MRM....up large from NR on Friday close Capital and Business Alliance Formed Between MEDIROM MOTHER Labs and NFES Technologies
2024-08-23 18:13 ET - News Release
TOKYO, Aug. 23, 2024 (GLOBE NEWSWIRE) -- MEDIROM Healthcare Technologies Inc. (Headquarters: Minato-ku, Tokyo; CEO: Koji Eguchi; listed on Nasdaq, NASDAQ: MRM; hereinafter “MEDIROM”) announces that its subsidiary MEDIROM MOTHER Labs Inc. (Headquarters: Minato-ku, Tokyo; CEO: Yoshio Uekusa; hereinafter “MOTHER Labs”), has formed a capital and business alliance with NFES Technologies Inc. (Headquarters: Matsue City, Shimane Prefecture; CEO: Keita Adachi; hereinafter “NFES Group”), a subsidiary of NFES Inc. (Headquarters: Matsue City, Shimane Prefecture; CEO: Keita Adachi).
As part of this alliance, NFES Group has agreed to participate as the lead investor in MOTHER Labs’ Series A financing round, which values MOTHER Labs at 9 billion yen on a pre-money basis. The Series A shares will be issued to NFES Group as a third-party allotment.
Background of the Capital and Business Alliance
The NFES Group is committed to creating a world where individuals can passionately pursue what they love. They resonate with MOTHER Labs’ dedication to global challenges as a Japanese company and the concept behind the MOTHER Bracelet, a recharge-free smart tracker designed to monitor people’s health. This shared vision led to the capital and business alliance, with the aim of collaborating with MOTHER Labs to promote the MOTHER Bracelet and support the health of people worldwide.
Future Initiatives
We have concluded a distributorship agreement for MOTHER Bracelet, the recharge-free smart tracker developed by the MEDIROM group, and MOTHER Gateway, MEDIROM’s telecommunication device which exclusively enables data generated by MOTHER Bracelet to be sent to our proprietarily developed remote monitoring system, and will introduce these products to companies in the nursing care, transportation, and manufacturing industries and promote their introduction through collaborations with financial institutions and sales partners allied with NFES Group.
In addition, MOTHER Labs will also collaborate with Hyakkaten.com (a regional department store e-commerce mall operated by NFES Group) to conduct general sales through department stores and e-commerce sites nationwide.