Nissin snaps ties with Jinmailang

Nissin Foods Holdings Co Ltd, the Japanese instant noodle maker, has ended a collaboration with its Chinese partner to focus more on supplying premium products to the market.

The Japanese firm has sold its interest in three joint-venture operations for 450 million yuan ($70.3 million) to Jinmailang Investment Co Ltd.

Koki Ando, president, representative director and CEO of Nissin Foods Holdings, said that in the future, the company would focus on expanding its business in China through local subsidiaries, without elaborating on exactly why the agreement had been ended.