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Investor Relations

To Our Stakeholders

Thank you for your continued support over this past fiscal year.

I would like to present the Chiyoda Group’s annual report for the fiscal year ended March 31, 2012.

In the fiscal year under review, the Chiyoda Group leveraged its long experience in large-scale LNG plant projects and put it to use in ongoing projects in Papua New Guinea and Australia. In this way, the Group was able to exceed its initial earnings target thanks to the steady execution of construction projects and strong efforts made to win new orders.

Despite such economic uncertainties as the impact of the Great East Japan Earthquake and the appreciating yen continue, demand for energy and resources has been firm and large investments are moving forward. Against this backdrop, we received our largest ever LNG plant order and a new energy-related plant order for Southeast Asia.

We are now in the third year of our medium-term business plan entitled “Engineering Excellence, Value Creation 2012,” and one year has passed since we implemented the plan’s various measures that form the foundation for future growth.

In the years ahead, we will bring these measures to a successful conclusion and the entire Chiyoda Group management team and staff will eagerly work to further raise corporate value.

I ask all of our shareholders for your continued support in our ongoing efforts.

Sincerely yours,

Takashi Kubota, Executive Chairman
Shogo Shibuya, President & CEO
Chiyoda Corporation

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