Nissin Looks Overseas for Growth
Narrow-moat Nissin’s third-quarter core profits (gross profits less SG&A) trended slightly ahead our expectation, with sales up 2.4% (like for like 3.7%) and profits down 7.3% (LFL 6.4%). The announcement of 4%-8% price hikes on domestic Nissin instant noodles was a positive surprise as management denied the possibility at the first-half result briefing. We expect price hikes on the moaty Nissin brand will take about a year to kick in and have lifted our profit forecasts by 4-5% from fiscal ...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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