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Makita (OTC:MKTAY) Stock, Option Chain

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Makita Corp.

Makita manufactures and sells professional-grade power tools, outdoor power equipment, and other tools, such as lithium-ion battery-powered drills, impact drivers, lawn mowers, chainsaws, and hedge trimmers. The company was founded in 1915 as an electric motor sales and repair company in Nagoya, Japan, and later became a power tools manufacturer, since marketing its first portable electrical planer in Japan in 1958. While the company has local production bases in key regions globally, above 60% of its product volume is manufactured in China. Its headquarters is currently in Anjo, Japan.

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Power tool company Stanley Black &amp; Decker Inc (NYSE: SWK) CFO Donald Allan Jr is seeking partnerships with battery and chip manufacturers to ease the pressure on the tool maker’s supply chain, the 

Stanley Black &amp; Decker CFO Explores Battery, Chip Maker Partnerships To Ease Post Pandemic Supply Chain Pressure: WSJ

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Makita Corp

Power tool company&nbsp;Stanley Black &amp; Decker Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/swk#NYSE">SWK</a>) CFO Donald Allan Jr is seeking partnerships with battery and chip manufacturers to ease the pressure on the tool maker&rsquo;s supply chain, the&nbsp;<a class="editor-rtfLink" href="https://www.wsj.com/articles/stanley-black-decker-cfo-looking-for-partnerships-with-battery-chip-makers-11624017600?mod=tech_lead_pos3" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Wall Street Journal reports</a>.
What Happened:&nbsp;The company is seeking electric battery and computer chip makers for component supply in return for an investment.
Stanley Black &amp; Decker has a tentative partnership with a South Korean battery maker for a production line that will start manufacturing batteries in Malaysia in 2022. It is also in talks with other Asian and U.S. businesses about potential partnerships.
Stanley Black &amp; Decker estimated $500 million in 2021 capital expenditures. It plans to incur about 10% - 15% of that to supply-chain partnerships and other related initiatives. Supply chain partnerships accounted for less than 5% of the CAPEX before the pandemic.
Stanley Black &amp; Decker already has small-scale partnerships with companies that build specific tooling and production lines.
The company needs batteries for its cordless power tools and uses computer chips across its portfolio. It manufactures a significant portion of its products in the U.S. and Europe. It prefers to set up new production lines in those regions to beat Asia&rsquo;s long wait times.
Why It Matters:&nbsp;SWK remains bullish on demand for its components like batteries and chips.
Competitors like Japan&rsquo;s&nbsp;Makita Corp&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/mktay#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">MKTAY</a>) and Hong Kong&rsquo;s&nbsp;Techtronic Industries Co Ltd&nbsp;(OTC:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/stock/ttndy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TTNDY</a>) manufacture a more significant chunk of their products in Asia, potentially providing them with easier access to batteries and chips.
Stanley Black &amp; Decker identified around critical 30 suppliers and extended and prolonged contracts with many of them for up to five years.
Any price hike for batteries and chips can have a sizable impact on its finances as the components account for the most significant proportion of goods sold.
The company raised the cost guidance from $160 million to $235 million for 2021 due to inflation. It aims to pass two-thirds of the increase on to customers and offset the rest by increasing efficiency and cost savings.
Stanley Black &amp; Decker began raising prices for some of its products this quarter and has more hikes due.
The company expects to free up between $100 million and $150 million a year by increasing efficiency and cost savings.
Stanley Black &amp; Decker&rsquo;s Q1 operating margin expanded 810 basis points to 16.9%.
The company will need more batteries&nbsp;<a class="editor-rtfLink" href="https://ir.stanleyblackanddecker.com/news-releases/news-release-details/stanley-black-decker-reaffirms-2021-guidance-and-provides" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">as it seeks to acquire the</a>&nbsp;remaining 80% of MTD Products Inc. MTD produces mowers and other outdoor equipment and expects to move toward using more electric motors in the coming years.
Price action:&nbsp;SWK shares closed lower by 0.25% at $194.92 on Friday.

Stanley Black & Decker CFO Explores Battery, Chip Maker Partnerships To Ease Post Pandemic Supply Chain Pressure: WSJ

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