Deals
Jim Beam Owner Suntory Postpones $36 Billion Revenue Target
- Company to reach 4 trillion yen sales by 2022 or 2023: Niinami
- Beam integration, soft-drinks business to drive sales growth
Takeshi Niinami
Photographer: Shiho Fukada/BloombergThis article is for subscribers only.
Suntory Holdings Ltd., the liquor giant that is facing a slowdown in the Japanese market, stepped back from its goal of almost doubling annual revenue by 2020.
The company will reach the sales target of 4 trillion yen ($36 billion) -- made in 2014 after it agreed to acquire Beam Inc. -- at least two years later, Chief Executive Officer Takeshi Niinami said in an interview. Suntory, the owner of Orangina soft drinks and Jim Beam bourbon, said it set the sales goal as a way of measuring its performance as a global company.