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, 2025

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 Release; Earnings Call Management Presentation

On May 20, 2025, MEDIROM Healthcare Technologies Inc. (the “Company”) issued a press release discussing certain Company financial results for the fiscal year ended December 31, 2024 and stating that the Company will hold a webcast to discuss its financial results for the fiscal year ended December 31, 2024 on Wednesday, May 21, 2025 at 8:30 a.m. U.S. Eastern Time.

The press release and a copy of the management presentation to be presented during the webcast are being furnished as Exhibits 99.1 and 99.2, respectively, to this report on Form 6-K, and 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.

EXHIBIT INDEX

Exhibit No.	Description
99.1	Press release of the Company, dated May 20, 2025
99.2	Management presentation

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: May 20, 2025
	By:	/s/ Fumitoshi Fujiwara
		Name: Fumitoshi Fujiwara
		Title: Chief Financial Officer

EX-99.1

Exhibit 99.1

MEDIROM Healthcare Technologies Inc. Announces 22% Rise in Revenue and 20% Improvement in Earnings for 2024; Webcast to Discuss Financial Results to be held on May 21^st, 2025 at 8:30 AM ET

TOKYO, May 20, 2025 (GLOBE NEWSWIRE) -- MEDIROM Healthcare Technologies Inc. (Nasdaq CM: MRM), a holistic healthcare company based in Japan (the “Company” or “MEDIROM”), today announced that for the year ended December 31, 2024, the Company had total revenue of $52,736,000, a 22% increase over total revenue of $43,388,000 for the year ended December 31, 2023. (The Company reports its financial results in Japanese yen and figures presented in this press release in US dollars have been translated for convenience at the exchange rate of ¥ 157.37 = US$1.00. See “Convenience Translations to US Dollars” below for more information.)

Net income for 2024 was $878,000, or $0.17 per basic share, a 20% improvement compared with net income of $731,000, or $0.15 per basic share, for 2023.

MEDIROM’s improvement in revenue in 2024 was primarily driven by a 23% increase in the Company’s Relaxation Salon Segment revenue to $47,317,000, compared with $38,507,000 in 2023.

The Company’s increase in net income in 2024 was primarily the result of the rise in total revenue, a decrease in cost of revenues as a percentage of total revenues to 72.9% in 2024 compared with 77.0% during 2023, and a decrease in selling, general and administrative expenses as a percentage of total revenues to 27.0% in 2024 compared with 28.7% in 2023.

As of December 31, 2024, MEDIROM had cash and cash equivalents of $2,093,000, compared with $676,000 as of December 31, 2023. The Company’s total indebtedness was $11,925,000 and $9,857,000 as of December 31, 2024 and 2023, respectively.

Net cash used in operating activities was $8,462,000 in 2024 compared with $4,014,000 in 2023. Net cash provided in investing activities was $2,296,000 in 2024 while the Company had net cash used in investing activities of $2,088,000 in 2023. Net cash provided by financing activities was $7,583,000 in 2024 compared with $2,931,000 in 2023.

Basic weighted average common shares outstanding were 5,107,404 in 2024 and 4,882,500 in 2023.

“Thus far in 2025, MEDIROM has announced several notable developments,” said Chief Executive Officer Koji Eguchi. “In January, the Company’s subsidiary, MEDIROM MOTHER Labs Inc., began providing its remote health monitoring system, REMONY, and charging-free smart tracker device, MOTHER Bracelet®︎, to the Electronics Division of TOPPAN Inc. (Tokyo Stock Exchange: 7911). Also in January, all corporate capital registration procedures under Japanese law were completed with respect to the Company’s offering of 2,860,000 common shares represented by American Depositary Shares, generating gross proceeds of approximately $5 million.”

“In March, Yasuhiro Hayami, Chief Business Officer of MEDIROM Mother Labs Inc., made a second investment in Mother Labs’ Series A financing at a pre-money valuation of approximately $60 million. This new investment followed Mr. Hayami’s initial investment in a Series A financing in December 2024. Also in March, MEDIROM obtained a new unsecured short-term bank loan in the amount of approximately $2.4 million, which is being used for repayment of indebtedness to MEDIROM Mother Labs and for general working capital, including MOTHER Bracelet development.”

Looking forward to the rest of 2025, Mr. Eguchi said that MEDIROM “will continue to strive to improve revenue growth and bottom-line performance for the year.” Mr. Eguchi added, “As for near-term goals, we aim to not only to capture a significant share of the existing Japanese market for relaxation salons but also to expand our Digital Preventative Healthcare business lines through a variety of strategic initiatives and to increase the margin in that segment. As part of this, we intend to increase the number of Lav® users via the Specific Health Guidance Program promoted by the Ministry of Health, Labor and Welfare of Japan and expand the billing user base for the upgraded Lav® application. We also intend to accelerate the production of our MOTHER Bracelet® for large orders from corporate clients.”

On April 29, 2025, the Company filed its most recent annual report on Form 20-F, which annual report covers the Company’s financial results for the 2024 fiscal year and is available on the Securities and Exchange Commission website at www.sec.gov.

Convenience Translations to US Dollars

The Company’s financial results presented in this press release in US dollars have been translated for convenience from Japanese yen at the exchange rate of ¥ 157.37 = US$1.00, which was the foreign exchange rate on December 31, 2024, as reported by the Board of Governors of the Federal Reserve System in its weekly release on January 6, 2025. These financial results, as reported by the Company in Japanese yen, are included in the tabular data at the end of this press release.

Webcast

MEDIROM will hold a webcast to discuss the Company’s financial results for the fiscal year ended December 31, 2024, on Wednesday, May 21 at 8:30 am Eastern time.

To access the webcast, please go to the following URL five to ten minutes prior to its start:

 https://event.choruscall.com/mediaframe/webcast.html?webcastid=9rHZ3uFf

To participate in the webcast, please use the following dial-in numbers:

North America (toll free):	1-844-413-3971
International:	1-412-317-5775
Japan (toll-free):	0066-33-1-33094
Conference Replay:

A replay of this call will be available on May 21, 2025 at 11:30 a.m. ET until June 4, 2025, at 11:59 PM ET.

To access the replay, please dial:

US (toll free):	1-877-344-7529
International (toll):	1-412-317-0088
Canada (toll free):	855-669-9658
Replay Access Code:	9951136

To access the replay using an international dial-in number, please select the following link:

https://services.choruscall.com/ccforms/replay.html

About MEDIROM Healthcare Technologies Inc.

MEDIROM, a holistic healthcare company, operates 307 (as of March 31, 2025) 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.

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;

● 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.

Contact:
Investor Relations Team
ir@medirom.co.jp

The financial information below should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 20-F for the year ended December 31, 2024 (the “Audited Financial Statements”), which is available on the Securities and Exchange Commission website at www.sec.gov.

CONSOLIDATED BALANCE SHEETS

AS OF DECEMBER 31, 2024 AND 2023

(Yen in thousands, except share data)

	December 31,
	2024		2023
ASSETS
Current assets:
Cash and cash equivalents	¥	329,399	¥	106,347
Time deposits		6,156		26,502
Accounts receivable-trade, net		1,355,489		621,867
Accounts receivable-other, net		646,207		606,074
Inventories		151,637		139,982
Prepaid expenses and other current assets		217,174		257,932
Total current assets		2,706,062		1,758,704
Property and equipment, net		435,659		451,498
Goodwill		389,131		484,564
Other intangible assets, net		1,139,297		920,700
Investments		87,418		81,542
Long-term accounts receivable-other, net		84,338		95,797
Right-of-use asset - operating lease, net		2,073,763		2,089,402
Lease and guarantee deposits		808,550		848,691
Deferred tax assets, net		285,882		101,636
Other assets		80,571		16,655
Total assets	¥	8,090,671	¥	6,849,189
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	¥	1,014,205	¥	137,697
Accrued expenses		325,544		1,261,909
Short-term borrowings		491,667		400,000
Current portion of long-term borrowings		620,813		100,415
Income tax payable		58,572		14,888
Current portion of contract liability		53,485		109,307
Advances received		409,710		402,742
Current portion of operating lease liability		792,781		763,422
Other current liabilities		414,704		370,213
Total current liabilities		4,181,481		3,560,593
Borrowings - net of current portion		764,200		1,050,802
Deposit received		236,179		261,922
Contract liability - net of current portion		36,913		71,134
Operating lease liability - net of current portion		1,287,509		1,334,630
Asset retirement obligation		378,907		344,346
Other liabilities		17,424		9,801
Total liabilities		6,902,613		6,633,228
Redeemable noncontrolling interests		200,160		―
COMMITMENTS AND CONTINGENCIES (See Note 17 to the Audited Financial Statements)
SHAREHOLDERS’ EQUITY:
Common stock, no par value; 19,899,999 shares authorized; 7,994,450 shares issued and 7,901,950 shares outstanding and 4,975,000 shares issued and 4,882,500 shares outstanding at December 31, 2024 and 2023		352,523		19,900
Class A common stock, no par value; 1 share authorized; 1 share issued and 1 share outstanding at December 31, 2024 and 2023		100		100
Treasury stock, at cost- 92,500 common shares at December 31, 2024 and 2023		(3,000)		(3,000)
Additional paid-in capital		354,605		113,602
Retained earnings		229,040		80,277
Total equity attributable to shareholders of the Company		933,268		210,879
Noncontrolling interests		54,630		5,082
Total equity		987,898		215,961
Total liabilities and shareholders’ equity	¥	8,090,671	¥	6,849,189

CONSOLIDATED STATEMENTS OF OPERATIONS

FOR THE YEARS ENDED DECEMBER 31, 2024, 2023 AND 2022

(Yen in thousands, except share and per share data)

	Years Ended December 31,
	2024		2023		2022
Revenues:
Revenue from directly-operated salons	¥	7,352,868	¥	5,656,519	¥	5,396,294
Franchise revenue		792,633		971,027		1,163,998
Other revenues		153,633		200,397		393,765
Total revenues		8,299,134		6,827,943		6,954,057
Cost of revenues and operating expenses:
Cost of revenue from directly-operated salons		5,575,568		4,552,408		4,129,240
Cost of franchise revenue		316,655		523,330		645,733
Cost of other revenues		160,626		183,337		276,627
Selling, general and administrative expenses		2,241,515		1,960,447		1,805,490
Impairment loss on long-lived assets		22,872		—		—
Total cost of revenues and operating expenses		8,317,236		7,219,522		6,857,090
Operating income (loss)		(18,102)		(391,579)		96,967
Other income (expense):
Dividend income		2		2		2
Interest income		8		1,111		6,072
Interest expense		(49,745)		(36,868)		(9,800)
Gain from sales of salons		40,631		413,678		—
Subsidies		13,855		21,376		20,625
Foreign currency exchange gain		18,121		26,825		14,830
Other, net		42,943		(13,923)		51,078
Total other income		65,815		412,201		82,807
Income before income tax expense		47,713		20,622		179,774
Income tax (benefit) expense		(90,478)		(94,427)		30,809
Net income		138,191		115,049		148,965
Less: Net loss attributable to noncontrolling interests		(10,572)		(355)		—
Net income attributable to shareholders of the Company	¥	148,763	¥	115,404	¥	148,965
Net earnings per share attributable to shareholders of the Company
Basic	¥	29.13	¥	23.64	¥	30.54
Diluted	¥	28.52	¥	22.34	¥	27.23
Weighted average shares outstanding
Basic		5,107,405		4,882,501		4,877,405
Diluted		5,851,516		5,166,653		5,470,655

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE YEARS ENDED DECEMBER 31, 2024, 2023 AND 2022

(Yen in thousands)

	Years Ended December 31,
	2024		2023		2022
Cash flows from operating activities:
Net income	¥	138,191	¥	115,049	¥	148,965
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization		290,038		252,595		184,056
Gain from sales of directly-owned salons		(1,697,112)		(1,244,240)		(858,548)
Change in provision for credit losses		49,780		1,958		(36,355)
Foreign currency exchange gain		(8,969)		(17,402)		—
(Gains) losses on disposal of property and equipment, net, other intangible assets, net and goodwill		7,109		(2,648)		12,908
Impairment loss on long-lived assets		22,872		—		—
Deferred income taxes, net		(188,706)		(101,636)		—
Other non-cash losses – net		53,146		45,718		—
Changes in operating assets and liabilities:
Accounts receivable-trade, net		339,120		580,681		(222,384)
Accounts receivable-other, net		(39,159)		43,382		(210,476)
Inventories		(10,612)		(25,873)		(95,406)
Prepaid expenses and other current assets		(2,362)		(530)		(181,477)
Lease and guarantee deposits		46,853		46,652		(27,185)
Accounts payable		876,508		(69,884)		(23,318)
Accrued expenses		(1,048,548)		97,045		517,714
Income tax payable		43,684		(45,006)		19,173
Contract liability		(90,042)		(64,999)		(82,636)
Advances received		(27,939)		(104,663)		(111,109)
Other current liabilities		22,740		(77,447)		254,742
Deposit received		(25,743)		(42,656)		(24,411)
Other assets and other liabilities – net		(82,530)		(17,833)		50,050
Net cash used in operating activities		(1,331,681)		(631,737)		(685,697)
Cash flows from investing activities:
Purchases of time deposits		(5,656)		—		—
Proceeds from maturities of time deposits		26,004		—		—
Acquisition of investments		—		(3,094)		—
Proceeds from sale of investment securities		3,558		—		—
Acquisition of property and equipment		(71,408)		(135,840)		(120,740)
Proceeds from sale of property and equipment		—		—		40,620
Acquisition of intangible assets		(493,405)		(786,178)		(45,761)
Proceeds from sale of salons		908,419		584,768		851,719
Acquisition of businesses – net of cash acquired		(21,348)		—		(148,000)
Payment received on short-term loans receivable		—		113		—
Payment received on long-term accounts receivable-other, net		15,229		11,655		2,599
Net cash provided (used in) by investing activities		361,393		(328,576)		580,437
Cash flows from financing activities:
Proceeds from issuance of common stock, net of issuance costs		608,101		—		—
Proceeds from issuance of preferred stock		260,280		—		—
Proceeds from short-term borrowings		710,000		400,000		—
Repayment of short-term borrowings		(588,333)		—		(162,252)
Proceeds from long-term borrowings		300,000		—		547,619
Repayment of long-term borrowings		(96,708)		(99,084)		(45,270)
Proceeds from sale of subsidiary stock		—		160,290		—
Net cash provided by financing activities		1,193,340		461,206		340,097
Net increase (decrease) in cash and cash equivalents		223,052		(499,107)		234,837
Cash and cash equivalents at beginning of year		106,347		605,454		370,617
Cash and cash equivalents at end of year	¥	329,399	¥	106,347	¥	605,454

EX-99.2

Exhibit 99.2

Preventative Health EMPOWERED Earnings Presentation May 2025

Forward-Looking Statements Certain statements included in this presentation (this “Presentation”) of MEDIROM Healthcare Technologies Inc., a company organized under the laws of Japan (the “Company,” “we,” “us” or “our”), are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may include projections and estimates concerning our possible or assumed future results of operations, financial condition, business strategies and plans, market opportunity, competitive position, industry environment, and potential growth opportunities. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “design,” “target,” “aim,” “expect,” “could,” “intend,” “plan,” “anticipate,” “estimate,” “believe,” “continue,” “predict,” “project,” “potential,” “goal” or other words that convey the uncertainty of future events or outcomes. You can also identify forward-looking statements by discussions of strategy, plans or intentions. These forward-looking statements include, but are not limited to, forecasts of financial and performance metrics (including key performance indicators), and projections of market size and opportunity. These statements are based on various assumptions and on the current expectations of the Company and its management and are not predictions of actual performance. While our management considers these assumptions and expectations to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond our control. If the risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that the Company currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. 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. In addition, forward-looking statements reflect the Company’s expectations, plans or forecasts of future events and views as of the date of this Presentation. The Company anticipates that subsequent events and developments will cause these assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this Presentation. Market and Industry Data This Presentation contains references to industry market data and certain industry forecasts. Industry market data and industry forecasts are obtained from publicly available information and industry publications. Industry publications generally state that the information contained therein has been obtained from sources believed to be reliable, but that the accuracy and completeness of that information is not guaranteed. Although we believe industry information to be accurate, it is not independently verified by us. Some data is also based on our good faith estimates, which are derived from our review of internal surveys or data, as well as the independent sources referenced above. Assumptions and estimates of our and our industry’s future performance are necessarily subject to a high degree of uncertainty and risk due to a variety of factors. These and other factors could cause future performance to differ materially from our assumptions and estimates. Non-GAAP Financial Measures This Presentation includes key performance indicators and non-GAAP financial metrics that we use to help us evaluate our business, identify trends affecting our business, formulate business plans, and make strategic decisions. Adjusted EBITDA and Adjusted EBITDA Margin are financial measures that are calculated and presented on the basis of methodologies other than in accordance with generally accepted accounting principles in the United States of America (“GAAP”). Any non-GAAP financial measures used in this Presentation are in addition to, and not meant to be considered superior to, or a substitute for, the Company’s financial statements prepared in accordance with GAAP. A reconciliation of each of these non-GAAP measures to their nearest GAAP measure is set forth on page 7 of this Presentation. The Company believes these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to our financial condition and results of operations. The Company’s management uses these non-GAAP measures to compare our performance to that of prior periods for trend analyses and for budgeting and planning purposes. These measures are used in monthly financial reports prepared for management and our board of directors. We believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends in and in comparing our financial measures with other similar companies, many of which present similar non-GAAP financial measures to investors. Management does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitation of these non-GAAP financial measures is that they exclude significant expenses and income that are required by GAAP to be recorded in our financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgments by management about which expense and income are excluded or included in determining these non-GAAP financial measures. Undue reliance should not be placed on these measures as the Company’s only measures of operating performance, nor should such measures be considered in isolation from, or as a substitute for, financial information presented in compliance with GAAP. Non-GAAP financial measures as used in respect of the Company may not be comparable to similarly titled amounts used by other companies. Unless otherwise noted, the Company’s financial results presented in this Presentation in US dollars have been translated for convenience from Japanese yen at the exchange rate of ¥157.37 = US$1.00, which was the foreign exchange rate on December 31, 2024, as reported by the Board of Governors of the Federal Reserve System in its weekly release on January 6, 2025. Additional information with respect to the Company is contained in its filings with the SEC and is available at the SEC’s website, www.sec.gov, and on the Company’s website, www.medirom.co.jp/en/. MEDIROM HEALTHCARE TECHNOLOGIES INC. 02 Important Notices Notices & Disclaimers

Financial Highlights FY2024 vs. FY2023 03 Cost of Revenues Increased by 15.1%, due to the increased number of salon purchase-back transactions, in which we repurchase salons from investors to whom we previously sold the salons. However, the CoR ratio to Revenue decreased from 77.0% to 72.9%. 01 Impairment Loss $0.1 million recorded in FY2024, due to the expected closure of a salon in 2025. 03 SG&A Increased by 14.3%, primarily due to an increase in professional fees, increase in allowance for doubtful accounts, increase in amortization of store operating rights, increase in directors’ salaries, and increase in recruiting expenses. 02 Net Income $0.9 million recorded primarily due to the gain from sales of salons recorded under other income and the release of the valuation allowance deferred tax asset. 04 Total Revenue Increased by 21.5% to $52.7 million due to an increase in sales of salons under the sale-and-outsource business model and store operation outsourcing revenue subsequent to the sales of salons.

Financial Highlights Financial Year 2024 04 Cash Flow from Operating Activities Negative $8.5 million, mainly due to a decrease in accrued expenses caused by payments of taxes or social security expenses for the previous years, reclassification of proceeds from sales of salons to net cash (used in) provided by investment activities. 01 Cash Flow from Investing Activities Positive $2.3 million, primarily due to the proceeds collected from the sales of salons.* The total amount of proceeds collected from the sales of salons for the year was approx. $5.8 million. 03 Cash Flow from Financing Activities Positive $7.6 million, primarily due to the proceeds from issuance of common stock in a public offering, proceeds from issuance of preferred stock in MML’s Series A financing round, and net increase of both short-term and long-term loans from banks. 02 Adjusted EBITDA Positive $2.6 million, increased from $1.9 million with Adjusted EBITDA margin of positive 5.0% compared with positive 4.5% in FY2023. 04 *Proceeds from sales of salons to investors, which became one of our key strategic initiatives beginning in Q4, 2021, was reclassified as Cash Flow from Investing Activities since the original source of the cash outflow was investments on fixed assets. However, the Company recognizes revenue from the sales based on ASC606 - revenue from contracts with customers. The Company believes the nature of the sales activity is operating activity because it is one of our primary businesses, regardless of accounting classification.

Consolidated Income Statement 05 2024(USD) 2024(JPY) 2023(JPY) 2022(JPY) Change from 2023 to 2024 Revenues: Relaxation Salon $47,317 ¥7,446,200 ¥6,059,851 ¥5,972,913 22.9% Luxury Beauty $4,444 ¥699,301 567,695 594,761 23.2% Digital Preventative Healthcare $976 ¥153,633 ¥200,397 ¥386,383 (23.3%) Total Revenue $52,736 ¥8,299,134 ¥6,827,943 ¥6,954,057 21.5% Cost of Revenues & Operating Expenses: Cost Of Revenues $38,463 ¥6,052,849 ¥5,259,075 ¥5,051,600 15.1% Selling, General And Administrative Expenses $14,244 ¥2,241,515 ¥1,960,447 ¥1,805,490 14.3% Impairment Loss On Long-lived Assets $145 ¥22,872 — — — Total Cost of Revenues & Operating Expenses $52,851 ¥8,317,236 ¥7,219,522 ¥6,857,090 15.2% Operating Income (Loss) ($115) (¥18,102) (¥391,579) ¥96,967 (95.4%) Net Income $878 ¥138,191 ¥115,049 ¥148,965 20.1% Adjusted EBITDA(2)(4) $2,653 ¥417,467 ¥306,324 ¥380,464 36.3% Adjusted EBITDA Margin(3)(4) 5.0% 5.0% 4.5% 5.5% 0.5% For the Year Ended December 31, (1) Convenience translations of Japanese yen into U.S. dollars have been made at the exchange rate of ¥157.37 = US$1.00, which was the foreign exchange rate on December 31, 2024 as reported by the Board of Governors of the Federal Reserve System. (www.federalreserve.gov/releases/h10/ ) (2) 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) impairment loss on long-lived assets and (ix) stock-based compensation expense. (3) Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA for a period by total revenue for the same period. (4) For a reconciliation of Adjusted EBITDA to net income, the most comparable U.S. GAAP measure, see the table on the following slide. (in Thousands)

Revenue Comparison by Revenue Stream 06 0 1000 2000 3000 4000 5000 6000 7000 8000 9000 Total Revenue Directly Operated Relaxation Salons Sale of Directly Owned Salons Franchise Fees Royalty Income Staffing Services Sublease Revenue Other Franchise Revenues Digital Preventative Healthcare Luxury Beauty Revenues 2023 2024 Millions JPY Directly-Operated Relaxation Salons Franchised Relaxation Salons Other Revenue Streams Total Breakdown Of Total Revenue By Stream

Reconciliation of Adjusted EBITDA 07 2024(USD) 2024(JPY) 2023(JPY) 2022(JPY) Net Income $878​ ¥138,191​ ¥115,049​ ¥148,965 Dividend Income and Interest Income － (10) (1,113) (6,074) Interest Expenses 316 49,745 36,868 9,800 Income Tax Expense (Benefit) (575) (90,478) (94,427) 30,809 Depreciation and Amortization 1,843 290,038 252,595 184,056 Losses on Disposal of Property and Equipment, net and Other Intangible Assets, net 45 7,109 (2,648) 12,908 Impairment Loss on Long-Lived Assets 145 22,872 － － Adjusted EBITDA(2) $2,653 ¥417,467 ¥306,324 ¥380,464 Adjusted EBITDA Margin(3) 5.0% 5.0% 4.5% 5.5% For the Year Ended December 31, (1) Convenience translations of Japanese yen into U.S. dollars have been made at the exchange rate of ¥157.37 = US$1.00, which was the foreign exchange rate on December 31, 2024 as reported by the Board of Governors of the Federal Reserve System. (www.federalreserve.gov/releases/h10/ ) (2) 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) impairment loss on long-lived assets and (ix) stock-based compensation expense. (3) Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA for a period by total revenue for the same period. (in Thousands)

Revenue Adjusted EBITDA 08 (1) Convenience translations of Japanese yen into U.S. dollars have been made at the exchange rate of ¥157.37 = US$1.00, which was the foreign exchange rate on December 31, 2024 as reported by the Board of Governors of the Federal Reserve System. (www.federalreserve.gov/releases/h10/ ) (2) 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) impairment loss on long-lived assets and (ix) stock-based compensation expense. (in Thousands) (in Thousands)

2023 (JPY, Millions) 2024 (JPY, Millions) Directly-Operated Salon COR 4,552​ 5,576​ Franchised Salon COR 523 317 Other COR 184 160 Total COR ¥5,259 ¥6,053 Cost of Revenue Comparison 09 77.0% 72.9%

SG&A Comparison by Use of Expenses 10 Payroll Expenses Directors’ compensation increased in 2024 as compared to 2023. Such expense increased at MEDIROM, and also some employees at subsidiaries were appointed as directors or added as directors in connection with the Company’s acquisition of a rehabilitation business, and so such persons’ compensation was classified as directors’ compensation from 2024. Professional Fees Professional fees paid for financial advisory, legal counsel, and expenses in connection with non-recurring transactions including M&A transactions (including potential acquisitions). Payments to other professionals including auditors, financial reporting consultants, and internal control consultants. Other SG&A Expenses Other SG&A mainly consists of bad debt expenses, recruiting and training expenses, rent expenses, and other miscellaneous expenses. Although there was an increase in Other SG&A, its ratio to total revenue dropped from 28.7% in 2023 to 27.0% in 2024. 01 02 03 0 500 1000 1500 2000 2500 Total SG&A Payroll Expenses Professional Fees Other SG&A Expenses 2023 2024 Millions JPY

Consolidated Balance Statement 11 As of December 31, 2024(USD) 2024(JPY) 2023(JPY) Assets Current Assets $17,196 ¥2,706,062 ¥1,758.704 Non -Current Assets $34,216 ¥5,384,609 ¥5,090,485 Total Assets $51,412 ¥8,090,671 ¥6,849,189 Liabilities: Current Liabilities $26,571 ¥4,181,481 ¥3,560,593 Non -Current Liabilities $17,291 ¥2,721,132 ¥3,072,635 Total Liabilities $43,862 ¥6,902,613 ¥6,633,228 Redeemable Noncontrolling Interest $1,272 ¥200,160 ― Shareholders’ Equity: Common Stock, No Par Value $2,240 ¥352,523 ¥19,900 Class A Common Stock, No Par Value $0 ¥100 ¥100 Treasury Stock ($19) ( ¥3,000) ( ¥3,000) Additional Paid -In Capital $2,253 ¥354,605 ¥113,602 Retained Earnings $1,455 ¥229,040 ¥80,277 Noncontrolling Interest $347 ¥54,630 ¥5,082 Total Shareholders’ Equity $6,278 ¥987,898 ¥215,961 Total Liabilities and Shareholders’ Equity $51,412 ¥8,090,671 ¥6,849,189 (1) Convenience translations of Japanese yen into U . S . dollars have been made at the exchange rate of ¥157 .37 = US $ 1 .00 , which was the foreign exchange rate on December 31 , 2024 as reported by the Board of Governors of the Federal Reserve System . (www .federalreserve .gov/releases/h10/) (in Thousands)

Consolidated Cashflow Statement 12 Years End December 31, 2024(USD) 2024(JPY) 2023(JPY) Net Income $878 ¥138,191 ¥115,049 Net Cash Used In Operating Activities ($8,462) (¥1,331,681) (¥631,737) Net Cash (Used In) Provided By Investing Activities $2,296 ¥361,393 (¥328,576) Net Cash Provided By Financing Activities $7,583 ¥1,193,340 ¥461,206 Net (Decrease) Increase Of Cash And Cash Equivalents During The Period $1,417 ¥223,052 (¥499,107) Cash And Cash Equivalents At Beginning Of Period $676 ¥106,347 ¥605,454 Cash And Cash Equivalents At End Of Period $2,093 ¥329,399 ¥106,347 (1) Convenience translations of Japanese yen into U.S. dollars have been made at the exchange rate of ¥157.37 = US$1.00, which was the foreign exchange rate on December 31, 2024 as reported by the Board of Governors of the Federal Reserve System. (www.federalreserve.gov/releases/h10/) (in Thousands)

MEDIROM HEALTHCARE TECHNOLOGIES INC. 76.3% repeat rate High repeat customer ratio Excluding aggregate of spa facilities 78K customers / month Average number of customers per month Served 945,395 customers in 2024 Focus on High Density Areas Retail metros/subways, malls, plazas Major cites (Tokyo, Nagoya, Osaka) Avg. $45.2(JPY7,111Yen)/customer in 2024 Avg. $43.5(JPY6,852Yen)/customer in 2023 308 Stores Total of directly managed, franchised and investor-owned salons Average beds per store Excluding aggregate of spa facilities Data as of December 2024 6.5 unit / store Wellness Salon Business Snapshot 13

Digital Preventative Healthcare Technology: MOTHER Bracelet® SELF-CHARGING FITNESS TRACKER “MOTHER BRACELET ” UNDER CO-DEVELOPMENT WITH MATRIX INDUSTRIES, INC. FEATURES • Steps • Sleep/Sleep Cycle • Heart rate • Activities • Surface Body Temperature • Security • Waterproof TARGET MARKET • Hospitals, Nursing Homes and Gyms • Logistics and Transportation Industry (Drivers’ Health Monitoring Needs) FEATURE-RICH & USER FRIENDLY • Pedometer • SDK (Software Development Kit) • Open to Third Parties MEDIROM HEALTHCARE TECHNOLOGIES INC. Innovative Fitness Tracker that does not Require Recharging TECHNOLOGY • MATRIX’s Patented Technologies • Thermoelectric Module & Boost Converter 14

Thank You! ir@medirom.co.jp www.medirom.co.jp/en/ir MEDIROM Healthcare Technologies Inc. 2-3-1, Daiba, Minato-ku, Tokyo, JAPAN 135-0091