Japan's leading instant noodle-maker Nissin Foods Holdings Co. will enter the vegetable beverage market in Hong Kong, Macau and mainland China, tapping its sales network to capture potential demand from health-conscious consumers.
The company says Nissin Foods Co., its Hong Kong subsidiary, will establish a joint venture in the city next month with Kagome Co., a Japanese juice and sauce ingredient-maker, to import and sell Kagome's vegetable drinks in the three markets.
The joint venture, with a registered capital of $5 million Hong Kong dollars ($640,000), is owned 70 percent by Nissin's Hong Kong unit and 30 percent by Kagome, which is based in Nagoya.