Medirom Healthcare Technologies' ADRs Surge Following Investment from M3

Dow Jones

2024-12-07

By Connor Hart

American depositary receipts of Medirom Healthcare Technologies more than doubled after the bell on the disclosure that Tokyo-based venture company M3 is the lead investor of the company's Series A financing round.

ADRs surged 107%, to $6.31, in postmarket trading Friday. Shares ended the regular session 0.3% lower, to $3.07, putting them down 47% since the beginning of the year.

The provider of holistic health services in Japan said M3's pre-money valuation is 9 billion yen ($60 million).

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

December 06, 2024 17:43 ET (22:43 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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