Nissan 2004 Annual Report Download - page 86

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Nissan Annual Report 2003
84
REPORT OF INDEPENDENT AUDITORS
The Board of Directors
Nissan Motor Co., Ltd.
We have audited the accompanying consolidated balance sheets of Nissan Motor Co., Ltd. and consolidated subsidiaries
as of March 31, 2004 and 2003, and the related consolidated statements of income, shareholders’ equity, and cash flows
for each of the three years in the period ended March 31, 2004, all expressed in yen. These financial statements are the
responsibility of the Company’s management. Our responsibility is to express an opinion on these 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 financial statements referred to above present fairly, in all material respects, the consolidated financial
position of Nissan Motor Co., Ltd. and consolidated subsidiaries at March 31, 2004 and 2003, and the consolidated results
of their operations and their cash flows for each of the three years in the period ended March 31, 2004 in conformity with
accounting principles generally accepted in Japan.
Supplemental Information
As described in Note 2, the Company and certain subsidiaries changed their methods of accounting for inventories,
retirement benefits and noncancelable lease transactions.
The U.S. dollar amounts in the accompanying consolidated financial statements with respect to the year ended March 31,
2004 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 3.
June 23, 2004