Financial Results forthe 2nd Quarter of Fiscal Yearending March 31, 2023
(FY2022 2Q)
November 8, 2022
Chiyoda Corporation© Chiyoda Corporation 2022, All Rights Reserved.

Our SDGs Materiality

Ⅰ Financial Results
Ⅱ Growth Strategy
Ⅲ

Major Ongoing
Projects

1

Ⅰ Financial Results2

1 Highlights
1.

2.

3.

Financial Results• Revenue and profit increased YoY.
• Expecting to achieve full year forecast, acceleratinglarge scale project progress in the second half of thefiscal year.

Countermeasures Against Global Inflation
Minimizing impacts on existing and new projectsthrough cooperation and discussion with clients andpartners
Growth Strategy
Global business developing withhydrogen supply chain in Singapore

international3

22 Income Statement
Billions of JPY

FY2021
2Q

FY2022Difference
2Q

Full Year
Forecast

Progress

Revenue

147.4

184.3

36.9

500.0

37%

Gross Profit

11.9

12.1

0.2

35.034%Gross Profit Margin

8.1%

6.6%

(1.5)pt

7.0%-SG&A Expenses

(5.6)

(5.9)

(0.3)

(15.0)-Operating Income

6.3

6.1

(0.2)

20.0

31%

Ordinary Income

6.0

6.6

0.6

18.0

37%

(15.3) Note 1

5.3

20.7

11.546%112145

Profit*Exchange Rate
JPY/ USD

138 Note 2

Note 1) FY2021 1Q: Extraordinary losses of JPY20.4 billion was recorded related to the completedIchthys LNG project. The lawsuit had been settled.
Note 2) Revised from JPY120 at the beginning of the fiscal year

* Profit attributable to owners of the parent4

33 Profit Analysis
Billions of JPY

FY2021 2Q
FY2022 2Q(Gross Profit

SG&A

11.9 12.1（+0.2）(5.6) (5.9)((0.3))

Energy8.6

8.7

GlobalEnvironment

3.33.4) ： Compared to FY2021 2Q results

Operating Income6.3

6.1((0.2))

5

44 Balance Sheet
Billions of JPY

FY2021 FY2022 Difference
4Q
2Q
Current Assets

372.7 387.9

15.2

Current Liabilities
Notes Payable, Accounts
Payable for Construction
Contracts

Cash and Deposits

68.8

67.4

(1.4)

Operating Assets*¹

59.0

61.0

2.0

Accounts
Receivable - Other

83.2

33.0 (50.3)

Jointly Controlled
Assets of JV *²

FY2021 FY2022 Difference
4Q
2Q

350.7 366.1

15.4

96.1

112.6

16.5

143.4 176.9

33.4

Provision for Loss onConstruction Contracts

34.8

35.1

0.3

Contract Liabilities

141.4 181.640.2

Accounts Payable- Other

44.0

16.5 (27.5)

Other

21.7

46.5

24.8

Non-Current Liabilities

29.0

27.5(1.5)

Non-Current Assets

22.7

24.0

1.2

Net Assets

15.8

18.2

2.5

395.4 411.8

16.4

Liabilities andNet Assets

395.4

411.8

16.4

Shareholders’ Equity

15.7

18.1

2.4

Shareholders’ Equity
Ratio

4.0%

4.4% +0.4pt

Total Assets*1 Operating Assets： Notes receivable, accounts receivablefrom completed construction contracts, and contract assets+ Costs on construction contracts in progress
2* Jointly controlled assets of JV： Cash and deposits of joint
venture proportional to Chiyoda’s interest

652 New Orders / Backlog
Billions of JPY

New Orders
FY2022 2Q

Backlog
FY2022 2Q

Energy

30.5

976.2

Global Environment

15.6

383.6

Total

46.1

1,359.8

Major Backlog
Projects
EnergyMore than
JPY100 billion

More than
JPY10 billion• NFE LNG, Qatar• Golden Pass LNG, USA• Tangguh LNG Expansion,
Indonesia

Global Environment • Copper Smelting Plant,
Indonesia• Biopharmaceutical
Manufacturing Plant, Japan• Energy Storage System
Facility, Japan7Att.

Revenue and Backlog Breakdown
Billions of JPY

FY2022 2Q Revenue

FY2022 2Q Backlog【Business】【Business】

ENERGY

129.4

70%

LNG Plant, Gas Related Work

112.5

61%

Refinery, Petrochemical

16.99%

54.9

30%

14.2

8%

40.7

22%

184.3

100%

ENVIRONMENT
Pharmaceutical, Biochemistry,
ChemicalEnvironment, New Energy,
Infrastructure, Others
TOTAL

ENERGY

976.2

72%

LNG Plant, Gas Related Work

952.0

70%

Refinery, Petrochemical

24.2

2%

383.6

28%

42.4

3%

341.1

25%

1,359.8100%

1,268.093%

ENVIRONMENT
Pharmaceutical, Biochemistry,
ChemicalEnvironment, New Energy,Infrastructure, Others
TOTAL【Region】【Region】
OVERSEASOVERSEAS

148.0

80%

Middle East & Africa

63.635%

Middle East & Africa

816.7

60%

Americas

33.1

18%

Americas

116.1

9%

Asia & Oceania

51.4

28%

Asia & Oceania

335.1

25%

Others0.00%

Others

0.00%

DOMESTIC

36.3

20%

DOMESTIC

91.8

7%

184.3

100%

1,359.8

100%

TOTAL

TOTAL

8Ⅱ Growth Strategy

9

1 Hydrogen Business ~SPERA HydrogenTM~
Hydrogen Supply Chain Business in Singapore• Commenced Pre-Front End Engineering Design (Pre-FEED) for a cleanhydrogen supply chain in Singapore with Sembcorp Industries*1 andMitsubishi Corporation. Commercial operation commencing in 2026.
• Aiming for the largest clean hydrogen supply business in Asia with a capacityof approximately 60 kilotonnes per year*2
SPERA Hydrogen Connecting
Global Hydrogen Supply Chains
The Netherlands
Discussions ongoing to constructcommercial scale internationalhydrogen supply chain
Japan

Singapore
Pre-FEED
commenced
Green Hydrogen

Blue Hydrogen

Ambassador to Singapore Hiroshi Ishikawa (third from left)
Singapore Manpower Minister Tan See Leng (fourth from left)*1 A leading integrated utility Company and government-affiliated conglomerate in Singapore*2 Equivalent to generating approximately one million megawatt-hours of renewable energy, doubling
the current renewable energy output in Singapore

101 Hydrogen Business ~SPERA HydrogenTM~
Economy, Trade and Industry Minister Nishimura
Visits the Dehydrogenation Plant• During his visit to the TOA OIL CO., LTD. Keihin Refinery dehydrogenation
plant in October 2022, Minister Yasutoshi Nishimura received a lecture on
the global hydrogen supply chain demonstration, successfully completed byAHEAD*1 in 2020, and hydrogen storage and transportation using MCH*2.
AHEAD Global Hydrogen Supply
Chain Demonstration
OUTLINE

JapanApprox.

CapacityMax. 210 tonnes/year(Filling approx. 40,000 FCV)

Period2020

HydrogenSupplyBrunei Darussalam

Hydrogen
DemandGas fired power plant turbine
fuel in Kawaski

Transportation

ISO tank container(Container vessel / trailer)
AHEAD conducteddemonstration projectwith a NEDO subsidiy

5,000 km

Brunei

SchemeMinister Nishimura (third from left)*1 Advanced Hydrogen Energy chain Association for technology Development
AHEAD is composed of Chiyoda, Mitsubishi Corporation, Mitsui & Co., and NYK Line.

*2 Methylcyclohexane112 Low Carbon and Carbon Recycling
Joint Feasibility Study (FS) on Large Scale CCS*1with PT Pertamina in Indonesia• Business alliance based on the agreement with Pertamina
regarding cooperation in the decarbonization field in Indonesia.
• Conducting a joint FS for the construction and operation of facilities
to large-scale capture, transport and store CO2 produced as a byproduct from a chemical manufacturing plant in Indonesia• Supported by METI*2 in Japan as a bilateral cooperation agreement
strengthening the relationship between Japan and Indonesia

MOU signing ceremony at the2nd Asia Growth PartnershipMinisterial Meeting inSeptember 2022
*1 Carbon dioxide Capture and Storage*2 Ministry of Economy, Trade and Industry

122 Low Carbon and Carbon Recycling
e-fuel*1 Business• Commenced strategical collaboration with German Clean Techcompany INERATEC GmbH (INERATEC) on an e-fuel project toaccelerate decarbonization.
• Realizing joint e-fuel projects, including SAF*2 in Japan and theAsia-Pacific region, combining INERATEC’s innovative PtX*3
technology with Chiyoda’s engineering expertize

INERATEC’s industrial-scale
container size plant module*1 Manufactured using captured carbon dioxide and hydrogen obtained from sustainable electricity*2 Sustainable Aviation Fuel
*3 Power-to-X is a collective term for electricity conversion, energy storage, and reconversion pathways

13

3 Energy Management Business
JBIC*1 Managing Director Maeda Visits Energy
Storage System Facility• Mr. Tadashi Maeda visited the world’s largest Energy Storage System Facilitysite for North Hokkaido Wind Energy Transmission Corporation in August 2022.
• Chiyoda is currently carrying out EPC and study work and will provide a 20 year
maintenance work for the plant, further contributing to regional revitalization whiledeveloping local utility businesses through combined renewable energy andenergy storage projects.
Energy Storage System Facility

Mr. Maeda (fourth from left)*1 Japan Bank for International Cooperation*2 Engineering, procurement and construction

Computer Graphic by Chiyoda Corporation

14

4 Life Science Business
Applying Chiyoda’s Energy Expertize in the Bio-Foundry Field• Developing large-scale production technology and plant functional
protein systems through industry-academia collaboration,compatible for human application assuming application in the quasidrug area
• Applying our expertise in the energy business field to horizontallydevelop the bio-foundry field
Chiyoda’s Contribution

Selected NEDO’s*1 subsidizing program*2 GeneDuration FY2022～FY2024
Goal

recombination
technology

3Establish large-scale production AIST*

Osaka University*1 New Energy and Industrial Technology Development Organization*2 ‘Development of Bio-based Production Technology to Accelerate Carbon Recycling’*3 National Institute of Advanced Industrial Science and Technology

Large-scale
production
technology

Analysis andevaluation
methods

Nippi Incorporated

15

5 Digital Transformation (DX)~ PlantStreamTM ~A Revolutionary Space Design System• PlantStreamTM automatically designs pipes and cables in basic
engineering using CAD*, accelerating 3D model creation by up tofive times and reducing the process by approximately 80%.
• Licensed to over 10 domestic and international companies since its
launch 18 months ago, with a further 20 considering introduction• PlantStreamTM is implemented ‘in-house’, adding competitivenessAwarded first-place in the ‘good digital award’
start-up category by The Digital Agency
in September 2022

PlantStreamTM design image* Computer Aided Design16

Ⅲ Major Ongoing Projects

17

1III Major Ongoing Projects (Energy)
ProjectTangguh LNG Expansion,Indonesia

Golden Pass LNG, USA

NFE LNG, QatarClientBP Berau Ltd.

Golden Pass Products, LLC(QatarEnergy andExxonMobil JV)

QatarEnergy

JV Partner

Saipem, Tripatra

Zachry, McDermott

Technip Energies

ScheduledCompletion

Start up in 2023

2024 – 2025 (3 trains)

2025 – 2027 (4 trains)

StatusConstruction is in the final
stage and is approachingcompletion

Construction ongoing

Engineering and procurement
ongoing and constructioncommenced

Tangguh LNG, Indonesia

Courtesy of BP Berau Ltd.

Golden Pass LNG, US

Courtesy of Golden Pass Products, LLC

NFE LNG, Qatar

Plants Rendering

Courtesy of QatarEnergy

182III Major Ongoing Projects (Environment)
Project

Copper Smelting Plant,Indonesia

Vaccine Constituent
Production Facility

Energy Storage System
Facility

Field

Non-Ferrous Metal

Life Science

Energy Management

ClientP.T. Freeport Indonesia

SHIONOGI & CO., Ltd.

North Hokkaido Wind
Energy Transmission Corp.

ScheduledCompletion

2024

2023

2023

StatusEngineering, procurement
and construction ongoing

Commissioning ongoing

Commissioning ongoing

Copper Smelting Plant, Indonesia

Courtesy of Freeport-McMoRan Inc.

Vaccine Constituent Production Facility

Energy Storage System Facility

Completion Image

19Energy and Environment in Harmony

Chiyoda Corporation Corporate Services Department IR, PR & Sustainability Advanced 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 2022, All Rights Reserved.

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