Latest news with #Kakehashi
Nikkei Asia
2 days ago
- Business
- Nikkei Asia
Goldman Sachs eyes $70m investment in Japan pharmacy systems firm
TOKYO -- Goldman Sachs will invest about 10 billion yen ($69.1 million) in Kakehashi, a Tokyo-based developer of software for pharmacies, the U.S. bank's first investment in a Japanese startup in two years. Goldman Sachs has invested more than $13 billion in startups since 2003. In Japan, it invested in marketplace app company Mercari in 2018 and taxi-hailing app developer Go in 2023.
Forbes
31-03-2025
- Business
- Forbes
£1,000 A Bottle Of Sake Made In The U.K: There Are Good Reasons For The Premium Price
Dojima Sake Brewery at Fordham Abbey in the U.K. Dojima Sake Brewery Dojima Sake Brewery was founded in 2018 as the first Japanese sake brewery in the U.K. It is set in the Fordham Abbey near Cambridge whose history goes back to the 13th century. The building is listed as a National Heritage, surrounded by a 75-acre garden and pastureland. 'We never imagined opening a brewery in such a sizable, culturally significant location,' says Kumiko Hashimoto who is in charge of Dojima Brewery's operations. The brewery is owned and operated by the Hashimoto family that has made sake in Osaka since 1822. 'My father Yoshihide Hashimoto is the second son of the family, which means he could not succeed the business as a custom. So he started brewing craft beer in 1995,' says Kumiko. The beer business was a success and the entire family moved to Myanmar for further growth. As time went by, the country's political uncertainty became an issue. After one of the six siblings left the country to study in the U.K., the close-knit family decided to move to the U.K. as well. 'After 13 years of making beer, my father wanted to come back to sake production. We also realized that sake was not well-known in the U.K. So we started looking for a place to set up our brewery,' Kumiko says. One day, the family casually visited the Fordham Abbey and fell in love with it. In order to start a brewery there, they had to purchase the entire property and repair it with numerous restrictions that came with the National Heritage status. Also, the project had to be approved by the local community, which was not familiar with Japanese sake. Knowing all the challenges, the family bought the property for approximately £3.5 million ($4.5 million) in 2015. It took them three years and a £9 million ($11.6 million) investment to complete the necessary administrative procedures, repairs and building of the brewery. This is a substantial financial commitment for a family-owned business. But they had a clear vision. Kumiko's mother Kiyomi Hashimoto was particularly eager and determined. She said, 'Japanese sake needs an ambassador to the U.K. and we should be the one.' Dojima Sake Brewery produces two types of sake. Neither is the most typical style of sake in Japan; they were carefully chosen to match the European palate. Dojima is a Junmai type of sake made with Yamada Nishiki sake rice, often called the king of sake rice, from Hyogo Prefecture. 'It is fresh, youthful and has a bit of a tropical note along with a richness from the rice,' Kumiko says. The other one is Cambridge, or Kakehashi in Japanese, connoting 'bridging cultures'. It is a Kijoshu-style sake, which is characterized by an elegantly viscous texture, sweet taste and bright amber color. Dojima ages the sake at least for three years before releasing it to intensify the flavor, which resembles botrytized wine like French Sauternes. Both sakes are available at £1,000 ($1,294) per 720 ml bottle, an impressively higher price than regular premium sake. But there are good reasons for Dojima's pricing principle. 'Japanese sake has been underpriced in general for a long time and it has been a serious issue for the sake industry. And we would like to do something about it,' says Kumiko. Like premium wine, high-quality Japanese sake is made with the finest ingredients and the production is an extremely labor-intensive process that requires craftsmanship. That is why sake brewing has been recognized on the UNESCO Cultural Heritage list in 2024. If you go to a fancy French restaurant, you can easily find a bottle of wine over $1,000 on the list. Why not the same price range for Japanese sake? The sake cellar at Dojima Sake Brewery. Dojima Sake Brewery Sake consumption in Japan peaked in the 1970s when consumers were looking for reasonably priced sake. The market shifted towards premium sake during Japan's bubble economy in the 1980s but the majority of consumers still preferred moderately priced products. Since then, the market has gradually changed and currently, the premium category is the driving force of sake sales in Japan. However, the trend is not powerful enough to elevate the price level of the overall market. Also, sake has been a regional beverage and in each region, consumers have enjoyed what the local breweries made, which is sold at an affordable price. This community-minded consumption structure may have discouraged breweries from raising prices. 'The Japanese sake industry is a cohesive community and it is hard to do something drastically different from others. But because we are outside of Japan, it is easier to try something new. By setting a higher price of sake equal to premium wine and proving that is accepted by consumers, we may be able to inspire the sake industry overall,' says Kumiko. Then, is Dojima's sake accepted in the market with the premium price? So it seems, according to the reactions of Dojima's members. 'Once you purchase our sake, you automatically become a member of Dojima Sake at Fordham Abbey. Currently, members are from the U.K. and other European countries of all ages. Also, quite a few people come all the way from Japan,' says Kumiko. 'Many people gave us comments like 'This changed my idea of sake. Now I know why they love it in Japan.' Some people buy a bottle for upcoming very special events like engagements, weddings, or children's graduation. We are excited to see our sake to be a part of such important occasions in life,' Kumiko says. Dojima also offers unique experiences for the members to enhance their understanding of Japanese sake and the underlying culture. 'As a member, you can join various events, such as sake tasting and private dinners. Also, you can have access to our Georgian Manor House to stay and enjoy a walk in our Japanese garden.' For instance, they invited the chef-owner of the Michelin-starred sushi restaurant Sanshin in Osaka and all the seats for the three-night event were sold out quickly. Top sake producers in Japan recognize Dojima's pioneering project in the U.K. For example, Kosuke Kuji, the fifth-generation president of the 123-year-old Nanbu Bijin Brewery, says, 'Dojima is envisioning the future of the sake industry. I am inspired by their innovative spirits and passion for preserving the precious tradition of Japanese sake.'
