u30ec\u30df\u30a2\u30e0\u5206\u6790\u30fb\u30d7\u30ed\u30d5\u30a9\u30fc\u30de\u8ca1\u52d9\u8af8\u8868"},"content":{"rendered":"<style>\n.cfalm-los{counter-reset:los;list-style:none;padding:0!important;margin:1em 0!important}\n.cfalm-los li{border:1px solid #d5d9e3;border-left:4px solid #172152;border-radius:4px;padding:.8em 1em!important;margin:0 0 .8em!important;background:#fff}\n.cfalm-los li::before{display:none!important;content:none!important}\n.cfalm-los .ja{display:block;font-weight:bold;color:#172152;line-height:1.6}\n.cfalm-los .en{display:block;font-size:.85em;color:#667;margin-top:.3em;line-height:1.5;word-break:normal!important;overflow-wrap:anywhere}\n.cfalm-sum{background:#f6f7fb;border-radius:6px;padding:1em 1.2em!important;margin:1em 0!important;list-style:none!important}\n.cfalm-sum li{position:relative;margin:.4em 0!important;padding:0 0 0 1.1em!important;line-height:1.7;list-style:none!important}.cfalm-sum li::before{content:\"\"!important;display:block!important;position:absolute!important;left:0!important;top:.7em!important;width:6px!important;height:6px!important;border-radius:50%!important;background:#172152!important;border:none!important;transform:none!important}\n.cfalm-f{background:#f6f7fb;border-left:4px solid #172152;padding:.7em 1em;margin:.8em 0;font-family:\"Menlo\",\"Consolas\",monospace;font-size:.95em;overflow-x:auto}\n.cfalm-nav{background:#f6f7fb;padding:1em 1.2em;border-radius:6px;margin:1em 0;word-break:normal;overflow-wrap:anywhere}\n<\/style>\n<div class=\"box05\">\n<p>Learning Module 4\u300cCorporate Restructuring\uff08\u4f01\u696d\u518d\u7de8\uff09\u300d\u306f\u3001\u4f01\u696d\u518d\u7de8\u306e\u7a2e\u985e\u3068\u52d5\u6a5f\u3001\u518d\u7de8\u306e\u521d\u671f\u8a55\u4fa1\u3001\u518d\u7de8\u306b\u95a2\u308f\u308b\u4f01\u696d\u306e\u8a55\u4fa1\u624b\u6cd5\u3001\u518d\u7de8\u304cEPS\u30fb\u30ec\u30d0\u30ec\u30c3\u30b8\u30fbWACC\u306b\u4e0e\u3048\u308b\u5f71\u97ff\u3001\u6295\u8cc7\u30fb\u58f2\u5374\u30fb\u30b3\u30b9\u30c8\u524a\u6e1b\u3068\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u518d\u7de8\u306e\u8a55\u4fa1\u3092\u6271\u3046\u5358\u5143\u3067\u3059\u3002<\/p>\n<p>\u672c\u8a18\u4e8b\u3067\u306f\u3001\u6700\u65b0\u7248\u30ab\u30ea\u30ad\u30e5\u30e9\u30e0\u306eLOS\uff08Learning Outcome Statement\uff09\u3068\u3001\u3053\u306e\u5358\u5143\u306e\u91cd\u8981\u8ad6\u70b9\u3092\u65e5\u672c\u8a9e\u3067\u6574\u7406\u3057\u307e\u3057\u305f\u3002<\/p>\n<\/div>\n<h2>LM4\u306eLOS\uff08\u5b66\u7fd2\u76ee\u6a19\uff09<\/h2>\n<p>LOS\u306f\u3001\u3053\u306e\u5358\u5143\u3067\u300c\u3067\u304d\u308b\u3088\u3046\u306b\u306a\u308b\u3079\u304d\u3053\u3068\u300d\u3068\u3057\u3066\u793a\u3055\u308c\u3066\u3044\u308b\u5b66\u7fd2\u76ee\u6a19\u3067\u3059\u3002LM4\u306b\u306f7\u3064\u306eLOS\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<ol class=\"cfalm-los\">\n<li><span class=\"ja\">LOS 1\uff1a\u4f01\u696d\u518d\u7de8\u306e\u7a2e\u985e\u3068\u3001\u767a\u884c\u4f53\u304c\u518d\u7de8\u3092\u884c\u3046\u52d5\u6a5f\u3092\u8aac\u660e\u3059\u308b<\/span><span class=\"en\">explain types of corporate restructurings and issuers\u2019 motivations for pursuing them<\/span><\/li>\n<li><span class=\"ja\">LOS 2\uff1a\u4f01\u696d\u518d\u7de8\u306e\u521d\u671f\u8a55\u4fa1\u3092\u8aac\u660e\u3059\u308b<\/span><span class=\"en\">explain the initial evaluation of a corporate restructuring<\/span><\/li>\n<li><span class=\"ja\">LOS 3\uff1a\u4f01\u696d\u518d\u7de8\u306b\u95a2\u308f\u308b\u4f01\u696d\u306e\u8a55\u4fa1\u624b\u6cd5\u3092\u793a\u3057\u3001\u305d\u306e\u8a55\u4fa1\u7d50\u679c\u3092\u89e3\u91c8\u3059\u308b<\/span><span class=\"en\">demonstrate valuation methods for, and interpret valuations of, companies involved in corporate restructurings<\/span><\/li>\n<li><span class=\"ja\">LOS 4\uff1a\u4f01\u696d\u518d\u7de8\u304c\u767a\u884c\u4f53\u306eEPS\u3001\u7d14\u6709\u5229\u5b50\u8ca0\u50b5\u5bfeEBITDA\u500d\u7387\u3001\u52a0\u91cd\u5e73\u5747\u8cc7\u672c\u30b3\u30b9\u30c8\uff08WACC\uff09\u306b\u4e0e\u3048\u308b\u5f71\u97ff\u3092\u793a\u3059<\/span><span class=\"en\">demonstrate how corporate restructurings affect an issuer\u2019s EPS, net debt to EBITDA ratio, and weighted average cost of capital<\/span><\/li>\n<li><span class=\"ja\">LOS 5\uff1a\u682a\u5f0f\u6295\u8cc7\u3001\u30b8\u30e7\u30a4\u30f3\u30c8\u30fb\u30d9\u30f3\u30c1\u30e3\u30fc\u3001\u8cb7\u53ce\u3092\u542b\u3080\u4f01\u696d\u306e\u6295\u8cc7\u884c\u52d5\u3092\u8a55\u4fa1\u3059\u308b<\/span><span class=\"en\">evaluate corporate investment actions, including equity investments, joint ventures, and acquisitions<\/span><\/li>\n<li><span class=\"ja\">LOS 6\uff1a\u58f2\u5374\u3084\u30b9\u30d4\u30f3\u30aa\u30d5\u3092\u542b\u3080\u4f01\u696d\u306e\u4e8b\u696d\u7e2e\u5c0f\uff08\u30c0\u30a4\u30d9\u30b9\u30c8\u30e1\u30f3\u30c8\uff09\u884c\u52d5\u3092\u8a55\u4fa1\u3059\u308b<\/span><span class=\"en\">evaluate corporate divestment actions, including sales and spin offs<\/span><\/li>\n<li><span class=\"ja\">LOS 7\uff1a\u30b3\u30b9\u30c8\u306e\u30ea\u30b9\u30c8\u30e9\u30af\u30c1\u30e3\u30ea\u30f3\u30b0\u3068\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u306e\u30ea\u30b9\u30c8\u30e9\u30af\u30c1\u30e3\u30ea\u30f3\u30b0\u3092\u8a55\u4fa1\u3059\u308b<\/span><span class=\"en\">evaluate cost and balance sheet restructurings<\/span><\/li>\n<\/ol>\n<h2>LM4\u306e\u307e\u3068\u3081<\/h2>\n<p>\u3053\u306e\u5358\u5143\u306e\u8981\u70b9\u3092\u307e\u3068\u3081\u308b\u3068\u3001\u6b21\u306e\u3068\u304a\u308a\u3067\u3059\u3002<\/p>\n<ul class=\"cfalm-sum\">\n<li>\u4f01\u696d\u306f\u3001\u30e9\u30a4\u30d5\u30b5\u30a4\u30af\u30eb\u4e0a\u306e\u81ea\u793e\u306e\u884c\u304f\u672b\u3092\u5909\u3048\u308b\u305f\u3081\u306b\u3001\u518d\u7de8\uff08\u30ea\u30b9\u30c8\u30e9\u30af\u30c1\u30e3\u30ea\u30f3\u30b0\uff09\u3068\u547c\u3070\u308c\u308b\u884c\u52d5\u3092\u3068\u308b<\/li>\n<li>\u518d\u7de8\u306b\u306f\u3001\u4e8b\u696d\u306e\u898f\u6a21\u30fb\u7bc4\u56f2\u3092\u62e1\u5927\u3059\u308b\u6295\u8cc7\u884c\u52d5\u3001\u7e2e\u5c0f\u3059\u308b\u4e8b\u696d\u58f2\u5374\u884c\u52d5\u3001\u7bc4\u56f2\u3092\u5909\u3048\u305a\u306b\u696d\u7e3e\u3092\u6539\u5584\u3059\u308b\u518d\u7de8\u884c\u52d5\u304c\u3042\u308b<\/li>\n<li>\u6295\u8cc7\u884c\u52d5\uff08\u682a\u5f0f\u6295\u8cc7\u3001JV\u3001\u8cb7\u53ce\uff09\u306f\u6210\u9577\u3001\u30b7\u30ca\u30b8\u30fc\u3001\u5272\u5b89\u306a\u5bfe\u8c61\u306e\u53d6\u5f97\u3092\u76ee\u7684\u3068\u3059\u308b\u3053\u3068\u304c\u591a\u3044<\/li>\n<li>\u4e8b\u696d\u58f2\u5374\u884c\u52d5\uff08\u58f2\u5374\u3001\u30b9\u30d4\u30f3\u30aa\u30d5\uff09\u306f\u6210\u9577\u6027\u30fb\u53ce\u76ca\u6027\u306e\u5411\u4e0a\u3084\u30ea\u30b9\u30af\u4f4e\u6e1b\u3092\u76ee\u7684\u3068\u3059\u308b<\/li>\n<li>\u518d\u7de8\u306e\u8a55\u4fa1\u306f\u3001\u521d\u671f\u8a55\u4fa1\u3001\u4e88\u5099\u7684\u8a55\u4fa1\u3001\u30e2\u30c7\u30eb\u5316\u3001\u6295\u8cc7\u4eee\u8aac\u306e\u66f4\u65b0\u306e4\u6bb5\u968e\u3067\u884c\u3044\u3001\u5168\u6bb5\u968e\u3092\u884c\u3046\u306e\u306f\u91cd\u8981\u306a\u518d\u7de8\u306b\u9650\u3089\u308c\u308b<\/li>\n<li>\u91cd\u8981\u6027\u306f\u898f\u6a21\u3068\u9069\u5408\u6027\u3067\u5224\u65ad\u3057\u3001\u898f\u6a21\u306e\u76ee\u5b89\u306f\u767a\u884c\u4f53\u306e\u4f01\u696d\u4fa1\u5024\u306e10%\u8d85<\/li>\n<li>\u4e88\u5099\u7684\u8a55\u4fa1\u3067\u306f\u6bd4\u8f03\u4f1a\u793e\u5206\u6790\u3001\u6bd4\u8f03\u53d6\u5f15\u5206\u6790\u3001\u30d7\u30ec\u30df\u30a2\u30e0\u5206\u6790\u306e3\u3064\u306e\u624b\u6cd5\u304c\u4e00\u822c\u7684<\/li>\n<li>\u518d\u7de8\u306e\u5f71\u97ff\u306f\u30d7\u30ed\u30d5\u30a9\u30fc\u30de\u8ca1\u52d9\u8af8\u8868\u3067\u30e2\u30c7\u30eb\u5316\u3057\u3001WACC\u3078\u306e\u5f71\u97ff\u306f\u30dc\u30c8\u30e0\u30a2\u30c3\u30d7\u8981\u56e0\u306e\u5909\u5316\u3092\u901a\u3058\u3066\u751f\u3058\u308b<\/li>\n<\/ul>\n<p>\u4ee5\u4e0b\u3001LOS\u3054\u3068\u306b\u91cd\u8981\u8ad6\u70b9\u3092\u6574\u7406\u3057\u307e\u3059\u3002<\/p>\n<h3>LOS 1\uff1a\u4f01\u696d\u518d\u7de8\u306e\u7a2e\u985e\u3068\u52d5\u6a5f<\/h3>\n<p>\u4f01\u696d\u518d\u7de8\u306f<strong>\u6295\u8cc7\u884c\u52d5<\/strong>\uff08\u682a\u5f0f\u6295\u8cc7\u30fbJV\u30fb\u8cb7\u53ce\uff09\u3001<strong>\u4e8b\u696d\u58f2\u5374\u884c\u52d5<\/strong>\uff08\u58f2\u5374\u30fb\u30b9\u30d4\u30f3\u30aa\u30d5\uff09\u3001<strong>\u518d\u7de8\u884c\u52d5<\/strong>\uff08\u30b3\u30b9\u30c8\u524a\u6e1b\u30fb\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u518d\u7de8\u30fb\u7d44\u7e54\u518d\u7de8\uff09\u306b\u5206\u985e\u3055\u308c\u307e\u3059\u3002\u52d5\u6a5f\u306b\u306f\u6210\u9577\u3001\u30b7\u30ca\u30b8\u30fc\u3001\u5272\u5b89\u8cc7\u7523\u306e\u53d6\u5f97\u3001\u4e8b\u696d\u306e\u96c6\u4e2d\u3001\u30ea\u30b9\u30af\u4f4e\u6e1b\u306a\u3069\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u6295\u8cc7\u884c\u52d5\uff1a\u898f\u6a21\u30fb\u7bc4\u56f2\u306e\u62e1\u5927<\/li>\n<li>\u4e8b\u696d\u58f2\u5374\u884c\u52d5\uff1a\u898f\u6a21\u30fb\u7bc4\u56f2\u306e\u7e2e\u5c0f<\/li>\n<li>\u518d\u7de8\u884c\u52d5\uff1a\u7bc4\u56f2\u3092\u5909\u3048\u305a\u8cc7\u672c\u53ce\u76ca\u7387\u3092\u6539\u5584<\/li>\n<li>\u52d5\u6a5f\uff1a\u6210\u9577\u3001\u30b7\u30ca\u30b8\u30fc\uff08\u58f2\u4e0a\u30fb\u30b3\u30b9\u30c8\uff09\u3001\u5272\u5b89\u306a\u5bfe\u8c61\u3001\u96c6\u4e2d<\/li>\n<li>\u30e9\u30a4\u30d5\u30b5\u30a4\u30af\u30eb\u306e\u6bb5\u968e\u3068\u518d\u7de8\u306e\u95a2\u4fc2<\/li>\n<\/ul>\n<h3>LOS 2\uff1a\u4f01\u696d\u518d\u7de8\u306e\u521d\u671f\u8a55\u4fa1<\/h3>\n<p>\u521d\u671f\u8a55\u4fa1\u3067\u306f\u300c\u4f55\u304c\u8d77\u304d\u3066\u3044\u308b\u304b\u300d\u300c\u3044\u3064\u8d77\u304d\u308b\u304b\u300d\u300c\u91cd\u8981\u304b\u300d\u300c\u306a\u305c\u8d77\u304d\u308b\u304b\u300d\u3092\u78ba\u8a8d\u3057\u307e\u3059\u3002<strong>\u91cd\u8981\u6027<\/strong>\u306f\u898f\u6a21\u3068\u9069\u5408\u6027\u3067\u5224\u65ad\u3057\u3001\u898f\u6a21\u306e\u76ee\u5b89\u306f\u767a\u884c\u4f53\u306e\u4f01\u696d\u4fa1\u5024\u306e<strong>10%\u8d85<\/strong>\u3067\u3059\u3002<\/p>\n<ul>\n<li>4\u3064\u306e\u554f\u3044\uff1aWhat\u30fbWhen\u30fbMaterial\u30fbWhy<\/li>\n<li>\u898f\u6a21\uff1a\u4f01\u696d\u4fa1\u5024\u306e10%\u8d85\u304c\u5927\u898f\u6a21\u306e\u76ee\u5b89<\/li>\n<li>\u9069\u5408\u6027\uff1a\u30a2\u30ca\u30ea\u30b9\u30c8\u306e\u60f3\u5b9a\u3068\u306e\u6574\u5408<\/li>\n<li>\u91cd\u8981\u306a\u518d\u7de8\u306e\u307f\u8a73\u7d30\u8a55\u4fa1\u3078\u9032\u3080<\/li>\n<li>\u8a55\u4fa1\u306e4\u6bb5\u968e\uff1a\u521d\u671f\u8a55\u4fa1\u2192\u4e88\u5099\u7684\u8a55\u4fa1\u2192\u30e2\u30c7\u30eb\u5316\u2192\u6295\u8cc7\u4eee\u8aac\u306e\u66f4\u65b0<\/li>\n<\/ul>\n<h3>LOS 3\uff1a\u518d\u7de8\u306b\u95a2\u308f\u308b\u4f01\u696d\u306e\u8a55\u4fa1\u624b\u6cd5<\/h3>\n<p>\u4e88\u5099\u7684\u8a55\u4fa1\u3067\u306f\u3001\u985e\u4f3c\u4e0a\u5834\u4f01\u696d\u306e\u500d\u7387\u3092\u4f7f\u3046<strong>\u6bd4\u8f03\u4f1a\u793e\u5206\u6790<\/strong>\u3001\u904e\u53bb\u306e\u985e\u4f3c\u53d6\u5f15\u306e\u500d\u7387\u3092\u4f7f\u3046<strong>\u6bd4\u8f03\u53d6\u5f15\u5206\u6790<\/strong>\u3001\u904e\u53bb\u306e\u8cb7\u53ce\u3067\u652f\u6255\u308f\u308c\u305f\u30d7\u30ec\u30df\u30a2\u30e0\u3092\u4f7f\u3046<strong>\u30d7\u30ec\u30df\u30a2\u30e0\u5206\u6790<\/strong>\u3092\u7528\u3044\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u6bd4\u8f03\u4f1a\u793e\u5206\u6790\uff1a\u540c\u696d\u4e0a\u5834\u4f01\u696d\u306eEV\/EBITDA\u3001P\/E\u306a\u3069<\/li>\n<li>\u6bd4\u8f03\u53d6\u5f15\u5206\u6790\uff1a\u985e\u4f3cM&#038;A\u306e\u53d6\u5f15\u500d\u7387\uff08\u652f\u914d\u6a29\u30d7\u30ec\u30df\u30a2\u30e0\u3092\u542b\u3080\uff09<\/li>\n<li>\u30d7\u30ec\u30df\u30a2\u30e0\u5206\u6790\uff1a\u8cb7\u53ce\u524d\u306e\u682a\u4fa1\u306b\u5bfe\u3059\u308b\u30d7\u30ec\u30df\u30a2\u30e0<\/li>\n<li>\u5404\u624b\u6cd5\u306e\u9577\u6240\u3068\u77ed\u6240\uff08\u6bd4\u8f03\u5bfe\u8c61\u306e\u9078\u5b9a\u3001\u5e02\u5834\u74b0\u5883\u306e\u9055\u3044\uff09<\/li>\n<li>\u8a55\u4fa1\u30ec\u30f3\u30b8\u304b\u3089\u516c\u6b63\u4fa1\u5024\u3092\u63a8\u5b9a<\/li>\n<\/ul>\n<div class=\"cfalm-f\">\u652f\u6255\u30d7\u30ec\u30df\u30a2\u30e0 \uff1d\uff081\u682a\u5f53\u305f\u308a\u8cb7\u53ce\u4fa1\u683c \u2212 \u8cb7\u53ce\u516c\u8868\u524d\u306e\u682a\u4fa1\uff09\u00f7 \u8cb7\u53ce\u516c\u8868\u524d\u306e\u682a\u4fa1<\/div>\n<h3>LOS 4\uff1a\u518d\u7de8\u304cEPS\u30fb\u30ec\u30d0\u30ec\u30c3\u30b8\u30fbWACC\u306b\u4e0e\u3048\u308b\u5f71\u97ff<\/h3>\n<p>\u518d\u7de8\u306e\u5f71\u97ff\u306f<strong>\u30d7\u30ed\u30d5\u30a9\u30fc\u30de\u8ca1\u52d9\u8af8\u8868<\/strong>\u3067\u63a8\u5b9a\u3057\u307e\u3059\u3002\u8cb7\u53ce\u306e\u8cc7\u91d1\u8abf\u9054\u624b\u6bb5\uff08\u73fe\u91d1\u30fb\u501f\u5165\u30fb\u682a\u5f0f\uff09\u306b\u3088\u3063\u3066EPS\u3001\u7d14\u6709\u5229\u5b50\u8ca0\u50b5\uff0fEBITDA\u3001WACC\u3078\u306e\u5f71\u97ff\u304c\u7570\u306a\u308a\u307e\u3059\u3002<\/p>\n<ul>\n<li>EPS\u306e\u5897\u52a0\uff08\u30a2\u30af\u30ea\u30fc\u30c6\u30a3\u30d6\uff09\u3068\u6e1b\u5c11\uff08\u30c0\u30a4\u30ea\u30e5\u30fc\u30c6\u30a3\u30d6\uff09<\/li>\n<li>\u501f\u5165\u306b\u3088\u308b\u8cb7\u53ce\uff1a\u30ec\u30d0\u30ec\u30c3\u30b8\u4e0a\u6607<\/li>\n<li>\u682a\u5f0f\u306b\u3088\u308b\u8cb7\u53ce\uff1a\u682a\u5f0f\u6570\u306e\u5897\u52a0<\/li>\n<li>WACC\u306f\u30dc\u30c8\u30e0\u30a2\u30c3\u30d7\u8981\u56e0\uff08\u5b89\u5b9a\u6027\u30fb\u53ce\u76ca\u6027\u30fb\u30ec\u30d0\u30ec\u30c3\u30b8\u30fb\u8cc7\u7523\u306e\u7279\u6b8a\u6027\uff09\u306e\u5909\u5316\u3067\u5909\u52d5<\/li>\n<li>\u8cc7\u672c\u69cb\u6210\u306e\u91cd\u307f\u306e\u5909\u5316<\/li>\n<\/ul>\n<div class=\"cfalm-f\">\u7d14\u6709\u5229\u5b50\u8ca0\u50b5\uff0fEBITDA \uff1d\uff08\u6709\u5229\u5b50\u8ca0\u50b5 \u2212 \u73fe\u91d1\uff09\u00f7 EBITDA<\/div>\n<h3>LOS 5\uff1a\u6295\u8cc7\u884c\u52d5\uff08\u682a\u5f0f\u6295\u8cc7\u30fbJV\u30fb\u8cb7\u53ce\uff09\u306e\u8a55\u4fa1<\/h3>\n<p>\u6295\u8cc7\u884c\u52d5\u306f\u3001\u652f\u6255\u3046\u5bfe\u4fa1\u306b\u898b\u5408\u3046\u4fa1\u5024\uff08\u30b7\u30ca\u30b8\u30fc\u3092\u542b\u3080\uff09\u3092\u751f\u3080\u304b\u3067\u8a55\u4fa1\u3057\u307e\u3059\u3002<strong>\u682a\u5f0f\u6295\u8cc7<\/strong>\u3084<strong>JV<\/strong>\u306f\u5c0f\u3055\u306a\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8\u3067\u9078\u629e\u80a2\u3092\u5f97\u3089\u308c\u3001<strong>\u8cb7\u53ce<\/strong>\u306f\u652f\u914d\u6a29\u3092\u5f97\u308b\u4e00\u65b9\u3067\u30d7\u30ec\u30df\u30a2\u30e0\u3068\u7d71\u5408\u30ea\u30b9\u30af\u3092\u4f34\u3044\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u682a\u5f0f\u6295\u8cc7\uff1a\u5c11\u6570\u6301\u5206\u3001\u5c06\u6765\u306e\u8cb7\u53ce\u30aa\u30d7\u30b7\u30e7\u30f3<\/li>\n<li>JV\uff1a\u5171\u540c\u652f\u914d\u3001\u30ea\u30b9\u30af\u30fb\u8cbb\u7528\u306e\u5206\u62c5<\/li>\n<li>\u8cb7\u53ce\uff1a\u652f\u914d\u6a29\u306e\u53d6\u5f97\u3001\u30d7\u30ec\u30df\u30a2\u30e0\u306e\u652f\u6255\u3044<\/li>\n<li>\u30b7\u30ca\u30b8\u30fc\uff08\u58f2\u4e0a\u30fb\u30b3\u30b9\u30c8\uff09\u306e\u5b9f\u73fe\u53ef\u80fd\u6027<\/li>\n<li>\u8cb7\u53ce\u4fa1\u683c\u3068\u4fa1\u5024\u306e\u6bd4\u8f03\u3001\u7d71\u5408\u30ea\u30b9\u30af<\/li>\n<\/ul>\n<h3>LOS 6\uff1a\u4e8b\u696d\u58f2\u5374\u884c\u52d5\uff08\u58f2\u5374\u30fb\u30b9\u30d4\u30f3\u30aa\u30d5\uff09\u306e\u8a55\u4fa1<\/h3>\n<p><strong>\u58f2\u5374<\/strong>\u306f\u73fe\u91d1\u3092\u5f97\u3066\u4e8b\u696d\u3092\u624b\u653e\u3057\u3001<strong>\u30b9\u30d4\u30f3\u30aa\u30d5<\/strong>\u306f\u5b50\u4f1a\u793e\u682a\u5f0f\u3092\u65e2\u5b58\u682a\u4e3b\u306b\u5206\u914d\u3057\u3066\u72ec\u7acb\u3055\u305b\u307e\u3059\u3002\u30b3\u30f3\u30b0\u30ed\u30de\u30ea\u30c3\u30c8\u30fb\u30c7\u30a3\u30b9\u30ab\u30a6\u30f3\u30c8\u306e\u89e3\u6d88\u3001\u7d4c\u55b6\u8cc7\u6e90\u306e\u96c6\u4e2d\u3001\u30ea\u30b9\u30af\u4f4e\u6e1b\u306a\u3069\u304c\u76ee\u7684\u3067\u3059\u3002<\/p>\n<ul>\n<li>\u58f2\u5374\uff1a\u5bfe\u4fa1\u3092\u53d7\u3051\u53d6\u308a\u3001\u7a0e\u8ca0\u62c5\u304c\u751f\u3058\u5f97\u308b<\/li>\n<li>\u30b9\u30d4\u30f3\u30aa\u30d5\uff1a\u682a\u4e3b\u306b\u682a\u5f0f\u3092\u5206\u914d\u3001\u73fe\u91d1\u306f\u751f\u3058\u306a\u3044<\/li>\n<li>\u90e8\u5206\u306e\u5408\u8a08\uff08SOTP\uff09\u3067\u4fa1\u5024\u3092\u6bd4\u8f03<\/li>\n<li>\u30c7\u30a3\u30b9\u30fb\u30b7\u30ca\u30b8\u30fc\u3084\u72ec\u7acb\u30b3\u30b9\u30c8\u306e\u8003\u616e<\/li>\n<li>\u58f2\u5374\u4ee3\u91d1\u306e\u4f7f\u9014\uff08\u8ca0\u50b5\u8fd4\u6e08\u30fb\u682a\u4e3b\u9084\u5143\u306a\u3069\uff09<\/li>\n<\/ul>\n<h3>LOS 7\uff1a\u30b3\u30b9\u30c8\u3068\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u306e\u30ea\u30b9\u30c8\u30e9\u30af\u30c1\u30e3\u30ea\u30f3\u30b0\u306e\u8a55\u4fa1<\/h3>\n<p><strong>\u30b3\u30b9\u30c8\u30fb\u30ea\u30b9\u30c8\u30e9\u30af\u30c1\u30e3\u30ea\u30f3\u30b0<\/strong>\u306f\u540c\u696d\u4ed6\u793e\u4e26\u307f\u306e\u5229\u76ca\u7387\u3078\u306e\u56de\u5fa9\u3092\u76ee\u6307\u3057\u3001<strong>\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u30fb\u30ea\u30b9\u30c8\u30e9\u30af\u30c1\u30e3\u30ea\u30f3\u30b0<\/strong>\u306f\u8cc7\u672c\u69cb\u6210\u3084\u8cc7\u7523\u4fdd\u6709\u306e\u898b\u76f4\u3057\uff08\u30bb\u30fc\u30eb\u30fb\u30a2\u30f3\u30c9\u30fb\u30ea\u30fc\u30b9\u30d0\u30c3\u30af\u3001\u914d\u5f53\u30fb\u81ea\u793e\u682a\u8cb7\u3044\u3001\u30ec\u30d0\u30ec\u30c3\u30b8\u5909\u66f4\uff09\u3092\u884c\u3044\u307e\u3059\u3002<\/p>\n<ul>\n<li>\u30b3\u30b9\u30c8\u524a\u6e1b\uff1a\u4eba\u54e1\u524a\u6e1b\u3001\u62e0\u70b9\u7d71\u5408\u3001\u5916\u90e8\u59d4\u8a17<\/li>\n<li>\u30ea\u30b9\u30c8\u30e9\u30af\u30c1\u30e3\u30ea\u30f3\u30b0\u8cbb\u7528\u3068\u5c06\u6765\u306e\u7bc0\u7d04\u984d\u306e\u6bd4\u8f03<\/li>\n<li>\u30bb\u30fc\u30eb\u30fb\u30a2\u30f3\u30c9\u30fb\u30ea\u30fc\u30b9\u30d0\u30c3\u30af<\/li>\n<li>\u8cc7\u672c\u69cb\u6210\u306e\u5909\u66f4\u306b\u3088\u308bWACC\u30fb\u682a\u4e3b\u9084\u5143\u3078\u306e\u5f71\u97ff<\/li>\n<li>\u7d44\u7e54\u518d\u7de8\u30fb\u5012\u7523\u624b\u7d9a\u306b\u3088\u308b\u518d\u5efa<\/li>\n<\/ul>\n<h2>\u52b9\u7387\u3088\u304f\u5b66\u3076\u306b\u306f FA-Academy<\/h2>\n<p>CFA\u00ae\ufe0e\u306e\u5354\u4f1a\u30c6\u30ad\u30b9\u30c8\u306f\u82f1\u8a9e\u3067\u5206\u91cf\u3082\u591a\u304f\u30011\u3064\u3072\u3068\u3064\u306e\u5358\u5143\u3092\u82f1\u8a9e\u3060\u3051\u3067\u7406\u89e3\u3057\u3066\u3044\u304f\u306e\u306f\u5927\u304d\u306a\u8ca0\u62c5\u3067\u3059\u3002<\/p>\n<p>FA-Academy\uff08Financial Analyst Academy\uff09\u306f\u3001<strong>\u65e5\u672c\u8a9e\u3067\u5b66\u3079\u308b\u6570\u5c11\u306a\u3044CFA\u00ae\ufe0e\u8a66\u9a13\u30b5\u30dd\u30fc\u30c8<\/strong>\u3067\u3059\u3002\u3053\u308c\u307e\u3067 Level 1 \u304b\u3089 Level 3 \u307e\u3067\u591a\u304f\u306e\u5408\u683c\u8005\u3092\u8f29\u51fa\u3057\u3066\u304a\u308a\u3001\u5408\u683c\u8005\u306e\u65b9\u3005\u3068\u306e\u5bfe\u8ac7\u3082\u6570\u591a\u304f\u516c\u958b\u3057\u3066\u3044\u307e\u3059\u3002\u3069\u3093\u306a\u65b9\u304c\u3001\u3069\u306e\u3088\u3046\u306b\u5408\u683c\u3055\u308c\u305f\u306e\u304b\u306f<a href=\"https:\/\/triumphmind.com\/cfa\/category\/gokaku\/\" target=\"_blank\" rel=\"noopener\">\u5408\u683c\u8005\u5bfe\u8ac7\u30fb\u5408\u683c\u4f53\u9a13\u8ac7\u306e\u4e00\u89a7<\/a>\u304b\u3089\u3054\u89a7\u3044\u305f\u3060\u3051\u307e\u3059\u3002<\/p>\n<ul>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/level2movie\/\" target=\"_blank\" rel=\"noopener\">Level 2 \u65e5\u672c\u8a9e\u8981\u70b9\u96c6\u306e\u7121\u6599\u30b5\u30f3\u30d7\u30eb\u3092\u53d7\u3051\u53d6\u308b\uff087\u65e5\u9593\u30e1\u30fc\u30eb\u8b1b\u5ea7\uff09<\/a><\/li>\n<li><a href=\"https:\/\/timerex.net\/s\/cfa.tips.slack_2a23\/e72e883e\/\" target=\"_blank\" rel=\"noopener\">\u7121\u6599\u500b\u5225\u9762\u8ac7\u3092\u4e88\u7d04\u3059\u308b\uff08\u5b66\u7fd2\u8a08\u753b\u306e\u3054\u76f8\u8ac7\uff09<\/a><\/li>\n<li><a href=\"https:\/\/triumphmind.com\/cfa\/course\/\" target=\"_blank\" rel=\"noopener\">\u53d7\u8b1b\u6848\u5185\uff08\u30b3\u30fc\u30b9\u4e00\u89a7\u30fb\u53d7\u8b1b\u6599\uff09\u3092\u898b\u308b<\/a><\/li>\n<\/ul>\n<div class=\"cfalm-nav\">\u524d\u306e\u5358\u5143\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/2026\/09\/22\/cfa-l2-corp-lm3\/\">LM3 Cost of Capital: Advanced Topics\uff08\u8cc7\u672c\u30b3\u30b9\u30c8\uff1a\u767a\u5c55\u7684\u30c8\u30d4\u30c3\u30af\uff09<\/a><br \/>\n\u5168\u4f53\u306e\u76ee\u6b21\uff1a<a href=\"https:\/\/triumphmind.com\/cfa\/cfa-curriculum\/#l2-corp\">CFA\u00ae\ufe0e \u5b66\u7fd2\u5185\u5bb9\u306e\u76ee\u6b21\uff08Level 2 Corporate Finance\uff09<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>CFA\u00ae\ufe0e Level 2 Corporate Finance LM4\u300cCorporate Restructuring\uff08\u4f01\u696d\u518d\u7de8\uff09\u300d\u306eLOS\uff08\u5b66\u7fd2\u76ee\u6a19\uff09\u3068\u91cd\u8981\u8ad6\u70b9\u3092\u3001\u6700\u65b0\u7248\u30ab\u30ea\u30ad\u30e5\u30e9\u30e0\u306b\u57fa\u3065\u3044\u3066\u65e5\u672c\u8a9e\u3067\u6574\u7406\u3057\u307e\u3057\u305f\u3002<\/p>\n","protected":false},"author":1,"featured_media":11182,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jin_ogp_image_url":"","_jin_last_featured_id":0,"footnotes":""},"categories":[99],"tags":[],"class_list":["post-10836","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-level2-topics"],"_links":{"self":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10836","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/comments?post=10836"}],"version-history":[{"count":2,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10836\/revisions"}],"predecessor-version":[{"id":11350,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/posts\/10836\/revisions\/11350"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/media\/11182"}],"wp:attachment":[{"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/media?parent=10836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/categories?post=10836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/triumphmind.com\/cfa\/wp-json\/wp\/v2\/tags?post=10836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}