Japanese retailer AEON has said it aims to nearly double its operating profit in three years through expanding in Asia, according to reports.

According to Reuters, the company released a business plan today (26 October) that predicted its operating profit would reach JPY250bn (US$3.07bn) in February 2014, from JPY135bn in its 2009/2010 financial year.

The company announced plans to invest JPY830bn in opening new stores, of which a quarter of those will be earmarked for countries such as Indonesia and Thailand.

According to the report, the investment in south-east Asia would be more than double what it spent in a three-year plan that ended in February.

Additionally, the company is rumoured to be one of the bidders on Carrefour‘s operations in Thailand, Malaysia and Singapore.