Makita Corporation
Consolidated Financial Results
for the year ended March 31, 2022
(IFRS Financial Information)(English translation of "KESSAN TANSHIN"
originally issued in Japanese)

CONSOLIDATED FINANCIAL RESULTS
FOR THE YEAR ENDED MARCH 31, 2022 (Unaudited)
April 27th, 2022

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, 2022 (From April 1, 2021 to March 31, 2022)(1) CONSOLIDATED OPERATING RESULTS
Yen (millions)
For the year ended
For the year ended
March 31, 2021
March 31, 2022%%
Revenue ...........................................................................
608,33123.5
739,260
21.5
Operating profit ...............................................................
88,46438.1
91,728
3.7
Profit before income taxes ...............................................
87,19932.1
92,483
6.1
Profit................................................................................
62,68430.5
65,337
4.2
Profit attributable to owners of the parent .......................
62,01829.9
64,7704.4
Comprehensive income ....................................................
101,929561.2
108,118
6.1
Yen
Profit attributable to owners of the parent per share(Basic) .........................................................................
228.41238.54(Diluted) ......................................................................
Ratio of profit attributable to owners of the parent
to total equity attributable to owners of the parent (%) ...
10.1%
9.2%
Ratio of profit before income taxes to total assets (%) ....
11.7%
10.2%
Ratio of operating profit to revenue (%) .........................
14.5%
12.4%
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 ......................................................................
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, 2022
March 31, 2021
812,878
1,007,497
663,326
752,530
657,855
746,344
80.9%

74.1%
Yen

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

English Translation of "KESSAN TANSHIN" originally issued in Japanese

2,422.80

2,748.64

1

(3) CONSOLIDATED CASH FLOWS
Yen (millions)
For the year ended
For the year ended
March 31, 2021
March 31, 2022
64,537(42,913)(23,036)
148,640

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

(103,660)(27,891)
52,626
71,057

2. Dividend Information
Yen

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

For the year
ended March 31,
2021

For the year
ended March 31,2022

For the year
ending March
31, 2023(Forecast)

10.00
59.00
69.00

10.00
62.00
72.00

10.00
(Note)(Note)Yen (millions)
Total cash dividend ......................................................
18,735
19,550
Dividend payout ratio (%) ...........................................
30.2%
30.2%
Ratio of total cash dividend attributable to owners of
the parent to total assets (%)........................................
3.0%
2.8%
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 2022 and 2023” on page 7.
3. Consolidated Financial Performance Forecast for the year ending March 31, 2023
Yen (millions)
For the year ending
March 31, 2023
Revenue..................................................................................................
Operating profit ......................................................................................
Profit before income taxes......................................................................
Profit attributable to owners of the parent ..............................................

740,000
85,00083,00059,000%0.1(7.3)(10.3)(8.9)

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

217.29Note: 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 against the previous year.

English Translation of "KESSAN TANSHIN" originally issued in Japanese2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 and accounting estimates:
1. Changes in accounting policies required by IFRS: None
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 shares:
3.Average number of shares outstanding:

As of March 31, 2022:
As of March 31, 2021:
As of March 31, 2022:
As of March 31, 2021:
For the year ended March 31, 2022:
For the year ended March 31, 2021:

280,017,520
280,017,520
8,485,061
8,490,396
271,530,966
271,524,393

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, 2023” 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 during the fiscal year under review, while economic and social
activities have been normalized, particularly in developed countries, in line with the rollout of the COVID-19 vaccine,the future remains uncertain due to shortages of goods and logistics disruptions in the supply chain, rising prices, theresurgence of infections caused by coronavirus mutations, and the growing international tension surrounding the
Ukraine issue.
Against this backdrop, our group focused its development efforts on expanding its lineup of rechargeable finishedgoods, including power tools and outdoor power equipment, in the "40Vmax Lithium-ion Battery" series, which
offers high power, long life and high durability.
On the production side, we worked to increase production in response to increasing demand and to promote
multi-polarized global production
On the sales side, we focused on increasing the level of the community-based and customer-oriented service
framework in order to further strengthen trusting relationships with customers around the world. We strive to deepenand develop the market centered on cordless products.
As a result of favorable sales both in Japan and overseas, our group's consolidated financial results for the fiscal
year under review set a new record high, with revenue rising 21.5% over the previous fiscal year to 739,260 million
yen. In terms of profit, operating profit increased 3.7% year-on-year to 91,728 million yen (an operating margin of
12.4%) due to an increase in revenue, despite higher costs due to higher transportation costs. Profit before tax
increased 6.1% year-on-year to 92,483 million yen (a profit before tax rate of 12.5%), and profit attributable toowners of the parent company increased 4.4% year-on-year to 64,770 million yen (a profit rate attributable toowners of the parent company of 8.7%).
Revenue by region are as follows:
In Japan, sales of both power tools and outdoor power equipment, particularly lithium-ion battery products, werestrong and increased by 4.4% compared with the same period of previous year to 118,050 million yen.
In Europe, while stay-at-home demand slowed down, demand for tools at active building and construction sites andsales of cordless outdoor power equipment continued to be strong, resulting in an increase in sales of 24.7% year on
year to 352,470 million yen.
In North America, sales of power tools accompanied by strong housing demand and sales of cordless outdoor
power equipment were strong, resulting in an increase in sales of 23.4% year on year to 112,248 million yen.
In Asia, COVID-19 cases increased again in various regions affecting our sales activities, but sales in Taiwan andSoutheast Asia were strong, resulting in an increase in sales of 25.1% year on year to 49,196 million yen.
In Central and South America, inflation accelerated in many countries; however, sales activities to capture solid
demand for tools resulted in an increase in sales of 42.0% year on year to 41,765 million yen.
In Oceania, sales increased by 24.9% year on year to 51,579 million yen due to strong demand for tools at building
and construction sites despite the impact of lockdowns due to the resurgence of new cases of infection in major cities.
In the Middle East and Africa, sales increased by 20.5% year on year to 13,952 million yen as the demand for tools
at building and construction sites in each country was captured although unstable political and economic conditions
continued.

(Initiatives toward carbon neutrality)
The impact of climate change on society, such as frequent wind and flood disasters, is becoming more serious, andcompanies are playing an increasingly important role in realizing a decarbonized society. Our company views climatechange as an important business issue.
For this reason, our company has prioritized contributing to the solution of climate change issues by, for example,
focusing on cordless outdoor power equipment that does not emit exhaust gas when used. However, in order to further
English Translation of "KESSAN TANSHIN" originally issued in Japanese4

accelerate these efforts, we have newly set targets for reducing greenhouse gas (GHG) emissions. Our targets are to
reduce GHG emissions from our business activities (Scope 1, 2) by 50% from fiscal 2020 levels by fiscal 2030, toreach net zero emissions by fiscal 2040, and to achieve net zero GHG emissions throughout the supply chain (Scope3) by fiscal 2050.
In addition, recognizing the importance of dialogue with stakeholders on climate-related risks and opportunities, we
disclosed information on our company website for the first time based on the recommendations of the Task Force on
Climate-related Financial Disclosures (TCFD). Going forward, in addition to energy conservation in our businessactivities, we will steadily promote initiatives to reduce GHG emissions, including the use of renewable energy, andwork to enhance information disclosure.
(2) Overview of financial situation for the fiscal year ended March 31, 2022
Total assets as of the end of the year increased by 194,619 million yen to 1,007,497 million yen compared to thebalance as of March 31, 2021. This increase was mainly due to the rise in “Inventories” and “Property, plant andequipment.”
Total liabilities increased by 105,415 million yen to 254,967 million yen compared to the balance as of March 31,
2021. This increase was mainly due to the rise in “Borrowings.”
Total equity increased by 89,204 million yen to 752,530 million yen compared to the balance as of March 31, 2021.
This increase was mainly due to the rise in “Retained earnings.”(3) Overview of cash flow situation for the fiscal year ended March 31, 2022
Total cash and cash equivalents amounted to 71,057 million yen, decreased by 77,583 million yen compared to theend of the previous year.
Net cash used in operating activities amounted to 103,660 million yen (net cash provided by operating activities
amounted to 64,537 million yen in the previous year), up 168,197 million yen over the previous year due mainly to
an increase in inventories.
Net cash used in investing activities amounted to 27,891 million yen (42,913 million yen in the previous year),down 15,022 million yen over the previous year, due to decreases in payments into time deposits.
Consequently, free cash flows (the sum of cash flows from operating activities and investing activities) amounted to-131,551 million yen (21,624 million yen in the previous year), down 153,175 million yen over the previous year.
Net cash provided by financing activities amounted to 52,626 million yen (net cash used in financing activities
amounted to 23,036 million yen in the previous year), up 75,662 million yen over the previous year, due to anincrease in short-term borrowings.
(4) Outlook for the fiscal year ending March 31, 2023
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;
・ Positioning cordless outdoor power equipment as the next pillar of our future business after power tools, wewill contribute to the realization of a decarbonized society by promoting deep cultivation and development of
the market.
・ We will strengthen the development and sales expansion of new finished goods in new fields such as
cleaning, outdoor activities, and disaster prevention, and work to evolve into a supplier of a comprehensive
range 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 to
English Translation of "KESSAN TANSHIN" originally issued in Japanese5achieve a sustainable society as a global supplier of a comprehensive range of tools for creating comfortable homes
and living environments..
(Consolidated Financial Performance Forecast for the Year Ending March 31, 2023)
The environment surrounding our group is expected to remain uncertain due to shortages of goods and logistics
disruptions in the supply chain, rising prices, and the growing international tension surrounding the Ukraine issue.
Our group's business performance is also expected to be affected by the continued rise in transportation andmaterials costs.
Based on these assumptions, the consolidated financial results for the fiscal year ending March 2023 are
estimated to be as follows.
Yen (millions)
For the year ending
March 31, 2023
Revenue .....................................................................................................
Operating profit ..........................................................................................
Profit before income taxes .........................................................................
Profit attributable to owners of the parent..................................................

740,000
85,00083,00059,000[Preconditions]
The above forecast is based on the assumption of exchange rates of 120 yen to the U.S. dollar, 130 yen to the euro and18.9 yen to the renminbi.
[Reference]
The actual exchange rate for the year ended March 31, 2022 was 112.39 yen to the U.S. dollar, 130.55 yen to the euro
and 17.51yen 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 2022 and 2023
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 per share 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, 2022
(Result and Forecast)

For the year ending
March 31, 2023
(Forecast)

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

10.00 yen

10.00 yen

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

62.00 yen

(Note)(Note)
Total ..........................................................................
72.00 yen
Note: The Board of Directors plans to meet in April 2023 for a report on earnings for the year ending March 31, 2023.
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
2023. 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, 2021
As of March 31, 2022
Composition ratio

Composition ratio

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

148,640

71,057

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

95,691

117,541

Inventories ......................................................

267,547

475,128

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

18,227

5,281

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

10,223

15,952

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

540,328

66.5%

684,959

68.0%

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

189,366

243,636

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

9,364

10,085

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

51,011

41,545Retirement benefit assets ................................

10,685

11,286

Deferred tax assets .........................................

8,860

12,238Other non-current assets .................................

3,264

3,748

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

272,550

33.5%

322,538

32.0%

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

812,878

100.0%

1,007,497

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

8Yen (millions)
As of March 31, 2021
As of March 31, 2022
Composition ratio

Composition ratio

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

59,792

67,274

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

2,612

79,674

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

4,080

9,888

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

11,21814,767

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

3,665

4,381

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

40,431

48,181

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

121,798

15.0%

224,165

22.2%

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

3,406

3,160

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

11,764

13,954

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

1,421

1,595

Deferred tax liabilities ....................................

10,954

11,888Other non-current liabilities ...........................

209

205

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

27,7543.4%

30,802

3.1%

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

149,552

18.4%

254,967

25.3%

EQUITY
Share Capital ..................................................

23,80523,805

Capital Surplus ...............................................

45,55945,585Retained earnings ...........................................

588,644

640,577

Treasury shares ...............................................

(11,543)(11,540)

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

11,39047,917

Total equity attributable to owners of the parent ...

657,85580.9%

746,344

74.0%

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

5,471

0.7%

6,186

0.6%

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

663,326

81.6%

752,530

74.7%

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

812,878

100.0%

1,007,497

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, 2022
March 31, 2021
Composition ratio

Composition ratio

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

608,331 100.0%

739,260 100.0%

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

(405,282) (66.6%)(510,942) (69.1%)

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

203,049

228,318

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

(114,585) (18.9%)

33.4%
14.5%

30.9%

(136,590) (18.5%)

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

88,464

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

1,813

1,937

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

(3,078)(1,182)PROFIT BEFORE INCOME TAXES .....................................

87,199

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

(24,515)

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

62,684

10.3%

65,3378.8%

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

62,01810.2%

64,7708.7%

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

666

0.1%

567

0.1%

14.3%

91,72812.4%

92,483

12.5%(27,146)

Profit attributable to:Consolidated Statements of Comprehensive Income
Yen (millions)
For the year ended
For the year ended
March 31, 2022
March 31, 2021
62,68465,337through other comprehensive income (loss) ............................

9,072(2,480)Remeasurement of defined benefit plans .................................

953

761

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

10,025(1,719)Exchange differences on translating foreign operations ..........

29,22044,500Total of items that may be reclassified to profit (loss) ................

29,22044,500Total other comprehensive income (loss), net of tax ...................

39,24542,781COMPREHENSIVE INCOME ...................................................

101,929

108,118

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

100,931

107,196

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

998

922

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

Items that will not be reclassified to profit (loss)
Equity financial goods measured at fair value

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, 2021
Equity attributable to owners of the parent
SharecapitalBalance at April 1, 2020

CapitalSurplus23,80545,531

Profit for the period

Retainedearnings

TreasurysharesOther
componentsof equity

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

Comprehensive income--

Dividends paid

62,018-

Share-based paymenttransaction

28

Transfer from othercomponents of equity toretained earnings

Balance at March 31, 2021

575,748

62,018666

62,68438,91338,913332

39,24538,913

100,931998

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

(4)

(4)

(4)

15

43

43

(953)

-

-

953

Total amounts of transactions
with owners-

28(13,437)

11

(953)

(14,351)-(14,351)

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

11,390657,855

5,471

663,326

Yen (millions)
For the year ended March 31, 2022
Equity attributable to owners of the parent
Share
CapitalBalance at April 1, 2021

CapitalSurplus23,80545,559Profit for the period

Retainedearnings

TreasurysharesOther
componentsof equity

588,644(11,543)

11,390--

Dividends paid

64,770-Share-based paymenttransaction

26

Transfer from othercomponents of equity toretained earnings
Total amounts of transactions
with owners
Balance at March 31, 2022

Total

Total
equity5,471

663,326

64,770567

65,33742,42642,426355

42,78142,426

107,196922

108,118(18,736)(207)(18,943)(18,736)

Purchase of treasury shares

NonControllinginterest

657,855

64,770

Other comprehensive income
Comprehensive income

Total
equity4,473(14,390)

Purchase of treasury shares

Total
571,275

62,018Other comprehensive income

NonControllinginterest

(7)

(7)

(7)

10

36

36

(5,899)

-

-

5,899
-

26

(12,837)

3(5,899)(18,707)(207)(18,914)23,80545,585640,577(11,540)

47,917746,3446,186

752,530(4) Consolidated Statements of Cash Flows
English Translation of "KESSAN TANSHIN" originally issued in Japanese

11Yen (millions)
For the year ended
For the year ended
March 31, 2022
March 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:Profit.....................................................................................................

62,68465,337

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

16,491

21,002

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

24,51527,146

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

1,265

(755)

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

817

483

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

(21,481)(14,153)

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

(35,990)(175,557)

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

21,868

1,295

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

(152)

(361)

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

1,633(10,473)

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

8,178

9,187

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

79,828(76,849)

Dividends received ...............................................................................

688

751

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

730

417

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

(356)

(673)

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

(16,353)(27,306)

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

64,537(103,660)

Purchase of non-current assets .............................................................

(49,855)(59,937)

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

136

725

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

(3,740)(200)

Proceeds from sale and redemption of investments .............................

8,157

18,065

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

(46,829)(9,187)

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

48,792

22,328Other.....................................................................................................

426

315

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

(42,913)(27,891)

Net increase (decrease) in short-term borrowings ..............................

(5,666)75,169Purchase and sales of treasury shares, net ............................................

(4)

(7)

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

(14,390)(18,736)

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

(2,998)(3,611)Other.....................................................................................................

22

(189)

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

(23,036)

52,626

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

6,613

1,342

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

5,201(77,583)

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

143,439

148,640

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

148,640

71,057

CASH FLOWS FROM INVESTING ACTIVITIES:CASH FLOWS FROM FINANCING ACTIVITIES:English Translation of "KESSAN TANSHIN" originally issued in Japanese12(5) Notes to Consolidated Financial Statements
Notes on the assumptions for a going concern: None

English Translation of "KESSAN TANSHIN" originally issued in Japanese13

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

Eliminations

Consolidated

74,533568(530,317)

608,331-

1,063,547

75,101(530,317)

608,331

85,342

4,358(1,236)

88,464

Eliminations

Consolidated

Japan

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

131,329
247,385

284,419
12,597

92,812
4,220

25,238265,547

533,798
529,749

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

378,714

297,016

97,032

290,785

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

31,102

29,837

3,681

20,722

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

Japan

EuropeYen (millions)
For the year ended March 31, 2022
North
Asia
Total
Other area
America(2) Inter-segment ........

141,244395,550

354,561
20,693

114,635
5,732

30,823413,010641,263
834,985

97,997473(835,458)

739,260-

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

536,794375,254

120,367

443,833

1,476,248

98,470(835,458)

739,260

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

31,12739,399803

19,40890,7379,879(8,888)91,728

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

Revenue by product categories
Yen (millions)
For the year ended
For the year ended
March 31, 2021
March 31, 2022
Composition ratio

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

504,169
104,162
608,331

82.9%
17.1%
100.0%

Increase(Decrease)

Composition ratio

611,655
127,605739,260

82.7%
17.3%
100.0%

(%)

21.3%
22.5%
21.5%

Information per share
Yen

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

As ofMarch 31, 2021
2,422.80

As ofMarch 31, 2022
2,748.64
Yen

For the year ended
March 31, 2021
Profit attributable to owners of the parent per share(Basic) .............................................................................

228.41For the year ended
March 31, 2022
238.54

Notes:
1. Profit attributable to owners of the parent per share (Basic) is calculated on the basis of the average number of shares
outstanding during the year. Average number of shares outstanding is as follows:
For the year ended March 31, 2021: 271,524,393
For the year ended March 31, 2022: 271,530,966
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, 2022
March 31, 2021
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 ...............................................................................

(%)

(%)

608,331 23.5
113,048 12.3
495,283 26.4
88,46438.1
87,199 32.1
62,018 29.9
228.41
18,624739,260 21.5
118,050
4.4
621,210 25.4
91,728
3.7
92,483
6.1
64,7704.4
238.54
20,233
Yen (millions)
For the year ending
March 31, 2023
(Forecast)(%)

Revenue ....................................................................................................................................
740,000
0.1
Domestic ..............................................................................................................................
120,000
1.7
Overseas...............................................................................................................................
620,000(0.2)
Operating profit ........................................................................................................................
85,000(7.3)
Profit before income taxes ........................................................................................................
83,000(10.3)
Profit attributable to owners of the parent ................................................................................
59,000(8.9)
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, 2023”
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 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, 2022
March 31, 2021
(%)

(%)

Japan ................................................................
113,04812.3
118,050
4.4
Europe .............................................................
282,72530.8
352,470
24.7
90,94525.8
112,248
23.4
North America .................................................
Asia .................................................................
39,331
0.9
49,196
25.1
Central and South America..............................
29,403
13.1
41,76542.0
41,30445.3
51,57924.9
Oceania............................................................
The Middle East and Africa.............................
11,575
16.1
13,952
20.5
608,33123.5
739,260
21.5
Total.................................................................
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 previous year.
(3) Exchange Rates
Yen
For the year ended
March 31, 2021

For the year ended
March 31, 2022

For the year ending
March 31, 2023
(Forecast)

106.10123.7615.68

112.39130.55
17.51

120
130
18.9

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

(4) Production Ratio (unit basis)

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

For the year ended
March 31, 2021

For the year ended
March 31, 2022

Composition ratio

Composition ratio

7.7%
92.3%

7.0%
93.0%

(5) Consolidated Capital Expenditures, Depreciation and Amortization, and R&D costs
Yen (millions)
For the year
For the year ended
ending
For the year ended
March 31, 2022
March 31, 2023
March 31, 2021
(Forecast)
Capital expenditures ...................
Depreciation and amortization ...
R&D costs ..................................

49,855
13,881
12,78359,937
17,63914,145English Translation of "KESSAN TANSHIN" originally issued in Japanese

40,00020,00015,00016