It means honour — mostly in the reputational, legal sense.

What a Japanese person actually thinks
Formal and institutional. Reads closer to 'good name' than to 'personal integrity' — a bit like tattooing REPUTATION in English.

Meaning

Literally: name + praise
Actually: Honour as public reputation and standing. It's the word in 名誉毀損 (defamation) and 名誉教授 (professor emeritus).

Scores

Naturalness●●●●●

Correct and common, in a formal register.

Coolness●●●●●

Fine characters. The bureaucratic and legal habitat is the problem.

Watch out

mediumThe most frequent everyday appearance of this word is in 名誉毀損 — defamation. Not damaging, but it colours the register.

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義 gi
righteousness; doing what is right

One of the seven bushidō virtues. Honour as *conduct* rather than as reputation — far closer to what most people mean.
誠 makoto
sincerity; integrity

Honour as being true to your word. Single character, historically loaded, much stronger.

On skin

名誉

Orientation: vertical

Mincho.