Beverage maker Suntory Holdings Ltd will seek to boost annual sales in China to 100 billion yen from the current 30 billion yen by stepping up marketing of vintage wines, health foods and other high-quality products for wealthy Chinese.
President Nobutada Saji said: ‘‘Products, even if priced somewhat high, sell well in China as a considerable number of people earn more than 100 million yen in annual income there.”
‘‘Wines and whiskies have good chances” in China, Saji said. ‘‘We may well bring water and health foods from Japan.’‘
While Suntory has no plan to take over other businesses at present, Chinese companies may become attractive merger and acquisition targets after they have achieved growth, Saji said.
In Japan, Suntory will seek to raise its share of the market for beer and beer-like beverages to 20% from the current 13% by promoting so-called third-category beer, he said.
Saji denied Suntory intends to go public for now. But ‘‘we will consider it if we need to raise capital,” he added.