Suntory revenue rises to US$22.33B in 2025 as Beverage Growth Offsets Stagnant Alcohol Sales 

JAPAN – Japanese drinks group Suntory has reported a 0.4% increase in full-year revenue for 2025, reaching ¥3.43 trillion (US$22.33bn), supported by growth in its beverages and food division, the company’s largest business segment. 

According to the company, revenue from the beverages and food segment rose by 2% year on year, driven mainly by soft drinks. In contrast, Suntory’s alcohol business remained under pressure, recording a 0.4% decline to ¥1.38 trillion (US$8.98bn).  

The group had already reported a 2.4% sales decline in its alcohol arm during the first half of 2025. 

Suntory said alcohol performance was affected by a “challenging external environment” and slower demand in key international markets. The results were also impacted by the sale of Cognac brand Courvoisier to Campari Group in 2024. 

Nobuhiro Torii, president and CEO of Suntory Holdings, said: “In 2025, markets around the world experienced slowdowns, which resulted in a challenging business environment for many of our regions and businesses. Japan was no exception, with a historically weak yen and sharp price increases weighing on the market.” 

Operating income fell sharply by 42.9% to ¥103.1bn (US$671.3m), partly due to the Courvoisier divestment. Torii also attributed the decline to lower alcohol profits resulting from “sluggish” growth in Europe and the US, as well as “weaker” performance in the beverages and food business in Thailand and Vietnam. 

The company announced leadership changes as part of its long-term strategy. Newly appointed president Eiichiro Nishida will oversee the domestic alcohol business and support Suntory’s target of achieving ¥1 trillion (US$6.50B) in revenue by 2030.  

Torii also confirmed that a new leader will be appointed for the group’s ready-to-drink (RTD) business. 

Suntory noted that spirits sales, including liquor tax, declined in 2025, although no specific figures were disclosed. Its spirits subsidiary, Suntory Global Spirits, said performance was constrained by “a slowdown in consumption caused by economic uncertainty” in the US and Europe, alongside the Courvoisier sale.  

However, spirits growth was recorded in Japan, India, China and global travel retail. 

The group highlighted strong growth for Japanese gin Roku and RTD brands -196 and On The Rocks.  

Looking ahead, Suntory forecasts a 4.3% rise in group revenue to ¥3.58 trillion (US$23.29B) in 2026 and a 26.2% increase in operating income to ¥280bn, as it pursues its ambition to become the “world’s most admired premium spirits company (US$1.82B).” 

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