Makita Corporation
Consolidated Financial Results
for the year ended March 31, 2021
(IFRS Financial Information)(English translation of "KESSAN TANSHIN"
originally issued in Japanese)

CONSOLIDATED FINANCIAL RESULTS
FOR THE YEAR ENDED MARCH 31, 2021 (Unaudited)
April 27th, 2021

Makita Corporation
Stock code: 6586
URL: https://www.makita.co.jp/
Munetoshi Goto, President, Representative Director

1. Summary operating results of the year ended March 31, 2021 (From April 1, 2020 to March 31, 2021)(1) CONSOLIDATED OPERATING RESULTS
Yen (millions)
For the year ended
For the year ended
March 31, 2020
March 31, 2021%%
Revenue ...........................................................................
492,6170.4
608,331
23.5
Operating profit ...............................................................
64,046(18.2)
88,464
38.1
Profit before income taxes ...............................................
66,008(17.4)
87,19932.1
Profit................................................................................
48,051(14.5)
62,684
30.5
Profit attributable to owners of the parent .......................
47,731(14.4)
62,01829.9
Comprehensive income ....................................................
15,415(56.7)
101,929
561.2
Yen
Profit attributable to owners of the parent per share(Basic) .........................................................................
175.80228.41(Diluted) ......................................................................
Ratio of profit attributable to owners of the parent
to total equity attributable to owners of the parent(%) ....
8.3%
10.1%
Ratio of profit before income taxes to total assets(%) .....
9.7%
11.7%
Ratio of operating profit to revenue(%) ..........................
13.0%
14.5%
Notes:
1. Amounts of less than one million yen have been rounded.
2. The table above shows the changes in the percentage ratio of revenue, operating profit, profit before income
taxes, profit, profit attributable to owners of the parent, and comprehensive income against the previous year.
(2) SELECTED CONSOLIDATED FINANCIAL POSITION

Total assets ......................................................................
Total equity ......................................................................
Total equity attributable to owners of the parent ..............
Ratio of equity attributable to owners of the parent
to total assets (%) ............................................................

Yen (millions)
As of
As of
March 31, 2021
March 31, 2020
674,564
812,878575,748
663,326
571,275
657,855
84.7%

80.9%
Yen

Equity attributable to owners of the parent per share .......

English Translation of "KESSAN TANSHIN" originally issued in Japanese

2,104.01

2,422.80

1(3) CONSOLIDATED CASH FLOWS
Yen (millions)
For the year ended
For the year ended
March 31, 2020
March 31, 2021
57,310(30,506)(22,931)
143,439

Net cash provided by operating activities.........................
Net cash used in investing activities .................................
Net cash used in financing activities ................................
Cash and cash equivalents, end of the fiscal year .............

64,537(42,913)(23,036)
148,640

2. Dividend Information
Yen

Cash dividend per share:
Interim ....................................................................
Year-end ..................................................................
Total ........................................................................

For the year
ended March 31,
2020

For the year
ended March 31,
2021

For the year
ending March
31, 2022(Forecast)

10.00
43.00
53.00

10.00
59.00
69.00

10.00
(Note)(Note)Yen (millions)
Total cash dividend ......................................................
14,39018,735
Dividend payout ratio (%) ...........................................
30.1%
30.2%
Ratio of equity attributable to owners of the parent tototal assets (%) ............................................................
2.5%
3.0%
Note: While the Corporation has set forth under the Articles of Corporation of the Corporation that the record date forthe payment of dividend shall be the last day of a relevant period, at the present time, the projected amount ofdividends as of the said record date has not been determined yet. For further details, refer to “(5) Basic policy
regarding profit distribution and cash dividend for fiscal 2021 and 2022” on page 7.
3. Consolidated Financial Performance Forecast for the year ending March 31, 2022
Yen (millions)
For the year ending
March 31, 2022
Revenue..................................................................................................
Operating profit ......................................................................................
Profit before income taxes......................................................................
Profit attributable to owners of the parent ..............................................

610,000
83,00082,30059,000

%
0.3
(6.2)
(5.6)
(4.9)

Yen
Profit attributable to owners of the parent per share ..............................

English Translation of "KESSAN TANSHIN" originally issued in Japanese

217.292

4. Others(1) Changes in important subsidiaries for the fiscal year (Changes in specified subsidiaries accompanied by changes inscope of consolidation): None
(2) Changes in accounting policies:
1. Changes in accounting policies required by IFRS: Yes
2. Changes in accounting policies other than 1: None
3. Changes in accounting estimate: None
(3) Number of shares outstanding (common stock)
1. Number of shares issued (including treasury stock):
2. Number of treasury stock:
3.Average number of shares outstanding:

As of March 31, 2021:
As of March 31, 2020:
As of March 31, 2021:
As of March 31, 2020:
For the year ended March 31, 2021:
For the year ended March 31, 2020:

280,017,520
280,017,520
8,490,396
8,500,530
271,524,393
271,502,528

Makita’s earnings releases (KESSAN TANSHIN) are not subject to an audit.
Explanation regarding proper use of business forecasts, and other significant matters
Regarding the assumptions for the forecasts and other matters, refer to “(4) Outlook for the fiscal year ending
March 31, 2022” on page 5. The financial forecast given above is based on information as available at the present
time, and includes potential risks and uncertainties. As a consequence of the factors above and other, actual results
may vary from the forecasts provided above.

English Translation of "KESSAN TANSHIN" originally issued in Japanese

3

SUPPLEMENT INFORMATION (CONSOLIDATED)
1. Overview of operating results(1) Explanation of consolidated operating results
Looking at the international economic situation for the year ended March 31, 2021, the world economy, which
had crashed sharply due to the spread of the novel coronavirus (COVID-19), was on a gradual recovery path mainly
due to the economic and financial measures taken by countries and the spread of vaccinations. However,uncertainties about the future still continue due to concerns over the resurgence of infections caused by variants, theoutlook regarding U.S.-China friction and other factors.
Under these circumstances, on the development side, the Makita Group concentrated its efforts on expanding thelineup of lithium-ion battery products, such as the “40Vmax lithium-ion battery” series of cordless tools offeringhigh power, long life and durability.
On the production side, we worked to increase production in response to increasing demand and to promote
multi-polarized global production and began taking initiatives toward going plastic-free by reducing plastic bags, etc.
used for product packaging and shifting to paper and other environmentally friendly materials.
On the sales side, we continued to focus on expanding the sales of lithium-ion battery products, such as cordlessgardening equipment. In addition, we made efforts to further strengthen trusting relationships with customers aroundthe world by continuing to steadily provide customer support and after-sales services even amid the pandemic thatmade it difficult to carry out normal sales activities.
Our consolidated revenue for this period increased 23.5 % year-on-year to 608,331 million yen due to strong sales
mainly in domestic and developed countries, despite a decrease in overseas sales due to foreign exchange rate. In
terms of profits, operating profit increased 38.1% year-on-year to 88,464 million yen (operating profit margin:
14.5%) due to increased sales despite an increase in a cost rate. Profit before income taxes increased 32.1%
year-on-year to 87,199 million yen (profit margin before income taxes: 14.3%), and profit attributable to owners of
the parent increased 29.9% to 62,018 million yen (ratio of profit attributable to owners of the parent: 10.2%).
Revenue by region are as follows:
Revenue in Japan increased by 12.3% to 113,048 million yen compared to the previous year. This was due to steadydemand for highly efficient cordless products at building and construction sites, as well as demand supported bygovernment subsidies for sustaining businesses and nesting.
Revenue in Europe increased by 30.8% to 282,725 million yen as we demonstrated the strength of having bases ineach country. Sales were up in response to demand for tools at building and construction sites and robust stay homedemand amid travel restrictions imposed by the COVID-19 pandemic.
Revenue in North America increased by 25.8% to 90,945 million yen due to the promotion of our mainstay cordlessproducts was successful in addition to stay home demand and demand for tools caused by an increase in the numberof new housing starts.
In Asia, although stagnant economic activities due to the spread of COVID-19 caused sales to slump in many
countries, we posted higher sales in China, Taiwan and others. As a result, consolidated revenue in Asia increased
0.9% to 39,331 million yen.
In Central and South America, although there was the significant depreciation of local currencies, sales volumes
increased due to nesting demand and the strong demand for tools due to the resumption of economic activities andactive sales activities; consequently, sales increased 13.1% year-on-year to 29,403 million yen.
In Oceania, sales increased 45.3% year-on-year to 41,304 million yen due to increased sales of cordless products
including both cordless power tools and cordless outdoor power equipment led by nesting demand and Australian
government policies to support the economies.
In the Middle East and Africa, despite continued impact led by COVID-19 outbreak, some countries werepreparing for recovery in demand after the settlement of COVID-19, so sales increased 16.1% year-on-year to 11,575
million yen.

English Translation of "KESSAN TANSHIN" originally issued in Japanese4(2) Overview of financial situation for the fiscal year ended March 31, 2021
Total assets as of the end of the year increased by 138,314 million yen to 812,878 million yen compared to thebalance as of March 31, 2020. This increase was mainly due to the rise in “Inventories” and “Property, plant andequipment.”
Total liabilities increased by 50,736 million yen to 149,552 million yen compared to the balance as of March 31,
2020. This increase was mainly due to the rise in “Trade payables and other payables.”Total equity increased by 87,578 million yen to 663,326 million yen compared to the balance as of March 31, 2020.
This increase was mainly due to the rise in “Retained earnings.”(3) Overview of cash flow situation for the fiscal year ended March 31, 2021
Total cash and cash equivalents amounted to 148,640 million yen, increased by 5,201 million yen compared to theend of the previous year.
Net cash provided by operating activities amounted to 64,537 million yen (57,310 million yen in the previous year),up 7,227 million yen over the previous year due mainly to an increase in trade payables and other payables.
Net cash used in investing activities amounted to 42,913 million yen (30,506 million yen in the previous year), up
12,407 million yen over the previous year, due to increases in payments into time deposits and in purchase ofnon-current assets.
Consequently, free cash flows (the sum of cash flows from operating activities and investing activities) amounted to
21,624 million yen (26,804 million yen in the previous year), down 5,180 million yen over the previous year.
Net cash used in financing activities amounted to 23,036 million yen (22,931 million yen in the previous year), up
105 million yen over the previous year, due to an increase in repayment of short-term borrowings.
(4) Outlook for the fiscal year ending March 31, 2022
In the future, the Makita Group expects that the prospect for the global economy will continue to be uncertain.
Meanwhile, the Group believes that demand for environmental and human friendly tools that contribute to thesolution of social issues, such as the labor shortage and environment conservation by increased efficiency of works,
will continue to increase further both in emerging and developed countries.
To cope with these assumed conditions, Makita will:・ Strengthen its R&D and product development capabilities, mainly for the technologies of motors andtechnologies for discharge/charge of batteries, to take the initiative in cordless products market;
・ Position cordless gardening equipment as a future pillar of its business after power tools and help to bringabout a decarbonized society by promoting the shift from engine products.
・ Strengthen new product development and sales expansion in new fields, such as cleaning, outdoor anddisaster prevention, and strive to evolve into a manufacturer of cordless products.
・ Implement measures to strengthen and improve the efficiency of production, procurement and distribution,
while further upgrading global production bases; and・ Strive to raise its brand power by promoting the establishment of a sales and after-sales service network tooffer community-based and fine-tuned response to needs of customers around the world.
On the basis of these factors, the Group will strive to maintain a solid presence in the industry and contribute toachieve a sustainable society as a global supplier power tools used in home-building and in everyday life.

English Translation of "KESSAN TANSHIN" originally issued in Japanese5

(Consolidated Financial Performance Forecast for the Year Ending March 31, 2022.)
The world economy is gradually recovering from the impact of COVID-19 and steady demand is expected also
in the markets related to the Makita Group. However, we view that the future outlook for the environment
surrounding the Group will likely remain unclear due to the projected continuation of demand for goods to be
consumed at home that arose during the year under review, and other factors.
On the basis of these assumptions, our consolidated financial forecasts for the year ending March 31, 2022 are as
follows.
Yen (millions)
For the year ending
March 31, 2022
Revenue .....................................................................................................
Operating profit ..........................................................................................
Profit before income taxes .........................................................................
Profit attributable to owners of the parent..................................................

610,000
83,00082,30059,000[Preconditions]
The above forecast is based on the assumption of exchange rates of 105 yen to the U.S. dollar, 125 yen to the euro and16.2 yen to the renminbi.
[Reference]
The actual exchange rate for the year ended March 31, 2021 was 106.10 yen to the U.S. dollar, 123.76 yen to the euro
and 15.68 yen to the renminbi.
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, demandfor housing, currency exchange rates, changes in competitiveness, and other factors. Due to the risks anduncertainties involved, actual results could differ substantially from the content of these statements. Therefore, thesestatements should not be interpreted as representation where such objectives will be achieved.

English Translation of "KESSAN TANSHIN" originally issued in Japanese6(5) Basic policy regarding profit distribution and cash dividend for the fiscal 2021 and 2022
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 10 yen per share. However, in the event special circumstances,computation of the amount of dividends will be based on profit attributable to owners of the parent 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.
Makita intends to maintain a financial position strong enough to withstand the challenges associated with changes
in its business environment and other changes and allocate funds for strategic investments aimed at expanding its
global operations.
Our forecast for dividends is as follows;
For the year ended
March 31, 2021
(Result and Forecast)

For the year ending
March 31, 2022
(Forecast)

Cash dividend per share:
Interim ......................................................................

10.00 yen

10.00 yen

Year-end ....................................................................

59.00 yen

(Note)(Note)
Total ..........................................................................
69.00 yen
Note: The Board of Directors plans to meet in April 2022 for a report on earnings for the year ending March 31, 2022.
At such 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 profit attributable to owners of the parent.
The Board of Directors will submit this proposal to the General Meeting of Shareholders scheduled for June
2022. However, if certain special circumstances arise, computation of the amount of dividends will be based on
profit attributable to owners of the parent after certain adjustments.

The consolidated dividend payout ratio is calculated as annual dividends per share divided by profit
attributable to owners of the parent per share (after adjustments for special circumstances) and multipliedby 100.
2. Basic Rationale for Selection of Accounting Standards
Makita has voluntarily adopted International Financial Reporting Standards (IFRS) from the fiscal year ended
March 31, 2019 in order to improve global comparability in financial market.

English Translation of "KESSAN TANSHIN" originally issued in Japanese73. Consolidated Financial Statements (Unaudited)(1) Consolidated Statement of Financial Position
Yen (millions)
As of March 31, 2020
As of March 31, 2021
Composition ratio

Composition ratio

ASSETS
CURRENT ASSETS:
Cash and cash equivalents ..............................

143,439

148,640

Trade receivables and other receivables .........

69,59995,691Inventories ......................................................

214,560

267,547

Other financial assets .....................................

25,235

18,227

Other current assets ........................................

7,633

10,223

Total current assets......................................

460,466

68.3%

540,328

66.5%

NON-CURRENT ASSETS:
Property, plant and equipment, at cost............

146,649

189,366

Goodwill and intangible assets .......................

8,749

9,364

Other financial assets .....................................

38,55151,011

Net defined retirement benefit assets .............

9,511

10,685

Deferred income taxes ....................................

6,932

8,860

Other non-current assets .................................

3,706

3,264

Total non-current assets...............................

214,098

31.7%

272,550

33.5%

Total assets ............................................................

674,564100.0%

812,878

100.0%English Translation of "KESSAN TANSHIN" originally issued in Japanese

8Yen (millions)
As of March 31, 2020
As of March 31, 2021
Composition ratio

Composition ratio

LIABILITIES AND EQUITY
LIABILITIESCURRENT LIABILITIES:
Trade payables and other payables .................

34,95959,792

Borrowings .....................................................

7,997

2,612

Other financial liabilities ................................

2,468

4,080

Income taxes payable .....................................

3,757

11,218Provisions .......................................................

2,931

3,665

Other current liabilities ...................................

27,26440,431

Total current liabilities ................................

79,376

11.7%

121,798

15.0%

NON-CURRENT LIABILITIES:
Retirement benefit liabilities .............................

3,138

3,406

Other financial liabilities ................................

9,894

11,764

Provisions .......................................................

1,248

1,421

Deferred income taxes ....................................

4,952

10,954

Other non-current liabilities ...........................

208

209

Total non-current liabilities .........................

19,4402.9%

27,754

3.4%

Total liabilities ......................................................

98,816

14.6%

149,552

18.4%

EQUITY
Common stock ...............................................

23,80523,805Additional paid-in capital ...............................

45,53145,559Retained earnings ...........................................

540,063588,644

Treasury stock, at cost ....................................

(11,554)(11,543)

Other components of equity ...........................

(26,570)

11,390Total equity attributable to owners of the parent ...

571,275

84.7%

657,855

80.9%

NON-CONTROLLING INTEREST ....................

4,473

0.7%

5,471

0.7%

Total equity ...........................................................

575,74885.4%

663,326

81.6%

Total liabilities and equity .....................................

674,564100.0%

812,878

100.0%English Translation of "KESSAN TANSHIN" originally issued in Japanese9(2) Consolidated Statements of Profit or Loss and Consolidated Statements of Comprehensive Income
Consolidated Statements of Profit or Loss
Yen (millions)
For the year ended
For the year ended
March 31, 2021
March 31, 2020
Composition ratio

Composition ratio

REVENUE ..............................................................................

492,617 100.0%

608,331 100.0%

Cost of sales ............................................................................

(323,776) (65.7%)(405,282) (66.6%)

GROSS PROFIT .....................................................................

168,841

203,049

Selling, general, administrative and others, net .......................

(104,795) (21.3%)

34.3%
13.0%

33.4%

(114,585) (18.9%)

OPERATING PROFIT ............................................................

64,046

Financial income .....................................................................

2,558

1,813

Financial expenses...................................................................

(596)(3,078)PROFIT BEFORE INCOME TAXES .....................................

66,008

Income tax expenses................................................................

(17,957)

PROFIT ...................................................................................

48,051

9.8%

62,684

10.3%

Owners of the parent ...............................................................

47,731

9.7%

62,01810.2%

Non-controlling interests .........................................................

320

0.1%

666

0.1%

13.4%

88,46414.5%

87,19914.3%(24,515)

Profit attributable to:Consolidated Statements of Comprehensive Income
Yen (millions)
For the year ended
For the year ended
March 31, 2021
March 31, 2020
48,051

62,684

201

953

through other comprehensive income (loss) ............................

(2,509)

9,072

Total of items that will not be reclassified to profit (loss) ...........

(2,308)10,025

Exchange differences on translating foreign operations ..........

(30,328)

29,220Total of items that may be reclassified to profit (loss) ................

(30,328)

29,220Total other comprehensive income (loss), net of tax ...................

(32,636)

39,245COMPREHENSIVE INCOME ...................................................

15,415

101,929

Owners of the parent ...............................................................

15,271

100,931

Non-controlling interests ....................................................

144

998

PROFIT .......................................................................................
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX

Items that will not be reclassified to profit (loss)
Remeasurement of defined benefit plans.................................
Equity financial goods measured at fair value

Items that may be reclassified to profit (loss)

Comprehensive income attributable to:English Translation of "KESSAN TANSHIN" originally issued in Japanese10

(3) Consolidated Statement of Changes in Equity
Yen (millions)
For the year ended March 31, 2020
Equity attributable to owners of the parent

Balance at April 1, 2019

Commonstock

Additional
paid-in
capitalRetainedearnings

Treasury
stock

Other
componentsof equity

23,80545,571

508,622(11,681)

6,431

Profit for the period

Comprehensive income--

Dividends paid

47,731-Total
equity4,474

577,22247,731

320

48,051(32,460)(32,460)(176)(32,636)(32,460)

15,271

144

15,415(16,831)(145)(16,976)(16,831)

Purchase of treasury stockTotal
572,748

47,731Other comprehensive income

NonControllinginterest

(2)

(2)

(2)

Disposal of treasury stock

(13)

61

48

48

Share-based paymenttransaction

(27)

68

41

41

(541)

-

-

Transfer from othercomponents of equity toretained earnings

541

Total amounts of transactions
with owners
Balance at March 31, 2020

-

(40)

(16,290)

127

(541)

(16,744)(145)(16,889)

23,80545,531

540,063(11,554)(26,570)

571,275

4,473

575,748

Yen (millions)
For the year ended March 31, 2021
Equity attributable to owners of the parent

Balance at April 1, 2020

Commonstock

Additional
paid-in
capitalRetainedearnings

Treasury
stock

Other
componentsof equity

23,80545,531

540,063(11,554)(26,570)

Profit for the period

Comprehensive income--

Dividends paid

62,018-

Share-based paymenttransaction

28

Transfer from othercomponents of equity toretained earnings
Total amounts of transactions
with owners
Balance at March 31, 2021

Total
equity4,473

575,748

62,018666

62,68438,91338,913332

39,24538,913

100,931998

101,929(14,390)-(14,390)(14,390)

Purchase of treasury stockTotal
571,275

62,018Other comprehensive income

NonControllinginterest

(4)

(4)

(4)

15

43

43

(953)

-

-

953
-

28

(13,437)

11

(953)

(14,351)-(14,351)

23,80545,559588,644(11,543)

11,390657,855

5,471

663,326

English Translation of "KESSAN TANSHIN" originally issued in Japanese11(4) Consolidated Statements of Cash Flows
Yen (millions)
For the year ended
For the year ended
March 31, 2021
March 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:Profit.....................................................................................................

48,051

62,684

Depreciation and amortization .............................................................

14,34916,491

Income tax expenses.............................................................................

17,957

24,515

Financial income and expenses ............................................................

(1,962)

1,265

Loss (gain) on sales and retirement of property, plant and equipment..............

(808)

817

Decrease (increase) in trade receivables and other receivables ............

4,396(21,481)

Decrease (increase) in inventories ........................................................

(9,148)(35,990)

Increase (decrease) in trade payables and other payables.....................

(1,499)21,868

Increase (decrease) in retirement benefit assets and liabilities .............

586

(152)

Decrease (Increase) in guarantee deposits ............................................

741

1,633

Other.....................................................................................................

3,538

8,178

Subtotal ..........................................................................................

76,201

79,828Dividends received ...............................................................................

712

688

Interest received ...................................................................................

1,488

730

Interest paid ..........................................................................................

(431)

(356)

Income taxes paid .................................................................................

(20,660)(16,353)

Cash flows from operating activities ..............................................

57,31064,537Purchase of non-current assets .............................................................

(44,409)(49,855)

Proceeds from sales of non-current assets ............................................

2,574

136

Purchase of investments .......................................................................

(4,000)(3,740)CASH FLOWS FROM INVESTING ACTIVITIES:

Proceeds from sales and redemption of investments ............................

7,641

8,157

Payments into time deposits .................................................................

(33,534)(46,829)

Proceeds from withdrawal of time deposits .........................................

40,96048,792Other.....................................................................................................

262

426

Cash flows from investing activities ..............................................

(30,506)(42,913)

CASH FLOWS FROM FINANCING ACTIVITIES:Net increase (decrease) in short-term borrowings ..............................

(3,461)(5,666)

Purchase and sales of treasury stock, net..............................................

46

(4)

Cash dividends paid .............................................................................

(16,831)(14,390)

Repayment of lease liabilities...............................................................

(2,537)(2,998)Other.....................................................................................................

(148)

22

Cash flows from financing activities ..............................................

(22,931)(23,036)

EFFECT OF EXCHANGE RATE CHANGES ON CASH AND
CASH EQUIVALENTS.......................................................................

(6,946)

6,613

NET CHANGE IN CASH AND CASH EQUIVALENTS ..................

(3,073)

5,201

CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR .......

146,512

143,439

CASH AND CASH EQUIVALENTS, END OF YEAR .....................

143,439

148,640

English Translation of "KESSAN TANSHIN" originally issued in Japanese12(5) Notes to Consolidated Financial Statements
Notes on the assumptions for a going concern: None
Changes in accounting policies:
The standards and interpretations that the Group has applied since the period are as follows;

IAS 1
IAS 8

IFRS
Presentation of Financial Statements
Accounting Policies, Changes in
Accounting Estimates and Errors

Overview of new establishment/revision
Revised definition of “materiality”

The application of above standards and interpretations will not have any material impact on the financial
statements.

English Translation of "KESSAN TANSHIN" originally issued in Japanese13

Segment Information
Yen (millions)
For the year ended March 31, 2020
North
Asia
Total
Other area
America

Eliminations

Consolidated

57,656587(376,385)

492,617-810,759

58,243(376,385)

492,61753,654

1,327

9,065

64,046

Eliminations

Consolidated

Japan

Europe(2) Inter-segment ........

118,797
176,567

217,113
7,323

74,1393,896

24,912
188,012434,961
375,798

Total .................

295,364

224,436

78,035

212,924

Operating profit (loss) ...

22,726

13,252(201)

17,877

Revenue:(1) Externalcustomers ................

Yen (millions)
For the year ended March 31, 2021
North
Asia
Total
Other area
AmericaJapan

Europe(2) Inter-segment ........

131,329
247,385

284,419
12,597

92,812
4,220

25,238265,547

533,798
529,749

74,533568(530,317)

608,331-

Total .................

378,714

297,016

97,032

290,785

1,063,547

75,101(530,317)

608,331

Operating profit ...........

31,102

29,837

3,681

20,722

85,342

4,358(1,236)

88,464

Revenue:(1) Externalcustomers ................

Revenue by product categories
Yen (millions)
For the year ended
For the year ended
March 31, 2020
March 31, 2021
Composition ratio

Finished goods..................................................................
Parts, repairs and accessories ...........................................
Total revenue................................................................

405,175
87,442492,617

82.2%
17.8%
100.0%

Increase(Decrease)

Composition ratio

504,169
104,162
608,331

82.9%
17.1%
100.0%

(%)

24.4
19.1
23.5

Information per share
Yen

Equity attributable to owners of the parent per share ......

As ofMarch 31, 2020
2,104.01

As ofMarch 31, 2021
2,422.80
Yen

For the year ended
March 31, 2020
Profit attributable to owners of the parent per share(Basic) .............................................................................

175.80For the year ended
March 31, 2021
228.41

Notes:
1. Profit attributable to owners of the parent per share (Basic) is calculated on the basis of the average number ofshares outstanding during the year. Average number of shares outstanding is as follows:
For the year ended March 31, 2020: 271,502,528
For the year ended March 31, 2021: 271,524,393
2. The amount of profit attributable to owners of the parent per diluted per share are not shown as diluted shares do not exist.
Significant Subsequent Events: None
English Translation of "KESSAN TANSHIN" originally issued in Japanese14

4. SUPPORT DOCUMENTATION (CONSOLIDATED)(1) Consolidated Financial Results and Forecast
Yen (millions)
For the year ended
For the year ended
March 31, 2021
March 31, 2020
Revenue .....................................................................................................
Domestic ...............................................................................................
Overseas................................................................................................
Operating profit .........................................................................................
Profit before income taxes .........................................................................
Profit attributable to owners of the parent .................................................
Profit attributable to owners of the parent per share (Yen) .......................
Number of Employees ...............................................................................

(%)

(%)

492,6170.4
100,6979.3
391,920(1.6)
64,046 (18.2)
66,008 (17.4)
47,731 (14.4)
175.8017,090608,331 23.5
113,048 12.3
495,283 26.4
88,464 38.1
87,199 32.1
62,018 29.9
228.41
18,624
Yen (millions)
For the year ending
March 31, 2022
(Forecast)(%)

Revenue ....................................................................................................................................
610,000
0.3
Domestic ..............................................................................................................................
114,000
0.8
Overseas...............................................................................................................................
496,000
0.1
Operating profit ........................................................................................................................
83,000(6.2)
Profit before income taxes ........................................................................................................
82,300(5.6)
Profit attributable to owners of the parent ................................................................................
59,000(4.9)
Profit attributable to owners of the parent per share (Yen) .....................................................
217.29Number of Employees ..............................................................................................................
Notes:
1. Please refer to 1. Overview of operating results Section 4 “Outlook for the fiscal year ending March 31, 2022”
on page 5.
2. The table above shows the changes in the percentage ratio of revenue, operating profit, profit before income
taxes, and profit attributable to owners of the parent compared to the corresponding period of the previous year.

English Translation of "KESSAN TANSHIN" originally issued in Japanese15

(2) Consolidated Revenue by Geographic Area
Yen (millions)
For the year ended
For the year ended
March 31, 2021
March 31, 2020
(%)

(%)

Japan ................................................................
100,697
9.3
113,048
12.3
Europe .............................................................
216,230
1.4
282,72530.8
72,304(0.3)
90,945
25.8
North America .................................................
Asia .................................................................
38,998(4.7)
39,331
0.9
Central and South America..............................
26,000(6.5)
29,40313.1
28,421(6.0)
41,30445.3
Oceania............................................................
The Middle East and Africa.............................
9,967 (27.6)
11,575
16.1
Total.................................................................
492,6170.4
608,331
23.5
Note: The table above sets forth Makita's consolidated revenue by geographic area based on the customer’s location forthe periods presented. Accordingly, it differs from “Segment Information” on page 14.
The table shows the changes in the percentage ratio of revenue compared to the corresponding period of theprevious year.
(3) Exchange Rates
Yen
For the year ended
March 31, 2020

For the year ended
March 31, 2021

For the year ending
March 31, 2022
(Forecast)

108.70120.81
15.60

106.10123.76
15.68

105
125
16.2

USD/JPY .................................................
EUR/JPY .................................................
RMB/JPY ................................................

(4) Production Ratio (unit basis)

Domestic .....................................................................
Overseas ......................................................................

For the year ended
March 31, 2020

For the year ended
March 31, 2021

Composition ratio

Composition ratio

10.7%
89.3%

7.7%
92.3%

(5) Consolidated Capital Expenditures, Depreciation and Amortization, and R&D cost
Yen (millions)
For the year
For the year ended
ending
For the year ended
March 31, 2021
March 31, 2022
March 31, 2020
(Forecast)
Capital expenditures ...................
Depreciation and amortization ...
R&D cost ....................................

44,40912,058
11,60149,855
13,881
12,783English Translation of "KESSAN TANSHIN" originally issued in Japanese

75,00016,20014,50016