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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 Inc. (MRM) has reported its updated key performance indicators (KPIs) for November 2021. The company operates 316 salons, up from 291 a year earlier, primarily due to a recent acquisition. Customer traffic increased to 65,569 from 63,993 in the previous year, with sales per customer rising to JPY 6,466. The repeat customer ratio improved to 81.9%, while the operational ratio remained stable at 47.7%. These metrics indicate continued growth and customer loyalty, showcasing a positive trend in the company's performance.
MEDIROM Healthcare Technologies Inc. (Nasdaq: MRM) has reported its updated Key Performance Indicators (KPIs) for October 2021. The company operates 316 salons, a rise from 291 last year, mainly due to a recent acquisition. Total customers served increased to 68,608, while sales per customer rose to JPY 6,486. The repeat customer ratio improved to 83.3%, and the operation ratio increased slightly to 48.9%. These metrics reflect a recovery from COVID-19 disruptions and the company's effective upselling strategies.
MEDIROM Healthcare Technologies Inc. (MRM) reported a robust financial performance for the first half of 2021, with total revenue rising 57% to JPY2,127 million (US$19.1 million) due to recovery from COVID-19 impacts. Despite this growth, the company experienced a net loss of JPY521 million (US$4.6 million), attributed to increased costs in revenues and SG&A. The number of salons increased to 313, reflecting strategic acquisitions. The outlook remains positive as the company anticipates consistent demand in the relaxation salon sector and plans for further growth through M&A.
MEDIROM Healthcare Technologies (Nasdaq: MRM) has announced organizational changes to strengthen its business structure. The changes include the resignation of director Miki Aoki, who will serve as a director at subsidiary Bell Epoc Wellness. Bell Epoc Wellness will change its name to Wing Inc. and appoint new directors effective October 1, 2021, including Aoki as a director. Other subsidiaries, including Medirom Human Resources and JOYHANDS WELLNESS, will also appoint new directors. Bell Epoc Power Partners will change its name to Bell & Joy Power Partners Inc. starting November 1, 2021.
MEDIROM Healthcare Technologies Inc. (MRM) reported its Key Performance Indicators for September 2021. The company operates 316 salons, an increase from 284 a year earlier, largely due to recent acquisitions. Total customers served remained stable at 65,130, while sales per customer rose to JPY 6,428. The repeat customer ratio stood at 82.0%, consistent with previous year metrics. However, the operation ratio declined to 46.7% from 48.1%, indicating a decrease in operational efficiency.
MEDIROM Healthcare Technologies Inc. (Nasdaq: MRM) will present at the Benzinga Global Small Cap Conference on September 29, 2021, from 10:10am to 10:30am ET. Andrew Barwicki, Senior Vice President of Investor Relations, will lead the presentation, which will be available via live webcast for seven days post-event. MEDIROM operates 315 relaxation salons in Japan, including its flagship brand Re.Ra.Ku™, and has expanded into health tech and device development, including the Lav™ app and MOTHER Tracker™. More information can be found at medirom.co.jp/en.
MEDIROM Healthcare Technologies (MRM) announced its August 2021 Key Performance Indicators (KPIs). The number of salons rose to 315, up from 284 a year prior, due to an acquisition. Total customers served remained steady at 66,323, with sales per customer increasing to JPY 6,592. The repeat customer ratio held at 81.3%. However, the operation ratio declined to 46.5%, down from 47.5% in the previous year. The data reflects the company's ongoing growth and stability while highlighting areas needing improvement.
MEDIROM Healthcare Technologies Inc. (MRM) announced a share transfer agreement to acquire 100% of ZACC Kabushiki Kaisha, a luxury hair salon operator, for ¥370 million ($3.36 million). The acquisition will occur in two stages, with 60% of shares transferring on October 1, 2021, and the remaining shares on January 1, 2022. The strategy aims to enhance MEDIROM's portfolio by integrating high-end beauty services with its existing wellness offerings. This move represents MEDIROM's ongoing commitment to expanding its business in Japan.
MEDIROM Healthcare Technologies Inc. (Nasdaq CM: MRM) reported significant growth for July 2021. The company operates 314 salons, a rise from 288 in July 2020, thanks to brand acquisitions. Total customers served surged to 70,912, reflecting a 14.6% increase compared to the previous year, marking the highest monthly record. Sales per customer increased to JPY 6,498 from JPY 6,276. The repeat customer ratio held steady at 81.0%, while the operation ratio improved to 48.1% from 43.3% in July 2020, indicating a recovery from COVID-19 impacts.
MEDIROM Healthcare Technologies Inc. (Nasdaq CM: MRM) announced plans to release its interim financial results for the six months ending June 30, 2021, by the end of October 2021. As a foreign private issuer, MRM is not obligated to file quarterly reports but has been sharing monthly Key Performance Indicators (KPIs) since March 2021 to inform stakeholders about its business progress. The company operates 314 relaxation salons in Japan under the Re.Ra.Ku™ brand and has expanded into health tech and device sectors with initiatives like the MOTHER Tracker™.
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