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 October, 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: October 31, 2012

LOGO

 

For immediate release

October 31, 2012

 

Company name:

    Makita Corporation

Representative:

    Masahiko Goto, President, Representative Director & CEO

Stock ticker code:

    6586

Revision of Forecast for Performance

Based on the recent trends of business performances, the forecast consolidated business results for the year ending March 31, 2013, which were announced on July 31, 2012, were revised as stated below.

 

1. Revised Forecast for Consolidated Performance for the year ending March 31, 2013 (from April 1, 2012 to March 31, 2013)
      Yen (millions)      Yen  
     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)

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

Revised forecast (B)

      288,000         41,500         40,200         27,400         201.84   

Change (B-A)

      8,000         3,500         5,200         3,400         —   

Percentage revision

      2.9%         9.2%         14.9%         14.2%         —   
Actual results for the previous year ended March 31, 2012      295,711         48,516         46,963         32,497         236.78   

2. Reasons for Revision of Forecast

We expect the global economy will remain lackluster and business conditions continue to be tough in the third quarter and onwards. We, however, revise our consolidated financial forecast for the full year since our performance for the first six-month period of the current fiscal year was better than our previous forecast announced on July 31, 2012.

The above forecast is based on the assumption of exchange rates of 77 yen to the U.S. dollar and 98 yen to the euro for the six months period ending March 31, 2013.

The above forecast is based on the assumption of exchange rates of 78 yen to the U.S. dollar and 99 yen to the euro for the year ending March 31, 2013.

(Reference): Our previous exchange rates that we announced on July 31, 2012 were 79 yen to the U.S. dollar and 95 yen to the euro for the year ending March 31, 2013.

 

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.

 

 

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English Translation of press release originally issued in Japanese