Sunday, August 7, 2011

Q2 2011 - Tokyo Disneyland Sales Plunge 43% post earthquake

Tokyo Disneyland operator Oriental Land Co. said Thursday it posted a consolidated net loss of 3.80 billion yen for the April to June quarter, remaining in the red for the second quarter in a row, as it closed the amusement park and other facilities for more than a month due to damage caused by the March 11 earthquake and tsunami. 

Oriental Land said its sales plunged 43.0 percent from a year earlier to 48.55 billion yen, due to a more than 40 percent drop in its amusement park and hotel business segments.

Visitors to Tokyo Disneyland and DisneySea in Chiba Prefecture during the first quarter of fiscal 2011 declined from the previous year, but Oriental Land said the number of customers has now recovered to its usual level.

Due to the suspension of the parks and facilities at Tokyo Disney Resort, the company posted an extraordinary loss of 3.82 billion yen including fixed labor costs during the three-month period.

The company expects an extraordinary loss of 2.14 billion yen for the July-September second quarter due to costs associated with ceasing staging of the Canadian performing art troupe Cirque du Soleil's entertainment show at the entertainment complex at the end of this year.

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