Tokyo Disney Park Operator Swings to Loss in April-Dec.
Tokyo, Jan. 28 (Jiji Press)--Oriental Land Co. <4661> on Thursday reported a group net loss of 28,728 million yen for April-December 2020, its first such loss for the nine-month period since the Tokyo Disney Resort operator started to disclose quarterly earnings in fiscal 2003.
The disappointing outcome, compared with the year-before net profit of 70,992 million yen, came as the company shut Tokyo Disneyland and Tokyo DisneySea for four months from late February 2020 due to the spread of the novel coronavirus.
Oriental Land also set a cap on the number of visitors after the reopening of the Disney theme parks in the city of Urayasu, Chiba Prefecture, adjacent to Tokyo.
The firm’s consolidated sales in the first three quarters of fiscal 2020 slumped 64.9 pct from a year before to 137,113 million yen.
The company’s performance had been recovering since it eased the visitor restrictions and opened a new attraction in autumn last year, with its consolidated operating balance returning to the black in October-December.
[Copyright The Jiji Press, Ltd.]