Medirom Healthcare Technologies Inc Stock Price, News & Analysis

MEDIROM (NasdaqCM: MRM) has signed a Master Manufacturing Agreement with Sanei Electronics for the production of its MOTHER Tracker®, a pioneering smart bracelet that harnesses thermoelectric energy from the wearer's body heat, eliminating the need for separate charging. This partnership aims to enhance operational efficiency and product quality with Canon Electronics as a subcontractor. Despite initial plans for overseas production, the COVID-19 pandemic prompted a shift to local manufacturing in Japan. The MOTHER Tracker® features continuous monitoring of health metrics and aims to facilitate data integration with healthcare providers.

MEDIROM Healthcare Technologies Inc. (MRM) reported FY 2020 financial results with total revenue decreasing by 14.5% to $32.4 million, primarily due to COVID-19 lockdowns. The net loss stood at $5 million, with Adjusted EBITDA at -16.3%. SG&A expenses increased 22.6%impairment loss by 139.1%$13.8 million, aided by proceeds from the IPO.

MEDIROM Healthcare Technologies Inc. (Nasdaq CM:MRM) reported significant growth in its April 2021 Key Performance Indicators. The number of salons increased to 301 from 290 a year ago. Total customers served surged by 376% to 63,682 compared to 13,381 in April 2020, reflecting recovery from COVID-19. Sales per customer slightly decreased to JPY 6,250, influenced by promotional pricing for new salons. The repeat customer ratio dropped to 81.4%, while the operation ratio improved to 46.3%, up from 19.7% in the previous year.

MEDIROM Healthcare Technologies Inc. (NasdaqCM: MRM) announced its financial results for the year ended December 31, 2020, during a conference call held on May 17, 2021. The company operates 303 relaxation salons in Japan under the Re.Ra.Ku brand. In 2015, MEDIROM diversified into health-tech, launching the Lav app, and in 2020, it developed the MOTHER Tracker. The company aims to leverage data analysis from its extensive data collection since inception to enhance its healthcare services.

MEDIROM Healthcare Technologies Inc. (MRM) announced the acquisition of 100% ownership of SAWAN CO. LTD., operator of the luxury relaxation brand Ruam Ruam, from BOX GROUP. This acquisition, closing on May 6, 2021, will add ten salons to MEDIROM's existing network. Founder Kouji Eguchi stated that this move aligns with their strategy to enhance brand presence in Japan. The purchase will be financed using cash on hand and short-term liabilities, with no equity issued to the seller.

MEDIROM Healthcare Technologies (NasdaqCM: MRM) has filed a Form 12b-25 with the SEC to secure a 15-day extension for submitting its Annual Report on Form 20-F for the fiscal year ended December 31, 2020. The company cited challenges in compiling necessary information and completing its consolidated financial statements, necessitating additional time for preparation and review. MEDIROM operates 303 relaxation salons in Japan under the Re.Ra.Ku® brand and has expanded into health-tech and device businesses, including the MOTHER Tracker® smart tracker.

MEDIROM Healthcare Technologies Inc. (Nasdaq CM: MRM) reported its major Key Performance Indicators (KPIs) for March 2021, revealing significant business growth as it recovers from COVID-19 impacts. The number of salons increased to 303 from 288 a year earlier, with total customers served rising 19% to 62,441. Sales per customer slightly increased to JPY 6,352. However, the repeat customer ratio fell to 81.9% from 85.0%. The operation ratio improved to 47.0%, up from 38.9% year-over-year, reflecting a recovery in business operations.

MEDIROM Healthcare Technologies Inc. (Nasdaq CM: MRM) announced a partnership with ZACC Kabushiki-Kaisha to launch jointly operated hair and beauty salons in Japan and abroad. This collaboration aims to leverage MEDIROM's franchising expertise and human resource management programs to improve customer satisfaction and store profitability. ZACC, established in 1988, is well-regarded in the beauty sector with over 30 years of experience. The initiative is expected to expand both companies' market presence while enhancing operational efficiency.

MEDIROM Healthcare Technologies Inc. (Nasdaq: MRM) reported its February 2021 Key Performance Indicators. The company had 302 salons, a rise from 286 in February 2020. Total customers served decreased to 56,370, down 8% from the previous year, attributed to COVID-19 related shutdowns. Sales per customer increased by 3% to JPY 6,443. The repeat customer ratio fell slightly to 83.0%, while the operation ratio improved to 47.64% from 45.50% year-over-year. Despite challenges, the company continues to expand its health-tech initiatives and aims to commercialize new products by late 2021.