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, 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: July 31, 2009

Makita Corporation

Consolidated Financial Results
for the three months
ended June 30, 2009
(U.S. GAAP Financial Information)

(English translation of “KESSAN TANSHIN”

originally issued in Japanese)

CONSOLIDATED FINANCIAL RESULTS
FOR THE THREE MONTHS ENDED JUNE 30, 2009

July 31, 2009

Makita Corporation

Stock code: 6586

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

Masahiko Goto, President & CEO

1. Operating results of the three months ended June 30, 2009 (From April 1, 2009 to June 30, 2009)
(1) CONSOLIDATED OPERATING RESULTS

	Yen (millions)
		For the three months ended								For the three months ended
		June 30, 2008								June 30, 2009
							%								%
Net sales			84,636				5.0				55,395				(34.5	)
Operating income			17,091				14.0				6,639				(61.2	)
Income before income taxes			16,849				8.5				8,218				(51.2	)
Net income attributable to Makita Corporation			11,781				4.8				5,287				(55.1	)
Earning per share (Basic)	Yen
Net income attributable to
Makita Corporation common shareholders			82.81								38.38

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.
3.		Certain reclassifications have been made to the previous years’ consolidated financial statements to conform with the presentation used for the year ended June 30, 2009. The meaning of “Net income attributable to Makita Corporation” is the same as the former “Net income”.

(2) CONSOLIDATED FINANCIAL POSITION

		Yen (millions)
		As of March 31, 2009												As of June 30, 2009
Total assets			336,644												334,730
Shareholders’ equity			283,485												286,834
Shareholders’ equity ratio to total assets (%)			84.2%												85.7%
		Yen
Shareholders’ equity per share			2,057.76												2,082.09

Note: The meaning of “Shareholders’ equity” is the same as the “Total Makita Corporation shareholders’ equity”.

2. Dividend Information

Yen

For the year ended

For the year ending

March 31, 2009

March 31, 2010

(forecast)

Cash dividend per share:

Interim

30.00

15.00

Year-end

50.00

(Note)

Total

80.00

(Note)

Notes:

1.		The forecast for cash dividend announced on April 28, 2009 has not been revised.
2.		While the Company has set forth under the Articles of Corporation of the Company that the record date for the payment of dividend shall be the last day of a relevant period, at the present time, the projected amount of dividends as of the said record date has not yet been determined. For further details, refer to “Explanation regarding proper use of business forecasts, and other significant matters” on page 2.

			1
English translation of “KESSAN TANSHIN” originally issued in Japanese

3. Consolidated Financial Forecast for the year ending March 31, 2010 (From April 1, 2009 to March 31, 2010)

		Yen (millions)
		For the six months ending								For the year ending
		September 30, 2009								March 31, 2010
								%								%
Net sales			113,500				(35.3	)			230,000				(21.8	)
Operating income			8,200				(77.3	)			18,000				(64.1	)
Income before income taxes			7,700				(77.7	)			17,000				(61.7	)
Net income attributable to Makita Corporation			5,400				(78.3	)			12,000				(63.9	)
Earning per share (Basic)		Yen
Net income attributable to Makita Corporation common shareholders			39.20								87.11

Notes:

	1.		The consolidated financial forecast for the year ending March 31, 2010 has not been revised.
	2.		The meaning of “Net income attributable to Makita Corporation” is the same as the former “Net income”.

4. Other

(1)		Changes in important subsidiaries during the period (Changes in specific subsidiaries accompanied by changes in scope of consolidation): None
(2)		Adoption of simplified accounting methods and accounting methods that are specific to the preparation of quarterly consolidated financial statements:
		Note: Refer to [Qualitative Information and Financial Statements] Section 4 “Other” on page 4.
(3)		Changes in principle, procedure and representation of the accounting policies concerning quarterly consolidated financial statements preparation:
		Note: Refer to [Qualitative Information and Financial Statements] Section 4 “Other” on page 4.
(4)		Number of shares outstanding (common stock)

1. Number of shares issued (including treasury stock):		As of June 30, 2009:			140,008,760
		As of March 31, 2009:			140,008,760
2. Number of treasury stock:		As of June 30, 2009:			2,245,993
		As of March 31, 2009:			2,244,755
3. Average number of shares outstanding:		For the three months ended			137,763,434
		June 30, 2009:
		For the three months ended			142,272,994
		June 30, 2008:

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

1.		The consolidated financial forecast for the year ending March 31, 2010 has not been revised. Regarding the assumptions for the forecasts and other matters, refer to [Qualitative Information and Financial Statements] Section 3 “Qualitative information on consolidated financial forecast” on page 3.
		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 factors above and other, actual results may vary from the forecasts provided above.
2.		Makita’s basic policy on the distribution of profits is to maintain a consolidated dividend payout ratio of 30% or greater, with a lower limit on annual cash dividends of 18 yen per share. However, in the event special circumstances arise, computation of the amount of dividends will be based on consolidated net income attributable to Makita Corporation after certain adjustments.
		The Board of Directors plans to meet in April 2010 for a report on earnings for the year ending March 31, 2010. At the time, in accordance with the basic policy regarding profit distribution mentioned above, the Board of Directors plans to propose a dividend equivalent to at least 30% of net income attributable to Makita Corporation. The Board of Directors will submit this proposal to the General Meeting of Shareholders scheduled for June 2010.
		The consolidated dividend payout ratio is calculated as annual dividends per share divided by consolidated net income attributable to Makita Corporation per share (after adjustments for special circumstances) and multiplied by 100.

			2
English translation of “KESSAN TANSHIN” originally issued in Japanese

[Qualitative Information and Financial Statements]

1. Qualitative Information on Consolidated Operating Results

   During the three months (the “period”) ended June 30, 2009, global investment in construction and housing shrank due to the simultaneous global recession that has continued since the last fall. The business environment for Makita has remained severe.

   Under such circumstances, net sales of Makita for the period decreased by 34.5% to 55,395 million yen from the same period of the previous year, mainly due to decrease in demand and the unfavorable impact of the stronger yen against other currencies. Incomes were affected by the operating rate of our production site declined because production volume was reduced in response to the decrease in demand and in order to improve inventory level. As a result, the ratio of cost of sales increased. Our selling, general, administrative and other expenses decreased by only 17.2% compared with the same period of the previous year despite our group-wide cost reduction efforts. As a result, operating income decreased by 61.2% to 6,639 million yen (operating income ratio: 12.0%). Income before income taxes decreased by 51.2% from the same period of the previous year to 8,218 million yen (income before income taxes ratio: 14.8%). Net income attributable to Makita Corporation decreased by 55.1% to 5,287 million yen (net income attributable to Makita Corporation ratio: 9.5%).

   Sales results by region are as follows:

   Net sales in Japan decreased by 13.5% from the same period of the previous year to 9,903 million yen, affected by continuing weak demand.

   In Europe, net sales decreased by 40.5% to 24,280 million yen. Construction demand declined in Western Europe. Economic conditions in Eastern Europe have deteriorated, and sales revenues in Russia have dropped sharply, due to the impact of the financial crisis.

   Net sales in North America decreased by 32.7% to 7,700 million yen, affected by continuing stagnation in the housing market.

   Net sales in Asia decreased by 40.7% to 4,175 million yen, due to weak sales in the export industry and other economic stagnation.

   Net sales in Central and South America decreased by 34.7% to 3,241 million yen. Sales in Middle East and Africa decreased by 36.2% to 3,080 million yen. Sales in Oceania decreased by 26.3% to 3,016 million yen.

2. Qualitative Information on Consolidated Financial Position

   (Analysis on assets, liabilities and shareholders’ equity)

   The total assets as of June 30, 2009 decreased by 1,914 million yen to 334,730 million yen, compared with that as of March 31, 2009. This decrease was mainly due to the sales of marketable securities for dividend payments and to the decrease in inventories resulting from production volume adjustment.

   The total liabilities as of June 30, 2009 decreased by 5,471 million yen to 45,427 million yen, compared with that as of March 31, 2009. The major cause of this decrease was the decline in trade notes and accounts payable and accrued payroll.

   Total equity as of June 30, 2009 increased by 3,557 million yen to 289,303 million yen, compared with that as of March 31, 2009. This increase was mainly attributable to the decline in accumulated other comprehensive loss due to the yen’s weakness against other currencies, as compared with that as of March 31, 2009.

3. Qualitative Information on Consolidated Financial Forecast

   Since the global economic conditions and the business environment for the Makita Group are quite uncertain and unpredictable, no modification is made to the forecasts (originally announced on April 28, 2009) for consolidated operating results for the six months ending September 30, 2009 and for the full year ending March 31, 2010.

			3
English translation of “KESSAN TANSHIN” originally issued in Japanese

4. Other

(1)		Changes in important subsidiaries during the period (Changes in specific subsidiaries accompanied by changes in scope of consolidation): 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 principle, procedure and representation of the accounting policies concerning quarterly consolidated financial statements preparation:
		Starting with this fiscal year, the Company has adopted Statement of Financial Accounting Standards (“SFAS”) No.160,“Noncontrolling Interests in Consolidated Financial Statements, an amendment of ARB No.51”. This Statement establishes new accounting and reporting standards for the noncontrolling interest in a subsidiary and for the deconsolidation of a subsidiary. Specifically, this statement requires the recognition of noncontrolling interests (minority interests) as equity in the consolidated financial statements. The amount of net income attributable to noncontrolling interests will be included in consolidated net income on the face of the consolidated income statement.
		This statement also establishes disclosure requirements that clearly identify and distinguish between the interests of the parent and the interests of the noncontrolling owners. The adoption did not give rise to any material effect on the Company’s consolidated results of operations and financial condition. These financial statements presentation requirements have been adopted retrospectively and previous year amounts in the consolidated financial statements have been reclassified or adjusted to conform to SFAS No.160.

			4
English translation of “KESSAN TANSHIN” originally issued in Japanese

5. Consolidated Financial Statements

(1) Consolidated Balance Sheets

		Yen (millions)
		As of March 31, 2009								As of June 30, 2009
		Composition ratio								Composition ratio
ASSETS
CURRENT ASSETS:
Cash and cash equivalents			34,215								40,245
Time deposits			2,623								3,682
Marketable securities			29,470								23,860
Trade receivables-
Notes			2,611								2,582
Accounts			43,078								42,177
Less- Allowance for doubtful receivables			(1,129	)							(1,231	)
Inventories			111,002								107,032
Deferred income taxes			7,264								6,378
Prepaid expenses and other current assets			11,269								10,866
Total current assets			240,403				71.4	%			235,591				70.4	%
PROPERTY, PLANT AND EQUIPMENT, at cost:
Land			18,173								18,589
Buildings and improvements			65,223								68,385
Machinery and equipment			74,458								75,480
Construction in progress			4,516								3,617
			162,370								166,071
Less- Accumulated depreciation			(89,674	)							(91,599	)
Total net property, plant and equipment			72,696				21.6	%			74,472				22.2	%
INVESTMENTS AND OTHER ASSETS:
Investment securities			11,290								13,358
Goodwill			1,987								1,983
Other intangible assets, net			2,280								2,213
Deferred income taxes			5,050								4,199
Other assets			2,938								2,914
Total investments and other assets			23,545				7.0	%			24,667				7.4	%
Total assets			336,644				100.0	%			334,730				100.0	%

			5
English translation of “KESSAN TANSHIN” originally issued in Japanese

		Yen (millions)
		As of March 31, 2009								As of June 30, 2009
		Composition ratio								Composition ratio
LIABILITIES
CURRENT LIABILITIES:
Short-term borrowings			239								481
Trade notes and accounts payable			14,820								12,231
Other payables			4,397								4,332
Accrued expenses			5,642								4,865
Accrued payroll			7,361								6,122
Income taxes payable			2,772								2,046
Deferred income taxes			50								52
Other current liabilities			5,536								5,651
Total current liabilities			40,817				12.1	%			35,780				10.7	%
LONG-TERM LIABILITIES:
Long-term indebtedness			818								797
Accrued retirement and termination benefits			7,116								6,749
Deferred income taxes			548								556
Other liabilities			1,599								1,545
Total long-term liabilities			10,081				3.0	%			9,647				2.9	%
Total liabilities			50,898				15.1	%			45,427				13.6	%
EQUITY
MAKITA CORPORATION SHAREHOLDERS’ EQUITY:
Common stock			23,805								23,805
Additional paid-in capital			45,420								45,420
Legal reserve			5,669								5,669
Retained earnings			257,487								255,886
Accumulated other comprehensive income (loss)			(42,461	)							(37,508	)
Treasury stock, at cost			(6,435	)							(6,438	)
Total Makita Corporation shareholders’ equity			283,485				84.2	%			286,834				85.7	%
NONCONTROLLING INTEREST			2,261				0.7	%			2,469				0.7	%
Total equity			285,746				84.9	%			289,303				86.4	%
Total liabilities and equity			336,644				100.0	%			334,730				100.0	%

		As of March 31, 2009				As of June 30, 2009
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)			137,764,005				137,762,767
Number of treasury stock			2,244,755				2,245,993

			6
English translation of “KESSAN TANSHIN” originally issued in Japanese

(2) Consolidated Statements of Income

		Yen (millions)
		For the three months								For the three months
		ended June 30, 2008								ended June 30, 2009
		Composition ratio								Composition ratio
NET SALES			84,636				100.0	%			55,395				100.0	%
Cost of sales			49,404				58.4	%			33,735				60.9	%
GROSS PROFIT			35,232				41.6	%			21,660				39.1	%
Selling, general, administrative and other expenses			18,141				21.4	%			15,021				27.1	%
OPERATING INCOME			17,091				20.2	%			6,639				12.0	%
OTHER INCOME (EXPENSES):
Interest and dividend income			558								210
Interest expense			(77	)							(27	)
Exchange gains (losses) on foreign currency transactions, net			(359	)							1,251
Realized gains (losses) on securities, net			(365	)							145
Other, net			1								-
Total			(242	)			(0.3	)%			1,579				2.8	%
INCOME BEFORE INCOME TAXES			16,849				19.9	%			8,218				14.8	%
PROVISION FOR INCOME TAXES:
Current			3,131								2,269
Deferred			1,765								556
Total			4,896				5.8	%			2,825				5.1	%
NET INCOME			11,953				14.1	%			5,393				9.7	%
Less: Net income attributable to the noncontrolling interest			(172	)			(0.2	)%			(106	)			(0.2	)%
NET INCOME ATTRIBUTABLE TO MAKITA CORPORATION			11,781				13.9	%			5,287				9.5	%

(3) Statement of Consolidated Comprehensive Income

		Yen (millions)
		For the three months				For the three months
		ended June 30, 2008				ended June 30, 2009
Net income			11,953				5,393
Other comprehensive income:
Foreign currency translation adjustment			10,328				3,006
Unrealized holding gains on available-for-sale securities			1,515				1,951
Pension liability adjustment			1				(4	)
Total comprehensive income, net of tax			23,797				10,346
Comprehensive income attributable to the noncontrolling interest			(334	)			(208	)
Comprehensive income attributable to Makita Corporation			23,463				10,138

			7
English translation of “KESSAN TANSHIN” originally issued in Japanese

(4) Condensed Consolidated Statements of Cash Flows

		Yen (millions)
		For the three months				For the three months
		ended June 30, 2008				ended June 30, 2009
Net cash provided by operating activities			2,544				10,346
Net cash provided by investing activities			12,764				3,184
Net cash used in financing activities			(20,280	)			(6,696	)
Effect of exchange rate changes on cash and cash equivalents			1,446				(804	)
Net change in cash and cash equivalents			(3,526	)			6,030
Cash and cash equivalents, beginning of period			46,306				34,215
Cash and cash equivalents, end of period			42,780				40,245

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

(6) Condensed Operating Segment Information

		Yen (millions)
		For the three months ended June 30, 2008
																										Corporate
										North																and elimi-				Consoli-
		Japan				Europe				America				Asia				Other				Total				nations				dated
Sales:
(1) External customers			17,175				40,730				11,604				3,283				11,844				84,636				-				84,636
(2) Inter-segment			16,991				1,666				1,404				26,478				27				46,566				(46,566)				-
Total			34,166				42,396				13,008				29,761				11,871				131,202				(46,566)				84,636
Operating expenses			30,064				35,414				12,787				25,563				9,896				113,724				(46,179)				67,545
Operating income			4,102				6,982				221				4,198				1,975				17,478				(387)				17,091

		Yen (millions)
		For the three months ended June 30, 2009
																										Corporate
										North																and elimi-				Consoli-
		Japan				Europe				America				Asia				Other				Total				nations				dated
Sales:
(1) External customers			12,766				24,377				7,667				2,292				8,293				55,395				-				55,395
(2) Inter-segment			6,390				450				450				10,924				10				18,224				(18,224)				-
Total			19,156				24,827				8,117				13,216				8,303				73,619				(18,224)				55,395
Operating expenses			20,287				22,629				8,277				11,392				7,660				70,245				(21,489)				48,756
Operating income			(1,131)				2,198				(160)				1,824				643				3,374				3,265				6,639

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

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English translation of “KESSAN TANSHIN” originally issued in Japanese

SUPPORT DOCUMENTATION (CONSOLIDATED)

1. Consolidated Financial Results and Forecast

		Yen (millions)
		For the three months								For the three months
		ended June 30, 2008								ended June 30, 2009
							(	%)		(%)
Net sales			84,636				5.0				55,395				(34.5	)
Domestic			11,447				(5.3	)			9,903				(13.5	)
Overseas			73,189				6.8				45,492				(37.8	)
Operating income			17,091				14.0				6,639				(61.2	)
Income before income taxes			16,849				8.5				8,218				(51.2	)
Net income attributable to Makita Corporation			11,781				4.8				5,287				(55.1	)
Earning per share (Basic)
Net income attributable to
Makita Corporation common shareholders (Yen)		82.81								38.38
Employees		10,515								10,112

		Yen (millions)
										For the six months								For the year ending
		For the year ended								ending September 30,								March 31, 2010
		March 31, 2009								2009 (Forecast)								(Forecast)
		(%)								(%)								(%)
Net sales			294,034				(14.2	)			113,500				(35.3	)			230,000				(21.8	)
Domestic			46,222				(11.4	)			20,500				(15.9	)			41,500				(10.2	)
Overseas			247,812				(14.7	)			93,000				(38.5	)			188,500				(23.9	)
Operating income			50,075				(25.3	)			8,200				(77.3	)			18,000				(64.1	)
Income before income taxes			44,443				(32.9	)			7,700				(77.7	)			17,000				(61.7	)
Net income attributable to
Makita Corporation			33,286				(27.7	)			5,400				(78.3	)			12,000				(63.9	)
Earning per share (Basic)
Net income attributable to Makita Corporation
common shareholders (Yen)		236.88								39.20								87.11
Employees		10,412								-								-

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.		Certain reclassifications have been made to the previous years’ consolidated financial statements to conform with the presentation used for the year ended June 30, 2009. The meaning of “Net income attributable to Makita Corporation” is the same as the former “Net income”.
	3.		Please refer to page 3 for the qualitative information on consolidated financial forecast for the six months and fiscal year 2010.

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English translation of “KESSAN TANSHIN” originally issued in Japanese

2. Consolidated Net Sales by Geographic Area

		Yen (millions)
		For the three months								For the three months								For the year ended
		ended June 30, 2008								ended June 30, 2009								March 31, 2009
		(%)								(%)								(%)
Japan			11,447				(5.3	)			9,903				(13.5	)			46,222				(11.4	)
Europe			40,835				8.5				24,280				(40.5	)			137,113				(14.5	)
North America			11,440				(16.3	)			7,700				(32.7	)			42,289				(25.0	)
Asia			7,036				29.8				4,175				(40.7	)			21,995				(2.8	)
Other regions			13,878				17.6				9,337				(32.7	)			46,415				(8.9	)
Central and South America			4,960				29.6				3,241				(34.7	)			16,738				(0.2	)
The Middle East and Africa			4,826				19.5				3,080				(36.2	)			16,466				(11.9	)
Oceania			4,092				4.0				3,016				(26.3	)			13,211				(14.9	)
Total			84,636				5.0				55,395				(34.5	)			294,034				(14.2	)