Mazda 2010 Annual Report Download - page 74

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72                       
To the Board of Directors of Mazda Motor Corporation
We have audited the accompanying consolidated balance sheet of Mazda Motor Corporation and consolidated
subsidiaries as of March 31, 2010 and 2009, and the related consolidated statement of operations, equity 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
financial position of Mazda Motor Corporation and subsidiaries as of March 31, 2010 and 2009, and the results of their
operations and their cash flows for the years then ended, in conformity with accounting principles generally accepted
in Japan.
Without qualifying our opinion, we draw attention to the following:
(1) As referred to in Note 3, effective April 1, 2008, Mazda Motor Corporation adopted new accounting standard
“Practical Solution on Unification of Accounting Policies Applied to Foreign Subsidiaries for Consolidated Financial
Statements” (“PITF No. 18”).
(2) As referred to in Note 3, effective April 1, 2008, Mazda Motor Corporation changed accounting policy for materials
sold to and purchased back from suppliers after fabrication.
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. 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 24, 2010
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