Suntory Spirits said Tuesday that it will raise the prices of 117 alcoholic beverages by up to more than two times, starting with shipments on April 1 next year.
The suggested retail prices of the Yamazaki 25 Years Old, Hakushu 25 Years Old and Hibiki 30 Years Old whiskies will jump to ¥360,000 per 700-milliliter bottle from ¥160,000, the Japanese beverage maker said.
Such high-grade Japanese whiskies are becoming increasingly popular worldwide and are sometimes sold for 10 times the manufacturers' suggested retail prices due to stock shortages.
Suntory said that the price increases are designed to help improve the quality of its products and enhance production facilities.
For imported whiskies, the price of the Macallan 30 Years Old will climb to ¥550,000 per 700-milliliter bottle from ¥351,360. Suntory will also raise prices for some Japanese wine. The increases reflect soaring ingredient and transportation costs, the company said.