MEDIROM Healthcare Technologies Inc. (NASDAQ: MRM) announces that
its subsidiary MEDIROM MOTHER Labs Inc. has formed a capital and
business alliance with Elematec Corporation (TOKYO PRIME: 2715), a
member of the Toyota Tsusho Corporation group. Under the capital
and business alliance agreement, Elematec Corporation has agreed to
make a strategic investment in MEDIROM MOTHER Labs’ Series A round
at a pre-money valuation of 9 billion yen (approximately
US$60,000,000, calculated at an exchange rate of JPY150 to US$1).
Elematec is an electronics trading company with over 70
locations in Japan and abroad. The Company provides commercial
products in various fields, including the latest electronic
products such as smartphones, tablets, home appliances,
automobiles, OA equipment, and industrial equipment.
“We anticipate the capital and business alliance will produce
strong synergies with Elematec's parts procurement and
manufacturing services and allow us to leverage its vast network of
business partners to provide an additional distribution channel for
MEDIROM’s MOTHER Bracelet,” said Yoshio Uekusa, CEO, MEDIROM MOTHER
Labs.
With demand from Elematec’s customers for new and feature-rich
personal electronics, the MOTHER Bracelet offers appealing advanced
features that enable customers to monitor their health 24 hours a
day, 365 days a year without the need for recharging and allowing
for uninterrupted continuous monitoring.
About Elematec Corporation
Elematec Corporation is an electronics trading company created
in 2009 through the integration of Takachiho Electric Co., Ltd. and
Onishi Denki Co., Ltd. Since the establishment of Takachiho
Electric in 1947, the company has continued to grow while wielding
flexibility and speed to earn the trust of customers in the
fast-evolving electronics industry. As a partner in manufacturing,
the company aligns itself with customers from the starting line of
product development and works together with them to realize
one-stop solutions by being involved from the planning and
development, all the way through design, prototyping, and mass
production stages. Through the company’s industry-leading network
in Japan and overseas, it delivers products from electronic
materials, parts and module products to finished products, on a
global scale. Elematec Corporation is a member of the Toyota Tsusho
Corporation group, with Toyota Tsusho Corporation being the sole
general trading company of the Toyota Group.
Web: https://www.elematec.com/en/
About MEDIROM MOTHER Labs Inc.
A subsidiary of MEDIROM Healthcare Technologies Inc. (NASDAQ:
MRM) (“MEDIROM”), MEDIROM MOTHER Labs Inc. (“MOTHER Labs”) focuses
on the health-tech sector. The company’s core activities include
the "Specific Health Guidance Program" offered through the "Lav"
health application and development and sales of the 24/7
recharge-free MOTHER Bracelet®︎ smart tracker. By leveraging the
features of the recharge-free MOTHER Bracelet®︎, MOTHER Labs offers
customizable health management solutions across diverse sectors,
including caregiving, logistics, manufacturing, etc.
For more information visit: https://mother-bracelet.com
MEDIROM Healthcare Technologies Inc.NASDAQ Symbol: MRMTradepia
Odaiba, 2-3-1 Daiba, Minato-ku, Tokyo, JapanWeb
https://medirom.co.jp/enContact: ir@medirom.co.jp
MEDIROM MOTHER Labs Inc.Tradepia Odaiba, 2-3-1 Daiba, Minato-ku,
Tokyo, Japan
Forward-Looking Statements Regarding MEDIROM Healthcare
Technologies Inc. and MEDIROM MOTHER Labs Inc.
Certain statements in this press release are forward-looking
statements for purposes of the safe harbor provisions under the
U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements may include estimates or expectations
about MEDIROM’s possible or assumed operational results, financial
condition, business strategies and plans, market opportunities,
competitive position, industry environment, and potential growth
opportunities. In some cases, forward-looking statements can be
identified by terms such as “may,” “will,” “should,” “design,”
“target,” “aim,” “hope,” “expect,” “could,” “intend,” “plan,”
“anticipate,” “estimate,” “believe,” “continue,” “predict,”
“project,” “potential,” “goal,” or other words that convey the
uncertainty of future events or outcomes. These statements relate
to future events or to MEDIROM’s future financial performance, and
involve known and unknown risks, uncertainties and other factors
that may cause MEDIROM’s actual results, levels of activity,
performance, or achievements to be different from any future
results, levels of activity, performance or achievements expressed
or implied by these forward-looking statements. You should not
place undue reliance on forward-looking statements because they
involve known and unknown risks, uncertainties and other factors
which are, in some cases, beyond MEDIROM’s control and which could,
and likely will, affect actual results, levels of activity,
performance or achievements. Any forward-looking statement reflects
MEDIROM’s current views with respect to future events and is
subject to these and other risks, uncertainties and assumptions
relating to MEDIROM’s operations, results of operations, growth
strategy and liquidity. Some of the factors that could cause actual
results to differ materially from those expressed or implied by the
forward-looking statements in this press release include:
- MEDIROM’s ability to achieve its development goals for its
business and execute and evolve its growth strategies, priorities
and initiatives;
- MEDIROM’s and Elematec Corporation’s ability to collaborate in
the anticipated manner;
- changes in Japanese and global economic conditions and
financial markets, including their effects on MEDIROM’s expansion
in Japan and certain overseas markets;
- MEDIROM’s ability to achieve and sustain profitability in its
Digital Preventative Healthcare Segment;
- the fluctuation of foreign exchange rates, which affects
MEDIROM’s expenses and liabilities payable in foreign
currencies;
- MEDIROM’s ability to maintain and enhance the value of its
brands and to enforce and maintain its trademarks and protect its
other intellectual property;
- MEDIROM’s ability to raise additional capital on acceptable
terms or at all;
- MEDIROM’s level of indebtedness and potential restrictions on
MEDIROM under MEDIROM’s debt instruments;
- changes in consumer preferences and MEDIROM’s competitive
environment;
- MEDIROM’s ability to respond to natural disasters, such as
earthquakes and tsunamis, and to global pandemics, such as
COVID-19; and
- the regulatory environment in which MEDIROM operates.
More information on these risks and other potential factors that
could affect MEDIROM’s business, reputation, results of operations,
financial condition, and stock price is included in MEDIROM’s
filings with the Securities and Exchange Commission (the “SEC”),
including in the “Risk Factors” and “Operating and Financial Review
and Prospects” sections of MEDIROM’s most recently filed periodic
report on Form 20-F and subsequent filings, which are available on
the SEC website at www.sec.gov. MEDIROM assumes no obligation to
update or revise these forward-looking statements for any reason,
or to update the reasons actual results could differ from those
anticipated in these forward-looking statements, even if new
information becomes available in the future.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/87e4abd5-0267-4d6a-97ca-b1d56e56f3d6
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