Consolidated Financial Statements for the Second Quarter of
the Fiscal Year Ending March 31, 2019 (Japanese accounting standards)
October 30, 2018
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: Tomoyuki Shimoda, Officer and Director of Finance/Accounting Department
Planned Date for Submission of the Quarterly Report: November 13, 2018
Planned Date for Start of Dividend Payment: December 6, 2018
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 Second Quarter of the Fiscal Year Ending March 31, 2019
(April 1, 2018 to September 30, 2018)(1) Consolidated Operating Results (Cumulative total)(Percentages represent change compared with the same period of the previous fiscal year.)
OperatingOrdinary
Net sales
Year-on-year
Year-on-year
Year-on-year
profitprofit(¥ million)change (%)
change (%)
change (%)(¥ million)(¥ million)
250,691
7.8
61,882
10.2
62,6089.5
232,583
2.2
56,136
5.4
57,1595.1

Six months ended Sept. 30, 2018
Six months ended Sept. 30, 2017
Note: Comprehensive income:Six months ended September 30, 2018: ¥47,935 million (4.5%)
Six months ended September 30, 2017: ¥45,861 million (37.6%)

Six months ended Sept. 30, 2018
Six months ended Sept. 30, 2017

Profit attributable toowners of parent(¥ million)
43,36942,485Year-on-yearchange (%)

Earnings per share
(¥)

2.1
11.5

Diluted earnings per share(¥)

131.94128.92

128.62123.58(2) Consolidated Financial Position
Total assets(¥ million)
943,751
910,673

As of September 30, 2018
As of March 31, 2018
Reference: Shareholders’ equity:
As of September 30, 2018: ¥763,645million
As of March 31, 2018: ¥721,976million

Net assets(¥ million)
763,645
721,976

Shareholders’ equity
ratio (%)
80.9
79.3

Net assets per share(¥)
2,323.00
2,196.56

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

Second quarter-end

Third quarter-end

Year-end

Total

Fiscal year ended March 31, 2018

—

20.00

—

20.00

40.00

Fiscal year ending March 31, 2019

—

20.00
—

20.00

40.00

Fiscal year ending March 31, 2019 (Est.)
Note: Revisions to the latest announcement regarding dividend projection: None

3. Projected Consolidated Results for the Fiscal Year Ending March 31, 2019
(April 1, 2018 to March 31, 2019)
Net sales(Percentages represent change compared with the previous fiscal year.)
Earnings
Profit attributable toOperating profit
Ordinary profit
per shareowners of parent(¥ million)(%)(¥ million)(%)(¥ million)(%)(¥)(¥ million)(%)
Fiscal Year ending
500,860
4.5
113,470
2.9
March 31, 2019
Note: Revisions to the latest announcement regarding result projection: None

114,8102.8

80,030(1.4)

243.46Notes(1) Changes in Major Subsidiaries during the Six Months Ended September 30, 2018: 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 in accounting policies due to 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
Six months ended(including treasury stock)
September 30, 2018(b) Number of treasury stock at end of period(c) Average number of shares outstanding(quarterly cumulative period)

363,690,160 sharesYear ended
March 31,2018

363,690,160 shares

Six months endedSeptember 30, 2018

34,958,184 sharesYear ended
March 31,2018

35,004,817shares

Six months ended
September 30, 2018328,709,170 shares

Six months ended
September 30, 2017329,547,203 shares

Notes: 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
Items

At the end of the previous
fiscal year
(March 31, 2018)(Millions of yen)
At the end of the secondquarter(September 30, 2018)296,350

308,219ASSETS
Current assets
Cash and deposits
Notes and accounts receivable—trade

19,99018,704

Securities

21,70919,998Merchandise and finished goods

10,301

12,441

177

233

Raw materials and supplies

7,494

7,987

Other

3,113

5,536

Work in process

Allowance for doubtful accounts
Total current assets

(2)

(3)

359,134

373,118

275,508

272,805

Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net

27,19329,057

Land

117,653

117,653

Construction in progress

38,74749,643

Other, net

14,47515,035

Total property, plant and equipment

473,578

484,194

Other

8,865

9,235

Total intangible assets

8,865

9,235

69,186

77,292Intangible assets

Investments and other assets
Other
Allowance for doubtful accounts

(91)

(90)

Total investments and other assets

69,095

77,202551,539

570,632

910,673

943,751

Total non-current assets
Total assets

1

ItemsAt the end of the previous
fiscal year
(March 31, 2018)(Millions of yen)
At the end of the secondquarter(September 30, 2018)

17,557

14,072

LIABILITIESCurrent liabilities
Notes and accounts payable—trade
Current portion of long-term loans payable

4,845

4,906

Income taxes payable

19,98918,322

Other

81,23075,627

Total current liabilities

123,623

112,929

Bonds payable

50,00050,000Long-term loans payable

4,739

4,127

Non-current liabilities

Net defined benefit liability

4,631

4,976

Other

5,702

8,072

Total non-current liabilities

65,07367,176

188,697

180,105

Total liabilities
NET ASSETS
Shareholders’ equity
Capital stock

63,201

63,201Capital surplus

111,911

111,938

Retained earnings

619,599

656,386

Treasury shares(89,794)(89,503)

Total shareholders’ equity

704,918742,021

15,585

20,134

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges

(314)

2

Remeasurements of defined benefit plans

1,787

1,486

Total accumulated other comprehensive income

17,05821,623

Total net assets
Total liabilities and net assets

2

721,976763,645

910,673

943,751

(2) Quarterly Consolidated Statements of (Comprehensive) Income(Quarterly Consolidated Statements of Income)Six months ended September 30, 2018
Six months ended
September 30, 2017
(April 1, 2017
to September 30, 2017)

Items(Millions of yen)Six months ended
September 30, 2018
(April 1, 2018
to September 30, 2018)

Net sales

232,583

250,691

Cost of sales

144,193

154,518

Gross profit

88,39096,173

Selling, general and administrative expenses

32,25334,290Operating profit

56,136

61,882Non-operating income
Interest income

9271

Dividend income

447

401

Share of profit of entities accounted for using equity method96―

Insurance received and insurance dividends

391

399

Other
Total non-operating income

526

530

1,554

1,403

Non-operating expenses
Interest expenses

104

103

Share of loss of entities accounted for using equity method―

217

Commission fee

303

263

Other

123

94

Total non-operating expenses

531

677

Ordinary profit

57,15962,608

Profit before income taxes

57,15962,608

Income taxes—current

17,104

18,650

Income taxes—deferred(2,429)

588

Total income taxes

14,674

19,238

Profit42,48543,369Profit attributable to owners of parent

42,48543,3693(Quarterly Consolidated Statements of Comprehensive Income)Six months ended September 30, 2018
Six months ended
September 30, 2017
(April 1, 2017
to September 30, 2017)

ItemsProfit(Millions of yen)Six months ended
September 30, 2018
(April 1, 2018
to September 30, 2018)

42,48543,369

3,241

4,549

174

317

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

(39)

(300)

3,376

4,565

45,86147,93545,86147,935――Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests4(3) Notes Regarding Going Concern Assumption: None
(4) Additional Information(Application of “Partial Amendments to Accounting Standard for Tax Effect Accounting”)
The Company has applied the “Partial Amendments to Accounting Standard for Tax Effect Accounting”(Accounting Standards Board of Japan (ASBJ) Statement No. 28 issued on February 16, 2018) from the firstquarter of the current fiscal year. Accordingly, the Company presents deferred tax assets under investments andother assets and deferred tax liabilities under non-current liabilities.
(5) Segment Information
1. Six months ended September 30, 2017 (April 1, 2017 to September 30, 2017)
A. Net Sales and Income (Loss) by Reportable Segment(Millions of yen)
Reportable Segments
ThemeParkNet sales
Sales to externalcustomers
Intersegment sales
or transfers
Total
Segment Income

Hotel

OtherBusiness*1

Total

Total

Adjustment*2

Amount statedon the Quarterly
Consolidated
Statements ofIncome*3

191,957

32,022

223,980

8,603

232,583—232,583

3,293

291

3,584

1,836

5,421(5,421)—

195,251
47,15532,313
7,633

227,564
54,78910,4391,232

238,004
56,022(5,421)
114

232,583
56,136

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 114 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. Six months ended September 30, 2018 (April 1, 2018 to September 30, 2018)
A. Net Sales and Income (Loss) by Reportable Segment(Millions of yen)
Reportable Segments
ThemeParkNet sales
Sales to externalcustomers
Intersegment sales
or transfers
Total
Segment Income

Hotel

Other
Business*1

Total

Total

Adjustment*2

Amount statedon the Quarterly
Consolidated
Statements ofIncome*3

207,90735,179243,086

7,604

250,691―

250,691

3,448

331

3,780

1,849

5,629

(5,629)―211,356
51,42035,5109,024246,866
60,444

9,454
1,311

256,32161,755(5,629)126

250,691
61,882

Notes: 1. The “Other Business” segment, which includes the Ikspiari, monorail, and employee cafeteria businesses, is nota reportable segment.
2. The segment income adjustment amount of 126 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

(6) Note Regarding the Occurrence of Significant Changes in Amount of Shareholders’ Equity: None5