{"id":1814,"date":"2025-11-13T10:00:58","date_gmt":"2025-11-13T01:00:58","guid":{"rendered":"https:\/\/www.ht-tax.or.jp\/navi\/?p=1814"},"modified":"2025-11-07T13:02:37","modified_gmt":"2025-11-07T04:02:37","slug":"pmi-importance","status":"publish","type":"post","link":"https:\/\/www.ht-tax.or.jp\/navi\/pmi-importance","title":{"rendered":"\u306a\u305cPMI\u304cM\uff06A\u306e\u6210\u5426\u3092\u5206\u3051\u308b\u306e\u304b\uff1f\u305d\u306e\u91cd\u8981\u6027\u3092\u89e3\u8aac"},"content":{"rendered":"

M&A\u306e\u6210\u5426\u3092\u5927\u304d\u304f\u5de6\u53f3\u3059\u308b\u306e\u306f\u3001\u8cb7\u53ce\u3084\u5408\u4f75\u305d\u306e\u3082\u306e\u3067\u306f\u306a\u304f\u3001\u305d\u306e\u5f8c\u306e<\/strong>\u7d71\u5408\u30d7\u30ed\u30bb\u30b9<\/strong><\/span>\u300cPMI\uff08\u30dd\u30b9<\/strong><\/span>\u30c8\u30fb\u30de\u30fc\u30b8\u30e3\u30fc\u30fb\u30a4\u30f3\u30c6\u30b0\u30ec\u30fc\u30b7\u30e7\u30f3\uff09\u300d<\/span><\/strong>\u3067\u3059\u3002<\/p>\n

PMI\u3068\u306f\u3001\u8cb7\u53ce\u30fb\u5408\u4f75\u3057\u305f\u4f01\u696d\u540c\u58eb\u306e\u7d4c\u55b6\u65b9\u91dd\u3084\u696d\u52d9\u306e\u6d41\u308c\u3001\u7d44\u7e54\u6587\u5316\u3084\u793e\u54e1\u306e\u610f\u8b58\u306a\u3069\u3092\u4e00\u3064\u306b\u307e\u3068\u3081\u3001\u53cc\u65b9\u306e\u5f37\u307f\u3092\u6d3b\u304b\u3057\u3066\u76f8\u4e57\u52b9\u679c\uff08\u30b7\u30ca\u30b8\u30fc\uff09\u3092\u6700\u5927\u5316\u3059\u308b\u305f\u3081\u306e\u30d7\u30ed\u30bb\u30b9<\/span><\/strong>\u306e\u3053\u3068\u3092\u6307\u3057\u307e\u3059\u3002<\/p>\n

\u3053\u3053\u3067\u306e\u6210\u529f\u304c\u3001\u4f01\u696d\u4fa1\u5024\u306e\u5411\u4e0a\u306b\u76f4\u7d50\u3059\u308b\u306e\u3067\u3059\u3002<\/p>\n

\u3064\u307e\u308aM&A\u306e\u7d50\u679c\u3092\u6c7a\u3081\u308b\u9375\u306f\u3001\u307e\u3055\u306b\u3053\u306ePMI\u306b\u3042\u308a\u307e\u3059<\/u><\/strong>\u3002<\/p>\n

\u3053\u306e\u8a18\u4e8b\u3067\u306fPMI\u306e\u91cd\u8981\u6027\u306b\u3064\u3044\u3066\u5206\u304b\u308a\u3084\u3059\u304f\u89e3\u8aac\u3057\u307e\u3059\u3002\u305c\u3072\u3054\u4e00\u8aad\u304f\u3060\u3055\u3044\u3002<\/p>\n

1.PMI\u306e\u91cd\u8981\u6027\u2460\u3000\u30b7\u30ca\u30b8\u30fc\u52b9\u679c\u3092\u6700\u5927\u9650\u306b\u767a\u63ee\u3057\u3001\u4f01\u696d\u4fa1\u5024\u3092\u9ad8\u3081\u308b<\/h2>\n

PMI\u304c\u91cd\u8981\u306a\u306e\u306f\u3001M&A\u306b\u3088\u3063\u3066\u751f\u307e\u308c\u308b\u300c\u30b7\u30ca\u30b8\u30fc\u52b9\u679c\u300d\u3092\u6700\u5927\u9650\u306b\u6d3b\u304b\u3057\u3001\u4f01\u696d\u4fa1\u5024\u3092\u9ad8\u3081\u308b\u305f\u3081\u3067\u3059<\/span><\/strong>\u3002\u30b7\u30ca\u30b8\u30fc\u52b9\u679c\u3068\u306f\u3001\u5358\u306b\u8db3\u3057\u7b97\u3067\u306f\u306a\u304f\u3001\u300c1\uff0b1\u304c2\u4ee5\u4e0a\u306b\u306a\u308b\u300d\u3088\u3046\u306a\u76f8\u4e57\u52b9\u679c\u306e\u3053\u3068\u3092\u6307\u3057\u307e\u3059<\/strong>\u3002\u4f8b\u3048\u3070\u3001\u8cb7\u53ce\u3057\u305f\u4f1a\u793e\u306e\u5f37\u307f\u3068\u81ea\u793e\u306e\u5f37\u307f\u3092\u7d44\u307f\u5408\u308f\u305b\u308b\u3053\u3068\u3067\u3001\u65b0\u3057\u3044\u5546\u54c1\u958b\u767a\u304c\u3067\u304d\u305f\u308a\u3001\u30b3\u30b9\u30c8\u3092\u5927\u304d\u304f\u524a\u6e1b\u3067\u304d\u305f\u308a\u3057\u307e\u3059\u3002<\/p>\n

\u3057\u304b\u3057\u3001PMI\u3092\u9069\u5207\u306b\u9032\u3081\u306a\u3051\u308c\u3070\u3001\u305d\u308c\u305e\u308c\u306e\u4f1a\u793e\u306e\u4ed5\u7d44\u307f\u3084\u6587\u5316\u306e\u9055\u3044\u304b\u3089\u6df7\u4e71\u304c\u751f\u3058\u3001\u305b\u3063\u304b\u304f\u306e\u30b7<\/u><\/strong>\u30ca\u30b8\u30fc\u304c\u306a\u304b\u306a\u304b\u767a\u63ee\u3055\u308c\u307e\u305b\u3093<\/u><\/strong>\u3002\u7d50\u679c\u3068\u3057\u3066\u3001\u671f\u5f85\u3057\u3066\u3044\u305f\u52b9\u679c\u304c\u9045\u308c\u305f\u308a\u3001\u5341\u5206\u306b\u5f97\u3089\u308c\u306a\u3044\u30ea\u30b9\u30af\u304c\u9ad8\u307e\u308a\u307e\u3059\u3002<\/p>\n

\u5177\u4f53\u7684\u306b\u306f\u3001\u8ca9\u58f2\u30c1\u30e3\u30cd\u30eb\u306e\u62e1\u5927\u306b\u3088\u308b\u58f2\u4e0a\u5897\u52a0\u3001\u7d4c\u8cbb\u306e\u524a\u6e1b\u3084\u696d\u52d9\u306e\u52b9\u7387\u5316\u3001\u793e\u54e1\u306e\u30e2\u30c1\u30d9\u30fc\u30b7\u30e7\u30f3\u5411\u4e0a\u306a\u3069\u304c\u30b7\u30ca\u30b8\u30fc\u306e\u5177\u4f53\u4f8b\u3067\u3059\u3002\u3053\u308c\u3089\u3092\u5b9f\u73fe\u3059\u308b\u305f\u3081\u306b\u306f\u3001\u73fe\u5834\u62c5\u5f53\u8005\u3068\u306e\u5bc6\u306a\u9023\u643a\u3084\u53d6\u5f15\u5148\u3068\u306e\u4fe1\u983c\u95a2\u4fc2\u306e\u7dad\u6301\u304c\u6b20\u304b\u305b\u307e\u305b\u3093\u3002<\/p>\n

PMI\u3067\u306f\u3001\u3069\u3093\u306a\u30c8\u30e9\u30d6\u30eb\u304c\u8d77\u3053\u308a\u5f97\u308b\u304b\u3001\u3069\u3093\u306a\u6210\u679c\u304c\u671f\u5f85\u3067\u304d\u308b\u304b\u3092\u4e8b\u524d\u306b\u628a\u63e1\u3057\u3001\u30ea\u30b9\u30af\u3092\u6e1b\u3089\u3057\u3064\u3064\u6700\u5927\u9650\u306e\u6210\u679c\u3092\u51fa\u3059\u6226\u7565\u3092\u7b56\u5b9a\u30fb\u5b9f\u884c\u3059\u308b\u3053\u3068\u304c\u4e0d\u53ef\u6b20\u3067\u3059\u3002\u4e01\u5be7\u306a\u30b3\u30df\u30e5\u30cb\u30b1\u30fc\u30b7\u30e7\u30f3\u3084\u6587\u5316\u306e\u878d\u5408\u306b\u5411\u3051\u305f\u65bd\u7b56\u3092\u7a4d\u6975\u7684\u306b\u9032\u3081\u308b\u3053\u3068\u3067\u3001\u30b7\u30ca\u30b8\u30fc\u52b9\u679c\u306f\u78ba\u5b9f\u306b\u9ad8\u307e\u308a\u3001\u7d50\u679c\u7684\u306b\u4f01\u696d\u4fa1\u5024\u306e\u5927\u5e45\u306a\u5411\u4e0a\u306b\u3064\u306a\u304c\u308a\u307e\u3059\u3002<\/p>\n

2.PMI\u306e\u91cd\u8981\u6027\u2461\u3000\u30b7\u30b9\u30c6\u30e0\u306e\u7d71\u5408\u3067\u6df7\u4e71\u3092\u9632\u304e\u3001\u696d\u52d9\u52b9\u7387\u3092\u5411\u4e0a\u3055\u305b\u308b<\/h2>\n

PMI\u304c\u91cd\u8981\u306a\u306e\u306f\u3001\u7570\u306a\u308b\u4f01\u696d\u306e\u30b7\u30b9\u30c6\u30e0\u3092\u7d71\u5408\u3059\u308b\u3053\u3068\u3067\u3001M&A\u5f8c\u306e\u6df7\u4e71\u3092\u9632\u304e\u3001\u696d\u52d9\u52b9\u7387\u3092\u5927\u304d\u304f\u5411\u4e0a\u3055\u305b\u308b\u305f\u3081\u3067\u3059\u3002<\/span><\/strong><\/p>\n

\u8cb7\u53ce\u524d\u306e\u4f01\u696d\u304c\u305d\u308c\u305e\u308c\u7570\u306a\u308b\u30b7\u30b9\u30c6\u30e0\u3084\u30c7\u30fc\u30bf\u7ba1\u7406\u4f53\u5236\u3092\u6301\u3063\u3066\u3044\u308b\u3068\u3001\u60c5\u5831\u306e\u65ad\u7d76\u3084\u91cd\u8907\u4f5c\u696d\u304c\u8d77\u304d\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002\u3053\u308c\u304c\u696d\u52d9\u306e\u505c\u6ede\u3084\u5f93\u696d\u54e1\u306e\u6df7\u4e71\u3001\u3055\u3089\u306b\u306f\u30bb\u30ad\u30e5\u30ea\u30c6\u30a3\u30ea\u30b9\u30af\u306b\u3064\u306a\u304c\u308b\u3053\u3068\u3082\u5c11\u306a\u304f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n

\u4e00\u65b9\u3067\u3001\u30b7\u30b9\u30c6\u30e0\u3092\u7d71\u4e00\u30fb\u6700\u9069\u5316\u3059\u308b\u3053\u3068\u3067\u3001\u60c5\u5831\u304c\u4e00\u5143\u7ba1\u7406\u3055\u308c\u3001\u610f\u601d\u6c7a\u5b9a\u304c\u8fc5\u901f\u306b\u306a\u308a\u3001\u696d\u52d9\u306e\u7121\u99c4\u3082\u524a\u6e1b\u3067\u304d\u307e\u3059\u3002\u7d50\u679c\u3068\u3057\u3066\u3001\u9867\u5ba2\u5bfe\u5fdc\u306e\u8cea\u304c\u4e0a\u304c\u308a\u3001\u4f01\u696d\u5168\u4f53\u306e\u751f\u7523\u6027\u3068\u4fe1\u983c\u6027\u304c\u5411\u4e0a\u3057\u307e\u3059\u3002<\/p>\n

\u7d71\u5408\u3092\u6210\u529f\u3055\u305b\u308b\u306b\u306f\u3001\u73fe\u72b6\u306e\u628a\u63e1\u304b\u3089\u8a2d\u8a08\u3001\u79fb\u884c\u3001\u904b\u7528\u307e\u3067\u3092\u6bb5\u968e\u7684\u306b\u9032\u3081\u3001\u73fe\u5834\u306e\u58f0\u3092\u53cd\u6620\u3057\u305f\u4e01\u5be7\u306a\u5bfe\u5fdc\u304c\u6b20\u304b\u305b\u307e\u305b\u3093\u3002\u5f93\u696d\u54e1\u3078\u306e\u30c8\u30ec\u30fc\u30cb\u30f3\u30b0\u3084\u793e\u5185\u30b3\u30df\u30e5\u30cb\u30b1\u30fc\u30b7\u30e7\u30f3\u306e\u5fb9\u5e95\u3082\u91cd\u8981\u3067\u3059\u3002<\/p>\n

\u3053\u306e\u3088\u3046\u306b\u3001\u8a08\u753b\u7684\u306a\u30b7\u30b9\u30c6\u30e0\u7d71\u5408\u306f\u3001M&A\u306e\u6df7\u4e71\u3092\u9632\u304e\u3001\u4f01\u696d\u4fa1\u5024\u3092\u9ad8\u3081\u308b\u5927\u304d\u306a\u8981\u56e0\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n

3.PMI\u306e\u91cd\u8981\u6027\u2462\u3000\u4f01\u696d\u6587\u5316\u306e\u9055\u3044\u306b\u3088\u308b\u6469\u64e6\u3092\u6291\u3048\u3001\u793e\u54e1\u306e\u4e0d\u6e80\u3084\u96e2\u8077\u3092\u9632\u3050<\/h2>\n

PMI\u306f\u3001\u4f01\u696d\u6587\u5316\u306e\u9055\u3044\u304b\u3089\u751f\u307e\u308c\u308b\u6469\u64e6\u3092\u6291\u3048\u3001\u793e\u54e1\u306e\u4e0d\u6e80\u3084\u96e2\u8077\u3092\u9632\u3050\u305f\u3081\u306b\u3082\u91cd\u8981\u3067\u3059\u3002<\/span><\/strong><\/p>\n

M&A\u3067\u306f\u3001\u4ed5\u4e8b\u306e\u9032\u3081\u65b9\u3084\u4fa1\u5024\u89b3\u3001\u30b3\u30df\u30e5\u30cb\u30b1\u30fc\u30b7\u30e7\u30f3\u306e\u30b9\u30bf\u30a4\u30eb\u304c\u7570\u306a\u308b\u4f01\u696d\u540c\u58eb\u304c\u7d71\u5408\u3055\u308c\u308b\u305f\u3081\u3001\u793e\u5185\u306b\u6238\u60d1\u3044\u3084\u5bfe\u7acb\u304c\u751f\u3058\u3084\u3059\u304f\u306a\u308a\u307e\u3059\u3002\u3053\u308c\u3092\u653e\u7f6e\u3059\u308b\u3068\u3001\u30c1\u30fc\u30e0\u306e\u9023\u643a\u304c\u5d29\u308c\u3001\u751f\u7523\u6027\u306e\u4f4e\u4e0b\u3084\u512a\u79c0\u306a\u4eba\u6750\u306e\u6d41\u51fa\u306b\u3064\u306a\u304c\u308a\u307e\u3059\u3002<\/p>\n

\u305d\u306e\u305f\u3081PMI\u3067\u306f\u3001\u4e21\u793e\u306e\u6587\u5316\u306e\u73fe\u72b6\u3092\u4e01\u5be7\u306b\u5206\u6790\u3057\u3001\u9055\u3044\u3092\u53ef\u8996\u5316\u3057\u305f\u4e0a\u3067\u3001\u53cc\u65b9\u306e\u5f37\u307f\u3092\u6d3b\u304b\u3057\u305f\u65b0\u305f\u306a\u6587\u5316\u3065\u304f\u308a\u3092\u9032\u3081\u308b\u3053\u3068\u304c\u6b20\u304b\u305b\u307e\u305b\u3093\u3002<\/p>\n

\u7d4c\u55b6\u9663\u304c\u7387\u5148\u3057\u3066\u30d3\u30b8\u30e7\u30f3\u3092\u793a\u3059\u3053\u3068\u306b\u52a0\u3048\u3001\u73fe\u5834\u306e\u58f0\u3092\u53d6\u308a\u5165\u308c\u308b\u30dc\u30c8\u30e0\u30a2\u30c3\u30d7\u306e\u53d6\u308a\u7d44\u307f\u3084\u3001\u793e\u5185\u306e\u30ad\u30fc\u30d1\u30fc\u30bd\u30f3\u3092\u901a\u3058\u305f\u6a4b\u6e21\u3057\u304c\u52b9\u679c\u7684\u3067\u3059\u3002\u3053\u3046\u3057\u305f\u53d6\u308a\u7d44\u307f\u306b\u3088\u308a\u3001\u793e\u54e1\u304c\u81ea\u7136\u3068\u65b0\u3057\u3044\u6587\u5316\u306b\u99b4\u67d3\u307f\u3001\u7d44\u7e54\u5168\u4f53\u306e\u4e00\u4f53\u611f\u3068\u6210\u9577\u529b\u304c\u9ad8\u307e\u308a\u307e\u3059\u3002<\/p>\n

\u6587\u5316\u306e\u9055\u3044\u3092\u7121\u7406\u306b\u7d71\u4e00\u3059\u308b\u306e\u3067\u306f\u306a\u304f\u3001\u5c0a\u91cd\u3057\u5408\u3044\u306a\u304c\u3089\u878d\u5408\u3055\u305b\u3066\u3044\u304f\u3053\u3068\u3053\u305d\u304c\u3001PMI\u6210\u529f\u306e\u30ab\u30ae\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n

4.PMI\u306e\u91cd\u8981\u6027\u2463\u3000\u682a\u4e3b\u3084\u9867\u5ba2\u3001\u5f93\u696d\u54e1\u3068\u306e\u4fe1\u983c\u95a2\u4fc2\u3092\u7dad\u6301\u30fb\u5f37\u5316\u3059\u308b<\/h2>\n

PMI\u306f\u3001\u682a\u4e3b\u30fb\u9867\u5ba2\u30fb\u5f93\u696d\u54e1\u3068\u306e\u4fe1\u983c\u95a2\u4fc2\u3092\u7dad\u6301\u30fb\u5f37\u5316\u3067\u304d\u308b\u70b9\u3067\u3082\u91cd\u8981\u3067\u3059\u3002<\/strong><\/span><\/p>\n

M&A\u306b\u3088\u308b\u5909\u5316\u306f\u3001\u95a2\u4fc2\u8005\u306b\u4e0d\u5b89\u3084\u6df7\u4e71\u3092\u3082\u305f\u3089\u3057\u3084\u3059\u304f\u3001\u4fe1\u983c\u3092\u640d\u306a\u3046\u3068\u7d71\u5408\u30d7\u30ed\u30bb\u30b9\u5168\u4f53\u306b\u60aa\u5f71\u97ff\u3092\u53ca\u307c\u3057\u307e\u3059\u3002PMI\u3067\u306f\u3001\u3053\u308c\u3089\u306e\u95a2\u4fc2\u8005\u306b\u5bfe\u3057\u3066\u9069\u5207\u306a\u60c5\u5831\u5171\u6709\u3068\u30b3\u30df\u30e5\u30cb\u30b1\u30fc\u30b7\u30e7\u30f3\u3092\u5fb9\u5e95\u3057\u3001\u4e0d\u5b89\u3092\u548c\u3089\u3052\u308b\u3053\u3068\u304c\u4e0d\u53ef\u6b20\u3067\u3059\u3002<\/p>\n

\u682a\u4e3b\u306b\u306f\u3001PMI\u306e\u9032\u6357\u72b6\u6cc1\u3084\u4eca\u5f8c\u306e\u7d4c\u55b6\u6226\u7565\u3092\u308f\u304b\u308a\u3084\u3059\u304f\u4f1d\u3048\u3001\u5b89\u5fc3\u611f\u3092\u4e0e\u3048\u652f\u6301\u3092\u5f97\u308b\u3053\u3068\u3067\u7d4c\u55b6\u306e\u5b89\u5b9a\u5316\u3092\u56f3\u308a\u307e\u3059\u3002<\/p>\n

\u9867\u5ba2\u306b\u306f\u3001\u5408\u4f75\u306b\u3088\u308b\u30b5\u30fc\u30d3\u30b9\u3084\u88fd\u54c1\u306e\u5909\u5316\u3001\u65b0\u305f\u306a\u4fa1\u5024\u5275\u9020\u3092\u4e01\u5be7\u306b\u8aac\u660e\u3057\u3001\u6df7\u4e71\u3084\u96e2\u8131\u3092\u9632\u3050\u3053\u3068\u3067\u9577\u671f\u7684\u306a\u95a2\u4fc2\u3092\u7bc9\u304d\u307e\u3059\u3002<\/p>\n

\u5f93\u696d\u54e1\u306b\u306f\u3001\u900f\u660e\u6027\u306e\u9ad8\u3044\u60c5\u5831\u63d0\u4f9b\u3068\u53cc\u65b9\u5411\u306e\u30b3\u30df\u30e5\u30cb\u30b1\u30fc\u30b7\u30e7\u30f3\u3092\u901a\u3058\u3066\u4e0d\u5b89\u3092\u8efd\u6e1b\u3057\u3001\u30e2\u30c1\u30d9\u30fc\u30b7\u30e7\u30f3\u306e\u7dad\u6301\u30fb\u5411\u4e0a\u306b\u3064\u306a\u3052\u308b\u3053\u3068\u304c\u6c42\u3081\u3089\u308c\u307e\u3059\u3002<\/p>\n

\u3053\u3046\u3057\u305f\u4fe1\u983c\u95a2\u4fc2\u306e\u5f37\u5316\u304c\u3001PMI\u306e\u5186\u6ed1\u306a\u9032\u884c\u3068\u30b7\u30ca\u30b8\u30fc\u52b9\u679c\u306e\u6700\u5927\u5316\u3001\u3055\u3089\u306b\u306f\u4f01\u696d\u4fa1\u5024\u306e\u5411\u4e0a\u3092\u5b9f\u73fe\u3059\u308b\u30ab\u30ae\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n

5.PMI\u8cac\u4efb\u8005\u304c\u76f4\u9762\u3057\u3084\u3059\u3044\u30d7\u30ec\u30c3\u30b7\u30e3\u30fc\u3068\u5224\u65ad\u306e\u96e3\u3057\u3055<\/h2>\n

PMI\u8cac\u4efb\u8005\u306f\u3001M&A\u306e\u6210\u5426\u3092\u5de6\u53f3\u3059\u308b\u6975\u3081\u3066\u91cd\u8981\u306a\u5f79\u5272\u3092\u62c5\u3044\u3001\u5927\u304d\u306a\u30d7\u30ec\u30c3\u30b7\u30e3\u30fc\u306e\u4e2d\u3067\u610f\u601d\u6c7a\u5b9a\u3092\u8feb\u3089\u308c\u307e\u3059\u3002<\/strong><\/p>\n

\u7d71\u5408\u306e\u9032\u884c\u7ba1\u7406\u3001\u4f01\u696d\u6587\u5316\u306e\u8abf\u6574\u3001\u30b7\u30b9\u30c6\u30e0\u306e\u4e00\u672c\u5316\u306a\u3069\u3001\u5bfe\u5fdc\u3059\u3079\u304d\u8ab2\u984c\u306f\u591a\u5c90\u306b\u308f\u305f\u308a\u307e\u3059\u3002\u305d\u308c\u305e\u308c\u306b\u9ad8\u3044\u5c02\u9580\u6027\u3068\u30d0\u30e9\u30f3\u30b9\u611f\u899a\u304c\u6c42\u3081\u3089\u308c\u3001\u3055\u3089\u306b\u7d4c\u55b6\u9663\u3001\u73fe\u5834\u793e\u54e1\u3001\u9867\u5ba2\u3068\u3044\u3063\u305f\u591a\u69d8\u306a\u30b9\u30c6\u30fc\u30af\u30db\u30eb\u30c0\u30fc\u306e\u671f\u5f85\u3084\u5229\u5bb3\u3092\u8abf\u6574\u3059\u308b\u96e3\u3057\u3055\u3082\u52a0\u308f\u308a\u307e\u3059\u3002<\/p>\n

\u4e00\u3064\u306e\u5224\u65ad\u30df\u30b9\u304c\u3001\u793e\u54e1\u306e\u96e2\u8077\u3084\u9867\u5ba2\u306e\u96e2\u53cd\u3001\u7d71\u5408\u52b9\u679c\u306e\u6e1b\u5c11\u3068\u3044\u3063\u305f\u5927\u304d\u306a\u640d\u5931\u306b\u7e4b\u304c\u308b\u3053\u3068\u3082\u3042\u308a\u307e\u3059\u3002\u305d\u306e\u305f\u3081\u3001\u300c\u614e\u91cd\u3055\u300d\u3068\u300c\u30b9\u30d4\u30fc\u30c9\u300d\u306e\u4e21\u7acb\u304c\u5e38\u306b\u6c42\u3081\u3089\u308c\u308b\u306e\u3067\u3059\u3002<\/p>\n

\u5b9f\u969b\u3001PMI\u306e\u6210\u529f\u7387\u306f\u6c7a\u3057\u3066\u9ad8\u304f\u3042\u308a\u307e\u305b\u3093\u3002<\/u><\/strong><\/span>\u4e00\u822c\u7684\u306b70\u301c90\uff05\u306eM&A\u304c\u3001\u5f53\u521d\u671f\u5f85\u3057\u3066\u3044\u305f\u30b7\u30ca\u30b8\u30fc\u3084\u76ee\u6a19\u3092\u9054\u6210\u3067\u304d\u3066\u3044\u306a\u3044<\/strong><\/span>\u3068\u8a00\u308f\u308c\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u4e3b\u306a\u539f\u56e0\u3068\u3057\u3066\u306f\u6226\u7565\u3084\u76ee\u7684\u306e\u4e0d\u660e\u78ba\u306a\u307e\u307e\u8907\u6570\u306e\u30b7\u30ca\u30b8\u30fc\u3092\u540c\u6642\u306b\u8ffd\u6c42\u3057\u3001\u30ea\u30bd\u30fc\u30b9\u304c\u5206\u6563\u3057\u3066\u3057\u307e\u3046\u3053\u3068\u305d\u3057\u3066\u3001\u4f01\u696d\u6587\u5316\u306e\u9055\u3044\u306b\u3088\u308a\u4fa1\u5024\u5275\u51fa\u304c\u59a8\u3052\u3089\u308c\u308b\u3053\u3068\u304c\u6319\u3052\u3089\u308c\u307e\u3059\u3002\u3042\u308b\u8abf\u67fb\u3067\u306f\uff16\uff15\uff05\u306e\u4f01\u696d\u304c\u300c\u4f01\u696d\u6587\u5316\u306e\u4e0d\u4e00\u81f4\u304c\u4fa1\u5024\u5275\u51fa\u3092\u59a8\u3052\u305f\u300d\u3068\u56de\u7b54\u3057\u3066\u304a\u308a\u3001\u6587\u5316\u7d71\u5408\u306e\u96e3\u3057\u3055\u304c\u6d6e\u304d\u5f6b\u308a\u306b\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n

PMI\u3067\u6210\u679c\u3092\u4e0a\u3052\u308b\u305f\u3081\u306b\u306f\u3001\u300c\u306a\u3093\u3068\u304b\u306a\u308b\u3001\u3084\u308c\u3070\u3067\u304d\u308b\u300d\u3082\u306e\u3067\u306f\u306a\u304f\u3001\u6226\u7565\u7684\u30fb\u7d44\u7e54\u7684\u306a\u6e96\u5099\u3068\u5b9f\u884c\u529b\u304c\u4e0d\u53ef\u6b20\u3068\u8a00\u3048\u308b\u3067\u3057\u3087\u3046\u3002<\/u><\/strong><\/p>\n

\u3068\u306f\u3044\u3048\u3001\u5168\u3066\u3092\u4e00\u4eba\u3067\u62b1\u3048\u8fbc\u3080\u5fc5\u8981\u304c\u3042\u308a\u307e\u305b\u3093\u3002\u5916\u90e8\u306e\u5c02\u9580\u5bb6\u3084\u652f\u63f4\u30d1\u30fc\u30c8\u30ca\u30fc\u306e\u77e5\u898b\u3092\u3046\u307e\u304f\u6d3b\u7528<\/span>\u3059\u308b\u3053\u3068\u3067\u3001\u8ca0\u62c5\u3092\u5206\u8efd\u6e1b\u3057\u3001\u3088\u308a\u51b7\u9759\u304b\u3064\u6226\u7565\u7684\u306b\u9032\u3081\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002<\/p>\n

\u5b64\u72ec\u306b\u6226\u3046\u306e\u3067\u306f\u306a\u304f\u3001\u30c1\u30fc\u30e0\u3084\u5c02\u9580\u5bb6\u3068\u9023\u643a\u3057\u306a\u304c\u3089\u3001\u7740\u5b9f\u306b\u6b69\u3092\u9032\u3081\u308b\u3053\u3068\u304c\u3001PMI\u6210\u529f\u3078\u306e\u8fd1\u9053\u3067\u3059<\/strong>\u3002\u3042\u306a\u305f\u306e\u5224\u65ad\u4e00\u3064\u3072\u3068\u3064\u304c\u3001\u4f01\u696d\u306e\u672a\u6765\u3092\u7bc9\u3044\u3066\u3044\u304d\u307e\u3059\u3002<\/p>\n

6.PMI\u306e\u5c02\u9580\u652f\u63f4\u3092\u304a\u6c42\u3081\u306e\u65b9\u306f\u8fbb\u30fb\u672c\u90f7 FAS\u682a\u5f0f\u4f1a\u793e\u3092\u3054\u691c\u8a0e\u304f\u3060\u3055\u3044<\/h2>\n

PMI\u306f\u3001\u69d8\u3005\u306a\u8981\u7d20\u304c\u7d61\u307f\u5408\u3046\u975e\u5e38\u306b\u8907\u96d1\u306a\u30d7\u30ed\u30bb\u30b9\u3067\u3059\u3002\u305d\u306e\u5206\u3001\u8cac\u4efb\u8005\u306e\u8ca0\u62c5\u3082\u5927\u304d\u304f\u3001\u9650\u3089\u308c\u305f\u30ea\u30bd\u30fc\u30b9\u3060\u3051\u3067\u7d71\u5408\u3092\u6210\u529f\u306b\u5c0e\u304f\u306e\u306f\u7c21\u5358\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/p>\n

\u3060\u304b\u3089\u3053\u305d\u3001\u5c02\u9580\u7684\u306a\u652f\u63f4\u306e\u6d3b\u7528\u304cPMI\u6210\u529f\u306e\u30ab\u30ae<\/span><\/strong>\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n

PMI\u3092\u5186\u6ed1\u306b\u9032\u3081\u3001\u30b7\u30ca\u30b8\u30fc\u3092\u6700\u5927\u9650\u306b\u5f15\u304d\u51fa\u3059\u305f\u3081\u306b\u91cd\u8981\u306a\u30dd\u30a4\u30f3\u30c8<\/u><\/strong>\u306f\u3001\u6b21\u306e\u3088\u3046\u306a\u3082\u306e\u304c\u3042\u308a\u307e\u3059\u3002<\/p>\n

\n

\u30fb\u73fe\u72b6\u306e\u5206\u6790\u3068\u8ab2\u984c\u62bd\u51fa\u306e\u660e\u78ba\u5316<\/strong>\u2026\u5ba2\u89b3\u7684\u306b\u73fe\u72b6\u3092\u628a\u63e1\u3057\u3001\u8ab2\u984c\u3092\u6d17\u3044\u51fa\u3057\u307e\u3059\u3002<\/p>\n

\u30fb\u7d71\u5408\u8a08\u753b\u306e\u7acb\u6848\u3068\u9032\u884c\u7ba1\u7406<\/strong>\u2026\u30b4\u30fc\u30eb\u3092\u660e\u78ba\u306b\u3057\u3001\u8a08\u753b\u7684\u306b\u7d71\u5408\u3092\u9032\u3081\u307e\u3059\u3002<\/p>\n

\u30fb\u30b3\u30df\u30e5\u30cb\u30b1\u30fc\u30b7\u30e7\u30f3\u652f\u63f4<\/strong>\u2026\u7d4c\u55b6\u9663\u3068\u73fe\u5834\u306e\u610f\u601d\u758e\u901a\u3092\u5186\u6ed1\u306b\u3057\u307e\u3059\u3002<\/p>\n

\u30fb\u696d\u52d9\u30fb\u30b7\u30b9\u30c6\u30e0\u306e\u7d71\u5408\u652f\u63f4<\/strong>\u2026\u5b9f\u52d9\u30ec\u30d9\u30eb\u3067\u306e\u7d71\u5408\u4f5c\u696d\u3092\u30b5\u30dd\u30fc\u30c8\u3057\u307e\u3059\u3002<\/p>\n

\u30fb\u7d4c\u55b6\u5224\u65ad\u306e\u30b5\u30dd\u30fc\u30c8<\/strong>\u2026\u5224\u65ad\u306b\u5fc5\u8981\u306a\u60c5\u5831\u3084\u9078\u629e\u80a2\u3092\u63d0\u4f9b\u3057\u307e\u3059\u3002<\/p>\n<\/div>\n

\u3053\u308c\u3089\u306b\u3057\u3063\u304b\u308a\u5bfe\u5fdc\u3067\u304d\u308b\u306e\u304c\u3001\u8fbb\u30fb\u672c\u90f7 FAS\u682a\u5f0f\u4f1a\u793e<\/span><\/span><\/strong>\u3067\u3059\u3002<\/p>\n

\u8c4a\u5bcc\u306aPMI\u652f\u63f4\u306e\u5b9f\u7e3e\u3092\u3082\u3068\u306b\u3001\u30b7\u30b9\u30c6\u30e0\u7d71\u5408\u304b\u3089\u6587\u5316\u306e\u878d\u5408\u307e\u3067\u5e45\u5e83\u304f\u30b5\u30dd\u30fc\u30c8\u3057\u3001M&A\u306e\u52b9\u679c\u3092\u6700\u5927\u5316\u3059\u308b\u304a\u624b\u4f1d\u3044\u3092\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u3055\u3089\u306b\u3001PMI\u652f\u63f4\u306b\u3042\u308a\u304c\u3061\u306a\u300c\u6700\u521d\u3060\u3051\u5bc6\u63a5\u3067\u3001\u305d\u306e\u5f8c\u306f\u758e\u9060\u306b\u306a\u308b\u300d\u3068\u3044\u3063\u305f\u8ab2\u984c\u306b\u3082\u5bfe\u5fdc\u3067\u304d\u308b\u4f53\u5236\u304c\u3042\u308a\u307e\u3059\u3002<\/u><\/strong><\/p>\n

\u8fbb\u30fb\u672c\u90f7\u30b0\u30eb\u30fc\u30d7\u5168\u4f53\u306e\u9023\u643a\u306b\u3088\u308a\u3001\u652f\u63f4\u306f\u4e00\u904e\u6027<\/span>\u3067\u7d42\u308f\u308a\u307e\u305b\u3093\u3002<\/span><\/p>\n

\u305f\u3068\u3048\u3070\u3001\u8fbb\u30fb\u672c\u90f7 \u7a0e\u7406\u58eb\u6cd5\u4eba\u306e\u7a0e\u52d9\u9867\u554f\u304c\u7d99\u7d9a\u7684\u306b\u4f34\u8d70<\/strong>\u3057\u3001\u7d4c\u55b6\u4e0a\u306e\u30a2\u30e9\u30fc\u30c8\u3092\u65e9\u671f\u306b\u5bdf\u77e5\u30fb\u5bfe\u5fdc\u3067\u304d\u308b<\/strong><\/span>\u70b9\u306f\u3001\u5927\u304d\u306a\u5b89\u5fc3\u6750\u6599\u3068\u306a\u3063\u3066\u3044\u307e\u3059\u3002<\/p>\n

\u3053\u306e\u3088\u3046\u306b\u3001PMI\u306e\u8907\u96d1\u3055\u306b\u771f\u306b\u5bc4\u308a\u6dfb\u3044\u306a\u304c\u3089\u3001\u4e2d\u9577\u671f\u7684\u306b\u652f\u63f4\u3092\u7d9a\u3051\u3089\u308c\u308b\u306e\u306f\u3001\u8fbb\u30fb\u672c\u90f7 FAS\u682a\u5f0f\u4f1a\u793e\u306a\u3089\u3067\u306f\u306e\u5f37\u307f\u3067\u3059\u3002\u591a\u304f\u306e\u304a\u5ba2\u69d8\u304b\u3089\u3082\u3001\u7d99\u7d9a\u7684\u306a\u5b89\u5fc3\u611f\u3068\u652f\u63f4\u306e\u8cea\u306b\u3054\u8a55\u4fa1\u3092\u3044\u305f\u3060\u3044\u3066\u3044\u307e\u3059\u3002<\/p>\n

7.\u307e\u3068\u3081<\/h2>\n

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