Nissin Foods : Financial Results for FY 3/2023 1Q

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.)