Progress Report on
Mid- to Long-Term
Growth Strategy 2030

FY 3/2023 Results

Exceeded mid-to long-term goals

In FY 3/2022, the core operating profit of existing businesses has grown by approximately 20% over a three-year period (CAGR), and the ratio of overseas business in core operating profit in relation to the total of the three existing businesses' core operating profit stood at 46%, exceeding the targets set in our mid-to-long-term growth strategy. While this includes a positive impact of approximately 4.1 billion yen due to the yen's depreciation, it is also attributable to the surge in demand for instant noodles during the COVID-19 pandemic.

As a result, our ROE was 10.7%, surpassing our target of 10%. The ratio of net interest-bearing debt to EBITDA is also firmly negative, highlighting robust financial health.

Growth Potential

Core Operating Profit of Margin of Existing Businesses (CAGR)

FY 3/2021–FY 3/2023 Results


FY 3/2021–FY 3/2031 Targets

+ Mid-Single Digits (%)

Ratio of core operating profit of overseas business to the total core operating profit of all three businesses*1

2022 Results


2030 Targets




FY 3/2023 Results


2030 Targets

10% over the long term



FY 3/2023 Results


2030 Targets


The global demand for instant noodles has accelerated and stabilized, even under inflationary environment
Our overseas business, mainly the Americas, drove our overall growth and promotes profitability.

Our overseas business, which is positioned as our main growth driver, has grown faster than our expectations. This growth has arisen from a global increase in demand for instant noodles during the COVID-19 pandemic and their relatively affordable prices during a time of rapid inflation, which has helped further increase and stabilize demand.

The Americas growth, in particular, has driven the entire overseas business growth. Globally, even after price hikes, demand has remained robust. In the United States, for instance, premium products with a higher price point are thriving, showcasing the healthy sales of high-value-added items.

When it comes to domestic businesses, although the domestic instant noodle business has grappled with surging raw material and energy costs, we have remained firmly committed to sustained growth. This is partly because of price hikes and a focus on high-value-added premium products in the instant noodle business, and growing profits of NISSIN YORK and KOIKE-YA in the non-instant noodle business.

Core Operating Profit of the Three Businesses*1
Overseas Business Composition Ratio*2

Core Operating Profit of the Three Businesses, Overseas Business Composition Ratio
  1. COP of the Three Business = Sum of Core Operating Profit from Domestic Instant Noodles Business, Domestic Non-Instant Noodles Business and Overseas Business
  2. Overseas Business Composition Ratio - Overseas Core Operating Profit (COP) / (Domestic Instant Noodles COP + Domestic Non-Instant Noodles COP + Overseas COP)

FEATURE: Accelerating Nissin's Premium Strategy in the U.S.

FEATURE: Breakthrough by NISSIN YORK and KOIKE-YA with High-Value-Added Products