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Media & Entertainment

Tokyo Disney operator upgrades profit view on record attendance

'Soaring' ride helps lift full-year earnings estimate by $100m

The operator of the Tokyo Disney Resort has upgraded both its full-year profit and attendance forecasts.

TOKYO -- Oriental Land, the operator of Tokyo Disney Resort, on Wednesday raised its full-year profit forecast by 10.9 billion yen ($100 million) as theme park attendance topped estimates on the strength of new attractions.

The company now expects group net profit to fall by a less-steep 16% to 76.2 billion yen for the year ending in March.

The resort's Tokyo Disneyland and Tokyo DisneySea theme parks welcomed 15.73 million people in the six months to September, a record high. Oriental Land raised its full-year attendance forecast by 1.5 million people to 31.5 million.

The new Soaring: Fantastic Flight attraction, which simulates aerial tours of world landmarks, has proven a major draw for repeat visitors in the region surrounding Tokyo.

A drop in traffic from more distant parts of Japan had been expected this fiscal year, which lacks last year's special events marking Tokyo Disney's 35th anniversary.

The resort operator now expects net sales to fall 4% to 503.8 billion yen, a 24.6 billion yen improvement from the previous forecast.

Higher revenue is helping absorb a rise in labor costs. Net profit for the six months to September came in at 43 billion yen, down 1% on the year but higher than the 34.7 billion yen that was projected, Oriental Land reported on Wednesday.

But visitors have bought less merchandise at the parks than the company expected, prompting Oriental Land to lower its full-year forecast for sales per guest.

The resort had a brush with a typhoon this month that prompted the theme parks to close for the first time since the 2011 earthquake and tsunami.

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