Tokyo Disney Resort Operator Logs Record Quarterly Loss
Tokyo, July 30 (Jiji Press)--Oriental Land Co. <4661>, the operator of Tokyo Disney Resort theme parks, on Thursday posted a record quarterly net loss for April-June, as sales plunged due to their closures amid the coronavirus outbreak.
The company swung to a consolidated net loss of 24,871 million yen in the fiscal first quarter from a profit of 22,923 million yen a year before.
The previous record loss was 3.8 billion yen marked in April-June in 2011 in the aftermath of a massive earthquake and tsunami in March that year.
Oriental Land closed the Tokyo Disneyland and Tokyo DisneySea parks in Urayasu, Chiba Prefecture, east of Tokyo, for four months from late February due to the outbreak.
The company saw its sales tumble 94.9 pct from a year earlier to 6,164 million yen. It booked 21.1 billion in extraordinary loss related to costs from the closures, including leave allowances.
[Copyright The Jiji Press, Ltd.]