Konica Minolta 2004 Annual Report Download - page 57

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55
KONICA MINOLTA HOLDINGS, INC. 2004
Report of Independent Auditors
Konica Minolta Holdings, Inc. and Consolidated Subsidiaries
To the Board of Directors of
Konica Minolta Holdings, Inc.
We have audited the accompanying consolidated balance sheets of Konica Minolta Holdings, Inc. and its subsidiaries as of March 31,
2004 and 2003, and the related consolidated statements of income, shareholders’ equity, and of cash flows for the years then ended, 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 auditing standards generally accepted in Japan. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement. An
audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the consolidated financial statements. An audit
also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall
consolidated 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 Konica Minolta Holdings, Inc. and its subsidiaries as of March 31, 2004 and 2003, and the consolidated results of their
operations and their cash flows for the years then ended in conformity with accounting principles generally accepted in Japan.
As described in Note 14, the Company changed the classification of its business segments.
The amounts expressed in U.S. dollars, which are provided solely for the convenience of the reader, have been translated on the basis set
forth in Note 3 to the accompanying consolidated financial statements.
Tokyo, Japan
June 25, 2004