JPY 330 million in funds raised and an additional overseas capital raise planned, bringing total funding efforts to as much as JPY 600 million
MEDIROM Inc. (headquartered at: Minato-ku, Tokyo; Representative Director: Kouji Eguchi; hereinafter, the “Company”), which consistently supports sectors from health promotion to healthcare through its operation of relaxation salons and development of healthcare IT, has completed a financing of JPY 330 million through a third party allocation of new shares and other issuances, to investors including CCC Marketing Co., Ltd. The Company would like to announce that as a result of this capital raise, stated capital increased to JPY 441.2 million (including capital reserves) on December 30, 2016.
The Company carried out this fund-raising effort with eyes toward a planned initial public offering on the New York Stock Exchange. By February 2017, the Company is also expecting to receive additional capital investments overseas to bring the aggregate funds raised, including the funds raised in this round, to JPY 600 million.
With this increase in capital, the Company plans to further improve services, expand its business and move toward an expected IPO in the U.S. with a strengthened financial foundation, while also working towards creating a business which instills an even higher level of client trust.