It may seem that way, but this is the only way to accomplish it.

You mark X points (12) on the circle, and use each point as the starting coordinates for drawing your box-labels.

You rotate the box-labels based on the angle, so it points in a direction (3 o'clock would point west)

You shift the box-label in the opposite direction ( 3 o'clock shifts east), based on the width of a letter.

See ASCII analog clock, it uses a grid of boxes a character wide.