Financial Results forthe 2nd Quarter of Fiscal Yearending March 31, 2022
November 5, 2021
Chiyoda Corporation© Chiyoda Corporation 2021, All Rights Reserved.

Ⅰ Financial Results
Ⅱ Growth Strategy
Ⅲ Major Ongoing Projects

1

Ⅰ Financial Results2

1 Highlights
1.
Results
Revenue, gross profit, operating income and ordinary
income progressed as forecast.

2.
New Orders
The results include a new copper smelting plantawarded in Indonesia in July 2021 and exceedforecasts.
3

22 Income Statement
Billions of JPY

Difference

Full Year
Forecast
Rev. July 30

Progress

147.4(14.2)

300.049%

11.1

11.9

0.8

26.0

46%

Gross Profit Margin

6.9%

8.1%

+1.2pt8.7%(0.6pt)SG&A Expenses

(6.0)

(5.6)

0.3

(15.0)

38%

Operating Income

5.2

6.3

1.1

11.0

57%

Ordinary Income

4.8

6.0

1.2

9.0

67%

Profit*5.8 (15.3) Note

(21.1)(14.0)N.A.

Exchange Rate
JPY/ USD

106

FY20202Q

FY2021
2Q

Revenue

161.5

Gross Profit

112111Note) Profit increased ¥1.9 billion from negative ¥17.2 billion in 1Q.

••

Extraordinary losses of ¥20.4 billion were recorded in 1Q on the premise of out-of-court
settlement with the client related to the Ichthys LNG project.
An out-of-court settlement was reached, as disclosed on Oct. 15, 2021.

* Profit attributable to owners of the parent

4

33 Profit Analysis
Billions of JPY

FY2021 2Q Results
FY2020 2Q Results

Gross Profit

SG&A

11.1

11.9 (+0.8)

Global1.3
Environment

3.3

9.8

8.6

Energy（ ）： Compared to FY2020 2Q results(6.0)(5.6) (+0.3)

OperatingIncome

5.2

6.3 (+1.1)

5

44 Balance Sheet
Billions of JPY

2021
2021
Mar. 31 Sep. 30
Current Assets

2021
2021Mar. 31 Sep. 30

Difference

305.9 279.7 (26.2)

Current Liabilities

244.7

240.3

Difference(4.3)

Cash and Deposits

107.0

71.2 (35.8)

Operating Liabilities*³

190.0

168.9 (21.0)

Operating Assets*¹

57.3

55.2

(2.1)

Provision for Loss on
Construction Contracts

34.4

34.6

0.2

Accounts
Receivable - Other

77.3

73.9

(3.3)

Non-current liabilities

48.2

48.2

0.0

Jointly Controlled
Assets of JV *²

56.8

67.3

10.4

Long-Term Loans
Payable

45.0

45.0

0.0

Non-current Assets

23.7

23.4

(0.3)

Net Assets

36.7

14.5 (22.3)

Liabilities andNet Assets

329.6

303.0 (26.6)

Total Assets*1

329.6 303.0 (26.6)

Operating assets： Notes receivable, accounts receivablefrom completed construction contracts, costs on
uncompleted construction contracts + contract assets*2 Jointly controlled assets of JV： Cash and deposits of joint
venture proportional to Chiyoda’s interest*3 Operating liabilities： Notes payable, accounts payable forconstruction contracts + contract liabilities (advances
received on construction contracts in progress)

Shareholders’ Equity
Shareholders’ EquityRatio

36.4 14.1*4 (22.3)
11.0%

4.7％ (6.4pt)*4 Shareholders’ Equity increased ¥1.9 billion

from ¥12.4 billion in 1Q.

652 New Orders / Backlog
Billions of JPY

New Orders*1Backlog*2

Energy

22.7

918.9

Global Environment

338.5

413.5

361.2 *3

1,332.4Total*3 New Orders are 120% of forecast ¥300 billion.

Major Backlog Projects

EnergyGlobal Environment*1 New Orders for FY2021 2Q*2 Backlog as of September 30, 2021

More than ¥100 billion•••

Qatar LNG
Golden Pass LNG

Copper smelting plantin Indonesia

More than ¥10 billion•Tangguh LNG•

Vaccine Constituent
Producing Facility
Energy Storage
SystemBiomass Firing
Power Plant••7Att.1

Revenue Breakdown
Billions of JPY【FY2021 2Q】

Regional

Business
18%

39%

28%

52%
20%

22%
13%

ENERGY

109.0

OVERSEAS

90.2

LNG Plant, Gas Related Work

76.1

Middle East & Africa

41.3

Refinery, Petrochemical

32.9

Americas

29.7

38.4

Asia & Oceania

19.2

Pharmaceutical, Biochemistry, Chemical

12.6

Others0.0

Environment, New Energy, Infrastructure, Others

25.8

DOMESTIC

57.2

TOTAL

147.4

ENVIRONMENT

TOTAL

147.4

8Att.2

New Order Breakdown
Billions of JPY【FY2021 2Q】

Regional

Business

12%

86%

87%

ENERGY

22.7

OVERSEAS

316.4

LNG Plant, Gas Related Work

6.7

Middle East & Africa

2.6

Refinery, Petrochemical

16.0

Americas

4.5

338.5

Asia & Oceania

Pharmaceutical, Biochemistry, Chemical

24.7

Others0.0

Environment, New Energy, Infrastructure, Others

313.8

DOMESTIC

44.8

TOTAL

361.2

ENVIRONMENT

TOTAL

309.3

361.2

9

Att.3

Backlog Breakdown
Billions of JPY【 September 30, 2021 】

Regional

Business

27%
24%

66%

56%

10%

ENERGY918.9OVERSEAS

1,210.6

LNG Plant, Gas Related Work

885.3

Middle East & Africa

748.0

Refinery, Petrochemical

33.7

Americas

137.5

413.5

Asia & Oceania

325.1

Pharmaceutical, Biochemistry, Chemical

55.4

OthersEnvironment, New Energy, Infrastructure, Others

358.1

DOMESTIC

TOTAL

1,332.4

ENVIRONMENT

0.0

TOTAL

121.8
1,332.4

10

Ⅱ Growth Strategy

111III Copper Smelting Plant Commenced
ProjectClient
ScheduledCompletion
Status

Copper Smelting Plant in Indonesia
P.T. Freeport Indonesia
2024••Engineering and procurement commenced
Construction commenced in Sep. 2021.
Ground breaking ceremony attended byPresident Joko in Oct. 2021.

Ground breaking ceremony (President Joko in the center)【Significance】
 Copper plays a key role
towards a carbon-freesociety World’s largest single line
production capacity
 Complies with IFC*
environment guidelines*International Finance Corporation

President Joko (center) visits the construction site12

2III Hydrogen Business
Commercializing Chiyoda’s competitive ‘in-house’ technology is progressing
01

Receiving and distributing importedhydrogen in Chubu

Appointed by NEDO*1 to conduct a joint
feasibility with Sumitomo Corporation, Toyota
Motor Corporation, Japan Research Institute,Ltd. and Sumitomo Mitsui Banking Corporation.

02

Importing hydrogen towards
decarbonization

AHEAD*2 supplies ENEOS petroleum refineries
with hydrogen produced in Brunei in anticipationof a hydrogen-oriented society towards
decarbonization.

03

CO2-emission free hydrogen supply
chain

04

International hydrogen supply
chain in the Netherlands

Joint-study with the Port of Rotterdam
Authority, Koole Terminals and Mitsubishi
Corporation aiming for the port to become ahub in Europe for importing hydrogen.

05

International hydrogen supply
chain in Singapore

MOU for a strategic partnership with Sembcorp
Industries, a leading energy and urban solution
provider, and Mitsubishi Corporation to developa hydrogen supply chain supporting
decarbonization.

Joint study with ENEOS Corporation andQueensland University of Technology.
The world’s first hydrogen supply chain
demonstration, from production of green hydrogenin Australia to fueling FCV battery chargers.
*1 New Energy and Industrial Technology Development Organization*2 Advanced Hydrogen Energy Chain Association for Technology Development

MOU signing ceremony

13

3III Life Science
Executing EPC for an additional line of
Vaccine Constituent Production Facility• Production facility of a novel corona virus vaccine drug substancefor SHIONOGI CO., Ltd.
• Completed one production line in March 2021
• Executing EPC for an additional line and affiliated facilities

Image of vaccine constituent production facility

14

4III Digital Transformation
Presented the positive effects of EFEXISTM*1with ADNOC LNG*2 at Gastech 2021
Developed a Foaming Prediction AI System*3, optimizing LNG plant
operation by integrating operational data from ADNOC LNG,
Chiyoda’s engineering expertise and digital/AI technologies.

*3

Presentation with ADNOC LNG at Gastech 2021

Predicts ‘foaming’ during acid gas
removal in LNG plants/refineries
contributing to stable operation.
Link to EFEXIS website*1 Digital solution to optimize clients’ autonomous plant operation*2 Signed an MOU with ADNOC LNG in 2018 to provide digital technologies, AI and big data on its facilities

15

Ⅲ Major Ongoing Projects

161III Major Ongoing Projects (Energy)
Tangguh LNG,Indonesia*1

Project

Texas Ethylene, USClient

Gulf Coast GrowthVentures(ExxonMobil & SABIC JV)BP Berau Ltd.

Golden Pass Products(ExxonMobil and QatarEnergy*2JV)JV Partner

Kiewit Energy Group Inc.

Saipem, Tripatra

Zachry, McDermott

ScheduledCompletion

2021 4Q

20222025Status•••MechanicallycompletedProjectGolden Pass LNG, USConstruction ongoing

Engineering, procurement
and construction ongoing

NFE LNG, Qatar

ClientQatarEnergy*2

JV Partner

Technip Energies

ScheduledCompletion

2027

Status••Engineering, procurement andconstruction planning ongoing
Ground breaking ceremony onsite in October 2021

*2 Qatar Petroleum prior to October 2021

*1 Tangguh LNG, Indonesia

172III Major Ongoing Projects (Environment)
Project

Vaccine Constituent
Producing Facility

Energy Storage System

Biomass Firing PowerPlant

Field

Life ScienceEnergy Management

Renewable Energy

ClientSHIONOGI & CO., Ltd.

North Hokkaido Wind
Energy Transmission Corp.

Sodegaura Biomass
Power Co., Ltd.

ScheduledCompletion

FY2022

FY2023 1Q

FY2022 2QStatus•••

Executing EPC for an
additional line andaffiliated facilities

Construction ongoing

Construction ongoing

Energy storage system construction site18

Sustained Growth and Reinforcing
Our Reputation for Reliability

Energy and Environment in Harmony
Chiyoda Corporation Corporate Services Department IR, PR & CSR Section, https://www.chiyodacorp.com/en/Forward-Looking Statements: Any projections included in these materials are based solely on information available at the time thispresentation was prepared. It is possible that actual results may vary significantly from 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.
Investor are recommended not to depend solely on these projections for making investment decisions.

© Chiyoda Corporation 2021, All Rights Reserved.

19