Chiyoda Global Headquarters
Minato Mirai Grand Central Tower
4-6-2, Minatomirai, Nishi-ku,
Yokohama 220-8765, Japanwww.chiyodacorp.com/en

The presentation was conducted inJapanese.

Thisdocument

isMay 15, 2023

aIR, PR & Sustainability Advanced Section

translation/summary for reference only.

Corporate Services Department
Chiyoda Corporation

Summary of a Q&A session following the Presentation of theFinancial Results for Fiscal Year Ending March 31, 2023
The following is a summary of a Q&A session following an online presentation of Chiyoda
Corporation’s (Chiyoda) financial results for the fiscal year ending March 31, 2023, releasedon May 9, 2023.
QuestionNo.

1Answer

Revenue
Why was the Revenue below the •Increased shipping costs caused by thefull year forecast?

geopolitical crisis in Ukraine remain high andvolatile.
Accounting progress was below the full year
forecast with the recognition that the cost of
sales fell behind by optimizing material
procurement

andadjusting

shipping

arrangements within the contract scheduleon some projects.
•FY2022 Revenue was below the full year
forecast and will be recorded in the next fiscalyear. The actual project progress is in linewith contract schedules and Engineering,
Procurement

andConstruction(EPC)

execution management.
•Two major projects, NFE LNG in Qatar and acopper smelting plant in Indonesia, areprogressing as scheduled.

2FY2023 New Order forecast
What are the details of the FY •The FY2023 New Order forecast consists of2023 New Order forecast of JPY

JPY 200 billion in Japan and JPY 100 billion

1Chiyoda Global Headquarters
Minato Mirai Grand Central Tower
4-6-2, Minatomirai, Nishi-ku,
Yokohama 220-8765, Japanwww.chiyodacorp.com/enQuestionNo.

Answer300 billion? How is NFS LNG inthe Qatar order forecast?

overseas and by group companies.
•In Japan, Chiyoda will constantly receive
middle-scale
investment

project
inorders,

decarbonization

becauseandlife

science fields is robust with government
support.
•NFS LNG in Qatar is in the bid process.
Chiyoda deliberately assesses the projectorder for the following reasons.
A) In

executing

NFE

LNG,

Chiyodarecognized unanticipated risks, such as
COVID-19 and the geopolitical crisis inUkraine. We similarly assess variousrisks in NFS LNG in terms of appropriate
risk and return.
B) Chiyoda reinforces business resources innewbusinessfieldcreation

anddevelopment to accelerate its businessportfolio transformation as a growthstrategy.
•Chiyoda will screen and receive new orders
by carefully evaluating the risk and return
balance for each project.

3

Hydrogen business
Please explain the market scale of •Chiyoda is deploying the business model ofthe hydrogen business and its

our unique SPERA HydrogenTM technology

timeline.

licensing and catalyst sales, in addition toEPC

forhydrogenmanufacturing

anddehydrogenation plant construction.
•Chiyoda is currently executing feasibility
studies, including for a Singapore project for
which we will progress towards Front End
Engineering and Design (FEED) in FY2023
and EPC in FY2024.

•In the initial stage, we expect a market scale2Chiyoda Global Headquarters
Minato Mirai Grand Central Tower
4-6-2, Minatomirai, Nishi-ku,
Yokohama 220-8765, Japanwww.chiyodacorp.com/en

No.

Question

Answerof tens of billions of yen for EPC for thehydrogen

manufacturing

anddehydrogenation

plantandconstruction

billions of yen for licensing and catalyst sales.
4Business environment
How does Chiyoda view changes •Chiyoda’s view is that the increasing drive inin the Liquefied Natural Gas (LNG)

naturalbusiness environment?

influenced by the geopolitical crisis in Ukraine

gas

investment

inEurope

isand that we will also witness a demand
increase in Asia.
•Chiyoda receives inquiries to participate as acontractor in LNG projects.

•LNG is essential in the transition towards the2050 target of Net Zero emissions. LNG plant
construction takes years however, and atwenty-some-year long-term off-take contract
is required to structure large-scale projectfinance. Both the operating company andEPC contractor need to stringently evaluate
all risks before reaching a discreet decision.

•Chiyoda will further contribute to developing
future LNG projects under the development
concept ‘Cleaner LNG’, decreasing CO2
emissions by incorporating Carbon dioxide
Capture and Storage (CCS) facilities.

5Dividends policy
How long will it take for Chiyoda to •Chiyoda aims to resume dividend payments

resume dividend payments?

as soon as possible. We are currently aiming
to achieve the medium-term management
plan, accumulated profit and reinforced
financial structure.

3

Chiyoda Global Headquarters
Minato Mirai Grand Central Tower
4-6-2, Minatomirai, Nishi-ku,
Yokohama 220-8765, Japanwww.chiyodacorp.com/en-EndPlease submit inquiries to:
IR, PR & Sustainability Advanced Section, Corporate Services Department
Tel. +81-45-225-7734

Note: Some additions and corrections have been made to simplify the content for readers.
Any projections included in these materials are based solely on information available at thetime this presentation was prepared. It is possible that actual results may vary significantlyfrom the projections due to a number of risk factors such as economic conditions. The results
projected here should not be construed in any way as being guaranteed by the Company.
Investors are recommended not to depend solely on these projections for making investment
decisions.

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