Rocky Swift and Ritsuko Shimzu

TOKYO (Reuters), – Suntory Holdings, the Japanese beverage company, stated that a rapid deployment of COVID-19 vaccination booster shots is crucial if the country’s services sector are to continue recovering from the impacts of the pandemic.

Suntory is a producer of Premium Malts beer, Yamazaki brand whisky and Suntory sales have rebounded to around 70% to 80% from pre-pandemic levels, as customers gained confidence in going out to eat.

He said that booster shots should be available as soon as possible to reduce the risk of serious infections, and the chance of developing breakthrough cases. Then pent-up demand for these drugs will start to rise,” he stated in an interview with Reuters on Wednesday.

Japan’s booster program has been slow to start. The original plan called for booster shots to be available within an 8-month period. However, the government has allowed municipalities some flexibility in reducing that timeframe if there are sufficient supplies.

Asking Niinami about Fumio Kishida the Prime Minister’s request for employers to raise their wages by 3% or higher at labour talks next spring. Niinami replied that although he was open to discussing raising Suntory’s wages, he didn’t think of any particular percentage.

He stated that he would love to increase wages as his business has performed better than the previous year. It is vital to motivate others.

Niinami was also an advisor for Yoshihide Sauga the former Prime Minister. He noted that while demand remains low, it has been weakened over time and that problems in supply chains are leading to higher operating costs.

According to him, the recovery has to begin at the demand end. He added that 20 trillion Japanese yen ($175billion), of pent-up demand, would ripple throughout the economy and make wage rises easier.

($1 = 113.7000 yen)