Corporate Profile - Yamaha Corporation
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Corporate Profile
Sharing Passion & Performance Message from the President
Our history began in 1887 when Yamaha founder
Torakusu Yamaha completed a difficult repair job on
a reed organ at a Japanese primary school. Perhaps no
one thought at the time that this event would mark
the beginning of 130-plus year history during which
Yamaha would become a world-leading brand in musical
instruments, other products, and services dear to the
hearts of people everywhere.
True to its slogan, “Sharing Passion & Performance,” the our customers to propose products and services that
Yamaha Group helps enrich people’s lives day in and will stir their hearts over a lifetime.
day out. Since our founding in 1887, we have offered
the world a rich scope of products and services focused Looking ahead, we will be making every effort to
on sound and music. We want to create excitement and ensure that we continue to be an “Indispensable,
inspiration everywhere, joyfully highlighting music in Brilliantly Individual Company,” always honoring long
life, education, and culture. and close relationships with our customers. From the
bottom of our heart, all of us at Yamaha will always
We are deeply committed to creating customer value sincerely appreciate your ongoing support.
by offering products and services that draw on our
reservoir of technology, know-how, and musical
sensitivities. We have accumulated these values over
our long history and are keen to addressing new
challenges with a passion going beyond our customers’
expectations, always renewing our inspiration, and Takuya Nakata
theirs. We are dedicated to engaging proactively with President and Representative Executive Officer
Yamaha Corporation
2 3
Summary of Businesses Musical Instruments
Segment Sales Composition Drawing on the strengths we have nurtured as the The Yamaha Corporation Group’s core business begins
world’s largest manufacturer of musical instruments, with the manufacturing and marketing of musical
Others
we are driving ahead globally in our three fields of instruments, and spans the management of music and
musical instruments, audio equipment, and industrial other schools, in addition to the production and sales
8.5% machinery/components and other. of audio and visual media software. These products
and services, which have earned high marks from
We have Yamaha Group companies and branches music enthusiasts from beginners to professionals,
fiscal
in more than 30 countries and regions, and are are supported by research and development that
2018 expanding operations to meet the needs of customers progress through dialogue with artists as well as fine-
around the world and to deepen our engagement with tuned sales and service activities via networks spread
our valued customers. throughout this wide world.
Audio equipment Musical
instruments Grand Piano
28.1% 63.4%
CFX
Saxophone
YTS-82ZASP
Sales Proportion by Region
Japan
Europe 30.9%
19.6% China North America
Digital Workstation
Genos
Digital Piano
Clavinova CSP-170PE
Bösendorfer
12.5% 20.1% Grand Piano
Dragonfly
fiscal Acoustic Drums
2018 Recording Custom
Other areas
16.9% Line 6
Guitar Processor
Helix Floor
Net Sales Operating Income
(Billions of yen) (Billions of yen) 12.4 (%)
11.3 TransAcoustic Electric Guitar
60 Operating Income 10.9 12 Guitar LL-TA Revstar RSP20CR
432.2 435.5 433.0 442.0 Ratio(%)
410.3 408.2 55.0
50 9.3 10
48.8
44.3
40 7.0 40.7 8 Marimba
6.3
YM-6100
30 30.1 6 Yamaha
26.0 Music School Pianica
20 4 P-37EBR
10 2
0 0 0 Recorder
3
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YRS-401
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20 t f
20 t f
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20
20
20
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20
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VOCALOID Keyboard VKB-100
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4 5
Audio Equipment Others
With sound and music at its core, and drawing on Our “Others” business segment comprises the
its accumulated know-how in digital and acoustic Industrial Machinery / Components businesses,
technologies, Yamaha’s audio equipment business including electronic devices , factory automation, and
delivers best-in-class commercial and consumer automobile interior wood components. Other
solutions. The audio equipment business spans businesses also include golf products, and Yamaha’s
professional audio equipment, music production resort business. Our diverse businesses draw on the
equipment and software as well as audiovisual technology, know-how, and sensitivities Yamaha has
equipment, commercial online karaoke systems, accumulated through the manufacturing and
Digital Mixing System network devices and unified communication devices. marketing of musical instruments to offer products
RIVAGE PM10
and services that galvanize the emotions of customers.
Real wood luxury automotive interior components
Graphic controller
for amusement equipment
Advanced Production System YGV637
Nuage
Speaker System
VXS Series / VXC Series
NEXO
Steinberg Speaker Speakers for high resolution
Digital Audio Workstation STM Series personal computers
Software NS-N25
Cubase Pro
Wireless Speaker
WX-010 Modules for in-vehicle,
hands-free telephone calls
Factory Automation Equipment
AV Receiver
AVENTAGE RX-A3080 Hi-Fi Component
A-S3000
Hydrogen detector
Peltier modules YHLD-100
Premium Bookshelf Speaker
YKH Series
Digital Sound Projector NS-5000
YSP-5600
Revolabs
Wireless Microphone System
Executive Elite Series
USB Conference Speakerphone
YVC-1000
Simple L2 Switch
SWX2100-24G
VPN Concentrator
RTX5000
Video Sound Collaboration System Golf Product
for Huddle Rooms inpres UD+2 RMX 218
CS-700 Driver Driver KATSURAGI Hotel Kitanomaru
6 7
Research & Development Design
Over its long history of manufacturing acoustic instruments and audio equipment, Yamaha has developed Based on its integrated design policy expressed in its products throughout the world.
instruments, Yamaha has produced a broad array of groundbreaking electronics technology. By drawing on Yamaha Design Philosophy, Yamaha continues to impart Yamaha’s design has achieved marks, winning a number
original technologies, guided by the expertise passed on the strengths of these technologies and fusing them, its original and engaging style across a wide range of of notable design awards from authoritative sources.
from generation to generation and our keen sensitivity Yamaha continues to create value in unique ways as well
about sound creation. While in the field of digital as new ways to enjoy and utilize sound and music. iF Design Award Gold Award
iF Design Award Red Dot Design Award
Red Dot Design Award Best of the Best German Design Award
Electric Guitar German Design Award
Electric Violin Design for Asia Award Grand Award
Core Technologies REVSTAR™ GOOD DESIGN AWARD YEV GOOD DESIGN AWARD
In the musical instruments domain, Yamaha has a long superior sound and making outstanding performance possible.
history of R&D related to processing wood, metal, and other In the audio equipment sphere, Yamaha draws on its strengths
materials and draws on this legacy to present its customers in advanced software and electronic technologies, primarily
with more and more fulfilling sound and music experiences. in digital signal processing and network technologies and
What is more, through ongoing research of technologies on leverages its expertise as well as its know-how about sound
the mechanisms of keyboard actions, sound generation and in innovative ways. Yamaha offers high-value-added products
effects, and acoustics, we have a passion for developing like AV products and PA equipment as well as network devices.
HiFi Speaker Diaphragms
VCM (Virtual Circuitry Modeling) Technology Yamaha uses a newly developed speaker Red Dot Design Award
Research on instrument structure To recreate the richness of sound obtained from diaphragm materials in all the units of German Design Award
Yamaha constantly evolves its instruments analogue audio equipment, VCM technology makes these speakers to give listeners smooth
Casual Wind Instrument GOOD DESIGN AWARD Mobile Mini Keyboard
GOOD DESIGN AWARD
by using its cutting-edge technologies to it possible to do precise modeling from the circuit and precise reproduction over the full Venova™ Grand Award reface™ Good Design Best 100
study how acoustic musical instruments element level to the overall circuit in the world’s audible range.
vibrate and transmit sound. best audio equipment.
Fusion of Core Technologies
Yamaha fuses its technologies to invent new hybrid instruments and to enhance its existing
products.
TransAcoustic Piano
TransAcoustic Piano is a hybrid piano that combines an acoustic piano and a digital piano.
By using a transducer, which is an oscillating mechanism, the vibrations produced by the
digital system are transmitted efficiently to the acoustic piano’s soundboard, and, without
using a speaker system, the sound emerges directly from the soundboard. TransAcoustic Piano
Initiatives in New Businesses
Digital Workstation iF Design Award Gold Award Premium Bookshelf Speaker iF Design Award
Omotenashi Guide™ ViReal™
Yamaha’s "Omotenashi* Guide" helps promote inbound ViReal is a recording, editing, and reproduction technology
Genos™ Red Dot Design Award NS-5000 GOOD DESIGN AWARD
tourism and barrier-free initiatives by receiving translations that captures 3D sounds in a real world fashion.
of Japanese-language announcements in written formats on Listening with headphones and multi-speakers installed with
smartphones and tablet devices. ViReal technology, users can experience a greater depth and
*"Omotenashi" in Japanese means "hospitality." presence of sound than ever before imagined.
Translation into multiple languages
Audio
announcements
in Japanese
8 9
Sustainability
Through its business activities, the Yamaha Group The “School Project”
undertakes activities, which we call sustainability
Music education programs teaching children how to play musical
initiatives to contribute to the creation of sustainable instruments have been adopted in schools around the world. However,
societies. due to the lack of equipment and instructors, as well as curriculum
With our unique expertise and sensibilities gained from issues, in some countries instrumental music education is not provided,
our devotion to sound and music, Yamaha is committed or is of insufficient quality. Yamaha is developing its “School Project” to
to contributing to the further development of musical offer opportunities to play musical instruments and allow as many
culture and affluent societies. Along with these activities, children as possible to experience the joy of playing musical
instruments.
Yamaha believes it is important to address global-
level environmental issues, such as climate change In 2015, Yamaha began to offer “Music Time,” which is a program
A “Music Time” activity at an Indonesian public primary school
and maintenance of biodiversity as well as implement comprising a package that includes musical instruments, teaching
initiatives to addressing social issues, including promotion materials and teachers’ training, and is offered mainly to public primary
of diversity and human rights. schools in Malaysia, Indonesia, and Russia.
In Vietnam, in cooperation with that country’s Ministry of Education
The United Nations Global Compact (UNGC) is a
As a signatory to the United Nations Global Compact and Training, since 2016 Yamaha is taking initiatives to support the
voluntary code of conduct that encourages businesses
(UNGC), Yamaha observes the Compact’s Ten Principles introduction of instrumental music education into music school
worldwide to act as good corporate citizens, by
of corporate behavior and, at the same time, aims curricula for primary and secondary-school education.
observing principles in the four general areas of human
to contribute to the attainment of the Sustainable rights, labor, the environment, and anti-corruption,
Development Goals (SDGs) that have been set as common and promotes business participation in a worldwide
objectives for international society. framework that will realize sustainable growth. Recorder trial class in Vietnam
Yamaha became a signatory to UNGC in June 2011,
and cooperates actively with Global Compact Network
Looking ahead, as business activities become more global
in scope, Yamaha will endeavor to raise awareness of
Japan in such ways as managing subcommittees. Orchestra and Band Support Activities for Youth Development
responsibility to society and social contribution within In the countries of Latin America, juvenile crime and delinquency
the Yamaha Group as a whole and will take initiatives to are becoming more serious. Governments are working to provide
address issues related to realizing sustainable societies. music education free of charge, and orchestras and bands have
been formed to promote the healthy development of young people.
Yamaha has supported these activities for many years to allow many
young people to participate. In 2014, Yamaha instituted its “AMIGO
Project” to further strengthen these activities. Under this project,
workshops are held to teach the young performers how to maintain
their instruments in good condition by themselves. Also, to provide
additional support for putting broken instruments back in working
Brass band supported by Yamaha Music Latin America, S.A.
order, Yamaha is helping to train repair technicians. Through these
activities, Yamaha is working to create better environments where
Yamaha Eco-Products Program young people are able to continue their music performance.
Guided by its Environmental Policy, the Yamaha Group is
working hard to create environmentally friendly products to
Initiatives Aimed at Sustainable Use of Wood Resources
contribute to a sustainable society. To support this effort,
Yamaha established the Yamaha Eco-Products Program in The Yamaha Group uses a diversity of wood species mainly for
2015, which certifies environmentally friendly products that manufacturing musical instruments, and accordingly, is implementing
meet standards established by the Company. initiatives aimed at ensuring the sustainability of wood resources.
Beginning in 2015, Yamaha launched a survey of African Blackwood
The Yamaha Eco-Label is attached to products that meet the Example of certified products (Dalbergia melanoxylon), which is a rare wood used in wind
Company’s standards. By providing customers with easy-to- AV Receiver “RX-V583”
instruments, in the regions of origin in Tanzania. Also, in 2016, with
Reason for certification: reduction of network-standby
understand information on the environment, the program power consumption
support from the Japan International Cooperation Agency (JICA),
aims to assist customers in selecting which products to Yamaha instigated a forest conservation project in collaboration with
purchase. local NGOs, which is aimed at combining sustainable community
forestry with planting activities in natural forests. Through these
Tree planting activities in January 2018 in Tanzania
activities, Yamaha is working to create a business model that can
achieve sustainable development in local communities as well as stable
timber procurement.
10 11
Main Networks (As of June, 2018)
Domestic Network Overseas Network
■ Sales companies, etc.
● Manufacturing / production companies, etc.
● Music entertainment business companies
● Retail shops (Yamaha Music Retailing Co., Ltd.)
1
12 23
Yamaha Music Europe
20
17
50
16
18 13 24 21 19 25 Yamaha Corporation of America
Yamaha Electronics (Suzhou) 5
7
15 22 33 35 6
30 27 28 29 1 2 3 4
2 14
31 32 26
49 48
34
8
37 38 46 47
9
Headquarters 12 13 14 15 16 Yamaha Ginza 39 40 41 42 43 36
3 4 5 6 7 44 45 Yamaha Music & Electronics (China)
8
11
17
9
10
51
Yamaha Indonesia
10 11
Company name Location Company name Location
■
1 Yamaha Corporation of America California, U.S.A. ■
26 Yamaha Music & Electronics Taiwan Co., Ltd. New Taipei, Taiwan
Yamaha Music Manufacturing Japan Corporation ●
2 Yamaha Music InterActive, Inc. California, U.S.A. ■
27 Yamaha Music & Electronics (China) Co., Ltd. Shanghai, China
●
3 YMH Digital Music Publishing, LLC *2 California, U.S.A. ■
28 Yamaha Music Technical (Shanghai) Co., Ltd. Shanghai, China
●
4 Yamaha Guitar Group, Inc. California, U.S.A. ■
29 Yamaha Trading (Shanghai) Co., Ltd. Shanghai, China
●
5 Yamaha Unified Communications, Inc. Massachusetts, U.S.A. ●
30 Yamaha Electronics (Suzhou) Co., Ltd. Suzhou, China
Company name Location Company name Location
■
6 Yamaha Artist Services, Inc. New York, U.S.A. ●
31 Xiaoshan Yamaha Musical Instruments Co., Ltd. Hangzhou, China
●
1 Kitami Mokuzai Co., Ltd. Mombetsu-gun, Hokkaido, Japan ■9 Yamaha Resort Inc. Fukuroi, Shizuoka, Japan ■
7 Yamaha Canada Music Ltd. Toronto, Canada ●
32 Hangzhou Yamaha Musical Instruments Co., Ltd. Hangzhou, China
●
2 Sakuraba Mokuzai Co., Ltd. Kitaakita, Akita, Japan ●
10 Yamaha Music Manufacturing Japan Corporation Iwata, Shizuoka, Japan ■
8 Yamaha de México, S.A. de C.V. Mexico City, Mexico ●
33 Tianjin Yamaha Electronic Musical Instruments, Inc. Tianjin, China
■
3 Yamaha Music Japan Co., Ltd. Minato, Tokyo, Japan ●
11 Yamaha Hi-Tech Design Corporation Iwata, Shizuoka, Japan ■
9 Yamaha Music Latin America, S.A. Panama City, Panama ●
34 Shenzhen Yamaha Music & Electronics Trading Co., Ltd *1 Shenzhen, China
■
4 Yamaha Music Retailing Co., Ltd. Minato, Tokyo, Japan ■
12 Yamaha Piano Service Co., Ltd. Hamamatsu, Shizuoka, Japan 10 ■
10 Branch in Argentina Buenos Aires, Argentina ■
35 Yamaha Music Korea Ltd. Seoul, South Korea
●
5 Yamaha Sound Systems Inc. Chuo, Tokyo, Japan ■
13 Yamaha Business Support Corporation Hamamatsu, Shizuoka, Japan ■
11 Yamaha Musical do Brasil Ltda. São Paulo, Brazil ■
36 Yamaha Music (Asia) Pte. Ltd. Singapore
●
6 Yamaha Music Entertainment Holdings, Inc. Shibuya, Tokyo, Japan ■
14 Yamaha Ai Works Co., Ltd. *1 Hamamatsu, Shizuoka, Japan ■
12 Yamaha Music Europe GmbH Rellingen, Germany ■
37 Yamaha Music (Malaysia) Sdn. Bhd. Petaling Jaya, Malaysia
●
7 Yamaha Music Communications Co., Ltd. Shibuya, Tokyo, Japan ■
15 Yamaha Fine Technologies Co., Ltd. Hamamatsu, Shizuoka, Japan ■
13 Branch in France Croissy-Beaubourg, France ●
38 Yamaha Electronics Manufacturing (M) Sdn. Bhd. Chemor, Malaysia
■
8 Matsukiya Co., Ltd. Fukui, Japan ●
16 Yamaha Travel Service Co., Ltd. Hamamatsu, Shizuoka, Japan ■
14 Branch in Italy Milan, Italy ●
39 PT. Yamaha Indonesia East Jakarta, Indonesia
■
17 Jeugia Corporation *2 Kyoto, Japan ■
15 Branch in Ibérica Madrid, Spain ●
40 PT. Yamaha Music Manufacturing Indonesia East Jakarta, Indonesia
*1 Non-consolidated subsidiaries and affiliates *2 Equity-method affiliates ■
16 Branch in the U.K. Milton Keynes, U.K. ■
41 PT. Yamaha Musik Indonesia (Distributor) Central Jakarta, Indonesia
■
17 Branch in Scandinavia Gothenburg, Sweden ●
42 PT. Yamaha Music Manufacturing Asia Bekasi, Indonesia
■
18 Branch in Switzerland Thalwil, Switzerland ●
43 PT. Yamaha Musical Products Asia Bekasi, Indonesia
■
19 Branch in Austria Vienna, Austria ●
44 PT. Yamaha Musical Products Indonesia Pasuruan, Indonesia
Two Yamahas, One Passion: Yamaha Corporation and Yamaha Motor Co., Ltd. ■
20 Branch in Benelux Vianen, Netherlands ●
45 PT. Yamaha Electronics Manufacturing Indonesia Pasuruan, Indonesia
In 1955, Yamaha’s motorcycle division was split off from Yamaha (called Nippon Gakki Co., Ltd., at that time), thus giving birth to a new ■
21 Branch in Poland Warsaw, Poland ■
46 Siam Music Yamaha Co., Ltd. *1 Bangkok, Thailand
company. Although both companies are independent in terms of management, they share the goals of helping to enrich people’s lives and ■
22 Branch in Turkey Istanbul, Turkey ■
47 Yamaha Music Vietnam Company Ltd. Ho Chi Minh City, Vietnam
contribute to the community and culture through sharing passion and performance with and offering new excitement to customers. ●
23 Steinberg Media Technologies GmbH Hamburg, Germany ■
48 Yamaha Music India Pvt. Ltd. Gurgaon, India
To realize the missions of the Yamaha brand, the main business of Yamaha Corporation is sound and music and the principal business of ●
24 Nexo S.A. Plailly, France ■
49 Yamaha Music Gulf FZE Dubai, U.A.E.
Yamaha Motor is providing personal mobility. Each company is working to responsibly create shared value with its stakeholders. ●
25 L. Bösendorfer Klavierfabrik GmbH Wiener Neustadt, Austria ■
50 Yamaha Music (Russia) LLC. Moscow, Russia
■
51 Yamaha Music Australia Pty. Ltd. Melbourne, Australia
12 13
Our History Yamaha Philosophy
The Yamaha Group is steadily expanding its business cultivated in its 130-year history, Yamaha will continue The Yamaha Philosophy expresses the philosophical and try to think from the customer's viewpoint, and
operations guided by its Corporate Philosophy which to create products and services that contribute to the framework of the Yamaha Group and consists of five consistently provide high quality products and services
continues to be upheld to this day. Drawing upon the development of musical culture and the enrichment of elements: the Corporate Slogan, Corporate Philosophy, that exceed the expectations of our customers, and to
accumulated unique Yamaha qualities that Yamaha has society. Customer Experience, Yamaha Way (mindset and create excitement and cultural inspiration together with
manners), and Yamaha Quality (criteria for quality). people around the world.
We utilize the Yamaha Philosophy as a foundation,
1887 Company founder Torakusu Yamaha 1966 Establishes Yamaha Music Foundation (becomes
repairs elementary general incorporated foundation in 2011)
school’s reed organ Expands into Europe with founding of Yamaha Europa
and successfully GmbH in former West Germany Corporate Slogan Sharing Passion & Performance
builds his first reed The Corporate Slogan is a more concise statement of the Yamaha Philosophy.
organ 1968 Issues shares at market price (the first such issuance
in Japan) Corporate Philosophy
The Yamaha Philosophy defines the reason for Yamaha’s existence as a company and
the goals that we seek to achieve through our work together.
1971 Begins production of semiconductors
1889 Establishes Yamaha Fukin Seizoujo (currently Yamaha Customer Experience
Corporation) 1980 Establishes Yamaha Piano Technical Academy, a piano The Customer Experience exemplifies the meaning of “Sharing Passion &
tuner training school Performance” from the customer’s viewpoint. When customers experience,
1897 Establishes Nippon use, or own Yamaha products and services, they should experience a
Gakki Co., Ltd. 1987 Changes corporate name from Nippon Gakki Co., profound response that will stimulate both their emotions and senses.
(currently Yamaha Ltd. to Yamaha Corporation to mark 100th year in
Corporation) business Yamaha Quality
Opens Yamaha English-language school The Yamaha Quality is a set of criteria that supports Yamaha’s insistence on quality in
products and services and our dedication to excellence in manufacturing. These criteria
assist in making the Corporate Philosophy a reality.
1900 Begins production of upright pianos 1989 Establishes subsidiary in China, Tianjin Yamaha
Electronic Musical Instruments, Inc., for manufacture Yamaha Way
and sale of digital musical instruments The Yamaha Way explains the mindset that all employees of the Yamaha Group should adopt, and the
1949 Lists on Tokyo Stock Exchange manner in which they should act on a daily basis, in order to put the Corporate Philosophy into practice.
2002 Establishes Yamaha Music & Electronics (China) Co., Ltd.
Establishes Yamaha Music Holding Europe GmbH in
1954 Establishes Yamaha Music Germany (currently Yamaha Music Europe GmbH)
School and holds pilot classes
Produces its first audio product
(HiFi player)
2005 Acquires German audio software house Steinberg
Media Technologies GmbH
Corporate Data (As of March 2018)
Begins production of
Company Name Yamaha Corporation Number of Employees 20,228 (Excluding average number of temporary employees:
motorcycles 2008 Acquires Austrian piano manufacturer L. Bösendorfer (Consolidated) 7,558)
Klavierfabrik GmbH Headquarters 10-1, Nakazawa-cho,
Naka-ku, Hamamatsu, Number of Employees Japan: 5,845, North America: 789, Europe: 1,086, China:
Acquires French loudspeaker manufacturer NEXO S.A. Shizuoka 430-8650, Japan by Region 5,335, Others: 7,173
1955 Establishes Yamaha Motor Co., Ltd. (splits off
Year of Foundation 1887 Number of Subsidiary 63 (of which 59 are consolidated companies)
motorcycle division) 2010 Completes integration of Companies
Japanese piano factories Date of Incorporation October 12, 1897
Number of Affiliated 6
1958 Establishes first overseas into Kakegawa plant Paid-in Capital ¥28,534 million
Companies
subsidiary, Yamaha de Net Sales ¥433.0 billion
México S.A. in Mexico
Begins production of
sports equipment 2012 Completes integration of Japanese wind instrument
Board of Directors and Executive Officers
factories into Toyooka plant
(As of June 25, 2018)
1959 Begins production of Celebrates 125th year in business
electronic organs (Electone™)
2014 Acquires U.S. musical instrument and audio
Board of Directors Executive Officers
1960 Establishes subsidiary in United States, Yamaha equipment manufacturer Line 6, Inc.(currently
International Corporation (currently Yamaha Yamaha Guitar Group, Inc.) Director Takuya Nakata President and Representative Executive Officer Takuya Nakata
Corporation of America) Acquires U.S. provider of wireless audio Director Satoshi Yamahata Managing Executive Officer Shinobu Kawase
solutions Revolabs, Inc.(currently Yamaha Unified Director Masahito Hosoi Managing Executive Officer Satoshi Yamahata
1962 Begins recreation business Communications, Inc.) Outside Director Shigeru Nosaka Executive Officer Shigeki Fujii
Outside Director Masatoshi Ito Executive Officer Akira Iizuka
1965 Begins production of wind 2018 Opens Yamaha Outside Director Junya Hakoda Executive Officer Seiichi Yamaguchi
instruments Corporate Museum Outside Director Yoshimi Nakajima Executive Officer Takashi Dairokuno
"Innovation Road" Outside Director Taku Fukui
Outside Director Yoshihiro Hidaka
14 15
Corporate Communications Division https://www.yamaha.com/en/ 2018/7 - CM175
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