Takeshi Niinami, president of Japan's number two convenience chain Lawson, has said the company will boost its store numbers in China by up to 10 times over the next 10 years as it seeks growth outside its saturated home market.

"We assume there will be about 30,000 convenience stores in China in five to 10 years. We want to be a player with a 10 percent share," Niinami said at a press conference.

Lawson currently has about 300 outlets in Shanghai, will also aggressively further its reach into other Asian markets as well.

The company expects operating profit to rise 3% for the year ending February 2010, but is, like many other Japanese companies pinning growth hopes abroad.

Tokyo-based Goldman Sachs analyst Sho Kawano believes that Japan's retail sector will be most successful where the retailers are dealing with national brands as opposed to private label.