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Bernstein Sticks to Its Buy Rating for Nissin Foods Holdings Co (NFPDF)
Fuji HD, US, ETC (additional) Rating
Downgrade - Bearish Code Stock Name Brokerage Firm Previous Changed After----------------------------------------------------------------<2175>SMS Morgan S "Overweight" "Equal Weight" <6367>Dai Kin Macquarie "Outperform" "Neutral" Target Price Change Code Stock Name Brokerage Firm Previous Changed After-----------------------------------
Nissin Foods' Profit Down 11% in Fiscal Nine Months; Shares Fall 3%
NISSIN FOODS: In the first three quarters of 2023, the operating profit of NISSIN FOODS' Business segment in China was 2.839 billion yen, a decrease of 47.2% year-on-year.
NISSIN FOODS (01475) announced the performance of its controlling shareholder Nissin Foods Holdings Co. Ltd. (Nissin from Japan) for the nine months ending December 31, 2024. During this period, Nissin's revenue from its business segment in China was 53.529 billion yen, an increase of 9.6% year-on-year, with core operating profit at 5.361 billion yen, a year-on-year growth of 0.2%; and operating profit was 2.839 billion yen, a year-on-year decrease of 47.2%. Excluding exchange rate factors, revenue was 50.38 billion yen, a year-on-year increase of 3.1%; and core operating profit was 50.
NISSIN FOODS issued a profit warning, expecting the annual profit attributable to Shareholders to decrease by approximately 0.195 billion to 0.205 billion Hong Kong dollars year-on-year.
NISSIN FOODS (01475) announced that the group expects to achieve a profit attributable to company owners of approximately 0.195 billion to 0.205 billion Hong Kong dollars for the year ending December 31, 2024, while the profit attributable to company owners for the year ending December 31, 2023, was approximately 0.33 billion Hong Kong dollars. The expected decrease in profit for this year is mainly due to a one-time and non-cash expense caused by the recognition of asset impairment of approximately 0.13 billion to 0.14 billion Hong Kong dollars in accordance with Hong Kong Accounting Standard No. 36.
Nissin Foods Holdings Reports Increased Sales Amid Market Expansion