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HOME >> Investor Relations >> Message Archive (April 1, 2020)

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To Our Investors

FY2020 Greetings

Thank you for your continued support of Japan Tissue Engineering. Here we are in the new fiscal year 2020. We hope you will stay with us throughout this year as well.
We all began the year 2020 with great expectations of an Olympic year but have been blindsided by the novel corona virus. Large-scale confusion has ensued worldwide, ranging from public-health issues to expanding economic problems that threaten to surpass the 2008 financial crisis.

Looking back over the FY2019

Amidst these conditions, our company has continued to concentrate on making regenerative medicine industrially viable. First has been a clinical trial aiming to expand the indication of J-TEC Autologous Cultured Cartilage (JACC) to knee osteoarthritis. We have not received the indication for knee osteoarthritis that we initially envisioned for JACC. This has presented great hurdles in business, and we think that getting the indication expanded to include this condition from which many patients suffer will be indispensable to proceeding with business as planned. Elsewhere, we obtained marketing approval for autologous cultured corneal epithelium “Nepic” as initially planned. This is the 7th regenerative medical product in Japan to use cells, and for our company, it is the 3rd product. We are the only corporation to have 3 regenerative medical products, and we would like to maintain a solid lead in each of these fields while fulfilling our responsibility to deliver these products to the patients appropriately.
In FY2019, we made good progress while striking a balance between existing projects and growth strategy for many pipelines. The path forward has by no means been an easy one, and it was a year in which we confronted the difficulty of creating a new industry. Moreover, as the high cost not only of regenerative medicine but of advanced medical treatment in general has become a cause for concern, we have been devising ways of reducing the production cost for regenerative medical products. In particular, we believe JACC has become a model case for the provision of a product that uses the patient’s own cells.

Masataka Akiyama  Ken-ichiro Hata

Management policy for FY2020

The thing that our company should give the highest priority to this fiscal year is “gaining the trust of all of our stakeholders”. Last fiscal year we disappointed our shareholders and many others by revising our financial result forecasts.
The path we have traveled and that which we envision before us will take more time to traverse than we had imagined, but we will move forward step by step without compromise. This fiscal year we would like to become even stronger as the leading company in regenerative medicine, acting as the driving force in the industrialization of regenerative medicine both in name and reality. In FY2020 we would like to meet everyone’s expectations by clearly demonstrating our experience and business strategy at every opportunity.
Recently in the United State and Europe, there have been rising expectations for cancer treatment using CAR-T cells, apart from regenerative medicine. In Japan as well, related products have appeared on the market. We too have joined the stream by preparing to create new CAR-T cell therapies through joint research with Nagoya University. In the months ahead we would like to clarify our CAR-T cell therapy strategy, based on clinical results thus far.

To our shareholders

We deeply regret that we have not adequately met the expectations of all of our shareholders despite the fact that you have supported us for a truly long time. It will take time, but we are steadily proceeding to translate our plans into reality in the form of various medical therapies.
Please give us a little more time. We will do everything in our power to meet the expectations of our shareholders through innovations in medical treatment.
Please continue to support these efforts.

April 1, 2020
Japan Tissue Engineering Co., Ltd.

President & CEO Ken-ichiro Hata
Chairman & CEO
President & COO Masataka Akiyama
President & COO