Canon 2004 Annual Report Download - page 84

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82
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Stockholders of
Canon Inc.
We have audited the accompanying consolidated balance sheet of Canon Inc. and subsidiaries (the “Company”) as of
December 31, 2004, and the related consolidated statements of income, stockholders’ equity, and cash flows for the
year then ended, all expressed in Japanese 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 audit. The
consolidated balance sheet of Canon Inc. and subsidiaries as of December 31, 2003 and the related consolidated
statements of income, stockholders’ equity, and cash flows for each of the two years in the period ended December
31, 2003 were audited by other auditors whose report dated January 28, 2004 expressed a qualified opinion on those
statements with respect to the omission of segment information required to be disclosed in financial statements under
U.S. generally accepted accounting principles. Such disclosure is not required by certain foreign issuers in Securities
Exchange Act filings with the United States Securities and Exchange Commission.
We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United
States). 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 consideration of internal control over financial
reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose
of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly,
we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and
disclosures in the financial statements, assessing the accounting principles used and significant estimates made by
management, and evaluating the overall financial statement presentation. We believe that our audit provides a
reasonable basis for our opinion.
The segment information required to be disclosed in financial statements under U.S. generally accepted accounting
principles is not presented in the accompanying consolidated financial statements. Certain foreign issuers are presently
exempted from such disclosure requirement in Securities Exchange Act filings with the United States Securities and
Exchange Commission.
In our opinion, except for the omission of segment information as discussed in the preceding paragraph, the 2004
financial statements referred to above present fairly, in all material respects, the consolidated financial position of
Canon Inc. and subsidiaries at December 31, 2004, and the consolidated results of their operations and their cash
flows for the year then ended in conformity with U.S. generally accepted accounting principles.
We have also recomputed the translation of the consolidated financial statements as of and for the year ended
December 31, 2004 into United States dollars. In our opinion, the consolidated financial statements expressed in yen
have been translated into United States dollars on the basis described in Note 2.
January 27, 2005