Suspended factory operations resulted in revenue declines during the pandemic
Amid the COVID-19 (coronavirus) pandemic, added regulations to slow the spread of the virus resulted in Makita Corporation (Makita) temporarily suspending factory operations. Paused operations led to some declines in company revenue. However, financial performance quickly rebounded as consumers increased home improvement expenditure and constriction activity picked up to take advantage of low interest rates, driving power tool demand. In turn, the company is estimated to post double-digit growth as the economy recovers from the onset of the pandemic.
COVID|Balance Sheet|New ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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