{"id":1710,"date":"2022-06-22T21:27:59","date_gmt":"2022-06-22T12:27:59","guid":{"rendered":"https:\/\/1up-life.blog\/?p=1710"},"modified":"2022-06-22T21:30:49","modified_gmt":"2022-06-22T12:30:49","slug":"%e3%80%90%e7%bf%bb%e8%a8%b3%e3%80%91%e3%83%ac%e3%83%8a%e3%83%bc-nyselen-2022%e5%b9%b4%e7%ac%ac2%e5%9b%9b%e5%8d%8a%e6%9c%9f%e6%b1%ba%e7%ae%97%e8%aa%ac%e6%98%8e%e4%bc%9a","status":"publish","type":"post","link":"https:\/\/1up-life.blog\/?p=1710","title":{"rendered":"\u3010\u7ffb\u8a33\u3011\u30ec\u30ca\u30fc (NYSE:LEN) 2022\u5e74\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a"},"content":{"rendered":"

\u30ec\u30ca\u30fc (NYSE:LEN) 2022\u5e74\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a\u306e\u65e5\u672c\u8a9e\u8a33\u3067\u3059\u3002<\/p>\n

Q2\u306e\u6c7a\u7b97\u306f\u975e\u5e38\u306b\u826f\u304b\u3063\u305f\u3067\u3059\u304c\u30ac\u30a4\u30c0\u30f3\u30b9\u304c\u5f31\u3044\u3067\u3059\u306d\u3002\u91d1\u5229\u4e0a\u6607\u306b\u3088\u3063\u30666\u6708\u304b\u3089\u9700\u8981\u304c\u6e1b\u901f\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n

2022\u5e74\u5f8c\u534a\u306b\u306f\u7b2c1\u56db\u534a\u671f\u306b\u6025\u9a30\u3057\u305f\u6728\u6750\u306e\u4e0a\u6607\u304c\u5f71\u97ff\u3059\u308b\u305f\u3081\u30b3\u30b9\u30c8\u304c\u518d\u3073\u4e0a\u6607\u3059\u308b\u305d\u3046\u3067\u3059\u3002<\/p>\n

\u7b2c2\u56db\u534a\u671f\u672b\u304b\u3089\u59cb\u307e\u3063\u305f\u6728\u6750\u4fa1\u683c\u306e\u4e0b\u843d\u306e\u5f71\u97ff\u306f2022\u5e74\u5f8c\u534a\u306e\u7740\u5de5\u30682023\u5e74\u524d\u534a\u306e\u7d0d\u5165\u306b\u95a2\u9023\u3059\u308b\u30b3\u30b9\u30c8\u3092\u4e0b\u3052\u308b\u3053\u3068\u306b\u306a\u308b\u3068\u306e\u4e8b\u306a\u306e\u3067\u3057\u3070\u3089\u304f\u306f\u53b3\u3057\u3044\u72b6\u6cc1\u306b\u306a\u308a\u307e\u305d\u3046\u3067\u3059\u3002<\/p>\n

\"\u30ec\u30ca\u30fc

\u30ec\u30ca\u30fc (NYSE:LEN)\u682a\u4fa1<\/p><\/div>\n

\u30ec\u30ca\u30fc (NYSE:LEN) 2022\u5e74\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a<\/strong><\/span><\/p>\n

2022\u5e746\u670821\u65e5\u5348\u524d11\u664200\u5206\uff08\u7c73\u56fd\u6771\u90e8\u6642\u9593\uff09<\/p>\n

Company Participants
\nAlexandra Lumpkin – Deputy General Counsel
\nStuart Miller – Executive Chairman
\nRick Beckwitt – Co-Chief Executive Officer & President
\nJon Jaffe – Co-Chief Executive Officer & President
\nDiane Bessette – CFO
\nConference Call Participants
\nStephen Kim – Evercore ISI
\nBuck Horne – Raymond James
\nTruman Patterson – Wolfe Research
\nAlan Ratner – Zelman & Associates
\nMike Rehaut – JPMorgan
\nSusan Maklari – Goldman Sachs<\/p>\n

\u30aa\u30da\u30ec\u30fc\u30bf\u30fc<\/p>\n

Lennar \u306e\u7b2c 2 \u56db\u534a\u671f\u6c7a\u7b97\u306e\u30ab\u30f3\u30d5\u30a1\u30ec\u30f3\u30b9\u30fb\u30b3\u30fc\u30eb\u3078\u3088\u3046\u3053\u305d\u3002[\u672c\u65e5\u306e\u4f1a\u8b70\u306f\u9332\u97f3\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u7570\u8b70\u304c\u3042\u308c\u3070\u3001\u3053\u306e\u6642\u70b9\u3067\u5207\u65ad\u3057\u3066\u304f\u3060\u3055\u3044\u3002\u305d\u308c\u3067\u306f\u3001\u30a2\u30ec\u30af\u30b5\u30f3\u30c9\u30e9\u30fb\u30e9\u30f3\u30d7\u30ad\u30f3\u306b\u30d5\u30a9\u30ef\u30fc\u30c9\u30fb\u30eb\u30c3\u30ad\u30f3\u30b0\u30fb\u30b9\u30c6\u30fc\u30c8\u30e1\u30f3\u30c8\u3092\u8aad\u3093\u3067\u3044\u305f\u3060\u304f\u305f\u3081\u306b\u3001\u901a\u8a71\u3092\u5f15\u304d\u7d99\u304e\u307e\u3059\u3002<\/p>\n

\u30a2\u30ec\u30af\u30b5\u30f3\u30c9\u30e9\u30fb\u30e9\u30f3\u30d7\u30ad\u30f3\uff08Alex Lumpkin\uff09–\u6cd5\u5f8b\u9867\u554f\u4ee3\u7406<\/p>\n

\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u672c\u65e5\u306e\u96fb\u8a71\u4f1a\u8b70\u306b\u306f\u3001Lennar\u306e\u30d3\u30b8\u30cd\u30b9\u3001\u8ca1\u52d9\u72b6\u6cc1\u3001\u7d4c\u55b6\u6210\u7e3e\u3001\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3001\u6226\u7565\u3001\u898b\u901a\u3057\u306b\u95a2\u3059\u308b\u8a18\u8ff0\u3092\u542b\u3080\u3001\u5c06\u6765\u4e88\u60f3\u306b\u95a2\u3059\u308b\u8a18\u8ff0\u304c\u542b\u307e\u308c\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002\u5c06\u6765\u4e88\u60f3\u306b\u95a2\u3059\u308b\u8a18\u8ff0\u306f\u3001\u3053\u306e\u96fb\u8a71\u4f1a\u8b70\u306e\u65e5\u4ed8\u306b\u304a\u3051\u308b\u30ec\u30ca\u30fc\u306e\u63a8\u5b9a\u3092\u8868\u3057\u3066\u3044\u308b\u306b\u3059\u304e\u305a\u3001\u5b9f\u969b\u306e\u5c06\u6765\u306e\u7d50\u679c\u306b\u3064\u3044\u3066\u4fdd\u8a3c\u3059\u308b\u3053\u3068\u3092\u610f\u56f3\u3057\u3066\u3044\u307e\u305b\u3093\u3002\u5c06\u6765\u4e88\u60f3\u306b\u95a2\u3059\u308b\u8a18\u8ff0\u306f\u3001\u307e\u3060\u767a\u751f\u3057\u3066\u3044\u306a\u3044\u4e8b\u67c4\u306b\u95a2\u9023\u3057\u3066\u3044\u308b\u305f\u3081\u3001\u3053\u308c\u3089\u306e\u8a18\u8ff0\u306f\u672c\u8cea\u7684\u306b\u30ea\u30b9\u30af\u3068\u4e0d\u78ba\u5b9f\u6027\u3092\u4f34\u3044\u307e\u3059\u3002
\n\u591a\u304f\u306e\u8981\u56e0\u304c\u5c06\u6765\u306e\u7d50\u679c\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u3001Lennar\u306e\u5b9f\u969b\u306e\u6d3b\u52d5\u3084\u7d50\u679c\u304c\u3001\u5c06\u6765\u306e\u898b\u901a\u3057\u306b\u95a2\u3059\u308b\u8a18\u8ff0\u3067\u4e88\u6e2c\u3055\u308c\u305f\u6d3b\u52d5\u3084\u7d50\u679c\u3068\u306f\u5927\u304d\u304f\u7570\u306a\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002\u3053\u308c\u3089\u306e\u8981\u56e0\u306f\u3001\u4eca\u671d\u306e\u30d7\u30ec\u30b9\u30ea\u30ea\u30fc\u30b9\u304a\u3088\u3073\u5f53\u793e\u306eSEC\u63d0\u51fa\u66f8\u985e\uff08\u6700\u8fd1SEC\u306b\u63d0\u51fa\u3055\u308c\u305fLennar\u306e\u30d5\u30a9\u30fc\u30e010-K\u306b\u95a2\u3059\u308b\u5e74\u6b21\u5831\u544a\u66f8\u306b\u542b\u307e\u308c\u308b\u30ea\u30b9\u30af\u8981\u56e0\u306e\u30ad\u30e3\u30d7\u30b7\u30e7\u30f3\u306b\u8a18\u8f09\u3055\u308c\u3066\u3044\u308b\u3082\u306e\u3092\u542b\u3080\uff09\u306b\u8a18\u8f09\u3055\u308c\u3066\u3044\u308b\u3082\u306e\u3092\u542b\u3093\u3067\u3044\u307e\u3059\u3002Lennar\u306f\u3001\u3044\u304b\u306a\u308b\u5c06\u6765\u4e88\u60f3\u306b\u95a2\u3059\u308b\u8a18\u8ff0\u3082\u66f4\u65b0\u3059\u308b\u7fa9\u52d9\u3092\u8ca0\u308f\u306a\u3044\u3053\u3068\u306b\u6ce8\u610f\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n

\u53f8\u4f1a\u8005<\/p>\n

\u305d\u308c\u3067\u306f\u3001\u4e3b\u50ac\u8005\u3067\u3042\u308b\u30b9\u30c1\u30e5\u30a2\u30fc\u30c8\u30fb\u30df\u30e9\u30fc\u57f7\u884c\u4f1a\u9577\u3092\u3054\u7d39\u4ecb\u3057\u307e\u3059\u3002\u8b70\u9577\u3001\u59cb\u3081\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n

\u30b9\u30c1\u30e5\u30a2\u30fc\u30c8\u30fb\u30df\u30e9\u30fc — \u57f7\u884c\u59d4\u54e1\u9577<\/p>\n

\u3068\u3066\u3082\u826f\u3044\u3002\u7686\u3055\u3093\u3001\u304a\u306f\u3088\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u4eca\u671d\u306f\u30de\u30a4\u30a2\u30df\u304b\u3089\u3001\u5171\u540cCEO\u517c\u793e\u9577\u306eJon Jaffe\u3001\u5171\u540cCEO\u517c\u793e\u9577\u306eRick Beckwitt\u3001\u6700\u9ad8\u8ca1\u52d9\u8cac\u4efb\u8005\u306eDiane Bessette\u3001\u30b3\u30f3\u30c8\u30ed\u30fc\u30e9\u30fc\u517c\u526f\u793e\u9577\u306eDavid Collins\u3001Lennar\u91d1\u878d\u30b5\u30fc\u30d3\u30b9\u90e8\u9580\u306eCEO\u3001Bruce Gross\u3001\u305d\u3057\u3066\u3082\u3061\u308d\u3093\u5148\u307b\u3069\u304a\u8a71\u3057\u305fAlex\u3068\u4e00\u7dd2\u306b\u6765\u3066\u3044\u307e\u3059\u3002\u3044\u3064\u3082\u306e\u3088\u3046\u306b\u3001\u79c1\u304c\u30de\u30af\u30ed\u7684\u3001\u6226\u7565\u7684\u306a\u6982\u89b3\u3092\u304a\u8a71\u3057\u3057\u307e\u3059\u3002<\/p>\n

\u79c1\u306e\u6328\u62f6\u306e\u5f8c\u3001Rick\u304c\u5168\u56fd\u306e\u5e02\u5834\u306b\u3064\u3044\u3066\u8a71\u3057\u307e\u3059\u3002Jon\u306f\u3001\u571f\u5730\u30d7\u30ed\u30b0\u30e9\u30e0\u3001\u30b5\u30d7\u30e9\u30a4\u30c1\u30a7\u30fc\u30f3\u3001\u5efa\u8a2d\u30b3\u30b9\u30c8\u306b\u3064\u3044\u3066\u8aac\u660e\u3057\u307e\u3059\u3002\u305d\u3057\u3066\u3001\u3044\u3064\u3082\u306e\u3088\u3046\u306b\u3001\u30c0\u30a4\u30a2\u30f3\u304b\u3089\u8a73\u7d30\u306a\u8ca1\u52d9\u30cf\u30a4\u30e9\u30a4\u30c8\u304c\u767a\u8868\u3055\u308c\u307e\u3059\u3002\u307e\u305f\u3001\u30d7\u30ec\u30b9\u30ea\u30ea\u30fc\u30b9\u306b\u3042\u308b\u3088\u3046\u306b\u3001\u4eca\u5f8c\u306e\u5c55\u671b\u3068\u30e2\u30c7\u30eb\u5316\u3092\u652f\u63f4\u3059\u308b\u305f\u3081\u306b\u3001\u975e\u5e38\u306b\u9650\u5b9a\u7684\u306a\u5883\u754c\u7dda\u3092\u63d0\u793a\u3057\u307e\u3059\u3002<\/p>\n

\u305d\u3057\u3066\u3001\u3082\u3061\u308d\u3093\u3001\u3067\u304d\u308b\u9650\u308a\u591a\u304f\u306e\u8cea\u554f\u306b\u304a\u7b54\u3048\u3057\u307e\u3059\u3002\u8cea\u554f\u306f1\u3064\u3001\u30d5\u30a9\u30ed\u30fc\u306f1\u3064\u307e\u3067\u3067\u304a\u9858\u3044\u3057\u307e\u3059\u3002\u305d\u308c\u3067\u306f\u307e\u305a\u3001\u30ec\u30ca\u30fc\u306e\u793e\u54e1\u304c\u307e\u305f\u4e00\u751f\u61f8\u547d\u306b\u6226\u3044\u3001\u3088\u304f\u5b9f\u884c\u3055\u308c\u305f\u56db\u534a\u671f\u696d\u7e3e\u3092\u767a\u8868\u3067\u304d\u308b\u3053\u3068\u3092\u975e\u5e38\u306b\u5b09\u3057\u304f\u601d\u3044\u307e\u3059\u3002\u7b2c2\u56db\u534a\u671f\u3092\u901a\u3057\u3066\u3001\u79c1\u305f\u3061\u306f\u4f4f\u5b85\u3092\u8ca9\u58f2\u3057\u7d9a\u3051\u3001\u571f\u5730\u3084\u4eba\u4ef6\u8cbb\u3001\u6750\u6599\u8cbb\u306e\u9ad8\u9a30\u3092\u76f8\u6bba\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3057\u305f\u3002<\/p>\n

\u58f2\u4e0a\u7dcf\u5229\u76ca\u7387\u306f29.5\uff05\u3001\u7d14\u5229\u76ca\u7387\u306f23.4\uff05\u3067\u3057\u305f\u3002\u8ca9\u58f2\u7ba1\u7406\u8cbb\u306f6.1\uff05\u3068\u975e\u5e38\u306b\u52b9\u7387\u7684\u3067\u3001\u6628\u5e74\u3088\u308a150\u30d9\u30fc\u30b7\u30b9\u30dd\u30a4\u30f3\u30c8\u6539\u5584\u3057\u3001\u7b2c3\u56db\u534a\u671f\u3068\u3057\u3066\u306f\u904e\u53bb\u6700\u9ad8\u3092\u8a18\u9332\u3059\u308b\u306a\u3069\u3001\u8010\u4e45\u6027\u306b\u512a\u308c\u305f\u30d3\u30b8\u30cd\u30b9\u30e2\u30c7\u30eb\u3092\u78e8\u304d\u7d9a\u3051\u3001\u975e\u5e38\u306b\u5f37\u3044\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3068\u30dc\u30c8\u30e0\u30e9\u30a4\u30f3\u306e\u696d\u7e3e\u3092\u727d\u5f15\u3057\u3066\u3044\u307e\u3059\u3002\u3053\u306e\u597d\u8abf\u306a\u696d\u7e3e\u3068\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306b\u3088\u308a\u3001\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u306f\u5f15\u304d\u7d9a\u304d\u5f37\u5316\u3055\u308c\u3001\u30ad\u30e3\u30c3\u30b7\u30e5\u306f13\u5104\u30c9\u30eb\u3001\u30ea\u30dc\u30eb \u30d0\u30fc\u306e\u501f\u5165\u306f\u30bc\u30ed\u3001\u7dcf\u8cc7\u672c\u8ca0\u50b5\u6bd4\u7387\u306f\u524d\u5e74\u306e23.1\uff05\u304b\u308917.7\uff05\u3068\u306a\u308a\u307e\u3057\u305f\u3002\u3057\u305f\u304c\u3063\u3066\u3001\u4eca\u5e74\u5f8c\u534a\u306b\u8fd4\u6e08\u671f\u9650\u3092\u8fce\u3048\u308b5\u51047,500\u4e07\u30c9\u30eb\u306e\u8ca0\u50b5\u3092\u8fd4\u6e08\u3057\u3001\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u3092\u3055\u3089\u306b\u5f37\u5316\u3059\u308b\u305f\u3081\u306e\u614b\u52e2\u306f\u975e\u5e38\u306b\u6574\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u307e\u305f\u3001\u5e02\u5834\u5168\u4f53\u306b\u5f31\u542b\u307f\u306e\u5146\u3057\u304c\u898b\u3048\u59cb\u3081\u305f\u3082\u306e\u306e\u3001\u7b2c2\u56db\u534a\u671f\u3092\u901a\u3058\u3066\u8ca9\u58f2\u4fa1\u683c\u3068\u30da\u30fc\u30b9\u3092\u7ba1\u7406\u3057\u3001\u65b0\u898f\u53d7\u6ce8\u3092\u524d\u5e74\u540c\u671f\u6bd44\uff05\u5897\u52a0\u3055\u305b\u307e\u3057\u305f\u3002\u3053\u306e\u5f31\u542b\u307f\u306f\u7b2c3\u56db\u534a\u671f\u306b\u5165\u3063\u3066\u3082\u7d9a\u3044\u3066\u3044\u307e\u3059\u3002FRB\u304c\u30a4\u30f3\u30d5\u30ec\u306b\u5bfe\u3057\u3066\u7a4d\u6975\u7684\u304b\u3064\u8fc5\u901f\u306b\u5bfe\u5fdc\u3057\u305f\u3053\u3068\u3067\u3001\u4e88\u60f3\u3069\u304a\u308a\u4f4f\u5b85\u5e02\u5834\u306f\u51b7\u3048\u8fbc\u307f\u307e\u3057\u305f\u3002\u305d\u306e\u7d50\u679c\u300130\u5e74\u56fa\u5b9a\u91d1\u5229\u306e\u4f4f\u5b85\u30ed\u30fc\u30f3\u91d1\u5229\u304c6\u30f6\u6708\u3067\u7d042\u500d\u3068\u975e\u5e38\u306b\u6025\u901f\u306b\u4e0a\u6607\u3057\u3001\u6708\u3005\u306e\u652f\u6255\u3044\u30b3\u30b9\u30c8\u3092\u5897\u52a0\u3055\u305b\u3001\u5024\u3054\u308d\u611f\u3092\u4f4e\u4e0b\u3055\u305b\u308b\u3053\u3068\u306b\u3088\u3063\u3066\u3001\u4fa1\u683c\u4e0a\u6607\u3092\u920d\u3089\u305b\u3001\u9700\u8981\u3092\u7de9\u548c\u3059\u308b\u3068\u3044\u3046\u671b\u307e\u3057\u3044\u52b9\u679c\u3092\u3082\u305f\u3089\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u5e02\u5834\u306f\u51b7\u3048\u8fbc\u3093\u3060\u3068\u306f\u3044\u3048\u3001\u660e\u3089\u304b\u306b\u505c\u6b62\u3057\u305f\u308f\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u8cfc\u5165\u8005\u306f\u307e\u3060\u982d\u91d1\u3092\u6255\u3044\u3001\u9b45\u529b\u7684\u306a\u30af\u30ec\u30b8\u30c3\u30c8\u30b9\u30b3\u30a2\u3092\u6301\u3061\u3001\u8cc7\u683c\u3092\u5f97\u308b\u3053\u3068\u304c\u3067\u304d\u308b\u305f\u3081\u3001\u9700\u8981\u306f\u9069\u5ea6\u306b\u5f37\u3044\u307e\u307e\u3067\u3059\u3002\u4e16\u5e2f\u69cb\u6210\u306f\u5f15\u304d\u7d9a\u304d\u5897\u52a0\u3057\u3066\u3044\u307e\u3059\u3002\u591a\u304f\u306e\u5e02\u5834\u3067\u4fa1\u683c\u8abf\u6574\u304c\u884c\u308f\u308c\u307e\u3057\u305f\u304c\u3001\u524d\u5e74\u6bd4\u3067 \u306f\u4f9d\u7136\u3068\u3057\u3066\u9ad8\u3044\u6c34\u6e96\u306b\u3042\u308a\u307e\u3059\u3002<\/p>\n

\u30d0\u30a4\u30e4\u30fc\u306f\u3001\u5e0c\u5c11\u306a\u8cc3\u8cb8\u7269\u4ef6\u304c\u5bb6\u8cc3\u3092\u4e0a\u6607\u3055\u305b\u308b\u305f\u3081\u3001\u30a4\u30f3\u30d5\u30ec\u5727\u529b\u304b\u3089\u306e\u907f\u96e3\u6240\u3092\u6c42\u3081\u3066\u3044\u307e\u3059\u3002\u4f9b\u7d66\u306f\u4f9d\u7136\u3068\u3057\u3066\u5168\u56fd\u7684\u306b\u9650\u3089\u308c\u3066\u304a\u308a\u3001\u624b\u9803\u306a\u4fa1\u683c\u306e\u52b4\u50cd\u529b\u7528\u4f4f\u5b85\u306e\u30cb\u30fc\u30ba\u306f\u5f15\u304d\u7d9a\u304d\u5371\u6a5f\u7684\u306a\u6c34\u6e96\u306b\u3042\u308a\u307e\u3059\u3002\u904e\u53bb10\u5e74\u9593\u306e\u4f4f\u5b85\u751f\u7523\u306f500\u4e07\u6238\u3082\u9045\u308c\u3066\u3044\u308b\u305f\u3081\u3001\u4e16\u5e2f\u6570\u306e\u5897\u52a0\u306b\u751f\u7523\u304c\u8ffd\u3044\u3064\u304b\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3053\u3068\u306f\u660e\u3089\u304b\u3067\u3059\u3002\u3068\u306f\u3044\u3048\u3001\u91d1\u5229\u306e\u6025\u4e0a\u6607\u3068\u4fa1\u683c\u306e\u9ad8\u9a30\u306f\u3001\u5c11\u306a\u304f\u3068\u3082\u30b9\u30c6\u30c3\u30ab\u30fc\u30b7\u30e7\u30c3\u30af\u3092\u5f15\u304d\u8d77\u3053\u3057\u3001\u304a\u305d\u3089\u304f\u3088\u308a\u69cb\u9020\u7684\u306a\u9700\u8981\u306e\u51b7\u3048\u8fbc\u307f\u3092\u62db\u3044\u3066\u3044\u308b\u3002<\/p>\n

\u3053\u306e\u5f8c\u3001\u30ea\u30c3\u30af\u304c\u5e02\u5834\u3054\u3068\u306e\u8a73\u7d30\u306a\u6982\u6cc1\u3092\u8aac\u660e\u3057\u3001\u3053\u308c\u307e\u3067\u306e\u72b6\u6cc1\u3092\u3088\u308a\u5305\u62ec\u7684\u306b\u304a\u4f1d\u3048\u3057\u307e\u3059\u3002\u3053\u3046\u3057\u305f\u5e02\u5834\u74b0\u5883\u306e\u4e88\u5099\u7684\u306a\u53cd\u6620\u306f\u3001\u5e02\u5834\u306e\u72b6\u614b\u3092\u30dd\u30b8\u30c6\u30a3\u30d6\u306b\u6349\u3048\u308b\u3082\u306e\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u304c\u3001FRB\u306e\u5f15\u304d\u7de0\u3081\u304c\u59cb\u307e\u3063\u3066\u4ee5\u6765\u3001\u6307\u6a19\u306f\u7a4d\u307f\u4e0a\u304c\u3063\u3066\u304d\u3066\u3044\u307e\u3059\u3002\u305d\u3057\u3066\u3001FRB\u304c\u6700\u8fd1\u884c\u3063\u305f\u6c7a\u5b9a\u7684\u306a\u767a\u8a00\u306b\u3088\u3063\u3066\u30a4\u30f3\u30d5\u30ec\u3068\u6226\u3046\u4fe1\u5ff5\u3092\u8868\u660e\u3057\u305f\u3053\u3068\u3092\u8003\u3048\u308b\u3068\u3001\u30a4\u30f3\u30d5\u30ec\u304c\u53ce\u307e\u308b\u307e\u3067\u5f15\u304d\u7de0\u3081\u3092\u7d9a\u3051\u308b\u3053\u3068\u3067\u3001\u3053\u3046\u3057\u305f\u50be\u5411\u306f\u3088\u308a\u56fa\u307e\u3063\u3066\u3044\u304f\u3068\u601d\u308f\u308c\u307e\u3059\u3002\u30c8\u30ec\u30f3\u30c9\u306b\u6297\u3046\u3068\u3044\u3046\u9078\u629e\u80a2\u3082\u3042\u308a\u307e\u3059\u304c\u3001\u73fe\u5b9f\u306b\u306f\u5e02\u5834\u304c\u5909\u5316\u3057\u3066\u304a\u308a\u3001\u5fc5\u8981\u306a\u8abf\u6574\u3092\u3059\u3079\u3066\u884c\u3046\u3053\u3068\u3067\u5148\u624b\u3092\u6253\u3063\u3066\u3044\u308b\u306e\u3067\u3059\u3002<\/p>\n

\u3067\u306f\u3001\u4eca\u5f8c\u306e\u30d7\u30ec\u30a4\u30d6\u30c3\u30af\u306f\u3069\u306e\u3088\u3046\u306a\u3082\u306e\u3067\u3057\u3087\u3046\u304b\u3002\u79c1\u305f\u3061\u306f\u30b7\u30f3\u30d7\u30eb\u306b\u3001\u6838\u3068\u306a\u308b\u6226\u7565\u3092\u5b88\u3063\u3066\u3044\u304f\u3064\u3082\u308a\u3067\u3059\u3002\u307e\u305a\u3001\u5e02\u5834\u74b0\u5883\u306b\u5fdc\u3058\u305f\u4fa1\u683c\u8a2d\u5b9a\u3068\u9069\u6b63\u306a\u8ca9\u58f2\u91cf\u3092\u7dad\u6301\u3059\u308b\u3053\u3068\u3067\u3059\u3002\u904e\u53bb\u6570\u5e74\u9593\u3001\u65e5\u672c\u5168\u56fd\u3067\u4f4f\u5b85\u304c\u4e0d\u8db3\u3057\u3066\u3044\u308b\u3053\u3068\u3092\u304a\u8a71\u3057\u3057\u3066\u304d\u307e\u3057\u305f\u3002\u305d\u306e\u4e0d\u8db3\u3092\u88dc\u3044\u3001\u5e02\u5834\u5168\u4f53\u3067\u5fc5\u8981\u3068\u3055\u308c\u3066\u3044\u308b\u52b4\u50cd\u8005\u7528\u4f4f\u5b85\u3092\u63d0\u4f9b\u3059\u308b\u305f\u3081\u306b\u3001\u4fa1\u683c\u306e\u7de9\u548c\u3068\u8abf\u6574\u3092\u884c\u3044\u306a\u304c\u3089\u5efa\u8a2d\u3092\u7d9a\u3051\u3066\u3044\u304d\u307e\u3059\u3002<\/p>\n

\u3053\u308c\u307e\u3067\u4f55\u5ea6\u3082\u7533\u3057\u4e0a\u3052\u3066\u304d\u305f\u3088\u3046\u306b\u3001\u5e02\u5834\u304c\u597d\u8ee2\u3057\u3066\u3044\u3088\u3046\u304c\u3001\u8870\u9000\u3057\u3066\u3044\u3088\u3046\u304c\u3001\u5f53\u793e\u306f\u30c0\u30a4\u30ca\u30df\u30c3\u30af\u30fb\u30d7\u30e9\u30a4\u30b7\u30f3\u30b0\u30fb\u30e2\u30c7\u30eb\u3092\u6bce\u9031\u5c0e\u5165\u3057\u3001\u73fe\u5728\u306e\u5e02\u5834\u306e\u72b6\u6cc1\u306b\u5408\u308f\u305b\u3066\u5546\u54c1\u306e\u4fa1\u683c\u3092\u8a2d\u5b9a\u3057\u3001\u614e\u91cd\u306b\u5728\u5eab\u30ec\u30d9\u30eb\u3092\u5236\u9650\u3057\u306a\u304c\u3089\u4fa1\u683c\u3068\u30de\u30fc\u30b8\u30f3\u3092\u6700\u5927\u5316\u3059\u308b\u3088\u3046\u306b\u3057\u3066\u3044\u307e\u3059\u3002\u5e02\u5834\u306e\u52d5\u304d\u306b\u5408\u308f\u305b\u3066\u3001\u79c1\u305f\u3061\u306f\u5bfe\u5fdc\u3057\u7d9a\u3051\u307e\u3059\u3002\u4f4f\u5b85\u8ca9\u58f2\u3068\u4e26\u884c\u3057\u3066\u3001\u5f53\u793e\u306f\u5f15\u304d\u7d9a\u304d\u5168\u56fd\u306e\u512a\u308c\u305f\u7d4c\u55b6\u9663\u3092\u6d3b\u7528\u3057\u3001\u30d3\u30b8\u30cd\u30b9\u30fb\u30b3\u30b9\u30c8\u306e\u6539\u5584\u3092\u56f3\u3063\u3066\u3044\u304d\u307e\u3059\u3002\u904e\u53bb\u6570\u5e74\u9593\u3001\u8ca9\u58f2\u7ba1\u7406\u8cbb\u306f\u524d\u56db\u534a\u671f\u6bd4\u3067\u6539\u5584\u3057\u3066\u304a\u308a\u3001\u4eca\u5f8c\u3082\u30c6\u30af\u30ce\u30ed\u30b8\u30fc\u3068\u30d7\u30ed\u30bb\u30b9\u306e\u6539\u5584\u3092\u901a\u3058\u3066\u52b9\u7387\u5316\u3092\u56f3\u308a\u3001\u5e02\u5834\u306e\u8abf\u6574\u3092\u53ef\u80fd\u306a\u9650\u308a\u76f8\u6bba\u3057\u305f\u3044\u3068\u8003\u3048\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u6b21\u306b\u3001\u30ad\u30e3\u30c3\u30b7\u30e5\u30fb\u30d5\u30ed\u30fc\u3068\u30dc\u30c8\u30e0\u30e9\u30a4\u30f3\u3092\u91cd\u8996\u3057\u3001\u5353\u8d8a\u3057\u305f\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u3092\u7dad\u6301\u30fb\u5f37\u5316\u3057 \u3066\u3044\u304d\u307e\u3059\u3002\u904e\u53bb\u6570\u5e74\u9593\u3001\u614e\u91cd\u306a\u571f\u5730\u7ba1\u7406\u3068\u5728\u5eab\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb\u3092\u8ef8\u306b\u3057\u305f\u6210\u529f\u304b\u3089\u7acb\u3061\u4e0a\u304c\u308a\u3001\u30ad\u30e3\u30c3\u30b7\u30e5\u30fb\u30d5\u30ed\u30fc\u3092\u751f\u307f\u51fa\u3059\u3053\u3068\u3067\u3001\u8ca0\u50b5\u306e\u524a\u6e1b\u3001\u81ea\u793e\u682a\u8cb7\u3044\u3092\u53ef\u80fd\u306b\u3057\u3001\u682a\u4e3b\u9084\u5143\u3092\u9032\u3081\u3066\u304d\u307e\u3057\u305f\u3002\u7b2c2\u56db\u534a\u671f\u306b\u306f\u3001\u3055\u3089\u306b410\u4e07\u682a\u3001\u7d043\u51042,000\u4e07\u30c9\u30eb\u306e\u81ea\u793e\u682a\u8cb7\u3044\u3092\u884c\u3044\u3001\u682a\u4e3b\u8cc7\u672c\u5229\u76ca\u7387\u306f21.4\uff05\u3068\u306a\u308a\u3001\u6628\u5e74\u304b\u3089260\u30d9\u30fc\u30b7\u30b9\u30dd\u30a4\u30f3\u30c8\u6539\u5584\u3057\u307e\u3057\u305f\u3002\u6700\u5f8c\u306b\u3001\u9577\u3044\u9593\u8a08\u753b\u3057\u3066\u3044\u305f\u30b9\u30d4\u30f3\u30aa\u30d5\u3092\u5e74\u672b\u307e\u3067\u306b\u5b8c\u4e86\u3055\u305b\u308b\u4e88\u5b9a\u3067\u3059\u3002<\/p>\n

\u79c1\u305f\u3061\u306f\u65b0\u4f1a\u793e\u306e3\u3064\u306e\u5206\u91ce\u3092\u3055\u3089\u306b\u6d17\u7df4\u3055\u305b\u306a\u304c\u3089\u3001\u6210\u719f\u3057\u305f\u8cc7\u7523\u7ba1\u7406\u4f1a\u793e\u3092\u3001\u3053\u308c\u307e\u3067\u30ec\u30ca\u30fc\u306e\u5e33\u7c3f\u306b\u3042\u3063\u305f\u6570\u5341\u5104\u30c9\u30eb\u306e\u904b\u7528\u8cc7\u7523\u3068\u3068\u3082\u306b\u682a\u5f0f\u5e02\u5834\u306b\u6295\u5165\u3059\u308b\u4e88\u5b9a\u3067\u3059\u3002\u65b0\u4f1a\u793e\u306e\u6700\u7d42\u7684\u306a\u30b9\u30d4\u30f3\uff08Quarterra \u3068\u547c\u3076\u4e88\u5b9a\uff09\u306f\u682a\u5f0f\u8a18\u53f7 Q \u3067\u53d6\u5f15\u3055\u308c\u3001\u4ee5\u524d\u306b\u3082\u8ff0\u3079\u305f\u3088\u3046\u306b\u3001\u9650\u3089\u308c\u305f\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u3092\u6301\u3064\u8efd\u91cf\u8cc7\u7523\u7ba1\u7406\u4e8b\u696d\u3068\u306a\u308a\u307e\u3059\u3002\u3053\u306e\u30b9\u30d4\u30f3\u306b\u3088\u308a\u30ec\u30ca\u30fc\u306e\u8cc7\u7523\u306f\u3055\u3089\u306b\u63a8\u5b9a25\u5104\u30c9\u30eb\u6e1b\u5c11\u3057\u3001\u5f53\u793e\u306e\u8cc7\u7523\u3068\u682a\u4e3b\u8cc7\u672c\u306b\u5bfe\u3059\u308b\u30ea\u30bf\u30fc\u30f3\u304c\u5411\u4e0a\u3057\u307e\u3059\u3002<\/p>\n

\u30af\u30a9\u30fc\u30bf\u30e9\u306f\u5f53\u793e\u306e\u6b74\u53f2\u4e0a2\u756a\u76ee\u306e\u30b9\u30d4\u30f3\u30ab\u30f3\u30d1\u30cb\u30fc\u3068\u306a\u308a\u3001\u305d\u306e\u5c06\u6765\u6027\u306b\u5927\u304d\u306a\u671f\u5f85\u3092\u5bc4\u305b\u3066\u3044\u307e\u3059\u3002\u6700\u5f8c\u306b\u3001\u5e02\u5834\u306f\u65b0\u305f\u306a\u9ad8\u91d1\u5229\u74b0\u5883\u306b\u9069\u5fdc\u3059\u308b\u305f\u3081\u306b\u5909\u5316\u3057\u3066\u3044\u308b\u304b\u3082\u3057\u308c\u307e\u305b\u3093\u304c\u3001\u30ec\u30ca\u30fc\u3067\u306f\u6e96\u5099\u304c\u6574\u3063\u3066\u3044\u308b\u3053\u3068\u3092\u7533\u3057\u4e0a\u3052\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002\u79c1\u305f\u3061\u306f\u3001\u3053\u306e\u9032\u5316\u3059\u308b\u4f4f\u5b85\u5e02\u5834\u3067\u6210\u529f\u3059\u308b\u305f\u3081\u306b\u3001\u8ca1\u52d9\u7684\u3001\u7d44\u7e54\u7684\u3001\u6280\u8853\u7684\u306b\u6975\u3081\u3066\u6709\u5229\u306a\u7acb\u5834\u306b\u3042\u308a\u307e\u3059\u3002\u79c1\u305f\u3061\u306f\u3001\u91d1\u5229\u304c\u4e0a\u6607\u3057\u3066\u3044\u308b\u3053\u3068\u3001\u30a4\u30f3\u30d5\u30ec\u304c\u6b63\u5f53\u306a\u8105\u5a01\u3067\u3042\u308a\u7d9a\u3051\u3066\u3044\u308b\u3053\u3068\u3092\u8a8d\u8b58\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n

FRB\u306f\u30a4\u30f3\u30d5\u30ec\u6291\u5236\u306b\u53d6\u308a\u7d44\u3093\u3067\u304a\u308a\u3001\u3053\u308c\u306b\u306f\u6642\u9593\u304c\u304b\u304b\u308b\u3068\u601d\u308f\u308c\u307e\u3059\u304c\u3001\u5e02\u5834\u306e\u5909\u5316\u306b\u5fdc\u3058\u3066\u8abf\u6574\u3067\u304d\u308b\u3053\u3068\u3082\u77e5\u3063\u3066\u3044\u307e\u3059\u3057\u3001\u4eca\u5f8c\u3082\u305d\u3046\u3057\u3066\u3044\u304f\u3064\u3082\u308a\u3067\u3059\u3002\u307e\u305f\u3001\u30b5\u30d7\u30e9\u30a4\u30c1\u30a7\u30fc\u30f3\u306b\u554f\u984c\u304c\u3042\u308b\u3053\u3068\u3082\u627f\u77e5\u3057\u3066\u3044\u307e\u3059\u3057\u3001\u571f\u5730\u3084\u52b4\u50cd\u529b\u304c\u4e0d\u8db3\u3057\u3066\u3044\u308b\u3053\u3068\u3082\u627f\u77e5\u3057\u3066\u3044\u307e\u3059\u3002\u307e\u305f\u3001\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u304c\u91cd\u8981\u3067\u3042\u308a\u3001\u5f37\u56fa\u306a\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u306b\u3088\u3063\u3066\u5f37\u976d\u306a\u7d4c\u55b6\u304c\u53ef\u80fd\u3067\u3042\u308b\u3053\u3068\u3082\u627f\u77e5\u3057\u3066\u3044\u307e\u3059\u30022022\u5e74\u306e\u6b8b\u308a\u306e\u671f\u9593\u3092\u898b\u636e\u3048\u3066\u3001\u79c1\u305f\u3061\u306f\u614e\u91cd\u306b\u8003\u616e\u3057\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u5e02\u5834\u306e\u8ab2\u984c\u304c\u3042\u308b\u3053\u3068\u3092\u8a8d\u8b58\u3057\u3001\u305d\u306e\u8ab2\u984c\u306b\u5bfe\u5fdc\u3057\u3001\u6a5f\u4f1a\u3092\u6700\u5927\u5316\u3059\u308b\u305f\u3081\u306b\u8abf\u6574\u3092\u7d9a\u3051\u3001\u30ec\u30ca\u30fc\u3092\u3088\u308a\u826f\u3044\u672a\u6765\u306b\u5c0e\u304f\u3053\u3068\u3092\u671f\u5f85\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u305d\u308c\u3067\u306f\u3001\u30ea\u30c3\u30af\u306b\u4ee3\u308f\u3063\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n

\u30ea\u30c3\u30af\u30fb\u30d9\u30c3\u30af\u30a6\u30a3\u30c3\u30c8 — \u5171\u540c\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\u517c\u5171\u540c\u30d7\u30ec\u30b8\u30c7\u30f3\u30c8<\/p>\n

\u3042\u308a\u304c\u3068\u3046\u3001\u30b9\u30c1\u30e5\u30a2\u30fc\u30c8\u3002\u30b9\u30c1\u30e5\u30a2\u30fc\u30c8\u306e\u5192\u982d\u306e\u30b3\u30e1\u30f3\u30c8\u304b\u3089\u308f\u304b\u308b\u3088\u3046\u306b\u3001\u4f4f\u5b85\u5e02\u5834\u306f\u4f4f\u5b85\u30ed\u30fc\u30f3\u91d1\u5229\u306e\u5927\u5e45\u306a\u4e0a\u6607\u3001\u8ca9\u58f2\u4fa1\u683c\u306e\u4e0a\u6607\u3001\u7d99\u7d9a\u7684\u306a\u30a4\u30f3\u30d5\u30ec\u3001\u682a\u5f0f\u5e02\u5834\u306e\u4e0b\u843d\u306e\u5f71\u97ff\u306b\u53cd\u5fdc\u3057\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u3089\u306e\u5909\u5316\u306f\u5f53\u56db\u534a\u671f\u4e2d\u306b\u52a0\u901f\u3057\u3001\u591a\u304f\u306e\u4eba\u304c\u6700\u3082\u9855\u8457\u306a\u5f71\u97ff\u3092\u793a\u3057\u307e\u3057\u305f\u3002\u3053\u306e\u3053\u3068\u3092\u5ff5\u982d\u306b\u7f6e\u304d\u3001\u672c\u65e5\u306f\u5f53\u56db\u534a\u671f\u306e\u6708\u6b21\u696d\u7e3e\u306e\u5909\u5316\u3001\u5e02\u5834\u306b\u304a\u3051\u308b\u73fe\u5728\u306e\u8ca9\u58f2\u74b0\u5883\u3001\u304a\u3088\u3073\u4f1a\u793e\u3068\u3057\u3066\u6226\u7565\u7684\u30fb\u7d4c\u55b6\u7684\u306b\u91cd\u8996\u3057\u3066\u3044\u308b\u3053\u3068\u306b\u3064\u3044\u3066\u30b3\u30e1\u30f3\u30c8\u3057\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n

\u5f53\u56db\u534a\u671f\u306e\u65b0\u898f\u53d7\u6ce8\u9ad8\u306f\u3001\u524d\u5e74\u540c\u671f\u4e26\u307f\u306e\u5730\u57df\u6570\u3067\u3001\u524d\u5e74\u540c\u671f\u6bd44\uff05\u306e\u5897\u52a0\u3068\u306a\u308a\u307e\u3057\u305f\u3002\u5730\u57df\u3054\u3068\u306e\u8ca9\u58f2\u30da\u30fc\u30b9\u306f\u67084.8\u4ef6\u304b\u30895\u4ef6\u306b\u5897\u52a0\u3057\u307e\u3057\u305f\u3002\u5f53\u793e\u306f\u3001\u4fa1\u683c\u3092\u6700\u5927\u5316\u3057\u3001\u6f5c\u5728\u7684\u306a\u30b3\u30b9\u30c8\u4e0a\u6607\u3092\u76f8\u6bba\u3059\u308b\u305f\u3081\u306b\u3001\u5efa\u8a2d\u30b5\u30a4\u30af\u30eb\u306e\u5f8c\u534a\u306b\u4f4f\u5b85\u3092\u8ca9\u58f2\u3059\u308b\u3053\u3068\u3092\u7d9a\u3051\u3066\u3044\u307e\u3059\u3002\u5f53\u56db\u534a\u671f\u306e\u65b0\u898f\u53d7\u6ce8\u306f\u5404\u6708\u3068\u3082\u524d\u5e74\u540c\u671f\u6bd4\u3067\u5897\u52a0\u3057\u3001\u5404\u6708\u9593\u306e\u5dee\u306f 125 \u4ef6\u672a\u6e80\u3068\u306a\u308a\u307e\u3057\u305f\u3002<\/p>\n

\u5f53\u56db\u534a\u671f\u306e\u65b0\u898f\u53d7\u6ce8\u306b\u5bfe\u3059\u308b\u8ca9\u58f2\u5968\u52b1\u91d1\u306f\u3001\u524d\u5e74\u540c\u671f\u6bd4\u3067 10bp \u6e1b\u5c11\u3057\u307e\u3057\u305f\u3002\u3057\u304b\u3057\u3001\u5f53\u56db\u534a\u671f\u306f\u6bce\u6708\u9806\u6b21\u5897\u52a0\u3057\u3001\u591a\u304f\u306e\u65b0\u898f\u53d7\u6ce8\u7269\u4ef6\u306e\u8ca9\u58f2\u5968\u52b1\u91d1\u306f\u4f4f\u5b85\u8ca9\u58f2\u7dcf\u4fa1 \u683c\u306e 1.6\uff05\u3068\u306a\u308a\u307e\u3057\u305f\u3002\u6708\u304c\u6700\u9ad8\u5024\u3068\u306a\u3063\u305f\u3082\u306e\u306e\u3001\u6b74\u53f2\u7684\u306b\u898b\u308c\u3070\u307e\u3060\u4f4e\u3044\u6c34\u6e96\u306b\u3042\u308a\u307e\u3059\u3002\u5b9f\u969b\u30015\u6708\u306e\u53d7\u6ce8\u5968\u52b1\u91d1\u306f\u76f4\u8fd112\u30f6\u6708\u306e\u5e73\u5747\u53d7\u6ce8\u5968\u52b1\u91d1\u3088\u308a\u3082\u82e5\u5e72\u4f4e\u304f\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u5f53\u56db\u534a\u671f\u306e\u30ad\u30e3\u30f3\u30bb\u30eb\u7387\u306f11.8\uff05\u3067\u3001\u524d\u56db\u534a\u671f\u306b\u6bd4\u3079\u4e0a\u6607\u3057\u307e\u3057\u305f\u304c\u3001\u904e\u53bb\u306e\u5e73\u5747\u3092\u5927\u5e45\u306b\u4e0b\u56de\u308a \u307e\u3057\u305f\u3002\u5f53\u56db\u534a\u671f\u306f\u3001\u5168\u56fd\u3067\u7d04250\u68df\u306e\u4f4f\u5b85\u5efa\u8a2d\u304c\u5b8c\u4e86\u3057\u3001\u65b0\u898f\u8ca9\u58f2\u74b0\u5883\u304c\u8edf\u8abf\u306a\u4e2d\u3001\u7d76\u597d\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u78ba\u4fdd\u3057\u307e\u3057\u305f\u3002\u6708\u307e\u3067\u306e\u3068\u3053\u308d\u3001\u4f4f\u5b85\u30ed\u30fc\u30f3\u91d1\u5229\u306e\u6025\u9a30\u3084\u3001\u7d4c\u6e08\u60c5\u52e2\u306b\u95a2\u3059\u308b\u30cd\u30ac\u30c6\u30a3\u30d6\u306a\u5831\u9053\u306b\u3088\u308b\u9006\u98a8\u3092\u53d7\u3051\u3066\u3001\u591a\u304f\u306e\u5e02\u5834\u3067\u65b0\u898f\u53d7\u6ce8\u3001\u6765\u5834\u8005\u6570\u3001\u8ca9\u58f2\u5968\u52b1\u91d1\u3001\u30ad\u30e3\u30f3\u30bb\u30eb\u304c\u60aa\u5316\u3057\u3066\u3044\u307e\u3059\u3002\u307e\u305f\u3001\u5b63\u7bc0\u7684\u306b\u4f4e\u8abf\u306a\u6642\u671f\u306b\u5165\u3063\u305f\u3053\u3068\u3082\u3042\u308a\u3001\u591a\u304f\u306e\u5e02\u5834\u3067\u52d5\u304d\u304c\u920d\u304f\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u305d\u308c\u3067\u306f\u3001\u5168\u7c73\u306e\u5e02\u5834\u306b\u3064\u3044\u3066\u5c11\u3057\u3054\u8aac\u660e\u3057\u307e\u3059\u30021\u3064\u306f\u5f71\u97ff\u304c\u306a\u3044\u3001\u3042\u308b\u3044\u306f\u6700\u5c0f\u9650\u306e\u5e02\u5834\u30012\u3064\u76ee\u306f\u5f71\u97ff\u304c\u4e2d\u7a0b\u5ea6\u306e\u5e02\u5834\u30013\u3064\u76ee\u306f\u3088\u308a\u5927\u304d\u306a\u5f71\u97ff\u3092\u53d7\u3051\u3066\u3044\u308b\u5e02\u5834\u3067\u3059\u3002\u7b2c2\u56db\u534a\u671f\u304a\u3088\u30736\u6708\u306e\u6642\u70b9\u3067\u306f\u3001\u5f15\u304d\u7d9a\u304d\u597d\u8abf\u306a\u5e02\u5834\u304c19\u5e02\u5834\u3042\u308a\u307e\u3057\u305f\u3002\u3053\u306e\u4e2d\u306b\u306f\u3001\u30d5\u30ed\u30ea\u30c0\u5dde\u306e6\u5e02\u5834\u3001\u30cb\u30e5\u30fc\u30b8\u30e3\u30fc\u30b8\u30fc\u5dde\u3001\u30e1\u30ea\u30fc\u30e9\u30f3\u30c9\u5dde\u3001\u30b7\u30e3\u30fc\u30ed\u30c3\u30c8\u3001\u30a4\u30f3\u30c7\u30a3\u30a2\u30ca\u30dd\u30ea\u30b9\u3001\u30b7\u30ab\u30b4\u3001\u30c0\u30e9\u30b9\u3001\u30d2\u30e5\u30fc\u30b9\u30c8\u30f3\u3001\u30b5\u30f3\u30a2\u30f3\u30c8\u30cb\u30aa\u3001\u30d5\u30a7\u30cb\u30c3\u30af\u30b9\u3001\u30b5\u30f3\u30c7\u30a3\u30a8\u30b4\u3001\u30aa\u30ec\u30f3\u30b8\u90e1\u3001\u30a4\u30f3\u30e9\u30f3\u30c9\u30a8\u30f3\u30d1\u30a4\u30a2\u304c\u542b\u307e\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u3053\u308c\u3089\u306e\u5e02\u5834\u306f\u3059\u3079\u3066\u3001\u5728\u5eab\u304c\u6975\u3081\u3066\u5c11\u306a\u3044\u3053\u3068\u306b\u52a0\u3048\u3001\u591a\u304f\u306e\u5e02\u5834\u304c\u597d\u8abf\u306a\u5730\u57df\u7d4c\u6e08\u3001\u96c7\u7528\u306e\u5897\u52a0\u3001\u79fb\u6c11\u306e\u5897\u52a0\u306b\u3088\u308b\u6069\u6075\u3092\u53d7\u3051\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u3089\u306e\u5e02\u5834\u306f\u597d\u8abf\u3092\u7dad\u6301\u3057\u3066\u3044\u307e\u3059\u304c\u3001\u5f53\u793e\u306e\u8ca9\u58f2\u30da\u30fc\u30b9\u3068\u4fa1\u683c\u6c7a\u5b9a\u529b\u306f\u3001\u5404\u5e02\u5834\u3068\u3082\u6a2a\u3070\u3044\u306b\u306a\u308a\u59cb\u3081\u3066\u3044\u308b\u304b\u3001\u6a2a\u3070\u3044\u306b\u306a\u3063\u3066\u3044\u307e\u3059\u3002\u8ca9\u58f2\u306e\u52e2\u3044\u3092\u7dad\u6301\u3059\u308b\u305f\u3081\u3001\u4f4f\u5b85\u30ed\u30fc\u30f3\u306e\u8cb7\u3044\u53d6\u308a\u5236\u5ea6\u3084\u5e02\u5834\u30a4\u30f3\u30bb\u30f3\u30c6\u30a3\u30d6\u3092\u6b63\u5e38\u5316\u3057\u307e\u3057\u305f\u3002\u30ab\u30c6\u30b4\u30ea\u30fc2\u306e\u5e02\u5834\u306f\u3001\u4fa1\u683c\u8a2d\u5b9a\u306e\u7de9\u3084\u304b\u306a\u8edf\u5316\u3068\u5e02\u5834\u306e\u6e1b\u901f\u3092\u53cd\u6620\u3057\u3066\u304a\u308a\u300110 \u306e\u5e02\u5834\u3092\u542b\u3093\u3067\u3044\u307e\u3059\u3002<\/p>\n

\u30a2\u30c8\u30e9\u30f3\u30bf\u3001\u30b3\u30ed\u30e9\u30c9\u3001\u30c1\u30e3\u30fc\u30eb\u30b9\u30c8\u30f3\u3001\u30de\u30fc\u30c8\u30eb\u30d3\u30fc\u30c1\u3001\u30ca\u30c3\u30b7\u30e5\u30d3\u30eb\u3001\u30d5\u30a3 \u30e9\u30c7\u30eb\u30d5\u30a3\u30a2\u3001\u30d0\u30fc\u30b8\u30cb\u30a2\u3001\u30d9\u30a4\u30a8\u30ea\u30a2\u3001\u30ea\u30ce\u3001\u30bd\u30eb\u30c8\u30ec\u30a4\u30af\u30b7\u30c6\u30a3\u304c\u542b\u307e\u308c\u307e \u3059\u3002\u3053\u308c\u3089\u306e\u5e02\u5834\u3067\u306f\u3001\u3044\u305a\u308c\u3082\u30c8\u30e9\u30d5\u30a3\u30c3\u30af\u304c\u920d\u5316\u3057\u3001\u30ad\u30e3\u30f3\u30bb\u30eb\u7387\u304c\u4e0a\u6607\u3057\u3066\u3044\u307e\u3059\u3002\u5404\u5e02\u5834\u306e\u5728\u5eab\u306f\u9650\u3089\u308c\u3066\u3044\u307e\u3059\u304c\u3001\u8ca9\u58f2\u53f0\u6570\u3092\u6e1b\u3089\u3059\u305f\u3081\u306b\u3001\u3088\u308a\u7a4d\u6975\u7684\u306a\u878d\u8cc7\u5236\u5ea6\u3084\u7684\u3092\u7d5e\u3063\u305f\u5024\u4e0b\u3052\u3092\u884c\u308f\u306a\u3051\u308c\u3070\u306a\u308a\u307e\u305b\u3093 — \u751f\u7523\u30b9\u30b1\u30b8\u30e5\u30fc\u30eb\u306b\u898b\u5408\u3063\u305f\u8ca9\u58f2\u53f0\u6570\u3092\u78ba\u4fdd\u3059\u308b\u305f\u3081\u306b\u306d\u3002\u8cfc\u5165\u8005\u304c\u7d0d\u5f97\u3067\u304d\u308b\u4f4f\u5b85\u30ed\u30fc\u30f3\u306e\u652f\u6255\u3044\u3092\u89e3\u6c7a\u3059\u308b\u305f\u3081\u306b\u3001\u8ca9\u58f2\u4fa1\u683c\u3092\u9078\u629e\u7684\u306b\u5f15\u304d\u4e0b\u3052\u308b\u3053\u3068\u306f\u3001\u3053\u308c\u3089\u306e\u5e02\u5834\u3067\u3046\u307e\u304f\u6a5f\u80fd\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u3053\u3046\u3057\u305f\u5024\u4e0a\u3052\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u6b63\u5473\u8ca9\u58f2\u4fa1\u683c\u306f\u524d\u5e74\u540c\u671f\u3092\u4e0a\u56de\u308b\u6c34\u6e96\u3067\u63a8\u79fb\u3057\u3066\u3044\u307e\u3059\u3002\u30ab\u30c6\u30b4\u30ea\u30fc3\u306e\u5e02\u5834\u306f\u3001\u3088\u308a\u5927\u304d\u306a\u5e02\u5834\u306e\u8edf\u5316\u3068\u8abf\u6574\u3092\u53cd\u6620\u3057\u3066\u304a\u308a\u30017\u3064\u306e\u5e02\u5834\u304c\u542b\u307e\u308c\u307e\u3059\u3002\u30ed\u30fc\u30ea\u30fc\u3001\u30df\u30cd\u30bd\u30bf\u3001\u30aa\u30fc\u30b9\u30c6\u30a3\u30f3\u3001\u30ed\u30b5\u30f3\u30bc\u30eb\u30b9\u3001\u30bb\u30f3\u30c8\u30e9\u30eb\u30d0\u30ec\u30fc\u3001\u30b5\u30af\u30e9\u30e1\u30f3\u30c8\u3001\u30b7\u30a2\u30c8\u30eb\u3067\u3059\u3002\u3053\u308c\u3089\u306e\u5e02\u5834\u306b\u3064\u3044\u3066\u3001\u307e\u305f\u3001\u5f53\u793e\u304c\u8ca9\u58f2\u9762\u3067\u3069\u306e\u3088\u3046\u306a\u6226\u7565\u3092\u884c\u3063\u3066\u3044\u308b\u304b\u306b\u3064\u3044\u3066\u3001\u6570\u5206\u9593\u304a\u8a71\u3057\u3057\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n

\u30ed\u30fc\u30ea\u30fc\u306f\u7b2c2 \u56db\u534a\u671f\u306f\u975e\u5e38\u306b\u597d\u8abf\u306a\u5e02\u5834\u3067\u3057\u305f\u304c\u30016 \u6708\u4e0a\u65ec\u306b\u5927\u304d\u304f\u8edf\u5316\u3057\u307e\u3057\u305f\u3002\u3053\u308c\u306f\u3001\u4f4f\u5b85\u30ed\u30fc\u30f3\u91d1\u5229\u306e\u4e0a\u6607\u3001\u904e\u53bb 2 \u5e74\u9593\u306e\u6025\u6fc0\u306a\u4fa1\u683c\u4e0a\u6607\u3001\u30c6\u30ad\u30b5\u30b9\u5dde\u306e\u96c7\u7528\u4e0d\u5b89\u306a\u3069\u304c\u91cd\u306a\u3063\u305f\u305f\u3081\u3067\u3059\u3002\u79c1\u305f\u3061\u306f\u3001\u5e02\u5834\u304c\u56de\u5fa9\u3059\u308b\u307e\u3067\u4fa1\u683c\u5727\u529b\u306f\u7d9a\u304f\u3068\u8003\u3048\u3001\u4fa1\u683c\u306e\u5f15\u304d\u4e0b\u3052\u3068\u7a4d\u6975\u7684\u306a\u4f4f\u5b85\u30ed\u30fc\u30f3\u8cb7\u3044\u53d6\u308a\u30d7\u30ed\u30b0\u30e9\u30e0\u3092\u63d0\u4f9b\u3057\u3066\u3044\u307e\u3059\u3002\u4fa1\u683c\u8abf\u6574\u304c\u52b9\u3092\u594f\u3057\u59cb\u3081\u3001\u8ca9\u58f2\u6d3b\u52d5\u3082\u5b89\u5b9a\u3057\u59cb\u3081\u307e\u3057\u305f\u3002<\/p>\n

\u30d7\u30e9\u30b9\u9762\u3067\u306f\u3001\u30ad\u30e3\u30f3\u30bb\u30eb\u7387\u306f\u554f\u984c\u306b\u306a\u3063\u3066\u304a\u3089\u305a\u3001\u5728\u5eab\u306f\u9650\u3089\u308c\u3066\u304a\u308a\u3001\u5f53\u793e\u306e\u7d14\u65b0\u898f\u53d7\u6ce8\u4fa1\u683c\u306f\u524d\u5e74\u540c\u671f\u6bd4\u3067\u4e0a\u6607\u3092\u7d9a\u3051\u3066\u3044\u307e\u3059\u3002\u305d\u306e\u7d50\u679c\u3001\u4eca\u5f8c\u5fc5\u8981\u306a\u4fa1\u683c\u8abf\u6574\u306e\u4f59\u5730\u3082\u3042\u308a\u307e\u3059\u3002\u30df\u30cd\u30bd\u30bf\u5dde\u5e02\u5834\u306f\u975e\u5e38\u306b\u53b3\u3057\u3044\u72b6\u6cc1\u3067\u3059\u3002\u3053\u306e\u5e02\u5834\u3067\u306f\u3001\u30d0\u30a4\u30e4\u30fc\u306f\u5e38\u306b\u4fdd\u5b88\u7684\u3067\u3059\u3002<\/p>\n

\u305d\u3057\u3066\u3001\u91d1\u5229\u304c\u4e0a\u6607\u3059\u308b\u306b\u3064\u308c\u3001\u73fe\u5728\u306e\u4fa1\u683c\u8a2d\u5b9a\u306b\u5bfe\u3059\u308b\u53cd\u767a\u304c\u5f37\u304f\u306a\u3063\u3066\u3044\u307e\u3059\u3002\u30df\u30cd\u30bd\u30bf\u5dde\u3067\u306f\u79fb\u4f4f\u8005\u304c\u307b\u3068\u3093\u3069\u3044\u306a\u3044\u305f\u3081\u3001\u5730\u5143\u306e\u30d0\u30a4\u30e4\u30fc\u3057\u304b\u304a\u3089\u305a\u3001\u4fa1\u683c\u8a2d\u5b9a\u304c\u3088\u308a\u56f0\u96e3\u306b\u306a\u3063\u3066\u3044\u307e\u3059\u3002\u79c1\u305f\u3061\u306f\u3001\u5f37\u529b\u306a\u5024\u4e0b\u3052\u3068\u7af6\u4e89\u529b\u306e\u3042\u308b\u4f4f\u5b85\u30ed\u30fc\u30f3\u30d7\u30ed\u30b0\u30e9\u30e0\u3067\u5bfe\u5fdc\u3057\u3001\u6a5f\u80fd\u3059\u308b\u4f4f\u5b85\u30ed\u30fc\u30f3\u660e\u7d30\u306b\u89e3\u6c7a\u3057\u3001\u8ca9\u58f2\u3092\u7acb\u3066\u76f4\u3057\u59cb\u3081\u3066\u3044\u307e\u3059\u3002\u30aa\u30fc\u30b9\u30c6\u30a3\u30f3\u306f\u3001\u30c6\u30ad\u30b5\u30b9\u5dde\u3067\u6700\u3082\u5f71\u97ff\u3092\u53d7\u3051\u305f\u5e02\u5834\u3067\u3059\u300240%\u4ee5\u4e0a\u306e\u4e0a\u6607\u3068\u5728\u5eab\u306e\u5165\u672d\u5408\u6226\u3092\u9023\u7d9a\u3057\u3066\u7d4c\u9a13\u3057\u305f\u304b\u3089\u3067\u3059\u3002<\/p>\n

6 \u6708\u306e\u91d1\u5229\u4e0a\u6607\u3068\u682a\u5f0f\u5e02\u5834\u306e\u4e0b\u843d\u3084\u82e6\u5883\u306b\u3042\u308b\u56fd \u5bb6\u7d4c\u6e08\u306b\u95a2\u3059\u308b\u30d8\u30c3\u30c9\u30e9\u30a4\u30f3\u306f\u3001\u4f4f\u5b85\u4fa1\u5024\u306e\u30ea\u30bb\u30c3\u30c8\u3092 \u5f85\u3063\u3066\u3044\u308b\u591a\u304f\u306e\u30d0\u30a4\u30e4\u30fc\u3092\u9060\u3056\u3051\u3066\u3044\u307e\u3059\u3002\u5728\u5eab\u306f\u9650\u3089\u308c\u3066\u3044\u307e\u3059\u304c\u3001\u30ad\u30e3\u30f3\u30bb\u30eb\u7387\u304c\u4e0a\u6607\u3057\u3001\u591a\u304f\u306e\u30b3\u30df\u30e5\u30cb\u30c6\u30a3\u3067\u4f4f\u5b85\u3054\u3068\u306b\u4fa1\u683c\u3092\u4e0b\u3052\u3001\u975e\u5e38\u306b\u7af6\u4e89\u529b\u306e\u3042\u308b\u4f4f\u5b85\u30ed\u30fc\u30f3\u30d7\u30ed\u30b0\u30e9\u30e0\u3092\u63d0\u4f9b\u3057\u3066\u3044\u307e\u3059\u3002\u3053\u3046\u3057\u305f\u4fa1\u683c\u8abf\u6574\u306b\u3088\u308a\u3001\u8ca9\u58f2\u6d3b\u52d5\u304c\u6d3b\u767a\u5316\u3057\u59cb\u3081\u3066\u3044\u307e\u3059\u3002\u30aa\u30fc\u30b9\u30c6\u30a3\u30f3\u306f\u3001\u5931\u696d\u7387\u304c\u4f4e\u304f\u3001\u5165\u5c45\u7387\u304c\u9ad8\u304f\u3001\u4f4f\u5b85\u5728\u5eab\u304c\u5c11\u306a\u304f\u3001\u96c7\u7528\u306e\u5897\u52a0\u304c\u898b\u8fbc\u307e\u308c\u308b\u3053\u3068\u304b\u3089\u3001\u9577\u671f\u7684\u306b\u6210\u9577\u3059\u308b\u5730\u57df\u3068\u3044\u3048\u307e\u3059\u3002<\/p>\n

\u30ed\u30b5\u30f3\u30bc\u30eb\u30b9\u3001\u30bb\u30f3\u30c8\u30e9\u30eb\u30d0\u30ec\u30fc\u3001\u30b5\u30af\u30e9\u30e1\u30f3\u30c8\u306e\u5404\u90fd\u5e02\u3067\u306f\u30015 \u6708\u4e0b\u65ec\u304b\u3089 6 \u6708\u306b\u304b\u3051\u3066\u4ea4\u901a\u91cf\u304c\u6fc0\u6e1b\u3057\u3001\u5927\u5e45\u306a\u6e1b\u901f\u3092\u7d4c\u9a13\u3057\u307e\u3057\u305f\u3002\u91d1\u5229\u306e\u9ad8\u9a30\u306b\u3088\u308a\u3001\u3053\u308c\u3089\u306e\u5e02\u5834\u306e\u8cfc\u5165\u8005\u306e\u4fe1\u7528\u5ea6\u306f\u6975\u3081\u3066\u4f4e\u304f\u3001\u4fa1\u683c\u8abf\u6574\u306b\u3088\u308a\u30ad\u30e3\u30f3\u30bb\u30eb\u7387\u304c\u9ad8\u307e\u3063\u305f\u305f\u3081\u3001\u878d\u8cc7\u306e\u30a4\u30f3\u30bb\u30f3\u30c6\u30a3\u30d6\u3092\u6d3b\u7528\u3057\u3001\u5834\u5408\u306b\u3088\u3063\u3066\u306f\u30bd\u30fc\u30e9\u30fc\u30b7\u30b9\u30c6\u30e0\u3060\u3051\u3067\u306a\u304f\u4f4f\u5b85\u30d1\u30c3\u30b1\u30fc\u30b8\u3082\u542b\u3081\u3066\u8ca9\u58f2\u56de\u5fa9\u306b\u52aa\u3081\u307e\u3057\u305f\u3002\u53d7\u6ce8\u5358\u4fa1\u306f\u524d\u5e74\u540c\u671f\u3092\u4e0a\u56de\u308b\u6c34\u6e96\u3067\u63a8\u79fb\u3057\u3066\u304a\u308a\u3001\u5b8c\u6210\u5728\u5eab\u3082\u6982\u306d\u554f\u984c\u306a\u304f\u63a8\u79fb\u3057\u3066\u3044\u307e\u3059\u3002\u554f\u984c\u306f\u3001\u3053\u306e\u3088\u3046\u306a\u5e02\u5834\u3067\u901a\u7528\u3059\u308b\u4f4f\u5b85\u30ed\u30fc\u30f3\u306e\u660e\u7d30\u3092\u89e3\u6c7a\u3059\u308b\u305f\u3081\u306b\u3001\u4fa1\u683c\u3092\u30ea\u30bb\u30c3\u30c8\u3059\u308b\u3053\u3068\u304c\u5f15\u304d\u7d9a\u304d\u5fc5\u8981\u3067\u3059\u3002<\/p>\n

\u3053\u308c\u306f\u3001\u30b9\u30c1\u30e5\u30a2\u30fc\u30c8\u304c\u5192\u982d\u306e\u767a\u8a00\u3067\u8ff0\u3079\u305f\u3053\u3068\u3068\u4e00\u81f4\u3057\u3066\u3044\u307e\u3059\u3002\u30b7\u30a2\u30c8\u30eb\u306f\u904e\u53bb2\u5e74\u9593\u3001\u5168\u7c73\u3067\u6700\u3082\u597d\u8abf\u306a\u5e02\u5834\u306e1\u3064\u3067\u3057\u305f\u3002\u3053\u306e\u5e02\u5834\u3067\u306f\u3001\u5f37\u3044\u7d71\u5408\u3001\u5805\u5b9f\u306a\u96c7\u7528\u306e\u5897\u52a0\u3001\u305d\u3057\u3066\u8ca9\u58f2\u4fa1\u683c\u306f\u3053\u3053\u6570\u5e74\u305d\u308c\u305e\u308c\u6bce\u5e74\u7d0420\uff05\u306e\u4f38\u3073\u3092\u793a\u3057\u307e\u3057\u305f\u3002\u571f\u5730\u4f9b\u7d66\u304c\u9650\u3089\u308c\u3001\u5728\u5eab\u304c\u5c11\u306a\u3044\u3068\u3044\u3046\u5e02\u5834\u306e\u30d5\u30a1\u30f3\u30c0\u30e1\u30f3\u30bf\u30eb\u30ba\u306f\u6975\u3081\u3066\u5f37\u3044\u307e\u307e\u3067\u3059\u304c\u3001\u8cb7\u3044\u624b\u306f\u4fa1\u683c\u8a2d\u5b9a\u306e\u30ea\u30bb\u30c3\u30c8\u3092\u6c42\u3081\u3066\u62bc\u3057\u8fd4\u3057\u3066\u304d\u307e\u3057\u305f\u3002<\/p>\n

\u30b7\u30a2\u30c8\u30eb\u5468\u8fba\u306e\u9ad8\u4fa1\u683c\u5e2f\u3084\u4eba\u6c17\u306e\u9ad8\u3044\u5834\u6240\u3067\u306f\u30015\u6708\u30686\u6708\u4e0a\u65ec\u306b\u8ca9\u58f2\u6570\u304c\u5927\u5e45\u306b\u6e1b\u5c11\u3057\u307e\u3057\u305f\u3002\u3053\u306e\u5f15 \u304d\u623b\u3057\u306f\u3001\u7b2c1\u56db\u534a\u671f\u306b\u4fa1\u683c\u4e0a\u6607\u304c\u7d9a\u304d\u3001\u4f4f\u5b85\u4fa1 \u683c\u306e\u5272\u9ad8\u611f\u304c\u61f8\u5ff5\u3055\u308c\u305f\u3053\u3068\u3068\u3001\u682a\u5f0f\u5e02\u5834\u306e\u4fee\u6b63 \u304c\u5f93\u696d\u54e1\u306e\u682a\u5f0f\u5831\u916c\u5236\u5ea6\u306b\u76f4\u63a5\u5f71\u97ff\u3057\u305f\u3053\u3068\u306e\u4e21\u65b9 \u304c\u539f\u56e0\u3068\u306a\u3063\u3066\u3044\u307e\u3059\u3002\u4e00\u90e8\u306e\u5730\u57df\u3067\u306f\u7b2c4\u56db\u534a\u671f\u306b\u4fa1\u683c\u8abf\u6574\u3092\u884c\u3044\u307e\u3057\u305f\u304c\u3001\u3053\u306e\u8abf\u6574\u306b\u3088\u308a\u58f2\u4e0a\u306f\u5897\u52a0\u3057\u3066\u304a\u308a\u3001\u5e02\u5834\u306e\u5e95\u529b\u3092\u793a\u3057\u3066\u3044\u307e\u3059\u3002\u3053\u306e\u3088\u3046\u306a\u5e02\u5834\u306b\u304a\u3044\u3066\u3001\u79c1\u305f\u3061\u306f\u524d\u5e74\u540c\u671f\u3092\u5927\u5e45\u306b\u4e0a\u56de\u308b\u4fa1\u683c\u3067\u8ca9\u58f2\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u3053\u308c\u3067\u3001\u5168\u56fd\u306e\u5e02\u5834\u306b\u3064\u3044\u3066\u3001\u307e\u305f\u3001\u8ca9\u58f2\u6d3b\u52d5\u3092\u7dad\u6301\u3059\u308b\u305f\u3081\u306b\u79c1\u305f\u3061\u304c\u884c\u3063\u3066\u3044\u308b\u3053\u3068\u306b\u3064\u3044\u3066\u3001\u3088\u308a\u3088\u304f\u3054\u7406\u89e3\u3044\u305f\u3060\u3051\u308b\u3068\u601d\u3044\u307e\u3059\u3002\u5e02\u5834\u306f\u975e\u5e38\u306b\u6d41\u52d5\u7684\u3067\u3042\u308a\u3001\u79c1\u305f\u3061\u306f\u65e5\u3005\u3001\u6226\u7565\u7684\u306a\u5224\u65ad\u3068\u8abf\u6574 \u3092\u884c\u3063\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u307e\u3067\u306b\u3082\u7533\u3057\u4e0a\u3052\u3066\u304d\u305f\u3088\u3046\u306b\u3001\u79c1\u305f\u3061\u306f\u4f4f\u5b85\u5efa\u8a2d\u6a5f\u68b0\u3092\u7a3c\u50cd\u3055\u305b\u3001\u7740\u5de5\u30da\u30fc\u30b9\u3092\u7dad\u6301\u3057\u3001\u5e02\u5834\u306b\u5408\u308f\u305b\u305f\u4fa1\u683c\u8a2d\u5b9a\u3092\u3057\u3066\u3044\u304f\u3064\u3082\u308a\u3067\u3059\u3002\u3067\u306f\u3001Jon\u306b\u8a71\u3092\u8b72\u308a\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n

\u30b8\u30e7\u30f3\u30fb\u30b8\u30e3\u30c3\u30d5\u30a7 — \u5171\u540c\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\u517c\u5171\u540c\u793e\u9577<\/p>\n

\u3042\u308a\u304c\u3068\u3046\u3001\u30ea\u30c3\u30af\u3002\u4eca\u671d\u306f\u3001\u571f\u5730\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u3068\u30b5\u30d7\u30e9\u30a4\u30c1\u30a7\u30fc\u30f3\u306e\u72b6\u6cc1\u306b\u3064\u3044\u3066\u304a\u8a71\u3057\u307e\u3059\u3002\u6295\u8cc7\u5bb6\u306e\u7686\u69d8\u306e\u95a2\u5fc3\u306f\u8ca9\u58f2\u3068\u91d1\u5229\u306b\u96c6\u4e2d\u3057\u3066\u3044\u308b\u3068\u601d\u3044\u307e\u3059\u306e\u3067\u3001\u624b\u77ed\u306b\u304a\u8a71\u3057\u3057\u307e\u3059\u3002\u7ba1\u7406\u4f4f\u5b85\u5730\u306e\u6bd4\u7387\u304c\u6628\u5e74\u306e50%\u304b\u3089\u7b2c2\u56db\u534a\u671f\u672b\u306b\u306f62%\u306b\u4e0a\u6607\u3057\u305f\u3053\u3068\u304b\u3089\u3082\u308f\u304b\u308b\u3088\u3046\u306b\u3001\u30e9\u30f3\u30c9\u30e9\u30a4\u30c8\u6226\u7565\u304c\u5f15\u304d\u7d9a\u304d\u7d20\u6674\u3089\u3057\u3044\u9032\u6357\u3092\u9042\u3052\u3066\u3044\u308b\u3053\u3068\u306b\u6e80\u8db3\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u307e\u305f\u3001\u4fdd\u6709\u5b85\u5730\u306e\u4f9b\u7d66\u5e74\u6570\u3082\u6628\u5e74\u306e3.3\u5e74\u304b\u3089\u7b2c2\u56db\u534a\u671f\u672b\u306b\u306f3.1\u5e74\u306b\u77ed\u7e2e\u3055\u308c\u3001\u5f15\u304d\u7d9a\u304d\u9032\u5c55\u3057\u3066\u3044\u307e\u3059\u3002\u73fe\u5728\u307e\u3067\u306b\u3001\u30af\u30aa\u30fc\u30bf\u30fc\u30e9\u306e\u7e26\u5272\u308a\u7d44\u7e54\u3068\u306a\u308b\u571f\u5730\u6226\u7565\u30b0\u30eb\u30fc\u30d7\u3068\u5354\u50cd\u3057\u3066\u3001\u4fdd\u6709\u571f\u5730\u5e74\u6570\u306e\u3055\u3089\u306a\u308b\u524a\u6e1b\u3092\u7d99\u7d9a\u3057\u3066\u3044\u307e\u3059\u3002\u3053\u306e\u6226\u7565\u306b\u3088\u308a\u3001\u7d04100\u5104\u30c9\u30eb\u306e\u571f\u5730\u3068\u571f\u5730\u958b\u767a\u3092\u6240\u6709\u304b\u3089\u7ba1\u7406\u3078\u8ee2\u63db\u3057\u3001\u4f4f\u5b85\u5efa\u8a2d\u6a5f\u68b0\u306b\u30b8\u30e3\u30b9\u30c8\u30a4\u30f3\u30bf\u30a4\u30e0\u306e\u4f4f\u5b85\u7528\u5730\u3092\u4f9b\u7d66\u3059\u308b\u3053\u3068\u306b\u6210\u529f\u3057\u307e\u3057\u305f\u3002\u571f\u5730\u306e\u8efd\u91cf\u5316\u30e2\u30c7\u30eb\u306b\u5fb9\u5e95\u7684\u306b\u3053\u3060\u308f\u3063\u305f\u7d50\u679c\u3001\u5f53\u56db\u534a\u671f\u306e\u571f\u5730\u53d6\u5f97\u306b\u304b\u304b\u308b\u73fe\u91d1\u652f\u51fa\u306f\u5927\u5e45\u306b\u524a\u6e1b\u3055\u308c\u307e\u3057\u305f\u3002<\/p>\n

\u73fe\u91d113\u5104\u30c9\u30eb\u3001\u30ea\u30dc\u30eb\u30d0\u30fc26\u5104\u30c9\u30eb\u306e\u501f\u5165\u91d1\u306a\u3057\u3001\u4f4f\u5b85\u30ed\u30fc\u30f3\u6bd4\u7387\u306f17.7%\u3067\u3001\u524d\u8ff0\u306e\u3068\u304a\u308a\u5f53\u56db\u534a\u671f\u3092\u7d42\u4e86\u3057\u307e\u3057\u305f\u3002Stuart\u304c\u8ff0\u3079\u305f\u3088\u3046\u306b\u3001\u5f53\u793e\u306f\u512a\u308c\u305f\u8efd\u91cf\u8cc7\u7523\u3068\u975e\u5e38\u306b\u5f37\u56fa\u306a\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u3092\u57fa\u76e4\u3068\u3057\u3066\u3001\u5909\u5316\u3059\u308b\u91d1\u5229\u74b0\u5883\u306b\u3082\u5bfe\u5fdc\u3067\u304d\u308b\u3088\u3046\u306a\u4f53\u5236\u3092\u6574\u3048\u3066\u3044\u307e\u3059\u3002\u6b21\u306b\u30b5\u30d7\u30e9\u30a4\u30c1\u30a7\u30fc\u30f3\u306b\u3064\u3044\u3066\u3067\u3059\u304c\u3001\u3053\u308c\u306f\u696d\u754c\u306b\u3068\u3063\u3066\u3088\u304f\u77e5\u3089\u308c\u305f\u8ab2\u984c\u3067\u3059\u3002\u7b2c2\u56db\u534a\u671f\u306f\u3001\u3044\u304f\u3064\u304b\u306e\u597d\u6750\u6599\u3092\u63d0\u793a\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3057\u305f\u3002<\/p>\n

\u65ad\u7d9a\u7684\u306a\u6df7\u4e71\u3068\u5efa\u8a2d\u30b3\u30b9\u30c8\u306e\u4e0a\u6607\u306f\u307e\u3060\u7d9a\u3044\u3066\u3044\u307e\u3059\u3002\u3057\u304b\u3057\u3001\u6df7\u4e71\u304c\u59cb\u307e\u3063\u3066\u4ee5\u6765\u521d\u3081\u3066\u3001\u30b5\u30a4\u30af\u30eb\u30bf\u30a4\u30e0\u304c\u5e73\u5766\u5316\u3059\u308b\u306e\u3092\u76ee\u306e\u5f53\u305f\u308a\u306b\u3057\u307e\u3057\u305f\u3002\u904e\u53bb4\u30f6\u6708\u9593\u3001\u30b5\u30a4\u30af\u30eb\u30bf\u30a4\u30e0\u306f\u308f\u305a\u304b5\u65e5\u3057\u304b\u4f38\u3073\u3066\u304a\u3089\u305a\u3001\u3053\u308c\u306f\u30d4\u30fc\u30af\u3092\u793a\u3059\u3082\u306e\u3060\u3068\u8003\u3048\u3066\u3044\u307e\u3059\u3002\u307e\u305f\u3001\u7b2c2\u56db\u534a\u671f\u306f\u7b2c1\u56db\u534a\u671f\u306b\u6bd4\u3079\u3066\u7d0425\uff05\u306e\u5e02\u5834\u3067\u30b5\u30a4\u30af\u30eb\u30bf\u30a4\u30e0\u304c\u77ed\u7e2e\u3055\u308c\u307e\u3057\u305f\u3002<\/p>\n

\u307e\u3060\u8ab2\u984c\u306f\u6b8b\u3063\u3066\u3044\u307e\u3059\u304c\u3001\u30b5\u30a4\u30af\u30eb\u30bf\u30a4\u30e0\u306e\u5e73\u6e96\u5316\u3060\u3051\u3067\u306a\u304f\u3001\u7b2c2\u56db\u534a\u671f\u306e\u30af\u30ed\u30fc\u30b8\u30f3\u30b0\u306e\u30ac\u30a4\u30c0\u30f3\u30b9\u306e\u4e0a\u9650\u3092\u4e0a\u56de\u3063\u3066\u3044\u308b\u3053\u3068\u304b\u3089\u3082\u308f\u304b\u308b\u3088\u3046\u306b\u3001\u52b9\u679c\u7684\u306b\u7ba1\u7406\u3057\u3066\u3044\u307e\u3059\u3002\u7b2c2\u56db\u534a\u671f\u306e\u76f4\u63a5\u5c0e\u5165\u8cbb\u7528\u306f\u524d\u56db\u534a\u671f\u6bd41.6%\u5897\u3001\u524d\u5e74\u540c\u671f\u6bd420%\u5897\u3068\u306a\u308a\u3001\u3044\u305a\u308c\u30822021\u5e74\u7b2c1\u56db\u534a\u671f\u304a\u3088\u3073\u7b2c4\u56db\u534a\u671f\u306e\u540c\u6642\u671f\u306e\u6bd4\u8f03\u53ef\u80fd\u306a\u5897\u52a0\u7387\u3092\u4e0b\u56de\u3063\u3066\u3044\u307e\u3059\u3002\u7b2c2\u56db\u534a\u671f\u306e\u5897\u52a0\u5206\u306f\u3001\u3059\u3079\u3066\u4eba\u4ef6\u8cbb\u306e\u4e0a\u6607\u304c\u5360\u3081\u3066\u3044\u307e\u3059\u3002\u6750\u6599\u8cbb\u306f\u3001\u6628\u5e74\u5f8c\u534a\u306e\u30b9\u30bf\u30fc\u30c8\u306b\u3088\u308b\u6728\u6750\u306e\u4f4e\u4fa1\u683c\u5316\u306b\u3088\u308a\u4f4e\u4e0b\u3057\u307e\u3057\u305f\u3002<\/p>\n

2022\u5e74\u5f8c\u534a\u306f\u3001\u7b2c1\u56db\u534a\u671f\u306b\u6025\u9a30\u3057\u305f\u6728\u6750\u306e\u4e0a\u6607\u304c\u305d\u308c\u3089\u306e\u30af\u30ed\u30fc\u30b8\u30f3\u30b0\u306b\u6d41\u308c\u308b\u305f\u3081\u3001\u30b3\u30b9\u30c8\u304c\u518d\u3073\u4e0a\u6607\u3059\u308b\u3068\u8003\u3048\u3066\u3044\u307e\u3059\u3002\u7b2c2\u56db\u534a\u671f\u672b\u304b\u3089\u59cb\u307e\u3063\u305f\u6728\u6750\u4fa1\u683c\u306e\u4e0b\u843d\u306f\u3001\u4eca\u5e74\u5f8c\u534a\u306e\u7740\u5de5\u30682023\u5e74\u524d\u534a\u306e\u7d0d\u5165\u306b\u95a2\u9023\u3059\u308b\u30b3\u30b9\u30c8\u3092\u4e0b\u3052\u308b\u3053\u3068\u306b\u306a\u308b\u3067\u3057\u3087\u3046\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002\u305d\u308c\u3067\u306f\u3001Diane\u306b\u30d0\u30c8\u30f3\u30bf\u30c3\u30c1\u3057\u307e\u3059\u3002<\/p>\n

\u30c0\u30a4\u30a2\u30f3\u30fb\u30d9\u30bb\u30c3\u30c8\uff08Diane Bessette\uff09\uff1a\u6700\u9ad8\u8ca1\u52d9\u8cac\u4efb\u8005<\/p>\n

\u30b8\u30e7\u30f3\u3055\u3093\u3001\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u30b9\u30c1\u30e5\u30a2\u30fc\u30c8\u3001\u30ea\u30c3\u30af\u3001\u30b8\u30e7\u30f3\u304c\u3001\u5f53\u793e\u306e\u4f4f\u5b85\u5efa\u8a2d\u306e\u696d\u7e3e\u306b\u3064\u3044\u3066\u975e\u5e38\u306b\u591a\u304f\u306e\u60c5\u5831\u3092\u63d0\u4f9b\u3057\u3066\u304f\u308c\u307e\u3057\u305f\u3002\u305d\u3053\u3067\u79c1\u306f\u3001\u4ed6\u306e\u4e8b\u696d\u90e8\u9580\u306e\u696d\u7e3e\u3068\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u306b\u3064\u3044\u3066\u6570\u5206\u89e6\u308c\u3001\u305d\u306e\u5f8c\u3001\u7b2c3\u56db\u534a\u671f\u306b\u5411\u3051\u305f\u79c1\u305f\u3061\u306e\u8003\u3048\u3092\u78ba\u8a8d\u3057\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002\u307e\u305a\u3001\u91d1\u878d\u30b5\u30fc\u30d3\u30b9\u90e8\u9580\u304b\u3089\u3054\u8aac\u660e\u3057\u307e\u3059\u3002<\/p>\n

\u7b2c2\u56db\u534a\u671f\u306e\u91d1\u878d\u30b5\u30fc\u30d3\u30b9\u90e8\u9580\u306e\u55b6\u696d\u5229\u76ca\u306f1\u5104400\u4e07\u30c9\u30eb\u3068\u306a\u308a\u3001\u30ac\u30a4\u30c0\u30f3\u30b9\u306e\u4e0a\u9650\u3092\u308f\u305a\u304b\u306b\u4e0a\u56de\u308a \u307e\u3057\u305f\u3002\u30e2\u30fc\u30b2\u30fc\u30b8\u3068\u30bf\u30a4\u30c8\u30eb\u306e\u8a73\u7d30\u3092\u898b\u308b\u3068\u3001\u30e2\u30fc\u30b2\u30fc\u30b8\u306e\u55b6\u696d\u5229\u76ca\u306f\u3001\u524d\u5e74\u5ea6\u306e9200\u4e07\u30c9\u30eb\u306b\u5bfe\u3057\u30017400\u4e07\u30c9\u30eb\u3067\u3057\u305f\u3002\u6570\u56db\u534a\u671f\u524d\u304b\u3089\u7533\u3057\u4e0a\u3052\u3066\u3044\u308b\u3088\u3046\u306b\u3001\u307e\u305f\u30e1\u30c7\u30a3\u30a2\u3067\u3082\u5927\u304d\u304f\u53d6\u308a\u4e0a\u3052\u3089\u308c\u3066\u3044\u308b\u3088\u3046\u306b\u3001\u4f4f\u5b85\u30ed\u30fc\u30f3\u5e02\u5834\u306f\u3001\u501f\u308a\u63db\u3048\u9700\u8981\u304c\u307b\u307c\u505c\u6b62\u3057\u3001\u518d\u8ca9\u5728\u5eab\u304c\u6e1b\u5c11\u3057\u3066\u3044\u308b\u305f\u3081\u3001\u8cfc\u5165\u30d3\u30b8\u30cd\u30b9\u306b\u304a\u3044\u3066\u975e\u5e38\u306b\u53b3\u3057\u3044\u7af6\u4e89\u3068\u306a\u3063\u3066\u3044\u307e\u3059\u3002\u305d\u306e\u7d50\u679c\u30012 \u6b21\u30de\u30fc\u30b8\u30f3\u306f\u4f4e\u4e0b\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u3053\u308c\u304c\u7b2c 2 \u56db\u534a\u671f\u306e\u53ce\u76ca\u6e1b\u5c11\u306e\u4e3b\u306a\u8981\u56e0\u3067\u3059\u3002\u6a29\u5229\u95a2\u4fc2\u306e\u55b6\u696d\u5229\u76ca\u306f\u3001\u524d\u5e74\u540c\u671f\u306e 2,400 \u4e07\u30c9\u30eb\u306b\u5bfe\u3057\u30013,000 \u4e07\u30c9\u30eb\u3068\u306a\u308a\u307e\u3057\u305f\u3002\u3053\u308c\u306f\u4e3b\u306b\u3001\u53d6\u5f15\u3042\u305f\u308a\u306e\u5e73\u5747\u8ca9\u58f2\u4fa1\u683c\u306e\u4e0a\u6607\u306b\u3088\u308a\u3001\u4fdd\u967a\u6599\u304c\u5897\u52a0\u3057\u305f\u305f\u3081\u3067\u3059\u3002\u6b21\u306b\u3001\u30ec\u30ca\u30fc\u30fb\u305d\u306e\u4ed6\u30bb\u30b0\u30e1\u30f3\u30c8\u306b\u3064\u3044\u3066\u3067\u3059\u3002<\/p>\n

\u7b2c2\u56db\u534a\u671f\u306e\u30ec\u30ca\u30fc\u305d\u306e\u4ed6\u90e8\u9580\u306e\u55b6\u696d\u640d\u5931\u306f\u30011\u5104800\u4e07\u30c9\u30eb\u3068\u306a\u308a\u307e\u3057\u305f\u3002\u3053\u306e\u640d\u5931\u306f\u4e3b\u306b\u3001\u516c\u958b\u4f1a\u793e\u306e\u30c6\u30af\u30ce\u30ed\u30b8\u30fc\u6295\u8cc7\u306b\u5bfe\u3059\u308b\u73fe\u91d1\u652f\u51fa\u3092\u4f34\u308f\u306a\u3044\u6642\u4fa1\u8a55\u4fa1\u640d\u3001\u5408\u8a087800\u4e07\u30c9\u30eb\u306b\u8d77\u56e0\u3059\u308b\u3082\u306e\u3067\u3059\u3002\u6b8b\u308a\u306e\u640d\u5931\u306f\u3001\u4e3b\u306b\u5f53\u5206\u91ce\u306b\u304a\u3051\u308b\u305d\u306e\u4ed6\u306e\u6226\u7565\u7684\u6295\u8cc7\u306b\u95a2\u9023\u3059\u308b\u3082\u306e\u3067\u3059\u3002\u524d\u306b\u3082\u8ff0\u3079\u305f\u3068\u304a\u308a\u3001\u5f53\u793e\u306f\u682a\u5f0f\u516c\u958b\u3055\u308c\u3066\u3044\u308b\u591a\u304f\u306e\u6280\u8853\u95a2\u9023\u6295\u8cc7\u3092\u6642\u4fa1\u8a55\u4fa1\u3059\u308b\u5fc5\u8981\u304c\u3042\u308a\u3001\u305d\u306e\u8a55 \u4fa1\u984d\u306f\u56db\u534a\u671f\u3054\u3068\u306b\u5909\u52d5\u3057\u307e\u3059\u3002<\/p>\n

\u3057\u304b\u3057\u3001\u3053\u308c\u3089\u306e\u6280\u8853\u63d0\u643a\u306f\u3001\u4f4f\u5b85\u5efa\u8a2d\u3068\u91d1\u878d\u30b5\u30fc\u30d3\u30b9\u53cc\u65b9\u306e\u30d7\u30e9\u30c3\u30c8\u30d5\u30a9\u30fc\u30e0\u306b\u5927\u304d\u306a\u696d\u52d9\u52b9\u7387\u3092\u3082\u305f\u3089\u3057\u3001\u4f4f\u5b85\u8cfc\u5165\u8005\u306e\u4f53\u9a13\u3092\u5927\u304d\u304f\u5411\u4e0a\u3055\u305b\u308b\u3068\u5f15\u304d\u7d9a\u304d\u8003\u3048\u3066\u3044\u307e\u3059\u3002\u6b21\u306b\u8cb8\u501f\u5bfe\u7167\u8868\u3067\u3059\u3002\u524d\u8ff0\u306e\u3068\u304a\u308a\u3001\u5f53\u56db\u534a\u671f\u672b\u306e\u73fe\u91d1\u53ce\u5165\u306f13\u5104\u30c9\u30eb\u3001\u56de\u8ee2\u4fe1\u7528\u67a0\u306e\u501f\u5165\u306f\u306a\u304f\u3001\u5408\u8a0839\u5104\u30c9\u30eb\u306e\u4f4f\u5b85\u5efa\u8a2d\u5411\u3051\u6d41\u52d5\u6027\u3092\u78ba\u4fdd\u3057\u307e\u3057\u305f\u3002\u307e\u305f\u3001\u30af\u30ec\u30b8\u30c3\u30c8\u30fb\u30d5\u30a1\u30b7\u30ea\u30c6\u30a3\u306b\u95a2\u3057\u3066\u3001\u3082\u3046\u3072\u3068\u3064\u304a\u77e5\u3089\u305b\u3057\u307e\u3059\u3002<\/p>\n

\u5148\u6708\u3001\u3053\u306e\u878d\u8cc7\u67a0\u306e\u4fee\u6b63\u3068\u5ef6\u9577\u306b\u6210\u529f\u3057\u307e\u3057\u305f\u3002\u73fe\u5728\u3001\u7d0426\u5104\u30c9\u30eb\u306e\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8\u304c\u3042\u308a\u30013\u51045000\u4e07\u30c9\u30eb\u306f2024\u5e74\u306b\u300122\u5104\u30c9\u30eb\u306f2027\u5e74\u306b\u6e80\u671f\u3092\u8fce\u3048\u307e\u3059\u3002\u6295\u8cc7\u9069\u683c\u306e\u683c\u4ed8\u3051\u3092\u5f97\u305f\u3053\u3068\u3067\u3001\u3053\u306e\u878d\u8cc7\u306e\u5b9f\u884c\u306b\u5927\u3044\u306b\u6e80\u8db3\u3057\u3066\u3044\u307e\u3059\u3002\u5f53\u56db\u534a\u671f\u306f\u3001\u30b8\u30e7\u30f3\u304c\u8ff0\u3079\u305f\u3088\u3046\u306b\u3001\u571f\u5730\u306e\u8efd\u91cf\u5316\u306b\u5f15\u304d\u7d9a\u304d\u6ce8\u529b\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u305d\u306e\u7d50\u679c\u3001\u5f53\u56db\u534a\u671f\u672b\u73fe\u5728\u3001\u5f53\u793e\u306f 193,000 \u306e\u5b85\u5730\u3092\u4fdd\u6709\u3057\u3001319,000 \u306e\u5b85\u5730\u3092\u7ba1\u7406\u3057\u3066\u304a\u308a\u3001\u5408\u8a08\u3067 512,000 \u306e\u5b85\u5730\u3092\u4fdd\u6709\u3057\u3066\u3044\u307e\u3059\u3002\u3053\u306e\u3088\u3046\u306a\u4f4f\u5b85\u7528\u5730\u306e\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306f\u3001\u7d99\u7d9a\u7684\u306a\u5e02\u5834\u30b7\u30a7\u30a2\u62e1\u5927\u306b\u5411\u3051\u305f\u5f37\u529b\u306a\u7af6\u4e89\u529b\u3092\u6709\u3057\u3066\u3044\u307e\u3059\u3002\u307e\u305f\u3001\u652f\u914d\u5730\u6bd4\u7387\u306f\u524d\u671f\u306e50\uff05\u304b\u308962\uff05\u306b\u4e0a\u6607\u3057\u3001\u4fdd\u6709\u5e74\u6570\u306f\u524d\u671f\u306e3.3\u5e74\u304b\u30893.1\u5e74\u306b\u6539\u5584\u3057\u307e\u3057\u305f\u3002\u8a08\u753b\u7684\u306a\u53d6\u5f15\u306f\u56db\u534a\u671f\u3054\u3068\u306b\u5909\u52d5\u3057\u307e\u3059\u304c\u3001\u524d\u5e74\u540c\u671f\u6bd4\u3067\u306f\u524d\u9032\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u5e74\u672b\u307e\u3067\u306b\u4fdd\u6709\u5e74\u65702.75\u5e74\u3001\u4f4f\u5b85\u7528\u5730\u7ba1\u7406\u738765%\u3092\u9054\u6210\u3059\u308b\u3068\u3044\u3046\u76ee\u6a19\u306b\u5411\u3051\u3066\u3082\u9806\u8abf\u306b\u9032\u3093\u3067\u3044\u307e\u3059\u3002\u307e\u305f\u3001\u682a\u4e3b\u9084\u5143\u306e\u62e1\u5145\u306b\u3082\u5f15\u304d\u7d9a\u304d\u6ce8\u529b\u3057\u3066\u3044\u307e\u3059\u3002\u5f53\u56db\u534a\u671f\u306b\u306f\u3001410\u4e07\u682a\u3001\u7dcf\u984d3\u51042,100\u4e07\u30c9\u30eb\u306e\u81ea\u793e\u682a\u8cb7\u3044\u3092\u5b9f\u65bd\u3057\u307e\u3057\u305f\u3002\u307e\u305f\u3001\u5f53\u56db\u534a\u671f\u4e2d\u306b\u5408\u8a081\u51041,100\u4e07\u30c9\u30eb\u306e\u914d\u5f53\u91d1\u3092\u652f\u6255\u3044\u307e\u3057\u305f\u3002<\/p>\n

\u6b21\u306e\u30b7\u30cb\u30a2\u30ce\u30fc\u30c8\u306e\u6e80\u671f\u306f5\u51047,500\u4e07\u30c9\u30eb\u3067\u3001\u3053\u308c\u306f\u4eca\u5e7411\u6708\u306b\u5230\u6765\u3057\u307e\u3059\u3002\u307e\u305f\u30012023\u5e74\u5ea6\u306b\u306f\u8ca0\u50b5\u306e\u6e80\u671f\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u3053\u308c\u3089\u306e\u53d6\u5f15\u306e\u7d50\u679c\u3001\u7dcf\u8cc7\u672c\u306b\u5bfe\u3059\u308b\u4f4f\u5b85\u30ed\u30fc\u30f3\u306e\u6bd4\u7387\u306f17.7\uff05\u3068\u306a\u308a\u3001\u524d\u5e74\u306e23.1\uff05\u304b\u3089\u6539\u5584\u3055\u308c\u307e\u3057\u305f\u3002\u305d\u3057\u3066\u3001\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u306e\u898b\u8fd4\u308a\u3068\u3057\u3066\u3001\u682a\u4e3b\u8cc7\u672c\u306f220\u5104\u30c9\u30eb\u306b\u5897\u52a0\u3057\u307e\u3057\u305f\u3002\u4e00\u682a\u5f53\u308a\u7d14\u8cc7\u7523\u306f74.12%\u306b\u5897\u52a0\u3057\u307e\u3057\u305f\u3002<\/p>\n

\u5728\u5eab\u5229\u76ca\u7387\u306f30.5%\u3001\u682a\u4e3b\u8cc7\u672c\u5229\u76ca\u7387\u306f21.4%\u3067\u3057\u305f\u3002\u8981\u7d04\u3059\u308b\u3068\u3001\u5f53\u793e\u306e\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u306f\u5f37\u56fa\u3067\u3042\u308a\u3001\u5c06\u6765\u306b\u5411\u3051\u3066\u826f\u597d\u306a\u72b6\u614b\u306b\u3042\u308b\u3068\u3044\u3048\u307e\u3059\u3002\u4ee5\u4e0a\u3001\u7c21\u5358\u3067\u306f\u3054\u3056\u3044\u307e\u3059\u304c\u3001\u7b2c3\u56db\u534a\u671f\u306e\u6982\u6cc1\u3092\u3054\u8aac\u660e\u3055\u305b\u3066\u3044\u305f\u3060\u304d\u307e\u3057\u305f\u3002\u30d7\u30ec\u30b9\u30ea\u30ea\u30fc\u30b9\u3067\u3082\u7533\u3057\u4e0a\u3052\u307e\u3057\u305f\u3068\u304a\u308a\u3001\u5e02\u5834\u74b0\u5883\u304c\u4e0d\u900f\u660e\u306a\u3053\u3068\u304b\u3089\u3001\u901a\u5e38\u63d0\u4f9b\u3057\u3066\u3044\u308b\u3088\u3046\u306a\u7684\u3092\u5c04\u305f\u30ac\u30a4\u30c0\u30f3\u30b9\u3092\u63d0\u4f9b\u3059\u308b\u3053\u3068\u306f\u56f0\u96e3\u3067\u3059\u3002<\/p>\n

\u305d\u3053\u3067\u3001\u7b2c3\u56db\u534a\u671f\u306e\u5404\u69cb\u6210\u8981\u7d20\u306e\u5883\u754c\u7dda\u3092\u793a\u3059\u305f\u3081\u306b\u3001\u975e\u5e38\u306b\u5e45\u306e\u5e83\u3044\u30ec\u30f3\u30b8\u3092\u63d0\u793a\u3059\u308b\u3053\u3068\u304c\u3088\u308a\u9069\u5207\u3067\u3042\u308b\u3068\u8003\u3048\u307e\u3057 \u305f\u3002\u307e\u305a\u65b0\u898f\u53d7\u6ce8\u3067\u3059\u304c\u3001\u7b2c3\u56db\u534a\u671f\u306e\u65b0\u898f\u53d7\u6ce8\u306f1\u4e076,000\uff5e1\u4e078,000\u6238\u306e\u7bc4\u56f2\u306b\u306a\u308b\u3068\u4e88\u60f3\u3057\u3066\u3044\u307e\u3059\u3002\u7b2c3\u56db\u534a\u671f\u306e\u5f15\u6e21\u3057\u306f\u300117,000\uff5e18,500\u6238\u306e\u7bc4\u56f2\u306b\u306a\u308b\u3068\u4e88\u60f3\u3057\u3066\u3044\u307e\u3059\u3002\u7b2c3\u56db\u534a\u671f\u306e\u5e73\u5747\u8ca9\u58f2\u4fa1\u683c\u306f\u3001\u7b2c2\u56db\u534a\u671f\u306e\u5e73\u5747\u8ca9\u58f2\u4fa1\u683c\uff0848\u4e073,000\u30c9\u30eb\uff09\u3088\u308a\u82e5\u5e72\u9ad8\u304f\u306a\u308b\u898b\u8fbc\u307f\u3067\u3059\u3002<\/p>\n

\u58f2\u4e0a\u7dcf\u5229\u76ca\u7387\u306f28.5%\u304b\u308929.5%\u306e\u7bc4\u56f2\u306b\u306a\u308b\u3068\u4e88\u60f3\u3057\u3066\u3044\u307e\u3059\u3002\u307e\u305f\u3001\u8ca9\u58f2\u7ba1\u7406\u8cbb\u306f6%\u304b\u30896.5%\u306b\u306a\u308b\u3068\u4e88\u60f3\u3057\u3066\u3044\u307e\u3059\u3002\u4f4f\u5b85\u5efa\u8a2d\u3001\u5408\u5f01\u4e8b\u696d\u3001\u571f\u5730\u58f2\u5374\u3001\u305d\u306e\u4ed6\u306e\u30ab\u30c6\u30b4\u30ea\u30fc\u3092\u5408\u8a08\u3059\u308b\u3068\u3001\u7d041,000\u4e07\u30c9\u30eb\u306e\u640d\u5931\u3092\u898b\u8fbc\u3093\u3067\u3044\u307e\u3059\u3002\u305d\u308c\u304b\u3089\u3001\u7b2c3\u56db\u534a\u671f\u306e\u91d1\u878d\u30b5\u30fc\u30d3\u30b9\u90e8\u9580\u306e\u53ce\u76ca\u306f\u3001\u8cfc\u5165\u30d3\u30b8\u30cd\u30b9\u306e\u5e02\u5834\u7af6\u4e89\u304c\u6fc0\u5316\u3057\u3066\u3044\u308b\u305f\u3081\u30017,000\u4e07\u30c9\u30eb\u304b\u30897,500\u4e07\u30c9\u30eb\u306e\u7bc4\u56f2\u306b\u306a\u308b\u3068\u4e88\u60f3\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u96c6\u5408\u4f4f\u5b85\u4e8b\u696d\u306b\u3064\u3044\u3066\u306f\u3001\u7d042,000\u4e07\u30c9\u30eb\u306e\u5229\u76ca\u3092\u898b\u8fbc\u3093\u3067\u3044\u307e\u3059\u3002\u307e\u305f\u3001\u30ec\u30ca\u30fc\u305d\u306e\u4ed6\u306e\u30ab\u30c6\u30b4\u30ea\u30fc\u306b\u3064\u3044\u3066\u306f\u3001\u7d042,000\u4e07\u30c9\u30eb\u306e\u640d\u5931\u3092\u898b\u8fbc\u3093\u3067\u3044\u307e\u3059\u3002\u3053\u306e\u30ac\u30a4\u30c0\u30f3\u30b9\u306b\u306f\u3001\u6280\u8853\u6295\u8cc7\u306b\u5bfe\u3059\u308b\u6642\u4fa1\u8abf\u6574\u306e\u53ef\u80fd\u6027\u306f\u542b\u307e\u308c\u3066\u3044\u307e\u305b\u3093\u3002\u306a\u305c\u306a\u3089\u3001\u305d\u306e\u8abf\u6574\u306f\u56db\u534a\u671f\u672b\u306e\u682a\u4fa1\u306b\u3088\u3063\u3066\u6c7a\u5b9a\u3055\u308c\u308b\u304b\u3089\u3067\u3059\u3002\u7b2c3\u56db\u534a\u671f\u306e\u30b3\u30fc\u30dd\u30ec\u30fc\u30c8G&A\u306f\u3001\u58f2\u4e0a\u9ad8\u306e\u7d041.4\uff05\u3068\u306a\u308b\u898b\u8fbc\u307f\u3067\u3059\u3002<\/p>\n

\u6148\u5584\u57fa\u91d1\u3078\u306e\u5bc4\u4ed8\u306f\u3001\u4f4f\u5b85\u4f9b\u7d661\u68df\u3042\u305f\u308a1,000\u7c73\u30c9\u30eb\u3092\u4e88\u5b9a\u3057\u3066\u3044\u307e\u3059\u3002\u7a0e\u7387\u306f\u7d0424\uff05\u3001\u5f53\u56db\u534a\u671f\u306e\u52a0\u91cd\u5e73\u5747\u682a\u5f0f\u6570\u306f\u7d042\u51048,800\u4e07\u682a\u3068\u4e88\u60f3\u3057\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u3089\u306e\u3053\u3068\u304b\u3089\u3001\u3053\u306e\u30ac\u30a4\u30c0\u30f3\u30b9\u306f\u3001\u7b2c3\u56db\u534a\u671f\u306e1\u682a\u5f53\u308aEPS\u3092\u7d044.55\u30c9\u30eb\u304b\u30895.45\u30c9\u30eb\u306e\u7bc4\u56f2\u306b\u53ce\u3081\u308b\u3082\u306e\u3068\u601d\u308f\u308c\u307e\u3059\u3002\u6b21\u306b\u3001\u901a\u671f\u306b\u3064\u3044\u3066\u3067\u3059\u3002<\/p>\n

\u5148\u307b\u3069\u7533\u3057\u4e0a\u3052\u305f\u3068\u304a\u308a\u3001\u901a\u671f\u306e\u8ca9\u58f2\u6238\u6570\u306f\u7d046\u4e078,000\u6238\u3068\u3044\u3046\u524d\u56de\u4e88\u60f3\u3092\u7dad\u6301\u3057\u3066\u3044\u307e\u3059\u3002\u3057\u304b\u3057\u3001\u5e02\u5834\u306e\u72b6\u6cc1\u306f\u6d41\u52d5\u7684\u3067\u3042\u308b\u305f\u3081\u3001\u73fe\u6642\u70b9\u3067\u306f\u305d\u306e\u4ed6\u306e\u53ce\u76ca\u8981\u7d20\u306b\u95a2\u3059\u308b\u30ac\u30a4\u30c0\u30f3\u30b9\u306e\u66f4\u65b0\u306f\u884c\u3044\u307e\u305b\u3093\u3002\u7b2c4\u56db\u534a\u671f\u306e\u898b\u901a\u3057\u306b\u3064\u3044\u3066\u306f\u3001\u6b21\u56de\u306e\u6c7a\u7b97\u8aac\u660e\u4f1a\u3067\u304a\u4f1d\u3048\u3057\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002\u305d\u308c\u3067\u306f\u3001\u30aa\u30da\u30ec\u30fc\u30bf\u30fc\u306b\u8a71\u3092\u623b\u3057\u307e\u3059\u3002<\/p>\n

\u30aa\u30da\u30ec\u30fc\u30bf\u30fc<\/p>\n

\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002[\u6700\u521d\u306e\u8cea\u554f\u306f\u3001Evercore ISI\u306eStephen Kim\u304b\u3089\u3067\u3059\u3002\u3069\u3046\u305e\u3088\u308d\u3057\u304f\u304a\u9858\u3044\u3057\u307e\u3059\u3002<\/p>\n

\u8cea\u7591\u5fdc\u7b54<\/strong><\/span><\/p>\n

Stephen Kim — Evercore ISI — \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n

\u305d\u3046\u3067\u3059\u306d\u3002\u3069\u3046\u3082\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u30a8\u30ad\u30b5\u30a4\u30c6\u30a3\u30f3\u30b0\u306a\u6642\u9593\u3067\u3057\u305f\u3002\u96fb\u8a71\u4f1a\u8b70\u3067\u306f\u3001\u3055\u307e\u3056\u307e\u306a\u3054\u610f\u898b\u3092\u3044\u305f\u3060\u304d\u3001\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002<\/p>\n

\u30a4\u30f3\u30bb\u30f3\u30c6\u30a3\u30d6\u3068\u6728\u6750\u306b\u95a2\u3059\u308b\u30b3\u30e1\u30f3\u30c8\u304c\u3044\u304f\u3064\u304b\u3042\u308a\u307e\u3057\u305f\u304c\u30013Q\u306e\u58f2\u4e0a\u7dcf\u5229\u76ca\u306e\u4e88\u60f3\u7bc4\u56f2\u3082\u6559\u3048\u3066\u304f\u308c\u307e\u3057\u305f\u3002\u7b2c3\u56db\u534a\u671f\u306e\u58f2\u4e0a\u7dcf\u5229\u76ca\u7387\u304c\u304b\u306a\u308a\u9ad8\u304b\u3063\u305f\u306e\u3067\u3001\u6c17\u306b\u306a\u308a\u307e\u3057\u305f\u3002\u3053\u306e\u30ac\u30a4\u30c0\u30f3\u30b9\u306e\u4e2d\u3067\u3001\u30a4\u30f3\u30bb\u30f3\u30c6\u30a3\u30d6\u304c\u524d\u56db\u534a\u671f\u6bd4\u3067\u3069\u306e\u7a0b\u5ea6\u5897\u52a0\u3059\u308b\u3053\u3068\u3092\u60f3\u5b9a\u3057\u3066\u3044\u308b\u306e\u304b\u3001\u6c17\u306b\u306a\u308a\u307e\u3057\u305f\u30025\u6708\u306e\u6642\u70b9\u3067\u306f\u30a4\u30f3\u30bb\u30f3\u30c6\u30a3\u30d6\u304c1.6%\u3068\u3044\u3046\u3053\u3068\u3067\u3057\u305f\u306e\u3067\u3001\u305d\u308c\u3092\u53c2\u8003\u306b\u3055\u305b\u3066\u3044\u305f\u3060\u304d\u307e\u3057\u305f\u3002<\/p>\n

\u307e\u305f\u3001\u6728\u6750\u306e\u9006\u98a8\u306f\u3069\u306e\u7a0b\u5ea6\u306a\u306e\u3067\u3057\u3087\u3046\u304b\u3002Jon\u304c\u6728\u6750\u306e\u9006\u98a8\u304c\u3042\u308b\u3068\u8a00\u3063\u3066\u3044\u305f\u3068\u601d\u3046\u306e\u3067\u3059\u304c\u3002\u3069\u3061\u3089\u306e\u5834\u5408\u3082\u3001\u7b2c2\u56db\u534a\u671f\u306b\u7d4c\u9a13\u3057\u305f\u3053\u3068\u304b\u3089\u524d\u5012\u3057\u3067\u8a71\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n

Jon Jaffe — \u5171\u540c\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\u517c\u5171\u540c\u793e\u9577<\/p>\n

\u3084\u3042\u3001\u30b9\u30c6\u30a3\u30fc\u30d6\u30f3\u3002\u30b8\u30e7\u30f3\u3067\u3059\u3002\u30a4\u30f3\u30bb\u30f3\u30c6\u30a3\u30d6\u3068\u6bd4\u8f03\u3059\u308b\u3068\u3001\u307e\u3060\u6bd4\u8f03\u7684\u4f4e\u3044\u6c34\u6e96\u306b\u3042\u308a\u307e\u3059\u3002\u30ea\u30c3\u30af\u304c\u8a00\u3063\u305f\u3088\u3046\u306b\u3001\u79c1\u305f\u3061\u306f\u7d041.6%\u3068\u547c\u3093\u3067\u3044\u307e\u3059\u3002<\/p>\n

\u3053\u308c\u306f\u3001\u73fe\u5728\u306e\u5e02\u5834\u306b\u304a\u3044\u3066\u3001\u4e00\u90e8\u306e\u5e02\u5834\u304c\u8abf\u6574\u3092\u7d9a\u3051\u3066\u3044\u308b\u305f\u3081\u3001\u305d\u306e\u3088\u3046\u306a\u6570\u5b57\u306b\u306a\u3063\u3066\u3044\u307e\u3059\u3002\u3082\u3046\u5c11\u3057\u4e0a\u304c\u308b\u304b\u3082\u3057\u308c\u307e\u305b\u3093\u3002\u6728\u6750\u306b\u3064\u3044\u3066\u306f\u3001\u3059\u3067\u306b\u53d7\u6ce8\u6b8b\u304c\u3042\u308a\u3001\u7c97\u5229\u76ca\u7387\u306e\u76ee\u5b89\u306b\u3082\u306a\u3063\u3066\u3044\u307e\u3059\u304c\u3001\u5e74\u521d\u306b\u6bd4\u30791\u5e73\u65b9\u30d5\u30a3\u30fc\u30c8\u3042\u305f\u308a6\u30c9\u30eb\u306e\u4e0a\u6607\u3068\u306a\u308a\u307e\u3059\u3002\u3067\u3059\u304b\u3089\u3001\u3053\u306e\u6570\u5b57\u304c\u3069\u306e\u7a0b\u5ea6\u306e\u3082\u306e\u306a\u306e\u304b\u3001\u5341\u5206\u306a\u898b\u901a\u3057\u304c\u7acb\u3063\u3066\u3044\u308b\u306e\u3067\u3059\u3002<\/p>\n

Rick Beckwitt — \u5171\u540c\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\u517c\u5171\u540c\u793e\u9577<\/p>\n

\u305d\u3046\u3067\u3059\u306d\u3002\u30b9\u30c6\u30a3\u30fc\u30d6\u3001\u88dc\u8db3\u3055\u305b\u3066\u304f\u3060\u3055\u3044\u3002\u7b2c3\u56db\u534a\u671f\u306b\u6d41\u308c\u3066\u304f\u308b\u3082\u306e\u306f\u3001\u307b\u3068\u3093\u3069\u304c\u3059\u3067\u306b\u30d0\u30c3\u30af\u30ed\u30b0\u306b\u306a\u3063\u3066\u3044\u307e\u3059\u3002\u3064\u307e\u308a\u3001\u6750\u6728\u3060\u3051\u3067\u306a\u304f\u3001\u591a\u304f\u306e\u30a4\u30f3\u30bb\u30f3\u30c6\u30a3\u30d6\u3082\u53d7\u6ce8\u6b8b\u306b\u306a\u3063\u3066\u3044\u308b\u306e\u3067\u3059\u3002<\/p>\n

\u3053\u306e\u305f\u3081\u3001\u7b2c3\u56db\u534a\u671f\u4e2d\u306b\u4f55\u3089\u304b\u306e\u52d5\u304d\u304c\u3042\u308b\u3082\u306e\u3068\u601d\u308f\u308c\u307e\u3059\u3002\u307e\u305f\u3001\u5148\u307b\u3069\u3082\u7533\u3057\u4e0a\u3052\u305f\u3088\u3046\u306b\u3001\u74b0\u5883\u304c\u5909\u5316\u3057\u3066\u3044\u308b\u305f\u3081\u3001\u5b9f\u969b\u306e\u6570\u5b57\u304c\u3069\u3046\u306a\u308b\u304b\u306f\u308f\u304b\u308a\u307e\u305b\u3093\u3002\u307e\u305f\u3001\u74b0\u5883\u5909\u5316\u306b\u3068\u3082\u306a\u3044\u3001\u5b9f\u969b\u306b\u3069\u306e\u3088\u3046\u306a\u6570\u5024\u306b\u306a\u308b\u304b\u306f\u308f\u304b\u308a\u307e\u305b\u3093\u3002\u305f\u3060\u3001\u7b2c3\u56db\u534a\u671f\u306f\u3001\u30d0\u30c3\u30af\u30ed\u30b0\u306e\u591a\u304f\u304c\u7b2c3\u56db\u534a\u671f\u306b\u96c6\u4e2d\u3057\u3066\u3044\u308b\u3053\u3068\u304b\u3089\u3001\u304b\u306a\u308a\u898b\u901a\u3057\u304c\u3088\u3044\u3068\u3044\u3046\u3053\u3068\u306f\u899a\u3048\u3066\u304a\u3044\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n

Stephen Kim — Evercore ISI — \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n

\u3048\u3048\u3001\u305d\u306e\u901a\u308a\u3067\u3059\u3002\u591a\u304f\u306e\u5efa\u8a2d\u4f1a\u793e\u304c\u3001\u3064\u307e\u308a\u5fa1\u793e\u4ee5\u5916\u306e\u3059\u3079\u3066\u306e\u5efa\u8a2d\u4f1a\u793e\u304c\u3001\u9867\u5ba2\u304b\u3089\u9810\u304b\u308b\u624b\u4ed8\u91d1\u306e\u6bd4\u7387\u306f\u3069\u306e\u7a0b\u5ea6\u306a\u306e\u3067\u3057\u3087\u3046\u304b\u3002ASP\u306e\u4f55\u30d1\u30fc\u30bb\u30f3\u30c8\u306b\u76f8\u5f53\u3059\u308b\u306e\u304b\u3001\u6559\u3048\u3066\u304f\u3060\u3055\u3044\u3002\u3082\u30461\u3064\u306f\u3001\u4e00\u6238\u5efa\u3066\u8cc3\u8cb8\u4e8b\u696d\u306b\u95a2\u3059\u308b\u8cea\u554f\u3067\u3059\u3002\u30ea\u30c3\u30af\u3055\u3093\u304c\u3059\u3079\u3066\u306e\u5e02\u5834\u3092\u8abf\u67fb\u3055\u308c\u305f\u3068\u304d\u3001\u8cc3\u6599\u306b\u3064\u3044\u3066\u3042\u307e\u308a\u304a\u8a71\u306b\u306a\u308a\u307e\u305b\u3093\u3067\u3057\u305f\u304c\u3001\u3053\u308c\u306f\u660e\u3089\u304b\u306b\u65b9\u7a0b\u5f0f\u306e\u91cd\u8981\u306a\u90e8\u5206\u3067\u3059\u3002\u4e00\u6238\u5efa\u3066\u306e\u8cc3\u8cb8\u4f4f\u5b85\u3092\u8cfc\u5165\u3059\u308b\u610f\u6b32\u306f\u975e\u5e38\u306b\u5f37\u3044\u306e\u3067\u3059\u304c\u3001\u73fe\u5728\u306e\u74b0\u5883\u3067\u306f\u305d\u306e\u610f\u6b32\u304c\u5931\u308f\u308c\u3064\u3064\u3042\u308b\u306e\u3067\u306f\u306a\u3044\u304b\u3068\u8a00\u308f\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u305d\u3053\u3067\u3001\u904e\u53bb\u3068\u306f\u7570\u306a\u308a\u3001\u91d1\u5229\u306e\u4e0a\u6607\u306b\u3088\u3063\u3066\u30ec\u30f3\u30bf\u30eb\u4e8b\u696d\u304c\u6d3b\u6027\u5316\u3059\u308b\u53ef\u80fd\u6027\u306b\u3064\u3044\u3066\u304a\u805e\u304b\u305b\u3044\u305f\u3060\u3051\u306a\u3044\u3067\u3057\u3087\u3046\u304b\u3002<\/p>\n

\u30ea\u30c3\u30af\u30fb\u30d9\u30c3\u30af\u30a6\u30a3\u30c3\u30c8 — \u5171\u540c\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\u517c\u5171\u540c\u30d7\u30ec\u30b8\u30c7\u30f3\u30c8<\/p>\n

\u307e\u305a\u3001\u53d7\u6ce8\u6b8b\u3068\u9810\u304b\u308a\u91d1\u306b\u95a2\u3059\u308b\u8cea\u554f\u306b\u304a\u7b54\u3048\u3057\u307e\u3059\u3002\u5f53\u793e\u306e\u4f4f\u5b85\u30ed\u30fc\u30f3\u4f1a\u793e\u304c\u884c\u3063\u305f\u3053\u3068\u306e\u3072\u3068\u3064\u306b\u3001\u7b2c3\u56db\u534a\u671f\u3068\u7b2c4\u56db\u534a\u671f\u306e\u30d0\u30c3\u30af\u30ed\u30b0\u3092\u653b\u6483\u3057\u3001\u56fa\u5b9a\u5316\u3059\u308b\u3053\u3068\u304c\u3042\u308a\u307e\u3059\u3002\u4f4f\u5b85\u30ed\u30fc\u30f3\u4f1a\u793e\u304c\u884c\u3063\u305f\u3053\u3068\u306e1\u3064\u306f\u3001\u7b2c3\u56db\u534a\u671f\u3068\u7b2c4\u56db\u534a\u671f\u306e\u53d7\u6ce8\u6b8b\u3092\u96c6\u4e2d\u7684\u306b\u51e6\u7406\u3059\u308b\u3053\u3068\u3067\u3059\u3002<\/p>\n

\u30b9\u30c1\u30e5\u30a2\u30fc\u30c8\u30fb\u30df\u30e9\u30fc — \u57f7\u884c\u5f79\u54e1\u4f1a\u9577<\/p>\n

\u4f4f\u5b85\u30ed\u30fc\u30f3\u3060\u3051\u3067\u306a\u304f\u3001\u91d1\u5229\u306e\u56fa\u5b9a\u3001\u91d1\u5229\u306e\u56fa\u5b9a\u3002\u305d\u3057\u3066\u3001\u305d\u306e\u8cea\u554f\u306e\u5f8c\u308d\u306e\u90e8\u5206\u306f\u4f55\u3067\u3059\u304b\u3001\u30b9\u30c6\u30a3\u30fc\u30d6\uff1f<\/p>\n

Stephen Kim — Evercore ISI — \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n

\u65b0\u7bc9\u4f4f\u5b85\u306e\u30b7\u30f3\u30b0\u30eb\u30d5\u30a1\u30df\u30ea\u30fc\u30ec\u30f3\u30bf\u30eb\u3078\u306e\u610f\u6b32\u306b\u3064\u3044\u3066\u8a00\u53ca\u3057\u305f\u3082\u306e\u3067\u3059\u3002<\/p>\n

Stuart Miller — \u57f7\u884c\u5f79\u54e1\u4f1a\u9577<\/p>\n

\u4eca\u3001\u8cc3\u8cb8\u5e02\u5834\u5168\u4f53\u304c\u9762\u767d\u3044\u3068\u3044\u3046\u3053\u3068\u3092\u7533\u3057\u4e0a\u3052\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002\u4f4f\u5b85\u4e0d\u8db3\u306b\u3064\u3044\u3066\u306f\u3001\u3053\u306e\u6570\u56db\u534a\u671f\u3067\u4f55\u5ea6\u3082\u8a71\u3057\u3066\u304d\u307e\u3057\u305f\u3002\u91d1\u5229\u304c\u4e0a\u6607\u3057\u3066\u3082\u3001\u4eba\u3005\u306f\u4f4f\u3080\u5834\u6240\u3092\u5fc5\u8981\u3068\u3057\u3001\u4e16\u5e2f\u5f62\u6210\u306f\u5805\u8abf\u306b\u63a8\u79fb\u3057\u3066\u3044\u308b\u3068\u3044\u3046\u306e\u304c\u5b9f\u60c5\u3067\u3059\u3002\u3053\u306e\u3088\u3046\u306a\u30c0\u30a4\u30ca\u30df\u30af\u30b9\u3092\u6570\u591a\u304f\u53d6\u308a\u4e0a\u3052\u3066\u3044\u308b\u306e\u306f\u627f\u77e5\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u7d50\u5c40\u306e\u3068\u3053\u308d\u3001\u6301\u3061\u5bb6\u304b\u3089\u8cc3\u8cb8\u4f4f\u5b85\u3078\u3068\u79fb\u884c\u3059\u308b\u4eba\u304c\u5897\u3048\u308b\u3067\u3057\u3087\u3046\u3002\u3064\u307e\u308a\u3001\u591a\u4e16\u5e2f\u4f4f\u5b85\u3001\u4f1d\u7d71\u7684\u306a\u591a\u4e16\u5e2f\u4f4f\u5b85\u3001\u305d\u3057\u3066\u4e00\u4e16\u5e2f\u306e\u8cc3\u8cb8\u4f4f\u5b85\u3067\u3059\u3002\u6301\u3061\u5bb6\u304b\u3089\u8cc3\u8cb8\u4f4f\u5b85\u306b\u5411\u304b\u3046\u4eba\u304c\u5897\u3048\u308c\u3070\u5897\u3048\u308b\u307b\u3069\u3001\u3059\u3067\u306b\u4f9b\u7d66\u304c\u5236\u9650\u3055\u308c\u3066\u3044\u308b\u5e02\u5834\u306e\u9700\u8981\u3082\u5897\u52a0\u3057\u307e\u3059\u3002\u305d\u308c\u304c\u8cc3\u8cb8\u4f4f\u5b85\u5e02\u5834\u3067\u3059\u3002<\/p>\n

\u3053\u306e1\u5e74\u9593\u306e\u8cc3\u8cb8\u6599\u3068\u305d\u306e\u63a8\u79fb\u3092\u898b\u308b\u3068\u3001\u4f1d\u7d71\u7684\u306a\u8cc3\u8cb8\u4f4f\u5b85\u3068\u4e00\u6238\u5efa\u3066\u8cc3\u8cb8\u4f4f\u5b85\u306e\u4e21\u65b9\u3067\u3001\u8cc3\u8cb8\u6599\u304c\u304b\u306a\u308a\u7a4d\u6975\u7684\u306b\u4e0a\u6607\u3057\u3066\u3044\u308b\u3053\u3068\u304c\u308f\u304b\u308a\u307e\u3059\u3002\u3053\u308c\u306f\u3001\u4f9b\u7d66\u304c\u9650\u3089\u308c\u3066\u3044\u308b\u3053\u3068\u3068\u3001\u9700\u8981\u304c\u4f38\u3073\u3066\u3044\u308b\u3053\u3068\u304c\u8981\u56e0\u3067\u3059\u3002\u65b0\u3057\u3044\u91d1\u5229\u74b0\u5883\u3001\u52d5\u304d\u59cb\u3081\u305f\u8cc3\u8cb8\u6599\u306b\u5e02\u5834\u304c\u9069\u5fdc\u3057\u3066\u3044\u304f\u4e2d\u3067\u3001\u4eca\u5f8c\u6570\u56db\u534a\u671f\u306b\u6e21\u3063\u3066\u6df7\u4e71\u3084\u7591\u554f\u7b26\u304c\u751f\u3058\u308b\u3068\u601d\u308f\u308c\u307e\u3059\u304c\u3001\u3053\u308c\u304c\u3069\u306e\u3088\u3046\u306b\u5c55\u958b\u3055\u308c\u308b\u306e\u3067\u3057\u3087\u3046\u304b\u3002SFR\u306e\u8cb7\u3044\u624b\u3082\u3001\u81ea\u5206\u305f\u3061\u306e\u30e2\u30c7\u30eb\u304c\u3069\u306e\u3088\u3046\u306a\u3082\u306e\u304b\u3092\u8003\u3048\u76f4\u3055\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3067\u3057\u3087\u3046\u3002<\/p>\n

SFR\u306e\u8cb7\u3044\u624b\u3082\u30e2\u30c7\u30eb\u306e\u3042\u308a\u65b9\u3092\u898b\u76f4\u3055\u306a\u3051\u308c\u3070\u306a\u308a\u307e\u305b\u3093\u3002\u305d\u306e\u7d50\u679c\u3069\u3046\u306a\u308b\u304b\u3092\u898b\u306a\u3051\u308c\u3070\u306a\u308a\u307e\u305b\u3093\u3002<\/p>\n

Rick Beckwitt — \u5171\u540c\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\u517c\u5171\u540c\u793e\u9577<\/p>\n

\u30b3\u30e1\u30f3\u30c8\u3067\u7533\u3057\u4e0a\u3052\u305f\u3088\u3046\u306b\u3001Jon\u3068Stuart\u3068\u79c1\u306f\u3001\u4fa1\u683c\u8a2d\u5b9a\u3092\u7dad\u6301\u3059\u308b\u305f\u3081\u306b\u65e5\u3005\u8abf\u6574\u3092\u884c\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n

Stephen Kim — Evercore ISI — \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n

\u7d20\u6674\u3089\u3057\u3044\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002<\/p>\n

Stuart Miller — \u57f7\u884c\u59d4\u54e1\u9577<\/p>\n

\u6b21\u306e\u8cea\u554f\u3067\u3059\u3002<\/p>\n

\u30aa\u30da\u30ec\u30fc\u30bf\u30fc<\/p>\n

\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u6b21\u306e\u8cea\u554f\u306f\u3001Raymond James\u306eBuck Horne\u304b\u3089\u3067\u3059\u3002\u3069\u3046\u305e\u3088\u308d\u3057\u304f\u304a\u9858\u3044\u3057\u307e\u3059\u3002<\/p>\n

\u30d0\u30c3\u30af\u30fb\u30db\u30fc\u30f3 — \u30ec\u30a4\u30e2\u30f3\u30c9\u30fb\u30b8\u30a7\u30fc\u30e0\u30ba — \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n

\u304a\u306f\u3088\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u304a\u6642\u9593\u3092\u3044\u305f\u3060\u304d\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u7b2c2\u56db\u534a\u671f\u3092\u901a\u3057\u3066\u7dad\u6301\u3055\u308c\u305f\u7740\u5de5\u306e\u30da\u30fc\u30b9\u306b\u3064\u3044\u3066\u5c11\u3057\u304a\u8a71\u3057\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n

\u4f4f\u5b85\u30ed\u30fc\u30f3\u91d1\u5229\u304c\u56db\u534a\u671f\u3092\u901a\u3058\u3066\u4e00\u8cab\u3057\u3066\u4e0a\u6607\u3057\u3066\u3044\u305f\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u7740\u5de5\u30da\u30fc\u30b9\u304c\u5438\u53ce\u30da\u30fc\u30b9\u3092\u306f\u308b\u304b\u306b\u4e0a\u56de\u3063\u3066\u3044\u305f\u306e\u306f\u8208\u5473\u6df1\u3044\u3053\u3068\u3067\u3059\u3002\u3053\u308c\u306f\u30c8\u30e9\u30d5\u30a3\u30c3\u30af\u306e\u8cea\u306b\u3088\u308b\u3082\u306e\u306a\u306e\u3067\u3057\u3087\u3046\u304b\u3001\u305d\u308c\u3068\u3082\u8cfc\u5165\u8005\u306e\u8cfc\u5165\u80fd\u529b\u306e\u9ad8\u3055\u306b\u3088\u308b\u3082\u306e\u306a\u306e\u3067\u3057\u3087\u3046\u304b\uff1f\u307e\u305f\u3001\u7740\u5de5\u30da\u30fc\u30b9\u3092\u3053\u306e\u3088\u3046\u306a\u9ad8\u3044\u6c34\u6e96\u3067\u7dad\u6301\u3059\u308b\u305f\u3081\u306b\u3001\u4f55\u304b\u5927\u304d\u306a\u8003\u3048\u65b9\u304c\u3042\u3063\u305f\u306e\u3067\u3057\u3087\u3046\u304b\uff1f<\/p>\n

\u30b9\u30c1\u30e5\u30a2\u30fc\u30c8\u30fb\u30df\u30e9\u30fc — \u4ee3\u8868\u53d6\u7de0\u5f79\u4f1a\u9577<\/p>\n

\u4ee5\u524d\u306b\u3082\u7533\u3057\u4e0a\u3052\u307e\u3057\u305f\u304c\u3001\u5f53\u793e\u306e\u7740\u5de5\u30da\u30fc\u30b9\u306f\u3001\u4e3b\u3068\u3057\u3066\u3001\u5b9a\u671f\u7684\u306b\u4f4f\u5b85\u3092\u5efa\u8a2d\u30fb\u4f9b\u7d66\u3059\u308b\u79e9\u5e8f\u3042\u308b\u30d7\u30ed\u30b0\u30e9\u30e0\u306b\u3088\u308b\u3082\u306e\u3067\u3059\u3002\u5f53\u793e\u306e\u7740\u5de5\u30da\u30fc\u30b9\u306f\u3001\u4f4f\u5b85\u5efa\u8a2d\u306b\u5fc5\u8981\u306a\u8cc7\u683c\u3084\u8a31\u53ef\u3092\u5b9f\u969b\u306b\u53d6\u5f97\u3059\u308b\u305f\u3081\u306e\u4eba\u6750\u3084\u8a31\u53ef\u306e\u6709\u7121\u306b\u3088\u3063\u3066\u3001\u3088\u308a\u5236\u7d04\u3055\u308c\u308b\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002\u305d\u306e\u305f\u3081\u3001\u7b2c3\u56db\u534a\u671f\u306b\u5411\u3051\u3066\u7740\u5de5\u4ef6\u6570\u306b\u3070\u3089\u3064\u304d\u304c\u51fa\u3066\u304f\u308b\u3068\u601d\u3044\u307e\u3059\u304c\u3001\u8a31\u53ef\u8a3c\u306e\u53d6\u5f97\u304c\u56f0\u96e3\u306a\u305f\u3081\u3001\u5b9f\u969b\u306b\u306f\u82e5\u5e72\u306e\u5f8c\u9000\u304c\u898b\u3089\u308c\u308b\u3068\u601d\u3044\u307e\u3059\u3002\u79c1\u306f\u4ee5\u524d\u306b\u3082\u7533\u3057\u4e0a\u3052\u307e\u3057\u305f\u304c\u3001\u518d\u5ea6\u7533\u3057\u4e0a\u3052\u308b\u3068\u3001\u904e\u53bb\u6570\u5e74\u9593\u3001\u5168\u7c73\u306e\u4f4f\u5b85\u4f9b\u7d66\u306f\u9650\u3089\u308c\u3066\u3044\u308b\u3068\u898b\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u91d1\u5229\u3068\u8ca9\u58f2\u4fa1\u683c\u306e\u8abf\u6574\u3001\u3042\u308b\u3044\u306f\u30ea\u30d0\u30e9\u30f3\u30b9\u304c\u884c\u308f\u308c\u3066\u3044\u308b\u9593\u3001\u9700\u8981\u304c\u4e0a\u4e0b\u3057\u3066\u3082\u3001\u79e9\u5e8f\u3042\u308b\u30b9\u30bf\u30fc\u30c8\u30d7\u30ed\u30b0\u30e9\u30e0\u3092\u7d9a\u3051\u3001\u307b\u3068\u3093\u3069\u306e\u4e3b\u8981\u5e02\u5834\u306b\u5b58\u5728\u3059\u308b\u52b4\u50cd\u529b\u306e\u52b9\u7387\u6027\u3092\u88dc\u3046\u305f\u3081\u306b\u3001\u9069\u5207\u306a\u91cf\u306e\u4f9b\u7d66\u3092\u53d7\u3051\u308b\u3088\u3046\u4fa1\u683c\u3092\u8abf\u6574\u3059\u308b\u3064\u3082\u308a\u3067\u3059\u3002<\/p>\n

\u30b8\u30e7\u30f3\u30fb\u30b8\u30e3\u30c3\u30d5\u30a7 — \u5171\u540c\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\u517c\u5171\u540c\u793e\u9577<\/p>\n

\u3053\u306e1\u5e74\u9593\u3001\u79c1\u305f\u3061\u306f\u3001Stuart\u304c\u8ff0\u3079\u305f\u3088\u3046\u306a\u79e9\u5e8f\u3042\u308b\u898f\u5f8b\u3092\u7dad\u6301\u3059\u308b\u305f\u3081\u306b\u3001\u58f2\u4e0a\u9ad8\u3068\u751f\u7523\u958b\u59cb\u30da\u30fc\u30b9\u3092\u4e00\u81f4\u3055\u305b\u308b\u3053\u3068\u3001\u3042\u308b\u3044\u306f\u305d\u306e\u9006\u3092\u884c\u3046\u3053\u3068\u3092\u8ff0\u3079\u3066\u304d\u307e\u3057\u305f\u3002\u305d\u3046\u3059\u308b\u3053\u3068\u3067\u3001\u30b3\u30b9\u30c8\u6295\u5165\u3092\u3088\u308a\u3088\u304f\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u3001\u6a5f\u68b0\u306e\u52b9\u7387\u3082\u4fdd\u3066\u308b\u3068\u8003\u3048\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u30ea\u30c3\u30af\u30fb\u30d9\u30c3\u30af\u30a6\u30a3\u30c3\u30c8 — \u5171\u540c\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\u517c\u5171\u540c\u793e\u9577<\/p>\n

\u3082\u3046\u3072\u3068\u3064\u3001\u3053\u306e\u6570\u5b57\u306e\u80cc\u666f\u306b\u306f\u3001\u904e\u53bb\u6570\u56db\u534a\u671f\u306b\u884c\u3063\u305f\u3088\u3046\u306b\u3001\u5efa\u8a2d\u30b5\u30a4\u30af\u30eb\u306e\u5f8c\u534a\u306b\u4f4f\u5b85\u3092\u8ca9\u58f2\u3059\u308b\u3068\u3044\u3046\u6226\u7565\u7684\u306a\u53d6\u308a\u7d44\u307f\u304c\u3042\u308a\u3001\u3053\u308c\u306f\u3053\u306e\u5e02\u5834\u306b\u304a\u3044\u3066\u975e\u5e38\u306b\u52b9\u679c\u7684\u3067\u3059\u3002\u305d\u306e\u7d50\u679c\u3001\u30d7\u30ec\u30bb\u30fc\u30eb\u3084\u65e9\u671f\u8ca9\u58f2\u3092\u5236\u9650\u3057\u3001\u8ca9\u58f2\u30b9\u30da\u30fc\u30b9\u3088\u308a\u3082\u7740\u5de5\u30da\u30fc\u30b9\u3092\u5c11\u3057\u9ad8\u304f\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n

Buck Horne — Raymond James — \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n

\u4e86\u89e3\u3057\u307e\u3057\u305f\u3002\u3068\u3066\u3082\u53c2\u8003\u306b\u306a\u308a\u307e\u3057\u305f\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002\u307e\u305f\u3001\u4fa1\u683c\u8abf\u6574\u30d7\u30ed\u30bb\u30b9\u306e\u4ed5\u7d44\u307f\u306b\u3064\u3044\u3066\u5c11\u3057\u88dc\u8db3\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n

\u6295\u8cc7\u5bb6\u3068\u8a71\u3057\u3066\u3044\u308b\u3068\u3001\u4fa1\u683c\u4e0b\u843d\u306b\u4f34\u3046\u571f\u5730\u306e\u6e1b\u640d\u30ea\u30b9\u30af\u306b\u3064\u3044\u3066\u3001\u307e\u3060\u591a\u304f\u306e\u61f8\u5ff5\u304c\u3042\u308b\u3088\u3046\u3067\u3059\u3002\u3057\u304b\u3057\u3001\u3053\u306e\u3088\u3046\u306a\u72b6\u6cc1\u4e0b\u3067\u3082\u3001\u3059\u3079\u3066\u306e\u4fa1\u683c\u8a2d\u5b9a\u304c\u524d\u5e74\u6bd4\u3067\u4e0a\u6607\u3057\u3066\u3044\u308b\u3088\u3046\u3067\u3059\u3002\u4fa1\u683c\u8abf\u6574\u306b\u3088\u3063\u3066\u3001\u53d7\u6ce8\u6b8b\u306e\u9867\u5ba2\u304c\u3059\u3067\u306b\u652f\u6255\u3063\u3066\u3044\u308b\u4fa1\u683c\u3088\u308a\u3082\u57fa\u672c\u4fa1\u683c\u304c\u4e0b\u304c\u308b\u3088\u3046\u306a\u3053\u3068\u306f\u306a\u3044\u306e\u3067\u3057\u3087\u3046\u304b\uff1f<\/p>\n

\u30b9\u30c1\u30e5\u30a2\u30fc\u30c8\u30fb\u30df\u30e9\u30fc — \u4ee3\u8868\u53d6\u7de0\u5f79\u4f1a\u9577<\/p>\n

\u5f53\u793e\u306e\u53d7\u6ce8\u6b8b\u306b\u306f\u3001\u5b9f\u8cea\u7684\u306b\u571f\u5730\u306e\u6e1b\u640d\u30ea\u30b9\u30af\u306f\u306a\u3044\u3068\u8a8d\u8b58\u3057\u3066\u304a\u304f\u3053\u3068\u304c\u91cd\u8981\u3060\u3068\u601d\u3044\u307e\u3059\u3002\u5f53\u793e\u306e\u30de\u30fc\u30b8\u30f3\u306f\u5065\u5168\u306a\u307e\u307e\u3067\u3059\u3002\u79c1\u305f\u3061\u306f\u3001\u4fa1\u683c\u304c\u591a\u5c11\u5909\u52d5\u3059\u308b\u3053\u3068\u3092\u8a8d\u8b58\u3057\u3001\u304a\u5ba2\u69d8\u306e\u305f\u3081\u306b\u4fa1\u5024\u3092\u5275\u9020\u3059\u308b\u65b9\u6cd5\u3067\u52b9\u7387\u6027\u3092\u9ad8\u3081\u308b\u3053\u3068\u306b\u5f15\u304d\u7d9a\u304d\u6ce8\u529b\u3057\u3066\u3044\u304d\u307e\u3059\u3002\u3057\u304b\u3057\u3001\u5f53\u793e\u306e\u571f\u5730\u53d6\u5f97\u30e2\u30c7\u30eb\u3084\u571f\u5730\u53d6\u5f97\u30d7\u30ed\u30b0\u30e9\u30e0\u306f\u5805\u5b9f\u306a\u3082\u306e\u3067\u3059\u3002<\/p>\n

\u3057\u304b\u3057\u3001\u5f53\u793e\u306e\u571f\u5730\u53d6\u5f97\u30e2\u30c7\u30eb\u3084\u571f\u5730\u53d6\u5f97\u8a08\u753b\u306f\u5805\u5b9f\u306a\u3082\u306e\u3067\u3059\u3002\u5f53\u793e\u304c\u518d\u3073\u6e1b\u640d\u306e\u8a71\u3092\u59cb\u3081\u308b\u306b\u306f\u3001\u5e02\u5834\u304c\u5927\u304d\u304f\u4e0b\u843d\u3059\u308b\u5fc5\u8981\u304c\u3042\u308b\u3068\u601d\u3044\u307e\u3059\u3002\u3053\u308c\u306f\u524d\u56de\u306e\u91d1\u878d\u5371\u6a5f\u306b\u623b\u3063\u305f\u3088\u3046\u306a\u3082\u306e\u3067\u3059\u3002\u79c1\u305f\u3061\u306f\u3001\u6e1b\u640d\u306b\u3064\u3044\u3066\u8003\u3048\u59cb\u3081\u308b\u524d\u306b\u3001\u30de\u30fc\u30b8\u30f3\u306b\u306f\u591a\u304f\u306e\u4f59\u5730\u304c\u3042\u308a\u3001\u30d7\u30ed\u30b0\u30e9\u30e0\u306b\u306f\u591a\u304f\u306e\u9069\u5fdc\u6027\u304c\u3042\u308b\u306e\u3067\u3059\u3002<\/p>\n

Jon Jaffe — \u5171\u540c\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\u517c\u5171\u540c\u30d7\u30ec\u30b8\u30c7\u30f3\u30c8<\/p>\n

\u307e\u305f\u3001\u524d\u30b5\u30a4\u30af\u30eb\u3068\u306f\u307e\u3063\u305f\u304f\u7570\u306a\u308a\u3001\u79c1\u306e\u30b3\u30e1\u30f3\u30c8\u3067\u3082\u8ff0\u3079\u305f\u3088\u3046\u306b\u3001\u5f53\u793e\u306e\u571f\u5730\u6226\u7565\u306e\u7126\u70b9\u306f\u3001\u571f\u5730\u3092\u7ba1\u7406\u3055\u308c\u305f\u4f4d\u7f6e\u306b\u7f6e\u304d\u3001\u5909\u5316\u3059\u308b\u5e02\u5834\u74b0\u5883\u306b\u9069\u5fdc\u3067\u304d\u308b\u69cb\u9020\u3092\u6301\u3064\u3053\u3068\u3067\u3057\u305f\u306e\u3067\u3001\u6e1b\u640d\u306e\u53ef\u80fd\u6027\u304b\u3089\u3055\u3089\u306b\u8eab\u3092\u5b88\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3057\u305f\u3002<\/p>\n

\u30b9\u30c1\u30e5\u30a2\u30fc\u30c8\u30fb\u30df\u30e9\u30fc — \u4ee3\u8868\u53d6\u7de0\u5f79\u4f1a\u9577<\/p>\n

\u3082\u3046\u3072\u3068\u3064\u3001\u53d7\u6ce8\u6b8b\u306b\u95a2\u3057\u3066\u8a00\u3048\u3070\u3001\u591a\u304f\u306e\u5e02\u5834\u3067\u8ab0\u304b\u304c\u30ad\u30e3\u30f3\u30bb\u30eb\u3057\u305f\u5834\u5408\u3001\u3059\u3050\u306b\u6c7a\u6e08\u3067\u304d\u308b\u5728\u5eab\u304c\u9650\u3089\u308c\u3066\u3044\u308b\u305f\u3081\u3001\u4ee3\u308f\u308a\u306e\u8cb7\u3044\u624b\u304c\u3044\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002<\/p>\n

Buck Horne — Raymond James — \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n

\u3068\u3066\u3082\u53c2\u8003\u306b\u306a\u308a\u307e\u3057\u305f\u3002\u5b8c\u74a7\u306a\u56de\u7b54\u3067\u3059\u3002\u3055\u3089\u306b\u8a73\u3057\u3044\u60c5\u5831\u3092\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002<\/p>\n

Stuart Miller — \u57f7\u884c\u59d4\u54e1\u9577<\/p>\n

\u305d\u306e\u901a\u308a\u3067\u3059\u3002<\/p>\n

\u30aa\u30da\u30ec\u30fc\u30bf\u30fc<\/p>\n

\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002\u6b21\u306e\u8cea\u554f\u306f\u3001Wolfe Research\u306eTruman Patterson\u304b\u3089\u3067\u3059\u3002\u3069\u3046\u305e\u3088\u308d\u3057\u304f\u304a\u9858\u3044\u3057\u307e\u3059\u3002<\/p>\n

\u30c8\u30eb\u30fc\u30de\u30f3\u30fb\u30d1\u30bf\u30fc\u30bd\u30f3 — \u30a6\u30eb\u30d5\u30fb\u30ea\u30b5\u30fc\u30c1 — \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n

\u7686\u3055\u3093\u3001\u304a\u306f\u3088\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u79c1\u306e\u8cea\u554f\u306b\u7b54\u3048\u3066\u304f\u308c\u3066\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002<\/p>\n

\u30b9\u30c1\u30e5\u30a2\u30fc\u30c8\u30fb\u30df\u30e9\u30fc — \u57f7\u884c\u59d4\u54e1\u9577<\/p>\n

\u304a\u306f\u3088\u3046\u3054\u3056\u3044\u307e\u3059\u3002<\/p>\n

Truman Patterson — Wolfe Research — \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n

\u30d5\u30a9\u30ed\u30fc\u30a2\u30c3\u30d7\u3092\u304a\u9858\u3044\u3057\u307e\u3059\u30025\u6708\u306e\u30a4\u30f3\u30bb\u30f3\u30c6\u30a3\u30d6\u306f\u3001\u78ba\u304b1.6%\u3067\u3057\u305f\u306d\u3002\u3053\u306e\u6307\u6a19\u3092\u9054\u6210\u3059\u308b\u305f\u3081\u306b\u3001\u6b21\u306e\u56db\u534a\u671f\u306b\u3069\u306e\u3088\u3046\u306a\u30a4\u30f3\u30bb\u30f3\u30c6\u30a3\u30d6\u3084\u4fa1\u683c\u8abf\u6574\u304c\u5fc5\u8981\u3060\u3068\u304a\u8003\u3048\u3067\u3057\u3087\u3046\u304b\u3002\u307e\u305f\u30013\u3064\u306e\u30d0\u30b1\u30c3\u30c8\u306b\u5206\u3051\u3066\u8003\u3048\u308b\u5834\u5408\u3001\u69cb\u9020\u7684\u306a\u8981\u56e0\u3084\u3001\u5f71\u97ff\u306a\u3057\u306e\u30d0\u30b1\u30c3\u30c8\u304c2\u756a\u76ee\u30843\u756a\u76ee\u306e\u30d0\u30b1\u30c3\u30c8\u306b\u8fd1\u3065\u304b\u306a\u3044\u3088\u3046\u306a\u7406\u7531\u306f\u3042\u308a\u307e\u3059\u304b\uff1f<\/p>\n

\u30b8\u30e7\u30f3\u30fb\u30b8\u30e3\u30c3\u30d5\u30a7 — \u5171\u540c\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\u517c\u5171\u540c\u793e\u9577<\/p>\n

\u3082\u3061\u308d\u3093\u3067\u3059\u3001\u30c8\u30eb\u30fc\u30de\u30f3\u3002\u30ea\u30c3\u30af\u304c\u8a71\u3057\u3066\u3044\u305f\u3001\u79c1\u305f\u3061\u304c\u6bce\u65e5\u6ce8\u76ee\u3057\u3066\u3044\u308b\u5206\u6790\u306f\u3001\u30b3\u30df\u30e5\u30cb\u30c6\u30a3\u3054\u3068\u306e\u5206\u6790\u3067\u3059\u3002\u3067\u3059\u304b\u3089\u3001\u305d\u308c\u306f — \u307e\u305a\u3001\u5730\u57df\u3054\u3068\u306b\u975e\u5e38\u306b\u7570\u306a\u308b\u3068\u3044\u3046\u3053\u3068\u3092\u7406\u89e3\u3059\u308b\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002\u3067\u3059\u304b\u3089\u3001\u5e02\u5834\u3068\u3044\u3063\u3066\u3082\u3001\u305d\u308c\u306f\u5927\u307e\u304b\u306a\u6982\u8981\u3067\u3059\u3002<\/p>\n

\u305d\u306e\u4e2d\u3067\u3082\u3001\u975e\u5e38\u306b\u597d\u8abf\u306a\u5730\u57df\u3082\u3042\u308c\u3070\u3001\u5148\u307b\u3069\u8aac\u660e\u3057\u305f\u30a4\u30f3\u30bb\u30f3\u30c6\u30a3\u30d6\u3084\u4f4f\u5b85\u30ed\u30fc\u30f3\u91d1\u5229\u306e\u8cb7\u3044\u53d6\u308a\u306a\u3069\u306e\u652f\u63f4\u304c\u5fc5\u8981\u306a\u5730\u57df\u3082\u3042\u308b\u3067\u3057\u3087\u3046\u3002\u3069\u306e\u3088\u3046\u306a\u30a4\u30f3\u30bb\u30f3\u30c6\u30a3\u30d6\u304c\u5fc5\u8981\u304b\u306f\u3001\u4fa1\u683c\u3068\u91d1\u5229\u306e\u30d0\u30e9\u30f3\u30b9\u306b\u3088\u3063\u3066\u5909\u308f\u3063\u3066\u304f\u308b\u306e\u3067\u3001\u5148\u304c\u8aad\u3081\u306a\u3044\u3068\u3044\u3046\u306e\u304c\u73fe\u72b6\u3067\u3059\u3002<\/p>\n

\u30ea\u30c3\u30af\u30fb\u30d9\u30c3\u30af\u30a6\u30a3\u30c3\u30c8 — \u5171\u540c\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\u517c\u5171\u540c\u793e\u9577<\/p>\n

\u5192\u982d\u3067\u7533\u3057\u4e0a\u3052\u305f\u3088\u3046\u306b\u3001\u5f53\u793e\u306e\u30a4\u30f3\u30bb\u30f3\u30c6\u30a3\u30d6\u306f\u6b74\u53f2\u7684\u306b1.6\uff05\u306e\u6c34\u6e96\u3088\u308a\u3082\u306f\u308b\u304b\u306b\u9ad8\u3044\u6c34\u6e96\u3067\u63a8\u79fb\u3057\u3066\u3044\u307e\u3059\u3002\u4eca\u5f8c\u3001\u30a4\u30f3\u30bb\u30f3\u30c6\u30a3\u30d6\u306b\u95a2\u3057\u3066\u306f\u3001\u304a\u305d\u3089\u304f\u3055\u3089\u306b0.1\uff05\u7a0b\u5ea6\u306f\u7e54\u308a\u8fbc\u307f\u6e08\u307f\u3067\u3059\u3002\u30b8\u30e7\u30f3\u304c\u8a00\u3063\u305f\u3088\u3046\u306b\u3001\u3042\u308b\u5e02\u5834\u3067\u306f0\uff05\u306b\u306a\u308b\u304b\u3082\u3057\u308c\u307e\u305b\u3093\u3057\u3001\u4ed6\u306e\u5e02\u5834\u3067\u306f\u3082\u3046\u5c11\u3057\u9ad8\u304f\u306a\u308b\u304b\u3082\u3057\u308c\u307e\u305b\u3093\u3002<\/p>\n

\u30b9\u30c1\u30e5\u30a2\u30fc\u30c8\u30fb\u30df\u30e9\u30fc — \u57f7\u884c\u5f79\u54e1\u4f1a\u9577<\/p>\n

\u305d\u3046\u3067\u3059\u306d\u3002\u3057\u304b\u3057\u30011\uff05\u3068\u3044\u3046\u6570\u5b57\u3092\u5883\u754c\u7dda\u306b\u3057\u305f\u308a\u3001\u5236\u9650\u306b\u3057\u305f\u308a\u3057\u3066\u306f\u3044\u3051\u306a\u3044\u3068\u3055\u3048\u601d\u3044\u307e\u3059\u3002\u4eca\u3001\u5e02\u5834\u3054\u3068\u306b\u30ea\u30a2\u30eb\u30bf\u30a4\u30e0\u3067\u3053\u306e\u6570\u5b57\u3092\u898b\u3066\u3044\u308b\u30b0\u30eb\u30fc\u30d7\u304b\u3089\u8a71\u3092\u805e\u3044\u3066\u3044\u308b\u3068\u601d\u3044\u307e\u3059\u304c\u3001\u3055\u307e\u3056\u307e\u306a\u5e02\u5834\u3067\u5909\u5316\u3057\u3001\u9032\u5316\u3057\u3066\u3044\u308b\u306e\u304c\u4e8b\u5b9f\u3067\u3059\u3002\u30ea\u30c3\u30af\u304c\u9069\u5207\u306b\u8aac\u660e\u3057\u305f\u3088\u3046\u306b\u3001Tier 1\u304b\u3089Tier 2\u3001Tier 3\u3078\u306e\u8ee2\u63db\u70b9\u306f\u3001\u30bf\u30a4\u30df\u30f3\u30b0\u306e\u554f\u984c\u3067\u3042\u308a\u3001\u305d\u306e\u5e02\u5834\u5185\u3067\u306e\u4f9b\u7d66\u306e\u554f\u984c\u306a\u306e\u3067\u3059\u3002<\/p>\n

\u305d\u3057\u3066\u3001\u305d\u306e\u5e02\u5834\u306b\u7d44\u307f\u8fbc\u307e\u308c\u305f\u4fe1\u983c\u6027\u306e\u30ec\u30d9\u30eb\u306f\u3001\u4e88\u6e2c\u3059\u308b\u306e\u304c\u975e\u5e38\u306b\u96e3\u3057\u304f\u3001\u5b9f\u969b\u306b\u76ee\u306b\u3059\u308b\u524d\u306b\u8b66\u544a\u30b5\u30a4\u30f3\u3092\u53d7\u3051\u53d6\u308b\u3053\u3068\u306f\u3067\u304d\u307e\u305b\u3093\u3002\u3067\u3059\u304b\u3089\u3001\u7686\u3055\u3093\u306f\u672c\u5f53\u306b\u3001\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u306e\u3088\u3046\u306a\u3001\u73fe\u5728\u306e\u72b6\u6cc1\u306e\u30b9\u30ca\u30c3\u30d7\u30b7\u30e7\u30c3\u30c8\u3092\u805e\u3044\u3066\u3001\u3042\u308b\u3044\u306f\u898b\u3066\u3044\u308b\u306e\u3067\u3059\u3002\u660e\u65e5\u306b\u306f\u3001\u305d\u308c\u304c\u5c11\u3057\u3065\u3064\u52d5\u3044\u3066\u3044\u304f\u304b\u3082\u3057\u308c\u307e\u305b\u3093\u3002<\/p>\n

Truman Patterson — Wolfe Research — \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n

\u3048\u3048\u3001\u305d\u3046\u3067\u3059\u306d\u3002\u308f\u304b\u3063\u3066\u3044\u307e\u3059\u3002\u7406\u89e3\u3057\u3066\u3044\u307e\u3059\u3002\u305d\u3057\u3066\u660e\u3089\u304b\u306b\u3001\u7686\u3055\u3093\u306f\u30ea\u30bf\u30fc\u30f3\u3092\u5f97\u308b\u305f\u3081\u306b\u9ad8\u3044\u5438\u53ce\u529b\u3092\u7dad\u6301\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u3057\u304b\u3057\u3001\u6b21\u306e\u8cea\u554f\u306f\u3001\u571f\u5730\u30d0\u30f3\u30af\u306e\u53e4\u3044\u30b7\u30d5\u30c8\u306b\u3064\u3044\u3066\u3067\u3059\u304c\u3001\u904e\u53bb\u6570\u5e74\u9593\u3001\u304b\u306a\u308a\u5287\u7684\u3067\u3057\u305f\u3002\u30aa\u30d7\u30b7\u30e7\u30f3\u3084\u7ba1\u7406\u533a\u753b\u306f\u3001\u4eca\u671f\u306f62%\u307e\u3067\u4e0a\u6607\u3057\u3066\u3044\u307e\u3059\u3002\u3053\u306e2\u30013\u30ab\u6708\u3067\u571f\u5730\u5e02\u5834\u306b\u4f55\u304b\u5909\u5316\u304c\u3042\u3063\u305f\u306e\u3067\u3057\u3087\u3046\u304b\u3002\u571f\u5730\u958b\u767a\u696d\u8005\u3084\u571f\u5730\u9280\u884c\u306e\u30d1\u30fc\u30c8\u30ca\u30fc\u306e\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u3078\u306e\u610f\u6b32\u3001\u6761\u4ef6\u306e\u5909\u66f4\u3001\u7af6\u4e89\u306a\u3069\u3001\u5e74\u672b\u307e\u3067\u306b\u3053\u306e65\uff05\u3068\u3044\u3046\u6307\u6a19\u306f\u3001\u30b5\u30a4\u30af\u30eb\u306e\u4e0a\u9650\u3068\u306a\u308b\u306e\u3067\u3057\u3087\u3046\u304b\u3002<\/p>\n

\u30b8\u30e7\u30f3\u30fb\u30b8\u30e3\u30c3\u30d5\u30a7 — \u5171\u540c\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\u517c\u5171\u540c\u793e\u9577<\/p>\n

\u79c1\u305f\u3061\u306b\u3068\u3063\u3066\u3001\u3053\u308c\u306f\u3059\u3079\u3066\u30ea\u30a2\u30eb\u30bf\u30a4\u30e0\u3067\u8d77\u304d\u3066\u3044\u308b\u3053\u3068\u3067\u3001\u540c\u3058\u8a55\u4fa1\u304c\u79c1\u305f\u3061\u306e\u95a2\u4fc2\u3067\u8d77\u304d\u3066\u3044\u308b\u306e\u3067\u3059\u3002\u3057\u304b\u3057\u3001\u4eca\u65e5\u307e\u3067\u3001\u9069\u5207\u306b\u5f15\u53d7\u3051\u305f\u8cc7\u7523\u306e\u53d6\u5f97\u3092\u9032\u3081\u3088\u3046\u3068\u3059\u308b\u610f\u6b32\u306f\u3042\u308a\u307e\u3057\u305f\u3002\u4eca\u3001\u3053\u306e\u5834\u306b\u3044\u308b\u79c1\u305f\u3061\u306f\u3001\u3053\u306e65%\u3068\u3044\u3046\u76ee\u6a19\u9054\u6210\u306b\u81ea\u4fe1\u3092\u6301\u3063\u3066\u3044\u307e\u3059\u3002\u3057\u304b\u3057\u3001\u4f55\u4e8b\u3082\u305d\u3046\u3067\u3059\u304c\u3001\u5e02\u5834\u304c\u3069\u306e\u3088\u3046\u306b\u5909\u5316\u3057\u3066\u3044\u304f\u304b\u3092\u898b\u3066\u3044\u304b\u306a\u3051\u308c\u3070\u306a\u308a\u307e\u305b\u3093\u3002<\/p>\n

\u30b9\u30c1\u30e5\u30a2\u30fc\u30c8\u30fb\u30df\u30e9\u30fc — \u4ee3\u8868\u53d6\u7de0\u5f79\u4f1a\u9577<\/p>\n

\u79c1\u305f\u3061\u306e\u571f\u5730\u30d7\u30ed\u30b0\u30e9\u30e0\u306b\u306f\u30012\u3064\u306e\u6226\u7565\u304c\u3042\u308a\u307e\u3059\u3002\u307e\u305a\u3001\u4e00\u90e8\u306e\u571f\u5730\u958b\u767a\u696d\u8005\u3068\u5b9f\u306b\u5305\u62ec\u7684\u306a\u95a2\u4fc2\u3092\u7d50\u3093\u3067\u3044\u307e\u3059\u3002\u79c1\u305f\u3061\u306f\u540c\u671f\u3057\u3066\u52d5\u3044\u3066\u304a\u308a\u3001\u5e02\u5834\u304c\u4e0a\u6607\u3059\u308b\u3068\u304d\u3082\u3042\u308c\u3070\u3001\u307f\u3093\u306a\u3067\u304a\u91d1\u3092\u7a3c\u3050\u3068\u304d\u3082\u3042\u308b\u3053\u3068\u3092\u8ab0\u3082\u304c\u7406\u89e3\u3057\u3066\u3044\u307e\u3059\u3002\u6642\u306b\u306f\u76f8\u5834\u304c\u4e0b\u304c\u308b\u3053\u3068\u3082\u3042\u308a\u3001\u79c1\u305f\u3061\u306f\u7686\u3001\u5e02\u5834\u306e\u72b6\u6cc1\u306b\u5408\u308f\u305b\u3066\u5909\u5316\u3057\u3001\u8abf\u6574\u3057\u307e\u3059\u3002<\/p>\n

\u571f\u5730\u958b\u767a\u306e\u4e16\u754c\u3067\u306f\u3001\u305d\u306e\u3088\u3046\u306a\u9055\u3044\u306f\u306a\u3044\u3068\u601d\u3044\u307e\u3059\u3002\u307e\u3055\u306b\u3001\u79c1\u305f\u3061\u304c\u7bc9\u3044\u3066\u304d\u305f\u571f\u5730\u958b\u767a\u306e\u4e16\u754c\u3068\u540c\u3058\u3067\u3059\u3002\u3055\u3089\u306b\u3001\u30b8\u30e7\u30f3\u304c\u9069\u5207\u306b\u6307\u6458\u3057\u305f\u3088\u3046\u306b\u3001\u5f53\u793e\u306e\u571f\u5730\u6226\u7565\u304c\u30af\u30a9\u30fc\u30bf\u30e9\u3001\u3064\u307e\u308a\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u4e8b\u696d\u306e\u4e00\u90e8\u3068\u306a\u3063\u3066\u3044\u308b\u3053\u3068\u306f\u3001\u5f53\u793e\u306b\u3068\u3063\u3066\u672c\u5f53\u306b\u91cd\u8981\u306a\u69cb\u9020\u5909\u5316\u3068\u8a00\u3048\u307e\u3059\u3002\u3053\u306e\u30d7\u30ed\u30b0\u30e9\u30e0\u306b\u306f\u5f3e\u529b\u6027\u304c\u3042\u308a\u3001\u5e02\u5834\u74b0\u5883\u306e\u6d6e\u304d\u6c88\u307f\u306b\u5408\u308f\u305b\u3066\u30b7\u30e7\u30c3\u30af\u30a2\u30d6\u30bd\u30fc\u30d0\u30fc\u3068\u3057\u3066\u6a5f\u80fd\u3059\u308b\u3088\u3046\u306b\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u3053\u308c\u306f\u3001\u4eca\u5f8c\u6570\u5e74\u9593\u3001\u5f53\u793e\u306e\u571f\u5730\u30d7\u30ed\u30b0\u30e9\u30e0\u306b\u5b89\u5b9a\u6027\u3092\u3082\u305f\u3089\u3059\u3001\u3088\u308a\u91cd\u8981\u306a\u69cb\u9020\u7684\u5909\u5316\u306e\u4e00\u3064\u3060\u3068\u601d\u3044\u307e\u3059\u3002\u3053\u306e\u3088\u3046\u306b\u3001\u79c1\u305f\u3061\u306f\u4f4f\u5b85\u5efa\u8a2d\u306e\u4e16\u754c\u306e\u52d5\u304d\u3092\u4e88\u6e2c\u3057\u3001\u3053\u306e\u3088\u3046\u306a\u6642\u4ee3\u306b\u3082\u67d4\u8edf\u306b\u5bfe\u5fdc\u3067\u304d\u308b\u571f\u5730\u6226\u7565\u3092\u69cb\u7bc9\u3059\u308b\u3053\u3068\u306b\u91cd\u70b9\u3092\u7f6e\u3044\u3066\u3044\u308b\u306e\u3067\u3059\u3002<\/p>\n

\u30c8\u30eb\u30fc\u30de\u30f3\u30fb\u30d1\u30bf\u30fc\u30bd\u30f3 — \u30a6\u30eb\u30d5\u30fb\u30ea\u30b5\u30fc\u30c1 — \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n

\u5b8c\u74a7\u3067\u3059\u3002\u304a\u6642\u9593\u3092\u3044\u305f\u3060\u304d\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002<\/p>\n

\u904b\u55b6\u8005<\/p>\n

\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002\u6b21\u306e\u8cea\u554f\u306f\u30bc\u30eb\u30de\u30f3\uff06\u30a2\u30bd\u30b7\u30a8\u30a4\u30c4\u306e\u30a2\u30e9\u30f3\u30fb\u30e9\u30c8\u30ca\u30fc\u304b\u3089\u3067\u3059\u3002\u3069\u3046\u305e\u3088\u308d\u3057\u304f\u304a\u9858\u3044\u3057\u307e\u3059\u3002<\/p>\n

\u30a2\u30e9\u30f3\u30fb\u30e9\u30c8\u30ca\u30fc — \u30bc\u30eb\u30de\u30f3\uff06\u30a2\u30bd\u30b7\u30a8\u30a4\u30c4 — \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n

\u3084\u3042\u3001\u307f\u3093\u306a\u3002\u304a\u306f\u3088\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u3044\u308d\u3044\u308d\u3068\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002<\/p>\n

\u6700\u521d\u306e\u8cea\u554f\u3067\u3059\u304c\u3001\u5e02\u5834\u304c\u4ed6\u306e\u5e02\u5834\u3088\u308a\u3082\u5927\u304d\u306a\u5f71\u97ff\u3092\u53ca\u307c\u3057\u3066\u3044\u308b\u3068\u3044\u3046\u70b9\u3067\u3001\u3053\u308c\u3089\u306e\u5e02\u5834\u3092\u30d0\u30b1\u30c4\u306b\u5206\u985e\u3059\u308b\u306e\u306f\u3068\u3066\u3082\u53c2\u8003\u306b\u306a\u308b\u3068\u601d\u3044\u307e\u3059\u30027\u3064\u306e\u30d0\u30b1\u30c4\u306e\u4e2d\u3067\u3001\u3088\u308a\u7a4d\u6975\u7684\u306b\u30a4\u30f3\u30bb\u30f3\u30c6\u30a3\u30d6\u3092\u4e0e\u3048\u3001\u4fa1\u683c\u3092\u5f15\u304d\u4e0b\u3052\u305f\u30d0\u30b1\u30c4\u306b\u3064\u3044\u3066\u304a\u805e\u304d\u3057\u305f\u3044\u306e\u3067\u3059\u304c\u30026\u6708\u306b\u767a\u6ce8\u3057\u305f\u88fd\u54c1\u306b\u3064\u3044\u3066\u3001\u7d0d\u5165\u91cf\u3084\u767a\u6ce8\u91cf\u304c\u5e74\u521d\u306b\u6bd4\u3079\u3069\u306e\u7a0b\u5ea6\u30de\u30fc\u30b8\u30f3\u306b\u5f71\u97ff\u3092\u53ca\u307c\u3057\u3066\u3044\u308b\u304b\u3001\u5b9a\u91cf\u7684\u306b\u6559\u3048\u3066\u304f\u3060\u3055\u3044\u3002\u79c1\u306f\u305f\u3060\u3001\u3042\u306a\u305f\u304c\u4f7f\u3063\u3066\u3044\u308b\u3059\u3079\u3066\u306e\u30c4\u30fc\u30eb\u306b\u3064\u3044\u3066\u8ff0\u3079\u3066\u3044\u307e\u3059\u304c\u3001\u73fe\u6642\u70b9\u3067\u306f\u3001\u3053\u308c\u3089\u306e\u3055\u307e\u3056\u307e\u306a\u30d0\u30b1\u30c3\u30c8\u306b\u304a\u3051\u308b\u30de\u30fc\u30b8\u30f3\u3078\u306e\u5f71\u97ff\u3092\u6b63\u78ba\u306b\u4f1d\u3048\u308b\u306e\u306f\u96e3\u3057\u3044\u306e\u3067\u306f\u306a\u3044\u3067\u3057\u3087\u3046\u304b\u3002<\/p>\n

Stuart Miller — \u57f7\u884c\u5f79\u54e1\u4f1a\u9577<\/p>\n

\u305d\u306e\u305f\u3081\u3001\u30ac\u30a4\u30c0\u30f3\u30b9\u306e\u4ee3\u308f\u308a\u306b\u5927\u307e\u304b\u306a\u5883\u754c\u7dda\u3092\u793a\u3057\u307e\u3057\u305f\u304c\u3001\u53ef\u52d5\u90e8\u54c1\u304c\u305f\u304f\u3055\u3093\u3042\u308b\u305f\u3081\u3001\u63a8\u6e2c\u306f\u3057\u305f\u304f\u3042\u308a\u307e\u305b\u3093\u3002\u6728\u6750\u306e\u4fa1\u683c\u3084\u4e0d\u52d5\u7523\u696d\u8005\u306e\u30b3\u30b9\u30c8\u306a\u3069\u3001\u79c1\u305f\u3061\u304c\u628a\u63e1\u3067\u304d\u308b\u3082\u306e\u306f\u305f\u304f\u3055\u3093\u3042\u308a\u307e\u3059\u3002\u307e\u305f\u3001\u55b6\u696d\u30ec\u30d0\u30ec\u30c3\u30b8\u3084ASP\u306e\u65b9\u5411\u6027\u306a\u3069\u3001\u3055\u307e\u3056\u307e\u306a\u8981\u56e0\u304c\u3042\u308a\u307e\u3059\u3002\u79c1\u305f\u3061\u306f\u3001\u52d5\u304f\u76ee\u6a19\u306b\u7167\u6e96\u3092\u5408\u308f\u305b\u3088\u3046\u3068\u3057\u3066\u304a\u308a\u3001\u305d\u306e\u76ee\u6a19\u306f\u79c1\u305f\u3061\u304c\u5e38\u306b\u4e88\u6e2c\u3067\u304d\u306a\u3044\u65b9\u6cd5\u3067\u52d5\u3044\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u3067\u3059\u304b\u3089\u3001\u3054\u8cea\u554f\u306e\u7b54\u3048\u306f\u3001\u300c\u307e\u3060\u3088\u304f\u308f\u304b\u3089\u306a\u3044\u300d\u3068\u3044\u3046\u3053\u3068\u306b\u306a\u308a\u307e\u3059\u3002\u7b2c3\u56db\u534a\u671f\u306b\u4f55\u304c\u8d77\u3053\u308b\u304b\u3001\u7b2c4\u56db\u534a\u671f\u306b\u8fd1\u3065\u304f\u306b\u3064\u308c\u3001\u305d\u306e\u72b6\u6cc1\u304c\u3069\u306e\u3088\u3046\u306a\u3082\u306e\u304b\u3092\u78ba\u8a8d\u3057\u306a\u304c\u3089\u5bfe\u51e6\u3059\u308b\u3064\u3082\u308a\u3067\u3059\u3002<\/p>\n

Alan Ratner — Zelman and Associates — \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n

\u308f\u304b\u308a\u307e\u3057\u305f\u3002\u3042\u308a\u304c\u3068\u3046\u3001\u30b9\u30c1\u30e5\u30a2\u30fc\u30c8\u3002\u78ba\u304b\u306b\u3053\u3053\u306f\u52d5\u304f\u76ee\u6a19\u3067\u3059\u306d\u3002\u6b21\u306b\u3001\u571f\u5730\u6226\u7565\u306e\u8ee2\u63db\u3068\u305d\u306e\u5b9f\u884c\u3001\u30aa\u30d7\u30b7\u30e7\u30f3\u306e\u30b7\u30a7\u30a2\u30a2\u30c3\u30d7\u306b\u3064\u3044\u3066\u3001\u304a\u3081\u3067\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002<\/p>\n

\u5927\u5c40\u7684\u306b\u898b\u308b\u3068\u3001\u571f\u5730\u5e02\u5834\u306b\u3064\u3044\u3066\u8003\u3048\u305f\u3068\u304d\u3001\u307e\u305f\u5fa1\u793e\u306e\u571f\u5730\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306b\u3064\u3044\u3066\u8003\u3048\u305f\u3068\u304d\u3001\u5fa1\u793e\u306e\u571f\u5730\u6570\u306f\u904e\u53bb2\u5e74\u9593\u3067\u7d0470%\u5897\u52a0\u3057\u3066\u3044\u307e\u3059\u304c\u3001\u3053\u306e\u5897\u52a0\u306f\u3059\u3079\u3066\u30aa\u30d7\u30b7\u30e7\u30f3\u53d6\u5f15\u306b\u3088\u308b\u3082\u306e\u3067\u3001\u6240\u6709\u7269\u4ef6\u306f\u3084\u3084\u7e2e\u5c0f\u3057\u3066\u3044\u307e\u3059\u3002\u4eca\u5e74\u306e\u30af\u30ed\u30fc\u30b8\u30f3\u30b0\u306f\u3001\u3053\u306e2\u5e74\u9593\u3067\u7d0425%\u5897\u52a0\u3059\u308b\u4e88\u5b9a\u3067\u3059\u3002\u305d\u3057\u3066\u3001\u3053\u306e\u30da\u30fc\u30b9\u3092\u7dad\u6301\u3057\u305f\u3044\u3068\u304a\u3063\u3057\u3083\u3044\u307e\u3057\u305f\u3002\u3053\u306e\u4e0d\u5b89\u5b9a\u306a\u6642\u671f\u3092\u4e57\u308a\u5207\u3063\u305f\u3068\u3057\u3066\u3001\u30dc\u30ea\u30e5\u30fc\u30e0\u3092\u7dad\u6301\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u308b\u306e\u3067\u3057\u3087\u3046\u304b\u3002<\/p>\n

\u5c11\u306a\u304f\u3068\u3082\u79c1\u306b\u306f\u300170%\u4ee5\u4e0a\u306e\u30ed\u30c3\u30c8\u3092\u7ba1\u7406\u3059\u308b\u5fc5\u8981\u304c\u3042\u308b\u672c\u5f53\u306e\u7406\u7531\u304c\u3042\u308b\u3068\u306f\u601d\u3048\u307e\u305b\u3093\u3057\u3001\u305d\u306e\u591a\u304f\u304c\u30aa\u30d5\u30d0\u30e9\u30f3\u30b9\u3067\u3042\u308b\u3068\u8a8d\u8b58\u3057\u3066\u3044\u307e\u3059\u3002\u305d\u306e\u571f\u5730\u306b\u306f\u307e\u3060\u76f8\u5f53\u91cf\u306e\u8cc7\u672c\u304c\u7d61\u3093\u3067\u304a\u308a\u3001\u305d\u308c\u306f\u8cb8\u501f\u5bfe\u7167\u8868\u306b\u8a08\u4e0a\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u304a\u305d\u3089\u304f\u3001\u3053\u308c\u3089\u306e\u53d6\u5f15\u3092\u505c\u6b62\u3059\u308b\u304b\u3069\u3046\u304b\u3092\u6c7a\u3081\u308b\u969b\u306b\u306f\u3001\u305d\u306e\u6c7a\u65ad\u3092\u3057\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3067\u3057\u3087\u3046\u3002\u3067\u306f\u3001\u73fe\u5728\u3001\u571f\u5730\u306e\u8ffd\u52a0\u53d6\u5f97\u306b\u3064\u3044\u3066\u3069\u306e\u3088\u3046\u306b\u304a\u8003\u3048\u3067\u3059\u304b\uff1f\u8cb7\u53ce\u306e\u30da\u30fc\u30b9\u3092\u843d\u3068\u3057\u305f\u306e\u3067\u3057\u3087\u3046\u304b\u3002\u307e\u305f\u3001\u77ed\u671f\u7684\u3042\u308b\u3044\u306f\u4e2d\u671f\u7684\u306b\u3001\u5e02\u5834\u306e\u30dc\u30ea\u30e5\u30fc\u30e0\u304c\u305b\u3044\u305c\u3044\u6a2a\u3070\u3044\u3067\u3042\u308b\u306a\u3089\u3070\u3001\u3053\u308c\u3089\u306e\u53d6\u5f15\u304b\u3089\u624b\u3092\u5f15\u304f\u3053\u3068\u306f\u610f\u5473\u304c\u3042\u308b\u306e\u3067\u3057\u3087\u3046\u304b\uff1f<\/p>\n

\u30b9\u30c1\u30e5\u30a2\u30fc\u30c8\u30fb\u30df\u30e9\u30fc — \u4ee3\u8868\u53d6\u7de0\u5f79\u4f1a\u9577<\/p>\n

\u30a2\u30e9\u30f3\u3001\u3042\u306a\u305f\u306f\u9577\u3044\u9593\u3001\u79c1\u305f\u3061\u3068\u3053\u306e\u30d3\u30b8\u30cd\u30b9\u306b\u643a\u308f\u3063\u3066\u3053\u3089\u308c\u305f\u306e\u3067\u3001\u3054\u5b58\u3058\u3060\u3068\u601d\u3044\u307e\u3059\u3002\u571f\u5730\u306f\u3001\u4f4f\u5b85\u30e1\u30fc\u30ab\u30fc\u306e\u6226\u7565\u7684\u69cb\u6210\u306b\u304a\u3044\u3066\u3001\u6700\u3082\u8907\u96d1\u3067\u96e3\u3057\u3044\u90e8\u5206\u3067\u3059\u3002\u79c1\u305f\u3061\u306f\u3001\u30ec\u30ca\u30fc\u3067\u306f\u3001\u571f\u5730\u6226\u7565\u306b\u3064\u3044\u3066\u3001\u3069\u3046\u3059\u308c\u3070\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u306b\u5927\u304d\u306a\u30ea\u30b9\u30af\u3092\u8ca0\u308f\u305a\u306b\u5c06\u6765\u306e\u898b\u901a\u3057\u3092\u7acb\u3066\u3089\u308c\u308b\u304b\u3001\u81a8\u5927\u306a\u6642\u9593\u3092\u8cbb\u3084\u3057\u3066\u304d\u307e\u3057\u305f\u3002\u305d\u3057\u3066\u3001\u3053\u306e2\u5e74\u9593\u306f\u3001\u307e\u3055\u306b\u3053\u306e\u30d0\u30e9\u30f3\u30b9\u306b\u79fb\u884c\u3057\u3066\u304d\u305f\u306e\u3067\u3059\u3002<\/p>\n

Quarterra\u306e\u571f\u5730\u6226\u7565\u306b\u95a2\u9023\u3057\u3066\u3001\u79c1\u305f\u3061\u304c\u6700\u3082\u71b1\u610f\u3092\u6ce8\u3044\u3067\u3044\u308b\u306e\u306f\u3001\u3088\u308a\u591a\u304f\u306e\u571f\u5730\u3092\u78ba\u4fdd\u3057\u3066\u898b\u901a\u3057\u3092\u826f\u304f\u3059\u308b\u3053\u3068\u3067\u3059\u3002\u305d\u3053\u3067\u79c1\u305f\u3061\u306f\u3001\u571f\u5730\u306b\u95a2\u3059\u308b\u8003\u3048\u65b9\u3092\u77ed\u671f\u3001\u4e2d\u671f\u3001\u9577\u671f\u306e\u30d0\u30b1\u30c3\u30c8\u306b\u5206\u3051\u307e\u3057\u305f\u3002\u305d\u3057\u3066\u3001\u67d4\u8edf\u6027\u306e\u3042\u308b\u30d7\u30ed\u30b0\u30e9\u30e0\u3092\u614e\u91cd\u306b\u4f5c\u6210\u3059\u308b\u3053\u3068\u3067\u3001\u898b\u901a\u3057\u3092\u826f\u304f\u3057\u3001\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u3078\u306e\u30ea\u30b9\u30af\u3092\u8efd\u6e1b\u3057\u3001\u67d4\u8edf\u6027\u3092\u9ad8\u3081\u3066\u3044\u307e\u3059\u3002\u305d\u3057\u3066\u3001\u3053\u308c\u304c\u5f53\u793e\u306e\u9032\u5316\u3057\u305f\u59ff\u3060\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n

\u4eca\u65e5\u306e\u5f53\u793e\u306e\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u3092\u3054\u89a7\u304f\u3060\u3055\u3044\u3002\u304b\u3064\u3066\u306a\u3044\u307b\u3069\u5f37\u56fa\u3067\u3001\u571f\u5730\u306e\u53ef\u8996\u6027\u306f\u79c1\u305f\u3061\u306e\u672a\u6765\u306b\u6069\u6075\u3092\u3082\u305f\u3089\u3059\u3060\u3051\u3067\u3059\u3002<\/p>\n

Alan Ratner — Zelman and Associates — \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n

\u7d20\u6674\u3089\u3057\u3044\u3002\u305d\u3046\u3067\u3059\u306d\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002<\/p>\n

\u904b\u55b6\u62c5\u5f53\u8005<\/p>\n

\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u6b21\u306e\u8cea\u554f\u306fJP\u30e2\u30eb\u30ac\u30f3\u306e\u30de\u30a4\u30af\u30fb\u30ea\u30cf\u30a6\u30c8\u304b\u3089\u3067\u3059\u3002\u3069\u3046\u305e\u3088\u308d\u3057\u304f\u304a\u9858\u3044\u3057\u307e\u3059\u3002<\/p>\n

Mike Rehaut — J.P. Morgan — \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n

\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u304a\u306f\u3088\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u79c1\u306e\u8cea\u554f\u306b\u7b54\u3048\u3066\u304f\u3060\u3055\u3063\u3066\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u307e\u305f\u3001\u3055\u307e\u3056\u307e\u306a\u5e02\u5834\u306e\u30d0\u30b1\u30c3\u30c6\u30a3\u30f3\u30b0\u306b\u3064\u3044\u3066\u3001\u8a73\u3057\u304f\u8aac\u660e\u3057\u3066\u3044\u305f\u3060\u304d\u3001\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002\u975e\u5e38\u306b\u52a9\u304b\u308a\u307e\u3059\u3002<\/p>\n

2\u756a\u76ee\u30683\u756a\u76ee\u306e\u30d0\u30b1\u30c3\u30c8\u306b\u3064\u3044\u3066\u3001\u58f2\u4e0a\u9ad8\u306b\u5360\u3081\u308b\u4fa1\u683c\u8abf\u6574\u306e\u6bd4\u7387\u3092\u77e5\u308a\u305f\u3044\u306e\u3067\u3059\u304c\u3002\u307e\u305f\u3001\u30a4\u30f3\u30bb\u30f3\u30c6\u30a3\u30d6\u3092\u542b\u3081\u305f\u6b63\u5473\u306e\u4fa1\u683c\u8a2d\u5b9a\u306b\u3064\u3044\u3066\u304a\u805e\u304b\u305b\u304f\u3060\u3055\u3044\u3002\u307e\u305f\u3001\u3053\u308c\u3089\u306e\u8abf\u6574\u306f\u7b2c4\u56db\u534a\u671f\u306b\u53cd\u6620\u3055\u308c\u308b\u3068\u8003\u3048\u3066\u3088\u3044\u306e\u3067\u3057\u3087\u3046\u304b\uff1f<\/p>\n

\u30ea\u30c3\u30af\u30fb\u30d9\u30c3\u30af\u30a6\u30a3\u30c3\u30c8 — \u5171\u540c\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\u517c\u5171\u540c\u793e\u9577<\/p>\n

\u5148\u307b\u3069\u7533\u3057\u4e0a\u3052\u305f\u3088\u3046\u306b\u3001\u79c1\u305f\u3061\u306f\u5bb6\u5ead\u5358\u4f4d\u3067\u4fa1\u683c\u8abf\u6574\u3092\u884c\u3063\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u3089\u306e\u5e02\u5834\u306e\u591a\u304f\u3067\u306f\u3001\u6b63\u5473\u4fa1\u683c\u3068\u7dcf\u4fa1\u683c\u304c\u524d\u5e74\u540c\u671f\u6bd4\u306740\uff05\u304b\u308950\uff05\u4e0a\u6607\u3057\u3066\u3044\u307e\u3059\u3002\u3053\u306e\u3088\u3046\u306a\u5e02\u5834\u3067\u306f\u3001\u6bd4\u8f03\u7684\u63a7\u3048\u3081\u306a\u4fa1\u683c\u8abf\u6574\u3067\u52d5\u304d\u304c\u51fa\u307e\u3059\u3002\u30d0\u30a4\u30e4\u30fc\u304c\u4eca\u6ce8\u76ee\u3057\u3066\u3044\u308b\u306e\u306f\u3001\u307e\u3055\u306b\u30b9\u30c6\u30c3\u30ab\u30fc\u30b7\u30e7\u30c3 \u30af\u3067\u3059\u3002<\/p>\n

\u4f4f\u5b85\u30ed\u30fc\u30f3\u91d1\u5229\u304c\u4e0a\u6607\u3057\u3001\u7d4c\u6e08\u7684\u306a\u9006\u98a8\u304c\u5439\u304d\u8352\u308c\u3001\u4eba\u3005\u306f\u3053\u306e\u6642\u70b9 \u3067\u6b63\u3057\u3044\u6c7a\u65ad\u304c\u3067\u304d\u305f\u306e\u304b\u3069\u3046\u304b\u3001\u4e0d\u5b89\u306b\u601d\u3063\u3066\u3044\u308b\u306e\u3067\u3059\u3002\u3057\u304b\u3057\u3001\u73fe\u5b9f\u306b\u306f\u3001\u5e02\u5834\u306e\u5728\u5eab\u306f\u975e\u5e38\u306b\u9650\u3089\u308c\u3066\u3044\u307e\u3059\u3002\u3069\u306e\u5e02\u5834\u3067\u3082\u5bb6\u8cc3\u306f\u4e0a\u6607\u3057\u3066\u3044\u307e\u3059\u3002\u3067\u3059\u304b\u3089\u3001\u96a3\u306e\u4eba\u3068\u8a71\u3057\u305f\u3068\u304d\u306b\u3001\u3053\u306e\u307e\u307e\u3067\u306f\u30c0\u30e1\u3060\u3068\u611f\u3058\u306a\u3044\u3088\u3046\u306b\u3059\u308b\u3053\u3068\u304c\u91cd\u8981\u306a\u306e\u3067\u3059\u3002<\/p>\n

\u305d\u306e\u305f\u3081\u3001\u4eba\u3005\u306f\u305d\u306e\u30d7\u30ed\u30bb\u30b9\u3092\u7d4c\u3066\u3044\u307e\u3059\u3002\u4fa1\u5024\u89b3\u304c\u5909\u5316\u3057\u3066\u3044\u308b\u3053\u3068\u3092\u7406\u89e3\u3057\u3066\u3044\u308b\u306e\u3067\u3059\u3002\u305d\u3057\u3066\u3001\u5168\u4f53\u7684\u306a\u69cb\u6210\u3068\u3057\u3066\u306f\u3001\u30b0\u30ed\u30fc\u30d0\u30eb\u30fb\u30de\u30fc\u30b8\u30f3\u30fb\u30d9\u30fc\u30b9\u3067\u306f\u3001\u3053\u308c\u3089\u306f\u975e\u5e38\u306b\u5c0f\u3055\u306a\u5909\u5316\u306a\u306e\u3067\u3059\u3002\u3053\u308c\u3089\u306f\u3001\u4eca\u5f8c\u306e\u30ac\u30a4\u30c0\u30f3\u30b9\u306b\u7e54\u308a\u8fbc\u307f\u6e08\u307f\u3067\u3059\u3002<\/p>\n

\u30b8\u30e7\u30f3\u30fb\u30b8\u30e3\u30c3\u30d5\u30a7 — \u5171\u540c\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\u517c\u5171\u540c\u30d7\u30ec\u30b8\u30c7\u30f3\u30c8<\/p>\n

\u5148\u307b\u3069Rick\u304c\u7533\u3057\u4e0a\u3052\u305f\u3088\u3046\u306b\u3001\u3053\u308c\u306f\u4f4f\u5b85\u30ed\u30fc\u30f3\u91d1\u5229\u306e\u88dc\u52a9\u3068\u8cb7\u3044\u53d6\u308a\u3001\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8\u3001\u305d\u3057\u3066\u4fa1\u683c\u8abf\u6574\u306e\u7d44\u307f\u5408\u308f\u305b\u3067\u3059\u3002\u305d\u306e\u305f\u3081\u3001\u4f4f\u5b85\u30ed\u30fc\u30f3\u306e\u90e8\u5206\u306f\u975e\u5e38\u306b\u91cd\u8981\u306a\u8981\u7d20\u3067\u3059\u3002\u5148\u307b\u3069Stuart\u304c\u8a00\u3063\u305f\u3088\u3046\u306b\u3001\u4eba\u3005\u306f\u6bce\u6708\u306e\u652f\u6255\u3044\u3092\u8cfc\u5165\u3057\u307e\u3059\u3002\u3067\u3059\u304b\u3089\u30012\u756a\u76ee\u306e\u30d0\u30b1\u30c3\u30c8\u306b\u5c5e\u3059\u308b\u5e02\u5834\u306e\u307b\u3068\u3093\u3069\u3067\u3001\u4fa1\u683c\u8abf\u6574\u306f\u3042\u307e\u308a\u884c\u308f\u308c\u305a\u3001\u4f4f\u5b85\u30ed\u30fc\u30f3\u91d1\u5229\u306e\u5f15\u304d\u4e0b\u3052\u3068\u5c0f\u898f\u6a21\u306a\u4fa1\u683c\u8abf\u6574\u306e\u7d44\u307f\u5408\u308f\u305b\u304c\u884c\u308f\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n

Stuart Miller — \u57f7\u884c\u59d4\u54e1\u9577<\/p>\n

\u305d\u308c\u304b\u3089\u3001\u30d1\u30fc\u30c8\u30ca\u30fc\u306e\u30ea\u30c3\u30af\u306b\u8a02\u6b63\u3055\u305b\u3066\u3044\u305f\u3060\u304d\u305f\u3044\u306e\u3067\u3059\u304c\u3001\u4e0b\u65b9\u3078\u306e\u5f15\u304d\u4e0b\u3052\u306f\u5c11\u3057\u53b3\u3057\u304b\u3063\u305f\u3068\u601d\u3044\u307e\u3059\u3002\u3082\u3063\u3068\u5927\u304d\u306a\u5f15\u304d\u306f\u3001\u5c11\u3057\u52c7\u307f\u8db3\u3060\u3063\u305f\u3088\u3046\u306b\u601d\u3044\u307e\u3059\u3002\u30de\u30a4\u30af\u3001\u3069\u3046\u305e\u3002<\/p>\n

Mike Rehaut — J.P. Morgan — \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n

\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u307e\u305f\u3001\u4f4f\u5b85\u30ed\u30fc\u30f3\u306e\u91d1\u5229\u304c\u8abf\u6574\u3055\u308c\u305f\u308a\u3001\u4e0a\u6607\u306b\u8ee2\u3058\u305f\u308a\u3057\u3066\u3044\u308b\u3088\u3046\u3067\u3059\u304c\u3001\u3053\u308c\u3082\u7406\u89e3\u3057\u3066\u304a\u3044\u3066\u304f\u3060\u3055\u3044\u3002\u3053\u308c\u306f\u3001\u91d1\u878d\u30b5\u30fc\u30d3\u30b9\u90e8\u9580\u3067\u306f\u306a\u304f\u3001\u58f2\u4e0a\u539f\u4fa1\u3084\u58f2\u4e0a\u7dcf\u5229\u76ca\u7387\u306b\u5f71\u97ff\u3059\u308b\u3082\u306e\u3060\u3068\u7406\u89e3\u3057\u3066\u3044\u307e\u3059\u3002\u3053\u306e\u70b9\u306b\u3064\u3044\u3066\u3001\u79c1\u305f\u3061\u304c\u7406\u89e3\u3057\u3066\u3044\u308b\u3053\u3068\u3092\u78ba\u8a8d\u3057\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n

2\u3064\u76ee\u306e\u8cea\u554f\u306f\u3001\u5e74\u672b\u306eQuarterra\u306e\u30b9\u30d4\u30f3\u306b\u3064\u3044\u3066\u3067\u3059\u3002Lennar\u306e\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u304b\u308925\u5104\u30c9\u30eb\u306e\u8cc7\u7523\u3092\u53d6\u308a\u9664\u304f\u3068\u304a\u3063\u3057\u3083\u3044\u307e\u3057\u305f\u306d\u3002Quarterra\u81ea\u4f53\u306e\u904b\u7528\u8cc7\u7523\u7dcf\u984d\u306b\u3064\u3044\u3066\u3001\u307e\u305f\u660e\u3089\u304b\u306b\u7570\u306a\u308b\u30d3\u30b8\u30cd\u30b9\u304c\u3042\u308b\u3053\u3068\u306b\u3064\u3044\u3066\u3001\u305d\u306e\u7dcf\u984d\u306e\u611f\u899a\u3092\u304a\u805e\u304b\u305b\u304f\u3060\u3055\u3044\u3002\u3069\u3093\u306a\u7a2e\u985e\u306e\u30ec\u30d3\u30e5\u30fc\u3084\u6700\u65b0\u60c5\u5831\u304c\u3042\u3063\u3066\u3082\u52a9\u304b\u308a\u307e\u3059\u3002<\/p>\n

\u30b9\u30c1\u30e5\u30a2\u30fc\u30c8\u30fb\u30df\u30e9\u30fc — \u57f7\u884c\u5f79\u54e1\u4f1a\u9577<\/p>\n

\u3067\u3059\u304b\u3089\u3001\u307e\u3060Quarterra\u306e\u5b9a\u671f\u7684\u306a\u66f4\u65b0\u306f\u884c\u3063\u3066\u3044\u307e\u305b\u3093\u3057\u3001\u305d\u306e\u30d0\u30b1\u30c4\u306b\u9589\u3058\u8fbc\u3081\u305f\u3044\u308f\u3051\u3067\u3082\u306a\u3044\u306e\u3067\u3059\u3002\u3057\u304b\u3057\u3001Quarterra\u306b\u95a2\u9023\u3059\u308b\u904b\u7528\u8cc7\u7523\u306b\u3064\u3044\u3066\u306f\u3001\u904e\u53bb\u306e\u96fb\u8a71\u4f1a\u8b70\u3067\u3044\u304f\u3064\u304b\u306e\u5883\u754c\u7dda\u3092\u793a\u3057\u305f\u3068\u601d\u3044\u307e\u3059\u3002\u4eca\u3059\u3050\u306b\u306f\u6570\u5b57\u3092\u51fa\u3057\u305f\u304f\u3042\u308a\u307e\u305b\u3093\u3002\u4eca\u3059\u3050\u306b\u306f\u304a\u4f1d\u3048\u3067\u304d\u307e\u305b\u3093\u304c\u3001\u624b\u5143\u306b\u306a\u3044\u306e\u3067\u3059\u3002<\/p>\n

\u3057\u304b\u3057\u3001\u79c1\u304c\u8a00\u3063\u305f\u306e\u306f\u3001\u6642\u9593\u3092\u304b\u3051\u306625\u5104\u30c9\u30eb\u3092\u8ffd\u52a0\u3059\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002\u30b8\u30e7\u30f3\u304c\u3001\u571f\u5730\u6226\u7565\u30d7\u30ed\u30b0\u30e9\u30e0\u306b\u3088\u308b\u79fb\u4f4f\u3068\u571f\u5730\u8cc7\u7523\u306e\u4e00\u90e8\u3092\u7d39\u4ecb\u3057\u305f\u3068\u601d\u3044\u307e\u3059\u3002\u3057\u304b\u3057\u3001\u30af\u30a9\u30fc\u30bf\u30e9\u30fb\u30d0\u30fc\u30c6\u30a3\u30ab\u30eb\u30ba\u3068\u904e\u53bb\u6570\u5e74\u9593\u306e\u5c55\u958b\u306b\u95a2\u9023\u3057\u3066\u3001\u3059\u3067\u306b\u304b\u306a\u308a\u306e\u8cc7\u7523\u304c\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u304b\u3089\u5916\u308c\u3066\u3044\u307e\u3059\u3002\u79c1\u305f\u3061\u304c\u524d\u9032\u3059\u308b\u306b\u3064\u308c\u3066\u3001\u571f\u5730\u6226\u7565\u30d7\u30ed\u30b0\u30e9\u30e0\u304c\u672c\u5f53\u306b\u767a\u5c55\u3057\u7d9a\u3051\u308b\u306e\u3092\u898b\u7d9a\u3051\u3089\u308c\u308b\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n

\u3053\u308c\u306fQuarterra\u306e\u5229\u76ca\u306b\u3082\u306a\u308a\u307e\u3059\u3057\u3001Lennar\u306e\u5229\u76ca\u306b\u3082\u306a\u308a\u307e\u3059\u3002\u307e\u305f\u3001\u30ec\u30ca\u30fc\u306b\u3082\u30e1\u30ea\u30c3\u30c8\u304c\u3042\u308a\u307e\u3059\u3002\u3057\u304b\u3057\u79c1\u304c\u5f37\u8abf\u3057\u305f25\u5104\u30c9\u30eb\u306f\u3001\u3059\u3067\u306bLennar\u306e\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u304b\u3089Quarterra\u306e\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30fb\u30a8\u30af\u30a4\u30c6\u30a3\u306e\u69cb\u6210\u8981\u7d20\u306b\u79fb\u884c\u3057\u3066\u3044\u308b\u91d1\u984d\u306b\u8ffd\u52a0\u3055\u308c\u308b\u3082\u306e\u3067\u3059\u3002\u305d\u308c\u304b\u3089\u30de\u30a4\u30af\u30012\u3064\u76ee\u306e\u8cea\u554f\u306e\u6700\u521d\u306e\u90e8\u5206\u306f\u4f55\u3060\u3063\u305f\u306e\u3067\u3057\u3087\u3046\u304b\uff1f<\/p>\n

Mike Rehaut — J.P. Morgan — \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n

\u306f\u3044\u3002\u4f4f\u5b85\u30ed\u30fc\u30f3\u306e\u8cb7\u3044\u53d6\u308a\u3084\u8abf\u6574\u3001\u4f4f\u5b85\u30ed\u30fc\u30f3\u306e\u69cb\u6210\u8981\u7d20\u3001\u305d\u308c\u304c\u91d1\u878d\u30b5\u30fc\u30d3\u30b9\u3084\u898f\u5236\u5f53\u5c40\u306e\u3082\u306e\u3067\u3042\u308c\u3070\u640d\u76ca\u8a08\u7b97\u66f8\u306e\u3069\u3053\u306b\u6d41\u308c\u308b\u306e\u304b\u3001\u3068\u3044\u3063\u305f\u6700\u521d\u306e\u8cea\u554f\u306b\u5bfe\u3059\u308b\u7b54\u3048\u306b\u5bfe\u3059\u308b\u88dc\u8db3\u3084\u8aac\u660e\u306a\u306e\u3067\u3059\u3002<\/p>\n

\u30b9\u30c1\u30e5\u30a2\u30fc\u30c8\u30fb\u30df\u30e9\u30fc — \u57f7\u884c\u59d4\u54e1\u9577<\/p>\n

\u58f2\u4e0a\u539f\u4fa1\u3067\u3059\u306d\u3001\u30de\u30a4\u30af\u3002<\/p>\n

Mike Rehaut — J.P.\u30e2\u30eb\u30ac\u30f3 — \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n

\u308f\u304b\u308a\u307e\u3057\u305f\u3002\u5b8c\u74a7\u3067\u3059\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002<\/p>\n

\u30b9\u30c1\u30e5\u30a2\u30fc\u30c8\u30fb\u30df\u30e9\u30fc — \u57f7\u884c\u59d4\u54e1\u9577<\/p>\n

\u305d\u3046\u3067\u3059\u306d\u3002\u3082\u30461\u3064\u8cea\u554f\u3092\u304a\u53d7\u3051\u3057\u307e\u3057\u3087\u3046\u3002<\/p>\n

\u30aa\u30da\u30ec\u30fc\u30bf\u30fc<\/p>\n

\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059 \u6700\u5f8c\u306e\u8cea\u554f\u306f\u30b4\u30fc\u30eb\u30c9\u30de\u30f3\u30fb\u30b5\u30c3\u30af\u30b9\u306e\u30b9\u30fc\u30b6\u30f3\u30fb\u30de\u30af\u30e9\u30ea\u304b\u3089\u3067\u3059\u3002\u3069\u3046\u305e<\/p>\n

\u30b9\u30c1\u30e5\u30a2\u30fc\u30c8\u30fb\u30df\u30e9\u30fc — \u57f7\u884c\u59d4\u54e1\u9577<\/p>\n

\u304a\u306f\u3088\u3046\u3054\u3056\u3044\u307e\u3059\u3002<\/p>\n

\u30b9\u30fc\u30b6\u30f3\u30fb\u30de\u30af\u30e9\u30fc\u30ea — \u30b4\u30fc\u30eb\u30c9\u30de\u30f3\u30fb\u30b5\u30c3\u30af\u30b9 — \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n

\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u7686\u3055\u3093\u3001\u304a\u306f\u3088\u3046\u3054\u3056\u3044\u307e\u3059\u3001\u3042\u308b\u3044\u306f\u3053\u3093\u306b\u3061\u306f\u3002<\/p>\n

\u30b9\u30c1\u30e5\u30a2\u30fc\u30c8\u30fb\u30df\u30e9\u30fc — \u4ee3\u8868\u53d6\u7de0\u5f79\u4f1a\u9577<\/p>\n

\u3053\u3093\u306b\u3061\u306f<\/p>\n

\u30b9\u30fc\u30b6\u30f3\u30fb\u30de\u30af\u30e9\u30fc\u30ea — \u30b4\u30fc\u30eb\u30c9\u30de\u30f3\u30fb\u30b5\u30c3\u30af\u30b9 — \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n

\u6700\u521d\u306e\u8cea\u554f\u3067\u3059\u304c\u3001\u30b5\u30d7\u30e9\u30a4\u30c1\u30a7\u30fc\u30f3\u306b\u76f8\u5bfe\u7684\u306a\u6539\u5584\u304c\u898b\u3089\u308c\u308b\u3068\u30b3\u30e1\u30f3\u30c8\u3055\u308c\u307e\u3057\u305f\u304c\u3001\u304a\u305d\u3089\u304f\u30d4\u30fc\u30af\u306b\u9054\u3057\u3066\u3044\u308b\u304b\u3001\u30d4\u30fc\u30af\u3092\u8131\u3057\u3064\u3064\u3042\u308b\u3088\u3046\u306b\u611f\u3058\u3089\u308c\u307e\u3059\u3002\u3053\u306e\u70b9\u306b\u3064\u3044\u3066\u3001\u3082\u3046\u5c11\u3057\u8a73\u3057\u304f\u6559\u3048\u3066\u304f\u3060\u3055\u3044\u3002\u307e\u305f\u3001\u660e\u3089\u304b\u306b\u9700\u8981\u304c\u30b7\u30d5\u30c8\u3057\u3001\u5c11\u3057\u7a4f\u3084\u304b\u306b\u306a\u308b\u306b\u3064\u308c\u3066\u3001\u305d\u3053\u304b\u3089\u5f97\u3089\u308c\u308b\u3055\u3089\u306a\u308b\u6539\u5584\u306b\u3064\u3044\u3066\u3069\u306e\u3088\u3046\u306b\u304a\u8003\u3048\u3067\u3057\u3087\u3046\u304b\u3002<\/p>\n

\u30b8\u30e7\u30f3\u30fb\u30b8\u30e3\u30c3\u30d5\u30a7 — \u5171\u540c\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\u517c\u5171\u540c\u793e\u9577<\/p>\n

\u3054\u8cea\u554f\u306e\u5f8c\u534a\u90e8\u5206\u3067\u3059\u304c\u3001\u5efa\u8a2d\u696d\u8005\u3068\u30b5\u30d7\u30e9\u30a4\u30c1\u30a7\u30fc\u30f3\u304c\u5efa\u8a2d\u4e2d\u306e\u53d7\u6ce8\u6b8b\u3092\u51e6\u7406\u3059\u308b\u904e\u7a0b\u3067\u3001\u5e02\u5834\u306e\u5909\u5316\u3068\u5efa\u8a2d\u91cf\u306e\u5909\u5316\u306b\u306f\u5e38\u306b\u30bf\u30a4\u30e0\u30e9\u30b0\u304c\u3042\u308a\u307e\u3059\u3002\u73fe\u5728\u306e\u72b6\u6cc1\u3068\u6bd4\u8f03\u3059\u308b\u3068\u3001\u79c1\u304c\u30b3\u30e1\u30f3\u30c8\u3067\u8ff0\u3079\u305f\u3088\u3046\u306b\u3001\u6df7\u4e71\u306f\u307e\u3060\u7d9a\u3044\u3066\u3044\u307e\u3059\u304c\u3001\u5f53\u793e\u3082\u30b5\u30d7\u30e9\u30a4\u30e4\u30fc\u3082\u73fe\u5728\u3067\u306f\u306f\u308b\u304b\u306b\u6709\u5229\u306a\u7acb\u5834\u306b\u3042\u308a\u307e\u3059\u3002\u3053\u306e2\u5e74\u9593\u3067\u8ab0\u3082\u304c\u591a\u304f\u3092\u5b66\u3073\u3001\u554f\u984c\u89e3\u6c7a\u306b\u8fc5\u901f\u306b\u5bfe\u5fdc\u3067\u304d\u308b\u3088\u3046\u306b\u306a\u308a\u307e\u3057\u305f\u3002\u30d1\u30f3\u30c7\u30df\u30c3\u30af\u3084\u6df7\u4e71\u306e\u521d\u671f\u306b\u306f\u3001\u554f\u984c\u89e3\u6c7a\u306b\u6570\u30ab\u6708\u304b\u304b\u308b\u3053\u3068\u3082\u3042\u308a\u307e\u3057\u305f\u3002<\/p>\n

\u3057\u304b\u3057\u3001\u4eca\u306f\u6570\u65e5\u3067\u89e3\u6c7a\u3067\u304d\u308b\u3088\u3046\u306a\u72b6\u6cc1\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u73fe\u5728\u3082\u4e0d\u8db3\u304c\u7d9a\u3044\u3066\u3044\u308b\u306e\u306f\u3001\u96fb\u6c17\u6a5f\u5668\u3068\u30d5\u30ec\u30ad\u30b7\u30d6\u30eb\u30c0\u30af\u30c8\u306e2\u3064\u306e\u5206\u91ce\u3067\u3059\u3002\u3057\u304b\u3057\u3001\u3053\u308c\u3089\u306b\u3064\u3044\u3066\u3082\u3001\u4f9b\u7d66\u5143\u3067\u3042\u308b\u53d6\u5f15\u5148\u3068\u7dca\u5bc6\u306b\u9023\u7d61\u3092\u53d6\u308a\u5408\u3044\u3001\u4eca\u5f8c\u6570\u56db\u534a\u671f\u306b\u304a\u3051\u308b\u5f53\u793e\u306e\u30cb\u30fc\u30ba\u3092\u3059\u3079\u3066\u628a\u63e1\u3057\u3066\u3082\u3089\u3044\u3001\u975e\u5e38\u306b\u7dca\u5bc6\u306a\u5354\u529b\u95a2\u4fc2\u3092\u7bc9\u3044\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u30b9\u30c1\u30e5\u30a2\u30fc\u30c8\u30fb\u30df\u30e9\u30fc — \u4ee3\u8868\u53d6\u7de0\u5f79\u4f1a\u9577<\/p>\n

\u30b5\u30d7\u30e9\u30a4\u30c1\u30a7\u30fc\u30f3\u306b\u95a2\u3059\u308b\u554f\u984c\u306e\u89e3\u6c7a\u306f\u3001\u30b5\u30d7\u30e9\u30a4\u30c1\u30a7\u30fc\u30f3\u304c\u5bb9\u6613\u306b\u306a\u3063\u305f\u3068\u3044\u3046\u3053\u3068\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u30b5\u30d7\u30e9\u30a4\u30c1\u30a7\u30fc\u30f3\u304c\u7c21\u5358\u306b\u306a\u3063\u305f\u3068\u3044\u3046\u3088\u308a\u3082\u3001\u30b5\u30d7\u30e9\u30a4\u30c1\u30a7\u30fc\u30f3\u3092\u3088\u308a\u3088\u304f\u7ba1\u7406\u3059\u308b\u3053\u3068\u3092\u8003\u3048\u3001\u52aa\u529b\u3057\u305f\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002\u3057\u304b\u3057\u3001\u30b5\u30a4\u30af\u30eb\u30bf\u30a4\u30e0\u304c\u307e\u3060\u7c98\u7740\u6027\u306e\u3042\u308b\u5927\u578b\u306e\u307e\u307e\u3067\u3042\u308b\u3068\u3044\u3046\u4e8b\u5b9f\u306e\u5f71\u97ff\u304c\u6b8b\u3063\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u306f\u975e\u52b9\u7387\u7684\u3067\u3001\u30b5\u30d7\u30e9\u30a4\u30c1\u30a7\u30fc\u30f3\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u306e\u6d3e\u751f\u3068\u8a00\u3048\u308b\u3067\u3057\u3087\u3046\u3002<\/p>\n

Susan Maklari — Goldman Sachs — \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n

\u306a\u308b\u307b\u3069\u3002\u305d\u308c\u306f\u53c2\u8003\u306b\u306a\u308a\u307e\u3059\u306d\u3002\u7d9a\u3044\u3066\u306e\u8cea\u554f\u3067\u3059\u304c\u3001\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u3068\u73fe\u91d1\u306e\u4f7f\u7528\u306b\u3064\u3044\u3066\u4e00\u822c\u7684\u306b\u8003\u3048\u308b\u3068\u304d\u3001\u3069\u306e\u3088\u3046\u306b\u304a\u8003\u3048\u3067\u3059\u304b\uff1f\u7b2c2\u56db\u534a\u671f\u306b\u81ea\u793e\u682a\u8cb7\u3044\u3092\u884c\u3063\u305f\u3068\u304a\u3063\u3057\u3083\u3044\u307e\u3057\u305f\u304c\u3001\u3053\u308c\u306f\u3069\u3046\u3044\u3046\u3053\u3068\u3067\u3059\u304b\uff1f\u72b6\u6cc1\u304c\u7de9\u3084\u304b\u306b\u306a\u3063\u3066\u3082\u3001\u571f\u5730\u306b\u95a2\u3059\u308b\u6226\u7565\u3084Quarterra\u306e\u30b9\u30d4\u30f3\u306a\u3069\u3001\u8cb4\u793e\u304c\u53d6\u308a\u7d44\u3093\u3067\u3044\u308b\u4ed6\u306e\u3059\u3079\u3066\u306e\u53d6\u308a\u7d44\u307f\u3092\u8ffd\u6c42\u3057\u7d9a\u3051\u308b\u5834\u5408\u3001\u73fe\u91d1\u306e\u4f7f\u7528\u3001\u7279\u306b\u4f4f\u5b85\u74b0\u5883\u304c\u7de9\u3084\u304b\u306b\u306a\u3063\u305f\u5834\u5408\u306e\u682a\u4e3b\u9084\u5143\u306b\u3064\u3044\u3066\u3069\u306e\u3088\u3046\u306b\u304a\u8003\u3048\u3067\u3057\u3087\u3046\u304b?<\/p>\n

\u30b9\u30c1\u30e5\u30a2\u30fc\u30c8\u30fb\u30df\u30e9\u30fc — \u4ee3\u8868\u53d6\u7de0\u5f79\u4f1a\u9577<\/p>\n

\u30ec\u30ca\u30fc\u306b\u8d77\u3053\u3063\u305f\u3053\u3068\u3067\u3001\u30dd\u30b8\u30c6\u30a3\u30d6\u306a\u3053\u3068\u306f\u3001\u904e\u53bb\u6570\u5e74\u9593\u3001\u79c1\u305f\u3061\u306f\u7d20\u6674\u3089\u3057\u3044\u7e41\u6804\u306b\u6075\u307e\u308c\u3066\u304d\u305f\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002\u79c1\u305f\u3061\u306f\u7d4c\u55b6\u30b3\u30b9\u30c8\u3092\u6539\u5584\u3057\u307e\u3057\u305f\u3002\u30ad\u30e3\u30c3\u30b7\u30e5\u3092\u751f\u307f\u51fa\u3059\u3053\u3068\u306b\u6ce8\u529b\u3057\u307e\u3057\u305f\u3002\u5728\u5eab\u3092\u5236\u9650\u3057\u3001\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u4e0a\u306e\u571f\u5730\u3078\u306e\u30a8\u30af\u30b9\u30dd\u30fc\u30b8\u30e3\u30fc\u3092\u5236\u9650\u3059\u308b\u30e2\u30c7\u30eb\u3092\u69cb\u7bc9\u3057\u3001\u81a8\u5927\u306a\u91cf\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u3092\u751f\u307f\u51fa\u3059\u3053\u3068\u3092\u53ef\u80fd\u306b\u3057\u307e\u3057\u305f\u3002<\/p>\n

\u4eca\u5f8c\u3082\u540c\u3058\u8003\u3048\u3067\u3001\u79e9\u5e8f\u3042\u308b\u4e8b\u696d\u5c55\u958b\u3092\u53ef\u80fd\u306b\u3059\u308b\u571f\u5730\u306e\u53ef\u8996\u6027\u3092\u78ba\u4fdd\u3057\u306a\u304c\u3089\u3001\u5f53\u793e\u3092\u4f4d\u7f6e\u3065\u3051\u3066\u3044\u304d\u305f\u3044\u3068\u8003\u3048\u3066\u3044\u307e\u3059\u3002\u307e\u305f\u3001\u5f15\u304d\u7d9a\u304d\u501f\u5165\u91d1\u3092\u8fd4\u6e08\u3057\u3066\u3044\u304f\u4e88\u5b9a\u3067\u3059\u3002\u307e\u305f\u3001\u6a5f\u52d5\u7684\u306b\u81ea\u793e\u682a\u8cb7\u3044\u3092\u7d9a\u3051\u3066\u3044\u304f\u4e88\u5b9a\u3067\u3059\u3002\u30d0\u30e9\u30f3\u30b9\u30b7\u30fc\u30c8\u306b\u306f\u305d\u308c\u3092\u53ef\u80fd\u306b\u3059\u308b\u8cc7\u672c\u304c\u3042\u308a\u3001Quarterra\u304b\u308925\u5104\u30c9\u30eb\u306e\u8ffd\u52a0\u8cc7\u672c\u3092\u8abf\u9054\u3057\u3066\u3044\u308b\u6700\u4e2d\u3067\u3059\u3002<\/p>\n

\u30d7\u30ec\u30b9\u30ea\u30ea\u30fc\u30b9\u306e\u6700\u5f8c\u3068\u79c1\u306e\u30b3\u30e1\u30f3\u30c8\u3067\u305d\u3046\u8ff0\u3079\u307e\u3057\u305f\u304c\u3001\u79c1\u305f\u3061\u306f\u3046\u3089\u3084\u307e\u3057\u3044\u307b\u3069\u306e\u5f37\u8005\u306e\u7acb\u5834\u306b\u3042\u308b\u3068\u601d\u3044\u307e\u3059\u3002\u30d7\u30ec\u30b9\u30ea\u30ea\u30fc\u30b9\u306e\u6700\u5f8c\u306b\u3082\u3001\u79c1\u306e\u30b3\u30e1\u30f3\u30c8\u306b\u3082\u66f8\u304d\u307e\u3057\u305f\u304c\u3001\u3053\u306e\u3088\u3046\u306a\u72b6\u6cc1\u306b\u304a\u3044\u3066\u3001\u5f37\u307f\u3092\u767a\u63ee\u3059\u308b\u3053\u3068\u306f\u3001\u5e02\u5834\u74b0\u5883\u306b\u5bfe\u5fdc\u3059\u308b\u305f\u3081\u306e\u7d20\u6674\u3089\u3057\u3044\u65b9\u6cd5\u3067\u3059\u3002\u3068\u3044\u3046\u3053\u3068\u3067\u3001\u826f\u3044\u30aa\u30d5\u30ed\u30fc\u30c9\u3001\u826f\u3044\u30bf\u30a4\u30df\u30f3\u30b0\u3067\u7de0\u3081\u304f\u304f\u308c\u305f\u3068\u601d\u3044\u307e\u3059\u3002\u5148\u9031COVID\u306b\u611f\u67d3\u3057\u305f\u30d1\u30fc\u30c8\u30ca\u30fc\u306e\u30ea\u30c3\u30af\u304c\u5fa9\u5e30\u3057\u305f\u3053\u3068\u3092\u3001\u30b0\u30eb\u30fc\u30d7\u3068\u3057\u3066\u3001\u7d4c\u55b6\u9663\u3068\u3057\u3066\u3001\u3046\u308c\u3057\u304f\u601d\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u5f7c\u306f\u6570\u65e5\u9593\u4eba\u624b\u4e0d\u8db3\u3067\u3057\u305f\u304c\u3001\u305d\u308c\u3067\u3082\u4f1a\u793e\u306f\u4e00\u6b69\u3082\u8b72\u308b\u3053\u3068\u306a\u304f\u904b\u55b6\u3067\u304d\u3066\u3044\u307e\u3059\u3002\u3067\u3082\u3001\u4eca\u306f\u30d5\u30eb\u30d1\u30ef\u30fc\u3067\u3059\u3002\u305d\u3057\u3066\u3001\u7b2c3\u56db\u534a\u671f\u306e\u7d42\u308f\u308a\u306b\u306f\u3001\u3082\u3046\u5c11\u3057\u78ba\u5b9f\u306a\u5831\u544a\u304c\u3067\u304d\u308b\u3053\u3068\u3092\u671f\u5f85\u3057\u3066\u3044\u307e\u3059\u3002\u7686\u3055\u3093\u3001\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002<\/p>\n

 <\/p>\n

\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

\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

\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

\u2193\u2193\uff1c\u5fdc\u63f4\u30af\u30ea\u30c3\u30af\u304a\u9858\u3044\u3057\u307e\u3059\uff1e<\/p>\n

\"\u306b\u307b\u3093\u30d6\u30ed\u30b0\u6751<\/a>
\n\u306b\u307b\u3093\u30d6\u30ed\u30b0\u6751<\/a><\/p>\n

\"\u306b\u307b\u3093\u30d6\u30ed\u30b0\u6751<\/a>
\n\u306b\u307b\u3093\u30d6\u30ed\u30b0\u6751<\/a><\/p>\n

\"\u306b\u307b\u3093\u30d6\u30ed\u30b0\u6751<\/a>
\n\u306b\u307b\u3093\u30d6\u30ed\u30b0\u6751<\/a><\/p>\n

\"\u306b\u307b\u3093\u30d6\u30ed\u30b0\u6751<\/a>
\n\u306b\u307b\u3093\u30d6\u30ed\u30b0\u6751<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u30ec\u30ca\u30fc (NYSE:LEN) 2022\u5e74\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a\u306e\u65e5\u672c\u8a9e\u8a33\u3067\u3059\u3002 Q2\u306e\u6c7a\u7b97\u306f\u975e\u5e38\u306b\u826f\u304b\u3063\u305f\u3067\u3059\u304c\u30ac\u30a4\u30c0\u30f3\u30b9\u304c\u5f31\u3044\u3067\u3059\u306d\u3002\u91d1\u5229\u4e0a\u6607\u306b\u3088\u3063\u30666\u6708\u304b\u3089\u9700\u8981\u304c\u6e1b\u901f\u3057\u3066\u3044\u307e\u3059\u3002 2022\u5e74\u5f8c\u534a\u306b\u306f\u7b2c1\u56db\u534a\u671f\u306b\u6025\u9a30\u3057\u305f … <\/p>\n","protected":false},"author":1,"featured_media":958,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[468,703,465,467,105,83],"class_list":{"0":"post-1710","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-72","8":"tag-len","9":"tag-703","10":"tag-465","11":"tag-467","12":"tag-105","13":"tag-83"},"yoast_head":"\n\u3010\u7ffb\u8a33\u3011\u30ec\u30ca\u30fc (NYSE:LEN) 2022\u5e74\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a – \u682a\u5f0f\u6295\u8cc7\u30921up\u3059\u308b\u30d6\u30ed\u30b0<\/title>\n<meta name=\"description\" content=\"\u30ec\u30ca\u30fc (NYSE:LEN) 2022\u5e74\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a\u306e\u65e5\u672c\u8a9e\u8a33\u3067\u3059\u3002Q2\u306e\u6c7a\u7b97\u306f\u975e\u5e38\u306b\u826f\u304b\u3063\u305f\u3067\u3059\u304c\u30ac\u30a4\u30c0\u30f3\u30b9\u304c\u5f31\u3044\u3067\u3059\u306d\u3002\u91d1\u5229\u4e0a\u6607\u306b\u3088\u3063\u30666\u6708\u304b\u3089\u306f\u9700\u8981\u304c\u6e1b\u901f\u3057\u3066\u3044\u307e\u3059\u3002\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/1up-life.blog\/?p=1710\" \/>\n<meta property=\"og:locale\" content=\"ja_JP\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u3010\u7ffb\u8a33\u3011\u30ec\u30ca\u30fc (NYSE:LEN) 2022\u5e74\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a – \u682a\u5f0f\u6295\u8cc7\u30921up\u3059\u308b\u30d6\u30ed\u30b0\" \/>\n<meta property=\"og:description\" content=\"\u30ec\u30ca\u30fc (NYSE:LEN) 2022\u5e74\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a\u306e\u65e5\u672c\u8a9e\u8a33\u3067\u3059\u3002Q2\u306e\u6c7a\u7b97\u306f\u975e\u5e38\u306b\u826f\u304b\u3063\u305f\u3067\u3059\u304c\u30ac\u30a4\u30c0\u30f3\u30b9\u304c\u5f31\u3044\u3067\u3059\u306d\u3002\u91d1\u5229\u4e0a\u6607\u306b\u3088\u3063\u30666\u6708\u304b\u3089\u306f\u9700\u8981\u304c\u6e1b\u901f\u3057\u3066\u3044\u307e\u3059\u3002\" \/>\n<meta property=\"og:url\" content=\"https:\/\/1up-life.blog\/?p=1710\" \/>\n<meta property=\"og:site_name\" content=\"\u682a\u5f0f\u6295\u8cc7\u30921up\u3059\u308b\u30d6\u30ed\u30b0\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-22T12:27:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-22T12:30:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/1up-life.blog\/wp-content\/uploads\/2021\/12\/LEN.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"416\" \/>\n\t<meta property=\"og:image:height\" content=\"416\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"\u3059\u3051\u307d\u3093\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u57f7\u7b46\u8005\" \/>\n\t<meta name=\"twitter:data1\" content=\"\u3059\u3051\u307d\u3093\" \/>\n\t<meta name=\"twitter:label2\" content=\"\u63a8\u5b9a\u8aad\u307f\u53d6\u308a\u6642\u9593\" \/>\n\t<meta name=\"twitter:data2\" content=\"63\u5206\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/1up-life.blog\\\/?p=1710#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/1up-life.blog\\\/?p=1710\"},\"author\":{\"name\":\"\u3059\u3051\u307d\u3093\",\"@id\":\"https:\\\/\\\/1up-life.blog\\\/#\\\/schema\\\/person\\\/1706c8f6d05b86f64e59045d776dc7b9\"},\"headline\":\"\u3010\u7ffb\u8a33\u3011\u30ec\u30ca\u30fc (NYSE:LEN) 2022\u5e74\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a\",\"datePublished\":\"2022-06-22T12:27:59+00:00\",\"dateModified\":\"2022-06-22T12:30:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/1up-life.blog\\\/?p=1710\"},\"wordCount\":330,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/1up-life.blog\\\/#\\\/schema\\\/person\\\/1706c8f6d05b86f64e59045d776dc7b9\"},\"image\":{\"@id\":\"https:\\\/\\\/1up-life.blog\\\/?p=1710#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/1up-life.blog\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/LEN.jpg\",\"keywords\":[\"LEN\",\"\u30db\u30fc\u30e0\u30d3\u30eb\u30c0\u30fc\",\"\u30ec\u30ca\u30fc\",\"\u4f4f\u5b85\",\"\u6c7a\u7b97\",\"\u7c73\u56fd\u682a\"],\"articleSection\":[\"\u30ab\u30f3\u30d5\u30a1\u30ec\u30f3\u30b9\u30b3\u30fc\u30eb\u65e5\u672c\u8a9e\u8a33\"],\"inLanguage\":\"ja\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/1up-life.blog\\\/?p=1710#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/1up-life.blog\\\/?p=1710\",\"url\":\"https:\\\/\\\/1up-life.blog\\\/?p=1710\",\"name\":\"\u3010\u7ffb\u8a33\u3011\u30ec\u30ca\u30fc (NYSE:LEN) 2022\u5e74\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a – \u682a\u5f0f\u6295\u8cc7\u30921up\u3059\u308b\u30d6\u30ed\u30b0\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/1up-life.blog\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/1up-life.blog\\\/?p=1710#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/1up-life.blog\\\/?p=1710#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/1up-life.blog\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/LEN.jpg\",\"datePublished\":\"2022-06-22T12:27:59+00:00\",\"dateModified\":\"2022-06-22T12:30:49+00:00\",\"description\":\"\u30ec\u30ca\u30fc (NYSE:LEN) 2022\u5e74\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a\u306e\u65e5\u672c\u8a9e\u8a33\u3067\u3059\u3002Q2\u306e\u6c7a\u7b97\u306f\u975e\u5e38\u306b\u826f\u304b\u3063\u305f\u3067\u3059\u304c\u30ac\u30a4\u30c0\u30f3\u30b9\u304c\u5f31\u3044\u3067\u3059\u306d\u3002\u91d1\u5229\u4e0a\u6607\u306b\u3088\u3063\u30666\u6708\u304b\u3089\u306f\u9700\u8981\u304c\u6e1b\u901f\u3057\u3066\u3044\u307e\u3059\u3002\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/1up-life.blog\\\/?p=1710#breadcrumb\"},\"inLanguage\":\"ja\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/1up-life.blog\\\/?p=1710\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"ja\",\"@id\":\"https:\\\/\\\/1up-life.blog\\\/?p=1710#primaryimage\",\"url\":\"https:\\\/\\\/1up-life.blog\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/LEN.jpg\",\"contentUrl\":\"https:\\\/\\\/1up-life.blog\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/LEN.jpg\",\"width\":416,\"height\":416},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/1up-life.blog\\\/?p=1710#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"\u30db\u30fc\u30e0\",\"item\":\"https:\\\/\\\/1up-life.blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"\u3010\u7ffb\u8a33\u3011\u30ec\u30ca\u30fc (NYSE:LEN) 2022\u5e74\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/1up-life.blog\\\/#website\",\"url\":\"https:\\\/\\\/1up-life.blog\\\/\",\"name\":\"\u7c73\u56fd\u682a\u30921up\u3059\u308b\u30d6\u30ed\u30b0\",\"description\":\"\u4e3b\u306b\u7c73\u56fd\u682a\u306e\u6c7a\u7b97\u60c5\u5831\u3084\u6295\u8cc7\u306b\u3064\u3044\u3066\u7d39\u4ecb\u3057\u3066\u3044\u304d\u307e\u3059\u3002\u305f\u307e\u306b\u65e5\u672c\u682a\u3067\u3082\u8208\u5473\u304c\u3042\u308b\u3053\u3068\u3092\u66f8\u3044\u3066\u3044\u304d\u307e\u3059\u3002\",\"publisher\":{\"@id\":\"https:\\\/\\\/1up-life.blog\\\/#\\\/schema\\\/person\\\/1706c8f6d05b86f64e59045d776dc7b9\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/1up-life.blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"ja\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/1up-life.blog\\\/#\\\/schema\\\/person\\\/1706c8f6d05b86f64e59045d776dc7b9\",\"name\":\"\u3059\u3051\u307d\u3093\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"ja\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/12c497be8a6e2d3e908d0bd22f4fec4ba47c4da19b8458040d8040e22dd0ef49?s=96&d=monsterid&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/12c497be8a6e2d3e908d0bd22f4fec4ba47c4da19b8458040d8040e22dd0ef49?s=96&d=monsterid&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/12c497be8a6e2d3e908d0bd22f4fec4ba47c4da19b8458040d8040e22dd0ef49?s=96&d=monsterid&r=g\",\"caption\":\"\u3059\u3051\u307d\u3093\"},\"logo\":{\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/12c497be8a6e2d3e908d0bd22f4fec4ba47c4da19b8458040d8040e22dd0ef49?s=96&d=monsterid&r=g\"},\"sameAs\":[\"https:\\\/\\\/1up-life.blog\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"\u3010\u7ffb\u8a33\u3011\u30ec\u30ca\u30fc (NYSE:LEN) 2022\u5e74\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a – \u682a\u5f0f\u6295\u8cc7\u30921up\u3059\u308b\u30d6\u30ed\u30b0","description":"\u30ec\u30ca\u30fc (NYSE:LEN) 2022\u5e74\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a\u306e\u65e5\u672c\u8a9e\u8a33\u3067\u3059\u3002Q2\u306e\u6c7a\u7b97\u306f\u975e\u5e38\u306b\u826f\u304b\u3063\u305f\u3067\u3059\u304c\u30ac\u30a4\u30c0\u30f3\u30b9\u304c\u5f31\u3044\u3067\u3059\u306d\u3002\u91d1\u5229\u4e0a\u6607\u306b\u3088\u3063\u30666\u6708\u304b\u3089\u306f\u9700\u8981\u304c\u6e1b\u901f\u3057\u3066\u3044\u307e\u3059\u3002","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/1up-life.blog\/?p=1710","og_locale":"ja_JP","og_type":"article","og_title":"\u3010\u7ffb\u8a33\u3011\u30ec\u30ca\u30fc (NYSE:LEN) 2022\u5e74\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a – \u682a\u5f0f\u6295\u8cc7\u30921up\u3059\u308b\u30d6\u30ed\u30b0","og_description":"\u30ec\u30ca\u30fc (NYSE:LEN) 2022\u5e74\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a\u306e\u65e5\u672c\u8a9e\u8a33\u3067\u3059\u3002Q2\u306e\u6c7a\u7b97\u306f\u975e\u5e38\u306b\u826f\u304b\u3063\u305f\u3067\u3059\u304c\u30ac\u30a4\u30c0\u30f3\u30b9\u304c\u5f31\u3044\u3067\u3059\u306d\u3002\u91d1\u5229\u4e0a\u6607\u306b\u3088\u3063\u30666\u6708\u304b\u3089\u306f\u9700\u8981\u304c\u6e1b\u901f\u3057\u3066\u3044\u307e\u3059\u3002","og_url":"https:\/\/1up-life.blog\/?p=1710","og_site_name":"\u682a\u5f0f\u6295\u8cc7\u30921up\u3059\u308b\u30d6\u30ed\u30b0","article_published_time":"2022-06-22T12:27:59+00:00","article_modified_time":"2022-06-22T12:30:49+00:00","og_image":[{"width":416,"height":416,"url":"https:\/\/1up-life.blog\/wp-content\/uploads\/2021\/12\/LEN.jpg","type":"image\/jpeg"}],"author":"\u3059\u3051\u307d\u3093","twitter_card":"summary_large_image","twitter_misc":{"\u57f7\u7b46\u8005":"\u3059\u3051\u307d\u3093","\u63a8\u5b9a\u8aad\u307f\u53d6\u308a\u6642\u9593":"63\u5206"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/1up-life.blog\/?p=1710#article","isPartOf":{"@id":"https:\/\/1up-life.blog\/?p=1710"},"author":{"name":"\u3059\u3051\u307d\u3093","@id":"https:\/\/1up-life.blog\/#\/schema\/person\/1706c8f6d05b86f64e59045d776dc7b9"},"headline":"\u3010\u7ffb\u8a33\u3011\u30ec\u30ca\u30fc (NYSE:LEN) 2022\u5e74\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a","datePublished":"2022-06-22T12:27:59+00:00","dateModified":"2022-06-22T12:30:49+00:00","mainEntityOfPage":{"@id":"https:\/\/1up-life.blog\/?p=1710"},"wordCount":330,"commentCount":0,"publisher":{"@id":"https:\/\/1up-life.blog\/#\/schema\/person\/1706c8f6d05b86f64e59045d776dc7b9"},"image":{"@id":"https:\/\/1up-life.blog\/?p=1710#primaryimage"},"thumbnailUrl":"https:\/\/1up-life.blog\/wp-content\/uploads\/2021\/12\/LEN.jpg","keywords":["LEN","\u30db\u30fc\u30e0\u30d3\u30eb\u30c0\u30fc","\u30ec\u30ca\u30fc","\u4f4f\u5b85","\u6c7a\u7b97","\u7c73\u56fd\u682a"],"articleSection":["\u30ab\u30f3\u30d5\u30a1\u30ec\u30f3\u30b9\u30b3\u30fc\u30eb\u65e5\u672c\u8a9e\u8a33"],"inLanguage":"ja","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/1up-life.blog\/?p=1710#respond"]}]},{"@type":"WebPage","@id":"https:\/\/1up-life.blog\/?p=1710","url":"https:\/\/1up-life.blog\/?p=1710","name":"\u3010\u7ffb\u8a33\u3011\u30ec\u30ca\u30fc (NYSE:LEN) 2022\u5e74\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a – \u682a\u5f0f\u6295\u8cc7\u30921up\u3059\u308b\u30d6\u30ed\u30b0","isPartOf":{"@id":"https:\/\/1up-life.blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/1up-life.blog\/?p=1710#primaryimage"},"image":{"@id":"https:\/\/1up-life.blog\/?p=1710#primaryimage"},"thumbnailUrl":"https:\/\/1up-life.blog\/wp-content\/uploads\/2021\/12\/LEN.jpg","datePublished":"2022-06-22T12:27:59+00:00","dateModified":"2022-06-22T12:30:49+00:00","description":"\u30ec\u30ca\u30fc (NYSE:LEN) 2022\u5e74\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a\u306e\u65e5\u672c\u8a9e\u8a33\u3067\u3059\u3002Q2\u306e\u6c7a\u7b97\u306f\u975e\u5e38\u306b\u826f\u304b\u3063\u305f\u3067\u3059\u304c\u30ac\u30a4\u30c0\u30f3\u30b9\u304c\u5f31\u3044\u3067\u3059\u306d\u3002\u91d1\u5229\u4e0a\u6607\u306b\u3088\u3063\u30666\u6708\u304b\u3089\u306f\u9700\u8981\u304c\u6e1b\u901f\u3057\u3066\u3044\u307e\u3059\u3002","breadcrumb":{"@id":"https:\/\/1up-life.blog\/?p=1710#breadcrumb"},"inLanguage":"ja","potentialAction":[{"@type":"ReadAction","target":["https:\/\/1up-life.blog\/?p=1710"]}]},{"@type":"ImageObject","inLanguage":"ja","@id":"https:\/\/1up-life.blog\/?p=1710#primaryimage","url":"https:\/\/1up-life.blog\/wp-content\/uploads\/2021\/12\/LEN.jpg","contentUrl":"https:\/\/1up-life.blog\/wp-content\/uploads\/2021\/12\/LEN.jpg","width":416,"height":416},{"@type":"BreadcrumbList","@id":"https:\/\/1up-life.blog\/?p=1710#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"\u30db\u30fc\u30e0","item":"https:\/\/1up-life.blog\/"},{"@type":"ListItem","position":2,"name":"\u3010\u7ffb\u8a33\u3011\u30ec\u30ca\u30fc (NYSE:LEN) 2022\u5e74\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a"}]},{"@type":"WebSite","@id":"https:\/\/1up-life.blog\/#website","url":"https:\/\/1up-life.blog\/","name":"\u7c73\u56fd\u682a\u30921up\u3059\u308b\u30d6\u30ed\u30b0","description":"\u4e3b\u306b\u7c73\u56fd\u682a\u306e\u6c7a\u7b97\u60c5\u5831\u3084\u6295\u8cc7\u306b\u3064\u3044\u3066\u7d39\u4ecb\u3057\u3066\u3044\u304d\u307e\u3059\u3002\u305f\u307e\u306b\u65e5\u672c\u682a\u3067\u3082\u8208\u5473\u304c\u3042\u308b\u3053\u3068\u3092\u66f8\u3044\u3066\u3044\u304d\u307e\u3059\u3002","publisher":{"@id":"https:\/\/1up-life.blog\/#\/schema\/person\/1706c8f6d05b86f64e59045d776dc7b9"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/1up-life.blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"ja"},{"@type":["Person","Organization"],"@id":"https:\/\/1up-life.blog\/#\/schema\/person\/1706c8f6d05b86f64e59045d776dc7b9","name":"\u3059\u3051\u307d\u3093","image":{"@type":"ImageObject","inLanguage":"ja","@id":"https:\/\/secure.gravatar.com\/avatar\/12c497be8a6e2d3e908d0bd22f4fec4ba47c4da19b8458040d8040e22dd0ef49?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/12c497be8a6e2d3e908d0bd22f4fec4ba47c4da19b8458040d8040e22dd0ef49?s=96&d=monsterid&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/12c497be8a6e2d3e908d0bd22f4fec4ba47c4da19b8458040d8040e22dd0ef49?s=96&d=monsterid&r=g","caption":"\u3059\u3051\u307d\u3093"},"logo":{"@id":"https:\/\/secure.gravatar.com\/avatar\/12c497be8a6e2d3e908d0bd22f4fec4ba47c4da19b8458040d8040e22dd0ef49?s=96&d=monsterid&r=g"},"sameAs":["https:\/\/1up-life.blog"]}]}},"_links":{"self":[{"href":"https:\/\/1up-life.blog\/index.php?rest_route=\/wp\/v2\/posts\/1710","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/1up-life.blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1up-life.blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1up-life.blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/1up-life.blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1710"}],"version-history":[{"count":2,"href":"https:\/\/1up-life.blog\/index.php?rest_route=\/wp\/v2\/posts\/1710\/revisions"}],"predecessor-version":[{"id":1713,"href":"https:\/\/1up-life.blog\/index.php?rest_route=\/wp\/v2\/posts\/1710\/revisions\/1713"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/1up-life.blog\/index.php?rest_route=\/wp\/v2\/media\/958"}],"wp:attachment":[{"href":"https:\/\/1up-life.blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1710"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1up-life.blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1710"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1up-life.blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1710"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}