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We have examined the non-consolidated
balance sheets of Yamato Transport Co., Ltd. as of March 31, 2002 and 2001,
and the related non-consolidated statements of operations and shareholders’
equity for each of the three years in the period ended March 31, 2002, 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, 2002 and 2001, and the results
of its operations for each of the three years in the period ended March
31, 2002, 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. |
