Nissin Foods Holdings Co., Ltd. · TSE:2897
Nissin Foods — FY2025 Earnings Presentation
70 slides from Nissin Foods's earnings presentation, May 8, 2025
Slide 1: Financial Results for FY 3/2025
Financial Results for FY 3/2025 May 8, 2025 NISSIN FOODS HOLDINGS CO., LTD. (TSE Stock Code: 2897) Financial Results Presentation: May 12, 2025
Slide 2: Agenda
I. FY 3/2025 Financial Results and FY 3/2026 Plan …………………………… P2~ Takashi Yano, Executive Officer and CFO II. Progress of Mid-to Long-Term Growth Strategy …………………………… P19~ Koki Ando, Representative Director, President and CEO Noritaka Ando, Executive Vice President & Representative Director, COO and
Slide 3: Today’s Points
Today’s Points Point 1: FY 3/2025 Financial Results • Revenue: 776.6 billion yen (+6% YoY) Core operating profit of existing businesses: 83.5 billion yen (+4% YoY). Record-high • Domestic Business: Revenue and profit increased in all segments due to effective marketing activities etc. despite upward
Slide 4: FY 3/2025 Financial Results
FY 3/2025 Financial Results 3
Slide 5: FY 3/2025 Consolidated Financial Summary
FY 3/2025 Consolidated Financial Summary Institutional accounting basis Constant currency basis Bil. yen YoY change YoY change FY 3/2025 FY 3/2025 Amount Ratio Amount Ratio Revenue 776.6 + 43.7 + 6.0% 771.2 + 38.3 + 5.2% Core operating profit 83.5 + 2.9 + 3.6% 82.0 + 1.4 + 1.8% of existing businesse
Slide 6: Analysis of Core OP of Existing Businesses
Analysis of Core OP of Existing Businesses Domestic (1.7), Overseas (2.7) Domestic and overseas: +) Price revision, increase in volume, etc. Domestic: -) Increase in promotional cost etc. (Bil. Yen) Overseas: -) Increase in general and administrative expenses and depreciation etc. YoY +17.8 +2.9 Ove
Slide 7: Analysis of Core OP of Existing Businesses (Quarterly basis)
Analysis of Core OP of Existing Businesses (Quarterly basis) (Bil. Yen) Q1 Q3 YoY Domestic (2.0) YoY +1.8 (2.3) + 6.8 Overseas (1.8) +1.1 +0.2 +0.1 +0.1 (9%) (2.5) + 1.1 +5% (4.0) (0.4) (3.7) (0.2) (0.3) Domestic (0.0) Domestic +0.6 Overseas +1.8 Overseas (0.4) Domestic +4.8 Overseas +2.0 Mareven (0
Slide 8: Financial Summary by Segment
Financial Summary by Segment • Consolidated revenue increased by 6% YoY, with growth in all businesses. • Domestic business achieved higher profit despite increased costs. Overseas business saw a decline in profit, mainly due to the Americas business. Domestic Domestic Instant Noodles Business Non-I
Slide 9: Revenue Results by Segment
Revenue Results by Segment ・Revenue increased in all businesses, performed well. Institutional accounting basis Constant currency basis Bil. yen YoY change YoY change FY 3/2025 FY 3/2025 Amount Ratio Amount Ratio NISSIN FOOD PRODUCTS 238.8 + 6.6 + 2.8% 238.8 + 6.6 + 2.8% MYOJO FOODS 45.4 + 1.9 + 4.4
Slide 10: Core OP Results by Segment
Core OP Results by Segment • Domestic business increased profit, overseas business increased profit except for the Americas and EMEA region. FY 3/2025 Institutional accounting basis FY 3/2025 Constant currency basis Bil. yen Other Income YoY change YoY change OP and Expenses Core OP Core OP Amount R
Slide 11: FY 3/2026 Plan
FY 3/2026 Plan 10
Slide 12: FY 3/2026 Full-Year Earnings Plan
FY 3/2026 Full-Year Earnings Plan • We aim for revenue growth of 4.3% YoY and core operating profit of existing businesses is projected to increase by 0.1% YoY to 83.6 billion yen. YoY Revenue 810.0 Bil. yen ＋4.3% Core Operating Profit of Existing Businesses 83.6 Bil. yen ＋0.1% Invest in new busin
Slide 13: Impact of U.S. Tariffs in FY 3/2026
Impact of U.S. Tariffs in FY 3/2026 • The U.S. business imports only a small amount of finished products, and the impact is limited to a portion of material costs. • The FY 3/2026 Plan includes a 20% impact of additional tariffs from the IEEPA (announced on March 3) on China. • The 10% baseline tari
Slide 14: Impact of Management Accounting Changes to be Implemented in FY 3/2026
Impact of Management Accounting Changes to be Implemented in FY 3/2026 • In response to changes in the Group's business structure, including the growth of overseas business, the allocation for HD expenses and overseas royalty rates will be changed in FY 3/2026. We reclassified FY 3/2025 results afte
Slide 15: FY 3/2026 Plan by Business Segment
FY 3/2026 Plan by Business Segment *After changing the allocation method Revenue (IFRS) Core Operating Profit (Non-GAAP) Bil. Yen FY 3/2026 FY 3/2025 Results FY 3/2026 FY 3/2025 Results Plan Revenue YoY change Plan Core OP YoY change exchange rate assumption USD145.00 yen USD152.58円 Amount Ratio USD
Slide 16: EBITDA and Cash Flow
EBITDA and Cash Flow • As the business expands, our cash generation capacity has doubled, and EBITDA consistently exceeds 100 billion yen. • Operating cash flow for FY 3/2025 decreased mainly due to a temporary reduction in trade payables. EBITDA Cash Flow 130.0 (Bil. Yen) 40.0% 94.1 (Bil. Yen) 110.
Slide 17: ROE Growth and Shareholder Returns
ROE Growth and Shareholder Returns • Maximize corporate value and improve ROE through a combination of strategic growth investments and capital control. • Use leverage effectively to continue share buybacks balanced with growth investments. Shareholder Returns (Bil. Yen) ROE Total Return 15.0% Ratio
Slide 18: Capital Investment Plan
Capital Investment Plan • FY 3/2026 will be a peak investment period for the foreseeable future. • We plan to increase capital investment in the Domestic Instant Noodles Business and Non-Instant Noodles Business, in addition to our Overseas Business. Cumulative total for FY 3/2025 120.0 and FY 3/202
Slide 19: Capital Allocation
Capital Allocation • With more options for the strategic use of cash, we intend to prioritize organic growth investments for further growth, and will allocate shareholder returns more flexibly than before (FY 3/2025 total return ratio exceeded 100%.) • Diversified fund procurement methods by acquiri
Slide 20: Progress in Mid- to Long-Term Growth Strategy
Progress in Mid- to Long-Term Growth Strategy 19
Slide 21: Four-Year Review Post-Launch for Existing Businesses and Strategy Through 2030
Four-Year Review Post-Launch for Existing Businesses and Strategy Through 2030 Four-Year Review (1) The Group as a whole achieved mid-single digit growth despite an increase in raw material and other costs in a rapidly changing external environment. (2) While core operating profit in the Americas gr
Slide 22: Revenue By Business Portfolio
Revenue By Business Portfolio • Achieved revenue growth in all segments in FY 3/2025 • Aim for record-high consolidated Group revenue in FY 3/2026 with mid-single to double-digit growth in all segments. EMEA China (incl. H.K.) The Americas （Bil. yen） (+8%) +5% +1% Asia EMEA Domestic (+12%) Instant N
Slide 23: Core Operating Profit by Business Portfolio
Core Operating Profit by Business Portfolio • Profit decreased in the Americas and EMEA, but achieved growth in other segments and increased profit on a group-wide consolidated basis in FY 3/2025. • Aim to increase profit for the fourth consecutive year on a consolidated basis in FY 3/2026 through s
Slide 24: Core Operating Profit by Business Segment
Core Operating Profit by Business Segment • Core operating profit has grown roughly three-times over the past decade; the composition ratio of the Overseas Business has risen to approximately 45%. • We aim for sustainable growth through expanded Overseas Business performance based on our Domestic In
Slide 25: Global Business Development
Global Business Development 24
Slide 26: External Environment of the Global Business
External Environment of the Global Business • Global management has become more complex due to recent instability in the international situation and the rise of protectionism. • The idea of local production for local consumption could become the de facto approach, considering the impact of geopoliti
Slide 27: Core Operating Profit by Overseas Business Segment Region
Core Operating Profit by Overseas Business Segment Region • We have seen roughly 16-fold growth over the past decade. Traditionally, China and Brazil have driven growth; however, we have built—and will continue to maintain—a well-balanced portfolio through investments in each region. Overseas Busine
Slide 28: [The Americas] U.S. - Sales Growth Through Innovative New Products and Expanded Sales Channels
[The Americas] U.S. - Sales Growth Through Innovative New Products and Expanded Sales Channels • (1) 1 While the number of major retail chains in the west have decreased; (2) 2 we expanded nationwide, including expansion in south central and southeastern regions. In addition, (3) 3 we expanded sales
Slide 29: [The Americas] Brazil - Accelerating Growth With a New Plant and Multiple Categories
[The Americas] Brazil - Accelerating Growth With a New Plant and Multiple Categories • Increased production and saw double-digit growth in FY 3/2025 through stabilized and streamlined production lines. Accelerating growth in the medium- to long-term by responding to increased demand with a new plant
Slide 30: [China] CUP NOODLES, Premium bag type Instant Noodles and Area Expansion
[China] CUP NOODLES , Premium bag type Instant Noodles and Area Expansion for Sustainable Growth • Stable business expansion through sales expansion of cup-type and premium bag-type instant noodles in China and Hong Kong and business portfolio expansion through M&A in neighboring regions. China Sale
Slide 31: [Asia] Geki - From Local to Global
[Asia] Geki - From Local to Global • Hot and spicy flavored instant noodles expanded from Thailand to seven countries; the number of servings has grown approximately ten-times over the past seven years. • Intend to delve deeper into our overseas products strategy by rolling out local brands on a glo
Slide 32: [EMEA] Europe - Accelerating Sales Further With New Production Line
[EMEA] Europe - Accelerating Sales Further With New Production Line • The growth of NISSIN FOODS Europe accelerated with the launch of the Authentic Asia concept in FY3/2020. • Amid strong demand, sales grow at a faster pace across more than 36 countries in Europe, supported by bag- and cup-type ins
Slide 33: [Japan] Instant Noodles Business, Non-Instant Noodles Business
[Japan] Instant Noodles Business, Non-Instant Noodles Business • Enhance the value of existing brands further and strengthen our product portfolio in the Instant Noodles Business. • In the Non-Instant Noodles Business, we also plan to grow the scale of our business, while being profitable, through h
Slide 34: Environmental Strategy: EARTH FOOD CHALLENGE 2030
Environmental Strategy: EARTH FOOD CHALLENGE 2030 Our Challenge to Utilize Finite Resources Effectively Source Sustainably Conserve Natural Create a World without Earth Resources Waste Material Domestic results are covered Sustainable palm oil Overall water use Recycling rate in production process C
Slide 35: Progress on Scope 1+2 and Scope 3
Progress on Scope 1+2 and Scope 3 • We reduced CO₂ emissions steadily in Scope 1+2 mainly through renewable energy use. Our increased use of RSPO-certified palm oil contributed to further reductions in Scope 3. Emissions across all scopes are now below the 2020 baseline and continue to decline stead
Slide 36: Initiatives and Progress in Strengthening Human Capital
Initiatives and Progress in Strengthening Human Capital • Implemented various measures to strengthen human capital under five key strategic themes Instilling Mission, Vision, and Values Recruiting and Onboarding Diverse Talent Supporting Autonomous Career Development • Messages from top management,
Slide 37: Initiatives and Progress in Strengthening Human Capital
Initiatives and Progress in Strengthening Human Capital Progress on Women’s Empowerment Initiatives : FY 3/2021 - FY 3/2025 Health Management The Group issued the NISSIN FOODS Group Declaration of Health and • Percentage of female managers: 5.2% → 9.0% Productivity Management in August 2018. (NISSIN
Slide 38: NISSIN FOOD PRODUCTS and New Businesses
NISSIN FOOD PRODUCTS and New Businesses 37
Slide 39: NISSIN FOOD PRODUCTS Past Initiatives
NISSIN FOOD PRODUCTS Past Initiatives • We have seen continued growth in sales and volume by making core brands stronger amid inflation and down-trading Japanese Market Environment NISSIN FOOD PRODUCTS Price increases exceeded nominal wage increases, FY 3/2025 total revenue increased by 3% YoY; volu
Slide 40: NISSIN FOOD PRODUCTS FY 3/2026 Initiatives
NISSIN FOOD PRODUCTS FY 3/2026 Initiatives • Strengthen portfolio around core products to deliver the NISSIN brand to all consumers Strengthening the NISSIN FOOD PRODUCTS Portfolio Health-Conscious Core Cup-Type Rice High protein, low Revenue and strategy pillars Increased demand carb, plenty of fib
Slide 41: Fundamental Research for Optimized Nutri-Dense Meals
Fundamental Research for Optimized Nutri-Dense Meals 40
Slide 42: Replace 40 of 84 meals with Optimized Nutri-Dense Meals for 4 weeks
Improvement of Vital Data Replace 40 of 84 meals with Optimized Nutri-Dense Meals for 4 weeks % of people who % of people who % of people who lost weight *1 lowered BMI *2 lowered blood pressure *3 % of people who % of people who % of people who reduced visceral fat area *4 improved performance at w
Slide 43: Development of Optimized Nutri-Dense Meals for diabetes and hypertension patients
Fundamental Research on Optimized Nutri-Dense Meals (1) Development of Optimized Nutri-Dense Meals for diabetes and hypertension patients (Improvement of quality of life in dietary restrictions) In the model for the sick, we saw blood glucose and blood pressure reductions in clinical trials with O
Slide 44: New clinical trial results with seniors
Fundamental Research on Optimized Nutri-Dense Meals (2) New clinical trial results with seniors Optimized Nutri-Dense Meals for seniors: Fortified with protein, n-3 fatty acids, etc. Improvements observed in gait speed, cognitive function, and sense of well-being Nutrients, Volume 15, 2023, 4317 Cli
Slide 45: New clinical trial findings related to women’s health
Fundamental Research on Optimized Nutri-Dense Meals (3) New clinical trial findings related to women’s health Optimized Nutri-Dense Meals for women: fortified with folic acid and other nutrients Reduced discomfort before and during menstruation Presented at the 2025 Annual Meeting of the Japanese So
Slide 46: Anti-aging effects confirmed for Optimized Nutri-Dense Meals
Fundamental Research on Optimized Nutri-Dense Meals (4) Found that Optimized Nutri- Anti-aging effects confirmed for Dense Meals may increase healthy life expectancy Optimized Nutri-Dense Meals Clinical trial conducted through a joint research program at Keio University shows eating Optimized Nutri-
Slide 47: Status of KANZEN MESHI
Status of 「KANZEN MESHI」 46
Slide 48: FY3/2026 Becoming a 10 billion yen brand
FY3/2026 Becoming a 10 billion yen brand 10 billion yen 7 billion yen 5 billion yen 3 billion yen FY3/2023 FY3/2024 FY3/2025 FY3/2026 *Based on the retail store price Brand recognition rate of over 50% 47
Slide 49: Award Recognition Driving Brand Momentum
Award Recognition Driving Brand Momentum 2022-2024 March 2025 Health and Wellness Category Frozen KANZEN MESHI: Shokuhin Sangyo DAN DAN NOODLES Shimbunsha Co., Ltd. Food Industry Technology Merit Award JAPAN Drugstore Show Grand Prix Winner Nikkei Inc. Japan Naming Award Ranked No. 1 in Meal Replace
Slide 50: New TV Commercials for Spring 2025
New TV Commercials for Spring 2025 Football Hour Takafumi Horie Image removed Image removed Commercials that talk about KANZEN MESHI from their point of view and make you feel like “giving it a try” 49
Slide 51: New Products & Renewed Products for Spring 2025
N New Products & Renewed Products for Spring 2025 KANZEN MESHI KANZEN MESHI KANZEN MESHI CUP NOODLES KANZEN MESHI CURRY MESHI KANZEN MESHI KANZEN MESHI U.F.O. STREET‐STYLE TOM YUM RICE EUROPEAN-STYLE Anpan Matcha Anpan WITHOUT SOUP STIR-FRIED NOODLES CURRY 132%* New release on New release on Compare
Slide 52: Online Store Limited Frozen KANZEN MESHI DELI
Online Store Limited Frozen KANZEN MESHI DELI Subscription business exclusive to the online store PizzaBowl Pork Cutlet Rice Okonomiyaki Pizza 28 menu items available (as of April 2025) FY2024 YoY : 438% vs Plan : 124% Beef Rice Bowl Omelette Rice Mapo Tofu Rice Bowl Nutritionally Balanced, New-Gene
Slide 53: Collaboration With Retailers in the Deli Businesses
C Collaboration With Retailers in the Ｄｅｌｉ Businesses Bolognese Pasta Curry Rice Omelette Rice Bibimbap 52
Slide 54: B to B Business
B to B Business Employee Cafeterias Business Restaurant, Catering Business An increasing number of companies are introducing KANZEN MESHI in company cafeterias as part of the company health management. Family restaurant Vending machine meal services Collaboration in progress Delivery Pizza Chain As
Slide 55: Developing the variety of business models!
Developing the variety of business models！ 1 Packaged Foods Retail Sales Lunch Boxes, Prepared Foods, Base Ingredients Instant Instant Soup Retort Frozen Food Bread Snack Noodles cup-rice 2 Employee Cafeterias ３ Healthcare Cooperation Health management promotion ・ Lifestyle modification using the ap
Slide 56: Forecast for each domestic business to turn profitable
Forecast for each domestic business to turn profitable Turning profitable in domestic New Business Fiscal year 2024 2025 2026 2027 2028 2029 2030 Net Sales 7 bil. yen 10 bil. yen 42 bil. yen on the retail store price B to C FY 3/2029 Grocery Turning Profitable B to C FY 3/2028 Frozen Turning Profita
Slide 57: KANZEN MEAL USA Test Launch to Support Overseas Business
KANZEN MEAL USA Test Launch to Support Overseas Business Product development underway for frozen meals, instant noodles, and instant rice targeting in the U.S. and European markets to expand the Overseas Business Test launch of frozen meal in the U.S. to begin in June 2025, with plans to expand grad
Slide 58: Status of Our Businesses
Status of Our Businesses 57
Slide 59: Domestic Instant Noodles Business
Domestic Instant Noodles Business • Revenue and profit increased due to sales growth driven by core brands despite increased raw material costs etc. Revenue (Bil. Yen) FY 3/2024 FY 3/2025 NISSIN FOOD PRODUCTS (FY 3/2025 +3%) 350 Cup type : Sales of mainstay products such as CUP NOODLE, NISSIN NO DON
Slide 60: Domestic Non-Instant Noodles Business
Domestic Non-Instant Noodles Business • YORK saw its strong performance of PILKUL series. Cereal products of CISCO and High-value-added products of KOIKE-YA also performed well. All contributed to the growth. Overall business profit increased despite increase of raw material costs etc. Revenue (Bil.
Slide 61: The Americas
The Americas • Revenue increased in the segment as a whole. The decline in sales volume in the U.S. was offset by the steady production recovery in Brazil. Profit decreased due to increased costs in the U.S. Revenue (Bil. Yen) FY 3/2024 FY 3/2025 U.S. FY 3/2025 : Increased partly due to forex impact
Slide 62: China (incl. H.K.)
China (incl. H.K.) • Revenue and profit increased due to sales growth driven by mainstay bag-type noodles in Hong Kong and the CUP NOODLES brand in Mainland China covering various costs. Revenue (Bil. Yen) FY 3/2024 FY 3/2025 100 Hong Kong and FY 3/2025 : In addition to the recovery in sales volume
Slide 63: Asia
Asia • Revenue and profit increased in all regions, in addition to the contribution of equity method gains. In Thailand, high-value-added bag-type noodles performed well. Revenue (Bil. Yen) FY 3/2024 FY 3/2025 35 By descending order of revenue 30 25 Thailand FY 3/2025 : Increased (Forex impact +0.5
Slide 64: EMEA
EMEA • Revenue continued to increase in the rapidly growing instant noodles market, but profit decreased mainly due to profit decline in equity method Mareven. Revenue (Bil. Yen) FY 3/2024 FY 3/2025 35 30 25 20 EMEA FY 3/2025 : Increased (Forex impact +1.0 Bil. yen) 15 • All three major brands, Cup
Slide 65: Appendix
Appendix 64
Slide 66: Financial KPI
Mid- to Long-Term Growth Strategy: Four-Year Review and Future Direction • We have already achieved many of our FY 2030 financial KPI target levels. Item Category Item Mid- to Long-Term Targets Progress Review Future Direction Core Operating Profit Double-digit growth over long term. Growth FY20-24
Slide 67: Revenue and Volume in the Americas and Overseas (YoY)
Revenue and Volume in the Americas and Overseas (YoY) Base products : +low-single digit % Premium products : +10% level FY 3/2024 FY 3/2025 FY 3/2026 Q4 Q1 Q2 Q3 Q4 FY3/2026 (Jan.-Mar.) (Apr.-Jun.) (Jul.-Sep.) (Oct.-Dec.) (Jan.-Mar.) Plan YoY Revenue Revenue Revenue Revenue Revenue Revenue Local cur
Slide 68: Major Price Revisions (Domestic)
Major Price Revisions (Domestic) FY 3/2020 ~ FY 3/2022 FY 3/2023 FY 3/2024 FY 3/2025 FY 3/2026 Business NISSIN FOOD Noodles Instant PRODUCTS Apr. Jun. 2019 (NISSIN FOOD 4-8%、 Jun.(NISSIN FOOD 5-12%、 Jun. (NISSIN FOOD 10-13% MYOJO FOODS MYOJO 9-12%) (NISSIN FOOD, Cup rice 11%) MYOJO 3-7%) MYOJO 6-12%
Slide 69: Major Price Revisions (Overseas)
Major Price Revisions (Overseas) FY 3/2020 – FY 3/2021 FY 3/2022 FY 3/2023 FY 3/2024 FY 3/2025 FY 3/2026 U.S. Apr. 2019 (Bag, Cup) May (Bag, Cup) Jan. (Bag, Cup) Aug. Average 36% (Bag, Cup) Brazil Feb. May 2020 Nov. 2020 Feb. 2021 Jul. (Bag) Feb. (Bag, Cup) May (Bag, Cup) Jun. (Bag, Cup) Jul. (Bag)
Slide 70: Disclaimer on forward-looking statements
Company plans, business forecasts, strategies, and other information contained in this document are based on management judgments derived from information available at the time of this publication. Be aware that these are only future projections, and actual results may differ due to various risks an