Message from President

A message to stockholders and investors from Kyoichiro Uenishi, Representative Director, President and COO of Oriental Land Co., Ltd.

“Recovering Steadily and Continuing to Grow into the Future”


First of all, I wish to take this opportunity to offer my deepest sympathies to everyone who has suffered damage from or been affected by the Great East Japan Earthquake. All of us at OLC pray for the rapid reconstruction and recovery of the devastated areas and for the health and well-being of all those affected.
   I also offer my apologies to all of our stockholders for the concern we have caused during the park closure following the Great East Japan Earthquake. I would like to thank all of you for your continued support throughout these hard times.

Record-Breaking Operating Income in the Second Quarter

In the first half of the fiscal year ending March 31, 2012, both net sales and operating income decreased due to the impacts of the suspension of operations in the first quarter and other factors. However, in the second quarter, the introduction of new products and the recovery of consumer confidence resulted in phased increases in attendance.
   Subsequently, the number of theme park attendance in the second quarter reached an all-time high, and net sales showed significant improvements. Further, in addition to these factors, our thorough cost control efforts allowed us to achieve record-breaking operating income.
   I believe that our ability to recover operating results to this level regardless of the harsh operating environment, in the wake of the earthquake and the following electricity shortages, was due to the support of all of our stockholders. I hope that we can continue to receive your support into the future.

Four Consecutive Years of Record-Breaking Income

Due to impacts of the Great East Japan Earthquake, we did not release forecasts for operating results in the fiscal year under review. However, we have now announced forecasts based on our performance in the first half of the fiscal year. We are anticipating a new record operating income in the second half of the fiscal year. Subsequently, we believe that the full-year figure for operating income will be ¥55.8 billion, making for our fourth consecutive year of record-breaking income.
   Also, in the fiscal year under review, we intend to issue cash dividends of ¥100 per share. Going forward, we will strive to maintain the stability of dividend payments while taking into consideration conditions in the operating environment.


Steady Implementation of the 2013 Medium-Term Plan

Our current medium-term financial target is to achieve operating income of approximately ¥60.0 billion, the target level before the Great East Japan Earthquake, within the period of the 2013 Medium-Term Plan.
   To accomplish this goal, we are planning the opening of new attractions, including “Toy Story Mania!,” scheduled to open in summer 2012, and “Goofy's Paint and Playhouse,” scheduled to open in fall 2012. Moreover we plan to celebrate Tokyo Disney Resort 30th Anniversary in 2013. Looking ahead, we will continue enhancing the value of Tokyo Disney Resort by effectively combining new attraction introductions and the launch of anniversary year events. In this manner, we are steadily advancing the initiatives outlined in the 2013 Medium-Term Plan.
   I hope you will all continue to look forward to the future of the OLC Group.

Sincerely,

Representative Director, President and COO
November 2011
Related Information