MEDIROM Healthcare Technologies Inc. Announces New JPY350 Million (Approximately $2.4 Million*) Unsecured Loan Financing

MEDIROM Healthcare Technologies Inc. Announces New JPY350 Million (Approximately $2.4 Million*) Unsecured Loan Financing

Benzinga
March 17, 2025

TOKYO, March 17, 2025 (GLOBE NEWSWIRE) -- MEDIROM Healthcare Technologies Inc. (Nasdaq CM: MRM), a holistic healthcare company based in Japan (the "Company" or "MEDIROM"), today announced that it has obtained a new unsecured short-term bank loan in the amount of JPY350 million (approximately $2.4 million*). The Company has used JPY200 million of the loan funds for repayment of indebtedness of MEDIROM Mother Labs Inc., a subsidiary of the Company which is also a guarantor of the new loan, and the Company intends to use the remainder of the loan funds for general working capital, including Mother Bracelet development. The loan bears interest at a rate of 1.875% per year.

"This new loan financing strengthens our financial position, providing additional support for developing Mother Bracelet," said Koji Eguchi, Chief Executive Officer of MEDIROM.

*Convenience translations included in this press release of Japanese yen into U.S. dollars have been made at the exchange rate of JPY148.87 = US$1.00, which was the TTM exchange rate provided by Mizuno Bank on March 17, 2025.

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 ...

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