Medirom Healthcare Technologies' ADRs Surge Following Investment from M3

Dow Jones

Dec 07, 2024

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)

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