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年に入っても値上げが続く。","evidence_url":"/jp-stock/ai-analysis/?t=2211","updated_at":"2026-11-01T22:46:00+00:00"},{"ticker":"2212","asset_id":"fut_wheat","name":"山崎製パン","kind":"text_candidate","direction":"未確認","evidence":"食品事業は営業利益率4〜5%という薄利多売の構造を長年抱えてきたが、2026年7月出荷分から食パン・菓子パン・和洋菓子の計306品目を値上げするなど、小麦・油脂の原材料高を価格に転嫁する力は年々強まっており、2025年12月期は3期連続の最高益、ROEも8.9%まで改善した。","evidence_url":"/jp-stock/ai-analysis/?t=2212","updated_at":"2026-11-01T22:46:00+00:00"},{"ticker":"2215","asset_id":"fut_wheat","name":"第一屋製パン","kind":"text_candidate","direction":"未確認","evidence":"原料の小麦や油脂、包装の資材、人件費、燃料の上昇が、そのまま利益を削る。","evidence_url":"/jp-stock/ai-analysis/?t=2215","updated_at":"2026-11-01T22:46:00+00:00"},{"ticker":"2217","asset_id":"fut_wheat","name":"モロゾフ","kind":"text_candidate","direction":"未確認","evidence":"原材料は、カカオ、乳製品、小麦、油脂のすべてが高い。","evidence_url":"/jp-stock/ai-analysis/?t=2217","updated_at":"2026-11-01T22:46:00+00:00"},{"ticker":"2218","asset_id":"fut_wheat","name":"日糧製パン","kind":"text_candidate","direction":"未確認","evidence":"小麦や油脂、砂糖の値段は世界の相場と円の水準で決まる。","evidence_url":"/jp-stock/ai-analysis/?t=2218","updated_at":"2026-11-01T22:46:00+00:00"},{"ticker":"2222","asset_id":"fut_wheat","name":"寿スピリッツ","kind":"text_candidate","direction":"未確認","evidence":"カカオ・小麦・乳製品の価格と、物流費が利益率を押し下げる。","evidence_url":"/jp-stock/ai-analysis/?t=2222","updated_at":"2026-11-01T22:46:00+00:00"},{"ticker":"2224","asset_id":"fut_wheat","name":"コモ","kind":"text_candidate","direction":"未確認","evidence":"ただ原材料の小麦、バター、包装資材の上昇が続き、各社は値上げで利益を守る局面にある。","evidence_url":"/jp-stock/ai-analysis/?t=2224","updated_at":"2026-11-01T22:46:00+00:00"},{"ticker":"2267","asset_id":"fut_wheat","name":"株式会社ヤクルト本社","kind":"text_candidate","direction":"未確認","evidence":"コーヒー豆・カカオ・小麦・砂糖・包装資材・物流費の高騰を背景に、食品業界全体で値上げが続いている。","evidence_url":"/jp-stock/ai-analysis/?t=2267","updated_at":"2026-11-01T22:46:00+00:00"},{"ticker":"2269","asset_id":"fut_wheat","name":"明治ホールディングス","kind":"text_candidate","direction":"未確認","evidence":"コーヒー豆・カカオ・小麦・砂糖・包装資材・物流費の高騰を背景に、食品業界全体で値上げが続いている。","evidence_url":"/jp-stock/ai-analysis/?t=2269","updated_at":"2026-11-01T22:46:00+00:00"},{"ticker":"245A","asset_id":"fut_wheat","name":"INGS","kind":"text_candidate","direction":"未確認","evidence":"小麦、鶏肉、魚介、油脂などの原材料には供給不安と値上がりがあり、メニュー価格への転嫁が遅れると利益率が下がる。","evidence_url":"/jp-stock/ai-analysis/?t=245A","updated_at":"2026-11-01T22:46:01+00:00"},{"ticker":"250A","asset_id":"fut_wheat","name":"シマダヤ","kind":"text_candidate","direction":"未確認","evidence":"麺専業ゆえに開発資源を集中できる反面、小麦粉、包装資材、エネルギー、物流費が同時に上がると逃げ場は少ない。","evidence_url":"/jp-stock/ai-analysis/?t=250A","updated_at":"2026-11-01T22:46:01+00:00"},{"ticker":"2801","asset_id":"fut_wheat","name":"キッコーマン","kind":"text_candidate","direction":"未確認","evidence":"前は値上げ疲れ・PB 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倍）に直した。","evidence_url":"/jp-stock/ai-analysis/?t=2801","updated_at":"2026-11-01T22:46:02+00:00"},{"ticker":"2806","asset_id":"fut_wheat","name":"ユタカフーズ","kind":"text_candidate","direction":"未確認","evidence":"調味料の原料（大豆、小麦、食塩、油脂）は価格が上がりやすく、値上げの転嫁は顧客との交渉で決まる。","evidence_url":"/jp-stock/ai-analysis/?t=2806","updated_at":"2026-11-01T22:46:02+00:00"},{"ticker":"2831","asset_id":"fut_wheat","name":"はごろもフーズ","kind":"text_candidate","direction":"未確認","evidence":"原料はまぐろ・かつおなどの水産物と、小麦・果実・米だ。","evidence_url":"/jp-stock/ai-analysis/?t=2831","updated_at":"2026-11-01T22:46:02+00:00"},{"ticker":"2875","asset_id":"fut_wheat","name":"東洋水産","kind":"text_candidate","direction":"未確認","evidence":"業界共通の逆風として、原材料（小麦・油脂・包装資材・物流費）高が続いており、値上げの頻度が増すほど消費者の値ごろ感の学習が進み、PBシフトや量の離脱が起きやすい点は国内・海外双方に共通するリスクである。","evidence_url":"/jp-stock/ai-analysis/?t=2875","updated_at":"2026-11-01T22:46:02+00:00"},{"ticker":"2876","asset_id":"fut_wheat","name":"デルソーレ","kind":"text_candidate","direction":"未確認","evidence":"小麦・チーズ・電気代の上昇を値上げで取り戻すまで半年から 1 年かかる。","evidence_url":"/jp-stock/ai-analysis/?t=2876","updated_at":"2026-11-01T22:46:02+00:00"},{"ticker":"2882","asset_id":"fut_wheat","name":"イートアンドホールディングス","kind":"text_candidate","direction":"未確認","evidence":"小麦、豚肉、野菜、包装資材、物流費が上がる。","evidence_url":"/jp-stock/ai-analysis/?t=2882","updated_at":"2026-11-01T22:46:02+00:00"},{"ticker":"2897","asset_id":"fut_wheat","name":"日清食品ホールディングス","kind":"text_candidate","direction":"未確認","evidence":"菓子事業（湖池屋等）は、原料（じゃがいも・小麦・油脂）価格の変動や競争環境の影響を受けやすく、即席麺に比べると利益率は低い。","evidence_url":"/jp-stock/ai-analysis/?t=2897","updated_at":"2026-11-01T22:46:02+00:00"},{"ticker":"2919","asset_id":"fut_wheat","name":"マルタイ","kind":"text_candidate","direction":"未確認","evidence":"原料の小麦・油脂・パーム油は為替と市況で動き、2026年も値上げが相次いだ。","evidence_url":"/jp-stock/ai-analysis/?t=2919","updated_at":"2026-11-01T22:46:02+00:00"},{"ticker":"2936","asset_id":"fut_wheat","name":"ベースフード","kind":"text_candidate","direction":"未確認","evidence":"小麦全粒粉などの素材の配合を自社で開発し、ミックス粉と完成品の製造を別々の外部工場に委ねる。","evidence_url":"/jp-stock/ai-analysis/?t=2936","updated_at":"2026-11-01T22:46:02+00:00"},{"ticker":"3066","asset_id":"fut_wheat","name":"JBイレブン","kind":"text_candidate","direction":"未確認","evidence":"小麦や豚骨などの原材料と人件費が上がり、値上げで追いつけなかった。","evidence_url":"/jp-stock/ai-analysis/?t=3066","updated_at":"2026-11-01T22:46:03+00:00"},{"ticker":"3196","asset_id":"fut_wheat","name":"ホットランドホールディングス","kind":"text_candidate","direction":"未確認","evidence":"小麦粉を納めるニップンも 5％を持つ。","evidence_url":"/jp-stock/ai-analysis/?t=3196","updated_at":"2026-11-01T22:46:03+00:00"},{"ticker":"3306","asset_id":"fut_wheat","name":"日本製麻","kind":"text_candidate","direction":"未確認","evidence":"どちらも会社の意思より、小麦の相場と自動車の生産に左右される。","evidence_url":"/jp-stock/ai-analysis/?t=3306","updated_at":"2026-11-01T22:46:03+00:00"},{"ticker":"3329","asset_id":"fut_wheat","name":"東和フードサービス","kind":"text_candidate","direction":"未確認","evidence":"コーヒー豆、乳製品、米、小麦は 3% を超えて上がりやすく、最低賃金の上昇で人件費は名目で年 3〜5% 増える。","evidence_url":"/jp-stock/ai-analysis/?t=3329","updated_at":"2026-11-01T22:46:03+00:00"},{"ticker":"3399","asset_id":"fut_wheat","name":"株式会社丸千代山岡家","kind":"text_candidate","direction":"未確認","evidence":"豚骨・チャーシュー・小麦・のりなどは、円安と国際相場で上がりやすい。","evidence_url":"/jp-stock/ai-analysis/?t=3399","updated_at":"2026-11-01T22:46:03+00:00"},{"ticker":"3543","asset_id":"fut_wheat","name":"株式会社コメダホールディングス","kind":"text_candidate","direction":"未確認","evidence":"コストの面では、コーヒー豆、乳製品、小麦などの食材の相場と、人件費が上昇している。","evidence_url":"/jp-stock/ai-analysis/?t=3543","updated_at":"2026-11-01T22:46:04+00:00"},{"ticker":"4028","asset_id":"fut_wheat","name":"石原産業","kind":"text_candidate","direction":"未確認","evidence":"いま育てている剤は、北米の小麦で伸びる除草剤トルピラレートと、インドで増えている殺虫剤シクラニリプロールだ。","evidence_url":"/jp-stock/ai-analysis/?t=4028","updated_at":"2026-11-01T22:46:05+00:00"},{"ticker":"4665","asset_id":"fut_wheat","name":"株式会社ダスキン","kind":"text_candidate","direction":"未確認","evidence":"小麦・油・物流・人件費の高騰は、加盟店への卸値と本部の費用の両方を押し上げる。","evidence_url":"/jp-stock/ai-analysis/?t=4665","updated_at":"2026-11-01T22:46:07+00:00"},{"ticker":"5891","asset_id":"fut_wheat","name":"SAKIGAKEホールディングス","kind":"text_candidate","direction":"未確認","evidence":"最低賃金は上がり続け、小麦・豚骨・油・電気代も円安で高止まりする。","evidence_url":"/jp-stock/ai-analysis/?t=5891","updated_at":"2026-11-01T22:46:09+00:00"},{"ticker":"6334","asset_id":"fut_wheat","name":"明治機械","kind":"text_candidate","direction":"未確認","evidence":"明治機械は、小麦を粉にする製粉の工場と、家畜の配合飼料の工場を建てる会社だ。","evidence_url":"/jp-stock/ai-analysis/?t=6334","updated_at":"2026-11-01T22:46:10+00:00"},{"ticker":"7130","asset_id":"fut_wheat","name":"ヤマエグループホールディングス","kind":"text_candidate","direction":"未確認","evidence":"ヤマエグループホールディングスは、九州で最大の食品卸を軸に、砂糖・小麦粉・飼料、住宅建材までを手がける持株会社だ。","evidence_url":"/jp-stock/ai-analysis/?t=7130","updated_at":"2026-11-01T22:46:12+00:00"},{"ticker":"7554","asset_id":"fut_wheat","name":"幸楽苑","kind":"text_candidate","direction":"未確認","evidence":"幸楽苑は麺と餃子を自社工場でつくるため、食材の調達力ではやや有利だが、小麦と豚肉の価格に左右される。","evidence_url":"/jp-stock/ai-analysis/?t=7554","updated_at":"2026-11-01T22:46:13+00:00"},{"ticker":"7611","asset_id":"fut_wheat","name":"株式会社ハイデイ日高","kind":"text_candidate","direction":"未確認","evidence":"米・豚肉・小麦粉の値上がりが重い。","evidence_url":"/jp-stock/ai-analysis/?t=7611","updated_at":"2026-11-01T22:46:13+00:00"},{"ticker":"8006","asset_id":"fut_wheat","name":"ユアサ・フナショク","kind":"text_candidate","direction":"未確認","evidence":"家庭用の加工食品、冷凍・チルド食品、生鮮、菓子、酒類のほか、業務用の小麦粉、砂糖、油脂、業務用食材、化成品、燃料を扱う。","evidence_url":"/jp-stock/ai-analysis/?t=8006","updated_at":"2026-11-01T22:46:13+00:00"},{"ticker":"8153","asset_id":"fut_wheat","name":"株式会社モスフードサービス","kind":"text_candidate","direction":"未確認","evidence":"牛肉、油、小麦、包装資材、物流費が同時に上がり、2026 年 4〜6 月期は国内事業の利益が 26% 減った。","evidence_url":"/jp-stock/ai-analysis/?t=8153","updated_at":"2026-11-01T22:46:14+00:00"},{"ticker":"9279","asset_id":"fut_wheat","name":"株式会社ギフトホールディングス","kind":"text_candidate","direction":"未確認","evidence":"麺は小麦、チャーシューは豚肉と輸入に頼る部分があり、円安にも弱い。","evidence_url":"/jp-stock/ai-analysis/?t=9279","updated_at":"2026-11-01T22:46:15+00:00"},{"ticker":"9360","asset_id":"fut_wheat","name":"鈴与シンワート","kind":"text_candidate","direction":"未確認","evidence":"物流事業は売上約35億円で、倉庫保管・流通加工、港湾荷役、小麦粉・セメントの輸送を担う。","evidence_url":"/jp-stock/ai-analysis/?t=9360","updated_at":"2026-11-01T22:46:15+00:00"},{"ticker":"9850","asset_id":"fut_wheat","name":"グルメ杵屋","kind":"text_candidate","direction":"未確認","evidence":"原材料も、小麦・そば粉・だしの値上がりが続く。","evidence_url":"/jp-stock/ai-analysis/?t=9850","updated_at":"2026-11-01T22:46:16+00:00"},{"ticker":"9900","asset_id":"fut_wheat","name":"株式会社サガミホールディングス","kind":"text_candidate","direction":"未確認","evidence":"そば粉や小麦、魚介の価格は、輸入の割合が高く、円安150円の前提ではさらに上がりやすい。","evidence_url":"/jp-stock/ai-analysis/?t=9900","updated_at":"2026-11-01T22:46:16+00:00"},{"ticker":"9936","asset_id":"fut_wheat","name":"株式会社王将フードサービス","kind":"text_candidate","direction":"未確認","evidence":"餃子の主原料である小麦、豚肉、野菜の価格は、円安と天候で動く。","evidence_url":"/jp-stock/ai-analysis/?t=9936","updated_at":"2026-11-01T22:46:16+00:00"}],"exposure_count":48},"macro":{"version":"jp-coking-cif-relative-20261027-r1","as_of":"2026-10-27","target_date":"2036-10-25","jp_cpi":0.03,"jp_short_rate":0.02,"jp_long_rate":0.03,"usd_jpy_terminal":150,"basis":"日本CPI3%、短期2%、長期3%、2036年ドル円150円。"}}