{"id":16608,"date":"2026-09-14T07:29:29","date_gmt":"2026-09-13T22:29:29","guid":{"rendered":"https:\/\/remedy-tokyo.co.jp\/media\/?p=16608"},"modified":"2026-09-15T02:25:13","modified_gmt":"2026-09-14T17:25:13","slug":"%e4%b8%8d%e5%8b%95%e7%94%a3%e3%83%95%e3%82%a1%e3%83%b3%e3%83%89%e3%81%aedcf%e9%9d%a2%e6%8e%a5%e5%af%be%e7%ad%96%ef%bd%9c%e3%82%ad%e3%83%a3%e3%83%83%e3%83%97%e3%83%ac%e3%83%bc%e3%83%88%e3%82%84ltv","status":"publish","type":"post","link":"https:\/\/remedy-tokyo.co.jp\/media\/16608\/","title":{"rendered":"\u4e0d\u52d5\u7523\u30d5\u30a1\u30f3\u30c9\u306eDCF\u9762\u63a5\u5bfe\u7b56\uff5c\u30ad\u30e3\u30c3\u30d7\u30ec\u30fc\u30c8\u3084LTV\u3092\u52d5\u304b\u3057\u305f\u3068\u304d\u306e\u7b54\u3048\u65b9\u3092\u6570\u5024\u4f8b\u3067\u89e3\u8aac"},"content":{"rendered":"<div class=\"p-blogParts post_content\" data-partsID=\"4988\">\n<div class=\"swell-block-columns u-mb-ctrl u-mb-15\" data-valign=\"center\"><div class=\"swell-block-columns__inner\">\n<div class=\"swell-block-column swl-has-mb--s\" style=\"--clmn-w--mobile:33%;--clmn-w--tab:25%;--clmn-w--pc:20%\">\n<figure class=\"wp-block-image size-large is-style-rounded u-lb-off\"><img decoding=\"async\" width=\"854\" height=\"1024\" src=\"https:\/\/remedy-tokyo.co.jp\/media\/wp-content\/uploads\/2025\/04\/\u7dd2\u65b9-DSC01647_retouch-1-scaled-e1745021198285-854x1024.jpg\" alt=\"\" class=\"wp-image-4989\" style=\"aspect-ratio:1;object-fit:cover\" srcset=\"https:\/\/remedy-tokyo.co.jp\/media\/wp-content\/uploads\/2025\/04\/\u7dd2\u65b9-DSC01647_retouch-1-scaled-e1745021198285-854x1024.jpg 854w, https:\/\/remedy-tokyo.co.jp\/media\/wp-content\/uploads\/2025\/04\/\u7dd2\u65b9-DSC01647_retouch-1-scaled-e1745021198285-250x300.jpg 250w, https:\/\/remedy-tokyo.co.jp\/media\/wp-content\/uploads\/2025\/04\/\u7dd2\u65b9-DSC01647_retouch-1-scaled-e1745021198285-768x921.jpg 768w, https:\/\/remedy-tokyo.co.jp\/media\/wp-content\/uploads\/2025\/04\/\u7dd2\u65b9-DSC01647_retouch-1-scaled-e1745021198285-1280x1536.jpg 1280w, https:\/\/remedy-tokyo.co.jp\/media\/wp-content\/uploads\/2025\/04\/\u7dd2\u65b9-DSC01647_retouch-1-scaled-e1745021198285.jpg 1707w\" sizes=\"(max-width: 854px) 100vw, 854px\" \/><\/figure>\n<\/div>\n\n\n\n<div class=\"swell-block-column swl-has-mb--s\" style=\"--clmn-w--mobile:66%;--clmn-w--tab:75%;--clmn-w--pc:80%\">\n<p class=\"has-text-align-left u-mb-ctrl u-mb-5 has-xs-font-size wp-block-paragraph\"><span class=\"swl-bg-color has-swl-deep-02-background-color\"><strong> \u76e3\u4fee\u8005 <\/strong><\/span><\/p>\n\n\n\n<p class=\"u-mb-ctrl u-mb-0 has-xs-font-size wp-block-paragraph\" style=\"line-height:1.5\"><strong>\u30ea\u30e1\u30c7\u30a3\u682a\u5f0f\u4f1a\u793e \u30d8\u30c3\u30c9\u30cf\u30f3\u30bf\u30fc<\/strong><\/p>\n\n\n\n<p class=\"u-mb-ctrl u-mb-5 has-xs-font-size wp-block-paragraph\" style=\"line-height:1.5\"><strong>\u7dd2\u65b9 \u9686\u606d | OGATA Takayuki<\/strong><\/p>\n\n\n\n<p class=\"has-xs-font-size wp-block-paragraph\">\u6771\u4eac\u5927\u5b66\u3092\u5352\u696d\u5f8c\u3001\u4e09\u83f1UFJ\u9280\u884c\u306b\u65b0\u5352\u5165\u793e\u3002\u56fd\u5185\u652f\u5e97\u3067MUFG\u306e\u5404\u7a2e\u91d1\u878d\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u306e\u6cd5\u4eba\u55b6\u696d\u306b\u5f93\u4e8b\u3057\u3001\u9280\u884c\u8868\u5f70\u3092\u53d7\u8cde\u3002\u5165\u793e3\u5e74\u76ee\u3067\u6d77\u5916\u62e0\u70b9\u306b\u7570\u52d5\u30fb\u99d0\u5728\u3057\u3001\u73fe\u5730\u9032\u51fa\u65e5\u7cfb\u4f01\u696d\u3078\u306e\u878d\u8cc7\u30fb\u9810\u91d1\u30fb\u70ba\u66ff\u30c7\u30ea\u30d0\u30c6\u30a3\u30d6\u5546\u54c1\u7b49\u306e\u6cd5\u4eba\u55b6\u696d\u3092\u62c5\u5f53\u3002<br>\u305d\u306e\u5f8c\u3001\u4e09\u83f1UFJ\u30e2\u30eb\u30ac\u30f3\u30fb\u30b9\u30bf\u30f3\u30ec\u30fc\u8a3c\u5238\u306b\u51fa\u5411\u3057\u3001\u6295\u8cc7\u9280\u884c\u672c\u90e8\u306b\u3066\u30ab\u30d0\u30ec\u30c3\u30b8\u696d\u52d9\u306b\u5f93\u4e8b\u3002\u4e0a\u5834\u4f01\u696d\u306eM&amp;A\uff08TOB\u30fb\u7d4c\u55b6\u7d71\u5408\u7b49\uff09\u3084\u30a8\u30af\u30a4\u30c6\u30a3\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\uff08IPO\u30fbPO\u7b49\uff09\u306e\u30aa\u30ea\u30b8\u30cd\u30fc\u30b7\u30e7\u30f3\uff08\u6848\u4ef6\u7372\u5f97\u6d3b\u52d5\uff09\u30fb\u30a8\u30b0\u30bc\u30ad\u30e5\u30fc\u30b7\u30e7\u30f3\uff08\u6848\u4ef6\u57f7\u884c\uff09\u3092\u7d4c\u9a13\u3002\u73fe\u5728\u306f\u30cf\u30a4\u30ad\u30e3\u30ea\u30a2\u5c64\u3084\u91d1\u878d\u30d7\u30ed\u30d5\u30a7\u30c3\u30b7\u30e7\u30ca\u30eb\u3092\u4e2d\u5fc3\u3068\u3057\u305f\u63a1\u7528\u30fb\u8ee2\u8077\u652f\u63f4\u3092\u884c\u3046\u3002<\/p>\n<\/div>\n<\/div><\/div>\n\n\n\n<div class=\"swell-block-button blue_ is-style-btn_normal\"><a href=\"https:\/\/remedy-search.com\/highclass-career?utm_source=organic&#038;utm_medium=seo&#038;utm_campaign=hp_001&#038;utm_term=hp_&#038;utm_content=hp_L9_240621_supervisor\" class=\"swell-block-button__link\" data-has-icon=\"1\"><svg class=\"__icon\" height=\"1em\" width=\"1em\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" viewBox=\"0 0 48 48\"><path d=\"M19 2.3C9.1 2.3 1 9.7 1 18.7c0 3.5 1.2 6.7 3.3 9.4l-1.5 6.3c-.2.8.6 1.5 1.4 1.1l6-2.6c2.6 1.3 5.6 2.1 8.8 2.1 9.9 0 18-7.3 18-16.4 0-8.9-8.1-16.3-18-16.3z\"><\/path><path d=\"M43.7 38.1c2.1-2.7 3.3-5.9 3.3-9.4 0-9-8.1-16.4-18-16.4s-18 7.3-18 16.4c0 9 8.1 16.4 18 16.4 3.2 0 6.2-.8 8.8-2.1l6 2.6c.8.3 1.6-.3 1.4-1.1l-1.5-6.4zM15 28.7c0-6.8 6.3-12.4 14-12.4s14 5.5 14 12.4-6.3 12.4-14 12.4-14-5.6-14-12.4z\"><\/path><\/svg><span>\u3053\u306e\u76e3\u4fee\u8005\u306b\u76f8\u8ac7\u3059\u308b<\/span><\/a><\/div>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">NOI\u3068NCF\u3092\u53d6\u308a\u9055\u3048\u3066\u540c\u30585%\u3067\u5272\u308b\u3060\u3051\u3067\u300110\u5104\u5186\u306e\u7269\u4ef6\u306e\u4fa1\u683c\u306f8,000\u4e07\u5186\u305a\u308c\u307e\u3059\uff08\u672c\u8a18\u4e8b\u306e\u67b6\u7a7a\u306e\u6570\u5024\u4f8b\uff09\u3002\u4e0d\u52d5\u7523\u30d5\u30a1\u30f3\u30c9\u306e\u53d6\u5f97\u8077\uff08\u30a2\u30af\u30a4\u30b8\u30b7\u30e7\u30f3\uff09\u306e\u9762\u63a5\u6e96\u5099\u3067\u306f\u3001\u8a08\u7b97\u306e\u901f\u3055\u3088\u308a<b><span class=\"swl-marker mark_yellow\">\u524d\u63d0\u304b\u3089\u4fa1\u683c\u307e\u3067\u306e\u9806\u756a<\/span><\/b>\u3092\u56fa\u3081\u307e\u3059\u3002\u305d\u306e\u3046\u3048\u3067\u3001\u30ad\u30e3\u30c3\u30d7\u30ec\u30fc\u30c8\u3084\u58f2\u5374\u6642\u306e\u5229\u56de\u308a\u3092\u52d5\u304b\u3057\u305f\u3068\u304d\u3001\u4fa1\u683c\u3068IRR\u304c\u3069\u3061\u3089\u3078\u52d5\u304f\u304b\u3092\u5148\u306b\u8a00\u3048\u308b\u3088\u3046\u306b\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u7528\u8a9e\u306f\u56fd\u571f\u4ea4\u901a\u7701\u306e\u4e0d\u52d5\u7523\u9451\u5b9a\u8a55\u4fa1\u57fa\u6e96\u306e\u5b9a\u7fa9\u306b\u5408\u308f\u305b\u3001\u6570\u5024\u306f\u8aac\u660e\u7528\u306b\u7f6e\u3044\u305f\u67b6\u7a7a\u306e\u524d\u63d0\u3067\u8a08\u7b97\u3057\u307e\u3059\u3002\u5b9f\u5728\u306e\u7269\u4ef6\u3084\u5e02\u5834\u306e\u5229\u56de\u308a\u6c34\u6e96\u3092\u793a\u3059\u3082\u306e\u3067\u306f\u306a\u304f\u3001\u6295\u8cc7\u3092\u52e7\u3081\u308b\u5185\u5bb9\u3067\u3082\u3042\u308a\u307e\u305b\u3093\u3002\u9078\u8003\u306e\u5f62\u5f0f\u306f\u4f1a\u793e\u3054\u3068\u306b\u9055\u3046\u305f\u3081\u3001\u516c\u5f0f\u306b\u78ba\u8a8d\u3067\u304d\u305f\u7bc4\u56f2\u3060\u3051\u3092\u66f8\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u60f3\u5b9a\u3057\u3066\u3044\u308b\u306e\u306f\u3001\u9280\u884c\u306e\u4e0d\u52d5\u7523\u878d\u8cc7\u3001\u30c7\u30d9\u30ed\u30c3\u30d1\u30fc\u3001\u58f2\u8cb7\u4ef2\u4ecb\u3001\u4e0d\u52d5\u7523\u9451\u5b9a\u3001\u30d7\u30ed\u30d1\u30c6\u30a3\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\uff08PM\uff09\u306e\u7d4c\u9a13\u3092\u6301\u3061\u3001\u4e0d\u52d5\u7523\u30d5\u30a1\u30f3\u30c9\u3084\u4e0d\u52d5\u7523AM\u4f1a\u793e\u306e\u53d6\u5f97\u8077\u306b\u5fdc\u52df\u3057\u3088\u3046\u3068\u3057\u3066\u3044\u308b\u4eba\u3067\u3059\u3002\u4f01\u696d\u8cb7\u53ce\u306eLBO\u306e\u624b\u8a08\u7b97\u306f\u3001<a href=\"https:\/\/remedy-tokyo.co.jp\/media\/13561\/\">PE\u30d5\u30a1\u30f3\u30c9\u306ePaper LBO\u9762\u63a5\u5bfe\u7b56<\/a>\u3067\u6271\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u672c\u8a18\u4e8b\u306e\u30dd\u30a4\u30f3\u30c8\uff5c\u8a08\u7b97\u306f\u524d\u63d0\u3068\u5411\u304d\u3092\u30bb\u30c3\u30c8\u3067\u8a71\u3059<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u9762\u63a5\u306e\u524d\u306b\u78ba\u304b\u3081\u305f\u3044\u306e\u306f\u3001\u6570\u5b57\u3092\u51fa\u3059\u9806\u756a\u3068\u3001<b><span class=\"swl-marker mark_yellow\">\u524d\u63d0\u3092\u52d5\u304b\u3057\u305f\u3068\u304d\u306e\u7d50\u679c\u306e\u5411\u304d<\/span><\/b>\u3092\u81ea\u5206\u306e\u8a00\u8449\u3067\u8a00\u3048\u308b\u304b\u3069\u3046\u304b\u3067\u3059\u3002<\/p>\n\n\n<div class=\"c-scrollHint sp_\"><span>\u30b9\u30af\u30ed\u30fc\u30eb\u3067\u304d\u307e\u3059 <i class=\"icon-more_arrow\"><\/i><\/span><\/div>\n<figure data-table-scrollable=\"sp\" class=\"wp-block-table min_width20_\">\n<table style=\"--table-width:760px;\">\n<thead><tr><th>\u9805\u76ee<\/th><th>\u8981\u70b9<\/th><th>\u672c\u6587\u306e\u6839\u62e0<\/th><\/tr><\/thead>\n<tbody>\n<tr><td>\u8aac\u660e\u306e\u9806\u756a<\/td><td>\u6e80\u5ba4\u60f3\u5b9a\u306e\u53ce\u5165 \u2192 \u7a7a\u5ba4\u7b49\u640d\u5931 \u2192 \u904b\u55b6\u8cbb\u7528 \u2192 NOI \u2192 \u4e00\u6642\u91d1\u306e\u904b\u7528\u76ca\u3068\u8cc7\u672c\u7684\u652f\u51fa \u2192 NCF \u2192 \u4fa1\u683c<\/td><td>\u4e0d\u52d5\u7523\u9451\u5b9a\u8a55\u4fa1\u57fa\u6e96\u306e\u53ce\u76ca\u8cbb\u7528\u9805\u76ee<\/td><\/tr>\n<tr><td>\u6700\u521d\u306b\u8a00\u3048\u308b\u3088\u3046\u306b\u3059\u308b\u5e45<\/td><td>\u5229\u56de\u308a5%\u306e\u4f8b\u3067\u306f\u30010.1pt\u4e0a\u304c\u308b\u3068\u4fa1\u683c\u306f\u7d042%\u4e0b\u304c\u308b<\/td><td>\u30ad\u30e3\u30c3\u30d7\u30ec\u30fc\u30c8\u306e\u611f\u5fdc\u5ea6\u8868<\/td><\/tr>\n<tr><td>DCF\u3067\u7406\u7531\u3092\u8a71\u3059\u524d\u63d0<\/td><td>\u5272\u5f15\u7387\u3001\u58f2\u5374\u6642\u306e\u5229\u56de\u308a\uff08\u6700\u7d42\u9084\u5143\u5229\u56de\u308a\uff09\u3001\u58f2\u5374\u8cbb\u7528<\/td><td>DCF\u306e\u5dee\u306e\u5206\u89e3\u8868\u30fb\u611f\u5fdc\u5ea6\u8868<\/td><\/tr>\n<tr><td>\u501f\u5165\u3092\u5165\u308c\u305f\u3068\u304d\u306e\u8aac\u660e<\/td><td>LTV\u3092\u4e0a\u3052\u305f\u3068\u304d\u306eIRR\u306f\u3001\u4e0a\u632f\u308c\u3068\u4e0b\u632f\u308c\u306e\u4e21\u65b9\u3092\u793a\u3059<\/td><td>LTV\u3068\u51fa\u53e3\u5229\u56de\u308a\u5225\u306eIRR\u8868<\/td><\/tr>\n<tr><td>\u9078\u8003\u306e\u5f62\u5f0f<\/td><td>\u78ba\u8a8d\u3057\u305f\u52df\u96c6\u8981\u9805\u306b\u3001DCF\u3084\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u30e2\u30c7\u30eb\u306e\u8ab2\u984c\u306e\u8a18\u8f09\u306f\u306a\u3044\u3002\u5fdc\u52df\u5148\u306b\u78ba\u8a8d\u3059\u308b<\/td><td>\u5404\u793e\u306e\u52df\u96c6\u8981\u9805<\/td><\/tr>\n<tr><td>\u5fdc\u52df\u306e\u5224\u65ad<\/td><td>4\u3064\u306e\u8868\u3092\u524d\u63d0\u304b\u3089\u8aac\u660e\u3067\u304d\u308b\u304b\u3067\u3001\u4eca\u5fdc\u52df\u30fb\u671f\u4e2dAM\u304b\u3089\u30fb\u5b66\u7fd2\u3092\u5148\u306b\u3001\u3092\u5206\u3051\u308b<\/td><td>\u5fdc\u52df\u65b9\u91dd\u306e\u8868<\/td><\/tr>\n<\/tbody>\n<\/table>\n<figcaption class=\"wp-element-caption\">\u51fa\u6240\uff1a\u56fd\u571f\u4ea4\u901a\u7701\u300c\u4e0d\u52d5\u7523\u9451\u5b9a\u8a55\u4fa1\u57fa\u6e96\u300d\u3001\u5404\u793e\u306e\u516c\u5f0f\u63a1\u7528\u30da\u30fc\u30b8\u3001\u5f0a\u793e\u4f5c\u6210\u306e\u67b6\u7a7a\u306e\u6570\u5024\u4f8b<\/figcaption>\n<\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u8868\u306e\u6570\u5b57\u306f\u3001\u81ea\u5206\u304c\u6271\u3063\u3066\u304d\u305f\u6848\u4ef6\u306e\u898f\u6a21\u306b\u7f6e\u304d\u63db\u3048\u3066\u8aad\u3093\u3067\u304b\u307e\u3044\u307e\u305b\u3093\u3002\u9806\u756a\u3068\u5411\u304d\u304c\u8a00\u3048\u308c\u3070\u3001\u91d1\u984d\u304c\u5909\u308f\u3063\u3066\u3082\u8aac\u660e\u306f\u5d29\u308c\u306a\u3044\u304b\u3089\u3067\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u53d6\u5f97\u8077\u306e\u52df\u96c6\u8981\u9805\u304c\u6c42\u3081\u308b\u8a08\u7b97\u306f\u300c\u4fa1\u683c\u306e\u524d\u63d0\u3092\u8aac\u660e\u3059\u308b\u529b\u300d<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u4e0b\u306e\u8868\u306b\u6319\u3052\u305f7\u793e\u306e8\u3064\u306e\u52df\u96c6\u8981\u9805\u30fb\u63a1\u7528\u30da\u30fc\u30b8\u306f\u3001\u3044\u305a\u308c\u3082<b><span class=\"swl-marker mark_yellow\">\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u5206\u6790\u3084\u8a55\u4fa1<\/span><\/b>\u3092\u53d6\u5f97\u306e\u4ed5\u4e8b\u305d\u306e\u3082\u306e\u3068\u3057\u3066\u66f8\u3044\u3066\u3044\u307e\u3059\u3002\u8a00\u8449\u306f\u4f1a\u793e\u3054\u3068\u306b\u9055\u3046\u305f\u3081\u3001\u9762\u63a5\u3067\u8aac\u660e\u3092\u539a\u304f\u3057\u305f\u3044\u8ad6\u70b9\u3082\u5c11\u3057\u305a\u3064\u5909\u308f\u308a\u307e\u3059\u3002<\/p>\n\n\n<div class=\"c-scrollHint sp_\"><span>\u30b9\u30af\u30ed\u30fc\u30eb\u3067\u304d\u307e\u3059 <i class=\"icon-more_arrow\"><\/i><\/span><\/div>\n<figure data-table-scrollable=\"sp\" class=\"wp-block-table min_width20_\">\n<table style=\"--table-width:860px;\">\n<thead><tr><th>\u4f1a\u793e\u30fb\u6c42\u4eba<\/th><th>\u52df\u96c6\u8981\u9805\u306b\u3042\u308b\u8a08\u7b97\u306b\u95a2\u308f\u308b\u8a18\u8f09<\/th><th>\u9762\u63a5\u3067\u8aac\u660e\u3092\u539a\u304f\u3057\u305f\u3044\u8ad6\u70b9\uff08\u30ea\u30e1\u30c7\u30a3\u306e\u898b\u89e3\uff09<\/th><\/tr><\/thead>\n<tbody>\n<tr><td>\u30af\u30ea\u30a2\u30eb\uff0f\u30a2\u30af\u30a4\u30b8\u30b7\u30e7\u30f3<\/td><td>\u30ec\u30f3\u30c8\u30ed\u30fc\u30eb\u7b49\u306e\u8cc7\u6599\u7cbe\u67fb\u3001\u30a8\u30af\u30bb\u30eb\u3092\u7528\u3044\u305f\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u5206\u6790\u3001\u6295\u8cc7\u63a1\u7b97\u6027\u306e\u691c\u8a0e<\/td><td>NOI\u304b\u3089NCF\u3078\u306e\u7d44\u307f\u7acb\u3066\u3068\u3001\u63a1\u7b97\u306e\u5224\u65ad<\/td><\/tr>\n<tr><td>DBJ\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\uff0f\u30a2\u30af\u30a4\u30b8\u30b7\u30e7\u30f3\u62c5\u5f53<\/td><td>\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u3001\u30c7\u30e5\u30fc\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u3001\u30ce\u30f3\u30ea\u30b3\u30fc\u30b9\u30ed\u30fc\u30f3\u306e\u8abf\u9054\u3092\u542b\u3080\u30d5\u30a1\u30f3\u30c9\u7d44\u6210<\/td><td>\u4fa1\u683c\u306e\u6839\u62e0\u3068\u501f\u5165\u306e\u6761\u4ef6\uff08LTV\uff09<\/td><\/tr>\n<tr><td>SMBC\u30ea\u30fc\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\uff08\u4e09\u4e95\u4f4f\u53cb\u9280\u884c\u306e\u52df\u96c6\uff09\uff0f\u8cc7\u7523\u53d6\u5f97<\/td><td>\u7269\u4ef6\u8a55\u4fa1\u3001\u30c7\u30e5\u30fc\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u5b9f\u52d9\u3001\u4ea4\u6e09\u30fb\u8abf\u6574\u3001\u5951\u7d04\u306e\u4f5c\u6210\u30fb\u7de0\u7d50<\/td><td>\u8a55\u4fa1\u306e\u524d\u63d0\u3068\u4ea4\u6e09\u6761\u4ef6\u306e\u3064\u306a\u304c\u308a<\/td><\/tr>\n<tr><td>\u30de\u30ea\u30e2\u30fb\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\uff0f\u6295\u8cc7\u90e8 \u30a2\u30af\u30a4\u30b8\u30b7\u30e7\u30f3<\/td><td>\u300c\u30d0\u30ea\u30a8\u30fc\u30b7\u30e7\u30f3\uff08\u5bfe\u8c61\u4e0d\u52d5\u7523\u306e\u8a55\u4fa1\uff09\u300d\u300c\u30a2\u30f3\u30c0\u30fc\u30e9\u30a4\u30c6\u30a3\u30f3\u30b0\uff08\u6295\u8cc7\u5206\u6790\uff09\u300d<\/td><td>\u8a55\u4fa1\u3068\u6295\u8cc7\u5206\u6790\u306e\u9055\u3044<\/td><\/tr>\n<tr><td>\u971e\u30f6\u95a2\u30ad\u30e3\u30d4\u30bf\u30eb\uff0f\u6d77\u5916\u4e0d\u52d5\u7523\u30d5\u30a1\u30f3\u30c9\u6295\u8cc7\u30fbAM\u62c5\u5f53<\/td><td>\u30a2\u30f3\u30c0\u30fc\u30e9\u30a4\u30c6\u30a3\u30f3\u30b0\u3001\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u5206\u6790\u3001\u6295\u8cc7\u59d4\u54e1\u4f1a\u8cc7\u6599\u7b49\u306e\u4f5c\u6210\u3002\u6b53\u8fce\u8981\u4ef6\u306b\u8ca1\u52d9\u30e2\u30c7\u30ea\u30f3\u30b0<\/td><td>\u611f\u5fdc\u5ea6\u3068\u3001\u6295\u8cc7\u5224\u65ad\u8cc7\u6599\u3067\u306e\u898b\u305b\u65b9<\/td><\/tr>\n<tr><td>\u971e\u30f6\u95a2\u30ad\u30e3\u30d4\u30bf\u30eb\uff0f\u30a2\u30af\u30a4\u30b8\u30b7\u30e7\u30f3\u62c5\u5f53\uff08\u4e0d\u52d5\u7523\u6d41\u52d5\u5316\u4e8b\u696d\uff09<\/td><td>\u4e8b\u696d\u53ce\u652f\u691c\u8a3c\u3001\u30a2\u30f3\u30c0\u30fc\u30e9\u30a4\u30c6\u30a3\u30f3\u30b0\u3002\u5fc5\u9808\u8981\u4ef6\u306b\u300c\u4e8b\u696d\u53ce\u652f\u3092\u81ea\u3089\u7d44\u6210\u3067\u304d\u308b\u65b9\u300d<\/td><td>\u53ce\u652f\u3092\u81ea\u5206\u3067\u7d44\u3093\u3060\u7d4c\u9a13<\/td><\/tr>\n<tr><td>\u5927\u548c\u30cf\u30a6\u30b9\u30fb\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\uff0f\u63a1\u7528\u60c5\u5831<\/td><td>\u30a2\u30af\u30a4\u30b8\u30b7\u30e7\u30f3\u3092\u300c\u30de\u30fc\u30b1\u30c3\u30c8\u3084\u6295\u8cc7\u53ce\u76ca\u6027\u306e\u5206\u6790\u3001\u4e0d\u52d5\u7523\u306e\u53d6\u5f97\u30fb\u58f2\u5374\u300d\u3068\u8aac\u660e<\/td><td>\u53d6\u5f97\u6642\u3068\u58f2\u5374\u6642\u306e\u524d\u63d0<\/td><\/tr>\n<tr><td>\u5927\u540c\u751f\u547d\u4fdd\u967a\uff0f\u4e0d\u52d5\u7523AM\u696d\u52d9<\/td><td>\u4fdd\u6709\u4e0d\u52d5\u7523\u306eAM\u3068\u3001\u65b0\u898f\u6295\u8cc7\u6848\u4ef6\u306e\u7372\u5f97\u30fb\u8a55\u4fa1\u30fb\u6295\u8cc7\u5b9f\u884c\u3092\u62c5\u5f53<\/td><td>\u671f\u4e2d\u306e\u6570\u5b57\u3068\u53d6\u5f97\u5224\u65ad\u306e\u3064\u306a\u304c\u308a<\/td><\/tr>\n<\/tbody>\n<\/table>\n<figcaption class=\"wp-element-caption\">\u51fa\u6240\uff1a\u5404\u793e\u306e\u516c\u5f0f\u63a1\u7528\u30da\u30fc\u30b8\uff082026\u5e749\u670814\u65e5\u78ba\u8a8d\uff09\u3002\u53f3\u5217\u306f\u30ea\u30e1\u30c7\u30a3\u306e\u898b\u89e3<\/figcaption>\n<\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">\u6570\u5b57\u3092\u51fa\u3057\u305f\u3042\u3068\u306e\u8aac\u660e\u307e\u3067\u8077\u52d9\u306b\u542b\u307e\u308c\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u30af\u30ea\u30a2\u30eb\u306f\u300c\u30a8\u30af\u30bb\u30eb\u3092\u7528\u3044\u305f\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u5206\u6790\u3001\u6295\u8cc7\u63a1\u7b97\u6027\u306e\u691c\u8a0e\u300d\u3092\u3001\u971e\u30f6\u95a2\u30ad\u30e3\u30d4\u30bf\u30eb\u306f\u300c\u6295\u8cc7\u5224\u65ad\u8cc7\u6599\u3001\u6295\u8cc7\u59d4\u54e1\u4f1a\u8cc7\u6599\u7b49\u306e\u4f5c\u6210\u300d\u3092\u8077\u52d9\u306b\u6319\u3052\u3066\u3044\u307e\u3059\u3002\u3069\u3061\u3089\u3082\u3001\u51fa\u3057\u305f\u6570\u5b57\u3092\u5224\u65ad\u306b\u4f7f\u3046\u5de5\u7a0b\u307e\u3067\u542b\u3081\u305f\u66f8\u304d\u65b9\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u3053\u306f\u30ea\u30e1\u30c7\u30a3\u306e\u898b\u89e3\u3067\u3059\u304c\u3001\u9762\u63a5\u3067\u5dee\u304c\u3064\u304f\u306e\u306f\u8a08\u7b97\u306e\u901f\u3055\u3088\u308a\u3001<b><span class=\"swl-marker mark_yellow\">\u524d\u63d0\u3092\u7f6e\u3044\u305f\u9806\u756a\u3092\u8a71\u305b\u308b\u304b<\/span><\/b>\u3067\u3059\u3002\u6570\u5b57\u3092\u5224\u65ad\u306b\u4f7f\u3046\u8077\u52d9\u306a\u306e\u3067\u3001\u7b54\u3048\u306e\u6570\u5b57\u3068\u540c\u3058\u304f\u3089\u3044\u3001\u3069\u306e\u524d\u63d0\u3092\u52d5\u304b\u3059\u3068\u7d50\u8ad6\u304c\u5909\u308f\u308b\u304b\u3092\u8aac\u660e\u3067\u304d\u308b\u3088\u3046\u306b\u6e96\u5099\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u8a08\u7b97\u8ab2\u984c\u306e\u6709\u7121\u306f\u3001\u5fdc\u52df\u5148\u3054\u3068\u306b\u78ba\u8a8d\u3059\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u78ba\u8a8d\u3057\u305f\u52df\u96c6\u8981\u9805\u306b\u306f\u3001DCF\u3084\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u30e2\u30c7\u30eb\u306e\u8a66\u9a13\u3092\u9078\u8003\u3067\u8ab2\u3059\u3068\u3044\u3046\u8a18\u8f09\u306f\u3042\u308a\u307e\u305b\u3093\u3067\u3057\u305f\u3002\u9078\u8003\u306e\u6d41\u308c\u3092\u8f09\u305b\u3066\u3044\u308b\u4f8b\u3067\u306f\u3001DBJ\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u306e\u30a2\u30af\u30a4\u30b8\u30b7\u30e7\u30f3\u62c5\u5f53\u304c<b><span class=\"swl-marker mark_yellow\">\u30aa\u30f3\u30e9\u30a4\u30f3\u306e\u9069\u6027\u8a66\u9a13\u3068\u9762\u63a53\u56de<\/span><\/b>\uff08\u9078\u8003\u3092\u901a\u3058\u3066\u5909\u66f4\u306e\u53ef\u80fd\u6027\u3042\u308a\uff09\u3068\u66f8\u3044\u3066\u3044\u307e\u3059\u3002\u30de\u30ea\u30e2\u30fb\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u306e\u63a1\u7528\u30da\u30fc\u30b8\u306f\u3001\u30ab\u30b8\u30e5\u30a2\u30eb\u9762\u8ac7\u3001\u5f79\u54e1\u9762\u8ac7\u3001SPI\u8a66\u9a13\u306b\u3088\u308b\u9069\u6027\u8a55\u4fa1\u3068\u89aa\u4f1a\u793e\u306e\u4eba\u4e8b\u90e8\u3068\u306e\u78ba\u8a8d\u9762\u8ac7\u3092\u9806\u306b\u6319\u3052\u3001\u30dd\u30b8\u30b7\u30e7\u30f3\u306b\u3088\u3063\u3066\u56de\u6570\u3084\u9806\u756a\u304c\u5909\u308f\u308b\u5834\u5408\u304c\u3042\u308b\u3068\u3057\u3066\u3044\u307e\u3059\u3002\u3069\u3061\u3089\u3082\u3001DCF\u3084\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u30e2\u30c7\u30eb\u306e\u8ab2\u984c\u304c\u3042\u308b\u3068\u306f\u66f8\u3044\u3066\u3044\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u5f62\u5f0f\u304c\u5206\u304b\u3089\u306a\u3044\u4ee5\u4e0a\u3001\u540c\u3058\u6570\u5024\u4f8b\u3092\u6b21\u306e3\u3064\u306e\u5f62\u3067\u8aac\u660e\u3067\u304d\u308b\u3088\u3046\u306b\u3057\u3066\u304a\u304f\u3068\u614c\u3066\u305a\u306b\u6e08\u307f\u307e\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u53e3\u982d\u3067\u805e\u304b\u308c\u305f\u5834\u5408\uff1a\u7d50\u8ad6\u306e\u5411\u304d\u3068\u7f6e\u3044\u305f\u524d\u63d0\u3092\u5148\u306b\u8a00\u3044\u3001\u6570\u5b57\u306f\u4e38\u3081\u3066\u7b54\u3048\u308b<\/li>\n<li>\u305d\u306e\u5834\u3067\u624b\u8a08\u7b97\u3092\u6c42\u3081\u3089\u308c\u305f\u5834\u5408\uff1aNOI\u3001NCF\u3001\u4fa1\u683c\u306e\u9806\u306b\u9014\u4e2d\u5f0f\u3092\u66f8\u304d\u306a\u304c\u3089\u8a71\u3059<\/li>\n<li>Excel\u3067\u306e\u4f5c\u6210\u3092\u6c42\u3081\u3089\u308c\u305f\u5834\u5408\uff1a\u524d\u63d0\u306e\u30bb\u30eb\u3068\u8a08\u7b97\u306e\u30bb\u30eb\u3092\u5206\u3051\u3001\u611f\u5fdc\u5ea6\u306e\u8868\u3092\u4ed8\u3051\u308b<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u5f62\u5f0f\u306f\u3001\u9762\u63a5\u306e\u6848\u5185\u3092\u53d7\u3051\u305f\u6bb5\u968e\u3067\u78ba\u304b\u3081\u3066\u304b\u307e\u3044\u307e\u305b\u3093\u3002\u300c\u9078\u8003\u3067\u8a08\u7b97\u3084\u30e2\u30c7\u30eb\u4f5c\u6210\u306e\u8ab2\u984c\u306f\u3042\u308a\u307e\u3059\u304b\u3002\u3042\u308b\u5834\u5408\u306f\u53e3\u982d\u3001\u305d\u306e\u5834\u3067\u306e\u624b\u8a08\u7b97\u3001Excel\u306e\u3069\u306e\u5f62\u5f0f\u3067\u3059\u304b\u300d\u3068\u805e\u3051\u3070\u3001\u6e96\u5099\u306e\u914d\u5206\u3092\u6c7a\u3081\u3089\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u5fdc\u52df\u3092\u8003\u3048\u3066\u3044\u308b\u6c42\u4eba\u304c\u8907\u6570\u3042\u308b\u3068\u3001\u9762\u63a5\u306e\u6848\u5185\u3092\u5f85\u305f\u305a\u306b\u6e96\u5099\u3092\u59cb\u3081\u305f\u3044\u5834\u9762\u3082\u3042\u308a\u307e\u3059\u3002\u6c42\u4eba\u3054\u3068\u306b\u51fa\u3084\u3059\u3044\u5f62\u5f0f\u306e\u898b\u5f53\u306f\u3001\u8ee2\u8077\u30a8\u30fc\u30b8\u30a7\u30f3\u30c8\u3068\u306e\u9762\u8ac7\u3067\u6c42\u4eba\u3092\u4e26\u3079\u308b\u3068\u4ed8\u3051\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n<style>.rmd-cta {\n  --rmd-black: #11110f;\n  --rmd-gold: #a2965a;\n  --rmd-gold-light: #eadb86;\n  --rmd-gray-800: #333;\n  --rmd-gray-600: #555;\n  --rmd-gray-300: #dcdcdc;\n  position: relative;\n  width: 100%;\n  margin: 34px 0;\n  color: var(--rmd-gray-800);\n  font-family: inherit;\n  font-size: 16px;\n  font-weight: 500;\n  line-height: 1.8;\n  text-align: left;\n  container-name: rmd-cta;\n  container-type: inline-size;\n}\n\n.rmd-cta--button_only {\n  display: flex;\n  justify-content: center;\n  margin: 32px auto;\n  padding: 0 16px;\n}\n\n.rmd-cta--button_only .rmd-cta__button {\n  width: min(100%, 490px);\n  min-height: 64px;\n  justify-content: center;\n  gap: 12px;\n  border: 2px solid #111;\n  border-radius: 8px;\n  background: #ead984;\n  color: #111;\n  font-size: 18px;\n  font-weight: 700;\n}\n\n.rmd-cta,\n.rmd-cta * {\n  box-sizing: border-box;\n}\n\n.rmd-cta .rmd-cta__frame {\n  position: relative;\n  overflow: hidden;\n  padding: 16px 18px 17px;\n  background: #fff;\n  border-top: 1px solid var(--rmd-gray-300);\n  border-right: 0;\n  border-bottom: 1px solid var(--rmd-gray-300);\n  border-left: 0;\n  border-radius: 0;\n}\n\n.rmd-cta .rmd-cta__frame::before {\n  position: absolute;\n  top: -1px;\n  bottom: -1px;\n  left: 0;\n  width: 6px;\n  background: var(--rmd-gold);\n  content: \"\";\n  transform: scaleY(0);\n  transform-origin: top;\n  transition: transform 580ms cubic-bezier(0.22, 1, 0.36, 1);\n}\n\n.rmd-cta--visible .rmd-cta__frame::before {\n  transform: scaleY(1);\n}\n\n.rmd-cta .rmd-cta__header,\n.rmd-cta .rmd-cta__heading,\n.rmd-cta .rmd-cta__eyebrow,\n.rmd-cta .rmd-cta__body,\n.rmd-cta .rmd-cta__decision,\n.rmd-cta .rmd-cta__benefits,\n.rmd-cta .rmd-cta__action,\n.rmd-cta .rmd-cta__meta {\n  margin: 0;\n  padding: 0;\n}\n\n.rmd-cta .rmd-cta__eyebrow {\n  color: #5f572f;\n  font-size: 12px;\n  font-weight: 700;\n  letter-spacing: 0.02em;\n  line-height: 1.5;\n}\n\n.rmd-cta .rmd-cta__heading {\n  margin-top: 3px;\n  color: var(--rmd-gray-800);\n  font-size: 21px;\n  font-weight: 700;\n  letter-spacing: 0;\n  line-height: 1.5;\n  overflow-wrap: anywhere;\n}\n\n.rmd-cta .rmd-cta__heading::before,\n.rmd-cta .rmd-cta__heading::after {\n  display: none;\n}\n\n.rmd-cta .rmd-cta__body {\n  max-inline-size: 48rem;\n  margin-top: 7px;\n  color: var(--rmd-gray-800);\n  font-size: 16px;\n  line-height: 1.8;\n  overflow-wrap: anywhere;\n}\n\n.rmd-cta .rmd-cta__benefits {\n  display: grid;\n  grid-template-columns: repeat(auto-fit, minmax(180px, 1fr));\n  margin-top: 11px;\n  list-style: none;\n  border-top: 1px solid var(--rmd-gray-300);\n  border-bottom: 1px solid var(--rmd-gray-300);\n}\n\n.rmd-cta .rmd-cta__benefits li {\n  display: flex;\n  min-width: 0;\n  align-items: center;\n  margin: 0;\n  padding: 9px 12px 10px;\n  color: var(--rmd-gray-800);\n}\n\n.rmd-cta .rmd-cta__benefits li + li {\n  border-left: 1px solid var(--rmd-gray-300);\n}\n\n.rmd-cta .rmd-cta__benefits strong {\n  font-size: 15px;\n  font-weight: 700;\n  line-height: 1.55;\n  overflow-wrap: anywhere;\n}\n\n.rmd-cta .rmd-cta__action {\n  display: flex;\n  align-items: center;\n  justify-content: space-between;\n  gap: 22px;\n  margin-top: 12px;\n}\n\n.rmd-cta .rmd-cta__meta {\n  display: flex;\n  min-width: 0;\n  flex-direction: column;\n  color: var(--rmd-gray-600);\n  line-height: 1.5;\n  text-align: left;\n}\n\n.rmd-cta .rmd-cta__meta strong {\n  color: #6e6332;\n  font-size: 11px;\n  font-weight: 700;\n}\n\n.rmd-cta .rmd-cta__meta span {\n  margin-top: 2px;\n  font-size: 12px;\n}\n\n.rmd-cta .rmd-cta__button {\n  display: flex;\n  min-height: 42px;\n  flex: 0 0 auto;\n  align-items: center;\n  justify-content: center;\n  gap: 10px;\n  padding: 8px 16px;\n  color: var(--rmd-black);\n  font-size: 14px;\n  font-weight: 700;\n  line-height: 1.55;\n  text-align: center;\n  text-decoration: none;\n  background: var(--rmd-gold-light);\n  border: 1px solid #81742f;\n  border-radius: 2px;\n  transition: background-color 140ms ease, border-color 140ms ease;\n}\n\n.rmd-cta .rmd-cta__button:visited {\n  color: var(--rmd-black);\n}\n\n.rmd-cta .rmd-cta__button:focus-visible {\n  outline: 3px solid var(--rmd-black);\n  outline-offset: 3px;\n}\n\n.rmd-cta .rmd-cta__arrow {\n  flex: 0 0 auto;\n  font-size: 18px;\n  font-weight: 500;\n  line-height: 1;\n  transition: transform 140ms ease;\n}\n\n\/* A2.1: content is read vertically, then the eye moves once to the action rail. *\/\n.rmd-cta--decision_rail .rmd-cta__decision {\n  display: grid;\n  grid-template-columns: minmax(0, 3fr) minmax(16rem, 2fr);\n  align-items: end;\n  gap: clamp(22px, 4cqi, 42px);\n  margin-top: 12px;\n  padding-top: 12px;\n  border-top: 1px solid var(--rmd-gray-300);\n}\n\n.rmd-cta--decision_rail .rmd-cta__benefits {\n  display: grid;\n  grid-template-columns: 1fr;\n  align-self: stretch;\n  margin-top: 0;\n  border-top: 0;\n  border-bottom: 0;\n}\n\n.rmd-cta--decision_rail .rmd-cta__benefits li {\n  padding: 7px 0;\n}\n\n.rmd-cta--decision_rail .rmd-cta__benefits li + li {\n  border-top: 1px solid var(--rmd-gray-300);\n  border-left: 0;\n}\n\n.rmd-cta--decision_rail .rmd-cta__benefits strong {\n  font-size: 16px;\n}\n\n.rmd-cta--decision_rail .rmd-cta__action {\n  display: grid;\n  align-self: end;\n  gap: 8px;\n  margin-top: 0;\n}\n\n.rmd-cta--decision_rail .rmd-cta__meta {\n  gap: 2px;\n}\n\n.rmd-cta--decision_rail .rmd-cta__meta strong {\n  font-size: 12px;\n}\n\n.rmd-cta--decision_rail .rmd-cta__meta span {\n  margin-top: 0;\n  font-size: 13px;\n}\n\n.rmd-cta--decision_rail .rmd-cta__button {\n  width: 100%;\n  min-height: 52px;\n  justify-content: space-between;\n  padding: 10px 16px;\n  font-size: 16px;\n  text-align: left;\n}\n\n\/* E: one proposition, one reassurance line, one full-width action. *\/\n.rmd-cta--direct_offer {\n  margin: 30px 0;\n}\n\n.rmd-cta--direct_offer .rmd-cta__frame {\n  padding: 22px;\n  background: #fff;\n  border: 1px solid #cbc9c2;\n  border-radius: 2px;\n}\n\n.rmd-cta--direct_offer .rmd-cta__frame::before,\n.rmd-cta--direct_offer .rmd-cta__eyebrow,\n.rmd-cta--direct_offer .rmd-cta__body,\n.rmd-cta--direct_offer .rmd-cta__benefits {\n  display: none;\n}\n\n.rmd-cta--direct_offer .rmd-cta__heading {\n  margin-top: 0;\n  font-size: 21px;\n  letter-spacing: -0.01em;\n  line-height: 1.5;\n}\n\n.rmd-cta--direct_offer .rmd-cta__decision {\n  display: block;\n  margin-top: 0;\n  padding-top: 0;\n  border: 0;\n}\n\n.rmd-cta--direct_offer .rmd-cta__action {\n  display: grid;\n  align-items: stretch;\n  justify-content: stretch;\n  gap: 12px;\n  margin-top: 9px;\n}\n\n.rmd-cta--direct_offer .rmd-cta__meta {\n  display: block;\n  color: #5e5a50;\n  font-size: 14px;\n  font-weight: 400;\n  line-height: 1.65;\n}\n\n.rmd-cta--direct_offer .rmd-cta__meta strong,\n.rmd-cta--direct_offer .rmd-cta__meta span {\n  margin: 0;\n  color: inherit;\n  font-size: inherit;\n  font-weight: 400;\n}\n\n.rmd-cta--direct_offer .rmd-cta__meta strong::after {\n  margin: 0;\n  color: inherit;\n  content: \"\u3002\";\n}\n\n.rmd-cta--direct_offer .rmd-cta__button {\n  width: 100%;\n  min-height: 52px;\n  justify-content: space-between;\n  padding: 10px 16px;\n  font-size: 16px;\n  text-align: left;\n}\n\n@media (hover: hover) {\n  .rmd-cta .rmd-cta__button:hover {\n    color: var(--rmd-black);\n    text-decoration: none;\n    background: #f0df89;\n    border-color: var(--rmd-gold);\n  }\n\n  .rmd-cta .rmd-cta__button:hover .rmd-cta__arrow {\n    transform: translateX(3px);\n  }\n}\n\n@media (max-width: 760px) {\n  .rmd-cta {\n    margin: 28px 0;\n  }\n\n  .rmd-cta .rmd-cta__frame {\n    padding: 14px 13px 15px;\n  }\n\n  .rmd-cta .rmd-cta__eyebrow {\n    font-size: 11px;\n  }\n\n  .rmd-cta .rmd-cta__heading {\n    font-size: 19px;\n    line-height: 1.5;\n  }\n\n  .rmd-cta .rmd-cta__body {\n    margin-top: 6px;\n    font-size: 15px;\n    line-height: 1.75;\n  }\n\n  .rmd-cta .rmd-cta__benefits {\n    display: block;\n    margin-top: 9px;\n  }\n\n  .rmd-cta .rmd-cta__benefits li {\n    padding: 7px 4px;\n  }\n\n  .rmd-cta .rmd-cta__benefits li + li {\n    border-top: 1px solid var(--rmd-gray-300);\n    border-left: 0;\n  }\n\n  .rmd-cta .rmd-cta__action {\n    display: block;\n    margin-top: 9px;\n  }\n\n  .rmd-cta .rmd-cta__meta {\n    flex-direction: row;\n    gap: 7px;\n    margin-bottom: 6px;\n  }\n\n  .rmd-cta .rmd-cta__meta strong::after {\n    margin-left: 7px;\n    color: #b5afa1;\n    content: \"\uff0f\";\n  }\n\n  .rmd-cta .rmd-cta__meta span {\n    margin-top: 0;\n  }\n\n  .rmd-cta .rmd-cta__button {\n    width: 100%;\n    min-height: 43px;\n  }\n\n  .rmd-cta--decision_rail .rmd-cta__decision {\n    grid-template-columns: 1fr;\n    gap: 14px;\n    margin-top: 10px;\n    padding-top: 10px;\n  }\n\n  .rmd-cta--decision_rail .rmd-cta__action {\n    display: grid;\n    gap: 7px;\n  }\n\n  .rmd-cta--decision_rail .rmd-cta__meta {\n    flex-direction: column;\n    gap: 1px;\n    margin-bottom: 0;\n  }\n\n  .rmd-cta--decision_rail .rmd-cta__meta strong::after {\n    content: none;\n  }\n\n  .rmd-cta--decision_rail .rmd-cta__button {\n    min-height: 52px;\n    font-size: 16px;\n  }\n\n  .rmd-cta--direct_offer {\n    margin: 28px 0;\n  }\n\n  .rmd-cta--direct_offer .rmd-cta__frame {\n    padding: 18px 17px 19px;\n  }\n\n  .rmd-cta--direct_offer .rmd-cta__heading {\n    font-size: 19px;\n    line-height: 1.5;\n  }\n\n  .rmd-cta--direct_offer .rmd-cta__eyebrow,\n  .rmd-cta--direct_offer .rmd-cta__body,\n  .rmd-cta--direct_offer .rmd-cta__benefits {\n    display: none;\n  }\n\n  .rmd-cta--direct_offer .rmd-cta__action {\n    display: grid;\n    align-items: stretch;\n    justify-content: stretch;\n    gap: 12px;\n    margin-top: 9px;\n  }\n\n  .rmd-cta--direct_offer .rmd-cta__meta {\n    margin-bottom: 0;\n  }\n\n  .rmd-cta--direct_offer .rmd-cta__meta strong::after {\n    margin: 0;\n    color: inherit;\n    content: \"\u3002\";\n  }\n\n  .rmd-cta--direct_offer .rmd-cta__button {\n    min-height: 52px;\n    font-size: 15px;\n  }\n}\n\n@container rmd-cta (max-width: 672px) {\n  .rmd-cta--decision_rail .rmd-cta__decision {\n    grid-template-columns: 1fr;\n    gap: 14px;\n  }\n\n  .rmd-cta--decision_rail .rmd-cta__action {\n    display: grid;\n    gap: 7px;\n  }\n\n  .rmd-cta--decision_rail .rmd-cta__meta {\n    flex-direction: column;\n    gap: 1px;\n    margin-bottom: 0;\n  }\n\n  .rmd-cta--decision_rail .rmd-cta__meta strong::after {\n    content: none;\n  }\n\n  .rmd-cta--decision_rail .rmd-cta__button {\n    min-height: 52px;\n    font-size: 16px;\n  }\n}\n\n\/*\n * inline_button: plugin-owned reproduction of the legacy SWELL button\n * (.swell-block-button.blue_.is-style-btn_normal as rendered on remedy-tokyo.co.jp\/media).\n * It does not depend on SWELL classes or CSS variables being present.\n *\/\n.rmd-cta.rmd-cta--inline_button {\n  margin: 32px 0;\n  color: #333;\n  line-height: 1.6;\n  text-align: center;\n}\n\n.rmd-cta--inline_button .rmd-cta__lead,\n.rmd-cta--inline_button .rmd-cta__note {\n  margin: 0;\n  padding: 0;\n  text-align: center;\n  overflow-wrap: anywhere;\n  word-break: normal;\n  word-break: auto-phrase;\n  text-wrap: balance;\n}\n\n.rmd-cta--inline_button .rmd-cta__lead {\n  margin-bottom: 10px;\n  color: #333;\n  font-size: 15px;\n  font-weight: 700;\n  line-height: 1.6;\n}\n\n.rmd-cta--inline_button .rmd-cta__note {\n  margin-top: 8px;\n  color: #555;\n  font-size: 13px;\n  font-weight: 500;\n  line-height: 1.6;\n}\n\n.rmd-cta--inline_button .rmd-cta__button {\n  display: flex;\n  box-sizing: border-box;\n  width: 100%;\n  max-width: 100%;\n  min-height: 56px;\n  margin: 0 auto;\n  align-items: center;\n  justify-content: center;\n  gap: 0.5em;\n  padding: 0.75em 1.5em;\n  color: #000;\n  font-size: 16px;\n  font-weight: 500;\n  letter-spacing: 1px;\n  line-height: 1.5;\n  text-align: center;\n  text-decoration: none;\n  background: #e5d480;\n  border: 2px solid #cbbb6c;\n  border-radius: 0.333em;\n  transition: border-color 140ms ease;\n}\n\n.rmd-cta--inline_button .rmd-cta__button:visited {\n  color: #000;\n}\n\n.rmd-cta--inline_button .rmd-cta__icon {\n  display: block;\n  flex: 0 0 auto;\n  width: 1.1em;\n  height: 1.1em;\n  margin-left: -0.25em;\n  fill: currentColor;\n}\n\n.rmd-cta--inline_button .rmd-cta__label {\n  min-width: 0;\n  overflow-wrap: anywhere;\n  word-break: normal;\n  word-break: auto-phrase;\n  text-wrap: balance;\n}\n\n.rmd-cta--inline_button .rmd-cta__button:focus-visible {\n  outline: 3px solid #000;\n  outline-offset: 3px;\n  border-color: #000;\n}\n\n@container rmd-cta (min-width: 600px) {\n  .rmd-cta--inline_button .rmd-cta__button {\n    width: fit-content;\n    min-width: 64%;\n  }\n}\n\n@media (hover: hover) {\n  .rmd-cta--inline_button .rmd-cta__button:hover {\n    color: #000;\n    background: #e5d480;\n    border-color: #000;\n  }\n}\n\n@media (prefers-reduced-motion: reduce) {\n  .rmd-cta .rmd-cta__frame::before {\n    transform: none;\n  }\n\n  .rmd-cta .rmd-cta__frame::before,\n  .rmd-cta .rmd-cta__button,\n  .rmd-cta .rmd-cta__arrow {\n    transition: none;\n  }\n\n  .rmd-cta--inline_button .rmd-cta__button {\n    transition: none;\n  }\n}\n<\/style><aside class=\"rmd-cta rmd-cta--inline_button\" aria-label=\"\u30ea\u30e1\u30c7\u30a3\u306e\u30cf\u30a4\u30af\u30e9\u30b9\u8ee2\u8077\u652f\u63f4\u306b\u76f8\u8ac7\u3059\u308b\" data-cta-id=\"article_selection_consult_v2\" data-cta-variant=\"contextual\" data-cta-pattern=\"contextual\" data-copy-id=\"re_fund_dcf_interview_format_s1_early_v2\" data-copy-revision=\"1\" data-copy-hash=\"a6274b58d6daca4e4f208867a0905590781a940f896de9d040d85801f4858855\" data-copy-identity=\"ci1_e3b40aed778043367969c2a90b4f8d711a7e56e0d97d960d7f6d9171b1f72efd\" data-copy-source=\"shortcode\" data-cta-layout=\"inline_button\" data-cta-position=\"s1_early\" data-cta-intent=\"selection\" data-cta-service=\"highclass_career\" data-cta-audience=\"consultant\" data-cta-campaign=\"highclass_career\" data-experiment-id=\"new_article_cta_slots_20260914\" data-destination-id=\"remedy-search_com_highclass-career\" data-pid=\"16608\">\n  <p class=\"rmd-cta__lead\">\u52df\u96c6\u8981\u9805\u304b\u3089\u9078\u8003\u306e\u5f62\u5f0f\u304c\u8aad\u307f\u5207\u308c\u306a\u3044\u65b9\u3078\u3001DCF\u9762\u63a5\u3067\u512a\u5148\u3057\u305f\u3044\u6e96\u5099\u3092\u6574\u7406\u3057\u307e\u3059<\/p><a class=\"rmd-cta__button rmd-cta__inline-link\" href=\"https:\/\/remedy-search.com\/highclass-career?utm_source=organic&#038;utm_medium=seo&#038;utm_campaign=highclass_career&#038;utm_content=aid16608__s1_early&#038;utm_term=selection__re_fund_dcf_interview_format_s1_early_v2&#038;entry_article_id=16608&#038;rm_cta_id=article_selection_consult_v2&#038;rm_cta_type=highclass_career&#038;rm_service=highclass_career&#038;rm_audience=consultant&#038;rm_pos=s1_early&#038;rm_slot=s1_early&#038;rm_variant=contextual&#038;rm_pattern=contextual&#038;rm_copy_id=re_fund_dcf_interview_format_s1_early_v2&#038;rm_copy_revision=1&#038;rm_copy_hash=a6274b58d6daca4e4f208867a0905590781a940f896de9d040d85801f4858855&#038;rm_copy_identity=ci1_e3b40aed778043367969c2a90b4f8d711a7e56e0d97d960d7f6d9171b1f72efd&#038;rm_layout=inline_button&#038;rm_intent=selection&#038;rm_experiment=new_article_cta_slots_20260914&#038;rm_campaign=highclass_career&#038;rm_destination=remedy-search_com_highclass-career\" rel=\"nofollow\"><svg class=\"rmd-cta__icon\" width=\"20\" height=\"20\" viewBox=\"0 0 48 48\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M19 2.3C9.1 2.3 1 9.7 1 18.7c0 3.5 1.2 6.7 3.3 9.4l-1.5 6.3c-.2.8.6 1.5 1.4 1.1l6-2.6c2.6 1.3 5.6 2.1 8.8 2.1 9.9 0 18-7.3 18-16.4 0-8.9-8.1-16.3-18-16.3z\"><\/path><path d=\"M43.7 38.1c2.1-2.7 3.3-5.9 3.3-9.4 0-9-8.1-16.4-18-16.4s-18 7.3-18 16.4c0 9 8.1 16.4 18 16.4 3.2 0 6.2-.8 8.8-2.1l6 2.6c.8.3 1.6-.3 1.4-1.1l-1.5-6.4zM15 28.7c0-6.8 6.3-12.4 14-12.4s14 5.5 14 12.4-6.3 12.4-14 12.4-14-5.6-14-12.4z\"><\/path><\/svg><span class=\"rmd-cta__label\">DCF\u9762\u63a5\u306e\u7df4\u7fd2\u9806\u3092<br class=\"rmd-cta__br\">\u76f8\u8ac7\u3057\u3066\u307f\u308b<\/span><\/a><p class=\"rmd-cta__note\">\u5fd7\u671b\u4f01\u696d\u304c\u6c7a\u307e\u308b\u524d\u3067\u3082\u3001\u7121\u6599\u30fb\u30aa\u30f3\u30e9\u30a4\u30f3\u3067\u76f8\u8ac7\u3067\u304d\u307e\u3059<\/p>\n<\/aside>\n<script>(function () {\n  var states = [];\n  var scrollQueued = false;\n\n  function emit(name, params) {\n    if (typeof name !== \"string\" || !name) {\n      return false;\n    }\n    if (typeof window.gtag === \"function\") {\n      window.gtag(\"event\", name, params || {});\n      return true;\n    }\n    return false;\n  }\n\n  function copyParams(source) {\n    var target = {};\n    Object.keys(source).forEach(function (key) {\n      target[key] = source[key];\n    });\n    return target;\n  }\n\n  function copyIdentity(el) {\n    var identity = el.dataset.copyIdentity || \"\";\n    return \/^ci1_[a-f0-9]{64}$\/.test(identity) ? identity : \"\";\n  }\n\n  function currentMediaPostId() {\n    if (!window.location) {\n      return \"\";\n    }\n    var match = \/^\\\/media\\\/([1-9]\\d*)\\\/?$\/.exec(window.location.pathname || \"\");\n    return match ? match[1] : \"\";\n  }\n\n  function normalizeArticleIdentity(el) {\n    var postId = currentMediaPostId();\n    if (!postId || !el.dataset) {\n      return;\n    }\n    el.dataset.pid = postId;\n\n    var button = el.querySelector(\".rmd-cta__button\");\n    var href = \"\";\n    if (button) {\n      if (typeof button.getAttribute === \"function\") {\n        href = button.getAttribute(\"href\");\n      }\n    }\n    if (!button || !href || !window.location) {\n      return;\n    }\n    var url;\n    try {\n      url = new URL(href, window.location.href);\n    } catch (_error) {\n      return;\n    }\n    var position = el.dataset.ctaPosition || \"inline\";\n    url.searchParams.set(\"entry_article_id\", postId);\n    url.searchParams.set(\"utm_content\", \"aid\" + postId + \"__\" + position);\n    button.setAttribute(\"href\", url.toString());\n  }\n\n  function paramsFor(el) {\n    var identity = copyIdentity(el);\n    var p = {\n      cta_id: el.dataset.ctaId,\n      cta_variant: el.dataset.ctaVariant,\n      copy_pattern: el.dataset.ctaPattern,\n      copy_id: el.dataset.copyId,\n      copy_revision: el.dataset.copyRevision,\n      copy_hash: el.dataset.copyHash,\n      copy_source: el.dataset.copySource,\n      cta_layout: el.dataset.ctaLayout,\n      cta_position: el.dataset.ctaPosition,\n      cta_intent: el.dataset.ctaIntent,\n      cta_service: el.dataset.ctaService,\n      cta_audience: el.dataset.ctaAudience,\n      cta_campaign: el.dataset.ctaCampaign,\n      rm_campaign: el.dataset.ctaCampaign,\n      experiment_id: el.dataset.experimentId,\n      destination_id: el.dataset.destinationId,\n      copy_identity_available: identity ? 1 : 0\n    };\n    if (identity) {\n      p.copy_identity = identity;\n    }\n    if (el.dataset.pid) {\n      p.post_id = el.dataset.pid;\n      p.entry_article_id = el.dataset.pid;\n    }\n    return p;\n  }\n\n  function articleRootFor(el) {\n    var node = el.parentElement;\n    while (node) {\n      if (typeof node.matches === \"function\") {\n        if (node.matches(\".post_content,.entry-content,.entry__content,article\")) {\n          return node;\n        }\n      }\n      node = node.parentElement;\n    }\n    return null;\n  }\n\n  function isInsideCta(candidate) {\n    var node = candidate.parentElement;\n    while (node) {\n      if (node.classList) {\n        if (node.classList.contains(\"rmd-cta\")) {\n          return true;\n        }\n      }\n      node = node.parentElement;\n    }\n    return false;\n  }\n\n  function nextOutsideCta(root, el, selector) {\n    var seen = false;\n    var found = null;\n    root.querySelectorAll(selector).forEach(function (candidate) {\n      if (found) {\n        return;\n      }\n      if (candidate === el) {\n        seen = true;\n        return;\n      }\n      if (!seen) {\n        return;\n      }\n      if (el.contains(candidate)) {\n        return;\n      }\n      if (isInsideCta(candidate)) {\n        return;\n      }\n      if (candidate.classList.contains(\"rmd-cta\")) {\n        return;\n      }\n      found = candidate;\n    });\n    return found;\n  }\n\n  function nextHeadingIndex(root, heading) {\n    var index = 0;\n    var result = 0;\n    root.querySelectorAll(\"h2,h3\").forEach(function (candidate) {\n      if (isInsideCta(candidate)) {\n        return;\n      }\n      index += 1;\n      if (candidate === heading) {\n        result = index;\n      }\n    });\n    return result;\n  }\n\n  function viewportHeight() {\n    return window.innerHeight || document.documentElement.clientHeight || 0;\n  }\n\n  function scrollTop() {\n    return window.scrollY || window.pageYOffset || 0;\n  }\n\n  function isReached(node, viewportFraction) {\n    if (!node) {\n      return false;\n    }\n    var rect = node.getBoundingClientRect();\n    if (0 > rect.bottom) {\n      return false;\n    }\n    if (rect.top > viewportHeight() * viewportFraction) {\n      return false;\n    }\n    return true;\n  }\n\n  function articleProgress(root) {\n    var rect = root.getBoundingClientRect();\n    var top = scrollTop() + rect.top;\n    var height = rect.height || rect.bottom - rect.top;\n    if (0 >= height) {\n      return 0;\n    }\n    var progress = ((scrollTop() + viewportHeight() - top) \/ height) * 100;\n    if (0 > progress) {\n      return 0;\n    }\n    if (progress > 100) {\n      return 100;\n    }\n    return progress;\n  }\n\n  function emitGuardrail(state, type, value, quality, extra) {\n    \/\/ Guardrail events use only the seven immutable export identities. Keeping\n    \/\/ the funnel payload separate prevents GA4's 25 event-parameter ceiling\n    \/\/ from silently dropping identity fields.\n    var p = {};\n    [\"post_id\", \"cta_id\", \"cta_variant\", \"cta_position\", \"cta_layout\", \"experiment_id\", \"copy_identity\"].forEach(function (key) {\n      if (state.params[key]) {\n        p[key] = state.params[key];\n      }\n    });\n    p.guardrail_type = type;\n    p.guardrail_value = value;\n    p.measurement_quality = quality;\n    if (extra) {\n      Object.keys(extra).forEach(function (key) {\n        p[key] = extra[key];\n      });\n    }\n    var typeCodes = {\n      content_continue: \"cc\",\n      next_section_reach: \"ns\",\n      scroll_depth: \"sd\",\n      post_cta_exit_signal: \"px\",\n      mobile_occupancy: \"mo\"\n    };\n    var qualityCode = quality === \"best_effort\" ? \"b\" : \"o\";\n    var typeCode = typeCodes[type];\n    if (!typeCode || !\/^\\d{1,3}$\/.test(String(value))) {\n      return;\n    }\n    \/\/ GA4 counts filter-only dimensions toward the nine-dimension ceiling.\n    \/\/ Encode guardrail metadata into one eventName so the export needs only\n    \/\/ date + seven CTA identity dimensions + eventName.\n    emit(\"cta_rd_\" + typeCode + \"_\" + value + \"_\" + qualityCode + \"_v1_a1\", p);\n  }\n\n  function mobileOccupancy(state) {\n    state.params.mobile_occupancy_available = 0;\n    if (typeof window.matchMedia !== \"function\") {\n      return null;\n    }\n    if (!window.matchMedia(\"(max-width: 767px)\").matches) {\n      return null;\n    }\n    var height = viewportHeight();\n    if (0 >= height) {\n      return null;\n    }\n    var rect = state.el.getBoundingClientRect();\n    var componentHeight = rect.height || rect.bottom - rect.top;\n    if (0 >= componentHeight) {\n      return null;\n    }\n    var occupancy = Math.round((componentHeight \/ height) * 100);\n    if (0 > occupancy) {\n      occupancy = 0;\n    }\n    if (occupancy > 100) {\n      occupancy = 100;\n    }\n    state.params.mobile_occupancy_available = 1;\n    return occupancy;\n  }\n\n  function evaluateState(state) {\n    if (!state.impressed) {\n      return;\n    }\n\n    var movedAfterImpression = scrollTop() - state.impressionScrollY >= 32;\n    if (!state.continued) {\n      if (state.nextContent) {\n        if (movedAfterImpression) {\n          if (isReached(state.nextContent, 0.85)) {\n            state.continued = true;\n            emitGuardrail(state, \"content_continue\", 1, \"observed\", {\n              continuation_method: \"next_content_reached\"\n            });\n          }\n        }\n      }\n    }\n\n    if (!state.nextSectionReached) {\n      if (state.nextHeading) {\n        if (isReached(state.nextHeading, 0.85)) {\n          state.nextSectionReached = true;\n          emitGuardrail(state, \"next_section_reach\", 1, \"observed\", {\n            next_section_index: state.nextHeadingIndex,\n            next_section_level: state.nextHeading.tagName.toLowerCase()\n          });\n        }\n      }\n    }\n\n    if (state.scrollAvailable) {\n      var progress = articleProgress(state.root);\n      [75, 90].forEach(function (depth) {\n        if (state.depths[depth]) {\n          return;\n        }\n        if (progress >= depth) {\n          state.depths[depth] = true;\n          emitGuardrail(state, \"scroll_depth\", depth, \"observed\", {\n            scroll_depth_percent: depth\n          });\n        }\n      });\n    }\n  }\n\n  function evaluateAll() {\n    scrollQueued = false;\n    states.forEach(evaluateState);\n  }\n\n  function queueEvaluation() {\n    if (scrollQueued) {\n      return;\n    }\n    scrollQueued = true;\n    if (typeof window.requestAnimationFrame === \"function\") {\n      window.requestAnimationFrame(evaluateAll);\n      return;\n    }\n    window.setTimeout(evaluateAll, 16);\n  }\n\n  function scheduleImpression(state) {\n    var el = state.el;\n    if (el.dataset.rmdImpressed) {\n      return;\n    }\n    window.clearTimeout(el.rmdImpressionTimer);\n    el.rmdImpressionTimer = window.setTimeout(function () {\n      if (el.dataset.rmdImpressed) {\n        return;\n      }\n      confirmImpression(state);\n    }, 1000);\n  }\n\n  function confirmImpression(state) {\n    var el = state.el;\n    if (el.dataset.rmdImpressed) {\n      return;\n    }\n    window.clearTimeout(el.rmdImpressionTimer);\n    el.dataset.rmdImpressed = \"1\";\n    state.impressed = true;\n    state.impressionScrollY = scrollTop();\n    var occupancy = mobileOccupancy(state);\n    emit(\"cta_impression\", state.params);\n    if (occupancy !== null) {\n      emitGuardrail(state, \"mobile_occupancy\", occupancy, \"observed\");\n    }\n    evaluateState(state);\n  }\n\n  function cancelImpression(el) {\n    window.clearTimeout(el.rmdImpressionTimer);\n  }\n\n  function initState(el) {\n    normalizeArticleIdentity(el);\n    var detectedRoot = articleRootFor(el);\n    var root = detectedRoot || document.body;\n    var nextContent = detectedRoot\n      ? nextOutsideCta(root, el, \".rmd-cta,h2,h3,p,ul,ol,table,blockquote\")\n      : null;\n    var nextHeading = detectedRoot\n      ? nextOutsideCta(root, el, \".rmd-cta,h2,h3\")\n      : null;\n    var p = paramsFor(el);\n    p.content_continuation_available = nextContent ? 1 : 0;\n    p.next_section_available = nextHeading ? 1 : 0;\n    p.scroll_guardrail_available = detectedRoot ? 1 : 0;\n    p.post_cta_exit_available = nextContent ? 1 : 0;\n    p.mobile_occupancy_available = 0;\n    return {\n      el: el,\n      root: root,\n      params: p,\n      nextContent: nextContent,\n      nextHeading: nextHeading,\n      nextHeadingIndex: nextHeadingIndex(root, nextHeading),\n      scrollAvailable: Boolean(detectedRoot),\n      impressed: false,\n      clicked: false,\n      continued: false,\n      nextSectionReached: false,\n      exitSignaled: false,\n      impressionScrollY: 0,\n      depths: {}\n    };\n  }\n\n  function init() {\n    var nodes = document.querySelectorAll(\".rmd-cta\");\n    nodes.forEach(function (el) {\n      if (el.dataset.rmdInit) {\n        return;\n      }\n      el.dataset.rmdInit = \"1\";\n      var state = initState(el);\n      states.push(state);\n      if (\"IntersectionObserver\" in window) {\n        var io = new IntersectionObserver(function (entries) {\n          entries.forEach(function (entry) {\n            if (entry.isIntersecting) {\n              el.classList.add(\"rmd-cta--visible\");\n              if (entry.intersectionRatio >= 0.5) {\n                scheduleImpression(state);\n                return;\n              }\n            }\n            cancelImpression(el);\n          });\n        }, { threshold: [0, 0.5, 1] });\n        io.observe(el);\n      } else {\n        el.classList.add(\"rmd-cta--visible\");\n        scheduleImpression(state);\n      }\n      var button = el.querySelector(\".rmd-cta__button\");\n      if (button) {\n        button.addEventListener(\"click\", function () {\n          \/\/ A click is definitive proof of exposure. Emit its impression first\n          \/\/ when the one-second visibility timer has not fired yet.\n          confirmImpression(state);\n          state.clicked = true;\n          emit(\"cta_click\", state.params);\n        });\n      }\n    });\n\n    window.addEventListener(\"scroll\", queueEvaluation, { passive: true });\n    window.addEventListener(\"resize\", queueEvaluation);\n    window.addEventListener(\"pagehide\", function () {\n      states.forEach(function (state) {\n        if (!state.impressed) {\n          return;\n        }\n        if (state.clicked) {\n          return;\n        }\n        if (state.continued) {\n          return;\n        }\n        if (state.nextSectionReached) {\n          return;\n        }\n        if (!state.nextContent) {\n          return;\n        }\n        if (state.exitSignaled) {\n          return;\n        }\n        state.exitSignaled = true;\n        emitGuardrail(state, \"post_cta_exit_signal\", 1, \"best_effort\", {\n          exit_signal: \"pagehide_before_continue\",\n          transport_type: \"beacon\"\n        });\n      });\n    });\n  }\n\n  if (document.readyState === \"loading\") {\n    document.addEventListener(\"DOMContentLoaded\", init);\n  } else {\n    init();\n  }\n})();\n<\/script>\n\n\n\n<h2 class=\"wp-block-heading\">NOI\u304b\u3089NCF\u3001\u4fa1\u683c\u307e\u3067\u3092\u4e00\u3064\u306e\u6570\u5024\u4f8b\u3067\u8aac\u660e\u3059\u308b<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">NCF\u306f\u3001NOI\u306b\u4e00\u6642\u91d1\u306e\u904b\u7528\u76ca\u3092\u8db3\u3057\u3001<b><span class=\"swl-marker mark_yellow\">\u8cc7\u672c\u7684\u652f\u51fa\u3092\u5f15\u3044\u305f\u91d1\u984d<\/span><\/b>\u3067\u3059\u3002\u56fd\u571f\u4ea4\u901a\u7701\u306e\u4e0d\u52d5\u7523\u9451\u5b9a\u8a55\u4fa1\u57fa\u6e96\u306f\u3001\u8a3c\u5238\u5316\u5bfe\u8c61\u4e0d\u52d5\u7523\u306eDCF\u6cd5\u3067\u4f7f\u3046\u9805\u76ee\u3068\u3057\u3066\u3001\u3053\u306e\u9806\u756a\u3068\u5b9a\u7fa9\u3092\u5b9a\u3081\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u9805\u76ee\u306e\u540d\u524d\u306f\u9451\u5b9a\u8a55\u4fa1\u57fa\u6e96\u306e\u5b9a\u7fa9\u306b\u305d\u308d\u3048\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">NOI\u30fbNCF\u3068\u3044\u3046\u7565\u79f0\u3067\u8a71\u3059\u3068\u304d\u3082\u3001\u4e2d\u8eab\u3092\u57fa\u6e96\u306e\u9805\u76ee\u540d\u3067\u8aac\u660e\u3067\u304d\u308c\u3070\u3001\u76f8\u624b\u3068\u5b9a\u7fa9\u304c\u305a\u308c\u307e\u305b\u3093\u3002\u4e0d\u52d5\u7523\u8a3c\u5238\u5316\u5354\u4f1a\uff08ARES\uff09\u306e\u7528\u8a9e\u96c6\u3082\u3001NOI\u306b\u6577\u91d1\u7b49\u306e\u904b\u7528\u76ca\u3092\u52a0\u3048\u3001CAPEX\uff08\u8cc7\u672c\u7684\u652f\u51fa\uff09\u3092\u5dee\u3057\u5f15\u3044\u305f\u3082\u306e\u3092NCF\u3068\u8aac\u660e\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n<div class=\"c-scrollHint sp_\"><span>\u30b9\u30af\u30ed\u30fc\u30eb\u3067\u304d\u307e\u3059 <i class=\"icon-more_arrow\"><\/i><\/span><\/div>\n<figure data-table-scrollable=\"sp\" class=\"wp-block-table min_width20_\">\n<table style=\"--table-width:760px;\">\n<thead><tr><th>\u672c\u6587\u3067\u306e\u547c\u3073\u65b9<\/th><th>\u9451\u5b9a\u8a55\u4fa1\u57fa\u6e96\u306e\u9805\u76ee\u540d<\/th><th>\u5b9a\u7fa9<\/th><\/tr><\/thead>\n<tbody>\n<tr><td>NOI<\/td><td>\u904b\u55b6\u7d14\u53ce\u76ca<\/td><td>\u904b\u55b6\u53ce\u76ca\u304b\u3089\u904b\u55b6\u8cbb\u7528\u3092\u63a7\u9664\u3057\u3066\u5f97\u305f\u984d<\/td><\/tr>\n<tr><td>NOI\u306b\u52a0\u3048\u308b\u9805\u76ee<\/td><td>\u4e00\u6642\u91d1\u306e\u904b\u7528\u76ca<\/td><td>\u9810\u308a\u91d1\u7684\u6027\u683c\u3092\u6709\u3059\u308b\u4fdd\u8a3c\u91d1\u7b49\u306e\u904b\u7528\u76ca<\/td><\/tr>\n<tr><td>CAPEX<\/td><td>\u8cc7\u672c\u7684\u652f\u51fa<\/td><td>\u5efa\u7269\u30fb\u8a2d\u5099\u7b49\u306e\u4fee\u7406\u3001\u6539\u826f\u7b49\u306e\u652f\u51fa\u306e\u3046\u3061\u3001\u4fa1\u5024\u3092\u9ad8\u3081\u3001\u53c8\u306f\u8010\u4e45\u6027\u3092\u5897\u3059\u3053\u3068\u3068\u306a\u308b\u3068\u8a8d\u3081\u3089\u308c\u308b\u90e8\u5206<\/td><\/tr>\n<tr><td>NCF<\/td><td>\u7d14\u53ce\u76ca<\/td><td>\u904b\u55b6\u7d14\u53ce\u76ca\u306b\u4e00\u6642\u91d1\u306e\u904b\u7528\u76ca\u3092\u52a0\u7b97\u3057\u8cc7\u672c\u7684\u652f\u51fa\u3092\u63a7\u9664\u3057\u305f\u984d<\/td><\/tr>\n<\/tbody>\n<\/table>\n<figcaption class=\"wp-element-caption\">\u51fa\u6240\uff1a\u56fd\u571f\u4ea4\u901a\u7701\u300c\u4e0d\u52d5\u7523\u9451\u5b9a\u8a55\u4fa1\u57fa\u6e96\u300d\u5404\u8ad6\u7b2c3\u7ae0\u7b2c5\u7bc0\u3001\u4e0d\u52d5\u7523\u8a3c\u5238\u5316\u5354\u4f1a\u300c\u4e0d\u52d5\u7523\u8a3c\u5238\u5316\u7528\u8a9e\u96c6\u300d<\/figcaption>\n<\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u8ff7\u3044\u3084\u3059\u3044\u306e\u306f\u4fee\u7e55\u8cbb\u3068\u306e\u533a\u5206\u3067\u3059\u3002\u57fa\u6e96\u3067\u306f\u3001\u901a\u5e38\u306e\u7dad\u6301\u7ba1\u7406\u3084\u539f\u72b6\u56de\u5fa9\u306e\u305f\u3081\u306b\u7d4c\u5e38\u7684\u306b\u304b\u304b\u308b\u8cbb\u7528\u3092\u904b\u55b6\u8cbb\u7528\u306e\u4fee\u7e55\u8cbb\u3068\u3057\u3001\u4fa1\u5024\u3092\u9ad8\u3081\u305f\u308a\u8010\u4e45\u6027\u3092\u5897\u3057\u305f\u308a\u3059\u308b\u90e8\u5206\u3092<b><span class=\"swl-marker mark_yellow\">\u8cc7\u672c\u7684\u652f\u51fa\u306b\u5206\u3051\u307e\u3059<\/span><\/b>\u3002NOI\u3068NCF\u306e\u5dee\u306f\u3053\u306e\u533a\u5206\u3067\u5909\u308f\u308b\u305f\u3081\u3001\u3069\u3061\u3089\u306b\u5165\u308c\u305f\u304b\u306e\u7406\u7531\u307e\u3067\u8a71\u305b\u308b\u3068\u5b89\u5fc3\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">DCF\u6cd5\u3067\u306f\u3001\u4fdd\u6709\u671f\u9593\u4e2d\u306e\u5927\u898f\u6a21\u4fee\u7e55\u8cbb\u306a\u3069\u304c\u3044\u3064\u767a\u751f\u3059\u308b\u304b\u306b\u3082\u7559\u610f\u3059\u308b\u3088\u3046\u3001\u57fa\u6e96\u306f\u6c42\u3081\u3066\u3044\u307e\u3059\u3002\u4fee\u7e55\u306e\u6642\u671f\u3092\u805e\u304b\u308c\u305f\u3089\u3001\u6bce\u671f\u306e\u7a4d\u307f\u7acb\u3066\u3068\u3057\u3066\u8a08\u4e0a\u3057\u305f\u306e\u304b\u3001\u5b9f\u969b\u306b\u652f\u51fa\u3059\u308b\u5e74\u306b\u8a08\u4e0a\u3057\u305f\u306e\u304b\u3092\u7b54\u3048\u3089\u308c\u308b\u3088\u3046\u306b\u3057\u3066\u304a\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u67b6\u7a7a\u7269\u4ef6\u3067NOI\u30fbNCF\u30fb\u4fa1\u683c\u3092\u51fa\u3059<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u984c\u6750\u306f\u3001\u6e80\u5ba4\u60f3\u5b9a\u306e\u8cc3\u6599\u7b49\u53ce\u5165\u304c\u5e747,000\u4e07\u5186\u306e\u8cc3\u8cb8\u7269\u4ef6\u3067\u3059\u3002\u524d\u63d0\u306f\u3059\u3079\u3066\u8aac\u660e\u306e\u305f\u3081\u306b\u7f6e\u3044\u305f\u6570\u5b57\u3067\u3059\u3002<\/p>\n\n\n<div class=\"c-scrollHint sp_\"><span>\u30b9\u30af\u30ed\u30fc\u30eb\u3067\u304d\u307e\u3059 <i class=\"icon-more_arrow\"><\/i><\/span><\/div>\n<figure data-table-scrollable=\"sp\" class=\"wp-block-table min_width20_\">\n<table style=\"--table-width:700px;\">\n<thead><tr><th>\u9805\u76ee<\/th><th>\u91d1\u984d\uff08\u4e07\u5186\uff09<\/th><th>\u8a08\u7b97<\/th><\/tr><\/thead>\n<tbody>\n<tr><td>\u6e80\u5ba4\u60f3\u5b9a\u306e\u8cc3\u6599\u7b49\u53ce\u5165<\/td><td>7,000<\/td><td>\u524d\u63d0<\/td><\/tr>\n<tr><td>\u7a7a\u5ba4\u7b49\u640d\u5931<\/td><td>\u2212350<\/td><td>\u6e80\u5ba4\u60f3\u5b9a\u306e5%<\/td><\/tr>\n<tr><td>\u904b\u55b6\u53ce\u76ca<\/td><td>6,650<\/td><td>7,000\u2212350<\/td><\/tr>\n<tr><td>\u904b\u55b6\u8cbb\u7528\uff08\u7dad\u6301\u7ba1\u7406\u8cbb\u3001PM\u30d5\u30a3\u30fc\u3001\u516c\u79df\u516c\u8ab2\u3001\u640d\u5bb3\u4fdd\u967a\u6599\u306a\u3069\uff09<\/td><td>\u22121,250<\/td><td>\u524d\u63d0<\/td><\/tr>\n<tr><td>NOI\uff08\u904b\u55b6\u7d14\u53ce\u76ca\uff09<\/td><td>5,400<\/td><td>6,650\u22121,250<\/td><\/tr>\n<tr><td>\u4e00\u6642\u91d1\u306e\u904b\u7528\u76ca<\/td><td>\uff0b20<\/td><td>\u524d\u63d0<\/td><\/tr>\n<tr><td>\u8cc7\u672c\u7684\u652f\u51fa<\/td><td>\u2212420<\/td><td>\u524d\u63d0<\/td><\/tr>\n<tr><td>NCF\uff08\u7d14\u53ce\u76ca\uff09<\/td><td>5,000<\/td><td>5,400\uff0b20\u2212420<\/td><\/tr>\n<tr><td>\u9084\u5143\u5229\u56de\u308a<\/td><td>5.0%<\/td><td>\u524d\u63d0<\/td><\/tr>\n<tr><td>\u76f4\u63a5\u9084\u5143\u6cd5\u306e\u4fa1\u683c<\/td><td>100,000\uff0810\u5104\u5186\uff09<\/td><td>5,000\u00f75.0%<\/td><\/tr>\n<\/tbody>\n<\/table>\n<figcaption class=\"wp-element-caption\">\u51fa\u6240\uff1a\u5f0a\u793e\u4f5c\u6210\uff08\u67b6\u7a7a\u306e\u6570\u5024\u4f8b\uff09\u3002\u9805\u76ee\u540d\u306f\u56fd\u571f\u4ea4\u901a\u7701\u300c\u4e0d\u52d5\u7523\u9451\u5b9a\u8a55\u4fa1\u57fa\u6e96\u300d\u306b\u3088\u308b<\/figcaption>\n<\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u53e3\u982d\u3067\u8aac\u660e\u3059\u308b\u3068\u304d\u306f\u3001\u8868\u3092\u4e0a\u304b\u3089\u8aad\u307f\u4e0a\u3052\u308b\u3088\u308a\u3001<b><span class=\"swl-marker mark_yellow\">\u4fa1\u683c\u3092\u52d5\u304b\u3059\u524d\u63d0\u3092\u5148\u306b\u8a00\u3046<\/span><\/b>\u307b\u3046\u304c\u4f1d\u308f\u308a\u307e\u3059\u3002\u7a7a\u5ba4\u306e\u5272\u5408\u3092\u542b\u3081\u3001\u8868\u3067\u524d\u63d0\u3068\u66f8\u3044\u305f\u6570\u5b57\u306f\u81ea\u5206\u3067\u7f6e\u3044\u305f\u3082\u306e\u3067\u3001\u6b8b\u308a\u306e\u884c\u306f\u305d\u306e\u8a08\u7b97\u7d50\u679c\u3067\u3059\u3002\u9762\u63a5\u3067\u5148\u306b\u8a71\u3057\u305f\u3044\u306e\u306f\u3001\u524d\u63d0\u306e\u6570\u5b57\u3092\u3069\u306e\u8cc7\u6599\u304b\u3089\u7f6e\u3044\u305f\u304b\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">NOI\u3092\u540c\u3058\u5229\u56de\u308a\u3067\u5272\u308b\u3068\u4fa1\u683c\u304c8,000\u4e07\u5186\u305a\u308c\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">NOI\u306e5,400\u4e07\u5186\u3092\u540c\u30585.0%\u3067\u5272\u308b\u306810\u51048,000\u4e07\u5186\u306b\u306a\u308a\u3001NCF\u3067\u6c42\u3081\u305f10\u5104\u5186\u3088\u308a<b><span class=\"swl-marker mark_yellow\">8,000\u4e07\u5186\u9ad8\u304f\u51fa\u307e\u3059<\/span><\/b>\u3002\u5dee\u306e\u3082\u3068\u306fNOI\u3068NCF\u306e\u5dee400\u4e07\u5186\u3067\u3001\u8cc7\u672c\u7684\u652f\u51fa420\u4e07\u5186\u304b\u3089\u4e00\u6642\u91d1\u306e\u904b\u7528\u76ca20\u4e07\u5186\u3092\u5f15\u3044\u305f\u91d1\u984d\u306b\u3042\u305f\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u53d6\u5f97\u4fa1\u683c10\u5104\u5186\u306b\u5bfe\u3059\u308b\u5229\u56de\u308a\u3082\u3001NOI\u3067\u898b\u308c\u30705.4%\u3001NCF\u3067\u898b\u308c\u30705.0%\u3068\u9055\u3063\u3066\u898b\u3048\u307e\u3059\u3002\u5229\u56de\u308a\u3092\u53e3\u306b\u3059\u308b\u3068\u304d\u306f\u3001NOI\u3068NCF\u306e\u3069\u3061\u3089\u3067\u8a08\u7b97\u3057\u305f\u304b\u3092\u6bce\u56de\u6dfb\u3048\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u30ad\u30e3\u30c3\u30d7\u30ec\u30fc\u30c8\u3092\u52d5\u304b\u3057\u305f\u3089\u3001\u4fa1\u683c\u304c\u3069\u3061\u3089\u3078\u4f55%\u52d5\u304f\u304b\u3092\u5148\u306b\u8a00\u3046<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">NCF\u304c5,000\u4e07\u5186\u306e\u307e\u307e\u9084\u5143\u5229\u56de\u308a\u304c5.0%\u304b\u30890.1pt\u4e0a\u304c\u308b\u3068\u3001\u4fa1\u683c\u306f<b><span class=\"swl-marker mark_yellow\">\u7d042%\u4e0b\u304c\u308a\u307e\u3059<\/span><\/b>\u3002\u52d5\u304b\u3059\u5e45\u3092\u5927\u304d\u304f\u3059\u308b\u3068\u3001\u4e0a\u3052\u305f\u3068\u304d\u3068\u4e0b\u3052\u305f\u3068\u304d\u3067\u5909\u5316\u306e\u5927\u304d\u3055\u304c\u305d\u308d\u308f\u306a\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n<div class=\"c-scrollHint sp_\"><span>\u30b9\u30af\u30ed\u30fc\u30eb\u3067\u304d\u307e\u3059 <i class=\"icon-more_arrow\"><\/i><\/span><\/div>\n<figure data-table-scrollable=\"sp\" class=\"wp-block-table min_width20_\">\n<table style=\"--table-width:520px;\">\n<thead><tr><th>\u9084\u5143\u5229\u56de\u308a<\/th><th>\u4fa1\u683c\uff08\u4e07\u5186\uff09<\/th><th>5.0%\u3068\u306e\u5dee<\/th><\/tr><\/thead>\n<tbody>\n<tr><td>4.5%<\/td><td>111,111<\/td><td>+11.1%<\/td><\/tr>\n<tr><td>4.9%<\/td><td>102,041<\/td><td>+2.0%<\/td><\/tr>\n<tr><td>5.0%<\/td><td>100,000<\/td><td>\u2014<\/td><\/tr>\n<tr><td>5.1%<\/td><td>98,039<\/td><td>\u22122.0%<\/td><\/tr>\n<tr><td>5.5%<\/td><td>90,909<\/td><td>\u22129.1%<\/td><\/tr>\n<\/tbody>\n<\/table>\n<figcaption class=\"wp-element-caption\">\u51fa\u6240\uff1a\u5f0a\u793e\u4f5c\u6210\uff08\u67b6\u7a7a\u306e\u6570\u5024\u4f8b\u3002NCF 5,000\u4e07\u5186\u3092\u9084\u5143\u5229\u56de\u308a\u3067\u5272\u3063\u3066\u7b97\u51fa\uff09<\/figcaption>\n<\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">0.1pt\u3067\u7d042%\u3068\u3044\u3046\u5e45\u306f\u30010.1\u30925.0\u3067\u5272\u3063\u305f\u6bd4\u7387\u3068\u307b\u307c\u540c\u3058\u3067\u3059\u3002\u6697\u7b97\u3067<b><span class=\"swl-marker mark_yellow\">\u5411\u304d\u3068\u304a\u304a\u3088\u305d\u306e\u5e45<\/span><\/b>\u3092\u8a00\u3063\u3066\u304b\u3089\u6b63\u78ba\u306a\u6570\u5b57\u3092\u8a08\u7b97\u3059\u308c\u3070\u3001\u9014\u4e2d\u3067\u6570\u5b57\u3092\u9593\u9055\u3048\u3066\u3082\u8aac\u660e\u306e\u7b4b\u306f\u6b8b\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">0.5pt\u52d5\u304b\u3059\u3068\u3001\u4e0b\u3052\u305f\u5074\u306f+11.1%\u3001\u4e0a\u3052\u305f\u5074\u306f\u22129.1%\u3067\u3059\u3002\u4fa1\u683c\u306f\u5229\u56de\u308a\u306e\u9006\u6570\u3067\u6c7a\u307e\u308b\u305f\u3081\u3001\u5229\u56de\u308a\u304c\u4e0b\u304c\u308b\u5074\u306e\u5909\u5316\u304c\u5927\u304d\u304f\u51fa\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">ARES\u306e\u7528\u8a9e\u96c6\u306f\u3001\u30ad\u30e3\u30c3\u30d7\u30ec\u30fc\u30c8\u3092\u3044\u304f\u3089\u306b\u8a2d\u5b9a\u3059\u308b\u304b\u3067\u8a55\u4fa1\u984d\u304c<b><span class=\"swl-marker mark_yellow\">\u5927\u304d\u304f\u5909\u308f\u308b<\/span><\/b>\u3068\u8aac\u660e\u3057\u3066\u3044\u307e\u3059\u3002\u300c\u3053\u306e\u5229\u56de\u308a\u306e\u6839\u62e0\u306f\u300d\u3068\u805e\u304b\u308c\u3066\u3082\u7b54\u3048\u3089\u308c\u308b\u3088\u3046\u3001\u985e\u4f3c\u306e\u53d6\u5f15\u4e8b\u4f8b\u306a\u306e\u304b\u3001\u501f\u5165\u3068\u81ea\u5df1\u8cc7\u91d1\u306e\u5229\u56de\u308a\u304b\u3089\u7d44\u307f\u7acb\u3066\u305f\u306e\u304b\u306a\u3069\u3001\u3069\u306e\u6750\u6599\u304b\u3089\u7f6e\u3044\u305f\u304b\u3092\u4e00\u8a00\u6dfb\u3048\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">DCF\u3067\u306f\u5272\u5f15\u7387\u3068\u51fa\u53e3\u306e\u5229\u56de\u308a\u3092\u5206\u3051\u3066\u8aac\u660e\u3059\u308b<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">DCF\u6cd5\u306e\u4fa1\u683c\u306f\u3001\u4fdd\u6709\u671f\u9593\u4e2d\u306eNCF\u306e\u73fe\u5728\u4fa1\u5024\u3068\u3001<b><span class=\"swl-marker mark_yellow\">\u58f2\u5374\u6642\u306e\u4fa1\u5024\u306e\u73fe\u5728\u4fa1\u5024<\/span><\/b>\u3092\u8db3\u3057\u305f\u3082\u306e\u3067\u3059\u3002\u4e0d\u52d5\u7523\u9451\u5b9a\u8a55\u4fa1\u57fa\u6e96\u306f\u3001\u8a3c\u5238\u5316\u5bfe\u8c61\u4e0d\u52d5\u7523\u306e\u53ce\u76ca\u4fa1\u683c\u3092\u6c42\u3081\u308b\u3068\u304d\u306fDCF\u6cd5\u3092\u9069\u7528\u3057\u306a\u3051\u308c\u3070\u306a\u3089\u306a\u3044\u3068\u3057\u3001\u3042\u308f\u305b\u3066\u76f4\u63a5\u9084\u5143\u6cd5\u3067\u691c\u8a3c\u3059\u308b\u306e\u304c\u9069\u5207\u3068\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u5272\u5f15\u7387\u3068\u9084\u5143\u5229\u56de\u308a\u306f\u5f79\u5272\u304c\u9055\u3046<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u9084\u5143\u5229\u56de\u308a\u306f\u3001\u4e00\u671f\u9593\u306e\u7d14\u53ce\u76ca\u304b\u3089\u4fa1\u683c\u3092\u76f4\u63a5\u6c42\u3081\u308b\u7387\u3067\u3001\u5c06\u6765\u306e\u53ce\u76ca\u306e\u5909\u52d5\u4e88\u6e2c\u3068\u4e0d\u78ba\u5b9f\u6027\u3092\u542b\u307f\u307e\u3059\u3002\u5272\u5f15\u7387\u306f\u3001\u5c06\u6765\u306e\u53ce\u76ca\u3092\u73fe\u5728\u306e\u4fa1\u5024\u306b\u5272\u308a\u623b\u3059\u7387\u3067\u3001<b><span class=\"swl-marker mark_yellow\">\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306b\u7e54\u308a\u8fbc\u3093\u3060\u5909\u52d5<\/span><\/b>\u306e\u5206\u306f\u542b\u3081\u307e\u305b\u3093\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u57fa\u6e96\u306e\u904b\u7528\u4e0a\u306e\u7559\u610f\u4e8b\u9805\u306f\u3001\u4e21\u8005\u306e\u95a2\u4fc2\u3092\u300cR\uff1dY\u2212g\u300d\uff08R\u306f\u9084\u5143\u5229\u56de\u308a\u3001Y\u306f\u5272\u5f15\u7387\u3001g\u306f\u7d14\u53ce\u76ca\u306e\u5909\u52d5\u7387\uff09\u3068\u793a\u3057\u3066\u3044\u307e\u3059\u3002\u305f\u3060\u3057\u3001\u7d14\u53ce\u76ca\u304c\u6c38\u7d9a\u7684\u306b\u5f97\u3089\u308c\u3001\u4e00\u5b9a\u306e\u8da8\u52e2\u3092\u6301\u3064\u3068\u60f3\u5b9a\u3067\u304d\u308b\u5834\u5408\u306b\u6709\u52b9\u306a\u5f0f\u3067\u3059\u3002\u672c\u8a18\u4e8b\u306e\u4f8b\u306fNCF\u3092\u6bce\u5e745,000\u4e07\u5186\u306e\u6a2a\u3070\u3044\uff08g\uff1d0\uff09\u3068\u7f6e\u3044\u305f\u306e\u3067\u3001\u5272\u5f15\u7387\u3068\u9084\u5143\u5229\u56de\u308a\u3092\u3069\u3061\u3089\u30825.0%\u306b\u305d\u308d\u3048\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u76f4\u63a5\u9084\u5143\u6cd5\u306e10\u5104\u5186\u3068DCF\u306e\u5dee\u3092\u5206\u89e3\u3059\u308b<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u4fdd\u67095\u5e74\u30015\u5e74\u76ee\u306e\u7d42\u308f\u308a\u306b\u58f2\u5374\u3059\u308b\u524d\u63d0\u3067DCF\u3092\u7d44\u3080\u3068\u3001\u4fa1\u683c\u306f9\u51044,776\u4e07\u5186\u306b\u306a\u308a\u3001\u76f4\u63a5\u9084\u5143\u6cd5\u306e10\u5104\u5186\u3088\u308a<b><span class=\"swl-marker mark_yellow\">\u7d045,200\u4e07\u5186\u4f4e\u304f\u306a\u308a\u307e\u3059<\/span><\/b>\u3002\u3069\u3053\u3067\u5dee\u304c\u751f\u307e\u308c\u305f\u304b\u3092\u3001\u524d\u63d0\u30921\u3064\u305a\u3064\u8db3\u3057\u3066\u78ba\u304b\u3081\u307e\u3059\u3002<\/p>\n\n\n<div class=\"c-scrollHint sp_\"><span>\u30b9\u30af\u30ed\u30fc\u30eb\u3067\u304d\u307e\u3059 <i class=\"icon-more_arrow\"><\/i><\/span><\/div>\n<figure data-table-scrollable=\"sp\" class=\"wp-block-table min_width20_\">\n<table style=\"--table-width:760px;\">\n<thead><tr><th>\u624b\u9806<\/th><th>\u524d\u63d0<\/th><th>DCF\u306e\u4fa1\u683c\uff08\u4e07\u5186\uff09<\/th><th>\u524d\u306e\u624b\u9806\u3068\u306e\u5dee<\/th><\/tr><\/thead>\n<tbody>\n<tr><td>\u2460<\/td><td>\u5272\u5f15\u73875.0%\u3001\u6700\u7d42\u9084\u5143\u5229\u56de\u308a5.0%\u3001\u58f2\u5374\u8cbb\u7528\u306a\u3057<\/td><td>100,000<\/td><td>\u2014<\/td><\/tr>\n<tr><td>\u2461<\/td><td>\u2460\u306b\u58f2\u5374\u8cbb\u7528\uff08\u5fa9\u5e30\u4fa1\u683c\u306e2%\uff09\u3092\u52a0\u3048\u308b<\/td><td>98,433<\/td><td>\u22121,567<\/td><\/tr>\n<tr><td>\u2462<\/td><td>\u2461\u306e\u6700\u7d42\u9084\u5143\u5229\u56de\u308a\u30925.25%\u306b\u3059\u308b<\/td><td>94,776<\/td><td>\u22123,657<\/td><\/tr>\n<\/tbody>\n<\/table>\n<figcaption class=\"wp-element-caption\">\u51fa\u6240\uff1a\u5f0a\u793e\u4f5c\u6210\uff08\u67b6\u7a7a\u306e\u6570\u5024\u4f8b\u3002NCF\u306f\u6bce\u5e745,000\u4e07\u5186\u3001\u4fdd\u67095\u5e74\u3002\u5fa9\u5e30\u4fa1\u683c\u306f6\u5e74\u76ee\u306eNCF\u3092\u6700\u7d42\u9084\u5143\u5229\u56de\u308a\u3067\u5272\u3063\u3066\u7b97\u51fa\uff09<\/figcaption>\n<\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u624b\u9806\u2460\u304c\u76f4\u63a5\u9084\u5143\u6cd5\u3068\u540c\u305810\u5104\u5186\u306b\u306a\u308b\u306e\u306f\u3001NCF\u304c\u6a2a\u3070\u3044\u3067\u5272\u5f15\u7387\u3068\u5229\u56de\u308a\u304c\u7b49\u3057\u3044\u304b\u3089\u3067\u3059\u3002\u305d\u306e\u3046\u3048\u3067\u2462\u3092\u898b\u308b\u3068\u3001\u4fa1\u683c\u306e\u7d0477%\u304c\u58f2\u5374\u6642\u306e\u4fa1\u5024\u306e\u73fe\u5728\u4fa1\u5024\u3067\u3001<b><span class=\"swl-marker mark_yellow\">\u51fa\u53e3\u306e\u524d\u63d0\u304c\u7d50\u679c\u306e\u5927\u534a<\/span><\/b>\u3092\u5360\u3081\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u6700\u7d42\u9084\u5143\u5229\u56de\u308a\u306b\u3064\u3044\u3066\u3001\u904b\u7528\u4e0a\u306e\u7559\u610f\u4e8b\u9805\u306f\u3001\u4fa1\u683c\u6642\u70b9\u306e\u9084\u5143\u5229\u56de\u308a\u3092\u3082\u3068\u306b\u3001\u4fdd\u6709\u671f\u9593\u6e80\u4e86\u6642\u306e\u5e02\u5834\u52d5\u5411\u3084\u305d\u308c\u4ee5\u964d\u306e\u4e0d\u78ba\u5b9f\u6027\u3092\u53cd\u6620\u3055\u305b\u3066\u6c42\u3081\u308b\u3068\u3057\u3066\u3044\u307e\u3059\u3002\u53d6\u5f97\u6642\u3088\u308a\u9ad8\u304f\u7f6e\u304f\u3068\u6c7a\u307e\u3063\u3066\u3044\u308b\u308f\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u30020.25pt\u4e0a\u4e57\u305b\u3057\u305f\u306a\u3089\u3001\u5efa\u7269\u306e\u7d4c\u5e74\u3084\u58f2\u5374\u6642\u306e\u5e02\u5834\u3092\u3069\u3046\u898b\u305f\u306e\u304b\u3001\u7406\u7531\u307e\u3067\u8a71\u305b\u308b\u3088\u3046\u306b\u3057\u3066\u304a\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u58f2\u5374\u8cbb\u7528\u3082\u898b\u843d\u3068\u3057\u3084\u3059\u3044\u524d\u63d0\u3067\u3059\u3002\u7559\u610f\u4e8b\u9805\u306f\u58f2\u5374\u306b\u8981\u3059\u308b\u8cbb\u7528\u306e\u63a7\u9664\u3092\u6c42\u3081\u3066\u304a\u308a\u3001ARES\u306e\u7528\u8a9e\u96c6\u306f<b><span class=\"swl-marker mark_yellow\">\u4ef2\u4ecb\u624b\u6570\u6599\u7b49<\/span><\/b>\u3092\u4f8b\u306b\u6319\u3052\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u5272\u5f15\u7387\u3068\u6700\u7d42\u9084\u5143\u5229\u56de\u308a\u306e\u611f\u5fdc\u5ea6\u8868<\/h3>\n\n\n<div class=\"c-scrollHint sp_\"><span>\u30b9\u30af\u30ed\u30fc\u30eb\u3067\u304d\u307e\u3059 <i class=\"icon-more_arrow\"><\/i><\/span><\/div>\n<figure data-table-scrollable=\"sp\" class=\"wp-block-table min_width20_\">\n<table style=\"--table-width:600px;\">\n<thead><tr><th>\u5272\u5f15\u7387\uff3c\u6700\u7d42\u9084\u5143\u5229\u56de\u308a<\/th><th>5.00%<\/th><th>5.25%<\/th><th>5.50%<\/th><\/tr><\/thead>\n<tbody>\n<tr><td>4.8%<\/td><td>99,289<\/td><td>95,597<\/td><td>92,241<\/td><\/tr>\n<tr><td>5.0%<\/td><td>98,433<\/td><td>94,776<\/td><td>91,452<\/td><\/tr>\n<tr><td>5.2%<\/td><td>97,587<\/td><td>93,965<\/td><td>90,672<\/td><\/tr>\n<\/tbody>\n<\/table>\n<figcaption class=\"wp-element-caption\">\u51fa\u6240\uff1a\u5f0a\u793e\u4f5c\u6210\uff08\u67b6\u7a7a\u306e\u6570\u5024\u4f8b\u3002\u5358\u4f4d\u306f\u4e07\u5186\u3002NCF\u306f\u6bce\u5e745,000\u4e07\u5186\u3001\u4fdd\u67095\u5e74\u3001\u58f2\u5374\u8cbb\u7528\u306f\u5fa9\u5e30\u4fa1\u683c\u306e2%\uff09<\/figcaption>\n<\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u306e\u4f8b\u3067\u306f\u3001\u5272\u5f15\u73875.0%\u306e\u307e\u307e\u6700\u7d42\u9084\u5143\u5229\u56de\u308a\u30920.25pt\u4e0a\u3052\u308b\u3068\u4fa1\u683c\u306f\u7d043.7%\u4e0b\u304c\u308a\u3001\u6700\u7d42\u9084\u5143\u5229\u56de\u308a5.25%\u306e\u307e\u307e\u5272\u5f15\u7387\u30920.2pt\u4e0a\u3052\u3066\u3082<b><span class=\"swl-marker mark_yellow\">\u7d040.9%\u306e\u4f4e\u4e0b<\/span><\/b>\u306b\u3068\u3069\u307e\u308a\u307e\u3059\u3002\u3069\u3061\u3089\u306e\u524d\u63d0\u304c\u52b9\u304f\u304b\u306f\u4fdd\u6709\u671f\u9593\u3084\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u306e\u5f62\u3067\u5909\u308f\u308b\u306e\u3067\u3001\u9762\u63a5\u3067\u306f\u300c\u3053\u306e\u524d\u63d0\u306a\u3089\u3053\u3061\u3089\u304c\u52b9\u304d\u307e\u3059\u300d\u3068\u6761\u4ef6\u3092\u4ed8\u3051\u3066\u7b54\u3048\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">LTV\u3092\u4e0a\u3052\u305f\u3068\u304d\u306eIRR\u306f\u3001\u4e0a\u632f\u308c\u3068\u4e0b\u632f\u308c\u3092\u4e00\u7dd2\u306b\u793a\u3059<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u501f\u5165\u3092\u5897\u3084\u3059\u3068\u30a8\u30af\u30a4\u30c6\u30a3IRR\u304c\u4e0a\u304c\u308b\u306e\u306f\u3001<b><span class=\"swl-marker mark_yellow\">\u501f\u5165\u524d\u306eIRR\u304c\u91d1\u5229\u3092\u4e0a\u56de\u308b\u9593<\/span><\/b>\u3060\u3051\u3067\u3059\u3002\u4e0a\u304c\u308b\u5834\u9762\u3068\u4e0b\u304c\u308b\u5834\u9762\u306f\u3001\u540c\u3058\u8868\u3067\u4e26\u3079\u3066\u793a\u3059\u306e\u304c\u8fd1\u9053\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">LTV\u306f\u6709\u5229\u5b50\u8ca0\u50b5\u984d\u3092\u5bfe\u8c61\u8cc7\u7523\u306e\u4fa1\u5024\u3067\u5272\u3063\u305f\u6bd4\u7387\u3001DSCR\u306fNOI\u3092\u5143\u5229\u8fd4\u6e08\u984d\u3067\u5272\u3063\u305f\u6bd4\u7387\u3067\u3001\u3069\u3061\u3089\u3082\u501f\u5165\u91d1\u8fd4\u6e08\u306e\u5b89\u5168\u5ea6\u3092\u6e2c\u308b\u5c3a\u5ea6\u3060\u3068ARES\u306e\u7528\u8a9e\u96c6\u306f\u8aac\u660e\u3057\u3066\u3044\u307e\u3059\u3002\u501f\u5165\u3092\u6883\u5b50\u306b\u3057\u3066\u81ea\u5df1\u8cc7\u672c\u306e\u5229\u56de\u308a\u3092\u9ad8\u3081\u308b\u50cd\u304d\u306f\u3001\u540c\u3058\u7528\u8a9e\u96c6\u3067\u306f\u300c\u30ec\u30d0\u30ec\u30c3\u30b8\u52b9\u679c\u300d\u306e\u9805\u76ee\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u3053\u3053\u3067\u306f\u53d6\u5f97\u4fa1\u683c10\u5104\u5186\u3001NCF\u5e745,000\u4e07\u5186\u306e\u7269\u4ef6\u306b\u3001\u5229\u606f\u3060\u3051\u3092\u6255\u3046\u91d1\u52292.0%\u306e\u501f\u5165\u3092\u5165\u308c\u307e\u3059\u3002\u53d6\u5f97\u8cbb\u7528\u3084\u7a0e\u91d1\u306f\u8a08\u7b97\u304b\u3089\u9664\u3044\u305f\u3001\u5358\u7d14\u306a\u4f8b\u3067\u3059\u3002<\/p>\n\n\n<div class=\"c-scrollHint sp_\"><span>\u30b9\u30af\u30ed\u30fc\u30eb\u3067\u304d\u307e\u3059 <i class=\"icon-more_arrow\"><\/i><\/span><\/div>\n<figure data-table-scrollable=\"sp\" class=\"wp-block-table min_width20_\">\n<table style=\"--table-width:820px;\">\n<thead><tr><th>LTV<\/th><th>\u501f\u5165<\/th><th>\u30a8\u30af\u30a4\u30c6\u30a3<\/th><th>\u5e74\u9593\u306e\u5229\u606f<\/th><th>\u5229\u606f\u3092\u6255\u3063\u305f\u5f8c\u306eCF<\/th><th>\u521d\u5e74\u5ea6\u306e\u30a8\u30af\u30a4\u30c6\u30a3\u5229\u56de\u308a<\/th><th>NOI\u00f7\u5229\u606f<\/th><\/tr><\/thead>\n<tbody>\n<tr><td>0%<\/td><td>0<\/td><td>100,000<\/td><td>0<\/td><td>5,000<\/td><td>5.0%<\/td><td>\u2014<\/td><\/tr>\n<tr><td>50%<\/td><td>50,000<\/td><td>50,000<\/td><td>1,000<\/td><td>4,000<\/td><td>8.0%<\/td><td>5.4<\/td><\/tr>\n<tr><td>60%<\/td><td>60,000<\/td><td>40,000<\/td><td>1,200<\/td><td>3,800<\/td><td>9.5%<\/td><td>4.5<\/td><\/tr>\n<tr><td>70%<\/td><td>70,000<\/td><td>30,000<\/td><td>1,400<\/td><td>3,600<\/td><td>12.0%<\/td><td>3.9<\/td><\/tr>\n<\/tbody>\n<\/table>\n<figcaption class=\"wp-element-caption\">\u51fa\u6240\uff1a\u5f0a\u793e\u4f5c\u6210\uff08\u67b6\u7a7a\u306e\u6570\u5024\u4f8b\u3002\u5358\u4f4d\u306f\u4e07\u5186\u3002\u501f\u5165\u306f\u5229\u606f\u306e\u307f\u306e\u524d\u63d0\u306e\u305f\u3081\u3001\u53f3\u5217\u306f\u5143\u672c\u8fd4\u6e08\u3092\u542b\u307e\u306a\u3044\uff09<\/figcaption>\n<\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u521d\u5e74\u5ea6\u306e\u5229\u56de\u308a\u3060\u3051\u3092\u898b\u308c\u3070\u3001\u501f\u5165\u3092\u5897\u3084\u3059\u307b\u3069\u6709\u5229\u3067\u3059\u3002\u305f\u3060\u3057\u58f2\u5374\u307e\u3067\u542b\u3081\u305fIRR\u3067\u6bd4\u3079\u308b\u3068\u3001\u51fa\u53e3\u306e\u5229\u56de\u308a\u3057\u3060\u3044\u3067\u7d50\u8ad6\u304c\u5909\u308f\u308a\u307e\u3059\u3002<\/p>\n\n\n<div class=\"c-scrollHint sp_\"><span>\u30b9\u30af\u30ed\u30fc\u30eb\u3067\u304d\u307e\u3059 <i class=\"icon-more_arrow\"><\/i><\/span><\/div>\n<figure data-table-scrollable=\"sp\" class=\"wp-block-table min_width20_\">\n<table style=\"--table-width:760px;\">\n<thead><tr><th>LTV<\/th><th>\u51fa\u53e35.00%\uff08\u58f2\u5374\u624b\u53d6\u308a98,000\uff09<\/th><th>\u51fa\u53e35.25%\uff0893,333\uff09<\/th><th>\u51fa\u53e36.00%\uff0881,667\uff09<\/th><\/tr><\/thead>\n<tbody>\n<tr><td>0%<\/td><td>4.64%<\/td><td>3.76%<\/td><td>1.44%<\/td><\/tr>\n<tr><td>50%<\/td><td>7.31%<\/td><td>5.62%<\/td><td>0.78%<\/td><\/tr>\n<tr><td>60%<\/td><td>8.66%<\/td><td>6.58%<\/td><td>0.41%<\/td><\/tr>\n<tr><td>70%<\/td><td>10.93%<\/td><td>8.23%<\/td><td>\u22120.29%<\/td><\/tr>\n<\/tbody>\n<\/table>\n<figcaption class=\"wp-element-caption\">\u51fa\u6240\uff1a\u5f0a\u793e\u4f5c\u6210\uff08\u67b6\u7a7a\u306e\u6570\u5024\u4f8b\u3002\u4fdd\u67095\u5e74\u306e\u30a8\u30af\u30a4\u30c6\u30a3IRR\u3002\u58f2\u5374\u624b\u53d6\u308a\u306f6\u5e74\u76ee\u306eNCF\u3092\u51fa\u53e3\u306e\u5229\u56de\u308a\u3067\u5272\u308a\u3001\u58f2\u5374\u8cbb\u75282%\u3092\u63a7\u9664\u3002\u501f\u5165\u5143\u672c\u306f\u58f2\u5374\u6642\u306b\u8fd4\u6e08\uff09<\/figcaption>\n<\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u51fa\u53e3\u306e\u5229\u56de\u308a\u304c\u53d6\u5f97\u6642\u306e5.0%\u306b\u8fd1\u3044\u3046\u3061\u306f\u3001LTV\u3092\u4e0a\u3052\u308b\u307b\u3069IRR\u306f\u4e0a\u304c\u308a\u307e\u3059\u3002\u3068\u3053\u308d\u304c\u51fa\u53e3\u304c6.00%\u307e\u3067\u4e0a\u304c\u308b\u3068\u3001\u501f\u5165\u524d\u306eIRR\u304c\u91d1\u52292.0%\u3092\u4e0b\u56de\u308a\u3001\u4eca\u5ea6\u306f<b><span class=\"swl-marker mark_yellow\">LTV\u3092\u4e0a\u3052\u308b\u307b\u3069IRR\u304c\u4e0b\u304c\u308a\u307e\u3059<\/span><\/b>\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">LTV60%\u3067\u51fa\u53e3\u304c6.00%\u306e\u5834\u5408\u3001\u5f53\u521d4\u5104\u5186\u306e\u30a8\u30af\u30a4\u30c6\u30a3\u306b\u5bfe\u3057\u3066\u3001\u58f2\u5374\u5f8c\u306b\u623b\u308b\u306e\u306f\u7d042\u51041,667\u4e07\u5186\u3067\u3059\u3002\u501f\u5165\u306e\u5143\u672c\u306f\u58f2\u5374\u4ee3\u91d1\u304b\u3089\u5148\u306b\u8fd4\u3059\u305f\u3081\u3001\u4fa1\u683c\u306e\u4e0b\u843d\u306f\u307e\u305a\u30a8\u30af\u30a4\u30c6\u30a3\u304c\u53d7\u3051\u6b62\u3081\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">IRR\u306f\u3001<b><span class=\"swl-marker mark_yellow\">\u8a08\u7b97\u306b\u4f7f\u3046\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u305d\u308d\u3048\u306a\u3044\u3068<\/span><\/b>\u3001\u540c\u3058\u7269\u4ef6\u3067\u3082\u6570\u5b57\u304c\u4e00\u81f4\u3057\u307e\u305b\u3093\u3002\u4e0a\u306eIRR\u306e\u8868\u306f\u3001NOI\u3067\u306f\u306a\u304fNCF\u3067\u8a08\u7b97\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u8a55\u4fa1\u57fa\u6e96\u3054\u3068\u306e\u6df1\u6398\u308a\u8cea\u554f\u3068\u3001\u7b54\u3048\u65b9\u306eNG\u4f8b<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u8a08\u7b97\u306e\u8cea\u554f\u306b\u306f\u3001<b><span class=\"swl-marker mark_yellow\">\u7d50\u8ad6\u306e\u5411\u304d\u3001\u7f6e\u3044\u305f\u524d\u63d0\u3001\u78ba\u304b\u3081\u305f\u3044\u60c5\u5831<\/span><\/b>\u306e\u9806\u3067\u7b54\u3048\u308b\u3068\u5d29\u308c\u306b\u304f\u304f\u306a\u308a\u307e\u3059\u3002\u4e0b\u306e\u8868\u306f\u3001\u5404\u793e\u306e\u52df\u96c6\u8981\u9805\u304c\u6319\u3052\u308b\u8077\u52d9\uff08\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u5206\u6790\u3001\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u3001\u30ed\u30fc\u30f3\u8abf\u9054\u3001\u6295\u8cc7\u59d4\u54e1\u4f1a\u8cc7\u6599\uff09\u3092\u3001\u9762\u63a5\u3067\u78ba\u304b\u3081\u3089\u308c\u305d\u3046\u306a\u89b3\u70b9\u306b\u7f6e\u304d\u63db\u3048\u305f\u3082\u306e\u3067\u3059\u3002<\/p>\n\n\n<div class=\"c-scrollHint sp_\"><span>\u30b9\u30af\u30ed\u30fc\u30eb\u3067\u304d\u307e\u3059 <i class=\"icon-more_arrow\"><\/i><\/span><\/div>\n<figure data-table-scrollable=\"sp\" class=\"wp-block-table min_width20_\">\n<table style=\"--table-width:960px;\">\n<thead><tr><th>\u8a55\u4fa1\u57fa\u6e96<\/th><th>\u6df1\u6398\u308a\u8cea\u554f\u306e\u4f8b<\/th><th>\u826f\u3044\u56de\u7b54\u306e\u69cb\u9020<\/th><th>NG\u306b\u306a\u308a\u3084\u3059\u3044\u56de\u7b54<\/th><th>\u6e96\u5099\u3059\u308b\u8cc7\u6599<\/th><\/tr><\/thead>\n<tbody>\n<tr><td>\u53ce\u76ca\u306e\u524d\u63d0\u3092\u7f6e\u3051\u308b\u304b<\/td><td>\u7a7a\u5ba4\u7b49\u640d\u5931\u3068\u904b\u55b6\u8cbb\u7528\u306f\u3069\u3046\u7f6e\u304d\u307e\u3057\u305f\u304b<\/td><td>\u7f6e\u3044\u305f\u6570\u5b57 \u2192 \u6839\u62e0\u306b\u3057\u305f\u8cc7\u6599\uff08\u30ec\u30f3\u30c8\u30ed\u30fc\u30eb\u306a\u3069\uff09\u2192 \u4fa1\u683c\u3078\u306e\u5f71\u97ff<\/td><td>\u300c\u4e00\u822c\u7684\u306a\u6c34\u6e96\u3067\u7f6e\u304d\u307e\u3057\u305f\u300d\u3068\u3060\u3051\u7b54\u3048\u3001\u6839\u62e0\u3092\u8a00\u308f\u306a\u3044<\/td><td>\u81ea\u5206\u3067\u4f5c\u3063\u305f\u53ce\u652f\u88681\u679a<\/td><\/tr>\n<tr><td>NOI\u3068NCF\u3092\u533a\u5206\u3067\u304d\u308b\u304b<\/td><td>\u3053\u306e\u5229\u56de\u308a\u306fNOI\u3068NCF\u306e\u3069\u3061\u3089\u3067\u3059\u304b<\/td><td>\u9805\u76ee\u306e\u5b9a\u7fa9 \u2192 \u8cc7\u672c\u7684\u652f\u51fa\u306e\u7f6e\u304d\u65b9 \u2192 \u4fa1\u683c\u306e\u5dee<\/td><td>\u7565\u79f0\u3060\u3051\u3067\u7b54\u3048\u3001\u8cc7\u672c\u7684\u652f\u51fa\u3092\u904b\u55b6\u8cbb\u7528\u3068\u6df7\u305c\u308b<\/td><td>\u9805\u76ee\u306e\u5bfe\u5fdc\u8868<\/td><\/tr>\n<tr><td>\u611f\u5fdc\u5ea6\u3092\u8a00\u3048\u308b\u304b<\/td><td>\u5229\u56de\u308a\u304c0.1pt\u4e0a\u304c\u308b\u3068\u4fa1\u683c\u306f\u3069\u3046\u306a\u308a\u307e\u3059\u304b<\/td><td>\u5411\u304d \u2192 \u304a\u304a\u3088\u305d\u306e\u5e45 \u2192 \u6761\u4ef6\uff08\u5229\u56de\u308a\u306e\u6c34\u6e96\uff09<\/td><td>\u5411\u304d\u3092\u8a00\u308f\u305a\u306b\u96fb\u5353\u3067\u8a08\u7b97\u3092\u59cb\u3081\u308b<\/td><td>\u30ad\u30e3\u30c3\u30d7\u30ec\u30fc\u30c8\u306e\u611f\u5fdc\u5ea6\u8868<\/td><\/tr>\n<tr><td>DCF\u306e\u51fa\u53e3\u524d\u63d0\u3092\u8aac\u660e\u3067\u304d\u308b\u304b<\/td><td>\u6700\u7d42\u9084\u5143\u5229\u56de\u308a\u3092\u53d6\u5f97\u6642\u3088\u308a\u9ad8\u304f\u3057\u305f\u7406\u7531\u306f\u4f55\u3067\u3059\u304b<\/td><td>\u7f6e\u3044\u305f\u6570\u5b57 \u2192 \u7406\u7531\uff08\u7d4c\u5e74\u30fb\u58f2\u5374\u6642\u306e\u5e02\u5834\uff09\u2192 \u4fa1\u683c\u3078\u306e\u5f71\u97ff\u306e\u5927\u304d\u3055<\/td><td>\u300c\u4fdd\u5b88\u7684\u306b\u7f6e\u304d\u307e\u3057\u305f\u300d\u3067\u7d42\u308f\u308a\u3001\u7406\u7531\u3092\u8a00\u308f\u306a\u3044<\/td><td>\u5dee\u306e\u5206\u89e3\u8868\u30013\u00d73\u306e\u611f\u5fdc\u5ea6\u8868<\/td><\/tr>\n<tr><td>\u501f\u5165\u306e\u30ea\u30b9\u30af\u3092\u4e21\u9762\u3067\u8a71\u305b\u308b\u304b<\/td><td>LTV\u3092\u4e0a\u3052\u308b\u3068IRR\u306f\u3069\u3046\u306a\u308a\u307e\u3059\u304b<\/td><td>\u4e0a\u304c\u308b\u6761\u4ef6 \u2192 \u4e0b\u304c\u308b\u6761\u4ef6 \u2192 \u5b89\u5168\u5ea6\u306e\u6307\u6a19\uff08LTV\u30fbDSCR\uff09<\/td><td>\u300c\u30ec\u30d0\u30ec\u30c3\u30b8\u3067IRR\u304c\u4e0a\u304c\u308a\u307e\u3059\u300d\u3068\u4e0a\u632f\u308c\u3060\u3051\u3092\u8a71\u3059<\/td><td>LTV\u3068\u51fa\u53e3\u5229\u56de\u308a\u5225\u306eIRR\u8868<\/td><\/tr>\n<\/tbody>\n<\/table>\n<figcaption class=\"wp-element-caption\">\u51fa\u6240\uff1a\u5404\u793e\u306e\u516c\u5f0f\u63a1\u7528\u30da\u30fc\u30b8\uff08\u30af\u30ea\u30a2\u30eb\u3001DBJ\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u3001\u971e\u30f6\u95a2\u30ad\u30e3\u30d4\u30bf\u30eb\uff09\u3092\u3082\u3068\u306b\u30ea\u30e1\u30c7\u30a3\u306e\u898b\u89e3\u3068\u3057\u3066\u4f5c\u6210<\/figcaption>\n<\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">5\u3064\u306e\u884c\u306b\u5171\u901a\u3059\u308bNG\u306f\u3001\u6570\u5b57\u3060\u3051\u3092\u8a00\u3063\u3066\u524d\u63d0\u3092\u8a00\u308f\u306a\u3044\u3053\u3068\u3067\u3059\u3002\u8a08\u7b97\u304c\u5408\u308f\u306a\u304b\u3063\u305f\u3068\u304d\u3082\u3001\u524d\u63d0\u304b\u3089\u9806\u306b\u8a00\u3044\u76f4\u305b\u3070\u3001<b><span class=\"swl-marker mark_yellow\">\u8b70\u8ad6\u3092\u7acb\u3066\u76f4\u305b\u307e\u3059<\/span><\/b>\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u5fd7\u671b\u52d5\u6a5f\u3084\u9006\u8cea\u554f\u306a\u3069\u3001\u8a08\u7b97\u4ee5\u5916\u306e\u9762\u63a5\u6e96\u5099\u306f<a href=\"https:\/\/remedy-tokyo.co.jp\/media\/14581\/\">\u4e0d\u52d5\u7523\u30d5\u30a1\u30f3\u30c9\u306e\u9762\u63a5\u5bfe\u7b56<\/a>\u306b\u307e\u3068\u3081\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u5fdc\u52df\u5148\u306e\u8077\u52d9\u6b04\u306b\u30ed\u30fc\u30f3\u8abf\u9054\u3084\u6295\u8cc7\u59d4\u54e1\u4f1a\u8cc7\u6599\u306e\u8a18\u8f09\u304c\u3042\u308b\u304b\u3067\u3001\u539a\u304f\u6e96\u5099\u3057\u305f\u3044\u884c\u306f\u5909\u308f\u308a\u307e\u3059\u3002\u4e0b\u306e\u691c\u7d22\u304b\u3089\u4e0d\u52d5\u7523\u30d5\u30a1\u30f3\u30c9\u306e\u53d6\u5f97\u30fbAM\u8077\u306e\u6c42\u4eba\u3092\u958b\u304d\u3001\u8077\u52d9\u6b04\u306e\u66f8\u304d\u65b9\u3092\u898b\u6bd4\u3079\u308b\u3068\u3001\u5148\u306b\u7df4\u7fd2\u3059\u308b\u884c\u3092\u7d5e\u308c\u307e\u3059\u3002<\/p>\n\n\n<div class=\"rm-jsf rm-jsf--pos-inline\" data-ds-tone=\"white\" data-ds-version=\"remedy-hr-ds-1\">\n    <form class=\"rm-jsf__form\" method=\"GET\" action=\"https:\/\/app.remedy-tokyo.co.jp\/\" referrerpolicy=\"origin-when-cross-origin\" data-rm-jsf data-initial='{&quot;ind&quot;:&quot;6&quot;,&quot;occ&quot;:&quot;15&quot;,&quot;company&quot;:&quot;&quot;,&quot;kw&quot;:&quot;\\u4e0d\\u52d5\\u7523\\u30d5\\u30a1\\u30f3\\u30c9&quot;,&quot;annual&quot;:&quot;&quot;}'>\n                        <header class=\"rm-jsf__header\">\n                        <p class=\"rm-jsf__title\">\u4e0d\u52d5\u7523\u30d5\u30a1\u30f3\u30c9\u306e\u53d6\u5f97\u30fbAM\u8077\u306e\u6c42\u4eba\u3092\u78ba\u8a8d\u3059\u308b<\/p>\n                                <\/header>\n        \n                    \n                        <div class=\"rm-jsf__row\">\n                <label class=\"rm-jsf__row-label\" for=\"rm-jsf-occ-16608\">\u8077\u7a2e<\/label>\n                <div class=\"rm-jsf__row-control rm-jsf__row-control--select\">\n                    <select id=\"rm-jsf-occ-16608\" name=\"occupationIds\" class=\"rm-jsf__select\" data-tracked data-field=\"occ\" required>\n                        <option value=\"\">\u6307\u5b9a\u306a\u3057<\/option>\n                                                <option value=\"1\">\u30b3\u30f3\u30b5\u30eb\/\u5c02\u9580\u8077<\/option>\n                                                <option value=\"2\">M&amp;A\u30b3\u30f3\u30b5\u30eb(\u4ef2\u4ecb)<\/option>\n                                                <option value=\"3\">M&amp;A\u30a2\u30c9\u30d0\u30a4\u30b6\u30ea\u30fc(FAS)<\/option>\n                                                <option value=\"4\">\u30bb\u30fc\u30eb\u30b9<\/option>\n                                                <option value=\"5\">\u30d5\u30a1\u30f3\u30c9\u30de\u30cd\u30fc\u30b8\u30e3\u30fc<\/option>\n                                                <option value=\"6\">\u30de\u30fc\u30b1\u30c6\u30a3\u30f3\u30b0<\/option>\n                                                <option value=\"7\">\u7d4c\u55b6(CxO)<\/option>\n                                                <option value=\"8\">\u4f01\u753b(\u7d4c\u55b6\/\u4e8b\u696d\/\u65b0\u898f)<\/option>\n                                                <option value=\"9\">\u4eba\u4e8b<\/option>\n                                                <option value=\"10\">\u6cd5\u52d9<\/option>\n                                                <option value=\"11\">\u8ca1\u52d9\u30fb\u7a0e\u52d9\u30fbIR<\/option>\n                                                <option value=\"12\">\u65bd\u5de5\u7ba1\u7406<\/option>\n                                                <option value=\"13\">\u8a2d\u8a08<\/option>\n                                                <option value=\"14\">\u4e0d\u52d5\u7523\u958b\u767a<\/option>\n                                                <option value=\"15\" selected>\u4e0d\u52d5\u7523AM<\/option>\n                                                <option value=\"16\">UI\/UX\u30c7\u30b6\u30a4\u30ca\u30fc<\/option>\n                                                <option value=\"17\">SE(\u30d5\u30ed\u30f3\u30c8)<\/option>\n                                                <option value=\"18\">SE(\u30d0\u30c3\u30af)<\/option>\n                                                <option value=\"19\">SE(\u30a4\u30f3\u30d5\u30e9)<\/option>\n                                                <option value=\"20\">\u30d7\u30ed\u30b8\u30a7\u30af\u30c8\u30de\u30cd\u30fc\u30b8\u30e3\u30fc<\/option>\n                                                <option value=\"21\">\u30c7\u30fc\u30bf\u30b5\u30a4\u30a8\u30f3\u30c6\u30a3\u30b9\u30c8<\/option>\n                                                <option value=\"22\">\u91d1\u878d\u5c02\u9580\u8077<\/option>\n                                                <option value=\"23\">\u7814\u7a76\u958b\u767a<\/option>\n                                                <option value=\"24\">\u751f\u7523\u7ba1\u7406<\/option>\n                                                <option value=\"25\">\u4e8b\u52d9(\u7dcf\u52d9)<\/option>\n                                                <option value=\"26\">\u30bb\u30fc\u30eb\u30b9\u30a8\u30f3\u30b8\u30cb\u30a2<\/option>\n                                            <\/select>\n                <\/div>\n            <\/div>\n            \n            \n            \n                    \n                        <p id=\"rm-jsf-notice-16608\" class=\"rm-jsf__notice\">\n            <span class=\"rm-jsf__notice-icon\" aria-hidden=\"true\">\u2139<\/span><span class=\"rm-jsf__notice-body\">\u30ea\u30e1\u30c7\u30a3\u304c\u6271\u3046<strong>\u30cf\u30a4\u30af\u30e9\u30b9\u306e\u975e\u516c\u958b\u30dd\u30b8\u30b7\u30e7\u30f3<\/strong>\u3092\u3001\u5e74\u53ce\u30fb\u8077\u7a2e\u3067\u7d5e\u308a\u8fbc\u3093\u3067\u78ba\u8a8d\u3067\u304d\u307e\u3059\u3002<br>\u7d4c\u6b74\u3092\u767b\u9332\u3055\u308c\u305f\u65b9\u306b\u306f\u3001\u5408\u81f4\u3059\u308b\u30dd\u30b8\u30b7\u30e7\u30f3\u306e\u30b9\u30ab\u30a6\u30c8\u304c\u5c4a\u304f\u3053\u3068\u3082\u3042\u308a\u307e\u3059\u3002<\/span>\n        <\/p>\n        \n                <input type=\"hidden\" name=\"utm_source\" value=\"remedy_media\">\n                <input type=\"hidden\" name=\"utm_medium\" value=\"article_form\">\n                <input type=\"hidden\" name=\"utm_campaign\" value=\"job\">\n                <input type=\"hidden\" name=\"utm_content\" value=\"post_16608\">\n                <input type=\"hidden\" name=\"utm_term\" value=\"re_fund\">\n                <input type=\"hidden\" name=\"rm_pos\" value=\"inline\">\n                <input type=\"hidden\" name=\"rm_variant\" value=\"v2\">\n                <input type=\"hidden\" name=\"rm_default\" value=\"\" data-fill=\"default\">\n                <input type=\"hidden\" name=\"rm_filter\" value=\"\" data-fill=\"filter\">\n        \n        <div class=\"rm-jsf__actions\">\n            <button type=\"submit\" class=\"rm-jsf__submit\" data-ds-button data-ds-button-variant=\"primary\"\n                aria-describedby=\"rm-jsf-notice-16608\"                aria-label=\"\u6c42\u4eba\u3092\u691c\u7d22\u3059\u308b\uff08\u5225\u30b5\u30a4\u30c8\u306b\u79fb\u52d5\uff09\">\u6c42\u4eba\u3092\u691c\u7d22\u3059\u308b<\/button>\n                        <small class=\"rm-jsf__submit-sub\">\u9077\u79fb\u5148\u3067\u5e74\u53ce\u30fb\u8077\u7a2e\u304b\u3089\u7d5e\u308a\u8fbc\u3081\u307e\u3059<\/small>\n                    <\/div>\n    <\/form>\n<\/div>\n        \n\n\n\n<h2 class=\"wp-block-heading\">\u524d\u8077\u5225\u306b\u3001\u8a08\u7b97\u8ad6\u70b9\u306e\u3069\u3053\u304b\u3089\u6e96\u5099\u3059\u308b\u304b<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">SMBC\u30ea\u30fc\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u306e\u8cc7\u7523\u53d6\u5f97\u306e\u52df\u96c6\u306f\u3001\u958b\u767a\u3001\u4ef2\u4ecb\u3001\u9280\u884c\u30fb\u4fe1\u8a17\u30fb\u8a3c\u5238\u306e\u4e0d\u52d5\u7523\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u696d\u52d9\u3092\u5fc5\u9808\u7d4c\u9a13\u306e\u5165\u53e3\u306b\u4e26\u3079\u3066\u3044\u307e\u3059\u3002\u5165\u53e3\u304c\u9055\u3048\u3070\u3001<b><span class=\"swl-marker mark_yellow\">\u8aac\u660e\u3092\u8db3\u3057\u305f\u3044\u8a08\u7b97<\/span><\/b>\u3082\u5909\u308f\u308a\u307e\u3059\u3002<\/p>\n\n\n<div class=\"c-scrollHint sp_\"><span>\u30b9\u30af\u30ed\u30fc\u30eb\u3067\u304d\u307e\u3059 <i class=\"icon-more_arrow\"><\/i><\/span><\/div>\n<figure data-table-scrollable=\"sp\" class=\"wp-block-table min_width20_\">\n<table style=\"--table-width:960px;\">\n<thead><tr><th>\u524d\u8077<\/th><th>\u52df\u96c6\u8981\u9805\u3067\u5165\u53e3\u3068\u3057\u3066\u6319\u304c\u308b\u4f8b<\/th><th>\u8a71\u3057\u3084\u3059\u3044\u8ad6\u70b9<\/th><th>\u8aac\u660e\u3092\u8db3\u3057\u305f\u3044\u8ad6\u70b9<\/th><th>\u6700\u521d\u306b\u7df4\u7fd2\u3059\u308b\u8868<\/th><\/tr><\/thead>\n<tbody>\n<tr><td>\u9280\u884c\u306e\u4e0d\u52d5\u7523\u878d\u8cc7<\/td><td>\u30ce\u30f3\u30ea\u30b3\u30fc\u30b9\u30ed\u30fc\u30f3\u696d\u52d9\uff08DBJ\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\uff09\u3001\u4e0d\u52d5\u7523\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u696d\u52d9\uff08SMBC\u30ea\u30fc\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\uff09<\/td><td>LTV\u3001DSCR\u3001\u8fd4\u6e08\u306e\u5b89\u5168\u6027<\/td><td>\u51fa\u53e3\u306e\u524d\u63d0\u3068\u30a8\u30af\u30a4\u30c6\u30a3IRR<\/td><td>LTV\u3068\u51fa\u53e3\u5229\u56de\u308a\u5225\u306eIRR\u8868<\/td><\/tr>\n<tr><td>\u30c7\u30d9\u30ed\u30c3\u30d1\u30fc<\/td><td>\u4e0d\u52d5\u7523\u958b\u767a\u696d\u52d9\uff08SMBC\u30ea\u30fc\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\uff09<\/td><td>\u4e8b\u696d\u53ce\u652f\u3001\u958b\u767a\u306e\u63a1\u7b97<\/td><td>NOI\u3068NCF\u306e\u5dee\u3001\u6700\u7d42\u9084\u5143\u5229\u56de\u308a<\/td><td>NOI\u30fbNCF\u306e\u8868\u3001\u5dee\u306e\u5206\u89e3\u8868<\/td><\/tr>\n<tr><td>\u58f2\u8cb7\u4ef2\u4ecb<\/td><td>\u4e0d\u52d5\u7523\u4ef2\u4ecb\u696d\u52d9\uff08SMBC\u30ea\u30fc\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\uff09\u3001\u58f2\u8cb7\u4ef2\u4ecb\u306e\u7d4c\u9a13\uff08\u30af\u30ea\u30a2\u30eb\uff09<\/td><td>\u53d6\u5f15\u4fa1\u683c\u3068\u5229\u56de\u308a\u306e\u95a2\u4fc2<\/td><td>\u4fdd\u6709\u671f\u9593\u4e2d\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3068DCF<\/td><td>\u5dee\u306e\u5206\u89e3\u8868<\/td><\/tr>\n<tr><td>\u4e0d\u52d5\u7523\u9451\u5b9a<\/td><td>\u6b53\u8fce\u8cc7\u683c\u306b\u4e0d\u52d5\u7523\u9451\u5b9a\u58eb\uff08\u30af\u30ea\u30a2\u30eb\u3001DBJ\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u3001\u30de\u30ea\u30e2\u30fb\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u306e\u6295\u8cc7\u90e8\u30a2\u30af\u30a4\u30b8\u30b7\u30e7\u30f3\uff09<\/td><td>\u9805\u76ee\u306e\u5b9a\u7fa9\u3001\u76f4\u63a5\u9084\u5143\u6cd5\u3068DCF<\/td><td>\u501f\u5165\u3092\u5165\u308c\u305f\u30a8\u30af\u30a4\u30c6\u30a3IRR<\/td><td>LTV\u306e\u8868<\/td><\/tr>\n<tr><td>PM<\/td><td>\u8cc3\u8cb8\u4e0d\u52d5\u7523\u306e\u30d7\u30ed\u30d1\u30c6\u30a3\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u696d\u52d9\uff08SMBC\u30ea\u30fc\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u306e\u8cc7\u7523\u904b\u7528\uff09<\/td><td>NOI\u306e\u4e2d\u8eab\u3001\u4fee\u7e55\u3068Capex\u306e\u8a08\u753b<\/td><td>\u4fa1\u683c\u3078\u306e\u63db\u7b97\u3068\u501f\u5165<\/td><td>\u30ad\u30e3\u30c3\u30d7\u30ec\u30fc\u30c8\u306e\u611f\u5fdc\u5ea6\u8868<\/td><\/tr>\n<\/tbody>\n<\/table>\n<figcaption class=\"wp-element-caption\">\u51fa\u6240\uff1a\u5404\u793e\u306e\u516c\u5f0f\u63a1\u7528\u30da\u30fc\u30b8\u3092\u3082\u3068\u306b\u30ea\u30e1\u30c7\u30a3\u306e\u898b\u89e3\u3068\u3057\u3066\u4f5c\u6210<\/figcaption>\n<\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">ARES\u306e\u7528\u8a9e\u96c6\u3067\u306f\u3001LTV\u3068DSCR\u306f\u501f\u5165\u91d1\u8fd4\u6e08\u306e\u5b89\u5168\u5ea6\u3092\u6e2c\u308b\u5c3a\u5ea6\u3067\u3059\u3002\u3053\u3053\u306f\u30ea\u30e1\u30c7\u30a3\u306e\u898b\u89e3\u3067\u3059\u304c\u3001\u878d\u8cc7\u306e\u7d4c\u9a13\u304c\u3042\u308b\u4eba\u307b\u3069\u540c\u3058\u8868\u3092\u6295\u8cc7\u5bb6\u306e\u5074\u304b\u3089\u8aad\u307f\u76f4\u3057\u3001<b><span class=\"swl-marker mark_yellow\">\u30a8\u30af\u30a4\u30c6\u30a3\u304c\u3069\u308c\u3060\u3051\u6e1b\u308b\u304b<\/span><\/b>\u307e\u3067\u8a71\u3059\u7df4\u7fd2\u3092\u3059\u308b\u3068\u3001\u53d6\u5f97\u8077\u306e\u8aac\u660e\u306b\u8fd1\u3065\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">SMBC\u30ea\u30fc\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u306e\u8cc7\u7523\u904b\u7528\u306e\u52df\u96c6\u306f\u3001\u8cc3\u8cb8\u4e0d\u52d5\u7523\u306ePM\u696d\u52d9\u3092\u5fc5\u9808\u7d4c\u9a13\u306e\u4e00\u3064\u306b\u6319\u3052\u3001\u4fee\u7e55\u53ca\u3073Capex\u8a08\u753b\u306e\u7acb\u6848\u3084\u53ce\u652f\u8a08\u753b\u306e\u7acb\u6848\u30fb\u7ba1\u7406\u3092\u8077\u52d9\u306b\u3057\u3066\u3044\u307e\u3059\u3002PM\u51fa\u8eab\u306e\u4eba\u306f\u3001NOI\u306e\u4e2d\u8eab\u3092\u5177\u4f53\u7684\u306b\u8a71\u305b\u308b\u5f37\u307f\u3092\u3001\u4fa1\u683c\u3078\u306e\u63db\u7b97\u307e\u3067\u5ef6\u3070\u3059\u306e\u304c\u8fd1\u9053\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u8077\u52d9\u7d4c\u6b74\u66f8\u306b\u306f\u3001\u8a08\u7b97\u3067\u5224\u65ad\u3092\u5909\u3048\u305f\u5834\u9762\u3092\u66f8\u304f<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u8077\u52d9\u7d4c\u6b74\u66f8\u306b\u306f\u3001\u524d\u63d0\u3092\u5909\u3048\u3066\u7d50\u8ad6\u304c\u5909\u308f\u3063\u305f\u5834\u9762\u3092\u3001<b><span class=\"swl-marker mark_yellow\">\u81ea\u5206\u306e\u62c5\u5f53\u7bc4\u56f2\u3068\u3042\u308f\u305b\u3066<\/span><\/b>\u66f8\u3044\u3066\u304a\u304d\u307e\u3059\u3002\u9762\u63a5\u3067\u8a08\u7b97\u3092\u6ed1\u3089\u304b\u306b\u8aac\u660e\u3067\u304d\u3066\u3082\u3001\u66f8\u985e\u306e\u5b9f\u52d9\u3068\u7d50\u3073\u4ed8\u304b\u306a\u3051\u308c\u3070\u3001\u81ea\u5206\u306e\u7d4c\u9a13\u3068\u3057\u3066\u4f1d\u308f\u308a\u306b\u304f\u3044\u304b\u3089\u3067\u3059\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u878d\u8cc7\u6761\u4ef6\u3092\u898b\u76f4\u3057\u305f\u5834\u9762\uff08LTV\u3084\u8fd4\u6e08\u6761\u4ef6\u3092\u3069\u3046\u5909\u3048\u305f\u304b\uff09<\/li>\n<li>\u958b\u767a\u306e\u4e8b\u696d\u53ce\u652f\u3092\u7d44\u307f\u76f4\u3057\u305f\u5834\u9762\uff08\u8cc3\u6599\u3084\u8cbb\u7528\u306e\u524d\u63d0\u306e\u7f6e\u304d\u76f4\u3057\uff09<\/li>\n<li>\u67fb\u5b9a\u3084\u9451\u5b9a\u306e\u4fa1\u683c\u3092\u4fee\u6b63\u3057\u305f\u5834\u9762\uff08\u898b\u7acb\u3066\u3092\u5909\u3048\u305f\u9805\u76ee\u3068\u305d\u306e\u7406\u7531\uff09<\/li>\n<li>\u4fee\u7e55\u8a08\u753b\u3092\u5909\u3048\u305f\u5834\u9762\uff08\u4fee\u7e55\u8cbb\u3068\u8cc7\u672c\u7684\u652f\u51fa\u306e\u533a\u5206\u3092\u3069\u3046\u5224\u65ad\u3057\u305f\u304b\uff09<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u91d1\u984d\u306f\u6240\u5c5e\u5148\u306e\u898f\u7a0b\u3067\u958b\u793a\u3067\u304d\u308b\u7bc4\u56f2\u306b\u3068\u3069\u3081\u3001\u67b6\u7a7a\u306e\u6570\u5b57\u3067\u5b9f\u7e3e\u3092\u57cb\u3081\u306a\u3044\u3067\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u4eca\u5fdc\u52df\u3059\u308b\u304b\u3001\u671f\u4e2dAM\u304b\u3089\u5165\u308b\u304b\u3001\u5b66\u7fd2\u3092\u5148\u306b\u3059\u308b\u304b<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u5fdc\u52df\u65b9\u91dd\u306f\u3001\u672c\u8a18\u4e8b\u306e4\u3064\u306e\u8868\uff08NOI\u30fbNCF\u3068\u4fa1\u683c\u3001\u30ad\u30e3\u30c3\u30d7\u30ec\u30fc\u30c8\u306e\u611f\u5fdc\u5ea6\u3001DCF\u306e\u5dee\u306e\u5206\u89e3\u3001LTV\u3068\u51fa\u53e3\u5229\u56de\u308a\u5225\u306eIRR\uff09\u3092\u3001<b><span class=\"swl-marker mark_yellow\">\u524d\u63d0\u304b\u3089\u53e3\u982d\u3067\u8aac\u660e\u3067\u304d\u308b\u304b<\/span><\/b>\u3067\u5206\u3051\u307e\u3059\u3002<\/p>\n\n\n<div class=\"c-scrollHint sp_\"><span>\u30b9\u30af\u30ed\u30fc\u30eb\u3067\u304d\u307e\u3059 <i class=\"icon-more_arrow\"><\/i><\/span><\/div>\n<figure data-table-scrollable=\"sp\" class=\"wp-block-table min_width20_\">\n<table style=\"--table-width:900px;\">\n<thead><tr><th>\u5fdc\u52df\u65b9\u91dd<\/th><th>\u5f53\u3066\u306f\u307e\u308b\u72b6\u614b<\/th><th>\u6b21\u306b\u3084\u308b\u3053\u3068<\/th><th>\u52df\u96c6\u8981\u9805\u3067\u78ba\u8a8d\u3059\u308b\u8a18\u8f09<\/th><\/tr><\/thead>\n<tbody>\n<tr><td>(a) \u53d6\u5f97\u8077\u306b\u4eca\u5fdc\u52df\u3059\u308b<\/td><td>4\u3064\u306e\u8868\u3092\u3001\u524d\u63d0\u3092\u5909\u3048\u305f\u5834\u5408\u3082\u542b\u3081\u3066\u53e3\u982d\u3067\u8aac\u660e\u3067\u304d\u308b<\/td><td>\u81ea\u5206\u306e\u6848\u4ef6\u3067\u540c\u3058\u8868\u30921\u679a\u4f5c\u308a\u3001\u8077\u52d9\u7d4c\u6b74\u66f8\u3068\u6570\u5b57\u306e\u8aac\u660e\u3092\u305d\u308d\u3048\u308b<\/td><td>\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u5206\u6790\u3001\u6295\u8cc7\u63a1\u7b97\u6027\u3001\u6295\u8cc7\u59d4\u54e1\u4f1a\u8cc7\u6599\u306a\u3069\u306e\u8077\u52d9\u306e\u7bc4\u56f2<\/td><\/tr>\n<tr><td>(b) \u671f\u4e2dAM\u304b\u3089\u5165\u3063\u3066\u53d6\u5f97\u3092\u76ee\u6307\u3059<\/td><td>NOI\u3084\u4fee\u7e55\u30fb\u8cc7\u672c\u7684\u652f\u51fa\u306e\u5b9f\u52d9\u306f\u3042\u308b\u304c\u3001\u4fa1\u683c\u3078\u306e\u63db\u7b97\u3084\u501f\u5165\u3092\u5165\u308c\u305fIRR\u306e\u7d4c\u9a13\u304c\u5c11\u306a\u3044<\/td><td>\u671f\u4e2dAM\u306e\u6c42\u4eba\u3067\u3001\u53d6\u5f97\u696d\u52d9\u3068\u306e\u517c\u52d9\u3084\u30ed\u30fc\u30c6\u30fc\u30b7\u30e7\u30f3\u306e\u8a18\u8f09\u3092\u63a2\u3059<\/td><td>\u7dcf\u5408\u8077\u63a1\u7528\u30fb\u30b8\u30e7\u30d6\u30ed\u30fc\u30c6\u30fc\u30b7\u30e7\u30f3\u3001AM\u3068\u53d6\u5f97\u306e\u517c\u52d9<\/td><\/tr>\n<tr><td>(c) \u5b66\u7fd2\u3092\u5148\u306b\u3057\u3066\u304b\u3089\u5fdc\u52df\u3059\u308b<\/td><td>NOI\u3068NCF\u306e\u5b9a\u7fa9\u3084\u3001\u9084\u5143\u5229\u56de\u308a\u3068\u5272\u5f15\u7387\u306e\u9055\u3044\u3092\u8aac\u660e\u3067\u304d\u306a\u3044<\/td><td>\u4e0d\u52d5\u7523\u9451\u5b9a\u8a55\u4fa1\u57fa\u6e96\u3068\u904b\u7528\u4e0a\u306e\u7559\u610f\u4e8b\u9805\u3001ARES\u306e\u7528\u8a9e\u96c6\u3067\u5b9a\u7fa9\u3092\u56fa\u3081\u3001\u6570\u5024\u4f8b\u3092\u81ea\u5206\u3067\u518d\u8a08\u7b97\u3059\u308b<\/td><td>\u6b53\u8fce\u8cc7\u683c\uff08ARES\u8a8d\u5b9a\u30de\u30b9\u30bf\u30fc\u3001\u4e0d\u52d5\u7523\u9451\u5b9a\u58eb\u306a\u3069\uff09<\/td><\/tr>\n<\/tbody>\n<\/table>\n<figcaption class=\"wp-element-caption\">\u51fa\u6240\uff1a\u5404\u793e\u306e\u516c\u5f0f\u63a1\u7528\u30da\u30fc\u30b8\u3001\u56fd\u571f\u4ea4\u901a\u7701\u300c\u4e0d\u52d5\u7523\u9451\u5b9a\u8a55\u4fa1\u57fa\u6e96\u300d\u3092\u3082\u3068\u306b\u30ea\u30e1\u30c7\u30a3\u306e\u898b\u89e3\u3068\u3057\u3066\u4f5c\u6210<\/figcaption>\n<\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">(b)\u3092\u9078\u3076\u624b\u304c\u304b\u308a\u306b\u306a\u308b\u8a18\u8f09\u306f\u3001\u6b21\u306e2\u793e\u306b\u3042\u308a\u307e\u3057\u305f\u3002\u5927\u548c\u30cf\u30a6\u30b9\u30fb\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u306f\u7dcf\u5408\u8077\u3067\u63a1\u7528\u3057\u3001\u6570\u5e74\u306e\u7d4c\u9a13\u5f8c\u306b\u9069\u5b9c\u30b8\u30e7\u30d6\u30ed\u30fc\u30c6\u30fc\u30b7\u30e7\u30f3\u3092\u884c\u3046\u3068\u3057\u3066\u3044\u307e\u3059\u3002\u5927\u540c\u751f\u547d\u4fdd\u967a\u306e\u4e0d\u52d5\u7523AM\u306e\u52df\u96c6\u306f\u3001\u4fdd\u6709\u4e0d\u52d5\u7523\u306e\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u3068\u30a2\u30af\u30a4\u30b8\u30b7\u30e7\u30f3\u3092<b><span class=\"swl-marker mark_yellow\">\u540c\u3058\u62c5\u5f53\u304c\u62c5\u3046\u5185\u5bb9<\/span><\/b>\u3067\u3059\u3002<\/p>\n\n\n\n<p 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mark_yellow\">\u5b9a\u7fa9\u3067\u8a70\u307e\u3063\u305f\u306a\u3089(c)<\/span><\/b>\u3001\u4fa1\u683c\u3078\u306e\u63db\u7b97\u3084\u501f\u5165\u306e\u8aac\u660e\u3067\u8a70\u307e\u3063\u305f\u306a\u3089(b)\u3082\u4e26\u3079\u3066\u6bd4\u3079\u308b\u3001\u3068\u3044\u3046\u5206\u3051\u65b9\u3067\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u5b66\u7fd2\u306e\u76ee\u5b89\u3068\u3057\u3066\u3001\u30af\u30ea\u30a2\u30eb\u3001DBJ\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u3001SMBC\u30ea\u30fc\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u3001\u30de\u30ea\u30e2\u30fb\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\uff08\u6295\u8cc7\u90e8\u30a2\u30af\u30a4\u30b8\u30b7\u30e7\u30f3\uff09\u306e\u52df\u96c6\u8981\u9805\u306f\u3001ARES\u8a8d\u5b9a\u30de\u30b9\u30bf\u30fc\uff08\u4e0d\u52d5\u7523\u8a3c\u5238\u5316\u5354\u4f1a\u8a8d\u5b9a\u30de\u30b9\u30bf\u30fc\uff09\u3092\u6b53\u8fce\u8981\u4ef6\u306b\u6319\u3052\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u53d6\u5f97\u8077\u304c\u5408\u3046\u306e\u306f\u3001\u524d\u63d0\u3092\u52d5\u304b\u3057\u3066\u4fa1\u683c\u3084IRR\u306e\u5909\u5316\u3092\u78ba\u304b\u3081\u308b\u4f5c\u696d\u3092\u3001\u81ea\u5206\u306e\u624b\u3067\u56de\u3057\u305f\u3044\u4eba\u3067\u3059\u3002\u4e00\u65b9\u3067\u3001\u7269\u4ef6\u60c5\u5831\u3092\u96c6\u3081\u308b\u55b6\u696d\u306b\u5f37\u307f\u304c\u3042\u308a\u8a08\u7b97\u306e\u8aac\u660e\u306f\u5206\u62c5\u3057\u305f\u3044\u4eba\u306f\u3001\u30af\u30ea\u30a2\u30eb\u306e\u3088\u3046\u306b<b><span class=\"swl-marker mark_yellow\">\u55b6\u696d\u306e\u529b\u3068\u6570\u5b57\u306e\u529b\u3092\u5206\u3051\u3066<\/span><\/b>\u5fdc\u52df\u8981\u4ef6\u3092\u66f8\u304f\u6c42\u4eba\u304b\u3089\u9078\u3076\u307b\u3046\u304c\u3001\u5f37\u307f\u3092\u51fa\u3057\u3084\u3059\u3044\u3067\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u671f\u4e2dAM\u306e\u4ed5\u4e8b\u3068\u6c42\u4eba\u306e\u9078\u3073\u65b9\u306f<a href=\"https:\/\/remedy-tokyo.co.jp\/media\/14577\/\">\u4e0d\u52d5\u7523\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30fc\u30b8\u30e3\u30fc\u3078\u306e\u8ee2\u8077<\/a>\u3001\u53d6\u5f97\u3068\u671f\u4e2d\u306e\u9055\u3044\u306f<a href=\"https:\/\/remedy-tokyo.co.jp\/media\/15064\/\">\u4e0d\u52d5\u7523AM\u306e\u30a2\u30af\u30a4\u30b8\u30b7\u30e7\u30f3\u3068\u671f\u4e2d\u904b\u7528\u306e\u6bd4\u8f03<\/a>\u3067\u8a73\u3057\u304f\u6271\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u9762\u63a5\u524d\u306b\u6e96\u5099\u3059\u308b\u8cc7\u6599\u3068\u3001\u76f8\u8ac7\u3057\u305f\u65b9\u304c\u65e9\u3044\u30b1\u30fc\u30b9<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">\u9762\u63a5\u306e\u524d\u306b\u7528\u610f\u3057\u305f\u3044\u306e\u306f\u3001\u81ea\u5206\u3067\u518d\u8a08\u7b97\u3057\u305f\u6570\u5024\u4f8b1\u679a\u3068\u3001<b><span class=\"swl-marker mark_yellow\">\u611f\u5fdc\u5ea6\u3092\u53e3\u982d\u3067\u8a00\u3046\u305f\u3081\u306e\u77ed\u3044\u30e1\u30e2<\/span><\/b>\u3067\u3059\u3002\u3053\u3053\u307e\u3067\u306f\u4e00\u4eba\u3067\u9032\u3081\u3089\u308c\u308b\u6e96\u5099\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u81ea\u5206\u3067\u9032\u3081\u3066\u3088\u3044\u6e96\u5099<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u672c\u8a18\u4e8b\u306e\u6570\u5024\u4f8b\u3092\u3001\u96fb\u5353\u304bExcel\u3067\u4e00\u5ea6\u81ea\u5206\u3067\u518d\u8a08\u7b97\u3059\u308b<\/li>\n<li>\u524d\u8077\u3067\u6271\u3063\u305f\u6848\u4ef6\u306e\u898f\u6a21\u306b\u7f6e\u304d\u63db\u3048\u3001NOI\u3001NCF\u3001\u4fa1\u683c\u306e\u9806\u306b\u7df4\u7fd2\u7528\u306e1\u679a\u306b\u307e\u3068\u3081\u308b\uff08\u5b88\u79d8\u306b\u89e6\u308c\u308b\u6570\u5b57\u306f\u67b6\u7a7a\u306b\u7f6e\u304d\u63db\u3048\u308b\uff09<\/li>\n<li>\u30ad\u30e3\u30c3\u30d7\u30ec\u30fc\u30c8\u3001\u51fa\u53e3\u306e\u5229\u56de\u308a\u3001LTV\u3092\u52d5\u304b\u3057\u305f\u3068\u304d\u306e\u5411\u304d\u3068\u5e45\u3092\u3001\u8868\u3092\u898b\u305a\u306b\u8a00\u3046\u7df4\u7fd2\u3092\u3059\u308b<\/li>\n<li>\u4e0d\u52d5\u7523\u9451\u5b9a\u8a55\u4fa1\u57fa\u6e96\u306e\u53ce\u76ca\u8cbb\u7528\u9805\u76ee\u3068\u3001\u9084\u5143\u5229\u56de\u308a\u30fb\u5272\u5f15\u7387\u306e\u5b9a\u7fa9\u3092\u8aad\u307f\u76f4\u3059<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u8868\u3092\u898b\u305a\u306b\u524d\u63d0\u3068\u5411\u304d\u3092\u8a00\u3048\u308b\u3088\u3046\u306b\u306a\u308c\u3070\u3001\u8a08\u7b97\u9762\u306e\u6e96\u5099\u306f<b><span class=\"swl-marker mark_yellow\">\u9762\u63a5\u3067\u4f7f\u3048\u308b\u6bb5\u968e<\/span><\/b>\u306b\u5165\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u76f8\u8ac7\u3057\u305f\u65b9\u304c\u65e9\u3044\u30b1\u30fc\u30b9<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u5fdc\u52df\u5148\u306b\u8a08\u7b97\u8ab2\u984c\u304c\u3042\u308b\u304b\u3001\u3069\u306e\u5f62\u5f0f\u304b\u304c\u5206\u304b\u3089\u306a\u3044<\/li>\n<li>\u53d6\u5f97\u8077\u3068\u671f\u4e2dAM\u306e\u3069\u3061\u3089\u306e\u6c42\u4eba\u306b\u51fa\u3059\u304b\u3092\u6c7a\u3081\u304d\u308c\u306a\u3044<\/li>\n<li>\u8077\u52d9\u7d4c\u6b74\u66f8\u306b\u66f8\u3044\u305f\u5b9f\u52d9\u3068\u3001\u9762\u63a5\u3067\u8a71\u3059\u8a08\u7b97\u306e\u8aac\u660e\u304c\u3064\u306a\u304c\u3089\u306a\u3044<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">\u6c42\u4eba\u3054\u3068\u306e\u9078\u8003\u5f62\u5f0f\u3084\u62c5\u5f53\u7bc4\u56f2\u306f\u3001\u516c\u958b\u60c5\u5831\u3060\u3051\u3067\u306f\u5206\u304b\u3089\u306a\u3044\u3053\u3068\u304c\u3042\u308a\u307e\u3059\u3002\u76f8\u8ac7\u5148\u306e\u9078\u3073\u65b9\u306f\u3001<a href=\"https:\/\/remedy-tokyo.co.jp\/media\/14614\/\">\u4e0d\u52d5\u7523\u30d5\u30a1\u30f3\u30c9\u306b\u5f37\u3044\u8ee2\u8077\u30a8\u30fc\u30b8\u30a7\u30f3\u30c8\u306e\u9078\u3073\u65b9<\/a>\u3067\u3001<b><span class=\"swl-marker mark_yellow\">\u9762\u8ac7\u3067\u4f7f\u3048\u308b\u78ba\u8a8d\u306e\u8cea\u554f<\/span><\/b>\u3068\u3042\u308f\u305b\u3066\u89e3\u8aac\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u5019\u88dc\u306e\u6c42\u4eba\u3092\u6301\u3061\u5bc4\u308c\u3070\u3001\u3069\u306e\u6c42\u4eba\u304b\u3089\u6e96\u5099\u3092\u9032\u3081\u308b\u304b\u3084\u3001\u8077\u52d9\u7d4c\u6b74\u66f8\u306e\u3069\u306e\u5834\u9762\u3092\u9762\u63a5\u306e\u6570\u5024\u4f8b\u306b\u4f7f\u3046\u304b\u3092\u3001\u4e0d\u52d5\u7523\u9818\u57df\u3092\u62c5\u5f53\u3059\u308b\u30a8\u30fc\u30b8\u30a7\u30f3\u30c8\u3068\u4e00\u7dd2\u306b\u6c7a\u3081\u3089\u308c\u307e\u3059\u3002<\/p>\n\n\n<aside class=\"rmar\" aria-label=\"\u3053\u306e\u9818\u57df\u306e\u8ee2\u8077\u30a8\u30fc\u30b8\u30a7\u30f3\u30c8\u3078\u306e\u76f8\u8ac7\" data-cta-id=\"agent_reservation_v2\" data-cta-variant=\"akito-inoue,kodai-suzuki,raiki-kawasaki\" data-cta-position=\"s4_pre_faq\" data-pid=\"16608\"><header class=\"rmar__header\"><h2 class=\"rmar__title\">\u3053\u306e\u9818\u57df\u306e\u8ee2\u8077\u30a8\u30fc\u30b8\u30a7\u30f3\u30c8<\/h2><p class=\"rmar__note\">\u7d4c\u6b74\u3084\u652f\u63f4\u9818\u57df\u304b\u3089\u3001\u76f8\u8ac7\u3057\u305f\u3044\u62c5\u5f53\u8005\u3092\u304a\u9078\u3073\u304f\u3060\u3055\u3044\u3002<\/p><\/header><div class=\"rmar__grid\"><article class=\"rmar__card\" data-agent=\"akito-inoue\" data-rank=\"1\" data-route-source=\"shortcode_industry\" data-route-industry=\"real_estate\"><div class=\"rmar__portrait\"><img src=\"https:\/\/remedy-tokyo.co.jp\/assets\/imgs-optimized\/portrait-12-640w-599bb9bf3cab40c39d8c2f690c58bfa6.webp\" alt=\"\u4e95\u4e0a \u6676\u6597\u306e\u30d7\u30ed\u30d5\u30a3\u30fc\u30eb\u5199\u771f\" width=\"640\" height=\"800\" loading=\"lazy\" decoding=\"async\"><\/div><div class=\"rmar__body\"><h3 class=\"rmar__name\">\u4e95\u4e0a \u6676\u6597<\/h3><ul class=\"rmar__areas\" aria-label=\"\u4e95\u4e0a \u6676\u6597\u306e\u4e3b\u306a\u652f\u63f4\u9818\u57df\"><li>M&amp;A<\/li><li>\u4e0d\u52d5\u7523<\/li><\/ul><p class=\"rmar__profile\">\u4eba\u6750\u7d39\u4ecb\u4f1a\u793e\u3067\u306e\u30ad\u30e3\u30ea\u30a2\u652f\u63f4\u3092\u7d4c\u3066\u3001M&amp;A\u30fb\u4e0d\u52d5\u7523\u30fb\u5efa\u8a2d\u9818\u57df\u306e\u8ee2\u8077\u3092\u652f\u63f4\u3002<\/p><a class=\"rmar__button\" href=\"https:\/\/remedy-search.com\/career-consultation-booking?agent=akito-inoue&#038;utm_source=organic&#038;utm_medium=media&#038;utm_campaign=agent_reservation&#038;utm_content=post_16608&#038;rm_cta_type=agent_reservation&#038;rm_pos=s4_pre_faq&#038;rm_rank=1\" rel=\"nofollow\" aria-label=\"\u4e95\u4e0a \u6676\u6597\u306e\u7a7a\u304d\u65e5\u7a0b\u3092\u78ba\u8a8d\" data-agent=\"akito-inoue\" data-rank=\"1\">\u7a7a\u304d\u65e5\u7a0b\u3092\u78ba\u8a8d<span aria-hidden=\"true\">\u2192<\/span><\/a><\/div><\/article><article class=\"rmar__card\" data-agent=\"kodai-suzuki\" data-rank=\"2\" data-route-source=\"shortcode_industry\" data-route-industry=\"real_estate\"><div class=\"rmar__portrait\"><img src=\"https:\/\/images.microcms-assets.io\/assets\/90ffe43c7ed14f9bb36580f8e7198813\/7c0fdfb162ea4bbc85f62b50fa4dbcb0\/article-17-1.webp\" alt=\"\u9234\u6728 \u5b8f\u5927\u306e\u30d7\u30ed\u30d5\u30a3\u30fc\u30eb\u5199\u771f\" width=\"640\" height=\"800\" loading=\"lazy\" decoding=\"async\"><\/div><div class=\"rmar__body\"><h3 class=\"rmar__name\">\u9234\u6728 \u5b8f\u5927<\/h3><ul class=\"rmar__areas\" aria-label=\"\u9234\u6728 \u5b8f\u5927\u306e\u4e3b\u306a\u652f\u63f4\u9818\u57df\"><li>M&amp;A<\/li><li>\u91d1\u878d<\/li><\/ul><p class=\"rmar__profile\">\u4e09\u4e95\u4f4f\u53cb\u6d77\u4e0a\u3067\u6cd5\u4eba\u55b6\u696d\u3092\u7d4c\u9a13\u3002M&amp;A\u30fb\u91d1\u878d\u30fb\u4e0d\u52d5\u7523\u9818\u57df\u3092\u4e2d\u5fc3\u306b\u652f\u63f4\u3002<\/p><a class=\"rmar__button\" href=\"https:\/\/remedy-search.com\/career-consultation-booking?agent=kodai-suzuki&#038;utm_source=organic&#038;utm_medium=media&#038;utm_campaign=agent_reservation&#038;utm_content=post_16608&#038;rm_cta_type=agent_reservation&#038;rm_pos=s4_pre_faq&#038;rm_rank=2\" rel=\"nofollow\" aria-label=\"\u9234\u6728 \u5b8f\u5927\u306e\u7a7a\u304d\u65e5\u7a0b\u3092\u78ba\u8a8d\" data-agent=\"kodai-suzuki\" data-rank=\"2\">\u7a7a\u304d\u65e5\u7a0b\u3092\u78ba\u8a8d<span aria-hidden=\"true\">\u2192<\/span><\/a><\/div><\/article><article class=\"rmar__card\" data-agent=\"raiki-kawasaki\" data-rank=\"3\" data-route-source=\"shortcode_industry\" data-route-industry=\"real_estate\"><div class=\"rmar__portrait\"><img src=\"https:\/\/remedy-tokyo.co.jp\/assets\/imgs-optimized\/portrait-22-640w-c3269b67b2f4483391a0a49f87e12403.webp\" alt=\"\u5ddd\ufa11 \u6765\u6a39\u306e\u30d7\u30ed\u30d5\u30a3\u30fc\u30eb\u5199\u771f\" width=\"640\" height=\"800\" loading=\"lazy\" decoding=\"async\"><\/div><div class=\"rmar__body\"><h3 class=\"rmar__name\">\u5ddd\ufa11 \u6765\u6a39<\/h3><ul class=\"rmar__areas\" aria-label=\"\u5ddd\ufa11 \u6765\u6a39\u306e\u4e3b\u306a\u652f\u63f4\u9818\u57df\"><li>M&amp;A\u30fb\u30b3\u30f3\u30b5\u30eb<\/li><li>\u4e0d\u52d5\u7523\u30fb\u5efa\u8a2d<\/li><\/ul><p class=\"rmar__profile\">\u30ea\u30af\u30eb\u30fc\u30c8\u3067\u4e0d\u52d5\u7523\u30fb\u6559\u80b2\u9818\u57df\u306e\u55b6\u696d\u3068\u30de\u30fc\u30b1\u30c6\u30a3\u30f3\u30b0\u3092\u7d4c\u9a13\u3002M&amp;A\u30fb\u30b3\u30f3\u30b5\u30eb\u3001\u4e0d\u52d5\u7523\u30fb\u5efa\u8a2d\u3001\u30e1\u30ac\u30d9\u30f3\u30c1\u30e3\u30fc\u9818\u57df\u3092\u652f\u63f4\u3002<\/p><a class=\"rmar__button\" href=\"https:\/\/remedy-search.com\/career-consultation-booking?agent=raiki-kawasaki&#038;utm_source=organic&#038;utm_medium=media&#038;utm_campaign=agent_reservation&#038;utm_content=post_16608&#038;rm_cta_type=agent_reservation&#038;rm_pos=s4_pre_faq&#038;rm_rank=3\" rel=\"nofollow\" aria-label=\"\u5ddd\ufa11 \u6765\u6a39\u306e\u7a7a\u304d\u65e5\u7a0b\u3092\u78ba\u8a8d\" data-agent=\"raiki-kawasaki\" data-rank=\"3\">\u7a7a\u304d\u65e5\u7a0b\u3092\u78ba\u8a8d<span aria-hidden=\"true\">\u2192<\/span><\/a><\/div><\/article><\/div><\/aside>\n\n\n\n<h2 class=\"wp-block-heading\">\u4e0d\u52d5\u7523\u30d5\u30a1\u30f3\u30c9\u306eDCF\u9762\u63a5\u3067\u3088\u304f\u3042\u308b\u8cea\u554f<\/h2>\n\n\n\n<div class=\"swell-block-faq is-style-default\" data-q=\"fill-main\" data-a=\"col-main\">\n\n<div class=\"swell-block-faq__item\">\n<h3 class=\"faq_q\">Excel\u3067\u30e2\u30c7\u30eb\u3092\u4f5c\u308b\u8ab2\u984c\u306f\u51fa\u307e\u3059\u304b<\/h3>\n<div class=\"faq_a\">\n<p class=\"wp-block-paragraph\">\u52df\u96c6\u8981\u9805\u3060\u3051\u3067\u306f\u5224\u65ad\u3067\u304d\u307e\u305b\u3093\u3002\u78ba\u304b\u3081\u65b9\u306f\u3001\u8a18\u4e8b\u524d\u534a\u306e\u300c\u8a08\u7b97\u8ab2\u984c\u306e\u6709\u7121\u306f\u3001\u5fdc\u52df\u5148\u3054\u3068\u306b\u78ba\u8a8d\u3059\u308b\u300d\u3067\u6271\u3063\u3066\u3044\u307e\u3059\u3002\u7df4\u7fd2\u3067IRR\u3092\u51fa\u3059\u5834\u5408\u306f\u3001<b><span class=\"swl-marker mark_yellow\">Excel\u306eIRR\u95a2\u6570<\/span><\/b>\u3092\u4f7f\u3044\u307e\u3059\u3002ARES\u306e\u7528\u8a9e\u96c6\u3082\u3001IRR\u306f\u3053\u306e\u95a2\u6570\u3067\u6c42\u3081\u308b\u3053\u3068\u304c\u591a\u3044\u3068\u8aac\u660e\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n<\/div>\n<\/div>\n\n\n\n<div class=\"swell-block-faq__item\">\n<h3 class=\"faq_q\">IRR\u3092\u6697\u7b97\u3067\u51fa\u305b\u306a\u3044\u3068\u4e0d\u5229\u3067\u3059\u304b<\/h3>\n<div class=\"faq_a\">\n<p class=\"wp-block-paragraph\">\u6697\u7b97\u306e\u6b63\u78ba\u3055\u304c\u3069\u3053\u307e\u3067\u898b\u3089\u308c\u308b\u304b\u306f\u3001\u78ba\u8a8d\u3057\u305f\u52df\u96c6\u8981\u9805\u304b\u3089\u306f\u5206\u304b\u308a\u307e\u305b\u3093\u3002\u6e96\u5099\u3067\u512a\u5148\u3057\u305f\u3044\u306e\u306f\u3001\u524d\u63d0\u3092\u52d5\u304b\u3057\u305f\u3068\u304d\u306bIRR\u304c\u4e0a\u304c\u308b\u304b\u4e0b\u304c\u308b\u304b\u3092\u5148\u306b\u8a00\u3048\u308b\u3053\u3068\u3067\u3059\u3002\u672c\u8a18\u4e8b\u306eLTV\u306e\u8868\u306e\u3088\u3046\u306b<b><span class=\"swl-marker mark_yellow\">\u501f\u5165\u306e\u52b9\u679c\u304c\u9006\u8ee2\u3059\u308b\u5834\u9762<\/span><\/b>\u3092\u8aac\u660e\u3067\u304d\u308c\u3070\u3001\u7d30\u304b\u3044\u6570\u5b57\u306f\u96fb\u5353\u3084Excel\u3067\u78ba\u304b\u3081\u306a\u304c\u3089\u8a71\u3092\u9032\u3081\u3089\u308c\u307e\u3059\u3002<\/p>\n<\/div>\n<\/div>\n\n\n\n<div class=\"swell-block-faq__item\">\n<h3 class=\"faq_q\">IRR\u306fNOI\u3068NCF\u306e\u3069\u3061\u3089\u3067\u8a08\u7b97\u3057\u307e\u3059\u304b<\/h3>\n<div class=\"faq_a\">\n<p class=\"wp-block-paragraph\">\u3069\u3061\u3089\u304b\u4e00\u65b9\u306b\u6c7a\u307e\u3063\u3066\u3044\u308b\u308f\u3051\u3067\u306f\u306a\u3044\u306e\u3067\u3001\u8a08\u7b97\u306b\u4f7f\u3063\u305f\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u3092\u6dfb\u3048\u3066\u7b54\u3048\u307e\u3059\u3002ARES\u306e\u7528\u8a9e\u96c6\u306fNOI\u3092\u4f7f\u3063\u3066IRR\u306e\u5f0f\u3092\u8aac\u660e\u3057\u3066\u3044\u307e\u3059\u304c\u3001\u4e0d\u52d5\u7523\u9451\u5b9a\u8a55\u4fa1\u57fa\u6e96\u306eDCF\u6cd5\u3067\u6bce\u671f\u306e\u53ce\u76ca\u306b\u4f7f\u3046\u306e\u306f\u3001\u8cc7\u672c\u7684\u652f\u51fa\u3092\u63a7\u9664\u3057\u305f<b><span class=\"swl-marker mark_yellow\">\u7d14\u53ce\u76ca\uff08NCF\uff09<\/span><\/b>\u3067\u3059\u3002<\/p>\n<\/div>\n<\/div>\n\n\n\n<div class=\"swell-block-faq__item\">\n<h3 class=\"faq_q\">\u4e0d\u52d5\u7523\u9451\u5b9a\u58eb\u3084ARES\u8a8d\u5b9a\u30de\u30b9\u30bf\u30fc\u306e\u8cc7\u683c\u306f\u5fc5\u8981\u3067\u3059\u304b<\/h3>\n<div class=\"faq_a\">\n<p class=\"wp-block-paragraph\">\u672c\u8a18\u4e8b\u306e\u8868\u306b\u6319\u3052\u305f8\u3064\u306e\u52df\u96c6\u8981\u9805\u30fb\u63a1\u7528\u30da\u30fc\u30b8\u306b\u306f\u3001\u3069\u3061\u3089\u304b\u3092\u5fc5\u9808\u8981\u4ef6\u306b\u3057\u305f\u3082\u306e\u306f\u306a\u304f\u3001\u30af\u30ea\u30a2\u30eb\u3084DBJ\u30a2\u30bb\u30c3\u30c8\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u306f\u4e21\u65b9\u3092<b><span class=\"swl-marker 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class=\"swell-block-faq__item\">\n<h3 class=\"faq_q\">\u6700\u8fd1\u306e\u30ad\u30e3\u30c3\u30d7\u30ec\u30fc\u30c8\u6c34\u6e96\u3092\u805e\u304b\u308c\u305f\u3089\u3069\u3046\u7b54\u3048\u307e\u3059\u304b<\/h3>\n<div class=\"faq_a\">\n<p class=\"wp-block-paragraph\">\u899a\u3048\u3066\u3044\u308b\u6570\u5b57\u3092\u8a00\u3044\u5207\u308b\u3088\u308a\u3001<b><span class=\"swl-marker mark_yellow\">\u51fa\u5178\u3068\u6642\u70b9\u3092\u6dfb\u3048\u3066<\/span><\/b>\u7b54\u3048\u307e\u3059\u3002\u65e5\u672c\u4e0d\u52d5\u7523\u7814\u7a76\u6240\u306f\u300c\u4e0d\u52d5\u7523\u6295\u8cc7\u5bb6\u8abf\u67fb\u300d\u3092\u5b9a\u671f\u8abf\u67fb\u3068\u3057\u3066\u884c\u3063\u3066\u3044\u307e\u3059\u3002\u672c\u8a18\u4e8b\u306f\u5e02\u5834\u306e\u6c34\u6e96\u3092\u793a\u3057\u3066\u3044\u306a\u3044\u305f\u3081\u3001\u5fdc\u52df\u524d\u306b\u6700\u65b0\u306e\u516c\u8868\u8cc7\u6599\u3067\u78ba\u8a8d\u3057\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n<\/div>\n<\/div>\n\n<\/div>\n<script 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