Prevention of Corruption

The Yamaha Group is well aware of the fact that corruption impedes healthy economic activity and is detrimental to the sustainability of society. Accordingly, the Group has endorsed the United Nations (UN) Global Compact, which sets out principles pertaining to anti-corruption. The Group thus stipulates in its Compliance Code of Conduct that it rejects improper relationships with business partners, governments, local municipalities, and public institutions and that it will engage only in fair dealings. Anti-corruption measures are implemented based on this code of conduct.

Over the course of its business activities, the Yamaha Group engages in negotiations and collaboration with national and regional government agencies. Risks of bribery exist with regard to projects conducted for educational or public institutions and to the acquisition of permits for building or operating factories. These risks create a need for anti-corruption measures that account for the Corruption Perceptions Index* and the importance of specific production and sales sites. The Group implements and enforces internal rules based on its Compliance Code of Conduct and conducts anti-corruption measures, training, and education to address these and other corruption risks. The Legal Division of Yamaha Corporation carries out meetings with and analyses the Group’s 13 domestic subsidiaries and 31 overseas subsidiaries in an ongoing effort to raise awareness with regard to potential corruption risks. Furthermore, the Legal Division monitors the initiatives of Group companies and reports on these efforts to the Board of Directors.

  • * An index ranking the degree of corruption of a country’s public sector compiled by Transparency International

Thorough Enforcement of Rules

Rules regarding gifts and entertainment offered during the course of business activities have been established on a by-division basis to ensure legal compliance. At overseas Group companies located in regions characterized by high risks of bribery of government officials, awareness is maintained regarding the importance of clearly indicating to whom gifts or entertainment are to be provided along with the details of these gifts or entertainment. Prior application is required before providing gifts and entertainment, and expenditures are tracked to prevent bribery of government officials.

The Legal Division of Yamaha Corporation is responsible for formulating rules with regard to the compliance program to be implemented on a Groupwide basis.

Anti-Corruption Measures, Training, and Education

The Yamaha Group is implementing a myriad of measures to prevent bribery and other inappropriate transactions. In addition to combatting misconduct in its own activities, the Group is also committed to addressing bribery risks in the activities of business partners. To this end, some Group companies take steps such as requiring business partners, through contracts and other stipulations, to prohibit bribery and receiving pledges on this matter from business partners. Furthermore, the Yamaha Supplier CSR Code of Conduct stipulates the prohibition of corruption involving suppliers.

The Legal Division of Yamaha Corporation promotes understanding and awareness of international and legal standards pertaining to anti-corruption within the Group. In addition, this organization has set up a bribery-related consultation hotline for use by Group companies and offers support for implementing anti-corruption measures.

Corruption-Related Incidents

In fiscal 2022, no legal violations or government sanctions were incurred as a result of acts of corruption. In addition, no reports on acts of bribery by the Yamaha Group were received through compliance helplines from individuals claiming to be business partners of the Group or their employees.