A question about Suffix -> no suffix rule

[Shigio YAMAGUCHI]

Hello,
I cannot understand a behavior of GNU Make.
Would you please teach me about it?

I have done the following procedure in my OSX El Capitan:

$ make --version
GNU Make 3.81
Copyright (C) 2006  Free Software Foundation, Inc.
This is free software; see the source for copying conditions.
There is NO warranty; not even for MERCHANTABILITY or FITNESS FOR A
PARTICULAR PURPOSE.

This program built for i386-apple-darwin11.3.0
$ ls
Makefile
$ cat Makefile
%: %.m4
        m4 $^ > $@
$ touch test.html.m4
$ make test.html
m4 test.html.m4 > test.html
$ touch test.c.m4
$ make test.c
make: *** No rule to make target `test.c'.  Stop.

Why does the build of test.c fail?
Is there a way to make it succeed?

Thanks,
Shigio
-- 
Shigio YAMAGUCHI <address@hidden>
PGP fingerprint: D1CB 0B89 B346 4AB6 5663  C4B6 3CA5 BBB3 57BE DDA3