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{"id":2741,"date":"2025-10-20T04:24:28","date_gmt":"2025-10-20T04:24:28","guid":{"rendered":"https:\/\/kuno-cpa.co.jp\/myanmar_blog\/?p=2741"},"modified":"2025-12-08T02:10:01","modified_gmt":"2025-12-08T02:10:01","slug":"myanmar-debt-equity-swap","status":"publish","type":"post","link":"https:\/\/kuno-cpa.co.jp\/myanmar_blog\/myanmar-debt-equity-swap\/","title":{"rendered":"\u30df\u30e3\u30f3\u30de\u30fc\u306b\u304a\u3051\u308bDebt-Equity Swap\uff08DES\uff09\u3068\u306f\uff1f"},"content":{"rendered":"<p><span style=\"font-size: 12pt;\">\u7686\u3055\u3093\u3001\u3053\u3093\u306b\u3061\u306f\uff01<\/span><br \/>\n<span style=\"font-size: 12pt;\">\u6771\u4eac\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u30b0\u30eb\u30fc\u30d7\u3001\u30df\u30e3\u30f3\u30de\u30fc\u62e0\u70b9\u306e\u6e21\u8fba \u6643\u3067\u3059\uff01<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u3044\u3064\u3082\u30d6\u30ed\u30b0\u3092\u304a\u8aad\u307f\u3044\u305f\u3060\u304d\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u3055\u3066\u3001\u4eca\u56de\u306f\u300c\u30df\u30e3\u30f3\u30de\u30fc\u306b\u304a\u3051\u308bDebt-Equity Swap\uff08DES\uff09\u3068\u306f\uff1f\u300d\u306b\u3064\u3044\u3066\u304a\u4f1d\u3048\u3057\u307e\u3059\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-size: 12pt;\"><div class=\"su-box su-box-style-default\" id=\"\" style=\"border-color:#000000;border-radius:5px\"><div class=\"su-box-title\" style=\"background-color:#333333;color:#FFFFFF;border-top-left-radius:3px;border-top-right-radius:3px\">\u30df\u30e3\u30f3\u30de\u30fc\u306b\u3064\u3044\u3066\u77e5\u308a\u305f\u3044\u65b9\u306f\u2026<\/div><div class=\"su-box-content su-u-clearfix su-u-trim\" style=\"border-bottom-left-radius:3px;border-bottom-right-radius:3px\"><\/span><br \/>\n<span style=\"font-size: 12pt;\">\u30df\u30e3\u30f3\u30de\u30fc\u306b\u95a2\u3059\u308b\u57fa\u790e\u77e5\u8b58\u304c\u77e5\u308a\u305f\u3044\u65b9\u306f\u3001\u3053\u3061\u3089\u304b\u3089\u25bc<\/span><br \/>\n<a href=\"https:\/\/tcg-wiki-investment.com\/book\/default\/content\/EUh3eZi1jAd_A8xAvls_LBQpLWCHZknjQfaa_RDUcQQ%3D\"><span style=\"font-size: 12pt;\">\u30fb\u30df\u30e3\u30f3\u30de\u30fc\u306e\u57fa\u790e\u77e5\u8b58<\/span><\/a><br \/>\n<span style=\"font-size: 12pt;\">\u30df\u30e3\u30f3\u30de\u30fc\u306b\u95a2\u3059\u308b\u30bb\u30df\u30ca\u30fc\u306b\u53c2\u52a0\u3057\u305f\u3044\u65b9\u306f\u3001\u3053\u3061\u3089\u304b\u3089\u25bc<\/span><br \/>\n<span style=\"font-size: 12pt;\"><a href=\"https:\/\/kuno-cpa.co.jp\/category\/asean\/myanmar\/\">\u30fb\u30df\u30e3\u30f3\u30de\u30fc\u95a2\u9023\u30bb\u30df\u30ca\u30fc<\/a><\/div><\/div><\/span><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<h2><span style=\"font-size: 18pt;\">\u3010\u30df\u30e3\u30f3\u30de\u30fc\u306b\u304a\u3051\u308bDebt-Equity Swap\uff08DES\uff09\u3068\u306f\uff1f\u3011<\/span><\/h2>\n<p><span style=\"font-size: 12pt;\">\u3000<\/span><\/p>\n<h2><span style=\"font-size: 14pt;\">1. DES\u306e\u610f\u5473\u3068\u5b9f\u52d9\u4e0a\u306e\u4ed5\u8a33<\/span><\/h2>\n<p><span style=\"font-size: 12pt;\">Debt-Equity Swap\uff08DES\uff09\u3068\u306f\u3001\u4f01\u696d\u304c\u62b1\u3048\u308b\u50b5\u52d9\uff08Debt\uff09\u3092\u682a\u5f0f\uff08Equity\uff09\u306b\u8ee2\u63db\u3059\u308b\u53d6\u5f15\u30b9\u30ad\u30fc\u30e0\u306e\u3053\u3068\u3067\u3059\u3002<\/span><br \/>\n<span style=\"font-size: 12pt;\">\u50b5\u6a29\u8005\u306f\u50b5\u6a29\u3092\u682a\u5f0f\u306b\u5909\u63db\u3057\u3001\u50b5\u52d9\u8005\u4f01\u696d\u306f\u8ca0\u50b5\u3092\u8efd\u6e1b\u3057\u3066\u8cc7\u672c\u3092\u5897\u5f37\u3057\u307e\u3059\u3002<\/span><br \/>\n<span style=\"font-size: 12pt;\">\u3053\u308c\u306b\u3088\u308a\u4f01\u696d\u306e\u8ca1\u52d9\u4f53\u8cea\u3092\u6539\u5584\u3057\u3001\u50b5\u6a29\u8005\u306f\u682a\u4e3b\u3068\u3057\u3066\u5c06\u6765\u306e\u53ce\u76ca\u9084\u5143\u3092\u671f\u5f85\u3067\u304d\u308b\u3088\u3046\u306b\u306a\u308a\u307e\u3059\u3002<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><strong>\u4ed5\u8a33\u30a4\u30e1\u30fc\u30b8\uff08\u50b5\u52d9\u8005\u5074\uff09<\/strong><\/span><\/p>\n<table class=\" cke_show_border\">\n<thead>\n<tr>\n<th><span style=\"font-size: 12pt;\">\u5185\u5bb9\u3000\u3000\u3000\u3000<\/span><\/th>\n<th><span style=\"font-size: 12pt;\">\u4ed5\u8a33\u4f8b\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000\u3000<\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><span style=\"font-size: 12pt;\">\u50b5\u52d9\u6d88\u6ec5<\/span><\/td>\n<td><span style=\"font-size: 12pt;\">\u501f\u65b9\uff1a\u501f\u5165\u91d1\u3000\uff0f\u3000\u8cb8\u65b9\uff1a\u8cc7\u672c\u91d1\u307e\u305f\u306f\u8cc7\u672c\u5270\u4f59\u91d1<\/span><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-size: 12pt;\">\u4f1a\u8a08\u4e0a\u306fIFRS\u307e\u305f\u306f\u30df\u30e3\u30f3\u30de\u30fc\u4f1a\u8a08\u57fa\u6e96\u306b\u57fa\u3065\u304d\u3001\u50b5\u6a29\u30fb\u682a\u5f0f\u306e\u516c\u6b63\u4fa1\u5024\u8a55\u4fa1\u3092\u884c\u3044\u307e\u3059\u3002<\/span><\/p>\n<hr \/>\n<h3><\/h3>\n<h2><span style=\"font-size: 14pt;\">2. \u6cd5\u5236\u5ea6\u306e\u7531\u6765\u3068\u65e5\u672c\u3068\u306e\u76f8\u9055<\/span><\/h2>\n<p><span style=\"font-size: 12pt;\">\u30df\u30e3\u30f3\u30de\u30fc\u3067\u306f\u3001Myanmar Companies Law 2017\u304a\u3088\u3073Insolvency Law 2020\uff08\u4f01\u696d\u518d\u5efa\u6cd5\uff09\u306b\u3088\u308a\u3001<br \/>\n\u4f01\u696d\u518d\u69cb\u6210\u306e\u4e00\u74b0\u3068\u3057\u3066\u50b5\u52d9\u3092\u682a\u5f0f\u306b\u8ee2\u63db\u3059\u308b\u53d6\u5f15\u304c\u8a8d\u3081\u3089\u308c\u3066\u3044\u307e\u3059\u3002<\/span><br \/>\n<span style=\"font-size: 12pt;\">\u305f\u3060\u3057\u3001DES\u304c\u72ec\u7acb\u3057\u305f\u5236\u5ea6\u3068\u3057\u3066\u660e\u6587\u5316\u3055\u308c\u3066\u3044\u308b\u308f\u3051\u3067\u306f\u306a\u304f\u3001<\/span><br \/>\n<span style=\"font-size: 12pt;\">\u88c1\u5224\u6240\u30fb\u4e2d\u592e\u9280\u884c\uff08CBM\uff09\u30fb\u6295\u8cc7\u59d4\u54e1\u4f1a\uff08MIC\uff09\u306a\u3069\u306e\u627f\u8a8d\u3092\u7d4c\u3066\u5b9f\u65bd\u3055\u308c\u308b\u30b1\u30fc\u30b9\u304c\u591a\u3044\u306e\u304c\u7279\u5fb4\u3067\u3059\u3002<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u4e00\u65b9\u3001\u65e5\u672c\u3067\u306f\u300cDES\u300d\u3068\u3044\u3046\u6cd5\u5f8b\u306f\u5b58\u5728\u3057\u307e\u305b\u3093\u3002<\/span><br \/>\n<span style=\"font-size: 12pt;\">\u3057\u304b\u3057\u3001\u4f1a\u793e\u6cd5\u7b2c28\u6761\uff08\u73fe\u7269\u51fa\u8cc7\uff09\u3084\u7b2c199\u6761\uff08\u50b5\u6a29\u6255\u3044\u8fbc\u307f\u306b\u3088\u308b\u5897\u8cc7\uff09\u3092\u5229\u7528\u3059\u308c\u3070\u3001<\/span><br \/>\n<span style=\"font-size: 12pt;\">\u540c\u69d8\u306e\u7d4c\u6e08\u52b9\u679c\u3092\u6301\u3064\u300c\u50b5\u52d9\u306e\u682a\u5f0f\u5316\u300d\u304c\u53ef\u80fd\u3067\u3059\u3002<\/span><br \/>\n<span style=\"font-size: 12pt;\">\u65e5\u672c\u306f\u6cd5\u7684\u30fb\u7a0e\u52d9\u30eb\u30fc\u30eb\u304c\u660e\u78ba\u5316\u3055\u308c\u3066\u3044\u308b\u305f\u3081\u3001\u5b9f\u884c\u4e0a\u306e\u30ea\u30b9\u30af\u304c\u5c11\u306a\u3044\u70b9\u3067\u7570\u306a\u308a\u307e\u3059\u3002<\/span><\/p>\n<hr \/>\n<h3><\/h3>\n<h2><span style=\"font-size: 14pt;\">3. \u7a0e\u52d9\u4e0a\u306e\u53d6\u308a\u6271\u3044<\/span><\/h2>\n<p><span style=\"font-size: 12pt;\">\u30df\u30e3\u30f3\u30de\u30fc\u3067\u306fDES\u306b\u95a2\u3059\u308b\u660e\u78ba\u306a\u7a0e\u52d9\u30ac\u30a4\u30c9\u30e9\u30a4\u30f3\u306f\u672a\u6574\u5099\u3067\u3059\u3002<\/span><br \/>\n<span style=\"font-size: 12pt;\">\u305d\u306e\u305f\u3081\u3001\u5b9f\u52d9\u4e0a\u306f\u300c\u8cc7\u672c\u53d6\u5f15Capital transaction\u300d\u306b\u5c5e\u3059\u305f\u3081\u3001\u4e00\u5207\u8ab2\u7a0e\u3055\u308c\u308b\u3053\u3068\u306f\u3042\u308a\u307e\u305b\u3093\u304c\u3001<\/span><br \/>\n<span style=\"font-size: 12pt;\">\u983b\u7e6b\u306b\u5229\u7528\u3055\u308c\u308b\u3088\u3046\u306b\u306a\u308c\u3070\u3001\u4ed6\u56fd\u306e\u3088\u3046\u306b\u300c\u50b5\u52d9\u6d88\u6ec5\u76ca\u300d\u7b49\u3068\u3057\u3066\u8ab2\u7a0e\u3055\u308c\u308b\u3088\u3046\u306b\u306a\u308b\u53ef\u80fd\u6027\u306f\u30bc\u30ed\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<\/span><\/p>\n<hr \/>\n<h3><\/h3>\n<h2><span style=\"font-size: 14pt;\">4. \u3069\u306e\u3088\u3046\u306a\u4f01\u696d\u304cDES\u3092\u5fc5\u8981\u3068\u3059\u308b\u304b<\/span><\/h2>\n<p><span style=\"font-size: 12pt;\">DES\u306f\u4ee5\u4e0b\u306e\u3088\u3046\u306a\u4f01\u696d\u306b\u6709\u52b9\u306a\u518d\u69cb\u6210\u624b\u6bb5\u3067\u3059\u3002<\/span><\/p>\n<ul>\n<li><span style=\"font-size: 12pt;\">\u50b5\u52d9\u8ca0\u62c5\u304c\u91cd\u304f\u3001\u8cc7\u672c\u6539\u5584\u3092\u56f3\u308a\u305f\u3044\u4f01\u696d<\/span><\/li>\n<li><span style=\"font-size: 12pt;\">\u89aa\u4f1a\u793e\u304b\u3089\u306e\u50b5\u6a29\u3092\u8cc7\u672c\u5316\u3057\u305f\u3044\u5916\u8cc7\u7cfb\u4f01\u696d<\/span><\/li>\n<li><span style=\"font-size: 12pt;\">\u518d\u5efa\u4e2d\u307e\u305f\u306f\u6210\u9577\u9014\u4e0a\u3067\u3001\u30ad\u30e3\u30c3\u30b7\u30e5\u30a2\u30a6\u30c8\u3092\u6291\u3048\u305f\u3044\u4f01\u696d<\/span><\/li>\n<li><span style=\"font-size: 12pt;\">\u73fe\u5730\u6cd5\u4eba\u3092\u9589\u9396\u3057\u305f\u3044\u304c\u3001\u50b5\u52d9\u8d85\u904e\u72b6\u614b\u3067\u958b\u59cb\u3067\u304d\u306a\u3044\u4f01\u696d\u300d<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 12pt;\">DES\u3092\u5c0e\u5165\u3059\u308b\u3053\u3068\u3067\u3001\u50b5\u52d9\u5727\u7e2e\u3068\u8cc7\u672c\u5f37\u5316\u3092\u540c\u6642\u306b\u5b9f\u73fe\u3067\u304d\u307e\u3059\u3002<\/span><\/p>\n<hr \/>\n<h3><\/h3>\n<h2><span style=\"font-size: 14pt;\">5. TCF\u306e\u30b5\u30dd\u30fc\u30c8\u5185\u5bb9<\/span><\/h2>\n<p><span style=\"font-size: 12pt;\">TCF\u306f\u3001\u30df\u30e3\u30f3\u30de\u30fc\u3067\u306eDES\u5c0e\u5165\u3092\u691c\u8a0e\u3059\u308b\u4f01\u696d\u306b\u5bfe\u3057\u3001<\/span><br \/>\n<span style=\"font-size: 12pt;\"><strong>\u30a2\u30c9\u30d0\u30a4\u30b6\u30ea\u30fc\u304b\u3089\u767b\u8a18\u5909\u66f4\u307e\u3067\u306e\u4e00\u8cab\u652f\u63f4<\/strong>\u3092\u63d0\u4f9b\u3057\u3066\u3044\u307e\u3059\u3002<\/span><\/p>\n<table class=\" cke_show_border\" style=\"width: 100%; height: 85px;\">\n<thead>\n<tr style=\"height: 17px;\">\n<th style=\"height: 17px;\"><span style=\"font-size: 12pt;\">\u30b5\u30fc\u30d3\u30b9<\/span><\/th>\n<th style=\"height: 17px;\"><span style=\"font-size: 12pt;\">\u5185\u5bb9<\/span><\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr style=\"height: 17px;\">\n<td style=\"height: 17px;\"><span style=\"font-size: 12pt;\"><strong>\u30a2\u30c9\u30d0\u30a4\u30b6\u30ea\u30fc<\/strong><\/span><\/td>\n<td style=\"height: 17px;\"><span style=\"font-size: 12pt;\">DES\u30b9\u30ad\u30fc\u30e0\u8a2d\u8a08\u3001\u50b5\u6a29\u8005\u30fb\u682a\u4e3b\u8abf\u6574\u652f\u63f4<\/span><\/td>\n<\/tr>\n<tr style=\"height: 17px;\">\n<td style=\"height: 17px;\"><span style=\"font-size: 12pt;\"><strong>\u5fc5\u8981\u66f8\u985e\u4f5c\u6210<\/strong><\/span><\/td>\n<td style=\"height: 17px;\"><span style=\"font-size: 12pt;\">\u5951\u7d04\u66f8\u3001\u5b9a\u6b3e\u5909\u66f4\u3001\u6c7a\u8b70\u66f8\u3001\u8a55\u4fa1\u66f8\u306e\u4f5c\u6210<\/span><\/td>\n<\/tr>\n<tr style=\"height: 17px;\">\n<td style=\"height: 17px;\"><span style=\"font-size: 12pt;\"><strong>\u767b\u8a18\u5909\u66f4\u696d\u52d9<\/strong><\/span><\/td>\n<td style=\"height: 17px;\"><span style=\"font-size: 12pt;\">DICA\u767b\u8a18\u5909\u66f4\u3001CBM\u30fbMIC\u7533\u8acb\u624b\u7d9a\u304d\u5bfe\u5fdc<\/span><\/td>\n<\/tr>\n<tr style=\"height: 17px;\">\n<td style=\"height: 17px;\"><span style=\"font-size: 12pt;\"><strong>\u7a0e\u52d9\u30fb\u4f1a\u8a08\u52a9\u8a00<\/strong><\/span><\/td>\n<td style=\"height: 17px;\"><span style=\"font-size: 12pt;\">IFRS\/\u30ed\u30fc\u30ab\u30eb\u57fa\u6e96\u6e96\u62e0\u306e\u4ed5\u8a33\u30fb\u7a0e\u52d9\u5206\u6790\u652f\u63f4<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-size: 12pt;\">TCF\u306f\u3001\u6cd5\u52d9\u30fb\u4f1a\u8a08\u30fb\u7a0e\u52d9\u306e\u5404\u5c02\u9580\u5bb6\u3068\u9023\u643a\u3057\u3001<\/span><br \/>\n<span style=\"font-size: 12pt;\">\u4f01\u696d\u304c\u5b89\u5fc3\u3057\u3066DES\u3092\u5b9f\u884c\u3067\u304d\u308b\u3088\u3046\u5b89\u5168\u304b\u3064\u5b9f\u52d9\u7684\u306a\u30b5\u30dd\u30fc\u30c8\u3092\u884c\u3063\u3066\u3044\u307e\u3059\u3002<\/span><\/p>\n<hr \/>\n<h3><\/h3>\n<h2><span style=\"font-size: 14pt;\">\u307e\u3068\u3081<\/span><\/h2>\n<p><span style=\"font-size: 12pt;\">\u30df\u30e3\u30f3\u30de\u30fc\u306b\u304a\u3051\u308bDES\u306f\u3001\u307e\u3060\u767a\u5c55\u9014\u4e0a\u306e\u5b9f\u52d9\u3067\u3059\u304c\u3001<\/span><br \/>\n<span style=\"font-size: 12pt;\">\u9069\u5207\u306b\u8a2d\u8a08\u3059\u308c\u3070\u4f01\u696d\u518d\u5efa\u306e\u6709\u52b9\u306a\u624b\u6bb5\u3068\u306a\u308a\u307e\u3059\u3002<\/span><br \/>\n<span style=\"font-size: 12pt;\">TCF\u306f\u3001\u6cd5\u5236\u5ea6\u306e\u7406\u89e3\u304b\u3089\u5b9f\u884c\u652f\u63f4\u307e\u3067\u3001<\/span><br \/>\n<span style=\"font-size: 12pt;\">\u4f01\u696d\u306e\u518d\u69cb\u6210\u3092\u30ef\u30f3\u30b9\u30c8\u30c3\u30d7\u3067\u30b5\u30dd\u30fc\u30c8\u3057\u3066\u3044\u307e\u3059\u3002<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"font-size: 10pt;\">\u7121\u6599\u4f1a\u54e1\u767b\u9332\u3092\u3055\u308c\u3066\u306a\u3044\u65b9\u306f\u3001\u4ee5\u4e0b\u306e\u30dc\u30bf\u30f3\u304b\u3089\u5fc5\u9808\u9805\u76ee\u3092\u5165\u529b\u5f8c\u3001<\/span><\/strong><br \/>\n<strong><span style=\"font-size: 10pt;\">\u30e1\u30fc\u30eb\u306b\u5c4a\u304f\u30d1\u30b9\u30ef\u30fc\u30c9\u3092\u5165\u529b\u3059\u308b\u3068\u30d6\u30ed\u30b0\u3092\u95b2\u89a7\u3067\u304d\u307e\u3059\u3002<\/span><\/strong><\/p>\n<p><a href=\"https:\/\/kuno-cpa.co.jp\/blog-password\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-2547 \" src=\"https:\/\/kuno-cpa.co.jp\/myanmar_blog\/wp-content\/uploads\/2024\/01\/d6c7bbc6151bb58a99f9f3c67f144f8d.png\" alt=\"\" width=\"262\" height=\"98\" srcset=\"https:\/\/kuno-cpa.co.jp\/myanmar_blog\/wp-content\/uploads\/2024\/01\/d6c7bbc6151bb58a99f9f3c67f144f8d.png 2603w, https:\/\/kuno-cpa.co.jp\/myanmar_blog\/wp-content\/uploads\/2024\/01\/d6c7bbc6151bb58a99f9f3c67f144f8d-300x112.png 300w, https:\/\/kuno-cpa.co.jp\/myanmar_blog\/wp-content\/uploads\/2024\/01\/d6c7bbc6151bb58a99f9f3c67f144f8d-1024x382.png 1024w, https:\/\/kuno-cpa.co.jp\/myanmar_blog\/wp-content\/uploads\/2024\/01\/d6c7bbc6151bb58a99f9f3c67f144f8d-768x287.png 768w, https:\/\/kuno-cpa.co.jp\/myanmar_blog\/wp-content\/uploads\/2024\/01\/d6c7bbc6151bb58a99f9f3c67f144f8d-1536x574.png 1536w, https:\/\/kuno-cpa.co.jp\/myanmar_blog\/wp-content\/uploads\/2024\/01\/d6c7bbc6151bb58a99f9f3c67f144f8d-2048x765.png 2048w\" sizes=\"(max-width: 262px) 100vw, 262px\" \/><\/a><\/p>\n<p><span style=\"font-size: 12pt;\">\u3053\u306e\u8a18\u4e8b\u306b\u5bfe\u3059\u308b\u3054\u8cea\u554f\u30fb\u305d\u306e\u4ed6\u30df\u30e3\u30f3\u30de\u30fc\u306b\u95a2\u3059\u308b\u60c5\u5831\u3078\u306e\u3054\u8cea\u554f\u7b49\u304c\u3054\u3056\u3044\u307e\u3057\u305f\u3089<br \/>\n<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u304a\u6c17\u8efd\u306b\u304a\u554f\u3044\u5408\u308f\u305b\u304f\u3060\u3055\u3044\u3002<\/span><\/p>\n<p><a href=\"https:\/\/kuno-cpa.co.jp\/contact-form\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-2884\" src=\"https:\/\/kuno-cpa.co.jp\/thailand_blog\/wp-content\/uploads\/2021\/10\/1569173093c7c3c9b08728bed429c801.jpg\" alt=\"\" width=\"276\" height=\"90\" \/><\/a><\/p>\n<p>\u203b\u753b\u50cf\u30af\u30ea\u30c3\u30af\u3067\u304a\u554f\u3044\u5408\u308f\u305b\u30da\u30fc\u30b8\u3078\u79fb\u52d5\u3057\u307e\u3059<\/p>\n<h2><\/h2>\n<h2>\u3010PR\u3011\u6d77\u5916\u6700\u65b0\u30d3\u30b8\u30cd\u30b9\u60c5\u5831\u30b5\u30a4\u30c8\u300cWiki Investment\u300d<\/h2>\n<p><a href=\"https:\/\/tcg-wiki-investment.com\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-2871\" src=\"https:\/\/kuno-cpa.co.jp\/thailand_blog\/wp-content\/uploads\/2021\/10\/unnamed-2.jpg\" alt=\"\" width=\"417\" height=\"144\" \/><\/a><br \/>\n\u203b\u753b\u50cf\u30af\u30ea\u30c3\u30af\u3067Wiki Investment\u30da\u30fc\u30b8\u3078\u79fb\u52d5\u3057\u307e\u3059<\/p>\n<p><span style=\"font-size: 12pt;\">\u9032\u51fa\u4e88\u5b9a\u306e\u56fd\u3001\u9032\u51fa\u3057\u3066\u3044\u308b\u56fd\u306e\u60c5\u5831\u672c\u5f53\u306b\u5206\u304b\u3063\u3066\u3044\u307e\u3059\u304b\uff1f<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u9032\u51fa\u3057\u3066\u30d3\u30b8\u30cd\u30b9\u3092\u6210\u529f\u3055\u305b\u308b\u305f\u3081\u306b\u306f\u3001<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u305d\u306e\u56fd\u306e\u77e5\u8b58\u3084\u5b9f\u60c5\u3092\u7406\u89e3\u3057\u3066\u304a\u304f\u3053\u3068\u304c\u5fc5\u9808\u3068\u306a\u3063\u3066\u304d\u307e\u3059\u3002<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u3057\u304b\u3057\u3001\u60c5\u5831\u304c\u6ea2\u308c\u304b\u3048\u3063\u3066\u3044\u308b\u793e\u4f1a\u3067\u306f<span style=\"text-decoration: underline; color: #ff6600;\"><strong>\u3069\u308c\u304c\u672c\u5f53\u306b\u4fe1\u983c\u3067\u304d\u308b\u60c5\u5831\u306a\u306e\u304b\uff1f<\/strong><\/span>\u304c<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u91cd\u8981\u306b\u306a\u308b\u8981\u7d20\u304b\u3068\u79c1\u306f\u601d\u3044\u307e\u3059\u3002<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u305d\u3093\u306a<\/span><span style=\"font-size: 12pt;\"><strong><span style=\"text-decoration: underline;\">\u300c\u4fe1\u983c\u3067\u304d\u308b\u60c5\u5831\u300d\u3092\u307e\u3068\u3081\u305f\u30b5\u30a4\u30c8<\/span><\/strong>\u304c\u3042\u308c\u3070\u3001\u3069\u308c\u3060\u3051\u697d\u306b\u60c5\u5831\u53ce\u96c6\u304c\u3067\u304d\u308b\u3060\u308d\u3046\u2026<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u305d\u306e\u601d\u3044\u304b\u3089\u4f5c\u6210\u3057\u305f\u30b5\u30a4\u30c8\u304c<span style=\"font-size: 14pt;\"><strong>\u300c<a href=\"https:\/\/tcg-wiki-investment.com\/\">Wiki Investment<\/a>\u300d<\/strong><\/span>\u3067\u3059\uff01!<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u5f0a\u793e\u6771\u4eac\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u30b0\u30eb\u30fc\u30d7\u306f\u6d77\u591620\u30ab\u56fd\u8d85\u306b\u62e0\u70b9\u3092\u6709\u3057\u3066\u304a\u308a\u3001<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u305d\u306e\u73fe\u5730\u99d0\u5728\u54e1\u304c\u6700\u65b0\u60c5\u5831\u3092\u300cWiki Investment\u300d\u306b\u307e\u3068\u3081\u3066\u3044\u307e\u3059\u3002<br \/>\n<\/span><a href=\"https:\/\/tcg-wiki-investment.com\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-3035 size-full\" src=\"https:\/\/kuno-cpa.co.jp\/thailand_blog\/wp-content\/uploads\/2023\/06\/1815d77ccebd1f8570493f8cebd69bee.jpg\" alt=\"\" width=\"260\" height=\"100\" \/><\/a><br \/>\n<span style=\"color: #4a4848;\"><em><span style=\"font-size: 14pt;\"><strong>\u3010Wiki Investment\u3067\u4f55\u304c\u3067\u304d\u308b\uff1f<\/strong><\/span><span style=\"font-size: 14pt;\"><strong>\u3011<\/strong><\/span><\/em><\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><strong>\u30fb\u73fe\u5730\u99d0\u5728\u54e1\u304c\u6bce\u9031<em><u>\u30db\u30c3\u30c8\u306a\u60c5\u5831<\/u><\/em>\u3092\u66f4\u65b0\u3059\u308b<span style=\"color: #ff0000;\"><em><u>News update<\/u><\/em><\/span><\/strong><\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><strong>\u30fb\u73fe\u5730\u306b\u6ede\u5728\u3059\u308b\u65b9\u304b\u3089\u3054\u8cea\u554f\u9802\u304f\u3001<br \/>\n<\/strong><strong>\u3000\u3088\u308a\u5b9f\u52d9\u306b\u6cbf\u3063\u305f\u5185\u5bb9\u304c\u8a18\u8f09\u3055\u308c\u3066\u3044\u308b<span style=\"color: #ff0000;\"><em><u>Q\uff06A\u96c6<\/u><\/em><\/span><\/strong><\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><strong>\u30fb\u5f53\u793e\u304c\u51fa\u7248\u3057\u3066\u3044\u308b\u6d77\u5916\u5b9f\u52d9\u672c\u3092<span style=\"color: #ff0000;\"><u>\u30c7\u30fc\u30bf\u30d9\u30fc\u30b9\u5316<\/u><\/span>\u3057\u305fTCG\u66f8\u7c4d<\/strong><\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u306a\u3069\u306e\u65b0\u6a5f\u80fd\u3082\u8ffd\u52a0\u3057\u307e\u3057\u305f\uff01<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2>\u7d4c\u55b6\u8005\u30fb\u5e79\u90e8\u5c64\u306e\u65b9\u306b\u304a\u30b9\u30b9\u30e1\u3057\u305f\u3044\u3010\u5168\u3066\u306e\u7d4c\u55b6\u8005\u3078\u8d08\u308bTCG\u30d6\u30ed\u30b0\u3011<\/h2>\n<p><a href=\"https:\/\/kuno-cpa.co.jp\/management-chusho\/\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-2886 alignnone\" src=\"https:\/\/kuno-cpa.co.jp\/thailand_blog\/wp-content\/uploads\/2021\/10\/06960aad783af41b2533946117f1a73f.jpg\" alt=\"\" width=\"400\" height=\"210\" \/><\/a><\/p>\n<p>\u203b\u753b\u50cf\u30af\u30ea\u30c3\u30af\u3067\u300cTCG\u30d6\u30ed\u30b0\u300d\u30da\u30fc\u30b8\u3078\u79fb\u52d5\u3057\u307e\u3059<\/p>\n<p><span style=\"font-size: 12pt;\">\u4f1a\u793e\u7d4c\u55b6\u3084\u90e8\u4e0b\u306e\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u3092\u3057\u3066\u3044\u308b\u3068\u3001\u69d8\u3005\u306a\u304a\u60a9\u307f\u3063\u3066\u51fa\u3066\u304d\u307e\u305b\u3093\u304b\uff1f<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u30fb<\/span><span style=\"font-size: 12pt;\">\u3069\u3046\u3057\u305f\u3089\u3001\u4f1a\u793e\u306f\u826f\u304f\u306a\u3063\u3066\u3044\u304f\u3093\u3060\u308d\u3046\u30fb\u30fb\u30fb<\/span><br \/>\n<span style=\"font-size: 12pt;\">\u30fb\u90e8\u4e0b\u304c\u80b2\u3063\u3066\u304f\u308c\u308b\u306b\u306f\u3069\u3046\u3057\u305f\u3089\u3044\u3044\u3093\u3060\u308d\u3046\u30fb\u30fb\u30fb<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">\u305d\u3046\u3044\u3063\u305f\u304a\u60a9\u307f\u3092\u3082\u3064\u7d4c\u55b6\u5c64\u306e\u7686\u69d8\u306b\u304a\u30b9\u30b9\u30e1\u3057\u3066\u3044\u308b\u30d6\u30ed\u30b0\u304c\u3054\u3056\u3044\u307e\u3059\u3002<\/span><br \/>\n<span style=\"font-size: 12pt;\">\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u30d5\u30a1\u30fc\u30e0\u3068\u3057\u3066\u3001\u3053\u308c\u307e\u3067\u591a\u304f\u306e\u4f01\u696d\u69d8\u3068\u95a2\u308f\u308a\u3001<br \/>\n\u8ab2\u984c\u3092\u89e3\u6c7a\u3057\u3066\u304d\u305f\u30b3\u30f3\u30b5\u30eb\u30bf\u30f3\u30c8\u9054\u306b\u3088\u308b<\/span><br \/>\n<span style=\"font-size: 12pt;\">\u7d4c\u55b6\u8ab2\u984c\u3084\u60a9\u307f\u306b\u3064\u3044\u3066\u89e3\u8aac\u3057\u305f\u30d6\u30ed\u30b0\u3092\u7121\u6599\u516c\u958b\u3057\u3066\u304a\u308a\u307e\u3059\u3002<\/span><\/p>\n<p><strong><span style=\"font-size: 12pt;\">\u3082\u3063\u3068\u4f1a\u793e\u3092\u826f\u304f\u3057\u305f\u3044\uff01\u3001\u30de\u30cd\u30b8\u30e1\u30f3\u30c8\u306b\u3064\u3044\u3066\u5b66\u3073\u305f\u3044\uff01<\/span><\/strong><\/p>\n<p><span style=\"font-size: 12pt;\">\u305d\u3046\u304a\u8003\u3048\u306e\u7686\u69d8\u306b\u304a\u30b9\u30b9\u30e1\u306e\u30b3\u30f3\u30c6\u30f3\u30c4\u3068\u306a\u308a\u307e\u3059\u306e\u3067\u3001\u305c\u3072\u3054\u89a7\u304f\u3060\u3055\u3044\uff01<\/span><\/p>\n<p><strong><a href=\"https:\/\/kuno-cpa.co.jp\/management-chusho\/\"><span style=\"font-size: 12pt;\">\u30fb\u300c\u5168\u3066\u306e\u7d4c\u55b6\u8005\u3078\u8d08\u308bTCG\u30d6\u30ed\u30b0\u300d\u306f\u3053\u3061\u3089\u304b\u3089<\/span><\/a><\/strong><\/p>\n<p><span style=\"font-size: 12pt;\">\u00a0<\/span><\/p>\n<hr \/>\n<p><span style=\"font-size: 12pt;\">\u682a\u5f0f\u4f1a\u793e\u6771\u4eac\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u30d5\u30a1\u30fc\u30e0\u3000\u30df\u30e3\u30f3\u30de\u30fc\u62e0\u70b9<\/span><br \/>\n<span style=\"font-size: 12pt;\">\u6e21\u8fba \u6643<\/span><\/p>\n<hr \/>\n<p><strong>\u203b\uff09\u8a18\u8f09\u3057\u307e\u3057\u305f\u5185\u5bb9\u306f\u3001\u4f5c\u6210\u6642\u70b9\u3067\u5f97\u3089\u308c\u308b\u60c5\u5831\u3092\u3082\u3068\u306b\u3001\u6700\u65b0\u306e\u6ce8\u610f\u3092\u6255\u3063\u3066\u4f5c\u6210\u3057\u3066\u304a\u308a\u307e\u3059\u304c\u3001\u305d\u306e\u5185\u5bb9\u306e\u6b63\u78ba\u6027\u53ca\u3073\u5b89\u5168\u6027\u3092\u4fdd\u969c\u3059\u308b\u3082\u306e\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u3002<br \/>\n\u8a72\u5f53\u60c5\u5831\u306b\u57fa\u3065\u3044\u3066\u88ab\u3063\u305f\u3044\u304b\u306a\u308b\u640d\u5bb3\u306b\u3064\u3044\u3066\u3082\u60c5\u5831\u63d0\u4f9b\u8005\u53ca\u3073\u5f53\u793e\uff08\u682a\u5f0f\u4f1a\u793e\u6771\u4eac\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u30d5\u30a1\u30fc\u30e0\u4e26\u3073\u306bTokyo Consulting Firm Co., Ltd.\uff09\u306f\u4e00\u5207\u306e\u8cac\u4efb\u3092\u8ca0\u3046\u3053\u3068\u306f\u3042\u308a\u307e\u305b\u3093\u306e\u3067\u3054\u4e86\u627f\u304f\u3060\u3055\u3044\u3002<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"\u7686\u3055\u3093\u3001\u3053\u3093\u306b\u3061\u306f\uff01 \u6771\u4eac\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u30b0\u30eb\u30fc\u30d7\u3001\u30df\u30e3\u30f3\u30de\u30fc\u62e0\u70b9\u306e\u6e21\u8fba \u6643\u3067\u3059\uff01 \u3044\u3064\u3082\u30d6\u30ed\u30b0\u3092\u304a\u8aad\u307f\u3044\u305f\u3060\u304d\u3042\u308a\u304c\u3068\u3046\u3054\u3056\u3044\u307e\u3059\u3002 \u3055\u3066\u3001\u4eca\u56de\u306f\u300c\u30df\u30e3\u30f3\u30de\u30fc\u306b\u304a\u3051\u308bDebt-Equity Swap\uff08DES\uff09\u3068\u306f\uff1f\u300d\u306b 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