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MITSUBISHI MOTORS CORPORATION Annual Report 2001 [65]
Report of Independent Certified Public Accountants
The Board of Directors
Mitsubishi Motors Corporation
We have audited the consolidated balance sheets of Mitsubishi Motors Corporation and consolidated
subsidiaries as of March 31, 2001 and 2000, and the related consolidated statements of operations,
stockholders’ equity, and cash flows for the years then ended, expressed in yen. Our audits 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 accompanying consolidated financial statements, expressed in yen, present fairly
the consolidated financial position of Mitsubishi Motors Corporation and consolidated subsidiaries at
March 31, 2001 and 2000, and the consolidated results of their operations and their cash flows for the
years then ended in conformity with accounting principles and practices generally accepted in Japan
consistently applied during the period subsequent to the change, with which we concur, made as of
April 1, 1999, in the method of accounting for severance payments to directors and corporate
auditors as described in Note 2.
As described in Note 3, Mitsubishi Motors Corporation and consolidated subsidiaries have adopted
new accounting standards for tax-effect accounting effective the year ended March 31, 2000 and for
employees’ retirement benefits, financial instruments and foreign currency translations effective the
year ended March 31, 2001 in the preparation of their consolidated financial statements.
The U.S. dollar amounts in the accompanying consolidated financial statements with respect to the
year ended March 31, 2001 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 4.
Tokyo, Japan
June 26, 2001
See Note 1(a) which explains the basis of preparation of the consolidated financial statements of Mitsubishi
Motors Corporation and consolidated subsidiaries under Japanese accounting principles and practices.
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS