Bridgestone 2002 Annual Report Download - page 52

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To the Board of Directors and Shareholders of Bridgestone Corporation:
We have examined the consolidated balance sheets of Bridgestone Corporation and subsidiaries as of December 31, 2002
and 2001, and the related consolidated statements of income, shareholders’ equity, and cash flows for the years then ended,
all expressed in Japanese yen. The consolidated statements of income, shareholders’ equity, and cash flows of Bridgestone
Corporation and subsidiaries for the year ended December 31, 2000 were audited by other auditors whose reports, dated
March 29, 2001 expressed an unqualified opinion on those statements and included explanatory paragraphs that described
the significant legal matters and the investigation of the National Highway Traffic Safety Administration in the United
States of America. Our examinations were made in accordance with auditing standards, procedures and practices generally
accepted and applied in Japan and, accordingly, included such tests of the accounting records and such other auditing pro-
cedures as we considered necessary in the circumstances.
In our opinion, the consolidated financial statements referred to above present fairly the financial position of Bridgestone
Corporation and subsidiaries as of December 31, 2002 and 2001, and the results of their operations and their cash flows
for the years then ended in conformity with accounting principles and practices generally accepted in Japan (“Japanese
GAAP”) applied on a consistent basis.
As discussed in Note 3, effective January 1, 2001, the consolidated financial statements have been prepared in accor-
dance with new accounting standards for employees’ retirement benefits and financial instruments and a revised accounting
standard for foreign currency transactions.
As discussed in Note 16 to the consolidated financial statements, certain subsidiaries in the Americas are involved in sig-
nificant legal matters related to tires which have been voluntarily recalled.
Our examinations comprehended the translation of Japanese yen amounts into U.S. dollar amounts and, in our opinion,
such translation has been made in conformity with the basis stated in Note 2. Such U.S. dollar amounts are presented solely
for the convenience of readers outside Japan.
Our examinations were made for the purpose of forming an opinion on the basic Japanese GAAP consolidated financial
statements taken as a whole. The supplemental information in Note 18 as to accounting differences between Japanese
GAAP and the accounting principles generally accepted in the United States of America is presented for purposes of addi-
tional analysis and is not a required part of the basic Japanese GAAP consolidated financial statements. This information
has been subjected to the auditing procedures applied in our examinations of the basic consolidated financial statements
and, in our opinion, is fairly stated in all material respects in relation to the basic Japanese GAAP consolidated financial
statements taken as a whole.
Tokyo, Japan
March 28, 2003, except for Note 17 paragraph 2, as to which the date is April 24, 2003
Independent Auditors’ Report
Tohmatsu & Co.
MS Shibaura Building
13-23, Shibaura 4-chome
Minato-ku, Tokyo 108-8530, Japan
Tel: [phone]
Fax: [phone]
www.tohmatsu.co.jp