Jewel Source Japan Holdings Cuts Stake in Verite (9904) to 0% | Large Shareholding Report

A large shareholding report (EDINET filing) reveals that Jewel Source Japan Holdings Co., Ltd. has reduced its stake in Berite (9904) to 0%. Berite is a major jewelry retailer operating multiple brands including Berite, Maharaja Diamond, Mimikasari, and Berisia, which sell gemstones, precious metals, watches, and fashion accessories. Through this divestment, Jewel Source has completely exited its position as a principal shareholder of the company.

Based on the shareholding report, the estimated proceeds from the sale are approximately ¥4.63 billion. This reduction to 0% ownership did not occur in a single transaction; rather, Jewel Source's stake has declined by 50 percentage points from its previous level, with this latest filing marking the complete exit. This pattern suggests a staged divestment process.

*Speculation: The sale may reflect a shift in Jewel Source's investment strategy and a decision to terminate its involvement with Berite, while simultaneously representing the departure of a major supportive shareholder that could have implications for Berite's future management direction and capital strategy.