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class=\"wp-block-list\">\n<li>\u306a\u305cPBR\u304c\u4f4e\u3044\u306e\u304b<\/li>\n\n\n\n<li>\u3069\u3046\u6539\u5584\u3059\u308b\u306e\u304b<\/li>\n\n\n\n<li>\u6570\u5024\u76ee\u6a19\u3092\u3069\u3046\u7f6e\u304f\u306e\u304b<\/li>\n<\/ul>\n\n\n\n<p>\u3092\u8aac\u660e\u3059\u308b\u3088\u3046\u306b\u306a\u308a\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u3053\u306e\u6d41\u308c\u3067\u518d\u8a55\u4fa1\u3055\u308c\u3084\u3059\u3044\u306e\u304c\u3001<strong>\u5185\u9700\u682a<\/strong>\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\">\u5b9f\u8cea\u8cc3\u91d1\u4e0a\u6607\u3068\u5185\u9700\u682a\u306e\u76f8\u6027<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">\u6d88\u8cbb\u56de\u5fa9\u306e\u6069\u6075\u3092\u6700\u3082\u53d7\u3051\u308b\u306e\u306f\u8ab0\u304b<\/h3>\n\n\n\n<p>2025\u5e74\u6642\u70b9\u3067\u306f\u3001\u5b9f\u8cea\u8cc3\u91d1\u306f\u307e\u3060\u4e0d\u5b89\u5b9a\u3067\u3059\u304c\u3001<br>\u6240\u5b9a\u5185\u7d66\u4e0e\u306f\u7740\u5b9f\u306b\u4e0a\u6607\u3057\u3066\u304a\u308a\u30012026\u5e74\u4ee5\u964d\u306e\u6539\u5584\u304c\u8996\u91ce\u306b\u5165\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u5b9f\u8cea\u8cc3\u91d1\u304c\u4e0a\u5411\u3051\u3070\u3001<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u56fd\u5185\u6d88\u8cbb\u306f\u7de9\u3084\u304b\u306b\u56de\u5fa9<\/li>\n\n\n\n<li>\u5024\u4e0a\u3052\u3092\u53d7\u3051\u5165\u308c\u308b\u4f59\u5730\u304c\u751f\u307e\u308c\u308b<\/li>\n\n\n\n<li>\u30b5\u30fc\u30d3\u30b9\u30fb\u30a4\u30f3\u30d5\u30e9\u30fb\u91d1\u878d\u306e\u53ce\u76ca\u304c\u5b89\u5b9a<\/li>\n<\/ul>\n\n\n\n<p>\u3068\u3044\u3063\u305f\u5faa\u74b0\u304c\u751f\u307e\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u3053\u306e\u6069\u6075\u3092\u76f4\u63a5\u53d7\u3051\u308b\u306e\u304c\u3001<strong>\u5185\u9700\u306b\u6839\u3056\u3057\u305f\u4f01\u696d<\/strong>\u3067\u3059\u3002<br>\u70ba\u66ff\u306b\u5de6\u53f3\u3055\u308c\u3084\u3059\u3044\u8f38\u51fa\u682a\u3068\u6bd4\u3079\u3001\u53ce\u76ca\u306e\u898b\u901a\u3057\u304c\u7acb\u3066\u3084\u3059\u3044\u70b9\u3082\u3001<br>\u9577\u671f\u6295\u8cc7\u30fbFIRE\u5c64\u306b\u3068\u3063\u3066\u306f\u5927\u304d\u306a\u9b45\u529b\u306b\u306a\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\">\u30a4\u30f3\u30d5\u30ec\u6642\u4ee3\u306b\u6ce8\u76ee\u3057\u305f\u3044\u5185\u9700\u682a\u306e\u6761\u4ef6<\/h2>\n\n\n\n<p>\u3053\u3053\u3067\u3001\u8131\u30c7\u30d5\u30ec\u74b0\u5883\u3067\u8a55\u4fa1\u3055\u308c\u3084\u3059\u3044\u5185\u9700\u682a\u306e\u7279\u5fb4\u3092\u6574\u7406\u3057\u3066\u304a\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u8996\u70b9<\/th><th>\u6ce8\u76ee\u30dd\u30a4\u30f3\u30c8<\/th><\/tr><\/thead><tbody><tr><td>\u53ce\u76ca\u6027<\/td><td>ROE\u304c\u4e2d\u9577\u671f\u3067\u6539\u5584\u50be\u5411\u306b\u3042\u308b<\/td><\/tr><tr><td>\u8cc7\u672c\u653f\u7b56<\/td><td>\u914d\u5f53\u30fb\u81ea\u793e\u682a\u8cb7\u3044\u3092\u660e\u78ba\u306b\u793a\u3057\u3066\u3044\u308b<\/td><\/tr><tr><td>\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3<\/td><td>PBR\u6539\u5584\u3092\u7d4c\u55b6\u76ee\u6a19\u306b\u7d44\u307f\u8fbc\u3093\u3067\u3044\u308b<\/td><\/tr><tr><td>\u30d3\u30b8\u30cd\u30b9<\/td><td>\u56fd\u5185\u9700\u8981\u306b\u4fa1\u683c\u8ee2\u5ac1\u3067\u304d\u308b\u529b\u304c\u3042\u308b<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>\u4e00\u6642\u7684\u306a\u30c6\u30fc\u30de\u682a\u3067\u306f\u306a\u304f\u3001<strong>\u69cb\u9020\u5909\u5316\u306e\u6069\u6075\u3092\u53d7\u3051\u7d9a\u3051\u308b\u4f01\u696d<\/strong>\u304b\u3069\u3046\u304b\u3092\u898b\u6975\u3081\u308b\u3053\u3068\u304c\u91cd\u8981\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u5185\u9700\u682a\u306e\u5177\u4f53\u4f8b\u3068\u9078\u5b9a\u30dd\u30a4\u30f3\u30c8<\/h3>\n\n\n\n<p>\u5185\u9700\u682a\u3092\u9078\u3076\u969b\u306f\u3001<span class=\"st-mymarker-s\">ROE\u5411\u4e0a\u3084PBR\u6539\u5584\u306e\u9032\u6357\u3092\u30c1\u30a7\u30c3\u30af\u3057\u3064\u3064\u3001\u5b9f\u8cea\u8cc3\u91d1\u4e0a\u6607\u306b\u3088\u308b\u6d88\u8cbb\u6ce2\u53ca\u3092\u8003\u616e<\/span>\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u4f8b\u3048\u3070\u3001\u65e5\u672c\u88fd\u9244\u306f\u7c97\u92fc\u751f\u7523\u306e\u56fd\u5185\u9996\u4f4d\u3067\u30012031\u5e74\u5229\u76ca1\u5146\u5186\u76ee\u6a19\u304c\u9b45\u529b\u3067\u3059\u3002\u4f0a\u85e4\u5fe0\u5546\u4e8b\u306f\u53ce\u76ca\u306e\u591a\u89d2\u5316\u304c\u9032\u307f\u30012026\u5e74\u7d14\u5229\u76ca\u6700\u9ad8\u66f4\u65b0\u306e\u898b\u8fbc\u307f\u3067\u3059\u3002\u3053\u3046\u3057\u305f\u9298\u67c4\u306f\u3001\u30a4\u30f3\u30d5\u30ec\u4e0b\u3067\u4fa1\u683c\u8ee2\u5ac1\u529b\u304c\u5f37\u304f\u3001\u682a\u4e3b\u9084\u5143\u3082\u7a4d\u6975\u7684\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u4ee5\u4e0b\u306b\u30012026\u5e74\u6709\u671b\u306a\u5185\u9700\u682a\u306e\u4f8b\u3092\u8868\u3067\u307e\u3068\u3081\u307e\u3057\u305f\u3002\u9078\u5b9a\u57fa\u6e96\u306f\u3001ROE10%\u4ee5\u4e0a\u3001PBR1\u500d\u4ee5\u4e0a\u3001\u682a\u4e3b\u9084\u5143\u5f37\u5316\u306e\u4f01\u696d\u3092\u4e2d\u5fc3\u306b\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><th>\u9298\u67c4\u540d<\/th><th>\u696d\u7a2e<\/th><th>ROE\uff082025\u5e74\u63a8\u5b9a\uff09<\/th><th>PBR\uff08\u73fe\u5728\uff09<\/th><th>\u7279\u5fb4<\/th><\/tr><tr><td>\u4f0a\u85e4\u5fe0\u5546\u4e8b<\/td><td>\u5546\u793e<\/td><td>15.2%<\/td><td>1.8\u500d<\/td><td>\u975e\u8cc7\u6e90\u5206\u91ce\u4e2d\u5fc3\u3001\u914d\u5f53\u6027\u541140%\u4ee5\u4e0a<\/td><\/tr><tr><td>\u65e5\u672c\u88fd\u9244<\/td><td>\u9244\u92fc<\/td><td>12.5%<\/td><td>1.2\u500d<\/td><td>\u5185\u9700\u4e2d\u5fc3\u306e\u751f\u7523\u62e1\u5927\u3001\u81ea\u793e\u682a\u8cb7\u3044\u7a4d\u6975<\/td><\/tr><tr><td>\u5343\u4ee3\u7530\u5316\u5de5\u5efa\u8a2d<\/td><td>\u5efa\u8a2d<\/td><td>188.95%<\/td><td>2.5\u500d<\/td><td>\u9ad8ROE\u3067\u52b9\u7387\u5316\u9032\u3080\u3001\u5185\u9700\u30a4\u30f3\u30d5\u30e9\u9700\u8981<\/td><\/tr><tr><td>\u5ddd\u5d0e\u6c7d\u8239<\/td><td>\u6d77\u904b<\/td><td>10.8%<\/td><td>1.5\u500d<\/td><td>DOE\u91cd\u8996\u306e\u9ad8\u914d\u5f53\u3001\u5185\u9700\u7269\u6d41\u5f37\u5316<\/td><\/tr><tr><td>\u30c6\u30af\u30de\u30c8\u30ea\u30c3\u30af\u30b9<\/td><td>IT<\/td><td>18.7%<\/td><td>2.1\u500d<\/td><td>DX\u95a2\u9023\u306e\u9ad8\u6210\u9577\u3001ROE\u6539\u5584+\u914d\u5f53\u6027\u541140%\u4ee5\u4e0b<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>\u3053\u308c\u3089\u306e\u9298\u67c4\u306f\u3001\u8131\u30c7\u30d5\u30ec\u306e\u6069\u6075\u3092\u6700\u5927\u9650\u306b\u53d7\u3051\u3084\u3059\u3044\u70b9\u304c\u5171\u901a\u3057\u3066\u3044\u307e\u3059\u304c\u3001\u6295\u8cc7\u306f\u500b\u5225\u30ea\u30b9\u30af\u3092\u8003\u616e\u3057\u3001\u5206\u6563\u3092\u5fc3\u304c\u3051\u3066\u304f\u3060\u3055\u3044\u306d\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\uff1a\u8131\u30c7\u30d5\u30ec\u306f\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u300c\u8ffd\u3044\u98a8\u300d\u3067\u3082\u3042\u308b<\/h2>\n\n\n\n<p>\u8131\u30c7\u30d5\u30ec\u65e5\u672c\u3067\u306f\u3001\u3069\u306e\u696d\u754c\u304c\u6210\u9577\u3059\u308b\u304b\u4ee5\u4e0a\u306b\u3001<strong>\u3069\u306e\u4f01\u696d\u304c\u8cc7\u672c\u3068\u771f\u5263\u306b\u5411\u304d\u5408\u3063\u3066\u3044\u308b\u304b<\/strong>\u304c\u554f\u308f\u308c\u308b\u6642\u4ee3\u306b\u306a\u308a\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u30a4\u30f3\u30d5\u30ec\u5bfe\u5fdc\u3001ROE\u5411\u4e0a\u3001\u682a\u4e3b\u9084\u5143\u3001PBR\u6539\u5584\u3002\u3053\u308c\u3089\u3092\u540c\u6642\u306b\u9032\u3081\u3089\u308c\u308b\u4f01\u696d\u306f\u591a\u304f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<p>\u3060\u304b\u3089\u3053\u305d\u3001\u5185\u9700\u682a\u306e\u4e2d\u306b\u3082\u3001\u3053\u308c\u304b\u3089\u8a55\u4fa1\u3092\u9ad8\u3081\u3066\u3044\u304f\u9298\u67c4\u304c\u6b8b\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u77ed\u671f\u7684\u306a\u5024\u52d5\u304d\u306b\u632f\u308a\u56de\u3055\u308c\u305a\u3001\u69cb\u9020\u5909\u5316\u306e\u672c\u8cea\u3092\u6349\u3048\u305f\u6295\u8cc7\u3092\u7d9a\u3051\u308b\u3053\u3068\u304c\u3001FIRE\u3084\u9577\u671f\u306e\u8cc7\u7523\u5f62\u6210\u306b\u304a\u3044\u3066\u3001\u4f55\u3088\u308a\u306e\u6b66\u5668\u306b\u306a\u308b\u306f\u305a\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u5e02\u5834\u304c\u5909\u308f\u308b\u3068\u304d\u3001\u52dd\u3061\u65b9\u3082\u307e\u305f\u5909\u308f\u308a\u307e\u3059\u3002\u305d\u306e\u5909\u5316\u306b\u3001\u5c11\u3057\u65e9\u3081\u306b\u6c17\u3065\u3051\u308b\u304b\u3069\u3046\u304b\u3002<br>\u4eca\u306f\u3001\u305d\u3093\u306a\u5206\u5c90\u70b9\u306b\u3042\u308b\u3088\u3046\u306b\u611f\u3058\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p><span class=\"sankou\">\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=2484\" 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\/12\/\u682a\u5f0f\u5206\u5272-4-150x150.png\" alt=\"\" width=\"100\" height=\"100\" \/><\/dt><dd><p class=\"st-cardbox-t\">\u4e09\u83f1\u5546\u4e8b vs \u4f0a\u85e4\u5fe0\u5546\u4e8b\uff5c\u7dcf\u5408\u5546\u793e2\u793e\u306e\u300c\u7a3c\u304e\u65b9\u306e\u9055\u3044\u300d\u3092\u6295\u8cc7\u5bb6\u76ee\u7dda\u3067\u6bd4\u8f03<\/p><div class=\"st-card-excerpt smanone\"><p>\u7dcf\u5408\u5546\u793e\u682a\u306f\u3001\u914d\u5f53\u30fb\u6210\u9577\u30fb\u5206\u6563\u52b9\u679c\u3092\u517c\u306d\u5099\u3048\u305f\u5b58\u5728\u3068\u3057\u3066\u3001\u9577\u671f\u6295\u8cc7\u5bb6\u3084FIRE\u5fd7\u5411\u306e\u500b\u4eba\u6295\u8cc7\u5bb6\u304b\u3089\u9ad8\u3044\u4eba\u6c17\u3092\u96c6\u3081\u3066\u3044\u307e\u3059\u3002\u305d\u306e\u4e2d\u3067\u3082\u3001\u4e09\u83f1\u5546\u4e8b\u3068\u4f0a\u85e4\u5fe0\u5546\u4e8b\u306f\u5e38\u306b\u6bd4\u8f03\u5bfe\u8c61\u306b\u6319\u3052\u3089\u308c\u308b\u4ee3\u8868\u7684\u306a2\u793e\u3067\u3001\u79c1\u3082 &#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=2633\" 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\/12\/\uff12\uff10\uff12\uff16\u5e74-150x150.png\" alt=\"\" width=\"100\" height=\"100\" \/><\/dt><dd><p class=\"st-cardbox-t\">2026\u5e74\u306e\u6210\u9577\u6295\u8cc7\u67a0\u3067\u4ed5\u8fbc\u307f\u305f\u304430\u9298\u67c4\uff5c\u65b0NISA\u3067\u9577\u671f\u6295\u8cc7\u3092\u8003\u3048\u308b<\/p><div class=\"st-card-excerpt smanone\"><p>\u65b0NISA\u304c\u59cb\u307e\u3063\u3066\u304b\u3089\u3001\u6295\u8cc7\u30b9\u30bf\u30a4\u30eb\u3092\u898b\u76f4\u3057\u305f\u3068\u3044\u3046\u65b9\u3082\u591a\u3044\u306e\u3067\u306f\u306a\u3044\u3067\u3057\u3087\u3046\u304b\u3002\u3068\u304f\u306b\u6210\u9577\u6295\u8cc7\u67a0\u306f\u3001\u9577\u671f\u3067\u4f01\u696d\u4fa1\u5024\u306e\u62e1\u5927\u3092\u53d6\u308a\u8fbc\u307f\u305f\u3044\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u3001\u975e\u5e38\u306b\u4f7f\u3044\u52dd\u624b\u306e\u3088\u3044\u5236\u5ea6\u3067\u3059\u3002 \u672c\u8a18\u4e8b\u3067\u306f\u30012 &#8230; <\/p><\/div><\/dd><\/dl><\/div><\/a><\/div>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>\u65e5\u672c\u682a\u6295\u8cc7\u3092\u7d9a\u3051\u3066\u3044\u308b\u3068\u3001\u3053\u3053\u6570\u5e74\u3067\u5e02\u5834\u306e\u7a7a\u6c17\u304c\u78ba\u5b9f\u306b\u5909\u308f\u3063\u305f\u3053\u3068\u306b\u6c17\u3065\u304f\u306f\u305a\u3067\u3059\u3002\u6210\u9577\u30b9\u30c8\u30fc\u30ea\u30fc\u3060\u3051\u3067\u306f\u8a55\u4fa1\u3055\u308c\u306b\u304f\u304f\u306a\u308a\u3001\u7a3c\u3050\u529b\u30fb\u9084\u5143\u3059\u308b\u59ff\u52e2\u30fb\u8cc7\u672c\u52b9\u7387\u304c\u3001\u3088\u308a\u53b3\u3057\u304f\u898b\u3089\u308c\u308b\u3088\u3046\u306b\u306a\u308a\u307e\u3057\u305f\u3002 \u80cc &#8230; 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