TOKYO, June 25, 2024 (GLOBE NEWSWIRE) --  MEDIROM Healthcare Technologies Inc. (NASDAQ:MRM) ("Medirom" or the "Company"), a holistic healthcare company based in Japan, announced it filed its Annual Report on Form 20-F for the year ended December 31, 2023 with the U.S. Securities and Exchange Commission ("SEC"), including consolidated financial statements prepared in accordance with U.S. generally accepted accounting principles ("GAAP"), on June 18, 2024. Kouji Eguchi, Chief Executive Officer of the Company, stated, "I am very pleased to announce that during a period of significant investment and development in our healthcare technology systems and products in FY 2023 and FY 2022, as well as recovering in a post-pandemic environment, we generated net profit and positive adjusted EBITDA for two consecutive years. The profitability of our directly-operated wellness salons, sales of 30 wellness salons, and growth of our digital wellness healthcare technology app, Lav, primarily led to the net profit and adjusted EBITDA in 2023. We believe remaining a profitable company while developing and beginning to commercialize our healthcare technology is a significant milestone for Medirom. In 2023, we focused on further developing our digital wellness healthtech products and services with the launch of full scale operations of the REMONY Monitoring System. We continue to work to expand our B2B sales by selling our healthtech systems and products as a health data central management platform across the MOTHER Bracelet, MOTHER Gateway, and REMONY Monitoring System." Summary of Consolidated Financial Results for 2023 The following is a comparison of certain of our operating results for the years ended December 31, 2023 and December 31, 2022.                                     (in thousands, except change % data and Adjusted EBITDA margin)      Year ended December 31,      Change (2023 vs 2022) Consolidated Statement of Operations:   2023($)      2023(¥)      2022(¥)   $        ¥      % Revenues:                                   Relaxation Salon   $ 43,002   ¥ 6,059,851   ¥ 5,972,913   $ 617   ¥ 86,938   1.5 Luxury Beauty     4,029     567,695     594,761     -193   ¥ -27,066   -4.6 Digital Preventative Healthcare     1,422     200,397     386,383     -1,320   ¥ -185,986   -48.1 Total revenue     48,453     6,827,943     6,954,057     -895   ¥ -126,114   -1.8 Cost of revenues and operating expenses:                                   Cost of revenues     37,320     5,259,075     5,051,600     1,472   ¥ 207,475   4.1 Selling, general and administrative expenses     13,912     1,960,447     1,805,490     1,100   ¥ 154,957   8.6 Total cost of revenues and operating expenses     51,232     7,219,522     6,857,090     2,572   ¥ 362,432   5.3 Operating income (loss)   $ -2,779   ¥ -391,579   ¥ 96,967   $