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ເͷήʔϜ։ൃ΁ͷಓ גࣜձࣾίʔϧυɾϑϡʔδϣϯ ςομʔɹϚΠέϧ
 5FDIOJDBM%JSFDUPS$&0 ࡳຈ*5ͻΑ͜ձ ೥݄೔ ౔ EFWQJZP

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ג ίʔϧυɾϑϡʔδϣϯ୅දऔక໾
 5PLZP%FNP'FTUϝΠϯओ࠵ऀ
 ࡳຈ஍ҬΫϥ΢υަྲྀձελοϑ ςομʔɹϚΠέϧ ࡀ EFWQJZP ࣗݾ঺հ

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ג ίʔϧυɾϑϡʔδϣϯ୅දऔక໾
 5PLZP%FNP'FTUϝΠϯओ࠵ऀ
 ࡳຈ஍ҬΫϥ΢υަྲྀձελοϑ ςομʔɹϚΠέϧ ࡀ ग़਎ΞϝϦΧ ϑϩϦμभΦʔϥϯυࢢ དྷ೔೥݄ ೥લ ݴޠ$(-4-1)15ZQF4DSJQU झຯσϞγʔϯνοϓνϡʔϯ73 EFWQJZP ࣗݾ঺հ

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ςομʔɹϚΠέϧ
 5FDIOJDBM%JSFDUPS$&0
 ๺ւಓࡳຈࢢ EFWQJZP ෱ຊɹষ
 %FTJHO"SU%JSFDUPS
 ౦ژ౎ &JLFl3PNFP,OJHIUz4UF⒎FO
 .VTJD4PVOE%JSFDUPS
 υΠπɹσϡοηϧυϧϑࢢ

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ࡀͷ࣌ ೥ ͔Β࢝ΊΔɾɾɾ EFWQJZP ࣗ෼͕าΜͩಓ

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.I[$16,#3". #"4*$ϨϑΝϨϯεઆ໌ॻ෇͖ ࠷ॳ͔Β࠷ޙ·ͰҰؾʹಡΜͩ ݄ץࡶࢽͷϓϩάϥϜΛશͯೖྗ ίʔυฤू είΞ૿΍͢ Ͱ#"4*$Λ֮͑ͨ EFWQJZP ࡀͰ5*"

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.I[$16,#3". #"4*$ϓϩάϥϛϯάͰ࢝ΊΔ ήʔϜ΋༡ͼ·ͬͯͨ͘ ͳͥ#"4*$͸ήʔϜ΄ͲͷάϥϑΟοΫ͕
 ग़ͤͳ͍ͷٙ໰ EFWQJZP ࡀͰ"QQMF**F

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#FBHMF#SPTͷγϣʔτίʔυ͕
 ຐ๏ͳΑ͏ʹ໘ന͍
 ͓ӄͰΞηϯϒϥΛ༡ͼ࢝ΊΔ ݄ץࡶࢽͷϓϩάϥϜͰॳΊͯ%ϨϯμϦϯά
 ઢͷΈදࣔ ʹײಈ EFWQJZP ࡀͰ"QQMF**F

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ϚϦΦɺθϧμɺѱຐ৓υϥΩϡϥɺ
 ϑΝΠφϧɾϑΝϯλδʔɺ
 ໊࡞͕͍ͬͺ͍
 ʮ৴௕ͷ໺๬ʯͰ೔ຊͷઓࠃ࣌୅ʹڵຯ͕༙͘ ͍͔ͭ೚ఱಊͰήʔϜ࡞Γ͍ͨ EFWQJZP ࡀͰϑΝϛίϯ

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ࡀ͔Β1$%04࣌୅ $PNQBR%FTLQSPF7("
 .I[$16.#3". 1BTDBMݴޠΛࣗΒֶͿ CQTϞσϜͰ##4ͱ
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ࡀ͔Β1$%04࣌୅ ߴߍͷઌੜͷ௚઀૬ஊͰ$ݴޠΛݸਓษڧ σϞγʔϯͱग़ձ͏ ೔ຊޠͰ͸ʮϝΨσϞʯ ಈը࠶ੜͰ͸ͳ͘ɺ
 Χοί͍͍ΤϑΣΫτΛ
 ϦΞϧλΠϜܭࢉͰදࣔ EFWQJZP 4FDPOE3FBMJUZ'VUVSF$SFX ೥

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ࡀͰߴଔɾೖֶ ˠˠ1FOUJVN্ʑʹΞοϓάϨʔυ ࣗ࡞##4ιϑτΛ$ݴޠͰ࡞੒ LCQTϞσϜͰμΠΞϧΞοϓ 111 Ͱ
 Πϯλʔωοτ࢝ΊΔ EFWQJZP

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ࡀͰେֶͱ73 େֶΠϯλʔϯͷ࢓ࣄͰ4(*ͱ%&$"MQIBΛ࢖ͬͯ
 73ͱϦΞϧλΠϜ%ϨϯμϦϯάΛ࢝ΊΔ 7JSUPQJBͱ͍͏73σϞʹ%ΦʔσΟΦΤϯδϯ࡞੒ɺ 4*((3"1)ʹలࣔ
 
 EFWQJZP

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ήʔϜձࣾʹೖΔน ౰࣌͸ܦݧͳ͠ͰήʔϜձࣾʹೖΔݫ͍࣌͠୅ ࣗ෼͸ݸਓͰήʔϜ࡞ͬͨ͜ͱ͕·ͩͳ͔ͬͨ
 Ͳ͔ͬͪͱ͍͏ͱγεςϜπʔϧଆ Ͳ͏׆͔ͤΔ͔ɾɾɾ EFWQJZP

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ήʔϜձࣾʹೖΔน ϑΝϛίϯεʔϑΝϛͷΤϛϡϨʔλ͕ग़ճͬͯͯɺ
 1$ͰͪΌΜͱ༡΂Δʹͼͬ͘Γ ೚ఱಊͰ%ήʔϜ͔ͳΓָ͠ΜͰͨ ೚ఱಊͷΤϛϡϨʔλ͸͢΂ِͯ෺࡞඼ ੈքॳͷ೚ఱಊͷΤϛϡϨʔλΛ࡞Δͬʂ
 EFWQJZP

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ήʔϜձࣾʹೖΔน 1SPKFDU6O3FBMJUZΛ࡞ͬͯΈͨ
 
 
 
 ;"YJTͱ͍͏ήʔϜձ͔ࣾΒ੠͔͚ΒΕɺೖࣾ EFWQJZP 8JLJQFEJBʹ΋ܝࡌ

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ήʔϜձࣾʹೖͬͨʂ ເ͕׎ͬͨʂ EFWQJZP

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;"YJTࣾʹͯ EFWQJZP 143PMMFSCBMM 14/1$4QBDF*OWBEFST
 
 


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೔ຊ΁དྷ೔ EFWQJZP ͪΐ͏Ͳ೥Ͱ14͕ൃച ήʔϜۀքͷத৺ͱ͍͑͹೔ຊ िؒͷ༗ٳΛऔΓɺ೥݄ʹ౦ژ΁ ཱྀߦதʹࣾͱ໘઀ɺ"J$VCFͱ͍͏ձࣾʹೖࣾ


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"J$VCFࣾʹͯ EFWQJZP 14ͷ%Τϯδϯϛυϧ΢ΣΞʮ9FJPTʯΛ։ൃ ιχʔࣾґཔͰʮ(4DVCFʯʹ9FJPTΛରԠ
 
 


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"J$VCFࣾʹͯ EFWQJZP 4PGU*NBHFࣾͱ.BOFY7JTVBM&⒎FDUTࣾͱ૊ΜͰɺ
 4*((3"1)ʹϦΞϧλΠϜʮϚτϦοΫεʯΛలࣔ
 
 
 


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(FOJVT4POPSJUZࣾʹͯ EFWQJZP ౦ژʹ͋Δ೚ఱಊͷࢠձ͕ࣾ೥ʹઃཱ %SBHPO2VFTU.PUIFSͷ༗໊࡞ऀ͕࢝Ίͨձࣾ ήʔϜΩϡʔϒͰϝΠϯγεςϜ։ൃ%Τϯδϯ୲౰ ࣾ಺ͷΤϑΣΫτͱΞχϝʔγϣϯπʔϧΛ࡞੒


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(FOJVT4POPSJUZࣾʹͯ EFWQJZP ϙέϞϯίϩγΞϜϙέϞϯ9%ҋͷટ෩Λ࡞੒
 
 
 
 
 ෱ຊ͞Μ άϥϑΟοΫσβΠφʔ ͸
 ࠓޙίʔϧυɾϑϡʔδϣϯͰҰॹʹήʔϜ࡞Δ

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೥ʹԭೄ΁ΰʔʂ EFWQJZP ౦ژͷਓͷଟ͞ʹർΕɺ΋ͬͱΏͬ͘Γͳੜ׆͸ͨ͘͠ͳͬͨ ͨͩɺήʔϜۀք͔Β཭Εͯ͠·͏ ͍͔ͭࣗ෼ͷήʔϜձࣾΛ࡞Ε͹Α͍ %ؔ܎։ൃͷ࢓ࣄɺϦϞʔτϫʔΫΛ͠ͳ͕Βɺ
 ࣗ෼ͷձࣾͷͨΊʹ΋ϓϩάϥϛϯά


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Α͏΍͘๏ਓԽ EFWQJZP ΞϝϦΧͷձࣾͱ࢓ࣄͷґཔΛड͚ͯɺ೥݄ʹ גࣜձࣾίʔϧυɾϑϡʔδϣϯΛઃཱ
 "84ͷ((ΠϯελϯεͰߴ଎%ϨϯμϦϯάͷ ΤϯδϯΛ։ൃ


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೥ʹࡳຈ΁ EFWQJZP ԭೄ͸៉ྷɺΏͬ͘Γͳੜ׆͸Ͱ͖ͨ ͚Ͳɺౡ͸ڱͯ͘Ұ೥த͸΄΅ॵ͍ Ԟ͞Μͷ࣮Ո͕೔ߴͳͷͰࡳຈ͔Β͍ۙ ͱʹ͔͘৽઱ͳڕ͕͓͍͍͠


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೥ʹࡳຈ΁ EFWQJZP ೥ʹ0DVMVT3JGUରԠʮ734QPSUT$IBMMFOHFʯΛ։ൃ
 
 
 
 


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ͦͯ͠ಠཱ΁ EFWQJZP ೥݄Ͱ׬શಠཱ͠ɺ΍Γ͍ͨ͜ͱ͚ͩʹ ूதΛܾҙ
 ೥ؒۙ͘ͷήʔϜΤϯδϯ։ൃϊ΢ϋ΢Λ
 ׆͔͢΂͖

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ͦͯࣗࣾ͠Τϯδϯ։ൃ EFWQJZP ೥ؒͰϚϧνϓϥοτϑΥʔϜ 8JOEPXT-JOVYNBD04 J04"OESPJE ͷϦΞϧλΠϜ%ΦʔσΟΦωοτϫʔΫ
 ΤϯδϯɺϏϧυύΠϓϥΠϯɺΠϯϑϥΛθϩ͔Β࡞੒
 
 
 ೥݄ͷը૾

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ͦͯ͠ήʔϜ։ൃ EFWQJZP ೥ͷ౦ژήʔϜγϣ΢ʹग़ల͍ͨ͠ʂ
 େ޷͖ͳϐΫϩεͷύζϧήʔϜΛରઓܕʹ
 ߟ͑ͯΈͨ

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౦ژήʔϜγϣ΢ʹग़లʂ EFWQJZP ໿ϲ݄ͷ։ൃظؒͰ
 ΫϦελϧɾΫϥογϡΛ
 ࡞੒͠ɺग़లͱಉ࣌ʹ
 J04ͱ"OESPJE൛Λ
 ೥݄ʹެ։഑৴

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ϝσΟΞܝࡌ EFWQJZP ೥݄)5#๺ւಓςϨϏ์ૹʮͯͭͨ͘ϋ΢εʯ
 
 
 
 


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ϝσΟΞܝࡌ EFWQJZP ೥݄(PPHMF1MBZ*OEJF(BNFT'FTUJWBMʹͯ
 ʮτοϓʯΛड৆
 
 
 
 


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ϝσΟΞܝࡌ EFWQJZP ೥݄౦ژήʔϜγϣ΢ʹ
 /JOUFOEP4XJUDI൛Λలࣔ ϑΝϛ௨ΠϯσΟʔ෦໳
 ʮ5(4ϝσΟΞΞϫʔυʯʹϊϛωʔτ
 
 
 


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ເΛ࣋ͬͯΔํʁ EFWQJZP /FWFSHJWFVQ Ͳͷ͘Β͍ਂ͍୩ʹೖͬͯ΋ࣗ෼Λ৴ͯ͡ؤுΔ ͕͔͔࣌ؒͬͯ΋Α͍ɺ͍͔ͭͦͷເ͸׎͏
 


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ࢲ͸·ͩ·ͩͻΑ͜ EFWQJZP ਓੜ͸ษڧ͠ଓ͚Δ͜ͱ ੈք͸ӬԕʹมΘ͍ͬͯ͘
 ͨͬͨ೥લ͸J1IPOFൃച೔ɺ೥ޙ͸ʁ ࠷৽ͷςΫϊϩδʔϓϥοτϑΥʔϜʹ௅ઓͯ͠ΈΔͱ
 ৽͍͠ಓ͕։͔͘΋ʁ ؔ܎͢ΔΠϕϯτ΍ηϛφʔʹࢀՃͯ͠޿͛Δ ͨͩɺࣗ෼ʹ߹ͬͯΔ΋ͷ͚ͩʹूத͢Δ

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EFWQJZP ເʹ޲͔ͬͯؤுΓ·͠ΐ͏ʂ
 


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EFWQJZP ͝ਗ਼ௌ͋Γ͕ͱ͏͍͟͝·͢ʂ