Disney parks profits are on the rise in the land of the rising sun, according to the Oriental Land Company, owner of the Tokyo Disney Resort. For the April-June quarter, the group reports that operating profits have increased 10% to almost 15 billion yen ($224 million.)
The increase is partly attributed to DisneySea’s 15th anniversary celebration, which included the opening of the Nemo & Friends SeaRider in May.
Despite the strong sales, the company still expects a slight decrease in attendance later in the year. From Nikkei…
Despite likely strong first-quarter results, Oriental Land will probably maintain its forecast for the fiscal year through March 2018 when it releases earnings Friday. Since customer traffic tends to fluctuate with the weather, the summer and fall account for much of the company’s profits. Oriental Land expects sales to fall 2% to 469.3 billion yen and operating profit to sink 11% to 100.1 billion yen.
That said, attendance at events going on now is solid, with men in particular enjoying a DisneySea show themed around the “Pirates of the Caribbean” films. Though costs are climbing as Oriental Land prepares to roll out big attractions starting in 2019, there seems to be room for earnings to beat expectations this fiscal year.
Tokyo Disney Resort opened in 1983 as a single resort, Tokyo Disneyland. It expanded in 2001 with the addition of Tokyo DisneySea. Tokyo Disney Resort was the first Disney park built outside of the USA.
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