MEDIROM Healthcare Technologies Inc. American Depositary Share - MRM STOCK NEWS

MEDIROM Healthcare Technologies Inc. (NasdaqCM: MRM) released its April 2022 key performance indicators, showing significant growth in operational metrics. Total customers served reached 69,986, up from 63,682 a year prior, while sales per customer increased to JPY 6,616 from JPY 6,250. The repeat customer ratio improved to 82.0%, and the operation ratio rose to 48.3%. The total number of salons grew to 309 from 301 in the same period, reflecting positive business expansion and recovery from COVID-19 impacts.

MEDIROM Healthcare Technologies Inc. (NasdaqCM: MRM) announced on May 17, 2022, that it failed to timely file its Annual Report on Form 20-F, leading to a notice from Nasdaq regarding non-compliance with listing rules. The company has 60 days to submit a compliance plan and intends to file the Form 20-F within this period. The Nasdaq notice does not affect the trading of its American Depositary Shares. MEDIROM operates 310 relaxation salons and is expanding its healthcare services and tech offerings, including a smart tracker under development.

MEDIROM Healthcare Technologies (NasdaqCM: MRM) achieved a 62% revenue growth in fiscal 2021, totaling JPY 5,418 million, primarily driven by an increase in directly-operated salons. Total gross profit reached JPY 1,432 million with a gross margin of 26.4%, up from 12.8% in 2020. Despite improvements, the company faced an operating loss of JPY 448 million and a net loss of JPY 942 million. The results are preliminary and subject to audit, with management expressing optimism for continued growth in 2022.

MEDIROM Healthcare Technologies has regained compliance with Nasdaq's minimum market value requirement, as announced on April 22, 2022. Following a prior notification on January 18, 2022, the company maintained a market value of over $35 million for 10 consecutive business days, successfully meeting Nasdaq Listing Rule 5550(b)(2). MEDIROM operates 310 relaxation salons in Japan and has diversified into health tech with its Lav® training app and MOTHER Bracelet™ smart tracker. The company aims to lead in healthcare data management.

MEDIROM Healthcare Technologies Inc. (NasdaqCM: MRM) reported its Key Performance Indicators for March 2022, highlighting a total of 61,417 customers served, down from 62,441 a year ago. The sales per customer increased to JPY 6,595, attributed to upselling value-added services. The repeat customer ratio improved to 82.4%, while the operation ratio decreased to 46.5%. The number of salons rose to 310, up from 303, reflecting strategic acquisitions, despite challenges posed by the Omicron variant.

MEDIROM Healthcare Technologies Inc. (Nasdaq CM: MRM) released its updated Key Performance Indicators for February 2022. The number of salons increased to 310 from 302 year-over-year, despite two closures in the past month. Total customers served fell to 54,443, down from 56,370, mainly due to the Omicron variant. On a positive note, sales per customer rose to JPY 6,662, up from JPY 6,443, and the repeat customer ratio improved slightly to 83.8%. However, the operational ratio decreased to 46.4% from 47.6%, reflecting challenges in customer traffic during this period.

MEDIROM Healthcare Technologies Inc. (MRM) reported key performance indicators for December 2021. The company operated 312 salons, an increase from 290 YoY, bolstered by a brand acquisition. Customer visits rose to 71,173 from 64,649, attributed to seasonal factors and economic recovery post-COVID. Sales per customer improved to JPY 6,634, while the repeat customer ratio fell to 81.7%. Notably, the operational ratio increased to 50.5%. This data illustrates the company's growth amidst challenges, particularly in customer retention.

MEDIROM Healthcare Technologies Inc. (MRM) has received a Notification Letter from Nasdaq, indicating non-compliance with the minimum market value of $35 million as per Nasdaq Listing Rules. The company has 180 days to regain compliance, needing to exceed the $35 million threshold for at least 10 consecutive business days. Despite this issue, MEDIROM's business operations remain unaffected, and its American Depositary Shares will continue to be traded on Nasdaq during this compliance period.

MEDIROM Healthcare Technologies (MRM) has signed a Memorandum of Understanding with Juju Holdings to develop a centralized management system utilizing the MOTHER Bracelet™ for nursing care facilities in Japan. The MOTHER Bracelet™, powered by thermoelectric energy from body heat, tracks vital health data without the need for charging. The partnership aims to enhance monitoring of residents' health and facilitate broader acceptance of the device in the nursing care industry. Juju Holdings will also market the system to other facilities once developed.