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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. ͸͡Ίʹʛฤूऀษڧձͷ໨త ❏ ฤूऀͱͯ͠ͷϚΠϯυηοτ ❏ ίϯςϯπ੍࡞ͷςΫχοΫΛ਎ʹ͚ͭΔ ❏ ΫϥΠΞϯτͷ՝୊ղܾྗΛ਎ʹ͚ͭΔ ࣮ફతͳςΫχοΫ΍ํ๏࿦͸ɺඞཁͱ ͢Δݸਓ͕ࠩ͋ΔͷͰɺϦΫΤετͨ͠ ΋ΜউͪͰ͢ɻ ʢ΋ͪΖΜɺςʔϚબఆ͸શମͷόϥϯ εΛݟܾͯΊ·͕͢…ʣ

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. ฤूऀͷεΩϧͷੵΈ্͛ ଟ͘ͷਓΛר͖ࠐΉ͜ͱ͕Ͱ͖Δ දݱྗʴ؍࡯ྗΛ૊Έ߹ΘͤΔͱɺपғͷ஫໨ΛूΊΔํ๏͕ Θ͔Δ ໛฿ྗͱϞϊαγͷجຊΛൃలͤ͞ɺ ζϥͨ͠ΓΞϨϯδ͢Δɺ๛͔ͳදݱྗ͕਎ʹͭ͘ ஌ݟʹΑΔࣗ෼ͷج४͕Ͱ͖ΔͱɺมԽͷΩβγݟ͚ͭΔ ޷ح৺͕͋Δͱɺਓʑ΍ੈͷதΛΑ͘ݟͯɺ؍࡯ྗ͕਎ʹͭ͘

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. ฤूऀͷεΩϧͷੵΈ্͛ ଟ͘ͷਓΛר͖ࠐΉ͜ͱ͕Ͱ͖Δ දݱྗʴ؍࡯ྗΛ૊Έ߹ΘͤΔͱɺपғͷ஫໨ΛूΊΔํ๏͕ Θ͔Δ ໛฿ྗͱϞϊαγͷجຊΛൃలͤ͞ɺ ζϥͨ͠ΓΞϨϯδ͢Δɺ๛͔ͳදݱྗ͕਎ʹͭ͘ ஌ݟʹΑΔࣗ෼ͷج४͕Ͱ͖ΔͱɺมԽͷΩβγݟ͚ͭΔ ޷ح৺͕͋Δͱɺਓʑ΍ੈͷதΛΑ͘ݟͯɺ؍࡯ྗ͕਎ʹͭ͘ εΩϧΛͲ͏ੵΈ্͛ͯߦ͔͘ͷ͓࿩͸ɺ 2ճ໨Ҏ߱

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ࠓ೔ͷΰʔϧʛ ฤूऀͱͯ͠εΰ͘ͳΓ͍ͨͳΒ͹ɺ ·ͣ͸ɺͦͷຊ࣭Λཧղ͢Δ

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. ฤूͱ͸୯ͳΔzखஈzͰ͔͠ͳ͍ ໨త΍ҙࣝΛ࣋ͨͳ͚Ε͹ɺಓ۩ͷ࢖͍ํ͸਎ʹ͔ͭͳ͍ɻ

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. ͡Ό͋ɺͳΜͰฤूऀͬͯεΰ͍
 ʢΑ͏ͳؾ͕͢Δʣ ͷ͔ɻ ฤूͬͯ“खஈ”Λ࢖ͬͯɺԿΛ͍ͯ͠Δʢʹ໨తʣਓͳΜͩΖ͏…

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. ͱ͋Δໝ૝Λ
 पΓΛר͖ࠐΜͰɺ
 ࣮ݱɺ֦ுͪ͠Ό͏͔Βɺεΰ͍ ࣮ݱ͢Δ·Ͱ͸ɺ୯ͳΔໝ૝Ͱ͢ɻ

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. ฤूऀ͕ɺϓϩδΣΫτ͝ͱʹੜΈग़͍ͯ͠Δࢁͷߏ଄ ֦ࢄྗ ੍࡞ྗ اըྗ ฤूऀʹٻΊΒΕΔՁ஋ͷج൫͸ɺاըྗ ͔ͭɺ اըྗ͕Ұ൪Ք͛Δ෦෼ ʢςΩετίϯςϯπͷ৔߹ɺ੍࡞ྗ͕࡞ۀඅͷҬΛང͔ʹ্ճ Δ͜ͱͬͯ೉͍͠ɻ೔ຊਓ͸ɺ΄ͱΜͲ͕೔ຊޠͷจষΛॻ͚Δ ͷͰɺ࢒೦ͳ͕Β෇ՃՁ஋ͱͯ͠ೝΊΒΕʹ͍͘ͷͰ͢ʣ

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. ͨͩ͠ੈ͕ؒɺฤूऀʹεΰ͞Λײ͡Δଆ໘͸Θ͔ͣͳ෦෼ ֦ࢄྗ ੍࡞ྗ اըྗ ΞΠσΟΞ ίϐʔ ࢒೦ͳ͕ΒɺฤूऀΛ໊৐ΔਓͰ΋੺ؙ෦෼͔͠ ݟ͑ͯͳ͍ਓ͕ଟ͍ɻ ”ਅͷฤूऀ”͕ઈ໓ةዧछʹͳͬͯҎ߱ɺݟ͑ͳ͍ ฤूऀͷೳྗ͕ܰࢹ͞Εɺݟ͑΍͍͢ͱ͜Ζ͹͔ Γ͕ϑΟʔνϟʔ͞Ε͕ͪ

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. Ͱ΋Ͷʜ

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. ΞΠσΟΞ͚ͩͳΒ ୭Ͱ΋ࢥ͍ͭ͘

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. ϙΤϜͳΒ ʢஏΛࣺͯΕ͹ʣ ୭Ͱ΋ॻ͚Δ

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. Ԍ্͢Ε͹ɺ ୭Ͱ΋#V[[Δ

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. ฤूऀͷຊ࣭͸ɺ ΋ͬͱυϩ͍͘͞ ΩϥΩϥͨ͠࢓ࣄͩͱࢥ͍ͬͯΔͱɺ͍ͭ·Ͱ΋ྗ͸෇͖·ͤΜɻ

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. ͜Ε͸ฤूྗͷ෼ղͰ͸ͳ͘ɺฤूऀ͕ൃش͢Δྗͷ෼ղ ֦ࢄྗ ੍࡞ྗ اըྗ “ฤू”͸ ͜ΕΒͷྗΛ ࠷େԽ͢Δ ಓ۩

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. ूΊͯ →ɹฤΉ ฤू͸ɺاըஈ֊ɺ੍࡞ஈ֊ɺͣͬͱଓ͘ اըஈ֊ ੈͷதͷ͋Μͳ͜ͱɺ͜Μͳ͜ͱ ಡऀ΍औࡐઌͷχʔζ ΫϥΠΞϯτ ੍࡞ஈ֊ ελοϑ ͍ΖΜͳτϯϚφ ֦ࢄ ಡऀ ΞΠσΟΞ ΠϯαΠτͷجͮ͘اը ༩݅ͷ੔ཧ ΞαΠϯʗΦϦΤϯʗεέδϡʔϧ ίϯςϯπʹ߹ͬͨςΩετ ίϯςΩετڞ༗ʢഔମͷϒϥϯυԽʣ

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. هࣄฤू͔͠͠ͳ͍ฤूऀ͸ ཁΓ·ͤΜΑʔ

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ͳ͍ͱࠔΔͷ͸اըྗ

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. اըͱΞΠσΟΞͷҧ͍ اըʢ͖͔͘ʣ ―͋ΔࣄΛߦ͏ͨΊʹܭըΛͨͯΔ͜ͱɻ·ͨɺͦͷܭըɻ͘Θͩͯɻ ʢେࣙྛʣ z͋ΔࣄzʢʹΞΠσΟΞʣ͸ɺͿͬͪΌ͚ͳΜͰ΋ߏΘͳ͍ɻ ˓ࣗ෼ͷ಺ଆ͔Βग़ͯ͘Δ΋ͷ ˓ଞਓͷ಺͔Βग़ͯ͘Δ΋ͷ ˓ଞਓ͕ཉ͍ͯ͠Δ΋ͷ ໰ΘΕΔͷ͸ɺΞΠσΟΞΑΓ΋ɺܭը਱ߦྗɻ ʢܭը਱ߦʹର͢ΔϞνϕʔγϣϯ͸ɺΞΠσΟΞ͕ࣗ෼ͷ಺ଆ͔Βग़ͯ͘Δ΋ͷͰ͋Δਓͷ৔߹ɺউखʹ༙͖΍͍͢܏޲ʹ͸͋ Δ͔ͱࢥ͍·͢ʣ

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. िץগ೥δϟϯϓ఻આͷฤूऀௗౢ͞Μ͸ݴ͍ͬͯΔ https://www.itmedia.co.jp/business/articles/1903/26/news037.html ฤूऀͷௗౢͰ͢ɻ ๻ͷओͳڵຯ͸Ͳ͜ʹ࠽ೳ͕͋ͬͯɺ Ͳ͏͍͏෩ʹਓΛ૊Έ߹ΘͤΕ͹ ໘ന͍͜ͱ͕ى͖Δͷ͔ɺ ͦΕΛ࠷લྻͰݟ͍ͨͱ͍͏͜ͱͰ͢ɻ ͍ͭ΋ͦͷࢥ͍Ͱ࢓ࣄΛ͖ͯ͠·ͨ͠ɻ

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. ʓʓΛىͨ͜͢Ίʹฤू͢Δ ໨త΍ҙࣝΛ࣋ͨͳ͚Ε͹ɺಓ۩ͷ࢖͍ํ͸਎ʹ͔ͭͳ͍ɻ ʢେࣄͳ͜ͱͳͷͰճݴ͍·ͨ͠ʣ ࠓ೔͔Βҙࣝͯ͠΄͍͜͠ͱɿ

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. ௗౢ͞Μ͸ݴ͍ͬͯΔɹ;ͨͨͼʜ https://www.itmedia.co.jp/business/articles/1903/29/news021_8.html ฤूऀͷ࢓ࣄͷ୉ޣຯΛ΋͏Ұͭ࿩͠·͠ΐ͏ɻ ฤूऀ࣮ͬͯ͸Կʹ΋Ͱ͖ͳ͍ΜͰ͢ΑͶɻ ࠷ॳʹɺʮࣗ෼͸Կ΋Ͱ͖ͳ͍͜ͱʯΛ஌Δ͜ͱ͕ඞཁ ͳΜͰ͢Αɻ ʕதུʕ ͔ͩΒ๻Βฤूऀ͸Կ͔͕Ͱ͖ͪΌ͍͚ͳ͍ΜͰ͢ɻ ͍ΖΜͳ͜ͱΛཧղ͸͢Δ͚Ͳɺࣗ෼Ͱ͸΍Βͳ͍ɻ ͦΕ͸৽͍͠࠽ೳΛ͔ͭΉͨΊͳͷͰ͢ɻ ͜Ε͕ฤूऀͱ͍͏࢓ࣄͷ໘ന͍ͱ͜ΖͰɺ ࢒ࠅͳͱ͜Ζͩͱࢥ͍·͢ɻ

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. ͬͯɺຊ౰ʹԿ΋Ͱ͖ͳ͍
 ͳΜͯΘ͚ͳ͍Ͱ͢ΑͶʁʁ
 “ࣗ෼Ͱ͸΍Βͳ͍”୅ΘΓʹɺͨ͘͞Μ஌͍ͬͯͳ͍ͱ͍͚ͳ͍͠ɺ ୭͔ʹ΍ͬͯ΋Β͏ͨΊʹඞཁͳ΋ͷ͕͋Δ

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. आΓ෺ڝ૪͍ͬͱ͏͠ΐ͏ ͬͯɺࢲ͸ࢥͬͯ·͢ɻ

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. اը͔Β੍࡞·ͰΛɺӡಈձͷआΓ෺ڝ૪ʹྫ͑ͯΈΔ ͍͔ʹ໘ന͍͓୊͕ॻ͍ͯ͋ΔࢴΛҾ͖౰ͯΔ͔ ˠ໘ന͍ΞΠσΟΞ ߍఉͷͲ͜ʹआΓ͍ͨ΋ͷ͕͋Δ͔ɹɹɹɹɹɹɹɹɹɹˠϦαʔνྗʢᄿ֮΍৘ใ໢ʣ Ͳ͏΍ͬͯ஌Βͳ͍ਓ͔ΒआΓΔͨΊʹઆಘ͢Δ͔ ˠελοϑΞαΠϯˍΦϦΤϯ΍औࡐަব ૸ྗͷ޲্ ˠਐߦ؅ཧʢ1.͸ૄ͔ʹͪ͠Όμϝʂʂʣ ΰʔϧ͢Δ·Ͱͷ࢟ͰΪϟϥϦʔΛ෸͔ͤΒΕΔ͔ ˠΞ΢τϓοτͷ՚ྷ͞

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. ओ໾͡Όͳ͍͚Ͳɺத৺Ͱࡃ഑͢Δ ͳΜʹ΋Ͱ͖ͳ͍͚ͲɺͳΜͰ΋஌ͬͯΔਓɻ͔ͩΒɺίτΛಈ͔ͤΔɻ ʢͰ͖ͳͯ͘΋ɺͦΕ͕ͲΕ͘Β͍ͷ΋ͷͳͷ͔ΛཧղͰ͖Δྗ͸େ੾ɻʹ པΉ࣌ʹ૬खʹແཧΛͤ͞ͳ͍ʣ ࠓ೔͔Βҙࣝͯ͠΄͍͜͠ͱɿ

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্खʹضΛৼΖ͏ ʮʓʓ͞ΜͳΒʜʯ͍͖ͬͯͭͯͯ΋Β͑ΔΑ͏ʹͳΔ ·ͣ͸ελοϑʹɺ࣍͸ۀքʹɺΏ͘Ώ͘͸ಡऀʹ

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. Ͳ͏΍ͬͯࡃ഑͢Δ͔

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. ɹϞϊαγ ɹίτό ࣗ෼Ҏ֎ͷ୭͔Λר͖ࠐΉͱ͖ʹඞཁͳͭͷπʔϧ ઈରج४ʢࣗ෼ͷϞϊαγʣΛ࣋ͨͳ͍ͱɺ ౎౓มԽ͢Δ૬ରڑ཭ʢੈؒͷԹ౓ʣΛଌΔ ͜ͱ͕Ͱ͖ͳ͍ɻ ࣮͸ɺ໘ന͍͔໘ന͘ͳ͍͔Λɺࣗ෼ͷझຯ ᅂ޷ͱ͸Ҿ͖཭ͯ͠൑அ͢ΔͨΊʹɺࣗ෼ͷ Ϟϊαγͬͯඞཁɻ ϞϊαγΛ͍࣋ͬͯͳ͍ͱɺͦͷ࣌ͷ՝୊ʹ ߹Θͤͨ΋ͷΛूΊΒΕͳ͍͠ɺదͨ͠αΠ ζʹฤΉ͜ͱ͕Ͱ͖ͳ͍ɻ ܭը࣮ߦྗͷ্Ͱɺ͔ܽͤͳ͍ͷ͸ίϯηϯα εɻಉ͡೔ຊޠΛ࿩͍ͯͯ͠΋ɺݴ༿ͷ֓೦΍ఆ ٛ͸ݸਓʹΑͬͯϚνϚνɻ ڠྗͯ͠΋Β͏ඞཁ͕͋Δ૬ख͕ଟ͚Ε͹ଟ͍ ΄Ͳɺݴ༿Λਚ͘͞ͳ͚Ε͹ͳΒͳ͍͠ɺ֤ʑ ͷࠩҟΛཧղ͍ͯ͠ͳ͍ͱͳΒͳ͍ɻ ͦͯ͠ɺΞ΢τϓοτͱͯ͠ͷݴ༿͕ɺ঎඼ͳͷ Ͱେ੾ͳͷ͸ݴ͏·Ͱ΋ͳ͍͜ͱɻͨͩ͠ɺ͜ ͜Ͱ΋૬खʹ߹Θͤͯௐ੔͕ඞཁɻ

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. ຏ͍ͯ਎ʹ͚ͭΔ΋ͷ
 Ϟϊαγͱίτό ฤूͷ࢓ࣄ͸ɺࣗ෼Ҏ֎ͷ͋Ε͜ΕΛ೗Կʹίϯτϩʔϧ͢Δ͔ɻ ͦͷͱ͖ඞཁͳͷ͸ɺϞϊαγͱίτόͰ͢ ࠓ೔͔Βҙࣝͯ͠΄͍͜͠ͱɿ

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. ࣗ෼͸౰વ͍࣋ͬͯΔͱ͍͏ ࢥ͍ࠐΈʹ஫ҙ

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. ࣗ෼͕ೝ͍ࣝͯ͠ΔҎ্ʹɺ ਓ͸ࣗ෼ͷ౎߹Ͱ෺ࣄΛݟ͍ͯΔ ࣗ෼ͷ౎߹ͷྑ͍Α͏ʹղऍ͢Δ͜ͱ͸ɺฤूྗͷେ͖ͳ๦͛ʹͳΔɻ ʹฤूऀͬͯܳज़Ո͡Όͳ͍ʢܕ͕Θ͔͍ͬͯΔ͔ΒɺܕΛഁΕΔʣ ࠓ೔͔Βҙࣝͯ͠΄͍͜͠ͱɿ

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. ฤूऀͱ͸ɺ 
 ͱ͋ΔࣄฑΛɺ
 ଟ͘ͷਓʹͱͬͯͷ
 ʮࣗ෼ΰτԽʯͰ͖Δਓɻ͔ͩΒεΰ͍ ࠷௿ݶͷࢿ࣭͸ ʮاըΛ࣮ߦ͍ͨ͠ͱ͍͏ҙࢤΛ࣋ͪɺͦͷͨΊʹ౒ྗͰ͖Δਓʯ ˞ੜ·Εͳ͕Βͷฤूऀؾ࣭΋ͨ͘͞Μ͍·͢

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. ࠓ೔ͷ·ͱΊ w ฤूྗ͸ɺʓʓΛىͨ͜͢Ίʹ࢖͏΋ͷ w ฤूऀ͸ओ໾͡Όͳ͍͚Ͳɺத৺Ͱࡃ഑͢Δਓ w Ϟϊαγʢج४ʣͱίτόʢ఻ୡʣΛຏ͜͏ w ਓؒ͸ɺࣗ෼͕ೝ͍ࣝͯ͠ΔҎ্ʹɺ
 ෺ࣄΛࣗ෼ͷ౎߹Ͱݟ͍ͯΔ

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Confidential - Not to be disclosed or distributed to third parties. © aguri otsuka All Rights Reserved. େ੾ͳͷ͸ɺ
 ଟ͘ͷਓʹಇ͖͔͚͍ͨͬͯ૝͍ 1VCMJTIJOHग़൛ɹ͸ɺɹ1VCMJDͷ೿ੜޠʢϥςϯޠʮਓຽͷʯͷҙ1&01-&ͱಉޠݯʣ