{"id":1802,"date":"2022-07-24T14:54:24","date_gmt":"2022-07-24T05:54:24","guid":{"rendered":"https:\/\/1up-life.blog\/?p=1802"},"modified":"2022-07-24T14:54:59","modified_gmt":"2022-07-24T05:54:59","slug":"%e3%82%b7%e3%83%a5%e3%83%ab%e3%83%b3%e3%83%99%e3%83%ab%e3%82%b8%e3%82%a7-slb2022%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=1802","title":{"rendered":"\u30b7\u30e5\u30eb\u30f3\u30d9\u30eb\u30b8\u30a7 (SLB)2022\u5e74\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a"},"content":{"rendered":"<p>\u30b7\u30e5\u30eb\u30f3\u30d9\u30eb\u30b8\u30a7 (SLB)2022\u5e74\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a\u306e\u65e5\u672c\u8a9e\u8a33\u3067\u3059\u3002<\/p>\n<p>\u597d\u6c7a\u7b97\u3067\u3059\u306d\u3002\u30ac\u30a4\u30c0\u30f3\u30b9\u3082\u3088\u304f\u30a8\u30cd\u30eb\u30ae\u30fc\u4f01\u696d\u304c\u8a2d\u5099\u6295\u8cc7\u306b\u524d\u5411\u304d\u306a\u69d8\u306a\u306e\u3067\u305d\u3061\u3089\u306b\u3082\u671f\u5f85\u304c\u6301\u3066\u307e\u3059\u3002<\/p>\n<p>\u30a8\u30cd\u30eb\u30ae\u30fc\u554f\u984c\u306f\u5b89\u5168\u4fdd\u969c\u306b\u3082\u76f4\u7d50\u3057\u307e\u3059\u306e\u3067\u4eca\u5f8c\u3082\u91cd\u8981\u306a\u8ab2\u984c\u3060\u3068\u601d\u308f\u308c\u307e\u3059\u3002<\/p>\n<p>\u4eca\u5f8c\u3082\u3057\u3070\u3089\u304f\u306f\u6210\u9577\u304c\u898b\u8fbc\u3081\u308b\u3068\u601d\u3044\u307e\u3059\u306e\u3067\u6ce8\u76ee\u3057\u3066\u3044\u304d\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n<div id=\"attachment_1804\" style=\"width: 1489px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1804\" class=\"wp-image-1804 size-full\" src=\"https:\/\/1up-life.blog\/wp-content\/uploads\/2022\/07\/SLB_2022-07-24_14-50-01.png\" alt=\"\u30b7\u30e5\u30eb\u30f3\u30d9\u30eb\u30b8\u30a7 (SLB)\u682a\u4fa1\" width=\"1479\" height=\"743\" srcset=\"https:\/\/1up-life.blog\/wp-content\/uploads\/2022\/07\/SLB_2022-07-24_14-50-01.png 1479w, https:\/\/1up-life.blog\/wp-content\/uploads\/2022\/07\/SLB_2022-07-24_14-50-01-300x151.png 300w, https:\/\/1up-life.blog\/wp-content\/uploads\/2022\/07\/SLB_2022-07-24_14-50-01-1024x514.png 1024w, https:\/\/1up-life.blog\/wp-content\/uploads\/2022\/07\/SLB_2022-07-24_14-50-01-768x386.png 768w, https:\/\/1up-life.blog\/wp-content\/uploads\/2022\/07\/SLB_2022-07-24_14-50-01-940x472.png 940w\" sizes=\"auto, (max-width: 1479px) 100vw, 1479px\" \/><p id=\"caption-attachment-1804\" class=\"wp-caption-text\">\u30b7\u30e5\u30eb\u30f3\u30d9\u30eb\u30b8\u30a7 (SLB)\u682a\u4fa1<\/p><\/div>\n<p>\u524d\u56de\u306e<a href=\"https:\/\/1up-life.blog\/?p=1392\">2022\u5e74\u7b2c1\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a\u306f\u3053\u3061\u3089<\/a>\u3067\u3059\u3002<\/p>\n<p class=\"hh hh3 main-bdr\"><span class=\"big\"><strong>\u30b7\u30e5\u30eb\u30f3\u30d9\u30eb\u30b8\u30a7 (SLB)2022\u5e74\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a<\/strong><\/span><\/p>\n<p>Call participants:<br \/>\nND Maduemezia &#8212; Vice President of Investor Relations<br \/>\nOlivier Le Peuch &#8212; Chief Executive Officer<br \/>\nStephane Biguet &#8212; Chief Financial Officer<br \/>\nJames West &#8212; Evercore ISI &#8212; Analyst<br \/>\nDavid Anderson &#8212; Barclays &#8212; Analyst<br \/>\nChase Mulvehill &#8212; Bank of America Merrill Lynch &#8212; Analyst<br \/>\nArun Jayaram &#8212; J.P. Morgan &#8212; Analyst<br \/>\nNeil Mehta &#8212; Goldman Sachs &#8212; Analyst<br \/>\nScott Gruber &#8212; Citi &#8212; Analyst<br \/>\nRoger Read &#8212; Wells Fargo Securities &#8212; Analyst<br \/>\nConnor Lynagh &#8212; Morgan Stanley &#8212; Analyst<br \/>\nKeith MacKey &#8212; RBC Capital Markets &#8212; Analyst<br \/>\nMarc Bianchi &#8212; Cowen and Company &#8212; Analyst<br \/>\nMore SLB analysis<\/p>\n<p>2022\u5e747\u670822\u65e5\u5348\u524d9\u664230\u5206<\/p>\n<p>\u30aa\u30da\u30ec\u30fc\u30bf\u30fc<\/p>\n<p>\u7686\u69d8\u3001\u304a\u5f85\u305f\u305b\u3057\u307e\u3057\u305f\u3002\u30b7\u30e5\u30eb\u30f3\u30d9\u30eb\u30b8\u30a7\u306e\u6c7a\u7b97\u8aac\u660e\u4f1a\u3067\u3059\u3002[\u3053\u306e\u30ab\u30f3\u30d5\u30a1\u30ec\u30f3\u30b9\u306f\u9332\u97f3\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u305d\u308c\u3067\u306f\u3001IR\u62c5\u5f53\u526f\u793e\u9577\u306eND\u30de\u30c9\u30a5\u30e1\u30b8\u30a2\u306b\u4f1a\u8b70\u3092\u5f15\u304d\u7d99\u304e\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002\u3069\u3046\u305e\u3088\u308d\u3057\u304f\u304a\u9858\u3044\u3057\u307e\u3059\u3002<\/p>\n<p>ND Maduemezia &#8212; \u6295\u8cc7\u5bb6\u5411\u3051\u5e83\u5831\u62c5\u5f53\u30d0\u30a4\u30b9\u30d7\u30ec\u30b8\u30c7\u30f3\u30c8<\/p>\n<p>\u3042\u308a\u304c\u3068\u3046\u3001\u30ea\u30a2\u3002\u7686\u3055\u3093\u3001\u304a\u306f\u3088\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u30b7\u30e5\u30eb\u30f3\u30d9\u30eb\u30b8\u30a7\u30fb\u30ea\u30df\u30c6\u30c3\u30c9\u306e 2022 \u5e74\u7b2c 2 \u56db\u534a\u671f\u6c7a\u7b97\u96fb\u8a71\u4f1a\u8b70\u306b\u3088\u3046\u3053\u305d\u3002\u672c\u65e5\u306e\u96fb\u8a71\u4f1a\u8b70\u306f\u3001\u4eca\u9031\u521d\u3081\u306b\u958b\u50ac\u3055\u308c\u305fSchlumberger Limited\u306e\u53d6\u7de0\u5f79\u4f1a\u306e\u5f8c\u3001\u30d1\u30ea\u304b\u3089\u958b\u50ac\u3057\u3066\u3044\u307e\u3059\u3002\u3053\u306e\u96fb\u8a71\u4f1a\u8b70\u306b\u306f\u3001\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\u306e\u30aa\u30ea\u30d3\u30a8\u30fb\u30eb\u30fb\u30d7\u30fc\u30c1\u3068\u6700\u9ad8\u8ca1\u52d9\u8cac\u4efb\u8005\u306e\u30b9\u30c6\u30d5\u30a1\u30f3\u30fb\u30d3\u30b2\u304c\u53c2\u52a0\u3057\u3066\u3044\u307e\u3059\u3002<br \/>\n\u307e\u305a\u59cb\u3081\u306b\u3001\u53c2\u52a0\u8005\u306e\u7686\u69d8\u306b\u3001\u672c\u65e5\u306e\u767a\u8a00\u306b\u306f\u5c06\u6765\u4e88\u6e2c\u306b\u95a2\u3059\u308b\u3082\u306e\u304c\u542b\u307e\u308c\u3066\u3044\u308b\u3053\u3068\u3092\u304a\u4f1d\u3048\u3057\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002\u3053\u308c\u3089\u306e\u4e8b\u9805\u306b\u306f\u30ea\u30b9\u30af\u3084\u4e0d\u78ba\u5b9f\u6027\u304c\u542b\u307e\u308c\u3066\u304a\u308a\u3001\u5f53\u793e\u306e\u696d\u7e3e\u306f\u3053\u308c\u3089\u306e\u8a18\u8ff0\u306b\u542b\u307e\u308c\u308b\u4e88\u6e2c\u304b\u3089\u5927\u304d\u304f\u4e56\u96e2\u3059\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002\u3057\u305f\u304c\u3063\u3066\u3001\u5f53\u793e\u306e\u6700\u65b0\u306e10-K\u5831\u544a\u66f8\u304a\u3088\u3073\u305d\u306e\u4ed6\u306eSEC\u63d0\u51fa\u66f8\u985e\u3092\u3054\u53c2\u7167\u304f\u3060\u3055\u3044\u3002\u307e\u305f\u3001\u672c\u65e5\u306e\u30b3\u30e1\u30f3\u30c8\u306b\u306f\u3001\u975eGAAP\u30d9\u30fc\u30b9\u306e\u8ca1\u52d9\u6307\u6a19\u304c\u542b\u307e\u308c\u308b\u5834\u5408\u304c\u3042\u308a\u307e\u3059\u3002<br \/>\n\u8a73\u7d30\u304a\u3088\u3073\u6700\u3082\u76f4\u63a5\u7684\u306b\u6bd4\u8f03\u3067\u304d\u308bGAAP\u30d9\u30fc\u30b9\u306e\u8ca1\u52d9\u6307\u6a19\u3068\u306e\u8abf\u6574\u8868\u306f\u3001\u5f53\u793e\u30a6\u30a7\u30d6\u30b5\u30a4\u30c8\u306b\u63b2\u8f09\u3055\u308c\u3066\u3044\u308b\u7b2c2\u56db\u534a\u671f\u306e\u30d7\u30ec\u30b9\u30ea\u30ea\u30fc\u30b9\u306b\u63b2\u8f09\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u305d\u308c\u3067\u306f\u3001Olivier\u306b\u96fb\u8a71\u3092\u304b\u308f\u308a\u307e\u3059\u3002<\/p>\n<p>\u30aa\u30ea\u30d3\u30a8\u30fb\u30eb\u30fb\u30d7\u30fc\u30c1 &#8212; \u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005<\/p>\n<p>ND\u3001\u3042\u308a\u304c\u3068\u3046\u3002\u7686\u3055\u3093\u3001\u3054\u304d\u3052\u3093\u3088\u3046\u3002\u304a\u96fb\u8a71\u306b\u3054\u53c2\u52a0\u3044\u305f\u3060\u304d\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u672c\u65e5\u306f\u3001\u7b2c2\u56db\u534a\u671f\u306e\u696d\u7e3e\u3068\u30de\u30af\u30ed\u74b0\u5883\u306b\u95a2\u3059\u308b\u6700\u65b0\u306e\u898b\u89e3\u304b\u3089\u30013\u3064\u306e\u30c8\u30d4\u30c3\u30af\u3092\u53d6\u308a\u4e0a\u3052\u307e\u3059\u3002<br \/>\n\u305d\u3057\u3066\u6700\u5f8c\u306b\u3001\u4e0b\u534a\u671f\u306e\u898b\u901a\u3057\u3068\u3001\u901a\u671f\u306e\u30ac\u30a4\u30c0\u30f3\u30b9\u3092\u5f15\u304d\u4e0a\u3052\u308b\u306b\u3042\u305f\u3063 \u3066\u306e\u305d\u306e\u8aac\u5f97\u529b\u306e\u3042\u308b\u7279\u6027\u306b\u3064\u3044\u3066\u304a\u8a71\u3057\u3057\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002\u7b2c2\u56db\u534a\u671f\u306f\u3001\u58f2\u4e0a\u9ad8\u3001\u5229\u76ca\u7387\u306e\u62e1\u5927\u30011\u682a\u5f53\u308a\u5229\u76ca\u306e\u5927\u5e45\u306a\u5897\u52a0\u306b\u3088\u308a\u3001\u4eca\u5e74\u5ea6\u306e\u5168\u4f53\u7684\u306a\u8ecc\u8de1\u3092\u6c7a\u5b9a\u3065\u3051\u305f\u77ac\u9593\u3067\u3057\u305f\u3002\u5f53\u793e\u306e\u696d\u7e3e\u306f\u5805\u8abf\u306b\u63a8\u79fb\u3057\u3001\u65b9\u5411\u6027\u3068\u3057\u3066\u3082\u3059\u3079\u3066\u306e\u30c8\u30ec\u30f3\u30c9\u304c\u5f53\u793e\u306b\u30d7\u30e9\u30b9\u306b\u50cd\u304d\u307e\u3057\u305f\u3002\u56fd\u969b\u7684\u306a\u4e8b\u696d\u6d3b\u52d5\u306e\u529b\u5f37\u3044\u6210\u9577\u3001\u5317\u7c73\u306b\u304a\u3051\u308b\u7740\u5b9f\u306a\u6398\u524a\u306e\u52e2\u3044\u3001\u30aa\u30d5\u30b7\u30e7\u30a2\u306e\u6301\u7d9a\u7684\u306a\u56de\u5fa9\u3001\u4fa1\u683c\u6539\u5584\u306e\u5f71\u97ff\u306e\u62e1 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\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005<\/p>\n<p>\u307e\u305a\u3001\u79c1\u305f\u3061\u304c\u76f4\u9762\u3057\u3066\u3044\u308b\u30de\u30af\u30ed\u74b0\u5883\u306f\u975e\u5e38\u306b\u30e6\u30cb\u30fc\u30af\u3067\u3042\u308b\u3053\u3068\u3092\u5f37\u8abf\u3057\u3066\u304a\u304d\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002\u524d\u4f8b\u306e\u306a\u3044\u4f4e\u3044\u4f59\u5270\u751f\u7523\u80fd\u529b\u30018\u5e74\u9593\u306b\u308f\u305f\u308b\u56fd\u969b\u7684\u306a\u76c6\u5730\u3078\u306e\u904e\u5c0f\u6295\u8cc7\u3001\u305d\u3057\u3066\u30a8\u30cd\u30eb\u30ae\u30fc\u5b89\u5168\u4fdd\u969c\u306e\u8981\u8acb\u304c\u91cd\u306a\u308a\u3001\u77f3\u6cb9\u3068\u56fd\u969b\u76c6\u5730\u306e\u4e00\u90e8\u3068\u3044\u3046\u591a\u69d8\u306a\u8abf\u9054\u5148\u304c\u751f\u307e\u308c\u3064\u3064\u3042\u308b\u306e\u3067\u3059\u3002\u305d\u306e\u305f\u3081\u3001\u30a8\u30cd\u30eb\u30ae\u30fc\u5b89\u5168\u4fdd\u969c\u306b\u5bfe\u5fdc\u3059\u308b\u305f\u3081\u306e\u751f\u7523\u80fd\u529b\u5897\u5f37\u306e\u8108\u7d61\u304c\u77ed\u3044\u3060\u3051\u3067\u306a\u304f\u3001\u77f3\u6cb9\u306e\u751f\u7523\u80fd\u529b\u62e1\u5927\u3001\u30ac\u30b9\u958b\u767a\u306e\u52a0\u901f\u3001\u56fd\u969b\u7684\u306a\u57fa\u76e4\u306e\u5168\u4f53\u50cf\u306e\u5fc5\u8981\u6027\u304c\u5f37\u5316\u3055\u308c\u308b\u3053\u3068\u306b\u306a\u308b\u306e\u3067\u3059\u3002\u6d77\u4e0a\u3068\u9678\u4e0a\u306e\u4e21\u65b9\u304c\u305d\u306e\u6069\u6075\u3092\u53d7\u3051\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u79c1\u305f\u3061\u306e\u9867\u5ba2\u3067\u3042\u308b\u56fd\u55b6\u4f01\u696d\u3001\u56fd\u969b\u77f3\u6cb9\u4f1a\u793e\u3001\u56fd\u969b\u72ec\u7acb\u7cfb\u4f01\u696d\u306e\u4e21\u65b9\u304c\u3001\u3053\u306e\u547c\u3073\u304b\u3051\u306b\u5fdc\u3048\u3001\u6295\u8cc7\u3092\u52a0\u901f\u3057\u3001\u56fd\u969b\u7684\u306b\u76ee\u306b\u898b\u3048\u308b\u5f62\u3067\u6295\u8cc7\u3092\u56de\u8ee2\u3055\u305b\u308b\u3068\u3044\u3046\u5fc3\u5883\u306b\u5909\u5316\u3092\u898b\u305b\u3066\u3044\u307e\u3059\u3002\u3053\u306e\u3088\u3046\u306b\u3001\u77f3\u6cb9\u30fb\u30ac\u30b9\u3068\u3082\u306b\u524d\u5411\u304d\u306a\u74b0\u5883\u3067\u3042\u308b\u3053\u3068\u306f\u9593\u9055\u3044\u3042\u308a\u307e\u305b\u3093\u3002\u30ac\u30a4\u30a2\u30ca\u304b\u3089\u30d6\u30e9\u30b8\u30eb\u3001\u30b3\u30ed\u30f3\u30d3\u30a2\u3001\u305d\u3057\u3066\u77ed\u3044\u30b5\u30a4\u30af\u30eb\u3067\u306f\u30a2\u30eb\u30bc\u30f3\u30c1\u30f3\u307e\u3067\u3001\u30b7\u30a7\u30fc\u30eb\u30ac\u30b9\u306b\u3055\u3089\u3055\u308c\u305f\u74b0\u5883\u306f\u4eca\u5f8c\u3082\u7d9a\u304f\u3068\u601d\u308f\u308c\u307e\u3059\u3002\u30b3\u30ed\u30f3\u30d3\u30a2\u6c96\u306e\u63a2\u9271\u3084\u3001\u30d6\u30e9\u30b8\u30eb\u306e\u5927\u897f\u6d0b\u5cb8\u30de\u30fc\u30b8\u30f3\u306a\u3069\u3001\u4eca\u5f8c\u3082\u7d99\u7d9a\u3055\u308c\u308b\u3068\u898b\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u3054\u5b58\u77e5\u306e\u3088\u3046\u306b\u3001\u30ed\u30b7\u30a2\u30fb\u30a6\u30af\u30e9\u30a4\u30ca\u5730\u57df\u306e\u5236\u7d04\u3092\u88dc\u3063\u3066\u4f59\u308a\u3042\u308b\u307b\u3069\u3001\u3053\u306e\u5730\u57df\u306e\u77f3\u6cb9\u6d77\u76c6\u306f\u7d20\u6674\u3089\u3057\u3044\u5e95\u6d41\u3092\u5f62\u6210\u3057\u3066\u3044\u307e\u3059\u3002\u307e\u305f\u3001\u30e8\u30fc\u30ed\u30c3\u30d1\u3001\u897f\u30a2\u30d5\u30ea\u30ab\u3001\u30b9\u30ab\u30f3\u30b8\u30ca\u30d3\u30a2\u3067\u306f\u3001\u6765\u5e74\u304b\u3089\u59cb\u307e\u308b\u30e6\u30cb\u30fc\u30af\u306a\u7a0e\u5236\u512a\u9047\u63aa\u7f6e\u306b\u3088\u3063\u3066\u3001\u3053\u306e\u50be\u5411\u304c\u3055\u3089\u306b\u52a0\u901f\u3055\u308c\u308b\u3067\u3057\u3087\u3046\u3057\u3001\u6771\u5730\u4e2d\u6d77\u3084\u9ed2\u6d77\u3067\u3082\u3001\u4eca\u5f8c\u7d99\u7d9a\u7684\u306b\u6210\u9577\u304c\u898b\u8fbc\u307e\u308c\u307e\u3059\u3002\u6b21\u306b\u3001\u4e2d\u6771\u3068\u30a2\u30b8\u30a2\u3067\u3059\u3002UAE\u3001\u30b5\u30a6\u30b8\u30a2\u30e9\u30d3\u30a2\u3001\u305d\u3057\u3066\u3042\u308b\u7a0b\u5ea6\u30af\u30a6\u30a7\u30fc\u30c8\u3067\u3082\u3001\u77f3\u6cb9\u306e\u751f\u7523\u80fd\u529b\u5897\u5f37\u304c\u884c\u308f\u308c\u308b\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n<p>\u307e\u305f\u3001KSA\u306e\u5834\u5408\u3001\u6765\u5e74\u304b\u3089\u30aa\u30d5\u30b7\u30e7\u30a2\u6d3b\u52d5\u304c\u4e00\u90e8\u6d3b\u767a\u5316\u3057\u307e\u3059\u3002\u4e2d\u6771\u3067\u5927\u898f\u6a21\u306b\u958b\u767a\u3055\u308c\u3066\u3044\u308b\u30ac\u30b9\u306f\u3001\u56fd\u5185\u5411\u3051\u3068\u71c3\u6599\u4ee3\u66ff\u306e\u4e21\u65b9\u304c\u3042\u308a\u3001\u30ab\u30bf\u30fc\u30eb\u3067\u306f\u5f53\u793e\u306e\u5f37\u307f\u3092\u767a\u63ee\u3057\u7d9a\u3051\u308b\u3067\u3057\u3087\u3046\u3002\u305d\u3057\u3066\u3001\u30a2\u30b8\u30a2\u5e02\u5834\u3067\u3059\u3002\u5357\u30b7\u30ca\u6d77\u3078\u306e\u9577\u671f\u7684\u306a\u6295\u8cc7\u3082\u8996\u91ce\u306b\u5165\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u3053\u306e\u3088\u3046\u306b\u3001\u30de\u30eb\u30c1\u30d6\u30e9\u30f3\u30c1\u30fb\u30de\u30eb\u30c1\u30ab\u30e9\u30fc\u3067\u3001\u597d\u8abf\u306a\u6ed1\u308a\u51fa\u3057\u3092\u898b\u305b\u3066\u3044\u307e\u3059\u3002\u6b21\u306b\u3001ECA\u3084\u4e2d\u6771\u306e\u4e8b\u696d\u306b\u3064\u3044\u3066\u3067\u3059\u304c\u3001\u3053\u306e\u56db\u534a\u671f\u3067\u5909\u8c8c\u3092\u9042\u3052\u307e\u3057\u305f\u3002<\/p>\n<p>James West &#8212; Evercore ISI &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>OK\u3067\u3059\u3002OK\u3067\u3059\u3002\u4e86\u89e3\u3067\u3059\u3002\u3068\u3066\u3082\u52a9\u304b\u308b\u3088\u3001\u30aa\u30ea\u30d0\u30fc\u3002<\/p>\n<p>\u79c1\u304b\u3089\u306f\u7c21\u5358\u306a\u30d5\u30a9\u30ed\u30fc\u30a2\u30c3\u30d7\u3092\u3057\u307e\u3057\u3087\u3046\u3002\u3042\u306a\u305f\u306f9\u6708\u306b\u30c7\u30b8\u30bf\u30eb\u30a4\u30d9\u30f3\u30c8\u3092\u958b\u50ac\u3057\u307e\u3059\u3002\u8b1b\u6f14\u8005\u306e\u30ea\u30b9\u30c8\u3092\u898b\u305f\u306e\u3067\u3059\u304c\u3001\u975e\u5e38\u306b\u7d20\u6674\u3089\u3057\u3044\u30e1\u30f3\u30d0\u30fc\u3067\u3059\u306d\u3002\u3053\u306e\u696d\u754c\u306e\u30c7\u30b8\u30bf\u30eb\u5316\u3001\u3042\u308b\u3044\u306f\u30c7\u30b8\u30bf\u30eb\u30fb\u30b8\u30e3\u30fc\u30cb\u30fc\u306b\u3064\u3044\u3066\u3001\u3069\u306e\u3088\u3046\u306b\u304a\u8003\u3048\u3067\u3057\u3087\u3046\u304b\u3002\u30b7\u30e5\u30eb\u30f3\u30d9\u30eb\u30b8\u30a7\u306f\u3001\u30c7\u30b8\u30bf\u30eb\u5316\u3092\u3055\u3089\u306b\u63a8\u3057\u9032\u3081\u308b\u305f\u3081\u306e\u9078\u629e\u3092\u884c\u3063\u3066\u3044\u308b\u3088\u3046\u3067\u3059\u304c\u3001\u305d\u306e\u6210\u679c\u306f\u640d\u76ca\u8a08\u7b97\u66f8\u3067\u3082\u8a3c\u660e\u3055\u308c\u3066\u3044\u307e\u3059\u306d\u3002<\/p>\n<p>\u30c7\u30b8\u30bf\u30eb\u306b\u3064\u3044\u3066\u304a\u805e\u304b\u305b\u304f\u3060\u3055\u3044\u3002<\/p>\n<p>\u30aa\u30ea\u30d3\u30a8\u30fb\u30eb\u30fb\u30d7\u30fc\u30c1 &#8212; \u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005<\/p>\n<p>\u3044\u3044\u3048\u3001\u305d\u306e\u901a\u308a\u3060\u3068\u601d\u3044\u307e\u3059\u30029\u6708\u306b\u958b\u50ac\u3055\u308c\u308b\u3053\u306e\u30c7\u30b8\u30bf\u30eb\u30fb\u30d5\u30a9\u30fc\u30e9\u30e0\u306b\u306f\u3001\u591a\u304f\u306e\u30d1\u30cd\u30eb\u304c\u96c6\u307e\u3063\u3066\u3044\u307e\u3059\u304c\u3001\u3053\u308c\u306b\u306f\u7406\u7531\u304c\u3042\u308a\u307e\u3059\u3002\u30c7\u30b8\u30bf\u30eb\u306f\u52b9\u7387\u6027\u3092\u5927\u5e45\u306b\u5411\u4e0a\u3055\u305b\u308b\u3053\u3068\u304c\u3067\u304d\u3001\u30ad\u30e3\u30c3\u30b7\u30e5\u5275\u51fa\u30b3\u30b9\u30c8\u306b\u30d7\u30e9\u30b9\u306e\u5f71\u97ff\u3092\u4e0e\u3048\u7d9a\u3051\u3001\u4e8b\u696d\u306e\u8131\u70ad\u7d20\u5316\u306b\u8ca2\u732e\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002\u3053\u306e\u3088\u3046\u306a\u7406\u7531\u304b\u3089\u3001\u79c1\u305f\u3061\u306e\u30c7\u30b8\u30bf\u30eb\u30fb\u30d5\u30a9\u30fc\u30e0\u306b\u591a\u304f\u306e\u3001\u305d\u3057\u3066\u8a18\u9332\u7684\u306a\u6570\u306e\u304a\u5ba2\u69d8\u304c\u3044\u3089\u3063\u3057\u3083\u3044\u307e\u3059\u3002<\/p>\n<p>\u3053\u306e\u6210\u529f\u306e2\u3064\u76ee\u306e\u7406\u7531\u306f\u3001\u30bd\u30fc\u30c8\u30fb\u30ea\u30fc\u30c0\u30fc\u30b7\u30c3\u30d7\u3068\u30d7\u30e9\u30c3\u30c8\u30d5\u30a9\u30fc\u30e0\u6226\u7565\u304c\u63a1\u7528\u3055\u308c\u3001\u30c7\u30b8\u30bf\u30eb\u5206\u91ce\u3067\u306e\u6210\u529f\u306e\u790e\u3068\u306a\u3063\u305f\u3053\u3068\u3067\u3059\u3002\u3053\u308c\u306f\u30ed\u30f3\u30b0\u30c6\u30fc\u30eb\u3067\u3042\u308a\u3001\u3053\u306e10\u5e74\u3001\u305d\u3057\u3066\u305d\u306e\u5148\u3082\u305a\u3063\u3068\u7d9a\u304f\u3067\u3057\u3087\u3046\u3002\u307e\u305f\u3001\u3053\u306e\u30d7\u30e9\u30c3\u30c8\u30d5\u30a9\u30fc\u30e0\u3068\u30c7\u30b8\u30bf\u30eb\u6280\u8853\u3092\u6d3b\u7528\u3057\u3066\u3001\u30aa\u30da\u30ec\u30fc\u30b7\u30e7\u30f3\u3092\u5f37\u5316\u3057\u3001\u30c7\u30b8\u30bf\u30eb\u30aa\u30da\u30ec\u30fc\u30b7\u30e7\u30f3\u3092\u5909\u9769\u3057\u3001\u304a\u5ba2\u69d8\u3084\u30aa\u30da\u30ec\u30fc\u30b7\u30e7\u30f3\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u3001\u52b9\u7387\u3068\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u3092\u5411\u4e0a\u3055\u305b\u308b\u3053\u3068\u3082\u76ee\u6307\u3057\u3066\u3044\u307e\u3059\u3002\u3064\u307e\u308a\u3001\u52b9\u7387\u6027\u3092\u9ad8\u3081\u3001\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u3092\u5411\u4e0a\u3055\u305b\u308b\u3053\u3068\u3067\u3001\u30d7\u30ec\u30df\u30a2\u30e0\u3092\u7372\u5f97\u3057\u3001\u5e02\u5834\u3067\u306e\u5730\u4f4d\u3092\u5411\u4e0a\u3055\u305b\u308b\u3053\u3068\u304c\u3067\u304d\u308b\u306e\u3067\u3059\u3002<\/p>\n<p>\u3064\u307e\u308a\u30012\u3064\u306e\u52b9\u679c\u304c\u3042\u308b\u306e\u3067\u3059\u3002\u3057\u304b\u3057\u3001\u30c7\u30b8\u30bf\u30eb\u30fb\u30d5\u30a9\u30fc\u30e0\u306e\u6210\u529f\u306f\u3001\u79c1\u305f\u3061\u306e\u30c1\u30fc\u30e0\u306e\u529f\u7e3e\u3067\u3042\u308b\u3068\u540c\u6642\u306b\u3001\u30c7\u30b8\u30bf\u30eb\u304c\u3053\u306e\u696d\u754c\u306e\u4e3b\u6d41\u3067\u3042\u308b\u3053\u3068\u306e\u8a3c\u660e\u3067\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>\u4e86\u89e3\u3067\u3059\u3002\u3042\u308a\u304c\u3068\u3046\u3001\u30aa\u30ea\u30d3\u30a8\u3002<\/p>\n<p>\u30aa\u30da\u30ec\u30fc\u30bf\u30fc<\/p>\n<p>\u6b21\u306e\u8cea\u554f\u306f\u30d0\u30fc\u30af\u30ec\u30a4\u30ba\u306e\u30c7\u30d3\u30c3\u30c9\u30fb\u30a2\u30f3\u30c0\u30fc\u30bd\u30f3\u304b\u3089\u3067\u3059\u3002\u3069\u3046\u305e\u3088\u308d\u3057\u304f\u304a\u9858\u3044\u3057\u307e\u3059\u3002<\/p>\n<p>David Anderson &#8212; \u30d0\u30fc\u30af\u30ec\u30a4\u30ba &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u304a\u306f\u3088\u3046\u3054\u3056\u3044\u307e\u3059\u3001\u30aa\u30ea\u30d3\u30a8\u3002\u3055\u3066\u3001\u4eca\u56de\u306e\u6c7a\u7b97\u3067\u3059\u304c\u3001\u3069\u306e\u5730\u57df\u3067\u3082\u3001\u3069\u306e\u30bb\u30b0\u30e1\u30f3\u30c8\u3067\u3082\u6210\u9577\u3057\u307e\u3057\u305f\u306d\u3002\u3057\u304b\u3057\u3001\u79c1\u304c\u975e\u5e38\u306b\u8208\u5473\u6df1\u3044\u3068\u601d\u3063\u305f\u306e\u306f\u4e2d\u6771\u30fb\u5317\u30a2\u30d5\u30ea\u30ab\u5730\u57df\u3067\u3059\u3002\u3053\u306e\u56db\u534a\u671f\u306f7\uff05\u6210\u9577\u3057\u307e\u3057\u305f\u304c\u3001\u4e2d\u6771\u3067\u306f\u307e\u3060\u59cb\u307e\u3063\u3066\u3055\u3048\u3044\u307e\u305b\u3093\u3002<\/p>\n<p>\u305d\u3053\u3067\u3001\u307e\u305a\u3053\u306e\u5730\u57df\u304b\u3089\u59cb\u3081\u3066\u3001\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u306e\u52d5\u54e1\u72b6\u6cc1\u3084\u3001\u3053\u306e\u5730\u57df\u304c\u3069\u306e\u3088\u3046\u306b\u767a\u5c55\u3057\u3066\u3044\u308b\u306e\u304b\u3092\u6559\u3048\u3066\u3044\u305f\u3060\u3051\u306a\u3044\u3067\u3057\u3087\u3046\u304b\uff1f\u307e\u305f\u3001\u624b\u6301\u3061\u306e\u5951\u7d04\u306b\u3064\u3044\u3066\u3001\u3044\u3064\u3054\u308d\u304b\u3089\u672c\u683c\u7684\u306a\u7a3c\u50cd\u3092\u958b\u59cb\u3067\u304d\u308b\u306e\u3067\u3057\u3087\u3046\u304b\u3002\u307e\u305f\u3001\u305d\u308c\u306b\u95a2\u9023\u3059\u308b\u3053\u3068\u3067\u3059\u304c\u3001\u73fe\u5730\u3067\u6d3b\u52d5\u304c\u6d3b\u767a\u306b\u306a\u3063\u3066\u304b\u3089\u3057\u3070\u3089\u304f\u7d4c\u3061\u307e\u3059\u3002\u3057\u304b\u3057\u3001\u7acb\u3061\u4e0a\u3052\u306e\u9045\u308c\u3084\u30b3\u30b9\u30c8\u30a2\u30c3\u30d7\u304c\u3057\u3070\u3057\u3070\u898b\u53d7\u3051\u3089\u308c\u307e\u3059\u3002\u7d14\u7c8b\u306a\u5b9f\u884c\u306f\u5225\u3068\u3057\u3066\u3001\u3053\u3046\u3057\u305f\u30ea\u30b9\u30af\u3092\u56de\u907f\u3059\u308b\u65b9\u6cd5\u306f\u3042\u308b\u306e\u3067\u3057\u3087\u3046\u304b\uff1f\u904e\u53bb\u306e\u30b5\u30a4\u30af\u30eb\u304b\u3089\u5b66\u3093\u3060\u6559\u8a13\u306f\u3042\u308a\u307e\u3059\u304b\uff1f\u305d\u308c\u3068\u3082\u3001\u4ee5\u524d\u306e\u30b5\u30a4\u30af\u30eb\u306b\u306f\u306a\u304b\u3063\u305f\u3088\u3046\u306a\u3001\u3088\u308a\u7d71\u5408\u3055\u308c\u305f\u6398\u524a\u4f5c\u696d\u3060\u304b\u3089\u9055\u3046\u306e\u3067\u3057\u3087\u3046\u304b\uff1f<\/p>\n<p>\u30aa\u30ea\u30d3\u30a8\u30fb\u30eb\u30fb\u30d7\u30fc\u30c1 &#8212; 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Anderson &#8212; \u30d0\u30fc\u30af\u30ec\u30a4\u30ba &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u30aa\u30d5\u30b7\u30e7\u30a2\u5e02\u5834\u306b\u3064\u3044\u3066\u306f\u3001\u5b9f\u306f2\u3064\u76ee\u306e\u8cea\u554f\u3067\u3057\u305f\u3002\u30aa\u30d5\u30b7\u30e7\u30a2\u5e02\u5834\u306f\u3001\u63a2\u67fb\u3001\u6398\u524a\u3001\u6d77\u5e95\u30d6\u30fc\u30b9\u30bf\u30fc\u306a\u3069\u3001\u5fa1\u793e\u306e\u6280\u8853\u30d7\u30ed\u30d5\u30a1\u30a4\u30eb\u306b\u3074\u3063\u305f\u308a\u3067\u3059\u3002\u4e2d\u6771\u3067\u306f\u3001\u6d45\u6d77\u57df\u3068\u30b8\u30e3\u30c3\u30ad\u30a2\u30c3\u30d7\u304c\u6025\u5897\u3057\u3066\u3044\u307e\u3059\u306d\u3002\u30aa\u30d5\u30b7\u30e7\u30a2\u958b\u767a\u306e\u5168\u4f53\u7684\u306a\u5909\u9077\u3092\u8a9e\u308b\u306e\u306f\u65e9\u8a08\u3067\u3057\u3087\u3046\u304b\u3002\u79c1\u305f\u3061\u306f\u3001\u5fa1\u793e\u306e\u591a\u304f\u306e&#8230;\u305d\u3046\u3067\u3059\u306d\u3002<\/p>\n<p>\u30e1\u30ad\u30b7\u30b3\u6e7e\u306e\u6c96\u5408\u3067\u3001\u5fa1\u793e\u306e\u77f3\u6cb9\u3092\u305f\u304f\u3055\u3093\u898b\u307e\u3057\u305f\u3002\u65e9\u3059\u304e\u308b\u3068\u3044\u3046\u3053\u3068\u306f\u306a\u3044\u3067\u3059\u304b\uff1f\u305d\u3046\u3067\u3059\u306d\u3002<\/p>\n<p>Olivier Le Peuch &#8212; CEO\uff08\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005<\/p>\n<p>\u3044\u3044\u3048\u3001\u65e9\u3059\u304e\u308b\u3068\u3044\u3046\u3053\u3068\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u7b2c2\u56db\u534a\u671f\u306f\u3001\u56fd\u969b\u77f3\u6cb9\u958b\u767a\u5e1d\u77f3\u3067\u306f\u30aa\u30d5\u30b7\u30e7\u30a2\u304c\u6210\u9577\u7387\u3092\u62bc\u3057\u4e0a\u3052\u307e\u3057\u305f\u3002\u56fd\u969b\u77f3\u6cb9\u958b\u767a\u5e1d\u77f3\u3067\u306f\u76ee\u306b\u898b\u3048\u3066\u6210\u9577\u7387\u304c\u4e0a\u304c\u3063\u3066\u3044\u307e\u3059\u3057\u3001ECA\u3067\u3082\u305d\u308c\u304c\u78ba\u8a8d\u3067\u304d\u307e\u3059\u3002\u307e\u305f\u3001ECA\uff08\u6b27\u5dde\u539f\u5b50\u529b\u5e81\uff09\u306e\u5831\u544a\u66f8\u306a\u3069\u3092\u8aad\u3080\u3068\u30012022\u5e74\u30012025\u5e74\u306e\u30aa\u30d5\u30b7\u30e7\u30a2\u6295\u8cc7\u3068FID\u6d3b\u52d5\u306e\u898b\u901a\u3057\u306f\u30012016\u5e74\u304b\u30892019\u5e74\u306e\u30b5\u30a4\u30af\u30eb\u3067\u76ee\u306b\u898b\u3048\u3066\u4e0a\u56de\u308b\u3068\u66f8\u3044\u3066\u3042\u308a\u307e\u3059\u3002\u3053\u306e\u30aa\u30d5\u30b7\u30e7\u30a2\u306e\u30b5\u30a4\u30af\u30eb\u306f\u307e\u3060\u521d\u671f\u6bb5\u968e\u3067\u3059\u304c\u3001\u975e\u5e38\u306b\u8208\u5473\u6df1\u3044\u3082\u306e\u3067\u3059\u3002<\/p>\n<p>\u3053\u306e\u30b5\u30a4\u30af\u30eb\u306b\u306f\u3001\u79c1\u305f\u3061\u304c\u30de\u30af\u30ed\u7684\u306b\u8003\u3048\u3066\u4e88\u60f3\u3057\u3066\u3044\u305f\u3088\u308a\u3082\u591a\u304f\u306e\u63a2\u67fb\u3084\u8a55\u4fa1\u6d3b\u52d5\u304c\u542b\u307e\u308c\u3066\u3044\u307e\u3059\u304c\u3001\u30ca\u30df\u30d3\u30a2\u304b\u3089\u30b3\u30ed\u30f3\u30d3\u30a2\u3001\u30a2\u30b8\u30a2\u306b\u81f3\u308b\u307e\u3067\u3001\u305d\u306e\u3088\u3046\u306a\u6d3b\u52d5\u3092\u76ee\u306b\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002\u30d6\u30e9\u30b8\u30eb\u306e\u5317\u3001\u5927\u897f\u6d0b\u5cb8\u3067\u306f\u8208\u5473\u6df1\u3044\u63a2\u9271\u304c\u884c\u308f\u308c\u3066\u3044\u307e\u3059\u3002\u8a55\u4fa1\u3068\u63a2\u9271\u304c\u52a0\u901f\u3055\u308c\u3001\u30aa\u30d5\u30b7\u30e7\u30a2\u74b0\u5883\u3067\u306e\u53d7\u76ca\u8005\u69cb\u6210\u304c\u5897\u52a0\u3057\u3066\u3044\u308b\u3068\u8a00\u3048\u308b\u3067\u3057\u3087\u3046\u30026\u6708\u306b\u958b\u50ac\u3055\u308c\u305f\u4f1a\u8b70\u3067\u3082\u7533\u3057\u4e0a\u3052\u307e\u3057\u305f\u304c\u3001\u3042\u3068\u5c11\u3057\u3067\u3059\u3002<\/p>\n<p>\u79c1\u305f\u3061\u306f\u3001\u30aa\u30d5\u30b7\u30e7\u30a2\u74b0\u5883\u304b\u3089\u5f97\u3089\u308c\u308b\u5e73\u5747\u7684\u306a\u53ce\u76ca\u5f37\u5ea6\u306f\u3001\u9678\u4e0a\u74b0\u5883\u304b\u3089\u5f97\u3089\u308c\u308b\u53ce\u76ca\u5f37\u5ea6\u306e5\u500d\u4ee5\u4e0a\u3067\u3042\u308b\u3068\u8003\u3048\u3066\u3044\u307e\u3059\u3002\u307e\u305f\u3001\u6d77\u5e95\u304b\u3089\u63a2\u67fb\u3001\u30c7\u30fc\u30bf\u30e9\u30a4\u30bb\u30f3\u30b9\u3001\u30ea\u30b0\u3084\u5751\u4e95\u306e\u5efa\u8a2d\u306b\u81f3\u308b\u307e\u3067\u3001\u975e\u5e38\u306b\u30e6\u30cb\u30fc\u30af\u306a\u4e8b\u696d\u5c55\u958b\u3092\u3057\u3066\u3044\u307e\u3059\u3002\u3053\u306e\u3088\u3046\u306b\u3001\u79c1\u305f\u3061\u306f\u975e\u5e38\u306b\u30e6\u30cb\u30fc\u30af\u306a\u5b58\u5728\u3067\u3042\u308a\u3001\u30aa\u30d5\u30b7\u30e7\u30a2\u306e\u898b\u901a\u3057\u304b\u3089\u307e\u3059\u307e\u3059\u6069\u6075\u3092\u53d7\u3051\u308b\u3053\u3068\u306b\u306a\u308b\u3067\u3057\u3087\u3046\u3002<\/p>\n<p>David Anderson &#8212; \u30d0\u30fc\u30af\u30ec\u30a4\u30ba &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u7d20\u6674\u3089\u3057\u3044\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002<\/p>\n<p>\u53f8\u4f1a<\/p>\n<p>\u6b21\u306e\u8cea\u554f\u306f\u3001\u30d0\u30f3\u30af\u30fb\u30aa\u30d6\u30fb\u30a2\u30e1\u30ea\u30ab\u306e\u30c1\u30a7\u30a4\u30b9\u30fb\u30de\u30eb\u30d9\u30d2\u30eb\u3067\u3059\u3002\u3069\u3046\u305e\u3088\u308d\u3057\u304f\u304a\u9858\u3044\u3057\u307e\u3059\u3002<\/p>\n<p>Chase Mulvehill &#8212; Bank of America Merrill Lynch &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u6b27\u5dde\u306e\u7686\u3055\u3093\u3001\u304a\u306f\u3088\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u56fd\u969b\u7684\u306a\u8a71\u984c\u306b\u623b\u308a\u3001James\u306e\u8cea\u554f\u306b\u5c11\u3057\u304a\u7b54\u3048\u3057\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002\u660e\u3089\u304b\u306b\u3001\u79c1\u305f\u3061\u306f\u4eca\u3001\u591a\u89d2\u7684\u30b5\u30fc\u30d3\u30b9\u4f01\u696d\u306e\u3046\u30613\u793e\u306e\u56fd\u969b\u7684\u306a\u696d\u7e3e\u3092\u898b\u3066\u304d\u307e\u3057\u305f\u3002<\/p>\n<p>\u3053\u306e3\u793e\u306e\u696d\u7e3e\u306f\u3044\u305a\u308c\u3082\u4e0a\u632f\u308c\u3057\u3066\u304a\u308a\u3001\u7b2c2\u56db\u534a\u671f\u306b\u5411\u3051\u3001\u79c1\u305f\u3061\u304c\u8003\u3048\u3066\u3044\u305f\u3088\u308a\u3082\u6d3b\u52d5\u304c\u6d3b\u767a\u5316\u3057\u3066\u3044\u308b\u3088\u3046\u306b\u611f\u3058\u3089\u308c\u307e\u3059\u3002\u3057\u304b\u3057\u3001\u56fd\u969b\u5e02\u5834\u5168\u4f53\u3067\u898b\u3089\u308c\u308b\u57fa\u672c\u7684\u306a\u903c\u8feb\u611f\u3084\u3001\u73fe\u6642\u70b9\u3067\u306e\u5e45\u5e83\u3044\u4fa1\u683c\u8a2d\u5b9a\u306b\u3064\u3044\u3066\u304a\u805e\u304b\u305b\u304f\u3060\u3055\u3044\u3002\u305d\u308c\u3068\u3082\u3001\u4fa1\u683c\u4e0a\u6607\u306e\u30dd\u30b1\u30c3\u30c8\u306e\u3088\u3046\u306a\u3082\u306e\u304c\u5897\u3048\u3066\u3044\u308b\u306e\u3067\u3057\u3087\u3046\u304b\u3002\u56fd\u969b\u7684\u306a\u4fa1\u683c\u8a2d\u5b9a\u306b\u3064\u3044\u3066\u5c11\u3057\u304a\u805e\u304b\u305b\u304f\u3060\u3055\u3044\u3002<\/p>\n<p>\u30aa\u30ea\u30d3\u30a8\u30fb\u30eb\u30fb\u30d7\u30fc\u30c1 &#8212; \u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005\uff08CEO<\/p>\n<p>\u3044\u3044\u3048\u3001\u6c7a\u5b9a\u7684\u306b\u5e83\u304c\u3063\u3066\u3044\u307e\u3059\u3002\u30aa\u30d5\u30b7\u30e7\u30a2\u306e\u30ea\u30b0\u306b\u642d\u8f09\u3055\u308c\u308b\u6a5f\u5668\u306e\u30d0\u30c3\u30af\u30a2\u30c3\u30d7\u3084\u4f7f\u7528\u671f\u9593\u3092\u8003\u616e\u3059\u308b\u3068\u3001\u4f9b\u7d66\u80fd\u529b\u304c\u4f4e\u4e0b\u3057\u3001\u4fa1\u683c\u5727\u529b\u3084\u4fa1\u683c\u4e0a\u6607\u304c\u767a\u751f\u3057\u3066\u3044\u308b\u306e\u3067\u3059\u3002\u65e2\u5b58\u306e\u5951\u7d04\u3067\u306f\u3001\u65b0\u898f\u306e\u5165\u672d\u3067\u30a4\u30f3\u30d5\u30ec\u3092\u76f8\u6bba\u3059\u308b\u3088\u3046\u306a\u4ea4\u6e09\u304c\u53ef\u80fd\u3067\u3059\u3057\u3001\u76f4\u63a5\u53d7\u6ce8\u3067\u306f\u3001\u9867\u5ba2\u304c\u5c06\u6765\u306e\u80fd\u529b\u3092\u78ba\u4fdd\u3057\u305f\u3044\u3001\u6280\u8853\u3092\u78ba\u4fdd\u3057\u305f\u3044\u3001\u3068\u3044\u3063\u305f\u30cb\u30fc\u30ba\u304c\u3042\u308a\u307e\u3059\u3002\u9867\u5ba2\u306f\u6027\u80fd\u3092\u78ba\u4fdd\u3057\u305f\u3044\u306e\u3067\u3001\u65e2\u5b58\u306e\u7bc4\u56f2\u3067\u306e\u4fa1\u683c\u5897\u984d\u3092\u53d7\u3051\u5165\u308c\u3001\u76f4\u63a5\u4ea4\u6e09\u3057\u3066\u3044\u308b\u306e\u3067\u3059\u3002<\/p>\n<p>\u3067\u3059\u304b\u3089\u3001\u79c1\u305f\u3061\u306f\u3053\u306e\u6069\u6075\u3092\u53d7\u3051\u3066\u3044\u307e\u3059\u3002\u4fa1\u683c\u74b0\u5883\u306f\u9593\u9055\u3044\u306a\u304f\u62e1\u5927\u3057\u3001\u6539\u5584\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u4eca\u5f8c\u3001\u56fd\u969b\u7684\u306a\u6295\u8cc7\u304c\u4e0b\u534a\u671f\u306b\u52a0\u901f\u3057\u3001\u4e0b\u534a\u671f\u306e\u56fd\u969b\u7684\u306a\u6210\u9577\u7387\u304c\u5317\u7c73\u306e\u6210\u9577\u7387\u3092\u4e0a\u56de\u308b\u3068\u4e88\u60f3\u3055\u308c\u308b\u305f\u3081\u3001\u4fa1\u683c\u74b0\u5883\u306e\u5e95\u4e0a\u3052\u3068\u9ad8\u63da\u304c\u9032\u3080\u3068\u898b\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>Chase Mulvehill &#8212; \u30d0\u30f3\u30af\u30aa\u30d6\u30a2\u30e1\u30ea\u30ab\u30fb\u30e1\u30ea\u30eb\u30ea\u30f3\u30c1 &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u305d\u3046\u3067\u3059\u306d\u3001\u3059\u3079\u3066\u7d0d\u5f97\u3067\u3059\u3002\u95a2\u9023\u3059\u308b\u30d5\u30a9\u30ed\u30fc\u30a2\u30c3\u30d7\u3068\u3057\u3066\u3001\u4f1a\u793e\u306e\u6700\u7d42\u7684\u306a\u53ce\u76ca\u529b\u306b\u3064\u3044\u3066\u304a\u805e\u304b\u305b\u304f\u3060\u3055\u3044\u3002EBITDA\u306e\u30ac\u30a4\u30c0\u30f3\u30b9\u3092\u304a\u793a\u3057\u3044\u305f\u3060\u3044\u305f\u306e\u306f\u660e\u3089\u304b\u3067\u3059\u3002\u4eca\u5e74\u306e\u53ce\u76ca\u306b\u3064\u3044\u3066\u8003\u3048\u308b\u3068\u3001\u524d\u671f\u306e\u30d4\u30fc\u30af\u3092\u4e0a\u56de\u308b\u3053\u3068\u306b\u306a\u308b\u3067\u3057\u3087\u3046\u3002\u3057\u304b\u3057\u3001\u4eca\u671f\u306e\u30b7\u30e5\u30eb\u30f3\u30d9\u30eb\u30b8\u30a7\u306e\u53ce\u76ca\u529b\u3092\u3069\u306e\u3088\u3046\u306b\u8a55\u4fa1\u3059\u3079\u304d\u3067\u3057\u3087\u3046\u304b\uff1f\u305d\u308c\u304b\u3089\u3001EBITDA\u30de\u30fc\u30b8\u30f3\u306b\u95a2\u3059\u308b\u8b70\u8ad6\u3068\u300123\u5e74\u672b\u306e\u76ee\u6a19\u3068\u3057\u3066\u63b2\u3052\u3066\u3044\u305f\u4e2d\u671f\u7684\u306a\u30de\u30fc\u30b8\u30f325%\u306e\u9054\u6210\u306b\u3064\u3044\u3066\u306e\u78ba\u4fe1\u306b\u3064\u3044\u3066\u3001\u304a\u805e\u304b\u305b\u304f\u3060\u3055\u3044\u3002<\/p>\n<p>\u30de\u30fc\u30b8\u30f3\u9762\u3067\u30a2\u30a6\u30c8\u30d1\u30d5\u30a9\u30fc\u30e0\u3057\u3066\u3044\u308b\u4eca\u3001\u3053\u306e\u76ee\u6a19\u3092\u3082\u3046\u5c11\u3057\u65e9\u304f\u9054\u6210\u3067\u304d\u308b\u3068\u304a\u8003\u3048\u3067\u3057\u3087\u3046\u304b\uff1f<\/p>\n<p>\u30aa\u30ea\u30d3\u30a8\u30fb\u30eb\u30fb\u30d7\u30fc\u30c1 &#8212; \u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005<\/p>\n<p>\u524d\u306b\u3082\u7533\u3057\u4e0a\u3052\u307e\u3057\u305f\u304c\u3001\u79c1\u305f\u3061\u304c\u4eca\u5f8c\u306e\u30de\u30fc\u30b8\u30f3\u8ecc\u9053\u306e\u53ce\u76ca\u529b\u306b\u81ea\u4fe1\u3092\u6301\u3063\u3066\u3044\u308b\u7406\u7531\u306f\u30012\u3064\u30013\u3064\u3042\u308b\u3068\u601d\u3044\u307e\u3059\u30021\u3064\u76ee\u306f\u3001\u5317\u7c73\u306e\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306b\u9ad8\u3044\u30b0\u30ec\u30fc\u30c9\u304c\u3042\u3063\u305f\u3053\u3068\u3067\u3001\u5317\u7c73\u306e\u30de\u30fc\u30b8\u30f3\u304c\u5feb\u9069\u306b\u306a\u308a\u3001\u7af6\u4e89\u529b\u3068\u53ce\u76ca\u529b\u304c\u9ad8\u307e\u3063\u305f\u3053\u3068\u3067\u3059\u30022\u3064\u76ee\u306f\u30012\u5e74\u524d\u306b\u55b6\u696d\u30ec\u30d0\u30ec\u30c3\u30b8\u3092\u5927\u5e45\u306b\u8abf\u6574\u3057\u305f\u3053\u3068\u3067\u3001\u4e8b\u696d\u3092\u62e1\u5927\u30fb\u6210\u9577\u3055\u305b\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3057\u305f\u3002<\/p>\n<p>\u7b2c\u4e09\u306b\u3001\u5317\u7c73\u3067\u3059\u3067\u306b\u9855\u8457\u306b\u306a\u3063\u3066\u3044\u308b\u4f9b\u7d66\u4e0d\u8db3\u3068\u3001\u5148\u307b\u3069\u7533\u3057\u4e0a\u3052\u305f\u3088\u3046\u306b\u56fd\u969b\u7684\u306b\u62e1\u5927\u3057\u3066\u3044\u308b\u6027\u80fd\u3001\u6280\u8853\u6027\u80fd\u3001\u7d71\u5408\u6027\u80fd\u306e\u5dee\u5225\u5316\u3068\u306e\u7d44\u307f\u5408\u308f\u305b\u304c\u3001\u3055\u3089\u306a\u308b\u30d7\u30ec\u30df\u30a2\u30e0\u3092\u751f\u307f\u51fa\u3057\u3001\u305d\u308c\u304c\u5f53\u793e\u306e\u53ce\u76ca\u306b\u3064\u306a\u304c\u308b\u3068\u4fe1\u3058\u3066\u3044\u307e\u3059\u3002\u3067\u3059\u304b\u3089\u3001\u30aa\u30d5\u30b7\u30e7\u30a2\u3092\u542b\u3080\u30df\u30c3\u30af\u30b9\u306e\u898b\u901a\u3057\u3092\u7acb\u3066\u3066\u3044\u307e\u3059\u3002\u307e\u305f\u3001\u6280\u8853\u3084\u7d71\u5408\u306e\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u3082\u5dee\u5225\u5316\u3055\u308c\u3066\u304a\u308a\u3001\u3055\u3089\u306b\u3001\u5fa1\u793e\u304c\u884c\u3063\u3066\u304d\u305f\u4e8b\u696d\u8cc7\u7523\u3068\u3001\u5f53\u793e\u304c\u884c\u3063\u305f\u30cf\u30a4\u30b0\u30ec\u30fc\u30c7\u30a3\u30f3\u30b0\u306b\u3088\u3063\u3066\u3001\u57fa\u76e4\u304c\u6574\u3044\u307e\u3057\u305f\u3002\u3053\u308c\u306b\u30c7\u30b8\u30bf\u30eb\u6280\u8853\u304c\u3082\u305f\u3089\u3059\u4e0a\u4e57\u305b\u52b9\u679c\u3092\u52a0\u5473\u3059\u308b\u3068\u3001\u30de\u30fc\u30b8\u30f3\u306f\u5927\u5e45\u306b\u6539\u5584\u3055\u308c\u307e\u3059\u3002<\/p>\n<p>\u6765\u5e74\u306b\u306fEBITDA\u30de\u30fc\u30b8\u30f3\u304c25%\u306b\u306a\u308b\u3068\u4e88\u60f3\u3057\u3066\u3044\u307e\u3057\u305f\u304c\u3001\u3053\u306e\u76ee\u6a19\u306b\u306f\u307e\u3060\u81ea\u4fe1\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>Chase Mulvehill &#8212; Bank of America Merrill Lynch &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u305d\u3046\u3067\u3059\u304b\u3002\u5b8c\u74a7\u3067\u3059\u3002\u3067\u306f\u3001\u8a71\u3092\u623b\u3057\u307e\u3059\u3002\u3042\u308a\u304c\u3068\u3046\u3001\u30aa\u30ea\u30d3\u30a8\u3002<\/p>\n<p>\u30aa\u30ea\u30d3\u30a8\u30fb\u30eb\u30fb\u30d7\u30fc\u30c1 &#8212; \u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005<\/p>\n<p>\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002<\/p>\n<p>\u30aa\u30da\u30ec\u30fc\u30bf\u30fc<\/p>\n<p>\u6b21\u306b\u3001JP\u30e2\u30eb\u30ac\u30f3\u306e\u30a2\u30eb\u30f3\u30fb\u30b8\u30e3\u30e4\u30e9\u30e0\u304b\u3089\u8cea\u554f\u304c\u3042\u308a\u307e\u3059\u3002\u3069\u3046\u305e\u3088\u308d\u3057\u304f\u304a\u9858\u3044\u3057\u307e\u3059\u3002<\/p>\n<p>Arun Jayaram &#8212; J.P. Morgan &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u304a\u306f\u3088\u3046\u3054\u3056\u3044\u307e\u3059\u3001\u30aa\u30ea\u30f4\u30a3\u30a8\u3067\u3059\u3002\u660e\u3089\u304b\u306b\u3001\u5370\u5237\u306b\u5411\u304b\u3046\u30ed\u30b7\u30a2\u306b\u95a2\u3059\u308b\u3044\u304f\u3064\u304b\u306e\u61f8\u5ff5\u304c\u3042\u308a\u307e\u3059\u3002\u3057\u304b\u3057\u3001\u30ed\u30b7\u30a2\u306e\u53ce\u76ca\u304c\u6e1b\u5c11\u3057\u305f\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001\u6b27\u5dde\/CIS\/\u30a2\u30d5\u30ea\u30ab\u3067\u30c8\u30c3\u30d7\u30e9\u30a4\u30f3\u304c\u524d\u56db\u534a\u671f\u6bd420\uff05\u5897\u3068\u306a\u3063\u305f\u8981\u56e0\u306b\u3064\u3044\u3066\u3001\u3082\u3046\u5c11\u3057\u8a73\u3057\u304f\u6559\u3048\u3066\u3044\u305f\u3060\u3051\u307e\u305b\u3093\u304b\uff1f<\/p>\n<p>\u30aa\u30ea\u30d3\u30a8\u30fb\u30eb\u30fb\u30d7\u30fc\u30c1 &#8212; \u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005<\/p>\n<p>\u897f\u30a2\u30d5\u30ea\u30ab\u3068\u30e8\u30fc\u30ed\u30c3\u30d1\u3068\u30b9\u30ab\u30f3\u30b8\u30ca\u30d3\u30a2\u306b\u3042\u308b\u8907\u6570\u306e\u30e6\u30cb\u30c3\u30c8\u3092\u57fa\u76e4\u3068\u3057\u3066\u3001\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u306e\u30bf\u30a4\u30df\u30f3\u30b0\u3084\u3001\u90e8\u5206\u7684\u306b\u751f\u7523\u30b7\u30b9\u30c6\u30e0\u306e\u6069\u6075\u3092\u53d7\u3051\u3066\u3001\u5927\u5e45\u306a\u524d\u5012\u3057\u6210\u9577\u3092\u5b9f\u73fe\u3057\u3066\u3044\u307e\u3059\u306d\u3002\u305d\u306e\u5927\u90e8\u5206\u306f\u30e8\u30fc\u30ed\u30c3\u30d1\u3067\u767a\u751f\u3057\u307e\u3057\u305f\u3002\u30aa\u30d5\u30b7\u30e7\u30a2\u30d6\u30e9\u30f3\u30c9\u3082\u540c\u69d8\u3067\u3059\u3002\u30aa\u30d5\u30b7\u30e7\u30a2\u30d6\u30e9\u30f3\u30c9\u3082\u540c\u69d8\u3067\u3001\u3053\u306e\u5730\u57df\u3067\u306f\u30aa\u30d5\u30b7\u30e7\u30a2\u30d6\u30e9\u30f3\u30c9\u304c\u56de\u5fa9\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u305d\u3057\u3066\u3053\u308c\u306f\u3001\u79c1\u305f\u3061\u306e\u696d\u7e3e\u3078\u306e\u63a2\u6c42\u3092\u542b\u3081\u3066\u3001\u975e\u5e38\u306b\u6709\u76ca\u306a\u3082\u306e\u3068\u306a\u3063\u3066\u3044\u307e\u3059\u3002\u3053\u306e\u3088\u3046\u306b\u3001\u79c1\u305f\u3061\u306f\u304b\u306a\u308a\u5927\u304d\u306a\u6210\u9577\u3092\u9042\u3052\u3066\u304a\u308a\u3001\u4eca\u5f8c\u6570\u56db\u534a\u671f\u306b\u308f\u305f\u3063\u3066\u3053\u306e\u6210\u9577\u304c\u8870\u3048\u308b\u3053\u3068\u306f\u306a\u3044\u3068\u8003\u3048\u3066\u3044\u307e\u3059\u3002\u3067\u3059\u304b\u3089\u3001\u6765\u5e74\u306f\u30a2\u30d5\u30ea\u30ab\u3001\u30e8\u30fc\u30ed\u30c3\u30d1\u3001\u30b9\u30ab\u30f3\u30b8\u30ca\u30d3\u30a2\u3067\u306e\u30aa\u30d5\u30b7\u30e7\u30a2\u4e8b\u696d\u304c\u3055\u3089\u306b\u52a0\u901f\u3057\u3001\u30ed\u30b7\u30a2\u306e\u898b\u901a\u3057\u3067\u76f4\u9762\u3057\u3066\u3044\u308b\u30ea\u30b9\u30af\u3092\u88dc\u3063\u3066\u4f59\u308a\u3042\u308b\u3082\u306e\u306b\u306a\u308b\u3068\u8003\u3048\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>Arun Jayaram &#8212; J.P.\u30e2\u30eb\u30ac\u30f3 &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u7d20\u6674\u3089\u3057\u3044\u3002\u7d20\u6674\u3089\u3057\u3044\u3002\u7d9a\u3044\u3066\u3001\u30aa\u30ea\u30d3\u30a8\u304b\u3089\u3001\u30b7\u30e5\u30eb\u30f3\u30d9\u30eb\u30b8\u30a7\u304c11\u6708\u306b\u6295\u8cc7\u5bb6\u5411\u3051\u8aac\u660e\u4f1a\u3092\u958b\u50ac\u3059\u308b\u3068\u3044\u3046\u8a71\u304c\u3042\u308a\u307e\u3057\u305f\u306d\u3002\u3053\u306e\u30a4\u30d9\u30f3\u30c8\u306e\u76ee\u7684\u306b\u3064\u3044\u3066\u304a\u805e\u304b\u305b\u3044\u305f\u3060\u3051\u307e\u3059\u304b\uff1f\u307e\u305f\u3001\u305d\u306e\u969b\u306b\u6295\u8cc7\u5bb6\u306b\u4f55\u3092\u7d39\u4ecb\u3057\u3001\u5f37\u8abf\u3057\u305f\u3044\u3067\u3059\u304b\uff1f<\/p>\n<p>\u30aa\u30ea\u30d3\u30a8\u30fb\u30eb\u30fb\u30d7\u30fc\u30c1 &#8212; \u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005<\/p>\n<p>\u3053\u306e\u70b9\u306b\u3064\u3044\u3066\u306f\u3001\u524d\u56de\u306e\u96fb\u8a71\u4f1a\u8b70\u3067\u30b3\u30e1\u30f3\u30c8\u3057\u305f\u3068\u601d\u3044\u307e\u3059\u3002\u3053\u306e\u30a4\u30d9\u30f3\u30c8\u306f\u3001\u6295\u8cc7\u5bb6\u3084\u30a2\u30ca\u30ea\u30b9\u30c8\u3092\u62db\u3044\u3066\u3001\u307e\u305a\u30b5\u30a4\u30af\u30eb\u306b\u5bfe\u3059\u308b\u79c1\u305f\u3061\u306e\u898b\u89e3\u3001\u3053\u306e\u30b5\u30a4\u30af\u30eb\u3092\u5b9f\u884c\u3059\u308b\u305f\u3081\u306e\u6226\u7565\u3001\u305d\u3057\u3066\u30b3\u30a2\u3068\u30c7\u30b8\u30bf\u30eb\u3068\u65b0\u30a8\u30cd\u30eb\u30ae\u30fc\u3078\u306e\u6295\u8cc7\u3092\u57fa\u306b\u3057\u305f\u3001\u4f1a\u793e\u306b\u5bfe\u3059\u308b\u79c1\u305f\u3061\u306e\u9577\u671f\u7684\u306a\u91ce\u671b\u306b\u3064\u3044\u3066\u30a2\u30c3\u30d7\u30c7\u30fc\u30c8\u3059\u308b\u305f\u3081\u306e\u3082\u306e\u3060\u3068\u8003\u3048\u3066\u3044\u307e\u3059\u3002\u305d\u3053\u3067 \u305d\u3057\u3066\u3001\u30c6\u30af\u30ce\u30ed\u30b8\u30fc\u3068\u3001\u79c1\u305f\u3061\u306e\u6226\u7565\u306e\u4e00\u7aef\u3092\u898b\u3066\u3044\u305f\u3060\u304d\u3001\u79c1\u305f\u3061\u306e\u30de\u30af\u30ed\u7684\u306a\u8996\u70b9\u3068\u4f1a\u793e\u306e\u9577\u671f\u7684\u306a\u91ce\u671b\u3092\u7686\u3055\u3093\u306b\u304a\u4f1d\u3048\u3057\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n<p>Arun Jayaram &#8212; J.P.\u30e2\u30eb\u30ac\u30f3 &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u7d20\u6674\u3089\u3057\u3044\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002<\/p>\n<p>\u30aa\u30ea\u30d3\u30a8\u30fb\u30eb\u30fb\u30d7\u30fc\u30c1 &#8212; \u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005<\/p>\n<p>\u3088\u3046\u3053\u305d\u3002<\/p>\n<p>\u30aa\u30da\u30ec\u30fc\u30bf\u30fc<\/p>\n<p>\u6b21\u306e\u8cea\u554f\u306f\u30b4\u30fc\u30eb\u30c9\u30de\u30f3\u30fb\u30b5\u30c3\u30af\u30b9\u306e\u30cb\u30fc\u30eb\u30fb\u30df\u30fc\u30bf\u3055\u3093\u304b\u3089\u3067\u3059\u3002\u3069\u3046\u305e\u3088\u308d\u3057\u304f\u304a\u9858\u3044\u3057\u307e\u3059\u3002<\/p>\n<p>Neil Mehta &#8212; Goldman Sachs &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u304a\u306f\u3088\u3046\u3054\u3056\u3044\u307e\u3059\u3001\u30c1\u30fc\u30e0\u306e\u7686\u3055\u3093\u3002<\/p>\n<p>\u30aa\u30ea\u30d3\u30a8\u30fb\u30eb\u30fb\u30d7\u30fc\u30c1 &#8212; \u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005<\/p>\n<p>\u304a\u306f\u3088\u3046\u3054\u3056\u3044\u307e\u3059\u3002<\/p>\n<p>Neil Mehta &#8212; Goldman Sachs &#8212; Analyst<\/p>\n<p>\u304a\u306f\u3088\u3046\u3054\u3056\u3044\u307e\u3059\u3001\u30aa\u30ea\u30f4\u30a3\u30a8\u3002\u6700\u521d\u306e\u8cea\u554f\u306f\u3001\u30ab\u30ca\u30c0\u306eAPS\u8cc7\u7523\u306b\u95a2\u3059\u308b\u3082\u306e\u3067\u3059\u304c\u3001\u305d\u308c\u306b\u3064\u3044\u3066\u3069\u3046\u304a\u8003\u3048\u3067\u3059\u304b\uff1f\u307e\u3060\u58f2\u5374\u3092\u691c\u8a0e\u3057\u3066\u3044\u308b\u306e\u3067\u3057\u3087\u3046\u304b\uff1f\u305d\u308c\u3068\u3082\u3001\u30de\u30af\u30ed\u74b0\u5883\u3092\u8003\u3048\u308b\u3068\u3001\u8003\u3048\u65b9\u304c\u5909\u308f\u3063\u3066\u304d\u305f\u306e\u3067\u3057\u3087\u3046\u304b\uff1f\u307e\u305f\u3001Liberty\u306e\u30dd\u30b8\u30b7\u30e7\u30f3\u306e\u53ce\u76ca\u5316\u306b\u3064\u3044\u3066\u3082\u3001\u540c\u69d8\u306b\u8003\u3048\u3066\u3044\u307e\u3059\u3002\u30b7\u30e5\u30eb\u30f3\u30d9\u30eb\u30b8\u30a7\u306f\u4eca\u5f8c\u3082\u64a4\u9000\u3092\u691c\u8a0e\u3059\u308b\u3068\u8003\u3048\u305f\u65b9\u304c\u3044\u3044\u306e\u3067\u3057\u3087\u3046\u304b\uff1f<\/p>\n<p>\u30b9\u30c6\u30d5\u30a1\u30f3\u30fb\u30d3\u30b0\u30a8\uff08\u6700\u9ad8\u8ca1\u52d9\u8cac\u4efb\u8005<\/p>\n<p>\u30b9\u30c6\u30d5\u30a1\u30f3\u3067\u3059\u3002\u30ab\u30ca\u30c0\u306ePalliser\u3001\u3064\u307e\u308aAPS\u306e\u8cc7\u7523\u3067\u3059\u304c\u3001\u3053\u306e\u8cc7\u7523\u306e\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u306b\u306f\u975e\u5e38\u306b\u6e80\u8db3\u3057\u3066\u3044\u307e\u3059\u3002\u5b9f\u969b\u3001\u3053\u306e\u8cc7\u7523\u306f\u975e\u5e38\u306b\u5f37\u529b\u306a\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u751f\u307f\u51fa\u3057\u3066\u3044\u307e\u3059\u3002\u7d20\u6674\u3089\u3057\u3044\u8cc7\u7523\u3067\u3042\u308a\u3001\u73fe\u5728\u3001\u6700\u5927\u9650\u306b\u6d3b\u7528\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u30ea\u30d0\u30c6\u30a3\u306b\u3064\u3044\u3066\u306f\u3001\u7b2c2\u56db\u534a\u671f\u306b\u5e02\u5834\u74b0\u5883\u304c\u826f\u304b\u3063\u305f\u3053\u3068\u304b\u3089\u3001\u6295\u8cc7\u306e\u5927\u90e8\u5206\u3092\u53ce\u76ca\u5316\u3059\u308b\u3053\u3068\u3092\u6c7a\u5b9a\u3057\u307e\u3057\u305f\u3002\u3067\u3059\u304b\u3089\u3001\u73fe\u5728\u3001\u79c1\u305f\u3061\u304c\u4fdd\u6709\u3057\u3066\u3044\u308b\u682a\u5f0f\u306f12%\u306b\u3059\u304e\u307e\u305b\u3093\u3002\u4eca\u5f8c\u3082\u6295\u8cc7\u72b6\u6cc1\u3092\u898b\u306a\u304c\u3089\u3001\u5148\u307b\u3069\u3068\u540c\u3058\u3088\u3046\u306b\u5e02\u5834\u306e\u72b6\u6cc1\u306b\u5fdc\u3058\u3066\u3001\u3055\u3089\u306a\u308b\u30de\u30cd\u30bf\u30a4\u30ba\u3092\u6c7a\u5b9a\u3057\u3066\u3044\u304d\u307e\u3059\u3002<\/p>\n<p>Neil Mehta &#8212; \u30b4\u30fc\u30eb\u30c9\u30de\u30f3\u30fb\u30b5\u30c3\u30af\u30b9 &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u308f\u304b\u308a\u307e\u3057\u305f\u3002\u305d\u308c\u306f\u3044\u3044\u3053\u3068\u3067\u3059\u3002\u53c2\u8003\u306b\u306a\u308a\u307e\u3057\u305f\u3002\u305d\u308c\u304b\u3089\u30012\u3064\u76ee\u306f\u54f2\u5b66\u7684\u306a\u8cea\u554f\u3067\u3059\u3002<\/p>\n<p>\u30b7\u30e5\u30e9\u30f3\u30d0\u30fc\u30ac\u30fc\u306f\u73fe\u5728\u3001\u4e8b\u696d\u304c\u9069\u5207\u306a\u91cf\u306e\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u751f\u307f\u51fa\u3057\u3001\u305d\u306e\u30d5\u30ea\u30fc\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u304c\u6210\u9577\u3059\u308b\u898b\u901a\u3057\u304c\u7acb\u3064\u3068\u3053\u308d\u307e\u3067\u6765\u3066\u3044\u307e\u3059\u3002\u8cc7\u672c\u5229\u76ca\u7387\u306b\u3064\u3044\u3066\u3069\u306e\u3088\u3046\u306b\u304a\u8003\u3048\u3067\u3059\u304b\uff1f\u307e\u305f\u3001\u305d\u306e\u8cc7\u672c\u9084\u5143\u306e\u65b9\u6cd5\u3068\u3057\u3066\u3001\u81ea\u793e\u682a\u8cb7\u3044\u3084\u914d\u5f53\u304c\u6700\u3082\u52b9\u679c\u7684\u3060\u3068\u304a\u8003\u3048\u3067\u3059\u304b\uff1f<\/p>\n<p>\u30b9\u30c6\u30d5\u30a1\u30f3\u30fb\u30d3\u30b0\u30a8\uff08\u6700\u9ad8\u8ca1\u52d9\u8cac\u4efb\u8005<\/p>\n<p>\u3082\u3061\u308d\u3093\u3067\u3059\u3002\u307e\u305a\u3001\u3054\u5b58\u77e5\u306e\u3088\u3046\u306b\u30017\u6708\u306e\u914d\u5f53\u304b\u308940\uff05\u5897\u914d\u3057\u307e\u3057\u305f\u306e\u3067\u3001\u3053\u308c\u306f\u3053\u306e\u6210\u9577\u30b5\u30a4\u30af\u30eb\u306b\u304a\u3051\u308b\u682a\u4e3b\u3078\u306e\u9084\u5143\u3092\u5897\u3084\u3059\u305f\u3081\u306e\u6700\u521d\u306e\u30b9\u30c6\u30c3\u30d7\u3068\u306a\u308a\u307e\u3057\u305f\u3002\u3053\u306e\u6210\u9577\u30b5\u30a4\u30af\u30eb\u306e\u4e2d\u3067\u3001\u5229\u76ca\u3068\u30ad\u30e3\u30c3\u30b7\u30e5\u30fb\u30d5\u30ed\u30fc\u304c\u6210\u9577\u3092\u7d9a\u3051\u308b\u4e2d\u3067\u3001\u682a\u4e3b\u9084\u5143\u3092\u5897\u3084\u3059\u305f\u3081\u306e\u6a5f\u4f1a\u3092\u5e38\u306b\u691c\u8a0e\u3057\u3066\u3044\u304d\u307e\u3059\u3002\u305d\u3057\u3066\u3001\u914d\u5f53\u91d1\u306e\u5897\u984d\u307e\u305f\u306f\u81ea\u793e\u682a\u8cb7\u3044\u306e\u3044\u305a\u308c\u304b\u3092\u5b9f\u65bd\u3059\u308b\u4e88\u5b9a\u3067\u3059\u3002<\/p>\n<p>\u307e\u305f\u3001\u7d99\u7d9a\u7684\u306a\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e\u30cf\u30a4\u30b0\u30ec\u30fc\u30c7\u30a3\u30f3\u30b0\u30fb\u30d7\u30ed\u30b0\u30e9\u30e0\u304b\u3089\u5f97\u3089\u308c\u308b\u30ad\u30e3\u30c3\u30b7\u30e5\u30fb\u30d5\u30ed\u30fc\u306f\u975e\u5e38\u306b\u5927\u304d\u3044\u306e\u3067\u3001\u3055\u3089\u306a\u308b\u9078\u629e\u80a2\u3092\u63d0\u4f9b\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002\u914d\u5f53\u3068\u81ea\u793e\u682a\u8cb7\u3044\u306e\u3069\u3061\u3089\u3092\u9078\u629e\u3059\u308b\u304b\u306f\u3001\u3044\u305a\u308c\u6c7a\u5b9a\u3059\u308b\u4e88\u5b9a\u3067\u3059\u3002\u3082\u3061\u308d\u3093\u3001\u914d\u5f53\u306f\u9577\u671f\u7684\u306b\u6301\u7d9a\u53ef\u80fd\u306a\u3082\u306e\u3067\u306a\u3051\u308c\u3070\u306a\u308a\u307e\u305b\u3093\u304c\u3001\u81ea\u793e\u682a\u8cb7\u3044\u3082\u305d\u306e\u4e00\u90e8\u3068\u306a\u308b\u3067\u3057\u3087\u3046\u3002<\/p>\n<p>Neil Mehta &#8212; Goldman Sachs &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002<\/p>\n<p>\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002<\/p>\n<p>\u30aa\u30da\u30ec\u30fc\u30bf\u30fc<\/p>\n<p>\u6b21\u306e\u8cea\u554f\u306f\u3001\u30b7\u30c6\u30a3\u30b0\u30eb\u30fc\u30d7\u306e\u30b9\u30b3\u30c3\u30c8\u30fb\u30b0\u30eb\u30fc\u30d0\u30fc\u304b\u3089\u3067\u3059\u3002\u3069\u3046\u305e\u3088\u308d\u3057\u304f\u304a\u9858\u3044\u3057\u307e\u3059\u3002<\/p>\n<p>\u30b9\u30b3\u30c3\u30c8\u30fb\u30b0\u30eb\u30fc\u30d0\u30fc &#8212; \u30b7\u30c6\u30a3 &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u306f\u3044\u3002\u3053\u3093\u306b\u3061\u306f\u3002\u3053\u3093\u306b\u3061\u306f\u3002\u3054\u6307\u6458\u306e\u901a\u308a\u3001\u5e02\u5834\u5168\u4f53\u3067\u306f\u666f\u6c17\u5f8c\u9000\u3078\u306e\u61f8\u5ff5\u304c\u9ad8\u307e\u3063\u3066\u304a\u308a\u3001\u305d\u308c\u304c\u539f\u6cb9\u3084\u682a\u4fa1\u306b\u91cd\u304f\u306e\u3057\u304b\u304b\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u3057\u304b\u3057\u3001\u30aa\u30ea\u30d3\u30a8\u3001\u3042\u306a\u305f\u304c\u8a00\u3063\u305f\u3088\u3046\u306b\u3001\u3053\u3053\u306b\u306f\u6210\u9577\u898b\u901a\u3057\u306b\u5bfe\u3059\u308b\u5927\u304d\u306a\u56de\u5fa9\u529b\u304c\u3042\u308b\u3088\u3046\u3067\u3059\u3002\u3057\u304b\u3057\u3001\u6c17\u306b\u306a\u308b\u306e\u306f\u3001\u6570\u5e74\u306b\u308f\u305f\u308b2\u6841\u53f0\u306e\u56de\u5fa9\u304c\u5371\u3046\u304f\u306a\u308b\u306e\u306f\u3001\u3060\u3044\u305f\u3044\u3069\u306e\u7a0b\u5ea6\u306e\u539f\u6cb9\u4fa1\u683c\u3060\u3068\u304a\u8003\u3048\u3067\u3057\u3087\u3046\u304b\uff1f\u73fe\u5728\u306e\u4fa1\u683c\u3068\u305d\u306e\u53ef\u80fd\u6027\u306e\u3042\u308b\u4fa1\u683c\u3068\u306e\u9593\u306b\u306f\u3001\u304b\u306a\u308a\u5927\u304d\u306a\u7de9\u885d\u6750\u304c\u3042\u308b\u3088\u3046\u306b\u601d\u308f\u308c\u307e\u3059\u3002\u91cd\u8981\u306a\u3053\u3068\u3060\u3068\u601d\u3046\u306e\u3067\u3059\u304c\u3001\u3069\u3046\u304a\u8003\u3048\u3067\u3059\u304b\uff1f<\/p>\n<p>\u30aa\u30ea\u30d3\u30a8\u30fb\u30eb\u30fb\u30d7\u30fc\u30c1 &#8212; \u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005<\/p>\n<p>\u307e\u305a\u3001\u79c1\u305f\u3061\u306f\u4eca\u3001\u4f9b\u7d66\u4e3b\u5c0e\u306e\u6642\u4ee3\u3092\u751f\u304d\u3066\u3044\u308b\u3068\u601d\u3044\u307e\u3059\u3002\u3053\u308c\u306f\u975e\u5e38\u306b\u73cd\u3057\u3044\u3053\u3068\u3067\u3001\u9700\u8981\u4f9b\u7d66\u306e\u30d0\u30e9\u30f3\u30b9\u306b\u5411\u3051\u3066\u56de\u5fa9\u3059\u308b\u307e\u3067\u306b\u306f\u6642\u9593\u304c\u304b\u304b\u308b\u3068\u601d\u3044\u307e\u3059\u3002\u3067\u3059\u304b\u3089\u3001\u4eca\u5f8c\u6570\u56db\u534a\u671f\u306f\u3001\u30a8\u30cd\u30eb\u30ae\u30fc\u4f9b\u7d66\u306b\u95a2\u3059\u308b\u30ea\u30b9\u30af\u3078\u306e\u904e\u5ea6\u306a\u9732\u51fa\u3092\u907f\u3051\u308b\u305f\u3081\u306b\u3001\u5341\u5206\u306a\u4e88\u5099\u80fd\u529b\u3092\u88dc\u5145\u3057\u3001\u78ba\u4fdd\u3059\u308b\u5fc5\u8981\u304c\u3042\u308b\u3068\u601d\u3044\u307e\u3059\u3002\u3057\u304b\u3057\u3001\u30a8\u30cd\u30eb\u30ae\u30fc\u5b89\u5168\u4fdd\u969c\u306e\u554f\u984c\u304c\u30af\u30ea\u30a2\u306b\u306a\u308a\u3064\u3064\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>\u307e\u305f\u3001\u9700\u8981\u306e\u65b0\u305f\u306a\u7279\u6027\u3067\u3042\u308b\u30c0\u30d6\u30eb\u30bd\u30fc\u30b7\u30f3\u30b0\u306f\u3001\u4f9b\u7d66\u304c\u500d\u5897\u3059\u308b\u3053\u3068\u3067\u3059\u3002\u3067\u3059\u304b\u3089\u3001\u79c1\u898b\u3067\u3059\u304c\u3001\u30d0\u30c3\u30d5\u30a1\u30fc\u306f\u304b\u306a\u308a\u5927\u304d\u3044\u3068\u601d\u3044\u307e\u3059\u3002\u3057\u305f\u304c\u3063\u3066\u3001\u77ed\u671f\u7684\u306b\u306f\u3001\u4eca\u5f8c\u306e\u9700\u8981\u306e\u4f38\u3073\u3092\u6e1b\u901f\u3055\u305b\u305f\u308a\u5909\u7bc0\u3055\u305b\u305f\u308a\u3059\u308b\u30ea\u30b9\u30af\u306f\u3042\u308a\u307e\u3059\u304c\u3001\u30c7\u30ab\u30c3\u30d7\u30ea\u30f3\u30b0\u304c\u9032\u307f\u3001\u6295\u8cc7\u30b5\u30a4\u30af\u30eb\u306b\u5f3e\u529b\u6027\u304c\u51fa\u3066\u304d\u3066\u3044\u308b\u306e\u304c\u73fe\u72b6\u3067\u3059\u3002\u3053\u306e\u72b6\u614b\u304c\u3044\u3064\u307e\u3067\u7d9a\u304f\u304b\u306f\u308f\u304b\u308a\u307e\u305b\u3093\u3002<\/p>\n<p>\u3057\u304b\u3057\u3001\u3053\u306e\u30b5\u30a4\u30af\u30eb\u304c\u4e88\u60f3\u4ee5\u4e0a\u306b\u5f37\u304f\u3001\u9577\u304f\u3001\u305d\u3057\u3066\u9ad8\u4fa1\u306a\u3082\u306e\u3067\u3042\u308b\u3053\u3068\u306f\u78ba\u304b\u3060\u3068\u601d\u3044\u307e\u3059\u3002\u3067\u3059\u304b\u3089\u3001\u79c1\u898b\u3067\u306f\u3001\u307e\u3060\u591a\u304f\u306e\u4f59\u5730\u304c\u3042\u308b\u3068\u601d\u3044\u307e\u3059\u3002<\/p>\n<p>Scott Gruber &#8212; Citi &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u305d\u3046\u3067\u3059\u306d\u3002\u63a2\u9271\u306b\u3064\u3044\u3066\u88dc\u8db3\u3059\u308b\u3068\u3001\u3042\u306a\u305f\u306f\u63a2\u9271\u306b\u3064\u3044\u3066\u89e6\u308c\u3001\u305d\u308c\u304c\u30df\u30c3\u30af\u30b9\u306b\u5229\u76ca\u3092\u3082\u305f\u3089\u3057\u3066\u3044\u308b\u3053\u3068\u306b\u89e6\u308c\u3066\u3044\u307e\u3059\u3002\u3057\u304b\u3057\u3001\u3053\u306e\u30b5\u30a4\u30af\u30eb\u3067\u63a2\u9271\u304c\u3069\u306e\u3088\u3046\u306b\u56de\u5fa9\u3059\u308b\u3068\u304a\u8003\u3048\u3067\u3057\u3087\u3046\u304b\uff1f\u5f53\u521d\u306f\u3001\u63a2\u9271\u306f\u9045\u308c\u3066\u3044\u308b\u3068\u3044\u3046\u306e\u304c\u4e00\u822c\u7684\u306a\u898b\u65b9\u3067\u3057\u305f\u3002\u3057\u304b\u3057\u3001\u63a2\u9271\u6d3b\u52d5\u304c\u5927\u5e45\u306b\u6e1b\u5c11\u3057\u3001\u30a8\u30cd\u30eb\u30ae\u30fc\u5b89\u5168\u4fdd\u969c\u306b\u518d\u3073\u6ce8\u76ee\u304c\u96c6\u307e\u3063\u3066\u3044\u308b\u4eca\u3001\u63a2\u9271\u6d3b\u52d5\u304c\u4e00\u822c\u7684\u306a\u56de\u5fa9\u3092\u4e0a\u56de\u308b\u3068\u8003\u3048\u308b\u3079\u304d\u306a\u306e\u3067\u3057\u3087\u3046\u304b\u3002\u305d\u306e\u53ef\u80fd\u6027\u306f\u3042\u308b\u306e\u3067\u3057\u3087\u3046\u304b\uff1f<\/p>\n<p>\u30aa\u30ea\u30d3\u30a8\u30fb\u30eb\u30fb\u30d7\u30fc\u30c1 &#8212; CEO\uff08\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005<\/p>\n<p>\u3044\u3044\u3048\u3002\u79c1\u305f\u3061\u304c\u5b9f\u969b\u306b\u76ee\u6483\u3057\u3066\u3044\u308b\u306e\u306f\u3001\u753b\u9762\u306e\u4e0b\u306e\u65b9\u3067\u3001\u305d\u306e\u8868\u73fe\u3092\u4f7f\u308f\u305b\u3066\u3082\u3089\u3048\u3070\u3001\u591a\u304f\u306e\u63a2\u67fb\u30fb\u8a55\u4fa1\u30d7\u30ed\u30b0\u30e9\u30e0\u304c\u3001\u30cb\u30e5\u30fc\u30d5\u30ed\u30f3\u30c6\u30a3\u30a2\u3067\u898b\u3089\u308c\u308b\u3044\u304f\u3064\u304b\u306e\u826f\u3044\u4f9b\u7d66\u3068\u3068\u3082\u306b\u958b\u59cb\u3055\u308c\u3064\u3064\u3042\u308b\u3053\u3068\u306a\u306e\u3067\u3059\u3002\u30e1\u30c7\u30a3\u30a2\u3067\u3082\u3001\u30b3\u30ed\u30f3\u30d3\u30a2\u3067\u3082\u3001\u3042\u3089\u3086\u308b\u3068\u3053\u308d\u3067\u305d\u3046\u547c\u3070\u308c\u3066\u3044\u307e\u3059\u3002\u307e\u305f\u3001\u30a2\u30b8\u30a2\u3067\u3082\u65b0\u3057\u3044\u63a2\u9271\u30d7\u30ed\u30b0\u30e9\u30e0\u3078\u306e\u30b5\u30dd\u30fc\u30c8\u304c\u59cb\u307e\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u307e\u305f\u3001\u63a2\u9271\u30c7\u30fc\u30bf\u306e\u30e9\u30a4\u30bb\u30f3\u30b9\u3084\u30ea\u30b6\u30fc\u30d6\u30fb\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u30fb\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u3001\u30c7\u30b8\u30bf\u30eb\u6280\u8853\u306a\u3069\u3001\u63a2\u9271\u3084\u30ef\u30fc\u30af\u30d5\u30ed\u30fc\u306b\u5bfe\u5fdc\u3057\u305f\u30e9\u30a4\u30bb\u30f3\u30b9\u3084\u30c7\u30b8\u30bf\u30eb\u6280\u8853\u3092\u6570\u591a\u304f\u4fdd\u6709\u3057\u3066\u3044\u308b\u305f\u3081\u3001\u72ec\u81ea\u306e\u30a8\u30af\u30b9\u30dd\u30fc \u30b8\u30e3\u30fc\u3092\u63d0\u4f9b\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002\u3067\u3059\u304b\u3089\u3001\u3053\u308c\u306f\u79c1\u305f\u3061\u306e\u5c06\u6765\u306b\u3068\u3063\u3066\u30d7\u30e9\u30b9\u306b\u306a\u308b\u7d44\u307f\u5408\u308f\u305b\u3067\u3042\u308a\u3001\u3053\u306e\u30b5\u30a4\u30af\u30eb\u3067\u4e88\u60f3\u3055\u308c\u308b\u3088\u308a\u3082\u5c11\u3057\u65e9\u304f\u3084\u3063\u3066\u304f\u308b\u3068\u8003\u3048\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>Scott Gruber &#8212; Citi &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u3054\u6559\u793a\u3044\u305f\u3060\u304d\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002<\/p>\n<p>\u30aa\u30ea\u30d3\u30a8\u30fb\u30eb\u30fb\u30d7\u30fc\u30c1 &#8212; \u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005<\/p>\n<p>\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002<\/p>\n<p>\u30aa\u30da\u30ec\u30fc\u30bf\u30fc<\/p>\n<p>\u6b21\u306e\u8cea\u554f\u306f\u3001\u30a6\u30a7\u30eb\u30ba\u30fb\u30d5\u30a1\u30fc\u30b4\u306e\u30ed\u30b8\u30e3\u30fc\u30fb\u30ea\u30fc\u30c9\u304b\u3089\u3067\u3059\u3002\u3069\u3046\u305e\u3088\u308d\u3057\u304f\u304a\u9858\u3044\u3057\u307e\u3059\u3002<\/p>\n<p>Roger Read &#8212; Wells Fargo Securities &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u306f\u3044\u3001\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u304a\u306f\u3088\u3046\u3054\u3056\u3044\u307e\u3059\u3001\u305d\u3057\u3066\u3053\u3093\u306b\u3061\u306f\u3002<\/p>\n<p>\u30aa\u30ea\u30d3\u30a8\u30fb\u30eb\u30fb\u30d7\u30fc\u30c1 &#8212; \u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005<\/p>\n<p>\u304a\u306f\u3088\u3046\u3054\u3056\u3044\u307e\u3059\u3001\u30ed\u30b8\u30e3\u30fc\u3002<\/p>\n<p>\u30ed\u30b8\u30e3\u30fc\u30fb\u30ea\u30fc\u30c9 &#8212; \u30a6\u30a7\u30eb\u30ba\u30fb\u30d5\u30a1\u30fc\u30b4\u8a3c\u5238 &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u7b2c2\u56db\u534a\u671f\u304c\u597d\u8abf\u3060\u3063\u305f\u306b\u3082\u304b\u304b\u308f\u3089\u305a\u3001EBITDA\u30ac\u30a4\u30c0\u30f3\u30b9\u3092\u5f15\u304d\u4e0a\u3052\u306a\u304b\u3063\u305f\u306e\u306f\u3001\u660e\u3089\u304b\u306b\u4fa1\u683c\u9762\u3067\u30dd\u30b8\u30c6\u30a3\u30d6\u306a\u8981\u7d20\u304c\u3042\u3063\u305f\u306e\u3067\u3057\u3087\u3046\u3002\u614e\u91cd\u3068\u3044\u3046\u8868\u73fe\u304c\u9069\u5207\u304b\u3069\u3046\u304b\u308f\u304b\u308a\u307e\u305b\u3093\u304c\u3001\u58f2\u4e0a\u9ad8\u30ac\u30a4\u30c0\u30f3\u30b9\u306b\u5bfe\u3059\u308bEBITDA\u30ac\u30a4\u30c0\u30f3\u30b9\u3092\u4fdd\u5b88\u7684\u306b\u8003\u3048\u3066\u3044\u308b\u306e\u3067\u3057\u3087\u3046\u304b\uff1f\u305d\u308c\u306f\u30ed\u30b7\u30a2\u306a\u306e\u304b\u3001\u305d\u308c\u3068\u3082\u4ed6\u306e\u56fd\u306a\u306e\u3067\u3057\u3087\u3046\u304b\uff1f<\/p>\n<p>\u30aa\u30ea\u30d3\u30a8\u30fb\u30eb\u30fb\u30d7\u30fc\u30c1 &#8212; \u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005<\/p>\n<p>\u307e\u305a\u3001\u79c1\u305f\u3061\u304c\u63d0\u793a\u3057\u305f\u30ac\u30a4\u30c0\u30f3\u30b9\u3092\u518d\u78ba\u8a8d\u3055\u305b\u3066\u304f\u3060\u3055\u3044\u3002\u53ce\u76ca\u306f\u5c11\u306a\u304f\u3068\u3082\u901a\u5e74\u30672,700\u4e07\u30c9\u30eb\u3001\u305d\u3057\u3066\u30c9\u30eb\u30d9\u30fc\u30b9\u306eEBITDA\u306f2021\u5e74\u304b\u3089\u305a\u3063\u3068\u524d\u5e74\u6bd425\uff05\u4ee5\u4e0a\u6210\u9577\u3059\u308b\u3068\u3044\u3046\u30ac\u30a4\u30c0\u30f3\u30b9\u3092\u63d0\u793a\u3057\u307e\u3057\u305f\u3002\u3053\u308c\u3092\u898b\u308b\u3068\u3001\u73fe\u5728\u306e\u30b3\u30f3\u30bb\u30f3\u30b5\u30b9\u3088\u308a\u3082\u9ad8\u304f\u3001\u7b2c2\u56db\u534a\u671f\u306b\u884c\u3063\u305f\u5b9f\u969b\u306e\u5165\u672d\u3067\u8abf\u6574\u3055\u308c\u3066\u3044\u308b\u3053\u3068\u304c\u308f\u304b\u308a\u307e\u3059\u3002\u3053\u306e\u3088\u3046\u306b\u3001\u4eca\u304a\u8a71\u3057\u305f\u30ac\u30a4\u30c0\u30f3\u30b9\u306b\u3088\u308a\u3001\u901a\u5e74\u306eEBITDA\u30c9\u30eb\u306f\u4e0a\u6607\u3059\u308b\u3053\u3068\u304c\u4e88\u60f3\u3055\u308c\u307e\u3059\u3002<\/p>\n<p>Roger Read &#8212; Wells Fargo Securities &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u306f\u3044\u3001\u627f\u77e5\u3057\u3066\u3044\u307e\u3059\u3002\u79c1\u304c\u8a00\u3044\u305f\u304b\u3063\u305f\u306e\u306f\u3001\u7b2c2\u56db\u534a\u671f\u304b\u3089\u7b2c22\u56db\u534a\u671f\u306b\u304b\u3051\u3066200\u30d9\u30fc\u30b7\u30b9\u30dd\u30a4\u30f3\u30c8\u4e0a\u6607\u3057\u305f\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002\u305d\u306e\u305f\u3081\u3001\u4ed6\u306e\u8981\u56e0\u3082\u8003\u616e\u3059\u308b\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>\u30aa\u30ea\u30f4\u30a3\u30a8\u30fb\u30eb\u30fb\u30d7\u30fc\u30c1 &#8212; \u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005<\/p>\n<p>\u3053\u308c\u306f\u79c1\u305f\u3061\u306e\u91ce\u5fc3\u3067\u3042\u308a\u3001\u3053\u306e\u91ce\u5fc3\u306f\u3001\u79c1\u305f\u3061\u306e\u30c7\u30b8\u30bf\u30eb\u30d5\u30a9\u30fc\u30e0\u306b\u5f93\u3046\u3053\u3068\u306b\u306a\u308b\u7279\u5b9a\u306e\u30c7\u30b8\u30bf\u30eb\u5e74\u672b\u8ca9\u58f2\u3092\u901a\u3058\u3066\u4e88\u60f3\u3055\u308c\u308b\u5b63\u7bc0\u7684\u5f71\u97ff\u3068\u3001\u79c1\u305f\u3061\u304c\u597d\u307e\u3057\u3044\u3068\u8003\u3048\u308b\u30df\u30c3\u30af\u30b9\u306b\u57fa\u3065\u3044\u3066\u3044\u308b\u3068\u8003\u3048\u3066\u3044\u307e\u3059\u3002\u305d\u306e\u305f\u3081\u3001\u4e0b\u534a\u671f\u306b\u52a0\u901f\u3059\u308b\u6d77\u5916\u3084\u30aa\u30d5\u30b7\u30e7\u30a2\u3092\u542b\u3081\u3066\u3044\u307e\u3059\u3002\u3067\u3059\u304b\u3089\u3001\u3053\u308c\u306f\u79c1\u305f\u3061\u304c\u30c1\u30fc\u30e0\u306b\u8ab2\u3057\u305f\u91ce\u5fc3\u3067\u3042\u308a\u3001\u30c9\u30eb\u30d9\u30fc\u30b9\u3067\u901a\u5e74\u306eEBITDA\u6210\u9577\u7387\u309225\uff05\u4ee5\u4e0a\u306b\u3059\u308b\u3088\u3046\u30ac\u30a4\u30c0\u30f3\u30b9\u3057\u305f\u7406\u7531\u3067\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n<p>Roger Read &#8212; Wells Fargo Securities &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u308f\u304b\u308a\u307e\u3057\u305f\u3002\u3053\u308c\u306f\u3001\u7279\u306b\u3001\u5148\u307b\u306915\u5e74\u4ee5\u6765\u6700\u9ad8\u306e\u56db\u534a\u671f\u3068\u3044\u3046\u30b3\u30e1\u30f3\u30c8\u304c\u3042\u308a\u307e\u3057\u305f\u304c\u3001\u3053\u306e\u30b5\u30a4\u30af\u30eb\u306f\u3001\u591a\u304f\u306eE&amp;P\u4f01\u696d\u304c\u3001\u5546\u54c1\u4fa1\u683c\u306b\u6bd4\u3079\u3066\u652f\u51fa\u5897\u52a0\u306e\u30da\u30fc\u30b9\u3092\u4fdd\u5b88\u7684\u306b\u3057\u3066\u3044\u308b\u3082\u306e\u306a\u306e\u3067\u3059\u3002\u3053\u306e\u56de\u5fa9\u306e\u30b5\u30a4\u30af\u30eb\u3092\u898b\u3066\u3001\u4eca\u5e74\u306e\u5f8c\u534a\u306f\u3069\u3046\u306a\u308b\u306e\u304b\u3001\u307e\u305f\u6765\u5e74\u306f\u3069\u3046\u306a\u308b\u306e\u304b\u3001\u304a\u805e\u304b\u305b\u304f\u3060\u3055\u3044\u3002\u540c\u3058\u3088\u3046\u306b\u898b\u3048\u308b\u3082\u306e\u3001\u9055\u3063\u3066\u898b\u3048\u308b\u3082\u306e\u306f\u4f55\u3067\u3057\u3087\u3046\u304b\uff1f\u3064\u307e\u308a\u3001\u63a2\u9271\u306e\u56de\u5fa9\u304c\u7d9a\u304f\u3068\u4e88\u60f3\u3057\u3066\u3044\u308b\u306e\u3067\u3057\u3087\u3046\u3002<\/p>\n<p>\u3057\u304b\u3057\u3001\u958b\u767a\u90e8\u9580\u306b\u76ee\u3092\u5411\u3051\u308b\u3068\u3001\u305d\u3061\u3089\u3078\u306e\u6bd4\u91cd\u304c\u9ad8\u307e\u3063\u3066\u3044\u308b\u306e\u3067\u3057\u3087\u3046\u304b\u3002\u4ed6\u306e\u30b5\u30a4\u30af\u30eb\u306b\u6bd4\u3079\u3066\u3001\u3088\u308a\u7a4d\u6975\u7684\u306a\u69cb\u6210\u306b\u306a\u3063\u3066\u3044\u308b\u306e\u3067\u3057\u3087\u3046\u304b\uff1f\u305d\u308c\u3068\u3082\u3001\u6700\u7d42\u7684\u306b\u306f\u4ed6\u306e\u30b5\u30a4\u30af\u30eb\u3068\u540c\u3058\u3088\u3046\u306b\u3001\u3042\u308b\u5834\u6240\u3067\u306f\u5f37\u304f\u3001\u5225\u306e\u5834\u6240\u3067\u306f\u5f31\u304f\u306a\u308b\u306e\u3067\u3057\u3087\u3046\u304b\uff1f<\/p>\n<p>Olivier Le Peuch &#8212; CEO\uff08\u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005<\/p>\n<p>\u3044\u3044\u3048\u3002\u3053\u306e\u30b5\u30a4\u30af\u30eb\u306e\u7279\u5fb4\u306f\u3001\u305d\u306e\u5e45\u306e\u5e83\u3055\u3060\u3068\u601d\u3044\u307e\u3059\u3002\u79c1\u305f\u3061\u306f\u30014\u3064\u306e\u90e8\u9580\u306b\u308f\u305f\u3063\u3066\u6210\u9577\u3057\u3066\u3044\u308b\u3068\u8003\u3048\u3066\u3044\u307e\u3059\u30024\u3064\u306e\u5206\u91ce\u306b\u308f\u305f\u3063\u3066\u6210\u9577\u3057\u3066\u304a\u308a\u3001\u3053\u306e\u30b5\u30a4\u30af\u30eb\u306f\u4eca\u5f8c\u3082\u7d9a\u304f\u3068\u898b\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u3067\u3059\u304b\u3089\u3001\u5148\u307b\u3069\u7533\u3057\u4e0a\u3052\u305f\u3088\u3046\u306b\u3001\u56fd\u969b\u4e8b\u696d\u304c\u5927\u304d\u304f\u5909\u5316\u3057\u3001\u4e0b\u534a\u671f\u306b\u306f\u5317\u7c73\u306e\u6210\u9577\u7387\u3092\u4e0a\u56de\u308b\u3068\u898b\u3066\u3044\u307e\u3059\u3002\u307e\u305f\u3001\u30aa\u30d5\u30b7\u30e7\u30a2\u3082\u3001\u4eca\u5f8c\u307e\u3059\u307e\u3059\u62e1\u5927\u3059\u308b\u3082\u306e\u3068\u601d\u308f\u308c\u307e\u3059\u3002\u6d45\u6d77\u57df\u3067\u7a3c\u50cd\u3057\u3066\u3044\u308b\u30b8\u30e3\u30c3\u30ad\u30a2\u30c3\u30d7\u8239\u306e\u6570\u306f\u3001\u3053\u308c\u307e\u3067\u306e\u30b5\u30a4\u30af\u30eb\u3068\u6bd4\u3079\u3066\u3082\u905c\u8272\u306a\u3044\u304f\u3089\u3044\u591a\u304f\u3001300\u96bb\u3092\u8d85\u3048\u3066\u304a\u308a\u3001\u6df1\u6d77\u3082\u305d\u308c\u306b\u8ffd\u3044\u3064\u304d\u3064\u3064\u3042\u308b\u3088\u3046\u3067\u3059\u3002\u3053\u306e\u3088\u3046\u306b\u3001\u3055\u307e\u3056\u307e\u306a\u4fe1\u53f7\u304c\u6df7\u5728\u3057\u3066\u3044\u308b\u305f\u3081\u3001\u6d3b\u52d5\u306e\u898b\u901a\u3057\u304c\u660e\u3089\u304b\u306b\u5e83\u304c\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u3064\u307e\u308a\u3001\u4eca\u5f8c\u6570\u56db\u534a\u671f\u306f\u307b\u307c\u3059\u3079\u3066\u306e\u56fd\u3067\u5e45\u5e83\u3044\u6210\u9577\u304c\u898b\u8fbc\u307e\u308c\u308b\u3053\u3068\u306b\u52a0\u3048\u3001\u4f9b\u7d66\u4e3b\u5c0e\u3067\u5e02\u5834\u304c\u903c\u8feb\u3057\u3001\u3053\u306e\u30b5\u30a4\u30af\u30eb\u3067\u306f\u4ed6\u306b\u985e\u3092\u898b\u306a\u3044\u4fa1\u683c\u72b6\u6cc1\u304c\u751f\u307e\u308c\u308b\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002\u3059\u3079\u3066\u306e\u9762\u3067\u30dd\u30b8\u30c6\u30a3\u30d6 &#8212; \u306f\u3044\u3001\u305d\u3046\u3067\u3059\u3002\u3059\u3079\u3066\u306e\u6b21\u5143\u3067\u30dd\u30b8\u30c6\u30a3\u30d6\u3060\u3068\u3001\u79c1\u305f\u3061\u306f\u8a00\u3063\u3066\u3044\u307e\u3059\u3002\u9867\u5ba2\u3001\u5730\u57df\u3001\u30d3\u30b8\u30cd\u30b9\u30e9\u30a4\u30f3\u3002<\/p>\n<p>\u305d\u308c\u304c\u3001\u79c1\u305f\u3061\u304c\u4e88\u898b\u3057\u3066\u3044\u308b\u30e6\u30cb\u30fc\u30af\u306a\u70b9\u3067\u3042\u308a\u3001\u305d\u306e\u4e21\u65b9\u306a\u306e\u3067\u3059\u3002\u751f\u7523\u5897\u5f37\u3001\u8a55\u4fa1\u306e\u52a0\u901f\u3001\u305d\u3057\u3066\u77f3\u6cb9\u3068\u30ac\u30b9\u306e\u4e21\u65b9\u3092\u5bfe\u8c61\u3068\u3057\u305f\u958b\u767a\u30d7\u30ed\u30b0\u30e9\u30e0\u3067\u3059\u3002<\/p>\n<p>Roger Read &#8212; \u30a6\u30a7\u30eb\u30ba\u30fb\u30d5\u30a1\u30fc\u30b4\u8a3c\u5238 &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002<\/p>\n<p>\u53f8\u4f1a<\/p>\n<p>\u6b21\u306b\u3001\u30e2\u30eb\u30ac\u30f3\u30fb\u30b9\u30bf\u30f3\u30ec\u30fc\u306e\u30b3\u30ca\u30fc\u30fb\u30e9\u30a4\u30ca\u306b\u304a\u9858\u3044\u3057\u307e\u3059\u3002\u3069\u3046\u305e\u3088\u308d\u3057\u304f\u304a\u9858\u3044\u3057\u307e\u3059\u3002<\/p>\n<p>Connor Lynagh &#8212; \u30e2\u30eb\u30ac\u30f3\u30fb\u30b9\u30bf\u30f3\u30ec\u30fc &#8212; 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\u307e\u305f\u3001\u4eca\u5f8c\u3055\u3089\u306b\u6539\u5584\u304c\u9032\u3080\u3068\u3044\u3046\u3053\u3068\u3067\u3057\u3087\u3046\u304b\uff1f\u3053\u306e\u70b9\u306b\u3064\u3044\u3066\u304a\u805e\u304b\u305b\u304f\u3060\u3055\u3044\u3002<\/p>\n<p>\u30aa\u30ea\u30d3\u30a8\u30fb\u30eb\u30fb\u30d7\u30fc\u30c1 &#8212; 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Lynagh &#8212; \u30e2\u30eb\u30ac\u30f3\u30b9\u30bf\u30f3\u30ec\u30fc &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u4e86\u89e3\u3057\u307e\u3057\u305f\u3002\u3053\u3053\u3067\u5c11\u3057\u8a71\u3092\u5909\u3048\u307e\u3059\u3002\u30ed\u30b7\u30a2\u306b\u3064\u3044\u3066\u5c11\u3057\u89e6\u308c\u307e\u3057\u305f\u304c\u3001\u3053\u306e\u56fd\u3068\u4e8b\u696d\u306b\u3064\u3044\u3066\u3069\u306e\u3088\u3046\u306a\u898b\u901a\u3057\u3092\u304a\u6301\u3061\u306a\u306e\u304b\u3001\u660e\u3089\u304b\u306b\u3057\u3066\u3044\u305f\u3060\u3051\u306a\u3044\u3067\u3057\u3087\u3046\u304b\u3002\u307e\u305f\u3001\u30ed\u30b7\u30a2\u3067\u306e\u65b0\u898f\u5951\u7d04\u3078\u306e\u6295\u8cc7\u3092\u505c\u6b62\u3059\u308b\u8a08\u753b\u306b\u95a2\u9023\u3057\u3066\u3001\u4e8b\u5b9f\u4e0a\u3001\u3069\u306e\u3088\u3046\u306a\u98a8\u5411\u304d\u306b\u306a\u3063\u3066\u3044\u308b\u306e\u3067\u3057\u3087\u3046\u304b\uff1f<\/p>\n<p>\u30aa\u30ea\u30d3\u30a8\u30fb\u30eb\u30fb\u30d7\u30fc\u30c1 &#8212; 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Lynagh &#8212; Morgan Stanley &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u308f\u304b\u308a\u307e\u3057\u305f\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002<\/p>\n<p>\u30aa\u30ea\u30f4\u30a3\u30a8\u30fb\u30eb\u30fb\u30d7\u30fc\u30c1 &#8212; \u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005<\/p>\n<p>\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002<\/p>\n<p>\u30aa\u30da\u30ec\u30fc\u30bf\u30fc<\/p>\n<p>\u3067\u306f\u6700\u5f8c\u306b\u3082\u30461\u3064\u8cea\u554f\u3092\u3069\u3046\u305e RBC\u30ad\u30e3\u30d4\u30bf\u30eb\u30de\u30fc\u30b1\u30c3\u30c4\u306eKeith MacKey\u304b\u3089\u3067\u3059\u3002<\/p>\n<p>Keith MacKey &#8212; RBC Capital Markets &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u3069\u3046\u3082\u3001\u7686\u3055\u3093\u3001\u3053\u3093\u306b\u3061\u306f\u3002<\/p>\n<p>\u30aa\u30ea\u30d3\u30a8\u30fb\u30eb\u30fb\u30d7\u30fc\u30c1 &#8212; 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Biguet\uff09 &#8212; 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MacKey &#8212; RBC Capital Markets &#8212; 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MacKey &#8212; RBC Capital Markets &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u5b8c\u74a7\u3067\u3059\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002<\/p>\n<p>\u30aa\u30da\u30ec\u30fc\u30bf\u30fc<\/p>\n<p>\u3082\u30461\u4eba\u3001\u6642\u9593\u304c\u3042\u308b\u3088\u3046\u3067\u3059\u306d\u3002\u30b3\u30fc\u30a6\u30a7\u30f3\u306eMarc Bianchi\u3067\u3059\u3002\u3069\u3046\u305e<\/p>\n<p>Marc Bianchi &#8212; \u30b3\u30fc\u30a6\u30a7\u30f3\u30a2\u30f3\u30c9\u30ab\u30f3\u30d1\u30cb\u30fc &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u3053\u3093\u306b\u3061\u306f\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002\u307e\u305a\u3001\u30ed\u30b7\u30a2\u306b\u3064\u3044\u3066\u304a\u805e\u304d\u3057\u305f\u3044\u306e\u3067\u3059\u304c\u3001\u30d5\u30a9\u30ed\u30fc\u30a2\u30c3\u30d7\u306e\u305f\u3081\u3067\u3059\u3002\u524d\u56de\u306e\u66f4\u65b0\u3067\u306f\u3001\u30ed\u30b7\u30a2\u306f\u4f1a\u793e\u5168\u4f53\u306e\u53ce\u76ca\u306e\u7d045\uff05\u3060\u3063\u305f\u3068\u601d\u3044\u307e\u3059\u304c\u3001\u5f53\u6642\u306f\u30eb\u30fc\u30d6\u30eb\u304c\u5927\u5e45\u306b\u5207\u308a\u4e0b\u3052\u3089\u308c\u3066\u3044\u307e\u3057\u305f\u3002<\/p>\n<p>\u305d\u306e\u5f8c\u3001\u30eb\u30fc\u30d6\u30eb\u9ad8\u304c\u9032\u3093\u3067\u3044\u307e\u3059\u3002\u73fe\u5728\u306e\u53ce\u76ca\u69cb\u6210\u306b\u3064\u3044\u3066\u3001\u30b3\u30e1\u30f3\u30c8\u3092\u304a\u9858\u3044\u3057\u307e\u3059\u3002<\/p>\n<p>Stephane Biguet &#8212; \u6700\u9ad8\u8ca1\u52d9\u8cac\u4efb\u8005\uff08CFO<\/p>\n<p>\u306f\u3044\u3002\u30de\u30fc\u30af\u3001\u3059\u307f\u307e\u305b\u3093\u3002\u30ed\u30b7\u30a2\u306f\u30012022\u5e74\u306e\u6700\u521d\u306e6\u30ab\u6708\u9593\u3092\u901a\u3057\u3066\u3001\u5b9f\u306f &#8212; \u4e16\u754c\u5168\u4f53\u306e\u53ce\u76ca\u306e\u7d045%\u3067\u3059\u3002<\/p>\n<p>Marc Bianchi &#8212; Cowen and Company &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u4e86\u89e3\u3057\u307e\u3057\u305f\u3002\u308f\u304b\u308a\u307e\u3057\u305f\u3002Stephane\u3067\u3059\u3002\u4e0b\u534a\u671f\u306b\u3064\u3044\u3066\u3067\u3059\u304c\u3001\u30bb\u30b0\u30e1\u30f3\u30c8\u306b\u3064\u3044\u3066\u3082\u3046\u5c11\u3057\u8a73\u3057\u304f\u6559\u3048\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n<p>D&amp;I\u3068\u751f\u7523\u30b7\u30b9\u30c6\u30e0\u304c\u6539\u5584\u3092\u727d\u5f15\u3057\u3066\u3044\u308b\u3068\u306e\u3053\u3068\u3067\u3059\u304c\u3001D&amp;I\u306e\u52b9\u679c\u306f\u7b2c4\u56db\u534a\u671f\u304c\u4e2d\u5fc3\u3067\u3001\u3053\u308c\u306f\u5b63\u7bc0\u6027\u306b\u3088\u308b\u5178\u578b\u7684\u306a\u3082\u306e\u3067\u3059\u3002\u3057\u304b\u3057\u3001\u7b2c2\u56db\u534a\u671f\u306f\u975e\u5e38\u306b\u597d\u8abf\u3067\u3057\u305f\u306e\u3067\u3001\u7b2c3\u56db\u534a\u671f\u306b\u5411\u3051\u305f\u4e8b\u696d\u5c55\u958b\u306b\u3064\u3044\u3066\u3082\u3046\u5c11\u3057\u8a73\u3057\u304f\u6559\u3048\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n<p>\u30aa\u30ea\u30d3\u30a8\u30fb\u30eb\u30fb\u30d7\u30fc\u30c1 &#8212; \u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005<\/p>\n<p>\u30c7\u30fc\u30bf\u30a8\u30af\u30b9\u30d7\u30ed\u30ec\u30fc\u30b7\u30e7\u30f3\u306e\u58f2\u4e0a\u304c\u975e\u5e38\u306b\u597d\u8abf\u3060\u3063\u305f\u305f\u3081\u3001D&amp;I\u90e8\u9580\u306f\u975e\u5e38\u306b\u597d\u8abf\u306a\u56db\u534a\u671f\u3068\u306a\u308a\u307e\u3057\u305f\u3002\u3057\u304b\u3057\u540c\u6642\u306b\u3001D&amp;I\u306f\u901a\u5e38\u306e30\uff05\u53f0\u524d\u534a\u304b\u3089\u534a\u3070\u306e\u30de\u30fc\u30b8\u30f3\u306b\u56de\u5fa9\u3057\u3001\u4e0b\u671f\u306b\u306f\u3001\u4f8b\u5e74\u901a\u308a\u30c7\u30b8\u30bf\u30eb\u8ca9\u58f2\u306e\u52b9\u679c\u306b\u3088\u308a\u3001\u597d\u8abf\u306a\u5e74\u672b\u3092\u8fce\u3048\u3089\u308c\u308b\u3068\u601d\u3044\u307e\u3059\u3002\u3067\u3059\u304b\u3089\u3001\u975e\u5e38\u306b\u597d\u8abf\u3067\u306f\u3042\u308a\u307e\u3059\u304c\u3001\u307e\u306030\uff05\u53f0\u3060\u3068\u601d\u3044\u307e\u3059\u3057\u3001\u4eca\u5f8c\u308230\uff05\u53f0\u534a\u3070\u3068\u307e\u3067\u306f\u3044\u304b\u306a\u3044\u307e\u3067\u3082\u300130\uff05\u53f0\u306f\u7dad\u6301\u3067\u304d\u308b\u3068\u8003\u3048\u3066\u3044\u307e\u3059\u3002\u3067\u3059\u304b\u3089\u3001\u5e74\u672b\u306b\u306f\u4e0a\u6607\u306e\u5146\u3057\u304c\u898b\u3048\u3066\u304f\u308b\u3067\u3057\u3087\u3046\u3002<\/p>\n<p>Marc Bianchi &#8212; Cowen and Company &#8212; \u30a2\u30ca\u30ea\u30b9\u30c8<\/p>\n<p>\u975e\u5e38\u306b\u826f\u3044\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002<\/p>\n<p>\u30aa\u30ea\u30d3\u30a8\u30fb\u30eb\u30fb\u30d7\u30fc\u30c1 &#8212; \u6700\u9ad8\u7d4c\u55b6\u8cac\u4efb\u8005<\/p>\n<p>\u3042\u308a\u304c\u3068\u3046\u3001Marc\u3002\u305d\u308d\u305d\u308d\u7de0\u3081\u305f\u3044\u3068\u601d\u3044\u307e\u3059\u3002\u305d\u308c\u3067\u306f\u7686\u3055\u3093\u3001\u6700\u5f8c\u306b3\u3064\u306e\u91cd\u8981\u306a\u30dd\u30a4\u30f3\u30c8\u3092\u304a\u4f1d\u3048\u3057\u307e\u3059\u3002\u307e\u305a\u3001\u7b2c2\u56db\u534a\u671f\u306e\u696d\u7e3e\u304c\u793a\u3059\u3088\u3046\u306b\u3001\u5f53\u793e\u306e\u5dee\u5225\u5316\u3055\u308c\u305f\u30b0\u30ed\u30fc\u30d0\u30eb\u5e02\u5834\u3067\u306e\u5730\u4f4d\u3001\u696d\u754c\u3092\u30ea\u30fc\u30c9\u3059\u308b\u696d\u7e3e\u3001\u305d\u3057\u3066\u5f53\u793e\u306e\u6280\u8853\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306f\u3001\u3053\u306e\u30b5\u30a4\u30af\u30eb\u306e\u5e02\u5834\u529b\u5b66\u306b\u30e6\u30cb\u30fc\u30af\u306b\u30de\u30c3\u30c1\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p>\u6b21\u306b\u3001\u5e02\u5834\u306e\u30d5\u30a1\u30f3\u30c0\u30e1\u30f3\u30bf\u30eb\u30ba\u306f\u3001\u5c06\u6765\u306e\u9700\u8981\u5897\u52a0\u306e\u30da\u30fc\u30b9\u306e\u4e0d\u78ba\u5b9f\u6027\u306b\u5bfe\u3059\u308b\u30c7\u30ab\u30c3\u30d7\u30ea\u30f3\u30b0\u3068\u30ec\u30b8\u30ea\u30a8\u30f3\u30b9\u3092\u4e88\u671f\u3057\u3001\u5f53\u5206\u91ce\u3078\u306e\u5927\u5e45\u306a\u6295\u8cc7\u306e\u4f38\u3073\u3092\u5f15\u304d\u7d9a\u304d\u30b5\u30dd\u30fc\u30c8\u3057\u307e\u3059\u3002\u540c\u6642\u306b\u3001\u5317\u7c73\u304a\u3088\u3073\u6d77\u5916\u306e\u5e02\u5834\u306b\u304a\u3044\u3066\u3001\u73fe\u884c\u4fa1\u683c\u304a\u3088\u3073\u5951\u7d04\u4fa1\u683c\u306b\u5bfe\u3059\u308b\u6b63\u5473\u306e\u4fa1\u683c\u8ee2\u5ac1\u306b\u5bfe\u3059 \u308b\u652f\u6301\u3082\u5f37\u307e\u3063\u3066\u3044\u307e\u3059\u3002\u6700\u5f8c\u306b\u3001\u4e0b\u534a\u671f\u306e\u4e8b\u696d\u69cb\u6210\u3001\u7279\u306b\u56fd\u969b\u7684\u306a\u6295\u8cc7\u306e\u56de\u8ee2\u3068\u4fa1\u683c\u9762\u3067\u306e\u8ffd\u3044\u98a8\u306b\u78ba\u4fe1\u304c\u6301\u3066\u305f\u305f\u3081\u3001\u901a\u671f \u306e\u58f2\u4e0a\u3068\u5229\u76ca\u306e\u4f38\u3073\u306e\u898b\u901a\u3057\u3092\u4fee\u6b63\u3057\u307e\u3057\u305f\u3002\u3053\u306e\u30a2\u30c3\u30d7\u30b5\u30a4\u30af\u30eb\u306b\u304a\u3051\u308b\u5f53\u793e\u306e\u610f\u6b32\u3092\u652f\u3048\u308b\u305f\u3081\u3001\u5f53\u793e\u306f\u5f15\u304d\u7d9a\u304d\u591a\u304f\u306e\u30b5\u30fc\u30d3\u30b9\u304a\u3088\u3073\u6a5f\u5668\u306e\u30d0\u30c3\u30af\u30ed\u30b0\u3092\u78ba\u4fdd\u3057\u3066\u304a\u308a\u3001\u3053\u308c\u306f\u5e74\u672b\u4ee5\u964d\u306e\u5c06\u6765\u306b\u3068\u3063\u3066\u975e\u5e38\u306b\u826f\u3044\u5146\u5019\u3067\u3059\u3002<\/p>\n<p>\u7686\u3055\u3093\u3001\u79c1\u305f\u3061\u306f\u30ea\u30bf\u30fc\u30f3\u306b\u7126\u70b9\u3092\u3042\u3066\u305f\u6226\u7565\u3092\u6210\u529f\u88cf\u306b\u5b9f\u884c\u3057\u3001\u5f53\u793e\u306e\u5f37\u307f\u304c\u307e\u3059\u307e\u3059\u767a\u63ee\u3055\u308c\u308b\u5e02\u5834\u306b\u304a\u3044\u3066\u3001\u5f15\u304d\u7d9a\u304d\u512a\u308c\u305f\u696d\u7e3e\u3092\u9054\u6210\u3059\u308b\u305f\u3081\u306b\u3001\u5e78\u3044\u306b\u3082\u4eca\u304c\u7d76\u597d\u306e\u6a5f\u4f1a\u3067\u3042\u308b\u3068\u78ba\u4fe1\u3057\u3066\u3044\u307e\u3059\u3002\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3057\u305f\u3002<\/p>\n<p>\u4ee5\u4e0a\u3067\u3059\u3002\u4ed6\u306e\u7ffb\u8a33\u5e0c\u671b\u304c\u3042\u308c\u3070\u3054\u9023\u7d61\u3044\u305f\u3060\u3051\u308c\u3070\u691c\u8a0e\u3044\u305f\u3057\u307e\u3059\u3002<\/p>\n<p>\uff0a\u8aa4\u8a33\u306a\u3069\u304c\u3042\u308b\u304b\u3082\u3057\u308c\u307e\u305b\u3093\u3067\u306e\u53c2\u8003\u7a0b\u5ea6\u306b\u3057\u3066\u3044\u305f\u3060\u304d\u6295\u8cc7\u306f\u81ea\u5df1\u5224\u65ad\u3067\u304a\u9858\u3044\u3057\u307e\u3059\u3002<\/p>\n<p>\u30d6\u30ed\u30b0\u904b\u55b6\u306e\u52b1\u307f\u306b\u306a\u308a\u307e\u3059\u306e\u3067\u3001\u304a\u624b\u6570\u3067\u3059\u304c\u3001\u5fdc\u63f4\u306e\uff11\u65e5\uff11\u30af\u30ea\u30c3\u30af\u3092\u3088\u308d\u3057\u304f\u304a\u9858\u3044\u81f4\u3057\u307e\u3059\u3002<\/p>\n<p>\u2193\u2193\uff1c\u5fdc\u63f4\u30af\u30ea\u30c3\u30af\u304a\u9858\u3044\u3057\u307e\u3059\uff1e<\/p>\n<p><a href=\"https:\/\/stock.blogmura.com\/ranking\/in?p_cid=11122923\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/b.blogmura.com\/stock\/88_31.gif\" alt=\"\u306b\u307b\u3093\u30d6\u30ed\u30b0\u6751 \u682a\u30d6\u30ed\u30b0\u3078\" width=\"88\" height=\"31\" border=\"0\"><\/a><br \/>\n<a href=\"https:\/\/stock.blogmura.com\/ranking\/in?p_cid=11122923\" target=\"_blank\" rel=\"noopener\">\u306b\u307b\u3093\u30d6\u30ed\u30b0\u6751<\/a><\/p>\n<p><a href=\"https:\/\/stock.blogmura.com\/stockinfo\/ranking\/in?p_cid=11122923\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/b.blogmura.com\/stock\/stockinfo\/88_31.gif\" alt=\"\u306b\u307b\u3093\u30d6\u30ed\u30b0\u6751 \u682a\u30d6\u30ed\u30b0 \u682a\u5f0f\u6295\u8cc7\u60c5\u5831\u3078\" width=\"88\" height=\"31\" border=\"0\"><\/a><br \/>\n<a href=\"https:\/\/stock.blogmura.com\/stockinfo\/ranking\/in?p_cid=11122923\" target=\"_blank\" rel=\"noopener\">\u306b\u307b\u3093\u30d6\u30ed\u30b0\u6751<\/a><\/p>\n<p><a href=\"https:\/\/stock.blogmura.com\/americastock\/ranking\/in?p_cid=11122923\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/b.blogmura.com\/stock\/americastock\/88_31.gif\" alt=\"\u306b\u307b\u3093\u30d6\u30ed\u30b0\u6751 \u682a\u30d6\u30ed\u30b0 \u7c73\u56fd\u682a\u3078\" width=\"88\" height=\"31\" border=\"0\"><\/a><br \/>\n<a href=\"https:\/\/stock.blogmura.com\/americastock\/ranking\/in?p_cid=11122923\" target=\"_blank\" rel=\"noopener\">\u306b\u307b\u3093\u30d6\u30ed\u30b0\u6751<\/a><\/p>\n<p><a href=\"https:\/\/stock.blogmura.com\/tenbagger\/ranking\/in?p_cid=11122923\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/b.blogmura.com\/stock\/tenbagger\/88_31.gif\" alt=\"\u306b\u307b\u3093\u30d6\u30ed\u30b0\u6751 \u682a\u30d6\u30ed\u30b0 \u30c6\u30f3\u30d0\u30ac\u30fc\u3078\" width=\"88\" height=\"31\" border=\"0\"><\/a><br \/>\n<a href=\"https:\/\/stock.blogmura.com\/tenbagger\/ranking\/in?p_cid=11122923\" target=\"_blank\" rel=\"noopener\">\u306b\u307b\u3093\u30d6\u30ed\u30b0\u6751<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u30b7\u30e5\u30eb\u30f3\u30d9\u30eb\u30b8\u30a7 (SLB)2022\u5e74\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a\u306e\u65e5\u672c\u8a9e\u8a33\u3067\u3059\u3002 \u597d\u6c7a\u7b97\u3067\u3059\u306d\u3002\u30ac\u30a4\u30c0\u30f3\u30b9\u3082\u3088\u304f\u30a8\u30cd\u30eb\u30ae\u30fc\u4f01\u696d\u304c\u8a2d\u5099\u6295\u8cc7\u306b\u524d\u5411\u304d\u306a\u69d8\u306a\u306e\u3067\u305d\u3061\u3089\u306b\u3082\u671f\u5f85\u304c\u6301\u3066\u307e\u3059\u3002 \u30a8\u30cd\u30eb\u30ae\u30fc\u554f\u984c\u306f\u5b89\u5168\u4fdd\u969c\u306b\u3082\u76f4\u7d50\u3057\u307e\u3059\u306e\u3067\u4eca &#8230; <\/p>\n","protected":false},"author":1,"featured_media":1395,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[609,731,608,105],"class_list":{"0":"post-1802","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-72","8":"tag-slb","9":"tag-731","10":"tag-608","11":"tag-105"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u30b7\u30e5\u30eb\u30f3\u30d9\u30eb\u30b8\u30a7 (SLB)2022\u5e74\u7b2c2\u56db\u534a\u671f\u6c7a\u7b97\u8aac\u660e\u4f1a &#8211; \u682a\u5f0f\u6295\u8cc7\u30921up\u3059\u308b\u30d6\u30ed\u30b0<\/title>\n<meta name=\"description\" content=\"\u30b7\u30e5\u30eb\u30f3\u30d9\u30eb\u30b8\u30a7 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