Nissin Foods has unveiled details of a three-year growth plan, that will include an increase in capital spending on its domestic and overseas markets.
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The instant noodle maker believes it can increase its full-year operating profit by 34% on its 2010 targets by 2013.
Nissin believes investing in new ramen noodle products and a boost in marketing will see operating profit reach JPY35.5bn (US$386m).
The company has also lined up JPY75.7m worth of investment to modernise factories in the three years from April, an increase of 60% on the amount spent in the previous three years.
The company is placing much of its hopes for expansion on its overseas markets, with the US and China expected to lead the charge.
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By GlobalDataNissin reaffirmed it may also look to acquire businesses, although its sales and profit targets did not include any need to reach for the chequebook.
Earlier this year, Nissin, Japan’s largest noodle maker, entered the Russian market through the acquisition of a 33.5% stake in Angleside, the holding company of Russia’s largest instant noodle maker Mareven Food Central.
