Nano Carrier IR report 2017

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op Message ▶T　FY2016 was a hard year in general for clinical development projects including the basic technologies for drug discovery of domestic bio-ventures and US bio-venture development of nanoparticle pharmaceuticals. However, we continue to explore various possibilities with faith, aiming to reach our goal of commercializing micellar nanoparticle technology as pharmaceuticals.　We believe that the scal year ending March 2018 will be a turning point for us as a company. That is, we are moving up from the stage focusing on R&D activities to the stage of commercialization and marketing. To strengthen our function as a pharmaceuti-cal manufacturer, the entire company structure will be under the direct control of the CEO. We have strengthened the foundations for the manufacturing and marketing of pharmaceuticals and for the management of applications for new drug approval by establishing a Research and Development Division that merges the Research Division, the Clinical Development Division, and the Research Support Division, and by establish-ing the new Product Reliability Assurance Division and the Regulatory Aairs Division. In the Research and Development Division, we have moved to an organization set up more in the pursuit of results by introducing new systems for project teams and experts. Through this new exible and dynamic structure that increases R&D output (in terms of quality and speed) and forms a globally competitive drug discovery group, we will take actions aimed at more rapid development and approvals.　Along with broadening the range of applications of our technology such as by approaches to new technology, we are also consolidating our operating base through such as expanding our cosmetics business. This year as well, we will be advancing steadily step by step as a pharmaceutical company that can expand globally.In the scal year ending March 31, 2018, we will make steady progress in our clinical development program, further stimulate R&D, and solidify our operating base. We are also taking steps to strengthen our organiza-tional structure as a pharmaceutical business in order to obtain regulatory approvalfor the products we develop.Ichiro Nakatomi, Ph.D., President & CEO2We are moving forward with clinical development for faster commercialization of our pipeline in order to grow even faster as a pharmaceutical company.