FamilyMart says to open 1,600 stores in Japan in 2014/15

TOKYO: Japan's FamilyMart Co Ltd , one of the country's largest convenience store chain operators, said on Tuesday it will open 1,600 stores in Japan in the fiscal year that started on March 1, compared with 1,355 stores in the prior fiscal year.

The company also forecast a 6.2 percent rise in operating profit in 2014/15 to 46 billion yen ($446 million).

Last week, Seven and I Holdings Co, the operator of the world's biggest convenience store chain 7-Eleven, said it would open a record 1,600 stores in Japan this fiscal year despite a sales tax hike on April 1 that is expected to dampen consumer sentiment.