PRESS RELEASE
May 14, 2008

Chiyoda Announces Financial Resultsfor the Fiscal Year Ended March 31, 2008
Chiyoda Corporation (TSE: 6366; ISIN: JP3528600004), Japan’s leading engineering and construction firm,
today reported its consolidated financial results for the fiscal year ended March 31, 2008.
New contracts for the fiscal year were 258,754 million yen on a consolidated basis, a 53.6% decrease
compared with the previous fiscal year. New contracts decreased 75.0% to 100,567 million yen overseas,
and increased 1.9% to 158,187 million yen in Japan. The backlog of contracts as of March 31, 2008 was
670,050 million yen. Consolidated revenues increased 24.5% to 603,559 million yen. Operating income
decreased 69.2% to 8,839 million yen, recurring profit decreased 48.0% to 19,121 million yen and net
income decreased 59.0% to 9,640 million yen. Net income per share was 50.15 yen. Chiyoda plans to pay ayear-end dividend of 10 yen per share.
During the fiscal year ended March 31, 2008, the demand for plants was very strong. Overseas, many newprojects are being planned in various locations as a result of growth of global-scale energy demand.
Investment in domestic refineries and petrochemical plants is becoming active as well. Project execution,
however, remains challenging, particularly in Qatar, where plant construction is booming and the supply ofskilled construction workers remains tight.
In this severe environment, Chiyoda has exerted its best efforts to manage increased construction costs andassociated risks, with the aim of executing the world’s largest LNG plants in Qatar as originally planned.
Increased labor costs and lower productivity due to the shortage of construction workers, much more severe
than initial predictions, have resulted in a decline in earnings. The environment in Qatar, including tight labor
supply and material cost increases, is extraordinary and far beyond international contractors’ professional
control capabilities. Other overseas and domestic projects are generally proceeding smoothly. Constructionof Train 1 of the Sakhalin II project, the first LNG plant in Russia, was completed. In the domestic market,
Chiyoda successfully acquired many new contracts and steadily executed ongoing projects primarily in thefields of petroleum and petrochemicals, yielding a high level of revenues.
Regarding the fiscal year ending March 31, 2009, Chiyoda will work to acquire new contracts, focusing onprojects where the Company’s technological advantages are highly recognized while maintaining anoptimum balance with ongoing project execution. Chiyoda will also manage the high cost of materials andthe tight supply of labor in order to execute as scheduled the three large-scale LNG projects in Qatar (sixLNG trains with an annual capacity of 7.8 million tons each), as well as other ongoing projects in Japan andoverseas.
For the fiscal year ending March 31, 2009, Chiyoda forecasts consolidated new contracts of 450,000 millionyen, revenues of 460,000 million yen, operating income of 12,500 million yen, recurring profit of 16,000
million yen and net income of 9,500 million yen. Chiyoda plans to pay a year-end dividend of 11 yen per
share. The assumed exchange rate is 100 yen to the U.S. dollar.
Chiyoda Corporation, headquartered in Yokohama, Japan, provides services in the field of engineering,procurement and construction (EPC) for gas processing, oil refineries and other hydrocarbon processing
and industrial plant projects, particularly in Gas Value Chain areas, on a global basis including the Middle
East, Russia, South East Asian, Africa and Oceania regions. For 60 years, Chiyoda has constantly
leveraged its extensive experience and a far-reaching global network to give it an unrivaled advantage.

For more information, please contact: Ken Ito / Kenichi Aoki
Chiyoda Corporation
Investors Relations and Corporate Relations OfficeTel: 81-45-506-7538, Fax: 81-45-506-7085
Email Address: kenaoki@ykh.chiyoda.co.jp
URL: http://www.chiyoda-corp.com