The Japanese drinks group, Suntory Ltd., has announced that it has set up a subsidiary in Taiwan in order to develop its spirits sales there.

Suntory Taiwan Ltd. is capitalized at T$30m, 75% of which has come from Suntory, with the remaining 25% put up by the Taiwanese drinks company, Country House Inc., which was previously Suntory's distributor in Taiwan and in which Suntory owns a 25% stake.

The new subsidiary is due to begin trading in July with the aim of reaching sales of T$900m in 2003 and T$1 billion in 2005.