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TOKYO - MEDIROM Healthcare Technologies Inc. (NASDAQ:MRM), a $13.8 million market cap healthcare company that has seen its stock surge over 100% in the past six months, announced Friday it will participate in World, a proof of human protocol co-founded by Sam Altman and Alex Blania, by installing "Orb" authentication devices in approximately 100 of its Re.Ra.Ku relaxation salons. According to InvestingPro data, the company has demonstrated strong revenue growth of 21.5% over the last twelve months.
The healthcare company plans to provide access to verified World ID for up to 500,000 individuals through its salon network. Customers who verify their World ID will be eligible to claim approximately 8,000 Japanese yen worth of Worldcoin tokens (WLD). Trading at a P/E ratio of 8.8, MEDIROM appears attractively valued relative to its near-term earnings growth potential, though InvestingPro analysis reveals several additional valuation metrics and growth indicators.
MEDIROM also revealed plans to accept WLD as payment for "Re.Ra.Ku Tickets" gift certificates at its relaxation salons. The company intends to convert up to 50% of acquired WLD into Ethereum (ETH) cryptocurrency, while managing market risks according to its liquidity constraints.
The Re.Ra.Ku Group operates over 300 relaxation salons across Japan under various brands including "Re.Ra.Ku," "Spa Re.Ra.Ku," "Re.Ra.Ku PRO," "Bell Epoc," and "Ruam Ruam."
MEDIROM’s core business includes health guidance programs through its "Lav" healthcare app and physical wellness services at its relaxation salons. In 2020, the company expanded into devices with the release of the "MOTHER Bracelet" activity tracker.
This announcement represents MEDIROM’s entry into cryptocurrency holdings as part of its financial strategy, according to the company’s press release statement. InvestingPro data indicates the company operates with significant debt and faces cash burn challenges, factors investors should consider when evaluating this new crypto initiative.
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