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1. 128
2. 2001 2007 2008 2009 2010 2011 2012H HHHHH HH HH 1 150 1 010 910 830 820 760 750 10 9926 88 129 73 13 HHHH HH 3 440 2510 2350 2210 1780 1690 1450 00 64 60 195 5196 142 HHHH HH HH 4 510 4270 4210 3850 3790 3852 3912 OOD 21 14 86 16 16 16 HHHH HH 5 150 4310 4430 5000 4680 3910 3 650 HH 05 28 129 64 165 66 HHHHHHH HH HH 5 46
3. s Shared Research http Www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 4680 SR Research Report 2015 2 26 2015 3 2014 11 2016 15 3
4. 2014 3 32 396 40
5. DIC KLab TOKAIL
6. 1 000 6 20 1 6
7. sShared 6Qesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 4680 SR Research Report 2015 2 26 SR 10 5 10 880
8. HHHHHHHHHHHH SR we Shar ed Gesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 4680 SR Research Report 2015 2 26
9. 10 sShared 6Qesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved amp w 4680 SR Research Report 2015 2 26
10. http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 4680 SR Research Report 2015 2 26 2009 3 1 3 2011 3 4 120 100 80 4 1 60 40 20 0 H 0 H 1 1 1
11. SR Inc SR Inc Shared Researcnh SR Inc
12. IHHHHHH OOOOO 2009 3 2010 3 2011 3 2012 3 2013 3 20140 3H HH 3 0 3 7 4 9 3 1 5 6 1 2 HH 12 2 13 4 7 6 2 1 1 3 HH HHHHHHHHHHHHHHHHHHHHHHHHHHH HsRHHH HHHHHHH 2009 3 2013 3 HH HHHHHHSRIHHH 2014 3 10 09
13. JASDAQ2157 2012 9 2 16 2 T T BOWL 40 2014 3 2014 3
14. 8 29 11 3 5 3 10 79 0 9 3 7 10 2 0 2 4 3 UFO 4680 SR Research Report 2015 2 26 80 SR
15. 3 u 79 11 15 9 88 u 2014 10 1 u 6 8 u 500 1 100 1 200 24 u 1 300 400 u 8 1 u u u
16. 2014 3 2013 70 1 100 750 9 2 5 350 4 800 550 u 7 100 1 1 1 450 2 Brunswick AMF Bowling 400 50 u u
17. 2010 3 2014 3 amp 4680 SR Research Report 2015 2 26 1960
18. 2009 3 0 9 2010 3 SadQeweami http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 2011 3 2012 3HH 3 4 2 4 7 5 10 2 5 8 2013 3 2014 3 0 4680 SR Research Report 2015 2 26 HH HHHHHHSRIHHH HHLSRHHH 2014 3 3 296 gt Shared csearch http www sharedresearch jp Copyright C 2013 Shared Researc
19. eSsearch 4680 11 3H SR Research Report 2015 2 26 12 3 13 3D 14030 1503D OD HH 31 000 35 224 6 715 8 748 2613 84 303 11 416 6 929 12 673 0 7 5 4 11 2 2 4 10 5 2 7 5 1 11 7 36 8 41 8 8 0 10 4 3 1 100 13 5 8 2 15 0 11 3H 32 400 36 400 8 200 9 400 3 000 89 568 16 036 11 481 2 781 4 5 3 3 22 1 7 5 14 8 6 2 40 5 65 7 36 2 40 6 9 2 10 5 3 3 100 17 9 12 8 3 1 12 3H HH 29 700 34 500 8 300 10 300 2 900 85 903 11 565 8 217 601 8 3 5 2 1 2 9 6 3 3 4 1 27 9 28 4 78 4 34 6 40 2 9 7 12 0 3 4 100 13 5 9 6 0 7 HHHH 27 200 24900 34 900 37900 8 400 8 700 10 900 11400 2700 2 600 84 272 85 500 10 088 8 800 7818 8 000 19 681 4500 8 4 8596 1 296 8 6 1 2 3 6 5 8 4 6 6 9 3 7 1 9 1 5 12 8 12 8 4 9 2 3 32 3 29 1 41 4 44 3 10 0 10 2 12 9 13 3 3 2 3 0 100 100 12 0
20. 2013 11 2013 10 2013 11 2014 4 7 2014 4 982 10
21. 4 000 900
22. HHHHH 2009 3 2010 3 2011 3 2012 3 2013H 3 20140 3H 0 0 5 8 7 0 5 4 5 8 4 8 4 9 9 8 8 1 2 7 3 1 3 HHHH HH HHHHH HHSRHHH 2009 3 2013 3 ot et St a yo LL EN SH UE UMl HH HHHHHHSRH HH Shared csearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved Shared 4680 SR Research Report 2015 2 26 2014 3 41 5
23. lll 10H3HH 11H3HH 12H3HH 13H3HH 14H3HH Don HH HH HH HH HH HHHHHHHHHHHHHH 22 175 22 418 32 852 26 418 20 456 HHHHHHHHHHHHHHH 35 616 23 563 24 036 4 371 46 611 FCF 13 441 1 145 56 888 30 789 67 067 HHUHHHH HHHHHHHHH 24 881 44551 45 981 34 564 66 200 HHHHHHHHHHH 6 065 20 351 6 144 1 264 23 725 HHHHH B 14 358 18 824 19 702 18 960 15 928 HHHHHH 0D 134 226 196 174 82 HIHHHHHHH 2 603 2 488 780 361 2 361 HHHH CE 33 787 6 259 2 587 5 241 3 752 HH HH ATB CD E 16 101 10 500 23 843 14 796 13 828 HHHHHHHHSRHHH HHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH 1 2
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26. 1 100 500 190 250 12 673 1 173 27 280 26 500 363 sShared 6Qesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved amp w ai cm cm Shared Research http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved we s 4680 SR Researc
27. 2016 3 1 600 20 1 3 30 4 6 SR 10 000 4680 SR Research Report 2015 2 26 2015 3 2014 10
28. 2014 4 1 7 980 982 CM 80 TV LINE LINE 1 500 TV 48 20 2 1
29. 2014 3 3 648 2014 2 10 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 89 3 334 13 19 14 421 1 316
30. 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 2012 3 2012 5 11 2012 3 6 2 89 568 1 7 1 ONE PIECE
31. 2010 3 177 2011 3 2012 3 2013 3 397 s Shared Research http Www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 4680 SR Research Report 2015 2 26 HHHHH HHH 10 3 11H3HH 12H3HH 13H3HH 14 H3HH 15H3HH HHHH HHH 82 113 84 303 89 568 85 903 84 272 85
32. 2013 11 1 5 4 1 1 150 10 1 98 4 Shared Giesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 8 4680 SR Research Report 2015 2 26
33. sShared 6Qesearch http www sharedresearchjp Copyright C 2013 Shared Research Inc All Rights Reserved 8 w 4680 SR Research Report 2015 2 26 HHHH HHHHH 1 H 3HH 4 6HH ODO 360 360 360 340 340 340 60 60 60 440 440 440 OO 1 200 1 200 1 200 36 36 4 150 77 79 17 10 11 77 18 19 HHHH 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 HHHHHHHHHHHHHHH 16 9 10 3 7 8 SRI 3 4
34. 2013 11 2014 3 5 000 4680 SR Research Report 2015 2 26 7 9 9 9 3 19 6 2 0 5 3 09 2 3 1 3 x Z 6 39 3 8
35. 4680 SR Research Report 2015 2 26 1998 8 2013 7 2013 7 31 1996 8
36. 4 u3 u 10 8 sShared 6Qesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 8 w 4680 SR Research Report 2015 2 26 88 2 2014 11 1
37. SR 1 6460 1 7832 1 9684 1 9766
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41. TVCM u 10 2 3
42. 2013 3 2013 3 27 2012 9 2012 9 21 2012 3 2012 3 30
43. 2014 11 2016 3 2016 3 2015 3 10 000 SR 3 SW Strengths Weaknesses Shared Yesearch http Www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved e 4680 SR Researc
44. 1993 3 C EO 1997 8 1998 12 1999 9 amp 2014 8 25 2014 8 25 IC 2007 12 IC 2014 3 2015 3 2013 5 2013 5 23 s Shared Research http Www sharedresearch jp Copyright
45. 6 1 5 13 4 2 1 3 259 1 3 2 4 3
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51. TIR 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 2015 2 26 590 0985 4 45 1 072 224 5115 1 1980 12 25 1997 8 28 HP http wwwr round1 co jp index html 3 IR IR IR http www round1 co jD company ir index html IR 072 224 5115 lt Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc Al
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56. u TVCM SNS 1 7 8 2015 3 2015 3 2 2
57. 2 1 6 7 6 09 3 8 2 79 1 2 4 2 49 1 5 2 6
58. 2 4 5 0 4 3 19 1 1 24 0 15 7 7 5 7 5 Co cam 2011 9 2012 3 110 109 1 2011 3 x 1 314 2011 3 1 275 39 79 SR 40 5 16 036 5 710
59. 2 2 9 19 4 9 21 274 1 700 2013 10 2 2014 3 20 2014 3 11 400 2015 3
60. 41 849 0 1 3 745 23 7 3 407 5 79 2 305 10 740 CM PR LINE 2015 3 2 114 684 5
61. JASDAQ4712 1 2681
62. s Shared GYesearch http Www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 4680 SR Research Report 2015 2 26 2015 2014 2 2014 2 12 210 334 3 2014 1 2014 2 18 2014 3
63. 61 168 1 0 3 469 31 79 3 185 4 5 1 826 14 421 2015 3 85 500 1 5 8 800 12 8 8 000 2 3 4 500 19 681 2014 10 1
64. 2013 10 8 5 10 7 2013 10 2 11 8 20 11 7 980 8 1 180 280 10
65. 20 165 2 8 2 256 2 4 1 642 63 1 631 43 9 1 1 x Z 6 2
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67. 400 29 290 4 500 19 681 2015 3 27 000 2014 3 36 800 100 2014 3 11 600 2015 3 2010 2016 3 1 1 20 2014 3 1
68. 37 8 69 10 5 1 3 1 7 1 3 1 8 5 7 5 1 98 0 87 0 93 196 2 2014 4 1 7 2
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70. 1 400 2016 3 2004 2010 s Shared Research http Www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 4680 SR Research Report 2015 2 26 2014 1 2013 11 29 2014 1 0 6 3 12 139 3 13 29
71. 2 59 4 796 8 8 12 1 8 21 1 0 6 3 1 13 2 9 2 3 2 15 5 12 11 10 11 1 6 CM
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73. u 200 300 u 2016 3 200 2011 2 16 SR SR 2014 3 2014 3 36 800 11 600 2015 3
74. 2012 3 27 sShared 6Qesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 4680 SR Research Report 2015 2 26 1961 CEO 1956 1975 2009 2014
75. 2 3 2016 SR 2014 11 2014 2 2015 2 2014 4 800 2 200 1 596 79 2014 3 1
76. 138 980 2014 3 11 642 2014 3 21 183 57 531 19 681 1 905 nii 100300 110300 120300 130300 140300 OO HH HH HH HH HH HHHHHHHH HH 79 453 95 453 95 453 95 453 95 453 HHHHHHH HH 163 166 168 170 175 HHHH HH 46 8 136 8 29 2 6 3 206 6 HHHHHHHH HHH HHHH HHHHHHH 1 080 0 829 4 838 4 826 1 603 8 1 HH 20 0 20 0 20 0 20 0 20 0 HHHHHH HHHHHHHIH 1 1 1 1 1 HHHHHH 46 8 136 8 29 2 6 3 206 6 HHHHHHH 1 080 0 829 4 838 4 826 1 603 8 HHHHHHH 20 0 20 0 20 0 20 0 20 0 HH HHHUHHSRHHH HHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH Shared Gxcsear ch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 4680 SR Research Report 2015 2 26 5 1 20 2014 3 1 20 1 20
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79. 4680 SR Research Report 2015 2 26 1Q 2Q 30 4Q 10 2Q 30 6 II II HHH 20 165 21 706 18715 23 686 19 694 22 155 19 319 71 5 85500 HHI 28 379 19 05 23 21 32 05 HHHHH 2665 3051 632 5375 1559 2995 210 HH 14 268 407 17 415 18 668 HHHHHH 132 141 349 227 79 135 11 HHH 409 398 465 362 406 403 486 HHH 33 25 18 236 07 13 45 HHHHHHHH 20 18 25 15 21 18 25 HHHH 2256 2652 168 5012 1152 2593 276 34 7 8800 HHI 24 295 725 04 4899 22 239 HHHHH 112 122 09 212 58 117 103 HHHH 1642 1970 278 4484 830 2577 222 35 4 8 000 HHH 631 297 249 495 308 26 HHHHH 81 91 189 42 116 94 HHHH 631 11 371 3 681 5260 778 1527 479 36 5 4500 HHI 439 i 233 HHHHH 31 40 69 53 HH HHHHHHSRHHH HHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH HHHHHHH 1 4 6 4 5 2 7 9
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81. 5 8 0 7 5 4 7 3 6 9 5 9 5 99 8
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83. 20 sShared 6Qesearch http www sharedresearchjp Copyright C 2013 Shared Research Inc All Rights Reserved amp w Shared Yesearch http Www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved e 4680 SR Research Report 2015 2 26 2010 8 u 5 2016 3 u u
84. SR 2002 3 2003 3 2002 SPC SPC 2007 3 SPC SPC 2013 3 55 2011 3 Round One Entertainment Inc a sShared eSsearch http Www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved Shared Ye
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93. 8 3 3 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
94. 7 3 2 2015 3 2014 10 17 2014 12 20 2014 10 3 2014 10 30 2014 3 sShared 6Qesearch http www sharedresearchjp Copyright C 2013 Shared Research Inc All Rights Reserve
95. 9 2 10 99 113 111 HHHHH 2015 3H 4 5 6H 7 8H 9 10H 11 12 1 2 3H HHHHIHIHHH 6 408 7 024 5 913 6 134 9 318 6 321 5 793 6 071 6 960 7 808 HHHIH 2001 2064 1688 1686 2649 1756 1624 1660 2 045 2 431 HHHHHHHH 2686 3070 2652 2894 3955 2898 2 661 2777 3067 3240 HHHH 641 711 625 650 927 645 569 595 775 777 HHHHH 878 956 745 700 1531 805 730 834 849 1112 HH 199 221 201 202 254 216 207 203 223 242 HHHH HHH 3 3 0 1 6 09 0 6 8 4 4 4 3 79 9 9 4 49 9 2 HHHHH 13 2 14 7 20 4 12 3 2 4 16 8 9 596 3 9 8 69 10 2 HHHHHHIHH 3 4 11 196 3 29 6 4 12 9 5 2 11 9 16 7 2 59 10 5 HHHH 16 65 04 18 10 6 23 5 79 109 49 5 7 HHHHH 18 42 09 49 198 86 93 218 36 7 3 OD 12 2 9 6 12 8926 7 6 3 99 6 79 2 0 5 8 9 09 2 8 HHHHHH HHH 3 3 0 19 6 0 0 6 8 4 4 49 2 09 7 3 6 4 10 9 HHHHH 13 2 14 7 20 4926 12 3 2 4 16 896 10 6 5 6 10 09 11 5 HHHH HHH 34 11 196 3 2 64 12 9 5 2 100 13 496 4 99 12 8 HHHH 16 65 04 18 106 2 3 4 5 9 0 6 5 7 2 HHHHH 18 42 09 49 198 8 6 5 496 18 2 6 4 9 3 OD 12 2 9 6 12 8 7 6 3 9 6 7 1 7 53 8 7 2 5 5 6 7 8 9 10H 11 12 1 2 HHHHIIHHH 6 625 7 015 6 291 6 168 8 597 6
96. http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 4680 SR Research Report 2015 2 26 55 88 2014 10 2014 12 3 35 5 3 7
97. 4 1 3 1 3 3 10 12 2015 3 3 2015 2 10 2015 3 3 3 61 168 1 0 3 469 31 7 3 185 4 596 1 826 14 421 CM PR LINE 2014 10 2014 11
98. 8 2 2014 11 32 88
99. 3 2007 3 2010 3 2012 3 http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 4680 SR Research Report 2015 2 26 2011 3 s Shar ed 6Qesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w lt Shared Yesearch http Www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved e 4680 SR Research Report 2015 2 26
100. 2 3 3 980 2014 3 12 2015 3 1 100 10 15 2014 4
101. 3 6 7 6 7 7 8 4 7 8 10 0 7 1 19
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103. 5 ee 5 6 7 2015 3 i 16 R RN 19 23 PR 23 PE 29 SW Strengths Weaknesses 32 ENNEERNDSEE EE83 SSR RSE SPEEDHERREENRPSSS Ss 33 NN 37 Mi 39 es 39 OO 53 55 57 SR NR 59 59 amp i 59 RW OO 62 S NC 62 2 2 62 NE SPP 63 64 4680 SR Research Report 2015 2 26 2014 3 29 2015 3 3
104. SR Inc SR Inc SR Tnc SR Tnc SR Tnc http www sharedresearch jp Email info sharedresearch jp 3 31 12 03 5834 8787 Shared Qiesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved
105. 10 60 639 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 amp 4680 SR Research Report 2015 2 26 WilliWill MD 20 84 DO HH 12 24 HHHHHHHUHHHHHHHHHHH HHH 8 52 HHHHHHHHHHHHHHHH HHHHH 5 50 HHHUHHHHLHHHHHHHHHHHH HHH 4 25 HHHIHHHHLHHHHHHHHHHHH HH 9 2 05 Mellon Bank Treaty Clients Omnibus 1 97 CBNY DFA Intl Srrell Cap Value Portfolio 1 96 Evergreen 1 74 Goldmgn Sachs amp Co Reg 1 57 60 63 HH HHHHHHSRIHHH IR CEO
106. 12 000 11 6 14 79 9 000 8 1 10 8 7 800 19 6 9 69 4 100 3 196 4 9 3 400 15 4 4 196 2010 3 2010 3 2010 2 4680 SR Research Report 2015 2 26 2010 5 2011 3 SR 2011 3 SR 2010 3 2010 3
107. 10 4 0 9 238 47 235 43 84 200 70 1 2 2014 3 365 6 10 7 8 18
108. 150 2 3 1 6 7 4 5 6 7 8 9 2014 3 10 11 12 2016 3 10 30 40 s Shared Research http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w s Shared Research http Www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w 4680 SR Research Report 2015 2 26 2014 4 2014 40
109. 2014 1 2014 1 27 2013 8 2013 8 29 2009 3 2013 8 2
110. C 2013 Shared Research Inc All Rights Reserved w 4680 SR Research Report 2015 2 26 2005 10 2014 3 2015 3 2014 3 2014 3 25 2008 3
111. 10 3 9 3 9 4 23 4 5 3 13 3 14 3 150300 2015 3 2015 3 OOOO 10 3 1 HHH HH HHH 30 787 HHHHH HIHH 33 405 HHHH 6 037 HH HHH 8 963 HH 2 918 OO 82 113 OO 12 031 OO 7 848 HHHH 3 396 HH HHH 8 7 HHHHH HIHH 3 7 HHHH 6 2 HH HHH 3 4 HH H 18 3 HHH HHH 5 3 OOOO HHH 11 6 OOOO HHH 19 9 OOD HHH 14 6 HH HHH 37 5 HHHHH HIHH 40 7 HHHH 7 4 HHHHH 10 9 HHH 3 6 HHH HHH 100 HHHH 14 7 HHHH 9 6 HHHH 4 19 10 3 1 OOO 4 0 HHHHH HIHH 9 8 HHHH 13 19 HH HHH 9 2 3 99 HI HHH 7 7 HHHHHHHHHHHH 89 HHHHHHHHHH 105 HHHHHHHHH 11 HHHH 0 HHHHHHHHHSRHHH HHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH HHHHHHHH http Www sharedresearch jp HHHHHHHH 3 4 4 5 14 5 2 2 105 109 4 0 1 1 15 8 7 5 1 3 1 7 109 110 1 0 11 39 10 7 3 7 0 29 6 6 9 0 110 113 4 1 10 59 9 6 1 7 6 6 1 8 2 1 5 1 2 1 9 9 33 4 2 0 0 114 114 114 118 1 4 0 0 Copyright C 2013 Shared Research Inc All Rights Reserved 4680 SR Research Report 2015 2 26 2014 11 7 2015 3 2015 3 85 500
112. 500 oop 68 302 71 030 71 779 72 575 72 549 73 900 HHHHH 13 810 13 273 17 789 13 328 11 723 11 600 HHHHHHHHHH 1 779 1 856 1 753 1 762 1 634 1 600 HHHH 12 031 11 416 16 036 11 565 10 088 10 000 HHHHH 357 511 296 388 315 HHHHH 4540 4999 4850 3736 2 585 HHHH 7 848 6 929 11 481 8 217 7 818 9 000 oop 40 0 373 434 2 515 oon 1 822 27 280 5 710 7 387 34 059 HHHHHHHHHHH 6 065 20 351 6 144 1 264 23 725 7 800 HHHI 2668 7677 3 362 663 4044 2800 HHHHH 3 396 12 673 2 781 601 19 681 5 000 HHHHHH 16 8 15 7 19 9 15 5 13 9 13 6 HHHHH 14 7 13 5 17 99 13 5 12 09 11 7 HHHHH 9 6 8 2 12 8 9 6 9 3 10 5 HHHHHH 41 15 0 3 1 0 7 23 4 5 8 HHHHHHHH 2 2 2 2 2 0 2 1 1 9 1 9 HHH HHH 5 3 2 7 62 4 1 1 9 1 5 HHHH HHH 11 6 5 1 40 5 27 9 12 8 09 HHHH HHH 19 9 11 7 65 7 28 4 49 15 1 HHHHH HHH 14 6 se 78 4 8 HH HHHHHHSRHHH HHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 4680 HHHHHHHHH 10H 3 0 SR Research Report 2015 2 26 11 3 120 DD 1D 3D 14D DD HHHH HH HH HH HH HH HHH HHHH 91 000 86 000 88 000 90 000 86 000 HHH HH 82 113 84 303 89 568 85 903 84 272 HHHHHHHHHH 9 8 2 0 1 8 4 6 2 0 HHHH HHHH 16 500 14 000 12 500 14 100 11 6
113. Shared Gesearch SR Research Report 2015 2 26 4680 sr_inquiries Gsharedresearch jp Shared Wesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved e 4680 SR Research Report 2015 2 26 3 i 4
114. 0 6780 5950 5150 4760 4660 4600 HH 30 122 13496 76 219 13 HHHH HH 2 160 2200 2270 2900 3000 1910 oo 2 7 32 278 3496 363 SR 2014 3 111 e gt Shared csearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 4680 SR Research Report 2015 2 26 3 1 10 1980
115. 00 HHHH HH 12 031 11 416 16 036 11 565 10 088 HHHHHHHHHH 27 1 18 5 28 3 18 0 13 0 HHHH HHHH 13 000 9 000 80 000 10 000 8 400 HHHH HH 7848 6 929 11 481 8 217 7 818 HHHHHHHHHH 39 6 23 0 85 6 17 8 6 9 HHHH HHHH 6 300 2 500 3 300 1 000 7 500 HHHH HH 3396 12 673 2 781 601 19681 HHHHHHHHHH 46 1 15 7 39 9 HHHHHHHHSRHHH HHHHHHHHHHHHHHHHHHHHHH HHHHHHHHHHHHHHHHHI http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 4680 SR Research Report 2015 2 26 HHHHH 10 3 1 1120 3D 13 3D 14D DD OO HHHHHH 30 815 22 773 29 487 25 324 25 172 HHH 361 414 557 605 648 HHH HH 1 141 1 347 1 422 1 185 1 121 HHH 6 846 12 637 3764 4 143 4 099 HHHH 39 163 37 171 35 230 31 257 31 040 HHHHHH 202 298 202 599 179 317 160 065 72 919 HHHHH 169 231 209 177 143 HHHHHHHHHHH 9 609 12 104 13 479 14 717 23 033 HHHH 212 076 214 934 193 005 174 960 96 097 Oooo 251 240 252 106 228 236 206 217 127 138 HHH 156 189 211 196 257 HHHHHHH 25 569 36 289 19 621 31 147 8 789 HHH 13 516 15 007 15 857 16 003 15 460 HHHH 39 241 51 485 35 689 47 346 24 506 HHHHHHH 113 318 99 870 91 293 59 077 28 025 HHH 13 051 21 722 21 370 21 080 17 074 oo 126 369 121 592 112 663
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117. 100 19 97 89 81 4 90 9 85 29 95 1 96 0 6 2 3 1 6 1 5 s Shared GYesearch http Www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 4680 SR Research Report 2015 2 26 1 1 1 0 0 8 2015 3 85 500 85 500 8 800 10 000 8 000 9 000
118. 110 914 29 487 81 427 2012 3 96 900 2011 3 2011 5 11 2011 3 2 7 84 303 2010 3 11 2011 3 4 5 19 11 416 2 2 11 79 6 929 12 673 27 280 21 451 3 173 1 796
119. 3 3 4 3 4 3 6 6 7 4 7 2020 3 sShared 6Qesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved amp w EK 5 4680 SR Research Report 2015 2 26 2014 3 1 2013 8 7 2014 3 1
120. 611 5 586 5 522 7 284 8 596 6 146 8 548 HHHH 2 306 2 420 2 122 1922 2 713 2110 1795 1727 2 237 2 708 1965 2 908 HHHHHHIHH 2598 2763 2571 2 719 3502 2756 2379 2380 3145 3621 2580 3239 HIHH 630 667 627 639 838 631 538 537 816 824 601 812 HHHHH 862 918 738 668 1278 881 668 684 880 1205 802 1355 227 245 231 219 264 231 203 192 204 235 197 231 HHHH HHH 2 2 7 19 0 2 6 7 1 9 5 5 8 5 3 1 2 9 0 6 4 09 2 1 HHHHH 49 7 392 6 3 996 12 396 7 296 12 196 10 9 7 29 6 7 796 13 296 14 596 7 5 HHHHHHHH 4 7 114 0 5 2 7 1 7 2 0 8 6 29 99 92 2 5 11 1 HIHH 3 296 2 5 3 2 5 2 18 8 0 90 2 3 2 0 32 03 5 3 OOOOD 10 7 04 102 6 7 14 3 7 0 3 8 9 16 9 15 5 59 6 0 II 3 596 47 2 4 7 5 429 7 5 8 2 8 296 13 29 11 9 15 3 11 9 HHHHHH oh 7 1 8 9 2 0 8 8 3 7 7 7 10 7 5 5 1 8 0 6 4 0 2 1 HHHHH 86 899 5 7 14 1 8 6 14 2 13 2 9 5 9 0 13 2 14 5 7 5 OOODOOOD 10 0 13 9 2 5 5 496 099 48 11 3 5 99 86 92 2 5 11 1 HHHH 17 04 10 7 2 0 196 10 3 11 3 49 04 32 03 5 3 HHHHH 39 04 102 6 79 149 3 7 0 3 8 9 16 99 15 5 5 9 6 0 7 496 7 09 46 9 99 6 59 10 1 10 9 10 3 13 6 11 9 15 3 11 9 OOOOOOOOSRD OO DOOOOOOOOOOOOOOODOOOOODODOOOOODOOOOOOOOOOODOO jesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved
121. 80 157 45 099 HHHH 165 611 173 078 148 353 127 503 69 606 HHHH 86 177 79 950 80 825 79 519 57 443 HH HHHH 548 922 943 805 88 HHHH 85 629 79 028 79 882 78 714 57 531 HH 85 629 79 028 79 882 78 714 57 531 HHHHHHH 251 240 252 106 228 236 206 217 127 138 HHHH 1 346 1 572 1 768 1 594 1 512 HHHHHHH 138 887 136 159 110914 90 224 36 814 HHHHHH 108 072 113 386 81 427 64 900 11 642 HHHHHH HHHH 1 59 5 0 1 2 0 3 118 HHHHHHHH HHH 4 3 15 4 3 5 0 8 289 HHHHHH 0 3 0 3 04 04 0 7 HHHHH 59 9 52 7 50 5 61 2 64 7 HHHHHH 6 1 6 9 7 2 6 0 5 6 HHHH 79 49 45 0 84 2 54 8 105 4 HHHH 99 8 72 2 98 7 66 0 126 7 HHHHHH 34 19 31 3 35 0 38 2 45 3 HHHLHHHH HHHHH 126 2 143 59 101 9 82 5 20 2 OMNOOODOOOOSRD OO HHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 4680 SR Research Report 2015 2 26 2014 3 2010 3 138 887 2014 3 36 814 2010 3 108 072
122. H 36 40 47 55 93 105 108 109 111 111 HHHHHH 62 65 66 66 66 OD HHH 55 57 58 57 57 HHH 7 8 8 9 9 HHHHH 43 43 43 45 45 OD HHH 43 43 43 44 44 HHH 1 1 HH 1 1 2 3 HHHHHH 1 1 2 3 1 1 2 3 HHHHHHHSRHHH http 7Www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved amp 4680 SR Research Report 2015 2 26 SR 16 14 12 10 Oo MM PP Oo 98 3 3 15 1 11 7 1 1 8 7 6 5 10 5 97 3 98 3 99 3 00 3 0 3 02 3 03 3 04H 3 05 3 06 3 0 3 08 3 09 3 10 3 11 3 12 3 13 3 14 3 70 80 3 203 4 6 123 7 94 16 99 10 39 7 89
123. HHHUHHUHHHHHHHHHHHHHHH Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 4680 SR Research Report 2015 2 26 2015 2 26 2015 3 3 2015 3 3 2015 2 10 2015 3 3 2015 1 2015 3 3 2015 1 9 2014 12 HP 2014 12 8 2014 11 3 amp lt Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved w Shared1 4680 SR Research Report 2015 2 26 1
124. d w 4680 SR Research Report 2015 2 26 096 4 2 9 6 10 5 6 6 1 79 2 19 1 89 2 1 5 1 3 3 9 9 2 2 2015 3 118 2014 3 2015 3 3 3 2014 3 2015 3 800
125. h Inc All Rights Reserved 4680 SR Research Report 2015 2 26 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 HHHHHH 10 3 1 3 120 3 1 3D 14D DD HH 11 4 1 4 1 HH 0 0 0 1 0 HHHHH 105 109 110 113 114 HHHH 69 69 63 58 21 HHH
126. h Report 2015 2 26 HH 10 3 1 3 12H3 13H3H 14H3H 15 DD HHHH HHHIH 30 787 31 000 32 400 29 700 27 200 26 400 HHHHHHHIH 33 405 35 224 36 400 34500 34 900 36500 HHHH 6037 6715 8200 8300 8400 8800 HHHIH 8963 8748 9400 10 300 10 900 11 000 HHH 2918 2613 3000 2 900 2700 2700 HHH 82 113 84 303 89 568 85 903 84272 85 500 HH 53 27 62 41 19 15 HHHHH 13 810 13 273 17 789 13 328 11723 HH 101 39 340 251 120 HHHHHH 168 157 199 155 139 HHHH 12 031 11 416 16 036 11 565 10 088 8 800 HHH 116 51 405 279 128 128 HHHHH 147 135 179 135 120 103 HHHH 7 848 6 929 11 481 8 217 7 818 8 000 HH 199 117 6 657 284 49 23 HHHHHHH 96 82 128 96 93 94 HHHHH 3 396 12 673 2 781 601 19 681 4 500 HHH 146 6 HHHIH 41 8 31 07 234 53 ODO HHHHHH HHHHHHHH 46 8 136 8 292 63 206 6 472 HHHHHH 10800 829 4 838 4 826 1 603 8 HHHHHHH 200 200 200 200 200 200 HHHHHHHHHH MO HHHHHHHHHHHHHHI 22 175 22 418 32 852 26 418 20 456 HHHHHHHHHHHHHHI 35616 23563 24036 4371 46 611 HHHHHHHHHHHHHHH 24 881 4551 45981 34564 66200 HHHHHHHHHHH 1 5 5 0 1 2 03 118 HHHHHHHHLHHH 43 154 35 08 289 HHHHHH 34 1 31 3 35 0 38 2 45 3 HHHHH HHHHH 1262 1435 1019 82 5 20 2 HHHHHH 03 03 04 04 07 HH HHHHHHSRHHH HHHHHHHHHHHHHHHHHHHHH
127. h Report 2015 2 26 2010 3 2010 5 14 2010 3 82 113 5 3 12 031 11 6 7 848 19 99 3 396 14 69 98 9 83 000 91 89 13 100 87 29 9 000 82 89 4 100 2010 3 4 830 6 49 821 5 3 14 800 3 59 17 9 13 800 10 1 16 89 1 700 1 19 2 19 1 800 1 29 2 2 13 100 3 8 15 8
128. l Rights Reserved w 4680 SR Research Report 2015 2 26 SR
129. research jp Copyright C 2013 Shared Research Inc All Rights Reserved w 4680 SR Research Report 2015 2 26 3 4 915 11 582 2014 12 113 111 10 89 11 3 de
130. search http Www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved e i 4680 SR Research Report 2015 2 26 SW Strengths Weaknesses Strengths

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