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We have examined the consolidated
balance sheets of Yamato Transport Co., Ltd. and consolidated subsidiaries
as of March 31, 2001 and 2000, and the related consolidated statements of
operations, shareholders’ equity, and cash flows for the years then
ended, 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 consolidated financial statements
referred to above present fairly the financial position of Yamato Transport
Co., Ltd. and consolidated subsidiaries as of March 31, 2001 and 2000, and
the results of their operations and their cash flows for the years then
ended 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 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. |
