Annual Report

2013

Year Ended March 31, 2013

LiveGreen&
GrowStrong

CONTENTS

PROFILEFinancial Highlights &Highlights of Performance1

Sales by Region

2

Message to Shareholders

4

Corporate Governance8

Comments from an Outside Audit &Supervisory Board Member

11

Directors, Audit & Supervisory
Board Members andCorporate Officers

12

Environmental Topics

13

Environment-Conscious
Designs

14

Approaches to Local Communities 15
10-Year Summary

16

Consolidated Balance Sheets

18

Consolidated Statementsof IncomeConsolidated Statements ofComprehensive Income

20

Consolidated Statements of
Changes in Equity

21

Consolidated Statements ofCash Flows

22

Corporate Directory

23

Corporate Data25

In 1958, Makita Corporation, founded in 1915 as anelectric motor sales and repair company, became thefirst company in Japan to manufacture and sellportable electric planers. Over the half century since,
Makita has worked to build a steady position as amanufacturer of portable power tools. Today, Makita
continues to provide products and services that are
beneficial to all types of customers engaged in
housing construction. Makita’s history is one of closeinteraction with customers and parallels the evolution of power tools. As a leading manufacturer andmarketer of power tools, Makita operates a networkof production, direct bases and service offices inJapan and about 50 countries around the world. The
ratio of overseas production is 88% on a unit basis,and 82% of consolidated sales come from overseas
markets. Through the power of its brand, supported
by technology, quality and after-sales support,
Makita has secured a powerful competitive advantage and established a solid position as a leader inthe global power tools market.

VISION
Always placing itself in the customer’s position,
Makita aims to be a global supplier of a comprehensive range of power tools that assist people increating homes and living environments, while
continuously striving to become a truly global
corporation. On the basis of this stance, by continuing to develop market-leading products, we aim tobecome a consistently strong company. With this,
we mean a company that can capture and maintainworldwide market leadership as a global total
supplier of professional power tools, gardening
equipment and pneumatic tools to customers
around the world.
Forward-Looking Statements
This report contains forward-looking statements based on Makita’s own
projections and estimates. The power tools market, where Makita is mainly
active, is subject to the effects of rapid shifts in economic conditions,demand for housing, currency exchange rates, changes in competitiveness, and other factors. Due to the risks and uncertainties involved, actual
results could differ substantially from the content of these statements.
Therefore, these statements should not be interpreted as representationthat such objectives will be achieved.

Financial Highlights &Highlights of Performance
Net Sales

Operating Income

Operating Margin

4.7%

6.5 %

1.7pt

up

ROE

down

ROA

down

down

4.4 %

Operating Margin
20.0

20 (%)

8.9 %Net Income

7.5 %

15

16.1

19.6
17.0

17.2

15.4 16.4 14.7

12.4

10

8.0
0
2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

Share of Net Sales■ Power Tools■ Gardening Equipment, Household and Other Products■ Parts, Repairs and Accessories

Share of Net Sales(% / FY2013)

14.3
13.6
72.1
Net Sales (¥ millions)‘11

195,952‘12

213,274‘13

223,069

37,14539,82742,13639,533

The Power Tools group offers a wide range of
dependable drills, rotary hammers, hammer drills,
demolition hammers, grinders, cordless impact
drivers and sanders. This group generates thelargest portion of Makita’s consolidated net sales.
Principal products in Makita’s Gardening
Equipment, Household and Other Products group
include chain saws, petrol brushcutters, hedge
trimmers, industrial vacuum cleaners and handheld
vacuum cleaners for home use.
Makita’s after-sales service includes the sales ofParts, Repairs and Accessories such as saw blades,
drill bits and grinding wheels.

42,61044,425

1

CONTENTS

PROFILEFinancial Highlights &Highlights of Performance1

Sales by Region

2

Message to Shareholders

4

Corporate Governance8

Comments from an Outside Audit &Supervisory Board Member

11

Directors, Audit & Supervisory
Board Members andCorporate Officers

12

Environmental Topics

13

Environment-Conscious
Designs

14

Approaches to Local Communities 15
10-Year Summary

16

Consolidated Balance Sheets

18

Consolidated Statementsof IncomeConsolidated Statements ofComprehensive Income

20

Consolidated Statements of
Changes in Equity

21

Consolidated Statements ofCash Flows

22

Corporate Directory

23

Corporate Data25

In 1958, Makita Corporation, founded in 1915 as anelectric motor sales and repair company, became thefirst company in Japan to manufacture and sellportable electric planers. Over the half century since,
Makita has worked to build a steady position as amanufacturer of portable power tools. Today, Makita
continues to provide products and services that are
beneficial to all types of customers engaged in
housing construction. Makita’s history is one of closeinteraction with customers and parallels the evolution of power tools. As a leading manufacturer andmarketer of power tools, Makita operates a networkof production, direct bases and service offices inJapan and about 50 countries around the world. The
ratio of overseas production is 88% on a unit basis,and 82% of consolidated sales come from overseas
markets. Through the power of its brand, supported
by technology, quality and after-sales support,
Makita has secured a powerful competitive advantage and established a solid position as a leader inthe global power tools market.

VISION
Always placing itself in the customer’s position,
Makita aims to be a global supplier of a comprehensive range of power tools that assist people increating homes and living environments, while
continuously striving to become a truly global
corporation. On the basis of this stance, by continuing to develop market-leading products, we aim tobecome a consistently strong company. With this,
we mean a company that can capture and maintainworldwide market leadership as a global total
supplier of professional power tools, gardening
equipment and pneumatic tools to customers
around the world.
Forward-Looking Statements
This report contains forward-looking statements based on Makita’s own
projections and estimates. The power tools market, where Makita is mainly
active, is subject to the effects of rapid shifts in economic conditions,demand for housing, currency exchange rates, changes in competitiveness, and other factors. Due to the risks and uncertainties involved, actual
results could differ substantially from the content of these statements.
Therefore, these statements should not be interpreted as representationthat such objectives will be achieved.

Financial Highlights &Highlights of Performance
Net Sales

Operating Income

Operating Margin

4.7%

6.5 %

1.7pt

up

ROE

down

ROA

down

down

4.4 %

Operating Margin
20.0

20 (%)

8.9 %Net Income

7.5 %

15

16.1

19.6
17.0

17.2

15.4 16.4 14.7

12.4

10

8.0
0
2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

Share of Net Sales■ Power Tools■ Gardening Equipment, Household and Other Products■ Parts, Repairs and Accessories

Share of Net Sales(% / FY2013)

14.3
13.6
72.1
Net Sales (¥ millions)‘11

195,952‘12

213,274‘13

223,069

37,14539,82742,13639,533

The Power Tools group offers a wide range of
dependable drills, rotary hammers, hammer drills,
demolition hammers, grinders, cordless impact
drivers and sanders. This group generates thelargest portion of Makita’s consolidated net sales.
Principal products in Makita’s Gardening
Equipment, Household and Other Products group
include chain saws, petrol brushcutters, hedge
trimmers, industrial vacuum cleaners and handheld
vacuum cleaners for home use.
Makita’s after-sales service includes the sales ofParts, Repairs and Accessories such as saw blades,
drill bits and grinding wheels.

42,61044,425

1

Sales by Region

EUROPEEUROPE

40.4 %NORTH AMERICA
JAPAN

ASIA

(excluding Japan)

The Middle East
and Africa

OTHER REGIONS

18.5 %
Central and South America

Net Sales (¥ millions)

OTHER REGIONS‘11

Central andSouth America

115,977‘12

123,251‘11‘13

125,024‘12

23,370‘13

22,919Europe, where the Makita Group has established a solid businessbase, is the largest market for Makita. This market consists of the U.K.,
Germany, France and other western European countries, where
economic growth is moderate, Russia and eastern European
countries, such as Poland, the Czech Republic and Romania.

Oceania

NORTH AMERICA

18.3 %
46,06553,17556,555

37,111‘11‘12

37,475‘12‘13

41,483

North America (comprising the U.S. and Canada) is a power tool
market with many professional users, and the same number or moreof DIY users. Makita is continuously commercializing value-added
products such as lithium-ion battery products, and these have further
contributed to our brand image.

‘13

17,78018,848‘13

The Middle East and Africa
Net Sales (¥ millions)

Net Sales (¥ millions)‘11

15,383‘12

9.4 %Net Sales (¥ millions)

Makita has secured a solid position as the leading power tool
manufacturer in Japan. We have earned the trust of customers, mainly
professional users, by satisfying a variety of customer needs throughan after-sales service network throughout Japan.

2

ASIA (excluding Japan)

13.4 %Net Sales (¥ millions)‘13

Oceania
‘11

JAPAN

‘12

20,295Net Sales (¥ millions)Share of Net Sales (% / FY2013)‘11

Net Sales (¥ millions)

23,073‘11

14,726‘12

14,647‘13

15,69526,013
29,106In Asia, as in other markets, Makita products have won a favorable
reputation and customer trust for product quality and excellent
after-sales service systems befitting a brand for professional users.
This enables Makita to maintain a high market share in countries
throughout the region.

Makita is active in Central and South America, Oceania, the Middle
East and Africa, which are contributing to the growth of the Group’s
consolidated net sales. These regions are abundant in natural
resources, and medium- to long-term market growth can be expected.

3

Sales by Region

EUROPEEUROPE

40.4 %NORTH AMERICA
JAPAN

ASIA

(excluding Japan)

The Middle East
and Africa

OTHER REGIONS

18.5 %
Central and South America

Net Sales (¥ millions)

OTHER REGIONS‘11

Central andSouth America

115,977‘12

123,251‘11‘13

125,024‘12

23,370‘13

22,919Europe, where the Makita Group has established a solid businessbase, is the largest market for Makita. This market consists of the U.K.,
Germany, France and other western European countries, where
economic growth is moderate, Russia and eastern European
countries, such as Poland, the Czech Republic and Romania.

Oceania

NORTH AMERICA

18.3 %
46,06553,17556,555

37,111‘11‘12

37,475‘12‘13

41,483

North America (comprising the U.S. and Canada) is a power tool
market with many professional users, and the same number or moreof DIY users. Makita is continuously commercializing value-added
products such as lithium-ion battery products, and these have further
contributed to our brand image.

‘13

17,78018,848‘13

The Middle East and Africa
Net Sales (¥ millions)

Net Sales (¥ millions)‘11

15,383‘12

9.4 %Net Sales (¥ millions)

Makita has secured a solid position as the leading power tool
manufacturer in Japan. We have earned the trust of customers, mainly
professional users, by satisfying a variety of customer needs throughan after-sales service network throughout Japan.

2

ASIA (excluding Japan)

13.4 %Net Sales (¥ millions)‘13

Oceania
‘11

JAPAN

‘12

20,295Net Sales (¥ millions)Share of Net Sales (% / FY2013)‘11

Net Sales (¥ millions)

23,073‘11

14,726‘12

14,647‘13

15,69526,013
29,106In Asia, as in other markets, Makita products have won a favorable
reputation and customer trust for product quality and excellent
after-sales service systems befitting a brand for professional users.
This enables Makita to maintain a high market share in countries
throughout the region.

Makita is active in Central and South America, Oceania, the Middle
East and Africa, which are contributing to the growth of the Group’s
consolidated net sales. These regions are abundant in natural
resources, and medium- to long-term market growth can be expected.

3Message to Shareholders

Aiming to Be a Global Leader
in Power Tools

Favorable results despite
adverse economic
conditions

Our strength — a solid
financial position

A number of destabilizing factors coincided in fiscal 2013,Market share fluctuations are apt to occur during(the year ended March 31, 2013) including the prolonged

economic downturns, when only companies with the

housing slump in the United States, the sovereign debt

strength to weather difficult times have opportunities

crisis that spread across Europe, continuation of the ultra-

to increase their share. In that sense, we believe

strong yen environment, and an economic slowdown inthat a key strength of Makita is our solid financial

China.

position, which enables us to continue ordinary
sales expansion even in adverse business conditions.

In these circumstances, Makita achieved comparatively

In fiscal 2013, we resolutely carried through withstrong business results in fiscal 2013. Consolidated net

activities to increase market share.

sales increased for the third consecutive year, rising 4.7%

Masahiko Goto

Shiro Hori

Chairman,
Representative Director

President,
Representative Directorto ¥309.6 billion. A factor that contributed to these

Sales by Geographic Area

favorable results was expansion of our market area.

Yen in billions

Although business was weak in Europe overall, sales in

300

northern Europe and eastern Europe climbed. Makita’s

250

sales area in Russia expanded to the Russian far east,

Greetings from the New Management
As a global supplier of a comprehensive range of power tools that assist people
in creating homes and living environments, Makita aims to be the market shareleader in the global power tool industry. Makita copes flexibly with changes inthe business environment and is making steady progress toward achieving its
goal of consolidating a strong position in the industry.

4

309.6

150
100

centered on the Sao Paulo area to the Amazon basin

50

area. Our business in Asia has grown, mainly in Thailand,0

Feedback from these markets has been excellent, and we

295.7

200

and market coverage in Brazil expanded from activities

Indonesia, Vietnam, and other parts of Southeast Asia.

272.6

FY2011■ Japan■ Europe■ North America

FY2012■ Asia■ Central & South America■ Oceania

FY2013■ The Middle-East & Africa

expect continued growth in the future.

MESSAGE TOSHAREHOLDERS

5

Message to Shareholders

Aiming to Be a Global Leader
in Power Tools

Favorable results despite
adverse economic
conditions

Our strength — a solid
financial position

A number of destabilizing factors coincided in fiscal 2013,Market share fluctuations are apt to occur during(the year ended March 31, 2013) including the prolonged

economic downturns, when only companies with the

housing slump in the United States, the sovereign debt

strength to weather difficult times have opportunities

crisis that spread across Europe, continuation of the ultra-

to increase their share. In that sense, we believe

strong yen environment, and an economic slowdown inthat a key strength of Makita is our solid financial

China.

position, which enables us to continue ordinary
sales expansion even in adverse business conditions.

In these circumstances, Makita achieved comparatively

In fiscal 2013, we resolutely carried through withstrong business results in fiscal 2013. Consolidated net

activities to increase market share.

sales increased for the third consecutive year, rising 4.7%

Masahiko Goto

Shiro Hori

Chairman,
Representative Director

President,
Representative Directorto ¥309.6 billion. A factor that contributed to these

Sales by Geographic Area

favorable results was expansion of our market area.

Yen in billions

Although business was weak in Europe overall, sales in

300

northern Europe and eastern Europe climbed. Makita’s

250

sales area in Russia expanded to the Russian far east,

Greetings from the New Management
As a global supplier of a comprehensive range of power tools that assist people
in creating homes and living environments, Makita aims to be the market shareleader in the global power tool industry. Makita copes flexibly with changes inthe business environment and is making steady progress toward achieving its
goal of consolidating a strong position in the industry.

4

309.6

150
100

centered on the Sao Paulo area to the Amazon basin

50

area. Our business in Asia has grown, mainly in Thailand,0

Feedback from these markets has been excellent, and we

295.7

200

and market coverage in Brazil expanded from activities

Indonesia, Vietnam, and other parts of Southeast Asia.

272.6

FY2011■ Japan■ Europe■ North America

FY2012■ Asia■ Central & South America■ Oceania

FY2013■ The Middle-East & Africa

expect continued growth in the future.

MESSAGE TOSHAREHOLDERS

5

Meeting diverse needs
in developed anddeveloping markets

Upgrading andexpanding overseas
production sites

A two-pronged
strategy of growth

Although no major change occurred in the overall trend

The global economic situation has changed dramaticallyEven in uncertain times when the economic environment

Increasing the number of customers and the numberin the power tools market, in developed countries thein 2013. A yen depreciation trend has developed in Japan,changes from moment to moment, including times ofof products is essential to future growth, and to thatmarket share of rechargeable tools equipped with lithium-

and a turnaround from a housing slump to a robust

exchange rate fluctuation, Makita cannot develop without

end a two-pronged growth strategy involving sales area

ion batteries, a sector in which Makita is the industry

housing market is expected in the United States.

surpassing competitors in productivity improvements.

expansion and product range expansion is necessary.

leader, has risen. In the U.S.A., Japan, and western Europe

A favorable turn in the U.S. economy is likely to lead to re-With that in mind, in fiscal 2014, we plan reinforcementin particular, we have focused on increasing the number

energization of the Asian economy. Although no uptrend

in two areas: a further increase in local procurement

Makita’s product domain has expanded. Whereasof models that can be powered by the same battery andhas yet appeared in Europe or in the Middle East andratios at overseas production sites and end-to-end costpreviously there was disproportionate emphasis on power

expanding the product range.

Africa, we believe we are headed for favorable business

reductions in all business processes, from raw materials

tools, we now have a more balanced domain that includes

conditions in the global economy as a whole.

procurement to delivery of products to end users. To

pneumatic tools, accessories, and gardening equipment.

increase local procurement ratios, we intend to engage

We aim to further expand these four mainstay productIn developing markets there is demand for high-durability,
low-priced products, and we worked to reduce theAs the economic tide shifts from recession to prosperity,

in local procurement of parts at production sites otherranges. We intend to place particular effort on expanding

cost of models that meet these needs. We also focused

we believe the expansion and upgrading of overseas

than those in Japan and China. Also, because differences

sales of accessories, because these are consumableon reinforcing user-focused after-sales service by, for

production sites that we have implemented will play an

between countries in the level of transport systemproducts that increase sales in prosperous times.

example, expanding the service network.

extremely important role in business development. In

development and ways of thinking about tax collection

prosperous times, especially times of substantial economic

are becoming evident as we expand our production sites

We ask our stakeholders for your continued understanding

growth, people want to buy products made locally andand sales areas, it has become necessary to establish

and support in the years to come and encourage you to

products made in their own countries. For this reason,systems that are efficient and suited to each individual

have high expectations for the future.

building production sites as close as possible to markets iscountry. Ultimately, the rationale for reinforcing logistics

effective, in addition to coping with the risk of exchange

is to increase the efficiency of channels to enable therate fluctuations.

production of products at low cost.

In fiscal 2013, Makita commenced full-scale operation

We will also continue to focus on services. We plan toof its Thai plant, which shortens production lead times

proceed in two ways. We will upgrade and expand thefor products for Southeast Asian markets, and expanded

service networks in China, Brazil, and Russia. We willproduction facilities at plants in Brazil and China. We

also expand to new areas where we have formerly notacquired a site adjacent to our plant in Romania andprovided direct services, such as the branch in Panama,

began plant expansion to increase production capacity.

which opened in April 2013.

Lithium-ion Battery Products

6

Local procurement, better
logistics and expanded
service network

MESSAGE TOSHAREHOLDERS

7

Meeting diverse needs
in developed anddeveloping markets

Upgrading andexpanding overseas
production sites

A two-pronged
strategy of growth

Although no major change occurred in the overall trend

The global economic situation has changed dramaticallyEven in uncertain times when the economic environment

Increasing the number of customers and the numberin the power tools market, in developed countries thein 2013. A yen depreciation trend has developed in Japan,changes from moment to moment, including times ofof products is essential to future growth, and to thatmarket share of rechargeable tools equipped with lithium-

and a turnaround from a housing slump to a robust

exchange rate fluctuation, Makita cannot develop without

end a two-pronged growth strategy involving sales area

ion batteries, a sector in which Makita is the industry

housing market is expected in the United States.

surpassing competitors in productivity improvements.

expansion and product range expansion is necessary.

leader, has risen. In the U.S.A., Japan, and western Europe

A favorable turn in the U.S. economy is likely to lead to re-With that in mind, in fiscal 2014, we plan reinforcementin particular, we have focused on increasing the number

energization of the Asian economy. Although no uptrend

in two areas: a further increase in local procurement

Makita’s product domain has expanded. Whereasof models that can be powered by the same battery andhas yet appeared in Europe or in the Middle East andratios at overseas production sites and end-to-end costpreviously there was disproportionate emphasis on power

expanding the product range.

Africa, we believe we are headed for favorable business

reductions in all business processes, from raw materials

tools, we now have a more balanced domain that includes

conditions in the global economy as a whole.

procurement to delivery of products to end users. To

pneumatic tools, accessories, and gardening equipment.

increase local procurement ratios, we intend to engage

We aim to further expand these four mainstay productIn developing markets there is demand for high-durability,
low-priced products, and we worked to reduce theAs the economic tide shifts from recession to prosperity,

in local procurement of parts at production sites otherranges. We intend to place particular effort on expanding

cost of models that meet these needs. We also focused

we believe the expansion and upgrading of overseas

than those in Japan and China. Also, because differences

sales of accessories, because these are consumableon reinforcing user-focused after-sales service by, for

production sites that we have implemented will play an

between countries in the level of transport systemproducts that increase sales in prosperous times.

example, expanding the service network.

extremely important role in business development. In

development and ways of thinking about tax collection

prosperous times, especially times of substantial economic

are becoming evident as we expand our production sites

We ask our stakeholders for your continued understanding

growth, people want to buy products made locally andand sales areas, it has become necessary to establish

and support in the years to come and encourage you to

products made in their own countries. For this reason,systems that are efficient and suited to each individual

have high expectations for the future.

building production sites as close as possible to markets iscountry. Ultimately, the rationale for reinforcing logistics

effective, in addition to coping with the risk of exchange

is to increase the efficiency of channels to enable therate fluctuations.

production of products at low cost.

In fiscal 2013, Makita commenced full-scale operation

We will also continue to focus on services. We plan toof its Thai plant, which shortens production lead times

proceed in two ways. We will upgrade and expand thefor products for Southeast Asian markets, and expanded

service networks in China, Brazil, and Russia. We willproduction facilities at plants in Brazil and China. We

also expand to new areas where we have formerly notacquired a site adjacent to our plant in Romania andprovided direct services, such as the branch in Panama,

began plant expansion to increase production capacity.

which opened in April 2013.

Lithium-ion Battery Products

6

Local procurement, better
logistics and expanded
service network

MESSAGE TOSHAREHOLDERS

7

Corporate Governance
Overview of Corporate Governance Structure

The Corporation’s Articles of Incorporation stipulate that thethe Audit & Supervisory Board, the four Audit & Supervisory

and the Corporation’s management in charge of business

The Corporation has adopted an audit and supervisory

number of Audit & Supervisory Board members shall not

Board members attend meetings of the Board of Directors

execution. Mr. Morita was elected as a director at the Generalboard system. The Audit & Supervisory Board consists

exceed five.

and other important meetings, receive reports on operations

Meeting of Shareholders held on June 25, 2013.

of four Audit & Supervisory Board members, three offrom the directors, read important documents such as

whom are independent outside Audit & Supervisory Board

The Board of Directors determines basic policies, matters

approval requests, and examine the status of operations andOutside Audit & Supervisory Board Member Mr. Haruhito

members who are not and have not been employed by therequired by law, and important matters relating toassets at the head office and principal places of business. They

Hisatsune has many years of experience at financial institutions

Corporation, including two who serve in a part-time capacity.

management. In June 2009, the Corporation introduced arequest business reports from subsidiaries and, as necessary,and professional knowledge in finance and other fields

The two standing Audit & Supervisory Board members arecorporate officer system to facilitate prompt implementation

visit them to examine the status of operations and assets.

and applies an objective, neutral perspective independent

able to audit the execution of duties by directors at all times.

of the Group strategy and strengthen the business execution

They also share information by receiving audit reports andof the Corporation in audits as a standing Outside Audit &Two of the four Audit & Supervisory Board members havestructure and strives to engage in flexible and efficientreports on the Corporation’s condition from the independent

Supervisory Board member of the Corporation. He expresses

considerable knowledge of finance and accounting. The

business operation and enhance corporate value.

auditor as needed.

opinions from this professional point of view at meetings of

Audit & Supervisory Board members share information by

The Board of Directors currently consists of twelve directors,means including the provision of audit reports and reports

one of whom is an independent outside director. The

on the Corporation’s condition to the independent auditor

Corporation’s Articles of Incorporation stipulate that thein charge of the Corporation’s financial audits as needed.

number of directors shall not exceed fifteen.

General Meeting of Shareholders
Appointment / Dismissal

Appointment / Dismissal

Board of Directors
12 Directors Including
1 Outside Director

Audit & Supervisory Board
4 Members Including
3 Outside Members

Appointment / Dismissal / Supervision

Audit

it

d
Au

Chairman

Corporate
Officer

ReportCorporate Officer, General Manager
of Administration Headquarters

Audit Report
Collaboration

Independent Auditor

Support
Audit Staff Office

President

Appointment / Dismissal

ReportAudit

8

Outside Audit & Supervisory Board Members

the Board of Directors and Audit & Supervisory Board that he
attends.

Outside Director Mr. Akiyoshi Morita formerly served

Outside Audit & Supervisory Board Member Mr. Michiyuki

successively as president and chairman and currently serves

Kondo has professional knowledge and abundant experience

as an advisor of Aichi Steel Corporation, a core company ofas an attorney. He engages in appropriate management

Toyota Group, one of the world’s leading corporate groups.

oversight and expresses opinions from this professional point

Mr. Morita attends meetings of the Corporation’s Boardof view at meetings of the Board of Directors and Audit &of Directors and performs the role of strengthening theSupervisory Board that he attends.

management oversight function based on experience andOutside Audit & Supervisory Board Member Mr. Fusahiro

knowledge as a management professional cultivated throughYamamoto is knowledgeable about corporate accounting in

his career.

his capacity as a certified public accountant.

There are no personal relationships, capital relationships,

Outside Audit & Supervisory Board Members Messrs.

or other interests between the Corporation and Mr. Morita.

Haruhito Hisatsune and Fusahiro Yamamoto hold no stock in

Although the Makita Group purchases parts from Aichi

the Corporation and have no human relationships, business

Steel Corporation, Mr. Morita’s employer, the transaction

relationships, capital relationships, or other interests with theamount in the fiscal year ended March 31, 2013 was ¥321

Corporation. Outside Audit & Supervisory Board Member Mr.

million, a small amount representing 0.1% of the consolidated

Michiyuki Kondo holds stock in the Corporation as his holding

Disclosure Committee

Internal Audit Department

Company Divisions / Group Companies

Relationships with the Outside Director and

Financial Statements Audit / Internal Control Audit

Internal Audits and Audits by Audit & Supervisoryconducts necessary internal audits as needed to maintain the

net sales of the Makita Group and the Aichi Steel Group.

in the Executive Stock Ownership Plan of the Corporation.

Board Members

soundness of the Corporation’s management. With regard to

There are no personal relationships, capital relationships, or

He has no other human relationships, business relationships,

As an independent organization in charge of theaudits by Audit & Supervisory Board members, in accordanceother interests between the Corporation and the Aichi Steelcapital relationships, or other interests with the Corporation.

Corporation’s internal audits, the Internal Audit Department

with the audit policy and division of duties established byGroup, and Mr. Morita is independent from the Corporation

Messrs. Hisatsune and Kondo were elected at the General9Corporate Governance
Overview of Corporate Governance Structure

The Corporation’s Articles of Incorporation stipulate that thethe Audit & Supervisory Board, the four Audit & Supervisory

and the Corporation’s management in charge of business

The Corporation has adopted an audit and supervisory

number of Audit & Supervisory Board members shall not

Board members attend meetings of the Board of Directors

execution. Mr. Morita was elected as a director at the Generalboard system. The Audit & Supervisory Board consists

exceed five.

and other important meetings, receive reports on operations

Meeting of Shareholders held on June 25, 2013.

of four Audit & Supervisory Board members, three offrom the directors, read important documents such as

whom are independent outside Audit & Supervisory Board

The Board of Directors determines basic policies, matters

approval requests, and examine the status of operations andOutside Audit & Supervisory Board Member Mr. Haruhito

members who are not and have not been employed by therequired by law, and important matters relating toassets at the head office and principal places of business. They

Hisatsune has many years of experience at financial institutions

Corporation, including two who serve in a part-time capacity.

management. In June 2009, the Corporation introduced arequest business reports from subsidiaries and, as necessary,and professional knowledge in finance and other fields

The two standing Audit & Supervisory Board members arecorporate officer system to facilitate prompt implementation

visit them to examine the status of operations and assets.

and applies an objective, neutral perspective independent

able to audit the execution of duties by directors at all times.

of the Group strategy and strengthen the business execution

They also share information by receiving audit reports andof the Corporation in audits as a standing Outside Audit &Two of the four Audit & Supervisory Board members havestructure and strives to engage in flexible and efficientreports on the Corporation’s condition from the independent

Supervisory Board member of the Corporation. He expresses

considerable knowledge of finance and accounting. The

business operation and enhance corporate value.

auditor as needed.

opinions from this professional point of view at meetings of

Audit & Supervisory Board members share information by

The Board of Directors currently consists of twelve directors,means including the provision of audit reports and reports

one of whom is an independent outside director. The

on the Corporation’s condition to the independent auditor

Corporation’s Articles of Incorporation stipulate that thein charge of the Corporation’s financial audits as needed.

number of directors shall not exceed fifteen.

General Meeting of Shareholders
Appointment / Dismissal

Appointment / Dismissal

Board of Directors
12 Directors Including
1 Outside Director

Audit & Supervisory Board
4 Members Including
3 Outside Members

Appointment / Dismissal / Supervision

Audit

it

d
Au

Chairman

Corporate
Officer

ReportCorporate Officer, General Manager
of Administration Headquarters

Audit Report
Collaboration

Independent Auditor

Support
Audit Staff Office

President

Appointment / Dismissal

ReportAudit

8

Outside Audit & Supervisory Board Members

the Board of Directors and Audit & Supervisory Board that he
attends.

Outside Director Mr. Akiyoshi Morita formerly served

Outside Audit & Supervisory Board Member Mr. Michiyuki

successively as president and chairman and currently serves

Kondo has professional knowledge and abundant experience

as an advisor of Aichi Steel Corporation, a core company ofas an attorney. He engages in appropriate management

Toyota Group, one of the world’s leading corporate groups.

oversight and expresses opinions from this professional point

Mr. Morita attends meetings of the Corporation’s Boardof view at meetings of the Board of Directors and Audit &of Directors and performs the role of strengthening theSupervisory Board that he attends.

management oversight function based on experience andOutside Audit & Supervisory Board Member Mr. Fusahiro

knowledge as a management professional cultivated throughYamamoto is knowledgeable about corporate accounting in

his career.

his capacity as a certified public accountant.

There are no personal relationships, capital relationships,

Outside Audit & Supervisory Board Members Messrs.

or other interests between the Corporation and Mr. Morita.

Haruhito Hisatsune and Fusahiro Yamamoto hold no stock in

Although the Makita Group purchases parts from Aichi

the Corporation and have no human relationships, business

Steel Corporation, Mr. Morita’s employer, the transaction

relationships, capital relationships, or other interests with theamount in the fiscal year ended March 31, 2013 was ¥321

Corporation. Outside Audit & Supervisory Board Member Mr.

million, a small amount representing 0.1% of the consolidated

Michiyuki Kondo holds stock in the Corporation as his holding

Disclosure Committee

Internal Audit Department

Company Divisions / Group Companies

Relationships with the Outside Director and

Financial Statements Audit / Internal Control Audit

Internal Audits and Audits by Audit & Supervisoryconducts necessary internal audits as needed to maintain the

net sales of the Makita Group and the Aichi Steel Group.

in the Executive Stock Ownership Plan of the Corporation.

Board Members

soundness of the Corporation’s management. With regard to

There are no personal relationships, capital relationships, or

He has no other human relationships, business relationships,

As an independent organization in charge of theaudits by Audit & Supervisory Board members, in accordanceother interests between the Corporation and the Aichi Steelcapital relationships, or other interests with the Corporation.

Corporation’s internal audits, the Internal Audit Department

with the audit policy and division of duties established byGroup, and Mr. Morita is independent from the Corporation

Messrs. Hisatsune and Kondo were elected at the General

9Meeting of Shareholders held on June 26, 2008 and havepurchased stock during the directors’ tenure. This means

held office for five years. Mr. Yamamoto was elected as anthat, in effect, a portion of directors’ compensation is linked

Audit & Supervisory Board member at the General Meeting

to the share price and that the management responsibility ofof Shareholders held on June 25, 2013.

directors to enhance corporate value is more clearly defined.

The Corporation has judged that there is no risk of conflict

In the interest of strengthening corporate governance,of interest with ordinary shareholders and has designateddirectors other than outside directors who have responsibility

Outside Director Mr. Akiyoshi Morita as an independent

for consolidated business results are eligible for directors’

director and Outside Audit & Supervisory Board Members

bonuses. Bonuses are linked to consolidated businessthat Makita has established a sequential cycle by which the

Messrs. Haruhito Hisatsune, Michiyuki Kondo, and Fusahiro

results to ensure the sharing of risks and returns with thesales and marketing division accurately identifies customer

Yamamoto as independent audit & supervisory board

shareholders.

needs and conveys them to the R&D division, which develops

Comments from an Outside
Audit & Supervisory Board
Memberand executives about the state of business execution,
collaborate with the independent auditor, and confirm
through auditing activities that all business activities at Makita
are being appropriately conducted.
The impression I have received to date through my auditing
activities as an Outside Audit & Supervisory Board member ismembers in accordance with the regulations of the Tokyo

new products. Then, the production division steadily proceeds

Stock Exchange and Nagoya Stock Exchange. The Corporation

Compensation of Audit & Supervisory Board members is fixedwith mass production. Makita’s establishment of a backbone

has entered into agreements with the abovementioned

to ensure independence from management, and specificin product development and manufacturing in this way is theoutside director and three Outside Audit & Supervisory Board

amounts are determined through discussion among the Audit

reason the Corporation has been able to overcome the drastic

members with respect to their liability for damages to the& Supervisory Board members.

market slump that resulted from the financial crisis triggered

Corporation as prescribed in Article 423, paragraph 1 of theHaruhito Hisatsune

by the collapse of Lehman Brothers in 2008 and rapid yen

Companies Act to limit the total amount of liabilities to theOutside Audit & Supervisory
Board Member

appreciation and achieve a swift recovery in business results insum of the amounts prescribed in the items of Article 425,

Details of Compensation for Directors andAudit & Supervisory Board Members

paragraph 1 thereof.
Category

Policy for Determining the Amounts ofCompensation for Directors and Audit &Supervisory Board Members
The monthly salaries of the Corporation’s directors are fixedcompensation paid as consideration of the execution of
the duties and responsibilities of each director. Since theelimination of the retirement bonus system for directors andauditors on June 29, 2006, the Corporation has introduced
stock price-linked compensation as part of compensation. For
directors, the Corporation contributes an amount equivalent
to the retirement bonus previously added to monthly salaries
to the Executive Stock Ownership Plan of the Corporation,

Total
compensation(millionsof yen)Total amount by compensation type(millions of yen) and number of eligible
persons
Base
No. ofNo. ofcompen- eligible
Bonuseseligiblesationpersons
persons

Directors (excluding outside
directors)

279

155

10

124

10

Audit & Supervisory Board
members (excluding Outside
Audit & Supervisory Board
members)

15

15

1

-

-

Outside directors andAudit & Supervisory Board
members

31

31

4

-

-

Notes:
1. The retirement bonus system for directors was eliminated at the time of
conclusion of the General Meeting of Shareholders held on June 29, 2006,
at which it was resolved to pay a retirement bonus at the time of retirementof each director, with specific amounts, payment method, and other details
left to the discretion of the Board of Directors.
2. In addition to the above, ¥92 million was paid as employee salaries (including
bonuses) to six directors concurrently serving as employees.

step with economic recovery.

I believe that investors expect that I, as an Outside Audit &Makita, which sells and manufactures more than 80% of its

Supervisory Board member, perform audit work while being

products overseas, is a leading global company, and this trend

constantly mindful, in my capacity as an independent board

will continue in the coming years. In these circumstances,member, of whether matters are being considered from

although Makita has comparatively few directors, top

the perspective of shareholder interest protection and, by

management travels the world over to ascertain the state

extension, to strive for enhancement of corporate governance.

of affairs and promptly raise business issues with the Boardof Directors. Fierce competition among powerful global

With these investor needs in mind, at meetings of the Board

players is certain to continue in the power tools industry,of Directors I have remained constantly aware that risks lie

and I expect Makita to prevail through the creation of high-hidden in a drastically changing market environment and at

quality products. To support this excellence in development

meetings of the Audit & Supervisory Board I have striven

and manufacturing I intend to continue to closely monitor thefor frank exchanges of opinions with the other Audit &management team in my role as an independent officer, as it

Supervisory Board members. I question individual directors

seeks to further enhance corporate governance.

acquires shares of the Corporation stock, and holds the1011Meeting of Shareholders held on June 26, 2008 and havepurchased stock during the directors’ tenure. This means

held office for five years. Mr. Yamamoto was elected as anthat, in effect, a portion of directors’ compensation is linked

Audit & Supervisory Board member at the General Meeting

to the share price and that the management responsibility ofof Shareholders held on June 25, 2013.

directors to enhance corporate value is more clearly defined.

The Corporation has judged that there is no risk of conflict

In the interest of strengthening corporate governance,of interest with ordinary shareholders and has designateddirectors other than outside directors who have responsibility

Outside Director Mr. Akiyoshi Morita as an independent

for consolidated business results are eligible for directors’

director and Outside Audit & Supervisory Board Members

bonuses. Bonuses are linked to consolidated businessthat Makita has established a sequential cycle by which the

Messrs. Haruhito Hisatsune, Michiyuki Kondo, and Fusahiro

results to ensure the sharing of risks and returns with thesales and marketing division accurately identifies customer

Yamamoto as independent audit & supervisory board

shareholders.

needs and conveys them to the R&D division, which develops

Comments from an Outside
Audit & Supervisory Board
Memberand executives about the state of business execution,
collaborate with the independent auditor, and confirm
through auditing activities that all business activities at Makita
are being appropriately conducted.
The impression I have received to date through my auditing
activities as an Outside Audit & Supervisory Board member ismembers in accordance with the regulations of the Tokyo

new products. Then, the production division steadily proceeds

Stock Exchange and Nagoya Stock Exchange. The Corporation

Compensation of Audit & Supervisory Board members is fixedwith mass production. Makita’s establishment of a backbone

has entered into agreements with the abovementioned

to ensure independence from management, and specificin product development and manufacturing in this way is theoutside director and three Outside Audit & Supervisory Board

amounts are determined through discussion among the Audit

reason the Corporation has been able to overcome the drastic

members with respect to their liability for damages to the& Supervisory Board members.

market slump that resulted from the financial crisis triggered

Corporation as prescribed in Article 423, paragraph 1 of theHaruhito Hisatsune

by the collapse of Lehman Brothers in 2008 and rapid yen

Companies Act to limit the total amount of liabilities to theOutside Audit & Supervisory
Board Member

appreciation and achieve a swift recovery in business results insum of the amounts prescribed in the items of Article 425,

Details of Compensation for Directors andAudit & Supervisory Board Members

paragraph 1 thereof.
Category

Policy for Determining the Amounts ofCompensation for Directors and Audit &Supervisory Board Members
The monthly salaries of the Corporation’s directors are fixedcompensation paid as consideration of the execution of
the duties and responsibilities of each director. Since theelimination of the retirement bonus system for directors andauditors on June 29, 2006, the Corporation has introduced
stock price-linked compensation as part of compensation. For
directors, the Corporation contributes an amount equivalent
to the retirement bonus previously added to monthly salaries
to the Executive Stock Ownership Plan of the Corporation,

Total
compensation(millionsof yen)Total amount by compensation type(millions of yen) and number of eligible
persons
Base
No. ofNo. ofcompen- eligible
Bonuseseligiblesationpersons
persons

Directors (excluding outside
directors)

279

155

10

124

10

Audit & Supervisory Board
members (excluding Outside
Audit & Supervisory Board
members)

15

15

1

-

-

Outside directors andAudit & Supervisory Board
members

31

31

4

-

-

Notes:
1. The retirement bonus system for directors was eliminated at the time of
conclusion of the General Meeting of Shareholders held on June 29, 2006,
at which it was resolved to pay a retirement bonus at the time of retirementof each director, with specific amounts, payment method, and other details
left to the discretion of the Board of Directors.
2. In addition to the above, ¥92 million was paid as employee salaries (including
bonuses) to six directors concurrently serving as employees.

step with economic recovery.

I believe that investors expect that I, as an Outside Audit &Makita, which sells and manufactures more than 80% of its

Supervisory Board member, perform audit work while being

products overseas, is a leading global company, and this trend

constantly mindful, in my capacity as an independent board

will continue in the coming years. In these circumstances,member, of whether matters are being considered from

although Makita has comparatively few directors, top

the perspective of shareholder interest protection and, by

management travels the world over to ascertain the state

extension, to strive for enhancement of corporate governance.

of affairs and promptly raise business issues with the Boardof Directors. Fierce competition among powerful global

With these investor needs in mind, at meetings of the Board

players is certain to continue in the power tools industry,of Directors I have remained constantly aware that risks lie

and I expect Makita to prevail through the creation of high-hidden in a drastically changing market environment and at

quality products. To support this excellence in development

meetings of the Audit & Supervisory Board I have striven

and manufacturing I intend to continue to closely monitor thefor frank exchanges of opinions with the other Audit &management team in my role as an independent officer, as it

Supervisory Board members. I question individual directors

seeks to further enhance corporate governance.

acquires shares of the Corporation stock, and holds the10

11Directors, Audit & Supervisory Board
Members and Corporate Officers (as of June 25, 2013)
Directors and Audit & Supervisory Board Members

Environmental Topics
As a global supplier of a comprehensive range of power tools that assist people in creating homes andliving environments, it is vital that we consider the environmental impact of each person's lifestyle andCorporate Officers

recognize that environmental issues such as global warming concern us directly. The entire Makita Group

Directors

Toshio Hyuga

is working to create a sustainable recycling-oriented society that combines the environment with the* Chairman

General Manager of Domestic Sales Marketing Headquarters: Osaka Area

economy by reviewing our business activities and lifestyles from the ground up.

Masahiko Goto
* President
Shiro Hori
Director, Managing Corporate Officer
Tadayoshi Torii
In charge of Production and General Manager of Production Headquarters

Director, Corporate Officer
Tomoyasu Kato
General Manager of Research and Development Headquarters

Tadashi Asanuma
In charge of Domestic Sales and General Manager of Domestic Sales
Marketing Headquarters

Hisayoshi Niwa
General Manager of Quality Headquarters

Shinichiro Tomita

Tamiro Kishima
In charge of OPE **Tim Donovan
President of Makita Corporation of America and in charge of Brazil Plant

Takashi Omote

Support for Events Held at the Zero Carbon Building

In charge of Central and South America Sales and President of Makita do
Brasil Ferramentas Elétricas Ltda.

(Hong Kong)

Takashi Tsuchiya

Makita Hong Kong provided support for Mega Fun Day, an event

General Manager of Domestic Sales Marketing Headquarters: Tokyo Area

Yasushi Fukaya
In charge of Europe Sales** OPE stands for “Outdoor Power Equipment,” which is used for outdoor work suchgardening, agriculture and forestry.

held by the Hong Kong Construction Industry Council on November
17 and 18, 2012, at the CIC Zero Carbon Building (ZCB) withsupport from the Government of Hong Kong Development Bureau.
The ZCB, opened in June 2012 as a showcase for sustainable
construction and environmental protection, is the first building in

General Manager of Purchasing Headquarters

Hong Kong with effectively zero CO2 emissions. At Mega Fun Day,

Tetsuhisa Kaneko

Makita publicized its environmental protection and work safety

General Manager of Production Headquarters (in charge of China Plant)

activities using panels, product exhibits, and presentations.

Yoji Aoki
General Manager of Administration Headquarters

Tomoyuki Ota
Assistant General Manager of Research and Development Headquarters

Munetoshi Goto
General Manager of International Sales Headquarters

Outside Directors
Akiyoshi Morita
Advisor of Aichi Steel Corporation

Makita Hong Kong also supports the Rechargeable Battery
Recycling Programme run by the Government of Hong Kong
Environmental Protection Department. The Makita logo can be seenon the program’s posters at subway stations and other locations inHong Kong.

* denotes Representative Director.

Audit & Supervisory Board Members

Standing Audit & Supervisory Board Members
Toshihito Yamazoe
Haruhito Hisatsune
Audit & Supervisory Board Members
Michiyuki Kondo(Attorney at Law)

Fusahiro Yamamoto(Certified Public Accountant)
Messrs. Haruhito Hisatsune, Michiyuki Kondo, and Fusahiro Yamamoto
are Outside Audit & Supervisory Board Members.

12

Production and Distribution of Shopping Bags with a “Go Green”
Logo (Belgium)
Since 2011, Makita Belgium has produced and distributed at trade shows andother venues shopping bags printed with the logo “Go Green.” The objective is tomake people aware of the catch phrase “Go Green” and deepen understandingof Makita’s environmental activities.

13Directors, Audit & Supervisory Board
Members and Corporate Officers (as of June 25, 2013)
Directors and Audit & Supervisory Board Members

Environmental Topics
As a global supplier of a comprehensive range of power tools that assist people in creating homes andliving environments, it is vital that we consider the environmental impact of each person's lifestyle andCorporate Officers

recognize that environmental issues such as global warming concern us directly. The entire Makita Group

Directors

Toshio Hyuga

is working to create a sustainable recycling-oriented society that combines the environment with the* Chairman

General Manager of Domestic Sales Marketing Headquarters: Osaka Area

economy by reviewing our business activities and lifestyles from the ground up.

Masahiko Goto
* President
Shiro Hori
Director, Managing Corporate Officer
Tadayoshi Torii
In charge of Production and General Manager of Production Headquarters

Director, Corporate Officer
Tomoyasu Kato
General Manager of Research and Development Headquarters

Tadashi Asanuma
In charge of Domestic Sales and General Manager of Domestic Sales
Marketing Headquarters

Hisayoshi Niwa
General Manager of Quality Headquarters

Shinichiro Tomita

Tamiro Kishima
In charge of OPE **Tim Donovan
President of Makita Corporation of America and in charge of Brazil Plant

Takashi Omote

Support for Events Held at the Zero Carbon Building

In charge of Central and South America Sales and President of Makita do
Brasil Ferramentas Elétricas Ltda.

(Hong Kong)

Takashi Tsuchiya

Makita Hong Kong provided support for Mega Fun Day, an event

General Manager of Domestic Sales Marketing Headquarters: Tokyo Area

Yasushi Fukaya
In charge of Europe Sales** OPE stands for “Outdoor Power Equipment,” which is used for outdoor work suchgardening, agriculture and forestry.

held by the Hong Kong Construction Industry Council on November
17 and 18, 2012, at the CIC Zero Carbon Building (ZCB) withsupport from the Government of Hong Kong Development Bureau.
The ZCB, opened in June 2012 as a showcase for sustainable
construction and environmental protection, is the first building in

General Manager of Purchasing Headquarters

Hong Kong with effectively zero CO2 emissions. At Mega Fun Day,

Tetsuhisa Kaneko

Makita publicized its environmental protection and work safety

General Manager of Production Headquarters (in charge of China Plant)

activities using panels, product exhibits, and presentations.

Yoji Aoki
General Manager of Administration Headquarters

Tomoyuki Ota
Assistant General Manager of Research and Development Headquarters

Munetoshi Goto
General Manager of International Sales Headquarters

Outside Directors
Akiyoshi Morita
Advisor of Aichi Steel Corporation

Makita Hong Kong also supports the Rechargeable Battery
Recycling Programme run by the Government of Hong Kong
Environmental Protection Department. The Makita logo can be seenon the program’s posters at subway stations and other locations inHong Kong.

* denotes Representative Director.

Audit & Supervisory Board Members

Standing Audit & Supervisory Board Members
Toshihito Yamazoe
Haruhito Hisatsune
Audit & Supervisory Board Members
Michiyuki Kondo(Attorney at Law)

Fusahiro Yamamoto(Certified Public Accountant)
Messrs. Haruhito Hisatsune, Michiyuki Kondo, and Fusahiro Yamamoto
are Outside Audit & Supervisory Board Members.

12

Production and Distribution of Shopping Bags with a “Go Green”
Logo (Belgium)
Since 2011, Makita Belgium has produced and distributed at trade shows andother venues shopping bags printed with the logo “Go Green.” The objective is tomake people aware of the catch phrase “Go Green” and deepen understandingof Makita’s environmental activities.

13

Environment-Conscious Designs

Approaches to Local Communities

Makita designs and develops environment-conscious products. One new product developed in fiscal 2013 is a power cutter powered

Makita is involved in business on a global scale, and contributes to communities with a wide range of cultures. The Makita brand is inby the Makita MM4 (mini 4-stroke engine). The MM4 offers excellent environmental protection performance and economy byuse in countries all over the world and in a variety of fields, from construction sites in industrialized countries and urban development

reducing noise, emissions, and fuel consumption. The cutter also features a vibration-reducing structure that decreases the adverse

projects of newly emerging economies that have been experiencing rapid growth, to sporting events and community activities.

effects of vibration on users.

Developing close ties to regional communities in all parts of the world and becoming an integral part of people’s lives – that is
Makita’s objective.

Power Cutter
EK7651H

Support for “Logging Championship” (Romania)
To increase awareness of Makita’s contributions to promoteforestry and gardening equipment, since 2012, Makita Romania
has provided petrol chain saws for a “Logging Championship”
organized and sponsored by National Administration of the Forest.

Makita Woodcraft Club supported Aichi
Prefecture’s woodworking workshop
On August 4, a woodworking workshop for children titled“Come on, future inventors!” organized by Aichi Prefecture
was held in the Expo 2005 Aichi Commemorative Park.
Makita Mini 4-Stroke Engine (MM4)

Members of Makita Woodcraft Club assisted the workshop as

MM4 is a small 4-stroke engine. As a 4-stroke engine, it features high fuel efficiency and clean exhaust emission. It is also as small andwoodworking instructors and advisors.

powerful as a conventional 2-stroke engine. The emission level of HC + NOx (hydrocarbons plus nitrogen oxides) is ten times lower than

Sale of products in Brazil’s

Makita staff members explained to the children and theirfrom a conventional 2-stroke engine, and it is much lower than the strict emissions limit set in the United States and Europe.

national colors (Brazil)

parents how to use the electric tools and assisted them in each

In Brazil, where excitement is building to a

step from cutting materials to finishing.

feverish pitch leading up to the 2014 FIFAChildren were excited by theWorld Cup Brazil, Makita Brazil is selling

experience of using power

original products that proudly bear Brazil’s

tools for the first time in theirnational colors, yellow and green, andlives. This event was a good

Today we improve the energy efficiency of products, reduce weight, extend product life, and use environment-conscious materials to develop,

include “2014” in their model numbers.

opportunity to communicate

manufacture, and sell products that are recyclable or safe for disposal.

These localized products have been well

to children the joy of making

received in the market.

things.

Environment-Conscious Design Concepts
Makita’s concept for environment-conscious products began with an assessment of products in 1992, and environment-conscious design began inearnest with the launch of Makita’s global environment charter in 1993.

14

15

Environment-Conscious Designs

Approaches to Local Communities

Makita designs and develops environment-conscious products. One new product developed in fiscal 2013 is a power cutter powered

Makita is involved in business on a global scale, and contributes to communities with a wide range of cultures. The Makita brand is inby the Makita MM4 (mini 4-stroke engine). The MM4 offers excellent environmental protection performance and economy byuse in countries all over the world and in a variety of fields, from construction sites in industrialized countries and urban development

reducing noise, emissions, and fuel consumption. The cutter also features a vibration-reducing structure that decreases the adverse

projects of newly emerging economies that have been experiencing rapid growth, to sporting events and community activities.

effects of vibration on users.

Developing close ties to regional communities in all parts of the world and becoming an integral part of people’s lives – that is
Makita’s objective.

Power Cutter
EK7651H

Support for “Logging Championship” (Romania)
To increase awareness of Makita’s contributions to promoteforestry and gardening equipment, since 2012, Makita Romania
has provided petrol chain saws for a “Logging Championship”
organized and sponsored by National Administration of the Forest.

Makita Woodcraft Club supported Aichi
Prefecture’s woodworking workshop
On August 4, a woodworking workshop for children titled“Come on, future inventors!” organized by Aichi Prefecture
was held in the Expo 2005 Aichi Commemorative Park.
Makita Mini 4-Stroke Engine (MM4)

Members of Makita Woodcraft Club assisted the workshop as

MM4 is a small 4-stroke engine. As a 4-stroke engine, it features high fuel efficiency and clean exhaust emission. It is also as small andwoodworking instructors and advisors.

powerful as a conventional 2-stroke engine. The emission level of HC + NOx (hydrocarbons plus nitrogen oxides) is ten times lower than

Sale of products in Brazil’s

Makita staff members explained to the children and theirfrom a conventional 2-stroke engine, and it is much lower than the strict emissions limit set in the United States and Europe.

national colors (Brazil)

parents how to use the electric tools and assisted them in each

In Brazil, where excitement is building to a

step from cutting materials to finishing.

feverish pitch leading up to the 2014 FIFAChildren were excited by theWorld Cup Brazil, Makita Brazil is selling

experience of using power

original products that proudly bear Brazil’s

tools for the first time in theirnational colors, yellow and green, andlives. This event was a good

Today we improve the energy efficiency of products, reduce weight, extend product life, and use environment-conscious materials to develop,

include “2014” in their model numbers.

opportunity to communicate

manufacture, and sell products that are recyclable or safe for disposal.

These localized products have been well

to children the joy of making

received in the market.

things.

Environment-Conscious Design Concepts
Makita’s concept for environment-conscious products began with an assessment of products in 1992, and environment-conscious design began inearnest with the launch of Makita’s global environment charter in 1993.

14

15

10-Year Summary
Yen in millions
2004

2005

U.S. Dollars
in thousands
2013

Yen in millions
2006

2007

2008

2009

2010

2011

2012

2013

For the years ended March 31,
Net Sales
Domestic
Overseas
Operating Income
Income Before Income Taxes
Net Income Attributable to Makita Corporation¥184,117
39,142
144,975
14,696
16,1707,691¥194,737
39,379155,358
31,39832,61822,136¥229,075
41,600187,475
45,77849,36740,411¥ 279,933
46,860233,073
48,17649,72436,971¥342,577
52,193
290,384
67,031
66,23746,043¥294,034
46,222
247,81250,07544,44333,286¥245,823
42,697203,126
30,39033,51822,258¥272,630
46,065
226,565
41,90942,73029,905¥ 295,711
53,175242,536
48,516
46,96332,497¥ 309,630
56,555
253,075
45,36645,691
31,076$3,293,936
601,649
2,692,287
482,617
486,074
330,596

Net Cash Provided by Operating Activities
Net Cash Provided by (Used in) Investing Activities
Free Cash FlowsNet Cash Used in Financing Activities

28,941(17,262)
11,679(6,596)

16,842
154
16,996(16,177)

25,067
7,655
32,722(19,548)

32,360(27,276)
5,084(8,307)29,275(4,508)24,767(13,815)

22,178232
22,410(33,179)

57,126(17,668)
39,458(9,114)

19,617(19,334)
283(7,355)

8,622(4,500)4,122(12,707)38,364(15,414)
22,950(10,650)

408,128(163,979)
244,149(113,298)

Capital Expenditures
Depreciation and Amortization
R&D Costs

4,494
7,963
4,377

6,655
5,381
4,446

11,383
5,922
4,826

12,9808,773
5,460

15,036
8,871
5,922

17,0468,887
6,883

10,837
8,308
6,782

9,742
7,557
7,283

13,481
7,237
7,603

11,481
7,542
8,396

122,138
80,23489,319As of March 31,
Total Assets
Net Working Capital
Total Makita Corporation Shareholders’ Equity
Interest-Bearing Debt

¥278,116
147,822
193,348
21,492¥289,904
149,666
219,640
9,148¥326,038
181,808
266,584
1,832¥368,494
212,183
302,675
1,945¥386,467
230,699
316,498
2,632¥336,644
199,586
283,485
1,057¥349,839
211,336
297,207929¥372,507
219,270
307,149
887¥383,256
223,045
321,2532,363¥ 440,974
266,950
373,543
1,703$4,691,213
2,839,894
3,973,862
18,117

Per Share Amounts：
Earnings per Share of Common Stock and per ADS: Basic
Total Shareholders’ Equity
Cash Dividends Applicable to the Year¥ 53.2
1,343.7
22.0

¥

¥

¥

¥

¥

¥

¥

¥

¥

Other data：
Ratio of Operating Income to Net Sales
Return on Equity (ROE)
Return on Assets (ROA)
Shareholders’ Equity Ratio
Average Number of Shares Outstanding
Number of Outstanding Shares Excluding Treasury Stock
Employees

8.0%
4.1%
2.8%
69.5%
144,682,696
143,893,191
8,433

Yen

153.9
1,527.6
47.0

16.1%
10.7%
7.8%
75.8%
143,844,383
143,777,607
8,560

Yen

281.1
1,855.0
57.0

20.0%
16.6%
13.1%
81.8%
143,736,927
147,711,766
8,629

257.3
2,106.3
74.0

17.2%
13.0%
10.6%
82.1%
143,706,789
143,701,279
9,062

320.3
2,201.3
97.0

19.6%
14.9%
12.2%
81.9%
143,749,824
143,773,625
10,436236.9
2,057.8
80.0

17.0%
11.1%
9.2%
84.2%
140,518,582
137,764,005
10,412161.6
2,157.4
52.0

12.4%
7.7%
6.5%
85.0%
137,762,051
137,760,402
10,328

U.S. Dollars

217.1
2,229.6
66.0

15.4%
9.9%
8.3%
82.5%
137,759,272
137,757,699
12,054236.8
2,366.5
72.0

16.4%
10.3%
8.6%
83.8%
137,244,683
135,750,518
12,563228.9
2,751.8
69.0

$

2.44
29.27
0.73

14.7%
8.9%
7.5%
84.7%
135,748,088
135,745,927
12,6801. The U.S. dollar amounts above and elsewhere in this report represent translations, for the convenience of the reader, at the rate of ¥94 to US$1.
2. Consolidated financial statements are prepared in accordance with United States Generally Accepted Accounting Principles.
Certain reclassifications have been made to the consolidated financial statements for the years ended March 31, 2006, 2007, 2008 and 2009 to conform with the presentation used
for the year ended March 31, 2010. The meaning of “Net income attributable to Makita Corporation” is the same as the former “Net income.”
3. Net income attributable to Makita Corporation per share is computed based on the average number of common stock outstanding during the term.
4. Amounts of less than ¥1 million have been rounded.

Net Sales (¥ millions)Operating Income (¥ millions)309,630
295,711
294,034
272,630
245,823

50,07548,51645,366
41,909Net Income Attributable to
Makita Corporation (¥ millions)

32,49731,07629,90533,286

Total Makita Corporation
Shareholders’ Equity (¥ millions)

17,046

57,12639,458
19,617

22,178283

232(17,668)

’0 9

’10

’11

’12

’13

’0 9

’10

’11

’12

’13

’0 9

’10

’11

’12

’13

’0 9

’10

’11

’12

16

22,9504,122(4,500)

’10

6,883

’12

9,742
7,283
6,782

7,603

8,396

Cash flows from operating activities(15,414)(19,334)’11

11,481

10,837

8,622

’13
’09

13,48138,364

22,41022,25830,390Capital Expenditures R&D Costs (¥ millions)Free Cash Flows (¥ millions)373,543
321,253
297,207
307,149
283,485’13

Cash flows from investing activities
Free cash flows(Combined total of cash flows from operating and investing activities)

’09

’10

’11

Capital expenditures

’12

’13
R&D costs

17

10-Year Summary
Yen in millions
2004

2005

U.S. Dollars
in thousands
2013

Yen in millions
2006

2007

2008

2009

2010

2011

2012

2013

For the years ended March 31,
Net Sales
Domestic
Overseas
Operating Income
Income Before Income Taxes
Net Income Attributable to Makita Corporation¥184,117
39,142
144,975
14,696
16,1707,691¥194,737
39,379155,358
31,39832,61822,136¥229,075
41,600187,475
45,77849,36740,411¥ 279,933
46,860233,073
48,17649,72436,971¥342,577
52,193
290,384
67,031
66,23746,043¥294,034
46,222
247,81250,07544,44333,286¥245,823
42,697203,126
30,39033,51822,258¥272,630
46,065
226,565
41,90942,73029,905¥ 295,711
53,175242,536
48,516
46,96332,497¥ 309,630
56,555
253,075
45,36645,691
31,076$3,293,936
601,649
2,692,287
482,617
486,074
330,596

Net Cash Provided by Operating Activities
Net Cash Provided by (Used in) Investing Activities
Free Cash FlowsNet Cash Used in Financing Activities

28,941(17,262)
11,679(6,596)

16,842
154
16,996(16,177)

25,067
7,655
32,722(19,548)

32,360(27,276)
5,084(8,307)29,275(4,508)24,767(13,815)

22,178232
22,410(33,179)

57,126(17,668)
39,458(9,114)

19,617(19,334)
283(7,355)

8,622(4,500)4,122(12,707)38,364(15,414)
22,950(10,650)

408,128(163,979)
244,149(113,298)

Capital Expenditures
Depreciation and Amortization
R&D Costs

4,494
7,963
4,377

6,655
5,381
4,446

11,383
5,922
4,826

12,9808,773
5,460

15,036
8,871
5,922

17,0468,887
6,883

10,837
8,308
6,782

9,742
7,557
7,283

13,481
7,237
7,603

11,481
7,542
8,396

122,138
80,23489,319As of March 31,
Total Assets
Net Working Capital
Total Makita Corporation Shareholders’ Equity
Interest-Bearing Debt

¥278,116
147,822
193,348
21,492¥289,904
149,666
219,640
9,148¥326,038
181,808
266,584
1,832¥368,494
212,183
302,675
1,945¥386,467
230,699
316,498
2,632¥336,644
199,586
283,485
1,057¥349,839
211,336
297,207929¥372,507
219,270
307,149
887¥383,256
223,045
321,2532,363¥ 440,974
266,950
373,543
1,703$4,691,213
2,839,894
3,973,862
18,117

Per Share Amounts：
Earnings per Share of Common Stock and per ADS: Basic
Total Shareholders’ Equity
Cash Dividends Applicable to the Year¥ 53.2
1,343.7
22.0

¥

¥

¥

¥

¥

¥

¥

¥

¥

Other data：
Ratio of Operating Income to Net Sales
Return on Equity (ROE)
Return on Assets (ROA)
Shareholders’ Equity Ratio
Average Number of Shares Outstanding
Number of Outstanding Shares Excluding Treasury Stock
Employees

8.0%
4.1%
2.8%
69.5%
144,682,696
143,893,191
8,433

Yen

153.9
1,527.6
47.0

16.1%
10.7%
7.8%
75.8%
143,844,383
143,777,607
8,560

Yen

281.1
1,855.0
57.0

20.0%
16.6%
13.1%
81.8%
143,736,927
147,711,766
8,629

257.3
2,106.3
74.0

17.2%
13.0%
10.6%
82.1%
143,706,789
143,701,279
9,062

320.3
2,201.3
97.0

19.6%
14.9%
12.2%
81.9%
143,749,824
143,773,625
10,436236.9
2,057.8
80.0

17.0%
11.1%
9.2%
84.2%
140,518,582
137,764,005
10,412161.6
2,157.4
52.0

12.4%
7.7%
6.5%
85.0%
137,762,051
137,760,402
10,328

U.S. Dollars

217.1
2,229.6
66.0

15.4%
9.9%
8.3%
82.5%
137,759,272
137,757,699
12,054236.8
2,366.5
72.0

16.4%
10.3%
8.6%
83.8%
137,244,683
135,750,518
12,563228.9
2,751.8
69.0

$

2.44
29.27
0.73

14.7%
8.9%
7.5%
84.7%
135,748,088
135,745,927
12,6801. The U.S. dollar amounts above and elsewhere in this report represent translations, for the convenience of the reader, at the rate of ¥94 to US$1.
2. Consolidated financial statements are prepared in accordance with United States Generally Accepted Accounting Principles.
Certain reclassifications have been made to the consolidated financial statements for the years ended March 31, 2006, 2007, 2008 and 2009 to conform with the presentation used
for the year ended March 31, 2010. The meaning of “Net income attributable to Makita Corporation” is the same as the former “Net income.”
3. Net income attributable to Makita Corporation per share is computed based on the average number of common stock outstanding during the term.
4. Amounts of less than ¥1 million have been rounded.

Net Sales (¥ millions)Operating Income (¥ millions)309,630
295,711
294,034
272,630
245,823

50,07548,51645,366
41,909Net Income Attributable to
Makita Corporation (¥ millions)

32,49731,07629,90533,286

Total Makita Corporation
Shareholders’ Equity (¥ millions)

17,046

57,12639,458
19,617

22,178283

232(17,668)

’0 9

’10

’11

’12

’13

’0 9

’10

’11

’12

’13

’0 9

’10

’11

’12

’13

’0 9

’10

’11

’12

16

22,9504,122(4,500)

’10

6,883

’12

9,742
7,283
6,782

7,603

8,396

Cash flows from operating activities(15,414)(19,334)’11

11,481

10,837

8,622

’13
’09

13,48138,364

22,41022,25830,390Capital Expenditures R&D Costs (¥ millions)Free Cash Flows (¥ millions)373,543
321,253
297,207
307,149
283,485’13

Cash flows from investing activities
Free cash flows(Combined total of cash flows from operating and investing activities)

’09

’10

’11

Capital expenditures

’12

’13
R&D costs

17

Consolidated Balance Sheets
MAKITA CORPORATION AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETSAS OF MARCH 31, 2012 AND 2013
Yen in millions
2012

U.S. Dollars in thousands
2013

2013

ASSETS

CURRENT ASSETS:
Cash and cash equivalents
Time deposits
Short-term investments
Trade receivables- Notes- Accounts
Less-Allowance for doubtful receivables
Inventories
Deferred income taxes
Prepaid expenses and other current assets
Total current assets

PROPERTY, PLANT AND EQUIPMENT, AT COST:Land
Building and improvements
Machinery and equipment
Construction in progress
SubtotalLess-Accumulated depreciation and amortization
Total net property, plant and equipment

INVESTMENTS AND OTHER ASSETS:
Investments
Goodwill
Other intangible assets, net
Deferred income taxes
Other assets
Total investments and other assets
Total assets

18

Yen in millions
2012

U.S. Dollars in thousands
2013

2013

LIABILITIES¥ 44,812
13,50425,125
1,769
48,445(753)
129,571
5,898
8,392
276,763

20,49873,33275,4606,594
175,884(98,146)
77,738¥ 62,283
13,26238,0601,398
53,583(899)
138,9535,533
11,102
323,275

22,71084,48280,484
3,349
191,025(104,740)
86,285$662,585
141,085
404,894
14,872570,032(9,564)
1,478,224
58,862
118,106
3,439,096

241,596
898,745856,21335,6272,032,181(1,114,255)
917,926

19,154
721
4,515
853
3,512
28,755

18,461
721
4,549
961
6,722
31,414

196,393
7,670
48,394
10,22371,511
334,191¥ 383,256¥ 440,974$ 4,691,213

CURRENT LIABILITIES:
Short-term borrowings
Trade notes and accounts payable
Other payables
Accrued expenses
Accrued payroll
Income taxes payable
Deferred income taxes
Other liabilities
Total current liabilities
LONG-TERM LIABILITIES:Long-term indebtedness
Accrued retirement and termination benefits
Deferred income taxes
Other liabilities
Total long-term liabilities
Total liabilities
COMMITMENTS AND CONTINGENT LIABILITIES

¥

2,351
21,822
4,313
6,314
7,803
5,293
125
5,697
53,718¥

1,695
21,910
5,556
7,148
8,295
5,221
129
6,371
56,325$18,032233,085
59,10676,042
88,24555,543
1,372
67,777599,202

12
3,027
130
2,591
5,760
59,478

8
3,513
3,136
1,660
8,317
64,642

85
37,37233,362
17,66088,479687,681---

23,80523,805

253,245

45,421
5,669
316,937(59,066)

45,421
5,669
338,239(28,064)

483,20260,3093,598,287(298,553)(11,513)321,2532,525
323,778(11,527)
373,543
2,789
376,332(122,628)
3,973,862
29,6704,003,532¥ 383,256¥ 440,974$ 4,691,213

EQUITYMAKITA CORPORATION SHAREHOLDERS’ EQUITY:
Common stock, authorized - 496,000,000 shares
Issued and outstanding- 140,008,760 and 135,750,518 shares, respectively
in 2012
Issued and outstanding- 140,008,760 and 135,745,927 shares, respectively
in 2013Additional paid-in capital
Legal reserve
Retained earnings
Accumulated other comprehensive income (loss)
Treasury stock, at cost - 4,258,242 shares in 2012
- 4,262,833 shares in 2013
Total Makita Corporation shareholders’ equity
NON-CONTROLLING INTEREST
Total equity
Total liabilities and equity

19Consolidated Balance Sheets
MAKITA CORPORATION AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETSAS OF MARCH 31, 2012 AND 2013
Yen in millions
2012

U.S. Dollars in thousands
2013

2013

ASSETS

CURRENT ASSETS:
Cash and cash equivalents
Time deposits
Short-term investments
Trade receivables- Notes- Accounts
Less-Allowance for doubtful receivables
Inventories
Deferred income taxes
Prepaid expenses and other current assets
Total current assets

PROPERTY, PLANT AND EQUIPMENT, AT COST:Land
Building and improvements
Machinery and equipment
Construction in progress
SubtotalLess-Accumulated depreciation and amortization
Total net property, plant and equipment

INVESTMENTS AND OTHER ASSETS:
Investments
Goodwill
Other intangible assets, net
Deferred income taxes
Other assets
Total investments and other assets
Total assets

18

Yen in millions
2012

U.S. Dollars in thousands
2013

2013

LIABILITIES¥ 44,812
13,50425,125
1,769
48,445(753)
129,571
5,898
8,392
276,763

20,49873,33275,4606,594
175,884(98,146)
77,738¥ 62,283
13,26238,0601,398
53,583(899)
138,9535,533
11,102
323,275

22,71084,48280,484
3,349
191,025(104,740)
86,285$662,585
141,085
404,894
14,872570,032(9,564)
1,478,224
58,862
118,106
3,439,096

241,596
898,745856,21335,6272,032,181(1,114,255)
917,926

19,154
721
4,515
853
3,512
28,755

18,461
721
4,549
961
6,722
31,414

196,393
7,670
48,394
10,22371,511
334,191¥ 383,256¥ 440,974$ 4,691,213

CURRENT LIABILITIES:
Short-term borrowings
Trade notes and accounts payable
Other payables
Accrued expenses
Accrued payroll
Income taxes payable
Deferred income taxes
Other liabilities
Total current liabilities
LONG-TERM LIABILITIES:Long-term indebtedness
Accrued retirement and termination benefits
Deferred income taxes
Other liabilities
Total long-term liabilities
Total liabilities
COMMITMENTS AND CONTINGENT LIABILITIES

¥

2,351
21,822
4,313
6,314
7,803
5,293
125
5,697
53,718¥

1,695
21,910
5,556
7,148
8,295
5,221
129
6,371
56,325$18,032233,085
59,10676,042
88,24555,543
1,372
67,777599,202

12
3,027
130
2,591
5,760
59,478

8
3,513
3,136
1,660
8,317
64,642

85
37,37233,362
17,66088,479687,681---

23,80523,805

253,245

45,421
5,669
316,937(59,066)

45,421
5,669
338,239(28,064)

483,20260,3093,598,287(298,553)(11,513)321,2532,525
323,778(11,527)
373,543
2,789
376,332(122,628)
3,973,862
29,6704,003,532¥ 383,256¥ 440,974$ 4,691,213

EQUITYMAKITA CORPORATION SHAREHOLDERS’ EQUITY:
Common stock, authorized - 496,000,000 shares
Issued and outstanding- 140,008,760 and 135,750,518 shares, respectively
in 2012
Issued and outstanding- 140,008,760 and 135,745,927 shares, respectively
in 2013Additional paid-in capital
Legal reserve
Retained earnings
Accumulated other comprehensive income (loss)
Treasury stock, at cost - 4,258,242 shares in 2012
- 4,262,833 shares in 2013
Total Makita Corporation shareholders’ equity
NON-CONTROLLING INTEREST
Total equity
Total liabilities and equity

19Consolidated Statements of Income

Consolidated Statements of Changes in Equity

MAKITA CORPORATION AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF INCOME
FOR THE YEARS ENDED MARCH 31, 2011, 2012 AND 2013

MAKITA CORPORATION AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
FOR THE YEARS ENDED MARCH 31, 2011, 2012 AND 2013
Yen in millions
2012

2011

NET SALES
Cost of sales
GROSS PROFIT
Selling, general, administrative and others, net
OPERATING INCOME
OTHER INCOME (EXPENSE):
Interest and dividend income
Interest expense
Exchange gains (losses) on foreign currencytransactions, net
Realized gains (losses) on securities, net
Total other income (expense), net
INCOME BEFORE INCOME TAXES
Provision for income taxes : Current: Deferred
Total income tax expense
NET INCOME
Less-Net income attributable to the non-controllinginterest
NET INCOME ATTRIBUTABLE TO MAKITACORPORATIONPER SHARE OF COMMON STOCK AND ADS:
Earnings per share: Basic
Cash dividends per share paid for the year

U.S. Dollars in thousands
2013

2013

¥ 272,630
167,851
104,779
62,87041,909¥ 295,711
180,541
115,170
66,654
48,516¥ 309,630
194,859
114,771
69,40545,366$ 3,293,936
2,072,968
1,220,968
738,351482,617

1,313
(33)

1,491
(242)

1,732
(180)

18,425(1,915)(591)(2,150)(1,324)(14,085)132821
42,73011,0941,365
12,45930,271(652)(1,553)
46,963
14,309(135)
14,17432,78997
325
45,691
13,206
1,301
14,50731,1841,032
3,457
486,074
140,489
13,840154,329
331,745

366

292

108

1,149

¥ 29,905¥ 32,497¥ 31,076

Yen¥ 217.1¥ 52.0$330,596

U.S. Dollars¥ 236.8¥ 66.0¥ 228.9¥ 72.0$ 2.44$ 0.77

Consolidated Statements of Comprehensive Income
MAKITA CORPORATION AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
FOR THE YEARS ENDED MARCH 31, 2011, 2012 AND 2013
Yen in millions
2012

2011

NET INCOME

U.S. Dollars in thousands
2013

2013

¥ 30,271¥ 32,789¥ 31,184$ 331,745(11,716)(4,952)

27,740295,106

(838)

487

2,699

28,713(405)(12,959)
17,31277(4,388)28,401821
31,26062,444

8,734
332,553664,298

199

146

366

3,894

¥ 17,113¥ 28,255¥ 62,078$ 660,404

Common stock

Additional paidin capital

Legal reserve

Retainedearnings

Accumulated othercomprehensive
Treasury stockincome (loss)

Noncontrollinginterest

Total

Yen (millions)

Balance as of April 1, 2010
Purchases of treasury stock
Cash dividends
Comprehensive income (loss)
Net income
Foreign currency translation adjustment
Unrealized holding losses on available-for- salesecurities
Pension liability adjustment¥ 23,805¥ 45,420¥ 5,669¥ 270,790¥ (42,032)¥ (6,445)(8)(7,163)29,905(11,549)¥ 2,466(136)¥ 299,673(8)(7,299)366(167)

30,271(11,716)

(838)

(838)

(405)

(405)

Balance as of March 31, 2011

23,80545,4205,669

293,532(54,824)(6,453)

2,529

309,678

Balance as of April 1, 2011
Purchases and disposal of treasury stock, net
Cash dividends
Comprehensive income (loss)
Net income
Foreign currency translation adjustment
Unrealized holding gains on available-for- salesecurities
Pension liability adjustment

23,80545,4201

5,669

293,532(54,824)(6,453)(5,060)

2,529
(150)

309,678(5,059)(9,242)292(146)

32,789(4,952)

Balance as of March 31, 2012

23,80545,421

5,669

316,937(59,066)(11,513)2,525

323,778

Balance as of April 1, 2012
Purchases of treasury stock
Cash dividends
Comprehensive income (loss)
Net income
Foreign currency translation adjustment
Unrealized holding gains on available-for- salesecurities
Pension liability adjustment

23,80545,421

5,669

316,937(59,066)(11,513)
(14)

2,525
(102)

323,778(14)(9,876)108258

31,18427,740(9,092)32,497(4,806)
487

487

77

77

(9,774)31,07627,482
2,699

2,699

821

821

Balance as of March 31, 2013

¥ 23,805¥ 45,421¥ 5,669¥ 338,239¥ (28,064)¥ (11,527)¥ 2,789¥ 376,332

Balance as of March 31, 2013 – US$ in thousands$ 253,245$ 483,202$ 60,309$ 3,598,287$ (298,553)$ (122,628)$ 29,670$ 4,003,532

OTHER COMPREHENSIVE INCOME (LOSS):
Foreign currency translation adjustment
Unrealized holding gains (losses) on available-forsale securities
Pension liability adjustment
Total other comprehensive income (loss)
COMPREHENSIVE INCOME (LOSS)
Less-Comprehensive income (loss) attributable to thenon-controlling interest
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO
MAKITA CORPORATION

20

21

Consolidated Statements of Income

Consolidated Statements of Changes in Equity

MAKITA CORPORATION AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF INCOME
FOR THE YEARS ENDED MARCH 31, 2011, 2012 AND 2013

MAKITA CORPORATION AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
FOR THE YEARS ENDED MARCH 31, 2011, 2012 AND 2013
Yen in millions
2012

2011

NET SALES
Cost of sales
GROSS PROFIT
Selling, general, administrative and others, net
OPERATING INCOME
OTHER INCOME (EXPENSE):
Interest and dividend income
Interest expense
Exchange gains (losses) on foreign currencytransactions, net
Realized gains (losses) on securities, net
Total other income (expense), net
INCOME BEFORE INCOME TAXES
Provision for income taxes : Current: Deferred
Total income tax expense
NET INCOME
Less-Net income attributable to the non-controllinginterest
NET INCOME ATTRIBUTABLE TO MAKITACORPORATIONPER SHARE OF COMMON STOCK AND ADS:
Earnings per share: Basic
Cash dividends per share paid for the year

U.S. Dollars in thousands
2013

2013

¥ 272,630
167,851
104,779
62,87041,909¥ 295,711
180,541
115,170
66,654
48,516¥ 309,630
194,859
114,771
69,40545,366$ 3,293,936
2,072,968
1,220,968
738,351482,617

1,313
(33)

1,491
(242)

1,732
(180)

18,425(1,915)(591)(2,150)(1,324)(14,085)132821
42,73011,0941,365
12,45930,271(652)(1,553)
46,963
14,309(135)
14,17432,78997
325
45,691
13,206
1,301
14,50731,1841,032
3,457
486,074
140,489
13,840154,329
331,745

366

292

108

1,149

¥ 29,905¥ 32,497¥ 31,076

Yen¥ 217.1¥ 52.0$330,596

U.S. Dollars¥ 236.8¥ 66.0¥ 228.9¥ 72.0$ 2.44$ 0.77

Consolidated Statements of Comprehensive Income
MAKITA CORPORATION AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
FOR THE YEARS ENDED MARCH 31, 2011, 2012 AND 2013
Yen in millions
2012

2011

NET INCOME

U.S. Dollars in thousands
2013

2013

¥ 30,271¥ 32,789¥ 31,184$ 331,745(11,716)(4,952)

27,740295,106

(838)

487

2,699

28,713(405)(12,959)
17,31277(4,388)28,401821
31,26062,444

8,734
332,553664,298

199

146

366

3,894

¥ 17,113¥ 28,255¥ 62,078$ 660,404

Common stock

Additional paidin capital

Legal reserve

Retainedearnings

Accumulated othercomprehensive
Treasury stockincome (loss)

Noncontrollinginterest

Total

Yen (millions)

Balance as of April 1, 2010
Purchases of treasury stock
Cash dividends
Comprehensive income (loss)
Net income
Foreign currency translation adjustment
Unrealized holding losses on available-for- salesecurities
Pension liability adjustment¥ 23,805¥ 45,420¥ 5,669¥ 270,790¥ (42,032)¥ (6,445)(8)(7,163)29,905(11,549)¥ 2,466(136)¥ 299,673(8)(7,299)366(167)

30,271(11,716)

(838)

(838)

(405)

(405)

Balance as of March 31, 2011

23,80545,4205,669

293,532(54,824)(6,453)

2,529

309,678

Balance as of April 1, 2011
Purchases and disposal of treasury stock, net
Cash dividends
Comprehensive income (loss)
Net income
Foreign currency translation adjustment
Unrealized holding gains on available-for- salesecurities
Pension liability adjustment

23,80545,4201

5,669

293,532(54,824)(6,453)(5,060)

2,529
(150)

309,678(5,059)(9,242)292(146)

32,789(4,952)

Balance as of March 31, 2012

23,80545,421

5,669

316,937(59,066)(11,513)2,525

323,778

Balance as of April 1, 2012
Purchases of treasury stock
Cash dividends
Comprehensive income (loss)
Net income
Foreign currency translation adjustment
Unrealized holding gains on available-for- salesecurities
Pension liability adjustment

23,80545,421

5,669

316,937(59,066)(11,513)
(14)

2,525
(102)

323,778(14)(9,876)108258

31,18427,740(9,092)32,497(4,806)
487

487

77

77

(9,774)31,07627,482
2,699

2,699

821

821

Balance as of March 31, 2013

¥ 23,805¥ 45,421¥ 5,669¥ 338,239¥ (28,064)¥ (11,527)¥ 2,789¥ 376,332

Balance as of March 31, 2013 – US$ in thousands$ 253,245$ 483,202$ 60,309$ 3,598,287$ (298,553)$ (122,628)$ 29,670$ 4,003,532

OTHER COMPREHENSIVE INCOME (LOSS):
Foreign currency translation adjustment
Unrealized holding gains (losses) on available-forsale securities
Pension liability adjustment
Total other comprehensive income (loss)
COMPREHENSIVE INCOME (LOSS)
Less-Comprehensive income (loss) attributable to thenon-controlling interest
COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO
MAKITA CORPORATION

20

21

Consolidated Statements of Cash Flows

Corporate Directory
ASIA

MAKITA CORPORATION AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWSFOR THE YEARS ENDED MARCH 31, 2011, 2012 AND 2013

JAPAN
Yen in millions
2012

2011

CASH FLOWS FROM OPERATING ACTIVITIES:Net income
Adjustments to reconcile net income to net cash provided by operating
activitiesDepreciation and amortization
Deferred income tax expense (benefit)
Realized (gains) losses on securities, net
Losses (gains) on disposal or sales of property, plant and equipment, net
Bad debt expense
Inventory write-downs
Impairment of goodwill and long-lived assets
Changes in assets and liabilitiesTrade receivables
Inventories
Trade notes and accounts payable and accrued expenses
Income taxes payable
Accrued retirement and termination benefits
Other, net
Net cash provided by operating activities
CASH FLOWS FROM INVESTING ACTIVITIES:Capital expenditures, including interest capitalized
Purchases of available-for-sale securities
Purchases of held-to-maturity securities
Proceeds from sales of available-for-sale securities
Proceeds from maturities of available-for-sale securities
Proceeds from maturities of held-to-maturity securities
Proceeds from sales of property, plant and equipment
Investment in term (time) deposit
Withdrawal of term (time) deposit
Other, net
Net cash used in investing activities

22

CASH FLOWS FROM FINANCING ACTIVITIES:
Additions to (payments on) borrowings with original maturities of threemonths or less, net
Additions to borrowings with original maturities of more than threemonthsPayments on borrowings with original maturities of more than threemonthsPurchase (sale) of treasury stock, net
Cash dividends paid
Other, net
Net cash used in financing activities
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH
EQUIVALENTS
NET CHANGE IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR
CASH AND CASH EQUIVALENTS, END OF YEAR
SUPPLEMENT DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the year for interest, net of amount capitalized
Cash paid during the year for income taxes¥ 30,271¥ 32,789

U.S. Dollars in thousands
2013

2013

¥ 31,184$ 331,745

7,557
1,365
(132)
(219)
223
709
262

7,237
(135)
652
(179)
131
1,962
214

7,542
1,301
(97)
59
169
719
45

80,234
13,840(1,032)
628
1,798
7,649
479

(5,249)(28,008)
10,264
2,429(1,167)
1,312
19,617(3,430)(25,110)(3,554)741(1,235)(1,461)
8,622

(720)
2,519
(1,097)(1,857)(1,100)(303)
38,364(7,660)26,798(11,670)(19,755)(11,702)(3,223)
408,128(9,742)(2,677)(2,870)
1,156
500
800
756
(33,105)
25,831
17(19,334)(13,481)(1,473)(6,099)13,50771300
709(31,372)
33,30731(4,500)(11,481)(11,358)(1,216)
2,249
156
3,900
759
(21,828)
23,785(380)(15,414)(122,138)(120,830)(12,936)
23,926
1,660
41,4898,074(232,213)
253,032(4,043)(163,979)

276

(264)

-

-

104

4,509

2,272

24,170(154)(2,635)(2,919)(31,053)(8)(7,163)(410)(7,355)(5,059)(9,092)(166)(12,707)(15)(9,774)(214)(10,650)(160)(103,979)(2,277)(113,298)(3,385)

1,564

5,171

55,011(10,457)
62,29051,833(7,021)
51,83344,812

17,47144,81262,283

185,862
476,723
662,58549¥ 8,665

198¥ 13,568

175¥ 15,063

1,862$ 160,245

Makita Corporation
Head office
3-11-8, Sumiyoshi-cho,
Anjo, Aichi 446-8502
Phone: +81-(0)566-98-1711
Fax: +81-(0)566-98-6021
Okazaki plant
22-1, Watarijima, Nemunoki-cho,Okazaki, Aichi 444-0232
Phone: +81-(0)564-43-3111

CHINA
Makita (China) Co., Ltd.
Head office & plant
No. 288 South Huangpujiang Road,
Kunshan Development Zone, Jiangsu,
Postcode: 215335
Phone: +86-(0)512-57707710
Fax: +86-(0)512-57713623
Domestic sales department
318 South Wusongjiang Road, Kunshan,
Jiangsu, Postcode: 215300
Phone: +86-(0)512-5703-7500
Fax: +86-(0)512-5703-7118
Guangzhou sales branch
No.24 Building, No.26, Renhouzhi
Street, Dachongkou, Fangcun Avenue,
Liwan District, Guangzhou, Guangdong,
Postcode: 510370
Phone: +86-(0)20-87518872
Fax: +86-(0)20-87518873
Shanghai sales branch
1F, Building 33, No.888 Shuangbai Road,
Minhang District, Shanghai,
Postcode: 201108
Phone: +86-(0)21-54487198
Fax: +86-(0)21-62476732
Beijing sales branch
No.6 A Heyi Xili North Street,
Fengtai District, Beijing, Postcode: 100076
Phone: +86-(0)10-67983346
Fax: +86-(0)10-87898365

Changsha sales branch
1F, Ruixinjidi Research andDevelopment office building,
NO.166, Guyuan Road, Gaoxin District,
Changsha, Hunan. Postcode: 410205
Phone: +86-(0)731-8526-7792
Fax: +86-(0)731-8526-7791
Shijiazhuang sales branch
Room 104, Building 2, AnYuan Area C ,NO.111 Tangu South Street, Shijiazhuang,
Hebei, Postcode: 050026
Phone: +86-(0)311-8986-4089
Fax: +86-(0)311-8925-0381
Makita (Kunshan) Co., Ltd.
Nanzi Road, Kunshan Comprehensive Free
Trade Zone, Jiangsu, Postcode: 215301
Phone: +86-(0)512-57367367
Fax: +86-(0)512-57365575
Makita Power Tools (HK) Ltd.
3F, Grandtech Centre, 8 On Ping Street,
Shatin, N.T., Hong Kong
Phone: +852-2648-8683
Fax: +852-2648-5237
Makita (Taiwan) Ltd.
No.798, Sec.2, Wenhua 3rd Rd., Linkou
Dist., New Taipei City 24459, Taiwan
Phone: +886-(0)2-8601-9898
Fax: +886-(0)2-8601-2266

SINGAPORE
Makita Singapore Pte. Ltd.
7, Changi South Street 3, Singapore
486348Phone: +65-6546-8700
Fax: +65-6546-8711

INDIA
Makita Power Tools India Private
Ltd.
Unit II, Sy. No.93/3, 93/4,
Koralur Village, Kasaba Hobli,
Hoskote Taluk, Bangalore 560067, India
Phone: +91-80-28549008
Fax: +91-80-28549007

VIETNAM

Chengdu sales branch
1F, Building 3, No.9, Wu Ke Dong San Road,Wu Hou District, Chengdu, Sichuan
Postcode: 610045
Phone: +86-(0)28-85366002
Fax: +86-(0)28-87337018

Makita Vietnam Co., Ltd,
Head office
Unit 6, B.16,18L1-2, St.3, VSIP II BD IndustryService-Urban Complex TDM Town,
BD Province, Vietnam
Phone: +84-650-362-8338
Fax: +84-650-362-8339

Shenyang sales branch
No.2, No.7 Street, Economic andTechnological Development Zone,
Shenyang, Liaoning, Postcode: 110141
Phone: +86-(0)24-22530648
Fax: +86-(0)24-22530170

North branch
Lot KT1-B-1-Que Vo Industrial Park, Phase 2
Phuong Lieu Commune, Que Vo District,
Bac Ninh Province, Vietnam
Phone: +84-241-395-2030
Fax: +84-241-395-2031

Xian sales branch
1 & 2F, Xian Youzhi Science and Technology
Industrial Park NO.75 Mingguang Road
Economic And Technological Development
Zone, Xian, Shanxi, Postcode: 710018
Phone: +86-(0)29-86223736
Fax: +86-(0)29-86229230

Central branch
102 Trieu Nu Vuong Street, Hai Chau 1
Ward, Hai Chau District, Da Nang City
Phone: +84-511-352-5079
Fax: +84-511-352-5479

THAILAND
Makita Manufacturing (Thailand)Co., Ltd.
219/1 Moo 6, Tambon Bowin, Amphur
Sriracha, Chonburi, 20230
Phone: +66-(0)3300-4750
Fax: +66-(0)3300-4747

MALAYSIA
Makita Power Tools (Malaysia) Sdn.
Bhd.
Lot 824, Jalan Subang 5, Subang Industrial
Area, 47500 Subang Jaya, Selangor,
Malaysia
Phone: +60-(0)3-8023-0824
Fax: +60-(0)3-8022-1448

AMERICAS
UNITED STATES
Makita U.S.A. Inc.
Corporate office14930 Northam Street, La Mirada,
CA 90638-5753, USA
Phone: +1-714-522-8088
Fax: +1-714-522-8133
Western regional(Los Angeles) office14930 Northam Street, La Mirada,
CA90638-5753
Phone: +1-714-522-8088
Fax: +1-714-522-2437
Central regional(Chicago) office1450 Feehanville Drive, Mount Prospect,
IL 60056-6011
Phone: +1-847-297-3100
Fax: +1-847-297-1544
Eastern regional (Atlanta) office2660 Buford Highway, Buford,
GA 30518-6045
Phone: +1-770-476-8911
Fax: +1-770-476-0795
Factory service centers
Atlanta, Chicago, Dallas, Denver, Florida,
Houston, Las Vegas, Los Angeles,
New Jersey, Portland, San Francisco
Makita Corporation of America
2650 Buford Highway, Buford,
GA 30518-6045
Phone: +1-770-932-2901
Fax: +1-770-932-2905
Makita Latin America Inc.
10205 NW 108th Avenue, Suite 20,
Medley, FL 33178-2507
Phone: +1-305-882-0522
Fax: +1-305-882-0484

CANADA
Makita Canada Inc.
Head office1950 Forbes Street, Whitby,
ON L1N 7B7Phone: +1-905-571-2200
Fax: +1-905-433-4779

Quebec and Atlantic regional office6389 Boul. Couture, St. Léonard,
Quebec H1P 3J5
Phone: +1-514-323-1223
Fax: +1-514-323-7708
Factory service centers
Burnaby (Vancouver), Calgary,
Dartmouth (Halifax), Edmonton,
Les Saules (Quebec City), London,
Mississauga (Toronto), Nepean (Ottawa),
Richmond (Vancouver), Saskatoon,
St. Laurent (Montreal),
St. Leonard (Montreal), Whitby, Winnipeg

MEXICO
Makita México, S.A. de C.V.
Norte 35#780-B Col. Industrial Vallejo
Del. Azcapotzalco Mexico, D.F. Mexico,
C.P. 02300
Phone: +52-555-567-3387
Fax: +52-555-567-3282

PANAMA
Makita Latin America Inc.
Panama Branch
Local Comercial No.4, Albrook Office
Center, calle Diego Dominguez, Albrook,
Panama City, Panama
Phone: +1-507-315-0305
Fax: +1-507-315-0651

BRAZIL
Makita do Brasil Ferramentas
Elétricas Ltda.
Head office & plant
Rodovia BR 376, Km 506,1 Bairro Industrial,
Ponta Grossa, PR CEP 84043-450
Phone: +55-(0)42-3302-2100
Fax: +55-(0)42-3302-2120
São Paulo sales office
Rua Makita Brasil, 200 Bairro dos
Alvarengas, São Bernardo do Campo,
SP CEP 09852-080
Phone: +55-(0)11-4392-2411/2199-2500
Fax: +55-(0)11-4392-2922/4392-2471
Salvador sales branch
Rua Andre LR da Fonte, 491 Bairro
Pitangueiras, Lauro de Freitas, BA
CEP 42700-000
Phone: +55-(0)71-3252-0154
Fax: +55-(0)71-3252-0070
Curitiba sales branch
Rua Comendador Roseira,499 Bairro Prado Velho, Curitiba,
PR CEP 80215-210
Phone: +55-(0)41-3333-8070
Fax: +55-(0)41-3332-0734
Belém Sales Branch
Rodovia BR 316, Km 04 Loja 04-BairroÁguas Lindas, Ananindeua / PA
CEP 67020-000
Phone: +55-(0)91-3237-7186
Service centersSão Paulo, Rio de Janeiro, Recife,
Belo Horizonte

Western regional office11771 Hammersmith Way, Richmond,
BC V7A 5H6
Phone: +1-604-272-3104
Fax: +1-604-272-5416

23

Consolidated Statements of Cash Flows

Corporate Directory
ASIA

MAKITA CORPORATION AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWSFOR THE YEARS ENDED MARCH 31, 2011, 2012 AND 2013

JAPAN
Yen in millions
2012

2011

CASH FLOWS FROM OPERATING ACTIVITIES:Net income
Adjustments to reconcile net income to net cash provided by operating
activitiesDepreciation and amortization
Deferred income tax expense (benefit)
Realized (gains) losses on securities, net
Losses (gains) on disposal or sales of property, plant and equipment, net
Bad debt expense
Inventory write-downs
Impairment of goodwill and long-lived assets
Changes in assets and liabilitiesTrade receivables
Inventories
Trade notes and accounts payable and accrued expenses
Income taxes payable
Accrued retirement and termination benefits
Other, net
Net cash provided by operating activities
CASH FLOWS FROM INVESTING ACTIVITIES:Capital expenditures, including interest capitalized
Purchases of available-for-sale securities
Purchases of held-to-maturity securities
Proceeds from sales of available-for-sale securities
Proceeds from maturities of available-for-sale securities
Proceeds from maturities of held-to-maturity securities
Proceeds from sales of property, plant and equipment
Investment in term (time) deposit
Withdrawal of term (time) deposit
Other, net
Net cash used in investing activities

22

CASH FLOWS FROM FINANCING ACTIVITIES:
Additions to (payments on) borrowings with original maturities of threemonths or less, net
Additions to borrowings with original maturities of more than threemonthsPayments on borrowings with original maturities of more than threemonthsPurchase (sale) of treasury stock, net
Cash dividends paid
Other, net
Net cash used in financing activities
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH
EQUIVALENTS
NET CHANGE IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR
CASH AND CASH EQUIVALENTS, END OF YEAR
SUPPLEMENT DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the year for interest, net of amount capitalized
Cash paid during the year for income taxes¥ 30,271¥ 32,789

U.S. Dollars in thousands
2013

2013

¥ 31,184$ 331,745

7,557
1,365
(132)
(219)
223
709
262

7,237
(135)
652
(179)
131
1,962
214

7,542
1,301
(97)
59
169
719
45

80,234
13,840(1,032)
628
1,798
7,649
479

(5,249)(28,008)
10,264
2,429(1,167)
1,312
19,617(3,430)(25,110)(3,554)741(1,235)(1,461)
8,622

(720)
2,519
(1,097)(1,857)(1,100)(303)
38,364(7,660)26,798(11,670)(19,755)(11,702)(3,223)
408,128(9,742)(2,677)(2,870)
1,156
500
800
756
(33,105)
25,831
17(19,334)(13,481)(1,473)(6,099)13,50771300
709(31,372)
33,30731(4,500)(11,481)(11,358)(1,216)
2,249
156
3,900
759
(21,828)
23,785(380)(15,414)(122,138)(120,830)(12,936)
23,926
1,660
41,4898,074(232,213)
253,032(4,043)(163,979)

276

(264)

-

-

104

4,509

2,272

24,170(154)(2,635)(2,919)(31,053)(8)(7,163)(410)(7,355)(5,059)(9,092)(166)(12,707)(15)(9,774)(214)(10,650)(160)(103,979)(2,277)(113,298)(3,385)

1,564

5,171

55,011(10,457)
62,29051,833(7,021)
51,83344,812

17,47144,81262,283

185,862
476,723
662,58549¥ 8,665

198¥ 13,568

175¥ 15,063

1,862$ 160,245

Makita Corporation
Head office
3-11-8, Sumiyoshi-cho,
Anjo, Aichi 446-8502
Phone: +81-(0)566-98-1711
Fax: +81-(0)566-98-6021
Okazaki plant
22-1, Watarijima, Nemunoki-cho,Okazaki, Aichi 444-0232
Phone: +81-(0)564-43-3111

CHINA
Makita (China) Co., Ltd.
Head office & plant
No. 288 South Huangpujiang Road,
Kunshan Development Zone, Jiangsu,
Postcode: 215335
Phone: +86-(0)512-57707710
Fax: +86-(0)512-57713623
Domestic sales department
318 South Wusongjiang Road, Kunshan,
Jiangsu, Postcode: 215300
Phone: +86-(0)512-5703-7500
Fax: +86-(0)512-5703-7118
Guangzhou sales branch
No.24 Building, No.26, Renhouzhi
Street, Dachongkou, Fangcun Avenue,
Liwan District, Guangzhou, Guangdong,
Postcode: 510370
Phone: +86-(0)20-87518872
Fax: +86-(0)20-87518873
Shanghai sales branch
1F, Building 33, No.888 Shuangbai Road,
Minhang District, Shanghai,
Postcode: 201108
Phone: +86-(0)21-54487198
Fax: +86-(0)21-62476732
Beijing sales branch
No.6 A Heyi Xili North Street,
Fengtai District, Beijing, Postcode: 100076
Phone: +86-(0)10-67983346
Fax: +86-(0)10-87898365

Changsha sales branch
1F, Ruixinjidi Research andDevelopment office building,
NO.166, Guyuan Road, Gaoxin District,
Changsha, Hunan. Postcode: 410205
Phone: +86-(0)731-8526-7792
Fax: +86-(0)731-8526-7791
Shijiazhuang sales branch
Room 104, Building 2, AnYuan Area C ,NO.111 Tangu South Street, Shijiazhuang,
Hebei, Postcode: 050026
Phone: +86-(0)311-8986-4089
Fax: +86-(0)311-8925-0381
Makita (Kunshan) Co., Ltd.
Nanzi Road, Kunshan Comprehensive Free
Trade Zone, Jiangsu, Postcode: 215301
Phone: +86-(0)512-57367367
Fax: +86-(0)512-57365575
Makita Power Tools (HK) Ltd.
3F, Grandtech Centre, 8 On Ping Street,
Shatin, N.T., Hong Kong
Phone: +852-2648-8683
Fax: +852-2648-5237
Makita (Taiwan) Ltd.
No.798, Sec.2, Wenhua 3rd Rd., Linkou
Dist., New Taipei City 24459, Taiwan
Phone: +886-(0)2-8601-9898
Fax: +886-(0)2-8601-2266

SINGAPORE
Makita Singapore Pte. Ltd.
7, Changi South Street 3, Singapore
486348Phone: +65-6546-8700
Fax: +65-6546-8711

INDIA
Makita Power Tools India Private
Ltd.
Unit II, Sy. No.93/3, 93/4,
Koralur Village, Kasaba Hobli,
Hoskote Taluk, Bangalore 560067, India
Phone: +91-80-28549008
Fax: +91-80-28549007

VIETNAM

Chengdu sales branch
1F, Building 3, No.9, Wu Ke Dong San Road,Wu Hou District, Chengdu, Sichuan
Postcode: 610045
Phone: +86-(0)28-85366002
Fax: +86-(0)28-87337018

Makita Vietnam Co., Ltd,
Head office
Unit 6, B.16,18L1-2, St.3, VSIP II BD IndustryService-Urban Complex TDM Town,
BD Province, Vietnam
Phone: +84-650-362-8338
Fax: +84-650-362-8339

Shenyang sales branch
No.2, No.7 Street, Economic andTechnological Development Zone,
Shenyang, Liaoning, Postcode: 110141
Phone: +86-(0)24-22530648
Fax: +86-(0)24-22530170

North branch
Lot KT1-B-1-Que Vo Industrial Park, Phase 2
Phuong Lieu Commune, Que Vo District,
Bac Ninh Province, Vietnam
Phone: +84-241-395-2030
Fax: +84-241-395-2031

Xian sales branch
1 & 2F, Xian Youzhi Science and Technology
Industrial Park NO.75 Mingguang Road
Economic And Technological Development
Zone, Xian, Shanxi, Postcode: 710018
Phone: +86-(0)29-86223736
Fax: +86-(0)29-86229230

Central branch
102 Trieu Nu Vuong Street, Hai Chau 1
Ward, Hai Chau District, Da Nang City
Phone: +84-511-352-5079
Fax: +84-511-352-5479

THAILAND
Makita Manufacturing (Thailand)Co., Ltd.
219/1 Moo 6, Tambon Bowin, Amphur
Sriracha, Chonburi, 20230
Phone: +66-(0)3300-4750
Fax: +66-(0)3300-4747

MALAYSIA
Makita Power Tools (Malaysia) Sdn.
Bhd.
Lot 824, Jalan Subang 5, Subang Industrial
Area, 47500 Subang Jaya, Selangor,
Malaysia
Phone: +60-(0)3-8023-0824
Fax: +60-(0)3-8022-1448

AMERICAS
UNITED STATES
Makita U.S.A. Inc.
Corporate office14930 Northam Street, La Mirada,
CA 90638-5753, USA
Phone: +1-714-522-8088
Fax: +1-714-522-8133
Western regional(Los Angeles) office14930 Northam Street, La Mirada,
CA90638-5753
Phone: +1-714-522-8088
Fax: +1-714-522-2437
Central regional(Chicago) office1450 Feehanville Drive, Mount Prospect,
IL 60056-6011
Phone: +1-847-297-3100
Fax: +1-847-297-1544
Eastern regional (Atlanta) office2660 Buford Highway, Buford,
GA 30518-6045
Phone: +1-770-476-8911
Fax: +1-770-476-0795
Factory service centers
Atlanta, Chicago, Dallas, Denver, Florida,
Houston, Las Vegas, Los Angeles,
New Jersey, Portland, San Francisco
Makita Corporation of America
2650 Buford Highway, Buford,
GA 30518-6045
Phone: +1-770-932-2901
Fax: +1-770-932-2905
Makita Latin America Inc.
10205 NW 108th Avenue, Suite 20,
Medley, FL 33178-2507
Phone: +1-305-882-0522
Fax: +1-305-882-0484

CANADA
Makita Canada Inc.
Head office1950 Forbes Street, Whitby,
ON L1N 7B7Phone: +1-905-571-2200
Fax: +1-905-433-4779

Quebec and Atlantic regional office6389 Boul. Couture, St. Léonard,
Quebec H1P 3J5
Phone: +1-514-323-1223
Fax: +1-514-323-7708
Factory service centers
Burnaby (Vancouver), Calgary,
Dartmouth (Halifax), Edmonton,
Les Saules (Quebec City), London,
Mississauga (Toronto), Nepean (Ottawa),
Richmond (Vancouver), Saskatoon,
St. Laurent (Montreal),
St. Leonard (Montreal), Whitby, Winnipeg

MEXICO
Makita México, S.A. de C.V.
Norte 35#780-B Col. Industrial Vallejo
Del. Azcapotzalco Mexico, D.F. Mexico,
C.P. 02300
Phone: +52-555-567-3387
Fax: +52-555-567-3282

PANAMA
Makita Latin America Inc.
Panama Branch
Local Comercial No.4, Albrook Office
Center, calle Diego Dominguez, Albrook,
Panama City, Panama
Phone: +1-507-315-0305
Fax: +1-507-315-0651

BRAZIL
Makita do Brasil Ferramentas
Elétricas Ltda.
Head office & plant
Rodovia BR 376, Km 506,1 Bairro Industrial,
Ponta Grossa, PR CEP 84043-450
Phone: +55-(0)42-3302-2100
Fax: +55-(0)42-3302-2120
São Paulo sales office
Rua Makita Brasil, 200 Bairro dos
Alvarengas, São Bernardo do Campo,
SP CEP 09852-080
Phone: +55-(0)11-4392-2411/2199-2500
Fax: +55-(0)11-4392-2922/4392-2471
Salvador sales branch
Rua Andre LR da Fonte, 491 Bairro
Pitangueiras, Lauro de Freitas, BA
CEP 42700-000
Phone: +55-(0)71-3252-0154
Fax: +55-(0)71-3252-0070
Curitiba sales branch
Rua Comendador Roseira,499 Bairro Prado Velho, Curitiba,
PR CEP 80215-210
Phone: +55-(0)41-3333-8070
Fax: +55-(0)41-3332-0734
Belém Sales Branch
Rodovia BR 316, Km 04 Loja 04-BairroÁguas Lindas, Ananindeua / PA
CEP 67020-000
Phone: +55-(0)91-3237-7186
Service centersSão Paulo, Rio de Janeiro, Recife,
Belo Horizonte

Western regional office11771 Hammersmith Way, Richmond,
BC V7A 5H6
Phone: +1-604-272-3104
Fax: +1-604-272-5416

23

Corporate Data
ARGENTINA
Makita Herramientas Eléctricas deArgentina S.A.
Lisandro de la Torre 1246, Parque
Industrial Pilarica, Fatima, Pilar Provincia de
Buenos Aires, CP1629
Phone: +54 (230)444-1100
Fax: +54 (230)444-1105

CHILE
Makita Chile Comercial Ltda.
Av. Lo Boza 120-B Modulo 1,
Pudahuel, Santiago, CP 9030971
Phone: +56-(0)2-2-540-0400
Fax: +56-(0)2-2-540-0436

PERU
Makita Peru S.A.
Av. Argentina 3119, Zona B, Lima, Peru
Phone: +511-562-0220
Fax: +511-561-0099

COLOMBIA
Makita Colombia, S.A.
Bodega 4 y 7 Lote 5 Hacienda Potrero
Chico, Vereda Vuelta Grande,
Municipio de Cota, Colombia
Phone: +57-1-896-6199
Fax: +57-1-877-3902

24

Nord office
Village d’Entreprises, 51, Rue Trémière,
59650 Villeneuve d’Ascq
Phone: +33-(0)3-2059-7020
Fax: +33-(0)3-2047-2220
Dijon office
5, Rue Edmond Voisenet,
21000 Dijon
Phone: +33-(0)3-8054-0880
Fax: +33-(0)3-8054-0881
Toulouse office
15, Rue de Boudeville, Z.I. de Thibaud,
31104 Toulouse
Phone: +33-(0)5-6143-2200
Fax: +33-(0)5-6143-2201

THE NETHERLANDSSLOVAKIA

Makita Nederland B.V.
Park Forum 1101, 5657HK Eindhoven
Phone: +31-(0)402-064040
Fax: +31-(0)402-064096

Makita s.r.oJegorovova 35,
974 01 Banská Bystrica
Phone: +421-(0)48-4161-772
Fax: +421-(0)48-4161-769

BELGIUM
S.A. Makita N.V.
Jan-Baptist Vinkstraat 2, 3070 Kortenberg
Phone: +32-(0)2-257-1840
Fax: +32-(0)2-257-1865

GERMANY

SPAIN

Makita Werkzeug G.m.b.H
Head office
Makita Platz 1, 40885 Ratingen
Phone: +49 (0)2102 1004-0
Fax: +49 (0) 2102 1004-128

Makita, S.A.
C/ Juan de la Cierva, 7-15,
28820 Coslada (Madrid)
Phone: +34-91-671-1262
Fax: +34-91-671-8293

Dolmar G.m.b.H
Jenfelder Strasse 38, 22045 Hamburg
Phone: +49-(0)40-66986-0
Fax: +49-(0)40-66986-352

PORTUGAL

DENMARKEUROPE

Makita Farramentas Electricas,
Sociedade Unipessoal, Lda.
Portugal sales division
Zona Industrial Vale da Erva, Armazém
C-2, 2615-187 Alverca, Lisboa
Phone: +351-219-936-750
Fax: +351-219-574-982

UNITED KINGDOMITALYMakita (U.K.) Ltd.
Michigan Drive, Tongwell,
Milton Keynes, Bucks MK15 8JD
Phone: +44-(0)1908-211678
Fax: +44-(0)1908-211400

Makita S.p.A.
Via Sempione 269/A,
20028 San Vittore Olona (MI)Phone: +39-0331-524111
Fax: +39-0331-420285

Makita International Europe Ltd.
Michigan Drive, Tongwell,
Milton Keynes, Bucks MK15 8JD
Phone: +44-(0)1908-211678
Fax: +44-(0)1908-211500

GREECE
Makita Hellas S.A.
Tatoiou 232, Acharnes, ATTIKI PC13677
Phone: +30-210-8071241
Fax: +30-210-8072245

Makita Elværktøj Danmark
Denmark office
Erhvervsbyvej 14, 8700 Horsens
Phone: +45-76-254400
Fax: +45-76-254401

SWITZERLAND
Makita SA
Chemin du Vuasset 7
CH-1028 Preverenges
Phone: +41-(0)21-811-5656
Fax: +41-(0)21-811-5678

AUSTRIA
Makita Werkzeug
Gesellschaft m.b.H.
Kolpingstraße 13, A-1230 Wien
Phone: +43-(1)-6162730-0
Fax: +43-(0)1-616273013

SLOVENIA

Makita Manufacturing Europe Ltd.
Hortonwood 7, Telford,
Shropshire TF1 7YX
Phone: +44-(0)1952-677688
Fax: +44-(0)1952-677678

Makita Oy
Teilimäki 4 FIN-01530 Vantaa, Finland
Phone: +358-(0)9-857-880
Fax: +358-(0)9-857-88211

MAKITA d.o.o.
Brnčičeva 49,
SI-1231 Ljubljana-Črnuče
Phone: +386 (0)-590-83-600
Fax: +386 (0)-590-83-601

FRANCEESTONIAUKRAINE

FINLAND

Makita France SAS
Head office37, avenue Graham Bell,ZAC Léonard de Vinci,
Bussy Saint-Georges,
77607 Marne-la-Vallée Cedex 3
Phone: +33-(0)1-6094-6400
Fax: +33-(0)1-6094-6380

Makita Oy Estonian Branch
Estonian office
Piirimäe 13, 76401 Saku vald,
Harjumaa maakond
Phone: +372-6-510-380
Fax: +372-6-510-399

Nantes office
Le Pan Loup, 44220 Couéron
Phone: +33-(0)2-5177-8977
Fax: +33-(0)2-4063-8376

Makita Norway
Løxaveien 11A N-1351 Rud Norway
Phone: +47 99 40 76 00
Fax: +47 67 13 38 83

Bordeaux office
137, Rue de la Croix-de-Monjous,33170 Gradignan
Phone: +33-(0)5-5796-5270
Fax: +33-(0)5-5796-5275

SWEDEN

NorwayMakita Sweden
Bergkällavägen 36 B,192 79
Sollentuna, Sweden
Phone: +46-8-505-819-00
Fax: +46-8-505-819-69

Makita Ukraine LLC
18A, Marka Vovchka str., Kyiv, 04073
Phone: +380-(0)44-494-2370
Fax: +380-(0)44-494-2373

POLAND
Makita Sp. z o.o.
ul. Bestwi ska 103
43-346 Bielsko-Biała
Phone: +48-(0)33-484-0200
Fax: +48-(0)33-818-4059

HUNGARY
Makita Elektromos
Kisgépértékesítö Kft.
8000, Székesfehérvár, Takarodó út 2
Phone: +36-22-507-472
Fax: +36-22-507-484

ROMANIA
Makita Romania S.R.L.
Sos. Bucuresti–Urziceni nr.31 (EXPO
MARKET DORALY, Pavilion R) Com.
Afumati / ILFOV, 077010
Phone: +40-21-351-1382
Fax: +40-21-312-5495
SC Makita EU SRL
Blvd. I.C. Bratianu, nr.164,
Comuna Branesti, jud. ILFOV,ROMANIA 077030
Phone: +40-21-310-7675
Fax: +40-21-200-0219

BULGARIA
Makita Bulgaria EOOD
Sofia circle road, No.373,
Sofia 1186, Bulgaria
Phone: +0359-2-921-0551
Fax: +0359-2-921-0550

RUSSIA
Makita LLC
48-A, Otkrytoe shosse,
Moscow, 107370
Phone: +7-495-380-0151
Fax: +7-495-380-0152
Makita Oy Vladivostok
Representative office
22, St. Makovskogo,
Vladivostok 690041, Primorsky Region
Phone: +7-4232-375-984
Fax: +7-4232-375-985
Makita Oy Novosibirsk
Representative office
Pisemskogo street 1a, build. 2
630110, Novosibirsk
Phone: +7-383-362-1350
Fax: +7-383-362-1349
Makita Oy St. Petersburg
Representative officeObukhovskoy oborony pr. 70 bld. 3A,
192029, St. Petersburg
Phone: +7-812-703-0210
Fax: +7-812-703-0213

MIDDLE EAST & AFRICA
UNITED ARAB EMIRATES
Makita Gulf FZE
P.O. Box 17133, Jebel Ali Free Zone,
Dubai
Phone: +971-(0)4-8860804
Fax: +971-(0)4-8860805

KAZAKHSTAN
Makita Gulf FZE
Kazakhstan Branch188-188a, Kabanbay Batyr Street,
Almaty District, Almaty,
Kazakhstan, 050000
Phone: +7-727-338-41-48
Fax: +7-727-293-06-49

MOROCCOMakita Africa s.a.r.l.a.u.
TANGER MED FREE ZONE
P.O. BOX 203, Ksar Sghir,
90150 Wilaya de Tanger
KINGDOM OF MOROCCO
Phone: + 212(0) 539 93 0851
Fax: +212(0) 539 33 9831

OCEANIA
AUSTRALIA

Makita Corporation
Head Office

Common Stock Listings

3-11-8, Sumiyoshi-cho, Anjo,
Aichi 446-8502, Japan
Phone: +81-(0)566-98-1711
Fax: +81-(0)566-98-6021

Tokyo and Nagoya stock exchanges

Okazaki Plant
22-1, Watarijima, Nemunoki-cho,Okazaki, Aichi 444-0232
Phone: +81-(0)564-43-3111

Tokyo, Nagoya, Osaka, Sapporo, Sendai,
Niigata, Utsunomiya, Saitama, Chiba,
Yokohama, Shizuoka, Gifu, Kanazawa,
Kyoto, Hyogo, Hiroshima, Takamatsu,
Fukuoka, Kumamoto and other major cities

Depositary, Transfer Agent,and Registrar for American
Depositary Receipts

Hobart office
32a Chapel Street Glenorchy,
TAS 7010
Phone: +61-(0)3-6274-1533
Fax: +61-(0)3-6274-1777¥23,805 million

Makita (New Zealand) Ltd.
15 Orbit Drive, Mairangi Bay, Auckland,
New ZealandPhone: +64-(0)9-479-8250
Fax: +64-(0)9-479-8259

American Depositary Receipts
Symbol: MKTAYCUSIP: 560877300

Date of Founding

NEW ZEALAND

Sumitomo Mitsui Trust Bank, Limited
4-1, Marunouchi 1-chome, Chiyoda-ku,
Tokyo 100-8233, Japan

Domestic Sales Offices

Makita (Australia) Pty. Ltd.
Head office
4 Alspec Place, Eastern Creek,
NSW 2766
Phone: +61-(0)2-9839-1200
Fax: +61-(0)2-9839-1201

Perth office535-537 Abernethy Road, Kewdale,
WA 6105
Phone: +61-(0)8-9360-8900
Fax: +61-(0)8-9360-8999

Transfer Agent of Common
Stock

March 21, 1915

Paid-in Capital

Number of Shares Issued
140,008,760 shares,
including 4,262,833 of treasury stock(As of March 31, 2013)

Independent Registered
Public Accounting Firm

BNY Mellon Depositary Receipts
101 Barclays Street,
New York, NY 10286, U.S.A.
Toll Free Number for Domestic Calls:
1-888-BNY-ADRS
1-866-234-6936
Number for International Calls:+1-201-680-6825
Email:
shrrelations@bnymellon.com
Website:http://www.adrbnymellon.com/

Web Site
http://www.makita.biz/ir/

KPMG AZSA LLCCZECH REPUBLIC
Makita, spol. s r.o.
Kaštanová 125d, 620 00 Brno
Phone: +42-(0)5-432-16944
Fax: +42-(0)5-432-16946

25

Corporate Data
ARGENTINA
Makita Herramientas Eléctricas deArgentina S.A.
Lisandro de la Torre 1246, Parque
Industrial Pilarica, Fatima, Pilar Provincia de
Buenos Aires, CP1629
Phone: +54 (230)444-1100
Fax: +54 (230)444-1105

CHILE
Makita Chile Comercial Ltda.
Av. Lo Boza 120-B Modulo 1,
Pudahuel, Santiago, CP 9030971
Phone: +56-(0)2-2-540-0400
Fax: +56-(0)2-2-540-0436

PERU
Makita Peru S.A.
Av. Argentina 3119, Zona B, Lima, Peru
Phone: +511-562-0220
Fax: +511-561-0099

COLOMBIA
Makita Colombia, S.A.
Bodega 4 y 7 Lote 5 Hacienda Potrero
Chico, Vereda Vuelta Grande,
Municipio de Cota, Colombia
Phone: +57-1-896-6199
Fax: +57-1-877-3902

24

Nord office
Village d’Entreprises, 51, Rue Trémière,
59650 Villeneuve d’Ascq
Phone: +33-(0)3-2059-7020
Fax: +33-(0)3-2047-2220
Dijon office
5, Rue Edmond Voisenet,
21000 Dijon
Phone: +33-(0)3-8054-0880
Fax: +33-(0)3-8054-0881
Toulouse office
15, Rue de Boudeville, Z.I. de Thibaud,
31104 Toulouse
Phone: +33-(0)5-6143-2200
Fax: +33-(0)5-6143-2201

THE NETHERLANDSSLOVAKIA

Makita Nederland B.V.
Park Forum 1101, 5657HK Eindhoven
Phone: +31-(0)402-064040
Fax: +31-(0)402-064096

Makita s.r.oJegorovova 35,
974 01 Banská Bystrica
Phone: +421-(0)48-4161-772
Fax: +421-(0)48-4161-769

BELGIUM
S.A. Makita N.V.
Jan-Baptist Vinkstraat 2, 3070 Kortenberg
Phone: +32-(0)2-257-1840
Fax: +32-(0)2-257-1865

GERMANY

SPAIN

Makita Werkzeug G.m.b.H
Head office
Makita Platz 1, 40885 Ratingen
Phone: +49 (0)2102 1004-0
Fax: +49 (0) 2102 1004-128

Makita, S.A.
C/ Juan de la Cierva, 7-15,
28820 Coslada (Madrid)
Phone: +34-91-671-1262
Fax: +34-91-671-8293

Dolmar G.m.b.H
Jenfelder Strasse 38, 22045 Hamburg
Phone: +49-(0)40-66986-0
Fax: +49-(0)40-66986-352

PORTUGAL

DENMARKEUROPE

Makita Farramentas Electricas,
Sociedade Unipessoal, Lda.
Portugal sales division
Zona Industrial Vale da Erva, Armazém
C-2, 2615-187 Alverca, Lisboa
Phone: +351-219-936-750
Fax: +351-219-574-982

UNITED KINGDOMITALYMakita (U.K.) Ltd.
Michigan Drive, Tongwell,
Milton Keynes, Bucks MK15 8JD
Phone: +44-(0)1908-211678
Fax: +44-(0)1908-211400

Makita S.p.A.
Via Sempione 269/A,
20028 San Vittore Olona (MI)Phone: +39-0331-524111
Fax: +39-0331-420285

Makita International Europe Ltd.
Michigan Drive, Tongwell,
Milton Keynes, Bucks MK15 8JD
Phone: +44-(0)1908-211678
Fax: +44-(0)1908-211500

GREECE
Makita Hellas S.A.
Tatoiou 232, Acharnes, ATTIKI PC13677
Phone: +30-210-8071241
Fax: +30-210-8072245

Makita Elværktøj Danmark
Denmark office
Erhvervsbyvej 14, 8700 Horsens
Phone: +45-76-254400
Fax: +45-76-254401

SWITZERLAND
Makita SA
Chemin du Vuasset 7
CH-1028 Preverenges
Phone: +41-(0)21-811-5656
Fax: +41-(0)21-811-5678

AUSTRIA
Makita Werkzeug
Gesellschaft m.b.H.
Kolpingstraße 13, A-1230 Wien
Phone: +43-(1)-6162730-0
Fax: +43-(0)1-616273013

SLOVENIA

Makita Manufacturing Europe Ltd.
Hortonwood 7, Telford,
Shropshire TF1 7YX
Phone: +44-(0)1952-677688
Fax: +44-(0)1952-677678

Makita Oy
Teilimäki 4 FIN-01530 Vantaa, Finland
Phone: +358-(0)9-857-880
Fax: +358-(0)9-857-88211

MAKITA d.o.o.
Brnčičeva 49,
SI-1231 Ljubljana-Črnuče
Phone: +386 (0)-590-83-600
Fax: +386 (0)-590-83-601

FRANCEESTONIAUKRAINE

FINLAND

Makita France SAS
Head office37, avenue Graham Bell,ZAC Léonard de Vinci,
Bussy Saint-Georges,
77607 Marne-la-Vallée Cedex 3
Phone: +33-(0)1-6094-6400
Fax: +33-(0)1-6094-6380

Makita Oy Estonian Branch
Estonian office
Piirimäe 13, 76401 Saku vald,
Harjumaa maakond
Phone: +372-6-510-380
Fax: +372-6-510-399

Nantes office
Le Pan Loup, 44220 Couéron
Phone: +33-(0)2-5177-8977
Fax: +33-(0)2-4063-8376

Makita Norway
Løxaveien 11A N-1351 Rud Norway
Phone: +47 99 40 76 00
Fax: +47 67 13 38 83

Bordeaux office
137, Rue de la Croix-de-Monjous,33170 Gradignan
Phone: +33-(0)5-5796-5270
Fax: +33-(0)5-5796-5275

SWEDEN

NorwayMakita Sweden
Bergkällavägen 36 B,192 79
Sollentuna, Sweden
Phone: +46-8-505-819-00
Fax: +46-8-505-819-69

Makita Ukraine LLC
18A, Marka Vovchka str., Kyiv, 04073
Phone: +380-(0)44-494-2370
Fax: +380-(0)44-494-2373

POLAND
Makita Sp. z o.o.
ul. Bestwi ska 103
43-346 Bielsko-Biała
Phone: +48-(0)33-484-0200
Fax: +48-(0)33-818-4059

HUNGARY
Makita Elektromos
Kisgépértékesítö Kft.
8000, Székesfehérvár, Takarodó út 2
Phone: +36-22-507-472
Fax: +36-22-507-484

ROMANIA
Makita Romania S.R.L.
Sos. Bucuresti–Urziceni nr.31 (EXPO
MARKET DORALY, Pavilion R) Com.
Afumati / ILFOV, 077010
Phone: +40-21-351-1382
Fax: +40-21-312-5495
SC Makita EU SRL
Blvd. I.C. Bratianu, nr.164,
Comuna Branesti, jud. ILFOV,ROMANIA 077030
Phone: +40-21-310-7675
Fax: +40-21-200-0219

BULGARIA
Makita Bulgaria EOOD
Sofia circle road, No.373,
Sofia 1186, Bulgaria
Phone: +0359-2-921-0551
Fax: +0359-2-921-0550

RUSSIA
Makita LLC
48-A, Otkrytoe shosse,
Moscow, 107370
Phone: +7-495-380-0151
Fax: +7-495-380-0152
Makita Oy Vladivostok
Representative office
22, St. Makovskogo,
Vladivostok 690041, Primorsky Region
Phone: +7-4232-375-984
Fax: +7-4232-375-985
Makita Oy Novosibirsk
Representative office
Pisemskogo street 1a, build. 2
630110, Novosibirsk
Phone: +7-383-362-1350
Fax: +7-383-362-1349
Makita Oy St. Petersburg
Representative officeObukhovskoy oborony pr. 70 bld. 3A,
192029, St. Petersburg
Phone: +7-812-703-0210
Fax: +7-812-703-0213

MIDDLE EAST & AFRICA
UNITED ARAB EMIRATES
Makita Gulf FZE
P.O. Box 17133, Jebel Ali Free Zone,
Dubai
Phone: +971-(0)4-8860804
Fax: +971-(0)4-8860805

KAZAKHSTAN
Makita Gulf FZE
Kazakhstan Branch188-188a, Kabanbay Batyr Street,
Almaty District, Almaty,
Kazakhstan, 050000
Phone: +7-727-338-41-48
Fax: +7-727-293-06-49

MOROCCOMakita Africa s.a.r.l.a.u.
TANGER MED FREE ZONE
P.O. BOX 203, Ksar Sghir,
90150 Wilaya de Tanger
KINGDOM OF MOROCCO
Phone: + 212(0) 539 93 0851
Fax: +212(0) 539 33 9831

OCEANIA
AUSTRALIA

Makita Corporation
Head Office

Common Stock Listings

3-11-8, Sumiyoshi-cho, Anjo,
Aichi 446-8502, Japan
Phone: +81-(0)566-98-1711
Fax: +81-(0)566-98-6021

Tokyo and Nagoya stock exchanges

Okazaki Plant
22-1, Watarijima, Nemunoki-cho,Okazaki, Aichi 444-0232
Phone: +81-(0)564-43-3111

Tokyo, Nagoya, Osaka, Sapporo, Sendai,
Niigata, Utsunomiya, Saitama, Chiba,
Yokohama, Shizuoka, Gifu, Kanazawa,
Kyoto, Hyogo, Hiroshima, Takamatsu,
Fukuoka, Kumamoto and other major cities

Depositary, Transfer Agent,and Registrar for American
Depositary Receipts

Hobart office
32a Chapel Street Glenorchy,
TAS 7010
Phone: +61-(0)3-6274-1533
Fax: +61-(0)3-6274-1777¥23,805 million

Makita (New Zealand) Ltd.
15 Orbit Drive, Mairangi Bay, Auckland,
New ZealandPhone: +64-(0)9-479-8250
Fax: +64-(0)9-479-8259

American Depositary Receipts
Symbol: MKTAYCUSIP: 560877300

Date of Founding

NEW ZEALAND

Sumitomo Mitsui Trust Bank, Limited
4-1, Marunouchi 1-chome, Chiyoda-ku,
Tokyo 100-8233, Japan

Domestic Sales Offices

Makita (Australia) Pty. Ltd.
Head office
4 Alspec Place, Eastern Creek,
NSW 2766
Phone: +61-(0)2-9839-1200
Fax: +61-(0)2-9839-1201

Perth office535-537 Abernethy Road, Kewdale,
WA 6105
Phone: +61-(0)8-9360-8900
Fax: +61-(0)8-9360-8999

Transfer Agent of Common
Stock

March 21, 1915

Paid-in Capital

Number of Shares Issued
140,008,760 shares,
including 4,262,833 of treasury stock(As of March 31, 2013)

Independent Registered
Public Accounting Firm

BNY Mellon Depositary Receipts
101 Barclays Street,
New York, NY 10286, U.S.A.
Toll Free Number for Domestic Calls:
1-888-BNY-ADRS
1-866-234-6936
Number for International Calls:+1-201-680-6825
Email:
shrrelations@bnymellon.com
Website:http://www.adrbnymellon.com/

Web Site
http://www.makita.biz/ir/

KPMG AZSA LLCCZECH REPUBLIC
Makita, spol. s r.o.
Kaštanová 125d, 620 00 Brno
Phone: +42-(0)5-432-16944
Fax: +42-(0)5-432-16946

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