2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6...
51
Transcript of 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6...
![Page 1: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/1.jpg)
![Page 2: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/2.jpg)
1
Appendix
20
23
26
2
2
9
12
15
![Page 3: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/3.jpg)
2
2
3
![Page 4: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/4.jpg)
3
![Page 5: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/5.jpg)
4
![Page 6: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/6.jpg)
5
![Page 7: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/7.jpg)
6
![Page 8: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/8.jpg)
7
J-REIT
15 J-REIT 2011 9 1 2012 1 31
B 4
SC SC SC 6
![Page 9: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/9.jpg)
8
![Page 10: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/10.jpg)
9
![Page 11: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/11.jpg)
10
![Page 12: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/12.jpg)
11
![Page 13: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/13.jpg)
12
S&P
R&I
JCR
UFJ
2012 2 29
![Page 14: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/14.jpg)
13
![Page 15: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/15.jpg)
14
2012 2 29
![Page 16: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/16.jpg)
15
![Page 17: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/17.jpg)
16
![Page 18: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/18.jpg)
17
![Page 19: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/19.jpg)
18
![Page 20: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/20.jpg)
19
![Page 21: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/21.jpg)
20
![Page 22: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/22.jpg)
21
![Page 23: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/23.jpg)
22
![Page 24: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/24.jpg)
23
2 14
3 6
![Page 25: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/25.jpg)
24
![Page 26: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/26.jpg)
25
2012 3 1 16
![Page 27: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/27.jpg)
![Page 28: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/28.jpg)
27
10
1
1
1
![Page 29: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/29.jpg)
28
60-90% 10-30%
0-10%
0-20%
20-40%
60-80%
A
50% 10%
5% 5% 5% 5%
5% 5% 5% 5%
1
1
2
![Page 30: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/30.jpg)
29
2012 2 29
![Page 31: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/31.jpg)
30
2012 3 1
![Page 32: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/32.jpg)
31
![Page 33: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/33.jpg)
32
![Page 34: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/34.jpg)
33
![Page 35: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/35.jpg)
34
![Page 36: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/36.jpg)
35
![Page 37: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/37.jpg)
36
![Page 38: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/38.jpg)
37
![Page 39: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/39.jpg)
38
![Page 40: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/40.jpg)
39
![Page 41: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/41.jpg)
40
������
�����
���
������� ��� ����
��
���� ��������������� ����������� ����������� �����������
��������
���
�
���
���
�����
�����
�����������
����
�����������
������
�����������
������
�� ���
���
���
�����
���
���
���
���
���
���
������
�����
�����
���
���
����������
���
���
����������
���
���
![Page 42: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/42.jpg)
41
![Page 43: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/43.jpg)
42
![Page 44: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/44.jpg)
43
![Page 45: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/45.jpg)
44
![Page 46: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/46.jpg)
45
![Page 47: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/47.jpg)
46
![Page 48: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/48.jpg)
47
![Page 49: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/49.jpg)
48
![Page 50: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/50.jpg)
49
![Page 51: 2222222222222file.reitdb.com/kaiji/8968/2012/20120411008588.pdf2 :L :cLc c bzG Kii6 jhih)j4jp2 Kij6 jhih)p4ki2 Kik6 jhii)j4jp2 Kil6 jhii)p4ki2 Kim6 jhij)j4jq2 !< ¥s¨r¦ Kin6 jhij)p4ki2](https://reader034.fdocuments.pl/reader034/viewer/2022042301/5ecbc6acaab05a781359c3fa/html5/thumbnails/51.jpg)
50