Society

Tokyo Disney operator's valuation soars as new ride takes off

Sep 05 (Nikkei) - A new attraction at Tokyo Disney Resort is drawing big crowds that help sustain a major round of investments in the 36-year-old theme park site.

The Soaring: Fantastic Flight ride, which simulates a whirlwind tour around the globe, cost 18 billion yen ($170 million). One fan tweeted that it was "worth the wait in line," which often runs to around three hours even weeks after its late-July debut.

Tokyo Disney operator Oriental Land stock has hit fresh highs. With a market capitalization topping 5.6 trillion yen, Oriental Land is now the 12th-most-valuable listed Japanese company, topping such multinationals as Honda Motor and Nintendo.

Oriental Land has big spending plans lined up at the resort, which spans Tokyo Disneyland and Tokyo DisneySea. A "Beauty and the Beast"-themed area debuts in 2020, followed by a "Toy Story"-themed hotel in fiscal 2021, as part of efforts costing more than 100 billion yen.

The company plans to pour 250 billion yen into expanding Tokyo DisneySea. It earmarks about 100 billion to 150 billion yen a year in overall investments starting in fiscal 2020.

Strong earnings are fueling this capital spending. Oriental Land's net profit grew 11% on the year to a record 90.2 billion yen for the year ended March, when Tokyo Disney Resort celebrated its 35th anniversary. It had expected fewer visitors this year, since fiscal 2018 was so tough to follow, but attendance remains strong. The stock now trades at around 78 times forward earnings, but few analysts see it as overvalued.

Do Bears Prefer Acorns or Berries?

Bear sightings across Japan have already climbed to nearly twice the level recorded during the same period last year, prompting entry bans in mountain areas behind Kyoto’s Ninna-ji Temple and the cancellation of hiking events in Kansai, while new research suggests that the key to reducing encounters may lie in understanding what bears eat in each region.

Copper Thieves Target Japanese Shrines

Copper roofing panels were stolen from several shrines in Hamamatsu, Shizuoka Prefecture, including a city-designated cultural property, in the latest case amid a nationwide surge in copper thefts targeting shrines and temples across Japan, where soaring metal prices have fueled crimes that leave historic religious buildings damaged, exposed to the elements, and facing repair costs of millions of yen.

1200-Year-Old Temple on Miyajima Reduced to Ashes

Flames broke out on the morning of May 20th on Miyajima Island in Hiroshima Prefecture, home to one of Japan's World Heritage sites, destroying Reikado Hall near the summit of Mount Misen.

From Bento Boxes to Garbage Bags, Rising Costs Hitting Daily Life Across Japan

Uncertainty surrounding the situation in the Middle East is beginning to affect daily life in Japan, as concerns over crude oil supplies spread to restaurants, cleaning services and even household garbage disposal systems across the Kansai region.

Tochigi Robbery-Murder Suspect’s Wife Posted Dance Videos on Social Media

A 25-year-old woman arrested as a suspected ringleader in a robbery-murder case in Tochigi Prefecture once posted cheerful dance videos on social media and was remembered by those who knew her as an energetic and outgoing young woman.

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