Suntory Holdings alcohol sales flat in H1 as Japan offsets overseas weakness

Suntory Holdings posted a marginal increase in sales from its combined alcohol businesses – which include Suntory Global Spirits – during the first half of 2026.

The privately owned Japanese company said today (7 August) that revenue from its ‘Alcoholic Beverages’ division rose by 0.2% year-on-year to JPY653.6bn (US$4.4bn) in the six months to 30 June. In 2025, full-year sales fell to JPY1,040.8bn (US$6.8bn).

The Hibiki and Toki brand owner pointed to continued strength in its domestic business, with growth across beer, RTDs, whisky, wine and non-alcoholic beer in Japan. Japanese whisky brands Kakubin and Torys both increased sales volumes during the period, while the -196 RTD brand recorded 10% volume growth. The Suntory Draft Beer and Kin-Mugi brands also posted higher volumes, alongside growth for the Sankaboshizai Mutenka no Oishii Wine range and the All-Free non-alcoholic beer brand.

Outside Japan, the ‘Americas’ region remained under pressure as softer consumer demand and inventory optimisation by distributors in the US continued to weigh on sales. Despite the challenging environment, Suntory said key bourbon brands Jim Beam and Maker’s Mark “continued to build momentum” through marketing campaigns, sports partnerships and “consumer experiences”.

Performance in the group’s ‘Asia Pacific’ region exceeded the previous year, driven by “strong” growth of IMFL brand Oaksmith in India, and the global travel retail (GTR) channel. 

Growth was “mainly led” by Suntory Holdings’s Japanese-whisky portfolio, including Hibiki, Yamazaki and Toki, alongside Oaksmith whisky. The -196 RTD mark also delivered YOY volume growth, “driven by continued geographic expansion and proactive marketing activities that expanded customer touchpoints”.

Suntory left its full-year guidance unchanged. The group continues to forecast revenue of JPY3.58trn, up 4.3% year on year.