Nissin Foods revenue falls 4.3% as costs surge

Nissin Foods Holdings reported Q1 revenue of 177,031m yen, down 4.3% year-on-year, with core operating profit from existing businesses falling 25.5% to 17,357m yen.

Overseas businesses saw revenue drop 14.1% to 60,649m yen, hit by weak Americas performance and yen appreciation. Domestic operations were mixed, with subsidiary MYOJO FOODS growing while NISSIN FOOD PRODUCTS profits declined due to increased material costs.

The company expects full-year revenue of 810,000m yen and core operating profit of 83,600m yen for existing businesses.