The Golden Lounge

[SSP]

MRM 10.76 sleeping stock .... posting this info more as a personal reference:

Found this on mother tracker, decided to type in some extensions, and it came up:

https://medirom.co.jp/mother.html

Google translate:
https://translate.google.com/translate?sl=auto&tl=en&u=https://medirom.co.jp/mother.html


From last Quarterly:
We detail the primary business activities conducted by the Company during the fiscal year:

1 The number of our stores (Re.Ra.Ku® brand) as of the end of December, 2020 was 172, and the number of our group stores, including subsidiaries, was 290.
2 In response to the decline in sales caused by the temporary suspension of operations and shortened hours, we issued orders for approximately 70% of all group employees, including storefront and head office staff, to take a leave of absence. Despite this furlough, we successfully received government subsidies to maintain employment and pay salaries during the suspension period, negotiated with the owners of the properties we occupied to reduce the deficit during a suspension, postponed rent payments, and worked to recover customers after resuming operations. These actions helped stretch working capital and preserve cash flow during an otherwise precarious liquidity scenario.
3 To secure liquidity, the Company borrowed 775,000 thousand yen from financial institutions during the current fiscal year.
4 In the specific medical checkup and health guidance business using our self-developed application LAV®, we strengthened sales to health insurance associations (our contractors). We concluded outsourcing contracts with 23 health insurance associations as of the end of December 2020, supporting recurring revenue for the year ahead.
5 We continue progress in developing MOTHER®, a health tracker that does not require electric charging, including the development of a fully functional prototype.