{"id":3596,"date":"2025-02-20T06:00:00","date_gmt":"2025-02-19T21:00:00","guid":{"rendered":"https:\/\/rad-st.jp\/?p=3596"},"modified":"2024-11-19T08:59:19","modified_gmt":"2024-11-18T23:59:19","slug":"ma%e3%81%ae%e4%bc%81%e6%a5%ad%e4%be%a1%e5%80%a4%e8%a9%95%e4%be%a1%ef%bc%9a%e3%82%a4%e3%83%b3%e3%82%ab%e3%83%a0%e3%82%a2%e3%83%97%e3%83%ad%e3%83%bc%e3%83%81%e3%81%ae%e5%9f%ba%e6%9c%ac%e3%81%a8","status":"publish","type":"post","link":"https:\/\/rad-st.jp\/?p=3596","title":{"rendered":"M&A\u306e\u4f01\u696d\u4fa1\u5024\u8a55\u4fa1\uff1a\u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\u306e\u57fa\u672c\u3068\u6d3b\u7528\u6cd5"},"content":{"rendered":"\n

M&A\uff08\u4f01\u696d\u306e\u5408\u4f75\u30fb\u8cb7\u53ce\uff09\u3067\u306f\u3001\u4f01\u696d\u4fa1\u5024\u3092\u9069\u6b63\u306b\u8a55\u4fa1\u3059\u308b\u3053\u3068\u304c\u6210\u529f\u306e\u9375\u3092\u63e1\u308a\u307e\u3059\u3002\u305d\u306e\u4e2d\u3067\u3082\u300c\u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\u300d\u306f\u3001\u5c06\u6765\u306e\u53ce\u76ca\u6027\u3092\u57fa\u306b\u4f01\u696d\u4fa1\u5024\u3092\u7b97\u51fa\u3059\u308b\u65b9\u6cd5\u3068\u3057\u3066\u3001\u591a\u304f\u306e\u5c02\u9580\u5bb6\u306b\u63a1\u7528\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u672c\u8a18\u4e8b\u3067\u306f\u3001\u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\u306e\u57fa\u672c\u6982\u5ff5\u3084\u5177\u4f53\u7684\u306a\u8a55\u4fa1\u624b\u6cd5\u3001\u5b9f\u52d9\u3067\u306e\u6d3b\u7528\u65b9\u6cd5\u3092\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n

\n

\u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\u3068\u306f\uff1f<\/h3>\n

\u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\u306f\u3001\u4f01\u696d\u304c\u5c06\u6765\u751f\u307f\u51fa\u3059\u5229\u76ca\u3084\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306b\u57fa\u3065\u3044\u3066\u4f01\u696d\u4fa1\u5024\u3092\u8a55\u4fa1\u3059\u308b\u624b\u6cd5\u3067\u3059\u3002\u3053\u306e\u30a2\u30d7\u30ed\u30fc\u30c1\u3067\u306f\u3001\u5c06\u6765\u306e\u53ce\u76ca\u6027\u3092\u73fe\u5728\u4fa1\u5024\u306b\u5272\u308a\u5f15\u3044\u3066\u8a55\u4fa1\u3059\u308b\u305f\u3081\u3001\u53ce\u76ca\u6027\u306e\u9ad8\u3044\u4f01\u696d\u307b\u3069\u9ad8\u3044\u4fa1\u5024\u304c\u3064\u3051\u3089\u308c\u308b\u50be\u5411\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n

\n

\u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\u306e\u4e3b\u306a\u8a55\u4fa1\u624b\u6cd5<\/h3>\n

\u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\u306b\u306f\u3001\u4ee5\u4e0b\u306e2\u3064\u306e\u4e3b\u8981\u306a\u8a55\u4fa1\u624b\u6cd5\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n

1. DCF\u6cd5\uff08Discounted Cash Flow Method\uff09<\/h4>\n

DCF\u6cd5\u306f\u3001\u4ee5\u4e0b\u306e\u30b9\u30c6\u30c3\u30d7\u3067\u4f01\u696d\u4fa1\u5024\u3092\u8a55\u4fa1\u3057\u307e\u3059\u3002<\/p>\n

    \n
  1. \n

    \u5c06\u6765\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u4e88\u6e2c<\/strong>
    \u5bfe\u8c61\u4f01\u696d\u306e\u5c06\u6765\u306e\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u8907\u6570\u5e74\u306b\u308f\u305f\u3063\u3066\u4e88\u6e2c\u3057\u307e\u3059\u3002<\/p>\n<\/li>\n

  2. \n

    \u5272\u5f15\u7387\u306e\u8a2d\u5b9a<\/strong>
    \u5272\u5f15\u7387\u306b\u306f\u3001\u4e00\u822c\u7684\u306bWACC\uff08\u52a0\u91cd\u5e73\u5747\u8cc7\u672c\u30b3\u30b9\u30c8\uff09\u3092\u4f7f\u7528\u3057\u307e\u3059\u3002<\/p>\n<\/li>\n

  3. \n

    \u73fe\u5728\u4fa1\u5024\u306e\u7b97\u51fa<\/strong>
    \u5c06\u6765\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u5272\u5f15\u7387\u3067\u5272\u308a\u5f15\u304d\u3001\u73fe\u5728\u4fa1\u5024\u3092\u7b97\u51fa\u3057\u307e\u3059\u3002<\/p>\n<\/li>\n

  4. \n

    \u30bf\u30fc\u30df\u30ca\u30eb\u30d0\u30ea\u30e5\u30fc\u306e\u8a08\u7b97<\/strong>
    \u4e8b\u696d\u7d99\u7d9a\u4fa1\u5024\u3092\u898b\u7a4d\u3082\u308a\u3001\u73fe\u5728\u4fa1\u5024\u306b\u52a0\u7b97\u3057\u307e\u3059\u3002<\/p>\n<\/li>\n

  5. \n

    \u4f01\u696d\u4fa1\u5024\u306e\u8a08\u7b97<\/strong>
    \u73fe\u5728\u4fa1\u5024\u3068\u30bf\u30fc\u30df\u30ca\u30eb\u30d0\u30ea\u30e5\u30fc\u3092\u5408\u7b97\u3057\u3001\u4f01\u696d\u4fa1\u5024\u3092\u7b97\u51fa\u3057\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ol>\n

    \n

    2. \u30ad\u30e3\u30d4\u30bf\u30ea\u30bc\u30fc\u30b7\u30e7\u30f3\u6cd5<\/h4>\n

    \u30ad\u30e3\u30d4\u30bf\u30ea\u30bc\u30fc\u30b7\u30e7\u30f3\u6cd5\u306f\u3001\u4f01\u696d\u306e\u4e00\u5b9a\u671f\u9593\u306e\u53ce\u76ca\u6027\u3092\u57fa\u306b\u3001\u5358\u7d14\u306a\u8a08\u7b97\u3067\u4f01\u696d\u4fa1\u5024\u3092\u6c42\u3081\u307e\u3059\u3002<\/p>\n

      \n
    1. \n

      \u4e00\u5b9a\u671f\u9593\u306e\u53ce\u76ca\u984d\u3092\u8a2d\u5b9a<\/strong>
      \u55b6\u696d\u5229\u76ca\u3084\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u57fa\u306b\u3057\u307e\u3059\u3002<\/p>\n<\/li>\n

    2. \n

      \u30ad\u30e3\u30d4\u30bf\u30eb\u30b3\u30b9\u30c8\uff08\u8cc7\u672c\u30b3\u30b9\u30c8\uff09\u306e\u8a2d\u5b9a<\/strong>
      \u4f8b\u3048\u307010%\u3068\u3044\u3063\u305f\u4e00\u5b9a\u306e\u30ad\u30e3\u30d4\u30bf\u30eb\u30b3\u30b9\u30c8\u3092\u4f7f\u7528\u3057\u307e\u3059\u3002<\/p>\n<\/li>\n

    3. \n

      \u4f01\u696d\u4fa1\u5024\u306e\u8a08\u7b97<\/strong>
      \u53ce\u76ca\u984d\u3092\u30ad\u30e3\u30d4\u30bf\u30eb\u30b3\u30b9\u30c8\u3067\u5272\u308a\u7b97\u3057\u3001\u4f01\u696d\u4fa1\u5024\u3092\u7b97\u51fa\u3057\u307e\u3059\u3002<\/p>\n<\/li>\n<\/ol>\n

      \n

      \u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\u306e\u30e1\u30ea\u30c3\u30c8\u3068\u30c7\u30e1\u30ea\u30c3\u30c8<\/h3>\n

      \u30e1\u30ea\u30c3\u30c8<\/h4>\n
        \n
      • \n

        \u5c06\u6765\u6027\u306e\u53cd\u6620<\/strong>
        \u4f01\u696d\u306e\u53ce\u76ca\u30dd\u30c6\u30f3\u30b7\u30e3\u30eb\u3092\u8a55\u4fa1\u3067\u304d\u308b\u3002<\/p>\n<\/li>\n

      • \n

        \u5e83\u3044\u9069\u7528\u6027<\/strong>
        \u5e45\u5e83\u3044\u696d\u7a2e\u3084\u4e8b\u696d\u30e2\u30c7\u30eb\u306b\u5bfe\u5fdc\u53ef\u80fd\u3002<\/p>\n<\/li>\n<\/ul>\n

        \u30c7\u30e1\u30ea\u30c3\u30c8<\/h4>\n
          \n
        • \n

          \u4e88\u6e2c\u306e\u4e0d\u78ba\u5b9f\u6027<\/strong>
          \u5c06\u6765\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u4e88\u6e2c\u304c\u96e3\u3057\u3044\u3002<\/p>\n<\/li>\n

        • \n

          \u8907\u96d1\u306a\u8a08\u7b97<\/strong>
          \u5272\u5f15\u7387\u3084\u30bf\u30fc\u30df\u30ca\u30eb\u30d0\u30ea\u30e5\u30fc\u306e\u8a2d\u5b9a\u306b\u5c02\u9580\u7684\u306a\u77e5\u8b58\u304c\u5fc5\u8981\u3002<\/p>\n<\/li>\n<\/ul>\n

          \n

          \u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\u306e\u5b9f\u52d9\u6d3b\u7528<\/h3>\n

          \u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\u306f\u3001\u4ee5\u4e0b\u306e\u3088\u3046\u306a\u5834\u9762\u3067\u6d3b\u7528\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n

          1. M&A\u4fa1\u683c\u4ea4\u6e09<\/h4>\n

          \u8cb7\u53ce\u5074\u3068\u58f2\u5374\u5074\u306e\u53cc\u65b9\u304cDCF\u6cd5\u3092\u7528\u3044\u3066\u4f01\u696d\u4fa1\u5024\u3092\u7b97\u51fa\u3057\u3001\u9069\u6b63\u306a\u4ea4\u6e09\u4fa1\u683c\u3092\u8a2d\u5b9a\u3057\u307e\u3059\u3002<\/p>\n

          2. \u6295\u8cc7\u5224\u65ad<\/h4>\n

          \u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\u3092\u4f7f\u7528\u3057\u3066\u3001\u6295\u8cc7\u306e\u30ea\u30bf\u30fc\u30f3\u304c\u671f\u5f85\u306b\u898b\u5408\u3046\u304b\u3092\u5224\u65ad\u3057\u307e\u3059\u3002<\/p>\n

          3. \u4e8b\u696d\u8a08\u753b\u306e\u7b56\u5b9a<\/h4>\n

          \u5c06\u6765\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u4e88\u6e2c\u3092\u57fa\u306b\u3001\u7d4c\u55b6\u6226\u7565\u306e\u65b9\u5411\u6027\u3092\u5b9a\u3081\u307e\u3059\u3002<\/p>\n

          \n

          \u6ce8\u610f\u70b9\u3068\u6210\u529f\u306e\u30dd\u30a4\u30f3\u30c8<\/h3>\n
            \n
          • \n

            \u4e88\u6e2c\u7cbe\u5ea6\u306e\u5411\u4e0a<\/strong>
            \u4fe1\u983c\u6027\u306e\u9ad8\u3044\u30c7\u30fc\u30bf\u3092\u57fa\u306b\u3001\u73fe\u5b9f\u7684\u306a\u53ce\u76ca\u4e88\u6e2c\u3092\u884c\u3046\u3053\u3068\u304c\u91cd\u8981\u3067\u3059\u3002<\/p>\n<\/li>\n

          • \n

            \u5c02\u9580\u5bb6\u306e\u52a9\u8a00<\/strong>
            \u5272\u5f15\u7387\u3084\u30bf\u30fc\u30df\u30ca\u30eb\u30d0\u30ea\u30e5\u30fc\u306e\u8a2d\u5b9a\u306b\u306f\u3001\u5c02\u9580\u5bb6\u306e\u30a2\u30c9\u30d0\u30a4\u30b9\u304c\u5fc5\u8981\u3067\u3059\u3002<\/p>\n<\/li>\n

          • \n

            \u4ed6\u306e\u30a2\u30d7\u30ed\u30fc\u30c1\u3068\u306e\u4f75\u7528<\/strong>
            \u30de\u30fc\u30b1\u30c3\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\u3084\u30b3\u30b9\u30c8\u30a2\u30d7\u30ed\u30fc\u30c1\u3068\u7d44\u307f\u5408\u308f\u305b\u308b\u3053\u3068\u3067\u3001\u3088\u308a\u7cbe\u5ea6\u306e\u9ad8\u3044\u8a55\u4fa1\u304c\u53ef\u80fd\u3067\u3059\u3002<\/p>\n<\/li>\n<\/ul>\n

            \n

            \u307e\u3068\u3081<\/h3>\n

            \u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\u306f\u3001\u4f01\u696d\u306e\u53ce\u76ca\u6027\u3092\u57fa\u306b\u4fa1\u5024\u3092\u8a55\u4fa1\u3059\u308b\u305f\u3081\u3001\u5c06\u6765\u6027\u306e\u3042\u308b\u4f01\u696d\u3092\u9069\u5207\u306b\u8a55\u4fa1\u3059\u308b\u306e\u306b\u9069\u3057\u3066\u3044\u307e\u3059\u3002\u305f\u3060\u3057\u3001\u4e88\u6e2c\u7cbe\u5ea6\u3084\u8a08\u7b97\u65b9\u6cd5\u306b\u306f\u614e\u91cd\u3055\u304c\u6c42\u3081\u3089\u308c\u308b\u305f\u3081\u3001\u5c02\u9580\u7684\u306a\u77e5\u8b58\u3084\u30c7\u30fc\u30bf\u304c\u4e0d\u53ef\u6b20\u3067\u3059\u3002<\/p>\n

            M&A\u3084\u4e8b\u696d\u627f\u7d99\u306b\u304a\u3044\u3066\u3001\u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\u3092\u52b9\u679c\u7684\u306b\u6d3b\u7528\u3059\u308b\u3053\u3068\u3067\u3001\u4ea4\u6e09\u3084\u6226\u7565\u7b56\u5b9a\u3092\u6709\u5229\u306b\u9032\u3081\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

            M&A\uff08\u4f01\u696d\u306e\u5408\u4f75\u30fb\u8cb7\u53ce\uff09\u3067\u306f\u3001\u4f01\u696d\u4fa1\u5024\u3092\u9069\u6b63\u306b\u8a55\u4fa1\u3059\u308b\u3053\u3068\u304c\u6210\u529f\u306e\u9375\u3092\u63e1\u308a\u307e\u3059\u3002\u305d\u306e\u4e2d\u3067\u3082\u300c\u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\u300d\u306f\u3001\u5c06\u6765\u306e\u53ce\u76ca\u6027\u3092\u57fa\u306b\u4f01\u696d\u4fa1\u5024\u3092\u7b97\u51fa\u3059\u308b\u65b9\u6cd5\u3068\u3057\u3066\u3001\u591a\u304f\u306e\u5c02\u9580\u5bb6\u306b\u63a1\u7528\u3055\u308c\u3066\u3044 … <\/p>\n","protected":false},"author":1,"featured_media":3081,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1292,15],"tags":[1342,824,2332,2334,2335,1855,421,1459,2333,82],"_links":{"self":[{"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/posts\/3596"}],"collection":[{"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rad-st.jp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3596"}],"version-history":[{"count":1,"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/posts\/3596\/revisions"}],"predecessor-version":[{"id":3597,"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/posts\/3596\/revisions\/3597"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rad-st.jp\/index.php?rest_route=\/wp\/v2\/media\/3081"}],"wp:attachment":[{"href":"https:\/\/rad-st.jp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rad-st.jp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rad-st.jp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}