Sony 1999 Annual Report Download - page 79

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77
page
Sony Corporation Annual Report 1999
June 1, 1999
To the Board of Directors of
Sony Corporation (Sony Kabushiki Kaisha)
We have examined Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”)
of Sony Corporation and its consolidated subsidiaries (collectively as “Sony”) taken as a whole, included in pages 29
through 42 of Sony’s Annual Report to stockholders for the year ended March 31, 1999. Management is responsible
for the preparation of Sony’s MD&A pursuant to the rules and regulations adopted by the Securities and Exchange
Commission. Our responsibility is to express an opinion on the presentation based on our examination. We have
audited, in accordance with generally accepted auditing standards in the United States of America, the consolidated
financial statements of Sony as of March 31, 1998 and 1999, and for each of the years in the three-year period ended
March 31, 1999, and in our report dated April 26, 1999, we expressed an unqualified opinion on those consolidated
financial statements.
Our examination of MD&A was made in accordance with attestation standards established by the American
Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence supporting
the historical amounts and disclosures in the presentation. An examination also includes assessing the significant
determinations made by management as to the relevancy of information to be included and the estimates and
assumptions that affect reported information. We believe that our examination provides a reasonable basis for our
opinion.
The preparation of MD&A requires management to interpret the criteria, make determinations as to the
relevancy of information to be included, and make estimates and assumptions that affect reported information.
MD&A includes information regarding the estimated future impact of transactions and events that have occurred or
are expected to occur, expected sources of liquidity and capital resources, operating trends, commitments, and
uncertainties. Actual results in the future may differ materially from management’s present assessment of this
information because events and circumstances frequently do not occur as expected.
In our opinion, Sony’s presentation of MD&A includes, in all material respects, the required elements of the
rules and regulations adopted by the Securities and Exchange Commission; the historical financial amounts included
therein have been accurately derived, in all material respects, from Sony’s consolidated financial statements; and
the underlying information, determinations, estimates, and assumptions of Sony provide a reasonable basis for the
disclosures contained therein.
Yebisu Garden Place Tower Telephone 03-5424-8100
20-3, Ebisu 4-chome
Shibuya-ku, Tokyo 150-6013