Full Press Release Details
MEDIROM Healthcare Technologies
Announces the Company's
Request for an Extension until May 19, 2023, to Demonstrate Compliance Has Been Granted By NASDAQ
New York/May 1, 2023 - MEDIROM Healthcare
Technologies Inc. (NasdaqCM: MRM), a holistic healthcare company based in Japan ("MEDIROM" or the "Company"),
today announced that on April 28, 2023, it received a written notice from the Nasdaq Hearing Panel (the "Panel") granting
the Company's request for an extension until May 19, 2023 to demonstrate compliance with the net income standard in its Annual
Report on Form 20-F for fiscal year ended December 31, 2022, which the Company intends to file with the U.S. Securities and Exchange
Commission (the "SEC") on or before May 19, 2023. For more information regarding the Company's compliance with Nasdaq's
continued listing standards, please see the press release of the Company dated March 16, 2023, a copy of which was furnished as Exhibit
99.1 to a report on form 6-K filed by the Company with the SEC on March, 16, 2023.
About MEDIROM Healthcare Technologies Inc.
MEDIROM, a holistic healthcare company, operates
311 (as of March 31, 2023) 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 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 ". MEDIROM hopes that its diverse health related services and products offering
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.
All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking
statements, including, but not limited to, statements regarding the Company's belief that it will meet the net income standard
set forth in Nasdaq Listing Rule 5550(b)(3).
The Company's actual results and the timing
of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties,
including the risk that the Company may not timely file its Annual Report on Form 20-F for the year ended December 31, 2022, the risk
that the Company may not otherwise timely evidence its compliance with the applicable Nasdaq listing requirement for continued listing,
or at all, and the risk that Nasdaq may not ultimately grant the Company relief from delisting, among other risks and uncertainties.
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 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. The Company assumes no obligation to publicly 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.
Investor Relations Team