Makita Corporation
Consolidated Financial Results
for the three months
ended June 30, 2013
(U.S. GAAP Financial Information)(English translation of "KESSAN TANSHIN"
originally issued in Japanese)

CONSOLIDATED FINANCIAL RESULTS
FOR THE THREE MONTHS ENDED JUNE 30, 2013 (Unaudited)
July 31, 2013

Makita Corporation
Stock code: 6586
URL: http://www.makita.co.jp/
Shiro Hori, President, Representative Director

1. Summary operating results of the three months ended June 30, 2013 (From April 1, 2013 to June 30, 2013)(1) CONSOLIDATED OPERATING RESULTS
Yen (millions)
For the three months ended
For the three months ended
June 30, 2012
June 30, 2013(%)(%)
Net sales................................................................
74,942(1.5)
90,758
21.1
Operating income .................................................
11,979(7.9)
10,671（10.9）
Income before income taxes .................................
10,153(24.5)
11,117
9.5
Net income attributable to Makita Corporation .......
6,991(26.1)
7,815
11.8
Comprehensive income (loss) .............................
(8,101)－
21,838－Yen
Earning per share (Basic)
Net income attributable to
Makita Corporation common shareholders ..............
51.50
57.57
Notes:
1. Amounts of less than one million yen have been rounded.
2. The table above shows the changes in the percentage ratio of net sales, operating income, income before income
taxes, and net income attributable to Makita Corporation, and comprehensive income (loss) against thecorresponding period of the previous year.
(2) SELECTED CONSOLIDATED FINANCIAL POSITION

Total assets ............................................................
Total equity ...........................................................
Total Makita Corporation shareholders' equity .....
Total Makita Corporation shareholders' equity
ratio to total assets (%) .........................................

Yen (millions)
As of March 31, 2013
As of June 30, 2013
440,974
455,195
376,332
390,834
373,543
387,807
84.7%

85.2%

2. Dividend Information
Yen
For the year ended
March 31, 2013

For the year ending
March 31, 2014
(Forecast)

Cash dividend per share:
Interim .................................................................
15.00
18.00
Year-end ..............................................................
54.00(Note)
Total ....................................................................
69.00(Note)
Note:
1. The forecast for cash dividend announced on April 26, 2013 has not been revised.
2. The projected amount of dividends for the year ending March 31, 2014 has not been determined yet. For further
details, refer to “Explanation regarding proper use of business forecasts, and other significant matters” on page 3.

English translation of "KESSAN TANSHIN" originally issued in Japanese

13. Consolidated Financial Performance Forecast for the year ending March 31, 2014 (From April 1, 2013 toMarch 31, 2014)
Yen (millions)
For the six months ending
For the year ending
September 30, 2013
March 31, 2014(%)(%)
Net sales...................................................................
171,000
13.1
345,000
11.4
Operating income ....................................................
26,70011.1
56,000
23.4
Income before income taxes ....................................
27,50021.2
57,50025.8
Net income attributable to Makita Corporation .......
18,40015.9
39,00025.5
Yen
Earning per share (Basic)
Net income attributable to
Makita Corporation common shareholders ..............
135.55287.30Note:
The consolidated financial forecast for the year ending March 31, 2014 has not been revised.
4. Other(Refer to [Qualitative Information and Financial Statements] Section 4 “Other” on page 5.)(1) Changes in important subsidiaries during the period (Changes in specified subsidiaries accompanied by changes inscope of consolidation during the quarter): Not applicable(2) Adoption of simplified accounting methods and accounting methods that are specific to the preparation of quarterly
consolidated financial statements: Yes(3) Changes in accounting policies, procedures and presentation rules applied in the preparation of the quarterly
consolidated financial statements:
1. Changes due to revisions to accounting standards: Yes
2. Changes due to other reasons: Yes(4) 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:

English translation of "KESSAN TANSHIN" originally issued in Japanese

As of June 30, 2013:
As of March 31, 2013:
As of June 30, 2013:
As of March 31, 2013:
For the three months ended
June 30, 2013:
For the three months ended
June 30, 2012:

140,008,760
140,008,760
4,263,838
4,262,833
135,745,421
135,750,299

2

Information regarding quarterly review
This consolidated financial results report is not subject to a quarterly review stipulated under the Financial
Instruments and Exchange Act. As of the release date of this document, the quarterly review under the Financial
Instruments and Exchange Act has not been completed.
Explanation regarding proper use of business forecasts, and other significant matters
1. Regarding the assumptions for the forecasts and other matters, refer to [Qualitative Information and Financial
Statements] Section 3 “Qualitative Information on Consolidated Financial Performance Forecast” on page 5. The
financial forecasts given above are based on information as available at the present time, and include potential risks
and uncertainties. As a consequence of the factors above and other, actual results may vary from the forecasts
provided above.
2.

Makita's basic policy on the distribution of profits is to maintain a consolidated dividend payout ratio of 30% or greater,
with a lower limit on annual cash dividends of 18 yen per share. However, in the event special circumstances arise,computation of the amount of dividends will be based on consolidated net income attributable to Makita Corporation after
certain adjustments.
The Board of Directors plans to meet in April 2014 for a report on earnings for the year ending March 31, 2014. 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 net income attributable to Makita Corporation. The Board of Directors willsubmit this proposal to the General Meeting of Shareholders scheduled for June 2014.
The consolidated dividend payout ratio is calculated as annual dividends per share divided by consolidated net income
attributable to Makita Corporation per share (after adjustments for special circumstances) and multiplied by 100.

English translation of "KESSAN TANSHIN" originally issued in Japanese

3

[Qualitative Information and Financial Statements]
1. Qualitative Information on Consolidated Operating Results
Looking at the global economic situation during the first three-month (the “period”) ended June 30, 2013, theeconomy of Western Europe remained sluggish because of the European debt crisis, and the robustly growing Russian
economy began to show signs of decline. In the United States, although economic recovery was slow, the housing
market showed a steady upturning trend. As for Asia, Chinese economic growth was not as strong as before, thoughother East Asian countries saw steady economic growth. The Japanese economy saw mild recovery on the back ofmonetary easing measures taken by the national government and the Bank of Japan.
Our consolidated net sales for this period increased by 21.1 % to 90,758 million yen compared to the same period of
the previous year. This is due to favorable domestic sales and the appreciation of such major currencies as the US dollar
and the euro against the yen. Operating income decreased by 10.9% to 10,671 million yen (operating income ratio:
11.8%) due to a rise in cost of sales resulting from the significant increase of unrealized income of inventories brought
about by the rapid depreciation of the yen’s value in the period as well as the increase of selling, general, administrative,
and other expenses. Meanwhile, we recorded non-operating income of 446 million yen as compared to thenon-operating loss of 1,826 million yen for the same period of the previous year, due mainly to a decrease in foreignexchange losses. As a result, income before income taxes increased by 9.5% to 11,117 million yen (income before
income taxes ratio: 12.2%) and net income attributable to Makita Corporation shareholders increased by 11.8% to 7,815
million yen (ratio of net income attributable to Makita Corporation shareholders: 8.6%), respectively, from the same
period of the previous year.
Net sales by region are as follows:
Net sales in Japan increased by 7.2% to 14,002 million yen compared to the same period of the previous year. Thiswas because of the continuing favorable sales of lithium-ion battery products, mainly impact drivers.
Net sales in Europe increased by 33.4% to 40,331 million yen compared to the same period of the previous year. Thiswas because sales remained solid in Russia, and the southern European markets finally began to show signs ofbottoming out after experiencing a decline in demand associated with financial uncertainty for some time. Anotherreason is the drastic decline of the yen’s value against the euro as compared to the same period of the previous year.
Net sales in North America increased by 23.5% to 11,936 million yen compared to the same period of the previous
year. This was because the yen exchange rate took a substantial downward turn against the US dollar, in addition tofavorable sales to home improvement retailers.
Net sales in Asia increased by 12.3% to 8,368 million yen compared to the same period of the previous year. This was
because demand remained robust in Southeast Asian countries.
The sales situations in other regions are as follows. Net sales in Central and South America increased by 35.8% to
6,864 million yen thanks to a recovery in demand in this region. Net sales in Oceania increased by 7.2% to 5,009
million yen compared to the same period of the previous year. Meanwhile, net sales in the Middle East and Africa
decreased by 11.4% to 4,248 million yen due to sluggish economic activities associated with political uncertainty.

2. Qualitative Information on Consolidated Financial Position
Total assets increased by 14,221 million yen to 455,195 million yen compared to the end of the previous year. This
increase was mainly due to the yen’s depreciation against other major currencies, which has resulted in an increase of
the yen-denominated value of “Inventories” and “Property, plant, and equipment”.
Total liabilities decreased by 281 million yen to 64,361 million yen from the end of the previous year. This decrease
was mainly attributable to a decrease in “Accrued payroll” and “Income taxes payable”. On the other hand, the decrease
was partially offset by an increase in “Short-term borrowings”.
Total equity increased by 14,502 million yen to 390,834 million yen compared to the end of the previous year. The
main reason for this increase was a change in foreign currency translation adjustment due to the falling yen’s value
against other major currencies.

English translation of "KESSAN TANSHIN" originally issued in Japanese43. Qualitative Information on Consolidated Financial Performance Forecast
We have made no revision to the performance forecast released on April 26, 2013, because of uncertainties in theoutlook of business environment such as exchange rate fluctuations that may substantially affect Makita’s businessresults.
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) Adoption of simplified accounting methods and accounting methods that are specific to the preparation of quarterly
consolidated financial statements:
With regard to the income tax expenses, Makita computes interim income tax expense by multiplying
reasonably estimated annual effective tax rate, which includes the effects of deferred taxes, by year-to-date income
before income taxes for the reporting period.
(3) Changes in accounting principles, procedures and presentations:[Depreciation Method Change]
On April 1, 2013, the depreciation method used by the Corporation and some of its consolidated subsidiaries tocompute the depreciation of property, plant and equipment was changed from the declining-balance method to thestraight-line method.
This change has its basis in the following: through Makita’s efforts to globalize its production, it has establisheda system for mass production at its overseas manufacturing subsidiaries. As a result, we can now regard our plants
in Japan as production centers of mainly high-value-added products that are consistently in demand and so we can
expect the generally stable consumption of the economic benefits of our property, plant and equipment. In view ofthese developments, we decided that the straight-line method is a more realistic and rational way of cost allocation.
Estimated useful lives have also been reevaluated and changed according to the actual status of use.
These changes have caused an increase of 645 million yen in depreciation cost during the period, and respective
decreases of 345 million yen and 2.54 yen in net income and in earning per share net income attributable to Makita
Corporation common shareholders.
[Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income]
In February 2013, FASB issued ASU 2013-02 which requires entities to provide information about the amounts
reclassified out of accumulated other comprehensive income by component, and to present, either on the face ofthe statement where net income is presented or in the notes, significant amounts reclassified out of accumulated
other comprehensive income by the respective line items of net income. Makita will adopt this amended guidancefrom the quarter beginning April 1, 2013, and does not expect the adoption of this guidance to have a material
impact on Makita’s consolidated results of operations, financial condition and cash flows.

English translation of "KESSAN TANSHIN" originally issued in Japanese

55. Consolidated Financial Statements (Unaudited)(1) Consolidated Balance Sheets
Yen (millions)
As of March 31, 2013
As of June 30, 2013
Composition ratio

Composition ratio

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

62,283

79,172Time deposits ....................................................................

13,262

10,517

Short-term investments .....................................................

38,06024,002

Notes..............................................................................

1,398

1,741

Accounts ........................................................................

53,58355,292Less- Allowance for doubtful receivables .....................

(899)

(888)

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

138,953

146,397

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

5,533

5,040

Prepaid expenses and other current assets ........................

11,102

13,885

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

323,275

Trade receivables-

73.3%

335,158

73.6%

PROPERTY, PLANT AND EQUIPMENT, AT COST:
Land ..................................................................................

22,71022,762

Buildings and improvements ............................................

84,48286,306

Machinery and equipment .................................................

80,484

83,088Construction in progress ...................................................

3,349

4,693

Sub total ........................................................................

191,025

196,849

Less- Accumulated depreciation and amortization ...........

(104,740)(108,582)

Total net property, plant and equipment.........................

86,285

19.6%

88,267

19.4%

INVESTMENTS AND OTHER ASSETS:
Investments .......................................................................

18,461

18,658Goodwill ...........................................................................

721

721

Other intangible assets, net ...............................................

4,549

4,572

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

961

649

Other assets .......................................................................

6,722

7,170

Total investments and other assets .................................

31,414

7.1%

31,770

7.0%

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

440,974

100.0%

455,195

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

6Yen (millions)
As of March 31, 2013
As of June 30, 2013
Composition ratio

Composition ratio

LIABILITIESCURRENT LIABILITIES:
Short-term borrowings ......................................................

1,695

3,516

Trade notes and accounts payable .....................................

21,91021,752Other payables ..................................................................

5,556

5,934

Accrued expenses..............................................................

7,148

6,168

Accrued payroll.................................................................

8,295

6,722

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

5,221

3,363

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

129

136

Other liabilities .................................................................

6,371

7,994

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

56,325

12.8%

55,585

12.2%

LONG-TERM LIABILITIES:Long-term indebtedness ....................................................

8

7

Accrued retirement and termination benefits ....................

3,513

3,669

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

3,136

3,869

Other liabilities .................................................................

1,660

1,231

Total long-term liabilities...............................................

8,317

1.9%

8,776

1.9%

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

64,64214.7%

64,361

14.1%

EQUITYMAKITA CORPORATION SHAREHOLDERS’
EQUITY:
Common stock .................................................................

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

45,42145,421

Legal reserve....................................................................

5,669

5,669

Retained earnings.............................................................

338,239

338,724

Accumulated other comprehensive income (loss) ...........

(28,064)(14,279)

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

(11,527)(11,533)

Total Makita Corporation shareholders’ equity....................

373,54384.7%

387,807

85.2%

NONCONTROLLING INTEREST.....................................

2,789

0.6%

3,027

0.7%

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

376,332

85.3%

390,834

85.9%

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

440,974

100.0%

455,195

100.0%

As of March 31, 2013

As of June 30, 2013

Total number of shares authorized .......................................

496,000,000

496,000,000

Number of shares issued.......................................................

140,008,760

140,008,760

Number of shares issued (excluding treasury stock) ............

135,745,927

135,744,922

Number of treasury stock .....................................................

4,262,833

4,263,838

English translation of "KESSAN TANSHIN" originally issued in Japanese7(2) Consolidated Statements of Income
Yen (millions)
For the three months
For the three months
ended June 30, 2012
ended June 30, 2013
Composition ratio

Composition ratio

74,942 100.0%

90,758 100.0%

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

46,03461.4%

60,472

66.6%

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

28,90838.6%

30,286

33.4%

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

16,92922.6%

19,615

21.6%

OPERATING INCOME ..............................................................

11,97916.0%

10,671

11.8%

NET SALES ................................................................................

OTHER INCOME (EXPENSE):
Interest and dividend income ...................................................

437

621

Interest expense ........................................................................

(83)

(47)

Exchange gains (losses)
on foreign currency transactions, net .....................................

(2,176)(714)

Realized gains (losses) on securities, net .................................

(4)

586

Total other income (expense), net .........................................

(1,826)(2.5%)

446

0.4%

INCOME BEFORE INCOME TAXES .......................................

10,153

13.5%

11,117

12.2%

Provision for income taxes:
Current......................................................................................

2,560

2,227

Deferred....................................................................................

586

1,004

Total income tax expense ......................................................

3,146

4.2%

3,231

3.5%

NET INCOME .............................................................................

7,007

9.3%

7,886

8.7%

Less-Net income attributable to the non-controlling interest .......

16

0.0%

71

0.1%

NET INCOME ATTRIBUTABLE TO MAKITA CORPORATION .......

6,991

9.3%

7,815

8.6%

Consolidated Statements of Comprehensive Income
Yen (millions)
For the three months
For the three months
ended June 30, 2012
ended June 30, 2013
7,007

7,886

Foreign currency translation adjustment ..................................

(14,267)

13,132

Unrealized holding gains (losses) on available-for-sale securities ......

(910)

771

Pension liability adjustment .....................................................

69

49

Total other comprehensive income (loss)..............................

(15,108)

13,952COMPREHENSIVE INCOME (LOSS) ......................................

(8,101)

21,838Less-Comprehensive income (loss) attributable to thenon-controlling interest ............................................................

(222)

238

COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE
TO MAKITA CORPORATION ...............................................

(7,879)21,600NET INCOME .............................................................................
OTHER COMPREHENSIVE INCOME (LOSS): ......................

English translation of "KESSAN TANSHIN" originally issued in Japanese8(3)Consolidated Statements of Cash Flows
Yen (millions)
For the three months
For the three months
ended June 30, 2013
ended June 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:Net income
Adjustments to reconcile net income to net cash provided byoperating activities-

7,007

7,886

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

1,754

2,696

Deferred income tax expense (benefit) .........................................

586

1,004

Realized (gains) losses on available-for-sale securities, net .........
Losses (gains) on disposal or sales of property, plant andequipment, net ...............................................................................

4

(586)

29

42

Trade receivables .......................................................................

(183)

(716)

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

(178)

663

Changes in assets and liabilities-

Trade notes and accounts payable and accrued expenses ..........

(4,139)(2,569)

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

(2,686)(3,262)

Accrued retirement and termination benefits .............................

(290)

(388)

Other, net .......................................................................................

(2,012)(1,850)Net cash provided by (used in) operating activities .......................

(108)

2,920

CASH FLOWS FROM INVESTING ACTIVITIES:Capital expenditures, including interest capitalized ............................

(2,200)(3,422)

Purchases of available-for-sale securities ............................................

(1,792)(2,727)Purchases of held-to-maturity securities ..............................................

(1,216)-

Proceeds from sales of available-for-sale securities ............................

5,302

4,169

Proceeds from maturities of available-for-sale securities ....................

-

13,381

Proceeds from maturities of held-to-maturity securities ......................

1,100

1,600

Proceeds from sales of property, plant and equipment ........................

200

292

Investment in term (time) deposit ........................................................

(3,629)(544)

Withdrawal of term (time) deposit.......................................................

7,737

3,883

Other, net .............................................................................................

(416)

(10)

Net cash used in investing activities ..............................................

5,086

16,622-516

CASH FLOWS FROM FINANCING ACTIVITIES:
Additions to (payments on) borrowings with original maturities ofthree months or less, net ......................................................................
Additions to borrowings with original maturities of more than threemonths .................................................................................................
Payments on borrowings with original maturities of more than threemonths .................................................................................................

657

2,048

(635)

(575)

Purchase (sale) of treasury stock, net...................................................

(1)

(6)

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

(7,738)(7,330)

Other, net .............................................................................................

575

604

Net cash used in financing activities ..............................................
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND
CASH EQUIVALENTS ......................................................................

(7,142)(4,743)

288

2,090

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

(1,876)

16,889CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD ...

44,81262,283

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

42,936

79,172English translation of "KESSAN TANSHIN" originally issued in Japanese9(4) Note on the assumptions for a going concern: None
(5) Condensed Operating Segment Information
Yen (millions)
For the three months ended June 30, 2012
North
Asia
Other
Total
America

Eliminations

Consolidated

74,94239,393(39,393)

74,942-

12,728114,335(39,393)

74,942

26,752

10,955102,201(39,238)

62,963

3,489

1,773

12,134(155)

11,979Yen (millions)
For the three months ended June 30, 2013
North
Asia
Other
Total
America

Eliminations

Consolidated

Japan

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

18,506
10,82430,808
1,008

9,600
620

3,314
26,927

12,71414

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

29,33031,816

10,22030,241

Operating expenses .......

26,21828,575

9,701

Operating income (loss)

3,112

3,241

519

Sales:(1) Externalcustomers ...............

Japan

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

19,51914,76940,491
1,039

12,182966

4,300
37,235

14,26643

90,75854,052(54,052)

90,758-

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

34,28841,53013,14841,535

14,309144,810(54,052)

90,758Operating expenses .......

29,734

38,214

12,32536,81813,335130,426(50,339)80,087

Operating income (loss)

4,554

3,316

823

4,717

974

14,384(3,713)

10,671

Sales:(1) Externalcustomers ...............

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

English translation of "KESSAN TANSHIN" originally issued in Japanese

10

SUPPORT DOCUMENTATION (CONSOLIDATED)
1. Consolidated Financial Results and Forecast
Yen (millions)
For the three months
For the three months
ended June 30, 2013
ended June 30, 2012(%)

Net sales.....................................................................................................
Domestic ...............................................................................................
Overseas ................................................................................................
Operating income ......................................................................................
Income before income taxes ......................................................................
Net income attributable to Makita Corporation .........................................
Earning per share (Basic)
Net income attributable to
Makita Corporation common shareholders (Yen) .....................................
Number of Employees ...............................................................................

For the year ended
March 31, 2013

74,942
13,05961,883
11,97910,153
6,991

(1.5)
11.5
(3.9)
(7.9)
(24.5)(26.1)

21.1
7.2
24.0
(10.9)
9.5
11.8

51.50
12,501

57.57
12,480Yen (millions)
For the six months
ending September 30,
2013 (Forecast)

For the year ending
March 31, 2014
(Forecast)(%)

Net sales.............................................................
Domestic .......................................................
Overseas ........................................................
Operating income ..............................................
Income before income taxes ..............................
Net income attributable to
Makita Corporation ............................................
Earning per share (Basic)(%)

90,75814,00276,756
10,671
11,117
7,815

(%)

(%)

309,630
56,555
253,075
45,36645,691

4.7
6.4
4.3
(6.5)
(2.7)

171,000 13.1
27,500 1.1
143,500 15.7
26,700 11.1
27,500 21.2

345,000 11.4
57,000 0.8
288,000 13.8
56,000 23.4
57,500 25.8

31,076(4.4)

18,400 15.9

39,000 25.5

Net income attributable to Makita Corporation

228.92135.55287.30common shareholders (Yen) ..............................
12,680
Number of Employees .......................................
Notes:
1. The table above shows the changes in the percentage ratio of Net sales, Operating income, Income before
income taxes, and Net income attributable to Makita Corporation against the corresponding period of theprevious year.
2. Please refer to [Qualitative Information and Financial Statements] Section 3 “Qualitative Information on
Consolidated Financial Performance Forecast” on page 5.

English translation of "KESSAN TANSHIN" originally issued in Japanese112. Consolidated Net Sales by Geographic Area
For the three months
ended June 30, 2012

Yen (millions)
For the three months
ended June 30, 2013

For the year ended
March 31, 2013

(%)

(%)

(%)

Japan ................................................................
13,05911.5
14,002
7.2
56,555
6.4
Europe..............................................................
30,238(7.4)
40,331
33.4
125,024
1.4
North America .................................................
9,668
(1.5)
11,93623.5
41,483 10.7
8,368
12.3
29,106
11.9
Asia ..................................................................
7,451
2.8
Other regions ...................................................
14,526(0.8)
16,121
11.0
57,462
3.0
Central and South America ........................
5,056 (16.7)
6,864
35.8
22,919
(1.9)
5,009
7.2
18,848
6.0
Oceania ......................................................
4,674
(1.3)
The Middle East and Africa .......................
4,796
25.1
4,248
(11.4)
15,695
7.2
Total .................................................................
74,942(1.5)
90,75821.1
309,630
4.7
Note: The table above sets forth Makita's consolidated net sales by geographic area based on the customer’s location forthe periods presented. Accordingly, it differs from operating segment information on page 10. The table aboveshows the changes in the percentage ratio of net sales compared to the corresponding period of the previous year.
3. Exchange Rates

Yen/U.S. Dollar........
Yen/Euro ..................

For the threemonths ended
June 30, 2012

For the threemonths ended
June 30, 2013

80.18
102.8498.78
128.95Yen
For the year
ended March 31,
2013
82.91
106.78For the six
months ending
September 30,
2013 (Forecast)

For the year
ending March
31, 2014(Forecast)

95
125

95
125

4. Production Ratio (unit basis)
For the threemonths ended
June 30, 2012
Composition ratio

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

11.2%
88.8%

For the threemonths ended
June 30, 2013
Composition ratio

11.7%
88.3%

5. Consolidated Capital Expenditures, Depreciation and Amortization, and R&D cost
Yen (millions)
For the three
For the year
For the threemonths ended
ended
months ended
June 30, 2013
March 31, 2013
June 30, 2012
Capital expenditures ..................
Depreciation and amortization ...
R&D cost ...................................

2,200
1,754
2,048

3,422
2,696
2,113

English translation of "KESSAN TANSHIN" originally issued in Japanese

11,4817,542
8,396

For the year
ended
March 31, 2013
Composition ratio

11.6%
88.4%

For the year
endingMarch 31, 2014
(Forecast)
15,0008,000
9,300

12