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 October, 2010

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  x       Form 40-F  o

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):  o

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  o                No  x

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.

Date: October 27, 2010

For immediate release

October 27, 2010

Company name:		Makita Corporation
Representative:		Masahiko Goto, President, Representative Director & CEO
Stock ticker code:		6586

Revision of Forecasts for Performance

     Makita Corporation announces the following revisions in its forecasts for consolidated performance (released on July 30, 2010) and non-consolidated performance (released on April 28, 2010) as follows.

1. (1) Revised Forecast for Consolidated Performance for the six months ended September 30, 2010

 

Yen (millions)																		Yen
For the six months ended September 30, 2010
		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
Initial forecast (A)			128,000				17,000				16,000				10,600				76.95
Revised forecast (B)			133,800				21,800				21,700				15,100				109.61
Change (B-A)			5,800				4,800				5,700				4,500				–
Percentage revision			4.5%				28.2%				35.6%				42.5%				–
Actual results for the six months ended September 30, 2009			118,681				14,866				17,271				10,622				77.10

 

Yen (millions)																		Yen
For the fiscal year ending March 31, 2011
		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
Initial forecast (A)			250,000				30,000				29,500				19,800				143.73
Revised forecast (B)			255,000				36,000				35,500				25,000				181.48
Change (B-A)			5,000				6,000				6,000				5,200				–
Percentage revision			2.0%				20.0%				20.3%				26.3%				–
Actual results for the previous fiscal year ended March 31, 2010			245,823				30,390				33,518				22,258				161.57

English Translation of press release originally issued in Japanese		1

2. (1) Revised Forecast for Non-Consolidated Performance for the six months ended September 30, 2010

 

Yen (millions)																		Yen
For the six months ended September 30, 2010
		Net sales				Operating income				Ordinary Profit				Net income				Net income per share
Previous forecast (A)			44,300				1,100				4,600				3,800				27.58
Revised forecast (B)			49,200				3,000				6,800				6,400				46.46
Change (B-A)			4,900				1,900				2,200				2,600				–
Percentage revision			11.1%				172.7%				47.8%				68.4%				–
Actual results for the six months ended September 30, 2009			37,769				(2,147	)			5,186				3,972				28.83

2. (2) Revised Forecast for Non-Consolidated Performance for the fiscal year ending March 31, 2011

 

Yen (millions)																		Yen
For the fiscal year ending March 31, 2011
		Net sales				Operating income				Ordinary Profit				Net income				Net income per share
Previous forecast (A)			88,500				2,100				5,900				4,600				33.39
Revised forecast (B)			100,000				4,600				8,700				7,300				52.99
Change (B-A)			11,500				2,500				2,800				2,700				–
Percentage revision			13.0%				119.0%				47.5%				58.7%				–
Actual results for the previous fiscal year ended March 31, 2010			82,657				(423	)			7,419				3,255				23.63

3. Reasons for Revision of Forecast
(1) Consolidated financial forecast

     As for forecasts for consolidated results, both net sales and profits are expected to become higher than the previous forecasts since the demand for power tools has been strong in the overseas market, although the yen value appreciation against major currencies will continue to have some negative impact.

(2) Non-consolidated financial forecast
     As for forecasts for non-consolidated results, both net sales and profits are expected to become higher than the original forecasts since orders from overseas customers have been recovering and, thus, exports have been strong.

     The above forecast is based on the assumption of exchange rates of 80 yen to the U.S. dollar and 110 yen to the euro for the six months ending March 31,2011.

English Translation of press release originally issued in Japanese		2