Dialogue with Shareholders and Investors

Policies Regarding Dialogue with Shareholders and Other Investors

The Yamaha Group conducts appropriate disclosure and constructive dialogue with shareholders, investors, and other stakeholders in accordance with the following policies and codes of conduct. The input gathered through these activities is reported to the Board of Directors as appropriate to reflect this input into business activities in order to drive ongoing growth and medium- to long-term improvements in corporate value.

IR Activities

The Yamaha Group strives to disclose information in a fair and timely manner for the benefit of institutional and private investors around the world. Rules for disclosure are set forth in the Disclosure Policy, which is available on the Company’s corporate website.

Website for Investors

The investor relations (IR) section of Yamaha’s corporate website (available in English and Japanese) provides up-to-date information on our business, including business strategies, information on medium-term management plans, earnings reports, financial data, and annual reports, along with newsletters. In fiscal 2023, the IR section of our website received a number of honors, namely a 2022 Internet IR Commendation Award (Daiwa Investor Relations Co. Ltd.), recognition as a AAA website in the overall category of the 2022 homepage ranking of all listed companies (Nikko Investor Relations Co., Ltd.), and a silver award in the ranking of companies with superior IR websites (Gomez). These honors reflected the evaluation of the website’s extensive selection of corporate and management information.

Major IR Activities

Yamaha is bolstering engagement with shareholders and other investors in both Japan and overseas through various activities such as quarterly results briefings and other regular events as well as business briefings for securities analysts and institutional investors, factory and facility tours, and explanatory meetings for private investors, which are held as needed. We have also been increasingly utilizing online communication tools for IR activities in recent years. The opinions and information gathered through engagement with shareholders and other investors are shared internally among the related departments, and these findings are reflected in our IR activities and in the execution of management.

Major Activities

  Target audience Frequency Times held in fiscal 2023
Financial results briefings Securities analysts
Institutional investors
Quarterly 4
Business briefings Same as above Irregularly 1
Factory and facility tours Same as above Irregularly 0
Individual meetings Same as above Approx. 200 times a year 250
Overseas investor visits Overseas institutional investors Three times a year (United States, Europe, and Asia) 0
Medium-term management plan briefings Securities analysts
Institutional investors
As needed 1
Company briefings for private investors Private investors Irregularly (in Japan) 2
[Image] Online company briefing for private investors
Online company briefing for private investors
[Photo] Medium-term management plan briefing
Medium-term management plan briefing

ESG Investment Initiatives

Yamaha Corporation has been included in domestic and overseas environmental, social, and governance (ESG) indices*1 and ESG funds based on the consideration it exercises for the environment and for society.

For more details, please refer to the following website.

  • *1 ESG indexes compile companies evaluated as exhibiting excellence in terms of both profitability and sustainability and track the movements of their stock prices.
[Logo] FTSE4Good Global Index
FTSE Russell (the trading name of FTSE International Limited and Frank Russell Company) confirms that Yamaha Corporation has been independently assessed according to the FTSE4Good criteria, and has satisfied the requirements to become a constituent of the FTSE4Good Index Series. Created by the global index provider FTSE Russell, the FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices. The FTSE4Good indices are used by a wide variety of market participants to create and assess responsible investment funds and other products.
[Logo] FTSE Blossom Japan
FTSE Russell confirms that Yamaha Corporation has been independently assessed according to the index criteria, and has satisfied the requirements to become a constituent of the FTSE Blossom Japan Index. Created by the global index and data provider FTSE Russell, the FTSE Blossom Japan Index is designed to measure the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices. The FTSE Blossom Japan Index is used by a wide variety of market participants to create and assess responsible investment funds and other products.
[Logo] FTSE Blossom Japan Index
FTSE Russell confirms that Yamaha Corporation has been independently assessed according to the index criteria, and has satisfied the requirements to become a constituent of the FTSE Blossom Japan Sector Relative Index. The FTSE Blossom Japan Sector Relative Index is used by a wide variety of market participants to create and assess responsible investment funds and other products.
THE INCLUSION OF YAMAHA CORPORATION IN ANY MSCI INDEX, AND THE USE OF MSCI LOGOS, TRADEMARKS, SERVICE MARKS OR INDEX NAMES HEREIN, DO NOT CONSTITUTE A SPONSORSHIP, ENDORSEMENT OR PROMOTION OF YAMAHA CORPORATION BY MSCI OR ANY OF ITS AFFILIATES. THE MSCI INDEXES ARE THE EXCLUSIVE PROPERTY OF MSCI. MSCI AND THE MSCI INDEX NAMES AND LOGOS ARE TRADEMARKS OR SERVICE MARKS OF MSCI OR ITS AFFILIATES.

Credit Ratings (As of March 31, 2023)

Rating and Investment Information, Inc. A+
Japan Credit Rating Agency, Ltd. AA-

Shareholder Returns and Retained Earnings

The Company’s shareholder returns and retained earnings policies are explained in the following link.

Shareholder Benefits

Yamaha Corporation has introduced special incentive programs for shareholders to express its appreciation for their daily support and to foster greater understanding and support for Yamaha’s business. Shareholder benefit programs are available only to residents of Japan.