Numbering Code	U-ECON00 20020 SJ43	Year/Term	2022 ・ Second semester
Number of Credits	2	Course Type	Seminar
Target Year	2nd year students	Target Student
Language	Japanese	Day/Period	Fri.4
Instructor name	KUSANO MASAKI (Graduate School of Economics Professor)
Outline and Purpose of the Course	The aim of this seminar is to conduct business analysis and valuation using publicly available information, and study the methods for estimating the value of a company. The steps in business analysis and valuation are as follows: (1) Strategy analysis, (2) accounting analysis, (3) financial analysis, and (4) prospective analysis. The primary focus of this seminar will be financial analysis.
Course Goals	Acquiring foundational knowledge in financial analysis enables students to use quantitative and qualitative information in order to conduct fundamental analysis.
Schedule and Contents	Using the method of financial analysis they learned during the first semester, 2nd and 3rd year students will jointly form groups, and carry out business analysis and valuation. The selection of industries and businesses to analyze will be left to the discretion of each group. The seminar will primarily serve as a space where each group can deliver its reports, and engage in discussion. Sessions 1-3: Reports on strategy analysis and accounting analysis Sessions 4-6: Reports on financial statement analysis Sessions 7-10: Reports on prospective analysis and valuation Sessions 11-14: Overall reports Session 15: Conclusion At the end of the year, students must write a report summarizing the results of their group work, and publish a collection of essays.
Evaluation Methods and Policy	Grade evaluation will be conducted based on participation (i.e., attendance, reports, comments) (80%) and a paper (20%).
Course Requirements	It would be better if students had either already completed, or are currently taking classes in the following subjects: Introductory accounting, accounting, financial accounting, managerial finance, and management strategy.
Study outside of Class (preparation and review)	Because this seminar revolves around group reports and discussions, students are required to engage in group work outside of class.
Textbooks	Textbooks/References	Sakurai Hisakatsu, 『財務諸表分析（第8版）』(Chuokeizai-sha), Stephen Penman, 『アナリストのための財務諸表分析とバリュエーション』 (Yuhikaku Publishing)
References, etc.	Ito Kunio,『新・企業価値評価』 (Nihon Keizai Shimbun Shuppan-sha); Otomasa Shota, 『財務諸表分析（第3版）』(Dobunkan Shuppan)