The Yamaha Group reflects priority sustainability initiatives for contributing to social sustainability and medium- to long-term improvements to corporate value into its sustainability initiatives, and advances and manages activities on these policies. In fiscal 2022, we reassessed our prior sustainability priorities to identify nine material issues. A revision to the Yamaha Group Sustainability Policy was instituted in April 2022 based on these material issues, and this policy is guiding sustainability initiatives.
Identified Material Sustainability Issues
Response to climate change
- Reduction of CO2 emissions at business sites and in logistics, and through collaboration with suppliers
- Energy savings in products
Sustainable use of timber
- Sustainable sourcing and utilization of timber
- Promotion of forest cultivation
Resource savings, reduction of waste and hazardous substances
- Resource savings and improved resource recycling of products and packaging
- Reduction of hazardous chemical substances (VOCs, etc.)
Contribution to an equal society and comfortable lives
- Mental and physical safety and health
- Remote communication
- Consideration for universal design and accessibility, etc.
Respect for human rights in the value chain
- Human rights of workers at suppliers, etc.
Spread and development of music culture
- Products, services, and activities that contribute to the promotion and development of music culture
- Contribution to the development of the next generation
Increase job satisfaction
- Human resources development, safety and health, work–life balance, etc.
Respect for human rights and DE&I (diversity, equity and inclusion)
- Initiatives to respect the human rights of people who work with Yamaha (human rights education and due diligence)
- DE&I promotion (gender, nationality, etc.
Foster open organizational culture where people can proactively take on challenges
- Employee engagement surveys, creation of opportunities for dialogue, etc.
Material Sustainability Issues, KPIs, and Targets
|What we protect and develop||Material items||Major initiatives||KPIs and targets for fiscal 2025 (Make Waves 2.0 medium-term management plan)||Relevant SDGs|
Precious global environment
|Response to climate change||
|Sustainable use of timber||
|Resource savings, reduction of waste and hazardous substances||
Equal society and comfortable lives
|Contribution to an equal society and comfortable lives||
|Respect for human rights in the value chain||
Music culture to enrich people’s hearts and minds
|Spread and development of music culture||
Diversity and mutual respect
|Increase job satisfaction||
|Respect for human rights and DE&I (diversity, equity, and inclusion)||
|Foster open organizational culture where people can proactively take on challenges||
Material Issue Identification Process
- 1. Identification of Important Stakeholder Groups
- Important stakeholder groups were identified to limit the scope of social issues to be assessed and guide priority assessments of social issues.
- 2. Limiting of Scope of Social Issues to Be Assessed
- A list of 114 issues was prepared based on the targets of the UN Sustainable Development Goals (SDGs) and on global risk reports, global risks, and other risks. Redundant issues and issues deemed to be of low materiality to Yamaha and to the stakeholder groups identified in Step 1 were excluded for the list. Then, certain social issues were divided into risks and opportunities and social issues unique to Yamaha Group were added to make for list of a total of 64 social issues to be assessed.
- 3. Assessment of Materiality of Social Issues
- The 64 social issues identified in Step 2 were divided into risks and opportunities and mapped based on materiality assessments conducted based on the perspectives described under (1) and (2) below.
- (1) Business Perspective (Materiality to Yamaha)
A cross-Company assessment team of 35 individuals was assembled to score the materiality of the identified social issues from the perspectives of profits, losses, costs, reputation, compliance, corporate ethics, and management and business continuity.
- (2) Stakeholder Perspective (Materiality to Stakeholders)
Customer input, employee surveys, and other methods were used to identify the needs and opinions of the stakeholder groups identified in Step 1. The materiality of the identified social issues was then scored based on this information, the requirements of industry initiatives, and environmental, social, and governance (ESG) evaluation criteria (of FTSE Russell, MSCI, and other institutions).
- (1) Business Perspective (Materiality to Yamaha)
- 4. Identification of Material Issues
- Social issues deemed to be of high materiality based on the mapping in Step 3 were grouped to make nine material issues, which were then further categorized and organized into the areas of environment, society, culture, and human resources.
- 5. Approval
- The identified material issues were discussed by the Sustainability Committee, which is chaired by the president, and then approved by the Board of Directors.
- Yamaha Group Sustainability Policy
- Yamaha Group Human Rights Policy
- Yamaha Group Diversity & Inclusion Policy
- Yamaha Group Environmental Policy
- Yamaha Eco-Products program
- Yamaha Group Purchasing Philosophy
- Yamaha Supplier CSR Code of Conduct
- Yamaha Group Timber Procurement Policy
- Yamaha Group Green Procurement Policy
- Yamaha Compliance Code of Conduct