Supplementary Materials: Results for the Fiscal Year Ended March 31,2021 (April 1,2020 through March 31,2021)

April 28, 2021

Supplementary Materials:

Results for the Fiscal Year Ended March 31, 2021

(April 1, 2020 through March 31, 2021)

Table of Contents

■ Results for the Fiscal Year Ended March 31, 2021

1.	Consolidated Balance Sheets	1
(Actual Fiscal Year/Previous Fiscal Year)
2.	Consolidated Statements of Income	3
(Actual Fiscal Year/Previous Fiscal Year)
0 3.	Consolidated Statements of Income	5
(Actual Fiscal Year/Forecast in October 2020)
■ Capital Expenditures / Depreciation and Amortization	7
■ Appendix
4. Quarterly Consolidated Statements of Income	9
(Actual/Previous Results for the First Quarter)
5. Quarterly Consolidated Statements of Income	11
(Actual/Previous Results for the Second Quarter)
6. Quarterly Consolidated Statements of Income	13
(Actual/Previous Results for the Third Quarter)
7. Quarterly Consolidated Statements of Income	15
(Actual/Previous Results for the Fourth Quarter)

http://www.olc.co.jp/en/

1. Consolidated Balance Sheets (Actual Fiscal Year/Previous Fiscal Year)

												(Millions of yen)
				Items	3/20		3/21		Change (decrease)
					(As of March 31, 2020)		(As of March 31, 2021)
							Amount	%		Amount	%	Amount		%
				ASSETS
	I.			Current assets
				Cash and deposits	261,164		197,317		(63,847)			①
				Notes and accounts receivable-trade	7,225		12,040		4,815
				Securities	19,999		33,495		13,495			②
				Inventories	20,088		21,531		1,442
				Other	8,262		9,749		1,486
				Total current assets	316,741	31.3	274,134	26.3	(42,607)		(13.5)
	II.			Non-current assets
		Property, plant and equipment
				Buildings and structures, net	291,012		315,411		24,398
				Machinery, equipment and vehicles, net	34,557		47,849		13,291
				Land	117,653		115,890		(1,763)
				Construction in progress	152,165		165,344		13,179
				Other, net	15,197		21,063		5,865
				Total property, plant and equipment	610,586	60.4	665,557	64.0	54,971		9.0
		Intangible assets
				Other	16,334		17,111		777
				Total intangible assets	16,334	1.6	17,111	1.7	777		4.8
		Investments and other assets
				Investment securities	46,925		49,601		2,675
				Long-term prepaid expenses	1,489		1,110		(378)
				Other	18,574		32,949		14,375			③
				Total investments and other assets	66,989	6.7	83,662	8.0	16,672		24.9
				Total non-current assets	693,910	68.7	766,331	73.7	72,421		10.4
	Total assets	1,010,651	100.0	1,040,465	100.0	29,814		2.9	Ａ
				LIABILITIES
	I.			Current liabilities
				Notes and accounts payable-trade	13,921			9,072		(4,849)
				Current portion of bonds payable		-			30,000		30,000			④
				Current portion of long-term loans payable		4,580			3,859		(720)
				Income taxes payable		7,991			9,023		1,031
				Other		74,001			69,414		(4,586)			⑤
				Total current liabilities		100,495	9.9		121,370	11.7	20,874		20.8
	II.			Non-current liabilities
				Bonds payable	80,000			150,000		70,000			⑥
				Long-term loans payable	2,488			2,364		(123)
				Retirement benefit liability	3,537		3,030		(506)
				Other	3,873			3,752		(120)
				Total non-current liabilities	89,898	8.9		159,147	15.3	69,248		77.0
				Total liabilities	190,394	18.8		280,517	27.0	90,122		47.3	Ｂ
				NET ASSETS
	I.			Shareholders' equity
				Capital stock		63,201	6.2		63,201	6.1	-
				Capital surplus		111,970	11.1		112,001	10.8	30
				Retained earnings		744,452	73.7		678,792	65.2	(65,660)			⑦
				Treasury shares		(109,325)	(10.8)		(108,771)	(10.5)	553
				Total shareholders' equity		810,298	80.2		745,223	71.6	(65,075)		(8.0)
	II.			Accumulated other comprehensive income
				Valuation difference on available-for-sale securities		9,623	1.0		12,449	1.2	2,826
				Deferred gains or losses on hedges	74	0.0	137	0.0	63
				Remeasurements of defined benefit plans		261	0.0		2,137	0.2	1,876
				Total accumulated other comprehensive income		9,958	1.0		14,724	1.4	4,766		47.9
				Total net assets		820,257	81.2		759,948	73.0	(60,308)		(7.4)	Ｃ
	Total liabilities and net assets		1,010,651	100.0		1,040,465	100.0	29,814		2.9

1

[A. ¥29.8 Billion (2.9%) Increase in Assets]

I. ¥42.6 Billion Decrease in Current Assets			II. ¥72.4 Billion Increase in Non-current Assets
(1)	Decrease in cash and deposits	¥(63.8 billion) …①	(1)	Increase in capital expenditures	¥108.3 billion
(2)	Increase in securities	¥13.4 billion …②	(2)	Decrease in depreciation and amortization	¥(45.8 billion)
				(3)	Increase due to deferred tax	¥12.1 billion …③

[Amount of Increase/Decrease in Non-current Assets]	(Millions of yen)
		Items	Amount
Amount of increase/decrease in facilities	55,370
	Capital expenditures	108,322
		Theme Park Segment	77,795
		Hotel Business Segment	26,716
		Other Business Segment	3,811
		Elimination from consolidation	-
	Removal, etc.	(7,052)
	Depreciation and amortization	(45,899)
Amount of increase/decrease in investment securities and other assets	17,050
		Total	72,421

[B. ¥90.1 Billion (47.3%) Increase in Liabilities]

	I. ¥20.8 Billion Increase in Current Liabilities				II. ¥69.2 Billion Increase in Non-current Liabilities
	(1) Increase in current portion of bonds		¥30.0 billion …④		(1) Increase in bonds payable	¥70.0 billion …⑥
	(2) Decrease in accounts payable-other		¥(11.1 billion) …⑤
	【Breakdown of Interest-Bearing Debt】			(Millions of yen)
	Items		3/20	3/21		Change
	Current portion of bonds payable		-	30,000		30,000
	Current portion of long-term loans		4,580	3,859		(720)
	payable
	Bonds payable		80,000	150,000		70,000
	Long-term loans payable		2,488	2,364		(123)
	Total		87,069	186,224		99,155

[C. ¥60.3 Billion (7.4%) Decrease in Net Assets]

(1) Decrease in retained earnings	¥(65.6 billion) …⑦
・ Decrease in profit attributable to owners of parent	¥(54.1 billion)
・ Decrease due to cash dividends	¥(11.4 billion)

2

2. Consolidated Statements of Income (Actual Fiscal Year/Previous Fiscal Year)

								(Millions of yen)
			Items	3/20		3/21		Change (decrease)
			(Fiscal Year ended March 31, 2020)	(Fiscal Year ended March 31, 2021)
				Amount	%	Amount	%	Amount		%
			Net sales	464,450	100.0	170,581	100.0	(293,869)		(63.3)	A
			Theme Park Segment	384,031	82.7	134,293	78.7	(249,737)		(65.0)	①
			Hotel Business Segment	64,375	13.9	28,627	16.8	(35,747)		(55.5)	②
			Other Business Segment	16,043	3.4	7,660	4.5	(8,383)		(52.3)	③
			Cost of sales	300,601	64.7	169,678	99.5	(130,922)		(43.6)
			Personnel expenses	75,062		45,639		(29,422)
			Other expenses	194,177		92,112		(102,064)
			Depreciation and amortization	31,361		31,926		564
			Gross profit	163,849	35.3	902	0.5	(162,946)		(99.4)
			Selling, general and administrative	66,986	14.4	46,891	27.5	(20,094)		(30.0)
			expenses
			Personnel expenses	25,240		18,720		(6,519)
			Other expenses	36,346		23,409		(12,936)
			Depreciation and amortization	5,398		4,761		(637)
			Operating profit	96,862	20.9	(45,989)	(27.0)	(142,852)		-	B
			Theme Park Segment	79,660	17.1	(41,982)	(24.6)	(121,643)		-	④
			Hotel Business Segment	14,769	3.2	(1,954)	(1.1)	(16,723)		-	⑤
			Other Business Segment	2,161	0.5	(2,312)	(1.4)	(4,474)		-	⑥
			(Elimination and Corporate)	271	0.1	260	0.1	(11)		(4.2)
			Non-operating income	2,582	0.5	1,833	1.2	(749)		(29.0)
			Non-operating expenses	1,382	0.3	5,049	3.0	3,666		265.2
			Ordinary profit	98,062	21.1	(49,205)	(28.8)	(147,268)		-
			Extraordinary income
			Gain on sales of investment securities	341	0.1	-	-	(341)		-
			Total extraordinary income	341	0.1	-	-	(341)		-
			Extraordinary losses
			Loss on temporary closure	9,270	2.0	12,965	7.6	3,694		39.9
			Impairment losses	-	-	5,633	3.3	5,633		-
			Total extraordinary losses	9,270	2.0	18,598	10.9	9,328		100.6	⑦
			Profit before income taxes	89,133	19.2	(67,804)	(39.7)	(156,938)		-
			Income taxes-current	25,048	5.4	479	0.4	(24,568)		(98.1)
			Income taxes-deferred	1,868	0.4	(14,092)	(8.3)	(15,960)		-
			Total income taxes	26,916	5.8	(13,613)	(7.9)	(40,529)		-
			Profit	62,217	13.4	(54,190)	(31.8)	(116,408)		-
			Profit attributable to owners of parent	62,217	13.4	(54,190)	(31.8)	(116,408)		-	Ｃ

3

[A. ¥293.8 Billion (63.3%) Decrease in Net Sales]			(Millions of yen)
	Items	3/20	3/21	Change	Change (%)	Primary reasons for change
	① Theme Park Segment	384,031	134,293	(249,737)	(65.0)
	Attractions and shows	179,965	66,938	(113,027)	(62.8)
	Merchandise	126,822	41,579	(85,243)	(67.2)	・Decrease due to the temporary closure of both Parks
	・Decrease by limited Theme Park attendance
	Food and beverages	70,815	22,642	(48,172)	(68.0)
	Others	6,428	3,133	(3,294)	(51.3)
	② Hotel Business Segment	64,375	28,627	(35,747)	(55.5)
	Disney Hotels*1	56,799	25,571	(31,228)	(55.0)	・Decrease due to the temporary closure of hotels
	・Decrease in accommodation revenue due to limited number of rooms sold
	Other Hotels	7,575	3,056	(4,519)	(59.7)
	③ Other Business Segment	16,043	7,660	(8,383)	(52.3)
	Ikspiari	6,175	4,272	(1,903)	(30.8)	･Decrease in Monorail Business due to the temporary closure of both Parks
	Monorail	4,767	1,019	(3,748)	(78.6)	・Decrease in Monorail Business due to limited Theme Park attendance
	・Decrease due to the temporary closure of Ikspiari Business
	Others	5,100	2,368	(2,731)	(53.6)
	*1 Including Disney Ambassador Hotel, Tokyo DisneySea Hotel MiraCosta, Tokyo Disneyland Hotel and Tokyo Disney Celebration Hotel.
	[Theme Park Information]
	Items	3/20	3/21	Change	Change (%)	Primary reasons for change
	Attendance (thousand people)	29,008	7,560	(21,449)	(73.9)	・Decrease due to temporary closure of both Parks
	・Decrease by limited Theme Park attendance
	Net sales per Guest (yen)	11,606	13,642	2,036	17.5
	Ticket receipts	5,292	6,538	1,246	23.5	・Increase due to restriction on ticket types with limited Theme Park attendance
	・Increase due to ticket price revision
	Merchandise	3,877	4,122	245	6.3	・Temporary increase due to growth in demand after reopening
	・Increase in products related to newly-opened area
	Food and beverages	2,437	2,982	545	22.4	・Increase due to ample dining opportunities with limited Theme Park attendance
	・Increase in souvenir products related to newly-opened area
[B. ¥142.8 Billion Decrease in Operating Profit]			(Millions of yen)
	Items	3/20	3/21	Change	Change (%)	Primary reasons for change
						・Decrease in net sales
						・Increase in merchandise and food/beverages sales cost ratio
						[¥(19.6 billion)]*2 *3
						・Decrease in personnel expenses [¥30.2 billion]
						-Transfer to extraordinary loss [¥7.1 billion]
						-Decrease due to employment adjustment subsidy [¥7.2 billion]*3
						-Decrease in personnel expenses for part-time employees [¥8.7 billion]
						-Decrease in personnel expenses for full-time employees [¥4.5 billion]
	④ Theme Park Segment					-Other [¥2.7 billion]
	79,660	(41,982)	(121,643)	-	・Decrease in miscellaneous costs [¥25.4 billion]
						-Transfer to extraordinary loss [¥2.1 billion]
						-Decrease in sales promotion costs [¥4.5 billion]
						-Decrease in maintenance costs [¥4.4 billion]
						-Decrease in costs related to special events [¥4.1 billion]
						-Decrease in costs related to entertainment [¥2.3 billion]
						-Other [¥8.0 billion]
						・Increase in depreciation and amortization expenses [¥(0.3 billion)]
						-Transfer to extraordinary loss [¥4.5 billion]
						-Increase due to acquisition of new assets [¥(4.8 billion)]
						・Decrease in net sales
						・Decrease in personnel expenses [¥4.6 billion]*3
						-Transfer to extraordinary loss, decrease in performance bonus, etc.
	⑤ Hotel Business Segment	14,769	(1,954)	(16,723)	-	・Decrease in miscellaneous costs
						-Decrease in costs during closure, transfer to extraordinary loss, etc.
						・Decrease in depreciation and amortization expenses [¥0.8 billion]
						-Transfer to extraordinary loss, etc.
	⑥ Other Business Segment	2,161	(2,312)	(4,474)	-	・Decrease in net sales
	・Decrease in miscellaneous costs, etc.

*2 Since the impact of the increase in the merchandise and food/beverage cost ratio in the first quarter (April to June) cannot be calculated due to the temporary closure of the Parks, it is not stated on the primary reasons for change in operating profit in the first quarter on page 10.

*3 Of the employment adjustment subsidy received due to the COVID-19 pandemic, the amount received (including the estimated amount to be received) for reasons other than the temporary closure of our Parks was deducted from operating expenses.

[C. ¥116.4 Billion Decrease in Profit Attributable to Owners of Parent]

⑦ Increase in Extraordinary Loss					(Millions of yen)
Items	3/20	3/21	Change	Change (%)	Primary reasons for change
					・Transfer from personnel expenses [¥(2.1 billion)]*4
					-Part of personnel expenses incurred during temporary closure in FY3/20
					[¥(2.9 billion)]
					-Part of personnel expenses incurred during temporary closure in FY3/21
					[¥0.8 billion]
					・Transfer from miscellaneous costs [¥2.1 billion]
					-Outsourcing, fixed asset tax during temporary closure in FY3/20, etc.
					[¥(0.8 billion)]
Theme Park Segment					-Outsourcing, fixed asset tax during temporary closure in FY3/21, etc.
9,270	11,802	2,532	27.3	[¥3.0 billion]
					・Transfer from depreciation and amortization expenses [¥4.5 billion]
					-Depreciation and amortization expenses during temporary closure in FY3/20
					[¥(2.6 billion)]
					-Depreciation and amortization expenses during temporary closure in FY3/21
					[¥7.2 billion]
					・Personnel expenses in costs of food and beverages*4, disposal of
					merchandise and raw material, etc. [¥(1.9 billion)]
					-For FY3/20 [¥(2.6 billion)]
					-For FY3/21 [¥0.6 billion]
					・Recording of impairment loss [¥5.6 billion]
					・Transfer from personnel expenses [¥(0.2 billion)]*4
					-Part of personnel expenses incurred during temporary closure
Hotel Business Segment	-	6,532	6,532	-	・Transfer from miscellaneous costs [¥0.3 billion]
					-Fixed asset tax during temporary closure
					・Transfer from depreciation and amortization expenses [¥0.7 billion]
					-Depreciation and amortization expenses during temporary closure
Other Business Segment	-	264	264	-	・Transfer from depreciation and amortization expenses [¥0.1 billion]
					-Depreciation and amortization expenses during temporary closure of Ikspiari, etc.

*4 As the employment adjustment subsidy to be received from the government as a special measure to address the impact of COVID-19, highly accurate amount to be received is reasonably calculated, and has been deducted from the extraordinary loss in each business segment.

4

3. Consolidated Statements of Income (Actual Fiscal Year/Forecast in October 2020)

									(Millions of yen)
			Items	Forecast in Oct. 2020	Actual Results		Change (decrease)
			(Fiscal Year ended March 31, 2021)	(Fiscal Year ended March 31, 2021)
				Amount	%	Amount		%	Amount	%
			Net sales	185,460	100.0	170,581		100.0	(14,878)	(8.0)	A
			Theme Park Segment	152,440	82.2	134,293		78.7	(18,146)	(11.9)	①
			Hotel Business Segment	25,130	13.5	28,627		16.8	3,497	13.9	②
			Other Business Segment	7,890	4.3	7,660		4.5	(229)	(2.9)	③
			Cost of sales	188,510	101.6	169,678		99.5	(18,831)	(10.0)
			Gross profit	(3,050)	(1.6)	902		0.5	3,952	-
			Selling, general and administrative	48,350	26.1	46,891		27.5	(1,458)	(3.0)
			expenses
			Operating profit	(51,400)	(27.7)	(45,989)		(27.0)	5,410	-	B
			Theme Park Segment	(43,110)	(23.2)	(41,982)		(24.6)	1,127	-	④
			Hotel Business Segment	(5,970)	(3.2)	(1,954)		(1.1)	4,015	-	⑤
			Other Business Segment	(2,580)	(1.4)	(2,312)		(1.4)	267	-	⑥
			(Elimination and Corporate)	260	0.1	260		0.1	0	0.0
			Non-operating income	1,970	1.0	1,833		1.2	(136)	(6.9)
			Non-operating expenses	4,460	2.4	5,049		3.0	589	13.2
			Ordinary profit	(53,890)	(29.1)	(49,205)		(28.8)	4,684	-
			Extraordinary losses
			Loss on temporary closure	13,333	7.2	12,965		7.6	(367)	(2.8)
			Impairment losses	-	-	5,633		3.3	5,633	-
			Total extraordinary losses	13,333	7.2	18,598		10.9	5,265	39.5	⑦
			Profit before income taxes	(67,230)	(36.3)	(67,804)		(39.7)	(574)	-
			Income taxes	(16,120)	(8.7)	(13,613)		(7.9)	2,506	-
			Profit	(51,110)	(27.6)	(54,190)		(31.8)	(3,080)	-
			Profit attributable to owners of parent	(51,110)	(27.6)	(54,190)		(31.8)	(3,080)	-	Ｃ

Note: Although the forecast for the fiscal year ended March 2021 is disclosed in units of 10 million yen, the extraordinary loss shows the actual results for the first half.

5

[A. ¥14.8 Billion (8.0%) Decrease in Net Sales]			(Millions of yen)
		Items	Forecast	Actual	Change	Change (%)	Primary reasons for change
		in Oct.	Results
	① Theme Park Segment	152,440	134,293	(18,146)	(11.9)
		Attractions and shows	77,800	66,938	(10,861)	(14.0)
							・Decrease by limited Theme Park attendance
		Merchandise	44,700	41,579	(3,120)	(7.0)
		Food and beverages	27,060	22,642	(4,417)	(16.3)
		Others	2,880	3,133	253	8.8
	② Hotel Business Segment	25,130	28,627	3,497	13.9
							・Increase in accommodation revenue
		Disney Hotels*1	22,320	25,571	3,251	14.6
		Other Hotels	2,810	3,056	246	8.8
	③ Other Business Segment	7,890	7,660	(229)	(2.9)
		Ikspiari	4,360	4,272	(87)	(2.0)	･Decrease in Monorail Business due to limited Theme Park attendance
		Monorail	1,260	1,019	(240)	(19.1)
		Others	2,270	2,368	98	4.3
		*1 Including Disney Ambassador Hotel, Tokyo DisneySea Hotel MiraCosta, Tokyo Disneyland Hotel and Tokyo Disney Celebration Hotel.
	[Theme Park Information]
		Items	Forecast	Actual	Change	Change (%)	Primary reasons for change
		in Oct.	Results
	Attendance (thousand people)	9,500	7,560	(1,940)	(20.4)	・Decrease by limited Theme Park attendance
	Net sales per Guest (yen)	12,710	13,642	932	7.3
		Ticket receipts	6,250	6,538	288	4.6	・Increase due to changes in composition ratio of ticket sales
		Merchandise	3,620	4,122	502	13.9	・Increase in regular products
		Food and beverages	2,840	2,982	142	5.0	・Increase in souvenir products related to newly-opened area
[B. ¥5.4 Billion Increase in Operating Profit]			(Millions of yen)
		Items	Forecast	Actual	Change	Change (%)	Primary reasons for change
		in Oct.	Results
							・Decrease in net sales
							・Decrease in merchandise and food/beverages sales cost ratio
							[about ¥0.5 billion]*2 *3
							・Decrease in personnel expenses [about ¥7.0 billion]
							-Decrease due to employment adjustment subsidy [¥3.2 billion]*3
	④ Theme Park Segment	(43,110)	(41,982)	1,127	-	-Decrease in personnel expenses for part-time employees [about ¥2.0 billion]
	-Decrease in personnel expenses for full-time employees [about ¥1.5 billion], etc.
							・Decrease in miscellaneous costs [about ¥5.5 billion]
							-Decrease in maintenance costs [about ¥3.0 billion]
							-Decrease in energy costs [about ¥0.5 billion]
							-Other [about ¥2.0 billion]
							・Decrease in depreciation and amortization expenses [¥0.3 billion]
							・Decrease in net sales
	⑤ Hotel Business Segment					・Decrease in personnel expenses [about ¥1.0 billion]*3
	(5,970)	(1,954)	4,015	- -Decrease due to employment adjustment subsidy, etc.
							・Decrease in miscellaneous costs
							-Decrease in maintenance costs, etc.
	⑥ Other Business Segment	(2,580)	(2,312)	267	-	・Decrease in net sales
	・Decrease in miscellaneous costs, etc.

*2 Since the impact of the increase in the merchandise and food/beverage cost ratio in the first quarter (April to June) cannot be calculated due to the temporary closure of the Parks, it is not stated on the primary reasons for change in operating profit in the first quarter on page 10.

*3 Of the employment adjustment subsidy received due to the COVID-19 pandemic, the amount received (including the estimated amount to be received) for reasons other than the temporary closure of our Parks was deducted from operating expenses.

[C. ¥3.0 Billion Decrease in Profit Attributable to Owners of Parent]

⑦ Increase in Extraordinary Loss

・Impairment loss in Brighton Hotel business in Hotel Business Segment	¥5.6 billion
・Other	¥(0.3 billion)

6

Capital Expenditures / Depreciation and Amortization

1. Capital Expenditures

(Property, plant and equipment, Intangible assets, Long-term prepaid expenses)

Results for the FY ended March 31, 2021 / Results for the FY ended March 31, 2020	(Billions of yen)
	Items	3/20 Results	3/21 Results	Change	Primary reasons for change
Theme Park Segment	129.9	77.7	(52.1)
	Tokyo Disneyland	56.7	11.6	(45.0)	Decrease in Tokyo Disneyland Large-Scale Development,
	multistory parking space
	Tokyo DisneySea	39.2	44.9	5.6	Increase due to development of Tokyo DisneySea Large-Scale Expansion
	Project
	Others	33.9	21.1	(12.7)	Decrease in Tokyo DisneySea Large-Scale Expansion Project
Hotel Business Segment	5.1	26.7	21.5	Increase due to development of Tokyo Disney Resort Toy Story Hotel,
Tokyo DisneySea Large-Scale Expansion Project
Other Business Segment	4.6	3.8	(0.7)
(Elimination and Corporate)	(0.0)	-	0.0
	Total	139.6	108.3	(31.3)

2. Depreciation and Amortization

(Property, plant and equipment, Intangible assets, Long-term prepaid expenses)

Results for the FY ended March 31, 2021 / Results for the FY ended March 31, 2020	(Billions of yen)
	Items	3/20 Results	3/21 Results	Change	Primary reasons for change
Theme Park Segment	30.5	30.8	0.3
	Tokyo Disneyland	9.8	14.0	4.1	Increase due to development of Tokyo Disneyland Large-Scale Development
					Transfer to extraordinary loss and non-operating expenses
	Tokyo DisneySea	13.0	9.8	(3.2)	Transfer to extraordinary loss and non-operating expenses
	Others	7.5	7.0	(0.5)
Hotel Business Segment	3.8	3.0	(0.8)
Other Business Segment	2.3	2.7	0.3
(Elimination and Corporate)	(0.0)	(0.0)	(0.0)
	Total	36.7	36.6	(0.0)

Note: Depreciation and amortization figures exclude depreciation and amortization recorded as non-operating expenses and extraordinary loss.

Outlook for the Fiscal Year Ending March 31, 2021

In view of the application of the "priority measures to prevent the spread of disease" to Urayasu City, Chiba Prefecture, and the opaque external environment ahead, it is difficult to formulate a highly accurate financial forecast of results for FY3/22. We will therefore disclose our forecast when circumstances change for the better. For the fiscal year ending March 31, 2022, we project capital expenditure to be in the ¥130 billion range and depreciation and amortization expenses to be in the ¥45 billion range.

Note: The depreciation method, mainly for tangible assets of Tokyo Disneyland will be changed from declining- balance to straight-line effective from the fiscal year ending March 31, 2022.

Notes for Theme Parks Event Calendar for the Fiscal Year Ending March 2022

Events for the fiscal year ending March 2022 are not yet decided at this moment.

Information will be announced when it is determined.

7

Appendix

8

4. Quarterly Consolidated Statements of Income (Actual /Previous Results for the First Quarter)

										(Millions of yen)
				Three months		Three months		Change (Decrease)
		Items		ended June 30, 2019		ended June 30, 2020
		(Apr. 1, 2019 to Jun. 30, 2019)	(Apr. 1, 2020 to Jun. 30, 2020)
				Amount		%	Amount		%	Amount		%
		Net sales	120,552		100.0	6,164		100.0	(114,387)		(94.9)	A
		Theme Park Segment	100,179		83.1	5,123		83.1	(95,055)		(94.9)	①
		Hotel Business Segment	16,420		13.6	147		2.4	(16,273)		(99.1)	②
		Other Business Segment	3,952		3.3	893		14.5	(3,059)		(77.4)	③
		Cost of sales	72,269		59.9	12,963		210.3	(59,306)		(82.1)
		Personnel expenses	18,975			4,176			(14,799)
		Other expenses	45,656			8,184			(37,472)
		Depreciation and amortization	7,637			602			(7,034)
		Gross profit	48,282		40.1	(6,798)		(110.3)	(55,081)		-
		Selling, general and administrative expenses	16,345		13.6	8,843		143.4	(7,502)		(45.9)
		Personnel expenses	6,299			3,883			(2,416)
		Other expenses	8,733			4,380			(4,352)
		Depreciation and amortization	1,312			579			(733)
		Operating profit	31,936		26.5	(15,641)		(253.7)	(47,578)		-	B
		Theme Park Segment	27,182		22.6	(11,439)		(185.6)	(38,622)		-	④
		Hotel Business Segment		3,784		3.1	(3,198)		(51.9)	(6,982)		-	⑤
		Other Business Segment		911		0.8	(1,035)		(16.8)	(1,947)		-	⑥
		(Elimination and corporate)		57		0.0	31		0.6	(25)		(44.9)
		Non-operating income		1,086		0.9	753		12.2	(332)		(30.6)
		Non-operating expenses		260		0.2	395		6.4	134		51.8
		Ordinary profit		32,762		27.2	(15,283)		(247.9)	(48,045)		-
		Extraordinary losses		-		-	21,198		343.9	21,198		-	⑦
		Profit before income taxes		32,762		27.2	(36,481)		(591.8)	(69,244)		-
		Income taxes		9,838		8.2	(11,610)		(188.3)	(21,449)		-
		Profit		22,923		19.0	(24,871)		(403.5)	(47,794)		-
		Profit attributable to owners of parent		22,923		19.0	(24,871)		(403.5)	(47,794)		-	C

9

[A. ¥114.3 Billion (94.9%) Decrease in Net Sales]			(Millions of yen)
	Items	Three months	Three months				Primary reasons for change
	ended June	ended June		Change	Change (%)
		30, 2019	30, 2020
	① Theme Park Segment	100,179	5,123		(95,055)	(94.9)
	Attractions and shows	46,848	3,844		(43,004)	(91.8)
	Merchandise	33,478	959		(32,519)	(97.1)	・Decrease due to the temporary closure of both Parks
	Food and beverages	18,475	1		(18,474)	(100.0)
	Others	1,375	319		(1,056)	(76.8)
	② Hotel Business Segment	16,420	147		(16,273)	(99.1)
	Disney Hotels*1	14,353	26		(14,326)	(99.8)	・Decrease due to the temporary closure of hotels
	Other Hotels	2,067	120		(1,946)	(94.2)
	③ Other Business Segment	3,952	893		(3,059)	(77.4)
	Ikspiari	1,661	419		(1,242)	(74.8)	・Decrease due to the temporary closure of Ikspiari Business
	Monorail	1,177	32		(1,144)	(97.3)	・Decrease in Monorail Business due to the temporary closure of both Parks
	Others	1,113	441		(671)	(60.3)

*1 Including Disney Ambassador Hotel, Tokyo DisneySea Hotel MiraCosta, Tokyo Disneyland Hotel and Tokyo Disney Celebration Hotel.

[Theme Park Information (Year-on-year comparison)]

As both Parks were temporarily closed during the first quarter, there are no actual figures for attendance or net sales per Guest.

[B. 47.5 Billion Decrease in Operating Profit]			(Millions of yen)
	Items	Three months	Three months			Primary reasons for change
	ended June	ended June	Change	Change (%)
		30, 2019	30, 2020
						・Decrease in net sales
						・Decrease in personnel expenses [¥14.5 billion]
						-Transfer to extraordinary loss, decrease in personnel expenses for part-time employees,
						etc.
	④ Theme Park Segment	27,182	(11,439)	(38,622)	-	・Decrease in miscellaneous costs [¥6.9 billion]
						-Transfer to extraordinary loss, decrease in sales promotion costs, costs related to special
						events, etc.
						・Decrease in depreciation and amortization expenses [¥6.8 billion]
						-Transfer to extraordinary loss, etc.
						・Decrease in net sales
						・Decrease in personnel expenses [¥2.3 billion]
						-Transfer to extraordinary loss, decrease due to reduction of working hours, etc.
	⑤ Hotel Business Segment	3,784	(3,198)	(6,982)	-	・Decrease in miscellaneous costs [¥0.9 billion]
						-Decrease in maintenance costs, transfer to extraordinary loss, etc.
						・Decrease in depreciation and amortization expenses [¥0.7 billion]
						-Transfer to extraordinary loss, etc.
	⑥ Other Business Segment	911	(1,035)	(1,947)	-	・Decrease in net sales, etc.
[C. 47.7 Billion Decrease in Profit attributable to Owners of Parent]
	⑦ Increase in Extraordinary Loss					(Millions of yen)
	Items	Three months	Three months			Primary reasons for change
	ended June	ended June	Change	Change (%)
		30, 2019	30, 2020
						・Transfer from personnel expenses [¥7.7 billion]*2
						-Part of personnel expenses incurred during the temporary closure of both Parks
						・Transfer from miscellaneous costs [¥3.2 billion]
	Theme Park Segment	-	19,715	19,715	-	-Outsourcing, fixed asset tax during the temporary closure of both Parks, etc.
	・Transfer from depreciation and amortization expenses [¥7.2 billion]
						-Depreciation and amortization expenses during the temporary closure of both Parks
						・Personnel expenses in costs of food and beverages*2, disposal of merchandise and raw
						material, etc. [¥1.4 billion]
						・Transfer from personnel expenses [¥0.1 billion]*2
						-Part of personnel expenses incurred during the temporary closure of hotels
	Hotel Business Segment	-	1,262	1,262	-	・Transfer from miscellaneous costs [¥0.3 billion]
						-Fixed asset tax during the temporary closure of hotels, etc.
						・Transfer from depreciation and amortization expenses [¥0.7 billion]
						-Depreciation and amortization expenses during the temporary closure of hotels
						・Transfer from depreciation and amortization expenses [¥0.1 billion]
	Other Business Segment	-	219	219	-	-Depreciation and amortization expenses of Ikspiari business during the temporary closure
						of Ikspiari, etc.

*2 As the employment adjustment subsidy to be received from the government as a special measure to address the impact of COVID-19, highly accurate amount to be received is reasonably calculated, and has been deducted from the extraordinary loss.

10

5. Quarterly Consolidated Statements of Income (Actual /Previous Results for the Second Quarter)

									(Millions of yen)
			Three months		Three months		Change (Decrease)
		Items	ended September 30, 2019	ended September 30, 2020
		(Jul. 1, 2019 to Sep. 30, 2019)	(Jul. 1, 2020 to Sep. 30, 2020)
			Amount		%	Amount		%	Amount		%
		Net sales	127,876		100.0	52,984		100.0	(74,891)		(58.6)	A
		Theme Park Segment	105,215		82.3	42,725		80.6	(62,490)		(59.4)	①
		Hotel Business Segment	18,304		14.3	8,026		15.2	(10,277)		(56.1)	②
		Other Business Segment	4,356		3.4	2,232		4.2	(2,123)		(48.8)	③
		Cost of sales	81,018		63.4	49,641		93.7	(31,377)		(38.7)
		Personnel expenses	20,900			13,698			(7,202)
		Other expenses	51,764			26,875			(24,888)
		Depreciation and amortization	8,352			9,067			714
		Gross profit	46,858		36.6	3,343		6.3	(43,514)		(92.9)
		Selling, general and administrative expenses	17,855		13.9	11,880		22.4	(5,975)		(33.5)
		Personnel expenses	7,207			4,228			(2,979)
		Other expenses	9,325			6,271			(3,054)
		Depreciation and amortization	1,321			1,379			57
		Operating profit	29,002		22.7	(8,536)		(16.1)	(37,539)		-	B
		Theme Park Segment	22,747		17.8	(7,882)		(14.9)	(30,629)		-	④
		Hotel Business Segment	5,293		4.1	(470)		(0.9)	(5,763)		-	⑤
		Other Business Segment	896		0.7	(269)		(0.5)	(1,165)		-	⑥
		(Elimination and corporate)	66		0.1	85		0.2	19		29.1
		Non-operating income	537		0.4	411		0.7	(126)		(23.6)
		Non-operating expenses	224		0.2	1,336		2.5	1,111		494.4
		Ordinary profit	29,315		22.9	(9,461)		(17.9)	(38,777)		-
		Extraordinary losses	-		-	(7,865)		(14.9)	(7,865)		-	⑦
		Profit before income taxes	29,315		22.9	(1,596)		(3.0)	(30,912)		-
		Income taxes	9,154		7.1	3,627		6.9	(5,526)		(60.4)
		Profit	20,160		15.8	(5,224)		(9.9)	(25,385)		-
		Profit attributable to owners of parent	20,160		15.8	(5,224)		(9.9)	(25,385)		-	C

11

[A. 74.8 Billion (58.6%) Decrease in Net Sales]

(Millions of yen)

	Items	Three months	Three months	Change	Change (%)	Primary reasons for change
	ended September	ended September
		30, 2019	30, 2020
① Theme Park Segment	105,215	42,725	(62,490)	(59.4)
	Attractions and shows	49,258	21,520	(27,737)	(56.3)
	Merchandise	34,228	13,364	(20,864)	(61.0)	・Decrease by limited Theme Park attendance
	Food and beverages	19,860	7,364	(12,495)	(62.9)
	Others	1,868	474	(1,393)	(74.6)
② Hotel Business Segment	18,304	8,026	(10,277)	(56.1)
	Disney Hotels*1	16,442	7,254	(9,187)	(55.9)	・Decrease in accommodation revenue due to limited number of rooms sold
	Other Hotels	1,861	771	(1,089)	(58.5)
③ Other Business Segment	4,356	2,232	(2,123)	(48.8)
	Ikspiari	1,805	1,320	(485)	(26.9)	･Decrease in Monorail Business due to limited Theme Park attendance
	Monorail	1,364	335	(1,028)	(75.4)
	Others	1,186	577	(609)	(51.4)
	*1 Including Disney Ambassador Hotel, Tokyo DisneySea Hotel MiraCosta, Tokyo Disneyland Hotel and Tokyo Disney Celebration Hotel.

[B. 37.5 Billion Decrease in Operating Profit]			(Millions of yen)
	Items	Three months	Three months	Change	Change (%)	Primary reasons for change
	ended September ended September
		30, 2019	30, 2020
						・Decrease in net sales
						・Increase in merchandise and food/beverages sales cost ratio [¥(2.5 billion)]*2
						・Decrease in personnel expenses [¥8.3 billion]*2
	④ Theme Park Segment	22,747	(7,882)	(30,629)	-	-Decrease due to receipt of employment adjustment subsidy, decrease in personnel
						expenses for full-time employees, etc.
						・Decrease in miscellaneous costs [¥5.0 billion]
						-Decrease in sales promotion costs, costs related to special events, etc.
						・Increase in depreciation and amortization expenses [¥(0.6 billion)]
						・Decrease in net sales
	⑤ Hotel Business Segment	5,293	(470)	(5,763)	- ・Decrease in personnel expenses [¥1.5 billion]*2
						-Decrease due to reduction of bonus, etc.
	⑥ Other Business Segment	896	(269)	(1,165)	- ・Decrease in net sales, etc.

*2 Of the employment adjustment subsidy received due to the COVID-19 pandemic, the amount received for reasons other than the temporary closure of our Parks was deducted from operating expenses.

[C. 25.3 Billion Decrease in Profit attributable to Owners of Parent]

⑦ Decrease in Extraordinary Loss				(Millions of yen)
Items	Three months	Three months	Change	Change (%)	Primary reasons for change
ended September ended September
	30, 2019	30, 2020
					・Decrease in extraordinary loss [¥(7.5 billion)]
Theme Park Segment	-	(7,546)	(7,546)		- -Decrease due to receipt of employment adjustment subsidy*3
					-Decrease due to reduction of winter bonus payments to full-time employees
					・Decrease in extraordinary loss [¥(0.3 billion)]
Hotel Business Segment	-	(309)	(309)		- -Decrease due to receipt of employment adjustment subsidy*3
					-Decrease due to reduction of winter bonus payments to full-time employees
					・Decrease in extraordinary loss [¥(0.0 billion)]
Other Business Segment	-	(9)	(9)		- -Decrease due to receipt of employment adjustment subsidy*3
					-Decrease due to reduction of winter bonus payments to full-time employees

*3 The recorded amount were decreased from extraordinary loss in each business in the second quarter (July to September) because receipt of employment adjustment subsidy due to the impact of the COVID-19 pandemic exceeded the expected amount at the time of the first quarter settlement.

12

6. Quarterly Consolidated Statements of Income (Actual /Previous Results for the Third Quarter)

										(Millions of yen)
				Three months		Three months		Change (Decrease)
		Items		ended December 31, 2019	ended December 31, 2020
		(Oct. 1, 2019 to Dec. 31, 2019)	(Oct. 1, 2020 to Dec. 31, 2020)
				Amount		%	Amount		%	Amount		%
		Net sales	141,776		100.0	77,964		100.0	(63,811)		(45.0)	A
		Theme Park Segment	118,727		83.7	61,310		78.7	(57,417)		(48.4)	①
		Hotel Business Segment	18,795		13.3	13,984		17.9	(4,811)		(25.6)	②
		Other Business Segment	4,253		3.0	2,669		3.4	(1,583)		(37.2)	③
		Cost of sales	84,599		59.7	59,382		76.2	(25,216)		(29.8)
		Personnel expenses	20,812			16,445			(4,367)
		Other expenses	54,799			31,734			(23,065)
		Depreciation and amortization	8,986			11,202			2,216
		Gross profit	57,177		40.3	18,582		23.8	(38,595)		(67.5)
		Selling, general and administrative expenses	17,078		12.0	14,243		18.2	(2,834)		(16.6)
		Personnel expenses	6,734			5,788			(946)
		Other expenses	9,010			7,062			(1,947)
		Depreciation and amortization	1,333			1,392			59
		Operating profit	40,098		28.3	4,338		5.6	(35,760)		(89.2)	B
		Theme Park Segment	33,572		23.7	937		1.2	(32,635)		(97.2)	④
		Hotel Business Segment		5,566		3.9	3,290		4.2	(2,275)		(40.9)	⑤
		Other Business Segment		920		0.7	81		0.1	(839)		(91.2)	⑥
		(Elimination and corporate)		38		0.0	29		0.1	(9)		(23.6)
		Non-operating income		578		0.4	481		0.6	(97)		(16.8)
		Non-operating expenses		396		0.3	1,925		2.5	1,528		385.3
		Ordinary profit		40,280		28.4	2,894		3.7	(37,386)		(92.8)
		Extraordinary losses		-		-	0		0.0	0		-
		Profit before income taxes		40,280		28.4	2,893		3.7	(37,386)		(92.8)
		Income taxes		12,371		8.7	1,526		1.9	(10,845)		(87.7)
		Profit		27,908		19.7	1,367		1.8	(26,541)		(95.1)
		Profit attributable to owners of parent		27,908		19.7	1,367		1.8	(26,541)		(95.1)

13

[A. ¥63.8 Billion (45.0%) Decrease in Net Sales]

(Millions of yen)

	Items	Three months	Three months	Change	Change (%)	Primary reasons for change
	ended December	ended December
		31, 2019	31, 2020
① Theme Park Segment	118,727	61,310	(57,417)	(48.4)
	Attractions and shows	55,363	29,086	(26,276)	(47.5)
	Merchandise	39,721	19,487	(20,233)	(50.9)	・Decrease by limited Theme Park attendance
	Food and beverages	21,733	11,486	(10,247)	(47.1)
	Others	1,908	1,250	(658)	(34.5)
② Hotel Business Segment	18,795	13,984	(4,811)	(25.6)
	Disney Hotels*1	16,502	12,520	(3,982)	(24.1)	・Decrease in accommodation revenue due to limited number of rooms sold
	Other Hotels	2,292	1,464	(828)	(36.1)
③ Other Business Segment	4,253	2,669	(1,583)	(37.2)
	Ikspiari	1,702	1,434	(268)	(15.8)	･Decrease in Monorail Business due to limited Theme Park attendance
	Monorail	1,399	495	(904)	(64.6)
	Others	1,150	740	(410)	(35.7)

*1 Including Disney Ambassador Hotel, Tokyo DisneySea Hotel MiraCosta, Tokyo Disneyland Hotel and Tokyo Disney Celebration Hotel.

[B. ¥35.7 Billion (89.2%) Decrease in Operating Profit]

(Millions of yen)

Items	Three months	Three months	Change	Change (%)	Primary reasons for change
ended December	ended December
	31, 2019	31, 2020
					・Decrease in net sales
					・Increase in merchandise and food/beverages sales cost ratio [¥(2.3 billion)]*2
					・Decrease in personnel expenses [¥4.4 billion]*2
④ Theme Park Segment	33,572	937	(32,635)	(97.2)	-Decrease in personnel expenses for part-time employees and full-time employees, etc.
・Decrease in miscellaneous costs [¥5.7 billion]
					-Decrease in costs related to special events, maintenance costs, sales promotion costs,
					etc.
					・Increase in depreciation and amortization expenses [¥(2.1 billion)]
					・Decrease in net sales
⑤ Hotel Business Segment	5,566	3,290	(2,275)	(40.9) ・Decrease in personnel expenses [¥0.7 billion]*2
					-Decrease due to reduction of bonus, etc.
⑥ Other Business Segment	920	81	(839)	(91.2) ・Decrease in net sales, etc.

*2 Of the employment adjustment subsidy received due to the COVID-19 pandemic, the amount received for reasons other than the temporary closure of our Parks was deducted from operating expenses.

14

7. Quarterly Consolidated Statements of Income (Actual /Previous Results for the Fourth Quarter)

										(Millions of yen)
				Three months		Three months		Change (Decrease)
		Items		ended March 31, 2020		ended March 31, 2021
		(Jan. 1, 2020 to Mar. 31, 2020)	(Jan. 1, 2021 to Mar. 31, 2021)
				Amount		%	Amount		%	Amount		%
		Net sales	74,245		100.0	33,467		100.0	(40,777)		(54.9)	A
		Theme Park Segment	59,908		80.7	25,134		75.1	(34,774)		(58.0)	①
		Hotel Business Segment	10,855		14.6	6,469		19.3	(4,385)		(40.4)	②
		Other Business Segment	3,481		4.7	1,864		5.6	(1,617)		(46.5)	③
		Cost of sales	62,714		84.5	47,691		142.5	(15,022)		(24.0)
		Personnel expenses	14,373			11,319			(3,053)
		Other expenses	41,956			25,318			(16,638)
		Depreciation and amortization	6,384			11,053			4,669
		Gross profit	11,531		15.5	(14,223)		(42.5)	(25,755)		-
		Selling, general and administrative expenses	15,706		21.1	11,925		35.6	(3,781)		(24.1)
		Personnel expenses	4,998			4,820			(177)
		Other expenses	9,276			5,694			(3,582)
		Depreciation and amortization	1,431			1,409			(21)
		Operating profit	(4,175)		(5.6)	(26,148)		(78.1)	(21,973)		-	B
		Theme Park Segment		(3,842)		(5.2)	(23,598)		(70.5)	(19,755)		-	④
		Hotel Business Segment		124		0.2	(1,575)		(4.7)	(1,700)		-	⑤
		Other Business Segment		(566)		(0.8)	(1,088)		(3.2)	(521)		-	⑥
		(Elimination and corporate)		108		0.2	113		0.3	4		4.1
		Non-operating income		380		0.5	186		0.6	(193)		(50.9)
		Non-operating expenses		500		0.7	1,392		4.2	891		178.1
		Ordinary profit		(4,295)		(5.8)	(27,354)		(81.7)	(23,059)		-
		Extraordinary income		341		0.5	-		-	(341)		-
		Extraordinary losses		9,270		12.5	5,265		15.8	(4,005)		(43.2)	⑦
		Profit before income taxes		(13,224)		(17.8)	(32,619)		(97.5)	(19,395)		-
		Income taxes		(4,449)		(6.0)	(7,157)		(21.4)	(2,708)		-
		Profit		(8,775)		(11.8)	(25,462)		(76.1)	(16,687)		-
		Profit attributable to owners of parent		(8,775)		(11.8)	(25,462)		(76.1)	(16,687)		-	C

15

[A. ¥40.7 Billion (54.9%) Decrease in Net Sales]

(Millions of yen)

	Items	Three months	Three months	Change	Change (%)	Primary reasons for change
	ended March	ended March
		31, 2020	31, 2021
① Theme Park Segment	59,908	25,134	(34,774)	(58.0)
	Attractions and shows	28,494	12,486	(16,008)	(56.2)
	Merchandise	19,393	7,767	(11,625)	(59.9)	・Decrease by limited Theme Park attendance
	Food and beverages	10,745	3,790	(6,955)	(64.7)
	Others	1,274	1,089	(184)	(14.5)
② Hotel Business Segment	10,855	6,469	(4,385)	(40.4)
	Disney Hotels*1	9,500	5,769	(3,730)	(39.3)	・Decrease in accommodation revenue due to limited number of rooms sold
	Other Hotels	1,354	699	(655)	(48.4)
③ Other Business Segment	3,481	1,864	(1,617)	(46.5)
	Ikspiari	1,005	1,098	93	9.3	･Decrease in Monorail Business due to limited Theme Park attendance
	Monorail	826	156	(670)	(81.1)
	Others	1,649	609	(1,040)	(63.1)

*1 Including Disney Ambassador Hotel, Tokyo DisneySea Hotel MiraCosta, Tokyo Disneyland Hotel and Tokyo Disney Celebration Hotel.

[B. ¥21.9 Billion Decrease in Operating Profit]

(Millions of yen)

Items	Three months	Three months	Change	Change (%)	Primary reasons for change
ended March	ended March
	31, 2020	31, 2021
					・Decrease in net sales
					・Increase in merchandise and food/beverages sales cost ratio [¥(8.0 billion)]*2
					・Decrease in personnel expenses [¥2.9 billion]*2
④ Theme Park Segment	(3,842)	(23,598)	(19,755)	-	-Decrease due to receipt of employment adjustment subsidy, etc.
・Decrease in miscellaneous costs [¥7.5 billion]
					-Decrease in maintenance costs, sales promotion costs, costs related to special events,
					etc.
					・Increase in depreciation and amortization expenses [¥(4.4 billion)]
⑤ Hotel Business Segment	124	(1,575)	(1,700)	-	・Decrease in net sales
・Decrease in miscellaneous costs
⑥ Other Business Segment	(566)	(1,088)	(521)	- ・Decrease in net sales, etc.

*2 Of the employment adjustment subsidy received due to the COVID-19 pandemic, the amount received (including the estimated amount to be received) for reasons other than the temporary closure of our Parks was deducted from operating expenses.

[C. ¥16.6 Billion Decrease in Profit Attributable to Owners of Parent]

⑦ Decrease in Extraordinary Loss

・Impairment loss in Brighton Hotel business in Hotel Business Segment	¥5.6 billion
・Loss on temporary closure in the previous fourth quarter	¥(9.2 billion)
・Other	¥(0.3 billion)

16

Ｏｒｉｅｎｔａｌ Ｌａｎｄ Ｃｏ., Ｌｔｄ.

Investor Relations Group, Finance/Accounting Department

URL: http://www.olc.co.jp/en

This document includes statements about Oriental Land's plans, estimates, strategies and beliefs. The statements made that are not based on historical fact represent the assumptions and expectations of Oriental Land in light of the information available to it as of the date when this document was prepared, and should be considered as forward-looking.

Oriental Land uses a variety of business measures to constantly strive to increase its net sales and management efficiency. However, Oriental Land recognizes that there are certain risks and uncertainties that should be considered which could cause actual performance results to differ from those discussed in the forward-looking statements.

Potential risks could include, but are not limited to, weather, general economic conditions, and consumer preferences. Therefore, there is no firm assurance that the forward-looking statements in this document will prove to be accurate.

Theme park attendance figures have been rounded. Financial figures have been truncated.

All rights reserved.