The Ethical Spirits

What The Ethical Spirits does

The Ethical Spirits (エシカル・スピリッツ株式会社) is a Tokyo-based distillery founded in February 2020 that produces premium gin and spirits by upcycling food and beverage waste streams — primarily sake lees (sake kasu), cacao husks, coffee grounds sourced from Japan Airlines lounges, used tea leaves, recycled hops, and out-of-spec or expired sake and beer — into branded spirits sold through direct-to-consumer channels. Its core technology is a proprietary multi-ingredient distillation capability developed over six years, supporting four product brands under the 'Tokyo Ethical Gin' umbrella: LAST (signature gin transforming 'last' residual materials into 'lasting' value), REVIVE (distilling expired beer and sake into gin), ETHIQUE (exploring underused ingredients such as cacao husks), and ENIGMA (monthly limited-edition experimental releases). The company is also commercializing 'WoodSpirits,' the world's first wood-derived alcohol, using licensed enzymatic saccharification and fermentation technology from Japan's Forestry and Forest Products Research Institute.

The company operates Tokyo Riverside Distillery (established 2021 in Kuramae, Taito-ku) — featuring a 1F official store, 2F Bar & Dining 'Stage,' and rooftop botanical garden — and is constructing a second facility, Tsukubane Greenhill Distillery, in Tsukuba, Ibaraki Prefecture (target spring 2025 completion, repurposing an abandoned school gymnasium) that will also manufacture WoodSpirits. Distribution runs through the company's own e-commerce store, Amazon Japan marketplace, on-site retail, and on-site bar experiences; premium unit pricing (1,500 yen / 200ml and 3,500 yen / 700ml for LAST EN -En-) supports a product-led, story-driven DTC model.

Revenue mechanics blend spirits product sales with distillery-tour and Bar & Dining revenue, targeting sustainability-conscious consumers and premium craft spirits enthusiasts as primary segments with hospitality businesses as a secondary channel. The company has raised at least 580 million yen across funding rounds in 2022 (200M yen seed) and 2024 (380M yen), with disclosed participation from Beyond Next Ventures, SMBC Venture Capital, Suntory Holdings, Vector, and Siiibo. The team is led by Chairman Yuya Yamamoto, CEO Chikara Ono, and CTO/Chief Distiller Ayumu Yamaguchi; Tokyo Riverside Distillery holds ISO 22000:2018 food safety certification as of January 2024.

Name

The Ethical Spirits

Legal name

エシカル・スピリッツ株式会社

Website

https://ethicalspirits.jp

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

The Ethical Spirits is a Tokyo-based distillery founded in 2020 that produces premium gin and spirits by upcycling food waste streams including sake lees, cacao husks, and coffee grounds, selling directly to sustainability-conscious consumers and craft spirits enthusiasts through owned e-commerce, Amazon Japan, and on-site retail.

Ownership category

akta.pro rank

Product category

Premium Craft Spirits

NAICS

Distilleries (31214), Distilleries (312140)

SIC

Beverages (2080)

akta.pro primary industry

Distilled Spirits Production & Distilling (AFAFAAAC)

akta.pro secondary industry

Distilleries (Tasting Rooms) (THAFALAG)

Keywords

• Upcycled spirit production
• Ethical gin distillery
• Sake lees distillation
• Craft spirits manufacturing
• Sustainable alcohol production

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices3 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Spirits Product Sales: Sale of ethical gin and spirits products through multiple channels including e-commerce, retail store, bar & dining, and marketplace platforms like Amazon. Products include LAST series, REVIVE, ETHIQUE, and ENIGMA brands.
2. Distillery Experiences: Revenue from distillery tours and Bar & Dining Stage operations at Tokyo Riverside Distillery.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

The Ethical Spirits operates urban distilleries that produce premium gin and spirits distilled from upcycled and underutilized materials — primarily sake lees (sake kasu), cacao husks, coffee grounds, used tea leaves, recycled hops, out-of-spec sake and beer, and yuzu peels. The company sells its portfolio of ethical gin brands (LAST, REVIVE, ETHIQUE, ENIGMA) through its own e-commerce store, Amazon Japan, and a physical retail store plus bar at the Tokyo Riverside Distillery. It also offers distillery tours and on-site Bar & Dining experiences.

Product overview

The Ethical Spirits is a distillery company specializing in ethical spirits manufacturing with four main gin brands under its portfolio. The flagship brand 'LAST' (Tokyo Ethical Gin) transforms overlooked materials into premium gin through distillation. 'REVIVE' revives expired beer and sake into gin. 'ETHIQUE' explores undiscovered flavors using ingredients like cacao husk. 'ENIGMA' offers monthly limited-edition spirits with unconventional recipes. The company is also developing 'WoodSpirits,' the world's first wood-based alcohol using timber as raw material. The portfolio is unified by the company's sustainability mission of finding value in materials that would otherwise be discarded.

Differentiator

Problem solved

Functional benefit

Brands

• LAST: Tokyo Ethical Gin signature brand. Discovers new value in ingredients that might otherwise be left behind, transforming them into something that lasts into the future.
• REVIVE
• ETHIQUE
• ENIGMA

Products and services

• LAST (Tokyo Ethical Gin) Signature ethical gin brand of The Ethical Spirits. Distills underutilized and upcycled ingredients into premium Tokyo-style gin for sustainability-conscious consumers and craft spirits enthusiasts.
• REVIVE

Quantifiable outcome

• 314 tons annual sake lees distillation capacity by 2030
• +1 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered core, secondary and minor.

• Dassai Co., Ltd.coreStrategic or Co-development Partner · 24 March 2026Provides over-spec sake spirits as upcycled ingredient for LAST EN -En- gin. Dassai is a renowned sake brewery contributing to the unique flavor profile of Ethical Spirits' products through their surplus production.
• Dole Co., Ltd.coreStrategic or Co-development Partner · 24 March 2026Provides fruit ingredients as upcycled material for gin production, contributing to the diverse botanical composition of Ethical Spirits' products.
• Japan Airlines Co., Ltd.coreStrategic or Co-development Partner · 24 March 2026Provides coffee grounds from JAL lounges as upcycled ingredient, enabling the circular economy approach and adding unique coffee botanical notes to gin products.
• IBUKII (bottled tea brand)secondaryStrategic or Co-development Partner · 4 March 2026Provides used tea leaves from bottled tea products as upcycled ingredient for gin production.
• Astra Food PlansecondaryStrategic or Co-development Partner · 4 March 2026Provides regenerated hops as upcycled ingredient for gin production, contributing botanical complexity.
• Forestry and Forest Products Research InstitutecoreStrategic or Co-development Partner · 1 January 2024Licensed technology for enzymatic saccharification and fermentation of wood fibers to produce 'wood alcohol' - the world's first commercial application of this technology for spirits production. The Tsukubane Greenhill Distillery will manufacture WoodSpirits products using this technology.
• Yard Works Inc.minorStrategic or Co-development PartnerLandscape architecture collaboration for rooftop botanical garden at Tokyo Riverside Distillery, providing fresh herbs and botanicals for gin production.
• HERBSTANDminorStrategic or Co-development PartnerHerb selection collaboration for rooftop botanical garden, helping select appropriate herbs and botanicals for gin production and menu development.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Discarded Spirits: UK-based spirits brand explicitly built on upcycled ingredients (cascara, banana peel, cocoa husk) into rum, gin, and whisky. Most directly comparable peer: same upcycling thesis, similar craft-distillery scale, and sustainability-led brand narrative targeting premium ethical consumers.
• Kyoto Distillery (KI NO BI): Japan-based craft gin producer founded with a similar premium-positioning, Japanese botanical-led ethos, and direct-to-consumer + bar program distribution. Comparable as a Japanese craft gin specialist selling through e-commerce, distillery store, and on-site bar experiences.
• Four Pillars Gin: Australian craft gin distillery with a strong sustainability and provenance narrative, on-site distillery/bar/wellness experiences, and global DTC reach. Comparable on craft gin premiumization, experiential retail, and sustainability-driven brand storytelling.
• Monkey 47: German craft gin with strong provenance-led brand storytelling, premium pricing, and global boutique distribution. Comparable as a craft gin success story built on local botanicals and a distinctive narrative, demonstrating the premium craft gin playbook Ethical Spirits is following.
• CooperKing Distillery: UK sustainable craft distillery with on-site bar and tours, certified B Corp, and sustainability-led branding. Comparable as a small craft spirits operator whose sustainability narrative, on-site experiential revenue, and DTC distribution closely mirror Ethical Spirits' model.

Broad incumbents

• Roku Gin (Suntory): Premium Japanese craft gin launched by Suntory using Japanese botanicals. Comparable as the most prominent Japanese premium gin incumbent; also relevant because Suntory Holdings is a direct investor in The Ethical Spirits, creating both competitor and potential channel-partner dynamics.
• Nikka Whisky Distilling: Major Japanese spirits producer with broad domestic and international distribution, owned by Asahi Group. Comparable as a Japanese craft spirits incumbent that defines premium Japanese spirits globally; sets the bar for distribution scale and brand prestige Ethical Spirits aspires to.
• Hendrick's Gin: Unusual-botanical craft gin owned by William Grant & Sons, sold globally through established spirits distribution. Comparable on the 'unconventional botanicals' positioning and the playbook of using distinctive ingredient stories to justify premium pricing at scale.
• Suntory Holdings: Japan's largest spirits company and an investor in The Ethical Spirits (participated in 2022 and 2024 rounds). Comparable as the dominant Japanese spirits incumbent; also a strategic shareholder whose distribution, brand, and M&A activity directly affect Ethical Spirits' optionality.
• Diageo: Global premium spirits conglomerate with active sustainability and circular-economy initiatives across its portfolio. Comparable as a large incumbent pursuing upcycling and sustainable production themes, illustrating both the strategic validation of the trend and the long-term distribution/market-access threats to small players.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/herbstand
• Xx.com/ethical_spirits
• LinkedInlinkedin.com/company/the-ethical-spirits

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds4 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Ethical Spirits