Company Overview - MEDIROM Healthcare Technologies Inc. is involved in health-tech and has announced participation from M3, Inc. in its Series A equity financing round for its subsidiary, MEDIROM MOTHER Labs Inc. [1] - The Series A financing round is led by NFES Technologies Inc. with a pre-money valuation of JPY 9 billion [1] MOTHER Labs and Product Offering - MEDIROM MOTHER Labs focuses on health-tech, offering the "Specific Health Guidance Program" through the "Lav" health application and developing the 24/7 recharge-free MOTHER Bracelet smart tracker [5] - The MOTHER Bracelet is notable for being the world's first 24/7 recharge-free smart tracker, utilizing innovative technology to generate power from temperature differences [7] - The device records five basic health metrics: heart rate, calories burned, body surface temperature, step count, and sleep [7] M3, Inc. Background - M3, Inc. operates a global physician platform and is recognized for its significant member panel, which includes over 330,000 Japanese and more than 6.5 million global physicians [4]

TOKYO, Oct. 07, 2024 (GLOBE NEWSWIRE) -- MEDIROM Healthcare Technologies Inc. (NASDAQ: MRM) ("Medirom" or the "Company") is pleased to announce that it is capitalizing on its extensive experience operating wellness clinics and healthcare technology to expand into the rehabilitation industry. In doing so, MEDIROM established a wholly-owned subsidiary, MEDIROM Rehab Solutions Inc., which acquired all of the rehabilitation centers of Y's, Inc. Prior to the acquisition by MEDIROM Rehab Solutions Inc., Y's, Inc. ...

TOKYO, Aug. 23, 2024 (GLOBE NEWSWIRE) -- MEDIROM Healthcare Technologies Inc. (Headquarters: Minato-ku, Tokyo; CEO: Koji Eguchi; listed on Nasdaq, NASDAQ: MRM; hereinafter "MEDIROM") announces that its subsidiary MEDIROM MOTHER Labs Inc. (Headquarters: Minato-ku, Tokyo; CEO: Yoshio Uekusa; hereinafter "MOTHER Labs"), has formed a capital and business alliance with NFES Technologies Inc. (Headquarters: Matsue City, Shimane Prefecture; CEO: Keita Adachi; hereinafter "NFES Group"), a subsidiary of NFES Inc. (H ...

TOKYO, July 22, 2024 (GLOBE NEWSWIRE) -- MEDIROM Healthcare Technologies Inc. ("we", "our", "us" or "the Company") hereby announces that its subsidiary MEDIROM Rehab Solutions Inc. entered into an agreement to purchase a rehabilitation business from Y's, Inc., a Japanese corporation, as of July 10, 2024. Y`s, Inc. operates 10 rehabilitation facilities around Tokyo for survivors of cerebral infarction, a type of stroke, and the company does business with major private, public and university hospitals in Japa ...

TOKYO, July 22, 2024 (GLOBE NEWSWIRE) -- MEDIROM Healthcare Technologies Inc. ("we", "our", "us" or "the Company") hereby announces that its subsidiary MEDIROM Rehab Solutions Inc. entered into an agreement to purchase a rehabilitation business from Y's, Inc., a Japanese corporation, as of July 10, 2024. Y`s, Inc. operates 10 rehabilitation facilities around Tokyo for survivors of cerebral infarction, a type of stroke, and the company does business with major private, public and university hospitals in Japa ...

NEW YORK, July 10, 2024 (GLOBE NEWSWIRE) -- MEDIROM Healthcare Technologies Inc. ("we", "our", "us" or "the Company") hereby announces that the Company plans to acquire a majority of Japan Gene Medicine Corporation (the "Target Company"). On June 30, 2024, the Company entered into a share transfer agreement (the "Share Transfer Agreement") to acquire 70.0% of the shares of the Target Company from an individual shareholder. The Company has also entered into a legally binding memorandum of understanding (the ...

TOKYO, July 01, 2024 (GLOBE NEWSWIRE) -- MEDIROM Healthcare Technologies Inc. (NASDAQ:MRM) ("Medirom" or the "Company"), a holistic healthcare company based in Japan, announced that on June 20th the Company was one of four Nasdaq listed Japanese companies that presented at the NASDAQ JAPAN IR EVENT 2024 at Nasdaq's U.S. headquarters. The Nasdaq event aimed to increase the presence of Japanese companies in the U.S. Four Japanese companies listed on Nasdaq presented to over 120 investors and media. Joseph Bra ...

Core Viewpoint - Medirom Healthcare Technologies Inc. reported net profit and positive adjusted EBITDA for two consecutive years, driven by the profitability of wellness salons, sales of 30 salons, and growth in its digital wellness app, Lav [1][9]. Financial Performance - Adjusted EBITDA for 2023 was JPY 306,324 thousand (US$ 2,173 thousand), a decrease from JPY 380,464 thousand (US$ 2,700 thousand) in 2022, resulting in an adjusted EBITDA margin decline from 5.5% to 4.5% [3][9]. - Consolidated net income for 2023 was JPY 115,049 thousand (US$ 817 thousand), or 1.6% of total revenue, compared to JPY 148,945 thousand (US$ 1,057 thousand), or 2.1% of total revenue in 2022 [9][18]. Revenue Breakdown - Total revenue for 2023 was JPY 6,827,943 thousand (US$ 48,453 thousand), a decrease of JPY 126,114 thousand (US$ 895 thousand) from JPY 6,954,057 thousand (US$ 49,348 thousand) in 2022 [18]. - Revenue from the Relaxation Salon Segment increased to JPY 6,059,851 thousand (US$ 43,002 thousand) in 2023 from JPY 5,972,913 thousand (US$ 42,385 thousand) in 2022, primarily due to increased sales per customer [4][18]. - Revenue from the Digital Preventative Healthcare Segment decreased by JPY 185,986 thousand (US$ 1,320 thousand) to JPY 200,397 thousand (US$ 1,422 thousand) in 2023, attributed to delays in product development [4][18]. Cost Structure - Cost of revenues increased to JPY 5,259,075 thousand (US$ 37,320 thousand) in 2023 from JPY 5,051,600 thousand (US$ 35,847 thousand) in 2022, with the cost of revenues as a percentage of total revenues rising from 72.6% to 77.0% [5][18]. - Selling, general, and administrative expenses rose to JPY 1,960,447 thousand (US$ 13,911 thousand) in 2023 from JPY 1,805,490 thousand (US$ 12,812 thousand) in 2022, increasing as a percentage of total revenues from 26.0% to 28.7% [6][18]. Interest and Tax Expenses - Interest expense increased significantly from JPY 9,800 thousand (US$ 70 thousand) in 2022 to JPY 36,868 thousand (US$ 262 thousand) in 2023, primarily due to the full-year recognition of interest on convertible bonds issued [7][18]. - The income tax benefit for 2023 was JPY 94,427 thousand (US$ 670 thousand), compared to an income tax expense of JPY 30,809 thousand (US$ 219 thousand) in 2022, reflecting a reorganization that allowed for better utilization of loss carryforwards [8][18]. Business Development - The company launched full-scale operations of the REMONY Monitoring System in 2023 and is focused on expanding B2B sales through health data management platforms [1][4]. - Medirom operates 307 relaxation salons across Japan and has diversified into health tech with products like the MOTHER Bracelet and the Lav app, aiming to lead in healthcare data management [25].

| --- | --- | --- | --- | |------------------------------------------------------------------------------------|----------|-------------------------|-------------| | | | | | | Reconciliation of non-GAAP measures: | | Year ended December 31, | | | (in thousands, except Adjusted EBITDA margin) | 2023($) | 2023(¥) | 2022(¥) | | Net income (loss) | $ 816 | ¥ 115,049 | ¥ 148,965 | | Dividend income and interest income | (8 ) | (1,113 ) | (6,074 ) | | Interest expense | 262 | 36,868 | 9,800 | | Income tax expense ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE AC ...