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Tax Policy

This section introduces initiatives we have in place at the Yamaha Motor Group for tax governance.

Our basic tax policy identifies compliance with tax-related laws and regulations, maintaining transparency, and relationship with tax authorities as the three basic elements, and we have structural framework from 5 to establish these elements.

Basic Tax Policy

The Yamaha Motor Group has established the following basic tax policy. The tax function of the head office is to carry out required tax duties in accordance with the company’s tax policy and report the status of its progress to the director in charge of the corporate planning and financial domains in a timely manner.

Based on the company’s basic tax policy, the tax function of the head office provides employees throughout the company and within the Yamaha Motor Group companies with appropriate guidance on taxation. The head office also works to maintain a governance system related to taxation across the group itself.

Aims

Contributing to the nation and society through tax payment is one of Yamaha Motor's management principles and is part of the company’s global implementation of social responsibility. In pursuit of this philosophy, Yamaha Motor Group companies always pay their taxes both correctly and in a timely manner.

Three Basic Elements

Compliance with Tax-related Laws and Regulations The Yamaha Motor Group complies with applicable tax-related laws and regulations in the countries and regions where it operates and conducts our business activities in line with international standards such as OECD transfer pricing guidelines.
Maintaining Transparency Yamaha Motor will disclose tax payment information to stakeholders including tax authorities in a timely and appropriate manner.
Relationship with Tax Authorities Yamaha Motor strives to establish and maintain appropriate relationships with the tax authorities based in each country. Yamaha Motor endeavors to be fully accountable to ensure against any discrepancies with the tax authorities on individual matters.
In the event of a differing viewpoint with an authority, Yamaha Motor will always take appropriate measures to solve any dispute, and in this way, maintain our business value.

Structural framework to secure the above three elements

Tax Governance System Yamaha Motor positions tax governance as management responsibility for the director in charge of corporate planning and financial domains and gives corporate tax function its executive authority.
The Yamaha Motor group companies and their employees receive appropriate guidance from the head office tax function as required and carry out business activities in accordance with Group Financial and Accounting Detailed Guidelines.
Tax Function Responsibilities The head office tax function establishes and manages the tax governance system within the group based on this basic tax policy and monitors that business activities are properly conducted in accordance with this policy.
Business Activity Principles Role and cost sharing among group companies are based on the beneficiary-to-pay principle.
For regular transactions between group companies, we recommend the setting of transaction prices based on the arm’s length principle.
Yamaha Motor does not use transactional structure that lack economic substance nor shift its profit to low-tax jurisdictions (so-called tax havens) , for the purpose of tax avoidance.
Double Taxation Avoidance Through various activities aimed at avoiding double taxation, Yamaha Motor has established and maintains appropriate relations with tax authorities and works to optimize mid- and long-term tax related expenses.
Application of Preferential Tax Benefits Yamaha Motor considers the applications of any preferential tax benefits and strives to optimize all tax-related expenses in the planning and promotion of its business activities.

Tax Information

List of taxable entities

List of taxable entities for FY2022
Tax Jurisdiction Constituent Entities Resident in the Tax Jurisdiction
JapanYamaha Motor Compay Limited
JapanYamaha Motorcycle Sales Japan Compay Limited
JapanY's gear Compay Limited
JapanYamaha Marine Hokkaido Manufacturing Co., Ltd.
JapanYamaha Kumamoto Products Compay Limited
JapanYamaha Amakusa Manufacturing Compay Limited
JapanYamaha Motor Powered Products Compay Limited
JapanYamaha Motor Electronics Compay Limited
JapanHamakita Industry Company Limited
JapanYamaha Motor Precision parts Manufacturing Company Limited
JapanYamaha Motor Hydraulic System Company Limited
JapanYamaha Marina Co., Ltd.
JapanYamaha Motor Biz Partner Co.,Ltd.
JapanYamaha Motor Solutions Company Limited
JapanYamaha Motor Engineering Company Limited
JapanSugo Company Limited
JapanNishi Nippon Skytech Company Limited
JapanYamaha Motor Mirai Company Limited
JapanYamaha Motor Robotics Holdings Co., Ltd.,
JapanSHINKAWA LTD.
JapanTuning Fork Bio Japan K.K.
JapanPFA Corporation
JapanAPIC YAMADA CORPORATION
JapanCourieMate Co.Ltd.
JapanShizuoka BlueRevs Co.,Ltd.
United States of AmericaYamaha Motor Corporation U.S.A.
United States of AmericaYamaha Motor Manufacturing Corporation of America
United States of AmericaYamaha Marine Systems Company Inc.
United States of AmericaSiren Marine Inc.
United States of AmericaSiren IOT, LLC
United States of AmericaConnected Boat LLC
United States of AmericaYamaha Jet Boat Manufacturing U.S.A. Inc.
United States of AmericaSkeeter Products Inc.
United States of AmericaYamaha Jet Boat Manufacturing U.S.A. Inc.
United States of AmericaYamaha Golf-Car Company
United States of AmericaIndustrial Power Products of America Inc.
United States of AmericaYamaha Motor Ventures, Inc.
United States of AmericaYamaha Motor Exploratory Fund GP, L.L.C.
United States of AmericaYamaha Motor Exploratory Fund 2 GP, L.L.C.
United States of AmericaYamaha Motor Sustainablity Fund GP, L.L.C.
United States of AmericaYamaha Motor Exploratory Fund, L.P.
United States of AmericaYamaha Motor Exploratory Fund 2, L.P.
United States of AmericaYamaha Motor Sustainablity Fund, L.P.
United States of AmericaYamaha Motor Finance Corporation
United States of AmericaNewCo Holdings Corporation
United States of AmericaYamaha Motor Finance Corporation U.S.A.
United States of AmericaYamaha Motor Credit-Card Receivables Corporation.
United States of AmericaYamaha Motor Receivables Corporation
United States of AmericaYamaha Motor Golf-Car Lease Receivable Corporation
United States of AmericaYamaha Motor Installment Receivables Corporation
United States of AmericaYamaha Motor Distribution Latin America Inc.
United States of AmericaShinkawa U.S.A., Inc.
United States of AmericaTuning Fork Bio, Inc.
United States of AmericaYamaha Motor Solutions India Pvt. Ltd. - US Branch
CanadaYamaha Motor Canada Limited
CanadaYamaha Motor Finance Canada Limited
Canada1455305 B.C. UNLIMITED LIABILITY COMPANY
NetherlandsYamaha Motor Europe N.V.
BelgiumYamaha Motor Europe N.V. - Belgium Branch
FranceYamaha Motor Europe N.V. - France Branch
FranceYamaha Motor Finance France S.A.S
FranceYamaha Motor Manufaturing Europe SAS
ItalyYamaha Motor Europe N.V. - Italy Branch
ItalyYamaha Motor Research & Development Europe S.r.l.
ItalyYamaha Motor Racing S.r.l.
GermanyYamaha Motor Deutschland GmbH.
GermanyENYRING GMBH
SpainYamaha Motor Europe N.V. - Spain Branch
SpainMotor Center BCN S.A.
PortugalYamaha Motor Europe N.V. - Portugal Branch
AustriaYamaha Motor Europe N.V. - Austria Branch
SlovakiaYamaha Motor Europe N.V. - Slovakia Branch
United KingdomYamaha Motor Europe N.V. - Great Britain Branch
TurkeyYamaha Motor Sanayi ve Ticaret Limited Sirketi
SwedenYamaha Motor Europe N.V. - Sweden Branch
NorwayYamaha Motor Europe N.V. - Norway Branch
DenmarkYamaha Motor Europe N.V. - Denmark Branch
PolandYamaha Motor Europe N.V. - Poland Branch
PolandInha Works Ltd. - Poland Branch
Czech RepublicYamaha Motor Europe N.V. - Czech Republic Branch
HungaryYamaha Motor Europe N.V. - Hungary Branch
GermanyYamaha Motor Europe N.V. - Germany Branch (IM)
FinlandYamaha Motor Europe N.V. - Finland Branch
FinlandInha Works Ltd.
Russian FederationYamaha Motor CIS
AustraliaYamaha Motor Australia Pty Limited
AustraliaFiceda Pty Limited
AustraliaYamaha Motor Finance Australia Pty Limited
AustraliaAustralian Motorcycle and Marine Finance Pty Ltd.
AustraliaYamaha Motor Insurance Australia Pty. Ltd.
AustraliaYamaha Motor Solutions India Pvt. Ltd. - Australia Branch
New ZealandYamaha Motor New Zealand Limited
New ZealandYamaha Motor Finance New Zealand Limited
New ZealandYamaha Motor Insurance New Zealand Limited
New ZealandYamaha Motor Solutions India Pvt. Ltd. - New Zealand Branch
MicronesiaTriFork Reinsurance Corporation
IndonesiaPT. Yamaha Indonesia Motor Manufacturing
IndonesiaPT. Yamaha Motor Nuansa Indonesia
IndonesiaPT. Yamaha Motor Parts Manufacturing Indonesia
IndonesiaPT. Yamaha Motor Electronics Indonesia
IndonesiaPT. Yamaha Motor Mold Indonesia
IndonesiaPT. Yamaha Motor R&D Indonesia (YMRID)
IndonesiaPT Otoraja Network Indonesia
PhilippinesYamaha Motor Philippines Inc.
PhilippinesLIYAM Property Inc.
PhilippinesYamaha Robotics Philippines, Inc.
ThailandThai Yamaha Motor Company Limited
ThailandYamaha Motor Parts Manufacturing (Thailand) Company Limited
ThailandTYMA Company Limited
ThailandYamaha Motor Electronics Thailand Company Limited
ThailandYamaha Motor Asian Center Company Limited
ThailandYamaha Robotics (Thailand) Co., Ltd.
ThailandYamaha Robotics Manufacturing Asia Co., Ltd.
MalaysiaHL Yamaha Motor Research Centre Sdn. Bhd.
MalaysiaYamaha Robotics (Malaysia) Sdn. Bhd.
MalaysiaYamaha Motor Compay Limited - Malaysia Branch
VietnamYamaha Motor Vietnam Company Limited
VietnamYamaha Motor Parts Manufacturing Vietnam Company Limited
VietnamYamaha Motor Electronics Vietnam Company Limited
VietnamYamaha Robotics Engineering Asia Co., Ltd.
IndiaYamaha Motor India Pvt. Ltd.
IndiaIndia Yamaha Motor Pvt. Ltd.
IndiaYamaha Motor India Sales Pvt. Ltd.
IndiaYamaha Motor Research and Development India Pvt. Ltd.
IndiaYamaha Motor Electronics India PVT.Ltd.
IndiaYamaha Motor Solutions India Pvt. Ltd.
IndiaMoto Business Service India Pvt. Ltd.
PakistanYamaha Motor Pakistan Pvt. Ltd.
SingaporeYamaha Motor Asia Pte. Ltd.
SingaporeYamaha Motor Distribution Singapore Pte. Ltd.
SingaporeYamaha Robotics Asia Pte. Ltd.
TaiwanYamaha Motor Taiwan Company Limited
TaiwanYamaha Motor Taiwan Trading Company Limited
TaiwanYamaha Motor R&D Taiwan Company Limited
TaiwanYamaha Motor Electronics Taiwan Company Limited
TaiwanTopmost Consulting Company Limited
TaiwanYamaha Robotics Taiwan Co., Ltd
KoreaYamaha Robotics Korea Co., Ltd.
ChinaYamaha Motor (China) Co. Ltd (YMCN)
ChinaShanghai Yamaha Jianshe Motor Marketing Compnay Limited
ChinaZhuzhou Yamaha Motor Shock-absorber Company Limited
ChinaYamaha Motor R&D Shanghai Company Limited
ChinaYamaha Motor Power Products Jiangsu Company Limited
ChinaYamaha Motor Electronics Suzhou Company Limited
ChinaYamaha Motor Solutions Company Limited Xiamen
ChinaYamaha Motor IM Suzhou Company Limited
ChinaShinkawa (Shanghai) Co., Ltd.
ChinaApic Yamada Technology (Shanghai) Co., Ltd.
ChinaShanghai Apic Yamada Co., Ltd.
Republic of PanamaYamaha Motor Co., Ltd. Panama
KenyaYamaha Motor Co., Ltd. Kenya
MoroccoYamaha Motor Co., Ltd. Morocco
UgandaWBPF Consultants.LTD
TanzaniaCourieMate Tanzania
NigeriaMOTO BUSINESS SERVICE NIGERIA LIMITED
BrazilYamaha Motor da Amazonia Ltda.
BrazilYamaha Motor do Brasil Ltda.
BrazilYamaha Motor Componentes da Amazonia Ltda.
BrazilYamaha Motor do Brasil Corretora de Seguros Ltda.
BrazilYamaha Motor do Brasil Servicos Financeiros Participacoes Ltda.
BrazilBanco Yamaha Motor do Brasil S.A.
BrazilYamaha Administradora de Consorcio Ltda.
BrazilYamaha Motor do Brasil Logistica Ltda.
BrazilYamaha Motor Electronics do Brasil Ltda.
ArgentinaYamaha Motor Argentina S.A.
ArgentinaYamaha Motor Plan Argentina S.A. de Ahorro para Fines Determinados
PeruYamaha Motor del Peru S.A.
PeruYamaha Motor Selva del Peru S.A.
UruguayYamaha Motor Uruguay S.A.
ColombiaIndustria Colombiana de Motocicletas Yamaha S.A.
ColombiaYamaha Motor Finance Colombia S.A.S.
MexicoYamaha Motor de Mexico S.A de C.V.
MexicoYamaha Motor Consorcio Mexico S.A. de C.V.

Tax Information

Income Tax by Country or Region FY2023(Unit: millions of yen)
The Income tax by country or region

※ The above figures are based on Country-by-Country Report, submitted to Japanese Tax Authorities.

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