6-K 1 tm2316269d2_6k.htm FORM 6-K

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of May, 2023

 

Commission File Number 001-39809

 

MEDIROM HEALTHCARE TECHNOLOGIES INC.

(Translation of registrant’s name into English)

 

2-3-1 Daiba, Minato-ku
Tokyo 135-0091, Japan

(Address of Principal Executive Offices)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

 

x Form 20-F ¨ Form 40-F

 

 

 

 

 

 

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

 

Other Events

 

On May 23, 2023, MEDIROM Healthcare Technologies Inc. (the “Company”) received a written determination from the Nasdaq Hearings Panel (the “Panel”) granting the Company’s request for a further extension until May 30, 2023 to demonstrate compliance with the net income standard set forth in Nasdaq Listing Rule 5550(b)(3) in the Company’s Annual Report on Form 20-F for fiscal year ended December 31, 2022 (the “Annual Report”). In addition, on May 23, 2023, the Company received a written notice from the department of Listing Qualifications of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it was not in compliance with the periodic filing requirements for continued listing set forth in Nasdaq Listing Rule 5250(c)(1) due to the delay in the filing of the Annual Report. The Company has been provided seven calendar days, or until May 30, 2023, to regain compliance. The Company intends to file the Annual Report with the U.S. Securities and Exchange Commission on or before May 30, 2023.

 

As previously disclosed, on December 28, 2022, the Company received a written notice from Nasdaq notifying the Company that, based upon the Company’s non-compliance with the $35 million market value of listed securities requirement set forth in Nasdaq Listing Rule 5550(b)(2), the Company’s ADSs were to be suspended from trading on and delisted from Nasdaq. The Company timely requested a hearing before the Panel to appeal the delisting determination, which hearing was granted and held on February 16, 2023. On March 15, 2023, the Company received a written notice from the Panel granting the Company’s request for continued listing on Nasdaq until May 1, 2023, subject to evidencing compliance by such date with the net income standard, which requires a minimum net income from continuing operations of $500,000 in the most recently completed fiscal year or two of the last three most recently completed fiscal years. On April 28, 2023, the Company received a written notice from the Panel granting the Company’s request for an extension until May 19, 2023 to demonstrate compliance with the net income standard in the Annual Report. The Company was not able to file the Annual Report by May 19, 2023 due to a delay in the completion of the audit for the year ended December 31, 2022.

 

Issuance of Press Release

 

On May 24, 2023, the Company issued a press release to announce that the Panel has granted the Company’s request for a further extension until May 30, 2023 to demonstrate compliance with the net income standard and the receipt of the late filing notice from Nasdaq.

 

The press release furnished as Exhibit 99.1 to this report on Form 6-K shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.

 

 

 

 

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

 

This report on Form 6-K (this “Form 6-K”) contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this Form 6-K that do not relate to matters of historical fact should be considered forward-looking statements, including, but not limited to, statements regarding the Company’s intent to file, and the timing of filing, its Annual report on Form 20-F. The Company’s actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, including the risk that the Company may not otherwise meet the requirements for continued listing under the Nasdaq Listing Rules, the risk that Nasdaq may not grant the Company relief from delisting if necessary, and the risk that the Company may not ultimately meet applicable Nasdaq requirements if any such relief is necessary, among other risks and uncertainties. These and other important factors discussed under the caption “Risk Factors” in the Company’s Annual Report on Form 20-F for the year ended December 31, 2021 filed with the U.S. Securities and Exchange Commission (the “SEC”) on November 14, 2022, and the Company’s other filings with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements made in this Form 6-K. Any forward-looking statements speak only as of the date of this Form 6 K and are based on information available to the Company as of the date of this Form 6-K, and the Company assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise.

 

EXHIBIT INDEX

 

Exhibit No.   Description
99.1   Press release of the Company, dated May 24, 2023

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  MEDIROM Healthcare Technologies Inc.
Date: May 24, 2023    
  By:

/s/ Fumitoshi Fujiwara

    Name: Fumitoshi Fujiwara
    Title:   Chief Financial Officer