Alpine 2008 Annual Report Download - page 35

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35
Independent Auditors’ Report
To the Board of Directors of ALPINE ELECTRONICS, INC.:
We have audited the accompanying consolidated balance sheets of ALPINE ELECTRONICS, INC. and consolidated subsidiaries as of March
31, 2008 and 2007, and the related consolidated statements of income for the years then ended March 31, 2008, 2007 and 2006, the
consolidated statement of changes in net assets for the year ended March 31, 2008 and 2007, the consolidated statement of stockholders’
equity for the year ended March 31, 2006, and the consolidated statements of cash flows for the years ended March 31, 2008, 2007 and 2006,
expressed in Japanese yen. These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is
to independently express an opinion on these consolidated financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in Japan. Those standards require that we plan and perform
the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining,
on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe
that our audits provide a reasonable basis for our opinion.
In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the consolidated financial position of
ALPINE ELECTRONICS, INC. and subsidiaries as of March 31, 2008 and 2007, and the consolidated results of their operations and their cash
flows for each of the three years in the period ended March 31, 2008, in conformity with accounting principles generally accepted in Japan.
The U.S. dollar amounts in the accompanying consolidated financial statements with respect to the year ended March 31, 2008 are presented
solely for convenience. Our audit also included the translation of yen amounts into U.S. dollar amounts and, in our opinion, such translation has
been made on the basis described in Note 1 to the consolidated financial statements.
Tokyo, Japan
June 16, 2008