Key Developments For Makita Corporation
Makita Corporation (MKTAY.O) (Nasdaq)
Makita Corporation Raises Consolidated Mid-year and Full-year Guidance for FY Ending March 31, 2010
Makita Corporation announced that the Company has raised the consolidated mid-year guidance for revenue from JPY 113,500 million to JPY 118,600 million, operating profit from JPY 8,200 million to JPY 14,800 million, ordinary profit from JPY 7,700 million to JPY 17,200 million, net profit from JPY 5,400 million to JPY 10,600 million and earning per share from JPY 39.20 to JPY 76.94 for the fiscal year ending May 31, 2010. The Company has also reaffirmed the consolidated full-year guidance for revenue of JPY 230,000 million, and raised the guidance for operating profit from JPY 18,000 million to JPY 26,000 million, ordinary profit from JPY 17,000 million to JPY 28,000 million, net profit from JPY 12,000 million to JPY 16,700 million and earning per share from JPY 87.11 to JPY 121.22 for the same fiscal year. The Company raised the consolidated mid-year and full-year outlook due to cheap yen depreciation against euro, as well increased production and decreased costs in China-based plants. According to Reuters Estimates, analysts on average were expecting the Company to report full-year revenue of JPY 234,000 million, operating profit of JPY 21,000 million and net profit of JPY 15,000 million.
Makita Corporation to Issue Dividend
Makita Corporation announced that it has decided to issue its dividend of JPY 50.00 per share, in line with the latest forecast of JPY 50.00 per share, to all the shareholders of record as of March 31, 2009, effective June 26, 2009.
Makita Corporation Announces Common Stock Retirement
Makita Corporation announced that it will retire 4,000,000 shares of its common stock, approximately 0.49% of its total shares outstanding, on February 9, 2009. After the retirement, the total of its shares outstanding will be 140,008,760.
Makita Corporation Establishes New Subsidiary
Makita Corporation announced that it has established a new wholly owned subsidiary, Makita Africa s.a.r.l.a.u. which engages in the sale of products and components for electronic tools and gardening. The subsidiary will start business since February 1, 2009.
Makita Corporation Lowers Consolidated Full-year Outlook for FY Ending March 31, 2009
Makita Corporation announced that it has lowered its consolidated full-year outlook for revenue from JPY 303,000 million to JPY 290,000 million, operating profit from JPY 54,000 million to JPY 50,000 million, net profit (pre-tax) from JPY 50,200 million to JPY 44,500 million, net profit from JPY 36,200 million to JPY 33,000 million and earning per share from JPY 257.16 to JPY 239.54 for the fiscal year ending March 31, 2009. The Company lowered the full-year guidance due to the financial crisis and decreased demands for electronic equipment. According to Reuters Estimates, analysts on average are expecting the Company to report full-year revenue of JPY 295,300 million and net profit of JPY 30,550 million.
