Japanese supermarket operator, Aeon Co. Ltd. said on Thursday it expects to open its first store in Vietnam, Indonesia and Cambodia by 2014 after it completes the acquisition of the Malaysian operations of France-based grocer Carrefour SA on Thursday for 250 million euros (324 million U.S. dollars).

Aeon's Asean business CEO, Nagahisa Oyama said the company would invest 30 billion yen (375.2 million U.S. dollars) in the three Southeast Asian countries and is undertaking efforts to open businesses there.

The company is the third largest retailer in Malaysia, its Southeast Asia headquarter, with 29 stores in the country.

It currently operates in Thailand, the Philippines, Vietnam, Indonesia and Cambodia, mainly as a credit service provider.

"We are trying to expand our business in Southeast Asia because we have a firm confidence there is a growth market," Nagahisa said.

The company estimates to post 15 to 17 billion yen (187.3 million U.S. dollars) in operating profit for its Asean market this year.

Carrefour is the fourth-biggest retailer in Malaysia that had 26 stores and 400 million euros (518.5 million U.S. dollars) in sales in the 12 months through June 30.

The company has been trimming its overseas operations to divert its resources to its struggling european hypermarkets and other more established markets.

It recently agreed to sell its stores in Colombia and Chile for 2.6 billion U.S. dollars.

It left Greece in July and plans to exit Singapore by year-end.

The acquisition of Carrefour Malaysia gives Aeon a spot as the country's second largest retailer group as the company aims to open 100 stores in various formats by 2020.

Nagahisa said Aeon would continue to expand in China despite a territorial dispute that has forced its to close dozens of its Uniqlo outlets there. Endi

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