{"id":4273,"date":"2026-04-14T14:39:43","date_gmt":"2026-04-14T05:39:43","guid":{"rendered":"https:\/\/www.nipponkaigishitsu.com\/column\/?p=4273"},"modified":"2026-04-14T14:39:47","modified_gmt":"2026-04-14T05:39:47","slug":"ecrowd","status":"publish","type":"post","link":"https:\/\/www.nipponkaigishitsu.com\/column\/ecrowd\/","title":{"rendered":"\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306e\u8a55\u5224\u3084\u53e3\u30b3\u30df\u30102026\u5e744\u6708\u3011\u682a\u5f0f\u6295\u8cc7\u578b\u30af\u30e9\u30a6\u30c9\u30d5\u30a1\u30f3\u30c7\u30a3\u30f3\u30b0"},"content":{"rendered":"\n<p>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306f\u3001\u672a\u4e0a\u5834\u30d9\u30f3\u30c1\u30e3\u30fc\u306b\u6295\u8cc7\u3067\u304d\u308b\u30b5\u30fc\u30d3\u30b9\u3068\u3057\u3066\u6ce8\u76ee\u3092\u96c6\u3081\u3066\u3044\u307e\u3059\u304c\u3001\u300c\u672c\u5f53\u306b\u4fe1\u983c\u3067\u304d\u308b\u306e\u304b\u300d\u300c\u602a\u3057\u304f\u306a\u3044\u306e\u304b\u300d\u3068\u3044\u3063\u305f\u4e0d\u5b89\u3092\u611f\u3058\u308b\u4eba\u3082\u591a\u3044\u306e\u304c\u5b9f\u60c5\u3067\u3059\u3002\u5b9f\u969b\u306e\u53e3\u30b3\u30df\u3092\u898b\u308b\u3068\u3001\u53b3\u9078\u3055\u308c\u305f\u6848\u4ef6\u3084\u5927\u624b\u91d1\u878d\u30b0\u30eb\u30fc\u30d7\u3068\u306e\u9023\u643a\u306b\u3088\u308b\u5b89\u5fc3\u611f\u3092\u8a55\u4fa1\u3059\u308b\u58f0\u304c\u3042\u308b\u4e00\u65b9\u3067\u3001\u30ea\u30b9\u30af\u306e\u9ad8\u3055\u3084\u624b\u7d9a\u304d\u9762\u306b\u4e0d\u5b89\u3092\u611f\u3058\u308b\u610f\u898b\u3082\u898b\u3089\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u307e\u305f\u3001\u300c\u30ef\u30af\u30ef\u30af\u3059\u308b\u6848\u4ef6\u304c\u591a\u3044\u300d\u300c\u5c11\u984d\u304b\u3089\u30a8\u30f3\u30b8\u30a7\u30eb\u6295\u8cc7\u304c\u3067\u304d\u308b\u300d\u3068\u3044\u3063\u305f\u30dd\u30b8\u30c6\u30a3\u30d6\u306a\u8a55\u4fa1\u304c\u3042\u308b\u4e00\u65b9\u3067\u3001\u300c\u6295\u8cc7\u56de\u53ce\u307e\u3067\u6642\u9593\u304c\u304b\u304b\u308b\u300d\u300c\u5236\u5ea6\u304c\u3084\u3084\u5206\u304b\u308a\u306b\u304f\u3044\u300d\u3068\u3044\u3063\u305f\u73fe\u5b9f\u7684\u306a\u8ab2\u984c\u3082\u6307\u6458\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u3064\u307e\u308a\u3001\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306f\u5922\u306e\u3042\u308b\u6295\u8cc7\u3068\u30cf\u30a4\u30ea\u30b9\u30af\u304c\u5171\u5b58\u3059\u308b\u30b5\u30fc\u30d3\u30b9\u3067\u3042\u308a\u3001\u7279\u5fb4\u3092\u7406\u89e3\u3057\u305f\u3046\u3048\u3067\u5229\u7528\u3059\u308b\u3053\u3068\u304c\u91cd\u8981\u3068\u3044\u3048\u308b\u3067\u3057\u3087\u3046\u3002\u672c\u8a18\u4e8b\u3067\u306f\u3001\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306e\u8a55\u5224\u3084\u53e3\u30b3\u30df\u3001\u7279\u5fb4\u3001\u30c7\u30e1\u30ea\u30c3\u30c8\u3084\u6ce8\u610f\u70b9\u307e\u3067\u8a73\u3057\u304f\u89e3\u8aac\u3057\u307e\u3059\u3002\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u3078\u306e\u6295\u8cc7\u3092\u691c\u8a0e\u3057\u3066\u3044\u308b\u65b9\u306f\u305c\u3072\u53c2\u8003\u306b\u3057\u3066\u307f\u3066\u304f\u3060\u3055\u3044\u3002<\/p>\n\n\n<div class=\"wp-block-image is-style-browser_mac\">\n<figure class=\"aligncenter size-large is-resized afTORCHES\"><img decoding=\"async\" width=\"1024\" height=\"575\" src=\"https:\/\/www.nipponkaigishitsu.com\/column\/wp-content\/uploads\/2026\/01\/image-2-1024x575.png\" alt=\"\" class=\"wp-image-3315\" style=\"aspect-ratio:1.7809108617011409;width:686px;height:auto\" srcset=\"https:\/\/www.nipponkaigishitsu.com\/column\/wp-content\/uploads\/2026\/01\/image-2-1024x575.png 1024w, https:\/\/www.nipponkaigishitsu.com\/column\/wp-content\/uploads\/2026\/01\/image-2-300x169.png 300w, https:\/\/www.nipponkaigishitsu.com\/column\/wp-content\/uploads\/2026\/01\/image-2-768x432.png 768w, https:\/\/www.nipponkaigishitsu.com\/column\/wp-content\/uploads\/2026\/01\/image-2.png 1089w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n<\/div>\n\n\n<p class=\"has-text-align-center is-style-balloon_box2\"><strong><span class=\"swl-marker mark_yellow\">\u5e74\u522915%\u8d85<\/span><\/strong>\u304c\u591a\u6570\uff01\u5168\u511f\u9084\u30d5\u30a1\u30f3\u30c9\u304c\u4e0a\u632f\u308c<\/p>\n\n\n\n<span class=\"afTORCHES btn-link\">\u3010\u7121\u6599\u3011\u30c8\u30fc\u30c1\u30fc\u30ba\u3067\u4f1a\u54e1\u767b\u9332\u3092\u3059\u308b<\/span>\n\n\n\n<p class=\"has-text-align-center\"><strong>4\u6708\u307e\u3067<span class=\"swl-marker mark_yellow\">4,000\u5186\u5206\u306e\u30c7\u30b8\u30bf\u30eb\u30ae\u30d5\u30c8<\/span>\u304c\u8cb0\u3048\u308b<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306e\u8a55\u5224\u3084\u53e3\u30b3\u30df\u3001\u30ec\u30d3\u30e5\u30fc<\/h2>\n\n\n<div class=\"wp-block-image is-style-shadow\">\n<figure class=\"aligncenter size-large is-resized\"><img decoding=\"async\" width=\"771\" height=\"1024\" src=\"https:\/\/www.nipponkaigishitsu.com\/column\/wp-content\/uploads\/2026\/04\/eclud_eclud-771x1024.jpg\" alt=\"\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306e\u8a55\u5224\u3084\u53e3\u30b3\u30df\u3001\u30ec\u30d3\u30e5\u30fc\" class=\"wp-image-4275\" style=\"aspect-ratio:0.7529259174486915;width:477px;height:auto\" srcset=\"https:\/\/www.nipponkaigishitsu.com\/column\/wp-content\/uploads\/2026\/04\/eclud_eclud-771x1024.jpg 771w, https:\/\/www.nipponkaigishitsu.com\/column\/wp-content\/uploads\/2026\/04\/eclud_eclud-226x300.jpg 226w, https:\/\/www.nipponkaigishitsu.com\/column\/wp-content\/uploads\/2026\/04\/eclud_eclud-768x1020.jpg 768w, https:\/\/www.nipponkaigishitsu.com\/column\/wp-content\/uploads\/2026\/04\/eclud_eclud.jpg 1110w\" sizes=\"(max-width: 771px) 100vw, 771px\" \/><\/figure>\n<\/div>\n\n\n<p>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306f\u3001<strong>\u672a\u4e0a\u5834\u4f01\u696d\u306b\u6295\u8cc7\u3067\u304d\u308b\u30b5\u30fc\u30d3\u30b9<\/strong>\u3068\u3057\u3066\u6ce8\u76ee\u3055\u308c\u3066\u3044\u307e\u3059\u304c\u3001\u53e3\u30b3\u30df\u3092\u898b\u308b\u3068\u30e1\u30ea\u30c3\u30c8\u30fb\u30c7\u30e1\u30ea\u30c3\u30c8\u306e\u4e21\u9762\u304c\u898b\u3048\u3066\u304d\u307e\u3059\u3002\u7279\u306b\u3001<strong><span class=\"swl-marker mark_yellow\">\u6210\u9577\u4f01\u696d\u306b\u65e9\u671f\u304b\u3089\u95a2\u308f\u308c\u308b\u9b45\u529b\u304c\u3042\u308b<\/span><\/strong>\u4e00\u65b9\u3067\u3001<strong><span class=\"swl-marker mark_yellow\">\u6295\u8cc7\u30bf\u30a4\u30df\u30f3\u30b0\u3084\u30ea\u30b9\u30af\u306b\u4e0d\u5b89\u3092\u611f\u3058\u308b\u58f0<\/span><\/strong>\u3082\u3042\u308a\u307e\u3059\u3002\u3053\u3053\u3067\u306f\u3001\u4ee5\u4e0b\u306e\u3088\u3046\u306a\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306e\u8a55\u5224\u3084\u53e3\u30b3\u30df\u3001\u30ec\u30d3\u30e5\u30fc\u3092\u6574\u7406\u3057\u3066\u3044\u304d\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<div class=\"wp-block-group has-border -border01\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<ul class=\"wp-block-list is-style-check_list\">\n<li><a href=\"#reputation1\">\u30df\u30c9\u30eb\u30fb\u30ec\u30a4\u30bf\u30fc\u30b9\u30c6\u30fc\u30b8\u306e\u6295\u8cc7\u5148\u3060\u3068\u6642\u4fa1\u7dcf\u984d\u304c\u3059\u3067\u306b\u9ad8\u304f\u640d\u3057\u305d\u3046<\/a><\/li>\n\n\n\n<li><a href=\"#reputation2\">\u6295\u8cc7\u5148\u4f01\u696d\u304c\u5b9a\u671f\u7684\u306bIR\u3092\u51fa\u3059\u306e\u3067\u900f\u660e\u6027\u304c\u9ad8\u3044<\/a><\/li>\n\n\n\n<li><a href=\"#reputation3\">\u30a8\u30f3\u30b8\u30a7\u30eb\u7a0e\u5236\u306b\u3088\u308b\u672c\u696d\u53ce\u5165\u306e\u6240\u5f97\u63a7\u9664\u304c\u5b09\u3057\u3044<\/a><\/li>\n\n\n\n<li><a href=\"#reputation4\">\u512a\u5f85\u54c1\u304c\u53d7\u3051\u53d6\u308c\u308b<\/a><\/li>\n\n\n\n<li><a href=\"#reputation5\">\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306b\u3088\u308b\u5be9\u67fb\u304c\u3042\u308a\u5b89\u5fc3<\/a><\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p>\u305d\u308c\u305e\u308c\u8a73\u3057\u304f\u898b\u3066\u3044\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"reputation1\">\u30df\u30c9\u30eb\u30fb\u30ec\u30a4\u30bf\u30fc\u30b9\u30c6\u30fc\u30b8\u306e\u6295\u8cc7\u5148\u3060\u3068\u6642\u4fa1\u7dcf\u984d\u304c\u3059\u3067\u306b\u9ad8\u304f\u640d\u3057\u305d\u3046<\/h3>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306e\u30a2\u30ea\u30b9\u30b9\u30bf\u30a4\u30eb\u3001\u8208\u5473\u3042\u308b\u3093\u3060\u3051\u3069\u3059\u3067\u306b\u6642\u4fa1\u7dcf\u984d\u9ad8\u3059\u304e\u3066IPO\u6642\u306b\u30c0\u30a6\u30f3\u30e9\u30a6\u30f3\u30c9\u3059\u308b\u53ef\u80fd\u6027\u3042\u308b\u3057\u3001\u30ed\u30c3\u30af\u30a2\u30c3\u30d7\u304b\u304b\u3063\u305f\u3089\u58f2\u308c\u308b\u6642\u306b\u306f\u5927\u3057\u3066\u5229\u76ca\u51fa\u305d\u3046\u306b\u306a\u3044\u6c17\u304c\u3057\u3066\u60a9\u307f\u4e2d\u3002<\/p>\n<cite>X\uff08@ipomechanic\uff09<\/cite><\/blockquote>\n\n\n\n<p>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306e\u53e3\u30b3\u30df\u306e\u4e2d\u306b\u306f\u3001<strong><span class=\"swl-marker mark_yellow\">\u30df\u30c9\u30eb\u301c\u30ec\u30a4\u30bf\u30fc\u30b9\u30c6\u30fc\u30b8\u6848\u4ef6\u306a\u3089\u3067\u306f\u306e\u300c\u5272\u9ad8\u611f\u300d\u3092\u61f8\u5ff5<\/span><\/strong>\u3059\u308b\u58f0\u3082\u898b\u3089\u308c\u307e\u3059\u3002\u305f\u3068\u3048\u3070\u30a2\u30ea\u30b9\u30b9\u30bf\u30a4\u30eb\u306b\u3064\u3044\u3066\u306f\u3001<strong>\u3059\u3067\u306b\u6642\u4fa1\u7dcf\u984d\u304c\u9ad8\u304f\u8a2d\u5b9a\u3055\u308c\u3066\u304a\u308a\u3001IPO\u6642\u306b\u30c0\u30a6\u30f3\u30e9\u30a6\u30f3\u30c9\u3068\u306a\u308b\u53ef\u80fd\u6027<\/strong>\u3084\u3001<strong>\u30ed\u30c3\u30af\u30a2\u30c3\u30d7\u89e3\u9664\u5f8c\u3067\u3082\u5927\u304d\u306a\u5229\u76ca\u304c\u51fa\u306b\u304f\u3044\u306e\u3067\u306f\u306a\u3044\u304b<\/strong>\u3068\u614e\u91cd\u306a\u610f\u898b\u304c\u51fa\u3066\u3044\u307e\u3059\u3002\u6210\u9577\u4f59\u5730\u3060\u3051\u3067\u306a\u304f\u3001<strong><span class=\"swl-marker mark_yellow\">\u53c2\u5165\u30bf\u30a4\u30df\u30f3\u30b0\u306e\u898b\u6975\u3081\u304c\u91cd\u8981<\/span><\/strong>\u3068\u3044\u3048\u308b\u3067\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"reputation2\">\u6295\u8cc7\u5148\u4f01\u696d\u304c\u5b9a\u671f\u7684\u306bIR\u3092\u51fa\u3059\u306e\u3067\u900f\u660e\u6027\u304c\u9ad8\u3044<\/h3>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306eC-INK\uff08\u672a\u4e0a\u5834\uff09<\/p>\n\n\n\n<p>\u5730\u306b\u8db3\u3064\u3051\u3066\u9811\u5f35\u3063\u3066\u308b\u306e\u304c\u4f1d\u308f\u3063\u3066\u304f\u308b\u826f\u3044 IR \u304c\u51fa\u3066\u3044\u307e\u3059\u3002<br>\u5fdc\u63f4\u3057\u3066\u308b\u3088\u3093\ud83c\udf40<\/p>\n<cite>X\uff08@M12n08Jp\uff09<\/cite><\/blockquote>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u68ee\u5c71\u3055\u3093\u306e\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306eIR\u5831\u544a\u6bce\u6708\u697d\u3057\u307f\u306b\u898b\u3066\u307e\u3059\u2728<br>@moriyama_wizray<\/p>\n<cite>X\uff08@05msy25\uff09<\/cite><\/blockquote>\n\n\n\n<p>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u3067\u306f\u3001<strong><span class=\"swl-marker mark_yellow\">\u6295\u8cc7\u5148\u4f01\u696d\u304c\u5b9a\u671f\u7684\u306bIR\u3092\u767a\u4fe1\u3057\u3066\u3044\u308b<\/span><\/strong>\u70b9\u3082\u9ad8\u304f\u8a55\u4fa1\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u305f\u3068\u3048\u3070<strong>\u672a\u4e0a\u5834\u306eC-INK\u306b\u95a2\u3057\u3066\u306f\u3001\u300c\u5730\u306b\u8db3\u306e\u3064\u3044\u305fIR\u3067\u4f01\u696d\u306e\u6210\u9577\u304c\u4f1d\u308f\u308b\u300d<\/strong>\u3068\u3044\u3063\u305f\u58f0\u304c\u3042\u308a\u3001\u7d99\u7d9a\u7684\u306a\u60c5\u5831\u958b\u793a\u304c\u5b89\u5fc3\u611f\u306b\u3064\u306a\u304c\u3063\u3066\u3044\u307e\u3059\u3002\u307e\u305f\u3001<strong>\u62c5\u5f53\u8005\u306b\u3088\u308b\u6708\u6b21\u5831\u544a\u3092\u697d\u3057\u307f\u306b\u3057\u3066\u3044\u308b<\/strong>\u3068\u3044\u3046\u53e3\u30b3\u30df\u3082\u3042\u308a\u3001<strong><span class=\"swl-marker mark_yellow\">\u6295\u8cc7\u5f8c\u3082\u72b6\u6cc1\u3092\u628a\u63e1\u3057\u3084\u3059\u3044<\/span><\/strong>\u70b9\u306f\u5927\u304d\u306a\u9b45\u529b\u3068\u3044\u3048\u308b\u3067\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"reputation3\">\u30a8\u30f3\u30b8\u30a7\u30eb\u7a0e\u5236\u306b\u3088\u308b\u672c\u696d\u53ce\u5165\u306e\u6240\u5f97\u63a7\u9664\u304c\u5b09\u3057\u3044<\/h3>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>FUNDINO\u3001\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u3001\u30e6\u30cb\u30b3\u30fc\u30f3\u306a\u3069\u3001\u682a\u5f0f\u6295\u8cc7\u578b\u30af\u30e9\u30a6\u30c9\u30d5\u30a1\u30f3\u30c7\u30a3\u30f3\u30b0\u3078\u306e\u6295\u8cc7\u3063\u3066\u3069\u3046\u3067\u3059\u304b\uff1f<\/p>\n\n\n\n<p>\u30a8\u30f3\u30b8\u30a7\u30eb\u7a0e\u5236\u3092\u5229\u7528\u3067\u304d\u308c\u3070\u672c\u696d\u306e\u6240\u5f97\u63a7\u9664\u304c\u53d7\u3051\u3089\u308c\u3001\u7bc0\u7a0e\u52b9\u679c\u304c\u5927\u304d\u3044\u306e\u3067\u691c\u8a0e\u3057\u3066\u3044\u307e\u3059\u3002\u30a8\u30f3\u30b8\u30a7\u30eb\u7a0e\u5236\u5bfe\u8c61\u5916\u306e\u4f01\u696d\u3082\u591a\u304f\u3001\u6700\u7d42\u7684\u306bIPO\u306b\u81f3\u308b\u304b\u3068\u3044\u3046\u3068\u96e3\u3057\u3044\u306e\u304b\u3082\u77e5\u308c\u307e\u305b\u3093\u304c\u3002<\/p>\n<cite>X\uff08@Investor__X\uff09<\/cite><\/blockquote>\n\n\n\n<p>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306a\u3069\u306e\u682a\u5f0f\u6295\u8cc7\u578b\u30af\u30e9\u30a6\u30c9\u30d5\u30a1\u30f3\u30c7\u30a3\u30f3\u30b0\u3067\u306f\u3001<strong><span class=\"swl-marker mark_yellow\">\u30a8\u30f3\u30b8\u30a7\u30eb\u7a0e\u5236\u306b\u3088\u308b\u300c\u6240\u5f97\u63a7\u9664\u30e1\u30ea\u30c3\u30c8\u300d<\/span><\/strong>\u3092\u8a55\u4fa1\u3059\u308b\u58f0\u3082\u591a\u304f\u898b\u3089\u308c\u307e\u3059\u3002\u5b9f\u969b\u3001<strong><span class=\"swl-marker mark_yellow\">\u672a\u4e0a\u5834\u30d9\u30f3\u30c1\u30e3\u30fc\u306b\u6295\u8cc7\u3059\u308b\u3068\u3001\u6295\u8cc7\u984d\u3092\u7dcf\u6240\u5f97\u304b\u3089\u63a7\u9664\u3067\u304d\u308b\u4ed5\u7d44\u307f<\/span><\/strong>\u304c\u3042\u308a\u3001<strong>\u672c\u696d\u53ce\u5165\u304c\u3042\u308b\u4eba\u307b\u3069\u7bc0\u7a0e\u52b9\u679c\u3092\u5b9f\u611f\u3057\u3084\u3059\u3044<\/strong>\u306e\u304c\u7279\u5fb4\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u4e00\u65b9\u3067\u3001\u4e0a\u8a18\u306e\u53e3\u30b3\u30df\u306b\u3082\u3042\u308b\u901a\u308a\u3001<strong><span class=\"swl-marker mark_yellow\">\u3059\u3079\u3066\u306e\u6848\u4ef6\u304c\u5bfe\u8c61\u3067\u306f\u306a\u304f\u3001\u5236\u5ea6\u9069\u7528\u306b\u306f\u4f01\u696d\u5074\u306e\u6761\u4ef6\u3092\u6e80\u305f\u3059\u5fc5\u8981<\/span><\/strong>\u304c\u3042\u308a\u307e\u3059\u3002\u307e\u305f\u3001<strong><span class=\"swl-marker mark_yellow\">\u6700\u7d42\u7684\u306bIPO\u3084\u58f2\u5374\u306b\u81f3\u308b\u304b\u306f\u4e0d\u78ba\u5b9f<\/span><\/strong>\u3067\u3042\u308a\u3001<strong>\u7bc0\u7a0e\u30e1\u30ea\u30c3\u30c8\u3060\u3051\u3067\u5224\u65ad\u3059\u308b\u306e\u306f\u30ea\u30b9\u30af<\/strong>\u3082\u4f34\u3044\u307e\u3059\u3002<strong>\u7a0e\u5236\u512a\u9047\u3068\u6295\u8cc7\u30ea\u30bf\u30fc\u30f3\u306e\u30d0\u30e9\u30f3\u30b9\u3092\u898b\u306a\u304c\u3089\u691c\u8a0e<\/strong>\u3059\u308b\u3053\u3068\u304c\u91cd\u8981\u3068\u3044\u3048\u308b\u3067\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"reputation4\">\u512a\u5f85\u54c1\u304c\u53d7\u3051\u53d6\u308c\u308b<\/h3>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306e\u30d3\u30fc\u30eb\ud83c\udf7a\u6848\u4ef6\u3092\u5168\u90e8\u8aad\u307f\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u682a\u4e3b\u512a\u5f85\u3092\u3082\u3089\u3063\u3066\u3001\u307f\u3093\u306a\u3067\u76db\u308a\u4e0a\u3052\u3066\u884c\u304f\u306e\u306f\u826f\u3044\u3068\u601d\u3046\u3002<\/p>\n\n\n\n<p>\u3068\u308a\u3042\u3048\u305a\u79c1\u306f\u3001\u65e2\u5b58\u306e\u30af\u30e9\u30d5\u30c8\u30d3\u30fc\u30eb\ud83c\udf7a\u682a\u4e3b\u306a\u306e\u3067\u3001\u305d\u3063\u3061\u3092\u76db\u308a\u4e0a\u3052\u3066\u53c2\u308a\u307e\u3059\uff01<\/p>\n<cite>X\uff08@sarar_mii\uff09<\/cite><\/blockquote>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306b\u3066\u3001\u65e5\u672c\u306e\u98df\u3092\u652f\u3048\u308b\u8fb2\u696d\u306e\u8ab2\u984c\u53ef\u6c7a\u306b\u53d6\u308a\u7d44\u3080\u300e\u682a\u5f0f\u4f1a\u793e\u30a2\u30f3\u30c9\u30d4\u30ea\u30aa\u30c9\u300f\u3055\u3093\u306b\u5fdc\u63f4\u6295\u8cc7\u5b8c\u4e86\u3057\u307e\u3057\u305f\u2728<br>\u30b8\u30f3\u98f2\u3081\u306a\u3044\u306e\u3067\u3001\u5225\u306e\u512a\u5f85\u4f9d\u983c\u3057\u307e\u3059\ud83d\ude4f<br>\u8fb2\u5bb6\u3055\u3093\u3082\u30cf\u30c3\u30d4\u30fc\u306b\u306a\u308c\u3070\u3001\u5b09\u3057\u3044\u9650\u308a\u3067\u3059\u2728<\/p>\n<cite>X\uff08@nisaschool\uff09<\/cite><\/blockquote>\n\n\n\n<p>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u3067\u306f\u3001<strong><span class=\"swl-marker mark_yellow\">\u6295\u8cc7\u30ea\u30bf\u30fc\u30f3\u3060\u3051\u3067\u306a\u304f\u682a\u4e3b\u512a\u5f85\u3092\u697d\u3057\u307f\u306b\u3059\u308b\u58f0<\/span><\/strong>\u3082\u591a\u304f\u898b\u3089\u308c\u307e\u3059\u3002\u5b9f\u969b\u3001\u30af<strong>\u30e9\u30d5\u30c8\u30d3\u30fc\u30eb\u306a\u3069\u306e\u6848\u4ef6\u3067\u306f\u300c\u512a\u5f85\u3092\u901a\u3058\u3066\u5fdc\u63f4\u3057\u306a\u304c\u3089\u76db\u308a\u4e0a\u3052\u305f\u3044\u300d<\/strong>\u3068\u3044\u3063\u305f\u53e3\u30b3\u30df\u304c\u3042\u308a\u3001<strong><span class=\"swl-marker mark_yellow\">\u6295\u8cc7\u4f53\u9a13\u305d\u306e\u3082\u306e\u3092\u697d\u3057\u3081\u308b<\/span><\/strong>\u70b9\u304c\u9b45\u529b\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u307e\u305f\u3001\u8fb2\u696d\u7cfb\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u306e\u30a2\u30f3\u30c9\u30d4\u30ea\u30aa\u30c9\u306e\u3088\u3046\u306b\u3001<strong>\u793e\u4f1a\u8ab2\u984c\u306e\u89e3\u6c7a\u306b\u53d6\u308a\u7d44\u3080\u4f01\u696d\u3078\u5171\u611f\u3057\u3066\u51fa\u8cc7\u3059\u308b\u30b1\u30fc\u30b9\u3082<\/strong>\u3042\u308a\u3001\u300c\u512a\u5f85\u5185\u5bb9\u3092\u81ea\u5206\u306b\u5408\u3063\u305f\u3082\u306e\u306b\u3057\u3066\u307b\u3057\u3044\u300d\u3068\u3044\u3063\u305f\u58f0\u3082\u898b\u3089\u308c\u307e\u3059\u3002<strong><span class=\"swl-marker mark_yellow\">\u91d1\u92ad\u7684\u30ea\u30bf\u30fc\u30f3\u306b\u52a0\u3048\u3001\u5fdc\u63f4\u3084\u4f53\u9a13\u4fa1\u5024\u3092\u91cd\u8996\u3059\u308b\u4eba<\/span><\/strong>\u306b\u5411\u3044\u3066\u3044\u308b\u3068\u3044\u3048\u308b\u3067\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"reputation5\">\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306b\u3088\u308b\u5be9\u67fb\u304c\u3042\u308a\u5b89\u5fc3<\/h3>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306f\u305d\u308c\u306a\u308a\u306b\u826f\u3044\u4f01\u696d\u304c\u51fa\u3066\u304f\u308b\u5370\u8c61\u304c\u3042\u308a\u307e\u3059\u306d\u3002\uff08\u3069\u3053\u304b\u306e\u3088\u3046\u306b\u4f55\u3067\u3082\u4e71\u767a\u3057\u3066\u3044\u306a\u3044\uff09\u5c11\u3057\u8abf\u3079\u3066\u304a\u304d\u307e\u3059\u3002<\/p>\n<cite>X\uff08@maho_fuyutsuki\uff09<\/cite><\/blockquote>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u4eca\u5e74\u306f\u691c\u8a0e\u3059\u3089\u3059\u308b\u3064\u3082\u308a\u306a\u304b\u3063\u305f\u304c\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u65b0\u6848\u4ef6\u51c4\u304f\u3044\u3044\u611f\u3058\u3059\u308b\u2026<\/p>\n<cite>X\uff08@masaemon7777\uff09<\/cite><\/blockquote>\n\n\n\n<p>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306f\u3001<strong><span class=\"swl-marker mark_yellow\">\u63b2\u8f09\u6848\u4ef6\u306b\u5bfe\u3059\u308b\u5be9\u67fb\u4f53\u5236\u304c\u3042\u308b<\/span><\/strong>\u70b9\u3067\u3082\u8a55\u4fa1\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u4e0a\u8a18\u306e\u3088\u3046\u306b\u53e3\u30b3\u30df\u3067\u306f<strong>\u300c\u6848\u4ef6\u3092\u53b3\u9078\u3057\u3066\u3044\u308b\u5370\u8c61\u304c\u3042\u308a\u5b89\u5fc3\u611f\u304c\u3042\u308b\u300d\u300c\u4ed6\u30b5\u30fc\u30d3\u30b9\u306e\u3088\u3046\u306b\u6570\u3092\u5897\u3084\u3059\u3060\u3051\u3067\u306a\u304f\u8cea\u3092\u91cd\u8996\u3057\u3066\u3044\u308b\u300d<\/strong>\u3068\u3044\u3063\u305f\u58f0\u304c\u898b\u3089\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u307e\u305f\u3001<strong>\u65b0\u898f\u6848\u4ef6\u306b\u3064\u3044\u3066\u3082\u300c\u9b45\u529b\u7684\u3067\u691c\u8a0e\u3057\u305f\u304f\u306a\u308b\u300d<\/strong>\u3068\u3044\u3063\u305f\u610f\u898b\u304c\u3042\u308a\u3001<strong><span class=\"swl-marker mark_yellow\">\u4e00\u5b9a\u306e\u57fa\u6e96\u3092\u30af\u30ea\u30a2\u3057\u305f\u4f01\u696d\u306e\u307f\u304c\u63b2\u8f09\u3055\u308c\u3066\u3044\u308b<\/span><\/strong>\u3053\u3068\u304c\u3001<strong><span class=\"swl-marker mark_yellow\">\u6295\u8cc7\u5224\u65ad\u306e\u3057\u3084\u3059\u3055<\/span><\/strong>\u306b\u3064\u306a\u304c\u3063\u3066\u3044\u308b\u3068\u3044\u3048\u308b\u3067\u3057\u3087\u3046\u3002\u305f\u3060\u3057\u3001\u3042\u304f\u307e\u3067<strong><span class=\"swl-marker mark_yellow\">\u5be9\u67fb\u306f\u6700\u4f4e\u9650\u306e\u30d5\u30a3\u30eb\u30bf\u30fc\u3067\u3042\u308a\u3001\u6700\u7d42\u7684\u306a\u30ea\u30b9\u30af\u5224\u65ad\u306f\u6295\u8cc7\u5bb6\u81ea\u8eab\u3067\u884c\u3046<\/span><\/strong>\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u3068\u306f\u672a\u4e0a\u5834\u30d9\u30f3\u30c1\u30e3\u30fc\u306b\u6295\u8cc7\u3067\u304d\u308b\u682a\u5f0f\u6295\u8cc7\u578b\u30af\u30e9\u30a6\u30c9\u30d5\u30a1\u30f3\u30c7\u30a3\u30f3\u30b0<\/h2>\n\n\n\n<p>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u3068\u306f\u3001<strong><span class=\"swl-marker 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id=\"ecrowd3\">\u60c5\u5831\u958b\u793a\u3084IR\u304c\u308f\u304b\u308a\u3084\u3059\u3044<\/h3>\n\n\n\n<p>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306f\u3001<strong><span class=\"swl-marker mark_yellow\">\u6295\u8cc7\u5f8c\u306e\u60c5\u5831\u958b\u793a\u3084IR\u304c\u5206\u304b\u308a\u3084\u3059\u3044<\/span><\/strong>\u70b9\u3082\u8a55\u4fa1\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u672a\u4e0a\u5834\u4f01\u696d\u3078\u306e\u6295\u8cc7\u306f\u60c5\u5831\u304c\u9650\u3089\u308c\u304c\u3061\u3067\u3059\u304c\u3001\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u3067\u306f<strong><span class=\"swl-marker 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mark_yellow\">\u5148\u7aef\u5206\u91ce\u306b\u53d6\u308a\u7d44\u3080\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7<\/span><\/strong>\u306b\u5bfe\u3057\u3066\u3001<strong><span class=\"swl-marker mark_yellow\">\u500b\u4eba\u304c\u8cc7\u91d1\u9762\u304b\u3089\u652f\u63f4\u3067\u304d\u308b<\/span><\/strong>\u70b9\u3082\u5927\u304d\u306a\u9b45\u529b\u3067\u3059\u3002\u3053\u308c\u307e\u3067\u3053\u3046\u3057\u305f\u5206\u91ce\u3078\u306e\u6295\u8cc7\u306f\u4e00\u90e8\u306e\u6295\u8cc7\u5bb6\u306b\u9650\u3089\u308c\u3066\u3044\u307e\u3057\u305f\u304c\u3001\u30af\u30e9\u30a6\u30c9\u30d5\u30a1\u30f3\u30c7\u30a3\u30f3\u30b0\u3092\u901a\u3058\u3066\u4e00\u822c\u306e\u500b\u4eba\u3067\u3082\u53c2\u52a0\u3057\u3084\u3059\u304f\u306a\u308a\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u5358\u306a\u308b\u8cc7\u7523\u904b\u7528\u306b\u3068\u3069\u307e\u3089\u305a\u3001<strong>\u300c\u793e\u4f1a\u3092\u826f\u304f\u3059\u308b\u6280\u8853\u3092\u5fdc\u63f4\u3059\u308b\u300d<\/strong>\u3068\u3044\u3046\u610f\u5473\u5408\u3044\u304c\u5f37\u304f\u3001<strong><span class=\"swl-marker mark_yellow\">\u81ea\u5206\u306e\u4fa1\u5024\u89b3\u3084\u95a2\u5fc3\u306b\u6cbf\u3063\u305f\u6295\u8cc7\u304c\u3067\u304d\u308b<\/span><\/strong>\u306e\u3082\u7279\u5fb4\u3067\u3059\u3002<strong><span class=\"swl-marker mark_yellow\">\u4f01\u696d\u306e\u6210\u9577\u3068\u3068\u3082\u306b\u793e\u4f1a\u7684\u30a4\u30f3\u30d1\u30af\u30c8\u3092\u611f\u3058\u3089\u308c\u308b<\/span><\/strong>\u70b9\u306f\u3001\u4ed6\u306e\u6295\u8cc7\u624b\u6cd5\u306b\u306f\u306a\u3044\u9b45\u529b\u3068\u3044\u3048\u308b\u3067\u3057\u3087\u3046\u3002\u305f\u3060\u3057\u3001<strong>\u5148\u7aef\u5206\u91ce\u306f\u4e0d\u78ba\u5b9f\u6027\u3082\u9ad8\u3044<\/strong>\u305f\u3081\u3001<strong>\u30ea\u30b9\u30af\u3092\u7406\u89e3\u3057\u305f\u3046\u3048\u3067\u306e\u5224\u65ad<\/strong>\u304c\u91cd\u8981\u3067\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u904b\u55b6\u4f1a\u793e\u306e\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u682a\u5f0f\u4f1a\u793e\u306f\u602a\u3057\u3044\uff1f<\/h2>\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\"><table style=\"--table-width:800px;\" class=\"has-fixed-layout\"><tbody><tr><th>\u904b\u55b6\u4f1a\u793e<\/th><td>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9 \u682a\u5f0f\u4f1a\u793e<\/td><\/tr><tr><th>\u4ee3\u8868<\/th><td>\u6ce2\u591a\u6c5f\u76f4\u5f66<\/td><\/tr><tr><th>\u8a2d\u7acb<\/th><td>2018\u5e747\u67082\u65e5<\/td><\/tr><tr><th>\u6240\u5728\u5730<\/th><td>\u6771\u4eac\u90fd\u5343\u4ee3\u7530\u533a\u5927\u624b\u753a\uff11\u4e01\u76ee\uff16\u756a\uff11\u53f7\u5927\u624b\u753a\u30d3\u30eb\u30c2\u30f3\u30b0\uff14\u968e<\/td><\/tr><tr><th>\u8a31\u53ef\u756a\u53f7<\/th><td>\u30fb<a href=\"https:\/\/www.fsa.go.jp\/menkyo\/menkyoj\/kinyushohin.pdf\">\u95a2\u6771\u8ca1\u52d9\u5c40\u9577\uff08\u91d1\u5546\uff09\u7b2c 3181\u53f7<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>\u91d1\u878d\u5546\u54c1\u3092\u6271\u3046\u305f\u3081\u306b\u306f\u3001\u91d1\u878d\u5e81\u306e\u767b\u9332\u304c\u5fc5\u9808\u3067\u3059\u304c\u3001<strong><span class=\"swl-marker mark_yellow\">\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306f\u6b63\u5f0f\u306b\u8a8d\u53ef\u3092\u53d7\u3051\u305f\u4e8b\u696d\u8005<\/span><\/strong>\u3067\u3059\u3002\u305d\u306e\u305f\u3081\u3001\u7121\u767b\u9332\u696d\u8005\u306e\u3088\u3046\u306a\u300c\u3044\u308f\u3086\u308b\u602a\u3057\u3044\u4f1a\u793e\u300d\u3068\u306f\u6027\u8cea\u304c\u7570\u306a\u308a\u307e\u3059\u3002\u307e\u305f\u3001<strong>\u6240\u5728\u5730\u304c\u5927\u624b\u753a\u306e\u30aa\u30d5\u30a3\u30b9\u30d3\u30eb\u3067\u3042\u308b<\/strong>\u70b9\u3084\u3001<strong>\u4ee3\u8868\u8005\u306e\u7d4c\u6b74<\/strong>\u3001\u3055\u3089\u306b<strong>\u5927\u624b\u91d1\u878d\u30b0\u30eb\u30fc\u30d7\u3068\u306e\u8cc7\u672c\u63d0\u643a<\/strong>\u3082\u8e0f\u307e\u3048\u308b\u3068\u3001\u4e00\u5b9a\u306e\u4fe1\u983c\u57fa\u76e4\u306f\u3042\u308b\u3068\u3044\u3048\u308b\u3067\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<p>\u305f\u3060\u3057\u3001\u30b5\u30fc\u30d3\u30b9\u306e\u6027\u8cea\u4e0a\u3001<strong><span class=\"swl-marker mark_yellow\">\u6295\u8cc7\u5148\u306f\u672a\u4e0a\u5834\u4f01\u696d\u3067\u3042\u308a\u30ea\u30b9\u30af\u306f\u9ad8\u3081<\/span><\/strong>\u3067\u3059\u3002<strong>\u300c\u4f1a\u793e\u304c\u602a\u3057\u3044\u304b\u3069\u3046\u304b\u300d\u3068\u300c\u6295\u8cc7\u3068\u3057\u3066\u5b89\u5168\u304b\u3069\u3046\u304b\u300d\u306f\u5225\u554f\u984c<\/strong>\u306a\u306e\u3067\u3001\u305d\u306e\u70b9\u306f\u5206\u3051\u3066\u5224\u65ad\u3059\u308b\u3053\u3068\u304c\u5927\u5207\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u5927\u548c\u8a3c\u5238\u30b0\u30eb\u30fc\u30d7\u3068\u306e\u95a2\u4fc2\u6027\u306f\uff1f<\/h3>\n\n\n\n<p>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u682a\u5f0f\u4f1a\u793e\u3068\u5927\u548c\u8a3c\u5238\u30b0\u30eb\u30fc\u30d7\u306e\u95a2\u4fc2\u306f\u3001\u300c\u76f4\u63a5\u306e\u5b50\u4f1a\u793e\u300d\u3067\u306f\u306a\u304f\u3001<strong><span class=\"swl-marker mark_yellow\">\u30b0\u30eb\u30fc\u30d7\u4f1a\u793e\u3092\u901a\u3058\u305f\u51fa\u8cc7\u30fb\u9023\u643a\u95a2\u4fc2<\/span><\/strong>\u3067\u3059\u3002\u5177\u4f53\u7684\u306b\u306f\u3001<strong><span class=\"swl-marker mark_yellow\">\u5927\u548c\u8a3c\u5238\u30b0\u30eb\u30fc\u30d7\u306e\u5b50\u4f1a\u793e\u3067\u3042\u308bFintertech\u304c\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306b\u51fa\u8cc7<\/span><\/strong>\u3057\u3066\u304a\u308a\u3001\u682a\u4e3b\u306e\u4e00\u793e\u3068\u3057\u3066\u95a2\u4e0e\u3057\u3066\u3044\u307e\u3059\u3002\u5b9f\u969b\u3001\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306f<strong>\u8a2d\u7acb\u6642\u306bFintertech\u304b\u3089\u8cc7\u91d1\u8abf\u9054<\/strong>\u3092\u884c\u3044\u3001<strong>XTech\u3068\u5927\u548c\u8a3c\u5238\u30b0\u30eb\u30fc\u30d7\u306e\u30ce\u30a6\u30cf\u30a6\u3092\u7d44\u307f\u5408\u308f\u305b\u305f\u5f62\u3067\u4e8b\u696d\u304c\u30b9\u30bf\u30fc\u30c8<\/strong>\u3057\u307e\u3057\u305f\u3002&nbsp;<\/p>\n\n\n\n<p>\u3053\u306e\u95a2\u4fc2\u306b\u3088\u308a\u3001<strong><span class=\"swl-marker mark_yellow\">\u5927\u548c\u8a3c\u5238\u30b0\u30eb\u30fc\u30d7\u304c\u6301\u3064\u91d1\u878d\u30fb\u8a3c\u5238\u30d3\u30b8\u30cd\u30b9\u306e\u77e5\u898b\u3084\u30cd\u30c3\u30c8\u30ef\u30fc\u30af\u304c\u6d3b\u7528<\/span><\/strong>\u3055\u308c\u3066\u304a\u308a\u3001<strong>\u5be9\u67fb\u4f53\u5236\u3084\u4e8b\u696d\u904b\u55b6\u306e\u4fe1\u983c\u6027\u5411\u4e0a<\/strong>\u306b\u3064\u306a\u304c\u3063\u3066\u3044\u307e\u3059\u3002\u307e\u305f\u3001<strong>\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u306b\u3068\u3063\u3066\u3082\u5c06\u6765\u7684\u306aIPO\u652f\u63f4\u306a\u3069\u306e\u9762\u3067\u30e1\u30ea\u30c3\u30c8\u304c\u3042\u308b<\/strong>\u3068\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u3064\u307e\u308a\u3001<strong><span class=\"swl-marker mark_yellow\">\u300c\u8cc7\u672c\u63d0\u643a\uff0b\u4e8b\u696d\u9023\u643a\u300d\u306e\u95a2\u4fc2<\/span><\/strong>\u3067\u3042\u308a\u3001\u5927\u624b\u8a3c\u5238\u30b0\u30eb\u30fc\u30d7\u306e\u30d0\u30c3\u30af\u30a2\u30c3\u30d7\u3092\u53d7\u3051\u306a\u304c\u3089\u904b\u55b6\u3055\u308c\u3066\u3044\u308b\u70b9\u304c\u7279\u5fb4\u3067\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u4ee3\u8868\u53d6\u7de0\u5f79\u306e\u6ce2\u591a\u6c5f\u3055\u3093\u306f\u3069\u306e\u3088\u3046\u306a\u4eba\uff1f<\/h3>\n\n\n\n<p>\u4ee3\u8868\u53d6\u7de0\u5f79\u306e\u6ce2\u591a\u6c5f\u76f4\u5f66\u3055\u3093\u306f\u3001<strong><span class=\"swl-marker mark_yellow\">\u30d9\u30f3\u30c1\u30e3\u30fc\u6295\u8cc7\u3068\u8d77\u696d\u306e\u4e21\u65b9\u3092\u7d4c\u9a13\u3057\u3066\u304d\u305f\u300c\u6295\u8cc7\u306e\u30d7\u30ed\u51fa\u8eab\u306e\u8d77\u696d\u5bb6<\/span><\/strong>\u300d\u3067\u3059\u3002\u6176\u61c9\u7fa9\u587e\u5927\u5b66\u5352\u696d\u5f8c\u3001\u30b5\u30a4\u30d0\u30fc\u30a8\u30fc\u30b8\u30a7\u30f3\u30c8\u306b\u5165\u793e\u3057\u3001<strong>\u5e83\u544a\u3084\u30e1\u30c7\u30a3\u30a2\u4e8b\u696d\u3001\u5b50\u4f1a\u793e\u7d4c\u55b6\u306a\u3069\u5e45\u5e83\u304f\u7d4c\u9a13<\/strong>\u3057\u3066\u3044\u307e\u3059\u3002\u305d\u306e\u5f8c\u306f\u30d9\u30f3\u30c1\u30e3\u30fc\u30ad\u30e3\u30d4\u30bf\u30eb\u3067\u3042\u308b\u30b5\u30a4\u30d0\u30fc\u30a8\u30fc\u30b8\u30a7\u30f3\u30c8\u30fb\u30d9\u30f3\u30c1\u30e3\u30fc\u30ba\u3084XTech Ventures\u3067\u6295\u8cc7\u696d\u52d9\u306b\u643a\u308f\u308a\u3001\u591a\u304f\u306e\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u652f\u63f4\u3092\u884c\u3063\u3066\u304d\u307e\u3057\u305f\u3002&nbsp;<\/p>\n\n\n\n<p>\u3053\u3046\u3057\u305f\u7d4c\u9a13\u3092\u3082\u3068\u306b<strong>2018\u5e74\u306b\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u3092\u5275\u696d<\/strong>\u3057\u3001<strong><span class=\"swl-marker mark_yellow\">\u300c\u6311\u6226\u3059\u308b\u4eba\u3068\u5fdc\u63f4\u3059\u308b\u4eba\u3092\u6295\u8cc7\u3067\u3064\u306a\u3050\u300d\u4ed5\u7d44\u307f\u3065\u304f\u308a<\/span><\/strong>\u3092\u76ee\u6307\u3057\u3066\u3044\u307e\u3059\u3002\u7279\u5fb4\u3068\u3057\u3066\u306f\u3001\u5358\u306a\u308b\u91d1\u878d\u30d3\u30b8\u30cd\u30b9\u3068\u3044\u3046\u3088\u308a\u3082<strong><span class=\"swl-marker mark_yellow\">\u300c\u5fdc\u63f4\u300d\u3084\u300c\u5171\u611f\u300d\u3092\u91cd\u8996<\/span><\/strong>\u3057\u3066\u3044\u308b\u70b9\u304c\u3042\u308a\u3001<strong>\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u3068\u500b\u4eba\u6295\u8cc7\u5bb6\u3092\u3064\u306a\u3050\u65b0\u3057\u3044\u91d1\u878d\u306e\u5f62<\/strong>\u3092\u4f5c\u308d\u3046\u3068\u3057\u3066\u3044\u308b\u4eba\u7269\u3068\u3044\u3048\u308b\u3067\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306e\u5b9f\u7e3e\u306f\uff1f\u8cc7\u91d1\u8abf\u9054\u4ef6\u6570\u3084EXIT\u4e8b\u4f8b<\/h2>\n\n\n\n<p>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306f\u3001<strong><span class=\"swl-marker mark_yellow\">\u672a\u4e0a\u5834\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u3078\u306e\u8cc7\u91d1\u8abf\u9054\u3092\u652f\u63f4\u3059\u308b\u30d7\u30e9\u30c3\u30c8\u30d5\u30a9\u30fc\u30e0<\/span><\/strong>\u3068\u3057\u3066\u3001\u7740\u5b9f\u306b\u5b9f\u7e3e\u3092\u7a4d\u307f\u4e0a\u3052\u3066\u3044\u307e\u3059\u3002<strong><span class=\"swl-marker mark_yellow\">\u7d2f\u8a08\u306e\u52df\u96c6\u4ef6\u6570\u3084\u8abf\u9054\u984d\u306f\u5e74\u3005\u5897\u52a0<\/span><\/strong>\u3057\u3066\u304a\u308a\u3001<strong>\u6295\u8cc7\u6a5f\u4f1a\u306e\u5e83\u304c\u308a\u3068\u3068\u3082\u306b\u5229\u7528\u8005\u3082\u62e1\u5927<\/strong>\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u3055\u3089\u306b\u3001\u51fa\u8cc7\u5148\u4f01\u696d\u306e\u4e2d\u306b\u306f<strong><span class=\"swl-marker mark_yellow\">M&amp;A\u306b\u3088\u3063\u3066EXIT\u3092\u5b9f\u73fe\u3057\u305f\u4e8b\u4f8b<\/span><\/strong>\u3082\u51fa\u3066\u304d\u3066\u304a\u308a\u3001\u5358\u306a\u308b\u8cc7\u91d1\u63d0\u4f9b\u306b\u3068\u3069\u307e\u3089\u305a\u3001<strong>\u6210\u679c\u306b\u3064\u306a\u304c\u308b\u30b1\u30fc\u30b9<\/strong>\u3082\u898b\u3089\u308c\u308b\u3088\u3046\u306b\u306a\u3063\u3066\u3044\u307e\u3059\u3002\u3053\u3046\u3057\u305f\u5b9f\u7e3e\u306f\u3001\u30b5\u30fc\u30d3\u30b9\u306e\u4fe1\u983c\u6027\u3092\u5224\u65ad\u3059\u308b\u3046\u3048\u3067\u91cd\u8981\u306a\u30dd\u30a4\u30f3\u30c8\u3068\u3044\u3048\u308b\u3067\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u7d2f\u8a08\u306e\u8cc7\u91d1\u8abf\u9054\u5b9f\u7e3e\u3068\u52df\u96c6\u4ef6\u6570<\/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\"><table style=\"--table-width:800px;\" class=\"has-fixed-layout\"><tbody><tr><th>\u7d2f\u8a08\u52df\u96c6\u30d5\u30a1\u30f3\u30c9\u6570<\/th><td>60\u4ef6<\/td><\/tr><tr><th>\u7d2f\u8a08\u8cc7\u91d1\u8abf\u9054\u984d<\/th><td>14\u5104\u5186<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u3067\u306f\u3001\u3053\u308c\u307e\u3067\u306b<strong>\u7740\u5b9f\u306b\u8cc7\u91d1\u8abf\u9054\u306e\u5b9f\u7e3e\u3092\u7a4d\u307f\u91cd\u306d\u3066\u3044\u307e\u3059<\/strong>\u3002<strong><span class=\"swl-marker mark_yellow\">\u7d2f\u8a08\u52df\u96c6\u30d5\u30a1\u30f3\u30c9\u6570\u306f60\u4ef6\u3001\u7d2f\u8a08\u8cc7\u91d1\u8abf\u9054\u984d\u306f\u7d0414\u5104\u5186<\/span><\/strong>\u306b\u9054\u3057\u3066\u304a\u308a\u3001\u56fd\u5185\u306e\u682a\u5f0f\u6295\u8cc7\u578b\u30af\u30e9\u30a6\u30c9\u30d5\u30a1\u30f3\u30c7\u30a3\u30f3\u30b0\u306e\u4e2d\u3067\u3082\u4e00\u5b9a\u306e\u5b58\u5728\u611f\u3092\u793a\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u6848\u4ef6\u6570\u306f\u6975\u7aef\u306b\u591a\u3044\u308f\u3051\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u304c\u3001\u305d\u306e\u5206\u3001<strong><span class=\"swl-marker mark_yellow\">\u63b2\u8f09\u4f01\u696d\u3092\u53b3\u9078\u3057\u3066\u3044\u308b<\/span><\/strong>\u70b9\u304c\u7279\u5fb4\u3067\u3059\u3002<strong>\u6570\u3092\u8ffd\u3046\u306e\u3067\u306f\u306a\u304f\u8cea\u3092\u91cd\u8996\u3057\u305f\u904b\u55b6\u65b9\u91dd<\/strong>\u304c\u3001\u3053\u306e\u5b9f\u7e3e\u306b\u3082\u8868\u308c\u3066\u3044\u308b\u3068\u3044\u3048\u308b\u3067\u3057\u3087\u3046\u3002\u4eca\u5f8c\u3082<strong>\u6848\u4ef6\u306e\u5897\u52a0\u3068\u3068\u3082\u306b\u3001\u3055\u3089\u306b\u5b9f\u7e3e\u304c\u62e1\u5927\u3057\u3066\u3044\u304f\u3053\u3068\u304c\u671f\u5f85<\/strong>\u3055\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">M&amp;A\u306b\u3088\u308bEXIT\u4e8b\u4f8b\u3082\u3042\u308b<\/h3>\n\n\n\n<p>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u3067\u306f\u3001\u5b9f\u969b\u306b<strong><span class=\"swl-marker mark_yellow\">M&amp;A\u306b\u3088\u308bEXIT\u4e8b\u4f8b\u3082\u78ba\u8a8d<\/span><\/strong>\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u4ee3\u8868\u7684\u306a\u4e8b\u4f8b\u3068\u3057\u3066\u3001<strong>\u6295\u8cc7\u5148\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u304c\u8cb7\u53ce<\/strong>\u3055\u308c\u3001<strong>\u6295\u8cc7\u304b\u3089\u7d049\u30f6\u6708\u3068\u3044\u3046\u77ed\u671f\u9593\u3067EXIT\u304c\u5b9f\u73fe<\/strong>\u3057\u307e\u3057\u305f\u3002\u3053\u306e\u30b1\u30fc\u30b9\u3067\u306f\u3001<strong><span class=\"swl-marker mark_yellow\">\u500b\u4eba\u6295\u8cc7\u5bb6\u306b\u5bfe\u3057\u30662.69\u500d\u306e\u30ea\u30bf\u30fc\u30f3\u304c\u767a\u751f<\/span><\/strong>\u3057\u3066\u304a\u308a\u3001\u56fd\u5185\u306e\u682a\u5f0f\u6295\u8cc7\u578b\u30af\u30e9\u30a6\u30c9\u30d5\u30a1\u30f3\u30c7\u30a3\u30f3\u30b0\u3068\u3057\u3066\u3082\u6bd4\u8f03\u7684\u65e9\u3044\u56de\u53ce\u4e8b\u4f8b\u3068\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u672a\u4e0a\u5834\u6295\u8cc7\u306fIPO\u3060\u3051\u3067\u306a\u304f\u3001<strong><span class=\"swl-marker mark_yellow\">M&amp;A\u306b\u3088\u308b\u8cc7\u91d1\u56de\u53ce\u3082\u91cd\u8981\u306a\u51fa\u53e3\u6226\u7565<\/span><\/strong>\u306e\u3072\u3068\u3064\u3067\u3059\u3002\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u3067\u3082<strong>\u3059\u3067\u306b\u3053\u3046\u3057\u305f\u5b9f\u7e3e\u304c\u51fa\u3066\u3044\u308b<\/strong>\u70b9\u306f\u3001<strong>\u30b5\u30fc\u30d3\u30b9\u306e\u6210\u9577\u6027\u3092\u793a\u3059\u6750\u6599<\/strong>\u3068\u3044\u3048\u308b\u3067\u3057\u3087\u3046\u3002\u305f\u3060\u3057\u3001\u3059\u3079\u3066\u306e\u6848\u4ef6\u304cEXIT\u306b\u81f3\u308b\u308f\u3051\u3067\u306f\u306a\u3044\u305f\u3081\u3001\u3042\u304f\u307e\u3067<strong><span class=\"swl-marker mark_yellow\">\u6210\u529f\u4e8b\u4f8b\u306e\u3072\u3068\u3064\u3068\u3057\u3066\u6349\u3048\u3001\u30ea\u30b9\u30af\u3082\u8e0f\u307e\u3048\u305f\u6295\u8cc7\u5224\u65ad<\/span><\/strong>\u304c\u91cd\u8981\u3067\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306e\u30c7\u30e1\u30ea\u30c3\u30c8\u3084\u6ce8\u610f\u70b9<\/h2>\n\n\n\n<p>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306b\u306f\u9b45\u529b\u304c\u3042\u308b\u4e00\u65b9\u3067\u3001\u4e8b\u524d\u306b\u7406\u89e3\u3057\u3066\u304a\u304d\u305f\u3044\u30c7\u30e1\u30ea\u30c3\u30c8\u3084\u6ce8\u610f\u70b9\u3082\u3042\u308a\u307e\u3059\u3002\u7279\u306b<strong>\u672a\u4e0a\u5834\u682a\u5f0f\u3078\u306e\u6295\u8cc7<\/strong>\u3068\u3044\u3046\u7279\u6027\u4e0a\u3001<strong><span class=\"swl-marker mark_yellow\">\u4e00\u822c\u7684\u306a\u682a\u5f0f\u6295\u8cc7\u3068\u306f\u7570\u306a\u308b\u30ea\u30b9\u30af<\/span><\/strong>\u304c\u3042\u308b\u305f\u3081\u3001\u4ed5\u7d44\u307f\u3092\u7406\u89e3\u3057\u305f\u3046\u3048\u3067\u5224\u65ad\u3059\u308b\u3053\u3068\u304c\u91cd\u8981\u3067\u3059\u3002\u3053\u3053\u3067\u306f\u3001\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306e\u30c7\u30e1\u30ea\u30c3\u30c8\u3084\u6ce8\u610f\u70b9\u3092\u4ee5\u4e0b\u306e3\u3064\u306b\u3057\u307c\u3063\u3066\u89e3\u8aac\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<div class=\"wp-block-group has-border -border01\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<ul class=\"wp-block-list is-style-check_list\">\n<li><a href=\"#demerit1\">\u5143\u672c\u4fdd\u8a3c\u304c\u306a\u304f\u5012\u7523\u30ea\u30b9\u30af\u3082\u3042\u308b<\/a><\/li>\n\n\n\n<li><a href=\"#demerit2\">\u6d41\u52d5\u6027\u304c\u4f4e\u304f\u58f2\u5374\u3057\u306b\u304f\u3044<\/a><\/li>\n\n\n\n<li><a href=\"#demerit3\">\u30a8\u30f3\u30b8\u30a7\u30eb\u7a0e\u5236\u306b\u3088\u308b\u7bc0\u7a0e\u306a\u3069\u306e\u624b\u7d9a\u304d\u304c\u3084\u3084\u96e3\u3057\u3044<\/a><\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p>\u305d\u308c\u305e\u308c\u8a73\u3057\u304f\u898b\u3066\u3044\u304d\u307e\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"demerit1\">\u5143\u672c\u4fdd\u8a3c\u304c\u306a\u304f\u5012\u7523\u30ea\u30b9\u30af\u3082\u3042\u308b<\/h3>\n\n\n\n<p>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306e\u30c7\u30e1\u30ea\u30c3\u30c8\u3068\u3057\u3066\u5927\u304d\u3044\u306e\u304c\u3001<strong><span class=\"swl-marker mark_yellow\">\u5143\u672c\u4fdd\u8a3c\u304c\u306a\u304f\u3001\u6295\u8cc7\u5148\u306e\u5012\u7523\u30ea\u30b9\u30af\u304c\u3042\u308b<\/span><\/strong>\u70b9\u3067\u3059\u3002<strong>\u672a\u4e0a\u5834\u306e\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u4f01\u696d\u306f\u6210\u9577\u4f59\u5730\u304c\u5927\u304d\u3044\u53cd\u9762\u3001\u4e8b\u696d\u304c\u8ecc\u9053\u306b\u4e57\u3089\u305a\u306b\u5931\u6557\u3059\u308b\u53ef\u80fd\u6027<\/strong>\u3082\u4e00\u5b9a\u6570\u5b58\u5728\u3057\u307e\u3059\u3002\u305d\u306e\u305f\u3081\u3001<strong><span class=\"swl-marker mark_yellow\">\u6700\u60aa\u306e\u5834\u5408\u306f\u6295\u8cc7\u8cc7\u91d1\u304c\u56de\u53ce\u3067\u304d\u305a\u3001\u5143\u672c\u304c\u30bc\u30ed\u306b\u306a\u308b\u30b1\u30fc\u30b9<\/span><\/strong>\u3082\u8003\u3048\u3089\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u307e\u305f\u3001\u4e0a\u5834\u682a\u5f0f\u306e\u3088\u3046\u306b\u81ea\u7531\u306b\u58f2\u8cb7\u3067\u304d\u308b\u308f\u3051\u3067\u306f\u306a\u304f\u3001<strong><span class=\"swl-marker mark_yellow\">\u8cc7\u91d1\u304c\u9577\u671f\u9593\u62d8\u675f\u3055\u308c\u308b<\/span><\/strong>\u70b9\u3082\u6ce8\u610f\u304c\u5fc5\u8981\u3067\u3059\u3002<strong>\u9ad8\u3044\u30ea\u30bf\u30fc\u30f3\u304c\u671f\u5f85\u3067\u304d\u308b\u4e00\u65b9\u3067\u30ea\u30b9\u30af\u3082\u6bd4\u4f8b\u3057\u3066\u9ad8\u3044<\/strong>\u305f\u3081\u3001<strong><span class=\"swl-marker mark_yellow\">1\u793e\u306b\u96c6\u4e2d\u305b\u305a\u5206\u6563\u6295\u8cc7\u3092\u610f\u8b58\u3057\u3001\u4f59\u5270\u8cc7\u91d1\u3067\u884c\u3046<\/span><\/strong>\u3053\u3068\u304c\u91cd\u8981\u3068\u3044\u3048\u308b\u3067\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"demerit2\">\u6d41\u52d5\u6027\u304c\u4f4e\u304f\u58f2\u5374\u3057\u306b\u304f\u3044<\/h3>\n\n\n\n<p>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306e\u30c7\u30e1\u30ea\u30c3\u30c8\u3068\u3057\u3066\u3001<strong><span class=\"swl-marker mark_yellow\">\u6d41\u52d5\u6027\u306e\u4f4e\u3055<\/span><\/strong>\u3082\u3042\u3052\u3089\u308c\u307e\u3059\u3002<strong><span class=\"swl-marker mark_yellow\">\u672a\u4e0a\u5834\u682a\u5f0f\u306f\u8a3c\u5238\u53d6\u5f15\u6240\u306e\u3088\u3046\u306b\u81ea\u7531\u306b\u58f2\u8cb7\u3067\u304d\u308b\u5e02\u5834\u304c\u306a\u3044<\/span><\/strong>\u305f\u3081\u3001\u57fa\u672c\u7684\u306b\u306f<strong>IPO\u3084M&amp;A\u306a\u3069\u306e\u30bf\u30a4\u30df\u30f3\u30b0\u307e\u3067\u58f2\u5374\u3067\u304d\u307e\u305b\u3093<\/strong>\u3002<\/p>\n\n\n\n<p>\u305d\u306e\u305f\u3081\u3001<strong><span class=\"swl-marker mark_yellow\">\u4e00\u5ea6\u6295\u8cc7\u3059\u308b\u3068\u6570\u5e74\u5358\u4f4d\u3067\u8cc7\u91d1\u304c\u62d8\u675f\u3055\u308c\u308b\u53ef\u80fd\u6027<\/span><\/strong>\u304c\u3042\u308a\u3001<strong>\u9014\u4e2d\u3067\u73fe\u91d1\u5316\u3057\u305f\u3044\u5834\u5408\u3067\u3082\u5bfe\u5fdc\u304c\u96e3\u3057\u3044<\/strong>\u70b9\u306b\u306f\u6ce8\u610f\u304c\u5fc5\u8981\u3067\u3059\u3002\u77ed\u671f\u7684\u306a\u5229\u76ca\u3092\u72d9\u3046\u6295\u8cc7\u306b\u306f\u5411\u304b\u305a\u3001<strong>\u9577\u671f\u76ee\u7dda\u3067\u3058\u3063\u304f\u308a\u4fdd\u6709\u3059\u308b\u524d\u63d0\u3067\u691c\u8a0e<\/strong>\u3059\u308b\u3053\u3068\u304c\u91cd\u8981\u3068\u3044\u3048\u308b\u3067\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"demerit3\">\u30a8\u30f3\u30b8\u30a7\u30eb\u7a0e\u5236\u306b\u3088\u308b\u7bc0\u7a0e\u306a\u3069\u306e\u624b\u7d9a\u304d\u304c\u3084\u3084\u96e3\u3057\u3044<\/h3>\n\n\n\n<p>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306e\u30c7\u30e1\u30ea\u30c3\u30c8\u3068\u3057\u3066\u3001<strong><span class=\"swl-marker mark_yellow\">\u30a8\u30f3\u30b8\u30a7\u30eb\u7a0e\u5236\u306e\u624b\u7d9a\u304d\u304c\u3084\u3084\u8907\u96d1<\/span><\/strong>\u306a\u70b9\u3082\u3042\u3052\u3089\u308c\u307e\u3059\u3002\u5236\u5ea6\u3092\u5229\u7528\u3059\u308b\u306b\u306f\u3001<strong>\u5bfe\u8c61\u4f01\u696d\u3067\u3042\u308b\u3053\u3068\u306e\u78ba\u8a8d\u3084\u5fc5\u8981\u66f8\u985e\u306e\u53d6\u5f97\u3001\u78ba\u5b9a\u7533\u544a\u3067\u306e\u7533\u8acb\u306a\u3069\u8907\u6570\u306e\u30b9\u30c6\u30c3\u30d7<\/strong>\u3092\u8e0f\u3080\u5fc5\u8981\u304c\u3042\u308a\u307e\u3059\u3002\u307e\u305f\u3001<strong>\u7d66\u4e0e\u6240\u5f97\u8005\u3067\u3042\u3063\u3066\u3082\u5e74\u672b\u8abf\u6574\u3067\u306f\u5bfe\u5fdc\u3067\u304d\u305a<\/strong>\u3001<strong><span class=\"swl-marker mark_yellow\">\u5225\u9014\u78ba\u5b9a\u7533\u544a\u3092\u884c\u3046\u5fc5\u8981\u304c\u3042\u308b<\/span><\/strong>\u305f\u3081\u3001\u666e\u6bb5\u7533\u544a\u306b\u6163\u308c\u3066\u3044\u306a\u3044\u4eba\u306b\u3068\u3063\u3066\u306f\u8ca0\u62c5\u306b\u611f\u3058\u308b\u30b1\u30fc\u30b9\u3082\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u3055\u3089\u306b\u3001<strong>\u9069\u7528\u306b\u306f\u7d30\u304b\u306a\u6761\u4ef6\u304c\u3042\u308b<\/strong>\u305f\u3081\u3001<strong><span class=\"swl-marker mark_yellow\">\u4e8b\u524d\u306b\u5236\u5ea6\u5185\u5bb9\u3092\u7406\u89e3<\/span><\/strong>\u3057\u3066\u304a\u304f\u3053\u3068\u304c\u91cd\u8981\u3067\u3059\u3002\u7bc0\u7a0e\u30e1\u30ea\u30c3\u30c8\u306f\u5927\u304d\u3044\u4e00\u65b9\u3067\u3001\u624b\u9593\u3084\u30eb\u30fc\u30eb\u3082\u8e0f\u307e\u3048\u3066\u691c\u8a0e\u3059\u308b\u5fc5\u8981\u304c\u3042\u308b\u3067\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u30a4\u30fc\u30af\u30e9\u30a6\u30c9NEXT\u3068\u306f\uff1f\u901a\u5e38\u306e\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u3068\u306e\u9055\u3044<\/h2>\n\n\n\n<p>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306e\u65b0\u30b5\u30fc\u30d3\u30b9\u3067\u3042\u308b<strong>\u300c\u30a4\u30fc\u30af\u30e9\u30a6\u30c9NEXT\u300d<\/strong>\u306f\u3001<strong><span class=\"swl-marker mark_yellow\">\u5f93\u6765\u30b5\u30fc\u30d3\u30b9\u3092\u9032\u5316\u3055\u305b\u305f\u4e0a\u7d1a\u8005\u5411\u3051\u306e\u6295\u8cc7\u6a5f\u4f1a<\/span><\/strong>\u3068\u3044\u3048\u308b\u4ed5\u7d44\u307f\u3067\u3059\u3002\u901a\u5e38\u306e\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u3068\u306e\u9055\u3044\u3092\u7406\u89e3\u3059\u308b\u3068\u3001\u4f4d\u7f6e\u3065\u3051\u304c\u5206\u304b\u308a\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9NEXT\u3068\u306f\u3001\u8fd1\u3044\u5c06\u6765IPO\u3092\u76ee\u6307\u3059<strong>\u30df\u30c9\u30eb\u301c\u30ec\u30a4\u30bf\u30fc\u30b9\u30c6\u30fc\u30b8\u4f01\u696d\u306b\u6295\u8cc7\u3067\u304d\u308b\u300c\u4f1a\u54e1\u9650\u5b9a\u306e\u500b\u5225\u9298\u67c4\u30d5\u30a1\u30f3\u30c9\u300d<\/strong>\u3067\u3059\u3002<strong><span class=\"swl-marker mark_yellow\">1\u3064\u306e\u30d5\u30a1\u30f3\u30c9\u3067\u7279\u5b9a\u306e1\u793e\u306b\u6295\u8cc7\u3059\u308b\u4ed5\u7d44\u307f<\/span><\/strong>\u3067\u3001\u3088\u308a\u6210\u9577\u304c\u9032\u3093\u3060\u4f01\u696d\u306b\u96c6\u4e2d\u6295\u8cc7\u3067\u304d\u308b\u306e\u304c\u7279\u5fb4\u3067\u3059\u3002&nbsp;<\/p>\n\n\n\n<p>\u4e00\u65b9\u3001<strong><span class=\"swl-marker mark_yellow\">\u901a\u5e38\u306e\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306f\u30b7\u30fc\u30c9\u301c\u30a2\u30fc\u30ea\u30fc\u30b9\u30c6\u30fc\u30b8\u4e2d\u5fc3<\/span><\/strong>\u306e\u682a\u5f0f\u6295\u8cc7\u578b\u30af\u30e9\u30a6\u30c9\u30d5\u30a1\u30f3\u30c7\u30a3\u30f3\u30b0\u3067\u3001\u6bd4\u8f03\u7684\u521d\u671f\u6bb5\u968e\u306e\u4f01\u696d\u306b\u76f4\u63a5\u6295\u8cc7\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u4e3b\u306a\u9055\u3044\u306f\u4ee5\u4e0b\u306e\u901a\u308a\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 is-thead-centered\"><table style=\"--table-width:800px;\" class=\"has-fixed-layout\"><thead><tr><th><\/th><th>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9<\/th><th>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9NEXT<\/th><\/tr><\/thead><tbody><tr><th>\u6295\u8cc7\u5bfe\u8c61<\/th><td>\u30b7\u30fc\u30c9\u301c\u30a2\u30fc\u30ea\u30fc\u4f01\u696d\uff08\u521d\u671f\u6bb5\u968e\uff09<\/td><td>\u30df\u30c9\u30eb\u301c\u30ec\u30a4\u30bf\u30fc\u4f01\u696d<\/td><\/tr><tr><th>\u6295\u8cc7\u5f62\u5f0f<\/th><td>\u500b\u5225\u682a\u5f0f<\/td><td>\u30d5\u30a1\u30f3\u30c9\u578b\u6295\u8cc7<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>\u3064\u307e\u308a\u3001<strong><span class=\"swl-marker mark_yellow\">\u30a4\u30fc\u30af\u30e9\u30a6\u30c9NEXT\u306f\u300c\u3088\u308a\u4e0a\u5834\u306b\u8fd1\u3044\u4f01\u696d\u306b\u3001\u30d5\u30a1\u30f3\u30c9\u3092\u901a\u3058\u3066\u6295\u8cc7\u3059\u308b\u4ed5\u7d44\u307f\u300d<\/span><\/strong>\u3067\u3042\u308a\u3001<strong>\u30ea\u30bf\u30fc\u30f3\u306e\u78ba\u5ea6\u306f\u9ad8\u307e\u308a\u3084\u3059\u3044<\/strong>\u4e00\u65b9\u3067\u3001<strong>\u6295\u8cc7\u91d1\u984d\u3084\u53c2\u52a0\u30cf\u30fc\u30c9\u30eb\u306f\u3084\u3084\u9ad8\u304f\u306a\u308b\u50be\u5411<\/strong>\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u30a4\u30fc\u30af\u30e9\u30a6\u30c9NEXT\u3067\u6ce8\u76ee\u3055\u308c\u305f\u30d8\u30ea\u30ab\u30eb\u30fb\u6838\u878d\u5408\u6848\u4ef6\u3068\u306f\uff1f<\/h2>\n\n\n\n<p>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306e\u300c\u30a4\u30fc\u30af\u30e9\u30a6\u30c9NEXT\u300d\u3067\u6ce8\u76ee\u3092\u96c6\u3081\u305f\u306e\u304c\u3001<strong><span class=\"swl-marker mark_yellow\">\u6838\u878d\u5408\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u3067\u3042\u308bHelical Fusion\u3078\u306e\u6295\u8cc7\u6848\u4ef6<\/span><\/strong>\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u3053\u306e\u6848\u4ef6\u306f\u3001<strong>\u592a\u967d\u3068\u540c\u3058\u4ed5\u7d44\u307f\u3067\u30a8\u30cd\u30eb\u30ae\u30fc\u3092\u751f\u307f\u51fa\u3059\u300c\u6838\u878d\u5408\u767a\u96fb\u300d\u306e\u5b9f\u7528\u5316\u3092\u76ee\u6307\u3059<\/strong>\u3082\u306e\u3067\u3001\u7279\u306b<strong><span class=\"swl-marker mark_yellow\">\u30d8\u30ea\u30ab\u30eb\u65b9\u5f0f\u3068\u547c\u3070\u308c\u308b\u65e5\u672c\u767a\u306e\u6280\u8853\u306b\u53d6\u308a\u7d44\u3093\u3067\u3044\u308b<\/span><\/strong>\u70b9\u304c\u7279\u5fb4\u3067\u3059\u3002<strong>\u6838\u878d\u5408\u306f\u6b21\u4e16\u4ee3\u30a8\u30cd\u30eb\u30ae\u30fc\u3068\u3057\u3066\u671f\u5f85<\/strong>\u3055\u308c\u3066\u304a\u308a\u3001\u5b9f\u73fe\u3059\u308c\u3070\u8131\u70ad\u7d20\u3084\u30a8\u30cd\u30eb\u30ae\u30fc\u554f\u984c\u306e\u89e3\u6c7a\u306b\u3064\u306a\u304c\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9NEXT\u3067\u306f\u3001\u3053\u3046\u3057\u305f<strong><span class=\"swl-marker mark_yellow\">\u6700\u5148\u7aef\u5206\u91ce\u304b\u3064IPO\u3092\u8996\u91ce\u306b\u5165\u308c\u305f\u4f01\u696d\u306b\u6295\u8cc7\u3067\u304d\u308b<\/span><\/strong>\u305f\u3081\u3001\u300c\u5922\u306e\u3042\u308b\u5927\u578b\u30c6\u30fc\u30de\u306b\u500b\u4eba\u304c\u53c2\u52a0\u3067\u304d\u308b\u300d\u3068\u3057\u3066\u8a71\u984c\u306b\u306a\u308a\u307e\u3057\u305f\u3002\u4e00\u65b9\u3067\u3001<strong>\u6280\u8853\u7684\u30cf\u30fc\u30c9\u30eb\u304c\u975e\u5e38\u306b\u9ad8\u304f\u3001\u5b9f\u7528\u5316\u307e\u3067\u6642\u9593\u304c\u304b\u304b\u308b<\/strong>\u70b9\u304b\u3089\u3001<strong>\u30cf\u30a4\u30ea\u30b9\u30af\u30fb\u30cf\u30a4\u30ea\u30bf\u30fc\u30f3\u306a\u6848\u4ef6<\/strong>\u3068\u3057\u3066\u614e\u91cd\u306a\u898b\u65b9\u3082\u3055\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u30d5\u30a1\u30f3\u30c7\u30a3\u30fc\u30ce\u3084CF Angels\u3068\u306e\u9055\u3044\u3092\u6bd4\u8f03<\/h2>\n\n\n\n<p>\u682a\u5f0f\u6295\u8cc7\u578b\u30af\u30e9\u30a6\u30c9\u30d5\u30a1\u30f3\u30c7\u30a3\u30f3\u30b0\u306f\u8907\u6570\u3042\u308a\u307e\u3059\u304c\u3001<strong>\u30b5\u30fc\u30d3\u30b9\u3054\u3068\u306b\u300c\u6848\u4ef6\u306e\u8cea\u30fb\u30b9\u30c6\u30fc\u30b8\u30fb\u6295\u8cc7\u30b9\u30bf\u30a4\u30eb\u300d\u306b\u9055\u3044<\/strong>\u304c\u3042\u308a\u307e\u3059\u3002\u4ee3\u8868\u7684\u306a3\u793e\u3092\u6bd4\u8f03\u3059\u308b\u3068\u4ee5\u4e0b\u306e\u901a\u308a\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 is-thead-centered\"><table style=\"--table-width:800px;\" class=\"has-fixed-layout\"><thead><tr><th>\u30af\u30e9\u30d5\u30a1\u30f3<\/th><th>\u30a4\u30fc\u30af\u30e9\u30a6\u30c9<\/th><th>\u30d5\u30a1\u30f3\u30c7\u30a3\u30fc\u30ce<\/th><th>CF Angels<\/th><\/tr><\/thead><tbody><tr><th>\u6295\u8cc7\u5bfe\u8c61<\/th><td>\u53b3\u9078\u3055\u308c\u305f\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7<\/td><td>\u5e45\u5e83\u3044\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7<\/td><td>\u6210\u9577\u6027\u91cd\u8996\u306e\u53b3\u9078\u4f01\u696d<\/td><\/tr><tr><th>\u30b9\u30c6\u30fc\u30b8<\/th><td>\u30b7\u30fc\u30c9\uff5e\u30df\u30c9\u30eb<\/td><td>\u30b7\u30fc\u30c9\uff5e\u30a2\u30fc\u30ea\u30fc\u4e2d\u5fc3<\/td><td>\u30a2\u30fc\u30ea\u30fc\uff5e\u30df\u30c9\u30eb<\/td><\/tr><tr><th>\u6848\u4ef6\u6570<\/th><td>\u5c11\u306a\u3081<\/td><td>\u591a\u3081<\/td><td>\u5c11\u306a\u3081<\/td><\/tr><tr><th>\u7279\u5fb4<\/th><td>\u5927\u548c\u8a3c\u5238\u7cfb\u306e\u4fe1\u983c\u611f\u304c\u3042\u308b<\/td><td>\u56fd\u5185\u6700\u5927\u7d1a\u306e\u5b9f\u7e3e\u304c\u3042\u308b<\/td><td>\u30cf\u30a4\u30ea\u30bf\u30fc\u30f3\u5fd7\u5411<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" width=\"603\" height=\"803\" src=\"https:\/\/www.nipponkaigishitsu.com\/column\/wp-content\/uploads\/2026\/04\/image-7.png\" alt=\"\" class=\"wp-image-4293\" style=\"aspect-ratio:0.7509437633780891;width:367px;height:auto\" srcset=\"https:\/\/www.nipponkaigishitsu.com\/column\/wp-content\/uploads\/2026\/04\/image-7.png 603w, https:\/\/www.nipponkaigishitsu.com\/column\/wp-content\/uploads\/2026\/04\/image-7-225x300.png 225w\" sizes=\"(max-width: 603px) 100vw, 603px\" \/><\/figure>\n<\/div>\n\n\n<p>\u305d\u308c\u305e\u308c\u7279\u5fb4\u304c\u7570\u306a\u308a\u3001<strong><span class=\"swl-marker mark_yellow\">\u30a4\u30fc\u30af\u30e9\u30a6\u30c9\u306f\u300c\u53b3\u9078\u578b\u3067\u30d0\u30e9\u30f3\u30b9\u91cd\u8996\u300d<\/span><\/strong>\u3001<strong><span class=\"swl-marker mark_yellow\">\u30d5\u30a1\u30f3\u30c7\u30a3\u30fc\u30ce\u306f\u300c\u6848\u4ef6\u6570\u304c\u591a\u304f\u9078\u629e\u80a2\u304c\u8c4a\u5bcc\u300d<\/span><\/strong>\u3002<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" width=\"555\" height=\"731\" src=\"https:\/\/www.nipponkaigishitsu.com\/column\/wp-content\/uploads\/2026\/04\/image-6.png\" alt=\"\" class=\"wp-image-4292\" style=\"aspect-ratio:0.7592501549708227;width:352px;height:auto\" srcset=\"https:\/\/www.nipponkaigishitsu.com\/column\/wp-content\/uploads\/2026\/04\/image-6.png 555w, https:\/\/www.nipponkaigishitsu.com\/column\/wp-content\/uploads\/2026\/04\/image-6-228x300.png 228w\" sizes=\"(max-width: 555px) 100vw, 555px\" \/><\/figure>\n<\/div>\n\n\n<p>\u4e00\u65b9\u3001<strong><span class=\"swl-marker mark_yellow\">CF Angels\u306f\u300c\u3088\u308a\u30cf\u30a4\u30ea\u30bf\u30fc\u30f3\u3092\u72d9\u3046\u6295\u8cc7\u5bb6\u5411\u3051\u300d<\/span><\/strong>\u3068\u3044\u3063\u305f\u4f4d\u7f6e\u3065\u3051\u3067\u3059\u3002<\/p>\n\n\n\n<p><strong>\u521d\u5fc3\u8005\u3067\u3042\u308c\u3070\u60c5\u5831\u958b\u793a\u3084\u30b5\u30dd\u30fc\u30c8\u304c\u6bd4\u8f03\u7684\u5206\u304b\u308a\u3084\u3059\u3044\u30a4\u30fc\u30af\u30e9\u30a6\u30c9<\/strong>\u3001<strong>\u7a4d\u6975\u7684\u306b\u591a\u304f\u306e\u6848\u4ef6\u3092\u6bd4\u8f03\u3057\u305f\u3044\u306a\u3089\u30d5\u30a1\u30f3\u30c7\u30a3\u30fc\u30ce<\/strong>\u3001<strong>\u5927\u304d\u306a\u30ea\u30bf\u30fc\u30f3\u3092\u72d9\u3063\u3066\u30ea\u30b9\u30af\u3092\u53d6\u308c\u308b\u306a\u3089CF 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