Form 6-K

 

 

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 or 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of July, 2012

Commission file number 0-12602

MAKITA CORPORATION

 

(Translation of registrant’s name into English)

3-11-8, Sumiyoshi-cho, Anjo City, Aichi Prefecture, Japan

 

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F  þ      Form 40-F  ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b)(1):  x

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b)(7):  ¨

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes  ¨                    No  þ

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-       

 

 

 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

MAKITA CORPORATION

        (Registrant)     

By:

 

/s/ Masahiko Goto

    
  Masahiko Goto     
  President, Representative Director and     
  Chief Executive Officer     

Date: July 31, 2012


 

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Makita Corporation

Consolidated Financial Results

for the three months

ended June 30, 2012

(U.S. GAAP Financial Information)

(English translation of “KESSAN TANSHIN”

originally issued in Japanese)


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CONSOLIDATED FINANCIAL RESULTS

FOR THE THREE MONTHS ENDED JUNE 30, 2012 (Unaudited)

July 31, 2012

Makita Corporation

Stock code: 6586

URL: http://www.makita.co.jp/

Masahiko Goto, President, Representative Director & CEO

1. Summary operating results of the three months ended June 30, 2012 (From April 1, 2012 to June 30, 2012)

(1) CONSOLIDATED OPERATING RESULTS

      Yen (millions)  
     For the three months ended
June 30, 2011
         For the three months ended
June 30, 2012
 
            %                %  

Net sales

     76,078         17.4           74,942        (1.5

Operating income

     13,011         28.4           11,979        (7.9

Income before income taxes

     13,449         43.2           10,153        (24.5

Net income attributable to Makita Corporation

     9,456         56.4           6,991        (26.1

Comprehensive income (loss)

     7,616                   (8,101       
             Yen           

Earning per share (Basic)

            

Net income attributable to Makita Corporation common shareholders

     68.64                      51.50           

Notes:

  1.

Amounts of less than one million yen have been rounded.

  2.

The table above shows the changes in the percentage ratio of net sales, operating income, income before income taxes, and net income attributable to Makita Corporation against the corresponding period of the previous year.

(2) SELECTED CONSOLIDATED FINANCIAL POSITION

      Yen (millions)  
     As of
March 31, 2012
         As of
June 30, 2012
 

Total assets

     383,256           357,171   

Total equity

     323,778           307,938   

Total Makita Corporation shareholders’ equity

     321,253           305,635   

Total Makita Corporation shareholders’ equity ratio to total assets (%)

     83.8%           85.6%   
2. Dividend Information        
      Yen  
     For the year ended
March 31, 2012
         For the year ending
March 31, 2013
(Forecast)
 

Cash dividend per share:

       

Interim

     15.00           15.00   

Year-end

     57.00           (Note

Total

     72.00             (Note

Notes:

The forecast for cash dividend announced on April 27, 2012 has not been revised.

 

 

   1

English translation of “KESSAN TANSHIN” originally issued in Japanese

  


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3. Consolidated Financial Performance Forecast for the year ending March 31, 2013 (From April 1, 2012 to March 31, 2013)

      Yen (millions)  
     For the six months ending
September 30, 2012
    For the year ending
March 31, 2013
 
                        %                    %  

Net sales

     144,000         (5.9     280,000         (5.3

Operating income

     21,600         (19.9     38,000         (21.7

Income before income taxes

     19,200         (21.7     35,000         (25.5

Net income attributable to Makita Corporation

     13,400         (21.7     24,000         (26.1
 
     Yen  

Earning per share (Basic)

          

Net income attributable to Makita Corporation common shareholders

     98.71                 176.80            

Notes:

The consolidated financial forecast for the year ending March 31, 2013 has been revised.

4. Other

(Refer to [Qualitative Information and Financial Statements] Section 4 “Other” on page 5.)

(1)

Changes in important subsidiaries during the period (Changes in specified subsidiaries accompanied by changes in scope of consolidation during the quarter): Not applicable

 

(2)

Adoption of simplified accounting methods and accounting methods that are specific to the preparation of quarterly consolidated financial statements: Yes

 

(3) Changes in accounting policies, procedures and presentation rules applied in the preparation of the quarterly consolidated financial statements:
  1. Changes due to revisions to accounting standards:
  2. Changes due to other reasons: Not applicable

 

(4) Number of shares outstanding (common stock)

 

1. Number of shares issued (including treasury stock):

   As of June 30, 2012:         140,008,760   
   As of March 31, 2012:         140,008,760   

2. Number of treasury stock:

   As of June 30, 2012:         4,258,541   
   As of March 31, 2012:         4,258,242   

3. Average number of shares outstanding:

   For the three months ended June 30, 2012:         135,750,299   
   For the three months ended June 30, 2011:         137,757,364   

Information regarding quarterly review

This consolidated financial results is not subject to a quarterly review stipulated under the Financial Instruments and Exchange Act. As of the release date of this document, the quarterly review under the Financial Instruments and Exchange Act has not been completed.

Explanation regarding proper use of business forecasts, and other significant matters

Regarding the assumptions for the forecasts and other matters, refer to [Qualitative Information and Financial Statements] Section 3 “Qualitative information on consolidated financial performance forecast” on page 4. The financial forecasts given above are based on information as available at the present time, and include potential risks and uncertainties. As a consequence of the factors above and other, actual results may vary from the forecasts provided above.

 

 

   2

English translation of “KESSAN TANSHIN” originally issued in Japanese

  


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[Qualitative Information and Financial Statements]

1. Qualitative Information on Consolidated Operating Results

Looking at the global economic situation during the first three-month period of the fiscal year ending March 31, 2013, In Europe, Western Europe's economy remained sluggish due to the deterioration of the financial crisis in the region. However, the Russian economy was still solid due to the continuing high level of crude oil prices. In the United States, the economy remained weak because the housing market was still stagnant, though consumer spending showed some signs of recovery. In Asia, the economy expanded mainly in the Southeast Asia though the growth of the Chinese economy slowed down. The economy in Central and South America, which had been enjoying steady growth, started losing steam. Meanwhile, in Japan, the economy continued gradual recovery due to increasing demand for reconstruction from the Great East Japan Earthquake.

In the first three-month period of the current fiscal year, our consolidated net sales decreased by 1.5% from a year earlier to 74,942 million yen. This was because demand slowed down in Europe and the yen became stronger against other major currencies compared to the same period in the previous year, although sales were solid in Japan. As for incomes, operating income decreased by 7.9% from a year earlier to 11,979 million yen (operating income ratio: 16.0%) due to a decline in the rate of operation at the plant compared to the previous year as well as a fall in net sales. Income before income taxes decreased by 24.5% from a year earlier to 10,153 million yen (income before income taxes ratio: 13.5%) due to an increase in non-operating expense, such as foreign exchange losses of 2,176 million yen because of the yen’s appreciation. Consequently, net income attributable to Makita Corporation plunged by 26.1% from a year earlier to 6,991 million yen (net income attributable to Makita Corporation ratio: 9.3%).

Net sales by region are as follows:

Net sales in Japan increased by 11.5% to 13,059 million yen compared to the same period of the previous year. This was because of the continuing favorable sales of lithium-ion battery products, mainly impact drivers.

Net sales in Europe decreased by 7.4% to 30,238 million yen compared to the same period of the previous year. This was due to sales in Western Europe declined because of the effects of the financial uncertainty and a sharp appreciation of the yen against the euro from a year earlier, though sales to Russia continued to be strong.

Net sales in North America decreased by 1.5% from a year earlier to 9,668 million yen, because the U.S. housing market did not show a full recovery, although sales of cordless tools with lithium-ion battery were strong.

Net sales in Asia increased by 2.8% from a year earlier to 7,451 million yen, because demands were robust in Southeast Asian countries, although sales stalled in China.

Sales situation in other regions are as follows: Net sales in Central and South America decreased by 16.7% from a year earlier to 5,056 million yen, because demand was on the wane. Net sales in Oceania dropped by 1.3% from a year earlier to 4,674 million yen. Meanwhile, net sales in the Middle East and Africa increased by 25.1% from a year earlier to 4,796 million yen, because demand was strong in the Persian Gulf countries.

2. Qualitative Information on Consolidated Financial Position

Total assets as of June 30, 2012 decreased by 26,085 million yen to 357,171 million yen compared to the balance as of March 31, 2012. The decrease was mainly due to a decline in “Inventories” and “Time deposits”.

Total liabilities as of June 30, 2012 decreased by 10,245 million yen to 49,233 million yen compared to the balance as of March 31, 2012. The decrease was mainly due to a decline in “Trade notes and accounts payable” and “Income taxes payable”.

Total equity as of June 30, 2012 decreased by 15,840 million yen to 307,938 million yen compared to the balance as of March 31, 2012. The decrease was mainly due to a change in foreign currency translation adjustment because the yen remained stronger against other currencies compared to March 31, 2012.

 

 

   3

English translation of “KESSAN TANSHIN” originally issued in Japanese

  


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3. Qualitative Information on Consolidated Financial Performance Forecast

Our sales during the first quarter of the current fiscal year as a whole were, although with some variations by regions, about the same level as we had expected. We revise our forecast, however, since the yen appreciation against foreign currencies including euro has been higher than our projection that was published on April 27, 2012.

Revised Forecast for Consolidated Performance during the fiscal 2012 (from April 1, 2012 to March 31, 2013)

      Yen (millions)     Yen  
For the six months ending September 30, 2012  
     Net sales     Operating
income
    Income
before
income taxes
    Net income
attributable
to Makita
Corporation
    Earning per share
(Basic)
Net income
attributable to
Makita
Corporation
common
shareholders
 

Outlook announced previously (A)

     150,500        22,600        22,700        15,400        113.44   

Revised forecast (B)

     144,000        21,600        19,200        13,400        98.71   

Change (B-A)

     (6,500     (1,000     (3,500     (2,000       

Percentage revision

     (4.3%     (4.4%     (15.4%     (13.0%       

Actual results for the previous period ended September 30, 2011

     153,036        26,953        24,514        17,104        124.16   

 

      Yen (millions)     Yen  
For the year ending March 31, 2013  
     Net sales     Operating
income
    Income
before
income taxes
    Net income
attributable
to Makita
Corporation
    Earning per share
(Basic)
Net income
attributable to
Makita
Corporation
common
shareholders
 

Outlook announced previously (A)

     301,500        44,000        44,200        30,000        220.99   

Revised forecast (B)

     280,000        38,000        35,000        24,000        176.80   

Change (B-A)

     (21,500     (6,000     (9,200     (6,000       

Percentage revision

     (7.1%     (13.6%     (20.8%     (20.0%       

Actual results for the previous period ended March 31, 2012

     295,711        48,516        46,963        32,497        236.78   

The above forecast is based on the assumption of exchange rates of 78 yen to the U.S. dollar and 93 yen to the euro for the nine months period ending March 31, 2013.

(Reference) Our previous exchange rates that we announced on April 27, 2012 were 81 yen to the U.S. dollar and 107 yen to the euro.

The above forecast is based on information as available at the present time, and includes potential risks and uncertainties. As a consequence of the factors above and other, actual results may vary from the forecast provided above.

 

 

   4

English translation of “KESSAN TANSHIN” originally issued in Japanese

  


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4. Other

(1)

Changes in important subsidiaries during the period (Changes in specified subsidiaries accompanied by changes in scope of consolidation during the quarter): None

 

(2)

Adoption of simplified accounting methods and accounting methods that are specific to the preparation of quarterly consolidated financial statements:

With regard to the income tax expenses, the Company computes interim income tax expense by multiplying reasonably estimated annual effective tax rate, which includes the effects of deferred taxes, by year-to-date income before income taxes for the reporting period.

 

(3)

Changes in accounting principles, procedures and presentations:

In June 2011, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2011-05, Comprehensive Income (Accounting Standards Codification (ASC) Topic 220): Presentation of Comprehensive Income. ASU2011-05 requires an entity to report comprehensive income either in a single continuous financial statement or in two separate but consecutive financial statements. The Company adopted ASU2011-05 for the three months ended in June 30, 2012. This adoption did not have an impact on the Company’s financial position and results of operations.

 

 

   5

English translation of “KESSAN TANSHIN” originally issued in Japanese

  


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5. Consolidated Financial Statements (Unaudited)

(1) Consolidated Balance Sheets

      Yen (millions)  
      As of March 31, 2012      As of June 30, 2012  
     Composition ratio      Composition ratio  

ASSETS

         

CURRENT ASSETS:

         

Cash and cash equivalents

     44,812           42,936     

Time deposits

     13,504           8,936     

Short-term investments

     25,125           21,779     

Trade receivables-

         

Notes

     1,769           1,988     

Accounts

     48,445           45,175     

Less- Allowance for doubtful receivables

     (753        (690  

Inventories

     129,571           119,833     

Deferred income taxes

     5,898           5,341     

Prepaid expenses and other current assets

     8,392           8,601     
  

 

 

      

 

 

   

Total current assets

     276,763        72.2%         253,899        71.1%   
  

 

 

      

 

 

   

PROPERTY, PLANT AND EQUIPMENT, at cost:

         

Land

     20,498           20,129     

Buildings and improvements

     73,332           74,252     

Machinery and equipment

     75,460           74,175     

Construction in progress

     6,594           4,138     
  

 

 

      

 

 

   
     175,884           172,694     

Less- Accumulated depreciation

     (98,146        (97,380  
  

 

 

      

 

 

   

Total net property, plant and equipment

     77,738        20.3%         75,314        21.1%   
  

 

 

      

 

 

   

INVESTMENTS AND OTHER ASSETS:

         

Investments

     19,154           17,663     

Goodwill

     721           721     

Other intangible assets, net

     4,515           4,485     

Deferred income taxes

     853           1,031     

Other assets

     3,512           4,058     
  

 

 

      

 

 

   

Total investments and other assets

     28,755        7.5%         27,958        7.8%   
  

 

 

   

 

 

    

 

 

   

 

 

 

Total assets

     383,256        100.0%         357,171        100.0%   
  

 

 

   

 

 

    

 

 

   

 

 

 
                                   

 

 

   6

English translation of “KESSAN TANSHIN” originally issued in Japanese

  


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      Yen (millions)
      As of March 31, 2012      As of June 30, 2012        
               Composition ratio      Composition ratio       

LIABILITIES

                        

CURRENT LIABILITIES:

                        

Short-term borrowings

           2,351                 2,009        

Trade notes and accounts payable

           21,822                 17,965        

Other payables

           4,313                 5,063        

Accrued expenses

           6,314                 4,916        

Accrued payroll

           7,803                 5,732        

Income taxes payable

           5,293                 2,123        

Deferred income taxes

           125                 96        

Other current liabilities

           5,697                 5,827        
        

 

 

            

 

 

      

Total current liabilities

           53,718        14.0%               43,731        12.3%      
        

 

 

            

 

 

      

LONG-TERM LIABILITIES:

                        

Long-term indebtedness

           12                 10        

Accrued retirement and termination benefits

           3,027                 2,845        

Deferred income taxes

           130                 117        

Other liabilities

           2,591                 2,530        
        

 

 

            

 

 

      

Total long-term liabilities

           5,760        1.5%               5,502        1.5%      
        

 

 

            

 

 

      

Total liabilities

           59,478        15.5%               49,233        13.8%      
        

 

 

            

 

 

      

EQUITY

                        

MAKITA CORPORATION SHAREHOLDERS’

                        

EQUITY:

                        

Common stock

           23,805                 23,805        

Additional paid-in capital

           45,421                 45,421        

Legal reserve

           5,669                 5,669        

Retained earnings

           316,937                 316,190        

Accumulated other comprehensive income (loss)

           (59,066              (73,936     

Treasury stock, at cost

           (11,513              (11,514     
        

 

 

            

 

 

      

Total Makita Corporation shareholders’ equity

           321,253        83.8%               305,635        85.6%      
        

 

 

   

 

 

          

 

 

   

 

 

    

NONCONTROLLING INTEREST

           2,525        0.7%               2,303        0.6%      
        

 

 

   

 

 

          

 

 

   

 

 

    

Total equity

           323,778        84.5%               307,938        86.2%      
        

 

 

   

 

 

          

 

 

   

 

 

    

Total liabilities and equity

           383,256        100.0%               357,171        100.0%      
        

 

 

   

 

 

          

 

 

   

 

 

    
                                                            

 

      As of March 31, 2012      As of June 30, 2012  

Total number of shares authorized

     496,000,000         496,000,000   

Number of shares issued

     140,008,760         140,008,760   

Number of shares issued (excluding treasury stock)

     137,750,518         135,750,219   

Number of treasury stock

     4,258,242         4,258,541   

 

 

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English translation of “KESSAN TANSHIN” originally issued in Japanese

  


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(2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income

      Consolidated Statements of Income

 

      Yen (millions)  
      For the three months
ended June 30, 2011
     For the three months
ended June 30, 2012
 
     Composition ratio      Composition ratio  

NET SALES

     76,078        100.0%         74,942        100.0%   

Cost of sales

     45,922        60.4%         46,034        61.4%   
  

 

 

    

 

 

 

GROSS PROFIT

     30,156        39.6%         28,908        38.6%   

Selling, general, administrative and others, net

     17,145        22.5%         16,929        22.6%   
  

 

 

    

 

 

 

OPERATING INCOME

     13,011        17.1%         11,979        16.0%   
  

 

 

    

 

 

 

OTHER INCOME (EXPENSES):

         

Interest and dividend income

     436           437     

Interest expense

     (21        (83  

Exchange gains (losses) on foreign currency transactions, net

     64           (2,176  

Realized gains (losses) on securities, net

     (41        (4  
  

 

 

    

 

 

 

Total

     438        0.6%         (1,826     (2.5)%   
  

 

 

    

 

 

 

INCOME BEFORE INCOME TAXES

     13,449        17.7%         10,153        13.5%   
  

 

 

    

 

 

 

PROVISION FOR INCOME TAXES:

         

Current

     2,850           2,560     

Deferred

     1,039           586     
  

 

 

    

 

 

 

Total

     3,889        5.1%         3,146        4.2%   
  

 

 

    

 

 

 

NET INCOME

     9,560        12.6%         7,007        9.3%   

Less: Net income attributable to the noncontrolling interest

     (104     (0.2)%         (16     (0.0)%   
  

 

 

    

 

 

 

NET INCOME ATTRIBUTABLE TO MAKITA CORPORATION

     9,456        12.4%         6,991        9.3%   
  

 

 

    

 

 

 
                                   

 

 

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English translation of “KESSAN TANSHIN” originally issued in Japanese

  


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Consolidated Statements of Comprehensive Income

 

      Yen (millions)  
     For the three months
ended June 30, 2011
    For the three months
ended June 30, 2012
 

NET INCOME

     9,560        7,007   

OTHER COMPREHENSIVE INCOME (LOSS)

    

Foreign currency translation adjustment

     (1,825     (14,267

Unrealized holding gains (losses) on available-for- sale securities

     (152     (910

Pension liability adjustment

     33        69   
  

 

 

   

 

 

 

Total

     (1,944     (15,108
  

 

 

   

 

 

 

COMPREHENSIVE INCOME (LOSS)

     7,616        (8,101

Less: Comprehensive income attributable to the non-controlling interest

     83        (222
  

 

 

   

 

 

 

COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO MAKITA CORPORATION

     7,533        (7,879
  

 

 

   

 

 

 
    
                  

 

 

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English translation of “KESSAN TANSHIN” originally issued in Japanese

  


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(3) Condensed Consolidated Statements of Cash Flows

      Yen (millions)  
     For the three months
ended June 30, 2011
         For the three months
ended June 30, 2012
 

Net cash used in operating activities

     (4,277        (108

Net cash provided by investing activities

     11,208           5,086   

Net cash used in financing activities

     (4,592        (7,142

Effect of exchange rate changes on cash and cash equivalents

     (829        288   
  

 

 

      

 

 

 

Net change in cash and cash equivalents

     1,510           (1,876

Cash and cash equivalents, beginning of period

     51,833           44,812   
  

 

 

      

 

 

 

Cash and cash equivalents, end of period

     53,343           42,936   
  

 

 

      

 

 

 
       
                       

(4) Note on the preconditions for a going concern: None

(5) Condensed Operating Segment Information

      Yen (millions)  
     For the three months ended June 30, 2011  
     Japan      Europe      North
America
     Asia      Other      Total      Elimi-
nations
    Consoli-
dated
 

Sales:

                      

(1) External customers

     16,507         32,601         9,977         3,728         13,265         76,078                76,078   

(2) Inter-segment

     13,664         786         905         30,263         228         45,846         (45,846       
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Total

     30,171         33,387         10,882         33,991         13,493         121,924         (45,846     76,078   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Operating expenses

     26,259         29,535         10,208         30,099         11,540         107,641         (44,574     63,067   

Operating income

     3,912         3,852         674         3,892         1,953         14,283         (1,272     13,011   

 

      Yen (millions)  
     For the three months ended June 30, 2012  
     Japan      Europe      North
America
     Asia      Other      Total      Elimi-
nations
    Consoli-
dated
 

Sales:

                      

(1) External customers

     18,506         30,808         9,600         3,314         12,714         74,942                74,942   

(2) Inter-segment

     10,824         1,008         620         26,927         14         39,393         (39,393       
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Total

     29,330         31,816         10,220         30,241         12,728         114,335         (39,393     74,942   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

   

 

 

 

Operating expenses

     26,218         28,575         9,701         26,752         10,955         102,201         (39,238     62,963   

Operating income

     3,112         3,241         519         3,489         1,773         12,134         (155     11,979   

(6) Note in case there is any significant change in the shareholders’ equity: None

 

 

   10

English translation of “KESSAN TANSHIN” originally issued in Japanese

  


LOGO

 

SUPPORT DOCUMENTATION (CONSOLIDATED)

1. Consolidated Financial Results and Forecast

                    Yen (millions)  
                 For the three months
ended June 30, 2011
    For the three months
ended June 30, 2012
 
         (%)        (%)   

Net sales

  

     76,078         17.4        74,942         (1.5

Domestic

  

     11,708         14.8        13,059         11.5   

Overseas

  

     64,370         17.8        61,883         (3.9

Operating income

  

     13,011         28.4        11,979         (7.9

Income before income taxes

  

     13,449         43.2        10,153         (24.5

Net income attributable to Makita Corporation

  

     9,456         56.4        6,991         (26.1

Earning per share (Basic)

  

    

Net income attributable to Makita Corporation common shareholders (Yen)

  

     68.64        51.50   

Number of employees

  

     11,856        12,501   
              
     Yen (millions)  
    For the year ended
March 31, 2012
     For the six months
ending September 30,
2012

(Forecast)
    For the year ending
March 31, 2013

(Forecast)
 
    (%)         (%)        (%)   

Net sales

    295,711        8.5         144,000         (5.9     280,000         (5.3

Domestic

    53,175        15.4         26,500         4.9        54,700         2.9   

Overseas

    242,536        7.0         117,600         (8.0     225,300         (7.1

Operating income

    48,516        15.8         21,600         (19.9     38,000         (21.7

Income before income taxes

    46,963        9.9         19,200         (21.7     35,000         (25.5

Net income attributable to Makita Corporation

    32,497        8.7         13,400         (21.7     24,000         (26.1

Earning per share (Basic)

              
Net income attributable to Makita Corporation common shareholders (Yen)     236.78         98.71        176.80   

Number of employees

    12,563                  

Notes:

1.

The table above shows the changes in the percentage ratio of Net sales, Operating income, Income before income taxes, and Net income attributable to Makita Corporation against the corresponding period of the previous year.

2.

Please refer to page 4 for the qualitative information on consolidated financial forecast for the six months and fiscal year 2013.

 

 

   11

English translation of “KESSAN TANSHIN” originally issued in Japanese

  


LOGO

 

2. Consolidated Net Sales by Geographic Area

      Yen (millions)  
     For the three months
ended June 30,
2011
    For the three months
ended June 30,
2012
    For the year ended
March 31, 2012
 
     (%)     (%)     (%)  

Japan

     11,708         14.8        13,059         11.5        53,175         15.4   

Europe

     32,665         18.3        30,238         (7.4     123,251         6.3   

North America

     9,816         6.4        9,668         (1.5     37,475         1.0   

Asia

     7,249         36.4        7,451         2.8        26,013         12.7   

Other regions

     14,640         17.5        14,526         (0.8     55,797         10.7   

Central and South America

     6,073         38.9        5,056         (16.7     23,370         15.2   

Oceania

     4,734         21.5        4,674         (1.3     17,780         15.6   

The Middle East and Africa

     3,833         (8.5     4,796         25.1        14,647         (0.5

Total

     76,078         17.4        74,942         (1.5     295,711         8.5   
Note: The table above sets forth Makita's consolidated net sales by geographic area based on the customer’s location for the periods presented. Accordingly, it differs from operating segment information on page 10. The table above shows the changes in the percentage ratio of Net sales against the corresponding period of the previous year.

3. Exchange Rates

     Yen
    For the
three months ended
June 30, 2011
      For the
three months ended
June 30, 2012
      For the
year ended
March 31, 2012
      For the
six months ending
September  30,
2012

(Forecast)
  For the
year ending
March 31, 2013

(Forecast)

Yen/U.S. Dollar

    81.71       80.18       79.06       79   79

Yen/Euro

  117.38       102.84       109.00       98   95
4. Production Ratio (unit basis)                            
                         For the
three months ended
June 30, 2011
       For  the
three months ended
June 30, 2012
  For the
year  ended

March 31, 2012
                    Composition ratio       Composition ratio   Composition ratio

Domestic

          12.9%     11.2%   12.2%

Overseas

                  87.1%       88.8%   87.8%
5. Consolidated Capital Expenditures, Depreciation and Amortization, and R&D cost    
     Yen (millions)
            For the
three months ended
June  30, 2011
      For the
three months  ended
June 30, 2012
      For the
year ended
March 31, 2012
  For the
year ending
March 31, 2013

(Forecast)

Capital expenditures

      2,530     2,200     13,481   14,000

Depreciation and amortization

      1,715     1,754     7,237     7,800

R&D cost

          1,935       2,048       7,603     8,500

 

 

   12

English translation of “KESSAN TANSHIN” originally issued in Japanese