Summary by Moomoo AI
MEDIROM MOTHER Labs Inc. (MML), a subsidiary of MEDIROM Healthcare Technologies, has entered into a capital and business alliance agreement with Elematec Corporation on October 15, 2024. Elematec will invest JPY100.08 million by purchasing 556 series A preferred shares at JPY180,000 per share, valuing MML at JPY9 billion pre-money.Under the agreement, Elematec will become the exclusive outsourcing partner for procurement and manufacturing of MML's recharge-free wearable devices, including the MOTHER Bracelet 2.0 and MOTHER Gateway. Elematec will also gain non-exclusive sales rights for MOTHER Bracelets and first-offer rights for future generation devices.The agreement includes provisions for share repurchase at the higher of the original price or fair value if terminated. The deal's closing is subject to conditions including satisfactory intellectual property reports. MML's CEO Kouji Eguchi and Representative Director Yoshio Uekusa have committed to dedicated involvement and non-compete obligations for the business.
