Panasonic Manufacturing Philippines Corporation and Subsidiary Consolidated Financial Statements March 31, 2011 and 2010 and Years Ended March 31, 2011, 2010 and 2009 and Independent Auditors’ Report
SyCip Gorres Velayo & Co.
2 3 0 2 2
SEC Registration Number
P A N A S O N I C E S
M A N U F A C T U R I N G A N D
P H I L I P P I N
C O R P O R A T I O N
S U B S I D I A R Y
(Company’s Full Name)
O r t i g a s R i z a l
A v e n u e
E x t e n s i o n ,
T a y t a y ,
(Business Address: No. Street City/Town/Province)
Mr. Marlon M. Molano
635-2260 to 65
(Company Telephone Number)
A A F S
(Secondary License Type, If Applicable)
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Amended Articles Number/Section Total Amount of Borrowings
Total No. of Stockholders To be accomplished by SEC Personnel concerned
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SyC ip Go rres Velayo & C o. 6760 Ayala Avenue 1226 Makati C ity Philippines Phone: (632) 891 0307 Fax: (632) 819 0872 ww w.sgv.com.ph BOA/PR C R eg. N o. 0001 SEC Accreditation N o. 0012-FR-2
INDEPENDENT AUDITORS’ REPORT
The Stockholders and the Board of Directors Panasonic Manufacturing Philippines Corporation Ortigas Avenue Extension Taytay, Rizal
We have audited the accompanying consolidated financial statements of Panasonic Manufacturing Philippines Corporation and its Subsidiary, which comprise the consolidated statements of financial position as at March 31, 2011 and 2010, and the consolidated statements of comprehensive income, statements of changes in equity and statements of cash flows for each of the three years in the period ended March 31, 2011, and a summary of significant accounting policies and other explanatory information. Management’s Responsibility for the Consolidated Financial Statements Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with Philippine Financial Reporting Standards, and for such internal control as management determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. Auditors’ Responsibility Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We conducted our audits in accordance with Philippine Standards on Auditing. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
A member firm of Ernst & Young Global Limited
Opinion In our opinion, the consolidated...
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