Consolidated Financial Statements for the First Quarter of
the Fiscal Year Ending March 31, 2025 (Japanese accounting standards)
July 30, 2024
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: https://www.olc.co.jp/en/
Representative: Kenji Yoshida, Representative Director and President
Contact: Tsutomu Takahashi, Director of Finance/Accounting Department
Planned 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, 2025
(April 1, 2024 to June 30, 2024)(1) Consolidated Operating Results (Cumulative total)(Percentages represent change compared with the same period of the previous fiscal year.)Net sales(¥ million)
148,421140,604

Operating profit (loss)
(%)
5.6
43.2

Three months ended June 30, 2024
Three months ended June 30, 2023
Note: Comprehensive income:Three months ended June 30, 2024: ¥ 19,032 million ((48.6)%)
Three months ended June 30, 2023: ¥ 37,046 million (181.6%)(¥ million)
33,336
38,680(%)(13.8)
126.7

Ordinary profit (loss)(¥ million)
34,05839,058(%)(12.8)
123.2

Earnings per share(diluted)(¥ million)
(%)
(¥)
(¥)
Three months ended June 30, 2024
24,451(10.9)
14.92—
Three months ended June 30, 2023
27,439
126.7
16.75
16.45
Note: Earnings per share (diluted) for three months ended June 30, 2024 is not indicated because there is no potential common share withdilutive effects.
Profit (Loss) attributable to owners of parent

Earnings per share(2) Consolidated Financial Position
As of June 30, 2024
As of March 31, 2024
Reference: Shareholders’ equity:

Total assets(¥ million)
1,314,910
1,355,215

Net assets(¥ million)
955,762
949,563

Shareholders’ equity
ratio (%)
72.7
70.1

Net assets per share(¥)
583.31
579.56

As of June 30, 2024: ¥955,762 million
As of March 31, 2024: ¥949,563 million

2. Dividends
First quarterend

Second quarterend

Annual dividends (¥)
Third quarterend

Fiscal Year ended March 31, 2024

—

5.00

Fiscal Year ending March 31, 2025—
7.00

Fiscal Year ending March 31, 2025 (Est.)

Note: Revisions to the latest announcement regarding dividend projection: None

Year-end

Total

—

8.00

13.00

—

7.00

14.00

3. Projected Consolidated Results for the Fiscal Year Ending March 31, 2025
(April 1, 2024 to March 31, 2025)(Percentages represent change compared with the previous fiscal year or the same quarter of the previous fiscal year, as applicable.)
Profit (Loss) attributable Earnings per
Net sales
Operating profit (loss) Ordinary profit (loss)
share
to owners of parent(¥ million)(%)(¥ million)(%)(¥ million)(%)(¥ million)(%)(¥)
Six months ending
314,966
10.8
69,249(10.1)
70,455(9.4)
48,424(11.2)
29.55
September 30, 2024
Fiscal Year ending
684,76410.7
170,000
2.8
171,749
3.5
120,5170.2
73.55
March 31, 2025
Notes: Revisions to the latest announcement regarding result projection: None

*Notes(1) Changes in Major Subsidiaries during the Three Months Ended June 30, 2024 (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 First Quarter Under Review on page 6.

(4) Number of Shares Issued and Outstanding (Common stock)(a) Number of shares issued at end of period Three months ended
June 30, 2024:(including treasury shares)(b) Number of treasury shares at end ofThree months ended
June 30, 2024:
period(c) Average number of shares outstanding
Three months ended
June 30, 2024:(quarterly cumulative period)

1,818,450,800
sharesYear ended
March 31, 2024:

1,818,450,800
shares179,944,695
sharesYear ended
March 31, 2024:

180,017,193
shares1,638,481,495
sharesThree months ended
June 30, 2023:

1,638,104,343
sharesNote: Number of treasury shares includes shares owned by the trusts to the employee stock plan (ESOP) and stock provision
trust (J-ESOP).

* Financial review of the attached quarterly consolidated financial statements by certified public accountants or an
auditing firm: None
* 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.
・The Company is scheduled to hold a financial results presentation for institutional investors and analysts on Tuesday,
July 30, 2024. Materials used at the presentation and the outline of its Q&A session will be promptly posted on the
Company’s website following the event.

1. Overview of Operating Results
Overview of the operating results for the first three months of the fiscal year under review is stated in “Financial
Results” posted on the Company’s website.

12. Quarterly Consolidated Financial Statements and Key Notes(1) Quarterly Consolidated Balance Sheets
At the end of
the previous fiscal year
(March 31, 2024)

Items(Millions of yen)
At the end of
the first quarter(June 30, 2024)

ASSETS
Current assets
Cash and deposits

285,037

299,692

Notes and accounts receivable—trade, andcontract assets

28,85629,446

Securities

111,977

61,983

9,381

12,621

86

190

Raw materials and supplies

10,033

10,164

Other

6,853

8,561

(3)

(1)

452,222422,660

333,134

517,160

Merchandise and finished goods
Work in process

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

45,65999,730Land

115,890

115,268

Construction in progress

288,746

30,200

Other, net

14,17332,340Total property, plant and equipment

797,604

794,701

Other

15,882

15,320Total intangible assets

15,882

15,32089,601

82,323(95)(94)

Intangible assets

Investments and other assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets

2

89,50682,228902,993892,250

1,355,215

1,314,910

At the end of
the previous fiscal year
(March 31, 2024)

Items(Millions of yen)
At the end of
the first quarter(June 30, 2024)

LIABILITIESCurrent liabilities
Notes and accounts payable—trade

23,761

17,634Current portion of bonds payable

60,00060,000Current portion of long-term borrowings

7,701

7,744

Income taxes payable

37,943

9,819

Other

117,574

106,575

Total current liabilities

246,981

201,774

140,000

140,000

1,252

841

Non-current liabilities
Bonds payable
Long-term borrowings
Provision for share awards

464

463

Retirement benefit liability

4,801

5,020

Other

12,152

11,048

Total non-current liabilities
Total liabilities

158,671

157,373405,652

359,147

63,201

63,201

NET ASSETS
Shareholders’ equity
Share capital
Capital surplus

115,672

115,672

Retained earnings

853,295

864,630

Treasury shares(110,952)(110,670)

Total shareholders’ equity

921,216

932,834

Valuation difference on available-for-sale securities

26,077

20,767

Remeasurements of defined benefit plans

2,269

2,160

Total accumulated other comprehensive income

28,34722,927

Accumulated other comprehensive income

Total net assets
Total liabilities and net assets

3

949,563955,762

1,355,215

1,314,910

(2) Quarterly Consolidated Statements of (Comprehensive) Income(Quarterly Consolidated Statements of Income)Three months ended June 30, 2024
Three months ended
June 30, 2023
(April 1, 2023
to June 30, 2023)

Items(Millions of yen)Three months ended
June 30, 2024
(April 1, 2024
to June 30, 2024)

Net sales

140,604

148,421

Cost of sales

82,742

91,179Gross profit (loss)

57,862

57,242

Selling, general and administrative expenses

19,182

23,906

Operating profit (loss)

38,68033,336

Non-operating income
Interest income

3276

Dividend income

330

485

Share of profit of entities accounted for using equity method

36

45

Insurance received and insurance dividends

55

29

Other

229

218

Total non-operating income

685

856

Interest expenses

89

81

Other

217

52

Total non-operating expenses

307

133

39,05834,058Gain on sale of investment securities—

241

Total extraordinary income—

241

Profit (Loss) before income taxes

39,05834,299

Income taxes—current

9,503

9,147

Income taxes—deferred

2,115

700

Non-operating expenses

Ordinary profit (loss)
Extraordinary income

Total income taxes

11,618

9,847

Profit (Loss)

27,43924,451

Profit (Loss) attributable to owners of parent

27,43924,451

4

(Quarterly Consolidated Statements of Comprehensive Income)Three months ended June 30, 2024
Three months ended
June 30, 2023
(April 1, 2023
to June 30, 2023)

Items(Millions of yen)Three months ended
June 30, 2024
(April 1, 2024
to June 30, 2024)

27,43924,451

Valuation difference on available-for-sale securities

9,675(5,309)Remeasurements of defined benefit plans, net of tax

(69)

(109)

Profit (Loss)
Other comprehensive income

Total other comprehensive income
Comprehensive income

9,606(5,419)37,046

19,03237,046

19,032——Comprehensive income attributable toComprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests5(3) Notes Regarding the Consolidated Financial Statements for the First Quarter Under Review
Changes in Accounting Policy
Application of Accounting Standard for Current Income Taxes
The “Accounting Standard for Current Income Taxes” (ASBJ Statement No. 27, October 28, 2022;
hereinafter, “Revised Accounting Standard 2022”), etc. has been applied since the beginning of the firstquarter of the fiscal year ending March 31, 2025.
Revisions concerning the categories in which current income taxes should be recorded (taxes on othercomprehensive income) are subject to the transitional treatment set forth in the proviso of paragraph 20-3of the Revised Accounting Standard 2022 and the transitional treatment set forth in the proviso ofparagraph 65-2 (2) of the Guidance on Accounting Standard for Tax Effect Accounting (ASBJ Guidance
No. 28, October 28, 2022; hereinafter, “Revised Guidance 2022”). The change in accounting policies had
no impact on the consolidated financial statements for the first quarter under review.
With regard to revisions related to changes in the accounting treatment for consolidated financial
statements when gains/losses on sale of shares, etc. in subsidiaries resulting from transactions between
consolidated subsidiaries are deferred for tax purposes, the Company has applied the Revised Guidance
2022 from the beginning of the first quarter under review. The change in accounting policies was applied
retrospectively to the consolidated financial statements for the first quarter of the previous fiscal year andthe entire previous fiscal year. The change in the accounting policies had no impact on the consolidated
financial statements for the first quarter of the previous fiscal year or the entire previous fiscal year.

Notes Regarding Segment Information, etc.

1. Three months ended June 30, 2023 (April 1, 2023 to June 30, 2023)
A. Net Sales and Profit (Loss) by Reportable Segment and Breakdown of Revenue
Reportable Segments
Theme
Park

Hotel

Total

Other
Business*1

Total(Millions of yen)
Adjustment*2

Amount statedon theQuarterly
Consolidated
Statements ofIncome*3

Net sales
Attractions and54,392—54,392—54,392—54,392shows
Merchandise
39,634—
39,634—
39,634—
39,634
Food and
20,512—
20,512—
20,512—
20,512
beverages
Other revenue
1,988
—
1,988
—
1,988
—
1,988
Hotel
—
—
－
20,36020,36020,36020,360
Other
—
－
－
－
3,716
3,716
3,716
Revenues from116,527
20,360136,8883,716
140,604—
140,604
external customers
Transactions with
2,584
184
2,769
929
3,698
(3,698)－other segments
Total
119,112
20,544
139,657
4,646
144,303(3,698)140,604
Segment profit (loss)
32,463
5,951
38,414
175
38,59090
38,680Notes: 1. The “Other Business” segment, which includes the Ikspiari, monorail, and employee cafeteria businesses, etc., isnot a reportable segment.
2. The segment profit (loss) adjustment amount of 90 million yen is the result of elimination of intersegment
transactions.
3. The segment profit (loss) is adjusted to be recorded as operating profit (loss) in the Quarterly Consolidated
Statements of Income.
4. In terms of net sales, as revenues other than those derived from contracts with customers are of little
significance, revenues derived from contracts with customers and other revenues are not presented separately.

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

2. Three months ended June 30, 2024 (April 1, 2024 to June 30, 2024)
A. Net Sales and Profit (Loss) by Reportable Segment and Breakdown of Revenue
Reportable Segments
Theme
Park

Hotel

Total

Other
Business*1

Total(Millions of yen)
Adjustment*2

Amount statedon theQuarterly
Consolidated
Statements ofIncome*3

Net sales
Attractions and59,926—59,926—59,926—59,926shows
Merchandise
39,936—36,936—36,936—36,936
Food and
22,082—22,082—22,082—22,082
beverages
Other revenue
2,454
—
2,454
—
2,454
—
2,454
Hotel
—
—
－
22,796
22,796
22,796
22,796
Other
—
－
－
－
4,225
4,225
4,225
Revenues from
121,400
22,796
144,196
4,225
148,421—
148,421
external customers
Transactions with
2,959
283
3,243
947
4,190
(4,190)－other segments
Total
124,360
23,079147,439
5,172
152,612(4,190)148,421
Segment profit (loss)
28,174
4,320
32,495649
33,144
192
33,336
Notes: 1. The “Other Business” segment, which includes the Ikspiari, monorail, and employee cafeteria businesses, etc., isnot a reportable segment.
2. The segment profit (loss) adjustment amount of 192 million yen is the result of elimination of intersegment
transactions.
3. The segment profit (loss) is adjusted to be recorded as operating profit (loss) in the Quarterly Consolidated
Statements of Income.
4. In terms of net sales, as revenues other than those derived from contracts with customers are of little
significance, revenues derived from contracts with customers and other revenues are not presented separately.

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

Notes Regarding the Occurrence of Significant Changes in Amount of Shareholders’ Equity: None
Notes Regarding Going Concern Assumption: None
Notes to Quarterly Consolidated Statements of Cash Flows
The Company has not prepared a quarterly consolidated statement of cash flows for the first quarter underreview. Depreciation, including amortization related to intangible assets, for the first quarter under review
is as shown below.
(millions of yen)Three months ended
Three months ended
June 30, 2023
June 30, 2024
(April 1, 2023
(April 1, 2024
to June 30, 2023)
to June 30, 2024)
11,541
13,442
Depreciation and amortization

7

Significant Subsequent Event
Significant Event Related to New Business
The Company announced that Disney cruises are coming to Japan, and a license agreement was
concluded today as follows with Disney Enterprises, Inc. (hereinafter “Disney Company”) regarding cruise
business in Japan. This decision is based on the board of directors meeting held on July 9, 2024.

1. Objective
The Oriental Land Group has previously announced its goals for the year 2030, with the objective ofcontributing to our society, and achieving long term growth. The Company has remodeled its businessstructure, and is promoting actions to achieve further growth. As part of this effort, plans were being
considered for a new business opportunity.
The Company reached a decision to enter into the cruise business in Japan, and has concluded a license
agreement with the Disney Company to bring the magic of Disney cruises to the market. This decision
was based on the potential growth of the cruise market in Japan, the experience the Company has gainedin its theme park and hotel operations, and its strong relationship with the Disney Company which willserve as a great advantage for this business opportunity.
2. Description
Disney cruises were first launched in 1998 in the United States, and its fleet currently consists of fiveships. Building on its success, three more ships are expected, and services are also scheduled to start inSingapore.
Disney cruises offer fun and relaxation for guests of all ages with the incredible entertainment, worldclass dining and exceptional guest service. Cruise fare covers everything guests need for a magicalvacation, including spacious accommodations, immersive experiences with Disney characters, a wide
range of upscale and casual dining options, pools and recreation, and more. Certain incremental items
such as some experiences, food, and beverage are associated with additional fees.
The Company has been offering guests immersive experiences through its theme park business at Tokyo
Disney Resort®. This is a new opportunity to add another unique immersive Disney experience that will
create lifelong memories for families. The family entertainment on Disney cruises will bring happinessand enjoyment for guests.
3. Schedule
Based on the license agreement concluded with the Disney Company, constructions for shipbuilding
will commence from the fiscal year ending March 2026, with the objective to become operational fromthe fiscal year ending March 2029.
4. Significant impact of the new business on operating activities
The total investment in the new business is projected to be approximately ¥330.0 billion. Its impact on
the Company’s consolidated financial results will be closely monitored and matters that need to beannounced will be promptly disclosed.

8