Oriental Land : Results for the First Quarter of the Fiscal Year Ending March 2022

Results for the First Quarter of

the Fiscal Year Ending March 2022

July 29, 2021

Oriental Land Co., Ltd.

Kenji Yoshida

Representative Director,

President and COO

Park Operations during the First Quarter of FY3/22

April

May

June

Apr. 20 Applied to Chiba Prefecture by the Japanese government [until May 11]

Quasi-State of

Apr. 28 Strengthened

May 7 Extended [until May 31]

Emergency

May 28 Re-extended [until June 20]

17 Re-extended

Jun.

again [until Jul. 11]

Maximum

Apr. 1‒18

Apr. 20-

attendance at

20,000

5,000

Note: As tickets already sold were valid, attendance exceeded the limit on some days.

each Park

[in principle]

Apr. 19 50% of capacity at maximum

Apr. 1 "Fantasyland Forest Theatre" opened at Tokyo Disneyland; "Big Band Beat" show resumed at Tokyo DisneySea

Apr. 1‒

Early Entry Tickets offered on a trial basis to

May 16

Guests staying at Disney Hotels

2

New initiatives

Oct. 1, 2020

Alcoholic beverages sold

Note: We had planned to continue the trial sales until July 30, but suspended them from April 28

‒Apr. 27

at Tokyo Disneyland on

in response to a request from the Chiba prefectural government to cooperate with the

that contribute

a trial basis

strengthened quasi-state of emergency.

to increasing

Apr. 5‒Jun. 30

"Happy Fair with Baymax" implemented at Tokyo Disneyland

experience

Apr. 19 "Dreaming Up!" daytime parade resumed at Tokyo Disneyland

value and net

Apr. 19‒25

Restaurant mobile order service implemented on a trial basis

sales

May 12‒

Special version of "Mickey & Friends Harbor Greeting"

Jun. 30

featuring "usapiyos" presented at Tokyo DisneySea.

Jun. 1‒

"Duffy and Friends' Sunny Fun"

Sep. 2

implemented at Tokyo DisneySea

Introduced measures to contribute to enhancing Guests'
Experience value and net sales while limiting attendance	22

Results for the First Quarter of FY3/22 / FY3/21

							[Billion yen]
Consolidated Statement of Income	FY3/21 Results	FY3/22 Results		Change	Change
[1Q]	[1Q]
Net Sales		6.1	49.8		43.6	708.2%
	Theme Park Segment		5.1	39.6		34.5	674.5%
	Hotel Business Segment	0.1	7.9		7.8	-
	Other Business Segment	0.8	2.1		1.2	141.9%
Operating Profit (Loss)		(15.6)	(8.8)		6.8	-
	Theme Park Segment		(11.4)	(7.5)		3.9	-
		Consolidated Statement	of Income
			2.3	-
	Hotel Business Segment	(3.1)	(0.8)
				3
	Other Business Segment	(1.0)		0.5	-
	(0.4)
Ordinary Profit (Loss)		(15.2)	(8.2)		7.0	-
Extraordinary Loss		21.1	-		(21.1)	-
Profit (Loss) before Income Taxes	(36.4)	(8.2)		28.2	-
Profit (Loss) Attributable to Owners of Parent	(24.8)	(6.0)		18.8	-

Despite limits set on attendance, net sales grew and operating loss decreased year on year, primarily due to the low base of comparison resulting from the temporary closure of both Parks in the same period of the previous fiscal year 33

Results for the First Quarter of FY3/22 / FY3/21: Net Sales for Theme Park Segment

				[Billion yen]
Theme Park Segment [1]	FY3/21 Results [1Q]	FY3/22 Results [1Q]	Change	Change
Net Sales	5.1	39.6	34.5	674.5%

As Tokyo Disneyland and Tokyo DisneySea were temporarily closed during the first quarter of FY 3/21, there is no data for attendance and net sales per Guest.

Increase in net sales

・Increase due to temporary Park closure in the same period of the previous fiscal year

---------------Reference---------------

Net sales per Guest			4
Comparison with FY3/21 Results	FY3/21 Results	FY3/22 Results [1Q]	Primary reasons for change
		13,642	increased
Net Sales per Guest [ ]
Ticket Receipts	6,538	increased	Introduction of variable pricing, etc.
Merchandise	4,122	increased	Strong sales of new products
related to Duffy, etc.
Food and Beverages	2,982	increased	Strong sales of food souvenir items,
etc.

Parks were temporarily closed in the same period of
the previous fiscal year. Net sales per Guest were strong	44

Results for the First Quarter of FY3/22 / FY3/21: Operating Loss for Theme Park Segment

				[Billion yen]
Theme Park Segment [2]	FY3/21 Results	FY3/22 Results	Change	Change
[1Q]	[1Q]
Net Sales	5.1	39.6	34.5	674.5%
Operating Profit (Loss)	(11.4)	(7.5)	3.9	-

Decrease in operating loss

					[Billion yen]
Increase in net sales			Increase in miscellaneous costs		(2.9)
Increase in personnel expenses	(9.2)		Transfer to extraordinary loss in 1Q of FY
				3/21, etc.
	Transfer to extraordinary loss in 1Q of FY
			5
3/21			Increase in depreciation and amortization	(8.5)
				expenses
	Receipt of employment adjustment
	subsidy*, etc.			Transfer to extraordinary loss in 1Q of FY
			3/21

Increase due to new asset acquisition, etc.

Notes: Increase in costs is expressed by figures in brackets, which show by how much operating loss was increased.

Impact of merchandise and food/beverages cost ratio is not presented above as a major factor behind the change in operating loss, given that the ratio cannot be calculated owing to the temporary Park closure.

* The employment adjustment subsidy excluding the portion received (or expected to be received) due to the temporary closure is deducted from operating expenses.

Each item of cost increased year on year as costs had been transferred

to extraordinary loss in the same period of the previous year, but operating loss

was reduced owing to an increase in net sales

55