{"id":2027,"date":"2025-11-15T09:46:20","date_gmt":"2025-11-15T00:46:20","guid":{"rendered":"https:\/\/soto-kouro.com\/?p=2027"},"modified":"2025-11-29T13:35:14","modified_gmt":"2025-11-29T04:35:14","slug":"%e7%9f%b3%e6%b2%b9%e8%b3%87%e6%ba%90%e9%96%8b%e7%99%ba%ef%bc%881662%ef%bc%89%e3%81%ae%e9%ad%85%e5%8a%9b%ef%bd%9c%e5%ae%89%e5%ae%9a%e9%85%8d%e5%bd%93%e3%83%bb%e6%88%90%e9%95%b7%e6%80%a7%e3%83%bb","status":"publish","type":"post","link":"https:\/\/soto-kouro.com\/?p=2027","title":{"rendered":"\u77f3\u6cb9\u8cc7\u6e90\u958b\u767a\uff081662\uff09\u306e\u9b45\u529b\uff5c\u5b89\u5b9a\u914d\u5f53\u30fb\u6210\u9577\u6027\u30fb\u5272\u5b89\u682a\u3068\u3057\u3066\u6ce8\u76ee"},"content":{"rendered":"\n<p>\u77f3\u6cb9\u8cc7\u6e90\u958b\u767a\u682a\u5f0f\u4f1a\u793e\uff08JAPEX\u3001\u8a3c\u5238\u30b3\u30fc\u30c91662\uff09\u306f\u3001\u65e5\u672c\u3092\u4ee3\u8868\u3059\u308b\u30a8\u30cd\u30eb\u30ae\u30fc\u4f01\u696d\u3067\u3001\u539f\u6cb9\u30fb\u5929\u7136\u30ac\u30b9\u306e\u63a2\u9271\u30fb\u958b\u767a\u30fb\u751f\u7523\uff08E\uff06P\u4e8b\u696d\uff09\u3092\u4e2d\u6838\u306b\u3001\u30a4\u30f3\u30d5\u30e9\u30fb\u30e6\u30fc\u30c6\u30a3\u30ea\u30c6\u30a3\u4e8b\u696d\u3084\u305d\u306e\u4ed6\u591a\u89d2\u7684\u4e8b\u696d\u3082\u5c55\u958b\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u5b89\u5b9a\u3057\u305f\u8ca1\u52d9\u4f53\u8cea\u3068\u5b89\u5b9a\u914d\u5f53\u3092\u7279\u5fb4\u3068\u3057\u3001\u682a\u5f0f\u6295\u8cc7\u5bb6\u3084FIRE\u30fb\u65e9\u671f\u30ea\u30bf\u30a4\u30a2\u3092\u76ee\u6307\u3059\u6295\u8cc7\u5bb6\u306b\u6ce8\u76ee\u3055\u308c\u308b\u9298\u67c4\u3067\u3059\u3002\u682a\u5f0f\u6295\u8cc7\u3084FIRE\uff08\u65e9\u671f\u30ea\u30bf\u30a4\u30a2\uff09\u3092\u76ee\u6307\u3059\u65b9\u306b\u3068\u3063\u3066\u3001\u30a4\u30f3\u30d5\u30e9\u7cfb\u30fb\u8cc7\u6e90\u30fb\u30a8\u30cd\u30eb\u30ae\u30fc\u7cfb\u306e\u9298\u67c4\u306f\u9577\u671f\u6295\u8cc7\u3068\u306e\u76f8\u6027\u306f\u629c\u7fa4\u306a\u3093\u3067\u3059\u3088\u306d\u3002\u672c\u8a18\u4e8b\u3067\u306f\u3001\u77f3\u6cb9\u8cc7\u6e90\u958b\u767a\u306e\u4e8b\u696d\u5185\u5bb9\u3001\u6700\u65b0\u6c7a\u7b97\u3001\u8ca1\u52d9\u72b6\u6cc1\u3001\u914d\u5f53\u91d1\u63a8\u79fb\u3001\u682a\u4fa1\u6307\u6a19\u3001\u5f37\u307f\u3084\u9b45\u529b\u307e\u3067\u3092\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" width=\"1024\" height=\"538\" src=\"https:\/\/soto-kouro.com\/wp-content\/uploads\/2025\/11\/\u77f3\u6cb9\u8cc7\u6e90\u958b\u767a-1024x538.png\" alt=\"\" class=\"wp-image-2029\" srcset=\"https:\/\/soto-kouro.com\/wp-content\/uploads\/2025\/11\/\u77f3\u6cb9\u8cc7\u6e90\u958b\u767a-1024x538.png 1024w, https:\/\/soto-kouro.com\/wp-content\/uploads\/2025\/11\/\u77f3\u6cb9\u8cc7\u6e90\u958b\u767a-300x158.png 300w, https:\/\/soto-kouro.com\/wp-content\/uploads\/2025\/11\/\u77f3\u6cb9\u8cc7\u6e90\u958b\u767a-768x403.png 768w, https:\/\/soto-kouro.com\/wp-content\/uploads\/2025\/11\/\u77f3\u6cb9\u8cc7\u6e90\u958b\u767a.png 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure><\/div>\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">\u77f3\u6cb9\u8cc7\u6e90\u958b\u767a\u306e\u4e8b\u696d\u5185\u5bb9<\/h2>\n\n\n\n<p>\u77f3\u6cb9\u8cc7\u6e90\u958b\u767a\u682a\u5f0f\u4f1a\u793e\uff08\u901a\u79f0JAPEX\uff09\u306f\u30011955\u5e74\u306b\u8a2d\u7acb\u3055\u308c\u305f\u65e5\u672c\u3092\u4ee3\u8868\u3059\u308b\u77f3\u6cb9\u30fb\u5929\u7136\u30ac\u30b9\u958b\u767a\u4f01\u696d\u3067\u3059\u3002\u4e3b\u306a\u4e8b\u696d\u306f\u3001\u539f\u6cb9\u3084\u5929\u7136\u30ac\u30b9\u306e\u63a2\u9271\u30fb\u958b\u767a\u30fb\u751f\u7523\u3092\u62c5\u3046E&amp;P\uff08Exploration &amp; Production\uff09\u4e8b\u696d\u3067\u3059\u304c\u3001\u305d\u308c\u3060\u3051\u306b\u7559\u307e\u3089\u306a\u3044\u306e\u304c\u9b45\u529b\u306e\u4e00\u3064\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">1. E\uff06P\u4e8b\u696d\uff08\u63a2\u9271\u30fb\u958b\u767a\u30fb\u751f\u7523\uff09<\/h3>\n\n\n\n<p>\u56fd\u5185\u5916\u3067\u539f\u6cb9\u30fb\u5929\u7136\u30ac\u30b9\u306e\u63a2\u9271\u30fb\u958b\u767a\u30fb\u751f\u7523\u3092\u884c\u3063\u3066\u3044\u307e\u3059\u3002\u6d77\u5916\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u3067\u306f\u30ab\u30ca\u30c0\u3084\u30aa\u30fc\u30b9\u30c8\u30e9\u30ea\u30a2\u3092\u4e2d\u5fc3\u306b\u5c55\u958b\u3057\u3001\u56fd\u5185\u3067\u306f\u5317\u6d77\u9053\u3084\u702c\u6238\u5185\u6d77\u3067\u3082\u6d3b\u767a\u306b\u751f\u7523\u6d3b\u52d5\u3092\u884c\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>2026\u5e743\u6708\u671f\u4e2d\u9593\u6c7a\u7b97\u3067\u306f\u3001\u3053\u3046\u3057\u305f\u6d77\u5916\u751f\u7523\u304c\u8ca9\u58f2\u91cf\u3092\u652f\u3048\u3001\u5317\u7c73\u30fb\u6b27\u5dde\u3067\u306e\u539f\u6cb9\u30fb\u5929\u7136\u30ac\u30b9\u8f38\u51fa\u306e\u5897\u52a0\u304c\u5229\u76ca\u62bc\u3057\u4e0a\u3052\u8981\u56e0\u3068\u306a\u308a\u307e\u3057\u305f\u3002E&amp;P\u4e8b\u696d\u306f\u4fa1\u683c\u5909\u52d5\u306e\u5f71\u97ff\u3092\u53d7\u3051\u3084\u3059\u3044\u4e00\u65b9\u3001\u6d77\u5916\u5206\u6563\u3068\u56fd\u5185\u751f\u7523\u306e\u7d44\u307f\u5408\u308f\u305b\u3067\u5b89\u5b9a\u6027\u3092\u9ad8\u3081\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2. \u30a4\u30f3\u30d5\u30e9\u30fb\u30e6\u30fc\u30c6\u30a3\u30ea\u30c6\u30a3\u4e8b\u696d<\/h3>\n\n\n\n<p>\u5929\u7136\u30ac\u30b9\u306e\u8ca9\u58f2\u3001\u96fb\u529b\u4f9b\u7d66\u3001\u30d0\u30a4\u30aa\u30de\u30b9\u71c3\u6599\u306e\u4f9b\u7d66\u3092\u624b\u304c\u3051\u308b\u4e8b\u696d\u3067\u3059\u3002\u56fd\u5185\u306e\u5b89\u5b9a\u9700\u8981\u3092\u53d6\u308a\u8fbc\u307f\u3001\u7279\u306b\u611b\u77e5\u770c\u306a\u3069\u3067\u7a3c\u50cd\u4e2d\u306e\u30d0\u30a4\u30aa\u30de\u30b9\u767a\u96fb\u6240\u306e\u62e1\u5927\u306f\u3001\u74b0\u5883\u898f\u5236\u5bfe\u5fdc\u3084\u8131\u70ad\u7d20\u793e\u4f1a\u3078\u306e\u79fb\u884c\u3068\u3044\u3046\u6210\u9577\u30c9\u30e9\u30a4\u30d0\u30fc\u3068\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u8cc7\u6e90\u4f9d\u5b58\u304b\u3089\u8131\u5374\u3057\u3064\u3064\u3042\u308b\u70b9\u306f\u3001\u9577\u671f\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u3082\u5b89\u5fc3\u611f\u306e\u3042\u308b\u8981\u7d20\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3. \u305d\u306e\u4ed6\u4e8b\u696d<\/h3>\n\n\n\n<p>\u8acb\u8ca0\u5de5\u4e8b\u3084\u77f3\u6cb9\u88fd\u54c1\u306e\u8ca9\u58f2\u306a\u3069\u3001\u591a\u89d2\u7684\u306a\u53ce\u76ca\u6e90\u3092\u6301\u3063\u3066\u3044\u307e\u3059\u3002\u898f\u6a21\u306f\u5927\u304d\u304f\u3042\u308a\u307e\u305b\u3093\u304c\u3001E&amp;P\u3084\u30a4\u30f3\u30d5\u30e9\u4e8b\u696d\u306e\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u3092\u7de9\u548c\u3059\u308b\u5f79\u5272\u3092\u679c\u305f\u3057\u3066\u3044\u307e\u3059\u3002\u3053\u3046\u3057\u305f\u591a\u89d2\u5316\u306b\u3088\u308a\u3001\u8cc7\u6e90\u4fa1\u683c\u306e\u5909\u52d5\u30ea\u30b9\u30af\u3092\u4e00\u5b9a\u7a0b\u5ea6\u5438\u53ce\u3067\u304d\u308b\u70b9\u3082\u3001\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u306e\u9b45\u529b\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\">\u6700\u65b0\u6c7a\u7b97\u306e\u6982\u8981<\/h2>\n\n\n\n<p>\u77f3\u6cb9\u8cc7\u6e90\u958b\u767a\u306e2026\u5e743\u6708\u671f\u4e2d\u9593\u6c7a\u7b97\u3067\u306f\u3001\u539f\u6cb9\u30fb\u5929\u7136\u30ac\u30b9\u4fa1\u683c\u4e0b\u843d\u306e\u5f71\u97ff\u3067\u58f2\u4e0a\u9ad8\u3068\u55b6\u696d\u5229\u76ca\u306f\u6e1b\u5c11\u3057\u307e\u3057\u305f\u304c\u3001\u70ba\u66ff\u5dee\u76ca\u3084\u6301\u5206\u6cd5\u6295\u8cc7\u640d\u76ca\u306e\u6539\u5584\u306b\u3088\u308a\u7d4c\u5e38\u5229\u76ca\u30fb\u7d14\u5229\u76ca\u306f\u5897\u76ca\u3068\u306a\u308a\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u6c7a\u7b97\u9805\u76ee<\/th><th>2026\u5e743\u6708\u671f\u4e2d\u9593<\/th><th>\u524d\u5e74\u540c\u671f\u6bd4<\/th><\/tr><\/thead><tbody><tr><td>\u58f2\u4e0a\u9ad8<\/td><td>1,681.4\u5104\u5186<\/td><td>-8.4%<\/td><\/tr><tr><td>\u55b6\u696d\u5229\u76ca<\/td><td>255.07\u5104\u5186<\/td><td>-11.3%<\/td><\/tr><tr><td>\u7d4c\u5e38\u5229\u76ca<\/td><td>329.37\u5104\u5186<\/td><td>+27.6%<\/td><\/tr><tr><td>\u89aa\u4f1a\u793e\u682a\u4e3b\u306b\u5e30\u5c5e\u3059\u308b\u7d14\u5229\u76ca<\/td><td>270.55\u5104\u5186<\/td><td>+28.0%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>\u7dcf\u8cc7\u7523\u306f6,847.37\u5104\u5186\u3001\u7d14\u8cc7\u7523\u306f5,706.3\u5104\u5186\u3067\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u306f79.0\uff05\u3068\u9ad8\u6c34\u6e96\u3092\u7dad\u6301\u3002\u8ca1\u52d9\u5b89\u5b9a\u6027\u306f\u975e\u5e38\u306b\u9ad8\u304f\u3001\u9577\u671f\u6295\u8cc7\u306b\u9069\u3057\u305f\u57fa\u76e4\u304c\u3042\u308a\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\">\u53ce\u76ca\u6027\u30fb\u5b89\u5b9a\u6027\u30fb\u6210\u9577\u6027<\/h2>\n\n\n\n<p>\u77f3\u6cb9\u8cc7\u6e90\u958b\u767a\u306f\u904e\u53bb12\u56db\u534a\u671f\u306b\u308f\u305f\u308a\u3001\u53ce\u76ca\u6027\u30fb\u5b89\u5b9a\u6027\u30fb\u6210\u9577\u6027\u306e\u6539\u5584\u50be\u5411\u304c\u7d9a\u3044\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u53ce\u76ca\u6027<\/strong><br>\u7d14\u5229\u76ca\u7387\u3068\u55b6\u696d\u5229\u76ca\u7387\u306f\u524d\u5e74\u540c\u671f\u6bd4\u3067\u6539\u5584\u3002ROE 15.73\uff05\u3001ROA\u3082\u4e00\u822c\u6c34\u6e96\u3092\u4e0a\u56de\u308a\u3001\u53ce\u76ca\u6027\u306f\u5b89\u5b9a\u3057\u3066\u3044\u307e\u3059\u3002EPS\u3082\u524d\u5e74\u540c\u671f\u6bd4\u3067\u5897\u52a0\u3057\u3066\u304a\u308a\u3001\u632f\u308c\u5e45\u306f\u3042\u308b\u3082\u306e\u306e\u843d\u3061\u7740\u3044\u305f\u63a8\u79fb\u3067\u3059\u3002<\/li>\n\n\n\n<li><strong>\u5b89\u5b9a\u6027<\/strong><br>\u81ea\u5df1\u8cc7\u672c\u6bd4\u738777.4\uff05\u3067\u9ad8\u6c34\u6e96\u3002\u8ca1\u52d9\u30ea\u30b9\u30af\u304c\u4f4e\u304f\u3001\u6709\u5229\u5b50\u8ca0\u50b5\u3082\u6e1b\u5c11\u50be\u5411\u3002\u5b89\u5b9a\u3057\u305f\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306b\u3088\u308a\u3001\u914d\u5f53\u4f59\u529b\u3082\u5341\u5206\u3067\u3059\u3002<\/li>\n\n\n\n<li><strong>\u6210\u9577\u6027<\/strong><br>\u58f2\u4e0a\u9ad8\u306f\u524d\u5e74\u540c\u671f\u6bd4\u3067\u62e1\u5927\u50be\u5411\u3001EPS\u3082\u5b89\u5b9a\u3057\u3066\u5897\u52a0\u3057\u3066\u304a\u308a\u3001\u5b89\u5b9a\u6210\u9577\u306b\u8fd1\u3044\u52d5\u304d\u3092\u793a\u3057\u3066\u3044\u307e\u3059\u3002<\/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\">\u914d\u5f53\u91d1\u63a8\u79fb\u3068\u5b89\u5168\u6027<\/h2>\n\n\n\n<p>\u77f3\u6cb9\u8cc7\u6e90\u958b\u767a\u306f\u682a\u4e3b\u9084\u5143\u306b\u7a4d\u6975\u7684\u3067\u3001\u914d\u5f53\u653f\u7b56\u306f\u7121\u7406\u306e\u306a\u3044\u6c34\u6e96\u3067\u884c\u308f\u308c\u3066\u3044\u307e\u3059\u3002\u904e\u53bb5\u5e74\u4ee5\u4e0a\u306e\u914d\u5f53\u63a8\u79fb\u306f\u4ee5\u4e0b\u306e\u901a\u308a\u3067\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u5e74\u5ea6<\/th><th>\u914d\u5f53\u91d1\uff08\u5186\uff09<\/th><\/tr><\/thead><tbody><tr><td>2020\u5e74<\/td><td>10<\/td><\/tr><tr><td>2021\u5e74<\/td><td>10<\/td><\/tr><tr><td>2022\u5e74<\/td><td>10<\/td><\/tr><tr><td>2023\u5e74<\/td><td>74<\/td><\/tr><tr><td>2024\u5e74<\/td><td>60<\/td><\/tr><tr><td>2025\u5e74<\/td><td>55<\/td><\/tr><tr><td>2026\u5e74\uff08\u4e88\u60f3\uff09<\/td><td>40<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><span class=\"st-mymarker-s-b\">\u914d\u5f53\u6027\u5411\u306f17.5\uff05\u3068\u4f4e\u304f\u3001\u5229\u76ca\u306b\u5bfe\u3057\u3066\u4f59\u88d5\u306e\u3042\u308b\u914d\u5f53\u6c34\u6e96<\/span>\u3067\u3059\u3002\u682a\u5f0f\u5206\u5272\u5f8c\u306e\u5b9f\u8cea\u914d\u5f53\u984d\u306f55\u5186\u76f8\u5f53\u304b\u308940\u5186\u306b\u6e1b\u5c11\u898b\u8fbc\u307f\u3067\u3059\u304c\u3001\u5c06\u6765\u7684\u306a\u5897\u914d\u4f59\u529b\u3092\u5341\u5206\u306b\u6b8b\u3057\u3066\u3044\u307e\u3059\u3002\u5229\u56de\u308a\u306f2.97\uff05\u3067\u5b89\u5b9a\u914d\u5f53\u682a\u3068\u3057\u3066\u306e\u9b45\u529b\u306f\u5065\u5728\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\">\u682a\u4fa1\u6307\u6a19\u3068\u6295\u8cc7\u9b45\u529b<\/h2>\n\n\n\n<p>2025\u5e7411\u6708\u6642\u70b9\u306e\u682a\u4fa1\u306f1,348\u5186\u3067\u3001PER 9.58\u500d\u3001PBR 0.64\u500d\u3068\u5272\u5b89\u611f\u304c\u3042\u308a\u307e\u3059\u3002\u9ad8\u3044ROE\u3068\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u3092\u80cc\u666f\u306b\u3001\u5272\u5b89\u304b\u3064\u5b89\u5b9a\u6027\u306e\u9ad8\u3044\u9298\u67c4\u3068\u3057\u3066\u6ce8\u76ee\u3067\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<pre class=\"wp-block-preformatted\">PER9.58\u500d \u2192 \u53ce\u76ca\u529b\u306b\u5bfe\u3057\u3066\u5272\u5b89<br><br>PBR0.64\u500d \u2192 \u8cc7\u7523\u4fa1\u5024\u306b\u5bfe\u3057\u3066\u5272\u5b89<br><br>\u5229\u56de\u308a2.97\uff05 \u2192 \u5b89\u5b9a\u914d\u5f53\u682a<br><br>ROE15.73\uff05 \u2192 \u9ad8\u3044\u682a\u4e3b\u5229\u76ca\u9084\u5143\u529b<\/pre>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\">\u77f3\u6cb9\u8cc7\u6e90\u958b\u767a\u306e\u5f37\u307f<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">1. \u5b89\u5b9a\u6027\u3068\u53ce\u76ca\u6027\u306e\u4e21\u7acb<\/h3>\n\n\n\n<p>\u81ea\u5df1\u8cc7\u672c\u6bd4\u738777\uff05\u8d85\u3001ROE 15\uff05\u53f0\u3068\u9ad8\u6c34\u6e96\u3067\u3001\u4fa1\u683c\u5909\u52d5\u30ea\u30b9\u30af\u306e\u3042\u308b\u8cc7\u6e90\u682a\u3068\u3057\u3066\u5b89\u5b9a\u611f\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2. \u4e2d\u671f\u7684\u306a\u6210\u9577\u6027<\/h3>\n\n\n\n<p>\u58f2\u4e0a\u9ad8\u30fbEPS\u306e\u5897\u52a0\u50be\u5411\u304c\u7d9a\u304d\u3001\u5b89\u5b9a\u6210\u9577\u682a\u3068\u3057\u3066\u306e\u9b45\u529b\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3. \u682a\u4e3b\u9084\u5143\u529b\u306e\u9ad8\u3055<\/h3>\n\n\n\n<p>\u914d\u5f53\u6027\u541117.5\uff05\u3068\u4f4e\u6c34\u6e96\u3067\u3001\u5c06\u6765\u7684\u306a\u5897\u914d\u4f59\u5730\u304c\u5341\u5206\u3002\u9577\u671f\u4fdd\u6709\u3067\u914d\u5f53\u53ce\u5165\u3092\u5f97\u3084\u3059\u3044\u70b9\u304c\u9b45\u529b\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">4. \u5272\u5b89\u306a\u682a\u4fa1\u6c34\u6e96<\/h3>\n\n\n\n<p>PER 9\u500d\u53f0\u3001PBR 0.64\u500d\u3067\u5e02\u5834\u5e73\u5747\u3088\u308a\u5272\u5b89\u3002\u8cc7\u7523\u4fa1\u5024\u30fb\u53ce\u76ca\u529b\u306b\u5bfe\u3057\u3066\u8cb7\u3044\u3084\u3059\u3044\u6c34\u6e96\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">5. \u8131\u70ad\u7d20\u30fb\u30b0\u30ea\u30fc\u30f3\u4e8b\u696d\u306e\u53d6\u308a\u7d44\u307f<\/h3>\n\n\n\n<p>\u30d0\u30a4\u30aa\u30de\u30b9\u767a\u96fb\u6240\u306e\u62e1\u5927\u3084\u74b0\u5883\u5bfe\u5fdc\u4e8b\u696d\u304c\u9032\u3093\u3067\u304a\u308a\u3001\u9577\u671f\u7684\u306a\u30ea\u30b9\u30af\u5206\u6563\u3068\u6210\u9577\u30c9\u30e9\u30a4\u30d0\u30fc\u3092\u517c\u306d\u5099\u3048\u3066\u3044\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\">\u4eca\u5f8c\u306e\u898b\u901a\u3057<\/h2>\n\n\n\n<p>2026\u5e743\u6708\u671f\u306f\u6e1b\u53ce\u6e1b\u76ca\u306e\u898b\u8fbc\u307f\u3067\u3059\u304c\u3001\u9577\u671f\u7684\u306b\u306f\u4ee5\u4e0b\u304c\u6ce8\u76ee\u70b9\u3067\u3059\u3002<\/p>\n\n\n\n<pre class=\"wp-block-preformatted\">\u30fb\u56fd\u5185\u5916\u306e\u30a8\u30cd\u30eb\u30ae\u30fc\u9700\u8981\u306e\u5b89\u5b9a<br><br>\u30fb\u5b89\u5b9a\u3057\u305f\u30a4\u30f3\u30d5\u30e9\u4e8b\u696d\u306b\u3088\u308b\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc<br><br>\u30fb\u9ad8\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u306b\u3088\u308b\u8ca1\u52d9\u5b89\u5b9a\u6027<br><br>\u30fb\u5272\u5b89\u306a\u682a\u4fa1\u6c34\u6e96<\/pre>\n\n\n\n<p>\u539f\u6cb9\u30fb\u5929\u7136\u30ac\u30b9\u4fa1\u683c\u5909\u52d5\u306e\u30ea\u30b9\u30af\u306f\u3042\u308a\u307e\u3059\u304c\u3001\u5b89\u5b9a\u914d\u5f53\u3068\u8ca1\u52d9\u306e\u5f37\u3055\u3001\u30b0\u30ea\u30fc\u30f3\u4e8b\u696d\u3078\u306e\u5bfe\u5fdc\u529b\u306f\u9577\u671f\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u9b45\u529b\u7684\u3067\u3059\u3002FIRE\u3084\u65e9\u671f\u30ea\u30bf\u30a4\u30a2\u3092\u76ee\u6307\u3059\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u3001\u5b89\u5b9a\u3057\u305f\u53ce\u5165\u6e90\u3068\u3057\u3066\u6709\u52b9\u306a\u9298\u67c4\u3068\u3044\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\">\u307e\u3068\u3081<\/h2>\n\n\n\n<p>\u77f3\u6cb9\u8cc7\u6e90\u958b\u767a\uff081662\uff09\u306f\u3001\u5b89\u5b9a\u6027\u30fb\u53ce\u76ca\u6027\u30fb\u6210\u9577\u6027\u3092\u517c\u306d\u5099\u3048\u3001\u682a\u4e3b\u9084\u5143\u3084\u74b0\u5883\u5bfe\u5fdc\u3082\u610f\u8b58\u3057\u305f\u9298\u67c4\u3067\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u904e\u53bb12\u56db\u534a\u671f\u3067\u696d\u7e3e\u6539\u5584\u50be\u5411<\/li>\n\n\n\n<li>\u914d\u5f53\u6027\u541117.5\uff05\u3001\u5229\u56de\u308a2.97\uff05\u306e\u5b89\u5b9a\u914d\u5f53<\/li>\n\n\n\n<li>PER9.58\u500d\u3001PBR0.64\u500d\u3067\u5272\u5b89<\/li>\n\n\n\n<li>\u30b0\u30ea\u30fc\u30f3\u4e8b\u696d\u306b\u3082\u7a4d\u6975\u7684\u3067\u9577\u671f\u6210\u9577\u304c\u671f\u5f85\u3067\u304d\u308b<\/li>\n<\/ul>\n\n\n\n<p>\u9577\u671f\u7684\u306a\u8cc7\u7523\u5f62\u6210\u3084FIRE\u3092\u76ee\u6307\u3059\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u3001\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u4e00\u89d2\u306b\u52a0\u3048\u308b\u4fa1\u5024\u306e\u3042\u308b\u9298\u67c4\u3067\u3059\u3002<\/p>\n\n\n\n<p><span class=\"st-mymarker-s-b\">\u95a2\u9023\u8a18\u4e8b<\/span><\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-fire wp-block-embed-fire\"><div class=\"wp-block-embed__wrapper\">\n<div><a href=\"https:\/\/soto-kouro.com\/?p=2181\" class=\"st-cardlink st-embed-cardlink\"><div class=\"kanren st-cardbox\"><dl class=\"clearfix\"><dt class=\"st-card-img\"><img decoding=\"async\" src=\"https:\/\/soto-kouro.com\/wp-content\/uploads\/2025\/11\/\u9ad8\u914d\u5f53\u682a\u306e\u7f60-1-150x150.png\" alt=\"\" width=\"100\" height=\"100\" \/><\/dt><dd><p class=\"st-cardbox-t\">ENEOS vs \u51fa\u5149\u8208\u7523\uff5c\u3069\u3063\u3061\u304c\u9577\u671f\u5411\u304d\uff1f\u914d\u5f53\u30fbPBR\u30fb\u9084\u5143\u6bd4\u8f03<\/p><div class=\"st-card-excerpt smanone\"><p>\u6295\u8cc7\u3092\u7d9a\u3051\u3066\u3044\u308b\u3068\u3001\u77ed\u671f\u7684\u306a\u5024\u52d5\u304d\u306b\u5de6\u53f3\u3055\u308c\u306a\u3044\u9577\u671f\u3067\u5b89\u5fc3\u3057\u3066\u6301\u3066\u308b\u9298\u67c4\u304c\u6b32\u3057\u304f\u306a\u308a\u307e\u3059\u3088\u306d\u3002\u7279\u306b\u3001FIRE\u3084\u65e9\u671f\u30ea\u30bf\u30a4\u30a2\u3092\u76ee\u6307\u3059\u4eba\u306b\u3068\u3063\u3066\u306f\u3001\u5b89\u5b9a\u3057\u305f\u914d\u5f53\u3084\u682a\u4e3b\u9084\u5143\u306e\u65b9\u91dd\u304c\u3001\u65e5\u3005\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092 &#8230; <\/p><\/div><\/dd><\/dl><\/div><\/a><\/div>\n<\/div><\/figure>\n\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-fire wp-block-embed-fire\"><div class=\"wp-block-embed__wrapper\">\n<div><a href=\"https:\/\/soto-kouro.com\/?p=2105\" class=\"st-cardlink st-embed-cardlink\"><div class=\"kanren st-cardbox\"><dl class=\"clearfix\"><dt class=\"st-card-img\"><img decoding=\"async\" src=\"https:\/\/soto-kouro.com\/wp-content\/uploads\/2025\/11\/\u30b9\u30bf\u30fc\u30c6\u30a3\u30a2\u30db\u30fc\u30eb\u30c7\u30a3\u30f3\u30b0\u30b9\uff083393\uff09-1-1-150x150.png\" alt=\"\" width=\"100\" height=\"100\" \/><\/dt><dd><p class=\"st-cardbox-t\">ENEOS\u306f\u306a\u305c\u4eba\u6c17\u306a\u306e\u304b\uff5c\u77f3\u6cb9\uff0b\u8131\u70ad\u7d20\u3067\u6210\u9577\u3059\u308b\u30a8\u30cd\u30eb\u30ae\u30fc\u5927\u624b\u306e\u9b45\u529b\u3092\u5fb9\u5e95\u89e3\u8aac<\/p><div class=\"st-card-excerpt smanone\"><p>FIRE\u30fb\u8cc7\u7523\u5f62\u6210\u3092\u5fd7\u3059\u6295\u8cc7\u5bb6\u304c\u3001\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306b\u7d44\u307f\u5165\u308c\u308b\u9298\u67c4\u3092\u9078\u3076\u3068\u304d\u306b\u91cd\u8996\u3059\u308b\u306e\u306f\u3001\u5b89\u5b9a\u611f\u30fb\u4e8b\u696d\u306e\u6301\u7d9a\u6027\u30fb\u682a\u4e3b\u9084\u5143\u306e\u4e00\u8cab\u6027\u3067\u306f\u306a\u3044\u3067\u3057\u3087\u3046\u304b\u3002\u65e5\u672c\u6700\u5927\u306e\u30a8\u30cd\u30eb\u30ae\u30fc\u4f01\u696d\u3092ENEOS\u30db\u30fc\u30eb\u30c7\u30a3\u30f3\u30b0\u30b9 &#8230; <\/p><\/div><\/dd><\/dl><\/div><\/a><\/div>\n<\/div><\/figure>\n\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-fire wp-block-embed-fire\"><div class=\"wp-block-embed__wrapper\">\n<div><a href=\"https:\/\/soto-kouro.com\/?p=907\" class=\"st-cardlink st-embed-cardlink\"><div class=\"kanren st-cardbox\"><dl class=\"clearfix\"><dt class=\"st-card-img\"><img decoding=\"async\" src=\"https:\/\/soto-kouro.com\/wp-content\/uploads\/2025\/09\/ETF\u306e-150x150.png\" alt=\"\" width=\"100\" height=\"100\" \/><\/dt><dd><p class=\"st-cardbox-t\">2026\u5e74NISA\u6210\u9577\u6295\u8cc7\u67a0\u306e\u304a\u3059\u3059\u3081\u9298\u67c4\uff5cETF\u306e\uff16\u3064\u306e\u30e1\u30ea\u30c3\u30c8<\/p><div class=\"st-card-excerpt smanone\"><p>\u4eca\u5e74\u306eNISA\u306e\u6210\u9577\u6295\u8cc7\u67a0\u306f\u3082\u3046\u4f7f\u3044\u5207\u308a\u307e\u3057\u305f\u304b\uff1f (\u79c1\u306f\u5e74\u521d\u306b\u306a\u308b\u3079\u304f\u65e9\u304f\u8cb7\u3044\u5207\u3063\u3066\u3057\u307e\u3046\u306e\u3067\u3001\u3082\u3046\u67a0\u306f\u6b8b\u3063\u3066\u3044\u307e\u305b\u3093\u2026\u3002) NISA\u306e\u67a0\u3092\u57cb\u3081\u308b\u306b\u3042\u305f\u3063\u3066\u3001\u300c\u4f55\u3092\u8cb7\u3048\u3070\u3044\u3044\u306e\u304b\u2026\u300d\u3068\u8ff7\u3046\u4eba\u3082\u591a\u3044\u3053 &#8230; <\/p><\/div><\/dd><\/dl><\/div><\/a><\/div>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>\u77f3\u6cb9\u8cc7\u6e90\u958b\u767a\u682a\u5f0f\u4f1a\u793e\uff08JAPEX\u3001\u8a3c\u5238\u30b3\u30fc\u30c91662\uff09\u306f\u3001\u65e5\u672c\u3092\u4ee3\u8868\u3059\u308b\u30a8\u30cd\u30eb\u30ae\u30fc\u4f01\u696d\u3067\u3001\u539f\u6cb9\u30fb\u5929\u7136\u30ac\u30b9\u306e\u63a2\u9271\u30fb\u958b\u767a\u30fb\u751f\u7523\uff08E\uff06P\u4e8b\u696d\uff09\u3092\u4e2d\u6838\u306b\u3001\u30a4\u30f3\u30d5\u30e9\u30fb\u30e6\u30fc\u30c6\u30a3\u30ea\u30c6\u30a3\u4e8b\u696d\u3084\u305d\u306e\u4ed6\u591a\u89d2\u7684\u4e8b\u696d\u3082\u5c55\u958b\u3057 &#8230; 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