MEDIROM Healthcare (MRM) IPO Opens 32% Higher

Today's IPO for MEDIROM Healthcare Technologies Inc. (NASDAQ: MRM) opened for trading at $19.80 after pricing its initial public offering of 800,000 American Depositary Shares (ADSs) at a price of US$15.00 per ADS.

Maxim Group LLC is acting as the sole book-running manager in connection with the offering.

MEDIROM operates 289 (as of June 30, 2020) relaxation salons across Japan centered around Re.Ra.Ku™, which aims to provide healthcare services. In 2015, MEDIROM entered the health tech business, and conducted specific health guidance and constitution improvement programs, On-demand training app “Lav™”. MEDIROM also entered the device business in 2020, and is developing a smart tracker “MOTHER Tracker™”. Currently, MEDIROM is continuing development work with the goal of commercializing the product. In the future, MEDIROM plans to expand the scope of our business to include data analysis based on the lifestyle data we have accumulated since our founding.

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