Japan Tissue Engineering Co., Ltd. Reports Non-Consolidated Earnings Results for the Second Quarter Ended September 30, 2016; Provides Earnings Guidance for the Year Ending March 31, 2017
October 28, 2016 at 11:30 am EDT
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Japan Tissue Engineering Co., Ltd. reported non-consolidated earnings results for the second quarter ended September 30, 2016. For the quarter, the company reported net sales of ¥766 million against of ¥696 million a year ago. Operating loss was ¥161 million against ¥371 million a year ago. Ordinary loss was ¥162 million against ¥372 million a year ago. Net loss attributable to owners of parent was ¥164 million against ¥374 million a year ago. Net loss per share was ¥4.06 against ¥9.23 a year ago. Net cash used in operating activities was ¥53,886,000 against ¥85,982,000 a year ago. Payments for purchase of tangible fixed assets were ¥7,311,000 against ¥222,508,000 a year ago. Payments for purchase of intangible fixed assets were ¥15,782,000 compared to ¥5,266,000 a year ago. Loss before income taxes was ¥162,984,000 compared to ¥372,538,000 a year ago.
For the year ending March 31, 2017, the company expected to report net sales of ¥2,098 million, operating income of ¥11 million, ordinary income of ¥10 million, net income of ¥5 million and net income per share of ¥0.14.
Japan Tissue Engineering Co Ltd is a Japan-based company mainly engaged in regenerative medicine product business, regenerative medicine outsourcing business, and research and development support business. The Company operates through three segments. The Regenerative Medicine Product segment develops regenerative medicine products using tissue engineering, and manufactures and sells the products for medical institutions. The regenerative medicine products include autologous cultured epidermis JACE, and autologous cultured cartilage JACK. The Regenerative Medicine Outsourcing segment provides contract development and manufacturing organization (CDMO) services, contract research organization (CRO) services, consulting services, and contract manufacturing services for specific cell processed products. The Research and Development Support segment manufactures and sells human cultured tissues that apply advanced culture technology accumulated through the development of in-house products.
Japan Tissue Engineering Co., Ltd. Reports Non-Consolidated Earnings Results for the Second Quarter Ended September 30, 2016; Provides Earnings Guidance for the Year Ending March 31, 2017