The Yamaha Group aims to achieve a high level of compliance management not only by conforming with laws and regulations, but also through adherence to social norms and corporate ethics.
Compliance Oriented Management
The Yamaha Group began in earnest to implement compliance activities in Japan in 2003 with the establishment of the Compliance Committee, chaired initially by the Company's chairman and thereafter by the president and representative director. At the same time, steps were taken to put in place the Compliance Code of Conduct.
Since June 2010, the Compliance Subcommittee has been aiming to implement more dynamic activities as the Working Group for Compliance under the Risk Management Committee following reorganization of the Corporate Governance Committees. A secretariat for this Subcommittee has been established in the Human Resources and General Administration Division. While collaborating closely with each department, the subcommittee is promoting Group-wide cross-sectional compliance.
Compliance Code of Conduct
The Yamaha Group formulated the Compliance Code of Conduct in 2003 and since then has made revisions and produced versions in foreign languages in line with changes to the business environment and social conditions.
Additions were made to the Compliance Code of Conduct in fiscal 2006 in line with global business expansion, including an article regarding the prohibition of forced and child labor, and other information essential for Group companies with overseas business interests. Taking into consideration revisions to various laws and regulations in five-year blocks since 2006 as well as changes in social conditions, the Yamaha Group revised the Japanese version of its Compliance Code of Conduct in April 2011. Detailed explanations were added covering such items as revisions to consumer, antitrust and labor legislation, changes to expectations in companies held by society and the general increase, society-wide, in whistle-blowing.
The Yamaha Group has formulated respective codes of conduct for 28 overseas companies that take into consideration local laws and regulations and are based on the Japanese version in order to promote compliance with a consistent philosophy and rules across the board worldwide. A code is currently being prepared for two companies that were recently established. Since fiscal 2012, the Yamaha Group has been revising local versions of the Compliance Code of Conduct to reflect changes in each region and in consideration of revisions made to the Japanese version. The revisions are made with the assistance of local outside experts who confirm content.
Versions of the Code of Conduct for Group companies overseas
Initiatives in Promoting Compliance
(1)Distributed and promoted third edition of Compliance Code of Conduct (revised in April 2011)
In order to spread awareness of the revised Code of Conduct, the secretariat first held briefings 30 times for approximately 800 managers responsible for each division and company. These managers then acted as facilitators at workplace briefings to pass on the information. Around 10,000 people took part in the briefings at respective workplaces between May and December 2011, which covered almost all domestic Group company employees. In fiscal 2012, an internal survey was conducted to confirm the penetration of the revised version of the Code of Conduct and boost awareness.
(2)Promoted October as Month to Bolster Compliance
The Yamaha Group has designated October as the month to bolster compliance every year in line with Keidanren's Corporate Ethics Promotion Month, and is working on initiatives to heighten awareness of compliance. In fiscal 2012, we introduced posters in each workplace to increase awareness of compliance and risk around us and at the same time notified employees in advance of the compliance-related survey that was touched on in (1) above.
Results from Operation of Compliance Hotline (April 2012 to March 2013)
Yamaha set up and started operating a hotline in April 2003 to provide consultation and take internal reports related to compliance-related matters. In order to make the hotline easier to use, Yamaha is spreading awareness internally through such means as monthly posters emphasizing compliance, surveys and training. Hotline operating regulations have been formulated with provisions that concern the non-disclosure of information regarding the reporter and prohibition of unfair treatment. From April 2012 to the end of March 2013, the hotline was contacted on 39 occasions, representing a decrease of 18 over the previous fiscal year. Over the 10-year period since the hotline was established, it has received a cumulative total of 482 calls.
The Status of Calls to the Compliance Hotline