January 30, 2019
Oriental Land Co., Ltd.

Supplementary Materials: Results for the Third Quarter of the Fiscal Year Ending March 31, 2019
Quarterly Consolidated Statements of Income (Actual/Previous Cumulative Third Quarter)

Quarterly Consolidated Statements of Income (Actual/Previous Cumulative Third Quarter)[A. ¥35.1 Billion (9.6%) Increase in Net Sales](Millions of yen)

Nine months
Nine months
ended Dec. 31, 2018
ended Dec. 31, 2017
(Apr. 1, 2017 to Dec. 31, 2017) (Apr. 1, 2018 to Dec. 31, 2018)

Items

Amount(%)

Amount(%)

Change(Decrease)(1) Net Sales(Millions of yen)

Items
Amount(%)

Net sales
Theme Park Segment
Hotel Business Segment
Other Business Segment

364,496
301,101
50,462
12,933

100.0
82.6
13.8
3.6

399,641
332,808
55,127
11,706

100.0
83.3
13.8
2.9

35,14531,707
4,665(1,227)

9.6
10.5
9.2
(9.5)

Cost of sales
Personnel expenses
Other expenses
Depreciation and amortization

222,199
56,840141,643
23,71561.0

240,743
59,440157,094
24,20860.2

18,5442,600
15,450493

8.3

Gross profit

142,29739.0

158,898

39.8

16,600

11.7

Selling, general and administrative expenses
Personnel expenses
Other expenses
Depreciation and amortization

48,897
17,26727,473
4,155

13.4

52,155
19,81728,358
3,979

13.1

3,257
2,549
885
(176)

6.7

Operating profit
Theme Park Segment
Hotel Business Segment
Other Business Segment[Elimination and Corporate]

93,39978,084
13,273
1,897
144

25.6
21.4
3.7
0.5
0.0

106,743
89,30515,030
2,245
162

26.7
22.3
3.8
0.6
0.0

13,343
11,221
1,757
347
17

14.3
14.4
13.2
18.3
12.1

Non-operating income

2,107

0.6

1,939

0.5

(168)

(8.0)

Non-operating expenses

775

0.2

1,348

0.3

572

73.9

94 731
94,731

26 0
26.0

107 333
107,33326 9
26.9

12 602
12,60213 3
13.3

Nine months
ended
Dec. 31, 2017

Nine months
ended
Dec. 31, 2018

ChangeChange(%)

Primary reasons for changeձ Theme Park Segment
301,101
332,808
31,707
10.5
Attractions and shows
141,232
153,121
11,888
8.4
䞉Increase in Theme Park attendance
Merchandise
102,945
116,733
13,788
13.4
䞉Increase in net sales per Guest
Food and beverages
52,31357,575
5,261
10.1
Others
4,609
5,377
768
16.7
ղ Hotel Business Segment
50,46255,1274,665
9.2
䞉Increase in accommodation revenue due to Tokyo Disney Resort
Disney Hotels*
43,387
48,1384,750
11.0
䞉35th Anniversary events
Others
7,074
6,989(85)(1.2)
ճ Other Business Segment
12,933
11,706(1,227)(9.5)
Ikspiari
6,431
4,993
(1,438)(22.4) 䞉Decrease due to sale of directly managed restaurants in the Ikspiari
Monorail
3,382
3,534
151
4.5 䞉business
Others
3,118
3,178
59
1.9
*Including Disney Ambassador Hotel, Tokyo DisneySea Hotel MiraCosta, Tokyo Disneyland Hotel and Tokyo Disney Celebration Hotel.

Aձղճ(2) Theme Park Information [Year-on-year comparison]
Items
ChangePrimary reasons for change

Increased

䞉,QFUHDVHGXHWR7RN\R'LVQH\5HVRUWWK$QQLYHUVDU\HYHQWVAttendanceBմյնNet sales per Guest

Increased slightly

Ticket receipts

Essentially unchanged

Merchandise

Increased

䞉,QFUHDVHGXHWRVWURQJVDOHVRI7RN\R'LVQH\5HVRUWWK$QQLYHUVDU\HYHQWVUHODWHGSURGXFWVFood and beverages

Increased䞉Increase due to generation of dining opportunities[B. ¥13.3 Billion (14.3%) Increase in Operating Profit]
Ordinary profit
Profit before income taxes

96,068

Income taxes
ProfitProfit attributable to owners of parent

26.4

107,333

26.9

11,265

11.7

26,616

7.3

69,452

19.1

32,973

8.3

6,357

23.9

74,360

18.6

4,908

7.1

69,452

19.1

74,360

18.6

4,908

7.1

[Reference] The Consolidated Cumulative Third Quarter (April 1, 2018 to December 31, 2018)

Net SalesNet Sales
Tokyo Disney
Resort 30th
Anniversary

1Q Operating Profit

Operating Margin
Tokyo Disney
Resort 35th
Anniversary

Tokyo DisneySea
Impact of15th
the Anniversaryearthquake

2Q Operating Profit

354.4

352.1

Tokyo Disney
Resort 30thAnniversary

Tokyo Disney
Resort 35thAnniversary

Tokyo DisneySea
15th Anniversary

Record High
106.7

364.4

91.3

92.1

92.1

37.3

40.0

38.8

12/10

12/11

12/12

12/13

12/14


12/15


12/16


12/17


89,305

11,221

յ Hotel Business Segment

13,273

15,0301,757

䞉Increase in net sales
13.2 䞉Increase in personnel expenses
䚷- Increase due to appearance of performance bonus, etc.

ն Other Business Segment

1,897

2,245

347

18.3

࣭ Operating profit increased due to an increase in net sales for the Theme Park Segment and Hotel Business Segment, offsetting the rise in expenses related to32.0
29.1

12/14

29.5

30.4

31.0

Tokyo Disney Resort 35th Anniversary events, etc.

(2) Comparison with the forecast: Both net sales and operating profit exceeded the forecast
࣭ Although net sales per Guest stayed as it was estimated, both net sales and operating profit exceeded the forecasts by surpassing the projected
25.8

12/13


78,084

Tokyo Disney Resort 35th Anniversary events.

25.6%
32.5

12/09

մ Theme Park Segment

䞉Increase in net sales
䞉Increase in merchandise and food/beverages sales cost ratio [¥(0.7 billion)]䞉Increase in personnel expenses [¥(3.8 billion)]䚷- Increase due to appearance of performance bonus [¥(2.0 billion)]䚷- Increase in personnel expenses for part-time employees [¥(1.4 billion)]䚷- Increase in other factors [¥(0.4 billion)]
14.4
䞉Increase in miscellaneous costs [¥(4.2 billion)]䚷- Increase in Tokyo Disney Resort 35th Anniversary events related costs[¥(2.6 billion)]䚷- Increase in computer-system-related expenses [¥(1.0 billion)]䚷- Increase in maintenance expenses [¥(0.7 billion)], etc.
䞉Increase in depreciation and amortization expenses [¥(0.6 billion)]

1. Net Sales and Operating Profit for the Cumulative Third Quarter Results(1) Year-on-year comparison: Both net sales and operating profit increased
࣭ Net sales increased due to a rise in Theme Park attendance and net sales per Guest in the Theme Park Segment on the back of successful

37.2

26.7%
25.5%

Primary reasons for change[Overview]

27.6%
26.0%

Change
(%)

93.3
44.8

42.6

25.9%

Change3Q Operating Profit

101.0
360.5

Nine months
ended
Dec. 31, 2018

(Billions of yen)

Record High
399.6
366.2

Nine months
ended
Dec. 31, 2017Quarterly Operating Profit

Net Sales and Operating Margin
Operating Margin(Millions of yen)

Items

12/18



12/13

24.7

12/14

22.5

12/15

22.7

12/16

25.0

12/17

29.8

Theme Park attendance.

2. Profit Attributable to Owners of Parent for the Cumulative Third Quarter
jgp
gp
figuredue to operating
profit࣭ Profit attributable to owners of pparent exceeded that recorded in the same pperiod of the pprevious fiscal yyear and the pprojected
12/18

surpassing those recorded in the same period of the previous fiscal year and the projected figures, although the tax effect of subsidiaries, etc. recorded in thesame period of the previous fiscal year is not present.

3. Forecasts for the Full Year
࣭ Although the result of cumulative third quarter was as noted above, our forecasts for the full year will not be revised for now.

1

January 30, 2019
Oriental Land Co., Ltd.

Supplementary Materials: Results for the Third Quarter of the Fiscal Year Ending March 31, 2019
Theme Parks Event Calendar for the Fiscal Year Ending March 2019
Tokyo Disney Resort 35th "Happiest Celebration!" Apr.15, 2018 to Mar.25, 2019

◆MayApr.15 Start of New Daytime Parade“Dreaming Up!”

JuneJuly☆ Jun.7 - Jul.7

SeptemberAugustOctober◆

NovemberDecember★ Jul.10 - Sep.2★ Sep.11 - Oct.31★ Nov.8 - Dec.25

Disney Natsu Matsuri

Disney's Halloween

Disney ChristmasJanuary

NewFebruary★ Jan.11 - Mar.25 Tokyo Disney Resort
35th "Happiest Celebration!" Grand Finale“Celebrate! Tokyo Disneyland”

Jul.10 Start of New Show at
Theatre Orleans "Let's Party Gras!"Jan.1 - 6
New Year's Program☆

★ Mar.27 - Jun.6★ Jul.10 - Sep.2★ Sep.11 - Oct.31★ Nov.8 - Dec.25★ Jan.11 - Mar.25

Disney's Easter

Disney Pirates Summer

Disney's Halloween

Disney Christmas

Pixar Playtime☆ Jun.7 - Jul.7
Disney Tanabata Days

◆March◆ Jul.10, 2018 - Apr. 26, 2019 Nighttime Spectacular

New

Disney Tanabata Days

◆ Apr.15 Re-opening of Attraction“it’s a small world”

Tokyo DisneySea

Tokyo DisneylandApril

Jan.1 - 6
New Year's ProgramJul.10 Start of New Show atDockside Stage "Hello, New York!"☆ Jan.11 - Mar.25☆

Duffy's Heartwarming Days

◆ Apr.15, 2018 - Mar.25, 2019

New

Greeting Show at Mediterranean Harbor "Happiest Celebration on the Sea"

New

☆ Jan.7 - Mar.20
Tower of Terror: "Unlimited"

Theme Parks Event Calendar for the Fiscal Year Ending March 2020

◆May★: Special eventsJuneJulyAugust

SeptemberOctoberNovemberDecember★ Apr.4 - Jun.2☆ Jun.6 - Jul.7★ Sep.10 - Oct.31★ Nov.8 - Dec.25

Disney's Easter

Disney Tanabata Days

Disney's Halloween

Disney Christmas

Jul.10, 2018 - Apr.26, 2019
Nighttime Spectacular“Celebrate! Tokyo Disneyland”

New★ Jul.9 - Sep.1

Jan.1 - 5
New Year's Program

Donald's Hot Jungle SummerJanuary

NewFebruary☆ Jan.10 - Mar.19
Special Program☆

★ Apr.4 - Jun.2☆ Jun.6 - Jul.7★ Jul.9 - Sep.1★ Sep.10 - Oct.31★ Nov.8 - Dec.25★ Jan.10 - Mar.19

Disney's Easter

Disney Tanabata Days

Disney Pirates Summer

Disney's Halloween

Disney Christmas

Pixar Playtime

Tokyo DisneySea

Tokyo DisneylandApril

New☆: Programs☆ Jun.6 - Aug.27

Jan.1 - 5
New Year's Program

Duffy's Sunny Fun◆

Jul.23 Opening of New Attraction"Soaring: Fantastic Flight"◆

Jul.23 Start of New Show at Hangar Stage"Song of Mirage"◆: New attractions and shows※Program titles, contents, and dates are subject to change.
※Plans announced as of January 30, 20192☆

☆ Jan.10 - Mar.19
Duffy-related Program

March