Medirom Healthcare Technologies Inc.

MEDIROM Healthcare Technologies Inc. is a joint-stock corporation incorporated in Japan that operates relaxation salons and provides related services. The company was originally incorporated in Japan on July 13, 2000, as "Kabushiki Kaisha Young Leaves," later changing its name to "ReRaKu Inc." in November 2001, "MEDIROM Inc." in January 2017, and its English name to "MEDIROM Healthcare Technologies Inc." in March 2020. In December 2020, the company listed its ADSs representing common shares on The Nasdaq Capital Market. MEDIROM Healthcare Technologies Inc. has grown its business through both organic development of its branded relaxation salons, primarily Re.Ra.Ku salons, and through acquisitions. On April 17, 2018, the company established Bell Epoc Wellness Inc. (BEW). On May 28, 2018, 46 relaxation salons operating under the "Bell Epoc" brand were transferred from Kabushiki Kaisha Bell Epoc to BEW for cash. Kabushiki Kaisha Bell Epoc continues to manage these salons, with BEW paying operation fees based on revenue. On April 20, 2018, the company formed JOYHANDS WELLNESS Inc. (JW) to acquire the relaxation business from Kabushiki Kaisha Joyhands, which provided relaxation services to customers of spa facilities through outsource agreements. JW has since taken over these agreements. On April 27, 2018, the company established Medirom Human Resources Inc. (MHR), also known as Re.Ra.Ku Wellness Inc., which operates its therapist dispatch business.