Nissin Raises Stake in URC Joint Venture

Manila—(PHStocks)—Nissin Foods Holdings, Co., Ltd. of Japan is increasing its investment in a Universal Robina Corporation (URC) subsidiary, Nissin-URC that makes and markets Nissin Cup Noodles, Nissin Ramen and Nissin Yakisoba in the Philippines.

Nissin-URC also bought URC’s Tarlac noodle plant, equipment, and inventories and now has the license to produce Payless products.

“We have been with Nissin-URC since 1995 and know that Nissin and Payless are great products that have a lot of potential especially in a growing market such as the Philippines,” said Eigo Ogiwara, Nissin Foods Holdings Co., Ltd., Chief Representative for Asia.

Under the new set-up, Nissin, Japan’s leading noodle company will produce Payless instant noodles using its new technology and equipment. URC will handle marketing, sales and distribution.

Nilo Mapa, URC’s Managing Director, said the resulting synergy will make Payless and Nissin bigger market players and the company more efficient and profitable. Noodles have become an all-day staple in the country, he said, and the trend will grow and become more pervasive as the country’s population grows and seeks fast-food convenience.

“This transaction will help us ride the wave of growth that we expect in the coming years and beyond. We are now second in the market and we want a bigger piece of the pie,” he added.