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Toshiba Corporation Annual Report 1998 51.
Report of Independent Accountants
Yebisu Garden Place Tower
20-3, Ebisu 4-chom e
Shibuya-ku, Tokyo 150-6013
May 25, 1998
To the Board of Directors of
Toshiba Corporation
We have audited th e con solidated balance sheets of Toshiba Corporation an d its subsidiaries as of
March 31, 1998 and 1997, an d the related consolidated statements of operations and retained
earnings an d of cash flows for th e years then en ded, stated in yen . Th ese fin an cial statem ents are the
responsibility of th e Com pan y’s m anagem ent. Our responsibility is to express an opin ion on these
fin an cial statem en ts based on our audits.
We conducted our audits in accordan ce with generally accepted auditing standards. Those stan dards
require th at we plan and perform th e audit to obtain reason able assuran ce about wh eth er th e fin ancial
statem ents are free of m aterial m isstatem ent. An audit includes examinin g, on a test basis, evidence
supporting th e am oun ts and disclosures in the finan cial statements. An audit also includes assessing
th e accountin g principles used an d significan t estim ates m ade by m anagement, as well as evaluating
th e overall finan cial statement presentation . We believe th at our audits provide a reason able basis for
our opinion.
The Com pany has n ot adopted Statem ent of Fin ancial Accountin g Standards (SFAS) No. 115,
“Accountin g for Certain Investm en ts in Debt and Equity Securities”. The effects on th e consolidated
fin an cial statem en ts of not adopting SFAS No. 115 and th e disclosures required by SFAS No. 115 are
summ arized in n ote 4 of n otes to th e consolidated fin an cial statements.
The Com pan y h as n ot presented segment information for th e years ended March 31, 1998 and 1997.
The presentation of segm ent information con cerning the Company’s operation s in differen t industries,
its foreign operations and its export sales is required by accountin g principles generally accepted in th e
Un ited States of America for a com plete presentation of con solidated financial statem ents.
In our opinion, except for th e effects of th e departure from SFAS No. 115 and th e om ission of segm ent
information discussed in th e th ird an d fourth paragraphs of this report, th e con solidated fin ancial
statem ents audited by us presen t fairly, in all material respects, th e financial position of Toshiba
Corporation an d its subsidiaries at March 31, 1998 and 1997, an d the results of th eir operation s an d
th eir cash flows for th e years th en ended in con form ity with accoun ting principles generally accepted
in the Un ited States of America.