Olympus 2002 Annual Report Download - page 45

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43
To the shareholders and the Board of Directors of Olympus Optical Co., Ltd.
We have audited the accompanying consolidated balance sheets of Olympus Optical Co., Ltd. and consolidated subsidiaries as of
March 31, 2002 and 2001, and the related consolidated statements of income, shareholders’ equity and cash flows for each of the
three years in the period ended March 31, 2002, all expressed in Japanese yen. Our audits were made in accordance with generally
accepted auditing standards in Japan and, accordingly, included such tests of the accounting records and such other auditing
procedures as we considered necessary in the circumstances.
In our opinion, the consolidated financial statements referred to above present fairly the consolidated financial position of
Olympus Optical Co., Ltd. and consolidated subsidiaries as of March 31, 2002 and 2001, and the consolidated results of their
operations and their cash flows for each of the three years in the period ended March 31, 2002 in conformity with accounting
principles generally accepted in Japan (Note 1) applied on a consistent basis during the periods, except as noted in the following
paragraph.
As explained in Note 1, Olympus Optical Co., Ltd. and consolidated subsidiaries prospectively adopted new Japanese accounting
standards for financial instruments, employees’ severance and retirements benefits, and foreign currency transactions in the year
ended March 31, 2001, consolidation and equity method accounting in the year ended March 31, 2000. Also, Olympus Optical
Co., Ltd. and consolidated subsidiaries adopted the Internal Company System, effective April 1, 2001, as described in Note 17,
with which we concur.
Also, in our opinion, the U.S. dollar amounts in the accompanying consolidated financial statements have been translated from
Japanese yen on the basis set forth in Note 1.
Asahi & Co.
Tokyo, Japan
June 27, 2002
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS