Business OverviewforFY 2011
Fiscal Year ended March 2012

Takashi Kubota
President & CEOMay 11,11 2012

All Rights Reserved. CHIYODA 2012

Table of Contents
1. Management Overview
Orders in FY 2011
Projects Under Execution in FY 2011
Strategy for FY 2012
P j t ExpectedProjects
Et d iin FY 2012 andd ththereafterft

2. Outlook for the Business Environment

LNG Supply/Demand Outlook
Shale Gas Outlook
Expansion of Overseas Infrastructure Market
Growth in Low Carbon Society-related Industries
andd St
Structuralt l Changes
Chiin Domestic
Dti MMarketk t

3. Key Initiatives in FY 2012
All Rights Reserved. CHIYODA 201211. Management Overview
 Orders in FY 2011Overseas

Australia / Ichthys LNG Project / EPC*¹ Contract
Malaysia / Polycrystalline Silicon Plant / EPC Contract (second-stage)
Malaysia / LNG Plant / FEED*² and Early Works Contract
Iraq / Oil Refinery / Furnace Replacement Work
Saudi Arabia / Industrial City / Feasibility Study of Waste Water Treatment
Thailand / Industrial Complex / Energy Saving Study
Venezuela / Oil Refineryy Expansion Projectj/ EPsCm*³ ContractDomesticJapan Underground Oil Storage Co., Ltd. / Kuji National Oil Storage Base /Reconstruction of ground facilities damaged by Great East Japan Earthquake
JX Nippon Oil & Energy Corp. / Sendai Refinery / Emergency Measures forthe facilities damaged by the Earthquake
UNIGEN IInc. / CConstruction
t ti off Ph
Pharmaceuticalti l IngredientsIdi t M
Manufacturing
f t i PlPlantt
LNG Receiving Terminals*1: Engineering, Procurement and Construction *2: Front End Engineering and Design*3 E*3:Engineering,iiP
Procurementt supportt anddCConstruction
t ti managementt

All Rights Reserved. CHIYODA 20122 Major Projects Under Execution in FY 2011OverseasPapua New Guinea / LNG Plant
Australia / FEED works for LNG Project (Browse, Arrow)
Malaysia / Polycrystalline Silicon Plant (first-stage)Th Philippines
ThePhili i/ Ni
Nickelk lRRefining
fi i Pl
PlanttSingapore / Oil Refinery EPCm* work (Chiyoda Singapore Ltd.)
Saudi Arabia / Heavy Oil Cracking Unit
Qatar / Gas Processing PlantDomestic
 LNG Receiving Terminals
 Revamping, Upgrading, Energy-saving and Maintenance works
for Oil Refineries Pharmaceutical Plant*Engineering
Engineering, Procurement and Construction management

All Rights Reserved. CHIYODA 20123 Major Projects Under Execution - Overseas
as of March 3131, 2012
★ EPC / EPCm Execution★ FEED / Feasibility Study
Yamal LNG
Russia / LNG★

Arzew LNG
Algeria / LNG

Al Jubail Export Refinery
Saudi Arabia / Refinery
Industrial Wastewater Treatment
Saudi Arabia / Water
Nickel Refining Plant
Philippines / Material★
★★ ★

Plateau Maintenance Project★★
Qatar / LNG
Long Term Service Agreement( RasGas
R G / QatargasQ t)★ ★
★
Map Ta Phut Industrial
Qatar / LNG
Complex★
Thailand / Energy Saving

Tokuyama Phase-1/2
Malaysia / Renewable Energy Material
Bintulu Tr.9
Malaysia / LNG★

Puerto La Cruz
Venezuela /Oil Refinery
★

★

★★

Ichthys LNG
Stolthaven
AustraliaAt li / LNG
Singapore/
Tank terminal Browse LNG
Australia / LNG
Shell Bukom
Singapore/Refinery

PNG LNG
Papua New Guinea / LNG★Arrow LNG
Australia / LNG

All Rights Reserved. CHIYODA 20124 Strategy
gy for FY 2012<Existing business fields>
 Optimize
O ti i orders
dover multiple
lti l fifiscall years, with
ith an eye
on orders for large-scale LNG projects in FY 2013
 Sharpen competitive advantage,advantage using partnering Expanding the operation of domestic/overseas subsidiaries<New business fields>
Infrastructure New Energy
Infrastructure,
Energy, New Hydrocarbon
 Implementation of project together with investments Collaboration
C ll b ti withith partnerst

All Rights Reserved. CHIYODA 20125Projects Expected in FY 2012 and thereafter<Existing Business Fields> Vietnam/ Oil Refineryq Oil and Gas Projectsj
 Iraq/ LNG projects : Australia, South East Asia, Africa, Russia, North America
 Projects planned by Japanese Clients expanding Overseas Operations
 Domestic – LNG Receiving Terminals/Chemical/Pharmaceutical Projects
 Projects executed by Overseas Group Companies:Chiyoda Singapore Ltd., Chiyoda Almana Engineering LLC*

*Consolidated subsidiary, 49% interest owned by Chiyoda. Established in 2008.

All Rights Reserved. CHIYODA 20126 Projects Expected in FY 2012 and thereafter<New Business Fields>
 Infrastructure Transportation: Railway and airport projects
 Social development/Smart community:- Participation and development from the planning stage- Consolidation of the system by merging group companies in Japan Water treatment business: Industrial wastewater treatment/recycle
including investments and O&M
 Collaboration with CTCI Corporation (Taiwan): Railway infrastructure andwater treatment, etc.
 New Energy Photovoltaic
Ph t
lt i power andd CSP generation:ti
EPC andd some bbusinessiinvestments
 Hydrogen business: Preparations for launch New Hydrocarbon
 Targeting at unconventional oil and gas, upstream, FLNG, and Mini-LNG
p jprojects

All Rights Reserved. CHIYODA 20127

2. Outlook for the Business Environment LNG Supply/Demand Outlook
 Increase in demand from the forecast before the Great East Japan
Earthquake. Greater increase in demand is foreseen as a future trend.
400
350MMtppa

300
250
200

Existing Capacity
Capacity under Construction

150

Demand Range

100
2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

SSource:
M d bMadeby Chi
Chiyodad C
Corporation
ti b
based
d on various
iddatat

All Rights Reserved. CHIYODA 20128 Shale Gas Outlook
 Impact
It on LNG projects
j t iin otherth countries
t i iin ththe eventt thatth t
the export of shale gas from North America becomes reality
The export volume from the United States will be limited.
limitedContinued and careful observation is necessary.
 Outlook for the construction of LNG facilities in the UnitedStates and Canada
The United States: 4 projects at FEED stage
Canada: 3 projects at FEED or planning stage Other areas (China, Australia and South America)
Considerable time required to initiate these projects.

All Rights Reserved. CHIYODA 20129Outlook for Overseas Infrastructure MarketRailway

Market size in 2020
High-speed railway: 2 trillion yen
Urban railway:
y 20 trillion yyen

WaterMarket size in 2025
Water and sewerage: 74 trillion yen
Recycled waterwater, seawater desalination
desalination,industrial wastewater treatment: 12 trillion yen
Source: METI (Ministry of Economy, Trade and Industry)

All Rights Reserved. CHIYODA 201210Growth in industries for a low carbon societyy Related investments by Japanese companies will
increase, driven by the commencement of the renewableenergy buyback scheme(Photovoltaic power generation, solar batteries,
polycrystallinelt lli silicon)ili)

Structural
St
uctu a changes
c a ges in tthe
e dodomestic
est c marketa et High value-added projects (chemical, pharmaceutical,new energy,gy sophisticatedpinfrastructure)) Overseas advancement by Japanese companies
 Agingg g facilities,, O&M needs

All Rights Reserved. CHIYODA 201211

3. Key Initiatives in FY 2012
 Achieving quantitative targets
 Net income - 15 billion yen: Solid execution of backlog projects, improvementof profitability, new orders Orders - 350 billion yen: Sales activities to take multiple years into
consideration i.e. FY 2012 and thereafter Strengthening competitiveness Stronger execution power + cost reduction toward streamlined businessstructure Promotion of global operations (development of overseas operating basesand structure) Improving
Iiprofitability
fit bilit Strategy in our core gas and LNG business field Collaboration with business partners
 Further strengthening ties with clients in Japan and overseas
 Improvement in profitability by enhancing execution capabilities

All Rights Reserved. CHIYODA 201212 Sustaining growthPromotion of business investments

Advancement of entering new business fields



Review of the structure of domestic group companies, Approach for PLE*



Response to overseas business expansion by Japanese clients(development of overseas operating bases and structure) Developing the management foundationAdvancement of consolidated management

Cultivation of global human resources and strengthening of resourcemanagementtBusiness process reform and more sophisticated data management*Project Lifecycle Engineering

All Rights Reserved. CHIYODA 201213

Reference Materials

All Rights Reserved. CHIYODA 201214

Major Potential LNG Projects (Before Final Investment Decision)

Yamal

Shtokman
Snohvit

KitimatSabine Pass
Freeport
Cameron

Sakhalin Tr.3

Damietta Tr.2
Idku Tr.3

Vladivostok
Arzew Tr.2

ADGAS Tr.4
Bintulu Tr.9

７＋
BrassOKFLNG

Cameroon

Liquid Niugini Gas
Tangguhgg Tr.3
Mozambique
Pluto2
BrowseScarboroughAngola Tr.2
Maselaand more projects

Arrow Energy

Source: Made byy Chiyoda
yCorporationp
based on various data

All Rights Reserved. CHIYODA 201215

Global Operation

Unit: Person

7,000
6,500

7,350

6,550
1,550

1,650

1,400

1,400

2,100

2,250

2,650

2,900

3 000
3,0002 900
2,9002 800
2,8002 800
2,800

09/3

10/3

11/3

12/3

ChiyodaGroup Companies (Domestic/Overseas)

Global Engineering Satellite**Engineering subsidiaries in India and The Philippines

All Rights Reserved. CHIYODA 201216

Please address inquiries to;

IR and Public Relations Section
TELFAX+81-45-506-7538+81-45-506-7085

URL https://ssl.chiyoda-corp.com/contact/en/index.php
https://ssl.chiyoda corp.com/contact/en/index.php

As from June 44, 20122012, please address to;
TEL+81-45-225-7734
FAX+81-45-225-4962
due to office relocation
Forward-looking Statements
The forecasts and plans in this presentation are based on information available to management on
May 11, 2012, the date these materials were prepared. Actual results may differ significantly fromthese forecasts for a number of factors, including but not limited to changes in economic conditions
and operation environment in Japan and overseas.

17All Rights Reserved. CHIYODA 2012