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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 (the “Company”) as of
March 31, 2009 and 2008, and the related consolidated statements of operations, stockholders’ equity, and cash flows for
each of the three years in the period ended March 31, 2009, all expressed in Japanese yen. These financial statements are
the responsibility of the Company’s management. Our responsibility is to express an opinion on these 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. 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.
The Company’s consolidated financial statements do not disclose segment information required by Statement of Financial
Accounting Standards No. 131, “Disclosures about Segments of an Enterprise and Related Information.” In our opinion,
disclosure of segment information is required by U.S. generally accepted accounting principles.
In our opinion, except for the omission of segment information 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 at
March 31, 2009 and 2008, and the consolidated results of their operations and their cash flows for each of the three years
in the period ended March 31, 2009, in conformity with U.S. generally accepted accounting principles.
As discussed in Note 2 (i), “Property, Plant and Equipment,” effective April 1, 2007, the Company elected to change to the
250% declining balance depreciation method.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States),
Hitachi, Ltd.’s internal control over financial reporting as of March 31, 2009, based on criteria established in Internal Control-
Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report
dated June 23, 2009 expressed an unqualified opinion thereon.
We have also recomputed the translation of the consolidated financial statements as of and for the year ended March 31,
2009 into United States dollars. In our opinion, the consolidated financial statements expressed in Japanese yen have been
translated into United States dollars on the basis described in Note. 3.
Tokyo, Japan
June 23, 2009
93
Hitachi, Ltd.
Annual Report 2009