Sony 2003 Annual Report Download - page 231

Consolidated Financial Information 2003
Report of Independent Accountants
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, cash flows and changes in stockholders’ equity present fairly, in all material respects, the financial
position of Sony Corporation and its consolidated subsidiaries at March 31, 2002 and 2003, and the results of
their operations and their cash flows for each of the three years in the period ended March 31, 2003, 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 auditing standards generally accepted in the United States of America 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 accounting principles used and significant estimates made by
management, and evaluating the overall financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
As discussed in Note 2 to the consolidated financial statements, the Company changed its method of film
accounting in the year ended March 31, 2001, and its methods of accounting for derivative instruments and
hedging activities and for goodwill and other intangible assets in the year ended March 31, 2002.
May 21, 2003
Kasumigaseki Bldg., 32nd Floor
3-2-5, Kasumigaseki, Chiyoda-ku
Tokyo 100-6088, Japan