Fair Trade Practice

The Yamaha Group does not engage in any unfair trading practices or unjust practices designed to restrict competition and makes every effort to ensure fair competition, the bedrock of healthy development in a market economy. Moreover, as a partner working closely with its suppliers and customers, the Yamaha Group strives to maintain trusting relationships by practicing fair trade. The Yamaha Group familiarizes all Group employees with rules governing corporate practices concerning market competition and rules regarding the maintenance of fair relationships with suppliers as laid out in the Compliance Code of Conduct.

Fair Competition Law Training (Overseas)

As part of its efforts to ensure fair competition, the Yamaha Group conducts fair competition law training at overseas Group companies. The services of lawyers and specialists are employed in this training, which features curricula tailored to the regulatory frameworks and execution characteristics of the respective country and designed to prevent such legal violations as cartel activities, bid rigging, and price fixing.
In fiscal 2020, fair competition law training was conducted at 17 overseas sales companies and operating companies where such training had not taken place in the past three years. In fiscal 2022, we plan to develop fair competition law compliance guidelines for the entire Yamaha Group and to carry out training based on these guidelines.

Legal Training Regarding Fair Trade Practices (Japan)

At Yamaha Corporation and its domestic subsidiaries, training is conducted on laws and regulations including the Act on Prohibition of Private Monopolization and Maintenance of Fair Trade (Antimonopoly Act), the Act against Delay in Payment of Subcontract Proceeds, Etc. to Subcontractors (Subcontractors Act), and consumer-related laws. In fiscal 2021, remote training on the Antimonopoly Act was administered to three high-risk domestic subsidiaries of a predetermined size. Conventional group training could not be conducted as a result of the COVID-19 pandemic. However, we are in the process of preparing training programs using IT tools and online content so that training can be provided via the internet in fiscal 2022.

Legal Training
  FY2018 FY2019 FY2020 FY2021
Legal training participants* Approx. 140 Approx. 260 Approx. 200 Training in fiscal 2021 was limited to legal training on the Antimonopoly Act at three major domestic subsidiaries as a result of the COVID-19 pandemic.

* Aggregate total

Legal training

Compliance with the Subcontractors Act (Japan)

Transactions with subcontractors are tracked through the Group's accounting system, and frameworks are in place to prevent payment delays. Furthermore, through opportunities that include meetings with Procurement Department employees, we inform internal departments of notifications from the government regarding the Subcontractors Act and of related standards as part of measures to stay abreast of and familiarize employees with legal requirements.

On May 10, 2021, a news release was issued detailing the following legal sanctions incurred in fiscal 2021 as a result of involvement of Yamaha Group organizations in violations of fair trade, antitrust laws, or anti-monopoly laws.

Yamaha Music Europe GmbH (YME) has been under investigation by different authorities in some European countries for competition law infringements relating to the sales of some of its products. The duration of the infringements varied from 2004 or later to 2017 depending on the country. The infringements were terminated, and the corrective actions were completed in 2017 in all countries.
YME has cooperated with investigations by the authorities, implemented corrective actions, and paid total fines of €4.3 million (¥527 million) based on the resulting decisions. These fines were recorded under other expenses for fiscal 2021.
We have taken measures to prevent recurrence of such infringements. Furthermore, the Yamaha Group will continue to comply with all laws, including fair competition laws, by thoroughly implementing its compliance program.