{"id":827,"date":"2026-06-16T20:30:57","date_gmt":"2026-06-16T11:30:57","guid":{"rendered":"https:\/\/www.kabutec.jp\/blog\/?p=827"},"modified":"2026-06-16T20:30:57","modified_gmt":"2026-06-16T11:30:57","slug":"%e3%82%ad%e3%82%aa%e3%82%af%e3%82%b7%e3%82%a2%e3%81%af%e3%81%a9%e3%81%93%e3%81%be%e3%81%a7%e4%b8%8a%e3%81%8c%e3%82%8b%e3%81%ae%e3%81%8b-%e2%80%95-ai%e5%ae%9f%e9%9c%80%e3%81%a8%e3%80%8c2027%e5%b9%b4","status":"publish","type":"post","link":"https:\/\/www.kabutec.jp\/blog\/?p=827","title":{"rendered":"\u30ad\u30aa\u30af\u30b7\u30a2\u306f\u3069\u3053\u307e\u3067\u4e0a\u304c\u308b\u306e\u304b \u2015 AI\u5b9f\u9700\u3068\u300c2027\u5e74\u554f\u984c\u300d\u306e\u5929\u4e95\u8b70\u8ad6"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">\u7d50\u8ad6\u5148\u51fa\u3057<\/h2>\n\n\n\n<ul>\n<li>\u30ad\u30aa\u30af\u30b7\u30a2(285A)\u306f**\u00a594,000\u53f0<strong>\u307e\u3067\u5674\u304d\u4e0a\u3052\u3001IPO\u516c\u52df\u4fa1\u683c(\u00a51,455)\u304b\u3089<\/strong>\u7d0465\u500d**<\/li>\n\n\n\n<li>\u30a2\u30ca\u30ea\u30b9\u30c8\u5e73\u5747\u76ee\u6a19\u00a590,625\u306f<strong>\u73fe\u5024\u3092\u4e0b\u56de\u3063\u305f<\/strong>\u3002\u904e\u71b1\u30b5\u30a4\u30f3\u3060\u304c\u3001\u696d\u7e3e\u306f\u305d\u308c\u3092\u6b63\u5f53\u5316\u3057\u3046\u308b<\/li>\n\n\n\n<li>\u5f37\u6c17\u30fb\u4e2d\u7acb\u30fb\u5f31\u6c17\u306e3\u30b7\u30ca\u30ea\u30aa\u3067\u5929\u4e95\u3092\u8a66\u7b97\u3059\u308b\u3068\u3001<strong>\u00a575,000\u301c\u00a5150,000\u306e\u30ec\u30f3\u30b8<\/strong><\/li>\n\n\n\n<li>\u300c\u3082\u3046\u9045\u3044\u300d\u3068\u300c\u307e\u3060\u884c\u3051\u308b\u300d\u304c\u540c\u5c45\u3059\u308b\u5c40\u9762\u3002\u554f\u984c\u306f<strong>\u4fa1\u683c\u3067\u306f\u306a\u304f\u6642\u9593\u8ef8<\/strong><\/li>\n\n\n\n<li>\u672c\u8a18\u4e8b\u306e\u7acb\u5834\uff1a<strong>\u5b9f\u9700\u306f\u672c\u7269\u3001\u3057\u304b\u3057\u5e02\u5834\u306fFY27\u30d9\u30b9\u30c8\u30b1\u30fc\u30b9\u3092\u3059\u3067\u306b\u7e54\u308a\u8fbc\u307f\u4e2d<\/strong><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">1. \u4f55\u304c\u8d77\u304d\u305f\u304b \u2015 \u3053\u306e1\u9031\u9593\u306e\u7570\u5909<\/h2>\n\n\n\n<p>6\/9\u306b\u00a576,450\u3060\u3063\u305f\u682a\u4fa1\u306f\u30016\/15\u306b\u306f**\u00a590,910\uff08+11.96%\uff09<strong>\u3067\u5927\u5f15\u3051\u30026\/16\u306e\u30b6\u30e9\u5834\u3067<\/strong>\u00a594,120**\u3092\u4ed8\u3051\u305f\u3002<strong>\u308f\u305a\u304b1\u9031\u9593\u306723%\u8d85\u306e\u30d1\u30e9\u30dc\u30ea\u30c3\u30af\u4e0a\u6607<\/strong>\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u5f15\u304d\u91d1\u306f2\u3064\u91cd\u306a\u3063\u305f\u3002<\/p>\n\n\n\n<p>\u3072\u3068\u3064\u306f<strong>Q1\uff082026\/4-6\u6708\uff09\u306e\u7d14\u5229\u76ca\u4e88\u60f3\u00a58,690\u5104<\/strong>\u306e\u767a\u8868\uff085\/15\uff09\u304c\u5e02\u5834\u30b3\u30f3\u30bb\u30f3\u30b5\u30b9\u00a54,056\u5104\u306e2\u500d\u8d85\u3092\u53e9\u304d\u51fa\u3057\u305f\u3053\u3068\u3002AI\u30b5\u30fc\u30d0\u30fc\u5411\u3051NAND\u306e\u9700\u7d66\u903c\u8feb\u304c\u60f3\u50cf\u4ee5\u4e0a\u306b\u52b9\u3044\u3066\u3044\u308b\u3002<\/p>\n\n\n\n<p>\u3082\u3046\u3072\u3068\u3064\u306f<strong>6\/15\u306e\u30a4\u30e9\u30f3\u548c\u5e73\u5408\u610f<\/strong>\u3002\u4e2d\u6771\u30ea\u30b9\u30af\u30aa\u30d5\u304b\u3089\u4e00\u6c17\u306b\u30ea\u30b9\u30af\u30aa\u30f3\u3001\u7279\u306b\u300cAI\u30d0\u30d6\u30eb\u62e1\u5927\u300d\u3068\u3044\u3046\u5927\u76f8\u5834\u30ca\u30e9\u30c6\u30a3\u30d6\u306b\u706b\u304c\u70b9\u3044\u305f\u3002\u65e5\u7d4c\u5e73\u57477\u4e07\u5186\u5c04\u7a0b\u3068\u3044\u3046\u5f37\u6c17\u8ad6\u304c\u4e00\u90e8\u30e1\u30c7\u30a3\u30a2\u304b\u3089\u51fa\u59cb\u3081\u3001AI\u95a2\u9023\u306e\u4e3b\u529b\u306b\u8cc7\u91d1\u304c\u6bba\u5230\u3057\u305f\u3002<\/p>\n\n\n\n<p>\u3053\u3053\u306b\u3001\u3082\u3046\u3072\u3068\u3064\u898b\u9003\u305b\u306a\u3044\u8981\u56e0\u304c\u3042\u308b\u3002<strong>\u30a2\u30ca\u30ea\u30b9\u30c8\u5e73\u5747\u76ee\u6a19\u682a\u4fa1\u306f1\u9031\u9593\u524d\u306e\u00a586,250\u304b\u3089\u00a590,625\u306b\u5f15\u304d\u4e0a\u3052\u3089\u308c\u305f\u304c\u3001\u682a\u4fa1\u306f\u305d\u308c\u3092\u8efd\u304f\u4e0a\u56de\u3063\u3066\u3057\u307e\u3063\u305f<\/strong>\u3002\u8cb7\u3044\u4e88\u60f317\u4eba\u4e2d\u3001\u5f37\u6c17\u8cb7\u30449\u4eba\u3001\u8cb7\u30445\u4eba\u3001\u4e2d\u7acb1\u4eba\u3001\u58f2\u308a1\u4eba\u3002\u30a2\u30ca\u30ea\u30b9\u30c8\u306f\u5f37\u6c17\u3060\u304c\u3001\u682a\u4fa1\u306f\u305d\u308c\u3088\u308a\u901f\u3044\u3002<\/p>\n\n\n\n<p>\u3053\u308c\u306f\u5178\u578b\u7684\u306a**\u300c\u30b3\u30f3\u30bb\u30f3\u30b5\u30b9\u304c\u73fe\u5b9f\u3092\u8ffd\u3044\u304b\u3051\u308b\u300d\u5c40\u9762**\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">2. \u696d\u7e3e\u30d5\u30a1\u30f3\u30c0\u30e1\u30f3\u30bf\u30eb\u30ba\u306e\u518d\u78ba\u8a8d \u2015 \u3053\u308c\u306f\u30e2\u30e1\u30f3\u30bf\u30e0\u3067\u306f\u306a\u304f\u5b9f\u9700<\/h2>\n\n\n\n<p>\u3053\u3053\u3067\u30b9\u30bf\u30f3\u30b9\u3092\u660e\u78ba\u306b\u3057\u3066\u304a\u304f\u3002\u30ad\u30aa\u30af\u30b7\u30a2\u306e\u4e0a\u6607\u306f\u3001<strong>\u30ca\u30e9\u30c6\u30a3\u30d6\u3060\u3051\u3067\u52d5\u3044\u3066\u3044\u308b\u9298\u67c4\u3067\u306f\u306a\u3044<\/strong>\u3002<\/p>\n\n\n\n<p>FY26\/3\u5b9f\u7e3e\uff1a<\/p>\n\n\n\n<ul>\n<li>\u58f2\u4e0a\u53ce\u76ca\uff1a<strong>\u00a52\u51463,376\u5104<\/strong>\uff08\u524d\u671f\u6bd4+37.0%\uff09<\/li>\n\n\n\n<li>\u55b6\u696d\u5229\u76ca\uff1a<strong>\u00a58,704\u5104<\/strong>\uff08+92.7%\uff09<\/li>\n\n\n\n<li>\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\/\u30a8\u30f3\u30bf\u30fc\u30d7\u30e9\u30a4\u30ba\u5411\u3051SSD\u304c\u58f2\u4e0a\u306e\u7d046\u5272<\/li>\n<\/ul>\n\n\n\n<p>\u305d\u3057\u3066FY27\/3 Q1\u5358\u72ec\u3067\u7d14\u5229\u76ca**\u00a58,690\u5104<strong>\u3092\u898b\u8fbc\u3080\u3002\u3053\u308c\u306f<\/strong>FY26\/3\u901a\u671f\u55b6\u696d\u5229\u76ca\u3068\u540c\u6c34\u6e96\u3092\u3001\u305f\u3063\u305f3\u30f6\u6708\u3067\u53e9\u304d\u51fa\u3059**\u3068\u3044\u3046\u3053\u3068\u3060\u3002<\/p>\n\n\n\n<p>\u306a\u305c\u3053\u3053\u307e\u3067\u7a3c\u3052\u308b\u306e\u304b\u3002\u7406\u7531\u306f\u69cb\u9020\u7684\u3060\u3002<\/p>\n\n\n\n<ul>\n<li><strong>2026\u5e74\u751f\u7523\u5206\u306f\u5b8c\u58f2\u72b6\u614b<\/strong>\uff082\/12\u6c7a\u7b97\u3067\u516c\u8868\uff09<\/li>\n\n\n\n<li>**2027-2028\u5e74\u3092\u30b9\u30b3\u30fc\u30d7\u306b\u5165\u308c\u305f\u9577\u671f\u5951\u7d04\uff08LTA\uff09**\u3092\u4e00\u90e8\u30cf\u30a4\u30d1\u30fc\u30b9\u30b1\u30fc\u30e9\u30fc\u3068\u4ea4\u6e09\u4e2d<\/li>\n\n\n\n<li><strong>\u524d\u6255\u3044\u63d0\u6848<\/strong>\u304c\u9867\u5ba2\u5074\u304b\u3089\u6765\u3066\u3044\u308b\uff08\u901a\u5e38\u3001\u534a\u5c0e\u4f53\u30e1\u30e2\u30ea\u3067\u306f\u7570\u4f8b\uff09<\/li>\n\n\n\n<li>WD\/SanDisk\u3068\u306e\u5408\u5f01\u3092<strong>2034\u5e74\u672b\u307e\u3067\u5ef6\u9577<\/strong>\u3001\u88fd\u9020\u80fd\u529b\u62e1\u5f35<\/li>\n<\/ul>\n\n\n\n<p>\u3053\u308c\u306f\u534a\u5c0e\u4f53\u30e1\u30e2\u30ea\u696d\u754c\u304c30\u5e74\u898b\u305f\u3053\u3068\u306e\u306a\u3044\u9700\u7d66\u74b0\u5883\u3067\u3042\u308b\u3002Samsung\u30fbSK Hynix\u3082\u540c\u3058\u6ce2\u306b\u4e57\u3063\u3066\u3044\u308b\u304c\u3001\u30ad\u30aa\u30af\u30b7\u30a2\u306fNAND\u5c02\u696d\u3060\u304b\u3089\u6069\u6075\u304c\u6700\u3082\u6fc3\u304f\u51fa\u308b\u3002<\/p>\n\n\n\n<p>\u3064\u307e\u308a\u3001\u696d\u7e3e\u30e2\u30e1\u30f3\u30bf\u30e0\u3060\u3051\u898b\u308c\u3070\u3001\u682a\u4fa1\u304c65\u500d\u306b\u306a\u3063\u3066\u3082\u300c\u5b9f\u614b\u3068\u4e56\u96e2\u3057\u3066\u3044\u306a\u3044\u300d\u53ef\u80fd\u6027\u306f\u5341\u5206\u3042\u308b\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">3. \u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3 \u2015 \u6570\u5b57\u3067\u5929\u4e95\u3092\u6e2c\u308b<\/h2>\n\n\n\n<p>\u554f\u984c\u306f\u300c\u3069\u306e\u5229\u76ca\u306b\u3069\u306ePER\u3092\u639b\u3051\u308b\u304b\u300d\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u682a\u5f0f\u6570\u3068\u5229\u76ca\u306e\u30ec\u30d5\u30a1\u30ec\u30f3\u30b9<\/h3>\n\n\n\n<p>\u304a\u304a\u3080\u306d\u682a\u5f0f\u6570\u7d04<strong>5\u51044,000\u4e07\u682a<\/strong>\u3068\u3057\u3066\u8a08\u7b97\u3059\u308b\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><th>\u671f<\/th><th>\u7d14\u5229\u76ca<\/th><th>EPS<\/th><th>\u73fe\u5024\u3067\u306e\u5b9f\u7e3e\/\u4e88\u60f3PER<\/th><\/tr><\/thead><tbody><tr><td>FY26\/3 \u5b9f\u7e3e<\/td><td>\u00a55,544\u5104<\/td><td>\u00a51,017<\/td><td><strong>\u7d0493\u500d<\/strong><\/td><\/tr><tr><td>FY27\/3 \u30b3\u30f3\u30bb\u30f3\u30b5\u30b9<\/td><td>\u00a52\u51468,389\u5104<\/td><td>\u00a55,209<\/td><td><strong>\u7d0418\u500d<\/strong><\/td><\/tr><tr><td>FY28\/3 \u60f3\u5b9a\uff08\u5de1\u822a\uff09<\/td><td>\u00a51\u51468,000\u5104<\/td><td>\u00a53,300<\/td><td>\u7d0428\u500d<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>\u3053\u3053\u3067\u91cd\u8981\u306a\u306e\u306f\u3001<strong>\u5b9f\u7e3ePER 93\u500d\u306f\u8a18\u61b6\u7cfb\u534a\u5c0e\u4f53\u3068\u3057\u3066\u6b74\u53f2\u7684\u306b\u7570\u5e38\u306b\u9ad8\u3044<\/strong>\u3068\u3044\u3046\u3053\u3068\u3060\u3002\u904e\u53bb\u3001\u534a\u5c0e\u4f53\u30e1\u30e2\u30ea\u3067PER 90\u500d\u4ee5\u4e0a\u3092\u7d99\u7d9a\u7684\u306b\u6b63\u5f53\u5316\u3057\u305f\u4f8b\u306f\u3001\u307b\u307c\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u3057\u304b\u3057\u3001\u6765\u671f\u4e88\u60f3PER 18\u500d\u306f<strong>\u3080\u3057\u308d\u5272\u5b89<\/strong>\u3067\u3042\u308b\u3002S&amp;P500\u306e\u5e73\u5747\u304c\u7d0422\u500d\u3001\u6771\u8a3c\u30d7\u30e9\u30a4\u30e0\u5e73\u5747\u304c\u7d0416\u500d\u3060\u304b\u3089\u3001\u5229\u76ca\u304c2.84\u5146\u5186\u306b\u5c4a\u304f\u306a\u3089\u4eca\u8cb7\u3063\u3066\u3082\u9045\u304f\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u3064\u307e\u308a\u8ad6\u70b9\u306f**\u300cFY27\u30b3\u30f3\u30bb\u30f3\u30b5\u30b9\u00a52.84\u5146\u3092\u4fe1\u3058\u308b\u304b\u300d**\u306e\u4e00\u70b9\u306b\u7d5e\u3089\u308c\u308b\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u4fe1\u3058\u308b\u6839\u62e0<\/h3>\n\n\n\n<ul>\n<li>Q1\u3060\u3051\u3067\u00a58,690\u5104 \u2192 \u5358\u7d14\u5e74\u63db\u7b97\u3067\u00a53.5\u5146\u30da\u30fc\u30b9\u3002\u3080\u3057\u308d\u63a7\u3048\u3081<\/li>\n\n\n\n<li>LTA\u3067\u7269\u91cf\u306f\u78ba\u5b9a\u6e08\u307f<\/li>\n\n\n\n<li>ASP\u4e0a\u6607\u306f\u56db\u534a\u671f\u3054\u3068\u306b\u4ea4\u6e09\u4e2d\u3060\u304c\u3001\u5f37\u6c17\u7d99\u7d9a<\/li>\n\n\n\n<li>AI\u30ad\u30e3\u30da\u30c3\u30af\u30b9\u306e\u30d4\u30fc\u30af\u30a2\u30a6\u30c8\u306f2027\u5e74\u4ee5\u964d\u306e\u8b70\u8ad6<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">\u4fe1\u3058\u304d\u308c\u306a\u3044\u6839\u62e0<\/h3>\n\n\n\n<ul>\n<li>NAND\u4fa1\u683c\u306f\u5178\u578b\u7684\u306a<strong>\u5e02\u6cc1\u5546\u54c1<\/strong>\u3002\u9700\u7d66\u304c\u5d29\u308c\u305f\u77ac\u9593\u306b\u5024\u6bb5\u304c\u843d\u3061\u308b<\/li>\n\n\n\n<li>Samsung\uff08\u30b7\u30a7\u30a21\u4f4d\uff09\u3068 SK Hynix\uff08\u540c2\u4f4d\uff09\u304c\u5897\u7523\u3067\u5831\u5fa9\u3059\u308b\u53ef\u80fd\u6027<\/li>\n\n\n\n<li>AI\u6295\u8cc7\u306e\u7dcf\u984d\u304c\u3069\u3053\u304b\u3067\u982d\u6253\u3061\u306b\u306a\u308b\u30ea\u30b9\u30af\uff08\u4e00\u90e8\u306e\u58f0\u3067\u306f2027\u5e74\u5f8c\u534a\uff09<\/li>\n\n\n\n<li>\u4e2d\u56fd\u534a\u5c0e\u4f53\u898f\u5236\u306e\u8ffd\u52a0\u767a\u52d5\u30ea\u30b9\u30af<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">4. \u30b7\u30ca\u30ea\u30aa\u5225\u30bf\u30fc\u30b2\u30c3\u30c8<\/h2>\n\n\n\n<p>3\u3064\u306e\u30b7\u30ca\u30ea\u30aa\u3067\u30d5\u30a7\u30a2\u30d0\u30ea\u30e5\u30fc\u3092\u7f6e\u304f\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u5f37\u6c17\u30b7\u30ca\u30ea\u30aa\uff1a\u300cAI\u30d0\u30d6\u30eb\u7d99\u7d9a\u3001FY28\u3082\u6210\u9577\u300d<\/h3>\n\n\n\n<ul>\n<li>FY27\u7d14\u5229\u76ca\u00a52.84\u5146\u9054\u6210\u3001FY28\u3082\u00a53\u5146\u53f0\u7dad\u6301<\/li>\n\n\n\n<li>\u9069\u6b63PER 25\u500d\uff08\u534a\u5c0e\u4f53\u30d4\u30fc\u30af\u9ad8\u8a55\u4fa1\u30be\u30fc\u30f3\uff09<\/li>\n\n\n\n<li><strong>\u76ee\u6a19\uff1a\u00a5130,000\u301c150,000<\/strong><\/li>\n\n\n\n<li>\u78ba\u7387\uff1a<strong>25%<\/strong><\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">\u4e2d\u7acb\u30b7\u30ca\u30ea\u30aa\uff1a\u300c\u696d\u7e3e\u306f\u4f38\u3073\u308b\u304c\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u7e2e\u5c0f\u300d<\/h3>\n\n\n\n<ul>\n<li>FY27\u7d14\u5229\u76ca\u00a52.5\u5146\u7a0b\u5ea6\u3001FY28\u304b\u3089\u6210\u9577\u7387\u920d\u5316<\/li>\n\n\n\n<li>\u9069\u6b63PER 18\u301c20\u500d\uff08\u6210\u9577\u920d\u5316\u3092\u7e54\u308a\u8fbc\u307f\uff09<\/li>\n\n\n\n<li><strong>\u76ee\u6a19\uff1a\u00a585,000\u301c100,000<\/strong>\uff08\u73fe\u5024\u00b110%\uff09<\/li>\n\n\n\n<li>\u78ba\u7387\uff1a<strong>45%<\/strong><\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">\u5f31\u6c17\u30b7\u30ca\u30ea\u30aa\uff1a\u300cNAND\u30b5\u30a4\u30af\u30eb\u53cd\u8ee2\u300d<\/h3>\n\n\n\n<ul>\n<li>FY27\u7740\u5730\u306f\u00a52\u5146\u524d\u5f8c\u306b\u3068\u3069\u307e\u308a\u3001FY28\u306f\u30d4\u30fc\u30af\u30a2\u30a6\u30c8<\/li>\n\n\n\n<li>Samsung\u30fbSK Hynix\u306e\u5897\u7523\u30672027\u5e74\u5f8c\u534a\u304b\u3089\u4fa1\u683c\u6025\u843d<\/li>\n\n\n\n<li>\u9069\u6b63PER 12\u301c15\u500d<\/li>\n\n\n\n<li><strong>\u76ee\u6a19\uff1a\u00a550,000\u301c65,000<\/strong><\/li>\n\n\n\n<li>\u78ba\u7387\uff1a<strong>30%<\/strong><\/li>\n<\/ul>\n\n\n\n<p>\u671f\u5f85\u5024\u30d9\u30fc\u30b9\u3067\u8a08\u7b97\u3059\u308b\u3068\u3001<strong>\u00a585,000\u301c95,000\u7a0b\u5ea6<\/strong>\u304c\u73fe\u5024\u306e\u5408\u7406\u7684\u30ec\u30f3\u30b8\u3067\u3042\u308b\u3002\u3059\u3067\u306b<strong>\u307b\u307c\u30d5\u30eb\u30d0\u30ea\u30e5\u30fc<\/strong>\u3067\u53d6\u5f15\u3055\u308c\u3066\u3044\u308b\u3001\u3068\u3044\u3046\u306e\u304c\u79c1\u306e\u8aad\u307f\u3060\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">5. NAND\u30b5\u30a4\u30af\u30eb\u306e\u6b74\u53f2 \u2015 \u3044\u3064\u5d29\u308c\u308b\u304b<\/h2>\n\n\n\n<p>\u30e1\u30e2\u30ea\u534a\u5c0e\u4f53\u306f<strong>\u30b7\u30ea\u30b3\u30f3\u30b5\u30a4\u30af\u30eb<\/strong>\u304c3\u301c4\u5e74\u3067\u5fc5\u305a\u56de\u308b\u3002<\/p>\n\n\n\n<p>\u904e\u53bb\u306eNAND\u5e02\u6cc1\u306e\u5c71\u3068\u8c37\u3092\u6574\u7406\u3059\u308b\u3068\u3001<\/p>\n\n\n\n<ul>\n<li>2017-2018\uff1aDRAM\u30fbNAND\u30c0\u30d6\u30eb\u30d4\u30fc\u30af \u2192 2019\u5e74\u306b\u6025\u843d<\/li>\n\n\n\n<li>2020-2021\uff1a\u30b3\u30ed\u30ca\u9700\u8981\u3067\u30d4\u30fc\u30af \u2192 2022-2023\u5e74\u306b\u904e\u53bb\u6700\u60aa\u306e\u4e0d\u6cc1<\/li>\n\n\n\n<li>2024-2026\uff1aAI\u9700\u8981\u3067\u65b0\u305f\u306a\u5c71 \u2192 <strong>\u6b21\u306e\u8c37\u306f\u3044\u3064\u304b\uff1f<\/strong><\/li>\n<\/ul>\n\n\n\n<p>\u6b74\u53f2\u7684\u30d1\u30bf\u30fc\u30f3\u306b\u5f93\u3048\u3070\u3001<strong>2027\u5e74\u5f8c\u534a\u304b\u30892028\u5e74\u524d\u534a\u304c\u9700\u7d66\u8ee2\u63db\u70b9<\/strong>\u306b\u306a\u308b\u53ef\u80fd\u6027\u304c\u9ad8\u3044\u3002<\/p>\n\n\n\n<p>\u7406\u7531\u306f\u5358\u7d14\u3060\u3002<\/p>\n\n\n\n<ul>\n<li>\u30cf\u30a4\u30d1\u30fc\u30b9\u30b1\u30fc\u30e9\u30fc\u304c2026-2027\u5e74\u306b<strong>\u904e\u5270\u767a\u6ce8<\/strong>\u3059\u308b\u30a4\u30f3\u30bb\u30f3\u30c6\u30a3\u30d6<\/li>\n\n\n\n<li>Samsung\u30fbSK Hynix\u30fb\u30ad\u30aa\u30af\u30b7\u30a2\u306e\u5168\u793e\u304c<strong>\u5897\u7523\u6295\u8cc7\u4e2d<\/strong><\/li>\n\n\n\n<li>AI\u30ef\u30fc\u30af\u30ed\u30fc\u30c9\u304c\u3042\u308b\u6642\u70b9\u3067**\u300c\u5b66\u7fd2\u304b\u3089\u63a8\u8ad6\u3078\u300d\u30b7\u30d5\u30c8**\u3057\u3001\u30b9\u30c8\u30ec\u30fc\u30b8\u9700\u8981\u306e\u4f38\u3073\u7387\u304c\u920d\u5316<\/li>\n<\/ul>\n\n\n\n<p>\u305f\u3060\u3057\u3001\u4eca\u56de\u306fHBM\u3068\u3044\u3046\u5225\u5e02\u5834\uff08DRAM\u30b5\u30a4\u30c9\u306eAI\u5411\u3051\uff09\u304cNAND\u5de5\u5834\u306e\u7814\u7a76\u958b\u767a\u30ea\u30bd\u30fc\u30b9\u3092\u5438\u3044\u4e0a\u3052\u3066\u304a\u308a\u3001\u5897\u7523\u7af6\u4e89\u306e\u30b9\u30d4\u30fc\u30c9\u304c\u904e\u53bb\u3088\u308a\u9045\u3044\u3002\u3053\u306e\u4e00\u70b9\u3060\u3051\u304c\u3001\u30b5\u30a4\u30af\u30eb\u5d29\u58ca\u3092\u9045\u3089\u305b\u308b\u69cb\u9020\u7684\u8981\u56e0\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<p>\u79c1\u306e\u898b\u7acb\u3066\u306f\u3001<strong>2027\u5e74Q3\u301cQ4\u304c\u8ee2\u63db\u70b9<\/strong>\u3002\u305d\u308c\u307e\u3067\u306b\u5229\u78ba\u3092\u8003\u3048\u308b\u3079\u304d\u6642\u9593\u8ef8\u3067\u3042\u308b\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">6. \u30ea\u30b9\u30af\u306e\u6574\u7406<\/h2>\n\n\n\n<p>\u5929\u4e95\u8b70\u8ad6\u3092\u3059\u308b\u3046\u3048\u3067\u3001\u4fa1\u683c\u3092\u5d29\u3057\u3046\u308b\u8981\u56e0\u30923\u3064\u3002<\/p>\n\n\n\n<p><strong>\u30ea\u30b9\u30af\u2460\uff1aAI\u6295\u8cc7\u306e\u898b\u76f4\u3057\u5831\u9053<\/strong> Meta\u3001Google\u3001Microsoft\u3001Amazon\u306e\u3044\u305a\u308c\u304b\u304c\u300cAI capex\u898b\u76f4\u3057\u300d\u3092\u793a\u5506\u3057\u305f\u77ac\u9593\u306b\u3001NAND\u30b9\u30c8\u30fc\u30ea\u30fc\u306f\u5d29\u308c\u308b\u3002\u3053\u308c\u306f\u7a81\u767a\u30ea\u30b9\u30af\u3067\u3001\u30c6\u30ec\u30b0\u30e9\u30d5\u3055\u308c\u306a\u3044\u3002<\/p>\n\n\n\n<p><strong>\u30ea\u30b9\u30af\u2461\uff1aSamsung\/SK Hynix\u306e\u5927\u898f\u6a21\u5897\u7523\u767a\u8868<\/strong> \u7279\u306bSamsung\u304c2026\u5e74\u5f8c\u534a\u306b2027\u5e74\u5411\u3051\u5897\u7523\u3092\u767a\u8868\u3059\u308b\u3068\u3001ASP\u30b7\u30ca\u30ea\u30aa\u304c\u63fa\u3089\u3050\u3002<\/p>\n\n\n\n<p><strong>\u30ea\u30b9\u30af\u2462\uff1a\u4e2d\u56fd\u5411\u3051\u8f38\u51fa\u898f\u5236\u306e\u8ffd\u52a0<\/strong> NAND\u306e\u4e2d\u56fd\u8ca9\u58f2\u6bd4\u7387\u306f10%\u5f37\u3002\u3053\u308c\u304c\u5207\u3089\u308c\u308b\u3068\u696d\u7e3e\u4e0b\u65b9\u4fee\u6b63\u306f\u5fc5\u81f3\u3002<\/p>\n\n\n\n<p>\u9006\u306b<strong>\u4e0a\u632f\u308c\u8981\u56e0<\/strong>\u3082\u3042\u308b\u3002Western Digital\u3068\u306e\u7d71\u5408\u518d\u5354\u8b70\u3001\u521d\u914d\u5f53\u306e\u767a\u8868\u3001\u81ea\u793e\u682a\u8cb7\u3044\u5ba3\u8a00\u306a\u3069\u3002\u305f\u3060\u3057\u3001\u3053\u308c\u3089\u306f\u300c\u696d\u7e3e\u3067\u78ba\u5b9a\u3057\u305f\u597d\u6750\u6599\u3092\u682a\u4e3b\u9084\u5143\u3068\u3057\u3066\u8fd4\u3059\u300d\u6027\u683c\u306e\u3082\u306e\u3067\u3001\u5229\u76ca\u62e1\u5927\u5c40\u9762\u304c\u7d42\u308f\u3063\u305f\u5f8c\u306e\u8a71\u3060\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">7. \u30dd\u30b8\u30b7\u30e7\u30f3\u8ad6 \u2015 \u3044\u307e\u4f55\u304c\u3067\u304d\u308b\u304b<\/h2>\n\n\n\n<p>\u5929\u4e95\u8b70\u8ad6\u306e\u7d50\u8ad6\u3092\u5b9f\u8df5\u306b\u843d\u3068\u3059\u3068\u3001\u3053\u3046\u306a\u308b\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u3059\u3067\u306b\u4fdd\u6709\u3057\u3066\u3044\u308b\u5834\u5408<\/h3>\n\n\n\n<ul>\n<li><strong>\u534a\u5206\u5229\u78ba\u3001\u534a\u5206\u7d99\u7d9a<\/strong>\u304c\u7121\u96e3<\/li>\n\n\n\n<li>\u5229\u78ba\u3057\u305f\u5206\u306f\u300c\u3044\u3064\u304b\u306e\u4e0b\u843d\u3067\u8cb7\u3044\u623b\u3059\u305f\u3081\u306e\u5f3e\u300d\u3068\u3057\u3066\u78ba\u4fdd<\/li>\n\n\n\n<li>\u6b8b\u308a\u306fFY27\/3 Q1\u6c7a\u7b97\uff088\u6708\u4e0a\u65ec\u767a\u8868\u4e88\u5b9a\uff09\u307e\u3067\u4fdd\u6709\u3057\u3066\u3001\u30b3\u30f3\u30bb\u30f3\u30b5\u30b9\u901a\u308a\u7740\u5730\u3059\u308b\u304b\u78ba\u8a8d<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">\u307e\u3060\u6301\u3063\u3066\u3044\u306a\u3044\u5834\u5408<\/h3>\n\n\n\n<ul>\n<li><strong>\u8ffd\u3044\u304b\u3051\u8cb7\u3044\u306f\u3057\u306a\u3044<\/strong><\/li>\n\n\n\n<li>\u62bc\u3057\u76ee\uff08<strong>\u00a580,000\u5272\u308c\u7a0b\u5ea6<\/strong>\uff09\u307e\u3067\u5f85\u3064<\/li>\n\n\n\n<li>\u305d\u308c\u3067\u3082\u5165\u308a\u305f\u3051\u308c\u3070\u3001<strong>\u5c11\u984d\u30fb\u5206\u6563\u30fb\u8907\u6570\u56de\u30a8\u30f3\u30c8\u30ea\u30fc<\/strong><\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">NISA\u6210\u9577\u6295\u8cc7\u67a0\u3067\u8003\u3048\u308b\u306a\u3089<\/h3>\n\n\n\n<ul>\n<li>\u30dc\u30e9\u30c6\u30a3\u30ea\u30c6\u30a3\u304c\u5927\u304d\u304f\u30015\u5e74\u30b9\u30d1\u30f3\u306e\u975e\u8ab2\u7a0e\u67a0\u3092\u6700\u5927\u5316\u3059\u308b\u306b\u306f\u76f8\u6027\u304c\u60aa\u3044<\/li>\n\n\n\n<li>\u3069\u3046\u3057\u3066\u3082\u5165\u308c\u305f\u3044\u306a\u3089\u3001<strong>\u3064\u307f\u305f\u3066\u67a0\u3067\u306a\u304f\u6210\u9577\u6295\u8cc7\u67a0\u3067\u3001\u30dd\u30fc\u30c8\u30d5\u30a9\u30ea\u30aa\u306e5%\u4ee5\u5185<\/strong><\/li>\n\n\n\n<li>\u540c\u3058AI\u95a2\u9023\u3067\u3082\u3001\u3088\u308a\u5206\u6563\u52b9\u3044\u305f\u9298\u67c4\u3084ETF\u306e\u307b\u3046\u304c\u975e\u8ab2\u7a0e\u6069\u6075\u3092\u53d6\u308a\u3084\u3059\u3044<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">\u7d50\u8a9e<\/h2>\n\n\n\n<p>\u30ad\u30aa\u30af\u30b7\u30a2\u306e\u682a\u4fa1\u4e0a\u6607\u306f<strong>\u5b9f\u9700\u306b\u652f\u3048\u3089\u308c\u305f\u672c\u7269\u306e\u52d5\u304d<\/strong>\u3067\u3042\u308b\u3002\u30ca\u30e9\u30c6\u30a3\u30d6\u8cb7\u3044\u3060\u3051\u306765\u500d\u306b\u306a\u3063\u305f\u306e\u3067\u306f\u306a\u3044\u3002<\/p>\n\n\n\n<p>\u3057\u304b\u3057\u3001\u73fe\u5024\u00a594,000\u306f<strong>FY27\u30d9\u30b9\u30c8\u30b1\u30fc\u30b9\u3092\u307b\u307c\u7e54\u308a\u8fbc\u3093\u3067\u3044\u308b<\/strong>\u6c34\u6e96\u3067\u3042\u308b\u3002\u3053\u3053\u304b\u3089\u5148\u306e\u4e0a\u6607\u306f\u3001<strong>FY28\u4ee5\u964d\u306e\u3055\u3089\u306a\u308b\u4e0a\u65b9\u4fee\u6b63<\/strong>\u304b\u3001<strong>\u30d0\u30ea\u30e5\u30a8\u30fc\u30b7\u30e7\u30f3\u30fb\u30de\u30eb\u30c1\u30d7\u30eb\u62e1\u5f35<\/strong>\u306e\u3069\u3061\u3089\u304b\u304c\u5fc5\u8981\u3060\u3002<\/p>\n\n\n\n<p>\u524d\u8005\u306f2027\u5e74\u5f8c\u534a\u306eNAND\u30b5\u30a4\u30af\u30eb\u61f8\u5ff5\u304c\u3042\u308b\u4ee5\u4e0a\u3001\u78ba\u5ea6\u306f\u9ad8\u304f\u306a\u3044\u3002\u5f8c\u8005\u306f\u534a\u5c0e\u4f53\u30e1\u30e2\u30ea\u306e\u6b74\u53f2\u3092\u898b\u308b\u3068\u3001PER 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