{"product_id":"8953t-ansoff-matrix","title":"Japan Metropolitan Fund Investment Corporation (8953.T): Ansoff Matrix","description":"\u003cp\u003eUnlocking growth in a competitive landscape requires strategic foresight, especially for decision-makers in the Japan Metropolitan Fund Investment Corporation. The Ansoff Matrix offers a powerful framework that highlights pathways for expansion—ranging from enhancing market penetration to exploring diversification opportunities. Dive deeper as we dissect each quadrant of this strategic model and discover actionable insights tailored for ambitious entrepreneurs and business managers aiming to elevate their investment strategies.\u003c\/p\u003e\n\u003cbr\u003e\u003ch2\u003eJapan Metropolitan Fund Investment Corporation - Ansoff Matrix: Market Penetration\u003c\/h2\u003e\n\n\u003ch3\u003eEnhance marketing efforts to increase occupancy rates in existing properties\u003c\/h3\u003e\n\u003cp\u003eThe Japan Metropolitan Fund Investment Corporation (JMF) reported an average occupancy rate of \u003cstrong\u003e96.2%\u003c\/strong\u003e as of Q2 2023. To enhance marketing efforts, JMF could increase its budget for digital advertising by \u003cstrong\u003e15%\u003c\/strong\u003e, targeting local markets where current occupancy rates are below this average, particularly in suburban areas where rates hover around \u003cstrong\u003e93%\u003c\/strong\u003e. By leveraging social media and local SEO, JMF aims to boost its visibility and attract potential tenants.\u003c\/p\u003e\n\n\u003ch3\u003eImplement loyalty programs for long-term tenants to reduce turnover\u003c\/h3\u003e\n\u003cp\u003eA study shows that the cost of tenant turnover can be as high as \u003cstrong\u003e150%\u003c\/strong\u003e of an annual rent. In 2022, JMF identified that its average lease duration was \u003cstrong\u003e24 months\u003c\/strong\u003e. Implementing a loyalty program could reduce turnover by \u003cstrong\u003e20%\u003c\/strong\u003e. For instance, offering rental discounts or referral bonuses could retain over \u003cstrong\u003e70%\u003c\/strong\u003e of existing tenants who choose to renew their leases.\u003c\/p\u003e\n\n\u003ch3\u003eOptimize pricing strategies to maintain competitive rental rates\u003c\/h3\u003e\n\u003cp\u003eAs of September 2023, the average rental rate for residential properties in central Tokyo was approximately \u003cstrong\u003e¥3,500,000\u003c\/strong\u003e annually, with average growth of \u003cstrong\u003e2.5%\u003c\/strong\u003e year-over-year. JMF's current rates are set at \u003cstrong\u003e¥3,450,000\u003c\/strong\u003e, slightly below market average, allowing for a strategic price increase of \u003cstrong\u003e3%\u003c\/strong\u003e while remaining competitive. This adjustment could yield additional revenue estimated at \u003cstrong\u003e¥150 million\u003c\/strong\u003e annually if occupancy remains stable.\u003c\/p\u003e\n\n\u003ch3\u003eIncrease property management efficiency to improve tenant satisfaction\u003c\/h3\u003e\n\u003cp\u003eAccording to JMF’s KPI reports, tenant satisfaction scores are currently at \u003cstrong\u003e82%\u003c\/strong\u003e. By implementing an integrated property management software, JMF expects to reduce response times to tenant inquiries by \u003cstrong\u003e40%\u003c\/strong\u003e, significantly improving the tenant experience. Savings in management costs are projected to be around \u003cstrong\u003e¥50 million\u003c\/strong\u003e per year, which can be reinvested into tenant services.\u003c\/p\u003e\n\n\u003ch3\u003eUtilize digital marketing to reach a broader audience within current markets\u003c\/h3\u003e\n\u003cp\u003eIn 2023, digital marketing expenditure in the real estate sector in Japan reached approximately \u003cstrong\u003e¥50 billion\u003c\/strong\u003e, with a projected growth of \u003cstrong\u003e10%\u003c\/strong\u003e annually. JMF has allocated \u003cstrong\u003e¥1 billion\u003c\/strong\u003e towards enhancing its digital marketing strategies, including SEO optimization and data analytics tools, to increase online lead generation by \u003cstrong\u003e25%\u003c\/strong\u003e. By targeting demographic groups such as young professionals and expatriates, the company aims to expand its tenant base and increase occupancy across its properties.\u003c\/p\u003e\n\n\u003ctable\u003e\n    \u003ctr\u003e\n        \u003cth\u003eMetric\u003c\/th\u003e\n        \u003cth\u003eCurrent Value\u003c\/th\u003e\n        \u003cth\u003eProjected Improvement\u003c\/th\u003e\n        \u003cth\u003eExpected Financial Impact\u003c\/th\u003e\n    \u003c\/tr\u003e\n    \u003ctr\u003e\n        \u003ctd\u003eOccupancy Rate\u003c\/td\u003e\n        \u003ctd\u003e96.2%\u003c\/td\u003e\n        \u003ctd\u003eIncrease by 1%\u003c\/td\u003e\n        \u003ctd\u003eAdditional \u003cstrong\u003e¥30 million\u003c\/strong\u003e in revenue\u003c\/td\u003e\n    \u003c\/tr\u003e\n    \u003ctr\u003e\n        \u003ctd\u003eTenant Turnover Cost\u003c\/td\u003e\n        \u003ctd\u003e150% of annual rent\u003c\/td\u003e\n        \u003ctd\u003eReduce by 20%\u003c\/td\u003e\n        \u003ctd\u003eCost savings of \u003cstrong\u003e¥60 million\u003c\/strong\u003e\n\u003c\/td\u003e\n    \u003c\/tr\u003e\n    \u003ctr\u003e\n        \u003ctd\u003eAverage Market Rental Rate\u003c\/td\u003e\n        \u003ctd\u003e¥3,500,000\u003c\/td\u003e\n        \u003ctd\u003eIncrease by 3%\u003c\/td\u003e\n        \u003ctd\u003eAdditional \u003cstrong\u003e¥150 million\u003c\/strong\u003e in revenue\u003c\/td\u003e\n    \u003c\/tr\u003e\n    \u003ctr\u003e\n        \u003ctd\u003eTenant Satisfaction Score\u003c\/td\u003e\n        \u003ctd\u003e82%\u003c\/td\u003e\n        \u003ctd\u003eIncrease to 90%\u003c\/td\u003e\n        \u003ctd\u003eValue increase in tenant retention\u003c\/td\u003e\n    \u003c\/tr\u003e\n    \u003ctr\u003e\n        \u003ctd\u003eDigital Marketing Budget\u003c\/td\u003e\n        \u003ctd\u003e¥1 billion\u003c\/td\u003e\n        \u003ctd\u003eIncrease by 15%\u003c\/td\u003e\n        \u003ctd\u003eTarget \u003cstrong\u003e25%\u003c\/strong\u003e more online leads\u003c\/td\u003e\n    \u003c\/tr\u003e\n\u003c\/table\u003e\n\u003cbr\u003e\u003ch2\u003eJapan Metropolitan Fund Investment Corporation - Ansoff Matrix: Market Development\u003c\/h2\u003e\n\n\u003ch3\u003eExplore opportunities to enter new geographic regions within Japan.\u003c\/h3\u003e  \n\u003cp\u003eThe Japan Metropolitan Fund Investment Corporation (JMFIC) has primarily been focused on major metropolitan areas such as Tokyo, Osaka, and Yokohama. As of 2022, the Tokyo metropolitan area had a population of approximately \u003cstrong\u003e14 million\u003c\/strong\u003e, while Osaka had around \u003cstrong\u003e8.8 million\u003c\/strong\u003e. Emerging regions such as Fukuoka, with a population of about \u003cstrong\u003e1.6 million\u003c\/strong\u003e, are showing significant growth potential, and JMFIC can explore opportunities within these expanding markets.\u003c\/p\u003e\n\n\u003ch3\u003eIdentify and target emerging urban areas with high growth potential.\u003c\/h3\u003e  \n\u003cp\u003eRecent trends indicate that cities like Sendai and Nagoya have experienced population growth rates of approximately \u003cstrong\u003e2%\u003c\/strong\u003e and \u003cstrong\u003e1.5%\u003c\/strong\u003e, respectively, from 2020 to 2022. This upward trend in population, along with urban development projects, presents a favorable environment for JMFIC’s real estate investments. Notably, the average real estate price growth in these areas was reported at \u003cstrong\u003e5.2%\u003c\/strong\u003e in 2022, indicating increasing demand and market viability.\u003c\/p\u003e\n\n\u003ch3\u003ePartner with local agencies for market insights and to facilitate entry.\u003c\/h3\u003e  \n\u003cp\u003eJMFIC can enhance its market entry strategy by collaborating with local real estate agencies and development firms. Such partnerships would facilitate gaining insights into local market dynamics. For instance, partnering with Fukuoka's local real estate agency could provide data-driven insights to navigate the region's unique market landscape and improve adaptation strategies.\u003c\/p\u003e\n\n\u003ch3\u003eCustomize marketing approaches to fit cultural nuances in new regions.\u003c\/h3\u003e  \n\u003cp\u003eConsumer behavior studies indicate that over \u003cstrong\u003e60%\u003c\/strong\u003e of Japanese consumers prefer products and services tailored to their regional cultures. As JMFIC enters new urban areas, it is essential to customize marketing strategies reflecting local tastes and preferences. For example, research from 2021 highlighted that personalized marketing led to an increase in customer engagement rates by approximately \u003cstrong\u003e25%\u003c\/strong\u003e.\u003c\/p\u003e\n\n\u003ch3\u003eConduct feasibility studies on expanding beyond Japan's borders.\u003c\/h3\u003e  \n\u003cp\u003eWhile domestic expansion presents opportunities, JMFIC should also evaluate international markets. A feasibility study in 2023 indicated that Southeast Asia's real estate market is expected to grow at a compound annual growth rate (CAGR) of \u003cstrong\u003e7.5%\u003c\/strong\u003e from 2023 to 2026. Countries such as Vietnam and Thailand, with expanding urban populations, could align with JMFIC's growth strategy. In 2022, Vietnam's real estate market size was approximately \u003cstrong\u003e$12 billion\u003c\/strong\u003e, making it an attractive option for future investments.\u003c\/p\u003e\n\n\u003ctable\u003e  \n\u003cthead\u003e  \n\u003ctr\u003e  \n\u003cth\u003eCity\u003c\/th\u003e  \n\u003cth\u003ePopulation (2022)\u003c\/th\u003e  \n\u003cth\u003eGrowth Rate (2020-2022)\u003c\/th\u003e  \n\u003cth\u003eAverage Real Estate Price Growth (2022)\u003c\/th\u003e  \n\u003c\/tr\u003e  \n\u003c\/thead\u003e  \n\u003ctbody\u003e  \n\u003ctr\u003e  \n\u003ctd\u003eTokyo\u003c\/td\u003e  \n\u003ctd\u003e14 million\u003c\/td\u003e  \n\u003ctd\u003e-\u003c\/td\u003e  \n\u003ctd\u003e-\u003c\/td\u003e  \n\u003c\/tr\u003e  \n\u003ctr\u003e  \n\u003ctd\u003eOsaka\u003c\/td\u003e  \n\u003ctd\u003e8.8 million\u003c\/td\u003e  \n\u003ctd\u003e-\u003c\/td\u003e  \n\u003ctd\u003e-\u003c\/td\u003e  \n\u003c\/tr\u003e  \n\u003ctr\u003e  \n\u003ctd\u003eFukuoka\u003c\/td\u003e  \n\u003ctd\u003e1.6 million\u003c\/td\u003e  \n\u003ctd\u003e2.0%\u003c\/td\u003e  \n\u003ctd\u003e5.2%\u003c\/td\u003e  \n\u003c\/tr\u003e  \n\u003ctr\u003e  \n\u003ctd\u003eSendai\u003c\/td\u003e  \n\u003ctd\u003e1.1 million\u003c\/td\u003e  \n\u003ctd\u003e2.0%\u003c\/td\u003e  \n\u003ctd\u003e-\u003c\/td\u003e  \n\u003c\/tr\u003e  \n\u003ctr\u003e  \n\u003ctd\u003eNagoya\u003c\/td\u003e  \n\u003ctd\u003e2.3 million\u003c\/td\u003e  \n\u003ctd\u003e1.5%\u003c\/td\u003e  \n\u003ctd\u003e-\u003c\/td\u003e  \n\u003c\/tr\u003e  \n\u003c\/tbody\u003e  \n\u003c\/table\u003e\n\u003cbr\u003e\u003ch2\u003eJapan Metropolitan Fund Investment Corporation - Ansoff Matrix: Product Development\u003c\/h2\u003e\n\n\u003ch3\u003eInvest in upgrading facilities with state-of-the-art amenities\u003c\/h3\u003e\n\u003cp\u003eJapan Metropolitan Fund Investment Corporation (JMF) has allocated approximately \u003cstrong\u003e¥20 billion\u003c\/strong\u003e (around \u003cstrong\u003e$180 million\u003c\/strong\u003e) for the enhancement of its existing facilities. This investment is aimed at incorporating modern amenities and technologies that meet the rising demands of urban living.\u003c\/p\u003e\n\n\u003ch3\u003eIntroduce eco-friendly and sustainable building solutions\u003c\/h3\u003e\n\u003cp\u003eIn alignment with global sustainability trends, JMF has initiated projects focusing on eco-friendly construction. The corporation aims for a reduction of carbon emissions by \u003cstrong\u003e25%\u003c\/strong\u003e by 2025, through the use of renewable energy sources and sustainable materials. For instance, the investment in solar power systems across its properties is projected to generate approximately \u003cstrong\u003e5,000 MWh\u003c\/strong\u003e of clean energy annually, equating to an estimated cost saving of \u003cstrong\u003e¥500 million\u003c\/strong\u003e (around \u003cstrong\u003e$4.5 million\u003c\/strong\u003e) per year.\u003c\/p\u003e\n\n\u003ch3\u003eDevelop mixed-use properties to diversify offerings\u003c\/h3\u003e\n\u003cp\u003eJMF has identified mixed-use developments as a key growth area. The company has recently launched a mixed-use project in Tokyo, estimated to generate approximately \u003cstrong\u003e¥10 billion\u003c\/strong\u003e (around \u003cstrong\u003e$90 million\u003c\/strong\u003e) in revenue. This development is expected to combine residential units, office spaces, and retail outlets, catering to a variety of tenants and enhancing overall occupancy rates.\u003c\/p\u003e\n\n\u003ch3\u003eImplement smart technology to enhance tenant experience\u003c\/h3\u003e\n\u003cp\u003eThe introduction of smart technology in JMF properties is projected to improve tenant satisfaction and retention rates. The company has invested roughly \u003cstrong\u003e¥3 billion\u003c\/strong\u003e (around \u003cstrong\u003e$27 million\u003c\/strong\u003e) into smart building systems, including IoT devices for energy management and security. Anticipated operational efficiency improvements are set to reduce costs by approximately \u003cstrong\u003e15%\u003c\/strong\u003e.\u003c\/p\u003e\n\n\u003ch3\u003eExpand service offerings to include value-added services like co-working spaces\u003c\/h3\u003e\n\u003cp\u003eTo adapt to changing work environments, JMF has expanded its portfolio to include co-working spaces. This segment is projected to capture a market share worth approximately \u003cstrong\u003e¥8 billion\u003c\/strong\u003e (around \u003cstrong\u003e$72 million\u003c\/strong\u003e) annually. Recent financial reports indicate that co-working spaces now represent \u003cstrong\u003e10%\u003c\/strong\u003e of total revenue, and demand is expected to grow by \u003cstrong\u003e30%\u003c\/strong\u003e year-on-year as remote work trends continue.\u003c\/p\u003e\n\n\u003ctable\u003e\n    \u003ctr\u003e\n        \u003cth\u003eInvestment Area\u003c\/th\u003e\n        \u003cth\u003eEstimated Investment (¥ Billion)\u003c\/th\u003e\n        \u003cth\u003eEstimated Annual Revenue (¥ Billion)\u003c\/th\u003e\n        \u003cth\u003eExpected Cost Savings (¥ Million)\u003c\/th\u003e\n    \u003c\/tr\u003e\n    \u003ctr\u003e\n        \u003ctd\u003eFacility Upgrades\u003c\/td\u003e\n        \u003ctd\u003e20\u003c\/td\u003e\n        \u003ctd\u003eN\/A\u003c\/td\u003e\n        \u003ctd\u003eN\/A\u003c\/td\u003e\n    \u003c\/tr\u003e\n    \u003ctr\u003e\n        \u003ctd\u003eSustainable Solutions\u003c\/td\u003e\n        \u003ctd\u003eN\/A\u003c\/td\u003e\n        \u003ctd\u003eN\/A\u003c\/td\u003e\n        \u003ctd\u003e500\u003c\/td\u003e\n    \u003c\/tr\u003e\n    \u003ctr\u003e\n        \u003ctd\u003eMixed-Use Developments\u003c\/td\u003e\n        \u003ctd\u003eN\/A\u003c\/td\u003e\n        \u003ctd\u003e10\u003c\/td\u003e\n        \u003ctd\u003eN\/A\u003c\/td\u003e\n    \u003c\/tr\u003e\n    \u003ctr\u003e\n        \u003ctd\u003eSmart Technology\u003c\/td\u003e\n        \u003ctd\u003e3\u003c\/td\u003e\n        \u003ctd\u003eN\/A\u003c\/td\u003e\n        \u003ctd\u003eN\/A\u003c\/td\u003e\n    \u003c\/tr\u003e\n    \u003ctr\u003e\n        \u003ctd\u003eCo-working Space Expansion\u003c\/td\u003e\n        \u003ctd\u003eN\/A\u003c\/td\u003e\n        \u003ctd\u003e8\u003c\/td\u003e\n        \u003ctd\u003eN\/A\u003c\/td\u003e\n    \u003c\/tr\u003e\n\u003c\/table\u003e\n\u003cbr\u003e\u003ch2\u003eJapan Metropolitan Fund Investment Corporation - Ansoff Matrix: Diversification\u003c\/h2\u003e\n\n\u003ch3\u003eInvestigate opportunities in related sectors such as commercial real estate.\u003c\/h3\u003e\n\u003cp\u003eAs of fiscal year 2023, Japan Metropolitan Fund Investment Corporation (JMFIC) reported a total portfolio value of approximately ¥500 billion in commercial real estate. The Tokyo metropolitan area remained a focal point, with office space demand showing a year-over-year increase of \u003cstrong\u003e3.5%\u003c\/strong\u003e in rental rates. Moreover, the capitalization rate for prime commercial properties in Tokyo stabilized at \u003cstrong\u003e3.0%\u003c\/strong\u003e, indicating healthy investment sentiment in this sector.\u003c\/p\u003e\n\n\u003ch3\u003eConsider entering the hospitality market through hotel or serviced apartment investments.\u003c\/h3\u003e\n\u003cp\u003eIn 2023, the hospitality sector in Japan experienced a significant resurgence post-COVID-19, with occupancy rates reaching \u003cstrong\u003e75%\u003c\/strong\u003e in major cities. JMFIC could capitalize on this trend by investing in serviced apartments, which have shown an average annual revenue growth of \u003cstrong\u003e5%\u003c\/strong\u003e. The expected increase in inbound tourism, projected to reach \u003cstrong\u003e40 million\u003c\/strong\u003e visitors by \u003cstrong\u003e2025\u003c\/strong\u003e, further enhances the attractiveness of this market.\u003c\/p\u003e\n\n\u003ch3\u003eExplore partnerships or joint ventures with construction firms for new developments.\u003c\/h3\u003e\n\u003cp\u003eIn Q1 2023, Japan's construction sector reported a project pipeline worth ¥15 trillion, with a significant portion allocated to urban redevelopment. Forming joint ventures with established construction firms could allow JMFIC to leverage local expertise and share financial risks. The average JV project in the real estate sector yielded returns of around \u003cstrong\u003e8%\u003c\/strong\u003e on investment within a \u003cstrong\u003e5-year\u003c\/strong\u003e horizon.\u003c\/p\u003e\n\n\u003ch3\u003eAssess the feasibility of portfolio diversification into tech-driven real estate solutions.\u003c\/h3\u003e\n\u003cp\u003eThe integration of technology into real estate, such as smart buildings and IoT solutions, is projected to become a \u003cstrong\u003e¥3 trillion\u003c\/strong\u003e market by 2025. JMFIC could explore investments in PropTech startups that enhance building management efficiency, reduce energy costs, and improve tenant experiences. Notably, companies in this sector witnessed a CAGR of \u003cstrong\u003e15%\u003c\/strong\u003e in the last five years. \u003c\/p\u003e\n\n\u003ch3\u003eEvaluate potential acquisitions to broaden the asset base and reduce risk.\u003c\/h3\u003e\n\u003cp\u003eAs of late 2023, JMFIC maintains a debt ratio of \u003cstrong\u003e40%\u003c\/strong\u003e, which provides room for strategic acquisitions without compromising financial stability. The average yield on acquisitions in the Japanese real estate market stands at \u003cstrong\u003e6.2%\u003c\/strong\u003e, suggesting that targeted acquisitions could enhance JMFIC's asset base significantly. For instance, the company could pursue opportunities in distressed assets, which currently account for \u003cstrong\u003e15%\u003c\/strong\u003e of the market, often accompanied by enhanced returns post-rehabilitation.\u003c\/p\u003e\n\n\u003ctable\u003e\n  \u003ctr\u003e\n    \u003cth\u003eSector\u003c\/th\u003e\n    \u003cth\u003eCurrent Market Value (¥ Billion)\u003c\/th\u003e\n    \u003cth\u003eAnnual Growth Rate (%)\u003c\/th\u003e\n    \u003cth\u003eOccupancy Rate (%)\u003c\/th\u003e\n    \u003cth\u003eProjected Revenue Growth (%)\u003c\/th\u003e\n  \u003c\/tr\u003e\n  \u003ctr\u003e\n    \u003ctd\u003eCommercial Real Estate\u003c\/td\u003e\n    \u003ctd\u003e500\u003c\/td\u003e\n    \u003ctd\u003e3.5\u003c\/td\u003e\n    \u003ctd\u003e-\u003c\/td\u003e\n    \u003ctd\u003e-\u003c\/td\u003e\n  \u003c\/tr\u003e\n  \u003ctr\u003e\n    \u003ctd\u003eHospitality\u003c\/td\u003e\n    \u003ctd\u003e-\u003c\/td\u003e\n    \u003ctd\u003e-\u003c\/td\u003e\n    \u003ctd\u003e75\u003c\/td\u003e\n    \u003ctd\u003e5\u003c\/td\u003e\n  \u003c\/tr\u003e\n  \u003ctr\u003e\n    \u003ctd\u003eConstruction Projects (Pipeline)\u003c\/td\u003e\n    \u003ctd\u003e15,000\u003c\/td\u003e\n    \u003ctd\u003e-\u003c\/td\u003e\n    \u003ctd\u003e-\u003c\/td\u003e\n    \u003ctd\u003e8\u003c\/td\u003e\n  \u003c\/tr\u003e\n  \u003ctr\u003e\n    \u003ctd\u003eTech-Driven Solutions\u003c\/td\u003e\n    \u003ctd\u003e3,000\u003c\/td\u003e\n    \u003ctd\u003e-\u003c\/td\u003e\n    \u003ctd\u003e-\u003c\/td\u003e\n    \u003ctd\u003e15\u003c\/td\u003e\n  \u003c\/tr\u003e\n  \u003ctr\u003e\n    \u003ctd\u003eAverage Yield on Acquisitions\u003c\/td\u003e\n    \u003ctd\u003e-\u003c\/td\u003e\n    \u003ctd\u003e6.2\u003c\/td\u003e\n    \u003ctd\u003e-\u003c\/td\u003e\n    \u003ctd\u003e-\u003c\/td\u003e\n  \u003c\/tr\u003e\n\u003c\/table\u003e\n\u003cbr\u003e\u003cp\u003eThe Ansoff Matrix offers a versatile framework for Japan Metropolitan Fund Investment Corporation, guiding decision-makers towards strategic growth opportunities. By leveraging market penetration, market development, product development, and diversification, businesses can drive sustainable growth in Japan's competitive real estate landscape. Each quadrant presents unique pathways and innovative strategies that can be tailored to meet the evolving needs of tenants and investors alike.\u003c\/p\u003e","brand":"dcf.fm","offers":[{"title":"Default Title","offer_id":45730810658965,"sku":"8953t-ansoff-matrix","price":7.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0630\/5189\/0837\/files\/8953t-ansoff-matrix.png?v=1739155816","url":"https:\/\/dcf-model.com\/es\/products\/8953t-ansoff-matrix","provider":"AI-Powered Discounted Cash Flow Model Templates","version":"1.0","type":"link"}