Deprecated: Assigning the return value of new by reference is deprecated in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-settings.php on line 468

Deprecated: Assigning the return value of new by reference is deprecated in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-settings.php on line 483

Deprecated: Assigning the return value of new by reference is deprecated in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-settings.php on line 490

Deprecated: Assigning the return value of new by reference is deprecated in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-settings.php on line 526

Strict Standards: Declaration of Walker_Page::start_lvl() should be compatible with Walker::start_lvl(&$output) in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/classes.php on line 594

Strict Standards: Declaration of Walker_Page::end_lvl() should be compatible with Walker::end_lvl(&$output) in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/classes.php on line 594

Strict Standards: Declaration of Walker_Page::start_el() should be compatible with Walker::start_el(&$output) in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/classes.php on line 594

Strict Standards: Declaration of Walker_Page::end_el() should be compatible with Walker::end_el(&$output) in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/classes.php on line 594

Strict Standards: Declaration of Walker_PageDropdown::start_el() should be compatible with Walker::start_el(&$output) in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/classes.php on line 611

Strict Standards: Declaration of Walker_Category::start_lvl() should be compatible with Walker::start_lvl(&$output) in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/classes.php on line 705

Strict Standards: Declaration of Walker_Category::end_lvl() should be compatible with Walker::end_lvl(&$output) in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/classes.php on line 705

Strict Standards: Declaration of Walker_Category::start_el() should be compatible with Walker::start_el(&$output) in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/classes.php on line 705

Strict Standards: Declaration of Walker_Category::end_el() should be compatible with Walker::end_el(&$output) in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/classes.php on line 705

Strict Standards: Declaration of Walker_CategoryDropdown::start_el() should be compatible with Walker::start_el(&$output) in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/classes.php on line 728

Strict Standards: Redefining already defined constructor for class wpdb in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/wp-db.php on line 306

Deprecated: Assigning the return value of new by reference is deprecated in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/cache.php on line 103

Strict Standards: Redefining already defined constructor for class WP_Object_Cache in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/cache.php on line 425

Deprecated: Assigning the return value of new by reference is deprecated in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/query.php on line 21

Deprecated: Assigning the return value of new by reference is deprecated in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/theme.php on line 618

Strict Standards: Redefining already defined constructor for class WP_Dependencies in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/class.wp-dependencies.php on line 15

Deprecated: Assigning the return value of new by reference is deprecated in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-content/plugins/exec-php/exec-php.php on line 22

Deprecated: Assigning the return value of new by reference is deprecated in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-content/plugins/exec-php/includes/manager.php on line 34

Deprecated: Assigning the return value of new by reference is deprecated in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-content/plugins/exec-php/includes/manager.php on line 35

Deprecated: Assigning the return value of new by reference is deprecated in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-content/plugins/exec-php/includes/manager.php on line 36

Deprecated: Assigning the return value of new by reference is deprecated in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-content/plugins/exec-php/includes/admin.php on line 42

Deprecated: Assigning the return value of new by reference is deprecated in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-content/plugins/exec-php/includes/admin.php on line 51

Deprecated: Assigning the return value of new by reference is deprecated in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-content/plugins/exec-php/includes/admin.php on line 52

Deprecated: Assigning the return value of new by reference is deprecated in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-content/plugins/exec-php/includes/admin.php on line 53

Deprecated: Assigning the return value of new by reference is deprecated in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-content/plugins/exec-php/includes/ajax.php on line 63

Deprecated: Assigning the return value of new by reference is deprecated in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-content/plugins/exec-php/includes/cache.php on line 33

Deprecated: Assigning the return value of new by reference is deprecated in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-content/plugins/exec-php/includes/cache.php on line 42

Deprecated: Assigning the return value of new by reference is deprecated in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-content/plugins/wp-hatena/wp-hatena.php on line 45

Strict Standards: call_user_func_array() expects parameter 1 to be a valid callback, non-static method GoogleSitemapGeneratorLoader::Enable() should not be called statically in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/plugin.php on line 311
2009 2 月 | 経済・経営・株式・投資 時事評論

タグ


Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: Function eregi() is deprecated in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/gettext.php on line 294

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 935

Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

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ご案内

ブレインファクトリーでは、会社の設立・事業計画書の作成、資本・資金調達、M&A、投資事業、リスクコンサルタント等様々なメニューをご用意しております。 ホームページをご覧下さい。 詳しくは、ブレインファクトリーのホームページまで。

 

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  • 2010 年 2 月

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  • 2009 年 10 月

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  • 2009 年 7 月

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  • 2009 年 6 月

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  • 2009 年 4 月

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  • 2009 年 3 月

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  • 2009 年 2 月

  • Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

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  • 2009 年 1 月

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  • 2008 年 12 月

  • Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

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  • 2008 年 11 月

  • Deprecated: preg_replace(): The /e modifier is deprecated, use preg_replace_callback instead in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/kses.php on line 934

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  • 2008 年 10 月

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  • 2008 年 9 月

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  • 2008 年 8 月

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  • 2008 年 7 月

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あわせて読みたいブログパーツ

経済・経営・株式・投資 時事評論

元投資銀行マンの時事評論 (旧社長お時間です)

Archive for 2 月, 2009


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2009年2月26日

. .

持ち帰り弁当の「ほっかほっか亭」をFC展開していたマルコフーズ社(熊本市)が破産手続きを開始しました。

http://kyushu.yomiuri.co.jp/keizai/detail/20090225-OYS1T00217.htm (読売新聞)

. .

ちょっと話しを変えます。

一般的に不況時には、出費をおさえるために外食を控えて外食より安い中食(なかしょく)、内食を選ぶようです。

(中食 : http://www.e-shokuiku.com/circulation/12_6.html

. .

外食も低価格志向が鮮明 売上高、2カ月連続で前年割れ (産経新聞)

http://headlines.yahoo.co.jp/hl?a=20090225-00000596-san-bus_all

ただし、外食でも価格の安いところは中間的な価格帯の店舗から顧客が流れて来るので好調なようです。そのためか、「すかいらーく」はグループでもっと安い価格帯の店舗である「ガスト」に転換しようとしています。

http://www.nikkansports.com/general/news/f-gn-tp2-20081123-432544.html

. .

話しを元に戻します。

. .

外食を控え、より安価な弁当を選ぶとすれば、持ち帰り弁当は好調なはずです。(私のオフィスの近くの弁当屋も、お昼にはサラリーマンとOLが店の外までならぶ盛況ぶりです。) であるのに、その持ち帰り弁当屋が破産をするのはどう言うことでしょうか。

. .

上記の記事によると競争激化で売上・収益が悪化したとのこと。競争激化?

. .

持ち帰り弁当を展開しているのは、「ほっかほっか亭」を運営する「ハークスレイ社」

http://www.hurxley.co.jp/index_hr.html と「ほっともっと」を運営する「プレナス社」

http://www.plenus.co.jp/index.php が2大業者でしのぎを削っているようです。

. .

この「ほっともっと」は元々「ほっかほっか亭」を展開、運営していた様ですが、理由はともかく、プレナス社は「ほっかほっか亭」から離脱して「ほっともっと」を設立して拡大したようです。そのため、商標や営業権の妨害?等で訴訟をハークスレイ社は起こしています。

ただ、プレナス社の方が「ほっかほっか亭」のハークスレイ社より後発ですが、その規模は今やプレナス社の方が大きいようです。2社のデータを下記にならべます。

. .

「ハークスレイ社」(ほっかほっか亭) データ

東証1部 証券コード 7561   時価総額 81億円 (2月25日現在)

【連結事業】加盟店部門59、直営店部門28、その他部門7、他7(2008.3)

連結従業員 641名

項目決算期

売上高

営業利益

経常利益

当期利益

2008年3月

24,770

1,485

1,331

-2,946

2007年3月

24,393

1,811

2,582

1,049

2006年3月

24,535

2,316

2,898

1,034

2005年3月

25,372

2,687

3,000

1,721

2004年3月

26,253

2,876

3,165

1,687

2003年3月

26,999

2,975

3,271

1,486

2002年3月

26,499

2,685

2,926

900

(単位 百万円)  出典 yahooファイナンス

. .

「プレナス社」(ほっともっと)  データ

東証1部 証券コード9945 時価総額620億円 (2月25日現在)

【連結事業】持ち帰り弁当87(10)、定食11(5)、他2(4)(2008.2)

連結従業員 1212名

項目決算期

売上高

営業利益

経常利益

当期利益

2008年2月

123,882

11,237

11,737

5,241

2007年2月

122,694

13,169

13,351

6,701

2006年2月

120,926

15,477

15,760

8,870

2005年2月

118,667

15,896

15,870

4,656

2004年2月

116,836

14,507

14,725

7,354

2003年2月

108,353

14,581

15,013

7,351

2002年2月

92,715

12,701

13,091

6,127

(単位 百万円)  出典 yahooファイナンス

. .

(ほっともっと)は(ほっかほっか亭)の売上の5倍近くあります。ここまで売上の差がひらくとこれを縮めるのはかなり大変です。

. .

また、従業員数と売上を比較すると、従業員は641名対1212名と約倍で、売上は247億円対1238億円と約5倍。つまり従業員一人あたりの売上はプレナス社の方が2.5倍もあります。もちろん、直営、FCの差もありますが、2社間には効率性でも差があるようです。

. .

「ほっかほっか亭」のFCを運営していたマルコフーズ社はこの2社の戦いに巻き込まれたと言うところでしょうか。

. .

マルコフーズ社にしても、プレナス社が分離した際にプレナス社側に付く選択もあったでしょうけど、その時点で利益がある程度出ていたら、わざわざ店舗を変える方を選ぶのはリスクがあるので迷ったことでしょう。

. .

・・・・・・・・・・・・・・・

. .

今回のケースは特殊だと思いますが、不況だからと言って儲かりそうな弁当屋さんを短絡的にやるというのは危険ですね。

. .

FC系はスクラップ・アンド・ビルドを繰り返します。作って(出店)ダメなら執着せずに潰して新しいところに作ります。商売、特に飲食系は出店場所が成功のキーポイントと言われていますが、商売を始めるなら慎重に出店場所を探す必要があるでしょうね。

. .

↓ あまりこの類の本に目を通すと、レストランそのものが気になって食事が楽しめなくなりますが。(レストラン等で、この料理の原価はこのくらいだから、この値段はりっぱだとか言うと、女房にごはんが不味くなるからそんな話ししないでとよく怒られます。)

レストランの秘密 (宝島SUGOI文庫 A へ 1-79) (宝島SUGOI文庫)
レストランの秘密 (宝島SUGOI文庫 A へ 1-79) (宝島SUGOI文庫) 別冊宝島編集部 編宝島社 2008-12-18
売り上げランキング : 177460おすすめ平均 star
star良い店を選ぶための秘訣だがAmazonで詳しく見る by G-Tools

. .

食品のカラクリ3 レストランの秘密−厨房のウラ側!! (別冊宝島)
食品のカラクリ3 レストランの秘密−厨房のウラ側!! (別冊宝島)
宝島社 2007-01-12
売り上げランキング : 25831おすすめ平均 star
starそれほどカラクリ教えてくれるわけでなく
star主旨がずれている。
star★食べる大好きの方必見の書!?★Amazonで詳しく見る by G-Tools

.                                               .

↓ ちょっとお遊び。子供が見ているのを覗いて、思わず笑ってしまいました。

怪談レストランナビ 霊 (怪談レストラン)
怪談レストランナビ 霊 (怪談レストラン) 松谷 みよ子童心社 2008-11
売り上げランキング : 225205Amazonで詳しく見る by G-Tools

↓皆様の応援が励みになります
↓1クリック頂ければ幸いです↓

関連する投稿




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Strict Standards: Only variables should be assigned by reference in /export/sd06/www/jp/r/e/gmoserver/5/4/sd0012854/brainfact.asia/wordpress/wp-includes/post.php on line 218

2009年2月24日

. .

いよいよ金融機関やヘッジファンドへの監督・規制が強化されますね。

. .

*欧州主要国が緊急首脳会合、ヘッジファンド規制や金融監督強化で合意

(ロイター2月23日)

http://jp.reuters.com/article/domesticEquities4/idJPnTK838844920090223

. .

すでに規制・監督強化については昨年から議論されていましたが、ついに4月のG20で、規制・監督強化が本格化しそうです。その中で、特に規制されそうなのが、レバレッジ、自己資本比率ではないでしょうか。

. .

(レバレッジとは直接の言葉の意味は「てこの作用」ですが、金融ではここから転じて「少額の自己資金で他から借入れを起こし、多額の投資をおこなう」という意味です。)

. .

このレバレッジに関しては、昨年にもブログで少々書きました。高いレバレッジの怖さは以前にも書きましたが、ちょっとした損失で資本を全部失ってしまう怖さです。

. .

2008年11月7日からの、「レバレッジの作り方」と「ほんとうは怖いレバレッジ」シリーズです。

http://brainfact.asia/wordpress/archives/date/2008/11/07

http://brainfact.asia/wordpress/archives/date/2008/11/10

http://brainfact.asia/wordpress/archives/date/2008/11/11

. .

米国ではレバレッジの規制緩和により、2004年にSECが証券会社のレバレッジ比率を従来の12倍から33倍に拡大することを認めたと思います。

http://diamond.jp/series/siliconvalley/10011/?page=2 (ダイヤモンド社の記事より)

. .

これが元のレベルまで下げられるのと、ヘッジファンドも規制対象になると言うことでしょう。

ちょっと遅すぎたかもしれませんが。。。。

. .

すでに、ヘッジファンドへの融資も削減されつつあるようです。特にレバレッジの高いファンドに対して。。。 ウォールストリートジャーナル: )

http://www.asahi.com/international/reuters/RTR200902170096.html

http://online.wsj.com/article/SB123483417670296081.html?mod=article-outset-box

. .

最近の日本株の弱さの原因は環境の悪さもありますが、外人投資家の売りも大きな要因になっています。ヘッジファンド規制と融資の削減で、ヘッジファンドは資金化せねばならず、やむを得ずに売っている可能性も大だと思います。

. .

話は変わって、面白いニュースでした。「ドバイ空港で3000台の高級車が乗り捨て、、、金融危機で国際的な夜逃げとの事」

http://www.chunichi.co.jp/article/world/news/CK2009021102000153.html 中日新聞

実体ビジネスが伴わないと、金融や投資だけでは食べていけない証拠ですかね。

. .

↓「砂上の楼閣」とは上手く言ったもので、ドバイの高級ホテルやビルもそうなってしまいそうです。

るるぶドバイ (るるぶ情報版 A 20)
るるぶドバイ (るるぶ情報版 A 20)
ジェイティビィパブリッシング 2008-09
売り上げランキング : 166183Amazonで詳しく見る by G-Tools

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↓今や古典?ですが「アラビアのロレンス」。ピーターオトゥールが名演です。当時、植民地から解放されたアラブ諸国で、ドバイのような国が出来ると誰が予測できたでしょうか。

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アラビアのロレンス 完全版 [DVD]
アラビアのロレンス 完全版 [DVD] ピーター・オトゥール, オマー・シャリフ, アレック・ギネス, アンソニー・クイン, デビッド・リーンおすすめ平均
stars劇場のロレンス。
starsポータブルDVDによる車内レビュー
starsロレンス・ロマンス
stars面白いです。
starsこんな映画はもうできないだろうなあ。

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