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We have examined the non-consolidated
balance sheets of Yamato Transport Co., Ltd. as of March 31, 2001 and 2000,
and the related non-consolidated statements of operations and shareholders’
equity for each of the three years in the period ended March 31, 2001, all
expressed in Japanese yen. Our examinations were made in accordance with
auditing standards, procedures and practices generally accepted and applied
in Japan and, accordingly, included such tests of the accounting records
and such other auditing procedures as we considered necessary in the circumstances.
In our opinion, the non-consolidated financial statements
referred to above present fairly the financial position of Yamato Transport
Co., Ltd. as of March 31, 2001 and 2000, and the results of its operations
for each of the three years in the period ended March 31, 2001, in conformity
with accounting principles and practices generally accepted in Japan applied
on a consistent basis.
As discussed in Note 2, effective April 1, 2000, the non-consolidated financial
statements have been prepared in accordance with new accounting standards
for employees’ retirement benefits and financial instruments and a
revised accounting standard for foreign currency transactions.
Our examinations also comprehended the translation of
Japanese yen amounts into U.S. dollar amounts and, in our opinion, such
translation has been made in conformity with the basis stated in Note 1.
Such U.S. dollar amounts are presented solely for the convenience of readers
outside Japan. |
