Pioneer 2010 Annual Report Download - page 53

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To the Board of Directors of
Pioneer Corporation:
We have audited the accompanying consolidated balance sheets of Pioneer Corporation and subsidiaries (the “Company”)
as of March 31, 2010 and 2009, and the related consolidated statements of operations, changes in equity, and cash flows for
the years then ended, 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 financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the
financial statements. An audit also includes assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall 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 Pioneer Corporation and subsidiaries as of March 31, 2010 and 2009, and the consolidated results of their
operations and their cash flows for the years then ended in conformity with accounting principles generally accepted in Japan.
Our audits 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.
June 17, 2010
Independent Auditors’ Report
51
PIONEER CORPORATION Annual Report 2010