Nissin Foods to Develop Ready-To-Eat Fresh-Cut Vegetable Business

HONG KONG, Apr 24, 2020 - (ACN Newswire) - Nissin Foods Company Limited ("Nissin Foods" or the "Company", together with its subsidiaries, the "Group"; Stock code: 1475) has today announced that the Group will be making an initial investment of approximately HK$7 million to set up its first production line on pre-packaged ready-to-eat fresh-cut vegetables in Hong Kong. The new production line is to be built within the Group's chilled and frozen food production plant in Tai Po Industrial Estate, and production is expected to commence in December 2020. As consumers become more health conscious and as the business continues to develop hereafter, Nissin Foods intends to further invest to expand the related business.

Mr. Kiyotaka ANDO, Executive Director, Chairman and Chief Executive Officer of Nissin Foods, said, "We have been actively but prudently looking for opportunities to invest in appropriate partnerships and facilities, in order to enhance our product portfolio and production efficiency. The Group will apply the Japanese state-of-the-art production and management expertise in developing the new production on the ready-to-eat fresh-cut vegetables. Our target is to provide a food choice that is healthy, fresh, delicious, yet convenient and affordable for increasingly health-conscious consumers. Leverage on our resources and expertise in the production and sales of instant noodles, snacks, chilled and frozen foods, we believe the new ready-to-eat fresh-cut vegetable business will enrich the product portfolio and boarden the customer base of the Group, further expanding our revenue stream and enhancing overall competitiveness."

Nissin Foods is the inventor of instant noodles and a leading manufacturer of instant foods in Hong Kong and southern China. Its core brands include "Cup Noodles", "Demae Iccho", "Doll Instant Noodles", "Doll Dim Sum" and "Fuku". The Group has been actively developing its non-instant noodles business, including "Kagome" vegetable juices, "Nissin Koikeya" potato chips and sticks, granola, as well as distribution business.

About Nissin Foods Company Limited
Nissin Foods Company Limited (The "Group"; Stock code: 1475) is a renowned food company in Hong Kong and the PRC with a diversified portfolio of well-known and highly popular brands and the largest instant noodle company in Hong Kong. The Group officially established its presence in Hong Kong in 1984. The Group primarily manufactures and sells instant noodles, frozen foods and other food products under its two core corporate brands, namely "NISSIN" and "DOLL" together with a diversified portfolio of iconic household premium food brands. The Group's five flagship product brands, namely "Cup Noodles", "Demae Iccho", "Doll Instant Noodle", "Doll Dim Sum" and "Fuku" are also among the most popular choices in their respective food product categories in Hong Kong. In the PRC market, the Group has introduced technology innovation through the "ECO Cup" concept into the market and primarily focuses its sales efforts in first- and second-tier cities located in the eastern and southern parts of the PRC. For more information, please visit www.nissingroup.com.hk.

For media enquiries:
Nissin Foods Company Limited
Public Relations Department
Blanche Wong / Ceci Leung
Email: pr@nissinfoods.com.hk

For investor enquiries:
Nissin Foods Company Limited
Investor Relations Department
Shingo Yamazaki / Peter Kwok
Email: ir@nissinfoods.com.hk

Strategic Financial Relations Limited
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Cara Lau Tel: (852) 2864 4890 Email: cara.lau@sprg.com.hk


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