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HOME >> Investor Relations >> Top Message >> Message Archive (October 28, 2011)

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To Our Investors - October 28, 2011 -

The first half of the business year ending March 31, 2012 has concluded. I would like to describe the business barometers that Japan Tissue Engineering (J-TEC) has established for itself for this business year.

Persevering through Teamwork

Persevering through TeamworkAt the start of the business year, I prepared J-TEC’s annual business plan, and communicated the annual business policy and business objectives to all employees. Preparing the business plan is an important job of mine, and I take the time to do it carefully. Actually, it is also a very difficult job. The process first involves analyzing the external environment and our internal environment. Then I set the main direction for the business year. This is the business policy. It in turn serves as the basis for our business objectives – numerical objectives for the year’s sales, operating budget and so on – and for the action plans in order to achieve those objectives.

For this year I established “persevering through teamwork” as the business policy. This policy contains two key words. One is “teamwork.” As a manufacturer, J-TEC possesses corresponding business functions. Moreover, our number of employees has exceeded 160. Inside the company, the so-called sectionalism and bureaucracy common at large corporations has come to be found here and there. But what is especially necessary when tackling difficult, complicated issues is “teamwork.”

The other key word is “persevering.” In the past, J-TEC has repeatedly made downward revisions of its forecasts. With that, it’s impossible to obtain the trust of stakeholders. In this period we also need to persevere and reach the goal of obtaining approval for our autologous cultured cartilage.

The autologous cultured epidermis, JACE, has gradually begun to penetrate the market. As a result, sales in the first half of the year exceeded expectations, and we have also been able to establish a pattern for persevering to achieve a goal. Building on that, we will conduct management so that, by persevering through teamwork to achieve our main business objectives, we will soon be able to become a fully fledged company.

The Reason for Continuing to Hire New College Graduates

Even in conditions where the economic environment is uncertain and deficits continue, J-TEC hires new college graduates as freshmen employees every year. Fifteen people entered the company this April. Seven more have been tentatively selected for next April. To launch not only the JACE business but also a business for autologous cultured cartilage, only the personnel in the R&D department are not enough to implement them; employees engaged in manufacturing, sales and other operations are also necessary. Moreover, personnel cannot be rapidly cultivated, and there is nobody outside the company who has experience in the commercial production and selling of regenerative medicine products. Therefore, J-TEC continues to hire new employees and to take the time to cultivate them. I think this is probably true of every company, but “a company is its people.”

Persevering through Teamwork

October 28, 2011
Yosuke Ozawa
President & CEO
Japan Tissue Engineering Co., Ltd.