{"id":1545,"date":"2020-10-13T09:51:47","date_gmt":"2020-10-13T00:51:47","guid":{"rendered":"https:\/\/kimera.jp\/?post_type=blog&#038;p=1545"},"modified":"2023-06-06T16:32:56","modified_gmt":"2023-06-06T07:32:56","slug":"%e3%82%b5%e3%83%96%e3%82%b9%e3%82%af%e3%83%aa%e3%83%97%e3%82%b7%e3%83%a7%e3%83%b3%e3%83%93%e3%82%b8%e3%83%8d%e3%82%b9%e3%82%92%e5%88%86%e6%9e%90%e3%81%97%e3%81%a6%e3%81%bf%e3%82%88%e3%81%86","status":"publish","type":"blog","link":"https:\/\/kurojica.com\/invoice\/blog\/1545\/","title":{"rendered":"\u30b5\u30d6\u30b9\u30af\u30ea\u30d7\u30b7\u30e7\u30f3\u30d3\u30b8\u30cd\u30b9\u306e\u53ce\u76ca\u306b\u3064\u3044\u3066\u3001\u52d5\u5411\u3092\u5206\u6790\u3057\u3066\u307f\u3088\u3046"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"\/invoice\/wp-content\/uploads\/2020\/10\/subscriptions_analysis-main-1024x538.png\" alt=\"\u30b5\u30d6\u30b9\u30af\u30ea\u30d7\u30b7\u30e7\u30f3\u30d3\u30b8\u30cd\u30b9\u3092\u5206\u6790\u3057\u3066\u307f\u3088\u3046\" class=\"wp-image-1794\"\/><\/figure>\n\n\n\n<p>\u3053\u3093\u306b\u3061\u306f\u3002<a href=\"\/invoice\/\" rel=\"noreferrer noopener\">\u300c\u30af\u30ed\u30b8\u30ab\u8acb\u6c42\u7ba1\u7406\u300d<\/a>\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u30c1\u30fc\u30e0\u306e\u82b1\u7530\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u30b5\u30d6\u30b9\u30af\u30ea\u30d7\u30b7\u30e7\u30f3\u30d3\u30b8\u30cd\u30b9\u3067\u751f\u307f\u51fa\u3059\u53ce\u76ca\u306f\u3001\u4f01\u696d\u304c\u5f93\u6765\u306e\u5148\u884c\u6295\u8cc7\u65b9\u6cd5\u3067\u5f97\u3066\u3044\u308b\u53ce\u76ca\u3088\u308a6\u500d\u306e\u4fa1\u5024\u304c\u3042\u308b\u3068\u3044\u308f\u308c\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u306f\u4e88\u6e2c\u53ef\u80fd\u306a\u53ce\u76ca\u306e\u6d41\u308c\u304b\u3089\u8907\u5408\u7684\u306a\u6210\u9577\u52b9\u679c\u3092\u751f\u3058\u308b\u304b\u3089\uff08<a href=\"https:\/\/www.salesforce.com\/content\/dam\/web\/ja_jp\/www\/documents\/ebook\/saas-founders-guide_JP.pdf\" target=\"_blank\" rel=\"noopener\" title=\"\">Salesforce\u300c\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u30ac\u30a4\u30c9\u300d<\/a>\u3088\u308a\uff09\u3067\u3059\u3002<\/p>\n\n\n\n<p>\u3053\u3053\u3067\u306f\u3001Adobe\u306e\u6210\u9577\u3092\u30b5\u30d6\u30b9\u30af\u30ea\u30d7\u30b7\u30e7\u30f3\u306e\u4e3b\u8981KPI\u306e\u3046\u3061\u5e74\u9593\u7d4c\u5e38\u53ce\u76ca\uff08ARR\uff09\u3001\u6210\u9577\u52b9\u7387\u6027\u6307\u6a19\uff08GEI\uff09\u3001\u304a\u3088\u3073\u7d4c\u5e38\u5229\u76ca\uff08RPM\uff09\u306b\u3064\u3044\u3066\u3001\u958b\u793a\u3055\u308c\u3066\u3044\u308b\u8ca1\u52d9\u8af8\u8868\u3068\u7167\u3089\u3057\u5408\u308f\u305b\u3066\u5404\u6307\u6a19\u306e\u8fd1\u5e74\u306e\u52d5\u5411\u3092\u5206\u6790\u3057\u307e\u3059\u3002<\/p>\n\n\n<div id=\"toc_container\" class=\"no_bullets\"><p class=\"toc_title\">\u76ee\u6b21<\/p><ul class=\"toc_list\"><li><a href=\"#i\">\u8ca1\u52d9\u8af8\u8868\u3067\u898b\u3048\u308b\u30b5\u30d6\u30b9\u30af\u30ea\u30d7\u30b7\u30e7\u30f3\u30d3\u30b8\u30cd\u30b9\u306e\u53ce\u76ca\u62e1\u5927<\/a><\/li><li><a href=\"#KPI\">\u30b5\u30d6\u30b9\u30af\u30ea\u30d7\u30b7\u30e7\u30f3\u306e\u4e3b\u8981KPI<\/a><ul><li><a href=\"#ARRAnnualized_Recurring_Revenue\">\u5e74\u9593\u7d4c\u5e38\u53ce\u76ca\uff08ARR\uff1aAnnualized Recurring Revenue\uff09<\/a><\/li><li><a href=\"#GEIGrowth_Efficiency_Index\">\u6210\u9577\u52b9\u7387\u6027\u6307\u6a19\uff08GEI\uff1aGrowth Efficiency Index\uff09<\/a><\/li><li><a href=\"#RPMRecurring_Profit_Margin\">\u7d4c\u5e38\u5229\u76ca\uff08RPM\uff1aRecurring Profit Margin\uff09<\/a><\/li><\/ul><\/li><\/ul><\/div>\n\n\n\n\n<h2 class=\"wp-block-heading\"><span id=\"i\">\u8ca1\u52d9\u8af8\u8868\u3067\u898b\u3048\u308b\u30b5\u30d6\u30b9\u30af\u30ea\u30d7\u30b7\u30e7\u30f3\u30d3\u30b8\u30cd\u30b9\u306e\u53ce\u76ca\u62e1\u5927<\/span><\/h2>\n\n\n\n<p>Adobe\u306e\u8ca1\u52d9\u8af8\u8868\u3092\u898b\u3066\u307f\u308b\u3068\u3001\u30b5\u30d6\u30b9\u30af\u30ea\u30d7\u30b7\u30e7\u30f3\u306b\u3088\u308b\u53ce\u76ca\u62e1\u5927\u306f\u76ee\u3092\u898b\u5f35\u308b\u3082\u306e\u304c\u3042\u308a\u307e\u3059\u3002\u30b5\u30d6\u30b9\u30af\u30ea\u30d7\u30b7\u30e7\u30f3\u53ce\u76ca\u306f2016\u5e74\u7b2c3\u56db\u534a\u671f\u306e1,168\u767e\u4e07\u30c9\u30eb\u304b\u30892020\u5e74\u7b2c3\u56db\u534a\u671f\u306b\u306f3,000\u767e\u4e07\u30c9\u30eb\u306b\u306a\u308a\u3001\u308f\u305a\u304b4\u5e74\u9593\u3067\u304a\u3088\u305d2.5\u500d\u306b\u62e1\u5927\u3057\u307e\u3057\u305f\u3002<\/p>\n\n\n\n<p>Operating Income\u306f2016\u5e74\u7b2c3\u56db\u534a\u671f\u306e369\u767e\u4e07\u30c9\u30eb\u304b\u30892020\u5e74\u7b2c3\u56db\u534a\u671f\u306b\u306f1,069\u767e\u4e07\u30c9\u30eb\u3067\u304a\u3088\u305d2.9\u500d\u3067\u3059\u3002<\/p>\n\n\n\n<p>Adobe\u306f\u3053\u306e\u671f\u9593\u306b\u5927\u304d\u306a\u4f01\u696d\u8cb7\u53ce\uff08M&amp;A\uff09\u5b9f\u884c\u3057\u3001\u305d\u306e\u4e8b\u696d\u57fa\u76e4\u3092\u62e1\u5927\u3057\u3066\u3044\u307e\u3059\u3002\u5177\u4f53\u7684\u306b\u306f2018\u5e745\u6708\u306b16.8\u5104\u30c9\u30eb\u3067E\u30b3\u30de\u30fc\u30b9\u30d7\u30e9\u30c3\u30c8\u30d5\u30a9\u30fc\u30e0\u306eMagento\u793e\uff08\u30de\u30b8\u30a7\u30f3\u30c8\uff09\u3092\u30012018\u5e749\u6708\u306b47.5\u5104\u30c9\u30eb\u3067\u30de\u30fc\u30b1\u30c6\u30a3\u30f3\u30b0\u30d7\u30e9\u30c3\u30c8\u30d5\u30a9\u30fc\u30e0\u306eMarketo\u793e\uff08\u30de\u30eb\u30b1\u30c8\uff09\u3092\u8cb7\u53ce\u3057\u307e\u3057\u305f\u3002\u305d\u308c\u305e\u308c\u306e\u5f37\u307f\u3092Adobe Experience Cloud\u306b\u7d44\u307f\u8fbc\u3080\u3053\u3068\u3067\u76f8\u4e57\u52b9\u679c\u3092\u72d9\u3046\u76ee\u7684\u3067\u3059\u3002\u305d\u306e\u5f8c\u306eAdobe\u306e\u53ce\u76ca\u306f\u9806\u8abf\u3067\u3042\u308a\u3001\u3053\u308c\u3089\u4e8b\u696d\u62e1\u5927\u6226\u7565\u306f\u529f\u3092\u594f\u3057\u3066\u3044\u307e\u3059\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span id=\"KPI\">\u30b5\u30d6\u30b9\u30af\u30ea\u30d7\u30b7\u30e7\u30f3\u306e\u4e3b\u8981KPI<\/span><\/h2>\n\n\n\n<p>\u30b5\u30d6\u30b9\u30af\u30ea\u30d7\u30b7\u30e7\u30f3\u30d3\u30b8\u30cd\u30b9\u306f\u4e8b\u696d\u3092\u9577\u671f\u7684\u5c55\u671b\u306b\u305f\u3063\u3066\u904b\u55b6\u3059\u308b\u3053\u3068\u306b\u3042\u308b\u305f\u3081\u3001\u4f1a\u54e1\u9867\u5ba2\u3092\u3044\u304b\u306b\u3057\u3066\u3064\u306a\u304e\u6b62\u3081\u3001\u3055\u3089\u306a\u308b\u53ce\u76ca\u5358\u4fa1\u306e\u5f15\u304d\u4e0a\u3052\u3092\u3057\u3066\u3044\u304f\u304b\u304c\u5177\u4f53\u7684\u306a\u6226\u7565\u3068\u306a\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"\/invoice\/wp-content\/uploads\/2020\/10\/kpi_subscription-1024x1024.png\" alt=\"\u30b5\u30d6\u30b9\u30af\u30ea\u30d7\u30b7\u30e7\u30f3\u306e\u4e3b\u8981KPI\" class=\"wp-image-1793\"\/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span id=\"ARRAnnualized_Recurring_Revenue\">\u5e74\u9593\u7d4c\u5e38\u53ce\u76ca\uff08ARR\uff1aAnnualized Recurring Revenue\uff09<\/span><\/h3>\n\n\n\n<p>\u30b5\u30d6\u30b9\u30af\u30ea\u30d7\u30b7\u30e7\u30f3\u30d3\u30b8\u30cd\u30b9\u3067\u306f\u5951\u7d04\u304c\u7d99\u7d9a\u3059\u308b\u3068\u4eee\u5b9a\u3057\u5e74\u9593\u306e\u53ce\u76ca\u3092\u9ad8\u3044\u7cbe\u5ea6\u3067\u4e88\u6e2c\u3059\u308b\u3053\u3068\u304c\u3067\u304d\u307e\u3059\u3002\u671f\u4e2d\u306e\u65b0\u898f\u7372\u5f97\u9867\u5ba2\u304b\u3089\u3082\u305f\u3089\u3055\u308c\u308b\u53ce\u76ca\u306f\u300c\u65b0\u898f\u306e\u5e74\u9593\u5951\u7d04\u984d\u300d\u3068\u3057\u3066\u533a\u5206\u3055\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u4e00\u822c\u7684\u306a\u958b\u793a\u8cc7\u6599\u3067\u306f\u4f01\u696d\u304c\u7a4d\u6975\u7684\u306b\u3053\u308c\u3089\u53ce\u76ca\u3092\u533a\u5206\u8868\u793a\u3057\u306a\u3051\u308c\u3070\u3001\u5916\u90e8\u304b\u3089\u5224\u65ad\u3059\u308b\u3053\u3068\u306f\u5bb9\u6613\u3067\u306f\u3042\u308a\u307e\u305b\u3093\u304cAdobe\u3067\u306fARR\u3092\u958b\u793a\u3057\u3066\u304a\u308a\u3053\u308c\u3092\u96c6\u8a08\u3059\u308b\u3068\u6b21\u306e\u3068\u304a\u308a\u3067\u3059\u3002\u5358\u4f4d\u306f10\u5104\u30c9\u30eb\u3067\u3059\u3002\uff08\u5358\u7d14\u6bd4\u8f03\u7528\u306b\u5e74\u9593\u306e\u30b5\u30d6\u30b9\u30af\u30ea\u30d7\u30b7\u30e7\u30f3\u53ce\u76ca\u3092\u4f75\u8a18\u3057\u307e\u3057\u305f\uff09<\/p>\n\n\n\n<p>\u8ca1\u52d9\u8af8\u8868\u306e\u58f2\u4e0a\u9ad8\u306b\u306f\u524d\u53d7\u53ce\u76ca\u306e\u8abf\u6574\u306a\u3069\u304c\u8003\u616e\u3055\u308c\u3066\u304a\u308a\u3001\u5fc5\u305a\u3057\u3082ARR\u3068Revenue\u306f\u4e00\u81f4\u3057\u307e\u305b\u3093\u304c\u3001\u305d\u308c\u305e\u308c\u306e\u6e2c\u5b9a\u6642\u70b9\u306b\u304a\u3051\u308bARR\u3092\u4e0a\u56de\u308bRevenue\u3092\u8a08\u4e0a\u3057\u3066\u3044\u308b\u50be\u5411\u304b\u3089\u3082\u3001\u65b0\u898f\u306e\u5e74\u9593\u5951\u7d04\u984d\u304c\u9806\u8abf\u306b\u7a4d\u307f\u3042\u304c\u3063\u3066\u3044\u308b\u3053\u3068\u304c\u9593\u63a5\u7684\u306b\u8aad\u307f\u53d6\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u307e\u305f\u3001FY2016 Q3\u306eARR\u306b\u305d\u306e\u6642\u70b9\u306eGrowth\u5206 (Driving Growth in ARR\u3000\u524d\u56db\u534a\u671f\u6bd4)\u3092\u52a0\u5473\u3059\u308b\u3068\u6982\u306dFY2017 Q3\u306b\u8fd1\u4f3c\u3057\u3066\u3044\u307e\u3059\u3002\u30b5\u30d6\u30b9\u30af\u30ea\u30d7\u30b7\u30e7\u30f3\u30d3\u30b8\u30cd\u30b9\u306f\u5c06\u6765\u53ce\u76ca\u3092\u4e88\u6e2c\u3057\u3084\u3059\u3044\u3068\u3044\u3046\u3053\u3068\u304c\u5206\u304b\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"\/invoice\/wp-content\/uploads\/2020\/10\/three_months_enbed_03-1024x237.png\" alt=\"(\u51fa\u5178)Adobe\u306e\u958b\u793a\u8cc7\u6599\u3000Form 10-Q\u3088\u308a\u7b46\u8005\u4f5c\u6210\" class=\"wp-image-1790\"\/><figcaption class=\"wp-element-caption\">(\u51fa\u5178)Adobe\u306e\u958b\u793a\u8cc7\u6599\u3000Form 10-Q\u3088\u308a\u7b46\u8005\u4f5c\u6210<\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span id=\"GEIGrowth_Efficiency_Index\">\u6210\u9577\u52b9\u7387\u6027\u6307\u6a19\uff08GEI\uff1aGrowth Efficiency Index\uff09<\/span><\/h3>\n\n\n\n<p>\u6210\u9577\u52b9\u7387\u6027\u6307\u6a19\u306f\u3001\u8ca9\u58f2\u30fb\u30de\u30fc\u30b1\u30c6\u30a3\u30f3\u30b0\u30b3\u30b9\u30c8\u3068\u5229\u76ca\u3068\u306e\u95a2\u4fc2\u3067\u3001\u4f01\u696d\u304c\u65b0\u898f\u307e\u305f\u306f\u65e2\u5b58\u9867\u5ba2\u306b\u65b0\u3057\u3044\u4e8b\u696d\u3092\u5c55\u958b\u3059\u308b\u305f\u3081\u306e\u6295\u8cc7\u3068\u3055\u308c\u3066\u3044\u307e\u3059\u3002\u55b6\u696d\u3068\u30de\u30fc\u30b1\u30c6\u30a3\u30f3\u30b0\u8cbb\u7528\u3092\u3069\u308c\u304f\u3089\u3044\u304b\u3051\u308b\u3079\u304d\u304b\u306e\u6307\u6a19\u30671\u3092\u4e0a\u56de\u308b\u3068\u7372\u5f97\u3059\u308b\u91d1\u984d\u4ee5\u4e0a\u306e\u984d\u3092\u65b0\u898f\u4e8b\u696d\u306b\u8cbb\u3084\u3057\u3066\u3044\u308b\u3053\u3068\u306b\u306a\u308a\u307e\u3059\uff08Sales Force\u3000\u300c\u30b9\u30bf\u30fc\u30c8\u30a2\u30c3\u30d7\u30ac\u30a4\u30c9\u300d\u3088\u308a\uff09\u3002<\/p>\n\n\n\n<p>\u958b\u793a\u8ca1\u52d9\u8af8\u8868\u304b\u3089\u306f\u6b21\u306e\u7b97\u5f0f\u306b\u3088\u308a\u305d\u306e\u6307\u6a19\u3092\u8a08\u7b97\u3067\u304d\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u3000\u6210\u9577\u52b9\u7387\u6027\u6307\u6a19\u3000\uff1d\u3000\u55b6\u696d\u30fb\u30de\u30fc\u30b1\u30c6\u30a3\u30f3\u30b0\u8cbb\u3000\u00f7\u3000\u55b6\u696d\u5229\u76ca<\/p>\n\n\n\n<p>Adobe\u306e\u958b\u793a\u8cc7\u6599\u304b\u3089\u30b5\u30d6\u30b9\u30af\u30ea\u30d7\u30b7\u30e7\u30f3\u306b\u95a2\u308f\u308b\u9805\u76ee\u306b\u30d5\u30a9\u30fc\u30ab\u30b9\u3057\u305f\u6570\u5024\u3092\u898b\u308b\u3068\u3001\u6210\u9577\u52b9\u7387\u6027\u6307\u6a19\u306f2016\u5e74\u306b1.29\u30012017\u5e74\u306b1.00\u30012019\u5e74\u306b\u306f0.95\u30012020\u5e74\u306f0.83\u3068\u5e74\u3005\u6e1b\u5c11\u50be\u5411\u306b\u3042\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u3053\u308c\u306fARR\u306e\u62e1\u5927\u306b\u3088\u308a\u5fc5\u8981\u30b3\u30b9\u30c8\u304c\u76f8\u5bfe\u7684\u306b\u4e0b\u304c\u3063\u3066\u304d\u305f\u3068\u8003\u3048\u3089\u308c\u308b\u3068\u3068\u3082\u306b\u3001\u682a\u4e3b\u9084\u5143\u306e\u4e00\u74b0\u3068\u3057\u3066\u5e02\u5834\u3088\u308a\u81ea\u793e\u682a\u5f0f\u3092\u8cfc\u5165\u3059\u308b\u305f\u3081\u306e\u539f\u8cc7\u3092\u78ba\u4fdd\u3057\u3066\u3044\u308b\u3068\u63a8\u5bdf\u3055\u308c\u307e\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"\/invoice\/wp-content\/uploads\/2020\/10\/three_months_enbed_01-1024x415.png\" alt=\"(\u51fa\u5178)Adobe\u306e\u958b\u793a\u8cc7\u6599\u3000Form 10-Q\u3088\u308a\u7b46\u8005\u4f5c\u6210\" class=\"wp-image-1792\"\/><figcaption class=\"wp-element-caption\">(\u51fa\u5178)Adobe\u306e\u958b\u793a\u8cc7\u6599\u3000Form 10-Q\u3088\u308a\u7b46\u8005\u4f5c\u6210<\/figcaption><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span id=\"RPMRecurring_Profit_Margin\">\u7d4c\u5e38\u5229\u76ca\uff08RPM\uff1aRecurring Profit Margin\uff09<\/span><\/h3>\n\n\n\n<p>\u3053\u306e\u6307\u6a19\u306f\u4e8b\u696d\u6210\u9577\u306e\u305f\u3081\u306e\u5229\u76ca\uff08\u8cc7\u91d1\uff09\u304c\u3069\u308c\u304f\u3089\u3044\u78ba\u4fdd\u3067\u304d\u3066\u3044\u308b\u304b\u3092\u8868\u3057\u307e\u3059\u3002<\/p>\n\n\n\n<p>\u7b97\u5f0f\u3067\u306f\u6b21\u306e\u3068\u304a\u308a\u3067\u3059\u3002\u55b6\u696d\u53ca\u3073\u30de\u30fc\u30b1\u30c6\u30a3\u30f3\u30b0\u8cbb\u7528\u306f\u300c\u6210\u9577\u52b9\u7387\u6027\u6307\u6a19\u300d\u306e\u5bfe\u8c61\u306b\u306a\u308b\u305f\u3081\u3053\u3053\u3067\u306f\u8a08\u7b97\u304b\u3089\u9664\u5916\u3055\u308c\u307e\u3059\u3002\u7d4c\u5e38\u5229\u76ca\u3068\u8ca1\u52d9\u8af8\u8868\u306e\u300c\u55b6\u696d\u5229\u76ca\u300d\u3068\u306f\u6982\u306d\u305d\u306e\u5206\u3060\u3051\u4e00\u81f4\u3057\u306a\u3044\u3068\u307f\u3066\u3082\u3088\u3044\u3067\u3057\u3087\u3046\u3002<\/p>\n\n\n\n<p>RPM\uff1d\u5e74\u9593\u7d4c\u5e38\u5229\u76ca\uff08ARR\uff09\u2212\uff08\u58f2\u4e0a\u539f\u4fa1\uff08COGS\uff09\u2212 \u7814\u7a76\u958b\u767a\u8cbb\uff08R&amp;D\uff09\u2212 \u4e00\u822c\u7ba1\u7406\u8cbb\uff09<\/p>\n\n\n\n<p>Adobe\u306f\u53ce\u76ca\uff08Revenue\uff09\u304c\u5897\u52a0\u30c8\u30ec\u30f3\u30c9\u306b\u3042\u308a\u307e\u3059\u304c\u3001\u58f2\u4e0a\u539f\u4fa1\uff08COGS\uff09\u306eRevenue\u306b\u5bfe\u3059\u308b\u6bd4\u7387\u306fFY2016\u306eQ3\u30679.9\uff05\u3067\u3057\u305f\u304cFY2020\u306eQ3\u3067\u306f10.9\uff05\u3068\u5fae\u5897\u3057\u307e\u3057\u305f\u3002\u7814\u7a76\u958b\u767a\u8cbb\uff08R&amp;D\uff09\u306eRevenue\u306b\u5bfe\u3059\u308b\u6bd4\u7387\u306fFY2016\u306eQ3\u306721.2\uff05\u3067\u3057\u305f\u304cFY2020\u306eQ3\u3067\u306f18.9\uff05\u3078\u3068\u5fae\u6e1b\u3057\u307e\u3057\u305f\u3002\u4e21\u65b9\u3092\u8db3\u3059\u3068\u6982\u306d30\uff05\u524d\u5f8c\u3067\u63a8\u79fb\u3057\u3066\u304a\u308a\u3001Revenue\u306e\u5897\u52a0\u306b\u3088\u308aRPM\u3082\u5b89\u5b9a\u3057\u3066\u5897\u52a0\u3059\u308b\u3088\u3046\u30b3\u30b9\u30c8\u30b3\u30f3\u30c8\u30ed\u30fc\u30eb\u304c\u9069\u5207\u306b\u306a\u3055\u308c\u3066\u3044\u308b\u3053\u3068\u304c\u5206\u304b\u308a\u307e\u3059\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.adobe.com\/pdf-page.html?pdfTarget=aHR0cHM6Ly93d3cuYWRvYmUuY29tL2NvbnRlbnQvZGFtL2NjL2VuL2ludmVzdG9yLXJlbGF0aW9ucy9wZGZzL0FEQkUtMTBRLVExMjMtRklOQUwucGRm\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" src=\"\/invoice\/wp-content\/uploads\/2020\/10\/three_months_enbed_02-1024x326.png\" alt=\"(\u51fa\u5178)Adobe\u306e\u958b\u793a\u8cc7\u6599\u3000Form 10-Q\u3088\u308a\u7b46\u8005\u4f5c\u6210\" class=\"wp-image-1791\"\/><\/a><figcaption class=\"wp-element-caption\">(\u51fa\u5178)Adobe\u306e\u958b\u793a\u8cc7\u6599\u3000Form 10-Q\u3088\u308a\u7b46\u8005\u4f5c\u6210<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"\u3053\u3093\u306b\u3061\u306f\u3002\u300c\u30af\u30ed\u30b8\u30ab\u8acb\u6c42\u7ba1\u7406\u300d\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u30c1\u30fc\u30e0\u306e\u82b1\u7530\u3067\u3059\u3002 \u30b5\u30d6\u30b9\u30af\u30ea\u30d7\u30b7\u30e7\u30f3\u30d3\u30b8\u30cd\u30b9\u3067\u751f\u307f\u51fa\u3059\u53ce\u76ca\u306f\u3001\u4f01\u696d\u304c\u5f93\u6765\u306e\u5148\u884c\u6295\u8cc7\u65b9\u6cd5\u3067\u5f97\u3066\u3044\u308b\u53ce\u76ca\u3088\u308a6\u500d\u306e\u4fa1\u5024\u304c\u3042\u308b\u3068\u3044\u308f\u308c\u3066\u3044\u307e\u3059\u3002\u3053\u308c\u306f\u4e88\u6e2c\u53ef\u80fd\u306a\u53ce\u76ca\u306e\u6d41\u308c\u304b\u3089\u8907 [&hellip;]","protected":false},"author":8,"featured_media":1547,"template":"","tags":[44,32,26,27],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/kurojica.com\/invoice\/wp-json\/wp\/v2\/blog\/1545"}],"collection":[{"href":"https:\/\/kurojica.com\/invoice\/wp-json\/wp\/v2\/blog"}],"about":[{"href":"https:\/\/kurojica.com\/invoice\/wp-json\/wp\/v2\/types\/blog"}],"author":[{"embeddable":true,"href":"https:\/\/kurojica.com\/invoice\/wp-json\/wp\/v2\/users\/8"}],"version-history":[{"count":4,"href":"https:\/\/kurojica.com\/invoice\/wp-json\/wp\/v2\/blog\/1545\/revisions"}],"predecessor-version":[{"id":9575,"href":"https:\/\/kurojica.com\/invoice\/wp-json\/wp\/v2\/blog\/1545\/revisions\/9575"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/kurojica.com\/invoice\/wp-json\/wp\/v2\/media\/1547"}],"wp:attachment":[{"href":"https:\/\/kurojica.com\/invoice\/wp-json\/wp\/v2\/media?parent=1545"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kurojica.com\/invoice\/wp-json\/wp\/v2\/tags?post=1545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}