ãM&Aã®ã®ããã£ãŠäœãªã®ïŒã
ãM&Aã«ãããã®ããã®ç®çãç¥ãããã
ãã®èšäºããèŠ§ã®æ¹ã¯ãäžèšã®ãããªçåããæã¡ã®äººãå€ãã®ã§ã¯ãªãã§ããããã
å®éã«ãM&Aãã®ãããçãšæ€çŽ¢ããŠããä¿¡ææ§ã«æ¬ ããèšäºãå°éå®¶ãå·çããè§£èªãé£è§£ãªèšäºãããªããçŽ äººãç®ã«ããŠãçè§£ã§ããªãèšäºãå€ãã§ãã
ããã§ãä»åã¯M&Aã®å°éäŒæ¥ã§ãããM&A HACKãããM&Aã®ã®ããã«ã€ããŠåãããããç°¡æœã«è§£èª¬ããŸãã
ãŸãM&Aã®ã®ããã«ãããäœææ¹æ³ãç®çã«ã€ããŠã詳ãã解説ããã®ã§ãM&Aã«èå³ã®ãã人ã¯ããã²åèã«ããŠãã ããã
ç®æ¬¡
- 1 M&Aã«ããããã®ããããšã¯
- 2 M&Aã«ããããã®ãããã®çš®é¡
- 3 ãã®ãããã®ååŽãšæžæ
- 4 M&Aã«ããããã®ãããã®èšç®æ¹æ³
- 5 ãã®ãããã®è²¡å諞衚ã§ã®åãæ±ã
- 6 ãã®ãããã®äŒèšåºæº
- 7 M&Aã«ããããã®ããæžæããçºçããçç±
- 8 M&Aã®åã«è¡ãã¹ããã®ããæžæãã®å¯Ÿçæ¹æ³
- 9 M&AåŸã«ãã®ããæžæããåé¡ãšãªã£ãäºäŸ
- 10 M&Aã«ããããã®ã³ã³ãµã«ãã£ã³ã°äŒç€Ÿ
- 11 ãŸãšã
M&Aã«ããããã®ããããšã¯
M&Aãšã¯ãäŒæ¥ãšäŒæ¥ã«ããè²·åãå䜵ãšãã£ãçµç¹åç·šããããªãããã®ææ³ã®ã²ãšã€ã§ããç¹ã«äžå°äŒæ¥ã®æ°ãå€ãæ¥æ¬ã§ã¯ãM&Aã«ããååŒãçãã«ãããªãããŠããåŸåã«ãããŸãã
ãããªM&Aã«ãããã¯ãŒããšããŠãããç»å Žããã®ããã®ããããšããèšèã§ããã®ããã¯M&AåŸã®èªç€ŸäŒèšã«ã倧ããªåœ±é¿ãåãŒããããããçè§£ããŠããå¿ èŠããããŸãã
ãã®ãããã®æå³
M&Aã«ããããã®ãããã¯ãè²·åäŒæ¥ïŒè²ãåãäŒæ¥ïŒã売åŽäŒæ¥ïŒè²æž¡äŒæ¥ïŒãååŸããéã«æ¯æã£ãè³Œå ¥äŸ¡æ Œãã売åŽäŒæ¥ã®çŽè³ç£ïŒè³ç£ç·é¡ããè² åµç·é¡ãåŒããé¡ïŒãäžåãéšåãæãã¯ãŒãã§ããããã¯ãäŒèšäžã®ç¡åœ¢è³ç£ãšããŠæ±ããããGoodwillïŒã°ãããŠã£ã«ïŒããšãåŒã°ããŸãã
ã®ããã¯å£²åŽäŒæ¥ãæã€ä»¥äžã®ãããªç¡åœ¢è³ç£ã®äŸ¡å€ã衚ããŸãã
- ãã©ã³ã䟡å€
- 顧客åºç€ããã€ã€ã«ãã£
- åŸæ¥å¡ã®ã¹ãã«ãç¥è
- ããžãã¹ã®ç¬èªæ§ãç«¶äºåªäœæ§
- å°æ¥ã®åçæåŸ
äžèšã¯éåžžã財åè«žè¡šã«æç€ºçã«èšèŒãããŠããªããããè²·åæã«äŸ¡æ Œã®å·®é¡ãšããŠãã®ããããšããŠèšäžãããŸããã®ããã¯ãäŒæ¥äŸ¡å€ã«å«ãŸããç¡åœ¢ã®åŒ·ã¿ãæ°å€åãããããè²·åäŸ¡æ Œãæ£åœåããææãšãªããã®ã§ãã
ãã®ãããã®ç±æ¥
ã®ããã¯ã売åŽäŒæ¥ãæã€ç¡åœ¢è³ç£ã®äŸ¡å€ã衚ãã¯ãŒãã§ãããã®ãããã¯ããã®åã®éããåºã®è»å ã«æ²ãããããæç°ŸïŒã®ããïŒãã«ç±æ¥ããŠãããæŽå²ã®äžã§äŒæ¥ã確ç«ããŠãããã©ã³ãåã顧客ãšã®é¢ä¿ã瀺ããŠããŸãã
ãã®ããããšã¯ãå ã ã¯ååºã飲é£åºã®å ¥å£ã«ãããããŠããåžè£œã®å¹ãæããã®ã§ãããã®æç°Ÿã«ã¯åºåãå±å·ãèšãããŠããããã®åºã®ä¿¡çšããã©ã³ãã象城ãããã®ãšãªã£ãŠããŸãã
æ¥æ¬ã®åååŒã§ã¯ãåºã®ãä¿¡çšãããè©å€ãããã倧ããªè²¡ç£ãšããããããå売ã®ç¶ç¶ãæåãå·Šå³ããŸããããã®ãæç°Ÿã®äŸ¡å€ãã転ããŠãäŒæ¥ã®æã€ç¡åœ¢ã®äŸ¡å€ïŒãã©ã³ãã顧客åºç€ãäºæ¥ã®ä¿¡é Œæ§ãªã©ïŒã衚ãèšèãšãªã£ãŠããŸãã
M&Aã«ããããã®ãããã®çš®é¡
M&Aã«ããããã®ãããã«ã¯ããäŒèšã«ãããã®ããããçšåã«ãããã®ããããè² ãã®ãããã®3ã€ãååšããŸãããããã詳ãã解説ããŠãããŸãã
äŒèšã«ããããã®ããã
äŒèšã«ããããã®ãããã¯ãåå¥è²¡å諞衚ãšé£çµè²¡å諞衚ãåããŠèæ ®ããªããã°ãªããŸãããåå¥è²¡å諞衚ãšã¯ãäŒç€Ÿå šäœã«ãããæ±ºç®æžã®ããšãæããŸãã
äžå°äŒæ¥ã®M&Aã«ãããŠã¯ããæ ªåŒè²æž¡ãã®ã¹ããŒã ãçšããããããšãå€ãã§ãããããæ ªåŒè²æž¡ã®ã¹ããŒã ã«ãããŠã¯ãåå¥è²¡å諞衚äžã¯ãã®ãããèšäžãããŸããããã®ãããè²·ååŽã売åŽåŽã®çŽè³ç£ä»¥äžã®éé¡ãæ¯æã£ããšããŠããåäŒç€Ÿæ ªåŒãšããŠéé¡ãèšäžãããã®ã§æ³šæãå¿ èŠã§ãã
äžæ¹ã§ãé£çµè²¡å諞衚ãšã¯ãäžå ŽäŒæ¥ãªã©ãå瀟ã®è²¡å諞衚ïŒåå¥è²¡å諞衚ïŒãçµã¿åãããŠäœã£ããã®ã§ãããããæ ªåŒè²æž¡ã®ã¹ããŒã ãçšãããããšããŠããã®ãããèšäžãããããšããããŸãã
çšåã«ããããã®ããã
çšåã«ããããã®ãããã§ã¯ãã®ãããšããŠèšç®ã«çµã¿èŸŒãã éé¡ããçšååŠçã«ãããŠè³ç£èšäžã»è² åµèª¿æŽåå®ãšããŠåŠçããããšãããã®ã§ãã
çšåã§ã¯ããã®ãããã¯ãäžå®ã®æéã§ååŽããããšãèªããããŠããŸããäŒèšäžã¯ãã®ããã䜿çšå¯èœæéã«åºã¥ããŠååŽãŸãã¯éååŽãšããéžæè¢ããããŸãããçšåäžã¯äžåŸã§5幎éã®åçååŽãæ±ããããã®ãäžè¬çã§ãã
ãŸãæäŸ¡çŽè³ç£ã察䟡ãäžåãã°ãçšåäžã«ãããæ£ã®ã®ãããšããŠè³ç£èª¿æŽåå®ãèšäžããŸãããããäžæ¹ã§ã察䟡ãçŽè³ç£ã«éããªããã°ãè² ã®ã®ãããšããŠè² åµèª¿æŽåå®ã«èšç®ã«çµã¿èŸŒãŸããŸãã
è² ã®ãã®ããã
éåžžãM&Aã«ããããã®ããããšã¯ãM&AååŒã«ãã£ãŠåŒãç¶ãã ç¡åœ¢è³ç£ã衚ããã®ã§ãããããäžæ¹ã§ãè² åµãšããŠèªèãããããè² ã®ã®ããããšããŠæ±ãããããšããããŸãã
è² ã®ã®ãããšã¯ãè²·å䟡é¡ãã売åŽåŽäŒæ¥ã®æäŸ¡çŽè³ç£é¡ãåŒããçµæããã€ãã¹æ°å€ã§ããå Žåã«çšãããããã®ã§ãããã®ãããè² ãã®ããã§ããããšã¯ãè²·ãæåŽã«ãšã£ãŠåºæ¬çã«ã¯ãã©ã¹ã«åããŸãã
ããããå²å®ã§ããããšã«ã¯å¿ ãçç±ãããããæ³šæãå¿ èŠã§ããäŸãã°ãå°æ¥ã®ãªã¹ãã©èšç»ãäŒèšåŠçã®ãªãç°¿å€åµåãªã©ãçºèŠããå Žåã«ã¯ãè²·å䟡é¡ãåãåŒãããããšã«ãªããŸãã
ãã®ãããã®ååŽãšæžæ
ãã®ãããã¯ãäŒæ¥ã«ãšã£ãŠç¡åœ¢è³ç£ãæå³ãããã®ã§ãããããä»ã®é ç®ãšåæ§ã«äŒèšåŠçãããŸããã
ãã®ãããã¯äž»ã«ååŽãããã¯æžæã®ããããã«ãŠäŒèšåŠçãããããšãäžè¬çã§ããããããã®åŠçæ¹æ³ã«ã€ããŠè©³ãã解説ããŠãããŸãã
ãã®ãããã®ååŽ
ãœãããŠã§ã¢ãç¹èš±æš©ãªã©ã¯ããã®ãããã«åé¡ãããç¡åœ¢åºå®è³ç£ãšããŠäŒèšåŠçãããããšãå€ãã§ããç¡åœ¢åºå®è³ç£ã¯ãæ©æ¢°ãå·¥å Žãªã©ã®èšåãšåæ§ã«æžäŸ¡ååŽãããããšã«ãªããŸãã
ã®ããã®äŸ¡å€ã¯æ°žç¶çã«ç¶ãããã§ã¯ãªããäžå®æéãçµéããããšã§ããã®äŸ¡å€ã¯æžå°ãããããšãã»ãšãã©ã§ãããã®ãããã®ããã®ååŸè²»çšãäžå®æéã®äžã§ãæžäŸ¡ååŽããããšãå®ããããŠããŸãã
ãã®ãããã®æžæ
ãã®ãããã®æžæãšã¯ãããã°ãM&Aã®å€±æã«ããæå€±ããæããã®ã§ããã®ããã®æžæã§ã¯ãã®ããã®åž³ç°¿äŸ¡é¡ããå®éã®çµæžäŸ¡å€ãããé«ããªã£ãå Žåããã®å·®é¡ãæå€±ãšããŠèšäžããŸãã
äŸãã°ãM&Aã«ããäŒæ¥ãè²·åããå Žåããã®è²·åã«æè³ããéé¡ã¯ãè²·åããäŒæ¥ã®åçã§ååããããšãç®è«ãã±ãŒã¹ãã»ãšãã©ã§ããããããM&AåŸã®è²·åå äŒæ¥ã®çµå¶ãé£èªããã°ãæè³åã®éé¡ãååããããšã¯ã§ããŸããã
M&A宿œæã«èŠèŸŒãã§ããåçã¯ãååŸæã«è²žåå¯Ÿç §è¡šã®ãè³ç£ãã®éšåã«ã®ãããšããŠèšäžãããŸããããããèŠèŸŒãŸããŠããåçãååã§ããªããšå€æããå Žåã«ã¯ã垳簿äžã®äŸ¡æ ŒãåŒãäžããããšãå¿ èŠãšãªãããã®äŒèšåŠçããã®ããã®æžæããšåŒã¶ã®ã§ãã
M&Aã«ããããã®ãããã®èšç®æ¹æ³
M&Aã«ããããã®ãããã®èšç®æ¹æ³ã«ã¯ãè€æ°ã®ææ³ãååšããŸããM&Aã«ããããã®ãããã®èšç®æ¹æ³ã¯ãäž»ã«ä»¥äžã®3ã€ã§ãã
- ã³ã¹ãã¢ãããŒã
- ã€ã³ã«ã ã¢ãããŒã
- ããŒã±ããã¢ãããŒã
ãããã詳ãã解説ããŠãããŸãã
ã³ã¹ãã¢ãããŒã
ã³ã¹ãã¢ãããŒããšã¯ãè³ç£ãåååŸããããã«å¿ èŠãªã³ã¹ããããããçŸåšã®ç¶æ ã«åæ§ç¯ããããã®ã³ã¹ãã«åºã¥ããŠè©äŸ¡ãè¡ãææ³ã§ããç¹ã«ãéå»ã®ååŒäŸ¡æ Œãåžå ŽååŒããªãè³ç£ã®è©äŸ¡ã«æçšãšãããŠããŸãã
ã³ã¹ãã¢ãããŒãã¯ãè³ç£ã®åååŸã³ã¹ãã«åºã¥ããããè©äŸ¡ãæ¯èŒçæç¢ºã§èšç®ãç°¡åã§ããããšãæå€§ã®ã¡ãªããã§ããããã«ã³ã¹ãã¢ãããŒãã®ææ³ã§ããã°ãåžå ŽããŒã¿ãäžè¶³ããŠããå Žåã§ãé©çšããããšãã§ããŸãã
äžæ¹ã§ãã³ã¹ãã¢ãããŒãã§ã¯ãå®éã®åžå ŽäŸ¡å€ïŒååŒäŸ¡æ ŒïŒãåæ ããŠããªãå¯èœæ§ãããããæ³šæãå¿ èŠã§ããè©äŸ¡ã«ã¯å°éçãªç¥èãå¿ èŠã§ãæžäŸ¡ååŽãçµå¹Žå£åã®èšç®ã䞻芳çã«ãªãããããšãã匱ç¹ããããŸãã
ã€ã³ã«ã ã¢ãããŒã
ã€ã³ã«ã ã¢ãããŒããšã¯ãç¡åœ¢è³ç£ã®äŸ¡å€ãå°æ¥ã®åçããã£ãã·ã¥ãããŒã«åºã¥ããŠè©äŸ¡ããææ³ã®äžã€ã§ããã€ã³ã«ã ã¢ãããŒãã¯ã察象è³ç£ãçã¿åºãäºæž¬åçãçŸåšäŸ¡å€ã«å²ãåŒãããšã§ããã®è³ç£ã®å ¬æ£äŸ¡å€ãç®å®ããŸãã
ã€ã³ã«ã ã¢ãããŒãã¯ã察象ãšãªãç¡åœ¢è³ç£ãå°æ¥ã«ãããçã¿åºããšäºæ³ãããåçããã£ãã·ã¥ãããŒãèŠç©ãããã®ã§ããããã¯ãè³ç£ã®å©çšã«äŒŽãçŽæ¥çãªåçãã³ã¹ãåæžå¹æãªã©ãèæ ®ããŸãã
PPAã«ãããŠãã€ã³ã«ã ã¢ãããŒãã¯ç¹ã«éèŠãªææ³ã§ãããç¡åœ¢è³ç£ã®è©äŸ¡ã«ãããéææ§ã粟床ãé«ãã圹å²ãæãããã®ã§ãããã®ã¢ãããŒããæ¡çšããéã«ã¯ãåçäºæž¬ãå²åŒçã®èšå®ã«ã€ããŠååãªæ€èšãæ±ããããŸãã
ããŒã±ããã¢ãããŒã
ããŒã±ããã¢ãããŒãã¯ãè³ç£ãåžå Žã§ã®ååŒäŸ¡æ Œãé¡äŒŒè³ç£ã®ååŒäŸ¡æ Œã«åºã¥ããŠè©äŸ¡ããææ³ã§ããããŒã±ããã¢ãããŒãã§ã¯ãæ¯èŒå¯èœãªååŒããŒã¿ã掻çšããåžå Žã®å®å¢äŸ¡æ Œãåæ ããè©äŸ¡ãè¡ããŸãã
ããŒã±ããã¢ãããŒãã¯ãå®éã®ååŒäŸ¡æ Œã«åºã¥ããããè©äŸ¡é¡ãåžå ŽäŸ¡æ Œã«è¿ãããšãã¡ãªããã§ããå®éã®ããŒã¿ãåºã«è©äŸ¡ãè¡ãªãããããã客芳çãªæ ¹æ ãæç¢ºã«ããªããè©äŸ¡ãè¡ãããšãã§ããŸãã
ãã ããååãªååŒããŒã¿ããªãå Žåããé¡äŒŒæ§ã®ããè³ç£ãååšããªãå Žåã«ã¯é©çšãé£ããããšã匱ç¹ã§ããè©äŸ¡å¯Ÿè±¡ãšæ¯èŒè³ç£ã®æ¡ä»¶ãç°ãªãå Žåã調æŽãè€éã§äž»èгçãªèŠçŽ ãå ¥ãå¯èœæ§ããããŸãã
ãã®ãããã®è²¡å諞衚ã§ã®åãæ±ã
ãã®ãããã®è²¡å諞衚äžã§ã®åãæ±ãã¯ã宿œãããM&Aã®ã¹ããŒã ïŒææ³ïŒã«ãã£ãŠç°ãªããŸãã
M&Aã«ããããã®ãããã®åãæ±ãã¯ãæ ªåŒè²æž¡ã»æ ªåŒäº€æã®å Žåãšãå䜵ã®å Žåã§åãæ±ãã«éããããã®ãç¹åŸŽã§ãããããã詳ãã解説ããŠãããŸãã
æ ªåŒè²æž¡ã»æ ªåŒäº€æã®å Žå
M&Aã®ã¹ããŒã ãšããŠãéåžžã«å€æ§ãããããã®ããæ ªåŒè²æž¡ãŸãã¯æ ªåŒäº€æã«ããååŒã§ããæ ªåŒè²æž¡ã»æ ªåŒäº€æã®å Žåã§ã¯ã売åŽåŽäŒæ¥ãè²·ååŽäŒæ¥ã®åäŒç€Ÿãšãªãã±ãŒã¹ãæå³ããŸãã
æ ªåŒè²æž¡ã»æ ªåŒäº€æã®å Žåã§ã¯ãè²·ååŽäŒæ¥ã®åäœè²¡å諞衚ã§ã¯ãåäŒç€Ÿãšãªã£ãäŒæ¥ã®æ ªåŒãååŸããããšãèšäžãããã ãã§ãã®ããã®èšäžã¯å®æœãããŸããããã ããåäŒç€Ÿã®äŒèšããŒã¿ãå«ããé£çµè²¡å諞衚ã§ã¯ãã®ããã®èšäžãå¿ é ã§ãã
å䜵ãªã©ã®å Žå
M&Aã«ãããå䜵ã§ã¯ãè²·ååŽã«ãã売åŽåŽäŒæ¥ã®ãåžåå䜵ããå€çšãããŸããåžåå䜵ã®å Žåã§ã¯ãè²·ååŽäŒæ¥ã¯ã売åŽåŽäŒæ¥ã®äŒèšæ å ±ããã¹ãŠåã蟌ãããšã«ãªããããè²·ååŽäŒæ¥ã®åäœè²¡å諞衚ã«ã®ããã®èšäžãããããšãå¿ é ã§ãã
ãŸãä»ã«åäŒç€ŸãååšããŠãããé£çµè²¡å諞衚ãäœæããå Žåã«ã¯ãåäœè²¡å諞衚ãšåæ§ã«é£çµè²¡å諞衚ã«ããã®ããã®èšäžã宿œããããšã«ãªããŸãã
ãã®ãããã®äŒèšåºæº
ã®ããã®èšäžã«ã¯ããæ¥æ¬äŒèšåºæºããšãIFRSïŒåœé財åå ±ååºæºïŒããšãã2ã€ã®äŒèšåºæºãååšããŸããããããã®äŒèšåºæºã«ã€ããŠè©³ãã解説ããŠãããŸãã
æ¥æ¬äŒèšåºæº
æ¥æ¬äŒèšåºæºã«ããããã®ããããšã¯ãäŒæ¥ãä»ç€Ÿãè²·åããéã«ãååŸå¯ŸäŸ¡ïŒæ¯æéé¡ãªã©ïŒãååŸããçŽè³ç£ïŒè³ç£ããè² åµãå·®ãåŒããé¡ïŒã®å ¬æ£ãªè©äŸ¡é¡ãäžåãå Žåã«çããå·®é¡ãæããŸããæ¥æ¬äŒèšåºæºã®ç¹åŸŽã¯ã以äžã®éãã§ãã
- ã®ããã®èªè
ã®ããã¯ãè²·åæã«çºçããå·®é¡ãšããŠèªèããããå ·äœçã«ã¯ãè²·å察䟡ããååŸããçŽè³ç£ïŒè³ç£ïŒè² åµïŒã®æäŸ¡ãå·®ãåŒããçµæãæ£ã®å·®é¡ãçºçããã°ãã®ããããšããŠèšäžãã - ã®ããã®ååŽ
æ¥æ¬äŒèšåºæºã§ã¯ãã®ããã¯ãå®é¡æ³ãã§ååŽããªããã°ãªããªããååŽæéã¯20幎以å ã®åççãªæéãšãããŠããããååãšããŠçµæžçã«ã®ããã®å¹æãæåŸ ãããæéã«ããã£ãŠååŽããã - ã®ããã®æžæ
ã®ããã¯æžæã®å åãããå Žåã«æžæãã¹ããè¡ããæžæãå¿ èŠãšå€æãããå Žåãã®ããã®åž³ç°¿äŸ¡é¡ãæžé¡ãããã®å·®é¡ãæå€±ãšããŠèšäžããã - è² ã®ã®ãã
è²·å察䟡ãååŸããçŽè³ç£ã®æäŸ¡ãäžåãå Žåããè² ã®ã®ããããçºçãããè² ã®ã®ããã¯çºçæã«ãç¹å¥å©çããšããŠäžæ¬èšäžãããŸãã
æ¥æ¬äŒèšåºæºã§ã¯ååŽã矩åä»ããããŠãããããã®ãããé·æéã«ããã£ãŠäŒæ¥ã®åçã«äžãã圱é¿ãåŸã ã«åæ ãããä»çµã¿ãç¹åŸŽçã§ãã
IFRSïŒåœé財åå ±ååºæºïŒ
IFRSïŒåœé財åå ±ååºæºïŒã«ããããã®ãããã¯ãäŒæ¥ãä»ç€Ÿãè²·åããéã«ãæ¯æã£ãååŸå¯ŸäŸ¡ãååŸããçŽè³ç£ïŒè³ç£ïŒè² åµïŒã®å ¬æ£ãªè©äŸ¡é¡ãäžåãéšåãšããŠèªèãããŸãã
ããã¯ãæ¥æ¬äŒèšåºæºãšåæ§ã«ããã©ã³ãåã顧客åºç€ãã·ããžãŒå¹æãªã©ã®ç¡åœ¢äŸ¡å€ã衚ããã®ã§ãã以äžã¯ãIFRSã«ãããç¹åŸŽã«ãªããŸãã
- ã®ããã®èªè
äŒæ¥çµåäŒèšã«é¢ããåºæºïŒIFRS 3ãäŒæ¥çµåãïŒã«åºã¥ããååŸå¯ŸäŸ¡ãã被ååŸäŒæ¥ã®èå¥å¯èœãªçŽè³ç£ïŒå ¬æ£äŸ¡å€ããŒã¹ïŒãå·®ãåŒããæ£ã®å·®é¡ããã®ããããšããŠèšäžããã - ã®ããã®ååŽ
ååŽã¯è¡ãããååŽã®ä»£ããã«æ¯æãæžæãã¹ããã宿œããŠäŸ¡å€ãè©äŸ¡ããŸãã - ã®ããã®æžæ
ã®ããã®åž³ç°¿äŸ¡é¡ãååå¯èœããè©äŸ¡ããããã«ãæ¯å¹ŽïŒãŸãã¯æžæã®å åãããå ŽåïŒæžæãã¹ãã宿œããã垳簿䟡é¡ãååå¯èœäŸ¡é¡ãäžåãå Žåããã®å·®é¡ããæžææå€±ããšããŠæçèšç®æžã«èšäžããã - è² ã®ã®ãã
è²·å察䟡ãååŸããçŽè³ç£ã®å ¬æ£äŸ¡å€ãäžåãå Žåãè² ã®ã®ãããçºçããŸããè² ã®ã®ããã¯ãIFRSã§ã¯ãããŒã²ã³ã»ããŒãã§ã¹ããšåŒã°ããçºçæã«å©çãšããŠæçèšç®æžã«èšäžããŸãã
æ¥æ¬äŒèšåºæºã§ã¯ãã®ããã¯èŠåçã«ååŽããããšã«ãªã£ãŠããŸãããIFRSã§ã¯ã®ããã®ååŽã¯å®æœãããŸãããæ¯å¹ŽååŽãããããšããªããããæçèšç®æžäžãå©çããã€ãã¹ã«ãªããªãããšãã¡ãªããã§ãã
M&Aã«ããããã®ããæžæããçºçããçç±
M&Aã®ãã®ãããã«ãããŠå€§ããªèª²é¡ãšãªã£ãŠããã®ãããã®ããæžæãã®çºçã§ããã®ããæžæãçºçããçç±ã«ã¯ãäž»ã«ä»¥äžã®ãããªãã®ããããŸãã
- ãã¥ãŒããªãžã§ã³ã¹ã®äžè¶³
- èŠèŸŒã¿ãããçç£æ§ãäœã
- ååŽæéäžã«èãããã©ã³ã䟡å€ãäœäžãã
- è²·å䟡é¡ãé©åãªäŸ¡å€ã§ã¯ãªã
- åœåã®äºå®ããæ¥çžŸã䌞ã³ãªã
ãããã詳ãã解説ããŠãããŸãã
ãã¥ãŒããªãžã§ã³ã¹ã®äžè¶³
ãã¥ãŒããªãžã§ã³ã¹ã®äžè¶³ã¯ãã®ããæžæã«ç¹ãã倧ããªèŠå ã®ã²ãšã€ã§ããè²·åå¯Ÿè±¡äŒæ¥ã®å°æ¥ã®åçæ§ãã·ããžãŒå¹æãé倧è©äŸ¡ããçµæãæ¯æäŸ¡æ Œãé«ããªããã®ãããé倧èšäžãããããšããããŸãã
äŸãã°ããã¥ãŒããªãžã§ã³ã¹ãäžååã§ãããšãè²·ååŸã«åžå Žç°å¢ãç«¶äºç°å¢ã倧ããå€åããåçèŠéããæªåããå Žåãæžæãªã¹ã¯ãé«ãŸãã§ããããè²·åæã«é·æçãªåžå Žååãå€éšãªã¹ã¯ãžã®å¯Ÿå¿çãå忀èšãããŠããªããšãå€åã«å¯Ÿå¿ã§ããã«æžæãçºçããããšããããŸãã
ãŸãç¡åœ¢è³ç£ïŒé¡§å®¢é¢ä¿ããã©ã³ã䟡å€ãç¹èš±ãªã©ïŒã®é©åãªè©äŸ¡ãè¡ããããã®ãããšããŠäžæ¬èšäžãããã±ãŒã¹ãå€ãã§ããããã«ãããè²·ååŸã«æã£ãã»ã©åçãçãŸãªãç¶æ³ã«é¥ãããšããããŸãã
èŠèŸŒã¿ãããçç£æ§ãäœã
ååŸæã«æåŸ ããŠããçç£æ§ãåçæ§ããå®éã«ã¯èŠèŸŒã¿ãããäœãã£ãå Žåã«ã¯ãã®ããæžæãçºçããå¯èœæ§ãé«ãã§ãã
è²·åå äŒæ¥ãäºæ¥ã®æ¥çžŸããæåŸ ãããæé·çãåçæ°Žæºã«éããªãå Žåãã®ããã®äŸ¡å€ã«åœ±é¿ããã§ããããäŸãã°ãç«¶äºæ¿åãåžå Žç°å¢ã®å€åãªã©ãèŠå ãšãªããŸãã
ä»ã«ã¯ãè²·ååŸã®PMIïŒPost Merger Integrationãçµ±åããã»ã¹ïŒãäžååã§ãã·ããžãŒå¹æãæåŸ éãã«åŸãããªãå Žåã§ããããã«ã¯ãäŒæ¥æåã®éãããããžã¡ã³ãã®äžäžèŽãå«ãŸããŸãã
ååŽæéäžã«èãããã©ã³ã䟡å€ãäœäžãã
ååŽæéäžã®èãããã©ã³ã䟡å€äœäžã¯ãã®ããæžæãæã倧ããªçç±ã®ã²ãšã€ã§ããç¹ã«ãã©ã³ã䟡å€ãã®ããã®éèŠãªæ§æèŠçŽ ã®å Žåããã®äœäžãã®ããã®äŸ¡å€ã«çŽæ¥åœ±é¿ãåãŒããŸãã
äŸãã°ãæ¶è²»è ã®ä¿¡é Œã倧ããæå€±ããå Žåãã®ããæžæãçºçããå¯èœæ§ãé«ãã§ãã補åã®å質åé¡ããªã³ãŒã«ã®çºçãäŒæ¥ã®äžç¥¥äºãªã©ã¯ãäŒæ¥ã®ãã©ã³ã䟡å€ã倧ããæªåãããã®ããæžæã«å°ããŸãã
ãŸãç«¶åä»ç€Ÿãå°é ããŠããå Žåããåãããã«ã®ããæžæãçºçããå¯èœæ§ãé«ãã§ããæ°ããç«¶åä»ç€Ÿãé åçãªãã©ã³ããæã€è£œåããµãŒãã¹ãæäŸããèªç€Ÿã®åžå Žã·ã§ã¢ã奪ãããšããããŸãã
è²·å䟡é¡ãé©åãªäŸ¡å€ã§ã¯ãªã
M&Aã«ããè²·åäŸ¡æ Œãé©åã§ãªãå Žåã«ã¯ãã®ããæžæãçºçããå¯èœæ§ãé«ãã§ããç¹ã«è²·åå äŒæ¥ãé倧è©äŸ¡ããŠããå Žåã«ã¯ãè²·ååŸã«ã®ããæžæãçºçãããªã¹ã¯ã倧ããé«ãŸããŸãã
è²·åäŸ¡æ Œãå¯Ÿè±¡äŒæ¥ã®å®éã®çµæžäŸ¡å€ãåçåãäžåã£ãŠããå Žåããã®å·®é¡ãã®ãããšããŠèšäžãããã®ãäžè¬çã§ããããããæåŸ ããŠããåçãäžããããªãå Žåããäºæ¥èšç»ãéæãããªãå Žåã«ã¯ãã®ããã®äŸ¡å€ãèŠçŽãå¿ èŠãçããçµæãšããŠæžæãçºçããå¯èœæ§ãé«ãŸããŸãã
ãŸãè²·ååŸã«åžå Žç°å¢ãæ¥çååãæ¥éã«å€åããåçæ§ãæªåããå Žåã«ããã®ããæžæãçºçããå¯èœæ§ãé«ãã§ããäŸãã°ãæè¡é©æ°ãæ°ããªç«¶äºè ã®ç»å Žãåå ãšãªãããšããããŸãã
åœåã®äºå®ããæ¥çžŸã䌞ã³ãªã
M&AååŒåŸã«åœåã®äºå®ããæ¥çžŸã䌞ã³ãªãã£ãå Žåã«ã¯ãã®ããæžæãçºçããå¯èœæ§ãé«ãã§ããåœåèŠèŸŒãã§ããã·ããžãŒå¹æãåçæ§ã®åäžãå®çŸãããå¯Ÿè±¡äŒæ¥ã®æ¥çžŸãæåŸ ãäžåãå Žåãã®ããæžæãçºçããå¯èœæ§ãé«ãŸããŸãã
M&Aã®éã«èšäžãããã®ããã¯ãå°æ¥ã®åçæ§ãäºæ¥äŸ¡å€ãåæ ãããã®ã§ããæ¥çžŸãäŒžã³æ©ããšãæè³é¡ãååå°é£ãšãªããã®ããã®åž³ç°¿äŸ¡é¡ãé倧ãšå€æãããå ŽåããããŸãã
ãŸãM&AåŸã«äºæãã¬çµæžçèŠå ïŒæ¯æ°åŸéãç«¶äºæ¿åãèŠå¶å€æŽãªã©ïŒãçºçããæ¥çžŸãäœè¿·ããã±ãŒã¹ãå€ãã§ããããã«çµå¶çµ±åãçµç¹æåã®éãã«ããæ©æŠãã·ããžãŒå¹æãå®çŸããããã®èšç»ãå®è¡ãäžè¶³ããŠããå Žåãç®æšæªéãçãããããªããŸãã
M&Aã®åã«è¡ãã¹ããã®ããæžæãã®å¯Ÿçæ¹æ³
M&Aã«ããããã®ããæžæãã¯ãå¯èœãªéãäºåã«äºé²ããããšãå¿ é ã§ããããã§ãããã§ã¯ãã®ããæžæã®å¯Ÿçæ¹æ³ã«ã€ããŠè§£èª¬ããŠãããŸããã®ããæžæã®äž»ãªå¯Ÿçæ¹æ³ã¯ã以äžã®éãã§ãã
- ãã¥ãŒããªãžã§ã³ã¹ã培åºãã
- äººå¡æŽçãèãã
- 人æã®åé 眮ãè¡ã
- ç«¶åååã®éžå®ããã
- äŒèšåºæºã®éããèªèãã
- é©åãªäŸ¡å€ã§ã®M&Aãè¡ã
ãããã詳ãã解説ããŠãããŸãã
ãã¥ãŒããªãžã§ã³ã¹ã培åºãã
ã®ããæžæãé²ãããã«æãæå¹ãªæ¹æ³ã¯ããã¥ãŒããªãžã§ã³ã¹ã培åºããããšã§ããå察ã«ãã¥ãŒããªãžã§ã³ã¹ãäžè¶³ããŠãããšãã®ããæžæã®ãªã¹ã¯ã¯å€§å¹ ã«é«ãŸããŸãã
ã®ããæžæãé²ãããã«ã¯ããã¥ãŒããªãžã§ã³ã¹ã®éã«ãã©ã³ã䟡å€ãç¹èš±ã顧客ãªã¹ããªã©ãè²·åå¯Ÿè±¡äŒæ¥ã®ç¡åœ¢è³ç£ãæ£ç¢ºã«è©äŸ¡ããããšã倧åã§ããPPAïŒPurchase Price AllocationïŒãéããŠãç¡åœ¢è³ç£ãé©åã«èå¥ããããã«ããŸãããã
é©åãªãã¥ãŒããªãžã§ã³ã¹ã宿œããããšã§ãè²·åäŸ¡æ Œã®åŠ¥åœæ§ã確ä¿ããéå°ãªã®ããèšäžãåŸã®æžæãªã¹ã¯ãæå°éã«æããããšãå¯èœã§ãã
äººå¡æŽçãèãã
ã®ããæžæãé²ãããã«ã¯äººå¡æŽçãèããããšã倧åã§ããM&AåŸãæåŸ ãããã·ããžãŒå¹æãåŸãããæ¥çžŸãæªåãããšãçµæçã«ã®ããæžæãªã¹ã¯ãé«ãŸããŸãããã®ãããé©åãªäººå¡æŽçãçµç¹ã®åç·šãè¡ããå¹ççãªéå¶äœå¶ãæ§ç¯ããããšã倧åã§ãã
被買åäŒæ¥ãšè²·åäŒæ¥ã®éã§åœ¹å²ãéè€ããå Žåããã®èª¿æŽãå¿ èŠã§ããäŸãã°ã管çéšéã鿥éšéã®çµ±åã«ãã人å¡ã®é©æ£åãèããããŸãã
ãŸãäººå¡æŽçã ãã§ã¯ãªããåŸæ¥å¡ã®ã¹ãã«åäžãé©åãªé 眮転æãéããŠãå šäœçãªçç£æ§ãåäžãããããšãéèŠã§ããããã«äººå¡æŽçãé¿ããããªãå Žåã§ããåŸæ¥å¡ã«å¯ŸããŠéææ§ã®ãã説æãé©åãªè£åãè¡ãããšã§ãäžæºã士æ°ã®äœäžãæå°éã«æããããšãæ±ããããŸãã
人æã®åé 眮ãè¡ã
ã®ããæžæãé²ãããã«ã¯ã人æã®åé 眮ãæå¹ãªå¯Ÿçã®äžã€ã§ããè²·åããäŒæ¥ãäºæ¥ã«ãããŠãåŸæ¥å¡ã®ã¹ãã«ãçµéšãæå€§é掻ãããéšçœ²ã圹å²ãèŠçŽãããšã§ãçç£æ§ãæ¥çžŸåäžãå³ãããšãã§ããŸãã
人æã®åé 眮ãè¡ãããšã¯ãM&Aã«ããäŒæ¥éå士ã®ã·ããžãŒå¹æçºæ®ã«ãããŠãéèŠã§ããè²·åå ãšè²·åå ã®äººæãèåãããããŒã éã®ååãä¿é²ããããšã§ãçµç¹å šäœã®å¹çãé«ããã
ãŸã人æã®åé 眮ã¯ãåŸæ¥å¡èªèº«ã®ã¢ãããŒã·ã§ã³ã®ç¶æãšåäžãå³ãããšãå¯èœã§ããçµç¹åç·šãé 眮転ææã«åŸæ¥å¡ã®äžå®ãæå°éã«æããææ¬²ãé«ããããã®ã³ãã¥ãã±ãŒã·ã§ã³ãæè²ããã°ã©ã ã宿œããããšãæå¹ã§ãããã
ç«¶åååã®éžå®ããã
ã®ããæžæãé²ãããã«ã¯ãç«¶åååã®éžå®ãè¡ãããšãæå¹ã§ããç«¶åååã®éžå®ãéããŠåžå Žååã顧客ããŒãºãææ¡ããããšãã§ããããã«åºã¥ããæŠç¥ãçå®ããããšã§ãäºæ¥ã®åçæ§ãç¶æã»åäžãããããšãã§ããŸãã
ç«¶åååã®éžå®ãè¡ãããã§ã¯ããŸãç«¶åååã®åæã培åºããŠè¡ãããšããã€ã³ãã§ããç«¶åååã®ç¹åŸŽãäŸ¡æ Œåž¯ãã·ã§ã¢ãåžå Žã§ã®è©å€ãªã©ã詳现ã«åæããããšã§ãèªç€Ÿååã®ããžã·ã§ãã³ã°ãæç¢ºåããŸãã
ãŸãå·®å¥åæŠç¥ã®æ§ç¯ãããããšãéèŠã§ããç«¶åååã®åæçµæãããšã«ãèªç€Ÿã®åŒ·ã¿ã掻ãããå·®å¥åã§ãããã€ã³ããæç¢ºåããããšã§ãç«¶äºåãé«ããããŸããç«¶äºåãé«ããããšã§ã®ããã®äŸ¡å€ãç¶æããæžæãªã¹ã¯ãäœæžããããšãå¯èœã§ãã
äŒèšåºæºã®éããèªèãã
ã®ããæžæãé²ãããã«ã¯äŒèšåºæºã®éããèªèããããšããã€ã³ãã§ããååŽã®æç¡ã»æžæãã¹ãã®ã¿ã€ãã³ã°ãšææ³ãç¡åœ¢è³ç£ã®èå¥ãªã©ãäŒèšåºæºã®éããèªèããããã«ããŸãããã
ç¹ã«ã®ããã®èšäžã«ãããŠãååŽã®æç¡ã¯éåžžã«éèŠãªãã€ã³ãã§ããæ¥æ¬åºæºã§ã¯ãã®ããã¯å®æååŽïŒéåžžã¯20幎以å ïŒãæ±ããããäžæ¹ã§ãIFRSïŒïŒåœé財åå ±ååºæºïŒã§ã¯ååŽã¯è¡ãããæ¯ææžæãã¹ããæ±ããããŸãã
ãŸãæžæãã¹ãã®ã¿ã€ãã³ã°ãšææ³ãçè§£ããããšãéèŠã§ããã®ããèšäžã§ã¯ãæžæãã¹ãã®é »åºŠã宿œåºæºãç°ãªããŸããIFRSãUS GAAPã§ã¯å¹Žæ¬¡ã§ã®æžæãã¹ããå¿ é ã§ãããæ¥æ¬åºæºã§ã¯ç¹å®ã®å åãçŸããå Žåã«å®æœããŸãã
é©åãªäŸ¡å€ã§ã®M&Aãè¡ã
ã®ããæžæãé²ãããã«ã¯ãé©åãªäŸ¡å€ã§ã®M&Aãè¡ãããšãéèŠã§ããããããé©åãªäŸ¡å€ã§ã®M&AãååŒã宿œããªããã°ãã©ããªã«æ£ç¢ºã§ç確ãªããã»ã¹ã§ååŒã«è³ã£ãŠããã®ããæžæãæããŠããŸããŸãã
é©åãªäŸ¡å€ã§M&Aãè¡ãããã«ã¯ã䟡å€è©äŸ¡ææ³ã®é©çšãããæ€èšããããšãéèŠã§ããã€ã³ã«ã ã¢ãããŒããããŒã±ããã¢ãããŒããã³ã¹ãã¢ãããŒããªã©è€æ°ã®è©äŸ¡ææ³ã掻çšããé©åãªäŸ¡å€ãç®å®ããŸãããã
ãŸãM&AåŸã®äºæ¥çµ±åèšç»ïŒPost-Merger Integration, PMIïŒãé©åã«èšèšãããŠããªãå Žåãã·ããžãŒå¹æãå®çŸãããæåŸ éãã®åçãäžããããªãå¯èœæ§ããããŸããè²·ååããçµ±åæŠç¥ãæç¢ºã«ããèšç»çã«å®è¡ããããšãéèŠã§ãã
M&AåŸã«ãã®ããæžæããåé¡ãšãªã£ãäºäŸ
ã®ããã¯å°æ¥ã®æ¥çžŸäºæž¬ã«åºã¥ããŠèšäžããããããM&AåŸã®æ¥çžŸãäºæž¬ãããäžåãå Žåã«ã¯ããã®ããæžæããçºçããŸããããã§ã¯ãM&AåŸã«ã®ããæžæãèµ·ãã£ãäºäŸã玹ä»ããŠãããŸãã
DeNAã®ãã¥ã¬ãŒã·ã§ã³ã¡ãã£ã¢äºæ¥ã«é¢ããæžæ
倧æã€ã³ã¿ãŒãããã²ãŒã éçºæ¥è ã§ãããDeNAããã®ããæžæãçºçããäºäŸã§ããDeNAã¯ã2017幎ïŒå¹³æ29幎ïŒ3ææã«ãã¥ã¬ãŒã·ã§ã³ã¡ãã£ã¢äºæ¥ã«é¢ããã®ããã«ã€ããŠã®ããæžæãèšäžããŸããã
DeNAã¯ãã²ãŒã äºæ¥ã®ã»ããéºäŒåæ€æ»ãµãŒãã¹ãèªåé転ããã¥ã¬ãŒã·ã§ã³ãµã€ããªã©ãäºæ¥ãå€è§åããŠããäŒæ¥ã§ãããããããããã®äºæ¥ã¯ããããã²ãŒã ã«äžŠã¶ã»ã©ã®åçåã«ã¯è³ããããã¥ã¬ãŒã·ã§ã³ãµã€ãã§ã¯äžç¥¥äºãçºçããŠããŸãã
ãWELQããšããå»çæ å ±ãµã€ãã«ãããæ å ±ã®ä¿¡ãŽããæ§ã«ç矩ãçºçããããšãåããé¢é£ãããã¥ã¬ãŒã·ã§ã³ãµã€ãã®å ¬éãäžæ¢ããããšãäž»ãªèŠå ã§ããæ¬ä»¶ã«é¢ããã®ããæžæé¡ã¯ã40ååçšãšãããŠãããæ¥çžŸã«äžãã圱é¿ã¯ãã»ã©å€§ãããããŸããã§ããã
楜倩ã®ç±³åœåäŒç€Ÿã«é¢ããã®ããæžæ
æ¥æ¬ã®å€§æã€ã³ã¿ãŒãããé¢é£äŒç€Ÿã§ãããæ¥œå€©ããã2016幎12ææã«çŽ200ååã«ããã¶ãã®ããæžæãèšäžããäºäŸã§ãã
楜倩ã¯ç±³åœåäŒç€Ÿã§ãããVikiããéããŠã¢ã¡ãªã«ã§ã®ãã£ãªã¢äºæ¥ãå±éããŠããŸãããããããæžæãã¹ãã®çµæãè²·åæã«æ³å®ããæè³ååãå°é£ãšå€æããã®ããæžæãèšäžããŠããŸãã
æ¬ä»¶ã¯ãåœå 倧æäŒæ¥ã®æµ·å€å±éãäžæããããªã£ã代衚çãªäºäŸã§ããæ¬ä»¶ã«ãããæ¥œå€©ã¯ã®ããæžæã§ã»ãŒè²·åé¡ã«çžåœããéé¡ã®æå€±ãèšäžããŠããŸãã
ã©ã€ã¶ããã®ãè² ã®ã®ãããèšäž
åœå 倧æããŒãœãã«ãžã éå¶äŒæ¥ã§ãããã©ã€ã¶ããïŒçŸïŒã©ã€ã¶ããã°ã«ãŒãïŒããè² ã®ã®ãããèšäžããäºäŸã§ããM&Aã«ããäºæ¥æ¡å€§ãç®æããäŒæ¥ããM&AæŠç¥ã®èŠçŽããæ€èšããäºäŸãšããŠæ³šç®ãããŸããã
ã©ã€ã¶ããã¯ãç°æ¥çš®ã§ãã£ãŠãæ¥çžŸã®ä¹ããäŒæ¥ãå®äŸ¡ã§è²·åããã°ã«ãŒãã®äºæ¥èŠæš¡ãæ¡å€§ããŠããäŒæ¥ã§ããããã¯èµ€åäŒæ¥ãè²·åããããšã§çºçãããè² ã®ã®ããããç¹å¥èšäžå©çãšããŠèšäžããããšã§ãäŒèšäžã®å¢çãè¡ãããšãç®çãšãªããŸãã
ãããM&AåŸã«ãè²·åããå€ãã®äŒæ¥ã«ãããçµå¶æ¹åãæãããã«é²æããã2018幎ã«ã¯ã°ã«ãŒãå šäœã§å€§å¹ ãªèµ€åãèšäžããå幎11æã«ã¯M&AæŠç¥ãäžæåæ¢ããçºè¡šãããŸããã
M&Aã«ããããã®ã³ã³ãµã«ãã£ã³ã°äŒç€Ÿ
M&Aã«ãããŠå°éå®¶ã®å©åãåŸãããšã¯éåžžã«éèŠã§ããããã§ãããã§ã¯ãM&Aã«ããããã®ã³ã³ãµã«ãã£ã³ã°äŒç€Ÿã玹ä»ããŠãããŸãã
M&A HACK

äŒç€Ÿå | ååäŒç€ŸSFS |
èšç« | 2022幎12æ |
æ¬ç€Ÿæåšå° | æ±äº¬éœå°æ±åºåè¶³1-14-9 ã¬ã¢ã©ã€ãºæµ è2 4F |
å ¬åŒãµã€ã | https://sfs-inc.jp/ma/ |
M&A HACKã¯ãåœç€ŸãååäŒç€ŸSFSããéå¶ããM&Aã³ã³ãµã«ãã£ã³ã°äŒç€Ÿã§ãã2022幎ã®èšç«ããæ¢ã«å€ãã®ã客æ§ã«äŸé Œãããã ããŠããŸãã
åœç€Ÿã¯ãã¹ããŒã察å¿ããå®å šæåå ±é ¬å¶ãããªã¹ã¯ãªããã®3ã€ãã³ã³ãµã«ãã£ã³ã°ã®è»žãšããŠããã®ãç¹åŸŽã§ããM&AååŒãã¹ã ãŒãºã«ããããªããããå®å šæåå ±é ¬å¶ãæ¡çšããããšã§ãã客æ§ã®è² æ ãæå°éã«æããããšãã¢ãããŒãšããŠããŸãã
M&Aã®è€éãªããã»ã¹ããåœç€Ÿã§ããã°äžæ°é貫ããŠåŸ¹åºãµããŒãããããšãå¯èœã§ãããã¡ããçžè«ã¯ç¡æã§è¡ã£ãŠããã®ã§ããã²ãæ°è»œã«ãçžè«ãã ããã
ç¡æçžè«ã®ãäºçŽïŒhttps://sfs-inc.jp/ma/contact
M&Aãã£ãã¿ã«ããŒãããŒãº

äŒç€Ÿå | M&Aãã£ãã¿ã«ããŒãããŒãºæ ªåŒäŒç€Ÿ |
èšç« | 2005幎10æ |
æ¬ç€Ÿæåšå° | æ±äº¬éœäžå€®åºå «é掲äºäžç®2çª1å·æ±äº¬ãããã¿ãŠã³å «éæŽ²å «éæŽ²ã»ã³ãã©ã«ã¿ã¯ãŒ36é |
å ¬åŒãµã€ã | https://www.ma-cp.com/ |
M&Aãã£ãã¿ã«ããŒãããŒãºã¯ã2005幎ã®èšç«ä»¥æ¥ãè²æž¡æ ªäŸ¡ç·é¡2,565ååãããããšããããã®å£²äžé«4,462ååãªã©ã®å®çžŸãèªãM&Aã³ã³ãµã«ãã£ã³ã°äŒç€Ÿã§ãã
ãæ ªäŸ¡ã¬ãŒãã³æ¹åŒããæ¡çšããŠãããååŒäŸ¡æ Œã«å¿ããŠææ°æãèšå®ããŠããŸãããã®ãããæ¯æãææ°æããªãŒãºããã«ã§ããããšãé åã§ããäœèšãªã³ã¹ããæããªãããã³ã³ãµã«ãã£ã³ã°ãäŸé Œããããšãã§ããŸãã
ãŸãå瀟ã«ã¯ä»æ¥ãææããã³ã³ãµã«ãã£ã³ã°ã倿°åšç±ããŠããã®ãç¹åŸŽã§ããããããã®åéã«ç¹åããã³ã³ãµã«ã¿ã³ããåšç±ããŠããã®ã§ãå¹ åºãåéã®æ¡ä»¶ã«å¯ŸããŠæè»ã«å¯Ÿå¿ããããšãã§ããŸãã
å±±ç°ã³ã³ãµã«ãã£ã³ã°ã°ã«ãŒã

äŒç€Ÿå | å±±ç°ã³ã³ãµã«ãã£ã³ã°ãã«ãŒãæ ªåŒäŒç€Ÿ |
èšç« | 1989幎7æ |
æ¬ç€Ÿæåšå° | æ±äº¬éœå代ç°åºäžžã®å 1äžç®8çª1å·äžžã®å ãã©ã¹ãã¿ã¯ãŒN通10é |
å ¬åŒãµã€ã | https://www.yamada-cg.co.jp/ |
å±±ç°ã³ã³ãµã«ãã£ã³ã°ã°ã«ãŒãã¯ã1989幎ã®èšç«ä»¥æ¥é·ãã«ããã£ãŠM&Aã³ã³ãµã«ãã£ã³ã°ãè¡ã£ãŠããèèäŒæ¥ã§ãã嵿¥30幎以äžçµéããŠããããšãããæ¥çãããã¯ã©ã¹ã®ååŒå®çžŸãæã¡ãŸãã
å±±ç°ã³ã³ãµã«ãã£ã³ã°ã°ã«ãŒãã®ç¹åŸŽã¯ãå€§äŒæ¥ã®M&Aã®ã¿ãªãããäžå°èŠæš¡ã®M&AäŸé Œãæè»ã«è«ãè² ã£ãŠãããç¹ã§ããå šåœã«æ¯åºãå±éããŠãããããå°åãåããçžè«ãè¡ãããšãã§ããŸãã
ãŸãM&Aã³ã³ãµã«ãã£ã³ã°ã®äŸé Œä»¥å€ã«ããã¢ããã€ã¶ããŒæ¥åãå±éããŠããã®ãç¹åŸŽã§ããã³ã³ãµã«ãã£ã³ã°ãšã¢ããã€ã¶ãªãŒã®äž¡èŠç¹ãããããé©åã§ç¢ºåºŠã®é«ããµããŒããè¡ã£ãŠãããŸãã
æ¥æ¬M&Aã»ã³ã¿ãŒ

äŒç€Ÿå | æ ªåŒäŒç€Ÿæ¥æ¬M&Aã»ã³ã¿ãŒ |
èšç« | 2021幎4æ |
æ¬ç€Ÿæåšå° | æ±äº¬éœå代ç°åºäžžã®å äžäžç®8çª2å· |
å ¬åŒãµã€ã | https://www.nihon-ma.co.jp/ |
æ¥æ¬M&Aã»ã³ã¿ãŒã¯ãæ±äº¬éœå代ç°åºã«æ¬ç€Ÿã眮ã倧æM&Aã³ã³ãµã«ãã£ã³ã°äŒç€Ÿã§ããè±å¯ãªå®çžŸãšåªããã³ã³ãµã«ã¿ã³ããæ±ããŠãããæ¥çã§ãé«ãç¥å床ãèªããŸãã
æ¥æ¬M&Aã»ã³ã¿ãŒã®æçŽæ°ã¯ã8500ä»¶è¶ ãšãªã£ãŠããã3幎é£ç¶ã§ã®ãã¹èšé²ãM&Aãã¡ã€ãã³ã·ã£ã«ã¢ããã€ã¶ãŒæ¥åã®æå€åãæ±ãäŒæ¥æ°ãã«èªå®ãããŠããã»ã©ã§ãã
è±å¯ãªå®çžŸãããåããéããåãæ±ããžã£ã³ã«ã®å¹ ãéåžžã«åºããããããæ¥çã»ååŒã«ãããããŠããŠãææããŠããŸãããŸãM&Aã³ã³ãµã«ãã£ã³ã°äŒç€Ÿã§ãããªãããéèæ©é¢ãšã飿ºããŠãããããM&Aã«ãããè³éé¢ã§ã確å®ãªãµããŒãããããªã£ãŠãããŸãã
ã€ã³ã¿ãŒãªã³ã¯

äŒç€Ÿå | ã€ã³ã¿ãŒãªã³ã¯æ ªåŒäŒç€Ÿ |
èšç« | 2010幎8æ20æ¥ |
æ¬ç€Ÿæåšå° | æ±äº¬éœäžå€®åºæ¥æ¬æ©å çº5çª1å· |
å ¬åŒãµã€ã | https://www.interlink-ma.co.jp/ |
ã€ã³ã¿ãŒãªã³ã¯ã¯ã2010幎ã«èšç«ãããM&Aã³ã³ãµã«ãã£ã³ã°äŒç€Ÿã§ããäž»ã«ææºåM&A仲ä»ã®å°éäŒç€ŸãšããŠè±å¯ãªå®çžŸãæã£ãŠãããåã ã®äŒæ¥ã«åãããç¬èªã®ææ¡ããããªããã§ãæœåšçãªããŒãºã®é¡åšåãæ¯æŽããŠãããŸãã
ã€ã³ã¿ãŒãªã³ã¯ã¯ãã仲ä»åãã®M&Aã³ã³ãµã«ãã£ã³ã°äŒç€Ÿã§ããããã仲ä»è ãšããŠåæ¹ã®äŒæ¥ãšã®ä¿¡é Œé¢ä¿ãç¯ãããšãéèŠããŠããã®ãç¹åŸŽã§ããM&AååŒã«ãããŠåœäºè éã®èªèã«éœéœ¬ãçºçããªãããã確å®ã«ååŒãé²è¡ãããŠãããŸãã
äžã€ã®ãžã£ã³ã«ãæ¥çã«ç¹åããŠããªãåé¢ããããŸã§ç¬ç«ã»äžç«åœ¹ã§ããããšã«éãã眮ããŠããã®ãã€ã³ã¿ãŒãªã³ã¯ã®ç¹åŸŽã§ãããã®ãããçŽç²ã«æ¡ä»¶ãæç«ãããããã«ã®ã¿ã泚åããŠãããŸãã
ãŸãšã
ä»åã¯M&Aã«ããããã®ãããã®ååŽæéãäŒèšåŠçã»ä»çµã¿ã€ããŠè©³ãã解説ããŸãããM&Aã¯çµå¶æŠç¥ãšããŠéåžžã«æå¹ãªææ®µã§ãããå®éã«M&Aã宿œããããšã«ãã£ãŠã倧ããäºæ¥ãçºå±ãããããçµå¶ãç«ã¡çŽãããäŒæ¥ã¯å€ãååšããŸãã
ãããŠM&Aã®æåã«ã¯ãM&Aã³ã³ãµã«ãã£ã³ã°äŒç€Ÿã®ååšãæ¬ ãããŸãããM&Aã³ã³ãµã«ãã£ã³ã°äŒç€Ÿã掻çšããããšã§ãM&Aã«ç¥èŠãçµéšããªãäŒæ¥ãèªç€Ÿã«ã¡ãªããã®ããM&AååŒãçµã¶ããšãã§ããŸãã
åœç€Ÿã®M&A仲ä»ãµãŒãã¹ãM&A HACKãã§ã¯äžèšã®æŠç¥å®è¡ã»è²·ãæç޹ä»ãå®å šæåå ±é ¬ã§ãªã¹ã¯ãªãã®å ±é ¬åœ¢æ ã§äžæ°é貫察å¿ããŠããŸããååã®çžè«ã¯ç¡æã§ãã®ã§ãæ°è»œã«äžèšãããçžè«ãã ããã
ç¡æçžè«ã®ãäºçŽïŒ
https://sfs-inc.jp/ma/contact