When Shinjiro Torii founded the Yamazaki Distillery in 1923, few would have been able to forecast the enormous force his company, Suntory Whisky, would go on to become a century later.
Over the past decade in particular, Japanese whisky has evolved from a curiosity known only to connoisseurs into a powerhouse beloved in every corner of the whisky world. As chief blender for Suntory Whisky, Shinji Fukuyo has spearheaded this modern surge, and enjoys a unique position as the House of Suntory celebrates its 100-year anniversary.
“Witnessing the global impact of Suntory whiskies brings me great personal fulfilment and fuels my passion for creating beloved whiskies for everyone to enjoy,” Fukuyo says. Over the 100 years the company has been producing whisky, he is only the fifth person to hold the title of chief blender. He was named to the position in 2009 after an extensive history working for the company at the Yamazaki Distillery, Japan’s first whisky distillery.
Suntory has been hosting a year of celebrations in honour of its centennial, the highlight of which has been the release of a suite of Centennial Limited Edition whiskies. The lineup includes Yamazaki 18-year-old Mizunara (US$1,500), Hakushu 18-year-old Peated Malt (US$1,200), and a centennial bottling of Hibiki 21-year-old (US$5,000). Each of the three was blended by Fukuyo to showcase a unique flavor profile and characteristic that stands apart from its typical bottlings. The Yamazaki and Hakushu whiskies were released this May, while the Hibiki debuted in a separate release last month.

House of Suntory
Another component of this year’s ongoing Suntory centennial fete was the Sofia Coppola directed Suntory Time tribute film, as well as the Roman Coppola directed docuseries, The Nature and Spirit of Japan, both of which starred Keanu Reeves. Elsewhere around Japan, other prominent businesses have been getting in on the fun as well. For instance, a 30-minute drive from the Yamazaki Distillery, Hotel the Mitsui Kyoto’s signature restaurant Toki—which happens to share the name of a Suntory Whisky product—has unveiled an elaborate Hibiki whisky pairing dinner, while its Garden Bar has offered an exclusive menu of Hibiki cocktails.
Fukuyo spoke with Penta about the century-long legacy of the House of Suntory, as well as the creation of this year’s honorary Centennial Limited Edition whisky releases.
Penta: What does this special occasion signify for you?
Shinji Fukuyo: Shinjiro Torii’s legacy began with a dream to create an original whisky that would suit the delicate palate of the Japanese consumers that is blessed with the riches of Japanese nature and craftsmanship. As chief blender, I am dedicated to upholding Suntory’s rich legacy and traditions, while expressing our craftsmanship through the whiskies that my team and I create.
As Japanese whisky has soared in popularity over the past decade, what are the qualities that define Suntory’s whiskies and have helped make them so special for drinkers around the world?
We use high-quality natural water, which has been nurtured over many years, to produce a delicate spirit. The natural environment and climate of where our distilleries sit in Japan also influences our whiskies. Our climate highlights the dynamic changes of the four seasons, including humid, hot summers and dry, cold winters to give our whisky a deep sense of maturity.
The quality of whisky is showcased in the flavor and aroma that is developed over time by producing a rich distillate from good raw materials and placing it in high-quality casks. Also, to bring out the harmony of flavor and aroma, we carefully proceed and blend various types of whiskies in a skillful balance, which I believe embodies the delicate Japanese craftsmanship.
What was your approach with this year’s limited-edition whiskies?
The existing Yamazaki 18-year is a product that combines American oak, Spanish oak, Mizunara oak, and smoky Yamazaki malt to express complexity while highlighting the character of Spanish oak. On the other hand, the limited-edition Yamazaki 18-year-old Mizunara uses only malt whiskies aged in Mizunara barrels for a minimum of 18 years and features cinnamon and nutmeg aromas, with undertones of Japanese incense, sandalwood, and dry coconut emphasized in the finish, with subtle spices.
For Hakushu, both our existing Hakushu 18-year-old and the limited Hakushu 18-year-old Peated Malt are blended with various whiskies aged in Hakushu, including American and Spanish oak, heavy peated and non-peated, for a smoky yet fruity and sweet finish. The limited edition is balanced with several peated Hakushu malt whiskies aged in American oak for over 18 years to produce a fresh and crisp smoky taste.

House of Suntory
Looking ahead to the next few decades, how do you envision Suntory continuing to evolve? How about Japanese whisky as a category on the whole?
For these 100 years, we have been striving to create a culture where Japanese consumers can enjoy whisky. These are values we still prioritize today, as our team is constantly in the pursuit of enhancing our quality and craftsmanship. As we look to the future, we have seen a growing global interest in Japanese products and believe that there are further opportunities to spread the excellence of Suntory Whisky throughout the world.
This interview has been edited for length and clarity.
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Apple’s growth engine is showing signs of slowing, as rising costs, weaker services growth and AI competition challenge its profitability. With John Ternus taking the helm, the pressure is on to reignite innovation and sustain investor confidence.
The Apple growth and profit machine is wavering, and the boost from price increases might not be enough to keep it going at historic rates. That dials up the pressure on Apple’s new chief executive, John Ternus.
The company saved the bad news for its earnings call, an hour after it posted its results for the September quarter, projecting that for the current quarter its high-margin services business will continue to slow and that its widely watched gross profit margin will continue to fall.
Apple AAPL -1.83%decrease; down pointing triangle shares had been flat in post-close trading but declined as much as 4% after the company made the projections, which fell short of Wall Street estimates.
The impact of high memory costs are weighing even more heavily on the company, Ternus and Apple Chief Financial Officer Kevan Parekh said on the company’s earnings call. Apple has stockpiled cheaper components purchased earlier, but those inventories are dwindling.
When Ternus took over as Apple’s third chief executive of the past 29 years on Sept. 1, he inherited sky-high expectations. The men he followed were among the most successful company leaders in American business history. Steve Jobs revolutionized consumer devices multiple times. Tim Cook expanded Jobs’s creation to spectacular heights.
The expectations are reflected in Apple’s huge valuation. Oppenheimer analyst Martin Yang noted that Apple stock trades at 36 times next year’s expected earnings, a premium to the overall market, even though its earnings are only expected to grow 1%, which is slower than its tech peers.
“We see insufficient upside to justify the premium,” Yang wrote in an investor note, adding that Apple needs to boost iPhone sales growth and turn around its slowing services business to make him more bullish.
Investors have bid up Apple shares because it has been a port in the AI storm—a reliable and capital-efficient business that stands apart from rivals which are spending hundreds of billions of dollars racing to the AI frontier.
While others invest in data centers, Apple has been pouring its own cash into buybacks and dividends. But that safety may be challenged if Ternus can’t speed up Apple’s innovation engine.
Apple’s lagging performance in AI was evident when its new “Siri AI” chatbot arrived this past quarter. Its long-maligned assistant was already stale the day it arrived, surpassed by agents such as Instinct and Muse that can complete multistep tasks for consumers, while Siri still sets kitchen timers.
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The new iPhone Duo appears to be a bright spot. Consumers are scooping up the $1,999 foldable smartphone despite mixed reviews—so many that Apple can’t keep up with demand. Shipping dates jumped out to January soon after the device went on sale, a disappointment for the normally reliable Apple supply chain.
Apple said its revenue grew 12% in the September quarter, slightly ahead of Wall Street’s expectations. Its widely tracked gross profit margin, at 47.9%, also came in just ahead of analyst estimates.
Apple will need to find new growth avenues because a reliable engine during the Cook era—the services business—is slowing. Courts and regulators worldwide have limited Apple’s ability to charge developers big fees to distribute apps through its App Store, the biggest component of the company’s services segment.
One of its most lucrative App Store fee generators has been the ChatGPT app from OpenAI. Around the time Apple accused OpenAI of trade-secret theft this past summer, OpenAI began redirecting potential subscribers to pay via its website instead of the App Store, skirting Apple’s tollbooth.
Apple’s valuation has bumped up against a ceiling in recent weeks. Six times it traded above a $5 trillion market capitalization intraday before finally closing above the threshold, which it has already fallen back below.
News Corp, owner of The Wall Street Journal, has a commercial agreement to supply news through Apple services.

