Monday, Feb. 16, 2015 GROSS DOMESTIC PRODUCT: FOURTH QUARTER 2014 (FIRST PRELIMINARY) Ϩ㸬ᅜෆ⥲⏕⏘㸦ᨭฟഃ㸧ཬࡧྛ㟂せ㡯┠ 㸯㸫㸯㸬ᅄ༙ᮇูࡢᐇ㉁ᡂ㛗⋡㸦Ꮨ⠇ㄪᩚ⣔ิ㸧 '$7( 'HYHORSPHQWRI5HDO*'3㸦4XDUWHUO\VHDVRQDOO\DGMXVWHGVHULHV ๓ᮇẚ 㸦Ꮨ⠇ㄪᩚ῭㸧 ͤ ๓ᮇẚࡢ ᖺ⋡⟬ ͤ 㸦ᬺᖺ㐃㙐౯᱁㸹ࠉ༢㸸㸣㸧 ᖺ࣭ᮇ ᅜ ෆ ⥲ ⏕ ⏘ 㸦 㹅 㹂 㹎 㸧 ෆ 㟂 せ 㹼 㡯ࠉࠉࠉ┠ ᅜ &KDLQHG\HQ 㹼 㹼 㹼 㹼 㹼 㻳㼞㼛㼟㼟㻌㻰㼛㼙㼑㼟㼠㼕㼏㻌㻼㼞㼛㼐㼡㼏㼠 㻰㼛㼙㼑㼟㼠㼕㼏㻌㻰㼑㼙㼍㼚㼐 せ Ẹ 㛫 ᭱ ⤊ ᾘ ㈝ ᨭ ฟ 㻌㻼㼞㼕㼢㼍㼠㼑㻌㻯㼛㼚㼟㼡㼙㼜㼠㼕㼛㼚 ᐙ ィ ᭱ ⤊ ᾘ ㈝ ᨭ ฟ 㻌㻴㼛㼡㼟㼑㼔㼛㼘㼐㼟 㝖ࡃᣢࡕᐙࡢᖐᒓᐙ㈤ Ꮿ ഛ Ẹ 㛫 Ẹ 㛫 Ẹ Ẹ 㟂 㛫 㛫 ఫ ᅾ ᴗ ᗜ ရ タ ቑ ຍ 㻼㼞㼕㼢㼍㼠㼑㻌㻰㼑㼙㼍㼚㼐 㻌㻯㼛㼚㼟㼡㼙㼜㼠㼕㼛㼚㻌㼛㼒 㻌㻱㼤㼏㼘㼡㼐㼕㼚㼓 㻌㻵㼙㼜㼡㼠㼑㼐㻌㻾㼑㼚㼠 㻼㼞㼕㼢㼍㼠㼑㻌㻾㼑㼟㼕㼐㼑㼚㼠㼕㼍㼘 㻵㼚㼢㼑㼟㼠㼙㼑㼚㼠 㻼㼞㼕㼢㼍㼠㼑㻌㻺㼛㼚㻙㻾㼑㼟㼕㻚 㻵㼚㼢㼑㼟㼠㼙㼑㼚㼠 㻌㻯㼔㼍㼚㼓㼑㻌㼕㼚㻌㻼㼞㼕㼢㼍㼠㼑㻌㻵㼚㼢㼑㼚㼠㼛㼞㼥 せ 㻼㼡㼎㼘㼕㼏㻌㻰㼑㼙㼍㼚㼐 ᨻ ᗓ ᭱ ⤊ ᾘ ㈝ ᨭ ฟ 㻌㻳㼛㼢㼑㼞㼚㼙㼑㼚㼠㻌㻯㼛㼚㼟㼡㼙㼜㼠㼕㼛㼚 බ ⓗ ᅛ ᐃ ㈨ ᮏ ᙧ ᡂ 㻌㻼㼡㼎㼘㼕㼏㻌㻵㼚㼢㼑㼟㼠㼙㼑㼚㼠 බ ⓗ 㟂 ຍ ᥖ⥲ᅛᐃ㈨ᮏᙧᡂ ͤ බ ⓗ ᅾ ᗜ ရ ቑ ㈈㈌࣭ࢧ࣮ࣅࢫࡢ⣧㍺ฟ ͤ ㈈ ㈌ ࣭ ࢧ ࣮ ࣅ ࢫ ࡢ ㍺ ฟ ᥍㝖㈈㈌࣭ࢧ࣮ࣅࢫࡢ㍺ධ 㻌㻯㼔㼍㼚㼓㼑㻌㼕㼚㻌㻼㼡㼎㼘㼕㼏㻌㻵㼚㼢㼑㼚㼠㼛㼞㼥 㻔㻾㼑㼓㼞㼛㼡㼜㼑㼐㻕㻌㻳㼞㼛㼟㼟㻌㻲㼕㼤㼑㼐㻌㻯㼍㼜㼕㼠㼍㼘 㻲㼛㼞㼙㼍㼠㼕㼛㼚㻌㻌䈜㻟 㻺㼑㼠㻌㻱㼤㼜㼛㼞㼠㼟㻌㼛㼒㻌㻳㼛㼛㼐㼟㻌㻒㻌㻿㼑㼞㼢㼕㼏㼑㼟 䈜㻠 㻌㻱㼤㼜㼛㼞㼠㼟㻌㼛㼒㻌㻳㼛㼛㼐㼟㻌㻒㻌㻿㼑㼞㼢㼕㼏㼑㼟 㻌㻔㻸㼑㼟㼟㻕㻌㻵㼙㼜㼛㼞㼠㼟㻌㼛㼒㻌㻳㼛㼛㼐㼟㻌㻒 㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㻿㼑㼞㼢㼕㼏㼑㼟 㸦ὀ㸧ࠉ㸦ࠉ㸧ෆࡣᅜෆ⥲⏕⏘ᑐࡍࡿᐤᗘࢆ⾲ࡍࠋ 1RWH7KH)LJXUHVLQ㸦㸧LQGLFDWHFRQWULEXWLRQVWR&KDQJHVLQ*'3 㸦ཧ⪃㸧 ᅜ ෆ ⥲ ᡤ ᚓ 㸦 㹅 㹂 㹇 㸧 㻳㼞㼛㼟㼟㻌㻰㼛㼙㼑㼟㼠㼕㼏㻌㻵㼚㼏㼛㼙㼑 ᅜ Ẹ ⥲ ᡤ ᚓ 㸦 㹅 㹌 㹇 㸧 㻳㼞㼛㼟㼟㻌㻺㼍㼠㼕㼛㼚㼍㼘㻌㻵㼚㼏㼛㼙㼑 㞠 ⏝ ⪅ ሗ 㓘 㸦 ᐇ ㉁ 㸧 㻯㼛㼙㼜㼑㼚㼟㼍㼠㼕㼛㼚㻌㼛㼒㻌㻱㼙㼜㼘㼛㼥㼑㼑㼟 㻔㻾㼑㼍㼘㻕 ͤ&KDQJHVIURPWKHSUHYLRXVTXDUWHUVHDVRQDOO\DGMXVWHG ͤ$QQXDOUDWH ͤ⥲ᅛᐃ㈨ᮏᙧᡂࡣẸ㛫ఫᏯࠊẸ㛫ᴗタഛࠊබⓗᅛᐃ㈨ᮏᙧᡂࡽᡂࡿࠋ *URVV)L[HG&DSLWDO)RUPDWLRQFRQVLVWVRI3ULYDWH5HVLGHQWLDO,QYHVWPHQW3ULYDWH1RQ5HVL,QYHVWPHQWDQG3XEOLF,QYHVWPHQW ͤ㈈㈌࣭ࢧ࣮ࣅࢫࡢ⣧㍺ฟ㸻㈈㈌࣭ࢧ࣮ࣅࢫࡢ㍺ฟ࣮㈈㈌࣭ࢧ࣮ࣅࢫࡢ㍺ධ 1HW([SRUWVRI*RRGV6HUYLFHV ([SRUWVRI*RRGV6HUYLFHV,PSRUWVRI*RRGV6HUYLFHV ⣧㍺ฟࡢᐤᗘࡣ㍺ฟ㍺ධࡢᐤᗘࡢᕪࡼࡗ࡚ồࡵ࡚࠸ࡿࠋ 7KHFRQWULEXWLRQLVFDOFXODWHGDVWKHFRQWULEXWLRQRI([SRUWV/HVVWKDWRI,PSRUWV 㸯㸫㸰㸬ᅄ༙ᮇูࡢᐇ㉁ᡂ㛗⋡㸦ཎ⣔ิ㸧 '$7( 'HYHORSPHQWRI5HDO*'3㸦4XDUWHUO\RULJLQDOVHULHV ๓ᖺྠᮇẚ ͤ 㸦ᬺᖺ㐃㙐౯᱁㸹ࠉ༢㸸㸣㸧 ᖺ࣭ᮇ ᅜ ෆ ⥲ ⏕ ⏘ 㸦 㹅 㹂 㹎 㸧 ෆ 㟂 せ 㹼 㡯ࠉࠉࠉ┠ ᅜ &KDLQHG\HQ 㹼 㹼 㹼 㹼 㻳㼞㼛㼟㼟㻌㻰㼛㼙㼑㼟㼠㼕㼏㻌㻼㼞㼛㼐㼡㼏㼠 㻰㼛㼙㼑㼟㼠㼕㼏㻌㻰㼑㼙㼍㼚㼐 せ Ẹ 㛫 ᭱ ⤊ ᾘ ㈝ ᨭ ฟ 㻌㻌㻼㼞㼕㼢㼍㼠㼑㻌㻯㼛㼚㼟㼡㼙㼜㼠㼕㼛㼚 ᐙ ィ ᭱ ⤊ ᾘ ㈝ ᨭ ฟ 㻌㻌㻴㼛㼡㼟㼑㼔㼛㼘㼐㼟 㝖ࡃᣢࡕᐙࡢᖐᒓᐙ㈤ Ꮿ ഛ Ẹ 㛫 Ẹ 㛫 Ẹ Ẹ 㟂 㛫 㛫 ఫ ᅾ ᴗ ᗜ ရ タ ቑ ຍ 㻼㼞㼕㼢㼍㼠㼑㻌㻰㼑㼙㼍㼚㼐 㻌㻌㻯㼛㼚㼟㼡㼙㼜㼠㼕㼛㼚㻌㼛㼒 㻌㻌㻱㼤㼏㼘㼡㼐㼕㼚㼓 㻌㻌㻵㼙㼜㼡㼠㼑㼐㻌㻾㼑㼚㼠 㻌㻼㼞㼕㼢㼍㼠㼑㻌㻾㼑㼟㼕㼐㼑㼚㼠㼕㼍㼘 㻌㻵㼚㼢㼑㼟㼠㼙㼑㼚㼠 㻌㻼㼞㼕㼢㼍㼠㼑㻌㻺㼛㼚㻙㻾㼑㼟㼕㻚 㻌㻵㼚㼢㼑㼟㼠㼙㼑㼚㼠 㻌㻌㻯㼔㼍㼚㼓㼑㻌㼕㼚㻌㻼㼞㼕㼢㼍㼠㼑㻌㻵㼚㼢㼑㼚㼠㼛㼞㼥 せ ᨻ ᗓ ᭱ ⤊ ᾘ ㈝ ᨭ ฟ බ ⓗ ᅛ ᐃ ㈨ ᮏ ᙧ ᡂ 㻌㻌㻼㼡㼎㼘㼕㼏㻌㻵㼚㼢㼑㼟㼠㼙㼑㼚㼠 ຍ ᥖ⥲ᅛᐃ㈨ᮏᙧᡂ ͤ බ ⓗ බ ⓗ ᅾ 㟂 ᗜ ရ ቑ ㈈㈌࣭ࢧ࣮ࣅࢫࡢ⣧㍺ฟ ͤ ㈈ ㈌ ࣭ ࢧ ࣮ ࣅ ࢫ ࡢ ㍺ ฟ ᥍㝖㈈㈌࣭ࢧ࣮ࣅࢫࡢ㍺ධ 㻼㼡㼎㼘㼕㼏㻌㻰㼑㼙㼍㼚㼐 㻌㻌㻳㼛㼢㼑㼞㼚㼙㼑㼚㼠㻌㻯㼛㼚㼟㼡㼙㼜㼠㼕㼛㼚 㻌㻌㻯㼔㼍㼚㼓㼑㻌㼕㼚㻌㻼㼡㼎㼘㼕㼏㻌㻵㼚㼢㼑㼚㼠㼛㼞㼥 㻌㻌㻔㻾㼑㼓㼞㼛㼡㼜㼑㼐㻕㻌㻌㻳㼞㼛㼟㼟㻌㻌㻲㼕㼤㼑㼐㻌㻯㼍㼜㼕㼠㼍㼘 㻌㻲㼛㼞㼙㼍㼠㼕㼛㼚㻌㻌䈜㻞 㻺㼑㼠㻌㻱㼤㼜㼛㼞㼠㼟㻌㼛㼒㻌㻳㼛㼛㼐㼟㻌㻒㻌㻿㼑㼞㼢㼕㼏㼑㼟 䈜㻟 㻌㻌㻱㼤㼜㼛㼞㼠㼟㻌㼛㼒㻌㻳㼛㼛㼐㼟㻌㻒㻌㻿㼑㼞㼢㼕㼏㼑㼟 㻌㻌㻔㻸㼑㼟㼟㻕㻌㻵㼙㼜㼛㼞㼠㼟㻌㼛㼒㻌㻳㼛㼛㼐㼟㻌㻒 㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㻿㼑㼞㼢㼕㼏㼑㼟 㸦ὀ㸧ࠉ㸦ࠉ㸧ෆࡣᅜෆ⥲⏕⏘ᑐࡍࡿᐤᗘࢆ⾲ࡍࠋ 1RWH7KH)LJXUHVLQ㸦㸧LQGLFDWHFRQWULEXWLRQVWR&KDQJHVLQ*'3 㸦ཧ⪃㸧 ᅜ ෆ ⥲ ᡤ ᚓ 㸦 㹅 㹂 㹇 㸧 㻳㼞㼛㼟㼟㻌㻰㼛㼙㼑㼟㼠㼕㼏㻌㻵㼚㼏㼛㼙㼑 ᅜ Ẹ ⥲ ᡤ ᚓ 㸦 㹅 㹌 㹇 㸧 㻳㼞㼛㼟㼟㻌㻺㼍㼠㼕㼛㼚㼍㼘㻌㻵㼚㼏㼛㼙㼑 㞠 ⏝ ⪅ ሗ 㓘 㸦 ᐇ ㉁ 㸧 㻯㼛㼙㼜㼑㼚㼟㼍㼠㼕㼛㼚㻌㼛㼒㻌㻱㼙㼜㼘㼛㼥㼑㼑㼟 㻔㻾㼑㼍㼘㻕 ͤ&KDQJHVIURPWKHSUHYLRXV\HDU ͤ⥲ᅛᐃ㈨ᮏᙧᡂࡣẸ㛫ఫᏯࠊẸ㛫ᴗタഛࠊබⓗᅛᐃ㈨ᮏᙧᡂࡽᡂࡿࠋ *URVV)L[HG&DSLWDO)RUPDWLRQFRQVLVWVRI3ULYDWH5HVLGHQWLDO,QYHVWPHQW3ULYDWH1RQ5HVL,QYHVWPHQWDQG3XEOLF,QYHVWPHQW ͤ㈈㈌࣭ࢧ࣮ࣅࢫࡢ⣧㍺ฟ㸻㈈㈌࣭ࢧ࣮ࣅࢫࡢ㍺ฟ࣮㈈㈌࣭ࢧ࣮ࣅࢫࡢ㍺ධ 1HW([SRUWVRI*RRGV6HUYLFHV ([SRUWVRI*RRGV6HUYLFHV,PSRUWVRI*RRGV6HUYLFHV ⣧㍺ฟࡢᐤᗘࡣ㍺ฟ㍺ධࡢᐤᗘࡢᕪࡼࡗ࡚ồࡵ࡚࠸ࡿࠋ 7KHFRQWULEXWLRQLVFDOFXODWHGDVWKHFRQWULEXWLRQRI([SRUWV/HVVWKDWRI,PSRUWV 㸯㸫㸱㸬ᅄ༙ᮇูࡢྡ┠ᡂ㛗⋡㸦Ꮨ⠇ㄪᩚ⣔ิ㸧 '$7( 'HYHORSPHQWRI1RPLQDO*'3㸦4XDUWHUO\VHDVRQDOO\DGMXVWHGVHULHV ๓ᮇẚ 㸦Ꮨ⠇ㄪᩚ῭㸧 ͤ ๓ᮇẚࡢ ᖺ⋡⟬ ͤ 㸦༢㸸㸣㸧 㸦㸣㸧 ᖺ࣭ᮇ 㹼 㡯ࠉࠉࠉ┠ ᅜ ෆ ⥲ ⏕ ⏘ 㸦 㹅 㹂 㹎 㸧 ᅜ ෆ 㟂 せ 㹼 㹼 㹼 㹼 㹼 㻳㼞㼛㼟㼟㻌㻰㼛㼙㼑㼟㼠㼕㼏㻌㻼㼞㼛㼐㼡㼏㼠 㻰㼛㼙㼑㼟㼠㼕㼏㻌㻰㼑㼙㼍㼚㼐 せ Ẹ 㛫 ᭱ ⤊ ᾘ ㈝ ᨭ ฟ 㻌㻼㼞㼕㼢㼍㼠㼑㻌㻯㼛㼚㼟㼡㼙㼜㼠㼕㼛㼚 ᐙ ィ ᭱ ⤊ ᾘ ㈝ ᨭ ฟ 㻌㻴㼛㼡㼟㼑㼔㼛㼘㼐㼟 㝖ࡃᣢࡕᐙࡢᖐᒓᐙ㈤ Ꮿ ഛ Ẹ 㛫 Ẹ 㛫 Ẹ Ẹ 㟂 㛫 㛫 ఫ ᅾ ᴗ ᗜ ရ タ ቑ ຍ 㻼㼞㼕㼢㼍㼠㼑㻌㻰㼑㼙㼍㼚㼐 㻌㻯㼛㼚㼟㼡㼙㼜㼠㼕㼛㼚㻌㼛㼒 㻌㻱㼤㼏㼘㼡㼐㼕㼚㼓 㻌㻵㼙㼜㼡㼠㼑㼐㻌㻾㼑㼚㼠 㻌㻼㼞㼕㼢㼍㼠㼑㻌㻾㼑㼟㼕㼐㼑㼚㼠㼕㼍㼘 㻌㻵㼚㼢㼑㼟㼠㼙㼑㼚㼠 㻌㻼㼞㼕㼢㼍㼠㼑㻌㻺㼛㼚㻙㻾㼑㼟㼕㻚 㻌㻵㼚㼢㼑㼟㼠㼙㼑㼚㼠 㻌㻯㼔㼍㼚㼓㼑㻌㼕㼚㻌㻼㼞㼕㼢㼍㼠㼑㻌㻵㼚㼢㼑㼚㼠㼛㼞㼥 せ ᨻ ᗓ ᭱ ⤊ ᾘ ㈝ ᨭ ฟ බ ⓗ ᅛ ᐃ ㈨ ᮏ ᙧ ᡂ 㻌㻼㼡㼎㼘㼕㼏㻌㻵㼚㼢㼑㼟㼠㼙㼑㼚㼠 බ ⓗ 㟂 ຍ ᥖ⥲ᅛᐃ㈨ᮏᙧᡂͤ බ ⓗ ᅾ ᗜ ရ ቑ ㈈㈌࣭ࢧ࣮ࣅࢫࡢ⣧㍺ฟ ͤ ㈈ ㈌ ࣭ ࢧ ࣮ ࣅ ࢫ ࡢ ㍺ ฟ ᥍㝖㈈㈌࣭ࢧ࣮ࣅࢫࡢ㍺ධ 㻼㼡㼎㼘㼕㼏㻌㻰㼑㼙㼍㼚㼐 㻌㻳㼛㼢㼑㼞㼚㼙㼑㼚㼠㻌㻯㼛㼚㼟㼡㼙㼜㼠㼕㼛㼚 㻌㻯㼔㼍㼚㼓㼑㻌㼕㼚㻌㻼㼡㼎㼘㼕㼏㻌㻵㼚㼢㼑㼚㼠㼛㼞㼥 㻔㻾㼑㼓㼞㼛㼡㼜㼑㼐㻕㻌㻳㼞㼛㼟㼟㻌㻲㼕㼤㼑㼐㻌㻯㼍㼜㼕㼠㼍㼘 㻲㼛㼞㼙㼍㼠㼕㼛㼚㻌㻌䈜㻟 㻺㼑㼠㻌㻱㼤㼜㼛㼞㼠㼟㻌㼛㼒㻌㻳㼛㼛㼐㼟㻌㻒㻌㻿㼑㼞㼢㼕㼏㼑㼟 䈜㻠 㻌㻱㼤㼜㼛㼞㼠㼟㻌㼛㼒㻌㻳㼛㼛㼐㼟㻌㻒㻌㻿㼑㼞㼢㼕㼏㼑㼟 㻌㻔㻸㼑㼟㼟㻕㻌㻵㼙㼜㼛㼞㼠㼟㻌㼛㼒㻌㻳㼛㼛㼐㼟㻌㻒 㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㻿㼑㼞㼢㼕㼏㼑㼟 㸦ὀ㸧ࠉ㸦ࠉ㸧ෆࡣᅜෆ⥲⏕⏘ᑐࡍࡿᐤᗘࢆ⾲ࡍࠋ 1RWH7KH)LJXUHVLQ㸦㸧LQGLFDWHFRQWULEXWLRQVWR&KDQJHVLQ*'3 㸦ཧ⪃㸧 ᅜ Ẹ ⥲ ᡤ ᚓ 㸦 㹅 㹌 㹇 㸧 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㻌㻌㻯㼔㼍㼚㼓㼑㻌㼕㼚㻌㻼㼞㼕㼢㼍㼠㼑㻌㻵㼚㼢㼑㼚㼠㼛㼞㼥 せ ᨻ ᗓ ᭱ ⤊ ᾘ ㈝ ᨭ ฟ බ ⓗ ᅛ ᐃ ㈨ ᮏ ᙧ ᡂ 㻌㻌㻼㼡㼎㼘㼕㼏㻌㻵㼚㼢㼑㼟㼠㼙㼑㼚㼠 ຍ ᥖ⥲ᅛᐃ㈨ᮏ ᙧᡂͤ බ ⓗ බ ⓗ ᅾ 㟂 ᗜ ရ ቑ ㈈㈌࣭ࢧ࣮ࣅࢫࡢ⣧㍺ฟ ͤ ㈈ ㈌ ࣭ ࢧ ࣮ ࣅ ࢫ ࡢ ㍺ ฟ ᥍㝖㈈㈌࣭ࢧ࣮ࣅࢫࡢ㍺ධ 㻼㼡㼎㼘㼕㼏㻌㻰㼑㼙㼍㼚㼐 㻌㻌㻳㼛㼢㼑㼞㼚㼙㼑㼚㼠㻌㻯㼛㼚㼟㼡㼙㼜㼠㼕㼛㼚 㻌㻌㻯㼔㼍㼚㼓㼑㻌㼕㼚㻌㻼㼡㼎㼘㼕㼏㻌㻵㼚㼢㼑㼚㼠㼛㼞㼥 㻔㻾㼑㼓㼞㼛㼡㼜㼑㼐㻕㻌㻌㻳㼞㼛㼟㼟㻌㻌㻲㼕㼤㼑㼐㻌㻯㼍㼜㼕㼠㼍㼘 㻲㼛㼞㼙㼍㼠㼕㼛㼚㻌㻌䈜㻞 㻺㼑㼠㻌㻱㼤㼜㼛㼞㼠㼟㻌㼛㼒㻌㻳㼛㼛㼐㼟㻌㻒㻌㻿㼑㼞㼢㼕㼏㼑㼟 䈜㻟 㻌㻌㻱㼤㼜㼛㼞㼠㼟㻌㼛㼒㻌㻳㼛㼛㼐㼟㻌㻒㻌㻿㼑㼞㼢㼕㼏㼑㼟 㻌㻌㻔㻸㼑㼟㼟㻕㻌㻵㼙㼜㼛㼞㼠㼟㻌㼛㼒㻌㻳㼛㼛㼐㼟㻌㻒 㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㻿㼑㼞㼢㼕㼏㼑㼟 㸦ὀ㸧ࠉ㸦ࠉ㸧ෆࡣᅜෆ⥲⏕⏘ᑐࡍࡿᐤᗘࢆ⾲ࡍࠋ 1RWH7KH)LJXUHVLQ㸦㸧LQGLFDWHFRQWULEXWLRQVWR&KDQJHVLQ*'3 㸦ཧ⪃㸧 ᅜ Ẹ ⥲ ᡤ ᚓ 㸦 㹅 㹌 㹇 㸧 㻳㼞㼛㼟㼟㻌㻺㼍㼠㼕㼛㼚㼍㼘㻌㻵㼚㼏㼛㼙㼑 㞠 ⏝ ⪅ ሗ 㓘 㸦 ྡ ┠ 㸧 㻯㼛㼙㼜㼑㼚㼟㼍㼠㼕㼛㼚㻌㼛㼒㻌㻱㼙㼜㼘㼛㼥㼑㼑㼟 㻔㻺㼛㼙㼕㼚㼍㼘㻕 㹅 㹂 㹎 ࢹ ࣇ ࣞ ࣮ ࢱ ࣮ 㻳㻰㻼㻌㻰㼑㼒㼘㼍㼠㼛㼞 ᅜ ෆ 㟂 せ ࢹ ࣇ ࣞ ࣮ ࢱ ࣮ 㻰㼛㼙㼑㼟㼠㼕㼏㻌㻰㼑㼙㼍㼚㼐㻌㻰㼑㼒㼘㼍㼠㼛㼞 ͤ&KDQJHVIURPWKHSUHYLRXV\HDU ͤ⥲ᅛᐃ㈨ᮏᙧᡂࡣẸ㛫ఫᏯࠊẸ㛫ᴗタഛࠊබⓗᅛᐃ㈨ᮏᙧᡂࡽᡂࡿࠋ *URVV)L[HG&DSLWDO)RUPDWLRQFRQVLVWVRI3ULYDWH5HVLGHQWLDO,QYHVWPHQW3ULYDWH1RQ5HVL,QYHVWPHQWDQG3XEOLF,QYHVWPHQW ͤ㈈㈌࣭ࢧ࣮ࣅࢫࡢ⣧㍺ฟ㸻㈈㈌࣭ࢧ࣮ࣅࢫࡢ㍺ฟ࣮㈈㈌࣭ࢧ࣮ࣅࢫࡢ㍺ධ 1HW([SRUWVRI*RRGV6HUYLFHV ([SRUWVRI*RRGV6HUYLFHV,PSRUWVRI*RRGV6HUYLFHV ⣧㍺ฟࡢᐤᗘࡣ㍺ฟ㍺ධࡢᐤᗘࡢᕪࡼࡗ࡚ồࡵ࡚࠸ࡿࠋ 7KHFRQWULEXWLRQLVFDOFXODWHGDVWKHFRQWULEXWLRQRI([SRUWV/HVVWKDWRI,PSRUWV 㸰㸫㸯ᖺḟูࡢᐇ㉁ᡂ㛗⋡ '$7( 'HYHORSPHQWRI5HDO*'3㸦$QQXDO ๓ᖺẚ ͤ ᬺᖺ㐃㙐౯᱁㸹ࠉ༢㸸㸣㸧 &KDLQHG\HQ ᖺᗘ)LVFDO<HDU ᖺ 㡯ࠉࠉࠉ┠ ᬺᖺ&DOHQGDU<HDU せ Ẹ 㛫 ᭱ ⤊ ᾘ ㈝ ᨭ ฟ 㻌㻌㻼㼞㼕㼢㼍㼠㼑㻌㻯㼛㼚㼟㼡㼙㼜㼠㼕㼛㼚 ᐙ ィ ᭱ ⤊ ᾘ ㈝ ᨭ ฟ 㻌㻌㻴㼛㼡㼟㼑㼔㼛㼘㼐㼟 㝖ࡃᣢࡕᐙࡢᖐᒓᐙ㈤ 㻌㻌㻵㼙㼜㼡㼠㼑㼐㻌㻾㼑㼚㼠 Ꮿ 㻌㻌㻵㼚㼢㼑㼟㼠㼙㼑㼚㼠 ഛ 㻌㻌㻵㼚㼢㼑㼟㼠㼙㼑㼚㼠 ຍ せ ᨻ ᗓ ᭱ ⤊ ᾘ ㈝ ᨭ ฟ බ ⓗ ᅛ ᐃ ㈨ ᮏ ᙧ ᡂ 㻌㻌㻼㼡㼎㼘㼕㼏㻌㻵㼚㼢㼑㼟㼠㼙㼑㼚㼠 ຍ ᥖ ⥲ ᅛ ᐃ ㈨ ᮏ ᙧ ᡂ ͤ ᅜ ෆ ⥲ ⏕ ⏘ 㸦 㹅 㹂 㹎 㸧 ᅜ ෆ Ẹ 㟂 㛫 Ẹ Ẹ Ẹ 㛫 㛫 බ ఫ ᅾ ᴗ ᗜ ⓗ බ ⓗ ᅾ タ ရ ቑ 㟂 ᗜ 㻰㼛㼙㼑㼟㼠㼕㼏㻌㻰㼑㼙㼍㼚㼐 せ 㟂 㛫 㻳㼞㼛㼟㼟㻌㻰㼛㼙㼑㼟㼠㼕㼏㻌㻼㼞㼛㼐㼡㼏㼠 ရ ቑ ㈈㈌࣭ࢧ࣮ࣅࢫࡢ⣧㍺ฟ ͤ 㻼㼞㼕㼢㼍㼠㼑㻌㻌㻰㼑㼙㼍㼚㼐 㻌㻌㻯㼛㼚㼟㼡㼙㼜㼠㼕㼛㼚㻌㼛㼒 㻌㻌㻱㼤㼏㼘㼡㼐㼕㼚㼓 㻌㻌㻼㼞㼕㼢㼍㼠㼑㻌㻾㼑㼟㼕㼐㼑㼚㼠㼕㼍㼘 㻌㻌㻼㼞㼕㼢㼍㼠㼑㻌㻺㼛㼚㻙㻾㼑㼟㼕㻚 㻌㻌㻯㼔㼍㼚㼓㼑㻌㼕㼚㻌㻼㼞㼕㼢㼍㼠㼑㻌㻵㼚㼢㼑㼚㼠㼛㼞㼥 㻼㼡㼎㼘㼕㼏㻌㻰㼑㼙㼍㼚㼐 㻌㻌㻳㼛㼢㼑㼞㼚㼙㼑㼚㼠㻌㻯㼛㼚㼟㼡㼙㼜㼠㼕㼛㼚 㻌㻌㻯㼔㼍㼚㼓㼑㻌㼕㼚㻌㻼㼡㼎㼘㼕㼏㻌㻵㼚㼢㼑㼚㼠㼛㼞㼥 㻔㻾㼑㼓㼞㼛㼡㼜㼑㼐㻕㻌㻳㼞㼛㼟㼟㻌㻲㼕㼤㼑㼐㻌㻯㼍㼜㼕㼠㼍㼘 㻲㼛㼞㼙㼍㼠㼕㼛㼚㻌㻌䈜㻞 㻺㼑㼠㻌㻱㼤㼜㼛㼞㼠㼟㻌㼛㼒㻌㻳㼛㼛㼐㼟㻌㻒㻌㻿㼑㼞㼢㼕㼏㼑㼟 䈜㻟 ㈈ ㈌ ࣭ ࢧ ࣮ ࣅ ࢫ ࡢ ㍺ ฟ 㻌㻌㻱㼤㼜㼛㼞㼠㼟㻌㼛㼒㻌㻳㼛㼛㼐㼟㻌㻒㻌㻿㼑㼞㼢㼕㼏㼑㼟 ᥍㝖㈈㈌࣭ࢧ࣮ࣅࢫࡢ㍺ධ 㻌㻌㻔㻸㼑㼟㼟㻕㻌㻵㼙㼜㼛㼞㼠㼟㻌㼛㼒㻌㻳㼛㼛㼐㼟㻌㻒 㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㻌㻿㼑㼞㼢㼕㼏㼑㼟 㸦ὀ㸧ࠉ㸦ࠉ㸧ෆࡣᅜෆ⥲⏕⏘ᑐࡍࡿᐤᗘࢆ⾲ࡍࠋ 1RWH7KH)LJXUHVLQ㸦㸧LQGLFDWHFRQWULEXWLRQVWR&KDQJHVLQ*'3 㸦ཧ⪃㸧 ᅜ ෆ ⥲ ᡤ ᚓ 㸦 㹅 㹂 㹇 㸧 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