Jトラスト（8508）
Contents
1.2. 15 0 8 0 3 1 3 2
3. Sh aredd Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 300 2015 2 28 565 2015 4 1 2015 4 24
4. 1 4 sSh afedt 1 ch lp http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9
5. 2014 6 2013 12 125 975 2013 6 52 019 2014 9 SC SC
6. 5 000 LPS 1 200 2015 3 2014 11 10
7. 1 KC KC ETC KC KC 2 KC KC hcs 75ykEc5aa
8. 358 2 225 K C 2 330 1 635
9. SR Inc SR Inc Shared Researcn SR Inc
10. 2014 3 1 Sh aredd Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 2 632 2 232
11. Sh ared Wesearch http www sharedresearch jpD Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 6 100 2 000 10 1 10 1 5 096 6 2015 1 21
12. 2014 11 2011 8 KC 2014 3 NUCS 2015 1 KC KC KC NUCS NUCS KC
13. Sh aredd Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 09 3 10 3 11 3 12 3 13 3 1 075 2 041 2 019 71 213 296 2 457 2 535 1 460 1 195 209 66 87 1 484 3 575 SR 2012 3 KC 2013 3
14. 316 5 608 3 10 1 2 2 918 1 142 2 585 2 7 9 http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 6
15. 2013 3 6 634 2014 3 5 135 2014 3 12 3 2013 3 6 868 2014 3 3 091
16. 2014 6 2014 6 25 KC 2015 1 5 KC KC SBPS
17. 2010 3 2000 2011 12 19
18. SBI Sh aredd Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 2008 12 2 6 2013 12 3 9
19. M amp A Sh aredd Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 STEP1 KC Yah SB fa Un STEP2 NUCG NUCS
20. 2014 8 25 300 2014 3 2 71 364 38 0 12 061 292 5 Sh ared Wesearch http www sharedresearch jpD
21. SR 2008 TOB 2011 KC 2012 2013 Weaknesses M amp A
22. 1 8358 2012 Sh ared GYcsea ch lp http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 6
23. 0 2000
24. 4 7 7 9 2010 7 49 09 44 09 2011 6 39 09 2014 4 34 9 2013 12 89 Korea Federation of Saving Banks 2011 16 2012 8 2013 2 2000
25. 2013 10 J TRUST ASIA PTE LTD J TA 2013 12 Bank Mayapada International Tbk PT 2014 3 15
26. Sh aredd Mesearch http www sharedresearch jpD Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 37 309 991 09 1 932 39 241 3 419 43 233 27 9 ES sSh ared 1 ch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Resea
27. KLab J GCA
28. 2010 3 4 108 6 819 2009 3 17 421 2012 3 34 500 16 489 29 444 KC 37 000 2012 3 12 424
29. 16 597 22 3 951 280 0 13 214 373 0 3 046 336 2013 6 2014 3
30. LCD LCD ASEAN LCD JTrust International LTD 310 475 29 59 1 0 3 93 7 805 1 83 8 2014 9 22 http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Resea
31. PT Bank Mutiara Tbk G L J 8508 SR Research Report 2015 4 9 30 000 000 36 1 120 30 000 000 36 1 120 5 3 1 10 36 90 1 3 69 97 087 379 8 2 2015 2 17
32. SR 2014 6 KC 2008 SR
33. 3 642 14 2 187 36 3 4 977 85 2 1 319 31
34. 1 300 2 016 2 400 K C 1 000 1 3 00 2 900 5 982 2 459 1 661 3 754 1 144
35. NUCS NUCS KC M amp A 2014 3 11 2
36. SC SC JT 2014 6 JT Savings Bank Co Ltd 999 100 2006 12 28 3 1 0 1 6 868 55 450 35 806 9 510 8 680 5 928 1183 258 26 1 0 1 5 217
37. 2009 3 3 883 2014 3 43 760 2010 3 43 9 2014 3 13 19 Sh aredd Mesearch http www sharedresearch jpD Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 2009 3 2014 3 26 9 2012 3 2013 3 2012 3 KC 29 444 2013 3 21 424
38. 7 2013 10 4 543 3 280 000 100 0 2014 3 11 2013 3 4 237 15 664 4 521 649 500 10 25 3096 TAIYO FUND L P 9 4596 NLHD 6 28 3 3296 J P Morgan Whitefriars Inc London Branch P 2 50 2 44 2 23 TAIYO HANEI FUND L P 2 149
39. 2015 1 29 2015 2 26 1 0 33 1 86 85 1 28 66 102 456 817 7 89 lt D 10 2015 3 2015 2 2 2015 2 2
40. Sh aredd Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 2008 3 2013 3 5 2014 3 2013 7 976 2014 3 2015 3 M amp A 2015 3
41. SR http www sharedresearch D 09 3 3 380 990 28 236 6 343 1 313 773 100 1 442 5 950 36 627 1 629 188 188 1 858 1 312 1 806 1 364 3 183 39 811 702 2 768 3 470 21 2 147 21 608 27 246 413 413 4 470 171 664 5 718 32 964 4 392 2 129 392 6 846 3 883 503 10 3 7 163 1 497 18 039 3 825 5 407 485 397 156 2 289 3 544 35 714 1 079 430 131 561 2 776 503 2 635 644 2 285 37 999 783 4 520 5 303 553 3 048 3 184 11 305 11 368 11 368 3 840 238 241 15 687 26 993 4 470 2 205 4 358 31 11 005 16 671 9 508 11 3 14 846 1 900 11 725 1 443 4 008 518 565 139 985 1 836 34 293 1 166 344 111 455 2 286 1 043 1 382 1 947 3 569 37 862 1 291 3 980 5 271 1 062 3 359 572 10 264 10 814 10 814 2 382 203 236 13 635 23 900 4 496 2 230 7 235 52 14 13 961 16 085 1 239 12 3 10 362 2 119 27 713 65 024 2 310 506 1 314 154 4 274 6 813 106 963 5 095 805 315 1 120 8 487 3 602 7 723 4 366 10 582 117 546 1 776 5 576 7 352 254 10 172 26 217 43 995 13 670 13 670 9 711 290 408 24 079 6
42. 42 919 Sharedd Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved 8508 SR Research Report 2015 4 9 100 PTE LTD 100 100 100 J 100 100
43. 6 314 1 414 608 1 742 564 4 017 3 3 2012 3 24 508 44 9 5 539 28 1 5 486 26 9
44. 2011 2009 2012 2014 1 BIS KC 5 000
45. 2009 3 2010 3 2012 3 2011 8 KC 29 444 http www sharedresearch jD Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 2013 3 KC 2014 3
46. sSh ared 1 ch http Www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 4 1 1990 1990 3 3 2 2000 10 2003 3 12 2006 2007 3 2013 3 2 7 2000 4 1
47. 70 SC SC 2007 2008 1 20 1 080 2013 12 2007 12 3 SC SC 2008 2 SC
48. 00 3 01 3 02 3 03 3 04 3 05 3 06 3 95 948 106 263 119 341 120 074 117 169 116 720 117 403 10 8 12 3 0 6 2 4 0 4 0 6 07 3 08 3 09 3 10 3 11 3 12 3 13 3 108 601 89 659 72 853 53 497 36 600 30 792 26 995 7 5 17 4 18 79 6 26 6 31 69 15 9 12 39 SR 2006 12 2010 6 3 1
49. 2014 8 13 Sh aredd Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 2011 2014 3
50. 2001 2 33 2005 2006
51. 13 351 2 6 11 145 16 3 M amp A 1 060 2 951 25 300 24 29 11 435 7 0 10 231
52. 999 2013 6 2006 12 28 SC 9 843 SC 5 261 Sh aredd Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 i 15 104 1 0 1 2014 6 16 2014 9 2014 5 2014 5 12 2014 3 2014 3 M amp A
53. 29 29 20 09 15 09 20 0 29 2 sSh afedt 1 ch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 6 di 2006 1 a
54. PT Bank Mutiara Tbk 10 5 231 103 066 2014 12 31 ASEAN J 2015 2 3 LCD Global Investments LTD JTRUST ASIA PTE LTD 29 59 LCD Global Investments LTD LCD AF Global PTE LTD
55. Sh aredd Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 479 _ SW Strengths Weaknesses Strengths M amp A 2014 3 1 4 SR
56. 2014 3 1 1 50 9 000 2014 3 29 69 6 2011 8 KC KC 2014 3 NUCS TNUCS 13 08
57. 2014 3 2014 8 3 154 941 219 59 9 405 231 1 NPL 2 770 9 394 29 5 3 936 2 193 2015 3 2 2015 3 2 31 979 10 9
58. 10 162 17 0 810 79 1 KC 1 000 8 826 34 9 2014 3 4
59. 2009 2008 TOB 2009 2012 2009 3 2010 9 2011 8 KC KC 97 76 2012 3 TFK
60. http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 2008 3 2013 3 M amp A 976 3
61. 2014 3 12 392 2 944 KC 98 54 100 100 100 NUCS 100 100 100
62. 48 489 115 3 2013 1 2013 6 2014 3 1 2013 3 55 683 127 2 12 005 116 7 13 704 149 8 13 309 61 4 aa 2012 3 KC 29 444 Sh ared Wesearch http www sharedresearch jpD Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015
63. Sh aredd Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 00 12 01 12 02 12 03 12 04 12 05 12 06 12 46 644 43 566 41 805 39 084 36 155 34 569 34 148 6 6 4 0 6 5 7 596 4 496 1 296 07 12 08 12 09 12 10 12 11 12 12 12 13 12 32 867 32 563 32 530 32 061 32 400 34 367 37 035 3 8 0 9 0 1 1 4 1 1 6 1 7 8 SR
64. Sh aredd Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 a SC SC 709 S C
65. sSh ared 1 ch lp http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 10 3 11 3 12 3 13 3 16 541 16 908 24 508 55 683 61 926 234 49 2 296 44 996 127 296 11 2 29 L132 4 539 20 786 26 339 13 243 11 776 19 969 34 897 35 586 80 1 69 6 81 5 62 7 57 5 9 077 7 451 14 429 22 892 21 841 54 990 44 1 58 9 41 1 35 3 4 165 4 324 5 539 12 005 13 745 1635 4 3 8 28 1 116 7 14 5 25 290 25 690 22 6 21 6 22 2 196 44 234 1 979 1 010 59 45 28 279 1 404 4 303 4 323 5 486 13 704 13 351 1353 796 0 5 26 9 149 8 2 69 26 0 25 6 22 49 0 24 6 21 6 877 385 29 919 645 1 902 632 94 86 528 3 564 440 1 372 703 581 85 9 7 29 790 2 096 4 296 4 108 3 233 34 500 13 309 11 145 1242 5 21 39 6 967 1 61 496 16 3 24 8 19 1 140 8 23 9 18 0
66. 2012 4 Sh aredd Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 2012 6 2012 7 NLHD JT 2012 10 2013 7 976 2013 10 PTE LTD 2014 3 KJI amp 2014 11 2014
67. NUCS NUCS NUCS KC 2015 3 KC KC TNUCS 404 350 KC 54 2013 7
68. 2015 3 1 300 1 700 400 1 300 1 300 1 700 2014 3 1
69. Sh aredd Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 EL SR http www sharedresearch D 09 3 4 946 54 596 3 772 32 8 76 3 1 173 224 996 23 7 10 3 16 541 234 49 14 634 288 0
70. 2014 3 9 496 KC 2014 11 10 shared esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 09 3 10 3 11 3 12 3 13 3 14 3 EPE 8 4 743 4 594 9 614 16 458 21 007 2 446 2 792 5 104 12 457 16 735 19 832 2 455 536 9 699
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72. 2008 2009 2010 2011 2012 2013 25 826 27 675 27 892 31 470 34 891 39 449 7 2 0 8 12 8 10 9 13 1 SR 12 1 2 3
73. 2000 1 8316 2012 4 SMBC UFJ 1 8306
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76. 2015 2 17 35 JMB 35 JMB 35 2015
77. 3 2014 6 2014 9 SC 2013 12 125 975 SC 2013 6 52 019 SC 70 O Ul N
78. SR Inc SR Inc SR Inc SR Inc SR tnc 3 31 12 03 5834 8787 http www sharedresearch jp Email info sharedresearch jp Sh aredd Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserv
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80. 865 417 238 2009 3 214 63 238 30 2009 3 174 2010 3 2010 3 38 912 1 863 3 460 37 214 99 0 1 963 1 962 SR 2012 3 2011 8 KC
81. 36 902 17 3 44 373 27 5 2014 10 10 Sh ared Wesearch http www sharedresearch jpD Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 6 3 472 70 6 358 139 4 20
82. Sh aredd Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 100 2012 3 2014 3 12 219 4 407 KC 1009 2012 10 15 ATM
83. 34 99 29 39 109 15 13 3 14 3 EPE 48 210 46 701 1 222 12 392 SR Sh ared GYcsea ch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 M amp A M am
84. 13 309 5 830 2014 3 11 145 2013 7 97 907 2013 3 113 335 184 230 sSh ared 1 ch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 10 3 11 3 12 3 13 3 e 1 6 819 9 234 16 489 9 378 16 828 2 34 310 12 424 36 764 23 169 FCF 1 2 6 853 8 924 28 913 46 142 6 341 10 067 908 24 165 2 441 74 464 SR
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89. 1 500 M amp A 2014 M amp A 2014 3 2015 3 2014 3 4 Sh aredd Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 2014 8
90. 2014 11 2015 3 M amp A 2014 6 16 SC SC 2014 6 25 2015 1 5 KC KC NUCS NUCS KC 2014 7 30 2014 3
91. DIC TOKAI
92. M amp A 2015 3 2 3 M amp A SR 2012 HK
93. 2013 3 2014 3 3 M amp A Shared esearch lp http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 2014 3 21 396 19 096 2009 2012 2012 10
94. 294 2 262 395 2 005 5 222 17 1 1 011 57 1 Sh aredd Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 6 KC
95. KJ1I 230 141 370 2014 3 3 28 2014 3 419 KJI 117 77 194 2014 3 3 44 2014 3 62 1 2014 3 3 78 2014 3 164 KJI 10 20 30 2014 3 3 80 2014 3 145 22 993 1 008 11 685 1 023 11 292 563
96. 3 54 PP http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 2014 6 16 SC SC SC SC
97. 2014 3 61 926 13 745 13 351 11 145 1 109 66 2014 2 2014 2 14 KJI KJI 6 2013 10 11 650 875 000 100 0 2014 3 11 2013 5 10 047 25 590 7 858 Sh ared Wesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 1 660 1 276 2014 2 12
98. KC 370 252 83 168 KC 68 73 KC 235 28 KC 294 2012 3 345 967 1 342 KC 88 289 5 211
99. TAIYO RPMI FUND L P 1 19 SR 2014 9 http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 2015 3 1 10 http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 03 4330 9100 1977 3 18 HP http www jt corp co jp IR IR Jtrust_ir jt corp co Jp http www sharedresearch jp 105 0001 1 7 12 2 1998 9 8 3 TIR http www jt corp co jp ir IR 03 4330 9100 Copyright C
100. 1 6 904 Sh ared Wesearch http www sharedresearch jpD Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 41 924 956 9 2013 6 46 701 3 1 2014 3 3 44 017 8 3 6 079 47 5 5 608 57 1 2 5
101. 2 M amp A sSh ared 1 ch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 Pl
102. 2009 3 2012 3 KC 2009 3 2014 3 4 6 2012 10 2013 3 73 194
103. LPS LPS 2014 4 J Trust Asia Pte Ltd 2014 7 2014 7 30
104. PT Bank Mutiara Tbk PT Bank Mutiara Tbk 2014 9 12 2014 11 20 99 0 Sh aredd Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 a 10 2 231 920 3 2 2 30 26832 2704 4 609 142 2 121 1 191 10 527 2 344 1 310 10 224 2014 11 19 1 0 009 0 0 0 793 99 000 39 700
105. 2015 3 2015 3 834 2015 3 2 500 2015 3 13 2015 3 17 2015 3 2016 3 30 SC SC 2014 11 99 096 409 100
106. 34 500 967 0 2 465 522 KC Sh aredd Mesearch http www sharedresearch jpD Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 8 620 679 288 536 KC 5 571 38 7 303 131
107. 44 370 415 KC 500 130 2012 3 TFK 252 http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 KC 2012 3 635 62 159 2012 3 726 70 KC 498 KC 44 KC 84 40
108. A amp P A amp P A B 2015 1 21 2011 12 28 TFK A amp P A 202 1 597 1 862 2011 12 28 5 A amp
109. 10 677 SR 14 055 693 1 957 4 397 539 3 815 SR Shared esearch lp http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 2009 2009 3 2014 3 8 4 2014 3 87 2013 3 2012 3 51 778
110. 15 096 18 0 09 3 10 3 11 3 12 3 13 3 14 3 EPE 25 663 16 256 9 504 20 903 12 025 6 733 1 772 2 672 2 224 1 322 1 405 1 242 27 435 18 928 11 728 22 226 13 431 7 976 96 4 277 2 801 3 479 4 964 2 812 SR Shared 6 CondT ch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 6 2014 3 20 496
111. SR UmWY4 09 3 10 3 11 3 12 3 13 3 14 3 2 028 2 853 2 848 6 926 6 937 4 450 1 222 616 281 224 164 22 616 9 236 10 016 7 463 SR Shared esearch lp http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 2014 3 KC 2015 1 KC KC
112. 2014 8 13 2014 11 PT Bank Mutiara Tbk 99 0 http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 SC SC M amp A 2015 3 2
113. 2013 Sh ared Wesearch http www sharedresearch jpD Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 2014 3 61 926 11 2 2013 3 13 745 14 5
114. 750 2013 1 299 2013 3 482 407 517 731 EEEE 2 211 2 821 75 033 40 766 40 766 SR esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 2014 3 201 4 3 KJI
115. KC 4 010 16 894 2013 3 36 764 40 766 2014 3 23 169 KJI 14 662 http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 3 713 5 395 2014 3 74 464
116. 40 766 2013 7 96 602 2014 3 2013 3 70 095 2009 3 2012 3 2012 10 2013 1 2013 3 48 210
117. JMB 100 3 10 Sh ared Wesearch http www sharedresearch jpD Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 6 1 35 2 45 2 2015 2 12 2015 3 3 2015 3 3 PT Bank Mutiara Tbk PT Bank J Trust Indonesia Tbk 2015 3 30
118. 35 0 2012 3 40 814 20 59 40 839 23 0 2014 3 8 Sh aredd Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 6 4 975 16 0 496 83 8
119. 62 13 1 200 2014 3 31 2014 11 19 1 0 009 2008 11 2008 11 Lembaga Penjamin Simpanan LPS LPS 2014 3 LPS Sh aredd Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 20 1 800 1 900 2
120. SR 2009 3 4 946 54 5 240 943 5 296 854 8 306 206 0 1 556 1 293 811 159 2008 3 81 http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4
121. 9 3 2014 3 1 3 321 6 079 KC
122. 15 616 13 9 1 427 83 1 KC 2014 3 8 634 33 8 2014 3 4 35 896 15 4 KC
123. 45 725 26 8 2014 12 10 4 760 22 9 414 9 4 11 525 9 5 439 51 1 Sh aredd Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserve
124. 409 100 1 196 201 5 4 20 JTA PT JT INVESTMENTS INDONESIA OD 4 000 000 USD 480 JTRUST ASIA PTE LTD 99 0 Pak DIDIE W SOEWONDHO 1 0 2015 4 8 1USD 120 12 2015 3 30
125. 67 8 KC 29 444 2 236 09 3 10 3 11 3 12 3 13 3 13 374 17 157 16 397 42 467 4 946 16 541 16 908 24 508 55 683 121 2 23 796 1 596 49 596 31 196 119 2 172 4 448 2 453 10 000 240 4 165 4 324 5 539 12 005 101 796 91 896 2 896 125 896 20 196 121 2 261 4 435 2 503 10 329 296 4 303 4 323 5 486 13 704 144 696 90 3 2 596 119 296 32 796 120 2 075 3 668 1 705 10 041 306 4 108 3 233 34 500 13 309 155 0 98 0 11 9 1923 596 32 596 SR 72 620 61 926 14 796 16 103 13 745 14 696 17 319 13 351 22 996 15 030 11 145 25 896 SR
126. 2015 5 31 2015 3 9 2016 3 14 2015 4 1 2016 3 1 700
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128. A F Sh aredd Mesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 LCD 29 5 LCD A F LCD LCD M amp A
129. JT Sh ared Wesearch http www sharedresearch jpD Copyright C Shared Research Inc All Rights Reserved Shared esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 3 iAm minm moaAm 10 926 10 874 10 738 151 631 125 9 5 118 86 18 653 18 185 12 117 al ss 9 762 0 0 009 21 600 000 100 00 2015 3 9 TRUST ASIA PTE LTD Group Lease PCL GL GL
130. 2010 3 10 067 2009 3 2012 3 24 165 KC 37 000 16 894 23 596 2014 3 74 464 23 124 2013 7 96 602 sSh ared 1 ch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 479 _ 1970
131. 32 5 249 Sh ared esearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 2014 8 13 2015 3 3 amp http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 SR 14 545 47 49 8 441 3 296 58 0 6 216 50 2 42 7 2 225 44 9 15 3 2 262 41 6 15 6 2 005 49 8 13 8 14 3 2Q 14 300 2 0 7 978 9 0 55 8 7 971 50 0 55 796 7 99 8 0 0 601 3Q 15 172 6 3 8 237 18 4 54 3 4 389 26 9 28 9 3 847 15 3 2Q 17 909 15 928 1
132. 2014 6 16 SC 2015 3 30 SC JT KJ1 SC SC
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134. Shared Research Report 2015 4 9 J 8508 sr_inquiries sharedresearch jp J 8508 SR Research Report 2015 4 9 ee 4 or 4 et 13 oo 27 27 PP 39 ss 45 46 es 51 55
135. Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 5 912 27 6 3 591 1 601 4 500 1 300 400 1 300 3 000 2015 3 1 2015 3 1 15 928 9 5
136. 11 26 2012 9 3 SF 2013 12 27 2014 11 26 2015 5 31 2 850 142 2014 3 3 2 951 2014 11 20
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138. 4 9 6 33 384 67 59 12 293 120 7 2012 3 KC 780 1 484 3 510 6 098 4 288 60 6 270 105 7 52 2 793 45 8 336 303 2012 10
139. 41 170 20 59 36 050 8 5 2013 9 7 3 871 29 8 457 191 9 Sh ared Wesearch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 6 12 73
140. 88 5 1 557 32 7 9 4 4 292 1208 596 3 888 90 6 340 30 3 7 9 11 3 16 908 2 2 13 326 8 9 78 8 3 166 103 3 18 7 12 3 1 916 7 8 6 050 35 5 5 571 38 7 92 1 131 67 8 2 2 303 5 0 13 3 55 683 127 29 33 186 69 396 59 696 4 285 62 0 7 7 13 484 24 2 2 793 45 8 5 0 12 647 109 0 12 293 120 7 97 296 270 106 1 2 1 250 2 0 336 Copyright C Shared Research Inc All Rights Reserved 14 3 61 926 11 2 25 193 24 1 40 7 4 970 16 0 8 0 16 510 22 4 26 7 13 214 373 1 21 3 16 000 26 59 11 435 7 0 71 5 496 83 7 3 1 951 280 4 5 9 3 046 19 0 J 8508 SR Research Report 2015 4 9 2014 3 40 7 71 596 09 3 10 3 11 3 12 3 13 3 14 3 990 1 497 1 900 2 119 1 656 2 369 12 2 51 2 26 9 11 5 21 8 43 1 28 236 18 039 11 725 27 713 18 227 49 242 317 6 36 1 35 0 136 4 34 2 170 2 6 343 3 825 1 443 65 024 48 133 39 776 6 39 796 62 3 4406 29
141. 9 6 2010 3 16 541 234 4 4 165 2009 3 240 4 303 2009 3 296 4 108 2009 3 306 2009 3 4 181 4 775 1 222 550 3 888 2009 3 159 2011 3 16 908 2 2 4 324 3 8 4 323 0 5 3 233 21 3
142. P B 152 9 846 2 080 2011 12 28 5 2012 6 19 A amp P 2015 1 19
143. Shared Research Inc All Rights Reserved SR Research Report 2015 4 9 J 8508 SR Research Report 2015 4 9 SR MG VOYAGE GROUP SBS
144. 14 3 7 697 12 2 399 49 4 9 817 92 4 3 318 1 510 2014 3
145. 2 39 4 898 518 9 2013 3 2 2013 3 7 915 536 4 2 078 278
146. 2 40 058 43 760 2 847 6 819 9 234 16 489 9 378 16 828 1 997 34 310 12 424 36 764 23 169 871 10 067 908 24 165 2 441 74 464 RO A 1 2 10 6 8 5 44 4 7 9 4 0 RO E 4 6 46 1 26 0 111 4 23 8 9 3 17 2 29 0 36 9 42 1 32 4 55 0 SR esearch lt http www sharedresearch D Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 479 _ 2015 4 9 JTRUST ASIA PTE LTD JTA 2014 11 20 PT Bank Mutiara Tbk 99 0
147. 22 072 33 194 40 839 131 340 513 801 1 751 2 377 SR SR 2010 6 3 1 2006 1
148. 6 26 0 17 496 1 313 5 407 4 008 2 310 2 529 2 527 311 8 25 9 42 496 9 5 0 1 1 858 2 776 2 286 8 487 4 686 3 951 1573 9 49 4 17 7 271 3 44 896 15 796 2 455 7 536 9 699 22 072 33 194 40 839 37 2 207 0 28 7 127 6 50 496 23 096 SR 09 3 10 3 11 3 12 3 13 3 96 4 277 2 801 3 479 4 964 2 812 1 293 6 068 5 623 3 358 6 868 3 091 1 556 2 106 2 669 2 740 2 403 3 018 1 222 616 9 236 10 016 7 463 131 340 513 801 1 751 2 377 536 6 634 5 135 SR 2014 3 1 7 11 29 29 6 9 4 12 0
149. 6 051 19 2 9 5 12 2 10 930 8 188 9 348 39 0 3 0 17 290 61 0 51 4 58 2 3 265 8 546 11 623 56 1 37 5 45 8 18 2 53 7 72 4 7 666 358 2 274 5 9 1703 8 25 4 3 947 42 896 7 743 294 2 165 29 4 1133 0 26 0 1 441 43 296 8 560 395 3 359 73 5 1928 49 9 5 47 896 3Q 16 141 6 4 9 061 10 0 56 1 9 749 122 19 60 496 689 2 143 13 396 2 612 16 2 15 3 69 4 69 291 11 9 2 656 80 7 3 8 2 738 79 5 4 0 11 239 0 8 16 2 EAI SR 1Q 36 892 616 2 046 546 708 1 247 703 4 222 2 431 14 545 http www sharedresearch jp 14 3 pe cte 4Q 37 43 65 788 680 693 677 762 961 1 923 1 833 1 659 555 561 713 598 519 1 264 1 139 1 189 1 559 1 326 1 835 1 103 4 493 3 947 3 846 2 200 2 622 5 137 14 300 15 171 17 908 Copyright C Shared Research Inc All Rights Reserved 1Q 48 3 043 710 1 622 650 309 1 174 1 846 3 631 2 194 15 928 15 3 2Q 3Q 46 47 937 549 701 1 128 1 548 1 491 665 677
150. 8 074 4 530 2 265 41 377 103 1 300 49 471 21 022 10 660 SR Research Report 2015 4 9 13 3 62 140 1 656 18 227 48 210 48 133 2 529 656 788 1 691 184 16 622 11 574 189 262 10 836 5 761 1 003 6 764 4 686 11 625 4 469 11 842 29 443 218 706 1 500 8 071 9 571 829 73 194 7 124 8 753 99 471 30 487 30 487 12 052 4 017 1 783 48 339 147 810 4 625 3 966 54 320 140 7 130 70 895 40 058 22 082 Copyright C Shared Research Inc All Rights Reserved 132 235 2 369 49 242 46 701 39 776 2 527 798 10 787 2 570 3 013 11 511 11 657 289 872 12 309 5 694 2 939 8 633 3 951 24 466 4 498 23 919 44 863 334 736 2 173 25 258 27 431 1 034 77 142 4 055 9 242 118 904 1 875 14 454 16 329 9 382 441 5 449 31 601 150 505 53 578 52 920 64 626 117 6 848 184 230 43 760 88 475 J 8508 SR Research Report 2015 4 9 M amp A M amp A 2009 3 2012 3 M amp A 2009 3 2009 3 1 9042
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153. ared GYcsea ch http www sharedresearch jp Copyright C Shared Research Inc All Rights Reserved J 8508 SR Research Report 2015 4 9 3 1 0 1 2014 9 2014 9 19 LCD Global Investments LTD J TRUST ASIA PTE LTD LCD Global Investments LTD MLDavid Lum LCD LCD LCD 2013 10 7 LCD 29 5 LCD
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155. ed
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157. rch Report 2015 4 9 2015 3 14 3 15 3 28 845 33 081 61 926 31 979 37 312 69 291 12 426 13 913 26 339 14 442 16 419 19 167 35 586 17 536 56 9 57 9 57 596 54 896 14 187 7 654 21 841 20 169 49 2 23 1 35 3 63 1 2 232 11 513 13 745 2 632 5 288 2 656 7 79 34 8 22 2 8 2 14 2 3 8 1 661 11 690 13 351 2 459 5 197 2 738 5 8 35 3 21 6 7 7 13 996 4 0 1 144 10 001 11 145 3 754 14 993 11 239 4 0 30 2 18 0 11 79 40 2 16 2 SR 2014 8 13 2015 3 M amp A 2015 3
158. rch Report 2015 4 9 6 LCD 2015 3 24 306 35 736 4 841 117 1 83 8 LCD 2014 9 12 PT Bank Mutiara Tbk Lembaga Penjamin Simpanan LPS 2014 8 21 LPS PT Bank Mutiara TbK 2014 9 16 LPS 62 13 1 200 2014 3 0 009 2008 11 LPS
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