Consolidated Financial Statements for the First Quarter ofthe Fiscal Year Ending March 31, 2021 (Japanese accounting standards)
July 30, 2020
These financial statements have been prepared for reference only in accordance with accounting principles and practices generally accepted in Japan.

Oriental Land Co., Ltd.
Code number: 4661, First Section of the Tokyo Stock Exchange
URL: http://www.olc.co.jp/en/
Representative: Kyoichiro Uenishi, Representative Director and President
Contact: Kenji Horikawa, Officer and Director of Finance/Accounting Department
Planned Date for Submission of the Quarterly Report: August 13, 2020Planned Date for Start of Dividend Payment: —Supplementary materials for the quarterly financial statements: Yes
Briefing session on quarterly financial results:
Yes (for institutional investors)

Note: All amounts are rounded down to the nearest million yen.

1. Consolidated Results for the First Quarter of the Fiscal Year Ending March 31, 2021
(April 1, 2020 to June 30, 2020)(1) Consolidated Operating Results (Cumulative total)(Percentages represent change compared with the same period of the previous fiscal year.)
OperatingOrdinaryNet sales
Year-on-year
Year-on-year
Year-on-year
profitprofit(¥ million)change (%)
change (%)
change (%)(¥ million)(¥ million)
6,164(94.9)(15,641)—(15,283)—
120,552(0.2)
31,936
7.1
32,762
7.6

Three months ended June 30, 2020Three months ended June 30, 2019
Note: Comprehensive income:Three months ended June 30, 2020: ¥ (24,261) million (—%)
Three months ended June 30, 2019: ¥20,364 million ((17.2)%)
Profit attributable toYear-on-year
Earnings per share
Earnings per shareowners of parentchange (%)(¥)(diluted) (¥)(¥ million)
Three months ended June 30, 2020
(24,871)—(75.97)—
Three months ended June 30, 201922,923
8.4
69.72
67.46
Note: Earnings per share (diluted) for three months ended June 30, 2020, is not indicated because net loss per share is indicated,
although there are potential common shares with dilutive effects.

(2) Consolidated Financial Position

As of June 30, 2020
As of March 31, 2020
Reference: Shareholders’ equity:

Total assets(¥ million)
963,336
1,010,651

Net assets(¥ million)
788,848820,257

Shareholders’ equityratio(%)
81.9
81.2Net assets per share(¥)
2,409.54
2,505.55

As of June 30, 2020: ¥788,848 million
As of March 31, 2020: ¥820,257 million

2. Dividends
Annual dividends (¥)
First quarter-end

Second quarter-end

Third quarter-end

Year-end

Total

Fiscal Year ended March 31, 2020

—

22.00

—

22.00

44.00

Fiscal Year ending March 31, 2021

—
—

—

—

—

Fiscal Year ending March 31, 2021 (Est.)

Note: Dividends for the second quarter-end and the year-end of the fiscal year ending March 31, 2021 are not indicated as it is difficult toreasonably calculate our forecast of operating results at this point in time.

3. Projected Consolidated Results for the Fiscal Year Ending March 31, 2021
(April 1, 2020 to March 31, 2021)
Projection of consolidated results for the fiscal year ending March 31, 2021 is not indicated as it is difficult to reasonably calculate
our forecast of operating results at this point in time. We will calculate reasonable financial forecast considering our Theme Park
attendance and the situation of the spread of COVID-19 during the second quarter, and disclose with the financial results for thesecond quarter.

*Notes(1) Changes in Major Subsidiaries during the Three Months Ended June 30, 2020: None
(2) Application of Special Accounting Methods for Quarterly Consolidated Financial Statements: None
(3) Changes in Accounting Policies, Changes in Accounting Estimates, or Restatement(a) Changes in accounting policies due to changes in accounting standards: None(b) Changes other than (a) above: None(c) Changes in accounting estimates: None(d) Restatement: None
(4) Number of Shares Issued and Outstanding (Common stock)(a) Number of shares issued at end of period Three months ended
June 30, 2020:(including treasury stock)(b) Number of treasury stock at end ofThree months ended
June 30, 2020:
period(c) Average number of shares outstanding
Three months ended
June 30, 2020:(quarterly cumulative period)

363,690,160
sharesYear ended
March 31, 2020:

363,690,160
shares36,304,332
sharesYear ended
March 31, 2020:

36,313,892
shares327,381,087
sharesThree months ended
June 30, 2019:

328,790,148
sharesNote: Number of treasury stock includes dividends paid to the trust to the employee stock plan.

* The Company’s quarterly consolidated financial statements are not subject to quarterly financial review bycertified public accountants or an auditing firm.
* Explanation on the Appropriate Usage of Performance Projections and Other Specific Matters
The projections and other statements with respect to the future included in this material are based on currently available
information and certain assumptions that are judged reasonable by the Company. Please be advised that the Company
does not guarantee in any way the achievement of the projections and other goals in this material and that cases may
occur where the actual results and other situations differ materially from the projections due to various factors.

Quarterly Consolidated Financial Statements and Key Notes(1) Quarterly Consolidated Balance Sheets
At the end of
the previous fiscal year
(March 31, 2020)

Items(Millions of yen)
At the end of
the first quarter(June 30, 2020)

ASSETS
Current assets
Cash and deposits

261,164

178,083

Notes and accounts receivable—trade

7,225

5,431

Securities

19,9997,485

Merchandise and finished goods

11,67916,931Work in process

172

105

Raw materials and supplies

8,236

9,068

Other8,263

17,379(0)(0)

316,741

234,485

Buildings and structures, net

291,012286,932

Machinery, equipment and vehicles, net

34,55732,916Land

117,653

117,653

Construction in progress

152,165

183,553

Other, net

15,197

13,883

610,586

634,938

Other

16,334

16,274

Total intangible assets

16,334

16,274

Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment

Total property, plant and equipment
Intangible assets

Investments and other assets
67,07877,728

Allowance for doubtful accounts

Other(88)(89)

Total investments and other assets

66,98977,639693,910

728,851

1,010,651

963,336

Total non-current assets
Total assets

1

At the end of
the previous fiscal year
(March 31, 2020)

Items(Millions of yen)
At the end of
the first quarter(June 30, 2020)

LIABILITIESCurrent liabilities
Notes and accounts payable—trade

13,921

7,503

Current portion of long-term loans payable

4,580

4,365

Income taxes payable

7,991

8,098

Other

74,00164,813

Total current liabilities

100,495

84,780Bonds payable

80,00080,000Non-current liabilities
Long-term loans payable

2,488

2,457

Retirement benefit liability

3,537

3,394

Other

3,873

3,855

Total non-current liabilities
Total liabilities

89,89889,707

190,394

174,488

63,201

63,201

NET ASSETS
Shareholders’ equity
Capital stock
Capital surplus

111,970

111,970

Retained earnings

744,452

712,371

Treasury shares(109,325)(109,263)

Total shareholders’ equity

810,298

778,280

9,623

10,2447476

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Total net assets
Total liabilities and net assets

2261

247

9,958

10,568820,257

788,848

1,010,651

963,336(2) Quarterly Consolidated Statements of (Comprehensive) Income(Quarterly Consolidated Statements of Income)Three months ended June 30, 2020Three months ended
June 30, 2019
(April 1, 2019
to June 30, 2019)

Items
Net sales

120,552(Millions of yen)Three months ended
June 30, 2020
(April 1, 2020
to June 30, 2020)
6,164

Cost of sales

72,26912,963Gross profit (loss)

48,282(6,798)Selling, general and administrative expenses

16,345

8,843

Operating profit (loss)

31,936(15,641)

Interest income

40

13Dividend income

443

339

Insurance received and insurance dividends

8829

Non-operating income

Other
Total non-operating income

514

371

1,086

753

Non-operating expenses
Interest expenses

7360

Share of losses of entities accounted for using equity method

20

185

Commission expenses

132

134

Other

34

14

Total non-operating expenses

260

395

32,762(15,283)—※ 21,198

Ordinary profit (loss)
Extraordinary loss
Loss on temporary closure—

21,198

Profit (loss) before income taxes

Total extraordinary loss

32,762(36,481)

Income taxes—current

8,878

113960(11,724)

Total income taxes

Income taxes—deferred

9,838(11,610)

Profit (loss)

22,923(24,871)

Profit (loss) attributable to owners of parent

22,923(24,871)3

(Quarterly Consolidated Statements of Comprehensive Income)Three months ended June 30, 2020Three months ended
June 30, 2019
(April 1, 2019
to June 30, 2019)

Items
Profit (loss)(Millions of yen)Three months endedJune 30, 2020
(April 1, 2020
to June 30, 2020)

22,923(24,871)(2,522)

621

(6)

2

Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Remeasurements of defined benefit plans, net of tax
Total other comprehensive income
Comprehensive income

(28)

(13)

(2,558)610

20,364(24,261)

20,364(24,261)——

Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests4(3) Notes Regarding the Consolidated Financial Statements for the First Quarter Under Review
Notes Regarding Going Concern Assumption: None
Notes Regarding the Occurrence of Significant Changes in Amount of Shareholders’ Equity: None

Additional Information
Impact of COVID-19
The OLC Group’s Theme Parks, which constitute its core business, were temporarily closed along with its
hotels during the first quarter under review. Our Theme Parks resumed operations on July 1, 2020 while
taking measures primarily based on the sector-wide guidelines for preventing the spread of COVID-19 atamusement and theme parks and limiting attendance. It may take some time before we can restore normaloperations, depending on the external environment including trends in consumer sentiment for leisureactivities. As such, the situation of the spread of COVID-19 is expected to exert a material impact on ourconsolidated financial results in and after the second quarter of the fiscal year ending March 31, 2021.
Significant accounting estimates and underlying assumptions
In preparing the consolidated financial statements for the first quarter under review, there have been nosignificant changes from the previous fiscal year in the highly uncertain accounting estimates and theirunderlying assumptions.
Matters Concerning Consolidated Statements of Income* Loss on temporary closure
In view of the spread of COVID-19 and requests from the national and local governments, the OLC
Group temporarily closed Tokyo Disneyland® and Tokyo DisneySea® from February 29 to June 30,
2020. As a result, we primarily registered the fixed expenses, including personnel expenses anddepreciation and amortization expenses, incurred for the Theme Park Segment during the temporary
closure as an extraordinary loss.
As the employment adjustment subsidy to be received from the government as a special measure toaddress the impact of COVID-19, highly accurate amount to be received is reasonably calculated, andhas been deducted from the extraordinary loss.

5Segment Information
1. Three months ended June 30, 2019 (April 1, 2019 to June 30, 2019)
A. Net Sales and Income (Loss) by Reportable Segment(Millions of yen)
Reportable Segments
ThemePark

Hotel

Other
Business*1

Total

Total

Adjustment*2

Amount statedon the Quarterly
Consolidated
Statements ofIncome*3

Net sales
Sales to external
100,179
16,420116,599
3,952
120,552—
120,552
customers
Intersegment
1,717
130
1,848
942
2,790
(2,790)—sales or transfers
Total
101,896
16,551
118,448
4,894
123,342(2,790)120,552
Segment Income
27,182
3,784
30,967911
31,87957
31,936
Notes: 1. The “Other Business” segment, which includes the Ikspiari, monorail, and employee cafeteria businesses, is not
a reportable segment.
2. The segment income adjustment amount of 57 million yen is the result of elimination of intersegment
transactions.
3. The segment income is adjusted to be recorded as operating profit in the Quarterly Consolidated Statements ofIncome.

B. Information regarding impairment loss on fixed assets and goodwill by reportable segment: None

2. Three months ended June 30, 2020 (April 1, 2020 to June 30, 2020)
A. Net Sales and Income (Loss) by Reportable Segment(Millions of yen)
Reportable Segments
Theme
Park

Hotel

Other
Business*1

Total

Total

Adjustment*2

Amount statedon the Quarterly
Consolidated
Statements ofIncome*3

Net sales
Sales to external
5,123
147
5,271
893
6,164
—
6,164
customers
Intersegment
347
62410
675
1,085(1,085)—sales or transfers
Total
5,4712095,681
1,568
7,249
(1,085)
6,164
Segment Loss(11,439)(3,198)(14,637)(1,035)(15,673)31(15,641)
Notes: 1. The “Other Business” segment, which includes the Ikspiari, monorail, and employee cafeteria businesses, is not
a reportable segment.
2. The segment loss adjustment amount of 31 million yen is the result of elimination of intersegment transactions.
3. The segment loss is adjusted to be recorded as operating loss in the Quarterly Consolidated Statements ofIncome.

B. Information regarding impairment loss on fixed assets and goodwill by reportable segment: None6