Kyoichiro Uenishi, President and COO
A message to shareholders and investors from Kyoichiro Uenishi, Representative Director, President and COO of Oriental Land Co., Ltd.
To shareholders and investors
I wish to express our heartfelt sympathy to the people who have been infected with the novel coronavirus and those who have had their day-to-day lives affected by the spreading infection. I sincerely pray for their speedy recovery and for the pandemic to end at the earliest possible timing.
Temporary closure due to spreading novel coronavirus
In response to the request made by the Japanese government’s Novel Coronavirus Response Headquarters to suspend events and other gatherings, we closed Tokyo Disneyland and Tokyo DisneySea on February 29, with the closure continuing past the end of the fiscal year ended March 31, 2020. We apologize to our shareholders and investors for the concern this has caused, and express our deepest appreciation for the encouraging words and tremendous support you have kindly extended to us.
Strong performance recorded until third quarter, but a fall in sales and operating profit posted due to novel coronavirus outbreak
Driven by “Soaring: Fantastic Flight,” a new attraction opened at Tokyo DisneySea on July 23, 2019, and successful events and programs rolled out at both Parks throughout the fiscal year ended March 31, 2020, Theme Park attendance, until the end of the third quarter, was maintained at roughly the same high level as in the previous fiscal year, when the Tokyo Disney Resort 35th anniversary events were held.
However, in response to the government’s plea to call off events and gatherings, we closed both our Parks, which resulted in a year-on-year decrease in net sales and operating profit.
Updates on 2020 Medium-Term Plan
During the fiscal year ended March 2020, the third year under our 2020 Medium-Term Plan, we were able to achieve further progress in our initiatives to strengthen our business foundation for long-term sustainable growth, both in terms of our structural facilities that offer novelty and comfort as well as our human resources.
As for the structural aspect, in addition to introducing new contents such as “Soaring: Fantastic Flight” to provide novelty, we accelerated the use of digital technology, for example, by enabling the Guests to obtain FASTPASS tickets thorough Tokyo Disney Resort App. Furthermore, we endeavored to enhance Guests’ comfort by renovating and enhancing our service facilities, including building a new multistory parking structure and redesigning the main entrance of Tokyo Disneyland. With regard to our human resources strategy, we undertook a range of measures to create a comfortable workplace for our employees and help them gain a tangible sense of their own personal growth. For example, we established a new employee category named “Theme Park Operation employees” in February 2020 to ensure that Cast Members wishing to work for our Theme Parks over the long term can do so with a sense of security. Our measures are aimed at strengthening both our operational capacity and hospitality, with an eye to achieving growth under the 2020 Medium-Term Plan and beyond.
Discerning the impact of environmental changes and responding swiftly
The fiscal year ending March 2021 will mark the 60th anniversary of the OLC Group’s foundation. We wish to extend our heartfelt gratitude to our shareholders and investors, as well as all stakeholders, for the support extended, without which we could not have achieved this celebratory milestone. We are determined to keep offering highly appealing contents to our Guests visiting our Theme Parks, while discerning the impact of environmental changes brought about by the spread of the novel coronavirus and responding swiftly.
We hope to meet your expectations for the OLC Group’s long-term sustainable growth, and ask for your continued support.
President and COO