Yamaha Motor Integrated Report 2020

The Overall Goal and Direction of Corporate GovernanceTashiro I would like to discuss some areas I want the Company to focus on going forward. Yamaha Motor offers an extremely wide range of products, not just motorcycles and marine products. Moreover, with bases in over 100 countries globally, its areas of operation are also wide- ranging, and this makes it a challenge to run the Company from a corporate governance standpoint. The recent global COVID-19 pandemic is a case in point. As different countries and regions face different circumstances, the measures that need to be taken in response to this single event differ accordingly by country and region. Therefore, I think it’s vital to create an environment that allows management to quickly get information, gauge the situation, and promptly make decisions on urgent matters at Board meetings. As things proceed, I would like the Company to gear more of its efforts toward establishing such a structure.Kamigama I feel the same way. I think the most important factor in effective corporate governance is establishing a structure for providing to management all manner of infor-mation influencing the operation of the Company. Furthermore, if an event is urgent, it should be put before the Board of Directors at once. And even if a case does not require urgency, if there is the slightest possibility that an event may drastically affect the Company in the future—such as a compliance-related matter—we outside directors should also be notified beforehand and the matter in ques-tion discussed at a Board meeting. Doing so will help pre-vent impacts from becoming significant.Tashiro Information is indispensable for not only improving the quality of discussions at Board meeting but also for making appropriate decisions. The more drastically the exter-nal environment changes, the more crucial communication channels and a structure for gathering information from around the world become.Kamigama We are both members of the Executive Personnel Committee, so I would like to hear your thoughts on its role as a committee member. I think that the remuneration system for executives as well as the program for training successors are being developed with good reasoning and transparency, and both are at a level worthy of praise.Tashiro Indeed. The remuneration system incorporates a results-oriented approach while the successor training pro-gram has been systematically designed with aspects that facilitate the input of external viewpoints, such as outside directors also getting the opportunity to interview executive officer candidates. However, there are no female or non-Japanese members among the current internal directors and only a few among the incumbent executive officers. While I feel that this remains an issue, there is both female and non-Japanese representation among the executive officer candidates, so I believe that the Company is moving in a good direction. With an overseas sales ratio of approxi-mately 90%, the promotion of non-Japanese people is surely a necessity given that overseas operations account for most of the Company’s business. The Company is also making concerted efforts toward systems and structures for fostering the advancement of women, including the estab-lishment of shorter working hours and childcare facilities. However, it’s important to be aware that the creation of frameworks alone is not a corporate goal. I have always felt that if we are not conscious of the likely advantages to be gained through the active role of women, such as an increase in sales, a reduction in costs, and the bringing forth of new ideas, we will not resolve this issue.Kamigama With Japanese manufacturers in general, not just at Yamaha Motor, there has been little progress in the promotion of women to executive and management positions. Yet if we look overseas, we can see women are actively promoted to Board meeting instead of voting on proposals right away. As a result, I believe Yamaha Motor’s corporate governance is steadily moving forward in a positive direction.Tashiro Just recently, all the outside directors were given the opportunity to gather together and personally make recommen-dations directly to President Hidaka on the appropriate role of the Board of Directors. You had some rather harsh words to say.Kamigama I may have been overly harsh. However, when I served as president and representative director of TDK Corporation, I also received forthright opinions from outside directors and found it very valuable to hear recommendations from an outside perspective because they were things that we would not have realized on our own. For that reason, I will continue to speak up without hesitation and I ask that you also offer the Board of Directors your candid feedback.55Yamaha Motor Co., Ltd. Integrated Report 2020

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