Financial Results in Brief
for FY 2001
(Ended March 2002)- Consolidated May 2002

1. Brief Statement of Operation (Consolidated)
Unit: Hundred Million Yen
FY 2000

FY 2001(Ended Mar. '01)

(Ended Mar. '02)

Variance

Forecast in mid
FY 2001

New Orders

1,394

2,179 ＊2785

2,000 ＊2

Backlog of Orders

1,642

2,461818−Revenues

1,286

1,415128

1,400

Operating Profit- 138- 5186- 50

Ordinary Profit＊1- 133- 3399- 45

Net Profit

- 46

1470

＊1 Including dividends from international subsidiaries＊2 1,834 Hundred Million Yen (HMY) on non-consolidated basis（cf. 1,500 HMY forecast in the beginning of FY 2001;
1,800 HMY forecast in mid of FY 2001）

・ NEW ORDERS: Increased by 56% as compared with FY 2000
: Over 2,000 HMY were logged first time in 4 years

・ REVENUES: Increased only by 10% because of slump in new orders
since FY 1999
: New orders for FY 2001 will contribute to the increase ofrevenues in FY 2002

・ OPERATING LOSS
: Almost the same as expected
ORDINARY LOSS
: Improved

・ NET PROFIT: Zero profit for the year

2. Balance Sheets in Brief (Consolidated)
Unit: Hundred Million Yen
FY 2000 FY 2001
Current Assets

Variance

FY 2000

FY 2001

Variance

1,078

1,009

- 69

1,101

1,023

- 78 Current Liabilities

Cash & Time Deposits

339

405

66

Short-term Loans

260

175

- 85

Major Assets

651

515

- 136

Major Liabilities

727

741

14Others

111

104

- 7

Others92

94

2Fixed Assets

270

270

1142

134

-8

Long-term Loans

113

107

-7

Others

28

27

-1150

151

1- 77 Liabilities &1,370
1,293
Shareholders’ Equity(Compared with FY 2000 )＝ Notes Receivable＋Accounts Receivables＝ 515- 77Fixed Liabilities

Shareholders’ Equity
Assets Total

Major Assets

1,370

1,293+Cost of Construction in Progress
Major Liabilities＝ Notes Payable+Accounts Payable+Advance Receipt of Contract

Bank Loans＝ Short-term Loans 175＋Long-term Loans 107（Decreased by 136） Cash Flow
＝ 741
（Increased by 14）＝ 281

Improved
by 150 HMY

・ TOTAL ASSETS: Decreased due to scheduled collection ofaccounts receivable

・ CASH FLOW from Operational Activities: Improved by 150 HMY

・ BANK LOANS: Reduced by 91 HMY to 281 HMY: Less than one forth of those in FY 1997・ CASH & TIME DEPOSITS: Recorded at 405 HMY with no net debt in FY 2001

・ SHAREHODERS’ EQUITY PER TOTAL ASSETS: Improved by 0.7% to 11.7% (11.0% in FY 2000)

・ DEBT EQUITY RATIO: Improved by 0.62 points to 1.86 (2.48 in FY 2000)

3. New Orders (Consolidated)
Hundred Million Yen

3,000

2,461

2,500
2,000

1,800 HMY on non-consolidated
basis

2,800

1,642

1,476

1,500

LNG & International

2,179

2,200

1,280

1,394

Domestic & GeneralIndustries

1,600

583

1,020

1,000306500

713811899

FY 1999FY 2000

FY 2001

Backlog of Orders
6000
FY 2002 (Plan)【Major Awards in FY 2001 】
Division

LNG & International

200 HMYand above

Olefin Complex (Saudi Arabia) ＊Grass roots LNG (Qatar) ＊under200 HMY

Ammonia & Urea Complex (Iran) ＊Common Cooling Water System (Qatar) ＊LNG Debottlenecking (Qatar)＊
Epoxy Resin (China)＊ Awarded by alliance or joint venture

Domestic & General Industries

Gas Oil Ultra Deep HDS (NipponPetroleum Refining)
Solid Dosage Plant (Ajinomoto Pharma)
Hydrant Facilities for Airports

・New orders over 2,000 HMY (consolidated)
・Expecting new orders of 2,200 HMY (consolidated) /1,800 HMY (non-consolidated) in FY 2002 (ended March 2003)【Domestic Market】Growing steadily in business areas with technical advantages
LNG Receiving Terminals

PharmaceuticalEnvironment【International Market】Getting active, thanks to higher oil price・ Fuel conversion in power
generation (from oil to gas)・ Natural gas as feedstocks

LNG
Olefins and other chemicals【Chiyoda’s Strategy】
・Strengthen business with clients/areas where we have good contacts
・Promote strategic alliance with contractors/licensors・Improve price competitiveness4. Operational Forecast for FY 2002 (Ended March 2003)(Consolidated)
Unit: Hundred Million YenActualFY 2001

ForecastFY 2002

VarianceNew Orders

2,179

2,20021

Backlog of Orders

2,461

2,800339

Revenues

1,415

1,800385

Operating Profit

- 51

1768

Ordinary Profit

- 33

2053

154

Net Profit

・Revenues increase by 27% to 1,800 HMY, thanks to higher orders
since FY 2001
・Operating/Ordinary Profit secured on both consolidated and nonconsolidated basis