MAKITA CORPORATION Makita Report
2023
Year Ended March 31, 2023
Long-term Target
Strong Company
Makita has set itself the goal of contributing to the creation of sustainable society and consolidating a strong position in the industry worldwide as a global supplier of a comprehensive range of tools for creating comfortable homes and living environments, including cordless power tools, battery-operated outdoor power equipment and pneumatic tools.
Management Policy/Quality Policy
1 2 3 4
Makita strives to | Makita values | Makita is managed |
exist in harmony | its customers | in a consistent and |
with society | (a market-driven company). | proactive manner |
(a company that observes | (a company that strives to | |
laws and regulations, acts | exist in perpetuity by | |
ethically and never allows | adhering to a sound | |
intervention of the | profit structure). | |
anti-social organizations). |
Valuing a stalwart corporate culture, Makita encourages each individual to perform to his or her highest level
(a happy company).
Table of Contents
Management for Sustainable Growth
- Makita's Value Creation History
- Makita Today
- Chairman's Message
- President's Message
Makita's Value Creation
13 Makita's Vision and the Strengths That Support its Realization
15 Makita's Value Creation Process
- Contributions to Solving Social Challenges
- Business Overview
- Financial & Non-financial Highlights
25 Message from the Director of the Administration Department
Makita's Sustainability Management
29 Progress of Makita's Sustainability Management and Material Issues
- Society (Disclosure of Human Capital, etc.)
-
Environment
39 Initiatives in Line with the TCFD Recommendations
- Corporate Governance 49 List of Directors
51 Messages from Outside Directors
Corporate Data
- 11-YearSummary
- Stock Information
- Corporate Data
1 Makita Report 2023
About This Report
Editorial Policy
The Makita Report is published with the objective of presenting the Company's initiatives for creating value over the medium- to long-term in a way that integrates both financial and non-financial information. In preparing the report, information that is particularly important for the Company's value creation was compiled concisely, referencing international frameworks such as those of the International Financial Reporting Standards Foundation (IFRS). Please see the Company website (https://www.makita.biz/) for more information. In addition, financial information, environmental information, and governance information is presented in detail in the Additional Information, Earnings Release and Fact Sheet in the Investor Relations section of the Company's website, Environmental Report, and the Corporate Governance Report, respectively.
Disclosure System Diagram
- This report covers 54 companies, including Makita Corporation and its 53 consolidated subsidiaries (as of March 31, 2023), but some of the information reported only covers Makita Corporation.
Reporting Period FYE 2023 (April 1, 2022 to March 31, 2023)
However, information from outside of this period is reported when it is
appropriate to the presentation of past circumstances and data as well as recent examples.
Issued: July 2023
Main Content
Periodic Report
Latest Information
Financial Information
Non-financial Information
- Annual Securities Report
- Financial Results
- Fact Sheet
- Environmental Report
- Corporate Governance
Report | Makita Report |
Makita's website
Caution Regarding Forward-looking Statements
In this report, forward-looking statements are about future performance and are based on the Company's judgment derived from the information available at the time of its preparation. Please understand that a number of important factors could cause actual results to differ materially from those presented in the forward-looking statements.
Makita Report 2023 | 2 |
Management for Sustainable Growth
Makita's Value Creation History
Continuously Evolving to Meet the Needs of the Times and Our Customers
Makita began in 1915 as a repair and sales company handling such items as lighting equipment, electric motors, and transformers. Since then, we have pursued expansion on a global scale, evolving to overcome challenges while meeting the needs of our customers and the times. By leveraging our strengths, including a worldwide network of sales and service bases, we will continue to evolve, becoming "a Supplier of a Comprehensive Range of Cordless Products" and achieving further growth. Moving forward, Makita will ensure the provision of products and services that accurately meet the needs of our customers and the times and thereby achieve sustainable growth.
Highlights of Makita's Evolution
1958-59
Overcoming Adversity, Becoming a Power Tool Manufacturer
The recession following the Korean War caused a slump in sales, and developing original products became an important management issue. After much trial and error, in 1958, the first Japanese-made portable electric planers were launched with the catchphrase "20 times more efficient than a human." The electrification of this product was well received, and perfectly met the needs of carpenters nationwide amid a boom in construction demand. On the tailwind of the planers' popularity, in 1959, the Company decided to withdraw from the electric motor business and become
a power tool manufacturer.
1970
Taking the First Step toward Overseas Expansion
As Japan began to see a slowing of the rapid pace of postwar economic growth, Makita established its first overseas
subsidiary, Makita U.S.A. Inc. in the U.S., with the goal of expanding exports. In a fierce market crowded with competi- tors, including major power tool manufacturers, we had some difficulties at first. However, we developed a finely tuned sales strategy that reflected the value we place on being close to customers, and our products' excellent cost performance along with our high quality after-sales service earned high evaluations. As a result, we were able to successfully penetrate the North American market.
1915 Mosaburo Makita founded Makita Electric Works (proprietorship) in Nagoya, Japan
1938 Incorporated the proprietorship and established Makita Electric Works, Inc.
1945 Moved to the present location in Sumiyoshi-cho, Anjo City, to accommodate World War II related evacuations
1958 Released the 1000 portable electric planer, Japan's first such domestically produced tool
1959 • Decided to convert to a power tool manufacturer
- Shipped the 1300 hand-held electric planer to Australia, our first export of power tools
1962 Changed company name to Makita Electric Works, Ltd.
1970 Established Makita U.S.A. Inc., our first overseas subsidiary
Social Changes and the Value Makita Offers
1910- 1950-
1970-
Social
Changes
Japan's modernization
- Increased demand for electric power
Began repairing and
selling lighting equipment, electric motors, transform- ers, and other products
Japan's rapid postwar economic growth
- Arrival of the construction boom
Released Japan's first
portable electric planer
Globalization of the economy triggered by two oil shocks
• Companies expanded overseas
Beganbuilding a finely-tuned sales and service network that spans the globe
The Value
Makita Offers
3 Makita Report 2023
Revenue
(Consolidated)
¥764.7billion
(FYE 2023)
2005-
Moving toward Becoming "a Supplier of
a Comprehensive Range of Cordless Products" for Sustainable Growth with Society
In recent years, the world has seen a rise in the severity of such social issues as labor shortages and environmental problems. Looking to provide solutions, Makita has focused on lithium-ion batteries and, in 2005, was the first in the industry to launch professional-use cordless power tools with lithium-ion batteries. We are now taking steps to evolve into "a Supplier of a Comprehensive Range of Cordless Products," aiming to achieve our long-term goal of being a "Strong Company" and to resolve a wide range of social issues while balancing the sustainable growth of the Company.
1991 Changed company name to Makita Corporation
2005 Launched the TD130D cord- less impact driver, our first lithium-ion battery tool
1980 Started production of power tools in Canada,* our first overseas production site
* Production terminated in January 2009
2015 100th anniversary of Makita's founding
2019 Launched the Li-ion 40Vmax series
2022 • Discontinued engine-powered products
- Established the Electronic Control Development Center (Tokyo Office)
2000-
Discovering the sustainable society concept
-
Heightened interest in environmental
issues and strengthening measures to prevent global warming - Growing demand for energy conservation and efficiency
2010-
Toward a diverse, inclusive society
- Adoption of SDGs leads to global efforts toward a sus- tainable society
2020-
Realizing a sustainable society
- Acceleration of initiatives to realize decarbonization
Began selling professional cordless tools with lithium-ion batteries
Launched a varied lineup of cordless products that contribute to the resolution of social issues
Makita Report 2023 | 4 |
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Disclaimer
Makita Corporation published this content on 19 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 July 2023 07:40:11 UTC.
