Results for the First Quarter of
the Fiscal Year Ending March 2023
July 28, 2022
Oriental Land Co., Ltd.
Results for First Three Months of FY3/23 vs. FY3/22
[¥ billion] | |||||||
Consolidated Statement of Income | FY3/22 Results | FY3/23 Results | Change | Change | |||
[1Q] | [1Q] | ||||||
Net Sales | 49.8 | 98.1 | 48.3 | 97.0% | |||
Theme Park Segment | 39.6 | 79.8 | 40.1 | 101.2% | |||
Hotel Business Segment | 7.9 | 15.6 | 7.6 | 95.7% | |||
Other Business Segment | 2.1 | 2.7 | 0.5 | 25.2% | |||
Operating Profit (Loss) | (8.8) | 17.0 | 25.8 | - | |||
Theme Park Segment | (7.5) | 2 | 15.4 | 23.0 | - | ||
Hotel Business Segment | (0.8) | 1.6 | 2.5 | - | |||
Other Business Segment | (0.4) | (0.1) | 0.2 | - | |||
Ordinary Profit (Loss) | (8.2) | 17.5 | 25.7 | - | |||
Profit (Loss) before Income Taxes | (8.2) | 17.5 | 25.7 | - | |||
Profit (Loss) Attributable to Owners of Parent | (6.0) | 12.1 | 18.1 | - | |||
Net sales increased year on year, primarily due to a rise in attendance, | |
resulting in a return to profitability | 2 |
Results for First Three Months of FY3/23 vs. FY3/22 - Main Reasons for Change
[¥ billion] | ||||
Theme Park Segment [1] | FY3/22 Results | FY3/23 Results | Change | Change |
[1Q] | [1Q] | |||
Net Sales | 39.6 | 79.8* | 40.1 | 101.2% |
*Revenue of 3.4 billion yen for expired tickets (sold by the beginning of May 2021) whose refund support ended by the end of May 2022 is recorded in net sales.
Y/Y Comparison | Main Reasons for Change | |
Attendance | Increased | Eased limit on attendance |
Limits were set on attendance in 1Q of FY3/23 in line with the Amusement Park and
Theme Park New Coronavirus Infection Containment Guidelines (revised on March 22, 2022)
[Major revision to the Guidelines] | 3 |
- The social distancing requirement was changed from "at least 1 m" to "a distance sufficient to enable people to avoid physical contact."
April
May
Before April 24
Social distancing of at least 1 m was secured while preparations to change the requirement were made in line with the revised Guidelines. The limit was therefore set at roughly at 50% of capacity.
From April 25
Eased social distancing requirement in line with the revised Guidelines.
June
Attendance increased as a result of easing limit on attendance | 3 |
Results for First Three Months of FY3/23 vs. FY3/22 - Main Reasons for Change
Y/Y Comparison | Main Reasons for Change | |
Net Sales per Guest | Increased | ||||
・Larger proportion of high-priced tickets owing to | |||||
Increased | variable pricing | ||||
・Strong performance of Tokyo Disney Resort Vacation | |||||
Attractions and Shows* [ ] | Packages | ||||
・Introduction of Disney Premier Access | |||||
Merchandise [] | Increased | ・Strong sales of products related to Tokyo DisneySea | |||
20th Anniversary | |||||
Food and Beverages [] | Increased | ・Increased dining opportunities due to expanded Park | |||
operating hours | |||||
・Resumed sales of alcoholic beverages |
Note: "Ticket receipts" applies to the FY3/22 results while "Attractions and shows" applies to FY3/23. Refer to page 10 of the Appendix for details.
Introduction of Disney Premier Access | 4 |
Tokyo Disneyland | Tokyo DisneySea | |
May | May 19- | May 19- |
●Enchanted Tale of Beauty and | ●Soaring: Fantastic Flight | |
the Beast | ||
June | Jun. 10- | |
●Toy Story Mania! | ||
©Disney |
Concept image of the screen for purchasing Disney Premier Access
Net sales per Guest increased year on year in all revenue categories | 4 |
Results for First Three Months of FY3/23 vs. FY3/22 - Main Reasons for Change
[¥ billion] | |||||
Theme Park Segment [2] | FY3/22 Results | FY3/23 Results | Change | Change | |
[1Q] | [1Q] | ||||
Net Sales | 39.6 | 79.8 | 40.1 | 101.2% | |
Operating Profit (Loss) | (7.5) | 15.4 | 23.0 | - | |
Increase in operating profit
[¥billion]
Increase in net sales | ||
Decrease in merchandise and | 1.3 | |
food/beverages cost ratio | ||
Increase in personnel expenses | (3.7) | |
YoY difference in receipt of | (2.4) | |
employment adjustment subsidy* | ||
Increase in personnel expenses for | (0.6) | |
full-time employees | ||
Increase in personnel expenses for | (0.4) | |
part-time Cast Members | ||
Others | (0.1) | |
Increase in miscellaneous costs | (1.5) | |
Increase in energy costs | (0.4) | |
Increase in maintenance costs | (0.3) | |
Other | (0.7) | |
5 |
Increase in depreciation and amortization | (0.2) |
expenses | |
Note: Increase in costs is expressed by figures in parentheses, which show by how much operating profit decreased. * The employment adjustment subsidy received (or expected to be received) is deducted from operating expenses.
Operating profit returned to the black | |
due to an increase in net sales despite a rise in costs | 5 |
This is an excerpt of the original content. To continue reading it, access the original document here.