{"id":9271,"date":"2026-09-19T22:04:50","date_gmt":"2026-09-19T13:04:50","guid":{"rendered":"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/cma1-corporate-finance\/"},"modified":"2026-09-20T00:21:27","modified_gmt":"2026-09-19T15:21:27","slug":"cma1-corporate-finance","status":"publish","type":"post","link":"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/cma1-corporate-finance\/","title":{"rendered":"\u3010\u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c81\u6b21\u3011\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30fb\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u3068\u306f\uff1f\u8981\u3059\u308b\u306b\u4f55\u3092\u5b66\u3076\u306e\u304b\u3092\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8\u306b\u6cbf\u3063\u3066\u89e3\u8aac"},"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 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\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30ac\u30d0\u30ca\u30f3\u30b9<\/td>\n<td>\u7d4c\u55b6\u8005\u304c\u682a\u4e3b\u306a\u3069\u306e\u305f\u3081\u306b\u9069\u5207\u306b\u7d4c\u55b6\u3059\u308b\u3088\u3046\u898f\u5f8b\u3065\u3051\u308b\u3057\u304f\u307f\u3092\u7406\u89e3\u3059\u308b<\/td>\n<\/tr>\n<tr>\n<td>(4) \u6295\u8cc7\u306e\u610f\u601d\u6c7a\u5b9a<\/td>\n<td>NPV\u3084IRR\u3092\u4f7f\u3063\u3066\u3001\u305d\u306e\u6295\u8cc7\u3092\u5b9f\u884c\u3059\u3079\u304d\u304b\u3069\u3046\u304b\u3092\u5224\u65ad\u3059\u308b<\/td>\n<\/tr>\n<tr>\n<td>(5) \u8cc7\u672c\u30b3\u30b9\u30c8\u3068\u8cc7\u672c\u69cb\u6210<\/td>\n<td>\u8cc7\u91d1\u3092\u96c6\u3081\u308b\u30b3\u30b9\u30c8\uff08WACC\uff09\u3068\u3001\u8ca0\u50b5\u3068\u682a\u4e3b\u8cc7\u672c\u306e\u6700\u9069\u306a\u7d44\u307f\u5408\u308f\u305b\u3092\u8003\u3048\u308b<\/td>\n<\/tr>\n<tr>\n<td>(8) \u4f01\u696d\u4fa1\u5024\u8a55\u4fa1<\/td>\n<td>\u30d5\u30ea\u30fc\u30fb\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u5272\u308a\u5f15\u3044\u3066\u4f01\u696d\u5168\u4f53\u306e\u4fa1\u5024\u3092\u8a08\u7b97\u3059\u308b<\/td>\n<\/tr>\n<tr>\n<td>(9) \u4f01\u696d\u306e\u30ea\u30b9\u30af\u7ba1\u7406\u3068\u904b\u8ee2\u8cc7\u672c\u7ba1\u7406<\/td>\n<td>\u30ec\u30d0\u30ec\u30c3\u30b8\u306b\u3088\u308b\u30ea\u30b9\u30af\u3068\u3001\u624b\u5143\u8cc7\u91d1\u30fb\u904b\u8ee2\u8cc7\u672c\u306e\u7ba1\u7406\u65b9\u6cd5\u3092\u5b66\u3076<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>\u5404\u5927\u5206\u985e\u306e\u8868\u306b\u3042\u308b<strong>\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8\u540d\u3092\u30af\u30ea\u30c3\u30af\u3059\u308b\u3068\u3001\u7528\u8a9e\u89e3\u8aac\u306e\u8a18\u4e8b<\/strong>\u3067\u610f\u5473\u3068\u8a66\u9a13\u3067\u554f\u308f\u308c\u3084\u3059\u3044\u30dd\u30a4\u30f3\u30c8\u3092\u78ba\u8a8d\u3067\u304d\u307e\u3059\u3002<\/p>\n<h2>(1) \u682a\u5f0f\u4f1a\u793e\u306e\u3057\u304f\u307f<\/h2>\n<div class=\"cma-sum\">\n<p><strong>\u30dd\u30a4\u30f3\u30c8\uff1a<\/strong>\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30fb\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306e\u821e\u53f0\u3068\u306a\u308b\u300c\u682a\u5f0f\u4f1a\u793e\u300d\u306e\u57fa\u672c\u3067\u3059\u3002\u5236\u5ea6\u306e\u6210\u308a\u7acb\u3061\u3001\u682a\u5f0f\u516c\u958b\u306b\u3088\u308b\u8cc7\u91d1\u8abf\u9054\u3001\u95a2\u9023\u3059\u308b\u6cd5\u4ee4\u3001\u6240\u6709\u3068\u7d4c\u55b6\u306e\u5206\u96e2\u3001IR\u3001\u7d4c\u55b6\u8005\u5831\u916c\u3001\u4e8b\u696d\u90e8\u5236\u3084\u6301\u682a\u4f1a\u793e\u3068\u3044\u3063\u305f\u7d44\u7e54\u5f62\u614b\u3092\u62bc\u3055\u3048\u307e\u3059\u3002<\/p>\n<\/div>\n<div class=\"cma-tbl two\">\n<table>\n<thead>\n<tr>\n<th>\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8<\/th>\n<th>\u5b66\u3076\u5185\u5bb9<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-01\/\">\u682a\u5f0f\u4f1a\u793e\u5236\u5ea6\u306e\u6b74\u53f2\u3068\u7279\u5fb4<\/a><\/td>\n<td>\u591a\u304f\u306e\u51fa\u8cc7\u8005\u304b\u3089\u8cc7\u91d1\u3092\u96c6\u3081\u3001\u51fa\u8cc7\u8005\u306f\u51fa\u8cc7\u984d\u307e\u3067\u3057\u304b\u8cac\u4efb\u3092\u8ca0\u308f\u306a\u3044\uff08\u6709\u9650\u8cac\u4efb\uff09\u3068\u3044\u3046\u682a\u5f0f\u4f1a\u793e\u306e\u6210\u308a\u7acb\u3061\u3068\u7279\u5fb4<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-02\/\">\u8cc7\u91d1\u8abf\u9054\u3068\u682a\u5f0f\u516c\u958b<\/a><\/td>\n<td>\u682a\u5f0f\u3084\u8ca0\u50b5\u306b\u3088\u308b\u8cc7\u91d1\u8abf\u9054\u306e\u65b9\u6cd5\u3068\u3001\u682a\u5f0f\u3092\u8a3c\u5238\u53d6\u5f15\u6240\u306b\u4e0a\u5834\uff08\u516c\u958b\uff09\u3059\u308b\u610f\u5473<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-03\/\">\u4e3b\u8981\u306a\u95a2\u9023\u6cd5\u4ee4<\/a><\/td>\n<td>\u4f1a\u793e\u6cd5\u3084\u91d1\u878d\u5546\u54c1\u53d6\u5f15\u6cd5\u306a\u3069\u3001\u682a\u5f0f\u4f1a\u793e\u306e\u904b\u55b6\u3084\u958b\u793a\u3092\u5b9a\u3081\u308b\u6cd5\u5f8b\u306e\u6982\u8981<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-04\/\">\u8ca1\u52d9\u8af8\u8868\u958b\u793a\u306e\u610f\u7fa9<\/a><\/td>\n<td>\u682a\u5f0f\u4f1a\u793e\u304c\u8ca1\u52d9\u8af8\u8868\u3092\u958b\u793a\u3059\u308b\u3053\u3068\u3067\u3001\u682a\u4e3b\u3084\u50b5\u6a29\u8005\u304c\u4f01\u696d\u306e\u72b6\u6cc1\u3092\u5224\u65ad\u3067\u304d\u308b\u3088\u3046\u306b\u306a\u308b\u3068\u3044\u3046\u5f79\u5272<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-05\/\">\u6240\u6709\u3068\u7d4c\u55b6\u306e\u5206\u96e2<\/a><\/td>\n<td>\u682a\u4e3b\uff08\u6240\u6709\u8005\uff09\u3068\u7d4c\u55b6\u8005\u304c\u5225\u306b\u306a\u308b\u3053\u3068\u3067\u5c02\u9580\u7684\u306a\u7d4c\u55b6\u304c\u3067\u304d\u308b\u4e00\u65b9\u3001\u7d4c\u55b6\u8005\u304c\u682a\u4e3b\u306e\u5229\u76ca\u306b\u53cd\u3057\u3066\u884c\u52d5\u3059\u308b\u304a\u305d\u308c\u304c\u3042\u308b\u3053\u3068<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-06\/\">IR\u6d3b\u52d5<\/a><\/td>\n<td>\u4f01\u696d\u304c\u6295\u8cc7\u5bb6\u306b\u5411\u3051\u3066\u7d4c\u55b6\u65b9\u91dd\u3084\u696d\u7e3e\u306a\u3069\u306e\u60c5\u5831\u3092\u81ea\u4e3b\u7684\u306b\u767a\u4fe1\u3059\u308b\u6d3b\u52d5\uff08\u30a4\u30f3\u30d9\u30b9\u30bf\u30fc\u30fb\u30ea\u30ec\u30fc\u30b7\u30e7\u30f3\u30ba\uff09\u306e\u6982\u8981<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-07\/\">\u7d4c\u55b6\u8005\u5831\u916c\u5236\u5ea6<\/a><\/td>\n<td>\u30b9\u30c8\u30c3\u30af\u30aa\u30d7\u30b7\u30e7\u30f3\u3084\u682a\u5f0f\u5831\u916c\u3067\u7d4c\u55b6\u8005\u3068\u682a\u4e3b\u306e\u5229\u5bb3\u3092\u305d\u308d\u3048\u308b\u4ed5\u7d44\u307f\u3068\u3001\u77ed\u671f\u5fd7\u5411\u3092\u62db\u304f\u306a\u3069\u306e\u8ab2\u984c<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-08\/\">\u4f1a\u793e\u306e\u7d44\u7e54\u5f62\u614b<\/a><\/td>\n<td>\u4e8b\u696d\u90e8\u5236\u3001\u30ab\u30f3\u30d1\u30cb\u30fc\u5236\u3001\u6301\u682a\u4f1a\u793e\u306a\u3069\u306e\u7d44\u7e54\u306e\u7a2e\u985e\u3068\u3001\u305d\u308c\u305e\u308c\u306e\u7279\u5fb4<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h2>(2) \u4f01\u696d\u306e\u4e8b\u696d\u30fb\u7af6\u4e89\u6226\u7565<\/h2>\n<div class=\"cma-sum\">\n<p><strong>\u30dd\u30a4\u30f3\u30c8\uff1a<\/strong>\u4f01\u696d\u304c\u3069\u3046\u3084\u3063\u3066\u7a3c\u3050\u529b\u3092\u751f\u307f\u51fa\u3059\u306e\u304b\u3092\u3001\u7d4c\u55b6\u6226\u7565\u8ad6\u304b\u3089\u5b66\u3073\u307e\u3059\u3002\u696d\u754c\u69cb\u9020\u5206\u6790\uff08\u30d5\u30a1\u30a4\u30d6\u30fb\u30d5\u30a9\u30fc\u30b9\uff09\u306a\u3069\u306e\u30dd\u30b8\u30b7\u30e7\u30cb\u30f3\u30b0\u30a2\u30d7\u30ed\u30fc\u30c1\u3001\u7d4c\u55b6\u8cc7\u6e90\u30a2\u30d7\u30ed\u30fc\u30c1\u3001\u591a\u89d2\u5316\u3001\u30d0\u30ea\u30e5\u30fc\u30c1\u30a7\u30fc\u30f3\u3001SWOT\u5206\u6790\u3068\u3001\u6226\u7565\u304c\u8ca1\u52d9\u6307\u6a19\u306b\u3069\u3046\u8868\u308c\u308b\u304b\u3092\u62bc\u3055\u3048\u307e\u3059\u3002<\/p>\n<\/div>\n<div class=\"cma-tbl two\">\n<table>\n<thead>\n<tr>\n<th>\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8<\/th>\n<th>\u5b66\u3076\u5185\u5bb9<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-09\/\">\u4f01\u696d\u6226\u7565\u3068\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9<\/a><\/td>\n<td>\u3069\u306e\u4e8b\u696d\u306b\u3069\u308c\u3060\u3051\u8cc7\u91d1\u3092\u6295\u3058\u308b\u304b\u3068\u3044\u3046\u6226\u7565\u306e\u5224\u65ad\u304c\u3001\u4f01\u696d\u4fa1\u5024\u3084\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u3068\u8868\u88cf\u4e00\u4f53\u3067\u3042\u308b\u3053\u3068<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-10\/\">\u7d4c\u55b6\u6226\u7565\u3068\u4e8b\u696d\u6226\u7565<\/a><\/td>\n<td>\u4f1a\u793e\u5168\u4f53\u306e\u65b9\u5411\u3092\u6c7a\u3081\u308b\u5168\u793e\u6226\u7565\u3068\u3001\u500b\u3005\u306e\u4e8b\u696d\u3067\u3069\u3046\u7af6\u4e89\u3059\u308b\u304b\u3092\u6c7a\u3081\u308b\u4e8b\u696d\u6226\u7565\u306e\u57fa\u672c\u7684\u306a\u8003\u3048\u65b9<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-11\/\">\u30dd\u30b8\u30b7\u30e7\u30cb\u30f3\u30b0\u3068\u696d\u754c\u69cb\u9020\u5206\u6790<\/a><\/td>\n<td>\u696d\u754c\u306e\u53ce\u76ca\u6027\u3092\u7af6\u4e89\u76f8\u624b\u30fb\u65b0\u898f\u53c2\u5165\u30fb\u4ee3\u66ff\u54c1\u30fb\u8cb7\u3044\u624b\u30fb\u58f2\u308a\u624b\u306e5\u3064\u306e\u529b\u3067\u5206\u6790\u3057\u3001\u6709\u5229\u306a\u7acb\u3061\u4f4d\u7f6e\u3092\u9078\u3076\u8003\u3048\u65b9<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-12\/\">\u7d4c\u55b6\u8cc7\u6e90\u30a2\u30d7\u30ed\u30fc\u30c1<\/a><\/td>\n<td>\u6280\u8853\u30fb\u30d6\u30e9\u30f3\u30c9\u30fb\u4eba\u6750\u306a\u3069\u3001\u4ed6\u793e\u304c\u307e\u306d\u3057\u306b\u304f\u3044\u81ea\u793e\u306e\u7d4c\u55b6\u8cc7\u6e90\u306b\u7af6\u4e89\u512a\u4f4d\u306e\u6e90\u6cc9\u3092\u6c42\u3081\u308b\u8003\u3048\u65b9\u3068\u3001\u30dd\u30b8\u30b7\u30e7\u30cb\u30f3\u30b0\u3068\u306e\u9055\u3044<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-13\/\">\u591a\u89d2\u5316\u3068\u5168\u793e\u6226\u7565<\/a><\/td>\n<td>\u8907\u6570\u306e\u4e8b\u696d\u3092\u6301\u3064\u3053\u3068\u306e\u5229\u70b9\uff08\u30b7\u30ca\u30b8\u30fc\u306a\u3069\uff09\u3068\u554f\u984c\u70b9\u3001\u4e8b\u696d\u306e\u7d44\u307f\u5408\u308f\u305b\u3092\u3069\u3046\u8003\u3048\u308b\u304b\u3068\u3044\u3046\u8b70\u8ad6<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-14\/\">\u30d0\u30ea\u30e5\u30fc\u30c1\u30a7\u30fc\u30f3\u3068\u4f01\u696d\u306e\u5883\u754c<\/a><\/td>\n<td>\u958b\u767a\u30fb\u88fd\u9020\u30fb\u8ca9\u58f2\u306a\u3069\u306e\u6d3b\u52d5\u306e\u3069\u3053\u3067\u4fa1\u5024\u3092\u751f\u3093\u3067\u3044\u308b\u304b\u306e\u5206\u6790\u3068\u3001\u3069\u3053\u307e\u3067\u81ea\u793e\u3067\u884c\u3044\u3069\u3053\u304b\u3089\u5916\u90e8\u306b\u4efb\u305b\u308b\u304b\u3068\u3044\u3046\u8b70\u8ad6<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-15\/\">SWOT\u5206\u6790<\/a><\/td>\n<td>\u81ea\u793e\u306e\u5f37\u307f\u30fb\u5f31\u307f\u3068\u3001\u5916\u90e8\u74b0\u5883\u306e\u6a5f\u4f1a\u30fb\u8105\u5a01\u3092\u6574\u7406\u3057\u3066\u6226\u7565\u3092\u8003\u3048\u308b\u65b9\u6cd5<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-16\/\">\u4e8b\u696d\u6226\u7565\u3068\u4fa1\u5024\u6307\u6a19\u30fb\u8ca1\u52d9\u6307\u6a19<\/a><\/td>\n<td>\u30b3\u30b9\u30c8\u30fb\u30ea\u30fc\u30c0\u30fc\u30b7\u30c3\u30d7\u3084\u5dee\u5225\u5316\u306a\u3069\u306e\u6226\u7565\u306e\u9055\u3044\u304c\u3001\u5229\u76ca\u7387\u3084\u8cc7\u7523\u56de\u8ee2\u7387\u306a\u3069\u306e\u6307\u6a19\u306b\u3069\u3046\u8868\u308c\u308b\u304b<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h2>(3) \u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30ac\u30d0\u30ca\u30f3\u30b9<\/h2>\n<div class=\"cma-sum\">\n<p><strong>\u30dd\u30a4\u30f3\u30c8\uff1a<\/strong>\u300c\u7d4c\u55b6\u8005\u3092\u3069\u3046\u898f\u5f8b\u3065\u3051\u308b\u304b\u300d\u3068\u3044\u3046\u30c6\u30fc\u30de\u3067\u3059\u3002\u30ac\u30d0\u30ca\u30f3\u30b9\u306e\u610f\u7fa9\u3001\u4f01\u696d\u502b\u7406\u3001\u30b9\u30c6\u30fc\u30af\u30db\u30eb\u30c0\u30fc\u3068\u306e\u95a2\u4fc2\u3001\u30a4\u30f3\u30d9\u30b9\u30c8\u30e1\u30f3\u30c8\u30fb\u30c1\u30a7\u30fc\u30f3\u3001\u30a8\u30fc\u30b8\u30a7\u30f3\u30b7\u30fc\u554f\u984c\u3001\u4e0a\u5834\u4f1a\u793e\u306e\u6a5f\u95a2\u8a2d\u8a08\u3001\u30b5\u30b9\u30c6\u30ca\u30d6\u30eb\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u3092\u5b66\u3073\u307e\u3059\u3002<\/p>\n<\/div>\n<div class=\"cma-tbl two\">\n<table>\n<thead>\n<tr>\n<th>\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8<\/th>\n<th>\u5b66\u3076\u5185\u5bb9<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-17\/\">\u30ac\u30d0\u30ca\u30f3\u30b9\u306e\u610f\u7fa9\u3068\u80cc\u666f<\/a><\/td>\n<td>\u7d4c\u55b6\u8005\u304c\u682a\u4e3b\u306a\u3069\u306e\u5229\u76ca\u306b\u6cbf\u3063\u3066\u7d4c\u55b6\u3059\u308b\u3088\u3046\u76e3\u8996\u30fb\u898f\u5f8b\u3065\u3051\u308b\u3057\u304f\u307f\u304c\u3001\u306a\u305c\u5fc5\u8981\u3068\u3055\u308c\u3066\u304d\u305f\u304b<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-18\/\">\u4f01\u696d\u502b\u7406<\/a><\/td>\n<td>\u6cd5\u4ee4\u9075\u5b88\u306b\u3068\u3069\u307e\u3089\u306a\u3044\u4f01\u696d\u306e\u502b\u7406\u898f\u7bc4\u306e\u610f\u5473\u3068\u3001\u305d\u308c\u3092\u7d44\u7e54\u306b\u6839\u3065\u304b\u305b\u308b\u65b9\u6cd5<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-19\/\">\u30b9\u30c6\u30fc\u30af\u30db\u30eb\u30c0\u30fc\u3068\u306e\u95a2\u4fc2<\/a><\/td>\n<td>\u682a\u4e3b\u30fb\u50b5\u6a29\u8005\u30fb\u5f93\u696d\u54e1\u30fb\u53d6\u5f15\u5148\u30fb\u5730\u57df\u793e\u4f1a\u306a\u3069\u3001\u4f01\u696d\u3092\u53d6\u308a\u5dfb\u304f\u5229\u5bb3\u95a2\u4fc2\u8005\u3068\u306e\u95a2\u4fc2<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-20\/\">\u30a4\u30f3\u30d9\u30b9\u30c8\u30e1\u30f3\u30c8\u30fb\u30c1\u30a7\u30fc\u30f3<\/a><\/td>\n<td>\u8cc7\u91d1\u306e\u51fa\u3057\u624b\u304b\u3089\u904b\u7528\u6a5f\u95a2\u3092\u901a\u3058\u3066\u4f01\u696d\u3078\u3068\u3064\u306a\u304c\u308b\u6d41\u308c\u306e\u4e2d\u3067\u3001\u30ac\u30d0\u30ca\u30f3\u30b9\u304c\u4f01\u696d\u4fa1\u5024\u306e\u5411\u4e0a\u3092\u901a\u3058\u3066\u6700\u7d42\u7684\u306a\u53d7\u76ca\u8005\u306b\u9084\u5143\u3055\u308c\u308b\u3068\u3044\u3046\u8003\u3048\u65b9<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-21\/\">\u30a8\u30fc\u30b8\u30a7\u30f3\u30b7\u30fc\u554f\u984c<\/a><\/td>\n<td>\u682a\u4e3b\uff08\u4f9d\u983c\u4eba\uff09\u3068\u7d4c\u55b6\u8005\uff08\u4ee3\u7406\u4eba\uff09\u306e\u5229\u5bb3\u304c\u4e00\u81f4\u3057\u306a\u3044\u3053\u3068\u3067\u751f\u3058\u308b\u554f\u984c\u3068\u3001\u30ac\u30d0\u30ca\u30f3\u30b9\u306b\u3088\u308b\u89e3\u6c7a\u306e\u8003\u3048\u65b9<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-22\/\">\u4e0a\u5834\u4f1a\u793e\u306e\u6a5f\u95a2\u8a2d\u8a08<\/a><\/td>\n<td>\u76e3\u67fb\u5f79\u4f1a\u8a2d\u7f6e\u4f1a\u793e\u30fb\u6307\u540d\u59d4\u54e1\u4f1a\u7b49\u8a2d\u7f6e\u4f1a\u793e\u30fb\u76e3\u67fb\u7b49\u59d4\u54e1\u4f1a\u8a2d\u7f6e\u4f1a\u793e\u306e\u9055\u3044\u3068\u3001\u793e\u5916\u53d6\u7de0\u5f79\u306e\u5f79\u5272<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-23\/\">\u30b5\u30b9\u30c6\u30ca\u30d6\u30eb\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9<\/a><\/td>\n<td>\u74b0\u5883\u30fb\u793e\u4f1a\u306e\u6301\u7d9a\u53ef\u80fd\u6027\u306b\u914d\u616e\u3057\u305f\u8cc7\u91d1\u306e\u6d41\u308c\uff08ESG\u6295\u8cc7\u3084\u30b0\u30ea\u30fc\u30f3\u30dc\u30f3\u30c9\u306a\u3069\uff09\u306e\u6982\u8981<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h2>(4) \u6295\u8cc7\u306e\u610f\u601d\u6c7a\u5b9a<\/h2>\n<div class=\"cma-sum\">\n<p><strong>\u30dd\u30a4\u30f3\u30c8\uff1a<\/strong>\u300c\u3053\u306e\u6295\u8cc7\u3092\u3084\u308b\u3079\u304d\u304b\u300d\u3092\u5224\u65ad\u3059\u308b\u65b9\u6cd5\u3067\u3059\u3002\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3068\u73fe\u5728\u4fa1\u5024\u306e\u8003\u3048\u65b9\u3092\u571f\u53f0\u306b\u3001NPV\u30fbIRR\u306a\u3069\u306e\u5224\u65ad\u57fa\u6e96\u3001\u6e1b\u4fa1\u511f\u5374\u3068\u7a0e\u91d1\u304c\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306b\u4e0e\u3048\u308b\u5f71\u97ff\u3001\u30b5\u30f3\u30af\u30b3\u30b9\u30c8\u3084\u6a5f\u4f1a\u8cbb\u7528\u306e\u6271\u3044\u3092\u5b66\u3073\u307e\u3059\u3002\u8a08\u7b97\u554f\u984c\u306e\u4e2d\u5fc3\u306e\u3072\u3068\u3064\u3067\u3059\u3002<\/p>\n<\/div>\n<div class=\"cma-tbl two\">\n<table>\n<thead>\n<tr>\n<th>\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8<\/th>\n<th>\u5b66\u3076\u5185\u5bb9<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-24\/\">\u6295\u8cc7\u5224\u65ad\u306e\u57fa\u672c\u539f\u7406<\/a><\/td>\n<td>\u6295\u8cc7\u306e\u4fa1\u5024\u306f\u5c06\u6765\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u8cc7\u672c\u30b3\u30b9\u30c8\u3067\u5272\u308a\u5f15\u3044\u305f\u73fe\u5728\u4fa1\u5024\u3067\u8003\u3048\u308b\u3001\u3068\u3044\u3046\u57fa\u672c<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-25\/\">NPV\u30fbIRR\u306a\u3069\u306e\u5224\u65ad\u65b9\u6cd5<\/a><\/td>\n<td>\u6b63\u5473\u73fe\u5728\u4fa1\u5024\uff08NPV\uff09\u3001\u5185\u90e8\u53ce\u76ca\u7387\uff08IRR\uff09\u3001\u53ce\u76ca\u6027\u6307\u6a19\u3001\u56de\u53ce\u671f\u9593\u6cd5\u3001\u4f1a\u8a08\u4e0a\u306e\u53ce\u76ca\u7387\u306e\u8a08\u7b97\u3068\u9577\u6240\u30fb\u77ed\u6240\u3002\u57fa\u672c\u306fNPV\u304c\u30d7\u30e9\u30b9\u306a\u3089\u5b9f\u884c<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-26\/\">\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3068\u6e1b\u4fa1\u511f\u5374<\/a><\/td>\n<td>\u6e1b\u4fa1\u511f\u5374\u8cbb\u306f\u73fe\u91d1\u652f\u51fa\u3067\u306f\u306a\u3044\u304c\u7a0e\u91d1\u3092\u6e1b\u3089\u3059\uff08\u7bc0\u7a0e\u52b9\u679c\uff09\u305f\u3081\u3001\u511f\u5374\u65b9\u6cd5\u304c\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306b\u5f71\u97ff\u3059\u308b\u3053\u3068\u306a\u3069\u3001\u8a55\u4fa1\u306e\u6ce8\u610f\u70b9<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-27\/\">\u7121\u5f62\u8cc7\u7523\u30fb\u5916\u90e8\u6027\u30fb\u30b5\u30f3\u30af\u30b3\u30b9\u30c8<\/a><\/td>\n<td>\u7121\u5f62\u8cc7\u7523\u3084\u91d1\u878d\u8cc7\u7523\u3078\u306e\u6295\u8cc7\u306e\u8003\u3048\u65b9\u3001\u4ed6\u306e\u4e8b\u696d\u3078\u306e\u6ce2\u53ca\u52b9\u679c\uff08\u5916\u90e8\u6027\uff09\u3001\u3059\u3067\u306b\u652f\u51fa\u3057\u3066\u53d6\u308a\u623b\u305b\u306a\u3044\u8cbb\u7528\uff08\u30b5\u30f3\u30af\u30b3\u30b9\u30c8\uff09\u306f\u7121\u8996\u3057\u3001\u6a5f\u4f1a\u8cbb\u7528\u306f\u542b\u3081\u308b\u3068\u3044\u3046\u539f\u5247<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h2>(5) \u8cc7\u672c\u30b3\u30b9\u30c8\u3068\u8cc7\u672c\u69cb\u6210<\/h2>\n<div class=\"cma-sum\">\n<p><strong>\u30dd\u30a4\u30f3\u30c8\uff1a<\/strong>\u4f01\u696d\u304c\u8cc7\u91d1\u3092\u96c6\u3081\u308b\u3068\u304d\u306e\u30b3\u30b9\u30c8\u3092\u5b66\u3073\u307e\u3059\u3002\u8ca0\u50b5\u30b3\u30b9\u30c8\u3068\u682a\u4e3b\u8cc7\u672c\u30b3\u30b9\u30c8\uff08CAPM\u306a\u3069\uff09\u3092\u6c42\u3081\u3001\u305d\u308c\u3092\u52a0\u91cd\u5e73\u5747\u3057\u305fWACC\u3092\u8a08\u7b97\u3057\u307e\u3059\u3002\u8ca0\u50b5\u306e\u7bc0\u7a0e\u52b9\u679c\u3068\u3001\u8ca0\u50b5\u3092\u3069\u3053\u307e\u3067\u4f7f\u3046\u3079\u304d\u304b\u3068\u3044\u3046\u6700\u9069\u8cc7\u672c\u69cb\u6210\u306e\u8003\u3048\u65b9\u3082\u62bc\u3055\u3048\u307e\u3059\u3002<\/p>\n<\/div>\n<div class=\"cma-tbl two\">\n<table>\n<thead>\n<tr>\n<th>\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8<\/th>\n<th>\u5b66\u3076\u5185\u5bb9<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-28\/\">WACC\u306e\u8a08\u7b97\u3068\u610f\u7fa9<\/a><\/td>\n<td>\u8ca0\u50b5\u30b3\u30b9\u30c8\uff08\u7a0e\u5f15\u5f8c\uff09\u3068\u682a\u4e3b\u8cc7\u672c\u30b3\u30b9\u30c8\u3092\u6642\u4fa1\u30d9\u30fc\u30b9\u306e\u69cb\u6210\u6bd4\u3067\u52a0\u91cd\u5e73\u5747\u3057\u305f\u3082\u306e\u3067\u3001\u6295\u8cc7\u5224\u65ad\u3084\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\u306e\u5272\u5f15\u7387\u306b\u306a\u308b<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-29\/\">\u8ca0\u50b5\u306e\u7bc0\u7a0e\u52b9\u679c<\/a><\/td>\n<td>\u652f\u6255\u5229\u606f\u306f\u7a0e\u52d9\u4e0a\u306e\u640d\u91d1\u306b\u306a\u308b\u305f\u3081\u7a0e\u91d1\u304c\u6e1b\u308a\u3001\u5b9f\u8cea\u7684\u306a\u8ca0\u50b5\u30b3\u30b9\u30c8\u306f\u300c\u91d1\u5229\u00d7\uff081\uff0d\u7a0e\u7387\uff09\u300d\u306b\u306a\u308b\u3053\u3068<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-30\/\">\u6700\u9069\u8cc7\u672c\u69cb\u6210<\/a><\/td>\n<td>\u8ca0\u50b5\u3092\u5897\u3084\u3059\u3068\u7bc0\u7a0e\u52b9\u679c\u3067\u4fa1\u5024\u304c\u9ad8\u307e\u308b\u4e00\u65b9\u3001\u5012\u7523\u30ea\u30b9\u30af\u306a\u3069\u306e\u30b3\u30b9\u30c8\u3082\u9ad8\u307e\u308b\u305f\u3081\u3001\u305d\u306e\u30d0\u30e9\u30f3\u30b9\u3067\u6700\u9069\u306a\u8ca0\u50b5\u306e\u6c34\u6e96\u3092\u8003\u3048\u308b<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-31\/\">\u8ca0\u50b5\u30b3\u30b9\u30c8\u306e\u8a08\u7b97<\/a><\/td>\n<td>\u793e\u50b5\u306e\u5229\u56de\u308a\u3084\u501f\u5165\u91d1\u5229\u306a\u3069\u304b\u3089\u3001\u4f01\u696d\u304c\u8ca0\u50b5\u3067\u8cc7\u91d1\u3092\u8abf\u9054\u3059\u308b\u30b3\u30b9\u30c8\u3092\u6c42\u3081\u308b\u65b9\u6cd5<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-32\/\">\u682a\u4e3b\u8cc7\u672c\u30b3\u30b9\u30c8\u306e\u8a08\u7b97<\/a><\/td>\n<td>\u682a\u4e3b\u304c\u6c42\u3081\u308b\u30ea\u30bf\u30fc\u30f3\u3092\u3001CAPM\uff08\u5b89\u5168\u5229\u5b50\u7387\uff0b\u30d9\u30fc\u30bf\u00d7\u5e02\u5834\u30ea\u30b9\u30af\u30d7\u30ec\u30df\u30a2\u30e0\uff09\u306a\u3069\u3067\u63a8\u5b9a\u3059\u308b\u65b9\u6cd5<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h2>(8) \u4f01\u696d\u4fa1\u5024\u8a55\u4fa1<\/h2>\n<div class=\"cma-sum\">\n<p><strong>\u30dd\u30a4\u30f3\u30c8\uff1a<\/strong>\u4f01\u696d\u5168\u4f53\u306e\u300c\u672c\u6765\u306e\u4fa1\u5024\u300d\u3092\u8a08\u7b97\u3057\u307e\u3059\u3002\u4f01\u696d\u304c\u751f\u307f\u51fa\u3059\u30d5\u30ea\u30fc\u30fb\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092WACC\u3067\u5272\u308a\u5f15\u304fDCF\u6cd5\u3068\u3001\u4e88\u6e2c\u671f\u9593\u3088\u308a\u5148\u306e\u4fa1\u5024\u3092\u307e\u3068\u3081\u3066\u8a55\u4fa1\u3059\u308b\u30bf\u30fc\u30df\u30ca\u30eb\u30fb\u30d0\u30ea\u30e5\u30fc\u304c\u4e2d\u5fc3\u3067\u3059\u3002<\/p>\n<\/div>\n<div class=\"cma-tbl two\">\n<table>\n<thead>\n<tr>\n<th>\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8<\/th>\n<th>\u5b66\u3076\u5185\u5bb9<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-33\/\">\u30d5\u30ea\u30fc\u30fb\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc<\/a><\/td>\n<td>\u7a0e\u5f15\u5f8c\u55b6\u696d\u5229\u76ca\uff0b\u6e1b\u4fa1\u511f\u5374\u8cbb\uff0d\u8a2d\u5099\u6295\u8cc7\uff0d\u904b\u8ee2\u8cc7\u672c\u306e\u5897\u52a0\u3067\u6c42\u3081\u308b\u3001\u50b5\u6a29\u8005\u3068\u682a\u4e3b\u304c\u81ea\u7531\u306b\u53d7\u3051\u53d6\u308c\u308b\u73fe\u91d1\u306e\u610f\u5473\u3068\u8a08\u7b97<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-34\/\">DCF\u6cd5\u306b\u3088\u308b\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1<\/a><\/td>\n<td>\u5c06\u6765\u306e\u30d5\u30ea\u30fc\u30fb\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092WACC\u3067\u5272\u308a\u5f15\u3044\u3066\u4e8b\u696d\u4fa1\u5024\u3092\u6c42\u3081\u3001\u975e\u4e8b\u696d\u8cc7\u7523\u3092\u52a0\u3048\u8ca0\u50b5\u3092\u5dee\u3057\u5f15\u3044\u3066\u682a\u4e3b\u4fa1\u5024\u3092\u6c42\u3081\u308b\u6d41\u308c<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-35\/\">\u30bf\u30fc\u30df\u30ca\u30eb\u30fb\u30d0\u30ea\u30e5\u30fc\u3068\u6c38\u4e45\u6210\u9577\u7387<\/a><\/td>\n<td>\u4e88\u6e2c\u671f\u9593\u306e\u5f8c\u306e\u4fa1\u5024\u3092\u3001\u4e00\u5b9a\u306e\u6210\u9577\u7387\uff08\u6c38\u4e45\u6210\u9577\u7387\uff09\u3067\u6210\u9577\u3057\u7d9a\u3051\u308b\u3068\u4eee\u5b9a\u3057\u3066\u307e\u3068\u3081\u3066\u8a08\u7b97\u3059\u308b\u65b9\u6cd5\uff08\u6700\u7d42\u5e74\u5ea6\u306e\u7fcc\u5e74\u306eFCF\u00f7\uff08WACC\uff0d\u6210\u9577\u7387\uff09\uff09<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h2>(9) \u4f01\u696d\u306e\u30ea\u30b9\u30af\u7ba1\u7406\u3068\u904b\u8ee2\u8cc7\u672c\u7ba1\u7406<\/h2>\n<div class=\"cma-sum\">\n<p><strong>\u30dd\u30a4\u30f3\u30c8\uff1a<\/strong>\u4f01\u696d\u306e\u5229\u76ca\u306e\u30d6\u30ec\uff08\u30ea\u30b9\u30af\uff09\u3068\u3001\u65e5\u3005\u306e\u8cc7\u91d1\u7e70\u308a\u3092\u5b66\u3073\u307e\u3059\u3002\u55b6\u696d\u30ec\u30d0\u30ec\u30c3\u30b8\u30fb\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u30fb\u30c8\u30fc\u30bf\u30eb\u30fb\u30ec\u30d0\u30ec\u30c3\u30b8\u3067\u30ea\u30b9\u30af\u3092\u6e2c\u308a\u3001\u6d41\u52d5\u6027\u6307\u6a19\u3084\u30ad\u30e3\u30c3\u30b7\u30e5\u30fb\u30b3\u30f3\u30d0\u30fc\u30b8\u30e7\u30f3\u30fb\u30b5\u30a4\u30af\u30eb\u3067\u904b\u8ee2\u8cc7\u672c\u306e\u52b9\u7387\u3092\u5206\u6790\u3057\u307e\u3059\u3002<\/p>\n<\/div>\n<div class=\"cma-tbl two\">\n<table>\n<thead>\n<tr>\n<th>\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8<\/th>\n<th>\u5b66\u3076\u5185\u5bb9<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-36\/\">\u30ec\u30d0\u30ec\u30c3\u30b8\u3068\u4e8b\u696d\u30fb\u8ca1\u52d9\u30ea\u30b9\u30af<\/a><\/td>\n<td>\u56fa\u5b9a\u8cbb\u306b\u3088\u308b\u5229\u76ca\u306e\u30d6\u30ec\uff08\u4e8b\u696d\u30ea\u30b9\u30af\uff09\u3068\u3001\u8ca0\u50b5\u306e\u5229\u606f\u8ca0\u62c5\u306b\u3088\u308b\u5229\u76ca\u306e\u30d6\u30ec\uff08\u8ca1\u52d9\u30ea\u30b9\u30af\uff09\u3092\u30ec\u30d0\u30ec\u30c3\u30b8\u306e\u8003\u3048\u65b9\u3067\u6349\u3048\u308b<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-37\/\">\u30ec\u30d0\u30ec\u30c3\u30b8\u6307\u6a19<\/a><\/td>\n<td>\u58f2\u4e0a\u306e\u5909\u5316\u7387\u306b\u5bfe\u3059\u308b\u55b6\u696d\u5229\u76ca\u306e\u5909\u5316\u7387\uff08\u55b6\u696d\u30ec\u30d0\u30ec\u30c3\u30b8\uff09\u3001\u55b6\u696d\u5229\u76ca\u306b\u5bfe\u3059\u308b\u7d14\u5229\u76ca\u3084EPS\u306e\u5909\u5316\u7387\uff08\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\uff09\u3068\u3001\u305d\u306e\u7a4d\u306e\u30c8\u30fc\u30bf\u30eb\u30fb\u30ec\u30d0\u30ec\u30c3\u30b8<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-38\/\">\u8ca1\u52d9\u30ec\u30d0\u30ec\u30c3\u30b8\u3068\u7d14\u5229\u76ca\u30fbROE<\/a><\/td>\n<td>\u8ca0\u50b5\u3092\u5897\u3084\u3059\u3068\u3001\u4e8b\u696d\u304c\u3046\u307e\u304f\u3044\u3051\u3070ROE\u304c\u9ad8\u307e\u308a\u3001\u60aa\u3044\u3068\u304d\u306f\u3088\u308a\u5927\u304d\u304f\u4e0b\u304c\u308b\u3068\u3044\u3046\u95a2\u4fc2<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-39\/\">\u6d41\u52d5\u6027\u7ba1\u7406\u3068\u6d41\u52d5\u6027\u6307\u6a19<\/a><\/td>\n<td>\u652f\u6255\u3044\u306b\u56f0\u3089\u306a\u3044\u3088\u3046\u624b\u5143\u8cc7\u91d1\u3092\u7ba1\u7406\u3059\u308b\u65b9\u6cd5\u3068\u3001\u6d41\u52d5\u6bd4\u7387\u30fb\u5f53\u5ea7\u6bd4\u7387\u306a\u3069\u306b\u3088\u308b\u5206\u6790<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-40\/\">\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3068\u904b\u8ee2\u8cc7\u672c\u7ba1\u7406<\/a><\/td>\n<td>\u58f2\u4e0a\u50b5\u6a29\u30fb\u68da\u5378\u8cc7\u7523\u30fb\u4ed5\u5165\u50b5\u52d9\u306e\u30d0\u30e9\u30f3\u30b9\u304c\u8cc7\u91d1\u7e70\u308a\u306b\u5f71\u97ff\u3057\u3001\u904b\u8ee2\u8cc7\u672c\u3092\u6e1b\u3089\u3059\u3068\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u304c\u5897\u3048\u308b\u3053\u3068<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/g1-cf-41\/\">\u30ad\u30e3\u30c3\u30b7\u30e5\u30fb\u30b3\u30f3\u30d0\u30fc\u30b8\u30e7\u30f3\u30fb\u30b5\u30a4\u30af\u30eb<\/a><\/td>\n<td>CCC\uff1d\u58f2\u4e0a\u50b5\u6a29\u56de\u8ee2\u65e5\u6570\uff0b\u68da\u5378\u8cc7\u7523\u56de\u8ee2\u65e5\u6570\uff0d\u4ed5\u5165\u50b5\u52d9\u56de\u8ee2\u65e5\u6570\u3002\u4ed5\u5165\u308c\u306e\u652f\u6255\u3044\u304b\u3089\u8ca9\u58f2\u4ee3\u91d1\u306e\u56de\u53ce\u307e\u3067\u306b\u304b\u304b\u308b\u65e5\u6570\u3092\u8868\u3057\u3001\u77ed\u3044\u307b\u3069\u8cc7\u91d1\u52b9\u7387\u304c\u826f\u3044<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h2>\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30fb\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u3092\u5b66\u3076\u3068\u304d\u306e\u30b3\u30c4<\/h2>\n<h3>1. \u300c\u4f01\u696d\u4fa1\u5024\u3092\u9ad8\u3081\u308b\u306b\u306f\uff1f\u300d\u3068\u3044\u3046\u8ef8\u3067\u3064\u306a\u3052\u308b<\/h3>\n<p>\u6226\u7565\u30fb\u30ac\u30d0\u30ca\u30f3\u30b9\u30fb\u6295\u8cc7\u5224\u65ad\u30fb\u8cc7\u672c\u69cb\u6210\u30fb\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\u306f\u3001\u30d0\u30e9\u30d0\u30e9\u306e\u30c6\u30fc\u30de\u306b\u898b\u3048\u3066\u3001\u3059\u3079\u3066<strong>\u4f01\u696d\u4fa1\u5024\u3092\u3069\u3046\u9ad8\u3081\u308b\u304b<\/strong>\u3068\u3044\u3046\u554f\u3044\u306b\u3064\u306a\u304c\u3063\u3066\u3044\u307e\u3059\u3002\u5404\u5927\u5206\u985e\u304c\u3053\u306e\u554f\u3044\u306e\u3069\u306e\u90e8\u5206\u3092\u6271\u3063\u3066\u3044\u308b\u304b\u3092\u610f\u8b58\u3059\u308b\u3068\u3001\u5168\u4f53\u50cf\u304c\u3064\u304b\u307f\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n<h3>2. (1)\u301c(3)\u306f\u7528\u8a9e\u306e\u610f\u5473\u3068\u80cc\u666f\u307e\u3067\u62bc\u3055\u3048\u308b<\/h3>\n<p>\u682a\u5f0f\u4f1a\u793e\u306e\u3057\u304f\u307f\u3001\u7d4c\u55b6\u6226\u7565\u3001\u30ac\u30d0\u30ca\u30f3\u30b9\u306f\u77e5\u8b58\u554f\u984c\u304c\u4e2d\u5fc3\u3067\u3059\u3002\u7528\u8a9e\u3092\u899a\u3048\u308b\u3060\u3051\u3067\u306a\u304f\u3001\u300c\u306a\u305c\u305d\u306e\u4ed5\u7d44\u307f\u304c\u5fc5\u8981\u306a\u306e\u304b\u300d\u300c\u3069\u3093\u306a\u554f\u984c\u3092\u89e3\u6c7a\u3059\u308b\u306e\u304b\u300d\u307e\u3067\u7406\u89e3\u3057\u3066\u304a\u304f\u3068\u3001\u9078\u629e\u80a2\u306e\u6b63\u8aa4\u3092\u5224\u65ad\u3057\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n<h3>3. \u8a08\u7b97\u306f(4)(5)(8)(9)\u3092\u4e2d\u5fc3\u306b\u624b\u3092\u52d5\u304b\u3059<\/h3>\n<p>NPV\u30fbIRR\u3001WACC\u3001\u30d5\u30ea\u30fc\u30fb\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3068DCF\u6cd5\u3001\u30ec\u30d0\u30ec\u30c3\u30b8\u3084CCC\u306f\u8a08\u7b97\u554f\u984c\u306e\u5b9a\u756a\u3067\u3059\u3002\u30c6\u30ad\u30b9\u30c8\u306e\u4f8b\u984c\u3092\u96fb\u5353\u3067\u5b9f\u969b\u306b\u89e3\u304d\u3001\u5f0f\u306e\u610f\u5473\u3092\u78ba\u304b\u3081\u306a\u304c\u3089\u9032\u3081\u307e\u3057\u3087\u3046\u3002<\/p>\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\u3053\u3053\u3067\u7d39\u4ecb\u3057\u305f\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8\u30921\u3064\u305a\u3064\u52d5\u753b\u3067\u89e3\u8aac\u3057\u3066\u3044\u307e\u3059\u3002\u30c6\u30ad\u30b9\u30c8\u3068\u3042\u308f\u305b\u3066\u6d3b\u7528\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\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\u3068\u306f\uff1f\u8981\u3059\u308b\u306b\u4f55\u3092\u5b66\u3076\u306e\u304b\u3092\u5b66\u7fd2\u30dd\u30a4\u30f3\u30c8\u306b\u6cbf\u3063\u3066\u89e3\u8aac<\/a><\/p>\n<p><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/cma-level1-overview\/\">\u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c8\uff08CMA\uff091\u6b21\u8a66\u9a13\u306e\u6982\u8981\uff5c\u79d1\u76ee\u30fb\u914d\u70b9\u30fb\u65e5\u7a0b\u30fb\u5408\u683c\u7387\u3092\u307e\u3068\u3081\u3066\u89e3\u8aac<\/a><\/p>\n<p><a href=\"https:\/\/triumphmind.com\/cma\/2026\/09\/19\/cma-calculator\/\">\u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c8\u8a66\u9a13\u306b\u304a\u3059\u3059\u3081\u306e\u95a2\u6570\u96fb\u5353\u306fBA II Plus\uff5cCFA\u00ae\u307e\u3067\u4f7f\u3048\u308b\u7406\u7531\u3068\u4f7f\u3044\u65b9\u3092\u52d5\u753b\u3067\u89e3\u8aac<\/a><\/p>\n<\/div>\n<h2>\u3088\u304f\u3042\u308b\u8cea\u554f<\/h2>\n<h3>Q. \u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30fb\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306f\u3069\u3053\u304b\u3089\u52c9\u5f37\u3059\u308c\u3070\u3044\u3044\u3067\u3059\u304b\uff1f<\/h3>\n<p>\u5927\u5206\u985e(1)\u306e\u682a\u5f0f\u4f1a\u793e\u306e\u3057\u304f\u307f\u304b\u3089\u9806\u306b\u9032\u3081\u308b\u306e\u304c\u304a\u3059\u3059\u3081\u3067\u3059\u3002(1)\u301c(3)\u3067\u4f1a\u793e\u306e\u5236\u5ea6\u3068\u7d4c\u55b6\u306e\u8003\u3048\u65b9\u3092\u3064\u304b\u3093\u3067\u304b\u3089\u3001(4)\u306e\u6295\u8cc7\u306e\u610f\u601d\u6c7a\u5b9a\u3001(5)\u306e\u8cc7\u672c\u30b3\u30b9\u30c8\u3001(8)\u306e\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\u3078\u9032\u3080\u3068\u3001\u8a08\u7b97\u306e\u610f\u5473\u304c\u7406\u89e3\u3057\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n<h3>Q. 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