Yokohama Rubber believes that considering the sustainability of society and companies in decision making and execution is important in order to achieve the Corporate Philosophy of “To enrich people’s lives and contribute to their greater happiness and well-being by devoting our wholehearted energies and advanced technology to the creation of beneficial products.” In addition, Yokohama Rubber makes various efforts based on appropriate corporate governance when addressing the core issues of human rights, labor practices, the environment, fair business practices, consumer issues, and community participation and community development.
Along with this policy, the actions that should be taken by employees are stipulated in the Yokohama Rubber Group Action Guidelines.
Yokohama Rubber Group Action Guidelines
We shall conduct corporate activities with a high degree of transparency and practice proper disclosure of information.
Basic stance of the Yokohama Rubber Group
- We shall conduct corporate activities with a high degree of transparency, in keeping with our Corporate Philosophy.。
- We shall make effective use of our corporate assets and heighten our corporate value.
- We shall make systemic arrangements for ever-vigilant monitoring of risks surrounding the Yokohama Rubber Group, deal promptly with such risks, and constantly review these arrangements.
- We shall establish standards for business processing and see that they are rigorously applied for correct performance of such processing.
- We shall practice timely and appropriate disclosure of information on our business results , financial position, and business activities to our stakeholders, and engage in open and fair communication with them.
Putting our basic stance into practice – our action
- We shall treasure the tangible and intangible assets of the Yokohama Rubber Group, including our reputation and brand, and strive to heighten our corporate value.
- We shall exclude any and all ties with anti-social forces.
- We shall be on guard against risks in our midst that could lead to disasters, scandals, and accidents, and deal promptly and appropriately with any related occurrences.
- We shall obtain personal information on our customers, third parties, our employees, and other persons as well as confidential information on our customers and third parties, only by legitimate methods. In addition, we shall strictly manage any such information, utilize it only within proper scope, and carefully protect it.
- We shall properly manage exports in accordance with the laws and regulations in the host countries and regions.
- We realize that the pool of information acquired through our work includes some important undisclosed information otherwise known internally or only within the other organization. We shall properly manage all such information. We shall not engage in any buying or selling of stock etc. using such inside information.
Message from a manager
With the aim of having our management continue to maintain unshakeable credibility , Yokohama Rubber Group is making every effort to fortify and improve the support system needed to establish corporate governance that can realize management with transparency and fairness under our Corporate Philosophy.
In FY2017, we proceeded with the preparations – in terms of information collection, decision-making, etc. – needed to realize a further strengthening of our business foundations, and it was decided that, starting from March 2018, the number of Directors would be reduced, while at the same time adding one additional Outside Director. In addition, we strengthened the diversity of the board of Directors by appointing a female Outside Audit & Supervisory Board Member and appointing one Corporate Officer each from the U.S.A. and India. The current management structure of Yokohama Rubber consists of 6 Internal Directors including the Chairman and President with representation rights, and 4 Outside Directors, for a total of 10 Directors, as well as 15 Corporate Officers, along with 2 Audit & Supervisory Board Members and 3 Outside Audit & Supervisory Board Members.
Recognizing the need to clarify the managerial responsibilities of Directors, Yokohama Rubber has set the term for Directors at one year, and has adopted a system whereby, for Directors other than Outside Directors, compensation is linked to corporate performance. In addition, starting from 2018, we have adopted a new compensation system with restrictions on share transfer, so that Directors share the benefits and risks of fluctuations in the share price with ordinary shareholders, and have an increased incentive to contribute towards the enhancement of corporate value.
We aim to improve the transparency and fairness of management by enhancing initiatives aimed at strengthening the corporate governance structure going forward.
Shigeo Komatsu, Head of Corporate Administration Division