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 October, 2009

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-        

 

 

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.

Date: October 27, 2009

For immediate release

October 27, 2009

Company name:		Makita Corporation
Representative:		Masahiko Goto, President & CEO
Stock ticker code:		6586

Revision of Forecasts for Performance

     Makita Corporation announces the following revisions in its forecasts for consolidated performance (released on April 28, 2009) and non-consolidated performance (released on July 31, 2009) as follows.

1. (1) Revised Forecast for Consolidated Performance for the six months ended September 30, 2009

 

Japanese yen in millions																		Japanese yen
For the six months ended September 30, 2009
		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
Initial forecast (A)			113,500				8,200				7,700				5,400				39.20
Revised forecast (B)			118,600				14,800				17,200				10,600				76.94
Change (B-A)			5,100				6,600				9,500				5,200				–
Percentage revision			4.5	%			80.5	%			123.4	%			96.3	%			–
Actual results for the six months ended September 30, 2008			175,558				36,047				34,710				24,851				175.60

1. (2) Revised Forecast for Consolidated Performance for the fiscal year ending March 31, 2010

 

Japanese yen in millions																		Japanese yen
For the fiscal year ending March 31, 2010
		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
Initial forecast (A)			230,000				18,000				17,000				12,000				87.11
Revised forecast (B)			230,000				26,000				28,000				16,700				121.22
Change (B-A)			–				8,000				11,000				4,700				–
Percentage revision			–				44.4	%			64.7	%			39.2	%			–
Actual results for the previous fiscal year ended March 31, 2009			294,034				50,075				44,443				33,286				236.88

English Translation of press release originally issued in Japanese		1

2.Revised Forecast for Non-Consolidated Performance for the six months ended September 30, 2009

 

Japanese yen in millions																		Japanese yen
For the six months ended September 30, 2009
		Net sales				Operating income				Ordinary Profit				Net income				Net income per share
Previous forecast (A)			34,700				(3,000	)			1,200				1,000				7.26
Revised forecast (B)			37,700				(2,100	)			5,100				3,900				28.31
Change (B-A)			3,000				900				3,900				2,900				–
Percentage revision			8.6	%			–				325.0	%			290.0	%			–
Actual results for the six months ended September 30, 2008			65,427				8,194				14,881				11,244				79.45

3. Reasons for Revision of Forecast
(1) Consolidated financial forecast

     Net sales on foreign currency were generally realized as initially forecasted. However, net sales for the period are expected to exceed the initial forecast. The main reason for this difference is that the euro, which represents about 40% of consolidated net sales, became stronger against the yen than expected.
     The ratio of cost of sales was expected to deteriorate due to production volume was reduced drastically to improve inventory level. Nevertheless, incomes are expected to exceed the initial forecast. The main reasons for this difference are the further appreciation of the euro than predicted, the increase in the composition ratio of the manufacturing subsidiaries in China, and our cost reduction efforts.
     The forecast of exchange rate for the second half of the fiscal year is changed from 95 yen to the U.S. dollar to 90 yen and 125 yen to the euro to 130 yen, respectively.

(2) Non-consolidated financial forecast
     Net sales are expected to exceed the forecast because the value of the yen was weaker than expected.
     Operating deficit decreased due to the yen’s depreciation and our cost reduction efforts. Dividends from subsidiaries were paid by the end of the six months, earlier than previously forecasted. As a result, incomes are expected to exceed the forecast.
     At this point, however, no modification is made to the forecasts for non-consolidated operating results for the fiscal year ending March 31, 2010.

English Translation of press release originally issued in Japanese		2