Makita Corporation
Consolidated Financial Results
for the year ended March 31, 2023
(IFRS Financial Information)(English translation of "KESSAN TANSHIN"
originally issued in Japanese)

CONSOLIDATED FINANCIAL RESULTS
FOR THE YEAR ENDED MARCH 31, 2023 (Unaudited)
April 27, 2023

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

1. Summary operating results of the year ended March 31, 2023 (From April 1, 2022 to March 31, 2023)(1) CONSOLIDATED OPERATING RESULTS
Yen (millions)
For the year ended
For the year ended
March 31, 2022
March 31, 2023%%
Revenue ...........................................................................
739,260
21.5
764,702
3.4
Operating profit ...............................................................
91,728
3.7
28,246(69.2)
Profit before income taxes ...............................................
92,483
6.1
23,887(74.2)
Profit................................................................................
65,337
4.2
11,571(82.3)
Profit attributable to owners of the parent .......................
64,7704.4
11,705(81.9)
Comprehensive income ....................................................
108,118
6.1
42,359(60.8)
Yen
Profit attributable to owners of the parent per share(Basic) .........................................................................
238.54
43.11(Diluted) ......................................................................
Ratio of profit attributable to owners of the parent
to total equity attributable to owners of the parent (%) ...
9.2%
1.5%
Ratio of profit before income taxes to total assets (%) ....
10.2%
2.3%
Ratio of operating profit to revenue (%) .........................
12.4%
3.7%
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 March 31, 2023
As of March 31, 2022
1,007,497
1,099,351
752,530
775,699
746,344769,247
74.1%

70.0%
Yen

Equity attributable to owners of the parent per share .......
Note: Amounts of less than one million yen have been rounded.

English Translation of "KESSAN TANSHIN" originally issued in Japanese

2,748.64

2,832.89

1

(3) CONSOLIDATED CASH FLOWS
Yen (millions)
For the year ended
For the year ended
March 31, 2022
March 31, 2023
(103,660)(27,891)
52,626
71,057

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

44,430(37,680)
80,970162,720

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 ended
March 31, 2023

For the year ending
March 31, 2024
(Forecast)

10.00
11.00
21.00

10.00
(Note)(Note)Yen (millions)
Total cash dividend ......................................................
19,5505,702
Dividend payout ratio (%) ...........................................
30.2%
48.7%
Ratio of total cash dividend attributable to owners of
the parent to total assets (%)........................................
2.8%
0.8%
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 2023 and 2024” on page 7.
3. Consolidated Financial Performance Forecast for the year ending March 31, 2024
Yen (millions)
For the year ending March 31, 2024
Revenue..................................................................................................
Operating profit ......................................................................................
Profit before income taxes......................................................................
Profit attributable to owners of the parent ..............................................

680,000
55,00047,00033,300%(11.1)
94.7
96.8
184.5

Yen
Profit attributable to owners of the parent per share(Basic) ...................

122.63

Note: 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 shares):
2. Number of treasury shares:
3. Average number of shares outstanding:

As of March 31, 2023:
As of March 31, 2022:
As of March 31, 2023:
As of March 31, 2022:
For the year ended March 31, 2023:
For the year ended March 31, 2022:

280,017,520
280,017,520
8,475,674
8,485,061
271,539,104
271,530,966

Makita’s earnings releases (KESSAN TANSHIN) are not subject to an audit.
Explanation regarding proper use of business forecasts, and other significant matters
The financial forecast given above is based on assumptions, judgments and beliefs in light of the information
currently available to it. Therefore, these statements should not be interpreted as representation where such objectives
will be achieved. As a consequence of the factors above and other, actual results may vary materially from the forecasts
provided above. Regarding the assumptions for the forecasts and cautions, refer to “(4) Outlook for the fiscal year
ending March 31, 2024” on page 5.

English Translation of "KESSAN TANSHIN" originally issued in Japanese

3

SUPPLEMENT INFORMATION (CONSOLIDATED)
1. Overview of operating results(1) Overview of operating results of the year
Looking at the international economic situation during the fiscal year, concerns over a global economic downturn
have heightened against the backdrop of factors including high inflation, monetary tightening in various countries andthe energy crisis associated with the prolongation of the war in Ukraine.
In this situation, the Makita Group focused on expanding its lineup of cordless products including power tools
and outdoor 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 a whole.
We also work to increase the level of the community-based and customer-oriented service framework in order tofurther strengthen trusting relationships with customers around the world. We strive to deepen and develop the market
centered on cordless products.
Although sales were sluggish in Europe and North America, our group's consolidated financial results for the
fiscal year set a new record high, increased 3.4% year on year to 764,702 million yen due to strong sales in Japan andOceania, as well as the impact of the yen’s depreciation and strong local currencies. In terms of profit, operating profit
decreased by 69.2% year on year to 28,246 million yen (operating profit ratio 3.7%) due to a worsening cost ratio as aresult of the impact of foreign exchange rates and soaring raw material prices, along with an increase in selling, general,administrative and others expense. Profit before income taxes decreased by 74.2% year on year to 23,887 million yen(profit before income taxes ratio: 3.1%), and profit attributable to owners of the parent decreased by 81.9% to 11,705
million yen (ratio of profit attributable to owners of the parent: 1.5%).
Revenue by region are as follows:
In Japan, although stay-at-home demand subsided, we mainly secured sales of cordless outdoor power equipment
and the new XGT series of products, resulting in a 4.2% increase year on year to 122,978 million yen.
In Europe, as sales decreased by 1.0% year on year to 348,994 million yen due to deteriorating business
confidence caused by high inflation, monetary tightening, and uncertainty concerning energy supply.
In North America, while sales decreased as stay-at-home demand subsided and monetary tightening createdwariness of a recession, revenue increased 6.1% year on year to 119,064 million yen due to the depreciation of the
yen against local currencies.
In Asia, although there was market turmoil around China’s zero COVID-19 policy and impacts from monetary
tightening in various countries, sales were strong in Taiwan and other countries and the depreciation of the yen
against local currencies contributed to revenue increasing by 8.3% year-on-year to 53,276 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 13.1% year on year to 47,256 million yen due to thedepreciation 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 13.6% year on year increase to
58,593 million yen.
In the Middle East and Africa, despite continuing unstable political and economic conditions, revenue increased
4.2% year on year to 14,541 million yen due to the depreciation of the yen against local currencies.
(Initiatives toward carbon neutrality)
The impact of climate change on society, such as frequent wind and flood disasters, is becoming more serious,and companies 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
English Translation of "KESSAN TANSHIN" originally issued in Japanese4outdoor power equipment that does not emit exhaust gases during use as the next pillar of our future business inaddition 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.
During the fiscal year ended March 2023, solar panels were installed at the Okinawa Branch in Japan and at
multiple overseas locations, including the Thailand Plant, Austria, and Taiwan, and we promoted the use of renewableenergy.
We will continue to work on the use of renewable energy and energy conservation in our business activities toachieve GHG emission reduction targets.
(2) Overview of financial situation for the fiscal year ended March 31, 2023
Total assets as of the end of the year increased by 91,854 million yen to 1,099,351 million yen compared to thebalance as of March 31, 2022. This increase was mainly due to the rise in “Cash and cash equivalents “.
Total liabilities increased by 68,685 million yen to 323,652 million yen compared to the balance as of March 31,
2022. This increase was mainly due to the rise in “Borrowings.”
Total equity increased by 23,169 million yen to 775,699 million yen compared to the balance as of March 31, 2022.
This increase was mainly due to exchange gain or loss recognized in “Exchange differences on translating foreign
operations” included in the “Other components of equity”.

(3) Overview of cash flow situation for the fiscal year ended March 31, 2023
Total cash and cash equivalents amounted to 162,720 million yen, increased by 91,663 million yen compared to theend of the previous year.
Net cash provided by operating activities amounted to 44,430 million yen (net cash used in operating activities
amounted to 103,660 million yen in the previous year), due mainly to a decrease in inventories.
Net cash used in investing activities increased by 9,789 million yen from the previous period to 37,680 million yen(27,891 million yen in the previous period), due to income reduction after withdrawal of time deposit, sale andredemption of investment.
Consequently, free cash flows (the sum of cash flows from operating activities and investing activities) amounted to
6,750 million yen (-131,551 million yen in the previous year).
Net cash provided by financing activities amounted to 80,970 million yen (net cash used in financing activities
amounted to 52,626 million yen in the previous year), up 28,344 million yen over the previous year, due to proceedsfrom short-term loans.

(4) Outlook for the fiscal year ending March 31, 2024
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;
・ Next to power tools, we will work to develop and market products, mainly cordless outdoor power
equipment and cleaning products, as the mainstay of future business.
・ Work to strengthen a multipolar production and procurement system that is not overly dependent on any
specific country, region, or supplier.
・ Strive to raise its brand power by promoting the establishment of a sales and after-sales service network to

English Translation of "KESSAN TANSHIN" originally issued in Japanese5

offer community-based and fine-tuned response to needs of customers around the world.
On the basis of these factors, the Group will strive to maintain a solid presence in the industry and contribute toachieve a sustainable society as a global supplier of a comprehensive range of tools for creating comfortable homes
and living environments.
(Consolidated Financial Performance Forecast for the Year Ending March 31, 2024)
The global economy is expected to continue to slow as inflation remains high and monetary policy continues to betightened to cope. In addition, the environment surrounding our group is expected to remain uncertain due to rising
prices of commodities and increasing international tension over the Ukraine issue.
Based on these assumptions, the consolidated results for the fiscal year ending March 2024 are estimated below.
We will continue to work to strengthen our profit structure by eliminating waste and inventory optimization.
Yen (millions)
For the year ending
March 31, 2024
Revenue .....................................................................................................
Operating profit ..........................................................................................
Profit before income taxes .........................................................................
Profit attributable to owners of the parent..................................................

680,000
55,00047,00033,300[Preconditions]
The above forecast is based on the assumption of exchange rates of 130 yen to the U.S. dollar, 140 yen to the euro and19.0 yen to the renminbi.
[Reference]
The actual exchange rate for the year ended March 31, 2023 was 135.50 yen to the U.S. dollar, 140.99 yen to the euro
and 19.75yen to the renminbi.
FORWARD-LOOKING STATEMENTS
This document contains forward-looking statements based on assumptions, judgments and beliefs in light of theinformation currently available to it., and includes potential risks and uncertainties. As a consequence of the factors
above and other, actual results may vary materially from the forecast provided. Therefore, these statements 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 2023 and 2024
Makita’s basic profit distribution policy has been to pay a minimum annual dividend of 10 yen per share and aconsolidated dividend payout ratio of 30% or more (however, if there are special factors, the dividend amount will be
determined based on adjusted basic earnings per share after adding or subtracting such factors). However, from theviewpoint of strengthening shareholder returns, we have reviewed this policy and decided to set the minimum annual
dividend at 20 yen and the total return ratio(*) at 35% or more (taking special factors into consideration, if any),
starting from the fiscal year ended March 31, 2023. Of these, we will consider purchasing of treasury shares in view ofstock price level and free cash flow and so on, in order to increase shareholder returns through the implementation of aflexible capital policy and improvement of capital efficiency.
Cash dividend per share +*total return ratio =Total amount of purchased
treasury shares during the year

Average number ofshares outstanding

×100

Profit attributable to owners of the parent per share (Excluding special factors)

We intend to use retained earnings to invest in environmental initiatives, which will become increasingly important,and to expand our business globally, while maintaining a financial structure that can withstand any changes in thebusiness environment.
Our forecast for dividends is as follows;
For the year ended
March 31, 2023
(Result)

For the year ending
March 31, 2024
(Forecast)

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

10.00 yen

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

11.00 yen (Note 1)

10.00 yen
(Note 2)

(Note 2)
Total ..........................................................................
21.00 yen (Note 1)
Notes: 1. During the period under review, there were special factors related to production and procurement, such as thesuspension of factory operations in China due to a lockdown that occurred in the first quarter. In determining
the dividend amount, an after-tax impact of approximately 3.9 billion yen was added.
2. At a meeting of the Board of Directors to be held in April 2024, in accordance with the basic policy on profit
distribution described above, the amount of dividends will be determined so that the total return ratio is at least
35%, and the decision will be submitted to the General Meeting of Shareholders to be held the following June.
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.

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, 2022
As of March 31, 2023
Composition ratio

Composition ratio

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

71,057

162,720

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

117,541

110,884

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

475,128

453,752

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

5,281

6,970

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

15,952

19,113

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

684,95968.0%

753,439

68.5%

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

243,636

265,638

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

10,085

10,427

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

41,54536,607Retirement benefit assets ................................

11,286

12,157

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

12,23817,901Other non-current assets .................................

3,748

3,182

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

322,53832.0%

345,912

31.5%

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

1,007,497

100.0%

1,099,351

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

8Yen (millions)
As of March 31, 2022
As of March 31, 2023
Composition ratio

Composition ratio

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

67,274

41,767

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

79,674

186,390

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

9,888

7,504

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

14,767

3,757

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

4,381

4,623

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

48,181

47,552

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

224,165

22.2%

291,593

26.5%

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

3,160

2,830

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

13,954

14,835

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

1,595

1,618

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

11,888

12,576

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

205

200

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

30,802

3.1%

32,0592.9%

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

254,96725.3%

323,652

29.4%

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

23,80523,805

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

45,58545,606

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

640,577

629,314

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

(11,540)(11,528)

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

47,917

82,050Total equity attributable to owners of the parent ...

746,34474.1%

769,247

70.0%

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

6,186

0.6%

6,452

0.6%

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

752,530

74.7%

775,699

70.6%

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

1,007,497

100.0%

1,099,351

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, 2023
March 31, 2022
Composition ratio

Composition ratio

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

739,260 100.0%

764,702 100.0%

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

(510,942) (69.1%)(575,954) (75.3%)

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

228,318

188,748

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

(136,590) (18.5%)

30.9%
12.4%

24.7%

(160,502) (21.0%)

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

91,728Financial income .....................................................................

1,937

3,316

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

(1,182)(7,675)PROFIT BEFORE INCOME TAXES .....................................

92,483

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

(27,146)

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

65,337

8.8%

11,571

1.5%

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

64,7708.7%

11,705

1.5%

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

567

0.1%

(134)

(0.0)

12.5%

28,246

3.7%

23,8873.1%(12,316)

Profit attributable to:Consolidated Statements of Comprehensive Income
Yen (millions)
For the year ended
For the year ended
March 31, 2023
March 31, 2022
65,337

11,571through other comprehensive income (loss) ............................

(2,480)110

Remeasurement of defined benefit plans .................................

761

1,212

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

(1,719)

1,322

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

44,50029,466

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

44,50029,466

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

42,78130,788COMPREHENSIVE INCOME ...................................................

108,118

42,359Owners of the parent ...............................................................

107,196

42,093

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

922

266

PROFIT .......................................................................................
OTHER COMPREHENSIVE INCOME (LOSS), 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 (loss)

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

(3) Consolidated Statement of Changes in Equity
Yen (millions)
For the year ended March 31, 2022
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

64,770-Share-based paymenttransaction

26

Transfer from othercomponents of equity toretained earnings

Balance at March 31, 2022

663,326

64,770567

65,33742,42642,426355

42,78142,426

107,196922

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

(7)

(7)

(7)

10

36

36

(5,899)

-

-

5,899

Total amounts of transactions
with owners-

26(12,837)

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

47,917746,3446,186

752,530

Yen (millions)
For the year ended March 31, 2023
Equity attributable to owners of the parent
Share
CapitalBalance at April 1, 2022

CapitalSurplus23,80545,585

Profit for the period

Retainedearnings

TreasurysharesOther
componentsof equity

640,577(11,540)

47,917--

11,705

Inflation adjustments(3,197)

Dividends paid

(19,550)-

NonControllinginterest

Total

Total
equity746,3446,186

752,530

11,705(134)

11,571

30,38830,388400

30,78830,38842,093266

42,359

3,524

327

327

(19,550)(19,550)

11,705

Other comprehensive income
Comprehensive income

Total
equity5,471(18,736)

Purchase of treasury shares

Total
657,855

64,770

Other comprehensive income

NonControllinginterest

Purchase of treasury shares

(1)

(1)

(1)

Disposal of treasury shares

0

0

0

13

34

34

221

-

-

Share-based paymenttransaction

21

Transfer from othercomponents of equity toretained earnings
Total amounts of transactions
with owners
Balance at March 31, 2023

(221)
-

21

(19,771)12

221(19,517)-(19,517)23,80545,606629,314(11,528)

82,050769,2476,452

775,699

English Translation of "KESSAN TANSHIN" originally issued in Japanese11(4) Consolidated Statements of Cash Flows
Yen (millions)
For the year ended
For the year ended
March 31, 2023
March 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:Profit.....................................................................................................

65,337

11,571

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

21,002

25,889

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

27,146

12,316

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

(755)

4,359

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

483

438

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

(14,153)

12,488Decrease (increase) in inventories ........................................................

(175,557)

48,571

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

1,295(27,155)

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

(361)

(197)

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

(10,473)

5,993

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

9,187(17,932)

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

(76,849)

76,341Dividends received ...............................................................................

751

731

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

417

2,591

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

(673)(2,140)

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

(27,306)(33,093)

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

(103,660)

44,430Purchase of non-current assets .............................................................

(59,937)(39,088)

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

725

933

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

(200)

(0)

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

18,065803

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

(9,187)(4,749)Proceeds from withdrawal of time deposits .........................................

22,328

3,496

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

315

925

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

(27,891)(37,680)

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

75,169104,874

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

(7)

(1)

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

(18,736)(19,550)

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

(3,611)(4,376)

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

(189)

23

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

52,62680,970EFFECT OF EXCHANGE RATE CHANGES ON CASH AND
CASH EQUIVALENTS.......................................................................

1,342

3,943

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

(77,583)

91,663

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

148,640

71,057

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

71,057

162,720

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, 2022
North
Asia
Total
Other
America

Eliminations

Consolidated

Japan

Europe(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)91,728Eliminations

Consolidated

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

Japan

EuropeYen (millions)
For the year ended March 31, 2023
North
Asia
Total
Other
America(2) Inter-segment ........

146,364
268,723351,252
11,810121,685
3,449

34,477
301,409653,778585,391

110,924444(585,835)

764,702-

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

415,087

363,062

125,134

335,886

1,239,169

111,368(585,835)

764,702

Operating profit (loss) .

(2,119)

9,088

(912)

33,02839,0852,318(13,157)

28,246

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

Revenue by product categories
Yen (millions)
For the year ended
For the year ended
March 31, 2022
March 31, 2023
Composition ratio

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

611,655
127,605739,260

82.7%
17.3%
100.0%

Increase(Decrease)

Composition ratio

614,840
149,862
764,702

(%)

80.4%
19.6%
100.0%

0.5%
17.5%
3.4%

Information per share
Yen

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

As ofMarch 31, 2022
2,748.64

As ofMarch 31, 2023
2,832.89
Yen

For the year ended
March 31, 2022
Profit attributable to owners of the parent per share(Basic) .............................................................................

238.54

For the year ended
March 31, 2023
43.11

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, 2022: 271,530,966
For the year ended March 31, 2023: 271,539,104
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, 2023
March 31, 2022
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
20,233764,702
3.4
122,978
4.2
641,724
3.3
28,246 (69.2)
23,887 (74.2)
11,705 (81.9)
43.11
18,804
Yen (millions)
For the year ending
March 31, 2024
(Forecast)(%)

Revenue ....................................................................................................................................
680,000(11.1)
Domestic ..............................................................................................................................
122,000(0.8)
Overseas...............................................................................................................................
558,000(13.0)
Operating profit ........................................................................................................................
55,00094.7
Profit before income taxes ........................................................................................................
47,00096.8
Profit attributable to owners of the parent ................................................................................
33,300184.5
Profit attributable to owners of the parent per share (Yen) .....................................................
122.63
Number of Employees ..............................................................................................................
Notes:
1. Please refer to 1. Overview of operating results Section 4 “Outlook for the fiscal year ending March 31, 2024”
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, 2023
March 31, 2022
(%)

(%)

Japan ................................................................
118,050
4.4
122,978
4.2
Europe .............................................................
352,470
24.7
348,994(1.0)
112,24823.4
119,064
6.1
North America .................................................
Asia .................................................................
49,19625.1
53,276
8.3
Central and South America..............................
41,76542.0
47,256
13.1
51,57924.958,593
13.6
Oceania............................................................
The Middle East and Africa.............................
13,952
20.5
14,541
4.2
739,260
21.5
764,702
3.4
Total.................................................................
Notes: 1. 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 14.
2. 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, 2022

For the year ended
March 31, 2023

For the year ending
March 31, 2024
(Forecast)112.39130.5517.51

135.50140.99
19.75

130
140
19.0

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

(4) Production Ratio (unit basis)

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

For the year ended
March 31, 2022

For the year ended
March 31, 2023

Composition ratio

Composition ratio

7.0%
93.0%

7.9%
92.1%

(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, 2023
March 31, 2024
March 31, 2022
(Forecast)
Capital expenditures ...................
Depreciation and amortization ...
R&D costs ..................................

59,937
17,63914,14539,08821,725
14,903English Translation of "KESSAN TANSHIN" originally issued in Japanese

30,00023,70015,50016