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.

Year-End Chaos in Shibuya: Street Drinking, Brawls, and Ambulance Dispatches

The streets of Shibuya became a chaotic scene during the year-end party season, with excessive drinking leading to public disorder. People were found sleeping on the streets, fights broke out among groups of young revelers, and police and emergency services were frequently called to intervene.

New Japanese Passport Applications to Go Online

The Ministry of Foreign Affairs has unveiled a new passport design set to be issued from March next year. The new system will allow online applications not only for renewals but also for new passport requests. Submitting an original family register certificate will no longer be required for online applications.

Future of Solar Power: Japan's Breakthrough Technology

The next generation of solar cells, known as perovskite solar panels, are ultra-thin, lightweight, and bendable. The Japanese government has set a goal of achieving the equivalent of the energy output from 20 nuclear reactors with perovskite solar cells by 2040. With their use set to expand in various locations next year, 2024 is being called "the dawn of domestic perovskite."

Record 7,000 Teachers in Japan on Leave Due to Mental Health

The number of teachers taking mental health leave reached a record high of 7,119 in the 2023 fiscal year at public schools across Japan.

Japan Reports 60% Rise in Non-Consensual Intercourse Cases

Japan's Ministry of Justice has released this year’s crime white paper, revealing that the number of recognized penal code offenses increased for the second consecutive year.

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Santa Drops Presents Over Southern Islands

Santa takes to the skies, delivering presents to southern islands. From the rear of an open transport aircraft, boxes equipped with parachutes descend to the ground, marked by the glow of a blue light. These deliveries, bringing joy to residents of remote islands in the South Pacific, are part of an international joint exercise involving Japan's Air Self-Defense Force since 2015.

Japan Reports 60% Rise in Non-Consensual Intercourse Cases

Japan's Ministry of Justice has released this year’s crime white paper, revealing that the number of recognized penal code offenses increased for the second consecutive year.

Suspect Nabbed Following Brutal Kitakyushu Stabbings

Police in Kitakyushu have arrested Masanori Hirahara, a 43-year-old unemployed man living near the crime scene, on suspicion of attempted murder in connection with the stabbing of two junior high school students at a fast-food restaurant.

Drug Shortages Worsen as Influenza Surges Across Japan

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Skeleton Found in Author's 'Garbage House'

Police have arrested Takashima Nozomu, a 64-year-old author on suspicion of leaving a body in his apartment in Shinagawa, Tokyo.

Elderly Woman Stabbed at Kobe Subway Station

An elderly woman was stabbed by another woman inside Kobe’s Sannomiya subway station, leading to the suspect’s arrest at the scene on charges of attempted murder.

Japan to Accept Unusual Baby Names

Japanese 'kira-kira names,' with atypical pronunciation or meaning, could soon be partially accepted under certain conditions, according to proposed guidelines from Japan's Ministry of Justice.

Grief and Anxiety Grow After Fatal Kitakyushu Stabbing

The mourning ceremony for 15-year-old Nakashima Saya, who was fatally stabbed at a fast-food restaurant in Kitakyushu City, was held on Tuesday. The attack, which took place four days ago, left Nakashima dead and a male student seriously injured with a deep wound near his waist. Police continue to search for the suspect, who fled the scene immediately after the attack.

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