Konica Minolta 2009 Annual Report Download - page 47

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Independent Auditors’ Report
Konica Minolta Holdings, Inc. and Consolidated Subsidiaries
45
To the Shareholders and Board of Directors of
Konica Minolta Holdings, Inc.:
We have audited the accompanying consolidated balance sheets of Konica Minolta Holdings, Inc. and consolidated
subsidiaries as of March 31, 2009 and 2008, and the related consolidated statements of income, changes in net assets
and cash flows for the years then ended, 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 con-
solidated financial position of Konica Minolta Holdings, Inc. and subsidiaries as of March 31, 2009 and 2008, 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.
The U.S. dollar amounts in the accompanying consolidated financial statements with respect to the year ended March
31, 2009 are presented solely for convenience of the reader. 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 3 to the
consolidated financial statements.
Tokyo, Japan
June 23, 2009