Chiyoda Corporation (6366)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2022

Abridged Translation:
The report is not audited and this translation is an abridged version prepared based on the statutory format
in Japan for reference purpose only. If there is any discrepancy between this translation and the original
Japanese version, the Japanese shall prevail.

Consolidated Financial Results
for the Fiscal Year Ended March 31, 2022
May 10, 2022
Company name:
Listing:
Stock code:
URL:
Representative:
Inquiries:TEL:

CHIYODA CORPORATIONTokyo Stock Exchange
6366
http://www.chiyodacorp.com/en/
Masakazu Sakakida, Chairman of the Board, President& CEO
Masaru Akiyama, General Manager, Accounting Department+81-45-225-7281

Date of general shareholders' meeting:
Dividend payable date:
Supplementary Explanation Material:
Financial Results Presentation:

June 23, 2022
Yes
Yes

Annual securities report filing date: June 23, 2022

(Millions of yen with fractional amounts discarded, unless otherwise noted)

1. Consolidated performance for the fiscal year ended March 31, 2022
(1) Consolidated operating results(Percentages indicate year-on-year changes)

Net sales

Operating income

Profit attributable toowners of parent

Ordinary income

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

311,115(1.4)

10,54550.3

11,431

35.1(12,629)－

315,393 (18.3)

7,015(73.8)

8,462(54.6)

7,993(34.4)

Fiscal year ended
March 31, 2022
Fiscal year ended
March 31, 2021
Note: Comprehensive Income:Fiscal year ended March 31, 2022: (17,272)
Fiscal year ended March 31, 2021: 11,847

Net income Fully diluted net
per share income per share
Yen

Return on
Equity(ROE)Yen

Fiscal year ended(56.88)－March 31, 2022
Fiscal year ended
22.76
8.20
March 31, 2021
Reference: Equity Gains (Losses) of Affiliated Companies

million yen / (－%)
million yen / ((17.6)%)

Ratio of ordinary
Ratio of operating
Income to Total assets income to revenue%%%(48.5)

3.2

3.4

26.3

2.4

2.2

Fiscal year ended March 31, 2022: (321) million yen
Fiscal year ended March 31, 2021: 33 million yen(2) Consolidated financial position
Total assets
Millions of yen

As of March 31, 2022
As of March 31, 2021
Reference: Equity

Net assets

Equity ratio

Millions of yen

395,396
15,761
329,583
36,747
Fiscal year ended March 31, 2022:
Fiscal year ended March 31, 2021:

Net assets per share
%

Yen

4.0
11.0

(218.11)(143.94)

15,654 million
36,399 million(3) Consolidated Cash Flow
Net cash provided by
Fiscal year ended
March 31, 2022
Fiscal year ended
March 31, 2021

Financing Activities

Cash and equivalents,
end of period

Operating activities

Investing Activities

Millions of yen

Millions of yen

Millions of yen

Millions of yen(25,591)(3,787)(4,197)

69,099(20,806)(2,250)9,478

98,738

Chiyoda Corporation (6366)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2022

2. Cash dividends
Cash dividends per share
Record date

First quarter

SecondquarterThird quarter

Fiscal yearend

AnnualPayment of
Payout ratio Dividend on
cash(consolidate) equity ratio
dividends

Yen

Yen

Yen

Yen

Yen Millions of yen%%

Fiscal year ended
March 31, 2021

－

－

－

0.00

0.00

0

0.0

－

Fiscal year ended
March 31, 2022

－

－

－

0.00

0.00

0

－

－

Fiscal year ending
March 31, 2023
(Forecast)

－

－

－

－

－

－

3. Consolidated earnings forecasts for the fiscal year ending March 31, 2023
(from April 1, 2022 to March 31, 2023)(Percentages indicate year-on-year changes)

Net sales
Fiscal year ending
March 31, 2023

Operating income

Profit attributable toowners of parent

Ordinary income

Net income
per share

Millions of yen%

Millions of yen%

Millions of yen%

Millions of yen%

Yen

500,000

60.7

20,00089.7

18,00057.5

11,500－36.30

4. Others(1) Changes in Significant Subsidiaries during the Period(Changes in specified subsidiaries accompanying changes in the scope of consolidation): None
(2) Changes in Accounting Policies and Accounting Estimates / Restatements
a. Changes in accounting policies due to revisions of accounting standards, etc.:
b. Changes in accounting policies other than a. above:c. Changes in accounting estimates:
d. Restatements:

Yes
None
None
None

(3) Number of issued shares (common stock)a. Total number of issued shares at the end of the period (including treasury stock)
As of March 31, 2022
260,324,529 shares
As of March 31, 2021
260,324,529 sharesb. Number of treasury stock at the end of the period
As of March 31, 2022
1,357,766 shares
As of March 31, 2021
1,357,723 sharesc. Average number of shares during the period
Year ended March 31, 2022
258,966,765 sharesYear ended March 31, 2021
258,966,906 shares##This report is not reviewed by auditor.
Proper use of earnings forecasts, and other special directions
The forward-looking statements, including earnings forecasts, contained in these materials are based on information
currently available to the Company and on certain assumptions deemed to be reasonable. Actual business and otherresults may differ substantially due to a number of factors.

Dividend Status of Class A SharesClass A Share
Cash dividends per share
Record date
First quarter Second quarter Third quarter Fiscal year-end
Yen
Yen
Yen
Yen
Fiscal year ended
20.78
March 31, 2021
Fiscal year ending
0.00
March 31, 2022
Fiscal year ending
March 31, 2023
(Forecast)

Annual
Yen
20.78
0.00
-

Chiyoda Corporation (6366)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2022

Table of Contents for the appendices1.

Qualitative Information Related to Consolidated Performance ................................................... 2(1)

Qualitative Information on Business Performance .............................................................. 2(2)

Financial Information on Business Performance ................................................................. 4(3)

Outlook ............................................................................................................................... 4(4)

Basic Dividend Policy and Dividend Distributions for the Year Ended March 31, 2022 andthe Year Ending March 31, 2023 ................................................................................................... 6(5)

Business Risks ................................................................................................................... 62.

Accounting Standard Selection Policy...................................................................................... 113.

Consolidated Quarterly Financial Statements .......................................................................... 12

4.

(1)

Consolidated Balance Sheets ........................................................................................... 12(2)

Consolidated Statement of Income and Comprehensive Income ...................................... 14(3)

Consolidated Statement of Changes in Equity .................................................................. 16(4)

Consolidated Statement of Cash Flows ............................................................................ 18

Production, Contracts and Sales .............................................................................................. 20

5. Others ...................................................................................................................................... 20

1

Chiyoda Corporation (6366)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2022

1. Qualitative Information Related to Consolidated Performance(1) Qualitative Information on Business Performance
The future of the global economy in this consolidated fiscal year remains volatile under COVID-19 and thegeopolitical crisis in Ukraine.
The Group prioritizes the health and safety of employees and stakeholders and we are executing ongoingprojects while cooperating with clients to promptly implement the required measures against the pandemic andthe unstable global situation.
The business environment in which we operate is also undergoing significant changes that we are embracing
for future development, including the accelerating transition to decarbonization/hydrogen energy, theincreasing drive towards low-carbon and renewable energy and the evolution of innovative digital technologies.
In May 2021 we updated our medium-term management plan ‘Revitalization for the Future’, under which wewill reinvigorate existing businesses underpinning our earnings, while accelerating initiatives in new businessfields.
While securing reliable income streams from existing businesses, we aim to strengthen new businesses ingrowth fields, such as renewable energy, hydrogen, carbon cycling, energy management and life sciences. Byleveraging digital transformation to add value to our business model, our aim is to rejuvenate our businessportfolio, ensure a stable income base, achieve sustainable growth and further enhance enterprise value.
On consolidated basis, for the fiscal year ended March 31, 2022, New Orders amounted to 415,940 million
yen (down 53.7% YoY), Revenues amounted to 311,115 million yen (down 1.4% YoY) and Backlog amounted
to 1,331,014 million yen (up 18.2% from last FY). Operating Income is 10,545 million yen (up 50.3% YoY) and
Ordinary income is 11,431 million yen (up 35.1% YoY). Extraordinary losses of 20,374 million yen are related
to the ICHTHYS LNG project, resulting in a profit attributable to the owners of the parent of negative 12,629
million yen (a profit of 7,993 million yen was recorded last FY).
The impact of COVID-19 varies according to the project and although its influence on the progress of someprojects has been recognized, most projects are progressing, with some realizing cost reductions andincreased profits. The impact of the geopolitical crisis in Ukraine is stated in (3) Outlook and (5) Business Risks.
The figures provided have been estimated following current and reasonable assessments of these influences.
Revenue and Cost of Completed Work have been recorded reflecting assessments of total construction costs,
the calculation base of construction progress.
Further information regarding reportable engineering business segments is presented below.
Energy

LNG / Gas
【Overseas】
Chiyoda is executing the engineering, procurement and construction (EPC) phase of liquefied natural gas(LNG) plants in Qatar, the USA, Indonesia and Nigeria. In Qatar, the EPC phase for the North Field East (NFE)
project, an expansion of four LNG trains with capacities of 7.8 million metric tons per annum each, is underway
and a group company is renovating and repairing LNG/gas processing plants. In the USA, the Golden Pass
LNG project is also in the EPC phase. In Nigeria, we are providing reviews and other technical support to ourpartner performing the engineering on an LNG project.
【Japan】
We are in the EPC phase of projects to reinforce, modify and repair existing LNG terminals previously
constructed by Chiyoda, construct new gas supply facilities for thermal power plants and have completed
earthquake and tsunami reinforcement EPC work.
Refinery/Petrochemical
Overseas, an ethylene plant on the Gulf of Mexico in the USA was mechanically completed ahead of schedule2

Chiyoda Corporation (6366)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2022

and we are executing the EPC + commissioning (EPCC) phase for a residue fluid catalytic cracking (RFCC)
plant in Malaysia.
In Japan, we are working to improve the competitiveness of oil refineries, upgrading equipment, examining
measures for energy saving/carbon neutrality and examining compliance with the Basic Act for National
Resilience. We have also completed work on existing facilities to meet sulfur content restrictions in bunker fuelfor ships. In the petrochemical field, we are executing a new functional materials project.
Environment

Pharmaceutical/Biochemistry/General Chemistry
The EPC phase is underway on a recombinant protein vaccine production facility expansion project, theaddition of ancillary facilities for SHIONOGI & CO. Ltd and the EPC phase for a biopharmaceutical substancemanufacturing plant is ongoing. Chiyoda decided to participate in a joint venture, established by Shionogi
Pharma Co., Ltd., to conduct contract development and manufacturing of active pharmaceutical ingredients(API’s) and intermediates, using Continuous Manufacturing (CM) technology to implement Chiyoda’s
continuous flow synthesis technology.
In general chemistry, we are realizing carbon recycling as part of a collaboration project with industry,
government and academia to research and develop CO 2 capture technology, using CO2 as a raw material toproduce para-xylene (PX). We are also conducting basic engineering for a client’s waste plastic recycling
business.
We are strengthening our capabilities in indoor vertical farming and promoting the development of commercial
facilities.
Environment/New Energy/Infrastructure
We are installing flue gas desulfurization (FGD) equipment in coal-fired power plants in India as they tighten
environmental regulations and Chiyoda’s thoroughbred 121 (CT-121) FGD process has been installed in a
number of plants.
In Japan, we are partially remodeling and providing operational support for a demonstration project to separate,recover and store CO2 (carbon capture and storage (CCS)) from thermal power plant fuel gas and are in the
EPC phase for flue gas desulfurization equipment installation in a coal-fired power plant.
In the carbon capture and utilization (CCU) field, we are collaborating with Blue Planet Systems Corporationand Mitsubishi Corporation to develop and commercialize technology to use the CO 2 in exhaust gas in the
manufacture of aggregates as the raw material for concrete.
Chiyoda is executing the EPC phase for the world’s largest battery energy storage plant, a photovoltaic (megasolar) facility and Japan’s largest biomass power plant using wood pellets as fuel. We are also considering
entering the field of offshore wind farms, expected to grow into a sizeable market in the future.
We are executing the EPC phase of MSP project, a copper smelting project in Indonesia, awarded in July
2021, and are executing the EPC phase of a polypropylene polymerization catalyst manufacturing plant inJapan.
Hydrogen business (hydrogen/ammonia) is presented below.
We continue to leverage on our leading position in SPERA hydrogenTM technology and have entered into an
MOU with the Port of Rotterdam Authority, Koole Terminals and Mitsubishi Corporation to study the possibilityof constructing an international hydrogen supply chain by importing hydrogen on a commercial scale throughthe port of Rotterdam. Studies to realize a clean hydrogen supply chain in Singapore also continue, in
cooperation with Mitsubishi Corporation and several Singaporean companies including Sembcorp Industries,
an integrated utilities and urban development firm. In a world first, Chiyoda, ENEOS Corporation (ENEOS) andthe Queensland University of Technology (Australia) succeeded in filling a fuel cell electric vehicle in Japan
with CO2-free hydrogen and we continue to cooperate in the technological verification of producing,transporting and dehydrogenating CO2-free hydrogen. The Advanced Hydrogen Energy Chain Association

3

Chiyoda Corporation (6366)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2022

for Technology Development (AHEAD) achieved the world first milestone of transporting hydrogen overseas,in the form of methylcyclohexane (MCH), to an ENEOS oil refinery receiving facility in Japan using a chemical
tanker. As an associate member of AHEAD, Chiyoda manufactures MCH in Brunei Darussalam as part of theirglobal hydrogen supply chain demonstration project subsidized by the New Energy and Industrial Technology
Development Organization (NEDO). ENEOS uses the MCH for their ongoing demonstration project.
In the ammonia field, Chiyoda is leading a NEDO Green Innovation Fund initiative to research and develop
innovative ammonia synthesis catalysts and reduce ammonia production costs.
We are also conducting studies on ammonia receiving equipment and hydrogen fuel supply in Japan.
Please refer to 4. ‘Production, Contracts and Sales’ for further details of New Contracts, Net Sales and Contract
Backlog, by segment.

Further information regarding our digital technology business is presented below.
We have established Chief Digital Officer (CDO) Office to accelerate company-wide digital transformation (DX),
cultivate digital expertise as a DX foundation in the development of a digital culture and pursue the following
three initiatives:(a) Project Execution DX
We are sequentially implementing systems required to apply Advanced Work Packaging (AWP) on major
ongoing projects to enhance our EPC execution management capabilities. As part of PlantStream Inc, ajoint venture with Arent Inc, we are developing a revolutionary system that reduces the number of spacedesign processes required in basic plant design by approximately 80%, enabling 3D models to be createdapproximately five times faster and are marketing the technology to plant owners and EPC contractors
around the world.
(b) Corporate Management DX
We are leveraging digital technologies to develop the remote working environment, deploying robotic
process automation to improve administrative efficiency and implementing electronic authentication andelectronic contracts.
(c) DX BusinessWe are promoting EFEXISTM, a plant operations optimization solution that combines our engineeringexpertise, digital AI technology and Mirai Fusion (digital platform solution for industrial equipment andplants in development with Cognite and Mitsubishi Corporation), for domestic and international marketing.

(2) Financial Information on Business PerformanceThis section is not translated.

(3) Outlook
1) Earnings outlook for the year ending March 31, 2023
We are executing NFE LNG project in Qatar awarded in February 2021, MSP project, a copper smelting
project in Indonesia awarded in May 2021, as well as other major LNG projects in the USA and Indonesia,
by concentrating resources in these projects as our top priority. We reached out-of-court settlements with theclient and subcontractors respectively regarding the discussions and arbitration related to the ICHTHYS LNG
project.
Additionally, an update to the 2019 ‘Revitalization Plan – Initiatives for Revitalization and the Future’ wasapproved by the Board of Directors on May 7, 2021. We will continue to work towards rebuilding our risk
management system, evolving our EPC execution management capabilities, and broadening our pool oftalent, all of which are important initiatives. At the same time, we will also work to address the acceleratingtransition to a carbon-free society and the oil and gas industry's rapid transformation. Furthermore, we will
strengthen our operations in the fields of renewable energy and pharmaceutical and life sciences business,4Chiyoda Corporation (6366)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2022

while also forging ahead on our effort to make exhaustive use of digital technologies to transform operations
throughout the company.
2) Management policy, business environment, and issues requiring attention
On May 9, 2019, the Board of Directors approved a resolution concerning a third-party allotment of newly
issued shares and new borrowing, and on the same day the company signed a Memorandum ofUnderstanding concerning the framework for turnaround assistance from Mitsubishi Corp. and MUFG Bank,
Ltd. as well as an agreement with Mitsubishi Corp. to take up the newly issued shares, all of which areintended to strengthen Chiyoda’s financial position and business operations. We also drafted the‘Revitalization Plan – Initiatives for Revitalization and the Future’ Medium-Term Management Plan (MTMP).
In consideration of business environment transformation such as accelerated transition to carbon-free society
and hydrogen-based society, increasing demand for LNG, low carbon energy and renewable energy, theBoard of Directors approved the update to the MTMP on May 7, 2021. We reviewed major client strategies
to align with transformations and growth in new market opportunities. Since our founding, we havedemonstrated solution optimize ability offered for complex constraints and challenges, EPC execution ability
to optimize engineering and ensure quality, and the application ability of new technologies fusing basic
research and EPC expertise. By leveraging these strengths we will accelerate the transition to a carbon-freesociety, including hydrogen energy, and carbon neutrality by 2050. By transforming our business portfolio on
two fronts—growing carbon neutrality and life science contribution fields and creating and strengthening
recurring business models—we aim to achieve a 50:50 split in profits between existing and new businesses.
Our objective is to transform our earnings structure generating consolidated-basis net profits in excess of 30
billion yen.

With an eye towards achieving this long-term goal, along with solid project execution in existing EPC fields
to secure earnings and taking up blue-chip projects in new EPC fields to build up earnings, we are pursuinga variety of initiatives, planting the seeds for new business fields, and working to grow them. To strengthen
our financial position, we are improving our shareholders' equity ratio, eliminating accumulated losses, andlowering fixed costs.
We completed Yosemite ethylene project in the USA ahead of schedule. We are also diligently executing theconstruction work needed to bring to completion the Tangguh LNG project in Indonesia and Golden Pass
LNG project in the USA. The engineering, procurement and construction phases of the NFE project and MSP
project have also moved into high gear.
We regard the life science, next-generation energy, and carbon neutrality field as the three main pillars ofgrowth in the environment business. In addition to planting the seeds for future earnings growth, in the life
science field, along with winning orders for socially significant pharmaceutical plants, we have decided toparticipate in a joint venture with Shionogi Pharma Co., Ltd. with the aim of developing Continuous
Manufacturing technology for active pharmaceutical ingredients and intermediates and commercializing acontract development manufacturing business using such technologies.
The Frontier Business Division focuses on three business fields: carbon cycle businesses mainly revolving
around clean tech, utility businesses in the era of data and decentralization, and pharmaceutical and life
sciences businesses revolving mainly around solutions for unsolved technical issues. The division is

5Chiyoda Corporation (6366)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2022

commercializing a hydrogen chain business that is largely based on our own technology, as well as
technologies developed by Chiyoda and other companies that effectively utilize carbon dioxide as a valuable
resource. It is also building a system and business model to provide optimal energy as a service by using
Chiyoda expertise and digital technologies to connect distributed power sources to diverse energy demands.
It is also commercializing a new technology related to the cell culture process, which is key to advances inregenerative medicine.
We are developing digital products that contribute to the optimization and automatization of plant operations,mainly in the oil & gas industry, by deepening our knowledge of AI technologies and data analysis, andcombining this with our inherent plant engineering technology and expertise while developing our humanresources. In order to improve the efficiency of plant space design, we formed a new 50:50 joint venture,
PlantStream Inc., with Arent Inc. to combine Chiyoda’s experience and knowledge of fundamental concepts
in plant engineering with Arent’s CAD and optimization technology and bring this to plant owners and EPC
contractors around the world.
In HR & DX Division, we launched a joint venture with IT giant TIS Inc. in order to grow and evolve the Group’s
own IT infrastructure to keep up during these rapidly changing times. Chief Digital Officer (CDO) Officecultivates digital expertise as a DX foundation and fosters employees’ digital mindset and culture for DX
acceleration. As part of our effort to elevate and broaden our pool of talent, we have formulated a Human
Resource Development Policy to serve as a consistent set of guidelines. With this policy serving as ourguideposts, we will create a pool of personnel who are skilled both in terms of work execution andorganizational management, and we will reform our HR systems to ensure optimal personnel developmentfrom a medium to longer term perspective and work to spread this throughout the company.
To move towards the realization of the Revitalization Plan, in order to change our employees’ thinking about
their work we have also established new fundamental principles that serve as the guidelines for day-to-day
individual conduct, covering elements such as a sense of responsibility, social values, risk management, andthe value of human resources. By using various means to instill these principles throughout the company, we
aim to transform the company culture from the inside and realize self-directed, self-sustaining, and lasting
growth.
When it comes to the environment in which we are operating, there are still no prospects for containing thewidening spread of COVID-19. While prioritizing the health and safety of our employees and others, indiscussion with our clients and contractors, we are working to minimize the impact on ongoing projects suchas restricted in-person meetings with clients and contractors, delay in the production and transportation of
procured items, and restricted assignment of work supervisors and on-site workers.
Through deliberations and negotiations with business partners and stakeholders, such as clients, suppliers,
subcontractors, and others, we are working to appropriately address the effects of monetary tightening,
mainly in industrialized countries, and the soaring equipment/materials and labor prices by global inflationand the supply chain disruptions that have been triggered by the geopolitical crisis in Ukraine.

(4) Basic Dividend Policy and Dividend Distributions for the Year Ended March 31, 2022 and the YearEnding March 31, 2023
We regret that there will be no dividend distribution to the common stock, in light of the level of unappropriatedretained earnings for the year ended March 31, 2022.
We are still in the process of executing the Revitalization Plan, and at this time no decision has been madeabout the year-end dividend for the year ending March 31, 2023. We will promptly disclose our dividend
guidance as soon as it is determined based on our business outlook.

(5) Business Risks
Risks to our operations and financial affairs with the potential to significantly affect investor decision-making,as well as the measures taken to address such risks, are described below.
Recognizing the possibility that these risks could arise, in addition to making every effort to reduce theiroccurrence, the Group also endeavors to respond as quickly as possible to minimize the effects should theyarise.

6

Chiyoda Corporation (6366)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2022

We have recognized the following risks as of March 31, 2022.
(a) COVID-19 pandemic
There are still no prospects for containing the COVID-19 pandemic, and around the world there are growing
restrictions on the movement of people and goods as symbolized by lockdown in China spring 2022.
While prioritizing the health and safety of our employees and others, in discussion with our clients andcontractors, we are working to minimize the impact on ongoing projects such as restricted in-person meetings
with clients and contractors, delay in the production and transportation of procured items, and restrictedassignment of work supervisors and on-site workers. Furthermore, many of our clients are reviewing theirinvestment plans due to the uncertainty, and we are endeavoring to analyze the situation because we recognizethat our own order targets will inevitably be considerably affected. We are prepared for business continuity byorganizing a specialized task team, and it developed Business Continuity Plan (BCP) assuming infectious
disease.
(b) Effects of global trends and economic, political, and social changes
Besides the COVID-19 pandemic, other global economic trends, social and political changes, trade protections,
economic sanctions, diplomatic tensions, energy policy shifts in various countries, and price trends in the oil,
LNG, and metals markets can cause our clients to terminate, postpone, or change their investment plans or
negatively affect their financial condition. As such, any of these factors may affect the Group’s businessperformance.
When receiving orders, the Group closely monitors economic and social conditions, and we strive to share therisk burden with our clients and counterparties in an optimal manner. We endeavor to mitigate such risks byconducting due diligence on counterparties, verifying the pros and cons as well as the terms of a transaction,and securing alternative counterparties.
(c)

Natural disasters such as earthquakes and Force Majeure events such as terrorism and conflict

The occurrence of a natural disaster such as an earthquake or heavy rain and flooding caused by global climatechange, or a Force Majeure event such as an act of terrorism or armed conflict, may directly or indirectly resultin damages to a worksite where there is an ongoing project or to an office in Japan or overseas by endangering
workers' lives, delaying the transport of equipment and materials to a worksite, or interrupting on-site work. The
geopolitical crisis in Russia and Ukraine, triggered by Russia's invasion, may adversely affect the Group’sbusiness performance if the dispute is prolonged and the situation deteriorates beyond expectations, because,as the uncertainty about the global economic situation becomes even more evident, the financial condition of
our clients and joint venture partners could deteriorate, supply chains could be disrupted, and the costs ofequipment and materials could soar.
Health and safety are priorities at the Group, and we have established a Crisis Management Section that isalways at the ready. Along with compiling and analyzing data, it assesses the situation in constantly changing
danger zones. We have also taken steps, such as hiring security consultants, to strengthen the crisis
management organization. When there is an emergency, we set up an emergency response headquarters, andalong with promptly sharing information with clients and other involved parties, we establish emergency
response procedures to minimize the impact of a crisis by implementing appropriate countermeasures in atimely and appropriate manner. Furthermore, we have developed Business Continuity Plan (BCP) to be followedin the event of a major earthquake. We are working to improve our ability to continue operations by conducting
drills so that in the event of a disaster we can conduct immediate safety checks, effect an initial response, andlaunch priority operations. With respect to the effects of the situations in Russia and Ukraine, we currently haveno projects underway in either Russia or Ukraine. However, we analyze the latest intelligence, and in addition
to paying careful attention to the safety of the Group employees posted or traveling overseas, we will continue
to monitor and address any effects on projects underway in other countries.
(d) Surging equipment and materials costs
There is time lag between when a contract estimate is issued and when an order is placed. As a result, when
there is a dramatic shift in socio-political situation, such as in the current geopolitical crisis in Ukraine, we are7

Chiyoda Corporation (6366)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2022

exposed to the risk of an unforeseen increase in equipment and materials costs. Specifically, the price of steel,which is a major component in plant construction, can be greatly affected by fluctuating prices for coking coaland iron ore. It is also difficult to predict fluctuations in the market prices for materials such as copper, nickel,
aluminum, and zinc. There are also concerns that shipping rates will remain high due to the surge in oil prices
and higher insurance premiums.
To mitigate such risks, in addition to tracking market trends, the Group takes steps such as diversifying our
suppliers and encouraging competition by ordering from suppliers around the world, early order placement forequipment and materials, and building good relationships with top suppliers. Through deliberations andnegotiations with our business partners and stakeholders, such as clients, suppliers, and subcontractors, we
are working to appropriately address the effects of monetary tightening, mainly in industrialized countries, andthe soaring equipment/materials and labor prices by global inflation and the supply chain disruptions that havebeen triggered by the geopolitical crisis in Ukraine.
(e) Difficulty securing workers, equipment, and materials
In plant construction, work may be delayed if we are unable to secure the necessary human resources such as
construction workers, secure the necessary infrastructure, or procure the necessary equipment and materials
according to plan. Additional expenditures may be required to recover any lost time.
In locations where the labor market is tight or where the climate is harsh, both in Japan and overseas, the Group
mitigates the risk of an unexpected rise in construction costs by devising construction methods such as modular
construction and by forming cooperative relationships with leading contractors and equipment and material
suppliers. If construction is unavoidably suspended due to the worldwide spread of some infection disease or
epidemic other than COVID-19, a strike, or some other factor, we will work with our clients and relevant local
agencies to take appropriate measures to minimize the impact.
(f) Risks associated with changes in the business environment arising from climate change
Lately, extreme weather events thought to be caused by climate change have been occurring with increasing
frequency all over the world. Climate change is affecting society on a global scale, and it is one of the mostimportant social challenges confronting the entire global community.
The Group sees climate change as the most important issue as we pursue a sustainable business model. The
risks associated with climate change will likely affect not only the Group but also our clients. We recognize thatthe changes to client investing environment and to their business portfolios could have a significant impact on
our operations and business strategy since projects could be suspended or delayed and the competition to win
orders could intensify. The Group is addressing these challenges by formulating its business plans through its
effort to close monitor the energy situation, review climate change policy, and laws and regulations in eachcountry, and to obtain the latest information in a timely and appropriate manner via our government, agency,
and customer networks.
Climate change can also be viewed as a new business opportunity. The business environment in which theGroup operates is undergoing significant changes. These include faster decarbonization and an accelerated
transition to hydrogen-based society, and the increasingly widespread adoption of low-carbon and renewableenergy, including LNG. As a result of these changes, major clients are overhauling their business strategies
and the Group sees prospects for growth thanks to new market opportunities. In view of the above, we updated
the MTMP in May 2021. Since our founding, we have demonstrated solution optimize ability offered for complex
constraints and challenges, EPC execution ability to optimize engineering and ensure quality, and theapplication ability of new technologies fusing basic research and EPC expertise. By leveraging these strengths
we will accelerate the transition to a carbon-free society, including hydrogen energy, and carbon neutrality by
2050. By transforming our business portfolio on two fronts—growing carbon neutrality and life science
contribution fields and creating and strengthening recurring business models—we aim to achieve a 50:50 split
in profits between existing and new businesses. Our objective is to transform our earnings structure generating
consolidated-basis net profits in excess of 30 billion yen.
(g) Plant accidents
If there is a major accident for any reason, such as an explosion or fire, at plant built by the Group or one underconstruction, and the Group is determined to be at fault, our liability for the compensation for damages could8Chiyoda Corporation (6366)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2022

affect our business results.
With safety design and construction site accident prevention as top priorities, the Group takes all possible quality
control, construction safety management, and other measures to prevent such unforeseen circumstances fromarising. But we also seek to mitigate such risks by obtaining appropriate insurance coverage and securingcontract terms that reasonably share the burden of such losses with the client. The Group is committed tofostering a culture of safety and we collectively refer to our various initiatives to ensure construction safety as‘C-Safe’ that stands for Chiyoda’s Safety Culture.
(h) Currency risk
Because amounts to be paid for equipment, materials, and subcontracted work for overseas projects might bein a different currency than the amounts received from the client, fluctuating exchange rates could affect ourbusiness results.
The Group endeavors to mitigate currency risk by receiving payments for work in the currencies in which we
expect to make outlays and also through forward exchange contracts.
(i) Compliance violations
In engaging in plant construction work in Japan and overseas, the Group must comply with the laws andregulations of the various countries in which we have our corporate headquarters, subsidiary companies,
representative offices, and construction sites. In the unlikely event that we violate, or are suspected of violating,such laws or regulations, there could be a significant impact on project execution or our business operations.
In order to prevent violations, and also to avoid coming under such suspicion, the Group continuously educates
our employees through programs such as group training and e-learning. In doing so, we thoroughly disseminate
information about the latest laws, regulation, and rules that are relevant to our business execution, including
those pertaining to protecting human rights and preventing corruption. We also constantly work to assess trends
among our stakeholders, including domestic and foreign agencies and clients. Furthermore, in order to ensurethat compliance is incorporated into our business processes, we have established a Compliance Committee
chaired by the Chief Compliance Officer (CCO) with the division directors as its members, as well as a Group
Company Compliance Liaison Committee, also chaired by the CCO, with the subsidiary presidents as its
members.
(j) Information security threats
The Group controls a large volume of client and counterparty information that is necessary to execute ourbusiness, and we also possess confidential information about technologies, sales, and other aspects of ourbusiness. Much of our core work and commercial activity are carried out at locations around the world. We
mitigate risks by reinforcing protective measures to prepare for cyberattacks on important data system andnetwork installation. However, unforeseen event could cause a system failure, leak of confidential information,
cyber fraud, or loss of important business information and it might affect our business. Cyberattack risks oncompanies increased triggered by Tokyo Olympic and Paralympic Games in 2021 and the geopolitical crisis in
Ukraine.
The Group works to mitigate these risks through rigorous information security management practices, such as
regular education and audits. We have also obtained ISMS certification at not only our corporate headquarters
but also at major group companies.
(k) Business investment losses
The Group makes business investments such as establishing new companies and acquiring existing companies.
In making these investments we may provide substantial amounts of equity capital or credit in the form of loans
or guarantees. As a result, there are certain risks. An investee may fail to meet its earnings targets due tochanges in the business environment, we may incur losses on the investment due to poor business results, or
we may encounter a situation in which additional financing is required.
In addition to thoroughly examining a proposal in advance based on our own internal standard and rules, theGroup decides whether to make an investment only after carefully weighing our financial capacity relative to the9Chiyoda Corporation (6366)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2022

risk of losses. After making an investment, in order to prevent or minimize losses we monitor the investee’sbusiness plan progress and provide support in the form of personnel or capital if necessary.
(l) ICHTHYS LNG project litigation risks
In 2012, JKC AUSTRALIA LNG PTY Ltd. (JKC), a joint venture established by the Group, JGC Holdings Corp.
(JGC), and US company KBR, Inc., was awarded the contract from ICHTHYS LNG PTY Ltd. (the Client) toperform the engineering, procurement, and construction work for LNG facilities (the Project). The plant facilities
have already been turned over to the Client.
There were matters between the Client and some subcontractors that were subject to negotiation and arbitration.
The joint venture partners decided to make an out-of-court settlement with the Client and subcontractors as
described below. The Group reflects the impacted settlement amount in the financial results of this fiscal year.
i.

Settlement of lawsuit with the Client
JKC and the Client continued discussions and arbitration with respect to various issues in relation to theProject contract. The Client also filed a lawsuit against JGC in the middle of April 2021, regarding theadditional site subcontract cost, requesting JGC to pay the identical amount to the Client based on theparent company guarantee deeds. Chiyoda participated as an assisting intervener in this lawsuit. The three
joint venture partners of JKC re-evaluated the risks of prolonged arbitration under the COVID-19 pandemic,
the accumulating dispute expenses, and the uncertainty of the result from the prolonged arbitration andlitigation. The joint venture partners decided to make an out-of-court settlement with the Client on October
15, 2021, determining that swiftly resolving the matters would be the best solution.

ii.

Settlement of arbitration with subcontractors
JKC placed the order for the engineering and construction of the Combined Cycle Power Plant (CCPP) thatis part of the Project through a fixed-price contract with a consortium of four companies, General ElectricCompany and General Electric International, Inc., and UGL Engineering Pty Limited and CH2M Hill Australia
Pty Limited (collectively, the Consortium).
However, the Consortium withdrew from the construction site before completion of service. The Consortium
also filed for arbitration to demand payment of additional costs related to circumstances prior to its
withdrawal. In light of this situation, JKC appointed a subcontractor to replace the Consortium in order tofulfill its performance obligations to the Client, and while incurring tentatively the construction costs toproceed with the construction of the CCPP, JKC was countersuing the Consortium for these construction
expenses.
The three joint venture partners of JKC re-evaluated the risks of prolonged arbitration under the COVID-19
pandemic, the accumulating dispute expenses, and the uncertainty of the result from the prolonged
arbitration and litigation. The joint venture partners decided to make an out-of-court settlement with theConsortium on April 11, 2022, determining that swiftly resolving the matters would be the best solution.

<Risk Management Structure>
The Strategy & Risk Integration Division plays a ‘control tower’ role at the Group, with a structure to manage
project risk from the estimate and pre-award stage all the way through to execution, completion, and handoverby providing strategic support and risk management across every stage of a project.
Under this centralized risk management structure, by taking advantage of digital technology and raising thelevel of our data management we are able to improve project management accuracy in cost, scheduling, andquality, allowing us to practice rigorous risk management even as we work to further reinforce and improve it.
As part of its management support function, the Strategy & Risk Integration Division also gathers informationfrom relevant departments as quickly as possible and coordinates among them to address risks with potentiallyadverse effects on our business environment in a timely and appropriate manner, so that we can avoid theserisks and minimize their impact.

10

Chiyoda Corporation (6366)
Consolidated Financial Results for the Fiscal Year Ended March 31, 20222.

Accounting Standard Selection Policy

The Group selects Japan Accounting Standard for the time being considering availability of period comparisonand business-to-business comparison of consolidated financial results. The Group will take necessary actions
to apply to International Accounting Standard considering business trends in Japan.

11

Chiyoda Corporation (6366)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2022

3. Consolidated Quarterly Financial Statements(1) Consolidated Balance Sheets(Millions of yen)
As of March 31, 2021
AssetsCurrent assets
Cash and deposits
Notes receivable, accounts receivablefrom completed construction contracts
Notes receivable, accounts receivablefrom completed construction contracts,
and contract assets
Costs on construction contracts inprogress
Accounts receivable - other
Jointly controlled assets of joint venture
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures
Accumulated depreciation
Buildings and structures, net
Machinery and vehicles
Accumulated depreciation
Machinery and vehicles, net
Tools, furniture and fixtures
Accumulated depreciation
Tools, furniture and fixtures, net
LandConstruction in progress
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Retirement benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

12

As of March 31, 2022

106,988

68,79548,527－－40,438

8,767

18,52977,261
56,845
8,906(1,405)
305,891

83,246
141,438
21,731(1,498)372,682

14,105(8,849)
5,255
1,295
(913)
382
5,948
(5,119)
829
4,853
106
11,426
4,371

13,548(8,848)4,700
1,659(1,325)333
6,286(5,395)
891
5,100
11
11,038
4,335

5,701
566
394
1,395
(164)
7,894
23,692
329,583

5,511
633
129
1,084
(18)
7,340
22,714395,396Chiyoda Corporation (6366)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2022

(Millions of yen)
As of March 31, 2021
Liabilities
Current liabilities
Notes payable, accounts payable forconstruction contracts
Current portion of long-term borrowings
Accounts payable - other
Income taxes payable
Advances received on construction
contracts in progress
Contract liabilities
Provision for warranties for completed
construction
Provision for loss on construction
contracts
Provision for bonuses
Provision for business restructuring
Other
Total current liabilities
Non-current liabilities
Long-term borrowings
Deferred tax liabilities
Provision for treatment of PCB waste
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Share capital
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans
Total accumulated other comprehensive
incomeNon-controlling interests
Total net assets
Total liabilities and net assets

13

As of March 31, 2022

115,187

96,084

747
4,200
638

20,621
44,022
97874,784－－143,431

823

3,348

34,44334,815

3,834
17
9,978
244,657

3,211
－
4,160
350,675

45,000
－
239
761
2,178
48,178292,836

25,000
533
239
773
2,413
28,960379,635

15,014142
15,708(1,435)29,43015,014142(1,142)(849)
13,165

203

83

30
5,300
1,434

1,656
(6)
755

6,969

2,489

348
36,747
329,583106
15,761
395,396Chiyoda Corporation (6366)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2022

(2) Consolidated Statement of Income and Comprehensive Income(Consolidated Statement of Income)(Millions of yen)
Fiscal year ended
March 31, 2021

Net sales of completed construction contracts
Cost of sales of completed construction
contracts
Gross profit on completed construction
contracts
Selling, general and administrative expenses
Operating profit
Non-operating income
Interest income
Dividend income
Share of profit of entities accounted for using
equity method
Foreign exchange gains
Other
Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using
equity method
Settlement payments
Other
Total non-operating expenses
Ordinary profit
Extraordinary income
Gain on liquidation of subsidiaries andassociates
Gain on sale of investment securities
Gain on sale of shares of subsidiaries andassociates
Total extraordinary income
Extraordinary losses
Project related loss due to settlements withcustomers
Impairment losses
Loss on retirement of non-current assets
Loss on liquidation of subsidiaries andassociates
Loss on valuation of investment securities
Total extraordinary losses
Profit (loss) before income taxes
Income taxes - current
Income taxes - deferred
Total income taxes
Profit (loss)
Profit (loss) attributable to non-controllinginterests
Profit (loss) attributable to owners of parent

14

Fiscal year ended
March 31, 2022

315,393311,115

295,332

288,321

20,061

22,794

13,046
7,015

12,24910,545

984
388

305
382

33

－

820
266
2,492

1,406
364
2,458

889

879

－

321

－
155
1,045
8,462

201
169
1,571
11,431

－

588

－

160

413

－

413

749

－

20,374

－
－

426
306

－

242

－
－
8,876
848
33
882
7,993

89
21,439(9,258)
3,509
59
3,569
(12,828)

0

(198)

7,993

(12,629)Chiyoda Corporation (6366)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2022

(Consolidated Statement of Comprehensive
Income)(Millions of yen)
Fiscal year ended
March 31, 2021

Profit (loss)
Other comprehensive income
Valuation difference on available-for-salesecurities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans,
net of tax
Share of other comprehensive income ofentities accounted for using equity method
Total other comprehensive income
Comprehensive income
Comprehensive income attributable toComprehensive income attributable toowners of parent
Comprehensive income attributable to noncontrolling interests

15

Fiscal year ended
March 31, 2022

7,993

(12,828)

144

(119)

24
2,324

1,625
(5,350)

1,420

(678)

(60)

79

3,854
11,847(4,444)(17,272)

11,849(17,109)

(1)

(163)

Chiyoda Corporation (6366)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2022

(3) Consolidated Statement of Changes in Equity
Previous consolidated fiscal year (April 1, 2020- March 31, 2021)(Millions of yen)
Shareholders' equity
Share capital

Capital surplus

78,396

72,128(63,381)

63,381

Balance at beginning of
periodRetainedearnings

Treasuryshares(127,778)

Total
shareholders'equity(1,435)21,310Changes during period
Capital reduction
Deficit disposition(135,494)

Profit attributable to ownersof parent
Purchase of treasury
sharesPurchase of shares of
consolidated subsidiaries
Net changes in items otherthan shareholders' equity－
135,494

－

7,993

7,993
(0)

(0)

126

126

Total changes during period(63,381)(71,986)

143,487

(0)

8,119

Balance at end of period

15,014142

15,708(1,435)29,430

Accumulated other comprehensive income

Balance at
beginning of
periodChanges during
periodCapital reduction
Deficitdisposition
Profitattributable toowners of parent
Purchase oftreasury shares
Purchase ofshares of
consolidated
subsidiaries
Net changes in
items other thanshareholders'equityTotal changes
during period
Balance at end of
periodValuationdifference on
available-forsale securities

Deferred
gains orlosses onhedgesForeigncurrencytranslation
adjustment

Remeasurements ofdefinedbenefit plans

Total
accumulated
other comprehensive
incomeNoncontrollinginterests

Total net
assets

58

6

3,033

13

3,112

519

24,943

－
－
7,993
(0)

126

144

24

2,266

1,420

3,856

(171)

3,684

144

24

2,266

1,420

3,856

(171)

11,804

203

30

5,300

1,434

6,969

348

36,74716

Chiyoda Corporation (6366)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2022

Current consolidated fiscal year (April 1, 2021-March 31, 2022)(Millions of yen)
Shareholders' equity
Retainedearnings

Share capital

Capital surplus

15,014

142

Balance at beginning of period

15,708Cumulative effects ofchanges in accounting
policies

Treasury shares

Total
shareholders'equity(1,435)29,430

1

Restated balance

15,014142

15,7091(1,435)29,431

Changes during period
Dividends of surplus(3,636)(3,636)

Loss attributable to owners ofparent(12,629)(12,629)

Purchase of treasury shares

(375)

(375)

961

375

Disposal of treasury shares(585)

Transfer of loss on disposal oftreasury shares
Net changes in items otherthan shareholders' equity

585

(585)

－

－

(16,852)585(16,266)

15,014142(1,142)(849)

13,165

Total changes during period
Balance at end of period－

Accumulated other comprehensive income
Valuationdifference on
available-forsale securities

Deferred gains
or losses onhedgesForeigncurrencytranslation
adjustment

Balance at beginningof period
Cumulative effects
of changes inaccounting policies

203

30

5,300

Restated balance203

RemeasureTotal
ments ofaccumulated
defined benefit other compreplans
hensive income

1,434

6,969

Noncontrollinginterests

Total net
assets348

36,747
1

30

5,300

1,434

6,969

348

36,748Changes during
periodDividends ofsurplus(3,636)

Loss attributable toowners of parent(12,629)

Purchase oftreasury shares(375)

Disposal oftreasury shares
Transfer of loss on
disposal oftreasury shares
Net changes in
items other thanshareholders'equityTotal changes during
period375

Balance at end of
period

－
(119)

1,625

(5,306)(678)(4,479)(241)(4,720)

(119)

1,625

(5,306)(678)(4,479)(241)(20,987)

83

1,656

(6)

755

2,489

106

15,76117

Chiyoda Corporation (6366)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2022

(4) Consolidated Statement of Cash Flows(Millions of yen)
Fiscal year ended
March 31, 2021
Cash flows from operating activities
Profit (loss) before income taxes
Depreciation
Impairment losses
Amortization of goodwill
Increase (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for warranties forcompleted construction
Increase (decrease) in provision for loss on
construction contracts
Increase (decrease) in provision for bonuses
Increase (decrease) in provision for businessrestructuring
Increase (decrease) in retirement benefit liability
Interest and dividend income
Interest expenses
Foreign exchange losses (gains)Share of loss (profit) of entities accounted for using
equity method
Loss (gain) on valuation of investment securities
Loss (gain) on sale of investment securities
Loss (gain) on sale of shares of subsidiaries andassociates
Loss (gain) on liquidation of subsidiaries andassociates
Loss (gain) on sale and retirement of non-current
assetsDecrease (increase) in trade receivables
Decrease (increase) in costs on construction contracts
in progress
Increase (decrease) in trade payables
Increase (decrease) in advances received on
construction contracts in progress
Increase (decrease) in contract liabilities
Decrease (increase) in accounts receivable - other
Increase (decrease) in accounts payable - other
Decrease (increase) in jointly controlled asset of joint
ventureOther, net
SubtotalInterest and dividends received
Interest paid
Income taxes refund (paid)
Net cash provided by (used in) operating activities

18

Fiscal year ended
March 31, 2022

8,876
3,281
－
33
162

(9,258)
3,060
426
33
(86)

(15)

2,475

902

(2,806)

(148)

(629)

(383)

(17)

398
(1,372)
889
(225)

(362)
(687)
879
(1,072)

(33)

321

－
－

89
(160)

(413)

－

－

(326)

－

319

12,3778,380(3,809)(9,744)(20,259)(25,028)(40,465)－－(11,670)
1,144

65,506(111)
39,75037,595(82,678)(10,800)(23,937)
1,450
(823)
2,504
(20,806)(12,551)(24,279)702(846)(1,168)(25,591)

Chiyoda Corporation (6366)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2022

(Millions of yen)
Fiscal year ended
March 31, 2021
Cash flows from investing activities
Net decrease (increase) in time deposits
Purchase of property, plant and equipment
Proceeds from sale of property, plant and equipment
Purchase of intangible assets
Proceeds from sale of intangible assets
Purchase of investment securities
Proceeds from sale of investment securities
Proceeds from liquidation of subsidiaries andassociates
Proceeds from sale of shares of subsidiaries andassociates
Purchase of shares of subsidiaries resulting in change
in scope of consolidation
Payments for sale of shares of subsidiaries resulting inchange in scope of consolidation
Loan advances
Proceeds from collection of loans receivable
Other, net
Net cash provided by (used in) investing activities
Cash flows from financing activities
Proceeds from long-term borrowings
Repayments of long-term borrowings
Dividends paid
Other, net
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash
equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

19

Fiscal year ended
March 31, 2022

348
(608)
563
(1,541)
746
(659)
－

(576)
(515)
1
(1,624)
－
(720)
230

－

79

14

－

(18)

－

(236)

－

(869)
13
(3)
(2,250)

(987)
9
316
(3,787)

10,000
(122)
(0)
(398)
9,478

－
(126)
(3,636)(433)(4,197)(3,616)

3,938(17,194)
115,932
98,738(29,638)
98,73869,099Chiyoda Corporation (6366)
Consolidated Financial Results for the Fiscal Year Ended March 31, 2022

4.

Production, Contracts and Sales(Millions of yen)
Apr. 1, 2021 － Mar. 31, 2022

Apr. 1, 2020 － Mar. 31, 2021
New
contracts(ratio)Net sales(ratio)Backlog ofcontracts(ratio)New
contracts(ratio)Net sales(ratio)Backlog ofcontracts(ratio)898,125

314,684

1,126,072

415,219

310,394

1,331,014

99.9%

99.8%

100.0%

99.9%

99.8%

100.0%

782,809104,839

956,187

15,292

155,454914,960

87.1%

33.2%

84.9%

3.7%

50.0%

68.8%

3,210

11,274

6,032

1,235

4,063

3,006

0.4%

3.6%

0.6%

0.3%

1.3%

0.2%

45,130118,952

49,93132,352

56,67027,188

5.0%

37.7%

4.4%

7.8%

18.2%

2.0%

Pharmaceutical/Biochemistry/
Chemical

50,14826,71843,285

41,11732,68150,429

5.5%

8.5%

3.8%

9.9%

10.5%

3.8%

Environment/New
Energy/Infrastructure

12,554

48,85468,425322,366

59,069332,737

1.4%

15.5%

6.1%

77.5%

19.0%

25.0%

4,271

4,044

2,209

2,854

2,455

2,690

0.5%

1.3%

0.2%

0.7%

0.8%

0.2%

708

708

-

721

721

-

0.1%

0.2%

-

0.1%

0.2%

-

898,834

315,393

1,126,072

415,940

311,1151,331,014

100.0%

100.0%

100.0%

100.0%

100.0%

100.0%

103,765

146,084

135,190

86,525

117,677

104,121

11.5%

46.3%

12.0%

20.8%

37.8%

7.8%

795,069

169,308

990,881

329,414

193,437

1,226,893

88.5%

53.7%

88.0%

79.2%

62.2%

92.2%

Engineering
LNG Plant
Gas
Development/Processing/Receiving
Refinery/Petrochemical/Metal

OthersOther Business

Total

Domestic

Overseas

Note:

The total amount of the above table does not include consumption tax.

5. Others
ICHTHYS LNG project
Refer to 1. Qualitative Information Related to Consolidated Performance, (5) Business Risks, (l) ICHTHYSLNG project litigation risks.

20