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The overseas sales by geographic area in 2009, 2008 and 2007 were as follows: Millions of yen 2009 North America Europe Asia Other areas Total I. Overseas sales ¥54,308 ¥91,994 ¥18,555 ¥2,016 ¥166,873 II. Consolidated sales 196,667 III. Ratio of overseas sales (%) 27.6% 46.8% 9.5% 1.0% 84.9% Millions of yen 2008 North America Europe Asia Other areas Total I. Overseas sales ¥90,824 ¥98,095 ¥27,439 ¥2,698 ¥219,056 II. Consolidated sales 252,072 III. Ratio of overseas sales (%) 36.0% 38.9% 10.9% 1.1% 86.9% Millions of yen 2007 North America Europe Asia Other areas Total I. Overseas sales ¥98,249 ¥103,574 ¥23,704 ¥2,852 ¥228,379 II. Consolidated sales 265,055 III. Ratio of overseas sales (%) 37.1% 39.1% 8.9% 1.1% 86.2% Thousands of U.S. dollars 2009 North America Europe Asia Other areas Total I. Overseas sales $552,866 $936,516 $188,894 $20,523 $1,698,799 II. Consolidated sales 2,002,107 III. Ratio of overseas sales (%) 27.6% 46.8% 9.5% 1.0% 84.9% Note: Sales in Asia were reported in other areas in the fiscal year ended March 31, 2007. In the fiscal year ended March 31, 2008, sales in Asia exceeded 10% of the Company’s total net sales and accordingly were reported as a separate geographic classification. For comparative purposes, net sales for the fiscal year ended March 31, 2007 has been restated according to the current geographic classifications. Overseas sales consist of export sales by the Company and sales by the overseas consolidated subsidiaries except for their export sales to Japan. 32
Independent Auditors’ Report To the Board of Directors of ALPINE ELECTRONICS, INC.: We have audited the accompanying consolidated balance sheets of ALPINE ELECTRONICS, INC. and consolidated subsidiaries as of March 31, 2009 and 2008, and the related consolidated statements of operations, changes in net assets and cash flows for each of the three years in the period ended March 31, 2009 expressed in Japanese yen. These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to independently express an opinion on these consolidated financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in Japan. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the consolidated financial position of ALPINE ELECTRONICS, INC. and consolidated subsidiaries as of March 31, 2009 and 2008, and the consolidated results of their operations and their cash flows for each of the three years in the period ended March 31, 2009, in conformity with accounting principles generally accepted in Japan. Without qualifying our opinion, we draw attention to the following: As discussed in Note2(6) to the consolidated financial statements, effective from the year ended March 31, 2009, ALPINE ELECTRONICS, INC. and domestic consolidated subsidiaries adopted new accounting standard, “Accounting Standard for Measurement of Inventories”. The U.S. dollar amounts in the accompanying consolidated financial statements with respect to the year ended March 31, 2009 are presented solely for convenience. Our audit 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 1 to the consolidated financial statements. Tokyo, Japan June 16, 2009 33
Page 1 and 2: Annual Report 2009 For the year end
Page 3 and 4: Consolidated Financial Highlights Y
Page 5 and 6: Plans for the Future Implementing C
Page 7 and 8: Global Topics Alpine Introduces the
Page 9 and 10: Financial Section Financial Highlig
Page 11 and 12: Millions of Yen, unless stated othe
Page 13 and 14: products. As a result of the above
Page 15 and 16: Thousands of U.S. Millions of Yen D
Page 17 and 18: ALPINE ELECTRONICS, INC. Consolidat
Page 19 and 20: ALPINE ELECTRONICS, INC. Notes to C
Page 21 and 22: determined based on the amounts act
Page 23 and 24: 4. Inventories Inventories at March
Page 25 and 26: 8. Net assets The Japanese Corporat
Page 27 and 28: 10. Derivative Financial Instrument
Page 29 and 30: 12. Segment Information The Compani
Page 31: Millions of yen Elimination 2007 Ja
Page 35 and 36: Global Network ● ● ●● ●

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