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TOKYO, Dec. 13, 2024 (GLOBE NEWSWIRE) -- MEDIROM Healthcare Technologies Inc. (NASDAQ: MRM) announces that its subsidiary MEDIROM MOTHER Labs Inc. raised to date an aggregate total of 260.3 million yen (approximtaely USD $ [1.7] million calculated at an exchange rate of JPY[153.64] to US$1) at a pre-money equity valuation of JPY9 billion (approximately USD $ [58.6] million calculated at an exchange rate of JPY[153.64] to US$1) in its Series A equity financing. NFES Technologies Inc. is the lead investor in the financing round, and several public companies in Japan, including M3, Inc. (TOKYO PRIME: 2413) and Elematec Corporation (TOKYO PRIME: 2715), as well as certain individual investors are also participating. The Series A equity financing round is still ongoing. MEDIROM MOTHER Labs has closed financings with six investors to date and intends to conclude the financing round by December 31, 2024. “We are very excited that our MEDIROM MOTHER Labs subsidiary has received such significant validation from strategic partners as our lead investor NFES Technologies Inc. as well as M3,Inc and Elematec Corporation. The pre money valuation of 9 billion yen is approximately multiples of MEDIROM’s current NASDAQ listing market capitalization which I believe further validates our technology, business model and growth potential.” said Kouji. The MOTHER Bracelet® is currently in commercialization. From July 1, 2024 through October 31, 2024, MEDIROM MOTHER Labs received purchase orders for an aggregate of over 25,000 units from its B2B sales channel. “We believe the MOTHER Bracelet® to be the world’s first fitness tracker that requires no electric charging by utilizing an innovative technology that enables the user’s body heat to generate electricity. We co-developed it with Matrix Industries, based in Silicon Valley and believe its features are cutting-edge technology with rich features and ease of use to track fitness levels, sleep patterns, pulse and body temperature We will continue to target markets such as hospitals, nursing homes and gyms, where such data is vital,” said Yoshio Uekusa, CEO of MEDIROM MOTHER Labs. ABOUT MEDIROM MOTHER Labs Inc. A subsidiary of MEDIROM Healthcare Technologies Inc. (NASDAQ: MRM) (“MEDIROM”), MEDIROM Mother Labs Inc. focuses on the health-tech sector. The company’s core activities include the "Specific Health Guidance Program" offered through the "Lav" health application and development and sales of the 24/7 recharge-free MOTHER Bracelet®︎ smart tracker. By leveraging the features of the recharge-free MOTHER Bracelet®︎, MOTHER Labs offers customizable health management solutions across diverse sectors, including caregiving, logistics, manufacturing, and similar industries. Forward-Looking Statements Regarding MEDIROM and MOTHER Labs 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 MEDIROM’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 MEDIROM’s future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause MEDIROM’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. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond MEDIROM’s control and which could, and likely will, affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects MEDIROM’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to MEDIROM’s operations, results of operations, growth strategy and liquidity. Some of the factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements in this press release include: More information on these risks and other potential factors that could affect MEDIROM’s business, reputation, results of operations, financial condition, and stock price is included in MEDIROM’s filings with the Securities and Exchange Commission (the “SEC”), including in the “Risk Factors” and “Operating and Financial Review and Prospects” sections of MEDIROM’s most recently filed periodic report on Form 20-F and subsequent filings, which are available on the SEC website at www.sec.gov . MEDIROM assumes no obligation to 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. MEDIROM Healthcare Technologies Inc. NASDAQ Symbol: MRM Tradepia Odaiba, 2-3-1 Daiba, Minato-ku, Tokyo, Japan Web https://medirom.co.jp/en Contact: ir@medirom.co.jp MEDIROM MOTHER Labs Inc. Tradepia Odaiba, 2-3-1 Daiba, Minato-ku, Tokyo, Japan For more information visit: https://mother-bracelet.com
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Kamala Harris could count on winning California’s 54 electoral college votes as she campaigned for president, and the state’s voters delivered. In fact, California’s electoral votes were almost a quarter of the 226 she won nationwide, 44 short of what she needed to defeat Donald Trump. Simultaneously, however, Harris’s party fell short of regaining control of the House of Representatives, thanks in part to failing to flip as many seats in California as party leaders, such as Speaker Emerita Nancy Pelosi, had hoped. Those outcomes illustrate the powerful role that the nation’s most populous state plays in determining who controls the federal government. Looking ahead, however, California’s clout in both presidential and congressional elections — and therefore in the rooms where post-election policy decisions are made — is shrinking. It’s a stark reminder of the old adage that demography drives destiny. California experienced strong population growth for the first 150 years of the state’s existence, largely due to migration from other states and nations and a high birthrate. The state’s decades-long expansion reached a high point in the 1980s when its population exploded by more than 25%, from 23.8 million to 30 million, due to strong foreign immigration and a new baby boom. There was a newborn every minute. The decade’s population growth granted it seven new congressional seats after the 1990 census, increasing from 45 to 52. In 1992, Bill Clinton claimed the state’s 54 electoral votes, becoming only the fourth Democrat to win the state in the 20th century. Democratic nominees have continued to win California’s electoral votes in every presidential election since, but they could no longer count on a new harvest every decade. Population growth began to slow in the late 1990s, thanks largely to out-migration of Southern California aerospace workers and their families as defense spending dried up after the breakup of the Soviet Union. It gained one seat after the 2000 census, but population growth stagnated during the 2010 decade, with a net increase of 2.4 million, just 10% of what occurred in the 1980s. The state lost a congressional seat after the 2020 census, so California now has 52 districts. The COVID-19 pandemic and other factors, such as a declining birthrate and increasing death rate, have led to population stagnation since then. “California lost 433,000 people between July 2020 and July 2023,” the Public Policy Institute of California calculated. “Most of the loss occurred during the first year of the pandemic and was driven by a sharp rise in residents moving to other states. But fewer births, higher deaths and lower international migration also played a role.” Related Articles Opinion Columnists | Here’s to hoping Trump delivers on some of his Libertarian promises Opinion Columnists | Grand DOGE promises of massive cuts to the federal government are unlikely to materialize Opinion Columnists | Republican populism goes all in for the Nanny State Opinion Columnists | After botched Gaetz nomination, Trump should pivot on Cabinet picks Opinion Columnists | $165 billion revenue error continues to haunt California’s budget That’s where we are now: roughly 39 million, a bit under the 2020 census number. But the future looks like slow growth at best, which means the state will likely lose four or more congressional seats, and therefore electoral votes, after the 2030 census. A 2023 analysis by the liberal Brennan Center estimated that California will lose four seats, while the conservative American Redistricting Project pegged the likely loss at five seats. It’s a major chunk of a wider shift of population, congressional seats and electoral votes from blue states — New York will also be a big loser — to red states such as Texas and Florida, whose economies are growing smartly and where housing is affordable. By either 2030 projection, were the 2032 Democratic nominee for president to carry the same states that Harris did this year, he or she would win 12 fewer electoral votes. Demography is destiny. Dan Walters is a CalMatters columnist.