Japan’s Nissin Foods Holdings invests $38.1m in Turkey to set up a noodle subsidiary, acquiring a factory in Sakarya province. The move is part of the company’s strategy to expand in Turkey and neighboring regions, aiming for 45% of core operating profit from overseas markets by 2030.

Nissin Foods generated $5.2bn in sales in the fiscal year ending March 31. The company saw growth in Japan, the Americas, and other areas, with core operating profit increasing. However, the new fiscal year started slow, with sales, core operating profit, and operating profit showing declines in the first quarter.

Nissin Foods Co., the Hong Kong-listed arm of Nissin Foods Holdings, expanded in Australia and South Korea last year through acquisitions. The company acquired frozen dumplings maker ABC Pastry in Australia and baked grains crispy rolls maker Gaemi Food in South Korea.

Read more at Yahoo Finance: Japan’s Nissin Foods expands into Turkey with local production plant