Here's my somewhat educated guess. LiPo cells are normally stored at 3.6 or 3.7 volts. So, a LiPo battery pack with 4 cells in series at 3.6 volts each gives you 14.4 volts.
LiPo cells are normally charged to about 4.2 volts. So 4 cells in series at 4.2 volts will give you 16.8 volts. It's possible that Makita is charging to a slightly higher voltage per cell but I doubt it since they want the battery to last.
Assuming your Makita is lithium my guess is that they are generously rounding up the full charge voltage.
If your kit has an older NiCad battery, 14.4 volts is 12 NiCad cells at 1.2 volts each in series. If you charge a 12 cell NiCad battery to 1.5 volts per cell, that gives you 18 volts for the entire pack.
Chris