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1
FYE2020Operating Results
Munetoshi GotoPresident, Representative Director
(Fiscal Year ended March 31, 2020)
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FYE2020 Results
Variance to FYE2019
Revenue ¥ 492.6 billion + 0.4%
Domestic ¥ 100.7 billion + 9.3%
Overseas ¥ 391.9billion - 1.6%
Overseas revenue ratio: 79.6% (FYE2019: 81.2%)
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3
Revenue by Geographic Area
74.4 82.6 92.1 100.7
169.0
202.0213.3 216.2
66.1
73.972.5 72.3
40.1
44.140.9 39.0
23.1
27.927.8 26.0
25.1
31.330.2 28.4
17.2
15.5 13.8 10.0
0
100
200
300
400
500
FYE17 FYE18 FYE19 FYE20
Mid-East/Africa
Oceania
Central &SouthAmerica
Asia
NorthAmerica
Europe
Japan
Yen inbillions 492.6
490.6477.3
415.0
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Foreign Exchange Rate
FYE2019 FYE2020 Variance
USD ¥ 110.92 ¥ 108.702.0%
Appreciation
EUR ¥ 128.44 ¥ 120.815.9%
Appreciation
RMB ¥ 16.54 ¥ 15.605.7%
AppreciationWeighted average change for all foreign currencies:
4.9% appreciated in the value of the yen
Effect on revenue: Decrease of ¥20.3 billion
3
5
-5%
0%
5%
10%
15%
20%
Japan
FYE2019 FYE2020
1H 2H 1H 2H
JapanFYE2019 + 11.6%FYE2020 + 9.3%
Revenue Growth (Local Currency Basis)
6
Revenue Growth (Local Currency Basis)
-5%
0%
5%
10%
15%
FYE2019 FYE2020
1H 2H 1H 2H
Western EuropeFYE2019 + 6.2%FYE2020 + 4.3%
Eastern Europe/ RussiaFYE2019 + 10.6%FYE2020 + 12.4%
Europe +7.2%
4
7
-10%
-5%
0%
5%
10%
North AmericaFYE2019 -1.6%FYE2020 +1.9%
AsiaFYE2019 -6.2%FYE2020 - 2.8%
North America, Asia
FYE2019 FYE2020
1H 2H 1H 2H
Revenue Growth (Local Currency Basis)
8
-50%
-40%
-30%
-20%
-10%
0%
10%
20%
Central & SouthAmericaFYE2019 + 12.9%FYE2020 + 3.5%
Mid-East/AfricaFYE2019 - 10.8%FYE2020 - 25.9%
OceaniaFYE2019 + 2.2%FYE2020 + 2.4%
Central & South America, Oceania, Mid-East/Africa
FYE2019 FYE2020
1H 2H 1H 2H
Revenue Growth (Local Currency Basis)
5
9
Outdoor Power Equipment (OPE)
• High power, low noise and less vibration
• Delivers the similar performance demanded for 30mL Engine Grass Trimmer
• Light weight, low noise, high power
• Delivers higher performance compared with engine products
• Enables to use machine comfortably in an upright standing posture
• Lightest weight in the class and delivers high power
• Surpassed the performance demanded for 22mL Engine Hedge Trimmers
Examples of New Products introduced in this fiscal year
255mm Cordless Grass Trimmer Series Cordless Hedge Trimmer
Cordless Pole Hedge Trimmer
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Lithium-ion Battery ProductsExamples of New Products introduced in this fiscal year
High power leading to Next-generation
Excellent wave receiving sensitivity and large 10 inch liquid crystal panel
Enables easy fastening with high torque
40Vmax series
Cordless TV with Radio
Cordless Impact Wrench
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11
270 289 290 308
298 414 512 577 132 124
134 102
1,874
2,179 2,013 1,778
69
105 109 107
0
1,000
2,000
3,000
FYE2017 FYE2018 FYE2019 FYE2020
Central &SouthAmericaAsia
NorthAmerica
Europe
Japan
10 thousands of units
2,8723,0583,111
2,643
Production Quantities by Geographic Area
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March 31, 2019 ¥219.9 billion
March 31, 2020 ¥ 214.6 billion
Decrease of Inventories ¥ 5.3 billion
Increase of inventories on hand ¥ 9.1 billion
Decrease by translation into yen ¥ 14.4 billion
Inventories
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Operating profitCost of salesSales general and administration expense
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FYE2019 FYE2020 Variance
Revenue ¥ 490.6 billion ¥ 492.6 billion +0.4%
Cost of Sales ¥ 313.4 billion ¥ 323.8 billion +3.3%
Cost of Sales Ratio 63.9% 65.7%UP
1.8 points
SG&A Expenses ¥ 98.9 billion ¥ 104.8 billion +5.9%
SG&A Expenses Ratio 20.1% 21.3%Up
1.2 points
Operating Profit ¥ 78.3billion ¥ 64.0 billion -18.2%
Operating Profit Ratio 16.0% 13.0%Down
3.0 points
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ExchangeRate
-4.9
Analysis of Operating Profit
SG&A
-9.7
Sales Volume
+7.7
Others
-5.9
Yen inbillions
FYE2019 FYE202014
78.3
64.0
Cost
-1.5
8
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Financial Income,Profit Before Income Taxes, Profit Attributable to Owners of the Parent, EPS
FYE2019 FYE2020 Variance
Financial Income ¥1.6 billion ¥2.0 billion ¥0.4 billion
Profit Before Income Taxes ¥79.9 billion ¥66.0 billion - 17.4%
Profit Attributable to Owners of the Parent
¥55.8 billion ¥47.7 billion - 14.4%
EPS ¥205.37 ¥175.80 - 14.4%
15.0
23.9
44.4
FYE18
FYE19
FYE20
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Capital Expenditure (Yen in billions)
Depreciation and Amortization(Yen in billions)
R&D Cost (Yen in billions)
10.8
11.3
12.1
FYE18
FYE19
FYE20
10.9
11.3
11.6
FYE18
FYE19
FYE20
Capital Expenditure,Depreciation and Amortization, R&D Cost
Major capital investment in FYE 2020Okazaki Plant: Distribution warehouse (building)Romania Plant: Additional factory building (land / building)China Plant: Additional factory building (land / building)U.S.: Distribution warehouse (land / building)
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• Moving forward as a manufacturer of cordless products
• Expand sales, after sales services and distribution networks
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Makita’s CommitmentsMakita’s Commitments
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Cordless Impact Wrench
Introduction of 40Vmax series
achieving higher power
High voltage system
Makita’s Commitments
Moving forward as a manufacturer of cordless products
Cordless Angle Grinder
10
19
Supply power with four 18V batteries
Portable Battery Pack
Enabling operators to work longer hours
High capacity system
Makita’s Commitments
Moving forward as a manufacturer of cordless products
20
CordlessCooling Box Cordless Heated
Blanket seriesCordless Fan Jacket
series
Series of products also used at the time of disaster or outdoor activities
CordlessTV with Radio
Cordless LED Work Light
Makita’s Commitments
Moving forward as a manufacturer of cordless products
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21
Cordless Stick Vacuum Cleaner
Backpack Vacuum Cleaner
Cordless Wet/Dry Vacuum Cleaner
Cordless Sprayers
Robotic Cleaner
Cultivate commercial cleaning market
Makita’s Commitments
Moving forward as a manufacturer of cordless products
22
“Hachimura Rap” movie clip
Advertising for TV100
Cordless TV with Radio
“Robot x Rui” movies clip
Advertising for 40Vmax series
Marketing and Advertising
Makita’s Commitments
Moving forward as a manufacturer of cordless products
12
23
Lead to Cordlessfor wide range of products
Resolve social challenges such as environmental issues
Reduction of single use plastics used to package our productswe will further shift to more environment-friendly materials,
including paper.
Further initiatives
Expand the company which does not rely only on single area of business
Makita’s Commitments
24
Expansion of sales, after sales services and distribution networks
List of new sites (including logistics)
Expansion and establishment of logistics bases looking at an increase in the handling of large-sized products
Improve customer satisfactionthrough rapid logistics services
Area City
Japan Isahaya (Nagasaki)※ Open in April 2020
Europe Berlin(Germany)Utrecht(Netherland)Minsk(Belarus)
North America Dallas (U.S.)※ Expansion of warehouse
Asia Vadodara, etc.(India)Yunlin, etc.(Taiwan)Hanoi(Vietnam)
Central & South America
Antofagasta(Chile)
Oceania Christchurch (New Zealand)
Makita’s Commitments
13
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Advantages of expanding networks
Speedy repair services and logistics
Increase opportunities for potential customers to experience Makita products
Grasp market needs
Deliver speedy sales support to dealers
Increase fans of Makita by strengthening local
community- and customers based sales and after sales
services
Makita’s Commitments
Expansion of sales, after sales services and distribution networks
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FYE2021 Forecast
We will announce the financial forecast as soon as possible.
FYE2021 Forecast : TBD
14
27
COVID-19
A decline in tool demand may lead to a decrease in revenue and profits.
Covid-19 outbreak especially in Europe, Japan, and North America, where sales ratios are high, could lead to a significant impact on performance.
If Covid-19 spreads again in China where the production ratio is high and the suppliers are concentrated.
Possibly lead to a significant impact on the Group's production and sales activities.
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Dividend
Dividend Policy Dividend Payout Ratio: 30% or greater
FYE2020 FYE2021(Forecast)
Profit attributable to owners of the parent
¥47.7 billion TBD
EPS ¥175.80 TBD
Special Circumstance ― ―Annual Cash Dividend
Per Share 53 yen TBD(Note)
Interim Dividend 10 yen 10 yen
Year-end Dividend 43 yen TBD(Note)
Payout Ratio 30.1% 30% or greaterNote: In April 2021, the Board of Directors plans to propose a dividend equivalent to at least 30% of profit attributable to owners of the parent.
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https://www.makita.biz/
FORWARD-LOOKING STATEMENTSThis 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.