{"schema_version":1,"as_of":"2026-11-03T00:43:17+09:00","asset":{"id":"jp_power_system","name":"電力JEPX（全国システム）","category":"電力","unit":"JPY/kWh","currency":"JPY","frequency":"daily","max_age_days":4,"basis":"JEPX day ahead 48-slot arithmetic mean 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+0.25（電力価格と太陽光の需要で利益が振れる。","evidence_url":"/jp-stock/ai-analysis/?t=4651","updated_at":"2026-11-01T22:46:07+00:00"},{"ticker":"477A","asset_id":"jp_power_system","name":"スタートライン","kind":"text_candidate","direction":"未確認","evidence":"電気料金、農園の償却、就業の実質的な質に敏感な現場型。","evidence_url":"/jp-stock/ai-analysis/?t=477A","updated_at":"2026-11-01T22:46:08+00:00"},{"ticker":"5423","asset_id":"jp_power_system","name":"東京製鐵株式会社","kind":"text_candidate","direction":"未確認","evidence":"その代わり電力を大量に使い、電力価格が採算を左右する。","evidence_url":"/jp-stock/ai-analysis/?t=5423","updated_at":"2026-11-01T22:46:09+00:00"},{"ticker":"5445","asset_id":"jp_power_system","name":"東京鐵鋼株式会社","kind":"text_candidate","direction":"未確認","evidence":"一方、電気料金・人件費・輸送費は高止まりし、各社は値上げを狙う。","evidence_url":"/jp-stock/ai-analysis/?t=5445","updated_at":"2026-11-01T22:46:09+00:00"},{"ticker":"5858","asset_id":"jp_power_system","name":"STG","kind":"text_candidate","direction":"未確認","evidence":"日本、中国、タイ、マレーシアに工場を持つことは顧客対応力になる反面、各国の賃金、規制、電力料金、品質管理の違いを抱える。","evidence_url":"/jp-stock/ai-analysis/?t=5858","updated_at":"2026-11-01T22:46:09+00:00"},{"ticker":"5884","asset_id":"jp_power_system","name":"クラダシ","kind":"text_candidate","direction":"未確認","evidence":"電池を充放電する物理的な仕事はAIに消されないものの、取引の最適化は競争相手も導入するため、電力価格差が特別に同社へ帰属するとは限らない。","evidence_url":"/jp-stock/ai-analysis/?t=5884","updated_at":"2026-11-01T22:46:09+00:00"},{"ticker":"603A","asset_id":"jp_power_system","name":"アイ・グリッド・ソリューションズ","kind":"text_candidate","direction":"未確認","evidence":"企業の脱炭素目標、電力価格の変動、再エネ調達を求める取引先の要求が需要を支える。","evidence_url":"/jp-stock/ai-analysis/?t=603A","updated_at":"2026-11-01T22:46:09+00:00"},{"ticker":"6195","asset_id":"jp_power_system","name":"ホープ","kind":"text_candidate","direction":"未確認","evidence":"過去の電力小売事業は卸電力価格の高騰で巨額損失を生み、2022年には子会社が破産した。","evidence_url":"/jp-stock/ai-analysis/?t=6195","updated_at":"2026-11-01T22:46:10+00:00"},{"ticker":"646A","asset_id":"jp_power_system","name":"クラサスケミカル","kind":"text_candidate","direction":"未確認","evidence":"水も含むため個別の電力料金とは解釈しない。","evidence_url":"/jp-stock/ai-analysis/?t=646A","updated_at":"2026-11-01T22:46:10+00:00"},{"ticker":"6928","asset_id":"jp_power_system","name":"エノモト","kind":"text_candidate","direction":"未確認","evidence":"フィリピンと中国に量産機能を持ち、銅やニッケルの価格や輸入規制、電力料金、地震や台風の停止に収益が左右される。","evidence_url":"/jp-stock/ai-analysis/?t=6928","updated_at":"2026-11-01T22:46:11+00:00"},{"ticker":"6996","asset_id":"jp_power_system","name":"ニチコン","kind":"text_candidate","direction":"未確認","evidence":"家庭用蓄電池とV2Hは、電気料金の上昇、災害への備え、太陽光の余剰電力の活用が追い風だ。","evidence_url":"/jp-stock/ai-analysis/?t=6996","updated_at":"2026-11-01T22:46:11+00:00"},{"ticker":"7047","asset_id":"jp_power_system","name":"ポート","kind":"text_candidate","direction":"未確認","evidence":"AIエージェントが本人の許可を得て複数の電力料金を比較し、契約変更まで実行するようになれば、外部の仲介サイトや成約支援担当者を経由する必要は減る。","evidence_url":"/jp-stock/ai-analysis/?t=7047","updated_at":"2026-11-01T22:46:12+00:00"},{"ticker":"7111","asset_id":"jp_power_system","name":"INEST","kind":"text_candidate","direction":"未確認","evidence":"スマホの保証や近所のトラブルの相談は、電気料金とまとめて払える形もできた。","evidence_url":"/jp-stock/ai-analysis/?t=7111","updated_at":"2026-11-01T22:46:12+00:00"},{"ticker":"7273","asset_id":"jp_power_system","name":"イクヨ","kind":"text_candidate","direction":"未確認","evidence":"暗号資産のマイニングは、価格、電力料金、マシンの性能で利益が決まる。","evidence_url":"/jp-stock/ai-analysis/?t=7273","updated_at":"2026-11-01T22:46:12+00:00"},{"ticker":"7831","asset_id":"jp_power_system","name":"ウイルコホールディングス","kind":"text_candidate","direction":"未確認","evidence":"紙の値上がり、電力料金、物流費の上昇に加え、人件費も最低賃金の上昇で年3〜5%増える。","evidence_url":"/jp-stock/ai-analysis/?t=7831","updated_at":"2026-11-01T22:46:13+00:00"},{"ticker":"8002","asset_id":"jp_power_system","name":"丸紅","kind":"text_candidate","direction":"未確認","evidence":"ここでは電力事業を持分発受電量×卓売電力価格、金属資源を持分銅生産量×銅価格、農業資材をガビロン売却後に残した肥料・貯蔵事業の取扱量×単価、モビリティ・航空機・生活関連を取扱台数相当×単価で積み上げ、株価を出した。","evidence_url":"/jp-stock/ai-analysis/?t=8002","updated_at":"2026-11-01T22:46:13+00:00"},{"ticker":"8275","asset_id":"jp_power_system","name":"フォーバル","kind":"text_candidate","direction":"未確認","evidence":"電気料金の上昇を、そのまま企業価値の増加と考えてはならない。","evidence_url":"/jp-stock/ai-analysis/?t=8275","updated_at":"2026-11-01T22:46:14+00:00"},{"ticker":"8439","asset_id":"jp_power_system","name":"東京センチュリー","kind":"text_candidate","direction":"未確認","evidence":"環境インフラ事業の再エネ導入拡大は長期の追い風だが、固定価格買取（FIT/FIP）の優良案件の比重が下がるほど卸電力価格に近い単価に近づく構造は国内外共通で、バイオマス混焼発電事業の減損（468億円）はその構造的な圧力が表面化した例である。","evidence_url":"/jp-stock/ai-analysis/?t=8439","updated_at":"2026-11-01T22:46:14+00:00"},{"ticker":"8591","asset_id":"jp_power_system","name":"オリックス","kind":"text_candidate","direction":"未確認","evidence":"環境エネルギーは、再エネ導入目標に沿って設備容量が拡大する一方、FIT（固定価格買取）の優良案件の比重が下がるほど卸電力価格に近い単価に近づき、ここが長期の収益性を左右する。","evidence_url":"/jp-stock/ai-analysis/?t=8591","updated_at":"2026-11-01T22:46:14+00:00"},{"ticker":"8593","asset_id":"jp_power_system","name":"三菱ＨＣキャピタル","kind":"text_candidate","direction":"未確認","evidence":"環境エネルギーは再エネ導入拡大が長期の追い風だが、固定価格買取（FIT）の優良案件の比重が下がるほど卸電力価格に近い単価に近づく構造は国内外共通で、海外は政治・為替リスクも抱える。","evidence_url":"/jp-stock/ai-analysis/?t=8593","updated_at":"2026-11-01T22:46:14+00:00"},{"ticker":"8928","asset_id":"jp_power_system","name":"穴吹興産","kind":"text_candidate","direction":"未確認","evidence":"電力の一括供給は、電気料金の動きと規制に左右される。","evidence_url":"/jp-stock/ai-analysis/?t=8928","updated_at":"2026-11-01T22:46:15+00:00"},{"ticker":"8938","asset_id":"jp_power_system","name":"グローム・ホールディングス","kind":"text_candidate","direction":"未確認","evidence":"電力価格の差や需給調整市場の単価が下がれば、投資額が大きいまま収益だけが縮む。","evidence_url":"/jp-stock/ai-analysis/?t=8938","updated_at":"2026-11-01T22:46:15+00:00"},{"ticker":"9008","asset_id":"jp_power_system","name":"京王電鉄","kind":"text_candidate","direction":"未確認","evidence":"認可を待つ間に人件費や電力料金が上がれば、利益率が薄くなる。","evidence_url":"/jp-stock/ai-analysis/?t=9008","updated_at":"2026-11-01T22:46:15+00:00"},{"ticker":"9227","asset_id":"jp_power_system","name":"ＭＷＣＣ（旧マイクロ波化学）","kind":"text_candidate","direction":"未確認","evidence":"一方、鉱石の性質、原料価格、電力価格、設備の稼働率は案件ごとに異なる。","evidence_url":"/jp-stock/ai-analysis/?t=9227","updated_at":"2026-11-01T22:46:15+00:00"},{"ticker":"9445","asset_id":"jp_power_system","name":"フォーバルテレコム","kind":"text_candidate","direction":"未確認","evidence":"しかし、電力料金は消費者物価と同じ動きをしない。","evidence_url":"/jp-stock/ai-analysis/?t=9445","updated_at":"2026-11-01T22:46:16+00:00"},{"ticker":"9501","asset_id":"jp_power_system","name":"東京電力ホールディングス","kind":"text_candidate","direction":"未確認","evidence":"発電は柏崎刈羽原子力（2026年2月に6号機が事故後初めて再稼働、7号機は手続きが先行き）・JERA経由の火力・水力・再エネを組み合わせ、原発の再稼働が進むほど火力の燃料費が浮く構造は他の大手電力と同じだが、東電固有の点として、福島第一原発の廃炉・汚染水・デブリ取り出し費用（年2,500億円規模）が今後数十年続き、賠償費用は電気料金に含まれる一般負担金と、機構への特別負担金（2025年度400億円）で回収する仕組みが連結損益に組み込まれている。","evidence_url":"/jp-stock/ai-analysis/?t=9501","updated_at":"2026-11-01T22:46:16+00:00"},{"ticker":"9502","asset_id":"jp_power_system","name":"中部電力","kind":"text_candidate","direction":"未確認","evidence":"2022年度は燃料・卸電力価格の急騰で営業損益が赤字に沈んだが、2024年度に純利益4,031億円まで急回復した原動力は、発電事業の中核を担う持分法会社JERA（東京電力と50%ずつ出資）の投資利益で、2026年3月期も連結経常利益の過半をJERAが支える構造が続く。","evidence_url":"/jp-stock/ai-analysis/?t=9502","updated_at":"2026-11-01T22:46:16+00:00"},{"ticker":"9503","asset_id":"jp_power_system","name":"関西電力","kind":"text_candidate","direction":"未確認","evidence":"2022〜2023年度は燃料・卸電力価格の急騰と円安で営業損益が赤字に沈んだが、美浜・高浜・大飯で合計7基という大手電力9社で最多の原子炉を再稼働させたことで火力の焚き減らしが進み、2024年度に営業利益は7,289億円まで急回復した。","evidence_url":"/jp-stock/ai-analysis/?t=9503","updated_at":"2026-11-01T22:46:16+00:00"},{"ticker":"9505","asset_id":"jp_power_system","name":"北陸電力","kind":"text_candidate","direction":"未確認","evidence":"2023年の規制料金改定で電気料金の水準が上がり、七尾大田・敦賀の石炭火力を中心とする費用が料金に織り込まれた。","evidence_url":"/jp-stock/ai-analysis/?t=9505","updated_at":"2026-11-01T22:46:16+00:00"},{"ticker":"9507","asset_id":"jp_power_system","name":"四国電力","kind":"text_candidate","direction":"未確認","evidence":"燃料価格は3〜5か月遅れで電気料金に反映される。","evidence_url":"/jp-stock/ai-analysis/?t=9507","updated_at":"2026-11-01T22:46:16+00:00"},{"ticker":"9508","asset_id":"jp_power_system","name":"九州電力株式会社","kind":"text_candidate","direction":"未確認","evidence":"2022年度級の燃料・卸電力価格の急騰と円安が再来する","evidence_url":"/jp-stock/ai-analysis/?t=9508","updated_at":"2026-11-01T22:46:16+00:00"},{"ticker":"9511","asset_id":"jp_power_system","name":"沖縄電力","kind":"text_candidate","direction":"未確認","evidence":"沖縄電力は石炭火力を軸にしており、段階的な縮小は電気料金の上昇に直結する。","evidence_url":"/jp-stock/ai-analysis/?t=9511","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。"}}