{"id":1403,"date":"2024-07-22T09:00:00","date_gmt":"2024-07-22T00:00:00","guid":{"rendered":"http:\/\/18.179.16.182\/jigyou_shokei\/?p=1403"},"modified":"2024-07-22T15:51:28","modified_gmt":"2024-07-22T06:51:28","slug":"lbo%e3%83%ac%e3%83%90%e3%83%ac%e3%83%83%e3%82%b8%e3%83%89%e3%83%bb%e3%83%90%e3%82%a4%e3%82%a2%e3%82%a6%e3%83%88%e3%81%a8%e3%81%af-%e8%b3%87%e9%87%91%e3%81%ae%e9%ad%94%e6%b3%95%e3%82%92%e4%bd%bf","status":"publish","type":"post","link":"https:\/\/librus.co.jp\/jigyou_shokei\/new\/succession\/1403","title":{"rendered":"LBO(\u30ec\u30d0\u30ec\u30c3\u30b8\u30c9\u30fb\u30d0\u30a4\u30a2\u30a6\u30c8)\u3068\u306f: \u8cc7\u91d1\u306e\u9b54\u6cd5\u3092\u4f7f\u3063\u3066\u4f01\u696d\u8cb7\u53ce\u3092\u5b9f\u73fe\u3059\u308b\u753b\u671f\u7684\u306a\u624b\u6cd5"},"content":{"rendered":"<div class=\"post_image\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/18.179.16.182\/jigyou_shokei\/wp-content\/uploads\/2024\/05\/\u30b9\u30af\u30ea\u30fc\u30f3\u30b7\u30e7\u30c3\u30c8-2024-05-01-035959.png\" alt=\"\" width=\"1140\" height=\"636\" class=\"alignnone wp-image-1407\" \/><\/div>\r\n<span><span style=\"vertical-align: inherit;\"><span style=\"vertical-align: inherit;\">\u8cc7\u91d1\u3092\u9b54\u6cd5\u306e\u3088\u3046\u306b\u6d3b\u7528\u3057\u3066\u4f01\u696d\u8cb7\u53ce\u3092\u5b9f\u73fe\u3059\u308bLBO(\u30ec\u30d0\u30ec\u30c3\u30b8\u30c9\u30fb\u30d0\u30a4\u30a2\u30a6\u30c8)\u3002\u5c11\u306a\u3044\u81ea\u5df1\u8cc7\u91d1\u3067\u5927\u304d\u306a\u30d3\u30b8\u30cd\u30b9\u30c1\u30e3\u30f3\u30b9\u3092\u3064\u304b\u3080\u65b9\u6cd5\u3068\u306f\uff1f<\/span><\/span><\/span>\r\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/librus.co.jp\/jigyou_shokei\/new\/succession\/1403\/#LBO%EF%BC%88%E3%83%AC%E3%83%90%E3%83%AC%E3%83%83%E3%82%B8%E3%83%89%E3%83%90%E3%82%A4%E3%82%A2%E3%82%A6%E3%83%88%EF%BC%89%E3%81%AE%E6%84%8F%E5%91%B3%E3%82%84%E4%BB%95%E7%B5%84%E3%81%BF%E3%81%A8%E3%81%AF\" title=\"LBO\uff08\u30ec\u30d0\u30ec\u30c3\u30b8\u30c9\u30d0\u30a4\u30a2\u30a6\u30c8\uff09\u306e\u610f\u5473\u3084\u4ed5\u7d44\u307f\u3068\u306f\">LBO\uff08\u30ec\u30d0\u30ec\u30c3\u30b8\u30c9\u30d0\u30a4\u30a2\u30a6\u30c8\uff09\u306e\u610f\u5473\u3084\u4ed5\u7d44\u307f\u3068\u306f<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/librus.co.jp\/jigyou_shokei\/new\/succession\/1403\/#LBO%E3%81%AE%E7%9B%AE%E7%9A%84\" title=\"LBO\u306e\u76ee\u7684\">LBO\u306e\u76ee\u7684<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/librus.co.jp\/jigyou_shokei\/new\/succession\/1403\/#LBO%E3%81%AE%E4%BB%95%E7%B5%84%E3%81%BF\" title=\"LBO\u306e\u4ed5\u7d44\u307f\">LBO\u306e\u4ed5\u7d44\u307f<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/librus.co.jp\/jigyou_shokei\/new\/succession\/1403\/#LBO%E3%81%A8MBO%E3%83%BBEBO%E3%81%AE%E9%81%95%E3%81%84\" title=\"LBO\u3068MBO\u30fbEBO\u306e\u9055\u3044\">LBO\u3068MBO\u30fbEBO\u306e\u9055\u3044<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/librus.co.jp\/jigyou_shokei\/new\/succession\/1403\/#MBO%E3%81%AE%E9%9A%9B%E3%81%ABLBO%E3%81%8C%E5%88%A9%E7%94%A8%E3%81%95%E3%82%8C%E3%82%8B%E3%81%93%E3%81%A8%E3%81%8C%E5%A4%9A%E3%81%84%E7%90%86%E7%94%B1\" title=\"MBO\u306e\u969b\u306bLBO\u304c\u5229\u7528\u3055\u308c\u308b\u3053\u3068\u304c\u591a\u3044\u7406\u7531\">MBO\u306e\u969b\u306bLBO\u304c\u5229\u7528\u3055\u308c\u308b\u3053\u3068\u304c\u591a\u3044\u7406\u7531<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/librus.co.jp\/jigyou_shokei\/new\/succession\/1403\/#LBO%E3%81%AE%E6%B5%81%E3%82%8C%E3%81%AE%E4%B8%80%E8%88%AC%E7%9A%84%E3%81%AA%E6%89%8B%E9%A0%86\" title=\"LBO\u306e\u6d41\u308c\u306e\u4e00\u822c\u7684\u306a\u624b\u9806\">LBO\u306e\u6d41\u308c\u306e\u4e00\u822c\u7684\u306a\u624b\u9806<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" 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title=\"\u878d\u8cc7\u3092\u53d7\u3051\u308b\u305f\u3081\u306e\u6761\u4ef6\">\u878d\u8cc7\u3092\u53d7\u3051\u308b\u305f\u3081\u306e\u6761\u4ef6<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/librus.co.jp\/jigyou_shokei\/new\/succession\/1403\/#%E4%BC%81%E6%A5%AD%E3%81%AE%E8%B2%B7%E5%8F%8E%E3%82%92%E5%AE%9F%E8%A1%8C%E3%81%99%E3%82%8B\" title=\"\u4f01\u696d\u306e\u8cb7\u53ce\u3092\u5b9f\u884c\u3059\u308b\">\u4f01\u696d\u306e\u8cb7\u53ce\u3092\u5b9f\u884c\u3059\u308b<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/librus.co.jp\/jigyou_shokei\/new\/succession\/1403\/#%E8%B2%B7%E5%8F%8E%E5%AF%BE%E8%B1%A1%E4%BC%81%E6%A5%AD%E3%81%A8SPC%E3%82%92%E5%90%88%E4%BD%B5%E3%81%99%E3%82%8B\" title=\"\u8cb7\u53ce\u5bfe\u8c61\u4f01\u696d\u3068SPC\u3092\u5408\u4f75\u3059\u308b\">\u8cb7\u53ce\u5bfe\u8c61\u4f01\u696d\u3068SPC\u3092\u5408\u4f75\u3059\u308b<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/librus.co.jp\/jigyou_shokei\/new\/succession\/1403\/#%E8%9E%8D%E8%B3%87%E5%85%88%E3%81%AB%E5%80%9F%E5%85%A5%E9%87%91%E3%82%92%E8%BF%94%E6%B8%88%E3%81%99%E3%82%8B\" title=\"\u878d\u8cc7\u5148\u306b\u501f\u5165\u91d1\u3092\u8fd4\u6e08\u3059\u308b\">\u878d\u8cc7\u5148\u306b\u501f\u5165\u91d1\u3092\u8fd4\u6e08\u3059\u308b<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/librus.co.jp\/jigyou_shokei\/new\/succession\/1403\/#LBO%E3%83%AC%E3%83%90%E3%83%AC%E3%83%83%E3%82%B8%E3%83%89%E3%83%BB%E3%83%90%E3%82%A4%E3%82%A2%E3%82%A6%E3%83%88%E3%81%AE%E6%B3%A8%E6%84%8F%E7%82%B9\" title=\"LBO(\u30ec\u30d0\u30ec\u30c3\u30b8\u30c9\u30fb\u30d0\u30a4\u30a2\u30a6\u30c8)\u306e\u6ce8\u610f\u70b9\">LBO(\u30ec\u30d0\u30ec\u30c3\u30b8\u30c9\u30fb\u30d0\u30a4\u30a2\u30a6\u30c8)\u306e\u6ce8\u610f\u70b9<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/librus.co.jp\/jigyou_shokei\/new\/succession\/1403\/#_%E8%B2%A1%E5%8B%99%E3%83%AA%E3%82%B9%E3%82%AF%E3%81%AE%E7%AE%A1%E7%90%86\" title=\"\u00a0\u8ca1\u52d9\u30ea\u30b9\u30af\u306e\u7ba1\u7406\">\u00a0\u8ca1\u52d9\u30ea\u30b9\u30af\u306e\u7ba1\u7406<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/librus.co.jp\/jigyou_shokei\/new\/succession\/1403\/#_%E4%BC%81%E6%A5%AD%E4%BE%A1%E5%80%A4%E3%81%AE%E9%81%A9%E5%88%87%E3%81%AA%E8%A9%95%E4%BE%A1\" title=\"\u00a0\u4f01\u696d\u4fa1\u5024\u306e\u9069\u5207\u306a\u8a55\u4fa1\">\u00a0\u4f01\u696d\u4fa1\u5024\u306e\u9069\u5207\u306a\u8a55\u4fa1<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/librus.co.jp\/jigyou_shokei\/new\/succession\/1403\/#%E6%88%90%E9%95%B7%E6%88%A6%E7%95%A5%E3%81%AE%E5%AE%9F%E8%A1%8C\" title=\"\u6210\u9577\u6226\u7565\u306e\u5b9f\u884c\">\u6210\u9577\u6226\u7565\u306e\u5b9f\u884c<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/librus.co.jp\/jigyou_shokei\/new\/succession\/1403\/#%E5%B8%82%E5%A0%B4%E7%92%B0%E5%A2%83%E3%81%AE%E5%A4%89%E5%8C%96%E3%81%B8%E3%81%AE%E5%AF%BE%E5%BF%9C\" title=\"\u5e02\u5834\u74b0\u5883\u306e\u5909\u5316\u3078\u306e\u5bfe\u5fdc\">\u5e02\u5834\u74b0\u5883\u306e\u5909\u5316\u3078\u306e\u5bfe\u5fdc<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/librus.co.jp\/jigyou_shokei\/new\/succession\/1403\/#LBO%E3%81%AE%E3%83%AA%E3%82%B9%E3%82%AF%E3%81%A8%E8%AA%B2%E9%A1%8C\" title=\"LBO\u306e\u30ea\u30b9\u30af\u3068\u8ab2\u984c\">LBO\u306e\u30ea\u30b9\u30af\u3068\u8ab2\u984c<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/librus.co.jp\/jigyou_shokei\/new\/succession\/1403\/#%E3%83%AD%E3%83%BC%E3%83%B3%E5%9E%8BMBO%E3%81%AB%E3%82%88%E3%82%8B%E4%BA%8B%E6%A5%AD%E6%89%BF%E7%B6%99\" title=\"\u30ed\u30fc\u30f3\u578bMBO\u306b\u3088\u308b\u4e8b\u696d\u627f\u7d99\">\u30ed\u30fc\u30f3\u578bMBO\u306b\u3088\u308b\u4e8b\u696d\u627f\u7d99<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/librus.co.jp\/jigyou_shokei\/new\/succession\/1403\/#%E3%83%AD%E3%83%BC%E3%83%B3%E5%9E%8BMBO%E3%81%AE%E6%A6%82%E8%A6%81%E3%81%A8%E7%89%B9%E5%BE%B4\" title=\"\u30ed\u30fc\u30f3\u578bMBO\u306e\u6982\u8981\u3068\u7279\u5fb4\">\u30ed\u30fc\u30f3\u578bMBO\u306e\u6982\u8981\u3068\u7279\u5fb4<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/librus.co.jp\/jigyou_shokei\/new\/succession\/1403\/#%E3%83%AD%E3%83%BC%E3%83%B3%E5%9E%8BMBO%E3%81%AE%E3%83%A1%E3%83%AA%E3%83%83%E3%83%88%E3%81%A8%E3%83%87%E3%83%A1%E3%83%AA%E3%83%83%E3%83%88\" title=\"\u30ed\u30fc\u30f3\u578bMBO\u306e\u30e1\u30ea\u30c3\u30c8\u3068\u30c7\u30e1\u30ea\u30c3\u30c8\">\u30ed\u30fc\u30f3\u578bMBO\u306e\u30e1\u30ea\u30c3\u30c8\u3068\u30c7\u30e1\u30ea\u30c3\u30c8<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/librus.co.jp\/jigyou_shokei\/new\/succession\/1403\/#LBO%E3%81%AE%E6%88%90%E5%8A%9F%E4%BA%8B%E4%BE%8B%E3%81%A8%E5%A4%B1%E6%95%97%E4%BA%8B%E4%BE%8B\" title=\"LBO\u306e\u6210\u529f\u4e8b\u4f8b\u3068\u5931\u6557\u4e8b\u4f8b\">LBO\u306e\u6210\u529f\u4e8b\u4f8b\u3068\u5931\u6557\u4e8b\u4f8b<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/librus.co.jp\/jigyou_shokei\/new\/succession\/1403\/#%E3%81%BE%E3%81%A8%E3%82%81\" title=\"\u307e\u3068\u3081\">\u307e\u3068\u3081<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"LBO%EF%BC%88%E3%83%AC%E3%83%90%E3%83%AC%E3%83%83%E3%82%B8%E3%83%89%E3%83%90%E3%82%A4%E3%82%A2%E3%82%A6%E3%83%88%EF%BC%89%E3%81%AE%E6%84%8F%E5%91%B3%E3%82%84%E4%BB%95%E7%B5%84%E3%81%BF%E3%81%A8%E3%81%AF\"><\/span>LBO\uff08\u30ec\u30d0\u30ec\u30c3\u30b8\u30c9\u30d0\u30a4\u30a2\u30a6\u30c8\uff09\u306e\u610f\u5473\u3084\u4ed5\u7d44\u307f\u3068\u306f<span class=\"ez-toc-section-end\"><\/span><\/h2>\r\nLBO\uff08\u30ec\u30d0\u30ec\u30c3\u30b8\u30c9\u30d0\u30a4\u30a2\u30a6\u30c8\uff09\u306f\u3001\u4f01\u696d\u8cb7\u53ce\u306e\u624b\u6cd5\u306e\u4e00\u3064\u3067\u3042\u308a\u3001\u8cb7\u53ce\u8cc7\u91d1\u306e\u5927\u90e8\u5206\u3092\u501f\u5165\u91d1\u3067\u8cc4\u3044\u3001\u8cb7\u53ce\u5bfe\u8c61\u4f01\u696d\u306e\u81ea\u5df1\u8cc7\u672c\u6bd4\u7387\u3092\u4f4e\u304f\u3057\u3001\u501f\u5165\u91d1\u3092\u8fd4\u6e08\u3059\u308b\u3053\u3068\u3067\u53ce\u76ca\u3092\u6700\u5927\u5316\u3059\u308b\u6226\u7565\u3067\u3059\u3002LBO\u306f\u901a\u5e38\u3001\u6c11\u9593\u8cc7\u672c\uff08PE\u30d5\u30a1\u30f3\u30c9\uff09\u3084\u4ed6\u306e\u4f01\u696d\u306b\u3088\u3063\u3066\u5b9f\u65bd\u3055\u308c\u307e\u3059\u3002\r\n<h3><span class=\"ez-toc-section\" id=\"LBO%E3%81%AE%E7%9B%AE%E7%9A%84\"><\/span>LBO\u306e\u76ee\u7684<span class=\"ez-toc-section-end\"><\/span><\/h3>\r\nLBO\u306e\u4e3b\u306a\u76ee\u7684\u306f\u3001\u8cb7\u53ce\u3057\u305f\u4f01\u696d\u3092\u52b9\u7387\u7684\u306b\u518d\u7de8\u3057\u3001\u305d\u306e\u4fa1\u5024\u3092\u6700\u5927\u5316\u3059\u308b\u3053\u3068\u3067\u3059\u3002\u3053\u308c\u306f\u3001\u8cb7\u53ce\u4f01\u696d\u306e\u6210\u9577\u3084\u6539\u5584\u3092\u901a\u3058\u3066\u3001\u6295\u8cc7\u5bb6\u3084\u8cb7\u53ce\u4f01\u696d\u306e\u5229\u76ca\u3092\u6700\u5927\u5316\u3059\u308b\u3053\u3068\u3092\u610f\u5473\u3057\u307e\u3059\u3002\r\n\r\n\u7d4c\u55b6\u9663\u304cLBO\u3092\u691c\u8a0e\u3059\u308b<strong>\u4e3b\u306a\u76ee\u7684<\/strong>\u306f\u3001\u4ee5\u4e0b\u306e\u901a\u308a\u3067\u3059\u3002\r\n\r\n<strong>\u682a\u4e3b\u4fa1\u5024\u306e\u6700\u5927\u5316\u3092\u56f3\u308b<\/strong>\r\n\r\n<strong>\u4f01\u696d\u518d\u7de8\u3084\u4e8b\u696d\u518d\u751f\u3092\u4fc3\u9032\u3059\u308b<\/strong>\r\n\r\n<strong>\u9577\u671f\u7684\u306a\u6210\u9577\u6226\u7565\u306e\u5b9f\u884c<\/strong>\r\n<h3><span class=\"ez-toc-section\" id=\"LBO%E3%81%AE%E4%BB%95%E7%B5%84%E3%81%BF\"><\/span>LBO\u306e\u4ed5\u7d44\u307f<span class=\"ez-toc-section-end\"><\/span><\/h3>\r\n<div class=\"post_image\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/18.179.16.182\/jigyou_shokei\/wp-content\/uploads\/2024\/05\/\u30d7\u30ec\u30bc\u30f3\u30c6\u30fc\u30b7\u30e7\u30f32.jpg\" alt=\"\" width=\"771\" height=\"434\" class=\"alignnone wp-image-1404\" \/><\/div>\r\nLBO\u306e\u4ed5\u7d44\u307f\u306f\u3001<strong>\u4ee5\u4e0b\u306e\u624b\u9806<\/strong>\u306b\u57fa\u3065\u3044\u3066\u3044\u307e\u3059\r\n\r\n<strong>PE\u30d5\u30a1\u30f3\u30c9\u3084\u8cb7\u53ce\u4f01\u696d\u304c\u3001\u8cb7\u53ce\u5bfe\u8c61\u4f01\u696d\u306e\u682a\u5f0f\u306e\u904e\u534a\u6570\u4ee5\u4e0a\u3092\u53d6\u5f97\u3057\u307e\u3059\u3002<\/strong>\r\n\r\n<strong>\u501f\u5165\u91d1\u3084\u4ed6\u306e\u30d5\u30a1\u30a4\u30ca\u30f3\u30b9\u624b\u6bb5\u3092\u6d3b\u7528\u3057\u3066\u3001\u8cb7\u53ce\u306b\u5fc5\u8981\u306a\u8cc7\u91d1\u3092\u8abf\u9054\u3057\u307e\u3059\u3002<\/strong>\r\n\r\n<strong>\u8cb7\u53ce\u4f01\u696d\u306f\u3001\u53d6\u5f97\u3057\u305f\u4f01\u696d\u306e\u904b\u55b6\u3092\u6539\u5584\u3057\u3001\u305d\u306e\u4fa1\u5024\u3092\u9ad8\u3081\u308b\u305f\u3081\u306e\u6226\u7565\u3092\u5b9f\u65bd\u3057\u307e\u3059\u3002<\/strong>\r\n<h3><span class=\"ez-toc-section\" id=\"LBO%E3%81%A8MBO%E3%83%BBEBO%E3%81%AE%E9%81%95%E3%81%84\"><\/span>LBO\u3068MBO\u30fbEBO\u306e\u9055\u3044<span class=\"ez-toc-section-end\"><\/span><\/h3>\r\nLBO\u3001MBO\uff08\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u30fb\u30d0\u30a4\u30a2\u30a6\u30c8\uff09\u3001\u304a\u3088\u3073EBO\uff08Employee Buyout\uff09\u306f\u3001\u305d\u308c\u305e\u308c\u7570\u306a\u308b\u8cb7\u53ce\u624b\u6cd5\u3067\u3059\u3002\r\n\r\n<strong>LBO<\/strong>\uff1a\u5916\u90e8\u6295\u8cc7\u5bb6\u3084\u4f01\u696d\u304c\u4f01\u696d\u3092\u8cb7\u53ce\u3059\u308b\u624b\u6cd5\u3002\r\n\r\n<strong>MBO<\/strong>\uff1a\u73fe\u5728\u306e\u7d4c\u55b6\u9663\u304c\u4f01\u696d\u3092\u8cb7\u53ce\u3059\u308b\u624b\u6cd5\u3002\r\n\r\n<strong>EBO<\/strong>\uff1a\u5f93\u696d\u54e1\u304c\u4f01\u696d\u3092\u8cb7\u53ce\u3059\u308b\u624b\u6cd5\u3002\r\n<h3><span class=\"ez-toc-section\" id=\"MBO%E3%81%AE%E9%9A%9B%E3%81%ABLBO%E3%81%8C%E5%88%A9%E7%94%A8%E3%81%95%E3%82%8C%E3%82%8B%E3%81%93%E3%81%A8%E3%81%8C%E5%A4%9A%E3%81%84%E7%90%86%E7%94%B1\"><\/span>MBO\u306e\u969b\u306bLBO\u304c\u5229\u7528\u3055\u308c\u308b\u3053\u3068\u304c\u591a\u3044\u7406\u7531<span class=\"ez-toc-section-end\"><\/span><\/h3>\r\nMBO\u306e\u969b\u306bLBO\u304c\u5229\u7528\u3055\u308c\u308b\u7406\u7531\u306f\u3001\u7d4c\u55b6\u9663\u304c\u4f01\u696d\u3092\u8cb7\u53ce\u3059\u308b\u5834\u5408\u3001\u5f7c\u3089\u306f\u5341\u5206\u306a\u81ea\u5df1\u8cc7\u672c\u3092\u6301\u3063\u3066\u3044\u306a\u3044\u3053\u3068\u304c\u4e00\u822c\u7684\u3060\u304b\u3089\u3067\u3059\u3002\u305d\u306e\u305f\u3081\u3001\u9280\u884c\u3084\u4ed6\u306e\u91d1\u878d\u6a5f\u95a2\u304b\u3089\u306e\u501f\u5165\u91d1\u3092\u5fc5\u8981\u3068\u3057\u3001LBO\u304c\u3088\u308a\u4e00\u822c\u7684\u306b\u5229\u7528\u3055\u308c\u307e\u3059\u3002\r\n<h2><span class=\"ez-toc-section\" id=\"LBO%E3%81%AE%E6%B5%81%E3%82%8C%E3%81%AE%E4%B8%80%E8%88%AC%E7%9A%84%E3%81%AA%E6%89%8B%E9%A0%86\"><\/span>LBO\u306e\u6d41\u308c\u306e\u4e00\u822c\u7684\u306a\u624b\u9806<span class=\"ez-toc-section-end\"><\/span><\/h2>\r\nLBO\uff08\u30ec\u30d0\u30ec\u30c3\u30b8\u30c9\u30d0\u30a4\u30a2\u30a6\u30c8\uff09\u306f\u3001\u4f01\u696d\u8cb7\u53ce\u306e\u624b\u6cd5\u306e\u4e00\u3064\u3067\u3042\u308a\u3001\u305d\u306e\u4e00\u822c\u7684\u306a\u624b\u9806\u306f\u4ee5\u4e0b\u306e\u901a\u308a\u3067\u3059\u3002\r\n<div class=\"post_image\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/18.179.16.182\/jigyou_shokei\/wp-content\/uploads\/2024\/05\/LBO.jpg\" alt=\"\" width=\"1280\" height=\"720\" class=\"alignnone size-full wp-image-1405\" \/><\/div>\r\n<h3><span class=\"ez-toc-section\" id=\"SPC%E3%82%92%E8%A8%AD%E7%AB%8B%E3%81%99%E3%82%8B\"><\/span>SPC\u3092\u8a2d\u7acb\u3059\u308b<span class=\"ez-toc-section-end\"><\/span><\/h3>\r\n\u307e\u305a\u3001\u8cb7\u53ce\u3092\u884c\u3046\u7279\u5225\u76ee\u7684\u4f1a\u793e\uff08SPC\uff09\u3092\u8a2d\u7acb\u3057\u307e\u3059\u3002SPC\u306f\u3001\u8cb7\u53ce\u306e\u305f\u3081\u306e\u8cc7\u91d1\u8abf\u9054\u3084\u4f01\u696d\u306e\u8cb7\u53ce\u3092\u5b9f\u884c\u3059\u308b\u4e3b\u4f53\u3068\u306a\u308a\u307e\u3059\u3002\r\n<h3><span class=\"ez-toc-section\" id=\"%E9%87%91%E8%9E%8D%E6%A9%9F%E9%96%A2%E3%81%AA%E3%81%A9%E3%81%8B%E3%82%89%E8%B3%87%E9%87%91%E8%AA%BF%E9%81%94%E3%81%99%E3%82%8B\"><\/span>\u91d1\u878d\u6a5f\u95a2\u306a\u3069\u304b\u3089\u8cc7\u91d1\u8abf\u9054\u3059\u308b<span class=\"ez-toc-section-end\"><\/span><\/h3>\r\n\u6b21\u306b\u3001SPC\u306f\u91d1\u878d\u6a5f\u95a2\u3084\u4ed6\u306e\u6295\u8cc7\u5bb6\u304b\u3089\u8cc7\u91d1\u3092\u8abf\u9054\u3057\u307e\u3059\u3002\u3053\u308c\u306b\u306f\u3001\u9280\u884c\u304b\u3089\u306e\u878d\u8cc7\u3084\u50b5\u5238\u306e\u767a\u884c\u306a\u3069\u304c\u542b\u307e\u308c\u307e\u3059\u3002\r\n<h3><span class=\"ez-toc-section\" id=\"%E8%9E%8D%E8%B3%87%E3%82%92%E5%8F%97%E3%81%91%E3%82%8B%E3%81%9F%E3%82%81%E3%81%AE%E6%9D%A1%E4%BB%B6\"><\/span>\u878d\u8cc7\u3092\u53d7\u3051\u308b\u305f\u3081\u306e\u6761\u4ef6<span class=\"ez-toc-section-end\"><\/span><\/h3>\r\n\u878d\u8cc7\u3092\u53d7\u3051\u308b\u305f\u3081\u306b\u306f\u3001\u8cb7\u53ce\u8a08\u753b\u3084\u8ca1\u52d9\u72b6\u6cc1\u3001\u5c06\u6765\u306e\u53ce\u76ca\u6027\u306a\u3069\u306b\u3064\u3044\u3066\u91d1\u878d\u6a5f\u95a2\u306b\u8aac\u660e\u3057\u3001\u6761\u4ef6\u3092\u4ea4\u6e09\u3057\u307e\u3059\u3002\u3053\u308c\u306b\u306f\u3001\u8cb7\u53ce\u4f01\u696d\u306e\u8a55\u4fa1\u3084\u8ca1\u52d9\u30e2\u30c7\u30eb\u306e\u4f5c\u6210\u306a\u3069\u304c\u542b\u307e\u308c\u307e\u3059\u3002\r\n<h4>LBO\u30ed\u30fc\u30f3\u306e\u7a2e\u985e<\/h4>\r\nLBO\u30ed\u30fc\u30f3\u306b\u306f\u3001\u69d8\u3005\u306a\u7a2e\u985e\u304c\u3042\u308a\u307e\u3059\u3002\u4e3b\u306a\u3082\u306e\u306b\u306f\u3001\u30b7\u30cb\u30a2\u30ed\u30fc\u30f3\uff08\u512a\u5148\u8cb8\u4ed8\uff09\u3001\u30df\u30fc\u30c9\u30ed\u30fc\u30f3\uff08\u6e96\u512a\u5148\u8cb8\u4ed8\uff09\u3001\u30b5\u30d6\u30ed\u30fc\u30f3\uff08\u52a3\u5f8c\u8cb8\u4ed8\uff09\u306a\u3069\u304c\u3042\u308a\u307e\u3059\u3002\u305d\u308c\u305e\u308c\u306e\u30ed\u30fc\u30f3\u306f\u7570\u306a\u308b\u6761\u4ef6\u3068\u30ea\u30b9\u30af\u3092\u4f34\u3044\u307e\u3059\u3002\r\n\r\n\u4ee5\u4e0bLBO\u30ed\u30fc\u30f3\u306e\u7a2e\u985e\r\n\r\n<strong>\u30b7\u30cb\u30a2\u30ed\u30fc\u30f3\uff08Senior Loan\uff09<\/strong>: \u3053\u308c\u306f\u8cb7\u53ce\u306e\u4e3b\u8981\u306a\u8cc7\u91d1\u6e90\u3068\u3057\u3066\u7528\u3044\u3089\u308c\u308b\u30ed\u30fc\u30f3\u3067\u3001\u4ed6\u306e\u30ed\u30fc\u30f3\u5f62\u614b\u306b\u6bd4\u3079\u3066\u512a\u5148\u5ea6\u304c\u9ad8\u304f\u3001\u76f8\u5bfe\u7684\u306b\u4f4e\u3044\u91d1\u5229\u3067\u63d0\u4f9b\u3055\u308c\u307e\u3059 \u3002\r\n\r\n<strong>\u30b3\u30df\u30c3\u30c8\u30e1\u30f3\u30c8\u30e9\u30a4\u30f3\uff08Commitment Line\uff09\u307e\u305f\u306f\u30ea\u30dc\u30eb\u30d0\u30fc\uff08Revolver\uff09<\/strong>: \u904b\u8ee2\u8cc7\u91d1\u3084\u77ed\u671f\u7684\u306a\u8cc7\u91d1\u9700\u8981\u306b\u5bfe\u5fdc\u3059\u308b\u305f\u3081\u306b\u8a2d\u3051\u3089\u308c\u308b\u3001\u4f7f\u3044\u52dd\u624b\u306e\u826f\u3044\u30ed\u30fc\u30f3\u5f62\u614b\u3067\u3059 \u3002\r\n\r\n<strong>\u30bf\u30fc\u30e0\u30ed\u30fc\u30f3\uff08Term Loan\uff09<\/strong>: \u9577\u671f\u7684\u306a\u8cb7\u53ce\u8cc7\u91d1\u3092\u63d0\u4f9b\u3059\u308b\u30ed\u30fc\u30f3\u3067\u3001\u7279\u5b9a\u306e\u671f\u9593\u5185\u3067\u8fd4\u6e08\u304c\u884c\u308f\u308c\u308b\u69cb\u9020\u3092\u6301\u3063\u3066\u3044\u307e\u3059 \u3002\r\n<h3><span class=\"ez-toc-section\" id=\"%E4%BC%81%E6%A5%AD%E3%81%AE%E8%B2%B7%E5%8F%8E%E3%82%92%E5%AE%9F%E8%A1%8C%E3%81%99%E3%82%8B\"><\/span>\u4f01\u696d\u306e\u8cb7\u53ce\u3092\u5b9f\u884c\u3059\u308b<span class=\"ez-toc-section-end\"><\/span><\/h3>\r\nSPC\u304c\u8cc7\u91d1\u3092\u8abf\u9054\u3057\u3001\u878d\u8cc7\u3092\u53d7\u3051\u308b\u3068\u3001\u6b21\u306b\u8cb7\u53ce\u8a08\u753b\u3092\u5b9f\u884c\u3057\u307e\u3059\u3002\u3053\u308c\u306b\u306f\u3001\u8cb7\u53ce\u5bfe\u8c61\u4f01\u696d\u306e\u682a\u5f0f\u306e\u53d6\u5f97\u3084\u7d4c\u55b6\u6a29\u306e\u79fb\u8ee2\u306a\u3069\u304c\u542b\u307e\u308c\u307e\u3059\u3002\r\n<h3><span class=\"ez-toc-section\" id=\"%E8%B2%B7%E5%8F%8E%E5%AF%BE%E8%B1%A1%E4%BC%81%E6%A5%AD%E3%81%A8SPC%E3%82%92%E5%90%88%E4%BD%B5%E3%81%99%E3%82%8B\"><\/span>\u8cb7\u53ce\u5bfe\u8c61\u4f01\u696d\u3068SPC\u3092\u5408\u4f75\u3059\u308b<span class=\"ez-toc-section-end\"><\/span><\/h3>\r\n\u8cb7\u53ce\u304c\u5b8c\u4e86\u3057\u305f\u5f8c\u3001\u8cb7\u53ce\u5bfe\u8c61\u4f01\u696d\u3068SPC\u306f\u5408\u4f75\u3057\u3001\u7d71\u5408\u3055\u308c\u305f\u4f01\u696d\u3068\u3057\u3066\u904b\u55b6\u3055\u308c\u307e\u3059\u3002\u3053\u306e\u6bb5\u968e\u3067\u306f\u3001\u8cb7\u53ce\u4f01\u696d\u306e\u518d\u7de8\u3084\u7d4c\u55b6\u65b9\u91dd\u306e\u5909\u66f4\u304c\u884c\u308f\u308c\u308b\u3053\u3068\u304c\u3042\u308a\u307e\u3059\u3002\r\n<h3><span class=\"ez-toc-section\" id=\"%E8%9E%8D%E8%B3%87%E5%85%88%E3%81%AB%E5%80%9F%E5%85%A5%E9%87%91%E3%82%92%E8%BF%94%E6%B8%88%E3%81%99%E3%82%8B\"><\/span>\u878d\u8cc7\u5148\u306b\u501f\u5165\u91d1\u3092\u8fd4\u6e08\u3059\u308b<span class=\"ez-toc-section-end\"><\/span><\/h3>\r\n\u6700\u5f8c\u306b\u3001\u4f01\u696d\u306f\u53d7\u3051\u305f\u501f\u5165\u91d1\u3092\u8fd4\u6e08\u3057\u307e\u3059\u3002\u3053\u308c\u306b\u306f\u3001\u8cb7\u53ce\u5f8c\u306e\u4f01\u696d\u306e\u53ce\u76ca\u3084\u8cc7\u7523\u3092\u6d3b\u7528\u3057\u3066\u3001\u878d\u8cc7\u5148\u306b\u5bfe\u3057\u3066\u652f\u6255\u3044\u3092\u884c\u3044\u307e\u3059\u3002\r\n\r\n\u4ee5\u4e0a\u304c\u3001\u4e00\u822c\u7684\u306aLBO\u306e\u6d41\u308c\u3067\u3059\u3002LBO\u306f\u3001\u8cb7\u53ce\u4f01\u696d\u3084\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u91cd\u8981\u306a\u6226\u7565\u7684\u624b\u6cd5\u3067\u3042\u308a\u3001\u6b63\u78ba\u306a\u8a08\u753b\u3068\u5b9f\u884c\u304c\u6c42\u3081\u3089\u308c\u307e\u3059\u3002\r\n<h2><span class=\"ez-toc-section\" id=\"LBO%E3%83%AC%E3%83%90%E3%83%AC%E3%83%83%E3%82%B8%E3%83%89%E3%83%BB%E3%83%90%E3%82%A4%E3%82%A2%E3%82%A6%E3%83%88%E3%81%AE%E6%B3%A8%E6%84%8F%E7%82%B9\"><\/span>LBO(\u30ec\u30d0\u30ec\u30c3\u30b8\u30c9\u30fb\u30d0\u30a4\u30a2\u30a6\u30c8)\u306e\u6ce8\u610f\u70b9<span class=\"ez-toc-section-end\"><\/span><\/h2>\r\nLBO\u306f\u4f01\u696d\u8cb7\u53ce\u306b\u304a\u3044\u3066\u91cd\u8981\u306a\u6226\u7565\u7684\u624b\u6cd5\u3067\u3059\u304c\u3001\u6ce8\u610f\u3059\u3079\u304d\u70b9\u3082\u5b58\u5728\u3057\u307e\u3059\u3002\r\n<h3><span class=\"ez-toc-section\" id=\"_%E8%B2%A1%E5%8B%99%E3%83%AA%E3%82%B9%E3%82%AF%E3%81%AE%E7%AE%A1%E7%90%86\"><\/span>\u00a0\u8ca1\u52d9\u30ea\u30b9\u30af\u306e\u7ba1\u7406<span class=\"ez-toc-section-end\"><\/span><\/h3>\r\nLBO\u3067\u306f\u3001\u591a\u984d\u306e\u501f\u5165\u91d1\u3092\u6d3b\u7528\u3059\u308b\u305f\u3081\u3001\u8ca1\u52d9\u30ea\u30b9\u30af\u304c\u9ad8\u307e\u308a\u307e\u3059\u3002\u8cb7\u53ce\u5f8c\u306e\u53ce\u76ca\u6027\u3084\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u304c\u4e88\u60f3\u901a\u308a\u3067\u306a\u3044\u5834\u5408\u3001\u50b5\u52d9\u8fd4\u6e08\u306b\u652f\u969c\u3092\u304d\u305f\u3059\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002\u305d\u306e\u305f\u3081\u3001\u614e\u91cd\u306a\u8ca1\u52d9\u8a08\u753b\u3068\u30ea\u30b9\u30af\u7ba1\u7406\u304c\u5fc5\u8981\u3067\u3059\u3002\r\n<h3><span class=\"ez-toc-section\" id=\"_%E4%BC%81%E6%A5%AD%E4%BE%A1%E5%80%A4%E3%81%AE%E9%81%A9%E5%88%87%E3%81%AA%E8%A9%95%E4%BE%A1\"><\/span>\u00a0\u4f01\u696d\u4fa1\u5024\u306e\u9069\u5207\u306a\u8a55\u4fa1<span class=\"ez-toc-section-end\"><\/span><\/h3>\r\nLBO\u306b\u304a\u3044\u3066\u306f\u3001\u8cb7\u53ce\u5bfe\u8c61\u4f01\u696d\u306e\u9069\u5207\u306a\u8a55\u4fa1\u304c\u91cd\u8981\u3067\u3059\u3002\u904e\u5270\u306a\u8a55\u4fa1\u306b\u3088\u3063\u3066\u3001\u8cc7\u91d1\u8abf\u9054\u3084\u50b5\u52d9\u8fd4\u6e08\u304c\u56f0\u96e3\u306b\u306a\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002\u8cb7\u53ce\u4fa1\u683c\u3092\u9069\u5207\u306b\u8a2d\u5b9a\u3059\u308b\u305f\u3081\u306b\u3001\u7dfb\u5bc6\u306a\u30c7\u30e5\u30fc\u30c7\u30ea\u30b8\u30a7\u30f3\u30b9\u304c\u5fc5\u8981\u3067\u3059\u3002\r\n<h3><span class=\"ez-toc-section\" id=\"%E6%88%90%E9%95%B7%E6%88%A6%E7%95%A5%E3%81%AE%E5%AE%9F%E8%A1%8C\"><\/span>\u6210\u9577\u6226\u7565\u306e\u5b9f\u884c<span class=\"ez-toc-section-end\"><\/span><\/h3>\r\nLBO\u5f8c\u306e\u4f01\u696d\u4fa1\u5024\u5411\u4e0a\u306e\u9375\u306f\u3001\u6210\u9577\u6226\u7565\u306e\u5b9f\u884c\u306b\u3042\u308a\u307e\u3059\u3002\u8cb7\u53ce\u5f8c\u306e\u4f01\u696d\u306e\u6210\u9577\u3084\u696d\u7e3e\u6539\u5584\u304c\u5341\u5206\u306b\u5b9f\u73fe\u3055\u308c\u306a\u3044\u5834\u5408\u3001\u6295\u8cc7\u5bb6\u3084\u50b5\u6a29\u8005\u304b\u3089\u306e\u5727\u529b\u304c\u9ad8\u307e\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002\u9069\u5207\u306a\u6226\u7565\u306e\u7acb\u6848\u3068\u5b9f\u884c\u304c\u6c42\u3081\u3089\u308c\u307e\u3059\u3002\r\n<h3><span class=\"ez-toc-section\" id=\"%E5%B8%82%E5%A0%B4%E7%92%B0%E5%A2%83%E3%81%AE%E5%A4%89%E5%8C%96%E3%81%B8%E3%81%AE%E5%AF%BE%E5%BF%9C\"><\/span>\u5e02\u5834\u74b0\u5883\u306e\u5909\u5316\u3078\u306e\u5bfe\u5fdc<span class=\"ez-toc-section-end\"><\/span><\/h3>\r\nLBO\u306f\u5e02\u5834\u74b0\u5883\u306e\u5909\u5316\u306b\u5f71\u97ff\u3092\u53d7\u3051\u3084\u3059\u3044\u3067\u3059\u3002\u666f\u6c17\u5909\u52d5\u3084\u7523\u696d\u69cb\u9020\u306e\u5909\u5316\u306a\u3069\u306e\u8981\u56e0\u304c\u8cb7\u53ce\u5f8c\u306e\u4f01\u696d\u4fa1\u5024\u306b\u5f71\u97ff\u3092\u4e0e\u3048\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002\u30ea\u30b9\u30af\u3092\u6700\u5c0f\u9650\u306b\u6291\u3048\u308b\u305f\u3081\u306b\u3001\u7d99\u7d9a\u7684\u306a\u5e02\u5834\u5206\u6790\u3068\u9069\u5fdc\u304c\u91cd\u8981\u3067\u3059\u3002\r\n\r\n\u3053\u308c\u3089\u306e\u6ce8\u610f\u70b9\u3092\u8003\u616e\u3057\u306a\u304c\u3089\u3001LBO\u306e\u8a08\u753b\u3068\u5b9f\u884c\u3092\u884c\u3046\u3053\u3068\u304c\u91cd\u8981\u3067\u3059\u3002\r\n\r\n&nbsp;\r\n<h2><span class=\"ez-toc-section\" id=\"LBO%E3%81%AE%E3%83%AA%E3%82%B9%E3%82%AF%E3%81%A8%E8%AA%B2%E9%A1%8C\"><\/span>LBO\u306e\u30ea\u30b9\u30af\u3068\u8ab2\u984c<span class=\"ez-toc-section-end\"><\/span><\/h2>\r\nLBO\u306f\u9ad8\u3044\u30ea\u30bf\u30fc\u30f3\u3092\u3082\u305f\u3089\u3059\u4e00\u65b9\u3067\u3001\u4ee5\u4e0b\u306e\u3088\u3046\u306a\u30ea\u30b9\u30af\u3084\u8ab2\u984c\u3082\u4f34\u3044\u307e\u3059\u3002\r\n\r\n\u9ad8\u3044\u8ca0\u50b5\u8ca0\u62c5\u304c\u4f01\u696d\u306e\u8ca1\u52d9\u5b89\u5b9a\u6027\u306b\u5f71\u97ff\u3092\u53ca\u307c\u3059\u53ef\u80fd\u6027\r\n\r\n\u7d4c\u55b6\u9663\u306e\u7d4c\u9a13\u3084\u80fd\u529b\u306b\u4f9d\u5b58\u3059\u308b\u3053\u3068\u304b\u3089\u3001\u7d4c\u55b6\u306e\u5931\u6557\u30ea\u30b9\u30af\u304c\u9ad8\u307e\u308b\r\n\r\n\u4e0d\u78ba\u5b9f\u6027\u306e\u9ad8\u3044\u5e02\u5834\u74b0\u5883\u4e0b\u3067\u306f\u30ea\u30b9\u30af\u304c\u5897\u5927\u3059\u308b\r\n\r\n&nbsp;\r\n<h2><span class=\"ez-toc-section\" id=\"%E3%83%AD%E3%83%BC%E3%83%B3%E5%9E%8BMBO%E3%81%AB%E3%82%88%E3%82%8B%E4%BA%8B%E6%A5%AD%E6%89%BF%E7%B6%99\"><\/span>\u30ed\u30fc\u30f3\u578bMBO\u306b\u3088\u308b\u4e8b\u696d\u627f\u7d99<span class=\"ez-toc-section-end\"><\/span><\/h2>\r\n<h3><span class=\"ez-toc-section\" id=\"%E3%83%AD%E3%83%BC%E3%83%B3%E5%9E%8BMBO%E3%81%AE%E6%A6%82%E8%A6%81%E3%81%A8%E7%89%B9%E5%BE%B4\"><\/span>\u30ed\u30fc\u30f3\u578bMBO\u306e\u6982\u8981\u3068\u7279\u5fb4<span class=\"ez-toc-section-end\"><\/span><\/h3>\r\n\u30ed\u30fc\u30f3\u578bMBO\uff08Management Buyout\uff09\u306f\u3001\u73fe\u5728\u306e\u7d4c\u55b6\u9663\u3084\u5916\u90e8\u6295\u8cc7\u5bb6\u304c\u3001\u8cb7\u53ce\u5bfe\u8c61\u4f01\u696d\u306e\u7d4c\u55b6\u6a29\u3092\u53d6\u5f97\u3059\u308b\u969b\u306b\u3001\u9280\u884c\u306a\u3069\u306e\u91d1\u878d\u6a5f\u95a2\u304b\u3089\u878d\u8cc7\u3092\u53d7\u3051\u3001\u305d\u306e\u878d\u8cc7\u3067\u8cb7\u53ce\u3092\u884c\u3046\u624b\u6cd5\u3067\u3059\u3002\u3053\u306e\u65b9\u6cd5\u306f\u3001\u591a\u304f\u306e\u5834\u5408\u3001\u7d4c\u55b6\u9663\u304c\u81ea\u8eab\u306e\u4f01\u696d\u3092\u8cb7\u53ce\u3059\u308b\u5834\u5408\u306b\u5229\u7528\u3055\u308c\u307e\u3059\u3002\u30ed\u30fc\u30f3\u578bMBO\u306e\u4e3b\u306a\u7279\u5fb4\u306f\u6b21\u306e\u901a\u308a\u3067\u3059\u3002\r\n\r\n<strong>\u7d4c\u55b6\u9663\u4e3b\u5c0e\u306e\u8cb7\u53ce<\/strong>: \u73fe\u5728\u306e\u7d4c\u55b6\u9663\u304c\u4f01\u696d\u3092\u8cb7\u53ce\u3059\u308b\u305f\u3081\u3001\u7d4c\u55b6\u9663\u304c\u8cb7\u53ce\u30d7\u30ed\u30bb\u30b9\u3092\u4e3b\u5c0e\u3057\u307e\u3059\u3002\r\n\r\n<strong>\u5916\u90e8\u8cc7\u91d1\u306e\u6d3b\u7528<\/strong>: \u9280\u884c\u306a\u3069\u306e\u91d1\u878d\u6a5f\u95a2\u304b\u3089\u306e\u878d\u8cc7\u3092\u6d3b\u7528\u3057\u3066\u8cb7\u53ce\u3092\u884c\u3044\u307e\u3059\u3002\r\n\r\n<strong>\u30ea\u30b9\u30af\u3068\u30ea\u30bf\u30fc\u30f3\u306e\u30d0\u30e9\u30f3\u30b9<\/strong>: \u8cb7\u53ce\u306b\u4f34\u3046\u30ea\u30b9\u30af\u3068\u5c06\u6765\u306e\u4f01\u696d\u4fa1\u5024\u5411\u4e0a\u306b\u3088\u308b\u30ea\u30bf\u30fc\u30f3\u306e\u30d0\u30e9\u30f3\u30b9\u3092\u91cd\u8996\u3057\u307e\u3059\u3002\r\n<h3><span class=\"ez-toc-section\" id=\"%E3%83%AD%E3%83%BC%E3%83%B3%E5%9E%8BMBO%E3%81%AE%E3%83%A1%E3%83%AA%E3%83%83%E3%83%88%E3%81%A8%E3%83%87%E3%83%A1%E3%83%AA%E3%83%83%E3%83%88\"><\/span>\u30ed\u30fc\u30f3\u578bMBO\u306e\u30e1\u30ea\u30c3\u30c8\u3068\u30c7\u30e1\u30ea\u30c3\u30c8<span class=\"ez-toc-section-end\"><\/span><\/h3>\r\n<h4>\u30e1\u30ea\u30c3\u30c8<\/h4>\r\n<strong>\u7d4c\u55b6\u9663\u306e\u30e2\u30c1\u30d9\u30fc\u30b7\u30e7\u30f3\u5411\u4e0a<\/strong>: \u7d4c\u55b6\u9663\u304c\u4f01\u696d\u306e\u30aa\u30fc\u30ca\u30fc\u3068\u306a\u308b\u3053\u3068\u3067\u3001\u7d4c\u55b6\u9663\u306e\u30e2\u30c1\u30d9\u30fc\u30b7\u30e7\u30f3\u304c\u5411\u4e0a\u3057\u307e\u3059\u3002\r\n\r\n<strong>\u65e9\u671f\u6c7a\u5b9a\u306e\u4fc3\u9032<\/strong>: \u8cb7\u53ce\u30d7\u30ed\u30bb\u30b9\u304c\u8fc5\u901f\u306b\u9032\u3080\u3053\u3068\u304c\u3067\u304d\u3001\u4f01\u696d\u306e\u5b89\u5b9a\u6027\u3092\u78ba\u4fdd\u3057\u307e\u3059\u3002\r\n\r\n<strong>\u4f01\u696d\u306e\u7d99\u7d9a\u6027<\/strong>: \u73fe\u5728\u306e\u7d4c\u55b6\u9663\u304c\u4f01\u696d\u3092\u8cb7\u53ce\u3059\u308b\u305f\u3081\u3001\u4f01\u696d\u306e\u6587\u5316\u3084\u6226\u7565\u304c\u7d99\u7d9a\u3055\u308c\u307e\u3059\u3002\r\n\r\n&nbsp;\r\n\r\n<strong>\u30c7\u30e1\u30ea\u30c3\u30c8<\/strong>\r\n\r\n<strong>\u9ad8\u3044\u91d1\u878d\u30ea\u30b9\u30af<\/strong>: LBO\u3067\u306f\u8cb7\u53ce\u306b\u5927\u91cf\u306e\u501f\u5165\u91d1\u304c\u4f7f\u7528\u3055\u308c\u308b\u305f\u3081\u3001\u91d1\u878d\u6a5f\u95a2\u304b\u3089\u306e\u878d\u8cc7\u306e\u91d1\u5229\u304c\u9ad8\u304f\u306a\u308a\u3001\u8fd4\u6e08\u8ca0\u62c5\u304c\u91cd\u5927\u306b\u306a\u308b\u53ef\u80fd\u6027\u304c\u3042\u308a\u307e\u3059\u3002\r\n\r\n<strong>\u904b\u55b6\u306e\u5727\u529b<\/strong>: \u8cb7\u53ce\u3055\u308c\u305f\u4f01\u696d\u306f\u3001\u9ad8\u984d\u306a\u501f\u5165\u91d1\u306e\u8fd4\u6e08\u3092\u5f37\u3044\u3089\u308c\u308b\u305f\u3081\u3001\u73fe\u91d1\u6d41\u304c\u8ca0\u306e\u5f71\u97ff\u3092\u53d7\u3051\u3001\u904b\u55b6\u306b\u53b3\u3057\u3044\u5727\u529b\u304c\u304b\u304b\u308b\u3053\u3068\u304c\u3042\u308a\u307e\u3059\u3002\r\n\r\n<strong>\u624b\u7d9a\u304d\u306e\u8907\u96d1\u3055<\/strong>: LBO\u306f\u624b\u7d9a\u304d\u304c\u7169\u96d1\u3067\u3001\u591a\u304f\u306e\u91d1\u878d\u6a5f\u95a2\u306e\u627f\u8a8d\u3092\u5fc5\u8981\u3068\u3057\u3001\u900f\u660e\u6027\u306e\u9ad8\u3044\u8ca1\u52d9\u5831\u544a\u304c\u6c42\u3081\u3089\u308c\u308b\u3002\r\n\r\n<strong>\u9650\u5b9a\u3055\u308c\u305f\u30ea\u30b9\u30af<\/strong>: \u8cb7\u53ce\u4f01\u696d\u306e\u696d\u7e3e\u304c\u60aa\u5316\u3057\u305f\u5834\u5408\u3001\u640d\u5931\u306f\u6295\u8cc7\u984d\u306b\u9650\u5b9a\u3055\u308c\u308b\u3082\u306e\u306e\u3001\u4f01\u696d\u4fa1\u5024\u306e\u4f4e\u4e0b\u304c\u6295\u8cc7\u5bb6\u306b\u3068\u3063\u3066\u5927\u304d\u306a\u30ea\u30b9\u30af\u3068\u306a\u308a\u307e\u3059\u3002\r\n<h2><span class=\"ez-toc-section\" id=\"LBO%E3%81%AE%E6%88%90%E5%8A%9F%E4%BA%8B%E4%BE%8B%E3%81%A8%E5%A4%B1%E6%95%97%E4%BA%8B%E4%BE%8B\"><\/span>LBO\u306e\u6210\u529f\u4e8b\u4f8b\u3068\u5931\u6557\u4e8b\u4f8b<span class=\"ez-toc-section-end\"><\/span><\/h2>\r\n<h4>LBO\u306e\u6210\u529f\u4e8b\u4f8b<\/h4>\r\n<strong>\u30d2\u30eb\u30c8\u30f3\u30fb\u30db\u30c6\u30eb\u30ba\u306e\u8cb7\u53ce<\/strong>\r\n\r\n2007\u5e74\u3001\u30d6\u30e9\u30c3\u30af\u30b9\u30c8\u30fc\u30f3\u30fb\u30b0\u30eb\u30fc\u30d7\u306f\u30d2\u30eb\u30c8\u30f3\u30fb\u30db\u30c6\u30eb\u30ba\u3092260\u5104\u30c9\u30eb\u3067\u8cb7\u53ce\u3057\u307e\u3057\u305f\u3002\u3053\u306e\u8cb7\u53ce\u306fLBO\u306e\u6210\u529f\u4f8b\u3068\u3057\u3066\u5e83\u304f\u77e5\u3089\u308c\u3066\u3044\u307e\u3059\u3002\u30d6\u30e9\u30c3\u30af\u30b9\u30c8\u30fc\u30f3\u306f\u3001\u30d2\u30eb\u30c8\u30f3\u306e\u65e2\u5b58\u306e\u5f37\u56fa\u306a\u30d6\u30e9\u30f3\u30c9\u529b\u3068\u30b0\u30ed\u30fc\u30d0\u30eb\u306a\u5c55\u958b\u3092\u8a55\u4fa1\u3057\u3001\u8cb7\u53ce\u5f8c\u306b\u7a4d\u6975\u7684\u306a\u7d4c\u55b6\u6539\u9769\u3068\u6210\u9577\u6226\u7565\u3092\u5b9f\u65bd\u3057\u307e\u3057\u305f\u3002\u305d\u306e\u7d50\u679c\u3001\u30d2\u30eb\u30c8\u30f3\u306f\u53ce\u76ca\u6027\u306e\u5411\u4e0a\u3068\u30b0\u30ed\u30fc\u30d0\u30eb\u306a\u5e02\u5834\u30b7\u30a7\u30a2\u306e\u62e1\u5927\u3092\u5b9f\u73fe\u3057\u30012013\u5e74\u306b\u306fIPO\u3092\u679c\u305f\u3057\u307e\u3057\u305f\u3002\r\n\r\n\u30d6\u30e9\u30c3\u30af\u30b9\u30c8\u30fc\u30f3\u306f\u30d2\u30eb\u30c8\u30f3\u306e\u904b\u55b6\u52b9\u7387\u3092\u9ad8\u3081\u308b\u305f\u3081\u306b\u3001IT\u30b7\u30b9\u30c6\u30e0\u306e\u7d71\u5408\u3084\u30b3\u30b9\u30c8\u524a\u6e1b\u7b56\u3092\u5c0e\u5165\u3057\u307e\u3057\u305f\u3002\u307e\u305f\u3001\u65b0\u3057\u3044\u30de\u30fc\u30b1\u30c6\u30a3\u30f3\u30b0\u6226\u7565\u3092\u5c55\u958b\u3057\u3001\u30d2\u30eb\u30c8\u30f3\u306e\u30d6\u30e9\u30f3\u30c9\u529b\u3092\u3055\u3089\u306b\u5f37\u5316\u3057\u307e\u3057\u305f\u3002\u3053\u308c\u306b\u3088\u308a\u3001\u30d2\u30eb\u30c8\u30f3\u306f\u7d4c\u6e08\u5371\u6a5f\u306e\u5f71\u97ff\u3092\u53d7\u3051\u308b\u3053\u3068\u306a\u304f\u3001\u5b89\u5b9a\u3057\u305f\u6210\u9577\u3092\u9042\u3052\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3057\u305f\u3002\u3053\u306eLBO\u306f\u3001\u8cb7\u53ce\u5f8c\u306e\u9069\u5207\u306a\u7d4c\u55b6\u6539\u9769\u3068\u5e02\u5834\u6226\u7565\u306e\u5b9f\u884c\u304c\u6210\u529f\u306e\u9375\u3067\u3042\u308b\u3053\u3068\u3092\u793a\u3057\u3066\u3044\u307e\u3059\u3002\r\n\r\n\u25b6<a href=\"https:\/\/www.bloomberg.co.jp\/news\/articles\/2007-07-03\/JKMW4P07SXKX01\" title=\"\u7c73\u30d2\u30eb\u30c8\u30f3\uff1a\u30d6\u30e9\u30c3\u30af\u30b9\u30c8\u30fc\u30f3\u306b\u3088\u308b\u8cb7\u53ce\u306b\u5408\u610f\uff0d\u7dcf\u984d260\u5104\u30c9\u30eb\">\u7c73\u30d2\u30eb\u30c8\u30f3\uff1a\u30d6\u30e9\u30c3\u30af\u30b9\u30c8\u30fc\u30f3\u306b\u3088\u308b\u8cb7\u53ce\u306b\u5408\u610f\uff0d\u7dcf\u984d260\u5104\u30c9\u30eb<\/a>\r\n\r\n<strong>\u30cd\u30af\u30b9\u30c8\u30fb\u30b5\u30fc\u30e2\u30b9\u30bf\u30c3\u30c8\u306e\u8cb7\u53ce<\/strong>\r\n\r\n\u3082\u3046\u4e00\u3064\u306e\u6210\u529f\u4e8b\u4f8b\u3068\u3057\u3066\u3001\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30a8\u30af\u30a4\u30c6\u30a3\u30d5\u30a1\u30f3\u30c9\u306b\u3088\u308b\u30cd\u30af\u30b9\u30c8\u30fb\u30b5\u30fc\u30e2\u30b9\u30bf\u30c3\u30c8\u306e\u8cb7\u53ce\u304c\u6319\u3052\u3089\u308c\u307e\u3059\u30022014\u5e74\u3001\u30b0\u30fc\u30b0\u30eb\u306f32\u5104\u30c9\u30eb\u3067\u30cd\u30af\u30b9\u30c8\u3092\u8cb7\u53ce\u3057\u307e\u3057\u305f\u3002\u3053\u306e\u8cb7\u53ce\u306f\u3001LBO\u3067\u306f\u306a\u3044\u3082\u306e\u306e\u3001\u30d7\u30e9\u30a4\u30d9\u30fc\u30c8\u30a8\u30af\u30a4\u30c6\u30a3\u30d5\u30a1\u30f3\u30c9\u306b\u3088\u308b\u4f01\u696d\u8cb7\u53ce\u306e\u6210\u529f\u4f8b\u3068\u3057\u3066\u6ce8\u76ee\u3055\u308c\u307e\u3057\u305f\u3002\r\n\r\n\u30b0\u30fc\u30b0\u30eb\u306f\u3001\u30cd\u30af\u30b9\u30c8\u306e\u5148\u9032\u7684\u306a\u6280\u8853\u3068\u5e02\u5834\u3067\u306e\u6210\u9577\u30dd\u30c6\u30f3\u30b7\u30e3\u30eb\u3092\u8a55\u4fa1\u3057\u3001\u8cb7\u53ce\u5f8c\u306b\u3055\u3089\u306a\u308b\u7814\u7a76\u958b\u767a\u3068\u5e02\u5834\u62e1\u5927\u3092\u652f\u63f4\u3057\u307e\u3057\u305f\u3002\u305d\u306e\u7d50\u679c\u3001\u30cd\u30af\u30b9\u30c8\u306f\u30b9\u30de\u30fc\u30c8\u30db\u30fc\u30e0\u5e02\u5834\u3067\u306e\u30ea\u30fc\u30c0\u30fc\u30b7\u30c3\u30d7\u3092\u78ba\u7acb\u3057\u3001\u53ce\u76ca\u6027\u306e\u5411\u4e0a\u3092\u5b9f\u73fe\u3057\u307e\u3057\u305f\u3002\u30b0\u30fc\u30b0\u30eb\u306e\u8cc7\u672c\u529b\u3068\u6280\u8853\u529b\u3092\u6d3b\u7528\u3059\u308b\u3053\u3068\u3067\u3001\u30cd\u30af\u30b9\u30c8\u306f\u6025\u901f\u306b\u6210\u9577\u3057\u3001\u5e02\u5834\u3067\u306e\u7af6\u4e89\u529b\u3092\u5f37\u5316\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3057\u305f\u3002\r\n\r\n\u25b6<a href=\"https:\/\/www.reuters.com\/article\/world\/-idUSTYEA0C02M\/\" title=\"\u7c73\u30b0\u30fc\u30b0\u30eb\u3001\u30a2\u30c3\u30d7\u30eb\u5143\u5e79\u90e8\u304c\u7387\u3044\u308b\u30cd\u30b9\u30c8\u30fb\u30e9\u30dc\u3092\u8cb7\u53ce\u3078\">\u7c73\u30b0\u30fc\u30b0\u30eb\u3001\u30a2\u30c3\u30d7\u30eb\u5143\u5e79\u90e8\u304c\u7387\u3044\u308b\u30cd\u30b9\u30c8\u30fb\u30e9\u30dc\u3092\u8cb7\u53ce\u3078<\/a>\r\n<h4>LBO\u306e\u5931\u6557\u4e8b\u4f8b<\/h4>\r\n<strong>\u30c8\u30a4\u30b6\u3089\u30b9\u306e\u8cb7\u53ce<\/strong>\r\n\r\n\u4e00\u65b9\u3067\u3001LBO\u304c\u5931\u6557\u3059\u308b\u4f8b\u3082\u5c11\u306a\u304f\u3042\u308a\u307e\u305b\u3093\u3002\u305d\u306e\u4e00\u4f8b\u304c\u30c8\u30a4\u30b6\u3089\u30b9\u306e\u8cb7\u53ce\u3067\u3059\u30022005\u5e74\u3001KKR\u3001\u30d9\u30a4\u30f3\u30ad\u30e3\u30d4\u30bf\u30eb\u3001\u304a\u3088\u3073\u30d0\u30fc\u30cd\u30fc\u30c9\u30fb\u30ec\u30ca\u30fc\u30c9\u304c\u5171\u540c\u3067\u30c8\u30a4\u30b6\u3089\u30b9\u309266\u5104\u30c9\u30eb\u3067\u8cb7\u53ce\u3057\u307e\u3057\u305f\u3002\u3057\u304b\u3057\u3001\u3053\u306e\u8cb7\u53ce\u306f\u7d50\u679c\u7684\u306b\u5931\u6557\u306b\u7d42\u308f\u308a\u307e\u3057\u305f\u3002\u30c8\u30a4\u30b6\u3089\u30b9\u306f\u3001\u904e\u5ea6\u306a\u501f\u5165\u306b\u3088\u308b\u8ca1\u52d9\u8ca0\u62c5\u304c\u91cd\u304f\u306e\u3057\u304b\u304b\u308a\u3001\u7af6\u4e89\u6fc0\u5316\u3059\u308b\u5e02\u5834\u74b0\u5883\u306e\u4e2d\u3067\u53ce\u76ca\u6027\u3092\u7dad\u6301\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u305b\u3093\u3067\u3057\u305f\u3002\r\n\r\n\u30c8\u30a4\u30b6\u3089\u30b9\u306f\u3001\u8cb7\u53ce\u5f8c\u3082\u30aa\u30f3\u30e9\u30a4\u30f3\u5c0f\u58f2\u696d\u8005\u3068\u306e\u7af6\u4e89\u306b\u82e6\u3057\u307f\u3001\u58f2\u4e0a\u306e\u6e1b\u5c11\u306b\u76f4\u9762\u3057\u307e\u3057\u305f\u3002\u307e\u305f\u3001\u501f\u5165\u91d1\u306e\u8fd4\u6e08\u306b\u591a\u984d\u306e\u30ad\u30e3\u30c3\u30b7\u30e5\u30d5\u30ed\u30fc\u304c\u5fc5\u8981\u3068\u306a\u308a\u3001\u7d4c\u55b6\u8cc7\u6e90\u3092\u6210\u9577\u6226\u7565\u306b\u6295\u5165\u3059\u308b\u4f59\u88d5\u304c\u306a\u304f\u306a\u308a\u307e\u3057\u305f\u3002\u3053\u306e\u7d50\u679c\u3001\u30c8\u30a4\u30b6\u3089\u30b9\u306f2017\u5e74\u306b\u7834\u7523\u3092\u7533\u8acb\u3057\u3001\u591a\u304f\u306e\u5e97\u8217\u304c\u9589\u9396\u3055\u308c\u307e\u3057\u305f\u3002\u3053\u306e\u4e8b\u4f8b\u306f\u3001LBO\u306e\u969b\u306e\u904e\u5ea6\u306a\u501f\u5165\u304c\u4f01\u696d\u7d4c\u55b6\u306b\u3069\u308c\u3060\u3051\u306e\u30ea\u30b9\u30af\u3092\u3082\u305f\u3089\u3059\u304b\u3092\u793a\u3057\u3066\u3044\u307e\u3059\u3002\r\n\r\n<strong>\u30a8\u30c7\u30a3\u30fb\u30d0\u30a6\u30a2\u30fc\u306e\u8cb7\u53ce<\/strong>\r\n\r\n\u3082\u3046\u4e00\u3064\u306e\u5931\u6557\u4e8b\u4f8b\u3068\u3057\u3066\u3001\u30a8\u30c7\u30a3\u30fb\u30d0\u30a6\u30a2\u30fc\u306e\u8cb7\u53ce\u304c\u6319\u3052\u3089\u308c\u307e\u3059\u30022003\u5e74\u3001\u30b4\u30fc\u30eb\u30c7\u30f3\u30fb\u30b2\u30fc\u30c8\u30ad\u30e3\u30d4\u30bf\u30eb\u306f\u30a8\u30c7\u30a3\u30fb\u30d0\u30a6\u30a2\u30fc\u30923\u5104\u30c9\u30eb\u3067\u8cb7\u53ce\u3057\u307e\u3057\u305f\u3002\u3057\u304b\u3057\u3001\u3053\u306e\u8cb7\u53ce\u3082\u5931\u6557\u306b\u7d42\u308f\u308a\u307e\u3057\u305f\u3002\u30a8\u30c7\u30a3\u30fb\u30d0\u30a6\u30a2\u30fc\u306f\u3001\u8cb7\u53ce\u5f8c\u306b\u30d6\u30e9\u30f3\u30c9\u306e\u518d\u69cb\u7bc9\u3068\u5e02\u5834\u6226\u7565\u306e\u898b\u76f4\u3057\u3092\u8a66\u307f\u307e\u3057\u305f\u304c\u3001\u6d88\u8cbb\u8005\u306e\u652f\u6301\u3092\u5f97\u308b\u3053\u3068\u304c\u3067\u304d\u305a\u3001\u58f2\u4e0a\u306f\u4f4e\u8ff7\u3057\u307e\u3057\u305f\u3002\r\n\r\n\u307e\u305f\u3001\u7d4c\u6e08\u72b6\u6cc1\u306e\u60aa\u5316\u3068\u7af6\u4e89\u306e\u6fc0\u5316\u306b\u3088\u308a\u3001\u30a8\u30c7\u30a3\u30fb\u30d0\u30a6\u30a2\u30fc\u306f\u53ce\u76ca\u6027\u3092\u56de\u5fa9\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u305b\u3093\u3067\u3057\u305f\u3002\u7d50\u679c\u3068\u3057\u3066\u3001\u30a8\u30c7\u30a3\u30fb\u30d0\u30a6\u30a2\u30fc\u306f2009\u5e74\u306b\u7834\u7523\u3092\u7533\u8acb\u3057\u3001\u591a\u304f\u306e\u5e97\u8217\u3092\u9589\u9396\u3057\u307e\u3057\u305f\u3002\u3053\u306e\u4e8b\u4f8b\u306f\u3001LBO\u306e\u969b\u306b\u4f01\u696d\u306e\u30d6\u30e9\u30f3\u30c9\u529b\u3084\u5e02\u5834\u30dd\u30b8\u30b7\u30e7\u30f3\u3092\u904e\u5927\u8a55\u4fa1\u3059\u308b\u30ea\u30b9\u30af\u3092\u793a\u3057\u3066\u3044\u307e\u3059\u3002\r\n<div class=\"group\/conversation-turn relative flex w-full min-w-0 flex-col agent-turn\">\r\n<div class=\"flex-col gap-1 md:gap-3\">\r\n<div class=\"flex flex-grow flex-col max-w-full\">\r\n<div data-message-author-role=\"assistant\" data-message-id=\"5e84c7af-8766-4e71-9d97-f4e6b17a0d82\" dir=\"auto\" class=\"min-h-[20px] text-message flex w-full flex-col items-end gap-2 whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 overflow-x-auto\">\r\n<div class=\"flex w-full flex-col gap-1 empty:hidden first:pt-[3px]\">\r\n<div class=\"markdown prose w-full break-words dark:prose-invert light\">\r\n<h2><span class=\"ez-toc-section\" id=\"%E3%81%BE%E3%81%A8%E3%82%81\"><\/span>\u307e\u3068\u3081<span 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