Nissan 2006 Annual Report Download - page 94

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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, 2006 and 2005, and the related consolidated statements of income, shareholders’ equity, and cash flows for each of
the three years in the period ended March 31, 2006, 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, 2006 and 2005, and the consolidated results of their
operations and their cash flows for each of the three years in the period ended March 31, 2006 in conformity with accounting
principles generally accepted in Japan.
Supplemental Information
1. As described in Note 2(a), (b) and (c), effective April 1, 2003, the Company and certain consolidated subsidiaries changed
their methods of accounting for inventories, retirement benefits and noncancelable lease transactions.
2. As described in Note 2(d), effective April 1, 2004, the Company and certain consolidated subsidiaries changed their method of
accounting for freight and shipping costs.
3. As described in Note 2(e) and (f), effective April 1, 2005, the Company and certain domestic consolidate subsidiaries changed
their method of accounting for forward foreign exchange contracts and adopted a new accounting standard for the impairment
of fixed assets.
The U.S. dollar amounts in the accompanying consolidated financial statements with respect to the year ended March 31, 2006
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 27, 2006
REPORT OF INDEPENDENT AUDITORS
Nissan Annual Report 2005
92
FINANCIAL SECTION
Certified Public Accountants
Hibiya Kokusai Bldg.
2-2-3, Uchisaiwai-cho
Chiyoda-ku, Tokyo, Japan 100-0011
C.P.O. Box 1196, Tokyo, Japan 100-8641
Tel : 03 3503 1100
Fax: 03 3503 1197