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「起業大全」シリーズスライド⑨ Startup Financeの極意
masa tadokoro
October 05, 2020
Business
0
270
「起業大全」シリーズスライド⑨ Startup Financeの極意
masa tadokoro
October 05, 2020
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Transcript
4UBSUVQ'JOBODFͷۃҙ
ᶃۀظϑΝΠφϯε ᶄࢿຊࡦ&RVJUZ4UPSZͷ࡞Γํ ᶅ&9*5 *10." ͷཧղ ᶆ͓ۚͷूΊํ ᶇࢿۚௐୡϐονͷۃҙ ᶈ7$ަবͷۃҙ ຊͷΞδΣϯμ
ɾ໊͓લ ɾ৬ۀ ɾࢿۚௐୡͷ՝ ɾظ͢Δ͜ͱ ɾϚΠϒʔϜ
ᶃۀظϑΝΠφϯε ᶄࢿຊࡦ&RVJUZ4UPSZͷ࡞Γํ ᶅ&9*5 *10." ͷཧղ ᶆ͓ۚͷूΊํ ᶇࢿۚௐୡϐονͷۃҙ ᶈ7$ަবͷۃҙ ຊͷΞδΣϯμ
4UBSUVQ'JOBODFͷۃҙ
ۀ࣌ͷ ϕϯνϟʔϑΝΠφϯε ͳͥॏཁͳͷ͔ʁ
1SPEVDU 5FBN 'JOBODF 'JOBODF ϓϩμΫτΛ࡞Δ͜ͱ νʔϜΛ࡞Δ͜ͱͱฒΜͰ ޭ͢ΔελʔτΞοϓ Λ࡞ΔཁૉͰ͋Δ [
4UBHF ϦεΫ ࣝ Ϩϕϧ ߴ͍ ͍ ߴ͍ ͍ 1SFTFFE 4FFE
4FSJFT" 4FSJFT# ॳظεςʔδʹஔ͍ͯɺ ࢿۚௐୡϑΝΠφϯεʹ ؔͯ͠ϦεΫ͕ߴ͍ʹ ؔΘΒͣɺࣝϨϕϧ͕͍ ʢॳظεςʔδʣ
ࣝΛͯ͠ ϦεΫΛճආ͢Δ
ཧձܭ ʢ༧ࢉཧɺݪՁཧͳͲʣ ɹࡒձܭ ʢࡒॾද࡞ ࠪରԠͳͲʣ ɹɹɹɹɹɹɹɹɹɹελʔτΞοϓ ɹɹɹɹɹɹɹɹɹɹϑΝΠφϯε ɹɹɹɹɹɹɹʢࢿຊࡦɺࢿۚௐୡ ɹɹɹɹɹɹ&RVJUZ4UPSZࡦఆͳͲʣ
ཧձܭ ʢ༧ࢉཧɺݪՁཧͳͲʣ ɹࡒձܭ ʢࡒॾද࡞ ࠪରԠͳͲʣ ɹɹɹɹɹɹɹɹɹɹελʔτΞοϓ ɹɹɹɹɹɹɹɹɹɹϑΝΠφϯε ɹɹɹɹɹɹɹʢࢿຊࡦɺࢿۚௐୡ ɹɹɹɹɹɹ&RVJUZ4UPSZࡦఆͳͲʣ [
ຊεϥΠυͰ Χόʔ͢Δ༰
*EFBUJPO $1' 14' 1.' 554 4DBMF *10 1PTU *10 1SPEVDU
.BSLFU 'PVOEFS 5FBN 'JOBODF $1' 3JTL 'PVOEFS*TTVF'JU 3JTL *OJUJBM$BQJUBMJ[BUJPO 3JTL 'PVOEFS3FBEJOFTTϦεΫ 5FDI 'FBTJCJMJUZ 3JTL 1SPEVDU -BVODI 3JTL #VSO3JTL 1JWPU5PMFSBUJPO3JTL 1.' 3JTL 'PVOEJOH5FBN #VJMEJOH3JTL $PGPVOEFS4IBSF"MMPDBUJPO 3JTL 6OJU &DPOPNJDT 3JTL (SPXUI 3JTL )JSJOHSJTL *10 3JTL *10४උ 3JTL 4UPDL%JMVUJPO3JTL $POHMPNFSBUF %JTDPVOU3JTL 1PTU*10(SPXUI 3JTL %FGFOTJCJMJUZ#VJMEJOH3JTL 'PVOEFSUP$&0 5SBOTGPSN3JTL 1PTU*10)3 SJTL 4VDDFTT4UBUVT 2VP3JTL 0QFSBUJPOCMBDLCPY3JTL 4VDDFTTPS3JTL 1SFTFFE 4FFE 4FSJFT" 4FSJFT#d 1SF*10 $&01VCMJD'JHVSF 5SBOTGPSN3JTL 5BMFOU3FUFOUJPO3JTL 'VOESBJTJOH3JTL $VMUVSF#SFBL3JTL
*EFBUJPO $1' 14' 1.' 554 4DBMF *10 1PTU *10 1SPEVDU
.BSLFU 'PVOEFS 5FBN 'JOBODF $1' 3JTL 'PVOEFS*TTVF'JU 3JTL *OJUJBM$BQJUBMJ[BUJPO 3JTL 'PVOEFS3FBEJOFTTϦεΫ 5FDI 'FBTJCJMJUZ 3JTL 1SPEVDU -BVODI 3JTL #VSO3JTL 1JWPU5PMFSBUJPO3JTL 1.' 3JTL 'PVOEJOH5FBN #VJMEJOH3JTL $PGPVOEFS4IBSF"MMPDBUJPO 3JTL 6OJU &DPOPNJDT 3JTL (SPXUI 3JTL )JSJOHSJTL *10 3JTL *10४උ 3JTL 4UPDL%JMVUJPO3JTL $POHMPNFSBUF %JTDPVOU3JTL 1PTU*10(SPXUI 3JTL %FGFOTJCJMJUZ#VJMEJOH3JTL 'PVOEFSUP$&0 5SBOTGPSN3JTL 1PTU*10)3 SJTL 4VDDFTT4UBUVT 2VP3JTL 0QFSBUJPOCMBDLCPY3JTL 4VDDFTTPS3JTL 1SFTFFE 4FFE 4FSJFT" 4FSJFT#d 1SF*10 $&01VCMJD'JHVSF 5SBOTGPSN3JTL 5BMFOU3FUFOUJPO3JTL 'VOESBJTJOH3JTL $VMUVSF#SFBL3JTL 'JOBODFͰ Χόʔ͢Δ༰
1SPEVDUNBSLFUpUΛ ୡ͢Δલͷஈ֊Ͱ͋Δɻ .71Λ࡞ΓϑΟʔυόοΫΛ ΧελϚʔ͔Βड͚ͳ͕Βɺ ސ٬ͷཉ͕͠ΔͷΛ࡞ͬͯߦ͘ ۀظʢ1SF4FFEظʣͷ য
ͦͷͨΊʹ #PPUTUSBQΛߦ͏ ۀظʢ1SF4FFEظʣͷ ཹҙ ࣗͨͪͷखۚͰ 1.'ΛୡͰ͖ΔՄೳੑ͕ߴ͍ͳΒɺ ௐୡආ͚ΔΑ͏ʹ͢Δ
#PPUTUSBQͱԿ͔ʁ ࣄۀͰੜͨ͡རӹ ʢ͘͠ۀऀͷࢿۚʣ Λӡసࢿۚͷݯઘʹͯ͠ɺ ࣄۀΛਐΊ͍ͯ͘͜ͱ
Ͱ͖Δ͚͍ͩظؒ ࣗݾࢿۚ #PPUTUSBQ ͰࣄۀΛଓ͚Α 3PO$POXBZ ΤϯδΣϧࢿՈ
ࢿۚௐୡͷλΠϛϯά ελʔτΞοϓ͕ࢿۚΛ ඞཁͱ͠ɺࢿۚελʔτΞοϓΛඞ ཁͱ͍ͯ͠Δ͕࣌ ࢿۚௐୡΛ͢ΔλΠϛϯάͰ͋Δ
͓ۚΛ͏ͱ ͦͷޙͷͷ εϐʔυ͕͙ͬͱ ্͕ΔετʔϦʔ Λ࡞ΕΔ͔ʁ 5JNF
1.'Λୡ͢Δ·Ͱ ࢿۚௐୡΛੵۃతʹ͢Δ͖Ͱͳ͍
ࢿۚௐୡΛ͢Δͱ 1JWPU͕Γʹ͘͘ͳΔ ॊೈੑ͕ݮΔʣ
ελʔτΞοϓͷ࠷େͷڧΈɿ 1JWPUΛ܁Γฦ͠ͳ͕Β1.'Λୡ͢Δ͜ͱ
4UBHF $VTUPNFS 1SPCMFNpU 1SPCMFN TPMVUJPOpU 1SPEVDU .BSLFUpU 4DBMJOH -FBO $BOWBT
.71 ϩʔϯνલ .71 ϩʔϯνޙ ݱঢ়ͷϞσϧ ΧελϚʔ ηάϝϯτ 1JWPU ΧελϚʔχʔζ 1JWPU ;PPNJO1JWPU ;PPNPVU1JWPU 1MBUGPSN1JWPU $IBOOFM 1JWPU ࣄۀߏ1JWPU Өڹྗେ Өڹྗத Өڹྗখ Өڹྗ࠷େ
*10 4FSJFT" 4FSJFT# 4FSJFT$ .F[[BOJOF &BSMZ 4UBHF -BUFS 4UBHF 4FFE
1SF 4FFE 4FFE 4UBHF ࢿۚௐୡͷεςʔδ
ࢿۚௐୡͷεςʔδ ࢿۚௐୡ εςʔδ͕ਐΉͱ 1JWPU͕ Γʹ͘͘ͳΔ 1JWPU ͷΓқ͞
ࢿۚௐୡֹͨ͠ ௐୡʹࢸΔ͞ ޭͷόϩϝʔλʔʹͳΒͳ͍ Α͋͘Δצҧ͍
࿈χϡʔεͳͲͰ େܕͷࢿۚௐୡ͕ใಓ͞ΕΔ͕ ͦΕʹΘ͞Ε͍͚ͯͳ͍
ۀظͷࠒɺ ࢿۚௐୡΛͤͣʹ ۀҕୗίϯαϧςΟϯάͳͲΛ ͯ͠ΩϟογϡϑϩʔΛ ճ͢ͷ༗ޮͳࢪࡦͰ͋Δ
UJNF ച্ߴ /PO 3FDVSSJOH 3FWFOVF 3FDVSSJOH 3FWFOVF ຊۀͰചΓ্͛ ཱ͕ͭॳظஈ֊ ۀҕୗίϯαϧͳͲ
ͰΩϟογϡϑϩʔΛ ੜΈग़͢ $PQZSJHIU.BTBZVLJ5BEPLPSP"MMSJHIUTSFTFSWFE
'BDFCPPLͷۀऀͷ ϚʔΫɾβοΧʔόʔά ্ཱͪ͛࣌ɺ ΩϟογϡϑϩʔΛ Α͘͢ΔͨΊʹɺ डୗ։ൃΛ͍ͯͨ͠
डୗ͔ΒεέʔϧΛͰ͖Δ߹ ۀքͰͷҐࣝΛಘΔ͜ͱ͕ Ͱ͖Δ߹ɺ डୗ։ൃਖ਼ԽͰ͖Δ
UJNF ച্ߴ /PO 3FDVSSJOH 3FWFOVF 3FDVSSJOH 3FWFOVF /PO3FDVSSJOH3FWFOVF ʢडୗίϯαϧςΟϯάʣ ݮΒ͍ͯ͘͠
$PQZSJHIU.BTBZVLJ5BEPLPSP"MMSJHIUTSFTFSWFE 3FDVSSJOH3FWFOVFʹ ຊϓϩμΫτ͔Βͷച্Λ ૿͍ͯ͘͜͠ͱʹϑΥʔΧεʂ
1SFTFFEظͷ൪େ͖ͳϦεΫɿ ਓ͕ཉ͕͠ΔͷΛ࡞ΕΔ͔ͷ ࣮ݧ͕ޭ͢Δ͔Ͳ͏͔ʁ
1SFTFFEظͷ̎൪ʹେ͖ͳϦεΫɿ ࠓޙϏδωεΛεέʔϧͤ͞ΔͨΊʹɺ ಉ͡ϏδϣϯΛ࣋ͪɺิతͳεΩϧɺ ܦݧΛ࣋ͭνʔϜΛͰ͖Δ͔ͷϦεΫ ͦΕʹؔ࿈͢ΔࢿຊࡦͷϦεΫ
4UBHF ϦεΫ ࣝ Ϩϕϧ ߴ͍ ͍ ߴ͍ ͍ 1SFTFFE 4FFE
4FSJFT" 4FSJFT# ॳظεςʔδʹஔ͍ͯɺ ࢿۚௐୡϑΝΠφϯεʹ ؔͯ͠ϦεΫ͕ߴ͍ʹ ؔΘΒͣɺࣝϨϕϧ͕͍ ʢॳظεςʔδʣ
ଟ͘ͷελʔτΞοϓ͕ ॳظͷגׂͷ࣌Ͱࣦഊ͍ͯ͠Δ
*EFBUJPO $1' 14' 1.' 554 4DBMF *10 1PTU *10 1SPEVDU
.BSLFU 'PVOEFS 5FBN 'JOBODF $1' 3JTL 'PVOEFS*TTVF'JU 3JTL *OJUJBM$BQJUBMJ[BUJPO 3JTL 'PVOEFS3FBEJOFTTϦεΫ 5FDI 'FBTJCJMJUZ 3JTL 1SPEVDU -BVODI 3JTL #VSO3JTL 1JWPU5PMFSBUJPO3JTL 1.' 3JTL 'PVOEJOH5FBN #VJMEJOH3JTL $PGPVOEFS4IBSF"MMPDBUJPO 3JTL 6OJU &DPOPNJDT 3JTL (SPXUI 3JTL )JSJOHSJTL *10 3JTL *10४උ 3JTL 4UPDL%JMVUJPO3JTL $POHMPNFSBUF %JTDPVOU3JTL 1PTU*10(SPXUI 3JTL %FGFOTJCJMJUZ#VJMEJOH3JTL 'PVOEFSUP$&0 5SBOTGPSN3JTL 1PTU*10)3 SJTL 4VDDFTT4UBUVT 2VP3JTL 0QFSBUJPOCMBDLCPY3JTL 4VDDFTTPS3JTL 1SFTFFE 4FFE 4FSJFT" 4FSJFT#d 1SF*10 $&01VCMJD'JHVSF 5SBOTGPSN3JTL 5BMFOU3FUFOUJPO3JTL 'VOESBJTJOH3JTL $VMUVSF#SFBL3JTL
1SF4FFE 4FFE 4FSJFT" 4FSJFT#d ʢεέʔϧΛࢦ͢ʣ 1SF*10 *10Λࢦ͢ʣ $1'14'Λࢦ͢ ʢ1.ୡΛࢦ͢ʣ ʢ6OJUFDPOPNJDT݈શԽʣ
1PTU*10 *10ޙͷʣ 4UBSUVQͷ ϑΣʔζຖ 3JTL $1'3JTL ॳظࢿຊࡦ3JTL 'PVOEFS*TTVF'JU3JTL 5FDIOJDBM'FBTJCJMJUZ3JTL 1SPEVDUMBVODI3JTL ۀνʔϜ3JTL 1JWPUUPMFSBUJPO3JTL 1.'3JTL 6OJU&DPOPNJDT3JTL 0QFSBUJPO#MBDLCPY3JTL $VMUVSF#SFBL3JTL )JSJOH3JTL 5BMFOU3FUFOUJPO3JTL %FGFOTJCJMJUZ#VJMEJOH3JTL &OUSFQSFOFVSUP$90USBOTGPSNSJTL $POHMPNFSBUF%JTDPVOU3JTL *103JTL *10ޙ3JTL
ڞಉۀऀؒͰ ͲͷΑ͏ʹ גΛׂ͢Δ͖͔ʁ
zגաڈͷྗͰͳ͘ কདྷͷྗʹج͍ͮͯ ͞ΕΔ͖ͩz #Z:$PNCJOBUPS
*EFBJTDIFBQ &YFDVUJPOJTFWFSZUIJOH ΞΠσΟΞͰͳ͘ ࣮ߦ &YFDVUJPO ͕ॏཁͰ͋Δ
z͋ͳͨ͜Ε͔Β ͜ͷࣄۀʹͲΕ͘Β͍ ίϛοτ͍ͯ͘͠ͷ͔ʁz ΛۀऀϝϯόʔؒͰ ͖ͪΜͱ͠߹͏
ڞಉ ۀऀ " ڞಉ ۀऀ # *EFBUJPO &YFDVUJPO ʢ&⒎PSU ΞΠσΟΞΛ
ڞಉۀऀ ೋਓͰ࡞ͬͨ
ڞಉ ۀऀ " ڞಉ ۀऀ # *EFBUJPO &YFDVUJPO ඞཁʹͳΔ ࣮ߦஈ֊ͷํ͕
ѹతʹଟ͍ ʢ&⒎PSU
ΩʔϚϯʹରͯ͠ ϞνϕʔγϣϯΛߴΊΔͨΊʹ ͦΕͳΓͷגΛ͢ඞཁ͕͋Δ ۀऀͷߴ͍Ϟνϕʔγϣϯ ͕ޭͷΩʔʹͳΔ
ΩʔϚϯͷג͕͍࣋ͪ ࢿຊࡦʢνʔϜʣ ࢿՈ͔ΒΈͯັྗతʹөΒͳ͍ ۀऀͷߴ͍Ϟνϕʔγϣϯ ͕ޭͷΩʔʹͳΔ
اۀͷ Ձ ۀ ϝϯόʔ ΞΠσΟΞ ΧελϚʔ ΠϯαΠτ ۀ࣌ʢ1SFTFFEʣͷ اۀՁ 7BMVF
اۀͷ Ձ ۀ ϝϯόʔ ΞΠσΟΞ ΧελϚʔ ΠϯαΠτ ۀظʢ1SFTFFEʣͷ اۀՁ ۀظʹධՁ͞ΕΔ
ཁҼͱͯ͠࠷ େ͖ͳׂ߹Λ కΊΔͷ͕ ۀϝϯόʔͰ͋Δ 7BMVF
l:PVSTUPSZJT:PVSTUSBUFHZz ͋ͳͨͷετʔϦʔ͕ ઓུͦͷͷʹͳΔ #FO)PSPXJU[
اۀͷ Ձ ΞΠσΟΞ ΧελϚʔ ΠϯαΠτ ۀظʢ1SFTFFEʣͷ اۀՁ ۀظʹධՁ͞ΕΔ ཁҼͱͯ͠࠷ େ͖ͳׂ߹Λ
కΊΔͷ͕ ۀϝϯόʔͰ͋Δ 7BMVF ετʔϦʔ ۀ ϝϯόʔ
ελʔτΞοϓͱ ܅͕ੈքΛม͑ΒΕΔͱ ܅͕ࣗઆಘͰ͖ͨਓͨͪ ͷू·Γͩ 1FUFS5IFJM 4UBOGPSE-BX4DIPPM-FDUVSF $PQZSJHIU.BTBZVLJ5BEPLPSP"MMSJHIUTSFTFSWFE 4UBSUVQ4DJFODF
ͳͥͦͦۀऀؒͰ גΛ͚Δͷ͔ʁ ᶃ ձࣾͷՁ্͕͕Δ΄Ͳɺۀϝϯόʔ͕ ࣋ͭגࣜͷՁʢࢿ࢈ʣ͕૿͑ΔͷͰɺࣄ ۀՁΛߴΊΔͱ͍͏ΠϯηϯςΟϒ͕ಇ ͘ ᶄ ࣄۀࢿ͕ۚ૿͑Δɻۀظɺ͓͕ۚͳ͍ ͷͰɺগֹͰ૿ࢿ͕͋Δͱେ͍ʹཱ
ͭɻ
͔͠͠ɺגΛ҆қʹଞਓʹ ͯ͠μϝͰ͋Δ
ɾஶ໊ͳਓ͕ΞυόΠβʔʹͳΔͷͰגΛ࣋ͬͯ͋ ͛Δͱ͍͏έʔε ɾ໘ݟͷྑ͍ਓʢྨͳͲʣ͕ѱؾͳ͘ɺ͓ۚΛ ग़ͯ͘͠Εͯɺଟ͘ͷגΛ࣋ͭέʔεʢҎ্ͷ ג ɾzࢿຊۚΛશͯग़͔͢ΒձࣾΛ࡞ͬͯΈͳ͍͞zͱ ݴΘΕΔέʔε Α͋͘Γ͕ͪͳࣦഊ
࠷ॳجຊతʹ ۀऀʢ߹ʹΑͬͯڞಉۀϝϯόʔʣ ͕ͷגΛ͖࣋ͭͰ͋Δ
ۀܦӦਞͷϦʔμʔ ͕େଟͷגΛ࣋ͭϝϦοτͱʁ ୭͔͕ఢʢύʔηϯτʣʹճͬͯ Ϧʔμʔ͕ձࣾͷॏཁࣄ߲ΛܾఆͰ͖Δ ୭͔த৺ʹͳΔਓ͕ѹతͳגΛ࣋ͭ͜ͱ͕·͠ ͍ɻͳͥͳΒࢿՈ͔Βݟͨ߹ɺઆ໌ͷॴࡏ͕Θ ͔Γ͍͢΄͏͕ίϛϡχέʔγϣϯίετ͕ݮΔ ڧ͍ϦʔμʔγοϓͱΦʔφʔγοϓΛ ୲อ͢Δ͜ͱ͕Ͱ͖Δ
ਓͰגΛۉʹׂͬͯ͠·͏߹
෦ΛγΣΞ͢Δͱ ڞ༻෦͕ࢄΒ͔ΔΑ͏ʹ גۉʹγΣΞ͢Δͱ ձࣾͷ౷੍͕ऑ͘ͳΓ ࣮ߦྗ͕Լ͕ͬͯ͠·͏
ձࣾΛද͢Δ$&0͕େଟΛ࣋ͭ දऀ $&0
ΦʔφʔγοϓΛ࣋ͭ ڧ͍Ϧʔμʔ͕͍Δͱ ౷੍͕ޮ͍࣮ͯߦྗ͕ͭ͘
ձࣾͷશΛෛ͏ $&0͕ඞཁͰ͋Δ $&0ձࣾͱӡ໋Λڞʹ͢Δ ࠷ޙͷࡆͰ͋Δ දͰ͋Δ$&0͕ձࣾͷ౷੍Λ Ѳ͍ͬͯΔํ͕ࢿΛड͚͘͢ͳΔ
ۀऀʹגΛ͚Δલʹ ߟ͑Δ͖ϙΠϯτ ڞಉۀऀͷגࣜৡొهఆมߋ ͷඞཁͳ͘औకձͰͷঝೝΛಘΕྑ ͍͚ͩͰ͋Δ ͔͠͠ɺखଓ͖͕؆ศ͔ͩΒͱ͍͏ཧ༝ͩ ͚Ͱ҆қʹબ͠ͳ͍ʂ
גׂࣜҎ֎ͷબࢶɺྫ͑ ɾετοΫΦϓγϣϯɺ ɾύϑΥʔϚϯε࿈ಈܕΠϯηϯςΟϒ ɾڅྉʹΑΔΠϯηϯςΟϒ ɹΛఏڙ͢Δ͜ͱ͕Ͱ͖ͳ͍͔Λߟ͑Δ ۀऀʹגΛ͚Δલʹ ߟ͑Δ͖ϙΠϯτ
ɾετοΫΦϓγϣϯͱ͍͏બࢶΛݕ౼ ɹखଓ͖ࡶ͕ͩߦ͞ΕΔ·ͰzגzʹͳΒͣɺ ɹגओͱͯ͠ͷܾٞݖൃੜ͠ͳ͍ ɾετοΫΦϓγϣϯͷ߹ɺैۀһ͕ୀ৬ͨ͠߹ɺ ɹձ͕ࣾҰํతʹແঈͰ৽ג༧ݖΛऔಘͯ͠ফ໓ͤ͞Δ ɹ͜ͱ͕Ͱ͖Δ͜ͱ͕Ͱ͖ΔʢຊͰҰൠతʣ ετοΫΦϓγϣϯΛ ׆༻͢Δ
ϦεΫΛආ͚ΔͨΊʹ ۀऀؒܖΛ݁Ϳ
ͳͥۀऀؒܖΛަΘ͢ͷ͔ʁ ࣄۀ͕ຊ֨తʹ։࢝ͨ͠ޙʹ େͨ͠ߩݙΛ͍ͯ͠ͳ͍ͷʹ zΩϟϐλϧήΠϯzΛಘͯ͠·͏ɻ ͭ·ΓzλμΓzʹͳͬͯ͠·͏ɻ ͦͷঢ়گΛճආ͢ΔͨΊʹɺ ۀऀؒܖΛަΘ͢
ڞಉ ۀऀ " ڞಉ ۀऀ # *EFBUJPO &YFDVUJPO ʢ&⒎PSU ΞΠσΟΞݕূͷ
ஈ֊ͰגΛׂ " # " #
ڞಉ ۀऀ " ڞಉ ۀऀ # *EFBUJPO &YFDVUJPO ࣮ߦஈ֊Ͱ શવίϛοτ
͠ͳ͍ ʢ&⒎PSU " # " #
ڞಉ ۀऀ " ڞಉ ۀऀ # *EFBUJPO &YFDVUJPO #ͷίϛοτϝϯτ͕ ͨ͠גͱ
ݟ߹Θͳ͍ɺɺ ʢ&⒎PSU " # " # " #
ۀऀؒܖͷϙΠϯτ ۀऀؒʹ͓͍ͯɺ୭͔͕Ίͨ߹ʹ͓͍ ͯɺΔۀऀ͕ΊͨਓͷגࣜΛങ͍औΕΔ ࢫΛ͋Β͔͡Ί߹ҙ͓ͯ͘͠ جຊ߹ҙ༰ɿ ͍̍ͭ݁Ϳ͔ʢ͕ྑ͍࣌ʹ݁Ϳʣ ̎୭ͱ୭ͷؒͰ݁Ϳ͔ʢۀऀؒͰ݁Ϳʣ ͍̏͘ΒͰങ͍औΕΔͱ͓͖͔ͯ͘͠ http://www.azx.co.jp/modules/docs/
ڞಉ ۀऀ " ڞಉ ۀऀ # *EFBUJPO &YFDVUJPO ʢ&⒎PSU "
# גΛׂ " # " # ۀऀؒ גओ ܖ ܖΛ݁Ϳ
ڞಉ ۀऀ " ڞಉ ۀऀ # *EFBUJPO &YFDVUJPO ʢ&⒎PSU #
̍ܦͭલʹ ʂ " # " #
ڞಉ ۀऀ " ڞಉ ۀऀ # *EFBUJPO &YFDVUJPO ʢ&⒎PSU "
# " # " " # " # " ۀऀؒܖ ͕͋Δͱ ۀऀ"ʹ ג͕Δ ۀऀؒ גओ ܖ
ڞಉ ۀऀ " ڞಉ ۀऀ # *EFBUJPO &YFDVUJPO ʢ&⒎PSU "
# " # " " # " # " #ͷגΛ ฦͯ͠Β͏ ίϛοτ͢Δ ۀऀʹ ג͕Δ
ۀऀܖͰ גΛϕεςΟϯάʢڅʣ ͢Δύλʔϯ
ϕεςΟϯάύλʔϯ ᶃॳΫϦϑ9.POUIMZϕεςΟϯά 5JNF גͷ ׂ߹ :FBS :FBS :FBS :FBS
QFSNPOUI ݟۃΊظؒ ڞಉۀऀ ͷίϛοτΛ ݟۃΊΔ
ϕεςΟϯάύλʔϯ ᶄຖΫϦϑ 5JNF גͷ ׂ߹ :FBS :FBS :FBS :FBS
ݟۃΊظؒ ڞಉۀऀ ͷίϛοτΛ ݟۃΊΔ
."͕ى͖ͨ࣌ͷ ϕεςΟϯάͷՃΛઃఆ͢Δ
ϕεςΟϯάͷՃ 4JOHMF5SJHHFSύλʔϯɹ ڞಉۀऀ͕ࣙΊͯ͠·ͬͨ࣌ʹɺϕεςΟϯ άΛՃ͢Δͱ͍͏ઃఆ ۀऀ͕ձࣾΛࣙΊͨ࣌Ͱɺձࣾʹର͢Δߩ ݙऴΘ͍ͬͯΔɻ͜ΕΛઃఆͯ͠͠·͏ͱɺ ձࣾʹΔಈػ͕ബ·Δ
ॳΫϦϑ9.POUIMZϕεςΟϯά 4JOHMFUSJHHFS"DDFMFSBUJPO 5JNF גͷ ׂ߹ :FBS :FBS :FBS :FBS
ݟۃΊظؒ τϦΨʔᶄ ." ͕ى͖ͨ ࣙͨ͠Β Γڅ
4JOHMF5SJHHFSͰ ձࣾͱۀऀʹͱͬͯෆརʹͳΔ ɹ%PVCMFUSJHHFSͰઃఆ͢Δ
ϕεςΟϯάͷՃ %PVCMFUSJHHFS 4JOHMF5SJHHFSͰͷΛղܾ͢ΔͨΊʹ4JOHMF5SJHHFSΛ Έ߹ΘͤΔͱ͍͏ࢪࡦɺͭ·ΓɺܦӦݖͷมߋ ." ͚ͩ Ͱͳ͘ɺܦӦݖͷมߋ͕ੜͨ͡ޙͷҰఆظؒʹཧ༝ͳ͘ ձࣾ XJUIPVUDBVTF ΛࣙΊͤ͞ΒΕͨΓɺਖ਼ཧ༝
HPPE SFBTPO ͰࣙΊΔ͜ͱʹͳͬͨ߹ɺ"DDFMFSBUJPOΛೝ ΊΔ ۀϝϯόʔΛकΔͨΊʹઃఆ͞Ε͍ͯΔɻങऩଆ͕ɺങऩ ޙʹ͙͢ʹटΛͬͯ͠·͏ͱɺגΛڅ͢Δඞཁ͕༗Δ
ॳΫϦϑ9.POUIMZϕεςΟϯά %PVCMFUSJHHFS"DDFMFSBUJPO 5JNF גͷ ׂ߹ :FBS :FBS :FBS :FBS
ݟۃΊظؒ ." ͕ى͖ͨ ࣙͨ͠Β Γڅ ͞Εͳ͍
ॳΫϦϑ9.POUIMZϕεςΟϯά %PVCMFUSJHHFS"DDFMFSBUJPO 5JNF גͷ ׂ߹ :FBS :FBS :FBS :FBS
ݟۃΊظؒ ." ͕ى͖ͨ ղޏʹͳͬͨ Βશͯڅ
ॳΫϦϑ9.POUIMZϕεςΟϯά %PVCMFUSJHHFS"DDFMFSBUJPO 5JNF גͷ ׂ߹ :FBS :FBS :FBS :FBS
ݟۃΊظؒ ." ͕ى͖ͨ ΩʔϚϯ͕࠷ޙ ·ͰΊ্͛ͯ 1.*ͷޭʹߩݙ
ϕεςΟϯά͞Εͳ͔ͬͨג Ͳ͏ͳΔͷ͔ʁ ϕεςΟϯά͞Εͳ͔ͬͨגɺݱߦͷ גओʹରͯ͠ɺϕεςΟϯά͞ΕΔɻϦ όʔεϕεςΟϯάͱݴͬͯɺגͷׂ߹Ͱ ϕεςΟϯά͞ΕΔʢ1SPSBUBϕʔεʣ
ۀऀܖʹ͓͚Δ ϕεςΟϯάઃఆͷϙΠϯτ ϙΠϯτ̍ɿϕεςΟϯάͨ͠ޙʹͦͷ··גΛ͍࣋ͬͯͨΒ ɹɹɹɹɹɹτϥϒϧ͕ى͖ΔՄೳੑ͕͋Δ ɹɹɹɹɹɾڝ߹اۀస৬ ɹɹɹɹɹɾ."छྨגͷൃߦͷ࣌ʹର͞ΕΔ ɹɹɹɹɹɾୀࣾޙʹࣾձྗͷҰһͱͳΓ&YJUʹࢧোΛ͖ͨ͢ ϙΠϯτ̎ɿύϑΥʔϚϯε͕ѱͯ͘ϕεςΟϯάظ͕ؒऴྃ ɹɹɹɹɹɹ͢Δ·ͰࣙΊͤ͞Δ͜ͱ͕Ͱ͖ͳ͍ ϙΠϯτɿ%PVCMFUSJHHFSͷઃఆ͢Δ
ɹɹɹɹɹɹτϦΨʔΠϕϯτͱݺΕΔࣄҊ͕ى͖ͨͱ͖ʹɺɹɹ ɹɹɹɹɹɹגͷϕεςΟϯάͷखଓ͖ΛՃͤ͞Δɻ
ۀऀܖͰ ଞʹཹҙ͢Δ͖ࣄ߲
ڞಉۀऀגओ͕ผͷձࣾͷܦӦΛ͢Δ͜ͱ͕͋ Δɻגओͱͯ͠ɺձࣾͷӡ໋ڞಉମͱͯ͠ࢀ༩͢Δ ͜ͱʹͳΔɻ ͦͷձࣾͱڝۀ͢ΔՄೳੑͷ͋Δاۀͷһैۀ һͱͯ݉͢͠Δ߹ɺදऔకͷڐՄΛಘΔ ඞཁ͕͋Δ ڝۀېࢭ߲Λ͚ͭΔ
Ծʹڞಉۀऀ͕ୀ৬ͨ͠߹ɺ ಉ͡Α͏ͳࣄۀΛ࢝ΊΒΕͯɺ ϚʔέςΟϯάϊϋͳͲʹ͍ͭ ͯ౪༻͞Εͯ͠·͏ϦεΫΛ͙ͨΊ ͳͥڝۀېࢭ߲ Λ͚ͭΔͷ͔ʁ
zࠓͷ༑໌ͷఢz ʹͳΓಘΔ ۀऀؔܖ ੑѱઆʹجͮ͘
ελʔτΞοϓɺܦӦΛଓ͚͍ͯ͘தͰɺଞͷձ͔ࣾ Βങऩͷ͕࣋ͪࠐ·ΕΔ͜ͱ͕͋Δɻͦͷ࣌ʹɺҰ ෦ͷגࣜΛอ༗͢Δڞಉۀऀ͕ରͨͨ͠ΊʹɺͲ ͷσΟʔϧ͕࠳ͯ͠͠·͏ϦεΫ͕͋Δɻ ͦΕΛආ͚ΔͨΊʹɺڞಉۀऀגओɺಉҰͷങ ͍खʹגΛച٫͢Δ͜ͱΛٻͰ͖ΔݖརΛ༩͢Δ ͜ͱ͕༗ޮͰ͋Δɻ ڧ੍ച٫ݖ ʢ%SBH"MPOH߲ʣΛ͚ͭΔ
$PQZSJHIU.BTBZVLJ5BEPLPSP"MMSJHIUTSFTFSWFE 4UBSUVQ4DJFODF ങ͍ख ചΓ͍ͨ ڧ੍ച٫ݖͳ͠ ചΓͨ͘ͳ͍ ۀऀ# ۀऀ$
ۀऀ" ελʔτΞοϓΛ ങ͍͍ͨ 9 גͷৡ Ͱ͖ͳ͍ ചΓ͍ͨ
$PQZSJHIU.BTBZVLJ5BEPLPSP"MMSJHIUTSFTFSWFE 4UBSUVQ4DJFODF ങ͍ख ചΓ͍ͨ ڧ੍ച٫ݖ͋Γ ചΓͨ͘ͳ͍ ͚Ͳڧ੍తʹ ചΔඞཁ͕͋Δ ۀऀ#
ۀऀ$ ۀऀ" ελʔτΞοϓΛ ങ͍͍ͨ ചΓ͍ͨ גͷৡ͕ Ͱ͖Δ
ڧ੍ച٫ݖ ʢ%SBH"MPOH߲ʣͷ݅ ᶃۀגओ͕ࣙΊͨͱ͖ʹۀ͕ࣾങ͍औΔͱ͍͏ લఏʹ͢Δ ᶄΊΔۀגओ͔Βങ͍औΔגՁɺΊͨ࣌Ͱ ͷגՁ͕͍͘ΒͰ͋Ζ͏ͱग़ࢿ࣌ͷՁͰങ͍औΔ͜ ͱʹ͢Δ ᶅͦΕ·ͰԿۈΊΑ͏ͱɺ্͋Δ͍ɺ."ʹ ΑΔ&9*5͕ܾ·ΔલʹࣙΊͨΒɺ͍࣋ͬͯΔશͯͷג Λങ͍औΓରʹ͢Δ
http://thebridge.jp/2014/05/co-funder-contract-akiyukiminami-guest-post
גࣜͷҠಈ ੫্ͷϦεΫ͕͏͜ͱΛཹҙ͢Δ ձࣾͷՁ͕େ͖͘ͳͬͨ࣌ʹ ੫্ͷϦεΫʢ՝੫ʣ ͕ൃੜ͢Δ http://tokyo-startup.com/cap1
גࣜͷҠಈ ੫্ͷϦεΫ͕͏͜ͱΛཹҙ͢Δ ສͷ࣌ՁͷגࣜΛɺࣙΊΔϝϯόʔ͕ औಘՁֹͰ͋ΔສԁͰࣾʹৡ͢Δ࣌ ʹɺͦͷֹࠩͷສԁଃ༩੫ͷରͱ ͳΓɺສԁͷ੫͕ۚൃੜͯ͠͠·͏ http://tokyo-startup.com/cap1
*EFBUJPO $1' 14' 1.' 554 4DBMF *10 1PTU *10 1SPEVDU
.BSLFU 'PVOEFS 5FBN 'JOBODF $1' 3JTL 'PVOEFS*TTVF'JU 3JTL *OJUJBM$BQJUBMJ[BUJPO 3JTL 'PVOEFS3FBEJOFTTϦεΫ 5FDI 'FBTJCJMJUZ 3JTL 1SPEVDU -BVODI 3JTL #VSO3JTL 1JWPU5PMFSBUJPO3JTL 1.' 3JTL 'PVOEJOH5FBN #VJMEJOH3JTL $PGPVOEFS4IBSF"MMPDBUJPO 3JTL 6OJU &DPOPNJDT 3JTL (SPXUI 3JTL )JSJOHSJTL *10 3JTL *10४උ 3JTL 4UPDL%JMVUJPO3JTL $POHMPNFSBUF %JTDPVOU3JTL 1PTU*10(SPXUI 3JTL %FGFOTJCJMJUZ#VJMEJOH3JTL 'PVOEFSUP$&0 5SBOTGPSN3JTL 1PTU*10)3 SJTL 4VDDFTT4UBUVT 2VP3JTL 0QFSBUJPOCMBDLCPY3JTL 4VDDFTTPS3JTL 1SFTFFE 4FFE 4FSJFT" 4FSJFT#d 1SF*10 $&01VCMJD'JHVSF 5SBOTGPSN3JTL 5BMFOU3FUFOUJPO3JTL 'VOESBJTJOH3JTL $VMUVSF#SFBL3JTL
ϕϯνϟʔ੫ʹৄ͍͠ ੫ཧ࢜ΛΞυόΠβʔʹ͢Δ
ϕϯνϟʔ๏ʹৄ͍͠ หޢ࢜ΞυόΠβʔʹ͢Δ
ձࣾઃཱ࣌ͷཹҙ
ձࣾઃཱ࣌ͷཹҙᶃී௨גͷൃߦ ɾొه͢Δࡍʹఆ্ͰɺגࣜͷൃߦΛઃఆ͢Δ ɾొهͷࡍʹɺ࠷Ͱສגʙສגൃߦ͢Δ ʢγϦίϯόϨʔͩͱສגສגΛൃߦ͢Δ έʔε͋Δʣ ˠגΛ͚ͨ࣌ʹɺ৺ཧతͳ࡞༻ͱͯ͠ɺ ઍג͋Δ߹ͷ΄͏͕ɺג͔͠ͳ͍߹ʹൺͯ ϚΠϯυʹΊΔׂ߹͕େ͖͘ͳΔ͔Β ɾ࠷ॳʹגͷൃߦ͕গͳ͍ͱ͙͢ʹגͷׂखଓ͖ ͕ඞཁʹͳΔɻ
http://thebridge.jp/2014/05/co-funder-contract-akiyukiminami-guest-post
ձࣾઃཱ࣌ͷཹҙᶄࢿຊۚ ɾࢿຊۚͱɺ࠴ݖऀʢۜߦͳͲ͕ճऩΛͨ͘͢͠ ΊͷόϑΝϦϯάͱͯ͠ઃ͚Δɻ͔͠͠ελʔτΞο ϓ࠴ݖऀͰͳ͘ɺגओʢग़ࢿऀʣͷͨΊʹ͋Δͷ Ͱɺࢿຊ͕ۚ͋Δ͜ͱ͕ձࣾגओͷಘʹͳΒͳ͍ ɾࢿຊ͕ۚେ͖͘ͳΔͱɺొ໔ڐ੫େ͖͘ͳΔ ফඅ੫๏ਓ੫ࢿຊ͕ۚখ͍͞ํ͕༗རͰ͋Δ ˠձࣾઃཱ࣌ʹ͓͍ͯ zͳΔ͘ࢿຊۚΛݮΒͤͳ͍͔zΛߟ͑ͯΈΔ
ձࣾઃཱ࣌ͷཹҙᶅͦͷଞ ɾ7$͔ΒࢿۚௐୡΛࢹʹೖΕ͍ͯΔελʔτΞοϓɺ7$͔Β͓ ۚΛೖΕ͍͢ظؒߏΛબ͓ͯ͘͠ͷ͕Α͍ ˠఆมߋʹΑΔหޢ࢜අ༻ొهมߋඅ༻ͳͲઅ͕Ͱ͖ͯޮత ɾऔకձΛઃஔ͢Δ ˠ͜Ε͕ͳ͍ͱɺදऀʹର͢Δ༗ޮͳݗ੍͕ಇ͖ͮΒ͘ͳΔʢऔక ձʹ໊̏ඞཁʹͳΔʣ ɾࠪΛஔ͘ ˠ7$ɺϞχλϦϯάͷखஈͱͯ͠ࡒॾදͷ࡞ΛҰఆతʹٛ ͚͍ͮͯΔɻͦΕ͕ਖ਼֬ʹ࡞͞ΕΔ͜ͱΛ୲อ͢ΔͨΊʹɺࠪΛ
ٻΊΔɻʢຊͷݱߦձࣾ๏ͰऔకձΛஔ͍ͨΒ࣌ͰࠪΛ ஔ͘ඞཁ͕͋Δʣ
औకͷظؒΛ͘͢Δ ʢଛഛঈϦεΫʹ͑ΔͨΊ ਖ਼ͳཧ༝͕ͳ͍ͱଛഛঈΛٻ ͢Δ͜ͱ͕Ͱ͖Δʣ
औకղޏొهʹࡌΔ͕ ࣥߦһͷղޏొهʹࡌΒͳ͍
ظຬྃͰ ෆ࠶ʹ͢Δ ʢొهʹࡌΔͷͰ ղΛආ͚Δʣ
ᶃۀظϑΝΠφϯε ᶄࢿຊࡦ&RVJUZ4UPSZͷ࡞Γํ ᶅ&9*5 *10." ͷཧղ ᶆ͓ۚͷूΊํ ᶇࢿۚௐୡϐονͷۃҙ ᶈ7$ަবͷۃҙ ຊͷΞδΣϯμ
ࢿຊࡦ &RVJUZ4UPSZ Λݕ౼͢Δ
ࢿຊࡦͱ தظతͳࣄۀܭըΛલఏʹɺגओߏɺ ൃߦגࣜɺࢿۚௐୡͳͲʹ͍ͭͯɺݕ౼ ͠ɺ͍ͭɺ୭ʹɺͲͷΑ͏ͳख๏Ͱɺ࣮ࢪ ͍͔ͯ͘͠Λܭը͍ͯ͘͠ࡒઓུͷ͜ͱ
ࢿۚ ܦӦݖ τϨʔυΦϑͷؔʹ͋Δ ࢿۚͱܦӦݖͷόϥϯεΛͱΔ ࠷దͳετʔϦʔΛ࡞Δ͜ͱ ࢿຊࡦ
ɾࢿۚௐୡΛదͳλΠϛϯάͰదͳਓʢ৫ʣ͔Βద ͳํ๏Ͱߦ͏ͨΊˠࢿۚௐୡ͕͘͢͠ͳΔʂ ɾεϐʔυײͷ͋ΔҙࢥܾఆΛ͢ΔͨΊͷ҆ఆגओͷ֬อ ɾߴ͍ϞνϕʔγϣϯΛҡ࣋͢ΔͨΊͷۀऀར५ͷ֫ಘ ɾ༏लͳैۀһΩʔύʔιϯͷΠϯηϯςΟϒΛ֬อ ɾ*10 &9*5 ʹ͚ͯެ։ࢢͷܗࣜج४Λຬͨ͢͜ͱΛ ݕূ ͳͥࢿຊࡦΛߦ͏ͷ͔ʁ
ࢿຊࡦɺݪଇͱͯ͠ ޙΓ͕ޮ͔ͳ͍ɻגࣜגओ͕ ์غͰ͖ΔͷͰͳ͘ɺ ຊͷגࣜձࣾͰɺձࣾ๏ͷࡒݯن੍ͷ खଓ͖ʹଇΒͳ͚ΕͳΒͳ͍
ঢ়ଶΰʔϧΛॻ͘ͱ͖ ελʔτΞοϓ͕໘͢Δ ϦεΫͱΦϙνϡχςΟʔΛҙࣝ͢Δ
ϦεΫΦϙνϡχςΟʔͷνΣοΫϦετ ✔ɹ$VTUPNFS1SPCMFN'JU3JTL ՝Λݟ͚ͭΔ͜ͱ͕Ͱ͖Δ͔Ͳ͏͔ͷϦεΫ ✔ɹ1SPCMFN4PMVUJPO'JU3JTL ͋Δ͖ιϦϡʔγϣϯΛݕূͰ͖Δ͔ͷϦεΫ ✔'PVOEFSSFBEJOFTT3JTL ۀऀ͕ελʔτΞοϓͷجຊతͳܕΛԡ͍͑ͯ͞Δ͔ͷϦεΫʣ ✔ɹ'PVOEFS*TTVF'JU3JTL
ۀऀͱ՝͕߹͍ͬͯΔ͔ͷϦεΫʣ ✔ *OJUJBM$BQJUBMJ[BUJPO3JTL ॳظͷࢿຊࡦϦεΫʣ ✔ɹ5FDIOJDBM'FBTJCJMJUZ3JTL ٕज़తʹ࣮ݱՄೳ͔ͷϦεΫʣ ✔ɹ1SPEVDUMBVODI3JTL ϓϩμΫτΛϩʔϯνͰ͖Δ͔ͷϦεΫʣ ✔ɹ'PVOEJOH5FBN#VJMEJOH3JTL ίΞϝϯόʔΛͰ͖Δ͔ͷϦεΫʣ ✔ɹ1JWPU5PMFSBUJPO3JTL ϐϘοτʹ͑ΕΔ͔ͷϦεΫʣ ✔ɹ1SPEVDUNBSLFUpU3JTL ਓ͕ཉ͕͠ΔͷΛ࡞ΕΔ͔ͷϦεΫʣ ✔ɹ1SPEVDU5SBDUJPO3JTL ϓϩμΫτͷτϥΫγϣϯ͕͋Δ͔ͷϦεΫʣ ✔ɹ6OJU&DPOPNJDT3JTL 6OJU&DPOPNJDTΛୡͰ͖Δ͔ͷϦεΫʣ ✔ 0QFSBUJPOCMBDLCPY3JTL ۀ͕ϒϥοΫϘοΫεԽͯ͠͠·͏ϦεΫʣ ✔ $VMUVSF#SFBLSJTLʢΧϧνϟʔ͕յΕͯ͠·͏ϦεΫʣ ✔ ɹ4DBMFʢ(PUPNBSLFUԣల։ʣΦϙνϡχςΟʔɹʢ1.'ୡͨ͠ͷΛԣల։Ͱ͖Δ͔ ✔ 4DBMF 1SPEVDUSPBENBQ ΦϙνϡχςΟʔʢܧଓͯ͠͞ΔϓϩμΫτ࡞ΕΔ͔ʣ ✔ ɹ4DBMF )JSJOH ϦεΫɹʢࣄۀ֦େͷͨΊʹਓΛ࠾༻Ͱ͖Δ͔ʣ ✔ ɹ4DBMF %FGFOTJCJMJUZCVJMEJOHڝ߹ഉআ ϦεΫʢޚนΛங͖ڝ߹Λഉআ͢Δ͜ͱ͕Ͱ͖Δ͔ʁʣ ✔ ɹ'PVOEFSUFBNUP$90USBOTGPSN3JTL ىۀՈ͔ΒܦӦऀʹͳΕΔ͔ʣ ✔ ɹ$POHSPNBSJU%JTDPVOUϦεΫʢϙʔτϑΥϦΦܦӦΛͨ࣌͠ʹࣄۀؒͷγφδʔ͕͋Δ͔ʣ ✔ ɹ*10ϦεΫʢ*10Ͱ͖Δ͔ɺ*10લͷμϯϥϯυʹ͕͑͏Δ͔ʁʣ ✔ 1PTU*10(SPXUIΦϙνϡχςΟʔʢ্ޙʹ͢ΔͨΊͷ6QTJEFΛࠐΜͰ͍Δ͔ʣ 1SF TFFE 4FFE 4FSJFT "d# 4FSJFT $d
1SF4FFE 4FFE 4FSJFT" 4FSJFT#d ʢεέʔϧΛࢦ͢ʣ 1SF*10 *10Λࢦ͢ʣ $1'14'Λࢦ͢ ʢ1.ୡΛࢦ͢ʣ ʢ6OJUFDPOPNJDT݈શԽʣ
1PTU*10 *10ޙͷʣ 4UBSUVQͷ ϑΣʔζຖ 3JTL $1'3JTL ॳظࢿຊࡦ3JTL 'PVOEFS*TTVF'JU3JTL 5FDIOJDBM'FBTJCJMJUZ3JTL 1SPEVDUMBVODI3JTL ۀνʔϜ3JTL 1JWPUUPMFSBUJPO3JTL 1.'3JTL 6OJU&DPOPNJDT3JTL 0QFSBUJPO#MBDLCPY3JTL $VMUVSF#SFBL3JTL )JSJOH3JTL 5BMFOU3FUFOUJPO3JTL %FGFOTJCJMJUZ#VJMEJOH3JTL &OUSFQSFOFVSUP$90USBOTGPSNSJTL $POHMPNFSBUF%JTDPVOU3JTL *103JTL *10ޙ3JTL
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