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HOME >> Investor Relations >> Top Message >> Message Archive (October 28, 2010)

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To all of our investors - October 28, 2010 -

I would like to take this opportunity to share recent news related to Japan Tissue Engineering Co., Ltd. (J-TEC) with the company's investors and shareholders.

What Will and Won't Change Following the Tie-up with FUJIFILM

At the extraordinary shareholders' meeting held on October 28, issuance of new shares through third party allocation was approved. Accordingly, the largest shareholder in J-TEC changes from NIDEK Co., Ltd. to FUJIFILM Corporation, with FUJIFILM holding 41.30% of shares. The following points are agreed upon in the capital and business alliance with FUJIFILM:

Yosuke Ozawa, President and CEO
1. 50/50 partnership
While the sizes of the two companies differ, the relationship will in principle be equal, and both companies will make effective use of resources.
2. Management by J-TEC, monitoring by FUJIFILM
The current J-TEC management will actively continue to run the company. As shareholder, FUJIFILM will supervise.
3. Global development
The companies will aim for industrialization of regenerative medicine around the world, not just within Japan.

J-TEC needs to begin operating with greater speed than it has so far. Along with FUJIFILM, we expect opportunities for entering into new areas to increase. However, our company's key areas of interest will not change, we will carry out established business plans, and we will post profits as soon as possible.

We are most grateful to FUJIFILM for its understanding of our company's history and the current challenges it faces. As the economic environment in Japan remains uncertain and the world economy grows increasingly unstable, FUJIFILM's sizable investment of approximately four billion yen places our company on sound financial footing. FUJIFILM and J-TEC will collaborate toward the industrialization of regenerative medicine not just within Japan, but also around the world.

Operation Singapore

Establishment of J-TEC's first oversees office in the Republic of Singapore draws near. Registration is already complete, and interior work on the office is underway. We decided to rent a fairly spacious office. We owe much thanks to the Singapore government and Singapore Embassy for their assistance in our efforts to establish the office. We plan to open the office within the year.

Our company's primary base of operations is Japan, and business development in Japan will continue to be our top priority, but we believe that experience and achievements overseas, beginning in Singapore, are sure to benefit the development of regenerative medicine in Japan as well. Within the company, we call our overseas project Operation Singapore, and we are dedicated to its success.

Fifteen Extraordinaries

In early October, we performed a welcoming ceremony for the 15 students scheduled to enter the company in April next spring. These 15 individuals, rich in personality, gathered from all around the country. While today’s passive, easygoing, introverted students have a strong desire for stability and tend to aspire to large corporations, these 15 students, who approached a venture company like J-TEC and passed its strict recruitment exams, are all extraordinaries. (Note: At J-TEC, an extraordinary is defined as someone who changes the world.) Together with the extraordinaries who join our company next spring, J-TEC will speed up industrialization of regenerative medicine.

October 28, 2010
Yosuke Ozawa
President & CEO
Japan Tissue Engineering Co., Ltd.

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