Nissin Foods' MSCI ESG rating upgraded to A

Jun 05, 2023 13:48 JST

Source: Nissin Foods Co Ltd

HONG KONG, Jun 05, 2023 - (ACN Newswire) - Nissin Foods Company Limited ("Nissin Foods", and together with its subsidiaries, the "Group"; Stock code: 1475) has received an 'A' rating in the latest MSCI Environmental, Social and Governance (ESG) Ratings, an upgrade from 'BBB', recognizing its remarkable ESG performance.

The MSCI index is highly popular among global portfolio managers, and its ESG rating has emerged as a critical factor in the investment decisions of major institutions worldwide. The ESG rating assesses a company's risk exposure and risk management strategies related to environmental, social, and governance issues, primarily using publicly available information and company disclosures. It offers a comprehensive evaluation of a company's ESG performance and its impact on key operations.

According to MSCI, Nissin Foods excelled in the following areas: Packaging Material & Waste, Raw Material Sourcing and Governance, indicating the Group affords higher recovery than most of its peers in packaging material & waste, limited revenue from business lines reliant on raw materials with high environmental impact, strong sustainable sourcing initiatives relative to peers and strong initiatives to reduce carbon intensity of products across its value chain. Moreover, MSCI highlighted the Group's outstanding Corporate Governance and Corporate Behaviour improvements, acknowledging its detailed business ethics and anti-corruption policies.

Mr. Kiyotaka ANDO, Executive Director, Chairman and Chief Executive Officer of Nissin Foods, said "We are pleased to see our continued effort in ESG development has been recognized by the industry. At Nissin Foods, we will continue to build on our strength to ensure the stable supply of food and contribute to building a healthier, greener way of living. Looking forward, we will remain steadfast in our efforts to enhance ESG performance and create sustainable value for our shareholders."

About Nissin Foods Company Limited
Nissin Foods Company Limited (the "Group"; Stock code: 1475) is a renowned food company in Hong Kong and Mainland China 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 Mainland China market, the Group has introduced technology innovation through the "ECO Cup" concept and primarily focuses its sales efforts in first-and second-tier cities.

Nissin Foods is a constituent of eight Hang Seng Indexes, namely: Hang Seng Composite Index, Hang Seng Consumer Goods & Services Index, Hang Seng Stock Connect Hong Kong Index, Hang Seng Stock Connect Hong Kong MidCap & SmallCap Index, Hang Seng Stock Connect Hong Kong SmallCap Index, Hang Seng SCHK Mainland China Companies Index, Hang Seng SCHK ex-AH Companies Index, and Hang Seng Small Cap (Investable) Index. Nissin Foods is eligible for trading under Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect. For more information, please visit www.nissingroup.com.hk.

Source: Nissin Foods Co Ltd
Sectors: Food & Beverage