Karuizawa is an increasingly rare Japanese single malt from a permanently closed distillery. When Karuizawa was built in 1955, the goal was to create a Japanese whisky in the Scottish tradition. In the mid-1950s, that meant Sherry-aged whiskies like The Macallan.

Karuizawa

Karuizawa is legend of the whisky world. Discover rare bottlings, single cask releases and old vintages on our marketplace. 

Karuizawa single malt whisky & rare cask releases

About Karuizawa

Karuizawa 

Few names generate as much excitement as Karuizawa in the whisky world. In recent years the lost Japanese distillery – which was only ever in operation for 46 years and was scarcely known outside of its domestic market during that time – has become an icon and collectors’ golden goose.  One of the reasons for Karuizawa’s astonishing collectability is its genuine scarcity. The Japanese distillery will never produce any more whisky. After lying dormant for well over a decade following its closure in 2001, anything that remained was demolished in 2016. This, coupled with the fact Karuizawa was one of Japan’s smallest distilleries, with a miniscule output, means there weren’t huge volumes of stock left when production ceased. But just how did this niche Japanese whisky become so valuable? And which Karuizawa whiskies should be on any serious collectors’ wish list? The history of Karuizawa When the Karuizawa Distillery was built in Miyota in 1955, the owners set out to create a Japanese whisky in the Scottish tradition. In the mid-1950s, that meant Sherry-aged whiskies like The Macallan. As such, the distillery used small stills and Sherry butts that were modified to fit the wine racks that had previously been used on the site when it operated as a winery. Karuizawa also imported 100% Scottish barley (from 1994, exclusively Golden Promise – a richly flavoured spring barley variety). Like Scottish distilleries, Karuizawa initially produced whisky for the sole purpose of blending. It wasn’t until 1976 that Karuizawa produced its first single malt.  The Karuizawa distillery was mothballed in 2001 when its owners Kirin Holdings – who had invested heavily in its wine enterprise – could no longer maintain whisky production. Karuizawa and its sister distillery, Kawaskai, closed for good 10 years later. In 2012, all the Karuizawa distillery equipment, including the stills, were sold, and anything that remained was demolished in 2016.  The distillery is named after the town, Karuizawa, which is just under two hours by train northwest of Tokyo. Until 2022, Karuizawa was the only town to have hosted both the summer and winter Olympic Games events (1964 and 1998 respectively). 

 What is so unique about the Karuizawa distillery location? The location of the Karuizawa Distillery was unique for a number of reasons: firstly, it was on the side of an active volcano, Mount Asama – which meant the water source was incredibly pure. It was also the highest Japanese distillery, so the temperature remained constant at 10˚C and humidity averaged 80%. The misty surroundings encouraged water evaporation before alcohol, resulting in highly concentrated and high-alcohol older whiskies (30- to 40-year-old whiskies at approximately 60% alcohol). Karuizawa distillery character The Karuizawa distillery’s extraordinary location, on the southern slopes of one of Japan’s most active (category A) volcanoes is credited with creating the unique characteristics of the single malt. The cold, snowy winters and summers with up to 80% humidity, created specific atmospheric conditions that were ideal for whisky maturation. The resulting liquid had the enviable ability to age gracefully for many decades, while retaining an abnormally high alcoholic strength and concentrated, complex flavour.  Karuizawa boasted a twin pair of small 4,000-litre stills and wooden washbacks. When the distillery closed in 2001, Shizuoka Distillery owners Gaia Flow bought both the stills and have only been able to successfully bring one back to life. 
 Karuizawa’s rise in popularity It might be easy to forget given Karuizawa’s current notoriety but very few people had heard of the distillery when it closed its doors in 2001. The distillery’s cult-like status is largely thanks to Englishman and former Whisky Magazine Editor Marcin Miller’s foresight. Via his company, Number One Drinks, Miller and his business partner David Croll became the sole distributor of Karuizawa, Chichibu and Hanyu in the early 2000s after purchasing the last 364 barrels.  When Miller and Croll bought the remaining Karuizawa stock after protracted discussions, the world was only just starting to take notice of Japanese whisky. After a smattering of awards for the likes of Nikka in prestigious tasting competitions, all eyes were on Japan by 2015, when Jim Murray named Suntory’s Yamazaki Sherry Cask 2013 the world’s best.  Smack bang in the middle of this, in 2007, the first single-cask bottlings of Karuizawa started to be released in Europe, opening a floodgate of Karuizawa appreciation and secondary market prices that hadn’t previously been seen.  After tiring of seeing Karuizawa bottles flipped and sold for exorbitant amounts, Miller handed over Number One Drinks’ remaining stock to the influential Taiwanese whisky collector Eric Huang in 2011, making him the largest holder of Karuizawa casks in the world. Huang was reportedly in possession of 20 casks in 2018, with other holders owning five casks between them.  One of these owners, renowned collector Mahesh Patel, chose to bottle The Legend of Asama series from his two casks in 2021. Patel’s casks (#4059 and #6183) were both distilled in 1981 and matured at Karuizawa for 20 years before they were moved to Chichibu Distillery and bottled in 2017. Prices for one two-bottle set of The Legend of Asama were in excess of £100,000. There is still some maturing Karuizawa stock that remains unbottled.  Karuizawa lives on: Komoro distillery Karuizawa is one of the whisky world’s truly lost distilleries, with no hopes of resurrection. But, there has been chatter about a new distillery on or around the site for years.  In 2020, it was announced Karuizawa Distillers, spearheaded by Karuizawa locals Koji and Yoshie Shimaoka, would build Komoro Distillery near the original location. The distillery construction has begun and should be completed by December 2022, with spirit flowing in early 2023. When it comes to the liquid, former Kavalan Distiller and Blender Ian Chang will head up production. Chang wishes to employ a number of the late Dr Jim Swan’s techniques at Komoro, including STR – shaved, toasted and re-charred red wine casks. Mizunara casks are also rumoured to be high on the agenda.   There is also keen interest in Shizuoka Distillery, whose owners Gaia Flow salvaged the stills from the original Karuizawa site.  Record-breaking prices In March 2020, a bottle of 52-year-old Karuizawa became the world’s most expensive Japanese whisky sold at auction, fetching £363,000 at Sotheby’s in London. A private collector paid roughly twice the pre-sale estimate for one of only 41 bottles in existence of Karuizawa 52 Year Old Cask #5627 Zodiac Rat 1960. In 2022, a 250ml bottle of Karuizawa 1960 47-year-old whisky sold for more than triple its estimated sale price at almost $160,000. Some of the most collectable Karuizawa bottlings Every Karuizawa whisky is collectable. While the 1980s is heralded as something of a golden age of whisky production at the lost distillery, due to the scarcity of liquid, anything put up for auction is likely to sell for a record-breaking sum.  The early releases from the Japanese distillery were very minimalist. When Karuizawa 42 Year Old (1967) Cask #6426 was first released, it was sold in a glass bottle complete with a white sticker label encased in a thin cardboard box. Initially released for £250, this bottling would later fetch in excess of £20,000 on the secondary market. Today, the most high-profile releases of Karuizawa are collected and displayed like works of art. Bottlings have become more and more beautiful – and elusive. Most are now sold via a ballot. Some of the most notable Karuizawa collections include the Karuizawa Fight Club Collection, Ghost Series, Thousand Arrows and Samurai collection.  The Karuizawa Geisha whiskies Geisha is one of the most recognisable and coveted series of Karuizawa whiskies. Each release of the two-set Geisha series has been met with unfettered excitement. To date, limited sets containing whiskies aged for 29, 30, 31 and 50 years bottled in the 1970s, ’80s and ’90s have been released.  The Geisha bottlings are iconic and collectable for the intricate nuances inside and outside the bottle. The first pair of Geishas (a Bourbon-matured 30-year-old and a Sherry-matured 31-year-old) were released in 2013. This is the only set to feature more than just the Geisha’s face on the bottle. One year later, a 29-year-old and 30-year-old set, named the Aika Geishas, was released. The Geisha’s mirror image graced these bottlings. The Karuizawa Golden Geishas (31- and 33-year-old) were the next in the series, followed by The Emerald Geishas (33- and 35-year-old). In 2018, The Murasaki Geishas, AKA Imperial Purple, were released. Only 60 bottles of each expression were allocated by ballot for £6,000 each. Two years later, another two Karuizawa Geishas known as The Sapphire Geishas were unveiled: a single-cask 31-year-old and 36-year-old. The Pearl (37- and 38-year-old), Sapphire (31- and 36-year-old), and Ruby (34- and 38-year-old) complete the collection.   Karuizawa Noh collection The NOH collection is one of the largest and most popular series of Karuizawa whiskies. Each one of the single cask expressions is incredibly highly sought-after. It is a rare occasion indeed when an entire collection becomes available. The Noh series, which was first introduced in 2008, is named after the traditional Japanese puppet theatre.  Our team is always sourcing the best-priced Karuizawa whiskies on the market. Browse all current Karuizawa listings, or contact us if you are looking for something in particular.

Karuizawa is a phenomenon. Bottlings from the lost Japanese distillery are some of the most collectable in the world – and they’re only becoming more scarce. We chart the small distillery’s mighty history and look at some of Karuizawa’s most highly sought-after whiskies 

We chart the small distillery’s mighty history and look at some of Karuizawa’s most highly sought-after whiskies as they’re only becoming more scarce.

Everything you need to know about Karuizawa

Closed Japanese whisky distillery Karuizawa is a phenomenon. For its entire operational life, it was barely known inside of Japan, let alone internationally. Yet today, its whiskies are recognised globally as amongst the finest and most age-worthy ever bottled and today is one of the most sought-after labels in the burgeoning rare whisky investment market. Bottles of Karuizawa continue to break all the records. Just last month a bottle of Karuizawa 52YO (1960) Cask #5627 became the most expensive Japanese whisky ever sold at auction, a single 70cl bottle selling for £366,000. So, what is it that drives the demand and what qualities do bottles of Karuizawa possess which others don’t?  Like most whisky distilleries, its origins are humble, and the astonishing demand is relatively new, closely paralleling the upward trajectory of the rare whisky market over the past ten years.  Limited production  By Scottish whisky distillery standards, Karuizawa had a short lifespan. Established in 1955 it was operational for only 46 years before being closed in 2001, a consequence of an economic slump domestically which impacted an industry with limited exports at the time.  Although now synonymous with single malts, the first spirit to leave the still in 1956 was destined for blending and this continued until a switch in focus and the release of its first single malt in 1976. At the time Karuizawa was said to be Japan’s smallest distillery and so the relatively short years it was active, coupled with a relatively low capacity to produce single malt, led to an always limited amount of whisky on the market. Moreover, after lying dormant for well over a decade, Karuizawa was eventually demolished in 2016 by its then-owners Kirin
Brewing Co, dashing any hopes of a revival. Karuizawa's unique character  Fitting for such an extraordinary distillery was its extraordinary location on the southern slopes of one of Japan’s most active (category A) volcanoes – Mount Asama. Named after the town in which it was based, Karuizawa is under two hours by train northwest of Tokyo and at the time of writing is the only town to have hosted both summer and winter Olympic Games
events.  The cold snowy winters, summers with up to 80% humidity and cool average annual temperature of eight degrees, creates specific atmospheric conditions ideal for whisky maturation. These conditions have been credited with creating the unique characteristics of Karuizawa single malt – the ability to age gracefully for many decades, whist retaining an abnormally high alcoholic strength and concentrated complex flavour. In terms of raw materials, it is rumoured that The Macallan may have been the inspiration. It is certain
that they sourced the same grain and wood having imported Golden Promise barley
from Britain and Sherry casks from Spain. Distribution  Had it not been for the formation of specialist Japanese whisky distributor Number One Drinks Co. in 2006, it is quite possible Karuizawa would have never entered whisky enthusiasts’ consciousness on the scale it has today. Founded by Marcin Miller and David Croll, it was after a cask sampling session in 2009 and after learning production had ceased, that they bid to purchase the distillery. The bid was rejected but a counterbid to
purchase the inventory was accepted after protracted negotiations making Number
One Drinks Co both owner and distributor of Karuizawa whisky.    Export markets beckoned and soon London-based retailer The Whisky Exchange and Parisian-based retailer La Maison Du Whisky would be blown away by what was presented to them and began bottling casks for an initially sceptical European market. Quality cannot be ignored however and a joint bottling in 2009 by the aforementioned retailers was compared with some legendary Scotch whisky bottlings when reviewed by respected whisky blogger Serge Valentin describing the Karuizawa 42YO (1967) Cask #6426 as “a Japanese masterpiece… once again, this baby reminds me of some old Springbanks. Say of the best sherried ‘Local Barleys’, if that rings a bell to you.” 95 points. Karuizawa-mania ensued, fuelled also by the success Japanese whisky was experiencing as a category on the international stage, most notably Hibiki and Yamazaki scooping numerous ‘World’s Best’ awards and receiving critical acclaim including the famous Jim Murray Whisky Bible award for Yamazaki Sherry Cask 2013 Edition, reported in the mainstream media as ‘Japan beats Scotland’.  The finite supply, increasing demand and sheer quality of the whisky meant Number One Drinks Co had an increasingly valuable commodity. Ever the purist, Marcin is reported to have soon tired of the spiralling secondary market prices and decided to sell off what remained of the reported 364 casks they originally owned and went on to found Japan’s first-ever gin distillery (Kyoto Distillery) trailblazing within a new category with Ki-No-Bi gin.    Presentation You’d be forgiven for being a little underwhelmed by the presentation of some early releases of Karuizawa. A case in point is the previously mentioned Karuizawa 42YO (1967) Cask #6426, which at the time was the oldest Japanese whisky. Now retailing for £20,000 inc VAT, it consists of little more than a glass bottle, white sticker label and thin cardboard box. At
the time of release however there was no precedent for the returns Karuizawa would achieve on the secondary market and at a release price of £250, considered expensive at the time, most were indeed opened and drunk.  Today, the most high-profile releases of Karuizawa are collected and displayed like works of art. The Karuizawa Pearl Geisha’s by Elixir Distillers are a stunning example of how the presentation can entice collectors and send secondary markets into a frenzy. They were a 2019 release exclusive to FINE+RARE and consisted of just 71 bottles of a 37YO Karuizawa and 172 bottles of a 38YO. When these two bottles are placed side by side, the
labels form a mirrored image of a Geisha visually as impressive as the whisky itself.  These were the fourth release in the series so not only were collectors desperate to get their hands on these two but also the previous editions and any future ones.  The future of Karuizawa No one knows exactly how many ‘new’ Karuizawa releases there will be. The remaining casks Number One Drinks sold are said to have gone to three buyers who control the market and have been releasing intermittently since. What we can be sure of is there is very little left to be bottled and we are witnessing the final years of releases after which the number of bottles in the market will only decrease year on year.  The story of Karuizawa is already legendary and it is one which cannot be repeated. For future generations of whisky enthusiasts all that will be left is the ever-decreasing supply and the chapter of Karuizawa in the history of Japanese whisky. In addition to the final releases however, there will be whisky for future generations which is intrinsically linked to Karuizawa.  Although the distillery site was completely demolished, the pot stills that created the unique ‘new make’ were rescued and are already producing spirit which is being laid down at Shizuoka Distillery. There was also one final run in the old distillery site in 2006 by Ichiro Akuto of Chichibu Distillery fame. A 2006 distilled Karuizawa crafted by Ichiro Akuto is something that we hope to one day see.   Browse all available Karuizawa or read more Editorial 

Bottles of Karuizawa continue to break all the records. Just last month a bottle of Karuizawa 52YO (1960) Cask #5627 became the most expensive Japanese whisky ever sold at auction when a 70cl bottle sold for £366,000. So, what is it that drives this demand? We investigate

Closed Japanese whisky distillery Karuizawa is a phenomenon. Find out about the distillery that has produced some of the world's finest bottlings

Karuizawa, Japan's most expensive whisky

Karuizawa: Japan's most expensive whisky

Japanese whisky shortages have made the headlines once again and these days, it no longer comes as a shock to see another iconic Japanese whisky discontinued.  Over the past twenty years a fanatic, ever-growing fan base has risen around Japanese whisky. While the category deserves nothing less, this increased popularity continues to deplete the remaining stock from Japan's largest and most popular producers. 
 Following the footsteps of the Hibiki 12, Hibiki 17, Hakushu 12-year-old, and aged Yoichi and Miyagikyo expressions, Nikka has just announced the discontinuation of the Taketsuru Pure Malt blended range. The entire Taketsuru range will be coming off the shelves, from the affordable Taketsuru Pure Malt NAS, to the multiple award-winning aged expressions, the
25, 21, and 17-year-old. In 2019, Nikka also discontinued their popular Nikka Coffey Malt, Coffey Grain, and Nikka 12.  Discontinuations of Japanese whisky come almost every other month. Yet, for such a successful category, led by some of the world’s largest drinks companies one question arises - Why is this happening? After Suntory's Yamazaki 12-year-old brought in the first international award at the 2003 International Spirits Challenge, the floodgates opened, and accolades for Japanese whisky haven't stopped since. “World’s best single malt”, “World’s best blended whisky”, “World’s best single cask single malt”; Japan has topped almost every style category. Yet, before this success on the global stage the Japanese whisky industry was suffering. The rise of beer and Japan's own spirit, shochu, in the ‘80s saw whisky sales crash domestically. Being a rather closed-off nation, Japanese whisky makers like Suntory and Nikka never imagined their products would be sought after abroad and thus continued to produce whisky with the newly uninterested, domestic market in mind.  Production was dramatically reduced, and this has caused the current lack of well-aged stock we are experiencing today. Nikka, who has now stopped producing the Taketsuru range, halted production at their distilleries for two years. The late 80s were a period of great economic strain and uncertainty for the Japanese whisky industry and while most pushed forward, some distilleries had to shut down near the turn of the millennium. One such
case was the Karuizawa distillery, and the events surrounding this brand after its closure truly speak for Japanese whisky as a whole. After the aforementioned awards, the world began to notice Japanese whisky. Suntory led the charge with the Yamazaki, Hibiki, and Hakushu brands while Nikka came through with punchier, more Islay-esque expressions from Yoichi. Karuizawa’s remaining stock, in the hands of some successful and forward-thinking entrepreneurs, grew into one the most collected whisky brands in the world today. Awards, interest, and companies with a goal to push Japanese whisky abroad dynamically entered the industry and today Japanese whisky
is one of the rarest, most admired categories in the global whisky industry. Karuizawa has topped the charts, with their very final casks expected to be bottled in 2020. Suntory and Nikka continue to remove their most famed expressions from the shelves, further indicating that their dwindling supply means they are also likely to be discontinued at some point in the near future.  However, smaller producers, like the Chichibu distillery, have amassed a cult-like fan base despite producing and releasing much younger aged whiskies. The popularity surrounding no age statement or young three to eight-year-old releases, show that age in Japanese whisky is not everything. Well not exactly - with an age statement attached, prices skyrocket. The Taketsuru discontinuation shows clearly that Japanese whisky's popularity is continuing, and producers still can't keep up.  From a collector's point of view, the news will only see the prices of Taketsuru Pure Malt rise and as a result, this will bring up most other Japanese blended whiskies with it. For drinkers, sadly, this will make one of their favourite, go-to expressions harder to find and quite a bit
pricier. The tale of Japanese whisky has been an eventful one, to say the least. While discontinuations and stock depletion isn't the best news for whisky lovers, it’s all part of the story that has made Japan’s whisky what it is. The Tokyo 2020 Olympics are on the horizon. Rumour has it many distilleries will be releasing special bottlings and hosting events as the world's eye focuses on Tokyo. Looking ahead, 2020 may be the most exciting year for Japanese whisky yet, so stay tuned. Discover all currently available Japanese whisky or read more Editorial

We explore the ever-increasing supply and demand issues currently plaguing Japanese whisky producers. 

Examining the ever-increasing supply and demand issues plaguing Japanese whisky, including the discontinuation of Nikka's Taketsuru range and Coffey series

Exploring Japanese whisky shortages 

Caught short: Japanese whisky 

One hundred years ago, two men, inspired by the Scottish distilling tradition, produced the first Japanese whisky. In the years that have followed, the category’s fortunes – much like its founders’ relationship – have been turbulent.    The story begins in 1923 when pharmaceutical wholesaler turned Spanish wine importer Shinjiro Torii invested his family fortune in building the Yamazaki distillery, against their advice. Torii enlisted the help of wet-behind-the-ears chemist Masataka Taketsuru – who had spent time learning his craft in Scotland – to lead production on their first whisky, Suntory Shirofuda, which was released in 1929. The two men did not see eye to eye and parted ways following the dismal reception of Shirofuda. Taketsuru famously went on to found the other great Japanese whisky producer, Nikka, and their fierce rivalry persisted. This is one of the reasons Japanese distilleries, to this day, blend in-house rather than trade liquid. Despite this rocky start, the Japanese domestic whisky market looked bullish by the late 1930s – Yamazaki’s next whisky (Suntory Kakubin, released in 1937) was more warmly received and Taketsuru successfully re-entered the scene with his first whisky, Nikka Yoichi, in 1940.  Fast forward to the early 1980s and the category was in fine fettle – Suntory and Nikka had both released their first single malt expressions and there was plenty of cause for optimism. But this prosperity sadly did not last as a steep decline in consumption caused the Japanese whisky market to splutter and almost entirely stall, resulting in many distilleries, including Karuizawa, being forced to close their doors. Both Yamazaki and Nikka managed to stay afloat but their output was significantly reduced as the economy and category stagnated, marking a bleak 25-year chapter in Japanese whisky’s history.   When demand was reignited around the mid-to-late 2000s, it largely came from Europe. A perfect storm caused this spike in interest, including wider interest in Japan (think Bill Murray in Lost in Translation), the resurgence of the Highball cocktail (circa 2007) and Suntory’s Yamazaki Single Malt Sherry Cask 2013 being named the world’s best in 2014 – a first for the category. Around this time, the world was also introduced to Ichiro Akuto’s highly collectable Card Series and the lost distilling icon, Karuizawa. “The mad scramble for crumbs on the Japanese whisky scene is something nobody could have predicted,” acclaimed Japanese whisky writer and Ghost Series independent bottler Stefan Van Eycken tells me. “In the space of 10 years, the situation went from being able to buy a whole range of single-cask Japanese whiskies at a big electronics chain for peanuts to bottles not even reaching the shelves of liquor stores anymore. “Even I, who had been exploring the Japanese whisky scene in the ‘dark ages’, couldn’t have predicted that,” he says matter-of-factly. “If I could have, I would have rented a van, bought up all the bottlings that were available for purchase and I could have retired by now.” Yumi Yoshikawa joined the team at Chichibu in 2013 after a two-year stint in Scotland, first working in the Highlander Inn in Craigellachie – which will require little introduction for spirits journalists or enthusiasts – and at the Bruichladdich Distillery on Islay. “People didn’t know the value of aged [Japanese] whisky back then,” Yoshikawa tells me. “Or that Japan had a long whisky history,” she adds. Somebody who was instrumental in educating the world on these two points is Marcin Miller, a man whose fortitude dragged Karuizawa out of obscurity. The genteel and thoroughly entertaining former Whisky Magazine Editor turned drinks entrepreneur, recalls the landscape when he and business partner David Croll first tasted those fateful Karuizawa single casks in the early 2000s.  “The most common complaint [from whisky enthusiasts] at the time would seem to be that it's all very well for me tasting this stuff but we never get to see any where we are in Western Europe or Northern America,” he recalls. So the two men set about changing this by buying the remaining stock from the then-lost Karuizawa, bottling it, and making it available to the masses – with resounding success. It’s a gross misapprehension – held by many – that the duo meandered into a meeting room, tasted a parcel of Karuizawa, bought it on the spot, and bottled it shortly after, grinning like Cheshire cats as the coffers swelled. In truth, it was four and a half years of negotiation and countless sleepless nights during the process. When pallets of casks from the ghost distillery in a nascent whisky market were finally shipped to them, there was no guarantee the wider whisky world would be interested. “Whatever anyone says, it really was not easy…” He trails off, transported to that time, and all the challenges the pair transversed when bringing the mature Japanese whisky from a then-unknown producer to its now almost mythic status.  Miller talks of the “extraordinary, phenomenal effect” Karuizawa had on him. Croll, Miller and acclaimed drinks writer Dave Broom – who has since quite literally written the book on Japanese whisky – initially tasted 69 single-cask Karuizawa samples. “I would have bottled any of those casks,” Miller says, a fond smile warming his face. If it hadn’t been for Croll, who had lived in Japan for 30 years and owned a successful drinks business, Miller says they likely never would have got a foot in the door at Karuizawa – or secured the exclusive distribution rights of the much-lauded Chichibu and Hanyu. “I dare say Karuizawa would have been blended away into big plastic five-litre tubs of supermarket whisky,” Miller says reticently. When Van Eycken moved to Japan around the same time as Miller and Co were negotiating the Karuizawa deal, he hadn’t even realised whisky was being produced there. Japanese whisky consumption and production were at an all-time low and the general feeling, he says, was that the whisky made in Japan was “cheap and good for getting a buzz when going out, but that the good stuff – that you would savour – was Scotch, and Bourbon, to a lesser extent”. The intrepid Van Eycken was taken aback by the quality of the long-aged liquids he sampled on his travels and couldn’t understand why this sentiment wasn’t shared domestically or further afield. When Japanese whisky’s popularity did finally begin to soar, he was perfectly placed to fill the knowledge chasm with his widely acclaimed Nonjatta website and, later, his seminal work Whisky Rising – a fully updated second edition of which came out earlier this year.  “When I wrote the original edition in 2016, there were 14 active distilleries in Japan,” he says. “Fast forward to mid-2022 and there were 41 active distilleries (and even more in the progress of getting ready to distil),” Van Eycken tells me. All of the new distilleries, he says, are attempting to follow the so-called “craft model” with a single pair of pot stills and fairly limited production. The inspiration, of course, being Ichiro Akuto and his incredible accomplishments over the past 15 years at Chichibu. “But not everyone can be an Ichiro – though most new distillers are certainly hoping to be equally successful, if not more, than Ichiro,” he adds. Several of these new distilleries are located in and around the town of Karuizawa. “My personal feeling is that it doesn’t make a lot of sense to try and compete with the legend that is the (old) Karuizawa distillery,” Van Eycken is quick to add. “The liquid that was made there turned out to be something very special, and not only by design. I have had the dubious pleasure of tasting the new-make from the old Karuizawa distillery and it was absolutely foul.  “But during the maturation process, over 20, 30, 40 years, something magical happened. Some of this can be explained, but most of it is a hermetic mystery. We simply cannot know why decades later this harsh spirit transformed into a sublime whisky (in most cases). Even if you wanted to replicate this whisky – or aspects of it – you couldn’t.  “And hoping to match the quality of the (original) Karuizawa whisky… well, it’s good to aim high but it's a bit like naming your kid Roger Federer in the hope that he would turn into a tennis player of the same calibre. Why would you want to put that sort of pressure on the kid?”  Miller is humility personified and doesn’t want to come across as a wizened cynic or, in his words, “boring old fart”, but he’s not confident that all the country’s new distilleries are set for success. “I think people are now trying to replicate the business success but without the foundation of the liquid. They are selling Japanese whisky futures but who knows what the liquid is going to be like because it's not just A + B = C.” There is a cautionary tale in the annals of Scottish whisky distilling that Japanese producers might be wise to heed. Scotch has famously fallen victim to its own success – with booms and busts resulting in whisky lakes, or lochs, that have crippled the industry and forced mass distillery closures. In so faithfully replicating Scotch, there is a real danger Japan will find itself back in the 1980s when the likes of Karuizawa were shuttered. This time, however, there would be many more casualties.      “For the time being, the Japanese whisky scene continues to be marked by an unbridled optimism,” Van Eycken adds. “Distillers price their (invariably young) whiskies very high (compared with similarly established whisky markets around the world) and consumers snap up the bottles regardless of the (sometimes unjustifiably) high prices.”  This price war is one of the reasons Miller et al sold their remaining stock of Karuizawa, which had initially been priced fairly but wasn’t the case when they left the scene. The 1960 Karuizawa, for example, which yielded 41 bottles was released circa 2014 for £12,500. Within a decade, those same bottles were easily reaching $375,000. “That's not a bad return in 10 years,” Miller says caustically. “But that's not why we did it. If that had been our motivation, we'd have just held on to it and had 41 times that.” For those still in the industry – and disciples of it – there is a real push to protect the integrity of Japanese whisky and futureproof it. Yoshikawa picks up the point, outlining that the few have muddied the water for the many: “The rapid publicity and the reputation of Japanese whisky have led to its use of excessive PR strategies, even when this is not in line with the facts of the product.” For these reasons, she is an advocate of more stringent regulations, like the ones announced by the Japan Spirits and Liqueurs Makers Association in 2021 which aims to restrict certain practices – like labelling whisky that isn’t actually from Japan as Japanese whisky – akin to those enshrined and strongly policed in Scotland. But she, like many, thinks these could go further and believe it is important to continue scrutinising the practices of the small and larger players, ensuring there is greater transparency and less “skullduggery”, as Van Eycken puts it. As the ink dries on the past 100 years of Japanese whisky, no one knows what the next century might entail – but there's plenty of excitement. The landscape will undoubtedly change once more, and new giants and legends will likely emerge. For whisky enthusiasts, the challenge – as always – will be pre-empting the plot twists and securing bottles before they become little more than folklore.  Browse all Japanese whisky or read more editorial

As Japanese whisky enters its 100th year, producers are in a mad scramble to build the next legend. Holly Motion assesses whether previous fairytale endings can be repeated – and ponders if those individuals attempting to stand on the shoulders of giants might have a great fall

Exploring the epic story of Japanese whisky – from its genesis, to rebirth and future – as it celebrates its centenary.

100 years of Japanese whisky

A modern epic: 100 years of Japanese whisky

The spirits market is booming. In October 2019, a bottle of 1926 Macallan FINE+RARE 60-Year Old became the most expensive bottle (of either wine or spirits) ever sold at auction in the world, going for £1.5 million – £300,000 more than the same whisky had sold for a year before.  That record may not have been broken yet, but it’s likely only a matter of time. There was a 33.37% increase in the volume of single malt Scotch whisky sold at auction in 2019, with 143,895 bottles sold, worth close to £58 million – a 41.54% increase on 2018. Over the last 10 years, rare whisky has outperformed every other alternative luxury asset, with 353% growth to 2020 Q2. “The rare whisky market has performed phenomenally well over the last decade, outperforming many other categories. We’ve seen growing demand in premium whisky from clients globally,” says Craig Norton, our Managing Director for the UK and Ireland. In five years, we’ve seen the number of spirits buyers rise by 601%, with spirits sales in the same timeframe growing by 698%.  It’s an exciting time for whisky, with a growing international audience as Scotch whisky exports rise (105% in the last 10 years), especially in developing markets like China (up 323% in 10 years). There are also an increasing number of younger consumers diving into the category nose-first; Sotheby’s first online spirits auction last year saw 42% of buyers aged under 40.  The market has so far been dominated by a handful of the biggest names in single malt Scotch, with The Macallan representing an astonishing 40% of the market by value; however
Japanese whisky isn’t far behind. A bottle of 55-year-old Yamazaki sold for HK$6.2 million (US$795,000) in August last year, setting a new record for the category.  The now-closed Karuizawa has become a cult name among collectors, and had something of a halo effect, as our Head of Spirits David Walters said, “Japanese whisky is still going crazy. We sold the Karuizawa Pearl Geisha 37 Year Old (56.9%) pre-release for £12,500 in bond; just a year later it was going for £24,800. The most expensive single bottle of whisky we’ve sold was a Yamazaki 50-year-old (2011 release), for £170,000.” The last two to three years has, however, seen a shift, with a new focus and interest on not buying just bottles but whole barrels or casks. “The ability to personalise or customise single cask bottling has proven extremely appealing to clients,” Norton says, “However, it’s not simple. Barriers can be a lack of understanding of value, the process of maturation or
reselling, or gaining access to the market.”  “The challenge can be guaranteeing provenance,” explains Walters. “Our preference is always to work directly with the distillery.” The IWSR estimates the value of the Scotch whisky cask market at $40 million – and forecasts a trend for cask sales in other categories, such as Bourbon, rum and other US whiskey. While occasionally we see more mature casks (such as a mature Macallan Sherry butt we sold last year, for £600,000), it is more common to see casks as futures, much like en primeur.  Given the long-term timeframe for producing fine whisky, with the first product often not released for five or 10 years, cask sales have fast become a way for the rising number of new distilleries to build revenue in their early years. It is rare for casks to be sold after the first year of production, however, making them a once-in-a-lifetime opportunity to get in on a new distillery – one that may just be the next big thing. It’s this excitement, Walters says, that should attract buyers who are also in it for the journey. Naturally, “founders’ casks” – as they are known – are finite in supply, adding to their appeal for collectors. The spirits market remains dominated by single malt Scotch – with Brora, Karuizawa, Dalmore, Bowmore and Springbank amongst the most collected names – but consumers are branching out. “We’re beginning to see collectors diversify their portfolios,” says Walters, “discovering premium and collectable rums.” He highlights the popularity of Caroni – a Trinidad distillery, no longer in production, that has parallels with Karuizawa – and Hampden, in particular. Fortunately, Covid seems to be having little impact on sales. Even in the last year, the
market has seen 12% growth; as Knight Frank reports, “Anecdotally, drinkable investment classes have always down well in a downturn, perhaps as their owners have looked to drown their sorrows.” In fact, IWSR data shows that “between 2008 and 2012, global prestige-plus
spirits (generally $100+) grew 82% in volume, and almost 230% in value, [reinforcing]
the resilience of high-end spirits after economic challenges”. Nevertheless, our advice is always to buy only what you are prepared to drink – a worst-case scenario that few wine or spirits lovers find much of a burden. Browse all whiskies or read more Editorial

The spirits market has seen a decade of astounding performance – but what is happening, and what should you be looking to buy? 

The spirits market is booming. We take a closer look at the spirits market and explore what is happening, and what should you be looking to buy 

The spirits market overview 

In high spirits: market overview

The voice of independence: Lisa Perrotti-Brown MW  After stepping down from the Wine Advocate, this year saw Lisa Perrotti-Brown MW launch her new platform, The Wine Independent. Her first big review was of the 2021 Bordeaux vintage – and she made a mark with it, looking to overhaul the scoring scene today. We caught up with her about the state of wine writing – and why it was time for her to strike out on her own.  Read more  Everything you need to know about Karuizawa  This year saw us dive into some of the spirits industry’s biggest names – with our “Everything you need to know” series looking at The Macallan, The Dalmore and Glenfarclas, as well as Karuizawa. This ghost distillery has become one of whisky’s most exclusive – and elusive – producers. Here we dig into exactly what makes the Japanese icon, and its spirits, so sought after.  Read more  Bordeaux 2021  It’s unsurprising that the latest vintage from Bordeaux was high up the most-read list. The 2021 season was fascinating to delve into – offering our first post-Covid chance to visit most producers, in a year where selection was key. From our first thoughts, full report, breakdown by commune, critics’ round-up and investigation of chaptalisation, you couldn’t get enough of our coverage.  Read all Bordeaux 2021 coverage  Strength in diversity: Cheval Blanc  This year saw Saint-Emilion’s new classification announced, after much public and political division – with Cheval Blanc one of several producers who walked away from the system. We caught up with the property’s Technical Director Pierre-Olivier Clouet about the appellation today – and just what makes it so endlessly exciting.  Read more  The lost wines of Haut-Brion  Pessac-Léognan First Growth Ch. Haut-Brion is one of the world’s most famous producers. It sits at the head of a number of interlinked, illustrious estates owned by the Clarence Dillon family. We dove into the genealogy of the Haut-Brion properties, the wines that were once part of the extended range and where they stand today.  Read more    See what was popular last year or explore more Editorial 

Our team is always on the trail for the most interesting stories in the world of wine and spirits. In 2022, we explored everything from producer histories to the latest vintages released, from interviews with industry icons to essential guides and much, much more – but these were the most popular

The five most popular wine and spirits features we published in 2022 – as chosen by you, from detailed vintage reports to deep-dive interviews

The biggest wine and spirits stories of 2022

The biggest stories of 2022

Ian Chang is one of the most well-respected and accomplished whisky makers in the modern era. After 16 incredible years at Kavalan, in which he and the distillery went from unknowns to untouchables, Chang is embarking on a new adventure. This time he is turning his sights to one of the most exciting whisky-producing regions in the world: Japan. You’d forgive Chang for being egotistic. Over the past decade and a half, the Taiwan-native has received countless awards and accolades for his Kavalan single malts and is fawned over by whisky lovers and the press. And yet, even through his medical mask – there are still Coronavirus restrictions in Japan when we speak via Zoom – on a slightly pixelated screen, you can feel a genuine warmth and kindness emanating from the Master Blender. He is fiercely intelligent, good-humoured and modest. When it was announced in 2020 that Chang would be leaving Kavalan, the news was met with surprise and intrigue. Why was he leaving? Where might he work next? Would he stay in Taiwan? “The reason why I left Kavalan is because I wanted to change to a different environment,” Chang tells me from his new office in Japan. “Before this project, I only had experience in Taiwan,” Chang explains. “Producing whisky in a hot climate, which means that age statement whisky can virtually not be produced due to very high angel share.” Chang says he immediately signed onto the new distillery project spearheaded by Karuizawa locals Koji and Yoshie Shimaoka. While some details are already in the public domain about Komoro, located near the fabled original Karuizawa distillery site, this is the first time Chang has spoken at such length about his intentions for the new Japanese whisky distillery. “In Japan, in Karuizawa, they have a very similar climate to Scotland, so our plan is to produce whisky with age statement,” he tells me with glee. The first Komoro age statement will be a 12-year-old, followed by a 16- and 20-year-old. Thereafter, the age statements will increase in five-year increments, Chang says. There will be some non-age statement bottlings before the whisky reaches the 12-year mark. “So hopefully I can see my very first 40-year-old whisky,” he says with a soft chuckle, “If I’m still alive – fingers crossed.” Chang joined the whisky industry as a novice (or “from zero” as he calls it) in 2005. After graduating with a degree in food technology, he applied on a whim to a role at Kavalan’s parent company. Despite his lack of experience, Chang passed the interview stage, which required him to identify flavour notes in whisky, with flying colours. For the first year, while the distillery was being built, Chang voraciously read everything he could on whisky. Then, in 2006, the young whisky-maker-to-be met a man who would change his and the distillery’s destiny: Dr Jim Swan. “That was when the official learning started,” Chang tells me. Dr Swan – who was dubbed the “Einstein of whisky” for his pioneering scientific research and ability to help new distilleries with his unparalleled whisky production and maturation know-how – began by teaching Chang the fundamentals. This education took the best part of three years and covered everything from malting, milling, mashing, fermentation and double distillation. By the time the very first Kavalan Classic Single Malt was released in year three, the team knew they had produced something exceptional, and it didn’t take long for the wider whisky world to start taking a keen interest in Taiwan, Chang and Kavalan’s ground-breaking techniques. Not that Chang would say as much. Ever humble, he continues: “That’s when my focus with Jim Swan switched to blending.” The duo travelled extensively, visiting cask suppliers across Europe and the USA, while Dr Swan taught his protégé everything he knew about whisky from his 40-year career, and, you sense, his learnings from the school of life. When Dr Swan suddenly passed away in 2017 at the age of 75, he left a gaping chasm in the industry and many people’s lives, Chang included. Five years after his mentor’s sudden passing, Chang occasionally uses the present tense when talking about Dr Swan and takes a nano second to compose himself before he continues with his train of thought. The reverence and respect is clear to see. Of all the people Dr Swan taught, directly and indirectly, Chang spent the longest time under his tutelage, and he continually credits him for every success that he has had. For his latest project at Komoro, Chang said he wants to “bring Japanese whisky to the next level” by applying the many techniques he learned from Dr Swan. It’s a brave move in more ways than one. Chang has relocated to the country and doesn’t speak the local dialect, yet – but he is very grateful that his local colleagues are willing to learn and speak English to him. He is also joining a whisky-producing region that is at a very interesting crossroads in its history. It was announced last year that new regulations will come into force in 2024 which stipulate all liquid labelled as “Japanese whisky” must be produced (from fermentation to bottling) in Japan. This undoubtedly wouldn’t have been a problem for Komoro but it does mean several very high-profile competitors are scrambling to change their practices accordingly. Chang doesn’t comment on this but he does say: “To be honest, so far, I think all the major producers, such as Suntory and Nikka don’t really use STR [Shaved, Toasted and Re-Charred casks] at the moment. “So, by introducing Jim’s technologies and also his way of new-make production we are going to enrich the spirit produced in Japan and make a whisky which will be very much more enjoyable for consumers to enjoy globally – this is our aim for the future.” One of Dr Swan’s most famous contributions to the whisky world, and Kavalan specifically, was STR (Shaved, Toasted and Re-Charred casks). The invention was born out of necessity in 2010 when shortages of refill casks began to cripple the industry. Chang says Kavalan was in “serious trouble” because the distillery was a mere four years into production and couldn’t secure any re-fill casks for their new-make spirit. It was then that Dr Swan suggested the team used ex-wine casks instead of the in-demand refill Bourbon. This was highly irregular; ex-wine casks were undesirable because of wine’s organic acids, which would spoil the whisky and make it astringent. Simply, the process of shaving, toasting and re-charring casks removes the unwanted acids, breaks down the lignin structure of the wood to release wood-related compounds (including the desirable vanillin and caramel notes), and imparts a nice, sweet character to the spirit.  When asked what the secret is to producing an exceptional whisky, unsurprisingly Chang’s answer has been heavily influenced by his mentor. For Dr Swan, it was always about layering flavours and textures. “We want to make sure that it’s a rich and complex whisky but at the same time, very balanced without any off notes. To Jim, off notes were a big minus in terms of quality and that is why distillation and fermentation is also very critical in addition to wood policy,” Chang explains. “Because off notes can come from three places: fermentation, from the wood and also from fast distillation, these are the three areas that Jim always paid attention to.” This attention would include visiting cask suppliers regularly and ensuring distillation is slow to promote interaction between the new-make and copper. He would also keep a close eye on fermentation so the temperature increases from the beginning until the end. For Chang, and Dr Swan, there is a science and an art to whisky making and blending. “When it comes to marketing, especially during masterclasses, sometimes you’ve got to tell a little bit of stories so that’s when parts of the art and romance come in,” he says, laughing gently – making him even more endearing. “But to be honest, to be a blender, sometimes you have to use your imagination as well. You have to imagine how a Sherry cask will blend with a peated new-make, for example. “Jim always said, whisky making is a combination of art and science. And I think it’s maybe half, half. I think if you don’t have good imagination, you cannot really be a good blender but if you don’t know the science and just know the romantic side you cannot produce good new-make to begin with, so you have got to combine the two to make sure that the new-make and the wood go very nicely together.” During his 18 years in the industry, Chang has seen a lot of change. With new distilleries opening at a staggering rate and lost icons being brought back to life, there has arguably never been a more exciting time to work in single malt whisky production. Chang agrees and says things are looking “very bright”. So, what does a man like Chang do in his spare time, when he’s not producing remarkable whiskies consumers want to buy? “I watch Netflix,” he says before I can finish asking the question, and then lets out that laugh again. It’s a typically frank and relatable response that comes as a slight shock to us both. Most would – truth or not – say something that made them sound high-brow but not Chang. He continues to say that he’s recently finished the entire box set of 24 (a recommendation by a friend who presumably thought he had a lot of time to kill or difficulty sleeping), a Taiwanese drama, the latest Karate Kid (Cobra Kai) and a series about Japanese history. It’s an eclectic mix and refreshingly honest. As the Komoro project enters its next stage and whisky starts to run from the stills, there will be a lot of pressure on Chang to produce another award-winning single malt but those who know him won’t be concerned. With his formidable knowledge, calm confidence and unwavering integrity, you sense he’s going to do himself – and Dr Jim Swan – proud. Browse all whisky listings or read more Editorial

Ian Chang is the man behind Taiwan’s first and most decorated distillery, Kavalan. For 16 years, this young whisky maker defied expectations and redefined world-class single malts. Holly Motion discovers how he became the best of the very best

The ex-Kavalan Master Blender Ian Chang on how his mentor, the late Dr Jim Swan, taught him how to become one of the world's most well-respected whisky makers

How Kavalan’s Ian Chang became a whisky icon

Ian Chang: the humble student

Japan

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