{"author_name":"kyorosukeke","html":"<iframe src=\"https://hatenablog-parts.com/embed?url=https%3A%2F%2Fkyorosukeke.hatenablog.com%2Fentry%2F2026%2F05%2F08%2F115807\" title=\"\u30d6\u30e9\u30f3\u30c9\u30fb\u30e2\u30fc\u30c8\u306e\u8cde\u5473\u671f\u9650\u2014\u2014CAP\u30d5\u30ec\u30fc\u30e0\u30ef\u30fc\u30af\u3067\u8aad\u3080\u72ec\u9ad8\u7d1a\u8eca\u306e\u4e2d\u56fd\u5e02\u5834\u6557\u9000 - \u3068\u3042\u308b\u6295\u8cc7\u5bb6\u306e\u5b66\u7fd2\u5e33\" class=\"embed-card embed-blogcard\" scrolling=\"no\" frameborder=\"0\" style=\"display: block; width: 100%; height: 190px; max-width: 500px; margin: 10px 0px;\"></iframe>","url":"https://kyorosukeke.hatenablog.com/entry/2026/05/08/115807","version":"1.0","author_url":"https://blog.hatena.ne.jp/kyorosukeke/","title":"\u30d6\u30e9\u30f3\u30c9\u30fb\u30e2\u30fc\u30c8\u306e\u8cde\u5473\u671f\u9650\u2014\u2014CAP\u30d5\u30ec\u30fc\u30e0\u30ef\u30fc\u30af\u3067\u8aad\u3080\u72ec\u9ad8\u7d1a\u8eca\u306e\u4e2d\u56fd\u5e02\u5834\u6557\u9000","categories":[],"height":"190","width":"100%","provider_url":"https://hatena.blog","description":"\u306f\u3058\u3081\u306b \u7af6\u4e89\u512a\u4f4d\u6027\u306b\u306f\u300c\u3069\u308c\u307b\u3069\u5f37\u3044\u304b\u300d\u3068\u3044\u3046\u5f37\u5ea6\u306e\u6b21\u5143\u3068\u3001\u300c\u3069\u308c\u307b\u3069\u9577\u304f\u7d9a\u304f\u304b\u300d\u3068\u3044\u3046\u6642\u9593\u306e\u6b21\u5143\u304c\u3042\u308b\u3002\u5f8c\u8005\u3092\u5b9a\u91cf\u7684\u306b\u6271\u3046\u6982\u5ff5\u304cCAP\uff08Competitive Advantage Period\uff1a\u7af6\u4e89\u512a\u4f4d\u6301\u7d9a\u671f\u9593\uff09\u3060\u3002Mauboussin\u3068Johnson\uff081997\uff09\u304cCS First Boston\u306e\u30ea\u30b5\u30fc\u30c1\u3067\u547d\u540d\u30fb\u4f53\u7cfb\u5316\u3057\u305f\u3053\u306e\u6982\u5ff5\u306f\u3001\u300c\u4f01\u696d\u304c\u8cc7\u672c\u30b3\u30b9\u30c8\u3092\u4e0a\u56de\u308bROIC\u3092\u65b0\u898f\u6295\u8cc7\u306b\u304a\u3044\u3066\u7a3c\u304e\u7d9a\u3051\u3089\u308c\u308b\u671f\u9593\u300d\u3068\u5b9a\u7fa9\u3055\u308c\u308b\u3002CAP\u304c\u9577\u3044\u307b\u3069\u4f01\u696d\u4fa1\u5024\u306f\u9ad8\u304f\u3001CAP\u304c\u4e88\u60f3\u5916\u306b\u77ed\u7e2e\u3055\u308c\u305f\u77ac\u9593\u306b\u682a\u4fa1\u306f\u6025\u843d\u3059\u308b\u3002 2026\u5e74\u521d\u982d\u306b\u958b\u793a\u3055\u308c\u305f\u30c9\u30a4\u30c4\u9ad8\u7d1a\u8eca\u5404\u793e\u306e\u6c7a\u7b97\u3068\u4e2d\u56fd\u5e02\u5834\u306e\u8ca9\u58f2\u30c7\u30fc\u30bf\u306f\u3001\u3053\u306eCAP\u30d5\u30ec\u30fc\u30e0\u2026","type":"rich","blog_url":"https://kyorosukeke.hatenablog.com/","blog_title":"\u3068\u3042\u308b\u6295\u8cc7\u5bb6\u306e\u5b66\u7fd2\u5e33","provider_name":"Hatena Blog","published":"2026-05-08 11:58:07","image_url":null}