Latest Tokyo Brief coverage on BESTERRA CO., LTD, tracking filings, financial news, and market signals from Japan.
TSE:1433
Besterra's half-year filing confirms four people died when part of the equipment being dismantled fell at its Kawasaki demolition site in April, and the contractor says it still cannot estimate the financial impact even as operating profit more than doubled and net profit fell by half on a securities writedown.
A roughly ¥500mn writedown on an unlisted stake halved Besterra's interim net profit even as operating profit more than doubled, and the demolition contractor still cannot quantify the cost of an April crane accident that killed four people at a Kawasaki steel mill.
Bestera's first-quarter sales rose 29.3% to ¥3.27 billion and operating profit jumped 164.1% to ¥353 million, with new orders up 188.5% to ¥3.865 billion. The company kept its annual outlook unchanged, but separately approved total new borrowing of ¥6 billion as larger demolition projects absorb more working capital. A second update on the April accident at a Kawasaki demolition site said three workers died, two were injured and one remains missing, with investigations continuing and the direct earnings impact still unquantified. The operating momentum is clear. The financial consequences of the accident are not.