Chiyoda Announces the Financial Results for the First Quarter of the Fiscal Year Ending March 31, 2009
YOKOHAMA, Japan--(Business Wire)--
Chiyoda Corporation (TOKYO:6366)(ISIN:JP3528600004), Japan's
leading engineering and construction firm, today reported consolidated
financial results for the first three months of the current fiscal
year ending March 31, 2009.
New contracts on a consolidated basis were 46,273 million yen, a
28.4% decrease compared with the same period of the previous year, and
the backlog of contracts decreased 38.1% to 620,382 million yen. Net
sales decreased 18.5% to 114,347 million yen. Operating income
decreased 81.4% to 1,353 million yen, ordinary income decreased 69.4%
to 3,274 million yen and net income decreased 66.6% to 1,785 million
yen. Net income per share was 7.50 yen.
In overseas markets, plans for the construction of new plants
around the world are being driven by growth in global energy demand.
Chiyoda was awarded the Front-End Engineering Design (FEED) and
execution planning work for the Barzan onshore gas project in Qatar.
Capital investment by oil, power and gas companies in the domestic
market has also been lively.
Meanwhile, amid a serious worldwide shortage of skilled
construction workers, Chiyoda continues to implement a high level of
risk management including measures to counter rising costs and is
making concerted efforts to execute ongoing projects properly
including three large-scale liquefied natural gas (LNG) plants in
Qatar.
Chiyoda is making no revision at this time to its interim and
full-year consolidated financial results for the fiscal year ending
March 31, 2009, or to the year-end dividend of 11 yen per share,
announced on May 14, 2008. Forecasts continue to assume an exchange
rate of 100 yen to the U.S. dollar.
Chiyoda Corporation, headquartered in Yokohama, Japan, provides
services in the field of engineering, procurement and construction
(EPC), particularly in Gas Value Chain areas, for gas processing, oil
refineries and other hydrocarbon processing and industrial plant
projects 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.
Chiyoda Corporation
Ken Ito or Kenichi Aoki, +81-45-506-7538
Investors Relations and Corporate Communications Office
kenaoki@ykh.chiyoda.co.jp
Fax: +81-45-506-7085
http://www.chiyoda-corp.com
Copyright Business Wire 2008
