Kenwood 2000 Annual Report Download - page 29

Independent Auditors' Report
Kenwood Corporation and Consolidated Subsidiaries
For the Years ended March 31, 2000, 1999 and 1998
To the Board of Directors and Shareholders of
Kenwood Corporation:
We have examined the consolidated balance sheets of Kenwood Corporation and consolidated subsidiaries as of March 31, 2000 and 1999, and
the related consolidated statements of operations, shareholders' equity, and cash flows for each of the three years in the period ended March
31, 2000, all expressed in Japanese yen. 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 procedures as we
considered necessary in the circumstances.
In our opinion, the consolidated financial statements referred to above present fairly the financial position of Kenwood Corporation and
consolidated subsidiaries as of March 31, 2000 and 1999, and the results of their operations and their cash flows for each of the three years in
the period ended March 31, 2000, in conformity with accounting principles and practices generally accepted in Japan applied on a consistent
basis.
As described in Note 1, effective April 1, 1999, the consolidated financial statements have been prepared in accordance with new accounting
standards for consolidated financial statements and interperiod allocation of income taxes.
Our examinations also 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 1. Such U.S. dollar amounts are presented solely for the convenience of readers
outside Japan.
KENWOOD Corporation Annual Report 2000
27
June 29, 2000