Sustainability Report 2023

Contents

Yamaha Group Sustainability

Yamaha Group Sustainability

E: Environment

03

S: Social

G: GovernanceParticipation in Initiatives

S: Social

35

External Recognition

Editorial Policy

G: Governance84

03 Yamaha Group Sustainability Policy

35 Human Rights

84 Corporate Governance

04 Sustainability Management

38 Promotion of Diversity, Equity, and Inclusion

90 Risk Management

06 Material Issues

44 Human Resources Development

94 Compliance

09 Engagement with Stakeholders

46 Promotion of Work-Life Balance

97 Fair Operating Practices

49 Communication between Labor and Management

98 Yamaha Group Tax Compliance

51 Employee Health and Safety

99 Information Security and Personal Information
Protection

E: Environment
10 Environmental Management
12 Response to Climate Change
22 Sustainable Resource Use
25 Prevention of Pollution and Chemical
Substance Management
28 Environmentally Friendly Products
and Services
31 Protection of Biodiversity

Yamaha Sustainability Report 2023

10

58 Promotion of Social Responsibility
in the Value Chain

100 Dialogue with Shareholders and Investors

61 Safety and Quality of Products and Services
64 Improvement of Customer Satisfaction
72 Intellectual Property
74 Contribution to Regional Community Development

Participation in Initiatives

102

External Recognition

103

Editorial Policy

106

02

Contents

Yamaha Group Sustainability

Yamaha Group Sustainability Policy

E: Environment

Sustainability Management

S: Social

G: GovernanceMaterial Issues

Participation in Initiatives

External Recognition

Editorial Policy

Engagement with Stakeholders

Yamaha Group Sustainability
Well-being of people around the world

Purpose.

Throughout its long history, the Yamaha Group has madevarious efforts to promote people’s "well-being," while remaining
conscious of its connection with nature, society and culture.
Our products, made of timber and other natural materials andcarefully finished by skilled craftspeople, have been handed downfrom generation to generation and, with some products being
given new life through renewal, loved by many people. In addition
to simply selling products, we have also contributed to promoting
the spread and development of music culture in various countries
and regions around the world as our own business. These
activities range from the spread of instrumental music education
for children and the development of music schools to the supportof top artists. These ideas and initiatives are in line with social
sustainability and have been passed down through the company's
more than 130-year history, shaping the "distinctive brand identityof Yamaha."

Earth

Yamaha Sustainability Report 2023

Society.

What we protect
and develop

People.

Equal society andcomfortable lives

Precious global environment

.

.

.

.

Music culture toenrich people's
hearts and minds

Diversity and mutual respect.

.

Earth is a miracle planet. Humankind hastaken this environment for granted, treatedit carelessly, and even destroyed it. We willtake a role to stop this environmental
destruction as a company and hand down
the precious global environment to the
future. In particular, we will actively work to
reduce CO2 emissions, which is a global
issue, and to conserve and effectively use
timber and other resources.

Yamaha Group Sustainability Policy
The Yamaha Group aims to create a society that realizes thewell-being of all people around the world. To achieve this goal,
we will work to protect our one precious earth and contribute to
the development of an equal society, comfortable lives, and amusic culture that enriches people's hearts and minds, with our
corporate philosophy of "Yamaha Philosophy" as the foundation
to draw from. At the same time, we will not only respect forhuman rights but also create an environment in which diverse
human resources can respect each other and actively play a role.
Through these initiatives, we will continue to create excitement
and cultural inspiration together with people around the world.
Based on this concept, we have identified materiality and will
actively promote sustainability activities to enhance our mediumto-long-term corporate value through the creation of social value
by working toward the realization of a sustainable society.

.

.

We hope to realize an equal society andcomfortable lives for all people. We willcontribute to regional communities andsociety through our accumulated technologies
and expertise to address various social issues
as well as efforts that only we could do.
Furthermore, the power of music that enriches
people’s hearts and minds is irreplaceable forsmiles and well-being of people around theworld. We will drive the development of music
culture through the supply of products ofvarious genres and music promotion activities.

Great vitality is generated by mutual
respect among diverse human resources,
inspiring and collaborating with each other.
This vitality is the key to create social
values and improving corporate value.
In addition to respecting the human rights
of all people, we will maximize the vitality ofthe people who work with Yamaha bycreating an environment and climate inwhich diverse human resources respect
each other and can play active roles.
.

.

Response to climate change.

Contribution to an equal society andcomfortable lives

Increase job satisfaction

Respect for human rights in thevalue chain

Respect for human rights and DE&I

Spread and development of music
cultureFoster open organizational culture
where people can proactively takeon challenges.

.

Materiality.

Sustainable use of timber

.

.

.

Resource savings, reduction ofwaste and hazardous substances

.

.

.

Formulated in February 2010 and last revised in April 2022

03

Contents

Yamaha Group Sustainability

Yamaha Group Sustainability Policy

E: Environment

Sustainability Management

Sustainability Management
Sustainability Initiatives
The Yamaha Group is advancing initiatives for contributing to
the realization of a sustainable society in accordance with the
Yamaha Group Sustainability Policy. This policy was formulated
based on the Group’s material sustainability issues, which wereshaped by the relationship between its business activities and theenvironment and society as well as on stakeholder expectations
and social demands. We thereby aim to contribute to the wellbeing of people around the world.
Yamaha Group Sustainability Policy >Material Issues >Engagement with Stakeholders >Participation in Initiatives >Promotion System
Under the guidance of the Board of Directors, Yamaha Corporation
established the Sustainability Committee as an advisory body tothe president. This committee is tasked with discussing directives
for Groupwide sustainability initiatives, monitoring Groupinitiatives, and reporting to the president on these matters.

S: Social

Material Issues

G: GovernanceParticipation in Initiatives

Editorial Policy

Engagement with Stakeholders(TCFD) recommendations, water risk response measures, etc.
Working Group for Resource Circulation: Circular value chains,eco-friendly product designs and packaging, etc.

part in a discussion session with members of the Sustainability
Committee and the associated working groups, which featured
a lecture by Mr. Tomita as well as a Q&A session and an
exchange of opinions regarding the challenges faced in Yamaha’s
sustainability initiatives.

Working Group for Procurement: Timber due diligence,sustainable timber procurement, Tone Forest activities, supply
chain human rights due diligence, response to conflict minerals,etc.
Working Group for Human Rights, DE&I: Human rights due
diligence, promotion of diversity, equity, and inclusion (DE&I), etc.
Working Group for Social and Cultural Contributions:
Popularization of music, community outreach,
etc.
Reports on discussions by the Sustainability
Committee and relevant initiatives within theGroup are regularly submitted to the Board of
Directors for review.

Fiscal 2023 Sustainability
Committee Meetings

Five working groups—the Working Group for Climate Change,
Working Group for Resource Circulation, Working Group for
Procurement, Working Group for Human Rights, DE&I, andWorking Group for Social and Cultural Contributions—have been
formed under the Sustainability Committee. The working groups
establish frameworks for advancing initiatives based on thefollowing important Group themes; formulate policies, targets,measures, and activity plans; advance and monitor activities; andsubmit reports on these matters to the Sustainability Committee.

Meetings: 6
Major agenda items:• Review of sustainability initiatives under theprevious medium-term management plan
• Disclosure based on TCFD recommendations• Progress and challenges of sustainability
initiatives under the current medium-term
management plan
• Discussion session with an external expert

Working Group for Climate Change: Decarbonization, disclosure
based on Task Force on Climate-related Financial Disclosures

Hidemi Tomita, representative director of LRQA
Sustainability Co., Ltd., was invited to take

Yamaha Sustainability Report 2023

External Recognition

Sustainability Promotion System

04

Contents

Yamaha Group Sustainability

Yamaha Group Sustainability Policy

E: Environment

Sustainability Management

Connection between Officer Compensation
In conjunction with the start of the Make Waves 2.0 medium-term
management plan in April 2022, non-financial targets centeredon sustainability-related indicators were introduced among theevaluation indicators for the performance-linked bonuses paid
to officers in order to strengthen motivation to pursue ongoing
improvements in social value.

S: Social

Material Issues

G: GovernanceParticipation in Initiatives

Editorial Policy

Engagement with Stakeholders

Material Sustainability Issues
The Yamaha Group has defined material sustainability issues forcontributing to sustainable development and medium- to longterm improvements in corporate value based on the relationshipbetween its business activities and the environment and society
as well as on stakeholder expectations and social demands.
Initiatives for addressing these issues are currently underway.

Identified Material Sustainability Issues

Non-Financial Targets

External Recognition

Environment
Response to climate change• Reduction of CO2 emissions from business sites (Scope 1 +Scope 2)
• Reduction of CO2 emissions from procurement, logistics, andproduct use (Scope 3)

Sustainable use of timber• Sustainable sourcing and utilization of timber• Promotion of forest cultivation
Resource savings, reduction of waste and hazardous substances• Resource savings and improved resource recycling of products
and packaging• Reduction of hazardous chemical substances (VOCs, etc.)

Society
Contribution to an equal society and comfortable lives• Mental and physical safety and health• Remote communication• Consideration for universal design and accessibility
Respect for human rights in the value chain• Increase the level of supplier human rights due diligence

CultureSpread and development of music culture• Products, services, and activities that contribute to thepromotion and development of music culture• Contribution to the development of the next generation
Human Resources
Increase job satisfaction• Human resource development, etc.
Respect for human rights and DE&I (diversity, equity, and inclusion)• Initiatives to respect the human rights of people who work with
Yamaha (Human rights education and due diligence)• DE&I promotion (gender, nationality, etc.)
Foster open organizational culture where people canproactively take on challenges• Employee engagement surveys; creation of opportunities for
dialogue; promotion of work-life balance, safety, and health; etc.
For more details, please refer to the following website.
Material Issues >Yamaha Sustainability Report 2023

05

Contents

Yamaha Group Sustainability

Yamaha Group Sustainability Policy

E: Environment

Sustainability Management

Material Issue Identification Process
Sustainability issues pertaining to the Yamaha Group’s value chain
were identified with reference to the United Nations Sustainable
Development Goals (SDGs). The level of priority of these issues
was then assessed based on input from customers, employees,
and community members; environmental, social, and governance(ESG) evaluation criteria; opinions and requests from NGOs;
advice from external experts; our corporate philosophy and vision;and medium- to long-term management policies. We thereby
identified the material issues requiring an enhanced approach. In
fiscal 2022, we revised our material sustainability issues.
Key performance indicators (KPIs) for gauging the progress ofmeasures related to the identified material sustainability issues
by the Sustainability Committee working groups and relative
divisions was established along with related targets and actionplans. The Sustainability Committee is responsible for monitoring
the progress of initiatives pertaining to material issues.

S: Social

Material Issues

G: GovernanceParticipation in Initiatives

Dr. Naoki Adachi, CEO of Response Ability, Inc., was invited tohold an online seminar for all employees in March 2023. At thisseminar, Dr. Adachi spoke about important sustainability subjects
such as climate change, biodiversity, and resource issues.

Material Issues
The Yamaha Group reflects priority sustainability initiatives forcontributing to social sustainability and medium- to long-term
improvements to corporate value into its sustainability initiatives,and advances and manages activities on these policies. In
fiscal 2022, we reassessed our prior sustainability priorities to
identify nine material issues. A revision to the Yamaha Group
Sustainability Policy was instituted in April 2022 based on thesematerial issues, and this policy is guiding sustainability initiatives.

Identified Material Sustainability Issues
Environment
Internal sustainability information site

Awareness Raising

Yamaha Sustainability Report 2023

Editorial Policy

Engagement with Stakeholders

Details regarding the identification process are as follows.
Material Issues >At the Yamaha Group, new employees are promoting sustainability
in their respective roles and jobs in order to contribute to therealization of a sustainable society. In addition, sustainability
education and awareness-raising elements are being incorporated
into the rank- and field-based training and seminars, intranet
postings, internal events, and Company newsletters. We also
provide a range of content for learning about external trends,
including sustainability quizzes that offer an easy way to study
sustainability and the SDGs as well as case studies designed
to help employees learn from examples of companies on theforefront of sustainability. Furthermore, seeking to foster a more
fundamental understanding of sustainability among employees,

External Recognition

Response to climate change• Reduction of CO2 emissions from business sites (Scope 1 +Scope 2)
• Reduction of CO2 emissions from procurement, logistics, andproduct use (Scope 3)
Sustainable use of timber• Sustainable sourcing and utilization of timber• Promotion of forest cultivation
Resource savings, reduction of waste and hazardous
substances• Resource savings and improved resource recycling of products
and packaging• Reduction of hazardous chemical substances (VOCs, etc.)

Society
Sustainability training for new employees

Contribution to an equal society and comfortable lives• Mental and physical safety and health• Remote communication• Consideration for universal design and accessibility
Respect for human rights in the value chain• Increase the level of supplier human rights due diligence06

Contents

Yamaha Group Sustainability

Yamaha Group Sustainability Policy

E: Environment

Sustainability Management

CultureS: Social

G: GovernanceMaterial Issues

Participation in Initiatives

External Recognition

Editorial Policy

Engagement with Stakeholders

Material Sustainability Issues, KPIs, and Targets

Spread and development of music culture• Products, services, and activities that contribute to thepromotion and development of music culture• Contribution to the development of the next generation

Major Sustainability KPIs and Targets of Make Waves 2.0 and Progress in Fiscal 2023
Category
Environment

Material issues

Progress in fiscal 2023

Evaluation

Promoted energy conservation measures including
installation of electricity monitoring systems, regardlessof reduction in electricity efficiency amid the COVID-19
pandemic△

Maintain inclusion on CDP Climate Change A List

Received A- climate change rank from CDP△

Improve logistics packing efficiency by 5%

Established collective packing standards that included
provisions concerning container packing rates〇

Increase rate of sustainable timber use to 75%
Management target

Expanded certified timber use and formulated in-housestandards for sustainable timber△

Cultivate and preserve three scarce tree species necessary formusical instrument production (Tone Forest activities)

Planted 15,000 African blackwood in Tanzania andconducted local Indian rosewood surveys in India〇

Resource savings, reductionof waste and hazardous
substances

Eliminate plastic packaging used for newly launching small Developed systems for collecting information andproducts
determining specifications and eliminated plastic
packaging from certain products△

Contribution to an equal
society and comfortable
lives

Install Listening Care function for reducing burden on ears
by delivering high-quality sound at low volumes into all
new headphones and earphones

Installed Listening Care function into all new wirelessheadphones and earphones〇

Respect for human rights inthe value chain

Conduct on-site audits of suppliers (60 companies)

Selected auditing institution to conduct on-site
audits△Spread and development ofmusic culture

Promote instrumental music education at schools inemerging countries (School Project); provide instrumental
music education opportunities to aggregate total of 2.3
million children in 10 countries Management target

Provided instrumental music education opportunities toaggregate total of 2,025,000 children in seven countries
through the School Project◎Increase number of students enrolled at overseas music
school by 100,000

Increased number of students enrolled at overseas music
school by 17,000, despite challenges in recruiting students
and expanding locations due to impacts of the COVID-19
pandemic in China, etc.

Continue improving ratio of employees offering positive
responses regarding motivation on employee engagement
surveys Management target

Moved forward with development of systems andframeworks

Double human resources investment

Prepared for the introduction of a talent management
system and formulated new education and learning
systems△

Achieve global ratio of female managers of 19%

Raised global ratio of female managers to 17.3% andadministered unconscious bias training to 6,100 individuals〇

Undertake cross-border positioning of 30 individuals

Conducted cross-border positioning of two individuals andestablished international relocation rules△

Continue improving ratio of employees offering positive
responses regarding workplace comfort on employee
engagement surveys
Management target

Achieved inclusion in the Health & Productivity Stock
Selection for second consecutive year and made progressin improving workplace environment△

Response to climate change

Human Resources
Increase job satisfaction• Human resource development, etc.
Respect for human rights and DE&I (diversity, equity, andinclusion)• Initiatives to respect the human rights of people who work with
Yamaha (Human rights education and due diligence)• DE&I promotion (gender, nationality, etc.)
Foster open organizational culture where people canproactively take on challenges• Employee engagement surveys; creation of opportunities for
dialogue; promotion of work-life balance, safety, and health; etc.
Yamaha Group Sustainability Policy >KPIs and targets for fiscal 2025 (Make Waves 2.0
medium-term management plan)
Reduce CO2 emissions by 5% through energy conservation(CO2 emissions / production volume)
Management target

Sustainable use of timberSociety

CultureHuman
resources

Increase job satisfaction

Legend◎ Progress surpassing plans〇 Progress in line with plans△ Delayed progress in comparison to plans
× No progress

Sustainability KPIs and Targets of the Make Waves
2.0 Medium-Term Management Plan (Fiscal 20232025) and Fiscal 2023 Performance >Yamaha Sustainability Report 2023

Respect for human rights andDE&I(diversity, equity, andinclusion)

Foster open organizational
culture where people
can proactively take onchallenges

Management target

△

△

07

Contents

Yamaha Group Sustainability

Yamaha Group Sustainability Policy

E: Environment

Sustainability Management

Material Issue Identification Process
1.Identification of Important Stakeholder Groups
Important stakeholder groups were identified to limit the scopeof social issues to be assessed and guide priority assessments ofsocial issues.
Engagement with Stakeholders >2.Limiting of Scope of Social Issues to Be Assessed
A list of 114 issues was prepared based on the targets of theUnited Nations Sustainable Development Goals (SDGs) andon global risk reports, global risks, and other risks. Redundantissues and issues deemed to be of low materiality to Yamaha andto the stakeholder groups identified in Step 1 were excluded forthe list. Then, certain social issues were divided into risks andopportunities and social issues unique to the Yamaha Group
were added to make for a list of a total of 64 social issues to beassessed.

S: Social

Material Issues

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Engagement with Stakeholders

and governance (ESG) evaluation criteria (of FTSE Russell, MSCI,
and other institutions).

4.Identification of Material Issues
Social issues deemed to be of high materiality based on the
mapping in Step 3 were grouped to make nine material issues,
which were then further categorized and organized into the areasof environment, society, culture, and human resources.

5.Approval
The identified material issues were discussed by the Sustainability
Committee, which is chaired by the president, and then approvedby the Board of Directors.

3.Assessment of Materiality of Social Issues
The 64 social issues identified in Step 2 were divided into risks
and opportunities and mapped based on materiality assessments
conducted based on the perspectives described under (1) and (2)below.
(1) Business Perspective (Materiality to Yamaha)
A cross-Company assessment team of 35 individuals wasassembled to score the materiality of the identified social
issues from the perspectives of profits, losses, costs, reputation,compliance, corporate ethics, and management and business
continuity.
(2) Stakeholder Perspective (Materiality to Stakeholders)Customer input, employee surveys, and other methods wereused to identify the needs and opinions of the stakeholder
groups identified in Step 1. The materiality of the identifiedsocial issues was then scored based on this information, therequirements of industry initiatives, and environmental, social,

Yamaha Sustainability Report 2023

08

Contents

Yamaha Group Sustainability

Yamaha Group Sustainability Policy

E: Environment

Sustainability Management

Engagement with Stakeholders
Based on its Promises to Stakeholders, the Yamaha Group createsvarious opportunities to engage in dialogue with its stakeholders
to learn about their opinions and desires and then reflects this
input in its corporate activities.

S: Social

G: GovernanceMaterial Issues

Engagement with Stakeholders

Major Responsibilities

Daily Means of Communication

Examples of Initiatives

Customers

Offer valuable products and services
that are safe and offer peace ofmind, promote universal design,
supply accurate product information,
provide customers with appropriate
service and support, store customer
information appropriately

Product and service helpdesks (telephone,email, etc.), daily sales activities

Safety and Quality of Products and Services >Evaluate and treat people fairly,
respect human rights and diversity,
utilize and train personnel, support
a wide range of workstyles, ensure
health and safety

Survey questionnaires (motivation,
workplace comfort, and management),labor-management meetings anddiscussions

Communication between Labor and

Employees

Improvement of Customer Satisfaction >Management >Respect for Human Rights >Promotion of Diversity, Equity, and Inclusion >Human Resources Development >Promotion of Work-Life Balance >Employee Health and Safety >Business Partners

Select business partners based on
Daily business activities, production
fair and rational standards, engage in and sales trend briefing sessions, policy
fair transactions, eliminate dubious
explanation meetingsbusiness relationships, prohibit abusesof power

Promotion of Social Responsibility in the

Coexist with communities andcontribute to their development(including promoting culture, training
the next generation, promoting welfare,creating employment, and developing
skills and technology)

Information exchange sessions with local
communities and municipalities, factory
tours, employee involvement in community
activities, exchange of information anddialogue with communities and NPOs/
NGOs

Communication with Local Communities >Environment

Prevent pollution, combat climatechange, preserve natural resources,
manage and reduce the use ofchemical substances, protect
biodiversity

Exchange of information and dialogue with
communities and NPOs/NGOs

The Environment >Shareholders

Disclose accurate management
information in a timely manner,
distribute profit appropriately, improve
corporate value

General shareholders’ meetings, explanatory Communication with Shareholders andmeetings for investors, investor website and Investors >email newsletters

Communities andGreater Society

Yamaha Sustainability Report 2023

Editorial Policy

Stakeholder

The Company has been participating in the Stakeholder
Engagement Program of Caux Round Table Japan since fiscal
2020. Through the program, input on potential issues is received
from NPOs, NGOs, and experts as part of the process ofidentifying important, industry-specific human rights issues.
Stakeholder Engagement Program (Caux Round Table Japan) (inJapanese only) >2022 Final Report >External Recognition

Initiatives Targeting Specific Stakeholder Groups

Promises to Stakeholders >Stakeholder Engagement Program

Participation in Initiatives

Value Chain >Contribution to Regional Community
Development >09

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: Governance

Environmental Management
Response to Climate Change
Sustainable Resource Use
Environmentally Friendly Products and Services
Protection of Biodiversity

Participation in Initiatives

External Recognition

Editorial Policy

Prevention of Pollution and Chemical Substance Management

E: Environment
Recognizing environmental issues as important management
issues, the Yamaha Group is committed to continuing its
contribution to the realization of a better global environment
based on its Yamaha Group Environmental Policy.
Yamaha is engaged in initiatives through its business activities,
products, and services to respond to shared global issues,
such as climate change, biodiversity, and the promotion ofrecycling-oriented society. At the same time, Yamaha is involvedin environmental conservation activities, such as the reductionof emissions of chemical substances, prevention of leakingof hazardous materials, the appropriate use of timber, forest
preservation, and other activities that contribute to preserving theenvironment.

Environmental Management
Environmental Policy
The Yamaha Group recognizes that a healthy global environmentis imperative to the continuity of its business activities andthe sustainability of society. Accordingly, we have establishedthe Yamaha Group Environmental Policy, which defines theenvironmental issues that the Group should prioritize anddescribes the approach to be taken in addressing these issues.
Initiatives based on this policy are incorporated into our mediumterm management plan and into the action plan of individual
divisions to guide concrete action.
The Yamaha Group Environmental Policy is approved by thepresident following discussion by the Managing Council of
Yamaha Corporation.
Yamaha Group Environmental Policy >Yamaha Sustainability Report 2023

Environmental Management Systems
The Yamaha Group has created a system for promoting global
environmental preservation activities that is overseen by theindividual responsible for environmental issues at Yamaha
Corporation. In addition, the Working Group for Climate Change,
the Working Group for Resource Circulation, and the Working
Group for Procurement were established under the Sustainability
Committee, which is chaired by the president. These working
groups engage in discussions regarding important sustainability
issues, such as climate change response and sustainable resource
use and procurement, and report on these matters to the Boardof Directors. Based on the Group Environmental Management
Policies & Rules, we have established an integrated environmental
management system for all domestic business sites while
overseas sites develop their own environmental management
systems. These systems entail the formulation of business sitespecific environmental goals along with priority measures andaction plans for accomplishing these goals, which shape actual
initiatives. The status of these initiatives and the issues faced
are confirmed through internal environmental audits to drivea process of ongoing improvement and enhancement of these
initiatives. The Environmental Division of Yamaha Corporation is
responsible for supporting and leading Groupwide environmental
activities. To this end, the division gathers information on
regulatory and social trends related to the environment, enacts
Groupwide policies and rules, monitors and audits activities, andprovides technical support for introducing environmental facilities
and performs environmental measurements.
Sustainability Promotion System >Acquisition of ISO 14001 Certification
The Yamaha Group has acquired certification under ISO 14001, aninternational standard for environmental management systems.
As of March 31, 2023, Yamaha Corporation and 22 domestic
and overseas Group companies had acquired certification.
These companies account for approximately 95% of the Group’s
greenhouse gas emissions (Scope 1 and Scope 2).*1 The Group
believes that the current scope of certification acquisition is
sufficient considering its own environmental load, laws andregulations, and other matters. Going forward, this scope will be
expanded as necessary when constructing business sites that
may have a large impact on the environment.
*1 New production sites (Yamaha Music India Pvt. Ltd. and PT. YamahaMusical Products Asia) are slated to acquire certification by fiscal 2025.

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Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: Governance

Environmental Management
Response to Climate Change
Sustainable Resource Use
Environmentally Friendly Products and Services
Protection of Biodiversity

ISO 14001-Certified Sites
Yamaha Corporation Business Sites in Japan

Participation in Initiatives

Overseas Group Manufacturing Companies
Site

Acquisition Date

Yamaha Electronics Manufacturing (M) Sdn. Bhd.

December 1998

Tianjin Yamaha Electronic Musical Instruments, Inc.

December 1999

Acquisition
Date

Integrated
Certification
Acquisition Date

Kakegawa Factory

November 1998

November 2010

Toyooka Factory (including Yamaha
Hi-Tech Design Corporation)

PT. Yamaha Musical Products

January 2001

June 2000

November 2010

PT. Yamaha Music

December 2001

November 2010

PT. Yamaha Indonesia

May 2002

PT. Yamaha Music

July 2002

PT. Yamaha Electronics Manufacturing
Indonesia

January 2003

Yamaha Electronics (Suzhou) Co., Ltd.

March 2004

Hangzhou Yamaha Musical Instruments Co.,Ltd.

May 2012

Xiaoshan Yamaha Musical Instruments Co.,Ltd.

March 2013

February 2001

Domestic Group Manufacturing Companies
Site

Acquisition
Date

Integrated
Certification
Acquisition Date

Yamaha Fine Technologies Co.,Ltd.

March 2001

November 2010

Sakuraba Mokuzai Co., Ltd.

September 2002

November 2010

Yamaha Music Manufacturing
Japan Corporation

August 2014

August 2014

Kitami Mokuzai Co., Ltd.

August 2014

August 2014

Site

Acquisition
Date

Integrated
Certification
Acquisition Date

Yamaha Resort Inc.		

November 2001

August 2011

Resort Facilities

Environmental Education and Training
The Yamaha Group offers a variety of education and training
opportunities to employees in an effort to raise their knowledge
and skills with respect to the environment. Such opportunities
include the general education provided to all employees, specialty
education for instructor candidates at production sites, andenvironmental facilities education and training for individuals
in charge of environmental facilities.*2 Training is performed
throughout the year as needed for specific business sites orprocesses.
*2 Environmental facilities are sites with the potential of polluting theenvironment should an accident occur. Lists of environmental facilities
are compiled at each business site, and facilities are managed
accordingly.

Yamaha Sustainability Report 2023

Editorial Policy

Prevention of Pollution and Chemical Substance Management

Site

Headquarters area

External Recognition

Specialized Training for Environmental Preservation
Staff
The Yamaha Group has established specialized training curricula
for employees engaged in areas that require specialized
knowledge, including personnel involved in waste management,
wastewater treatment facility operation and management, andchemical substance management. Specialized training sessions
are conducted after defining and compiling lists of the skills
required for processes that have a particularly large impact
on the environment and examining the related educational
needs. Furthermore, staff of the Environmental Division of
Yamaha Corporation perform follow-up monitoring regarding
the education of employees responsible for the aforementioned
tasks at overseas factories. For example, wastewater managers
at Xiaoshan Yamaha Musical Instruments Co., Ltd., in China havereceived such specialized training in Japan.
In addition, we provide education related to chemical substancemanagement and the prevention of accidents such as leaksof environmental pollutants based on the Yamaha Group
Chemical Substances Usage Standard and the Yamaha Group
Environmental Equipment Standards. Emergency response drills
are also performed.
Furthermore, Yamaha’s technical academy program includes
the Eco-design Course for product planners, developers, anddesigners through which education on eco-friendliness in
products is provided.

Internal Environmental Auditor Training
Training for the personnel that carry out activities for selfregulating environmental preservation measures is imperative
to improving the operation of our environmental management
system. The Yamaha Group invites lecturers from externalorganizations and holds annual seminars to train internal
environmental auditors as an initiative to enhance our

11Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: Governance

Environmental Management
Response to Climate Change
Sustainable Resource Use
Environmentally Friendly Products and Services
Protection of Biodiversity

environmental preservation activities.
At business sites in Japan, an aggregate total of 1,212 participants
have obtained internal environmental auditor qualification, and ofthese, 326 employees are still currently employed by the Group,
which represents approximately 6% of employees at relevantbusiness sites (as of March 31, 2023).
We also hold an Internal Environmental Auditor Brush-Up Seminar
to improve the skills of staff members responsible for internal
audits in the given fiscal year.

Promotion of Eco-Conscious Activities by Employees
The Yamaha Group provides support and training to improve theenvironmental awareness of all employees and to promote ecoconscious activities by employees in their daily lives. Environment
Month and Environment Day campaigns are held every year
in June, and these campaigns are used as opportunities foradvancing environmental preservation and education activities
through joint labor-management efforts.
In March 2023, outside experts were invited to hold an online
seminar for Yamaha Group employees in which lectures were
provided on biodiversity, sustainable procurement, and othertopics.
Sustainability Management >Workplace Environmental Education Activities
To foster environmental awareness among employees, the YamahaGroup implements "Cool Biz" and "Warm Biz" programs aimed at
cutting back on unnecessary air-conditioning use by encouraging
employees to wear cooler attire in the summer and dress warmerin the winter. In addition, environmental education posters are
displayed. The Group also endorses the FUJINOKUNI COOL
Challenge, a citizen-driven global warming prevention campaign

Yamaha Sustainability Report 2023

Participation in Initiatives

External Recognition

Editorial Policy

Prevention of Pollution and Chemical Substance Management

implemented in Shizuoka Prefecture, and encourages employees
to prevent food loss by eating their entire meal at employee
cafeterias and to participate in environmental events.
Climate Change Response Measures >Environmental Awareness Activities in the HomeThe Yamaha Group works with the Yamaha labor union topromote eco-conscious activities in daily life through projects
and tools such as the tracking of eco-conscious household
activities; "Smart Life in My Home Commitments" conducted by
employees based on themes matched to their homes, such asenergy conservation; the "My Eco Commitment Coloring Page" forfamilies with children; and the promotion of Green Eco Curtains
at homes.

Response to Climate Change
Climate Change Response Measures
Rapid climate change poses a major threat to humanity and to all
life-forms on earth. We recognize that helping combat this threat
and contributing to the decarbonization of society are corporate
responsibilities and important management issues.
Under the guidance of the Working Group for Climate Change, aworking group chaired by an operating officer positioned under
the Sustainability Committee, which is chaired by the president,
the Yamaha Group is working to contribute to the global
movement to reduce CO2 emissions. At the same time, we arepreparing for the potential impact of climate change by identifying
risks, formulating mitigation measures, and incorporating these
into business strategies. Endorsing the goals of Science Based
Targets (SBT),*1 the Group received certification from this initiative
for its medium- to long-term reduction targets in June 2019. Later,in September 2021, the Company received certification for a new

greenhouse gas emission target of achieving a reduction of 55% in
Scope 1*2 and Scope 2*3 emissions from fiscal 2018 to be achieved
by fiscal 2031, substantially higher than the prior target of a 32%
reduction. The certification indicates that this new more ambitious
target is viable for limiting global warming to 1.5ºC above preindustrial levels. The move was taken in response to the carbon
neutrality trends of the international community. Furthermore, theGroup declared its endorsement of the recommendations of the
Task Force on Climate-related Financial Disclosures (TCFD)*4 inJune 2019 and commenced initiatives for analyzing the impact ofclimate change on its finances and disclosing related information.
Going forward, the Yamaha Group will continue to seek to achieve
net zero emissions in its operations and across its value chains.
At the same time, we will strive to create products, services, andbusiness models that help mitigate climate change and promote
the decarbonization of society through energy-efficient products
and other means.
Moreover, we will conform our initiatives to the Keidanren Carbon
Neutrality Action Plan, which was released by Keidanren, an
organization to which Yamaha is a member. The Company has alsojoined the Japan Climate Initiative and declared its participationin the GX League.
Products that Promote the Decarbonization of Society
Yamaha Fine Technologies Co., Ltd., is engaged in thedevelopment, manufacture, and sale of leakage detection systems
for the lithium-ion batteries used in hybrid electric vehicles, plugin hybrid vehicles, and battery electric vehicles. These systems
are imperative to the safe electrification of vehicles.

12

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: Governance

Environmental Management
Response to Climate Change
Sustainable Resource Use
Environmentally Friendly Products and Services
Protection of Biodiversity

Participation in Initiatives

Yamaha Corporation and domestic production sites are advancing
energy conservation and other initiatives in manufacturing
processes and at offices to achieve the long-pursued target of
reducing CO2 emissions per unit of production by 1% or moreeach year. For example, we have been introducing renewableenergy at our business sites, and were thereby able to transition
to renewable energy for 100% of the power used at the Company
headquarters in April 2021. We then later switched to Shizuoka
Green Electricity, a service that supplies electricity produced
through hydroelectric power generation in Shizuoka Prefectureoffered by Chubu Electric Power Miraiz Co., Inc., in September
2021. Furthermore, an internal carbon pricing system was
implemented in 2022. At overseas production sites, quantitative
reduction targets are set on an individual-site basis, and proactive
initiatives are being implemented toward the accomplishment ofthese targets.
In advancing emission reduction initiatives, we manage
greenhouse gas emission volumes in accordance with theGreenhouse Gas Protocol.*5 In addition, third-party verification
has been received for Scope 1 and Scope 2 emissions and certain
Scope 3 emissions since fiscal 2017.

*1 SBT is an international initiative that encourages companies to formulate
greenhouse gas emission reduction targets in accordance with scenarios
based on scientific evidence to contribute to the accomplishment of thegoals of the Paris Agreement.
*2 Scope 1 emissions are direct greenhouse gas emissions from a business
operator through sources such as fuel use on company premises.
*3 Scope 2 emissions are indirect greenhouse gas emissions from use ofelectricity, heat, and steam supplied by third parties.
*4 TCFD is a task force created by the Financial Stability Board that has
released recommendations aimed at facilitating appropriate investment
decisions through disclosure of the potential financial impacts of climatechange.

Yamaha Eco-Products Program >Yamaha Sustainability Report 2023

Editorial Policy

Prevention of Pollution and Chemical Substance Management

Greenhouse Gas Emission Reduction Initiatives

Lithium-ion battery leakage detection system

External Recognition

fiscal 2018 levels by fiscal 2031
*6 Scope 3 emissions are indirect greenhouse gas emissions from areas ofthe supply chain not accounted for under Scope 1 and Scope 2.

Major Reduction Initiatives• Energy-saving initiatives including optimization of production
methods and equipment placement, installation of highly
energy-efficient equipment and LED lighting, and exhaustive
management of facility operation times, air-conditioning
temperatures, and other energy consumption factors• Introduction of cogeneration systems and solar power
generation systems• Transition to fuel sources with low greenhouse gas emissions• Switch to purchasing renewable energy• Facilitate investment in high-efficiency and renewable energy
equipment through internal carbon pricing system• Improvement of transportation efficiency and shift to lowcarbon transportation methods (ships and trains) in distribution• Development of energy-efficient products (reduction ofemissions from large-volume Scope 3 emissions category(product use))*5 The Greenhouse Gas Protocol is a set of standards for calculating andreporting greenhouse gas emission volumes.

Third-Party Verification >Greenhouse Gas Emission Reduction Targets,
Measures, and Results
Reduction Targets (SBT-Certified)• Reduce total Scope 1 and Scope 2 greenhouse gas emissions
by 55% from fiscal 2018 levels by fiscal 2031 (achieve effective
carbon neutrality by fiscal 2051)• Reduce total Scope 3*6 greenhouse gas emissions by 30% from

Logo for Shizuoka Green
Electricity service providing
carbon-free electricity
produced in Shizuoka
Prefecture

100% Renewable Energy Fujippimark that can be displayed bybusiness operators in Shizuoka
Prefecture using 100%
renewable energy

13

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: Governance

Environmental Management
Response to Climate Change
Sustainable Resource Use
Environmentally Friendly Products and Services
Protection of Biodiversity

Internal Carbon Pricing
The Yamaha Group introduced an internal carbon pricing system
in April 2022 based on the belief that investing in renewableenergy and selecting more energy-efficient equipment will
be important to mitigating climate change risks. This system
entails converting CO2 emission volumes into monetary amounts
based on virtual prices and using these amounts when making
investment decisions. This approach motivates the Company toinvest in facilities with higher levels of energy efficiency and is
expected to drive investment in solar power and other renewableenergy generation equipment. For the foreseeable future, theGroup will use an internal carbon price of \14,000 per every ton of
CO2.

Participation in Initiatives

Editorial Policy

Prevention of Pollution and Chemical Substance Management*7 The scope of data collection is comprised of Yamaha Corporation
headquarters and major production sites and resort facilities worldwide(estimated to account for more than 95% of all Yamaha Group sites).
*8 Figures differ from those previously released as figures were recalculated
to further subdivide regional and power company coefficients by baseand by fiscal year.
*9 Figures use the combined value of indirect emissions through purchased
electricity and steam, direct emissions of CO2 through in-house power
generation and heat usage, and greenhouse gas emissions frommanufacturing processes.

Scope 3 Emissions (Fiscal 2023)

Results
Scope 1 and Scope 2 Emissions (Yamaha Corporation and all
production sites)*7 *8 *9

Initiatives at Yamaha Group Bases
Factory Initiatives
Yamaha Music Manufacturing Japan Corporation (Iida Factory)• Use of appropriate pressure for compressors, partitioningof work booths, introduction of power usage monitors, andconservation of space by consolidating equipment inside
factories and rationalizing equipment layouts• Improvement of air-conditioning efficiency by applying thermalbarrier coating to factory roof
Yamaha Music Manufacturing Japan (Kakegawa Factory)• Removal of unnecessary lighting, replacement of fluorescent

Yamaha Sustainability Report 2023

External Recognition

lighting with LED lighting, replacement of prior compressors
with inverter compressors, upgrading of distribution
transformers and air-conditioning equipment, and improvementof air-conditioning control• Improvement of efficiency during low-load periods by integrating
compressor control, investigation and repair of air leaks, andreduction of air pressure• Reduction of CO2 emissions by 583 t-CO2 and electricity usage
by 1,034 MWh on an aggregate basis over nine-year period (fiscal
2015-2023)• Utilization of cogeneration systems to cut CO2 emissions by
2,900 t-CO2 a year (equivalent to 420 kL of crude oil a year)
Yamaha Fine Technologies Co., Ltd.
• Efficient management of air-conditioning and sprinkling ofwater on factory roof to cut peak power consumption during thesummer• Introduction of summer-time system in which work start time
is moved two hours ahead to 6:00 a.m. for certain automobileinterior parts painting processes that require high levels of
air-conditioning (effectively shifting peak power consumption
point from 2:00 p.m. to 11:00 a.m. and realizing reduction inpeak power consumption of approx. 310 kW in hotter part of theafternoon as well as lowering power consumption by 200,000
kWh during three-month period from July to September)• Improvement of labor efficiency to shorten facility operating

hours, review of workplace layouts to reduce air-conditioning
requirements, and revision of how steam is used during winterHangzhou Yamaha Musical Instruments Co., Ltd.
• Appropriate operation management of dust collectors• Shortening of water supply operation times, strategic
positioning of lighting, and reduction of lighting usage times• Installation of automatic control system for dust collectors
and digital electricity meters in switchboards to enhance
management of electricity consumption and reduce losses from
idle power consumption by machinery at night• Sequential shift from fluorescent lighting to LED lighting

14

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: Governance

Environmental Management
Response to Climate Change
Sustainable Resource Use
Environmentally Friendly Products and Services
Protection of Biodiversity

Participation in Initiatives

External Recognition

Editorial Policy

Prevention of Pollution and Chemical Substance Management

Electric vehicle charging
stations that use renewableenergyCogeneration system at Kakegawa
Factory

Bulletin board providing noticeof energy conservation andother environmental activities

In-house educational posters promoting the "Cool Biz" and "WarmBiz" programs

Initiatives at Offices

Environmental education for
employees

Initiatives at Resort Facilities• Annual electricity savings of 77 MWh through installation of
LED lighting and motion sensors in restrooms• Annual reductions in CO emissions of more than eight tons
2

achieved by switching from gasoline golf carts to electric carts(fiscal 2014)• Annual electricity savings of 25 MWh through "green fan"initiatives (greens maintenance) and adjustment of facility airconditioning (fiscal 2019-2020)• Approx. 30% reduction in boiler fuel consumption (heavy oil) and
one-hour reduction in boiler operation time through replacementof all large-scale, air-conditioning systems that use hot water forheating with energy-efficient air-cooling systems• Upgrades to high-efficiency boilers• Introduction of high-efficiency air-conditioning systems andelectric vehicle charging stations that use renewable energy

Yamaha Sustainability Report 2023

Yamaha Corporation is advancing systematic electricity
conservation measures at offices.
Major Electricity Conservation Measures
Reduction of amount of lighting (after verifying lighting levels),
introduction of LED lighting, deactivation of lit advertisements,
halting of elevator operation, and notification of employees ofelectricity consumption amounts to raise awarenessTransition to LED Lighting• Annual electricity savings of 118 MWh at Yamaha Corporation
headquarters by replacing approx. 2,500 lights with LED lighting
over 10-year period (fiscal 2014-2023)• Annual electricity savings of 130 MWh at Toyooka Factory by
replacing approx. 6,300 lights with LED lighting over seven-year
period (fiscal 2017-2023)• Annual electricity savings of 228 MWh at Kakegawa Factory by
replacing approx. 2,500 lights with LED lighting over nine-year
period (fiscal 2015-2023)"Cool Biz" and "Warm Biz" Initiatives
Encouragement of cooler attire, such as not wearing a necktie,
during summer (May to October) and setting of air-conditioning
temperature to over 28°C
Request that employees wear warmer clothes during winter(November to March) so as not to rely too heavily on heating andsetting of heater temperature to under 20°C

Initiatives in Logistics
Energy Conservation and CO2 Emission Reduction in Logistics
The Yamaha Group is working to increase energy efficiency
and reduce CO2 emissions in logistics operations together
with efforts to improve transportation efficiency and shortentransportation lead times. To this end, we are incorporating
CO2 emission reduction initiatives into various activities. For
example, we are working to raise truck and container loading
ratios, review warehouse locations and transport routes toshorten transportation distances, examine the possibility ofincorporating low-carbon transportation methods (ships andtrains), revise transportation packing specifications, conduct joint
transportation with other companies, and dispose of waste in thearea it is produced.
In fiscal 2023, total CO2 emissions from logistics amounted to100,138 t-CO2, a decrease of 17,492 t-CO2 year on year.
Reducing CO2 emissions from logistics requires the cooperationof transportation companies. As such, we are working withthem to develop the necessary systems by requesting thatthe transportation companies we work with cooperate inenvironmental efforts and incorporating environmental matters
into questionnaires.
ESG Data >15

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: Governance

Environmental Management
Response to Climate Change
Sustainable Resource Use
Environmentally Friendly Products and Services
Protection of Biodiversity

Participation in Initiatives

Returnable packing rack for
grand piano framesStandardization of Packaging for
Shipping Components and Materials
to Conserve Resources and Reduce
CO2 Emissions
The Yamaha Group is pursuingenhanced efficiency in transportation
by increasing the number of products
shipped per container through theuse of more compact packaging that
better matches the sizes of the containers used during shipping.
For example, a 17.0% reduction in the size of the packaging used
for Yamaha P series digital pianos resulted in a 12.5% increase incontainer packing rates. This change led to an annual reduction of
269 in the number of 40-foot high-cube containers used together
with a 26-ton decrease in annual CO2 emission volumes.

confirmed the growth status of the forest via satellite imagery andestimated the volume of CO2 absorbed by the trees in 2017. The
Company estimates that approximately 42,000 t-CO2 had beenabsorbed leading up to 2017, and that 6,000 t-CO2 have beenabsorbed on a consistent basis each year thereafter.
Protection of Biodiversity >ESG Data >Folded returnable packing rack
(when being returned)

Resource Conservation and CO2 Emission Reduction in Piano
Frame Transportation
Previously, the Yamaha Group has used disposable iron packing
racks when transporting piano frames from Japan to overseas
factories. However, we are gradually introducing returnable packing
racks for piano frames that can be used multiple times in order
to conserve resources. In addition, by shortening transportationroutes and improving load efficiency, the Company has achieved a
100-ton reduction in CO2 emissions associated with the disposalof iron packing and a 1,600-ton reduction in iron resource
consumption. Going forward, we will examine the possibility of

Yamaha Sustainability Report 2023

Editorial Policy

Prevention of Pollution and Chemical Substance Management

shortening transport distances andreducing disposable packing material
use, including for parts aside frompiano frames.

Distribution flow using returnable packing racks

External Recognition

Loading container with pre-standardization packing boxes (left)
and loading container with standardized packing boxes (right)

CO2 Absorption through Tree Planting Activities inIndonesia
After conducting Yamaha Forest tree planting activities inIndonesia over the period from 2005 to 2016, the Company

16

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: Governance

Environmental Management
Response to Climate Change
Sustainable Resource Use
Environmentally Friendly Products and Services
Protection of Biodiversity

Endorsement of the TCFD Recommendations
Rapid climate change poses a major threat to humanity and to all
life-forms on earth.
We recognize that helping combat this threat and contributing to
the decarbonization of society are corporate responsibilities andimportant management issues.
In fiscal 2019, the Yamaha Group declared its endorsement of therecommendations of the Task Force on Climate-related Financial
Disclosures (TCFD) and commenced initiatives for analyzing
the risks and opportunities for its business created by climatechange. This information is reflected in management strategies,
and information on the financial impacts of these risks andopportunities is disclosed.

Participation in Initiatives

External Recognition

Editorial Policy

Prevention of Pollution and Chemical Substance Management

positioned under the Sustainability Committee, leads discussions
on measures for responding to climate change-related risks
and opportunities, and relevant topics are also examined by theWorking Group for Resource Circulation and the Working Groupfor Procurement. The results of these discussions are reported to
the Sustainability Committee.
In fiscal 2022, Yamaha revised its sustainability priorities(materiality), the management issues with the potential to impact
corporate value over the medium to long term, to include climatechange among these issues. The Make Waves 2.0 mediumterm management plan launched in April 2022 defines "setsustainability as a source of value" as one of its key policies,
thereby positioning response to climate change as a central
theme of the plan. Moreover, the Company has introduced
frameworks for reflecting the degree of accomplishment of targets
for CO2 emissions reductions and other non-financial indicators
into officer compensation.

*1 NZE Scenario (net zero emissions by 2050 and global warming of 1.5°C
above pre-industrial levels, 2022 World Energy Outlook, International
Energy Agency (IEA)); Sustainable Development Scenario (global
warming of less than 2°C above pre-industrial levels, 2022 World
Energy Outlook, IEA); Representative Concentration Pathway (RCP) 2.6(global warming of less than 2°C above pre-industrial levels); RCP 8.5(global warming of 4°C above pre-industrial levels); Announced Pledges
Scenario; Stated Policies Scenario (Business as Usual); etc.
*2 Risks and opportunities are classified as "short-term" if their impacts will
be most strongly felt over the next several years, "medium-term" if theirimpacts will be felt leading up to 2030, and "long-term" if the impacts
will appear in 2050.

Strategy

Yamaha’s Initiatives
Governance
Climate change and other important sustainability issues are
discussed at meetings of the Sustainability Committee, which
is an advisory body to, and chaired by, the president that wasestablished in January 2021. Matters discussed by this committee
are regularly raised to the Board of Directors, which confirms the
progress of and oversees measures. The Sustainability Committee
met six times in fiscal 2023.
In November 2022, a discussion forum was arranged withsustainability experts as part of our efforts to heighten awarenessregarding climate change and other social issues.
The Working Group for Climate Change, an organization

Yamaha Sustainability Report 2023

Scenario analyses have been performed to confirm the potential
impacts of climate change on the Yamaha Group. A number ofscenarios were used including those projecting global warmingof between 1.5°C and 2°C above pre-industrial levels, which
involve significant transition risks, and scenarios assuming
global warming of 4°C above pre-industrial levels, which forecast
substantial physical risks, as well as various other scenarios.*1
Applied to all businesses, these assessments were used to
identify short-term, medium-term, and long-term risks andopportunities.*2 Given the potentially large impact on businessactivities, strategies, and financial performance from climatechange, the related risks and opportunities are regularly reviewed,
and strategies are revised as necessary (see table below).

17

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: Governance

Environmental Management
Response to Climate Change
Sustainable Resource Use
Environmentally Friendly Products and Services
Protection of Biodiversity

Participation in Initiatives

External Recognition

Editorial Policy

Prevention of Pollution and Chemical Substance Management

High-Materiality Risks and Opportunities and Response Strategies
Scenario Analyses
Category

Institution or increase of carbon
pricesRisks and Opportunities

Yamaha’s Response Strategies

Scenarios Projecting
Global Warming of
1.5-2°C

Scenarios
Projecting Global
Warming of 4°C• Increases to production or procurement costs due tointroduction of carbon taxes• Potential for \1.0-2.0 billion increase in Group energy• Exhaustive energy conservation and advancement of conventional energy use

Increased impact↗

Continuation ofcurrent level ofimpact→• Increase in withdrawals from timber businesses due to• Increasing of rate of sustainable timber use• Advancement of Tone Forest activities to achieve sustainable procurement of

Increased impact↗

Increased impact↗

costs by fiscal 2031 (see graph to right)

Transition
risks
Withdrawal from timberbusinesses

popularization of forest-associated carbon credits••

reduction plan focused on utilization of renewable energy (rise in energy costs
to be limited to \0.4-0.9 billion by achieving energy conservation targets)
Promotion of investment in low-emissions equipment through introduction ofinternal carbon pricing system (¥14,000 per t-CO2)
Promotion of emissions reduction together with suppliers

timber suited to musical instrument production

Increasing frequency and severityof natural disasters• Halts to production due to damages to production bases • Reevaluation of flooding risks and potential damages to Yamaha Group

Continuation ofcurrent level ofimpact→Increased impact↗

Changes to the environmentsof regions from which Yamaha
procures timber• Difficulty procuring timber as a result of changes to the • Increasing of rate of sustainable timber use
environments of regions from which procured timber• Development of new materials and timber processing technologies to provide

Increased impact↗

Increased impact↗

Development of substitutes fortimber and establishment of newquality standards• Improvement of competitiveness and reputation among

Growth demand for products andservices associated with increasein time spent indoors spurred byrising temperatures• Higher demand for telecommunications equipment in• Supply of solutions for remote and online events that combine acoustics, signal ncreased impact
processing, and telecommunications technologies↗
• Creation of new customer experiences through remote concerts, lessons, andncreased impact↗

or disruptions to supply chains resulted from natural
disasters

bases (manufacturing, sales, and logistics) to enact preemptive measures in
preparation for natural disasters

Physical risks

Opportunities

Yamaha Sustainability Report 2023

is produced stemming from climate change (see tablebelow)

substitutes for scarce timber used currently (retention and enhancement oftimber-related technologies and procurement expertise)customers and investors by utilizing eco-friendly
alterative materials in products•

conjunction with increases in teleworking and online
events and gaming
Growing demand for audio equipment in conjunction
with rise in video distribution and emergence of hybrid
live streaming events as de facto standard

ensemble performances18

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: Governance

Environmental Management
Response to Climate Change
Sustainable Resource Use
Environmentally Friendly Products and Services
Protection of Biodiversity

Projected Impact of Carbon Pricing in Fiscal 2031 by Scenario(Billions of yen)

Participation in Initiatives

External Recognition

Editorial Policy

Prevention of Pollution and Chemical Substance Management

Potential Changes in Timber Procurement Region Environments from Base YearNZE Scenario*1
Announced Pledges Scenario*2
Stated Policies Scenario*3*1 Scenario targeting effectively net zero emissions by 2050
*2 Scenario assuming the implementation of adaptive climate change
response measures based on current government policies andregulations and technological progress*3 Scenario assuming that countries will enact their stated climate change
response policies and accomplish their announced targets

Risk Management
Process of Identifying and Assessing Climate Change-Related
Risks and Opportunities
Having established the guidance of the Risk Management
Committee, Yamaha has implemented Companywide frameworks
for assessing all of the climate change and other risks faced in its
corporate activities. These frameworks are utilized to identify andassess climate change-related risks.
Risks are assessed and categorized from the perspectives ofpotential damages and frequency. This approach is utilized to

Yamaha Sustainability Report 2023

determine the effective financial and strategic impact of said risks
on the Yamaha Group’s business, and this information is used as
the basis for the formulation of risk countermeasures.
Based on the results of scenario analysis, the Working Group
for Climate Change, an organization positioned under the
Sustainability Committee, determines and assesses the potential
damages and frequency of the risks identified through scenario
analyses. The working group then compiles lists of risks basedon the risk categories put forth by the TCFD. The potential
damages of the risks contained on these lists are assigned one

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Yamaha Group Sustainability

E: Environment

S: Social

G: Governance

Environmental Management
Response to Climate Change
Sustainable Resource Use
Environmentally Friendly Products and Services
Protection of Biodiversityof three ranks based on the portion of revenue represented bysaid damages, and the potential frequency is given one of four
ranks. This approach is used to identify material risks. A similar
approach is employed in specifying material opportunities.
Climate Change-Related Risk and Opportunity Management
Process
The Working Group for Climate Change meets four times a
year, and these meetings are attended by officers and division
management responsible for organizations pertaining to suchfunctions as production, procurement, logistics, the environment,
finances, and corporate planning. Meetings of this working groupare used to monitor and revise measures for responding to theidentified material risks and opportunities.
In addition, measures are discussed as necessary by otherworking groups, such as the Working Group for Procurement andthe Working Group for Resource Circulation, which provide advice
pertaining to the identification of themes for countermeasures aswell as the allocation of resources and decide upon indicators formonitoring progress.

External Recognition

Editorial Policy

Prevention of Pollution and Chemical Substance Management

Working Group for Climate Change identifies and assesses risks
and coordinates and supports the related response measures.

are both chaired by the president of the Company to allow fororganic coordination between the activities of these committees.

The Sustainability Committee, of which the Working Group for
Climate Change is a part, and the Risk Management Committee

Identified Climate Change-Related Risks and Opportunities and Potential Impacts
Category

Impact Level, Potential Impacts
Government
regulation• Large impacts on R&D, production, and sales plans stemming from restrictions on greenhouse gas

Technologies• Need to address important management tasks of reducing costs and developing low-carbon

Transition risks

emissions seen around the world and other current regulations• Widespread impacts on R&D, product, and production plans from future regulations

technologies

Markets• Concern for impacts on material procurement and costs associated with efforts to reducegreenhouse gas emissions

Material risks and opportunities warranting measures that exceed
the scope of responsibilities of the working groups are reported
to the Board of Directors, which will then examine the potential
response measures.

Reputation• Impacts on revenue and stock price from changes in social reputation

Direct operations• Concern for potential impacts on important factories from storms or floods resulted from climatechangePhysical risks
Relationship between Management of Climate ChangeRelated Risks and Comprehensive Risk Management
The Risk Management Committee is tasked with identifying
material risk scenarios pertaining to all of the risks faced in the
Company’s corporate activities, formulating measures to mitigate
the potential impacts of risks, and managing the progress of saidmeasures.

Participation in Initiatives

Procurement• Concern for impacts on ability to procure materials due to changes to the environments of regions
from which Yamaha procures timber stemming from climate change• Concern for impacts on production plans and water costs at certain factories due to widespreaddroughts as a result of climate change

Market• Potential growth in demand for products and services due to changes in lifestyles arising amid
climate change

Opportunities

Products andservices• Possible rises in demand for products and services that do not entail greenhouse gas emissions

Based on instructions from the Risk Management Committee, theYamaha Sustainability Report 2023

20

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: Governance

Environmental Management
Response to Climate Change
Sustainable Resource Use
Environmentally Friendly Products and Services
Protection of Biodiversity

Metrics and Targets
Reductions to CO2 emissions are managed in a comprehensive
manner encompassing the entire Yamaha Group and its supply
chains. To facilitate these efforts, the Greenhouse Gas Protocol
is used as the standard for calculating total greenhouse gas
emissions (Scope 1, Scope 2, and Scope 3 emissions), and thirdparty verification is received for these calculations.

Participation in Initiatives

External Recognition

Editorial Policy

Prevention of Pollution and Chemical Substance Management

associated with companies withdrawing from timber businesses
and changes to the environments of regions from which it
procures timbers. To guide these efforts, we have set the target ofachieving a 75% rate of sustainable timber use by fiscal 2025.
Decarbonization Plan
Reductions to CO2 emissions are managed in a comprehensive

manner encompassing the entire Yamaha Group and its supply
chains. By pursuing steady reductions in greenhouse gas
emissions (Scope 1, Scope 2, and Scope 3), Yamaha seeks tocombat rapid climate change, which is a threat to human society
as well as to all living organisms on the planet, and to contributeto the realization of a decarbonized society.

Yamaha has set the medium-term targets ofreducing total Scope 1 and Scope 2 greenhousegas emissions by 55% (a target certified by
Science Based Targets as sufficient for helping
limit average global warming to below 1.5ºC)
and total Scope 3 greenhouse gas emissions
by 30% from fiscal 2018 levels by fiscal 2031.
In addition, we have set a long-term target for
Scope 1 and Scope 2 emissions of achievingcarbon neutrality by fiscal 2051.
Targeting effective zero emissions ofgreenhouse gases across its value chain,
Yamaha announced its commitment toachieving net zero emissions, as defined by
Science Based Targets, in June 2023 (seediagram on next page).
As short-term milestones on our path toward
this larger target, we aim to achieve a 5%
improvement in energy efficiency during
production and a 10% rate of renewable energy
use by fiscal 2025.
Scope 1, Scope 2, and Scope 3 emissions >Yamaha aspires to protect forest resources
and biodiversity as it responds to the risks

Yamaha Sustainability Report 2023

21

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: Governance

Environmental Management
Response to Climate Change
Sustainable Resource Use
Environmentally Friendly Products and Services
Protection of Biodiversity

Sustainable Resource Use
Resource Conservation and Waste Reduction
The world is pressed with the urgent task of moving toward moresustainable production and consumption to escape from thecycle of massive production and waste that is destroying ourenvironment and depleting our resources. In response to thisexpectation, the Yamaha Group strives to use less resourcesin its products from a variety of standpoints, such as lowering
product size and weight, integrating several products into one,and reducing the amount of and, when possible, completely
eliminating, product packaging and cushioning. Moreover, we areworking to reduce resource use by extending product lifespans,developing instrument maintenance and repair service systems,
and collecting and reusing products through services such as
those offered in our piano renewal business. Other measures formaking the best use of finite resources include reassessing ouruse of plastic, which contributes to global warming and pollution;
switching to paper and other renewable materials; and lowering
waste emissions and recycling in manufacturing processes.

Unit Approach for Conserving Resources andExtending Product Lifespans
Based on the desire for our customers to be able to continue using
their beloved instrument for a long time, Yamaha has adopted an
approach of using replaceable units to conserve resources while
extending product lifespans. For ElectoneTM units, for example,
we offer services to upgrade products to a higher grade or newer
model purely through unit exchanges. These services include
the installation of grade-up units that can transform ElectoneTM
units into higher grades as required based on the skill of the user
and their intended application as well as vitalize units for raising
the performance of older ElectoneTM models to the level of thelatest models. We thereby help customers to continue using their

Yamaha Sustainability Report 2023

Participation in Initiatives

External Recognition

Editorial Policy

Prevention of Pollution and Chemical Substance Management

beloved ElectoneTM even longer. The Group is also selling addon units so that customers can enjoy their pianos for a longer
time in a range of situations. Such units include the Piano Silent
Unit, which adds a silent function, and the Disklavier Control Unit,
which adds a wealth of content and colorful functions to pianos
incorporating an automatic performance function.
Electone™ Vitalize/Grade-Up Units (in Japanese only) >Silent Piano Retrofit Unit (in Japanese only) >Disklavier Control Unit (in Japanese only) >Instrument Maintenance and Repair Service Systems
It is possible to use high-quality instruments for many years
with proper maintenance and repairs and replacements of parts.
Accordingly, the Yamaha Group is developing maintenance andrepair service systems for acoustic instruments such as pianos
and wind instruments.
Repair Technician Training
The Piano Technical Academy for training piano tuners and theWind Instrument Technical Academy for fostering technicians
specializing in wind instruments have been set up at factories
producing the respective instruments. At these facilities,
Yamaha Group instructors with exceptional insight pertaining
to instruments support those aspiring to become specialist
technicians with finely tuned curricula grounded in theirexpertise. After completing these programs, the newly trained
repair technicians provide after-sales services at Yamaha Groupsales agents across Japan.
Piano Technical Academy (in Japanese only) >Wind Instrument Technical Academy (in Japanese only) >Maintenance Support for Musical Instrument Users
We are providing knowledge and skills regarding musicalinstruments by offering maintenance guidebooks and holding

maintenance workshops to ensure that musical instruments are
consistently maintained in the best condition.

Effective Resource Use through Product Collection
and Restoration
Yamaha collects and restores instruments that are no longer
played at homes or other locations to make effective use of
these secondhand products. For example, Yamaha Piano Service
Co., Ltd., repairs, repaints, tunes, and adds additional mufflingmaterials before returning instruments to market as refurbishedpianos. Meanwhile, Yamaha Music Japan Co., Ltd., is conducting
the Future for Instruments Project in which it offers appraisal
and buyback services for instruments that are no longer used
to encourage users to return their instruments to Yamaha.
The purchased instruments are restored for reuse throughmaintenance by Yamaha technicians to promote the effective useof finite resources.
Piano Renewal Business (in Japanese only) >Future for Instruments Project (in Japanese only) >Utilization of Sustainable and Recyclable Materials
The Yamaha Group is developing alternative materials thatcan be substituted for scarce timber and adopting sustainable
materials, such as biomass-derived resins, for use in its products.
In addition, we use recycled polystyrene in portions of speakerboxes while incorporating recycled plastics into other products.
Yamaha Eco-Products Program >Reduction of Plastic Packaging Use
Yamaha is endeavoring to reduce its usage of plastic packaging
as society reassesses the use of disposable plastic items from theperspective of preventing global warming and pollution. As partof these efforts, we plan to stop using plastic packaging for newly
launching small products in fiscal 2025.

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Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: Governance

Environmental Management
Response to Climate Change
Sustainable Resource Use
Environmentally Friendly Products and Services
Protection of Biodiversity

Participation in Initiatives

External Recognition

Editorial Policy

Prevention of Pollution and Chemical Substance Management

Waste Reduction and Resource Recycling

Wireless earphones sold without plastic
cushioning

Wind instrument
cleaning swabs
with packaging
made from paper as
opposed to plastic

Effective Use of Timber Resources
The Yamaha Group is working to reduce losses by improving theyield ratio in timber processing while also reusing and recycling
wood chips from production processes. The Company is using
offcuts in other components and either using, selling, or disposing
such offcuts as raw materials, fertilizer, or fuel. In recent years,
the Company has also been conducting unique initiatives, suchas using sawdust produced in the wood manufacturing process at
Japanese factories that manufacture pianos as bedding for cows.

Exhibition of Upcycling Guitar at "Musical Instrument
Wood" Exhibition
Since December 2022, the Yamaha Ginza Shop has
been holding the "Musical Instrument Wood" Exhibition,
which provides information on the wood used in musicalinstruments and on Yamaha’s wood and forest preservation
efforts. One prototype product displayed at this exhibitionis the Upcycling Guitar, an instrument made by upcycling*1
the unused materials*2 produced during the manufactureof various musical instruments. This concept guitar is a
product of our research on raising the value of instruments
themselves in a manner that does not depend on therarity of the materials from which they are made. This newundertaking, which is aimed at ensuring Yamaha is always
able to supply quality instruments, is displayed at the"Musical Instrument Wood" Exhibition along with exhibits
on wood and columns describing the relationship between
wood characteristics and sound and other not commonly
known aspects of musical instrument production.
*1 The act of recycling something that would have otherwise been
disposed of in such a way that grants the resulting product a
new and higher value than the original item
*2 Wood materials and offcuts not used as a result of the rigorous
screening process that is part of musical instrument production"Musical Instrument Wood" Exhibition (in Japanese only) >Timber offcuts previously disposed of as waste being repurposed
as corner block (structural reinforcement materials inside guitar
bodies)Timber Resource Initiatives >Yamaha Sustainability Report 2023

Upcycling Guitar

The Yamaha Group has established systems for recovering andseparating waste in order to reduce waste produced at factories
and offices and promote recycling. Targets have been establishedwith this regard as part of the Group’s environmental management
system.
In Japan, the Yamaha Group had a recycling rate of approximately
99% as of March 31, 2023.
Furthermore, regular on-site inspections of waste processing
subcontractors are carried out to verify that waste is being
processed appropriately as part of our efforts to fulfill our waste
processing responsibilities.
Waste Reduction Initiatives
OfficeDetails

Toyooka
Factory

We process waste containing rare metals from the R&D
Department as a valuable resource and make effective
use of this resource.

Kakegawa
Factory

In 2021, the Company began using sawdust createdthrough timber processing to produce cat litter andother items.

XiaoshanYamaha MusicalInstruments Co.,Ltd.

The company has reduced paint process-related waste
by keeping the circulating water used in the musicalinstrument painting booths clean to enable longer
usage, which resulted in annual waste reductions ofapproximately 120 tons.

Yamaha Fine
Technologies
Co., Ltd.

The company takes steps to cut down on car part
rejects by reducing equipment defects and quality
defects. The result was a 16% reduction in overallfactory waste production coupled with energy
and resource savings achieved through improved
productivity.

"Musical Instrument Wood"
Exhibition at the Yamaha Ginza
Shop

23

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: Governance

Environmental Management
Response to Climate Change
Sustainable Resource Use
Environmentally Friendly Products and Services
Protection of Biodiversity

CD dryer (Toyooka Factory)

CD dryer (Kitami Mokuzai)

For details regarding waste, please refer to the ESG Data page.

Product and Packaging Recycling
The Yamaha Group complies with laws and ordinances related
to recycling products and packaging in relevant countries andregions, including the Waste Electrical and Electronic Equipment(WEEE) Directive of the European Union. In addition, we arepromoting efficient use of resources in Japan by establishinglocations for collecting used ElectoneTM products across thecountry to recover and recycle.

Participation in Initiatives

Yamaha Sustainability Report 2023

Editorial Policy

Prevention of Pollution and Chemical Substance Management

provide reports describing water intake volume, the water-relatedrisks they recognize, examples of damage, and other matters
to maintain an understanding of water-related risks across thevalue chain. We have also been receiving third-party verification
for Groupwide water usage data from as early as fiscal 2020 inorder to improve management and facilitate the sustainable useof water resources. Currently, the Group is working to reducewater use in the plating and washing processes involved in wind
instrument manufacturing by reusing cooling water, recycling
wastewater from production processes using reverse osmosis
membrane equipment, and implementing measures to prevent
leakage in water-using facilities. For these efforts, we have set
the target of reducing water use by 15% or more by fiscal 2031 incomparison with the fiscal 2015 level in order to facilitate greater
efficiency in water use.
Water Usage*

Protection of Biodiversity (Water Quality Preservation) >Prevention of Pollution (Monitoring of and Compliance with Laws
and Regulations) >Third-Party Verification (in Japanese only) >For details regarding water usage and reuse, please refer to the
ESG Data page.

Resource Conservation and Recycling Initiatives
Xiaoshan Yamaha Musical Instruments
Xiaoshan Yamaha Musical Instruments Co., Ltd., which
manufactures wind instruments and percussion instruments
in China, has been reusing approximately 80% of wastewater
for manufacturing processes since it installed a wastewater
treatment facility that purifies wastewater to the level of purewater. (This facility has brought this company in compliance withlegal provisions for the inspection and improvement of corporate
pollution resulting from electroplating of Zhejiang Province.*)
In addition, Xiaoshan Yamaha Musical Instruments has adopted
a cooling method that uses a circulating water supply to cool
the annealing furnaces used for heat treating the copper tube
components of wind instruments, resulting in annual reductions
in water use of approximately 5,700 tons.

Preservation of Water Resources
The Yamaha Group uses water to wash products and cool
facilities. The Group evaluates water resource-related risks
through comprehensive risk assessments conducted on aGroupwide basis as well as through surveys and water-related risk
evaluation tools at all business sites. These measures are used
to evaluate physical water stress, water quality, regulatory risks
related to water resources, and reputational risks. In fiscal 2020,
we began acquiring third-party verification for Groupwide water
intake volumes to further improve management practices. The
Group does not have large-scale production activities in areas
where water resources are lacking, and we have therefore judgedthat our operations do not have a large impact on the environment
through water intake. Furthermore, the Group requires hightransaction-value suppliers that use large amounts of water toExternal Recognition* Legislation passed in Zhejiang Province promotes environmental
preservation in electroplating factories by requiring companies engaged inelectroplating processes to conform to 56 items related to environmental
preservation systems and equipment. Standards for metals such ascopper and nickel are stricter than those for general factory wastewater.

* Water usage represents the total amount of groundwater intake and tap
and industrial water purchases.
* Note: The scope of calculation for greenhouse gas emission and water
usage volumes encompasses the Yamaha Corporation headquarters andmajor production sites and resort facilities worldwide and accounts formore than 95% of all Yamaha Group sites.

Wastewater treatment facility

Cooling unit using circulated water24

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: Governance

Environmental Management
Response to Climate Change
Sustainable Resource Use
Environmentally Friendly Products and Services
Protection of Biodiversity

Yamaha Musical Products Indonesia
Wind instrument manufacturer PT. Yamaha Musical Products
Indonesia has introduced a wastewater treatment facility thatenables the reuse of more than 60% of wastewater. Furthermore,wastewater treatment processes have been rationalized to reduce
the use of chemicals.
In addition, Yamaha Musical Products Indonesia has installed
equipment to allow cyclical reuse of the wash water used inrecorder production processes. This equipment has reduced water
use by approximately 12,000
tons per year. In 2019, such
equipment was deployed forother processes, cutting water
use by about an additional
1,300 tons.
Wastewater treatment facility
Hangzhou Yamaha Musical Instruments
In response to increasingly strict wastewater standards, piano
and guitar manufacturer Hangzhou Yamaha Musical Instruments
Co., Ltd., has installed a wastewater treatment facility capableof purifying wastewater to the point that it can be reused. The
wastewater treated in this facility is used for cooling water andother applications, resulting in annual reductions in water use ofroughly 10,000 tons.

Wastewater treatment facility

Yamaha Sustainability Report 2023

Reuse of wastewater for coolingwater

Participation in Initiatives

Editorial Policy

Prevention of Pollution and Chemical Substance Management

Yamaha Music India
Yamaha Music India Pvt. Ltd., which completed construction in
2019, has introduced a completely closed wastewater treatment
facility. Wastewater generated from the manufacturing process is100% reused and is not emitted outside the factory.

Wastewater treatment facility

External Recognition

Reuse of 100% of manufacturing
process wastewater

Yamaha Music Manufacturing Asia
PT. Yamaha Music Manufacturing Asia, a manufacturer ofelectronic instruments, installed reverse osmosis membraneequipment in 2019 to treat
wastewater for reuse in the
manufacturing process. In
addition, it is conserving
approximately 120,000 kWh ofpower a year by spraying miston chillers to augment theirReverse osmosis membranecooling capabilities.
equipment
Yamaha Musical Products Asia
At PT. Yamaha Musical Products Asia, which commenced
production in fiscal 2021, we
have introduced a state-ofthe-art wastewater treatment
facility designed for the
purpose of reusing wastewaterin manufacturing processes.
Wastewater treatment facility

Prevention of Pollution and Chemical
Substance Management
Environmental Pollution Prevention Frameworks
The Yamaha Group established the Yamaha Group Environmental
Equipment Standards in 2014 to guide efforts to prevent
environmental pollution during the course of its businessactivities. These Group standards contain provisions regarding
the installation, management, and operation of environmental
facilities. Compliance with these standards is being pursued ina systematic matter based on road maps set on an individual
production site-basis, and we plan to achieve full compliancewith these standards at all domestic and overseas production
sites in fiscal 2024. In this manner, we aim to keep the number ofaccidents resulting in environmental pollution at zero.
As of March 31, 2023, 18 of 19 sites were in full compliance with
the Yamaha Group Environmental Equipment Standards.

Monitoring and Legal ComplianceWith the goal of reducing the environmental impact of its
business activities and ensuring compliance with environmental
laws, Yamaha Group divisions in charge of environmental
measurement regularly monitor gas, wastewater, noise, odor,
and other emissions to confirm the status of the management ofthese emissions and to assess compliance in accordance with theannual plans created by the Yamaha Corporation Environmental
Division and the management divisions of individual businesssites.
In monitoring environmental impacts, we employ our own
standards, which are stricter than existing legal standards. In
the event that measurements exceed standards or are unusual
in some way, we take immediate emergency and corrective
measures.

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Yamaha Group Sustainability

E: Environment

S: Social

G: Governance

Environmental Management
Response to Climate Change
Sustainable Resource Use
Environmentally Friendly Products and Services
Protection of Biodiversity

In addition, we have systems in place to facilitate quick responses
to revisions to laws and regulations. The Yamaha Group collects thelatest information on regulatory reforms, and the Yamaha Corporation
Environmental Division compiles, checks, and communicates thisinformation to business sites to ensure consistent compliance on aGroupwide basis. Furthermore, the Group has established working
groups at business sites comprised of members of the management
and production divisions of the respective sites to advance risk
reduction measures. Legal compliance frameworks are developed
through coordination among Group companies worldwide. Particularly
strong coordination is being practiced with companies in China, whereenvironmental laws have been amended frequently in recent years.

Participation in Initiatives

External Recognition

Editorial Policy

Prevention of Pollution and Chemical Substance Management

pursuing efficient improvements to mitigate risks.
In addition, the frequency of audits is determined based on risk
levels, and audits are conducted regularly. In fiscal 2023, we
conducted environmental audits at two sites.

natural disasters or accidents. The Yamaha Group identifies risks
using uniform Groupwide evaluation standards and implements
improvement measures and refines procedures pertaining toemergency response measures at business sites deemed to facesignificant risks through these evaluations. Additionally, businesssites have prepared procedures, equipment, and stockpiles
to respond to such emergency situations and are conducting
emergency response training.

Emergency response training

Pollution and Hazardous Substance Response
Measures
Environmental measurements being performed

Environmental Audits
The Yamaha Group conducts internal environmental audits according
to the ISO 14001 integrated management system standard in order toprevent environmental accidents and violations of law. In addition, we
conduct environmental audits calling on the expert knowledge of the
Yamaha Corporation Environmental Division and in accordance with the
Yamaha Group Environmental Equipment Standards. Yamaha auditing
staff acquire internal environmental auditor certification based on ISO
14001 standards as well as official qualifications related to environmental
preservation, such as Pollution Control Manager and Working
Environment Measurement Expert certifications.
Shared Groupwide checklists are used to score compliance withequipment standards at business sites and environmental risks. Byclarifying priorities and items requiring a response, the Company is

Yamaha Sustainability Report 2023

Environmental audit conducted by auditing staff of Yamaha
Corporation Environmental Division

Emergency Preparedness
The Yamaha Group implements frameworks and conducts training
sessions to prevent environmental pollution caused by leaks ofhazardous substances and oils from business sites as part of its
efforts to ensure preparedness for emergency situations, such as

The Yamaha Group constantly monitors wastewater to prevent
wastewater from business sites from negatively impacting waterand related habitats. Furthermore, we conduct regular surveys on
the impact of wastewater on life-forms
and the water quality in waterways
to which wastewater is discharged.
In the past, the Group has conductedcleanup measures at two sites where
soil and groundwater contamination
occurred due to chlorine-basedorganic solvents. We have alreadycompleted groundwater cleanup
activities at the Toyooka Factory of
Yamaha Corporation. In addition,
Groundwater purification
conditions at Yamaha’s headquarters
equipment at ourhave been restored to near-standard
headquarters

26

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: Governance

Environmental Management
Response to Climate Change
Sustainable Resource Use
Environmentally Friendly Products and Services
Protection of Biodiversity

Participation in Initiatives

Chemical Substance Management and Emission
Reduction

At the main factory of Yamaha Music Manufacturing Japan
Corporation, the Company upgraded wastewater processing
equipment in 2018 in order to improve earthquake resistance andprocessing capabilities. This new equipment can process twice
as much wastewater as the previous equipment and has been
designed to withstand an earthquake with an intensity of 6 upper
to 7 on the Japanese seismic scale.

Based on the Yamaha Group Chemical Substances Usage
Standard, the Yamaha Group practices exhaustive managementof chemical substances regulated under the Act on Confirmation,etc. of Release Amounts of Specific Chemical Substances in theEnvironment and Promotion of Improvements to the Management
Thereof (the "PRTR Act") and takes steps to reduce emissions ofthese substances from its production processes and products.
These precautions are part of our efforts to minimize the negative
impact on people and the environment from chemical substanceuse. At domestic Group companies, safety data sheets*1 pertaining
to materials containing chemical substances are managed in an
integrated manner via a database, evaluations of the dangers ofthese substances and their potential impacts on the environment
are performed, and the necessary steps are taken to mitigate
risks.

Waste Disposal Initiatives
Site

Details

Toyooka
Factory

Treatment processes were adopted for acids andwaste alkali, which were previously condensed due todifficulties associated with wastewater processing.
This enabled the factory to eliminate all emissions ofspecified controlled industrial waste from waste liquids.

Kakegawa
Factory

KitamiMokuzai Co.,Ltd.

The Company has installed more wastewater processing
equipment and begun the in-house processing ofwastewater containing adhesive agents generated in the
piano manufacturing process. These efforts have led toannual waste reductions of approximately 90 tons.
The Company has augmented its ability to processwastewater containing adhesive agents. These efforts
have led to annual waste reductions of approximately
270 tons.
A liquid waste reduction CD dryer has been installed,resulting in a 50% reduction in emissions of wastewater,sludge, and other waste.

Yamaha Sustainability Report 2023

Editorial Policy

Prevention of Pollution and Chemical Substance Managementlevels, and we continue to advance cleanup activities today. We
have completed soil contamination cleanup activities at both sites.

Wastewater processing equipment at the main factory of YamahaMusic Manufacturing Japan

External Recognition*2 VOCs are substances used in thinning agents as coatings and adhesives
thought to be one factor in the release of photochemical oxidants andsuspended particulate matter.

VOC treatment facility at Tianjin
Yamaha Electronic MusicalInstruments, Inc.

VOC treatment facility at
Hangzhou Yamaha MusicalInstruments Co., Ltd.

VOC treatment facility at
Xiaoshan Yamaha MusicalInstruments Co., Ltd.

VOC treatment facility at
Yamaha Electronics (Suzhou)Co., Ltd.

At present, the chemical emissions that occur in the course of
production processes at Yamaha Group companies mainly consistof volatile organic compounds (VOCs)*2 from product coating andadhesive processes. The Group constantly monitors VOC emissions
and is working to reduce such emissions by installing treatment
equipment and using alternative substances. (For details regarding
VOC emissions, please refer to the ESG Data page.)
Factories in China have completed the introduction of VOC
treatment equipment, resulting in a reduction of approximately
90% in emissions of such substances. Meanwhile, PT. YamahaMusic Manufacturing Asia is implementing thinning agent
recycling initiatives and has been able to achieve a reduction inemissions of these substances of approximately 70%.
*1 Safety data sheets are used to record information on the potential
dangers and handling methods for chemical substances and products
containing chemical substances regulated under the Industrial Safety
and Health Act, the Poisonous and Deleterious Substances Control Act,and the PRTR Act.

Reduction of Chemical Substance Emissions in
Coating Processes
Coating processes are performed to give musical instruments andautomotive interior components their beautiful appearance anddurability. In these processes, the Yamaha Group continues toresearch and introduce coating methods that lower environmental
impacts by reducing the use of coating agents and the emissionof organic solvents. To date, we have developed applications forelectrostatic coating, powder coating, and flow coating matchedto our products, and are making use of these applications in the
production process.

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Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: Governance

Environmental Management
Response to Climate Change
Sustainable Resource Use
Environmentally Friendly Products and Services
Protection of Biodiversity

Yamaha Music Manufacturing Japan Corporation has been
replacing the coating agents used for parts from agents
containing organic solvents to water-based coating agents in the
piano manufacturing process. Water-based coating also has the
positive effect of improving the work environment.
Similarly, Yamaha Fine Technologies Co., Ltd., has developed an
in-mold coating method that completes the coating process insideof the mold. This method has been adapted for automobile interior
components. By switching from traditional spray coating to inmold coating, this company has achieved adhesion efficiency*3of more than 90% while lowering the amount of organic solvents
released into the atmosphere using less coating. Ventilating
operations in the workplace have been significantly reduced aswell, contributing to a reduction in the amount of energy used.
Through this coating method, we were able to reduce the amountof styrene used in fiscal 2023 by 11.9tons.
*3 Adhesion efficiency is the ratio of materials adhering as a coatingcompared to total used.

Participation in Initiatives

hydrochlorofluorocarbons (HCFCs). Since eliminating the useof all specified CFCs in manufacturing processes in fiscal 1994,
we have been using HCFCs, which have a lower ozone depletion
potential compared to specified CFCs, in the degreasing process
for metal materials. However, we also eliminated the use of all
HCFCs in fiscal 2006 because of its large contribution to global
warming.

Environmental Accidents and Litigation
In fiscal 2023, the Yamaha Group did not conduct any serious
violations of any laws, receive fines, pay fees, or be named in any
lawsuits with respect to environmental concerns. The Group did
not experience any accidents having an effect on the outsideenvironment, nor did we receive any significant complaints.

Environmentally Friendly Products andServices

The Yamaha Group performs product life-cycle assessmentsthat cover all product life-cycle stages, ranging from material
procurement to production, transportation, use, and disposal,
and uses other methodologies to identify the characteristicsof the environmental impacts of its various product lines. This
information is used to practice environmentally friendly design
based on the major environmental impact characteristics ofspecific products.

Protection of the Ozone Layer

Yamaha Sustainability Report 2023

Editorial Policy

Prevention of Pollution and Chemical Substance Management

Environmentally Friendly Design and Green
Procurement

The Yamaha Group has historically worked to reduce usage offluorocarbons to protect the ozone layer. We have eliminatedthe use of all specified chlorofluorocarbons (CFCs) andExternal Recognition

For chemical substances contained in our products, we havecreated standards for use in products, established a management
system, and perform green procurement.
Yamaha Group Environmental Policy >Major Product Characteristics Identified throughLife-Cycle Assessments and Measures
Note: The size of each circle indicates the relative environmental
impact associated with the respective stage in the product life cycle.
Acoustic Instruments
Characteristics• No energy consumption during use (lack ofneed for electricity, etc.)• Long lifespans (often used for several decades)• Primarily made using renewable timber, but
present risks of deforestation and resource
depletion via illegal thinning• Lack of material recycling infrastructure likethat seen for household appliances
Measures• Sustainable timber procurement that does notcontribute to deforestation or resource
depletion• Extension of lifespans throughAcoustic
instrument life
cycle

enhancement of maintenance services andreuse frameworks• Development of material recycling frameworks
Electronic Instruments
Characteristics• Lower energy consumption than standard
household appliances as most products do
not have idle power consumption• Lifespan on par with standard household
appliances• Large environmental impact frommanufacturing metal components due to needfor excavation and smelting, environmental
pollution risks from runoffs attributable toplastics and chemical substances

Electronic
instrument life
cycle

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Yamaha Group Sustainability

E: Environment

S: Social

G: Governance

Environmental Management
Response to Climate Change
Sustainable Resource Use
Environmentally Friendly Products and Services
Protection of Biodiversity• Lack of material recycling infrastructure like that seen forhousehold appliances
Measures• Reduction of use and replacement of substances that impact
the environment• Extension of lifespans through retrofitting• Utilization of biomass and other renewable resources• Development of material recycling frameworks
AV Equipment and IT Equipment
Characteristics• Relatively large energy consumption due to constant operationof some IT equipment and idle power consumption of AV
equipment• Lifespans heavily influenced by specifications and versions ofconnected equipment• Large environmental impact frommanufacturing metal components due
to need for excavation and smelting,environmental pollution risks from runoffs
attributable to plastics and chemical
substances• Lack of material recycling infrastructure likethat seen for household appliances
Measures• nergy-efficient design• Reduction of use and replacement of
substances that impact the environment• Utilization of biomass and other renewable
resources• Development of material recycling
frameworks

Yamaha Sustainability Report 2023

AV equipment andIT equipment life
cycle

Participation in Initiatives

External Recognition

Editorial Policy

Prevention of Pollution and Chemical Substance Management

Management of Chemical Substances Contained in
Products
Some chemical substances contained in distributed or soldproducts require proper treatment at the time of disposal
or have the potential to adversely impact people’s health or
the environment. For this reason, countries around the world
have been strengthening restrictions on chemical substances
contained in products and requiring data disclosure.
With this regard, Yamaha Corporation has established theStandards for Chemical Content in Products. These standards areused to manage chemical substances in products during designand development to help ensure legal compliance and reduce
environmental impacts. The standards are revised when necessary
in response to legislative changes, the accession of voluntarystandards, and other factors.

Management System for Chemical Substances
Contained in Products
In order to manage the chemical substances contained in
products, it is imperative to identify and control the chemical
substances contained in the parts and materials that makeup finished products. The Yamaha Group has implemented amanagement system for such chemical substances, and suppliercooperation is requested as we conduct surveys of the chemical
substances contained in parts and work to manage thesesubstances.
Furthermore, the Yamaha Group has adopted the industrystandard format for the communication of information on thechemical substances contained in products.*1 We also havesystems in place for furnishing flexible responses to the ongoing
addition of chemical substance regulations, such as the expansionof the list of substances of very high concern in the European
Union’s Registration, Evaluation, Authorisation and Restriction ofChemicals (REACH) regulations.*2 At the same time, Yamaha holds

briefing sessions to gain the understanding and cooperation of
suppliers in regard to managing the chemical substances used incomponents.
*1 The Group uses the chemSHERPA® (chemical information SHaringand Exchange under Reporting PArtnership in supply chain) standard
endorsed by the Joint Article Management Promotion-consortium (JAMP)
for providing information on chemical substances contained in products.
Through the adoption of such standards, parts manufacturers are able touse the information on chemical contents that they receive from material
manufacturers to convey information on the chemical contents of parts
to the entities they supply.
*2 Substances of very high concern are substances, such as carcinogens,for which disclosure and management are required under REACH
regulations should an amount exceeding a defined threshold becontained within a product.

Promotion of Green Procurement
In accordance with the Yamaha Group Green Procurement Policy,
the Yamaha Group promotes green procurement in which it
sources materials with low environmental impacts throughout theentirety of product life cycles, spanning from resource extraction
to disposal. The policy compiles our requests of suppliers, andwe ask suppliers to cooperate with surveys on the chemical
substances used and contained in the articles they supply as wellas the status of chemical substance management. Information
on chemical contents and chemical substance management
practices received from suppliers is compiled in a database foruse in confirming the chemical substances contained in products
and in complying with environmental regulations. The policy isrevised as necessary by changes in the global regulatory climate.
Yamaha Group Green Procurement Policy >Yamaha Eco-Products Program
The Yamaha Group launched the Yamaha Eco-Products Programin 2015. This program is designed to clarify environmental
standards for products and promote environmentally friendly
products. A Yamaha Eco-Label is affixed to those products

29

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Yamaha Group Sustainability

E: Environment

S: Social

G: Governance

Environmental Management
Response to Climate Change
Sustainable Resource Use
Environmentally Friendly Products and Services
Protection of Biodiversity

meeting our environmental standards, thus certifying them as
Yamaha Eco-Products. Our objective is to provide straightforward
information on the environmental considerations incorporated
into products to assist customers in the decision-making process
when selecting a product.
A total of 16 new product models were certified under the Yamaha EcoProducts Program in fiscal 2023. As of March 31, 2023, the number ofcertified products, including prior products, was 484, of which 16 were
newly developed products bearing the Yamaha Eco-Label.

Participation in Initiatives

External Recognition

Editorial Policy

Prevention of Pollution and Chemical Substance Management

Products Supporting the Reduction of Environmental Impacts
Yamaha Group products are not only for general consumers but
also for businesses. Some of our products help to reduce theenvironmental impact of our customers’ business activities orcan be used to reduce environmental impacts during the use of

products manufactured by the customer. The Group works to
reduce environmental impacts throughout society by means of thedevelopment and promotion of such products.

Products / Services

Environmental characteristics / Benefits

ADECIA remote meeting sound solution

Contribution to reduction of CO2 emissions through remotecommunication that does not require movement by people

Unified communications speakerphone

Contribution to reduction of CO2 emissions through remotecommunication that does not require movement by people

Related pictures

In fiscal 2023, sales of Yamaha Eco-Label certified products
accounted for approximately15% of total net sales.

Products Certified in Fiscal 2023
SR-C30A sound bar
Reason for certification: Energy conservation(reduced electricity consumption when in
network standby mode)

Packaging for CLSS3 cleaning swabs
for wind instrument mouthpieces andsaxophone necks Reason for certification:
Resource conservation (elimination of plastic
packaging)Micro prober flexible printed circuit
Waste reduction and resource conservation benefits fromconduction and insulation inspection devices improved yield rates for product subject to tests(Yamaha Fine Technologies Co., Ltd. product)

Helium leak tester
Support for compliance with automobile environmental(Yamaha Fine Technologies Co., Ltd. product) regulations and reductions in environment impacts fromdriving

Hydrogen leak detector
Promotion of hydrogen as next-generation form of energy(Yamaha Fine Technologies Co., Ltd. product)
Sustainable Consumption >Yamaha Eco-Products Program >Yamaha Sustainability Report 2023

Yamaha Eco-Label

30

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: Governance

Environmental Management
Response to Climate Change
Sustainable Resource Use
Environmentally Friendly Products and Services
Protection of Biodiversity

Protection of Biodiversity
Biodiversity Protection and Preservation Initiatives
The destruction of the natural environment is resulting in
biodiversity being lost at an ever-accelerating pace. The YamahaGroup conducts business activities that utilize natural resources,
such as the timber used as a raw material to make a variety
of products including acoustic musical instruments, and theecosystems that produce these resources, which are comprisedof diverse living organisms. We therefore have a responsibility
to protect and preserve forests and the biodiversity therein as
a company that uses timber. The Group promotes appropriate
business activities and timber use as well as environmental
preservation activities based on its recognition of this responsibility.

Yamaha Group Timber Procurement Policy >Yamaha Supplier CSR Code of Conduct >Breakdown of Timber Resources Used by the YamahaGroup by Origin (Fiscal 2023)
Breakdown of Timber Purchase Volumes by Location

Note: Figures exclude
products that are not Yamaha
brand or original equipment
manufacturer (OEM)/original
design manufacturer (ODM)
products.

Timber Resource Initiatives

Considering the diverse variety of timber used in its business
operations, the Group established the Yamaha Group Timber
Procurement Policy, which sets forth directives for timber usage
in order to better conserve this precious resource and to ensure
its availability for continued use in the future, without depleting
biodiversity or damaging ecosystems. The Group has alsoestablished the Yamaha Supplier CSR Code of Conduct, whichclearly stipulates points related to the harvesting and trading

Yamaha Sustainability Report 2023

External Recognition

Editorial Policy

Prevention of Pollution and Chemical Substance Managementof timber resources that suppliers are requested to observe.
This policy and code guide the Group in conducting sustainableprocurement and in fully utilizing timber, a highly renewable
resource, without waste.

Yamaha Group Sustainability Policy >Yamaha Group Environmental Policy >Sustainable Resource Use >Many of the instruments that the Yamaha Group produces, suchas pianos and string, percussion, and wind instruments, areprimarily made of wood. Large amounts of timber are also used
when making electronic musical instruments, speakers, andsoundproof rooms, due to the merits of wood in terms of acoustic
performance, function, design, and texture.

Participation in Initiatives

For details regarding specificvolume figures, please refer tothe ESG Data page.

Timber Due Diligence
Sustainable use of timber requires consideration for forest
conservation and for timber resource volumes. At the same time,
it is crucial to contribute to community development throughemployment opportunities and infrastructure to sustain theeconomic viability of the supply chain. The Yamaha Group has
established a due diligence system to prevent the procurementof timber from illegal sources, and promotes a strict confirmation
process for the legality of timber harvesting through site visitsand surveys of documents for procurement sources. In addition toenvironmental considerations, the Group is expanding the use ofcertified timber, which is produced in socially and economicallysustainable forests and contributes to the advancement of thecommunity.
The Yamaha Group conducts surveys targeting all business
partners from which timber was purchased to assess the place oforigin, the legality of harvesting, and the sustainability of relevant
resources. Based on the results, we perform stricter verification oflegality for timber deemed to represent a high risk by undertaking
further investigations including local site visits and assessments
by a committee comprised of members of the Timber Procurement
Division and the Sustainability Division. We confirmed that 99.6%(volume ratio) of procured timber was low risk in fiscal 2023.
The Yamaha Group conducts such surveys each year with thecooperation of suppliers and is aiming to achieve a 100% rateof low-risk timber procurement. Additionally, we are actively
adopting certified timber. Certified timber constituted 53.2% oftimber purchased in fiscal 2023 (by volume, 5.6% of which wasfrom newly adopted sources). The medium-term management planannounced in April 2022 put forth the target of achieving a ratioof sustainably sourced timber of 75% by fiscal 2025, and we haveformulated internal standards to evaluate the sustainability of
non-certified timber to further us toward this goal. Going forward,
the Yamaha Group intends to expand usage of certified timberand other timber that complies with its internal standards.

Legality assessment meeting

Site visit

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Yamaha Group Sustainability

E: Environment

S: Social

G: Governance

Environmental Management
Response to Climate Change
Sustainable Resource Use
Environmentally Friendly Products and Services
Protection of Biodiversity

Cultivation of Quality Timber through Coordination
with Local Communities (Tone Forest Activities)
The Yamaha Group uses a diverse variety of timber to produce
musical instruments and other products. However, concerns
regarding the sustainability of these resources have arisen inlight of the recent declines in timber resource volume and quality.
The Group aims to address these concerns through Tone Forest
activities, which are being advanced through coordination withlocal communities for the purpose of developing sustainable
forests to ensure that high-quality timber suited to musicalinstrument production can be secured in a sustainable manner.
We partner with government agencies and academic institutions
to advance these activities around the world.

Initiatives in Tanzania (African Blackwood)
African blackwood (Dalbergia melanoxylon), an important material
used for woodwind instruments, is classified as near threatenedby the Red List of Threatened Species, which is compiled by
the International Union for Conservation of Nature and Natural
Resources, and a downward trend in the resource volume has
been seen in recent years. In 2015, Yamaha began investigationsof African blackwood looking at matters such as ecology, resource
stocks, and forest management status in Tanzania, where this tree
is grown. Seeking to create a business model that can utilize African
blackwood timber in musical instruments in a sustainable manner,
we have been working to introduce cultivation techniques, improveland utilization practices, and develop material usage technologies
from the perspectives of forest preservation, musical instrument
production, and local communities. These activities have been
selected for subsidy programs by various third-party institutions,
including as a base of pyramid (BOP) business by the Japan
International Cooperation Agency (JICA) over the period from 2016
to 2019 and as a Forestry Agency subsidy project in 2015 and 2021.
We are moving ahead with these activities with the cooperation ofnumerous research institutions, NGOs, and other organizations.

Yamaha Sustainability Report 2023

Participation in Initiatives

Editorial Policy

Prevention of Pollution and Chemical Substance Management

Currently, three communities are taking part in the regular African
blackwood planting activities Yamaha commenced in 2015. In
fiscal 2023, we planted approximately 3,500 seedlings, making
for an aggregate total of around 15,000 saplings planted acrossan area of roughly 8.5 ha over the six years of these activities.
Data on the growth status of the planted saplings and theirsurrounding environment has been used to develop a fundamental
understanding of how to foster quality trees. Meanwhile, we havebeen working together with local NGOs and community members
to make sapling cultivation, tree planting, and other forest
management activities entrenched practices within communities.
In addition, Yamaha commenced the trial introduction of fastgrowing Meliaceae family plants into community farms in 2021.
These plants have the potential to be used as timber after a mere
15 years, thereby presenting the possibility for benefits fromtimber production in the medium term while also generating thesynergetic benefits of helping preserve African blackwood andother scarce resources through improvements to community land
utilization practices.
Moreover, there are still numerous cases in which African
blackwood timber produced in Tanzania cannot be used for
producing musical instruments due to flaws such as cracks
or breaks. Yamaha is moving ahead with the development ofelemental technology for improving the usage inefficiency of such
unutilized resources with the goal of increasing the value of theseresources to provide additional incentives for preserving forests.

Growing sapling at test
cultivation site

External Recognition

Fast-growing sapling planted ona trial basis

Initiatives in Hokkaido (Sakhalin Spruce)
Kitami Mokuzai Co., Ltd., a Hokkaido-based company that manufactures
piano soundboards, signed an agreement with the Okhotsk General
Subprefectural Bureau and the town of Engaru, Monbetsu-gun,
Hokkaido Prefecture in 2016 under which these organizations have beenworking together to foster sustainable forests and expand the demandfor Sakhalin spruce (Picea glehnii) plantation timber.
These activities were expanded on in 2021 with the conclusion of acomprehensive cooperation agreement between Hokkaido Prefecture
and Yamaha Corporation, based on which we are advancing Tone
Forest activities across the entirety of Hokkaido Prefecture. Sakhalin
spruce trees have continued to be cultivated in Hokkaido Prefecture
due to their value as a timber resource, and have even been employedin Yamaha piano soundboards in the past.
The agreement with Hokkaido Prefecture calls for us to help theprefecture once again achieve a reliable supply of high-quality Sakhalin
spruce trees that can be used in producing piano soundboards and totransmit the prefecture’s forestry culture to future generations.
In October 2022, we held a tree planting event at an Engaru Town
Sakhalin spruce plantation located close to Kitami Mokuzai. In thisthird iteration of this event, a group of approximately 70 people
comprised of employees of Kitami Mokuzai, members of their families,
and Yamaha representatives gathered to plant some 600 Sakhalin
spruce saplings. Moreover, we displayed an exhibit introducing these
activities to the general public at the Mokuiku Plaza in the Chi-KaHo event that took place as part of Sapporo City’s Mokuiku Festa2022 in January 2023. In addition, we arranged a handmade castanet
making event that utilized unused timber materials produced during
the thinning of Sakhalin spruce trees and forestry processes related
to painted maple trees (Acer pictum subsp. mono). We also planned
a workshop as part of the forest education aspect of our Tone
Forest activities with the goal of making children more familiar with
instrument production and trees. This workshop took the form of a32

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Yamaha Group Sustainability

E: Environment

S: Social

G: Governance

Environmental Management
Response to Climate Change
Sustainable Resource Use
Environmentally Friendly Products and Services
Protection of Biodiversity

castanet making event that saw participation by 53 individuals overits four-day span at the Yamaha Ginza Shop in March 2023.

Participation in Initiatives

producing quality Indian rosewood timber through cooperation withlocal companies, NGOs, and research institutions.

Indian rosewood logs and crosssection (bottom right corner)
collected from governmentmanaged lumberyard

Environmental Considerations for Timber Resourcesin Product Creation

Initiatives in India (Indian Rosewood)
Indian rosewood (Dalbergia latifolia) is a valuable tree species
associated with Southern India that is also an important material formusical instrument production used in guitar side and back panels.
In 2022, Yamaha commenced surveys on Indian rosewood forests,
cultivation, and replacement conditions and on supply chains thatcan connect trees in forests centered on the Southern Indian statesof Karnataka and Kerala to musical instrument materials. Indianrosewood timber traded on the Indian market sometimes originatesfrom trees grown in the wild and other times comes from trees
raised to provide shade in coffee plantations. However, natural
replacement of trees in forests in not advanced in either case,creating concerns for the sustainability of this resource. Goingforward, Yamaha intends to create and verify a business model for

Yamaha Sustainability Report 2023

Products Using Alternatives for Scarce Timber
Products / Services

Overview

Related pictures

Acoustalon™
Use of substitutes
glass-strengthened for scarce timber
plastic resin
in marimba soundboard parts

Adult Indian rosewood tree in
Karnataka State

Castanet making event heldat the Yamaha Ginza Shop
(completed castanets can beseen in bottom right corner)

Editorial Policy

Prevention of Pollution and Chemical Substance Management

Yamaha is advancing basic research on how to foster Sakhalin sprucetimber for use in musical instrument production at both existing
plantations and new locations. For example, we are engaged in joint
research on the growth and quality of Sakhalin spruce plantation
timber together with universities and research institutions as well as
forestry surveys of publicly and privately owned forests.

Tree planting event arranged aspart of the agreement with the
Okhotsk General Subprefectural
Bureau and the town of Engaru(October 2022)

External Recognition

The Yamaha Group is proactively utilizing wood cultivatedspecifically for industrial purposes on planned plantations as wellas certified wood, which is properly managed so that the lumbering
process does not harm the forest or ecosystems. The goal ofmeasures is to use the high-quality renewable resource of trees ona sustainable basis. In addition, the Group focuses on developing
alternative materials that accurately reproduce the superior soundquality of scarce wood materials best suited for instruments.

Products Designed with Consideration for Timber
Resources

Ebony-stylenatural wood

Substitute forblack piano key
parts made fromscarce ebony

Carbon bows

Use of substitutes
for brazilwood(Paubrasilia
echinate) and otherscarce timber

Products that Limit Chemical Substance Use(Enhancement of Timber Using A.R.E.*)
Products / Services

Overview

YVN500S acoustic
violins, L Series
acoustic guitars,etc.

Use of A.R.E.
treatment on
body materials
to improve soundcharacteristics
without usingchemical agents

Yamaha Hall in
the Yamaha Ginza
Building

Use of A.R.E.
treatment on
stage floor to
improve soundcharacteristics
without usingchemical agents

Products Designed to Conserve Natural Timber Resources
Products / Services

Overview

RGX-A2 electricguitarUse of afforested
timber in place of
natural timber

Related pictures

Related pictures33

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: Governance

Environmental Management
Response to Climate Change
Sustainable Resource Use
Environmentally Friendly Products and Services
Protection of Biodiversity* Acoustic Resonance Enhancement (A.R.E.) is Yamaha’s proprietary
technology for artificially stimulating the same changes in woodthat occur during natural aging in a short time to improve acoustic
characteristics. Through precise control of temperature, humidity, andatmospheric pressure using a specialized device, the acoustic propertiesof the new wood can be manipulated to realize a more ideal condition thatis similar to the acoustic characteristics of wood materials in instrumentsthat have been played for years. Prior timber enhancement technologies
often utilize chemical agent-based enhancement methods. A.R.E.,
however, does not use any chemical agents in the processing stage.
Therefore, this technology has a lower environmental impact.

Environmental Protection and Preservation
Initiatives
Preservation of Forests and Natural Environments
The Yamaha Group is committed to the preservation of forests andnatural environments, and we are therefore engaged in forestry
activities around the world with the goal of regenerating naturalforests and recovering biodiversity in a manner that is matched tothe conditions of the given regions.

Participation in Initiatives

planting saplings in a coastal forest that was seriously damagedby pine weevils. To date, we have planted more than 3,000 trees of
species including wax myrtle (Myrica rubra), Ubame oak (Quercus
phillyraeoides), Japanese spindletree (Euonymus japonicus), andChinese hackberry (Celtis sinensis). In recent years, we have beenplacing particular emphasis on black pine (Pinus thunbergii), whichis resistant to pine weevil damage, in our tree planting activities.
The planted trees have been growing steadily.

Based on this agreement, Yamaha Corporation has been working
to support the reforestation of the Enshunada Coastal Forest
owned by Hamamatsu City. These activities include continuously

Yamaha Sustainability Report 2023

Chemical Substance-Related Initiatives
To limit the impact of chemical substances on the environment andecosystems, the Yamaha Group is working to enhance management
and reduce usage of chemical substances while implementing
measures to prevent leakage.
Prevention of Pollution and Chemical Substance Management >Water Quality Preservation
These activities were given the certification label (smile label) by
the office overseeing supporters of future forests in Shizuoka in theForest Resources Division of the Environmental Protection Bureauof Shizuoka Prefecture’s Community and Environmental Affairs
Department. This label certifies that these activities serve as aphysical contribution (smile 1), a financial contribution (smile 2),
and a partnership with the region (smile 3).

Tree planting event (2022)

Grown pine tree

The Yamaha Group is building treatment facilities and conducting
monitoring and audits to prevent wastewater from business sites
from negatively impacting water and related habitats.
Yamaha Music Manufacturing Japan Corporation, which is locatedwithin the Yamaha Corporation Toyooka Factory, conducts the
production of wind instruments. Wastewater containing chemical
substances from the wind instrument production process at thiscompany is detoxified before being released into waterways.
Regular assessments of the impact of wastewater on ecosystems
are conducted. Moreover, the impact of such factory wastewateris evaluated using the bioresponsive Whole Effluent Toxicity
method,* and these evaluations have confirmed that the impact on
ecosystems is minimal.
* The Whole Effluent Toxicity method is a wastewater management methodthat evaluates whether wastewater from factories and business sites isharmful to ecosystems by measuring the impact on the existence, growth,and reproduction of aquatic organisms, such as algae, water fleas, andfish in diluted wastewater.

Prevention of Pollution and Chemical Substance Management >Enshunada Coastal Forest Recovery Support
In 2007, Yamaha Corporation signed a supporter of future forests in
Shizuoka agreement with Shizuoka Prefecture and Hamamatsu City.

Editorial Policy

Prevention of Pollution and Chemical Substance Management

Yamaha Forest Activities in Indonesia
Over the period spanning from 2005 to 2016, Yamaha carriedout Yamaha Forest activities together with local subsidiaries
in Indonesia to contribute to the local community through tree
planting. In these activities, we planted tree types selected basedon academic studies, and approximately 170,000 trees were planted
across an area of 176.7 ha. The Company has confirmed the statusof forest growth using satellite imagery and estimated the CO2
emissions absorbed by the planted trees. The Company estimatesthat approximately 42,000 t-CO2 have been absorbed to date.

External Recognition

Smile 1:
Physical
contribution

Smile 2:Financial
contribution

Smile 3:
Partnershipwith the region

34

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

S: Social
Yamaha recognizes that the foundation of responsible company
activities is respect for human rights. In addition to complying
with the standards in the human rights and labor sections ofglobal compacts, we respect diversity in employment and humanresource utilization, promote work-life balance, conduct various
Human Resources Development programs, and strive to establish
an environment where workers are able to sufficiently express
their sensitivity and creativity through communication between
employees and management.

Human Rights

System and Initiatives
Yamaha Corporation has established the Working Group for
Human Rights, DE&I under the Sustainability Committee tofacilitate responsible action for addressing the potential impacts
of its business activities on human rights. This working groupguides activities for preventing and reducing adverse impacts onhuman rights from our business activities. Moreover, reports onhuman rights and other sustainability issues are submitted to
the Board of Directors on a regular basis to facilitate oversight ofinitiatives on this front.

Human Rights Due Diligence

Basic Policies Regarding Human Rights
The Yamaha Group’s basic policies regarding human rights aredescribed in the Yamaha Group Human Rights Policy and in the
Yamaha Compliance Code of Conduct. Based on these policies, allGroup companies are required to conduct their business activities
with integrity and founded on respect for human rights. In addition,
suppliers are expected to adhere to the Yamaha Supplier CSR
Code of Conduct, which stipulates requirements for respect forhuman rights and appropriate labor practices. The Yamaha Group
Human Rights Policy was approved by the president and wasbased on advice from experts, opinions from Group companies, anddiscussion by the Managing Council of Yamaha Corporation.
Moreover, Yamaha Corporation is a signatory of the United
Nations (UN) Global Compact and thus endorses its principles
regarding respect for human rights.
Yamaha Group Human Rights Policy >Yamaha Compliance Code of Conduct (3-7 Prohibition Against
Forced Labor and Child Labor, 4-1 Respect for Human Rights andProhibition Against Discrimination) >Yamaha Supplier CSR Code of Conduct >Support for the UN Global Compact >Yamaha Sustainability Report 2023

We assess our activities across the value chain based oninternational norms on human rights and on the self-assessment
items of the UN Global Compact and actively engage indialogue with stakeholders and experts. Through this process,we identify and specify the human rights risks apparent in ourbusiness. Since 2019, the Yamaha Group has worked to identify
the material human rights issues faced in different industries
through participation in the Stakeholder Engagement Program ofCaux Round Table Japan. Our involvement in this project helped
us identify themes related to human rights issues pertaining to
raw material procurement (illegal logging), workers in the Groupand across the supply chain, customers (product and service
safety, protection of personal information), and the residents ofcommunities in which the Group has business sites.

These improvements included the preparation of a long list of
potential human rights issues based on international standards
and guidelines.* This list was then used to assess risks withconsideration given to the characteristics of the Group’s
mainstay musical instrument, audio equipment, and music school
businesses as well as the risks associated with the countries
and regions in which it does business. We thereby identified
17 material human rights issues from among the risks present.
With regard to these material issues, surveys are administered
to domestic and overseas Group companies to determine thepotential for human rights violations, the possible severity of such
violations, and any vulnerabilities in management systems andprevention measures. Moreover, analyses are being carried out toidentify human rights issues requiring priority response.
*Referenced international standards and guidelines include the UN Guiding
Principles on Business and Human Rights, the Universal Declaration of
Human Rights, the International Bill of Human Rights, the ILO Declaration
on Fundamental Principles and Rights at Work, the OECD Guidelines forMultinational Enterprises, the Ten Principles of the UN Global Compact,
the GRI Standards, the FLA Workplace Code of Conduct, the Corporate
Human Rights Benchmark (key industry risks), Caux Round Table Japan
Stakeholder Engagement Program reports, the SASB Materiality Map,
and the UN Environment Programme Finance Initiative Human Rights
Guidance Tool.

At the same time, the Yamaha Group inspects the implementation
status of the related rules, incorporates necessary items into
regulations and guidelines from a human rights perspective, andcarries out comprehensive human rights assessments performedby monitoring the compliance status with such rules.
In February 2022, we began working with experts to improve
the Yamaha Group’s human rights due diligence processes.

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Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

Consultation and Whistleblowing Systems

The Yamaha Group’s 17 Material Human Rights Issues
Stakeholders
IssuesCustomers

Employees

Business
Partners

Communities
and Society

1

Legal equality and prohibition of discrimination

●

●

●

2

Legal access to remedies

●

●

●

●

3

Consistent procurement practices (transaction management)

●

●

4

Harassment and abuse

●

●

5

Women’s rights

●

●

6

Child labor (respect for right to education)●

7

Forced labor●8

Occupational health and safety

●

●

9

Working hours (right to breaks and days off)

●

●

10

Safe work environment (including access to water)

●

●

11

Wages (right to a living wage)

●

●

12

Freedom of association and right to collective bargaining

●

●

13

Equal access to training and education

●

●

14

Intellectual property rights

●

●

15

Rights of indigenous people and local communities

16

Consumer interests (right to safety and access to information)●

17

Management of personal information of consumers●

Engagement with Stakeholders >Yamaha Sustainability Report 2023●

The Yamaha Group has set up compliance-related consultation
and whistleblowing systems for use by employees (including
contract employees, part-time employees, and dispatch
employees) inside and outside of the organization. Employees areable to receive consultation or make reports regarding harassmentand other human rights issues through these systems. In addition,
we have developed multilanguage email forms, and a dedicatedconsultation system for sexual minorities has been establishedwithin the personnel department in Japan. Information on therespective consultation venues for these systems is provided on
an ongoing basis through internal publications, notifications, andthe Company intranet in order to entrench awareness of thesereporting options.
Consultation and whistleblowing protocols have been establishedin accordance with internal regulations to protect those whoreport so that the Yamaha Group can defend whistleblowers’interests. Consultations and reports are investigated swiftlyand fairly, while protecting the privacy of those who report aswell as of the alleged offender, and instructions are issued
and other corrective measures are taken should problematic
behavior be identified. Even in cases in which strong requests
for confidentiality from those who report or the alleged offender
restrict investigations, the Group will take whatever steps possible
to improve its workplace environment as it seeks to rectify theissue and implement measures to prevent reoccurrence.

●

Furthermore, overseas Group companies are instructed to establish
external reporting venues and promote understanding among
employees while also preparing response manuals and providing
training on how reporting venues should accommodate consultations.
These measures are being taken to enhance the consultation andwhistleblowing systems of overseas Group companies.
Helpline Operation >36

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

Non-employee stakeholders are able to submit opinions andreports through the consultation venues available on Company
websites. In addition, Yamaha joined the Japan Center for
Engagement and Remedy on Business and Human Rights (JaCER)
in October 2022 and has begun accepting claims filed throughits Engagement and Remedy Platform. This platform is compliant
with the stipulations of the UN Guiding Principles on Businessand Human Rights and will be used to address the wide range ofhuman rights issues found across various value chains.
Japan Center for Engagement and Remedy on Business andHuman Rights (JaCER) >JaCER grievance submission form >Respect for Employees’ Human Rights
Fair and Impartial Hiring
In hiring and employment practices, the Yamaha Group practices
fair selection and ensures the absence of any form of discrimination
based on the Yamaha Group DE&I Policy in order to provide
employment opportunities to a diverse group of people. In
addition, Yamaha’s decisions regarding employee evaluations
and compensation are made in accordance with fair rules using
criteria such as the ability to perform tasks, job responsibilities,
and achievements. We also carry out training for managers involved
with evaluations in order to ensure their ability to make accurate
assessments.
3-5 Fair Evaluation and Compensation >4-1 Respect for Human Rights and Prohibition Against
Discrimination >Promotion of Diversity, Equity, and Inclusion >Human Resources Development >Yamaha Group DE&I Policy >Yamaha Sustainability Report 2023

Respect for Worker Rights
The Yamaha Group observes international treaties and regulations
and practices respect for the rights of workers, including therights to freedom of association, freedom of enrollment or
non-enrollment in labor unions, collective bargaining, andpeaceful assembly. Opportunities are provided for workers toengage in frank discussions with management without fear of
discrimination, reprisal, coercion, or harassment, and labor andother agreements are respected.
Communication between Management and Labor >Appropriate Wages and Working Hours
The Yamaha Group has established regulations stating thatwages are to be set that do not fall below the minimum wage or
the standard living wage of the respective region. In addition, theGroup complies with legal standards when determining working
hours and days, and steps are taken to reduce overall working
hours in order to prevent long or excessive working hours.
Promotion of Work-Life Balance >Prevention of Harassment
The Yamaha Group has defined in its Compliance Code of Conduct
its strict prohibition of harassment, an act that undermines people’s
human rights. Also, Yamaha Corporation and domestic Group
companies make it clear that harassment is a form of misconduct
warranting discipline and disclosure, taking a stern stance toward
all violations of human rights. The Group has also establishedcompliance-related consultation and whistleblowing systems
and institutes training sessions, seminars, and other education
programs with the goal of fostering a workplace environment free ofharassment. In order to prevent power harassment and other formsof harassment, manager training programs are implemented witha focus on acquiring harassment-related knowledge, developing
skills for instructing subordinates, and improving communication

between supervisors and subordinates.
We are also enhancing the education materials we provide
to employees through means such as the production of the
Yamaha Compliance Essentials, which are training tools forpromoting increased understanding of our code of conduct,
and the bolstering of monthly compliance-related information
communications. In fiscal 2022, compliance questionnaires wereadministered to domestic Group employees. These questionnaires
are conducted once every three years. The results of thesequestionnaires were used to analyze harassment risks on anorganizational level, and the findings were reflected in efforts toaddress identified issues and improve our corporate culture.
3-2 Prohibition Against Harassment >Human Rights Education >Human Rights and Labor-Related Compliance Violations
None of the compliance consultations or reports received in fiscal
2023 indicated violations of human rights or labor regulations orother serious compliance violations that are equivalent to such
violations.

Consideration of Human Rights in the Supply Chain
In the interest of furthering its policy concerning human rights
throughout its supply chain, the Yamaha Group is making the following
efforts. For more information, please refer to the following links.

• Establish CSR measures, including human rights, in theselection requirements for suppliers• Request that suppliers comply with the Yamaha Supplier CSR
Code of Conduct, which defines practices related to humanrights and labor (stipulated in basic transaction contracts), andthat suppliers carry out self-assessments based on the code of
conduct (correction is requested as needed) as part of humanrights due diligence37

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

Promotion of Social Responsibility in the Value Chain >Yamaha Supplier CSR Code of Conduct >Prohibition of Forced and Child Labor
The Yamaha Group Compliance Code of Conduct prohibits any
form of forced labor or labor by children under the minimum age
permissible by law. In addition, the Yamaha Group Labor and Human
Rights Specialized Rules, which were established based on internal
regulations, define the following measures for preventing forced laborand child labor.

• Confirmation of work credentials of foreign nationals• Investigation of whether fees are being imposed on workers thatcreate the risk of forced labor• Prohibition of requests that employees submit passports andother identification documents and restrictions on usage• Prohibition of inappropriate restriction of access to restrooms

Human Rights Education
The Yamaha Group encourages all employees to view humanrights as an issue that directly relates to them, and human rights
education programs are implemented to help us exercise ourcorporate responsibility to respect human rights. At domestic
Group companies, the Yamaha Human Rights Guidebook, which isavailable in Japanese and English, is used to provide opportunities
for all employees to think and learn about potential human rights
violations that may occur during their daily business activities andsteps to be taken to prevent said violations. Shared e-learning
programs are held based on the content of this guidebook, anda total of 3,935 individuals took part in these programs in fiscal
2023. In addition, Group companies are implementing their own
unique training programs, and human rights education programs
are currently in place at 44 of the 47 Yamaha Group companies
worldwide.

and right to free movement during breaks or after work

• Respect for employees’ right to resign freely given that they

Promotion of Diversity, Equity, and Inclusion

submit prior notification• Management copies of valid identification documents and otherdocuments that allow for confirmation of employees’ ages
• Prevention of workers under 18 from being assigned duties thatwould adversely impact their health or safety
In addition, the Yamaha Supplier CSR Code of Conduct defines
our prohibition of forced labor and child labor and requests
that our business partners adhere to these requirements. We
also ask business partners to perform self-assessments using
questionnaires and, based on the results, ask for improvement
measures when necessary.
3-7 Prohibition Against Forced Labor and Child Labor >Yamaha Supplier CSR Code of Conduct >Yamaha Group DE&I Policy
The Yamaha Group is advancing diversity, equity, and inclusion(DE&I) initiatives based on the following policy.
Yamaha Group DE&I Policy >Promotion Systems and Action Plans

Yamaha Human Rights Guidebook (Excerpt)
The Yamaha Group Labor and Human Rights Specialized Rules
specify the content required for human rights education programs.

Yamaha Sustainability Report 2023

Domestic and overseas Group companies are encouraged tospearhead their own human rights education programs, and theprogress of these programs is monitored.
Furthermore, the following training and education programs are
conducted in order to raise human rights awareness.
• Provision of human rights-related information pertaining to theGroup via the intranet as well as related e-learning programs• Quiz-style harassment prevention information programs
conducted via the intranet• Training sessions and workshops on workplace human rightsrelated themes (CSR procurement seminars for purchasing
representatives, human rights violation prevention workshops
for public relations representatives)• Publication of guidebooks in Japanese and English fordeepening understanding on how to produce advertisementsthat are more mindful of diversity• Seminars for officers and all other Group members

Since 2016, the Company’s Human Resources Division has
led efforts to promote DE&I through the establishment andimplementation of three-year DE&I action plans for individual
domestic Group companies and the sharing of examples of bestpractices between companies. In addition, the Working Groupfor Human Rights, DE&I was established under the Sustainability
Committee, an advisory body to the president, in 2021. This
working group is tasked with deciding directives for Groupwide

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Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

DE&I visions, medium- to long-term targets, and measures andwith monitoring the status of promotion of these measuresthroughout the Yamaha Group. Overseas Group companies
have been establishing and implementing action plans since
fiscal 2023. These plans are used to guide DE&I initiatives thatare founded on the conditions and cultures of the respective
companies and on regional cultures.
In addition, information is provided through intranet sites andunconscious bias and other training sessions are arranged toraise employee awareness and foster a culture committed to DE&I.

Support for Women’s Careers
As one facet of its diversity management efforts, the YamahaGroup strives to develop a workplace environment and systems
that are conducive to the careers of women.
In 2021, the Working Group for Gender Equality was establishedunder the Human Resources Development Committee as anadvisory body to the president. This working group is tasked
with offering advice regarding various initiatives for diversifying
management through the ongoing cultivation of female leaders,guiding the implementation of these initiatives, and periodically
discussing these matters with management. We are implementing
an action plan targeting a Groupwide average of 19% for theratio of female employees in management positions to beaccomplished by fiscal 2025, and progress toward this target
is monitored through dialogue with Group companies. Recent
initiatives have included joining the 30% Club Japan,*1 announcing
our endorsement of the goals of the Women’s Empowerment
Principles,*2 and other measures advanced based on thecommitments of senior management. The status of efforts to
support the careers of female employees is reported to the Boardof Directors.

*2 The Women’s Empowerment Principles were established jointly by the
UN Global Compact and the UN Development Fund for Women (currently
the UN Entity for Gender Equality and the Empowerment of Women).
These principles serve as a code of conduct for the empowermentof female employees with practical guidelines for investigating andanalyzing current corporate practices, standards, and actions.

30% Club Japan >Women’s Empowerment Principles >Action Plan
Yamaha Corporation is endeavoring to support the careersof female employees through the proactive recruitment andpromotion of women, the provision of an expanded array ofopportunities for developing skills, and the cultivation of acomfortable workplace environment. We are also implementing
training on unconscious bias and other education programs to
support these efforts. The Company is currently in the processof implementing the third phase of the three-year action planestablished based on the Act on the Promotion of Female
Participation and Career Advancement in the Workplace inMarch 2022. Domestic Group companies are also developing andimplementing action plans based on the aforementioned law.
Action Plan of Yamaha Corporation >Major Initiatives
Increasing of Ratio of Women among New Recruits
Yamaha Corporation has confirmed that its hiring standards areblind to gender and has taken steps to ensure that interviewers
do not make decisions based on unconscious bias.

Intranet site providing information pertaining to DE&I and worklife balance
For more information on Yamaha’s DE&I initiatives, please refer tothe following website.
Diversity, Equity & Inclusion >Yamaha Sustainability Report 2023

*1 The 30% Club is a global campaign founded in the United Kingdom
in 2010 with the goal of increasing the representation of women inboards of directors and other corporate decision-making bodies. This
organization has branches in 17 countries worldwide. The Japanesebranch, 30% Club Japan, is membered by senior managers of Japanesecompanies and has set the goal of having women represent 30% ofcorporate officers at TOPIX 100 companies by 2030.

Development of Female Leaders
Yamaha Corporation introduced mentoring programs in August2022 for the purpose of raising awareness and promoting skill
development among female employees. These programs havegenerated high levels of satisfaction and inspired self-leadership

39

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

Average Number of Years of Continuous Employment andRatio of Employees Returning to Work after Childcare Leave
Yamaha Corporation’s efforts to enhance work-life balance support
systems and improve workplace enablement and engagement haveresulted in a growing number of women who choose to continue theircareer after childbirth and other life events. There is no difference in the
average number of years of continuous employment between men andwomen, and the average number of years of continuous employment
for women for the Company is approximately 10 years longer than the
average for Japan. Moreover, Yamaha Corporation has maintained ratesof employees acquiring maternity and childcare leave of 100%.

among participants. We are therefore advancing plans forbolstering the number of mentors in the future.
Enhancement of Awareness and Fostering of Corporate Culture
To develop a workplace environment that encourages women todevelop their skills and make greater contributions, the Human
Resources Division arranges meetings with division heads andoffers support based on the findings of said meetings. Moreover,dialogue-based workshops, buddy meetings, and other programs are
implemented to ensure that division heads can advance initiatives withfull commitment. In addition, unconscious bias training was provided
to all managers over the period from August to September 2022. Posttraining surveys indicated clear benefits, prompting the Company toarrange such training for all employees in November of the same year.
Establishment of Work-Life Balance Support Systems
The Yamaha Group has established work-life balance support
systems that surpass legal requirements in order to ensure that
employees are able to continue their careers even after childbirthand other life events. For more information on Yamaha’s efforts toestablish and enhance work-life balance support systems, pleaserefer to the following link.
Promotion of Work-Life Balance >Indicators and Results Associated with the
Empowerment of Female Employees
Ratio of Female Employees in Management Positions
We have set the targets of achieving a ratio of female employees
in management positions at 9.5% for Yamaha Corporation and 19%
on a Groupwide basis by fiscal 2025. In fiscal 2023, the respective
figures for this ratio were 7.6% for Yamaha Corporation and 17.3%
for the entire Group.

Average Number of Years of Continuous Employment (Yamaha
Corporation*3, 4)

Ratio of Female Employees in Management Positions of Yamaha
Corporation (Left) and Yamaha Group (Right)
Note: Figures are as of March 31 of the respective fiscal years.

*3 Nationwide numbers are from results of the 2023 Basic Survey on Wage
Structure.
*4 Statistics for Yamaha Corporation are as of March 31, 2023.

More information on these and other initiatives for empowering
female employees is available on the ESG Data page as well as on
the following website.
Diversity, Equity, and Inclusion >Yamaha Sustainability Report 2023

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Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

International Women’s Day Initiatives
As part of its initiatives to celebrate International Women’sDay on March 8, 2023, the Yamaha Group has launched"Women Who Make Waves 2023," an interview project on its
website to introduce the voices of women engaged in musiceducation activities worldwide. This interview series features
34 female educators and artists from around 20 countries andregions who share their perspectives on music and education,
their ideas on diversity, and their messages for the womenand girls who will lead the next generation.

Moreover, each year’s International Women’s Day sees theenactment of various campaigns for casting light on thebenefits and challenges of promoting diversity and offering
opportunities to think about gender equality. In 2023,
messages from members of the Working Group for Gender
Equality, based on their respective perspectives, were
presented to Yamaha Group employees via the intranet anddigital signage.
Women Who Make Waves 2023 >management through the strategic development of candidates
for core positions, including future managers, as well as throughsuccession planning.
Furthermore, Yamaha Corporation is hiring employees fromoutside Japan, and as of March 31, 2023, 45 non-Japaneseemployees were employed by the Company. The Company isstriving to acquire a wide range of human resources by setting atarget for hiring employees from outside Japan and disseminating
recruitment information in English. As a result of these initiatives,in 2022 Yamaha Corporation received certification under the
Hamamatsu City Certification for Businesses with an Active
Global Workforce program, an award program that recognizes
companies promoting the inclusion of non-Japanese nationals
and Japanese of foreign descent in Hamamatsu City, where theCompany’s headquarters is located.
Information on the number of non-Japanese employees isavailable on the ESG Data page.

Utilization of Senior-Citizen Employees
Women Who Make Waves promotional image >Global Human Resource Utilization
The development and utilization of organizations and humanresources capable of driving global business development isimperative to the Yamaha Group. For this reason, locally hired
employees are appointed to important positions at Groupbases around the world. For example, the president of Yamaha
Corporation of America is a U.S. citizen, and is also an operating
officer of Yamaha Corporation. There are also presidents withGerman, French, Austrian, and U.S. nationality at companies that

Yamaha Sustainability Report 2023

Messages from members of the Working Group for Gender Equality

joined the Yamaha Group through acquisitions. To promote theglobal utilization of human resources, we are managing important
positions that are integral to management in a globally integrated
manner while developing rules for international relocations
along with frameworks that optimally position human resources
regardless of nationality. The Company has also put forth a
medium-term target of increasing the representation of nonJapanese individuals among corporate officers. In addition, we aresystematically cultivating personnel capable of practicing global

Yamaha Corporation and its domestic subsidiaries offer a systemthat provides willing employees with the opportunity to continue
working beyond age 60. Through this program, employees cancontinue working until they are 65 (188 individuals were using thissystem as of March 31, 2023). (Data by year is shown on the ESG
Data page.)
Yamaha Corporation revised this program in April 2020 to makefor a more focused system emphasizing ambition and roles. In
addition to establishing several work ranks and definitions basedon employee roles, the Company introduced goal management,
evaluation, and bonus systems and renewed benefit and leavesystems in line with those available to standard employees.

41

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

Employment of People with Disabilities
Yamaha Corporation is promoting employment for people withdisabilities while also developing working conditions conduciveto active participation by these employees. The Company strives
to encourage independence for people with disabilities and toachieve a society of coexistence, and it works to increase theskills of such employees and raise awareness within the Company.
As of March 1, 2023, 78 people with disabilities were employedat Yamaha Corporation, of which 42 were assigned to Yamaha Ai
Works Co., Ltd. The employment ratio of people with disabilities
has remained at the level of 2.4%, as stipulated by the revision to
the Act on Employment Promotion etc. of Persons with Disabilities
scheduled to be implemented in March 2024. Moreover, we are
implementing initiatives for promoting the employment of people
with disabilities including the arrangement of joint, Groupwide
liaison committee meetings.

*5 As of March 1 of each year
*6 Scope: Yamaha Corporation, Yamaha Corporate Services Corporation,
and Yamaha Ai Works Co., Ltd.
*7 Employment ratio of people with disabilities calculated using formula
described by the Act on Employment Promotion etc. of Persons with
Disabilities

Special Subsidiary*8 Yamaha Ai Works
Established in 1989, Yamaha Ai Works is contracted by
Yamaha Group companies to perform work tasks such asdata processing, printing, filling and sealing envelopes,
accounting, and benefit program and production-related
tasks. Additionally, this company dedicates efforts toactivities for informing and educating others about
employing persons with disabilities, holding learning
sessions regarding disabled employees and workplace
tours both internally and externally.

Employment Ratio of People with Disabilities*5, 6, 7

Understanding and Initiatives for LGBTQ+ Individuals
The Yamaha Group is promoting understanding of and offering
support for members of the LGBTQ+ community as an ally in Japanin order to build a better place to work for LGBTQ+ individuals andother sexual minorities and ensure that our business activities
respect diversity.
These efforts have been highly evaluated, and Yamaha Corporation(headquarters in Japan) has been awarded the highest rating of goldin the PRIDE INDEX, an index designed to recognize the initiatives ofcompanies and other organizations for supporting sexual minorities
like members of the LGBTQ+ community, for four consecutive years.
Furthermore, in November 2022 Yamaha Corporation declared
its support for the Business for Marriage Equality campaign,
which promotes marriage equality for same-sex couples via legal
recognition. Through this declaration, Yamaha reaffirmed its
commitment to contributing to the realization of a more equal andinclusive society, to offering greater support for members of the
LGBTQ+ community, and to creating workplace environments thatare conducive to contributions from diverse employees.
External Recognition >Special subsidiary
Hands-on wheelchair
workplace tour and learning training session
session*8 Special subsidiaries are subsidiaries that meet the definitionof the Act on Employment Promotion etc. of Persons with
Disabilities. These subsidiaries must meet certain criteria,
including those pertaining to the number and ratio of
employees with disabilities. People with disabilities employedby such subsidiaries are counted as employees of the parent
company when calculating its employment ratio.

Yamaha Sustainability Report 2023

Excerpt from the Handbook at
WorkYamaha LGBTQ+ logo

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Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

External Recognition
Recognition as Best Workplace in D&I Award 2022
Sponsored and organized by JobRainbow, the D&I Award isJapan’s largest award programfor certifying companies
that promote diversity andinclusion. In the 2022 iterationof this award program, Yamaha
received the highest honor ofBest Workplace. This honor
was only bestowed upon
128 of the 233 participatingcompanies (547 companies
when including jointly
D&I Award >applying group companies).

Ranking among Top 10 Japanese Companies in Termsof Gender Equality by
Equileap
In its 2022 Gender Equality
Global Report & Ranking,Equileap ranked Yamaha
Corporation No. 8 among
Japanese companies in termsof gender equality. A total of
3,895 companies from aroundthe world were surveyed in thecompilation of this report.

*9 "Eruboshi" is a program in which
the Ministry of Health, Labourand Welfare certifies companies
that have formulated action plans
for the promotion of women’s
participation and advancementin the workplace based on the
Act on Promotion of Women’sParticipation and Advancementin the Workplace enacted in April
2016 and that have conducted
excellent initiatives in this area.
Yamaha Corporate Services
achieved Level 3 "Eruboshi"
certification, the highest level, in
July 2018.

2023 Gender Equality Global
Report & Ranking >Yamaha Corporate Services Corporation has maintained certification
as a Platinum "Eruboshi"*9 company since 2021. Platinum "Eruboshi"

Receipt of Gold Rating in PRIDE INDEX for FourthConsecutive YearFor four consecutive years beginning with 2019, Yamaha
Corporation has been awarded with the highest rating of goldin the PRIDE INDEX,*10 an index compiled by work with Pride torecognize the initiatives of companies and other organizations
for supporting sexual minorities such as members of the LGBTQ+
community.
To date, the Company has advanced initiatives in support of the
LGBTQ+ community including seminars for all Group employees,
the production of a logo for its initiatives, the distribution of
stickers to display that we are an ally of the LGBTQ+ community,
and the production of tools for promoting understanding
regarding the LGBTQ+ community in the workplace. In addition,
we have established a consultation venue for LGBTQ+ issues
included same-sex partners and their children in the definitionof family members used for Company systems, and implemented
other frameworks to aid members of the LGBTQ+ community.

Platinum "Eruboshi"
certification markHamamatsu City Certification for Businesses with an
Active Global Workforce

Certification of Yamaha Corporate Services as a
Platinum "Eruboshi" Company

Yamaha Sustainability Report 2023

is awarded to those "Eruboshi"-certified companies that have met
requirements indicating excellence in terms of the accomplishmentof general business operator action plan targets and of initiatives
for promoting the participation and advancement of women in
the workplace. Yamaha Corporate Services has also received
Platinum "Kurumin" certification based on the Act on Advancementof Measures to Support Raising Next-Generation Children inrecognition of its proactive efforts to develop an environment that is
conducive to working while raising children.

In November 2022, Yamaha Corporation received certification underthe Hamamatsu City Certification for Businesses with an Active
Global Workforce program, anaward program that recognizes
companies promoting theinclusion of non-Japanesenationals and Japanese offoreign descent in Hamamatsu
City, where the Company’s
headquarters is located.

Initiatives in fiscal 2023 specifically included the issuance of an
official support statement on our corporate website in June, which
has been designated as LGBTQ+ Pride Month and is seen as atime for activities and events for promoting education regarding
the rights of members of the LGBTQ+ community. Other activities
during the month include the release of interviews, music videos,
and other content featuring LGBTQ+ artists. In this manner, we are
actively working to empower
sexual minorities.
The receipt of a gold rating in
the PRIDE INDEX is thought
to be a reflection of theevaluation of such initiatives.

PRIDE INDEX gold rating mark43

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development*10 Launched in 2016 by work with Pride, an organization that is assistingin the spread and popularization of diversity management pertaining tosexual minorities, the PRIDE INDEX is Japan’s first index for recognizing
the initiatives of companies and other organizations for supporting
sexual minorities such as members of the LGBTQ+ community. In thisprogram, the ratings of bronze, silver, and gold are assigned throughevaluations based on five categories: Action declarations, internal
sexual minority communities, education activities, human resource
systems and programs, and social contribution and public relations
activities.

External Recognition >Human Resources Development
Human Resources Initiatives
The Yamaha Group believes that diversity in human resources isa major contributor to the creation of new value. In accordancewith this belief, we aspire to provide opportunities for skill andcareer development to all human resources fairly and without
discrimination. Under the concept of supporting highly motivatedemployees who wish to fulfill their roles and aim to make constantprogress, the Group supports all employees in exercising theirtalents to the fullest and developing professionally while working
toward self-fulfillment.

Education and Training Programs
The Yamaha Group has established guidelines for Groupwide
education and training programs to facilitate the systematic
cultivation of human resources. Based on these guidelines,
we seek to create an education and training system that isequally focused on skill improvement and career development
as the basis for the development of globally successful humanresources. At the same time, training programs are tailored to
specific objectives and groups of employees.
We continue to conduct highly effective education and training

Yamaha Sustainability Report 2023

programs, even amid the restrictions imposed in response to
the COVID-19 pandemic, through the use of e-learning programs
utilizing videos as well as discussion-centered programs that takeadvantage of the characteristics of online meeting tools.
In fiscal 2023, the average number of training hours per employee
at Yamaha Corporation was 43.
Major Training and Education Programs (Japan)• Training by hierarchical levels: Improvement of individual skills
based on career stages (includes training for new employees,
managers, division heads, etc.)• Selective training: Cultivation of base leaders and managers• Yamaha Global Management Plan: Global selective training for
local overseas hires and other potential leaders• Career training: Cultivation of autonomous career developmentoriented mindset and individuals who can support career
autonomy• Skill/passion management program: Acquisition of situational
leadership skills• Yamaha Advanced Skill School and Yamaha Technology
Training School: Development of production site supervisorsand core workers• Function-specific training: Lectures for improving language
and technical skills• Support training regarding childcare leave: Training forindividuals scheduled to return from childcare leave and theirsupervisors to support a smooth return to work and careerdevelopment• Study abroad/language learning programs and open TOEIC
tests held on Company premises• Yamaha Business School: Distance learning for supporting
self-driven learning efforts of employees• Second Life Preparatory Seminar: Provision of information
regarding lifestyles and workstyles for people over 60

Support for Growth and Success
The Yamaha Group seeks to support the growth of employees andensure the evaluations of their successes reflect their ambitionand expertise.
Once a year, employees meet with their supervisors to confirm theiraptitude toward their current position, skills, and career goals. In
fiscal 2022, these activities included providing support materials
detailing how to carry out meetings as well as information forsparking career development motivation to both employees andtheir supervisors to facilitate more fruitful meetings. The range oftraining options offered by the Group was expanded in fiscal 2023
through the implementation of autonomous career development
workshops and career development support training. These
programs are designed to help foster individuals who are ambitious
about autonomous career development and capable of exercisingautonomy in making self-driven contributions to their organizations.
Plans for launching career counselor training programs for line
managers in fiscal 2024 are being formulated with the goal ofproviding more effective career counseling.
At Yamaha Corporation, training programs for junior employees include
meetings with human resources representatives held during employees’
second, fourth, and sixth years for the purpose of confirming theirdegree of growth in comparison with targets and their career plans andsharing opinions. The Yamaha Group provides comprehensive support
to all employees to cultivate their fundamental business skills, toheighten motivation, and to alleviate work-related concerns.
Furthermore, in order to ensure that these meetings are conducive
to fair evaluations and effective support for employee growth, theYamaha Group carries out evaluator training for the managers who
conduct meetings as well as mentor training for the employees
who will be responsible for providing on-the-job training.

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Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

We have also developed frameworks for facilitating communication
between the Company and people taking childcare leave, which
has the potential to upset one’s career plans. In addition, training
is held for both leave takers and their supervisors to offer suchindividuals support in relation to both awareness and skills and tothereby aid them in achieving a smooth return to work.

Development of Management Personnel
The Yamaha Group’s basic policy is to provide all employees equal
access to opportunities to develop their skills and careers. This
policy shapes our efforts to develop the management personnel
who form the backbone of business activities. In addition,
core positions are managed in an integrated, global manner tofacilitate the cultivation of human resources for core positions,
including future managers.
General training programs for management personnel include
extensive training based on hierarchical levels conducted on a
global and Groupwide basis in accordance with human resources
development guidelines. At Yamaha Corporation, training isorganized by hierarchical levels to provide personnel with theability to develop their skills as appropriate given their career
stage. In fiscal 2023, the Company moved forward with the second
phase of hierarchical level-based training for the heads of coreand other divisions in order to bolster its training programs forindividuals who are central to management. Efforts in fiscal 2024
are scheduled to include the advancement of the third phase of
the Yamaha Global Management Plan (see "Major Training and
Education Programs (Japan)" for more details) as well as programs
targeting individuals in core positions at domestic and overseas
Group companies.

Fostering of Human Resources to Support
Manufacturing
The Yamaha Group is committed to fostering human resources

Yamaha Sustainability Report 2023

that can contribute to the advancement of manufacturing.
With the goal of improving upon its "Made in Yamaha" quality,
the Group is clarifying the roles and functions of each of its
production sites while also fostering human resources that can
support the manufacturing activities at these sites. Plants inJapan are positioned as bases for manufacturing high-valueadded products. At these sites, we focus on cultivating humanresources that can support the development of competitive
manufacturing technologies, on developing core production site
workers (Yamaha Advanced Skill School and Yamaha Technology
Training School), and on transmitting the core skills required
to manufacture musical instruments to new employees (Fromto Program). Meanwhile, technicians and supervisors fromJapan are dispatched to plants in China, Indonesia, Malaysia,
and India to help cultivate personnel at these sites based on
the core manufacturing technologies developed in Japan. In
addition, shared, rank-based manufacturing training programs
are implemented to foster core human resources at these plants.
Moreover, shared curricula designed to heighten both work
skills and interpersonal skills are developed on an area-specificbasis for China and Southeast Asia. Based on these curricula, anaggregate total of 100 local employees have acted as lecturers,
providing training to the 200 core manufacturing employees inthese areas on-site, using actual articles, and under actual work
conditions. Through such ongoing training programs, we arereinforcing the foundations of the Yamaha Group’s high-quality
production bases.

Engineer Cultivation and Success Support
The Corporate Philosophy of the Yamaha Group is, "With ourunique expertise and sensibilities, gained from our devotion
to sound and music, we are committed to creating excitement
and cultural inspiration together with people around the world."
Based on this philosophy, we are exploring new technologies

and cultivating and supporting the success of engineers with thegoal of creating new value. The Yamaha Group has traditionallycultivated engineers for advancing product development throughcourses on digital signal processing and analog circuits, coretechnologies to the Group. In 2023, we introduced a total ofseven new courses for product development engineers with theaim of bolstering the technical synergies between our productdevelopment and manufacturing divisions. These courses cover
topics such as wood coating, plating, equipment control, andother production technologies.
Major Engineer Cultivation and Success Support Initiatives• Technology seminars and technical academic programs• Cross-organization technology forums and other opportunities
for information sharing and exchanges among engineers• Invention reward program

Technical Listening Training
Developing businesses in the fields of sound and musicrequires people who accurately understand the physicalquantity of sound and are able to explain this to others.
The Yamaha Group holds technical listening training
for engineers and other employees involved in soundrelated processes by utilizing the auditory sensitivity
development techniques that Kyushu University has
fostered for education purposes over the course of five
decades. This training systemically exposes participants
to changes in physical sound quantity and differencesin the impression of sound in order to foster an ability
to accurately comprehend the characteristics of soundin terms of physical quantity. The program also seeks
to endow participants with basic knowledge regarding
sound. To date, more than 1,000 individuals havecompleted this program.

45

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

Promotion of Work-Life Balance
Work-Life Balance Promotion Initiatives
In order to realize both expanded business activities and lifestyles
that offer personal fulfillment, we will proactively promote worklife balance that respects a wide range of values and lifestyles.
People can use the extra time created by increases in the quality
and productivity of work in many different ways, which in doing
so leads to the enhancement of the overall quality of life whileenergizing both body and mind. This energy can provide the power
for new value creation while contributing to the enhancement ofcorporate value and the realization of an enriched personal life.
In addition, the Yamaha Group has established the Work-Life
Balance Promotion Committee, which is jointly run by labor andmanagement, to guide its efforts to reduce total working hours
and establish and enhance work-life balance support systems
as part of its drive to create workstyles that are self-directed andproductive.

Yamaha Sustainability Report 2023

Prevention of Excessive Working Hours
The Yamaha Group aims to reduce overtime and weekend work,
both causes of excessive working hours, while enhancing its leavesystems and promoting their use.
To reduce total working hours, Yamaha Corporation establishedguidelines for overtime through a labor-management agreement.
Based on these guidelines, monthly working hours are monitored,
and prompt warnings are issued to divisions deemed to be atrisk of surpassing the limits set in the guidelines. In addition, thelimits for monthly working hours described in these guidelines arebeing reduced in a phased manner. In fiscal 2022, the Company
set targets of less than 60 hours of average monthly overtime andless than 540 hours of average yearly overtime. Specific initiatives
for reducing working hours include flextime systems, which havebeen in place for a number of years. In addition, the Company’s
prior approach of arranging days in which everyone is encouraged
to go home on-time every two weeks was revised in April 2022 todesignate Saturday and Sunday as days on which employees areprohibited from sending internal emails after 6 p.m. or exceeding
the defined working hours in order to encourage autonomous
workstyles. In addition, we have set goals for the number of daysof paid leave acquired each year and are encouraging systematicleave acquisition through a joint labor-management effort. To
further encourage leave acquisition, we reach out to people whohave not taken a sufficient number of days off as well as theirsupervisors and conduct follow-up monitoring while remaining
considerate of individual work circumstances. We have also
arranged days in which all employees are encouraged to take theday off to ensure that leave is taken. In addition to annual paid
leave days, we are developing a system for assorted types of leave,
including leave related to bereavement or celebration as well as
consecutive days of leave given upon company transfers, reachingretirement age, or reaching an auspicious age for the objective ofenhancing the personal lives of employees and supporting themduring major life events. These initiatives for reducing working
hours and encouraging leave are being sequentially deployedthroughout domestic Group companies.

Fiscal 2023
Total working hours per person at Yamaha Corporation amounted
to 1,937.7 hours in fiscal 2023. In addition, we have set a target of
having an average of 15 or more days of paid leave a year acquired
from fiscal 2017 onward. Leave acquisition rates are rising every
year, and, as a result of these efforts, the average number of paid
leave days used in fiscal 2023 surpassed this target at 16.3.
Data on total working hours and other data by year is shown on
the ESG Data page.

Improvement of Motivation and Workplace Comfort
Yamaha Corporation is revising its systems and frameworks withthe goal of realizing self-directed, highly productive workstyles
while also improving employee motivation and workplace comfort.
For example, we are enhancing our telework systems as well as
our childcare and nursing care support systems for all employees.
At the workplace level, efforts have included refining work
processes and streamlining meetings. Through these efforts, we
aim to develop flexible systems and workplace environments thatare accommodating of the circumstances of individual employees.
The hope is to allow our employees to exercise their skills while
maintaining good physical and mental health and living enriching
work and personal lives. Furthermore, a system was introducedin October 2021 that expanded the range of areas from which
individuals can commute should they need to provide nursing
care to family members and allowed employees to work in remotelocations to accommodate individuals who would normally beforced to live away from their family for work purposes.
Information on Yamaha Corporation’s workstyle reform initiatives

46

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

are communicated to Group companies through the intranet andother venues, and we have thus seen a rise in domestic Group
companies implementing similar initiatives.

Establishment and Enhancement of Work-Life
Balance Support Systems
The Yamaha Group is establishing and improving work-lifebalance support systems to respond to the varied circumstancesof individual employees. The use of these systems is being
promoted by spreading awareness among employees. In addition,
Yamaha Corporation has formulated an action plan based on
the Act on Advancement of Measures to Support Raising NextGeneration Children. The advancement of this plan led to theCompany receiving Platinum "Kurumin" certification* in 2016.
As for our systems for supporting employees in working whileraising children, a flextime system was introduced in June 2019
for employees working reduced hours for childcare purposes,
who would have previously still had to work set, albeit shortened,
hours. The scope of applicability for this system was thenextended from until an employee’s child completes third grade inelementary school to until they finish sixth grade.
In addition, the Company introduced systems that allow
employees to work fewer days a week or shorten hours for the
purpose of receiving medical treatment in fiscal 2021 to support
employees in balancing their work with their treatment, and wecontinue to expand the range of our support systems.
Information on the usage status of the childcare leave system is shown on
the ESG Data page.

Yamaha Sustainability Report 2023

Childcare, Nursing, and Medical Treatment Systems (Comparison with legal standards)
SystemMaternity leave

Legal standards

Yamaha Corporation

42 days before birth (98 days for multiple births), 56
days after birth

56 days before birth (98 days for multiple births), 56
days after birth

Difficult birth leave-

Number of days instructed by physician during
pregnancy or within one year of birth

Birth support leave-

Five days within a period spanning from 14 days
before spouse gives birth to 14 days after spousegives birthChildcare leave

In principle, until child becomes one year old (inspecial circumstances, this may become one year
and six months or two years)

Until child becomes two years old (however, forchildren born in April, until the end of April after thechild becomes two years old)Child nursing leave

Children not yet enrolled in elementary school

Until the end of March of the child’s first year inelementary school

Reduced working hours forchildcare

Until the child becomes three years old

Until the child completes sixth grade in elementary
schoolExemption from overtime
hours for childcare

Overtime work limited until the child becomes three
years old

Exemption from required overtime work until thechild completes third grade in elementary school

Life support leave
Scope of applicability fornursing care system

Spouse, child, mother, father, spouse’s mother orfather, grandparent, sibling, or grandchild

Leave that can be acquired in hour, half-day, or fullday increments for nursing care, childcare, infertility
treatment, or other purposes
Relative within two degrees of relation

Leave of absence for nursing Up to a total of 93 days per applicable family member Up to one year per applicable family membercare(possible to split into up to three leaves)(possible to postpone for up to six months)
Reduced working hours fornursing care

Two times or more within three years of start of use(separate from leave of absence for nursing care)

Shortened work week fornursing care-

Leave for nursing care

Five days per applicable family member; 10 days for
two or more persons

Until end of nursing care duties
Exemption from one work day per week until end of
nursing care duties
Five days per applicable family member

Reduced working hours forundergoing treatment-

Until treatment is over

Shortened work week forundergoing treatment-

Until treatment is over47

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

Establishment of On-Site Daycare Facilities
Yamaha Corporation has established an on-site daycare facility(Oto no Ie) at its headquarters.
Since 2019, Yamaha Group employees have continued to use
this facility, which is operated based on a unique program that is
distinctive of Yamaha’s commitment to providing opportunities
to encounter and engage with sound. Through this facility, theCompany aims to make it even easier for employees to return
to work, and, because their children are nearby, enable them tobetter focus on their work.

who left the Company in order to accompany a spouse on an
overseas assignment after returning to Japan. The scope of
this system, which was previously limited to individuals whose
spouses were Yamaha Corporation employees, was expanded infiscal 2017 to include individuals whose spouses were working for
Yamaha Group companies. In addition, this system is available for
employees accompanying spouses who do not work for YamahaGroup companies on overseas assignments, with a limit of five
years from their retirement. Since the program started in fiscal
2009, a total of 39 employees have submitted applications before
retiring. Of that number, 23 (as of March 31, 2023) have beenrehired after returning to Japan.
Rehiring Program for Workers Committed to Nursing CareIn July 2016, Yamaha Corporation introduced a system that allows
an employee to be rehired if they retired to provide nursing care
for a family member. In such cases, the valid re-employment
period is within five years of said retirement date.

On-site daycare facility (Oto no Ie)

Programs for Flexible Accommodation of Individual
Circumstances
Yamaha Corporation offers an ever-growing range of programs
that can be used to flexibly accommodate employee life events.
We have in place the following rehiring programs, and a system
was introduced in October 2021 that expanded the range of areasfrom which individuals can commute should they need to provide
nursing care to family members and allowed employees to work inremote locations to accommodate individuals who would normally
be forced to live away from their family for work purposes.
Rehiring Program for Family Members Accompanying Spouses
on Overseas Assignment
Yamaha Corporation has in place a system to rehire employees

Yamaha Sustainability Report 2023

External Recognition
Yamaha Corporation has formulated an action plan based on
the Act on Advancement of Measures to Support Raising NextGeneration Children. Through the advancement of this plan, theCompany was able to receive "Kurumin" certification in 2008 andPlatinum "Kurumin" certification* in 2016.
In 2018, Yamaha Corporate Services Corporation (then Yamaha
Business Support Corporation) received "Kurumin" certification,and this company went on to earn Platinum "Kurumin"certification* in 2020.

Acquisition of Certification Related to Support for Developing
Future Generations*Certification Date acquired

Main measures implemented• Extension of childcare leave
period, etc.

Aug. 2008"Kurumin"Aug. 2014• Implementation of more flexible
reduced working hours forchildcare system• Mandatory Group paid leave
program, etc.

• Work-life balance seminar• Implementation of All Go Home at
the Same Time Day, etc.

Platinum"Kurumin"Jun. 2016• Encouragement of male employees
to take paternity leave• Shortening of working hours, etc.

* "Kurumin" is a Ministry of Health,Labour and Welfare system for certifying
companies based on the Act on
Advancement of Measures to Support
Raising Next-Generation Children.
Company action plans and performanceare reviewed in accordance with the Act for
Measures to Support the Development of
the Next Generation. Certified companies
are allowed to display the "Kurumin"mark. Platinum "Kurumin" is a system thatcertifies, among the companies that haveacquired the "Kurumin" mark, companies
that conduct initiatives to support work-lifebalance at or above a specific standard.

External Recognition >Platinum "Kurumin"certification markrecognizing support
for developing future
generations48

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

Communication between Labor and Management
Labor-Management Dialogue
The Yamaha Group observes international treaties and regulations
and practices respect for the rights of workers, including therights to freedom of association, freedom of enrollment or
non-enrollment in labor unions, collective bargaining, andpeaceful assembly. Opportunities are provided for workers toengage in frank discussions with management without fear of
discrimination, reprisal, coercion, or harassment, and labor andother agreements are respected. Furthermore, in exercising its
Corporate Philosophy, employees and management strive toachieve favorable relationships based on ample communication.
3-3 Favorable Employer-Employee Relationships >Fostering of Healthy Relationships throughCommunication between Labor and Management
One of the policies contained in the Yamaha Group Policies is"maintenance and construction of a healthy labor-management
relationship," and the Group conducts labor-management
dialogues between management and the labor unions or employee
associations set up in each Group company.
At Yamaha Corporation and Group companies in Japan, labormanagement council and liaison conference meetings are held
regularly to discuss the status of operating results and labor affairs
as well as business challenges. In addition, Group companies
are aiming to improve work-life balance and create better
work environments through the joint efforts of employees andmanagement. At overseas Group companies, dialogues between
employees and management are proceeding in accordance withthe labor laws of each country. At Yamaha Corporation, joint
management council meetings are held regularly so that criticalmanagement issues can be examined and discussed between labor

Yamaha Sustainability Report 2023

and management. These meetings allow participants to hear fromlabor unions about current working conditions and engage in lively
discussions. The administration and revision of various programs
related to human resources and labor are conducted after thoroughdiscussion based on labor and management’s perceptions of theissues at hand. The results of these discussions are communicatedto employees through the reports issued by companies and labor
unions. In addition, labor agreements stipulate that changes
to business operations with the potential to materially impact
employees, such as relocations stemming from organizational or
position changes or staff reallocations, warrant prompt notification
to labor unions or labor-management discussions. Labor union
officials also participate in the running of systems that have asignificant impact on employees, such as corporate pension funds,

health insurance unions, the Mutual Aid Foundation, and employee
stock ownership plans.
The Human Resources Division of Yamaha Corporation monitors
domestic and overseas Group companies to ensure that laborand management communicate effectively with each other inaccordance with the Yamaha Group Policies, and requests forcorrective action are issued when needed. Furthermore, Education
Guidelines for Labor and Labor-Management Relations have been
established to ensure that the managers of Group companies andothers in managerial positions properly understand the rights ofworkers and are able to build healthy and stable labor-management
relationships. Education programs are monitored to confirm thatmanagers are being trained in accordance with these guidelines.

Yamaha Corporation Labor and Management Conferences and Committee Meetings
Name

Frequency

Participants

Main topics

Joint
Twice per year Company: President, directors in charge ofManagement (August andbusinesses (office head)CouncilFebruary)
Unions: Central Executive CommitteCompanywide management issues

Companywide
Production
Monthly
and Sales
Committee

Company: Director in charge of human resources,
Human Resources Division (department managers
and personnel in charge of labor administration)
Unions: Central Executive Committee

Monthly topics (tentative settlement report and labor
conditions)

Business Site
Labor andMonthly
Management
Committee

Company: Business office managers, businessoffice division administrators
Monthly production and sales trends by division; reports
Unions: Branch Executive Committee (Central on labor conditions
Executive Committee)
Company: Human Resources Division(director in charge of labor administration andpersonnel in charge of compensation)
Unions: Central Executive Committee

Allocation
Committee

Twice peryear (May andNovember)Work-Life
Balance (WLB)
Promotion
Committee

As necessary;Company: Human Resources Division
reports(personnel in charge of labor administration)
published atUnions: Central Executive Committee
least once a year

Changes to basic salaries and bonuses
Measures for reducing long and late-night working hours,
encouraging the acquisition of paid vacation days, constructing
and improving systems to support work-life balance, andvarious other initiatives related to work-life balance

Note: In addition to the above, meetings of the Overseas Work Committee, discussions of annual operation schedules, report briefings on the business outlook for individual
departments, and labor-management discussions on Company/division policies and on measures to address issues that come to light at union meetings are held.

49

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

Rate of Unionization*1, 2 (Fiscal 2023)

Employee Engagement Survey Statistics

Yamaha Corporation (includes employees
seconded to other companies)

77%

TimingDomestic Yamaha Group companies*3

52%

Fiscal 2021
(October 2020)

6,663 domestic Group
employees

Approx. 97%

Fiscal 2022
(March 2022)

11,777 Group employees

Approx. 89%

Fiscal 2023
(March 2023)

11,547 Group employees

Approx. 82%*1 Managers are included in the calculated figures.
*2 The right to collective bargaining of labor unions is respected.
*3 Scope of statistics: Yamaha Music Japan Co., Ltd.; Yamaha Music RetailingCo., Ltd.; Yamaha Music Manufacturing Japan Corporation; Yamaha Fine
Technologies Co., Ltd.; and Yamaha Corporate Services Corporation

Scope

Response rate

Data by year is shown on the ESG Data page.

Employee Engagement Surveys
In February and March 2023, surveys on employee
engagement were administered to the approximately
12,000 employees of domestic and overseas YamahaGroup companies. The response rate was roughly 82%.
Administered every year since fiscal 2021, these surveys aredesigned to track metrics pertaining to organizations andemployees and to identify issues so that this information
could be used to energize organizations, improve employee
motivation and workplace comfort, and ultimately spur themutual growth of employees and the Company.
Questions pertaining to employee motivation assessed
whether employees held pride in working for the YamahaGroup and felt that they were able to grow through theirwork. Questions pertaining to workplace comfort examinedcircumstances surrounding team relationships, cooperation
with colleagues and supervisors, and organization
openness. The findings of these surveys will be utilized
going forward in order to shape ongoing initiatives for
improving the Company and its organizations.

Yamaha Sustainability Report 2023

Communication with Employees
Labor-Management Information Sharing andExchanges
Yamaha Group companies promote communication with labor
unions and employee associations in order to foster cultures of
earnest, mutual understanding between labor and management.
In Japan, we engage in labor-management information sharing
and exchanges together with the Yamaha Union Conference,*4
which is formed by the labor unions and employee associationsof domestic Group companies, through regular labor andmanagement liaison meetings.

the Public Relations Division of Yamaha Corporation, offers swift
notification of policies and strategies related to management
and business activities. This magazine also covers topics fromvarious departments and Group companies in order to share
information across the entire Group. In China and Southeast Asia,
where the Group positions production sites, regional internal
newsletters are issued in Chinese and Indonesian. In addition
to information on the Group as a whole, information on a range
of initiatives, including operational improvement and health andsafety activities at Group production companies, is provided tocontribute to the mutual development and sense of oneness ofGroup companies. We also offer Yamaha Portal, a Group portalsite used for the timely transmission of important management
information and to consolidate notifications, division-specificpostings, and other information for internal use. This portal site
also provides introductions of Group activities around the world
and functions as a venue for promoting communication among
Group employees, making it a vital source of information for
Yamaha Group employees.
These information provision initiatives are complemented byefforts for invigorating internal communication and improving
employee engagement. Examples of these efforts include the
Yamaha Day global event held around the anniversary of theCompany’s founding, awards presented by the president, anddiscussions between management and employees.

*4 The Yamaha Union Conference was established in September 1990.
Along with deepening solidarity among members of the Yamaha Group,
the conference works to further the development of organizations, create
better working environments, improve labor conditions, conduct social
contribution activities, and exchange a wide range of information aimed
at enriching personal lives.

Promotion of Employee Relations
As part of its employee relations activities, the Yamaha Group
provides information via internal newsletters, its intranet, andsignage. The Group magazine, which is issued and distributed by

Yamaha Awards program inwhich awards are presented by
the president

Yamaha Day global event

50

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

Discussions between the President and Employees
Discussions are arranged between the president and employees
on an ongoing basis as one facet of our efforts to foster an openorganizational culture. In fiscal 2023, these discussions took the form of
21 online conversations, in which a total of 268 employees participated,
and four workplace visits by thepresident, during which he spokewith 55 employees. Over the three
years since 2020, the president
has taken part in 80 online
discussions and five workplace
visits, speaking with a total of
Online conference between thepresident and employees
more than 1,000 employees.

Family Factory Tours
Communication between Production Sites and Employees
Yamaha Group production sites inside and outside Japan holdfamily factory tours for employees’ families. In addition toobserving workplaces and production processes, these tours
provide an opportunity for families to deepen their understanding
and interest in the Group through hands-on experience of the
products manufactured at factories and through mini-concertsby employees themselves.
Yamaha production sites worldwide utilize in-house social media
tools for promoting workplace communication. Messages frommanagement and internal information is shared in real timethrough these tools in order to heighten employee engagement.

employees. The Group promotes health and safety activities basedon the Standards and Basic Policy for the Group Occupational Healthand Safety Management Policies & Rules, which can be found below,
and we aim to continually enhance the level of our health and safety.

Employee Health and Safety
Health and Safety Initiatives
The Yamaha Group believes that one of its most importantmanagement issues is ensuring the health and safety of its
Activity Policies, Targets, and Performance
Activity policies / Key points of activities

Yamaha Sustainability Report 2023

Performance for fiscal 2023

Targets for fiscal 2024

Prioritization of health and safety
Occupational over everythingsafetyCreation of frameworks supporting
office and business site autonomy• 54 total occupational accidents (accomplishment of • Less than 45 total occupationaltarget of less than 54 total occupational accidents)
accidents• Zero accidents resulting in fatalities or casualties • Zero accidents resulting in fatalities orLegal compliance and elimination ofserious accidents
Transportation Improvement of safety awareness,
accidents
response to changes in road- andtransportation-related legislation, andprevention of transportation accidents• 63 total transportation accidents (failure

Prevention of excessive work
Labor
hours
management Monitoring of work hours andawareness raising

Family factory tour (Hangzhou Yamaha Musical Instruments Co., Ltd.)Standards and Basic Policy for the Group Occupational
Health and Safety
Management Policies & Rules
In accordance with the basic policy of prioritizing healthand safety over everything, Group companies will work
together with all employees to create comfortable workplaceenvironments to ensure the health and safety of all YamahaGroup employees during the course of their work.

Social media app (Yamaha Music
Manufacturing Japan Corporation)

Promotion of health improvement
HealthPromotion of regular healthmanagement checkups and support for quitting
smoking(accomplishment of target of zero accidents)

casualties

to accomplish target of less than 60• Less than 55 total transportationtransportation accidents)
accidents• Four serious accidents attributable to• Zero serious accidents attributable tonegligence during business activities (failure negligence during business activities
to accomplish target of zero accidents)
Target set for fiscal 2024

• Zero individuals working more than 60 hours ofovertime a month for three consecutive months• Zero managers working 100 hours ofovertime a month• Regular health checkup rate consistentlyof 100% (maintained for five consecutive
years)• Prohibition of smoking on premises of all
domestic Group companies• Regular health checkup rate of 100%
• Regular health checkup rate of 100% overseas• Individual support for employees wanting
to quit smoking

51

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

Priority Initiatives under Medium-Term Management Plan
(Fiscal 2023-2025)
Theme

Progress in fiscal 2023

Plan for fiscal 2024

Entrenchsafetyeducation

Support for occupational
health and safety activities
of Group companies,
examination of potentialtraining tools for new hires,and development of danger
prediction training tools

Development
and expansionof training tools
for new hires andimplementation ofdanger prediction
training tools

Trial introduction of new support
Redevelop
systems by revising programs
mentalfor supporting individuals
healthcare
returning to work after leave forframeworks
mental healthcare issues

Full-fledged
introduction of
new support
systems

Health and Safety Management System
At the Yamaha Group, the Industrial Safety and HealthCommittee is responsible for health and safety management
at all Group companies. Overseen by an operating officer of
Yamaha Corporation and comprised of representatives frombusiness sites and major Group companies as well as the headindustrial physician, the committee meets twice a year to receive
progress reports on and review the Group’s health and safety
initiatives and to discuss and decide policies and action plans.
The committee also reports to the Board of Directors on thestatus of important occupational health and safety activities,
including those pertaining to the prevention of excessive work
hours. In addition, at the start of each fiscal year in April, theGroupwide Health and Safety Convention is held. This convention
includes the distribution, to domestic and overseas employees,of messages from the president and the heads of labor unions aswell as an overview of activities from the previous fiscal year andexplanations of policies and targets for the current fiscal year

Yamaha Sustainability Report 2023

from the respective managers. The videos distributed as part ofthe convention reiterate the importance of health and safety indeveloping workplaces offering peace of mind in accordance withthe basic policy of prioritizing health and safety over everything.

Video message from thepresident

Explanation of fiscal 2023
activities and fiscal 2024 activity
policies and targets fromrespective manager

Acquisition of Certification for Occupational Healthand Safety Management System
The Group Occupational Health and Safety Management Policies& Rules defines our commitment toward maintaining the healthand safety of all people connected with Yamaha businessactivities, and we are moving forward with the codification andstandardization of the rules and activities necessary for fulfilling
this commitment.
Occupational health and safety management is practiced
targeting everyone working at the Yamaha Group, including fulltime employees, contract employees, dispatch employees, andsubcontractors, and the Group is working to acquire certification
for its occupational health and safety management system atmusical instrument and audio equipment production sites. In
addition, internal auditors are fostered through ongoing training
so that these individuals can perform audits to assess whether
the rules and activities stipulated by occupational health andsafety management systems are being properly implemented.
Currently, 60 such internal auditors are employed by the YamahaGroup worldwide.

ISO 45001-Certified Sites*1• Yamaha Music Manufacturing Japan Corporation• Hangzhou Yamaha Musical Instruments Co., Ltd.
• Xiaoshan Yamaha Musical Instruments Co., Ltd.
• Tianjin Yamaha Electronic Musical Instruments, Inc.
• Yamaha Electronics (Suzhou) Co., Ltd.
• PT. Yamaha Music Manufacturing Indonesia• PT. Yamaha Music Manufacturing Asia
• PT. Yamaha Musical Products Indonesia• PT. Yamaha Musical Products Asia
• PT. Yamaha Electronics Manufacturing Indonesia• Yamaha Electronics Manufacturing (M) Sdn. Bhd.
• Yamaha Music India Pvt. Ltd.
*1 Note: Certification has been acquired for 12 (80.0%) out of 15 musicalinstrument and audio equipment production sites (as of April 30, 2023).

Formal Labor Agreement Concerning Safety and
HealthThe formal labor agreement that Yamaha Corporation has withthe labor union states, "The Company must take all necessary
measures to ensure safe, healthy conditions at its factories andimprove its work environments while union members must uphold
all rules concerning safety and health. The Company and union
shall also work together to improve union members’ knowledgeof safety and health." The agreement also establishes provisions
concerning matters such as the Safety and Health Committee,
dangerous and injurious work, medical examinations, andaccident compensation.

Occupational Accident Prevention Measures
The Yamaha Group takes steps to prevent occupational accidents
by improving workplace safety through risk assessments,
monitoring via dedicated staff, self-directed health and safety
diagnoses at individual bases, audits of the safety of equipment

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Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

and machinery, and chemical substance management. In addition,
we perform health and safety training and drills for employees
and establish and implement Group standard safety rules.

Risk Assessments
The Yamaha Group positions risk assessments as an importantpractice for preventing workplace danger risks from actualization.
Based on this recognition, the Group engages in activities
to prevent occupational accidents. These activities focus onassessing risks related to work content and work environments
while putting in place measures corresponding to the degree ofrisk. Also, before commencing new work procedures, all potential
risks are assessed, and measures are implemented to mitigate
risks and reduce the burden placed on employees. Currently, theGroup is providing education on, and ensuring the implementationof, risk assessments at Group companies and production sites inJapan and overseas.

over a cycle of a few years.
Patrol numbers are shown on the ESG Data page.
Details of Comprehensive Health and Safety Monitoring• Health and safety level checks based on a health and safety
management analysis table (approximately 80 items focusing on
the level of health and safety management systems, regulations,and standards)• Workplace inspections to check health and safety measures andto correct and provide guidance on problematic areas

Comprehensive Health and Safety Monitoring
In addition to on-site surveys at ISO 45001-certified sites,
comprehensive health and safety monitoring is conducted at
Group companies under the guidance of the Human Resources
Division of Yamaha Corporation, which oversees Groupwide healthand safety management. Staff possessing expert techniquesor certifications related to health and safety conduct checks ofworkplaces and compliance with health and safety management
systems. The sites at which patrols will be conducted are selected

Yamaha Sustainability Report 2023

Facility safety survey atoverseas production baseConfirmation of safety whenrepositioning equipment

Self-Directed Health and Safety Diagnoses
The Yamaha Group’s non-production companies in Japan carryout self-directed health and safety diagnoses that focus oncompliance with legal requirements and are based on the numberof employees. After examining the results of diagnoses, the healthand safety managers of specific bases provide feedback and give
support for compliance and improvement measures. In fiscal
2023, diagnoses were carried out at 46 sites.

Machinery and Equipment

Risk assessment at overseas basesite and to improve safety levels. Furthermore, Yamaha regularly
conducts evacuation drills and emergency response drills to
prepare for disasters.

The Yamaha Group requires that safety inspections be performed
by inspection committee members prior to the start of operationof machinery or equipment newly introduced at production
sites and of equipment that has been upgraded, renovated, or
relocated. These inspections look for defective areas while also
providing guidance regarding operating procedures, material
processing methods, and handling of solvents and chemicals.

Production Site Facility and Equipment Safety
Management
At production sites inside and outside Japan, Yamaha Corporation
facility management personnel conduct facility safety surveys
of production equipment to prevent accidents and disasters on-

Evacuation drill at overseas production baseChemical Substance Management
In the production process, there are some tasks that require
employees to handle chemicals with the potential to cause
bodily harm. Accordingly, Yamaha Corporation is taking several
measures to prevent occupational illnesses, such as improving
workplace environments and equipment, requiring that workers
undergo specialized health examinations, and supplying
protective equipment.
Additionally, training is provided to workers to enable themto wear protective equipment correctly. The Company is also
conducting regular risk assessments of workplaces that handlechemical substances to promote autonomous management ofthese substances.

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Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

In fiscal 2023, there were no occupational accidents associatedwith processes that entailed the handling of chemical substances.

Designated Health Examinations
To prevent occupational illnesses, we promote specialized healthexaminations that effectively and accurately target individuals
designated as being at risk of such illnesses. The employees
taking part in these examinations are confirmed twice a year to
avoid applicable employees being overlooked due to relocations orchanges in work responsibilities. In addition, health examinations
testing for specified chemicals are conducted with a wider scopeof target chemicals and more stringently defined limits than those
stipulated in legal requirements.

Health and Safety Education and Training
Occupational Health and Safety Education for New Employees
The Yamaha Group conducts health and safety education at thestart of each fiscal year for new employees at Group companies inJapan in order to deepen their knowledge of occupational healthand safety. In fiscal 2023, these sessions spanned a total ofaround five hours (over three sessions), covering topics including
health and safety, transportation safety, and mental health, andwere attended by 101 new employees.
Intra-Group Coordination for Promoting Health and Safety
Education and Training
The Yamaha Group is committed to the development of
workplaces where everyone can feel safe and secure with no fearof occupational accidents. To this end, we are ramping up healthand safety training through a Groupwide campaign advanced via
coordination between labor and management. In fiscal 2023, welaunched rank-based training programs for secretariats and othercore health and safety staff. Comprised of awareness, knowledge,
and technical courses, these programs targeted production basesin China, Indonesia, and Malaysia. Going forward, we intend to

Yamaha Sustainability Report 2023

expand the scope of these programs and administer them toindividuals who are not part of the core health and safety staff.
In addition, area safety committees are assembled in Japan,
China, and Indonesia with membership from the health andsafety staff of the production bases in these areas. Meetings ofthese committees are used as opportunities to discuss accident
prevention measures based on information about accidents
that have occurred at the Yamaha Group, confirm the status ofactivities based on ISO 45001, and otherwise take part in brisk
discussions for sharing information on and standardizing rules
and activities. These meetings thus serve as opportunities forexchanges between the health and safety staff of different bases.
We are examining the possibility of forming such committees in
Malaysia, India, and Europe in the future.
Safety Dojos
The Yamaha Group has set up safety dojos at production bases.
These educational facilities, which are designed to help heighten
sensitivity toward danger, are used to hold danger experience
workshops. Safety dojos contain apparatuses that allow employees
to experience, in a safe environment, the dangers of becomingcaught in machinery, set on fire, or electrocuted. The facilities arealso used to introduce employees to safety provisions including
safety devices, protective gear, and disaster preparedness items. The
safety-related experiences provided by these facilities have beenrevised from the perspectives of all four elements of the accident
mechanism: People, equipment, management, and workplaceenvironment. We thereby refined danger experience apparatuses
so that they better communicate the unsafe conditions and actions
that can result in accidents. The goal of these efforts is to heighten
the receptiveness of employees to danger and to allow employees
to use what they learned at safety dojos to drive improvements attheir workplaces. The Group is currently in the process of expanding
the utilization of safety dojos with the aim of making such facilities
available to all employees working at production bases.

Safety dojos in Indonesia (left) and Japan (right)

Establishment and Standardization of Rules
The Yamaha Group has been systematically establishing safety
rules relating to people and their surroundings, such as the
expected attitude toward health and safety, a basic code of
conduct, and equipment standards. These rules have been
compiled into tools, such as portable cards, to facilitate theirimplementation. We are currently working to translate each tool
into multiple languages as we head toward the Groupwide rolloutof the Group standard rules (regulations and standards) with theaim of improving the level of health and safety and eliminating
any gaps in standards among Group companies.

Occupational Accident Statistics
In fiscal 2023, the number of occupational accidents at domestic
Group companies and overseas production sites was 54 (of which
33 required time off from work), compared with the target of 54,
and there were no fatalities.

Breakdown of Occupational Accidents• Number of accidents during operation of power tools: 13
Main accident timings: Preparation, cleanup• Number of accidents due to human error: 19
Main accident timings: Transportation processes, work using
hand tools, handling of heavy objects, cleanup, etc.
• Number of accidents due to daily activities, etc.: 22Main accident timings: Walking

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Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

Occupational Accident Frequency Rate
Yamaha Group Health Declaration"Sound Minds + Sound Bodies = Sound Living"• The health of our employees and their families isfundamental to allowing them to lead fulfilling lives andis of the utmost importance to Yamaha.
• Yamaha will actively support initiatives in aid of
employee well-being, and will create safe, comfortableworkplaces.
• Yamaha employees and their families should maintainan awareness of their physical and mental health, andtake the initiative in acting to improve their wellness.
Note: Figures represent the frequency rate of occupational accidents
resulting in lost time. Figures for the manufacturing industry are based on
annual occupational accident surveys by the Ministry of Health, Labour andWelfare.

Takuya Nakata
President and Representative Executive Officer
April 2018

diligently offering general health checkups, which are mandatory
under Japanese law, Group companies in Japan use healthcheckups as opportunities to try to prevent lifestyle- and workrelated diseases based on the slogan of "regular health checkups
are the start line, not the goal." Since 2002, in-house healthclinics have performed regular health checkups of employees(in the month of their birthday). On the morning of checkups,
all employees undergoing checkups are provided with guidancefrom physicians based on the results of their checkups, other
health guidance, and group health education. The speed of thisfeedback, as well as the group health education conducted basedon a different theme each year, have contributed to an increased
level of health awareness and understanding among employees.
Additionally, we take thorough follow-up measures based on
checkup results. In fiscal 2023, Yamaha Corporation and domestic
Group companies had a 100% examination completion ratio, while
an industrial physician made work category decisions*2 for 100%of cases for both Yamaha Corporation and the Yamaha Group.

Employee Health Promotion Initiatives
The Yamaha Group places the health of its employees and theirfamilies as its top priority. Employee health is linked to higher
productivity and motivation and, consequently, to the energizationof organizations. Based on this recognition, we implement
various initiatives for promoting employee health. The presidentof Yamaha Corporation issued the Yamaha Group Health
Declaration in 2018. The declaration guides us in promoting
health management through health checkups, health guidance,
mental healthcare, measures for helping employees stop smoking,and other initiatives for building safer and more comfortableworkplaces.

Health Checkups
The Yamaha Group encourages employees to undergo healthcheckups that help protect and improve health. In addition to

Yamaha Sustainability Report 2023

*2 Work category decisions by industrial physicians are based on Article
66.4, 5 of the Industrial Safety and Health Act. In these decisions, theCompany determines the work category for health checkups for eligible
employees based on an industrial physician’s opinion.

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Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

Mental Healthcare
In order to maintain the mental health of its workers, Yamaha
Corporation is taking steps toward disease prevention byimplementing a stress check system and promoting other mental
health activities based on the policies of the Ministry of Health,Labour and Welfare. Furthermore, a return-to-work support
program has been introduced that connects industrial physicians,
nurses, and contracted psychiatrists working in coordination
with external Employee Assistance Program (EAP)*3 counselors
as a form of aid for leave takers. This program has been greatly
expanded by bolstering counseling systems and introducing
training for managers on how to approach individuals taking leave
for a mental disorder. As a result, we are now able to maintainrates of more than 80% for employees returning to work after
receiving leave for a mental disorder for the first time.
Furthermore, we implemented a stress check system in the firstyear after such systems became mandatory. In fiscal 2023, 94.0%
of employees underwent stress checks.
Major Initiatives• Stress check system• Training for managers, supervisors, and new recruits frominternal industrial physicians and counselors• Return-to-work support program that connects occupational
health and safety staff, supervisors, managers, and humanresources personnel• Mental health counseling desk staffed by psychiatrists andclinical psychologists from outside medical institutions• Counseling desk provided by outside institutions through anexternal EAP*3 An external EAP is an employee support program that utilizes external
specialists to provide counseling to employees and their families formental health issues, help employees return to the workplace after
taking leave for mental disorders, and offer training to supervisors topromote healthy workplace environments within their divisions.

Yamaha Sustainability Report 2023

Rate of Employees Returning to Work after Receiving Leave fora Mental Disorder for the First Time (Yamaha Corporation)

Ratio of Smokers among All Employees (Yamaha Corporation)* As of March 31 each year

Measures for Helping Employees Stop Smoking
Yamaha Corporation views encouraging employees to stopsmoking as a top priority for protecting the health of employees.
Since 1998, we have continued to help employees quit smoking
through advice offered during health checkups as well as
individualized support for employees desiring such aid. Moreover,smoking is completely prohibited on the premises of all domestic
Group companies. As a result of these long-term initiatives, thepercentage of smokers among all employees declined from 36.2%
in 1998 to 9.98% in fiscal 2023, falling below 10% for the first time.

By prohibiting smoking on the premises of all domestic Group
companies and providing advice for quitting smoking andindividualized care when desired, the Yamaha Group is seeking tofurther lower the ratio of smokers and thereby help accomplish
Goal 3 of the United Nations Sustainable Development Goals(SDGs): "Ensure healthy lives and promote well-being for all at all
ages."
Data on the ratio of smokers, which includes Group companies, isshown on the ESG Data page.

The Yamaha Group’s smoke-free slogan

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Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

Measures for Preventing the Spread of Infectious
DiseasesPreventing the spread of infectious diseases that can have asignificant social and economic impact, such as HIV and AIDS,
tuberculosis, and malaria, is a global issue. Recognizing theimportance of this issue, Yamaha Group production sites inSoutheast Asia are practicing effective hygiene management inworkplaces, cafeterias, and break spaces; regularly sterilizing
company premises; and cleaning waterways while also
taking environment-related steps to prevent the emergenceof mosquitoes and other disease-carrying pests. In addition,
notification of the infectious disease risks of the relevant areas
is provided to employees going on overseas business trips aswell as to employees stationed overseas and their families, andimmunizations for hepatitis A, hepatitis B, tetanus, rabies, andmeasles, and other prevention measures are recommended before
departure from Japan.
In fiscal 2023, the Yamaha Group continued to promoteteleworking and basic precautions for preventing the spreadof COVID-19 in response to the ongoing global pandemic. We
also provided COVID-19 vaccinations to approximately 2,000
employees who elected to receive their third vaccination at theirworkplace in April 2022. Elsewhere, we worked together with thegovernment of Indonesia to provide vaccinations for roughly 5,000
individuals including employees as well as for members of theirfamilies and subcontractors (factory workers, janitors, cafeteria
workers, drivers, etc.) at Group business sites.
Risk Management >of employees undergoing regular health checkups.
We are implementing support and other frameworks to ensurethat employees stationed abroad are able to undergo checkups
in an efficient manner should they choose to when returning toJapan on a temporary basis.
Regular sterilization of outsidematerial storage dock

Cleaning of waterways oncompany premises

Health Support for Employees Stationed Abroad
In fiscal 2023, some employees stationed abroad were once again
forced to endure restrictions on their activities as a result of the
COVID-19 pandemic. Staff who were unable to return to Japan
were provided access to online consultations with health staff
to help alleviate the physical and mental burden placed on themby the prolonged restrictions. The scope of employees to whichthese consultations are provided has been expanded to include
those stationed in the Middle East and Oceania.

Measures for Ensuring the Safety of Employees
Stationed/Traveling Overseas
The Yamaha Group believes that the safety of employees isparamount and is taking various steps to safeguard employees
stationed or traveling overseas from the perspectives of accident
and incident prevention and emergency response.

Online consultation with a Yamaha Corporation industrial physician
by an employee stationed abroad (Yamaha Music Australia Pty. Ltd.)

Comprehensive Health Management Support for
Employees Stationed Abroad
In response to the COVID-19 pandemic, we began to expand therange of opportunities provided for information sharing between
personnel department members, local managers, and healthcare
staff, and steps have been taken to strengthen systems forproviding comprehensive health management support throughincreased understanding of situations at overseas sites and rates

Yamaha Sustainability Report 2023

Online meetings between
overseas managers anddomestic healthcare staff

Information concerning dangers in each country and region isgathered from sources such as Japan’s Ministry of Foreign Affairs,
private security companies, employees stationed at overseas
Group companies, and those who have returned from abroad. This
information is then analyzed and distributed internally in the form of
reminders and business trip regulations. Safety-related education is
also provided to employees before being dispatched overseas, while
their families also receive separate education programs.
Furthermore, for those taking overseas business trips for the first time,
an orientation is held that covers safety education, including basic
knowledge and measures for handling emergencies while abroad.

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Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

Fiscal 2023 Training Activities
Content

Training prior
to assignment
overseas

Overseasbusiness trip
orientation

TargetNumberNumberofofsessions participants

Yamaha Group
employees

1642

Employees’ families

523

Employees such as thosegoing on an overseas
7business trip for the first
time

93

has been a priority for the Group; and prohibiting smoking on thepremises of all domestic Group companies in April 2022.
*4 A joint program by the Ministry of Economy, Trade and Industry and
the Tokyo Stock Exchange launched in 2015 and designed to recognize
companies that focus on and strategically carry out efforts with regard
to their employees’ health from a management perspective*5 An approach toward strategically carrying out efforts with regard to
employee health from a management perspective*6 A joint program by the Ministry of Economy, Trade and Industry andNippon Kenko Kaigi launched in 2017 to recognize companies exhibiting
excellence in practicing health and productivity management; the top
500 companies in the large enterprise category are certified as White
500 enterprises

External Recognition
Inclusion in 2023 Health & Productivity Stock
Selection and Certification as White 500 Enterprisein 2023 Certified Health & Productivity Management
Organizations Recognition Program
In 2023, Yamaha Corporation was included, for the second
consecutive year, in the Health & Productivity Stock Selection.*4
This program is designed to recognize companies among thoselisted on the Tokyo Stock Exchange that exhibit excellence inpracticing health and productivity management.*5 In addition,
Yamaha Corporation and its subsidiary Yamaha Corporate
Services Corporation were certified as White 500*6 enterprisesin the 2023 Certified Health & Productivity Management
Organizations Recognition Program organized by the Ministry of
Economy, Trade and Industry and Nippon Kenko Kaigi. This honor
is thought to be a reflection of the high evaluation of the Group’s
long history of employee health management initiatives, such asproviding regular health checkups (in the month of employees’birthdays) at in-house health clinics; greatly reducing the rate of
employees smoking through support for quitting smoking, which

Yamaha Sustainability Report 2023

chain sustainability issues including the establishment of internalframeworks, measures, targets, and actions plans; the promotion of
initiatives through coordination with the relevant divisions; and themonitoring of these initiatives.
Sustainability Management >Promotion of Sustainability in the Supply Chain
Yamaha’s Supply Chain
Yamaha produces and sells musical instruments, audio
equipment, and a wide variety of other products. These products
are primarily manufactured and assembled by Yamaha Group
companies with bases in Japan, China, Indonesia, Malaysia, andIndia, although we also employ the services of manufacturingcontractors. The raw materials, components, and other items
required to manufacture these products are procured fromsuppliers around the world.

External Recognition >Promotion of Social Responsibility in the
Value Chain
Initiative and Promotion Frameworks
The Yamaha Group promotes sustainability throughout the entire
value chain in areas such as product and service development, rawmaterial procurement, manufacturing, selling, and recycling. The
Group established the Sustainability Committee, which is chairedby the president, and working groups pertaining to procurement
and human rights, which are chaired by operating officers, havebeen formed under this committee. These bodies are responsible formatters related to environmental, human rights, and other supply

Yamaha’s Supply Chain

58

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

Location of Yamaha Production Bases and Major Products Manufactured

Yamaha Policies Related to Procurement
Yamaha Group Purchasing Philosophy >Yamaha Supplier CSR Code of Conduct >Yamaha Group Timber Procurement Policy >Yamaha Group Green Procurement Policy >Efforts to Combat Conflict Mineral Issues >Specific Sustainability-Related Requests to Suppliers*1

Operating Bases and Group Companies >Initiatives at Group Manufacturing Bases
The status of labor conditions, occupational health and safety,
and environmental management at Yamaha Group companies
that function as production sites is monitored by dedicated staff
members from corporate divisions based on Group regulations
and standards. Details on these initiatives can be found below.
Respect for Employees’ Human Rights >Employee Health and Safety >Prevention of Pollution and Chemical Substance Management >Initiatives Targeting Suppliers
The Yamaha Group has defined policies concerning the
procurement of raw materials and components. Suppliers are

Yamaha Sustainability Report 2023

selected according to the standards set in the Yamaha Group
Purchasing Philosophy and are asked to adhere to the Yamaha
Supplier CSR Code of Conduct, which contains items pertaining
to labor, human rights, the environment, and other sustainability
considerations. Adherence to the code may be stipulated in basic
transaction contracts. If not, documents confirming the consent of
suppliers to adhere to the code will be collected. Inspections basedon the code are conducted when transactions are commenced withnew suppliers and on a regular basis thereafter. Corrective measures
are implemented and transactions are reconsidered as necessary.
Moreover, Yamaha Corporation is a member of the Japan
Electronics and Information Technology Industries Associationand participates in the association’s CSR committee as part ofits efforts to promote sustainability in the supply chain throughindustry coordination.

Category

Requests

Labor andhumanrights

No forced labor
No child labor
Appropriate working hours
Fair wages and benefits
No inhumane treatment
Non-discrimination
Guarantee of workers’ rights (freedom of
association, right to collective bargaining, etc.)
Handling of conflict minerals (responsible sourcing of minerals)

Safety in the course of duties
Accident prevention and emergency preparedness
Occupational Prevention of occupational injuries and illnesses
Management of physically demanding worksafetyMachine and equipment safety measures
Healthy and safe facilities
Compliance with environmental regulations
Resource and energy saving
Wastewater management
Environmental Air emission management
preservation Proper disposal of solid waste
Management of chemical substances
Management of hazardous substances
Conservation of biodiversity

EthicsProhibition of all forms of corruption and bribery
Prohibition of anti-competitive behavior
Information disclosure
Provision of appropriate product information
Early detection and prevention of fraud
Protection of intellectual property
Protection of personal information

59

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development*1 In addition to the above, suppliers of lumber are requested to procuresustainable timber resources.

Yamaha Supplier CSR Code of Conduct

Supplier Self-Assessments
In fiscal 2023, self-assessments were administered to 60 supplierswith which transactions were commenced. In March 2023, asimultaneous supplier self-assessment was administered via
questionnaires submitted to 2,312 existing suppliers (when the supplier
was a trading company, the relevant manufacturer was subject tothe assessment), and responses were received from 2,179 suppliers.
Roughly 40% of the surveyed suppliers were located in Japan while
30% were in China and 15% were in Indonesia. The remaining suppliers
were positioned in countries such as Malaysia, India, Germany, and theUnited States. Requests for corrective actions were submitted to 418
companies that had low scores for any of the 19 items deemed to be ofhigh materiality among the approximately 40 total items. The progressof corrective actions had been confirmed via paper assessment at 304
companies as of March 31, 2023. We will continue to submit requests
for corrective action and confirmation to the companies from whichsuch confirmation has yet to be received. Furthermore, we will keep
submitting requests for assessment results to companies that have yet
to report their results while determining whether or not transactions
should be continued out of consideration for our responsibility as apurchaser. Looking ahead, the Yamaha Group intends to improve theeffectiveness of its inspections by complementing questionnaires withon-site audits by third-party institutions.
Items Associated with a Large Number of Requests for
Corrective Action

Yamaha Supplier CSR Self-Assessment Questionnaire

Yamaha Sustainability Report 2023

• Evaluation training (based on "2. Accident Prevention andEmergency Preparedness" under "B. Occupational Safety" in
the Yamaha Supplier CSR Code of Conduct); corrective action
requests submitted to approx. 5% of respondents• Tracking, management, and treatment of hazardous substancesin wastewater (based on "3. Wastewater Management" under "C.
Environmental Conservation" in the Yamaha Supplier CSR Codeof Conduct); corrective action requests submitted to approx. 4%of respondents

Consultation Venues (Grievance Mechanisms)
To provide a venue for consultation and reporting regarding
human rights violations across the supply chain, Yamaha joined
the Japan Center for Engagement and Remedy on Business andHuman Rights (JaCER) in October 2022 and has begun accepting
claims filed through its Engagement and Remedy Platform.
Japan Center for Engagement and Remedy on Business andHuman Rights (JaCER) >JaCER grievance submission form >Education for Employees Responsible for Procurement
The Yamaha Group promotes internal training for its employees
responsible for procurement to ensure fair trade. Topics of thistraining include the Act against Delay in Payment of Subcontract
Proceeds, Etc. to Subcontractors (the "Subcontractors Act"), laws
related to contracts, and various regulations related to trade andprocured goods. In addition, responsible procurement training
is provided to employees charged with assessing the status ofcompliance with the Yamaha Supplier CSR Code of Conduct at
suppliers. Briefings related to sustainable timber procurement,
which include confirmations of timber legality, are held each year.
In fiscal 2023, such briefings were conducted in Japan, China, andIndonesia.

Responsible Raw Material Procurement
In the procurement of natural resources and other raw materials,
it is important to practice responsible procurement out ofconsideration of the potential impacts on the environment andsociety. The Yamaha Group is focused on themes that include
green procurement and the sustainable procurement of timber, an
important material for instruments and other products.
Protection of Biodiversity >Environmentally Friendly Design and Green Procurement >60

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

Responsible Mineral Procurement
The Yamaha Group works to procure minerals that play no partin the violation of human rights or environmental destruction. We
respond to customer requests to conduct due diligence activities,
and also ask suppliers to take similar steps based on the Yamaha
Supplier CSR Code of Conduct.

and other measures. We have also joined the Shizuoka Industrial Waste
Association of Shizuoka Prefecture, where we have production sites,
as a waste producer. As a member of this organization, we engage incommunication through exchanges of waste treatment information andsupport for facility tours and other events.

In fiscal 2023, a simultaneous assessment of suppliers was used
to assess conditions regarding the procurement of tin, tantalum,
tungsten, and gold. Based on the assessment results, 481 companies
deemed as having the potential to be dealing with conflict minerals
were asked to investigate their smelters and the countries of
production using the Conflict Minerals Reporting Template of the
Responsible Minerals Initiative. Responses were received from 333 ofthese companies, and we continue to request responses from thosecompanies that have yet to submit them. The future steps to betaken will be determined based on aggregation and analyses of theresults of the Conflict Minerals Reporting Template investigations.

Since fiscal 2021, various communication activities have either beencanceled or carried out through alternative means, such as mail-in voting,due to the COVID-19 pandemic. Examples of the communication activities
that would take place under normal circumstances include the following.

Communication with Business Partners
The Yamaha Group promotes communication with business partners
and subcontractors. In Japan, we share information about management,
production, and sales trends to suppliers that provide us with raw
materials, parts, and equipment and to subcontractors that supply
distribution, construction, and other services. We also work together
with these partners to contribute to worker safety and environmental
preservation while striving to foster an atmosphere in which it is easy
to share thoughts through relationship-building activities. In addition,
we hold lectures on the United Nations Sustainable Development
Goals (SDGs) at gatherings of suppliers in Japan in an effort topromote sustainability together with suppliers. During these lectures,
we provide overviews of the SDGs and introduce Group initiatives
related to human rights and other matters. Furthermore, we confirm
the status of compliance and CSR measures at the waste treatment
subcontractors used by domestic production sites through site visits

Yamaha Sustainability Report 2023

Communication Activities

Annual general meeting: Three times a year (collaborative meetings
once each with procurement, distribution, and equipment divisions)
Briefing session on trends in production and sales: Once a year
(collaborative meeting with procurement divisions, not held in fiscal
2023 due to the pandemic)
Safety and health inspection patrols: Confirmation of construction
work at two business sites in fiscal 2023
Confirmation of compliance status at waste treatment
subcontractors: On-site confirmation at 28 companies in fiscal 2023

future-shaping partnerships. This committee’s membership includes
the chairman of KEIDANREN (Japan Business Federation), thechairman of the Japan Chamber of Commerce and Industry, and theheads of the Cabinet Office; the Ministry of Economy, Trade andIndustry; the Ministry of Health, Labour and Welfare; the Ministryof Agriculture, Forestry and Fisheries; and the Ministry of Land,
Infrastructure, Transport and Tourism.
Partnership Declaration (registered on January 1, 2021) >Socially Responsible Logistics
Endorsing the ideals of socially responsible logistics advocatedby the Ministry of Land, Infrastructure, Transport and Tourism;
the Ministry of Economy, Trade and Industry; and the Ministry ofAgriculture, Forestry and Fisheries, Yamaha Corporation submitted
its Declaration of Voluntary Action for Realizing Sustainable
Logistics. This declaration puts forth our policies for working with
suppliers and logistics business operators to improve logistics
activities in pursuit of higher productivity and reformed workstyles.
Declaration of Voluntary Action for Realizing Sustainable Logistics(last updated on September 20, 2019) >Safety and Quality of Products and Services
Product and Service Safety and Quality Initiative
On-site confirmation at a waste
treatment subcontractor

Partnership Declaration
In January 2021, Yamaha Corporation announced its Partnership
Declaration, which details our commitment to building harmonious
partnerships with suppliers to heighten value across the supply
chain. This declaration reflects our endorsement of the aims of
the Cabinet Office’s committee for promoting the establishment of

The Yamaha Group manages the quality and safety of its products
and services and conducts appropriate disclosure of information
with this regard to ensure its products and services can continue
to satisfy customers.

Quality Assurance
Quality Management System
The Yamaha Group has formulated the Group Quality

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Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

Management Policies & Rules to guide quality management
oriented toward the ongoing provision of satisfying customer
experiences through products and services, and a quality
management system has been implemented based on thesepolicies and rules to drive improvements in quality.
Groupwide quality policies and objectives as well as importantquality-related measures are deliberated on by the Quality
Strategy Committee, which is chaired by an operating officer.
Based on these deliberations, the president will issue instructions
that will be relayed to business divisions and Group companies
via the head of the Yamaha Corporation Quality Assurance
Division. Business divisions and Group companies set their own
targets based on Groupwide quality policies and objectives. The
Quality Assurance Division of Yamaha Corporation conducts
monitoring to confirm the degree to which these targets are met
and to perform quality audits, and reports on these matters areissued to the Quality Strategy Committee.
In addition, we have established regulations stating that serious
quality issues and their responses are to be managed in aconcentrated manner by the head of the Quality Assurance
Division of Yamaha Corporation in order to strengthen Groupwide
quality assurance governance.

Quality Management System Certification
The status of quality management system certification at YamahaGroup sites on March 31, 2023, was as follows. As of this date,certification had been acquired for 77.4% of the Group’s global
operations (on an employee number basis).
ISO 9001: Acquired in seven business domains*
IATF 16949: Acquired in one business domain* Certification has been acquired in relation to the three core musicalinstruments businesses, audio equipment business, industrial machineryand components business, and golf business.

Quality Audits
Auditors of the Yamaha Corporation Quality Assurance Division
conduct quality audits of business divisions and Group companies
to check whether or not their quality management systems andthe resulting product and service quality are of a level that is
sufficient to ensure customer satisfaction. Quality audits gobeyond confirming the levels of compliance and effectiveness ofquality management systems to inspect the safety, effectiveness,and labeling appropriateness of principal products sold by the
Yamaha Group (approximately 20 products a year). The issues
and best practices identified through quality audits are sharedwith business divisions and Group companies to refine andimprove the effectiveness of quality management systems andultimately to heighten customer satisfaction. Quality audits are
not only instituted in product businesses, as we also conduct
quality audits targeting resort and other service businesses fromthe perspective of customer safety. Based on the results of theseaudits, improvements are implemented to Companywide quality
management systems as deemed necessary.
At the same time, business product business divisions issue
instructions to and perform audits of the factories they oversee,
both inside and outside Japan, in pursuit of higher product quality.

Yamaha Sustainability Report 2023

Quality audits

Product and Service Safety
The Yamaha Group endeavors to ensure and improve productsafety through safety-conscious product design, safety
inspections, and appropriate compliance with relevant laws andregulations.

Safety-Conscious Product Design
The Yamaha Group practices safety-conscious product design,
and its efforts include incorporating a risk assessment process
into design reviews at the development phase. Through therisk assessment process, we identify and project potential risks
related to products and their use. We are thereby able to examine
methods for the minimization or removal of these risks during the
product design process.
To facilitate these efforts, we are entrenching the R-Map risk
assessment method* as we move ahead with activities to further
enhance the effectiveness of our risk assessments.
* The R-Map risk assessment method proposed by the Union of Japanese
Scientists and Engineers entails mapping risks on a 6 x 5 matrix. Thismethod is utilized for reducing risks during design processes and forevaluating product risks. The Ministry of Economy, Trade and Industry and
the National Institute of Technology and Evaluation also evaluate risks
using the R-Map method.

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Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

Product Safety Testing Facilities
The Yamaha Group has constructed a testing building equippedwith safeguards against fires and explosions for the purpose of
testing the safety of lithium-ion batteries and other components
and products. This full range of in-house safety testing facilities
has been installed in this building. In addition, the building is also
used to advance development of safety verification methods andresearch projects for predicting deterioration patterns.

Testing building

Researcher at work

Response to Product Regulations and Standards ofDifferent Countries
The Yamaha Group monitors trends regarding regulations,formulates internal policies, and implements systems to guarantee
full compliance with the regulations and standards of relevant
countries pertaining to product quality and safety as well as
environmental protection.
Internal standards are established and revised in reflection ofregulatory expansions and revisions and the introduction of newvoluntary standards. In addition, information is shared among
overseas subsidiaries to facilitate swift and accurate response tochanges in the regulatory environments of countries of operation
while frameworks for managing regulatory information are
reinforced.
In response to the recent international tightening of regulations
applying to electromagnetic waves and energy conservation,

Yamaha Sustainability Report 2023

Yamaha Corporation has installed electromagnetic wave
measurement equipment and various other kinds of measurement,
analysis, and evaluation equipment at its facilities. This equipment
is used to evaluate product and component prototypes forcompliance with the regulations of relevant countries. Regulations
for chemical substances have also become more stringent
around the world, and in response to this trend the Company has
implemented a management system for chemical substances
contained in products andestablished its own Standards
for Chemical Content in
Products. These standards havebeen used to manage chemical
substances across the supply
chain during the product designand development phases andhave helped facilitate legal
Anechoic chamber usedcompliance while reducing
for electromagnetic wave
measurement
environmental impacts.

Immediate Action in the Event of Product Safety Issues
The Yamaha Group has put in place a system to ensure that it
places top priority on the safety of customers. In the event of asafety issue involving a commercially sold product, the employee
who learned of the incident shall immediately report it to the
responsible department and to the Quality Assurance Department.
The department that receives the report immediately notifies thequality assurance division for the respective business of the issue,
and steps are taken to respond to the affected customers, notify
the appropriate government authorities, and initiate measures
aimed at preventing recurrence. Should the relevant quality
assurance division determine that the issue is particularly serious,
a report will be submitted to senior management and the head of
the Quality Assurance Department shall assemble representatives
from the relevant departments from across the Company.

Product and Service Information Disclosure
The Yamaha Group conducts advertising and promotions
that accurately convey the details of products and services
to customers. At the same time, we strive to provide accurate
information related to our products and services in accordancewith laws and regulations. We have stated these principles in ourCompliance Code of Conduct.
Furthermore, the Group provides and discloses safety information
in a timely and appropriate manner to ensure that the products,
services, and facilities it offers do not have an adverse impact on
the lives, health, or assets of people.
1-3 Proper Advertisement and Publicity and Accurate Presentationof Information >Appropriate Product/Service Information Disclosure
To ensure appropriate disclosure of information on its products andservices, labeling confirmation processes have been incorporated
into quality management systems.
Instruction manuals, catalogs, websites, and other accessible
mediums provide basic information on products and services, suchas specifications, as well as information on the safe use of theseofferings in order to educate customers on safe usage methods
and prevent accidents. In addition, we provide safety awarenessinformation about school instruments and equipment on our
corporate website and in catalogs.
Precautions Pertaining to Safe and Proper Product Usage >Safety Awareness Information about School Instruments andEquipment >Safe Music Instrument Usage (School Instruments and Equipment
Catalog) >63

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Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

The Company has defined procedures and workflows for use in theevent that a product defect or product- or service-related accident
occur, which include notifying the relevant authorities as legallyrequired and promptly providing recall and other informationnecessary for ensuring customer safety in the appropriate manner.
When such issues are deemed particularly serious or urgent, theCompany will take the necessary steps to inform customers via
the channels viewed as appropriate based on sales and usage
trends. Such channels may include announcements via websites,
press conferences, newspapers, specialized magazines, social
media, direct mailings, and telephone calls.
There were no new recall announcements in fiscal 2023.

Training Related to Product and Service Quality
and Safety Management
The Yamaha Group provides training and education in relation to
relevant regulations and social expectations as it takes steps toimprove the quality and safety of its products and services.

Quality Management and Quality Awareness Training
The Yamaha Group’s human resource training programs include
specialized quality technique training as well as rank-based
training with the goal of improving quality awareness andquality management skills. In fiscal 2023, the Group held quality
engineering courses, product safety risk assessment courses(R-Map), and other courses. Going forward, the Group will
restructure its quality assurance training programs to facilitate
the acquisition of quality-related skills by mid-level employees inthe engineering field while revising quality management training
to raise quality awareness among management.
In addition, a yearlong training program was implemented targeting
all domestic employees in fiscal 2023 as part of our efforts toimprove awareness regarding actions that can prevent quality issues.

Yamaha Sustainability Report 2023

This program included learning based on examples of quality issues
and activities aimed at enhancing prevention-oriented mindsets.
We have also begun implementing initiatives for improving employee
quality awareness through increased receptiveness by sharing
information on customer input and quality improvement measures
via an internal website detailing lessons that can be learned from
customer experiences and physical displays on development floors.

Product Safety Training
The Yamaha Group includes product safety risk assessment
courses in its human resource training programs. These courses
cover a variety of safety-related topics, ranging from examinationsof safety issue case studies and risk management practices for all
areas of operations spanning from the product development stage
to post-development. When including the product safety courses
discontinued after fiscal 2019, an aggregate total of 377 employees,
primarily from the engineering and development divisions,completed these courses over the 13-year period from fiscal 2011 to
fiscal 2023, making for a total of 1,940 hours of training.

Legal Compliance Training
Human resource development programs are implemented to foster
compliance understanding among relevant personnel and ensure
good legal compliance. As one facet of these efforts, e-learning
programs on regulations pertaining to products and Yamaha’s
response frameworks were launched in fiscal 2022.

Product- and Service-Related Legal Violations, etc.
Legal Violations and Defects Involving the Safety of
Products and Services
In fiscal 2023, there were no market response incidents involving
product safety defects and no legal violations resulting in punishment.
Important Information on the Use of Yamaha Products >Legal Violation Regarding Labeling and Advertising
In fiscal 2023, there were two incidents of legal violations
regarding product labeling overseas. These cases involved
failures to list an in-border address on products or packaging andfailures to label products in accordance with local requirements.
The necessary measures were taken to address these issues.

Improvement of Customer Satisfaction
Customer Experience Initiatives
The Yamaha Group has put forth its corporate philosophy
structure, the Yamaha Philosophy, to try to think from thecustomer’s viewpoint, to consistently provide high-quality
products and services that exceed the expectations of its
customers, and to create excitement and cultural inspiration
together with people around the world. Our commitment tocustomers is defined in the element of "Customer Experience."
In their business activities, all Yamaha Group employees remain
constantly aware of the fact that their daily work is connected tothe principles expressed in "Customer Experience." In our quest
to accommodate the diverse needs of customers, we are adopting
universal design principles, proposing products and services that
contribute to the resolution of social issues, and helping achievesustainability through these efforts.
1-1 Realization of Customer Satisfaction >Yamaha Philosophy >Customer Satisfaction Initiatives
Collection and Utilization of Customer Input to
Improve Customer Satisfaction (VOC Methodology)
The Yamaha Group adopts a voice of the customer (VOC) methodology
in which customer input is gathered through questionnaires pertaining

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Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

to musical instruments and audio products and is shared via internal
websites. In addition, information on inquiries received from customers
around the world via telephone or email at domestic and overseas
sales companies is collected and regularly communicated to divisions
involved in product planning and development.
We also use various customer contact points to administer customer
satisfaction surveys to individuals centered on users of Yamaha
products and services, and the results of these surveys are utilized topursue improvements. In fiscal 2023, a global customer satisfaction
survey was administered to all customers registered for the member
services of domestic and overseas Group companies.
Input from customers is an invaluable asset that is utilized even after
the supply of products and services to determine whether we are
effectively delivering the desired value and satisfying customers andto improve customer experiences together with customers.

fostering interest and sensitivity toward customer experiences.
Through these programs, we train more than 3,000 employees
a year. These programs see groups of employees thinking about
how customers experience Yamaha Group products and services
based on voice recordings of actual inquiries while interactingwith the articles in question in order to gain an understanding ofexactly how customers feel when using our products. Throughthe free exchange of opinions, participants become aware ofcustomer sentiments that they could not have imagined on
their own and think about what Yamaha Group employees canaccomplish if they unite in their quest to serve customers. In thismanner, these training programs help foster a corporate culture ofvaluing customer experiences.
In addition, monthly posters are displayed at domestic production
bases providing feedback from customers around the world
with regard to the products manufactured in Japan. Meanwhile,internal websites offer examples of improvements made to
products and input from customers with regard to those products.
This information helps improve employees’ sensitivity toward
quality by making them aware of the discoveries their colleagues
have made based on customer input and how they responded tothis input.
Through these efforts, our aim is to foster a corporate culture thatutilizes a customer-oriented approach and that is committed toearnest engagement with every customer.

Internal website compiling customer input received
through questionnaires

Mindset Building for Improving Customer Awareness
The Yamaha Group conducts unique training programs aimed at

Yamaha Sustainability Report 2023

Online iteration of the YamahaGroup’s unique training programs

Intranet site offering examples of customer input being used to
improve products (left)
Poster in a Japanese factory (right)

Customer Response and Support Improvement
Customer Response and Support Improvement
The Yamaha Group has established an after-sales service
structure for customers through which it is working to respond to
customer inquiries and requests with integrity.
Yamaha Corporation has established the After-Sales Service
Management Section, which has formulated after-sales service
policies regarding the Yamaha Group and that facilitates themonitoring of quality in customer responses and support.
Manufacturing companies have established sections for storingand supplying service parts. Sales companies have developed
systems, including customer support divisions, through which
they offer after-sales services. In the musical instruments andaudio products business, Japanese sales company YamahaMusic Japan Co., Ltd., has established the Customer Support
Division along with product-specific customer service venues.
Overseas, we have created a region-specific after-sales service
network. This network includes Yamaha Group service centers,
Yamaha-authorized service centers, distributors, and contracted
engineers.

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Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

These customer support sections develop customer support
systems that make use of telephones, websites, and social
media in order to facilitate smooth responses to inquiries. Someof these departments have introduced customer management
systems using cloud computing.
1-6 Offer of After-Sales Services and Response to Customer
Inquiries >Customer Support System (After-Sales Services)

Yamaha Music Japan Co., Ltd.

Yamaha Sustainability Report 2023

Yamaha Music Europe GmbH

After-Sales Service Management System
The Yamaha Group has created an after-sales service
management system for its musical instruments and audio
equipment businesses and is working to continually improve
the quality of its customer responses and support based on theslogan "ONE YAMAHA."The Group policy is shared at the annual Service Management
Meeting, and Japanese and overseas sales companies andmanufacturing companies with service parts centers formulate
targets and plans related to after-sales services. Group companies
conduct activities according to their plans, and the quality
assurance division of each business monitors their progress.
In this way, the entire Group works to make improvements tocontinuously enhance responses to customers and customer
support.
In fiscal 2023, the Service Management Meeting was held online
using Microsoft Teams in light of the COVID-19 pandemic. At
this meeting, customer service representatives from 26 Japaneseand overseas companies discussed common issues needing tobe addressed by customer service divisions across the Group.
Such issued included the need to share information on customer
service and support initiatives based on the changing social
climate, to contribute to a recycling-oriented society, and toprovide information on after-sales service techniques online.
Furthermore, in order to provide standardized high-quality aftersales services to customers all over the world, the Yamaha Groupestablished the Group After-Sales Service Policies & Rules, which
outline the basic policies to be shared throughout the Group.
The Group is also monitoring the implementation status of thesepolicies via check sheets.

After-Sales Service Management System

Service Management Meeting discussions

Product and Service Enhancement
Music Education Business
The Yamaha Group desires to contribute to the realization of anenriched society in which people around the world are able to enjoy
and share in the joy of music. This desire inspires us to develop
a music education business both inside and outside Japan. The
predecessor to this business was a music class that started in the
Ginza area of Tokyo in 1954. Since then, the Group has continued
providing music education to help enrich the growth of children
while establishing and developing the Yamaha Music Education
System, a unique education method. Based on its philosophy of "To

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Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

foster the musical sensitivity that everyone is born with, to develop
the ability to enjoy creating and playing the music of their own andultimately share the joy of music with anyone," the Yamaha Group
provides courses that meet the needs of all generations. These
include Yamaha Music Schools for children between age 1 andjunior high school and high school age and Yamaha Music Lessons
for Adults for both music enthusiasts and individuals interested inlearning to play a musical instrument as a hobby.

Furthermore, for more than five decades the Yamaha Group has
been holding Yamaha Junior Original Concert events that callupon children under 15 years of age studying at Yamaha Music
Schools to turn their feelings into music and perform their own
compositions. Activities pertaining to Yamaha Junior Original
Concert events are carried out in Japan and around the world.
Through the common language of music, Yamaha’s philosophy ofmusic education is spreading across the globe.

Yamaha Music Schools Available in More than 40 Countries
and Regions Worldwide
Yamaha Music Schools provide lessons that focus on fostering
creativity based on the three features of comprehensive musiceducation, timely education, and group lessons. Our aim is toempower children with the ability to express themselves freely
with music through our unique education methods, which include
elements such as listening, singing, playing, reading, and creating.

Yamaha Music School (Japan)

The first overseas Yamaha Music School opened its doors in Los
Angeles in 1964. After this, we
proceeded to expand our network
to locations throughout Asia,
Europe, North America, and Central
and South America. As a result,
we now provide opportunities tolearn the joy of music to morethan 140,000 students in over
40 countries and regions. Eachcourse offered at these schools
is developed with consideration
given to the culture and characterof the respective region while
being based on a philosophy andcurriculum for music education
developed in Japan.

Yamaha Sustainability Report 2023

Yamaha Music School (South Korea)

Yamaha Music Lessons for Adults Catering to Diverse Needs
Yamaha Music Lessons for Adults are provided for a wide range ofage groups in locations across Japan. With lessons for everyone
from beginners looking to have fun while learning how to play
an instrument to intermediate and advanced students dedicatedto improving their skills, these lessons allow anyone to enjoy
the process of learning and refining music techniques without
undue stress. These lessons are provided for learners of all ages
at roughly 1,200 site locations across Japan. We offer a varietyof courses to match various customer needs, ranging from bandcourses, vocal and choir courses, wind and string instruments
for those planning to play in groups, and keyboard courses for
those looking to play alone. As of June 2022, we had a total of 39
courses. Solo lessons are available as well as small group lessons
that allow students to improve their skills with an instrument
while enjoying music with their friends through a curriculum thathelps overcome any discrepancies in musical experience andoriginal educational materials.

Countries with Yamaha Music Schools (As of March 2023)
In addition, we offer "Music and Health" and "Sing for Health"wellness programs that capitalize on the health benefits of music.

Yamaha Music Lesson for
Adults"Music and Health" wellness
programCasual "Seishun Pops" Course for Singing Fun
The "Seishun Pops" course launched nationwide in 2017 isdesigned to allow even people with no musical background tohave fun singing. This course mainly focuses on popular Japanese
pop music or folk songs from the 1960s to 1980s that senior

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Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

citizens enjoyed in their
youth. Without using a score,
participants can enjoy songsby singing in harmony or stepto the music along with theirpeers while watching originallymade videos.

"Seishun Pops" course

Universal Design Initiatives
The Yamaha Group aims to create an environment in which
all people can enjoy the pleasures of music, and we promote
universal design to help realize a society that is both rich incommunication and that allows people of diverse backgrounds tolive comfortably and harmoniously. The Group is moving forwardwith initiatives that give employees such as product developers
and designers a better understanding and greater awarenessof universal design while also working to enhance employee
understanding and awareness. We are also installing universal
design principles into products in forms such as the voice readout
functionality introduced into digital musical instruments.
In fiscal 2017, we began participating in the "Company UD Visiting
Lectures" universal design program that is part of the efforts ofHamamatsu City, Shizuoka Prefecture, to promote community
development through universal design.
Support for Fostering Future Generations >SoundUD™ Sound Universal Design Support System
Yamaha Corporation is developing and advocating its SoundUDTM
collection of cloud technologies and platforms for supporting
universal design in sound.
In 2017, the Yamaha Group established the SoundUD™
Consortium, an organization in which Yamaha Corporation isacting as the secretariat, with the objective of helping create

Yamaha Sustainability Report 2023

a sustainable society in which there are no concerns about
language or hearing ability. Yamaha Corporation is promoting
the creation of innovation and new business models originatingfrom Japan while helping facilitate the popularization ofSoundUD™ technologies together with the more than 360
member companies and organizations (as of March 31, 2023).
Efforts by the consortium to date have included the deploymentof a multilanguage announcement system for use by seniorcitizens, people with disabilities who may have difficulty hearing
announcements, as well as non-Japanese individuals who may
not understand Japanese. This concept and the success of ouractivities have earned praise, resulting in the consortium being
presented with a number of honors.
Another service of this nature is the Remote Cheerer powered by
SoundUD™ remote cheering system developed by Yamaha. Thissystem involves an app that helps users to engage with sports in aninteractive manner, even when viewing from home or other remotelocations. This service has been used at more than 500 events,
including soccer, baseball, and basketball games, relaying over 100
million expressions of support from spectators. In 2022, this service
won an award for excellence in the fourth Nihon Service Award, aprogram organized by Japan Productivity Center and SPRING for the
purpose of recognizing innovative services. We have developed acommercial-use interphone service that can be used via smartphone.
Named Intercom via your Smartphone, this service employs universal
design principles, including the options for text communication
via keyboard input and multilanguage support using machinetranslation, to ensure that it can be used with ease by anyone. A
Gold Award was received for this service in the Interaction Design
category of IAUD International Design Awards 2022.
Furthermore, awards were received in the 2022 Good DesignAward program (organized by the Japan Institute of Design
Promotion) for Intercom via your Smartphone powered by
SoundUD™, an extension of the aforementioned interphoneservice, as well as for the Text and Sound Based Multilingual
Announcement System powered by SoundUD™ commercialuse public announcement system developed jointly with USENCORPORATION, which was also included in the GOOD DESIGNBEST 100 due to its particularly high evaluation.

Intercom via your Smartphone
powered by SoundUD™

Text and Sound BasedMultilingual Announcement
System powered by SoundUD™

Daredemo Piano (Auto-Accompanied Piano)
Developed jointly by Yamaha Corporation and the COI Site of Tokyo
University of the Arts, the Daredemo Piano (Auto-Accompanied
Piano) allows anyone to produce exquisite performances as they
can play a melody with just one finger while being supported byautomatic accompaniment and pedal movement.
Yamaha Corporation has been involved in the COI Site of Tokyo
University of the Arts, a facility that is part of the COI STREAM
innovation creation program of the Ministry of Education, Culture,
Sports, Science and Technology and the Japan Science andTechnology Agency, since October 2015. Our involvement has
included the provision of technical support to this organization.
The Daredemo Piano was born out of a project designed to fulfill
the dream of a high school student with a disability affecting
their hands and legs who sought to play Chopin’s Nocturnes. The
key to fulfilling this dream was found in Yamaha’s Disklavier™
player piano and in its automatic accompaniment technology.
Disklavier™ uses a system in which the notes played by one’s
right hand, generally used for the melody, are instantly translated
to MIDI data which is compared with the music database of our68Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

automatic playback system. This system then supplies the notesthat would normally be played with the left hand, while matching
the tempo of the performer. When combined with control over thepedal manipulation system installed in Disklavier™, this allows for
performers to play songs exactly as they envision.
Looking ahead, Yamaha plans to take part in research on the
Daredemo Piano in social welfare and medical fields with the goalof helping extend the amount of time in which people are able
to live healthily. For example, the Daredemo Piano is expected tocontribute to increased well-being for senior citizens and people
with disabilities through the provision of ongoing happiness andmeaningful activities. We also see applications for this innovation inteaching music to children and students and in providing educationon the United Nations Sustainable Development Goals (SDGs).
In 2021, the Daredemo Piano won the Minister of Education, Culture,
Sports, Science and Technology Award in the STI for SDGs program,which was established by the Japan Science and Technology Agency
with the goal of honoring superior initiatives for resolving social
issues through science, technology, and innovation (STI).
Shaping an Inclusive Future in Which Everyone Can Know the Joyof Playing the Piano—Daredemo Piano >Daredemo Piano Taira Tairadate© 2019Resolution of Social Issues with Sound Technologies
Music Education Solution Utilizing ICT—Smart Education System
Remote Classes Using Online Meeting System
School Music Education Support >Yamaha Sustainability Report 2023

Creation of New Workplaces and Proposal of Teleworking
Solutions
The COVID-19 pandemic is transforming the spaces in which we workand learn, giving rise to hybrid workstyles that merge office workand teleworking and HyFlex courses that combine face-to-face andonline classes. The needs regarding in-office meeting rooms are also
diversifying as companies seek to flexibly change layouts to maintainappropriate distance among participants, to more efficiently utilize
meeting rooms based on the number of participants and the purposeof the meetings, and to make the sound environments of meetingrooms, which have traditionally been unsuited to remote meetings
due to echoes, more ideal for such meetings.
Amid the resulting rise in remote meeting systems, the YamahaGroup has been turning its attention toward such office soundenvironment issues, leveraging its accumulated technical andproduct expertise to propose office sound environments that allow
for conversations and remote meetings to be carried out without fearof being overheard or concern for noise from the surrounding area.
One offering used for this purpose is the ADECIA remote meetingsound solution launched in 2021. This audio system is a one-stop
solution providing microphones and speakers that are optimized
for the rooms in question, whether these rooms need to be used forremote meetings or classes. Our ADECIA system lineup includes
the ADECIA Ceiling Solution, which is comprised of ceiling arraymicrophones that allow for flexible adjustments to meeting roomlayouts and efficient meeting proceedings based on the numberof participants; the ADECIA Tabletop Solution, which uses wired
tabletop microphones to accommodate compact meetings withfew participants; and the ADECIA Wireless Solution, an addition
to our wireless microphone system lineup that supports optimal
remote meetings during and after the COVID-19 pandemic. We areconstantly expanding our lineup of ADECIA products to flexibly
accommodate various remote meeting environments as theseenvironments grow more diverse based on applications.

Remote Meeting Portal Site (inJapanese only) >ADECIA Remote MeetingSound Solution (in Japaneseonly) >ADECIA remote meeting soundsolution
Listening Care Earphones and Headphones and Hearing
Health Website
Ensuring that people around the world are able to continue toenjoy music throughout their life is an important social mission of
a company involved in sound and music. Accordingly, the YamahaGroup will continue to advance business and product development
activities aimed at creating new value at the intersection between
enjoying quality sound and protecting one’s hearing.
A 2019 report by the World Health Organization indicates thataround 1.1 billion people aged 12 to 35, or roughly half of thisdemographic, are at risk of hearing loss, and this number and theassociated risks are only expected to increase if steps are nottaken to curb this trend.
In order to help address this social issue, Yamaha provides its
TW-E and EP-E series of earphones and YH-L and YH-E series ofheadphones, which are equipped with its proprietary Listening
Care* technology for reducing the strain on listeners’ ears. We
have also constructed the Thinking about Hearing Health website(in Japanese only), which supplies information on how to enjoy
listening to music and other audio while caring for one’s hearing.
Through these efforts, we hope to help ensure that people areable to continue to enjoy sound and music for as long as possible.
* A proprietary Yamaha technology that allows for music to be enjoyed at lower
volumes without losing any of the details by adjusting output in line withvolume while maintaining the overall balance of low- and high-pitched sound69

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

increasingly more important, due in part to the push to achieve
the targets of the United Nations SDGs put forth for 2030.
DISCOVER TRUE SOUND (in Japanese only) >Thinking about Hearing Healthwebsite (in Japanese only)

TW-E5B truly wirelessBluetooth® earphones

Thinking about Hearing Health >Solutions Utilizing Sound and New Technologies
Since successfully manufacturing its first piano in 1900, theYamaha Group has been advancing its technologies to keep
up with the changing times while also continuing to develop
traditional acoustic musical instruments as well as musicalinstruments and technologies using the latest electronic
technologies. In addition, the Group continues to create better
listening environments through research and development
regarding sound fields and related control systems while pursuing
superior sounds through the manufacture of sound-generatingproducts. We have also been proposing solutions utilizing
technologies such as the sensor technologies cultivated throughproduct development and delivering the content that the YamahaGroup proposes under the current "new normal."
In 2021, the Advanced Art Design Laboratory was establishedjointly between the University of Tokyo’s Research Center for
Advanced Science and Technology, Yamaha Corporation, andeight other companies. This laboratory has assembled crossfield research groups consisting of staff from world-leading
companies, cutting-edge University of Tokyo researchers, andleading art design professionals. These groups are tasked withswiftly implementing ideas born out of their diverse perspectives
and fostering balanced human resources that can address themore complex social issues that will emerge in the future as thedevelopment of inclusive societies and social design become

Yamaha Sustainability Report 2023

SYNCROOM Online Remote Ensemble Performance Service
SYNCROOM is an online remote ensemble performance service
that allows users in up to five locations to connect via the internet
to enjoy remote ensembles.
Standard remote meeting and IP telephony systems are designed forconversations and meetings and thus entail a degree of audio latency
that is unacceptable for ensemble performances, which require a highdegree of synchronicity. SYNCROOM, meanwhile, uses a proprietary
technology to minimize the latency resulted from two-way transmissionof audio data via the internet to allow for satisfying ensemble
performances to be performed without any sense of irregularity despite
members being in remote locations. Moreover, this service can be used
free of charge simply by installing the SYNCROOM app and creating an
account. As of March 31, 2023, the number of account holders had risen
to 200,000, indicating how SYNCROOM is helping users across Japan
enjoy performances with colleagues separated by physical distance.
The SYNCROOM app was expanded in April 2022 with the additionof a new profile function that enables users to publicly display
information such as self-introductions, their favorite music genres,the instruments in which they are interested, and their social media
accounts. This profile function is combined with user search andfavorite registry functions that make it easy to find users withsimilar interests and thereby facilitate connections between users.
SYNCROOM received the 2020 Nikkei Business Daily Award forSuperiority in the Superior Products and Services category inJanuary 2021.
Official SYNCROOM website (in Japanese only) >Official SYNCROOM players website (in Japanese only) >SYNCROOMDistance Viewing Next-Generation Live Viewing Service
Distance Viewing is a next-generation live viewing service thatrecords the full impact of live performances by artists andfaithfully reproduces these performances in a virtual environment.
Capitalizing on Yamaha’s musical instrument, audio equipment,
and network insight and technologies, this service was developedwith the aim of providing a means of mobilizing concert halls,
which continue to face a challenging operating environment asa result of the prolongation of the COVID-19 pandemic. DistanceViewing can be used to reproduce performances in a virtualenvironment by combining faithful live performance audio withlife-sized visuals displayed on large screens and lighting effects
that mimic the actual performance.
Going forward, the Yamaha Group will continue to propose meansof enjoying music that are suited to the new normal emerging
amid the pandemic while delivering solutions that resolve social
issues related to sound and music.
Distance Viewing
received an award
in the 2021 Good
Design Award
program organizedby the Japan Instituteof Design Promotion.
Distance Viewing next-generation live
viewing service

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Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

Example Products

Sensor Technology Application Proposals

Products for Creating Better Sound Environments
Products

Sustainability features

VSP-2 Speech Privacy System™ (inJapanese only)

Camouflages conversation with an "information
masking sound" synthesized from human speech

Acoustic Conditioning Panel (inJapanese only)

Alters reverberations in rooms and provides clear andcomfortable acoustic environments

Related pictures

Products

Sustainability featuresThin-film
strainsensors

Monitors human motion
in real time by mounting
sensors on body supports
or training wear

Related pictures

Sensors in use

Conference room built using acoustic
conditioning panels
Avitecs™ soundproof room (inJapanese only)

Easily realizes a reverberant and soundproof space

Hydrogen Features high-speed
response and highleakdetector sensitivity over awide, dynamic range
and supports various
forms and leakage
volumeSound Technology Application Proposals
Products

YVC-200 unified communications
speakerphone (in Japanese only)

Allows for hassle-free remote communication
regardless of time or place

TW-E3B and TW-E5B truly wirelessBluetooth® earphones

Features proprietary Listening Care technology for
reducing burden placed on listeners’ ears by optimizing
sound balance based on volume

EP-E70A noise cancelling Bluetooth®
earphones

Features Listening Care, Advanced Active Noise
Cancelling for removing interference while faithfully
replaying music, and Listening Optimizer for
automatically optimizing playback in real time based onlisteners’ ear shape and usage conditions

Yamaha Sustainability Report 2023

Sustainability features

Related pictures

SilentBrass™ Makes practicing and(in Japanese performing possible
anywhere at any time
only)

TransAcoustic™ Enables volume
adjustments to be
piano (inJapanese only) made just like anelectric piano
In-vehiclecommunication
module for
automotive
emergencies

Enables automatic
notification during
emergencies andhands-free calling-

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Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

External Recognition
First Place in the Educational Service Industry in JCSI
Survey for Seventh Consecutive YearIn fiscal 2023, Yamaha (Yamaha Music School, English language
schools, etc.) won first place in the educational service industry
for the seventh consecutive year in the Japanese Customer
Satisfaction Index (JCSI) survey. The survey is one of Japan’slargest customer satisfaction surveys. In the second iteration ofthis survey, Yamaha received an exceptionally high evaluation,
ranking No. 1 in anticipation felt by consumers toward corporate
brand, overall evaluation of quality, and cost performance,
all factors that can influence satisfaction, and in customer
satisfaction and recommendations via word-of-mouth, which are
the result of satisfaction levels.

First Place in the Network Device Category of Nikkei
Computer Customer Satisfaction Survey for SeventhConsecutive Year
Yamaha Corporation won first place in the network device
category of the Nikkei Computer Customer Satisfaction Survey
2022-2023 of Nikkei Business Publications, Inc. This was theCompany’s seventh consecutive year of receiving this rank. Our
receipt of this honor was a result of the high evaluation of factors
such as the reliability and ease of use of our products.
To ensure that customers can continue to use our products withpeace of mind, we supply a wealth of technical information, longterm firmware support, and ongoing technical support. In addition,
initiatives are implemented to help customers improve their skills
in relation to our products. For example, we operate the Yamaha
Network Engineer Association, a social media service that allows
for exchanges of information between engineers. Another suchinitiative is the Yamaha Certified Network Engineer Program,which was launched in June 2021. We also provide information on

Yamaha Sustainability Report 2023

case studies of our products being adopted by various industries
on our network product website.
Yamaha Network Engineer Association >Yamaha Certified Network Engineer Program >Nikkei Computer Customer Satisfaction Survey 2022-2023 (inJapanese only) >No. 1 Domestic Share for Routers for Small and Home
Offices for 18 Consecutive Years
In the figures for shares of the domestic network equipment
market for 2021 announced by International Data Corporation
Japan in June 2022, Yamaha held the No. 1 share in routers
for small and home offices, which are also used for the small
satellite offices of companies of all sizes as well as in stores. We
have maintained the No. 1 share in this market segment for 18
consecutive years.
Since entering the network equipment market in 1995, Yamaha
has continued to expand its lineup of switches, wireless LAN
access points, and other products with a focus on corporate-use
routers. These efforts, coupled with our ongoing developmentof products that match customer needs and expectations, haveprompted customers ranging from individuals to companies to use
our products. In addition, we offer support through the proactive
provision of information via venues such as regular online Yamaha
network seminars held to explain product settings and usage
methods. Yamaha also makes efforts to improve customer skills
through the Yamaha Network Engineer Association, a social
media service that allows for exchanges of information between
engineers, and the Yamaha Certified Network Engineer Program.

Receipt of Award for Excellence in Fourth Nihon Service
Award by Remote Cheerer powered by SoundUD™
The Remote Cheerer powered by SoundUD™ remote cheeringsystem won an award for excellence in the fourth Nihon Service

Award, a program organized by Japan Productivity Center and
SPRING for the purpose of recognizing innovative services. The
Nihon Service Award is a program designed to recognize services
offered by Japanese companies that are based on completely
unprecedented new approaches or that provide astounding newvalue inspiring the evolution of other services or the developmentof industries.
Remote Cheerer powered by SoundUD™ is a service that allows
sports fans to transmit their expressions of support to speakers
at the site of sporting events via their smartphone, even while athome or some other remote location. This service has also been
expanded to allow users to hear the commentary from the sitethrough their smartphone. The receipt of this award is thought tobe a reflection of the new value created for various stakeholders
involved in sports.

Nihon Service Award >Remote Cheerer powered by SoundUD™ website >Intellectual Property
Intellectual Property
The Yamaha Group believes that proper protection and use of
intellectual property is essential for accelerating innovationand inspiring creativity and make social development fasterand healthier. Based on this belief, the Group has proceeded
to protect its business through the proactive acquisition and72

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

utilization of intellectual property rights. We have also been
fostering a culture of respecting the intellectual property rights
of others and developing an organization that is built on thisrespect. These efforts have been aimed at enacting our Corporate
Philosophy "Sharing Passion & Performance" and accomplishing
our management vision "Becoming an Indispensable, Brilliantly
Individual Company."Intellectual Property Protection Initiatives
The Yamaha Group is proactive in its efforts to acquire, protect,and utilize important intellectual property rights created during
the course of its business activities, such as those pertaining to
new technological concepts, designs, products, or service names.
At the same time, we view respect for the intellectual property
rights of others as a basic principle, and the Compliance Codeof Conduct contains stipulations pertaining to the protection ofsuch intellectual property rights, which are faithfully observed.
When conducting preliminary surveys in conjunction with theannouncement of new product development projects or theacquisition of intellectual property rights, the Group strives toavoid infringing on existing rights by improving the precision ofits surveys through the implementation of tools that utilize AI
technologies.
In addition, regulations and bonus systems are in place withregard to the rights (patents, designs, etc.) to new inventions
produced as part of work. The Yamaha Group also holds
educational sessions for employees to ensure they are able toappropriately use intellectual property held by the Group or otherparties. In addition to training upon hiring, Yamaha Corporationis enhancing its employee training programs through means suchas holding training sessions for employees upon joining or beingtransferred to development and marketing divisions, including
sessions related to the themes of patents, copyrights, and generalmanagement of intellectual property.

Yamaha Sustainability Report 2023

6-3 Respect for Intellectual Property Rights >Patents
The Yamaha Group has formulated a patent strategy to matchthe characteristics of its business projected over the medium tolong term based on analysis of patent data and other information,and is working to drive the creation of new value and build astrong patent portfolio to protect this value. With regard tospecific businesses, we are engaged in patent activities with themain aims of differentiation from other companies as well as themaintenance of a competitive edge, and are moving forward withlicensing to third parties as appropriate.
In addition, annual evaluations are conducted on the current
state of utilization and future possibilities of all patent rights
retained in Japan and overseas, and we rigorously categorize andmanage our portfolio of intellectual property with the potential tocontribute to the development of unique Yamaha products and to
the establishment of a competitive advantage. By optimizing ourintellectual property portfolio and numbers of held rights, we arepromoting the rational use of intellectual property.
The total number of patents and utility models for practical use
held by the Yamaha Group in Japan as of March 31, 2023, was2,183. The total number held overseas, principally in the UnitedStates, Europe, and China, was roughly 2,673 on March 31, 2023,
making a global total of approximately 4,856.

Designs
The Yamaha Group views designs as an important element of
product differentiation, and we are promoting the appropriate
protection and use of designs through design rights and otherintellectual property rights accordingly. As part of these efforts,
the Group has been ramping up the acquisition and exercise
of design rights in countries and regions where there are many
victims of counterfeiting. Designs have become an increasingly

important element of branding in recent years, and strategies foracquiring design rights are being advanced based on this trend.
As of March 31, 2023, we held 1,622 design rights, with 535 inJapan and 1,087 overseas.

Copyrights
In addition to patents, designs, and trademarks, the YamahaGroup has produced a large number of copyrighted works inthe sound, music, and other fields. Music-related copyrights
are a particularly important form of intellectual property, and
the Group manages and utilizes these rights, taking legal action
when necessary. Education and training on the proper use of
copyrighted works are also provided to employees. In December
2022, training sessions on the theme of education were held forintellectual property managers and other relevant employees at
Yamaha Group companies.

BrandsOur brands have been an important asset, and a symbolof our responsibility toward customers and society, since
the establishment of the Company. The Yamaha Group has
implemented rules governing brand display methods and is
working to improve brand value through appropriate use basedon management standards related to Yamaha brands and under
the guidance of the Brand Strategy Committee, a Companywide
brand management organization. Furthermore, the Group
has trademarked its brand in almost every part of the world
and conducts preliminary surveys and acquires rights via theappropriate methods for the sub-brands of its products, services,and technologies.

Counterfeit Product Countermeasures
Through ongoing countermeasures for combatting unauthorizedusage of Group intellectual property and counterfeit products,
issues that are on the rise across the globe, the Yamaha Group73

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

continues to take action against these problems in order toeliminate the economic disadvantage for consumers while
ensuring safety and maintaining trust in the Yamaha brand. In
China, we are stepping up measures, including filing lawsuits
and requesting administrative disciplinary action, to combat the
recent trend toward the sale of counterfeit products over theinternet and social media.

Employee Education
The Yamaha Group conducts employee education programs topromote the appropriate use and management of intellectual
property.
In addition to holding annual in-house copyright seminars
targeting intellectual property representatives, we regularly
conduct study sessions that are specially tailored for specificdivisions and Group companies. Furthermore, all Yamaha Group
employees are administered tests to gauge their basic knowledge
on copyrights, patents, and trademarks as part of our efforts toraise intellectual property literacy.

Contribution to Regional Community
Development
Responsibility to Local Communities
The Yamaha Group recognizes that it has certain responsibilities
as a member of society. We therefore engage in communication
with local communities and advance various initiatives with the aimof contributing to the development of society as a good corporate
citizen. As we continue to make contributions to the popularizationand development of music culture around the world, we also aspire
to help further the development of the countries and regions inwhich our business sites are located through support for fostering
future generations and welfare programs.

Yamaha Sustainability Report 2023

4-3 Harmonization with Society >Communication with Local Communities
The Yamaha Group engages in ongoing communication with thecommunities that are home to its business sites to maintain good
relations with these communities.

• Donation of food from disaster stockpiles to food banks• Lending of instruments and holding of concerts
Note: Some activities were canceled in fiscal 2023 in response to
the COVID-19 pandemic.

At our business sites, we regularly hold information exchange
sessions with surrounding municipalities and solicit opinions andrequests at neighborhood council meetings.

Communication Activities Conducted at BusinessSites and Factories• Regular information exchange sessions with neighborhood

Information exchange session
at local neighborhood council
meeting (Headquarters)

Summer festival (Tenryu
Factory)

Regional cleanup effort(Kakegawa Factory)

Donation of food from disasterstockpiles to a food bank(Toyooka Factory)

councils (once annual forums for reporting on businessactivities, sharing opinions, and soliciting requests)• Factory tours• Accommodation of community study trips for local elementary
school students and hands-on workplace experience programsand tours for local junior high and high school students• Summer festivals for strengthening relationships with

communities• Signing of memorandums to open up facilities to the publicduring disasters• Participation in local events and celebrations• Exhibition in and cooperation with MUSIC SPOT at ShinTomei Expressway NEOPASA Hamamatsu and exhibition at
Hamamatsu Station on the Tokaido Shinkansen line
• Lending of facilities, parking lots, etc.
• Cooperation with regional safety patrol activities• Cooperation with regional environmental activities, including
participation in regional cleanup efforts by employees• Participation in joint disaster drills led by municipalities• Donation of household goods, sweets, etc., gathered throughcharity bazaars and donation campaigns to local organizations

Piano Factory Tours
At the Kakegawa Factory, a domestic piano manufacturing site,
we open our doors to public visitors so that they can observe
the process of making grand pianos and thereby experience theappeal of instruments and music. In factory tours, visitors see
how we use modern techniques and some traditional, more than
100-year-old manufacturing processes. Visitors also pass throughthe adjacent showroom, where we display valuable instruments aswell as instruments that visitors are invited to try out. In addition,
visitors witness the environmental preservation initiatives woven
into our product creation activities. We accommodate a plethora

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Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Developmentof visitors, including professional and amateur musicians andlocal elementary school students on field trips, while also opening
our doors to general customers and organizations as part of ourefforts to foster understanding with regard to product creation
at the Yamaha Group. In fiscal 2023, factory tours were held withlimits on the number of participants in light of the COVID-19
pandemic, and we also provided remote (online) factory tours for
local elementary school students and Yamaha musical instrument
sales agents across Japan.
Piano Factory Tour (in Japanese only) >Visitors observing the grandpiano manufacturing process

Exhibition at the showroom

Public Opening of Corporate Museum
Opened in 2018, Innovation Road is a hands-on corporate museum
displaying exhibitions on the history of the products and servicesof the Yamaha Group. This museum allows general visitors to learn
about products and services from the Company’s founding until
today, their development process, and the Company’s vision for
the future via audio and visual exhibits. Since its opening, many
people have visited Innovation Road, including organizations,business partners, and community members.
Information regarding Innovation Road can be found on thefollowing website.
Corporate Museum >Yamaha Sustainability Report 2023

Yamaha Ladies Open Katsuragi >Entrance of Innovation Road

Exhibition area (History Walk)

Contributions to Communities through Yamaha
Ladies Open Katsuragi
Every year, Yamaha Corporation and Yamaha Motor Co., Ltd.,
jointly host the Yamaha Ladies Open Katsuragi women’s golf
tournament at the Katsuragi Golf Club located in Fukuroi City,
Shizuoka Prefecture. In fiscal 2023, this event was held with noentry restrictions for the first time in four years. We once again
took steps to manage the event in an eco-friendly manner throughmeans such as sorting garbage and encouraging visitors to use
public transportation. A number of uniquely Yamaha subeventswere also arranged, including opportunities to test out Yamaha
golf clubs and special lessons by pro golfers with contracts with
Yamaha. Thanks to the diligent efforts of a total of roughly 1,300
volunteers, and community members, and with support from local
government agencies, we were able to welcome some 11,000
visitors over the four-day period of the Yamaha Ladies Open
Katsuragi.
Since the first tournament in 2008, Yamaha Corporation has given
donations to local governments that have backed the tournament(Shizuoka prefectural government and five municipalities) asa token of our appreciation to community members for theircooperation and support of the event and as an expression of ourdesire to further strengthen these ties. These donations are to
be used for regional revitalization and social welfare activities,
such as maintaining sports facilities, buying vehicles for volunteer
activities, and funding cultural and educational venues.

Tournament winner Lala Anai
together with members ofvolunteer staff

Regional Contribution Activities through MusicThe Yamaha Group aims to make contributions to communities
and their invigoration and promote the popularization of musicby planning and holding music events in various regions aroundthe world. In addition to proposing ways of enjoying music to awide range of music and instrument lovers, we will also plan andprovide opportunities to perform to amateur musicians seeking totake their art to the next level.

Community Development through Music
Yamaha Music Japan Co., Ltd., is advancing the Oto-Machi Project
for Creating Musical Towns. The Oto-Machi Project aims torevitalize communities and create shared value for companies andsociety by harnessing "the power of music to connect people."
To address the issues faced by municipalities, communities, andcompanies, the Yamaha Group proposes and supports citizen
participatory projects, events, and programs that use music as atool for community development. The Group aims to help create
the independent communities that form sustainable community
foundations. Through the Oto-Machi Project, we promote newforms of social contribution activities by offering focused support
for the early stages of community development and building
schemes for places and times that allow for ongoing activities

75

Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

open to free participation by community members. In fiscal 2023,
we arranged a drum circle facilitator development workshop in
Toshima that mobilized a drum circle with the aim of fosteringcommunity leaders as one facet of the efforts of Toshima
Music Circle, a public-private partnership project launched incommemoration of the 90th anniversary of the establishmentof Toshima Ward. This workshop represented the creation of a
new approach toward community outreach. In addition, YamahaMusic Japan concluded a three-year partnership agreement with
Fukui Prefecture in February 2021. Through this agreement, we
will contribute to community development in Fukui Prefecturewith music. We are currently engaged in wide-ranging initiatives
together with local and prefectural government agencies andother organizations to create opportunities for musicians toperform in urban centers and other locations and along with
opportunities to view performances in one’s community. These
are just some of the activities we are implementing to promote thespread of music within Fukui Prefecture.
Community Development through Music (in Japanese only) >Drum circle workshop (MinamiIkebukuro Park in Toshima Ward)

Music promotion event in Fukui
Prefecture

Regional Contribution Activities by the Yamaha
Symphonic BandThe Yamaha Symphonic Band, which was established in 1961, isan amateur band comprised of Yamaha Group employees. The
band’s activities include holding regular musical performancesand pop concerts, supporting the Yamaha Baseball Club, andYamaha Sustainability Report 2023

performing regularly and appearing in contests in Japan andoverseas. The band also actively participates in events rooted inlocal communities while helping Hamamatsu City realize its vision
for becoming a "city of music." The Promenade Concert held infront of JR Hamamatsu Station is one example of these events.
Yamaha Symphonic Band >for helping grow the number of music fans and contribute to the
popularization of music culture. Such initiatives include engaging
with municipalities and cultural organizations and broadcasting
the appeal of Hamamatsu City and jazz throughout Japan via
jazz concerts for families, talk shows led by commentators, andlive online streaming. Other activities include arranging events
that serve as aspiration for outstanding student big bands fromacross Japan, holding big band workshops for students from thecommunity, and conducting in-school jazz concerts in which
professional musicians are sent to perform at elementary andjunior high schools in Hamamatsu City. These events are partof plans for cultivating future musicians by fostering artistic
sensitivity and expressiveness in children.

Promenade Concert

Hamamatsu Jazz Week
Each year, Yamaha Corporation holds Hamamatsu Jazz Week incooperation with Hamamatsu City and other co-organizers. The
event, which was first held in 1992, is part of the Hamamatsu City
government’s efforts to create a city with music at its core. As oneof the new undertakings in the 30th iteration of this event, which
was held in 2022, a jazz concert was arranged at a facility for seniorcitizens for the purpose of promoting senior health. The years ofcontributions made to the development of music culture throughthis event have earned recognition, with Yamaha being presented
with an event planning award in the popular culture category of
the 35th Music Pen Club Awards. Hosted through a joint effort
by the government and the community based on the theme ofjazz, which can be enjoyed by people of all ages, this unique
event has become an entrenched part of the local culture that is
beloved by fans of jazz and even people who are not. This event
features hall concerts by top-notch domestic and international
artists, live performances that allow guests to casually enjoy jazzon street corners, and events held in collaboration with local jazzclubs. In recent years, we have been embarking on new initiatives

Yamaha Jazz Festival

Next-Generation Jazz Stage
workshop for student big bands

Jazz concert at a facility forsenior citizens

Wind and String Instrument Performance Contests
Yamaha Music & Electronics (China) Co., Ltd. (YMEC), holds
wind and string instrument performance contests every year inlocations across China to provide opportunities for wind and76

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Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

string instrument performances. In fiscal 2023, contests werearranged for wind and string instrument enthusiasts. These
contests featured solo, ensemble, and band competitions.
Given the impacts of the COVID-19 pandemic, the contests wereconducted by recording videos of performances at the stores ofsales agents, and these videos were then submitted for judging
via online voting and by artists. A total of 3,959 individuals
participated in these contests.

with Hamamatsu City and other co-organizers, this world-leading
music festival is centered on wind instruments. In this event,
we arrange an academy in which we welcome wind instrument
players from around the world to help cultivate young andaspiring musicians looking to become professional performers.
Another part of this event is the festival, a concert for enjoying
wind instrument performances open to community members. A
major goal of this event is to promote music culture exchanges
and cultivate globally active performers in Hamamatsu City.

Cooperation with On-Site Tours, Hands-On Learning,and Educational Facilities

Wind and string instrument performance contest

Support for Fostering Future Generations
Support for Young and Aspiring Musicians
The Yamaha Group contributes to the spread and developmentof music culture at various music contests and workshops bothin Japan and overseas, including piano contests held acrossthe world. The Group not only provides musical instruments to
those pursuing a high artistic standard but also assists with therunning of the events.
Additionally, the Yamaha Group has set up scholarship systems
in different regions of the world to support young and aspiring
musicians. The Group also teams up with music education
institutions to offer ongoing support through the provision of
curriculum and seminars for instructors.
For example, the Hamamatsu International Wind Instrument
Academy and Festival was launched in 1995 as part of our efforts
to help make Hamamatsu City into a city of music. Held together

Yamaha Sustainability Report 2023

As part of our local contribution activities, the Yamaha Group
accepts requests from local educational institutions in parts of
the world where it has business sites and opens its workplaces forvisitors to experience hands-on learning. We also offer internships
and tours of our workplaces and factories for junior high and highschool students and help educational facilities prepare exhibits.
Through these efforts, we aim to support the young people whowill shape the future in formulating goals and developing apassion to work in the future.
Yamaha Corporation has been contributing to exhibits at theHamamatsu Science Museum since it opened to help developscience-oriented minds. The Hamamatsu Science Museum is anexperience-focused museum centered upon active learning thatprovides children and adults alike with the opportunity to have fun
while learning about science in the areas of sound, light, force,and space. Companies representing local communities exhibit
their technologies, products, and services at this learning facility.

everyday items such as cardboard boxes and toothpicks. Other
classes teach children how to make a folk instrument from Africa
called a mbira using offcuts from piano manufacturing. Furthermore,
we offer classes in which children make mini clappers the size of a
keychain so that they can carry them around and form an attachmentwith the instrument. These classes use musical instruments to offer
children a way to experience the process of manufacturing.
In fiscal 2017, we began participating in the "Company UD Visiting
Lectures" universal design program that is part of the efforts ofHamamatsu City to promote community development throughuniversal design. Through this program, we dispatch employees
to perform classes on Yamaha’s universal design initiatives atelementary and junior high schools based on requests from local
municipal government agencies and educational institutions. In
fiscal 2023, we conducted classes on this topic at two Hamamatsu
City elementary schools in which we explained the importanceof universal design in city development. These classes lookedat the Daredemo Piano, which allows anyone, including seniorcitizens and people with disabilities, to enjoy playing the piano
as a melody can be played with only one finger thanks to support
provided by automatic accompaniment and pedal movement.
Looking ahead, the YamahaGroup will continue tocooperate in such initiatives
to spread understanding ofuniversal design and the joy ofmusic to children.

Class at school on Yamaha’s
musical instruments and services

Manufacturing Classes and On-Site Lessons
Throughout each year, Yamaha Corporation works with local
educational institutions to offer classes teaching children about
manufacturing. For example, we hold handmade guitar classes inwhich children create their own handmade one-string guitars using

Wooden Blocks for Children Made from Piano Offcuts
Yamaha Music Manufacturing Japan Corporation provides
wooden blocks made from offcuts produced during the piano
manufacturing process to local kindergartens, preschools,

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Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

elementary schools, and public facilities. Continuing since 1998,
this program is a chance to contribute to the community while
simultaneously finding a useful purpose for waste material.

for junior high school students as well as sports workshops thatsaw participation from a total of 270 elementary school students.
* This business has been run by Hamamatsu City since fiscal 2017 andentails holding sports classes by sending local top athletes to sports
organizations and schools. By imparting the skills and experiences of top
athletes, the objective is to uncover the next generation of top athletes
and increase the number of children participating in sports.

Craft making using offcuts

Baseball Clinics for Youth Teams Provided by the
Yamaha Baseball ClubThe Yamaha Baseball Club holds baseball clinics for local youth
baseball teams in western and central Shizuoka Prefecture as partof its efforts to contribute to the community and the developmentof young people in the area through sports. At these clinics,
members of the Yamaha Baseball Club provide instructions andexamples to teach young ball players techniques such as how
to shift their weight when pitching, where to step, basic posturewhen fielding infield and outfield, play combinations, and how tofollow the ball when batting. The clinics help foster healthy young
baseball players while nurturing the dreams and supporting thedevelopment of young people. Furthermore, the Junior BaseballInstructing Club, primarily made up of former members of the
Yamaha Baseball Club, holds baseball health examinations forchildren during the clinics. As part of the exams, sports medicine
doctors help children with baseball injuries and give them advice
to help prevent injuries and accidents. Since fiscal 2017, theCompany has participated in Hamamatsu City’s Top Athlete
Partnership Business,* arranging by various sports workshops
based on requests from local educational facilities. In fiscal 2023,
we expanded the scope of activities by organizing workshops on
games played with balls for preschoolers and baseball workshops

Yamaha Sustainability Report 2023

Baseball lesson

Baseball health examination

School Music Education Support
The Yamaha Group supports music education at schools invarious regions of the world. Community-rooted efforts are madeto contribute to the enrichment of course content by providing
instruments, offering courses on methods of instruction to music
instructors, and supplying music-related information.

Yamaha School Project—Providing Opportunities toPlay Musical Instruments
In order to enable more children to experience the joy of playing
a musical instrument, the Yamaha Group has been carrying out
the School Project since 2015 to support instrumental musiceducation at public schools primarily in emerging countries.
The benefits of instrumental music education are so well
documented that such instruction is standard in schools aroundthe world. Conditions regarding such education vary greatly
by country, and schools in some countries are often unable toprovide musical education at a satisfactory level due to a lackof equipment or trained teachers or inadequate curriculum.
The Yamaha Group hopes to help provide these children with
opportunities for quality musical instrument performanceexperiences during the course of their public education.
As of March 31, 2023, we had provided opportunities for musicalinstrument performance experiences to an aggregate total ofroughly 2.02 million children at approximately 6,200 schools inseven countries (Malaysia, Indonesia, Vietnam, India, Brazil, theUnited Arab Emirates, and Egypt).
Our involvement in Egypt started with the introduction of
instrumental music education courses using recorders at nineelementary schools in November 2021. The scope of these
activities were expanded in November 2022 to include 40 schools,
and we have also prepared new materials based on Japanesestyle education practices to foster non-cognitive skills.
In fiscal 2023, Yamaha’s project for introducing Japanesestyle music education into primary education in Egypt as wellas its projects for introducing Japanese-style instrumental
music education into primary education in Brazil and India wereselected as 2022 pilot projects to receive support from EDU-Port
Japan by the Ministry of Education, Culture, Sports, Science andTechnology. We will continue to share and verify the successes
and challenges of these projects with the Ministry of Education,
Culture, Sports, Science and Technology as we strive to promote
Japanese-style education in the respective countries.
Yamaha projects in Vietnam were selected
to receive support from EDU-Port Japan in
fiscal 2017 and fiscal 2019 and a project inEgypt was selected in fiscal 2021.
Features >School Project >78

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Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

schools. However, students often do not have much opportunity
to learn about musical instrument maintenance at local schools,
and there arise situations in which the students are unable toproperly produce notes despite owning high-quality instruments
as these instruments become damaged.
Music class in India

Music class in Egypt
Recorder lesson in South Africa

Recorder lesson in Nigeria

School Wind Band Workshops and Instructor Training

Music Education Programs in the Middle East and Africa
Yamaha Music Gulf FZE (YMGF), a Yamaha subsidiary tasked
with sales in the Middle East and Africa, regions where westernmusic education has not taken root, is engaged in activities
for promoting music education in schools based on the local
circumstances of the respective countries.
Countries incorporating music classes into school curricula
are incredibly rare in the Middle East and Africa due to culturaldifferences and a lack of instructors. In 2012, YMGF started a schoolmusic education promotion project in order to help foster aesthetic
sensibilities and support the growth of children through musicalinstrument education. YMGF carries out this project in collaboration
with local sales agents as it seeks to demonstrate the importance ofmusic education by inviting local education officials to observe classes
in Japanese elementary schools and to help foster local instructors.
Since starting the project with one school in South Africa in
2016, YMGF has continued to expand the scope of its activities.
As of March 31, 2023, YMGF had conducted recorder lessons foran aggregate total of roughly 10,000 students in 85 schools inseven countries (South Africa, Nigeria, Kuwait, the United ArabEmirates, Kenya, Morocco, and Uganda).

Yamaha Sustainability Report 2023

Since 2010, Yamaha Music & Electronics (China) Co., Ltd. (YMEC),
has been dispatching local and foreign instructors to holdworkshops for school wind bands in major and other cities. In
fiscal 2023, we were unable to hold these workshops due to theimpacts of the COVID-19 pandemic. Under normal circumstances,
YMEC would invite instructors from Japan to hold wind banddirector workshops to improve the wind instrument instruction
capabilities of general music teachers in conjunction with theworkshops for school wind bands. In fiscal 2023, YMEC arranged
online wind band director workshops led by Japanese instructors,
which were attended by roughly 260 band directors acrossJapan, to further its efforts to contribute to the education of banddirectors.

To help schools become an environment more conducive to music
performances, Yamaha Music Korea Ltd. (YMK) has been visiting
schools with orchestras since 2013 to hold seminars on musicalinstrument maintenance and offer to repair instruments freeof charge. To date, YMK has visited over 350 schools to teachstudents how important it is to maintain their instruments in goodcondition, thereby supporting music activities in these schools
and contributing to the development of music culture in South
Korea.

Maintenance seminar

Musical instrument maintenance

K-ONB Program for Offering Musical Instruments andEquipment Support to Nationwide High School LightMusic Clubs
Yamaha Music Japan Co., Ltd., has launched its K-ONB programfor providing support regarding musical instruments andequipment to high school light music clubs, which are becoming
increasingly popular across Japan.
Wind band director workshop

Student Band Maintenance Seminar
In South Korea, band (wind instruments), orchestra, and othermusic activities are popular among extracurricular activities inMembership in high school light music clubs has been growing
rapidly as a result of the influence of popular anime works and video
games. However, this has created a situation in which there are a large
number of instructors who lack the necessary knowledge regarding79

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Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

instruments and equipment as well as numerous students that do notunderstand the proper methods of tuning and performing maintenanceon their instruments. Seeking to support such light music clubs,
Yamaha Music Japan visited a total of more than 400 high schools andconcert sites in fiscal 2023. This company also arranges workshops on
how to use club equipment that are tailored to the specific equipment
and environments at different schools, holds technical workshops
on musical instruments, offers advice on band performances, andprovides other forms of support to accommodate the needs of a given
club. In addition, we reach out to high schools through mediums suchas Twitter and Instagram, uploading equipment-related content that isbeneficial to light music clubs as part of a support approach that takes
advantage of both online and offline venues.

Workshop on musical instrument
and equipment use and band
performance held at high schoolfor light music club

K-ONB High School LightMusic Club Support Website (inJapanese only) >Donation of Musical Instruments to Schools for theChildren of Migrant Farmers
Yamaha Music & Electronics (China) Co., Ltd. (YMEC), together
with four manufacturing subsidiaries and major sales agentsin China, has been donating instruments to schools for thechildren of migrant farmers across China since fiscal 2013. These
donations are a show of YMEC’s gratitude for local communities
and for the growth of its business in China.
YMEC continues to make such donations with the goal of giving
children the opportunity to experience music and learn the wonders

Yamaha Sustainability Report 2023

of instruments and thereby helping them to develop artistic
sensitivity. To date, 60 schools have received donations, and theaggregate amount of donations has reached approximately RMB5.2
million. In fiscal 2023, donations from YMEC were unfortunately
unable to be made due to the COVID-19 pandemic.
In addition, digital keyboards were donated to four senioreducation facilities as a way to support senior citizens. By
increasing opportunities to engage with music and musicalinstruments, YMEC aims to support feelings of emotional stability
and enrichment.

Ceremony commemorating donations to a senior education facility

School Music Education Support Websites
Yamaha Corporation is developing tools for supporting schoolmusic teachers as well as piano, Electone, and other music
instructors. For example, Music pal, a school music education
support website, provides information on Yamaha products aswell as content for learning fundamental music subjects such as
history and compositional rules. Website visitors will also findinformation on the origins and structures of musical instruments,
performance techniques, trivia, and other musical-related topics.
In this manner, Music pal is a valuable tool for helping people learn
more about the instruments that interest them while also providing

content useful for music coursework and investigative learning.
We also offer information on seminars and lectures for instructors,
websites featuring videos and case studies that explain instruction
techniques, and a concert band portal site that contains information
beneficial to the activities of junior high and high school concert
band clubs. With this myriad of options, we offer support for anyone
seeking an accessible way to better enjoy music.
Support for Music Instructors (in Japanese only) >Music pal (in Japanese only) >Japan Band Clinic
Yamaha Music Japan Co., Ltd., supports and takes part in theplanning of the Japan Band Clinic, which is comprised of lecturesand concerts for band directors from across the country. One ofJapan’s largest comprehensive band training events, the Japan
Band Clinic is designed to help improve the capabilities of Japan’sband directors and to further the spread and development of band
culture. This event was first held in 1970 and is open to schoolmusic teachers and all other band directors in Japan. Prominent
lecturers and bands from Japan and overseas are invited to takepart in this event, which includes lectures on how to instructand operate bands as well as concerts. In addition, the Japan
Band Clinic is an opportunity for sharing information on newmusic sheets, software,and other topics matched
to contemporary needs andfor proposing directions for
future band activities. In thismanner, the Japan Band Clinic
contributes to the developmentof Japan’s band culture.
Concert at 2022 Japan Band Clinic

Smart Education System Music Education Solution
Utilizing ICT
Since 2014, Yamaha Corporation has been developing the Smart

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Contents

Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

Education System (SES), a music education solution that utilizes
ICT, in the educational setting of schools. Capitalizing on theskills related to music it has developed over the course of many
years, as well as its knowledge about music education, Yamaha
Corporation has repeatedly conducted trial classes with the helpof elementary and junior high schools across the country throughwhich it has developed digital classroom teaching materials,
which have been positively received.

Digital materials for Melodica
Class

Primarily aimed at elementary and junior high school students, thesematerials are not simply teaching materials, but content packages
covering how to lead classes following course curriculum guidelines,
cautionary tips to keep in mind when teaching, and videos onfoundational knowledge needed for performance. These packages
have been designed for ease of use by teachers in schools in orderto help foster students’ imaginative and theoretical skills while
simultaneously allowing teachers to teach easily and effectively.

Website for communicating music class ideas (in Japanese only) >Smart Education System (SES) (in Japanese only) >The installation of ICT infrastructure in schools accelerated amid
the COVID-19 pandemic, and it now is increasingly common forschools to distribute a learning-use terminal to every student.
This situation is stimulating growth in demand for digital teachingmaterials. In response to the need of schools for digital teachingmaterials that can be accessed via internet browsers, we enhanced
the digital music teaching materials offered through the SES(Soprano Recorder Class and Melodica Class) to allow thesematerials, which previously had to be installed, to be used throughcloud services. Moreover, we expanded the range of operating
systems with which our digital teaching materials are compatible
and also made it possible to use these materials on iPads.

Many schools have been exploring online and hybrid classes aspart of their efforts to adapt to the COVID-19 pandemic. Highquality online communication between students and teachers isimperative to the success of such new approaches toward classes.
Yamaha has long been engaged in providing ICT-powered audio
support for remote classes. Specific undertakings on this front
have included joint classes between different schools, special
exchange classes between sister schools, and collaborativeclasses for isolated islands and underpopulated areas that lackspecialized teachers. Based on this experience, we understandthat the voice quality of classes and lectures is imperative to
distance learning as interference or interruptions can impede a
student’s ability to understand classes. For this reason, the ability
to deliver a clear, uninterrupted voice is absolutely essential.

Through the SES, Yamaha Corporation plans to capitalize on thebenefits of digital music classroom materials, namely their ability to bequickly adjusted to adapt to changes in the social climate and trends,
to provide support for new forms of music education by promoting thewidespread use of cloud services and other digital solutions.
Yamaha Sustainability Report 2023

Distance Learning Using Web Conference Microphone
Speakers

In cooperation with prefectural education boards, educational
institutions, and other companies, Yamaha promotes the useof voice communication devices, such as web conference
microphone speakers, for distance learning programs. Yamaha’s

high-quality web conference microphone speakers feature easy
installation and configuration and allow for distance learningclasses, ranging from small classes with one or two students
to larger classes in the area of 40 students, to be held in a
hassle-free manner with optimal voice quality not hampered byreverberations or interference.

Online class communicating
voices of both teacher andstudents as well as theatmosphere of classroom(Namiki Junior High School,
Ibaraki Prefecture)

Live class streaming scheme
using digital blackboard
and YVC-1000 unified
communication microphone andspeaker systems (Tango Ryokufu
High School, Kyoto Prefecture)

Support for Community Development throughMusic Popularization
The Yamaha Group contributes to the healthy development ofyouths, to the development of music education and culture,and to the preservation of traditional music through activities
that include bringing music and musical instruments to local
communities in addition to activities to popularize music.

Support Activities through the AMIGO Project
In many countries in Central and South America, crime and poverty as
well as social inequality are serious social problems. In order to enable
the children in such environments to grow up in a healthy manner, rather
than leaning toward crime, delinquency, or violence, music education
activities are provided free of charge as a country policy. These activities
have led to the formation of regional youth orchestras and band groups.
Endorsing such activities, the Yamaha Group has long offered support
for activities that draw participation by large numbers of children.

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Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

The AMIGO Project was launched in 2014 and entails holding
maintenance seminars to spread knowledge regarding instrument
maintenance and to help children learn how to maintain instrumentson their own. In addition, we hold technician seminars to foster
technicians that can repair instruments and offer other forms of
support to aid in the development of an environment in which children
can more easily continue to play music. This project is currently activein eight Latin American countries (Mexico, El Salvador, Costa Rica,
Panama, the Dominican Republic, Colombia, Peru, and Brazil).

In 2017, we established the non-profit organization Fundação
Sopro Novo Yamaha. At this time, we began to lobby thegovernment to adopt direct music education and started
expanding the scope of recorder lessons to provide music teacher
training and music education instruction in public schools.

Online recorder lessons

LovePiano Street Piano Events—Making People More
Familiar with Pianos
Youth development orchestra
and band organization (Mexico)

Technician seminar

Recorder Music Popularization Seminar by Sopro Novo
Yamaha Musical do Brasil Ltda. (YMDB) began its Sopro Novo (NewBreath) activities in 2005 and has since been holding recorder music
popularization seminars for music teachers throughout Brazil.
These seminars entail music instruction lessons that comprehensively
provide instruments, textbooks, and teaching methods. Startingwith how to read music and ending, ultimately, with ensemble
performances, seminar members learn music performance techniques
so that they can begin giving music instruction to beginners after
completing the lessons. In Brazilian schools, there is no regularmusic education in the compulsory curriculum. For this reason, thecultivation of music instructors plays an important role in granting
children their first opportunity to learn music. To date, Sopro Novoseminars have been held over 1,600 times in 189 cities and havetrained approximately 5,000 instructors. The number of children
taught by those instructors has reached more than 610,000.

Yamaha Sustainability Report 2023

Since 2017, Yamaha Music Japan Co., Ltd., has been conducting
LovePiano activities that involve providing casual performance
spaces based on the concept of feeling more familiar with pianos
and enjoying them more. Centered on the theme of LovePiano,
these activities include placing colorfully painted pianos in open
spaces like train stations, airports, and commercial facilities, where
they can be played by anyone, to allow a wide range of people toform a connection with the piano. To date, such pianos have beenplaced in more than 120 locations across Japan, providing casual
opportunities to play and creating spaces for forging connections
with people through the piano and the surrounding excitement.
In fiscal 2022, Yamaha Music & Electronics China Co., Ltd. (YMEC),
launched its own LovePiano program. Activities through thisproject thus far have included the placing of four pianos painted by
students of Shanghai Theater Academy in open spaces in Nanjing
City shopping malls in February 2022. In addition, a virtual piano
painting event was held that allowed individuals to design and post
the piano of their liking online. This event was meant to give people
who cannot play the piano a way to participate in this program.

We intend to continue these LovePiano activities with the hopesof encouraging people to start playing piano while also spurring
former pianists to pick up the instrument again and helping addresssocial issues through community building and energization.

Tamagawa Takashimaya
Department Store (28th Kineko
International Film Festival)

Travelling LovePiano
collaboration event with
Hoshino Resorts Inc.

Morin Khuur Real Sound Viewing Exhibition
Reproducing Traditional Instrument Performances
through Video and Authentic Instrument Sounds
Over the period from October 27 to December 13, 2022, theHamamatsu Museum of Musical Instruments and Yamaha helda Real Sound Viewing exhibition that reproduced morin khuur(Mongolian string instrument) performances. Following thechikuzen biwa (traditional Japanese lute) exhibition held in 2021,
this is the second exhibition to take advantage of Yamaha’s RealSound Viewing system, which we are developing with the goal offaithfully preserving the performances of artists.
Through this system, we digitized the sound from performances
and translated this data into vibrations that were transmitted
to the instruments to generate sound from the instrument andthereby automatically reproduce the performances of artists.
The authentically reproduced performances from the traditional
Mongolian instruments on display is combined with life-sized videoof performances to make for a vivid virtual performance that feels
as though one is watching the real thing. Through such initiatives,
Yamaha is committed to broadcasting the appeal of traditional82

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Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Human Rights
Promotion of Diversity, Equity, and Inclusion
Human Resources Development
Promotion of Work-Life BalanceCommunication between Labor and Management
Employee Health and Safety
Promotion of Social Responsibility in the Value Chain
Safety and Quality of Products and Services
Improvement of Customer Satisfaction
Intellectual Property
Contribution to Regional Community Development

instruments and music andto preserving music cultural
artifacts, both the tangible
elements of instruments andthe intangible elements ofthe music they play, for future
generations.

• Participation in Making Strides Walk, an activity supported by
the American Cancer Society
United Sound website >American Cancer Society website >Making Strides Walk website >Social Contribution Activities
Promotion of Employee Volunteer Activities

Voluntary Philanthropic Activities by Employees
Yamaha Corporation of America launched the Yamaha Cares
employee voluntary philanthropic activity program in 2003. Yamaha
Cares is aimed at contributing to the regions in which employees
live and work by donations, collecting contributions, providing
Yamaha products, and conducting other initiatives. One such activity
is a donation drive benefitting a children’s hospital researching
the treatment of Type 1 juvenile diabetes. Every year, employees
participate in the Southern California Half Marathon and solicit
contributions, which have exceeded U.S.$110,000 in total. Yamaha
Cares continues to support the hospital, which is one of the few
institutions researching the treatment of juvenile diabetes.
Major Yamaha Cares Activities• Fundraising efforts for a children’s hospital• Donations, including donations of Yamaha products, to afterschool programs (run by United Sound, Inc.) providing musicalperformance experiences to children with development disorders

Yamaha Sustainability Report 2023

Initiatives to Support Areas Impacted by Natural Disasters
The Yamaha Group implements initiatives for supporting therecovery of areas impacted by natural disasters in the domestic andoverseas regions in which it has factories and other operating bases.
Furthermore, we offer support for the recovery of areas impacted
by disasters through special repair and other services for Yamaha
products damaged by disasters available to customers impacted bydisasters in regions applicable under the Disaster Relief Act.

Real Sound Viewing >The Yamaha Group promotes employee participation in volunteer
activities. In addition to establishing various programs, we use
the Company intranet and other means to share information on
available volunteer opportunities while also publicizing examples
of previous volunteer activities.

Group business sites donate food from their disaster stockpiles tofood banks before these items are due to be replaced in order tohelp prevent food loss, provide aid to disadvantaged people, andcombat environmental activities.

Employees raising funds through half marathon to be donated toChildren’s Hospital of Orange County

Support Provided in Fiscal 2023
Support for the victims and affected areas of the Turkey-Syria
earthquake >External Recognition
Receipt of Medal with Dark Blue Ribbon for
Humanitarian Support for Ukraine

Fundraising activities and Yamaha product donations to variousorganizations

Donation of Food from Disaster Stockpiles to Food Banks
Food banks are organizations that supply food items, freeof charge, to organizations or socially disadvantaged people
who need them. The food items supplied are received throughdonations from companies and individuals of food that is safe toeat but would otherwise be discarded, due to reasons such as an
inability to be sold because of packaging or labelling mistakes
or damages. Supporting the aims of these activities, Yamaha

In fiscal 2022, Yamaha Corporation was presented with a Medalwith Dark Blue Ribbon, one of the honors bestowed by the Japanese
government, in response to its donation of U.S.$300,000 in humanitarian
support to Ukraine through the Office of the United Nations HighCommissioner for Refugees (UNHCR)* and the United Nations Children’s
Fund (UNICEF). The Medal with Dark Blue Ribbon is presented toindividuals, companies, and organizations that utilize private assets tocontribute to the public good. Moreover, Yamaha has been presented
with certificates of merit from both the UNHCR and UNICEF.
The Yamaha Group prays for a swift end to the war in Ukraine and thequick restoration of peace.
* Donations to the UNHCR were made through Japan for UNHCR, theofficial support venue for the UNHCR in Japan.

83

Contents

Yamaha Group Sustainability

Corporate GovernanceRisk Management
Dialogue with Shareholders and Investors

E: Environment

Compliance

S: Social

G: GovernanceFair Operating Practices

Participation in Initiatives

Yamaha Group Tax Compliance

External Recognition

Editorial Policy

Information Security and Personal Information Protection

G: Governance
The Yamaha Group is executing highly transparent and healthy
management through the strengthening of corporate governancestructures, promotion of compliance, appropriate disclosure of
information, and other measures in order to further strengthen
the trust of all stakeholders.

Corporate Governance
Basic Policies for Corporate Governance
The Yamaha Group (hereinafter referred to as the “Yamaha Group”
or “the Group”) aims to create a social that realizes the well-being ofpeople around the world. To achieve this goal, we have set forth the
Yamaha Philosophy as our Corporate Philosophy and our Promises
to Stakeholders, which we have made to all related parties, and will
work to ensure sustainable growth and to enhance the enterprisevalue over the medium-to-longer term. At the same time, based on the“Basic policies for corporate governance” presented below and thepolicies stated in Chapter I and thereafter, along with putting in place
the organizational design, operating framework, and mechanisms aswell as implementing various measures to manage the Company, we
will carry out quality business management in a transparent manner
through the appropriate disclosure of information.

Basic policies for corporate governance• From a shareholder's perspective, ensure the rights and equal

Basic Corporate Governance System
Yamaha Corporation made the transition to a Company with Three
Committees (Nominating, Audit, and Compensation) from June 22,2017, with the objectives of making a clear separation between theoversight and the execution in management, thereby enhancing
the oversight function of the Board of Directors and speeding up
the execution of business.

Corporate Governance Structure (as of June 23, 2023)

Regarding the composition of the Board of Directors, theCompany has appointed a Board with three fourths (3/4) of
the members from outside with a diversity of backgrounds andspecialties, including persons with management experience inother industries. Also, by forming a Nominating Committee, Audit
Committee, and Compensation Committee with a majority of
independent Outside Directors as obligated by law, the Company
can execute its oversight function with further transparency andobjectivity. The Audit Committee will strengthen the oversightfunction through audit by implementing
validity checks in addition to legal checks, incooperation with the Internal Audit Division.
Also, as an official function under theCompanies Act, the Company established the
Executive Officer position to assume a direct
responsibility to shareholders, and they havebeen delegated major authority from the Boardof Directors. By having the Executive Officers
functioning as important decision-makers in theexecution of business operations, the Company
is aiming to speed up this process.
By implementing the abovementioned measures
to strengthen the oversight functions and speed
up the execution, the Company endeavors tofurther strengthen corporate governance and tocontinuously increase corporate value.

treatment of shareholders• Taking into consideration our relationships with all stakeholders,
proactively fulfill the Company's social responsibilities• Ensure that information is disclosed appropriately and the
management is transparent• By separating the oversight and executive functions andstrengthening the oversight function, ensure that the Board of
Directors is highly effective while at the same time executing
decisions appropriately and with a sense of urgency• Proactively engage in dialogue with shareholders
Yamaha Sustainability Report 2023

84

Contents

Yamaha Group Sustainability

E: Environment

Corporate GovernanceRisk Management
Dialogue with Shareholders and Investors

Compliance

Governance Organization Personnel(Yamaha Corporation, as of June 23, 2023)

Total

S: Social

G: GovernanceFair Operating Practices

Participation in Initiatives

Yamaha Group Tax Compliance

Governance Organization Personnel, by Nationality(Yamaha Corporation, as of June 23, 2023)

Male

Female62

Directors

Japan

Overseas

Total

7

1

Directors
Outside Directors

42

Outside Directors

5

1

Total

5

0

Total

5

0

President andRepresentative Executive
Officer

10President and Representative
1
Executive Officer0Managing Executive
OfficerManaging Executive Officers

2

0

2

0

Operating Officers

91Operating
Officers

Total

8

2

Audit Officers

20

Audit Officers

Total

2

0

Directors and Officers >Nominating
Committee
Members

Total

4

0

Outside Directors

3

0

Audit
Committee
Members

Total

1

2

Outside Directors

12Compensation
Committee
Members

Total

4

0

Outside Directors

30

Executive
Officers

Yamaha Sustainability Report 2023

Executive
Officers

Directors and Board of Directors
The number of Directors of the Company is eight (8) as of June 23,
2023 (six (6) of them are Outside Directors). The Board Meeting
held monthly (in principle). In keeping with its fiduciary duty, theBoard of Directors presses for the Group’s sustainable growthand enhancement of enterprise value over the medium-to-longer
term. The Board of Directors oversees the conduct of duties by
the Executive Officers and the Directors, and makes decisions
on important matters that are specified in laws and regulations,
the Articles of Incorporation, and Regulations of the Boardof Directors, including basic management policy. In addition,
the Board of Directors supervises overall management of theCompany through overseeing the succession plan for the Chief
Executive Officer and other officers, selecting the members andthe chairs of the Nominating Committee, Audit Committee, andthe Compensation Committee, appointing Executive Officers,

External Recognition

Editorial Policy

Information Security and Personal Information Protection

Operating Officers and Audit Officers, approving transactions withrelated parties, and supervising the development and operation of
the Internal Control Systems.
In keeping with its fiduciary duties, the Directors act to ensure theCompany’s sustainable growth and enhance its enterprise value
over the medium-to-longer term, taking into consideration therelationships with all stakeholders.
Directors understand relevant laws and regulations and theCompany’s Articles of Incorporation and gather sufficient
information in order to proactively express their opinions andengage in constructive discussions at the Board of Directors’
meetings as elsewhere.
In accordance with the Article 26, Paragraph 2 of the Company’s
Articles of Incorporation under the Article 427, Paragraph 1 of theCompanies Act, the Company has entered into agreements with
non-operating director to limit their liability for damages causedby negligence in executing their duties.
The Board of Directors held a total of fourteen (13) meetings
during the fiscal 2023 (from April 1, 2022 through March 31, 2023
the same shall apply hereinafter).

Nominating Committee
The number of members of Nominating Committee is four (4) asof June 23, 2023 (three (3) of them are Outside Directors). The
Nominating Committee decides on the content of the proposals tobe submitted to the General Shareholders’ Meeting for selection/
dismissal of Directors and the content of proposals submitted
to the Board of Directors for selection/dismissal of Executive
Officers and Operating Officers. The Nominating Committee also
implements the succession plan for the Chief Executive Officer
and other officers through activities to develop human resourcesthat can assume the positions of Director, Executive Officer, andOperating Officer.
The Nominating Committee held a total of four (4) meetings
during the fiscal 2023.

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Yamaha Group Sustainability

Corporate GovernanceRisk Management
Dialogue with Shareholders and Investors

E: Environment

Compliance

Audit Committee
The number of members of Audit Committee is three (3) as ofJune 23, 2023 (three (3) of them are Outside Directors). The chair
shall be an Independent Outside Director. The Audit Committee,
either working in collaboration with the Internal Auditing Divisionor conducting audits directly on its own initiative, audits the
structure and operation of the internal control systems of theCompany and other Group companies. Based on the results, theAudit Committee conducts audits to determine the legality andappropriateness of the conduct of duties by the Executive Officers
and Directors.
When deemed necessary, members of the Audit Committee reportto or express their opinions to the Board of Directors, or may issue
cease and desist orders to Executive Officers and/or Directors.
In addition, the Audit Committee may decide on proposals to beconsidered in the General Shareholders’ Meeting, including theselection/dismissal of the accounting auditor.
The Audit Committee held a total of sixteen (20) meetings during
the fiscal 2023.

Compensation Committee
The number of members of Compensation Committee is four(4) as of June 23, 2023 (three (3) of them are Outside Directors).
The Compensation Committee establishes policies regarding
the setting of compensation for Directors, Executive Officers,
and Operating Officers and, based on these policies, sets thecompensation of such officers individually.
The Compensation Committee held a total of four (3) meetings
during the fiscal 2023.

Executive Officers
The number of Executive Officers is Five (5) as of June 23, 2023
(one (1) of them is the Representative Executive Officer and two(2) of them are the Managing Executive Officers). The Executive
Officers shall be responsible for the execution of business andYamaha Sustainability Report 2023

S: Social

G: GovernanceFair Operating Practices

Participation in Initiatives

Yamaha Group Tax Compliancewill make important decisions from a Companywide perspective
on matters related to the conduct of business that have beendelegated to them by the Board of Directors and will be subject tothe oversight of the Board of Directors.

Operating Officers
The number of Operating Officers is ten (10) as of June 23, 2023.
The Operating Officers will execute the business activities they
are responsible for from a Companywide perspective based on theimportant decisions related to conduct of business by the Boardof Directors or the Executive Officers, under the oversight of the
Executive Officers.

Audit Officers

External Recognition

Editorial Policy

Information Security and Personal Information Protection

Nominating Committee gathers opinions from the Audit
Committee in advance.
For Executive Officers, the Nominating Committees selects
candidates based on basic personal qualities and capabilities,
competency, experience, and record of achievements that are
required of Executive Officers as defined by their respective roles,
and then decides on the content of selection proposals to besubmitted to the Board of Directors.
For Operating Officers, the Nominating Committee selects
candidates based on personal qualities and capabilities they are
required to play as defined by their respective roles, and thendecides on the content of selection proposals to be submitted to
the Board of Directors.

The number of Audit Officers is two (2) as of June 23, 2023. The
Audit Officers will be responsible for auditing functions in the
Yamaha Group as a member of the management team at theequivalent position as Operating Officers.

Process and Standards for Selecting Directors andOther Personnel
Regarding the selection of candidates for Director, theNominating Committee selects candidates based on basic
personal qualities and capabilities, competency, experience andrecord of achievements that are required of internal directors andoutside directors as defined by their respective roles, and thendecides on the content of selection proposals to be submitted to
the General Shareholders' Meeting.
Regarding the selection of members and the chairs of theNominating Committee, Audit Committee, and Compensation
Committee, the Nominating Committee selects candidates basedon personal qualities and capabilities as defined by the rolesof each of these committees. The Nominating Committee thendecides on the content of selection proposals to be submitted to
the Board of Directors. Note that for the selection of candidates
for the members and the chair of the Audit Committee, the86Contents

Yamaha Group Sustainability

Corporate GovernanceRisk Management
Dialogue with Shareholders and Investors

E: Environment

Compliance

S: Social

G: GovernanceFair Operating Practices

Participation in Initiatives

Yamaha Group Tax Compliance

External Recognition

Editorial Policy

Information Security and Personal Information Protection

Reason for Appointment of Directors
Title

Name

Reason for appointment

Director Takuya
NakataHaving served in positions such as General Manager of our Pro Audio & Digital Musical Instruments Division, President and Director of Yamaha Corporation of America, Mr. Takuya Nakata
has a wealth of experience and achievements alongside broad insight in business. He has led the Group as President and Representative Director since June 2013, and as Director, President
and Representative Executive Officer since June 2017 after our transition to a Company with Three Committees (Nominating, Audit, and Compensation). Additionally, he has been a leader in
Corporate Governance reform via initiatives such as the transition to a Company with Three Committees (Nominating, Audit, and Compensation), and has worked to strengthen the oversightfunction of the Board of Directors. He was appointed as a director on expectations that he would help further strengthen the oversight function of the Board of Directors through theseachievements and insights, etc.

Director Satoshi
Yamahata

In addition to work experience at an overseas subsidiary, Mr. Satoshi Yamahata has served as General Manager of the Accounting and Finance Division, General Manager of the Corporate
Planning Division, Executive General Manager of the Operations Unit, and Executive General Manager of the Corporate Management Unit, and has a wealth of experience and achievements
alongside broad insight. He has promoted Corporate Governance reform as Director and Senior Executive Manager since June 2015 and as Director and Managing Executive Officer sinceJune 2017, and has worked to strengthen the oversight function of the Board of Directors. He was appointed as a director on expectations that he would help further strengthen the oversightfunction of the Board of Directors through these achievements and insights, etc.

Director Yoshihiro
HidakaHaving been involved in management at one of the largest global transportation equipment manufacturers in Japan, Mr. Yoshihiro Hidaka has a wealth of experience and achievements
alongside broad insight as a corporate manager. Additionally, as President and Representative Director of Yamaha Motor Co., Ltd., a company that shares a common brand with the Company,
he is a person with one of the deepest understandings of the Yamaha brand. Since assuming the position of Outside Director of the Company in June 2018, he has provided highly effective
supervision while supporting the determination of major corporate actions and quick and decisive execution on decision-making, based on his wealth of achievements and insights, etc., asa corporate manager. He was appointed as a director on expectations that he would help further strengthen the oversight function of the Board of Directors through these achievements andinsights, etc., and improve the Yamaha brand value.

Director Mikio
Fujitsuka

Having been involved in management as CFO at one of the largest global construction machinery manufacturers in Japan, Mr. Mikio Fujitsuka has a wealth of experience and achievements
alongside broad insight as a corporate manager, as well as adequate knowledge of finance and accounting. Since assuming the position of Outside Director of the Company in June 2019,he has provided highly effective supervision while supporting the determination of major corporate actions and quick and decisive execution on decision-making, based on his wealth ofachievements and insights, etc., as a corporate manager. He has been appointed as a director on expectations that he will help further strengthen the oversight function of the Board of
Directors through these achievements and insights, etc.

Director Paul
Candland

Having been involved in management as the person responsible for the Asian region and Japanese arm of a global entertainment company, Mr. Paul Candland has a wealth of experience andachievements alongside broad insight as a corporate officer as well as broad knowledge of brand and marketing.
Since assuming the position of Outside Director of the Company in June 2019, he has provided highly effective supervision while supporting the determination of major corporate actions andquick and decisive execution on decision-making, based on his wealth of achievements and insights, etc., as a corporate officer. He has been nominated as a director on expectations that hewill help further strengthen the oversight function of the Board of Directors through these achievements and insights, etc.

Director Hiromichi
Shinohara

Having been involved in management as a representative director of one of the largest communications and ICT companies in Japan, Mr. Hiromichi Shinohara has a wealth of experience andachievements alongside broad insight as a corporate officer. He also has wide-ranging and in-depth knowledge of communications systems and electronics. He has been nominated as adirector on expectations that he will help strengthen the oversight function of the Board of Directors through these achievements and insights, etc.

Director Naoko
Yoshizawa

Having been involved in management as an executive officer of one of the largest electronics and ICT companies in Japan and as the CEO of its overseas group company, Ms. Naoko
Yoshizawa has a wealth of experience and achievements alongside broad insight as a corporate officer. She also has a high degree of expertise in digital and AI technologies. She has been
nominated as a director on expectations that she will help strengthen the oversight function of the Board of Directors through these achievements and insights, etc.

Director Naho
Ebata

With a mastery of corporate law, corporate governance and field of intellectual properties in Japan and overseas as an attorney, Ms. Naho Ebata has a high degree of expertise, wealth ofexperience and achievements alongside broad insight.
She has been nominated as a director on expectations that she will help further strengthen the oversight function of the Board of Directors through these achievements and insights, etc.

* Yamaha has registered six Outside Directors — Yoshihiro Hidaka, Mikio Fujitsuka, Paul Candland, Hiromichi Shinohara, Naoko Yoshizawa and Naho Ebata — as independent directors pursuant to Tokyo Stock Exchange provisions (as of June 23, 2023).

Yamaha Sustainability Report 2023

87

Contents

Yamaha Group Sustainability

E: Environment

Corporate GovernanceRisk Management
Dialogue with Shareholders and Investors

S: Social

Compliance

G: GovernanceFair Operating Practices

Participation in Initiatives

Yamaha Group Tax ComplianceCorporate
management

Legal
Manufacturing,
Finance andand risk
IT and digital technology,
accounting
management
and R&D

Marketingand sales

Globalxx

Takuya Nakata-

Satoshi Yamahata-

Yoshihiro Hidaka

Outsidex

Mikio Fujitsuka

Outsidex

Paul Candland

Outsidex

Hiromichi Shinohara Outside

x

x

x

x

Naoko Yoshizawa

Outside

x

x

x

x

Naho Ebata

Outside

x

x
x
x

x

x

x

x

x

x

x
x

x

x

x

Major Activities by Outside Directors in the Year Ended March 31, 2023

Total meetings held

Board ofDirectors

Nominating
Committee

Audit Committee

Compensation
Committee

13

4

20

3

Outside Director
Yoshihiro Hidaka

Attended

13

3

-

3

Attendance rate*

100%

75%

-

100%

Outside Director
Mikio Fujitsuka

Attended

13

-

20

-

Attendance rate*

100%

-

100%

-

Outside Director
Paul Candland

Attended

13

4

-

3

Attendance rate*

100%

100%

-

100%

Outside Director
Hiromichi Shinohara

Attended

13

4

-

3

Attendance rate*

100%

100%

-

100%

Outside Director
Naoko Yoshizawa

Attended

13

-

20

-

Attendance rate*

100%

-

100%

-

Outside Director
Naho Ebata

Attended

-

-

-

-

Attendance rate*

-

-

-

-

* The attendance rate denominator is the total number of meetings held during each person's term of service

Yamaha Sustainability Report 2023

Editorial Policy

Information Security and Personal Information Protection

Support system for Outside Directors

Expertise held by the Company’s Directors
Directors

External Recognition

In principle, materials for meetings of the Board of Directors are postedon the database system of the intranet at least three days prior toensure that Outside Directors can share information, and each Outside
Director receives explanations regarding proposals if necessary. Detailsof deliberations at the Managing Council and internal regulations arealso shared through the same database system.
In addition, the secretariat provides Outside Directors withinformation regarding major events at the Company and analyst
reports as needed.

Development of Internal Control System
Based on the Companies Act and Ordinances for the Enforcementof the Companies Act, Yamaha Corporation has put in place systems
to secure the proper conduct of its business activities (hereinafter,
Internal Control Systems). The aims of these systems are conducting
business efficiently, securing the reliability of reporting, securing
strict compliance with laws and regulations, preserving the value ofCompany assets, and strengthening risk management.
The Company has structured the Internal Control Systems for the Group
as a whole, based on the "Group Management Charter," which sets
forth basic Group management policies, and the "Group Internal Control
Regulations," which sets internal control policy for the Group. Regarding
decisions on the status of management and on issues with somedegree of importance which may have an effect on the management
condition of the Group, Subsidiaries are required to receive approval
from the Company in advance and report certain items to the Company.

Information Relating to Conflicts of Interest
When engaging in transactions with Directors, Executive Officers, orclose relatives thereof, necessary systems shall be put in place andmonitored to ensure that they are not detrimental to Yamaha Corporation
or its shareholders' common interests. With the approval of the Boardof Directors pursuant to the Companies Act, the results of related party
transactions shall be reported after a transaction is completed.

88Contents

Yamaha Group Sustainability

Corporate GovernanceRisk Management
Dialogue with Shareholders and Investors

E: Environment

Compliance

Policy and Status Concerning Executive Officer
Remuneration
Remunerations for Directors
Individual amounts and policy regarding the compensation of
Directors and Executive Officers have been determined in theCompensation Committee, which is comprised of three (3) Outside
Directors and one (1) internal Director.
Compensation for Directors (excluding Outside Directors) and
Executive Officers will consist of (i) fixed compensation, (ii)performance-linked bonuses, and (iii) compensation in the form of
restricted stock (restricted stock compensation). The approximate
breakdown of total compensation of (i), (ii), and (iii) will be 5:3:2.
(1) Fixed compensation is monetary compensation according to
job titles and is paid monthly.
(2) Performance-linked bonuses are monetary compensationaccording to job titles that is linked with consolidated profit for theperiod and ROE for the current fiscal year and will be calculated,reflecting the individual's record of performance, in order to motivate
individuals to contribute to enhancement of the Company’s
performance. These bonuses are paid after the completion of
the applicable fiscal year. The individual’s performance will be
evaluated based on indicators of performance set by business andfunction in each area the individual is responsible for.
(3) Restricted stock compensation is share-based compensationaccording to job titles and is provided at the launch of the MediumTerm Management Plan with the intent of motivating the Directors
and Executive Officers to enhance corporate value sustainably andhaving them share a common interest with shareholders. In order tomotivate the Directors and Executive Officers to achieve the Company’s
performance goals in the medium term, one-third (1/3) of restricted stockcompensation is paid under the condition that an individual remains inthe service of the Company for a certain period and two-thirds (2/3) ofrestricted stock compensation is linked to the Company’s performance.
Transfer restrictions shall remain effective until the retirement of
Director or Executive Officer or for thirty (30) years from the receipt

Yamaha Sustainability Report 2023

S: Social

G: GovernanceFair Operating Practices

Participation in Initiatives

Yamaha Group Tax Compliance

External Recognition

Editorial Policy

Information Security and Personal Information Protectionof restricted stock compensation for the purpose of aligning theinterests of the corporate officers with those of the shareholders
over a long period after the end of the Medium- Term Management
Plan. In addition, a claw-back clause is included that will require thereturn of all or a portion of restricted shares transferred to officers onan accumulated basis to date, depending on the responsibility of theofficers in charge, in the event of serious cases of accounting fraud
and/or major losses during the restricted period.
The Company’s performance will be measured using “financial

targets,” “non-financial targets,” and “corporate value targets” asperformance indicators. Financial targets and non-financial targets
are indexed by the management targets set forth in the MediumTerm Management Plan, while corporate value targets are indexedby the total shareholder return (TSR). The ratio of impact oncompensation in the form of restricted stock is planned as follows.
Financial Targets: Non-Financial Targets: Corporate Value Targets= 50%: 30%: 20%.
(4) Outside Directors will receive only the fixed compensation.

Amount of Remuneration and Other Compensation Provided to Yamaha Directors and Executive Officers (Year Ended March 31, 2023)
Compensation by Type (Millions of Yen)

Number of
directors andofficers

Total Compensation(Millions of Yen)

Fixed Remuneratio

Performance-based Compensation in theform of restricted stockbonuses

Director
Outside Directors

88
88

88
88

-

-

6
6

Executive Officers

536

224

157

155

6

Classification* The total compensation and number of Executive Officers concurrently serving as Directors are described in the section for Executive Officers.
* Compensation in the form of restricted stock were granted in a lump sum in the 199th fiscal year ended March 31, 2023, the first year of the Medium-Term
Management Plan “Make Waves 2.0” as compensation for three (3) business years. The amount of compensation granted in a lump sum is calculated on a pro
rata basis over the three (3) years covered by the Medium-Term Management Plan. However, the amount of compensation of the 201st fiscal year ending March
31, 2025 will be adjusted based on the degree of achievement of the Company’s performance.

Remuneration by Director (Year Ended March 31, 2023)
Name

Total
Compensation(Millions of Yen)

Takuya Nakata 194

Director category

Company
category

President and Representative Submitting
Executive Officer
Company

Compensation by Type (Millions of Yen)
Compensation in the
Fixed
PerformanceRemuneration based bonuses form of restricted stock
77

57

58

* Only directors whose total consolidated remuneration is ¥100 million or more are listed.

Accounting Auditor
The Company employs Ernst and Young ShinNihon LLC as its
accounting auditor. Three certified public accountants belonging
to the said audit corporation, conduct the accounting audits of
the Company. The said audit corporation has already introduced avoluntary shift system for designated and engagement partners inorder to ensure that the duration of the engagement does not exceed
a certain fixed period. In addition, another seven (7) certified public
accountants and thity eight (38) assistants help the aforementioned
three certified public accountants conduct the auditing work.

89

Contents

Yamaha Group Sustainability

E: Environment

Corporate GovernanceRisk Management
Dialogue with Shareholders and Investors

Compliance

S: Social

G: GovernanceFair Operating Practices

Participation in Initiatives

Yamaha Group Tax Compliance

Compensation for Accounting Auditor in Fiscal 2022 and 2023
Fiscal 2022

Fiscal 2023

Compensation based on
audit certificate services(Millions of yen)Compensation based on
non-auditing services(Millions of yen)Compensation based on
audit certificate services(Millions of yen)Compensation based on
non-auditing services(Millions of yen)

Filing Company

120

-

125

-

Consolidated affiliates

21

19

21

19

Total

142

19

146

19

Classification

Notes: Other important compensation:
Fiscal 2023: A part of overseas consolidated subsidiaries of Yamaha Corporation paid ¥110 million yen in compensation based on audit certificate services toaccounting firms, etc. that do not belong to the same auditing accounting auditor network as Yamaha Corporation.
Fiscal 2022: A part of overseas consolidated subsidiaries of Yamaha Corporation paid ¥146 million yen in compensation based on audit certificate services toaccounting firms, etc. that do not belong to the same auditing accounting auditor network as Yamaha Corporation.

Reflecting the Opinions of Stakeholders
A System to Reflect the Opinions of Stakeholders inManagement
In addition to the respective dialogue with shareholders andinvestors, Yamaha Corporation gives presentations on its mediumterm management plan and quarterly earnings for securities analysts
and institutional investors, provides business briefings, and conducts
facilities tours and gives presentations to individual investors. The
Company also posts its management plan and the explanatory
materials used in earnings presentations on the Company website.
The results of the dialogue with shareholders and investors arereported to the Board of Directors by the Director, Executive Officers,or Operating Officers responsible on a timely basis, and they will beappropriately reflected in the management of the Company, leading
to the Group's sustainable growth and enhancing enterprise value
over the medium-to-longer term. Additionally, the voting is analyzed
for each resolution at the Ordinary General Shareholders' Meeting,and this is reported to the Board of Directors.
Information Disclosure and IR Activities (Communication with
Shareholders and Investors) >Yamaha Sustainability Report 2023

Corporate Governance Policies/Report
In accordance to the provisions of the Tokyo Stock Exchange
and the Corporate Governance Code, the Company has created apolicy and report which describes our thoughts and systems forcorporate governance.
Corporate Governance Policies (PDF: 359 KB) Revised on June 1, 2023 >Corporate Governance Report (PDF: 680 KB) Revised on June 26, 2023 >Risk Management
Risk Management Initiatives
The Yamaha Group is engaged in efforts to develop and improve
its risk management promotion structure and system in order
to boost risk response capabilities and to achieve healthy
and transparent management. The Group implements risk
management promotion based on the following policies.
1.We shall establish organizations and frameworks for risk
management and work to enhance responsiveness to risk inExternal Recognition

Editorial Policy

Information Security and Personal Information Protection

order to maximize corporate value.
2.In risk management activities under normal circumstances, weshall identify, evaluate, and mitigate risks and conduct awarenessraising activities such as education and training to instill a greaterawareness of and foster a greater sensitivity toward risks.
3.We shall prioritize people’s safety when risks manifest themselves
as crises and coordinate with local communities to ensure sincere,appropriate, and speedy responses to minimize adverse impacts.
In addition, we shall strive to ensure the stable supply of products
and services, continue business to the greatest extent possible,and contribute to the sustainable development of society.
4.After addressing risks, we shall analyze the reasons theyoccurred and how they were addressed in order to ensure they
do not occur again.

Promotion System
Under the supervision of the Board of Directors, Yamaha Corporation
has established the Risk Management Committee as an advisory
body to the president. The committee discusses risk managementrelated matters from a Companywide perspective and reports theresults of these discussions to the president. In addition, the Working
Group for BCP and Disaster Prevention Management, Working Groupfor Financial Management, Working Group for Compliance, Working
Group for Export Control, and Working Group for Information Security
have been established under the Risk Management Committee.
Chaired by an operating officer or managing executive officer, theseworking groups set activity policies and monitor activities related toimportant Companywide themes. The effectiveness and promotion
status of risk management frameworks are verified and monitored
via reports from executive officers to the Board of Directors.
In the case of the materialization of a serious risk with thepotential to have a Companywide impact during the courseof business activities, a Risk Countermeasure HQ led by thepresident will be set up to address the risk.

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Yamaha Group Sustainability

Corporate GovernanceRisk Management
Dialogue with Shareholders and Investors

Risk Management System (As of June 24, 2023)

E: Environment

Compliance

S: Social

G: GovernanceFair Operating Practices

Participation in Initiatives

Yamaha Group Tax Compliance

External Recognition

Editorial Policy

Information Security and Personal Information Protection

Approach Toward Risk Management
The Risk Management Committee categorizes the various risks
identified in relation to the Yamaha Group’s business into four
categories: External Environment Risk, Strategic Risk, Operational
Risk (Business activities), and Operational Risk (Support
activities). The materiality of risks is assessed based on the
projected scale of damages and frequency of materialization. In
addition, the level of control is evaluated for each risk category,material risks requiring priority response are identified, and thedivisions responsible for managing these risks are designated inorder to promote risk mitigation activities and thereby improveoverall risk control levels. The table below provides additional
information on risk categories.
Business Risks (Securities report) >Yamaha Sustainability Report 2023

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Yamaha Group Sustainability

Corporate GovernanceRisk Management
Dialogue with Shareholders and Investors

Business Risk Categories

E: Environment

Compliance

S: Social

G: GovernanceFair Operating Practices

Participation in Initiatives

Yamaha Group Tax Compliance

External Recognition

Editorial Policy

Information Security and Personal Information Protection

Climate Change Countermeasures
In June 2019, the Yamaha Group declared its endorsement of therecommendations of the Task Force on Climate-related Financial
Disclosures (TCFD) and commenced initiatives for analyzing theimpact of climate change on its finances and disclosing related
information. For information regarding disclosure based on therecommendations of the TCFD, please refer to the following link.
Endorsement of TCFD Recommendations >Business Continuity Management

Risk Map

In preparation for large-scale natural disasters, fires, infectious
disease pandemics, and other emergency situations, the YamahaGroup has formulated business continuity plans (BCPs) and
implements other business continuity management efforts. The
Working Group for BCP and Disaster Prevention Management,
which is positioned under the Risk Management Committee
chaired by the president, has been established as an organization
for formulating business continuity policies for responding tonatural disasters and other emergency situations. In addition,
Group policies and rules for responding to natural disasters andother emergency situations have been developed. In the eventof an emergency, an emergency response headquarters will be
set up to examine potential measures for ensuring Groupwide
business continuity.
In addition, the Group BCP Policies & Rules establish basic
policies, duties, and rules to minimize the effect on business whena risk event occurs, such as a natural disaster, through the rapid
implementation of appropriate countermeasures.

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Corporate GovernanceRisk Management
Dialogue with Shareholders and Investors

E: Environment

Compliance

S: Social

G: GovernanceFair Operating Practices

Participation in Initiatives

Yamaha Group Tax Compliance

External Recognition

Editorial Policy

Information Security and Personal Information Protection

Information Security

Major Initiatives
Basic policies and rules

Refined BCP manuals and other provisions and implemented measures for reducing potential damages

BCP formulation andtraining

1.Implemented improvements to the procedures for enacting swift business continuity measures in times of
emergency in the emergency response headquarters that are responsible for Groupwide emergency response
measures2.Conducted general and local emergency response headquarters drills tailored to teleworking
3.Revised, evaluated, and improved the risk-specific BCPs established for all global Group companies with afocus on business continuity

Infrastructuredevelopment

1.Established facility-specific security standards and commenced measures for reinforcing security provisions
2.Formulated the Yamaha Equipment Earthquake Resistance Standards and applied standards to newequipment at the time of introduction
3.Introduced an employee safety check system and performed regular drills to ensure effectiveness in times of
emergency
4.Implemented disaster countermeasures targeting critical facilities

Disaster damage
reduction measures

1.Reviewed water flooding risks at Group operating bases in light of increasing severity of heavy rains andother natural disasters
2.Revised disaster response plans, measures, and insurance policies to address identified risks

Financial Management
The Yamaha Group is globally promoting internal control activities
centered around financial management, such as the Groupwide
standardization of operational processes. The Working Groupfor Financial Management is responsible for confirming that
operations across the entire Group follow the Group Internal
Control Policies & Rules and other regulations.

Compliance
The Working Group for Compliance, an organization positioned
under the Risk Management Committee, which is an advisory
body to the president, is a central organization in the promotionof compliance. This working group both promotes compliancein the Group and monitors the business execution of divisionsand Group companies to ensure legal compliance and ethicaloperations. It also executes measures to maintain healthy

Yamaha Sustainability Report 2023

business activities through employee education, awarenessraising, questionnaires, and the establishment of whistleblowing
and consultation helplines.
Compliance >Export Control
The Yamaha Group has established provisions for trade security
control in its Compliance Code of Conduct as compliancemeasures pertaining to international trading.
The Working Group for Export Control has been establishedand export control regulations and import and export procedure
regulations have been formulated as part of efforts to develop a
process for managing exports.
8-3 National Security-Related Trade Control >The leakage of personal information and other important
information held by a company has the potential to not only
damage third parties but also become a case of gross negligencethat can harm the company’s reputation.
The Yamaha Group perceives information security as a criticalaspect of risk management. The Working Group for Information
Security, an organization that is positioned under the Risk
Management Committee, which is an advisory body to the president,
has put together a policy on information management and is working
to enhance the quality of this management by keeping track of thecurrent management system while identifying vulnerabilities andguiding efforts to address them. The Group conducts training basedon the Group IT Policies & Rules, which define basic IT management
policies, and the Group Personal Information Protection Policies &Rules, which contain provisions related to the protection of personal
information, to ensure employees understand the importanceof preventing inadvertent data leaks while taking precautions toprotect against hacking by third parties.
9-8 Utilization and Management of the Company’s Information
Systems >Information Security and Personal Information Protection >Occupational Health and Safety and Environmental
Risk Management
In order to prevent occupational accidents and environmental
pollution, the Yamaha Group performs risk assessments atfactories and other business sites. In addition, regular monitoring,audits, emergency response training, and other activities arecarried out under the guidance of dedicated occupational healthand safety and environmental preservation staff members.
Employee Health and Safety >Prevention of Pollution and Chemical Substance Management >93

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E: Environment

Compliance

Compliance
Compliance Promotion System and Compliance
Code of Conduct
The Yamaha Group has positioned compliance among its
most important management themes. We practice compliancemanagement with a focus on ensuring strong legal compliance,
adherence to social norms, and a high level of corporate ethics.
The Compliance Code of Conduct puts forth a code for guiding
the actions of all members of the Yamaha Group as the foundation
for compliance management. Since the establishment of the code
in 2003, ongoing revisions have been implemented in reflection ofchanges in environmental and social conditions, and the code has
been translated into multiple languages.

S: Social

G: GovernanceFair Operating Practices

Participation in Initiatives

Yamaha Group Tax Compliance

Committee, which is an advisory body to the president, is a central
organization in the promotion of compliance. This working group
discusses and decides on Groupwide compliance-related policies
and measures. In addition, the working group is responsible formonitoring the activities of divisions and Group companies toensure legal compliance and ethical operations.
Other measures for ensuring good compliance include internal
education and training programs, employee questionnaires,and the development of compliance helplines, which are madeavailable to full-time, dispatch, and other employees.
Fair Operating Practices >Compliance Code of Conduct >Education and Awareness-Raising Regarding
Compliance Code of Conduct
The Yamaha Group publishes booklets that describe in detail theCompliance Code of Conduct in order to promote education andraise awareness regarding the code. In Japan, physical booklets are
distributed and electronic booklets are made available via the Company
intranet to allow all full-time and dispatch employees (including parttime employees with employment contracts) to review the content ofthese booklets at any time. These booklets are also used as tools forcompliance training and for workplace training and education activities.
Overseas Group companies utilize booklets prepared in the respective
language based on the booklets available in Japanese.

Compliance Management Frameworks andPromotion System
The Working Group for Compliance, an organization that is chairedby an operating officer and positioned within the Risk Management
Yamaha Sustainability Report 2023

External Recognition

Editorial Policy

Information Security and Personal Information Protection

Details• Confirmation of Groupwide compliance promotion status• Response to revision of Whistleblower Protection Act andformulation of Group Whistleblowing Specialized Rules• Training on prevention of harassment provided to Group managers• Enhancement and improvement of effectiveness of compliancehelplines

Monitoring
The Working Group for Compliance conducts regular monitoringof the status of compliance systems and compliance promotion
at Company divisions and Group companies to ensure that thebusiness activities of the Yamaha Group are ethical and legallycompliant. Overseas, the frequency of monitoring activities,
previously conducted once a year, has been raised to allow for timely
tracking of the status of compliance through monitoring conducted
once every three months. In addition, compliance questionnaires
are administered to employees once every three years. Compliancehelplines have been set up at all overseas Group companies, andsteps are taken to maintain a comprehensive understanding of thelevel of awareness regarding the Compliance Code of Conduct andthese helplines. In Japan, we measure the awareness of domestic
Group employees from the perspectives of compliance risks
and corporate culture. Moreover, organization-level analyses are
performed. The results of these analyses are reflected in measures
to address issues and reform our corporate culture.
Overview of Compliance System and Progress Monitoring Activities

Compliance Promotion System

Working Group for Compliance Activities
Major Activities
Four meetings in fiscal 2023

Scope

Yamaha Corporation divisions and 47 Group
companies

Details

Reviews of compliance promotion systems,
compliance helplines, and report numbers

Confirmation of promotion system once per year,
Frequency confirmation of number of compliance helpline reports
at overseas Group companies once every three months
Note: Figures are for the questionnaire conducted in April 2022.

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Overview of Employee Questionnaires

Scope

Approximately 8,500 full-time, seconded, anddispatch employees (including contract and parttime employees with employment contracts) ofdomestic Group companies
Approximately 20,000 full-time and seconded
employees (including factory workers) of 34
overseas Group companies

Details

Questions for tracking employee awarenessregarding compliance, the Compliance Code of
Conduct, and compliance helplines

Frequency Once every three years
Note: Figures are for the questionnaire conducted in Japan in October 2021
and the questionnaire conducted overseas in January 2023.

Training and Education
The Yamaha Group provides employees compliance training
and education through the intranet and through various training
programs.
For domestic Yamaha Group employees, we distribute accessible,easy-to-understand online compliance educational content for
employees via the intranet on a monthly basis. For example,
employees are given access to Compliance News, which explainsconcepts in four-panel comic strips; Compliance Quizzes; andCompliance Mini-Tests. In addition, we began providing comics
detailing how to use compliance helplines in fiscal 2023 with thegoal of promoting understanding of the helplines and alleviating
any concerns employees may have regarding their usage.
These and other content allow users to efficiently learn aboutcompliance in a short amount of time.

S: Social

G: GovernanceFair Operating Practices

Participation in Initiatives

Yamaha Group Tax Compliancesessions for the employees of domestic Group companies on
subjects such as compliance topics and means of improving
communication with supervisors to foster a more open corporate
culture. One important compliance concern is preventing
harassment. Focused on this subject, an online seminar on
preventing abuses of power was arranged for all managers ofdomestic Group companies in fiscal 2023. This seminar looked
at harassment mechanisms, case studies, anger management,
unconscious bias, and various other topics directly related
to management. Post-seminar questionnaires pointed to theimprovements to understanding and awareness gained during
the seminar through comments on the contents of the program
and requests for future iterations. In addition, a training session
for employees involved in investigating reports received throughcompliance helplines was arranged in December 2022 based on
the revision to the Whistleblower Protection Act instituted in Juneof that year. Domestic Group companies also implemented theirown compliance training and education programs.

External Recognition

Editorial Policy

Information Security and Personal Information Protection© 2022 Diamond Consulting Office LLC. All Rights Reserved.
Online seminar on preventing abuses of power for managers led by Yuko
Zantou of Diamond Consulting Office LLC

Fiscal 2023 Compliance Training Programs
Number ofsessions

Number ofparticipants

Rank-based training 10335

Onboarding training
11
for mid-career hires

44

Other training
programs

3

229

Total

24

608

Respect for Employees’ Human Rights >Compliance training for new managers

Training programs include online programs or small group

Yamaha Sustainability Report 2023

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E: Environment

Compliance

Compliance Helplines
The Yamaha Group has established compliance helplines foraddressing compliance-related consultations and reports.
These helplines can be used to receive support via the internet,
telephone, fax, email, or standard mail. Objective investigations
are conducted to confirm the validity of any reports or
consultations indicating potential compliance violations, andresponse and disciplinary measures are decided based on thefindings of these investigations.

S: Social

G: GovernanceFair Operating Practices

Participation in Initiatives

Yamaha Group Tax Complianceformulated while manuals were prepared and briefings were held
for compliance representatives at Group companies to promote
helpline usage and expedite responses to reports.
Compliance Helpline System

Yamaha Sustainability Report 2023

Editorial Policy

Information Security and Personal Information Protection

Whistleblower Protection Act instituted in June 2022, thereby
clarifying the internal rules in relation to reports and responses
thereof. In this manner, the Company has prepared a legallycompliant process for responding to consultations and reports
received through helplines that includes confirming the validity of
the claims, determining whether legal violations took place, andtaking any necessary corrective measures.
In fiscal 2023, no reports were received on incidents that
constituted serious compliance violations with the potential toresult in the Company being subject to massive fines or nonmonetary sanctions for violating social or economic laws.

In Japan, three helplines are available: the Yamaha Compliance
Hotline, an external consultation venue for domestic Group
companies operated by a subcontractor; an internal consultation
venue; and a venue for consultation with an external legal
firm. In addition, cards detailing the contact information forthese helplines are distributed to employees. We also promoteawareness and use of these venues during training sessions.
These helplines are available to officers, full-time employees,
dispatch employees, and part-time staff. The provisions contained
in internal rules for protecting earnest individuals submitting
reports through helplines from disadvantageous treatment
have been strengthened in response to the revision to theWhistleblower Protection Act instituted in June 2022. In addition,
training sessions have been held for employees involved ininvestigating reports to ensure their compliance with the relevantlaws and regulations.
Overseas, helplines have been set up at 34 overseas Group
companies, and Yamaha Corporation also provides a shared global
helpline offering support via the internet that is available in 16
languages. In 2022, external helplines were established at almost
all overseas Group companies and steps were taken to expand
the range of options available for reporting to accommodate theneeds of individuals submitting a report. Moreover, Groupwide
policies and rules pertaining to handling of whistleblowers were

External Recognition

Number of Reports Received through Compliance Helplines
Name provided

Anonymous

Total

FY201925

934

FY202054

1266

FY202150

33

83

FY202244

43

87

FY2023

57

57

114

Harassment and other work-related matters represented the
majority of consultations and reports received as of March 31,
2023. Policies and rules pertaining to handling of whistleblowers
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Dialogue with Shareholders and Investors

Fiscal 2022: 87 reports

E: Environment

Compliance

S: Social

G: GovernanceFair Operating Practices

Participation in Initiatives

Yamaha Group Tax ComplianceFair Operating Practices
Stance on Fair Operating Practices
The Yamaha Group takes great efforts to maintain fair operating practices
by complying with laws, regulations, and social norms to contributeto the healthy development of the market economy society. Based on
the Compliance Code of Conduct, the Group endeavors to build andmaintain fair relationships by eliminating questionable relationships
with suppliers or other related parties, to practice fair competition bybanning the use of unfair comparative advertisements, comply with theAnti-Monopoly Act, and otherwise engage in responsible managementof its business. Furthermore, the Group is educating its employees toensure that all of its members comply with these standards.

Fiscal 2023: 114 reports

Compliance >Prevention of Corruption
The Yamaha Group is well aware of the fact that corruption impedes
healthy economic activity and is detrimental to the sustainability ofsociety. Accordingly, the Group has endorsed the United Nations(UN) Global Compact, which sets out principles pertaining to anticorruption. The Group also stipulates in its Compliance Codeof Conduct that it rejects improper relationships with business
partners, governments, local municipalities, and public institutions
and that it will engage only in fair dealings. Anti-corruption
measures are implemented based on this code of conduct.
Participation in Initiatives >Compliance Code of Conduct >5-4 Elimination of Improper Relationships (Gift Giving, BusinessEntertainment, etc.) >7-1 Transactions with Government and Public Officials >7-2 Prohibition Against Gift Giving to and Entertainment ofGovernment Officials, etc. >8-5 Prohibition Against Bribery to Foreign Government Officials >Yamaha Sustainability Report 2023

External Recognition

Editorial Policy

Information Security and Personal Information Protection

Extensive Anti-Corruption Frameworks and Measures
The Yamaha Group formulates rules with regard to the complianceprogram to be implemented by Group companies to promotecompliance and prevent corruption. Based on these rules, Group
companies worldwide implement exhaustive anti-corruption measures
including having members of senior management voice theircommitment to compliance to employees, arranging training andeducation programs, and setting up processes for identifying andpreemptively addressing activities with the potential to violate laws.
The Legal Division of Yamaha Corporation is responsible for ensuringthat all Group companies around the world are always aware of thecorruption risks present in their business activities and for monitoring
the status of initiatives within the Group. In addition to combating
misconduct in its own activities, the Group is also committed toaddressing bribery risks in the activities of business partners. To thisend, some Group companies take steps such as requiring business
partners, through contracts and other stipulations, to prohibit
bribery and receiving pledges on this matter from business partners.
Furthermore, the Yamaha Supplier CSR Code of Conduct stipulates
the prohibition of corruption involving suppliers.

Corruption-Related Incidents
In fiscal 2023, no legal violations or government sanctions wereincurred as a result of acts of corruption.
Compliance Helplines >Responsible Participation in Politics
With respect to involvement in politics and government policy,
the Yamaha Group aims to demonstrate good faith in promoting
the formulation and implementation of government policies that
benefit society as a whole.
Guided by this philosophy, we maintain appropriate relationships
with governments and politicians in accordance with prescriptions

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Complianceconcerning relationships with such in our Compliance Code of Conduct.
7-1 Transactions with Government and Public Officials >7-2 Prohibition Against Gift Giving to and Entertainment ofGovernment Officials, etc. >7-3 Political Contributions >7-4 Response to Government Authorities >Political Contributions
The Yamaha Group takes a neutral stance toward political parties
and politicians, and complies with the Public Offices Election Act,
the Political Funds Control Act, and other laws and ordinances
related to politics. The Group prohibits contributions to individual
politicians, which is prohibited by law, and to political organizations
or parties in excess of the permissible amount under the law. Underauthoritative regulations for political contributions of \500,000 or
more, it is mandatory for Yamaha Corporation to obtain the approvalof the president, consult with the General Administration Division,
the Corporate Finance Division, and the Legal Division, and confirm
the contribution with the senior general manager of the Internal
Auditing Division. Group companies are also required to conform to
the restrictions of the political fund control laws of the respective
countries when making political contributions or payments of any kindto politically related persons or persons belonging to public institutions
while also observing the same regulations as Yamaha Corporation.
Furthermore, the senior general manager of the Internal Auditing
Division carries out an audit of political contributions every Apriland determines whether or not these rules are being appropriately
observed throughout the Group.
7-3 Political Contributions >Fair Trade Practices
The Yamaha Group does not engage in any unfair trading
practices or unjust practices designed to restrict competition

Yamaha Sustainability Report 2023

S: Social

G: GovernanceFair Operating Practices

Participation in Initiatives

Yamaha Group Tax Complianceand makes every effort to ensure fair competition, the bedrock ofhealthy development in a market economy. Moreover, the YamahaGroup familiarizes all Group employees with rules regarding themaintenance of fair relationships with business partners and rules
governing corporate practices concerning market competition aslaid out in the Compliance Code of Conduct.
5. Relationship with Business Partners >6. Relationship with Competitors >Compliance with Competition Laws
As part of its efforts to ensure fair competition, the YamahaGroup has formulated rules regarding the compliance programs
to be implemented at Group companies for the purpose of
ensuring compliance with competition laws. Based on theserules, competition law training is held at domestic and overseas
Group companies emphasizing the prevention of cartel activities,
bid rigging, price fixing, and other illegal activities. In addition,members of senior management voice their commitment tocompliance with competition laws to employees worldwide.
In fiscal 2023, competition law training was conducted at
10 domestic Group companies (Yamaha Corporation, sales
companies, and operating companies) and at 22 overseas Group
companies (sales companies and operating companies). In Japan,
2,219 individuals underwent such training while 2,436 individuals
received training overseas.
Compliance with the Subcontractors Act
At Yamaha Corporation and its domestic subsidiaries, transactions
with subcontractors are tracked through the Group’s accounting
system, and frameworks are in place to prevent payment delays.
Furthermore, through internal notifications and meetings with
Procurement Department employees, we inform internal departmentsof notifications from the government regarding the Act against Delayin Payment of Subcontract Proceeds, Etc. to Subcontractors (theExternal Recognition

Editorial Policy

Information Security and Personal Information Protection"Subcontractors Act") and of related standards as part of measures
to stay abreast of and familiarize employees with legal requirements.

Fair Competition Violations
In fiscal 2023, no legal sanctions were imposed by the relevant
authorities in response to violations of fair trade, anti-trust laws,
or anti-monopoly laws. In Japan, the Group cooperates withwritten inquiries from the Fair Trade Commission and the Smalland Medium Enterprise Agency and has not received any orders
or warnings due to violations of laws and ordinances.

Yamaha Group Tax Compliance
The Corporate Philosophy of the Yamaha Group is, "With ourunique expertise and sensibilities, gained from our devotion tosound and music, we are committed to creating excitement andcultural inspiration together with people around the world." We
are working to secure a high level of profitability based on global
competitiveness and increased management efficiency, and weare also striving to fulfill our social responsibilities. With these
efforts, we are working to realize sustainable growth and to
improve corporate value over the medium to long term.

Basic policy
The Yamaha Group strives to improve not only the company’s values
but also boost economic and social development all over the world.
To achieve our goals, we observe OECD guidelines on transfer
pricing or BEPS (Base Erosion and Profit Shifting) initiatives. We also
pay appropriate taxes in accordance with the tax-related laws andregulations stipulated in each state and region where we operate.

Tax governance
The Yamaha Group endeavors to establish, maintain and strengthen
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E: Environment

Compliancefrom international taxations, we have positioned the tax strategy as
an essential business initiative. The Risk Management Committee
as advisory panel for the top management discusses how tocarry out continuous risk management and regularly supervises
the control activities from the corporate stand point. Under themonitor of the Risk Management Committee, the Corporate
Finance Division is engaged in tax governance and control.

Structure of tax management
Under the direction from the Executive Officer in charge of group
taxation, the Corporate Finance Division of Yamaha Corporation
has established Group Tax Policies & Rules in order to make thebasic policies and tax related rules fully understood by all groupmembers. The division keeps each employee of the Yamaha Group
companies informed about all procedures and their implementation.
The managements of the Yamaha Group companies endeavor
to establish and maintain internal control regarding tax inaccordance with the Yamaha Group Tax Policies & Rules.

Monitoring to reduce risks related to tax
Under the organization described above, the Corporate Finance
Division of Yamaha Corporation monitors group companies’
tax treatments, rectifies when required and supports theiroperations. The division is also engaged in reducing tax relatedrisks by receiving advice from outside professionals or confirming
information with tax authorities beforehand.

Tax planning
The Yamaha Group uses tax incentives in various countries
where they are available for use in normal business activities,
follows social ethics and strives to take on proper tax burdens.
In addition, the Yamaha Group does not engage in intentional
tax planning that is against the legislative spirit of domestic andinternational laws such as the utilization of Tax Havens.

Yamaha Sustainability Report 2023

S: Social

G: GovernanceFair Operating Practices

Participation in Initiatives

Yamaha Group Tax ComplianceTransfer pricing
The Yamaha Group strives to realize fair income allocation inaccordance with the functions and risks of each Group company
and to prevent the improper transfer of income.
The Yamaha Group maintains arm’s length price through regularmonitoring of the profits and losses of Group companies. In
addition, the Yamaha Group strives for the implementation ofAdvanced Pricing Agreement (APA) with tax authorities to avoid
the risk of retroactive transfer pricing taxation.

Relationships with tax authorities
The Yamaha Group works to minimize tax risks by maintaining
faithful relationships with the tax authorities of the regions where
it conducts business. We also confirm essential matters with themin advance to mitigate any predicted risks.

Securement of transparency
The Yamaha Group discloses information on its tax in accordance withthe related laws and regulations, disclosure standards and accounting
standards of each country. In addition, the Yamaha Group will makeevery effort to give understandable explanations to the tax authoritiesof the areas where it conducts business and will ensure transparency.

Information Security and Personal
Information Protection
Information Security and Personal Information
Protection Initiatives
The Yamaha Group is committed to appropriately managing andprotecting all of the information assets in its possession or withwhich it is entrusted. To this end, strict compliance is practiced
with regard to relevant information security personal informationrelated regulations; the Group IT Policies & Rules, which delineate

External Recognition

Editorial Policy

Information Security and Personal Information Protection

basic policies and rules pertaining to IT management at the
Yamaha Group; the Privacy Policy; and the Group Personal Data
Protection Policies & Rules. The advancement of information andcommunications technology is increasing the risk of information
leakage and damage. Nevertheless, the Group is committed
to combating potential risks and ensuring the utmost levels of
information security and personal information protection.
Privacy Policy >Promotion System
The Yamaha Group perceives information security and personal
information protection as a critical aspect of risk management andhas established the Working Group for Information Security, which
is chaired by an operating officer, under the Risk Management
Committee, an advisory body to the president. In accordancewith the Group IT Policies & Rules and the Group Personal
Data Protection Policies & Rules, the status of compliance withinformation asset and personal information protection regulations
is monitored, reports on incidents are compiled, and potential
work improvement measures are examined. In addition, the Groupappoints individuals responsible for supervising information security
and the handling of personal information on a Groupwide basis,
and individuals responsible for managing these tasks are named
on a by-division basis. The Group has also established a system torespond quickly during incidents such as information leaks.

Training and Education
The Group IT Policies & Rules call for the provision of safe andsecure IT platforms and stipulate that users of said platforms
should be educated to ensure the safe and efficient use of IT.
We are strengthening efforts to enhance and round out awarenessof employees through training and education for, and audits of,divisions handling information assets and personal information.

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Compliance

We also provide information security training for standard
employees that covers topics such as information asset protection
and information leak prevention.
In 2020, we launched an information security e-learning program,which is now provided to all Yamaha Group employees worldwide.
This program is regularly implemented to provide knowledge on
information security threats, most notably email scams and virus
attacks, and information on response methods toward thesethreats.
In February 2023, a response drill simulating an attack via targetedemails was held for approximately 8,000 officers and employees
at domestic Yamaha Group companies. Targeted emails are a formof cyberattack in which a specific organization is targeted withemails designed to extract confidential information, intellectual
properties, or account or other information. In the drill, simulated
targeted emails were sent to employees without prior warning.
Afterward, the opportunity was used to reflect on how eachindividual responded and to learn about the proper methods forresponding to suspicious emails or emails from unknown senders.
In addition, follow-up e-learning programs on the protection of
personal information were arranged for individuals involved in thehandling of such information in order to entrench management
and usage practices that are compliant with the revision to the Act
on the Protection of Personal Information instituted in April 2022.

Approach Toward Information Security andPersonal Information Protection
Personal Information Customer Service Organization
and Responses
Based on the relevant laws and regulations, the Yamaha Group
has set up a service organization regarding the personal

Yamaha Sustainability Report 2023

S: Social

G: GovernanceFair Operating Practices

Participation in Initiatives

Yamaha Group Tax Complianceinformation collected from its customers. The Group will respondto requests from customers or their proxies to disclose, change,
delete, or stop usage of customer personal data held by theGroup.
Procedures for Responding to Requests to Disclose or Correct
Personal Information (in Japanese only) >Customer Information Management Initiatives
The Yamaha Group manages personal information on a practicallevel out of consideration of information security based on theGroup IT Management Standards, which detail policies regarding
IT management of personal information. Personal information isstored in a system with an auto-encryption feature. In the unlikely
case of an information leak, the system is structured so that only
authorized personnel can view or use the personal information
for an added degree of security. There were no major incidents
concerning the management of personal information in fiscal
2023.

Dialogue with Shareholders and Investors
Policies Regarding Dialogue with Shareholders
and Other Investors
The Yamaha Group conducts appropriate disclosure andconstructive dialogue with shareholders, investors, and otherstakeholders in accordance with the following policies andcodes of conduct. The input gathered through these activities isreported to the Board of Directors as appropriate to reflect this
input into business activities in order to drive ongoing growth andmedium- to long-term improvements in corporate value.
Dialogue with Shareholders and Investors (Chapter V of the
Corporate Governance Policies)
2-1 Accurate Accounting Records and Financial Reports >External Recognition

Editorial Policy

Information Security and Personal Information Protection

2-2 Timely Disclosure of Information >IR Activities
The Yamaha Group strives to disclose information in a fair andtimely manner for the benefit of institutional and private investors
around the world. Rules for disclosure are set forth in the
Disclosure Policy, which is available on the Company’s corporatewebsite.
Disclosure Policy >Website for Investors
The investor relations (IR) section of Yamaha’s corporatewebsite (available in English and Japanese) provides up-todate information on our business, including business strategies,
information on medium-term management plans, earnings reports,financial data, and annual reports, along with newsletters. In
fiscal 2023, the IR section of our website received a number ofhonors, namely a 2022 Internet IR Commendation Award (Daiwa
Investor Relations Co. Ltd.), recognition as a AAA website in
the overall category of the 2022 homepage ranking of all listedcompanies (Nikko Investor Relations Co., Ltd.), and a silver award
in the ranking of companies with superior IR websites (Gomez).
These honors reflected the evaluation of the website’s extensive
selection of corporate and management information.
Investor Relations >Major IR Activities
Yamaha is bolstering engagement with shareholders and otherinvestors in both Japan and overseas through various activities
such as quarterly results briefings and other regular events aswell as business briefings for securities analysts and institutional
investors, factory and facility tours, and explanatory meetings forprivate investors, which are held as needed. We have also been
increasingly utilizing online communication tools for IR activities

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Yamaha Group Sustainability

E: Environment

Corporate GovernanceRisk Management
Dialogue with Shareholders and Investors

Compliancein recent years. The opinions and information gathered throughengagement with shareholders and other investors are sharedinternally among the related departments, and these findings arereflected in our IR activities and in the execution of management.
Major Activities
Targetaudience

Frequency

Times held in
fiscal 2023

Quarterly

4

Business
briefings

Same as above Irregularly

1

Factory andfacility tours

Same as above Irregularly

Individual
meetings

Same as above

Approx. 200
times a year

Overseas
investor visits

Overseas
institutional
investors

Three times ayear (United0
States, Europe,and Asia)

Medium-term
managementplan
briefings

Securities
analysts
Institutional
investors

As needed

Company
briefings
for private
investors

Privateinvestors

Irregularly (inJapan)

Securities
Financial results analysts
briefings
Institutional
investor

Online company briefing forprivate investors

Yamaha Sustainability Report 2023

S: Social

G: GovernanceFair Operating Practices

Participation in Initiatives

Yamaha Group Tax Compliance

250

1

2

Medium-term management
plan briefing

Editorial Policy

Information Security and Personal Information Protection

ESG Investment Initiatives
Yamaha Corporation has been included in domestic and overseas
environmental, social, and governance (ESG) indices*1 and ESG
funds based on the consideration it exercises for the environment
and for society.
For more details, please refer to the following website.
External Recognition >0

External Recognition*1 ESG indexes compile companies evaluated as exhibiting excellence interms of both profitability and sustainability and track the movements of
their stock prices.
FTSE Russell (the trading name of FTSE International
Limited and Frank Russell Company) confirms that
Yamaha Corporation has been independently assessed
according to the FTSE4Good criteria, and has satisfied
the requirements to become a constituent of the
FTSE4Good Index Series. Created by the global index
provider FTSE Russell, the FTSE4Good Index Series is designed to measure
the performance of companies demonstrating strong Environmental,
Social and Governance (ESG) practices. The FTSE4Good indices are usedby a wide variety of market participants to create and assess responsible
investment funds and other products.

THE INCLUSION OF YAMAHA CORPORATION IN ANY MSCIINDEX, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICEMARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE ASPONSORSHIP, ENDORSEMENT OR PROMOTION OF YAMAHACORPORATION BY MSCI OR ANY OF ITS AFFILIATES. THE MSCIINDEXES ARE THE EXCLUSIVE PROPERTY OF MSCI. MSCI AND
THE MSCI INDEX NAMES AND LOGOS ARE TRADEMARKS ORSERVICE MARKS OF MSCI OR ITS AFFILIATES.
Credit Ratings (As of March 31, 2023)
Rating and Investment Information, Inc. A+
Japan Credit Rating Agency, Ltd.

AA-

Shareholder Returns and Retained Earnings
The Company’s shareholder returns and retained earnings
policies are explained in the following link.
Shareholder Returns >FTSE Russell confirms that Yamaha Corporation has
been independently assessed according to the index
criteria, and has satisfied the requirements to become aconstituent of the FTSE Blossom Japan Index. Createdby the global index and data provider FTSE Russell,
the FTSE Blossom Japan Index is designed to measure
the performance of companies demonstrating strong
Environmental, Social and Governance (ESG) practices. The FTSE Blossom
Japan Index is used by a wide variety of market participants to create andassess responsible investment funds and other products.
FTSE Russell confirms that Yamaha Corporation has
been independently assessed according to the index
criteria, and has satisfied the requirements to become aconstituent of the FTSE Blossom Japan Sector RelativeIndex. The FTSE Blossom Japan Sector Relative Index isused by a wide variety of market participants to create andassess responsible investment funds and other products.

Shareholder Benefits
Yamaha Corporation has introduced special incentive programsfor shareholders to express its appreciation for their daily support
and to foster greater understanding and support for Yamaha’sbusiness. Shareholder benefit programs are available only toresidents of Japan.
Shareholder Benefits (in Japanese only) >101

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Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Participation in Initiatives
With a commitment to cooperating and forming ties with global
society as we work toward building a sustainable society, theYamaha Group participates in various industry organizations andinitiatives with ideals that align with those of the Group. We takepart in a wide range of activities through our participation in these
initiatives with the goal of contributing to the resolution of social
issues related to human rights, labor conditions, anti-corruption,
climate change, biodiversity, and other areas. Moreover, weare contributing to the accomplishment of the United Nations
Sustainable Development Goals (SDGs), a set of shared goals
embraced by the global community, through our business.

Women’s Empowerment Principles >30% Club Japan >Unstereotype Alliance >CSR Committee of Japan Electronics and Information Technology
Industries Association >Japan Center for Engagement and Remedy on Business andHuman Rights >SoundUD™ Consortium >International Association for Universal Design >Shizuoka Mirai no Mori Supporter >The 10 Principles of the UN Global Compact
Human
RightsPrinciple 2: make sure that they are notcomplicit in human rights abuses.
Labour

UN Global Compact
The United Nations (UN) Global Compact was proposed by
the Secretary General of the UN in 1999 and consists of 10
universally accepted principles for voluntary action in theareas of human rights, labour, theenvironment, and anti-corruption.
Since signing the Global Compact inJune 2011, Yamaha has been shaping
its business activities based on
the compact’s 10 principles while
actively participating in working
subcommittees as a member of
Global Compact Network Japan.
Initiatives in Which the Yamaha Group is a Signatory or
MemberUnited Nations Global Compact >Global Compact Network Japan >Task Force on Climate-related Financial Disclosures >Science Based Targets initiative >Japan Climate Initiative >GX League >CDP Supply Chain Program >Taskforce on Nature-related Financial Disclosures Forum >Yamaha Sustainability Report 2023

Note: Fiscal 2023 subcommittee participation: Supply Chain, Environmental
Management, Kansai, Human Rights Due Diligence, Human Rights
Education, Anti-Corruption, Disaster Prevention/Mitigation, ESG, SDGs,
Women’s Empowerment Principles, Reporting Research, and Circular
Economies

Principle 1: Businesses should support andrespect the protection of internationallyproclaimed human rights; andPrinciple 3: Businesses should uphold thefreedom of association and the effective
recognition of the right to collective bargaining;
Principle 4: the elimination of all forms of forced
and compulsory labour;
Principle 5: the effective abolition of childlabour; andPrinciple 6: the elimination of discrimination in
respect of employment and occupation.

Environment

Principle 7: Businesses should support aprecautionary approach to environmental
challenges;
Principle 8: undertake initiatives to promote
greater environmental responsibility; andPrinciple 9: encourage the development
and diffusion of environmentally friendly
technologies.

AntiCorruption

Principle 10: Businesses should work against
corruption in all its forms, including extortionand bribery.

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Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

External Recognition
ESG Ratings and Inclusion in Indexes
The Yamaha Group is working to understand the impact of its
business activities on the environment and society and to pursue
dialogue with stakeholders while addressing social issues to help
create a sustainable society. These efforts have won recognition
from external institutions, leading Yamaha Group companies to be
included in various domestic and overseas environmental, social,and governance (ESG) indexes and funds. In addition, YamahaGroup companies are included in all five of the ESG indexes(indicated with * below) utilized by the Government Pension
Investment Fund (GPIF).

FTSE4Good Global Index
Yamaha Corporation has been included in the FTSE4Good Global
Index, an index compiled by FTSE Russell, a firm owned by the
London Stock Exchange, that evaluates companies based on ESG
perspectives.
FTSE Russell (the trading name of FTSE International Limited andFrank Russell Company) confirms that Yamaha Corporation has been
independently assessed according to the FTSE4Good criteria, and has
satisfied the requirements to become a constituent of the FTSE4Good
Index Series. Created by the global index provider FTSE Russell, theFTSE4Good Index Series is designed to measure the performance ofcompanies demonstrating strong Environmental, Social and Governance(ESG) practices. The FTSE4Good indices are used by a wide variety ofmarket participants to create and assess responsible investment funds
and other products.

FTSE Blossom Japan Index*
Yamaha Corporation has been included in the FTSE Blossom
Japan Index, an index compiled by FTSE Russell of the United
Kingdom comprised of Japanese companies that excel based on
ESG perspectives.
FTSE Russell confirms that Yamaha Corporation has been
independently assessed according to the index criteria, andhas satisfied the requirements to become a constituent of
the FTSE Blossom Japan Index. Created by the global index
and data provider FTSE Russell, the FTSE Blossom Japan
Index is designed to measure the performance of companies
demonstrating strong Environmental, Social and Governance(ESG) practices. The FTSE Blossom Japan Index is used by a wide
variety of market participants to create and assess responsible
investment funds and other products.

MSCI ESG Ratings
Yamaha Corporation received a rating of AA (on a scale of CCC toAAA) in the MSCI ESG Ratings assessment, which analyzes companies
based on their ESG initiatives and risk management capabilities.
THE USE BY YAMAHA CORPORATION OF ANY MSCIESG RESEARCH LLC OR ITS AFFILIATES ("MSCI“)
DATA, AND THE USE OF MSCI LOGOS, TRADEMARKS,SERVICE MARKS OR INDEX NAMES HEREIN, DO
NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT,RECOMMENDATION, OR PROMOTION OF YAMAHACORPORATION BY MSCI. MSCI SERVICES AND DATAARE THE PROPERTY OF MSCI OR ITS INFORMATIONPROVIDERS, AND ARE PROVIDED ‘AS-IS’ AND
WITHOUT WARRANTY. MSCI NAMES AND LOGOS ARE
TRADEMARKS OR SERVICE MARKS OF MSCI.

MSCI ESG Leaders Indexes
FTSE Blossom Japan Sector Relative Index*
Yamaha Corporation has been included in the FTSE Blossom
Japan Sector Relative Index. This comprehensive ESG index
selectively incorporates best-in-class Japanese companies
through a screening process employing the ESG assessmentsof FTSE Russell along with the assessments of the size ofcompanies’ environmental impact as well as their managementof climate change risks. A total of 494 companies with high ESG
scores were selected for the 2022 index.
FTSE Russell confirms that Yamaha Corporation has been
independently assessed according to the index criteria, andhas satisfied the requirements to become a constituent of the
FTSE Blossom Japan Sector Relative Index. The FTSE Blossom
Japan Sector Relative Index is used by a wide variety of market
participants to create and assess responsible investment funds
and other products.

Yamaha Corporation has been included in the MSCI ESG Leaders
Indexes, a series of ESG indexes developed by MSCI Inc. of theUnited States. These indexes are comprised of companies thatexcel based on ESG perspectives.

MSCI Japan ESG Select Leaders Index*
Yamaha Corporation has been included in the MSCI Japan ESG
Select Leaders Index, an index comprised of companies fromamong MSCI Japan IMI Top 500 Index-listed companies thatexhibit excellence in ESG evaluations.

THE INCLUSION OF YAMAHA CORPORTAION IN ANY MSCI INDEX, AND THE USE OF MSCI LOGOS,
TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP,
ENDORSEMENT OR PROMOTION OF YAMAHA CORPORATION BY MSCI OR ANY OF ITS AFFILIATES.
THE MSCI INDEXES ARE THE EXCLUSIVE PROPERTY OF MSCI. MSCI AND THE MSCI INDEX NAMESAND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI OR ITS AFFILIATES.

Yamaha Sustainability Report 2023

103

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Yamaha Group Sustainability

E: Environment

MSCI Japan Empowering Women Select Index*
Yamaha Corporation has been included in the MSCI Japan
Empowering Women Select Index, an index comprised ofcompanies from among the top 700 Japanese companies bymarket capitalization that exhibit excellence in terms of promoting
gender diversity by empowering women within their industry.

S: Social

G: GovernanceParticipation in Initiatives

S&P / JPX Carbon Efficient Index*
Yamaha Corporation has been included in the S&P / JPX Carbon
Efficient Index, an ESG investment index that was newly adopted
by the GPIF. This index is compiled by S&P Dow Jones Indices
LLC, a world-leading financial market index company.

S&P Japan 500 ESG

THE INCLUSION OF YAMAHA CORPORTAION IN ANY MSCI INDEX, AND THE USE OF MSCI LOGOS,
TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP,
ENDORSEMENT OR PROMOTION OF YAMAHA CORPORATION BY MSCI OR ANY OF ITS AFFILIATES.
THE MSCI INDEXES ARE THE EXCLUSIVE PROPERTY OF MSCI. MSCI AND THE MSCI INDEX NAMESAND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI OR ITS AFFILIATES.

Morningstar Japan ex-REIT Gender Diversity Tilt
Index*The Morningstar Japan ex-REIT Gender Diversity Tilt Index isan index compiled by Morningstar, Inc., based on evaluations ofcompanies’ gender and diversity initiatives performed by Equileap.
Constituent companies are divided into one of five groups basedon their scores. Yamaha Corporation has been selected forinclusion in the top group (Group 1).
Morningstar, Inc., and/or one of its affiliatedcompanies (individually and collectively,"Morningstar“) has authorized Yamaha
Corporation to use the Morningstar Japan
ex-REIT Gender Diversity Tilt Logo ("Logo“)
to reflect the fact that, for the designatedranking year, Yamaha Corporation ranks inthe top quintile of companies comprising theMorningstar® Japan ex-REIT Gender Diversity
Tilt IndexSM ("Index“) on the issue of gender
diversity in the workplace. Morningstar ismaking the Logo available for use by Yamaha
Corporation solely for informational purposes.
Yamaha Corporation’s use of the Logo should not be construed as an endorsement by Morningstar of
Yamaha Corporation or as a recommendation, offer or solicitation to purchase, sell or underwrite any
security associated with Yamaha Corporation. The Index is designed to reflect gender diversity in theworkplace in Japan, but Morningstar does not guarantee the accuracy, completeness or timeliness of theIndex or any data included in it. Morningstar makes no express or implied warranties regarding the Index
or the Logo, and expressly disclaims all warranties of merchantability or fitness for a particular purpose or
use with respect to the Index, any data included in it or the Logo. Without limiting any of the foregoing, in no
event shall Morningstar or any of its third-party content providers have any liability for any damages (whether
direct or indirect), arising from any party’s use or reliance on the Index or the Logo, even if Morningstar
is notified of the possibility of such damages. The Morningstar name, Index name and the Logo are thetrademarks or services marks of Morningstar, Inc. Past performance is no guarantee of future results.

Yamaha Sustainability Report 2023

Yamaha Corporation has been included in the S&P Japan 500
ESG, an index comprised of companies from among the 500
Japanese companies included in the S&P Japan 500 Index thatare selected with an emphasis on ESG considerations. This index
is compiled by S&P Dow Jones Indices LLC.

External Recognition

Editorial Policy

ECPI Global Developed ESG Best-in-Class Index
ECPI World ESG Best Equity Index
Yamaha Corporation has been included in the ECPI Global
Developed ESG Best-in-Class Index and the ECPI World ESG
Equity Index. These are industry-, region-, and theme-specificindexes compiled by ECPI Group S.r.l., an asset management
and consulting company based in Luxembourg and Milan, thatare comprised of companies from around the world that fulfill
certain CSR activity-related criteria. The ECPI Global Developed
ESG Best-in-Class Index is comprised of companies in developed
countries based on ECPI’s ESG standards. The ECPI World ESG
Best Equity Index is a wide-ranging index comprised of companies
from developed countries that fulfill ECPI’s ESG standards.

S&P Global Sustainability Yearbook Member
Yamaha Corporation was named among the Sustainability
Yearbook Members in Sustainability Yearbook 2023 compiled by
S&P Global of the United States with a sustainability evaluation
score placing it in the top 15% within its industry.

CDP Climate Change Report
The Yamaha Group has been assigned a rank of A-, indicating that
it is exhibiting excellence, in the CDP Climate Change Report,
part of the corporate climate change risk information disclosure
program of U.K.-based international NPO CDP.

CDP Supplier Engagement Leaderboard
Yamaha Corporation has been selected as a 2022 CDP Supplier
Engagement Leader by CDP in recognition of its supply chainspanning climate change response initiatives.

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Yamaha Group Sustainability

E: Environment

Evaluations and Awards for ESG Initiatives
Health & Productivity Stock Selection
In 2023, Yamaha Corporation was selected, for the second
consecutive year, for inclusion in the Health & Productivity Stock
Selection program jointly organized by the Ministry of Economy,
Trade and Industry and the Tokyo Stock
Exchange. This program was launchedin 2015 with the purpose of recognizing
companies that are strategically advancing
health and productivity management
initiatives with regard to their employees’
health from a management perspective.

Certified Health & Productivity Management
Organization Recognition-White 500 Category
The Certified Health & Productivity Management Organization
Recognition Program, organized by the Ministry of Economy,
Trade and Industry and Nippon Kenko Kaigi, is a program forrecognizing companies that are advancing strategic employee
health management initiatives from the perspective ofmanagement. Yamaha Corporation has
been recognized through this programfor seven consecutive years since2017 and Yamaha Corporate Services
Corporation has been recognized for six
consecutive years.

Yamaha Sustainability Report 2023

S: Social

G: GovernanceParticipation in Initiatives

SDGs Management Survey
In the 2022 SDGs Management
Survey, published by Nikkei Inc.,
Yamaha Corporation received an
overall rating of 4.5 stars.

"Kurumin“ and Platinum "Kurumin“ Certification
as Company Supporting the Development of the
Next Generation"Kurumin“ is a Ministry of Health, Labour and Welfare systemfor certifying companies with effective systems for supporting
the next generation. Platinum "Kurumin“ certification isawarded to companies, among the companies that haveacquired the "Kurumin“ mark, that conduct initiatives to support
work-life balance at or above a specificstandard. Yamaha Corporation received"Kurumin“ certification in 2008 andPlatinum "Kurumin“ certification in
2016. In addition, Yamaha Corporate
Services received "Kurumin“
certification in 2018 and Platinum"Kurumin“ certification in 2021.

External Recognition

Editorial Policy"Eruboshi“ and Platinum "Eruboshi“
Certification for Promotion of Women’sParticipation and Advancement in the Workplace"Eruboshi“ is a program in which the Ministry of Health, Labourand Welfare certifies companies that have formulated action plans
for the promotion of women’s participation and advancementin the workplace based on the Act on Promotion of Women’sParticipation and Advancement in the Workplace enacted in
April 2016 and that have conducted
excellent initiatives in this area.
Yamaha Corporate Services wascertified as level three, the best rank,"Eruboshi“ in July 2018 before receiving
Platinum "Eruboshi“ certification,
which is awarded to "Eruboshi“certified companies that fulfill certain
requirements, in June 2021.

Gold Rating in PRIDE INDEX
Compiled by work with Pride, the PRIDE INDEX is an index forrecognizing the initiatives of companies and other organizations
for supporting sexual minorities
such as members of the LGBTQ+
community. Yamaha Corporation
has been awarded with the highest
rating of gold in the PRIDE INDEX
each year since 2019.

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Yamaha Group Sustainability

E: Environment

S: Social

G: GovernanceParticipation in Initiatives

External Recognition

Editorial Policy

Editorial Policy
This sustainability report is designed to communicate, to a widegroup of stakeholders, the sustainability vision and initiatives of
the Yamaha Group.
In compiling this report, we prioritized the disclosure of themesof interest and important issues pertaining to the Group based on
the insight gained through communication with stakeholders. In
addition, information was included on a wide range of initiatives
for contributing to the realization of a sustainable society basedon the Yamaha Group Sustainability Policy along with a breadth ofdetailed data on these initiatives.

Date of Issue

Referenced Guidelines

Report Published: September 2023
Previous Report Published: September 2022
Next Report to Be Published: September 2024

Sustainability Reporting Guidelines of the Global Reporting Initiative
Environmental Reporting Guidelines (2018 Version) of the Ministry of the Environment
ISO 26000 (Social responsibility)
SASB Standards
United Nations Sustainable Development Goals
Recommendations of the Task Force on Climate-related Financial Disclosures

The Yamaha Group’s Information Disclosure Venues

Organizational Scope of Reporting
In principle, this sustainability report covers Yamaha Group
companies (Yamaha Corporation and its 58 consolidated
subsidiaries in Japan and overseas). References to "Yamaha" [ or"the Group"] in this report indicate the Yamaha Group. Certain
sections of this report, however, require a more granular scope. In
these cases, the scope is specified.

Reporting Period
April 1, 2022 to March 31, 2023
Notes:
1. The above period is referred to as fiscal 2023 in this report.
2. Certain initiatives underway prior to March 2022 and informationfrom April 2023 onward are also included in this report.

Yamaha Sustainability Report 2023

106

Corporate Planning Division Sustainability GroupURL: https://www.yamaha.com/en/csr/

2023.10