Suntory Beverage & Food "Announcement of price revisions to run from..."

研报英文原文证据摘录

Suntory Beverage & Food "Announcement of price revisions to run from..."

Global Research

19 June 2026ab

Suntory Beverage & Food Equities

JapanAnnouncement of price revisions to run from

November 2026 Food Products

12-month rating Neutral

12m price target ¥4,300Following on from Coca-Cola Bottlers Japan, price hikes announced

On 18 June (at 5pm), the company announced price revisions for some domestic

products to take effect from 1 November. The revisions cover 131 items, equating to Price (18 Jun 2026) ¥4,325

about half of sales. As with Coca-Cola Bottlers Japan, which has already announced RIC: 2587.T BBG: 2587 JP

price revisions taking effect from September, the affected categories exclude water and

Green DAKARA. Management plans to lift suggested retail prices by 5-12% for PET Trading data and key metrics

bottles and 9-19% for cans. The company has not disclosed the earnings impact, but we 52-wk range ¥5,245-4,156

estimate it at around ¥5-6bn annually, about half the ¥11bn impact from the October Market cap. ¥1,336b/US$8.32b

2025 price hikes that covered almost all products. The company’s plan does not factor in Shares o/s 309m (ORD)

a boost from these price revisions, and it also does not reflect additional cost related to Free float 40%

the Middle East situation. As we thought that the company would follow Coca-Cola Avg. daily volume ('000) 968

Bottlers Japan in raising prices, the announcement came as no surprise. Avg. daily value (m) ¥4,251.5

Common s/h equity (12/26E) ¥1362b

This initiative is unlikely to absorb the Middle East-related cost increases P/BV (12/26E) 1.0x

Two points concern us. First, these latest price hikes appear aimed at offsetting past cost Net debt to EBITDA (12/26E) NM

increases rather than addressing Middle East-related cost pressures.