JAPAN: Nissin 9M sales, earnings jump
Nissin sales, earnings jump
Japanese noodle maker Nissin Foods Holdings has booked an increase in sales and profits during the first nine months of its financial year.
In a filing today (31 January), Nissin said net sales rose by 9.1% to JPY311.72bn (US$3.03bn) in the period to the end of the third quarter. Operating income was up 13.6% to JPY21.74bn. Net income totalled JPY18.6bn, up 30.4%.
The company said that gains were driven by higher consumer spending in Japan - where the economic situation saw marked improvement in the period - and higher exports. Nissin said that to has focused on product development to "raise brand value further".
Nissin warned on higher input costs due to the depreciation of the Japanese yen, but emphasised that it has been able to strip costs from the business.
Click here to view the release from Nissin.
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