Business Results Highlights (IFRS)

February 14, 2025

Revenue

  • Revenue (including liquor tax)
  • Revenue (excluding liquor tax)

Operating Income

  • Operating income
  • Adjusted Operating income

Profit attributable to owners of the parent

  • Profit attributable to owners of the parent

Annual key financial data

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Annual key financial data
(Billion Yen) 2020/12 2021/12 2022/12 2023/12 2024/12 2025/12
(forecast)
Revenue (including liquor tax) 2,367.6 2,559.2 2,970.1 3,285.1 3,417.9 3,560.0
Revenue (excluding liquor tax) 2,108.3 2,285.7 2,658.8 2,952.1 3,079.7 3,210.0
Operating income 217.0 247.5 276.5 317.2 328.9 310.0
Profit attributable to owners of the parent 100.4 114.0 136.2 172.7 176.2 135.0

Adjusted Operating income *1

 218.0 251.9 270.6 316.9 317.2 320.0

Operating income ratio to revenue (%)*2

 10.3 11.0 10.2 10.7 10.3 10.0
Total equity 1,814.3 2,147.4 2,622.8 3,058.3 3,568.0
Total assets 4,521.3 4,934.0 5,480.4 6,042.8 6,331.5

EBITDA *3

 343.9 375.7 406.2 458.3 466.5
*1 Adjusted operating income was calculated as operating income excluding non-recurring items.
*2 Operating income ratio to sales = Adjusted Operating income/Revenue (excluding liquor tax)
*3 EBITDA = Operating income + Depreciation and amortization - other income + other costs

Half year key financial data

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Half year key financial data
(Billion Yen) 2020/6 2021/6 2022/6 2023/6 2024/6
Revenue (including liquor tax) 1,105.3 1,192.0 1,373.0 1,547.0 1,649.2
Revenue (excluding liquor tax) 984.6 1,069.2 1,230.2 1,390.9 1,488.3
Operating income 94.6 126.1 150.6 167.7 186.7
Profit attributable to owners of the parent 45.2 52.7 74.0 86.0 92.7

Adjusted Operating income *1

 95.6 127.4 136.2 163.8 165.7

Sales by Business segment

Sales by Business segment
*Beverage and Food:Non-alcoholic beverages, health drinks, processed food, other products Alcoholic Beverage:Spirits, beer, wine and other alcoholic beverages Others:Health food, ice cream, restaurants, flowers, Operations in China an other operations
  • Beverage and Food
  • Alcoholic Beverage
  • Others

Sales by Area

  • Japan
  • Americas
  • Europe
  • Asia and Oceania

Financial Highlights (IFRS)

February 14, 2025

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  • Net debt(Adjusted for Hybrid bonds and subordinated loans)
  • EBITDA
  • D/EBITDA ratio
Financial Highlights
DE Ratio

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Financial Highlights
(Billion Yen) 2020/12 2021/12 2022/12 2023/12 2024/12
Bonds and Borrowings 1,442.0 1,381.0 1,349.7 1,347.8 1,075.6
Net valuation gain (loss) arising from derivative transactions (±) 14.4 -12.4 -29.7 -34.9 0
Bonds and Borrowings (adjusted) 1,456.4 1,368.6 1,320.0 1,312.9 1,075.6
Cash and cash equivalents － 338.3 297.7 301.9 318.6 254.8
Net Debt 1,118.1 1,070.9 1,018.1 994.3 820.9
Lease liabilities ＋ 104.2 125.1 118.7 119.9 131.1

Equity credit for Hybrid bonds and subordinated loans*1

 － 199.0 199.0 199.0 199.0 170.0
Net Debt
(Adjusted for Hybrid bonds and subordinated loans)		 ① 1,023.3 997.0 937.8 915.2 781.9
Total equity 1,814.3 2,147.4 2,622.8 3,058.3 3,568.0
Total equity
(Adjusted for Hybrid bonds and subordinated loans)		 ② 2,013.3 2,346.4 2,821.8 3,257.3 3,738.0
EBITDA ③ 343.9 375.7 406.2 458.3 466.5
D/E Ratio
(Adjusted for Hybrid bonds and subordinated loans)		 ①÷② 0.51 0.42 0.33 0.28 0.21
D/EBITDA Ratio
(Adjusted for Hybrid bonds and subordinated loan) 		①÷③ 3.0 2.7 2.3 2.0 1.7
*1 Equity credit for subordinated loans and bonds

Subordinated loans and bondsFebruary 14, 2025

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Subordinated loans and bonds
Date of issue Name of Subordinated loans and bonds Currency

Amount
(Billion of Yen)

Outstanding Balance
(Billion of Yen)

Equity Credit
(%)

Equity credit for subordinated loans and bonds
(Billion of Yen)

 Maturity Date Reference
July 31, 2020 Subordinated loan JPY 96.0 96.0 50% 48.0

July 31, 2080
(After July 31, 2025 Early redeemable on every payment date)

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December 28, 2021 Subordinated loan JPY 60.0 60.0 50% 30.0

December 29, 2081
(After December 28, 2026 Early redeemable on every payment date)

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December 28, 2021 The 3rd Series of Unsecured Subordinated Bonds JPY 42.0 42.0 50% 21.0

December 26, 2081
(After December 28, 2026 Early redeemable on every payment date)

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March 22, 2023 The 4th Series of Unsecured Subordinated Bonds JPY 19.6 19.6 50% 9.8

March 22, 2083
(After March 22, 2028 Early redeemable on every payment date)

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April 24, 2023 Subordinated loan JPY 52.4 52.4 50% 26.2

April 26, 2083
(After April 24, 2028 Early redeemable on every payment date)

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August 13, 2024 Subordinated loan JPY 70.0 70.0 50% 35.0

August 14, 2084
(After August 13, 2029 Early redeemable on every payment date)

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Total
(Billion of Yen)

 340.0 - 170.0

Summary of Consolidated Financial Results

FY2024

FY2023

FY2022

FY2021

FY2020

FY2019

FY2018

FY2017

FY2016

FY2015

FY2014

FY2013

FY2012

FY2011

FY2010

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Financial Statement

FY2023

  • Financial Statements for the Year Ended December 31, 2023

    P71

    4,995KB

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FY2022

  • Financial Statements for the Year Ended December 31, 2022

    P74

    592KB

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FY2021

  • Financial Statements for the Year Ended December 31, 2021

    P70

    5,120KB

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FY2020

  • Financial Statements for the Year Ended December 31, 2020

    P63

    3,365KB

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FY2019

  • Financial Statements for the Year Ended December 31, 2019

    P64

    2,038KB

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FY2018

  • Financial Statements for the Year Ended December 31, 2018

    P61

    1,127KB

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FY2017

  • Financial Statements for the Year Ended December 31, 2017

    P69

    1,498KB

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FY2016

  • Financial Statements for the Year Ended December 31, 2016

    P48

    3,292KB

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FY2015

  • Financial Statements for the Year Ended December 31, 2015

    P50

    4,932KB

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FY2014

  • Financial Statements for the Year Ended December 31, 2014

    P47

    383KB

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FY2013

  • Financial Statements for the Year Ended December 31, 2013

    P43

    6,801KB

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FY2012

  • Financial Statements for the Year Ended December 31, 2012

    P42

    3,959KB

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FY2011

  • Financial Statements for the Year Ended December 31, 2011

    P46

    4,181KB

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FY2010

  • Financial Statements for the Year Ended December 31, 2010

    P42

    3,916KB

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FY2009

  • Financial Statements for the Year Ended December 31, 2009

    P28

    4,527KB

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FY2008

  • Financial Statements for the Year Ended December 31, 2008

    P29

    255KB

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Corporate Bonds and Ratings

BondsOctober 17, 2024

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Bonds
Date of issue Name of Bond Currency

Amount
(Millions in local currency)

Outstanding Balance
(Millions in local currency)

 Maturity Date
June 2, 2016 Suntory Holdings Limited 6th Publicly-offered Corporate Bonds JPY 20,000 20,000 June 2, 2026
December 28, 2021 Suntory Holdings Limited
The 3rd Series of Unsecured Interest Deferrable and Early Redeemable Subordinated Bonds		 JPY 42,000 42,000 December 26, 2081
June 8, 2022 Suntory Holdings Limited 8th
Publicly-offered Corporate Bonds		 JPY 20,000 20,000 June 6, 2025
June 8, 2022 Suntory Holdings Limited 9th
Publicly-offered Corporate Bonds		 JPY 43,000 43,000 June 8, 2027
June 8, 2022 Suntory Holdings Limited 10th
Publicly-offered Corporate Bonds		 JPY 22,000 22,000 June 8, 2032
March 22, 2023 Suntory Holdings Limited
The 4th Series of Unsecured Interest Deferrable and Early Redeemable Subordinated Bonds		 JPY 19,600 19,600 March 22, 2083
May 25, 2023 Suntory Holdings Limited 11th
Publicly-offered Corporate Bonds		 JPY 15,000 15,000 May 25, 2028
May 25, 2023 Suntory Holdings Limited 12th
Publicly-offered Corporate Bonds		 JPY 35,000 35,000 May 25, 2033
November 24, 2023 Suntory Holdings Limited 13th
Publicly-offered Corporate Bonds
（Green Bonds）		 JPY 20,000 20,000 November 24, 2028
June 11, 2024 Suntory Holdings Limited
Unsecured US$ Denominated Senior Notes Due 2029		 USD 500 500 June 11, 2029
June 30, 1998-
- January 12, 2006		 Suntory Global Spirits Inc.
US$ Denominated Publicly-offered Corporate Bonds		 USD 500 346 July 15, 2028-
January 15, 2036
* Please refer to the link “Suntory Group's Sustainability > Green Bonds” for further information about Green Bonds.

Long-termAugust 13, 2024

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Long-term
Rating Agency Long-Term Senior Debt Rating (Issuer Rating)
Japan Credit Rating Agency, Ltd. (JCR) AA
Moody’s Baa1
Standard & Poor’s BBB+

Short-term

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Short-term
Rating Agency CP Rating
Japan Credit Rating Agency, Ltd. (JCR) J-1+