Mazda 2007 Annual Report Download - page 83
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Report of Independent Certified Public Accountants
To the Shareholders and Board of Directors of
Mazda Motor Corporation:
We have audited the accompanying consolidated balance sheets of Mazda Motor Corporation
and consolidated subsidiaries as of March 31, 2007 and 2006, the related consolidated
statements of income, equity and cash flows for each of the three years in the period ended
March 31, 2007, expressed in Japanese yen. These consolidated financial statements are the
responsibility of Mazda Motor Corporation’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 consolidated financial position of Mazda Motor Corporation and subsidiaries as of
March 31, 2007 and 2006, and the consolidated results of their operations and their cash flows
for each of the three years in the period ended March 31,2007, in conformity with accounting
principles generally accepted in Japan.
Without qualifying our opinion, we draw attention to the following:
(1) As discussed in Note 3 to the consolidated financial statements, effective April 1, 2006,
Mazda Motor Corporation and consolidated domestic subsidiaries adopted new accounting
standard for presentation of equity in the balance sheet.
(2) As referred to in Note 3 to the consolidated financial statements, effective April 1, 2006,
Mazda Motor Corporation and domestic subsidiaries adopted new accounting standard for
share-based payment.
The U.S. dollar amounts in the accompanying consolidated financial statements with respect to
the year ended March 31, 2007 are presented solely for convenience. 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 1 to the consolidated financial statements.
Hiroshima, Japan
June 26, 2007