Makita : Revision of Forecast for Performance PDF / 142KB

For immediate release

Company name: Makita Corporation

Representative: Shiro Hori, President, Representative Director Stock ticker code: 6586

Revision of Forecast for Performance

January 31, 2017

Based on the recent trends of business performances, the forecast for the year ending March 31, 2017, which were announced on October 27, 2016, were revised as stated below.

1. Revised Forecast for Consolidated Performance for the year ending March 31, 2017 (from April 1, 2016 to March 31, 2017)

   Yen (millions) Yen

   Earning per share (Basic)

   Net income

   Operating

   Income before

   Net income

   attributable to Makita

   Forecast announced previously (A) .....	Net sales 390,000	income 60,000	income taxes 60,000	Corporation 41,500	shareholders 305.75
   Revised forecast (B) ...........................	405,000	60,500	62,000	42,800	315.33
   Change (B-A) ......................................	15,000	500	2,000	1,300	-
   Percentage revision..............................	3.8%	0.8%	3.3%	3.1%	-
   Actual results for the previous year
   ended March 31, 2016 .........................	423,623	64,676	61,492	41,615	306.59

   attributable to Makita Corporation common

2. Reasons for Revision of Forecast

The Company has revised its forecast for consolidated performance for the year ending March 31, 2017. This is because the yen has remained weaker against major currencies compared to its initial assumed exchange rates, in addition to robust performance for the first nine-months period of the fiscal year 2017 (April 1, 2016 to March 31, 2017).

[Preconditions]

The above forecast is based on the assumption of exchange rates of 115 yen to the U.S. dollar, 120 yen to the euro and

16.9 yen to the renminbi for the three months period ending March 31, 2017.

The above forecast is based on the assumption of exchange rates of 109 yen to the U.S. dollar and 118 yen to the euro and 16.2 yen to the renminbi for the year ending March 31, 2017.

[Reference]

Our previous exchange rates that we announced on October 27, 2016 were 103 yen to the U.S. dollar, 114 yen to the euro and 15.7 yen to the renminbi for the year ending March 31, 2017.

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