Nissin Looks Overseas for Growth
Narrow-moat Nissin Foods' second-quarter sales and core business profits (gross profits – SG&A) trended largely in line with our expectations, with sales up 1.8% and core profits down 6.5% year on year. Despite a tough comparison hurdle, the moaty domestic instant noodle business managed to maintain margins amid cost inflation while rising costs in the U.S. and Brazil along with adverse movement of the Brazilian real depressed profits. We expect profits to rebound in the second half when pri...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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