Human capital management

Basic Approach to Human Capital

As we develop our businesses globally, in addition to creating an organizational structure that can respond promptly to changing and evolving market needs, we believe that we are continually creating Kando* by having individuals and companies share lofty ambitions and cooperate to develop the business and help individuals grow. As our vision for human resources, we have set forth the following three objectives.

1. We will enact measures that allow every person to boldly face their individual challenges, and create a culture that encourages every person to tackle new things, independent of factors such as gender, age, nationality, race and values.
2. We will provide opportunities and support as needed for employees and executives with the motivation to apply themselves to seeking education throughout their lifetimes.
3. We will distinguish ourselves from other companies in human resources by training and cultivating them in the unique style of Yamaha based on the shared values of “Innovation, Excitement, Confidence, Emotion, Ties.”

Therefore, to achieve our ideal state, we want to work with the following kinds of human resources.

1. Human resources who strive independently and autonomously to increase their personal value.
2. Human resources who are able to act with a focus on teamwork.
3. Human resources who will increase the value of the Yamaha brand.

To realize such workplace and human resource development, the Yamaha Motor Group has established the Human Resources Management Group Guidelines and is implementing various initiatives.

Furthermore, to strengthen governance and optimize strategy in human capital management, we established the Human Capital Management Committee in 2024. This committee, composed of executive officers and overseas location leaders, actively discusses major global human capital issues such as human resource investment strategies, enhancing engagement, and promoting diversity. We have also set up a Talent Management Committee to hold deliberations on human resource development plans, assignments and development statuses when it comes to candidates for management positions in the Yamaha Motor Group. Through these means, we will increase employees’ autonomy over their careers while increasing the transparency of future career paths.

Creating Work-Friendly Environments for Individuals Where Diversity is Accepted

To achieve the Yamaha Motor Group’s Corporate Mission of being a “Kando Creating Company,” it is essential that people participating from different backgrounds acknowledge each other and grow in order to display their value to the maximum. From the perspective of sustained growth and continuing to create new value that exceeds the expectations of our customers as well, we believe that the growth and participation of human resources with diverse viewpoints and values is indispensable.

We established the Yamaha Motor Group Diversity, Equity, and Inclusion (DE&I) Policy in September 2023 and shared this policy at our workplaces and subsidiaries, in order to foster an organizational culture where diverse human resources gather and utilize new realizations and discoveries to create value while respecting different viewpoints and values. The focus of the statement is “creating Kando via diversity” as stated in the policy, and its guiding principle is “RESPECT.” (respect, period). “RESPECT.” means that everyone at the Yamaha Motor Group is responsible for interacting with colleagues, customers, suppliers, and other stakeholders with a recognition that the opinions and rights of others have value. Based on that, we have defined focus areas and the Yamaha Motor Group’s position on those areas as we strive to create a workplace where all employees and executives are free to demonstrate their individualities (strengths, experiences, and ideas) to the fullest, regardless of age, gender, sexual orientation, sexual identification, disability, nationality, race, religion/belief, values, or experience.

As an initiative related to “gender,” we are promoting women's active participation by setting a target for the ratio of female managers. The Yamaha Motor Group has set a target to raise the ratio of female managers from 11.1% in 2023 to 13% by 2027. We will continue to pursue initiatives aimed at achieving that target.

In addition, for “LGBTQ+,” which is one of our key focus areas, we have established an external consultation desk at headquarters where employees can seek advice about concerns or difficulties related to gender identity and sexual orientation. Going forward, we will continue to create a workplace environment where every employee can feel safe, accepted, and able to work in their own way, regardless of gender identity or sexual orientation.

The ratio of mid-career hires appointed to management positions at headquarters is approaching the same level as that of employees who joined the company as new graduates. We will continue to appoint people to management positions based on their characters and abilities and regardless of their mode of recruitment or other attributes.

Utilizing Global Human Resources

To globalize our human resources, we are promoting the early identification, career planning, development, and appointment of excellent personnel regardless of their gender, age, nationality, place of birth, or other factor. Specifically, in addition to the ongoing management of successors for global core positions, we have begun expanding a global human resources database aimed at strengthening the identification and development of next-generation global executive talent and enhancing the visibility of human resources.

Furthermore, since 2020, we have introduced the GAP (Global Assignment Policy, formerly the Yamaha Assignment Policy) to promote global personnel transfers, and we have achieved 19 cases to date. We will continue working to expand this initiative.

Human Resource Development

We offer stratified training, selective training for high-potential talents, training to refine specialized functional skills, overseas training systems that develop human resources who are able to succeed at the global level, coaching to enhance performance as an organization with cohesive teamwork, and diversity training. Additionally, to foster a culture of self-learning, we are expanding support for self-development and expanding options for learning along with providing on-demand education.

To establish a mechanism where anyone interested in growing is given the opportunity to do so, we have introduced the Yamaha Motor Learning System (YLS) online and on-demand learning platform, and also promoted self-development courses. The number of YLS users has reached approximately 20,000. To provide a wide range of options that meet employees’ diverse learning needs, the scope of the cafeteria plan* has been expanded to cover external self-development courses, seminars, online language courses, online learning services, and the purchase of self-development textbooks and books. We have also been running a selective training program to develop global management personnel since 2015, which a total of 155 persons have taken part in.

* The cafeteria plan is a “selective welfare benefit system” that allows employees to choose from a menu of benefits defined by the company according to their individual lifestyles and receive financial support.

（Note）

1. The Global Executive Program and Yamaha Business School Global are held every other year.
2. Not implemented in 2022 due to the COVID-19 pandemic.

(Note)

1. Excludes compliance education, training on legal matters such as occupational health and safety, and new employee training. In addition, due to the expansion of self-development course opportunities starting in 2024 (changing from a company-designated course system to one where individuals can freely choose), it became difficult to track hours for self-development courses. Therefore, hours related to self-development have been excluded, and the figures recalculated retroactively.
2. Excludes internal personnel expenses, facility operation costs, etc.
3. Includes only locations of Group companies in Japan that submitted data.

Employee Engagement

To embody the human resource mission statement “Challenge & Growth,” we position employee engagement as one of our key indicators. Based on the results of the annual survey, we reflect on the condition of each company and organization and are promoting efforts company-wide to create an environment that increases Yamaha Motor-specific challenges. Under the new Medium-Term Management Plan starting in 2025, we have set a global target of maintaining an engagement positive score of 80% or higher. In 2024, the global score was 82%, and the non-consolidated Yamaha Motor score was 63%, so we are placing particular emphasis on initiatives at Yamaha Motor.

At the non-consolidated Yamaha Motor level, continuous efforts since 2020 have led to a gradual improvement in the score, and initiatives at the company-wide and workplace levels are becoming established. While continuing these efforts and aiming for further improvement, we are placing value on the Company’s strengths identified through survey results—such as a culture of mutual support within organizations and a culture in which employees proactively drive improvements. We have identified two key drivers that have a particularly strong correlation with engagement and are advancing company-wide measures focused on them. In addition, we are promoting autonomous organizational development at the individual and organizational level, incorporating engagement initiatives into all line managers as “Revup Targets” in their management by objection, and continuing to facilitate dialogue within each organization based on survey results.

Key Driver 1: Fostering a Sense of Expectation for the Future

To convey the Company’s challenges and the intentions of management, we hold “Revs Meetings” as opportunities for dialogue between management and employees. This event encourages open and lively discussions that transcend business divisions and job titles. In 2024, approximately 1,000 employees and 21 members of management participated in the meetings. In addition to enhancing participant motivation, the meetings have led to noticeable changes in employees’ perceptions of the Company. We will, therefore, continue to hold these meetings going forward.

Key Driver 2: Creating an Environment Where Employees Feel a Sense of Fulfillment in Their Work

To create opportunities where anyone can take on challenges, we introduced a new human resource system in 2025 that eliminates the general employee job classification. In addition, to further support employees’ willingness to take on challenges, we are expanding the in-house recruitment system (Self Career Challenge) and the in-house side job system (In 2024, 136 employees used these systems to transfer positions or take on in-house side jobs). Furthermore, to help employees improve their skills, we are continuously implementing 1-on-1 training for all managers and expanding self-selected training programs.

(Note)

Calculated by dividing the total of each company’s engagement score by the number of companies

Preventing Harassment

In light of the rapidly growing need to address and adapt to human rights risks throughout the supply chain, the Yamaha Motor Group has stipulated in its Code of Ethics that it forbids slander against employees concerning matters pertaining to their race, nationality, philosophy of life, bodies, personality, families, etc., forbids words and actions that deny an individual’s personhood, and also forbids sexual harassment and all other actions that constitute harassment. However, anyone can become a perpetrator of harassment without intending to, and once serious incidents of harassment occur, they have the potential to affect not only the victims but also the Company, the organization and even our business activities themselves.

Therefore, we endeavor to foster an organizational culture that makes it hard for harassment to occur through initiatives such as spreading the diversity, equity and inclusion (DE&I) the Group is engaged in and increasing employee engagement. When an incident does occur, we handle it speedily and appropriately, including working to prevent a recurrence, and we continue to raise awareness and undertake educational activities to prevent harassment from ever occurring.

Moreover, in addition to the existing compliance incident reporting contact points for Japan, we have established dedicated consultation points for harassment and labor issues, and we created a reporting line that allow people who suffered or heard or saw harassment to consult someone promptly on the issue.

Promoting Employment and Raising Motivation for People with Disabilities

For people with disabilities, in October 2015, we established Yamaha Motor MIRAI Co., Ltd., to provide a place where they can participate actively in accordance with their capabilities, and to promote their social independence. The company began full-scale operations in 2016, and has expanded its areas of business while holding various events such as company tours and workshop presentations in an effort to enhance the job satisfaction and motivation of employees. In addition, we promote understanding and cooperation throughout the Group by introducing the activities of Yamaha Motor MIRAI through our bulletin boards and company newsletters.

Ratio of Employees with Disabilities at Yamaha Motor

Supporting Work-Life Balance

We support career planning that is based on the assumption of mutual confirmation by both the employee and the Company, and aim to create workplaces that promote a healthy work-life balance.

We are enhancing our systems so that employees can work in ways that suit their individual circumstances, by providing childcare leave, nursing care leave, and family illness leave, as well as systems such as flexible work time, short working hours, and the rehiring of employees who resigned to accompany their spouse on overseas postings. For childcare leave in particular, we actively share examples of taking the leave and our efforts to create an environment where it is easy to take it, and we are working to increase the percentage of male employees who take it. (The rate of men taking childcare leave in 2024, including postnatal paternity leave, was 84.2％). We are also working to support employees raising children through “Wai-Wai Land,” an in-house childcare facility providing broad-based support for both “work and family.” In 2016, we expanded the size of this facility and increased the number of children who can be accepted.

Since 2021, under “Work in my style, work in Yamaha style.”, we have incorporated teleworking to accommodate diversity and introduced special leave in hourly units and a shortened working hour system for injury or illness. Furthermore, since 2023, we have introduced a hybrid work system that combines commuting to the office and remote work, as well as a coreless flextime system, expanding work style options so that employees can continue to work with vitality and passion at any stage of life.

Our policy is to reduce excessive work hours with the aim of reducing overtime, and in consideration of maintaining mental and physical health. We have also established Rules Regarding Overtime Work, which are stricter than the legal requirements, based on labor-management consultations. In addition, the Labor-Management Committee on Working Hours, comprising participants from both the labor union and the Company, meets every month to confirm the present state of working hours.

We also participate in the Human Resources Committee of the Japan Automobile Manufacturers Association (a general incorporated association). We make use of the information obtained through the committee, exchanges of opinions, and other means to check the state at our company as well as to promote initiatives.

Regarding the use of paid leave, we comply with the Work Style Reform Act, set targets between employees and management based on the Act, and promote the taking of paid leave through initiatives including a system for taking consecutive days of paid leave. In particular, we are raising awareness and increasing the effectiveness of this system by sending special notices to those eligible for five consecutive days of paid leave.

The status of leave taken in 2024 is as follows. Childcare leave: 276 (men: 230 (including maternity leave), women: 46), nursing care leave: 6, nursing care leave: 12 (13 days taken), and life support leave: 3,373 (9,792 days taken).

In addition to measures for work style, we introduced a Cafeteria Plan in 2023. Employees can select from a menu of benefits set by the company to suit their individual lifestyle and receive subsidies. The system provides a variety of benefits for families; for example, child-raising and child care subsidies, family care subsidies, and travel expense subsidies.

Occupational Health and Safety

Stance and Policies

As stated in the Group’s Sustainability Basic Policy, we think that the health and safety of our employees is a foundation of the Company’s growth, and thus we work to improve working environments. To foster a culture of “Safety and Health First” and entrench initiatives aimed at reducing occupational accidents to zero throughout the entire Group, we have formulated the Yamaha Motor Group Basic Policy on Occupational Health and Safety, which further clarifies the contents of the Sustainability Basic Policy, as well as action guidelines, and targets for reducing occupational accidents. Along with endeavoring to ensure health and safety with the participation of all employees, we are pursuing the creation of comfortable working environments and trying to make the execution of duties smoother to lead to greater productivity.

Promotion Structure

At Yamaha Motor Co., Ltd., under this policy, the Central Safety and Health Committee (chaired by the chief general manager of the Human Resources & General Affairs Center and comprising occupational health physicians, representative supervisors of manufacturing, technology, and administrative divisions, and the labor union, among others), with authority delegated to it by the President and Chief Executive Officer, spearheads efforts to provide safe and healthy work environments that comply with standards, regulations and labor agreements concerning industrial safety and health. It also incorporates various activities aimed at achieving zero accidents into medium-term and annual plans. The supervising division for occupational health and safety is also expanding these initiatives to group companies in various countries.

Promoting the Occupational Health and Safety Management System

At Yamaha Motor Co., Ltd., we restructured our existing Occupational Safety and Health Management System (OSHMS) in 2023 and acquired certification for ISO 45001, an international standard. To continuously eliminate and reduce occupational health and safety risks in a planned manner based on workplace risk assessments, we are working to prevent occupational accidents. Furthermore, to heighten the safety awareness of all employees, in addition to education and courses based on the regulations, we endeavor to provide a full range of lessons and training courses such as risk assessment and practical hazard prediction training.

In May 2023, an occupational accident occurred at the Company’s Hamakita Factory (Hamakita-ku, Hamamatsu City) in which one employee working on the processing of engine components passed away. To prevent such serious occupational accidents from ever happening again, the Group as a whole is undertaking initiatives to prevent a recurrence, including conducting a comprehensive inspection of the safety of equipment and machinery and corresponding countermeasures, and reducing and eliminating risks through a thorough risk assessment. We are also continuing our efforts to raise safety awareness by establishing “Safety Day.”

In preparation just in case an emergency situation should occur, we have established reporting standards, methods, contact routes and emergency response procedures for the occurrence of workplace injuries, ill health, sickness and accidents, and we regularly conduct response drills to heighten their effectiveness. Moreover, when an occupational accident does occur, we place the highest priority on assisting the victims, and we investigate the accident scene, clarify procedures for identifying the cause, and strive to prevent a recurrence. We also conduct regular internal audits, verify the effectiveness of the management system and continuously improve the system.

At Group companies, as of the end of 2024, 19 companies, mainly manufacturing companies, had individually obtained ISO 45001 certification. Going forward, we will establish Occupational Health and Safety Management Systems based on ISO 45001 at other manufacturing locations as well and promote unified certification (global certification) in sequence to enhance the overall level of occupational health and safety and strengthen governance across the Yamaha Motor Group.

We have drawn up work safety procedures for external contractors as well in an effort to prevent occupational accidents.

We monitor situations with regard to occupational illnesses (caused by exposure to chemical substances, organic solvents, dust, etc.) through workplace patrols, special health examinations, and we improve the workplace environment as necessary. We also endeavor to create safe and pleasant workplaces based on ergonomics.

Safety Education and Training

We are focused on developing human resources who can support workplace safety and a healthy environment through education and training to improve the skills of safety managers, supervisors, operations chiefs and others in similar roles, and by holding events such as occupational safety and health meetings. The main education and training programs on workplace safety held in 2024 are as follows. These were also carried out at group companies in Japan, and we are actively implementing training and education on health and safety at overseas group companies as well.

Number of Occupational Accidents

In 2023, there were no fatal accident at Yamaha Motor Co., Ltd.,^*1 11 accidents requiring an absence from work, and 29 accidents that did not require an absence for a total of 40 accidents (including occupational illnesses). Across the Yamaha Motor Group^*2, there were no fatal accidents and 137 accidents requiring an absence from work in 2024.

The number of fatalities from occupational accidents throughout the Yamaha Motor Group from 2022 onwards was two in 2023 and none in 2024.

We disseminate information about accidents that occur company-wide in an effort to prevent recurrence.

Injury Frequency Rate^*3

*1

The scope of coverage for 2022 is regular employees including executive officers and part-time workers. The scope for 2023-2024 is regular as well as dispatch employees, including executive officers and part-time workers.

*2

The scope for 2022 is Yamaha Motor Co., Ltd. and consolidated subsidiaries and affiliated companies with manufacturing capabilities, a total of 31 companies. In 2023, the scope of coverage was expanded to encompass a total of 118 companies including Yamaha Motor Co., Ltd., consolidated subsidiaries and affiliated companies (YMC, 102 consolidated subsidiaries, three non-consolidated subsidiaries, eight subsidiaries not accounted for by the equity method, four affiliated companies). In 2024, the scope of coverage was a total of 141 companies including Yamaha Motor Co., Ltd., consolidated subsidiaries and affiliated companies (YMC, 124 consolidated subsidiaries, three non-consolidated subsidiaries, 11 subsidiaries not accounted for by the equity method, two affiliated companies).

*3

Rate of occurrence of occupational accidents requiring absence from work for one or more days per 1 million total actual working hours.

*4

Third parties, excluding indirectly outsourced labor, carrying out certain types of contract-based work for our business on the Company's premises.

Relationship with Labor Union

Yamaha Motor has concluded a labor agreement with its labor union “to establish working conditions and management systems that are based on mutually fair understanding and good faith.” Under this agreement, the Company provides the labor union with appropriate explanations of various measures to be implemented and publishes reports on labor management in an effort to ensure employees’ understanding of these issues. Moreover, the Company holds labor-management conferences and committee meetings regularly, as well as additional labor-management conferences taking up themes based on management initiatives or to address issues raised by the labor union. Officers of the labor union also participate in the management and operation of the corporate pension fund, the health insurance cooperative, and the mutual aid association.

As for ensuring the payment of minimum wages, not only do labor and management conclude agreements each year committing to the minimum wage, discussions between labor and management are also carried out regarding appropriate wage levels, including those using the consumer price index as a basis.

Yamaha Motor adopts a union shop system in which non-managerial employees are members of the labor union, and the participation ratio is 84% of all employees. Domestic Group companies have also established labor unions or labor committees and engage in labor-management dialog through those bodies. Labor unions of Group companies, including the Yamaha Motor Labor Union, are members of the Federation of All Yamaha Workers Unions and pursue mutual cooperation through the federation. Overseas Group companies have established structures for engaging in appropriate labor-management dialog based on the labor practices of the respective country or region, and wages are paid in compliance with local regulations.

Addressing Overseas Labor Risks

Many of our production sites are located in ASEAN member states, India, and China, where the risk of labor disputes is high. Accordingly, situations in these countries must be watched closely as we carry on our business activities. For this reason, we incorporate "shutdown due to labor disputes (strike, etc.)" into a risk management ledger employed across the Group, so that we can use it to monitor self-inspections and development of countermeasures.

Manufacturing companies regularly collect information about the legislation in each country and regional labor issues, work to strengthen labor-management relations, and ensure people know where to report and discuss labor issues. At the headquarters, we are working on sharing the know-how within the Group and maintaining and strengthening the communication system for emergencies, leveraging the knowledge accumulated over the years on labor dispute cases.

In 2024, there was no noteworthy occurrence of any labor issues.