Supermarket chain operator Jusco Co. revealed Thursday it has set its group sales target for fiscal 2010 at 7 trillion yen.
The forecast, which represents a three-fold increase on its current sales, constitutes an effort by Jusco to become one of the top 10 retailers in the world.
Although Jusco will change its corporate name to Aeon Co. on Tuesday, its supermarket chain brand will remain the same.
Jusco President Motoya Okada said Aeon will, by the end of 2003, become a holding company that will continue to operate Jusco stores.
To boost its competitiveness, Okada said the group will reorganize its corporate systems and place a greater emphasis on four business fields: general merchandising stores such as Jusco outlets, groceries, drug stores, and other services including a credit card business.
Group sales from general merchandising stores are expected to reach 3 trillion yen in the firm's 2010 business year to, compared with the 2.11 trillion yen posted in its 2000 fiscal year.
The retail group will also try to generate 2 trillion yen from groceries and 1 trillion yen from drug stores in the 2010 business year, Okada said.