UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER

For the month of November, 2008

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: November 28, 2008

Makita Corporation

The 97th Interim Business Report
Ended September 30, 2008
(U.S. GAAP Financial Information)

 
 

(English translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU”
interim business report originally issued in Japanese language
for the benefit and information of shareholders
of the Company’s common stock)

Message from the Managements

     We are pleased to present the outline of operation and financial results for Makita’s 97th interim period, ended September 30, 2008.

n Consolidated Operating Result as Interim Period

     For the six months (“the period”) ended September 30, 2008, the world’s economy has been characterized by financial instability caused in part by the sub-prime loan problems in the United States and by a steep rise in raw material prices, those have spilled over into the global economy, and the business climate is rapidly decelerating.

     What is more, the decrease in demand in the housing market is affecting Japan and the United States and also Western European countries, adding to the intensity of the market downturn.

     In such conditions, Makita has expanded our product lines through the development of power tools such as hammer drills that are equipped with the low-vibration mechanisms which have an established reputation in technology, rechargeable tools that utilize lithium-ion batteries, and gardening equipment outfitted with mini 4-stroke engines.

     In production, we are moving forward with the expansion of the Romanian plant in Eastern Europe and construction of the second plant in Brazil in South America in order to reinforce global capacity and balance.

     In sales, we are also improving and developing sales and after-service networks by establishing and operating local subsidiaries in India and Colombia.

n Consolidated Net Sales Reached a Record High for Fourth Consecutive Terms as Interim Period

     In our consolidated financial results for the period, sales declined in the United States and Japan, but increased 3.6% over the same period of the previous year, to 175,558 million yen, because demand in emerging countries in Eastern Europe, Russia, Southeast Asia, Central and South America, and the Middle East remained strong.

     For the period, sales have risen continuously to a new record for the fourth consecutive period and sales have increased for eight consecutive period.

     In terms of earnings, operating income rose 6.3% compared to the same period of the previous year, to 36,047 million yen (ratio of operating income to net sales; 20.5%), income before income taxes amounted to 34,453 million yen, a 0.04% decline from the same period of the previous year (ratio of income before income taxes to net sales; 19.6%), and net income for the period amounted to 24,851 million yen (ratio of net income to net sales; 14.2%), up 5.3% from the same period of the previous year.

     Net sales by geographic area were as follows:

     In Japan, despite a recovery in the number of housing starts, the market environment continues to remain bleak, contributing to a decrease in sales to 24,378 million yen, down 5.0% from the same period of the previous year.

     In Europe, although sales in Western Europe fell into a downward trend, sales in Eastern Europe and Russia continued to expand, marking a 5.4% increase over the same period of the previous year to 83,131 million yen.

     In North America, sales via the home improvement channel remained steady in persistent stagnation in the U.S. housing market, thanks to having established a partnership with Home Depot U.S.A., Inc., the largest home improvement retailer in the United States, in March 2008. However, sales declined to 25,836 million yen, for a 10.7% decrease, due to a significantly weaker dollar versus the yen in foreign exchange markets for the same period of the previous year.

     In Asia, sales remained robust at 13,163 million yen in Southeast Asia, a 19.4% increase over the same period of the previous year.

     In other regions such as those in Central and South America which are growth countries with abundant resources,

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English Translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU” originally issued in Japanese language

sales amounted to 10,579 million yen, a 30.1% increase compared to the same period of the previous year; while sales in the Middle East and Africa rose 15.2% to 9,964 million yen, and sales in Oceania climbed 2.8%, to 8,507 million yen.

     As a result above, the foreign sales ratio in the period ended September 30, 2008, rose to 86.1%, up 1.2 points from 84.9% in the same period of the previous year.

n Issue to be Addressed

      Regarding the outlook for the future, since the financial instability resulting from a U.S. subprime loan problem has been affecting not only advanced nations but the real economy of the emerging countries which are continuing high growth, our critical concern is that the real economy may enter into a global recessionary phase.

      Moreover, the environment which surrounds the company is becoming still opaquely and severer due to a rising of material cost and a transition to strong yen phase.

n Acquisition of Own Shares

     For the implementation of flexible capital policies in response to changes in the economic environment and gains in shareholder return through an increase in capital efficiency, the Company repurchased 3 million shares of its own common stock at a total cost of 11,923 million yen from May 1, 2008 until May 26, 2008, based on the board of directors resolution of April 30, 2008.

     At the meeting of its board of directors on October 31, 2008, the Company further resolved to repurchase up to 3 million additional shares of its own common stock, at a total cost of up to 6,000 million yen, from November 4, 2008 until December 12, 2008.

n The Interim Dividends of 30 Yen Per Share

     Makita’s basic policy on the distribution of profits is to maintain a dividend payout ratio of at least 30%, with a lower limit on annual cash dividends of 18 yen per share.

     For the interim period under review, Makita declared to pay a dividend of 30 yen per share of the same amount as the interim period of 2007, as announced in April 2008.

     Based on its dividend policy, Makita’s board of directors will decide on proposals for the dividend for the end of the fiscal year at their meeting to approve the financial statements after they are finalized near the end of April 2009. Their proposals will be presented for discussion and final approval at the Ordinary General Meeting of Shareholders.

     We look forward to the continuing support and cooperation of our shareholders.

		November 2008

		Masahiko Goto President and Representative Director

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Feature Section

n Establishment of Local Subsidiaries in India and Colombia

     The Company established new local subsidiaries in the city of Bangalore in India in April 2008 and in the suburbs of Bogota in the Republic of Colombia in June 2008. The establishment of these local subsidiaries will enable the Makita Group to boost sales and to provide quality after-care service in these two countries. As one of the BRICs, India has the second largest population in the world after China and has been demonstrating spectacular economic growth in recent years. Colombia, a country rich in mineral resources and boasting the second largest population in South America after Brazil, is also expected to achieve sound economic growth in the future.

     This brings the number of overseas local subsidiaries to 45.

n Leading the World in Anti-Vibration Technology

     In EU countries where many electric tool makers compete in the market, strict standards have been adopted for regulations that apply to the health and safety of workers. Out of concern for the effects electrical tools with powerful vibrations have on the human body, the EU has established regulations which govern the length of time tools of this nature may be used.

     Makita’s proprietary anti-vibration technology (AVT) achieves excellent vibration suppression in rock material processes where the loading on electric tools is significant and our AVT tools are highly regarded as products that significantly reduce work fatigue.

     As high value-added products, Makita’s AVT tools are not only attracting attention among users in the industry but are also being featured on TV and in other media.

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Consolidated Financial Highlights

		Yen (millions)
		For the six				For the six				For the six
		months				months				months
		ended				ended				ended								For the year
		September				September				September				Rate of				ended March
		30, 2006				30, 2007				30, 2008				change				31, 2008
														(%)
Net Sales			131,891				169,537				175,558				3.6				342,577
Operating Income			21,387				33,899				36,047				6.3				67,031
Operating Income to Net Sales Ratio (%)			16.2	%			20.0	%			20.5	%			—				19.6	%
Income before Income Taxes			21,796				34,468				34,453				0.0				65,771
Net Income			15,390				23,596				24,851				5.3				46,043
Net Income to Net Sales Ratio (%)			11.7	%			13.9	%			14.2	%			—				13.4	%

		As of				As of				As of								As of
		September				September				September				Rate of				March 31,
		30, 2006				30, 2007				30, 2008				change				2008
														(%)
Shareholders’ Equity			279,374				320,144				316,519				(1.1	)			316,498
Total Assets			340,176				393,148				382,000				(2.8	)			386,467
Shareholders’ Equity Ratio to Total Assets (%)			82.1	%			81.4	%			82.9				—				81.9	%

		For the six				For the six				For the six
		months				months				months
		ended				ended				ended								For the year
		September				September				September				Rate of				ended March
		30, 2006				30, 2007				30, 2008				change				31, 2008
														(%)
Capital Expenditures			4,873				7,161				9,827				37.2				15,036
Depreciation and Amortization			3,715				3,879				4,426				14.1				8,871
Research and Development Cost			2,605				2,826				3,493				23.6				5,922
Employees			9,077				10,093				10,799				7.0				10,436
Average Number of Shares Outstanding			143,709,479				143,725,286				141,521,162				—				143,749,824
Net Income per Share			107.1				164.2				175.6				6.9				320.3
Cash Dividends per Share			19.0				30.0				30.0				—				97.0

Notes:		1.	Consolidated financial information has been prepared in accordance with accounting principles generally accepted in the United States.
		2.	In principle, amounts of less than 1 million yen have been rounded.

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Consolidated Net Sales by Geographic Area

		Yen (billions)
		For the six months ended
		September				March 31,				September				March 31,				September
		30, 2006				2007				30, 2007				2008				30, 2008
Japan			22.9				24.0				25.6				26.6				24.4
Europe			56.6				67.4				78.9				81.5				83.1
North America			24.5				27.0				28.9				27.5				25.8
Asia			9.8				9.6				11.0				11.6				13.2
Other Regions			18.1				20.0				25.1				25.9				29.1
Total			131.9				148.0				169.5				173.1				175.6

Profit Ratio

		%
		For the six months ended
		September				March 31,				September				March 31,				September
		30, 2006				2007				30, 2007				2008				30, 2008
Operating Income to Net Sales Ratio			16.2				18.1				20.0				19.1				20.5
Net Income to Net Sales Ratio			11.7				14.6				13.9				13.0				14.2

Production by Geographic Area

		Million units
		For the six months ended
		September				March 31,				September				March 31,				September
		30, 2006				2007				30, 2007				2008				30, 2008
Japan			2.43				2.36				2.43				2.49				2.34
Europe			1.02				1.15				1.02				1.33				1.25
North America			0.54				0.51				0.69				0.78				0.71
China			4.53				4.55				5.97				6.59				6.98
Central and South America			0.22				0.22				0.26				0.26				0.32
Total			8.74				8.79				10.37				11.45				11.60

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Shareholders’ Equity Per Share

		Yen
		As of
		September				March 31,				September				March 31,				September
		30, 2006				2007				30, 2007				2008				30, 2008
Shareholders’ Equity per Share			1,944				2,106				2,227				2,201				2,249

Net Income per Share

		Yen
		For the year ended March 31, 2005				For the year ended March 31, 2006				For the year ended March 31, 2007				For the year ended March 31, 2008				For the year ended March 31, 2009
Net Income per Share for the Interim Period			90.0				179.5				107.1				164.2				175.6
Net Income per Share for the Year			153.9				281.1				257.3				320.3				—

Cash Dividend per Share

		Yen
		For the year ended March 31, 2005				For the year ended March 31, 2006				For the year ended March 31, 2007				For the year ended March 31, 2008				For the year ended March 31, 2009
Cash dividend per share for the Interim Period			11				19				19				30				30
Cash dividend per Share for the Year			47				57				74				97			Undecided

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English Translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU” originally issued in Japanese language

Condensed Consolidated Balance Sheets

		Yen(millions)
						As of
		As of				September 30,				Increase
		March 31, 2008				2008				(Decrease)
ASSETS
CURRENT ASSETS:
Cash and Cash Equivalents			46,306				42,678				(3,628	)
Time Deposit			2,393				3,591				1,198
Marketable Securities			49,443				34,865				(14,578	)
Notes Receivable in Trade			2,950				3,011				61
Accounts Receivable in Trade			60,234				60,989				755
Less- Allowance for Doubtful Receivables			(1,018	)			(1,032	)			(14	)
Inventories			112,187				120,210				8,023
Deferred Income Taxes			6,478				6,587				109
Prepaid Expenses and Other Current Assets			11,382				11,656				274
Total Current Assets			290,355				282,555				(7,800	)
PROPERTY, PLANT AND EQUIPMENT:
Land			18,370				18,463				93
Buildings and Improvements			64,268				63,311				(957	)
Machinery and Equipment			75,651				77,007				1,356
Construction in Progress			2,765				6,436				3,671
Less-Accumulated Depreciation			(91,996	)			(91,206	)			790
Total Property, Plant and Equipment			69,058				74,011				4,953
INVESTMENTS AND OTHER ASSETS:
Investment Securities			18,034				15,927				(2,107	)
Deferred Income Taxes			1,826				1,219				(607	)
Other Assets			7,194				8,288				1,094
Total Investments and Other Assets			27,054				25,434				(1,620	)
TOTAL ASSETS			386,467				382,000				(4,467	)

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English Translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU” originally issued in Japanese language

Condensed Consolidated Balance Sheets

		Yen (millions)
						As of
		As of				September 30,				Increase
		March 31, 2008				2008				(Decrease)
LIABILITIES
CURRENT LIABILITIES:
Short-term Borrowings			1,724				1,123				(601	)
Trade Notes and Accounts Payable			23,372				22,835				(537	)
Accrued Payroll			8,096				7,772				(324	)
Accrued Expenses and Other			18,888				17,973				(915	)
Income Taxes Payable			7,518				5,374				(2,144	)
Deferred Income Taxes			58				32				(26	)
Total Current Liabilities			59,656				55,109				(4,547	)
LONG-TERM LIABILITIES:
Long-term Indebtedness			908				861				(47	)
Accrued Retirement and Termination Allowances			3,716				3,353				(363	)
Deferred Income Taxes			1,215				1,836				621
Other Liabilities			1,958				1,931				(27	)
Total Long-term Liabilities			7,797				7,981				184
Total Liabilities			67,453				63,090				(4,363	)
MINORITY INTERESTS			2,516				2,391				(125	)
SHAREHOLDERS’ EQUITY:
Common Stock			23,805				23,805				—
Additional Paid-in Capital			45,753				45,752				(1	)
Legal Reserve and Retained Earnings			254,860				270,079				15,219
Accumulated Other Comprehensive Income (Loss)			(7,657	)			(10,908	)			(3,251	)
Treasury Stock, at cost			(263	)			(12,209	)			(11,946	)
Total Shareholders’ Equity			316,498				316,519				21
TOTAL LIABILITIES, MINORITY INTERESTS AND SHAREHOLDERS’ EQUITY			386,467				382,000				(4,467	)

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English Translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU” originally issued in Japanese language

Condensed Consolidated Statements of Income

		Yen (millions)
		For the six				For the six
		months ended				months ended
		September 30,				September 30,				Increase
		2007				2008				(Decrease)
										(Amount)				(%)
NET SALES			169,537				175,558				6,021				3.6
Cost of Sales			98,847				100,824				1,977				2.0
GROSS PROFIT			70,690				74,734				4,044				5.7
Selling, General and Administrative Expenses			36,791				38,687				1,896				5.2
OPERATING INCOME			33,899				36,047				2,148				6.3
OTHER INCOME (EXPENSES):
Interest and Dividend Income			1,022				954				(68	)			(6.7	)
Interest Expense			(166	)			(169	)			(3	)			—
Exchange Losses on Foreign Currency Transactions, net			(125	)			(1,462	)			(1,337	)			—
Realized Gains (Losses) on Securities, net			8				(660	)			(668	)			—
Other, net			(170	)			(257	)			(87	)			—
Total Other Income			569				(1,594	)			(2,163	)			—
INCOME BEFORE INCOME TAXES			34,468				34,453				(15	)			0.0
PROVISION FOR INCOME TAXES:
Current			10,168				7,686				(2,482	)			(24.4	)
Deferred			704				1,916				1,212				172.2
Total			10,872				9,602				(1,270	)			(11.7	)
NET INCOME			23,596				24,851				1,255				5.3

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English Translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU” originally issued in Japanese language

Consolidated Statements of Cash Flows

		Yen (millions)
		For the six months				For the six months
		ended September 30,				ended September 30,
		2007				2008
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income			23,596				24,851
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and Amortization			3,879				4,426
Provision for Deferred Income Taxes			704				1,916
Realized Losses (Gains) on Securities, net			(8	)			660
Losses on Disposals or Sales of Property, Plant & Equipment			199				324
Changes in Assets and Liabilities:
Trade Notes			(4,682	)			(2,308	)
Inventories			(9,436	)			(10,498	)
Trade Notes and Accounts Payables and Accrued Expenses			(2,555	)			(1,804	)
Income Taxes Payable			(2,316	)			(2,602	)
Accrued Retirement and Termination Benefits			(1,043	)			(1,180	)
Other, net			355				437
Net Cash Provided by Operating Activities			13,803				14,222
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital Expenditures			(7,161	)			(9,827	)
Purchases of Available-for-sale Securities			(12,483	)			(343	)
Proceeds from Sales of Available-for-sale Securities			4,516				12,147
Proceeds from Maturities of Available-for-sale Securities			11,000				2,000
Proceeds from Maturities of Held-to-maturity securities			500				300
Proceeds from Sales of Property, Plant and Equipment			9				145
Decrease (Increase) in Time Deposits			274				(1,176	)
Cash Paid for Acquisition of Business			(2,030	)			—
Other, net			425				(114	)
Net Cash Provided by (Used in) Investing Activities			(4,950	)			3,132
CASH FLOWS FROM FINANCING ACTIVITIES:
Increase (Decrease) in Short-term borrowings			(1,975	)			(620	)
Purchase and Sales of Treasury stock			(33	)			(11,947	)
Cash Dividends Paid			(7,903	)			(9,633	)
Other, net			(136	)			(311	)
Net Cash Used in Financing Activities			(10,047	)			(22,511	)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS			(248	)			1,529
NET CHANGE IN CASH AND CASH EQUIVALENTS			(1,442	)			(3,628	)
CASH AND CASH EQUIVALENTS, Beginning of Period			37,128				46,306
CASH AND CASH EQUIVALENTS, End of Period			35,686				42,678

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English Translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU” originally issued in Japanese language

Operating Segment Information

For the six months ended September 30, 2007

		Yen (millions)
																										Corporate
										North																and elimi-				Consoli-
		Japan				Europe				America				Asia				Other				Total				nations				dated
Sales:
(1) External Customers			35,281				78,871				28,792				5,511				21,082				169,537				—				169,537
(2) Inter-Segment			34,085				2,707				2,342				48,684				106				87,924				(87,924	)			—
Total			69,366				81,578				31,134				54,195				21,188				257,461				(87,924	)			169,537
Operating Expenses			57,352				68,485				30,016				47,603				18,240				221,696				(86,058	)			135,638
Operating Income			12,014				13,093				1,118				6,592				2,948				35,765				(1,866	)			33,899
Identifiable Assets			264,846				122,170				43,035				56,020				29,036				515,107				(121,959	)			393,148

For the six months ended September 30, 2008

		Yen (millions)
																										Corporate
										North																and elimi-				Consoli-
		Japan				Europe				America				Asia				Other				Total				nations				dated
Sales:
(1) External Customers			35,371				83,192				26,062				6,009				24,924				175,558				—				175,558
(2) Inter-Segment			33,454				2,792				2,809				51,597				79				90,731				(90,731	)			—
Total			68,825				85,984				28,871				57,606				25,003				266,289				(90,731	)			175,558
Operating Expenses			59,925				70,438				27,726				50,201				20,881				229,171				(89,660	)			139,511
Operating Income			8,900				15,546				1,145				7,405				4,122				37,118				(1,071	)			36,047
Identifiable Assets			249,134				135,537				42,479				56,936				37,335				521,421				(139,421	)			382,000

Note:

Segment information is determined by the location of the Company and its consolidated subsidiaries.

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Condition of Shareholders and Shares

(As of September 30, 2008)

Total Number of Shares Authorized		496,000,000 shares
Total Number of Shares Outstanding		144,008,760 shares (including 3,241,663 shares of treasury stock)
Number of Shareholders		16,200 (2,248 increase compared with as of March 31, 2008)
10 Largest Shareholders

		Number of Shares Held
Name of Shareholder		Units (thousand)				%
Japan Trustee Services Bank, Ltd. (Trust account)			12,013				8.34
The Master Trust Bank of Japan, Ltd. (Trust account)			7,354				5.10
The Bank of Tokyo-Mitsubishi UFJ, Ltd.			5,213				3.62
Japan Trustee Services Bank, Ltd. (Trust account 4G)			4,944				3.43
Nippon Life Insurance Company			4,013				2.78
Makita Cooperation Companies’ Investment Association			3,811				2.64
Maruwa Co.,Ltd.			3,309				2.29
National Mutual Insurance Federation of Agricultural Cooperatives			3,190				2.21
Sumitomo Mitsui Banking Corporation			2,900				2.01
Hero & Co.			2,607				1.81
Total			49,353				34.27

Distribution of Share-ownership

		Number of Shares Held
Class of Shareholder		Units (thousand)				%
Financial Institutions and Securities Firms			59,235				41.1
Japanese Individuals and Other			25,396				17.6
Foreign Investors			39,230				27.3
Other Japanese Business Corporations			16,905				11.7
Treasury Stock			3,242				2.3

		Number of Shareholders
Class of Shareholder		Units				%
Financial Institutions and Securities Firms			172				1.1
Japanese Individuals and Other			15,197				93.8
Foreign Investors			420				2.6
Other Japanese Business Corporations			410				2.5
Treasury Stock			1				0.0

Basic policy regarding profit distribution

     Makita’s basic policy on the distribution of profits is to maintain a dividend payout ratio of 30% or greater, with a lower limit on annual cash dividends of 18 yen per share. However, in the event special circumstances arise, computation of the amount of dividends will be based on consolidated net income after certain adjustments. With respect to repurchases of its outstanding shares, Makita aims to implement a flexible capital policy, augment the efficiency of its capital employment, and thereby boost shareholder profit. Also Makita continues to consider execution of own share repurchases in light of trends in stock prices.

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English Translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU” originally issued in Japanese language

Corporate Data

(As of September 30, 2008)

Makita Corporation
3-11-8, Sumiyoshi-cho, Anjo, Aichi 446-8502, Japan
Phone: (0566) 98-1711
Website: http://www.makita.co.jp/global

Date of founding		March 21, 1915
Date of incorporation		December 10, 1938
Paid-in Capital		24,206 million yen (non-consolidated)
Description of business		Production and sales of electric power tools, air tools, garden tools and household tools
Number of consolidated subsidiaries		48(Domestic 3, Overseas 45)
Significant subsidiaries		Makita U.S.A. Inc. Makita Corporation of America Makita (U.K.) Ltd. Makita Manufacturing Europe Ltd. (U.K.) Makita Werkzeug GmbH (Germany) Dolmar GmbH (Germany) Makita S.p.A. (Italy) Makita Oy (Finland) Makita (China) Co., Ltd. Makita (Kunshan) Co., Ltd. Makita Numazu Corporation
Number of equity method affiliates		1
Plants		Three in Japan, eight outside of Japan (two in China, and one each in the United States, Canada, Brazil, the United Kingdom, Germany and Romania)
Employees		10,799 (consolidated)
		2,969 (non-consolidated)

Board of Directors

President and Representative Director		Masahiko Goto
Managing Directors		Masami Tsuruta		(In charge of Domestic Business)
		Yasuhiko Kanzaki		(In charge of Overseas Business, General Manager of International Sales Headquarters: in charge of Europe Region)
Directors		Kenichiro Nakai		(General Manager of Administration Headquarters)
		Tadayoshi Torii		(General Manager of Production Headquarters)
		Tomoyasu Kato		(General Manager of Development and Engineering Headquarters)
		Shiro Hori		(General Manager of International Sales Headquarters: in charge of America, Asia, Oceania Region and International Administration)
		Tadashi Asanuma		(General Manager of Domestic Sales Marketing Headquarters: in charge of Tokyo Area)
		Hisayoshi Niwa		(General Manager of Quality Headquarters)
		Zenji Mashiko		(General Manager of Domestic Sales Marketing Headquarters: in charge of Nagoya Area)
		Toshio Hyuga		(General Manager of Domestic Sales Marketing Headquarters: in charge of Osaka Area)
		Shinichiro Tomita		(Assistant General Manager of Production Headquarters: in charge of China Plant)
		Tetsuhisa Kaneko		(General Manager of Purchasing Headquarters)
Outside Director		Motohiko Yokoyama		(President and Representative Director of JTEKT Corporation)

Board of Statutory Auditors

Standing Statutory Auditor		Toshihito Yamazoe
		Haruhito Hisatsune		(Outside Auditor)
Statutory Auditor		Masahumi Nakamura		(Outside Auditor, Certified Accountant)
		Michiyuki Kondo		(Outside Auditor, Lawyer)

Independent Registered Public Accounting Firm

KPMG AZSA & Co.

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English Translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU” originally issued in Japanese language

Information on Shares

(As of September 30, 2008)

Fiscal period		From April 1 to March 31 of each year
Ordinary general meeting of shareholders		June of each year
Number of shares constituting one unit		100 shares
Record dates		1) Ordinary general meeting of shareholders and cash dividends for the second half March 31 of each year
		2) Cash dividends for the interim period September 30 of each year
Transfer agent of common stock		The Chuo Mitsui Trust and Banking Company, Limited 33-1, Shiba 3-chome, Minato-ku, Tokyo 105-8574, Japan
Its handling office		The Chuo Mitsui Trust and Banking Company, Limited Nagoya Branch Office 15-33, Sakae 3-chome, Naka-ku, Nagoya, Aichi 460-8685, Japan Website: http://www.chuomitsui.co.jp/person/p_06.html
Its liaison offices		Head office and nationwide branch offices of The Chuo Mitsui Trust and Banking Company, Limited Head office and nationwide branch offices of Japan Securities Agents, Ltd.
Means of public notice		Website: http://www.makita.co.jp/ir/index1.htm
Common stock listings		Domestic          Tokyo and Nagoya stock exchanges (stock code: 6586) Overseas          American Depositary Receipts: The Nasdaq Global Select Market                          (stock code: MKTAY, change for MKTA from 2009, scheduled)

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English Translation of “CHUKAN-KI JIGYOU NO GOHOUKOKU” originally issued in Japanese language