Ajinomoto Co. and Toyo Suisan Kaisha Ltd. have agreed to set up joint instant noodle ventures in India and Nigeria to meet growing demand and challenge their foreign rivals, the two companies said Wednesday.

Ajinomoto, the nation's leading food additive and seasoning maker, and Toyo Suisan, maker of the Maruchan noodle brand, plan to start marketing instant noodles under a new brand in India in fiscal 2016 and in Nigeria in fiscal 2015, they said.

Toyo Suisan President Kazuo Obata said the Indian and Nigerian markets are extremely attractive because they ranked fifth and 12th, respectively, in terms of servings in fiscal 2012, on the back of rapid economic and population growth.