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1. 200 300 2016 3 200 2011 2 16 SR
2. MAUUIE 2007 2008 2009 2010 2011 2012 1 150 1 010 910 830 820 760 750 1 0 9 9 8 8 1 2 7 3 1 3 3 440 2 510 2 350 2 210 1 780 1 690 1 450 00 6 4 6 0 19 5 5 1 142 4 510 4 270 4 210 3 850 3 790 3 852 3 912 2 1 1 4 8 6 1 6 1 6 1 6 5 150 4 310 4 430 5 000 4 680 3 910 3 650 0 5 28 12 9 6 4 165 6 6 5 460 6 780 5
3. sShared 6Qesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 4680 SR Research Report 2014 679 SR 10 5 10
4. s Shared 6Qesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 4680 SR Research Report 2014 679 128
5. 10 sShared 6Qesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 4680 SR Research Report 2014 6 9
6. JASDAQ2157 2012 9 2 16 2 I T T BOWL 40 2014 3 2014 3
7. 2014 3 2013 70 1 100 750 9 2 5 350 4 800 550 7 100 1 1 1 450 2 Brunswick AMF Bowling 400 50
8. Weaknesses 2011 3
9. 4680 SR Research Report 2014 6 9 2014 1 2014 1 27 2013 8 2013 8 29 2009 3
10. SR Inc SR Tnc Shared Researcn SR Inc SR Inc SR Inc
11. a gt SadQeweami http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved Shared 4680 SR Research Report 2014 679 2009 3 1 3 2011 3 4 120 100 80 7 46 gt 3 60 40 20 08 3 09 3 10 3 11 3 12 3 13 3
12. 2013 11 2013 10 2013 11 2014 4 79 2014 4 982 10
13. 2013 8 2 1998 8 2013 7 2013 7 31
14. 2015 3 1 2010 8 1 600 630 150 2 2 2012 9 2 1
15. s Shared Research http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 4680 SR Research Report 2014 6 9 1 6 1 600 300 10 000 30 2007 3 15
16. 2013 11 1 5 4 1 1 150 10 1 98 4
17. 8 2 11 3 5 3 10 79 0 9 3 7 10 2 0 2 4 3 UFO 80 SR
18. 2009 3 2010 3 2011 3 2012 3 2013 3 2014 3 0 9 3 4 2 4 7 5 10 2 5 8 SR 4680 SR Research Report 2014 6 9 SR SR 2014 3 3 2 gt Shared csearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 4680 SR Research Report 2014 679
19. 2011 3 14 1 107 6 13 sShared 6Qesearch
20. 2013 11 909
21. 4 000 900
22. s Shared Research http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 4680 SR Research Report 2014 6 9 1 2 2015 3 8 1980
23. 2010 3 177 2011 3 2012 3 2013 3 397 s Shared 6Qesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 4680 SR Research Report 2014 6 9 10 3 11 3
24. 3 3 308 33 400 21 000 2014 3 86 000 86 000 11 600 11 600 8 400 8 400 16 000 7 500 3 10 12 11 29 3 10 12 10 59 2 59 4 7
25. 700 lt 800 10 7 000 5 000
26. 2010 3 2014 3 w es a T FF sShared Wesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 8 4680 SR Research Report 2014 679 1960
27. 2014 3 32 396 40 2009 3 2010 3 2011 3 2012 3 2013 3 2014 3 0 5 8 7 0 5 4 5 8 4 8 4 9 9 8 8 1 2 7 3 1 3
28. 2012 3 2012 3 30 2012 3 27 2012 2 2012 2 9 2012 3 3 2011 11 2011 11 29
29. DIC KLab TOKAIU
30. GCA SBS
31. sShared 6Qesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 4680 SR Research Report 2014 6 9 20 50 10 20 50 30 40 309 209
32. SR Inc SR Tnc SR Inc http www sharedresearch jp Email info sharedresearch jp 3 31 12 03 5834 8787 Shared GYesearch http Www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved
33. 2015 3 8 2015 3 8 4 5 900 42 000 1 200 64 000 1 800 5 8km 15 10 16km 40 50 50 14 1 400 56 259 169 6 3 600 6 2 3 2 2
34. CEO IR 072 224 5115 IR 2 IR gt SadQeweami http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 4680 SR Research Report 2014 6 9 072 224 5115 1980 12 25 HP http www round1 co jp index html IR TIR 590 0985 4 45 1
35. JASDAQ4712 1 2681
36. 5 1 20 2014 3 1 20 1 20 Re Shar ed esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 4680 SR Research Report 2014 6 9 10 3 11 3 12 3 13 3 22 175 22 418 32 852 26 418 20 456 35 616 23 563 24 036 4 371 46 611 FCF 13 441 1 145 56 888 30 789 67 067 24 881 4 551 45 981 34 564 66 200 A 6 065 20 351 6 144 1 264 23 725 B 14 358 18 824 19 702 18 960 15 928 D 134 226 196 174 82 E 2 603 2 488
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38. 1 400 2016 3 2004 2010 2014 1 2013 11 29 2014 1 0 6 3 12 13 3 13 29 2013 11 20
39. 2 2013 3 56 19 21 8 16 79 5 496 1 000 6 20
40. 30 40 SR 1 6460 1 7832 1 9684 1 9766
41. 880 7 9 2014 3 11 600 5 418 86 000 x 7 x 90 2013 11 4 6 4 2014 5 6 7 9
42. 200 300 2016 3 200 2010 6 2010 6 2 s Shared Research http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 4680 SR Research Report 2014 6 9 16 Deutsche Bank AG London branch 14 2 2010 6 2 6 4 6 2
43. 2 3 3 980 2014 3 12 2015 3 1 100 10 15
44. 2011 2 10 2011 2 2011 2 10 2011 3 3 2011 2 10 2 2011 3 7 20 2010 11 2010 11 10 2011 3 2 2010 11 5 10 2011 3 2 41 556 42 900 5 499 6 800 3 114
45. 1993 3 I 1980 12 1993 3 CEO I 1997 8 1998 12 1999 9 amp 2014 3 2014 3 25 2008 3
46. 2013 11 2013 10 2013 11 2014 3 84 272 1 9 10 088 12 89 7 818 4 9 19 681 601 2015 3 85 500 1 59 10 000 0 9 9 000 15 1 5 000 19 681 2016 3 2016 3 2014 3 10 000
47. 880 s Shared 6Qesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 4680 SR Research Report 2014 6 9 2014 3 3 2014 2 10 2014 3 3 3 10 12 18 715 1 9 168 72 5 278 26 3 681 703 3 60 586 2 8 5 076 22 8 3 334 13 19 14 421 1 316
48. Shared jesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 4680 SR Research Report 2014 6 9 13 3 14 3 14 3 1Q Me kie te 1Q 2Q kie 4Q 20 741 22 532 19 071 23 559 20 165 21 706 18 715 23 686 98 0 86 000 6 7 52 57 09 28 37 19 0 5 0 1 2 628 4 168 1 066 5 466 2 665 3 051 632 5 375 44 0 24 6 573 78 1 4 26 8 407 17 12 7 18 5 5 6 23 2 13 2 14 1 3 4 22 7 423 408 457 474 409 398 465 362 8 5 6 2 32 39 3 3 25 1 8 23 6 20 1 8 2 4 20 2 0 18 2 5 1 5 2 204 3 760 610 4991 2 256 2 652 168 5 012 87 0 11 600 48 8 26 1 699 82 24 295 725 04 03 10 6 16 7 3 2 21 2 11 2 12 2 09 21 2 13 5 1 007 2 804 26 4 380 1 642 1 970 278 4 484 93 1 8 400 68 3 25 7 974 24 4 63 1 29 7 2 4 2 2 49 12 4 0 1 18 6 8 1 9 1 18 9 9 8 439 1 580 703 715 631 11 371 3 681 5 260 16 000 759 1594 4
49. SR e Shar ed Gesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved Shared csearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 4680 SR Research Report 2014 679
50. Shared Yesearch http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved e s Shared Research http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 4680 SR Research Report 2014 6 9 2011 11 10 2012 3 2 2012 3 2011 8 2011 8 24 2012 2011 8 24 1 8953 24
51. s Shared 6Qesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 4680 SR Research Report 2014 6 9 RE 4 6 7 360 360 360 340 340 340 60 60 60 440 440 440 1 200 1 200 1 200 36 36 4 150 77 79 17 10 11 77 18 19 203 123 94 10 0 10 0 1 1 44 1 22 6 23 2 28 3 16 7 18 3 17 5 4 1 4 3 16 9 10 3 7 8 SR 3 4 3
52. 12 13 3 4 3 4 3 6 6 7 4 7 2020 3 2014 3 1 2013 8 7 2014 3 1 20 165 2 8 2 256 2 4
53. 3 500 2014 4 1 79 980 982 CM 80 TV LINE LINE 1 500 T V 48 20
54. Shared leSearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 4680 SR Research Report 2014 6 9 10 3 11 3 12 3 13 3 14 3 91 000 86 000 88 000 90 000 86 000 82 113 84 303 89 568 85 903 84 272 9 8 2 0 1 8 4 6 2 0 16 500 14 000 12 500 14 100 11 600 12 031 11 416 16 036 11 565 10 088 27 1 18 5 28 3 18 0 13 0 13 000 9 000 80 000 10 000 8 400 7 848 6 929 11 481 8 217 7 818 39 6 23 0 85 6 17 8 6 9 6 300 2 500 3 300 1 000 7 500 3 396 12 673 2 781 601 19 681 46 1 15 7 39 9 SR http www sharedresearch jp Copyright C 2013
55. 484 2 2 9 1 4 9 21 274 1 700 2013 10 2 2014 3 20 2014 3 11 400
56. 1 2013 3 111 2012 12 110 5 1 7 8 4 8 9 19 4 1 0 1 6 6 4 4 4 AKB48
57. 2014 3 114 66 45 3 1995 3 2005 3 2008 3 2009 3 1 6 2 2006 3 2010 3 10 2011 3 4 2012 3 1 2013 3 4 2014 3 1 10 3 11 3 12 3 13 3 14 3 11 4 1 4 1 0 0 0 1 0 105 109 110 113 114 69 69 63 58 21 36 40 47 55 93
58. 4 600 7 387 2013 3 90 224 2012 3 110 914 20 690 2013 3 64 900 2012 3 81 427 16 527 2014 3 sShared 6Qesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved amp w s Shared Research http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 4680 SR Research Report 2014 6 9 2012 3 2012 5 11 2012 3 6 2 89 568
59. 2012 7 2 1 800 25 500 532 2 7 8 8 5 8 8 1 8 3 3 s Shared Research http
60. 2014 2015 2015 2015 2014 2014 2014 3 0 4 3 2 9 1 7 0 1 8
61. 12 109 s Shared Research http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 4680 SR Research Report 2014 6 9 209 159 1 100 480 580 1 180
62. 2011 3 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 4680 SR Research Report 2014 6 9 1980 12 CEO
63. 526 569 7 569 512 1 8 194 3 200 2010 5 2010 5 14 2010 4 2010 4 1 3 1 4 2010 3 2010 3 25
64. 2015 2015 2015 2015 9 2015 10 2015 11 2015 12 2015 _ 3 4 2016 2014 5 2014 2 2015 4 2014 4
65. SR 2009 3 2013 3 9 1 SN N SN wt 3 gt NE RE EE HH Hd SR Shared 4680 SR Research Report 2014 6 9 2014 3 41 5
66. 1 7 1 ONE PIECE 2 4 5 0 4 3 19 1 19 24 09 15 7 7 5 7 5 2011 9 2012 3 110 109 1 2011 3 x 1 314 2011 3 1 275 39 799
67. 800 2 200 1 596 79 s Shared Research http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 4680 SR Research Report 2014 6 9 2014 3 1
68. SR 3 SW Strengths Weaknesses 4680 SR Research Report 2014 6 9 10 3 11 3 12 3 13 3 14 3 15 3 30 787 31 000 32 400 29 700 27 200 26 400 33 405 35 224 36 400 34 500 34 900 36 500 6 037 6 715 8 200 8 300 8 400 8 800 8 963 8 748 9 400 10 300 10 900 11 000 2 918 2 613 3 000 2 900 2 700 2 700 82 113 84 303 89 568 85 903 84 272 85 500 5 3 2 7 6 2 4 1 1 9 1 5 13 810 13 273 17 789 13 328 11 723 11 600 10 1 3 9 34 0 25 1 12 0 1 0 16 8 15 7 19 9 15 5 13 9 13 6 12 031 11 416 16 036 11 565 10 088 10 000
69. 2014 4 10 2014 3 3 amp lt Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 4680 SR Research Report 2014 6 9 5 0 19 111 10 11 12 1 2 6 408 7 024 2 001 2 064 2 686 3 070 641 711 878 956 199 221 3 3 0 1 13 2 14 7 3 4 11 1 1 6 6 5 1 8 4 2 12 2 9 6 3 3 0 1 13 2 14 7 3 4 11 1 1 6 6 5 1 8 4 2 6 625 7 015 6 291 6 168 8 597 6 611 5 586 5 522 7 284 8 596 6 146 8 548 2 306 2 420 2 122 1 922 2 713 2 110 1 795 1 727 2 237 2 708 1 965 2 908 2 598 2 763 2 571 2
70. 12 980 1 280 239 15 1 10 2 1 100 200 100 4680 SR Research Report 2014 6 9 680 1 180 SR 10 5 10
71. 21 451 3 173 1 796 1 100 500 190 250 12 673 1 173 27 280 26 500 363 2010 3 2010 5 14 2010 3
72. 6 39 3 8 2013 10 8 59 10 7 2013 10 2 11 8 20 11 7 980 8 1 180 280 10
73. 1 1997 8 28 3 IR http www round1 co D company ir index html IR 072 224 5115 lt Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 4680 SR Research Report 2014 6 9 SR
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75. 80 2 10 12 2011 8 8 2012 3 1 2011 5 2011 5 11 2011 3 4 2011 4 2011 4 14 2011 4 18 4680 SR Research Report 2014 6 9 2011 3 2011 3 29
76. 2015 3 2013 11 2014 3 5 000 7 9 9 9 3 19 6 2 0 5 3 0 2 3 1 3 x IJ s Shared GYesearch http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 4680 SR Research Report 2014 6 9 Z
77. 6 7 6 7 7 8 4 7 8 10 09 7 1 19
78. 2 1 150 2 3 1 6 7 4 5 6 7 8 9 2014 3 10 11 12 2016 3 10 30 40 2014 4 2014 40 800 2 200
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80. 4680 SR Research Report 2014 679 2009 3 2010 3 2011 3 2012 3 2013 3 2014 3 4 4 6 2 10 4 22 0 0 4 1 2 1 4 8 6 1 6 1 6 1 6 SR 2009 3 SR 2014 3 13 0
81. 5 2 2015 3 121 85 500 1 5 2014 4 1 7 3 4 2 7 9 4680 SR Research Report 2014 6 9 9 000 15 19 16 6
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83. 2013 3 10 57 069 20 84 12 249 33 089 w es e 1 sShared Wesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 8 4680 9 MELLON BANK TREATY CLIENTS OMNIBUS CBNY DFA INTL SMALL CAP VALUE PORTFOLIO BARCLAYS CAPITAL SECURITIES LIMITED BBH BOSTON CUSTODIAN FOR GMO INTL INTRINSIC VALUE FUND SR IR SR Research Report 10 ui 20 84 12 24 8 08 5 36 2 52 1 97 1 92 1 85 1 22 1 06 57 06 2014 679
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86. 2014 4 2015 2014 2 2014 2 12 s Shared Research http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 4680 SR Research Report 2014 6 9 210 334 3 2014 1 2014 2 18 2014
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88. SR 2002 3 2003 3 2002 SPC SPC 2007 3 SPC SPC 2013 3 55 2011 3 Round One Entertainment Inc esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 4680 SR Resear
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92. 10 2 2 2011 3 28 9 3 2 2011 3 14 3 11 2011 3 14
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94. 2009 3 2010 3 2011 3 2012 3 2013 3 2014 3 3 0 3 7 4 9 3 1 5 6 1 2 12 2 13 4 7 6 2 1 1 3 SR 2009 3 2013 3 SR 2014 3 10 0 esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved SadQeweami http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved
95. SR 2014 3 2014 3 36 800 11 600 2015 3 2016 3 1 2015 3 5 600 20 1 3 30
96. 23 8 12 8 3 2 6 7 1 35 6 3 5 2014 3 2015 3 3 3 2014 3 2015 3 800 400 29 290 5 000 19 681 2015 3 28 000 2014
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98. 36 814 2010 3 108 072 138 980 2014 3 11 642 2014 3 21 183 57 531 19 681 1 905 1 10 3 11 3 12 3 13 3 14 3 79 453 95 453 95 453 95 453 95 453 163 166 168 170 175 1 46 8 136 8 29 2 6 3 206 6 1 2 _ _ _ 1 1 080 0 829 4 838 4 826 1 603 8 1 20 0 20 0 20 0 20 0 20 0 1 1 1 1 1 1 46 8 136 8 29 2 6 3 206 6 1 1 080 0 829 4 838 4 826 1 603 8 1 20 0 20 0 20 0 20 0 20 0 SR
99. SR 40 5 16 036 5 710 amp 5 030 2 781 2011 3 12 673 2012 3 7 amp 400 600 500 2011 3 136 159 22 773 113 386 2012 3
100. 12 3 13 3 14 3 15 3 82 113 84 303 89 568 85 903 84 272 85 500 68 302 71 030 71 779 72 575 72 549 73 900 13 810 13 273 17 789 13 328 11 723 11 600 1 779 1 856 1 753 1 762 1 634 1 600 12 031 11 416 16 036 11 565 10 088 10 000 357 511 296 388 315 4 540 4 999 4 850 3 736 2 585 7 848 6 929 11 481 8 217 7 818 9 000 40 0 373 434 2 515 1 822 27 280 5 710 7 387 34 059 6 065 20 351 6 144 1 264 23 725 7 800 2 668 7 677 3 362 663 4 044 2 800 3 396 12 673 2 781 601 19 681 5 000 16 8 15 7 19 9 15 5 13 9 13 6 14 7 13 5 17 9 13 5 12 0 11 7 9 6 8 2 12 8 9 6 9 3 10 5 4 1 15 0 3 1 0 7 23 4 5 8 2 2 2 2 2 0 2 1 1 9 1 9 5 3 2 7 6 2 4 1 1 9 1 5 11 6 5 1 40 5 27 9 12 8 0 9 19 9 11 7 65 7 28 4 4 9 15 1 14 6 78 4 SR
101. 4 6 SR w es a T FF sShared Wesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved J 4680 SR Research Report 2014 6 9 10 000 2015 3 2014 2014 2015 2015 2014 2014
102. 110 914 29 487 81 427 2012 3 96 900 Shared Yesearch http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved e 4680 SR Research Report 2014 6 9 2011 3 2011 5 11 2011 3 2 7 84 303 2010 3 11 2011 3 4 5 1 11 416 2 2 11 7 6 929 12 673 27 280
103. 4 2010 3 25 3 390 435 79 452 914 4 20 925 2010 3 10 4 530 9 2010 3 25 SR 4 3 4 79 5 4680 SR Research Report 2014 6 9 2010 2 2010 2 10 3 1961 CEO
104. 11 x 37 http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 4680 SR Research Report 2014 6 9 8 69 10 5 1 3 1 7 1 3 1 8 5 7 5 1 98 09 87 09
105. 3 Pujg 30 787 31 000 32 400 29 700 27 200 26 400 33 405 35 224 36 400 34 500 34 900 36 500 6 037 6 715 8 200 8 300 8 400 8 800 8 963 8 748 9 400 10 300 10 900 11 000 2 918 2 613 3 000 2 900 2 700 2 700 82 113 84 303 89 568 85 903 84 272 85 500 12 031 11 416 16 036 11 565 10 088 10 000 7 848 6 929 11 481 8 217 7 818 9 000 3 396 12 673 2 781 601 19 681 5 000 8 7 0 7 4 5 8 3 8 4 2 9 3 7 5 4 3 3 5 2 1 2 4 6 6 2 11 2 22 1 1 2 1 2 4 8 3 4 2 4 7 5 9 6 5 8 0 9 18 3 10 5 14 8 3 3 6 9 0 0 5 3 2 7 6 2 4 1 1 9 1 5 11 6 5 1 40 5 27 9 12 8 0 9 19 9 11 7 65 7 28 4 4 9 15 1 14 6 78 4 37 5 36 8 36 2 34 6 32 3 30 9 40 7 41 8 40 6 40 2 41 4 42 7 7 4 8 0 9 2 9 7 10 0 10 3 10 9 10 4 10 5 12 0 12 9 12 9 3 6 3 1 3 3 3 4 3 2 3 2 100 100 100 100 100 100 14 7 13 5 17 9 13 5 12 0 11 7 9 6 8 2 12 8 9 6
106. 3 36 800 600 11 600 2015 3 2010 2016 3 1 1 20 2014 3 1 20 sShared 6Qesearch http www sharedresearchjp Copyright C 2013 Shared Research Inc All Rights Reserved I w 4680 SR Research Report 2014 6 9 2010 8 5 2016 3
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108. sShared Search lt SR Research Report 2014 6 9 4680 sr_inquiries Gsharedresearch jp 4680 SR Research Report 2014 6 9 3 i 4 NC 5 5 0 6 7 2015 3 SiR R
109. 11 6 14 7 9 000 8 19 10 8 7 800 19 69 9 69 4 100 3 1 4 9 3 400 15 4 4 196 2010 3 2010 3 2010 2 2010 5 2011 3 SR 2011 3 SR 2010 3 2010 3
110. 252 106 189 36 289 15 007 51 485 99 870 21 722 121 592 173 078 79 950 922 79 028 79 028 252 106 1 572 136 159 113 386 5 0 15 4 0 3 52 7 6 9 45 0 72 2 31 3 143 5 29 487 557 1 422 3 764 35 230 179 317 209 13 479 193 005 228 236 211 19 621 15 857 35 689 91 293 21 370 112 663 148 353 80 825 943 79 882 79 882 228 236 1 768 110 914 81 427 1 2 3 5 0 4 50 5 7 2 84 2 98 7 35 0 101 9 25 324 605 1 185 4 143 31 257 160 065 177 14 717 174 960 206 217 196 31 147 16 003 47 346 59 077 21 080 80 157 127 503 79 519 805 78 714 78 714 206 217 1 594 90 224 64 900 0 3 0 8 0 4 61 2 6 0 54 8 66 0 38 2 82 5 leSearch http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 25 172 648 1 121 4 099 31 040 72 919 143 23 033 96 097 127 138 257 8 789 15 460 24 506 28 025 17 074 45 099 69 606 57 443 88 57 531 57 531 127 138 1 512 36 814 11 642 11 8 28 9 0 7 64 7 5 6 105 4 126 7 45 3 20 2 4680 SR Research Report 2014 6 9 2014 3 2010 3 138 887 2014 3
111. 105 108 109 111 111 62 65 66 66 66 55 57 58 57 57 7 8 8 9 9 43 43 43 45 45 43 43 43 44 44 1 1 2 3 1 1 2 3 1 1 2 3 SR http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 4680 SR Research Report 2014 679 SR 14 70 809 3 203 4 6 123 7 94 16 99 10 39 7 89 6
112. 3 10 4 0 9 238 47 235 43 84 200 70 1 2 2014 3 365 6 10 7 8 18
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115. 11 6 5 1 40 5 27 9 12 8 0 9 14 7 13 5 17 9 13 5 12 0 11 7 7 848 6 929 11 481 8 217 7 818 9 000 19 9 11 7 65 7 28 4 4 9 15 1 9 6 8 2 12 8 9 6 9 3 10 5 3 396 12 673 2 781 601 19 681 5 000 14 6 4 1 3 1 0 7 23 4 58 1 1 46 8 136 8 29 2 6 3 206 6 52 5 1 1 080 0 829 4 838 4 826 1 603 8 1 20 0 20 0 20 0 20 0 20 0 20 0 22 175 22 418 32 852 26 418 20 456 35 616 23 563 24 036 4 371 46 611 24 881 4 551 45 981 34 564 66 200 ROA 1 5 5 0 1 2 0 3 11 8 ROE 4 3 15 4 3 5 0 8 28 9 34 1 31 3 35 0 38 2 45 3 126 2 143 5 101 9 82 5 20 2 0 3 0 3 0 4 0 4 0 7 SR
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119. N 9 93 1 12 16 bye 16 NNE 22 SW Strengths Weaknesses 25 II 26 RN 30 GAG 32 YR 32 i 45 47 SER 49 UE io 5 ER 50 50 ee 38SE ee 50 NN NN 58 1 HI 58 ER 58 1 CE 59 1 1 60 a T sShared Wesearch http www sharedresearchjp Copyright C 2013 Shared Research Inc All Rights Reserved w es Shared Yesearch http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved e 4680 SR Research Report 2014 6 9 2014 3 29
120. Shared Research Inc All Rights Reserved Shared1 ROA ROE SR 4680 30 815 361 1 141 6 846 39 163 202 298 169 9 609 212 076 251 240 156 25 569 13 516 39 241 113 318 13 051 126 369 165 611 86 177 548 85 629 85 629 251 240 1 346 138 887 108 072 1 5 4 3 0 3 59 9 6 1 79 4 99 8 34 1 126 2 SR Research Report 2014 6 9 11 3 12 3 13 3 14 3 22 773 414 1 347 12 637 37 171 202 599 231 12 104 214 934
121. Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 4680 SR Research Report 2014 6 9 2013 3 2013 5 9 2013 3 85 903 4 1 11 565 27 99 8 217 28 4 601 78 4 2012 4 2 2012 12 2012 9 2 2012 3 x 1 344 2012 3 1 314 30 9 0 2012 3
122. ch Report 2014 6 9 SW Strengths Weaknesses Strengths CM

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