2023 Q4 - Annual Report

TableofContents UNITEDSTATES SECURITIESANDEXCHANGECOMMISSION Washington,D.C.20549FORM20-F ☐REGISTRATIONSTATEMENTPURSUANTTOSECTION12(b)OR(g)OFTHESECURITIES EXCHANGEACTOF1934 OR oANNUALREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934 ForthefiscalyearendedDecember31,2023OR ☐TRANSITIONREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934 OR ☐SHELLCOMPANYREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934 Commissionfilenumber001-39809 MEDIROMHEALTHCARETECHNOLOGIESINC. (Exactnameofregistrantasspecifiedinitscharter) Japan (Jurisdictionofincorporationororganization) 2-3-1Daiba,Minato-ku Tokyo135-0091,Japan(Addressofprincipalexecutiveoffices) FumitoshiFujiwaraChiefFinancialOfficer Telephone:+81-(0)3-6721-7364 Email:ir@medirom.co.jp2-3-1Daiba,Minato-ku, Tokyo135-0091,Japan (Name,Telephone,E-mailand/orFacsimileNumberandAddressofCompanyContactPerson) SecuritiesregisteredpursuanttoSection12(b)oftheAct: TitleofeachclassTradingSymbolNameofeachexchangeonwhichregistered AmericanDepositaryShares,eachrepresentingonecommonshare MRMTheNasdaqStockMarketLLC CommonShares,noparvalue*TheNasdaqStockMarketLLC *Notfortrading,butonlyinconnectionwiththelistingoftheAmericanDepositarySharesonTheNasdaqStockMarketLLC. SecuritiesregisteredpursuanttoSection12(g)oftheAct:None SecuritiesforwhichthereisareportingobligationpursuanttoSection15(d)oftheAct:None Indicatethenumberofoutstandingsharesofeachoftheissuer'sclassesofcapitalorcommonstockasofthecloseoftheperiodcoveredbytheannualreport:4,882,500CommonShares Indicatebycheckmarkiftheregistrantisawell-knownseasonedissuer,asdefinedinRule405oftheSecuritiesAct. Yes☐No☒ TableofContents Ifthisreportisanannualortransitionreport,indicatebycheckmarkiftheregistrantisnotrequiredtofilereportspursuanttoSection13orSection15(d)oftheSecuritiesExchangeActof1934. Yes☐No☒ Indicatebycheckmarkwhethertheregistrant(1)hasfiledallreportsrequiredtobefiledbySection13or15(d)oftheSecuritiesExchangeActof1934duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtofilesuchreports),and(2)hasbeensubjecttosuchfilingrequirementsforthepast90days. Yes☒No☐ IndicatebycheckmarkwhethertheregistranthassubmittedelectronicallyeveryInteractiveDataFilerequiredtobesubmittedandpostedpursuanttoRule405ofRegulationS-T(§232.405ofthischapter)duringthepreceding 12months(orforsuchshorterperiodthattheregistrantwasrequiredtosubmitandpostsuchfiles). Yes☒No☐ Indicatebycheckmarkwhethertheregistrantisalargeacceleratedfiler,anacceleratedfiler,anon-acceleratedfiler,oranemerginggrowthcompany.Seethedefinitionsof"largeacceleratedfiler,""acceleratedfiler"and"emerginggrowthcompany"inRule12b-2oftheExchangeAct. Largeacceleratedfiler☐Acceleratedfiler☐Non-acceleratedfiler☒Emerginggrowthcompany☒ IfanemerginggrowthcompanythatpreparesitsfinancialstatementsinaccordancewithU.S.GAAP,indicatebycheckmarkiftheregistranthaselectednottousetheextendedtransitionperiodforcomplyingwithanyneworrevisedfinancialaccountingstandards†providedpursuanttoSection13(a)oftheExchangeAct.☐ †Theterm“neworrevisedfinancialaccountingstandard”referstoanyupdateissuedbytheFinancialAccountingStandardsBoardtoitsAccountingStandardsCodificationafterApril5,2012. Indicatebycheckmarkwhethertheregistranthasfiledareportonandattestationtoitsmanagement’sassessmentoftheeffectivenessofitsinternalcontroloverfinancialreportingunderSection404(b)oftheSarbanes-OxleyAct(15 U.S.C.7262(b))bytheregisteredpublicaccountingfirmthatpreparedorissueditsauditreport.☐ IfsecuritiesareregisteredpursuanttoSection12(b)oftheAct,indicatebycheckmarkwhetherthefinancialstatementsoftheregistrantincludedinthefilingreflectthecorrectionofanerrortopreviouslyissuedfinancialstatements.☐ Indicatebycheckmarkwhetheranyofthoseerrorcorrectionsarerestatementsthatrequiredarecoveryanalysisofincentivebasedcompensationreceivedbyanyoftheregistrant’sexecutiveofficersduringtherelevantrecoveryperiodpursuantto§240.10D-1(b).☐ Indicatebycheckmarkwhichbasisofaccountingtheregistranthasusedtopreparethefinancialstatementsincludedinthisfiling: U.S.GAAP☒InternationalFinancialReportingStandardsasissuedbytheInternationalAccountingStandardsBoard ☐Other☐ If“Other”hasbeencheckedinresponsetothepreviousquestion,indicatebycheckmarkwhichfinancialstatementitemtheregistranthaselectedtofollow. ☐Item17☐Item18 Ifthisisanannualreport,indicatebycheckmarkwhethertheregistrantisashellcompany(asdefinedinRule12b-2oftheAct). Yes☐No☒ (APPLICABLEONLYTOISSUERSINVOLVEDINBANKRUPTCYPROCEEDINGSDURINGTHEPASTFIVEYEARS) IndicatebycheckmarkwhethertheregistranthasfiledalldocumentsandreportsrequiredtobefiledbySections12,13or15(d)oftheSecuritiesExchangeActof1934subsequenttothedistributionofsecuritiesunderaplanconfirmedbyacourt. Yes☐No☐ TableofContents TABLEOFCONTENTS CAUTIONARYNOTEREGARDINGFORWARD-LOOKINGSTATEMENTS1 PARTI.2 ITEM1.IDENTITYOFDIRECTORS,SENIORMANAGEMENTANDADVISERS2 ITEM2.OFFERSTATISTICSANDEXPECTEDTIMETABLE2 ITEM3.KEYINFORMATION2 ITEM4.INFORMATIONONTHECOMPANY34 ITEM4.A.UNRESOLVEDSTAFFCOMMENTS60 ITEM5.OPERATINGANDFINANCIALREV