Japan: Suntory aims to double overseas sales by 2010
Suntory Ltd. seeks to expand foreign sales by 120 percent to 400 billion yen (US$3.3 billion) by 2010 by acquiring local firms and applying other strategies, The Associated Press reported May 28.
"We'll prioritize investments in China and Southeast Asia," said President Nobutada Saji, according to the Saturday report in The Nikkei.
Suntory, a leading maker of alcoholic beverages and soft drinks, rang up sales of 178.6 billion yen (US$1.48 billion) in the year through December.
Under its latest business plan, the company aims to roughly double overseas sales of soft drinks from 125.6 billion yen (US$1.03 billion) to 250 billion yen (US$2.05 billion) by 2010, and nearly triple those of alcoholic beverages from 53 billion yen (US$435 million) to 150 billion yen (US$1.23 billion) by the same date.
As for beer sales, Suntory intends to concentrate on the Chinese market in the near term, the report said. The company boasts a 60 percent share of Shanghai's beer market, as well as a roughly 15-30 percent penetration in adjacent areas.
The company also aims to strengthen its soft drink operations in Southeast Asia and sell canned coffee in Singapore and Malaysia during the summer.
Armed with a 200 billion yen war chest, Suntory is also setting its sights on making acquisitions in the region, the report said. It is looking to take a stake in a local Thai firm this year to start producing and marketing tea beverages there, it said.
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