Financial Results in Brief
for 1st Half of FY 2002
(Ended September 2002)- Consolidated November 2002

1. Brief Statement of Operation (Consolidated)
Unit: Hundred Million Yen (HMY)ACTUALACTUAL
1st Half, FY 2001 1st Half, FY 2002

Variance

FORECAST
1st Half, FY 2002
(As of the beginning of FY 2002)(Ended Sep. '01)

(Ended Sep. '02)

New Orders

991

1,012

21

− ＊1

Backlog of Orders

1,985

2,672687−

Revenues

716693- 23800

Operating Profit- 191029− ＊2

Ordinary Profit- 18163415Net Profit

225233＊1＊1 Not announced the 1st Half Forecast.
Whole-year forecast for FY 2002 was announced as follows:

2,200 HMY, New Orders
2,800 HMY, Backlog of Orders＊2 Not announced the 1st Half Forecast.
Whole-year forecast for FY 2002 by 17 HMY was announced.

・ NEW ORDERS: Received steadily

BACKLOG OF ORDERS: Largely increased

・ REVENUES: A little lower than the forecast in the beginning of FY 2002,
due to the delay of the award

・ OPERATING PROFIT
ORDINARY PROFIT: Both returned to the black as planned

・ NET PROFIT: Recorded more by 22 HMY than the forecast

2. Balance Sheets in Brief (Consolidated)
Unit: Hundred Million Yen
Mar. 31,Sep. 30,

2002

2002

1,023

1,104

81

Cash & Time Deposits

405

401

-4

Major Assets

515

563

Others103

Fixed Assets

270

Current Assets

Assets Total

1,293

Mar. 31, Sep. 30,

Variance

Variance

2002

2002

1,009

1,036

27

Short-term Loans

175

130

- 45

48

Major Liabilities

741

816

75

140

37

Others

93

90

- 3

241

- 29 Fixed Liabilities

133

138

5

Long-term Loans

107

105

-2

Others26

33

7

Shareholders’ Equity

151

171

20

Liabilities &Shareholders’ Equity1,293

1,34552

1,34552

Current Liabilities

Major Assets＝ Notes Receivable, Accounts Receivables, and Cost of Construction in Progress

Major Liabilities＝ Notes Payable, Accounts Payable, and Advance Receipt of Contract

Bank Loans＝ Short-term Loans 130 ＋Long-term Loans 105＝ 235 Hundred Million Yen

・ BANK LOANS: Reduced, as well as last year, by 46 HMY to 235 HMY

・ CASH & TIME DEPOSITS: Recorded 401 HMY, almost same as those on March 31, 2002

・ NET DEBT
: No net debt, recorded net deposit by 165 HMY

・ FIXED ASSETS: Reduced by 29 HMY due to collection on long-term receivable, etc.

・ SHAREHOLDERS’ EQUITY PER TOTAL ASSETS: Improved to 12.7% (11.7% as of March 31, 2002)

1,800 HMY on nonconsolidated basis

3. New Orders (Consolidated)
Hundred Million Yen

2,900

2,672

3,000
2,461
2,500
1,985
2,000
1,476

1,643
1,455

1,394

1,500
1,020
1,000

306

500

714

1,281
991

583
570
209

FY 1999597899811
389

1H, FY2000＜40%＞

FY 2000

New Orders (Domestic)

1,600
1,012

602361

02,2002,180

1H, FY 2001
＜45%＞

600415FY 2001

1H, FY 2002
＜46%＞

New Orders (Int'l & LNG)

Backlog (Total)

FY 2002(Forecast)

Ratio against wholeyear amount【Major Awards in 1st Half of FY 2002 】
DivisionAmountLNG & International

100 HMYand above

Methanol, its Utility & Offsite (Saudi Arabia)
LNG (Qatar) ＊LPG Storage Terminal ＊under100 HMY

Acetic Acid (China)

Specialty Chemicals(Mitsubishi Gas Chemical)＊ Awarded as a joint venture (JV)

Domestic(Amount shows that for Chiyoda among JV.)

・Expecting new orders of 2,200 HMY (consolidated) /1,800 HMY (non-consolidated) in FY 2002 (ended March 2003)
・Backlog to be almost 2,900 HMY (consolidated)【Domestic Market】Growing steadily in business areas with our advantages
LNG Receiving Terminals
LPG Storage Terminals

EnvironmentalPreservation

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

LNG
Olefins and Other Chemicals
with Larger Plant Capacity【Chiyoda’s Strategy】
・Strengthen business with clients/areas where we have good contacts
・Strengthen competitiveness (price, technology & project execution)・Acquire repeat orders and designated awards

4. Operational Forecast for FY 2002 (Ended March 2003)(Consolidated)
Unit: Hundred Million Yen
PLAN
FY 2002ACTUALFY 2001

UPDATED FORECAST(Ended Mar. '02)

(Ended Mar. '03)

New Orders

2,180

2,200

20

2,200

Backlog of Orders

2,461

2,900

439

2,800

Revenues

1,415

1,700

285

1,800

Operating Profit

- 51

1566

17

Ordinary Profit

- 34

1953

20

Net Profit

118175FY 2002

Variance(As of the beginning of FY 2002)

・ REVENUES: A little lower than the forecast in the beginning of FY 2002,
due to the delay of the award: However, to be increased by 20% as compared with those in FY 2001

・ OPERATING PROFIT
ORDINARY PROFIT: Both to be returned to the black, non-consolidated basis as well・ NET PROFIT: To be increased more than the forecast in the beginning of FY 2002