ベルパーク (9441)
Contents
1.2. 1 SR 1 2
3. TITX 1 6752 1 6758 1 9422
4. s Shared Research http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 9441 SR Research Report 2014 2 12
5. 7 69 208 2 744 2012 12
6. SR Inc SR Tnc Shared Research SR Inc
7. ARPU ARPU
8. TOKA
9. GCA
10. USIM ARPU 1 499 2012 12 1 239 2012 12 4 1 4 ARPU 4 ARPU
11. s Shared Research http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 9441 SR Research Report 2014 2 12 2010 1 iPhone SR
12. 2 744 2012 12 208 2012 12 7 6 886 883 2012 12 2012 3 4 2013 3 3 12 726 7 0
13. 1496 2007 12 2012 12 10 2007 12 2012 12 esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9441 SR Research Report 2014 2 12 1000000 400 900 000 a 800 000 i 2o0 000 sm 600 000 250 500 000 a 200 400 000 1 150 300 000 F100 200 000 100 000 759 0 000 S V S 6 SG OO SS NN A AS SN SSSS SS SR 2013 12
14. 2012 12 2 744 1 9435 TITX 1 9831
15. USIM ARPU 3 319 2012 12 3 359 2013 4 ARPU ARPU Shared Wesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved
16. 104 2012 12 1995 1990 1995 200 1997 2 700 f 160 000 140 000
17. SR Inc SR Inc SR Inc SR Inc
18. SR
19. 2012 4 2012 12 76 000 3 150 3 000 3 170 2 980 1 760 1 660 3 2011 7 2011 7 29 2011 12 1956
20. FC 226 2012 12 208 14 Apple 4 1 5 000 FC Shared esearch http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved Shared 9441 SR Research Report 2014 2 12 FC
21. s Shared Research http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 9441 SR Research Report 2014 2 12 M amp A 3 2005 12 74 29 2012 12 81 89 2005 POS
22. KDDI KDD1 au 2012 11 2012 11 29 2012 11 29 2012 12 31 2012 12 28 2013 1 1 1 100 67 6 710 2013 1 1
23. M amp A M amp A KDD1 KDDI 2013 2 KDD1 6 au CS
24. POS 2005 12 20 2008 12 3 8 2009 12 2011 12 18 4 M amp A
25. 50 10 26 12 22 74 20 81 4 54 Wel 3 55 1 07 0 95 0 87 2 0 63 0 52 SR 2012 12 31
26. 2008 6 50 JASDAQ2426 I Shared Yesearch http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved e 9441 SR Research Report 2014 2 12 2009 6 1 520 52 22 30 FC 2009 12 Apple Authorized Premium Reseller 2010 1 2010 12
27. 1 1 2012 12 2013 12 84 800 82 800 2 860 2 600 2 920 2 580 1 600 1 410 2 3 4 3 4
28. 2009 12 3 576 2 2 2011 12 0 2 3 Shared Research http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 9441 SR Research Report 2014 2 12 ARPU 1 33 3 2011 12 15 79 2013 12 2012 12 3
29. 59 1 2012 12 66 79 1 2013 1 3 50 6 MN P 84 227 13 1 19 6 0 9 18 7 16 494 23 1 13 254 3 8 3 240 7 0 3 426 5 3 1 878 s Shared 6Qesearch http www sharedresearch jp Copyright
30. 2012 12 M amp A M amp A Shared Yesearch http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved e 9441 SR Research Report 2014 2 12 2013 12 3 2013 10 30 2013 12 3 2013 12 3 379 578 4 5 305 334 28 0 684 912 13 8
31. 1 3 SR 1 2 3 M amp A esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9441 SR Research Report 2014 2 12
32. 2013 12 s Shared GYesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved Shared Gcscarch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9441 SR Research Report 2014 2 12 FC 226 2012 12 208 154 FC54 14 11 FC3 Apple 4 M
33. 15 9 6 351 18 1 2 009 USIM ARPU 2 43 2012 12 2 27 2013 12 1
34. 2012 12 1 143 263 46 3 85 975 28 09 229 238 38 9 45 335 IiPad 15 662 9 850 ULTRA SPEED 13 621 2012 12 1 2 2 6 2012 3 2 702 146 52 198 19 5
35. 2 ARPU ARPU ARPU 14 9 2007 12 2012 12 569 2007 12 2012 12
36. 2011 12 2 677 145 52 197 206 2011 12 11 FC2 1 M amp A 1 5 2010 12 2011 2 14 2010 12 2010 12 56 000 19 4 s Shared Research http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 9441 SR Research Report 2014 2 12 60 168 28 3 2 800 21 79 2 905 18 8 2 800 21 196
37. FC FC 2009 12 M amp A 33 FC Apple 200 150 100 K SR iPhone
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41. 2013 12 6 2013 11 3 amp sShared 6Qesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved e 9441 SR Research Report 2014 2 12 1 2 3 6 7 12 2014 37 239 37 239 16 4 LowARPU 28 193 28 193 24 9 34050 34 050 8 8 71 289 71 289 12 9 3 44 561 39 123 80207 42 188 44188 29921 31 772 33 596 34022 37 766 39479 36492 493 315 15 8 29 20 1 0 3 44 09 10 9 74 114 189 199 11 7 LowARPU 22 566 19882 40417 23 187 24066 19059 21 191 24508 22890 22919 25087 26 119 291 891 230 325 222 275 234 57 127 184 44 74 58 189 3 37 325 25865 46305 33039 40335 26499 29059 30075 36832 46 110 49021 40 749 441 214 90 95 648 374 635 319 84 253 116 125 16 1 108 81 886 64 988 126 512 75 227 84 523 56 420 60 831 63 671 70 854 83 876 88 500 77 241 934 529
42. 2011 2 2013 2 KDDI s Shared 6Qesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 9441 SR Research Report 2014 2 12 amp 2013 4 2013 4 26 2013 12 2 2013 12 2013 12 2 40 100 38 100 1 680 1 280 1 750 1 270 960 690 2 1 2
43. 2013 12 2 2013 12 2 s Shared Research http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 9441 SR Research Report 2014 2 12 2013 12 1 2013 4 26 2013 12 1 2013 12 2 163 891 14 4 109 495 27 4 273 386 19 3 MNP
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48. SR Tnc SR Inc http www sharedresearch jp Email info sharedresearch jp 3 31 12 03 5834 8787 Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w
49. Shared esear ch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9441 SR Research Report 2014 2 12 1993 1 2 1996 FC 1 1998 9
50. B 5 120 000 5 000 F 10 200 000 10 000 BB 5 2017 12 5 000 1 M amp A 2 3 CS M amp A KDD1 2013 2 2012 12 2 M amp A M amp A 1 http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9441 SR Research Report 2014 2 12 2
51. SR ARPU ARPU ARPU ARPU ARPU s Shared GYesearch http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved Shared 9441 SR Research Report 2014 2 12 9 000 ARPU Me A ARPU Y8 000 90 5000 ARPU ARPU 7 000 80 i 6 000 60 5 000 3 000 4 000 8 40 2000 3 000 2 000 1 000 209 1 000 0 RENEE RRR EIEN ES NE WS WO MK Y SR 2006 ARPU 2006
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53. N A 67 114 2012 12 1 133 2012 12 N A 2013 3 UFJ 651 30 0 4 762 2012 12 lt Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 9441 SR Research Report 2014 2 12 SR
54. SR M amp A NTT KDDI 3 90 s Shared Research http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 9441 SR Research Report 2014 2 12 3 10 NTT
55. 1993 2G 1G 2001 3G 2009 3 9G 2010 1 1 MNP
56. http Www sharedresearch jp 2 Copyright C 2013 Shared Research Inc All Rights Reserved 9441 SR Research Report 2014 2 12 2007 12 2008 12 2 860 2012 12 425 2008 12 2008 12 1 600 1 09 12 10 12 11 12 12 12 13 12 61 688 67 015 66 727 66 094 66 094 EPS 33 173 24 766 22 326 26 984 26 984
57. 280 188 8 7 209 368 35 3 489 556 18 6 2013 12 2 7 4 6 2013 6 2 698 160 54 214 41 545 s Shared Research http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 9441 SR Research Report 2014 2 12 18 59 8 360 16 49
58. SR 2011 12 2012 2 14 2011 12 2011 12 397 999 11 39 s Shared Research http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 9441 SR Research Report 2014 2 12 354 335 30 0 752 334 19 4 67 112 39 70 1 165 095 2 162 170 3 161 550 4 263 519 iPhone4S 2011 10 3 4
59. 2013 12 3 8 6 7 2012 9 2 667 161 54 215 19 2 60 399 19 19 12 207 RNN 20 7 9 656 13 79 2 551
60. ARPU M amp A 2006 Weaknesses
61. 2014 12 eSsearch http Www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved lt Shared Yesearch http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved e 9441 SR Research Report 2014 2 12 2014 2 12 2013 12 2013 12 2014 2 6 2014 1 HP 2014 1 9 2013 12 2014 1 8 0 C amp O C 0 C
62. 2012 12 1 2 600 3 000 s Shared Research http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 9441 SR Research Report 2014 2 12 2012 12 2 2012 7 31 2012 12 2 2012 12 2 257 866 33 1 154 782 15 9 412 648 26 1 64 179 IiPad 12 431 17 514 22 033 1
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65. 9441 SR Research Report 2014 2 12 2013 150 3 2013 12 80 SR 102 15 0 SR KDD1 2013 9 29 25 Apple Inc AAPL
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72. 2009 12 2 046 2007 12 2009 12 2005 12 498 183 100 2009 12 815 2001 12 2008 12 2001 12 449 2000 M amp A 2001
73. CA 779 CA 21 496 SA 37 9 JA 40 19 CA 21 49 2012 12 SR CA 2012 12
74. IDO 1990 NCC NCC 1994 1990 M amp A 1999 DDI 2000 IDO KDDI 2001 2003 2006 3
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78. 1999 1999 9 2000 12 400 49 M amp A 2000 5 JASDAQ 2000 12 2003 12 Vodafone 2006 2007 FC FC 2006 12 62 2007 12 105 709
79. 2010 2 10 2009 12 46 890 44 6 3 576 153 7 3 550 154 5 2 046 82 3 52 M amp A 65 60 iPhone PhotoVision 462 282 40 19 s Shared Research http www sharedresea
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88. OC 22 O C 845 2014 2 10 2014 12 2014 2 12 2013 12 27 2013 12 24 1 9435 27 999 1 9441 SR Research Report 2014 2 12
89. 2012 10 31 2012 12 3 2012 12 3 363 230 27 8 238 608 16 6 601 838 23 1 TiPad ARPU 21 9 14 3 9 10 2012 9 43 7 2012 12 3 6
90. 51 467 2004 12 09 12 10 12 11 12 12 12 13 12 P 30 000 56 000 72 000 76 000 82 800 46 890 60 168 70 573 74 469 84 228 56 3 7 4 2 0 2 0 1 7 1 040 2 800 3 300 3 000 2 600 3 576 2 905 2 850 3 122 3 240 243 8 3 8 13 6 4 1 24 6 1 000 2 800 3 250 2 980 2 580 3 550 2 894 2 781 3 201 3 426 255 0 3 4 14 4 7 4 32 8 510 1 500 1 800 1 660 1 410 2 046 1 660 1 490 1 783 1 879 301 3 10 6 17 2 7 4 33 2 SR
91. 2 1 100 QUO 1 000 gt SadQeweami http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9441 SR Research Report 2014 2 12 2013 12 IR 2 IR http www bellpark co jp ir Shared Wesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w es 9441 SR Research Report 2014 2 12 102 0093 1 4 12 03 3288 5211 JASDAQ 1993 2 2 2000 5 25 HP http www bellpark co jp 12 IR TIR http www bellpark co p ir IR IR ir 9441 bellpark co jp 03 3288 5211
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100. 8 432 1 618 B 815 204 379 348 546 FCF A B 1 875 651 1 800 85 1 072 932 487 675 391 1 124 A 211 221 245 253 286 B 112 196 231 143 367 C 998 247 246 1 833 912 FCF A B C 1 147 1 437 1 258 60 886 SR 2001 12 2005 12 227 2007 12 1 509 2008 12 1 180
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