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\"\"<\/figure><\/div>\n\n\n\n

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\u8a8d\u77e5\u75c7\u306f\u3001\u305d\u306e\u4e0d\u5b89\u3092\u548c\u3089\u3052\u308b\u305f\u3081\u306e\u898b\u5b88\u308a\u3001\u58f0\u639b\u3051\u306a\u3069\u306e\u9069\u5207\u306a\u30b1\u30a2\u304c\u306a\u3051\u308c\u3070\u3001\u75c7\u72b6\u306f\u4e00\u6c17\u306b\u60aa\u5316\u3057\u3001\u5468\u8fba\u75c7\u72b6\u304c\u767a\u751f\u3057\u307e\u3059\u3002\u706b\u306e\u4e0d\u59cb\u672b\u3084\u3054\u307f\u5c4b\u6577\u306e\u3088\u3046\u306b\u306a\u3063\u305f\u308a\u3001\u591c\u9593\u306e\u5f98\u5f8a\u3084\u5927\u58f0\u3001\u5984\u60f3\u306b\u3088\u308b\u5165\u5c45\u8005\u3078\u306e\u66b4\u8a00\u3001\u66b4\u884c\u306a\u3069\u3001\u4ed6\u306e\u5165\u5c45\u8005\u306e\u751f\u6d3b\u306b\u3082\u5927\u304d\u304f\u5f71\u97ff\u3092\u53ca\u307c\u3057\u307e\u3059\u3002\u3053\u306e\u300c\u8a8d\u77e5\u75c7\u300d\u3092\u7406\u7531\u306b\u3001\u4e8b\u696d\u8005\u304b\u3089\u9014\u4e2d\u9000\u5c45\u3092\u6c42\u3081\u308b\u8981\u4ef6\u3068\u3067\u304d\u308b\u304b\u3068\u8a00\u3048\u3070\u3001\u6cd5\u7684\u306b\u3082\u5b9f\u52d9\u7684\u306b\u3082\u56f0\u96e3\u3067\u3059\u3002\u300c\u66b4\u8a00\u30fb\u66b4\u884c\u306a\u3069\u4ed6\u306e\u5165\u5c45\u8005\u306b\u8ff7\u60d1\u3068\u306a\u308b\u884c\u70ba\u304c\u3042\u308a\u3001\u901a\u5e38\u306e\u4ecb\u8b77\u3067\u306f\u5bfe\u5fdc\u3067\u304d\u306a\u3044\u5834\u5408\u306f\u3001\u4e8b\u696d\u8005\u304b\u3089\u306e\u9000\u5c45\u3092\u6c42\u3081\u308b\u3053\u3068\u304c\u3067\u304d\u308b\u300d\u3068\u3055\u308c\u3066\u3044\u307e\u3059\u304c\u3001\u672c\u4eba\u304c\u62d2\u5426\u3057\u305f\u5834\u5408\u3001\u88c1\u5224\u3092\u3059\u308b\u3057\u304b\u3042\u308a\u307e\u305b\u3093\u3002\u5bb6\u65cf\u304c\u3044\u306a\u3044\u4eba\u306f\u3069\u3046\u3059\u308b\u306e\u304b\u3001\u5bb6\u65cf\u304c\u3044\u3066\u3082\u5f15\u304d\u53d6\u308a\u3092\u62d2\u5426\u3055\u308c\u308b\u5834\u5408\u306b\u3069\u3046\u3059\u308b\u306e\u304b\u3001\u3082\u3061\u308d\u3093\u3001\u5b9f\u529b\u884c\u4f7f\u3067\u30b5\u30fc\u30d3\u30b9\u3092\u6b62\u3081\u308b\u3001\u653e\u308a\u51fa\u3059\u3068\u3044\u3046\u3053\u3068\u3082\u3067\u304d\u307e\u305b\u3093\u3002<\/p>\n\n\n\n

\u2461\u3000\u300c\u8981\u4ecb\u8b77\u5bfe\u5fdc\u306b\u9ad8\u9f62\u8005\u4f4f\u5b85\u306f\u5168\u304f\u95a2\u4e0e\u3057\u306a\u3044\u300d\u3068\u3044\u3046\u30d3\u30b8\u30cd\u30b9\u30e2\u30c7\u30eb\u306f\u53ef\u80fd\u304b<\/strong>
\u524d\u56de\u8ff0\u3079\u305f\u3088\u3046\u306b\u3001\u4ecb\u8b77\u4ed8\u6709\u6599\u8001\u4eba\u30db\u30fc\u30e0\u3068\u3044\u3046\u306e\u306f\u3001\u300c\u9ad8\u9f62\u8005\u4f4f\u5b85\u304c\u4ecb\u8b77\u770b\u8b77\u30b5\u30fc\u30d3\u30b9\u3092\u76f4\u63a5\u63d0\u4f9b\u3059\u308b\u300d\u3068\u3044\u3046\u610f\u5473\u3067\u3001\u8a00\u3044\u304b\u3048\u308c\u3070\u9ad8\u9f62\u8005\u4f4f\u5b85\u304c\u4ecb\u8b77\u30b5\u30fc\u30d3\u30b9\u63d0\u4f9b\u306e\u8cac\u4efb\u3092\u6301\u3064\u3068\u3044\u3046\u3053\u3068\u3067\u3059\u3002\u4e00\u65b9\u306e\u30b5\u9ad8\u4f4f\u3084\u4f4f\u5b85\u578b\u6709\u6599\u8001\u4eba\u306a\u3069\u533a\u5206\u652f\u7d66\u9650\u5ea6\u984d\u65b9\u5f0f\u306e\u9ad8\u9f62\u8005\u4f4f\u5b85\u306f\u3001\u540c\u4e00\u6cd5\u4eba\u3067\u8a2a\u554f\u4ecb\u8b77\u30fb\u901a\u6240\u4ecb\u8b77\u7b49\u306e\u4ecb\u8b77\u30b5\u30fc\u30d3\u30b9\u3092\u63d0\u4f9b\u3057\u3066\u3044\u3066\u3082\u3001\u305d\u308c\u306f\u9ad8\u9f62\u8005\u4f4f\u5b85\u306b\u4ed8\u968f\u3059\u308b\u8a2d\u5099\u30fb\u6a5f\u80fd\u3067\u306f\u306a\u304f\u3001\u300c\u8fd1\u304f\u306b\u3042\u308b\u304b\u3089\u4fbf\u5229\u300d\u3068\u3044\u3046\u5468\u8fba\u74b0\u5883\u306e\u4e00\u3064\u3067\u3057\u304b\u3042\u308a\u307e\u305b\u3093\u3002\u5165\u5c45\u6642\u306b\u306f\u3001\u300c\u4ecb\u8b77\u304c\u5fc5\u8981\u306b\u306a\u3063\u3066\u3082\u3001\u95a2\u9023\u6cd5\u4eba\u306e\u8a2a\u554f\u4ecb\u8b77\u304c\u4f75\u8a2d\u3055\u308c\u3066\u307e\u3059\u304b\u3089\u5b89\u5fc3\u3067\u3059\u3088\u2026\u300d\u3068\u8aa4\u8a8d\u3055\u305b\u308b\u3088\u3046\u306a\u8aac\u660e\u3092\u3057\u3066\u304a\u3044\u3066\u3001\u4e8b\u6545\u3084\u30c8\u30e9\u30d6\u30eb\u304c\u767a\u751f\u3059\u308b\u3068\u300c\u500b\u4eba\u5951\u7d04\u3060\u304b\u3089\u4e8b\u6545\u306e\u8cac\u4efb\u306f\u6301\u3061\u307e\u305b\u3093\u300d\u300c\u4ecb\u8b77\u30b5\u30fc\u30d3\u30b9\u5951\u7d04\u306e\u5f53\u4e8b\u8005\u306f\u9ad8\u9f62\u8005\u4f4f\u5b85\u3067\u306f\u306a\u3044\u300d\u3068\u3044\u3046\u306e\u306f\u5165\u5c45\u8005\u30fb\u5bb6\u65cf\u3092\u6b3a\u304f\u884c\u70ba\u3067\u3059\u3002<\/p>\n\n\n\n

\u305f\u3060\u554f\u984c\u306f\u3001\u300c\u8981\u4ecb\u8b77\u5bfe\u5fdc\u306b\u4e00\u5207\u95a2\u4e0e\u3057\u306a\u3044\u300d\u3068\u3044\u3046\u9ad8\u9f62\u8005\u4f4f\u5b85\u306b\u5165\u5c45\u8005\u304c\u96c6\u307e\u308b\u306e\u304b\u3067\u3059\u3002
\u305d\u308c\u306f\u2460\u3067\u8ff0\u3079\u305f\u3000\u300c\u81ea\u7acb\u9ad8\u9f62\u8005\u306e\u307f\u3001\u8981\u4ecb\u8b77\u306b\u306a\u308c\u3070\u9000\u5c45\u300d\u3068\u3044\u3046\u9ad8\u9f62\u8005\u4f4f\u5b85\u3082\u540c\u3058\u3067\u3059\u3002
\u306a\u305c\u306a\u3089\u3001\u9ad8\u9f62\u8005\u4f4f\u5b85\u3078\u306e\u5165\u5c45\u306f\u3001
\u25c7\u3000\u9aa8\u6298\u306a\u3069\u3067\u8981\u4ecb\u8b77\u72b6\u614b\u3068\u306a\u308a\u300c\u81ea\u5b85\u306b\u623b\u308b\u3053\u3068\u304c\u3067\u304d\u306a\u3044\u300d\u3068\u3044\u3046\u5dee\u3057\u8feb\u3063\u305f\u7406\u7531\u304c\u3042\u308b\u3002
\u25c7\u3000\u3044\u307e\u306f\u8981\u4ecb\u8b77\u3067\u306f\u306a\u3044\u3051\u308c\u3069\u300c\u4ecb\u8b77\u3067\u5b50\u4f9b\u306b\u8ff7\u60d1\u304b\u3051\u305f\u304f\u306a\u3044\u300d\u306a\u3069\u3001\u5c06\u6765\u306e\u4ecb\u8b77\u4e0d\u5b89\u304c\u5f37\u3044\u3002<\/strong>
\u3068\u3044\u3046\u3001\u300c\u73fe\u5728\u306e\u4ecb\u8b77\u76ee\u7684\u300d\u307e\u305f\u306f\u300c\u5c06\u6765\u306e\u4ecb\u8b77\u76ee\u7684\u300d\u306b\u5927\u5225\u3055\u308c\u308b\u304b\u3089\u3067\u3059\u3002\u300c\u8981\u4ecb\u8b77\u306b\u306a\u308c\u3070\u751f\u6d3b\u3067\u304d\u306a\u3044\u300d\u300c\u4ecb\u8b77\u304c\u5fc5\u8981\u306b\u306a\u3063\u3066\u3082\u5b89\u5fc3\u304b\u3069\u3046\u304b\u77e5\u3089\u306a\u3044\u300d\u3068\u3044\u3046\u306e\u306f\u3001\u5236\u5ea6\u7684\u306b\u306f\u6b63\u3057\u304f\u3066\u3082\u3001\u9ad8\u9f62\u8005\u4f4f\u5b85\u306e\u30d3\u30b8\u30cd\u30b9\u30e2\u30c7\u30eb\u3068\u3057\u3066\u306f\u6210\u7acb\u3057\u306a\u3044\u306e\u3067\u3059\u3002<\/p>\n\n\n\n

\u3053\u308c\u306f\u3001\u30b5\u9ad8\u4f4f\u3060\u3051\u3067\u306a\u304f\u3001\u4f4f\u5b85\u578b\u6709\u6599\u8001\u4eba\u30db\u30fc\u30e0\u3067\u3082\u540c\u3058\u3067\u3059\u3002
\u9ad8\u9f62\u8005\u4f4f\u5b85\u4e8b\u696d\u306b\u53c2\u5165\u3057\u305f\u3044\u3001\u300cM&A\u300d\u3067\u9ad8\u9f62\u8005\u4f4f\u5b85\u4e8b\u696d\u306b\u53c2\u5165\u3057\u305f\u3044\u3068\u76f8\u8ac7\u3055\u308c\u308b\u4eba\u306e\u4e2d\u306b\u306f\u3001\u300c\u4ecb\u8b77\u306e\u3053\u3068\u306f\u3088\u304f\u308f\u304b\u3089\u306a\u3044\u306e\u3067\u3001\u307e\u305a\u306f\u81ea\u7acb\u30fb\u8981\u652f\u63f4\u5411\u3051\u304b\u3089\u30b9\u30bf\u30fc\u30c8\u3057\u305f\u3044\u300d\u3068\u3044\u3046\u58f0\u3082\u3042\u308a\u307e\u3059\u304c\u3001\u9ad8\u9f62\u8005\u4f4f\u5b85\u3068\u3044\u3063\u3066\u3082\u3001\u300c\u81ea\u7acb\u30fb\u8981\u652f\u63f4\u5411\u3051\u4f4f\u5b85\u300d\u3068\u300c\u8981\u4ecb\u8b77\u5411\u3051\u4f4f\u5b85\u300d\u306f\u3001\u5efa\u7269\u8a2d\u5099\u3082\u4ecb\u8b77\u30b7\u30b9\u30c6\u30e0\u3082\u5168\u304f\u5225\u3082\u306e\u3067\u3042\u308a\u3001\u304b\u3064\u3001\u300c\u8981\u4ecb\u8b77\u5411\u3051\u4f4f\u5b85\u300d\u3088\u308a\u3082\u300c\u81ea\u7acb\u30fb\u8981\u652f\u63f4\u5411\u3051\u4f4f\u5b85\u300d\u306e\u65b9\u304c\u3001\u5b9f\u52d9\u7684\u306b\u3082\u904b\u55b6\u7684\u306b\u3082\u3001\u6570\u500d\u96e3\u3057\u3044\u306e\u3067\u3059\u3002





<\/p>\n\n\n\n

\u9ad8\u9f62\u8005\u4f4f\u5b85M&A\u306e\u672a\u6765\u3068\u696d\u754c\u518d\u7de8 (\u7279\u96c6)<\/strong>

1 \u6d3b\u6027\u5316\u3059\u308b\u9ad8\u9f62\u8005\u4f4f\u5b85\u306eM&A\u306f\u30d0\u30d6\u30eb\u5d29\u58ca\u306e\u5e8f\u7ae0<\/a>
2 \u4ecb\u8b77\u30d3\u30b8\u30cd\u30b9\u30fb\u9ad8\u9f62\u8005\u4f4f\u5b85\u306eM&A\u304c\u52a0\u901f\u3059\u308b\u80cc\u666f<\/a>
3 \u9ad8\u9f62\u8005\u4f4f\u5b85\u306eM&A\u306e\u96e3\u3057\u3055\u3000\uff5e\u8cfc\u5165\u5f8c\u306b\u5546\u54c1\u30fb\u4fa1\u683c\u3092\u5909\u3048\u3089\u308c\u306a\u3044\uff5e<\/a>
4 \u9ad8\u9f62\u8005\u4f4f\u5b85\u306e\u300cM&A\u300d\u306f\u3001\u3044\u307e\u306e\u53ce\u76ca\u3067\u306f\u306a\u304f\u3053\u308c\u304b\u3089\u306e\u30ea\u30b9\u30af\u3092\u628a\u63e1<\/a>
5 \u305d\u306e\u53ce\u76ca\u6027\u306f\u672c\u7269\u306a\u306e\u304b\u3000\u2160\u3000\uff5e\u5165\u5c45\u4e00\u6642\u91d1\u7d4c\u55b6\u306e\u30ea\u30b9\u30af\uff5e<\/a>
<\/span>6 \u305d\u306e\u53ce\u76ca\u6027\u306f\u672c\u7269\u306a\u306e\u304b\u3000\u2161\u3000\uff5e\u56f2\u3044\u8fbc\u307f\u4e0d\u6b63\u306b\u3088\u308b\u53ce\u76ca\uff5e<\/span><\/a>
7 \u5358\u72ec\u3067\u904b\u55b6\u3067\u304d\u306a\u3044\u9ad8\u9f62\u8005\u4f4f\u5b85\u3000\u2160\u3000\u3000\uff5e\u4f4e\u4fa1\u683c\u306e\u4ecb\u8b77\u4ed8\u6709\u6599\u8001\u4eba\u30db\u30fc\u30e0\uff5e<\/a>
<\/span>8 \u5358\u72ec\u3067\u904b\u55b6\u3067\u304d\u306a\u3044\u9ad8\u9f62\u8005\u4f4f\u5b85\u3000\u2161\u3000\u3000\uff5e\u5358\u72ec\u306e\u4f4f\u5b85\u578b\u30fb\u30b5\u9ad8\u4f4f\uff5e<\/span><\/a>
9 \u9ad8\u9f62\u8005\u4f4f\u5b85\u306e\u300cM&A\u4fa1\u683c\u300d\u306f\u66b4\u843d\u3001\u6295\u3052\u58f2\u308a\u72b6\u614b\u306b\u306a\u308b<\/a>
10 \u691c\u8a0e\u8cc7\u6599\u306f\u3001\u8ca1\u52d9\u8af8\u8868\u3067\u306f\u306a\u304f\u3001\u300c\u91cd\u8981\u4e8b\u9805\u8aac\u660e\u66f8\u300d\u3092\u8aad\u307f\u89e3\u304f<\/a>
11 \u6210\u529f\u3059\u308b\u300cM&A\u300d\u3068\u696d\u754c\u518d\u7de8\u3000\u3000\u2160\u3000\uff5e\u30b0\u30e9\u30f3\u30c9\u30d3\u30b8\u30e7\u30f3\u304c\u63cf\u304f\uff5e<\/a>
12 \u6210\u529f\u3059\u308b\u300cM&A\u300d\u3068\u696d\u754c\u518d\u7de8\u3000 \u2161\u3000\uff5e\u5730\u57df\u5305\u62ec\u30b1\u30a2\u3092\u610f\u8b58\u3059\u308b\uff5e<\/a>
13 \u6210\u529f\u3059\u308b\u300cM&A\u300d\u3068\u696d\u754c\u518d\u7de8\u3000 \u2162\u3000\u3000\uff5e\u300c\u4eca\u3084\u308b\u3079\u304d\u3067\u306f\u306a\u3044\u300d\uff5e\u3000<\/a> <\/span> <\/p>\n\n\n\n



<\/p>\n\n\n

\n
\"\"<\/a><\/figure><\/div>\n\n\n




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