Independent Auditors' Report
Showa Ota & Co.
CERTIFIED PUBLIC ACCOUNTANTS
To the Board of Directors
We have examined the consolidated balance sheets of Fujitsu Limited and
consolidated subsidiaries (the "Group") as of March 31, 1994 and 1995, and the
related consolidated statements of operations, shareholders' equity and cash
flows for each of the three years in the period ended March 31, 1995, expressed
in Japanese yen. Our examinations were made in accordance with auditing standards
generally accepted 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 aforementioned consolidated financial statements present
fairly the financial position of the Group at March 31, 1994 and 1995 and the
results of its operations and cash flows for each of the three years in the
period ended March 31, 1995, in conformity with accounting principles generally
accepted in Japan consistently applied during the period subsequent to the
change, with which we concur, made as of April 1, 1992, in the method of
accounting for income taxes as described in Note 1 to the consolidated financial
The U.S. dollar amounts in the accompanying consolidated financial statements
with respect to the year ended March 31, 1995 are presented solely for
convenience. Our examination also included the translation of yen amounts into
U.S. dollar amounts and, in our opinion, such translation has been made on the
basis described in Note 2 to the consolidated financial statements.
June 29, 1995
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