<<Translation>>

March 23, 2016
Company Name: Chiyoda Corporation
President & CEO: Shogo Shibuya
Stock Code: 6366
Stock Listings: First Section of the Tokyo Stock Exchange
Inquiries: Nobuo Sekita
SL, Accounting Section
Telephone: +81-45-225-7745

Notice of Revisions to the Forecast of Consolidated Results and Dividend
Chiyoda Corporation (“Chiyoda”) announces today the following revisions to the consolidated
financial forecast and dividend forecast for the fiscal year ending March 31, 2016, which wereannounced on May 14, 2015.
1.

Revisions to the full year consolidated financial forecasts for the fiscal year ending March 31,2016 (from April 1, 2015 to March 31, 2016)(Millions of yen)
Revenues

OperatingincomeOrdinary
incomeProfitattributableto ownersof parent

BasicEarnings
per share(Yen)

Previous forecast (A)600,000

20,00022,00012,00046.33

Revised forecast (B)

580,000

11,00014,500

2,500

9.65

Increase (decrease) (B-A)(20,000)(9,000)(7,500)(9,500)－(3.3)(45.0)(34.1)(79.2)－

480,979

21,46622,271

11,02942.58

Percentage increase (decrease) (%)(Reference)
Results for the FY ended March 31, 20152.

Reasons for Revisions
The forecast for operating income is expected to be lower primarily due to the increase inconstruction costs to meet delivery schedule for some petroleum related projects of which thegross profit margins are below the healthy range, as well as worsening performance of overseas
group companies, affected by prolonged tumble in oil price. Meanwhile, we expect an increasein foreign exchange gains in ordinary income due to the impact of foreign exchange contract in
the case of exchange rate fluctuations.

<<Translation>>

In addition, as shown in the “Notice of Extraordinary Loss (Goodwill Impairment)” issued today
separately, we also revised the forecast of profit attributable to owners of parent due toGoodwill Impairment as extraordinary losses caused by acquisition of the shares of a groupcompany in England.
Chiyoda will enhance more rigorous management for profit and loss, especially for the ongoing
low profit projects and for the Group Companies.
Chiyoda also revised the exchange rate assumption used for the above forecasts from 120 yen
to 115 yen to the U.S. dollar.
3.

Revision to the year-end dividend forecast
Cash Dividend
Previous forecast(announced on May 14, 2015)
Revised forecast(Reference)
Results for the FY ended march31, 2015

4.

Dividend per Share (Yen)Year EndYear Total
14.00

14.00

8.00

8.00

13.00

13.00

Reasons for the revisions to the dividend forecast
Chiyoda sets its target payout ratio of over 30% of consolidated profit attributable to owners ofparent and forecasts 14.00 yen per share for the fiscal year ending March31, 2016.
Chiyoda sincerely regrets to announce the revised dividend amount for the full year to 8.00 yen
per share after having considered excluding the extraordinary loss due to the decrease in profit
attributable to owners of parents forecast.

5.

Responsibility of corporate management
In order to correctly recognize the managements’ responsibility for the above revision, we will
resolve to cut the management compensation.

6.

Forward-looking Statements
The forecasts and plans in this announcement are based on the information available tomanagement on March 23, 2016, the date these materials were prepared. Actual results may
differ significantly from these forecasts for a number of factors, including but not limited tochanges in economic conditions and operating environment in Japan and overseas. We strongly
request not to rely only on this forecast, in making investment decisions.