Kirin sees Japan whisky 'renaissance' driving 50% export of premium brand
24/01/2024 23:33
By Rocky Swift and Mayu Sakoda
TOKYO, Jan 25 (Reuters) - A Japanese whisky
"renaissance" will help Kirin Holdings 2503.T more than double
exports of its premium brand by 2025, the company's master
blender said.
Japan had fewer than 10 distilleries for most of its whisky
history, which hit the century mark last year. But that number
shot past 100 in the past few years as new entrants sought to
take advantage of huge global demand and eye-watering prices.
"I really believe that we are in the midst of a Japanese
whisky renaissance," said Jota Tanaka, who leads Kirin's whisky
business. "There are some fantastic companies with great
ambition and technical skill being born."
For much of its history, Japanese whisky was seen as an
imitation of scotch and produced mostly for domestic
consumption. But from about 2008, bottles from Suntory Holdings
SUNTH.UL and the Nikka brand owned by Asahi Group Holdings
2502.T started to rack up international awards, sparking a
boom in global demand that drank dry the supply of aged stock.
Kirin's Fuji Gotemba Distillery, which sits at the foot of
Japan's sacred mountain, celebrated its 50th anniversary last
year, but Kirin remains a distant third in Japan's whisky market
behind Suntory and Asahi. All three are diversified into beer,
soft drinks, and food.
About 10% to 20% of Kirin's premium Fuji brand of whisky is
sold overseas now, though the company aims to raise the ratio to
half, Tanaka said. The overseas focus is partly driven by
necessity, given Japan's shrinking population and a decline in
alcohol consumption among younger people.
The Kirin brand is not as widely known in whisky circles,
even in its home market. But with just 4% of global whisky
supply deriving from Japan, Tanaka believes there is room to
grow without cutthroat competition.
"As long we can get customers to try a drink of our products
and say, 'Oh, Kirin makes some good stuff,' then growth will
come naturally," he said.
(Reporting by Rocky Swift; Editing by Stephen Coates)
((rocky.swift@thomsonreuters.com;))