Contents Fiscal 2016 Highlights

Fiscal 2016 Highlights 1

Message to Shareholders 4

Corporate Governance 8

Directors, Audit & Supervisory Board Members and

Corporate Officers 12

Reinforcing Our Global Sales

and After-sales Service Systems 13

New Products in Fiscal 2016 14

10-Year Summary 16

Consolidated Financial Statements 18

Corporate Directory 23 Parts, Repairs and

Corporate Data 25 Accessories
Share of Net Sales (FY2016)

Profile
In 1958, Makita Corporation, founded in 1915 as an electric motor sales and
15.9%
repair company, became the first company in Japan to manufacture and sell
portable electric planers. Over the half century since, Makita has worked to build Net Sales

¥67,458Mil.
a steady position as a manufacturer of portable power tools. Today, Makita
continues to provide products and services that are beneficial in creating homes
and living environments. Makita’s history is one of close interaction with
customers and parallels the evolution of power tools. As a leading manufacturer
and marketer of power tools, Makita operates a network of production, direct
bases and service offices in Japan and about 50 countries around the world. The
ratio of overseas production is 90% on a unit basis, and 84% of consolidated
sales come from overseas markets. Through the power of its brand, supported by
technology, quality and after-sales support, Makita has secured a powerful
competitive advantage and established a solid position as a leader in the global
power tools market.

Vision
Always placing itself in the customer’s position, Makita aims to be a global
supplier of a comprehensive range of power tools that assist people in creating
homes and living environments, while continuously striving to become a truly
global corporation. On the basis of this stance, by continuing to develop
market-leading products, we aim to become a consistently strong company. With
this, we mean a company that can capture and maintain worldwide market
leadership as a global total supplier of professional power tools, gardening
equipment and pneumatic tools to customers around the world.
Share of Net Sales Power Tools
■ Power Tools
■ Gardening Equipment, Household and
Other Products Share of Net Sales (FY2016)

65.3%
■ Parts, Repairs and Accessories

Share of Net Sales

(% / FY2016)

Net Sales

¥276,752Mil.
15.9

18.8
65.3

Net Sales
(millions of yen)
Gardening Equipment,
Household and
56,692
64,886 67,458 Other Products
78,600 79,413
57,281 Share of Net Sales (FY2016)

269,234 271,232 276,752

18.8%
Net Sales

‘14 ‘15 ‘16

¥79,413Mil.
1
 Fiscal 2016 Highlights

Key Figures

Operating Operating
Net Sales Income Margin

¥423,623Mil. ¥64,676Mil. 15.3%

2.1% UP 10.1% DOWN 2.0pt DOWN

Overseas Number of Production

Net Sales Ratio Employees Output
(Consolidated)

83.8% 14,784 26.53Mil. (units)

Capital
R&D Costs Expenditures ROE

¥9,593Mil. ¥11,769Mil. 8.6%

2
Sales by Region

EUROPE NORTH AMERICA

Net Sales Net Sales

¥173,987Mil. ¥67,759Mil.
0.7
0.7%% DOWN
DOWN
Share of Net Sales
(% / FY2016)
18.5
18.5%% UPUP
17.0 16.2

9.8 16.0
ASIA (excluding Japan) JAPAN
Net Sales 41.1 Net Sales

¥41,443Mil. ¥68,445Mil.
4.5
4.5%% UPUP 1.0
1.0%% UPUP

OTHER REGIONS Central and

South America
Oceania The Middle East
and Africa
Net Sales Net Sales Net Sales Net Sales

¥71,989Mil. ¥26,149Mil. ¥24,653Mil. ¥21,187Mil.

13.7 3.8 1.5
3.9
3.9%% DOWN
DOWN
13.7%%DOWN
DOWN 3.8%%UPUP 1.5%%UPUP

3
 Message to Shareholders

Aiming to Be the Global Leader in Power Tools

Masahiko Goto
Chairman,
Representative Director

Shiro Hori
President,
Representative Director

What are the highlights of other factors. Meanwhile, the U.S. economy expanded
moderately on the back of firm consumer spending and
fiscal 2016? housing investment. Among emerging nations, markets
mainly in oil-producing countries were weakened by
In fiscal 2016 (the year ended March 31, 2016), falling crude oil prices, while the Chinese economy
economies in Western Europe grew steadily, especially continued to slow, causing surrounding nations in Asia
in major nations, while the Russian economy remained to stagnate. In Japan, there were signs of improvements
sluggish due to low crude oil prices, a weak ruble, and in corporate results and the employment situation, but

4
 Greetings from the of recovery in Southern Europe, which had been weak,
thus compensating for stagnation in the Russian market.
Management In general, emerging nations faced economic slowdown,
including in the BRIC countries, previously drivers of the
As a global supplier of a world economy, and some regions struggled here and
comprehensive range of power there. In this context, we achieved positive year-on-year
tools that assist people in creating growth in local-currency terms in all business regions,
homes and living environments,
except in the Middle East and Africa, which we believe is
Makita aspires to be No. 1 in the
a satisfactory outcome.
world market for power tools.
Having celebrated 100 years since
our foundation, we have taken
a new step. Even in this difficult Which initiatives do you
economic environment, we will regard as successful in
continue actively maintaining fiscal 2016?
and strengthening our sales
capabilities—a key Makita
To celebrate our centennial, we held a variety of events
strength—while responding flexibly
to convey our feeling of gratitude to people all over the
to change. In the process, we
will make solid progress toward world. Through these activities, we worked particularly

becoming a truly strong company hard to strengthen relations with customers, and we feel

for the next generation. this directly contributed to our favorable performance.
In the background is Makita’s long-held culture, which
places importance on close communication with
customers. Based on information about what customers
think and what they want, we have identified our future
direction and developed specific products accordingly—an
approach that has helped build the Makita of today. This
approach has led to the creation of products powered by
lithium-ion batteries that have earned very high acclaim.
weak personal consumption cast a shadow over economic During the year, we continued making investments
recovery. aimed at improving sales promotion and sales expansion
In fiscal 2016, Makita posted consolidated net sales activities and after-sales services with close ties to local
of ¥423.6 billion, up 2.1% from the previous year. This customers, adopting a global perspective unrelated
marked record-high net sales and increased revenue for to economic changes in our business development
the sixth consecutive year. In Europe, a major market regions. These efforts had a positive effect, we believe.
for Makita, we enjoyed favorable results, especially in As the clouds darken over our business environment,
major Western European nations. We also noted signs characterized by irregular national and regional economic

5
 How do you evaluate
your initiatives and
outcomes with respect to
product development and
production?
On the production side, we are continuing to promote
labor-saving and automation at our manufacturing plants
around the world, which will not only reduce human error
and ensure consistently high product quality but also
contribute to cost reductions. We will continue such efforts
into the future.
From a development point of view, we will focus
on eliminating cords from power tools, making them
rechargeable, while replacing conventional engines with
battery-powered motors. With this development theme
as a base, we will concentrate on meeting the needs of
equipment that generate less vibrations, dust and sounds,
as well as worksites that are safe, comfortable, and eco-
performances, market conditions are deteriorating. Under friendly. In fiscal 2016, we expanded and upgraded our
our long-term perspective, we firmly maintain ties with lineup of products other than power tools, reflecting
customers in regions where we have started business feedback from people working on the front lines. New
development, rather than being swayed by temporary products included a worksite-compatible cordless coffee
peaks and troughs. By addressing needs in this way, we maker, cordless backpack vacuum cleaner, summer-
demonstrate the importance we place on not allowing cooling cordless fan jacket, and winter-warming cordless
the quality of our services to decline. We will continue heated jacket. These items attracted numerous inquiries
developing our business in the eyes of our customers. and were so popular that production could not keep up
Entrenching this approach will also lead to more in some cases. We also launched sales of Robot Cleaner,
opportunities to increase our market share in regions a commercial-use robot vacuum cleaner developed
where business development is underway. Going forward, jointly with Sharp Corporation. This product combines
we will continue striving to reinforce our network of the automated drive and sensing technologies amassed
service operations. by Sharp with Makita’s strength in battery systems. We
will continue sharing advanced technologies to develop
products that create new levels of market value.
Makita is stepping up initiatives in outdoor power
equipment (OPE), or gardening equipment, its second

6
business pillar after power tools. In addition to improving
What is your growth
environmental performance, where public interest is high,
we are tackling the very big challenge of replacing engine-
strategy going forward?
driven products, which have traditionally dominated the
market, with battery-powered models. For customers in In addition to communicating with customers, we need
industrialized nations, in particular, our battery-powered to communicate more closely within the Group, so we
products are not only quiet and easy to use but is also can take on board and address business environment
expected to deliver power on a par with engine-driven changes and market needs as an organization. If we can
equipment. Battery charge duration is also good, which achieve this, we can envisage the future and nurture our
is inspiring recognition of these products. Since our initial responsiveness, and we will entrench this mindset going
entry phase in this domain, we have made good progress forward.
and can see a clear path moving forward. Fiscal 2017, ending March 31, 2017, will be another
tumultuous year, we believe. Although we will need to
address changes flexibly as a matter of course, we must

Looking to the next 100 be careful not to be too sensitive and overreact when
confronted with change. Rather, it is important to deliver
years, what aspects do you steady improvements in service levels as a manufacturer
deem necessary to achieve based on long-term perspectives. Through cumulative
further major advancement? progress in this way, we can move forward, one step at a
time, while nurturing small seedlings into huge thriving
Ideally, as a corporate entity, we are seeking to be a trees. By always fostering this potential to thrive, we will
robust company that is resilient against weak market be prepared when opportunities arise.
conditions and not significantly impacted by the economic The value of a company’s existence lies in its capacity
circumstances of certain regions. In our quest to become a to improve its provision of required services over the long
truly “strong company,” our first important task is to further term. We will continue communicating closely with all
raise our market share. Realizing a high market share will stakeholders as we target steady future growth. To this
enable us to keep downturns caused by bad economic end, we will seek to manufacture and offer products that
conditions to a minimum, and provide a basis to achieve satisfy end users, further enhance our industry-leading
steady growth and rapidly increase our market share even sales and after-sales service capabilities, and pass the
further once economic conditions pick up. Indeed, the Makita brand that we inherited to the next generation.
best time to invest to broaden after-sales services and our We encourage you, our stakeholders, to have high
service network is when nations and regions earmarked for expectations for Makita’s renewed development, and we
business development face difficult economic conditions. look forward to your ongoing understanding and support.
At such times, we will deploy our sales capabilities—a key
Makita strength—and continue our marketing activities,
which are crucial for building a foundation to boost market
share.

7
 Corporate Governance to management. The Corporation introduced a corporate
officer system to facilitate prompt implementation of the
Overview of the Corporate Governance Structure Group strategy and strengthen the business execution
The Corporation has adopted an audit and supervisory board structure, and strives to engage in flexible and efficient
system. The Audit & Supervisory Board consists of four Audit & business operation and enhance corporate value. The Board
Supervisory Board members, three of whom are independent of Directors currently consists of fourteen directors, two of
outside Audit & Supervisory Board members who are not and whom are independent outside directors. The Corporation’s
have not been employed by the Corporation, including two Articles of Incorporation stipulate that the number of
who serve in a part-time capacity. The two standing Audit & directors shall not exceed fifteen.
Supervisory Board members are able to audit the execution
of duties by directors at all times. Two of the four Audit & Internal Audits and Audits by Audit & Supervisory
Supervisory Board members have considerable knowledge Board Members
of finance and accounting. The Audit & Supervisory Board As an independent organization in charge of the
members share information by means including the provision Corporation’s internal audits, the Internal Audit Division
of audit reports and reports on the Corporation’s condition conducts the internal audits necessary to maintain the
to the independent auditor in charge of the Corporation’s soundness of the Corporation’s management.
financial audits as needed. The Corporation’s Articles of With regard to audits by Audit & Supervisory Board
Incorporation stipulate that the number of Audit & Supervisory members, in accordance with the audit policy and division
Board members shall not exceed five. of duties established by the Audit & Supervisory Board, the
The Board of Directors determines basic policies, four Audit & Supervisory Board members attend meetings of
matters required by law, and important matters relating the Board of Directors and other important meetings, receive

The following is a schematic diagram of Makita Group’s corporate governance structure.

General Meeting of Shareholders

Appointment / Dismissal Appointment / Dismissal Appointment / Dismissal

Board of Directors Audit Audit & Supervisory Board Collaboration

14 Directors including 4 Members including Independent Auditor
2 Outside Directors 3 Outside Members

Appointment / Dismissal / Supervision dit Support

Au
Audit Staff Office
Chairman Report

President Disclosure Committee

Report

Corporate Corporate Officer, General Manager

Internal Audit Division
Officer of Administration Headquarters
Audit

Corporate Divisions / Group Companies Financial Statements Audit / Internal Control Audit

8
reports on operations from the directors, read important as president and representative director of LIXIL Group
documents such as approval requests, and examine the status Corporation, Japan’s leading comprehensive living and
of operations and assets at the head office and principal places housing solutions group, and as president and representative
of business. They request business reports from subsidiaries, of LIXIL Corporation, and currently serves as advisor to
and as necessary, visit subsidiaries to examine the status of LIXIL Corporation. Mr. Sugino attends meetings of the
operations and assets. They also share information by receiving Corporation’s Board of Directors and is responsible for
audit reports and reports on the Corporation’s condition from strengthening the management oversight function based
the independent auditor as needed. on the experience and knowledge acquired throughout his
career as a management professional.
Relationships with the Outside Director and There are no personal relationships or other interests
Outside Audit & Supervisory Board Members between the Corporation and Mr. Sugino. Although the
Outside Director Mr. Akiyoshi Morita formerly served Makita Group sells products to LIXIL Corporation, for whom
successively as president and chairman and currently serves Mr. Sugino previously worked, the transaction amount
as advisor to Aichi Steel Corporation, a core company of the in the fiscal year ended March 31, 2016 was ¥5 million,
Toyota Group, one of the world’s leading corporate groups. Mr. representing less than 0.01% of the consolidated net sales
Morita attends meetings of the Corporation’s Board of Directors of the Makita Group. Although the Corporation holds shares
and is responsible for strengthening the management oversight of LIXIL Group Corporation, the amount on the consolidated
function based on experience and knowledge as a management balance sheets for the fiscal year ended March 31, 2016 was
professional cultivated throughout his career, offering advice ¥161 million, which represents 0.03% of the total assets
and recommendations in accordance with that role. of the Makita Group. Since there are no other personal
There are no personal relationships, capital relationships, relationships or interests between the Corporation and LIXIL
or other interests between the Corporation and Mr. Group Corporation, the Corporation deems Mr. Sugino
Morita. Although the Makita Group purchases parts from independent from the Corporation and the Corporation’s
Aichi Steel Corporation, where Mr. Morita was previously management in charge of business execution. Mr. Sugino
employed, the transaction amount in the fiscal year ended was elected as outside director at the General Meeting of
March 31, 2016 was ¥645 million, representing 0.2% of Shareholders held on June 25, 2015, and has held office for
the consolidated net sales of the Corporation. There are no a year.
personal relationships, capital relationships, or other interests Outside Audit & Supervisory Board member Mr. Fusahiro
between the Corporation and the Aichi Steel Group, and Yamamoto is knowledgeable about corporate accounting in
the Corporation deems Mr. Morita independent from the his capacity as a certified public accountant. He engages in
Corporation and the Corporation’s management in charge appropriate management oversight and provides opinions
of business execution. Mr. Morita was elected as outside from a professional point of view at meetings of the Board
director at the General Meeting of Shareholders held on of Directors and the Audit & Supervisory Board that he
June 25, 2013, and has held office for three years. attends. Mr. Yamamoto was elected Audit & Supervisory
Outside Director Mr. Masahiro Sugino formerly served Board member at the General Meeting of Shareholders held

9
 on June 25, 2013 and has held office for three years. & Supervisory Board members of the Corporation have their
Outside Audit & Supervisory Board members Messrs. own specialist expertise. Their role is to audit the execution of
Akira Kodama and Shoji Inoue were elected as Audit & business by directors, from an impartial, external perspective
Supervisory Board members at the General Meeting of with no possibility of conflict of interest with ordinary
Shareholders held on June 28, 2016. Mr. Kodama has many shareholders. To properly fulfill their roles, outside directors and
years of experience at financial institutions and professional outside Audit & Supervisory Board members receive reports on
knowledge in finance. Mr. Inoue has professional knowledge business performance, internal control systems, and the like at
and abundant experience as an attorney. Board of Directors meetings, where they cooperate with each
Outside Audit & Supervisory Board members Messrs. other and exchange opinions as necessary. When appointing
Akira Kodama and Fusahiro Yamamoto hold no stock in the outside directors and outside Audit & Supervisory Board
Corporation and have no personal relationships, business members, we refer to criteria on the independence of outside
relationships, capital relationships, or other interests with the directors determined by financial instruments exchanges.
Corporation. Outside Audit & Supervisory Board member Accordingly, we believe our system for appointing outside
Mr. Shoji Inoue holds stock in the Corporation. He has no directors and outside Audit & Supervisory Board members is
other personal relationships, business relationships, capital appropriate.
relationships, or other interests with the Corporation.
The Corporation deems there is no risk of conflict of Policy on the Determination of Remuneration for
interest with ordinary shareholders and has designated Directors
outside Directors Akiyoshi Morita and Masahiro Sugino as Monthly salaries for directors is paid according to position
independent directors and outside Audit & Supervisory Board and the like within limits for total monthly compensation
members Akira Kodama, Fusahiro Yamamoto, and Shoji prescribed by resolution of the General Meeting of
Inoue as independent Audit & Supervisory Board members in Shareholders.
accordance with the regulations of the financial instruments Director bonuses, which directors (excluding outside
exchanges. The Corporation has entered into agreements directors) are eligible for, are linked to consolidated business
with the abovementioned two outside directors and three results with the aim of raising motivation to improve
outside Audit & Supervisory Board members, with respect to business performance.
their liability for damages to the Corporation as prescribed Seeking to increase morale and motivation to help
in Article 423, Paragraph 1, of the Companies Act, to limit improve corporate value over the medium and long terms, the
the total amount of liabilities to the sum of the amounts Corporation issues stock compensation-type stock options to
prescribed in the items of Article 425, Paragraph 1, thereof. directors (excluding outside directors) so that they share the
The role of the Corporation’s outside directors is to risks and rewards of stock price fluctuations with shareholders.
strengthen the efficacy of oversight by the Board of Directors To ensure independence from management, the total
concerning the execution of duties by directors, from an amount of compensation for Audit & Supervisory Board
impartial, external perspective with no possibility of conflict of members is fixed, with the specific amount determined in
interest with ordinary shareholders. Moreover, outside Audit consultation with auditors.

10
Comments from an Outside Director
Utilizing my experience as president at management assumes top priority among Makita’s business operations, and I can
and Board of Directors’ meetings envisage proliferation of good governance and implementation of
During my time as president of INAX Corporation and LIXIL business policy initiatives.
Corporation, I instigated management meetings, attended by
chairmen, presidents, and vice presidents of those companies, Importance of not allowing global corporate strengths
who also served as representative directors. At these meetings, to become corporate risks
we discussed large-scale investment proposals and made decisions Makita’s strength lies in its robust financial position. Backed by ample
on key personnel and other important business policy matters. At capital, the Corporation has established overseas sales bases and
Board of Directors’ meetings, attendees received reports from the invested actively to attract customers. As a consequence, we are
president on the items discussed at management meetings, as well moving steadily toward an overseas sales ratio of more than 80%
as explanations of important business policy decisions. In these ways, and are further reinforcing our already-robust financial position.
we strove to ensure appropriate fulfillment of Board of Directors’ As domestic demand levels off, we are targeting the huge
responsibilities—overall management supervision and oversight, as and growing global housing market as a key source of demand.
well as business policy—while maintaining transparency and effective As a specialist manufacturer of power tools, we are concentrating
governance. business resources on our core product segments and strengthening
At Makita’s Board of Directors’ meetings, as well, I will execute our competitiveness through a policy emphasizing reliable product
business as an outside director and act with an emphasis on voicing quality and safety. This gives us the greatest opportunity to maintain
opinions and questions, recognizing the importance of ensuring future growth and expand market share. And through active
overall management transparency with respect to items discussed interaction with our overseas sales and manufacturing operations,
and other matters. we will continue fostering global human resources and thus further
underpin our strengths as a global corporation.
Favorable impression of Makita’s stance prioritizing At the same time, we must recognize the possibility that
harmonious coexistence with society and customer business risks may emanate from overseas bases and subsidiaries
satisfaction that are physically separated from the parent company. To ensure
At Makita, our top priority is to ensure sincere management that that Makita’s current strengths do not become corporate risks in the
earns the trust of all shareholders, as well as customers in Japan and future, we need to maintain and control our overseas compliance
from around the world and local communities, including those of our frameworks and establish a unified domestic and overseas internal
business partners. control system. From Makita’s perspective, this is an important
The first Management Policy of Makita’s Corporate Philosophy, management priority that is
“Strive to exist in harmony with society,” entails observing laws, essential to tapping overseas
resisting the intervention of antisocial forces, and acting ethically. By demand and ensuring
implementing this policy, Makita is working to spread its commitment continuous growth—and I
to compliance throughout the Corporation—a stance that I applaud. expect it will serve as a renewed
The second Management Policy under the Corporate Philosophy strength in the future.
calls for us to be “a market- and customer-driven company.” This
forms the basis for growth in corporate revenue and the consistent
realization of appropriate earnings.
Based on the contents of reports made by various departments Masahiro Sugino
at Board of Directors’ meetings, I perceive that customer satisfaction Outside Director

11
 Directors, Audit & Supervisory Board Members
and Corporate Officers (as of June 28, 2016)
Directors and Audit & Supervisory Board Members

Directors Audit & Supervisory Board Members

* Chairman Standing Audit & Supervisory Board Members
Masahiko Goto Mitsuhiko Wakayama
Akira Kodama
* President
Shiro Hori Audit & Supervisory Board Members
Fusahiro Yamamoto
Director, Managing Corporate Officer
(Certified Public Accountant)
Tadayoshi Torii Shoji Inoue
(Attorney at Law)
Directors, Corporate Officers Messrs. Akira Kodama, Fusahiro Yamamoto, and Shoji Inoue
Tomoyasu Kato are Outside Audit & Supervisory Board Members.
General Manager of Research and Development Headquarters

Hisayoshi Niwa
Corporate Officers
General Manager of Quality Headquarters

Shinichiro Tomita Takashi Omote

General Manager of Purchasing Headquarters In charge of Central and South America Sales and
President of Makita do Brasil Ferramentas Elétricas Ltda.
Tetsuhisa Kaneko
General Manager of Production Headquarters Yasushi Fukaya
In charge of Europe Sales
Yoji Aoki
General Manager of Administration Headquarters Tomoharu Yasuda
Assistant General Manager of Domestic Sales Headquarters:
Tomoyuki Ota Tokyo Area
Assistant General Manager of Research and Development Headquarters
Shinichi Sakamoto
Munetoshi Goto In charge of Asia Sales and Managing Director of Makita China Sales
General Manager of International Sales Headquarters
Atsunobu Iwakura
Takashi Tsuchiya Assistant General Manager of Domestic Sales Headquarters:
General Manager of Domestic Sales Headquarters Osaka Area
Masaki Yoshida Hideki Shimazoe
Assistant General Manager of Production Headquarters Assistant General Manager of Domestic Sales Headquarters:
(in charge of China Plant) Nagoya Area and Direct Business Department

Outside Director
Akiyoshi Morita
Advisor of Aichi Steel Corporation
Outside Director of Showa Denko K.K.
Masahiro Sugino
Advisor of LIXIL Corporation
*Denotes Representative Director.

12
Reinforcing Our Global Sales
and After-sales Service Systems
To bring satisfaction to professional users around the world, plunged into severe recession due to the global financial
we have continued striving to reinforce our global sales and crisis. Nevertheless, Makita maintained its unwavering
after-sales service systems. customer-first sales policy and sought to build relationships
of trust by reinforcing its after-sales services. We will use
In October 2015, Makita opened its Bolivia Branch in the starting of the new operation as an opportunity to
Santa Cruz, Bolivia. In Latin America, we are expanding strengthen our sales and after-sales service systems in Latvia,
and upgrading our sales network, having started sales where steady future growth is expected.
operations in seven countries, including Brazil and Mexico.
The Bolivia Branch, which serves as a branch of Makita
Peru S.A. (established in 2007), is our first sales base in that
nation, and Bolivia is the eighth Latin American country
in which Makita has a presence. It is politically stable and
boasts steady economic growth, ranking in the top half
of Latin American countries. Moreover, Santa Cruz is
located in an industrial heartland where numerous foreign In March 2016, Makita opened its sixth sales base in
companies have business operations. With shopping malls Russia, a branch in the city of Krasnodar. Located on the east
and other large commercial facilities, the city has developed coast of the Black Sea 1,500 kilometers south of Moscow,
significantly. Makita aims to step up sales activities and Krasnodar enjoys a temperate climate and has prospered
upgrade its after-sales service system in Bolivia, which is as a key trading hub in Russia’s south since ancient times.
earmarked for future growth. In the vicinity are well-known resort cities, such as Sochi,
which hosted the 2014 Winter Olympics; Anapa, renowned
for wine; and Astrakhan, famous for caviar. In Russia, with
its huge landmass, we will reinforce our distribution and
after-sales service systems in a regionally focused manner to
further improve our customer services.

In January 2016, Makita opened a service center in

Riga, the capital of Latvia, its first sales base there. Latvia is
a nation with a population of around two million. Located
between Western Europe and Russia, it plays an important
role as the gateway to Russian business. In 2009, Latvia

13
 New Products in Fiscal 2016

Robotic Cleaner (DRC200)

The DRC200 is a robotic cleaner developed jointly with business premises in office buildings, as well as lobbies,
Sharp Corporation that runs on our 18V lithium-ion battery shops, and warehouses.
and automatically collects dust and debris. With a single charge, it can clean a maximum surface
The DRC200 is a commercial-use robotic cleaner that area of around 500m2 (at 5.0Ah), equivalent to 2.5 tennis
combines automated drive and sensing technologies courts, and collect 2.5 liters of dust and debris. It is as
amassed by Sharp Corporation and battery systems for simple to operate as a regular home-use cleaner yet delivers
power tools advanced by Makita. It is suitable for cleaning superior performance.

14
Cordless Backpack
Vacuum Cleaner (DVC260)

This cordless backpack-style cleaner is suitable for long,

continuous cleaning operations, offering high cleaning
efficiency and dust-collection capacity compared with
handy-type cleaners.
The DVC260 uses two 18-volt lithium-ion batteries to
provide longer runtime and greater suction power than
handy-type cleaners. With the mobility of "cordless" and
backpack configuration, it also provides a stable, lightweight
feel, so female workers can use with ease.

Expanding and Upgrading Our Lineup of

Cordless Tools Powered by 18V Lithium-ion Batteries

Key future initiatives include creating products based on the

development theme of expanding and upgrading our lineup
of cordless tools running on 18V lithium-ion batteries.
While we will continue emphasizing development of
power tools, the flagships of the lineup, we will also strive
to expand and upgrade our lineup to provide user-friendly,
comfortable, supportive work environments for people who
use our products.
Examples of innovative products launched include a fan
jacket that keeps people cool in summer, a heated vest that
is warm but easy to move in even in winter, and a coffee
maker that can be used in the workplace. Our products,
which reflect the opinions of frontline workers, have been
globally acclaimed.
We will continue deploying the superior qualities of our
battery systems to develop products that deliver new levels
of value to the market.

15
 10-Year Summary
Yen in millions
2007 2008 2009 2010
For the years ended March 31
Net Sales ¥ 279,933 ¥ 342,577 ¥ 294,034 ¥ 245,823
Domestic 46,860 52,193 46,222 42,697
Overseas 233,073 290,384 247,812 203,126
Operating Income 48,176 67,031 50,075 30,390
Income Before Income Taxes 49,724 66,237 44,443 33,518
Net Income Attributable to Makita Corporation 36,971 46,043 33,286 22,258

Net Cash Provided by Operating Activities 32,360 29,275 22,178 57,126

Net Cash Provided by (Used in) Investing Activities (27,276) (4,508) 232 (17,668)
Free Cash Flows 5,084 24,767 22,410 39,458
Net Cash Used in Financing Activities (8,307) (13,815) (33,179) (9,114)

Capital Expenditures 12,980 15,036 17,046 10,837

Depreciation and Amortization 8,773 8,871 8,887 8,308
R&D Costs 5,460 5,922 6,883 6,782

As of March 31
Total Assets ¥ 368,494 ¥ 386,467 ¥ 336,644 ¥ 349,839
Net Working Capital 212,183 230,699 199,586 211,336
Total Makita Corporation Shareholders’ Equity 302,675 316,498 283,485 297,207
Interest-Bearing Debt 1,945 2,632 1,057 929

Per Share Amounts： Yen

Earnings per Share of Common Stock and per ADS: Basic ¥ 257.3 ¥ 320.3 ¥ 236.9 ¥ 161.6
Total Shareholders’ Equity 2,106.3 2,201.3 2,057.8 2,157.4
Cash Dividends Applicable to the Year 74.0 97.0 80.0 52.0

Other data：
Ratio of Operating Income to Net Sales 17.2% 19.6% 17.0% 12.4%
Return on Equity (ROE) 13.0% 14.9% 11.1% 7.7%
Return on Assets (ROA) 10.6% 12.2% 9.2% 6.5%
Shareholders’ Equity Ratio 82.1% 81.9% 84.2% 85.0%
Average Number of Shares Outstanding 143,706,789 143,749,824 140,518,582 137,762,051
Number of Outstanding Shares Excluding Treasury Stock 143,701,279 143,773,625 137,764,005 137,760,402
Employees 9,062 10,436 10,412 10,328

1. The U.S. dollar amounts above and elsewhere in this report represent translations, for the convenience of the reader, at the rate of ¥112 to US$1.
2. Consolidated financial statements are prepared in accordance with United States Generally Accepted Accounting Principles.
3. Net income attributable to Makita Corporation per share is computed based on the average number of common stock outstanding during the term.
4. Amounts of less than ¥1 million have been rounded.

Net Income Attributable to Total Makita Corporation

Net Sales (¥ millions) Operating Income (¥ millions) Makita Corporation (¥ millions) Shareholders’ Equity (¥ millions)

414,718 423,623 71,905 45,307 486,021 479,752

383,207 64,676 41,615 435,934
38,453
309,630 54,914 32,497 373,543
295,711 48,516 31,076 321,253
45,366

’12 ’13 ’14 ’15 ’16 ’12 ’13 ’14 ’15 ’16 ’12 ’13 ’14 ’15 ’16 ’12 ’13 ’14 ’15 ’16

16
 U.S. Dollars
Yen in millions in thousands
2011 2012 2013 2014 2015 2016 2016

¥ 272,630 ¥ 295,711 ¥ 309,630 ¥ 383,207 ¥ 414,718 ¥ 423,623 $ 3,782,348

46,065 53,175 56,555 66,019 67,740 68,445 611,116
226,565 242,536 253,075 317,188 346,978 355,178 3,171,232
41,909 48,516 45,366 54,914 71,905 64,676 577,464
42,730 46,963 45,691 56,974 68,394 61,492 549,036
29,905 32,497 31,076 38,453 45,307 41,615 371,563

19,617 8,622 38,364 41,686 35,894 34,188 305,250

(19,334) (4,500) (15,414) (20,084) (20,096) (6,573) (58,688)
283 4,122 22,950 21,602 15,798 27,615 246,563
(7,355) (12,707) (10,650) (7,365) (12,017) (18,719) (167,134)

9,742 13,481 11,481 11,417 12,124 11,769 105,080

7,557 7,237 7,542 8,622 8,619 9,284 82,893
7,283 7,603 8,396 8,720 9,117 9,593 85,652

¥ 372,507 ¥ 383,256 ¥ 440,974 ¥ 519,121 ¥ 575,328 ¥ 558,024 $ 4,982,357

219,270 223,045 266,950 310,750 358,245 362,675 3,238,170
307,149 321,253 373,543 435,934 486,021 479,752 4,283,500
887 2,363 1,703 4,163 5,030 2,225 19,866

Yen U.S. Dollars

¥ 217.1 ¥ 236.8 ¥ 228.9 ¥ 283.3 ¥ 333.8 ¥ 306.6 $ 2.74
2,229.6 2,366.5 2,751.8 3,211.6 3,580.7 3,534.5 31.56
66.0 72.0 69.0 91.0 118.0 101.0 0.90

15.4% 16.4% 14.7% 14.3% 17.3% 15.3%

9.9% 10.3% 8.9% 9.5% 9.8% 8.6%
8.3% 8.6% 7.5% 8.0% 8.3% 7.3%
82.5% 83.8% 84.7% 84.0% 84.5% 86.0%
137,759,272 137,244,683 135,748,088 135,740,827 135,736,215 135,734,118
137,757,699 135,750,518 135,745,927 135,737,626 135,734,868 135,733,261
12,054 12,563 12,680 12,804 13,835 14,784

Free Cash Flows (¥ millions) Capital Expenditures R&D Costs (¥ millions)

41,686 13,481
38,364 35,894 12,124 11,769
34,188 11,481 11,417
27,615 9,117 9,593
21,602 8,396 8,720
7,603
22,950
8,622
15,798
4,122

(4,500) (6,573) Cash flows from operating activities

(15,414) Cash flows from investing activities ’12 ’13 ’14 ’15 ’16
(20,084) (20,096)
Free cash flows Capital expenditures R&D costs
’12 ’13 ’14 ’15 ’16 (Combined total of cash flows from operating and investing activities)

17
 Consolidated Balance Sheets
MAKITA CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
AS OF MARCH 31, 2015 AND 2016

Yen in millions U.S. Dollars in thousands

2015 2016 2016
ASSETS

CURRENT ASSETS:
Cash and cash equivalents ¥ 94,529 ¥ 99,915 $ 892,098
Time deposits 15,283 15,545 138,795
Short-term investments 56,076 48,263 430,920
Trade receivables—Notes 1,315 1,079 9,634
Trade receivables—Accounts 64,642 64,309 574,188
Less-Allowance for doubtful receivables (998) (1,173) (10,473)
Inventories 175,186 178,791 1,596,348
Deferred income taxes 6,296 5,454 48,696
Prepaid expenses and other current assets 16,782 15,390 137,411
Total current assets 429,111 427,573 3,817,616

PROPERTY, PLANT AND EQUIPMENT, AT COST:

Land 23,104 22,436 200,321
Building and improvements 96,202 94,704 845,571
Machinery and equipment 91,353 91,365 815,759
Construction in progress 3,237 2,662 23,768
Subtotal 213,896 211,167 1,885,420
Less-Accumulated depreciation and amortization (118,084) (118,344) (1,056,643)
Total net property, plant and equipment 95,812 92,823 828,777

INVESTMENTS AND OTHER ASSETS:

Investments 31,395 21,872 195,286
Goodwill 721 721 6,438
Other intangible assets, net 4,563 4,107 36,670
Deferred income taxes 629 610 5,446
Other assets 13,097 10,318 92,125
Total investments and other assets 50,405 37,628 335,964
Total assets ¥ 575,328 ¥ 558,024 $ 4,982,357

18
 Yen in millions U.S. Dollars in thousands
2015 2016 2016
LIABILITIES

CURRENT LIABILITIES:
Short-term borrowings ¥ 4,647 ¥ 2,195 $ 19,598
Trade notes and accounts payable 25,124 20,620 184,107
Other payables 6,140 6,521 58,223
Accrued expenses 10,594 9,350 83,482
Accrued payroll 9,568 9,143 81,634
Income taxes payable 5,353 4,440 39,643
Deferred income taxes 1,529 3,084 27,536
Other liabilities 7,911 9,545 85,223
Total current liabilities 70,866 64,898 579,446

LONG-TERM LIABILITIES:
Long-term indebtedness 383 30 268
Accrued retirement and termination benefits 3,701 3,271 29,205
Deferred income taxes 9,521 4,974 44,411
Other liabilities 1,272 1,481 13,223
Total long-term liabilities 14,877 9,756 87,107
Total liabilities 85,743 74,654 666,554

EQUITY

MAKITA CORPORATION SHAREHOLDERS’ EQUITY:

Common stock, authorized - 496,000,000 shares
Issued and outstanding- 140,008,760 and 135,734,868 shares,
respectively in 2015
23,805 23,805 212,545
Issued and outstanding- 140,008,760 and 135,733,261 shares,
respectively in 2016
Additional paid-in capital 45,421 45,456 405,857
Legal reserve 5,669 5,669 50,616
Retained earnings 399,874 425,473 3,798,866
Accumulated other comprehensive income (loss) 22,842 (9,049) (80,795)
Treasury stock, at cost - 4,273,892 shares in 2015
- 4,275,499 shares in 2016 (11,590) (11,602) (103,589)
Total Makita Corporation shareholders’ equity 486,021 479,752 4,283,500
NON-CONTROLLING INTEREST 3,564 3,618 32,304
Total equity 489,585 483,370 4,315,804

Total liabilities and equity ¥ 575,328 ¥ 558,024 $ 4,982,357

19
 Consolidated Statements of Income
MAKITA CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
FOR THE YEARS ENDED MARCH 31, 2014, 2015 AND 2016

Yen in millions U.S. Dollars in thousands

2014 2015 2016 2016
NET SALES ¥ 383,207 ¥ 414,718 ¥ 423,623 $ 3,782,348
Cost of sales 244,053 257,582 270,121 2,411,795
GROSS PROFIT 139,154 157,136 153,502 1,370,554
Selling, general, administrative and others, net 84,240 85,231 88,826 793,089
OPERATING INCOME 54,914 71,905 64,676 577,464
OTHER INCOME (EXPENSE):
Interest and dividend income 2,326 2,639 2,468 22,036
Interest expense (202) (113) (115) (1,027)
Exchange losses on foreign currency transactions,
(1,700) (6,480) (1,552) (13,857)
net
Realized gains (losses) on securities, net 1,636 443 1,418 12,661
Valuation losses on securities (5,403) (48,241)
Total other income (expense), net 2,060 (3,511) (3,184) (28,429)
INCOME BEFORE INCOME TAXES 56,974 68,394 61,492 549,036
Provision for income taxes : Current 18,749 18,889 18,707 167,027
: Deferred (518) 3,824 812 7,250
Total income tax expense 18,231 22,713 19,519 174,277
NET INCOME 38,743 45,681 41,973 374,759
Less-Net income attributable to the non-controlling
290 374 358 3,196
interest
NET INCOME ATTRIBUTABLE TO MAKITA
¥ 38,453 ¥ 45,307 ¥ 41,615 $ 371,563
CORPORATION

PER SHARE OF COMMON STOCK AND ADS: Yen U.S. Dollars

Earnings per share: Basic ¥ 283.3 ¥ 333.8 ¥ 306.6 $ 2.738
Cash dividends per share paid for the year ¥ 72.0 ¥ 91.0 ¥ 118.0 $ 1.05

Consolidated Statements of Comprehensive Income

MAKITA CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
FOR THE YEARS ENDED MARCH 31, 2014, 2015 AND 2016

Yen in millions U.S. Dollars in thousands

2014 2015 2016 2016
NET INCOME ¥ 38,743 ¥ 45,681 ¥ 41,973 $ 374,759
OTHER COMPREHENSIVE INCOME (LOSS):
Foreign currency translation adjustment 30,204 14,660 (26,304) (234,857)
Unrealized holding gains on available-for-
2,687 1,267 (3,036) (27,107)
sale securities
Pension liability adjustment 1,322 1,047 (2,678) (23,911)
Total other comprehensive income (loss) 34,213 16,974 (32,018) (285,875)
COMPREHENSIVE INCOME 72,956 62,655 9,955 88,884
Less-Comprehensive income attributable to the non-
746 199 231 2,063
controlling interest
COMPREHENSIVE INCOME ATTRIBUTABLE TO
¥ 72,210 ¥ 62,456 ¥ 9,724 $ 86,821
MAKITA CORPORATION

20
Consolidated Statements of Changes in Equity
MAKITA CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
FOR THE YEARS ENDED MARCH 31, 2014, 2015 AND 2016

Accumulated other Non-

Additional paid- Retained comprehensive controlling
Common stock in capital Legal reserve earnings income (loss) Treasury stock interest Total

Yen in millions
Balance as of April 1, 2013 23,805 45,421 5,669 338,239 (28,064) (11,527) 2,789 376,332
Purchases and disposal of treasury stock (46) (46)
Cash dividends (9,773) (25) (9,798)
Comprehensive income:
Net income 38,453 290 38,743
Other comprehensive income 33,757 456 34,213
Balance as of March 31, 2014 ¥ 23,805 ¥ 45,421 ¥ 5,669 ¥ 366,919 ¥ 5,693 ¥ (11,573) ¥ 3,510 ¥ 439,444

Balance as of April 1, 2014 ¥ 23,805 ¥ 45,421 ¥ 5,669 ¥ 366,919 ¥ 5,693 ¥ (11,573) ¥ 3,510 ¥ 439,444
Purchases and disposal of treasury stock (17) (17)
Cash dividends (12,352) (145) (12,497)
Comprehensive income :
Net income 45,307 374 45,681
Other comprehensive income 17,149 (175) 16,974
Balance as of March 31, 2015 ¥ 23,805 ¥ 45,421 ¥ 5,669 ¥ 399,874 ¥ 22,842 ¥ (11,590) ¥ 3,564 ¥ 489,585

Balance as of April 1, 2015 ¥ 23,805 ¥ 45,421 ¥ 5,669 ¥ 399,874 ¥ 22,842 ¥ (11,590) ¥ 3,564 ¥ 489,585
Purchases and disposal of treasury stock (12) (12)
Cash dividends (16,016) (177) (16,193)
Comprehensive income:
Net income 41,615 358 41,973
Other comprehensive income (31,891) (127) (32,018)
Other income (loss) 35 35
Balance as of March 31, 2016 ¥ 23,805 ¥ 45,456 ¥ 5,669 ¥ 425,473 ¥ (9,049) ¥ (11,602) ¥ 3,618 ¥ 483,370

Balance as of March 31, 2016 – US$ in thousands $ 212,545 $ 405,857 $ 50,616 $ 3,798,866 $ (80,795) $ (103,589) $ 32,304 $ 4,315,804

21
 Consolidated Statements of Cash Flows
MAKITA CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED MARCH 31, 2014, 2015 AND 2016

Yen in millions U.S. Dollars in thousands

2014 2015 2016 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income ¥ 38,743 ¥ 45,681 ¥ 41,973 $ 374,759
Adjustments to reconcile net income to net cash provided by operating
activities-
Depreciation and amortization 8,622 8,619 9,284 82,893
Deferred income tax expense (benefit) (518) 3,824 812 7,250
Realized (gains) losses on securities, net (1,636) (443) (1,418) (12,661)
Valuation losses on securities - - 5,403 48,241
Losses (gains) on disposal or sales of property, plant and equipment, net (297) (304) (39) (348)
Bad debt expense 176 122 374 3,339
Inventory write-downs 1,632 2,366 1,849 16,509
Impairment of goodwill and long-lived assets 1,239 310 - -
Changes in assets and liabilities-
Trade receivables (6,268) (1,270) (3,526) (31,482)
Inventories (1,480) (20,785) (17,437) (155,688)
Trade notes and accounts payable and accrued expenses 1,441 1,903 (2,821) (25,188)
Income taxes payable 907 (4,828) 177 1,580
Accrued retirement and termination benefits (1,323) (352) (1,253) (11,188)
Other, net 448 1,051 810 7,232
Net cash provided by operating activities 41,686 35,894 34,188 305,250

CASH FLOWS FROM INVESTING ACTIVITIES:

Capital expenditures, including interest capitalized (11,417) (12,124) (11,769) (105,080)
Purchases of available-for-sale securities (19,650) (15,682) (9,997) (89,259)
Proceeds from sales of available-for-sale securities 7,730 919 15,268 136,321
Proceeds from maturities of available-for-sale securities 200 100 500 4,464
Proceeds from maturities of held-to-maturity securities 3,800 3,000 500 4,464
Proceeds from sales of property, plant and equipment 1,259 1,536 1,421 12,688
Investment in time deposits (16,549) (19,885) (36,169) (322,938)
Withdrawal of time deposits 15,123 22,434 34,251 305,813
Other, net (580) (394) (578) (5,161)
Net cash used in investing activities (20,084) (20,096) (6,573) (58,688)

CASH FLOWS FROM FINANCING ACTIVITIES:

Additions to (payments on) borrowings with original maturities of three - 1,042 867 7,741
months or less, net
Additions to borrowings with original maturities of more than three
months 4,002 3,419 - -
Payments on borrowings with original maturities of more than three
(1,611) (4,443) (3,556) (31,750)
months
Additions to long-term indebtedness - 446 - -
Purchase of treasury stock, net (46) (17) (12) (107)
Cash dividends paid (9,773) (12,352) (16,016) (143,000)
Other, net 63 (112) (2) (18)
Net cash used in financing activities (7,365) (12,017) (18,719) (167,134)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH
5,212 9,016 (3,510) (31,339)
EQUIVALENTS
NET CHANGE IN CASH AND CASH EQUIVALENTS 19,449 12,797 5,386 48,089
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 62,283 81,732 94,529 844,009
CASH AND CASH EQUIVALENTS, END OF YEAR ¥ 81,732 ¥ 94,529 ¥ 99,915 $ 892,098

SUPPLEMENT DISCLOSURE OF CASH FLOW INFORMATION:

Cash paid during the year for interest, net of amount capitalized ¥ 195 ¥ 152 ¥ 116 $ 1,036
Cash paid during the year for income taxes 17,841 23,717 18,530 165,446

22
Corporate Directory
ASIA Changsha sales branch
1F, Ruixinjidi Research and
MALAYSIA Quebec and Atlantic regional office
6389 Boul. Couture, St. Léonard,
Makita Power Tools (Malaysia) Sdn.
Development office building, Bhd. Quebec H1P 3J5
JAPAN NO.166, Guyuan Road, Gaoxin District, Lot 824, Jalan Subang 5, Subang Industrial Phone: +1-514-323-1223
Makita Corporation Changsha, Hunan. Postcode: 410205 Area, 47500 Subang Jaya, Selangor, Fax: +1-514-323-7708
Head office Phone: +86-(0)731-8526-7792 Malaysia
3-11-8, Sumiyoshi-cho, Fax: +86-(0)731-8526-7791 Phone: +60-(0)3-8023-0824 Factory service centers
Anjo, Aichi 446-8502 Fax: +60-(0)3-8022-1448 Burnaby (Vancouver), Calgary,
Phone: +81-(0)566-98-1711 Shijiazhuang sales branch Dartmouth (Halifax), Edmonton,
Fax: +81-(0)566-98-6021 Room 104, Building 2, AnYuan Area C, Service center Les Saules (Quebec City), London,
NO.111 Tangu South Street, Shijiazhuang, Johor Bahru Mississauga (Toronto), Nepean (Ottawa),
Okazaki plant Hebei, Postcode: 050026 Richmond (Vancouver), Saskatoon,
22-1, Watarijima, Nemunoki-cho, Phone: +86-(0)311-8986-4089 St. Laurent (Montreal),
Okazaki, Aichi 444-0232 Fax: +86-(0)311-8925-0381
CAMBODIA St. Leonard (Montreal), Whitby, Winnipeg
Phone: +81-(0)564-43-3111 Makita Singapore Pte. Ltd.
Cambodia branch
Makita (Kunshan) Co., Ltd.
No. 432, St. 271, Sangkat Tumnup Teuk, MEXICO
CHINA Nanzi Road, Kunshan Comprehensive Free
Khan Chamkarmon, Phnom Penh Makita México, S.A. de C.V.
Makita (China) Co., Ltd. Trade Zone, Jiangsu, Postcode: 215301 Head office
Phone: +86-(0)512-57367367 Phone: +855-(0)23-994-071/2
Head office & plant Fax: +855-(0)23-994-073 Camino Viejo A San Lorenzo Tepaltitlan
No. 288 South Huangpujiang Road, Fax: +86-(0)512-57365575 (Jose Marti) No.227
Kunshan Development Zone, Jiangsu, Col. Tlacopa, Toluca, Estado De Mexico,
Postcode: 215335 Makita Power Tools (HK) Ltd. C.P. 50010
Phone: +86-(0)512-57707710 3F, Grandtech Centre, 8 On Ping Street, AMERICAS Phone: +52-722-237-3293
Fax: +86-(0)512-57713623 Shatin, N.T., Hong Kong Fax: +52-722-237-3293
Phone: +852-2648-8683
Fax: +852-2648-5237
UNITED STATES
Domestic sales department Makita U.S.A. Inc. Factory service centers
318 South Wusongjiang Road, Kunshan, Corporate office Mexico City, Guadalajara, Monterrey,
Jiangsu, Postcode: 215300 Service center Queretaro
Macau 14930 Northam Street, La Mirada,
Phone: +86-(0)512-5703-7500 CA 90638-5753, USA
Fax: +86-(0)512-5703-7118
Makita (Taiwan) Ltd. Phone: +1-714-522-8088 PANAMA
No.798, Sec.2, Wenhua 3rd Rd., Linkou Fax: +1-714-522-8133 Makita Latin America Inc.
Guangzhou sales branch Panama branch
No.24 Building, No.26, Renhouzhi Dist., New Taipei City 24459, Taiwan
Western regional (Los Angeles) office Local Comercial No.4, Albrook Office
Street, Dachongkou, Fangcun Avenue, Phone: +886-(0)2-8601-9898
14930 Northam Street, La Mirada, Center, calle Diego Dominguez, Albrook,
Liwan District, Guangzhou, Guangdong, Fax: +886-(0)2-8601-2266
CA 90638-5753 Panama City, Panama
Postcode: 510370 Phone: +1-714-522-8088 Phone: 507-315-0305
Phone: +86-(0)20-87518872 SINGAPORE Fax: +1-714-522-2437 Fax: 507-315-0651
Fax: +86-(0)20-87518873 Makita Singapore Pte. Ltd.
7, Changi South Street 3, Singapore Central regional (Chicago) office
Shanghai sales branch 486348
BRAZIL
1450 Feehanville Drive, Mount Prospect, Makita do Brasil Ferramentas
1F, Building 33, No.888 Shuangbai Road, Phone: +65-6546-8700 IL 60056-6011
Minhang District, Shanghai, Fax: +65-6546-8711 Elétricas Ltda.
Phone: +1-847-297-3100 Head office & plant
Postcode: 201108 Fax: +1-847-297-1544 Rodovia BR 376, Km 506,1 Bairro Industrial,
Phone: +86-(0)21-54487198 INDIA Ponta Grossa, PR CEP 84043-450
Fax: +86-(0)21-62476732 Makita Power Tools India Private Eastern regional (Atlanta) office Phone: +55-(0)42-3302-2100
Ltd. 2660 Buford Highway, Buford, Fax: +55-(0)42-3302-2120
Beijing sales branch Unit II, Sy. No.93/3, 93/4, GA 30518-6045
No.6 A Heyi Xili North Street, Koralur Village, Kasaba Hobli, Phone: +1-770-476-8911
Fengtai District, Beijing, Postcode: 100076 São Paulo sales office
Hoskote Taluk, Bangalore 560067 Fax: 866-521-3541 Free dial USA only Rua Makita Brasil, 200 Bairro dos
Phone: +86-(0)10-67983346 Phone: +91-(0)80-2205-8200
Fax: +86-(0)10-87898365 Alvarengas-São Bernardo do Campo-SP
Fax: +91-(0)80-2854-9007 Factory service centers CEP 09852-080
Atlanta, Boston, Chicago, Dallas, Denver, Phone: +55-(0)11-4392-2411/2199-2500
Chengdu sales branch Florida, Houston, Las Vegas, Los Angeles,
1F, Building 3, No.9, Wukedong San Road,
VIETNAM Fax: +55-(0)11-4392-2471
Makita Vietnam Co., Ltd. New Jersey, Portland, San Francisco
Wuhou District, Chengdu, Sichuan
Postcode: 610045 Head office Salvador sales branch
Unit 06, Block 16 18 L1-2, Street 3, VSIP II Makita Corporation of America Rua Andre Luiz R da Fonte, 491 Bairro
Phone: +86-(0)28-85366002 2650 Buford Highway, Buford,
Fax: +86-(0)28-87337018 Industrial Park, Hoa Phu Ward, Thu Dau Pitangueiras, Lauro de Freitas, BA
Mot City, Binh Duong Province, Vietnam GA 30518-6045 CEP 42700-000
Phone: +84-650-362-8338 Phone: +1-770-932-2901 Phone: +55-(0)71-3252-0154
Shenyang sales branch Fax: +1-770-932-2905
No.2, 10A, No.7 Street, Economic and Fax: +84-650-362-8339 Fax: +55-(0)71-3252-0070
Technological Development Zone, Makita Latin America Inc.
Shenyang, Liaoning, Postcode: 110141 North branch Curitiba sales branch
Unit 05, No. 1, Street 6, VSIP Bac Ninh 10205 NW 108th Avenue, Suite 20, Rua Comendador Roseira,
Phone: +86-(0)24-22530648 Medley, FL 33178-2507
Fax: +86-(0)24-22530170 Integrated Township and Industrial Park, 499 Bairro Prado Velho, Curitiba,
Phu Chan Commune, Tu Son Town, Bac Phone: +1-305-882-0522 PR CEP 80215-210
Ninh Province Fax: +1-305-882-0484 Phone: +55-(0)41-3333-8070
Xian sales branch
1 & 2F, Xian Youzhi Science and Technology Phone: +84-241-376-5942 Fax: +55-(0)41-3332-0734
Fax: +84-241-376-5941 CANADA
Industrial Park NO.75 Mingguang Road,
Makita Canada Inc. Belém sales branch
Economic And Technological Development
Service centers Head office Rodovia BR 316, Km 04 Loja 04-Bairro
Zone, Xian, Shanxi, Postcode: 710018
Da Nang, Can Tho 1950 Forbes Street, Whitby, Águas Lindas, Ananindeua / PA
Phone: +86-(0)29-86223736
ON L1N 7B7 CEP 67020-000
Fax: +86-(0)29-86229230
THAILAND Phone: +1-905-571-2200 Phone: +55-(0)91-3237-7186
Makita Manufacturing (Thailand) Fax: +1-905-433-4779
Co., Ltd. Service centers
219/1 Moo 6, Tambon Bowin, Amphur Western regional office São Paulo, Rio de Janeiro, Recife,
Sriracha, Chonburi, 20230 11771 Hammersmith Way, Richmond, Belo Horizonte, Rio Grande do Sul
Phone: +66-(0)3300-4750 BC V7A 5H6
Fax: +66-(0)3300-4747 Phone: +1-604-272-3104
Fax: +1-604-272-5416

23
 ARGENTINA Nantes office SWEDEN CZECH REPUBLIC
Makita Herramientas Eléctricas de Le Pan Loup, 44220 Couéron Makita Sweden Makita, spol. s r.o.
Argentina S.A. Phone: +33-(0)2-5177-8977 Bergkällavägen 36 B192 79 Kaštanová 555/125d, 620 00 Brno
Lisandro de la Torre 1246, Parque Fax: +33-(0)2-4063-8376 Sollentuna, Sweden Phone: +420-543-216-944
Industrial Pilarica, Fatima, Pilar Provincia de Phone: +46-8-505-819-00 Fax: +420-543-216-946
Buenos Aires, CP1629 Bordeaux office Fax: +46-8-505-819-69
137, Rue de la Croix-de-Monjous,
Phone: +54 (230)444-1100
33170 Gradignan
SLOVAKIA
Fax: +54 (230)444-1105
Phone: +33-(0)5-5796-5270
THE NETHERLANDS Makita s.r.o
Fax: +33-(0)5-5796-5275 Makita Nederland B.V. Jegorovova 35
CHILE Park Forum 1101 5657HK Eindhoven 974 01 Banská Bystrica
Makita Chile Comercial Ltda. Nord office Phone: +31-(0)40-206-4040 Phone: +421-(0)48-4161-772
Head office Village d’Entreprises, 51, Rue Trémière, Fax: +31-(0)40-206-4096 Fax: +421-(0)48-4161-769
Av. Lo Boza 120-B Modulo 1, 59650 Villeneuve d’Ascq
Pudahuel, Santiago, CP 9030971 Phone: +33-(0)3-2059-7020 BELGIUM HUNGARY
Phone: +56-(0)2-2540-0400 Fax: +33-(0)3-2047-2220 S.A. Makita N.V. Makita Elektromos
Fax: +56(0)22-540-0436 Jan-Baptist Vinkstraat 2 3070 Kortenberg Kisgépértékesítö Kft.
Dijon office Phone: +32-(0)2-257-1840 8000, Székesfehérvár, Takarodó út 2
Factory service centers 5, Rue Edmond Voisenet, Fax: +32-(0)2-253-0101 Phone: +36-22-507-472
Santiago, Temuco 21000 Dijon Fax: +36-22-507-484
Phone: +33-(0)3-8054-0880 GERMANY
PERU Fax: +33-(0)3-8054-0881 Makita Werkzeug G.m.b.H ROMANIA
Makita Peru S.A. Head office Makita Romania S.R.L.
Av. Argentina 3119, Zona B, Lima, Peru Toulouse office Makita Platz 1, 40885 Ratingen Sos. Bucuresti–Urziceni nr.31 (EXPO
Phone: +51-(1)-562-0220 15, Rue de Boudeville, Z.I. de Thibaud, Phone: +49 (0)2102 1004-0 MARKET DORALY, Pavilion R) Com.
Fax: +51-(1)-561-0099 31104 Toulouse Fax: +49 (0) 2102 1004-128 Afumati / ILFOV, 077010
Phone: +33-(0)5-6143-2200 Phone: +40-21-351-1382/
BOLIVIA Fax: +33-(0)5-6143-2201 Makita Engineering Germany +40-21-351-1387
Makita Peru S.A. G.m.b.H Fax: +40-21-312-5495
Bolivia branch SPAIN Jenfelder Strasse 38, 22045 Hamburg
La Av. Japón UV. ET3, Lote3 de la ciudad Makita, S.A. Phone: +49-(0)40-66986-0 SC Makita EU SRL
de Santa Cruz, Bolivia C/ Juan de la Cierva, 7-15, Fax: +49-(0)40-66986-352 Blvd. I.C. Bratianu, nr.164,
Phone: +59-(1)-3325-7757 28820 Coslada (Madrid) Comuna Branesti, jud. ILFOV, ROMANIA
Phone: +34-91-671-1262 DENMARK 077030
COLOMBIA Fax: +34-91-671-8293 Makita Elværktøj Danmark Phone: +40-21-310-7675
Makita Colombia, S.A. Denmark office Fax: +40-21-200-0219
Kilometro 7 Autopista Bogota-Medillin, PORTUGAL Erhvervsbyvej 14, 8700 Horsens
Centro Empresarial Celta Trade Park Makita Ferramentas Electricas, Phone: +45-76-254400 BULGARIA
Lote 123 Bodega 3 Funza-Cundinamarca, Sociedade Unipessoal, Lda. Fax: +45-76-254401 Makita Bulgaria EOOD
Colombia Centro empresarial de Alverca, Okolovrasten Pat (circle road), No.373,
Phone: +57-1-896-6199 Armazém C2 Vale das Ervas SWITZERLAND Sofia 1186, Bulgaria
Fax: +57-1-896-6367 2615-187 Alverca do Ribatejo Makita SA Phone: +0359-2-921-0551
Phone: +351-219-936-750 Chemin du Vuasset 7 Fax: +0359-2-921-0550
Fax: +351-219-574-982 CH-1028 Preverenges
EUROPE Phone: +41-(0)21-811-5656 RUSSIA
ITALY Fax: +41-(0)21-811-5678 Makita LLC
Makita S.p.A. Permskaya str. 1, build. 1, Moscow,
UNITED KINGDOM
Makita (U.K.) Ltd.
Via Sempione 269/A, AUSTRIA 107143 Moscow, Russia
20028 San Vittore Olona (MI) Makita Werkzeug Phone: +7-495-915-88-66
Michigan Drive, Tongwell, Phone: +39-0331-524111 Fax: +7-495-916-57-31
Milton Keynes, Bucks MK15 8JD Gesellschaft m.b.H.
Fax: +39-0331-420285 Kolpingstraße 13, A-1230 Wien
Phone: +44-(0)1908-211678 St. Petersburg branch of
Fax: +44-(0)1908-211400 Phone: +43-(1)-6162730-0
GREECE Fax: +43-(1)-6162730-13 Makita LLC
Makita Hellas S.A. Obukhovskoy oborony pr. 70 bld. 3A
Makita International Europe Ltd. 192029, St. Petersburg
Michigan Drive, Tongwell, Tatoiou 34, Acharnes, SLOVENIA Phone: +7-812-703-0210
Milton Keynes, Bucks MK15 8JD ATTIKI PC13677 MAKITA d.o.o.
Phone: +30-210-8071241 Fax: +7-812-703-0213
Phone: +44-(0)1908-211678 Brnčičeva 49,
Fax: +44-(0)1908-211500 Fax: +30-210-8072245 SI-1231 Ljubljana-Črnuče Samara branch of Makita LLC
Phone: +386(0)-590-83-600 3 Mirnaya str., Samara,
Makita Manufacturing Europe Ltd. FINLAND Fax: +386(0)-590-83-601 Russian Federation, 443035
Hortonwood 7, Telford, Makita Oy Phone: +7-846-202-90-50
Shropshire TF1 7YX Teilimäki 4 FIN-01530 Vantaa, Finland UKRAINE
Phone: +44-(0)1952-677688 Phone: +358-(0)9-857-880 Makita Ukraine LLC Makita Oy Vladivostok
Fax: +44-(0)1952-677678 Fax: +358-(0)9-857-88211 18A, Marka Vovchka str., Kyiv, 04073 Representative office
Phone: +38(044)494-23-70/ 22, St. Makovskogo,
FRANCE ESTONIA +38(044)494-23-71 Vladivostok 690041, Primorsky Region
Makita France SAS Makita Oy Estonian branch Fax: +38(044)494-23-73 Phone: +7-4232-375-984
Head office Estonian office Fax: +7-4232-375-985
37, avenue Graham Bell, Piirimäe 13, 76406 Saku vald, POLAND
ZAC Léonard de Vinci, Harjumaa maakond Makita Sp. z o.o. MAKITA LLC, Novosibirsk branch
Bussy Saint-Georges, Phone: +372-6-510-380 ul. Bestwi ska 103 Dargomyzhskogo street 15,
77607 Marne-la-Vallée Cedex 3 Fax: +372-6-510-399 43-346 Bielsko-Biała Novosibirsk 630047, Russia
Phone: +33-(0)1-6094-6400 Phone: +48-(0)33-484-0200 Phone:+7-383-209-18-19
Fax: +33-(0)1-6094-6380 NORWAY Fax: +48-(0)33-818-4059 Fax:+7-383-209-18-19
Makita Norway
Løxaveien 11A N-1351 Rud Norway
Phone: +47 99 40 76 00
Fax: +47 67 13 38 83

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 Corporate Data
MIDDLE EAST & AFRICA
UNITED ARAB EMIRATES Makita Corporation
Makita Gulf FZE
P.O. Box 17133, Jebel Ali Free Zone,
Dubai, UAE Head Office Common Stock Listings
Phone: +971-(0)4-8860-804
Fax: +971-(0)4-8860-805
3-11-8, Sumiyoshi-cho, Anjo, Tokyo and Nagoya stock exchanges
Aichi 446-8502, Japan
KAZAKHSTAN Phone: +81-(0)566-98-1711 Transfer Agent of Common
Makita Kazakhstan LLP
39, St. Kommunalnaya, Almaty, 050050
Fax: +81-(0)566-98-6021 Stock
Phone: +7-727-233-0827 Sumitomo Mitsui Trust Bank, Limited
Fax: +7-727-382-7921 Okazaki Plant 4-1, Marunouchi 1-chome, Chiyoda-ku,
MOROCCO 22-1, Watarijima, Nemunoki-cho, Tokyo 100-8233, Japan
Makita Africa s.a.r.l.a.u. Okazaki, Aichi 444-0232
TANGER MED FREE ZONE
P.O. BOX 203, Ksar Sghir, Phone: +81-(0)564-43-3111 American Depositary Receipts
90150 Wilaya de Tanger, KINGDOM OF MOROCCO
Phone: +212-(0)-539-93-0851 Symbol: MKTAY
Fax: +212-(0)-539-33-9831 Domestic Sales Offices CUSIP: 560877300
Tokyo, Nagoya, Osaka, Sapporo, Sendai,
OCEANIA Niigata, Utsunomiya, Saitama, Chiba, Depositary, Transfer Agent,
Yokohama, Shizuoka, Gifu, Kanazawa, and Registrar for American
AUSTRALIA Kyoto, Hyogo, Hiroshima, Takamatsu, Depositary Receipts
Makita (Australia) Pty. Ltd. Fukuoka, Kumamoto and other major cities
Head office BNY Mellon Depositary Receipts
2 Litton Close, Pemulwuy, NSW 2145 101 Barclays Street,
Phone: +61-(0)2-9839-1200 Date of Founding New York, NY 10286, USA
Fax: +61-(0)2-9839-1201
March 21, 1915 Toll Free Number for Domestic Calls:
Hobart office
32a Chapel Street Glenorchy, 1-888-BNY-ADRS
TAS 7010 Paid-in Capital 1-866-234-6936
Phone: +61-(0)3-6274-1533/1300 361 690
Fax: +61-(0)3-6274-1777/1300 361 770 ¥24,206 million Number for International Calls:
+1-201-680-6825
Perth office
535-537 Abernethy Road, Kewdale, Number of Shares Issued Email:
WA 6105 shrrelations@bnymellon.com
Phone: +61-(0)8-9360-8900 140,008,760 shares,
Fax: +61-(0)8-9360-8999 Website:
including 4,275,499 of treasury stock
(As of March 31, 2016) http://www.adrbnymellon.com/
NEW ZEALAND
Makita (New Zealand) Ltd.
15 Orbit Drive, Mairangi Bay, Auckland, New Zealand
Independent Registered Website
Phone: +64-(0)9-479-8250
Fax: +64-(0)9-479-8259 Public Accounting Firm http://www.makita.biz/ir/
KPMG AZSA LLC

Forward-Looking Statements
This report 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.

25