FamilyMart lines up plans for more stores

TOKYO: Japan's third largest convenience store chain FamilyMart Co Ltd said yesterday it plans aggressive store openings in China and South Korea in its next financial year as it increasingly looks to overseas markets for growth.

It also said it would decide the future of its loss-making US business by the end of the year.

While convenience stores in Japan have been weathering the economic downturn better than other retailers, they face weak growth prospects as more than 42,000 stores vie for survival in the face of an aging population.