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 November, 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: November 27, 2009

Makita Corporation

The 98th Interim Business Report
Ended September 30, 2009
(U.S. GAAP Financial Information)

(English translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU”
interim business report originally issued in Japanese
for the benefit and information of shareholders
of the Company’s common stock)

Message from the Managements

     We are pleased to present the outline of operation and financial results for Makita’s 98th interim period, ended September 30, 2009.

n Consolidated Operating Result as Interim Period

     During the six months (“the period”) ended September 30, 2009, the housing markets slowed down in Western Europe. Capital expenditures and individual consumption decreased due to the shrinkage of economic activity in Eastern Europe and Russia. In North America, stimulus packages and other measures resulted in improvement in individual consumption and corporate production. Nevertheless, economic conditions remained severe with the recovery of business confidence being hindered by a sense of excess capacity among corporations. In Asia, economies showed a moderate recovery trend: the Chinese economy recovered and exports and individual consumption in Southeast Asia improved. In Japan, the government’s stimulus package spurred production in some industries, but general economic conditions remained severe as evidenced from a high unemployment rate and shrinking public investment.

     In the power tools market, some emerging countries showed signs of recovery due to active public investment and resource development. However, developed countries such as Japan, Europe and the United States continued to suffer a slump in demand with housing starts remaining at low levels and competition becoming even fiercer.

     Under these circumstances, Makita directed our development efforts toward introducing smaller and lighter tools. At the same time, we strove to enhance our existing products. For example, we incorporated our proprietary low-vibration technology, which had originally been used for large drilling tools for stone and very well received, into our medium and small drilling tools. In production side, we curtailed production volume at each factory in order to improve inventory level. We also exerted efforts toward establishing a global production structure of the group in order to quickly and flexibly respond to rapid changes in demand. In sales side, Makita strove to expand sales of our gardening equipments, such as ones incorporating the environmentally friendly compact four-stroke engine. We also stepped up efforts to maintain and improve the quality of our sales and services based on direct communication with customers, which remains one of our group’s fortes.

n Consolidated Net Sales decreased due to the Global Recession and the Stronger Yen against Other Currencies

     In our consolidated financial results for the period, consolidated net sales decreased by 32.4% to 118,681 million yen from the same period of the previous year, mainly due to the decrease in demand for power tools in the face of the worldwide slowdown in economic growth and the unfavorable impact of the stronger yen against other currencies. Incomes were affected by the decline in the rate of operation of our production site. This decline resulted from the production volume reduction carried out 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 18.9% compared with the same period of the previous year despite our group-wide cost reduction efforts. As a result, operating income decreased by 58.8% to 14,866 million yen (operating income ratio: 12.5%). Income before income taxes decreased by 50.2% from the same period of the previous year to 17,271 million yen (income before income taxes ratio: 14.6%). Net income attributable to Makita Corporation decreased by 57.3% to 10,622 million yen (net income attributable to Makita Corporation ratio: 9.0%).

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English Translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU” originally issued in Japanese

     Net sales by geographic area were as follows:

     Net sales in Japan decreased by 14.6% from the same period of the previous year to 20,831 million yen, affected by the housing market remaining sluggish. Sales in gardening equipments were robust but insufficient to compensate for the decreased demand for power tools.

     In Europe, net sales decreased by 37.9% from the same period of the previous year to 51,652 million yen. Construction demand declined in Western Europe. Demand for power tools also decreased due to the slowdown of the Russian economy and the financial recession in Eastern Europe.

     Net sales in North America decreased by 31.1% to 17,789 million yen. This decrease resulted mainly from the continuing weakness in inventory investment by retailers caused by the sluggish U.S. housing market and the financial recession.

     Net sales in Asia decreased by 34.5% from the same period of the previous year to 8,620 million yen. This decrease resulted from the continuing weakness in construction demand.

     Net sales in Central and South America and Oceania were sluggish mainly due to the appreciation of the yen against local currencies from the same period of the previous year, although demand on a local currency basis was robust in Brazil and Australia, the hubs of the regional economies. Net sales in Central and South America decreased by 30.1% from the same period of the previous year to 7,398 million yen. Net sales in Oceania decreased by 23.2% from the same period of the previous year to 6,533 million yen. Net Sales in the Middle East and Africa decreased by 41.2% to 5,858 million yen from the same period of the previous year, due to a decline in construction demand.

n Outlook for the year ending March 31, 2010 and Issue to be Addressed

     Regarding the future outlook, the competition in the power tools market is becoming harsher since the market has remained weak globally. Although some signs of modest recovery have been seen in Asia and emerging countries, the future of the global economy is still uncertain, and the movement in the foreign exchange market is unpredictable. It is expected that the business conditions for Makita will remain severe for the time being.

     Under these circumstances, Makita aims to establish high brand recognition and become a “Strong Company” capable of acquiring and maintaining the top market share as an international total supplier of power tools for professional use, pneumatic tools, gardening equipments and other tools in each international region. To achieve these objectives, we will put focus on maintaining and expanding our efforts to develop new products that guarantee great satisfaction to professional users, our global production structure realizing both high quality and cost competitiveness at the same time, and the best marketing and after-sale service structure of the power tools industry in Japan and in international regions.

     With the aim of promoting the development and expansion of engine-powered gardening equipments, Makita established Tokyo Technical Center in Tachikawa, Tokyo on October 1, 2009. The Center will conduct R&D for improving environmental performance, which is the major challenge facing the two-stroke engine.

n The Interim Cash Dividends of 15 Yen Per Share

     Makita’s basic policy on the distribution of profits is to maintain a dividend payout ratio of at least 30%, with a lower limit on annual cash dividends of 18 yen per share.

     For the interim period under review, Makita declared to pay a dividend of 15 yen per share, as announced in April 2009.

     Based on its dividend policy, Makita’s board of directors will decide on proposals for the dividend for the end of the fiscal year at their meeting to approve the financial statements after they are finalized near the end of April 2010. Their proposals will be presented for discussion and final approval at the Ordinary General Meeting of Shareholders.

     We look forward to the continuing support and cooperation of our shareholders.

		November 2009
		Masahiko Goto
		President, Representative Director &
		Chief Executive Officer

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English Translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU” originally issued in Japanese

Feature Section

n Tokyo Technical Center has been established

     On October 1, 2009, the Company established Tokyo Technical Center in Tachikawa, Tokyo aiming to strengthen the development function for and to increase product lines of engine-powered gardening equipments. In the field of the gardening equipments, the Company has expanded product lines of electric-powered or cordless tools. The Center will place emphasis on strengthening product lines of engine-powered tools by promoting mainly research, development and designing of environment-friendly two-stroke engines (with 40ml or less displacement) and chain saws.

n Makita has continued customer-oriented sales activities

     Makita has worked hard to develop new products that provide great satisfaction to professional users and established the best marketing and after-sale service structure in the industry so that customers can use our products without worry. During the first six months ended September 30, 2009, the business conditions for Makita were very severe, affected by global recession and appreciation of the yen value against other currencies.

     Under such circumstances, Makita has continued customer-oriented sales activities. As part of these activities, we have relocated our Nagoya Office, one of core sales branch in Japan, to a newly-constructed building in Nagoya. As for international sales offices, our sales subsidiary in France constructed a new office building and we established a sales office in Norway.

     Through these activities, the sales and after-sale service structure of Makita has been strengthened. We believe that our managerial efforts during the current severe business conditions will become a foundation that supports our growth once the economy begins to recover. We will further continue our diligent efforts to grow into a stronger company and to maintain the confidence from our customers.

n Makita product in the permanent exhibition of the Memorial Museum of Cosmonautics in Russia

     In Moscow, the Capital of Russia, Cordless Driver Drill 6213D is exhibited in the permanent exhibition area of the Memorial Museum of Cosmonautics. The product is exhibited in the “Tools Drawer equipped in the Spaceship” exhibition area. In the caption plate titled “Tools equipped in the spaceship,” it is explained that the tools were mainly used in the space station “Mir” and other spaceships.

     We will continue diligent efforts to deliver our products that receive confidence from professional users around the world and further promote diffusion of Makita brands.

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English Translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU” originally issued in Japanese

Consolidated Financial Highlights

		Yen (millions)
		For the six				For the six				For the six
		months				months				months
		ended				ended				ended				Rate of				For the year
		September				September				September				change				ended March
		30, 2007				30, 2008				30, 2009				(%)				31, 2009
Net Sales			169,537				175,558				118,681				(32.4	)			294,034
Operating Income			33,899				36,047				14,866				(58.8	)			50,075
Operating Income to Net Sales Ratio (%)			20.0	%			20.5	%			12.5	%			—				17.0	%
Income before Income Taxes			34,629				34,710				17,271				(50.2	)			44,443
Net Income Attributable to Makita Corporation			23,596				24,851				10,622				(57.3	)			33,286
Net Income Attributable to Makita Corporation to Net Sales Ratio (%)			13.9	%			14.2	%			9.0	%			—				11.3	%
		As of				As of				As of				Rate of				As of
		September				September				September				change				March 31,
		30, 2007				30, 2008				30, 2009				(%)				2009
Total Makita Corporation Shareholders’ Equity			320,144				316,519				285,830				(9.7	)			283,485
Total Assets			393,148				382,000				335,361				(12.2	)			336,644
Shareholders’ Equity Ratio to Total Assets (%)			81.4	%			82.9	%			85.2	%			—				84.2	%
		For the six				For the six				For the six
		months				months				months
		ended				ended				ended				Rate of				For the year
		September				September				September				change				ended March
		30, 2007				30, 2008				30, 2009				(%)				31, 2009
Capital Expenditures			7,161				9,827				6,702				(31.8	)			17,046
Depreciation and Amortization			3,879				4,426				4,071				(8.0	)			8,887
Research and Development Cost			2,826				3,493				3,324				(4.8	)			6,883
Employees			10,093				10,799				10,131				(6.2	)			10,412
Average Number of Shares Outstanding			143,725,286				141,521,162				137,762,814				—				140,518,582
Earning Per Share (Basic) Net Income Attributable to Makita Corporation Common Shareholders (Yen)			164.2				175.6				77.1				(56.1	)			236.9
Cash Dividends Per Share (Yen)			30.0				30.0				15.0				—				80.0

	Notes:
	1.		In principle, amounts of less than 1 million yen have been rounded.
	2.		Certain reclassifications have been made to the previous years’ consolidated financial statements to conform with the presentation used for the six months ended September 30, 2009. The meaning of “Net income attributable to Makita Corporation” is the same as the former “Net income”.

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English Translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU” originally issued in Japanese

Consolidated Net Sales by Geographic Area

		Yen (billions)
		For the six months ended
		September				March 31,				September				March 31,				September
		30, 2007				2008				30, 2008				2009				30, 2009
Japan			25.6				26.6				24.4				21.8				20.8
Europe			78.9				81.5				83.1				54.0				51.7
North America			28.9				27.5				25.8				16.5				17.8
Asia			11.0				11.6				13.2				8.8				8.6
Other Regions			25.1				25.9				29.1				17.4				19.8
Total			169.5				173.1				175.6				118.5				118.7

Note:		The table above sets forth Makita’s consolidated net sales by geographic area based on customer location for the periods presented.

Profit Ratio

		%
		For the six months ended
		September				March 31,				September				March 31,				September
		30, 2007				2008				30, 2008				2009				30, 2009
Operating Income to Net Sales Ratio			20.0				19.1				20.5				11.8				12.5
Net Income Attributable to Makita Corporation to Net Sales Ratio			13.9				13.0				14.2				7.1				9.0

Production by Geographic Area

		Million units
		For the six months ended
		September				March 31,				September				March 31,				September
		30, 2007				2008				30, 2008				2009				30, 2009
Japan			2.43				2.49				2.34				1.54				0.98
Europe			1.02				1.33				1.25				0.95				0.52
North America			0.69				0.78				0.71				0.56				0.29
China			5.97				6.59				6.98				5.09				3.80
Central and South America			0.26				0.26				0.32				0.24				0.23
Total			10.37				11.45				11.60				8.38				5.82

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English Translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU” originally issued in Japanese

Shareholders’ Equity per Share

		Yen
		As of
		September				March 31,				September				March 31,				September
		30, 2007				2008				30, 2008				2009				30, 2009
Shareholders’ Equity per Share			2,227				2,201				2,249				2,058				2,075

Earning Per Share (Basic) Net Income Attributable to

Makita Corporation Common Shareholders

		Yen
		For the year				For the year				For the year				For the year				For the year
		ended March				ended March				ended March				ended March				ending March
		31, 2006				31, 2007				31, 2008				31, 2009				31, 2010
Earning Per Share (Basic) Net Income Attributable to Makita Corporation Common Shareholders for the Interim Period			179.5				107.1				164.2				175.6				77.1
Earning Per Share (Basic) Net Income Attributable to Makita Corporation Common Shareholders for the Year			281.1				257.3				320.3				236.9				—

Cash Dividend per Share

		Yen
		For the year				For the year				For the year				For the year				For the year
		ended March				ended March				ended March				ended March				ending March
		31, 2006				31, 2007				31, 2008				31, 2009				31, 2010
Cash dividend per share for the Interim Period			19				19				30				30				15
Cash dividend per Share for the Year			57				74				97				80			Undecided

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English Translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU” originally issued in Japanese

Condensed Consolidated Balance Sheets

		Yen(millions)
						As of
		As of				September 30,				Increase
		March 31, 2009				2009				(Decrease)
ASSETS
CURRENT ASSETS:
Cash and Cash Equivalents			34,215				41,948				7,733
Time Deposit			2,623				5,351				2,728
Marketable Securities			29,470				34,101				4,631
Notes Receivable in Trade			2,611				2,420				(191	)
Accounts Receivable in Trade			43,078				43,825				747
Less-Allowance for Doubtful Receivables			(1,129	)			(1,097	)			32
Inventories			111,002				95,299				(15,703	)
Deferred Income Taxes			7,264				6,226				(1,038	)
Prepaid Expenses and Other Current Assets			11,269				8,574				(2,695	)
Total Current Assets			240,403				236,647				(3,756	)
PROPERTY, PLANT AND EQUIPMENT:
Land			18,173				18,433				260
Buildings and Improvements			65,223				67,111				1,888
Machinery and Equipment			74,458				74,480				22
Construction in Progress			4,516				4,763				247
Less-Accumulated Depreciation			(89,674	)			(91,130	)			(1,456	)
Total Net Property, Plant and Equipment			72,696				73,657				961
INVESTMENTS AND OTHER ASSETS:
Investment Securities			11,290				12,783				1,493
Deferred Income Taxes			5,050				3,763				(1,287	)
Other Assets			7,205				8,511				1,306
Total Investments and Other Assets			23,545				25,057				1,512
TOTAL ASSETS			336,644				335,361				(1,283	)

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English Translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU” originally issued in Japanese

Condensed Consolidated Balance Sheets

Yen (millions)
		Yen (millions)
		As of				As of September				Increase
		March 31, 2009				30, 2009				(Decrease)
LIABILITIES
CURRENT LIABILITIES:
Short-term Borrowings			239				628				389
Trade Notes and Accounts Payable			14,820				12,519				(2,301	)
Accrued Payroll			7,361				7,408				47
Accrued Expenses and Others			15,575				14,321				(1,254	)
Income Taxes Payable			2,772				1,621				(1,151	)
Deferred Income Taxes			50				82				32
Total Current Liabilities			40,817				36,579				(4,238	)
LONG-TERM LIABILITIES:
Long-term Indebtedness			818				566				(252	)
Accrued Retirement and Termination Benefits			7,116				6,294				(822	)
Deferred Income Taxes			548				853				305
Other Liabilities			1,599				3,000				1,401
Total Long-term Liabilities			10,081				10,713				632
Total Liabilities			50,898				47,292				(3,606	)
EQUITY
MAKITA CORPORATION SHAREHOLDERS’ EQUITY:
Common Stock			23,805				23,805				—
Additional Paid-in Capital			45,420				45,420				—
Legal Reserve and Retained Earnings			263,156				266,890				3,734
Accumulated Other Comprehensive Income (Loss)			(42,461	)			(43,845	)			(1,384	)
Treasury Stock, at cost			(6,435	)			(6,440	)			(5	)
Total Makita Corporation Shareholders’ Equity			283,485				285,830				2,345
NONCONTROLING INTEREST			2,261				2,239				(22	)
Total Equity			285,746				288,069				2,323
TOTAL LIABILITIES AND EQUITY			336,644				335,361				(1,283	)

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English Translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU” originally issued in Japanese

Consolidated Statements of Income

		Yen (millions)
		For the six				For the six
		months ended				months ended
		September 30,				September 30,				Increase
		2008				2009				(Decrease)
										(Amount)				(%)
NET SALES			175,558				118,681				(56,877	)			(32.4	)
Cost of Sales			100,824				72,454				(28,370	)			(28.1	)
GROSS PROFIT			74,734				46,227				(28,507	)			(38.1	)
Selling, General, Administrative and other Expenses			38,687				31,361				(7,326	)			(18.9	)
OPERATING INCOME			36,047				14,866				(21,181	)			(58.8	)
OTHER INCOME (EXPENSES):
Interest and Dividend Income			954				356				(598	)			(62.7	)
Interest Expense			(169	)			(48	)			121				(71.6	)
Exchange Gains (Losses) on Foreign Currency Transactions, net			(1,462	)			1,946				3,408				—
Realized Gains (Losses) on Securities, net			(660	)			151				811				—
Total			(1,337	)			2,405				3,742				—
INCOME BEFORE INCOME TAXES			34,710				17,271				(17,439	)			(50.2	)
PROVISION FOR INCOME TAXES
Current			7,686				4,964				(2,722	)			(35.4	)
Deferred			1,916				1,544				(372	)			(19.4	)
Total			9,602				6,508				(3,094	)			(32.2	)
NET INCOME			25,108				10,763				(14,345	)			(57.1	)
Less: Net Income Attributable to the Noncontrolling Interest			(257	)			(141	)			116				—
NET INCOME ATTRIBUTABLE TO MAKITA CORPORATION			24,851				10,622				(14,229	)			(57.3	)

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English Translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU” originally issued in Japanese

Consolidated Statements of Cash Flows

		Yen (millions)
		For the six months				For the six months
		ended September 30,				ended September 30,
		2008				2009
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income Attributable to Makita Corporation			25,108				10,763
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and Amortization			4,426				4,071
Provision for Deferred Income Taxes			1,916				1,544
Realized Losses (Gains) on Securities, net			660				(151	)
Losses on Disposals or Sales of Property, Plant & Equipment			324				92
Changes in Assets and Liabilities:
Trade Receivable			(2,308	)			(200	)
Inventories			(10,498	)			14,841
Trade Notes and Accounts Payables and Accrued Expenses			(2,518	)			(2,886	)
Income Taxes Payable			(2,602	)			897
Accrued Retirement and Termination Benefits			(1,180	)			(639	)
Other, net			894				(18	)
Net Cash Provided by Operating Activities			14,222				28,314
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital Expenditures			(9,827	)			(6,702	)
Purchases of Available-for-sale Securities			(343	)			(4,341	)
Proceeds from Sales of Available-for-sale Securities			12,147				1,119
Proceeds from Maturities of Available-for-sale Securities			2,000				—
Proceeds from Maturities of Held-to-maturity Securities			300				200
Proceeds from Sales of Property, Plant and Equipment			145				273
Decrease (Increase) in Time Deposits			(1,176	)			(1,506	)
Other, net			(114	)			(19	)
Net Cash Provided by (Used in) Investing Activities			3,132				(10,976	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase (Decrease) in Short-term borrowings			(620	)			204
Purchase and Sales of Treasury stock			(11,947	)			(5	)
Cash Dividends Paid			(9,632	)			(6,888	)
Other, net			(312	)			(265	)
Net Cash Used in Financing Activities			(22,511	)			(6,954	)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS			1,529				(2,651	)
NET CHANGE IN CASH AND CASH EQUIVALENTS			(3,628	)			7,733
CASH AND CASH EQUIVALENTS, Beginning of Period			46,306				34,215
CASH AND CASH EQUIVALENTS, End of Period			42,678				41,948

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English Translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU” originally issued in Japanese

Operating Segment Information

For the six months ended September 30, 2008
		Yen (millions)
																										Corporate
										North																and elimi-				Consoli-
		Japan				Europe				America				Asia				Other				Total				nations				dated
Sales:
(1) External Customers			35,371				83,192				26,062				6,009				24,924				175,558				—				175,558
(2) Inter-Segment			33,454				2,792				2,809				51,597				79				90,731				(90,731	)			—
Total			68,825				85,984				28,871				57,606				25,003				266,289				(90,731	)			175,558
Operating Expenses			59,925				70,438				27,726				50,201				20,881				229,171				(89,660	)			139,511
Operating Income			8,900				15,546				1,145				7,405				4,122				37,118				(1,071	)			36,047
Identifiable Assets			249,134				135,537				42,479				56,936				37,335				521,421				(139,421	)			382,000

For the six months ended September 30, 2009
		Yen (millions)
																										Corporate
										North																and elimi-				Consoli-
		Japan				Europe				America				Asia				Other				Total				nations				dated
Sales:
(1) External Customers			26,695				51,977				17,681				4,341				17,987				118,681				—				118,681
(2) Inter-Segment			14,093				1,189				884				25,308				44				41,518				(41,518	)			—
Total			40,788				53,166				18,565				29,649				18,031				160,199				(41,518	)			118,681
Operating Expenses			42,567				47,224				18,380				25,592				16,752				150,515				(46,700	)			103,815
Operating Income			(1,779	)			5,942				185				4,057				1,279				9,684				5,182				14,866
Identifiable Assets			231,795				106,573				29,447				48,000				36,278				452,093				(116,732	)			335,361

Note: Segment information is determined by the location of the Company and its consolidated subsidiaries.

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English Translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU” originally issued in Japanese

Condition of Shareholders and Shares

(As of September 30, 2009)

Total Number of Shares Authorized		496,000,000 shares
Total Number of Shares Outstanding		140,008,760 shares (including 2,246,906 shares of treasury stock)
Number of Shareholders		15,576 (1,192 decrease compared with as of March 31, 2009)

10 Largest Shareholders

Number of Shares Held
		Number of Shares Held
Name of Shareholder		Units (thousand)				%
The Master Trust Bank of Japan, Ltd. (Trust account)			9,628				6.88
Japan Trustee Services Bank, Ltd. (Trust account)			8,497				6.07
The Bank of Tokyo-Mitsubishi UFJ, Ltd.			5,213				3.72
Nippon Life Insurance Company			4,013				2.87
The Bank of New York Mellon as Depositary Bank for DR Holders			3,950				2.82
Makita Cooperation Companies’ Investment Association			3,908				2.79
Maruwa Co.,Ltd.			3,669				2.62
Sumitomo Mitsui Banking Corporation			2,900				2.07
The Nomura Trust and Banking Co., Ltd (Trust account)			2,036				1.45
The Chase Manhattan Bank, N.A. London SECS Lending Omnibus Account			2,011				1.44
Total			45,825				32.73

Note			1.			Shares holding ratios above are calculated based on the total number of issued shares (including treasury stock) as of September 30, 2009.
			2.			The Bank of New York Mellon as Depositary Bank for DR Holders is the nominal holder of the shares of The Bank of New York Mellon, the trustee bank for the Company’s American Depositary Shares.
			3.			In addition to the above, the Company owns 2,247 thousand shares of treasury stock.

Distribution of Share-ownership

		Number of Shares Held
Class of Shareholder		Units(thousand)				%
Financial Institutions and Securities Firms			53,765				38.4
Japanese Individuals and Other			25,179				18.0
Foreign Investors			41,557				29.7
Other Japanese Business Corporations			17,261				12.3
Treasury Stock			2,247				1.6

		Number of Shareholders
Class of Shareholder		Units				%
Financial Institutions and Securities Firms			129				0.8
Japanese Individuals and Other			14,621				93.9
Foreign Investors			428				2.7
Other Japanese Business Corporations			397				2.6
Treasury Stock			1				0.0

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English Translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU” originally issued in Japanese

Price per Share and Volume of Shares Traded on The Tokyo Stock Exchange
		2009
		April				May				June				July				August				September
High (yen)			2,500				2,450				2,535				2,370				2,790				3,060
Low (yen)			2,125				2,080				2,095				1,912				2,425				2,635
Volume (thousand shares)			14,286				12,581				21,345				16,592				15,924				12,892

Note:		The highest price, lowest price, and total volume of shares traded on The Tokyo Stock Exchange for the six months ended September 30, 2009 were as follows:

The highest price per share:		3,060 yen marked on September 18, 2009
The lowest price per share:		1,912 yen marked on July 13, 2009
Total volume of shares traded:		93,620 thousand shares

Basic policy regarding profit distribution and to repurchases of its outstanding shares

     Makita’s basic policy on the distribution of profits was established in the fiscal year ended March 31, 2004 is to maintain a 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. With respect to repurchases of its outstanding shares, Makita aims to implement a flexible capital policy, augment the efficiency of its capital employment, and thereby boost shareholder profit. Also Makita continues to consider execution of own share repurchases in light of trends in stock prices.

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English Translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU” originally issued in Japanese

Corporate Data

(As of September 30, 2009)

Makita Corporation

3-11-8, Sumiyoshi-cho, Anjo, Aichi 446-8502, Japan
Phone: (0566) 98-1711
Website: http://www.makita.co.jp/global/

Date of founding		March 21, 1915
Date of incorporation		December 10, 1938
Paid-in Capital		24,206 million yen (non-consolidated)
Description of business		Production and sales of electric power tools, pneumatic tools, gardening and household products
Number of consolidated subsidiaries		47(Domestic 2, Overseas 45)
Plants		Two in Japan, seven outside of Japan (two in China, and one each in the United States, Brazil, the United Kingdom, Germany and Romania)
Employees		10,131 (consolidated) 2,926 (non-consolidated)

Board of Directors

President and Representative Director		Masahiko Goto
Director, Managing Corporate Officers		Yasuhiko Kanzaki		(In Charge of International Sales and General Manager of International Sales Headquarters: Europe, the Middle East and Africa Region)
		Tadayoshi Torii		(In Charge of Production and General Manager of Production Headquarters)
		Shiro Hori		(In Charge of International Sales and General Manager of International Sales Headquarters: America, Asia, and Oceania Region)
Director, Corporate Officers		Tomoyasu Kato		(General Manager of Research and Development Headquarters (In Charge of Research and Development))
		Tadashi Asanuma		(In Charge of Domestic Sales and General Manager of Domestic Sales Marketing Headquarters: Nagoya Area)
		Hisayoshi Niwa		(General Manager of Quality Headquarters)
		Shinichiro Tomita		(General Manager of Research and Development Headquarters (In Charge of Product Development))
		Tetsuhisa Kaneko		(General Manager of Purchasing Headquarters)
		Yoji Aoki		(General Manager of Administration Headquarters)
Outside Director		Motohiko Yokoyama		(President and Representative Director of JTEKT Corporation)

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English Translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU” originally issued in Japanese

Board of Statutory Auditors

Standing Statutory Auditors		Toshihito Yamazoe
		Haruhito Hisatsune		(Outside Auditor)
Statutory Auditors		Masahumi Nakamura		(Outside Auditor, Certified Accountant)
		Michiyuki Kondo		(Outside Auditor, Lawyer)

Corporate officers

Corporate Officers		Zenji Mashiko		(General Manager of Domestic Sales Marketing Headquarters: Tokyo Area)
		Toshio Hyuga		(General Manager of Domestic Sales Marketing Headquarters: Osaka Area)
		Hiroshi Okamoto		(President of Makita U.S.A. Inc)
		Tamiro Kishima		(Senior Managing Director of Dolmar G.m.b.H)
		Osamu Yokoyama		(President of Makita (China) Co., Ltd. and Makita (Kunshan) Co., Ltd.)

Independent Registered Public Accounting Firm

     KPMG AZSA & Co.

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English Translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU” originally issued in Japanese

Information on Shares

(As of September 30, 2009)

Fiscal period		The one (1) year period from April 1 of each year to March 31 of the following year
Ordinary general meeting of shareholders		June
Number of shares constituting one unit		100 shares
Record dates		1) Ordinary general meeting of shareholders and cash dividends for the second half
		March 31 of each year
		2) Cash dividends for the interim period
		September 30 of each year
Transfer agent of common stock		The Chuo Mitsui Trust and Banking Company, Limited
		33-1, Shiba 3-chome, Minato-ku, Tokyo 105-8574, Japan
Its handling office		The Chuo Mitsui Trust and Banking Company, Limited
		Nagoya Branch Office
		15-33, Sakae 3-chome, Naka-ku, Nagoya, Aichi 460-8685, Japan
		Website: http://www.chuomitsui.co.jp/person/p06.html
Its liaison offices		Head office and nationwide branch offices of The Chuo Mitsui Trust and Banking Company, Limited
		Head office and nationwide branch offices of Japan Securities Agents, Ltd.
Means of public notice		Website: http://www.makita.co.jp/ir/index1.htm
Common stock listings		Domestic		Tokyo and Nagoya stock exchanges (stock code: 6586)
		Overseas		American Depositary Receipts: The Nasdaq Global Select Market (stock code: MKTAY)

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English Translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU” originally issued in Japanese