January 31, 2022

Company name:

Makita Corporation

Representative:

Munetoshi Goto, President, Representative Director

Stock ticker code:

6586

Notice Regarding Revision of Consolidated Financial Forecast for the Fiscal Year Ending March 31, 2022

We revised the financial forecast for the fiscal year ending March 31, 2022, announced on October 28, 2021 as follows reflecting our recent financial performance.

1. Consolidated financial forecast

Revision of consolidated financial forecast for the year ending March 31, 2022 (April 1, 2021 to March 31, 2022)

For the year ending March 31, 2022

Yen (millions)

Yen

Profit

Profit

attributable

Operating

Profit before

attributable

to owners of

Revenue

to owners of

the parent

profit

income taxes

the parent

per share (Basic)

Forecast announced previously (A).......

690,000

90,000

90,000

65,000

239.38

Forecast (B) ...........................................

710,000

90,000

90,000

65,000

239.38

Change (B-A) .........................................

20,000

0

0

0

-

Percentage revision ................................

2.9%

0.0%

0.0%

0.0%

-

Actual results for the previous year

ended March 31, 2021............................

608,331

88,464

87,199

62,018

228.41

2. Reasons for announcement and assumptions for financial forecast

We have revised our consolidated financial forecast because sales until the third quarter were stronger than expected in response to demand for tools at building and construction sites. Meanwhile, we have left its previous forecast for profits unchanged, considering the impact of soaring transportation costs, etc.

The above earnings forecast is based on the premise that economic activities will not stagnate again due to restrictions imposed by government following the rebound of the COVID-19 outbreak. The exchange rates assumed for the business forecast are as follows;

[Currency exchange rate assumption]

The above forecast is based on the assumption of exchange rates of 110 yen to the U.S. dollar, 125 yen to the euro and 17.5 yen to the renminbi for the remaining three months period ending March 31, 2022.

The above forecast is based on the assumption of exchange rates of 111 yen to the U.S. dollar, 129 yen to the euro and 17.3 yen to the renminbi for the year ending March 31, 2022.

[Reference]

The exchange rates for previously announced forecasts that we announced on October 28, 2021 were 110 yen to the U.S. dollar, 130 yen to the euro and 17.1 yen to the renminbi for the year ending March 31, 2022.

Note: The above forecast is based on information as available at the present time, and includes potential risks and uncertainties. As a consequence of the factors such as COVID-19 infection status, actual results may vary from the forecast provided above.

English Translation of press release originally issued in Japanese

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Makita Corporation published this content on 31 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 January 2022 06:20:14 UTC.