Core Viewpoint - MEDIROM Healthcare Technologies Inc. has secured a new unsecured short-term bank loan of JPY350 million (approximately $2.4 million) to strengthen its financial position and support the development of its Mother Bracelet product [1][2]. Financial Summary - The loan amount is JPY350 million, with JPY200 million allocated for repaying debts of MEDIROM Mother Labs Inc., a subsidiary and guarantor of the loan [1]. - The remaining funds will be used for general working capital, including the development of the Mother Bracelet [1]. - The loan carries an interest rate of 1.875% per year [1]. Company Overview - MEDIROM operates 308 relaxation salons across Japan, with its leading brand being Re.Ra.Ku® [5]. - The company entered the health tech sector in 2015 and launched healthcare programs using an on-demand training app called "Lav®" [5]. - In 2020, MEDIROM developed a smart tracker named "MOTHER Bracelet®" and in 2023, it launched REMONY, a remote monitoring system for various industries [5]. - MEDIROM aims to leverage its diverse health-related products and services to collect and manage healthcare data, aspiring to become a leader in big data within the healthcare industry [5].
MEDIROM Healthcare Technologies Inc. Announces New JPY350 Million (Approximately $2.4 Million*) Unsecured Loan Financing