Nissin Foods Holdings has reported an increase in profits and sales for the first nine months of its financial year, following product launches, as well as higher sales in the Americas and China.
Net income for the period to the end of December rose 21% to JPY23bn (US$196.4m). Operating income increased 10.4% to JPY22.3bn.
Net sales grew 7.3% to JPY347.5bn.
Nissin’s sales by division
- Nissin food products: +2.9% to JPY167.6bn. Sales boosted by demand for instant cup-style noodles.
- Myojo Foods noodles subsidiary: +8% to JPY31.4bn. Again, bagged and cup-style noodles grew “favourably”. Sales assisted by improved production thanks to a new factory coming online.
- Chilled and frozen: +5.1% to JPY45.1bn. Sales mainly led by pasta and ramen products.
- The Americas: +27.7% to JPY33bn. Nissin says it worked to “become less susceptible to the effects of price competition”. In the US it is working to introduce products that meet market demand. Sales in Mexico recovered after lapping a year earlier when volumes were hit by the country’s tax on certain foods. Nissin Foods do Brasil, which has become a consolidated subsidiary from the third quarter, contributed to the sales increase.
- China: +17.8% to JPY30.2bn. Sales helped by new product introductions including Big Cup Noodles and Made-in-Hong Kong Demae Iccho.