- Nissin Q1 sales, earnings rise
- "Gradual recovery" seen in Japan
- Warns on economic issues in China, Europe
Nissin Foods Group booked higher first-quarter sales and earnings today (7 August) but the Japanese food giant sounded a note of caution on the global outlook for the food sector.
Nissin said sales in the quarter to 30 June rose 6.6% to JPY104bn. Operating income rose 10.9% to JPY5.6bn and net earnings gained 34.7% to JPY5.4bn.
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Nissin said that its result was aided by the "gradual recovery" seen in the Japanese economy. The company said that it offset increased raw material costs through price increases that were accompanied by innovation and renovation.
Nissin is focused on driving global expansion in "emerging countries with high potential for growth". However, the company warned that the global outlook for the food sector remains challenging.
"There is an increased risk of a downturn in the overseas economy due to slackening growth of the Chinese economy and financial instability in Europe," the company noted.
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