Suntory Announces Significant Price Increases
In the midst of rapid inflation in Japan, Suntory announced massive price increases for many of its whisky products, according to a report by Japan Today.
Suntory said it will raise the prices on 19 of its Japanese whiskies, split among five sub-brands. None of the announced increases come in at less than 20 percent, and for some brands the price of a single bottle will more than double, per the report.
The company owns Japanese whisky brands such as Yamazaki, Hakushu, Hibiki, Toki and others, and also owns American-based whiskey brands Jim Beam and Maker’s Mark; the American brands apparently will not be affected by the increases.
Popularity of the company’s whiskies, both at home and abroad, was the reason behind the price increases, Suntory told Japan Today. Suntory also reported it is making upgrades to its Yamazaki and Hakushu distilleries to increase the amount of whisky they can produce and to enhance the quality of the products in an environmentally friendly way, the report says.
The highest increases involve Suntory’s Hibiki 30, Single Malt Yamazaki 25, and Single Malt Hakushu 25, all of which will see a price increase of 125%, while Yamazaki 12 and Hakushu 12 will jump in price by 50%. The following whiskies will see price increases ranging from 36% to 56%, per the report: Hibiki Japanese Harmony, Yamazaki Hakushu, Suntory World Whisky Ao and Chita.
The price increases are reportedly scheduled to take effect for bottles being shipped after April 1, 2024.