Epson 2006 Annual Report Download - page 76

Download and view the complete annual report

Please find page 76 of the 2006 Epson annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 78

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78

Seiko Epson Annual Report 2006
74
To the Board of Directors of
Seiko Epson Corporation
We have audited the accompanying consolidated balance sheets of Seiko Epson Corporation and its consolidated subsidiaries as of
March 31, 2005 and 2006, and the related consolidated statements of income, changes in shareholders’ equity, and cash flows for each
of the three years in the period ended March 31, 2006, all expressed in Japanese yen. These consolidated financial statements are the
responsibility of the Company’s management. Our responsibility is to express an opinion on these consolidated financial 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 consolidated financial statements are free of material misstatement.
An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the consolidated financial statements. An
audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the
overall consolidated 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 Seiko Epson Corporation and its consolidated subsidiaries as of March 31, 2005 and 2006, and the consolidated results of their
operations and cash flows for each of the three years in the period ended March 31, 2006 in conformity with accounting principles generally
accepted in Japan.
As discussed in Note 2 (8), effective as of March 31, 2004, Seiko Epson Corporation and its consolidated subsidiaries have adopted new
Japanese accounting standards for impairment of fixed assets.
The amounts expressed in U.S. dollars, which are provided solely for the convenience of the reader, have been translated on the basis
set forth in Note 3 to the accompanying consolidated financial statements.
Tokyo, Japan
June 23, 2006
Report of Independent Auditors