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Maintaining food safety is paramount To Our Shareholders It really goes without saying but let me emphasize it here anyway. Where food is concerned, safety is takes precedence over flavor. In 2002, Nissin Foods set up the Food Safety Research Institute in Japan to concentrate on food safety issues and formulate environmental policy for corporate activities. The institute undertakes standard analysis of some 12,000 items related to 3,000 products every month and underpins thorough quality control through careful checks for residual pesticides, nonapproved food additives and other substances. Our commitment to food safety is further reinforced by the fact that all domestic facilities, including the Food Safety Research Institute, have acquired ISO 9001 certification. Overseas, our production facilities adhere to quality control systems based on ISO 9001 criteria. Maximizing corporate value for all stakeholders At Nissin Foods, stakeholders is a term that covers shareholders and business associates, consumers and the citizens who live near our facilities, as well as employees and senior management. It is imperative for the Company to undertake activities that benefit all these stakeholders. We always ask ourselves, “Is this the best way” To ensure that the Company does indeed pick the best way, there are two external members of the Board of Directors who enhance the Board’s ability to determine basic operating policy and execute strategic decisions. In regard to our dividend policy, we are committed to reaching a payout ratio of around 30%, on a nonconsolidated basis. Guided by this policy, we maintained dividends at ¥30 per share for fiscal 2005. Over the medium to long term, we aim to raise value still higher for stakeholders, including shareholders, as we strive to meet the expectations placed upon us and build on existing bonds of trust. Demand for instant noodles is strong and is sure to expand still further around the world because the products are safe, tasty, storable, convenient and reasonably priced. Indeed, instant noodles have become a universal product. They have the potential to lessen the extent of food crises or famine. Some even support a healthy lifestyle. From its vanguard position in the instant noodle industry, Nissin Foods will strive to contribute to better eating habits around the world while realizing its corporate mission and achieving management objectives. On behalf of the Board, I would like to thank shareholders, investors and business partners for their support to date and ask for everyone’s continued encouragement of our efforts. August 1, 2005 Shareholder Value Koki Ando President 6
Review of Operations Others 9.3% Chilled and Frozen Foods 12.6% Pillow-Type Noodles 13.9% Cup-Type Noodles 64.2% Instant Noodles 78.1% Consolidated Net Sales by Category (Year ended March 31, 2005) Total ¥316,973 million 7
Page 2 and 3: Nissin Foods’ Slogan in 2005 is
Page 4 and 5: Nissin Food Products Co., Ltd., and
Page 6 and 7: To Our Shareholders Nissin Kentaro
Page 10 and 11: Review of Operations (Consolidated)
Page 12 and 13: To promote marketing strategies tha
Page 14 and 15: Review of Operations Review of Over
Page 16 and 17: Review of Operations In Beijing, Ni
Page 18 and 19: Review of Operations Research and D
Page 20 and 21: Founder Momofuku Ando: Father of an
Page 22 and 23: Board of Directors (As of June 29,
Page 24 and 25: Financial Review F inancial Section
Page 26 and 27: Net cash used in investing activiti
Page 28 and 29: (2) Increases in Price of Raw Mater
Page 30 and 31: Nissin Food Products Co., Ltd. and
Page 36 and 37: F inancial Section Derivative trans
Page 38 and 39: The Company’s pensions are paid f
Page 40 and 41: 14. Litigation The Group is not cur
Page 42 and 43: Basic Policy Regarding Corporate Go
Page 44 and 45: Worldwide Network W orldwide Networ
Page 46 and 47: Corporate Data Nissin Food Products
Page 48: 28-1, 6-chome, Shinjuku, Shinjuku-k

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