Japan: Suntory set to revise prices for its products in October

Japanese drinks multinational Suntory is set to revise prices for its products in Japan as it grapples with rising costs, The Drinks Business reported on May 6.

Suntory Beverage & Food Limited has announced it will “implement price revisions” for products in Japan. The changes will impact shipments made on or after 1 October 2025.

In a statement announcing the price hikes, Suntory said it was facing increased costs in manufacturing, logistics and other operations as prices continue to rise in the Japanese economy.

The company said it could no longer absorb rising costs, resulting in price revisions.

The adjustments will impact products packaged in PET bottles, cans, and other containers. Specifically, prices for PET bottles will increase by 6% to 25%, while can prices will rise between 10% and 24%. However, Suntory did not detail which specific products would be impacted.

The statement asserted that the company “will remain committed to pursuing technological innovation and enhancing productivity, with the aim of continuing to enrich the lives of consumers by delivering safe, reliable, and high-quality products that offer new value”.

Japan’s economy is struggling due to the country’s increasing and ageing population, resulting in a shrinking workforce and increasing social care costs.

Added to that, US President Donald Trump’s 24% tariffs on Japanese goods being imported into the US has been a further blow to the economy.

Last month it was announced that the US state of California had overtaken Japan as the fourth largest economy in the world. New data showed California’s GDP behind the US at US$29.18 trillion, China at US$18.74 trillion and Germany at US$4.65 trillion in 2024. It also showed California was the fastest growing of the four, surpassing Japan, which was marked at $4.01 trillion.

Ongoing challenges in the Japanese market have continued to hit Suntory hard. The company announced last October that it would be increasing the price of its whiskies.

Suntory Holdings CEO Takeshi Niinami said in October 2024 that the company would have to “brush up so that local consumers think that our brands are more premium than before, so that we can ask for higher prices”.

Niinami said at the time that the company was planning to increase its whisky prices to keep up with a “higher tariff world”. This was prior to the now US President’s decision to impose punitive tariffs on the majority of international markets.