SECURITIES AND EXCHANGE COMMISSION
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 September, 2004
MAKITA CORPORATION
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 of Form 20-F or Form 40-F: ]
| Form 20-F þ | Form 40-F 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 þ |
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.
| MAKITA CORPORATION ————————————————————— (Registrant) |
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| By: | /s/ Masahiko Goto | |||
| (Signature) | ||||
| Masahiko Goto President |
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Date: September 8, 2004
For immediate release
September 8, 2004
Company name:
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Makita Corporation | |||
Representative:
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Masahiko Goto, President | |||
Code number:
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6586 | |||
Stock exchange listings:
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First sections of the Tokyo and Nagoya stock exchanges |
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Revision of the Outlook for Non-consolidated Performance
Makita Corporation (the “Company”) has amended the outlook for performance (non consolidation basis under Japanese GAAP) reported on July 29, 2004 in our financial statements for the first quarter of 2004 as follows.
| 1. | Revised outlook for non-consolidated performance during the interim period of fiscal 2005 (from April 1, 2004, to September 30, 2004) |
| Yen (millions) |
Yen (millions) |
|||||||||||||||||||
| Outlook announced | For the six months | |||||||||||||||||||
| previously | ended September 30, | |||||||||||||||||||
| (A) | Revised outlook | Change | 2003 | |||||||||||||||||
| (On July 29, 2004) |
(B) |
(B-A) |
Percentage revision |
(Results) |
||||||||||||||||
Net sales
|
48,500 | 48,500 | 0 | 0.0 | % | 42,326 | ||||||||||||||
Ordinary profit
|
6,600 | 6,600 | 0 | 0.0 | % | 4,328 | ||||||||||||||
Net income
|
8,000 | 1,000 | (7,000 | ) | (87.5 | %) | 3,877 | |||||||||||||
| 2. | Revised outlook for non-consolidated performance during the fiscal 2005 (from April 1, 2004, to March 31, 2005) |
| Yen (millions) |
Yen (millions) |
|||||||||||||||||||
| Outlook announced | For the fiscal year | |||||||||||||||||||
| previously | ended March 31, | |||||||||||||||||||
| (A) | Revised outlook | Change | 2004 | |||||||||||||||||
| (On July 29, 2004) |
(B) |
(B-A) |
Percentage revision |
(Results) |
||||||||||||||||
Net sales |
88,500 | 88,500 | 0 | 0.0 | % | 88,335 | ||||||||||||||
Ordinary profit |
9,800 | 9,800 | 0 | 0.0 | % | 9,444 | ||||||||||||||
Net income |
9,700 | 2,700 | (7,000 | ) | (72.2 | %) | 5,668 | |||||||||||||
| Note: Net income per share for the fiscal year is projected to be 18.77 yen. | ||
| 3. | Reasons for revision |
Due to the filing of the petition for the commencement of civil rehabilitation procedures of Joyama Kaihatsu Ltd., a consolidated subsidiary of the Company (location of head office: Ichinomiya-cho, Hoi-gun, Aichi; President and Representative Director: Hidetake Nagai; Capital: 1,370 million yen; Major business: management of golf courses), the Company currently expects to incur an estimated extraordinary loss of 7,000 million yen due to restructuring of its affiliate.
In addition, with respect to the consolidated income statement, the Company completed impairment of Joyama’s assets in the previous period, and there has been no effect on the Company’s consolidated profits and losses for the current period at this time.
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.