CSR Report 2016
Digest Edition

Corporate Philosophy

Yamaha Philosophy
The Yamaha Philosophy expresses the philosophical framework of the Yamaha Group and consists of five elements: theCorporate Slogan, Corporate Philosophy, Customer Experience, Yamaha Way (mindset and manners), and Yamaha
Quality (criteria for quality).Three of these, the Corporate Slogan, Corporate Philosophy and Customer Experience,describe the Yamaha Group’s reasons for existence, and represent the fundamental principles that form the foundationof the Yamaha Group. In order for Yamaha to achieve this ideal, the Yamaha Way and Yamaha Quality must be adopted
and practiced by all employees, and drawn from for daily inspiration and guidance.
Corporate Slogan
Sharing Passion & Performance
The Corporate Slogan is a more concise statementof the Yamaha Philosophy.

Corporate Philosophy
The Yamaha Philosophy defines the reason for
Yamaha’s existence as a company and the goals
that we seek to achieve through our work together.

Customer Experience
The Customer Experience exemplifies the meaningof “Sharing Passion & Performance” from thecustomer's viewpoint. When customers experience,
use, or own Yamaha products and services theyshould experience a profound response that will
stimulate both their emotions and senses.

Yamaha Quality
The Yamaha Quality is a set of criteria that
supports Yamaha's insistence on quality inproducts and services and our dedication to
excellence in manufacturing. These criteria assist
in making the Corporate Philosophy a reality.

Yamaha Way
The Yamaha Way explains the mindset that all
employees of the Yamaha Group should adopt,
and the manner in which they should act on adaily basis, in order to put the corporate
philosophy into practice.

Promises to Stakeholders
The entire Yamaha Group sharespromises to its stakeholders—customers,
shareholders, the people who work with
Yamaha, and society—working to
improve the satisfaction of eachstakeholder and making effective use of
our management resources to achievesustainable growth in order to maximize
its corporate value.

2

Yamaha Corporation

Customer-Oriented andQuality-Conscious Management

Transparent andSound Management

Yamaha fully satisfies its customers byoffering quality products and services thatincorporate new and traditional
technologies as well as refined creativity
and artistry.

Yamaha delivers proper returns toshareholders by ensuring solid businessperformance and achieves lastingdevelopment through transparent andsound management.

Valuing People

Harmony with Society

Yamaha strives to be an organization where
each person’s individuality and creativity
are respected and all can demonstrate theirfull potential through their work.

Yamaha is a good corporate citizen that
contributes to the development of society,culture, and the economy by observing
laws, demonstrating high ethical standards,
and endeavoring to protect the environment.

Yamaha Corporation Group CSR Policy– Our Aim is “Sharing Passion & Performance” –The Corporate Philosophy of the Yamaha Corporation Group is, “With our unique expertise and sensibilities, gained from our devotion to sound andmusic, we are committed to creating excitement and cultural inspiration together with people around the world.”
Based on this philosophy, Yamaha conducts its CSR activities according to the following guidelines, seeking to contribute to the sustainable
development of society and to further strengthen the bond of trust with its stakeholders through sound, transparent management methods, andcorporate activities that balance social and environmental concerns.
1. By creating new values through products and services focused on social and environmental issues, Yamaha contributes to the sustainable development of society.
2. Through business development and social contributions based in each region of the globe, Yamaha contributes to the promotion and popularization of music, and to
the development of communities.
3. By understanding the significance of protecting the natural environment and maintaining biodiversity, and by promoting the reduction of environmental burden
through measures such as sustainable procurement of timber and lowering greenhouse gas emissions, Yamaha works to maintain a healthy global environment.
4. Yamaha observes laws, ordinances, and social norms, and moreover, conducts business in a fair and impartial manner throughout the entire value chain, including
activities such as socially responsible procurement carried out in cooperation with business partners.
5. Yamaha endeavors to prevent abuses of human rights, responding appropriately to the effect of its business activities as well as to any attendant risks to humanrights, with the goal of achieving a society that safeguards the dignity of all.
6. Yamaha works to create an atmosphere that holds in high regard the employee diversity that is a source of the new values created within the company, and whichallows each person to fully demonstrate their sensibilities and creativity through training and use, without regard to race, nationality, gender, or age.
Formulated in February 2010 and revised in June 2016

The United Nations 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 in the areas of humanrights, labor, the environment, and anti-corruption. The top management of companies that become signatories to the Global Compact pledge their commitment and, within thescope of their enterprises, promise to work consistently to achieve the objectives espoused under the 10 principles. Since signing the Global Compact in June 2011, Yamaha has
actively worked to cooperate with the Global Compact Network Japan in conducting subcommittees.

The 10 Principles of the United Nations Global Compact
Human Rights

Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; andPrinciple 2: make sure that they are not complicit in human rights abuses.

Labor

Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
Principle 4: the elimination of all forms of forced and compulsory labor;
Principle 5: the effective abolition of child labor; andPrinciple 6: the elimination of discrimination in respect of employment and occupation.

Environment

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

Anti-Corruption

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

CONTENTS
Corporate Philosophy

2
4
Corporate Data
6
New Medium-Term Management Plan, “NEXT STAGE 12” 8
CSR Management
10

Annual Activities Report

Message from the President

Organizational Governance

Close-up: Providing Solutions through Sound and Music

Consumer Issues

1 Supporting Children’s Development throughPlaying Musical Instruments
2 Providing the Power of Music to Young People
to Prevent Juvenile Crimes and Delinquency
3 Contributing to Develop Inbound Tourism by
Supporting the Universal Design of Sound

12

Human Rights and Labor Practices
The Environment
Fair Operating Practices
Community Involvement and Development
CSR Promotion Plan

16

Editorial Policy

20

Third-party Opinion

24
26
28
30
32
34
36
38
39

CSR Report 20163

Message from the President

With the aim of “Becoming an Indispensable, Brilliantly Individual Company,”
the Yamaha Group is continuing to work in partnership with society andcontribute to sustainable social development.
Realizing Our Corporate Philosophy
The Yamaha Group is taking initiatives in its businessactivities to realize its corporate philosophy, which it has
expressed as “With our unique expertise and sensibilities,
gained from our devotion to sound and music, we arecommitted to creating excitement and cultural inspiration
together with people around the world.” Under thisphilosophy, we support the development of culture byproviding technologies, products, and services that people
can use to create rich cultural experiences and spreadinspiration and, thereby, fulfill the raison d’etre of the
Yamaha Group. As a leading company in the fields of soundand music, we will always work to create new inspiration
with the peoples of the world. To do this, our management
activities must be transparent and meet the highest
standards, and we believe we must continue to develop ourbusinesses with a view to customer needs and social
issues from a broader perspective.
In 2015, the Yamaha Group prepared its Corporate
Governance Policies statement, which contains Yamaha’sbasic corporate governance policies and helps prepare theway for sustainable growth and increasing Yamaha’s
medium- to long-term corporate value. Also, in April 2016, wereformulated our corporate philosophy framework to makeclear the value that we provide to customers and society
through our products and services and reaffirm the values
that the Group shares as a whole and how we put thesevalues into practice. Based on these policies and its corporate
philosophy, the Yamaha Group conducts sound and highly
transparent management as well as activities that reflect ourawareness of society and the natural environment. Thereby,
Yamaha continues to endeavor to create excitement andcultural inspiration together with the peoples of the world.

New Medium-Term Management Plan
Includes CSR Issues
Under its previous medium-term plan, “YamahaManagement Plan 2016 (YMP2016),” which covered thethree-year period through March 31, 2016, Yamaha
implemented its key strategies, including expanding sales ofthe electronics business domain and boosting
cost-competitiveness. As a result of these initiatives, Yamaha
attained all the targets of the plan for net sales, operating

4

Yamaha Corporation

income, return on equity (ROE), and other key numericalrespect of human rights. As one example of our products

performance indicators. In April 2016, Yamaha launched theand services aimed at alleviating social issues, we can cite

new “NEXT STAGE 12” medium-term management plan,

our Omotenashi Guide*, which is a sound-based universal

aimed at attaining the management vision for the medium- to

support service. This guide has been given high marks inlong-term of “Becoming an Indispensable, Brilliantly

tests held in many public places.

Individual Company.” The basic strategy under the new plan

Activities to put down deep roots in local communities

will be to boost brand power through “Consolidatingaround the world include our initiatives to promote music

Competitive Superiority through Adding New Value andeducation in Malaysia and Indonesia. These activities provide

Differentiation.” To accomplish this, Yamaha is implementing

opportunities for performing on instruments and also having

initiatives to (1) develop products with distinctive individuality,

the pleasure of performing for children in public elementary(2) enhance customer interaction, (3) continually reduce

schools who may have never had the chance to play musicalcosts, and (4) strengthen global business platforms. Our view

instruments. In addition, in Latin America, Yamaha supports

is that in realizing these objectives, addressing CSR issues

the activities of orchestras to aid in promoting the healthy

will be extremely important. Therefore, we have selecteddevelopment of young people and is working to put into

those CSR issues that we think we should strengthen,place the infrastructure needed for spreading music, including

designated them as strategic CSR themes, and included

the provision of instrument repair technicians. Yamaha plansthem in our new medium-term plan. Looking ahead, theto continue these activities and expand them going forward.

Group as a whole will undertake CSR initiatives focusing on

Regarding the promotion of diversity, in view of thethese strategic CSR themes and endeavor to contribute tofact that about 70% of our sales are now made outside

the sustained development of the Yamaha Group and theJapan, we are reaffirming that the diversity of our personnel

sustainability of society.

will be the wellspring of value creation in the years toAddressing Strategic CSR Themescome. Accordingly, we are promoting the training and theassignment of personnel without regard for nationality.

In the new medium-term management plan, we haveAlso, as a result of our measures to encourage women to

included three environmental initiatives: (1) use timberbe active in business and other related initiatives, we aresustainably, (2) reduce greenhouse gas emissions, and (3)working to create a corporate culture where each and every

enhance development of environmentally friendly products

employee can draw fully on their sensibilities and creativity.

and technologies. Sustainable procurement of timber is a

*Hospitality guidehigh-priority issue for Yamaha because we use suchconfirmations related to traceability and compliance with

Aiming at “Becoming an Indispensable,
Brilliantly Individual Company”

legal provisions to be sure timber was not cut illegally. We

In the medium- to long-term, Yamaha’s goal is “Becoming an

are also expanding the volume of procurement of timber

Indispensable, Brilliantly Individual Company.” To realize thiscertified to be from properly managed forests. To reduce

vision, it is important for us to continually offer new value togreenhouse gas emissions, we are preparing plans tosociety, act responsibly as a global enterprise, and secure theexpand the scope of emissions supervision to include ourtrust of all our stakeholders. As a signatory to the United

supply chains, shifting actively to renewable energy sources

Nations Global Compact, Yamaha observes the Compact’s

in view of the content of the COP21 agreement, and

Ten Principles of corporate behavior. Yamaha is also aware

implementing other measures. To offer our customers easilyof the global social and environmental issues indicated by theunderstandable information on our environmentally friendly

U.N.’s launching of the Sustainable Development Goals

products, we actively implemented the Yamaha(SDGs) in September 2015 and is working toward solutions

Eco-Products Program, an in-house verification system,to these issues through its business activities.

materials, and we are, therefore, making more stringent

starting in 2015, and we aim to promote the development ofadditional environmentally friendly products.
Initiatives we are undertaking actively from theperspective of society are (1) enhancing development of

The Yamaha Group will continue to work in partnershipwith society, and, through the pursuit of business activities
that have their origins in sound and music, will endeavor tocontribute to the sustainable development of society.

products and services that address issues facing society, (2)developing regional community-based businesses, (3)promoting diversity, (4) promoting socially responsible
procurement, and (5) taking systematic initiatives for the

President and Representative Director
Yamaha Corporation

CSR Report 20165

Corporate Data

Corporate Profile (as of March 31, 2016)
Company Name

Yamaha Corporation

Paid-in Capital¥28,534 million

Headquarters

10-1, Nakazawa-cho, Naka-ku,
Hamamatsu Shizuoka 430-8650, Japan

Number of Employees(Consolidated)

20,348 (Excluding average number of
temporary employees: 7,990)

Year of Foundation

1887

Date of Incorporation

October 12, 1897

Number of Subsidiary
Companies

73 (of which 67 are consolidated
companies)

Representative

Takuya Nakata,President and Representative Director

Number of affiliatedcompanies

6

Consolidated Financial
Results

Annual Sales: ¥435,477 million
Operating Income: ¥40,700 million
Net income attributable to parent
company shareholders: ¥32,600 million

Business Domains

Musical Instruments
Yamaha manufactures and sells musicalinstruments, operates music schools
and English language schools, distributes
music and video content, operates
a record company and conducts otherbusiness such as publishing.
Sales Ratio

64.0%

Pianos & Digital musical instruments(¥278,900 million)

Music software

Percussion instruments

6

Yamaha Corporation

Wind instruments

String
instruments

Educational musicalinstruments

Soundproof
roomsMusic schools, English
language schools

Global Network (net sales and number of employees by region)

Sales, services, etc.

Production, development, etc.

Japan
Number of employees

Net sales¥145,000
6,149
millionNorth America
Net sales

Number of employees¥88,200
774
millionEuropeNet sales

Asia, Oceania andOther Areas¥82,200
millionNumber of employees

Number of employees

Net sales

1,065¥120,000 12,360
millionAudio Equipment

Electronic Devices

For professional-use and for consumers,
Yamaha manufactures and sells items
such as AV equipment, PA equipment,
musical production equipment andsoftware, online karaoke for commercial
use, network equipment, and voicecommunication devices.

Yamaha manufactures andsells sound source and imaging
LSI for amusement equipment,
vehicle installations and homeelectrical appliances, as well
as semiconductor products likegeomagnetic sensors for
smartphones and other mobile
devices.

AV equipment

Sales Ratio

Sales Ratio

3.0%(¥13,100 million)

Network devices
Semiconductors

27.4%(¥119,400 million)

Others
Voice communication
devices

Musical production
equipment andsoftwareSales Ratio

Other than businesses forgolf equipment, automobileinterior components andfactory automation (FA)equipment, Yamaha also
operates three resort
facilities as resort business.

5.6%(¥24,200 million)

Golf
products

PA equipment

Automobileinterior
components

Resort facilities

FA equipment

CSR Report 2016

7

New Medium-Term Management Plan, “NEXT STAGE 12”

Becoming an Indispensable, Brilliantly Individual Company
Outline of New Medium-Term Management Plan
Yamaha Corporation has prepared and begun implementationof its new medium-term management plan, “NEXT STAGE
12,” which will cover the three-year period that began in April
2016. Yamaha’s management vision, which describes thedesired future image of the company, is “becoming an
indispensable, brilliantly individual company” in the mediumto long-term. Yamaha has positioned the coming three years
under the new medium-term plan as a time for increasing
brand power and showing stronger profitability as a result.
Under the plan, Yamaha’s basic strategy is to consolidate
competitive superiority through adding new value anddifferentiation. To accomplish this, Yamaha will further
deepen its connections with customers and reginalcompanies, raise attractive quality, and always offer solutions
with new added value; doing so with the aim of contributing
to the realization of a sustainable society.
Yamaha has set an operating income ratio of 12% as amanagement goal in the final year of the plan, and will work on
the following three objectives.
Management Objectives to Achieve by End of March 201912%

Operating Income Ratio•Further raise profitability of musical instrument business•Expand audio equipment business to rival musicalinstrument business in the future•Establish platform for industrial machinery and components
business as third key domain following musical instruments
and audio equipment
Positioning of New Medium-Term Management Plan

8

Yamaha Corporation

Four Key Strategies

1 Develop products with distinctive individuality
Through fusing Yamaha’s technologies, which range widely frommaterials and analytical technologies to sound sources, signal
processing, networks, and evaluating human sensitivities, Yamaha
is positioned to deliver unique value that is added to excellent basic
functions and develop products that others cannot imitate.

2 Enhance customer interaction
By offering customers optimal services and solutions, Yamaha isfostering stronger and broader ties with its customers. To realize
this, Yamaha is working to speed up the expansion of its sales
network for consumer products and the promotion of music
popularization activities suited to local needs, while enhancing
corporate and business-to-business service systems and locations.

3 Continually reduce costs
Yamaha continues to reduce manufacturing costs (throughreorganizing production processes, reducing purchasing costs,
introducing new production methods and other means) and improve
the productivity of indirect operations.

4 Strengthen global business platforms
Yamaha is facilitating international careers by assigning personnel
to positions that are the most suited to them and promoting further
career development.
In addition, Yamaha is working to globally optimize its IT,
logistics, finance, and administrative functions to strengthen its global
business platforms and promote enhanced operational efficiency.

ESG Challenges of New Medium-Term
Management Plan
Based on medium- and long-term management policies atthe core of the management vision, strategic CSR themes
were formulated for parts of CSR management (see P.10−
11). Yamaha will work towards resolving social issues

through business activities based on business strategies,
and give due consideration to the environment and society
in its business processes. Yamaha is strengthening its
corporate governance and internal control systems toensure sound, transparent management that provides afoundation for promoting initiatives.

Management Issues of Each ESG Perspective in the New Medium-Term Management Plan, “NEXT STAGE 12”

E (Environment)

Promote activities for creating a sustainable society by reducing environmental impact.

1

Reduce environmental impact in business processes•Sustainable use of timber (stringent verification of traceability and lawfulness/expanded use of certified timber/forest preservation activities)•Lowering of greenhouse gas emissions (emission management that expands the scope of emissions throughout the entire supply chain/formulationof emission reduction plan including shift to renewable energy based on provisions of COP21 agreement, etc.)
Enhance development of environmentally friendly products and technologies•Develop environmentally friendly materials (develop alternative materials for rare wood, etc.)

2 •Encourage Yamaha Eco-Products Program**Program to promote environmentally friendly products certified in accordance with original Yamaha standards•Develop related technologies for lowering greenhouse gas emissions (thermoelectric devices, hydrogen sensors, etc.)

S (Social)

Promote activities for creating a sustainable society through responding to social issues, enhancing employment policies, etc.
Enhance development of products and services with a focus on social issues

1 •Apply sound-related knowledge and technology, and introduce more universal design products. (Launch of Omotenashi Guide (sound-based universal
support service)/Application of wearable sensors in the healthcare field, etc.)

Development of regional community-based business (Music popularization activities, cultural promotions, and corporate citizenship activities)

social issues through music and contribute to community development (Support for community revitalization through the Oto-machi
2 •Resolve
project/Cooperation and support for music education support projects in Central and South America/Development of musical education programs inpublic elementary schools, mainly in the ASEAN region, etc.)
Promoting diversity, socially responsible procurement and implementing systematic initiatives for respecting human rights

3 •Carry out activities in line with the United Nations Global Compact (Expand support systems for working parents, and those who work and take careof elderly relatives/Verify compliance with the Yamaha Supplier CSR Code of Conduct and request corrective action when necessary, etc.)

G (Governance)Continue to improve organizational structures and mechanisms to maintain and advance transparent, high-quality management
Corporate Governance Initiatives

1 •Ensure highly effective operation of the Board of Directors and swift implementation of decisions by separating corporate oversight from execution
and strengthening supervisory functions

Initiatives for Strengthening Internal Controls

2•Receive higher evaluations from external specialists for Yamaha’s internal auditing systems and methods.
•Improve Yamaha Group corporate governance, including overseas Group companies, as a result of further improvements in the quality of internal
control systems.
•In addition to an existing corporate culture with a strong sense of ethics, improve ability to manage risk by introducing a more advanced risk
management structure

For details of the new medium-term management plan, visit “Investor Relations”

https://www.yamaha.com/en/ir/presentation/
CSR Report 2016

9

CSR Management

Developing and Promoting Strategic CSR Themes
CSR Management Applying ISO 26000

Development of Strategic CSR Themes

The Yamaha Group continues to engage in a variety of
CSR issues by offering products and services andengaging in business processes and corporate activities inregional societies.
In promoting CSR initiatives, it is important to respondas well as possible to the needs and expectations of society
in addition to the issues on which the Yamaha Group itself
focuses. Based on this recognition, as of fiscal 2014,
Yamaha has been applying ISO 26000 Guidance on Social
Responsibility to inspect the status of CSR activities in the
Yamaha Group. In fiscal 2015, we organized activities inaccordance with the core subjects of ISO 26000. Based on
the goal of influencing stakeholders, we set forth the “CSR
Promotion Plan,” which includes prioritized themes anditems for future initiatives of the Yamaha Group.

In fiscal 2016 in accordance with the CSR Promotion Plan,
we confirmed progress in each theme. We also made surethat we understood the demands and needs of ourcustomers, the local communities in which we work, NPOs
and NGOs, our employees, socially responsible investment(SRI) research organizations and others, and listened toexperts from outside the company. From this, we thendevised the themes necessary for further promotion.
Based on medium- and long-term management strategies
that focus on our management vision, those themes werediscussed at the executive level and we formulated “TheStrategic CSR Themes” of the Yamaha Group.
Moreover, according to those strategic CSR themes,
we revised our CSR policy and included it as a businessissue of each ESG perspective in the medium-term
management plan, “NEXT STAGE 12.” From now on, weplan to set numerical targets in order to measure progress
more easily.
*See P.3 for The Yamaha Corporation Group CSR Policy

CSR Initiative System

10

Yamaha Corporation

Strategic CSR Themes•Development of products and services with a focus on social issues(universal design, environmentally friendly products, application of sound technologies, etc.)•Development of regional community-based business and social contribution activities(resolution of regional issues through music, contribution to the development of regional communities, etc.)•Lowering of greenhouse gas emissions(emission management that expands the scope of emissions throughout the entire supply chain, etc.)
Sustainable procurement of timber (stringent verification of traceability and lawfulness, expanded use of certified timber, etc.)•Socially responsible procurement(by confirming adherence to the Yamaha Supplier CSR Code of Conduct and making requests for improvements when necessary, etc.)•Systematic initiatives for the respect of human rights (evaluating the influence of our business activities on human rights, etc.)•Promotion of diversity and human resources development(promotion of the active role of female workers, cultivation of global human resources, etc.)

Strategic CSR Theme Selection Process

Inspect contents of activities•Inspect previous initiatives for the core subjects of ISO 26000 (fiscal 2014)

Organize CSR Promotion Plan

•Organize activities in line with the core subjects of ISO 26000 (fiscal 2015)

Extract priority issues•Check progress in accordance with CSR Promotion Plan
•Understand items requested regarding sustainability (our customers, local communities, NPOs and NGOs,
employees, SRI research organizations, and others)•Extract priority issues after listening to experts outside of the company (fiscal 2016)

Strategic CSR Theme Development•Based on medium- and long-term management strategies that focus on management vision, the themes
were discussed among executive management and “The Strategic CSR Themes” were formulated tostrengthen promotion•Reflect the contents of The Strategic CSR Themes in the CSR Policy (fiscal 2017)

Relationship between the Strategic CSR Themes and Core Subjects of ISO 26000

Strategic CSR Themes(See above for details)Core Subjects of ISO 26000

Development of products and services
with a focus on social issues

Organizational Governance

P.24

Development of regional
community-based business and social
contribution activities

Human Rights

P.26

Labor Practices

P.26

Lowering of greenhouse gas emissions,Sustainable procurement of timber

The Environment

P.28

Socially responsible procurement

Fair Operating Practices

P.30

Systematic initiatives for the respect ofhuman rights

Consumer Issues

P.32

Promotion of diversity and humanresources development

Community Involvement
and Development

P.34

CSR Report 201611

Close-up

Providing Solutions through Sound and Music

1

Music Time Program in Public Elementary Schools around the World

Supporting Children’s Development throughPlaying Musical Instruments
An enhanced music education during childhood
can help to develop a child’s sensitivity andcreativity, as well as contribute to acquiring a
sense of cooperation through group learning in
the classroom.
Yamaha’s desire is for many children who are
not fortunate enough to have an opportunity toplay a musical instrument to do just that; giving
them the chance to experience the joy andgreatness of playing music. To support thatgrowth, Yamaha proposes original solutions thatcreate opportunities for musical instrument
performances in various regions of the world.

12

Yamaha Corporation

Review

Children Not Fortunate Enough to Havean Opportunity to Play a Musical Instrument
One of the problems that music education in the publicschools of the world faces is a lack of sufficient facilities andteachers. Depending on what part of the world, there areeven some places where enhancing the music education
curriculum is not considered important. Additionally, reducing
the time allotted for teaching music and lowering the cost oflessons can still result in a situation where many children do
not have an opportunity to play a musical instrument.
On the other hand, in countries in Asia, for example,
there is a tendency to develop the arts in association witheconomic growth. There is an interest in cultivating
aesthetic sensitivity together with improving the standardsof living, and the desire to provide a higher quality of musiceducation to children is rising. The Yamaha Group is
responding to this through the activities of Yamaha Music
School; but in reality, many of the students are members ofwealthier families.
An enhanced music education widens the possibilities
of a child’s development. Therefore, based on our desire forchildren to cultivate sensitivity and creativity, and to
experience the joy and greatness of music by playing a

musical instrument, we created the Music Time program;an initiative that provides music lessons within a school
curriculum. Yamaha began developing this program in Asian
countries during 2015. Music Time is a new initiative thatmakes use of instruction know-how in music education that
Yamaha has been developing over the years.

Yamaha’s Approach

Providing Music Time Music Lesson Infrastructure
Yamaha’s Music Time program offers musical instruments,
textbooks and training program to public elementary
schools in order to promote and create an environment inwhich instrumental music education can take place.
Original materials are created for the Music Timeprogram, and we also offer a training program for those
who want to become instructors. In addition, local
subsidiaries and sales agents of the Yamaha Group
cooperate together to provide instruments, such as
portable keyboards and guitars, to elementary schools. At
these schools, instructors who have completed Yamaha’s
training program teach lessons using Music Time materials
and instruments. The Music Time program is a
supplementary activity in addition to the existing music
curriculum provided.
As of March 2016, 52 schools in Malaysia and 90
schools in Indonesia have participated in the Music Timeprogram. In Indonesia, elementary school teachers train to
become Music Time instructors, and subsequently, theirschools manage the program by themselves.

Music Time Structure

Ministry of
Education

YamahaCooperation

Dispatch
instructors
Provide musicalinstruments andtextbooks

Conduct lessons

Train teachers
Public elementary
schoolParticipation

Instruction

School teachers

Children/Students

CSR Report 201613

1

Close-up Providing Solutions through Sound and Music

Music Time Program in Public Elementary Schools around the World

Next Step

Expanding the Number of Music Lovers through School Lessons
Music Time is gathering attention as it raises children’s
motivation and contributes to developing a sense ofcooperation and responsibility when students play
together, such as in ensembles.
As more people enjoy and perform music, a ripple
effect can be expected in Yamaha Music School in eachregion. Yamaha plans to expand the Music Timeprogram in Russia, Vietnam and the Philippines. Plans
are to promote the business targeting five countries,
1,000 schools and over 100,000 students in the next
three years. Yamaha will also continue to develop
programs that match the conditions of each country,
appealing to the country’s Ministry of Education, and theschools, the importance of music education inelementary schools.

Music Time Development Target
Target 1,000 schools and100,000 students by theend of fiscal 2019!

Number of students
Number of participating schools
Number of participating
countries

4500
30,0003
250
15,000countries

schools

schools
students

2017

5
1,000
55,000countries

countries

students

2018

schools

students

2019 (Fiscal year)

Music Education Initiative Development
YamahaMusic Time
•Musical instruments•Textbooks

Public elementary schools
Conduct
lessons

Enhanced curriculumin school education•Training program

Cooperation

Developing in-school activities
Marching band
Wind ensemble

Management
AgencyIncrease in the number of music performers
and musical instrument lovers

Yamaha Music School

Comments

This program supports various learning
processes for Students.

Aiming to expand Music Time globally.

Truly enjoying the lessons, students practice on their own todevelop their skills. This program fosters children’s
discipline and self-confidence, giving them a sense offulfillment as they practice and strive to achieve, as well as
develop their creativity. Their attitude towards learning is
improved and there has been a good impact seen in termsof learning in other classes.

Seeing the joy in children’s faces as they enjoy the lessons
is my greatest motivation for promoting Music Time. Our
desire is to expand the use of Music Time globally, andenable more children to experience the joy of music andplay musical instruments.

Headmistress
TTDI (Taman Tun Dr. Ismail Jaya)
Primary School

14

Yamaha Corporation

General Manager
Public School Music Development
Yamaha Music (Malaysia) Sdn. Bhd.

Music Time Initiative Development (as of March 2016)

Malaysia
Since February 2015, activities have expanded: 50
schools have received portable keyboard curriculum andtwo schools have received guitar curriculum. In October
2015, 10 schools participated in a music festival.

Russia (planned)
Indonesia
Starting in August 2015, 40 schools in the city ofBandung received portable keyboard curriculum. As ofnow, this has been expanded to 90 schools in four
cities. Development continues to expand to other cities.

Philippines (planned)
Vietnam (planned)

Teachers can learn new technologies
while nurturing children’s talents.

We’re expanding activities by making
proposals to the Education Board.

With the Music Time program, the ability for children to playmusical instruments fosters a child’s talents and skills,
which leads to further increasing his/her knowledge. I’mvery happy too, in that I myself get to learn newtechnologies, such as using a portable keyboard, andteaching children and my teacher colleagues how to usethem as well.

The program was carefully implemented in a way that
explains the importance of music education and how toteach the contents while ensuring not too much burden isplaced on teachers who have no music background. In the
future, I will make a proposal to the Education Board toinclude music education curriculum at the primary schoollevel as well.

Teacher
Rancaloa Public Primary School

Music Time Project Representative
PT. Yamaha Music Indonesia (Distributor)

CSR Report 201615

Close-up

Providing Solutions through Sound and Music2

Supporting Youth Development in Central and South America

Providing the Power of Music to Young People
to Prevent Juvenile Crimes and Delinquency
In many countries in Central and South America,
crime and poverty as well as social inequality areserious social problems. In order to enable thechildren in such environments to grow up with ahealthy spirit instead of leaning towards crime,delinquency or violence, music education activities
are provided free of charge as a country policy,
including forming regional youth orchestras andband groups. Yamaha contributes to these activities
by promoting a project to support the healthy
development of youth through the power of music.

Review

Youth Development through Orchestras and Bands
It is estimated that there are approximately 500,000
students who belong to youth orchestras or bands inCentral and South America*. Promoting these activities,
the market for wind, string and percussion instruments
expanded rapidly in those regions. Consequently, many
manufacturers from all over the world participate in thismarket, which enables many users to choose from a wide
range of products and play. At the same time, however,some problems have been created by the lack ofmaintenance for all those instruments. A further problem
has been the lack of technicians to repair damaged
instruments.
For the purpose of solving such problems, Yamaha
cooperated with local subsidiary companies in Latin
America and started a new project in fiscal 2015.

* Estimated by Yamaha. Calculated based on various data and informationfrom Group companies outside of Japan and other organizations

16

Yamaha Corporation

Approximately

500,000

belong to a youth orchestra or band.

students

Yamaha’s Approach

Create an Environment to Provide an Opportunity for Music Performances
over an Extended Period of TimeFor the regions in Central and South America, the YamahaGroup aims to create an environment in which many
people can learn the skills required for maintaining andrepairing musical instruments.
In order to enjoy performing over a long period oftime, the daily maintenance of musical instruments isnecessary. Additionally, technicians who are able to repair
damaged instruments are needed. Yamaha holds
maintenance workshops in those regions and is working tobuild a structure and network for training technicians.
For many years, Yamaha’s local subsidiary companies
have been providing support to youth orchestras and bandgroups as part of their community support activities. Using
the partnership that has been created during that time, theYamaha Group intends to put forward educational solutions
such as holding training seminars.
By taking care of their own instruments, children willraise their awareness of the importance of the instrument,
as well as the importance of maintaining it. In addition, thetechniques used in repairing instruments are great skills tohave for those who search for employment in areas where
there is a large population of music performers.
With this perspective, the Yamaha Group contributes
to further development of music education and culture,and to solving social issues in countries in Central andSouth America, by providing technologies for, andknowledge of musical instruments to many people.

CSR Report 201617

Close-up Providing Solutions through Sound and Music2

Supporting Youth Development in Central and South America

Holding Maintenance Workshops
Yamaha holds workshops for the instructors of youth
orchestras and band groups where the staff members of
the local subsidiary companies and sales agencies explain
instrument maintenance methods according to guidebooks
created by Yamaha. Subsequently, the instructors teachthose methods to the children, who then learn how tomaintain their own instruments. Over time, the children
become accustomed to looking after their instruments inorder to keep them in good working condition.

Maintenance Workshops
Yamaha local
subsidiary companies
and sales agencies
Hold

Workshops for
instructors
Participation

Youth orchestra and band activities
Instructors teach maintenancemethods to children

Building a Structure and Network to Train Technicians
All companies under the Yamaha Group cooperate together
to build a foundation for the purpose of continuously training
technicians to repair instruments.
Yamaha prepares the training program and manuals,
and shares the contents with the technicians of the local
subsidiary companies through seminars and forums. A
technician of each company expands training activities intheir region, where local people get the training andapproval to be technicians. In fiscal 2015, Yamaha started
activities with Yamaha de México (YDM), YamahaMusical do Brasil (YMDB), and Yamaha Music Latin
America (YMLA).
Based on this structure, we plan to train people incountries in Central and South America to become
Yamaha-certified technicians, highly skilled and able torepair all wind, string and percussion instruments.

Technician Training Structure

Yamaha
Hold

Hold

Forum

SeminarExchange informationand opinions

Technician training
Yamaha local
subsidiary companies

Participation
YDM

YMDB

Participation
YMLA

Training
andapprovalCandidates

Comment

Training technicians to support the music culture.
In Central and South America, there is a shortage in thenumber of technicians who are sufficiently skilled comparedto the number of musicians. Moreover, many children areforced to use musical instruments in bad condition due toimproper maintenance.
When I belonged to Yamaha Music Europe, I worked
with some staff members of the local subsidiary companies
and sales agencies in Central and South America. Together,
we used to instruct their local repair technicians. I think thelevel of their skills, having completed the Yamaha Groups’
training, definitely improved. I would like to keep telling thetechnicians that these activities are great for not only them,
but also the musicians and children of Central and South18

Yamaha Corporation

America. These activities will help improve situations for themusicians and the condition of children’s instruments. I
would be happy if my experiences as a technician and an
instructor, combined with Yamaha’s long-term commitment
to technology, would help increase the level of music
culture in Central and South America.

Technical Adviser
Yamaha Music Europe GmbH (former employee)

Maintenance workshop (YDM)

Instructors from local subsidiary companies andsales agencies train people to be technicians (YMLA)

Next Step

Building a New Education Infrastructure
Local subsidiary companies based in Central and SouthAmerica corresponded immediately to each country’s
policies, and each company has been supporting themusic culture in those countries. Such activities help
advance the sound development of youth and the skills
needed to find employment.

All companies under the Yamaha Group cooperate
together to provide training programs, and by
establishing the programs, we aim to build an education
infrastructure that covers all regions of Central and SouthAmerica.

Activities Supported by Local Subsidiary Companies

Colombia

Venezuela“Cauca Wind Orchestra (OCV)”(YMLA)“El Sistema” (YMLA)YMLA has been supporting El
Sistema, a music education
project promoted by the
Venezuelan government, for over
15 years.
El Sistema is a delinquency
prevention and poverty
eradication system to stabilize
society by promoting music
activities for children andsecuring jobs for them in the
future. YMLA provides musicalinstruments to this project, andalso dispatch band instrument
experts from Japan and Europe
and hold seminars.

YMLA established the Cauca
Wind Orchestra (OCV) in
cooperation with a foundation(Polifonia Foundation) and an
agency in Colombia (Incolmotos
S.A.), and supports its activities.
Cauca, Colombia is an unsettled
region known for cocaine
smuggling and frequent bombingsand kidnappings. The aim of
OCV's activities is to change thelives and hearts of children
through music.
Cauca Wind Orchestra (OCV)

Brazil“Sopro Novo” (YMDB)YMDB formed the volunteer organization Sopro Novo in 2005,
and it is holding seminars all over the country to train musicteachers and popularize recorder music. In Brazil, since 2012,
music content is mandatory in public schools, but not as adiscipline. This means that there is no regular music educationin the country and the Sopro novo activity is a precious
opportunity to offer many people, from children to adults, theirfirst music learning experience.

Children with El Sistema founder
José Antonio Abreu
Courtesy of FUNDAMUSICAL

Teacher training seminar

CSR Report 201619

Close-up

Providing Solutions through Sound and Music

3

Omotenashi Guide System for Visitors to Japan

Contributing to Develop Inbound Tourism by
Supporting the Universal Design of Sound
In recent years, the number of foreign tourists
coming to Japan (inbound tourism) has been
growing, and the further increase of those numbers is
being promoted. With that being said, it has become
increasingly difficult to effectively transmit Japanese
announcements in multiple languages for those whocome to Japan from a variety of countries.
Yamaha developed the Omotenashi Guide—a system
supporting the universal design of sound.
Yamaha is proposing the Omotenashi Guide as asolution to making it possible to receive translationsof Japanese announcements in written format.

20

Yamaha Corporation

Review

Multilingual Guide Services to Help Establish a Tourism-Dependent Country
With the 2020 Summer Olympics and Paralympics being
held in Tokyo, Japan is attracting attention from all over theworld. The Japanese government announced that it would
establish a tourism-dependent country by setting a newtarget for the number of inbound tourists by 2020. The
government’s aim is to double the target set previously
within the next four years.
What will be required to consider then is a way toprovide multilingual services at a variety of facilities where
tourists visit. Until recently, pre-translated announcements
or displays of subtitles had been the main way to help
overseas tourists. However, because of time and spaceconstraints, such ways would limit the amount of
information provided and cause confusion when translations
in many languages are displayed together.
Consequently, Yamaha developed the Omotenashi
Guide to help resolve these problems and is taking theinitiative in creating a universal design for sound that willallow verbal information to be easily conveyed to as many
people as possible.

Japanese Government’s Target for Inbound Tourism(ten-thousandpeople)6,000

Target: 40 million
people by the year 2020

6,000

4,000
4,000

1,974
2,000

836
0

2012

2015

2020

2030

(year)*Source: The Development of a Tourism Vision to Support the Future of Japan,
published by the Japanese government, March 2016.

Yamaha’s Approach

Omotenashi Guide – Multilingual Guide Services to Display Audio
Announcements in Foreign Languages on Mobile Devices
With the Omotenashi Guide, people at places where theservice is available can receive text translations of Japanese
announcements and narrations in their native language after
downloading and installing the application on theirsmartphone or tablet. People who do not understandJapanese, who are elderly, and/or have a hearing disability
are able to read the information of Japanese
announcements and narrations.
In addition, one of the main characteristics of thisservice is that it works at a variety of facilities using just one
application, the Omotenashi Guide. This enables facilities tocontinue using exiting speakers or announcement devices,and therefore there is no extra cost for them to provide theservice.
In September 2015, the Omotenashi Guide system
was presented the Innovative Technologies 2015 Award
from the Ministry of Economy, Trade and Industry.

Omotenashi Guide System
Collaborating
facilities

Japanese announcements areautomatically translated into
multiple languages.

After downloading andinstalling the application, users receive
a written format of Japanese announcements
translated into their native language.

Available for automatedJapanese announcements

Available for verbal
Japanese announcements

CSR
CSRReport
Report 2016
2016

13
21

Close-up Providing Solutions through Sound and Music

3

Omotenashi Guide System for Visitors to Japan

Next Step

Verification Tests for Implementing Universal Design of Sound
In order to take maximum advantage of the Omotenashi
Guide, it is necessary to have as many facilities as
possible install the system. Yamaha has created the“Sound UD Project” for the purpose of popularizing thesystem in cooperation with businesses and authorities.
Since May 2015, aiming to implement the
Omotenashi Guide, Yamaha has been conducting
demonstration experiments at businesses, public
facilities, and tourist facilities that have inbound tourism
promotion and barrier-free initiatives. At each facility indifferent locations, we have so far received great
feedback from foreign tourists after using the Omotenashi

Sanrio Puroland

Guide. Additionally, it was used as an official application in
the Japan Pavilion* at Expo Milan 2015.
Yamaha will continue researching how to provide a
better-quality system while carrying out further
demonstration experiments and tests. Moreover, incooperation with ministries and authorities of Japan, we
will aim to spread the system as an infrastructure that canbe used anywhere and by anyone before the Tokyo
Summer Olympics and Paralympics in 2020.
*Secretary Ministry: Ministry of Agriculture, Forestry and Fisheries/
Ministry of Economy, Trade and Industry/Deputy Secretary Ministry:
Ministry of Land, Infrastructure and Transport
Participation: Japan External Trade Organization; JETRO

Shibuya Center Street

Kintetsu Railway: Osaka Nanba Station

Omotenashi Guide Demonstration and Testing Locations (As of the end of April 2016)
In Kanto area:
Narita International Airport, Japan Airlines (Haneda Airport),
Tokyu Bus via Daikanyama, Shibuya Center Street,
Aeon Mall Narita, Aeon Mall Makuhari Shintoshin, Sanrio Puroland,
Namco J-WORLD TOKYO, H.I.S.
In Kansai area:
Kansai International Airport, Kintetsu Railway: Ise-Shima Liner,
Kintetsu Railway: Osaka Nanba Station, Nagoya Station,
Nankai Electric Railway: Express Rapit, Hanshin Electric Railway:
Kobe-Sannomiya Station, Hankyu Railway Company:
Kawaramachi Station, Keihan Electric Railway Uji Line,
Kyoto Takashimaya

22

Yamaha Corporation

Survey Results

Question: What is your impression of the facilities
where you can use the Omotenashi Guide?
Does not make a difference

Convenient

2.59%

62.69%

Will go without the service,
but better with the service

34.72%

Answered:
387 people

Plan to Popularize the System Using the Sound UD ProjectAt airports

At train stations/In trains∙Baggage pick-up information ∙Immigration information∙Flight information∙Transfer information∙Delay information

Bus services∙Transfer/Terminal information∙FaresAchieving universal design of sound in Japan through mutual cooperation

At hotel facilities∙Announcements∙Emergency information

In commercial
facilities∙Announcements∙Duty-free information

Aeon Mall Narita

At theme parks/museums∙Tourist information

Narita International Airport

Comment

I anticipate mutual development with further popularization.
As the number of visitors from overseas increases, there
is a need for the country to take the initiative to be more
universal. For example, signs at airports should be
multilingual and meals such as Halal food ought to beprepared especially for the 2020 Summer Olympics andParalympics in Tokyo.
The best advantage of the Omotenashi Guide is theconvenience of obtaining a multilingual service on yoursmartphone without requiring facilities to do anything. It
is excellent that the system has a great possibility to be
developed mutually at different places such as airports,
on trains, and in stations and shopping malls, all of which

many foreign tourists visit. I would like this application to
be popularized further and used in many more places,with the ability to be used for a variety ofannouncements.

Senior Manager
IT Planning
IT Development and Planning Department
Corporate Planning Division
Narita International Airport Corporation

CSR Report 201623

Annual Activities Report

Organizational GovernanceTo build trust with its stakeholders, the Yamaha Group is conducting sound and highly
transparent management by reinforcing its corporate governance system, promoting
compliance and risk assessment, and appropriately disclosing information.

Corporate Governance System

Establishment of Corporate
Governance Policies

With the General Shareholders’ Meeting as its
highest decision-making body, Yamaha Corporation
has built a corporate governance system centeredon the supervision of management’s execution ofduties by the Board of Directors, and audits by the
corporate auditors. Furthermore, in addition to the
Corporate Directors Personnel Committee, which isan advisory body to the Board of Directors, Yamaha
has also established a Management Council, a Risk
Management Committee, and Corporate
committees as advisory bodies to the President andRepresentative Director. At the same time, Yamaha
is seeking to reinforce the governance function by
developing its internal audit system. Audits by highly
independent outside auditors coupled with audits ofdaily operational tasks by full-time auditors make fora fair and equitable audit system, and help to raise
the effectiveness of governance.

In order to achieve sustainable growth and improve
medium- to long-term corporate value, the YamahaGroup created Corporate Governance Policies in
November 2015. The policies respect the Corporate
Governance Code formulated by the Tokyo Stock
Exchange and comprehensively expresses theGroup’s governance policy.
The policies can be downloaded from Yamaha
Corporation’s website.
Corporate Governance Policies

https://www.yamaha.com/en/ir/governance/pdf/
governance_policies.pdf

Corporate Governance Structure (As of June 23, 2016)
General Shareholders’ Meeting
Appointment/dismissal

Appointment/dismissal

Requestfor advice

Corporate Directors
Personnel Committee

Board of Auditors
Board of Directors

Reports

Audit

6 persons(Incl. 3 Outside Directors)

4 persons(Incl. 3 Outside Directors)

Appointment/dismissal

4 persons(Incl. 2 Full-time Auditors)(Incl. 2 Outside Auditors)

Corporate Auditors’ OfficeAppointment/dismissal/supervision

Management Council
Risk Management Committee
Corporate Committees

Requestfor advice
Reports

Reports

Representative Director
1 personAppointment/
dismissal

Audit

Instruction

Reports•Determination of
measures forappointment•Judgments ofappropriateness ofaccounting audit

Accounting audit

Internal Auditing Division

Reports

Executive Officers 16 persons

Internal audit

Individual Business Divisions, Administrative Divisions
Group Companies in Japan

24

Yamaha Corporation

Accounting
Auditors

Overseas Group Companies

Business Continuity Plan (BCP)

Proactive IR Activities

Based on the basic policy for risk management,
Yamaha Corporation established a Risk
Management Committee as an advisory body to the
President. This committee deliberates on mattersrelated to risk management from a companywide
standpoint and reports its findings to the President
and Representative Director. Working groups havebeen established under the Risk Management
Committee to deal with important matters that are
difficult for individual business divisions andadministrative divisions to cover during theexecution of their basic day-to-day duties, andimplement risk management activities.
As part of this, the Yamaha Group has
formulated and promotes a Business Continuity Plan
(BCP) to respond in the event of a large-scale natural
disaster. In fiscal 2016, we rebuilt our system to deal
with crisis situations and established response
processes. We also rebuilt our emergency contact
system to enable the swift collection of informationand decision-making if such an event occurred.
The Yamaha Group has been conducting BCP
training assuming an emergency situation since
fiscal 2011. In fiscal 2016, we conducted a business
infrastructure recovery drill in order to confirm theeffectiveness of our infrastructure recovery BCP,
and revised our BCP procedure manual to solve
issues identified at that time.

Yamaha Corporation carries out timely andproactive disclosure of information in line with its
Disclosure Policy.
In addition to holding quarterly results briefings
for stock analysts and institutional investors, Yamaha
occasionally conducts conferences and briefings on
its management policies and individual businesssegments as well as factory and facility tours. In fiscal
2016, Yamaha hosted a briefing session for musicalinstruments and audio equipment businesses at
Yamaha Ginza Studio.
For investors outside of Japan, Yamaha provides
investor relations information in English. Additionally,
the Company's management team—including thepresident—visits overseas locations several times ayear to foster mutual understanding through directcommunication that encompasses explanations of
the Company's management plans as well as thestatus of its businesses.
For private investors, and as a part of the effort
to expand its shareholder base, Yamaha began
conducting explanatory meetings and briefings forprivate investors in regional cities in Japan in fiscal
2011. In fiscal 2016, meetings were held at threevenues: Tokyo in November 2015, and Nagoya andGifu in March 2016.

A briefing for securities analysts and institutional investors to explain about
Yamaha’s business strategies

Business infrastructure recovery drill

A conference for private investors

A more detailed report on a wider range of topics is given on the Yamaha website.

https://www.yamaha.com/en/csr/governance/
CSR Report 201625

Annual Activities Report

Human Rights and Labor Practices
Yamaha clearly conveys its stance towards respect for human rights in its Compliance Codeof Conduct and adheres to the principles of the UN Global Compact in the areas of humanrights and labor.
While respecting the diversity of our human resources, we endeavor to create aworkplace environment that enables employees to leverage their senses and creativity.
Strategic CSR Themes•Systematic initiatives for the respect of human rights (evaluating the influence of our business activities on humanrights, etc.)•Promotion of diversity and human resources development (promotion of the active role of female workers,
cultivation of global human resources, etc.)

Development of Global Personnel
The Yamaha Group seeks to maximize its humanresources by assigning the right person to the righttask and department regardless of race, nationality,
gender, age or other factors; doing so to raise theindividual’s motivation and drive. In order to respondto the globalization of society and diversification ofvalues and lifestyles in recent years, by promoting
autonomous business activities firmly rooted in eachregion, the Yamaha Group appoints local personnel
from each base to important posts within the groupand exerts efforts to develop personnel who canplay a strong role at the global level.
In October 2015, Yamaha’s HR Department
established the Global Human Resources
Development Section, which aims to develop
personnel capable of engaging in business at the
global level. The aim of this new section is toaccomplish the following four missions.

The Yamaha Group aims to create an optimal
production system throughout the entire group by
clarifying the roles and functions of each of its basesin Japan and overseas and focusing on developing
human resources that support manufacturing. In fiscal
2015, global manufacturing management training, a
program for local human resource development, wasnewly established at overseas manufacturingsubsidiaries, and the first round was held from
November 2014 to August 2015. The second roundbegan in May 2016 after changing the name of theactivity to SSI-World in accordance with thereplenishment and reorganization of manufacturing
management personnel development systems.

Missions of the Global Human Resources
Development Section
1) Appraise core global personnel
Assign personnel to the best position for them while
disregarding the boundaries of country of origin andoriginating company
2) Grade
Promote the transfer of personnel between local
affiliates as an indication of activities common togroup companies
3) Evaluate/Treatment
Acquire and retain a balance of outstanding
personnel within the Group4) Train/Succession plan
Prepare a plan for developing successors

Global Manufacturing Management Training(Yamaha Music Manufacturing Asia)(Top) A lecture on the theme of Kaizen(Bottom) Actually improving plant layout during a lecture

26

Yamaha Corporation

Promoting a Better
Work-Life Balance

A Study Group on Employing
People with Disabilities

The Yamaha Group has continued to actively seeklabor−management cooperation to promote a better
work-life balance. In this manner, the Group strives
to realize corporate growth in concert with a fuller
life for all employees.
It is endeavoring to reduce working hours andimplement and improve work-family support
systems for the variety of circumstances
encountered by individual employees. From 2012,
Work-Life Balance Action Plans were developed foreach department to achieve more efficient
work-styles.
In order to disseminate an abundance of
information on these initiatives, Yamaha has beenrunning an Intranet website relating to diversity andwork-life balance since fiscal 2008. By serving as aforum through which information can be distributedand shared, the site provides support for all types of
employees to enhance their working and private lives,allowing them to work in an active and lively manner.

Yamaha Corporation established a special subsidiary*in 1989, Yamaha Ai Works Co., Ltd. (YAW), topromote the employment of people with disabilities
as well as the development of comfortable working
conditions. As of March 1, 2016, 87 people withdisabilities were employed at Yamaha Corporation, of
which 43 were employed at Yamaha Ai Works.
In fiscal 2016, the Yamaha Ai Works hosted astudy group on December 3 to coincide with
International Day of People with Disabilities. Spanningtwo days beginning December 3, 2015, the event
gave Group employees an opportunity to take a tourof the company’s office, participate in a study groupon employment of people with disabilities and takepart in a selling session attended by the welfare
office. During the study group, a representative from
Yamaha Ai Works provided an explanation regarding
the various laws concerning employment of people
with disabilities and related Yamaha Group initiatives,touched upon the Act for Eliminating Discrimination
against Persons with Disabilities enforced in April
2016 and discussed how to eliminate discrimination
together with the participating employees.

Participants touring the workplace

An Intranet website disseminating information on
diversity and work-life balance* Subsidiaries recognized under the Act for Eliminating Discrimination
against Persons with Disabilities
People with disabilities employed by such subsidiaries are counted as
employees of the parent company when calculating its employment ratio.

Assisting Women's Careers

Work Safety and Health

The Yamaha Group promotes diversity management
using the common activity policy of leveraging thediversity of employees to increase corporate
competitiveness, and has introduced an action plan
to promote diversity management at all YamahaGroup companies in Japan for the three-year period
from fiscal 2017−2019.
Yamaha Corporation has continued to promotewomen's career development since 2004. In March
2016 Yamaha pressed forward with promoting
women in the workplace by formulating an action
plan based on the Act to Promote Women in the
Workplace and made efforts to raise awareness of
this within the company and externally.

In 2009, the Yamaha Group created the Group
Health and Safety Management Policies and aims toenhance the level of health and safety throughongoing companywide initiatives.
However, as early as 1977, Yamaha Corporation
had begun gradually establishing rules relating topeople and their surroundings, such as employees’
attitudes towards health and safety, basic codes ofconduct and equipment safety standards. These
have been compiled into handbooks, portable cards,
etc. and distributed to employees. With the aim ofpolishing these rules further and standardizing themthroughout the entire Yamaha Group, we conducteda large-scale review in fiscal 2016. We are compilingnew rules in multiple languages and promoting
awareness and implementation.

A more detailed report on a wider range of topics is given on the Yamaha website.

https://www.yamaha.com/en/csr/human_rights_and_labor_practices/
CSR Report 201627

Annual Activities Report

The Environment
The Yamaha Group operates the Yamaha Environment Management System based on the
Yamaha Group Environmental Policy. This involves first assessing the impact of ourbusiness activities on the environment and then endeavoring to reduce the environmentalload of these, along with that of our products and services, and developing technologies
that contribute to the environment.
Strategic CSR Themes•Development of products and services with a focus on social issues (environmentally friendly products, etc.)•Lowering of greenhouse gas emissions (emission management that expands the scope of emissions throughout
the entire supply chain, etc.)
Sustainable procurement of timber (stringent verification of traceability and lawfulness, expanded use of certified
timber, etc.)

Establishment of the Yamaha
Eco-Products Program
In order to create a sustainable society, the YamahaGroup promotes the manufacture of environmentallyfriendly products based on the Yamaha Group
Environmental Policy.
The Yamaha Eco-Products Program waslaunched in 2015 as a means of promoting thisinitiative and is aimed at certifying environmentallyfriendly products consistent with our independently
established standards.
A Yamaha Eco-Label is affixed to those
products meeting our environmental standards, thus
certifying them as Yamaha Eco-Products. Our
objective is to provide straightforward information on
our environmental efforts and support ourcustomers in the decision-making process whenselecting a product.
For details on the program, please see:https://www.yamaha.com/en/csr/
guideline-eco-products/

Yamaha Eco-Label

Yamaha Certification Standards
Must achieve at least one of the following:•Remarkable improvement*1 in environmental
performance*2 compared to the base year*3 ratio or
benchmark value*4 ratio•Specifications reflect industry-leading (quantitative)
environmental performance for the same type of
product.
•Specifications reflect excellent (qualitative)
environmental performance not generally found in thesame type of product in the industry.
•Product has received third-party certification or anaward for eco-design.
*1 An improvement effect of 20% or more can be confirmed.
*2 Environmental efficiency (product performance/environmentalload) is acceptable*3 Retroactive within five years of application date
*4 Basically, each type of standard value, guideline value andself-standard value, etc.

Examples of certified products

MA2030/PA2030
PA power amplifiers
Grounds for certification:
Energy-saving, compact andlightweight(Photo: MA2030)

MA2120/PA2120
PA power amplifiers
Grounds for certification: Energy-saving(conforms with ENERGY STAR)(Photo: MA2120)

Feedback from a Yamaha Representative

We are accelerating the development of Eco-Products andthe dissemination of their information.
Yamaha has engaged in initiatives such as improving the energy-saving and resource-saving
performance of products, switching to low environmental-load materials and developing
substitute materials for rare timber. By clarifying environmentally friendly criteria and goals within
the Yamaha Eco-Products Program, we have strengthened our efforts to promote
eco-conscious activities even further. In addition to sharing such information on our website, we
also affix a Yamaha Eco-Products label to certified products to keep our customers informed.
Moreover, internally the Eco Design Working Group plays a central role in raisingawareness of the program, streamlining the certification process and other related activities.

28

Yamaha Corporation

Quality Planning Group
Quality Assurance Division
Yamaha Corporation

Investigating the Sustainable Useof Timber Resources

Water Conservation Initiatives at a
Yamaha Group Factory in China

As stipulated in the Yamaha Timber Procurement andUsage Guidelines, Yamaha promotes responsible
timber procurement and has incorporated policies
including sustainable timber procurement in the
Yamaha Supplier CSR Code of Conduct. In accordancewith these documents, we investigate the timber tobe procured and place emphasis on more stringent
verification through traceability and adherence to laws.
In fiscal 2016, Yamaha conducted aninvestigation to confirm the amount of AfricanBlackwood (Dalbergia melanoxylon, commonly known
as granadilla), a rare wood used in woodwind
instruments such as the clarinet, as well as the statusof forestry management by actually visiting the United
Republic of Tanzania, where the timber is procured.
As part of a program run by the Forestry Agency,
Yamaha was able to visit and investigate an
FSC-certified forest* run by the community,
experimental plantations, companies that process anddistribute the wood, etc. Based on its investigations,
Yamaha is exploring thefeasibility of a businessmodel that supports local
sustainable forestry
management and thesustainable use of AfricanBlackwood.

In 2010, in line with the relocation of Xiaoshan YamahaMusical Instrument Co., Ltd., which manufactures
wind instruments and percussion instruments, a
newly installed state-of-the-art wastewater treatment
facility was introduced, and as a result, around 80% of
the wastewater is now being reused for
manufacturing processes. This is just one example ofthe company’s efforts to reduce the consumption ofwater and effectively utilize water resources.
In January 2015, a change was made to thecooling method for the annealing furnaces used forheat treating the copper tube components of wind
instruments. The new cooling method uses acirculating water supply. This has halved the amountof water used for cooling and minimized energy cost.

* FSC-certified forests are believed
to be guaranteed as having
sustainable forestry
management as certification isreceived after auditing by athird-party organization.

The Blakiston fish owl* is a species of bird the Wild
Bird Society of Japan is endeavoring to protect, andYamaha’s Digital Audio Recorder, POCKETRAK, hasplayed a key role in a habitat survey of the owl
conducted by the Society.
A new type of bird call became known for the
first time as a result of using POCKETRAK. Moreover,
the technology enabled the survey to be conducted in
multiple locations, which resulted in identifying of the
owl’s home range, and ultimately led to a newconservation agreement being signed in 2015. Using
POCKETRAK’s timer-based automatic recording
function, it has become possible to attract birds safely
across a broader area and for a longer duration thanpossible when the task was performed manually byhumans. The Yamaha Group will continue to cooperateproactively in initiatives to protect biodiversity.

Ecological survey of African Blackwood

Initiatives to Reduce CO2 in the
Entire Value Chain
As part of its measures to counter global warming, theYamaha Group has worked to reduce its greenhousegas emissions through the use of optimal production
methods and equipment configuration, improvements
to how air conditioning equipment is operated,installation of equipment with high energy efficiency,
and extensive energy management, including
adjustments to facility operating hours and thermostat
settings. The Group has also introduced cogeneration
systems and converted to more environmentallyfriendly fuel sources.
We focus our strengths on creating designs
specifically tailored to the characteristics of a productin order to minimize energy consumption at eachphase, including material procurement, product usage
and disposal. We also take part in other initiatives thatconsider the overall value chain, including savingenergy during distribution.

Cooling unit using circulated water

Yamaha’s Digital Audio Recorder
Contributing to Protection of the
Blakiston Fish Owl* A critically endangered avian species said to have the greatest risk ofextinction. The bird is found only in eastern Hokkaido and is believed tohave a population of around 50 pairs and 140 birds.

(Left) Blakiston fish owl (Right) POCKETRAK used in surveys
Photos provided by the Wild Bird Society of Japan

A more detailed report on a wider range of topics is given on the Yamaha website.

https://www.yamaha.com/en/csr/environment/
CSR Report 201629

Annual Activities Report

Fair Operating Practices
The Yamaha Group is committed to fair operating practices that comply with laws,
regulations and social norms.
Based on the Yamaha Compliance Code of Conduct, Yamaha complies with therelevant laws, regulations and social norms at the same time as promoting CSR in its
supplier chain by requesting the cooperation of suppliers.
Strategic CSR Theme•Socially responsible procurement (by confirming adherence to the Yamaha Supplier CSR Code of Conduct andmaking requests for improvements when necessary, etc.)

CSR Procurement Seminars

Survey Completed by Suppliers

The Yamaha Group promotes training for its
employees in charge of procurement relating to fairtrade, such as the Act against Delay in Payment of
Subcontract Proceeds, etc., to Subcontractors,
Worker Dispatching Act, information security andprotection of personal information. In particular, we
focus on our employers who request suppliers toadhere to the Yamaha Supplier CSR Code of
Conduct and conduct self-inspections to encourage
their understanding of CSR procurement.
In fiscal 2016, we held seminars in 12 bases
across Japan (7) and overseas (5). A total of 128
procurement-related personnel participated. Various
issues were discussed, such as the backgroundbehind CSR procurement requirements, Yamaha’s
policies, the Supplier CSR Code of Conduct andself-inspections.

In March 2015, we established the Yamaha Supplier
CSR Code of Conduct, which documents thecontent of Yamaha’s CSR-related requests to
suppliers in writing. This was distributed to 2,900
suppliers in fiscal 2016 and they were requested toadhere to its provisions and conduct self-inspections.
In addition, we requested 1,439 Tier 1 suppliers ofmusical instruments and audio products with
manufacturing bases in Japan to complete aquestionnaire-style self-inspection.
We had received responses from 1,394
companies as of March 31, 2016 and will request
improvements to be made based on the results.

Yamaha Supplier CSR Code of Conduct

A CSR procurement seminar in China

Feedback from a Yamaha Representative

Promoting CSR Together with Suppliers
Yamaha produces a diverse range of products, including acoustic and electronic musicalinstruments, AV equipment, professional audio equipment, electronic components andgolf goods. We also have many suppliers from which we procure a vast range of raw
materials and components, including natural resources such as timber. We are deeply
grateful towards our suppliers for their cooperative stance in adhering to the Yamaha
Supplier CSR Code of Conduct and conducting CSR self-inspections. This kind of activity,
coupled with day-to-day communication, helps to deepen the relationship of trust with
our suppliers and contribute to the creation of a sustainable society across the entire
supply chain.

30

Yamaha Corporation

Procurement Administration
Section
Production Engineering &Procurement Department
Yamaha Corporation

Legal Training Relating to Fair
Competition
In order to enforce fair trade practices in line with laws
and social norms, including preventing abuse of adominant bargaining position, Yamaha has worked
diligently to educate employees and raise awareness.
In fiscal 2016, Yamaha held training on
consumer-related laws including the Act Against Delayin Payment of Subcontract Proceeds, etc. to
Subcontractors (Subcontract Act), the Antimonopoly Act
and the Act Against Unjustifiable Premiums andMisleading Representations. A total of 357 employees
from domestic group companies participated. In addition
to this, legal training was held exclusively for YamahaMusic Entertainment Holdings, whose main business issoftware, which differs from the manufacturing industry.
Moreover, within a personnel development
program suited to career stages, we disseminate
knowledge regarding compliance points specificallyrelating to fair trade. Approximately 500 employees
participate in the program each year.
In Japan, Yamaha has many business transactions
with subcontractors, particularly in the manufacturing
field. Accordingly, fair trade is an important theme. In
regards to the Act Against Delay in Payment of
Subcontract Proceeds, etc. to Subcontractors(Subcontract Act), we distribute the summary of ourannual Seminar on the Promotion of Appropriate Tradewith Subcontractors to domestic group companies forthe purpose of creating a better understanding of theitems we must comply with and ensure awareness.

Legal training

Interviews Regarding the Promotionof Compliance at IndonesianGroup Companies
The Yamaha Group sells musical instruments and audio
equipment to educational institutions and operators of
public venues, and as such frequently participates intenders. Moreover, in countries where specificbusiness activities require approval from government
bodies, we are required to negotiate with such parties.
Yamaha is aware that the risk of gift-giving is high inbusiness activities and countries such as these and isengaging in efforts as a response to this risk.
In regards to specific regions, Yamaha particularly
focuses its efforts on the BRICs countries, which rank
high in the corruption perception index run byTransparency International, an NGO for the preventionof corruption, and Indonesia, where the Yamaha Grouphas five manufacturing bases and one distributor. As
such, Yamaha conducted interviews to assess thestatus of promoting compliance at each of thecompanies in fiscal 2016. Together with each company,
we confirmed that the internal consultation desk forcompliance issues is functioning and that systems arein place to enable employees to consult with law firms
if an issue arises.

Named a Thomson Reuters“2015 Top 100 Global Innovators”
Since its founding, Yamaha has been proactively
working to acquire intellectual property rights suchas patents while simultaneously respecting theintellectual property rights of third parties. Yamaha
Corporation centrally manages the intellectual
property of all companies in the Group and promotes
activities to unify business strategy, research anddevelopment strategy and intellectual property
strategy. Yamaha also provides its employees witheducational opportunities such as by holding annual
seminars relating to copyrights.
Following on from the previous year, in 2015,
Yamaha Corporation was once again named aThomson Reuters "2015 Top 100 Global Innovators"
based on high appraisal of its intellectual property
activities in Japan and overseas. This is the thirdtime to this honor after achieving the same status in2011 and 2014.

“2015 TOP 100 GLOBAL INNOVATORS” logo

A more detailed report on a wider range of topics is given on the Yamaha website.

https://www.yamaha.com/en/csr/fair_practices/
CSR Report 201631

Annual Activities Report

Consumer Issues
In order to meet customer expectations, the Yamaha Group strives to ensure theproduction of high-quality products, the provision of high-quality services, and thecomprehensive disclosure of information on products and services.
In addition, we actively propose products and services for solving social issues,
including the introduction of universal design.
Strategic CSR Theme•Development of products and services with a focus on social issues (universal design, environmentally friendly
products, application of sound technologies, etc.)

Promoting Universal Design
The Yamaha Group is keen to create an environment
in which all people can enjoy the pleasures of music.
With this in mind, we are proposing initiatives thattake full advantage of the power and strength ofmusic to help realize a society that is both rich incommunication and that allows people of diverse
backgrounds and attributes to live comfortably andharmoniously.
In fiscal 2016, two seminars for employees
were held in order to give employees a better
understanding and greater awareness of universal
design.
In October 2015, an in-house seminar for
employees of the Design, Development andMarketing divisions was held at the head office of
Yamaha Corporation. During the seminar, theprevious and current status of promoting Yamaha’s
universal design was explained using examples of
how it is introduced in products. This was followed
by a discussion of the companies that aredeveloping advanced universal design products.

Display of products utilizing universal design

Additionally, in February 2016 an in-house seminar
was held on the Strategic CSR Theme “Developing
Products and Services that Address Issues Facing
Society,” and approximately 250 employees fromthe Yamaha Group participated. We invited Mr.
Manabu Akaike, a director at the Universal Design
Research Institute, to talk about helping to solve
social issues and creating business products andservices.

Product Examples Utilizing
Universal Design
Yamaha Corporation’s Clavinova CLP Series of digital
pianos received the “Incentive Award: Kids Design
Council Chairman’s Award” at the 9th Kids DesignAward. Its safety aspect when used by children was
well-praised.
Other pianos in the Clavinova Series include the
CVP-609/605 (launched into the market in 2013),
which features a touch panel for easy access and avoice guide system for players who are visually
impaired.

CLP-585, top model in the CLP Series“Kids Design Award 2015” logo

Seminar for the employees with guest speaker Mr. Akaike

32

Yamaha Corporation

Supporting “Geidai 21: Geidai Arts
Special 2015 — Disability & Arts”

Business Based on a Customer-Oriented
ApproachSince October 2015, Yamaha Corporation has been
participating in “The COI Site, Tokyo University of theArts.” This is part of the Center of Innovation Scienceand Technology-based Radical Innovation and
Entrepreneurship Program (COI STREAM) —a programof the Ministry of Education, Culture, Sports, Scienceand Technology, Japan, and Japan Science andTechnology Agency. In December 2015, as an initiative
to seek music representation in spite of disability,
Yamaha Corporation provided its products andtechnology for the event, “Geidai 21: Geidai Arts Special
2015 – Disability & Arts*,” held at the Ueno campus ofTokyo University of the Arts. We provided a productequipped with an auto playback function to showcase
Yamaha’s performance alignment technology which
helped disabled players with their performances.

From fiscal 2015, employees at each workplace began
holding discussions in “Quality Month,” which is every
November, and set goal so that they will conductbusiness utilizing a customer-oriented approach that
follows the PDCA cycle.
Focusing mainly on our musical instrument andaudio divisions, customers’ comments are distributedand shared by e-mail, company magazines and theIntranet. Our aim is to nurture an organizational culturethat utilizes a customer-oriented approach and focuseson each customer’s evaluations and requests.

*Sponsored by the Tokyo University of the Arts/Performing Arts Center of theTokyo University of the Arts/The COI Site of the Tokyo University of the Arts

Yamaha Fine Technologies Co., Ltd. (YFT) developed
the YHLD-100, a highly efficient hydrogen leakdetector, for inspection processes. Sales commenced.
Hydrogen is used as an energy source, such as infuel cells, and is also used for treatments and analysis
in the medical field. Additionally, previous leakage
inspections suggest that a countermeasure isnecessary to resolve mainstream helium gas depletion.
The YHLD-100 hydrogen leak detector has a
micro-electromechanical system (MEMS) hydrogensensor developed by YFT, enabling it to provide
high-speed response and high sensitivity over a wide,
dynamic range. It is also capable of supporting a variety
of situations and leakage quantities, and is equippedwith an interactive mode and simple design that makeit easy for anyone to use.

Play withright hand

3. Piano sound(left-hand part)
Following
performancesystem
1. Right-handplaying data (MIDI)
2. Alignment/
Generation

DisklavierTM system and how it supports performances

Performancedata

Strengthening Quality Assurance andAfter-Sales Management Systems
Yamaha Corporation created a system for quality
assurance and after-sales management and is working
continuously to strengthen such management for theGroup as a whole.
In order to provide standardized high-quality
after-sales support to customers around the world, inJanuary 2015 the Yamaha Group established theAfter-sales Service Management Policy, which outlines
the basics of after-sales services that need to be sharedin the Group.
For the purpose of strengthening quality
management governance in the Yamaha Group, thesystem was revised as of January 1, 2016. The revised
system regulates all quality information of each groupcompany, which is submitted to Yamaha Corporation’s
Quality Assurance Division. It also clarifies therequirements of the quality management system to be
set in each group company.
Yamaha Group will continue to provide valuable
products and services to build a strong relationship oftrust with its customers.

Development of High-Speed,
High-Sensitivity, Wide-Range
Hydrogen Leak Detector

YHLD-100 hydrogen leak detector

A more detailed report on a wider range of topics is given on the Yamaha website.

https://www.yamaha.com/en/csr/consumer/
CSR Report 201633

Annual Activities Report

Community Involvement andDevelopment
The Yamaha Group pursues a diverse range of activities to promote and encourage theculture of music throughout the world.
We continue to focus on efforts that contribute to communities where we have bases inJapan and overseas. We provide support that helps to foster future generations, participate
in donation drives and social welfare activities.
Strategic CSR Theme•Development of regional community-based business and social contribution activities (resolution of regional issues
through music, contribution to the development of regional communities, etc.)

New Proposal for Music Lessons
Utilizing Information andCommunications Technologies (ICT)The Ministry of Education, Culture, Sports, Scienceand Technology of Japan has set a target for a tablet
terminal to be available for every student in schools
by the end of 2020. Today, utilizing ICT in theclassroom is crucial. Therefore as a Smart Education
System (SES) project, Yamaha is continuing its
development research while carrying out
demonstration experiments in schools to create
more effective and fun music lessons utilizing ICT.
As the utilization of ICT grows in classrooms,
distance learning is being proposed more frequently.

Distance learning is capable of bringing classes ofdifferent schools in the same city together, supporting
meetings between sister schools, and providing
collaborative classes in under-populated areas with ashortage of specialized teachers. As the Ministry of
Education, Culture, Sports, Science and Technology ofJapan recognizes distance learning programs andgrants accreditation in high schools, more forms of
distance learning programs are expected to be offeredin the future. Yamaha Corporation promotes, in
corporation with each prefecture’s Board of
Education, education institutions and othercompanies, the use of sound communication devices,such as speakerphones for distance meetings.

Distance learning – Celebrating
40 years of ICT education at
schools in Tsukuba City
Elementary and junior high school
education and research tournament
using ICT to change learning in the
21st century
Lesson with a classic guitar and digital teaching materials
Playing the guitar while looking at the digital screen showing finger
movement together with sound.

Making a class song using“iVOCALOID”
Making a class song using an iOS app“iVOCALOID” that helps arrange
sounds creatively into a composition.

Distance learning for English
conversation class
English conversation class using atablet terminal and remote teachingsystemFeedback from a Yamaha Representative

Lessons Utilizing ICT to Give Children a Sense of Excitement
The image of Yamaha in classrooms is educational music instruments such as pianos,
recorders, and the Pianica™. We therefore believe that our primary mission and overallsocial responsibility is to create a new system of learning as ICT is utilized more inclassrooms. In order for as many children as possible to know how much fun music andplaying instruments can be by using Yamaha’s digital educational instruments andequipment in classrooms, we plan to keep on providing new ways of learning that will
give teachers and students a continued sense of excitement.

34

Yamaha Corporation

SES Development GroupNew Business Development
Department
Research & Development
Division, Technology Unit
Yamaha Corporation

Work Training for New High School
Graduates

Yamaha Supports Nutrition
Improvement in Rural Areas

The Yamaha Group accepts requests from regional
educational facilities of the world and supports theeducation of junior high and high school students.
For example, Yamaha Musical Products
Indonesia (YMPI) offers vocational training to newhigh school graduates. This project was created in
response to requests by high schools and thegovernment of Indonesia to help solve the issue of
educating students before starting to work insociety. In the company’s training facility, lectures
are offered on basic factory operations,
understanding what it means to be a member ofsociety. Lectures equivalent to those for training
Yamaha employees receive high praise from thegovernment and high schools as well.

In August 2015, Yamaha de Mexico (YDM), in
collaboration with NPO World Vision, planted fourorchards and made two backyard gardens in rural
areas where help for nutrition is in need. The
produce harvested is planned to support nutrition
improvement for approximately 100 local residents.
During the process of planting the orchards andmaking the backyard gardens, YDM employees
planted seedlings and instructed the residents how
to plant crops and harvest produce. Moreover, thechildren were provided with some snacks and toys.
YDM will continue to develop regional
community-based activities.

YDM employees planting orchards
and making backyard farms

During the work experience at YMPI

Accepting Students for Internships
Overseas
In fiscal 2016, Hangzhou Yamaha Musical Instruments
Co., Ltd. and Yamaha Music (Asia) Pte Ltd. (Singapore)
accepted high school students from Shizuoka
Prefecture, Japan, as part of promoting an international
internship program sponsored by the Shizuoka
Prefecture Education Committee. This was to provide
an opportunity for high school students, who hoped tofind employment in the future, to have work
experience in the overseas factory of a global
company. The purpose was to create enthusiasm
among the students to want to work in the prefecture.
The students participated in a factory tour, as
part of domestic training offered at Yamaha
Corporation’s piano factory in Kakegawa, followed
by a four-day work experience overseas.

High school students of the international internship program.
(Left: In China; Right: In Singapore)

Snacks and toys were given to
the children.

Donation of Musical Instruments
for the Children of Migrant Farmers
Yamaha Music & Electronics (China) Co., Ltd. (YMEC)
and four of its local manufacturing companies began
donating instruments to schools for the children of
migrant farmers all over China in fiscal 2013. This is afive-year project to show gratitude toward local areas
for the development of business in China.
As of fiscal 2013, the activity had been carriedout a total of eight times in six regions, with theparticipation of 43 schools.
In fiscal 2016, YMEC donated five pianos, 150
portable keyboards, five AV systems, PA equipment andmore to five schools in Hangzhou and other cities. The
company plans to continue these activities by donatingmusical instruments to seven cities in fiscal 2017, withthe objective of strengthening relationships with agentsin local cities and expanding regional contributions.

Donating instruments to schools for the children of migrant farmers

A more detailed report on a wider range of topics is given on the Yamaha website.

https://www.yamaha.com/en/csr/community/
CSR Report 201635

Annual Activity Report

CSR Promotion Plans and Results List
Subject

Key Theme

Results in Fiscal 2016

Plans in Fiscal 2017

CSR Management
PDCA activities to promote CSR
CSR Management·‌Listed CSR promotion conditions (progress management and disclosure)·Developed Strategic CSR Themes·‌Set goals for CSR promotion and manage progress of achievements·Conduct promotion system for Strategic CSR Themes·‌Upgraded CSR website (renewed top page and introduced new Web PDF download
page)·Examine how to improve CSR website usability
Ensuring penetration of CSR throughout·‌Sent information via Intranet (in-house activities, examples of other companies, topics) ·Strengthen distribution of information via the Intranet
the Group·Implemented CSR seminars (products, service themes)·Implement seminars and e-learning·Implemented e-learning for CSR Report
Developing a system that reflects
stakeholders’ input·Confirmed the status of communications with stakeholders·‌Discussed CSR activity results and future direction with experts and NGOs

·Discuss Strategic CSR Themes with experts and NGOs

Reinforcing the corporate governancesystem·Formulated corporate governance policies·‌Maintained/Improved corporate governance system based on the policies·‌Continued appropriate operation of the Board of Directors and the Board of Auditors·‌Maintain/Improve corporate governance system based on the policies·‌Continue appropriate operation of the Board of Directors and the Board
of Auditors

Strengthening internal control·‌Followed up on conformity to policies by thorough monitoring and remedial actions·‌Promote improvements to and strengthening of Group governanceCompliance

Thorough observation of theCompliance Code of Conduct within
the Group·Held periodic Compliance Subcommittee meetings·Total of approximately 300 employees attended legal training programs·Held compliance seminars·Prepared revision of Code of Conduct·Implemented compliance questionnaires·Consultation/Reports to head office Help Line: 26 cases·‌Hold periodic Compliance Subcommittee meetings (four times planned)·Publish revised Code of Conduct

Risk Management

Strengthening the risk management
system·‌Promoted the formation of business contingency plan (BCP) for business recovery; built
entire system/process·‌Promote improvement of workable company-wide risk management·Implemented business infrastructure recovery drill·Promote the formation of BCPs (spread to Group globally)·Formed an emergency contact system

Information Disclosure and IR
Activities

Promoting and expanding IR activities
to enhance understanding of theCompany·Held investor briefings‌(Results briefing (every quarter), Individual investors briefing, Yamaha briefing for
securities company staff, Business briefings for institutional investors/stock analysts)·Upgraded website for investors(Renewed website top page for investors, Published annual report online version, etc.)·Promote communication with investors(Conduct briefing sessions, Expand website for investors, etc.)·Increase feedback of investor opinions to the management teamEngagement with Stakeholders

Organizational GovernanceCorporate Governance

Human Rights and Labor Practices
Promoting of Human Rights
Awareness

Promoting human rights awarenessthroughout the Yamaha Group·Increased employee awareness by distributing information via the Intranet·Introduced research evaluation tool for impact on human rights·Continue to enlighten employees via the Intranet·‌Examine introduction of evaluation tool for impact on human rights

Initiatives Supporting Employee
Human Rights

Promoting measures to prevent
harassment·Promoted education and enlightenment of employees·Maintained appropriate operation of the hotline·Promote education and enlightenment of employees·Maintain appropriate operation of the hotline

Hiring and Employment

Carrying out fair evaluations andtreatment·Promoted fair evaluation and treatment·Improved personnel evaluation systems·Promote fair evaluation and treatment·Introduce new personnel affairs system

Promoting purposeful, targetededucation and training·Examined training systems in conjunction with personnel system reviews·‌Line-management training for introducing new personnel system·‌Streamline training systems in conjunction with personnel systemreviews

Maintaining an environment for
manufacturing and craftsmanship·Reinforced roles of manufacturing bases·‌Ongoing supervisor education (Japan) (advanced skills school, training center, etc.)·‌Implemented management training at overseas production sites and examined next
measures·Ongoing promotion of passing on skills (From-To program, etc.)·Reinforce roles of manufacturing bases·Ongoing supervisor education (Japan) (same as column on left)·Review management training at overseas production sites·Ongoing promotion of passing on skills (From-To program, etc.)

Promoting employee diversity·‌Ongoing promotion of diversity management plans (Japan) (‌maintaining/improving ratio ·‌Ongoing promotion of diversity management plans (Japan) (same ascolumn on left)of women for managerial positions, promoting employment of foreign employees)·Formulated action plan for assisting women’s careers·‌Research at overseas Group companies (ratio of female employees, etc.)

Meeting employment requirementsof society·Promoted employment of diverse human resources (Japan)·‌Promoted employment of people with disabilities and increased ratio of employeeswith disabilities (Japan)·Promote employment of diverse human resources (Japan)·‌Promote employment of people with disabilities and increase ratio of
employees with disabilities (Japan)·‌Review the senior partner system (re-employment system after
retirement)

Promoting a Better Work-Life
Balance

Improving work-life balance·‌Initiatives to reduce working hours (Go Home at the Same Time Day, taking paid leavedays all together, etc.)·Developed and promoted work-life balance support systems·‌Provided employee education and enlightenment (published personal experiences/
explanation of work-life balance support systems on intranet)·‌Initiatives to reduce working hours (same as column on left)·‌Streamline rehiring of employees that retired to care for elders·‌Expand rehiring system for person accompanying family on overseas
assignment·‌Provide employee education and enlightenment (same as column on left)

Communication with Employees

Enhancing communications between
labor and management·‌Set up labor and management meetings and consultations (Joint Management
Council, Company-wide Production and Sales Committee, Branch Office Employer·‌Set up labor and management meetings and consultations (same as
Employee Relationship Committee, Human Resources System Review Meeting,column on left)
Allocation Committee, Work-Life Balance (WLB) Promotion Committee, Overseas Work ·‌Promote labor and management communications in each Group company
Committee, etc.)

Human Resource Development
Initiatives

Promotion of Diversity andInclusion

Health and Safety·Group-wide standardization of rules(Safety and Health Basic Action Standards, Rules of traffic safety card)
Standardizing Group rules and activities ·Distributed revised safety card to employees (Japan)·Promoted activities to anticipate safety (risk assessment activities)(Expanded dissemination to bases in Japan and overseas)·Distribute Group-wide standards
(Expand and thoroughly disseminate by translating into multiple
languages and distributing to overseas sites)·‌Expand activities to promote safety Group-wide (sites not yet included inJapan and overseas)(Risk prediction activities, risk assessment activities)

Maintaining employee health·Promoted mental health care
·Promote mental health care(Implemented education and awareness (sales offices), Introduced support program for(Introduce stress check, Implement education for self-care)
returning to Group workplace)

Establishing environmental
management system·Maintained ISO 14001 certification at each facility·‌Applied Yamaha Environmental Management System (YEMS) throughout the entireGroup·Maintain ISO 14001 certification at each facility·‌Apply Yamaha Environmental Management System (YEMS) throughout
the entire Group

Maintaining environmental
management capabilities·Implemented environmental education according to job and role
·Held seminars for training internal environmental auditors and advanced training·‌Promote environmental education according to job and role·‌Hold training and skill improvement seminars for internal environmental
auditors

The Environment

Environmental Management

36

Environmentally Friendly Products Creating environmentally friendly
and Services
products·‌Sustainment of in-house verification system for environmentally friendly·‌Established internal standards and implemented in-house verification system forproducts
environmentally friendly products·‌Increase in-house verified environmentally friendly products·‌Proactively conveyed information about environmentally friendly products to consumers·‌Calculate and disclose greenhouse gases emitted while using products

Climate Change Mitigation and
Adaption·‌Continued ongoing efforts to reduce greenhouse gas emissions at facilities·Reduced energy consumption per unit at Japan production bases

Reducing greenhouse gas emissions
related to business activities

Yamaha Corporation·‌Group-wide understanding of Scope 1 and 2 regulations regarding
greenhouse gas emissions·Start trial to expand calculation scope (Scope 3)·‌Continue ongoing efforts to reduce greenhouse gas emissions at facilities

Also provided on website.

https://www.yamaha.com/en/csr/csr_management/promotion_plan/

Subject

Key Theme

Results in Fiscal 2016

Plans in Fiscal 2017

The Environment

Prevention of Pollution

Conservation of Water Resources

Conducting thorough environmental
management at manufacturing bases·‌Responded to further reinforcement of regulatory standards at overseas manufacturing
bases·‌Reinforce environmental management at overseas manufacturing bases·Reduced risk by securely enforcing environmental audits and remedial actions·‌Comply with and promote the Environmental Facility Management·‌Developed a road map that conforms with the Environmental Facility Management
Standards for pollution prevention
Standards for pollution prevention

Promoting reduction and recyclingof wastes·Maintained zero emission at Japanese production bases·Completed disposition of large and high-density PCB waste in Japan

Conserving and effectively using water·Promoted water recycling at overseas manufacturing bases
resources·Maintain zero emissions at Japanese production bases·Promote effective use of wastes·‌Start water recycling by introducing new effluent treatment facility in
Chinese factory·‌Promote water recycling at overseas manufacturing bases·Implemented reduction activities based on Chemical Substances Usage Standards·‌Continue reduction activities based on Chemical Substance Usage
Standards (especially for VOCs, activities to use alternative materials andreduce emissions)

Using wood resources appropriately
and effectively·Established items of legality and sustainability in Supplier CSR Code of Conduct·Started to confirm legality and sustainability of procured timber·‌Continue to check the situation of legality and sustainability (restarttimber SAQ)
·Expand to use of certified timber

Promoting forests preservation·Implemented maintenance of planting area in Indonesia (follow-up)·Implemented Enshunada coastal forest recovery·Examine upcoming forest preservation activities·Implement Enshunada coastal forest recovery

Protection of corruption

Trough in preventing corruption andbuilding a deterrence system·‌Created anticorruption commitment form for clients of Yamaha Music Gulf FZE·Local hearing held at affiliate companies in Indonesia·Prepare creation of guidelines·‌Exchange information with Group companies (especially overseas)

Responsible Participation in
Politics

Maintaining transparency with respect ·Consolidated systems for preparatory conferences
to participation in politics·Implemented auditor’s audits·‌Consistently apply systems for conferences, consultations and audits

Fair Trade Practice

Strictly adhering to fair competition and·‌Implemented laws and regulations training for Anti-Monopoly Act, etc. Held a total ofbuilding a deterrent system to eliminate
seven times with 357 participants.
anti-competitive behavior·Create guideline for Anti-Monopoly Act/Competition Law·‌Exchange information with Group companies (including overseas)

Chemical Substance Management Reducing the emission of chemicals
and Reduction
from production processes

Biodiversity Preservation
Initiatives

Fair Operating Practices

Promotion of Social Responsibility Promoting socially responsible
in the Value Chain
procurement·Requested compliance for Yamaha Supplier CSR Code of Conduct·‌Requested implementation of self-check for Code of Conduct (first-tier suppliers of
production bases in Japan)·‌Continue to request compliance to Yamaha Supplier CSR Code of Conduct·‌Request implementation of self-check system for Code of Conduct (firsttier suppliers at production bases overseas)

Respect for Property Rights(Protecting Intellectual Property)·Examined revising the regulations related to employee inventions·‌Researched intellectual property management situation in Group companies·Effectively managed intellectual properties owned by Yamaha·‌Implemented education and enlightenment activities, mainly about copyrights·‌Establish and manage regulations for handling intellectual properties(reinforce Group company structure)·‌Provide employee education and training on the appropriate use of
intellectual properties·‌Effectively manage intellectual properties owned by YamahaManaging and appropriately using
intellectual property

Consumer Issues
Product Information Disclosure

Appropriately disclosing information on·Renewed safety enlightenment information in sales catalogs for schools
the safety of products and services·Periodic review of safety enlightenment information

Ensuring product safety and taking
immediate action when faced with aproduct safety issue·‌Prepared/Examined revision of the standards for enhancing risk assessment
effectiveness·Redefined reporting routes when faced with an important quality problem(revised Group quality management policy)·‌Start to operate and effectively improve new standards for product risk
assessment in development processes

Quality Assurance

Strengthening the quality assurance
system and quality management·Redefined Group-wide quality management system(revised Group-wide quality management policy)·Promoted creation of QMS in affiliated sales companies in Japan·Reviewed quality assurance training system·‌Define quality management requirements and streamline information
to produce a QMS manual for affiliated sales companies and affiliatedoverseas businesses·‌Education in response to ISO 9001 2015 for QMS internal auditors·Re-build quality assurance training system·‌Promote reinforcement of safety management for customers in resort
business

Sustainable Consumption

Contributing to sustainability throughproducts and services·‌Established internal standards and implemented in-house verification system forenvironmentally friendly products·‌Proactively communicated information related to product environmental features to
consumers·‌Sustainment of in-house verification system for environmentally friendly
products·‌Increase in-house verification of environmentally friendly products

Promoting universal design·On-going promotion in Development and Design divisions·Implemented in-house seminar featuring universal design·‌Promote inter-division sharing of universal design and example
applications, etc.

Proposing solutions for issues in society·‌In-house Seminar Held on the Theme “Developing Products and Services that Address
Issues Facing Society”·‌Promote planning and development by including sustainability elements
as quality goals

Improving customer satisfaction withproducts and services·‌Reinforced collection and utilization processes for market and consumer informationin major markets·Promoted fostering the culture of understanding customer orientation·‌Continue to reinforce collection and utilization processes for market andcustomer information in major markets·‌Promote fostering the culture of understanding customer orientation,and expand target division

Initiatives for Improved Customer Initiatives for improved customer
Response and Support
response and support·‌Streamlined manual to thoroughly adhere to Group After-sales Service Management
Policies·Streamlined/Operated global customer support system·Established/Operated after-sales service management system·‌Conducted technical service seminar, maintained and expanded Yamaha after-sales
service network·‌Thoroughly adhere to Group After-sales Service Management Policies
and improve compliance through monitoring·‌Streamline process of creating value in customer relationship

Personal Information Protection(Customer Data and Privacy)·Monitored Yamaha Music Retailing(customer information management status)·‌Review manual including personal information management in
information security framework (examine in information security
working group)

Building good relations with
Connection to Local Communities communities that are home to ouroffices and factories·Held periodic discussions with surrounding communities·Implemented summer festival for local residents at each base·Opened facilities and parking lots to local communities·‌Make ongoing efforts to communicate with communities that are home
to our offices and factories·‌Make ongoing effort to participate in events organized by local
governments and other organizations

Contributing to Regional
Community Development

Helping Regional community
development·Contributed to community revitalization through musical events·‌Expanded programs helping communities that are home to our offices and factories·Continued ongoing support for creating communities through music·‌Contribute to community revitalization through musical events·‌Continue manufacturing classes for children and examine new programs·‌Continue ongoing support for creating communities through music

Promoting Music Culture(Promoting Initiatives throughSound and Music)

Help promote and develop music
culture·Examined/Provided services that are connected to school education·‌Promoted education support activities through music in emerging countries·Provide services that are connected to school education·‌Promote education support activities through music in emerging countries

Donations and Social Welfare
Activities·‌Promoted employee volunteer activities (provided opportunities and proactively sent
Promoting donations and social welfare information via the Intranet)
activities·Promoted regional welfare activities·Supported areas affected by disaster

Ensuring Product Safety

Enhancing Products and Services

Improving Customer Satisfaction

Preventing accidents by managing thepersonal information of customers

Community Involvement and Development·‌Expand activities that help to foster employees’ voluntary spirit·‌Support areas affected by disaster and examine ways to support them

CSR Report 201637

Editorial Policy

In principle, the Yamaha CSR Report comprises YamahaGroup companies (Yamaha Corporation and its 67
consolidated subsidiaries in Japan and overseas). Certain
sections of the report, however, such as those containing
detailed numerical data, have specific targets.

Reporting Period
April 1, 2015 to March 31, 2016
* The above period is referred to as fiscal 2016 in this report. In the English version,
the fiscal year written is based on the year ending March 31 of the year reported.
* Certain initiatives underway prior to March 2015 and information from April 2016
onward are also included in this report.

Date of Issue
Report Published: September 9, 2016
Previous Report Published: August 28, 2015
Next Report to Be Published: September 2017

For Information Regarding the CSR Report
CSR Group
General Administration Division
Yamaha Corporation
INTL: +81-53-460-2071

Since publishing the first report,
we have given priority to
information that, based on
ongoing dialogue withstakeholders, is of the greatest
interest to them. Starting in 2009,
we have taken a two-pronged
approach, posting detailed
information and a variety of dataon the Yamaha website (fullreport) and presenting key points
more concisely in a printed report(digest edition) to make content
easier to read and understand.

Booklet ReportSocietal Expectations

Organizations Included in the Scope of Reporting

Regarding Report Media
LargerThe Yamaha Group began issuing a CSR Report tocommunicate its CSR vision and initiatives to theGroup’s broad stakeholder base. To enhancetransparency and make the report as easy tounderstand as possible, in 2014, we reorganized it
to reflect ISO 26000, which provides guidelines forsocial responsibility. In preparing the report, wereferenced ISO 26000 and “Environmental
Reporting Guidelines (2012 Version)” of the Ministryof the Environment, Japan.

Website Report

Yamaha Group Responsibilities Larger

CSR Report (digest edition)
This report outlines the YamahaGroup’s approach to CSR and CSR
activities considered top priority. The
2016 edition comprehensively reports
our CSR activities, highlighting those inwhich we have made notable progressover the last fiscal year.

CSR Report (full report, update scheduled for September 2016)

https://www.yamaha.com/en/csr/
The Yamaha website features the full
CSR Report, which presents a wide
range of topics in detail, as well as thecontent of the booklet. In response to
the issuance of “Sustainability
Reporting Guidelines (v. 4.0)” of the
Global Reporting Initiative (GRI), thisreport contains Standard Disclosuresfrom the GRI Sustainability Reporting
Guidelines.
By presenting the latest CSR
topics on our website we are able keep
stakeholders up to date on issues inwhich they are most interested.

Environmental performancedata can be seen at:https://www.yamaha.com/en/csr/environment/environmental_data/

Chivas Regal 18-year Gold Signature Awards 2016
Presented by GOETHE
Takuya Nakata, the president and representative director of
Yamaha Corporation, received an award in the Corporate Value
Development Division for the Chivas Regal 18 Gold SignatureAwards 2016 Presented by GOETHE. Since 2011, Chivas Regal(the Scottish whiskey brand) and GOETHE (a magazine) havebeen jointly presenting these awards to “business leaders whomake contributions to society and help to vitalize it through theresults of their main business.”

38

Yamaha Corporation

Presentation ceremony (President Nakata is fourth from left)
Photograph by Takuya Suzuki

Third-party Opinion
The Yamaha Group is globally promoting various measures in support of CSR issues. To enable future
improvements, we received feedback on our CSR activities and CSR Report from Mr. Hidemi Tomita. The
Yamaha Group earnestly listens to and acts on the opinions and issues pointed out, and will continue tocontribute to the development of a sustainable society through its business activities that focus mainly onsound and music.

GRI Global Sustainability
Standards Board (GSSB)Member, and Senior Project
Principal, Lloyd's Register
Quality Assurance Limited

Regarding the content disclosed in Yamaha’s CSR
Report 2016, I state my opinions from the standpoint ofa specialist focusing on sections that I consider to be ofparticular importance. I hope the comments will be used
as a reference for further improving Yamaha’s CSR
management and information disclosure.
Policy and Management
Yamaha has introduced its new medium-term
management plan, “NEXT STAGE 12,” andsimultaneously set new strategic CSR themes as part ofits CSR management. I believe that it is a significant
step for Yamaha CSR to clarify its ESG businesschallenges in the medium-term management plan andembark on CSR with the new policy. As the next step, I
expect continuous management involvement to achievebusiness objectives by positioning CSR in the corporate
governance system and management review process.
Relevance to Yamaha Business
Disclosure aligned with the core subjects of ISO 26000
in this CSR report is easy to understand and reasonable.
Although various initiatives for each issue are mentioned
in this report, the relevance of each issue to Yamaha’s
different types of business such as musical instruments,
acoustic and electronic components is not so clear. It isnecessary to clarify what sort of impact on human rights
or the environment is caused throughout Yamaha’sbusiness value chain, and what the interests of the
stakeholders are. By doing so, it will become more
apparent what types of risks are involved and the issues
that need to be addressed in Yamaha’s various businessactivities. Consequently, it will contribute to thestakeholders’ understanding of Yamaha’s CSR activities.
Disclosure of Data and Information
With personnel-related information, the disclosure ofquantitative data is satisfactory. Additionally, claims or
violations of legislation, if any, are clearly stated. Suchtransparent disclosure based on international guidelines
is highly regarded.
On the other hand, there is an issue regarding thedisclosure of environment-related data, including climatechange, which is regarded as one of the strategic CSR
themes. For instance, concerning greenhouse gas
emissions, it is crucial to provide data in comparable
forms based upon the GHG Protocol, which is theinternational standard, for investors and stakeholders.
Promoting Diversity and a Work-Life Balance
The CSR measures and information disclosure are
becoming more substantial; however, the issues of
employing female workers and working hours do notseem to be leading to satisfactory results. It would be
helpful to analyze the reasons for these results andexplain how to improve them in the future.
Sustainable Procurement
In recent years, CSR in the supply chain has become avery important issue internationally. Yamaha prepared
the Yamaha Supplier CSR Code of Conduct, including
promoting sustainable timber procurement. It seems to
be an extremely appropriate action from the perspectiveof Yamaha since timber procurement is a high priority inthe musical instruments business. I expect full
disclosure of the progress, including quantitative
information and continuous actions in the future.

CSR Report 201639

Cover photos: (top: left to right) Brass Jamboree 2016, Shibuya Zunchaka!;(bottom: left to right) Music Time Program (Malaysia),
Music Time Program (Indonesia)

General Administration Division
CSR Group
URL:
https://www.yamaha.com/en
Cover photos:(top: left to right) Brass Jamboree 2016, Shibuya Zunchaka!;(bottom: left to right) Music Time Program (Malaysia),
Music Time Program (Indonesia)

Yamaha is a signatory of the United Nations Global Compact.

This report uses a waterless printing method. Printing is undertaken utilizing vegetable oil inks free ofvolatile organic compounds on FSC-certified
Yamaha is apaper.
signatory of the United Nations Global Compact.

2016.9