創業管理期末報告 - nfuba.nfu.edu.twnfuba.nfu.edu.tw/ezfiles/31/1031/img/468/dog.pdf ·...

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創業管理期末報告 授課教師:蔡璞 學生:19756301 邱鈴驊 19756309 姚子琪 19756312 夏儷文

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  • 19756301

    19756309

    19756312

  • [email protected]

    042-xxxxxxx

    2009.06

    2

    mailto:[email protected]
  • ................................................................................................................................2 ................................................................................................................................3 ......................................................................5

    ..........................................................................................5 ......................................................................................7 ......................................................................................................9 ....................................................................................................10

    ....................................................................................................11 ....................................................................................................12

    ....................................................................................................12 ............................................................................................13 ............................................................................................15 ....................................................................................................16 ............................................................................................17

    ............................................................20 ............................................................................................20 ....................................................................................................21 ........................................................................................23

    ....................................................................25 ........................................................................................25

    ..................................................................................................25 ....................................................................................................26

    () .................................................................................................26 () .....................................................................................28 () .....................................................................................29

    ......................................................................................................................30 ..............................................................................................................31

  • 4,100

    ()

    [email protected]

    042-xxxxxxx0933-123-xxx

    ()

    [email protected]

    042-xxxxxxx0933-456-xxx

    ()

    [email protected]

    042-xxxxxxx0933-789-xxx

    2

    mailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]
  • 1,5002,600

    1,500

    2,600

    3

  • 2011 100%2012 85%2013 50% 2011

    2010 2011 2012 2013 2014

    EPS (1.29) 0.78 3.48 7.39 10.04

    EPS

    -5

    0

    5

    10

    15

    2010 2011 2012 2013 2014

    EPS

    4

  • ()

    5

  • SPA

    ()

    ()

    6

  • AHB

    250 80%

    AHB(Animal Human Bond 15 )

    52% 23%4%

    80%

    ()

    7

    http://www.contentinside.net/redirkey.aspx?wid=10&kw=%25u6295%25u8CC7http://www.contentinside.net/redirkey.aspx?wid=10&kw=%25u7F8E%25u5BB9http://www.contentinside.net/redirkey.aspx?wid=10&kw=%25u751F%25u6D3B
  • 8

  • ()

    ()

    9

  • SPA

    10

  • ,

    20

    ,

    10

    3

    5

    , 5

    (2 ) ,,

    5

    (4 ) ,

    2

    (2 ) ,

    ,

    3

    (4 ) ,

    (2 ) , 5

    (4 ) ,

    11

  • 80%

    12

  • 2007 1 6,000

    8,830 7,480 1988 56%

    63%

    2006

    2.3% 1,630 1,320

    3.9%

    200

    250

    10%

    2008 02

    20

    APPMA 63%

    glucosamine

    NestleP&G

    2005

    99

    MRI

    13

  • 3,700

    900

    PetSmart

    31

    2000 4 5,000

    Channel

    Hermes Polo Ralph Lauren

    1,200

    14

  • 15

  • 18 20

    20 30

    30 45

    45

    16

  • 1.

    2.

    1. 2.

    :

    17

  • 1 2 3 4

    18

  • SWOT

    (STRENGTH) (WEAKNESS)

    1

    2 3

    4

    1

    2 3 4 5

    (OPPORTUNITY) (THREAT)

    1

    2

    3 4

    ,

    ,

    1

    2

    3

    4

    19

  • () 10~15

    ()

    ()--

    ()

    ()

    ()

    ()

    ()

    ()

    ()

    ,

    20

  • 12%

    200

    250

    10%

    92

    70%

    21

    http://www.contentinside.net/redirkey.aspx?wid=10&kw=%25u5BF5%25u7269http://www.contentinside.net/redirkey.aspx?wid=10&kw=%25u7D93%25u6FDFhttp://www.contentinside.net/redirkey.aspx?wid=10&kw=%25u7D93%25u6FDFhttp://www.contentinside.net/redirkey.aspx?wid=10&kw=%25u53F0%25u5317http://www.econet.com.cn/reports/2006293congwu.htmhttp://www.econet.com.cn/reports/2006293congwu.htm
  • SPA

    22

  • 23

  • 4P

    Product

    Price

    Place&

    Distribution

    Promotion

    4P

    24

  • (

    )

    (2 )

    (4 )

    (2 )

    (4 )

    (2 )

    (4 )

    25

  • 4,100

    2011 100%2012 85%2013 50%

    2011

    EPS

    EPS

    -5

    0

    5

    10

    15

    2010 2011 2012 2013 2014

    EPS

    ()

    1

    34

    2010 2011 2012 2013 2014

    16,000 32,000 59,200 88,800 133,200

    4,000 8,000 14,800 22,200 33,300

    5,000 10,000 18,500 27,750 41,625

    4,000 8,000 14,800 22,200 33,300

    3,000 6,000 11,100 16,650 24,975

    15,974 21,718 34,913 45,261 60,327

    26 10,282 24,287 43,539 72,873

    5,327 7,068 8,419 9,889 11,908

    -5,301 3,214 15,867 33,650 60,965

    0 0 0 0 0

    26

  • 0 0 0 0 0

    0 0 0 0 0

    0 0 0 0 0

    -5,301 3,214 15,867 33,650 60,965

    0 0 1,587 3,365 6,097

    0 0 0 0 13,717

    -5,301 3,214 14,281 30,285 41,151

    EPS (1.29) 0.78 3.48 7.39 10.04

    2011

    EPS 2010 2011 2012 2013 2014

    1 -1.29 0.78 3.48 7.39 10.04

    0.85 -1.68 0.01 2.2 5.46 7.87 1.15 -0.91 1.56 4.77 9.32 12.21

    -4

    -2

    0

    2

    4

    6

    8

    10

    12

    14

    2010 2011 2012 2013 2014

    1

    0.85

    1.15

    27

  • ()

    2008/12/31 2009/12/31 2010/12/31 2011/12/31 2012/12/31

    2010 2011 2012 2013 2014

    41,000

    41,000 22,533 12,015 8,333 19,207

    0 4,000 8,000 14,800 22,200

    0 -3,893 -5,329 -8,628 -11,215

    0 2,336 3,198 5,177 6,729

    0 1,246 1,705 2,761 3,589

    16,000 32,000 59,200 88,800 133,200

    -5,327 -7,068 -8,419 -9,889 -11,908

    -15,574 -21,318 -34,513 -44,861 -59,927

    -4,000 -8,000 -14,800 -22,200 -33,300

    3,893 5,329 8,628 11,215 14,982

    -2,336 -3,198 -5,177 -6,729 -8,989

    -1,246 -1,705 -2,761 -3,589 -4,794

    -2,000

    -7,878 -10,247 -11,827 -12,618 -12,620

    0 0 -1,587 -3,365 -6,097

    0 0 0 0 -13,717

    22,533 12,015 8,333 19,207 37,340

    :

    0

    10,000

    20,000

    30,000

    40,000

    2010 2011 2012 2013 2014

    28

  • ()

    2010/12/31 2011/12/31 2012/12/31 2013/12/31 2014/12/31

    2010 2011 2012 2013 2014

    22,533 12,015 8,333 19,207 37,340

    4,000 8,000 14,800 22,200 33,300

    2,336 3,198 5,177 6,729 8,989

    1,246 1,705 2,761 3,589 4,794

    30,115 24,918 31,071 51,725 84,423

    1,600 1,200 800 400 0

    0 0 0 0 0

    31,715 26,118 31,871 52,125 84,423

    3,893 5,329 8,628 11,215 14,982

    35,699 38,913 53,194 83,478 124,630

    41,000 41,000 41,000 41,000 41,000

    0 0 0 0 0

    -5,301 -2,087 12,194 42,478 83,630

    39,593 44,242 61,822 94,694 139,612

    29

  • 1.

    2.

    3.

    30

  • 2010 2011 2012 2013 2014

    4,000 8,000 14,800 22,200 33,300

    5,000 10,000 18,500 27,750 41,625

    4,000 8,000 14,800 22,200 33,300

    3,000 6,000 11,100 16,650 24,975

    16,000 32,000 59,200 88,800 133,200

    1

    2010 2011 2012 2013 2014

    4,000 8,000 14,800 22,200 33,300

    5,000 10,000 18,500 27,750 41,625

    4,000 8,000 14,800 22,200 33,300

    3,000 6,000 11,100 16,650 24,975

    16,000 32,000 59,200 88,800 133,200

    2010 2011 2012 2013 2014

    2,000

    2,000

    250 30 30 30 30

    600 100 100 100 100

    1,000 300 300 300 300

    31

  • 5,000 3,000 3,000 3,000 3,000

    6,850 3,430 3,430 3,430 3,430

    1,028 515 515 515 515

    7,878 3,945 3,945 3,945 3,945

    0 1,576 2,364 3,153 3,942

    7,878 10,247 11,827 12,618 12,620

    400 400 400 400 400

    1,600 1,200 800 400 0

    32

  • 2010 2011 2012 2013 2014

    2,795 3,617 3,798 3,988 4,187

    80 96 115 138 166

    15 18 22 26 31

    120 132 145 160 176

    12 13 13 14 15

    100 110 121 133 146

    120 144 173 207 249

    250 360 471 583 746

    196 253 266 279 293

    0 0 0 0 0

    168 217 228 239 251

    140 181 190 199 209

    0 0 0 0 0

    300 360 432 518 622

    0 0 0 0 0

    480 960 1,776 2,664 3,996

    0 0 0 0 0

    20 22 24 27 29

    150 165 182 200 220

    0 0 0 0 0

    0 0 0 0 0

    200 210 221 232 243

    20 22 24 27 29

    50 55 61 67 73

    12 13 15 16 18

    100 120 144 173 207

    0 0 0 0 0

    5,327 7,068 8,419 9,889 11,908

    33

  • 1 1 1 1 1

    1 1 1 1 1

    1 1 1 1 1

    0 0 0 0 0

    1 1 1 1 1

    0 1 1 1 1

    0 0 0 0 0

    1 1 1 1 1

    1 1 1 1 1

    0 0 0 0 0

    6 7 7 7 7

    50 53 55 58 61

    0 0 0 0 0

    50 53 55 58 61

    0 0 0 0 0

    50 53 55 58 61

    50 53 55 58 61

    0 0 0 0 0

    35 37 39 41 43

    30 32 33 35 36

    0 0 0 0 0

    650 683 717 752 790

    0 0 0 0 0

    650 683 717 752 790

    0 0 0 0 0

    650 683 717 752 790

    34

  • 0 683 717 752 790

    0 0 0 0 0

    455 478 502 527 553

    390 410 430 451 474

    0 0 0 0 0

    2,795 3,617 3,798 3,988 4,187

    100 110 121 133 146

    50 50 50 50 50

    3 5 7 9 12

    150 250 350 450 600

    250 360 471 583 746

    35

  • 2010 2011 2012 2013 2014

    7,410 7,781 11,466 12,039 12,641

    300 360 432 518 622

    150 180 216 259 311

    100 110 121 133 146

    0 0 0 0

    0 0 0 0 0

    519 545 803 843 885

    0 0 0 0 0

    445 467 688 722 758

    371 389 573 602 632

    1,200 1,440 1,728 2,074 2,488

    0 0 0 0 0

    160 320 592 888 1,332

    0 0 0 0 0

    0 0 0 0 0

    0 0 0 0 0

    0 0 0 0 0

    400 400 400 400 400

    0 0 0 0 0

    100 105 110 116 122

    4,800 9,600 17,760 26,640 39,960

    20 22 24 27 29

    0 0 0 0 0

    0 0 0 0 0

    0 0 0 0 0

    15,974 21,718 34,913 45,261 60,327

    2 2 3 3 3

    36

  • 4 4 5 5 5

    2 2 3 3 3

    6 6 8 8 8

    14 14 19 19 19

    20 21 26 26 26

    24 45 67 100 151

    100 105 110 116 122

    30 32 33 35 36

    50 53 55 58 61

    25 26 28 29 30

    2,600 2,730 4,300 4,515 4,740

    1,560 1,638 2,150 2,257 2,370

    1,300 1,365 2,150 2,257 2,370

    1,950 2,048 2,867 3,010 3,160

    7,410 7,781 11,466 12,039 12,641

    1,200 2,400 4,440 6,660 9,990

    1,500 3,000 5,550 8,325 12,488

    1,200 2,400 4,440 6,660 9,990

    900 1,800 3,330 4,995 7,493

    4,800 9,600 17,760 26,640 39,960

    0.3 0.3 0.3 0.3 0.3

    0.3 0.3 0.3 0.3 0.3

    0.3 0.3 0.3 0.3 0.3

    0.3 0.3 0.3 0.3 0.3

    37

  • 1

    34

    2010 2011 2012 2013 2014

    16,000 32,000 59,200 88,800 133,200

    4,000 8,000 14,800 22,200 33,300

    5,000 10,000 18,500 27,750 41,625

    4,000 8,000 14,800 22,200 33,300

    3,000 6,000 11,100 16,650 24,975

    15,974 21,718 34,913 45,261 60,327

    26 10,282 24,287 43,539 72,873

    5,327 7,068 8,419 9,889 11,908

    -5,301 3,214 15,867 33,650 60,965

    0 0 0 0 0

    0 0 0 0 0

    0 0 0 0 0

    0 0 0 0 0

    -5,301 3,214 15,867 33,650 60,965

    0 0 1,587 3,365 6,097

    0 0 0 0 13,717

    -5,301 3,214 14,281 30,285 41,151

    EPS (1.29) 0.78 3.48 7.39 10.04

    38

  • 2008/12/31 2009/12/31 2010/12/31 2011/12/31 2012/12/31

    2010 2011 2012 2013 2014

    41,000

    41,000 22,533 12,015 8,333 19,207

    0 4,000 8,000 14,800 22,200

    0 -3,893 -5,329 -8,628 -11,215

    0 2,336 3,198 5,177 6,729

    0 1,246 1,705 2,761 3,589

    16,000 32,000 59,200 88,800 133,200

    -5,327 -7,068 -8,419 -9,889 -11,908

    -15,574 -21,318 -34,513 -44,861 -59,927

    -4,000 -8,000 -14,800 -22,200 -33,300

    3,893 5,329 8,628 11,215 14,982

    -2,336 -3,198 -5,177 -6,729 -8,989

    -1,246 -1,705 -2,761 -3,589 -4,794

    -2,000

    -7,878 -10,247 -11,827 -12,618 -12,620

    0 0 -1,587 -3,365 -6,097

    0 0 0 0 -13,717

    22,533 12,015 8,333 19,207 37,340

    0.25

    0.25

    0.15

    0.08

    39

  • 2010/12/31 2011/12/31 2012/12/31 2013/12/31 2014/12/31

    2010 2011 2012 2013 2014

    22,533 12,015 8,333 19,207 37,340

    4,000 8,000 14,800 22,200 33,300

    2,336 3,198 5,177 6,729 8,989

    1,246 1,705 2,761 3,589 4,794

    30,115 24,918 31,071 51,725 84,423

    1,600 1,200 800 400 0

    0 0 0 0 0

    31,715 26,118 31,871 52,125 84,423

    3,893 5,329 8,628 11,215 14,982

    35,699 38,913 53,194 83,478 124,630

    41,000 41,000 41,000 41,000 41,000

    0 0 0 0 0

    -5,301 -2,087 12,194 42,478 83,630

    39,593 44,242 61,822 94,694 139,612

    40

  • 15%

    2010 2011 2012 2013 2014

    3,400 6,800 12,580 18,870 28,305

    4,250 8,500 15,725 23,588 35,381

    3,400 6,800 12,580 18,870 28,305

    2,550 5,100 9,435 14,153 21,229

    13,600 27,200 50,320 75,480 113,220

    0.85

    2010 2011 2012 2013 2014

    4,000 8,000 14,800 22,200 33,300

    5,000 10,000 18,500 27,750 41,625

    4,000 8,000 14,800 22,200 33,300

    3,000 6,000 11,100 16,650 24,975

    16,000 32,000 59,200 88,800 133,200

    2010 2011 2012 2013 2014

    2,000

    2,000

    250 30 30 30 30

    600 100 100 100 100

    41

  • 1,000 300 300 300 300

    5,000 3,000 3,000 3,000 3,000

    6,850 3,430 3,430 3,430 3,430

    1,028 515 515 515 515

    7,878 3,945 3,945 3,945 3,945

    0 1,576 2,364 3,153 3,942

    7,878 10,247 11,827 12,618 12,620

    400 400 400 400 400

    1,600 1,200 800 400 0

    42

  • 2010 2011 2012 2013 2014

    2,795 3,617 3,798 3,988 4,187

    80 96 115 138 166

    15 18 22 26 31

    120 132 145 160 176

    12 13 13 14 15

    100 110 121 133 146

    120 144 173 207 249

    250 360 471 583 746

    196 253 266 279 293

    0 0 0 0 0

    168 217 228 239 251

    140 181 190 199 209

    0 0 0 0 0

    300 360 432 518 622

    0 0 0 0 0

    408 816 1,510 2,264 3,397

    0 0 0 0 0

    20 22 24 27 29

    150 165 182 200 220

    0 0 0 0 0

    0 0 0 0 0

    200 210 221 232 243

    20 22 24 27 29

    50 55 61 67 73

    12 13 15 16 18

    100 120 144 173 207

    0 0 0 0 0

    5,255 6,924 8,153 9,490 11,308

    43

  • 1 1 1 1 1

    1 1 1 1 1

    1 1 1 1 1

    0 0 0 0 0

    1 1 1 1 1

    0 1 1 1 1

    0 0 0 0 0

    1 1 1 1 1

    1 1 1 1 1

    0 0 0 0 0

    6 7 7 7 7

    50 53 55 58 61

    0 0 0 0 0

    50 53 55 58 61

    0 0 0 0 0

    50 53 55 58 61

    50 53 55 58 61

    0 0 0 0 0

    35 37 39 41 43

    30 32 33 35 36

    0 0 0 0 0

    650 683 717 752 790

    0 0 0 0 0

    650 683 717 752 790

    0 0 0 0 0

    650 683 717 752 790

    44

  • 0 683 717 752 790

    0 0 0 0 0

    455 478 502 527 553

    390 410 430 451 474

    0 0 0 0 0

    2,795 3,617 3,798 3,988 4,187

    100 110 121 133 146

    50 50 50 50 50

    3 5 7 9 12

    150 250 350 450 600

    250 360 471 583 746

    2010 2011 2012 2013 2014

    7,410 7,781 11,466 12,039 12,641

    300 360 432 518 622

    150 180 216 259 311

    100 110 121 133 146

    0 0 0 0

    0 0 0 0 0

    519 545 803 843 885

    0 0 0 0 0

    445 467 688 722 758

    371 389 573 602 632

    1,200 1,440 1,728 2,074 2,488

    0 0 0 0 0

    136 272 503 755 1,132

    0 0 0 0 0

    45

  • 0 0 0 0 0

    0 0 0 0 0

    0 0 0 0 0

    400 400 400 400 400

    0 0 0 0 0

    100 105 110 116 122

    4,080 8,160 15,096 22,644 33,966

    20 22 24 27 29

    0 0 0 0 0

    0 0 0 0 0

    0 0 0 0 0

    15,230 20,230 32,161 41,132 54,134

    2 2 3 3 3

    4 4 5 5 5

    2 2 3 3 3

    6 6 8 8 8

    14 14 19 19 19

    20 21 26 26 26

    20 38 57 85 128

    100 105 110 116 122

    30 32 33 35 36

    50 53 55 58 61

    25 26 28 29 30

    2,600 2,730 4,300 4,515 4,740

    1,560 1,638 2,150 2,257 2,370

    1,300 1,365 2,150 2,257 2,370

    46

  • 1,950 2,048 2,867 3,010 3,160

    7,410 7,781 11,466 12,039 12,641

    1,020 2,040 3,774 5,661 8,492

    1,275 2,550 4,718 7,076 10,614

    1,020 2,040 3,774 5,661 8,492

    765 1,530 2,831 4,246 6,369

    4,080 8,160 15,096 22,644 33,966

    0.3 0.3 0.3 0.3 0.3

    0.3 0.3 0.3 0.3 0.3

    0.3 0.3 0.3 0.3 0.3

    0.3 0.3 0.3 0.3 0.3

    47

  • 1

    34

    2010 2011 2012 2013 2014

    13,600 27,200 50,320 75,480 113,220

    3,400 6,800 12,580 18,870 28,305

    4,250 8,500 15,725 23,588 35,381

    3,400 6,800 12,580 18,870 28,305

    2,550 5,100 9,435 14,153 21,229

    15,230 20,230 32,161 41,132 54,134

    -1,630 6,970 18,159 34,348 59,086

    5,255 6,924 8,153 9,490 11,308

    -6,885 46 10,007 24,858 47,778

    0 0 0 0 0

    0 0 0 0 0

    0 0 0 0 0

    0 0 0 0 0

    -6,885 46 10,007 24,858 47,778

    0 0 1,001 2,486 4,778

    0 0 0 0 10,750

    -6,885 46 9,006 22,373 32,250

    EPS (1.68) 0.01 2.20 5.46 7.87

    48

  • 2008/12/31 2009/12/31 2010/12/31 2011/12/31 2012/12/31

    2010 2011 2012 2013 2014

    41,000

    41,000 21,534 8,434 472 4,516

    0 3,400 6,800 12,580 18,870

    0 -3,707 -4,957 -7,940 -10,183

    0 2,224 2,974 4,764 6,110

    0 1,186 1,586 2,541 3,259

    13,600 27,200 50,320 75,480 113,220

    -5,255 -6,924 -8,153 -9,490 -11,308

    -14,830 -19,830 -31,761 -40,732 -53,734

    -3,400 -6,800 -12,580 -18,870 -28,305

    3,707 4,957 7,940 10,183 13,433

    -2,224 -2,974 -4,764 -6,110 -8,060

    -1,186 -1,586 -2,541 -3,259 -4,299

    -2,000

    -7,878 -10,247 -11,827 -12,618 -12,620

    0 0 -1,001 -2,486 -4,778

    0 0 0 0 -10,750

    21,534 8,434 472 4,516 15,371

    0.25

    0.25

    0.15

    0.08

    49

  • 2010/12/31 2011/12/31 2012/12/31 2013/12/31 2014/12/31

    2010 2011 2012 2013 2014

    21,534 8,434 472 4,516 15,371

    3,400 6,800 12,580 18,870 28,305

    2,224 2,974 4,764 6,110 8,060

    1,186 1,586 2,541 3,259 4,299

    28,345 19,794 20,356 32,754 56,035

    1,600 1,200 800 400 0

    0 0 0 0 0

    29,945 20,994 21,156 33,154 56,035

    3,707 4,957 7,940 10,183 13,433

    34,115 34,161 43,167 65,540 97,790

    41,000 41,000 41,000 41,000 41,000

    0 0 0 0 0

    -6,885 -6,839 2,167 24,540 56,790

    37,823 39,118 51,107 75,722 111,223

    50

  • 15%

    2010 2011 2012 2013 2014

    4,600 9,200 17,020 25,530 38,295

    5,750 11,500 21,275 31,913 47,869

    4,600 9,200 17,020 25,530 38,295

    3,450 6,900 12,765 19,148 28,721

    18,400 36,800 68,080 102,120 153,180

    1.15

    2010 2011 2012 2013 2014

    4,000 8,000 14,800 22,200 33,300

    5,000 10,000 18,500 27,750 41,625

    4,000 8,000 14,800 22,200 33,300

    3,000 6,000 11,100 16,650 24,975

    16,000 32,000 59,200 88,800 133,200

    2010 2011 2012 2013 2014

    2,000

    2,000

    250 30 30 30 30

    600 100 100 100 100

    51

  • 1,000 300 300 300 300

    5,000 3,000 3,000 3,000 3,000

    6,850 3,430 3,430 3,430 3,430

    1,028 515 515 515 515

    7,878 3,945 3,945 3,945 3,945

    0 1,576 2,364 3,153 3,942

    7,878 10,247 11,827 12,618 12,620

    400 400 400 400 400

    1,600 1,200 800 400 0

    52

  • 2010 2011 2012 2013 2014

    2,795 3,617 3,798 3,988 4,187

    80 96 115 138 166

    15 18 22 26 31

    120 132 145 160 176

    12 13 13 14 15

    100 110 121 133 146

    120 144 173 207 249

    250 360 471 583 746

    196 253 266 279 293

    0 0 0 0 0

    168 217 228 239 251

    140 181 190 199 209

    0 0 0 0 0

    300 360 432 518 622

    0 0 0 0 0

    552 1,104 2,042 3,064 4,595

    0 0 0 0 0

    20 22 24 27 29

    150 165 182 200 220

    0 0 0 0 0

    0 0 0 0 0

    200 210 221 232 243

    20 22 24 27 29

    50 55 61 67 73

    12 13 15 16 18

    100 120 144 173 207

    0 0 0 0 0

    5,399 7,212 8,686 10,289 12,507

    53

  • 1 1 1 1 1

    1 1 1 1 1

    1 1 1 1 1

    0 0 0 0 0

    1 1 1 1 1

    0 1 1 1 1

    0 0 0 0 0

    1 1 1 1 1

    1 1 1 1 1

    0 0 0 0 0

    6 7 7 7 7

    50 53 55 58 61

    0 0 0 0 0

    50 53 55 58 61

    0 0 0 0 0

    50 53 55 58 61

    50 53 55 58 61

    0 0 0 0 0

    35 37 39 41 43

    30 32 33 35 36

    0 0 0 0 0

    650 683 717 752 790

    0 0 0 0 0

    650 683 717 752 790

    0 0 0 0 0

    650 683 717 752 790

    0 683 717 752 790

    54

  • 0 0 0 0 0

    455 478 502 527 553

    390 410 430 451 474

    0 0 0 0 0

    2,795 3,617 3,798 3,988 4,187

    100 110 121 133 146

    50 50 50 50 50

    3 5 7 9 12

    150 250 350 450 600

    250 360 471 583 746

    55

  • 2010 2011 2012 2013 2014

    7,410 7,781 11,466 12,039 12,641

    300 360 432 518 622

    150 180 216 259 311

    100 110 121 133 146

    0 0 0 0

    0 0 0 0 0

    519 545 803 843 885

    0 0 0 0 0

    445 467 688 722 758

    371 389 573 602 632

    1,200 1,440 1,728 2,074 2,488

    0 0 0 0 0

    184 368 681 1,021 1,532

    0 0 0 0 0

    0 0 0 0 0

    0 0 0 0 0

    0 0 0 0 0

    400 400 400 400 400

    0 0 0 0 0

    100 105 110 116 122

    5,520 11,040 20,424 30,636 45,954

    20 22 24 27 29

    0 0 0 0 0

    0 0 0 0 0

    0 0 0 0 0

    16,718 23,206 37,666 49,390 66,521

    2 2 3 3 3

    56

  • 4 4 5 5 5

    2 2 3 3 3

    6 6 8 8 8

    14 14 19 19 19

    20 21 26 26 26

    27 52 77 116 173

    100 105 110 116 122

    30 32 33 35 36

    50 53 55 58 61

    25 26 28 29 30

    2,600 2,730 4,300 4,515 4,740

    1,560 1,638 2,150 2,257 2,370

    1,300 1,365 2,150 2,257 2,370

    1,950 2,048 2,867 3,010 3,160

    7,410 7,781 11,466 12,039 12,641

    1,380 2,760 5,106 7,659 11,489

    1,725 3,450 6,383 9,574 14,361

    1,380 2,760 5,106 7,659 11,489

    1,035 2,070 3,830 5,744 8,616

    5,520 11,040 20,424 30,636 45,954

    0.3 0.3 0.3 0.3 0.3

    0.3 0.3 0.3 0.3 0.3

    0.3 0.3 0.3 0.3 0.3

    0.3 0.3 0.3 0.3 0.3

    57

  • 1

    34

    2010 2011 2012 2013 2014

    18,400 36,800 68,080 102,120 153,180

    4,600 9,200 17,020 25,530 38,295

    5,750 11,500 21,275 31,913 47,869

    4,600 9,200 17,020 25,530 38,295

    3,450 6,900 12,765 19,148 28,721

    16,718 23,206 37,666 49,390 66,521

    1,682 13,594 30,414 52,730 86,659

    5,399 7,212 8,686 10,289 12,507

    -3,717 6,382 21,728 42,441 74,152

    0 0 0 0 0

    0 0 0 0 0

    0 0 0 0 0

    0 0 0 0 0

    -3,717 6,382 21,728 42,441 74,152

    0 0 2,173 4,244 7,415

    0 0 0 0 16,684

    -3,717 6,382 19,555 38,197 50,053

    EPS (0.91) 1.56 4.77 9.32 12.21

    58

  • 2008/12/31 2009/12/31 2010/12/31 2011/12/31 2012/12/31

    2010 2011 2012 2013 2014

    41,000

    41,000 23,532 15,597 16,195 33,899

    0 4,600 9,200 17,020 25,530

    0 -4,079 -5,701 -9,317 -12,248

    0 2,448 3,421 5,590 7,349

    0 1,305 1,824 2,981 3,919

    18,400 36,800 68,080 102,120 153,180

    -5,399 -7,212 -8,686 -10,289 -12,507

    -16,318 -22,806 -37,266 -48,990 -66,121

    -4,600 -9,200 -17,020 -25,530 -38,295

    4,079 5,701 9,317 12,248 16,530

    -2,448 -3,421 -5,590 -7,349 -9,918

    -1,305 -1,824 -2,981 -3,919 -5,290

    -2,000

    -7,878 -10,247 -11,827 -12,618 -12,620

    0 0 -2,173 -4,244 -7,415

    0 0 0 0 -16,684

    23,532 15,597 16,195 33,899 59,309

    0.25

    0.25

    0.15

    0.08

    59

  • 2010/12/31 2011/12/31 2012/12/31 2013/12/31 2014/12/31

    2010 2011 2012 2013 2014

    23,532 15,597 16,195 33,899 59,309

    4,600 9,200 17,020 25,530 38,295

    2,448 3,421 5,590 7,349 9,918

    1,305 1,824 2,981 3,919 5,290

    31,885 30,042 41,786 70,696 112,811

    1,600 1,200 800 400 0

    0 0 0 0 0

    33,485 31,242 42,586 71,096 112,811

    4,079 5,701 9,317 12,248 16,530

    37,283 43,665 63,220 101,417 151,470

    41,000 41,000 41,000 41,000 41,000

    0 0 0 0 0

    -3,717 2,665 22,220 60,417 110,470

    41,363 49,366 72,537 113,665 168,000

    60

    () () ()