Multi-brand Japanese retailer AEON has reported a decline in revenue to ¥1.2trn (£9.1bn) for the first quarter of the financial year ended 31 May, down from JPY1.21trn (£9.2bn) for the same period in 2010.

Net profit also fell, to ¥5.76bn (£47.3m), though operating profit grew to ¥28.3bn (£0.2bn). The company is aiming to increase sales by becoming a global retailer, with a focus on Asia.