20 18 () 18.6 16 14 12 10 11.2 8 6 4 4.9 2 0 1991 1996 2001 2006 2011 2016 () 1 219931993SNA19942008SNA IMF World Economic Outlook, October 2017
19891993SNA199520162008SNA IMF World Economic Outlook, October 2017
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6,000 4,000 4,227 4,502 2,967 4,189 3,163 4,689 3,348 5,627 3,739 4,790 4,826 3,546 3,694 3,250 4,259 3,122 4,000 3,500 2,000 0 2,293 706 383 701 772 677 145 47 143 910 600 634 329 813 222 472 848 885 860 289 130 2,000 4,000 3,852 09/3 10/3 11/3 12/3 13/3 14/3 15/3 16/3 17/3 18/3
200 179 20 150 139 107 105 100 50 40 36 0 BTMU SMBC SMTB 12
1 2017/3 2016/3 14,102 100.0% 12,235 86.8% 866 6.1% 1,000 7.1% 993 7.0% 24 0.2% 14,520 100.0% 13,610 93.7% 911 6.3% 1 0.0% 14 0.1% 18 0.1% 418 1,375 45 +1,002 +1,008 43 1 10,561 10,661 100 0 0 3,540 3,858 317 879 961 81 829 938 109 4,420 4,819 399 3,122 3,250 128 2 2017/3 2016/3 2,095,688 100.0% 512,819 24.5% 4,700 0.2% 87,189 4.2% 38,179 1.8% 1,387,924 66.2% 40,641 1.9% 1,977,887 100.0% 1,794,346 90.7% 136,942 6.9% 117,800 100.0% 87,296 74.1% 30,504 25.9% 2,070,560 100.0% 458,950 22.2% 9,788 0.5% 79,232 3.8% 35,611 1.7% 1,440,768 69.6% 25,420 1.2% 1,955,478 100.0% 1,778,719 91.0% 131,235 6.7% 115,081 100.0% 86,052 74.8% 29,028 25.2% +25,127 +53,868 5,088 +7,956 +2,567 52,843 +15,220 +22,408 +15,626 +5,707 +2,718 +1,243 +1,475
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12,739 2016/9 2016/12 2017/3 2017/12 15
20171218.29% % 70 60 56.81 2017 12 2017 3 % 88,036 86,169 1,867 50 40 30 20 38.42 26.38 22.22 18.29 481,141 387,798 93,342 452,808 359,065 93,743 18.29 22.22 3.92 10 0 20143 20153 20163 20173 201712 16
9A95% BBB 6.02% A 11.25% 0.76% BBB 1.25% 0.45% BBB 3.57% BBB 0.13% 0.17% 1.39% 12.65% 13.47% 72.47% 1 A 90.39% 20173 194 1 1 2 3 17
2 100 20173 20173 0 20 40 60 80 100 0 20,000 40,000 60,000 80.3 49,796 37.5 64.8 21.4% 26,089 16,203 22.1% 30.0 15,611 35.6 15,179 T&D 14.8 13,297 8.8 8,911 11.3 7,870 11.2 7,108 9.9 6,831 2016 18
1 2017.3: 2 6.3% 12.6% 47.4% 33.8% 6,000 5,000 4,000 3,000 2,000 1,000 0 14.2% 37.8% 48.0% 0 200 400 600 800 1,000 1,200 18.4% 13.1% 14.5% 4 35.7% 18.3% 20162017
1 2
% 17.3 17.12 17.3 3Q 18.3 3Q 17.3 575,812 71.7 546,563 70.8 427,323 53.2 404,037 52.3 92,268 11.5 87,930 11.4 2 56,220 7.0 54,596 7.1 79,637 9.9 91,634 11.9 1 16,260 2.0 20,582 2.7 1 3,090 0.4 3,581 0.5 510 463 785 1 1.73 % 1.71 % 1.73 % 2 1.83 % 1.80 % 1.84 % 372 4 511 1,2 60,286 7.5 67,139 8.7 80,609 10.0 9.9 67,309 8.4 57,235 7.4 15,160 1.9 1.3 35,207 4.4 28,029 3.6 803,367 100.0 771,817 100.0 10 16.12 17.12 17.3 0.040 % 0.045 % 0.065 % 116.49 113.00 112.19 1. 2. 1. 2.
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15.7 67.4
E 20,000 19,000 18,000 0 150 100 50 0 50 100 18,519 81 19,294 19,299 14 15 16 103 120 (%) 65.0 64.0 63.0 62.0 61.0 60.0 14 15 16 1 2 64.6 64.0 63.8 14 15 16 : 1. 2016102014 10 2. 700 600 0 527 580 632 14 15 16 1 2 201610 20183 20183 Web 3 50,300 4 192 5 201713 3. 4. 201712 5. 201712
19941 2,000 23 20124 1029 20158 28 20166 200 20176 300 20183 80
GLS B2BB2C ()
M&A 100M&A 0 CEO TNT DHLCEO CEO 20062014 EBIT One Toll
97,360 29,307 15,376 59,951 2,535 986 1,317 5,029 2.5% 3.5% 9.3% 7.7% 7,376 739 3,979 2,548 1,566 418 854 343 27.0% 130.8% 27.3% 15.6% 3,752 665 2,820 750 785 356 591 69 26.5% 115.5% 26.5% 10.3% 7,800 180 4,900 2,500 3Q 94.6% 410.7% 81.2% 102.0% 4,000 130 3,500 860 3Q 93.8% 511.6% 80.5% 87.2% 1 2 3
60.0 50.0 50.0 50.0 40.0 30.0 20.0 10.0 0.0 9.6 11.1 2014 3 2015 3 25.0 25.0 25.0 25.0 25.0 2016 3 9.1 10.4 25.7 2017 3 2018 3 51.0
Email: irshitsu.ii@jp-holdings.jp