Japanese retailer Aeon is expected to post parent-only sales of ¥1.7trn (US$14.4bn) for the fiscal year to 28 February, enabling it to take the place of rival Daiei as the number one supermarket retailer in terms of sales.

Daiei, meanwhile, is expected to miss its sales target of ¥1.59trn for the fiscal year, as it undergoes restructuring to streamline its operations, reported the Nihon Keizai Shimbun.

In 1979, Daiei became the first Japanese retailer to achieve more than ¥1trn in sales.

Aeon has forecasted pre-tax profit up 14% in fiscal 2002 to a record ¥33bn on a parent-only basis.