Sony 1997 Annual Report Download - page 64

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62
Report of Independent Accountants
May 6, 1997
To the Stockholders and Board of Directors of
Sony Corporation (Sony Kabushiki Kaisha)
In our opinion, the accompanying consolidated balance sheets and the related consolidated statements of
income and retained earnings and of cash flows present fairly, in all material respects, the financial position
of Sony Corporation and its consolidated subsidiaries at March 31, 1996 and 1997, and the results of their
operations and their cash flows for each of the three years in the period ended March 31, 1997, in conformity
with accounting principles generally accepted in the United States of America. These financial statements are
the responsibility of the company’s management; our responsibility is to express an opinion on these financial
statements based on our audits. We conducted our audits of these statements in accordance with generally
accepted auditing standards which 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, assessing the account-
ing principles used and significant estimates made by management, and evaluating the overall financial state-
ment presentation. We believe that our audits provide a reasonable basis for the opinion expressed above.
As discussed in Note 4 to the consolidated financial statements, the company changed its method of
accounting for assessing the carrying values of its investments in acquired businesses including goodwill in
the year ended March 31, 1995.