YOKOHAMA, Japan--(BUSINESS WIRE)--Chiyoda Corporation (TOKYO:6366) today announces the following extraordinary losses in the third quarter (from October 1, 2010 to December 31, 2010) of the current fiscal year ending March 31, 2011.
1. Description of extraordinary losses
Chiyoda Corporation decided to forward its office integration plan in the board meeting held in December 2010. This decision is in line with the Mid-term Management Plan announced on May 13, 2009, which mentions our investment plan for "information technology, office and other infrastructure to strengthen our management foundation". As a result of this decision, the Chiyoda Group incurred extraordinary losses of 3,955 million yen regarding the office integration.
2. Impact on financial results
The foregoing extraordinary losses were already incorporated in the forecasts released through the announcement regarding revisions to forecasts of financial results on November 11, 2010.
3. Forward-looking statements
The forecasts in this announcement are based on information available to management on February 8, 2011, the date this material was prepared. Actual results may differ significantly from these forecasts due to a number of factors, including but not limited to changes in economic conditions and operating environment in Japan and overseas. We strongly request you not to rely only on this forecast in making investment decisions.