Nissin's U.S. results during a shelf-space recovery.
Nissin Foods Group makes instant noodles in cups and bags and sells them to consumers through retailers. In the United States, it lost space on major retailers’ shelves. Its disclosures for the year ended March 2026 (April 1, 2025 to March 31, 2026) show efforts by Nissin U.S.A. to restore distribution alongside U.S. revenue still below the prior year. Where in the selling process does recovery become visible?
The shelf-loss explanation concerns Nissin U.S.A., while this revenue series also includes Myojo U.S.A. The company coverage differs even though both appear under a U.S. heading.
Checkout purchases and manufacturer sales move on different schedules
The retail data distinguish lower-priced Base products from higher-priced Premium products. As the CFO explains, the balance of purchases between those groups also changes the average retail price.
The CFO identifies the presentation’s retail chart as sell-out, or sales to consumers. Sell-in measures the manufacturer’s sales into distribution at an earlier transaction stage. Company coverage, retail coverage and observation dates also differ from the revenue series. Subtracting the two cannot establish inventory changes.
Product mix changes the average price after a price revision
Reading the price revision therefore calls for attention both to product prices and to the balance of Base and Premium products consumers buy.
Selling terms also enter revenue
Buying from the manufacturer, buying at the store
The same noodles pass through purchases with different counterparties and timing.
Sell-in
The manufacturer supplies products to the trade buyer; the trade buyer pays the manufacturer.
Manufacturer
Supplies products→
←Trade payment
Trade buyerRetailers, club channels and other outlets
Sell-out
The retailer sells products to the consumer; the consumer pays the retailer.
Retailer
Sells products→
←Purchase payment
ConsumerChooses products at the store
Revenue recorded by the manufacturer
Consideration when control passes to the customer on delivery, less discounts, rebates and returns. This is a separate transaction from the consumer’s payment at the store.
The two transactions are shown separately. The article’s manufacturer-revenue series and retail data differ in company coverage, retail coverage and observation dates; their difference cannot establish inventory changes. Arrows do not represent amounts or volumes.
Nissin U.S.A.’s retail data showed volume outperforming the market and premium products recovering. Combined revenue from Nissin U.S.A. and Myojo U.S.A. nevertheless fell 8% in local currency for the year ended March 2026.
Regaining shelf space involves distribution, the mix consumers buy and the terms used to sell. The trade’s purchasing schedule, consumers’ product choices and manufacturer revenue after discounts and rebates each capture a different part of that work. Following them separately reveals several paces of recovery within the same instant-noodle business.
Marugame makes noodles from flour inside its restaurants and uses its noodle-master program to develop the judgment needed to work with dough. It had 887 directly operated Japanese stores at March 2026 and earned ¥21.955bn in segment business profit that year. Cooking in each kitchen, and developing the people who do it, support Toridoll's largest earnings contributor. The company does not isolate the training program's effect on revenue or profit.
