Alpine 2007 Annual Report Download - page 35

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33
Independent Auditors’ Report
To the Board of Directors of ALPINE ELECTRONICS, INC.:
We have audited the accompanying consolidated balance sheets of ALPINE ELECTRONICS, INC. and consolidated subsidiaries as of
March 31, 2007 and 2006, and the related consolidated statements of income for the years then ended March 31, 2007, 2006 and 2005,
the consolidated statement of changes in net assets for the year ended March 31, 2007, the consolidated statement of stockholders’ equity
for the year ended March 31, 2006 and 2005, and the consolidated statements of cash fl ows for the years ended March 31, 2007, 2006
and 2005, expressed in Japanese yen. These consolidated fi nancial statements are the responsibility of the Company’s management. Our
responsibility is to independently express an opinion on these consolidated fi nancial 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 fi nancial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in the fi nancial 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 consolidated financial
position of ALPINE ELECTRONICS, INC. and subsidiaries as of March 31, 2007 and 2006, and the consolidated results of their operations
and their cash fl ows for each of the three years in the period ended March 31, 2007, in conformity with accounting principles generally
accepted in Japan.
Without qualifying our opinion, we draw attention to Note 15 of the consolidated financial statements. The Company reclassified the
business segment of a part of products for the year ended March 31, 2007.
The U.S. dollar amounts in the accompanying consolidated financial statements with respect to the year ended March 31, 2007 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 fi nancial statements.
Tokyo, Japan
June 26, 2007