Financial Results for FY 3/2023 1Q
Announced on August 4, 2022
NISSIN FOODS HOLDINGS CO., LTD.
(TSE Stock Code: 2897)
Financial Results Presentation: August 4, 2022
FY 3/2023 1Q Financial Results Highlights
- Revenue: All three business segments increased. Overall revenue achieved double-digit growth on a consolidated basis driven by Overseas Business
- Core Operating Profit of Existing Businesses: Cost increases were offset by increased revenue and improved production efficiency, etc. resulting in increased profit
- New Businesses: Launched sales of KANZEN MEAL (5 types, from May 30th), reaching 1 million servings in 1 month
1Q Results | FY 3/2023 Forecasts | |||||
YoY | YoY | |||||
Revenue | 149.3 | Bil. yen | + 12.7% | 595.0 | Bil. yen | + 4.4% |
Core Operating Profit of Existing Businesses | 13.4 | Bil. yen | + 1.3% | 52.0 | Bil. yen | + 4.9% |
Domestic Instant Noodles Business | 8.6 | Bil. yen | + 7.2% | 34.0 | Bil. yen | + 2.9% |
Domestic Non-Instant Noodles Business | 1.8 | Bil. yen | (19.6%) | 7.1 | Bil. yen | + 9.7% |
Overseas Business | 4.1 | Bil. yen | + 7.1% | 16.0 | Bil. yen | + 17.2% |
1
Consolidated Financial Summary
Overseas Business led the overall revenue increase by 12.7% due to price revisions and foreign exchange effects. Core operating profit of existing businesses increased due to price revisions etc., which absorbed increased material and other costs
Bil. yen
Revenue
Core operating profit
of existing businesses
Operating profit
Profit attributable to owners of the parent
Core OP margin of existing businesses
OP margin
Profit attributable to owners of the parent margin
Institutional accounting basis | Constant currency basis | |||||||
FY 3/2023 | YoY change | FY 3/2023 | YoY change | |||||
1Q | Amount | Ratio | 1Q | Amount | Ratio | |||
149.3 | + 16.8 | + 12.7% | 141.1 | + 8.6 | + 6.5% | |||
13.4 | + 0.2 | + 1.3% | 12.9 | (0.4) | (2.7%) | |||
13.3 | + 0.0 | + 0.1% | 12.7 | (0.6) | (4.4%) | |||
7.5 | (0.4) | (4.6%) | 7.2 | (0.7) | (9.4%) | |||
9.0% | (1.0pt) | 9.1% | (0.9pt) | |||||
8.9% | (1.1pt) | 9.0% | (1.0pt) | |||||
5.0% | (0.9pt) | 5.1% | (0.9pt) |
2
Financial Summary by Segment
Revenues increased significantly in Overseas Business. Domestic Business also posted higher revenues on the back of strong demand. Profit of Domestic Instant Noodles Business and Overseas Business increased, while Domestic Non-Instant Noodles Business decreased profit due to higher costs
Domestic Instant Noodles Business
Revenue increased due to product mix improvement etc. at NISSIN FOOD PRODUCTS Profit increased by offsetting cost increase from revenue growth, etc.
Domestic Non-Instant Noodles Business
Revenue increased due to strong Confectionery Business, but profit decreased due to soaring material costs
Overseas Business
Revenue increased by double digits in all regions (The Americas: +48%). Profit increased by absorbing cost increase
(Bil. yen)
Revenue | Core OP | ||
+1.9% | +7.2% | ||
56.0 | 57.0 | 8.0 | 8.6 |
FY 3/2022 1Q | FY 3/2023 1Q | FY 3/2022 1Q | FY 3/2023 1Q |
Revenue | |
+1.7% | |
37.3 | 37.9 |
FY 3/2022 1Q | FY 3/2023 1Q |
Core OP
(19.6%) | |
2.2 | 1.8 |
FY 3/2022 1Q | FY 3/2023 1Q |
Revenue | |
+38.5% | |
38.7 | 53.6 |
FY 3/2022 1Q | FY 3/2023 1Q |
Core OP
+7.1% | |
3.8 | 4.1 |
FY 3/2022 1Q | FY 3/2023 1Q |
3 |
Revenue Results by Segment
Almost all segments posted revenue increase in response to strong demand, mainly led by the Overseas Business, which recorded double-digit growth from FY 3/2022 1Q
Institutional accounting basis | |||
Bil. yen | |||
FY 3/2023 | YoY change | ||
1Q | Amount | Ratio | |
NISSIN FOOD PRODUCTS | 47.8 | + 1.2 | + 2.6% |
MYOJO FOODS | 9.3 | (0.2) | (1.6%) |
Domestic Instant Noodles Business | 57.0 | + 1.1 | + 1.9% |
Chilled / frozen foods and beverages | 20.4 | + 0.1 | + 0.7% |
Confectionery | 17.6 | + 0.5 | + 2.9% |
Domestic Non-Instant Noodles Business | 37.9 | + 0.6 | + 1.7% |
Domestic Others | 0.7 | + 0.2 | + 40.8% |
Domestic Business total | 95.7 | + 1.9 | + 2.0% |
The Americas | 29.9 | + 9.7 | + 47.9% |
China (incl. H.K.) | 15.5 | + 3.2 | + 26.5% |
Asia | 4.8 | + 1.4 | + 41.0% |
EMEA | 3.4 | + 0.6 | + 20.8% |
Overseas Business total | 53.6 | + 14.9 | + 38.5% |
Consolidated | 149.3 | + 16.8 | + 12.7% |
Constant currency basis | |||
FY 3/2023 | YoY change | ||
1Q | Amount | Ratio | |
47.8 | + 1.2 | + 2.6% | |
9.3 | (0.2) | (1.6%) | |
57.0 | + 1.1 | + 1.9% | |
20.4 | + 0.1 | + 0.7% | |
17.6 | + 0.5 | + 2.9% | |
37.9 | + 0.6 | + 1.7% | |
0.7 | + 0.2 | + 40.8% | |
95.7 | + 1.9 | + 2.0% | |
24.6 | + 4.3 | + 21.5% | |
13.3 | + 1.1 | + 9.0% | |
4.2 | + 0.8 | + 25.0% | |
3.3 | + 0.4 | + 15.4% | |
45.4 | + 6.7 | + 17.4% | |
141.1 | + 8.6 | + 6.5% | 4 |
- Results in China (Incl. H.K.) are based on the consolidation policy of NISSIN FOODS HOLDINGS. Disclosure may differ from that of NISSIN FOODS CO., LTD. (Located in H.K.)
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Nissin Foods Holdings Co. Ltd. published this content on 04 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2022 05:06:04 UTC.