Overview
Retail Trade

Verite Co.,Ltd.

Verite Co., Ltd. is a Japanese specialty jewelry retailer engaged in the retail and wholesale of jewelry and related products. The company operates multiple store brands including its core 'Verite' format, as well as specialty concepts such as 'MiMiKaZaRi' (pierced earring specialty), 'Maharaja Diamond' (diamond specialty), and 'Velicia' (shop-in-shop format), primarily through department stores, station buildings, and shopping centers across Japan. The company leverages a vertically integrated supply chain combining centralized procurement, in-house jewelry workshops, and e-commerce operations.

Market Cap
¥5.73B
US$36.5M
EV
¥5.11B
US$32.6M
Stock¥211▼-2.31%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
5.5
x
LTM EV/EBIT
6.3
x
LTM PER
14.0
x
LTM PBR
1.3
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-65.0%pt
100
Oct 24, 25 – Oct 23, 26StockTOPIX
MC → EV Bridge
5.73BUS$36.5MMarket Cap2.20BUS$14.0M+ Debt2.81BUS$17.9M− Cash0.00BUS$0.00M− Inv. Sec.5.11BUS$32.6MEV
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Performance & Balance
Revenue 5Y (¥B)
7.27US$46.4M'22/37.62US$48.6M'23/37.64US$48.7M'24/37.95US$50.7M'25/39.44US$60.2M'26/3
EBITDA 5Y (¥B)
0.87US$5.53M'22/31.03US$6.55M'23/30.97US$6.20M'24/30.99US$6.33M'25/30.82US$5.20M'26/3
Net Income 5Y (¥B)
0.46US$2.96M'22/30.55US$3.48M'23/30.50US$3.20M'24/30.57US$3.63M'25/30.32US$2.05M'26/3
Capital Structure
66%
34%
EquityD/E 0.52xDebt
Liquidity vs Debt 5Y (¥B)▲ Net Cash
CashInv. Sec.Debt
2.19US$14.0M1.50US$9.57M'22/31.92US$12.2M1.00US$6.38M'23/32.19US$14.0M1.50US$9.57M'24/31.99US$12.7M1.50US$9.57M'25/33.07US$19.6M2.20US$14.0M'26/3
Shareholders
Top 10 hold 57.6%
1
SENKO Group Holdings Co.,Ltd.
50.18%
2
JPMorgan Securities Japan Co., Ltd.
1.53%
3
OA Co., Ltd.
1.26%
4
Hitoo OKUBO
1.12%
5
PHILLIP SECURITIES (HONG KONG) LIMITED (Standing Proxy: Phillip Securities Japan, Ltd.)
0.88%
6
Hirohide ARUGA
0.76%
7
BNYM SA/NV FOR BNYM FOR BNYM GCM CLIENT ACCTS M ILM FE (Standing Proxy: MUFG Bank, Ltd.)
0.74%
8
Morgan Stanley MUFG Securities Co., Ltd.
0.42%
9
MURAKAMI TAKATERU (Standing Proxy: Mita Securities Co., Ltd.)
0.38%
10
Verite Co.,Ltd. Employee Stock Ownership Association
0.34%
Management
9 officers
Javeri Alpan KIRTIKUMAR
Representative Director, President and CEO
Sep 1997 Joined Dimingco Japan Co., Ltd. May 2014 Company renamed Jewel Source Japan Co., Ltd. Mar 2003 Director and General Manager, Sales Department, Jewel Source Japan Co., Ltd. Jun 2008 Director and General Manager, Sales Division, the Company Aug 2009 Director, in charge of Store Development, the Company Jul 2012 General Manager, PANDORA Business Division, the Company Oct 2014 Representative Director, President and CEO, the Company (current)
1978-09-19
Isamu SUZUKI
Director and Executive Vice President
Apr 2000 Joined Doshisha Co., Ltd. Sep 2005 Left Doshisha Co., Ltd. Oct 2005 Joined Happiness & Delight Co., Ltd. May 2009 Left Happiness & Delight Co., Ltd. Jun 2009 Joined the Company; Acting General Manager, Merchandising Department Apr 2010 Executive Officer and General Manager, Merchandising Department Apr 2011 Executive Officer; General Manager, Sales Promotion Department, Marketing Division Jan 2012 Executive Officer, PANDORA Sales Division Apr 2012 Executive Officer; General Manager, Sales Promotion Department, Marketing Division Jul 2012 General Manager, Sales Promotion Department, Marketing Division; General Manager, Trade-In Department Aug 2014 General Manager, Sales Promotion Department, Marketing Division Apr 2015 General Manager, New Channel Development Department Aug 2016 General Manager, Sales Promotion Department, Marketing Division; General Manager, New Channel Development Department Apr 2022 Head of Marketing Division; General Manager, Sales Promotion Department and New Channel Development Department Jun 2023 Director and Executive Vice President, the Company; Head of Marketing Division; General Manager, Sales Promotion Department and New Channel Development Department Jun 2025 Director and Executive Vice President, the Company (current); Head of Marketing Division and General Manager, Sales Promotion Department (current)
1979-08-14
Katsuhiko HINAMOTO
Director
Apr 1982 Joined Asahi Kasei Kogyo K.K. (currently Asahi Kasei Corporation) May 1982 Fiber Business Division, Fiber Planning and Management Department Mar 2001 Asahi Kasei Asia Pte. Ltd. (posted to Singapore) Oct 2003 Asahi Kasei Hong Kong Ltd. (posted to Hong Kong) May 2006 General Manager, Spunbond Sales Department, Asahi Kasei Corporation Apr 2012 General Manager, Nonwovens Business Division, Asahi Kasei Corporation (Executive Officer) Aug 2018 Director, Ozu Sangyo Co., Ltd. Aug 2020 Managing Director, Ozu Sangyo Co., Ltd. Sep 2022 Joined Senko Co., Ltd.; General Manager, Global Strategic Sales Department, International Logistics Division (Managing Executive Officer) Apr 2024 General Manager, assigned to Trading and Import/Export Business, Senko Group Holdings Co., Ltd. (Managing Executive Officer) (current) Dec 2025 Non-Executive Director, the Company (current)
1959-08-13
Naohisa FUKUTANI
Director
Sep 1986 Joined United Nations (New York Headquarters), International Year of Peace Secretariat Apr 1987 Joined The Mitsui Bank, Ltd. Jul 1999 Sakura Bank, Ltd., Investment Banking DC Planning (New York), Americas Representative Jul 2001 Daiwa SMBC Securities (Singapore), Corporate Finance Head and Head of Asia-Pacific M&A Mar 2005 Joined GCA Corporation (currently Houlihan Lokey), Partner and Managing Director Jun 2006 Outside Director, JST Corporation (TSE Second Section) Sep 2012 Outside Director, Diva Inc. (currently Avant Group Corporation; TSE Prime) Jul 2015 Joined PricewaterhouseCoopers Co., Ltd., Partner Jul 2019 Partner and COO, PwC Advisory LLC Jan 2020 Outside Director, Shared Research Inc. May 2021 Senior Advisor, PwC Advisory LLC (current) May 2021 Representative Director, Kieng Global Co., Ltd. (current)
Daisuke MORITA
Director
Apr 1982 Joined Asahi Kasei Kogyo K.K. (currently Asahi Kasei Corporation); Petrochemicals Planning, Chemicals and Resins Planning and Management Department Apr 1994 Section Manager, Leona Raw Materials Sales Department, Leona Business Division Apr 1997 Seconded to Asahi Kasei Singapore; Marketing GM, Leona Resin ASEAN Feb 2005 General Manager, MMA Monomer Sales Department, MMA Division, Asahi Kasei Chemicals Corporation Jan 2007 General Manager, New Business Development (Thailand Project), First Monomer Business Division Apr 2010 General Manager, Leona and Tenac, Business Management Department, Functional Resins Division Apr 2012 Joined Evonik Degussa Japan Co., Ltd.; General Manager, Sales Department, Silica Division (Country Manager) Nov 2014 Joined Estokem Co., Ltd. (formerly Eagle Sumi Corporation) Mar 2015 Director; Deputy General Manager, Sales Division (domestic) Mar 2021 Managing Director; General Manager, Sales Division Mar 2023 Senior Managing Director; General Manager, Marketing and SCM Division Jul 2025 Full-time Advisor Dec 2025 Retired as Full-time Advisor
Minoru ABE
Corporate Auditor
Apr 1978 Joined Okubo Co., Ltd. (currently Berite Co., Ltd.) Thereafter served as store manager at 19 stores, then in charge of Personnel Department and Internal Audit Office at head office Apr 2017 General Manager, Customer Relations Office and Internal Audit Office Feb 2021 Resigned for personal reasons Jun 2022 Corporate Auditor, the Company (current)
1956-03-04
Yasushi MATSUTOMO
Corporate Auditor
Apr 1983 Joined Chisso Corporation Jul 2003 General Manager, Chisso Taiwan Apr 2006 Deputy General Manager, Chisso Taiwan Co., Ltd. Sep 2007 General Manager, Sales Department, LCD Business Division, Chisso Corporation Mar 2011 Business transferred from Chisso Corporation to JNC Corporation Apr 2011 General Manager, Sales Coordination Department, LCD Business Division, JNC Corporation Apr 2012 General Manager, Operations Department, LCD Business Division, JNC Corporation Apr 2013 President, JNC Korea Co., Ltd. Apr 2015 General Manager, Administration Department, Ichihara Plant, JNC Petrochemical Corporation Jun 2019 Full-time Corporate Auditor, Senko Co., Ltd. Jun 2019 Full-time Corporate Auditor, Senko Group Holdings Co., Ltd. Jun 2023 General Manager, General Affairs and Administration Division, SENKO International Trading Co., Ltd. Dec 2025 Corporate Auditor, the Company (current) Apr 2026 General Manager, Governance Promotion, Management Strategy Office, Business Management Division, Senko Shoji Co., Ltd. (current)
1960-09-20
Takiya UDAGAWA
Corporate Auditor
Jan 2003 Joined Kutoku Accounting Office Sep 2006 Joined Udagawa Kiyoshi Certified Tax Accountant Office Aug 2013 Representative, Udagawa Accounting Office Tax Corporation Jun 2014 Outside Corporate Auditor, the Company (current) Oct 2020 Following merger, renamed Udagawa Matsumura Accounting Office Tax Corporation; Representative of the same office (current)
1983-01-19
Kengo TOUDO
Corporate Auditor
Aug 2007 Joined Takizawa Certified Public Accountant Office Dec 2014 Director, Bambi Nursery School Co., Ltd. (current) Apr 2015 Registered as Certified Tax Accountant (Registration No. 129545) Jul 2015 Left Takizawa Certified Public Accountant Office Aug 2015 Joined Tokyo City Tax Accountant Office Tax Corporation Dec 2016 Left Tokyo City Tax Accountant Office Tax Corporation Dec 2016 Joined Touto Certified Public Accountant Office; Deputy Office Head (current) Jan 2017 Partner tax accountant of Stars Tax Corporation, specializing in real estate taxation, inheritance and business succession (current) Jun 2023 Outside Corporate Auditor, the Company (current)
1981-02-24
Large Shareholding Reports
Jewel Source Japan Holdings Co., Ltd.
2025-09-16
50.00%→0.00%
Senko Group Holdings Co., Ltd.
2025-09-09
50.00%
Annual report (as of 2026-03-31): 50.18%
Jewel Source Japan Holdings Co., Ltd.
2025-08-18
50.68%→50.00%
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-08-07
Q1 Earnings Flash
FY ending Mar 2027
EDINETAmended
2026-06-29
Amended Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2026-06-22
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-06-01
株主総会招集通知
TDnet
2026-02-13
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-13
Semi-Annual Securities Report
Period: Apr 2025 – Mar 2026
EDINET
2025-09-16
Large Shareholding Report
EDINET
2025-09-09
Large Shareholding Report
EDINET
2025-08-18
Large Shareholding Report
TDnet
2025-08-08
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-27
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-02-13
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-13
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-08-13
Q1 Earnings Flash
FY ending Mar 2025
EDINETAmended
2024-08-02
Amended Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-06-27
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-14
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-14
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINETAmended
2023-08-14
Amended Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINETAmended
2023-08-14
Amended Quarterly Securities Report
Period: Oct 2021 – Dec 2021
EDINETAmended
2023-08-14
Amended Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINETAmended
2023-08-14
Amended Annual Securities Report
Period: Apr 2021 – Mar 2022
EDINETAmended
2023-08-14
Amended Quarterly Securities Report
Period: Apr 2021 – Jun 2021
EDINETAmended
2023-08-14
Amended Quarterly Securities Report
Period: Jul 2022 – Sep 2022
EDINET
2023-08-14
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINETAmended
2023-08-14
Amended Quarterly Securities Report
Period: Apr 2022 – Jun 2022
EDINETAmended
2023-08-14
Amended Quarterly Securities Report
Period: Jul 2021 – Sep 2021
EDINET
2023-06-30
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-14
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-14
Quarterly Securities Report
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