Makita : Announcement of Establishment of a Technology Development Subsidiary in South Korea PDF / 90KB

For immediate release

April 26, 2018

Company name: Makita Corporation

Representative: Munetoshi Goto, President, Representative Director Stock ticker code: 6586

Announcement of Establishment of a Technology Development Subsidiary in South Korea

Makita Corporation ("the Company", Head Office: Anjyo, Aichi Prefecture; Representative Director: Munetoshi Goto; Capital: 24,206 million yen) is pleased to announce that it has decided to establish its technology development subsidiary in South Korea as follows:

1. Reasons for establishment

Demand for cordless power tools and gardening equipment, our mainstay products, has been growing, chiefly in advanced countries, while competition in the markets has been intensifying.

The Company has currently developed the control technologies of Li-ion battery and motor, the core technology of cordless products, mainly in Japan. However, considering the competitive environment mentioned above, the Company has decided to establish a technology development subsidiary in South Korea with the aim of developing innovative and high-quality technologies and launching new products using such technologies in a timely manner.

South Korea has superior environment as a technology development center, because the country has strength in electronic technology and has many capable engineers; and engineers in Japan and South Korea can exchange their thoughts and opinions easily, since both countries are geographically close and in the same time zone. The Company expects the establishment of a subsidiary will enhance its global technology development capability.

The subsidiary is scheduled to complete its procedures for company foundation in South Korea in May, 2018 and plan improvement of the development capability and the speed.

2. Outline of subsidiary (planned)