Note The Company assumes no responsibility for this translation or for direct, indirect or any other forms of damages arising from the translation. This document has been translated from the Japanese original for referen

of the 21st Ordinary General Meeting of Shareholders to be held on March 29, 2021

inform you that the 21st Ordinary General Meeting of Shareholders of MEDIROM Healthcare Technologies Inc. (the "Company")

will be held at the Head Office of the Company (16F, Tradepia Odaiba, 2-3-1 Daiba, Minato-ku, Tokyo, Japan) on Monday, March

29, 2021 at 9:00 a.m., Japan Standard Time, for the purposes listed below. You are cordially requested to avoid attending the

meeting to the extent possible this year to prevent the spread of the novel coronavirus disease (COVID-19) and to exercise your

voting rights by mail or by instructing the depositary to vote the common shares on your behalf prior to the meeting (in writing).

Therefore, please review the attached Reference Documents for General Meeting of Shareholders, and kindly exercise your voting

rights prior to 6:00 p.m., Japan Standard Time, on Sunday, March 28, 2021.

Business Report and the Non-Consolidated (Audited) Financial Statements for the 21st fiscal year (from January 1, 2020 to December

31, 2020), which financial statements were based upon our statutory financial results as prepared in accordance with Japanese

GAAP. These results may differ in material respects from the audited consolidated financial results under U.S. GAAP that will

be reported at a later date and included in our Annual Report on Form 20-F, which will be filed with the U.S. Securities and Exchange

Commission (SEC) and will be available at www.sec.gov. The discussion of the Japanese GAAP is presented to our shareholders and

ADS holders solely in accordance with requirements under the Japanese Companies Act in connection with our Annual Meeting.

1: To amend the Articles of Incorporation (Addition of the Business Purpose)

2: To amend the Articles of Incorporation (Changing the Authorized Capital)

3: To elect five (5) Directors

Board of Directors unanimously recommends that the stockholders or ADS holders vote "FOR" each of the proposals

outline of the agenda is as described in the following "Reference Materials Concerning Solicitation of Proxy Voting Rights".

Documents for Solicitation of Proxy Voting Rights

Solicitor for the Exercise of Proxy Voting Rights

Eguchi, President and CEO

Proposals and Reference Information

1: To amend the Articles of Incorporation (Addition of the Business Purpose)

order to prepare for the development of new businesses utilizing the Company's strengths and the future business expansion, we

will add a new business purpose to Article 2.

underlined parts indicate changes.

Board Recommendation

Board of Directors unanimously recommends that you vote "FOR" this proposal.

2: To amend the Articles of Incorporation (Changing the Authorized Capital)

total number of authorized shares of the Company is 10,000,000 shares (consisting of 9,999,999 common shares and one (1) Class

A common share). As a result of the initial public offering of our ADSs (the "IPO") and the listing thereof on the

Nasdaq Capital Market, including the issuance of new common shares due to exercise of over-allotment option in connection with

the IPO, the total number of outstanding shares as of January 31, 2021 was 4,975,001 (consisting of 4,975,000 common shares and

one (1) Class A common share). In light of the fact that the total number of issued shares has reached approximately 50% of the

total number of authorized shares, we desire to increase the total number of authorized shares in order to enable future business

expansion and the implementation of a flexible capital policy.

details of the amendment are as follows. The amendments to the Articles of Incorporation in this proposal shall become effective

at the conclusion of this General Meeting of Shareholders.

underlined parts indicate changes.

Board Recommendation

Board of Directors unanimously recommends that you vote "FOR" this proposal.

3: To elect five (5) Directors

terms of office of all five (5) Directors will expire at the conclusion of this Ordinary General Meeting of Shareholders. Accordingly,

we are seeking to elect five (5) Directors, including two (2) Outside Directors. The nominees for Directors are as described below.

There is no special interest between each candidate and the Company.

The Company has obtained the consent of each candidate to assume the office, subject to the approval of this agenda.

Board Recommendation

Board of Directors unanimously recommends that you vote "FOR" this proposal.

Year 2020 Business Report

January 1 to December 31, 2020

information contained herein includes forward-looking statements. These statements relate to future events or to our future financial

performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of

activity, performance, or achievements to be materially 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 since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control

and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking

statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and

assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly

update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially

from those anticipated in these forward-looking statements, even if new information becomes available in the future. The safe

harbor for forward-looking statements contained in the Securities Litigation Reform Act of 1995 (the "Act") protects

companies from liability for their forward-looking statements if they comply with the requirements of the Act.

Business Progress and Activities

the current fiscal year (January 1, 2020 to December 31, 2020), the outlook for the Japanese economy remained uncertain due to

sluggish economic activity caused by the spread of the new coronavirus and the resulting declaration of a state of emergency,

as well as the subsequent recovery and re-emergence of the infection.

relaxation industries have been affected by the government mandated shutdown and consumer uncertainty amidst the novel coronavirus

outbreak. Many retail companies are facing significant decreases in sales as customer apprehension reduces store visits and subsequent

the start of the emergency declaration announced on April 7, 2020, many of the commercial facilities with which we partner for

our retail operations have decided to close storefront operations and leasing, resulting in the halting of operations for many

of our directly owned and franchised salons.

response, we announced on April 21, 2020 that most of our salons across the country would temporarily suspend operations until

May 6, 2020. Subsequently, after the emergency declaration was lifted on May 25, 2020, our salons gradually resumed operations,

and by September 2020, substantially all of our salons had resumed operations.

such strong market headwinds against a volatile business environment, we successfully achieved our planned initial public offering

("IPO") and listed our common shares in the form of American Depositary Shares on the Nasdaq Capital Market in the

United States on December 29, 2020. We raised 1,168,626 thousand yen in the offering, which provide an equity infusion that both

shored up our balance sheet and provided working capital to fuel growth in our business as we continue to rebound in 2021.

detail the primary business activities conducted by the Company during the fiscal year:

Results Under J-GAAP

a result, the Company posted net sales of 1,416,109 thousand yen ($13,494 thousand) resulting in a decrease of 332,885 thousand

yen ($3,172 thousand) year-on-year, and operating loss of 588,726 thousand yen ($5,610 thousand) resulting in a decrease of 602,793

thousand yen ($5,744 thousand) year on year. The Company posted ordinary loss of 949,541 thousand yen ($9,048 thousand) resulting

in a decrease of 903,877 thousand yen ($8,613 thousand) from the previous year. The Company posted a net loss of 1,079,651 thousand

yen ($10,288 thousand), resulting in a decrease of 769,493 thousand yen ($7,332 thousand) from the previous fiscal year (non-consolidated).

the future, the Company intends to use the proceeds raised through the IPO to rebuild existing stores' ability to attract customers

and the customer base that has been impacted by the spread of the new coronavirus infection. We also intend to use the proceeds

for business expansion, including continuous store development for further growth, category expansions into adjacent retail business

lines including hot spring bath facilities, a realization of economies of scale through the acquisition of other companies in

the same industry, and bolstering the technology and infrastructure behind our healthtech businesses. Simultaneously, we expect

to promote business efficiency by building and maintaining internal control systems and revamping core business systems, aiming

for a quick recovery in profitability and further improvement of business performance.

total amount of capital investment made during the current fiscal year was 228,712 thousand yen ($2,179 thousand). This capital

expenditure consists of 1) 67,795 thousand yen ($646 thousand) for the new office interior construction and purchase of assets