Suntory price reflects sudden downturn in Japanese stock market TOKYO, June 24 (UPI) -- An initial public offering in Japan for Suntory Beverage and Food has been given a starting price near the bottom its anticipated range, a filing says. Suntory said in mid-June it would price its debut at $30.77 to $39. The New York Times reported Monday the price had been set at $31.80 in a filing with the Tokyo Stock Exchange. The price reflects a sudden sobering of investor sentiment in Japan, where the Nikkei 225 index has dropped 16 percent since mid-May. The Suntory IPO is still expected to be the largest in Japan for the year and the second largest for the year anywhere. The company has plans to sell about 125 million shares and raise $3.96 billion. Parent company Suntory Holding will issue 93 million shares and sell 26 million of its own shares. It also has 6.2 million shares in reserve, which will be released if the demand is strong at the July 3 debut. Suntory is expecting the IPO will help it finance overseas expansion. In 2003, the privately held whiskey maker was featured in the 2003 movie "Lost in Translation," starring Bill Murray and Scarlett Johansson, which gave it international recognition. In 2009, the company bought Orangina Schweppes for $3.4 billion. It later purchased Funcor Group, a beverage company in New Zealand, the Times said.