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, 2008
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 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): þ
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 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 and Representative Director | ||||
Date: January 31, 2008
For immediate release
January 31, 2008
| Company name: | Makita Corporation | |
| Representative: | Masahiko Goto, President | |
| Code number: | 6586 |
Revision of the Outlook for Performance
Makita Corporation announces the following revisions in its outlook for consolidated
and non-consolidated performance released with the announcement of interim results for the six
months ended October 31, 2007.
| 1. | Revised outlook for consolidated performance during the fiscal 2008 (from April 1, 2007, to March 31, 2008) |
| (Million yen) | ||||||||||||||||
| Income before | ||||||||||||||||
| Net sales | Operating income | income taxes | Net income | |||||||||||||
Outlook announced previously (A) |
330,000 | 62,000 | 62,500 | 42,800 | ||||||||||||
Revised outlook (B) |
338,000 | 66,000 | 66,000 | 45,200 | ||||||||||||
Change (B-A) |
8,000 | 4,000 | 3,500 | 2,400 | ||||||||||||
Percentage revision |
2.4 | % | 6.5 | % | 5.6 | % | 5.6 | % | ||||||||
Actual results for the previous year
ended March 31, 2007 |
279,933 | 48,176 | 49,323 | 36,971 | ||||||||||||
(Note) Net income per share for the fiscal year is projected to be 314.38 yen.
| 2. | Revised outlook for non-consolidated performance during the fiscal 2008 (from April 1, 2007, to March 31, 2008) |
| (Million yen) | ||||||||||||||||
| Ordinary | ||||||||||||||||
| Net sales | Operating income | profit | Net income | |||||||||||||
Outlook announced previously (A) |
128,000 | 21,000 | 30,000 | 21,500 | ||||||||||||
Revised outlook (B) |
131,500 | 21,100 | 36,500 | 27,800 | ||||||||||||
Change (B-A) |
3,500 | 100 | 6,500 | 6,300 | ||||||||||||
Percentage revision |
2.7 | % | 0.5 | % | 21.7 | % | 29.3 | % | ||||||||
Actual results for the previous year
ended March 31, 2007 |
125,493 | 19,837 | 32,267 | 21,863 | ||||||||||||
(Note) Net income per share for the fiscal year is projected to be 193.36 yen.
| 3. | Reasons for Revision of the Outlook |
| Despite spreading repercussions from the US sub-prime loan problem, which will have an impact on economies worldwide, the forecast for consolidated results for the year ending March 2008 takes into consideration Makita’s strong performance up until this third quarter. | ||
| As for non-consolidated results for the year ending March 2008, performance has been sound, particularly for exports, and the outlook below is based on the assumption, among other factors, of an increase in dividends by our subsidiary in China during this third quarter. | ||
| The above forecast for the final quarter is based on the assumption of exchange rates of 106 yen to US$1 and 158 yen to 1 Euro. And, the forecast for the year ending is based on the assumption of exchange rates of 114 yen to US$1 and 161 yen to 1 Euro. (outlook announced previously: 116 yen to US$1 and 161 yen to 1 Euro). |
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.
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.
| English Translation of press release originally issued in Japanese language | 1 |