MEDIROM Healthcare Technologies Inc. Files Form 12b-25

Rhea-AI Summary

MEDIROM Healthcare Technologies (NasdaqCM: MRM) has filed a Form 12b-25 with the SEC to secure a 15-day extension for submitting its Annual Report on Form 20-F for the fiscal year ended December 31, 2020. The company cited challenges in compiling necessary information and completing its consolidated financial statements, necessitating additional time for preparation and review. MEDIROM operates 303 relaxation salons in Japan under the Re.Ra.Ku® brand and has expanded into health-tech and device businesses, including the MOTHER Tracker® smart tracker.

Positive

• MEDIROM operates 303 relaxation salons in Japan, indicating a strong market presence.
• Expansion into health-tech and device businesses may enhance growth opportunities.

Negative

• The necessity for a filing extension suggests potential internal issues or delays in financial reporting.

NEW YORK, April 30, 2021 (GLOBE NEWSWIRE) -- MEDIROM Healthcare Technologies Inc. (NasdaqCM: MRM, “MEDIROM”), a leading holistic health services provider in Japan, today announced that it has filed a Form 12b-25 with the U.S. Securities and Exchange Commission, providing the Company a 15-day extension of the due date for filing its Annual Report on Form 20-F for the year ended December 31, 2020 (the “Form 20-F”).

The Company has been unable to file its Annual Report on the Form 20-F within the prescribed time period without unreasonable effort and expense. The Company is still in process of compiling certain required information to complete the Form 20-F. As a result, the Company requires additional time to prepare and review its consolidated financial statements and other disclosures in the Form 20-F. The Company plans to file its Form 20-F promptly within the extension period of 15 calendar days.

About MEDIROM Healthcare Technologies Inc.

MEDIROM operates 303 (as of March 31, 2021) relaxation salons across Japan, Re.Ra.Ku^®, being its leading brand, and provides healthcare services. In 2015, MEDIROM entered the health-tech business, and launched new healthcare programs using on-demand training app called "Lav^®", which is developed by the company. MEDIROM also entered the device business in 2020 and is developing a smart tracker "MOTHER Tracker^®". MEDIROM plans to expand the scope of its business to include data analysis utilizing the data it has collected since formation of the company.

URL ： https://medirom.co.jp/en

Contacts:
Investor Relations Team
ir@medirom.co.jp

FAQ

What is the reason for MEDIROM's filing extension on Form 20-F?

MEDIROM required additional time to compile necessary financial information and prepare its consolidated financial statements.

When is the new deadline for MEDIROM to file its Annual Report?

The new deadline for filing the Annual Report on Form 20-F is 15 days from the original due date.

How many wellness salons does MEDIROM operate in Japan?

MEDIROM operates 303 wellness salons as of March 31, 2021.

What businesses has MEDIROM expanded into?

MEDIROM has expanded into health-tech with its Lav® app and the device business with the MOTHER Tracker®.