Financial Highlight
Business Results
FY2011: Year ending March 31, 2012(In thousands yen)
| FY2005 | FY2006 | FY2007 | FY2008 | FY2009 | FY2010 | FY2011 Q3 |
|
|---|---|---|---|---|---|---|---|
| Net Sales | 68,872 | 103,365 | 111,752 | 114,724 | 211,659 | 351,574 | 332,472 |
| Gross Profit or Gross Loss (-) | -10,513 | -10,971 | 11,878 | 10,744 | 16,273 | -11,511 | 42,765 |
| Operating Loss (-) | -810,186 | -973,830 | -1,071,773 | -1,102,590 | -1,067,402 | -1,145,515 | -839,137 |
| Ordinary Loss (-) | -793,530 | -912,668 | -1,049,967 | -1,113,962 | -1,096,015 | -1,153,146 | -846,575 |
| Net Loss (-) | -690,648 | -916,441 | -1,086,238 | -1,133,985 | -1,099,917 | -1,156,986 | -849,425 |
| Equity in Earnings of Affiliates | - | - | - | - | - | - | - |
| Capital | 3,441,350 | 4,163,150 | 5,543,450 | 5,553,450 | 5,714,950 | 7,716,700 | 7,716,700 |
| Common Shares Issued (Stocks) | 68,827 | 76,045 | 101,051 | 101,251 | 107,301 | 182,821 | 182,821 |
| Net Assets | 1,330,952 | 1,858,111 | 3,532,472 | 2,418,487 | 1,641,569 | 4,488,083 | 3,638,657 |
| Total Assets | 2,356,883 | 3,874,356 | 4,327,250 | 3,453,340 | 3,197,783 | 5,831,953 | 4,819,249 |
| Net Assets per Share (yen) | 19,337.65 | 24,434.37 | 34,957.33 | 23,886.06 | 15,298.74 | 24,549.06 | - |
| Cash Dividends per Share (yen) | - (-) |
- (-) |
- (-) |
- (-) |
- (-) |
- (-) |
- (-) |
| Net Loss per Share (-)(yen) | -10,034.55 | -13,269.45 | -13,074.45 | -11,218.14 | -10,808.51 | -8,314.25 | -4,646.22 |
| Net Income per Share, Diluted (yen) | - | - | - | - | - | - | - |
| Equity Ratio (%) | 56.5 | 48.0 | 81.6 | 70.0 | 51.3 | 77.0 | 75.5 |
| Return On Equity (%) | - | - | - | - | - | - | - |
| Price Earnings Ratio (Times) | - | - | - | - | - | - | - |
| Payout Ratio (%) | - | - | - | - | - | - | - |
| Operating Cash Flow | -597,653 | -775,400 | -981,718 | -1,021,897 | -1,021,005 | -1,012,151 | - |
| Investing Cash Flow | 16,053 | 56,086 | -1,922,150 | 1,078,697 | 244,645 | -908,627 | - |
| Financing Cash Flow | -96,828 | 2,441,620 | 1,540,860 | 223,160 | 834,456 | 3,748,998 | - |
| Cash and Equivalents at End of Term | 317,043 | 2,039,278 | 676,314 | 956,286 | 1,014,377 | 2,842,573 | - |
| Number of Employees [Average Number of Temporary Employees] | 45 [1] | 56 [4] | 75 [10] | 86［9］ | 91［9］ | 106 [18] | - |
NOTE:
- Non-consolidated financial data only.
- Net Sales: Taxes not included.
- Equity in Earnings of Affiliates: No affiliate companies.
- Guidance applied for net assets calculation: Accounting Standard - ASBJ Statement No. 5, "Accounting Standard for Presentation of Net Assets in the Balance Sheet" and its Implementation Guidance - ASBJ Guidance No. 8, "Guidance on Accounting Standard for Presentation of Net Assets in the Balance Sheet".
- Diluted net income per share: No statement - we had net loss per share even though we had dilutive shares.
- Return on equity: No statement - J-TEC had a net loss.
- Price earnings ratio: No statement - until FY2006 J-TEC was a private company, for FY2007 and later J-TEC had a net loss.
- Number of employees: The numbers in square brackets [ ] are the yearly / quarterly average of temporary employees.
- Deloitte Touche Tohmatsu carried out the financial statement audit for FY2005-2006 in accordance with Article 193-2 of the Securities and Exchange Law, and the financial statement audit for FY2007 and later in accordance with Article 193-2-1 of the Financial Instruments and Exchange Law.
- Net Assets per Share, Operating/Investing/Financing Cash Flow*, Cash and Equivalents at End of Term*, and Number of Employeers for FY2011 and later: No quarterly statement due to the changes in the quarterly accounting standards. ( *Stated for Q2 and Q4. )
- Reasons for variations in business results:
FY2005: The company recorded ordinary loss and net loss due to increased personnel costs as a result of reinforcement of staff and increased utilities costs such as water, lighting and heating expenses, following the construction of the new office building in FY2004. These losses were recorded despite sales of LabCyte EPI-MODEL, a cultured human tissue for research use.
FY2006: The company recorded ordinary loss and net loss due to increased personnel costs as a result of reinforcement of staff, as well as an increase in R&D costs resulting from an increase in commissioned experiments. These losses were recorded despite the termination of commissioned experiments for the commissioned development of autologous cultured corneal epithelium and an increase in sales of LabCyte EPI-MODEL.
FY2007: The company recorded ordinary loss and net loss due to an increase in R&D investment for tissue-engineered medical products and incurring depreciation, despite a sales increase due to expanded sales of LabCyte EPI-MODEL.
FY2008: The company recorded ordinary loss and net loss due to increased R&D costs, despite the launch and sales of autologous cultured epidermis JACE, which was listed as an item covered by the National Health Insurance in January 2009.
FY2009: Due to an increase in personnel and R&D costs, ordinary loss and net loss were recorded, despite a sales increase as a result of enhanced sale of autologous cultured epidermis JACE.
FY2010: Despite a sales increase of autologous cultured epidermis JACE, the company recorded ordinary loss and net loss due to increased personnel costs as a result of reinforcement of sales and production staff and a increase in sales promotion costs of JACE.