01:44 PM EDT, 10/15/2024 (MT Newswires) -- Medirom Healthcare Technologies' ( MRM ) shares jumped 27% in recent trading Tuesday after the company said Elematec, a Toyota Tsusho group member, agreed to make an investment in its unit Medirom Mother Labs.

Elematec is participating in Medirom Mother Labs' series A round with pre-money valuation at 9 billion yen ($60 million), Medirom Healthcare ( MRM ) said.

Medirom will also be able to leverage Elematec's parts procurement and manufacturing services and its network of business partners.

Price: 3.35, Change: +0.71, Percent Change: +26.93