Makita Corporation
Consolidated Financial Results
for the six months
ended September 30, 2022
(IFRS Financial Information)(English translation of "KESSAN TANSHIN"
originally issued in Japanese)

CONSOLIDATED FINANCIAL RESULTS
FOR THE SIX MONTHS ENDED SEPTEMBER 30, 2022 (Unaudited)
October 28, 2022

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

1. Summary operating results of the six months ended September 30, 2022 (From April 1, 2022 toSeptember 30, 2022)(1) CONSOLIDATED OPERATING RESULTS
Yen (millions)
For the six months ended
For the six months ended
September 30, 2021
September 30, 2022(%)(%)
Revenue ................................................................
364,23028.6
391,318
7.4
Operating profit ....................................................
52,16036.7
21,919(58.0)
Profit before income taxes ....................................
52,60037.4
18,237(65.3)
Profit .....................................................................
38,16539.5
10,841(71.6)
Profit attributable to owners of the parent ............
37,82039.3
11,078(70.7)
Comprehensive income ........................................
42,19819.8
58,241
38.0
Yen
Profit attributable toowners of the parent per share(Basic)..................................................................
139.2940.80(Diluted) ..............................................................
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 corresponding period of 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 theparent to total assets (%) .......................................

Yen (millions)
As of March 31, 2022
As of September 30, 2022
1,007,497
1,155,694
752,530
793,952
787,646746,344
74.1%

68.2%

Note: Amounts of less than one million yen have been rounded.

2. Dividend Information
Yen
For the year ended
March 31, 2022
Cash dividend per share:
Interim .................................................................
Year-end ..............................................................
Total ....................................................................

10.00
62.00
72.00

For the year ending
March 31, 2023
(Forecast)
10.00(Note)(Note)

Notes:
1. The forecast for cash dividend announced on April 27, 2022 has not been revised.
2. The projected amount of dividends for the year ending March 31, 2023 has not been determined yet. For further details, refer
to “Explanation regarding proper use of business forecasts, and other significant matters” on page 2.

English translation of "KESSAN TANSHIN" originally issued in Japanese

13. Consolidated Financial Performance Forecast for the year ending March 31, 2023 (From April 1, 2022 toMarch 31, 2023)
Yen (millions)
For the year ending
March 31, 2023(%)
Revenue..................................................................................................................
740,000
0.1
Operating profit ......................................................................................................
40,000(56.4)
Profit before income taxes .....................................................................................
34,000(63.2)
Profit attributable to owners of the parent ..............................................................
22,000(66.0)
Yen
Profit attributable to owners of the parent per share (Basic) ..................................
81.02
Notes:
1. Changes of the forecasts from the most recent disclosure: Yes
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 against the previous year.

4. Other(1) Changes in important subsidiaries during the period (Changes in specified subsidiaries accompanied by changes inscope of consolidation during the quarter): 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 shares):
2. Number of treasury shares:
3. Average number of shares outstanding:

As of September 30, 2022:
As of March 31, 2022:
As of September 30, 2022:
As of March 31, 2022:
For the six months ended
September 30, 2022:
For the six months ended
September 30, 2021:

280,017,520
280,017,520
8,475,653
8,485,061
271,536,353
271,529,324

This consolidated financial report is not subject to audit procedures by certified public accountants or an auditing firm.
Explanation regarding proper use of business forecasts, and other significant matters
1. 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. Regarding the assumptions for the forecasts and other matters, refer to “SUPPLEMENTINFORMATION (CONSOLIDATED)”, “(3). Outlook for the fiscal year ending March 31, 2023” on page 4.
2.

Makita's basic policy on the distribution of profits is to maintain a consolidated dividend payout ratio of 30% or greater,
with a lower limit on annual cash dividends of 10 yen per share. However, in the event special circumstances arise,computation of the amount of dividends will be based on profit attributable to owners of the parent per share after
certain adjustments.
The Board of Directors plans to meet in April 2023 for a report on earnings for the year ending March 31, 2023. At thetime, in accordance with the basic policy regarding profit distribution mentioned above, the Board of Directors plans topropose a dividend equivalent to at least 30% of profit attributable to owners of the parent. The Board of Directors willsubmit this proposal to the General Meeting of Shareholders scheduled for June 2023.
The consolidated dividend payout ratio is calculated as annual dividends per share divided by consolidated profit
attributable to owners of the parent per share (after adjustments for special circumstances) and multiplied by 100.

English translation of "KESSAN TANSHIN" originally issued in Japanese

2

SUPPLEMENT INFORMATION (CONSOLIDATED)

1. Overview of operating results(1) Overview of operating results of the six months ended September 30, 2022
Looking at the international economic situation during the six-month period (the “period”) ended September 30, 2022,
the outlook remains uncertain due to such factors as the growing tension in Ukraine and the accompanying sharp rise inenergy prices and rising prices due to raw material shortages, amid differences between countries regarding their responses
to the COVID-19 pandemic.
In this situation, the Makita Group focused on expanding its lineup of cordless products including power tools andoutdoor power equipment in the “40Vmax Lithium-ion Battery” series.
With respect to production, we worked on building a production system and strengthening management functions to
flexibly address changes in the demand environment and geopolitical risks, and improve the efficiency of the Group as awhole.
We also work to increase the level of the community-based and customer-oriented service framework and deepen anddevelop the market centered on cordless products.
Our consolidated revenue for this period increased 7.4% year on year to 391,318 million yen due to strong sales inJapan, Oceania, and Asia, as well as the impact of the yen’s depreciation against local currencies. In terms of profit,
operating profit decreased by 58.0% year on year to 21,919 million yen (an operating profit ratio: 5.6%) due to aworsening cost ratio as a result of the impact of foreign exchange rates and soaring raw material prices, along with increasein Selling, general, administrative and others expense. Profit before income taxes decreased by 65.3% to 18,237 million
yen (profit before income taxes ratio: 4.7%) and profit attributable to owners of the parent decreased by 70.7% to 11,078
million yen (ratio of profit attributable to owners of the parent: 2.8%).
Revenue results by region were as follows:
Makita's consolidated revenue by geographic area is based on the customer’s location for the periods presented.
Accordingly, it differs from “Segment Information” on page 10.
In Japan, as stay-at-home demand subsided, we mainly secured sales of cordless outdoor power equipment and the new
XGT series of products, resulting in a 2.0% increase year on year to 61,823 million yen.
In Europe, as sales decreased due to deteriorating business confidence caused by high inflation, monetary tightening,
and uncertainty concerning energy supply, revenue decreased 0.3% year on year to 177,380 million yen.
In North America, while sales decreased as stay-at-home demand subsided and monetary tightening created warinessof a recession, revenue increased 19.9% year on year to 62,680 million yen due to the depreciation of the yen against local
currencies.
In Asia, despite the impact of lockdowns in China, the economy is on a recovery track in countries and regions where
deregulation is progressing, resulting in a 29.5% year on year increase to 29,042 million yen.
In Central and South America, while sales decreased due to accelerating inflation and increased uncertainty concerning
the future in each country, revenue increased 15.0% year on year to 24,394 million yen due to the depreciation of the yen
against local currencies.
In Oceania, despite negative economic factors such as surging construction material prices and monetary tightening,strong sales of new products and outdoor power equipment resulted in a 25.2% year on year increase to 29,136 million yen.
In the Middle East and Africa, despite continuing unstable political and economic conditions, revenue increased 3.5%
year on year to 6,863 million yen due to the depreciation of the yen against local currencies.
(Efforts for 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. We have identified contributing
to a decarbonized society as a material issue that should be prioritized and are stepping up our efforts.
Therefore, the Group is currently working on the realization of a decarbonized society by focusing on cordless outdoor
power equipment that does not emit exhaust gases during use as the next pillar of our future business in addition to power
tools. In addition, with the goal of reducing our greenhouse gas (GHG) emissions, we have set targets for reducing GHG
emissions from our business activities (Scope 1 and 2) by 50% by FY2030 from the FY2020 level and to net zero by
FY2040, and reducing GHG emissions from the entire supply chain (Scope 3) to net zero by FY2050. In FY2021, Scope 1
English translation of "KESSAN TANSHIN" originally issued in Japanese3and 2 GHG emissions decreased 12.0% year on year to 78,899 t-CO2, and emissions per unit of revenue decreased 27.2%
to 10.7 t-CO2 per 100 million yen. However, Scope 3 GHG emissions increased 20.9% to 7,264,652 t-CO2 due to anincrease in the sales volume and the production volume, and emissions per unit of revenue decreased 0.5% to 982.6 t-CO2
per 100 million yen.
In order to achieve the GHG emissions reduction targets, we will steadily continue promoting the utilization of renewableenergy in addition to improving energy efficiency and shifting to electric commercial vehicles in our business activities.
(2) Overview of financial situation as of September 30, 2022
Total assets increased 148,197 million yen from the end of the previous fiscal year to 1,155,694 million yen. This
increase was mainly due to the rise in “Inventories.”
Total liabilities increased 106,775 million yen from the end of the previous fiscal year to 361,742 million yen. This
increase was mainly due to the rise in “Borrowings.”
Total equity increased 41,422 million yen from the end of the previous fiscal year to 793,952 million yen. This
increase was mainly due to the change in exchange differences on translating foreign operations included in “Other
components of equity.”(3) Outlook for the fiscal year ending March 31, 2023
The cooling down of the architecture and construction markets due to global inflation and monetary tightening and theconsumption slump slowed down local sales in the West and other overseas markets during the second quarter cumulative
period. At the same time, raw material procurement costs and the sales, general, and administrative expenses exceeded theterm-beginning forecast, and the foreign exchange rates also pushed profit down below the term-end forecast.
Regarding the full-year consolidated financial results, the term-beginning revenue forecast has been left unchanged asoverseas revenue increased due to the depreciation of the yen, despite the continuing severe sales environments both inJapan and overseas. However, profit is expected to be below the term-beginning forecast, since it is expected that sales
volume will continue to decrease and various costs will continue to increase.
Revised forecast for consolidated performance of the fiscal year ending March 31, 2023 (From April 1, 2022 toMarch 31, 2023)
Yen (millions)
Yen
ProfitProfitattributable to
Revenue
Operating
Profit before attributableowners of the
profitincome taxes to owners ofparent per
the parent
share (Basic)
Forecast announced previously (A) ......
Revised forecast (B) ............................
Changes (B-A) ......................................
Percentage change ................................

740,000
740,000
0
0.0%

85,00040,000(45,000)(52.9%)

83,00034,000(49,000)(59.0%)

59,00022,000(37,000)(62.7%)

217.2981.02-

Actual results for the previous year
ended March 31, 2022 ..........................

739,260

91,72892,48364,770238.54

The assumed exchange rates applied in the forecast calculation are as follows;[Preconditions]
The above forecast is based on the assumption of exchange rates of 140 yen to the U.S. dollar, 135 yen to the euro
and 20.0 yen to the renminbi for the remaining six months period ending March 31, 2023.
The above forecast is based on the assumption of exchange rates of 137 yen to the U.S. dollar, 137 yen to the euro
and 20.0 yen to the renminbi for the year ending March 31, 2023.
[Reference]
The exchange rates for previously announced forecasts that we announced on April 27, 2022 were 120 yen to the U.S.
dollar, 130 yen to the euro and 18.9 yen to the renminbi for the year ending March 31, 2023.
(Note)
The above forecast 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 significantly from the forecast provided above.

English translation of "KESSAN TANSHIN" originally issued in Japanese42. Consolidated Financial Statements (Unaudited)(1) Consolidated Statement of Financial Position
Yen (millions)
As of September 30,
As of March 31, 2022
2022
Composition ratio

Composition ratio

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

71,057

114,074

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

117,541

114,866

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

475,128

551,898

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

5,281

4,638

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

15,952

21,278

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

684,95968.0%

806,754

69.8%

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

243,636

264,588

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

10,085

10,459Other financial assets ......................................

41,54541,190Retirement benefit asset ..................................

11,286

11,144

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

12,23818,026

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

3,748

3,533

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

322,538

32.0%

348,940

30.2%

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

1,007,497

100.0%

1,155,694

100.0%English translation of "KESSAN TANSHIN" originally issued in Japanese5

Yen (millions)
As of September 30,
As of March 31, 2022
2022
Composition ratio

Composition ratio

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

67,274

69,155

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

79,674

179,818

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

9,888

16,248

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

14,767

8,274

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

4,381

4,951

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

48,18147,331

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

224,16522.2%

325,777

28.2%

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

3,160

3,321

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

13,954

16,599Provisions .......................................................

1,595

1,727

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

11,888

14,118Other non-current liabilities ............................

205

200

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

30,802

3.1%

35,965

3.1%

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

254,96725.3%

361,74231.3%

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

23,80523,805

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

45,58545,589Retained earnings ............................................

640,577

633,386

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

(11,540)(11,528)

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

47,917

96,394

Total equity attributable to owners of the parent....

746,34474.1%

787,646

68.2%

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

6,186

0.6%

6,306

0.5%

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

752,530

74.7%

793,952

68.7%

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

1,007,497

100.0%

1,155,694

100.0%English translation of "KESSAN TANSHIN" originally issued in Japanese6(2) Consolidated Statements of Profit or Loss and Consolidated Statements of Comprehensive Income
Consolidated Statements of Profit or Loss
Yen (millions)
For the six months
For the six months
ended September 30,
ended September 30,
2022
2021
Composition ratio

Composition ratio

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

364,230 100.0%

391,318 100.0%

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

(245,536) (67.4%)(288,622) (73.8%)

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

118,694

102,696

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

(66,534) (18.3%)(80,777) (20.6%)

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

52,16021,919Financial income......................................................................

1,217

1,068

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

(777)(4,750)PROFIT BEFORE INCOME TAXES .....................................

52,600

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

(14,435)

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

38,165

10.5%

10,841

2.8%

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

37,82010.4%

11,0782.8%

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

345

0.1%

(237)

(0.0%)

32.6%
14.3%

14.4%

26.2%
5.6%

18,2374.7%(7,396)

Profit attributable to:Consolidated Statements of Comprehensive Income
Yen (millions)
For the six months
For the six months
ended September 30,
ended September 30,
2022
2021
38,165

10,841through other comprehensive income (loss) ............................

(576)(1,629)Total of items that will not be reclassified to profit (loss) ...........

(576)(1,629)Exchange differences on translating foreign operations ..........

4,609

49,029Total of items that may be reclassified to profit (loss) .................

4,609

49,029Total of other comprehensive income (loss), net of tax ...............

4,033

47,400COMPREHENSIVE INCOME ...................................................

42,19858,241

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

41,80858,121

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

390

120

PROFIT .......................................................................................
OTHER COMPREHENSIVE INCOME, NET OF TAX

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

Items that may be reclassified to profit or loss

Comprehensive income attributable to:English translation of "KESSAN TANSHIN" originally issued in Japanese7(3) Consolidated Statement of Changes in Equity
Yen (millions)
For the six months ended September 30, 2021
Equity attributable to owners of the parent
SharecapitalBalance at April 1, 2021

CapitalSurplus23,80545,559Profit for the period

Retainedearnings

TreasurysharesOther
componentsof equity

588,644(11,543)

11,390Comprehensive income--

Dividends paid

37,820-5,471

663,326

37,820345

38,165

3,988

3,988

45

4,033

3,988

41,808390

42,198(16,020)

Purchase of treasury shares
Share-based paymenttransaction(16,020)(16,020)

(5)

(5)

(5)

9

19

19

(3,835)--10

Transfer from othercomponents of equity toretained earnings

Total
equity657,855

37,820

Other comprehensive income

NonControllinginterest

Total

3,835

Total amounts of transactions
with owners-

10(12,185)

4(3,835)(16,006)-(16,006)

Balance at September 30, 2021

23,80545,569614,279(11,539)

11,543

683,657

5,861

689,518

Yen (millions)
For the six months ended September 30, 2022
Equity attributable to owners of the parent
SharecapitalBalance at April 1, 2022

CapitalSurplus23,80545,585

Profit for the period

Retainedearnings

TreasurysharesOther
componentsof equity

640,577(11,540)

47,917

Comprehensive income--

Dividends paid

11,078

-

Total

Total
equity746,3446,186

752,530

11,078(237)

10,84147,04347,043357

47,40047,043

58,121

120

58,241

11,078Other comprehensive income

NonControllinginterest(16,835)(16,835)(16,835)

Purchase of treasury shares

(1)

(1)

(1)

Disposal of treasury shares

0

0

0

13

17

17

1,434

-

-

Share-based paymenttransaction

4

Transfer from othercomponents of equity toretained earnings(1,434)

Total amounts of transactions
with owners-

4(18,269)

12

1,434

(16,819)-(16,819)

Balance at September 30, 2022

23,80545,589633,386(11,528)

96,394

787,646

6,306

793,952

English translation of "KESSAN TANSHIN" originally issued in Japanese8(4) Consolidated Statements of Cash Flows
Yen (millions)
For the six months
For the six months
ended September 30,
ended September 30,
2022
2021
CASH FLOWS FROM OPERATING ACTIVITIES:Profit ....................................................................................................

38,165

10,841

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

9,768

11,979

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

14,435

7,396

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

(440)

3,682

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

(48)

314

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

(3,299)7,089

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

(75,819)(35,453)

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

1,465

1,598

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

104

158

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

(1,104)-

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

466

2,927

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

(16,307)

10,531Dividends received ..............................................................................

455

460

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

233

614

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

(205)

(727)

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

(13,927)(21,130)

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

(29,751)(10,252)

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

(28,158)(22,996)

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

110

565

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

(243)

(0)

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

13,184803

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

(7,943)(1,312)

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

20,285

2,589

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

12

(83)

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

(2,753)(20,434)

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

4,294

97,685Purchase and sales of treasury shares, net ...........................................

(5)

(1)

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

(16,020)(16,835)

Repayments of lease liabilities ............................................................

(1,855)(2,243)

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

128

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

(13,585)

78,634

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

1,938(4,931)

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

(44,151)

43,017

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD ...

148,640

71,057

CASH AND CASH EQUIVALENTS, END OF PERIOD .................

104,489

114,074

CASH FLOWS FROM INVESTING ACTIVITIES:CASH FLOWS FROM FINANCING ACTIVITIES:English translation of "KESSAN TANSHIN" originally issued in Japanese9(5) Notes to Consolidated Financial Statements
Notes on the assumptions for a going concern: None
Segment Information
Yen (millions)
For the six months ended September 30, 2021
North
ElimiAsia
Total
Other
Americanations

Consolidated

Japan

EuropeInter-segment ............

71,193
173,227

179,275
10,01853,411
3,082

14,274
188,559

318,153374,886

46,077249(375,135)

364,230-

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

244,420

189,293

56,493202,833

693,039

46,326(375,135)

364,230

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

17,74022,781660

8,624

49,805

5,039(2,684)

52,160Yen (millions)
For the six months ended September 30, 2022
North
ElimiAsia
Total
Other
Americanations

Consolidated

Revenue:
Externalcustomers ..................

Japan

EuropeInter-segment ............

74,411
178,024

178,771
7,415

64,0402,230

18,626
184,088335,848
371,757

55,470274(372,031)

391,318-

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

252,435

186,186

66,270202,714707,605

55,744(372,031)

391,318

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

4,919

9,697

411

19,56934,596

3,390(16,067)

21,919

Revenue:
Externalcustomers ..................

English translation of "KESSAN TANSHIN" originally issued in Japanese

10

3.

SUPPORT DOCUMENTATION (CONSOLIDATED)(1) Consolidated Financial Results and Forecast
Yen (millions)
For the six months
For the six months
ended September 30,
ended September 30,
2022
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 ...............................................................................

(%)

(%)

364,230 28.6
60,611
8.7
303,619 33.5
52,160 36.7
52,600 37.4
37,820 39.3
139.2919,592

391,318
7.4
61,8232.0
329,495
8.5
21,919 (58.0)
18,237 (65.3)
11,078 (70.7)
40.80
19,794

Yen (millions)
For the year ending
For the year ended
March 31, 2023
March 31, 2022
(Forecast)(%)

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 ........................................................................

739,260 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(%)

740,000 0.1
120,000 1.7
620,000 (0.2)
40,000 (56.4)
34,000 (63.2)
22,000 (66.0)
81.02-

Notes:
1. Please refer to 1. Overview of operating results Section 3 “Outlook for the fiscal year ending March 31, 2023” on page 4.
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 Japanese11(2) Consolidated Revenue by Geographic Area

Japan ................................................................
Europe..............................................................
North America .................................................
Asia ..................................................................
Central and South America ..............................
Oceania ............................................................
The Middle East and Africa .............................
Total .................................................................
Note:

For the six months
ended September 30,
2021

Yen (millions)
For the six months
ended September 30,
2022

(%)

(%)

60,611
177,829
52,25922,43021,20523,265
6,631
364,230

8.7
35.9
25.6
19.5
68.2
21.4
52.7
28.6

61,823
177,380
62,68029,042
24,394
29,136
6,863
391,318

2.0
(0.3)
19.9
29.5
15.0
25.2
3.5
7.4

For the year ended
March 31, 2022(%)

118,050
352,470
112,248
49,196
41,76551,57913,952739,260

4.4
24.7
23.4
25.1
42.0
24.9
20.5
21.5

The table above sets forth Makita's consolidated revenue by geographic area based on the customer’s location for the periods
presented. Accordingly, it differs from “Segment Information” on page 10.
The table shows the changes in the percentage ratio of revenue compared to the corresponding period of the previous year.

(3) Exchange Rates
Yen
For the six
months ended
September 30,
2021

For the six
months ended
September 30,
2022

109.81130.8816.99

134.03138.7619.89

112.39130.5517.51

For the six
months ended
September 30, 2021

For the six
months ended
September 30, 2022

Composition ratio

Composition ratio

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

For the year
ended March 31,2022

For the year
ending March
31, 2023(Forecast)
137
137
20.0

(4) Production Ratio (unit basis)

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

7.5%
92.5%

7.6%
92.4%

For the year
ended
March 31, 2022
Composition ratio

7.0%
93.0%

(5) Consolidated Capital Expenditures, Depreciation and Amortization, and R&D costs
For the six
months ended
September 30,
2021
Capital expenditures ..................
Depreciation and amortization ...
R&D costs .................................

28,1588,127
6,905

Yen (millions)
For the six
For the year
months ended
ended
September 30,
March 31, 2022
2022
22,9969,900
7,515

English translation of "KESSAN TANSHIN" originally issued in Japanese

59,937
17,63914,145For the year
endingMarch 31, 2023
(Forecast)
40,00020,00015,00012