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class=\"wp-block-code\"><code>&#91;\u4e0d\u52d5\u7523\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306e\u4e3b\u8981\u30d7\u30ec\u30a4\u30e4\u30fc\u69cb\u9020]\n  \u2502\n  \u251c\u2500\u2500 \u2460 \u4e0d\u52d5\u7523\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u4f1a\u793e\uff08AM\uff09 \u2500\u2500 \u30d5\u30a1\u30f3\u30c9\u904b\u7528\u30fb\u6295\u8cc7\u6226\u7565\u306e\u7b56\u5b9a\n  \u251c\u2500\u2500 \u2461 \u4e0d\u52d5\u7523\u7cfb\u79c1\u52df\u30d5\u30a1\u30f3\u30c9\uff0f\u5916\u8cc7\u7cfbPE\u30d5\u30a1\u30f3\u30c9 \u2500 \u7a4d\u6975\u7684\u306a\u30ea\u30b9\u30af\u30c6\u30a4\u30af\u30fb\u9ad8\u30ea\u30bf\u30fc\u30f3\u8ffd\u6c42\n  \u251c\u2500\u2500 \u2462 J-REIT\uff08\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\uff09\u904b\u7528\u4f1a\u793e \u2500\u2500\u2500\u2500\u2500 \u4e0a\u5834\u30d5\u30a1\u30f3\u30c9\u306e\u5b89\u5b9a\u904b\u7528\u30fb\u958b\u793a\u696d\u52d9\n  \u251c\u2500\u2500 \u2463 \u91d1\u878d\u6a5f\u95a2\uff08\u4fe1\u8a17\u9280\u884c\u30fb\u8a3c\u5238\u30fb\u5546\u4e8b\uff09 \u2500\u2500\u2500\u2500\u2500 \u30d5\u30a1\u30f3\u30c9\u7d44\u6210\u30fb\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u8abf\u9054\u30fb\u30b2\u30fc\u30c8\u30a6\u30a7\u30a4\n  \u2514\u2500\u2500 \u2464 \u5927\u624b\u30c7\u30d9\u30ed\u30c3\u30d1\u30fc\uff0f\u4e8b\u696d\u4f1a\u793e\u306e\u8ca1\u52d9\u90e8\u9580 \u2500\u2500 \u81ea\u793e\u30a2\u30bb\u30c3\u30c8\u306e\u6d41\u52d5\u5316\u30fb\u8cc7\u91d1\u8abf\u9054\n<\/code><\/pre>\n\n\n\n<h3 class=\"wp-block-heading\">\u2460 \u4e0d\u52d5\u7523\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u4f1a\u793e\uff08AM\uff09<\/h3>\n\n\n\n<p>\u6295\u8cc7\u5bb6\uff08\u6a5f\u95a2\u6295\u8cc7\u5bb6\u3084\u5e74\u91d1\u57fa\u91d1\u306a\u3069\uff09\u304b\u3089\u96c6\u3081\u305f\u8cc7\u91d1\u3092\u3082\u3068\u306b\u3001\u4e0d\u52d5\u7523\u6295\u8cc7\u6226\u7565\u306e\u7b56\u5b9a\u3001\u7269\u4ef6\u306e\u53d6\u5f97\uff08\u30bd\u30fc\u30b7\u30f3\u30b0\uff09\u3001\u904b\u7528\u671f\u9593\u4e2d\u306e\u53ce\u76ca\u6700\u5927\u5316\uff08\u30d7\u30ed\u30d1\u30c6\u30a3\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u306e\u7d71\u62ec\uff09\u3001\u305d\u3057\u3066\u58f2\u5374\uff08\u30c7\u30a3\u30b9\u30dd\u30b8\u30b7\u30e7\u30f3\uff09\u306b\u3044\u305f\u308b\u307e\u3067\u306e\u4e00\u9023\u306e\u696d\u52d9\u3092\u884c\u3046\u4f1a\u793e\u3067\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u7279\u5fb4:<\/strong> \u5c11\u6570\u7cbe\u92ed\u306e\u7d44\u7e54\u304c\u591a\u304f\u3001\u4e00\u4eba\u3042\u305f\u308a\u306e\u904b\u7528\u8cc7\u7523\u6b8b\u9ad8\uff08AUM\uff09\u304c\u975e\u5e38\u306b\u5927\u304d\u3044\u3002<\/li>\n\n\n\n<li><strong>\u6c42\u4eba\u306e\u50be\u5411:<\/strong> \u7269\u4ef6\u4ed5\u5165\u308c\u3092\u62c5\u5f53\u3059\u308b\u300c\u30a2\u30af\u30a4\u30b8\u30b7\u30e7\u30f3\u300d\u3068\u3001\u904b\u7528\u30fb\u30d0\u30ea\u30e5\u30fc\u30a2\u30c3\u30d7\u3092\u62c5\u5f53\u3059\u308b\u300c\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u300d\u306b\u5206\u304b\u308c\u3066\u52df\u96c6\u3055\u308c\u308b\u30b1\u30fc\u30b9\u304c\u5927\u534a\u3067\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">\u2461 \u4e0d\u52d5\u7523\u7cfb\u79c1\u52df\u30d5\u30a1\u30f3\u30c9\uff0f\u5916\u8cc7\u7cfbPE\u30d5\u30a1\u30f3\u30c9<\/h3>\n\n\n\n<p>J-REIT\u306a\u3069\u306e\u516c\u958b\u30d5\u30a1\u30f3\u30c9\u3088\u308a\u3082\u9ad8\u3044\u30ea\u30bf\u30fc\u30f3\uff08IRR\uff09\u3092\u72d9\u3046\u975e\u516c\u958b\u306e\u30d5\u30a1\u30f3\u30c9\u3067\u3059\u3002\u30aa\u30d5\u30a3\u30b9\u306e\u30ea\u30ce\u30d9\u30fc\u30b7\u30e7\u30f3\u3084\u3001\u5546\u696d\u65bd\u8a2d\u306e\u518d\u751f\u3001\u6c11\u6cca\u30fb\u30db\u30c6\u30eb\u306e\u958b\u767a\u306a\u3069\u3001\u30ea\u30b9\u30af\u3092\u3068\u3063\u3066\u7269\u4ef6\u306e\u4fa1\u5024\u3092\u5287\u7684\u306b\u5f15\u304d\u4e0a\u3052\u308b\u300c\u30d0\u30ea\u30e5\u30fc\u30a2\u30c3\u30c9\u578b\u300d\u300c\u30aa\u30dd\u30c1\u30e5\u30cb\u30b9\u30c6\u30a3\u30c3\u30af\u578b\u300d\u306e\u6295\u8cc7\u3092\u884c\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u7279\u5fb4:<\/strong> \u5916\u8cc7\u7cfb\uff08\u30d6\u30e9\u30c3\u30af\u30b9\u30c8\u30fc\u30f3\u3084\u30b9\u30bf\u30fc\u30a6\u30c3\u30c9\u3001\u30e9\u30b5\u30fc\u30eb\u306a\u3069\uff09\u3084\u56fd\u5185\u72ec\u7acb\u7cfb\u30d5\u30a1\u30f3\u30c9\u304c\u4e2d\u5fc3\u3002\u6210\u679c\u4e3b\u7fa9\u304c\u5f37\u304f\u3001\u30a4\u30f3\u30bb\u30f3\u30c6\u30a3\u30d6\u6bd4\u7387\u304c\u6975\u3081\u3066\u9ad8\u3044\u3002<\/li>\n\n\n\n<li><strong>\u6c42\u4eba\u306e\u50be\u5411:<\/strong> \u9ad8\u3044\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u30e2\u30c7\u30ea\u30f3\u30b0\uff08LBO\u30e2\u30c7\u30eb\u306e\u5fdc\u7528\u3084DCF\u6cd5\u306b\u3088\u308b\u30b7\u30df\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\uff09\u306e\u30b9\u30ad\u30eb\u3068\u3001\u82f1\u8a9e\u529b\u304c\u6c42\u3081\u3089\u308c\u308b\u50be\u5411\u304c\u3042\u308a\u307e\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">\u2462 J-REIT\uff08\u4e0d\u52d5\u7523\u6295\u8cc7\u4fe1\u8a17\uff09\u904b\u7528\u4f1a\u793e<\/h3>\n\n\n\n<p>\u6771\u4eac\u8a3c\u5238\u53d6\u5f15\u6240\u306b\u4e0a\u5834\u3057\u3066\u3044\u308bJ-REIT\u306e\u6295\u8cc7\u6cd5\u4eba\u304b\u3089\u3001\u8cc7\u7523\u904b\u7528\u696d\u52d9\u3092\u59d4\u8a17\u3055\u308c\u3066\u3044\u308b\u904b\u7528\u4f1a\u793e\u3067\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u7279\u5fb4:<\/strong> \u30b9\u30dd\u30f3\u30b5\u30fc\uff08\u5927\u624b\u30c7\u30d9\u30ed\u30c3\u30d1\u30fc\u3001\u5546\u793e\u3001\u91d1\u878d\u6a5f\u95a2\u306a\u3069\uff09\u306e\u30d0\u30c3\u30af\u30dc\u30fc\u30f3\u304c\u3042\u308b\u30b1\u30fc\u30b9\u304c\u591a\u304f\u3001\u96c7\u7528\u74b0\u5883\u304c\u5b89\u5b9a\u3057\u3066\u3044\u308b\u50be\u5411\u306b\u3042\u308a\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u6c42\u4eba\u306e\u50be\u5411:<\/strong> 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\u30b9\u30c8\u30e9\u30af\u30c1\u30e3\u30fc\u30c9\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306e\u5c02\u9580\u8077\u3001\u4e0d\u52d5\u7523\u4fe1\u8a17\u53d7\u8a17\u696d\u52d9\u3001\u4e0d\u52d5\u7523\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u55b6\u696d\u306a\u3069\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u304c\u4e2d\u5fc3\u3067\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">\u2464 \u5927\u624b\u30c7\u30d9\u30ed\u30c3\u30d1\u30fc\u3084\u4e8b\u696d\u4f1a\u793e\u306e\u8ca1\u52d9\u30fb\u4e0d\u52d5\u7523\u6d41\u52d5\u5316\u90e8\u9580<\/h3>\n\n\n\n<p>\u81ea\u793e\u3067\u958b\u767a\u30fb\u4fdd\u6709\u3059\u308b\u30aa\u30d5\u30a3\u30b9\u30d3\u30eb\u3084\u5546\u696d\u65bd\u8a2d\u3001\u7269\u6d41\u65bd\u8a2d\u3092\u30d5\u30a1\u30f3\u30c9\u5316\uff08\u30aa\u30d5\u30d0\u30e9\u30f3\u30b9\u5316\uff09\u3057\u3066\u8cc7\u91d1\u3092\u56de\u53ce\u3057\u3001\u6b21\u306e\u958b\u767a\u8cc7\u91d1\u306b\u5145\u5f53\u3059\u308b\u3068\u3044\u3046\u30b5\u30a4\u30af\u30eb\u3092\u56de\u3059\u90e8\u9580\u3067\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u6c42\u4eba\u306e\u50be\u5411:<\/strong> \u300c\u4e0d\u52d5\u7523\u696d\u300d\u306e\u73fe\u5834\u611f\u899a\u3092\u6301\u3061\u306a\u304c\u3089\u3001\u300c\u91d1\u878d\u300d\u306e\u30ed\u30b8\u30c3\u30af\u3067\u793e\u5185\u3084\u6295\u8cc7\u5bb6\u3068\u4ea4\u6e09\u3067\u304d\u308b\u4eba\u6750\u304c\u52df\u96c6\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">3. \u4e0d\u52d5\u7523\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306b\u304a\u3051\u308b\u300c3\u5927\u4e3b\u8981\u8077\u7a2e\u300d\u3068\u696d\u52d9\u5185\u5bb9<\/h2>\n\n\n\n<p>\u30b3\u30c8\u30e9\u306b\u63b2\u8f09\u3055\u308c\u3066\u3044\u308b\u6c42\u4eba\u306e\u8077\u7a2e\u540d\u306f\u591a\u5c90\u306b\u308f\u305f\u308a\u307e\u3059\u304c\u3001\u672c\u8cea\u7684\u306b\u306f\u4ee5\u4e0b\u306e\u300c3\u3064\u306e\u30b3\u30a2\u8077\u7a2e\u300d\u306b\u96c6\u7d04\u3055\u308c\u307e\u3059\u3002\u305d\u308c\u305e\u308c\u306e\u5f79\u5272\u3001\u5177\u4f53\u7684\u306a\u696d\u52d9\u5185\u5bb9\u3001\u65e5\u5e38\u7684\u306a\u30bf\u30b9\u30af\u306b\u3064\u3044\u3066\u6df1\u304f\u6398\u308a\u4e0b\u3052\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u8077\u7a2e\u2460\uff1a\u30a2\u30af\u30a4\u30b8\u30b7\u30e7\u30f3\uff08\u6295\u8cc7\u958b\u767a\u30fb\u7269\u4ef6\u4ed5\u5165\u308c\uff09<\/h3>\n\n\n\n<p>\u30d5\u30a1\u30f3\u30c9\u306e\u6295\u8cc7\u57fa\u6e96\u306b\u5408\u81f4\u3059\u308b\u4e0d\u52d5\u7523\u7269\u4ef6\u3092\u898b\u3064\u3051\u51fa\u3057\u3001\u8cfc\u5165\u3059\u308b\u307e\u3067\u306e\u5168\u8cac\u4efb\u3092\u8ca0\u3046\u300c\u30d5\u30ed\u30f3\u30c8\uff08\u653b\u3081\uff09\u300d\u306e\u8077\u7a2e\u3067\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u5177\u4f53\u7684\u306a\u696d\u52d9\u5185\u5bb9:<\/strong>\n<ul class=\"wp-block-list\">\n<li><strong>\u30bd\u30fc\u30b7\u30f3\u30b0\uff08\u60c5\u5831\u53ce\u96c6\uff09:<\/strong> \u4fe1\u8a17\u9280\u884c\u3001\u4e0d\u52d5\u7523\u4ef2\u4ecb\u4f1a\u793e\u3001\u30c7\u30d9\u30ed\u30c3\u30d1\u30fc\u3001\u3042\u308b\u3044\u306f\u72ec\u81ea\u306e\u30cd\u30c3\u30c8\u30ef\u30fc\u30af\u304b\u3089\u3001\u307e\u3060\u4e16\u306b\u51fa\u3066\u3044\u306a\u3044\u300c\u6c34\u9762\u4e0b\u306e\u7269\u4ef6\u60c5\u5831\uff08\u30aa\u30d5\u30de\u30fc\u30b1\u30c3\u30c8\u60c5\u5831\uff09\u300d\u3092\u53ce\u96c6\u3057\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u30a2\u30f3\u30c0\u30fc\u30e9\u30a4\u30c6\u30a3\u30f3\u30b0\uff08\u6295\u8cc7\u521d\u671f\u5206\u6790\uff09:<\/strong> \u6301\u3061\u8fbc\u307e\u308c\u305f\u7269\u4ef6\u306e\u7acb\u5730\u3001\u7a3c\u50cd\u7387\u3001\u8cc3\u6599\u6c34\u6e96\u3001\u6cd5\u7684\u898f\u5236\u306a\u3069\u3092\u30b9\u30d4\u30fc\u30c7\u30a3\u306b\u78ba\u8a8d\u3057\u3001\u7c21\u6613\u7684\u306a\u53ce\u76ca\u30b7\u30df\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u3092\u884c\u3044\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u30c7\u30e5\u30fc\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\uff08\u8a73\u7d30\u8abf\u67fb\u306e\u7d71\u62ec\uff09:<\/strong> \u6295\u8cc7\u59d4\u54e1\u4f1a\u306b\u901a\u3059\u305f\u3081\u3001\u5efa\u7bc9\u30fb\u74b0\u5883\u306e\u5c02\u9580\u696d\u8005\u306b\u30a8\u30f3\u30b8\u30cb\u30a2\u30ea\u30f3\u30b0\u30ec\u30dd\u30fc\u30c8\u3092\u4f9d\u983c\u3057\u3001\u5f01\u8b77\u58eb\u306b\u30ea\u30fc\u30ac\u30eb\u30c1\u30a7\u30c3\u30af\u3092\u4f9d\u983c\u3057\u3001\u4e0d\u52d5\u7523\u9451\u5b9a\u58eb\u306b\u9451\u5b9a\u8a55\u4fa1\u3092\u4f9d\u983c\u3002\u3053\u308c\u3089\u3059\u3079\u3066\u306e\u8abf\u67fb\u3092\u53d6\u308a\u307e\u3068\u3081\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u5951\u7d04\u30fb\u30af\u30ed\u30fc\u30b8\u30f3\u30b0:<\/strong> \u58f2\u4e3b\u3068\u306e\u4fa1\u683c\u4ea4\u6e09\u3001\u58f2\u8cb7\u5951\u7d04\u66f8\u306e\u7de0\u7d50\u3001\u878d\u8cc7\uff08\u30c7\u30c3\u30c8\uff09\u306e\u8abf\u9054\u3001\u6c7a\u6e08\u307e\u3067\u3092\u5b9f\u52d9\u7684\u306b\u63a8\u9032\u3057\u307e\u3059\u3002<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>\u3053\u306e\u8077\u7a2e\u306e\u918d\u9190\u5473\u3068\u53b3\u3057\u3055:<\/strong>\u4f55\u767e\u4ef6\u3068\u3044\u3046\u7269\u4ef6\u60c5\u5831\u3092\u898b\u3066\u3082\u3001\u5b9f\u969b\u306b\u6210\u7d04\uff08\u30af\u30ed\u30fc\u30b8\u30f3\u30b0\uff09\u306b\u3044\u305f\u308b\u306e\u306f\u6570\u4ef6\u3068\u3044\u3046\u6975\u3081\u3066\u30bf\u30d5\u306a\u4e16\u754c\u3067\u3059\u3002\u3057\u304b\u3057\u3001\u6570\u5104\u301c\u6570\u767e\u5104\u5186\u3068\u3044\u3046\u5de8\u5927\u306a\u30a2\u30bb\u30c3\u30c8\u306e\u52d5\u304f\u30c0\u30a4\u30ca\u30df\u30ba\u30e0\u3092\u6700\u524d\u7dda\u3067\u4f53\u611f\u3067\u304d\u308b\u305f\u3081\u3001\u975e\u5e38\u306b\u4eba\u6c17\u304c\u9ad8\u3044\u8077\u7a2e\u3067\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">\u8077\u7a2e\u2461\uff1a\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\uff08AM\uff1a\u8cc7\u7523\u904b\u7528\u30fb\u30d0\u30ea\u30e5\u30fc\u30a2\u30c3\u30d7\uff09<\/h3>\n\n\n\n<p>\u30a2\u30af\u30a4\u30b8\u30b7\u30e7\u30f3\u304c\u8cfc\u5165\u3057\u305f\u7269\u4ef6\u306e\u5f15\u304d\u6e21\u3057\u3092\u53d7\u3051\u3001\u904b\u7528\u671f\u9593\u4e2d\u306e\u300c\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\uff08NOI\uff1a\u6b63\u5473\u55b6\u696d\u5229\u76ca\uff09\u306e\u6700\u5927\u5316\u300d\u3092\u56f3\u308b\u8077\u7a2e\u3067\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u5177\u4f53\u7684\u306a\u696d\u52d9\u5185\u5bb9:<\/strong>\n<ul class=\"wp-block-list\">\n<li><strong>\u30d3\u30b8\u30cd\u30b9\u30d7\u30e9\u30f3\u306e\u7b56\u5b9a\u30fb\u5b9f\u884c:<\/strong> \u7269\u4ef6\u3054\u3068\u306b\u300c\u3044\u3064\u3001\u3044\u304f\u3089\u3067\u3001\u3069\u306e\u3088\u3046\u306a\u4fee\u7e55\uff08\u30ea\u30ce\u30d9\u30fc\u30b7\u30e7\u30f3\uff09\u3092\u884c\u3044\u3001\u8cc3\u6599\u3092\u3044\u304f\u3089\u306b\u8a2d\u5b9a\u3059\u308b\u304b\u300d\u306e\u6226\u7565\uff08\u30d3\u30b8\u30cd\u30b9\u30d7\u30e9\u30f3\uff09\u3092\u7d44\u307f\u7acb\u3066\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u30d7\u30ed\u30d1\u30c6\u30a3\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\uff08PM\uff09\u4f1a\u793e\u306e\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb:<\/strong> \u65e5\u5e38\u306e\u30d3\u30eb\u7ba1\u7406\u3084\u30c6\u30ca\u30f3\u30c8\u5bfe\u5fdc\u3092\u884c\u3046PM\u4f1a\u793e\u306b\u5bfe\u3057\u3066\u3001\u5177\u4f53\u7684\u306a\u30ea\u30fc\u30b7\u30f3\u30b0\uff08\u30c6\u30ca\u30f3\u30c8\u8a98\u81f4\uff09\u65b9\u91dd\u3092\u6307\u793a\u3057\u3001\u9032\u6357\u3092\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u3057\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u30c6\u30ca\u30f3\u30c8\u4ea4\u6e09\u30fb\u30ea\u30fc\u30b7\u30f3\u30b0\u6226\u7565:<\/strong> \u5927\u53e3\u30c6\u30ca\u30f3\u30c8\u306e\u9000\u53bb\u304c\u767a\u751f\u3057\u305f\u969b\u3001\u901f\u3084\u304b\u306b\u6b21\u306e\u30c6\u30ca\u30f3\u30c8\u3092\u57cb\u3081\u308b\u305f\u3081\u306e\u30d5\u30ea\u30fc\u30ec\u30f3\u30c8\u671f\u9593\u306e\u4ea4\u6e09\u3084\u3001\u4ef2\u4ecb\u696d\u8005\u3078\u306e\u30a2\u30d7\u30ed\u30fc\u30c1\u3092\u884c\u3044\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u30ea\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\uff08\u501f\u5165\u91d1\u306e\u501f\u308a\u63db\u3048\uff09:<\/strong> \u878d\u8cc7\u306e\u5f01\u6e08\u671f\u304c\u8fd1\u3065\u3044\u305f\u969b\u3001\u3088\u308a\u6709\u5229\u306a\u91d1\u5229\u6761\u4ef6\u3067\u9280\u884c\u304b\u3089\u501f\u308a\u63db\u3048\u3092\u884c\u3046\u4ea4\u6e09\u3092\u8ca1\u52d9\u30c1\u30fc\u30e0\u3068\u9023\u643a\u3057\u3066\u9032\u3081\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u30c7\u30a3\u30b9\u30dd\u30b8\u30b7\u30e7\u30f3\uff08\u58f2\u5374\uff09:<\/strong> \u30d5\u30a1\u30f3\u30c9\u306e\u6e80\u671f\u3084\u5e02\u5834\u306e\u30d4\u30fc\u30af\u3092\u898b\u6975\u3081\u3001\u6700\u3082\u9ad8\u3044\u5229\u76ca\uff08\u30ad\u30e3\u30d4\u30bf\u30eb\u30b2\u30a4\u30f3\uff09\u3092\u51fa\u305b\u308b\u30bf\u30a4\u30df\u30f3\u30b0\u3067\u7269\u4ef6\u3092\u58f2\u5374\u3057\u307e\u3059\u3002<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>\u3053\u306e\u8077\u7a2e\u306e\u918d\u9190\u5473\u3068\u53b3\u3057\u3055:<\/strong>\u300c\u4e0d\u52d5\u7523\u306e\u4fa1\u5024\u3092\u9ad8\u3081\u308b\u300d\u3068\u3044\u3046\u672c\u8cea\u7684\u306a\u904b\u7528\u80fd\u529b\u304c\u8a66\u3055\u308c\u307e\u3059\u3002\u7a7a\u5ba4\u3060\u3089\u3051\u3060\u3063\u305f\u30d3\u30eb\u3092\u81ea\u5206\u306e\u30a2\u30a4\u30c7\u30a2\u3068\u30ea\u30fc\u30b7\u30f3\u30b0\u529b\u3067\u6e80\u5ba4\u306b\u3057\u3001NOI\u3092\u5411\u4e0a\u3055\u305b\u3066\u30d5\u30a1\u30f3\u30c9\u306e\u5229\u56de\u308a\u3092\u5f15\u304d\u4e0a\u3052\u305f\u3068\u304d\u306e\u9054\u6210\u611f\u306f\u683c\u5225\u3067\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">\u8077\u7a2e\u2462\uff1a\u30d7\u30ed\u30c0\u30af\u30c8\u30fb\u30b9\u30c8\u30e9\u30c6\u30b8\u30fc\uff0f\u8ca1\u52d9\u30fb\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30b8\u30e1\u30f3\u30c8<\/h3>\n\n\n\n<p>\u30d5\u30a1\u30f3\u30c9\u306e\u300c\u5668\u300d\u305d\u306e\u3082\u306e\u3092\u8a2d\u8a08\u30fb\u7ba1\u7406\u3057\u3001\u30c7\u30c3\u30c8\uff08\u878d\u8cc7\uff09\u3068\u30a8\u30af\u30a4\u30c6\u30a3\uff08\u6295\u8cc7\u5bb6\u8cc7\u91d1\uff09\u306e\u30d0\u30e9\u30f3\u30b9\u3092\u6700\u9069\u5316\u3059\u308b\u300c\u30d6\u30ec\u30a4\u30f3\u300d\u3068\u3057\u3066\u306e\u8077\u7a2e\u3067\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u5177\u4f53\u7684\u306a\u696d\u52d9\u5185\u5bb9:<\/strong>\n<ul class=\"wp-block-list\">\n<li><strong>\u30b9\u30c8\u30e9\u30af\u30c1\u30e3\u30ea\u30f3\u30b0:<\/strong> GK-TK\uff08\u5408\u540c\u4f1a\u793e\u30fb\u533f\u540d\u7d44\u5408\uff09\u30b9\u30ad\u30fc\u30e0\u3084\u3001TMK\uff08\u7279\u5b9a\u76ee\u7684\u4f1a\u793e\uff09\u30b9\u30ad\u30fc\u30e0\u306a\u3069\u3001\u7a0e\u52d9\u30fb\u6cd5\u52d9\u52b9\u7387\u304c\u6700\u3082\u9ad8\u304f\u306a\u308b\u3088\u3046\u306a\u30d5\u30a1\u30f3\u30c9\u306e\u6cd5\u7684\u30fb\u8ca1\u52d9\u7684\u9aa8\u7d44\u307f\u3092\u8a2d\u8a08\u3057\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u30a8\u30af\u30a4\u30c6\u30a3\u30fb\u30ec\u30a4\u30b8\u30f3\u30b0\uff08\u8cc7\u91d1\u8abf\u9054\uff09:<\/strong> \u56fd\u5185\u5916\u306e\u6a5f\u95a2\u6295\u8cc7\u5bb6\uff08\u5e74\u91d1\u3001\u5730\u9280\u3001\u6d77\u5916\u653f\u5e9c\u7cfb\u30d5\u30a1\u30f3\u30c9\u306a\u3069\uff09\u306b\u5bfe\u3057\u3066\u30d7\u30ec\u30bc\u30f3\u3092\u884c\u3044\u3001\u30d5\u30a1\u30f3\u30c9\u3078\u306e\u51fa\u8cc7\u3092\u53d6\u308a\u4ed8\u3051\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u30c7\u30c3\u30c8\u30fb\u30a2\u30ec\u30f3\u30b8\u30e1\u30f3\u30c8:<\/strong> \u30e1\u30ac\u30d0\u30f3\u30af\u3084\u4fe1\u8a17\u9280\u884c\u306e\u30b9\u30c8\u30e9\u30af\u30c1\u30e3\u30fc\u30c9\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u90e8\u9580\u3068\u30cd\u30b4\u30b7\u30a8\u30fc\u30b7\u30e7\u30f3\u3092\u884c\u3044\u3001\u30b7\u30cb\u30a2\u30ed\u30fc\u30f3\u3084\u30e1\u30b6\u30cb\u30f3\u30ed\u30fc\u30f3\u306e\u8abf\u9054\u6761\u4ef6\uff08\u91d1\u5229\u3001\u30b3\u30d9\u30ca\u30f3\u30c4\u3001LTV\u306a\u3069\uff09\u3092\u78ba\u5b9a\u3055\u305b\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u6295\u8cc7\u5bb6\u30ec\u30dd\u30fc\u30c8\uff08\u30ec\u30dd\u30fc\u30c6\u30a3\u30f3\u30b0\uff09:<\/strong> \u5b9a\u671f\u7684\u306b\u904b\u7528\u5b9f\u7e3e\u3084\u8ca1\u52d9\u72b6\u6cc1\u3092\u7cbe\u7dfb\u306b\u8a08\u7b97\u3057\u3001\u56fd\u5185\u5916\u306e\u6295\u8cc7\u5bb6\u5411\u3051\u306b\u82f1\u8a9e\u30fb\u65e5\u672c\u8a9e\u3067\u5831\u544a\u66f8\u3092\u4f5c\u6210\u30fb\u8aac\u660e\u3057\u307e\u3059\u3002<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>\u3053\u306e\u8077\u7a2e\u306e\u918d\u9190\u5473\u3068\u53b3\u3057\u3055:<\/strong>\u9ad8\u5ea6\u306a\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u7406\u8ad6\u3001\u7a0e\u52d9\u3001\u6cd5\u52d9\u3001\u4f1a\u8a08\u306e\u77e5\u8b58\u304c\u7dcf\u52d5\u54e1\u3055\u308c\u307e\u3059\u3002\u8907\u96d1\u306a\u30d1\u30ba\u30eb\u3092\u89e3\u304f\u3088\u3046\u306a\u77e5\u7684\u306a\u9762\u767d\u3055\u304c\u3042\u308a\u3001\u91d1\u878d\u30d0\u30c3\u30af\u30b0\u30e9\u30a6\u30f3\u30c9\u306e\u4eba\u6750\u304c\u6700\u3082\u80fd\u529b\u3092\u767a\u63ee\u3057\u3084\u3059\u3044\u9818\u57df\u3067\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">4. \u3010\u5e74\u53ce\u5e2f\u30fb\u7d66\u4e0e\u4f53\u7cfb\u5206\u6790\u3011\u30d9\u30fc\u30b9\u7d66\u3068\u30a4\u30f3\u30bb\u30f3\u30c6\u30a3\u30d6\u306e\u30ea\u30a2\u30eb<\/h2>\n\n\n\n<p>\u30b3\u30c8\u30e9\u306e\u6c42\u4eba\u6848\u4ef6\u3092\u8a73\u7d30\u306b\u898b\u3066\u3044\u304f\u3068\u3001\u4e0d\u52d5\u7523\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u9818\u57df\u306e\u5e74\u53ce\u30ec\u30f3\u30b8\u306f\u3001\u4ed6\u306e\u696d\u754c\uff08\u4e00\u822c\u7684\u306a\u30e1\u30fc\u30ab\u30fc\u3084IT\u306a\u3069\uff09\u306b\u6bd4\u3079\u3066<strong>\u660e\u78ba\u306b\u30d9\u30fc\u30b9\u6c34\u6e96\u304c\u9ad8\u3044<\/strong>\u3053\u3068\u304c\u5206\u304b\u308a\u307e\u3059\u3002\u307e\u305f\u3001\u6240\u5c5e\u3059\u308b\u4f01\u696d\u306e\u8cc7\u672c\u7cfb\u5217\uff08\u65e5\u7cfb\u30fb\u5916\u8cc7\u30fb\u72ec\u7acb\u7cfb\uff09\u306b\u3088\u3063\u3066\u3001\u7d66\u4e0e\u4f53\u7cfb\u306e\u69cb\u9020\u304c\u5927\u304d\u304f\u7570\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30bb\u30af\u30bf\u30fc\u5225\u30fb\u5f79\u8077\u5225\u306e\u5e74\u53ce\u30ec\u30f3\u30b8\u76ee\u5b89<\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><td><strong>\u5f79\u8077\u30fb\u30ec\u30a4\u30e4\u30fc<\/strong><\/td><td><strong>\u65e5\u7cfbAM \/ J-REIT\u904b\u7528\u4f1a\u793e<\/strong><\/td><td><strong>\u5916\u8cc7\u7cfbPE \/ \u72ec\u7acb\u7cfb\u30aa\u30dd\u30d5\u30a1\u30f3\u30c9<\/strong><\/td><td><strong>\u6c42\u3081\u3089\u308c\u308b\u76ee\u5b89\u7d4c\u9a13\u5e74\u6570<\/strong><\/td><\/tr><\/thead><tbody><tr><td><strong>\u30a2\u30ca\u30ea\u30b9\u30c8 \/ \u30b9\u30bf\u30c3\u30d5<\/strong><\/td><td>600\u4e07 \u301c 800\u4e07\u5186<\/td><td>800\u4e07 \u301c 1,200\u4e07\u5186<\/td><td>2\u301c5\u5e74\uff08\u7b2c\u4e8c\u65b0\u5352\u542b\u3080\uff09<\/td><\/tr><tr><td><strong>\u30a2\u30bd\u30b7\u30a8\u30a4\u30c8 \/ \u4e3b\u4efb<\/strong><\/td><td>800\u4e07 \u301c 1,100\u4e07\u5186<\/td><td>1,200\u4e07 \u301c 1,800\u4e07\u5186<\/td><td>5\u301c8\u5e74<\/td><\/tr><tr><td><strong>\u30de\u30cd\u30fc\u30b8\u30e3\u30fc \/ \u53c2\u4e8b<\/strong><\/td><td>1,100\u4e07 \u301c 1,500\u4e07\u5186<\/td><td>1,800\u4e07 \u301c 2,500\u4e07\u5186<\/td><td>8\u301c12\u5e74<\/td><\/tr><tr><td><strong>\u30c7\u30a3\u30ec\u30af\u30bf\u30fc \/ \u57f7\u884c\u5f79\u54e1<\/strong><\/td><td>1,500\u4e07 \u301c 2,500\u4e07\u5186+<\/td><td>2,500\u4e07\u5186 \u301c 5,000\u4e07\u5186+\uff08+\u30ad\u30e3\u30ea\u30fc\uff09<\/td><td>12\u5e74\u4ee5\u4e0a<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">\u65e5\u7cfb\u3068\u5916\u8cc7\u7cfb\u306b\u304a\u3051\u308b\u300c\u30a4\u30f3\u30bb\u30f3\u30c6\u30a3\u30d6\u69cb\u9020\u300d\u306e\u6c7a\u5b9a\u7684\u306a\u9055\u3044<\/h3>\n\n\n\n<h4 class=\"wp-block-heading\">\u65e5\u7cfb\u4f01\u696d\uff08\u30c7\u30d9\u30ed\u30c3\u30d1\u30fc\u7cfb\u30fb\u91d1\u878d\u7cfbAM\uff09<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u7279\u5fb4:<\/strong> \u7d66\u4e0e\u306e\u5927\u90e8\u5206\u304c\u300c\u30d9\u30fc\u30b9\u7d66\uff08\u57fa\u672c\u7d66\uff09\u300d\u3068\u300c\u56fa\u5b9a\u8cde\u4e0e\uff08\u307e\u305f\u306f\u696d\u7e3e\u9023\u52d5\u8cde\u4e0e\uff09\u300d\u3067\u69cb\u6210\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u30e1\u30ea\u30c3\u30c8:<\/strong> \u500b\u4eba\u306e\u6210\u7e3e\u3084\u30d5\u30a1\u30f3\u30c9\u306e\u5e02\u6cc1\u304c\u4e00\u6642\u7684\u306b\u60aa\u5316\u3057\u3066\u3082\u3001\u5e74\u53ce\u304c\u5927\u5e45\u306b\u30c0\u30a6\u30f3\u3059\u308b\u30ea\u30b9\u30af\u304c\u4f4e\u304f\u3001\u975e\u5e38\u306b\u5b89\u5b9a\u3057\u3066\u3044\u307e\u3059\u3002\u798f\u5229\u539a\u751f\uff08\u4f4f\u5b85\u624b\u5f53\u3001\u9000\u8077\u91d1\u5236\u5ea6\u306a\u3069\uff09\u304c\u624b\u539a\u3044\u30b1\u30fc\u30b9\u3082\u591a\u3044\u3067\u3059\u3002<\/li>\n\n\n\n<li><strong>\u30c7\u30e1\u30ea\u30c3\u30c8:<\/strong> \u30d5\u30a1\u30f3\u30c9\u304c\u6570\u767e\u5104\u5186\u306e\u83ab\u5927\u306a\u30ad\u30e3\u30d4\u30bf\u30eb\u30b2\u30a4\u30f3\u3092\u4e0a\u3052\u3066\u3082\u3001\u305d\u308c\u304c\u500b\u4eba\u306e\u30dc\u30fc\u30ca\u30b9\u306b\u30c0\u30a4\u30ec\u30af\u30c8\u306b\u6570\u5343\u4e07\u5186\u5358\u4f4d\u3067\u53cd\u6620\u3055\u308c\u308b\u3053\u3068\u306f\u7a00\u3067\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">\u5916\u8cc7\u7cfbPE\u30fb\u72ec\u7acb\u7cfb\u30aa\u30dd\u30c1\u30e5\u30cb\u30b9\u30c6\u30a3\u30c3\u30af\u30d5\u30a1\u30f3\u30c9<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u7279\u5fb4:<\/strong> \u300c\u30d9\u30fc\u30b9\u7d66 + \u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u30dc\u30fc\u30ca\u30b9\uff08\u696d\u7e3e\u9023\u52d5\uff09 + <strong>\u30ad\u30e3\u30ea\u30fc\uff08Carried Interest\uff09<\/strong>\u300d\u3068\u3044\u3046\u69cb\u9020\u3067\u3059\u3002<\/li>\n\n\n\n<li><strong>\u30ad\u30e3\u30ea\u30fc\uff08Carried Interest\uff09\u3068\u306f:<\/strong> \u30d5\u30a1\u30f3\u30c9\u304c\u6295\u8cc7\u5bb6\u306b\u5bfe\u3057\u3066\u3042\u3089\u304b\u3058\u3081\u7d04\u675f\u3057\u305f\u30cf\u30fc\u30c9\u30eb\u30ec\u30fc\u30c8\uff08\u76ee\u6a19\u5229\u56de\u308a\uff09\u3092\u8d85\u3048\u3066\u5229\u76ca\u3092\u51fa\u3057\u305f\u969b\u3001\u305d\u306e\u8d85\u904e\u5229\u76ca\u306e\u4e00\u5b9a\u5272\u5408\uff08\u4f8b\uff1a20%\uff09\u304c\u904b\u7528\u30c1\u30fc\u30e0\uff08\u500b\u4eba\uff09\u306b\u6210\u679c\u5831\u916c\u3068\u3057\u3066\u5206\u914d\u3055\u308c\u308b\u4ed5\u7d44\u307f\u3067\u3059\u3002<\/li>\n\n\n\n<li><strong>\u30e1\u30ea\u30c3\u30c8:<\/strong> \u81ea\u5206\u306e\u62c5\u5f53\u3057\u305f\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u304c\u6210\u529f\u3059\u308c\u3070\u30011\u5e74\u3067\u6570\u5343\u4e07\u5186\u3001\u3042\u308b\u3044\u306f\u5104\u5358\u4f4d\u306e\u5831\u916c\uff08\u4e00\u652b\u5343\u91d1\uff09\u3092\u5f97\u308b\u3053\u3068\u304c\u73fe\u5b9f\u7684\u306b\u53ef\u80fd\u3067\u3059\u3002<\/li>\n\n\n\n<li><strong>\u30c7\u30e1\u30ea\u30c3\u30c8:<\/strong> \u6210\u679c\u304c\u51fa\u306a\u3051\u308c\u3070\u3001\u7fcc\u5e74\u306e\u5951\u7d04\u66f4\u65b0\u304c\u306a\u3044\uff08\u30ec\u30a4\u30aa\u30d5\uff09\u3001\u3042\u308b\u3044\u306f\u30dc\u30fc\u30ca\u30b9\u304c\u30bc\u30ed\u306b\u306a\u308a\u30d9\u30fc\u30b9\u7d66\u306e\u307f\u306b\u306a\u308b\u3068\u3044\u3046\u300c\u30a2\u30c3\u30d7\u30b5\u30a4\u30c9\u3082\u30c0\u30a6\u30f3\u30b5\u30a4\u30c9\u3082\u6fc0\u3057\u3044\u300d\u74b0\u5883\u3067\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">5. \u4e0d\u52d5\u7523\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u8ee2\u8077\u3067\u8a55\u4fa1\u3055\u308c\u308b\u300c\u5fc5\u9808\u30fb\u6b53\u8fce\u30b9\u30ad\u30eb\u300d<\/h2>\n\n\n\n<p>\u4e0d\u52d5\u7523\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306e\u6c42\u4eba\u3067\u3001\u63a1\u7528\u4f01\u696d\u5074\u304c\u30ec\u30b8\u30e5\u30e1\uff08\u8077\u52d9\u7d4c\u6b74\u66f8\uff09\u3084\u9762\u63a5\u3067\u6700\u3082\u53b3\u3057\u304f\u30c1\u30a7\u30c3\u30af\u3059\u308b\u30dd\u30a4\u30f3\u30c8\u3092\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u2460 \u30c6\u30af\u30cb\u30ab\u30eb\u30b9\u30ad\u30eb\uff08\u5b9f\u52d9\u80fd\u529b\uff09<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u30a8\u30af\u30bb\u30eb\u30e2\u30c7\u30ea\u30f3\u30b0\uff08\u8ca1\u52d9\u30b7\u30df\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\uff09\u80fd\u529b:<\/strong>\u4e0d\u52d5\u7523\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306b\u304a\u3044\u3066\u3001Excel\u306f\u6700\u5f37\u306e\u6b66\u5668\u3067\u3059\u3002\u5358\u306b\u6570\u5f0f\u3092\u5165\u529b\u3067\u304d\u308b\u30ec\u30d9\u30eb\u3067\u306f\u306a\u304f\u3001\u300cDCF\uff08\u30c7\u30a3\u30b9\u30ab\u30a6\u30f3\u30c8\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\uff09\u30e2\u30c7\u30eb\u300d\u3092\u30bc\u30ed\u304b\u3089\u69cb\u7bc9\u3057\u3001\u30ec\u30d0\u30ec\u30c3\u30b8\uff08\u878d\u8cc7\uff09\u3092\u304b\u3051\u305f\u969b\u306e\u30a8\u30af\u30a4\u30c6\u30a3IRR\uff08\u5185\u90e8\u53ce\u76ca\u7387\uff09\u306e\u5909\u52d5\u3084\u3001LTV\uff08\u501f\u5165\u91d1\u6bd4\u7387\uff09\u306b\u5fdc\u3058\u305fDSCR\uff08\u8ca0\u50b5\u6255\u51fa\u30ab\u30d0\u30fc\u7387\uff09\u306e\u63a8\u79fb\u3092\u3001\u30b7\u30ca\u30ea\u30aa\u5225\uff08\u30b9\u30c8\u30ec\u30b9\u30b1\u30fc\u30b9\u3001\u30d9\u30fc\u30b9\u30b1\u30fc\u30b9\u306a\u3069\uff09\u306b\u5373\u5ea7\u306b\u30b7\u30df\u30e5\u30ec\u30fc\u30b7\u30e7\u30f3\u3067\u304d\u308b\u30b9\u30ad\u30eb\u304c\u5fc5\u9808\u3067\u3059\u3002<\/li>\n\n\n\n<li><strong>\u30c9\u30ad\u30e5\u30e1\u30f3\u30c6\u30fc\u30b7\u30e7\u30f3\u3068\u5951\u7d04\u89e3\u8aad\u529b:<\/strong>\u4e0d\u52d5\u7523\u58f2\u8cb7\u5951\u7d04\u66f8\uff08PSA\uff09\u3001\u533f\u540d\u7d44\u5408\u5951\u7d04\u66f8\u3001\u30ed\u30fc\u30f3\u30a2\u30b0\u30ea\u30fc\u30e1\u30f3\u30c8\uff08\u91d1\u92ad\u6d88\u8cbb\u8cb8\u501f\u5951\u7d04\u66f8\uff09\u306a\u3069\u306e\u81a8\u5927\u304b\u3064\u7dfb\u5bc6\u306a\u82f1\u6587\u30fb\u548c\u6587\u30c9\u30ad\u30e5\u30e1\u30f3\u30c8\u3092\u8aad\u307f\u89e3\u304d\u3001\u81ea\u793e\u306b\u3068\u3063\u3066\u306e\u30ea\u30b9\u30af\uff08\u8868\u660e\u4fdd\u8a3c\u306e\u7bc4\u56f2\u3001\u30b3\u30d9\u30ca\u30f3\u30c4\u306e\u6761\u4ef6\u306a\u3069\uff09\u3092\u7684\u78ba\u306b\u62bd\u51fa\u30fb\u4ea4\u6e09\u3059\u308b\u80fd\u529b\u3067\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">\u2461 \u8cc7\u683c\uff08\u30dd\u30fc\u30bf\u30d6\u30eb\u306a\u5c02\u9580\u6027\u306e\u8a3c\u660e\uff09<\/h3>\n\n\n\n<p>\u30b3\u30c8\u30e9\u30b8\u30e3\u30fc\u30ca\u30eb\u3067\u3082\u300c\u4e0d\u52d5\u7523\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u3067\u30ad\u30e3\u30ea\u30a2\u3092\u7bc9\u304f\u306a\u3089\u3001\u3069\u306e\u8cc7\u683c\u304c\u5fc5\u8981\u304b\uff1f\u300d\u3068\u3044\u3046\u30c6\u30fc\u30de\u306f\u5b9a\u756a\u3067\u3059\u3002\u7279\u306b\u4ee5\u4e0b\u306e3\u3064\u306e\u8cc7\u683c\u306f\u3001\u8ee2\u8077\u5e02\u5834\u306b\u304a\u3044\u3066\u7d76\u5927\u306a\u30b7\u30b0\u30ca\u30ea\u30f3\u30b0\u52b9\u679c\uff08\u5c02\u9580\u6027\u306e\u8a3c\u660e\uff09\u3092\u6301\u3061\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u5b85\u5730\u5efa\u7269\u53d6\u5f15\u58eb\uff08\u5b85\u5efa\uff09:<\/strong>\u4e0d\u52d5\u7523\u3092\u6271\u3046\u4e0a\u3067\u306e\u300c\u30d1\u30b9\u30dd\u30fc\u30c8\u300d\u3067\u3059\u3002\u91d1\u878d\u51fa\u8eab\u8005\u3067\u3042\u3063\u3066\u3082\u3001\u4e0d\u52d5\u7523\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306b\u8eab\u3092\u7f6e\u304f\u4ee5\u4e0a\u3001\u5b85\u5efa\u3092\u6301\u3063\u3066\u3044\u306a\u3044\u3068\u300c\u672c\u6c17\u5ea6\u300d\u3092\u7591\u308f\u308c\u308b\u30b1\u30fc\u30b9\u304c\u3042\u308a\u307e\u3059\u3002\u6c42\u4eba\u306e\u5fc5\u9808\u8981\u4ef6\u306b\u306a\u3063\u3066\u3044\u308b\u3053\u3068\u3082\u591a\u3044\u3067\u3059\u3002<\/li>\n\n\n\n<li><strong>\u4e0d\u52d5\u7523\u8a3c\u5238\u5316\u30de\u30b9\u30bf\u30fc\uff08ARES Certified Master\uff09:<\/strong>\u516c\u76ca\u793e\u56e3\u6cd5\u4eba\u4e0d\u52d5\u7523\u8a3c\u5238\u5316\u5354\u4f1a\u304c\u8a8d\u5b9a\u3059\u308b\u3001\u307e\u3055\u306b<strong>\u3053\u306e\u696d\u754c\u306e\u30c7\u30d5\u30a1\u30af\u30c8\u30b9\u30bf\u30f3\u30c0\u30fc\u30c9\uff08\u6a19\u6e96\uff09\u8cc7\u683c<\/strong>\u3067\u3059\u3002\u4e0d\u52d5\u7523\u306e\u77e5\u8b58\u3068\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306e\u77e5\u8b58\u304c\u4f53\u7cfb\u7684\u306b\u7db2\u7f85\u3055\u308c\u3066\u304a\u308a\u3001\u3053\u306e\u8cc7\u683c\u3092\u6301\u3063\u3066\u3044\u308b\u3060\u3051\u3067\u300c\u5b9f\u52d9\u306e\u57fa\u790e\u5171\u901a\u8a00\u8a9e\u304c\u901a\u3058\u308b\u76f8\u624b\u300d\u3068\u3057\u3066\u3001\u66f8\u985e\u9078\u8003\u306e\u901a\u904e\u7387\u304c\u8df3\u306d\u4e0a\u304c\u308a\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>\u4e0d\u52d5\u7523\u9451\u5b9a\u58eb \/ CMA\uff08\u65e5\u672c\u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c8\u5354\u4f1a\u8a8d\u5b9a\u30a2\u30ca\u30ea\u30b9\u30c8\uff09:<\/strong>\n<ul class=\"wp-block-list\">\n<li><strong>\u4e0d\u52d5\u7523\u9451\u5b9a\u58eb:<\/strong> \u7269\u4ef6\u8a55\u4fa1\u30fb\u30c7\u30e5\u30fc\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u306e\u6700\u9ad8\u5cf0\u8cc7\u683c\u3002\u30a2\u30af\u30a4\u30b8\u30b7\u30e7\u30f3\u3084\u30a2\u30f3\u30c0\u30fc\u30e9\u30a4\u30c6\u30a3\u30f3\u30b0\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u3067\u795e\u304c\u304b\u3063\u305f\u5f37\u3055\u3092\u767a\u63ee\u3057\u307e\u3059\u3002<\/li>\n\n\n\n<li><strong>CMA\uff08\u8a3c\u5238\u30a2\u30ca\u30ea\u30b9\u30c8\uff09:<\/strong> \u91d1\u878d\u7406\u8ad6\u3084\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u306e\u8a3c\u660e\u3002J-REIT\u306e\u8ca1\u52d9\u3084IR\u3001\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u3067\u9ad8\u304f\u8a55\u4fa1\u3055\u308c\u307e\u3059\u3002<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">\u2462 \u8a9e\u5b66\u529b\uff08\u30b0\u30ed\u30fc\u30d0\u30eb\u5bfe\u5fdc\uff09<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u82f1\u8a9e\u529b\uff08TOEIC 800\u70b9\u4ee5\u4e0a\u3001\u3042\u308b\u3044\u306f\u30d3\u30b8\u30cd\u30b9\u6d41\u66a2\uff09:<\/strong>\u5916\u8cc7\u7cfb\u30d5\u30a1\u30f3\u30c9\u306f\u3082\u3061\u308d\u3093\u3001\u65e5\u7cfb\u306eAM\u4f1a\u793e\u3067\u3042\u3063\u3066\u3082\u3001\u51fa\u8cc7\u8005\uff08LP\u6295\u8cc7\u5bb6\uff09\u304c\u6d77\u5916\u306e\u5e74\u91d1\u57fa\u91d1\u3067\u3042\u308b\u30b1\u30fc\u30b9\u304c\u5897\u3048\u3066\u3044\u307e\u3059\u3002\u82f1\u6587\u3067\u306e\u30ec\u30dd\u30fc\u30c6\u30a3\u30f3\u30b0\u3001\u6d77\u5916\u6295\u8cc7\u5bb6\u304b\u3089\u306e\u82f1\u8a9e\u306e\u8cea\u554f\u3078\u306e\u56de\u7b54\uff08Q&amp;A\uff09\u3001\u82f1\u6587\u5951\u7d04\u66f8\u306e\u30ec\u30d3\u30e5\u30fc\u304c\u3067\u304d\u308b\u4eba\u6750\u306f\u3001\u305d\u308c\u3060\u3051\u3067\u5e74\u53ce\u30ec\u30f3\u30b8\u304c1\u301c2\u6bb5\u968e\u4e0a\u304c\u308a\u307e\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">6. \u3010\u30b1\u30fc\u30b9\u5225\u3011\u4e0d\u52d5\u7523\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u3078\u306e\u8ee2\u8077\u6210\u529f\u30eb\u30fc\u30c8<\/h2>\n\n\n\n<p>\u300c\u81ea\u5206\u306f\u4e0d\u52d5\u7523\u306e\u7d4c\u9a13\u3057\u304b\u306a\u3044\u304c\u3001\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306b\u884c\u3051\u308b\u306e\u304b\uff1f\u300d\u300c\u7d14\u7c8b\u306a\u91d1\u878d\u30de\u30f3\u3060\u304c\u3001\u4e0d\u52d5\u7523\u306e\u4e16\u754c\u3067\u901a\u7528\u3059\u308b\u306e\u304b\uff1f\u300d<\/p>\n\n\n\n<p>\u30b3\u30c8\u30e9\u306e\u6210\u7d04\u4e8b\u4f8b\u304b\u3089\u3001\u3088\u304f\u3042\u308b\u300c4\u3064\u306e\u6210\u529f\u30d1\u30bf\u30fc\u30f3\u300d\u3092\u5206\u6790\u3057\u3001\u305d\u308c\u305e\u308c\u306e\u52dd\u3061\u7b4b\uff08\u30a2\u30d4\u30fc\u30eb\u30dd\u30a4\u30f3\u30c8\uff09\u3092\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u30d1\u30bf\u30fc\u30f3A\uff1a\u3010\u91d1\u878d\u304b\u3089\u4e0d\u52d5\u7523\u3078\u3011\u9280\u884c\u30fb\u8a3c\u5238\u51fa\u8eab\u8005\u306e\u6311\u6226<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e3b\u306a\u524d\u8077:<\/strong> \u30e1\u30ac\u30d0\u30f3\u30af\u30fb\u5730\u65b9\u9280\u884c\u306e\u6cd5\u4eba\u55b6\u696d\uff08\u30b9\u30c8\u30e9\u30af\u30c1\u30e3\u30fc\u30c9\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u3084\u4e0d\u52d5\u7523\u878d\u8cc7\u62c5\u5f53\uff09\u3001\u8a3c\u5238\u4f1a\u793e\u306e\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u3002<\/li>\n\n\n\n<li><strong>\u4f01\u696d\u304c\u8a55\u4fa1\u3059\u308b\u30dd\u30a4\u30f3\u30c8:<\/strong> \u8ca1\u52d9\u8af8\u8868\u306e\u5206\u6790\u529b\u3001\u30c7\u30c3\u30c8\uff08\u878d\u8cc7\uff09\u306e\u4ed5\u7d44\u307f\u3078\u306e\u6df1\u3044\u7406\u89e3\u3001\u30b3\u30f3\u30d7\u30e9\u30a4\u30a2\u30f3\u30b9\u610f\u8b58\u3001\u30cf\u30fc\u30c9\u306a\u4ea4\u6e09\u3078\u306e\u8010\u6027\u3002<\/li>\n\n\n\n<li><strong>\u8ee2\u8077\u6210\u529f\u306e\u9375\uff08\u52dd\u3061\u7b4b\uff09:<\/strong>\u9280\u884c\u54e1\u3068\u3057\u3066\u306e\u300c\u878d\u8cc7\u306e\u5be9\u67fb\u76ee\u7dda\u300d\u306f\u3001\u30d5\u30a1\u30f3\u30c9\u5074\u304b\u3089\u3059\u308b\u3068\u300c\u3069\u3046\u3059\u308c\u3070\u9280\u884c\u304b\u3089\u597d\u6761\u4ef6\u3067\u91d1\u3092\u501f\u308a\u3089\u308c\u308b\u304b\u300d\u3068\u3044\u3046\u88cf\u8fd4\u3057\u306e\u30ce\u30a6\u30cf\u30a6\u306b\u306a\u308a\u307e\u3059\u3002\u9762\u63a5\u3067\u306f\u300c\u5358\u306b\u878d\u8cc7\u306e\u5b9f\u884c\uff08\u30c7\u30c3\u30c8\u306e\u63d0\u4f9b\uff09\u5074\u306b\u3068\u3069\u307e\u3089\u305a\u3001\u81ea\u3089\u30ea\u30b9\u30af\u30c6\u30a4\u30af\u3057\u3066\u30ea\u30bf\u30fc\u30f3\u3092\u6700\u5927\u5316\u3059\u308b\u30a8\u30af\u30a4\u30c6\u30a3\uff08\u6295\u8cc7\uff09\u306e\u5074\u3067\u610f\u601d\u6c7a\u5b9a\u3092\u3057\u305f\u3044\u300d\u3068\u3044\u3046\u60c5\u71b1\u3092\u4f1d\u3048\u308b\u3053\u3068\u304c\u91cd\u8981\u3067\u3059\u3002\u307e\u305f\u3001\u8ee2\u8077\u6d3b\u52d5\u524d\u306b\u300c\u5b85\u5efa\u300d\u3084\u300c\u4e0d\u52d5\u7523\u8a3c\u5238\u5316\u30de\u30b9\u30bf\u30fc\u300d\u306e\u52c9\u5f37\u3092\u958b\u59cb\u3057\u3066\u3044\u308b\u3053\u3068\u3092\u30a2\u30d4\u30fc\u30eb\u3059\u308b\u3068\u3001\u4e0d\u52d5\u7523\u3078\u306e\u672c\u6c17\u5ea6\u304c\u4f1d\u308f\u308a\u307e\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">\u30d1\u30bf\u30fc\u30f3B\uff1a\u3010\u4e0d\u52d5\u7523\u304b\u3089\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u3078\u3011\u58f2\u8cb7\u4ef2\u4ecb\u30fb\u30c7\u30d9\u30ed\u30c3\u30d1\u30fc\u51fa\u8eab\u8005\u306e\u6311\u6226<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e3b\u306a\u524d\u8077:<\/strong> \u5927\u624b\u4e0d\u52d5\u7523\u4ef2\u4ecb\u4f1a\u793e\uff08\u6cd5\u4eba\u55b6\u696d\uff09\u3001\u30cf\u30a6\u30b9\u30e1\u30fc\u30ab\u30fc\u30fb\u30c7\u30d9\u30ed\u30c3\u30d1\u30fc\u306e\u7528\u5730\u4ed5\u5165\u308c\u3002<\/li>\n\n\n\n<li><strong>\u4f01\u696d\u304c\u8a55\u4fa1\u3059\u308b\u30dd\u30a4\u30f3\u30c8:<\/strong> \u751f\u306e\u4e0d\u52d5\u7523\u60c5\u5831\uff08\u571f\u5730\u30fb\u7269\u4ef6\uff09\u3092\u6ce5\u81ed\u304f\u5f15\u3063\u5f35\u3063\u3066\u304f\u308b\u300c\u30bd\u30fc\u30b7\u30f3\u30b0\u529b\u300d\u3001\u5730\u4e3b\u3084\u4ef2\u4ecb\u696d\u8005\u3068\u306e\u5f37\u56fa\u306a\u4eba\u9593\u95a2\u4fc2\u3001\u7269\u4ef6\u306e\u7269\u7406\u7684\u30fb\u6cd5\u7684\u306a\u76ee\u5229\u304d\u529b\u3002<\/li>\n\n\n\n<li><strong>\u8ee2\u8077\u6210\u529f\u306e\u9375\uff08\u52dd\u3061\u7b4b\uff09:<\/strong>\u30d5\u30a1\u30f3\u30c9\u30d3\u30b8\u30cd\u30b9\u306e\u6e90\u6cc9\u306f\u300c\u826f\u3044\u7269\u4ef6\u3092\u3001\u3044\u304b\u306b\u4ed6\u793e\u3088\u308a\u65e9\u304f\u3001\u5b89\u304f\u4ed5\u5165\u308c\u3089\u308c\u308b\u304b\uff08\u30bd\u30fc\u30b7\u30f3\u30b0\uff09\u300d\u306b\u3042\u308a\u307e\u3059\u3002\u3044\u304f\u3089\u30a8\u30af\u30bb\u30eb\u3067\u7dba\u9e97\u306a\u30e2\u30c7\u30eb\u304c\u4f5c\u308c\u3066\u3082\u3001\u7269\u4ef6\u60c5\u5831\u304c\u5165\u3063\u3066\u3053\u306a\u3051\u308c\u3070\u30d5\u30a1\u30f3\u30c9\u306f\u6a5f\u80fd\u3057\u307e\u305b\u3093\u3002\u305d\u306e\u305f\u3081\u3001\u6ce5\u81ed\u3044\u55b6\u696d\u529b\u3084\u4ef2\u4ecb\u30cd\u30c3\u30c8\u30ef\u30fc\u30af\u3092\u6301\u3064\u4eba\u6750\u306f\u3001\u30a2\u30af\u30a4\u30b8\u30b7\u30e7\u30f3\u8077\u3068\u3057\u3066\u6975\u3081\u3066\u91cd\u5b9d\u3055\u308c\u307e\u3059\u3002\u9762\u63a5\u3067\u306f\u300c\u81ea\u5206\u304c\u904e\u53bb\u306b\u958b\u62d3\u3057\u305f\u30cd\u30c3\u30c8\u30ef\u30fc\u30af\u306e\u8cea\u300d\u3092\u5177\u4f53\u7684\u306b\u30a2\u30d4\u30fc\u30eb\u3057\u3064\u3064\u3001DCF\u6cd5\u306a\u3069\u306e\u57fa\u672c\u7684\u306a\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u7406\u8ad6\u3092\u30ad\u30e3\u30c3\u30c1\u30a2\u30c3\u30d7\u3059\u308b\u59ff\u52e2\u3092\u793a\u3059\u3053\u3068\u304c\u5185\u5b9a\u306e\u9375\u3067\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">\u30d1\u30bf\u30fc\u30f3C\uff1a\u3010\u5c02\u9580\u8077\u306e\u6a2a\u79fb\u52d5\u3011PM\uff08\u30d7\u30ed\u30d1\u30c6\u30a3\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\uff09\u304b\u3089AM\uff08\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\uff09\u3078\u306e\u30b9\u30c6\u30c3\u30d7\u30a2\u30c3\u30d7<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e3b\u306a\u524d\u8077:<\/strong> \u5927\u624bPM\u4f1a\u793e\uff08\u4e09\u4e95\u4e0d\u52d5\u7523\u30d7\u30ed\u30d1\u30c6\u30a3\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u3001\u4e09\u83f1\u5730\u6240\u30d7\u30ed\u30d1\u30c6\u30a3\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u306a\u3069\uff09\u306e\u30aa\u30d5\u30a3\u30b9\u30fb\u5546\u696d\u904b\u55b6\u7ba1\u7406\u3002<\/li>\n\n\n\n<li><strong>\u4f01\u696d\u304c\u8a55\u4fa1\u3059\u308b\u30dd\u30a4\u30f3\u30c8:<\/strong> \u73fe\u5834\u306e\u30ea\u30fc\u30b7\u30f3\u30b0\uff08\u30c6\u30ca\u30f3\u30c8\u8a98\u81f4\uff09\u306e\u30ea\u30a2\u30eb\u306a\u52d8\u6240\u3001\u5de5\u4e8b\u8cbb\u30fb\u4fee\u7e55\u8cbb\u306e\u9069\u6b63\u30b3\u30b9\u30c8\u611f\u3001\u30d3\u30eb\u30e1\u30f3\u30c6\u30ca\u30f3\u30b9\u306b\u95a2\u3059\u308b\u5b9f\u52d9\u77e5\u8b58\u3002<\/li>\n\n\n\n<li><strong>\u8ee2\u8077\u6210\u529f\u306e\u9375\uff08\u52dd\u3061\u7b4b\uff09:<\/strong>PM\u304b\u3089AM\u3078\u306e\u30b9\u30c6\u30c3\u30d7\u30a2\u30c3\u30d7\u306f\u3001\u30ad\u30e3\u30ea\u30a2\u30a2\u30c3\u30d7\u306e\u738b\u9053\u30eb\u30fc\u30c8\u306e\u4e00\u3064\u3067\u3059\u3002AM\u4f1a\u793e\u306b\u3068\u3063\u3066\u3001\u73fe\u5834\uff08PM\uff09\u304c\u4f55\u3092\u8003\u3048\u3066\u52d5\u3044\u3066\u3044\u308b\u304b\u3092\u719f\u77e5\u3057\u3066\u3044\u308b\u4eba\u6750\u306f\u3001\u6975\u3081\u3066\u7684\u78ba\u306a\u6307\u793a\u304c\u51fa\u305b\u308b\u305f\u3081\u5fc3\u5f37\u3044\u5b58\u5728\u3067\u3059\u3002\u30a2\u30d4\u30fc\u30eb\u3059\u3079\u304d\u306f\u300c\u5358\u306b\u30d3\u30eb\u306e\u7ba1\u7406\u7dad\u6301\uff08\u30aa\u30da\u30ec\u30fc\u30b7\u30e7\u30f3\uff09\u3092\u3057\u3066\u3044\u305f\u300d\u3060\u3051\u3067\u306a\u304f\u3001\u300c\u3069\u306e\u3088\u3046\u306a\u30ea\u30fc\u30b7\u30f3\u30b0\u6226\u7565\u3084\u30ea\u30ce\u30d9\u30fc\u30b7\u30e7\u30f3\u63d0\u6848\u306b\u3088\u3063\u3066\u3001\u7269\u4ef6\u306eNOI\uff08\u53ce\u76ca\uff09\u5411\u4e0a\u306b\u8ca2\u732e\u3057\u305f\u304b\u300d\u3068\u3044\u3046<strong>\u6295\u8cc7\u5bb6\uff08\u30aa\u30fc\u30ca\u30fc\uff09\u76ee\u7dda\u3067\u306e\u5b9f\u7e3e<\/strong>\u3067\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">\u30d1\u30bf\u30fc\u30f3D\uff1a\u3010\u672a\u7d4c\u9a13\u30fb\u7b2c\u4e8c\u65b0\u5352\u3011\u30dd\u30c6\u30f3\u30b7\u30e3\u30eb\u67a0\u3067\u306e\u6ed1\u308a\u8fbc\u307f<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u4e3b\u306a\u524d\u8077:<\/strong> 20\u4ee3\u4e2d\u76e4\u307e\u3067\u306e\u3001\u7dcf\u5408\u5546\u793e\u3001\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u30d5\u30a1\u30fc\u30e0\u3001\u5927\u624b\u4e8b\u696d\u4f1a\u793e\u306e\u4f01\u753b\u8ca1\u52d9\u90e8\u9580\u3002<\/li>\n\n\n\n<li><strong>\u4f01\u696d\u304c\u8a55\u4fa1\u3059\u308b\u30dd\u30a4\u30f3\u30c8:<\/strong> \u9ad8\u3044\u5730\u982d\uff08\u8ad6\u7406\u7684\u601d\u8003\u529b\uff09\u3001\u5727\u5012\u7684\u306a\u30a8\u30af\u30bb\u30eb\u30fb\u30d1\u30ef\u30dd\u306e\u30b9\u30ad\u30eb\u3001\u82f1\u8a9e\u529b\u3001\u30bf\u30d5\u306a\u696d\u52d9\u3092\u3084\u308a\u629c\u304f\u57fa\u790e\u4f53\u529b\u3002<\/li>\n\n\n\n<li><strong>\u8ee2\u8077\u6210\u529f\u306e\u9375\uff08\u52dd\u3061\u7b4b\uff09:<\/strong>\u4e0d\u52d5\u7523\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u696d\u754c\u306f\u82e5\u624b\u4eba\u6750\u304c\u6162\u6027\u7684\u306b\u4e0d\u8db3\u3057\u3066\u3044\u307e\u3059\u3002\u5c02\u9580\u77e5\u8b58\u304c\u5b8c\u5168\u306b\u63c3\u3063\u3066\u3044\u306a\u304f\u3066\u3082\u3001\u5165\u793e\u5f8c\u306e\u5b66\u7fd2\u30b9\u30d4\u30fc\u30c9\u304c\u65e9\u3044\u3068\u5224\u65ad\u3055\u308c\u308c\u3070\u3001\u5916\u8cc7\u7cfbPE\u306e\u30a2\u30ca\u30ea\u30b9\u30c8\u3084\u3001\u56fd\u5185\u5927\u624bAM\u306e\u30a2\u30bd\u30b7\u30a8\u30a4\u30c8\u67a0\u3067\u30dd\u30c6\u30f3\u30b7\u30e3\u30eb\u63a1\u7528\u3055\u308c\u307e\u3059\u3002\u5b66\u751f\u6642\u4ee3\u306e\u5c02\u653b\uff08\u7d4c\u6e08\u30fb\u8ca1\u52d9\u30fb\u5de5\u5b66\u306a\u3069\uff09\u3084\u3001\u524d\u8077\u3067\u306e\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u7d4c\u9a13\u3092\u30d9\u30fc\u30b9\u306b\u3001\u300c\u306a\u305c\u4e0d\u52d5\u7523\u3068\u3044\u3046\u5b9f\u7269\u8cc7\u7523\u306e\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306b\u547d\u3092\u8ced\u3051\u305f\u3044\u306e\u304b\u300d\u3068\u3044\u3046\u4e00\u8cab\u3057\u305f\u30b9\u30c8\u30fc\u30ea\u30fc\uff08\u5fd7\u671b\u52d5\u6a5f\uff09\u3092\u78e8\u304d\u4e0a\u3052\u308b\u3053\u3068\u304c\u7a81\u7834\u53e3\u306b\u306a\u308a\u307e\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">7. \u30b3\u30c8\u30e9\u30b8\u30e3\u30fc\u30ca\u30eb\u306b\u5b66\u3076\uff1a\u9762\u63a5\u3092\u7a81\u7834\u3059\u308b\u305f\u3081\u306e\u300c\u8d85\u30fb\u5b9f\u8df5\u7684\u5bfe\u7b56\u300d<\/h2>\n\n\n\n<p>\u30cf\u30a4\u30af\u30e9\u30b9\u8ee2\u8077\u306b\u304a\u3044\u3066\u3001\u4e00\u822c\u7684\u306a\u300c\u81ea\u5df1\u7d39\u4ecb\u300d\u300c\u5fd7\u671b\u52d5\u6a5f\u300d\u30ec\u30d9\u30eb\u306e\u9762\u63a5\u5bfe\u7b56\u3067\u306f\u3001\u767e\u6226\u932c\u78e8\u306e\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u3084\u6295\u8cc7\u5f79\u54e1\u3092\u5538\u3089\u305b\u308b\u3053\u3068\u306f\u3067\u304d\u307e\u305b\u3093\u3002\u30b3\u30c8\u30e9\u30b8\u30e3\u30fc\u30ca\u30eb\u306e\u30a4\u30f3\u30bf\u30d3\u30e5\u30fc\u7b49\u3067\u3082\u793a\u5506\u3055\u308c\u3066\u3044\u308b\u3001<strong>\u5185\u5b9a\u3092\u52dd\u3061\u53d6\u308b\u305f\u3081\u306e3\u3064\u306e\u30c7\u30a3\u30fc\u30d7\u306a\u9762\u63a5\u5bfe\u7b56<\/strong>\u3092\u4f1d\u6388\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u2460 \u300c\u6700\u8fd1\u6c17\u306b\u306a\u3063\u305f\u4e0d\u52d5\u7523\u30cb\u30e5\u30fc\u30b9\u30fb\u30c7\u30a3\u30fc\u30eb\uff08\u53d6\u5f15\uff09\u300d\u3092\u81ea\u5206\u306e\u8a00\u8449\u3067\u8ad6\u8a55\u3067\u304d\u308b\u3088\u3046\u306b\u3059\u308b<\/h3>\n\n\n\n<p>\u9762\u63a5\u3067\u307b\u307c100%\u805e\u304b\u308c\u308b\u306e\u304c\u3001\u300c\u6700\u8fd1\u3001\u9762\u767d\u3044\u3068\u601d\u3063\u305f\u4e0d\u52d5\u7523\u95a2\u9023\u306e\u30cb\u30e5\u30fc\u30b9\u3084\u3001\u4ed6\u793e\u306e\u6295\u8cc7\u4e8b\u4f8b\uff08\u30c7\u30a3\u30fc\u30eb\uff09\u306f\u3042\u308a\u307e\u3059\u304b\uff1f\u300d\u3068\u3044\u3046\u8cea\u554f\u3067\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>NG\u56de\u7b54:<\/strong> \u300c\u3007\u3007\u30d3\u30eb\u304c\u7ae3\u5de5\u3057\u305f\u30cb\u30e5\u30fc\u30b9\u3067\u3059\u3002\u30c7\u30b6\u30a4\u30f3\u304c\u7dba\u9e97\u3060\u3068\u601d\u3044\u307e\u3057\u305f\u3002\u300d<\/li>\n\n\n\n<li><strong>\u5408\u683c\u56de\u7b54:<\/strong> \u300c\u76f4\u8fd1\u306e\u3001\u3007\u3007\u30d5\u30a1\u30f3\u30c9\u306b\u3088\u308b\u5916\u8cc7\u7cfb\u9ad8\u7d1a\u30db\u30c6\u30eb\u306e\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u8cb7\u53ce\u306e\u30c7\u30a3\u30fc\u30eb\u306b\u6ce8\u76ee\u3057\u3066\u3044\u307e\u3059\u3002\u8cb7\u53ce\u984d\u306e\u30ad\u30e3\u30c3\u30d7\u30ec\u30fc\u30c8\u306f\u63a8\u5b9a\u3007%\u524d\u5f8c\u3068\u3001\u73fe\u5728\u306e\u5e02\u5834\u6c34\u6e96\u304b\u3089\u898b\u308b\u3068\u304b\u306a\u308a\u30a2\u30b0\u30ec\u30c3\u30b7\u30d6\uff08\u5f37\u6c17\uff09\u3067\u3059\u304c\u3001\u30a4\u30f3\u30d0\u30a6\u30f3\u30c9\u306eADR\uff08\u5e73\u5747\u5ba2\u5ba4\u5358\u4fa1\uff09\u306e\u4e0a\u6607\u30c8\u30ec\u30f3\u30c9\u3092\u7e54\u308a\u8fbc\u3081\u3070\u3001\u5341\u5206\u306b\u30a8\u30af\u30a4\u30c6\u30a3IRR\u3067\u3007%\u3092\u72d9\u3048\u308b\u3068\u3044\u3046\u7b97\u6bb5\u3060\u3068\u5206\u6790\u3057\u3066\u3044\u307e\u3059\u3002\u81ea\u5206\u3067\u3042\u308c\u3070\u3001\u3007\u3007\u306e\u30a8\u30ea\u30a2\u306e\u7279\u6027\u3092\u6d3b\u304b\u3057\u3066\u3001\u3053\u306e\u3088\u3046\u306a\u30d0\u30ea\u30e5\u30fc\u30a2\u30c3\u30c9\u6226\u7565\u3092\u3068\u308a\u307e\u3059\u2026\u2026\u300d<\/li>\n<\/ul>\n\n\n\n<p>\u3053\u306e\u3088\u3046\u306b\u3001\u300c\u30d7\u30ec\u30a4\u30e4\u30fc\u540d\u300d\u300c\u30a2\u30bb\u30c3\u30c8\u30bf\u30a4\u30d7\u300d\u300c\u30ad\u30e3\u30c3\u30d7\u30ec\u30fc\u30c8\u30fb\u6295\u8cc7\u5229\u56de\u308a\u300d\u300c\u305d\u306e\u88cf\u306b\u3042\u308b\u6295\u8cc7\u6226\u7565\u300d\u306e4\u3064\u306e\u8ef8\u3067\u3001\u30d7\u30ed\u3068\u3057\u3066\u306e\u8003\u5bdf\u3092\u8ff0\u3079\u308b\u6e96\u5099\u3092\u3057\u3066\u304a\u304d\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u2461 \u30a8\u30af\u30bb\u30eb\u306b\u3088\u308b\u300c\u5b9f\u6280\u8a66\u9a13\uff08\u30e2\u30c7\u30ea\u30f3\u30b0\u30c6\u30b9\u30c8\uff09\u300d\u3078\u306e\u5099\u3048<\/h3>\n\n\n\n<p>\u30df\u30c9\u30eb\u301c\u30cf\u30a4\u30af\u30e9\u30b9\u3001\u7279\u306b\u5916\u8cc7\u7cfb\u30d5\u30a1\u30f3\u30c9\u3084\u72ec\u7acb\u7cfb\u30d5\u30a1\u30f3\u30c9\u306e\u9762\u63a5\u3067\u306f\u30012\u6b21\u9762\u63a5\u3084\u6700\u7d42\u9762\u63a5\u306e\u524d\u5f8c\u306b\u300c\u30e2\u30c7\u30ea\u30f3\u30b0\u30c6\u30b9\u30c8\u300d\u304c\u8ab2\u3055\u308c\u308b\u30b1\u30fc\u30b9\u304c\u975e\u5e38\u306b\u591a\u3044\u3067\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u30c6\u30b9\u30c8\u306e\u5177\u4f53\u4f8b:<\/strong>\u4f1a\u8b70\u5ba4\u306b\u6848\u5185\u3055\u308c\uff08\u3042\u308b\u3044\u306f\u30aa\u30f3\u30e9\u30a4\u30f3\u3067\u30d5\u30a1\u30a4\u30eb\u3092\u6e21\u3055\u308c\uff09\u3001\u6570\u679a\u306e\u7d19\uff08\u7269\u4ef6\u306e\u6982\u8981\u3001\u30ec\u30f3\u30c8\u30ed\u30fc\u30eb\u3001\u4fee\u7e55\u5c65\u6b74\u3001\u501f\u5165\u6761\u4ef6\u306a\u3069\uff09\u3092\u6e21\u3055\u308c\u307e\u3059\u3002\u300c\u5236\u9650\u6642\u95932\u6642\u9593\u4ee5\u5185\u3067\u3001\u3053\u306e\u7269\u4ef6\u306e30\u5e74\u9593\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u8868\u3092\u4f5c\u6210\u3057\u3001\u30ec\u30d0\u30ec\u30c3\u30b8\u524d\u5f8c\u306eIRR\u3092\u7b97\u51fa\u3057\u3001\u6295\u8cc7\u3059\u3079\u304d\u304b\u3069\u3046\u304b\u306e\u63d0\u8a00\u3092\u30d1\u30ef\u30dd1\u679a\u3067\u307e\u3068\u3081\u3066\u304f\u3060\u3055\u3044\u300d\u3068\u3044\u3046\u5f62\u5f0f\u3067\u3059\u3002<\/li>\n\n\n\n<li><strong>\u5bfe\u7b56:<\/strong>\u5e02\u8ca9\u306e\u300c\u4e0d\u52d5\u7523\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u30fb\u30a8\u30af\u30bb\u30eb\u30e2\u30c7\u30ea\u30f3\u30b0\u300d\u306b\u95a2\u3059\u308b\u66f8\u7c4d\uff08\u4f8b\uff1a\u4e0d\u52d5\u7523\u8a3c\u5238\u5316\u5354\u4f1a\u306e\u30c6\u30ad\u30b9\u30c8\u3084\u5b9f\u52d9\u66f8\uff09\u3092\u8aad\u307f\u8fbc\u307f\u3001\u95a2\u6570\uff08<code>VLOOKUP<\/code>, <code>XLOOKUP<\/code>, <code>IRR<\/code>, <code>XIRR<\/code>, <code>PMT<\/code>\u306a\u3069\uff09\u3092\u30d6\u30e9\u30a4\u30f3\u30c9\u3067\u53e9\u3051\u308b\u304f\u3089\u3044\u307e\u3067\u7df4\u7fd2\u3057\u3066\u304a\u304f\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">\u2462 \u6295\u8cc7\u59d4\u54e1\u4f1a\uff08\u30a4\u30f3\u30d9\u30b9\u30c8\u30e1\u30f3\u30c8\u30fb\u30b3\u30df\u30c3\u30c6\u30a3\uff09\u3092\u610f\u8b58\u3057\u305f\u8ad6\u7406\u7684\u30b3\u30df\u30e5\u30cb\u30b1\u30fc\u30b7\u30e7\u30f3<\/h3>\n\n\n\n<p>\u30d5\u30a1\u30f3\u30c9\u306b\u304a\u3051\u308b\u7269\u4ef6\u8cfc\u5165\u306e\u610f\u601d\u6c7a\u5b9a\u306f\u3001\u3059\u3079\u3066\u300c\u6295\u8cc7\u59d4\u54e1\u4f1a\u300d\u3068\u3044\u3046\u30b7\u30d3\u30a2\u306a\u4f1a\u8b70\u3067\u6c7a\u307e\u308a\u307e\u3059\u3002\u305d\u306e\u305f\u3081\u3001\u9762\u63a5\u5b98\uff08\u30d5\u30a1\u30f3\u30c9\u5e79\u90e8\uff09\u306f\u3001\u3042\u306a\u305f\u304c\u300c\u6295\u8cc7\u59d4\u54e1\u4f1a\u306e\u30e1\u30f3\u30d0\u30fc\uff08\u793e\u5916\u53d6\u7de0\u5f79\u3084\u5927\u53e3\u6295\u8cc7\u5bb6\u306a\u3069\uff09\u3092\u7d0d\u5f97\u3055\u305b\u3089\u308c\u308b\u3060\u3051\u306e\u8ad6\u7406\u7684\u306a\u8aac\u660e\u304c\u3067\u304d\u308b\u304b\u300d\u3092\u30c1\u30a7\u30c3\u30af\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u7d50\u8ad6\u304b\u3089\u8a71\u3059\uff08PREP\u6cd5\uff09\u3053\u3068\u306f\u3082\u3061\u308d\u3093\u3001\u30ea\u30b9\u30af\uff08\u7269\u4ef6\u306e\u30c7\u30e1\u30ea\u30c3\u30c8\u3084\u91d1\u5229\u4e0a\u6607\u30ea\u30b9\u30af\uff09\u3092\u96a0\u3055\u305a\u63d0\u793a\u3057\u305f\u4e0a\u3067\u3001\u300c\u305d\u308c\u3092\u3069\u306e\u3088\u3046\u306b\u30d8\u30c3\u30b8\uff08\u56de\u907f\u30fb\u7de9\u548c\uff09\u3059\u308b\u304b\u300d\u3092\u30bb\u30c3\u30c8\u3067\u8a9e\u308b\u300c\u30ea\u30b9\u30af\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u306e\u8996\u70b9\u300d\u3092\u4f1a\u8a71\u306e\u4e2d\u306b\u6563\u308a\u3070\u3081\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">8. \u4e0d\u52d5\u7523\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306b\u304a\u3051\u308b\u30ad\u30e3\u30ea\u30a2\u30d1\u30b9\u3068\u5c06\u6765\u6027\uff08Exit\u30ad\u30e3\u30ea\u30a2\uff09<\/h2>\n\n\n\n<p>\u4e0d\u52d5\u7523\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u306e\u4e16\u754c\u3067\u6570\u5e74\u9593\u78e8\u3044\u305f\u5c02\u9580\u6027\u306f\u3001\u305d\u306e\u5f8c\u306e\u30ad\u30e3\u30ea\u30a2\u306b\u304a\u3044\u3066\u975e\u5e38\u306b\u5f37\u529b\u306a\u300c\u30dd\u30fc\u30bf\u30d6\u30eb\u30b9\u30ad\u30eb\uff08\u3069\u3053\u3067\u3082\u901a\u7528\u3059\u308b\u6b66\u5668\uff09\u300d\u3068\u306a\u308a\u307e\u3059\u3002\u3053\u306e\u696d\u754c\u3092\u7d4c\u9a13\u3057\u305f\u5f8c\u306e\u3001\u4e3b\u306a\u30ad\u30e3\u30ea\u30a2\u30d1\u30b9\uff08\u5c06\u6765\u306e\u9078\u629e\u80a2\uff09\u3092\u7d39\u4ecb\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<pre class=\"wp-block-code\"><code>&#91;\u4e0d\u52d5\u7523\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u7d4c\u9a13\u8005\u306e\u5c06\u6765\u7684\u306a\u30ad\u30e3\u30ea\u30a2\u30d1\u30b9]\n  \u2502\n  \u251c\u2500\u2500 1. \u4ed6\u306e\u30a2\u30bb\u30c3\u30c8\u3078\u306e\u62e1\u5f35 \u2500\u2500\u2500\u2500\u2500\u2500 \u30a4\u30f3\u30d5\u30e9\u3001\u518d\u30a8\u30cd\u3001\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\uff08\u30c7\u30b8\u30bf\u30eb\u30a4\u30f3\u30d5\u30e9\uff09\n  \u251c\u2500\u2500 2. \u6d77\u5916\u5e02\u5834\u3078\u306e\u6311\u6226 \u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500 \u30b7\u30f3\u30ac\u30dd\u30fc\u30eb\u3001\u30ed\u30f3\u30c9\u30f3\u3001NY\u7b49\u306e\u30b0\u30ed\u30fc\u30d0\u30eb\u30d5\u30a1\u30f3\u30c9\n  \u251c\u2500\u2500 3. \u8d77\u696d\u30fb\u72ec\u7acb \u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500\u2500 \u72ec\u81ea\u306e\u30d6\u30c6\u30a3\u30c3\u30af\u578b\u30d5\u30a1\u30f3\u30c9\u8a2d\u7acb\u3001AM\u4f1a\u793e\u306e\u5275\u696d\n  \u2514\u2500\u2500 4. 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