{"id":21323,"date":"2025-12-29T13:57:14","date_gmt":"2025-12-29T06:57:14","guid":{"rendered":"https:\/\/vinasc.co\/dich-vu-tu-van-xac-dinh-gia-tri-doanh-nghiep-cho-hoat-dong-ma\/"},"modified":"2026-03-13T10:34:51","modified_gmt":"2026-03-13T03:34:51","slug":"dich-vu-tu-van-xac-dinh-gia-tri-doanh-nghiep-cho-hoat-dong-ma","status":"publish","type":"page","link":"https:\/\/vinasc.co\/ja\/dich-vu-tu-van-xac-dinh-gia-tri-doanh-nghiep-cho-hoat-dong-ma\/","title":{"rendered":"M&#038;A\u6d3b\u52d5\u306e\u305f\u3081\u306e\u4e8b\u696d\u8a55\u4fa1\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u30b5\u30fc\u30d3\u30b9"},"content":{"rendered":"<div class=\"read_div\">\n<blockquote>\n<p style=\"text-align: justify;\"><strong>M&amp;A\u6d3b\u52d5\u306e\u305f\u3081\u306e\u4e8b\u696d\u8a55\u4fa1\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u30b5\u30fc\u30d3\u30b9\u3002<\/strong><\/p>\n<p style=\"text-align: justify;\"><strong>\u00a0<\/strong>M&amp;A\u306e\u6210\u5426\u306f\u3001\u9069\u5207\u306a\u30d1\u30fc\u30c8\u30ca\u30fc\u9078\u3073\u306b\u304b\u304b\u3063\u3066\u3044\u308b\u3068\u8a00\u3063\u3066\u3082\u904e\u8a00\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u3057\u304b\u3057\u3001\u81ea\u793e\u306e\u6226\u7565\u76ee\u6a19\u3084\u4f01\u696d\u6587\u5316\u3001\u305d\u3057\u3066\u8ca1\u52d9\u898f\u6a21\u306b\u5b8c\u74a7\u306b\u5408\u81f4\u3059\u308b\u4f01\u696d\u3092\u81ea\u529b\u3067\u898b\u3064\u3051\u51fa\u3059\u3053\u3068\u306f\u3001\u6975\u3081\u3066\u56f0\u96e3\u3067\u6642\u9593\u306e\u304b\u304b\u308b\u4f5c\u696d\u3067\u3059\u3002\u4e0d\u9069\u5207\u306a\u30bf\u30fc\u30b2\u30c3\u30c8\u9078\u5b9a\u306f\u3001\u5f8c\u306e\u4ea4\u6e09\u306e\u505c\u6ede\u3084\u7d71\u5408\u5f8c\u306e\u30b7\u30ca\u30b8\u30fc\u55aa\u5931\u3092\u62db\u304f\u6700\u5927\u306e\u8981\u56e0\u3068\u306a\u308a\u307e\u3059\u3002\u672c\u7a3f\u3067\u306f\u3001\u60c5\u5831\u975e\u5bfe\u79f0\u6027\u306e\u969c\u58c1\u3092\u6253\u7834\u3057\u3001\u8cb7\u3044\u624b\u3068\u58f2\u308a\u624b\u306e\u6700\u9069\u306a\u30de\u30c3\u30c1\u30f3\u30b0\u3092\u5b9f\u73fe\u3059\u308b\u5c02\u9580\u7684\u306a\u4ef2\u4ecb\u30b5\u30fc\u30d3\u30b9\u306e\u91cd\u8981\u6027\u3068\u3001Vinasc\u30b0\u30eb\u30fc\u30d7\u304c\u63d0\u4f9b\u3059\u308b\u72ec\u81ea\u306e\u30bd\u30fc\u30b7\u30f3\u30b0\u624b\u6cd5\u306b\u3064\u3044\u3066\u8a73\u3057\u304f\u89e3\u8aac\u3057\u307e\u3059<\/p>\n<\/blockquote>\n<h2>1. M&amp;A\u306b\u304a\u3051\u308b\u4e8b\u696d\u8a55\u4fa1\u30b5\u30fc\u30d3\u30b9\u306e\u6982\u8981<\/h2>\n<figure id=\"attachment_22645\" aria-describedby=\"caption-attachment-22645\" style=\"width: 2048px\" class=\"wp-caption alignnone\"><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-22645 size-full\" src=\"https:\/\/vinasc.co\/wp-content\/uploads\/2026\/01\/vinasc-11.jpg\" alt=\"\" width=\"2048\" height=\"1152\" srcset=\"https:\/\/vinasc.co\/wp-content\/uploads\/2026\/01\/vinasc-11.jpg 2048w, https:\/\/vinasc.co\/wp-content\/uploads\/2026\/01\/vinasc-11-1024x576.jpg 1024w, https:\/\/vinasc.co\/wp-content\/uploads\/2026\/01\/vinasc-11-768x432.jpg 768w, https:\/\/vinasc.co\/wp-content\/uploads\/2026\/01\/vinasc-11-1536x864.jpg 1536w, https:\/\/vinasc.co\/wp-content\/uploads\/2026\/01\/vinasc-11-640x360.jpg 640w, https:\/\/vinasc.co\/wp-content\/uploads\/2026\/01\/vinasc-11-400x225.jpg 400w\" sizes=\"(max-width: 2048px) 100vw, 2048px\" \/><figcaption id=\"caption-attachment-22645\" class=\"wp-caption-text\">M&amp;A\u6d3b\u52d5\u306e\u305f\u3081\u306e\u4e8b\u696d\u8a55\u4fa1\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u30b5\u30fc\u30d3\u30b9<\/figcaption><\/figure>\n<p style=\"text-align: justify;\">\u3042\u3089\u3086\u308b\u5408\u4f75\u30fb\u8cb7\u53ce (M&amp;A) \u53d6\u5f15\u306b\u304a\u3044\u3066\u3001\u6700\u3082\u91cd\u8981\u306a\u8cea\u554f\u306f\u5e38\u306b\u300c\u5bfe\u8c61\u4f01\u696d\u306e\u5b9f\u969b\u306e\u4fa1\u5024\u306f\u3044\u304f\u3089\u304b\u300d\u3067\u3059\u3002<\/p>\n<p style=\"text-align: justify;\">\u4e8b\u696d\u4fa1\u5024\u3092\u6c7a\u5b9a\u3059\u308b\u3053\u3068\u306f\u30c7\u30e5\u30fc\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u6bb5\u968e\u306b\u304a\u3051\u308b\u6700\u3082\u91cd\u8981\u306a\u30b9\u30c6\u30c3\u30d7\u3067\u3042\u308a<em>\u3001<\/em>\u53d6\u5f15\u3092\u7d99\u7d9a\u3059\u308b\u304b\u7d42\u4e86\u3059\u308b\u304b\u3001\u305d\u3057\u3066\u6700\u7d42\u7684\u306a\u4ea4\u6e09\u4fa1\u5024\u304c\u3044\u304f\u3089\u306b\u306a\u308b\u304b\u3092\u6c7a\u5b9a\u3057\u307e\u3059\u3002<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/vinasc.co\/ja\/dich-vu-tu-van-ma-doanh-nghiep-tai-viet-nam\/\">\u4e8b\u696d\u8a55\u4fa1<\/a>\u306f\u3001\u8cb7\u3044\u624b\u3068\u58f2\u308a\u624b\u306e\u4e21\u65b9\u304c\u4e8b\u696d\u304c\u5c06\u6765\u751f\u307f\u51fa\u3059\u7d4c\u6e08\u7684\u4fa1\u5024\u3092\u7406\u89e3\u3059\u308b\u306e\u306b\u5f79\u7acb\u3061\u3001\u4ea4\u6e09\u4e2d\u306b\u6b63\u78ba\u3067\u81ea\u4fe1\u3092\u6301\u3063\u3066\u6c7a\u5b9a\u3092\u4e0b\u3059\u3053\u3068\u3092\u53ef\u80fd\u306b\u3057\u307e\u3059\u3002<\/p>\n<p style=\"text-align: justify;\"><em>\u91cd\u8981\u4e8b\u9805\uff1a\u300c\u4fa1\u5024\u306e\u6c7a\u5b9a\u300d\u3068\u300c\u9451\u5b9a\u300d\u306e\u9055\u3044<\/em><\/p>\n<p style=\"text-align: justify;\">\u3053\u306e\u30b5\u30fc\u30d3\u30b9\u306f\u6cd5\u7684\u306b\u7fa9\u52d9\u4ed8\u3051\u3089\u308c\u305f\u8a55\u4fa1\u3067\u306f\u306a\u304f\u3001\u4ee5\u4e0b\u306e\u5185\u5bb9\u306b<em>\u57fa\u3065\u3044\u3066<\/em>\u516c\u6b63\u4fa1\u5024\u3092\u898b\u7a4d\u3082\u308b\u3053\u3068\u3092\u76ee\u7684\u3068\u3057\u305f<em>\u8a73\u7d30<\/em>\u306a\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u30b5\u30fc\u30d3\u30b9\u3067\u3059\u3002<\/p>\n<p>a. \u5b9f\u969b\u306e\u8ca1\u52d9\u30c7\u30fc\u30bf\u3068\u8abf\u6574\u6e08\u307f\u8ca1\u52d9\u30c7\u30fc\u30bf\uff08\u6b63\u898f\u5316\uff09\u3002<\/p>\n<p>b. \u30d3\u30b8\u30cd\u30b9\u30e2\u30c7\u30eb\u3068\u6210\u9577\u6226\u7565\u3002<\/p>\n<p>c. \u5e02\u5834\u306e\u72b6\u6cc1\u3068\u696d\u754c\u30ea\u30b9\u30af\u3002<\/p>\n<p style=\"text-align: justify;\">\u30d9\u30c8\u30ca\u30e0\u306b\u304a\u3051\u308bM&amp;A\u306b\u304a\u3044\u3066\u3001\u4f01\u696d\u306f\u4fa1\u5024\u3092\u6b63\u78ba\u306b\u5224\u65ad\u3057\u3001\u4e3b\u89b3\u7684\u307e\u305f\u306f\u8aa4\u89e3\u3092\u62db\u304f\u3088\u3046\u306a\u8a55\u4fa1\u3092\u907f\u3051\u3001\u53d6\u5f15\u306e\u5229\u76ca\u3092\u6700\u5927\u5316\u3059\u308b\u305f\u3081\u306b\u3001Vinasc Group\u306e\u3088\u3046\u306a\u5c02\u9580\u77e5\u8b58\u3068\u7d4c\u9a13\u3092\u5099\u3048\u305f\u72ec\u7acb\u3057\u305f\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u4f1a\u793e\u3092\u5fc5\u8981\u3068\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p><span class=\"h-title\">2. \u4f01\u696d\u306f\u3044\u3064\u81ea\u793e\u306e\u4fa1\u5024\u3092\u5224\u65ad\u3059\u308b\u5fc5\u8981\u304c\u3042\u308b\u306e\u3067\u3057\u3087\u3046\u304b?<\/span><\/p>\n<p style=\"text-align: justify;\">\u4e8b\u696d\u4fa1\u5024\u8a55\u4fa1\u306f\u3001\u69d8\u3005\u306a\u72b6\u6cc1\u306b\u304a\u3044\u3066\u4e0d\u53ef\u6b20\u306a\u30b9\u30c6\u30c3\u30d7\u3067\u3059\u304c\u3001\u7279\u306b\u6226\u7565\u7684\u306a\u53d6\u5f15\u3084\u6240\u6709\u6a29\u79fb\u8ee2\u306b\u304a\u3044\u3066\u306f\u91cd\u8981\u3067\u3059\u3002Vinasc\u30b0\u30eb\u30fc\u30d7\u306e\u3053\u306e\u30b5\u30fc\u30d3\u30b9\u306f\u3001\u4e3b\u306b\u4ee5\u4e0b\u306e\u30b1\u30fc\u30b9\u3067\u5229\u7528\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n<p><strong>a. \u5408\u4f75\u30fb\u8cb7\u53ce\uff08M&amp;A\uff09\u53d6\u5f15\u306b\u304a\u3044\u3066<\/strong><\/p>\n<p style=\"text-align: justify;\">\u3053\u308c\u306f\u4e2d\u6838\u7684\u306a\u8981\u4ef6\u3067\u3042\u308a\u3001\u901a\u5e38\u3001 Vinasc Group \u306e 8 \u6bb5\u968e\u306e M&amp;A \u30d7\u30ed\u30bb\u30b9\u306e<strong>\u30b9\u30c6\u30c3\u30d7 4: \u30c7\u30e5\u30fc\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u3067\u767a\u751f\u3057\u307e\u3059\u3002<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>\u516c\u6b63\u306a\u4fa1\u683c\u306e\u6c7a\u5b9a:\u8cb7\u3044\u624b (\u8cb7\u3044\u5074) \u307e\u305f\u306f\u58f2\u308a\u624b (\u58f2\u308a\u624b\u5074) \u304c\u81ea\u4fe1\u3092\u6301\u3063\u3066\u4ea4\u6e09\u306b\u81e8\u3081\u308b\u3088\u3046\u3001\u4fa1\u683c\u8a2d\u5b9a\u306e\u57fa\u6e96\u3092\u63d0\u4f9b\u3057\u307e\u3059\u3002<\/li>\n<li>\u521d\u671f\u4eee\u5b9a\u306e\u691c\u8a3c:\u5b9f\u969b\u306e\u4fa1\u5024\u3092\u521d\u671f\u4eee\u5b9a\u304a\u3088\u3073\u6226\u7565\u76ee\u6a19\u3068\u6bd4\u8f03\u3057\u3066\u3001\u53d6\u5f15\u3092\u7d99\u7d9a\u3059\u308b\u304b\u7d42\u4e86\u3059\u308b\u304b\u3092\u6c7a\u5b9a\u3057\u307e\u3059\u3002<\/li>\n<li>\u59a5\u5f53\u6027\u8a55\u4fa1:\u63d0\u6848\u3055\u308c\u305f\u4fa1\u683c\u304c\u5f53\u521d\u306e\u4eee\u5b9a\u304a\u3088\u3073\u76ee\u7684\u3068\u4e00\u81f4\u3057\u3066\u3044\u308b\u304b\u3069\u3046\u304b\u3092\u5224\u65ad\u3057\u307e\u3059\u3002<\/li>\n<\/ul>\n<h3 class=\"h23\"><strong>b. \u8ca1\u52d9\u76ee\u7684\u3068\u8cc7\u91d1\u8abf\u9054<\/strong><\/h3>\n<ul style=\"text-align: justify;\">\n<li>\u8cc7\u91d1\u8abf\u9054\uff1a\u5916\u90e8\u6295\u8cc7\u3092\u5f15\u304d\u4ed8\u3051\u308b\u305f\u3081\u306b\u4fa1\u5024\u3092\u6c7a\u5b9a\u3057\u307e\u3059\u3002<\/li>\n<li>\u682a\u5f0f\u767a\u884c\uff1a\u8cc7\u91d1\u8abf\u9054\u306e\u305f\u3081\u306b\u65b0\u682a\u3092\u767a\u884c\u3059\u308b\u5834\u5408\u3001\u8a55\u4fa1\u304c\u5fc5\u8981\u3068\u306a\u308a\u307e\u3059\u3002<\/li>\n<li>\u81ea\u793e\u682a\u8cb7\u3044\uff1a\u81ea\u793e\u682a\u8cb7\u3044\u53d6\u5f15\u3092\u5b9f\u884c\u3059\u308b\u305f\u3081\u306e\u8a55\u4fa1\u3002<\/li>\n<\/ul>\n<p><strong>c. \u4e8b\u696d\u518d\u7de8\u3068\u5909\u9769<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>\u6240\u6709\u6a29\u306e\u518d\u7de8:\u4e8b\u696d\u5f62\u614b\u306e\u5909\u66f4\u3001\u5185\u90e8\u8b72\u6e21\u3001\u58f2\u5374\u306e\u969b\u306b\u4fa1\u5024\u3092\u6c7a\u5b9a\u3057\u307e\u3059\u3002<\/li>\n<li>\u8cc7\u7523\u304a\u3088\u3073\u8ca1\u52d9\u8a55\u4fa1: M&amp;A \u5f8c\u306e\u4f1a\u8a08\u3001\u4f4f\u5b85\u30ed\u30fc\u30f3\u3001\u4fdd\u967a\u3001\u307e\u305f\u306f\u8cfc\u5165\u4fa1\u683c\u914d\u5206 (PPA) \u306e\u76ee\u7684\u306b\u5f79\u7acb\u3061\u307e\u3059\u3002<\/li>\n<li>\u6e05\u7b97:\u4e8b\u696d\u304c\u505c\u6b62\u3057\u305f\u3068\u304d\u3001\u307e\u305f\u306f\u305d\u306e\u8cc7\u7523\u304c\u6e05\u7b97\u3055\u308c\u305f\u3068\u304d\u306e\u4fa1\u5024\u3092\u6c7a\u5b9a\u3059\u308b\u3053\u3068\u3002<\/li>\n<\/ul>\n<p><span class=\"h-title\">3. \u4e8b\u696d\u8a55\u4fa1\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u30b5\u30fc\u30d3\u30b9\u306e\u30e1\u30ea\u30c3\u30c8<\/span><\/p>\n<p style=\"text-align: justify;\">\u72ec\u7acb\u3057\u305f\u5c02\u9580\u7684\u306a\u4e8b\u696d\u8a55\u4fa1\u306f\u3001\u7279\u306b\u91cd\u8981\u306a\u4ea4\u6e09\u6bb5\u968e\u306b\u304a\u3044\u3066\u3001\u8cb7\u3044\u624b\u3068\u58f2\u308a\u624b\u306e\u4e21\u65b9\u306b\u6226\u7565\u7684\u306a\u30e1\u30ea\u30c3\u30c8\u3092\u3082\u305f\u3089\u3057\u307e\u3059\u3002<\/p>\n<p style=\"text-align: justify;\"><strong>a. \u4ea4\u6e09\u3068\u610f\u601d\u6c7a\u5b9a\u306e\u5fc5\u9808\u306e\u57fa\u790e<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>\u516c\u5e73\u6027\u306e\u78ba\u4fdd:\u5ba2\u89b3\u7684\u3067\u79d1\u5b66\u7684\u306a\u4fa1\u5024\u3092\u63d0\u4f9b\u3059\u308b\u3053\u3068\u3067\u3001\u4e3b\u89b3\u7684\u307e\u305f\u306f\u8aa4\u89e3\u3092\u62db\u304f\u3088\u3046\u306a\u4fa1\u683c\u8a2d\u5b9a\u3092\u56de\u907f\u3057\u3001\u4e21\u5f53\u4e8b\u8005\u304c\u5408\u7406\u7684\u306a\u58f2\u8cb7\u6c7a\u5b9a\u3092\u4e0b\u3059\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/li>\n<li>\u8a55\u4fa1\u8a55\u4fa1:\u63d0\u793a\u3055\u308c\u305f\u4fa1\u683c\u304c\u5f53\u521d\u306e\u6226\u7565\u76ee\u6a19\u3084\u60f3\u5b9a\u3068\u4e00\u81f4\u3057\u3066\u3044\u308b\u304b\u3069\u3046\u304b\u3092\u8cfc\u5165\u8005\u304c\u78ba\u8a8d\u3059\u308b\u306e\u306b\u5f79\u7acb\u3061\u307e\u3059\u3002<\/li>\n<li>\u4ea4\u6e09\u30b5\u30dd\u30fc\u30c8:\u4fa1\u5024\u306b\u95a2\u3059\u308b\u4ea4\u6e09\u306e\u7acb\u5834\u3092\u64c1\u8b77\u3059\u308b\u305f\u3081\u306b\u3001\u5f37\u529b\u306a\u8b70\u8ad6\u3068\u8a73\u7d30\u306a\u8ca1\u52d9\u8a3c\u62e0\u3092\u63d0\u4f9b\u3057\u307e\u3059\u3002<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>b. \u8ca1\u52d9\u5229\u76ca\u306e\u6700\u9069\u5316<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>\u58f2\u308a\u624b\u306b\u3068\u3063\u3066\u306e\u4fa1\u5024\u306e\u6700\u5927\u5316:\u6210\u9577\u306e\u53ef\u80fd\u6027\u3068\u5e02\u5834\u4fa1\u5024\u306b\u57fa\u3065\u3044\u3066\u3001\u58f2\u308a\u624b\u304c\u53ef\u80fd\u306a\u9650\u308a\u6700\u9ad8\u306e\u8b72\u6e21\u4fa1\u5024\u3092\u6c7a\u5b9a\u3067\u304d\u308b\u3088\u3046\u306b\u652f\u63f4\u3057\u307e\u3059\u3002<\/li>\n<li>\u8cb7\u3044\u624b\u304c\u904e\u6255\u3044\u3059\u308b\u30ea\u30b9\u30af\u3092\u56de\u907f\u3059\u308b:\u8cb7\u3044\u624b\u304c\u5bfe\u8c61\u4e8b\u696d\u306e\u5b9f\u969b\u306e\u4fa1\u5024\u306b\u6bd4\u3079\u3066\u9ad8\u3059\u304e\u308b\u4fa1\u683c\u3092\u652f\u6255\u308f\u306a\u3044\u3088\u3046\u306b\u3057\u3001\u6295\u8cc7\u8cc7\u672c\u3092\u4fdd\u8b77\u3057\u307e\u3059\u3002<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">c.<strong>\u00a0 \u900f\u660e\u6027\u3068\u30b3\u30f3\u30d7\u30e9\u30a4\u30a2\u30f3\u30b9\u306e\u5411\u4e0a<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>\u30b3\u30f3\u30d7\u30e9\u30a4\u30a2\u30f3\u30b9\u76ee\u7684:\u4f1a\u8a08\u3001\u7a0e\u91d1\u3001\u307e\u305f\u306f\u305d\u306e\u4ed6\u306e\u6cd5\u7684\u8981\u4ef6 (\u682a\u5f0f\u767a\u884c\u3001\u8cc7\u672c\u518d\u7de8\u306a\u3069) \u306e\u4fa1\u5024\u3092\u6c7a\u5b9a\u3057\u307e\u3059\u3002<\/li>\n<li>\u53d6\u5f15\u306e\u900f\u660e\u6027:\u3053\u308c\u306b\u3088\u308a\u3001\u53d6\u5f15\u304c\u900f\u660e\u5316\u3055\u308c\u3001\u682a\u4e3b\u3084\u898f\u5236\u5f53\u5c40\u306b\u3088\u308b\u627f\u8a8d\u304c\u5bb9\u6613\u306b\u306a\u308a\u307e\u3059\u3002<\/li>\n<\/ul>\n<h3>4. Vinasc \u30b0\u30eb\u30fc\u30d7\u306f\u4e8b\u696d\u8a55\u4fa1\u30b5\u30fc\u30d3\u30b9\u306b\u304a\u3044\u3066\u3069\u306e\u3088\u3046\u306a\u30b5\u30fc\u30d3\u30b9\u3092\u63d0\u4f9b\u3057\u3066\u3044\u307e\u3059\u304b?<\/h3>\n<p style=\"text-align: justify;\">Vinasc\u30b0\u30eb\u30fc\u30d7\u306e\u4e8b\u696d\u8a55\u4fa1\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u30b5\u30fc\u30d3\u30b9\u306f\u3001\u7d4c\u9a13\u8c4a\u5bcc\u306a\u91d1\u878d\u5c02\u9580\u5bb6\u30c1\u30fc\u30e0\u306b\u3088\u3063\u3066\u63d0\u4f9b\u3055\u308c\u3001\u5ba2\u89b3\u6027\u3068\u79d1\u5b66\u7684\u53b3\u5bc6\u6027\u3092\u78ba\u4fdd\u3057\u3001<a href=\"https:\/\/vinasc.co\/ja\/dich-vu-tu-van-ma-doanh-nghiep-tai-viet-nam\/\">M&amp;A\u53d6\u5f15<\/a>\u306b\u304a\u3051\u308b\u4ea4\u6e09\u76ee\u6a19\u306e\u6700\u5927\u5316\u3092\u5b9f\u73fe\u3057\u307e\u3059\u3002Vinasc\u30b0\u30eb\u30fc\u30d7\u306f\u3001\u4ee5\u4e0b\u306e\u30b5\u30fc\u30d3\u30b9\u30b3\u30f3\u30dd\u30fc\u30cd\u30f3\u30c8\u3092\u63d0\u4f9b\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p style=\"text-align: justify;\"><strong>a. \u8ca1\u52d9\u304a\u3088\u3073\u4e8b\u696d\u30d7\u30ed\u30d5\u30a1\u30a4\u30eb\u306e\u8a73\u7d30\u306a\u5206\u6790<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>\u8ca1\u52d9\u306e\u6b63\u5e38\u5316\uff1a\u904e\u53bb\u306e\u8ca1\u52d9\u30c7\u30fc\u30bf\u3092\u5206\u6790\u30fb\u8abf\u6574\u3057\u3001\u7570\u5e38\u306a\u975e\u7d4c\u5e38\u9805\u76ee\u3084\u5e02\u5834\u4fa1\u5024\u306b\u898b\u5408\u308f\u306a\u3044\u95a2\u9023\u5f53\u4e8b\u8005\u9593\u306e\u53d6\u5f15\u3092\u9664\u5916\u3057\u307e\u3059\u3002\u3053\u308c\u306b\u3088\u308a\u3001\u4e8b\u696d\u306e\u771f\u306e\u53ce\u76ca\u6027\u3092\u628a\u63e1\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/li>\n<li>\u8a73\u7d30\u5206\u6790:\u30d3\u30b8\u30cd\u30b9\u6226\u7565\u3001\u53ce\u76ca\u30e2\u30c7\u30eb\u3001\u30b3\u30b9\u30c8\u69cb\u9020\u3001\u6cd5\u7684\u30ea\u30b9\u30af\u304a\u3088\u3073\u904b\u7528\u30ea\u30b9\u30af\u3092\u8a55\u4fa1\u3057\u3001\u5c06\u6765\u306e\u8a55\u4fa1\u306e\u524d\u63d0\u306e\u57fa\u790e\u3092\u5f62\u6210\u3057\u307e\u3059\u3002<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>b. \u9069\u5207\u306a\u4fa1\u683c\u8a2d\u5b9a\u65b9\u6cd5\u306e\u9078\u629e\u3068\u9069\u7528<\/strong><\/p>\n<p style=\"text-align: justify;\">Vinasc Group \u306f\u3001M&amp;A \u306b\u304a\u3044\u3066\u5e83\u304f\u53d7\u3051\u5165\u308c\u3089\u308c\u3066\u3044\u308b\u8a55\u4fa1\u65b9\u6cd5\u3092\u7d44\u307f\u5408\u308f\u305b\u3066\u3001\u6700\u3082\u6b63\u78ba\u306a\u7d50\u679c\u3092\u5c0e\u304d\u51fa\u3057\u307e\u3059\u3002<\/p>\n<ul style=\"text-align: justify;\">\n<li>\u30a4\u30f3\u30ab\u30e0\u30a2\u30d7\u30ed\u30fc\u30c1\uff1a\u5272\u5f15\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\uff08DCF\uff09\u6cd5\u304c\u4e00\u822c\u7684\u306b\u7528\u3044\u3089\u308c\u307e\u3059\u3002\u3053\u306e\u624b\u6cd5\u306f\u3001\u4e8b\u696d\u304c\u5c06\u6765\u7684\u306b\u5275\u51fa\u3067\u304d\u308b\u7d4c\u6e08\u7684\u4fa1\u5024\u3092\u53cd\u6620\u3059\u308b\u305f\u3081\u3001M&amp;A\u306b\u304a\u3044\u3066\u6700\u3082\u9069\u3057\u3066\u3044\u308b\u3068\u8003\u3048\u3089\u308c\u3066\u3044\u307e\u3059\u3002<\/li>\n<li>\u5e02\u5834\u30a2\u30d7\u30ed\u30fc\u30c1:\n<ul>\n<li>\u540c\u3058\u696d\u754c\u306e\u4e0a\u5834\u4f01\u696d\u3084\u3001\u985e\u4f3c\u306e\u5b8c\u4e86\u3057\u305f M&amp;A \u53d6\u5f15\u304b\u3089\u306e\u4e57\u6570\u3092\u6d3b\u7528\u3057\u307e\u3059\u3002<\/li>\n<li>\u3053\u308c\u306f\u3001\u5e02\u5834\u306b\u304a\u3051\u308b\u7af6\u5408\u4ed6\u793e\u3068\u4f01\u696d\u4fa1\u5024\u3092\u6bd4\u8f03\u3059\u308b\u306e\u306b\u5f79\u7acb\u3061\u3001\u8a55\u4fa1\u7d50\u679c\u306e\u5ba2\u89b3\u6027\u3092\u9ad8\u3081\u307e\u3059\u3002<\/li>\n<\/ul>\n<\/li>\n<li>\u8cc7\u7523\u30a2\u30d7\u30ed\u30fc\u30c1:\u7d14\u8cc7\u7523\u4fa1\u5024\u3092\u6c7a\u5b9a\u3059\u308b\u305f\u3081\u306b\u4f7f\u7528\u3055\u308c\u3001\u901a\u5e38\u3001\u591a\u304f\u306e\u8cc7\u7523\u3092\u4fdd\u6709\u3057\u3066\u3044\u308b\u4f01\u696d\u3084\u6e05\u7b97\u306e\u30ea\u30b9\u30af\u304c\u3042\u308b\u4f01\u696d\u306b\u9069\u7528\u3055\u308c\u307e\u3059\u3002<\/li>\n<\/ul>\n<p><strong>c. \u8a73\u7d30\u306a\u4e8b\u696d\u8a55\u4fa1\u30ec\u30dd\u30fc\u30c8\u306e\u4f5c\u6210<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>\u8a55\u4fa1\u30e2\u30c7\u30eb\u306e\u78ba\u7acb:\u4e88\u6e2c\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3001\u9069\u5207\u306a\u52a0\u91cd\u5e73\u5747\u58f2\u4e0a\u539f\u4fa1 (WACC)\u3001\u304a\u3088\u3073\u6700\u7d42\u4fa1\u5024\u3092\u542b\u3080\u8a73\u7d30\u306a\u8ca1\u52d9\u30e2\u30c7\u30eb\u3092\u958b\u767a\u3057\u307e\u3059\u3002<\/li>\n<li>\u611f\u5ea6\u5206\u6790\u30ec\u30dd\u30fc\u30c8:\u4e3b\u8981\u306a\u524d\u63d0 (\u6210\u9577\u7387\u3001\u5272\u5f15\u7387) \u304c\u5909\u5316\u3057\u305f\u5834\u5408\u3001\u4f01\u696d\u4fa1\u5024\u304c\u3069\u306e\u7a0b\u5ea6\u5909\u5316\u3059\u308b\u304b\u3092\u8a55\u4fa1\u3057\u307e\u3059\u3002<\/li>\n<li>\u516c\u6b63\u4fa1\u5024\u306e\u7bc4\u56f2:\u5358\u4e00\u306e\u6570\u5b57\u3067\u306f\u306a\u304f\u516c\u6b63\u4fa1\u5024\u306e\u7bc4\u56f2\u3092\u63d0\u4f9b\u3059\u308b\u3053\u3068\u3067\u3001\u4ea4\u6e09\u4e2d\u306b\u9867\u5ba2\u306b\u67d4\u8edf\u6027\u3092\u4e0e\u3048\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>d. \u4fa1\u683c\u4ea4\u6e09\u306b\u304a\u3051\u308b\u9867\u5ba2\u30b5\u30dd\u30fc\u30c8<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>\u8a55\u4fa1\u306e\u8aac\u660e:\u8a55\u4fa1\u306e\u65b9\u6cd5\u3001\u524d\u63d0\u3001\u7d50\u679c\u3092\u7d4c\u55b6\u9663\u307e\u305f\u306f\u53d6\u5f15\u5148\u306b\u8a73\u7d30\u306b\u63d0\u793a\u3057\u3001\u8aac\u660e\u3057\u307e\u3059\u3002<\/li>\n<li>\u4fa1\u683c\u6226\u7565\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0:\u958b\u59cb\u4fa1\u683c\u3001\u76ee\u6a19\u4fa1\u683c\u3001\u640d\u76ca\u5206\u5c90\u70b9\u306a\u3069\u306e\u4fa1\u683c\u4ea4\u6e09\u6226\u7565\u306b\u3064\u3044\u3066\u30af\u30e9\u30a4\u30a2\u30f3\u30c8 (\u8cb7\u3044\u624b\u307e\u305f\u306f\u58f2\u308a\u624b) \u306b\u30a2\u30c9\u30d0\u30a4\u30b9\u3057\u307e\u3059\u3002<\/li>\n<\/ul>\n<h3 style=\"text-align: justify;\">5. Vinasc\u30b0\u30eb\u30fc\u30d7\u306e\u4e8b\u696d\u8a55\u4fa1\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u30d7\u30ed\u30bb\u30b9\uff085\u3064\u306e\u30b9\u30c6\u30c3\u30d7\uff09<\/h3>\n<figure id=\"attachment_22524\" aria-describedby=\"caption-attachment-22524\" style=\"width: 2560px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"wp-image-22524 size-full\" src=\"https:\/\/vinasc.co\/wp-content\/uploads\/2026\/01\/vinasc-co-5-scaled.jpg\" alt=\"\" width=\"2560\" height=\"1440\" srcset=\"https:\/\/vinasc.co\/wp-content\/uploads\/2026\/01\/vinasc-co-5-scaled.jpg 2560w, https:\/\/vinasc.co\/wp-content\/uploads\/2026\/01\/vinasc-co-5-1024x576.jpg 1024w, https:\/\/vinasc.co\/wp-content\/uploads\/2026\/01\/vinasc-co-5-768x432.jpg 768w, https:\/\/vinasc.co\/wp-content\/uploads\/2026\/01\/vinasc-co-5-1536x864.jpg 1536w, https:\/\/vinasc.co\/wp-content\/uploads\/2026\/01\/vinasc-co-5-2048x1152.jpg 2048w, https:\/\/vinasc.co\/wp-content\/uploads\/2026\/01\/vinasc-co-5-640x360.jpg 640w, https:\/\/vinasc.co\/wp-content\/uploads\/2026\/01\/vinasc-co-5-400x225.jpg 400w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><figcaption id=\"caption-attachment-22524\" class=\"wp-caption-text\">M&amp;A\u6d3b\u52d5\u306e\u305f\u3081\u306e\u4e8b\u696d\u8a55\u4fa1\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u30b5\u30fc\u30d3\u30b9<\/figcaption><\/figure>\n<p style=\"text-align: justify;\">Vinasc \u30b0\u30eb\u30fc\u30d7\u306e\u4f01\u696d\u8a55\u4fa1\u30d7\u30ed\u30bb\u30b9\u306f\u3001M&amp;A \u4ea4\u6e09\u306e\u76ee\u7684\u3092\u9054\u6210\u3059\u308b\u305f\u3081\u306b\u6700\u9ad8\u30ec\u30d9\u30eb\u306e\u7cbe\u5ea6\u3068\u5ba2\u89b3\u6027\u3092\u78ba\u4fdd\u3059\u308b\u3088\u3046\u306b\u8a2d\u8a08\u3055\u308c\u305f\u5305\u62ec\u7684\u304b\u3064\u69cb\u9020\u5316\u3055\u308c\u305f\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0 \u30d7\u30ed\u30bb\u30b9\u3067\u3059\u3002<\/p>\n<p style=\"text-align: justify;\"><strong>a. \u30b9\u30c6\u30c3\u30d71: \u76ee\u6a19\u3092\u5206\u6790\u3057\u3001\u30c7\u30fc\u30bf\u3092\u53ce\u96c6\u3059\u308b<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>\u76ee\u7684\u3092\u7406\u89e3\u3059\u308b:\u8a55\u4fa1\u306e\u76ee\u7684 (\u8cfc\u5165\u3001\u58f2\u5374\u3001\u518d\u7de8\u306a\u3069) \u3092\u660e\u78ba\u306b\u5b9a\u7fa9\u3057\u307e\u3059\u3002<\/li>\n<li>\u6587\u66f8\u306e\u53ce\u96c6:\u904e\u53bb\u306e\u8ca1\u52d9\u8a18\u9332 (\u901a\u5e38\u306f\u904e\u53bb 3 \uff5e 5 \u5e74)\u3001\u4e8b\u696d\u4e88\u6e2c\u3001\u5e02\u5834\u60c5\u5831\u3001\u95a2\u9023\u3059\u308b\u6cd5\u7684\u6587\u66f8\u3092\u53ce\u96c6\u3057\u307e\u3059\u3002<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>b. \u30b9\u30c6\u30c3\u30d72\uff1a\u8ca1\u52d9\u5206\u6790\u3068\u30c7\u30fc\u30bf\u8abf\u6574<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>\u8ca1\u52d9\u306e\u6b63\u5e38\u5316:\u7570\u5e38\u306a\u9805\u76ee (\u975e\u7d4c\u5e38\u7684\u8cbb\u7528\u3001\u95a2\u9023\u5f53\u4e8b\u8005\u3068\u306e\u53d6\u5f15\u306a\u3069) \u3092\u5206\u6790\u304a\u3088\u3073\u8abf\u6574\u3057\u3066\u3001\u4e8b\u696d\u306e\u5b9f\u969b\u306e\u53ce\u76ca\u6027\u3092\u5224\u65ad\u3057\u307e\u3059\u3002<\/li>\n<li>\u6226\u7565\u5206\u6790:\u30d3\u30b8\u30cd\u30b9 \u30e2\u30c7\u30eb\u3001\u7af6\u4e89\u4e0a\u306e\u512a\u4f4d\u6027\u3001\u696d\u754c\u30ea\u30b9\u30af\u3092\u8a55\u4fa1\u3057\u3066\u3001\u4fa1\u683c\u8a2d\u5b9a\u30e2\u30c7\u30eb\u306e\u5165\u529b\u524d\u63d0\u3092\u78ba\u7acb\u3057\u307e\u3059\u3002<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>c. \u30b9\u30c6\u30c3\u30d73\uff1a\u65b9\u6cd5\u306e\u9078\u629e\u3068\u4fa1\u683c\u30e2\u30c7\u30eb\u306e\u69cb\u7bc9<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>\u65b9\u6cd5\u306e\u9078\u629e:\u696d\u754c\u3001\u4f01\u696d\u306e\u72b6\u6cc1\u3001\u8a55\u4fa1\u76ee\u6a19\u306b\u57fa\u3065\u3044\u3066\u3001Vinasc \u30b0\u30eb\u30fc\u30d7\u306f\u6700\u3082\u9069\u5207\u306a\u65b9\u6cd5 (\u901a\u5e38\u306f DCF \u6cd5\u3068\u5e02\u5834\u6cd5\u306e\u7d44\u307f\u5408\u308f\u305b) \u3092\u9078\u629e\u3057\u307e\u3059\u3002<\/li>\n<li>\u30e2\u30c7\u30eb\u69cb\u7bc9:\u30ad\u30e3\u30c3\u30b7\u30e5 \u30d5\u30ed\u30fc\u4e88\u6e2c\u3001\u52a0\u91cd\u5e73\u5747\u73fe\u91d1\u30b3\u30b9\u30c8 (WACC) \u306e\u8a08\u7b97\u3001\u6700\u7d42\u5024\u306a\u3069\u3001\u8a73\u7d30\u306a\u8ca1\u52d9\u30e2\u30c7\u30eb\u306e\u69cb\u7bc9\u306b\u9032\u307f\u307e\u3059\u3002<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>d. \u30b9\u30c6\u30c3\u30d74\uff1a\u611f\u5ea6\u5206\u6790\u3068\u5024\u306e\u7bc4\u56f2\u306e\u8a2d\u5b9a<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>\u611f\u5ea6\u5206\u6790:\u4e3b\u8981\u306a\u5165\u529b\u8981\u56e0 (\u6210\u9577\u7387\u3001\u5229\u76ca\u7387\u306a\u3069) \u304c\u5909\u5316\u3057\u305f\u5834\u5408\u306b\u4f01\u696d\u306e\u4fa1\u5024\u304c\u3069\u306e\u7a0b\u5ea6\u5909\u5316\u3059\u308b\u304b\u3092\u8a55\u4fa1\u3057\u307e\u3059\u3002<\/li>\n<li>\u5024\u306e\u7bc4\u56f2\u3092\u5b9a\u7fa9\u3059\u308b:\u5358\u4e00\u306e\u6570\u5b57\u3067\u306f\u306a\u304f\u59a5\u5f53\u306a\u5024\u306e\u7bc4\u56f2\u3092\u63d0\u4f9b\u3059\u308b\u3053\u3068\u3067\u3001\u9867\u5ba2\u306e\u4ea4\u6e09\u306e\u67d4\u8edf\u6027\u3092\u9ad8\u3081\u307e\u3059\u3002<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>e. \u30b9\u30c6\u30c3\u30d75\uff1a\u5831\u544a\u3001\u8aac\u660e\u3001\u4ea4\u6e09\u30b5\u30dd\u30fc\u30c8<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>\u30d3\u30b8\u30cd\u30b9\u8a55\u4fa1\u30ec\u30dd\u30fc\u30c8\u3092\u6e96\u5099\u3059\u308b:\u65b9\u6cd5\u8ad6\u3001\u524d\u63d0\u3001\u304a\u3088\u3073\u7d50\u679c\u306b\u3064\u3044\u3066\u306e\u8a73\u7d30\u3067\u900f\u660e\u6027\u306e\u3042\u308b\u30ec\u30dd\u30fc\u30c8\u3092\u63d0\u4f9b\u3057\u307e\u3059\u3002<\/li>\n<li>\u8aac\u660e\u8cac\u4efb\u306e\u30b5\u30dd\u30fc\u30c8:\u30af\u30e9\u30a4\u30a2\u30f3\u30c8\u306e\u7d4c\u55b6\u9663\u304a\u3088\u3073\u30a2\u30c9\u30d0\u30a4\u30b6\u30ea\u30fc \u30c1\u30fc\u30e0\u306b\u8a55\u4fa1\u7d50\u679c\u3092\u63d0\u793a\u3057\u3001\u8aac\u660e\u3057\u307e\u3059\u3002<\/li>\n<li>\u4ea4\u6e09\u4fa1\u683c\u8a2d\u5b9a\u30a2\u30c9\u30d0\u30a4\u30b6\u30ea\u30fc:\u4f01\u696d\u4fa1\u5024\u306b\u95a2\u3059\u308b\u76ee\u6a19\u4fa1\u683c\u8a2d\u5b9a\u3068\u4ea4\u6e09\u8ad6\u70b9\u306b\u3064\u3044\u3066\u6226\u7565\u7684\u306a\u30a2\u30c9\u30d0\u30a4\u30b9\u3092\u63d0\u4f9b\u3057\u307e\u3059\u3002<\/li>\n<\/ul>\n<h2>6. \u30d3\u30b8\u30cd\u30b9\u4fa1\u5024\u3092\u6c7a\u5b9a\u3059\u308b\u305f\u3081\u306b\u4f7f\u7528\u3055\u308c\u308b\u65b9\u6cd5<\/h2>\n<p style=\"text-align: justify;\">\u8a55\u4fa1\u65b9\u6cd5\u306e\u9078\u629e\u306f\u3001\u4f01\u696d\u4fa1\u5024\u306e\u6b63\u78ba\u6027\u3068\u516c\u6b63\u6027\u3092\u6c7a\u5b9a\u3059\u308b\u91cd\u8981\u306a\u8981\u7d20\u3067\u3059\u3002Vinasc\u30b0\u30eb\u30fc\u30d7\u306f\u3001\u4e16\u754c\u7684\u306b\u5e83\u304f\u53d7\u3051\u5165\u308c\u3089\u308c\u3066\u3044\u308b3\u3064\u306e\u4e3b\u8981\u306a\u8a55\u4fa1\u65b9\u6cd5\u3092\u5e38\u306b\u67d4\u8edf\u306b\u9069\u7528\u30fb\u7d44\u307f\u5408\u308f\u305b\u308b\u3053\u3068\u3067\u3001\u6700\u3082\u5408\u7406\u7684\u306a\u8a55\u4fa1\u7bc4\u56f2\u3092\u7b97\u51fa\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p style=\"text-align: justify;\"><strong>a. \u53ce\u76ca\u30a2\u30d7\u30ed\u30fc\u30c1<\/strong><\/p>\n<p style=\"text-align: justify;\">\u3053\u306e\u624b\u6cd5\u7fa4\u306f\u3001\u5c06\u6765\u306e\u7d4c\u6e08\u7684\u5229\u76ca\u306e\u53ef\u80fd\u6027\u306b\u91cd\u70b9\u3092\u7f6e\u3044\u3066\u3044\u308b\u305f\u3081\u3001M&amp;A\u53d6\u5f15\u306b<strong>\u6700\u3082\u9069\u3057\u3066\u3044\u308b\u3068\u8003\u3048\u3089\u308c\u3066\u3044\u307e\u3059<\/strong>\u3002<\/p>\n<ul style=\"text-align: justify;\">\n<li><strong>\u5272\u5f15\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\uff08DCF\uff09\u6cd5\uff1a<\/strong>\n<ul>\n<li><strong>\u57fa\u790e:<\/strong>\u4f01\u696d\u304c\u5c06\u6765\u751f\u307f\u51fa\u3059\u3068\u4e88\u60f3\u3055\u308c\u308b\u30d5\u30ea\u30fc \u30ad\u30e3\u30c3\u30b7\u30e5 \u30d5\u30ed\u30fc\u306e\u73fe\u5728\u4fa1\u5024\u3092\u898b\u7a4d\u3082\u308a\u3001\u9069\u5207\u306a\u5272\u5f15\u7387 (WACC \u307e\u305f\u306f\u682a\u4e3b\u8cc7\u672c\u30b3\u30b9\u30c8) \u3092\u4f7f\u7528\u3057\u3066\u305d\u308c\u3092\u73fe\u5728\u306b\u5272\u308a\u5f15\u304d\u307e\u3059\u3002<\/li>\n<li><strong>Vinasc Group \u306e\u8a55\u4fa1: <\/strong>DCF \u6cd5\u306f\u4f01\u696d\u306e\u771f\u306e\u7d4c\u6e08\u7684\u4fa1\u5024\u3092\u53cd\u6620\u3057\u3001\u7279\u306b\u6210\u9577\u306e\u53ef\u80fd\u6027\u304c\u9ad8\u3044\u4f01\u696d\u306b\u3068\u3063\u3066\u6700\u3082\u5f37\u56fa\u306a\u4ea4\u6e09\u306e\u57fa\u76e4\u3068\u306a\u308a\u307e\u3059\u3002<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>b. \u5e02\u5834\u30a2\u30d7\u30ed\u30fc\u30c1<\/strong><\/p>\n<p style=\"text-align: justify;\">\u3053\u306e\u65b9\u6cd5\u3067\u306f\u3001\u985e\u4f3c\u306e\u53d6\u5f15\u3084\u4f01\u696d\u306e\u30c7\u30fc\u30bf\u3092\u4f7f\u7528\u3059\u308b\u3053\u3068\u3067\u3001\u5ba2\u89b3\u6027\u3068\u6bd4\u8f03\u53ef\u80fd\u6027\u3092\u5b9f\u73fe\u3057\u307e\u3059\u3002<\/p>\n<ul style=\"text-align: justify;\">\n<li><strong>\u540c\u7b49\u306e\u53d6\u5f15\u65b9\u6cd5:<\/strong>\n<ul>\n<li><strong>\u57fa\u6e96:<\/strong>\u6700\u8fd1\u5b8c\u4e86\u3057\u305f\u985e\u4f3c\u306e M&amp;A \u53d6\u5f15\u306e\u4e57\u6570\u3092\u4f7f\u7528\u3057\u307e\u3059 (\u4f8b: EV\/EBITDA\u3001P\/E\u3001EV\/\u53ce\u76ca)\u3002<\/li>\n<li><strong>\u5229\u70b9:<\/strong>\u5e02\u5834\u304c\u540c\u7b49\u306e\u8cc7\u7523\u306b\u5bfe\u3057\u3066\u652f\u6255\u3046\u610f\u601d\u306e\u3042\u308b\u4fa1\u683c\u306b\u3064\u3044\u3066\u306e\u6d1e\u5bdf\u3092\u63d0\u4f9b\u3057\u307e\u3059\u3002<\/li>\n<\/ul>\n<\/li>\n<li><strong>\u516c\u958b\u4f1a\u793e\u76f8\u5f53\u6cd5\uff1a<\/strong>\n<ul>\n<li><strong>\u57fa\u6e96:<\/strong>\u5e02\u5834\u306b\u4e0a\u5834\u3057\u3066\u3044\u308b\u3001\u540c\u69d8\u306e\u30d3\u30b8\u30cd\u30b9 \u30e2\u30c7\u30eb\u3092\u6301\u3064\u540c\u3058\u696d\u754c\u306e\u516c\u958b\u4f01\u696d\u306e\u4e57\u6570\u3092\u4f7f\u7528\u3057\u307e\u3059\u3002<\/li>\n<li><strong>\u5229\u70b9:<\/strong>\u4f01\u696d\u304c\u5e02\u5834\u306b\u4e0a\u5834\u3055\u308c\u305f\u5834\u5408\u306e\u4fa1\u5024\u306b\u3064\u3044\u3066\u306e\u6d1e\u5bdf\u3092\u63d0\u4f9b\u3057\u307e\u3059\u3002<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>c. \u8cc7\u7523\u6cd5<\/strong><\/p>\n<p style=\"text-align: justify;\">\u3053\u306e\u65b9\u6cd5\u306f\u3001\u4f01\u696d\u306e\u7d14\u8cc7\u7523\u4fa1\u5024\u306b\u7126\u70b9\u3092\u5f53\u3066\u3066\u3044\u307e\u3059\u3002<\/p>\n<ul style=\"text-align: justify;\">\n<li><strong>\u57fa\u6e96:<\/strong>\u4e8b\u696d\u8a55\u4fa1\u306f\u3001\u3059\u3079\u3066\u306e\u8cc7\u7523\u306e\u5408\u8a08\u5e02\u5834\u4fa1\u5024\u304b\u3089\u8ca0\u50b5\u3092\u5dee\u3057\u5f15\u304f\u3053\u3068\u306b\u3088\u3063\u3066\u6c7a\u5b9a\u3055\u308c\u307e\u3059\u3002<\/li>\n<li><strong>\u7528\u9014:<\/strong>\u91cd\u8981\u306a\u6709\u5f62\u8cc7\u7523 (\u4e0d\u52d5\u7523\u3001\u6a5f\u68b0) \u3092\u4fdd\u6709\u3059\u308b\u4f01\u696d\u3001\u8ca1\u653f\u96e3\u306b\u9665\u3063\u3066\u3044\u308b\u4f01\u696d\u3001\u6e05\u7b97\u72b6\u6cc1\u306b\u3042\u308b\u4f01\u696d\u306b\u3068\u3063\u3066\u3001\u88dc\u8db3\u30c4\u30fc\u30eb\u307e\u305f\u306f\u4e3b\u8981\u30c4\u30fc\u30eb\u3068\u3057\u3066\u3088\u304f\u4f7f\u7528\u3055\u308c\u307e\u3059\u3002<\/li>\n<\/ul>\n<h3>7. \u30d3\u30b8\u30cd\u30b9\u4fa1\u5024\u3092\u5909\u3048\u308b\u8981\u56e0<\/h3>\n<p style=\"text-align: justify;\">M&amp;A\u306b\u304a\u3051\u308b\u4f01\u696d\u4fa1\u5024\u306f\u3001\u8cb8\u501f\u5bfe\u7167\u8868\u4e0a\u306e\u7dcf\u8cc7\u7523\u3060\u3051\u3067\u306a\u304f\u3001\u53ce\u76ca\u6027\u3084\u5c06\u6765\u306e\u6210\u9577\u6027\u3082\u8003\u616e\u3055\u308c\u307e\u3059\u3002\u591a\u304f\u306e\u5b9a\u6027\u7684\u30fb\u5b9a\u91cf\u7684\u8981\u56e0\u306b\u3088\u3063\u3066\u3001\u3053\u306e\u4fa1\u5024\u306f\u5927\u304d\u304f\u5909\u52d5\u3059\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n<p style=\"text-align: justify;\"><strong>a.\u00a0 \u8ca1\u52d9\u304a\u3088\u3073\u4e2d\u6838\u4e8b\u696d\u8981\u56e0\uff08\u5b9a\u91cf\u7684\u8981\u56e0\uff09<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li><strong>\u53ce\u76ca\u306e\u8cea\uff08QoE\uff09:<\/strong>\n<ul>\n<li>\u4fa1\u5024\u306f\u3001\u975e\u7d4c\u5e38\u8cbb\u7528\u304a\u3088\u3073\u5e02\u5834\u4fa1\u683c\u306b\u53cd\u6620\u3055\u308c\u306a\u3044\u95a2\u9023\u5f53\u4e8b\u8005\u9593\u53d6\u5f15\uff08\u6b63\u898f\u5316\uff09\u3092\u9664\u3044\u305f<strong>\u5b9f\u8cea\u5229\u76ca\u306b\u57fa\u3065\u3044\u3066\u7b97\u51fa\u3055\u308c\u307e\u3059\u3002\u8cea\u306e\u9ad8\u3044\u5229\u76ca\uff08\u6301\u7d9a\u53ef\u80fd\u3067\u900f\u660e\u6027\u306e\u3042\u308b\u5229\u76ca\uff09\u306f\u4fa1\u5024\u3092\u9ad8\u3081\u307e\u3059<\/strong>\u3002<\/li>\n<\/ul>\n<\/li>\n<li><strong>\u5c06\u6765\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u53ef\u80fd\u6027:<\/strong>\n<ul>\n<li>\u4e88\u60f3\u3055\u308c\u308b\u5c06\u6765\u306e<strong>\u53ce\u76ca\u6210\u9577<\/strong>\u7387\u3068<strong>\u5229\u76ca\u7387\u304c\u6700\u3082\u91cd\u8981\u306a\u8981\u7d20\u3068\u306a\u308a\u307e\u3059\u3002<\/strong><\/li>\n<\/ul>\n<\/li>\n<li><strong>\u52a0\u91cd\u5e73\u5747\u8cc7\u672c\u30fb\u30ea\u30b9\u30af\uff08WACC\uff09\u69cb\u9020\uff1a<\/strong>\n<ul>\n<li>\u9069\u5207\u306a\u8ca0\u50b5\u30ec\u30d9\u30eb\u3068\u4f4e\u3044\u4e8b\u696d\u30ea\u30b9\u30af\u306b\u3088\u308a<strong>\u3001\u52a0\u91cd\u5e73\u5747\u73fe\u91d1\u30b3\u30b9\u30c8 (WACC)\u304c\u524a\u6e1b\u3055\u308c<\/strong>\u3001\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u73fe\u5728<strong>\u4fa1\u5024\u304c\u5897\u52a0\u3057\u307e\u3059\u3002<\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>b. \u5b9a\u6027\u7684\u304a\u3088\u3073\u6226\u7565\u7684\u8981\u56e0<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li><strong>\u7d4c\u55b6\u30fb\u4eba\u4e8b\u30c1\u30fc\u30e0:<\/strong>\n<ul>\n<li>\u5c02\u9580\u7684\u3067\u56e3\u7d50\u529b\u306e\u3042\u308b\u7d4c\u9a13\u8c4a\u5bcc\u306a\u7d4c\u55b6\u30c1\u30fc\u30e0\u306f\u3001\u4fa1\u5024\u3092\u5927\u5e45\u306b\u9ad8\u3081\u308b\u91cd\u8981\u306a\u7121\u5f62\u8cc7\u7523\u3067\u3059\u3002<\/li>\n<li>M&amp;A\u5f8c\u3082\u4e3b\u8981\u4eba\u54e1\u3092\u7dad\u6301\u3067\u304d\u308b\u304b\u3069\u3046\u304b\u306f\u3001\u91cd\u8981\u306a\u8a55\u4fa1\u8981\u7d20\u3067\u3059\u3002<\/li>\n<\/ul>\n<\/li>\n<li><strong>\u6301\u7d9a\u53ef\u80fd\u306a\u7af6\u4e89\u512a\u4f4d\u6027:<\/strong>\n<ul>\n<li>\u7121\u5f62\u8cc7\u7523\uff08\u5f37\u529b\u306a\u30d6\u30e9\u30f3\u30c9\u3001\u7279\u8a31\u3001\u72ec\u81ea\u306e\u6280\u8853\uff09\u3068\u78ba\u56fa\u305f\u308b\u5e02\u5834\u30dd\u30b8\u30b7\u30e7\u30f3\u304c\u4fa1\u5024\u3092\u9ad8\u3081\u307e\u3059\u3002<\/li>\n<\/ul>\n<\/li>\n<li><strong>\u76f8\u4e57\u52b9\u679c\u306e\u53ef\u80fd\u6027:<\/strong>\n<ul>\n<li>\u3053\u308c\u306fM&amp;A\u306e\u7279\u5fb4\u3067\u3059\u3002\u30b7\u30ca\u30b8\u30fc\u52b9\u679c\u3068\u306f\u3001\u8cb7\u53ce\u5074\u304c\u5408\u4f75\u306b\u3088\u3063\u3066\u671f\u5f85\u3059\u308b\u4ed8\u52a0\u4fa1\u5024\uff08\u30b3\u30b9\u30c8\u524a\u6e1b\u3001\u53ce\u76ca\u5897\u52a0\uff09\u3067\u3042\u308a\u3001\u5bfe\u8c61\u4f01\u696d\u306e\u672c\u8cea\u7684\u4fa1\u5024\u306b\u4e0a\u4e57\u305b\u3055\u308c\u307e\u3059\u3002<\/li>\n<\/ul>\n<\/li>\n<li><strong>\u6cd5\u7684\u5074\u9762\u3068\u30b3\u30f3\u30d7\u30e9\u30a4\u30a2\u30f3\u30b9\u30ea\u30b9\u30af:<\/strong>\n<ul>\n<li>\u6cd5\u7684\u30ea\u30b9\u30af\u3001\u8a34\u8a1f\u3001\u307e\u305f\u306f\u6f5c\u5728\u7684\u306a\u8ca0\u50b5\u306b\u3088\u308a\u3001\u8a55\u4fa1\u30d7\u30ed\u30bb\u30b9\u4e2d\u306b\u4fa1\u5024\u304c\u4e0b\u304c\u308a\u307e\u3059\u3002<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h3 class=\"h23\" style=\"text-align: justify;\">c.\u00a0 \u5e02\u5834\u8981\u56e0<\/h3>\n<ul style=\"text-align: justify;\">\n<li><strong>\u5e02\u5834\u3068\u696d\u754c\u306e\u72b6\u6cc1:<\/strong>\n<ul>\n<li>\u696d\u754c\u306e\u6210\u9577\u3068M&amp;A\u5e02\u5834\u5168\u4f53\u306e\u52d5\u5411\u306f\u3001\u5e02\u5834\u624b\u6cd5\u3067\u4f7f\u7528\u3055\u308c\u308b\u4e57\u6570\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u307e\u3059\u3002\u6d3b\u6c17\u306e\u3042\u308b\u5e02\u5834\u306f\u3088\u308a\u9ad8\u3044\u8a55\u4fa1\u3092\u751f\u307f\u51fa\u3057\u307e\u3059\u3002<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span class=\"h-title\">8. \u6bd4\u8f03\u8868: \u30d3\u30b8\u30cd\u30b9\u4fa1\u5024\u306e\u6c7a\u5b9a\u3068\u8a55\u4fa1<\/span><\/p>\n<table style=\"width: 98.7874%;\" width=\"623\">\n<thead>\n<tr>\n<td style=\"width: 23.7864%;\" width=\"148\"><strong>\u57fa\u6e96<\/strong><\/td>\n<td style=\"width: 43.3657%;\" width=\"272\"><strong>\u30d3\u30b8\u30cd\u30b9\u4fa1\u5024\u306e\u6c7a\u5b9a<\/strong><\/td>\n<td style=\"width: 152.589%;\" width=\"195\"><strong>\u8a55\u4fa1<\/strong><\/td>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"width: 23.7864%;\" width=\"148\">\u76ee\u7684<\/td>\n<td style=\"width: 43.3657%;\" width=\"272\">M&amp;A\u3001\u4ea4\u6e09\u3001\u8cc7\u91d1\u8abf\u9054<\/td>\n<td style=\"width: 152.589%;\" width=\"195\">\u6cd5\u52d9\u5831\u544a\u66f8\u3001\u4f4f\u5b85\u30ed\u30fc\u30f3<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 23.7864%;\" width=\"148\">\u6cd5\u5f8b\u4e0a\u306e<\/td>\n<td style=\"width: 43.3657%;\" width=\"272\">\u9451\u5b9a\u8a31\u53ef\u306f\u5fc5\u8981\u3042\u308a\u307e\u305b\u3093\u3002<\/td>\n<td style=\"width: 152.589%;\" width=\"195\">\u30e9\u30a4\u30bb\u30f3\u30b9\u304c\u5fc5\u8981\u3067\u3059\u3002<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 23.7864%;\" width=\"148\">\u7d50\u679c<\/td>\n<td style=\"width: 43.3657%;\" width=\"272\">\u516c\u6b63\u4fa1\u5024\u306e\u7bc4\u56f2<\/td>\n<td style=\"width: 152.589%;\" width=\"195\">\u516c\u5f0f\u306e\u6cd5\u7684\u4fa1\u5024<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 23.7864%;\" width=\"148\">\u65b9\u6cd5<\/td>\n<td style=\"width: 43.3657%;\" width=\"272\">\u8ca1\u52d9\u5206\u6790 + \u6226\u7565<\/td>\n<td style=\"width: 152.589%;\" width=\"195\">\u4e3b\u306a\u8cc7\u7523<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 23.7864%;\" width=\"148\">\u67d4\u8edf\u6027<\/td>\n<td style=\"width: 43.3657%;\" width=\"272\">\u975e\u5e38\u306b\u9ad8\u3044<\/td>\n<td style=\"width: 152.589%;\" width=\"195\">\u5236\u9650<\/td>\n<\/tr>\n<tr>\n<td style=\"width: 23.7864%;\" width=\"148\">\u7a76\u6975\u306e\u76ee\u6a19<\/td>\n<td style=\"width: 43.3657%;\" width=\"272\">M&amp;A\u306b\u304a\u3051\u308b\u4ea4\u6e09\u306e\u6700\u9069\u5316<\/td>\n<td style=\"width: 152.589%;\" width=\"195\">\u6cd5\u5f8b\u306e\u9075\u5b88<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span class=\"h-title\">9. \u4f01\u696d\u304cVinasc Group\u3092\u9078\u3076\u3079\u304d\u7406\u7531\u306f\u4f55\u3067\u3059\u304b?<\/span><\/p>\n<figure id=\"attachment_22549\" aria-describedby=\"caption-attachment-22549\" style=\"width: 2560px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"wp-image-22549 size-full\" src=\"https:\/\/vinasc.co\/wp-content\/uploads\/2026\/01\/vinasc-co-11-scaled.jpg\" alt=\"\" width=\"2560\" height=\"1709\" srcset=\"https:\/\/vinasc.co\/wp-content\/uploads\/2026\/01\/vinasc-co-11-scaled.jpg 2560w, https:\/\/vinasc.co\/wp-content\/uploads\/2026\/01\/vinasc-co-11-1024x684.jpg 1024w, https:\/\/vinasc.co\/wp-content\/uploads\/2026\/01\/vinasc-co-11-768x513.jpg 768w, https:\/\/vinasc.co\/wp-content\/uploads\/2026\/01\/vinasc-co-11-1536x1026.jpg 1536w, https:\/\/vinasc.co\/wp-content\/uploads\/2026\/01\/vinasc-co-11-2048x1368.jpg 2048w, https:\/\/vinasc.co\/wp-content\/uploads\/2026\/01\/vinasc-co-11-640x427.jpg 640w, https:\/\/vinasc.co\/wp-content\/uploads\/2026\/01\/vinasc-co-11-400x267.jpg 400w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><figcaption id=\"caption-attachment-22549\" class=\"wp-caption-text\">M&amp;A\u6d3b\u52d5\u306e\u305f\u3081\u306e\u4e8b\u696d\u8a55\u4fa1\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u30b5\u30fc\u30d3\u30b9<\/figcaption><\/figure>\n<p style=\"text-align: justify;\">\u4e8b\u696d\u4fa1\u5024\u306e\u5224\u65ad\u306f\u8907\u96d1\u306a\u4f5c\u696d\u3067\u3042\u308a\u3001\u6df1\u3044\u8ca1\u52d9\u5c02\u9580\u77e5\u8b58\u3068\u5b9f\u8df5\u7684\u306a\u5e02\u5834\u77e5\u8b58\u306e\u7d44\u307f\u5408\u308f\u305b\u304c\u6c42\u3081\u3089\u308c\u307e\u3059\u3002Vinasc\u30b0\u30eb\u30fc\u30d7\u306f\u3001\u4ee5\u4e0b\u306e\u30b3\u30a2\u3068\u306a\u308b\u7af6\u4e89\u512a\u4f4d\u6027\u306b\u57fa\u3065\u304d\u3001\u3053\u306e\u30b5\u30fc\u30d3\u30b9\u306b\u304a\u3051\u308b\u6700\u826f\u306e\u9078\u629e\u80a2\u3067\u3042\u308b\u3068\u78ba\u4fe1\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<p style=\"text-align: justify;\"><strong>a.\u00a0 \u8c4a\u5bcc\u306a\u5c02\u9580\u77e5\u8b58\uff08\u76e3\u67fb\u304a\u3088\u3073\u8ca1\u52d9\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\uff09<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>\u8ca1\u52d9\u6b63\u5e38\u5316\u306b\u304a\u3051\u308b\u5c02\u9580\u77e5\u8b58\uff1a\u6700\u5927\u306e\u9055\u3044\u306f\u3001\u8a73\u7d30\u306a\u5206\u6790\u3092\u5b9f\u65bd\u3057\u3001\u8ca1\u52d9\u6570\u5024\u3092\u8abf\u6574\u3057\u3066\u5b9f\u969b\u306e\u53ce\u76ca\uff08<em>\u53ce\u76ca\u306e\u8cea &#8211; QoE <\/em>\uff09\u3092\u6b63\u78ba\u306b\u53cd\u6620\u3055\u305b\u308b\u80fd\u529b\u3067\u3059\u3002Vinasc\u30b0\u30eb\u30fc\u30d7\u306f\u3001\u76e3\u67fb\u3068\u4f1a\u8a08\u306e\u5c02\u9580\u77e5\u8b58\u3092\u6d3b\u304b\u3057\u3066\u7570\u5e38\u3092\u691c\u77e5\u30fb\u6392\u9664\u3057\u3001\u6700\u3082\u6b63\u78ba\u306a\u8a55\u4fa1\u3092\u63d0\u4f9b\u3057\u3066\u3044\u307e\u3059\u3002<\/li>\n<li>\u5b9f\u8df5\u7684\u306aM&amp;A\u7d4c\u9a13\uff1a Vinasc Group\u306f\u3001\u8a55\u4fa1\u3092\u63d0\u4f9b\u3059\u308b\u3060\u3051\u3067\u306a\u304f\u3001M&amp;A\u306e\u6226\u7565\u7684\u76ee\u6a19\u3068\u30d7\u30ed\u30bb\u30b9\u3092\u7406\u89e3\u3057\u3066\u3044\u307e\u3059\u3002Vinasc Group\u306e\u8a55\u4fa1\u7d50\u679c\u306f\u3001\u8cb7\u3044\u624b\u3068\u58f2\u308a\u624b\u53cc\u65b9\u306e\u4ea4\u6e09\u3068\u610f\u601d\u6c7a\u5b9a\u30d7\u30ed\u30bb\u30b9\u3092\u76f4\u63a5\u30b5\u30dd\u30fc\u30c8\u3059\u308b\u3088\u3046\u306b\u8a2d\u8a08\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/li>\n<\/ul>\n<h3 class=\"h23\" style=\"text-align: justify;\"><strong>b.\u00a0 \u79d1\u5b66\u7684\u304b\u3064\u67d4\u8edf\u306a\u65b9\u6cd5\u8ad6<\/strong><\/h3>\n<ul style=\"text-align: justify;\">\n<li>\u56fd\u969b\u7684\u306a\u624b\u6cd5\u306e\u7d44\u307f\u5408\u308f\u305b\u3092\u9069\u7528: Vinasc \u30b0\u30eb\u30fc\u30d7\u306f\u3001\u6700\u3082\u5e83\u304f\u53d7\u3051\u5165\u308c\u3089\u308c\u3066\u3044\u308b\u8a55\u4fa1\u624b\u6cd5 (DCF\u3001\u5e02\u5834\u3001\u8cc7\u7523) \u3092\u67d4\u8edf\u306b\u4f7f\u7528\u3057\u3066\u516c\u6b63\u4fa1\u5024\u306e\u7bc4\u56f2\u3092\u7b97\u51fa\u3057\u307e\u3059\u3002<\/li>\n<li>\u4fe1\u983c\u6027\u306e\u9ad8\u3044\u8ca1\u52d9\u30e2\u30c7\u30eb\u306e\u69cb\u7bc9:\u900f\u660e\u6027\u306e\u3042\u308b\u4eee\u5b9a\u306b\u57fa\u3065\u3044\u305f\u8a73\u7d30\u306a\u8a55\u4fa1\u30e2\u30c7\u30eb\u3092\u69cb\u7bc9\u3057\u3001\u611f\u5ea6\u5206\u6790\u3092\u5b9f\u65bd\u3057\u3066\u3001\u304a\u5ba2\u69d8\u304c\u4fa1\u5024\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u308b\u8981\u56e0\u3092\u7406\u89e3\u3067\u304d\u308b\u3088\u3046\u652f\u63f4\u3057\u307e\u3059\u3002<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>c.\u00a0 \u5ba2\u89b3\u6027\u306e\u78ba\u4fdd\u3068\u4ea4\u6e09\u306e\u652f\u63f4<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>\u72ec\u7acb\u6027\u3068\u5ba2\u89b3\u6027: Vinasc \u30b0\u30eb\u30fc\u30d7\u306e\u8a55\u4fa1\u30ec\u30dd\u30fc\u30c8\u306f\u72ec\u7acb\u3057\u3066\u5b9f\u65bd\u3055\u308c\u3001\u8cb7\u3044\u624b (\u904e\u6255\u3044\u306e\u56de\u907f) \u3068\u58f2\u308a\u624b (\u8b72\u6e21\u4fa1\u5024\u306e\u4fdd\u8b77) \u306b\u4fe1\u983c\u3067\u304d\u308b\u57fa\u6e96\u3092\u63d0\u4f9b\u3057\u307e\u3059\u3002<\/li>\n<li>\u4fa1\u683c\u6226\u7565\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0:\u5f53\u793e\u306f\u6570\u5b57\u3092\u63d0\u4f9b\u3059\u308b\u3060\u3051\u3067\u306a\u304f\u3001\u4fa1\u683c\u8a2d\u5b9a\u306e\u7d50\u679c\u3092\u4ea4\u6e09\u3067\u6700\u3082\u52b9\u679c\u7684\u306b\u6d3b\u7528\u3067\u304d\u308b\u3088\u3046\u306b\u3059\u308b\u305f\u3081\u306e\u6226\u7565\u306b\u3064\u3044\u3066\u8aac\u660e\u3057\u3001\u30a2\u30c9\u30d0\u30a4\u30b9\u3059\u308b\u30b5\u30dd\u30fc\u30c8\u3082\u63d0\u4f9b\u3057\u3066\u3044\u307e\u3059\u3002<\/li>\n<\/ul>\n<p><span class=\"h-title\">10. \u3088\u304f\u3042\u308b\u8cea\u554f\uff08FAQ\uff09<\/span><\/p>\n<p style=\"text-align: justify;\">M&amp;A\u53d6\u5f15\u306e\u6e96\u5099\u3092\u3057\u3066\u3044\u308b\u4f01\u696d\u304b\u3089\u3088\u304f\u805e\u304b\u308c\u308b\u4e00\u822c\u7684\u306a\u8cea\u554f\u3092\u3044\u304f\u3064\u304b\u3054\u7d39\u4ecb\u3057\u307e\u3059\u3002<\/p>\n<p style=\"text-align: justify;\"><strong>a.\u00a0 \u306e\u300c\u4e8b\u696d\u8a55\u4fa1\u300d\u30b5\u30fc\u30d3\u30b9\u306f\u3001\u6cd5\u7684\u306b\u7fa9\u52d9\u4ed8\u3051\u3089\u308c\u305f\u300c\u9451\u5b9a\u300d\u3068\u3069\u3046\u9055\u3046\u306e\u3067\u3057\u3087\u3046\u304b?<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>\u4e3b\u306a\u9055\u3044\uff1aVinasc\u30b0\u30eb\u30fc\u30d7\u306e\u30b5\u30fc\u30d3\u30b9\u306f\u3001\u8ca1\u52d9\u30e2\u30c7\u30eb\u3068\u6226\u7565\u30e2\u30c7\u30eb\u306b\u57fa\u3065\u3044\u3066\u516c\u6b63\u4fa1\u5024<em>\u3092\u63a8\u5b9a\u3059\u308b\u3053\u3068\u3092<\/em>\u76ee\u7684\u3068\u3057\u305f\u3001\u7dbf\u5bc6\u306a\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u3067\u3059\u3002\u3053\u306e\u30b5\u30fc\u30d3\u30b9\u306f\u3001M&amp;A\u306b\u304a\u3051\u308b\u4ea4\u6e09\u3068\u610f\u601d\u6c7a\u5b9a\u3092\u652f\u63f4\u3057\u307e\u3059\u3002<\/li>\n<li>\u4e0d\u52d5\u7523\u8a55\u4fa1\u306f\u3001\u901a\u5e38\u306f\u7a0e\u52d9\u76ee\u7684\u3001\u62c5\u4fdd\u8981\u4ef6\u3001\u307e\u305f\u306f\u884c\u653f\u30b3\u30f3\u30d7\u30e9\u30a4\u30a2\u30f3\u30b9\u306e\u305f\u3081\u306b\u3001\u8cc7\u7523\u306e\u4fa1\u5024\u3092\u6c7a\u5b9a\u3059\u308b\u6cd5\u7684\u306b\u7fa9\u52d9\u4ed8\u3051\u3089\u308c\u305f\u6d3b\u52d5\u3067\u3059\u3002<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>b.\u00a0 Vinasc Group \u304c\u4e3b\u306b\u4f7f\u7528\u3057\u3066\u3044\u308b\u8a55\u4fa1\u65b9\u6cd5\u306f\u4f55\u3067\u3059\u304b?<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>M&amp;A\u306b\u304a\u3044\u3066\u3001Vinasc\u30b0\u30eb\u30fc\u30d7\u306f\u30a4\u30f3\u30ab\u30e0\u30fb\u30a2\u30d7\u30ed\u30fc\u30c1\u3001\u7279\u306b\u5272\u5f15\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\uff08DCF\uff09\u30e2\u30c7\u30eb\u3092\u91cd\u8996\u3057\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u306f\u3001\u4f01\u696d\u304c\u5c06\u6765\u751f\u307f\u51fa\u3059\u53ce\u76ca\u6027\u3068\u7d4c\u6e08\u4fa1\u5024\u3092\u6700\u3082\u6b63\u78ba\u306b\u53cd\u6620\u3059\u308b\u624b\u6cd5\u3060\u304b\u3089\u3067\u3059\u3002\u5ba2\u89b3\u6027\u306e\u691c\u8a3c\u3068\u5f37\u5316\u306e\u305f\u3081\u3001\u30a4\u30f3\u30ab\u30e0\u30fb\u30a2\u30d7\u30ed\u30fc\u30c1\u3068\u30de\u30fc\u30b1\u30c3\u30c8\u30fb\u30a2\u30d7\u30ed\u30fc\u30c1\u3092\u7d44\u307f\u5408\u308f\u305b\u308b\u3053\u3068\u3082\u3088\u304f\u3042\u308a\u307e\u3059\u3002<\/li>\n<\/ul>\n<h3 class=\"h23\" style=\"text-align: justify;\"><strong>c.\u00a0 \u8a55\u4fa1\u30ec\u30dd\u30fc\u30c8\u306e\u4f5c\u6210\u306b\u306f\u3069\u306e\u304f\u3089\u3044\u306e\u6642\u9593\u304c\u304b\u304b\u308a\u307e\u3059\u304b?<\/strong><\/h3>\n<ul style=\"text-align: justify;\">\n<li>\u671f\u9593\u306f\u3001\u4e8b\u696d\u306e\u898f\u6a21\u3068\u8907\u96d1\u3055\u3001\u305d\u3057\u3066\u521d\u671f\u306e\u8ca1\u52d9\u66f8\u985e\u306e\u8cea\u306b\u3088\u3063\u3066\u7570\u306a\u308a\u307e\u3059\u3002\u901a\u5e38\u3001\u3053\u306e\u30d7\u30ed\u30bb\u30b9\u306b\u306f4\u9031\u9593\u304b\u30898\u9031\u9593\u304b\u304b\u308a\u307e\u3059\u3002<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>d.\u00a0 Vinasc Group \u306e\u8a55\u4fa1\u30ec\u30dd\u30fc\u30c8\u306f\u4fa1\u683c\u4ea4\u6e09\u306b\u5f79\u7acb\u3061\u307e\u3059\u304b?<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li><strong>\u306f\u3044<\/strong>\u3002\u30ec\u30dd\u30fc\u30c8\u306b\u306f\u6570\u5b57\u3060\u3051\u3067\u306a\u304f\u3001\u611f\u5ea6\u5206\u6790\u3084\u4fa1\u683c\u6226\u7565\u306b\u95a2\u3059\u308b\u30a2\u30c9\u30d0\u30a4\u30b9\u3082\u542b\u307e\u308c\u3066\u304a\u308a\u3001\u30af\u30e9\u30a4\u30a2\u30f3\u30c8\uff08\u8cb7\u3044\u624b\u307e\u305f\u306f\u58f2\u308a\u624b\uff09\u304c\u4ea4\u6e09\u306e\u5834\u3067\u5805\u5b9f\u304b\u3064\u67d4\u8edf\u306a\u8b70\u8ad6\u3092\u5c55\u958b\u3059\u308b\u306e\u306b\u5f79\u7acb\u3061\u307e\u3059\u3002<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong>e.\u00a0 \u8a55\u4fa1\u76ee\u7684\u306e\u305f\u3081\u306b\u3001\u904e\u53bb\u306e\u8ca1\u52d9\u30c7\u30fc\u30bf\u304c\u5b8c\u5168\u306b\u300c\u30af\u30ea\u30fc\u30f3\u300d\u3067\u3042\u308b\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u304b?<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>\u30aa\u30d7\u30b7\u30e7\u30f3\u3002Vinasc\u30b0\u30eb\u30fc\u30d7\u306e\u5f79\u5272\u306f\u3001\u904e\u53bb\u306e\u8ca1\u52d9\u30c7\u30fc\u30bf\u3092\u5206\u6790\u30fb\u6b63\u898f\u5316\u3057\u3001\u7570\u5e38\u9805\u76ee\u3092\u6392\u9664\u3059\u308b\u3053\u3068\u3067\u5b9f\u969b\u306e\u5229\u76ca\u3092\u6c7a\u5b9a\u3059\u308b\u3053\u3068\u3067\u3059\u3002\u3053\u308c\u306f\u5ba2\u89b3\u7684\u306a\u8a55\u4fa1\u3092\u63d0\u4f9b\u3059\u308b\u4e0a\u3067\u91cd\u8981\u306a\u30b9\u30c6\u30c3\u30d7\u3067\u3059\u3002<\/li>\n<\/ul>\n<p><span class=\"h-title\">11. \u3054\u76f8\u8ac7\u306f\u304a\u554f\u3044\u5408\u308f\u305b\u304f\u3060\u3055\u3044 \u2013 \u4e8b\u696d\u8a55\u4fa1\u30ec\u30dd\u30fc\u30c8\u3092\u53d7\u3051\u53d6\u308a\u307e\u3059\u3002<\/span><\/p>\n<p style=\"text-align: justify;\"><strong>\u30d3\u30b8\u30cd\u30b9\u3092\u8cb7\u3046<\/strong>\u3001<strong>\u58f2\u308b<\/strong>\u3001\u307e\u305f\u306f<strong>\u8cc7\u672c\u3092\u8abf\u9054\u3059\u308b<\/strong>\u6e96\u5099\u3092\u3057\u3066\u3044\u308b\u5834\u5408\u306f\u3001\u307e\u305a\u30d3\u30b8\u30cd\u30b9\u306e\u9069\u6b63\u4fa1\u5024\u3092\u6c7a\u5b9a\u3059\u308b\u3053\u3068\u304b\u3089\u59cb\u3081\u307e\u3059\u3002<\/p>\n<p style=\"text-align: justify;\"><strong>Vinasc \u30b0\u30eb\u30fc\u30d7\u306f<\/strong>\u3001\u4fa1\u5024\u5206\u6790\u304b\u3089\u6226\u7565\u7684\u4ea4\u6e09\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u307e\u3067\u3001\u30d7\u30ed\u30bb\u30b9\u5168\u4f53\u3092\u901a\u3058\u3066\u304a\u5ba2\u69d8\u3092\u30b5\u30dd\u30fc\u30c8\u3057\u3001\u3042\u3089\u3086\u308b M&amp;A \u53d6\u5f15\u3067\u6700\u9069\u306a\u4fa1\u683c\u3092\u5b9f\u73fe\u3067\u304d\u308b\u3088\u3046\u304a\u624b\u4f1d\u3044\u3057\u307e\u3059\u3002<\/p>\n<p style=\"text-align: justify;\">\ud83d\udcde <strong>\u30db\u30c3\u30c8\u30e9\u30a4\u30f3: <\/strong>0971 112 118<br \/>\n\ud83d\udce9 <strong>\u30e1\u30fc\u30eb\u30a2\u30c9\u30ec\u30b9: <\/strong>M.and.A.Vinasc@gmail.com<br \/>\n\ud83c\udf10 <strong>\u30a6\u30a7\u30d6\u30b5\u30a4\u30c8: <\/strong>https:\/\/Vinasc.co<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>M&amp;A\u6d3b\u52d5\u306e\u305f\u3081\u306e\u4e8b\u696d\u8a55\u4fa1\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u30b5\u30fc\u30d3\u30b9\u3002 \u00a0M&amp;A\u306e\u6210\u5426\u306f\u3001\u9069\u5207\u306a\u30d1\u30fc\u30c8\u30ca\u30fc\u9078\u3073\u306b\u304b\u304b\u3063\u3066\u3044\u308b\u3068\u8a00\u3063\u3066\u3082\u904e\u8a00\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002\u3057\u304b\u3057\u3001\u81ea\u793e\u306e\u6226\u7565\u76ee\u6a19\u3084\u4f01\u696d\u6587\u5316\u3001\u305d\u3057\u3066\u8ca1\u52d9\u898f\u6a21\u306b\u5b8c\u74a7\u306b\u5408\u81f4\u3059\u308b\u4f01\u696d 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