Instant noodle giant Nissin exploring new business in post-COVID-19 HK, China
By Elaine Li
HONG KONG, NNA - Japan's leading instant noodle maker, Nissin Foods Holdings Co., is looking to create a new business chance in the Hong Kong and China markets, launching new products with a view to people’s new lifestyles after the novel coronavirus pandemic.
Kiyotaka Ando, CEO of Nissin Foods Co., its local subsidiary, said at a press conference last Tuesday that the tendency to eat at home will escalate. “We will focus on quality ingredients and hope people can have more enjoyable moments with their families.”
As part of its efforts to propose new products for lifestyle changes to consumers directly, the company is gearing up its business-to-consumer model through the launch of products for health-conscious people at premium prices, he said.
The Hong Kong unit plans to start selling pre-cut vegetables in the Hong Kong and Chinese markets later this year, with prices at around HK$13 to HK$15 ($1.6 to $1.9) per 100-gram package in a bid to promote them together with instant noodles, he said.
Nissin Foods reported a net profit rise of 8 percent from a year earlier to HK$98.97 million in the January-March quarter on sales of HK$884.56 million, up 10.6 percent, as growing demand for instant noodles propped up its earnings amid the Covid-19 lockdown, according to its financial statement.
Production at Hong Kong factories was not able to suffice market demand for instant noodles in the first three months of this year, clearing out all stockpiles during the coronavirus outbreak in the territory, according to the CEO.