kabutan

Verite plunges to daily limit down in afternoon session on dividend cut to 6 yen for fiscal March 2027

Wed May 13, 2026 2:07 pm JST Catalyst

Verite <9904> plummeted to its daily limit-down in afternoon trading on May 13, sliding 80 yen from its previous close to 314 yen and hitting a new year-to-date low. The sell-off followed the company's 1:00 p.m. announcement of a drastic dividend cut alongside its fiscal 2026 results and fiscal 2027 guidance.

For the fiscal year ending March 2027, the jewelry retailer plans an annual dividend of 6.00 yen, a sharp reduction from the 20.98 yen paid in the prior year. This shift reflects a revision to its dividend policy; the company is pivoting from an active distribution approach to one focused on bolstering internal reserves and financial stability. Despite the dividend blow, Verite projects a return to growth for the current fiscal year, forecasting revenue of 9,694 million yen (up 2.7% year-on-year) and operating profit of 800 million yen (up 14.1%). The company anticipates a steady expansion in the jewelry market, supported by resilient demand from affluent domestic consumers and inbound tourists. For the fiscal year ended March 2026, revenue rose 18.8% to 9,441 million yen, while operating profit fell 20.0% to 700 million yen.

Source: MINKABU PRESS

*Translated by generative AI. Click here for the original article.

Related Articles