{"id":10818,"date":"2026-09-20T00:01:35","date_gmt":"2026-09-19T15:01:35","guid":{"rendered":"https:\/\/triumphmind.com\/cma\/2026\/09\/20\/g2-cf-11\/"},"modified":"2026-09-20T00:19:06","modified_gmt":"2026-09-19T15:19:06","slug":"g2-cf-11","status":"publish","type":"post","link":"https:\/\/triumphmind.com\/cma\/2026\/09\/20\/g2-cf-11\/","title":{"rendered":"\u8ca0\u50b5\u30b3\u30b9\u30c8\u3068\u306f\uff1f\u610f\u5473\u3068\u8a66\u9a13\u3067\u554f\u308f\u308c\u308b\u30dd\u30a4\u30f3\u30c8\uff5c\u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c82\u6b21\u30fb\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30fb\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9"},"content":{"rendered":"<style>.cma-tbl{margin:1.2em 0 1.6em;overflow-x:auto;-webkit-overflow-scrolling:touch;border-radius:8px;box-shadow:0 1px 4px rgba(34,0,94,.12);}.cma-tbl table{width:100%;border-collapse:collapse!important;margin:0!important;font-size:15px;line-height:1.6;background:#fff;border:none!important;}.cma-tbl th,.cma-tbl td{padding:10px 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class=\"cma-answer-title\">\u3072\u3068\u3053\u3068\u3067\u8a00\u3046\u3068<\/p>\n<ul>\n<li><strong>\u8ca0\u50b5\u30b3\u30b9\u30c8<\/strong>\u3068\u306f\u3001\u4f01\u696d\u304c\u4eca\u65b0\u305f\u306b\u304a\u91d1\u3092\u501f\u308a\u308b\u3068\u3057\u305f\u3089\u6c42\u3081\u3089\u308c\u308b\u5229\u56de\u308a\u3067\u3001\u5e33\u7c3f\u4e0a\u306e\u904e\u53bb\u306e\u91d1\u5229\uff08\u30af\u30fc\u30dd\u30f3\uff09\u3067\u306f\u306a\u304f<strong>\u73fe\u5728\u306e\u5e02\u5834\u306e\u5229\u56de\u308a<\/strong>\u3067\u6e2c\u308a\u307e\u3059\u3002<\/li>\n<li>\u6c42\u3081\u65b9\u306f\u3001<strong>\u65e2\u767a\u793e\u50b5\u306e\u6700\u7d42\u5229\u56de\u308a<\/strong>\u3092\u4f7f\u3046\u65b9\u6cd5\u3001<strong>\u56fd\u50b5\u5229\u56de\u308a\uff0b\u683c\u4ed8\u3051\u306b\u5fdc\u3058\u305f\u30b9\u30d7\u30ec\u30c3\u30c9<\/strong>\u3067\u63a8\u5b9a\u3059\u308b\u65b9\u6cd5\u306a\u3069\u304c\u3042\u308a\u307e\u3059\u3002<\/li>\n<li>\u652f\u6255\u5229\u606f\u306f\u640d\u91d1\u306b\u306a\u308b\u305f\u3081\u3001WACC\u3067\u306f<strong>\u7a0e\u5f15\u5f8c\u306e\u8ca0\u50b5\u30b3\u30b9\u30c8 r<sub>D<\/sub>\u00d7(1\u2212t)<\/strong>\u3092\u4f7f\u3044\u307e\u3059\u3002<\/li>\n<\/ul>\n<\/div>\n<p>\u3053\u306e\u8a18\u4e8b\u3067\u306f\u3001\u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c82\u6b21\u300c\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30fb\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u300d\u306e\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8\u306e\u3072\u3068\u3064\u300c\u8ca0\u50b5\u30b3\u30b9\u30c8\u306e\u8a08\u7b97\u65b9\u6cd5\u300d\u306b\u3064\u3044\u3066\u3001\u610f\u5473\u3068\u8a66\u9a13\u3067\u554f\u308f\u308c\u3084\u3059\u3044\u30dd\u30a4\u30f3\u30c8\u3092\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n<div class=\"cma-tbl kv\">\n<table>\n<tbody>\n<tr>\n<th>\u5206\u91ce<\/th>\n<td>2\u6b21 \u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30fb\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u3068\u4f01\u696d\u5206\u6790\uff0f\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30fb\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9<\/td>\n<\/tr>\n<tr>\n<th>\u5927\u5206\u985e<\/th>\n<td>(5) \u8cc7\u672c\u30b3\u30b9\u30c8\u3068\u8cc7\u672c\u69cb\u6210<\/td>\n<\/tr>\n<tr>\n<th>\u5354\u4f1a\u306e\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8<\/th>\n<td>\u8ca0\u50b5\u30b3\u30b9\u30c8\u306e\u8a08\u7b97\u65b9\u6cd5\u306b\u3064\u3044\u3066\u7406\u89e3\u3059\u308b\u3002<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h2>\u8ca0\u50b5\u30b3\u30b9\u30c8\u3068\u306f<\/h2>\n<p>\u8ca0\u50b5\u30b3\u30b9\u30c8\u306f\u3001\u50b5\u6a29\u8005\uff08\u793e\u50b5\u306e\u6295\u8cc7\u5bb6\u3084\u9280\u884c\uff09\u304c\u4f01\u696d\u306b\u8cc7\u91d1\u3092\u8cb8\u3059\u3068\u304d\u306b\u6c42\u3081\u308b\u30ea\u30bf\u30fc\u30f3\u3067\u3059\u3002\u8cc7\u672c\u30b3\u30b9\u30c8\u306f\u5c06\u6765\u306e\u6295\u8cc7\u5224\u65ad\u306b\u4f7f\u3046\u300c\u6a5f\u4f1a\u8cbb\u7528\u300d\u306a\u306e\u3067\u3001\u4f55\u5e74\u3082\u524d\u306b\u767a\u884c\u3057\u305f\u793e\u50b5\u306e\u30af\u30fc\u30dd\u30f3\u3084\u3001\u652f\u6255\u5229\u606f\u00f7\u6709\u5229\u5b50\u8ca0\u50b5\u3067\u6c42\u3081\u305f\u5e73\u5747\u7684\u306a\u91d1\u5229\u3067\u306f\u306a\u304f\u3001<strong>\u4eca\u306e\u5e02\u5834\u74b0\u5883\u3068\u4fe1\u7528\u529b\u3067\u501f\u308a\u305f\u5834\u5408\u306e\u5229\u56de\u308a<\/strong>\u3092\u4f7f\u3046\u306e\u304c\u539f\u5247\u3067\u3059\u3002<\/p>\n<h3>\u4e3b\u306a\u8a08\u7b97\u65b9\u6cd5<\/h3>\n<p>\u7b2c\u4e00\u306f\u3001\u305d\u306e\u4f01\u696d\u304c\u767a\u884c\u3057\u3066\u3044\u308b<strong>\u793e\u50b5\u306e\u6700\u7d42\u5229\u56de\u308a\uff08YTM\uff09<\/strong>\u3092\u4f7f\u3046\u65b9\u6cd5\u3067\u3059\u3002\u5e02\u5834\u3067\u6d3b\u767a\u306b\u53d6\u5f15\u3055\u308c\u3066\u3044\u308b\u9577\u671f\u306e\u793e\u50b5\u304c\u3042\u308c\u3070\u3001\u73fe\u5728\u306e\u5e02\u5834\u4fa1\u683c\u304b\u3089\u8a08\u7b97\u3057\u305fYTM\u304c\u3001\u6295\u8cc7\u5bb6\u306e\u8981\u6c42\u5229\u56de\u308a\u306e\u76ee\u5b89\u306b\u306a\u308a\u307e\u3059\u3002\u7b2c\u4e8c\u306f\u3001\u793e\u50b5\u306e\u6d41\u52d5\u6027\u304c\u4f4e\u3044\u5834\u5408\u306a\u3069\u306b\u3001<strong>\u56fd\u50b5\u5229\u56de\u308a\uff08\u30ea\u30b9\u30af\u30d5\u30ea\u30fc\u30fb\u30ec\u30fc\u30c8\uff09\u306b\u3001\u683c\u4ed8\u3051\u306b\u5fdc\u3058\u305f\u4fe1\u7528\u30b9\u30d7\u30ec\u30c3\u30c9\u3092\u4e0a\u4e57\u305b<\/strong>\u3059\u308b\u65b9\u6cd5\u3067\u3059\u3002\u683c\u4ed8\u3051\u304c\u306a\u3044\u4f01\u696d\u306f\u3001\u30a4\u30f3\u30bf\u30ec\u30b9\u30c8\u30fb\u30ab\u30d0\u30ec\u30c3\u30b8\u30fb\u30ec\u30b7\u30aa\u306a\u3069\u306e\u8ca1\u52d9\u6307\u6a19\u304b\u3089\u683c\u4ed8\u3051\u3092\u63a8\u5b9a\u3057\uff08\u5408\u6210\u683c\u4ed8\u3051\uff09\u3001\u305d\u308c\u306b\u5bfe\u5fdc\u3059\u308b\u30b9\u30d7\u30ec\u30c3\u30c9\u3092\u4f7f\u3046\u3053\u3068\u3082\u3042\u308a\u307e\u3059\u3002\u9280\u884c\u501f\u5165\u304c\u4e2d\u5fc3\u306e\u4f01\u696d\u3067\u306f\u3001\u65b0\u898f\u501f\u5165\u306e\u91d1\u5229\u6c34\u6e96\u3082\u53c2\u8003\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<h3>\u7bc0\u7a0e\u52b9\u679c\u3068\u7a0e\u5f15\u5f8c\u8ca0\u50b5\u30b3\u30b9\u30c8<\/h3>\n<p>\u652f\u6255\u5229\u606f\u306f\u7a0e\u52d9\u4e0a\u306e\u640d\u91d1\u306b\u306a\u308b\u305f\u3081\u3001\u5229\u606f\u3092\u6255\u3046\u3068\u305d\u306e\u5206\u3060\u3051\u6cd5\u4eba\u7a0e\u304c\u6e1b\u308a\u307e\u3059\u3002\u3053\u306e<strong>\u7bc0\u7a0e\u52b9\u679c<\/strong>\u3092\u53cd\u6620\u3059\u308b\u305f\u3081\u3001WACC\u306e\u8a08\u7b97\u3067\u306f\u7a0e\u5f15\u524d\u306e\u8ca0\u50b5\u30b3\u30b9\u30c8\u306b(1\u2212\u7a0e\u7387)\u3092\u304b\u3051\u305f\u7a0e\u5f15\u5f8c\u306e\u8ca0\u50b5\u30b3\u30b9\u30c8\u3092\u4f7f\u3044\u307e\u3059\u3002\u305f\u3060\u3057\u3001\u8d64\u5b57\u304c\u7d9a\u3044\u3066\u7a0e\u91d1\u3092\u6255\u3063\u3066\u3044\u306a\u3044\u4f01\u696d\u3067\u306f\u3001\u7bc0\u7a0e\u52b9\u679c\u3092\u3059\u3050\u306b\u306f\u53d7\u3051\u3089\u308c\u306a\u3044\u305f\u3081\u3001\u5358\u7d14\u306b(1\u2212t)\u3092\u304b\u3051\u308b\u3068\u8ca0\u50b5\u30b3\u30b9\u30c8\u3092\u904e\u5c0f\u8a55\u4fa1\u3059\u308b\u70b9\u306b\u6ce8\u610f\u304c\u5fc5\u8981\u3067\u3059\u3002<\/p>\n<h3>YTM\u3092\u4f7f\u3046\u3068\u304d\u306e\u6ce8\u610f\u70b9<\/h3>\n<p>YTM\u306f\u3001\u7d04\u675f\u3069\u304a\u308a\u5143\u5229\u91d1\u304c\u652f\u6255\u308f\u308c\u305f\u5834\u5408\u306e\u5229\u56de\u308a\uff08\u7d04\u675f\u5229\u56de\u308a\uff09\u3067\u3059\u3002\u4fe1\u7528\u529b\u306e\u4f4e\u3044\u4f01\u696d\u3067\u306f\u3001\u30c7\u30d5\u30a9\u30eb\u30c8\u306e\u53ef\u80fd\u6027\u3092\u8003\u3048\u308b\u3068\u3001\u6295\u8cc7\u5bb6\u304c\u5b9f\u969b\u306b\u671f\u5f85\u3059\u308b\u30ea\u30bf\u30fc\u30f3\u306fYTM\u3088\u308a\u4f4e\u304f\u306a\u308a\u307e\u3059\u3002\u305d\u306e\u305f\u3081\u3001\u683c\u4ed8\u3051\u306e\u4f4e\u3044\u4f01\u696d\u3067\u306fYTM\u3092\u305d\u306e\u307e\u307e\u8ca0\u50b5\u30b3\u30b9\u30c8\u3068\u3059\u308b\u3068<strong>\u904e\u5927\u8a55\u4fa1<\/strong>\u306b\u306a\u308a\u3084\u3059\u3044\u3053\u3068\u3082\u62bc\u3055\u3048\u3066\u304a\u304d\u307e\u3057\u3087\u3046\u3002<\/p>\n<h2>\u62bc\u3055\u3048\u3066\u304a\u304d\u305f\u3044\u516c\u5f0f<\/h2>\n<div class=\"cma-formula\">P \uff1d \u03a3 C \u00f7 (1 \uff0b r<sub>D<\/sub>)<sup>t<\/sup> \uff0b F \u00f7 (1 \uff0b r<sub>D<\/sub>)<sup>n<\/sup><small>\u793e\u50b5\u4fa1\u683cP\u3092\u6e80\u305f\u3059r<sub>D<\/sub>\u304c\u6700\u7d42\u5229\u56de\u308a\uff08YTM\uff09<\/small><\/div>\n<div class=\"cma-formula\">r<sub>D<\/sub> \uff1d r<sub>f<\/sub> \uff0b \u4fe1\u7528\u30b9\u30d7\u30ec\u30c3\u30c9<small>\u683c\u4ed8\u3051\u306b\u5fdc\u3058\u305f\u30b9\u30d7\u30ec\u30c3\u30c9\u3092\u4e0a\u4e57\u305b\u3059\u308b\u65b9\u6cd5<\/small><\/div>\n<div class=\"cma-formula\">\u7a0e\u5f15\u5f8c\u8ca0\u50b5\u30b3\u30b9\u30c8 \uff1d r<sub>D<\/sub> \u00d7 (1 \u2212 t)<small>WACC\u306b\u7528\u3044\u308b\u8ca0\u50b5\u30b3\u30b9\u30c8<\/small><\/div>\n<div class=\"cma-tbl two\">\n<table>\n<thead>\n<tr>\n<th>\u8a18\u53f7<\/th>\n<th>\u610f\u5473<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td>r<sub>D<\/sub><\/td>\n<td>\u7a0e\u5f15\u524d\u306e\u8ca0\u50b5\u30b3\u30b9\u30c8<\/td>\n<\/tr>\n<tr>\n<td>P\u30fbC\u30fbF<\/td>\n<td>\u793e\u50b5\u4fa1\u683c\u30fb\u6bce\u5e74\u306e\u30af\u30fc\u30dd\u30f3\u30fb\u984d\u9762<\/td>\n<\/tr>\n<tr>\n<td>r<sub>f<\/sub><\/td>\n<td>\u30ea\u30b9\u30af\u30d5\u30ea\u30fc\u30fb\u30ec\u30fc\u30c8\uff08\u56fd\u50b5\u5229\u56de\u308a\uff09<\/td>\n<\/tr>\n<tr>\n<td>t<\/td>\n<td>\u6cd5\u4eba\u7a0e\u7387\uff08\u5b9f\u52b9\u7a0e\u7387\uff09<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h2>\u5177\u4f53\u4f8b\u3067\u78ba\u8a8d<\/h2>\n<h3>\u4f8b1\uff1a\u793e\u50b5\u306eYTM\u304b\u3089\u6c42\u3081\u308b<\/h3>\n<p>\u6b8b\u5b585\u5e74\u3001\u30af\u30fc\u30dd\u30f3\u5e742\uff05\uff08\u5e741\u56de\u6255\u3044\uff09\u3001\u984d\u9762100\u306e\u793e\u50b5\u304c98\u3067\u53d6\u5f15\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u7a0e\u7387\u306f30\uff05\u3067\u3059\u3002<\/p>\n<ol>\n<li>98 \uff1d 2 \u00f7 (1\uff0br) \uff0b \u2026 \uff0b 102 \u00f7 (1\uff0br)<sup>5<\/sup> \u3092\u6e80\u305f\u3059r\u3092\u6c42\u3081\u308b\u3068\u3001r<sub>D<\/sub> \u2252 <strong>2.43\uff05<\/strong><\/li>\n<li>\u7a0e\u5f15\u5f8c\u8ca0\u50b5\u30b3\u30b9\u30c8\uff1a2.43\uff05 \u00d7 (1 \u2212 0.3) \u2252 <strong>1.70\uff05<\/strong><\/li>\n<\/ol>\n<p>\u30af\u30fc\u30dd\u30f3\u306e2\uff05\u3067\u306f\u306a\u304f\u3001\u5e02\u5834\u4fa1\u683c\u304b\u3089\u6c42\u3081\u305f2.43\uff05\u3092\u4f7f\u3046\u70b9\u304c\u30dd\u30a4\u30f3\u30c8\u3067\u3059\u3002<\/p>\n<h3>\u4f8b2\uff1a\u56fd\u50b5\u5229\u56de\u308a\uff0b\u30b9\u30d7\u30ec\u30c3\u30c9\u304b\u3089\u6c42\u3081\u308b<\/h3>\n<p>\u540c\u3058\u5e74\u9650\u306e\u56fd\u50b5\u5229\u56de\u308a\u304c1.0\uff05\u3001\u3053\u306e\u4f01\u696d\u306e\u683c\u4ed8\u3051\u306b\u5bfe\u5fdc\u3059\u308b\u30b9\u30d7\u30ec\u30c3\u30c9\u304c0.8\uff05\u306a\u3089\u3001r<sub>D<\/sub> \uff1d 1.0\uff05 \uff0b 0.8\uff05 \uff1d 1.8\uff05\u3001\u7a0e\u5f15\u5f8c\u306f1.8\uff05 \u00d7 0.7 \uff1d <strong>1.26\uff05<\/strong>\u3067\u3059\u3002<\/p>\n<div class=\"cma-exam\">\n<p class=\"cma-exam-title\">\u8a66\u9a13\u3067\u554f\u308f\u308c\u3084\u3059\u3044\u30dd\u30a4\u30f3\u30c8<\/p>\n<ul>\n<li>\u8ca0\u50b5\u30b3\u30b9\u30c8\u306f<strong>\u904e\u53bb\u306e\u30af\u30fc\u30dd\u30f3\u3084\u7c3f\u4fa1\u306e\u5e73\u5747\u91d1\u5229\u3067\u306f\u306a\u304f\u3001\u73fe\u5728\u306e\u5e02\u5834\u5229\u56de\u308a<\/strong>\u3067\u6e2c\u308b\u3068\u3044\u3046\u539f\u5247\u304c\u554f\u308f\u308c\u3084\u3059\u3044\u3067\u3059\u3002<\/li>\n<li>WACC\u3067\u306f<strong>\u7a0e\u5f15\u5f8c\u306e\u8ca0\u50b5\u30b3\u30b9\u30c8 r<sub>D<\/sub>\u00d7(1\u2212t)<\/strong>\u3092\u4f7f\u3046\u70b9\u3001\u7a0e\u5f15\u524d\u306e\u5024\u3092\u305d\u306e\u307e\u307e\u4f7f\u3046\u3072\u3063\u304b\u3051\u306b\u6ce8\u610f\u3057\u307e\u3057\u3087\u3046\u3002<\/li>\n<li><strong>\u56fd\u50b5\u5229\u56de\u308a\uff0b\u683c\u4ed8\u3051\u5225\u30b9\u30d7\u30ec\u30c3\u30c9<\/strong>\u306b\u3088\u308b\u63a8\u5b9a\u3084\u3001\u8ca1\u52d9\u6307\u6a19\u304b\u3089\u683c\u4ed8\u3051\u3092\u63a8\u5b9a\u3059\u308b\u65b9\u6cd5\u3092\u62bc\u3055\u3048\u307e\u3057\u3087\u3046\u3002<\/li>\n<li>YTM\u306f<strong>\u7d04\u675f\u5229\u56de\u308a<\/strong>\u3067\u3042\u308a\u3001\u4fe1\u7528\u529b\u306e\u4f4e\u3044\u4f01\u696d\u3067\u306f\u671f\u5f85\u30ea\u30bf\u30fc\u30f3\u3092\u4e0a\u56de\u308b\u70b9\u3001\u8d64\u5b57\u4f01\u696d\u3067\u306f\u7bc0\u7a0e\u52b9\u679c\u3092\u53d7\u3051\u306b\u304f\u3044\u70b9\u304c\u8ad6\u70b9\u306b\u306a\u308a\u307e\u3059\u3002<\/li>\n<li>\u8a18\u8ff0\u5f0f\u3067\u306f\u3001\u793e\u50b5\u4fa1\u683c\u304b\u3089YTM\u3092\u6c42\u3081\u3066\u7a0e\u5f15\u5f8c\u306e\u8ca0\u50b5\u30b3\u30b9\u30c8\u3092\u8a08\u7b97\u3055\u305b\u3001<strong>\u8a08\u7b97\u904e\u7a0b<\/strong>\u3092\u793a\u3055\u305b\u308b\u5f62\u304c\u8003\u3048\u3089\u308c\u307e\u3059\u3002<\/li>\n<\/ul>\n<\/div>\n<h2>\u8981\u70b9\u307e\u3068\u3081<\/h2>\n<ul>\n<li>\u8ca0\u50b5\u30b3\u30b9\u30c8\u306f\u3001\u4eca\u501f\u308a\u308b\u3068\u3057\u305f\u3089\u6c42\u3081\u3089\u308c\u308b\u5e02\u5834\u306e\u5229\u56de\u308a\u3067\u6e2c\u308b<\/li>\n<li>\u793e\u50b5\u306eYTM\u3001\u56fd\u50b5\u5229\u56de\u308a\uff0b\u4fe1\u7528\u30b9\u30d7\u30ec\u30c3\u30c9\u306a\u3069\u3067\u63a8\u5b9a\u3059\u308b<\/li>\n<li>WACC\u306b\u306f\u7a0e\u5f15\u5f8c\u306e\u8ca0\u50b5\u30b3\u30b9\u30c8r<sub>D<\/sub>\u00d7(1\u2212t)\u3092\u4f7f\u3046<\/li>\n<li>YTM\u306f\u7d04\u675f\u5229\u56de\u308a\u306a\u306e\u3067\u3001\u4f4e\u683c\u4ed8\u3051\u4f01\u696d\u3067\u306f\u904e\u5927\u8a55\u4fa1\u306b\u6ce8\u610f\u3059\u308b<\/li>\n<\/ul>\n<div class=\"cma-link-box\">\n<p class=\"cma-link-box-title\">\u25b6 \u3042\u308f\u305b\u3066\u8aad\u307f\u305f\u3044<\/p>\n<p><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/cma2-corporate-finance\/\">\u3010\u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c82\u6b21\u3011\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30fb\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u3067\u5b66\u3076\u5185\u5bb9\u306e\u4e00\u89a7\u306b\u623b\u308b<\/a><\/p>\n<p><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/20\/g2-cf-12\/\">MM\u547d\u984c<\/a><\/p>\n<p><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g2-cf-13\/\">\u6700\u9069\u8cc7\u672c\u69cb\u6210<\/a><\/p>\n<p><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/20\/g2-cf-35\/\">WACC\u6cd5\u3068APV\u6cd5<\/a><\/p>\n<\/div>\n<p>\u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c8\u30a2\u30ab\u30c7\u30df\u30fc\u306eYouTube\uff08<a href=\"https:\/\/www.youtube.com\/@cma-fa-academy\" target=\"_blank\" rel=\"noopener\">@cma-fa-academy<\/a>\uff09\u3067\u306f\u3001\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8\u306b\u6cbf\u3063\u3066\u8ad6\u70b9\u30921\u3064\u305a\u3064\u89e3\u8aac\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p><a href=\"https:\/\/utage-system.com\/page\/98Nqc5o0yBvT\" target=\"_blank\" rel=\"noopener\">\u25b6 \u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c8\u30b3\u30df\u30e5\u30cb\u30c6\u30a3\u30fc\u306b\u53c2\u52a0\u3059\u308b<\/a><\/p>\n<p style=\"font-size:0.85em;\">\u203b\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8\u306f\u65e5\u672c\u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c8\u5354\u4f1a\u300c\u30102026\u5e74\u5ea6\u3011CMA\u8cc7\u683c\u306e\u53d6\u5f97\u306b\u6c42\u3081\u3089\u308c\u308b\u4e3b\u8981\u5b66\u7fd2\u4e8b\u9805\u3068\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8\u300d\u3088\u308a\u5f15\u7528\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u8ca0\u50b5\u30b3\u30b9\u30c8\u306f\u904e\u53bb\u306e\u30af\u30fc\u30dd\u30f3\u3067\u306f\u306a\u304f\u73fe\u5728\u306e\u5e02\u5834\u5229\u56de\u308a\u3067\u6e2c\u308a\u307e\u3059\u3002\u793e\u50b5\u306e\u6700\u7d42\u5229\u56de\u308a\u3084\u56fd\u50b5\u5229\u56de\u308a\uff0b\u4fe1\u7528\u30b9\u30d7\u30ec\u30c3\u30c9\u306b\u3088\u308b\u63a8\u5b9a\u65b9\u6cd5\u3001\u7a0e\u5f15\u5f8c\u8ca0\u50b5\u30b3\u30b9\u30c8\u306e\u8003\u3048\u65b9\u3068\u6ce8\u610f\u70b9\u3092\u3001\u8a08\u7b97\u4f8b\u3064\u304d\u3067\u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c82\u6b21\u5411\u3051\u306b\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n","protected":false},"author":1,"featured_media":10816,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jin_ogp_image_url":"","_jin_last_featured_id":0,"footnotes":""},"categories":[22],"tags":[],"class_list":["post-10818","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-glossary"],"_links":{"self":[{"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/posts\/10818","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/comments?post=10818"}],"version-history":[{"count":1,"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/posts\/10818\/revisions"}],"predecessor-version":[{"id":11172,"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/posts\/10818\/revisions\/11172"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/media\/10816"}],"wp:attachment":[{"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/media?parent=10818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/categories?post=10818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/triumphmind.com\/cma\/wp-json\/wp\/v2\/tags?post=10818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}