Konica Minolta 2010 Annual Report Download - page 53

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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, 2010 and 2009, 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 per-
form 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 Konica Minolta Holdings, Inc. and subsidiaries as of March 31, 2010 and 2009, 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, 2010 are presented
solely for convenience of the reader. Our audit also included the translation of Japanese 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 22, 2010
INDEPENDENT AUDITORS’ REPORT
Konica Minolta Holdings, Inc. and Consolidated Subsidiaries
KONICA MINOLTA HOLDINGS, INC. ANNUAL REPORT 2010 51