CellSeed Inc. reported earnings results for the fiscal year of 2011. For the fiscal year 2011, the company recorded 28.6% year-over-year growth in sales to JPY 86 million, while recurring losses of JPY 1.358 billion were incurred. These figures were in line with the company's revised figures announced in December. Sales of both temperature responsive cell culture ware and products in overseas markets exceeded plans, while cell sheet regenerative medicine business was unable to realize any sales. The company provides earnings guidance for the fiscal year 2012. During fiscal year 2012, the company expects sales to rise by 138.0% year-over-year and to incur a recurring loss of JPY 1.520 billion. The company expects sales to rise from JPY 86 million to JPY 205 million due in part to lump sum payments from collaborative partners like Emmaus Medical for development of applications in overseas markets, which had been expected to be booked during fiscal year 2011.