Medirom Healthcare Technologies Inc Stock Price, News & Analysis

MEDIROM Healthcare Technologies Inc. (NASDAQ: MRM) announced a stock repurchase plan under which COZY LLC, controlled by CEO Kouji Eguchi, may buy back up to JPY 50 million of the Company’s American Depositary Shares (ADSs). The Board approved the Plan on January 18, 2023, with purchases expected to occur between February 13, 2023 and March 31, 2023. Currently, Mr. Eguchi holds approximately 38.6% of the Company’s common shares, reflecting his confidence in MEDIROM’s fundamentals and growth potential. The stock repurchase will be funded personally by Mr. Eguchi, although there is no obligation for COZY to complete the purchases.

MEDIROM Healthcare Technologies Inc. (MRM) reported total revenue of approximately JPY6.5 billion (about $49.3 million) for the fiscal year ended December 31, 2022. This marks an increase of JPY1.1 billion ($8.3 million) compared to the previous year, fueled by strong contributions from newly acquired subsidiaries and rising sales at company-operated salons post-COVID-19. Operating income improved to JPY240 million ($1.8 million), reversing an operating loss from the prior year. Despite increased operating expenses of approximately JPY6.26 billion ($47.5 million), the company maintained its profitability. Management remains optimistic about continuing growth into 2023.

MEDIROM Healthcare Technologies Inc. (NasdaqCM: MRM) reported key performance indicators for September 2022. The total number of salons decreased to 312, down from 316 a year ago. However, total customers served increased to 71,770, up from 65,130, showing recovery from COVID-19. Sales per customer rose to JPY 6,505 from JPY 6,428. The repeat customer ratio decreased slightly to 80.8% from 82.0%. The operation ratio improved to 50.3% from 46.7%. The rise in sales and operational efficiency indicates positive business fundamentals amidst a slight decline in salon count.

Total Customers Served: 72,250 – Sales Per Customer: JPY 6,705 – Customer Repeat Ratio: 80.1%

On September 20, 2022, MEDIROM Healthcare Technologies Inc. (MRM) released key performance indicators for August 2022. The company reported a decrease in the number of salons from 315 to 311 year-over-year, while the total customers served increased by 8.4% to 72,250. Sales per customer rose to JPY 6,705, attributed to upselling. The repeat customer ratio fell to 80.1%, and the operational ratio improved to 49.8% due to adjusted staffing. The number of salons with data increased to 232 from 221.

MEDIROM Healthcare Technologies Inc. (NasdaqCM: MRM) reported its KPIs for July 2022, showcasing a 76,521 total customers served, an increase from 70,912 in July 2021. The sales per customer rose to JPY 6,668, up from JPY 6,498. However, the number of salons declined to 309 from 314 year-over-year. The operation ratio improved to 50.3%, while the repeat customer ratio slightly fell to 80.6%. These metrics reflect a recovery in operations post-COVID-19 but also highlight salon closures impacting overall service availability.

MEDIROM Healthcare Technologies Inc. (MRM) reported its June 2022 Key Performance Indicators (KPIs), highlighting a total of 73,259 customers served, up from 68,069 a year earlier. Despite a decline in the number of salons to 307 from 313, sales per customer increased to JPY 6,511 from JPY 6,350. The repeat customer ratio decreased slightly to 80.4% from 81.2%. The operation ratio improved to 50.3% from 48.6%, indicating better staffing efficiency.

MEDIROM Healthcare Technologies Inc. (Nasdaq: MRM) has received a notification from Nasdaq indicating that it does not meet the minimum market value requirement of $35 million, as per Nasdaq Listing Rule 5550(b)(2). This deficiency was noted due to the market value from May 9 to June 28, 2022, but does not currently affect its listing status. The company has until December 27, 2022, to regain compliance by maintaining a market value above $35 million for at least 10 consecutive business days. MEDIROM's business operations remain unaffected by this notification.

MEDIROM Healthcare Technologies Inc. (NasdaqCM: MRM) reported its May 2022 Key Performance Indicators (KPIs), revealing a total of 77,291 customers served, up from 66,604 a year ago, reflecting recovery from COVID-19. The sales per customer rose to JPY 6,461, up from JPY 6,370 due to increased upselling of services. However, the repeat ratio decreased to 79.6% from 80.6%. The company also noted an increase in the operation ratio to 50.1%.