Toshiba 2001 Annual Report Download - page 63

Download and view the complete annual report

Please find page 63 of the 2001 Toshiba 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 68

  • 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

April 27, 2001
To the Board of Directors of
Toshiba Corporation
We have audited the accompanying consolidated balance sheets of Toshiba Corporation and its subsidiaries as of March
31, 2001 and 2000, and the related consolidated statements of income, shareholders’ equity and cash flows for the years
then ended, stated in yen. These financial statements are the responsibility of the Company’s management. Our responsi-
bility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those
standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial state-
ments 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.
The accompanying consolidated financial statements do not include segment information required to be disclosed in
accordance with Statement of Financial Accounting Standards (SFAS) No. 131, “Disclosures about Segments of an
Enterprise and Related Information.”
In our report dated April 28, 2000, we expressed an opinion that the consolidated financial statements present fairly, in all
material respects, the financial position of Toshiba Corporation and its subsidiaries at March 31, 2000 and 1999, and the
results of their operations and their cash flows for the years then ended, in conformity with accounting principles generally
accepted in the United States of America, except for the effects of the departure from SFAS No. 115, “Accounting for Certain
Investments in Debt and Equity Securities,” and the omission of segment information. As described in Notes 2 and 19, the
Company has applied SFAS No. 115 and restated its prior years’ consolidated financial statements. Accordingly, our pre-
sent opinion on the prior year’s consolidated financial statements, as presented herein, is different from that expressed in
our previous report.
In our opinion, except for the omission of segment information discussed in the third paragraph of this report, the consolidat-
ed financial statements audited by us present fairly, in all material respects, the financial position of Toshiba Corporation
and its subsidiaries at March 31, 2001 and 2000, and the results of their operations and their cash flows for the years then
ended in conformity with accounting principles generally accepted in the United States of America.
REPORT OF INDEPENDENT ACCOUNTANTS
61
PricewaterhouseCoopers
Kasumigaseki Bldg., 32nd Floor
3-2-5, Kasumigaseki, Chiyoda-ku
Tokyo 100-6088, Japan