Form 6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 or 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

For the month of July, 2012

Commission file number 0-12602

MAKITA CORPORATION

 

(Translation of registrant’s name into English)

3-11-8, Sumiyoshi-cho, Anjo City, Aichi Prefecture, Japan

 

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F  þ        Form 40-F  ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b)(1):  x

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101 (b)(7):  ¨

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes  ¨                     No  þ

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-       

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

MAKITA CORPORATION

  (Registrant)
By:  

/s/ Masahiko Goto

  
  Masahiko Goto  
 

President, Representative Director and

Chief Executive Officer

  

Date: July 31, 2012

 

LOGO

For immediate release

July 31, 2012

 

Company name:

    Makita Corporation

Representative:

    Masahiko Goto, President, Representative Director & CEO

Stock ticker code:

    6586

Revision of Forecast for Performance

Based on the recent trends of business performances, the forecast consolidated business results for the year ending March 31, 2013, which were announced on April 27, 2012, were revised as stated below.

1. Revised Forecast for Consolidated Performance

 

     For the six months ending September 30, 2012  
     Yen (millions)     Yen  
     Net sales     Operating
income		     Income
before
income taxes		     Net income
attributable
to Makita
Corporation		     Earning per  share
(Basic)
Net income attributable
to Makita Corporation
common shareholders		  

Outlook announced previously (A)

      150,500        22,600        22,700        15,400        113.44   

Revised forecast (B)

      144,000        21,600        19,200        13,400        98.71   

Change (B-A)

      (6,500 )      (1,000 )      (3,500 )      (2,000 )      —     

Percentage revision

      (4.3% )      (4.4% )      (15.4% )      (13.0% )      —     
Actual results for the previous period ended September 30, 2011      153,036        26,953        24,514        17,104        124.16   

 

     For the year ending March 31, 2013  
     Yen (millions)     Yen  
     Net sales     Operating
income		     Income
before
income taxes		     Net income
attributable
to Makita
Corporation		     Earning per  share
(Basic)
Net income attributable
to Makita Corporation
common shareholders		  

Outlook announced previously (A)

      301,500        44,000        44,200        30,000        220.99   

Revised forecast (B)

      280,000        38,000        35,000        24,000        176.80   

Change (B-A)

      (21,500 )      (6,000 )      (9,200 )      (6,000 )      —     

Percentage revision

      (7.1% )      (13.6% )      (20.8% )      (20.0% )      —     
Actual results for the previous year ended March 31, 2012      295,711        48,516        46,963        32,497        236.78   

2. Reasons for Revision of Forecast

Our sales during the first quarter of the current fiscal year as a whole were, although with some variations by regions, about the same level as we had expected. We revise our forecasts, however, since the yen appreciation against foreign currencies including euro has been higher than our projection that was published on April 27, 2012.

The above forecast is based on the assumption of exchange rates of 78 yen to the U.S. dollar and 93 yen to the euro for the nine months period ending March 31, 2013, and 79 yen to the U.S. dollar and 95 yen to the euro for the year ending March 31, 2013.

(Reference): Our previous exchange rates that we announced on April 27, 2012 were 81 yen to the U.S. dollar and 107 yen to the euro.

 

 

FORWARD-LOOKING STATEMENTS

 

This document contains forward-looking statements based on Makita’s own projections and estimates. The power tools market, where Makita is mainly active, is subject to the effects of rapid shifts in economic conditions, 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 representation that such objectives will be achieved.

 

 

English Translation of press release originally issued in Japanese      1