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MEDIROM Healthcare Technologies (MRM) stock Outperforms as it reports stellar Key Performance Indicators (KPIs)

MEDIROM Healthcare (MRM) shares jumped from $7.39 to $12.80 on September 23, 2021. MRM stock continues to outperform as the company announced encouraging major Key Performance Indicators (KPIs). 

The holistic healthcare company has shared its Key Performance Indicators for August 2021. The investors were jubilated to see such stunning results as MEDIROM Healthcare (MRM) shares soared over 100% in the pre-market.

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MEDIROM’s updated data from the KPIs are selected from all salons for which comparative financial and customer data is available. The company excluded certain salons whose information wasn’t available or enough to extract the data for KPIs.

The company operates around 315 relaxation salons across Japan. Re.Ra.Ku™ is the leading brand of MEDIROM and provides healthcare services to its customers. MRM stock has really advanced in the holistic healthcare business and has successfully expanded its business via a training app called “Lav™”.

In 2020, the company started a device business and is working on the development of a smart tracker “MOTHER Tracker™”. MEDIROM intends to expand the stature of its business to include data analysis utilizing the data it has collected since the formation of the company.

The outcomes from the KPIs show that the number of total salons has increased from 284 to 315 in August 2021 from last year. This is primarily the impact of the acquisition of a brand in May 2021. The number of customers served in August 2021 was stationary compared to August 2020 – around 66,323.

MEDIROM promising growth resulted in higher sales in August 2021. The sales per customer soared to JPY 6,592 ($60) from JPY 6,351 ($57) in August 2020. The results show consistency and the company is growing with adding more value to its services.

In addition, MEDIROM Healthcare (MRM) has announced an acquisition of ZACC Kabushiki Kaisha. ZACC is a Japanese hair salon operator of the “ZACC” brand. MRM has agreed upon a share transfer agreement with all the shareholders of ZACC.

MEDIROM will acquire ZACC in a two-stage acquisition for total consideration of 370,000,000 Japanese yen ($3,362,108.13). This deal will add three luxury hair salon brands to MEDIROM network which are owned by ZACC. ZACC’s salon brands have been in the market for years now and are renowned for their high level of techniques and hospitality.

MEDIROM is keen to continue with the expansion and acquire more assets for the growth of its business. Moreover, MEDIROM Healthcare (MRM) plans to open new ZACC brand salons by sharing the Company’s expertise in franchising and other popular programs.

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