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	Thu.4・5
Instructor name	ISAGAWA NOBUYUKI (Graduate School of Management Professor)
Outline and Purpose of the Course	In this seminar for 2nd to 4th year students, we will be learning about financial analysis and financial theory (i.e., corporate finance, securities investment theory). Corporate finance is a systematized approach toward conducting corporate analysis from the perspective of an investor, as well as a body of thinking about how to evaluate the value of a business or a stock. Securities investment theory is a field which deals with the relationship between risk and return in capital markets, as well as mechanisms which drive the stock value of a security. Both are closely connected. In my seminar, students will acquire knowledge of corporate finance and securities investment theory, and primarily conduct analysis of individual businesses.
Course Goals	In this 2nd year student seminar, we will be conducting business analysis, with a core focus on financial analysis. Our aim is for students to have a proper understanding of the relationship between management and financial indicators, as well as the connection between financial indicators, enterprise value, and stock prices. Attendees are required to attend scheduled second semester classes such as "Asset Management Business Practices and Laws" and Graduate School of Management classes such as "Corporate Finance" and "Valuations," etc.
Schedule and Contents	. Self-study of study aid material on financial statement analysis (Sakurai, etc.). . Obtain a company’s actual financial statements and conduct analysis using Excel. . Acquire an understanding of the theoretical thinking and indicators relating to stock valuation. . Study foundational finance theory (portfolio analysis and CAPM). . Learn about the DCF (Discounted Cash Flow) method, a foundational rule for valuations. . Carry out financial modeling and understand its structure.
Evaluation Methods and Policy	Evaluation will be made based on seminar participation, assigned reports, etc.
Course Requirements	None
Study outside of Class (preparation and review)	We will be holding some competitive seminars and visiting some companies.
Textbooks	Textbooks/References	Isagawa Nobuyuki, 『コーポレートファイナンス入門（第２版）』, (Nikkei Bunko), Isagawa Nobuyuki, Kasahara Masato, 『はじめての企業価値評価』 (Nikkei Bunko).
References, etc.	Berk, DeMarzo, 『コーポレートファイナンス（入門編）（応用編）』 (Pearson)