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In the event there is any discrepancy between the Japanese and English versions, the Japanese version is presumed to be correct.

May 12, 2020
To whom it may concern:
Company name: JGC HOLDINGS CORPORATION
Representative:

Masayuki Sato
Chairman CEO(Code number: 1963, Stock Exchange: Tokyo)
Contact:

Akihiro Yamagami

Manager, Corporate Communication Group
Group Management Development Dept.
(TEL: 81-45-682-8026)

Notice of Revisions to the Consolidated Results Forecasts
Having taken into account recent trends in operating performance and other factors, JGC
Holdings Corporation hereby announces a revision to its consolidated results forecasts forthe fiscal year 2019 ending March 31, 2020 (April 1, 2019 ~ March 31, 2020), which wereoriginally published on May 14, 2019.
I.

Revision of the Consolidated Results Forecast
1. Revisions to the consolidated results forecasts for the fiscal year 2019 ending March
31, 2020 (April 1, 2019 ~ March 31, 2020)(Millions of yen)
ProfitNet Sales

Operating

Ordinary

IncomeIncomeAttributable

Earningsto Owners

per Shareof the(Yen)

ParentPrevious Forecast (A)(Announced on May

500,000

19,00026,00010,00039.63

480,000

20,00022,000

4,000

15.85

△20,000

1,000△4,000△6,000－

△4.0

5.3

△15.4

△60.0－14, 2019)
Revised Forecast(B)
Difference (B－A)
Percentage
Increase / Decrease(%)

(Reference) Results
for the Fiscal Year2018 Ended March

619,241

23,24932,30424,00595.14

31, 2019
2. Main Reasons for the Revision
Although extraordinary income was recorded for the sales of cross-sharing policy sharesand business investment assets, the effective tax rate is expected to rise due to increases
in foreign income taxes for some overseas projects and other factors, and profit
attributable to owners of the parent is projected to undershoot the consolidated results
forecast announced at the beginning of the fiscal year.
The reasons for the difference between the revised forecasts and the previous forecasts
announced at the beginning of the fiscal year are as follows.
(1) Net sales: due to the spread of novel coronavirus infections and the fall in the price of
crude oil, some clients are postponing final investment decisions, which isexpected to result in a small decline in net sales.
(2) Operating income: as a result of conducting detailed surveys on the effects of thespread of novel coronavirus infections on construction projects currently
under way both in Japan and overseas, we have made the decision toassume an impact on the profitability of construction work for some projects.
On the other hand, because improvements in profitability were achieved
following steady progress in multiple projects in Japan and overseas,
operating income is expected to increase slightly.
(3) Ordinary income: as a result of recording allowances for doubtful accounts caused bydeterioration in the businesses of a joint venture partner company, andincreases in foreign-exchange losses, ordinary income is expected to decline.
II.

Dividend Forecast
The annual dividend for the year ending March 31, 2020 remains unchanged at ¥12 pershare, as announced in the beginning of the fiscal year.

(Note) The above forecasts were created based on information available to the Company as of the date that
this revision to earnings forecasts was made, and actual results, etc. may eventually differ from theseforecasts due to a variety of factors.