2013年7月 - イオンディライト
Contents
1. SR Inc2. SR 09 2 6 991 18 025 188 28 2 500 2 794 30 150 762 343 475 13 1 009 2 602 1 730 534 1 566 3 658 11 974 649 12 623 18 885 49 035 10 551 1 688 7 892 20 131 56 768 824 1 744 20 956 28 079 3 238 2 963 20 852 461 42 72 1 456 28 079 7 502 1 744 5 247 DE 7 964 16 284 122 20 3 000 2 880 30 026 1 185 305 284 15 952 2 741 2 050 289 1 779 141 3 97 7 11 295 629 11 924 18 644 48 670 8 974 80 7 227 16 281 31 993 1 024 111 17 306 31 364 3 238 2 964 25 366 461
3. 2013 2 100 M amp A 5 000 esearch lp http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9787 SR Research Report 201377 17_ Weaknesses
4. SR
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6. 2011 5 BEMS 2014 2 BEMS 1 600 20 2011 4 2012 12 A
7. lt 2 CSR Corporate Social Responsibility CSR e LED CO2 sh ared hesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved
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9. 48 22 9 34 9 6 34 9 7 19 4 0 2 7 2013 2 2013 2 2 489 13 2 421 0 2 318 1 3 405 1 7 90
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11. Sh ared Gcsearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9787 SR Research Report 201377 17 2011 2012 FMS a SR 2013 2 2014 2
12. Sh ared Gear http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9787 SR Research Report 2013 7 17 09 2 10 2 11 2 12 2 20 955 21 118 23 989 28 631 30 227 14 4 15 1 14 0 13 0 12 1 9 946 9 970 12 031 13 762 13 901 6 8 7 1 7 0 6 3 5 6 EBITDA 11 441 11 563 13 818 16 107 16 138 EBITDA 7 9 8 2 8 1 7 3 6 5 3 3 3 9 3 8 3 1 3 0 ROA 10 1 11 2 9 7 7 8 7 8 ROE 19 9 18 9 15 5 12 5 12 5 3 02 2 87 2 56 2 48 2 57 7 502 7 330 7 298 9 047 22 366 149 8 184 4 209 9 215 5 226 9 135 8 166 6 195 3 201 0 207 6 CF 0 31 0 39 0 29 0 30 0 13 24 0 25 0 24 7 16 6 15 5 CF 0 0 0 0 0
13. LED 74 2013 2 260 531 86 1 393 7 0 312 3 2 108 35 6 LED
14. Shared 1 esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9787 SR Research Report 2013 7 17 2013 2 12 8 318 1 3 27 4 6 13 1 2331 23 596 1 9735 34 89
15. BEMS LAN 2015 HEMS BEMS FEMS CEMS HEMS Home BEMS Building FEMS Factory CEMS Cluster Community i a i oa io i a i oo i oo io io a oo i i oa i i a io i a i i a io oa i io a a i i a i
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17. 1 2013 2 1 519 2012 10 2013 4 100
18. 2013 4 2014 2 2013 2 90 1 5 2013 3 2014 2
19. Shared Mesearch http Www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9787 SR Research Report 2013 7 17 M amp A 2013 3 4 1 3086 2013 4 1 M amp A 82 2013 3 M amp A 2013 3 4 1 8263 TOB 4 2013 3 2 2013
20. 65 M amp A M amp A FMS BPO 3 1 2 3 FMS
21. Sh aredd esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9787 SR Research Report 2013 7 17 LED LED 2013 2 260 2012 2 74 2014 2 LED LED 3 7 2012 4 BEMS Building Energy Management System BEMS
22. LED 6 BEMS BEMS Sh aredd esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9787 SR Research Report 2013 7 17 BEMS BEMS
23. M amp A FMS 65 FMS 2012
24. 2013 2 LED 44 M amp A 2012 2 12 84 esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved i 9787 SR Research Report 201377 17 2013 2 95 71
25. 409 2010 9 2011 4 90 2011 5 24 365 QASDAQ 2702 1 8218 2012 10 55
26. 8 2013 2 2013 2 200 M amp A 108 11 2013 2 2011 2 315 153 2013
27. 106 2 4 16 9 0 15 59 3 84 6 8 11 2 1 12 5 4 105 4 1 19 2 0 18 39 6
28. FMS FMS FMS FMS 1 4711 1 4781 1 9728 3
29. Sh sfed esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9787 SR Research Report 2013 7 17 2012 8 WAON EV i
30. 3 2014 2 2015 2 2017 2 3 Sh ared Gear http Www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9787 SR Research Report 201377 17_ 1 8267 1972 2011 3 1996 1976 2
31. 16 90 12 79 16 29 21 33 32 69 2013 2 2013 5 9 018 3 777 46 6 5 147 2013 2 sh ared hesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved SR Research Report 201377717_ 542 0081 2 3 2 1 1995 9 29 2 TIR http www aeondelight co jp ir IR 54 169 3 238 2013 2 2013 2 9787 SR Research Report 201377 17_
32. 42 050 31 805 40 519 53 071 39 284 31 200 10 823 4 661 2 692 5 918 2 209 1 462 2 396 504 11 1 8 5 14 6 4 2 3 7 7 7 4 7 SR 2013 2 SW Strengths Weaknesses Strengths 65 65 SR FMS FMS FMS
33. From Japan Made in China Sh aredd esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9787 SR Research Report 2013 7 17 FMS 70 0 TIT BPO 51 09 AEON DELIGHT VIETNAM CO LTD 100 FMS AEON DELIGHT MALAYSIA SDN BHD 100
34. 2014 2 1 2013 7 3 2014 2 1 667 13 9 82 17 0 12 2 11 9 esearch lp http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 14 2 14 2 1Q 2Q 4Q 66 711 52 1 128000 239 8 173 77 123 4 782 72 3390 440 7700 90 5 1 3403 442 7700 97 51 1 858 453 4100 40 2 8 9787 SR Research Report 2013 7 17
35. 2010 9 E 2013 2 L LED Shared esearch lp http www sharedresearch jp
36. 3 8 10 2013 2 7 3 2010 9 Shared Gxcscarch lp http Www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9787 SR Research Report 2013 7 17 66 4 BPO 2013 2 4 39 108 35 6 5 223 19 M amp A
37. 1997 1990 2001 2003 2006 2006 600 4 6
38. 2012 2 2013 2 5 3 2012 2 2013 2 16 3 405 1 7 59 0 6
39. 6 1 800 355 000 x 17 4 000 M amp A M amp A Ssh ared Gear http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9787 SR Research Report 2013 7 17 SM 1 708 2013 2 SR 18 SR Shared
40. SR Inc SR Inc 3 31 12 03 5834 8787 http www sharedresearch D Email info sharedresearch D sh ared hesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved
41. 2014 2 1 500 159 43 49 13 31 39 7 9 LED 66 70 279 LED 2 107 12 6 8 32 7 7 89 75 0 1
42. 4 500 SR EE 9 600 2011 4 179 29 LED LED 2011 2 020 2012 3 700 2020 4 500 LED 260 7 400 2013 4 1 12 5 000 400
43. 2009 2 M amp A M amp A 2013 2 11 09 2 10 2 11 2 12 2 8 2 8 2 7 7 7 4 6 6 44 7 44 6 47 6 49 4 55 7 6 565 0 4 965 8 196 4 127 3 116 2 0 1 0 1 1 9 2 9 3 1 12 0 12 2 9 4 8 3 9 1 30 5 29 9 39 0 44 1 40 3 14 3 14 8 10 4 8 2 18 5 SR
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45. 7 2 7 9 1 1 1 30 43 1 7 146 1 24 7 Sh aredd esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9787 SR Research Report 2013 7 17 18 9 2
46. 1954 1971 1985 2002 2006 2012 2013 shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9787 SR Research Report 2013 7 17_ 2013 2 9 018 5 184 3 777 2 169
47. 2 8 209 25 8 5 2014 2 2013 2 21 39 531 86 19 22 14 19 7 10
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50. 1 500 1 8 500 2 5 2014 2 1 12 19 12 2014 2 LED 2014 2 155 11 5 6 0 5 6 155 11 6
51. 83 10 5 4 10 2014 2 2014 2 2014 2 M amp A 2014 2 M amp A Sh aredd esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9787 SR Research Report 201377 17 48 46 9 30 3 32 196 2011 4 2012 2 2014 2 2014 2 3 000 220 M amp A
52. 2011 2 esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved Shared 9787 SR Research Report 2013 7 17 09 2 10 2 11 2 12 2 13 2 145 000 150 000 181 000 213 000 260 000 145 690 140 299 170 905 219 797 248 876 0 5 6 5 5 6 3 2 4 3 9 100 10 100 12 050 14 300 16 600 9 946 9 970 12 031 13 762 13 901 9 3 1 3 0 2 3 8 16 3 9 000 9 900 12 105 14 300 16 600 9 812 9 912 12 089 13 784 13 892 9 0 0 1 0 1 3 6 16 3 4 600 5 200 6 470 7
53. 2 1 2 500 2 2 000 09 2 10 2 11 2 12 2 13 2 1 6 668 7 031 6 808 9 639 4 358 2 2 087 1 966 3 000 10 051 7 086 FCF 1 2 4 581 5 065 3 808 412 2 728 5 255 4 169 1 321 2 722 2 257 A 1 495 1 593 1 787 2 345 2 237 B 707 912 792 1 184 1 607 C 108 172 32 1 749 13 319 FCF NI A B C 5 556 6 319 7 522 6 324 5 180 SR
54. 4 2013 2 58 5 2013 2 2011 2 29 0 Shared esearch lp http Www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9787 SR Research Report 2013 7 17 09 2 10 2 11 2 12 2 27 383 52 999 54 433 19 6 29 8 27 0 22 466 20 280 19 647 20 215 20 610 18 7 18 7 14 0 11 4 10 2 94 857 86 071 87 185 95 676 118 200 79 2 79 2 62 3 53 9 58 5 2 475 2 256 5 808 8 766 8 687 2 1 2 1 4 1 4 9 4 3 119 799 108 608 140 024 177 658 201 933 SR
55. 14 3 14 8 10 4 8 2 18 5 108 172 32 1 749 13 319 SR 6 79 6 09 2 10 2 11 2 12 2 13 2 101 77 31 80 3 484 3 650 4 175 5 300 5 897 584 206 120 92 251 323 103 101 121 120 90 188 195 216 268 295 21 24 19 15 18 6 321 7 058 7 257 8 883 9 623 11 008 11 148 11 957 14 868 16 326 SR
56. 65 40 Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved Sh sfed 9787 SR 42 253 5 1 36 670 2 3 42 403 3 2 18 515 5 846 62 8 145 690 5 9 124 735 20 955 11 3 14 4 11 008 7 6 9 946 19 4 6 8 108 241 9 812 19 9 6 7 110 940 4 026 44 8 4 876 11 3 3 3 41 666 1 4 34 281 6 5 45 050 6 2 13 889 5
57. BEMS BEMS BEMS CO2 SPC 2014 2 35 2015 2 Ssh ared Gear http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9787 SR Research Report 201
58. BPO BtoBtoC FMS5 50 2 2011 24 365 200
59. 2013 2 46 6 10 0 5 147 2 809 UI
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66. 2 90 2014 2 1 5 2013 4 M amp A 2012 11 50 2012 11 Ssh ared Gear http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9787 SR Research Report 201377 17 8 2013 2 4 3 09 2 12 5 15 8 SR 1 8905
67. 2 68 10 M amp A 2013 2 645 2009 2 2 3 2007 2 39 9 2010 2 64 2 ROE 2011 2 M amp A 07 2 08 2 09 2 10 2 11 2 12 2 13 2 39 9 47 4 54 1 64 2 62 3 61 9 62 6 ROE 16 9 21 0 19 9 18 9 15 5 12 5 12 5 SR 2008 2 2007 12 1 2 2010 9
68. 2 M amp A 2012 10 14 2 13 2 126 771 122 105 248 876 128 000 132 000 260 000 15 3 11 2 13 2 1 0 8 1 4 5 111 789 106 859 218 648 14 982 15 245 30 227 3 3 7 9 5 6 11 8 12 5 12 1 7 869 8 457 16 326 6 2 6 9 6 6 7 113 6 788 13 901 7 700 7 800 15 500 2 9 0 9 1 0 8 2 14 9 11 5 5 6 5 6 5 6 6 0 5 9 6 0 7 124 6 768 13 892 7 700 7 800 15 500 2 1 0 6 0 8 8 1 15 2 11 6 5 6 5 5 5 6 6 0 5 9 6 0 3 944 3 565 7 509 4 100 4 200 8 300 6 2 11 5 8 6 3 9 17 8 10 5 SR 2014 2
69. 9787 SR Research Report 2013 7 17 e eco LED 45 2008 2011 LED 1 1 19 1 2010 2011 2012
70. 1 1 30 2011 2 12 769 Sh ared Gcsearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9787 SR Research Report 2013 7 17 07 2 08 2 09 2 10 2 11 2 12 2 13 2 20 700 41 400 414 000 41 400 54 170 54 170 54 170 SR 3 189 1 707 2013 2 2012 2 1 720 6 2013 74 2 2013 2 46 2014 2 2 48 30 3 2006 2 9 20
71. 10 2011 2011 4 2012 3 3 7 130 3 19 2 2009 2 i i i sh ared hesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9787 SR Research Report 201377 17
72. 145 110 31 364 7 330 111 7 853 11 2 13 098 28 246 226 1 476 18 920 3 010 64 524 1 234 265 1 791 284 182 3 756 2 983 278 1 701 196 4 766 10 546 1 031 11 577 20 100 84 624 22 424 49 8 251 30 724 6 1 006 1 012 55 31 737 52 887 3 238 18 741 30 575 461 645 149 52 887 7 298 55 13 043 SR Research Report 12 2 9 707 31 240 657 1 52 7 27 320 3 349 12 486 1 217 246 1 918 284 108 3 773 2 577 406 1 517 224 4 276 11 249 1 023 12 272 20 322 92 809 23 720 41 9 882 33 643 15 968 983 56 34 626 58 182 3 238 18 753 35 285 460 647 173 545 58 182 9 047 56 9 651 7J 2009 2 15 esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 2013 7 17 13 2 10 014 44 673 144 2 237 18 020 4 523 79 323 1 089 274 2 079 282 72 3 796 2 973 288 2 196 200 5 257 10 801 1 520 12 32 1 21 375 100 699 24 544 10 10 401 34 955 1 190 1 195 36 151 64 547 3 238 18 770 40 539 458 992 205 1 260 64 547 22 366 15 9 999 9787 SR Research Report 2013 7 17
73. 16 500 x1 82 x 365 x 0 55 x90 550 1 000 2 1 1 8 2 1 12 SR 60kg 5kg 2014 2 2014 2 1 500 1 8 SR AD AEON Delight Shared Gxcscarch lp http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9787
74. SR Research Report 2013 7 17 SR 1 2013 2 42 94 16 81 1 91 1 33 1 31 1 27 1 24 9 1 15 1 09 1 06 SR 6
75. esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 9787 2009 2 GMS 603 1 231 41 127 31 1 3 270 4 746 87 395 1 621 12 153 51 42 SR 2009 2 GMS 42 18 18 78 SR 2010 2 601 1 267 52 125 33 1 3 514 4 475 180 386 1 549 12 183 53 44 2010 2 46 19 21 86 2011 2 590 1 307 72 127 32 1 3 811 3 305 268 401 1 410 11 324 56 45 2011 2 52 25 24 101 SR Research Report 2012 2 590 1 537 105 122 29 1 4 121 3 424 418 460 1 383 12 190 59 107 2012 2 54 44 2 033 37 27 236 25 2 456 201377
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77. A EA 34 ON CS 36 CR RC 36 ER 37 RE A A 38 PR 38 ee 39 tii 39 CEN ERNE REE EA 9 GG 42 0 RR NRN Na 43 3 43 Shar ed leSearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved Shared esearch lt 9787 09 2 10 2 11 2 12 2 SR Research Report 2013 7 17 13 2 14 2 2 260 000 4 5 48 0 145 690 140 299 170 905 219 797 248 876 5 9 3 7 21 8 28 6 13 2 20 955 21 118 23 989 28 631 30 227 11 3 0 8 13 6 19 4 5 6 14 4 15 1 14 0 13 0 12 1 9 946 9 970 12 031 13 762 13 901 19 4 0 2 20 7 14 4 1 0 6 8 7 1 7 0 6 3 5 6 9 812 9 912 12 089 13 784 13 892 19 9 1 0 22 0 14 0 0 8 6 7 7 1 7 1 6 3 5 6 4 876 5 466 6 495 6 912 7 509 11 3 12 1 18 8 6 4 8 6 3 3 3 9 3 8 3 1 3 0 41 400 41 400 54 170 54 170 54 170 EPS 122 9 137 8 142 6 131 8 143 2 EPS 122 8 137 6 142 3 131 5 142 7 DPS 22 0 27 0 39 0 40 0 46 0 BPS 669 3 787 8 1 005 6 1 095 6 1 202 4 6 991 7 964 13 098 9 707
78. Copyright C 2013 Shared Research Inc All Rights Reserved 9787 SR Research Report 201377 17_ 1972 2011 3 1996 1976 1995 1999 2000 1987
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