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Independent Auditors’ Report
Sharp Annual Report 2004 47
To the Board of Directors of Sharp Corporation:
We have audited the accompanying consolidated balance sheets of Sharp Corporation (a Japanese corporation) and its
consolidated subsidiaries as of March 31, 2003 and 2004, and the related consolidated statements of income,
shareholders’ 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 independently 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 Sharp Corporation and its consolidated subsidiaries as of March 31, 2003 and 2004,
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.
The U.S. dollar amounts in the accompanying consolidated financial statements with respect to the year ended March
31, 2004 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 1(a) to the consolidated
financial statements.
Osaka, Japan
June 24, 2004