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 June, 2024

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 office)

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

☒ Form 20-F ◻ Form 40-F

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Issuance of Press Releases

On June 25, 2024, MEDIROM Healthcare Technologies Inc. (the “Company”) is issuing a press release announcing its major Key Performance Indicators, or KPIs, updated for the month of May 2024. A copy of this press release is attached to this current report on Form 6-K as Exhibit 99.1.

In addition, on June 25, 2024, the Company is issuing a press release announcing the filing of its Annual Report on Form 20-F for the year ended December 31, 2023 and certain financial results for such year. A copy of this press release is attached to this current report on Form 6-K as Exhibit 99.2.

The press releases furnished in this report as Exhibits 99.1 and 99.2 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, and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, as amended, except to the extent specifically provided in such a filing.

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press release of the Company, dated June 25, 2024, regarding the Company’s major KPIs, updated for May 2024
99.2	Press release of the Company, dated June 25, 2024, regarding the Company’s filing of its Annual Report on Form 20-F and financial results

SIGNATURES

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

	MEDIROM HEALTHCARE TECHNOLOGIES INC.
Date: June 25, 2024	By:	/s/ Fumitoshi Fujiwara
		Name:	Fumitoshi Fujiwara
		Title:	Chief Financial Officer

EX-99.1

Exhibit 99.1

MEDIROM Healthcare Technologies Inc. Announces May 2024

Key Performance Indicators (KPIs)

Total Customers Served: 80,512 – Sales Per Customer: JPY 6,964 – Customer Repeat Ratio: 74.8%

Tokyo/June 25, 2024 – MEDIROM Healthcare Technologies Inc. (NasdaqCM: MRM), a holistic healthcare company based in Japan (the “Company”), today announced its major Key Performance Indicators, or KPIs, updated for the month of May 2024. Data is provided for all salons for which comparable financial and customer data is available and excludes certain salons where such information is not available.

Salon Operation Business

The following monthly KPIs provide insight into the business fundamentals and progress of the Company, updated for the month of May 2024:

· The number of salons was 307 in May 2024, down from 314 in the year-ago period.

· Total customers served decreased to 80,512 in May 2024 from 86,895 in the year-ago period.

· Sales per customer increased to JPY 6,964 in May 2024 from JPY 6,660 in the year-ago period. The increase is primarily attributed to price revisions and the upselling of value-added optional services.

· Repeat ratio, a measure of repeat customers, decreased slightly to 74.8% in May 2024 from 75.7% in the year-ago period.

· Operation ratio was 44.9% in May 2024, down from 47.5% in the year-ago period.

· The total number of salons with data was 284 in May 2024, the same as in May 2023. The number of salons with data decreases when the Company closes salons with data available and increases as the Company opens salons with such data or upgrades the customer management system in existing salons to provide such data.

	Number of Salons(*1)	Number of Salons with Data(*2)	Total Customers Served(*3)	Sales per Customer(*4)	Repeat Ratio(*5)	Operation Ratio(*6)
May-23	314	284	86,895	JPY 6,660	75.7%	47.5%
June-23	314	287	81,280	JPY 6,801	76.0%	46.7%
July-23	315	290	88,240	JPY 6,985	76.0%	48.1%
August-23	316	291	87,224	JPY 6,946	74.6%	48.0%
September-23	315	290	84,393	JPY 6,991	76.7%	47.0%
October-23	315	291	82,249	JPY 6,891	77.4%	45.4%
November-23	313	289	75,290	JPY 7,045	77.5%	43.9%
December-23	314	290	83,124	JPY 7,271	77.7%	46.7%
January-24	311	287	74,533	JPY 7,147	76.8%	44.7%
February-24	311	287	71,376	JPY 7,099	77.6%	44.9%
March-24	312	288	77,854	JPY 7,190	77.9%	45.7%
April-24	308	285	74,621	JPY 7,143	75.9%	43.5%
May-24	307	284	80,512	JPY 6,964	74.8%	44.9%

(*1) Number of Salons: Includes the Company’s directly-operated salons and franchisees’ salons.

(*2) Number of Salons with Data: The number of salons for which comparable financial and customer data is available.

(*3) Total Customers Served: The number of customers served at salons for which comparable financial and customer data is available.

(*4) Sales Per Customer: The ratio of total salon sales to number of treated customers at all salons for which comparable financial and customer data is available.

(*5) Repeat Ratio: The ratio of repeat customer visits to total customer visits in the applicable month for all salons for which comparable financial and customer data is available.

(*6) Operation Ratio: The ratio of therapists’ in-service time to total therapists’ working hours (including stand-by time) for the applicable month for all salons for which comparable financial and customer data is available.

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* Repeat ratios shown in the chart above do not include salons in public bath houses. In May 2024, the repeat ratios for all salons and salons in public bathhouses only were 74.8% and 56.7%, respectively.

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*Since July 2021, the salon operation business has been managed by Wing Inc., which is a wholly-owned subsidiary of the Company.

Health Tech Business (Lav®)

The Company offers a government-specific health guidance program (the “Program”) using Lav®, an on-demand training application developed by the Company. The Program is designed to be less burdensome for the users and is delivered through a completely remote support style using the web remote interview and chat function of Lav®. This approach helps to reduce the dropout rate of conventional specific health guidance programs.

The Program provides support to medical professionals, such as public health nurses, dietitians, etc., that assist eligible individuals (age between 40 and 74) who are at risk of developing lifestyle-related diseases that can be caused by an unbalanced diet, lack of sleep, lack of exercise, smoking, stress, and other factors, by reviewing their lifestyle habits through specific health checkups that focus on metabolic syndrome. The implementation of specific health checkups and specific health guidance has become mandatory for medical insurers in Japan, including national health insurance and employee health insurance providers, since April 2008.

The Ministry of Health, Labor and Welfare has set a nationwide target of at least 70% for specific medical checkup implementation rates and at least 45% for specific health guidance implementation rates. In fiscal year 2021, however, the medical checkup implementation rates and specific health guidance implementation rates were only 56.5% and 24.6%, respectively. As a result, the market for these services is expected to expand due to the government’s effort to achieve the set target implementation rates. According to a survey by the Japan Health Guidance Association, the utilization of Information and Communication Technology (ICT) has been increasing, and the adoption rate has exceeded 50% due to the impact of COVID-19 in recent years.

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As of May 2024, the Company has entered into contracts with 81 corporate insurance associations, and the cumulative number of users of the Company’s Lav® app has exceeded 7,000 people, bringing the total to 7,238 individuals.

	Number of New Contracts with Corporate Insurance Associations(*1)	Number of New Users(*2)	Cumulative Number of Contracts with Corporate Insurance Associations(*3)	Cumulative Number of Users
May-23	1	158	68	5,072
June-23	1	199	69	5,271
July-23	0	163	69	5,434
August-23	0	100	69	5,534
September-23	2	179	71	5,713
October-23	1	293	72	6,006
November-23	1	256	73	6,262
December-23	1	161	74	6,423
January-24	1	174	75	6,597
February-24	1	152	76	6,749
March-24	1	203	76	6,952
April-24	3	187	79	7,139
May-24	2	99	81	7,238

(*1) Number of new contracts with corporate insurance associations entered into in the applicable month to implement specified health guidance program offered by the Company.

(*2) Number of new users that started using specified health guidance offered by the Company in the applicable month.

(*3) Cumulative number of contracts with corporate insurance associations excluding the number of terminated contracts.

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Forward-Looking Statements

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 the Company’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 the Company’s future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause the Company’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 the Company’s control and which could, and likely will, affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to the Company’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:

· the Company’s ability to achieve its development goals for its business and execute and evolve its growth strategies, priorities and initiatives;

· the Company’s ability to sell certain of its owned salons to investors, and receive management fees from such sold salons, on acceptable terms;

· changes in Japanese and global economic conditions and financial markets, including their effects on the Company’s expansion in Japan and certain overseas markets;

· the Company’s ability to achieve and sustain profitability in its Digital Preventative Healthcare Segment;

· the fluctuation of foreign exchange rates, which affects the Company’s expenses and liabilities payable in foreign currencies;

· the Company’s ability to hire and train a sufficient number of therapists and place them at salons in need of additional staffing;

· changes in demographic, unemployment, economic, regulatory or weather conditions affecting the Tokyo region of Japan, where the Company’s relaxation salon base is geographically concentrated;

· the Company’s ability to maintain and enhance the value of its brands and to enforce and maintain its trademarks and protect its other intellectual property;

· the financial performance of the Company’s franchisees and the Company’s limited control with respect to their operations;

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· the Company’s ability to raise additional capital on acceptable terms or at all;

· the Company’s level of indebtedness and potential restrictions on the Company under the Company’s debt instruments;

· changes in consumer preferences and the Company’s competitive environment;

· the Company’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 the Company operates.

More information on these risks and other potential factors that could affect the Company’s business, reputation, results of operations, financial condition, and stock price is included in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including in the “Risk Factors” and “Operating and Financial Review and Prospects” sections of the Company’s most recently filed periodic report on Form 20-F and subsequent filings, which are available on the SEC website at www.sec.gov. The Company 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.

About MEDIROM Healthcare Technologies Inc.

MEDIROM, a holistic healthcare company, operates 307 (as of May 31, 2024) relaxation salons across Japan, Re.Ra.Ku^® being its leading brand, and provides healthcare services. In 2015, MEDIROM entered the health tech business and launched new healthcare programs using an on-demand training app called “Lav^®”, which is developed by the Company. MEDIROM also entered the device business in 2020 and has developed a smart tracker “MOTHER Bracelet^®”. In 2023, MEDIROM launched REMONY, a remote monitoring system for corporate clients, and has received orders from a broad range of industries, including nursing care, transportation, construction, and manufacturing, among others. MEDIROM hopes that its diverse health-related product and service offerings will help it collect and manage healthcare data from users and customers and enable it to become a leader in big data in the healthcare industry. For more information, visit https://medirom.co.jp/en.

■Contacts

Investor Relations Team

ir@medirom.co.jp

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EX-99.2

Exhibit 99.2

MEDIROM Healthcare Technologies Inc. Announces

Financial Results for Fiscal Year 2023

Tokyo, Japan, June 25, 2024 (GLOBE NEWSWIRE) -- MEDIROM Healthcare Technologies Inc. (NASDAQ: MRM) (“Medirom” or the “Company”), a holistic healthcare company based in Japan, announced it filed its Annual Report on Form 20-F for the year ended December 31, 2023 with the U.S. Securities and Exchange Commission ("SEC"), including consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), on June 18, 2024.

Kouji Eguchi, Chief Executive Officer of the Company, stated “I am very pleased to announce that during a period of significant investment and development in our healthcare technology systems and products in FY 2023 and FY 2022, as well as recovering in a post-pandemic environment, we generated net profit and positive adjusted EBITDA for two consecutive years. The profitability of our directly-operated wellness salons, sales of 30 wellness salons, and growth of our digital wellness healthcare technology app, Lav, primarily led to the net profit and adjusted EBITDA in 2023. We believe remaining a profitable company while developing and beginning to commercialize our healthcare technology is a significant milestone for Medirom. In 2023, we focused on further developing our digital wellness healthtech products and services with the launch of full scale operations of the REMONY Monitoring System. We continue to work to expand our B2B sales by selling our healthtech systems and products as a health data central management platform across the MOTHER Bracelet, MOTHER Gateway, and REMONY Monitoring System.”

Summary of Consolidated Financial Results for 2023

The following is a comparison of certain of our operating results for the years ended December 31, 2023 and December 31, 2022.

(in thousands, except change % data and Adjusted EBITDA margin)	Year ended December 31,									Change (2023 vs 2022)
Consolidated Statement of Operations:	2023($)			2023(¥)			2022(¥)			$			¥	%
Revenues:
Relaxation Salon	$	43,002		¥	6,059,851		¥	5,972,913		$	617	¥	86,938	1.5
Luxury Beauty		4,029			567,695			594,761			-193	¥	-27,066	-4.6
Digital Preventative Healthcare		1,422			200,397			386,383			-1,320	¥	-185,986	-48.1
Total revenue		48,453			6,827,943			6,954,057			-895	¥	-126,114	-1.8
Cost of revenues and operating expenses:
Cost of revenues		37,320			5,259,075			5,051,600			1,472	¥	207,475	4.1
Selling, general and administrative expenses		13,912			1,960,447			1,805,490			1,100	¥	154,957	8.6
Total cost of revenues and operating expenses		51,232			7,219,522			6,857,090			2,572	¥	362,432	5.3
Operating income (loss)	$	-2,779		¥	-391,579		¥	96,967		$	-3,467	¥	-488,546	-504
Other income (expenses):
Dividend income		—			2			2			—		—	—
Interest income		8			1,111			6,072			-35	¥	-4,961	-81.7
Interest expense		-262			-36,868			-9,800			-192	¥	-27,068	276.2
Gain from sales of salons		2,936			413,678			—			2,936		413,678	—
Other, net		243			34,278			86,533			-371	¥	-52,255	-60.4
Total other income		2,925			412,201			82,807			2,337	¥	329,394	397.8
Income tax (benefit) expense		-670			-94,427			30,809			-889	¥	-125,236	—
Net income (loss)		816			115,049			148,965			-241	¥	-33,916	-22.8
Adjusted EBITDA(1)	$	2,173		¥	306,324		¥	380,464		$	-526	¥	-74,140	-19.5
Adjusted EBITDA margin(1)		4.50	%		4.50	%		5.50	%					-1.0

(1) Non-GAAP measure. See the section below captioned “Non-GAAP Measures” for more details, and see the table below captioned “Reconciliation of non-GAAP measures” for a reconciliation of Adjusted EBITDA to net income, the most comparable U.S. GAAP measure.

Revenues

Revenues derived from our Relaxation Salon Segment were JPY6,059,851 thousand (US$43,002 thousand) in the year ended December 31, 2023 and JPY5,972,913 thousand (US$42,385 thousand) in the year ended December 31, 2022. The primary factor for the increase in revenues from directly-operated salons between 2022 and 2023 was increased Sales per Customer. In 2022, our Sales per Customer

(based on information obtained from our salons for which comparable financial and customer data are available) were JPY6,627, as compared to JPY6,852 in 2023, which we believe is primarily attributable to our new pricing introduced in 2023 and the promotion of value-added services. In addition, we sold 30 salons to third-party investors in 2023 under the sale-and-outsource business model. Revenue from our Digital Preventative Healthcare Segment decreased by JPY185,986 thousand (US$1,320 thousand) from JPY386,384 thousand (US$2,742 thousand) in 2022 to JPY200,397 thousand (US$1,422 thousand) in 2023. This decrease was primarily due to delay in the development of our REMONY® system and MOTHER Gateway device, with which corporate customers can benefit from our SDK open policy and monitor health conditions of a large number of MOTHER Bracelet® users, partially offset with an increase in the number of participants in the Health Guidance Program and launch of Lav® app services.

Cost of Revenues

For the years ended December 31, 2023 and 2022, the cost of revenues was JPY5,259,075 thousand (US$37,320 thousand) and JPY5,051,600 thousand (US$35,847 thousand), respectively. The increase was primarily due to an increase in the cost of operation of salons outsourced from investors corresponding to an increased number of investor-owned salons, an increase in payroll of our salon staff and an increase in outsourcing costs of contract-based therapists, partially offset by decreased cost of franchising due to a decrease in the number of franchisees and decreased unit costs of the MOTHER Bracelet® due to a decrease in the number of MOTHER Bracelet® units sold. The cost of revenues as a percentage of total revenues was 77.0% during the year ended December 31, 2023 and 72.6% during the year ended December 31, 2022.

Selling, General, and Administration Expenses

For the years ended December 31, 2023 and 2022, the selling, general, and administration expenses were JPY1,960,447 thousand (US$13,911 thousand) and JPY1,805,490 thousand (US$12,812 thousand), respectively. Selling, general, and administration expenses as a percentage of total revenues in the years ended December 31, 2023 and 2022 were 28.7% and 26.0%, respectively. The increase in 2023 was primarily due to increase in professional fees, increase in advertising and promotion expenses, and increase in payroll.

Interest Expense

Interest expense increased from JPY9,800 thousand (US$70 thousand) in 2022 to JPY36,868 thousand (US$262 thousand) in 2023, primarily due recognition of interest for a full year with respect to the JPY500,000 thousand (US$3,548 thousand) convertible bonds issued to Kufu Company Inc. in December 2022.

Income Tax (Benefit) Expense

Income tax benefit for 2023 was JPY94,427 thousand (US$670 thousand), compared to an income tax expense of JPY30,809 thousand (US$219 thousand) in 2022. In 2023, we reorganized our corporate structure and Medirom began to be able to utilize its loss carryforward on a standalone basis with more stabilized sources of earnings due to the reorganization. Based on that, our recognition of valuation allowance over our deferred tax assets of JPY625,615 thousand (US$4,440) was partial, resulting in net deferred tax assets of JPY101,636 thousand (US$721 thousand) as of December 31, 2023, compared to full valuation allowance of JPY742,122 thousand (US$5,630 thousand) against our deferred tax assets as of December 31, 2022.

Net Income and Adjusted EBITDA

Our consolidated net income in the year ended December 31, 2023 was JPY115,049 thousand (US$817 thousand), or 1.6% of our consolidated revenue, while our consolidated net income for the year ended December 31, 2022 was JPY148,945 thousand (US$1,057 thousand), or 2.1% of our consolidated revenue, as a result of the key factors described above. Our Adjusted EBITDA decreased from JPY380,464 thousand (US$2,700 thousand) to JPY306,324 thousand (US$2,173 thousand), resulting in a decrease in Adjusted EBITDA margin from 5.5% in 2022 to 4.2% in 2023.

Non-GAAP Measures

Adjusted EBITDA.   We define Adjusted EBITDA as net income (loss), adjusted to exclude: (i) dividend and interest income, (ii) interest expense, (iii) gain from bargain purchases, (iv) income tax expense, (v) depreciation and amortization, (vi) losses on sales of directly-owned salons to franchisees, (vii) gains (losses) on disposal of property and equipment, and other intangible assets (viii)

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impairment loss on long-lived assets and (ix) stock-based compensation expense. Management considers Adjusted EBITDA to be a measurement of performance which provides useful information to both management and investors. Adjusted EBITDA should not be considered an alternative to net income or other measurements under GAAP. Adjusted EBITDA is not calculated identically by all companies and, therefore, our measurements of Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies.

We use Adjusted EBITDA to enhance our understanding of our operating performance, which represents our views concerning our performance in the ordinary, ongoing and customary course of our operations. We historically have found it helpful, and believe that investors have found it helpful, to consider an operating measure that excludes certain expenses relating to transactions not reflective of our core operations. Stock-based compensation expense represents non-cash charges related to equity awards granted by us. We recognized stock-based compensation expense in 2021. Our management believes the measurement of these amounts can vary considerably from period to period and depend substantially on factors that are not direct consequences of the performance of our Company and are not within our management’s control. Therefore, our management believes that excluding these expenses facilitates comparisons of our operational results and financial performances in different periods, as well as comparisons against similarly determined non-GAAP financial measures of comparable companies.

The information about our operating performance provided by this financial measure is used by our management for a variety of purposes. We regularly communicate Adjusted EBITDA results to our board of directors, and we discuss with the board our interpretation of such results. We also compare our Adjusted EBITDA performance against internal targets as a key factor in evaluating our periodic operating performance at each salon level, segment level, and consolidated level, largely because we believe that this measure is indicative of how the fundamental business is performing and is being managed.

Adjusted EBITDA Margin.   Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA for a period by total revenue for the same period.

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 (benefit)		(670)			(94,427)			30,809
Depreciation and amortization		1,792			252,595			184,056
Losses on sales of directly-owned salons to franchisees		—			—			—
Losses on disposal of property and equipment, net and other intangible assets, net		(19)			(2,648)			12,908
Impairment loss on long-lived assets		—			—			—
Stock-based compensation expense		—			—			—
Adjusted EBITDA	$	2,173		¥	306,324		¥	380,464
Adjusted EBITDA margin		4.5	%		4.5	%		5.5	%

Forward-Looking Statements

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 the Company’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 the Company’s future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause the Company’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

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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 the Company’s control and which could, and likely will, affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to the Company’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:

● the Company’s ability to achieve its development goals for its business and execute and evolve its growth strategies, priorities and initiatives;

● the Company’s ability to sell certain of its owned salons to investors, and receive management fees from such sold salons, on acceptable terms;

● changes in Japanese and global economic conditions and financial markets, including their effects on the Company’s expansion in Japan and certain overseas markets;

● the Company’s ability to achieve and sustain profitability in its Digital Preventative Healthcare Segment;

● the fluctuation of foreign exchange rates, which affects the Company’s expenses and liabilities payable in foreign currencies;

● the Company’s ability to hire and train a sufficient number of therapists and place them at salons in need of additional staffing;

● changes in demographic, unemployment, economic, regulatory or weather conditions affecting the Tokyo region of Japan, where the Company’s relaxation salon base is geographically concentrated;

● the Company’s ability to maintain and enhance the value of its brands and to enforce and maintain its trademarks and protect its other intellectual property;

● the financial performance of the Company’s franchisees and the Company’s limited control with respect to their operations;

● the Company’s ability to raise additional capital on acceptable terms or at all;

● the Company’s level of indebtedness and potential restrictions on the Company under the Company’s debt instruments;

● changes in consumer preferences and the Company’s competitive environment;

● the Company’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 the Company operates.

More information on these risks and other potential factors that could affect the Company’s business, reputation, results of operations, financial condition, and stock price is included in the Company’s filings with the SEC, including in the “Risk Factors” and “Operating and Financial Review and Prospects” sections of the Company’s most recently filed periodic report on Form 20-F and subsequent filings, which are available on the SEC website at www.sec.gov. The Company 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.

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About MEDIROM Healthcare Technologies Inc.

MEDIROM, a holistic healthcare company, operates 307 (as of May 31, 2024) relaxation salons across Japan, Re.Ra.Ku^® being its leading brand, and provides healthcare services. In 2015, MEDIROM entered the health tech business and launched new healthcare programs using an on-demand training app called “Lav^®”, which is developed by the Company. MEDIROM also entered the device business in 2020 and has developed a smart tracker “MOTHER Bracelet^®”. In 2023, MEDIROM launched REMONY, a remote monitoring system for corporate clients, and has received orders from a broad range of industries, including nursing care, transportation, construction, and manufacturing, among others. MEDIROM hopes that its diverse health-related product and service offerings will help it collect and manage healthcare data from users and customers and enable it to become a leader in big data in the healthcare industry. For more information, visit https://medirom.co.jp/en.

■Contacts

Investor Relations Team

ir@medirom.co.jp

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