ෘ↢ഭ௛⑼ቇ⎇ⓥ⾌⵬ഥ㊄㧔ሶߤ߽ኅᐸ✚ว⎇ⓥ੐ᬺ㧕✚᜝⎇ⓥႎ๔ᦠ
ਇ⢒∝ᴦ≮ߦ㑐ߔࠆౣ⹏ଔߣᣂߚߥࠆᴦ≮ᴺߩ㐿⊒ߦ㑐ߔࠆ⎇ⓥ

⎇ⓥઍ⴫⠪ 㥲⮮ ṑ ንጊᄢቇᄢቇ㒮කቇ⮎ቇ⎇ⓥㇱ↥⑼ᇚੱ⑼ቇᢎ᝼
⎇ⓥⷐᣦ
ᧄ⎇ⓥ⃰ߢਇ⢒∝  ⚵ࠍ⊓㍳ߒ‫ޔ‬ሶችᄸᒻ‫⁁↲ޔ‬⣼ᯏ⢻ᬌᩏ‫ޔ‬ᄦᇚᨴ⦡૕ᬌᩏ‫ޔ‬:++ ࿃ሶ‫ޔ‬2TQVGKP5‫ޔ‬2TQVGKP% ࠍߔߴߡᬌᩏߒߡ޿ࠆ  ଀ߢ࡝ࠬࠢ࿃ሶࠍᬌ⸛ߒ
ߚ‫߇଀  ߚ߹ޕ‬ᅧᆼߒߚߩߢ‫ޔ‬ฦ࡝ࠬࠢ࿃ሶᲤߩᚑഞ₸‫ޔ‬ฦᴦ≮Ფߩᚑഞ₸‫ޔ‬ᴦ≮⟲ߣήᴦ≮⟲ߢᲧセߒߚߣߎࠈ‫ޔ‬ሶችᒻᘒ⇣Ᏹ‫⁁↲ޔ‬⣼ᯏ⢻⇣Ᏹ‫ޔ‬2TQVGKP5 ᰳਲ∝‫ޔ‬
᛫ 2' ᛫૕㓁ᕈ଀ߢߪᴦ≮ߒߚᣇ߇᦭ᗧߦᚑഞ₸߇㜞₸ߢ޽ߞߚ‫ޕ‬ਇ⢒∝ߩ♖␹⊛ࠬ࠻࡟ࠬߦ㑐ߒߡߪਇ⢒∝ࠬࠢ࡝࡯࠾ࡦࠣࠍⴕߥ޿⚿ᨐߦၮߠ޿ߡ
⺑᣿ࠍߔࠆߎߣߦࠃࠅ‫᦭ޔ‬ᗧߦࠬ࠻࡟ࠬ߇ᡷༀߔࠆߎߣ߇᣿ࠄ߆ߣߥࠅ‫⃻ޔ‬࿷‫⃰ޔ‬ຬߦࠃࠆᄙᣉ⸳౒ห⎇ⓥࠍㅴ߼ߡ޿ࠆ‫ߚ߹ޕ‬ᅚᕈ߇↵ᕈࠃࠅᵹ↥ᓟߩᛥ߁ߟ‫ޔ‬ਇ቟‫ޔ‬ᖤགྷ߇ᒝ޿ߎߣ್߽ߞߚߩߢ‫ޔ‬ᄦ߽ෳടߔࠆਇ⢒∝ቇ⚖ࠍ┙ߜ਄ߍߡᄦᇚߢ♖␹⊛ࠬ࠻࡟ࠬࠍᡷༀߔࠆ⹜ߺࠍᆎ߼ߚ‫ߦࠄߐޕ‬ਇ቟‫✕ޔ‬ᒛ‫ޔ‬ᔶࠅ‫ઁޔ‬⠪߳ߩᢜᗧ߇㜞޿ੱߪᜎ⛘෻ᔕࠍ⺃ዉߔࠆ 6J ఺∉߇ఝ૏ߢ޽ߞߚ‫ޕ‬ਇᅧ∝ߦ߅޿ߡ߽ࠬ࠻࡟ࠬ߇޽ࠇ߫⌕ᐥ₸߇㜞޿ߎߣ್߽᣿ߒߚ‫ߦࠄߐޕ‬ᄢ߁ߟߦㄭ޿ਇ⢒∝଀ߦኻߔࠆ⹺⍮ⴕേ≮ᴺߩ᦭ലᕈ߇␜ߐࠇߚ‫ޕ‬␠ળ⊛ߥ໪⊒ߣߒߡਇ⢒∝ߦኻߔࠆ㧽㧒㧭ࠍ૞ᚑߒᖱႎࠍ౏㐿ߒߡ޿ࠆ‫ߩઁߩߘޕ‬⥃ᐥ‫ޔ‬ၮ␆⎇ⓥߢߪ‫ޔ‬ᵹ↥⛐Ძߢ৻ㇱߩ∝଀ߢࠗࡦࡊ࡝ࡦ࠹ࠖࡦࠣㆮવሶߩࡔ࠴࡞ൻ
⇣Ᏹ߇⏕⹺ߐࠇ‫↢߇࡞ࠕ࡝࠹ࡑࡁ࠽ޔ‬ᱺᲥᕈࠍ߽ߟߎߣ߽ೋ߼ߡ᣿ࠄ߆ߣߥߞߚ‫ߘޕ‬ߩઁ‫↢ޔ‬ᱺ఺∉‫ⴊޔ‬ᶧಝ࿕‫∛ޔ‬ℂቇ⊛┙႐߆ࠄ߽ᄙߊߩᣂ⍮⷗߇ᓧࠄࠇߚ‫ޕ‬⎇ⓥಽᜂ⠪᳁ฬ࡮ᚲዻ⎇ⓥᯏ㑐ฬ෸߮ᚲዻ⎇ⓥᯏ㑐ߦ߅ߌࠆ⡯ฬ᧖ᶆ ⌀ᑿ     ฬฎደᏒ┙ᄢቇᄢቇ㒮කቇ⎇ⓥ⑼ᢎ᝼ਣጊ ືᄦ    ᘮᔕ⟵Ⴖᄢቇ↥ᇚੱ⑼ቇኾછ⻠Ꮷ↰ਛ ᔘᄦ     ᧲੩ᘏᕺળක⑼ᄢቇ
↥ᇚੱ⑼ᢎ᝼┻ਅ ବⴕ     ᣣᧄක⑼ᄢቇ↥ᇚੱ⑼ቇᢎ᝼
ጊ↰ ⑲ੱ     ␹ᚭᄢቇᄢቇ㒮කቇ⎇ⓥ⑼ᢎ᝼
ዊỈ િᤩ     ࿖┙ᚑ⢒ක≮࠮ࡦ࠲࡯     ๟↥ᦼ⸻≮ㇱක㐳ਛႦ ᐙ਽
   ጟጊᄢቇᄢቇ㒮଻ஜቇ⎇ⓥ⑼ᢎ᝼

ᧁ᧛ ᱜ     ᄢ㒋ᄢቇᄢቇ㒮කቇ♽⎇ⓥ⑼
↥ᇚੱ⑼ᢎ᝼⮮੗ ⍮ⴕ     ᧲੩ᄢቇ↥⑼ᇚੱ⑼ቇಎᢎ᝼ਅደ ᶈ৻㇢     Ꮉፒක⑼ᄢቇ↥⑼ᇚੱ⑼ቇᢎ᝼
ጊᧄ ᮸↢     ᣣᧄᄢቇ↥⑼ᇚੱ⑼ቇᢎ᝼
⮮੗ ବ╷     ᒄ೨ᄢቇᄢቇ㒮කቇ⎇ⓥ⑼ಎᢎ᝼
૒↰ ᢥብ     ࿖┙଻ஜක≮⑼ቇ㒮  ∉ቇㇱ␠ળ∉ቇቶ㐳ᐽ ᧲ᄤ     ਻Ꮊᄢቇᄢቇ㒮කቇ⎇ⓥ㒮⥃ᐥᬌᩏකቇಽ㊁ᢎ᝼1
ᣧᎹ ᥓ    ᣣᧄᄢቇ∛ᘒ∛ℂቇ♽ᓸ↢‛ቇಽ㊁ᢎ᝼৻ἑ ⊕Ꮲ  ጊᒻᄢቇකቇㇱಽሶ∛ᘒቇ⻠ᐳᢎ᝼ᩉේ ᩰ    ᄢ㒋ᐭ┙Უሶ଻ஜ✚วක≮࠮ࡦ࠲࡯
⎇ⓥᚲ఺∉ㇱ㐷ㇱ㐳⒌ ஜ৻㇢    ࿖┙ᚑ⢒ක≮࠮ࡦ࠲࡯⎇ⓥᚲ    ๟↥ᦼ∛ᘒ⎇ⓥㇱㇱ㐳᫪ᧄ ౗ᦖ
  ᄢ㒋ᄢቇකቇㇱⅣႺකቇᢎ᝼
ൎጊ ඳା    Ꮉፒක⑼ᄢቇ౏ⴐⴡ↢ቇᢎ᝼㜞᪀ ᅢ৻     ᣂẟᄢቇකᱤቇ✚ว∛㒮๟↥Უሶ࠮ࡦ࠲࡯ᢎ᝼
ႇ ᐽᄩ     ᄢ㒋ᄢቇ⮎ቇ⎇ⓥ⑼Ქᕈቇಽ㊁ᢎ᝼
ਛ㊁ ᦭⟤     ฬฎደᏒ┙ᄢቇ♖␹࡮⹺⍮࡮ⴕേකቇಽ㊁ഥᢎ ᧖ ବ㓉   ᧲ᶏᄢቇකቇㇱ
↥⑼ᇚੱ⑼㕖Ᏹൕᢎ᝼   㧭㧚⎇ⓥ⋡⊛ᅧᆼߪᚑ┙ߔࠆ߇‫ޔ‬ᵹ࡮ᱫ↥ࠍߊࠅ㄰ߔߚ߼
ߦ↢ఽࠍᜬߡߥ޿ਇ⢒∝ߦߟ޿ߡߪ‫ߢ߹ࠇߎޔ‬ታᘒ߇᣿ࠄ߆ߢߥߊ‫ߩߘޔ‬㗫ᐲ‫ޔ‬ᴦ≮ᚑ❣‫∛ޔ‬ᘒ߽᣿ࠄ߆ߢߥ߆ߞߚ‫⎇ᧄޕ‬ⓥ⃰ߪᧄ㇌ߦ߅ߌ
ࠆਇ⢒∝ߩታᘒࠍ᣿ࠄ߆ߦߔࠆߎߣࠍ⋡⊛ߦ⚵❱ߐࠇ‫ޔ‬ਇ⢒∝ߩ࡝ࠬࠢ࿃ሶ‫ޔ‬ฦ࡝ࠬࠢᲤߩᴦ
≮ᚑ❣‫࠻࡯ࡐࠨߥ⊛␹♖ޔ‬૕೙‫ޔ‬ၮ␆⊛࡮⥃ᐥ⊛┙႐߆ࠄߺߚᐢ᳢ߥ⎇ⓥࠍⴕߥ޿‫ޔ‬ਇ⢒∝ߩᴦ≮ᚑ❣ࠍะ਄ߐߖࠆߎߣࠍ⋡⊛ߣߒߚ‫ޕ‬߹ߚ‫ޔ‬ਇ⢒∝଀ߦ߅ߌࠆ♖␹⊛ࠬ࠻࡟ࠬ‫ޔ‬ሶችᄸᒻ‫ޔ‬ಝ࿕࿃ሶ⇣Ᏹ‫ޔ‬ㆮવࠛࡇࠫࠚࡀ࠹ࠖ࠶
ࠢⷐ࿃‫ޔ‬ⅣႺⷐ࿃‫ⷐ∉఺ޔ‬࿃ߦߟ߈ฦ⃰ຬ߽ߒߊߪᄙᣉ⸳ߢ౒ห⎇ⓥࠍⴕߥߞߚ‫ ޕ‬ᐕߦ  ࿁⃰⎇ⓥળࠍ㐿௅ߒ‫⋧ޔ‬੕ߩ⎇ⓥࠍℂ⸃ߔࠆߣߣ߽
ߦⓍᭂ⊛ߥ౒ห⎇ⓥࠍ┙᩺࡮ડ↹ߒታⴕߒߚ‫ޕ‬㧯㧚⎇ⓥ⚿ᨐ㧔ᐔᚑ  ᐕᐲ㧕㧔㧕 ਇ⢒∝଀ߩ࠺࡯࠲ࡌ࡯ࠬ᭴▽㧔ᜂᒰ ਣጊືᄦ‫↰ޔ‬ਛᔘᄦ‫┻ޔ‬ਅବⴕ‫ޔ‬ጊ
↰⑲ੱ‫ޔ‬ዊỈિᤩ‫ޔ‬ਛႦᐙ਽‫᧛ᧁޔ‬ᱜ‫⮮ޔ‬੗⍮ⴕ‫ޔ‬ਅደᶈ৻㇢‫ޔ‬ጊᧄ᮸↢‫⮮ޔ‬੗ବ╷‫ޔ‬㜞᪀ᅢ৻‫᧖ޔ‬ବ㓉‫ޔ‬㥲⮮ṑ㧕ᐔᚑ  ᐕᐲߦ  ⚵‫ޔ‬ᐔᚑ  ᐕᐲߦ ⚵‫⊓ߩ⚵  ⸘✚ޔ‬㍳߇޽ߞߚ‫ࠢࠬ࡝ޕ‬࿃ሶߣߒߡሶችᄸᒻ‫⁁↲ޔ‬⣼ᯏ⢻‫ޔ‬ᄦᇚᨴ⦡૕‫ޔ‬ ߟߩ᛫࡝ࡦ⢽⾰᛫૕ᬌᩏ㧔)2+ ଐሽᕈ᛫%. ᛫૕‫ޔ‬᛫ %.+I) ᛫૕‫ޔ‬᛫ %.+I/ ᛫૕‫࡞ޔ‬࡯ࡊࠬࠕࡦ࠴ࠦࠕࠣ࡜ࡦ࠻㧕‫ޔ‬:++ ࿃ሶ‫ޔ‬
2TQVGKP%‫ޔ‬2TQVGKP5 ࠍోߡᬌᩏߒߡ޿ࠆ∝଀߇  ଀޽ߞߚ‫⚿ߩߘޕ‬ᨐ‫ޔ‬ሶችᒻᘒ⇣Ᏹ 㧑‫⁁↲ޔ‬⣼⇣Ᏹ 㧑‫ޔ‬ᨴ⦡૕⇣Ᏹ 㧑‫ޔ‬᛫࡝ࡦ⢽⾰᛫૕㓁ᕈ 㧑‫ޔ‬:++࿃ሶᰳਲ߇ 㧑‫ޔ‬2TQVGKP5 ᰳਲ߇ 㧑‫ޔ‬2TQVGKP % ᰳਲ߇ 㧑ߢ޽ࠅ‫ޔ‬㧑߇ේ࿃ਇ᣿ߢ޽ߞߚ‫⃰ޕ‬ຬߩ᧖ࠄߦࠃࠅ
᣿ࠄ߆ߦߐࠇߚ᛫࡝ࡦ⢽⾰᛫૕ߩ৻⒳ߢ
޽ࠆ᛫ 2' ᛫૕ߪ‫⃻ޔ‬࿷ߩߣߎࠈ᛫࡝ࡦ⢽⾰᛫૕∝୥⟲ߩ್ᢿၮḰߦߪ౉ߞߡ޿ߥ
޿ߚ߼ߦේ࿃ਇ᣿ߩౝߦ฽߼ߚ‫߼ߚߩߘޕ‬ේ࿃ਇ᣿ 㧑ߩ߁ߜ᛫ 2' ᛫૕ +㨓) ߽ߒߊߪ +I/ ᛫૕㓁ᕈ଀߇ 㧑ࠍභ߼ߡ޿
ࠆ‫ޕ‬⊓㍳∝଀ߩ  ଀߇ᅧᆼߒߚߚ߼‫ߩߘޔ‬੍ᓟࠍᬌ⸛ߒߚߣߎࠈ‫ޔ‬ᵹ↥࿁ᢙ  ࿁એ਄ߢߪᰴ࿁ᅧᆼߢߩ↢ఽ₪ᓧ₸ߪૐਅߔࠆ
ߎߣ‫ޔ‬ሶችᒻᘒ⇣Ᏹ‫⁁↲ޔ‬⣼ᯏ⢻ਇో‫ࡊޔ‬ࡠ࠹ࠗࡦ 5 ᰳਲ∝‫ޔ‬᛫ 2' ᛫૕㓁ᕈ଀ߢߪᴦ≮⟲ߩᣇ߇ήᴦ≮⟲ߦᲧߒߡ↢ఽ₪ᓧ₸߇᦭ᗧߦ㜞₸ߢ޽ߞߚ‫ߒ߆ߒޕ‬ήᴦ≮⟲ߩ∝଀ᢙ߇ዋߥ޿ߚ߼‫੹ޔ‬ᓟߩᦝߥࠆᬌ⸛
㧮㧚⎇ⓥᣇᴺ߇ᔅⷐߢ޽ࠆ‫ޕ‬ᣂⷙਇ⢒∝଀ߦኻߒߡ⎇ⓥߩ᭎ⷐࠍ⺑᣿ߒ‫ޔ‬లಽߥℂ⸃ࠍᓧߚ਄ߢหᗧࠍᓧߚ‫∝ߩࠄࠇߎޕ‬㧔㧕 ਇ⢒∝଀ߦ߅ߌࠆ♖␹⊛ࠬ࠻࡟ࠬߣߘߩ
଀ߦਇ⢒∝ߩࠬࠢ࡝࡯࠾ࡦࠣࠍⴕߥ޿‫ޔ‬ฦ࡝ࠬኻ╷ࠢߩ㗫ᐲࠍ᣿ࠄ߆ߦߔࠆߣߣ߽ߦฦᴦ≮ᴺ೎ߩ
㧔ᜂᒰ ᧖ᶆ⌀ᑿ‫ޔ‬ਣጊືᄦ‫ޔ‬ฦോ⌀♿‫ޔ‬ਛ↢ఽ₪ᓧ₸ࠍᬌ⸛ߒߚ‫ޕ‬2Ⴆᐙ਽‫ޔ‬ਛ㊁᦭⟤‫ޔ‬ਅደᶈ৻㇢‫ޔ‬ൎጊඳା‫ޔ‬᫪ᧄ౗ᦖ㧕
ሶଏߩ޿ߥ޿ਇ⢒∝ᖚ⠪  ੱߦኻߒ♖␹⊛ࠬ࠻࡟ࠬߩ♽⛔⊛ᬌᩏࠍⴕߥߞߚߣߎࠈ 㧑ߦᛥ߁ߟ߇޽ࠅ‫⥸৻ޔ‬ኻ⽎⠪ߩ㧑ߦᲧߒ᦭ᗧߦ㜞୯ߢ޽ߞߚ‫ߒ߆ߒޕ‬♽⛔⊛ߥਇ⢒∝ࠬࠢ࡝࡯࠾ࡦࠣߣ⺑᣿ߦࠃࠅ᦭ᗧߦࠬ࠻࡟ࠬ߇シᷫߔࠆߎߣ߇್
᣿ߒߚ㧔᧖ᶆ‫ޔ‬ਛ㊁ᜂᒰ㧕‫⊒ߦࠄߐޕ‬ዷߐߖࠆߚ߼ᧄ⎇ⓥ⃰ߢᄙᣉ⸳౒ห⎇ⓥࠍ㐿ᆎߒߚ‫✕ߚ߹ޕ‬ᒛ‫ޔ‬ਇ቟‫ޔ‬ᔶࠅ‫ઁޔ‬⠪߳ߩᢜᗧ߇㜞޿ੱߪᜎ⛘෻ᔕࠍ⺃ዉߔࠆ 6J ఝ
૏ߥ఺∉ⅣႺߦ޽ࠆߎߣ್߽᣿ߒߚ‫ࠄߐޕ‬ߦᵹ↥ߩ♖␹⊛ᓇ㗀ߪሶችౝ⢝ఽᱫ੢‫ޔ‬ೋᦼᵹ↥‫ޔ‬ൻቇᵹ↥ߩ㗅ߢ޽ࠅ‫ޔ‬ㆊ෰ߩᅧᆼ
ߢߩ↢ఽߩ᦭ήߦᓇ㗀ߐࠇߥ޿ߣ޿߁ᚑ
❣߽ᓧࠄࠇߚ‫ޕ‬2GTKPCVCN)TKGH5ECNG ߩᣣᧄ⺆ ࠍ૞ᚑߒਇ⢒∝ߢᬌ⸛ߔࠆߣᅚ
ᕈ߇↵ᕈࠃࠅᛥ߁ߟ‫ޔ‬ਇ቟‫ޔ‬ᖤགྷ߇ᒝ޿ߎ
ߣ߇್ߞߚ‫ߢߎߘޕ‬ᄦᇚߢෳടߔࠆਇ⢒∝ቇ⚖ࠍ┙ߜ਄ߍ‫ޔ‬ᄦᇚߢ♖␹⊛ࠬ࠻࡟ࠬࠍ
シᷫߔࠆ⹜ߺ߽ᆎ߼ߚ‫ޕ‬ਇ⢒∝ߩߺߥࠄߕ
ਇᅧ∝ߦߟ޿ߡߩ⌕ᐥ೨‫⌕ޔ‬ᐥᦼ‫ޔ‬㤛૕ᦼᓟᦼߦໜᶧਛߩࠦ࡞࠴࠱࡯࡞ߢࠬ࠻࡟
ࠬࠍ⹏ଔߔࠆߣ‫⌕ޔ‬ᐥ೨‫⌕ޔ‬ᐥᦼߦໜᶧਛ
ࠦ࡞࠴࠱࡯࡞߇㜞୯ߢ޽ࠇ߫⌕ᐥ₸߇ૐ޿ߣ޿߁⚿ᨐ߽ᓧࠄࠇߚ‫ޕ‬♖␹⑼⊛ᴦ≮ߩᔅⷐߥᄢ߁ߟߦㄭ޿ਇ
⢒∝଀ߪߐ߶ߤᄙߊߪߥ߆ߞߚ߇‫ߦ଀ ޔ‬⹺⍮ⴕേ≮ᴺࠍᣉⴕߒߚߣߎࠈ‫߽ࠇߕ޿ޔ‬᦭ലߢ޽ߞߚߚ߼੹ᓟࡑ࠾ࡘࠕ࡞ࠍ૞ᚑ
ߒ‫ޔ‬ᐢߊᣉⴕߢ߈ࠆࠃ߁ߦᰴᐕᐲ߹ߢߦߪ
ߒߚ޿ߣ⠨߃ߡ޿ࠆ‫ޕ‬㧔㧕 ಝ࿕࿃ሶ⇣Ᏹ‫ޔ‬᛫࡝ࡦ⢽⾰᛫૕㧔ᜂᒰ ᧖ବ㓉‫ޔ‬ጊᧄ᮸↢‫⮮ޔ‬੗⍮ⴕ‫ޔ‬ᐽ᧲ᄤ‫৻ޔ‬ἑ⊕Ꮲ㧕
᛫ 2' ᛫૕ߪਇ⢒∝ߦ㜞㗫ᐲߢᬌ಴ߐࠇࠆ
߇⃻࿷߹ߢߩߣߎࠈ‫ޔ‬ᵹ↥ߣߩ⋥ធ⊛ߥ࿃ᨐ㑐ଥߪਇ᣿ߢ޽ࠆ‫࡯ࠩ࡯࡟ޕ‬ᢔੂ☸ሶ⸘᷹ᴺ
ࠍ↪޿ߡਇ⢒∝଀ߩⴊዊ᧼ಝ㓸⢻ࠍ⺞ߴߚߣߎࠈ‫ޔ‬᛫ 2' ᛫૕㓁ᕈߢ :++ ࿃ሶᰳਲ∝ߢߪ⪺ߒߊⴊዊ᧼ಝ㓸⢻߇੣ㅴߒߡ߅ࠅ‫ޔ‬᛫ⴊዊ᧼≮ᴺ߇ᔅⷐߢ޽ࠆߎߣ߇␜ໂߐࠇߚ‫⥃ޕ‬ᐥ࠺࡯࠲ߦ߅޿ߡ߽∝଀ᢙߪዋߥ޿߇ήᴦ
≮⟲ߩ↢ఽ₪ᓧ₸ 㧔㧑㧕ߦᲧߒᴦ≮⟲ߩ 㧔㧑㧕ߩ↢ఽ₪ᓧ₸ߪ᦭ᗧߦ㜞୯ߢ޽ߞߚ‫ߒ߆ߒޕ‬ήᴦ≮⟲߇ዋߥ޿ߚ߼᛫ 2' ᛫૕ࠍࠬࠢ࡝࡯࠾ࡦࠣߒߥ߆ߞߚ
∝଀ߢᅧᆼᏫ⚿߇್᣿ߒߡ޿ࠆᇚੱߩⴊᷡ
ࠍ↪޿ߡᓟᣣ‫ޔ‬᛫ 2' ᛫૕ଔࠍ᷹ቯߒ‫ޔ‬ήᴦ≮⟲ߣᴦ≮⟲ߣߢᅧᆼᚑഞ₸ࠍᲧセߔࠆࠬ࠲࠺ࠖࠍ㐿ᆎߒߚ‫ޕ‬᛫࡝ࡦ⢽⾰᛫૕ߪⴊᩖߩේ࿃ߦߥࠆ߫߆
ࠅߢߥߊ‫⛐ޔ‬Ძߩ %&+F ߣ㑆ធ⊛ߦ⚿วߒ‫ޔ‬VTQRJQDNCUV ߆ࠄߩ +. ↥↢ࠍ㜞߼ߚࠅ‫ޔ‬⛐Ძ⚦⢩਄ߩ 6.4‫ޔ‬6.4 ߩ⊒⃻ࠍ㜞߼Ἳ∝ࠍᗖ⿠ߔࠆߎߣ್߽᣿ߒߚ‫ࡦࠗ࠹ࡠࡊߚ߹ޕ‬<㧔2<㧕߿ࡊࡠ࠹ࠗࡦ < ଐሽᕈⰮ⊕⾰ಽ⸃㉂⚛ࠗࡦࡅࡆ࠲࡯ߣᅧᆼߦߟ޿ߡߩ⎇ⓥ߽㐿ᆎߒߚ‫ ߚ߹ޕ‬:++ ࿃ሶᰳਲ∝‫ޔ‬2TQVGKP5 ᰳਲ∝‫ޔ‬2TQVGKP% ᰳਲ∝ߦߟ޿ߡ  ଀ߩㆮવሶ⸃ᨆࠍታᣉߒߚ‫ޕ‬㧔㧕 ㆮવⷐ࿃‫ࠢ࠶ࠖ࠹ࡀࠚࠫࡇࠛޔ‬࿃ሶߣⅣ
Ⴚⷐ࿃㧔ᜂᒰ ⒌ஜ৻㇢‫ޔ‬ዊỈિᤩ‫ޔ‬ᩉේᩰ‫ޔ‬ႇᐽᄩ‫᧖ޔ‬ᶆ⌀ᑿ‫ޔ‬ጊ↰⑲ੱ‫ޔ‬૒↰ᢥብ㧕
ࠕ࡟ࠗ %)* ᴺࠍ↪޿ࠆߣᵹ↥ߩ⚂ 㧑ߦᨴ⦡૕⇣Ᏹࠍ⹺߼ߚ‫৻ߚ߹ޕ‬ㇱߩ∝଀ߩᵹ↥⛐Ძߢߪࠗࡦࡊ࡝ࡦ࠹ࠖࡦࠣㆮવሶߩࡔ࠴
࡞ൻ⇣Ᏹ߽⹺߼ࠄࠇ‫߽߆ߒޔ‬㘃ૃߩࡄ࠲࡯ࡦ
ࠍ␜ߔ∝଀߽޽ߞߚߚ߼ࠕ࠶࠻࡜ࡦ࠳ࡓߦ
ࡔ࠴࡞ൻ⇣Ᏹ߇⿠ߎࠆߩߢ߽ߥߐߘ߁ߢ޽
ࠆ‫੹ޕ‬ᓟ‫ࠍ଀∝ߦᦝޔ‬㓸Ⓧߒߡᣂ⍮⷗ࠍ᣿ࠄ߆ߦߒߡ޿ߊ੍ቯߢ޽ࠆ‫ߚ߹ޕ‬㘩ຠᷝട‛߿ൻ♆ຠߦ฽߹ࠇࠆ࠽ࡁࡑ࠹࡝ࠕ࡞߇ᛛⴚߩ
ㅴᱠߦࠃࠅዊဳൻߒߡ޿ࠆ߇‫☸ޔ‬ሶᓘ߇
PO એਅߦߥࠆߣᵹ↥߿ሶችౝ⢝ఽ⊒⢒ㆃᑧࠍᒁ߈߅ߎߔߎߣ߽᣿ࠄ߆ߦߒߚ‫੹ޕ‬ᓟ‫ޔ‬㘩ຠᷝട‛ߩⷙ೙ߦߟ޿ߡ߽ឭ⸒ߒߡ޿ࠆ
ᔅⷐ߇޽ࠆ‫ޕ‬ᰴᐕᐲ߽ߐࠄߦ⹦⚦ߥᬌ⸛ࠍ⛯ߌߡ޿ߊ੍ቯߢ޽ࠆ‫ޔߚ߹ޕ‬ᵹ↥ߦߟߥ߇ࠆ
ᨴ⦡૕ߩᢙߩ⇣Ᏹߩࡔࠞ࠾࠭ࡓߦߟ޿ߡ‫ߘޔ‬ߩࡕ࠺࡞ࠍࡔ࠳ࠞߢ૞⵾ߒߚ‫ޕ‬㧔㧕 ␠ળ߳ߩ໪⊒ ੹ᐕᐲߪᦺᣣᣂ⡞‫ޔ‬ᣣ⚻ᣂ⡞‫ޔ‬ਛᣣᣂ⡞ߢᧄ⎇ⓥ⃰ߩߎߣ߇ᄢ߈ߊขࠅ਄ߍࠄࠇ‫ޔ‬ᣣᧄ࠹࡟ࡆ♽ߩ 0GYU ࠯ࡠߢ߽ਇ⢒∝ߩߎߣ߇᡼
ᤋߐࠇ‫␠ޔ‬ળ߆ࠄ߽ਇ⢒∝߇ᵈ⋡ࠍ޽߮ࠆࠃ
߁ߦߥߞߡ߈ߚ‫ޕ‬3 ߹ߚ‫ޔ‬ਇ⢒∝ߦኻߔࠆ 3# ߽૞ᚑߒߚߩ
ߢ‫ޔ‬ᄙߊߩᣇ‫ߦޘ‬೑↪ߒߡ޿ߚߛߌࠇ߫ߣ⠨߃ߡ޿ࠆ‫੹ޕ‬ᓟߪਇ⢒∝ߦ㑐ߔࠆᖱႎࠍࠗࡦ
࠲࡯ࡀ࠶࠻਄ߢ౏㐿ߒ‫ޔ‬ᖚ⠪߿කᏧ߇ᵴ↪ߢ߈ࠆࠃ߁ߦߒߚ޿ߣ⠨߃ߡ޿ࠆ‫ޕ‬ ߹ߚ‫⎇ᧄޔ‬ⓥ⃰ߢᄦ఺∉≮ᴺߦߟ߈ࠕࡦࠤ
࡯࠻⺞ᩏߒߚߣߎࠈ⃻࿷ߢ߽⚂  ߩᣉ⸳߇ᄦ࡝ࡦࡄ⃿ߦ᡼኿✢ᾖ኿ߒߡ޿ߥ޿ߣ޿
߁㊀ᄢߥ⍮⷗߇ᓧࠄࠇߚߩߢ‫ߦߜ⋥ޔ‬ᡷༀߔࠆࠃ߁ᣣᧄ↥⑼ᇚੱ⑼ቇળߩࡎ࡯ࡓࡍ࡯ࠫߦឝタߒߚ‫ޕ‬㧰㧚⠨ኤ࡮㧱⚿⺰ੑᐕ⋡ߢ޽ࠆ߇‫ޔ‬ਇ⢒∝ߩ⊓㍳߽  ⚵ߣߥࠅ‫ޔ‬ᄙߊߩ⥃ᐥ࠺࡯࠲ࠍ㓸Ⓧߒߟߟ޽ࠆ‫ߚ߹ޕ‬ೋᐕᐲߦਇ⢒∝ߩ♖␹⊛ߥࠬ࠻࡟ࠬ߇໧㗴ߣߥߞߚ߇‫⸃ߩ߆ߟߊ޿ޔ‬᳿╷߽⷗߃ߡ߈ߚ‫ࠄߐޕ‬ߦၮ␆⊛ߦ߽ᵹ↥⛐Ძߩࠗࡦࡊ࡝ࡦ࠹ࠖࡦࠣ⇣Ᏹ‫↢ߩ࡞ࠕ࡝࠹ࡑࡁ࠽ޔ‬ᱺᲥᕈߥߤ㊀ⷐߥ⊒⷗߇ߥߐࠇߚ‫␠ߚ߹ޕ‬ળ⊛ߦ߽ᧄ⎇ⓥ⃰ߩᵴേ߇ࡑࠬࡔ࠺ࠖࠕߦขࠅ਄ߍࠄࠇࠆࠃ߁ߦߥࠅ‫ޟ‬ਇ⢒∝‫ߦੱ⥸৻߽⪲⸒߁޿ߣޠ‬⍮ࠄࠇࠆࠃ߁ߦߥ
ߞߡ߈ߚ‫ޕ‬ᰴᐕᐲߪ‫ࠅࠃޔ‬ᖱႎࠍ౏㐿ߒਇ⢒∝ߩߎߣࠍ␠ળߦ߽ᱜߒߊℂ⸃ߒߡ޿ߚߛ߈ߚ޿
ߣᕁߞߡ޿ࠆ‫ޕ‬㧲㧚ஜᐽෂ㒾ᖱႎߥߒ㧳㧚⎇ⓥ⊒⴫ ⺰ᢥ⊒⴫ .KP;9CPI9,KP*<JQPI;&K,
<GPI55CKVQ5㧦%QORCTKUQPQHOWTKPGVJ[OKEUVTQOCNN[ORJQRQKGVKPCPF
RQN[KPQUKPKERQN[E[VKF[NKE
CEKFOGFKCVGFRNCEGPVCNFGPFTKVKEEGNNCEVKXCVKQP,4GRTQF+OOWPQN㧦
 .KP;4GP.9CPI9&K,<GPI5
5CKVQ5㧦'HHGEVQH6.4CPF6.4
CEVKXCVKQPKPWVGTKPG0-EGNNUHTQOPQPQDGUGFKCDGVKE 01& OKEG
,4GRTQF+OOWPQN㧦
 5CKVQ 5 㧦 6JG %CWUGU CPF 6TGCVOGPV QH
4GEWTTGPV 2TGIPCPE[ .QUU ,/#,  

4㧦
 .KP;0CMCUJKOC#5JKOC6<JQW:
5CKVQ5㧦6QNNNKMGTGEGRVQTUKIPCNKPIKPWVGTKPGPCVWTCNMKNNGTEGNNU̅ TQNG
KPGODT[QPKENQUU,4GRTQF+OOWPQN㧦
 .KP;<JQPI;5CKVQ5%JGP;
5JGP9&K,<GPI5㧦%JCTCEVGTK\CVKQPQHPCVWTCNMKNNGTEGNNUKPPQPQDGUGFKCDGVKEUGXGTGN[EQORTQOKUGFKOOWPQFGHKEKGPVOKEGFWTKPIRTGIPCPE[(GTVKN5VGTKN㧦
 0CMCUJKOC#+VQ/;QPGFC55JKQ\CMK#*KFCMC65CKVQ5%KTEWNCVKPICPF
FGEKFWCN6JEGNNNGXGNKPJGCNVJ[RTGIPCPE[#O,4GRTQF+OOWPQN
 0CMCUJKOC#+VQ/5JKOC6$CE0&
*KFCMC65CKVQ5#EEWOWNCVKQPQH
+.RQUKVKXGEGNNUKPFGEKFWCQH
KPGXKVCDNGCDQTVKQPECUGU#O,
4GRTQF+OOWPQNKPRTGUU 5JKOC65CUCMK;+VQ/0CMCUJKOC#+UJKK05WICOWTC-5CKVQ5
4GIWNCVQT[6EGNNUCTGPGEGUUCT[HQT
KORNCPVCVKQPCPFOCKPVGPCPEGFWTKPIGCTN[UVCIGQHRTGIPCPE[DWVPQV
PGEGUUCT[FWTKPINCVGUVCIGQH
RTGIPCPE[KPCNNQIGPGKEOKEG
,4GRTQF+OOWPQNKPRTGUU 5CKVQ55JKOC60CMCUJKOC#.KP;
+OOWPGUWTXGKNNCPEGFWTKPIRTGIPCPE[+PFKCP,2J[UKQN2JCTOCEQN  
 5WIKWTC1ICUCYCTC/1\CMK;-KVCQTK6
-WOCICK - 5W\WMK 5 /KFNKPG WVGTKPG
FGHGEVUK\GEQTTGNCVGFYKVJOKUECTTKCIGQH GWRNQKF GODT[QU KP TGEWTTGPV ECUGU(GTVKN5VGTKNKP RTGUU 5WIKWTC1ICUCYCTC/1\CMK;-CPGMQ5
-KVCQTK6-WOCICK-,CRCPGUGUKPINGYQOGPJCXGNKOKVGFMPQYNGFIGQH
CIGTGNCVGFTGRTQFWEVKXGVKOGNKOKVU+PV,1DUVGV)[PGEQNKPRTGUU 5WIKWTC1ICUCYCTC/1\CMK;-KVCQTK



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

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65W\WOQTK01DC[CUJK55W\WMK5.KXGDKTVJTCVGCEEQTFKPIVQOCVGTPCNCIGCPFRTGXKQWUPWODGTQHTGEWTTGPVOKUECTTKCIGU#O,4GRTQF+OOWPQN
/CTW[COC66JGTCRGWVKE5VTCVGIKGUHQT
+ORNCPVCVKQP(CKNWTGFWGVQ'PFQOGVTKCN&[UHWPEVKQP,/COO1XC
4GU
#TCUG67EJKFC*-CLKVCPK61PQ/
6COCMK-1FC*0KUJKMCYC5-CICOK/
0CICUJKOC6/CUWFC*#UCFC*;QUJKOWTC;/CTW[COC66JG
7&2INWEQUGTGEGRVGT24;VTKIIGTUKPPCVGOWEQUCNKOOWPKV[KPVJGHGOCNGTGRTQFWEVKXGVTCEVD[KPFWEKPI+.,+OOWPQN
1OK*-CYCIWEJK46CPCMC6GVCN'UVCDNKUJOGPVQHCPKOOQTVCNK\GFJWOCPGZVTCXKNNQWUVTQRJQDNCUVEGNNNKPGD[TGVTQXKTCNKPHGEVKQPQH''J6'46CPF
KVUVTCPUETKRVKQPCNRTQHKNGFWTKPIJ[RQZKCCPFTGQZ[IGPCVKQP+PV,/QN/GF㧦ޯ  -CYCIWEJK46CPCMC6GVCN 2TKOKPIQHRGTKRJGTCNOQPQE[VGUYKVJRTQNCEVKPUGPUKVK\GU+(0ICOOCOGFKCVGF
KPFQNCOKPGFKQZ[IGPCUGGZRTGUUKQPYKVJQWVCHHGEVKPI+(0ICOOCUKIPCNKPI,
4GRTQF+OOWPQN 
+VQJ*6CPCMC6GVCN #ECUGEQPVTQN
UVWF[QHVJGCUUQEKCVKQPDGVYGGPWTKPCT[ECFOKWOEQPEGPVTCVKQPCPFGPFQOGVTKQUKUKPKPHGTVKNG,CRCPGUGYQOGP5EKGPEGQH
VJG6QVCN'PXKTQPOGPV 㧧㧦ޯ㧚
7GFC-6CPCMC6GVCN #UUQEKCVKQPQH
GZVTCEGNNWTCTOCVTKZOGVCNNQRTQVGCUG
KPFWEGTKPGPFQOGVTKCNECTEKPQOCYKVJRCVKGPVQWVEQOGUCPFENKPKEQRCVJQIGPGUKUWUKPIOQPQENQPCNCPVKDQF[% 1PEQN
4GR 㧧㧚  
6CMCQ/6CPCMC6GVCN+PETGCUGF
U[PVJGUKUQH
KPFQNCOKPGFKQZ[IGPCUGRTQVGKPKURQUKVKXGN[CUUQEKCVGFYKVJKORCKTGF













UWTXKXCNKPRCVKGPVUYKVJUGTQWUV[RG
DWVPQVYKVJQVJGTV[RGUQHQXCTKCPECPEGT1PEQN4GR 㧧
㧚+ICTCUJK-#MKTC5+OCMK,6CMGUJKVC
65[UVGOKEGPFQVQZKPKPFWEGUIGPGGZRTGUUKQPQHKPFWEKDNGPKVTKEQZKFGU[PVJCUGKPHGVCNTCVDTCKP,0KRRQP/GF
5EJ1EV  -WYCDCTC;/KPG--CVC[COC#+PCICYC
6#MKTC56CMGUJKVC62TQVGQOKECPCN[UGUQHTGEQODKPCPVJWOCPHQNNKENGUVKOWNCVKPIJQTOQPGCPF
WTKPCT[FGTKXGFIQPCFQVTQRKPRTGRCTCVKQPU,4GRTQF/GF
#WI  #MKTC5+YCUCMK0+EJKMCYC//KPG-
-WYCDCTC;6CMGUJKVC66CLKOC*
5WEEGUUHWNNQPIVGTOOCPCIGOGPVQH
CFGPQO[QUKUCUUQEKCVGFYKVJFGGRVJTQODQUKUD[NQYFQUGIQPCFQVTQRKP 
TGNGCUKPIJQTOQPGCIQPKUVVJGTCR[%NKP
'ZR1DUVGV)[PGEQN  
.WQ55+UJKDCUJK1+UJKMCYC)+UJKMCYC
6-CVC[COC#/KUJKOC66CMK\CYC6
5JKIKJCTC6)QVQ6+\WOK#1JMWEJK#/CVUWDCTC56CMGUJKVC66CMK\CYC6
*WOCPXKNNQWUVTQRJQDNCUVUGZRTGUUCPF
UGETGVGRNCEGPVCURGEKHKEOKETQ40#UKPVQOCVGTPCNEKTEWNCVKQPXKCGZQUQOGU
$KQN4GRTQF1EV  'RWD
,WP
#UCMWTC*(WMCOK6-WTCUJKPC4
6CVG[COC0&QK&6CMGUJKVC6
5KIPKHKECPEGQHEGTXKECNINCPFCTGCKPRTGFKEVKPIRTGVGTODKTVJHQTRCVKGPVUYKVJVJTGCVGPGFRTGVGTOFGNKXGT[
EQORCTKUQPYKVJEGTXKECNNGPIVJCPF
HGVCNHKDTQPGEVKP)[PGEQN1DUVGV+PXGUV  'RWD/CT
&QK&$QJ;-QPKUJK*#UCMWTC*
6CMGUJKVC6%QODKPGFEJGOQVJGTCR[YKVJRCENKVCZGNCPFECTDQRNCVKPHQTOWEKPQWUE[UVCFGPQECTEKPQOCQHVJGQXCT[FWTKPIRTGIPCPE[#TEJ)[PGEQN1DUVGV

5



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6

1EV  'RWD(GD#MKTC5/KPG--WYCDCTC;6CMGUJKVC6
'HHKECE[QHNQPIVGTONQYFQUG
IQPCFQVTQRKPTGNGCUKPIJQTOQPGCIQPKUVVJGTCR[ FTCYDCEMVJGTCR[ HQT
CFGPQO[QUKU/GF5EK/QPKV
,CP  %4
;COCFC*#VUWOK6-QDCUJK)1VC%-CVQ'*6UWTWIC01JVC-;CUWFC5-QKMG6
/KPCMCOK *   #PVKRJQURJQNKRKFCPVKDQFKGU KPETGCUG VJG TKUM QH
RTGIPCPE[KPFWEGF J[RGTVGPUKQP CPFCFXGTUG RTGIPCPE[ QWVEQOGU , 4GRTQF
+OOWPQN
5CVC(6Q[C5;COCFC*5W\WMK-5CKLQ; ;COC\CMK # /KPCMCOK * -KUJK 4 
2TQKPHNCOOCVQT[E[VQMKPGRQN[OQTRJKUOU CPF VJG TKUM QH RTGVGTODKTVJCPFNQYDKTVJYGKIJVKPC,CRCPGUGRQRWNCVKQP
/QN
*WO
4GRTQF  
5JKOCFC5;COCFC**QUJK0-QDCUJK)
1MW[COC-*CPCVCPK-(WLKOQVQ5  
5RGEKHKEWNVTCUQWPFHKPFKPIUCUUQEKCVGFYKVJ HGVCN EJTQOQUQOG CDPQTOCNKV[%QPIGPKV#PQO -[QVQ   
5JKOCFC 5 6CMGFC / 0KUJKJKTC ,
-CPGWEJK / 5CMWTCIK 0 /KPCMCOK *
;COCFC *   # JKIJ FQUG QH
KPVTCXGPQWU KOOWPQINQDWNKP KPETGCUGU%&GZRTGUUKQPQPPCVWTCNMKNNGTEGNNU
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6CVGMK6UWVUWKCPF*KVQOK0CMCOWTC6YQOWNVKRQVGPVKCNVTCPUETKRVKQPHCEVQTU0(MCRRC$CPF5VCVRNC[ETKVKECNCPFJKGTCTEJCNTQNGUHQT
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66QOKOCVUW65JKOQ[C- 6GORQTCNCPF
5RCVKCN'ZRTGUUKQPQH6WOQT#UUQEKCVGF
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6GOOC#UCPQ-/KOWTC--KPWICUC6CPKIWEJK;-CPCICYC6(WMWFC
*-KOWTC66QOKOCVUW65JKOQ[C-
1ZKFCVKXGUVTGUUKPFWEGF5$RTQVGKPHTQORNCEGPVCCPFCOPKQPCHHGEVUUQNWDNG'PFQINKPTGNGCUGHTQOGPFQVJGNKCNEGNNU
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㥲⮮ ṑ᧖ᶆ⌀ᑿ㧦ࡢ࡯࡚ࠢࠪ࠶ࡊ ‫ޟ‬ਇ⢒∝ߩᣂߚߥේ࿃ត⚝ߣᴦ≮‫ޠ‬ᐳ㐳ߩ߹ߣ߼ᣣᧄ๟↥ᦼ࡮ᣂ↢ఽකቇળ㔀⹹㧦
㉿⷗ᠲ✜┻ਅବⴕ㧦‫↢ޣ‬ᱺߣ఺∉ࠍ߼ߋߞߡ‫ޤ‬ᄦ࡝ࡦࡄ⃿఺∉≮ᴺᓟߩ⛯⊒ᕈਇᅧ∝㧦⥃ᐥ఺∉࡮ࠕ࡟࡞ࠡ࡯⑼  Ꮞ  ภ2CIG
ፃస਽ንጊ௥ሶ᪀ේᘮలⒷᎹᥓሶ㒙ㇱፏ⷏ᒎ↢᣿ᭉ㊀ᄦᚑ⋧ቁ৻૒⮮ཅ౓┻ਅବⴕ㧦ឃෆ⺃⊒ᤨߩෆ⢩ᶧਛJGZCPQ[NN[UKPG Ớᐲߣ #46 ⥃ᐥ⢛᥊ߩᬌ⸛㧦ᣣᧄฃ♖⌕ᐥቇળ㔀⹹  Ꮞ  ภ2CIG
┻ਅବⴕ ᣣᧄක⑼ᄢቇ↥ᇚੱ⑼ 㧦‫ޣ‬๟↥ᦼක≮ߣ KPHNCOOCVQT[TGURQPUG‫ޤ‬ਇ⢒∝㧦๟↥ᦼකቇ   Ꮞ  ภ
2CIG
┻ਅବⴕ㧦ਇ⢒∝ߩ⸻ᢿߣᴦ≮ሶችᄸᒻߩ

9



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10

ᬌᩏߣᴦ≮㧦ᣣᧄ↥⑼ᇚੱ⑼ቇળ㑐᧲ㅪว࿾ᣇㇱળ⹹   Ꮞ  ภ
2CIG
┻ਅବⴕ ᣣᧄක⑼ᄢቇ↥ᇚੱ⑼ቇ 㧦ਇ⢒∝ߣᲣᕈ ᵹ↥ᱫ↥ᓟߩᔃℂࠤࠕ㧦␹ᄹᎹᲣᕈⴡ↢ቇળ⹹ :  Ꮞ  ภ
2CIG
┻ਅବⴕ ᣣᧄක⑼ᄢቇ↥ᇚੱ⑼ቇᢎቶ
‫߇ߎߎޣ‬⡞߈ߚ޿ ਇᅧ࡮ਇ⢒∝⸻≮ࡌࠬ࠻ࡊ࡜ࠢ࠹ࠖࠬ‫ ޤ‬ਇ⢒∝ߩᬌᩏ࡮⸻ᢿ ౝಽᴲ࡮ઍ⻢࿃ሶ‫ޣ‬ౝಽᴲ࡮ઍ⻢⇣Ᏹ‫ ޤ‬ਇ⢒∝ߦ߅ߌࠆ↲⁁⣼ᯏ⢻⇣Ᏹߩ∛ᘒߦߟ޿ߡᢎ߃ߡߊߛߐ޿ᧄᒰߦᵹ↥ߣߩ㑐ଥߪ޽ࠆߩߢߒࠂ߁߆㧦⥃ᐥᇚੱ⑼↥⑼  Ꮞ  ภ2CIG
┻ਅବⴕ ᣣᧄක⑼ᄢቇ↥ᇚੱ⑼ቇᢎቶ
‫߇ߎߎޣ‬⡞߈ߚ޿ ਇᅧ࡮ਇ⢒∝⸻≮ࡌࠬ࠻ࡊ࡜ࠢ࠹ࠖࠬ‫ ޤ‬ਇ⢒∝ߩᬌᩏ࡮⸻ᢿ ౝಽᴲ࡮ઍ⻢࿃ሶ‫ޣ‬ౝಽᴲ࡮ઍ⻢⇣Ᏹ‫↢ ޤ‬ᱺౝಽᴲ⇣Ᏹ↲⁁⣼ᯏ⢻⇣Ᏹ♧ዩ∛ߩᬌᩏߩታ㓙ߦߟ޿ߡᢎ߃ߡߊߛߐ޿㧦⥃ᐥᇚੱ⑼↥⑼   Ꮞ  ภ
2CIG
ጊ↰⑲ੱ㧔㧕㧦᛫࡝ࡦ⢽⾰᛫૕ߪ↥⑼⇣Ᏹ㧘․ߦᅧᆼ㜞ⴊ࿶∝୥⟲ߣ㑐ㅪߔࠆ㧚ᣣᧄ๟↥ᦼ࡮ᣂ↢ఽකቇળ㔀⹹   㧦
ᄤ㊁⌀ℂሶ㧘ጊ↰⑲ੱ㧔㧕㧦ਇ⢒∝ߣవᄤᕈಝ࿕⇣Ᏹ㧚ᣣᧄⴊᩖᱛⴊቇળ⹹  㧘㧚ዊỈિᤩ㧦‫↥ޣ‬ᇚੱ⑼ኾ᡹කߩ⎇ୃ ૗ࠍ
ᢎ߃ࠆ!૗ࠍቇ߱! ↢ᱺක≮✬ ‫ޤ‬ਇ⢒∝ߩ▤ℂ ⸃⺑․㓸 ↥⑼ߣᇚੱ⑼  
ᳯ⷗ᒎ↢㧘⩓ᅤᜆ㧘᧻↰⟤๺㧘ᷡ᳓ᕺሶ㧘ዊ⼱ᣧ⪲ሶ㧘⩵ᳰ↱ടሶ㧘㎨↰ᵏᒾ㧘ᐔ᧻␭ม㧘ਛႦᐙ਽㧚ਇ⢒∝∝଀ߦ߅ߌࠆ
ೋ⸻ᤨߩ㗼࿷ᕈਇ቟ߩᬌ⸛㧚ጟጊ⋵Უᕈⴡ↢ 㧔ශ೚ਛ㧕ਅደᶈ৻㇢㧦ࠊ߆ࠅ߿ߔ޿๟↥ᦼ࡮ᣂ↢ఽߩャⴊ≮ᴺ㧔ᄢᚭᢧ‫ޔ‬ᄢਭ଻శᄦ✬㧕ࡔࠫࠞ࡞ࡆࡘ࡯ ᐕ  ᦬⊒ೀ RCIG+62 ว૬ᅧᆼ 
ਅደᶈ৻㇢㧦๟↥ᦼᢇᕆߘߩߣ߈ߤ߁ߔ
ࠆ㧍㧫㧔శ↰ା᣿✬㧕ࡔ࠺ࠖࠞ಴ ࡍ࡝ࡀࠗ࠲࡞ࠤࠕ  ᐕᣂᤐჇೀภ RCIG

ಾㄼᣧ↥ߩᴦ≮ਛ‫ޔ‬ᅧᇚ߇ోりߩߛࠆߐ߿∩ߺࠍ⸷߃ߚ٤Ⴎ㉄࡝࠻࠼࡝ࡦߩ೽૞↪ ầ↰߹ࠅሶႦᧄ㤗⟤᧻ᨋ⑲ᒾንጊ㆐
ᄢ⍹↰೰ầ↰⥋ᄩᒛ⦟ታൎጊඳା
᫪ᧄ౗ᦖਅደᶈ৻㇢㧦૕ᄖฃ♖⢦⒖ᬀߦ
߅ ߌ ࠆ ⌕ ᐥ ߣ ࠬ ࠻ ࡟ ࠬ ߣ ߩ 㑐 ㅪ ߦ ߟ ޿ ߡໜᶧਛࠦ࡞࠴࠱࡯࡞ߪ⌕ᐥߣ⋧㑐ߔࠆᣣᧄ ↢ ᱺ ක ቇ ળ 㔀 ⹹   Ꮞ  ภ
2CIG   ầ↰߹ࠅሶ‫ޔ‬ᚭ↰㓷⵨‫ޔ‬ንጊ㆐ᄢ‫ޔ‬᫪ᧄ౗ᦖ‫ޔ‬ൎጊඳା‫ޔ‬ਅደᶈ৻㇢㧦⌕ᐥߣࠬ࠻࡟ࠬߣߩ㑐ㅪߦߟ޿ߡ̆Უ૕ࠬ࠻࡟ࠬ
࡟ࡌ࡞ߪ⌕ᐥߣ⋧㑐ߔࠆ̆ࠬ࠻࡟ࠬ⑼ቇ  Ꮞ  ภ2CIG ᏒᎹ ೰‫ޔ‬ጊᧄ᮸↢ ᛫Ǫ)2Σ᛫૕ߦࠃࠆ⛐Ძ㓚ኂ ⥃ᐥ఺ᓎ࡮ࠕ࡟࡞ࠡ࡯⑼   ⮮੗ବ╷ઁ⌕ᐥߩࡔࠞ࠾࠭ࡓ‫ޟ‬0- ⚦⢩‫*ޠ‬QTOQPG(TQPVKGTKP)[PGEQNQI[
 ⑔੗ᷕผ⮮੗ବ╷ઁฃ♖ෆ⌕ᐥਇోߦ߅ߌࠆ 0- ⚦⢩ߩᓎഀ⥃ᐥ఺∉࡮ࠕ࡟
࡞ࠡ࡯⑼ ⑔੗ᷕผ⮮੗ବ╷ઁ⌕ᐥਇో∝଀ߦ
߅ߌࠆ 0- ⚦⢩਄ PCVWTCNE[VQVQZKEKV[TGEGRVQTU ⊒⃻ߣ 0- ⚦⢩↥↢ࠨࠗ࠻ࠞࠗ
ࡦᣣᧄฃ⌕ળ⹹ ᣧᎹᥓᅚᕈ↢ᱺེߦ߅ߌࠆᗵᨴ㒐ᓮᯏ᭴ ࠝ࡯ࡃ࡯ࡆࡘ࡯*QTOQPG(TQPVKGTKP
)[PGEQNQI[   ᣧᎹᥓᧁਅఝሶේ࿃ਇ᣿ߩਇᅧ∝ߦኻߔࠆṽᣇ≮ᴺ↥ᇚੱ⑼ߩታ㓙   ৻ἑ⊕Ꮲ㧦ਇ⢒∝ߣಝ࿕ :+++ ࿃ሶ㧚ᣣᧄⴊᩖᱛⴊቇળ⹹㧘㧧  㧦
 ⒌ஜ৻㇢  ‫&ޟ‬0# ࡔ࠴࡞ൻߩ✂⟜⊛⸃ᨆ‫ޠ‬කቇߩ޽ࠁߺ ศᎹ෹┨ศጟ㕏㓶ႇ ᐽᄩ㧦࠽ࡁ☸ሶߩ⚦⢩ౝขࠅㄟߺߣ⚻⊹ᶐㅘ࠽ࡁ᧚ᢱߩ࡝
ࠬࠢ⹏ଔߣ቟ోᕈኻ╷ࡈࡠࡦ࠹ࠖࠕ಴ 
KPRTGUU ਛ㊁᦭⟤㧘ฎᎹᄈ੫㧘᧖ᶆ⌀ᑿ㧘የፒᐽᒾ㧘ർ᛬⃨ᄩ㧘ᄢᨋિᄥ㇢㧚ᛥ߁ߟࠍ઻
߁ਇ⢒∝ᖚ⠪ߩࠬ࠻࡟ࠬߣ⹺⍮ⴕേ≮ᴺߦࠃࠆᡷༀᣣᧄ๟↥ᦼᣂ↢ఽቇળ㔀⹹&GE Ꮞ  ภ R ᧖ ବ㓉‫ޕ‬ਇ⢒∝ߣ⥄Ꮖ఺∉ᕈ
VJTQODQRJKNKC㧔᛫࡝ࡦ⢽⾰᛫૕‫ޔ‬᛫╙ :++࿃ሶ᛫૕‫ޔ‬᛫ࠠ࠾ࡁ࡯ࠥࡦ᛫૕㧕‫ⴊޕ‬ᩖᱛⴊ⹹ ᧖ ବ㓉‫ޕ‬᛫ RJQURJCVKF[NGVJCPQNCOKPG
᛫૕ߣ᛫╙ :++ ࿃ሶ᛫૕‫ޕ‬කቇߩ޽ࠁߺ‫ޕ‬
KPRTGUU  ᧖ ବ㓉‫ޕ‬⠌ᘠᵹ↥ߣⴊᶧಝ࿕㒖ኂ⮎‫ޕ‬↥⑼ߣᇚੱ⑼‫ ޕ‬KPRTGUU  ቇળ⊒⴫
5CKVQ5㧦4GIWNCVQT[6CPF0-EGNNUFWTKPIRTGIPCPE[/GEJCPKUOU#UUQEKCVGFYKVJ4GRTQFWEVKXG1TICPU㧦4GNGXCPEGKP(GTVKNKV[CPFKP5GZWCNN[6TCPUOKVVGF+PHGEVKQPU+PVGTPCVKQPCN%QPITGUUQH$KQKOOWPQTGIWNCVQT[0CVKQPCN+PUVKVWVGQH+OOWPQNQI[0GY&GNJK+PFKC 5CKVQ5㧦4GIWNCVQT[6CPF0-EGNNUFWTKPIRTGIPCPE[+7255CVGNNKVG5[ORQUKWOQP'PFQOGVTKCN4GEGRVKXKV[CPF$NCUVQE[UV+ORNCPVCVKQP-[QVQ
5CKVQ5㧦4GIWNCVQT[6CPF0-EGNNUFWTKPIRTGIPCPE[ VJ 'WTQRGCP %QPITGUU QP
4GRTQFWEVKXG+OOWPQNQI[
/CTCVJQP)TGGEG +PXKVGF 
0CMCUJKOC#6CVGOCVUW/5CKVQ5㧦6JGTQNGQHCWVQRJCI[QPVJGKPXCUKQPQHGZVTCXKNNQWUVTQRJQDNCUV+PVGTPCVKQPCN(GFGTCVKQPQH2NCEGPVC#UUQEKCVKQPU
#FGNCKFG#WUVTCNKC

6CMCJCUJK'-CYCIWEJK46CPCMC6GVCN%NKPKECNCPCN[UGUHQTVTCPUKVKQPCNECUGUQHKPHGTVKNKV[CPFTGEWTTGPVRTGIPCPE[NQUU  VJ%QPHGTGPEGQH
+PVGTPCVKQPCN(GFGTCVKQPQH2NCEGPVCN#UUQEKCVKQP 㧔#FGNCKFG
#WUVTCNKC㧕㧚
7OGJCTC0-CYCIWEJK46CPCMC6GVCN
6JGTCRGWVKEQWVEQOGKPTGEWTTGPVURQPVCPGQWUCDQTVKQPUYKVJCPVKRJQURJQNKRKFCPVKDQFKGUޯ6JG
KPHNWGPEGQHVKVGTUXCTKGVKGU
KUQV[RGURQUKVKXGPWODGTUQHCPVKRJQURJQNKRKFCPVKDQFKGUޯ 
VJ%QPHGTGPEGQH+PVGTPCVKQPCN(GFGTCVKQPQH2NCEGPVCN#UUQEKCVKQP㧔#FGNCKFG#WUVTCNKC㧕㧚 ;COCFC*  #PVKRJQURJQNKRKFCPVKDQFKGUKPETGCUGVJGTKUMQH
RTGIPCPE[KPFWEGFJ[RGTVGPUKQPCPF
CFXGTUGRTGIPCPE[QWVEQOGUTF5QEKGV[HQT)[PGEQNQIKE+PXGUVKICVKQP+PVGTPCVKQPCN5WOOKV̌2TGGENCORUKC̍0QXGODGT
5GPFCK㧔ࠪࡦࡐࠫ࠙ࡓ㧕 ዊỈિᤩ‫ઁޔ‬㧦%[VQIGPGVKEKPXGUVKICVKQPQHOKUECTTKCIGD[&0#DCUGFCPCN[UKUEQODKPGFYKVJ(+5*CPCN[UKU㧔VJ#PPWCN/GGVKPIQHVJG'WTQRGCP5QEKGV[QH*WOCP
4GRTQFWEVKQPCPF'ODT[QNQI[㧕 +YCUCYC;-CYCPC-(WLKK60CICOCVUW
6/CVUWOQVQ,/KWTC5;COCUJKVC6
*[QFQ*-Q\WOC56CMGVCPK;#
RQUUKDNGRCVJQIGPKEOGEJCPKUOQH
TGEWTTGPVOKUECTTKCIGCUUQEKCVGFYKVJǪIN[EQRTQVGKP+FGRGPFGPVCPVKRJQURJQNKRKFCPVKDQF[VJTQWIJVJG
HWPEVKQPQH%&FVJ#PPWCN/GGVKPIQH6JG#OGTKECP5QEKGV[HQT
4GRTQFWEVKXG+OOWPQNQI[1TNCPFQ(.
75#
 +YCUCYC;-CYCPC-/KWTC5(WLKK6
#PQXGNRCVJQIGPKEOGEJCPKUOQH
TGEWTTGPVOKUECTTKCIGCUUQEKCVGFYKVJǪIN[EQRTQVGKP+FGRGPFGPVCPVKRJQURJQNKRKFCPVKDQF[VJTQWIJ%&F
QPVJGVTQRJQDNCUVVJ+PVGTPCVKQPCN%QPITGUUQH/WEQUCN+OOWPQNQI[$QUVQP/#75#
 5CVC(;COCFC*0CMCQ*/KPCMCOK*-KUJK4+OCK*.KHGUV[NGRJ[UKECNDWTFGPCPFCPZKGV[KPRTGIPCPVYQOGPCPF
TGEWTTGPVRTGIPCPE[NQUUUV+PVGTPCVKQPCN%QPHGTGPEGQH'PXKTQPOGPVCN'RKFGOKQNQI[&WDNKP+TGNCPF#WIWUV
 /KVQEJQPFTKCIGPQOG415CPFEGNNWNCTHWPEVKQPU&QPIEJQP-CPI +PXKVGFURGCMGT 
5(44 5QEKGV[QH(TGG4CFKECN4GUGCTEJ 

11



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12

+PVGTPCVKQPCN(TGG4CFKECN5EJQQNKP
,CRCP5GRVGODGT ;W\CYC
0KKICVC +ORQTVCPEGQH/KVQEJQPFTKCN)GPQOGKP%GNNWNCT(WPEVKQPU&QPIEJQP-CPI +PXKVGF
URGCMGT5[ORQUKWO/KVQEJQPFTKCN&[UHWPEVKQP%GNN.KHGCPF&GCVJ&GEKUKQPU 6JGUV#PPWCN/GGVKPIQHVJG
-QTGCP5QEKGV[QH/QNGEWNCTCPF%GNNWNCT$KQNQI[ -5/%$ 1EVQDGT 5GQWN-QTGC 
5QWTK/+YCVC*<JCPI9)0CMCICMK6+EJKPQUG#ǫ)NWVCO[NECTDQZ[NCUGKU
CECTIQTGEGRVQTHQTXKVCOKP-FGRGPFGPVRTQVGKPU::++
+PVGTPCVKQPCN5QEKGV[QP6JTQODQUKUCPF*CGOQUVCUKU +56* %QPITGUUYKVJVJ#PPWCN5EKGPVKHKECPF
5VCPFCTFK\CVKQP%QOOKVVGG 55% /GGVKPI,WN[$QUVQP/#
75#
-GPKEJKTQ *CVC  4QNGU QH IGPQOKEKORTKPVKPI KP TGRTQFWEVKQP 6JG VJ%QPHGTGPEGQHVJG2CEKHKE4KO5QEKGV[HQT
(GTVKNKV[CPF5VGTKNKV[6CKRGK#WIWUV
-GKEJKTQ*CVC'RKIGPGVKEUKP
CDPQTOCNRTGIPCPEKGU6JGVJ%QPHGTGPEGQHVJG2CEKHKE4KO5QEKGV[HQT(GTVKNKV[CPF5VGTKNKV[6CKRGK#WIWUV;QUJKMCYC60CDGUJK*/CVUW[COC-
0CMC\CVQ;+OC\CYC6;QUJKQMC;
#DG;-CYCK;/C[WOK6+VQJ0
6UWPQFC56UWVUWOK;+PXKVTQ
PCPQVQZKEQNQIKECNUVWF[QHUKNKECPCPQRCTVKENGUWUKPIFGTOCNEGNNNKPGU
6JGVJ%QPITGUUQHVJG'WTQRGCP
5QEKGVKGUQH6QZKEQNQI[ 'WTQ6QZ &TGUFGP )GTOCP[ 5GRVGODGT
0CDGUJK*;QUJKMCYC6/CVUW[COC-
0CMC\CVQ;+OC\CYC6;QUJKQMC;
#DG;-CYCK;/C[WOK6+VQJ0
6UWPQFC56UWVUWOK;'XCNWCVKQPQH
UK\GFGRGPFGPVCEWVGVQZKEKV[CPF
VQZKEQMKPGVKEUQHCOQTRJQWUPCPQUKNKECU











6JGVJ%QPITGUUQHVJG'WTQRGCP
5QEKGVKGUQH6QZKEQNQI[ 'WTQ6QZ &TGUFGP )GTOCP[ 5GRVGODGT/CVUW[COC-;QUJKMCYC60CDGUJK*
0CMC\CVQ;+OC\CYC6;QUJKQMC;
#DG;-CYCK;/C[WOK6+VQJ0
6UWPQFC56UWVUWOK;'XCNWCVKQPQH
UK\GFGRGPFGPVKPVTCEGNNWNCTFKUVTKDWVKQPCPFIGPQVQZKEKV[QH
COQTRJQWUPCPQUKNKECUKPJWOCPMGTCVKPQE[VGU6JGVJ%QPITGUUQHVJG
'WTQRGCP5QEKGVKGUQH6QZKEQNQI['WTQ6QZ &TGUFGP )GTOCP[ 
5GRVGODGT
0CMC\CVQ;;QUJKMCYC60CDGUJK*/CVUW[COC-+OC\CYC6;QUJKQMC;
#DG;-CYCK;/C[WOK6+VQJ0
6UWPQFC56UWVUWOK;&KHHGTGPVKCNCEWVGVQZKEKV[CPFVQZKEQMKPGVKEUQH
COQTRJQWUPCPQUKNKECU6JGTQNGQHUWTHCEGRJ[UKEQEJGOKECNRTQRGTVKGU6JG
VJ%QPITGUUQHVJG'WTQRGCP5QEKGVKGUQH
6QZKEQNQI[ 'WTQ6QZ &TGUFGP )GTOCP[ 5GRVGODGT;QUJKQMC;/QTKUJKIG66CPCDG#
6UWVUWOK;/WMCK;1MCFC00CMCICYC
50CPQUKNKECUYKVJFKHHGTGPVUK\GUCPF
UWTHCEGEJCTIGUKPFWEGFKHHGTGPVRTQHKNGU
QHE[VQMKPGRTQFWEVKQPQPOCETQRJCIGU
6JGVJ%QPITGUUQHVJG'WTQRGCP
5QEKGVKGUQH6QZKEQNQI[ 'WTQ6QZ &TGUFGP )GTOCP[ 5GRVGODGT
-QKEJK6CMCMWYC6CTQ0QPCMC/COK#MCUJK+\WOK1QMK-GPKEJK6CPCMC
5VWFKGUQPVJGRTQRJ[NCEVKEVJGTCR[HQT
RCVKGPVUYJQJCFGZRGTKGPEGFUGXGTG
RTGGENCORUKCRQUKVKXGHQT
CPVKRJQURJQNKRKFCPVKDQFKGUWUKPI5CKTGKVQNQYFQUGCURKTKPCPF
RTGFPKUQNQPGTF+PVGTPCVKQPCN5WOOKV2TGGENCORUKC ᐕ  ᦬  ᣣ ᣣ‫ޔ‬઄บᏒ‫ޕ‬㥲⮮ ṑ㧦ࡢ࡯࡚ࠢࠪ࠶ࡊ ‫ޟ‬ਇ⢒∝ߩᣂߚߥේ࿃ត⚝ߣᴦ≮‫ᧄޠ‬㇌ߦ߅ߌࠆਇ⢒∝ߩ࡝ࠬࠢ࿃ሶߣߘߩ੍ᓟߦ㑐ߔࠆ⎇ⓥ
╙  ࿁ᣣᧄ๟↥ᦼ࡮ᣂ↢ఽකቇળ



















ฬฎደ㧔᜗ᓙ⻠Ṷ㧕ፉ෹ሶદ⮮ታ㚅ਛፉᓆବႮፒ᦭ብᢪ
⮮ṑ㧦ᅧᆼߦߪ⢝ఽ᛫ේ․⇣⊛೙ᓮᕈ6⚦⢩߇㑐ਈߔࠆ╙  ࿁ᣣᧄ↥ᇚੱ⑼ቇળቇⴚ
⻠Ṷળ੩ㇺ ࡐࠬ࠲࡯⊒⴫ ፉ෹ሶદ⮮ታ㚅ਛፉᓆବႮፒ᦭ብ
ᢪ⮮ṑ㧦ᅧᆼሶችߦߪ⢝ఽ᛫ේ․⇣⊛೙
ᓮᕈ6⚦⢩߇Ⴧടߔࠆ╙  ࿁ᣣᧄ↢ᱺ఺∉ቇળቇⴚ㓸ળ᧲੩ ቇⴚᅑബ⾨ ฦോ⌀♿ዊᴰᥓᕺ═ේ㤗㉿ዊỈિᤩႦේఝᏆਭ଻㓉ᒾᏀวᴦᒾർ
Ꮉ㆏ᒄฬข㆏਽ਣጊືᄦศ᧛ᵏౖਇ቟࡮ᛥ߁ߟ௑ะߩ㜞޿ᅧ↥ᇚߩ⢛᥊࿃ሶߣᡰេߩᔅⷐᕈߦߟ޿ߡ╙  ࿁ ᣣᧄ↥⑼ᇚੱ⑼ቇળ੩ㇺᐭ੩ㇺᏒ࡮࿖┙੩ㇺ࿖㓙ળ㙚
㥲⮮ ṑ↰ਛᔘᄦ⮮੗⍮ⴕ᧖ ବ㓉ਣጊືᄦᧄ㇌ߦ߅ߌࠆਇ⢒∝ߩ࡝ࠬࠢ࿃ሶߣߘߩ੍ᓟߦ㑐ߔࠆ⎇ⓥ╙ ࿁ ᣣᧄ๟↥ᦼ࡮ᣂ↢ఽකቇળᗲ⍮⋵ฬฎደᏒ࡮ฬฎደ࿖㓙ળ⼏႐

ජઍ↰㆐ᐘਣጊືᄦዊ↰⧷ਯฦോ
⌀♿⷏Ꮉ᣿⧎ౝ↰ ᶈ↰ਛ ቞㕍ᧁᄢテศ᧛ᵏౖⶄᢙߩว૬∝ࠍ⊒∝ߒߚ᛫࡝ࡦ⢽⾰᛫૕∝୥⟲ᅧᇚߩ৻଀
╙  ࿁ᣣᧄ↥⑼ᇚੱ⑼ቇળ㑐᧲ㅪว࿾ᣇㇱળ᧲੩ㇺජઍ↰඙࡮ㇺᏒ࠮ࡦ࠲࡯
ࡎ࡯࡞
᧖ᶆ⌀ᑿ㕍ᧁ⠹ᴦ⮮੗⍮ⴕ⮮↰ን㓶Ꮉญ㉿ᕺਣጊືᄦዊỈિᤩ᧖
ବ㓉┻ਅବⴕ㥲⮮ ṑᨴ⦡૕ォᐳࠍ߽ߟ෻ᓳᵹ↥ᖚ⠪ߩᰴ࿁↢ఽ₪ᓧ₸̅ઁᣉ⸳౒ห⎇ⓥ╙  ࿁ ᣣᧄੱ㘃ㆮવቇળ␹ᄹᎹ⋵ᮮᵿᏒ࡮ࡄࠪࡈࠖࠦᮮᵿ
ળ⼏࠮ࡦ࠲࡯
㜞ᯅ⛗㉿㧘Ꮉญ㉿ᕺ㧘↰ਛᔘᄦ㧘ઁ㧚ਇᅧ∝ߣਇ⢒∝㧘ߘߩ⒖ⴕ∝଀ߩ⥃ᐥ⊛⸃ᨆ㧚╙  ࿁ ᣣᧄ↥⑼ᇚੱ⑼ቇળቇⴚ⻠Ṷળ㧔੩ㇺ㧕㧚ጊ↰⑲ੱ㧔㧕ਇ⢒∝ߩේ࿃࡮ᴦ≮ߣᣂߚߥዷ㐿㧚ർᶏ㆏↥ᇚੱ⑼කળ࠙ࠛ࡞ࠞࡓ
ࠟࠗ࠳ࡦࠬቇⴚ⎇ୃળ㧔․೎⻠Ṷ㧕㧘 ᦬ ᣣ㧘ᧅᏻ ጊ↰⑲ੱ㧔㧕᛫࡝ࡦ⢽⾰᛫૕ߪ↥⑼⇣Ᏹ㧘․ߦᅧᆼ㜞ⴊ࿶∝୥⟲ߣ㑐ㅪߔࠆ㧚╙ ࿁๟↥ᦼ࡮ᣂ↢ఽකቇળቇⴚ㓸ળ㧔ࡢ࡯࡚ࠢࠪ࠶ࡊ ਇ⢒∝ߩᣂߚߥේ࿃ត⚝ߣᴦ≮㧕㧘 ᦬  ᣣ㧘ฬฎደ ጊ↰⑲ੱ㧔㧕ਇ⢒∝ߩේ࿃࡮ᴦ≮ߣㅴዷ㧚૏⢒ળ⥃ᐥ࠮ࡒ࠽࡯㧔․೎⻠Ṷ㧕㧘᦬  ᣣ㧘␹ᚭ ጊ↰⑲ੱ㧔㧕ਇ⢒∝ක≮ߣߪ㧚ዦፒᏒ↥ᇚੱ⑼කળቇⴚ⻠Ṷળ㧔․೎⻠Ṷ㧕㧘᦬  ᣣ㧘ዦፒ ጊ↰⑲ੱ㧔㧕⥄Ꮖ఺∉∔ᖚว૬ᅧᆼߩ
▤ℂ㧚౓ᐶ⋵๟↥ᦼක≮⎇ୃળ㧔․೎⻠Ṷ㧕㧘 ᦬  ᣣ㧘␹ᚭ ዊỈિᤩ‫ઁޔ‬㧦ࠕ࡟ࠗ%)*ߦࠃࠆಽᨆ㧔╙࿁ᣣᧄੱ㘃ㆮવቇળ㧕 ዊỈિᤩ‫ઁޔ‬㧦ᄦᇚᨴ⦡૕⇣Ᏹߣ⢝ఽᨴ⦡૕⇣Ᏹ㧔╙  ࿁ᣣᧄ๟↥ᦼ࡮ᣂ↢ఽකቇળ㧕
 ⩵ᳰ↱ടሶ㧘᧻↰⟤๺㧘ᷡ᳓ᕺሶ㧘ዊ⼱ᣧ⪲ሶ㧘㎨↰ᵏᒾ㧘ᐔ᧻␭ม㧘ਛႦᐙ਽㧚ਇ⢒∝ߦ߅ߌࠆవᄤᕈሶችᒻᘒ⇣Ᏹߣᅧᆼ੍ᓟ㧚╙  ࿁ᣣᧄ๟↥ᦼ࡮ᣂ↢ఽකቇળ  ᐕ  ᦬ 㨪 ᣣ㧚 ਛ㊁⵨ሶ㧘⩵ᳰ↱ടሶ㧘૒‫ᧁޘ‬ᗲሶ㧘᧻↰⟤๺㧘ዊ⼱ᣧ⪲ሶ㧘ᷡ᳓ᕺሶ㧘㎨↰ᵏᒾ㧘ਛႦᐙ਽㧘ᐔ᧻␭ม㧚᛫ಝ࿕≮ᴺ߇ᄼഞߖߕᴦ≮ߦ⧰ᘦߒߚਇ⢒∝ߩ㧝଀㧚╙  ࿁ᣣᧄ↥⑼ᇚੱ⑼ቇળਛ࿖྾࿖วห࿾ᣇㇱળ ᐕ  ᦬ 㨪 ᣣ㧚 ᳯ⷗ᒎ↢㧘૒‫ᧁޘ‬ᗲሶ㧘᧻↰⟤๺㧘⒌ਭ⟤ሶ㧘ᄢ⼱෹ᄐ㧘ਛႦᐙ਽㧚ਇ⢒∝ᒰ੐⠪ߩᕁ޿㧙ࡇࠕࠨࡐ࡯࠻ࠣ࡞࡯ࡊ߳ߩ౉ળᤨࠕ
ࡦࠤ࡯࠻ࠃࠅ㧙㧚╙  ࿁Უᕈⴡ↢ቇળ ᐕ  ᦬ 㨪 ᣣ㧚 㔍ᵄᴕ↱㉿㧘⍫౷⨒㧘ਭਅߐߊࠄ㧘ਃ⼱ਭ⟤ሶ㧘ᅏ᧛᳗㉿ሶ㧘ᳯ⷗ᒎ↢㧘ਛႦᐙ਽㧚ਇ⢒∝ߩࡋࡄ࡝ࡦᴦ≮㧦ක≮ࠬ࠲࠶ࡈߦࠃ
ࠆᵈ኿ߣ⥄Ꮖᵈ኿ߣߩ⽶ᜂߩᲧセ╙  ࿁Უᕈⴡ↢ቇળ  ᐕ  ᦬ 㨪 ᣣ㧚 ⍫౷⨒㧘ਭਅߐߊࠄ㧘ਃ⼱ਭ⟤ሶ㧘ᅏ᧛᳗㉿ሶ㧘㔍ᵄᴕ↱㉿㧘☨⮮↱⾆㧘ᳯ⷗ᒎ↢㧘ਛႦᐙ਽㧚ᵹᱫ↥ᤨߩⅣႺ㧘ක≮ࠬ࠲࠶ࡈߩኻᔕߣߘߩᓟߩਇ⢒∝ᅚᕈߩᔃℂ㧚╙ ࿁Უᕈⴡ↢ቇળ  ᐕ  ᦬ 㨪 ᣣ㧚 ᓟ⮮↱૫㧘ᅏ↰ඳਯ㧘ਛႦᐙ਽ᅚᕈߩᔃ

13

















14

ᜉᄌേߣ␹⚻∝ߣߩ㑐ㅪ㧚╙  ࿁ᣣᧄ⥄ᓞ␹⚻ቇળ  ᐕ  ᦬ 㨪 ᣣᳯ⷗ᒎ↢㧘⩓ᅤᜆ㧘᧻↰⟤๺㧘ᷡ᳓ᕺሶ㧘ዊ⼱ᣧ⪲ሶ㧘⩵ᳰ↱ടሶ㧘㎨↰ᵏᒾ㧘ᐔ᧻␭ม㧘ਛႦᐙ਽㧚ਇ⢒∝∝଀ߦ߅ߌࠆೋ⸻
ᤨߩ㗼࿷ᕈਇ቟ߩᬌ⸛㧚╙  ࿁ጟጊ⋵Უᕈⴡ↢ቇળ  ᐕ  ᦬  ᣣ㧚ᳯ⷗ᒎ↢㧘⩓ᅤᜆ㧘᧻↰⟤๺㧘⩵ᳰ↱ടሶ㧘ዊ⼱ᣧ⪲ሶ㧘ᷡ᳓ᕺሶ㧘૒‫ᧁޘ‬ᗲሶ㧘㎨↰ᵏᒾ㧘ਛႦᐙ਽㧚ਇ⢒∝ᅚᕈߩᛥ߁ߟ௑ะ
ߣ㗼࿷ᕈਇ቟ߩ⹏ଔ㧚╙  ࿁ᣣᧄ↢ᱺකቇળ  ᐕ  ᦬ 㨪 ᣣ㧚↰ᷗ๺ብ㧘ਛႦᐙ਽㧘ᷡ᳓ᕺሶ㧘⩓ᅤᜆ㧘᧻↰⟤๺㧘⩵ᳰ↱ടሶ㧘ዊ⼱ᣧ⪲ሶ㧘%JGDKD%JGMKT㧘૒‫ᧁޘ‬ᗲሶ㧘㎨↰ᵏᒾ㧘ᐔ᧻␭ม㧚ਇ⢒∝∝଀ߦ߅ߌࠆẜ࿷ᕈ㜞ࡊࡠ࡜ࠢ࠴ࡦ
ⴊ∝ߩᬌ⸛㧚╙  ࿁ᣣᧄ↢ᱺකቇળ ᐕ  ᦬ 㨪 ᣣ㧚ጟፒ୶ሶ㧘ਛႦᐙ਽㧘⩵ᳰ↱ടሶ㧘↰ᷗ๺ብ㧘⩓ᅤᜆ㧘᧻↰⟤๺㧘ዊ⼱ᣧ⪲ሶ㧘ᷡ᳓ᕺሶ㧘%JGDKD%JGMKT㧘૒‫ᧁޘ‬ᗲሶ㧘㎨↰ᵏᒾ㧘ᐔ᧻␭ม㧚ਇ⢒∝∝଀ߦ߅ߌࠆࠕ࠶ࠪ
ࡖ࡯ࡑࡦ∝୥⟲ߩᬌ⸛㧚╙  ࿁ᣣᧄ↢ᱺකቇળ  ᐕ  ᦬ 㨪 ᣣ㧚↰ᷗ๺ብ㧘⩵ᳰ↱ടሶ㧘ᳯ⷗ᒎ↢㧘ࠪࠚࠠ࡞࡮ࠪࠚࡆࡉ㧘ࠨ࡞࡜㧘ዊ⼱ᣧ⪲ሶ㧘ᷡ᳓ᕺሶ㧘᧻↰⟤๺㧘૒‫ᧁޘ‬ᗲሶ㧘㎨↰ᵏᒾ㧘ᐔ᧻␭ม㧘ਛႦᐙ਽㧚ਇ⢒∝ᅚᕈߦ߅ߌࠆ
఺∉ቇ⊛ᬌᩏ⇣Ᏹߣ᳇ಽࡊࡠࡈࠖ࡯࡞㧚╙ ࿁ᣣᧄ↢ᱺ఺∉ቇળ  ᐕ  ᦬ 㨪ᣣ㧚ർ᧛᪸⚓‫╴ޔ‬੗ᑪ♿‫⇌↰ޔ‬⍮ᴕ‫ޔ‬ᾢỈᕺ৻‫ޔ‬ᷰㄝቱା‫ޔ‬ᩮ᧪⧷ౖ‫ᦺޔ‬㊁ਭ⟤ሶ‫ޔ‬ᒛᘮ‫᧘ޔ‬ᬮ‫↰⩆ޔ‬๺⑲‫᧛ᧁޔ‬ᱜ⥄ὼᅧᆼ࡮ಽᇂᱧߩ޽ࠆ෻ᓳᵹ↥∝଀ߦߟ޿ߡߩᬌ⸛╙  ࿁ᣣᧄ↢ᱺකቇળᐔᚑ ᐕ  ᦬  ᣣጤỈ᦭ᏗᎹฬᢘ⮮੗⍮ⴕ᳗᧻ஜ᧻
ᧄ㗅ሶਃᶆ⚡଻ศ↰ᔒᦶ౓⮮ඳାጊਅ㓉ඳ਄ᆄᔒ㇢ᱞ⼱㓶ੑ⛐Ძ⚦⢩਄ߦሽ࿷ߔࠆ࡝ࡦ⢽⾰᛫ේឭ␜ಽሶ
‫ޟ‬%&F‫ޔߚߒ੺ࠍޠ‬ǪIN[EQRTQVGKP+ଐሽᕈ᛫࡝ࡦ⢽⾰᛫૕ߦࠃࠆᣂⷙᵹ↥ࡔࠞ࠾࠭ࡓߦ㑐ߔࠆᬌ⸛╙  ࿁ᣣᧄ↥⑼ᇚ
ੱ⑼ቇળ✚ળ࡮ቇⴚ⻠Ṷળ੩ㇺ ጊᧄ᮸↢╙  ࿁ᣣᧄ↢ᱺ఺ᓎቇળ
 ᐕ  ᦬ ࡒ࠻ࠦࡦ࠼࡝ࠕ∛ߣࡒ࠻ࠦࡦ࠼࡝ࠕ &0#ᐽ ᧲ᄤ 㧔᜗ᓙᢎ⢒⻠Ṷ㧕╙  ࿁ᣣᧄ⥃ᐥൻቇળᐕᰴቇⴚ㓸ળ㧔㐳ፒ㧕 ᐕ ᦬  ᣣ㧙 ᣣ ᩮጯᱜታᴰᵏਯᄢፉᢎሶⒷ⪲ᙗਯᣧᎹᥓ 6J ࠨࠗ࠻ࠞࠗࡦߪࡅ࠻⣕⪭⤑࡝ࡦࡄ⃿ߩ .25 ᗵฃᕈࠍ੣ㅴߔࠆ ╙ ࿁ᣣᧄ⥃ᐥ఺∉ቇળ  ᦬  ᣣ ᧲੩ ጤ↰ብ♿㧘᧖ᶆ⌀ᑿ㧘৻ἑ⊕Ꮲ㧦ᱜᏱᅧᆼߣਇ⢒∝ߦ߅ߌࠆࡊࡠ࠹ࠗࡦ < ߅ࠃ߮ࡊࡠ࠹ࠗࡦ < ଐሽᕈࡊࡠ࠹ࠕ࡯࠯ࠗࡦࡅ
ࡆ࠲࡯ߩേᘒ㧚╙  ࿁ 66/ ࡈࠜ࡯࡜ࡓቇ
ⴚ㓸ળ㧘᧲੩㧦 ᐕ  ᦬  ᣣ ጤ↰ብ♿㧘᧖ᶆ⌀ᑿ㧘৻ἑ⊕Ꮲ㧦ᅧᆼ߅ࠃ߮ਇ⢒∝ߦ߅ߌࠆࡊࡠ࠹ࠗࡦ < ߅ࠃ߮ࡊࡠ࠹ࠗࡦ < ଐሽᕈࡊࡠ࠹ࠕ࡯࠯ࠗࡦࡅ
ࡆ࠲࡯ߩേᘒ㧚╙  ࿁ᣣᧄⴊᩖᱛⴊቇળ
ቇⴚ㓸ળ㧘ർ਻Ꮊ㧧 ᐕ  ᦬  ᣣ ᗉቝ೑ᱜༀ㧘ጤ↰ብ♿㧘ᒛ உశ㧘ਛ၂ᥓᒄ㧘৻ἑ⊕Ꮲ㧦⠡⸶ᓟୃ㘼෻ᔕࠍ⸅ᇦ
ߔࠆǫࠣ࡞࠲ࡒ࡞ࠞ࡞ࡏࠠࠪ࡜࡯࠯ߪၮ
⾰࠲ࡦࡄࠢ⾰ߩ⚦⢩ౝャㅍߦ߅ߌࠆⓍ⩄ฃኈ૕ߣߒߡ௛ߊ㧚╙  ࿁ጊᒻಽሶ↢‛ቇ࠮ࡒ࠽࡯㧘㢬ጟ㧧 ᐕ  ᦬  ᣣ
 ⒌ஜ৻㇢‫⇣↢⊒࠻ࡅޟ‬Ᏹߩࠛࡇࠫࠚࡀ࠹ࠖࠢ
ࠬ‫ޠ‬⢝↢ᦼࠛࡇࠫࠚࡀ࠹ࠖࠢࠬ⎇ⓥળ‫᧲ޔ‬੩‫ޔ‬ ᦬  ᣣ‫ޔ‬ ⒌ஜ৻㇢‫ޟ‬⢝ఽ࡮⢝⋚ಽൻ⊒⢒⇣Ᏹߩࠛࡇࠫ
ࠚࡀ࠹ࠖࠢࠬ 㧙✂⟜⊛ࠥࡁࡓ࡮ࠛࡇࠥࡁࡓ
⸃ᨆߩ⹜ߺ㧙‫ޠ‬ᣣᧄ๟↥ᦼᣂ↢ఽቇળࡢ࡯ࠢ
࡚ࠪ࠶ࡊਇ⢒∝ߩᣂߚߥේ࿃ត⚝ߣᴦ≮‫╙ޔ‬ ࿁ᣣᧄ๟↥ᦼ࡮ᣂ↢ఽකቇળቇⴚ㓸ળ‫ޔ‬ᮮᵿ‫  ᦬ ޔ‬ᣣ‫ޔ‬ ⒌ஜ৻㇢‫⇣ޟ‬Ᏹᅧᆼߩ GRKIGPGVKEU‫ ╙ޠ‬࿁ᣣᧄູ੃േ‛ෆሶቇળࡢ࡯࡚ࠢࠪ࠶ࡊ‫᧲ޔ‬੩‫  ᦬ ޔ‬ᣣ‫ޔ‬ ႇ ᐽᄩ㧦࠽ࡁࡑ࠹࡝ࠕ࡞ߩ቟ోᕈ⏕଻ࠍ⋡ᜰߒߡ╙  ࿁ᣣᧄ࠻ࠠࠪࠦࡠࠫ࡯ቇળቇ
ⴚᐕળጤᚻ㧔⋓ጟ㧕 ᐕ  ᦬ ႇ ᐽᄩ㧦࠽ࡁࡑ࠹࡝ࠕ࡞ߩ቟ో⏕଻ߦ
ะߌߚ 0CPQ6QZ ⎇ⓥߩᦨ೨✢㧔1XGTXKGY㧕ᣣᧄ⮎ቇળ╙  ᐕળጟ
ጊ ᐕ  ᦬㧔੍ቯ㧕 ⢻ખᄥ㇢‫ޔ‬᣿⍹⌀⟤‫ޔ‬ᄢᧁᴰ‫ޔ‬㜞᪀ᅢ৻‫ޔ‬↰ਛᙗ৻㧦⠌ᘠᵹ↥ߦ߅ߌࠆ %[VQEJTQOG
2 %;2# ෸߮ )NWVCVJKQPG
5VTCPUHGTCUG )56U ߩㆮવሶᄙဳߦ㑐ߔࠆ⸃ᨆ‫  ╙ޔ‬࿁ᣣᧄ↥⑼ᇚੱ⑼ቇળ‫ޔ‬ᐕ  ᦬  ᣣ‫ޔ‬੩ㇺᏒ‫ޕ‬ ᣿⍹⌀⟤‫ޔ‬⢻ખᄥ㇢‫ޔ‬ᄢᧁᴰ‫ޔ‬㜞᪀ᅢ৻‫ޔ‬↰ਛᙗ৻㧦ਇ⢒∝ߦ߅ߌࠆ᛫ࡊࡠ࠹ࠗࡦ 5᛫૕ߩᗧ⟵ߦ㑐ߔࠆᬌ⸛‫  ╙ޔ‬࿁ᣣᧄ↥⑼
ᇚੱ⑼ቇળ‫ ޔ‬ᐕ  ᦬  ᣣ ᣣ‫ޔ‬੩ㇺᏒ‫ޕ‬ ⢻ખᄥ㇢‫ޔ‬᣿⍹⌀⟤‫ޔ‬ᄢᧁᴰ‫ޔ‬㜞᪀ᅢ৻‫ޔ‬↰ਛᙗ৻㧦⠌ᘠᵹ↥ߦኻߔࠆ఺∉≮ᴺߩ᦭ലᕈߦ㑐ߔࠆᬌ⸛ 㧙․ߦᐕ㦂ߦࠃࠆ᦭ല
ᕈߩᏅ⇣ߦ㑐ߔࠆᬌ⸛‫  ╙ޔ‬࿁ᣣᧄ↢ᱺකቇળ‫ ޔ‬ᐕ  ᦬  ᣣ‫ ޔ‬ᣣ‫ޔ‬㊄ᴛᏒ‫ޕ‬ ਛ㊁᦭⟤㧘ฎᎹᄈ੫㧘᧖ᶆ⌀ᑿ㧘የፒᐽᒾ㧘ർ᛬⃨ᄩ㧘ᄢᨋિᄥ㇢㧚ᛥ߁ߟࠍ઻
߁ਇ⢒∝⠪ߩࠬ࠻࡟ࠬ╙  ࿁ᣣᧄ๟↥ᦼ࡮ᣂ↢ఽකቇળ ࡢ࡯࡚ࠢࠪ࠶ࡊ ਇ⢒∝ߩᣂߚߥේ࿃ត⚝ߣᴦ≮
,WN[
 ਛ㊁᦭⟤㧘ฎᎹᄈ੫㧘᧖ᶆ⌀ᑿ㧘ᛥ߁ߟࠍ઻߁ਇ⢒∝ᖚ⠪ߦኻߔࠆ♖␹≮ᴺ╙ ࿁ᣣᧄ⹺⍮≮ᴺቇળ1EV ᧖ ବ㓉‫ޕ‬᛫૕ᬌᩏ‫≮ࡦ࡝ࡄࡋޔ‬ᴺ‫╙ޕ‬ ࿁ᣣᧄ↥⑼ᇚੱ⑼ቇળ㑐᧲ㅪว࿾ᣇ
ㇱળ‫ޕ‬ㇺᏒ࠮ࡦ࠲࡯ࡎ࠹࡞‫ޕޕ‬㧔ࠪࡦࡐࠫ࠙ࡓ㧕 ᧖ ବ㓉‫ޕ‬ਇ⢒∝ᖚ⠪ߩⴊዊ᧼ಝ㓸⢻ߩᬌ⸛̅ ࡟࡯ࠩг ᢔੂ☸ሶ⸘᷹ᴺࠍ↪޿ߚᬌ⸛̅ ‫  ╙ޕ‬࿁ᣣᧄ↢ᱺ఺∉ቇળ‫ޕ‬੩₺ࡊ࡜ࠩࡎ࠹࡞‫ޕޕ‬㧴㧚⍮⊛⽷↥ߩ಴㗿࡮⊓㍳⁁ᴫ㧔੍ቯࠍ฽߻‫ޕ‬㧕 ․⸵ขᓧߥߒ ታ↪ᣂ᩺⊓㍳ߥߒ ߘߩઁ
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