News: Japan-based Nissin Foods has launched a new line of 'affordable', high-quality instant noodles under its Nissin Noodle Shop range in the Japanese market, reports Just Food. The move is aimed at expanding the company's Noodle Shop range in Japan. The market for instant noodles in Asia-Pacific was worth US$40bn in 2012, according to Euromonitor.
BMI View: Our outlook on consumer confidence in Japan is slightly more upbeat when compared with previous quarters, as we believe that Prime Minister Shinzo Abe's direct approach in terms of encouraging wage increases and business spending is likely to bolster growth in private consumption and investment over the near term. With leading indicators showing much-sought-after improvements, we believe the optimism following the regime change in Japan will help to drive a pickup in economic activity in 2013.