Note:This document is a translation of a part of the original Japanese version and provided for reference purposes only. In the event of any discrepancy
between the Japanese original and this English translation, the Japanese original shall prevail.

Consolidated Financial Results
for the Year Ended January 31, 2023
[Japanese GAAP]
March 10, 2023
Company name:
BESTERRA CO.,LTD
Stock exchange listing: Tokyo
Code number:
1433
URL:
https://www.besterra.co.jp
Representative:
Yutaka Honda
Contact:
Shinya Ikeda
Phone:
03-3630-5555
Scheduled date of Annual General Meeting of Shareholders:
Scheduled date of commencing dividend payments:
Scheduled date of filing annual securities report:
Availability of supplementary briefing material on annual financial results:
Schedule of annual financial results briefing session:

President and Representative Director
Executive Officer and Planning Manager
April 27, 2023
April 11, 2023
April 28, 2023
Yes
Yes

(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Fiscal Year Ended January 31, 2023 (February 01, 2022 to January 31, 2023)(1) Consolidated Operating Results(% indicates changes from the previous corresponding period.)
Profit attributable toNet sales
Operating profit
Ordinary profit
owners of parent
Million yen%
Million yen%
Million yen%
Million yen%
Fiscal year ended
January 31, 2023
5,458
(8.5)
(215)
(94)
(64)
January 31, 2022
5,966
62.0
488
292.6
721
238.9
1,391
876.2
(Note) Comprehensive income:Fiscal year ended January 31, 2023:¥(52) million [-%]
Fiscal year ended January 31, 2022:¥1,240 million [566.6%]
Basic earnings per Diluted earnings per Rate of return onshareshareequity

Ordinary profit tototal assets ratio

Yen
Yen%
Fiscal year ended
January 31, 2023
(7.33)(1.5)
January 31, 2022
165.48162.73
40.6(Reference) Equity in earnings (losses) of affiliated companies: Fiscal year ended January 31, 2023:
Fiscal year ended January 31, 2022:

Operating profit tonet sales ratio

%%

(1.1)
9.6
¥
¥

(4.0)
8.2
- million
201 million(2) Consolidated Financial Position
Total assets
As ofJanuary 31, 2023
January 31, 2022
(Reference) Equity:

Net assets

Million yen

Million yen

8,427
8,953
As of January 31, 2023:
As of January 31, 2022:

Capital adequacy ratio

¥¥

4,379
4,278
4,368 million
4,258 million

Net assets per share%

Yen

51.8
47.6

493.05493.97(3) Consolidated Cash Flows
Cash flows fromoperating activities
Fiscal year ended
January 31, 2023
January 31, 2022

Cash flows frominvesting activities

Cash flows fromfinancing activities

Cash and cash
equivalents at the endof period

Million yen

Million yen

Million yen

Million yen(354)
537(515)
(32)

85
250

1,337
2,1222. Dividends
Annual dividends
1st2nd3rdquarter-end quarter-end quarter-end

Year-end

Total

Payoutratio

Total
dividends(consolidated)

Dividends
to netassets(consolidated)

Fiscal year ended

Yen

Yen

Yen

Yen

Yen

Million yen%%

January 31, 2022

-

6.00

-

10.00

16.00

136

9.7

4.0

January 31, 2023

-

10.00

-

10.00

20.00

176

-

4.1

-

10.00

-

10.00

20.00

Fiscal year ending
January 31, 2024

44.3

(Forecast)
3. Consolidated Financial Results Forecast for the Fiscal Year Ending January 31, 2024 (February 01, 2023 to January 31, 2024)(% indicates changes from the previous corresponding period.)
Profit attributable to Basic earnings perNet sales
Operating profit
Ordinary profit
owners of parent
shareMillion yen

Full year

7,800% Million yen

42.9

510

% Million yen% Million yen%

Yen---

45.14586

400* Notes:(1) Changes in significant subsidiaries during the period under review (changes in specified subsidiaries resulting in changes inscope of consolidation): No(2) Changes in accounting policies, changes in accounting estimates and retrospective restatement
1) Changes in accounting policies due to the revision of accounting standards: Yes
2) Changes in accounting policies other than 1) above: No
3) Changes in accounting estimates: No4) Retrospective restatement: No(3) Total number of issued shares (common shares)
1) Total number of issued shares at the end of the period (including treasury shares):
January 31, 2023:
8,990,200 shares
January 31, 2022:
8,750,400 shares2) Total number of treasury shares at the end of the period:
January 31, 2023:
129,035 shares
January 31, 2022:
129,035 shares
3) Average number of shares during the period:
Fiscal Year ended January 31, 2023:
Fiscal Year ended January 31, 2022:

8,783,916 shares
8,410,682 shares

(Reference) Summary of Non-consolidated Financial Results
1. Non-consolidated Financial Results for the Fiscal Year Ended January 31, 2023 (February 01, 2022 to January 31, 2023)(1) Non-consolidated Operating Results(% indicates changes from the previous corresponding period.)
Net sales
Fiscal year endedJanuary 31, 2023
January 31, 2022

Operating profit

Ordinary profit

Net income

Million yen%

Million yen%

Million yen%

Million yen%

4,450
5,064

(12.1)
47.4

(303)
463

260.9(174)
582

172.7

(121)
1,378

975.8

Basic earnings per share Diluted earnings per share
Fiscal year ended
January 31, 2023
January 31, 2022

YenYen(13.87)163.93161.21(2) Non-consolidated Financial Position
Total assets
As ofJanuary 31, 2023
January 31, 2022
(Reference) Equity:

Net assets

Million yen

8,126
8,497
As of January 31, 2023:
As of January 31, 2022:

Capital adequacy ratio

Million yen

¥
¥

4,310
4,268
4,303 million
4,250 million

Net assets per share%Yen

53.0
50.0

485.62493.01

Consolidated Financial Statements
Consolidated Balance Sheets(Thousand yen)
As of January 31,2022
AssetsCurrent assets
Cash and deposits
Notes receivable, accounts receivable fromcompleted construction contracts, contract assets
and otherCosts on construction contracts in progress
Income taxes refund receivable
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery, vehicles, tools, furniture andfixtures
Accumulated depreciation
Machinery, vehicles, tools, furniture andfixtures, net
Leased assets
Accumulated depreciation
Leased assets, net
LandConstruction in progress
Total property, plant and equipment
Intangible assets
Goodwill
Leased assets
Other
Total intangible assets
Investments and other assets
Investment securities
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

As of January 31,2023

2,122,236

1,337,606

2,212,594

1,761,539

149,624
79,593(2,532)4,561,517

121,467
176,130
173,763(2,002)
3,568,505

148,857(40,709)108,147

176,541(49,294)
127,247

163,161

170,189(150,367)(154,917)

12,793

15,271

2,979(1,539)1,439
116,490
76,746315,617

2,979(2,135)
844
165,745
1,287
310,394

126,431
3,335
40,525170,292

98,644
2,191
12,602
113,438

3,857,610
1,676
47,318(820)
3,905,784
4,391,695
8,953,212

4,374,452
61,688(820)
4,435,320
4,859,154
8,427,659

(Thousand yen)
As of January 31,2022
Liabilities
Current liabilities
Accounts payable for construction contracts andotherShort-term borrowings
Current portion of long-term borrowings
Lease liabilities
Income taxes payable
Provision for loss on construction contracts
Provision for shareholder benefit program
Provision for retirement benefits for directors (andother officers)
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Retirement benefit liability
Lease liabilities
Deferred tax liabilities
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Total accumulated other comprehensive income
Share acquisition rights
Non-controlling interests
Total net assets
Total liabilities and net assets

As of January 31,2023

1,199,334

786,095

262,695
1,909
240,650
13,500300,000
256,318
1,926
285
3,978
34,530-184,987

463,543
2,181,632

297,352
1,865,473

2,126,694
65,284
3,538
288,1129,487
2,493,118
4,674,750

1,870,376
66,406
1,612
234,052
10,6202,183,067
4,048,540

696,130
657,100
3,232,417(200,362)
4,385,286

843,176
804,146
3,037,498(200,362)
4,484,458(126,562)(115,477)(126,562)
17,974
1,763
4,278,461
8,953,212(115,477)
7,548
2,589
4,379,118
8,427,659

Consolidated Statements of Income and Comprehensive Income
Consolidated Statements of Income(Thousand yen)
For the fiscal year
ended January 31,2022
Net sales
Net sales of completed construction contracts
Net sales in sideline businesses
Total net sales
Cost of sales
Cost of sales of completed construction contracts
Cost of sales in sideline businesses
Total cost of sales
Gross profit
Gross profit on completed construction contracts
Gross profit on sideline businessTotal gross profit
Selling, general and administrative expenses
Remuneration for directors (and other officers)
Employees' salaries and allowances
Retirement benefit expenses
Provision for retirement benefits for directors (andother officers)
Provision for shareholder benefit program
Depreciation
Other
Total selling, general and administrative expenses
Operating profit (loss)
Non-operating income
Dividend income
Rental income from real estate
Share of profit of entities accounted for using equitymethod
Other
Total non-operating income
Non-operating expenses
Interest expenses
Rental expenses on real estate
Other
Total non-operating expenses
Ordinary profit (loss)
Extraordinary income
Gain on exchange from business combination
Total extraordinary income
Profit (loss) before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit (loss)
Profit (loss) attributable to non-controlling interests
Profit (loss) attributable to owners of parent

For the fiscal year
ended January 31,2023

5,736,886
229,9965,966,882

5,242,436
216,292
5,458,728

4,435,425
174,255
4,609,681

4,402,007
167,070
4,569,077

1,301,460
55,7401,357,200

840,429
49,222889,651

87,167
184,733
9,942

100,566
237,050
10,294-

184,987

13,500139,478433,627
868,449
488,751

34,53050,104
487,778
1,105,312(215,661)

27,86438,025

119,038
40,293201,312-

10,527
277,728

5,869
165,200

7,602
30,9806,630
45,213
721,265

7,093
30,537
6,732
44,363(94,823)

1,275,449
1,275,449
1,996,715
264,064
341,146605,211
1,391,504(266)
1,391,770(94,823)
46,139(77,431)(31,292)(63,531)825(64,357)

Consolidated Statements of Comprehensive Income(Thousand yen)
For the fiscal year
ended January 31,2022
Profit (loss)
Other comprehensive income
Valuation difference on available-for-sale securities
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable to owners ofparent
Comprehensive income attributable to non-controllinginterests

For the fiscal year
ended January 31,2023

1,391,504(63,531)(150,565)(150,565)
1,240,938

11,085
11,085(52,445)

1,241,204(53,271)

(266)

825

Consolidated Statements of Changes in Net Assets
For the fiscal year ended January 31,2022(Thousand yen)
Shareholders' equity
Share capital
Balance at beginningof period
Changes during
periodIssuance of newsharesDividends ofsurplus
Profit (loss)
attributable toowners of parent
Purchase of treasury
sharesNet changes in
items other thanshareholders' equity
Total changes
during period
Balance at end ofperiod

Capital surplus

417,178

378,148

278,952

278,952

Retained earnings
1,973,047(200,301)

Total shareholders'equity2,568,071

557,905(132,400)(132,400)

1,391,770

1,391,770
(61)

(61)

278,952

278,952

1,259,370(61)

1,817,214

696,130

657,100

3,232,417(200,362)

4,385,286

Accumulated other comprehensive
incomeShare acquisition
Valuation difference Total accumulated
rightson available-for-sale other comprehensive
securities
incomeBalance at beginningof period
Changes during
periodIssuance of newsharesDividends ofsurplusProfit (loss)
attributable toowners of parent
Purchase of treasury
sharesNet changes initems other thanshareholders' equity
Total changes
during period
Balance at end of
periodTreasury shares

24,00324,003

1,214

Non-controllinginterests

Total net assets

2,029

2,595,318

557,905(132,400)
1,391,770(61)(150,565)(150,565)

16,760(266)(134,070)(150,565)(150,565)

16,760(266)

1,683,143(126,562)(126,562)

17,974

1,763

4,278,461

For the fiscal year ended January 31,2023(Thousand yen)
Shareholders' equity
Share capital
Balance at beginningof period
Cumulative effects ofchanges in accounting
policiesRestated balance
Changes during
periodIssuance of newshares
Dividends ofsurplus
Profit (loss)
attributable toowners of parent
Net changes in
items other thanshareholders' equity
Total changes
during period
Balance at end of
period696,130

Capital surplus
657,100

Retained earnings
3,232,417(200,362)

44,264
696,130

657,100

147,045

147,0453,276,681

4,385,286
44,264(200,362)

4,429,550

294,090(174,825)(174,825)(64,357)(64,357)

147,045

147,045(239,182)-

54,908843,176

804,146

3,037,498(200,362)

4,484,458

Accumulated other comprehensive
incomeShare acquisition
Valuation difference Total accumulated
rightson available-for-sale other comprehensive
securities
incomeBalance at beginningof period
Cumulative effects ofchanges in accounting
policies
Restated balance
Changes during
periodIssuance of newsharesDividends ofsurplusProfit (loss)
attributable toowners of parent
Net changes in
items other thanshareholders' equity
Total changes
during period
Balance at end ofperiod

Total shareholders'equityTreasury shares(126,562)(126,562)

17,974Non-controllinginterestsTotal net assets

1,763

4,278,461
44,264(126,562)(126,562)

17,9741,763

4,322,725

294,090(174,825)(64,357)
11,085

11,085(10,426)

825

1,484

11,085

11,085(10,426)

825

56,392(115,477)(115,477)

7,548

2,589

4,379,118

Consolidated Statements of Cash Flows(Thousand yen)
For the fiscal year
ended January 31,2022
Cash flows from operating activities
Profit (loss) before income taxes
Gain on exchange from business combination
Depreciation
Share of profit of investments accounted for using
equity method
Amortization of goodwill
Increase (decrease) in allowance for doubtful accounts
Interest and dividend income
Increase (decrease) in provision for shareholder
benefit program
Increase (decrease) in provision for retirement benefits
for directors (and other officers)
Increase (decrease) in retirement benefit liability
Interest expenses
Decrease (increase) in trade receivables
Decrease (increase) in costs on construction contracts
in progress
Increase (decrease) in trade payables
Other, net
SubtotalInterest and dividends received
Interest paid
Income taxes refund (paid)
Net cash provided by (used in) operating activities
Cash flows from investing activities
Purchase of investment securities
Purchase of property, plant and equipment
Purchase of intangible assets
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Proceeds from short-term borrowings
Repayments of long-term borrowings
Repayments of lease liabilities
Proceeds from issuance of shares
Proceeds from issuance of share acquisition rights
Dividends paid
Other, net
Net cash provided by (used in) financing activities
Net increase (decrease) in cash and cash equivalentsCash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

For the fiscal year
ended January 31,2023

1,996,715(1,275,449)
146,459(94,823)
50,632(201,312)-

9,329(1,080)(27,867)

27,787(529)(119,104)

4,500

21,030-184,987(15,910)
7,602(506,478)

1,121
7,093
514,879(33,759)

28,157

256,246
178,657
537,652
117,827(7,578)(110,052)
537,849(413,239)(227,206)(19,213)
119,104(7,069)(447,602)(354,780)(59)(37,916)(11,523)
16,713(32,785)(500,269)(13,704)(2,848)1,667(515,154)(250,259)(1,893)549,851
24,888(132,283)
59,742250,046755,1091,367,126
2,122,236

300,000(262,695)(1,909)225,000(175,091)
85,305(784,629)
2,122,236
1,337,606