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Hitachi, Ltd. Annual Report 2006 81
Report of Independent Registered Public Accounting Firm
To the Stockholders and Board of Directors of
Hitachi, Ltd.:
We have audited the accompanying consolidated balance sheets of Hitachi, Ltd. and subsidiaries as of March 31, 2006
and 2005, and the related consolidated statements of income, stockholders’ equity, and cash flows for each of the
three years in the period ended March 31, 2006, all expressed in Japanese yen. These consolidated financial statements
are the responsibility of the Company’s management. Our responsibility is to express an opinion on these consolidated
financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United
States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. We were not engaged to perform an audit of the Company’s
internal control over financial reporting. Our audits included consideration of internal control over financial reporting as
a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing
an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no
such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in
the financial statements, assessing the accounting principles used and significant estimates made by management,
and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for
our opinion.
The Company’s consolidated financial statements do not disclose certain information required by Statement of Financial
Accounting Standards No. 131, “Disclosures about Segments of an Enterprise and Related Information.” Disclosure of
this information is required by accounting principles generally accepted in the United States.
In our opinion, except for the omission of segment information as discussed in the preceding paragraph, the financial
statements referred to above present fairly, in all material respects, the consolidated financial position of Hitachi, Ltd. and
subsidiaries as of March 31, 2006 and 2005, and the consolidated results of their operations and their cash flows for each
of the three years in the period ended March 31, 2006, in conformity with U.S. generally accepted accounting principles.
We have also recomputed the translation of the consolidated financial statements as of and for the year ended March
31, 2006 into United States dollars. In our opinion, the consolidated financial statements expressed in yen have been
translated into United States dollars on the basis described in Note 3.
Tokyo, Japan
May 17, 2006