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☆ Global consumer confidence is weaker than it was in 2023, Suntory CEO says
▼ + stars: | 2024-01-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGlobal consumer confidence is weaker than it was in 2023, Suntory CEO saysTakeshi Niinami of Suntory Holdings says that's because of the "huge escalation" in the Middle East, among many other factors, and adds that he's "not optimistic."

Persons: Takeshi Niinami Organizations: Suntory, Suntory Holdings

"Given the fast-changing landscape, I believe those who move fast (with wage hikes) should become competitive." A demand made this year by Rengo, Japan's largest trade union confederation, for pay hikes of "around 5%" resulted in average wage hikes of 3.58% among major companies. Six out of 10 economists in a Reuters poll expect major firms' pay hikes in 2024 to exceed this year's. The key, however, would be whether wage hikes broaden to smaller firms and those in the regional areas. A report by the BOJ's regional branch managers in October warned wage hikes remained uneven among sectors with many firms undecided on next year's pay increments.

Persons: Kim Kyung, Takeshi Niinami, Fumio, Kazuo Ueda, Hisashi Yamada, Rengo, Atsushi Takeda, Kishida, Keita Kondo, Tetsushi Kajimoto, Kentaro Sugiyama, Sam Holmes, Leika Organizations: REUTERS, Rights, Suntory Holdings Ltd, Reuters, Meiji, Life Insurance, Suntory Holdings, Bank, Japan, Hosei University, OECD, UA Zensen, Itochu Economic Research Institute, Thomson Locations: Tokyo, Japan, Ukraine, Saitama

TOKYO (AP) — The Japanese boys-band production company at the center of an unfolding sexual abuse scandal, Johnny & Associates, chose three former judges Wednesday to head its effort to compensate hundreds of victims. “We recognize that the late Johnny Kitagawa carried out sexual assaults over a long period, and we apologize to the victims from the bottom of our hearts,” the company said. Among the latest was Kao Corp., a chemical and cosmetics company, which cited “considerations for people’s various feelings” on Tuesday. McDonald’s Japan has also said it will stop using Johnny’s stars in future deals, but past ads featuring them remained on its official site. Johnny’s stars are extremely popular, leading to sponsorship revenue and hit TV shows.

Persons: Johnny Kitagawa, Kitagawa, Julie Keiko Fujishima, Johnny's, Noriyuki Higashiyama, Johnny’s, “, ”, McDonald’s, ___ Yuri Kageyama Organizations: TOKYO, Johnny & Associates, Asahi Group Holdings, Suntory Holdings, Kao Corp, Public, NHK, Japan Federation of Bar, Business, Rights Locations: Tokyo, Japan, McDonald’s Japan

TOKYO (AP) — Several major Japanese companies have decided to stop using stars who are represented by Johnny & Associates, an entertainment company at the center of a sexual assault scandal. Victims have come forward, demanding an apology and financial compensation from Johnny & Associates, which remains one of this nation’s most powerful entertainment companies. Critics say the mainstream news media kept silent because it didn’t want to lose access to Johnny’s stars for their programming. But public opinion has shifted dramatically in recent months, with the wave of companies dropping Johnny's expected to grow. Suntory Holdings said it will stop using Johnny’s personnel in its ads and has formally demanded improved corporate governance.

Persons: Johnny &, Junichi Okada, Toma Ikuta, Sho Sakurai, Johnny, Julie Keiko Fujishima, Johnny Kitagawa, Fujishima, Kitagawa, Hibiki, Hokuto, Atsushi Katsuki, Johnny's, ”, ___ Yuri Kageyama Organizations: TOKYO, Johnny, Johnny & Associates, Beverage, Asahi Group Holdings, Johnny’s, Japan Airlines, Nippon Life Insurance, Suntory Holdings, Asahi, Twitter Locations: Tokyo, SixTONES

☆ Analysis-China's economic gloom hangs over Japan's long-awaited recovery
▼ + stars: | 2023-09-06 | by ( Tetsushi Kajimoto | Leika Kihara | ) www.reuters.com time to read: +5 min

TOKYO (Reuters) - Policymakers in Tokyo believe China’s deepening economic woes could hit Japan’s fragile recovery, especially if Beijing fails to shore up demand with meaningful stimulus, potentially delaying an exit from ultra-loose monetary policy. China is Japan’s largest trading partner, accounting for 20% of its exports, having replaced the United States in 2020. “Exports to China had already been weak and headwinds to inbound tourism are clearly bad for Japan’s economy,” said Toru Suehiro, chief economist at Daiwa Securities. Firms also promised wage hikes unseen in three decades this year, heightening the case for a retreat from decades of ultra-loose monetary policy. The darkening outlook for Japan’s recovery may push back the timing of a BOJ policy shift.

Persons: Marko Djurica, Kazuo Ueda’s, ”, Hiroyuki Ogawa, Ogawa, Takeshi Niinami, Toru Suehiro, Ueda, Toyoaki Nakamura, “, Seisaku Kameda Organizations: REUTERS, Bank of Japan’s, Reuters, Japan, Komatsu Ltd, Komatsu, Suntory Holdings, Daiwa Securities, Japan’s Sompo Holdings Locations: TOKYO, Tokyo, Beijing, Japan, United States, China

In a sign of growing pessimism over China, the government also said its monthly economic report for August that "concern over China's outlook" was among risks to Japan's recovery. "Exports to China had already been weak and headwinds to inbound tourism are clearly bad for Japan's economy," said Toru Suehiro, chief economist at Daiwa Securities. "All in all, it's hard to justify tightening monetary policy any time soon." Firms also promised wage hikes unseen in three decades this year, heightening the case for a retreat from decades of ultra-loose monetary policy. The darkening outlook for Japan's recovery may push back the timing of a BOJ policy shift.

Persons: Marko Djurica, Kazuo Ueda's, Hiroyuki Ogawa, Ogawa, Takeshi Niinami, Toru Suehiro, Ueda, Toyoaki Nakamura, Seisaku Kameda, Tetsushi Kajimoto, Sam Holmes Organizations: REUTERS, Bank of Japan's, Reuters, Japan, Komatsu Ltd, Komatsu, Suntory Holdings, Daiwa Securities, Japan's Sompo Holdings, Thomson Locations: Tokyo, Japan, China, TOKYO, Beijing, United States

☆ We are offering more less-alcohol and non-alcohol drinks given consumer trends: Suntory CEO
▼ + stars: | 2023-08-14 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe are offering more less-alcohol and non-alcohol drinks given consumer trends: Suntory CEOTakeshi Niinami, President and CEO of Suntory Holdings, discusses the company’s product strategies amid persistent inflationary pressure and changing consumer trends.

Persons: Takeshi Niinami Organizations: Suntory, Suntory Holdings

☆ Suntory CEO on Japan's economy: We are now facing a tipping point from deflation to inflation
▼ + stars: | 2023-07-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSuntory CEO on Japan's economy: We are now facing a tipping point from deflation to inflationSuntory Holdings CEO Takeshi Niinami joins 'Squawk on the Street' to discuss how global investors have 'discovered' Japan, whether the central bank of Japan will continue raising rates, and more.

Persons: Takeshi Niinami Organizations: Suntory Locations: Japan

☆ Suntory CEO expects next BOJ governor to show clear policy roadmap
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +2 min

The BOJ stuck to its ultra-easy policy at a two-day policy meeting that ended on Jan. 16, defying investors who had bet on it ceasing to defend a cap on the 10-year government bond yield. The cap is part of a policy called yield curve control (YCC). But Niinami said expectations were growing that the BOJ would sooner or later end its expansionist experiment. "The ultra-easy policy can't be kept forever, given current (economic) conditions. Niinami also said economic growth led by the private sector would be needed to help prevent Japan's financial health worsening further.

☆ Davos fireside chat with the Suntory CEO
▼ + stars: | 2023-01-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDavos fireside chat with the Suntory CEOFor Suntory Holdings, one of the world’s leading producers of whisky and other beverages, the supply of water is vital to business. Takeshi Niinami, the company’s CEO, joins CNBC to talk about protecting the world’s water resources and setting ambitious goals to reduce carbon emissions.

☆ Kirin seeks more North American craft beer factories after strong growth
▼ + stars: | 2022-12-21 | by ( Miho Uranaka | ) www.reuters.com time to read: +3 min

REUTERS/Issei KatoTOKYO, Dec 21 (Reuters) - Kirin Holdings (2503.T), Japan's second-largest brewer, is looking to buy factory facilities in North America to maintain strong growth in the region's craft beer market, its chief executive said. Kirin has seen sales volumes in the North American craft beer market climb by double-digit percentage figures since acquiring Colorado-based New Belgium Brewing in 2019 and Bell's Brewery in Michigan in 2021. "Our craft beer business in North America is on a roll," CEO Yoshinori Isozaki said in an interview with Reuters on Tuesday. North American craft beer is also now the company's most profitable segment among global businesses that span everything from whisky to probiotic health drinks, he added, without disclosing profit margins. Kirin had craft beer sales of about 60 billion yen ($454 million) in the year ended in March, accounting for 3% of global sales.

☆ Jim Beam is plotting a $400 million expansion to ramp up bourbon production
▼ + stars: | 2022-09-14 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

Jim Beam plans to ramp up bourbon production at its largest Kentucky distillery to meet growing global demand in a more than $400 million expansion to be powered by renewable energy. The project will increase capacity by 50% at the Beam plant in Boston, Kentucky, while reducing greenhouse gas emissions by the same percentage, Beam Suntory said Wednesday. Beam also is “fully leveraging” its capacity at its distillery in Clermont, Kentucky, where it produces Jim Beam, Basil Hayden, Knob Creek and Legent brands. Beam Suntory, a subsidiary of Suntory Holdings Limited of Japan, isn’t the first maker of bourbon to go green. Kentucky is home to 95% of the world’s bourbon production, the association said.

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