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63
The Board of Directors and Shareholders of
Toshiba Corporation
We have audited the accompanying consolidated balance sheets of Toshiba Corporation and subsidiaries (the
“Group“) as of March 31, 2011 and 2010, and the related consolidated statements of income, equity, and cash flows
for the years then ended, all expressed in Japanese yen. These consolidated financial statements are the
responsibility of the Group’s management. Our responsibility 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. 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 financial statements referred to above present fairly, in all material respects, the consolidated
financial position of Toshiba Corporation and subsidiaries at March 31, 2011 and 2010, and the consolidated results
of their operations and their cash flows for the years then ended, in conformity with U.S. generally accepted
accounting principles.
We also have reviewed the translation of the consolidated financial statements mentioned above into United States
dollars on the basis described in Note 3. In our opinion, such statements have been translated on such basis.
June 22, 2011
Report of Independent Auditors