May 17, 2022
(press release)
–
Suntory Beverage & Food Limited (the “Company”) will implement price revisions for certain products in Japan, effective as of shipments on and after Saturday, October 1, 2022. 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. 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.
Despite these efforts, the increasing raw material due to impacted by global supply-demand tightness and rapid depreciation of Japanese yen, incremental costs associated with the acceleration of sustainability initiatives (e.g. the shift to recycled PET bottles) and their significant cost impact have reached a point where absorption of these costs solely through individual company efforts is extremely difficult. In addition, the environment surrounding the Company remains uncertain. The Company is therefore left with no choice but to revise the recommended retail prices of certain products.
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