Saturday, October 19, 2013
Tokyo Disney Operator Expects Record Admissions, Profit
TOKYO (Nikkei)--Theme park operator Oriental Land Co. (4661) announced Friday that operating profit for the fiscal year ending in March will likely rise 31% to a record 106.6 billion yen.
An anticipated surge of visitors during Tokyo Disney Resort's 30th anniversary prompted the upgrade to the previous operating profit forecast of 82.7 billion yen. Annual attendance is expected to top 30 million for the first time, jumping 12% from fiscal 2012 to reach 30.7 million. Tokyo Disney Resort comprises Tokyo Disneyland and Tokyo DisneySea.
Oriental Land now projects 460.3 billion yen in sales after an upward revision of more than 10%. A new parade and other popular attractions are drawing patrons from outside the greater Tokyo region, where the parks are located. Boosted by a weaker yen, attendance from other Asian countries and beyond is returning to levels not seen since before the 2011 earthquake and tsunami.
Sales per guest are also set to rise on strong revenue from anniversary-related merchandise and park restaurants. Net profit has been revised to a record 66.2 billion yen, up 29% from last fiscal year and about 14 billion yen higher than the previous forecast.
Oriental Land also upgraded its anticipated net profit for the six months ended Sept. 30. The company had projected a 4% dip on the year, but unexpectedly high admissions figures have apparently boosted profit by 41% to 35.9 billion yen.
(The Nikkei, Oct. 19 morning edition)