{"id":20335,"date":"2026-05-16T14:54:06","date_gmt":"2026-05-16T05:54:06","guid":{"rendered":"https:\/\/www.aas-clover.com\/tokyoblog\/20335"},"modified":"2026-05-16T15:58:47","modified_gmt":"2026-05-16T06:58:47","slug":"r07%e5%b9%b4%e5%ba%a6%e4%ba%8b%e4%be%8b%ef%bc%94%ef%bc%88%e5%be%97%e7%82%b9-95%e7%82%b9%ef%bc%89-3","status":"publish","type":"post","link":"https:\/\/www.aas-clover.com\/tokyoblog\/20335","title":{"rendered":"R07\u5e74\u5ea6\u4e8b\u4f8b\uff14\uff08\u5f97\u70b9 95\u70b9\uff09"},"content":{"rendered":"<h4>\u7b2c\uff11\u554f\uff08\u914d\u70b925\u70b9\uff09<\/h4>\n<p><strong>\uff08\u8a2d\u554f\uff11\uff09<\/strong><\/p>\n<table class='saigen4-tbl-01'>\n<tbody>\n<tr>\n<td style='white-space:nowrap'><\/td>\n<td>\uff08a\uff09\u6307\u6a19\u540d<\/td>\n<td>\uff08b\uff09\u5024<\/td>\n<\/tr>\n<tr>\n<td style='white-space:nowrap'>\u2460\u512a\u308c\u305f\u6307\u6a19<\/td>\n<td>\u8ca0\u50b5\u6bd4\u7387<\/td>\n<td>21.76%<\/td>\n<\/tr>\n<tr>\n<td style='white-space:nowrap'>\u2461\u52a3\u308b\u6307\u6a19<\/td>\n<td>\u58f2\u4e0a\u9ad8\u7dcf\u5229\u76ca\u7387<\/td>\n<td>35.85%<\/td>\n<\/tr>\n<tr>\n<td style='white-space:nowrap'>\u2462\u52a3\u308b\u6307\u6a19<\/td>\n<td>\u6709\u5f62\u56fa\u5b9a\u8cc7\u7523\u56de\u8ee2\u7387<\/td>\n<td>1.85\u56de<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>\uff08\u8a2d\u554f\uff12\uff09<\/strong><\/p>\n<p>\u8981\u56e0\u306f\u3001\u9ad8\u4fa1\u683c\u4ecf\u58c7\u306e\u4f1d\u7d71\u5de5\u82b8\u306e\u539f\u6750\u6599\u4fa1\u683c\u9ad8\u9a30\u3084\u8077\u4eba\u306e\u78ba\u4fdd\u30fb\u80b2\u6210\u306b\u3088\u308a\u4eba\u4ef6\u8cbb\u304c\u304b\u3055\u3093\u3067\u53ce\u76ca\u6027\u304c\u60aa\u5316\u3057\u3001\u624b\u4f5c\u696d\u3068\u6a5f\u68b0\u304c\u4e0a\u624b\u304f\u6d3b\u7528\u3067\u304d\u305a\u306b\u52b9\u7387\u6027\u304c\u60aa\u5316\u3057\u3066\u3044\u308b\u304b\u3089\u3002<\/p>\n<h4>\u7b2c\uff12\u554f\uff08\u914d\u70b930\u70b9\uff09<\/h4>\n<p><strong>\uff08\u8a2d\u554f\uff11\uff09<\/strong><\/p>\n<table class='saigen4-tbl-02'>\n<tbody>\n<tr>\n<td style='white-space:nowrap'>\u2460\u88fd\u54c1X\u8ca9\u58f2\u6570\u91cf<\/td>\n<td>480\u57fa<\/td>\n<\/tr>\n<tr>\n<td style='white-space:nowrap'>\u2461\u88fd\u54c1Y\u8ca9\u58f2\u6570\u91cf<\/td>\n<td>720\u57fa<\/td>\n<\/tr>\n<tr>\n<td style='white-space:nowrap'>\u2462\u640d\u76ca\u5206\u5c90\u70b9\u58f2\u4e0a\u9ad8<\/td>\n<td>691,200,000\u5186<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>\u8a08\u7b97\u904e\u7a0b<\/strong><\/p>\n<p>\u88fd\u54c1X\u30922\u57fa\u3001\u88fd\u54c1Y\u30923\u57fa\u8ca9\u58f2\u3057\u305f\u6642\u3092\u8003\u3048\u308b\u3068\u3001\u58f2\u4e0a\u9ad82,880\u5343\u5186,\u5909\u52d5\u8cbb880\u5343\u5186,\u56fa\u5b9a\u8cbb480,000\u5343\u5186\u3002<br \/>\n\u3088\u3063\u3066\u3001\u640d\u76ca\u5206\u5c90\u70b9\u58f2\u4e0a\u9ad8\u306f\u3001480,000\u00f7(1-880\/2,880)=691,199\u2026\u5343\u5186 \u2192 691,200,000\u5186\u3002<br \/>\n\u305d\u306e\u6642\u306e\u8ca9\u58f2\u6570\u91cf\u306f\u3001691,200\u00f72,880\u00d72=480\uff08\u88fd\u54c1X\uff09\uff0c480\u00d73\/2=720\uff08\u88fd\u54c1Y\uff09\u3002<\/p>\n<p><strong>\uff08\u8a2d\u554f\uff12\uff09<\/strong><\/p>\n<table class='saigen4-tbl-02'>\n<tbody>\n<tr>\n<td style='white-space:nowrap'>\u88fd\u54c1Y\u8ca9\u58f2\u6570\u91cf<\/td>\n<td>947\u57fa<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>\u8a08\u7b97\u904e\u7a0b<\/strong><\/p>\n<p>\u5404\u5909\u52d5\u8cbb\u3068\u5171\u901a\u56fa\u5b9a\u8cbb\u306f\u3001\u5909\u52d5\u8cbb(\u88fd\u54c1X)241.5\u5343\u5186,\u5909\u52d5\u8cbb(\u88fd\u54c1Y)147\u5343\u5186,\u5171\u901a\u56fa\u5b9a\u8cbb440,000\u5343\u5186\u3002<br \/>\n\u88fd\u54c1X\u306e\u8ca2\u732e\u5229\u76ca\u306f\u3001(600-241.5)\u00d7500-45,000=134,250\u5343\u5186\u3002<br \/>\n\u88fd\u54c1Y\u3067\u5fc5\u8981\u306a\u8ca2\u732e\u5229\u76ca\u306f\u3001(440,000+50,000)-134,250=355,750\u5343\u5186\u3002<br \/>\n\u3088\u3063\u3066\u3001\u88fd\u54c1Y\u306e\u8ca9\u58f2\u6570\u91cf\u306f\u3001(355,750+35,000)\u00f7(560-147)=946.1\u2026 \u2192 947\u57fa<\/p>\n<p><strong>\uff08\u8a2d\u554f\uff13\uff09<\/strong><\/p>\n<table class='saigen4-tbl-02'>\n<tbody>\n<tr>\n<td style='white-space:nowrap'>\u2460\u88fd\u54c1X\u8ca9\u58f2\u6570\u91cf<\/td>\n<td>500\u57fa<\/td>\n<\/tr>\n<tr>\n<td style='white-space:nowrap'>\u2461\u88fd\u54c1Y\u8ca9\u58f2\u6570\u91cf<\/td>\n<td>1,500\u57fa<\/td>\n<\/tr>\n<tr>\n<td style='white-space:nowrap'>\u2462\u7dcf\u5229\u76ca\u984d<\/td>\n<td>408,750,000\u5186<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>\u8a08\u7b97\u904e\u7a0b<\/strong><\/p>\n<p>\u88fd\u54c1X\u306e\u8ca9\u58f2\u6570\u91cf\u3092x\u3001\u88fd\u54c1Y\u306e\u8ca9\u58f2\u6570\u91cf\u3092y\u3068\u304a\u304f\u3068\u3001<br \/>\n\u5229\u76ca\u304c\u6700\u5927\u3068\u306a\u308b\u3068\u304d\u3001k=(600-241.5)x+(650-147)y \u21d4 k=358.5x+503y\u304c\u6700\u5927\u3068\u306a\u308b\u3002<br \/>\n\u5236\u7d04\u6761\u4ef6\u306f\u3001\u24600.5x+0.3y\u2266700\u24613x-y\u22670\uff08x\u304c25%\u4ee5\u4e0a\uff09<br \/>\n\u7dda\u5f62\u8a08\u753b\u6cd5\u3088\u308a\u3001k\u306e\u6700\u5927\u5024\u306f\u2460,\u2461\u306e\u4ea4\u70b9\u306a\u306e\u3067(x,y)=(500,1,500)<br \/>\n\u7dcf\u5229\u76ca\u984d\u306f\u3001358.5\u00d7500+503\u00d71,500-(45,000+40,000+440,000)=408,750\u5343\u5186<\/p>\n<h4>\u7b2c\uff13\u554f\uff08\u914d\u70b925\u70b9\uff09<\/h4>\n<p><strong>\uff08\u8a2d\u554f\uff11\uff09\u8a2d\u5099Z\u58f2\u5374\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc<\/strong><\/p>\n<table class='saigen4-tbl-02'>\n<tbody>\n<tr>\n<td style='white-space:nowrap'>\u58f2\u5374CF<\/td>\n<td>4,200,000\u5186<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>\u8a08\u7b97\u904e\u7a0b<\/strong><\/p>\n<p>6,000\u5343\u5186\u00d70.7=4,200\u5343\u5186<\/p>\n<p><strong>\uff08\u8a2d\u554f\uff12\uff09\u5404\u5e74\u672b\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc<\/strong><\/p>\n<table class='saigen4-tbl-02'>\n<tbody>\n<tr>\n<td style='white-space:nowrap'>\uff11\u5e74\u672b<\/td>\n<td>10,620,000\u5186<\/td>\n<\/tr>\n<tr>\n<td style='white-space:nowrap'>\uff12\u5e74\u672b<\/td>\n<td>19,620,000\u5186<\/td>\n<\/tr>\n<tr>\n<td style='white-space:nowrap'>\uff13\u5e74\u672b<\/td>\n<td>19,620,000\u5186<\/td>\n<\/tr>\n<tr>\n<td style='white-space:nowrap'>\uff14\u5e74\u672b<\/td>\n<td>32,820,000\u5186<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>\u8a08\u7b97\u904e\u7a0b<\/strong><\/p>\n<p>\u8a2d\u5099\u306e\u6e1b\u4fa1\u511f\u5374\u8cbb\u306f\u300160,000\u00f74=15,000\u5343\u5186\/\u5e74<br \/>\n\u55b6\u696d\u6d3b\u52d5\u306b\u3088\u308a\u6bce\u5e74\u306e\u5dee\u984d\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306f\u3001<br \/>\n((300-120)\u00d7300-30,000-15,000-2,400)\u00d70.7+15,000=19,620\u5343\u5186<br \/>\n1\u5e74\u672b\uff1a19,620-9,000=10,620\u5343\u5186<br \/>\n2~3\u5e74\u672b\uff1a19,620\u5343\u5186<br \/>\n4\u5e74\u672b\uff1a19,620+9,000+4,200=32,820\u5343\u5186<\/p>\n<p><strong>\uff08\u8a2d\u554f\uff13\uff09\u6b63\u5473\u73fe\u5728\u4fa1\u5024\u30fb\u63a1\u5426<\/strong><\/p>\n<table class='saigen4-tbl-02'>\n<tbody>\n<tr>\n<td style='white-space:nowrap'>\u6b63\u5473\u73fe\u5728\u4fa1\u5024<\/td>\n<td>13,868,220\u5186<\/td>\n<\/tr>\n<tr>\n<td style='white-space:nowrap'>\u63a1\u5426<\/td>\n<td>\u3059\u308b<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong>\u8a08\u7b97\u904e\u7a0b<\/strong><\/p>\n<p>NPV=10,620\u00d70.962+19,620\u00d7(0.925+0.889)+32,820\u00d70.855-60,000=13,868.22\u5343\u5186 \u2192 13,868,220\u5186\u3002<br \/>\n\u3088\u3063\u3066\u3001NPV\u306f\u6b63\u3067\u6295\u8cc7\u56de\u53ce\u53ef\u80fd\u3001\u7d4c\u6e08\u6027\u304c\u3042\u308b\u305f\u3081\u63a1\u629e\u3059\u308b\u3002<\/p>\n<h4>\u7b2c\uff14\u554f\uff08\u914d\u70b920\u70b9\uff09<\/h4>\n<p><strong>\uff08\u8a2d\u554f\uff11\uff09<\/strong><\/p>\n<p>\u8cc7\u91d1\u8abf\u9054\u624b\u6bb5\u306f\u3001\u682a\u5f0f\u767a\u884c\u3092\u5229\u7528\u3059\u308b\u3002\u7406\u7531\u306f\u3001\u904e\u53bb\u306e\u696d\u7e3e\u306b\u3088\u308a\u5185\u90e8\u7559\u4fdd\u304c\u5341\u5206\u5b58\u5728\u3057\u3001\u81ea\u5df1\u8cc7\u672c\u5897\u52a0\u306b\u3088\u308a\u8cc7\u672c\u69cb\u9020\u3092\u60aa\u5316\u3055\u305b\u308b\u4e8b\u306a\u304f\u3001\u8cc7\u91d1\u8abf\u9054\u304c\u53ef\u80fd\u306a\u305f\u3081\u3002<\/p>\n<p><strong>\uff08\u8a2d\u554f\uff12\uff09<\/strong><\/p>\n<p>\u30ea\u30b9\u30af\u306f\u3001\u2460\u70ba\u66ff\u5909\u52d5\u3067\u53ce\u76ca\u4e0d\u5b89\u5b9a\u5316\u2461\u5728\u5eab\u306e\u5897\u52a0\u3002\u5bfe\u5fdc\u7b56\u306f\u3001\u2460\u70ba\u66ff\u4e88\u7d04\u3067\u53d6\u5f15\u30ec\u30fc\u30c8\u56fa\u5b9a\u2461\u5916\u90e8\u63d0\u643a\u7b49\u3067\u6d77\u5916\u8ca9\u58f2\u30ce\u30a6\u30cf\u30a6\u7372\u5f97\u3002&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u7b2c\uff11\u554f\uff08\u914d\u70b925\u70b9\uff09 \uff08\u8a2d\u554f\uff11\uff09 \uff08a\uff09\u6307\u6a19\u540d \uff08b\uff09\u5024 \u2460\u512a\u308c\u305f\u6307\u6a19 \u8ca0\u50b5\u6bd4\u7387 21.76% \u2461\u52a3\u308b\u6307\u6a19 \u58f2\u4e0a\u9ad8\u7dcf\u5229\u76ca\u7387 35.85% \u2462\u52a3\u308b\u6307\u6a19 \u6709\u5f62\u56fa\u5b9a\u8cc7\u7523\u56de\u8ee2\u7387 1.85\u56de \uff08\u8a2d\u554f\uff12\uff09 \u8981\u56e0\u306f\u3001\u9ad8\u4fa1\u683c\u4ecf\u58c7\u306e\u4f1d\u7d71\u5de5 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2818,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"swell_btn_cv_data":"","score":"95","footnotes":""},"categories":[345],"tags":[],"class_list":["post-20335","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-saigen-2025d"],"_links":{"self":[{"href":"https:\/\/www.aas-clover.com\/tokyoblog\/wp-json\/wp\/v2\/posts\/20335","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.aas-clover.com\/tokyoblog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.aas-clover.com\/tokyoblog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.aas-clover.com\/tokyoblog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.aas-clover.com\/tokyoblog\/wp-json\/wp\/v2\/comments?post=20335"}],"version-history":[{"count":1,"href":"https:\/\/www.aas-clover.com\/tokyoblog\/wp-json\/wp\/v2\/posts\/20335\/revisions"}],"predecessor-version":[{"id":21238,"href":"https:\/\/www.aas-clover.com\/tokyoblog\/wp-json\/wp\/v2\/posts\/20335\/revisions\/21238"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.aas-clover.com\/tokyoblog\/wp-json\/wp\/v2\/media\/2818"}],"wp:attachment":[{"href":"https:\/\/www.aas-clover.com\/tokyoblog\/wp-json\/wp\/v2\/media?parent=20335"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.aas-clover.com\/tokyoblog\/wp-json\/wp\/v2\/categories?post=20335"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.aas-clover.com\/tokyoblog\/wp-json\/wp\/v2\/tags?post=20335"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}