Oriental Land Reports Results for the Interim Period ended September 30, 2007.Tokyo Tokyo (tō`kēō), city (1990 pop. 8,163,573), capital of Japan and of Tokyo prefecture, E central Honshu, at the head of Tokyo Bay. , Japan, Nov 6, 2007 - (JCN JCN Japan Corporate NewsJCN Journal of Cognitive Neuroscience JCN Journal of Cardiovascular Nursing JCN Journal of Christian Nursing JCN Job Control Number JCN Journal of Child Neurology JCN joint communications network (US DoD) Newswire) - Oriental oriental having some connection with the Orient. oriental avian eye fluke see philophthalmusgralli. oriental blood fluke schistosomajaponicum. oriental cattle plague see rinderpest. Land Co., Ltd. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :4661) has reported results for the interim period ended September September: see month. 30, 2007. Revenues for the period were JPY JPY In currencies, this is the abbreviation for the Japanese Yen. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 163,114 million, up 1.6 percent compared with the same period of the previous fiscal year, operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. was JPY 16,341 million, up 38.2 percent, ordinary income was JPY 15,040 million, up 52.2 percent, and net income was JPY 8,423 million, up 57.6 percent. The OLC OLC - On-Line Computer system Group continued to work toward the three fundamental policies put forth in "Innovate in·no·vate v. in·no·vat·ed, in·no·vat·ing, in·no·vates v.tr. To begin or introduce (something new) for or as if for the first time. v.intr. To begin or introduce something new. OLC 2010," the medium-term plan formulated for·mu·late tr.v. for·mu·lat·ed, for·mu·lat·ing, for·mu·lates 1. a. To state as or reduce to a formula. b. To express in systematic terms or concepts. c. this year: 1) further strengthen the core business (Tokyo Disney Resort The Tokyo Disney Resort (東京ディズニーリゾート ) for earnings growth; 2) establish the foundation for new growth; and 3) increase the value of the OLC Group. Particularly in the core Theme Park Segment, the Group worked to enhance its content through methods including renewing attractions and holding various events, in addition to a focusing on greater cost efficiency. Revenues increased as a result of the strong performance of the Theme Park Segment. In the Theme Park Segment, total attendance and revenues per guest both increased over the same period of the previous fiscal year. In the Other Business Segment, revenues increased due to the fare revision implemented on the Disney Resort Line. As a result, revenues totaled JPY 163,114 million, up 1.6 percent compared with the same period of the previous fiscal year. Operating income increased with higher revenues and efforts to enhance cost efficiency. In the Theme Park Segment, fixed expenses, personnel expenses and other expenses decreased. As a result, operating income was JPY 16,341 million, up 38.2 percent. As a result of the increase in operating income, in addition to higher non-operating income due to increased interest income, ordinary income was JPY 15,040 million, up 52.2 percent. Despite an extraordinary loss due to a provision for doubtful receivables Receivables An asset designation applicable to all debts, unsettled transactions or other monetary obligations owed to a company by its debtors or customers. Receivables are recorded by a company's accountants and reported on the balance sheet, and they and include all debts owed from a contracting company for a hydroponic culture facility, net income was JPY 8,423 million, up 57.6 percent due to the increase in ordinary income. I. First Half Financial Summary (April 1, 2007 - Sept. 30, 2007)
(Millions of Yen)
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April 1 - Sept. 30, FY ended
2007 % 2006 % 3/31/07
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(1) Consolidated Operating Results
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Net Sales 163,114 1.6 160,551 2.7 344,082
Operating Income 16,341 38.2 11,828 3.9 34,110
Ordinary Income 15,040 52.2 9,884 1.5 30,187
Net Income 8,423 57.6 5,342 (3.1) 16,309
Net Income per Share (Yen) 88.55 56.17 171.46
Net Income per Share,
diluted (Yen) - - -
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(2) Consolidated Financial Position
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Total Assets 694,137 680,177 699,772
Shareholders' Equity 388,111 376,946 385,000
Shareholders' Equity Ratio 55.9% 55.4% 55.0%
Shareholders' Equity
per Share (Yen) 4,078.65 3,961.59 4,046.03
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(3) Consolidated Cash Flows
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Cash Flows from
Operating Activities 20,308 24,937 66,503
Cash Flows from
Investing Activities (42,499) (24,146) (67,919)
Cash Flows from
Financing Activities 6,502 (33,019) (36,038)
Cash and Cash Equivalents,
End of Term 31,189 52,112 46,878
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- Theme Park Segment: Tokyo Disneyland Tokyo Disneyland (東京ディズニーランド , Tokyo DisneySea Tokyo DisneySea (東京ディズニーシー , Tokyo DisneySea Hotel MiraCosta and others Revenues rose 1.5% to JPY 136,334 million and operating income increased 34.6% 10 JPY 14,731 million as a result of growth in theme park attendance and revenues per guest compared with the first half of the previous fiscal year, in addition to efforts to contain costs. At Tokyo Disneyland, we began offering the special event "Lilo 1. (operating system) lilo - Linux Loader. 2. lilo - first-in first-out. & Stitch's Big Panic - 'Find Stitch stitch (stich) 1. a sudden, transient cutting pain. 2. a suture. stitch n. 1. A sudden sharp pain, especially in the side. 2. A single suture. !'," in April, opened the "Pirates of the Caribbean This article is about the franchise. For other, more specific uses, see Pirates of the Caribbean (disambiguation). For real pirates, see Piracy in the Caribbean. Pirates of the Caribbean " attraction in July, and offered water programs every day of the summer vacation Summer vacation (also called summer holidays or summer break) is a vacation in the summertime between school years in which students are off for 3 months, depending on the country and district. period. At Tokyo DisneySea, the final program of the Tokyo DisneySea 5th Anniversary celebration took place until May, and "Tower of Terror The Tower of Terror may refer to: Amusement park rides
Revenues per guest at the theme parks were JPY 9,273 (up 1.1 percent). Ticket receipts were JPY 4,178 (up 3.5 percent) due to a revision of ticket prices in September 2006. Merchandise sales revenues were JPY 3,026 (down 2.3 percent), due in part to renovation work at Tokyo Disneyland merchandise shops. Revenues from food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. sales were JPY 2,069 (up 1.6 percent) due to increased sales of ice cream and drinks, reflecting higher summer temperatures. In order for guests to keep cool while enjoying the hot summer, we implemented various measures at the two theme parks. Refreshing water programs continued from the previous year were "Cool the Heat" and "Goofy's Cool Panic" at Tokyo Disneyland, and "Chip 'n Dale's Cool Service" at Tokyo DisneySea. Moreover, we strengthened our ability to attract guests with cool nights by offering "Wet & Wild Pirate Night," a dynamic water program based on the "Pirates of the Caribbean" series of Disney movies that makes grand use of water and fire, as a new evening entertainment at Tokyo Disneyland, and "Bon Fire Dance," a summer Japan-themed festival, at Tokyo Disney Sea. Other refreshing events included a mist spray from Cool Spots placed in 12 locations in each theme park. At Tokyo DisneySea Hotel MiraCosta, we conducted various programs including unique programs commemorating com·mem·o·rate tr.v. com·mem·o·rat·ed, com·mem·o·rat·ing, com·mem·o·rates 1. To honor the memory of with a ceremony. See Synonyms at observe. 2. To serve as a memorial to. the 5th anniversary of its opening and restaurant events coordinated with Disney movies. As a result, the occupancy rate Noun 1. occupancy rate - the percentage of all rental units (as in hotels) are occupied or rented at a given time pct, per centum, percent, percentage - a proportion in relation to a whole (which is usually the amount per hundred) was at the mid- mid- pref. Middle: midbrain. 90 percent level. The Hotel reached its one-millionth booking in April. Operating income increased due to lower personnel expenses, as well as a reduction in fixed expenses such as a decrease in costs for renovation of facilities and outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. generated during the same period in the previous fiscal year by the Tokyo DisneySea 5th Anniversary, and enhanced cost efficiency in advertising and other sales promotion expenses and entertainment show production costs. - Commercial Facilities Segment: IKSPIARI, Disney Ambassador Hotel and others Revenues rose 1.3% to JPY 11,432 and operating income increased 144.2% to JPY 764 million as both IKSPIARI and the Disney Ambassador Hotel performed well. At IKSPIARI, we opened new stores and carried out store renovations during March and April. Coupled with the seventh year of its opening on July 7, we provided commemorative com·mem·o·ra·tive adj. Honoring or preserving the memory of another. n. Something that honors or preserves the memory of another. com·mem items and a special menu that express the unique charm of IKSPIARI. At the Disney Ambassador Hotel, in addition to implementing events linked to special events at Tokyo Disneyland, the impact of the full renovation of guest rooms and other areas that was carried out in the same period of the previous fiscal year was absent. As a result, the occupancy rate was in the lower 90 percent range. In addition to the increase in revenues, other factors, including the absence of expenses related to the full renovation of the Disney Ambassador Hotel that occurred in the same period of the previous fiscal year, resulted in an increase in operating income. - Retail Business Segment: The Disney Store Although revenues decreased 4.1% to JPY 8,109 , the pace of decline slowed. Operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. diminished di·min·ish v. di·min·ished, di·min·ish·ing, di·min·ish·es v.tr. 1. a. To make smaller or less or to cause to appear so. b. as a result of efforts to improve the cost structure. At Disney Stores, we offered items commemorating the 15th anniversary of its opening, as well as merchandise replete re·plete adj. 1. Abundantly supplied; abounding: a stream replete with trout; an apartment replete with Empire furniture. 2. Filled to satiation; gorged. 3. with Disney's world view and originality o·rig·i·nal·i·ty n. pl. o·rig·i·nal·i·ties 1. The quality of being original. 2. The capacity to act or think independently. 3. Something original. Noun 1. , including tie-in merchandise coinciding co·in·cide intr.v. co·in·cid·ed, co·in·cid·ing, co·in·cides 1. To occupy the same relative position or the same area in space. 2. To happen at the same time or during the same period. 3. with the release of the Disney movie "Pirates of the Caribbean: At World's End." In addition to raising the amount that a customer spends per purchase by implementing a present campaign commemorating the 15th anniversary of the opening of The Disney Store during the summer vacation, we enhanced campaigns for members of "Fantamiliar," our loyal customer program, to strengthen membership recruitment and promote purchasing. At the same time, through closures of unprofitable stores and other methods, the number of stores as of September 30, 2007 was 50, down by four stores from the same period of the previous fiscal year. As a result, revenues decreased compared with the same period of the previous fiscal year, although the pace of decline slowed. The operating loss in this segment was 175 million, an improvement of JPY 365 million. Cost structure reforms that have been ongoing since the previous fiscal year led to decreases in expenses such as store rent, distribution expenses, head office rental expenses and personnel expenses. In addition, we closed two unprofitable stores and improved store earnings structure during the interim period. As a result, the operating loss was smaller compared with the same period of the previous fiscal year. - Other Business Segment: Palm & Fountain fountain, natural or artificially conveyed flow of water. In ancient Greece columnar shrines were built over springs and dedicated to deities or nymphs. In ancient Rome fountains fed by the great aqueduct system furnished water in the streets, in the villa gardens, Terrace Hotel, Disney Resort Line and others Despite a 12.0% increase in revenues to JPY 7,238 million, operating income declined 16.4% to 824 million due to movie-related costs and other factors. At the Palm & Fountain Terrace Hotel, we implemented several measures including aggressive PR activities and sales of original packages. As a result, the occupancy rate was approximately 80 percent. Revenues of the Disney Resort Line increased due to a fare revision implemented in April. Despite an increase in revenues, operating income decreased due to recording movie-related costs and other factors. II. Forecast for the Fiscal Year Ending March 31, 2008
(millions of yen)
------------------------------------------------------------------------
Forecast FY Result FY Increase Change
3/31/2008 3/31/2007 (decrease) (%)
------------------------------------------------------------------------
Revenues 344,450 344,082 367 0.1
Theme Park Segment 287,190 289,148 (1,958) (0.7)
Commercial Facilities Segment 23,590 23,177 412 1.8
Retail Business Segment 17,760 17,858 (98) (0.6)
Other Business Segment 15,910 13,898 2,011 14.5
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Operating Income (Operating Loss) 31,930 34,110 (2,180) (6.4)
Theme Park Segment 29,120 31,496 (2,376) (7.5)
Commercial Facilities Segment 1,540 1,036 503 48.6
Retail Business Segment (260) (1,019) 759 -
Other Business Segment 1,300 2,323 (1,023) (44.0)
Eliminations, etc. 230 274 (44) (16.2)
------------------------------------------------------------------------
Ordinary Income 27,830 30,187 (2,357) (7.8)
------------------------------------------------------------------------
Net Income 16,290 16,309 (19) (0.1)
------------------------------------------------------------------------
- Theme Park Segment: Tokyo Disneyland, Tokyo DisneySea, Tokyo DisneySea Hotel MiraCosta and others Decreases in revenues (JPY 287,190 million, down 0.7% compared with the previous fiscal year) and income (JPY 29,120 million, down 7.5%)are forecast due to factors including a decline in attendance and an increase in depreciation expenses following tax system revisions. At the two theme parks, we will hold events and programs unique to each theme park in the second half of the fiscal year. At Tokyo Disneyland, in addition to special events for Halloween and Christmas, we will offer the finale For the music notation program, see . A finale (italian word) is a closing part, act or movement of a dramatic or musical composition, or more generally any event or procedure with a dramatically concluding effect. performance this fiscal year of "Cinderellabration: Lights of Romance." At Tokyo DisneySea, in addition to "Disney a la Carte," a festival with themes of food and art, we will hold various programs such including special events for Christmas. However, because it will be the year following the Tokyo DisneySea 5th Anniversary, total attendance at the two theme parks is forecast to be 25,400 thousand (down 1.6 percent from the previous fiscal year). Revenues per guest at the theme parks are expected to be JPY 9,400 (up 1.0 percent). Ticket receipts are expected to be JPY 4,250 (up 2.4 percent) due to the effect of the ticket price revisions in September 2006. Merchandise sales revenues are expected to be JPY 3,120 (down 0.8 percent) due to renovation work at Tokyo Disneyland merchandise shops and other factors. Revenues from food and beverage sales are expected to be JPY 2,030 (up 0.8 percent) as restaurants and food wagons will continue to offer menus and services tied in with park events. At Tokyo DisneySea Hotel MiraCosta, we will conduct events linked to special events at Tokyo DisneySea and offer special restaurant menus, as well as various other programs. The hotel will carry out a full renovation of guest rooms and other areas from January through March 2008, which will likely result in an occupancy rate in the lower 90 percent range. In addition to the decrease in revenues, depreciation expenses following tax system revisions, expenses for the full renovation of Tokyo DisneySea Hotel MiraCosta and other expenses will increase. Therefore, operating income is expected to decrease. - Commercial Facilities Segment: IKSPIARI, Disney Ambassador Hotel and others Revenues (JPY 23,590 million, up 1.8%) and income (operating income JPY 1,540 million, up 48.6%) are forecast to increase, with strong performance at both IKSPIARI and the Disney Ambassador Hotel. At IKSPIARI, we will carry out seasonal events, such as for Halloween and Christmas, that are unique to IKSPIARI. At the Disney Ambassador Hotel, we will conduct various programs including special programs linked with theme park events and a unique Disney hotel campaign. The occupancy rate is expected to be in the lower 90 percent range, because of the absence of the full renovations made during the previous fiscal year. In addition to the increase in revenues, renovation expenses for the Disney Ambassador Hotel in the fiscal year ended March 2007 will not occur in the fiscal year ending March 2008, and therefore operating income is projected to increase. - Retail Business Segment: The Disney Store We will continue to execute sweeping improvement measures, and expect revenues to remain basically unchanged from the previous fiscal year and operating loss to decrease. (Revenues JPY 17,760 million, down 0.6%, operating loss JPY 260 million, an improvement of JPY 759 million). At Disney Stores, we will develop numerous Disney Store original decorations and items suitable as gifts as program merchandise linked to seasonal events such as Christmas and Valentine's Day Valentine's Day: see Saint Valentine's Day. Valentine's Day Lovers' holiday celebrated on February 14, the feast day of St. Valentine, one of two 3rd-century Roman martyrs of the same name. St. . In addition, we will implement a campaign for members of "Fantamiliar," working to recruit new members and promote renewal of current memberships. We will open the Hanyu AEON MALL Store and the Funabashi LaLaport TOKYO-BAY Store in November 2007, bringing the total number of stores to 52, and work to expand sales. As a result, revenues are expected to increase from the second half of the fiscal year with revenues for the fiscal year ending March 2008 remaining basically unchanged from the fiscal year ended March 2007. As a result of cost structure reforms, operating loss is expected to decrease. We aim for this segment to return to profitability in the fiscal year ending March 2009 and to achieve an operating margin Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: of 4 percent in the fiscal year ending March 2011. - Other Business Segment: Palm & Fountain Terrace Hotel, Disney Resort Line and others Despite an increase in revenues (JPY 15,910 million, up 14.5%), operating income is expected to decrease due to preparation costs for opening new facilities and movie-related costs. (Operating income JPY 1,300 million, down 44.0%) At the Palm & Fountain Terrace Hotel, we will continue to conduct PR activities in conjunction with theme park promotions and conduct various other sales activities including sales of original packages. To increase customer satisfaction, we will extend checkout time n. 1. the latest time for vacating a hotel room without being charged for extra time; as, the checkout here is 12 noon s>. Noun 1. checkout time - the latest time for vacating a hotel room; "the checkout here is 12 noon" checkout by one hour. The occupancy rate is projected to be in the lower 80 percent range. A fare revision implemented in April is expected to contribute to revenues of the Disney Resort Line. Despite an increase in revenues, operating income is expected to decrease due to preparation costs for the opening of Tokyo Disneyland Hotel The Tokyo Disneyland Hotel is the third Disney-brand hotel of the Tokyo Disney Resort. Also, it is the fourth Disneyland Hotel. It is located right in front of the Tokyo Disneyland park with the Tokyo Disneyland station of the Disney Resort Line monorail system in between. and Cirque du Soleil Cirque du Soleil (French for "Circus of the Sun") is an entertainment empire based in Montreal, Quebec, Canada and founded in Baie-Saint-Paul in 1984 by two former street performers, Guy Laliberté and Daniel Gauthier. Theatre Tokyo in the fiscal year ending March 2009, and movierelated costs About Oriental Land Co., Ltd. Oriental Land Co., Ltd. was established in 1960 to reclaim land off the coast of Urayasu, Chiba Urayasu (Japanese: 浦安市; -shi) is a city located in western Chiba, Japan, on the border with Tokyo. It is best known as the home of the Tokyo Disney Resort. As of 2003, the city has an estimated population of 145,239 and the density of 8,400. Prefecture, and to construct a large-scale leisure facility with the objective of contributing to the culture, welfare and well-being of the Japanese people The Japanese people (日本人 Nihonjin, Nipponjin . In 1983, Oriental Land opened Tokyo Disneyland in Maihama, Chiba Prefecture Chiba Prefecture (千葉県 Chiba-ken , about 10 kilometers from central Tokyo. Since then, we have significantly contributed to the expansion of Japan's amusement Amusement is the state of experiencing humorous and usually entertaining events or situations, and is associated with enjoyment, happiness, laughter and pleasure. Amusement may also be experienced through the recollection of events which have given rise to amusement in the past. and leisure park industry and have maintained our established position in the market and expanded our profit base by maximizing our advantages of superb location, our business alliance with Disney Enterprises, Inc. and our accumulated ac·cu·mu·late v. ac·cu·mu·lat·ed, ac·cu·mu·lat·ing, ac·cu·mu·lates v.tr. To gather or pile up; amass. See Synonyms at gather. v.intr. To mount up; increase. theme park management expertise. In 2001, we opened Tokyo DisneySea, the world's first Disney theme park based on a mritime concept. To date, the two theme parks have welcomed a cumulative total of more than 400 million guests. For more information, please visit www.olc.co.jp/en. Source: Oriental Land Co., Ltd. Contact: Emi Yokoshima Investor Relations Group Finance/Accounting Division Oriental Land Co., Ltd. Tel: +81-47-305-2034 Fax: +81-47-381-3556 Email: olc-ir@olc.co.jp Japan Corporate News Network. All rights reserved. |
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