ENVALITH
日清食品ホールディングス株式会社 logo

NISSIN FOODS HOLDINGS CO.,LTD.

2897・Prime Market・Foods

Official website
日清食品ホールディングス株式会社 logo
NISSIN FOODS HOLDINGS CO.,LTD.2897

Business

Nissin Foods Holdings is a holding company centered on Nissin Food Products, which developed the world's first instant packaged noodles, "Chicken Ramen," in 1958. Building on its domestic instant noodle business featuring powerful brands such as Cup Noodle, Donbei, and U.F.O., the company operates a comprehensive food group with a wide-ranging business portfolio spanning chilled, frozen, and beverage products (Low-Temperature & Beverage segment), confectionery (Koikeya, Nissin Cisco, Bonchi, etc.), and overseas operations across the Americas, China, Europe, and Asia. Consolidated revenue for FY2026 (ending March 2026) was ¥788,131 million. Under its group philosophy of "EARTH FOOD CREATOR," the company aims to realize its vision of becoming a "Branding Corporation."

Business Model

The domestic instant noodle business (Nissin Foods, Myojo Foods) generates cash at high margins, providing the capital for investment in the chilled foods, beverages, confectionery, and overseas businesses. The company raises unit prices through renewals and price revisions of its core brands while stimulating demand via new product launches. Overseas, it is building out local production and sales systems centered on the Americas and China to expand scale globally. It invested ¥12,302 million in R&D and continues to make advance investments in new businesses such as "Kanzen Meshi" (Complete Nutrition Meal).

Company Strengths

CUP NOODLES achieved domestic annual sales of ¥100.0 billion and cumulative worldwide sales exceeding 50 billion servings (as of 2021). The company holds multiple long-selling brands including Nissin Donbei, Nissin Yakisoba U.F.O., and Chicken Ramen, and the Nissin Foods segment alone recorded revenue of ¥241,940 million and core operating profit of ¥32,596 million. Brand assets that are difficult for competitors to replicate in a short period underpin the earnings base.

Of total revenue of ¥788,131 million, domestic instant noodles (Nissin Foods and Myojo Foods) account for approximately 37%, Chilled & Beverage & Confectionery for approximately 25%, and the Americas, China, and other overseas regions for approximately 38%. With the Americas Region at ¥163,713 million and China Region at ¥74,945 million, the high proportion of overseas business diversifies the risk of dependence on a single market. The Confectionery Business, including Koikeya and Nissin Cisco, also has a sales scale of ¥95,942 million.

R&D expenses for FY2026 (ending March 2026) totaled ¥12,302 million. Under the Kanzen Meshi brand, the company has established proprietary technology that balances 33 types of nutrients with great taste, and has expanded the category lineup to include cup noodles, frozen foods, bread, and gelato. The food safety audit standard NISFOS has been certified by IRCA as equivalent to or exceeding ISO 22000. The company also continues advanced research into cultured meat, alternative proteins, and yeast-derived oils and fats.

ENVALITH's Perspective

In FY2026 (ending March 2026), revenue increased 1.5% year on year to ¥788,131 million, achieving five consecutive years of revenue growth. However, operating profit fell sharply by 16.2% year on year to ¥62,330 million, and profit attributable to owners of parent dropped 17.5% year on year to ¥45,380 million, marking a significant decline in profit. Core operating profit from existing businesses also fell 15.5% year on year to ¥70,602 million. Rising raw material prices and logistics costs have spread across all segments, and it is clear that the effect of revenue growth is insufficient to absorb these cost increases. The operating profit margin on revenue declined from 9.6% in the previous period to 7.9%, making the path to margin recovery the biggest focal point going forward.

Segment profit in the Americas Region deteriorated sharply, falling 33.8% year on year to ¥10,568 million, becoming a factor pulling down profit for the group as a whole. In the United States, a decline in sales volume and increased promotional expenses in the first half weighed on results, and although a recovery in premium products was seen from the fourth quarter onward, full-year profit still declined. Even excluding the impact of foreign exchange fluctuations, revenue fell 3.2% year on year, representing a substantial decline, making improvement of the profit structure in the U.S. business an urgent priority. Capital expenditure continued at an aggressive pace of ¥32,727 million, and the outlook for investment returns will continue to be closely watched from the perspective of financial discipline.

The consolidated earnings forecast for FY2027 (ending March 2027) was disclosed as a range, with revenue of ¥860,000 million (up 9.1% year on year) and operating profit of ¥66,000 million to ¥69,500 million (up 5.9% to 11.5% year on year). The company has clearly stated its policy of continuing aggressive investment in new businesses within a range of 5% to 10% of core operating profit from existing businesses, meaning the potential for upside in profit depends on the scale of losses from new businesses. The impact of the situation in the Middle East has not been factored into the earnings forecast, leaving uncertainty regarding the external environment. The annual dividend will be maintained at ¥70, with a dividend payout ratio of 41.9% to 44.2%, indicating continued shareholder returns, but attention should be paid to the continued decline in EPS (¥157.33).

Growth Strategy

The company aims to achieve revenue of ¥1 trillion by 2030 through strengthening the earnings base of existing businesses, expanding overseas, and promoting new businesses.

The company aims to absorb rising raw material and logistics costs through price revisions and improved product mix, thereby recovering core operating profit in existing businesses. For FY2027 (ending March 2027), it targets existing business core operating profit of ¥73,500 million (up 4.1% year on year), securing funding for new business investment.

The company continues to recover premium product sales volume in the U.S. and raise average unit prices through price revision penetration, while increasing sales volume of "CUP NOODLES" in Brazil. It aims to improve segment profit margin as the effects of capital expenditure of ¥32,727 million materialize.

The company maintains a trend of increasing revenue and profit through expansion of sales channels to inland areas of mainland China, growth in sales of the "Homeidao" brand group and the packet noodle "Demae Iccho", capturing inbound demand in Hong Kong, and utilizing the Korean confectionery business subsidiary. In FY2026 (ended March 2026), segment profit improved substantially, up 51.7% year on year to ¥8,958 million.

Based on the Mid- to Long-Term Growth Strategy 2030, losses related to new businesses are managed separately from the existing business core operating profit. The policy of continuing active new business investment within the range of 5–10% of existing business core operating profit is also clearly stated in the FY2027 (ending March 2027) forecast. Although the scale is still small, these businesses are being cultivated as seeds for mid- to long-term growth.

Expenditure on acquisition of property, plant and equipment in FY2026 (ended March 2026) increased significantly to ¥83,337 million from ¥70,679 million in the previous fiscal year. The company is advancing the expansion of the Kansai plant and the strengthening of production infrastructure in the Americas. Total assets expanded to ¥981,195 million (up ¥132,734 million year on year), as the company builds out its production base toward the goal of ¥1 trillion in revenue by 2030.

Last updated: July 19, 2026