アンリツ（6754）
Contents
1.2.
3. SR Sh ared Gear http www sharedresearch jp Copyright C 2012 Shared Resea
4. LTE EMEA
5. 20 2014 3
6. 2 992 4 7 27 2012 3 1 18 Sh ared Gear http www sharedresearch jp Copyright C 2012 Shared Research Inc All Rights Reserved 38 64 a 6754 SR Research Report 2014 7 4 1 617 9 8
7. SR 3G 709 LTE 50 2013 3 Agilent Technologies Rohde amp Schwarz 2G GSM
8. R amp D 2014 3 16 919 17 29 1 208 48 39 2013 3 30 2014 3 35
9. IT Shared esearch http www sharedresearch jp Copyright C 2012 Shared Research Inc All Rights Reserved 6754 SR Research Report 2014 7 4 SR 2012 2014 5 2017
10. ROA ROE 12 3 13 3 14 3 15 3 93 622 94 685 101 853 109 000 1 1 7 6 7 0 49 225 50 969 54 955 3 5 7 8 52 696 53 89 54 0 14 000 15 714 14 123 16 000 12 2 10 1 13 3 15 0 16 6 13 9 14 7 13 094 16 139 14 239 16 000 23 3 11 8 12 4 14 0 17 0 14 0 14 7 7 972 13 888 9 318 11 000 74 2 32 9 18 1 8 5 14 7 9 1 10 1 137 753 143 956 143 956 62 2 98 4 64 9 76 8 56 3 97 0 64 9 15 0 20 0 20 0 24 0 341 4 450 4 522 39 596 37 690 43 215 14 770 16 164 17 053 78 944 79 951 90 010 15 441 17 274 19 747 1 466 1 340 2 023 2 497 2 329 2 164 111 287 115 095 127 149 9 279 8 189 8 451 20 820 2 472 6 898 44 109 25 960 33 796 9 293 16 945 11 960 64 468 5
11. 2005 NetTest A S Anritsu A S 6 4 2014 3 IT
12. Ssh ared Gear http www sharedresearch jp Copyright C 2012 Shared Research Inc All Rights Reserved 6754 SR Research Report 201477 4 Qualcomm ST Ericsson Leadcore a Hisilicon TL Infineon MediaTek etc AT amp T mr CO EMS Werizon 3 2 Electronics T Mobile SGS 7 layers Manufacturing China Unicom etecom TNIL HTC LG RIM China Telecom Canvas M etc Nokia Sony Foxconn Asus NTT DoCoMo Huawei ZTE BYD Fosunny LE k tauch Iongcheer Quanta ET Fujitsu NEC PFanasonic etc rg eA Ericsson Alcatel Lucent Huawei etc SR
13. TD LTE 2014 3 CA CA CA
14. NTT GSM
15. 4 3G LTE Wi Fi 2014 3 LTE Advanced TD LTE 2015 3
16. 1 2 3 9 300 2012 Sh ared esearch http www sharedresearch jp Copyright C 2012 Shared Research Inc All Rights Reserved 6754 SR Research Report 2014 7 4 3 48 59 42 19 609
17. 2013 7 Sh ared esearch http www sharedresearch jp Copyright C 2012 Shared Research Inc All Rights Reserved 6754 SR Research Report 2014 7 4 8 970 0 59 941 46 79 cl Shared Gesearal http Www sharedresearch jp Copyright C 2012 Shared Research Inc All Rights Reserved 6754 SR Research Report 2014 4 15 3 FY03 12 FY03 13 FY03 14 a GLP2014 93 622 94 685 101 853 109 000 110 00
18. 2 857 1 1 15 2012 3 1 30 1 794 5 6 117 84 3 1 DIE IFRS 2012 4 1 IFRS
19. ROA ROE SR 73 548 77 853 12 49 396 30 840 34 819 496 9 0 41 9 44 7 4 583 6 994 406 4 672 8 6 2 9 0 3 578 5 362 2 004 7 3 054 1 4 9 6 9 385 3 069 186 7 0 5 3 9 128 037 128 043 3 0 24 1 2 8 22 1 7 0 295 5 313 1 26 269 27 993 13 469 15 762 67 749 69 673 19 117 17 652 10 812 10 049 3 509 1 872 101 188 99 249 5 296 6 147 11 174 2 239 27 813 20 403 31 100 34 600 63 514 59 342 37 674 39 906 42 274 36 839 7 970 498 386 9 229 1 432 6 049 0 4 1 0 37 2 3 1 7 9 40 2 IFRS 1 EPS EPS DPS BPS
20. EMS IFRS 09 3 10 3 12 3 13 3 14 3 e 37 460 33 490 32 952 36 933 35 293 30 133 31 000 44 6 45 59 42 39 39 4 37 3 29 6 28 4 16 365 13 967 18 946 19 885 22 667 28 858 31 000 19 5 19 0 24 3 21 2 23 9 28 3 28 4 EMEA 14 870 12 462 10 629 12 549 12 615 14 601 16 000 17 7 16 9 13 7 13 4 13 3 14 3 14 7 15 244 13 628 15 324 24 253 24 107 28 260 31 000 18 2 18 5 19 7 25 9 25 5 27 7 28 4 83 940 73 548 77 853 93 622 94 685 101 853 109 000 SR 2013 3 IAS 19
21. J GCA DIC TOKAI
22. 3G 2009 3 6754 SR Research Report 2014 7 4 1931 3 50 1961 4 1961 10 1968 8 1978 5 1985 3
23. 3G LTE LTE 3G 3 5G Agilent Technologies Rohde amp Schwarz SR GSM sh ared hesearch http Www sharedresearch jp Copyright C 2012 Shared Research Inc All Rights Reserved 6754 SR Research Report 2014 7 4 1 3G 3 5G 2 GSM 3G 3 5G
24. SR Inc SR Inc 3 31 12 03 5834 8787 Email info sharedresearch jp
25. EE UU 40G 100G S HH Ln SEE HB SR LTE IT LTE
26. SR SBS KLab
27. 3G LTE 82 mm 82 108 60 23 mm 4GILTE tt yg 3GMV CDMA Exabytes Month 1 CDMA 0 6 F 40G71 00G 2 LTE
28. LTE 2012 3 80 2G 3G 1 2G 3G 3 5G LTE 1 3G LTE
29. TD LTE 8 167 13 1 630 33 49 3 374 8 4 2
30. 20 309 LTE Long Term Evolution LTE 4 3 1 3G LTE IP 2 100Mbp 50Mbp IP 3 3 5G GSM CDMA LTE LTE
31. IFRS 100 000 76 000 77 000 80 000 94 500 94 500 83 940 73 548 77 853 93 586 94 685 101 853 16 19o 3 29o 1 196 17 09o 0 2 7 8 4 500 2 200 3 800 6 200 15 500 15 500 905 4 583 6 994 14 414 15 714 14 123 79 99o 108 39o 84 1 132 59o 1 4 8 9 3 700 1 000 2 500 5 500 14 500 14 500 170 3 578 5 362 13 593 16 139 14 239 95 49o 257 89o 114 59o 147 19o 11 39o 1 89o 1 000 500 1 500 3 800 10 000 10 000 3 540 385 3 069 10 180 13 888 9 318 23 09o 104 6 167 99 o 38 99o 6 89o
32. 3596 159 IP 45 59 20 5 LTE 2011 3 22 4 51 796 8
33. 2014 3 30 179 LTE 28 LTE 28 sSh sfed esearch http www sharedresearch jp Copyright C 2012 Shared Research Inc All Rights Reserved 6754 SR Research Report 2014 7 4 10
34. 1 LTE LTE 2 2 2012 3 SR LTE Rohde amp Schwarz 2011
35. TD LTE 2015 11 885 17 7 802 196 4 5 231 10 6 257 41 3 3 2014 3 3 2014 3
36. 2012 3 14 439 1 7 829 45 4 9 014 1 7 650 146 0 2013 3 2012 3 Sh ared esearch http www sharedresearch jp Copyright C 2012 Shared Research Inc All Rights Reserved 6754 SR Research Report 2014 7 4 2013 3 3 2013 1 31 2013 3 3
37. 8 2009 3 2010 4 Weaknesses
38. Agilent Technologies GLP2014 Sh ared esearch http Www sharedresearch jp Copyright C 2012 Shared Research Inc All Rights Reserved 6754 SR Research Report 2014 7 4 2013 3 70
39. LTE Advanced 2 529 12 30 10 18 8 LTE LTE Advanced LTE LTE Advanced 6 4 VoLTE CA VoLTE Ssh ared Gear http www sharedresearch jp Copyright C 2012 Shared Research Inc All Rights Reserved 6754 SR Research Report 2014 7 4 CA
40. SR Research Report 2014 7 4 12 3 13 3 14 3 15 3 93 622 44 397 49 225 52 6 23 065 9 640 109 2 628 14 000 15 0 112 1 034 8 5 7 972 16 2 94 685 1 1 43 715 50 969 53 8 24 346 10 156 311 1 064 15 714 16 6 1 268 875 74 2 14 7 13 896 74 3 27 3 2013 3 IAS 19 101 853 7 6 46 897 54 955 28 621 12 227 521 505 14 123 10 196 13 996 686 579 10 14 239 11 896 14 096 950 9 196 9 305 33 0 16 9 esearch lp http www sharedresearch jp Copyright C 2012 Shared Research Inc All Rights Reserved 109 000 7 0 6754 SR Research Report 2014 7 4 IFRS 10 3 11 3 12 3 13 3 14 3 EL
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43. 7 12 200 GLP2014 2020 2020VISION 2020VISION 2020VISION
44. 2017 ki i 2010 2015 2020 http Wwww sharedresearch jp Copyright C 2012 Shared Research Inc All Rights Reserved 6754 SR Research Report 2014 7 4 2010 2015 2020 EMS gz
45. LTE 2014 5 LTE Rohde amp Schwarz Agilent Technologies Sh ared esearch http Www sharedresearch jp Copyright C 2012 Shared Research Inc All Rights Reserved 6754 SR Research Report 2014 7 4 Anite Spirent LTE Rohde amp Schwarz Aqgiliet Technologies Litepoint Agilent Technologies LTE Litepoint Rohde amp Schwarz Agilent Technologies LAN 3G LTE LAN Bluetooth
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50. 6 2015 3 E 2015 3 1 100 190 1 2014 3 2 2014 3 4 20 2014 3 2 2013 10 30 2013 3 2
51. 2 20 6 6 1 1 12
52. 2013 3 2014 3 LTE 2015 3 LTE LTE Advanced sh ared hesearch http Www sharedresearch jp Copyright C 2012 Shared Research Inc All Rights Reserved 6754 SR Research Report 2014 7 4 2015 3 1 2 X 3
53. LTE TIP Sh ared esearch http Www sharedresearch jp Copyright C 2012 Shared Research Inc All Rights Reserved 6754 SR Research Report 2014 7 4 cl 5 31 8 7 219 0 2 479 3 684 6 6 59 4 4 1
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55. Agilent Technologies JDS Ixia Rohde and Schwartz Agilent Agilent 2012 30 Agilent 2011 2013 3 2013 Litepoint 2011 Teradyne
56. SR
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58. 44 4 349 3 22 2 3 17 4 1 23 6 2 24 5 70 000 15 000
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61. TD LTE TD LTE 2015 3 Sh ared esearch http Www sharedresearch jp Copyright C 2012 Shared Research Inc All Rights Reserved 6754 SR Research Report 201477 4
62. 2015 3 18 000 1 300 6 8 2015 3 9 500 6 2014 3 2015 3 2014 4 2020 VISION
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72. 18 mm me me mm a 771A rTL2 7 3 9 LTE 3G jm No 3 50 30 40 70 2012 3 30 25 EMEA 15 30 Em
73. Carrier Aggregation CA TD LTE TD LTE 20MHz 10MHz 30MHz VoLTE CA 2015 3 CA TD LTE VoLTE CA VoLTE 2014 3
74. 28 3 20 8 2012 3 2 Tier1 LTE Long Term Evolution 3G LTE LTE 1 LTE 2 3G TD SCDMA
75. SR Inc SR Inc Shared Researcn SR Inc SR Inc SR Inc SR Inc
76. 128 037 128 043 137 753 143 956 143 956 EPS 3 0 24 1 EPS 62 2 98 4 64 9 76 8 EPS 2 8 22 1 EPS 56 3 97 0 64 9 DPS 7 0 DPS 15 0 20 0 20 0 24 0 BPS 295 5 313 1 BPS 341 4 450 4 522 5 SR 2013 3 IAS 19 Shared esearch http www sharedresearch jp Copyright C 2012 Shared Research Inc All Rights Reserved 6754 SR Research Report 2014 7 4 IFRS 10 3 11 3 12 3 13 3 14 3 4 Plg 1 7 970 9 229 16 143 11 771 13 792 2 498 1 432 2 174 5 030 5 312 FCF 1 2 7 472 7 797 13 969 6 741 8 480 386 6 049 2 264 10 035
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80. 3 2013 3 IFRS 09 3 10 3 11 3 12 3 13 3 14 3 15 3 83 940 73 548 77 853 93 622 94 685 101 853 109 000 16 5 12 4 5 9 1 1 7 6 7 0 57 449 48 270 53 462 70 556 71 232 75 962 81 500 21 0 16 0 10 8 1 0 6 6 7 3 68 4 65 6 68 7 75 4 75 2 74 6 74 8 12 980 11 641 12 325 14 200 14 439 16 919 18 000 4 5 10 3 5 9 1 7 17 2 6 4 15 5 15 8 15 8 15 2 15 2 16 6 16 5 13 511 13 636 12 064 8 866 9 014 8 970 9 500 0 9 11 5 1 7 0 5 5 9 16 1 18 5 15 5 9 5 9 5 8 8 8 7 905 4 583 6 994 14 000 15 714 14 123 16 000 83 1 406 4 52 6 12 2 10 1 13 3 1 196 6 2 9 0 15 0 16 6 13 9 14 7 791 2 251 5 050 13 841 14 985 13 011 14 500 119 2 384 6 124 3 8 3 13 2 11 4 4 796 9 490 19 6 21 0 17 1 17 8 596 610 659 570 814 1 208 1 300 26 8 2 3 8 0 42 8 48 4 7 6 4 696 5 290 5 390 4 096 5 690 7 1
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83. 2G 3G 5 LTE 2013 5 sSh sfed esearch http www sharedresearch jp Copyright C 2012 Shared Research Inc All Rights Reserved 6754 SR Research Report 2014 7 4 50 259 25 3 5
84. Agilent Technologies Ssh ared Gcsearch http www sharedresearch jp Copyright C 2012 Shared Research Inc All Rights Reserved 6754 SR Research Report 2014 7 4 Rohde amp Schwarz LTE 3G Verizon Verizon LTE IP LTE LTE Advanced LTE Advanced LTE 1Gbps 100Mbps Signalion LTE Advanced
85. Sh ared esearch http Www sharedresearch jp Copyright C 2012 Shared Research Inc All Rights Reserved 6754 SR Research Report 2014 7 4 LTE LTE 2012 3 70 531 31 99 13 735 172 096 45 2011 3 34 30 36 25 30 LTE LTE
86. 2015 3 2015 3 LTE Advanced TD LTE 2013 7 1 5 2 2014 3
87. 2011 3 3 10 2013 3 4 20 157 2008 3 2 94 685 1 19 15 800 12 9 16 225 23 9 13 942 74 9 700 600 71 232 1 0 1
88. 21 4 3 LTE Long Term Evolution 3G LTE Sh ared esearch http www sharedresearch jp Copyright C 2012 Shared Research Inc All Rights Reserved 6754 SR Research Report 2014 7 4 1 LTE 2 LTE TD SCDMA TD LTE
89. 3G 3 5G GSM NTT 1 3G 3 5G 70 2013 3 3G 3 5G 1 1 3G 3 5G 3G 3 5G
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92. SR LTE 3G 1 3G NTT 3 430 3G 4 LTE 3G 250 SR 3G 3G 2010 LTE Verizon cdma2000 W CDMA Verizon
93. 1 300Mbps IP 2012 2 TD LTE TD LTE 3GPP TD TD LTE LTE FD LTE 2014 SoftBank 4G AXGP TD LTE TD LTE 100 5 LTE 3G TDS CDMA TD LTE
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98. 1 Anritsu Company Anrtsu Instruments COmpany Anritsu EMEA Ltd Sh ared Gear http Www sharedresearch jp Copyright C 2012 Shared Research Inc All Rights Reserved 6754 SR Research Report 2014 7 4 Anritsu S D A Anritsu Solutions S p A Anritsu A S Anritsu Company Ltd Anritsu Electronics Co Ltd LE 7 Anritsu Company Inc Anritsu COrDoration Ltd 2009 3
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104. Agilent Technologies LTE Rohde amp Schwarz 2012 7 Sh ared esearch http www sharedresearch jp Copyright C 2012 Shared Research Inc All Rights Reserved 6754 SR Research Report 2014 7 4 IP EMEA WiFi WiMax
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108. 30 2010 9 2015 CB10 000 2012 6 68 49 3 160 2012 9 28 627 4 5 037 2013 3 2012 3 2012 4 26 2012 3 2010 4 GLP2012 2013 3 1 20 2 93 586 106 1 14 414 305
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119. 1 2196 11 23 6 2012 3 3 1 2 LTE LTE 3G LTE LTE LTE
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126. 3 56 3 2 2014 3 47 19 37 29 2 TD LTE LTE Advanced Sh ared esearch http Wwww sharedresearch jp Copyright C 2012 Shared Research Inc All Rights Reserved 6754 SR Research Report 2014 7 4 2014 3 1 2013 7 31 2014 3 1
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134. l Rights Reserved 6754 SR Research Report 2014 7 4 w 14 42 7 45 Nomura Bank Luxembourg S A S A Nomura Multi Currency Japan Stock Leaders Fund MM State Street Bank and Trust Company 3 80 2 99 Northern Trust Co AVFC Re 15PCT Treaty Account 2 95 JP Morgan Chase Bank 385078 2 61 JP Morgan Chase Bank 380072 2 53 2 45 The Chase Manhattan Bank N A London Secs Lending 2 20 Omnibus Account SR 2014 3 sf DOE Dividend On Equity 25
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