Consolidated Financial Statements for the Second Quarter of
the Fiscal Year Ending March 31, 2023 (Japanese accounting standards)
October 27, 2022
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, Prime Market of the Tokyo Stock Exchange
URL: http://www.olc.co.jp/en/
Representative: Kenji Yoshida, Representative Director and President
Contact: Yutaka Yokoyama, Director of Finance/Accounting Department
Planned Date for Submission of the Quarterly Report: November 14, 2022
Planned Date for Start of Dividend Payment: December 5, 2022
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, 2023
(April 1, 2022 to September 30, 2022)(1) Consolidated Operating Results (Cumulative total)(Percentages represent change compared with the same period of the previous fiscal year.)Net sales(¥ million)
204,043
97,568Six months ended September 30, 2022
Six months ended September 30, 2021

Operating profit (loss)
(%)
109.1
65.0

(¥ million)
37,993(19,380)(%)——

Ordinary profit (loss)(¥ million)
38,584(18,598)(%)——

Note: Comprehensive income:Six months ended September 30, 2022: ¥ 29,077 million (—%)
Six months ended September 30, 2021: ¥ (12,879) million (—%)
Profit (Loss) attributable to owners of parent

Earnings per share

Earnings per share(diluted)
(¥)
79.57
—

(¥ million)(%)(¥)
Six months ended September 30, 2022
26,459—80.78—
Six months ended September 30, 2021
(14,191)(43.34)
Note: Earnings per share (diluted) for six months ended September 30, 2021, is not indicated because net loss per share isindicated, although there are potential common shares with dilutive effects.
(2) Consolidated Financial Position
Total assets(¥ million)
1,115,681
1,086,884

As of September 30, 2022
As of March 31, 2022
Reference: Shareholders’ equity:
As of September 30, 2022: ¥781,205 million

Shareholders’ equity
ratio(%)
70.0
69.6

Net assets(¥ million)
781,205756,317

Net assets per share(¥)
2,384.83
2,309.12

As of March 31, 2022: ¥756,317 million

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

Second quarter-end

Third quarter-end

Year-end

Total

Fiscal Year ended March 31, 2022

—

13.00

—

15.00

28.00

Fiscal Year ending March 31, 2023

—

18.00
—

18.00

36.00

Fiscal Year ending March 31, 2023 (Est.)
Note: Revisions to the latest announcement regarding dividend projection: Yes

3. Projected Consolidated Results for the Fiscal Year Ending March 31, 2023
(April 1, 2022 to March 31, 2023)(Percentages represent change compared with the previous fiscal year or the same quarter of the previous fiscal year, as applicable.)
Profit (Loss)
Operating profit
Earnings
Net sales
Ordinary profit (loss)
attributable to(loss)
per shareowners of parent(¥ million)(%)(¥ million)(%)(¥ million)(%)(¥ million)(%)(¥)
Fiscal Year ending
442,12860.3
80,088935.7
80,612614.8
55,917593.1
170.71March 31, 2023
Note: Revisions to the latest announcement regarding result projection: Yes*Notes(1) Changes in Major Subsidiaries during the Six Months Ended September 30, 2022 (Changes in specified subsidiaries
due to changes in the scope of consolidation): 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: Yes(b) Changes other than (a) above: None(c) Changes in accounting estimates: None(d) Restatement: None
Note: For details, please refer to Change in Accounting Policy in (3) Notes Regarding the Consolidated Financial Statements for
the Second Quarter Under Review on page 5.

(4) Number of Shares Issued and Outstanding (Common stock)(a) Number of shares issued at end of period Six months ended
September 30, 2022:(including treasury stock)(b) Number of treasury stock at end ofSix months ended
September 30, 2022:
period(c) Average number of shares outstanding
Six months ended
September 30, 2022:(quarterly cumulative period)

363,690,160
sharesYear ended
March 31, 2022:

363,690,160
shares36,117,482
sharesYear ended
March 31, 2022:

36,154,941
shares327,552,568
sharesSix months ended
September 30, 2021:

327,481,610
sharesNote: Number of treasury stock includes shares owned by the ESOP trust account of 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, 2022)

Items(Millions of yen)
At the end of
the second quarter(September 30, 2022)

ASSETS
Current assets
Cash and deposits

199,870

192,257

Notes and accounts receivable—trade, and contract assets

15,581

22,697

Securities

34,99750,998Merchandise and finished goods

6,062

10,717

109

341

Raw materials and supplies

Work in process

8,783

8,986

Other

6,016

6,219

ሺ10)

(10)

271,410292,208

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

322,830

340,685

Machinery, equipment and vehicles, net

44,831

40,573

Land

115,890

115,890

Construction in progress

218,731216,912

Other, net

17,95815,647

Total property, plant and equipment

720,241

729,709

Other

18,32918,005

Total intangible assets

18,32918,005Intangible assets

Investments and other assets
76,99875,853

Allowance for doubtful accounts

Other

ሺ95)

(95)

Total investments and other assets

76,90375,758

Total non-current assets
Total assets

1

815,474

823,473

1,086,884

1,115,681

At the end of
the previous fiscal year
(March 31, 2022)(Millions of yen)
At the end of
the second quarter(September 30, 2022)

Notes and accounts payable—trade

12,164

14,324Current portion of long-term borrowings

5,246

5,383

Items
LIABILITIESCurrent liabilities

Income taxes payable

2,578

7,371

Other

65,25862,518

Total current liabilities

85,24789,597230,000

230,000

Non-current liabilities
Bonds payable
Long-term borrowings

7,401

6,440

Retirement benefit liability

3,641

3,903

Other

4,276

4,533

Total non-current liabilities

245,320

244,878

330,567

334,476

Share capital

63,201

63,201

Capital surplus

115,005

115,036

Retained earnings

678,566

700,108

Treasury shares(113,257)(112,559)

Total shareholders’ equity

743,515765,786

10,741

13,510172

134

Total liabilities
NET ASSETS
Shareholders’ equity

Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Remeasurements of defined benefit plans

1,886

1,774

Total accumulated other comprehensive income

12,801

15,419756,317781,205

1,086,884

1,115,681

Total net assets
Total liabilities and net assets2(2) Quarterly Consolidated Statements of (Comprehensive) Income(Quarterly Consolidated Statements of Income)Six months ended September 30, 2022
Six months ended
September 30, 2021

Items

(April 1, 2021
to September 30, 2021)

Net sales(Millions of yen)Six months ended
September 30, 2022
(April 1, 2022
to September 30, 2022)

97,568204,043*1 90,350*1 130,490

7,217

73,553

Selling, general and administrative expenses*1 26,598*1 35,559

Operating profit (loss)(19,380)

37,993

Cost of sales
Gross profit (loss)

Non-operating income
Interest income

69

54

Dividend income

313

287

Insurance received and insurance dividends
Subsidy income
Other

266

258

*2 1,000*2 194

668

483

2,318

1,279

Interest expenses

237

180

Share of loss of entities accounted for using equity method

244

25

Commission expenses

445

268

Depreciation

438—

Total non-operating income
Non-operating expenses

Other

170

213

1,536

687

Ordinary profit (loss)(18,598)

38,584

Profit (Loss) before income taxes(18,598)

38,584

Total non-operating expenses

Income taxes—current

154

6,368

Income taxes—deferred(4,560)5,756

Total income taxes(4,406)

12,125

Profit (Loss)(14,191)

26,459Profit (Loss) attributable to owners of parent(14,191)

26,4593

(Quarterly Consolidated Statements of Comprehensive Income)Six months ended September 30, 2022
Six months ended
September 30, 2021
(April 1, 2021
to September 30, 2021)

Items
Profit (Loss)(Millions of yen)Six months ended
September 30, 2022
(April 1, 2022
to September 30, 2022)(14,191)

26,459Other comprehensive income
Valuation difference on available-for-sale securities

1,431

2,768

Deferred gains or losses on hedges

(15)

ሺ38)

Remeasurements of defined benefit plans, net of tax

(103)

ሺ112)

Total other comprehensive income
Comprehensive income

1,312

2,618

(12,879)

29,077(12,879)

29,077——

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 Second Quarter Under Review
Notes Regarding Going Concern Assumption: None
Notes Regarding the Occurrence of Significant Changes in Amount of Shareholders’ Equity: None
Change in Accounting Policy
Application of Implementation Guidance on Accounting Standard for Fair Value Measurement
The “Implementation Guidance on Accounting Standard for Fair Value Measurement” (ASBJ Guidance No. 31,
June 17, 2021; hereinafter, “the Implementation Guidance”) has been applied since the beginning of the first quarterof the current consolidated fiscal year. In accordance with the transitional treatment prescribed in Paragraph 27-2 ofthe Implementation Guidance, the Company has decided to apply the new accounting policies set forth by the
Implementation Guidance going forward.
The change had no impact on the Company’s quarterly consolidated financial statements.
Additional Information
Impact of COVID-19
The OLC Group’s Theme Parks, which constitute its core business, take measures primarily based on the
sector-wide guidelines for preventing the spread of COVID-19. It may take some time before we can restore normal
operations, depending on the external environment including trends in consumer sentiment for leisure activities. As
such, the situation of the spread of COVID-19 is expected to exert an impact on our consolidated financial results.
Significant accounting estimates and underlying assumptions
In preparing the consolidated financial statements for the second quarter under review, there have been no significant
changes from the previous fiscal year in the highly uncertain accounting estimates and their underlying assumptions.
Matters Concerning Consolidated Statements of Income*1 Employment adjustment subsidies
The OLC Group has been applied to special case of employment adjustment subsidy for paid treatments toprevent the spread of the COVID-19 pandemic. As a result, the employment adjustment subsidy received or
expected to be received from the government has been registered by deducting ¥6,313 million from the cost of
sales and ¥183 million from the selling, general and administrative expenses in the previous second quarter ofthe fiscal year ended March 31, 2022. The employment adjustment subsidy was also deducted from the cost of
sales and selling, general and administrative expenses for the second quarter under review, but the impact isminor.
*2 Subsidy income
This is the income from the subsidies for cooperation paid by local governments for the reduction of operating
hours in an effort to prevent the spread of COVID-19.

5

Segment Information
1. Six months ended September 30, 2021 (April 1, 2021 to September 30, 2021)
A. Net Sales and Profit (Loss) by Reportable Segment and Breakdown of Revenue
Reportable Segments
Theme
Park

Hotel

Other
Business*1

Total

Total

(Millions of yen)Amount statedon theAdjustment
Quarterly
Consolidated*2
Statements ofIncome*3

Net sales
Attractions and35,831—35,831—35,831—35,831shows
Merchandise
25,380—25,380—25,380—25,380Food and
12,299—12,299—12,299—12,299beverages
Other revenue
1,660
—
1,660
—
1,660
—
1,660
Hotel
—
18,03818,038—18,038—18,038
Other
—
—
—
4,357
4,357
—
4,357
Revenues from75,172
18,03893,2104,357
97,568—97,568external customers
Transactions with
2,628
206
2,835
1,727
4,562
(4,562)—other segments
Total
77,801
18,24596,046
6,084
102,131(4,562)
97,568Segment profit (loss)(18,067)(512)(18,580)(955)(19,535)
155(19,380)
Notes: 1. The “Other Business” segment, which includes the Ikspiari, monorail, and employee cafeteria businesses, etc. is
not a reportable segment.
2. The segment profit (loss) adjustment amount of 155 million yen is the result of elimination of intersegment
transactions.
3. The segment profit (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: None
2. Six months ended September 30, 2022 (April 1, 2022 to September 30, 2022)
A. Net Sales and Profit (Loss) by Reportable Segment and Breakdown of Revenue
Reportable Segments
Theme
Park

Hotel

Other
Business*1

Total

Total

(Millions of yen)Amount statedon theAdjustment
Quarterly
Consolidated*2
Statements ofIncome*3

Net sales
Attractions and81,757—81,757—81,757—81,757shows
Merchandise
51,191—
51,191—
51,191—
51,191
Food and
28,645—28,645—28,645—28,645
beverages
Other revenue
3,005
—
3,005
—
3,005
—
3,005
Hotel
—
33,842
33,842—
33,842—
33,842
Other
—
—
—
5,600
5,600
—
5,600
Revenues from
164,600
33,842
198,443
5,600
204,043—
204,043
external customers
Transactions with
4,176
328
4,505
1,995
6,501
(6,501)—other segments
Total
168,777
34,170202,948
7,596
210,544(6,501)
204,043
Segment profit (loss)
31,343
6,943
38,287(428)
37,858134
37,993
Notes: 1. The “Other Business” segment, which includes the Ikspiari, monorail, and employee cafeteria businesses, etc. is
not a reportable segment.
2. The segment profit (loss) adjustment amount of 134 million yen is the result of elimination of intersegment
transactions.
3. The segment profit (loss) is adjusted to be recorded as operating profit in the Quarterly Consolidated Statementsof Income.
B. Information regarding impairment loss on fixed assets and goodwill by reportable segment: None6

Significant Subsequent Events
Significant capital expenditure
At its Board of Directors’ meeting held on October 27, 2022, Oriental Land Co., Ltd. resolved to change the opening
schedule and investment amount for Fantasy Springs, its eighth theme port, currently being developed under the
Tokyo DisneySea Large-Scale Expansion Project.
(1) Reason for the changes
The opening schedule was postponed due to the extension of the construction period, which was attributable tothe impact of the COVID-19 pandemic in the form of restrictions on entry into Japan, logistics slowdowns, anddelays in overseas manufacturing. The investment amount was increased owing to a rise in material andpersonnel expenses, the sophistication of design, planning and construction methods, and the progressive
depreciation of the yen, among other factors, in addition to the extended construction period.
(2) Details of the changes
Openingschedule
Investment
amountInitial plan
By the end of the fiscal year
ending March 31, 2024

Revised plan
First quarter of the fiscal year ending
March 31, 2025

Approx. 250.0 billion yen

Approx. 320.0 billion yen

7