Nissin Reports Mixed Results; Domestic Sales Firm While Emerging-Market Growth Disappoints
Narrow-moat Nissin Foods reported a mixed set of first-quarter results, although sales and operating profits were largely in line with our expectations. The moaty domestic instant noodle business demonstrated resilience in sales. On the other hand, weakness in Brazil and China, two overseas markets that Nissin expects to deliver double-digit sales growth, was a negative surprise. We have made no change in our forecasts and estimates but will watch developments in Brazil and China closely.Adjust...
Nissin Foods Holdings is a holding company. Through its affiliates, Co. is mainly engaged in the manufacture and sale of instant noodles and other food products in Japan and overseas. Co. manufactures cup and bag-type instant noodles under the names of "Chicken Ramen," "Cup Noodle," "Nissin-no-Donbei," "Demae Iccho," "Myojo Charumera, " "Myojo Ippeichan," and others. Co. also manufactures chilled and frozen food products including ramen noodles, yakisoba noodles, pasta, snacks, and cooked rice. In addition, Co., through its affiliates, is engaged in the manufacture and sale of confectionery and dairy products, the real estate business, and the operation of restaurants and golf courses.
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