Tokyo Disneyland operator logs 1st annual loss due to pandemic

Apr 29, 2021 | News On Japan

Apr 29, 2021 (Kyodo) - Tokyo Disney Resort operator Oriental Land Co. on Wednesday reported a loss for the year ended March, its first annual red ink since listing in 1996, due to record-low visitor numbers as a result of the temporary closure of its theme parks and subsequent capacity limits amid the coronavirus pandemic.

The total number of visitors to the Disney theme parks was 7.56 million, compared with 9.93 million in fiscal 1983 when Tokyo Disneyland opened. Oriental Land closed Tokyo Disneyland and DisneySea for four months from late February and after operations resumed daily visitors were limited for a period to fewer than 5,000 at each theme park.

The company logged a net loss of 54.19 billion yen ($497 million), compared with a profit of 62.22 billion yen in the previous year. Sales stood at 170.58 billion yen, down 63.3 percent from a year earlier.

Leisure and entertainment companies in Japan have been shackled by the spread of the virus and government declarations of states of emergency that discourage nonessential outings.

Source: ANNnewsCH

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