December 11, 2023
We are pleased to announce that Kanematsu Corporation (hereinafter Kanematsu) has invested in Nippon Trends Food Service, Inc. (hereinafter NTF), that is a fresh noodle sales and manufacturing company operating in the United States and Canada, on December 1, 2023. The investment was made through our wholly owned subsidiary Kanematsu USA Inc., and NTF is now an equity method affiliate. Kanematsu will join the fresh ramen noodle sales and manufacturing business in North America, one of the largest ramen consuming regions in the world with the potential for growth in demand. Furthermore, we will utilize our network to expand the scope of services, such as providing ingredients for ramen toppings and other related foods and aim for extensive development of the ramen business.
Ramen ranked second in the list of “most satisfying food and drink” in a consumption trend survey of international visitors to Japan that was conducted during April to June 2023 by the Japan Tourism Agency. Demand for this popular Japanese food is expected to grow in various countries around the world. The market size of ramen restaurants in the United States was US$1.1 billion in 2021,1 with the number of restaurants and sales nearly surpassing the pre-pandemic level. The market is expanding and is expected to grow by about 6.3% annually2 until 2026.
NTF was founded in San Jose, California, USA, in 2000 and began as a manufacturer and vendor of fresh ramen noodles. It has the second highest share of the fresh noodle sales market in North America and supplies about 48 million servings of noodles annually to clients, including JINYA Holdings, the largest ramen restaurant chain in the US, as well as other ramen restaurant chains, Japanese restaurants, and mass-market retailers in major cities in the US and Canada. Kanematsu has been conducting business with NFT for many years, such as providing wheat flour, the main ingredient of ramen noodle, and services related to NTF’s production.
Kanematsu sets the goal of establishing and increasing the scale of new businesses toward the creation of a future-oriented business portfolio in its midterm management plan “future 135”. Through this investment, we aim to contribute to the development of Japanese food culture and increase our transactions in the Japanese food business in the world.
Kanematsu will work with NTF for the further growth and development of the industry. In addition to employing the excellent sales and manufacturing capabilities of NTF, we will deploy our personnel to support its management, expand sales channels by utilizing our Group’s network, and provide know-how related to efficient purchasing. Our goal is to have NTF achieve sales of US$50 to 100 million in five years.
*1 In-house research
*2 In-house research
【Overview of Nippon Trends Food Service, Inc】
| Name | Nippon Trends Food Service Inc. | Head office | San Jose, CA, USA |
| Established | 2000 | Representative | Hideyuki Yamashita |
| Business | Sales and manufacturing of raw noodles | URL | https://www.yamachanramen.com/ |
Contact:
Public & Investor Relation Section, Kanematsu Corporation Tel ： +81-3-6747-5000
https://www.kanematsu.co.jp/en/inquiry/