Suntory postpones ambitious US$36b sales goal
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Tokyo
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 four trillion yen (S$48.3 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.
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