Yamaha Compliance Code of Conduct
The Yamaha Group aims to create a society that realizes the well-being of all people around the world. To achieve this goal, we will continue to create excitement and cultural inspiration together with people around the world, with our corporate philosophy of "Yamaha Philosophy" as the foundation to draw from.
Based on this concept, in our relationships with people associated with Yamaha’s business around the world, all officers, employees, and related parties will comply with the legal requirements and internal codes that apply to companies and individuals, and act openly and fairly in accordance with business ethics and social norms. The Yamaha Compliance Code of Conduct offers specific examples of actions and behavior that will help to bring these concepts to reality.
Below is the code that is used as the guideline for Yamaha Group companies. Overseas subsidiaries have their own codes, which are based on this code and which have been adapted to local legislation and social norms.
- RELATIONSHIP WITH CUSTOMERS
- RELATIONSHIP WITH SHAREHOLDERS AND INVESTORS
- RELATIONSHIP WITH EMPLOYEES
- RELATIONSHIP WITH SOCIETY
- RELATIONSHIP WITH BUSINESS PARTNERS
- RELATIONSHIP WITH COMPETITORS
- RELATIONSHIP WITH ADMINISTRATION AND POLITICIANS
- COMPLIANCE IN INTERNATIONAL TRANSACTIONS
- YAMAHA EMPLOYEES' CODE OF CONDUCT
1. RELATIONSHIP WITH CUSTOMERS
- 1-1 Realization of customer satisfaction
- Yamaha makes maximum efforts to develop, manufacture and provide high-quality products and services to ensure its customers are impressed and satisfied.
- 1-2 Ensuring safety of products and services
- Yamaha will take all reasonable measures to ensure that its products, services or facilities do not cause damage or injury to a customer's life, body or property. In the event that any damage or injury is caused despite our efforts, Yamaha is committed to providing prompt and appropriate remedies and to taking appropriate steps so that the same event will not happen again.
- 1-3 Proper advertisement and publicity and accurate presentation of information
- Yamaha shall conduct advertising and publicity that appropriately communicates the contents of its products and services to consumers as well as present accurate information about them in accordance with applicable laws and regulations.
- 1-4 Understanding of consumer-protection regulations
- Yamaha understands the importance of consumer protection, complies with laws and regulations relating to it, and markets its goods only after it has fully provided appropriate explanations of its products, services or warranties according to each customer's level of knowledge and experience and each product's or service's specific characteristics.
- 1-5 Protection of customers' personal information
- Yamaha observes laws and regulations and relevant internal rules concerning the protection of personal information, and strives to provide the proper protection and utilization of customers' personal information.
- 1-6 Offer of after-sales services and response to customer inquiries
- Yamaha has a well established after-sales services system, and sincerely responds to its customers' requests by offering prompt and reliable after-sales services in an effort to provide complete customer satisfaction. Moreover, Yamaha responds to inquiries and requests from customers in a sincere and honest manner.
2. RELATIONSHIP WITH SHAREHOLDERS AND INVESTORS
- 2-1 Accurate accounting records and financial reports
- Yamaha accurately prepares its accounting books in compliance with applicable laws and regulations and provides a true and accurate report of its financial condition and operational results to the required government entities and to its shareholders. Yamaha hereby declares that it will in no case dress up its reports motivated by unjust reasons, nor will it engage in any inappropriate accounting practices.
- 2-2 Timely disclosure of information
- In pursuit of establishing "transparency" in its operations, Yamaha regularly updates its shareholders and investors with appropriate business information in order to obtain their support for Yamaha's activities. In addition, Yamaha also promptly publishes any information that may have a material impact on its business operations.
- 2-3 Prohibition against speculative trading
- Yamaha does not engage in speculative trading for the purpose of making profits outside its main business.
- 2-4 Appropriate allocation of profits
- Yamaha makes investments for future growth in R&D, marketing, capital equipment, and other areas, while flexibly returning a portion of profits to shareholders.
- 2-5 Prohibition against extending benefits to shareholders
- Yamaha does not extend financial benefits to anyone in relation to, or in return for, his/her exercise of shareholder rights, and Yamaha will never offer any economic interest nor promise the same in response to any requests from specific shareholders.
- 2-6 Prohibition against insider trading
- Yamaha shall not tolerate insider trading. If an employee obtains material information concerning Yamaha or any other company, such an employee is prohibited from purchasing or selling securities of the company about which he/she has obtained material information until such information is made public and sufficient time has passed for it to be evaluated thoroughly by the investment community.
3. RELATIONSHIP WITH EMPLOYEES
- 3-1 Respect for creativity and independence
- Yamaha respects and encourages employee creativity and independence, and strives to maintain the conditions necessary to realize them. Yamaha appropriately acquires, protects and effectively utilizes the intellectual property, such as inventions and creations, produced in the course of its business activities.
- 3-2 Prohibition against harassment
- Yamaha prohibits unjustified discrimination by language or behavior that may be construed as harassment, including sexual harassment and bullying.
- 3-3 Favorable employer-employee relationships
- Yamaha adheres to the protection of "employees" rights prescribed by international treaties, law, collective labor agreement and other agreements between the employer and "employees". We promote the creation of an environment where employees and the employer can cooperate to realize Yamaha Corporate Philosophy.
- 3-4 Ensuring safety and good health
- Yamaha continuously strives to improve its working environment by taking necessary measures in a continuous and planned manner in order to maintain and improve the physical and mental health of "employees". Employees must comply with the requirements that are requested based on such measures.
- 3-5 Fair evaluation and compensation
- Yamaha determines evaluation and compensation of employees based on fair rules using criteria such as the ability to perform tasks, job responsibilities and achievements.
- 3-6 Promotion and development of job skills
- Yamaha endeavors to encourage skill development of "employees" regardless of race, age, gender and other unrelated factors, so that employees can demonstrate the maximum performance. Managers are obliged to train employees through daily instruction so that they can understand Yamaha Corporate Philosophy and can enhance their value as useful members of the Yamaha team.
- 3-7 Prohibition against forced labor and child labor
- Yamaha prohibits any form of forced labor or labor by children under the minimum age permissible by law. In addition, Yamaha supports international efforts to exclude and abolish such child labor and endeavors to realize this ideal.
4. RELATIONSHIP WITH SOCIETY
- 4-1 Respect for human rights and prohibition against discrimination
- Yamaha respects fundamental human rights and adheres to and observes internationally recognized standards in its business activities. Yamaha especially objects to any discrimination based on race, gender, religion, language or ethnic background, and will not discriminate based on ideology, creed or political opinion.
- 4-2 Protecting the global environment
- Yamaha recognizes the importance of the protection of the global environment for mankind and society. Yamaha proactively addresses issues such as measures to prevent environmental pollution and global warming; biodiversity measures, including the sustainable procurement of timber; the development of environmentally friendly technology as well as the provision of environmentally friendly products and services; and the proper disposal of industrial waste.
- 4-3 Harmonization with society
- Yamaha acknowledges that a corporation is a member of society and endeavors to be a "good corporate citizen". Yamaha will not only adhere to logic applicable within our organization, but will strive to foster socially acceptable values and conduct and to cooperate with the local community and thus to harmonize with it.
- 4-4 Dealing with antisocial forces
- Yamaha rejects any culpable relationship with any terrorist support organization, organized crime organization or other antisocial organizations or persons. Resolute attitudes are required to deal with those who make unjustifiable demands by disguising themselves through business relationships or customer claims. Yamaha will respond to such organizations with a resolute attitude and will "not be afraid", "not offer money" and "not establish any relationship with them".
- 4-5 Promotion of social-contribution (charitable) activities
- Yamaha contributes to the development and welfare of society through our business operations and by promoting social-contribution activities, and supports social contribution activities undertaken by our employees.
5. RELATIONSHIP WITH BUSINESS PARTNERS
- 5-1 Building a healthy business relationship
- Yamaha values mutual understanding and trust with its business partners and aims to build healthy a business relationship.
- 5-2 Selection of suppliers
- Yamaha selects its suppliers from the pool of suppliers who satisfy Yamaha's objective procurement standards based on its fair and reasonable decisions and expects such suppliers to fulfill their social responsibilities.
- 5-3 Fair trade
- Yamaha will not engage in unfair dealings with its suppliers and customers.
- 5-4 Elimination of improper relationships (gift giving, business entertainment, etc.)
- Yamaha prohibits any "employee" from abusing his/her position by accepting entertainment, money and goods, or any other tangible/intangible benefits from business partners, etc., or accepting personal compensation or commissions in relation to the business.
- 5-5 Transactions with subcontractors
- With respect to subcontracting, Yamaha will not engage in any unfair conduct, such as abuse of its dominant bargaining position.
6. RELATIONSHIP WITH COMPETITORS
- 6-1 Fair competition
- Yamaha will not engage in unreasonable restrictions of competition and/or unfair practices.
- 6-2 Prohibition against inappropriate comparative advertising
- Yamaha will not knowingly injure the reputation of the products and/or services of other companies nor use false or deceptive forms of comparison in its advertisements.
- 6-3 Respect for intellectual property rights
- Yamaha will respect intellectual property rights owned by others and will follow legitimate means and procedures for the acquisition when it seeks to use such intellectual property. Yamaha will protect its own intellectual property, including when Yamaha allows others to use it.
- 6-4 Legitimate and appropriate acquisition and use of information
- Yamaha takes legitimate and appropriate measures when it obtains confidential business information of its competitors (e.g., corporate information, marketing information, patent information, etc.) and uses and manages such information appropriately.
7. RELATIONSHIP WITH ADMINISTRATION AND POLITICIANS
- 7-1 Transactions with government and public officials
- Yamaha conducts transactions with government and/or public officials fairly and in accordance with public bidding rules and other prescribed rules and procedures.
Furthermore, Yamaha prohibits such behavior that could be deemed as bribery of government officials or quasi-government officials.
- 7-2 Prohibition against gift giving to and entertainment of government officials, etc.
- In principle, Yamaha does not offer gifts, entertainment or other items of value to officers or employees of governments and/or public offices. Yamaha complies with the rules and regulations of the governments and/or public offices.
- 7-3 Political Contributions
- Yamaha shall not make any contribution to a politician in person where prohibited by law, and to a political organization or party, in excess of the permissible amount under the law.
- 7-4 Response to government authorities
- Yamaha in principle fully cooperates with courts, police, tax authorities and other government authorities when requested to do so.
8. COMPLIANCE IN INTERNATIONAL TRANSACTIONS
- 8-1 Understanding business partners' local cultures and legal systems
- In every country where Yamaha conducts business, we understand and respect their culture and comply with the laws of the country where we conduct our business.
- 8-2 Compliance with import and export regulations
- Yamaha complies with proper customs procedures according to the relevant import and export laws and regulations. Moreover, Yamaha does not trade in goods whose export or import is prohibited by international treaties.
- 8-3 National security-related trade control
- Yamaha hopes for global peace and safety. Yamaha observes the applicable security-related trade control regulations that have been set out to prevent proliferation of weapons of mass destruction and accumulation of other weapons. To that end Yamaha will develop and comply with internal management rules.
- 8-4 Appropriate pricing
- Yamaha exercises due care in setting prices for its products and services, and prepares and maintains evidential documents for the proof of adequate pricing in order to avoid being subject to anti-dumping measures and transfer-price taxation in every country.
- 8-5 Prohibition against bribery to foreign government officials
- Yamaha prohibits providing illicit benefits, including providing corporate entertainment and gift giving, to foreign governmental officials under any circumstances.
9. YAMAHA EMPLOYEES' CODE OF CONDUCT
- 9-1 Maintaining dignity
- We strive to maintain dignity as employees of Yamaha and act in good faith. We will not take or get involved in any activities that may harm our company's reputation and damage its brand image.
- 9-2 Enhancement of brand trustworthiness
- We acknowledge that Yamaha's business activities and success rely heavily on the brand image of Yamaha, and we endeavor to enhance the trustworthiness and goodwill of the Yamaha brand through our business activities. In addition, we use the Yamaha brand properly in accordance with the established and prescribed rules.
- 9-3 Avoidance of conflict of interest
- We do not engage in any activities that are against the interests of Yamaha or the company to which we belong. When conflict of interest is likely to be an issue, it is necessary to report or consult on the matter beforehand to avoid any problem.
- 9-4 Strict adherence to duty of confidentiality
- We will not illegally disclose information related to intellectual property under the administration of the company or confidential information obtained during one's performance of duties, whether or not such information is under one's direct control or responsibility, and such duty shall survive after the termination or retirement of one's employment.
- 9-5 Cooperation with audit
- We will actively cooperate with all audits and inspections, including audits by outside auditors, corporate auditors and audit departments, etc. based on laws, regulations and rules adopted by the corporation, and accurately respond or submit information based on fact. Furthermore, when such audits, etc. disclose a need for improvements, we will immediately follow up such requests unless there are reasonable grounds for objection.
- 9-6 Response to mass media
- When an employee is asked by any media about matters related to the company, he/she should politely direct such requests to the Corporate Communication Division (public relations) in charge and should not make any personal comments or remarks or reports as to what he/she may have seen or heard within the company without prior permission of the Company.
- 9-7 Appropriate utilization of company's assets
- We will utilize the company's buildings, facilities, office equipment and any other company property with due care, and limit the use of the same by employees solely for business purposes.
- 9-8 Utilization and management of the company's information systems
- When we utilize the company's information systems and equipment, we will observe the internal security regulations in order to prevent unnecessary distribution of internal information, and take appropriate protective measures against infringements by those outside the company.
- 9-9 Responsibility for Personal Usage of Social Media, etc.
- When we personally participate in social media or log on to internet web sites, we should be responsible for what we say and keep in mind to act in a socially responsible manner and with good sense.
Established: April 2003
Revised: June 2023