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MEDIROM Healthcare Technologies Inc. is a leading provider of health services, specializing in the operation and franchising of healthcare salons. The company operates in three primary segments: Relaxation Salon, Digital Preventative Healthcare, and Luxury Beauty. A significant majority of its revenue is generated from the Relaxation Salon business, which is highly popular in Japan.
MEDIROM Healthcare Technologies Inc. has served a total of 77,854 customers, with each customer bringing in an average sales revenue of JPY 7,190. The company boasts a strong customer repeat ratio of 77.9%, underscoring its commitment to quality service and customer satisfaction.
The company is also making strides in corporate development and expansion. Recently, MEDIROM announced the proposed non-binding terms and conditions in a Memorandum of Understanding (MOU) for an acquisition and a definitive agreement. This move aligns with the company's strategy for timely entry and closing of the agreement.
On the financial front, MEDIROM maintains a solid footing, bolstered by its strong customer base and high repeat ratio. The company is eyeing further growth and expansion opportunities, both within Japan and internationally.
In a significant corporate milestone, MEDIROM became the first Japanese company in 21 years to list on Nasdaq in December 2020. This move aims to increase global investor awareness and participation. To further this goal, MEDIROM will participate in the 'NASDAQ JAPAN IR EVENT' on June 20. The event will feature presentations and an after-party to engage with investors and media.
MEDIROM Healthcare Technologies Inc. continues to innovate and expand, driven by a dedication to enhancing healthcare services and maintaining a competitive edge in the market.
MEDIROM Healthcare Technologies (NASDAQ: MRM) released its November 2024 KPIs, showing mixed performance in its salon operations. Total customers served increased to 75,760 from 75,290 year-over-year, with sales per customer rising slightly to JPY 7,055 from JPY 7,045. The repeat ratio remained stable at 77.5%, while operation ratio improved to 44.6% from 43.9%.
In the Health Tech Business segment, the company's Lav® app, which provides health guidance programs, continued to expand. As of November 2024, MEDIROM has secured contracts with 95 corporate insurance associations, and the cumulative number of Lav® app users reached 8,515 individuals.
MEDIROM MOTHER Labs, a subsidiary of MEDIROM Healthcare Technologies (NASDAQ: MRM), has raised JPY260.3 million (approximately $1.7 million) in its ongoing Series A financing round at a pre-money valuation of JPY9 billion ($58.6 million). NFES Technologies leads the investment, joined by M3, Inc., Elematec , and other investors.
The company's flagship product, the MOTHER Bracelet®, has received orders for over 25,000 units through B2B channels between July and October 2024. This innovative fitness tracker generates electricity from body heat, requiring no charging, and monitors fitness levels, sleep patterns, pulse, and body temperature. The company is targeting markets including hospitals, nursing homes, and gyms.
MEDIROM Healthcare Technologies (NASDAQ: MRM) has closed its public offering of 2,860,000 American Depositary Shares at $1.75 per share, raising approximately $5 million in gross proceeds before deducting underwriting discounts and expenses. The company granted underwriters a 45-day option to purchase up to 429,000 additional shares for over-allotments. ThinkEquity serves as the sole book-running manager for the offering.
The company, which operates over 300 wellness salons across Japan, plans to use the proceeds for working capital and general corporate purposes, including potential investments, acquisitions, strategic collaborations to expand its customer base, and marketing of new services.
MEDIROM Healthcare Technologies Inc. (NASDAQ: MRM) announced that two senior executives of its subsidiary MEDIROM MOTHER Labs have invested in Mother Labs' Series A financing. The investment was made at a pre-money valuation of JPY9 billion (approximately USD $59,000,000) as of December 1, 2024.
The investing executives are Issei Homan, Chief Technology Officer, and Yasuhiro Hayami, Chief Business Officer of Mother Labs. Both executives share MEDIROM's corporate philosophy, vision, and commitment to future growth potential. Homan brings experience from founding Aratana Inc. and working with ZOZOUSED Inc., while Hayami's background includes founding INIT Co., and executive roles at transcosmos inc.
MEDIROM Healthcare Technologies (NASDAQ: MRM) has announced the pricing of a public offering of 2,860,000 American Depositary Shares at $1.75 per share, aiming to raise approximately $5 million in gross proceeds before deducting underwriting discounts and expenses. The company has granted underwriters a 45-day option to purchase up to an additional 429,000 shares to cover over-allotments.
The offering is expected to close on December 11, 2024. MEDIROM plans to use the proceeds for working capital and general corporate purposes, including potential investments, acquisitions, strategic collaborations to expand its customer base, and marketing of new services. ThinkEquity is serving as the sole book-running manager for the offering.
MEDIROM Healthcare Technologies (NASDAQ: MRM) has received orders for over 25,000 MOTHER Bracelet units through its subsidiary MEDIROM MOTHER Labs Inc. These orders include purchases from Japanese companies, notably NFES Technologies and two other major Tokyo Stock Exchange-listed companies.
MEDIROM operates over 300 wellness salons across Japan under the Re.Ra.Ku® brand. The company expanded into health tech in 2015 with the Lav® training app and entered the device business in 2020 with the MOTHER Bracelet®. In 2023, they launched REMONY, a remote monitoring system that has attracted orders from various industries including nursing care, transportation, construction, and manufacturing.
MEDIROM Healthcare Technologies (NASDAQ: MRM) announces that its subsidiary MEDIROM MOTHER Labs has secured orders for over 25,000 MOTHER Bracelet units, including orders from Japanese companies like NFES Technologies and two other major Tokyo Stock Exchange-listed companies. This order volume exceeds all previous orders received and fulfilled to date.
MEDIROM operates over 300 wellness salons across Japan under the Re.Ra.Ku® brand. The company expanded into health tech in 2015 with the Lav® on-demand training app, and in 2020 developed the MOTHER Bracelet smart tracker. In 2023, they launched REMONY, a remote monitoring system for corporate clients, serving various industries including nursing care, transportation, construction, and manufacturing.
MEDIROM Healthcare Technologies (NASDAQ: MRM) has announced that M3, Inc. (TOKYO PRIME: 2413) or its affiliate will participate in the Series A equity financing round of its subsidiary, MEDIROM MOTHER Labs Inc. The financing round is led by NFES Technologies Inc. at a pre-money valuation of JPY9 billion (approximately USD $59,000,000 as of December 1, 2024).
MEDIROM Healthcare Technologies (NASDAQ: MRM) has announced that M3, Inc. (TOKYO PRIME: 2413) or its affiliate will participate in the Series A equity financing round of its subsidiary, MEDIROM MOTHER Labs Inc. The financing round is led by NFES Technologies Inc. at a pre-money valuation of JPY9 billion (approximately USD $59,000,000 as of December 1, 2024).
MEDIROM Healthcare Technologies (NASDAQ: MRM) has announced a strategic business alliance with SBC Medical Group Holdings. The partnership combines MEDIROM's Re.Ra.Ku wellness salon, which primarily serves male customers, with SBC's Shonan Beauty Clinic, which focuses on women in their 20s and 30s. Together, the companies have over 4 million loyalty program members.
The alliance aims to create integrated opportunities for their respective customer bases, with plans to distribute special invitation tickets across their locations. MEDIROM operates over 300 wellness salons across Japan, while SBC Medical provides management services to 224 franchisees worldwide, including locations in Vietnam and California.
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