[Translation]
The following statements are an English-language translation of the original Japanese-language document for your convenience. In the case that
there is any discrepancy between the Japanese and English versions, the Japanese version is assumed to be correct.
(All financial information has been prepared in accordance with accounting principles generally accepted in Japan.)November 11, 2014

Summary of Consolidated Second Quarter Financial Results for Fiscal 2014
(the Year Ending March 2015)
Stock exchange: Tokyo

Name of listed company: JGC Corporation
Code number: 1963
URL: http://www.jgc.com
Representative
Title: Chairman and Representative Director
Name: Masayuki Sato
Contact
Title: General Manager, Financial & Accounting Department
Name: Takehiko Hirose

Tel: 045-682-1111

1. Business results of second quarter for fiscal 2014 (April 1, 2014 - September 30, 2014)(1) Consolidated financial results

Note: All amounts are rounded down to the nearest million yen. Percentage indicate changes from the previous term.

Net sales(Millions of yen)

Operating income(%)(Millions of yen)

Net income

Ordinary income(%)(Millions of yen)(%)

(Millions of yen)(%)

2Q FY2014

401,005

27.631,005

0.2

35,315(8.5)

25,4322.5

2Q FY2013

314,243

9.5

30,948(3.7)

38,59025.2

24,822

7.6

Note:
Comprehensive income(millions of yen)

2Q FY2014 term

(Yen)Earnings pershare(diluted)(Yen)

2Q FY2014

100.76－2Q FY2013

98.33

－

Earnings pershare

24,973 (-6.6%) 2Q FY2013 term

26,738 (22.3%)(2) Consolidated financial position
Total assets

Total net assets

Shareholders' equity ratio(Millions of yen)

(Millions of yen)(%)

As of September 30, 2014

689,177

388,665

56.2

As of March 31, 2014

746,102379,882

50.2

Reference:
Shareholders' equity (millions of yen):Sep. 30, 2014:

387,563

Mar. 31, 2014

374,654

2. Dividends
Annual dividends per share (Yen)
1Q term-end

2Q term-end

3Q term-end

Term-end

AnnualMar. 2014 term

－－－

46.50

46.50

Mar. 2015 term－－－－－

Mar. 2015 term (Forecast)

－－－

41.50

41.50

Note: Revision of dividend forecast during this period: None

3. Earnings forecast for fiscal 2014 (April 1, 2014 - March 31, 2015)
Net sales(Millions of yen)
Full Year

780,000(%)

15.4Operating income(Millions of yen)(%)
55,000Earnings pershare(Yen)

Full Year

166.39Note: Revision of earnings forecast during this period: No1/9

Ordinary income(Millions of yen)(%)
(19.4)

59,000Net income(Millions of yen)
(29.5)

42,000(%)(11.0)

4. Others(1) Changes in scope of important consolidated subsidiary(increase)
None(decrease) None

(2) Adoption of simplified accounting methods or special accounting methods for preparing quarterly consolidated financial statements: Yes(3) Changes of accounting principles, procedures and presentation when preparing quarterly consolidated financial statement.
① Changes due to revisions of accounting standards: Yes② Changes other than the above ①: None
③ Changes in accounting estimates: None
④ Restatement: None

(4) Number of shares outstanding① Number of shares outstanding at term-end (including treasury stock):
Sep. 2014 term:

259,052,929

Mar. 2014 term:

259,052,929

Mar. 2014 term:

6,639,762② Number of treasury stock at term-end:
Sep. 2014 term:

6,646,661③ Average Number of shares outstanding (1st Half term):
Sep. 2014 term:

252,410,604

Sep. 2013 term:

252,443,465(1) The forecasts given above are based on information available at the time of compilation and are inherently subject to a variety of risks and uncertainties.
Actual results may vary significantly from forecasts due to factors including, but not limited to, changes in the economic or business environment andexchange rate fluctuations.

(2) Forecast based on : 108.00 yen/US$ 1.00

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JGC Corporation

Consolidated Balance Sheets

2Q FY2014

FY2013(As of Sep. 30, 2014)(As of Mar. 31, 2014)(Millions of yen)

(Millions of yen)

ASSETS
Current assets
Cash and deposits
Notes receivable, accounts receivable from completed
construction contracts and otherSecurities
Costs on uncompleted construction contracts
Merchandise and finished goods
Work in process
Raw materials and supplies
Accounts receivable-other
Deferred tax assets
Other
Allowance for doubtful accounts

251,547

354,199

150,042

102,170－
53,106
4,055
2,840
2,765
20,92916,08813,469(164)
514,680

31,05241,007
4,203
1,675
2,598
13,286
15,534
10,272(114)
575,886

Buildings and structures
Machinery, vehicles, tools, furniture and fixtures
Land
Lease assets
Construction in progress
Other
Accumulated depreciation

63,16560,80025,996
347
906
4,576
(85,974)
69,81863,41960,222
25,977
228
381
4,207
(84,146)
70,290Goodwill
Software
Other

0
2,049
14,61916,66802,271
14,485
16,757

Investment securities
Long-term loans receivable
Deferred tax assets
Other
Allowance for doubtful accounts
Allowance for investment loss

88,026
26,8801,389
5,130(21,394)(12,023)
88,009174,497689,177

88,27020,512
1,690
6,084(20,213)(13,174)
83,168170,216
746,102

Total current assets
Non-current assets
Property, plant and equipment

Total Property, plant and equipment
Intangible assets

Total intangible assets
Investments and other assets

Total investments and other assets
Total non-current assets
Total assets

3/9

JGC Corporation

2Q FY2014

FY2013(As of Sep. 30, 2014)(As of Mar. 31, 2014)(Millions of yen)

(Millions of yen)

LIABILITIESCurrent liabilities
Notes payable, accounts payable for construction contracts
and other
Income taxes payable
Advances received on uncompleted construction contracts
Provision for warranties for completed construction
Provision for loss on construction contracts
Provision for bonuses
Provision for directors' bonuses
Provision for loss on guarantees
Other

112,528

107,450

3,094
89,543
2,261
32,7894,605
66
65
20,935
265,892

16,843
163,406
2,449
21,062
7,047
166
65
14,862
333,353

13,75911,499
247
1,268
3,644
4,200
34,620300,51213,001
11,436
288
209
3,691
4,239
32,866366,220

Capital stock
Capital surplus
Retained earnings
Treasury stock

23,51125,607341,279(6,498)383,898

23,51125,607
327,775(6,477)
370,415

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Revaluation reserve for land
Foreign currency translation adjustment
Remeasurements of defined benefit plans

8,439
(541)
(6,627)
2,830
(435)
3,664
1,101
388,665
689,177

6,868(51)(6,542)
4,384
(420)
4,238
5,227
379,882
746,102

Total current liabilities
Non-current liabilities

Long-term loans payable
Net defined benefit liability
Provision for directors' retirement benefits
Deferred tax liabilities
Deferred tax liabilities for land revaluation
Other

Total non-current liabilities
Total liabilities

NET ASSETS
Shareholders' equity:

Total shareholders' equity
Valuation and translation adjustments:

Total valuation and translation adjustments
Minority interests
Total net assets
Total liabilities and net assets

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JGC Corporation

Consolidated Statements of Income
Years ended

2Q FY2014 term

2Q FY2013 term

(Apr. 1, 2014 Sep. 30, 2014)(Apr. 1, 2013 Sep. 30, 2013)(Millions of yen)

(Millions of yen)

Net sales

401,005

314,243

Cost of sales

359,205

273,307

Gross profit

41,80040,935

Selling, general and administrative expenses

10,794

9,987

Operating income

31,00530,948Interest income

1,298

894

Dividends income

1,287

1,831

Foreign exchange gains

1,301

4,434

Rent income on non-current assets

316

318

Equity in earnings of affiliates

376

475

Other

96

70

4,676

8,024

Interest expenses

151

142

Rent expenses on non-current assets

159

151

Other

55

87

366

382

35,31538,590Gain on sales of subsidiaries and affiliates' stocks

819－

Reversal of allowance for investment loss

588－

Other317

2,354

1,726

2,354

Loss on sale of non-current assets

480

Loss on valuation of investment securities

483－Other22

2,685

555

2,685

Income before income taxes

36,48538,259

Income taxes

10,953

13,221

Income before minority interests

25,53225,03799

215

25,432

24,822Non-operating income:

Total non-operating income

Non-operating expenses:

Total non-operating expenses

Ordinary income
Extraordinary income:

Total extraordinary income

Extraordinary losses:

Total extraordinary losses

Minority interests in income
Net income

5/9Statements of Consolidated Comprehensive Income

Income before minority interests
Other comprehensive income:

Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Remeasurements of defined benefit plans,net of tax
Share of other comprehensive income of associates
accounted for using equity method
Total other comprehensive income

Comprehensive income
Comprehensive income attributable to:Comprehensive income attributable to owners of the parent
Comprehensive income attributable to minority interests

6/9

2Q FY2014 term

2Q FY2013 term

(Apr. 1, 2014 -(Apr. 1, 2013 -Sep. 30, 2014)

Sep. 30, 2013)(Millions of yen)

(Millions of yen)

25,53225,037

1,570(561)(1,553)(8)

1,039(1,439)2,100－

(6)

(0)

(559)
24,9731,700
26,73824,89479

26,523215

JGC Corporation

Consolidated Statements of Cash Flows

Years ended

Net cash provided by (used in) operating activities:

2Q FY2014 term

2Q FY2013 term

(Apr. 1, 2014 Sep. 30, 2014)(Apr. 1, 2013 Sep. 30, 2013)(Millions of yen)

(Millions of yen)

Income before income taxes
Depreciation and amortizationIncrease (decrease) in allowance for doubtful accounts
Increase (decrease) in provision for loss on construction contracts
Increase (decrease) in provision for retirement benefits
Increase (decrease) in net defined benefit liability
Interest and dividends income
Foreign exchange losses (gains)
Equity in (earnings) losses of affiliates
Decrease (increase) in notes and accounts receivable-trade
Decrease (increase) in inventories
Decrease (increase) in accounts receivable-other
Increase (decrease) in notes and accounts payable-trade
Increase (decrease) in advances received on uncompleted construction contracts
Other
SubtotalInterest and dividends income received
Interest expenses paid
Income taxes paid
Net cash provided by (used in) operating activities

36,485
4,911
1,230
11,770－84(2,586)(3,051)(376)(48,426)(13,323)(7,837)
5,600(73,999)(2,883)(92,400)
2,756
(129)
(23,612)(113,386)

38,2594,187
694(2,122)(843)－(2,725)(3,331)(475)
8,641(15,073)
(397)
4,136
59,850(9,081)
81,7203,014(167)(22,498)
62,068Purchase of property, plant and equipmentPurchase of investment securities
Other
Net cash provided by (used in) investment activities(3,018)(2,163)(6,275)(11,456)(4,059)(5,136)(3,316)(12,512)(11,728)
2,335(9,392)531(133,705)
385,252－
251,547(11,477)
1,023(10,454)23
39,125
284,777152
324,055

Net cash provided by (used in) investment activities:

Net cash provided by (used in) financing activities:
Cash dividends paid
Other
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
Increase in cash and cash equivalents from newly consolidated subsidiary
Cash and cash equivalents at end of period

7/9

JGC Corporation

Segment Information【 Information by business segment 】
Second quarter (6 months) for FY 2013 (April 1, 2013 - September 30, 2013)(Millions of yen)Segment
Total
engineering

Catalysts andfine productsGrand total

Others

Sub total

Consolidated

Adjustment

Net sales
External customers

292,545

16,542309,087

5,155

314,243－314,243

95171122,542

2,654(2,654)－Total292,640

16,559309,200

7,698

316,898(2,654)314,243

Segment profit or loss

28,855

1,583

30,438511

30,950(1)30,948Inter-segment*1 : "Others" includes System Solution Services, Specialized Consulting Services, Office Support Services Business, Power and Water Business and Oil and Gas
Production Sales Business.
*2 : Segment profits are adjusted to eliminate transactions between segments*3: Segment profits are adjusted with the operation income figure from the Consolidated Statements of Income

Second quarter (6 months) for FY 2014 (April 1, 2014 - September 30, 2014)
Segment
Total
Catalysts andSub total
engineering
fine products(Millions of yen)
OthersGrand total

Adjustment

Consolidated

Net sales
External customers

375,093

18,740393,834

7,171

401,005－

401,005

10

1

2,165

2,167

(2,167)－

Total

375,094

18,740393,835

9,336

403,172(2,167)401,005

Segment profit or loss

27,403

1,986

29,3901,565

30,95549

31,005Inter-segment*1 : "Others" includes System Solution Services, Specialized Consulting Services, Office Support Services Business, Power and Water Business and Oil and Gas
Production Sales Business.
*2 : Segment profits are adjusted to eliminate transactions between segments*3: Segment profits are adjusted with the operation income figure from the Consolidated Statements of Income

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JGC Corporation

Sales, Orders Received and Backlog (Consolidated)(Millions of yen)March 31, 2014
Business area

Outstanding
Contracts

NewContracts

23

Domestic

Oil and gas development

Outstanding
Contracts

Sales

360

92

291

Petroleum refining

20,732

4,982

9,669

16,046

LNG

13,291

22,5904,955

30,926

ChemicalPower generation, nuclear power andnew energy

2,864

9,879

5,023

7,720

80,946

10,15917,236

73,869

3,033

4,012

2,503

4,542

20,143

6,355

4,880

21,618

561

3,803

1,552

2,811

Subtotal

141,595

62,14445,913

157,826

Oil and gas development

123,643

28,71549,555

102,803

Petroleum refining

396,69823

28,180368,541

LNG

951,096472,404

235,568

1,187,931

ChemicalPower generation, nuclear power andnew energy

131,248

4,205

17,355

118,097577

2323577

Living and general production facility

917

(11)

410

495

11

2

0

1,093
1,605,275
1,745,257
1,613
1,746,870－
1,746,870

5,787
511,150
564,002
9,292
573,295－
573,295

5,254
336,350
375,093
7,171
382,264
18,740401,005

1,626
1,780,075
1,934,166
3,734
1,937,901－
1,937,901

Living and general production facility
Environmental protection, social
development and IT
OthersOverseas

September 30, 2014

Environmental protection, social
development and IT
OthersSubtotal
Total Engineering Business
Others Business
Subtotal
Catalysts and Fine Products BusinessGrand Total

Notes:*1 Figures for each business area are exclusive of consumption and other taxes.
*2 The balances as of the end of the previous fiscal year for new contracts for the "Total Engineering
Business" and "Others Business" areas have been revised to reflect foreign currency translation
adjustments and changes contract amounts for the period under review as follows:(Millions of yen)

Business area

Foreigncurrencytranslation
adjustment

Oil and gas development
Petroleum refining
LNG
ChemicalPower generation, nuclear power andnew energy
Living and general production facility
Environmental protection, social
development and IT
Others
Total
Total Engineering Business
Others Bisiness

Revision forchanges incontract
amounts

Total

7,790
3,628
15,443(5,005)

(224)
(124)
(3,504)
(444)

7,566
3,503
11,939(5,449)

0－0

(16)

－

(16)

(0)

(0)

(0)

10
21,852
21,81042(1)(4,299)(4,297)(1)

817,553
17,51240*3 As the order received system is not applied to the Catalysts and Fine Products Business area, nofigures are given.
*4 All amounts are rounded down to the nearest million yen.
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