Suntory PepsiCo Vietnam expands charter capital to $260 mln amid revenue decline
Suntory Pepsico Vietnam Beverage (SPVB), a strategic alliance between Japan's Suntory and the United States' PepsiCo in Vietnam, has increased its charter capital to VND6,847 billion ($260.3 million), up 11%.
According to SPVB's updated business registration, the figure included 13% in Vietnamese dong and 87% in foreign currencies.
A Suntory Pepsico factory in Can Tho city, southern Vietnam. Photo courtesy of the company.
The joint venture, formed in 2013, possesses many popular brands including Pepsi, 7 Up, Mirinda, Mountain Dew, Gatorade, Sting, Lipton, TEA+, Aquafina, Revive, Good Mood, Tropicana, and Twister.
According to parent company Suntory's business review for the third quarter of 2025, the beverage business in Vietnam recorded a revenue of JPY100.4 billion ($640.3 million) in the first nine months of 2025. The figure decreased 13.5% year-on-year.
Suntory attributed this decline to sluggish consumption across the overall beverage market, driven by a macroeconomic slowdown and delays in clearing inventory for holidays. Additionally, unfavorable weather conditions earlier in the year impacted sales volumes.
But the firm noted that aggressive marketing and sales promotions helped the company’s key brands, such as Pepsi and Sting, outperformed the general market and gained market share in Vietnam.
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