Suntory Beverage & Food Limited (the “Company”) will implement price revisions for certain products in Japan, effective as of shipments made on and after Monday, May 1, 2023.
In order for the Company to stably provide safe, secure and high-quality products, various approaches have been taken across the board to improve productivity, thoroughly reduce costs, and so forth, while also implementing rationalization at an executive management level, but due to a significant deterioration in manufacturing costs the Company implemented price revisions for some products in Japan on October 1, 2022.
However, as well as ongoing increases in the costs of the raw ingredients that were previously affected, there have been further rises in associated expenses, such that the impact on manufacturing cost has reached a point where their absorption solely through individual company efforts is extremely difficult. In addition, the environment in which the Company operates is expected to remain uncertain, and the Company is therefore left with no choice but to again revise the recommended retail prices of certain products in Japan, as set out below.
Going forward, the Company will continue to put every effort into rationalization in order to achieve further cost reduction while striving to provide our consumers with ever more natural, healthy, convenient and fulfilling drinking experiences through our high-quality products.
▼Effective Date Shipments on and after Monday, May 1, 2023
▼Applicable Products Canned and bottled products *excluding some products
▼Price Revision Rate Recommended retail price +19-22%