Tokyo Disney Resort’s operator for the Oriental Land Co., has released their Q1 FY20 earnings and also detailing their plans for growth and investments at both Tokyo Disneyland and Tokyo DisneySea.
Revenue was down by 95% in the first quarter from an amounting loss of ¥114.3 billion ($1.08 billion). The results were impacted by the temporary closures of both theme parks due towards the global pandemic. The company has shared previously for their business moves for medium and long growth, including per-units sales, investments plans and new businesses. The OLC would need to explore new park strategy in order to increase unit per-sales and finding new solutions of new earnings sources based off guest experiences at both Tokyo Disneyland and Tokyo DisneySea.
The OLC is looking into investment plans, as the company did announced the replacement of Fantasmic! with a brand new entertainment show called “‘Believe! Sea of Dreams” coming to Tokyo DisneySea in fiscial year 2021 at the Mediterranean Harbor in which will mark Tokyo DisneySea’s 20th anniversary. Fantasy Springs will feature waterfalls and ponds flowing with magical spring waters, and themed towards three different areas based off different Disney franchises including; Frozen, Tangled, and Peter Pan.
The upcoming Fantasy Springs project that was also set for 2022, now delayed till 2023 to set for operations. A new Toy Story Hotel that will be similar from Shanghai Disney Resort’s when the park first opened up in June 2016, will be also coming to Tokyo Disney Resort as well. Set to be on schedule to open up in fiscal 2021, in being next door towards the popular Hilton Tokyo Bay hotel.
The new Fantasyland expansion that was set to open up on April 15, 2020 and originally scheduled to be opening before the summer Olympic Games in Tokyo this year. Their is no new announced date by the OLC for the new Fantasyland project and the Tokyo summer games have been postpone till 2021. The expansion is set feature new attractions and experiences such as; a brand new Beauty & The Beast floorless attraction, Minnie’s style studio, a Baymax attraction and a brand new Fantasyland Forest theatre with a brand new show called “Mickey’s Magical Music World”.
The company also has plans to suspend, downsize or postpone less urgent remodelling works at Tokyo DisneySea and Tokyo Disneyland. Also, the company did share they are setting up new businesses with it’s new subsidiary Oriental Land Innovations Co Ltd that was established on June 5, 2020.
The company will address the risk of having all businesses concentrated in Maihama, and wants to create businesses that contribute to the development of a society with the overall philosophy views of “dreams, moving experiences, happiness and contentment”.
The subsidiary will make a small-scale minority investment, before pursuing research in fields and they believe and promise to increase the probability of success in new business development.
The subsidiary for the, OLC will continue to research and study new businesses in areas expected to grow in the long term. Various options will be considered to contribute to OLC’s sustained growth.
Tokyo Disneyland and Tokyo DisneySea reopened on July 1,2020