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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 January, 2010
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 x Form 40-F o
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): o
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 o No x
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with
Rule 12g3-2(b): 82-
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| SIGNATURES | ||||||||
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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: January 29, 2010
Table of Contents
For immediate release
January 29, 2010
| Company name: | Makita Corporation | |
| Representative: | Masahiko Goto, President, Representative Director & CEO | |
| Stock ticker code: | 6586 |
Revision of Forecasts for Performance
Makita Corporation announces the following revisions in its forecasts for consolidated
performance (released on October 27, 2009) and non-consolidated performance (released on July 31,
2009) as follows.
1. Revised Forecast for Consolidated Performance for the fiscal year ending March 31, 2010
| Japanese yen in millions | Japanese yen | |||||||||||||||||||
| Earning per | ||||||||||||||||||||
| share (Basic) | ||||||||||||||||||||
| net income | ||||||||||||||||||||
| attributable to | ||||||||||||||||||||
| Net income | Makita | |||||||||||||||||||
| attributable | Corporation | |||||||||||||||||||
| Operating | Income before | to Makita | common | |||||||||||||||||
| Net sales | income | income taxes | Corporation | shareholders | ||||||||||||||||
| Outlook announced previously (A) | 230,000 | 26,000 | 28,000 | 16,700 | 121.22 | |||||||||||||||
| Revised forecast (B) | 242,000 | 30,000 | 33,000 | 21,000 | 152.44 | |||||||||||||||
| Change (B-A) | 12,000 | 4,000 | 5,000 | 4,300 | — | |||||||||||||||
| Percentage revision | 5.2% | 15.4% | 17.9% | 25.7% | — | |||||||||||||||
| Actual results for the previous fiscal year ended March 31, 2009 | 294,034 | 50,075 | 44,443 | 33,286 | 236.88 | |||||||||||||||
2. Revised Forecast for Non-Consolidated Performance for the fiscal year ending March 31, 2010
| Japanese yen in millions | Japanese yen | |||||||||||||||||||
| Operating | Ordinary | Net income | ||||||||||||||||||
| Net sales | income | Profit | Net income | per share | ||||||||||||||||
| Outlook announced previously (A) | 75,000 | (5,000 | ) | 1,700 | 2,000 | 14.52 | ||||||||||||||
| Revised forecast (B) | 79,600 | (1,200 | ) | 6,500 | 4,500 | 32.67 | ||||||||||||||
| Change (B-A) | 4,600 | 3,800 | 4,800 | 2,500 | — | |||||||||||||||
| Percentage revision | 6.1% | — | 282.4% | 125.0% | — | |||||||||||||||
| Actual results for the previous fiscal year ended March 31, 2009 | 113,976 | 7,482 | 17,731 | 13,629 | 96.99 | |||||||||||||||
3. Reasons for Revision of Forecast
(1) Consolidated financial forecast
The European market, which accounts for more than 40% of the consolidated net sales, has shown
signs of modest recovery. During the second half of this fiscal year, the demand in the North
America market has risen gradually compared with our previously forecast. Accordingly, it is
expected that net sales exceeding the forecast will be recorded.
Since the operating rates of our production sites have increased in line with the recovery of
demand, resulting in the decreasing cost of sales ratio, it is expected that profits will also
improve. Accordingly, the forecasts of consolidated performance for the fiscal year ending March
2010 announced on October 27, 2009 are revised as shown above.
The above forecast is based on the assumption of exchange rates of 90 yen to the U.S. dollar
and 130 yen to the euro for the fourth quarter of the fiscal year.
| 1 | ||||
English
Translation of press release originally issued
in Japanese |
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(2) Non-consolidated financial forecast
The global demand for power tools, which has remained weak due to the world recession that
began two years ago, shows signs of gradual recovery mainly in overseas markets.
Since the operating rates of our production sites have increased and the ratio of cost of
sales has improved, profits of the Company are expected to improve. Accordingly, the forecasts of
non-consolidated performance for the fiscal year ending March 2010 announced on July 31, 2009 are
revised as shown.
FORWARD-LOOKING STATEMENTS
This document contains forward-looking statements based on Makita’s own projections and estimates.
The power tools market, where Makita is mainly active, is subject to the effects of rapid shifts
in economic conditions, demand for housing, currency exchange rates, changes in competitiveness,
and other factors.
Due to the risks and uncertainties involved, actual results could differ substantially from the
content of these statements. Therefore, these statements should not be interpreted as
representation that such objectives will be achieved.
| 2 | ||||
English
Translation of press release originally issued
in Japanese |