Struggling retailer Daiei Inc. said Friday it expects to post a net group loss of 510 billion yen in fiscal 2004 due to the acceleration of restructuring.

It is the first time Daiei has revealed its net balance projection for the year.

Speaking at a news conference, Daiei President Toshio Hasumi said the retailer would register a negative net worth of around 410 billion yen at the end of February.

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