{"id":1467,"date":"2022-05-08T21:20:05","date_gmt":"2022-05-08T12:20:05","guid":{"rendered":"https:\/\/1up-life.blog\/?p=1467"},"modified":"2022-05-08T21:20:05","modified_gmt":"2022-05-08T12:20:05","slug":"%e3%80%90%e7%bf%bb%e8%a8%b3%e3%80%91%e3%83%a1%e3%83%ab%e3%82%ab%e3%83%89%e3%83%aa%e3%83%96%e3%83%ac-nsdqmeli2022%e5%b9%b4%e7%ac%ac1%e5%9b%9b%e5%8d%8a%e6%9c%9f%e6%b1%ba%e7%ae%97%e8%aa%ac%e6%98%8e","status":"publish","type":"post","link":"https:\/\/1up-life.blog\/?p=1467","title":{"rendered":"\u3010\u7ffb\u8a33\u3011\u30e1\u30eb\u30ab\u30c9\u30ea\u30d6\u30ec (NSDQ:MELI)2022\u5e74\u7b2c1\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a"},"content":{"rendered":"<p>\u30e1\u30eb\u30ab\u30c9\u30ea\u30d6\u30ec (NSDQ:MELI)2022\u5e74\u7b2c1\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a\u306e\u65e5\u672c\u8a9e\u8a33\u3067\u3059\u3002<\/p>\n<p>EPS\u3092\u30df\u30b9\u3057\u3066\u304a\u308a\u5fae\u5999\u3067\u3057\u305f\u304c\u58f2\u308a\u4e0a\u3052\u90e8\u9580\u5225\u3067\u898b\u308b\u3068E\u30b3\u30de\u30fc\u30b9\u306e\u4f38\u3073\u3082\u3044\u3044\u3067\u3059\u304cFintech\u90e8\u9580\u304c113\uff05\u3068\u975e\u5e38\u306b\u4f38\u3073\u3066\u3044\u308b\u306e\u304c\u5370\u8c61\u7684\u3067\u3059\u3002<\/p>\n<p>\u682a\u4fa1\u306f\u30d4\u30fc\u30af\u304b\u3089\u534a\u984d\u4ee5\u4e0b\u306b\u306a\u3063\u3066\u304a\u308a\u304b\u306a\u308a\u5b89\u304f\u898b\u3048\u307e\u3059\u304c\u307e\u3060\u307e\u3060\u5272\u9ad8\u306a\u306e\u3067\u58f2\u3089\u308c\u308b\u4f59\u5730\u306f\u3042\u308b\u3068\u601d\u3063\u3066\u307e\u3059\u3002\u8cb7\u3046\u306a\u3089\u3082\u3063\u3068\u4e0b\u304c\u3063\u3066\u304b\u3089\u304b\u306a\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n<div id=\"attachment_1468\" style=\"width: 1488px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1468\" class=\"wp-image-1468 size-full\" src=\"https:\/\/1up-life.blog\/wp-content\/uploads\/2022\/05\/MELI_2022-05-08_21-15-03.png\" alt=\"\u30e1\u30eb\u30ab\u30c9\u30ea\u30d6\u30ec (NSDQ:MELI)\u682a\u4fa1\" width=\"1478\" height=\"743\" srcset=\"https:\/\/1up-life.blog\/wp-content\/uploads\/2022\/05\/MELI_2022-05-08_21-15-03.png 1478w, https:\/\/1up-life.blog\/wp-content\/uploads\/2022\/05\/MELI_2022-05-08_21-15-03-300x151.png 300w, https:\/\/1up-life.blog\/wp-content\/uploads\/2022\/05\/MELI_2022-05-08_21-15-03-1024x515.png 1024w, https:\/\/1up-life.blog\/wp-content\/uploads\/2022\/05\/MELI_2022-05-08_21-15-03-768x386.png 768w, https:\/\/1up-life.blog\/wp-content\/uploads\/2022\/05\/MELI_2022-05-08_21-15-03-940x473.png 940w\" sizes=\"auto, (max-width: 1478px) 100vw, 1478px\" \/><p id=\"caption-attachment-1468\" class=\"wp-caption-text\">\u30e1\u30eb\u30ab\u30c9\u30ea\u30d6\u30ec (NSDQ:MELI)\u682a\u4fa1<\/p><\/div>\n<p class=\"hh hh3 main-bdr\"><span class=\"big\"><strong>\u30e1\u30eb\u30ab\u30c9\u30ea\u30d6\u30ec (NSDQ:MELI)2022\u5e74\u7b2c1\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a<\/strong><\/span><\/p>\n<p>Call participants:<br \/>\nLissa Schreurs<br \/>\nPedro Arnt &#8212; Chief Financial Officer<br \/>\nAndrew Ruben &#8212; Morgan Stanley &#8212; Analyst<br \/>\nIrma Sgarz &#8212; Goldman Sachs &#8212; Analyst<br \/>\nRob Ford<br \/>\nOsvaldo Gimenez &#8212; Chief Executive Officer of Mercado Pago<br \/>\nMarcelo Santos &#8212; J.P. Morgan &#8212; Analyst<br \/>\nKaio Prato &#8212; UBS &#8212; Analyst<br \/>\nDeepak Mathivanan &#8212; Wolfe Research &#8212; Analyst<br \/>\nJamie Friedman &#8212; Susquehanna International Group &#8212; Analyst<br \/>\nMarvin Fong &#8212; BTIG &#8212; Analyst<br \/>\nStephen Ju &#8212; Credit Suisse &#8212; Analyst<br \/>\nTrevor Young &#8212; Barclays &#8212; Analyst<br \/>\nSoomit Datta &#8212; New Street Research &#8212; Analyst<br \/>\nMore MELI analysis<\/p>\n<p>2022\u5e745\u670805\u65e5\u5348\u5f8c4\u664230\u5206<\/p>\n<p>\u30ea\u30c3\u30b5\u30fb\u30b7\u30e5\u30eb\u30a2\u30fc\u30ba<\/p>\n<p>\u3053\u3093\u306b\u3061\u306f\u30012022 \u5e74 3 \u6708 31 \u65e5\u306b\u7d42\u4e86\u3057\u305f\u56db\u534a\u671f\u306e MercadoLibre \u306e\u6c7a\u7b97\u8aac\u660e\u96fb\u8a71\u4f1a\u8b70\u306b\u3088\u3046\u3053\u305d\u3002\u79c1\u306f MercadoLibre \u306e Investor Relations Officer\u3001Lissa Schreurs \u3067\u3059\u3002\u672c\u65e5\u306f\u3001\u56db\u534a\u671f\u30cf\u30a4\u30e9\u30a4\u30c8\u3092\u30d3\u30c7\u30aa\u3067\u304a\u4f1d\u3048\u3057\u307e\u3059\u3002\u305d\u306e\u5f8c\u3001\u5f53\u793e\u306e\u6700\u9ad8\u8ca1\u52d9\u8cac\u4efb\u8005\u30da\u30c9\u30ed\u30fb\u30a2\u30fc\u30f3\u30c8\u3001\u304a\u3088\u3073\u30e1\u30eb\u30ab\u30c9\u30fb\u30d1\u30b4\u306e\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\u30aa\u30b9\u30d0\u30eb\u30c9\u30fb\u30d2\u30e1\u30cd\u30b9\u3068\u306e\u30e9\u30a4\u30d6\u8cea\u7591\u5fdc\u7b54\u3092\u958b\u59cb\u3057\u307e\u3059\u3002<\/p>\n<p>\u7d4c\u55b6\u9663\u306f\u3001\u5f53\u793e\u306e\u7d99\u7d9a\u7684\u306a\u6210\u9577\u898b\u901a\u3057\u3001\u696d\u754c\u306e\u52d5\u5411\u3001\u88fd\u54c1\u3084\u6280\u8853\u306b\u95a2\u3059\u308b\u53d6\u308a\u7d44\u307f\u306a\u3069\u306b\u3064\u3044\u3066\u3001\u5c06\u6765\u898b\u901a\u3057\u306b\u95a2\u3059\u308b\u8a18\u8ff0\u3092\u884c\u3046\u53ef\u80fd\u6027\u304c\u3042\u308b\u3053\u3068\u3092\u304a\u77e5\u3089\u305b\u3057\u307e\u3059\u3002\u3053\u308c\u3089\u306e\u8a18\u8ff0\u306f\u3001\u73fe\u5728\u5165\u624b\u53ef\u80fd\u306a\u60c5\u5831\u304a\u3088\u3073\u5c06\u6765\u306e\u51fa\u6765\u4e8b\u306b\u95a2\u3059\u308b\u5f53\u793e\u306e\u73fe\u5728\u306e\u4eee\u5b9a\u3001\u671f\u5f85\u304a\u3088\u3073\u4e88\u6e2c\u306b\u57fa\u3065\u304f\u3082\u306e\u3067\u3059\u3002\u5f53\u793e\u306f\u3001\u73fe\u5728\u5165\u624b\u53ef\u80fd\u306a\u60c5\u5831\u304b\u3089\u5f97\u3089\u308c\u305f\u5f53\u793e\u306e\u4eee\u5b9a\u3001\u671f\u5f85\u304a\u3088\u3073\u4e88\u6e2c\u306f\u5408\u7406\u7684\u3067\u3042\u308b\u3068\u4fe1\u3058\u3066\u3044\u307e\u3059\u304c\u3001\u3053\u308c\u3089\u306e\u5c06\u6765\u4e88\u60f3\u306b\u95a2\u3059\u308b\u8a18\u8ff0\u306b\u904e\u5ea6\u306b\u4f9d\u5b58\u3057\u306a\u3044\u3088\u3046\u304a\u9858\u3044\u3057\u307e\u3059\u3002\u5f53\u793e\u306e\u5b9f\u969b\u306e\u7d50\u679c\u306f\u30012021\u5e7412\u670831\u65e5\u306b\u7d42\u4e86\u3057\u305f\u5e74\u5ea6\u306e\u30d5\u30a9\u30fc\u30e010-K\u306e\u300cForward-Looking Statements and Risk Factors\u300d\u30bb\u30af\u30b7\u30e7\u30f3\u3001\u304a\u3088\u3073MercadoLibre, Inc.\u304c\u8a3c\u5238\u53d6\u5f15\u59d4\u54e1\u4f1a\u306b\u63d0\u51fa\u3057\u305f\u305d\u306e\u4ed6\u306e\u8a72\u5f53\u66f8\u985e\u306b\u8a18\u8f09\u3055\u308c\u3066\u3044\u308b\u3082\u306e\u3092\u542b\u3080\u69d8\u3005\u306a\u7406\u7531\u306b\u3088\u308a\u3001\u3053\u306e\u96fb\u8a71\u4f1a\u8b70\u306b\u542b\u307e\u308c\u308b\u3082\u306e\u3068\u5927\u304d\u304f\u7570\u306a\u308b\u5834\u5408\u304c\u3042\u308a\u307e\u3059\uff08\u3053\u308c\u3089\u306f\u5f53\u793e\u306eIR\u30b5\u30a4\u30c8\u3067\u3054\u89a7\u3044\u305f\u3060\u3051\u307e\u3059\uff09\u305d\u308c\u3067\u306f\u3001\u5f53\u793e\u306e\u696d\u7e3e\u6982\u8981\u304b\u3089\u8aac\u660e\u3057\u307e\u3059\u3002<br \/>\n\u30da\u30c9\u30ed\u30fb\u30a2\u30fc\u30f3\u30c8 &#8212; \u6700\u9ad8\u8ca1\u52d9\u8cac\u4efb\u8005<\/p>\n<p>\u7686\u3055\u3093\u3001\u3053\u3093\u306b\u3061\u306f\u30022022\u5e74\u7b2c1\u56db\u534a\u671f\u306e\u696d\u7e3e\u306b\u3064\u3044\u3066\u3001\u30cf\u30a4\u30e9\u30a4\u30c8\u3068\u30ad\u30fc\u30e1\u30c3\u30bb\u30fc\u30b8\u3092\u3054\u7d39\u4ecb\u3055\u305b\u3066\u3044\u305f\u3060\u304d\u307e\u3059\u3002\u4eca\u5e74\u5ea6\u306f\u975e\u5e38\u306b\u597d\u8abf\u306a\u30b9\u30bf\u30fc\u30c8\u3092\u5207\u308b\u3053\u3068\u304c\u3067\u304d\u3001\u4eca\u5f8c\u6570\u56db\u534a\u671f\u306b\u63a7\u3048\u308b\u53b3\u3057\u3044\u7acb\u3061\u4e0a\u3052\u306b\u5411\u3051\u3066\u3001\u5065\u5168\u306a\u57fa\u76e4\u3092\u7bc9\u304f\u3053\u3068\u304c\u3067\u304d\u307e\u3057\u305f\u3002\u5f53\u793e\u306e\u5e02\u5834\u306e\u6210\u9577\u306f\u3001\u4eca\u671f\u3082\u4e00\u8cab\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u5546\u54c1\u53d6\u6271\u9ad8\u306f\u7d0477\u5104\u7c73\u30c9\u30eb\u3067\u3001\u70ba\u66ff\u5909\u52d5\u306e\u5f71\u97ff\u3092\u53d7\u3051\u306a\u3044\u30d9\u30fc\u30b9\u3067\u7d0432\uff05\u306e\u4f38\u3073\u3092\u793a\u3057\u30012\u5e74\u9593\u306eCAGR\u306f70\uff05\u8d85\u3092\u7dad\u6301\u3057\u307e\u3057\u305f\u3002\u5f53\u56db\u534a\u671f\u306e\u30e6\u30cb\u30fc\u30af\u30d0\u30a4\u30e4\u30fc\u6570\u306f\u7d044,000\u4e07\u4eba\u3067\u3001\u30d0\u30a4\u30e4\u30fc\u306e\u884c\u52d5\u306f\u4f9d\u7136\u3068\u3057\u3066\u5b89\u5b9a\u3057\u3066\u3044\u307e\u3059\u3002\u8cfc\u5165\u8005\u4e00\u4eba\u5f53\u305f\u308a\u306e\u5546\u54c1\u6570\u306f\u3001\u30d1\u30f3\u30c7\u30df\u30c3\u30af\u306e\u5f71\u97ff\u3092\u53d7\u3051\u305f\u6628\u5e74\u306b\u6bd4\u3079\u3001\u5897\u52a0\u3057\u7d9a\u3051\u3066\u3044\u307e\u3059\u3002\u5f53\u793e\u306f\u3001\u30de\u30fc\u30b1\u30c3\u30c8\u30d7\u30ec\u30a4\u30b9\u306b\u304a\u3051\u308b\u8c4a\u5bcc\u306a\u5546\u54c1\u3068\u30ab\u30c6\u30b4\u30ea\u30fc\u30df\u30c3\u30af\u30b9\u3001\u304a\u3088\u3073\u51fa\u54c1\u8005\u306e\u8cea\u306e\u9ad8\u3055\u306b\u3088\u308a\u3001\u30b3\u30de\u30fc\u30b9\u306b\u304a\u3051\u308b\u78ba\u5b9f\u306a\u53ce\u76ca\u5316\u306b\u3088\u3063\u3066\u7d99\u7d9a\u7684\u306a\u6210\u9577\u3092\u4fc3\u9032\u3059\u308b\u72ec\u81ea\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u306b\u3042\u308b\u3068\u78ba\u4fe1\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u307e\u305f\u3001\u5f53\u793e\u306e\u30de\u30fc\u30b1\u30c3\u30c8\u30d7\u30ec\u30a4\u30b9\u306b\u4ed8\u968f\u3059\u308b\u30b5\u30fc\u30d3\u30b9\u3082\u62e1\u5927\u3092\u7d9a\u3051\u3066\u3044\u307e\u3059\u3002\u7279\u306b\u3001\u5e83\u544a\u4e8b\u696d\u306f\u6210\u9577\u3068\u30de\u30fc\u30b8\u30f3\u69cb\u9020\u306e\u9762\u3067\u4e00\u8cab\u3057\u305f\u30cf\u30a4\u30e9\u30a4\u30c8\u3067\u3042\u308a\u3001\u5f53\u793e\u306e\u30d7\u30e9\u30c3\u30c8\u30d5\u30a9\u30fc\u30e0\u5168\u4f53\u3067\u5e83\u544a\u3092\u914d\u4fe1\u3059\u308b\u6280\u8853\u3092\u5411\u4e0a\u3055\u305b\u305f\u3053\u3068\u3067\u3001\u53ce\u76ca\u306f\u524d\u5e74\u6bd4\u3067\u307b\u307c\u500d\u5897\u3057\u3066\u3044\u307e\u3059\u3002\u4eca\u5f8c\u3082\u3001\u3053\u306e\u4e8b\u696d\u306e\u80cc\u5f8c\u306b\u3042\u308b\u6a5f\u80fd\u3084\u30c1\u30e3\u30cd\u30eb\u3092\u3055\u3089\u306b\u7acb\u3061\u4e0a\u3052\u3066\u3044\u304d\u307e\u3059\u3002\u307e\u305f\u3001\u5f53\u56db\u534a\u671f\u306b\u304a\u3051\u308b\u30d5\u30a3\u30f3\u30c6\u30c3\u30af\u30fb\u30d3\u30b8\u30cd\u30b9\u306e\u696d\u7e3e\u3082\u975e\u5e38\u306b\u5fc3\u5f37\u3044\u3082\u306e\u3067\u3057\u305f\u3002<\/p>\n<p>\u6c7a\u6e08\u7dcf\u984d\u306f\u53f2\u4e0a\u521d\u3081\u3066250\u5104\u30c9\u30eb\u3092\u8d85\u3048\u3001\u30a2\u30af\u30ef\u30a4\u30a2\u30ea\u30f3\u30b0\u3068\u30c7\u30b8\u30bf\u30eb\u53e3\u5ea7\u306eTPV\u306e\u4e21\u65b9\u3067\u52a0\u901f\u3057\u3001\u30d5\u30a3\u30f3\u30c6\u30c3\u30af\u5168\u4f53\u306e\u30c6\u30a4\u30af\u30ec\u30fc\u30c8\u304c\u91cd\u8981\u306a\u4f38\u3073\u3092\u793a\u3057\u307e\u3057\u305f\u3002\u30d5\u30a3\u30f3\u30c6\u30c3\u30af\u5206\u91ce\u306e\u30e6\u30cb\u30fc\u30af\u30a2\u30af\u30c6\u30a3\u30d6\u30e6\u30fc\u30b6\u30fc\u6570\u306f\u7d043,600\u4e07\u4eba\u3067\u3001\u5168\u5730\u57df\u3067\u5897\u52a0\u3057\u3066\u304a\u308a\u3001\u30a6\u30a9\u30ec\u30c3\u30c8\u6c7a\u6e08\u306e\u30a8\u30f3\u30b2\u30fc\u30b8\u30e1\u30f3\u30c8\u5411\u4e0a\u3068\u30af\u30ec\u30b8\u30c3\u30c8\u30e6\u30fc\u30b6\u30fc\u306e\u5897\u52a0\u306b\u3088\u3063\u3066\u5f8c\u62bc\u3057\u3055\u308c\u307e\u3057\u305f\u3002\u30af\u30ec\u30b8\u30c3\u30c8\u30fb\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306f\u5f15\u304d\u7d9a\u304d\u5b89\u5b9a\u3057\u305f\u5229\u76ca\u6210\u9577\u3092\u5b9f\u73fe\u3057\u3066\u304a\u308a\u3001\u30af\u30ec\u30b8\u30c3\u30c8\u30fb\u30d6\u30c3\u30af\u306f\u671f\u5f85\u901a\u308a\u306e\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u3092\u767a\u63ee\u3057\u3066\u3044\u307e\u3059\u3002\u696d\u7e3e\u306b\u3064\u3044\u3066\u306f\u3001\u30b3\u30de\u30fc\u30b9\u3068\u30d5\u30a3\u30f3\u30c6\u30c3\u30af\u306e\u4e21\u5206\u91ce\u3067\u30de\u30cd\u30bf\u30a4\u30ba\u304c\u6539\u5584\u3057\u3001\u7dcf\u53ce\u76ca\u306f\u6628\u5e74\u7b2c4\u56db\u534a\u671f\u3092\u4e0a\u56de\u308b\u65b0\u8a18\u9332\u3092\u9054\u6210\u3057\u307e\u3057\u305f\u3002<\/p>\n<p>\u58f2\u4e0a\u7dcf\u5229\u76ca\u7387\u306f\u3001\u30b3\u30b9\u30c8\u30d9\u30fc\u30b9\u306e\u55b6\u696d\u30ec\u30d0\u30ec\u30c3\u30b8\u306e\u6539\u5584\u306b\u3088\u308a\u3001\u524d\u5e74\u540c\u671f\u6bd4\u3067\u6539\u5584\u3057\u307e\u3057\u305f\u3002\u307e\u305f\u3001\u53ce\u76ca\u6027\u306e\u9ad8\u3044\u6210\u9577\u3092\u76ee\u6307\u3059\u5f53\u793e\u306e\u76ee\u6a19\u306b\u6cbf\u3063\u3066\u3001\u53b3\u3057\u3044\u30b3\u30f3\u30da\u30c6\u30a3\u30b7\u30e7\u30f3\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u9023\u7d50EBIT\u30de\u30fc\u30b8\u30f3\u306f\u6628\u5e74\u5ea6\u7b2c1\u56db\u534a\u671f\u3068\u540c\u30ec\u30d9\u30eb\u3092\u7dad\u6301\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3057\u305f\u3002\u6700\u7d42\u640d\u76ca\u3082\u540c\u69d8\u306b\u597d\u8abf\u3067\u3001\u7b2c1\u56db\u534a\u671f\u3068\u3057\u3066\u904e\u53bb\u6700\u9ad8\u306e\u5f53\u671f\u7d14\u5229\u76ca\u3092\u9054\u6210\u3057\u307e\u3057\u305f\u3002\u5f53\u56db\u534a\u671f\u306e\u55b6\u696d\u304a\u3088\u3073\u8ca1\u52d9\u306e\u30cf\u30a4\u30e9\u30a4\u30c8\u306b\u95a2\u3059\u308b\u3088\u308a\u8a73\u7d30\u306a\u6163\u4f8b\u7684\u306a\u30b3\u30e1\u30f3\u30c8\u306f\u3001\u30b9\u30c6\u30fc\u30af\u30db\u30eb\u30c0\u30fc\u306b\u5bfe\u3059\u308b\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u30fb\u30b3\u30e1\u30f3\u30bf\u30ea\u30fc\u30ec\u30bf\u30fc\u3068\u3057\u3066\u3001\u6c7a\u7b97\u767a\u8868\u5f53\u65e5\u306b\u5f53\u793e\u306e\u6295\u8cc7\u5bb6\u5411\u3051\u30a6\u30a7\u30d6\u30b5\u30a4\u30c8\u306b\u3066\u767a\u8868\u3057\u307e\u3059\u3002<\/p>\n<p>\u307e\u305f\u3001\u4eca\u591c\u306e\u6c7a\u7b97\u8aac\u660e\u4f1a\u306e\u30e9\u30a4\u30d6\u30fb\u30bb\u30c3\u30b7\u30e7\u30f3\u3067\u8cea\u7591\u5fdc\u7b54\u3092\u884c\u3046\u524d\u306b\u3001\u3082\u3046\u5c11 \u3057\u3060\u3051\u304a\u77e5\u3089\u305b\u3057\u3066\u304a\u304d\u305f\u3044\u3053\u3068\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>Lissa Schreurs<\/p>\n<p>Mercado Libre\u306f\u30011\u51044\u5343\u4e07\u4eba\u306e\u30e6\u30fc\u30b6\u30fc\u306b\u5bfe\u3057\u3066\u3001\u58f2\u8cb7\u306e\u30c7\u30b8\u30bf\u30eb\u4f53\u9a13\u3092\u7c21\u7d20\u5316\u30fb\u5411\u4e0a\u3055\u305b\u308b\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u3092\u63d0\u4f9b\u3057\u3001\u30e9\u30c6\u30f3\u30a2\u30e1\u30ea\u30ab\u306b\u304a\u3051\u308b\u96fb\u5b50\u5546\u53d6\u5f15\u3068\u91d1\u878d\u30b5\u30fc\u30d3\u30b9\u3078\u306e\u30a2\u30af\u30bb\u30b9\u3092\u6c11\u4e3b\u5316\u3059\u308b\u3068\u3044\u3046\u4f7f\u547d\u3092\u679c\u305f\u3059\u305f\u3081\u306b\u3001\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u306e\u62e1\u5927\u3092\u7d9a\u3051\u3066\u3044\u307e\u3059\u3002\u30ed\u30b8\u30b9\u30c6\u30a3\u30af\u30b9\u696d\u52d9\u306f\u3001\u898f\u6a21\u3060\u3051\u3067\u306a\u304f\u3001\u5404\u30b9\u30c6\u30c3\u30d7\u3092\u6700\u9069\u5316\u3059\u308b\u305f\u3081\u306e\u30c6\u30af\u30ce\u30ed\u30b8\u30fc\u306e\u6d3b\u7528\u306b\u3088\u308a\u3001\u307e\u3059\u307e\u3059\u52b9\u7387\u7684\u306b\u306a\u3063\u3066\u3044\u307e\u3059\u3002\u5f53\u793e\u306e\u30d5\u30eb\u30d5\u30a3\u30eb\u30e1\u30f3\u30c8\u306f\u6210\u9577\u3092\u7d9a\u3051\u3001\u3088\u308a\u591a\u304f\u306e\u5f53\u65e5\u914d\u9001\u3084\u7fcc\u65e5\u914d\u9001\u3092\u63a8\u9032\u3057\u3066\u3044\u307e\u3059\u30022022\u5e74\u306e\u914d\u9001\u91cf\u306e40\uff05\u3092\u30d5\u30eb\u30d5\u30a3\u30eb\u30e1\u30f3\u30c8\u3067\u30b9\u30bf\u30fc\u30c8\u3057\u3001\u3059\u3067\u306b20\u62e0\u70b9\u304c\u7a3c\u52d5\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>MELI Places\u3082\u6210\u9577\u3057\u3066\u3044\u307e\u3059\u3002\u3053\u306e\u3088\u3046\u306a\u30b9\u30da\u30fc\u30b9\u306f\u30e9\u30c6\u30f3\u30a2\u30e1\u30ea\u30ab\u3067\u3059\u3067\u306b5,800\u30ab\u6240\u4ee5\u4e0a\u3042\u308a\u3001\u58f2\u308a\u624b\u306b\u306f\u30c9\u30ed\u30c3\u30d7\u30aa\u30d5\u6a5f\u80fd\u3092\u3001\u304a\u5ba2\u69d8\u306b\u306f\u8377\u7269\u306e\u53d7\u3051\u53d6\u308a\u3068\u8fd4\u5374\u3092\u975e\u5e38\u306b\u4fbf\u5229\u306a\u65b9\u6cd5\u3067\u63d0\u4f9b\u3057\u3066\u3044\u307e\u3059\u3002Mercado Credito\u306f\u3001MercadoLibre\u306e\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u306e\u91cd\u8981\u306a\u89e6\u5a92\u3068\u306a\u3063\u3066\u3044\u307e\u3059\u3002\u3059\u3067\u306b\u7d041000\u4e07\u4eba\u306e\u30e6\u30fc\u30b6\u30fc\u304c\u30a2\u30af\u30c6\u30a3\u30d6\u306a\u30af\u30ec\u30b8\u30c3\u30c8\u30e9\u30a4\u30f3\u3092\u6301\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u6211\u3005\u306e\u30d7\u30e9\u30c3\u30c8\u30d5\u30a9\u30fc\u30e0\u4e0a\u3067\u306e\u5f7c\u3089\u306e\u30a8\u30f3\u30b2\u30fc\u30b8\u30e1\u30f3\u30c8\u304c\u9ad8\u3051\u308c\u3070\u9ad8\u3044\u307b\u3069\u3001\u5f7c\u3089\u306e\u4fe1\u7528\u5ea6\u3092\u3088\u308a\u9ad8\u304f\u8a55\u4fa1\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u308b\u306e\u3067\u3059\u3002\u30e6\u30fc\u30b6\u30fc\u306f\u3001Mercado Pago\u306e\u30ec\u30b8\u3067\u306e\u652f\u6255\u3044\u3084\u3001\u30d6\u30e9\u30b8\u30eb\u3067\u306e\u30d4\u30c3\u30af\u652f\u6255\u3044\u306e\u969b\u306b\u3001\u30a2\u30d7\u30ea\u3092\u901a\u3058\u3066\u878d\u8cc7\u3092\u53d7\u3051\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002\u52a0\u76df\u5e97\u306f\u5373\u5ea7\u306b\u8cc7\u91d1\u3092\u53d7\u3051\u53d6\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002\u307e\u305f\u3001\u30c7\u30b8\u30bf\u30eb\u30a2\u30ab\u30a6\u30f3\u30c8\u3067\u6697\u53f7\u901a\u8ca8\u3092\u7c21\u5358\u306b\u7ba1\u7406\u3059\u308b\u65b9\u6cd5\u3082\u4f5c\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u767a\u58f2\u5f8c\u7b2c1\u56db\u534a\u671f\u3067\u3001\u6697\u53f7\u30a6\u30a9\u30ec\u30c3\u30c8\u306f\u6697\u53f7\u901a\u8ca8\u3092\u8cfc\u5165\u30fb\u58f2\u5374\u3057\u305f\u30e6\u30fc\u30b6\u30fc\u304c100\u4e07\u4eba\u3092\u7a81\u7834\u3057\u307e\u3057\u305f\u3002MercadoLibre\u306e\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u306f\u8fd1\u5e74\u3001\u904b\u7528\u306e\u30d4\u30fc\u30af\u3092\u8fce\u3048\u3066\u304a\u308a\u3001\u4eca\u5f8c\u3082\u9032\u5316\u3092\u7d9a\u3051\u3066\u3044\u304f\u3053\u3068\u3067\u3057\u3087\u3046\u3002\u3053\u306e\u8907\u96d1\u306a\u74b0\u5883\u306b\u304a\u3044\u3066\u3001\u5353\u8d8a\u3057\u305f\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u3092\u767a\u63ee\u3057\u3001\u9769\u65b0\u3092\u7d9a\u3051\u308b\u305f\u3081\u306b\u306f\u3001\u660e\u78ba\u306a\u512a\u5148\u9806\u4f4d\u3068\u4fca\u654f\u6027\u304c\u4e0d\u53ef\u6b20\u306b\u306a\u308a\u307e\u3059\u3002\u305d\u306e\u305f\u3081\u306b\u30012022\u5e74\u672b\u307e\u3067\u306b\u3053\u306e\u5730\u57df\u306713,000\u4eba\u4ee5\u4e0a\u306e\u5f93\u696d\u54e1\u3092\u96c7\u7528\u3057\u3001\u5408\u8a0843,000\u4eba\u4ee5\u4e0a\u306e\u5f93\u696d\u54e1\u3067\u30c1\u30fc\u30e0\u3092\u69cb\u6210\u3059\u308b\u3053\u3068\u3082\u4e88\u5b9a\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u3044\u3064\u3082\u306e\u3088\u3046\u306b\u3001\u30d9\u30b9\u30c8\u306f\u3053\u308c\u304b\u3089\u3067\u3059\u3002<\/p>\n<p class=\"hh hh6 main-c main-bdr\"><span class=\"big\"><strong>\u8cea\u7591\u5fdc\u7b54<\/strong><\/span><\/p>\n<p>\u30aa\u30da\u30ec\u30fc\u30bf\u30fc<\/p>\n[\u6700\u521d\u306e\u8cea\u554f\u306f\u3001\u30e2\u30eb\u30ac\u30f3\u30fb\u30b9\u30bf\u30f3\u30ec\u30fc\u306e\u30a2\u30f3\u30c9\u30ea\u30e5\u30fc\u30fb\u30eb\u30fc\u30d9\u30f3\u304b\u3089\u3067\u3059\u3002\u305d\u308c\u3067\u306f\u3069\u3046\u305e\u3002<\/p>\n<p>\u30a2\u30f3\u30c9\u30ea\u30e5\u30fc\u30fb\u30eb\u30fc\u30d9\u30f3 &#8212; \u30e2\u30eb\u30ac\u30f3\u30b9\u30bf\u30f3\u30ec\u30fc &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u30d7\u30ec\u30bc\u30f3\u30c6\u30fc\u30b7\u30e7\u30f3\u3068\u3054\u8cea\u554f\u3092\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002\u3082\u3046\u5c11\u3057\u6398\u308a\u4e0b\u3052\u305f\u3044\u9805\u76ee\u304c\u3042\u308a\u307e\u3059\u3002\u539f\u6cb9\u3084\u91d1\u5229\u306e\u4e0a\u6607\u306a\u3069\u3001\u80cc\u666f\u306b\u306f\u3055\u307e\u3056\u307e\u306a\u30b3\u30b9\u30c8\u5727\u529b\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>\u3053\u306e\u3088\u3046\u306a\u30b3\u30b9\u30c8\u4e0a\u6607\u3092\u8ca9\u58f2\u4fa1\u683c\u306b\u8ee2\u5ac1\u3059\u308b\u6226\u7565\u306b\u3064\u3044\u3066\u6559\u3048\u3066\u304f\u3060\u3055\u3044\u3002\u307e\u305f\u3001\u305d\u306e\u3088\u3046\u306a\u52d5\u304d\u3092\u3059\u308b\u969b\u306e\u5f3e\u529b\u6027\u306b\u3064\u3044\u3066\u304a\u8003\u3048\u304c\u3042\u308c\u3070\u304a\u805e\u304b\u305b\u304f\u3060\u3055\u3044\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002<\/p>\n<p>\u30da\u30c9\u30ed\u30fb\u30a2\u30fc\u30f3\u30c8 &#8212; \u6700\u9ad8\u8ca1\u52d9\u8cac\u4efb\u8005<\/p>\n<p>\u3053\u3093\u306b\u3061\u306f\u3001\u30a2\u30f3\u30c9\u30ea\u30e5\u30fc\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u79c1\u305f\u3061\u306f\u3001\u52b4\u50cd\u529b\u306e\u5897\u52a0\u306b\u3088\u308b\u8f38\u9001\u30b3\u30b9\u30c8\u306e\u4e0a\u6607\u3068\u3001\u660e\u3089\u304b\u306b\u77f3\u6cb9\u30b3\u30b9\u30c8\u306e\u4e0a\u6607\u3092\u76f8\u6bba\u3059\u308b\u305f\u3081\u306b\u3001\u3053\u308c\u3089\u306e\u30b3\u30b9\u30c8\u306e\u5c11\u306a\u304f\u3068\u3082\u4e00\u90e8\u3092\u8ee2\u5ac1\u3057\u3088\u3046\u3068\u3057\u3066\u304d\u307e\u3057\u305f\u3002\u307e\u305f\u3001\u3053\u30532\uff5e3\u56db\u534a\u671f\u306e\u30d6\u30e9\u30b8\u30eb\u3092\u4e2d\u5fc3\u3068\u3057\u305f\u5927\u5e45\u306a\u91d1\u5229\u4e0a\u6607\u3092\u8003\u616e\u3059\u308b\u3068\u3001\u79c1\u305f\u3061\u306f\u4fa1\u683c\u8a2d\u5b9a\u306b\u3088\u3063\u3066\u305d\u306e\u5727\u529b\u306e\u591a\u304f\u3092\u76f8\u6bba\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u3001\u826f\u3044\u4ed5\u4e8b\u3092\u3057\u305f\u3068\u601d\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u307e\u305f\u3001\u4e8b\u696d\u306f\u5065\u5168\u306a\u30da\u30fc\u30b9\u3067\u6210\u9577\u3092\u7d9a\u3051\u3066\u3044\u307e\u3059\u3002\u3067\u3059\u304b\u3089\u3001\u79c1\u305f\u3061\u306f\u3053\u308c\u304b\u3089\u3082\u3001\u30b3\u30b9\u30c8\u4e0a\u6607\u3092\u62bc\u3057\u3068\u3069\u3081\u3064\u3064\u3001\u9069\u5207\u306a\u5f3e\u529b\u6027\u306e\u3042\u308b\u7d44\u307f\u5408\u308f\u305b\u3092\u898b\u3064\u3051\u308b\u3053\u3068\u3067\u3001\u79c1\u305f\u3061\u306e\u524d\u306b\u307e\u3060\u591a\u304f\u306e\u6a5f\u4f1a\u304c\u3042\u308b\u3053\u3068\u3092\u8003\u3048\u308b\u3068\u3001\u610f\u5473\u306e\u3042\u308b\u4ee5\u4e0a\u306b\u30d3\u30b8\u30cd\u30b9\u3092\u6e1b\u901f\u3055\u305b\u306a\u3044\u3088\u3046\u306b\u3001\u9069\u5207\u306a\u30d0\u30e9\u30f3\u30b9\u3092\u898b\u3064\u3051\u308b\u3088\u3046\u52aa\u3081\u307e\u3059\u3002<\/p>\n<p>\u30a2\u30f3\u30c9\u30ea\u30e5\u30fc\u30fb\u30eb\u30fc\u30d9\u30f3 &#8212; \u30e2\u30eb\u30ac\u30f3\u30b9\u30bf\u30f3\u30ec\u30fc &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u3068\u3066\u3082\u53c2\u8003\u306b\u306a\u308a\u307e\u3057\u305f\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002<\/p>\n<p>\u30aa\u30da\u30ec\u30fc\u30bf\u30fc<\/p>\n<p>\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002\u6b21\u306e\u8cea\u554f\u306f\u3001\u30b4\u30fc\u30eb\u30c9\u30de\u30f3\u30fb\u30b5\u30c3\u30af\u30b9\u306e\u30a4\u30eb\u30de\u30fb\u30b9\u30ac\u30fc\u30ba\u304b\u3089\u3067\u3059\u3002\u3069\u3046\u305e\u3088\u308d\u3057\u304f\u304a\u9858\u3044\u3057\u307e\u3059\u3002<\/p>\n<p>Irma Sgarz &#8212; Goldman Sachs &#8212; Analyst<\/p>\n<p>\u306f\u3044\u3001\u3054\u8cea\u554f\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u3053\u306e\u56db\u534a\u671f\u306b\u306f\u3001\u660e\u3089\u304b\u306b\u30af\u30ec\u30b8\u30c3\u30c8\u30fb\u30d6\u30c3\u30af\u306e\u7a4d\u307f\u5897\u3057\u306b\u3088\u3063\u3066\u3044\u304f\u3064\u304b\u306e\u52d5\u304d\u304c\u3042\u308a\u307e\u3057\u305f\u304c\u3001\u30ea\u30ea\u30fc\u30b9\u3067\u306fG&amp;A\u3084\u3044\u304f\u3064\u304b\u306e\u6295\u8cc7\u306b\u95a2\u3059\u308b\u8cbb\u7528\u306e\u5897\u52a0\u3082\u6307\u6458\u3055\u308c\u3066\u3044\u307e\u3059\u306d\u3002\u4eca\u5f8c\u3001\u3053\u306e\u3088\u3046\u306a\u6295\u8cc7\u3092\u3069\u306e\u3088\u3046\u306b\u884c\u3063\u3066\u3044\u304f\u306e\u304b\u3001\u5177\u4f53\u7684\u306b\u4e8b\u696d\u7d4c\u8cbb\u306e\u9762\u3067\u3069\u306e\u3088\u3046\u306a\u6295\u8cc7\u3092\u5897\u3084\u3057\u3066\u3044\u304f\u306e\u304b\u3001\u5177\u4f53\u7684\u306b\u6559\u3048\u3066\u304f\u3060\u3055\u3044\u3002\u305d\u308c\u304b\u3089\u30012\u3064\u76ee\u306e\u8cea\u554f\u3092\u3055\u305b\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n<p>\u30ea\u30ea\u30fc\u30b9\u306e\u4e2d\u3067\u3001\u30d5\u30eb\u30d5\u30a3\u30eb\u30e1\u30f3\u30c8\u6539\u5584\u306e\u6b21\u306e\u30b9\u30c6\u30c3\u30d7\u3068\u3057\u3066\u3001\u30aa\u30da\u30ec\u30fc\u30b7\u30e7\u30f3\u3092\u6700\u9069\u5316\u3059\u308b\u305f\u3081\u306e\u30c6\u30af\u30ce\u30ed\u30b8\u30fc\u306b\u3064\u3044\u3066\u8208\u5473\u6df1\u3044\u6307\u6458\u304c\u3042\u308a\u307e\u3057\u305f\u3002\u305d\u3053\u3067\u3001\u5009\u5eab\u3084\u914d\u9001\u306a\u3069\u3001\u3088\u308a\u9ad8\u5ea6\u306a\u30aa\u30da\u30ec\u30fc\u30b7\u30e7\u30f3\u3092\u5b9f\u73fe\u3059\u308b\u305f\u3081\u306b\u5c0e\u5165\u3057\u3066\u3044\u308b\u4e8b\u4f8b\u3092\u7d39\u4ecb\u3057\u3066\u3044\u305f\u3060\u3051\u306a\u3044\u3067\u3057\u3087\u3046\u304b\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002<\/p>\n<p>Pedro Arnt &#8212; 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Sgarz &#8212; \u30b4\u30fc\u30eb\u30c9\u30de\u30f3\u30fb\u30b5\u30c3\u30af\u30b9 &#8212; 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&#8212; \u6700\u9ad8\u8ca1\u52d9\u8cac\u4efb\u8005<\/p>\n<p>Bob 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Gimenez &#8212; Mercado Pago\u306e\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\u3067\u3059\u3002<\/p>\n<p>\u3053\u3093\u306b\u3061\u306f\u3001Bob\u3002\u30da\u30a4\u30ed\u30fc\u30eb\u306b\u3064\u3044\u3066\u306f\u3001\u307e\u3060\u975e\u5e38\u306b\u521d\u671f\u306e\u6bb5\u968e\u3060\u3068\u601d\u3044\u307e\u3059\u3002\u3088\u308a\u591a\u304f\u306e\u30d7\u30ea\u30f3\u30b7\u30d1\u30ea\u30c6\u30a3\u3092\u6301\u3064\u3068\u3044\u3046\u70b9\u3067\u3001\u79c1\u305f\u3061\u306f\u3053\u306e\u6a5f\u4f1a\u306b\u975e\u5e38\u306b\u8208\u596e\u3057\u3066\u3044\u307e\u3059\u3002\u8a66\u9a13\u904b\u7528\u306f\u307e\u3060\u59cb\u307e\u3063\u305f\u3070\u304b\u308a\u3067\u3001\u305d\u308c\u306b\u3064\u3044\u3066\u306f\u307e\u3060\u30b3\u30e1\u30f3\u30c8\u3067\u304d\u307e\u305b\u3093\u3002<\/p>\n<p>\u30ed\u30d6\u30fb\u30d5\u30a9\u30fc\u30c9<\/p>\n<p>\u4e86\u89e3\u3057\u307e\u3057\u305f\u3002\u8907\u6570\u306e\u5546\u54c1\u30921\u3064\u306e\u5c0f\u5305\u306b\u5165\u308c\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u304c\u3001\u30da\u30c9\u30ed\u3055\u3093\u3001\u914d\u9001\u30b3\u30b9\u30c8\u3084\u5728\u5eab\u306e\u96c6\u4e2d\u5316\u3001\u5009\u5eab\u7db2\u306e\u6574\u5099\u306a\u3069\u3001\u3069\u306e\u3088\u3046\u306a\u5f71\u97ff\u304c\u3042\u308b\u304b\u6559\u3048\u3066\u3044\u305f\u3060\u3051\u307e\u3059\u304b\uff1f<\/p>\n<p>Pedro Arnt &#8212; \u6700\u9ad8\u8ca1\u52d9\u8cac\u4efb\u8005<\/p>\n<p>\u3082\u3061\u308d\u3093\u30011\u56de\u3042\u305f\u308a\u306e\u8cfc\u5165\u6570\u3092\u5897\u3084\u3059\u3053\u3068\u306f\u3001\u30b3\u30b9\u30c8\u524a\u6e1b\u3092\u7d99\u7d9a\u3059\u308b\u4e0a\u3067\u6700\u3082\u91cd\u8981\u306a\u539f\u52d5\u529b\u306e1\u3064\u3067\u3042\u308b\u3053\u3068\u306f\u9593\u9055\u3044\u3042\u308a\u307e\u305b\u3093\u3002\u3082\u3061\u308d\u3093\u3001\u5728\u5eab\u306e\u96c6\u4e2d\u5316\u3001\u3064\u307e\u308aMELI\u306b\u3088\u308b\u30d5\u30eb\u30d5\u30a3\u30eb\u30e1\u30f3\u30c8\u3092\u5f15\u304d\u7d9a\u304d\u63a1\u7528\u3057\u3001\u30a4\u30f3\u30c6\u30ea\u30b8\u30a7\u30f3\u30c8\u306a\u5728\u5eab\u30ed\u30b1\u30fc\u30b7\u30e7\u30f3\u3068\u7d44\u307f\u5408\u308f\u305b\u308b\u3053\u3068\u3067\u3001\u5206\u5272\u8cfc\u5165\uff08\u3042\u308b\u5546\u54c1\u3092\u3042\u308bFC\u304b\u3089\u3001\u540c\u3058\u30b7\u30e7\u30c3\u30d4\u30f3\u30b0\u30ab\u30fc\u30c8\u306e\u5225\u306e\u5546\u54c1\u3092\u5225\u306eFC\u304b\u3089\u51fa\u8377\u3059\u308b\uff09\u3092\u6e1b\u3089\u3059\u80fd\u529b\u3092\u3055\u3089\u306b\u5411\u4e0a\u3055\u305b\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3057\u3001\u3053\u308c\u306f\u4eca\u3001\u79c1\u305f\u3061\u304c\u6700\u3082\u91cd\u8996\u3057\u3066\u3044\u308b\u3053\u3068\u3067\u3059\u3002\u3053\u308c\u306f\u3001\u307b\u3068\u3093\u3069\u306e\u30ab\u30c6\u30b4\u30ea\u30fc\u306b\u30d7\u30e9\u30b9\u306e\u5f71\u97ff\u3092\u4e0e\u3048\u307e\u3059\u304c\u3001CPG\u3084\u98df\u6599\u54c1\u306a\u3069\u3001\u30d0\u30b9\u30b1\u30c3\u30c8\u3042\u305f\u308a\u306e\u5546\u54c1\u6570\u304c\u591a\u3044\u30ab\u30c6\u30b4\u30ea\u30fc\u306b\u306f\u3088\u308a\u5927\u304d\u306a\u5f71\u97ff\u3092\u4e0e\u3048\u307e\u3059\u3002<\/p>\n<p>\u305d\u306e\u305f\u3081\u3001\u98df\u6599\u54c1\u3084\u3053\u308c\u3089\u306e\u30ab\u30c6\u30b4\u30ea\u30fc\u306e\u7d4c\u6e08\u6027\u304c\u9ad8\u307e\u308c\u3070\u9ad8\u307e\u308b\u307b\u3069\u3001\u3088\u308a\u65e9\u304f\u52a0\u901f\u3055\u305b\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002\u307e\u305f\u3001\u3053\u308c\u3089\u306e\u30ab\u30c6\u30b4\u30ea\u30fc\u306f\u3053\u306e\u5730\u57df\u306e\u6d88\u8cbb\u8005\u306e\u8ca1\u5e03\u306b\u5360\u3081\u308b\u5272\u5408\u304c\u9ad8\u304f\u3001\u30a8\u30f3\u30b2\u30fc\u30b8\u30e1\u30f3\u30c8\u3068\u30ea\u30ab\u30d0\u30ea\u30fc\u306b\u91cd\u8981\u306a\u30ab\u30c6\u30b4\u30ea\u30fc\u3067\u3042\u308b\u3053\u3068\u306f\u660e\u3089\u304b\u3067\u3059\u3002\u3067\u3059\u304b\u3089\u3001\u3053\u308c\u306f\u30ed\u30b8\u30b9\u30c6\u30a3\u30af\u30b9\u30fb\u30c1\u30fc\u30e0\u304c\u91cd\u70b9\u7684\u306b\u53d6\u308a\u7d44\u3080\u5206\u91ce\u3067\u3042\u308a\u30011\u3064\u306eFC\u304b\u3089\u51fa\u8377\u3055\u308c\u308b1\u7bb1\u306e\u5546\u54c1\u3092\u5897\u3084\u3059\u80fd\u529b\u3092\u5f15\u304d\u7d9a\u304d\u5411\u4e0a\u3055\u305b\u308b\u305f\u3081\u306b\u3001\u4eca\u5e74\u3044\u3063\u3071\u3044\u306f\u71b1\u5fc3\u306b\u53d6\u308a\u7d44\u3080\u3079\u304d\u3082\u306e\u3067\u3059\u3002<\/p>\n<p>\u30ed\u30d6\u30fb\u30d5\u30a9\u30fc\u30c9<\/p>\n<p>\u3068\u3066\u3082\u53c2\u8003\u306b\u306a\u308a\u307e\u3057\u305f\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002\u305d\u3057\u3066\u6539\u3081\u3066\u3001\u304a\u3081\u3067\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002<\/p>\n<p>\u30aa\u30da\u30ec\u30fc\u30bf\u30fc<\/p>\n<p>\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u6b21\u306e\u8cea\u554f\u306fJP\u30e2\u30eb\u30ac\u30f3\u306e\u30de\u30eb\u30bb\u30ed\u30fb\u30b5\u30f3\u30c8\u30b9\u304b\u3089\u3067\u3059\u3002\u3069\u3046\u305e\u3088\u308d\u3057\u304f\u304a\u9858\u3044\u3044\u305f\u3057\u307e\u3059\u3002<\/p>\n<p>\u30de\u30eb\u30bb\u30ed\u30fb\u30b5\u30f3\u30c8\u30b9 &#8212; J.P.\u30e2\u30eb\u30ac\u30f3 &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u3053\u3093\u306b\u3061\u306f\u3001\u3053\u3093\u3070\u3093\u306f\u3002\u79c1\u306e\u8cea\u554f\u306b\u7b54\u3048\u3066\u304f\u308c\u3066\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u30022\u3064\u3042\u308a\u307e\u3059\u30021\u3064\u76ee\u306f\u3001\u30af\u30ec\u30b8\u30c3\u30c8\u5546\u54c1\u306e\u4e0d\u826f\u50b5\u6a29\u306b\u3064\u3044\u3066\u3001\u5404\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u3088\u3046\u306b\u540c\u3058\u5546\u54c1\u30d9\u30fc\u30b9\u3067\u3069\u306e\u3088\u3046\u306b\u63a8\u79fb\u3057\u3066\u3044\u308b\u306e\u304b\u3001\u6559\u3048\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n<p>\u307e\u305f\u3001\u524d\u56db\u534a\u671f\u6bd4\u3067\u5897\u52a0\u3057\u305f\u8981\u56e0\u306e\u3046\u3061\u3001\u3069\u308c\u3060\u3051\u304c\u30df\u30c3\u30af\u30b9\u306e\u5909\u5316\u306b\u3088\u308b\u3082\u306e\u3067\u3001\u3069\u308c\u3060\u3051\u304c\u30de\u30af\u30ed\u30b7\u30ca\u30ea\u30aa\u306e\u5f71\u97ff\u306b\u3088\u308b\u3082\u306e\u306a\u306e\u304b\u3001\u6559\u3048\u3066\u304f\u3060\u3055\u3044\u30022\u3064\u76ee\u306e\u8cea\u554f\u3067\u3059\u304c\u3001\u30ed\u30b8\u30b9\u30c6\u30a3\u30af\u30b9\u306e\u30de\u30cd\u30bf\u30a4\u30ba\u3092\u9ad8\u3081\u308b\u305f\u3081\u306e\u53d6\u308a\u7d44\u307f\u306b\u3064\u3044\u3066\u6559\u3048\u3066\u304f\u3060\u3055\u3044\u3002\u3053\u308c\u307e\u3067\u3069\u306e\u3088\u3046\u306a\u53d6\u308a\u7d44\u307f\u3092\u884c\u3063\u3066\u304d\u307e\u3057\u305f\u304b\uff1f\u307e\u305f\u3001\u4eca\u5e74\u306e\u6b8b\u308a\u306e\u671f\u9593\u306b\u306f\u3069\u306e\u3088\u3046\u306a\u3053\u3068\u304c\u5f85\u3061\u53d7\u3051\u3066\u3044\u308b\u306e\u3067\u3057\u3087\u3046\u304b\uff1f\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002<\/p>\n<p>Osvaldo Gimenez &#8212; Mercado Pago\u306e\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\u3067\u3059\u3002<\/p>\n<p>\u30de\u30eb\u30bb\u30ed \u4e0d\u826f\u50b5\u6a29\u306b\u3064\u3044\u3066\u3067\u3059\u304c\u3001\u65b9\u5411\u6027\u3068\u3057\u3066\u306f\u3001\u3055\u307e\u3056\u307e\u306a\u8981\u56e0\u304c\u91cd\u306a\u3063\u3066\u3001\u30d3\u30b8\u30cd\u30b9\u304c\u3069\u306e\u3088\u3046\u306b\u9032\u5316\u3057\u3066\u3044\u308b\u304b\u306b\u975e\u5e38\u306b\u81ea\u4fe1\u3092\u6301\u3063\u3066\u3044\u308b\u3068\u8a00\u3048\u308b\u3067\u3057\u3087\u3046\u3002\u4e0d\u826f\u50b5\u6a29\u304c\u5c11\u3057\u5897\u3048\u3066\u3044\u307e\u3059\u304c\u3001\u3053\u308c\u306f\u307b\u3068\u3093\u3069\u3001\u30de\u30fc\u30c1\u30e3\u30f3\u30c8\u4e8b\u696d\u3088\u308a\u3082\u30b3\u30f3\u30b7\u30e5\u30fc\u30de\u30fc\u4e8b\u696d\u306e\u65b9\u304c\u65e9\u304f\u6210\u9577\u3057\u3066\u3044\u308b\u305f\u3081\u3067\u3001\u305d\u306e\u30ea\u30b9\u30af\u306f\u3059\u3067\u306b\u30d7\u30e9\u30a4\u30b7\u30f3\u30b0\u3057\u3066\u3044\u307e\u3059\u3002\u3067\u3059\u304b\u3089\u3001\u30b9\u30d7\u30ec\u30c3\u30c9\u306f\u304b\u306a\u308a\u4e00\u5b9a\u3057\u3066\u3044\u307e\u3059\u3002\u4e88\u60f3\u5916\u306e\u3053\u3068\u306f\u4f55\u3082\u3042\u308a\u307e\u305b\u3093\u3067\u3057\u305f\u3002<\/p>\n<p>\u3053\u308c\u306f2\u3064\u306e\u8981\u56e0\u306b\u95a2\u9023\u3057\u3066\u3044\u307e\u3059\u30021\u3064\u306f\u3001\u5148\u307b\u3069\u7533\u3057\u4e0a\u3052\u305f\u3088\u3046\u306b\u3001\u6d88\u8cbb\u8005\u5411\u3051\u30d3\u30b8\u30cd\u30b9\u306e\u30dc\u30ea\u30e5\u30fc\u30e0\u304c\u5897\u52a0\u3057\u3066\u3044\u308b\u3053\u3068\u3067\u3059\u3002\u7279\u306b\u3001\u4eca\u3059\u3050\u8cb7\u3063\u3066\u5f8c\u3067\u6255\u3046\u3088\u308a\u3082\u3001\u500b\u4eba\u5411\u3051\u30ed\u30fc\u30f3\u304c\u5897\u3048\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u306f\u5c11\u3057\u30ea\u30b9\u30af\u304c\u9ad8\u304f\u3001\u4fa1\u683c\u3082\u9ad8\u304f\u306a\u308b\u3053\u3068\u304c\u308f\u304b\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u307e\u305f\u3001\u30af\u30ec\u30b8\u30c3\u30c8\u30fb\u30ab\u30fc\u30c9\u306e\u30b7\u30a7\u30a2\u304c\u62e1\u5927\u3057\u3066\u3044\u308b\u3053\u3068\u3082\u95a2\u4fc2\u3057\u3066\u3044\u307e\u3059\u3002\u3057\u304b\u3057\u3001\u3053\u308c\u306f\u79c1\u305f\u3061\u306e\u671f\u5f85\u901a\u308a\u306b\u9032\u3093\u3067\u3044\u308b\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n<p>Marcelo Santos &#8212; J.P.\u30e2\u30eb\u30ac\u30f3 &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002<\/p>\n<p>\u30aa\u30da\u30ec\u30fc\u30bf\u30fc<\/p>\n<p>\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u6b21\u306e\u8cea\u554f\u8005\u306f&#8211;\u3002<\/p>\n<p>Pedro Arnt &#8212; \u6700\u9ad8\u8ca1\u52d9\u8cac\u4efb\u8005<\/p>\n<p>\u3059\u307f\u307e\u305b\u3093\u3001\u9055\u3044\u307e\u3059\u3002\u3059\u307f\u307e\u305b\u3093\u3001\u8cea\u554f\u306b\u7b2c\u4e8c\u90e8\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>\u30aa\u30da\u30ec\u30fc\u30bf\u30fc<\/p>\n<p>\u3059\u307f\u307e\u305b\u3093\u3002<\/p>\n<p>Pedro Arnt &#8212; \u6700\u9ad8\u8ca1\u52d9\u8cac\u4efb\u8005<\/p>\n<p>\u30d5\u30eb\u30d5\u30a3\u30eb\u30e1\u30f3\u30c8\u306e\u53ce\u76ca\u5316\u3068\u3044\u3046\u70b9\u3067\u306f\u3001\u307e\u3060\u521d\u671f\u6bb5\u968e\u306b\u3042\u308b\u3068\u8a00\u3048\u307e\u3059\u3002\u73fe\u5728\u3001\u30b3\u30de\u30fc\u30b9\u53ce\u76ca\u5168\u4f53\u304b\u3089\u898b\u308c\u3070\u3001\u305d\u308c\u306f\u53d6\u308b\u306b\u8db3\u3089\u306a\u3044\u3082\u306e\u3067\u3059\u30021%\u306b\u3082\u6e80\u305f\u306a\u3044\u306e\u3067\u3059\u3002\u307e\u305f\u3001\u5009\u5eab\u306e\u5bb9\u91cf\u3092\u6709\u52b9\u306b\u6d3b\u7528\u3067\u304d\u3066\u3044\u306a\u3044\u56de\u8ee2\u7387\u306e\u4f4e\u3044\u5728\u5eab\u306b\u5bfe\u3057\u3066\u3001\u3053\u308c\u307e\u3067\u307b\u3068\u3093\u3069\u8ab2\u91d1\u3092\u958b\u59cb\u3057\u3066\u3044\u307e\u305b\u3093\u3002<\/p>\n<p>\u307e\u305f\u3001\u30d5\u30eb\u30d5\u30a3\u30eb\u30e1\u30f3\u30c8\u30bb\u30f3\u30bf\u30fc\u3092\u6709\u6599\u3067\u5229\u7528\u3059\u308b\u305f\u3081\u306e\u30ec\u30f3\u30bf\u30eb\u30b9\u30da\u30fc\u30b9\u3082\u3001\u3053\u3053\u6570\u30ab\u6708\u3067\u3088\u3046\u3084\u304f\u5c0e\u5165\u3057\u307e\u3057\u305f\u3002\u30d5\u30eb\u30d5\u30a3\u30eb\u30e1\u30f3\u30c8\u30bb\u30f3\u30bf\u30fc\u3092\u6709\u6599\u3067\u5229\u7528\u3067\u304d\u308b\u3088\u3046\u306b\u306a\u3063\u305f\u308f\u3051\u3067\u3059\u304c\u3001\u3053\u308c\u306b\u5bfe\u3059\u308b\u8ca9\u58f2\u5e97\u306e\u53cd\u5fdc\u304c\u3069\u3046\u306a\u306e\u304b\u3001\u30d5\u30eb\u30d5\u30a3\u30eb\u30e1\u30f3\u30c8\u306e\u5c0e\u5165\u62e1\u5927\u306b\u60aa\u5f71\u97ff\u304c\u306a\u3044\u306e\u304b\u3001\u4eca\u5f8c\u6570\u56db\u534a\u671f\u306b\u308f\u305f\u3063\u3066\u304a\u77e5\u3089\u305b\u3057\u3066\u3044\u304d\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002\u3053\u308c\u307e\u3067\u306e\u3068\u3053\u308d\u3001\u7ba1\u7406\u4e0d\u5341\u5206\u306a\u5728\u5eab\u306b\u5bfe\u3059\u308b\u8acb\u6c42\u306f\u3001\u5009\u5eab\u5185\u306e\u56de\u8ee2\u7387\u306e\u4f4e\u3044\u5728\u5eab\u3092\u6e1b\u3089\u3059\u306e\u306b\u5f79\u7acb\u3063\u3066\u304a\u308a\u3001\u975e\u5e38\u306b\u30dd\u30b8\u30c6\u30a3\u30d6\u306a\u7d50\u679c\u3068\u306a\u3063\u3066\u3044\u307e\u3059\u3002\u30d5\u30eb\u30d5\u30a3\u30eb\u30e1\u30f3\u30c8\u6bd4\u7387\u306f\u3001\u3054\u89a7\u306e\u3068\u304a\u308a\u3001\u3084\u3084\u6a2a\u3070\u3044\u3067\u306f\u3042\u308a\u307e\u3059\u304c\u3001\u3053\u308c\u306f\u30d5\u30eb\u30d5\u30a3\u30eb\u30e1\u30f3\u30c8\u304c\u727d\u5f15\u3057\u3066\u3044\u308b\u308f\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n<p>\u4ed6\u306e\u8981\u56e0\u306b\u3088\u3063\u3066\u3082\u305f\u3089\u3055\u308c\u3066\u3044\u308b\u306e\u3067\u3059\u3002\u3064\u307e\u308a\u3001\u975e\u5e38\u306b\u3046\u307e\u304f\u3044\u3063\u3066\u3044\u308b\u306e\u3067\u3059\u3002\u30d5\u30eb\u30d5\u30a3\u30eb\u30e1\u30f3\u30c8\u3092\u5229\u7528\u3059\u308b\u305f\u3081\u306e\u30ec\u30f3\u30bf\u30eb\u304c\u5c0e\u5165\u3055\u308c\u3001\u30d5\u30eb\u30d5\u30a3\u30eb\u30e1\u30f3\u30c8 by MELI\u306e\u30b5\u30fc\u30d3\u30b9\u6599\u304c\u3069\u3046\u306a\u308b\u304b\u306f\u3001\u3053\u308c\u304b\u3089\u307e\u305f\u898b\u3066\u3044\u304b\u306a\u3051\u308c\u3070\u306a\u308a\u307e\u305b\u3093\u304c\u3001\u3053\u308c\u306f\u975e\u5e38\u306b\u65e9\u3044\u6bb5\u968e\u3067\u306e\u8a71\u3067\u3059\u3002<\/p>\n<p>Marcelo Santos &#8212; J.P. Morgan &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u3042\u308a\u304c\u3068\u3046\u3001\u30da\u30c9\u30ed\u3002<\/p>\n<p>\u30aa\u30da\u30ec\u30fc\u30bf\u30fc<\/p>\n<p>\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002\u6b21\u306e\u8cea\u554f\u306f\u3001UBS\u306eKaio Prato\u3055\u3093\u304b\u3089\u3067\u3059\u3002\u304a\u5f85\u305f\u305b\u3057\u307e\u3057\u305f\u3002<\/p>\n<p>\u30ab\u30a4\u30aa\u30fb\u30d7\u30e9\u30fc\u30c8 &#8212; UBS &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u7686\u3055\u3093\u3001\u3053\u3093\u306b\u3061\u306f\u3002\u304a\u3084\u3059\u307f\u306a\u3055\u3044\u3002\u79c1\u306e\u8cea\u554f\u3092\u53d7\u3051\u3066\u304f\u3060\u3055\u3063\u3066\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u79c1\u306e\u8cea\u554f\u306f\u3001\u30e1\u30eb\u30ab\u30c9\u306e\u30af\u30ec\u30b8\u30c3\u30c8\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u306b\u95a2\u9023\u3059\u308b\u3082\u306e\u3067\u3059\u3002<\/p>\n<p>\u73fe\u5728\u3001\u4e0d\u826f\u50b5\u6a29\u304c\u5897\u52a0\u3057\u3066\u3044\u308b\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u30af\u30ec\u30b8\u30c3\u30c8\u30fb\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3092\u62e1\u5927\u3057\u7d9a\u3051\u308b\u3053\u3068\u304c\u3067\u304d\u308b\u3068\u3044\u3046\u78ba\u4fe1\u306e\u6839\u62e0\u306f\u4f55\u306a\u306e\u304b\u3001\u7406\u89e3\u3057\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002\u307e\u305f\u3001\u30ea\u30b9\u30af\u30e2\u30c7\u30eb\u306b\u3064\u3044\u3066\u3001\u30a2\u30f3\u30c0\u30fc\u30e9\u30a4\u30c6\u30a3\u30f3\u30b0\u306b\u5f79\u7acb\u3064\u30de\u30fc\u30b1\u30c3\u30c8\u30d7\u30ec\u30a4\u30b9\u306e\u30c7\u30fc\u30bf\u306b\u3088\u308a\u3001\u4ed6\u306e\u30d5\u30a3\u30f3\u30c6\u30c3\u30af\u4f01\u696d\u306b\u5bfe\u3057\u3066\u512a\u4f4d\u6027\u304c\u3042\u308b\u3068\u304a\u8003\u3048\u306a\u306e\u304b\u3001\u305d\u308c\u3068\u3082\u4ed6\u306e\u7406\u7531\u304c\u3042\u308b\u306e\u304b\u3001\u3088\u308a\u6df1\u304f\u7406\u89e3\u3057\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002\u6700\u5f8c\u306b\u3001\u30af\u30ec\u30b8\u30c3\u30c8\u4e8b\u696d\u306b\u304a\u3044\u3066\u3001\u511f\u5374\u7387\u306e\u4e0a\u6607\u306b\u4f34\u3046\u6599\u7387\u306e\u5f15\u304d\u4e0a\u3052\u304c\u3042\u308b\u306e\u304b\u3069\u3046\u304b\u3001\u305d\u306e\u70b9\u306b\u3064\u3044\u3066\u3082\u7406\u89e3\u3057\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002<\/p>\n<p>\u30da\u30c9\u30ed\u30fb\u30a2\u30f3\u30c8 &#8212; 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Gimenez &#8212; Mercado Pago\u306e\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\u3067\u3059\u3002<\/p>\n<p>\u4eca\u65e5\u3001\u57fa\u672c\u7684\u306b3\u3064\u306e\u4e3b\u8981\u306a\u5546\u54c1\u3001\u3064\u307e\u308a\u30aa\u30f3\u30e9\u30a4\u30f3\u30de\u30fc\u30c1\u30e3\u30f3\u30c8\u30ed\u30fc\u30f3\u3001\u30aa\u30d5\u30e9\u30a4\u30f3\u30de\u30fc\u30c1\u30e3\u30f3\u30c8\u30ed\u30fc\u30f3\u3001\u6d88\u8cbb\u8005\u91d1\u878d\u3092\u88dc\u5b8c\u3057\u3066\u3044\u307e\u3059\u3002\u30a2\u30eb\u30bc\u30f3\u30c1\u30f3\u3001\u30d6\u30e9\u30b8\u30eb\u3001\u30e1\u30ad\u30b7\u30b3\u306e3\u30ab\u56fd\u3067\u306f\u3001\u3053\u308c\u30899\u3064\u306e\u30bb\u30b0\u30e1\u30f3\u30c8\u3059\u3079\u3066\u3067\u5229\u76ca\u3092\u4e0a\u3052\u3066\u3044\u307e\u3059\u3002\u3067\u3059\u304b\u3089\u3001\u4eca\u5f8c\u3082\u9ed2\u5b57\u304c\u7d9a\u304f\u3068\u78ba\u4fe1\u3057\u3066\u3044\u307e\u3059\u3002\u305d\u3057\u3066\u3053\u308c\u306f\u3001\u6628\u5e74\u6765\u306eSelic\u304c2.75%\u304b\u308912.75%\u306b\u4e0a\u6607\u3057\u305f\u74b0\u5883\u4e0b\u3067\u306e\u8a71\u3067\u3059\u3002<\/p>\n<p>\u30ab\u30a4\u30aa\u30fb\u30d7\u30e9\u30c8\u30fc &#8212; UBS &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u306f\u3044\u3001\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u653f\u7b56\u91d1\u5229\u306e\u70b9\u3067\u30d5\u30a9\u30ed\u30fc\u30a2\u30c3\u30d7\u3092\u304a\u9858\u3044\u3057\u307e\u3059\u3002\u30af\u30ec\u30b8\u30c3\u30c8\u5546\u54c1\u3067\u306f\u3001\u3053\u306eSelic\u91d1\u5229\u306e\u4e0a\u6607\u306b\u3088\u308a\u3001\u91d1\u5229\u624b\u6570\u6599\u3082\u5897\u52a0\u3057\u3066\u3044\u308b\u306e\u304b\u3069\u3046\u304b\u3001\u7406\u89e3\u3057\u305f\u3044\u306e\u3067\u3059\u3002<\/p>\n<p>\u30da\u30c9\u30ed\u30fb\u30a2\u30fc\u30f3\u30c8 &#8212; 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&#8212; UBS &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>OK\u3001\u7d20\u6674\u3089\u3057\u3044\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002<\/p>\n<p>\u30aa\u30da\u30ec\u30fc\u30bf\u30fc<\/p>\n<p>\u6b21\u306e\u8cea\u554f\u306f\u30a6\u30eb\u30d5\u30fb\u30ea\u30b5\u30fc\u30c1\u306e\u30c7\u30a3\u30fc\u30d1\u30c3\u30af\u30fb\u30de\u30c6\u30a3\u30d0\u30ca\u30f3\u304b\u3089\u3067\u3059\u3002\u304a\u5f85\u305f\u305b\u3057\u307e\u3057\u305f\u3002<\/p>\n<p>Deepak Mathivanan &#8212; \u30a6\u30eb\u30d5\u30fb\u30ea\u30b5\u30fc\u30c1 &#8212; 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\u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u6c7a\u7b97\u304a\u3081\u3067\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u30b9\u30e9\u30a4\u30c99\u3068\u30b9\u30e9\u30a4\u30c917\u306e\u7d44\u307f\u5408\u308f\u305b\u306b\u3064\u3044\u3066\u304a\u805e\u304d\u3057\u305f\u3044\u306e\u3067\u3059\u304c\u3002\u30b9\u30e9\u30a4\u30c99\u3067\u306f\u3001\u30aa\u30d5\u30fb\u30d7\u30e9\u30c3\u30c8\u30d5\u30a9\u30fc\u30e0\u306e\u6210\u9577\u304c\u793a\u3055\u308c\u3066\u3044\u307e\u3059\u306d\u3002<\/p>\n<p>\u3053\u308c\u306fTPV\u306e\u30aa\u30d5\u30de\u30fc\u30b1\u30c3\u30c8\u30d7\u30ec\u30a4\u30b9\u3067\u3059\u304c\u3001\u73fe\u572868%\u307e\u3067\u4e0a\u6607\u3057\u3066\u304a\u308a\u3001\u5408\u8a08\u3067\u306f103%\u307e\u3067\u4e0a\u6607\u3057\u3066\u3044\u307e\u3059\u3002\u30da\u30c9\u30ed\uff1a\u30aa\u30d5\u30fb\u30d7\u30e9\u30c3\u30c8\u30d5\u30a9\u30fc\u30e0\u306f\u672c\u8cea\u7684\u306b\u4ed6\u306e\u3082\u306e\u3068\u9055\u3046\u306e\u3067\u3057\u3087\u3046\u304b\uff1f\u307e\u305f\u3001\u305d\u308c\u306b\u95a2\u9023\u3057\u3066\u3001\u30d5\u30a3\u30f3\u30c6\u30c3\u30af\u30fb\u30c6\u30a4\u30af\u30ec\u30fc\u30c8\u306e65\u30d9\u30fc\u30b7\u30b9\u30dd\u30a4\u30f3\u30c8\u306e\u4e0a\u6607\u306b\u3064\u3044\u3066\u3067\u3059\u304c\u3001\u30af\u30ec\u30b8\u30c3\u30c8\u3068\u305d\u306e\u4ed6\u306b\u5206\u89e3\u3055\u308c\u3066\u3044\u308b\u306e\u306f\u627f\u77e5\u3057\u3066\u3044\u307e\u3059\u3002\u30d7\u30e9\u30a4\u30b7\u30f3\u30b0\u3092\u8003\u3048\u308b\u4e0a\u3067\u5c11\u3057\u53c2\u8003\u306b\u306a\u308c\u3070\u3068\u601d\u3044\u307e\u3059\u304c\u3001\u59a5\u5f53\u306a\u8cea\u554f\u3060\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n<p>\u306a\u305c\u3001\u30d5\u30a3\u30f3\u30c6\u30c3\u30af\u306e\u30c6\u30a4\u30af\u30ec\u30fc\u30c8\u304c\u305d\u3053\u307e\u3067\u4e0a\u304c\u3063\u3066\u3044\u308b\u306e\u3067\u3057\u3087\u3046\u304b\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002<\/p>\n<p>\u30da\u30c9\u30ed\u30fb\u30a2\u30fc\u30f3\u30c8 &#8212; \u6700\u9ad8\u8ca1\u52d9\u8cac\u4efb\u8005<\/p>\n<p>\u3067\u306f\u3001\u30c6\u30a4\u30af\u30ec\u30fc\u30c8\u306e\u8cea\u554f\u306b\u3064\u3044\u3066\u306f\u30aa\u30ba\u30ef\u30eb\u30c9\u306b\u7b54\u3048\u3066\u3082\u3089\u3046\u3053\u3068\u306b\u3057\u307e\u3059\u3002\u4e00\u822c\u7684\u306b\u3001\u4eca\u65e5\u306e\u30aa\u30d5\u30de\u30fc\u30b1\u30c3\u30c8\u306eTPV\u306f\u3001\u30a2\u30af\u30ef\u30a4\u30a2\u30ea\u30f3\u30b0\u30d3\u30b8\u30cd\u30b9\u3067\u306f\u306a\u304f\u3001\u30d7\u30ed\u30bb\u30c3\u30b7\u30f3\u30b0\u30d3\u30b8\u30cd\u30b9\u306b\u3088\u308b\u52a0\u901f\u304c\u5927\u304d\u304f\u3001\u727d\u5f15\u3057\u3066\u3044\u308b\u3068\u8a00\u3048\u307e\u3059\u3002\u305d\u306e\u591a\u304f\u306f\u3001\u5f53\u793e\u306e\u30a6\u30a9\u30ec\u30c3\u30c8\uff08\u8ca1\u5e03\uff09\u306b\u652f\u3048\u3089\u308c\u3066\u3044\u307e\u3059\u3002\u30a6\u30a9\u30ec\u30c3\u30c8\u306f\u3001MPOS\u4e8b\u696d\u3068\u540c\u69d8\u3001\u666f\u6c17\u56de\u5fa9\u306b\u5bfe\u3059\u308b\u81ea\u7136\u306a\u30d8\u30c3\u30b8\u3068\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u7d4c\u6e08\u304c\u518d\u958b\u3055\u308c\u308b\u3068\u3001\u3053\u308c\u3089\u306e\u30d3\u30b8\u30cd\u30b9\u304c\u6210\u9577\u3092\u52a0\u901f\u3055\u305b\u308b\u306e\u3067\u3059\u3002\u30a6\u30a9\u30ec\u30c3\u30c8\u4e8b\u696d\u306f\u3001TPV\u306e\u5e73\u5747\u3088\u308a\u3082\u9ad8\u3044\u30c6\u30a4\u30af\u30ec\u30fc\u30c8\u306e\u30df\u30c3\u30af\u30b9\u3092\u6301\u3064\u4e8b\u696d\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u3067\u3059\u304b\u3089\u3001\u30c6\u30a4\u30af\u30ec\u30fc\u30c8\u306e\u5927\u5e45\u306a\u6539\u5584\u306f\u3001\u3053\u308c\u304b\u3089\u8aac\u660e\u3059\u308b\u30aa\u30ba\u30ef\u30eb\u30c9\u306e\u8aac\u660e\u306b\u3088\u3063\u3066\u8aac\u660e\u3055\u308c\u307e\u3059\u3002<\/p>\n<p>Osvaldo Gimenez &#8212; Mercado Pago\u306e\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\u3067\u3059\u3002<\/p>\n<p>\u3053\u308c\u3089\u306f\u307b\u3068\u3093\u3069\u3001Mercado Pago TPV\u5168\u4f53\u306b\u304a\u3051\u308b\u30af\u30ec\u30b8\u30c3\u30c8\u53ce\u5165\u306e\u5897\u52a0\u3001\u3064\u307e\u308aMercado Pago\u306e\u53ce\u5165\u306b\u95a2\u9023\u3057\u3066\u3044\u307e\u3059\u3002\u305d\u306e\u305f\u3081\u3001\u901a\u5e38\u3068\u540c\u3058\u53d6\u5f15\u53ce\u76ca\u3092\u7dad\u6301\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3057\u305f\u304c\u3001\u30af\u30ec\u30b8\u30c3\u30c8\u53ce\u76ca\u306e\u30b3\u30f3\u30dd\u30fc\u30cd\u30f3\u30c8\u3084\u4ed6\u306e\u3044\u304f\u3064\u304b\u306e\u3082\u306e\u3092\u5897\u52a0\u3055\u305b\u308b\u3053\u3068\u304c\u3067\u304d\u305f\u3068\u8a00\u3048\u307e\u3059\u3002<\/p>\n<p>Jamie Friedman &#8212; Susquehanna International Group &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u4e86\u89e3\u3057\u307e\u3057\u305f\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u307e\u305f\u9806\u756a\u3092\u5f85\u3061\u307e\u3059\u3002<\/p>\n<p>\u30aa\u30da\u30ec\u30fc\u30bf\u30fc<\/p>\n<p>\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u6b21\u306e\u8cea\u554f\u306fBTIG\u306e\u30de\u30fc\u30d3\u30f3\u30fb\u30d5\u30a9\u30f3\u30b0\u304b\u3089\u3067\u3059\u3002\u304a\u5f85\u305f\u305b\u3057\u307e\u3057\u305f\u3002<\/p>\n<p>Marvin Fong &#8212; BTIG &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u7d20\u6674\u3089\u3057\u3044\u3002\u8cea\u554f\u3092\u304a\u53d7\u3051\u3044\u305f\u3060\u304d\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u307e\u305f\u3001\u56db\u534a\u671f\u6c7a\u7b97\u304a\u3081\u3067\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u8cea\u554f\u306f2\u3064\u3042\u308a\u307e\u3059\u3002\u30a6\u30a9\u30ec\u30c3\u30c8\u304c\u597d\u8abf\u3067\u3001\u7279\u306bQR\u6c7a\u6e08\u304c100\uff05\u4ee5\u4e0a\u4f38\u3073\u305f\u3068\u3044\u3046\u304a\u8a71\u306e\u7d9a\u304d\u3092\u304a\u805e\u304d\u3057\u305f\u3044\u306e\u3067\u3059\u304c\u3002<\/p>\n<p>\u3053\u308c\u306f\u4e3b\u306b\u518d\u958b\u767a\u306b\u3088\u308b\u3082\u306e\u3068\u8003\u3048\u3066\u3044\u3044\u306e\u3067\u3057\u3087\u3046\u304b\uff1f\u305d\u308c\u3068\u3082\u3001QR\u6c7a\u6e08\u3092\u52a0\u901f\u3055\u305b\u308b\u4ed6\u306e\u8981\u56e0\u304c\u3042\u3063\u305f\u306e\u3067\u3057\u3087\u3046\u304b\u30022\u3064\u76ee\u306e\u8cea\u554f\u306f\u3001\u30a2\u30eb\u30bc\u30f3\u30c1\u30f3\u306b\u3064\u3044\u3066\u3067\u3059\u3002\u30a2\u30eb\u30bc\u30f3\u30c1\u30f3\u306b\u3064\u3044\u3066\u306f\u3042\u307e\u308a\u89e6\u308c\u3066\u3044\u307e\u305b\u3093\u304c\u30012\u5e74\u9593\u306e\u8ca9\u58f2\u53f0\u6570\u3001GMV\u3068\u3082\u306b\u3001E\u30b3\u30de\u30fc\u30b9\u306e\u9762\u3067\u5927\u304d\u304f\u524d\u9032\u3057\u305f\u3088\u3046\u306b\u898b\u53d7\u3051\u3089\u308c\u307e\u3059\u3002\u30a2\u30eb\u30bc\u30f3\u30c1\u30f3\u3067\u884c\u3063\u3066\u3044\u308b\u3053\u3068\u3067\u3001\u4ed6\u306e\u5730\u57df\u306b\u3082\u5fdc\u7528\u3067\u304d\u308b\u3088\u3046\u306a\u3053\u3068\u304c\u3042\u308c\u3070\u6559\u3048\u3066\u304f\u3060\u3055\u3044\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002<\/p>\n<p>Osvaldo Gimenez &#8212; Mercado Pago\u306e\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\u3067\u3059\u3002<\/p>\n<p>Marvin\u3001\u306f\u3044\u3001\u30a6\u30a9\u30ec\u30c3\u30c8\u306e\u5229\u7528\u304c\u52a0\u901f\u3057\u3066\u3044\u308b\u3068\u8a00\u3048\u308b\u3067\u3057\u3087\u3046\u3002\u304a\u305d\u3089\u304f\u305d\u306e\u4e00\u90e8\u306f\u3001\u6628\u5e74\u306e\u30ed\u30c3\u30af\u30c0\u30a6\u30f3\u306e\u3042\u3063\u305f\u7b2c1\u56db\u534a\u671f\u3068\u6bd4\u8f03\u3059\u308b\u3068\u3001\u57fa\u672c\u7684\u306b\u3059\u3079\u3066\u306e\u56fd\u3067\u306e\u518d\u958b\u306b\u95a2\u9023\u3057\u3066\u3044\u308b\u3068\u601d\u308f\u308c\u307e\u3059\u3002\u3057\u304b\u3057\u3001\u3053\u308c\u306f\u5927\u304d\u306a\u76ee\u6a19\u3067\u3042\u3063\u305f\u3068\u8003\u3048\u3066\u3044\u307e\u3059\u3002\u6628\u5e74\u306f\u3001\u524d\u5e74\u6bd4200\uff05\u3068\u3044\u3046\u30da\u30fc\u30b9\u3067\u6210\u9577\u3057\u305f\u3053\u3068\u306f\u306a\u304b\u3063\u305f\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n<p>\u305d\u3057\u3066\u5927\u304d\u304f\u3001\u3053\u306e\u3088\u3046\u306a\u3053\u3068\u304c\u8d77\u3053\u308a\u307e\u3057\u305f\u3002\u30a2\u30eb\u30bc\u30f3\u30c1\u30f3\u3067\u3082\u5927\u304d\u304f\u6210\u9577\u3057\u307e\u3057\u305f\u3002\u672c\u5f53\u306b\u3001\u79c1\u305f\u3061\u306e\u8ca1\u5e03\u306f\u591a\u304f\u306e\u727d\u5f15\u529b\u3092\u6301\u3061\u3001\u30a2\u30eb\u30bc\u30f3\u30c1\u30f3\u3067\u306f\u304b\u306a\u308a\u591a\u304f\u306e\u5834\u6240\u3067\u4f7f\u308f\u308c\u3066\u3044\u307e\u3059\u3002\u307e\u305f\u3001\u30d6\u30e9\u30b8\u30eb\u3068\u30e1\u30ad\u30b7\u30b3\u3067\u3082\u5927\u304d\u306a\u6210\u9577\u3092\u9042\u3052\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u3053\u306e\u3088\u3046\u306b\u30013\u3064\u306e\u56fd\u3059\u3079\u3066\u3067\u6210\u9577\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>Pedro Arnt &#8212; \u6700\u9ad8\u8ca1\u52d9\u8cac\u4efb\u8005<\/p>\n<p>\u30a2\u30eb\u30bc\u30f3\u30c1\u30f3\u3067\u306f\u3001\u8ca9\u58f2\u53f0\u6570\u3068GMV\u304c\u52a0\u901f\u5ea6\u7684\u306b\u4f38\u3073\u3066\u3044\u307e\u3059\u3002\u30a2\u30eb\u30bc\u30f3\u30c1\u30f3\u304c\u56de\u5fa9\u3057\u3066\u3044\u308b\u306e\u306f\u826f\u3044\u3053\u3068\u3060\u3068\u601d\u3044\u307e\u3059\u3002\u524d2\u56db\u534a\u671f\u3092\u898b\u308b\u3068\u3001\u3053\u306e\u4e8b\u696d\u306f\u3001\u53b3\u3057\u3044\u30b3\u30f3\u30d7\u3084\u305d\u306e\u4ed6\u306e\u8981\u56e0\u306b\u3088\u3063\u3066\u3001\u6b74\u53f2\u7684\u306b\u975e\u5e38\u306b\u597d\u8abf\u3067\u3057\u305f\u304c\u3001\u6210\u9577\u304c\u3084\u3084\u920d\u5316\u3057\u3066\u3044\u307e\u3057\u305f\u3002\u305d\u3057\u3066\u3001\u3053\u306e\u4e8b\u696d\u304b\u3089\u671f\u5f85\u3055\u308c\u308b\u3088\u3046\u306a\u6210\u9577\u304c\u623b\u3063\u3066\u304d\u305f\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n<p>\u3067\u3059\u304b\u3089\u3001\u3053\u308c\u306f\u826f\u3044\u30cb\u30e5\u30fc\u30b9\u3067\u3059\u3002\u597d\u8abf\u306a\u696d\u7e3e\u3067\u3057\u305f\u3002\u3057\u304b\u3057\u3001\u305d\u306e\u524d\u306e2\u3064\u306e\u56db\u534a\u671f\u306f\u3001\u660e\u3089\u304b\u306b\u307b\u3068\u3093\u3069\u306e\u5730\u57df\u3067\u6210\u9577\u304c\u920d\u5316\u3057\u3066\u3044\u305f\u305f\u3081\u3001\u6210\u9577\u3092\u52a0\u901f\u3055\u305b\u308b\u306e\u306f\u304b\u306a\u308a\u7c21\u5358\u3060\u3063\u305f\u3068\u3044\u3046\u3053\u3068\u3082\u8a8d\u8b58\u3057\u3066\u304a\u304f\u5fc5\u8981\u304c\u3042\u308b\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n<p>Marvin Fong &#8212; BTIG &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u7d20\u6674\u3089\u3057\u3044\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002<\/p>\n<p>\u30aa\u30da\u30ec\u30fc\u30bf\u30fc<\/p>\n<p>\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u6b21\u306e\u8cea\u554f\u306f\u30af\u30ec\u30c7\u30a3\u30fb\u30b9\u30a4\u30b9\u306e\u30b9\u30c6\u30a3\u30fc\u30d6\u30f3\u30fb\u30b8\u30e5\u30fc\u304b\u3089\u3067\u3059\u3002\u3088\u308d\u3057\u304f\u304a\u9858\u3044\u3057\u307e\u3059\u3002<\/p>\n<p>Stephen Ju &#8212; Credit Suisse &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u308f\u304b\u308a\u307e\u3057\u305f\u3002\u3042\u308a\u304c\u3068\u3046\u3001\u307f\u3093\u306a \u30da\u30c9\u30ed\u3055\u3093\u3001\u3053\u3093\u306b\u3061\u306f\u3002\u4e00\u6b69\u4e0b\u304c\u3063\u3066\u30013\u4e07\u30d5\u30a3\u30fc\u30c8\u304b\u3089\u898b\u3066\u307f\u307e\u3057\u3087\u3046\u304b\u3002<\/p>\n<p>\u8ca9\u58f2\u696d\u8005\u3068\u306e\u95a2\u4fc2\u3084\u8ca9\u58f2\u3059\u308b\u5546\u54c1\u306e\u6027\u8cea\u306f\u3001\u3053\u3053\u6570\u5e74\u3067\u304b\u306a\u308a\u62e1\u5927\u3057\u3066\u3044\u307e\u3059\u306d\u3002\u6700\u521d\u306f\u30c8\u30e9\u30d5\u30a3\u30c3\u30af\u3068\u30c8\u30e9\u30f3\u30b6\u30af\u30b7\u30e7\u30f3\u3092\u63d0\u4f9b\u3057\u3001\u6b21\u306b\u6c7a\u6e08\u3092\u53ef\u80fd\u306b\u3057\u3001\u4eca\u3067\u306f\u914d\u9001\u3084\u7269\u6d41\u30b5\u30fc\u30d3\u30b9\u3092\u63d0\u4f9b\u3057\u3001\u3055\u3089\u306b\u904b\u8ee2\u8cc7\u91d1\u3082\u63d0\u4f9b\u3059\u308b\u3088\u3046\u306b\u306a\u308a\u307e\u3057\u305f\u3002\u3053\u306e\u3088\u3046\u306b\u3001\u5fa1\u793e\u304c\u52a0\u76df\u5e97\u306b\u5bfe\u3057\u3066\u63d0\u4f9b\u3057\u3066\u3044\u308b\u30b5\u30fc\u30d3\u30b9\u306f\u975e\u5e38\u306b\u591a\u5c90\u306b\u308f\u305f\u308a\u307e\u3059\u3002\u4ee5\u524d\u306f\u3001e\u30b3\u30de\u30fc\u30b9\u30fb\u30d7\u30e9\u30c3\u30c8\u30d5\u30a9\u30fc\u30e0\u306e\u30b5\u30fc\u30d3\u30b9\u3082\u63d0\u4f9b\u3057\u305f\u3044\u3068\u304a\u3063\u3057\u3083\u3063\u3066\u3044\u307e\u3057\u305f\u306d\u3002<\/p>\n<p>\u3067\u306f\u3001\u3059\u3079\u3066\u306e\u30b5\u30fc\u30d3\u30b9\u3092\u7dcf\u5408\u7684\u306b\u307e\u3068\u3081\u3001e\u30b3\u30de\u30fc\u30b9\u30fb\u30a4\u30f3\u30fb\u30a2\u30fb\u30dc\u30c3\u30af\u30b9\u30bf\u30a4\u30d7\u306e\u30b5\u30fc\u30d3\u30b9\u3092\u63d0\u4f9b\u3059\u308b\u3068\u3044\u3046\u70b9\u3067\u306f\u3001\u3069\u306e\u3088\u3046\u306a\u4f4d\u7f6e\u3065\u3051\u306b\u306a\u308b\u306e\u3067\u3057\u3087\u3046\u304b\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002<\/p>\n<p>Pedro Arnt &#8212; \u6700\u9ad8\u8ca1\u52d9\u8cac\u4efb\u8005\uff08CFO<\/p>\n<p>\u30ed\u30b8\u30b9\u30c6\u30a3\u30af\u30b9\u3001\u30da\u30a4\u30e1\u30f3\u30c8\u3001\u30af\u30ec\u30b8\u30c3\u30c8\u3001\u305d\u3057\u3066\u30ea\u30cb\u30e5\u30fc\u30a2\u30eb\u3057\u305f\u30b7\u30e7\u30c3\u30d7\u306e\u30d5\u30ed\u30f3\u30c8\u30a8\u30f3\u30c9\u3001\u3055\u3089\u306b\u30de\u30eb\u30c1\u30c1\u30e3\u30cd\u30eb\u30fb\u30aa\u30da\u30ec\u30fc\u30b7\u30e7\u30f3\u3092\u63a8\u9032\u3059\u308b\u305f\u3081\u306e\u30de\u30fc\u30b1\u30c3\u30c8\u30d7\u30ec\u30a4\u30b9\u3068\u306e\u7d71\u5408\u306a\u3069\u3001\u5f53\u793e\u304c\u69cb\u7bc9\u3057\u305f\u3055\u307e\u3056\u307e\u306a\u8981\u7d20\u3092\u898b\u3066\u307f\u308b\u3068\u3001\u307e\u3059\u307e\u3059\u305d\u3046\u306a\u3063\u3066\u304d\u3066\u3044\u308b\u3068\u601d\u3044\u307e\u3059\u3002\u3053\u306e\u3088\u3046\u306a\u6a5f\u80fd\u3092\u3059\u3079\u3066\u307e\u3068\u3081\u3066\u3001\u3042\u308b\u3044\u306f\u3055\u307e\u3056\u307e\u306a\u7d44\u307f\u5408\u308f\u305b\u3067\u3001\u30de\u30fc\u30b1\u30c3\u30c8\u30d7\u30ec\u30a4\u30b9\u304b\u3089\u96e2\u308c\u305f\u5834\u6240\u306b\u3044\u308b\u30de\u30fc\u30c1\u30e3\u30f3\u30c8\u306b\u3082\u63d0\u4f9b\u3067\u304d\u308b\u3088\u3046\u306a\u3001\u3088\u308a\u7a4d\u6975\u7684\u306a\u53d6\u308a\u7d44\u307f\u3092\u59cb\u3081\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002\u3055\u3089\u306b\u3001\u305d\u306e\u4e0a\u306b\u5e83\u544a\u3092\u8f09\u305b\u3066\u3001\u30de\u30fc\u30c1\u30e3\u30f3\u30c8\u304c\u81ea\u5206\u306e\u30b7\u30e7\u30c3\u30d7\u3084MercadoLibre\u306e\u30ea\u30b9\u30c6\u30a3\u30f3\u30b0\u306b\u30c8\u30e9\u30d5\u30a3\u30c3\u30af\u3092\u8a98\u5c0e\u3067\u304d\u308b\u3088\u3046\u306b\u3059\u308c\u3070\u3001\u975e\u5e38\u306b\u5f37\u529b\u306a\u30b3\u30f3\u30d3\u30cd\u30fc\u30b7\u30e7\u30f3\u306b\u306a\u308a\u307e\u3059\u3002<\/p>\n<p>\u7af6\u5408\u4ed6\u793e\u306f\u3001\u6c7a\u6e08\u51e6\u7406\u3084\u30af\u30ec\u30b8\u30c3\u30c8\u3001\u30de\u30fc\u30b1\u30c3\u30c8\u30d7\u30ec\u30a4\u30b9\u3001\u30b9\u30c8\u30a2\u30d5\u30ed\u30f3\u30c8\u3001\u5e83\u544a\u30d7\u30e9\u30c3\u30c8\u30d5\u30a9\u30fc\u30e0\u306a\u3069\u3001\u305d\u308c\u305e\u308c\u306e\u30b5\u30fc\u30d3\u30b9\u3092\u5358\u72ec\u3067\u63d0\u4f9b\u3057\u3066\u3044\u307e\u3059\u304c\u3001\u30a8\u30b3\u30b7\u30b9\u30c6\u30e0\u3068\u3044\u3046\u30a2\u30d7\u30ed\u30fc\u30c1\u306f\u3001\u3053\u308c\u3089\u306e\u30b5\u30fc\u30d3\u30b9\u3092\u8ca9\u58f2\u3059\u308b\u4e0a\u3067\u975e\u5e38\u306b\u5f37\u529b\u306a\u65b9\u6cd5\u3060\u3068\u8003\u3048\u3066\u3044\u307e\u3059\u3002\u3067\u3059\u304b\u3089\u3001\u3053\u308c\u306f\u660e\u3089\u304b\u306b\u79c1\u305f\u3061\u304c\u53d6\u308a\u7d44\u3093\u3067\u3044\u308b\u3053\u3068\u3067\u3059\u3002\u3053\u308c\u306f\u79c1\u305f\u3061\u306e\u6226\u7565\u306e\u4e00\u90e8\u3067\u3042\u308a\u3001\u3053\u308c\u3089\u306e\u88fd\u54c1\u304c\u3088\u308a\u591a\u304f\u306e\u5f62\u306b\u306a\u308b\u306b\u3064\u308c\u3066\u3001\u7686\u3055\u3093\u306b\u304a\u77e5\u3089\u305b\u3057\u3066\u3044\u304d\u307e\u3059\u3002\u3059\u3067\u306bPAGO\u306e\u304a\u5ba2\u69d8\u306b\u306f\u3001\u7d71\u5408\u3055\u308c\u305f\u914d\u9001\u30b5\u30fc\u30d3\u30b9\u3092\u63d0\u4f9b\u3057\u3066\u3044\u308b\u3068\u3053\u308d\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>\u307e\u305f\u3001Mercado Shops\u3067\u306f\u3001\u3053\u308c\u3089\u306e\u9867\u5ba2\u306e\u591a\u304f\u306b\u914d\u9001\u30b5\u30fc\u30d3\u30b9\u3092\u63d0\u4f9b\u3057\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u3089\u306e\u88fd\u54c1\u306f\u3059\u3067\u306b\u5e02\u5834\u3067\u8a66\u9a13\u7684\u306b\u5c0e\u5165\u3055\u308c\u3066\u304a\u308a\u3001\u4eca\u5f8c\u3001\u7e70\u308a\u8fd4\u3057\u6539\u826f\u3092\u52a0\u3048\u306a\u304c\u3089\u3001\u3044\u3064\u304b\u306f\u672c\u683c\u7684\u306a\u5c55\u958b\u306b\u8e0f\u307f\u5207\u308b\u3053\u3068\u306b\u306a\u308b\u3067\u3057\u3087\u3046\u3002<\/p>\n<p>Stephen Ju &#8212; Credit Suisse &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u308f\u304b\u308a\u307e\u3057\u305f\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002<\/p>\n<p>\u30aa\u30da\u30ec\u30fc\u30bf\u30fc<\/p>\n<p>\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002[\u30aa\u30da\u30ec\u30fc\u30bf\u30fc\u304b\u3089\u306e\u3054\u6848\u5185] \u6b21\u306f\u30d0\u30fc\u30af\u30ec\u30a4\u30ba\u306e\u30c8\u30ec\u30d0\u30fc\u30fb\u30e4\u30f3\u30b0\u304b\u3089\u306e\u8cea\u554f\u3067\u3059\u3002\u3069\u3046\u305e\u3088\u308d\u3057\u304f\u304a\u9858\u3044\u3057\u307e\u3059\u3002<\/p>\n<p>\u30c8\u30ec\u30d0\u30fc\u30fb\u30e4\u30f3\u30b0 &#8212; \u30d0\u30fc\u30af\u30ec\u30a4\u30ba &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u7d20\u6674\u3089\u3057\u3044\u3001\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u6628\u5e74\u3092\u632f\u308a\u8fd4\u3063\u3066\u307f\u308b\u3068\u3001\u5f93\u696d\u54e1\u6570\u304c\u307b\u307c\u500d\u5897\u3057\u3066\u304a\u308a\u3001\u305d\u306e\u3046\u3061\u306e\u5927\u304d\u306a\u90e8\u5206\u3092\u7814\u7a76\u958b\u767a\u90e8\u9580\u304c\u5360\u3081\u3066\u3044\u307e\u3059\u306d\u3002\u4eca\u5e74\u306b\u5411\u3051\u305f\u4eba\u54e1\u914d\u7f6e\u306b\u3064\u3044\u3066\u3001\u3069\u306e\u3088\u3046\u306b\u304a\u8003\u3048\u3067\u3059\u304b\uff1f\u307e\u305f\u3001\u5927\u898f\u6a21\u306a\u6295\u8cc7\u3092\u898b\u8fbc\u3093\u3067\u3044\u308b\u90e8\u9580\u306f\u3042\u308a\u307e\u3059\u304b\uff1f\u305d\u308c\u3068\u3082\u3001\u5f93\u696d\u54e1\u6570\u306e\u5897\u52a0\u306f\u3053\u3053\u3067\u6e1b\u901f\u3057\u3001\u58f2\u4e0a\u9ad8\u306e\u5897\u52a0\u306b\u3082\u3063\u3068\u8fd1\u3065\u304f\u3068\u4e88\u60f3\u3059\u3079\u304d\u3067\u3057\u3087\u3046\u304b\uff1f<\/p>\n<p>Pedro Arnt &#8212; 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Young &#8212; \u30d0\u30fc\u30af\u30ec\u30a4\u30ba &#8212; 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Street Research\u306eSoomit Datta\u304b\u3089\u3067\u3059\u3002\u3069\u3046\u305e\u3088\u308d\u3057\u304f\u304a\u9858\u3044\u3057\u307e\u3059\u3002<\/p>\n<p>Soomit Datta &#8212; New Street Research &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u3069\u3046\u3082\u3001\u7686\u3055\u3093\u3002\u8cea\u554f\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u30d5\u30a3\u30f3\u30c6\u30c3\u30af\u306b\u3064\u3044\u3066\u3067\u3059\u304c\u3001\u3061\u3087\u3063\u3068\u30d6\u30e9\u30b8\u30eb\u306b\u7126\u70b9\u3092\u3042\u3066\u3066\u3001\u304a\u9858\u3044\u3057\u307e\u3059\u3002\u307e\u305a\u3001PICC\u304c\u30ed\u30f3\u30b0\u30c6\u30fc\u30eb\u3067\u306e\u30c7\u30d3\u30c3\u30c8\u30dc\u30ea\u30e5\u30fc\u30e0\u306b\u4e0e\u3048\u308b\u5f71\u97ff\u306f\u3042\u308a\u307e\u3059\u304b\uff1f\u4eca\u671f\u306e\u30a2\u30af\u30ef\u30a4\u30a2\u30e9\u30fc\u306e\u53d6\u5f15\u9ad8\u306f\u975e\u5e38\u306b\u597d\u8abf\u306e\u3088\u3046\u3067\u3059\u306d\u3002<\/p>\n<p>\u3057\u304b\u3057\u3001\u30df\u30c3\u30af\u30b9\u306e\u4e2d\u3067\u3001\u305d\u306e\u5f71\u97ff\u304c\u898b\u3048\u59cb\u3081\u3066\u3044\u308b\u306e\u3067\u3057\u3087\u3046\u304b\u3002\u6b21\u306b\u3001\u6700\u8fd1PICC\u306e\u5206\u5272\u6255\u3044\u30b5\u30fc\u30d3\u30b9\u3092\u958b\u59cb\u3055\u308c\u305f\u3068\u601d\u3044\u307e\u3059\u304c\u3001\u30d6\u30e9\u30b8\u30eb\u306e\u5e02\u5834\u306b\u3082\u3044\u304f\u3064\u304b\u5c0e\u5165\u3055\u308c\u3064\u3064\u3042\u308b\u3088\u3046\u3067\u3059\u3002\u3053\u306e\u88fd\u54c1\u306b\u3069\u306e\u3088\u3046\u306a\u671f\u5f85\u3092\u304a\u6301\u3061\u3067\u3059\u304b\uff1f\u307e\u305f\u3001\u3053\u306e\u88fd\u54c1\u3078\u306e\u671f\u5f85\u3092\u304a\u805e\u304b\u305b\u304f\u3060\u3055\u3044\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002<\/p>\n<p>Osvaldo Gimenez &#8212; Mercado Pago\u306e\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\u3067\u3059\u3002<\/p>\n<p>\u3053\u3093\u306b\u3061\u306f\u3001Soomit\u3002\u6700\u521d\u306e\u8cea\u554f\u3067\u3001PICC\u306b\u3088\u3063\u3066\u5f15\u304d\u843d\u3068\u3057\u306e\u6570\u91cf\u304c\u5f71\u97ff\u3092\u53d7\u3051\u3066\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u304c\u3001\u79c1\u306f\u305d\u3046\u601d\u3044\u307e\u3059\u3002\u73fe\u6bb5\u968e\u3067\u306f\u3001\u308f\u305a\u304b\u306a\u5f71\u97ff\u3068\u8a00\u3048\u308b\u3067\u3057\u3087\u3046\u3002\u304a\u305d\u3089\u304f\u3001\u904e\u53bb\u306b\u5c0f\u3055\u306aPOS\u3084MPOS\u3092\u8cfc\u5165\u3057\u3066\u3044\u305f\u975e\u5e38\u306b\u5c0f\u3055\u306a\u500b\u4eba\u304c\u3001\u6708\u306b\u6570\u56de\u306e\u652f\u6255\u3044\u3092\u30c7\u30d3\u30c3\u30c8\u30ab\u30fc\u30c9\u3067\u53d7\u3051\u3066\u3044\u305f\u305f\u3081\u3001\u305d\u308c\u3092PICC\u3067\u53d7\u3051\u308b\u3053\u3068\u304c\u3067\u304d\u308b\u3088\u3046\u306b\u306a\u308a\u3001\u305d\u306e\u5fc5\u8981\u304c\u306a\u304f\u306a\u3063\u305f\u3068\u3044\u3046\u3053\u3068\u3067\u3057\u3087\u3046\u3002<\/p>\n<p>\u3067\u3082\u3001\u305d\u308c\u306f\u672c\u5f53\u306b\u3054\u304f\u3054\u304f\u5c0f\u3055\u306a\u30ed\u30f3\u30b0\u30c6\u30fc\u30eb\u3067\u3059\u3002\u3067\u3059\u304b\u3089\u3001\u5fc5\u305a\u3057\u3082\u6570\u5b57\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u3066\u3044\u308b\u3068\u306f\u601d\u3048\u307e\u305b\u3093\u3002\u3069\u3061\u3089\u304b\u3068\u3044\u3046\u3068\u3001POS\u306b\u304a\u3051\u308b\u30af\u30ec\u30b8\u30c3\u30c8\u30ab\u30fc\u30c9\u3068\u30c7\u30d3\u30c3\u30c8\u30ab\u30fc\u30c9\u306e\u6bd4\u7387\u304c\u5065\u5168\u306b\u5897\u52a0\u3057\u3066\u3044\u308b\u3088\u3046\u306b\u898b\u3048\u307e\u3059\u3002\u3067\u3059\u304b\u3089\u3001\u591a\u5c11\u306e\u5f71\u97ff\u306f\u3042\u308b\u3068\u601d\u3044\u307e\u3059\u304c\u3001\u975e\u5e38\u306b\u30ed\u30f3\u30b0\u30c6\u30fc\u30eb\u3067\u3059\u3002<\/p>\n<p>\u5927\u898f\u6a21\u306a\u52a0\u76df\u5e97\u306e\u5834\u5408\u3001PICC\u304b\u3089\u5f97\u3089\u308c\u308b\u30dc\u30ea\u30e5\u30fc\u30e0\u306f\u3054\u304f\u308f\u305a\u304b\u3067\u3059\u3002\u305d\u3057\u3066\u3001\u4eca\u3059\u3050\u8cfc\u5165\u3001\u5f8c\u6255\u3044\u3084PICC\u306b\u79fb\u884c\u3057\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u306f\u3059\u3067\u306b\u958b\u767a\u3057\u305f\u88fd\u54c1\u3067\u3001\u307e\u305a\u81ea\u793e\u306e\u52a0\u76df\u5e97\u3067\u30c6\u30b9\u30c8\u3092\u59cb\u3081\u3066\u3044\u307e\u3059\u3002\u79c1\u305f\u3061\u306f\u3001\u3053\u306e\u30c1\u30e3\u30f3\u30b9\u306b\u8208\u596e\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u3064\u307e\u308a\u3001\u79c1\u305f\u3061\u306e\u30a6\u30a9\u30ec\u30c3\u30c8\u3092\u6301\u3063\u3066\u3044\u3066\u3001QR\u30b3\u30fc\u30c9\u3067\u652f\u6255\u304a\u3046\u3068\u3057\u3066\u3044\u308b\u4eba\u306f\u8ab0\u3067\u3082\u3001\u4eca\u306f\u6b8b\u9ad8\u3092\u4fdd\u5b58\u3057\u3066\u3044\u308b\u72b6\u614b\u3067\u652f\u6255\u3048\u308b\u306e\u3067\u3059\u3002\u3057\u304b\u3057\u3001\u5c06\u6765\u7684\u306b\u306f\u3001\u79c1\u305f\u3061\u304c\u305d\u306e\u5834\u3067\u63d0\u4f9b\u3059\u308b\u30af\u30ec\u30b8\u30c3\u30c8\u3067\u3082\u652f\u6255\u3044\u304c\u3067\u304d\u308b\u3088\u3046\u306b\u306a\u308a\u307e\u3059\u3002PICC\u3092\u5c0e\u5165\u3059\u308b\u52a0\u76df\u5e97\u3060\u3051\u3067\u306a\u304f\u3001PICC\u3092\u6301\u3064\u3059\u3079\u3066\u306e\u52a0\u76df\u5e97\u3067\u5229\u7528\u3067\u304d\u308b\u3088\u3046\u306b\u306a\u308b\u306e\u3067\u3001\u4eca\u8cb7\u3063\u3066\u5f8c\u3067\u6255\u3046\u3068\u3044\u3046\u30b5\u30fc\u30d3\u30b9\u3092\u63d0\u4f9b\u3067\u304d\u308b\u52a0\u76df\u5e97\u306e\u7bc4\u56f2\u304c\u5927\u5e45\u306b\u5e83\u304c\u308b\u3068\u8003\u3048\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>Soomit Datta &#8212; New Street Research &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u305d\u308c\u304b\u3089\u3001\u7c21\u5358\u306a\u30d5\u30a9\u30ed\u30fc\u30a2\u30c3\u30d7\u3092\u3055\u305b\u3066\u304f\u3060\u3055\u3044\u3002\u30af\u30ec\u30b8\u30c3\u30c8\u30ab\u30fc\u30c9\u3068\u306e\u5171\u98df\u3044\u306f\u907f\u3051\u3089\u308c\u306a\u3044\u306e\u3067\u3057\u3087\u3046\u304b\u3002\u305d\u308c\u3068\u3082\u3001\u30af\u30ec\u30b8\u30c3\u30c8\u30ab\u30fc\u30c9\u3068\u4e26\u5b58\u3059\u308b\u3053\u3068\u306b\u306a\u308b\u306e\u3067\u3057\u3087\u3046\u304b\uff1f\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002<\/p>\n<p>Osvaldo Gimenez &#8212; Mercado Pago\u306e\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\u3067\u3059\u3002<\/p>\n<p>\u3069\u3061\u3089\u304b\u3068\u3044\u3046\u3068\u3001\u5225\u306e\u30bb\u30b0\u30e1\u30f3\u30c8\u306b\u306a\u308b\u3068\u601d\u3044\u307e\u3059\u3002\u901a\u5e38\u3001\u79c1\u305f\u3061\u306eBuy Now, Pay Later\u306e\u30bf\u30fc\u30b2\u30c3\u30c8\u306e\u307b\u3068\u3093\u3069\u306f\u3001\u30af\u30ec\u30b8\u30c3\u30c8\u30ab\u30fc\u30c9\u3092\u6301\u3063\u3066\u3044\u306a\u3044\u6d88\u8cbb\u8005\u3001\u3042\u308b\u3044\u306f\u30af\u30ec\u30b8\u30c3\u30c8\u30ab\u30fc\u30c9\u306e\u9650\u5ea6\u984d\u3092\u8d85\u3048\u3066\u3057\u307e\u3063\u305f\u6d88\u8cbb\u8005\u3067\u3001\u305d\u306e\u305f\u3081\u8ffd\u52a0\u6599\u91d1\u3092\u652f\u6255\u3046\u3053\u3068\u3092\u671b\u3093\u3067\u3044\u308b\u306e\u3067\u3059\u3002\u30e9\u30c6\u30f3\u30a2\u30e1\u30ea\u30ab\u3067\u306f\u3001\u91d1\u5229\u304c\u9ad8\u3044\u306e\u3067\u3001\u305d\u306e\u5206\u6599\u91d1\u3092\u9ad8\u304f\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u30e9\u30c6\u30f3\u30a2\u30e1\u30ea\u30ab\u3067\u306f\u91d1\u5229\u304c\u9ad8\u3044\u306e\u3067\u3001\u30af\u30ec\u30b8\u30c3\u30c8\u30ab\u30fc\u30c9\u306e\u6b8b\u9ad8\u304c\u3042\u308c\u3070\u3001\u304a\u305d\u3089\u304f\u30af\u30ec\u30b8\u30c3\u30c8\u30ab\u30fc\u30c9\u3092\u4f7f\u3046\u3067\u3057\u3087\u3046\u3002\u3057\u304b\u3057\u3001\u3053\u308c\u306f\u8ca9\u58f2\u6642\u70b9\u3067\u306e\u8cc7\u91d1\u8abf\u9054\u306e\u5e02\u5834\u3092\u62e1\u5927\u3059\u308b\u3082\u306e\u3067\u3059\u3002<\/p>\n<p>Soomit Datta &#8212; New Street Research &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u4e86\u89e3\u3057\u307e\u3057\u305f\u3002\u3068\u3066\u3082\u5206\u304b\u308a\u3084\u3059\u3044\u3067\u3059\u306d\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002<\/p>\n<p>\u30aa\u30da\u30ec\u30fc\u30bf\u30fc<\/p>\n<p>\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u305d\u3057\u3066\u3001\u3053\u306e\u6642\u9593\u3067\u306f\u3001\u3082\u3046\u8cea\u554f\u306f\u8868\u793a\u3055\u308c\u307e\u305b\u3093\u3002\u4f1a\u8b70\u3092CFO\u306ePedro Arnt\u306b\u623b\u3057\u3066\u3001\u9589\u4f1a\u306e\u6328\u62f6\u3092\u304a\u9858\u3044\u3057\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n<p>\u30da\u30c9\u30ed\u30fb\u30a2\u30f3\u30c8 &#8212; \u6700\u9ad8\u8ca1\u52d9\u8cac\u4efb\u8005<\/p>\n<p>\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002\u7686\u3055\u3093\u3001\u3054\u5354\u529b\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002\u65b0\u3057\u3044\u5f62\u5f0f\u306b\u3088\u3063\u3066\u3001\u6700\u521d\u306e\u6328\u62f6\u304c\u3088\u308a\u9b45\u529b\u7684\u3067\u3001\u3088\u308a\u77ed\u3044\u3082\u306e\u306b\u306a\u3063\u305f\u306e\u3067\u306f\u306a\u3044\u304b\u3068\u601d\u3044\u307e\u3059\u3002\u305f\u3060\u3001\u7686\u3055\u3093\u306b\u304a\u77e5\u3089\u305b\u3057\u3066\u304a\u304d\u305f\u3044\u306e\u306f\u3001\u3053\u308c\u307e\u3067\u6163\u308c\u89aa\u3057\u3093\u3067\u304d\u305f\u5f93\u6765\u306e\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u30fb\u30b3\u30e1\u30f3\u30c8\u3082\u5f15\u304d\u7d9a\u304d\u5229\u7528\u53ef\u80fd\u3060\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002<\/p>\n<p>\u3057\u304b\u3057\u3001\u79c1\u306e\u58f0\u3092\u805e\u304f\u306e\u3067\u306f\u306a\u304f\u3001\u624b\u7d19\u306e\u5f62\u3067IR\u30b5\u30a4\u30c8\u306b\u63b2\u8f09\u3059\u308b\u3053\u3068\u306b\u3057\u307e\u3057\u305f\u3002\u52d5\u753b\u3068\u3044\u3046\u5f62\u5f0f\u306b\u306f\u975e\u5e38\u306b\u6e80\u8db3\u3057\u3066\u3044\u307e\u3059\u3002Q&amp;A\u306e\u6642\u9593\u3082\u5897\u3084\u305b\u307e\u3059\u3057\u306d\u3002\u6765\u671f\u3082\u3053\u306e\u65b9\u5f0f\u3067\u3044\u304d\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n<p>\u305d\u3057\u3066\u30013\u30f5\u6708\u5f8c\u306b\u4e0a\u534a\u671f\u306e\u5168\u5bb9\u3092\u304a\u77e5\u3089\u305b\u3067\u304d\u308b\u3053\u3068\u3092\u697d\u3057\u307f\u306b\u3057\u3066\u3044\u307e\u3059\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002<\/p>\n<p>\u4ee5\u4e0a\u3067\u3059\u3002\u4ed6\u306e\u7ffb\u8a33\u5e0c\u671b\u304c\u3042\u308c\u3070\u3054\u9023\u7d61\u3044\u305f\u3060\u3051\u308c\u3070\u691c\u8a0e\u3044\u305f\u3057\u307e\u3059\u3002<\/p>\n<p>\uff0a\u8aa4\u8a33\u306a\u3069\u304c\u3042\u308b\u304b\u3082\u3057\u308c\u307e\u305b\u3093\u3067\u306e\u53c2\u8003\u7a0b\u5ea6\u306b\u3057\u3066\u3044\u305f\u3060\u304d\u6295\u8cc7\u306f\u81ea\u5df1\u5224\u65ad\u3067\u304a\u9858\u3044\u3057\u307e\u3059\u3002<\/p>\n<p>\u30d6\u30ed\u30b0\u904b\u55b6\u306e\u52b1\u307f\u306b\u306a\u308a\u307e\u3059\u306e\u3067\u3001\u304a\u624b\u6570\u3067\u3059\u304c\u3001\u5fdc\u63f4\u306e\uff11\u65e5\uff11\u30af\u30ea\u30c3\u30af\u3092\u3088\u308d\u3057\u304f\u304a\u9858\u3044\u81f4\u3057\u307e\u3059\u3002<\/p>\n<p>\u2193\u2193\uff1c\u5fdc\u63f4\u30af\u30ea\u30c3\u30af\u304a\u9858\u3044\u3057\u307e\u3059\uff1e<\/p>\n<p><a href=\"https:\/\/stock.blogmura.com\/ranking\/in?p_cid=11122923\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/b.blogmura.com\/stock\/88_31.gif\" alt=\"\u306b\u307b\u3093\u30d6\u30ed\u30b0\u6751 \u682a\u30d6\u30ed\u30b0\u3078\" width=\"88\" height=\"31\" border=\"0\"><\/a><br \/>\n<a href=\"https:\/\/stock.blogmura.com\/ranking\/in?p_cid=11122923\" target=\"_blank\" rel=\"noopener\">\u306b\u307b\u3093\u30d6\u30ed\u30b0\u6751<\/a><\/p>\n<p><a href=\"https:\/\/stock.blogmura.com\/stockinfo\/ranking\/in?p_cid=11122923\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/b.blogmura.com\/stock\/stockinfo\/88_31.gif\" alt=\"\u306b\u307b\u3093\u30d6\u30ed\u30b0\u6751 \u682a\u30d6\u30ed\u30b0 \u682a\u5f0f\u6295\u8cc7\u60c5\u5831\u3078\" width=\"88\" height=\"31\" border=\"0\"><\/a><br \/>\n<a href=\"https:\/\/stock.blogmura.com\/stockinfo\/ranking\/in?p_cid=11122923\" target=\"_blank\" 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