April 22, 2014 2:10 am JST

Oriental Land to rake in record profit for fiscal 2013

TOKYO -- Oriental Land Co.'s operating profit apparently rose 35% on the year to slightly above 110 billion yen ($1.06 billion) in fiscal 2013, thanks to strong leisure spending and events celebrating Tokyo Disney Resort's 30th anniversary.

     The record figure tops the projected 106.6 billion yen.

     Sales likely climbed 19% to a record 470 billion yen, beating guidance by some 10 billion yen. Total attendance at Disneyland and Tokyo DisneySea grew 14% to 31.29 million, topping 30 million for the first time.

     Oriental Land took steps to draw in customers, including revamping noontime parades and remodeling attractions. These efforts brought in more visitors from not only Tokyo, but also other parts of Japan. Traffic also increased from Southeast Asia, bolstered by the soft yen.

     In-park spending per visitor, including meals and commemorative items, climbed as well, with sales per customer likely reaching an all-time high. This compensated for the repercussions of the poor weather, including February's heavy snowfall.

     The ticket price increase due to this month's sales tax hike has not hit Oriental Land especially hard. Customer traffic has not shown a notable decline. But the company likely expects profit to decline this fiscal year as the anniversary effect fades.

(Nikkei)