<< Translation for Reference>>
May 7, 2019
Company Name: Chiyoda Corporation
President&CEO: Masaji Santo
Stock Code: 6366
Stock Listing: First Section of the Tokyo Stock Exchange
Inquiries: Masaru Akiyama, GM, Accounting Department
Telephone: +81-45-225-7745
Notice of Revisions to the Forecast of Consolidated Results
Chiyoda Corporation (“Chiyoda”) announces today, May 7th 2019, the following revisions to its consolidated
financial forecast for the fiscal year ended March 31, 2019, previously revised on October 31, 2018.
1. Revisions to the Full-Year Consolidated Financial Forecasts
for the Fiscal Year ended March 31, 2019 (April 1, 2018 - March 31, 2019).

400,000
340,000(60,000)(15.0)

Operating
Income(86,500)(200,000)( 113,500)-Ordinary
Income(86,500)(193,000)(106,500)-

510,873(12,330)(10,100)

Revenues
Previous Forecast (A)Revised Forecast (B)Increase (Decrease) (B-A)
Percentage Increase (Decrease) (%)（Reference）
Results FY ended March 31, 2018

(Millions of Yen)
(105,000)(215,000)(110,000)
-

EPS*2
(Yen)
(405.46)(830.22)
-

6,445

24.89

Profit*1*1= Attributable to owners of parent*2= Earnings per Share
2． Reason for Revisions to the Full-Year Consolidated Financial Forecasts
The new “Strategy & Risk Integration Division”, including the engagement of external specialists assenior management, started its operation and further enhance existing risk management capability in order
to cope with various risk factors including unforeseeable external incidents. As a result of this extensive
re-assessment of potential risks, based on strict standards from a third party’s perspective, a significant
amount of additional costs for ongoing large scale LNG projects, pending arbitration cases and small tomedium size projects were recognized. The outlines are as follows:
A substantial volume of unanticipated additional works occurred in the final phase of construction workof Cameron Train-1. Furthermore, a continuously high turnover ratio of labor has led to ongoing low
productivity in the workforce. As a result of the strict re-assessment of these project conditions, similar
constraints are expected for completion of Trains 2 and 3 and therefore are recognized as additional costs.
The Tangguh LNG Project in Indonesia: The project schedule is being impacted by several factors, andrequires significant amount of additional works and costs to complete the project. The client andcontractor are under negotiations on schedule and costs. In addition to risk assessment for project
execution, risk evaluation of pending arbitration cases has been revised.
Due to the above reasons, Chiyoda has revised its forecasts as follows: partly due to less than previously
anticipated progress ratio, the revenue is expected to be 340.0bn JPY, 60bn yen less than initiallyforecasted, Operating loss forecast increased 113.5 bn to 200bn yen, Ordinary loss forecast increased
106.5 to 193.0 bn yen and Loss attributable to owners of parent forecast increased 110.0 bn to 215.0 bnyen.
Details to be announced in the year end results on May 9, 2019.

Forward-looking Statement
The forecast and plans in this announcement are based on information available to the management on May 7, 2019, the datethese materials were prepared. Actual results may differ significantly from these forecasts for a number of factors, including
but not limited to changes in economic conditions and operation environment in Japan and overseas.

End