Oriental Land Posts Record Net Profit

Economy

Tokyo, April 26 (Jiji Press)--Oriental Land Co.'s <4661> group net profit in fiscal 2018 rose 11.2 pct from the previous year to a record 90,286 million yen, thanks to the popularity of Tokyo Disneyland's 35th anniversary-related events.

The previous record was marked in fiscal 2016.

According to the company's consolidated earnings report released Thursday, the combined number of visitors to Tokyo Disneyland and Tokyo DisneySea in the year that ended in March went up 8.2 pct to 32.56 million, the highest on record.

Sales increased 9.7 pct to 525,622 million yen, led by strong sales of related merchandise, pushing up operating profit by 17.2 pct to 129,278 million yen. Both marked record highs.

For the current year to March 2020, Oriental Land foresees a decline in sales and profits, expecting the number of visitors to the theme parks to fall to 30 million due to the end of the anniversary events.

[Copyright The Jiji Press, Ltd.]

Jiji Press