April 28, 2021

Supplementary Materials:
Results for the Fiscal Year Ended March 31, 2021
(April 1, 2020 through March 31, 2021)

Table of Contents■Results for the Fiscal Year Ended March 31, 2021
1. Consolidated Balance Sheets

1(Actual Fiscal Year/Previous Fiscal Year)

2. Consolidated Statements of Income

3(Actual Fiscal Year/Previous Fiscal Year)

0 3. Consolidated Statements of Income(Actual Fiscal Year/Forecast in October 2020)■Capital Expenditures / Depreciation and Amortization

5

7■Appendix
4. Quarterly Consolidated Statements of Income

9(Actual/Previous Results for the First Quarter)

5. Quarterly Consolidated Statements of Income

11(Actual/Previous Results for the Second Quarter)

6. Quarterly Consolidated Statements of Income

13(Actual/Previous Results for the Third Quarter)

7. Quarterly Consolidated Statements of Income(Actual/Previous Results for the Fourth Quarter)

http://www.olc.co.jp/en/

15

1. Consolidated Balance Sheets(Actual Fiscal Year/Previous Fiscal Year)(Millions of yen)
Items

3/20

3/21

(As of March 31, 2020)(As of March 31, 2021)

Amount%AmountChange (decrease)%

Amount%ASSETSI.

Current assets
Cash and deposits
Notes and accounts receivable-trade
Securities
Inventories
Other
Total current assets
II. Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
LandConstruction in progress
Other, net
Total property, plant and equipment
Intangible assets
Other
Total intangible assets
Investments and other assets
Investment securities
Long-term prepaid expenses
Other
Total investments and other assets
Total non-current assets
Total assets

261,164
7,225
19,99920,088
8,262
316,741①

31.3

197,317
12,04033,495
21,531
9,749
274,134

291,01234,557
117,653
152,165
15,197
610,58660.4

315,41147,849115,890
165,344
21,063
665,557

64.0

24,39813,291(1,763)
13,1795,865
54,971

16,334
16,334

1.6

17,111
17,111

1.7

777
777

4.8

6.7
68.7
100.0

49,601
1,110
32,94983,662
766,3311,040,465

8.0
73.7
100.0

2,675
(378)
14,375
16,672
72,421
29,814

24.9
10.4
2.9

9.9

9,072
90 2
30,0003,859
9,023
69,414
121,370

11.7(4,849)( 8 9)
30,000(720)
1,031(4,586)
20,87480,000
2,488
3,537
3,873
89,898190,3948.9
18.8

150,000
2,364
3,030
3,752
159,147
280,51715.3
27.0

70,000
(123)
(506)
(120)
69,24890,122

63,201111,970
744,452(109,325)
810,298

6.2
11.1
73.7
(10.8)
80.2

63,201
112,001
678,792(108,771)
745,223

6.1
10.8
65.2
(10.5)
71.6

30(65,660)553(65,075)

(8.0)

9,623
74
261
9,958
820,257

1.0
0.0
0.0
1.0
81.2

12,449137
2,137
14,724759,948

1.2
0.0
0.2
1.4
73.0

2,826
63
1,876
4,766
(60,308)

47.9(7.4) Ｃ

1,010,651

100.0

1,040,465

100.0

29,814

2.9

46,925
1,489
18,574
66,989693,9101,010,651

26.3(63,847)
4,815
13,495
1,442
1,486(42,607)(13.5)

9.0

②

③

Ａ

LIABILITIESI.

II.

Current liabilities
Notes and accounts payable-trade
Current portion of bonds payable
Current portion of long-term loans payable
Income taxes payable
Other
Total current liabilities
Non-current liabilities
Bonds payable
Long-term loans payable
Retirement benefit liability
Other
Total non-current liabilities
Total liabilities

13,921
13
921
4,580
7,991
74,001
100,495

④

⑤
20.8
⑥

77.0
47.3

Ｂ

NET ASSETS
I.

II.

Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury shares
Total shareholders' equity
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

1⑦

[A. ¥29.8 Billion (2.9%) Increase in Assets]
I. ¥42.6 Billion Decrease in Current Assets

II. ¥72.4 Billion Increase in Non-current Assets(1) Decrease in cash and deposits(2) Increase in securities¥(63.8 billion) …①¥13.4 billion …②[Amount of Increase/Decrease in Non-current Assets](1) Increase in capital expenditures(2) Decrease in depreciation and amortization(3) Increase due to deferred tax¥108.3 billion¥(45.8 billion)¥12.1 billion …③(Millions of yen)

Items

Amount55,370

Amount of increase/decrease in facilities

108,322

Capital expenditures
Theme Park Segment

77,795

Hotel Business Segment

26,716

Other Business Segment

3,811

-

Elimination from consolidation
Removal, etc.

(7,052)

Depreciation and amortization(45,899)

Amount of increase/decrease in investment securities and other assets

Total

17,05072,421[B. ¥90.1 Billion (47.3%) Increase in Liabilities]
I. ¥20.8 Billion Increase in Current Liabilities

II. ¥69.2 Billion Increase in Non-current Liabilities¥30.0 billion …④④¥(11.1 billion) …⑤(1) Increase in current portion of bonds(2) Decrease in accounts payable-other【Breakdown of Interest-Bearing Debt】
Items(1) Increase in bonds payable(Millions of yen)

3/20

3/21

ChangeCurrent portion of bonds payable-

30,00030,000Current portion of long-term loans
payable

4,580

3,859

(720)

Bonds payable

80,000150,000

70,000Long-term loans payable

2,488

2,364

(123)

87,069186,224

99,155Total[C. ¥60.3 Billion (7.4%) Decrease in Net Assets](1) Decrease in retained earnings¥(65.6 billion) …⑦

・ Decrease in profit attributable to owners of parent¥(54.1 billion)・ Decrease due to cash dividends¥(11.4 billion)2¥70.0 billion …⑥⑥

2. Consolidated Statements of Income(Actual Fiscal Year/Previous Fiscal Year)(Millions of yen)
Items

3/20

3/21

(Fiscal Year ended March 31, 2020)(Fiscal Year ended March 31, 2021)

AmountAmount%Change (decrease)
Amount%%Net sales

464,450

100.0

170,581100.0(293,869)(63.3) A

Theme Park Segment

384,03182.7

134,293

78.7(249,737)(65.0) ①

Hotel Business Segment

64,375

13.9

28,62716.8(35,747)(55.5) ②

Other Business Segment

16,043

3.4

7,660

4.5

(8,383)(52.3) ③

Cost of sales

300,601

64.7

169,67899.5(130,922)

Personnel expenses

75,062

45,639(29,422)

Other expenses

194,177

92,112(102,064)

Depreciation and amortization

31,361

31,926564

Gross profit

163,849

35.3

902

0.5

(162,946)(99.4)

Selling, general and administrative
expenses

66,986

14.4

46,891

27.5(20,094)(30.0)

Personnel expenses

25,24018,720(6,519)Other expenses

36,346

23,409(12,936)

Depreciation and amortization

5,398

4,761

(637)

(43.6)

Operating profit

96,862

20.9(45,989)(27.0)(142,852)-

B

Theme Park Segment

79,66017.1(41,982)(24.6)(121,643)-④

Hotel Business Segment

14,7693.2(1,954)(1.1)(16,723)-⑤

Other Business Segment

2 161
2,161

05
0.5

(2 312)(2,312)

(1 4)
(1.4)

(4 474)(4,474)-⑥(Elimination and Corporate)

271

0.1

260

0.1

(11)

(4.2)

Non-operating income

2,582

0.5

1,833

1.2

(749)

(29.0)

Non-operating expenses

1,382

0.3

5,049

3.0

3,666

265.2

Ordinary profit

98,062

21.1(49,205)(28.8)(147,268)-

Gain on sales of investment securities

341

0.1

-

-

(341)

-

Total extraordinary income

341

0.1

-

-

(341)

-

9,270

2.0

12,965

7.6

3,694

39.9

-

-

5,633

3.3

5,633

-

Total extraordinary losses

9,270

2.0

18,598

10.9

9,328

100.6

Profit before income taxes

89,133

19.2(67,804)(39.7)(156,938)-

Income taxes-current

25,048

5.4

479

0.4

(24,568)(98.1)

Income taxes-deferred

1,868

0.4

(14,092)(8.3)(15,960)-

Total income taxes

26,916

5.8(13,613)(7.9)(40,529)-

Profit62,217

13.4(54,190)(31.8)(116,408)-

Profit attributable to owners of parent

62,217

13.4(54,190)(31.8)(116,408)-

Extraordinary income

Extraordinary losses
Loss on temporary closure
Impairment losses

3

⑦

Ｃ

[A. ¥293.8 Billion (63.3%) Decrease in Net Sales]
Items(Millions of yen)

3/20

3/21

① Theme Park Segment

384,031

134,293(249,737)(65.0)

Attractions and shows

179,965

66,938(113,027)(62.8)

Merchandise

126,822

41,579(85,243)(67.2)

Food and beverages

70,81522,642(48,172)(68.0)

Others② Hotel Business Segment
Disney Hotels*1
Other Hotels

ChangeChange (%)

6,428

3,133

(3,294)(51.3)

64,37528,627(35,747)(55.5)

56,79925,571(31,228)(55.0)

Primary reasons for change・Decrease due to the temporary closure of both Parks
・Decrease by limited Theme Park attendance・Decrease due to the temporary closure of hotels
・Decrease in accommodation revenue due to limited number of rooms sold

7,575

3,056

(4,519)(59.7)

16,043

7,660(8,383)(52.3)

Ikspiari

6,175

4,272

(1,903)

Monorail

4,767

1,019

(3,748)(30.8) ･Decrease in Monorail Business due to the temporary closure of both Parks
・Decrease in Monorail Business due to limited Theme Park attendance(78.6) ・Decrease due to the temporary closure of Ikspiari Business

Others

5,100

2,368

(2,731)(53.6)③ Other Business Segment*1 Including Disney Ambassador Hotel, Tokyo DisneySea Hotel MiraCosta, Tokyo Disneyland Hotel and Tokyo Disney Celebration Hotel.

[Theme Park Information]
Items

3/20

3/21

ChangeChange (%)

Attendance (thousand people)

29,008

7,560(21,449)(73.9)Net sales per Guest (yen)11,606

13,642

2,036

17.5

5,292

6,538

1,246

Ticket receipts
Merchandise

3,877

4,122

245

Food and beverages

2,437

2,982

545

Primary reasons for change・Decrease due to temporary closure of both Parks
・Decrease by limited Theme Park attendance・Increase due to restriction on ticket types with limited Theme Park attendance・Increase due to ticket price revision・Temporary increase due to growth in demand after reopening
6.3
・Increase in products related to newly-opened area
・Increase due to ample dining opportunities with limited Theme Park attendance
22.4
・Increase in souvenir products related to newly-opened area
23.5

[B. ¥142.8 Billion Decrease in Operating Profit]
Items④ Theme Park Segment

3/20

3/21

79,660(Millions of yen)

Change(41,982)

Change (%)

Primary reasons for change(121,643)

・Decrease in net sales
・Increase in merchandise and food/beverages sales cost ratio[¥(19.6 billion)]*2 *3
・Decrease in personnel expenses [¥30.2 billion]-Transfer to extraordinary loss [¥7.1 billion]-Decrease due to employment adjustment subsidy [¥7.2 billion]*3-Decrease in personnel expenses for part-time employees [¥8.7 billion]-Decrease in personnel expenses for full-time employees [¥4.5 billion]-Other [¥2.7 billion]- ・Decrease in miscellaneous costs [¥25.4 billion]-Transfer to extraordinary loss [¥2.1 billion]-Decrease in sales promotion costs [¥4.5 billion]-Decrease in maintenance costs [¥4.4 billion]-DecreaseD
iin costs
t relatedl t d tto special
i l events
t [¥4
[¥4.1
1 billibillion]]-Decrease in costs related to entertainment [¥2.3 billion]-Other [¥8.0 billion]
・Increase in depreciation and amortization expenses [¥(0.3 billion)]-Transfer to extraordinary loss [¥4.5 billion]-Increase due to acquisition of new assets [¥(4.8 billion)]⑤ Hotel Business Segment

14,769(1,954)(16,723)

・Decrease in net sales
・Decrease in personnel expenses [¥4.6 billion]*3-Transfer to extraordinary loss, decrease in performance bonus, etc.
- ・Decrease in miscellaneous costs-Decrease in costs during closure, transfer to extraordinary loss, etc.
・Decrease in depreciation and amortization expenses [¥0.8 billion]-Transfer to extraordinary loss, etc.

⑥ Other Business Segment

2,161(2,312)(4,474)-・Decrease in net sales
・Decrease in miscellaneous costs, etc.

*2 Since the impact of the increase in the merchandise and food/beverage cost ratio in the first quarter (April to June) cannot be calculated due to the temporary
closure of the Parks, it is not stated on the primary reasons for change in operating profit in the first quarter on page 10.
*3 Of the employment adjustment subsidy received due to the COVID-19 pandemic, the amount received (including the estimated amount to be received) for reasons
other than the temporary closure of our Parks was deducted from operating expenses.

[C. ¥116.4 Billion Decrease in Profit Attributable to Owners of Parent]⑦ Increase in Extraordinary Loss
Items

Theme Park Segment(Millions of yen)

3/20

3/21

9,270

Change11,802

Change (%)

・Transfer from personnel expenses [¥(2.1 billion)]*4-Part of personnel expenses incurred during temporary closure in FY3/20[¥(2.9 billion)]-Part of personnel expenses incurred during temporary closure in FY3/21[¥0.8 billion]
・Transfer from miscellaneous costs [¥2.1 billion]-Outsourcing, fixed asset tax during temporary closure in FY3/20, etc.
[¥(0.8 billion)]-Outsourcing, fixed asset tax during temporary closure in FY3/21, etc.
27.3 [¥3.0 billion]
・Transfer from depreciation and amortization expenses [¥4.5 billion]-Depreciation and amortization expenses during temporary closure in FY3/20[¥(2.6 billion)]-Depreciation and amortization expenses during temporary closure in FY3/21[¥7.2 billion]
・Personnel expenses in costs of food and beverages*4, disposal ofmerchandise and raw material, etc. [¥(1.9 billion)]-For FY3/20 [¥(2.6 billion)]-For FY3/21 [¥0.6 billion]

2,532

Hotel Business Segment

-

6,532

6,532

Other Business Segment

-

264

264

Primary reasons for change

・Recording of impairment loss [¥5.6 billion]
・Transfer from personnel expenses [¥(0.2 billion)]*4-Part of personnel expenses incurred during temporary closure- ・Transfer from miscellaneous costs [¥0.3 billion]-Fixed asset tax during temporary closure
・Transfer from depreciation and amortization expenses [¥0.7 billion]-Depreciation and amortization expenses during temporary closure-

・Transfer from depreciation and amortization expenses [¥0.1 billion]-Depreciation and amortization expenses during temporary closure of Ikspiari, etc.

*4 As the employment adjustment subsidy to be received from the government as a special measure to address the impact of COVID-19, highly accurate amount to bereceived is reasonably calculated, and has been deducted from the extraordinary loss in each business segment.

43. Consolidated Statements of Income(Actual Fiscal Year/Forecast in October 2020)(Millions of yen)
Items

Forecast in Oct. 2020

Actual Results(Fiscal Year ended March 31, 2021)(Fiscal Year ended March 31, 2021)

AmountAmount%%Change (decrease)
Amount%Net sales

185,460

100.0

170,581100.0(14,878)(8.0) A

Theme Park Segment

152,440

82.2

134,29378.7(18,146)(11.9) ①

Hotel Business Segment

25,13013.5

28,627

16.8

3,497

13.9

Other Business Segment

7,890

4.3

7,660

4.5

(229)

(2.9) ③

Cost of sales

188,510101.6

169,678

99.5(18,831)(10.0)

Gross profit(3,050)

(1.6)

902

0.5

3,952

-

Selling, general and administrative
expenses

48,35026.1

46,89127.5(1,458)(3.0)

Operating profit(51,400)(27.7)(45,989)(27.0)

5,410

-

B

Theme Park Segment(43,110)(23.2)(41,982)(24.6)

1,127

-

④

Hotel Business Segment(5,970)(3.2)(1,954)

(1.1)

4,015

-

⑤

Other Business Segment(2,580)(1.4)(2,312)

(1.4)

267

-

⑥

(Elimination and Corporate)

260

0.1

260

0.1

0

0.0

Non-operating income

1,970

1.0

1,833

1.2

(136)

(6.9)

Non-operating expenses

4,460

2.4

5,049

3.0

589

13.2

(53,890)(29.1)(49,205)(28.8)

4,684-

13,333

7.2

12,965

7.6

(367)

(2.8)

-

-

5,633

3.3

5,633

-

Total extraordinary losses

13,333

7.2

18,598

10.9

5,265

39.5

Profit before income taxes(67,230)(36.3)(67,804)(39.7)(574)-

Income taxes(16,120)(8.7)(13,613)

(7.9)

2,506

-

Profit(51,110)(27.6)(54,190)(31.8)(3,080)-

Profit attributable to owners of parent(51,110)(27.6)(54,190)(31.8)(3,080)-Ordinary profit②

Extraordinary losses
Loss on temporary closure
Impairment losses

Note: Although the forecast for the fiscal year ended March 2021 is disclosed in units of 10 million yen, the extraordinary loss shows the actual results for the
first half.

5

⑦

Ｃ

[A. ¥14.8 Billion (8.0%) Decrease in Net Sales]
Items

Forecastin Oct.

ActualResults(Millions of yen)

ChangeChange (%)

Primary reasons for change① Theme Park Segment

152,440

134,293(18,146)(11.9)

Attractions and shows

77,80066,938(10,861)(14.0)

Merchandise

44,70041,579(3,120)(7.0) ・Decrease by limited Theme Park attendance

Food and beverages

27,06022,642(4,417)(16.3)

Others

2,880

3,133

253

8.8

25,13028,627

3,497

13.9

Disney Hotels*1

22,32025,5713,251

14.6 ・Increase in accommodation revenue

Other Hotels

2,810

3,056

246

8.8

7,890

7,660

(229)

(2.9)

Ikspiari

4,360

4,272

(87)

(2.0)

Monorail

1,260

1,019

(240)

(19.1)

Others

2,270

2,368

98

4.3

② Hotel Business Segment③ Other Business Segment･Decrease in Monorail Business due to limited Theme Park attendance*1 Including Disney Ambassador Hotel, Tokyo DisneySea Hotel MiraCosta, Tokyo Disneyland Hotel and Tokyo Disney Celebration Hotel.

[Theme Park Information]
Items

Forecastin Oct.

ActualResults

ChangeChange (%)

Primary reasons for change(20.4) ・Decrease by limited Theme Park attendance

Attendance (thousand people)

9,500

7,560

(1,940)Net sales per Guest (yen)12,71013,642932

7.3

Ticket receipts

6,250

6,538

288

4.6 ・Increase due to changes in composition ratio of ticket sales

Merchandise

3,620

4,122

502

13.9 ・Increase in regular products

Food and beverages

2,840

2,982

142

5.0 ・Increase in souvenir products related to newly-opened area

[B. ¥5.4 Billion Increase in Operating Profit]
Items④ Theme Park Segment

Forecastin Oct.

(43,110)

ActualResults(41,982)(Millions of yen)

ChangeChange (%)

Primary reasons for change

1,127・Decrease in net sales
・Decrease in merchandise and food/beverages sales cost ratio[about ¥0.5 billion]*2 *3
・Decrease in personnel expenses [about ¥7.0 billion]-Decrease due to employment adjustment subsidy [¥3.2 billion]*3-Decrease in personnel expenses for part-time employees [about ¥2.0 billion]-Decrease in personnel expenses for full-time employees [about ¥1.5 billion], etc.
・Decrease in miscellaneous costs [about ¥5.5 billion]-Decrease in maintenance costs [about ¥3.0 billion]-Decrease in energy costs [about ¥0.5 billion]-Other [about ¥2.0 billion]
・Decrease in depreciation and amortization expenses [¥0.3 billion]
・Decrease in net sales
・Decrease in personnel expenses [about ¥1.0 billion]*3- -Decrease due to employment adjustment subsidy, etc.
・Decrease in miscellaneous costs-Decrease in maintenance costs, etc.

⑤ Hotel Business Segment(5,970)(1,954)

4,015⑥ Other Business Segment(2,580)(2,312)267-

・Decrease in net sales
・Decrease in miscellaneous costs, etc.

*2 Since the impact of the increase in the merchandise and food/beverage cost ratio in the first quarter (April to June) cannot be calculated due to the temporary
closure of the Parks, it is not stated on the primary reasons for change in operating profit in the first quarter on page 10.
*3 Of the employment adjustment subsidy received due to the COVID-19 pandemic, the amount received (including the estimated amount to be received) for reasons
other than the temporary closure of our Parks was deducted from operating expenses.

[C. ¥3.0 Billion Decrease in Profit Attributable to Owners of Parent]⑦ Increase in Extraordinary Loss・Impairment loss in Brighton Hotel business in Hotel Business Segment
・Other

¥5.6 billion¥(0.3 billion)

6

Capital Expenditures / Depreciation and Amortization
1. Capital Expenditures(Property, plant and equipment, Intangible assets, Long-term prepaid expenses)
Results for the FY ended March 31, 2021 / Results for the FY ended March 31, 2020
3/20 Results 3/21 Results
Change
Items(Billions of yen)Primary reasons for change

Theme Park Segment

129.9

77.7

(52.1)

Tokyo Disneyland

56.7

11.6

(45.0)

Tokyo DisneySea

39.2

44.9

5.6

Others

33.9

21.1(12.7) Decrease in Tokyo DisneySea Large-Scale Expansion Project

Hotel Business Segment

5.1

26.7

21.5

Other Business Segment

4.6

3.8

(0.7)

(Elimination and Corporate)

(0.0)

-

0.0

139.6

108.3

(31.3)

Total

Decrease in Tokyo Disneyland Large-Scale Development,
multistory parking space
Increase due to development of Tokyo DisneySea Large-Scale Expansion
Project

Increase due to development of Tokyo Disney Resort Toy Story Hotel,
Tokyo DisneySea Large-Scale Expansion Project

2. Depreciation and Amortization(Property, plant and equipment, Intangible assets, Long-term prepaid expenses)
Results for the FY ended March 31, 2021 / Results for the FY ended March 31, 2020
3/20 Results 3/21 Results
Change
Items(Billions of yen)Primary reasons for change

Theme Park Segment

30.5

30.8

0.3

Tokyo Disneyland

9.8

14.0

4.1

Tokyo DisneySea

13.0

9.8

(3.2) Transfer to extraordinary loss and non-operating expenses

Others

7.5

7.0

(0.5)

Hotel Business Segment

3.8

3.0

(0.8)

Other Business Segment

2.3

2.7

0.3

(Elimination and Corporate)

(0 0)
(0.0)

(0 0)
(0.0)

(0 0)
(0.0)

36.7

36.6

(0.0)

Total

Increase due to development of Tokyo Disneyland Large-Scale Development
Transfer to extraordinary loss and non-operating expenses

Note: Depreciation and amortization figures exclude depreciation and amortization recorded as non-operating expenses and extraordinary loss.

Outlook for the Fiscal Year Ending March 31, 2021
In view of the application of the “priority measures to prevent the spread of disease” to Urayasu City, Chiba
Prefecture, and the opaque external environment ahead, it is difficult to formulate a highly accurate financial
forecast of results for FY3/22. We will therefore disclose our forecast when circumstances change for the better.
For the fiscal year ending March 31, 2022, we project capital expenditure to be in the ¥130 billion range anddepreciation and amortization expenses to be in the ¥45 billion range.
Note: The depreciation method, mainly for tangible assets of Tokyo Disneyland will be changed from decliningbalance to straight-line effective from the fiscal year ending March 31, 2022.

Notes for Theme Parks Event Calendar for the Fiscal Year Ending March 2022
Events for the fiscal year ending March 2022 are not yet decided at this moment.
Information will be announced when it is determined.

7

Appendix

84. Quarterly Consolidated Statements of Income(Actual /Previous Results for the First Quarter)(Millions of yen)

Items

Three months
ended June 30, 2019
(Apr. 1, 2019 to Jun. 30, 2019)
AmountThree months
ended June 30, 2020
(Apr. 1, 2020 to Jun. 30, 2020)
Amount%Change (Decrease)
Amount%%Net sales

120,552

100.0

6,164

100.0

(114,387)(94.9) A

Theme Park Segment

100,179

83.1

5,123

83.1

(95,055)(94.9) ①

Hotel Business Segment

16,420

13.6

147

2.4

(16,273)(99.1) ②

Other Business Segment

3,952

3.3

893

14.5

(3,059)(77.4) ③

Cost of sales

72,26959.9

12,963210.3(59,306)(82.1)

Personnel expenses

18,975

4,176(14,799)

Other expenses

45,656

8,184(37,472)

Depreciation and amortization

7,637

602

(7,034)Gross profit

48,282

40.1(6,798)(110.3)(55,081)-

Selling, general and administrative expenses

16,345

13.6

8,843

143.4

(7,502)(45.9)

Personnel expenses

6,299

3,883

(2,416)

Other expenses

8,733

4,380

(4,352)

Depreciation and amortization

1,312

579

(733)

Operating profit

31,93626.5(15,641)(253.7)(47,578)- B

Theme Park Segment

27,182

22.6(11,439)(185.6)(38,622)- ④

Hotel Business Segment

3,784
3 784

3.1
31

(3,198)(3 198)(51.9)(51 9)(6,982)(6 982)- ⑤

Other Business Segment

911

0.8

(1,035)(16.8)(1,947)- ⑥(Elimination and corporate)

57

0.0

31

0.6

(25)

(44.9)

Non-operating income

1,086

0.9

753

12.2

(332)

(30.6)

Non-operating expenses

260

0.2

395

6.4

134

51.8

32,76227.2(15,283)(247.9)(48,045)---

21,198343.9

21,198- ⑦

Profit before income taxes

32,76227.2(36,481)(591.8)(69,244)-

Income taxes

9,838

8.2

(11,610)(188.3)(21,449)-

Profit22,92319.0(24,871)(403.5)(47,794)-

Profit attributable to owners of parent

22,92319.0(24,871)(403.5)(47,794)- C

Ordinary profit

Extraordinary losses

9[A. ¥114.3 Billion (94.9%) Decrease in Net Sales]
Items① Theme Park Segment

Three months Three months
ended June
ended June30, 2019
30, 2020
100,179
5,123(Millions of yen)

ChangePrimary reasons for change

Change (%)(95,055)(94.9)

Attractions and shows

46,8483,844(43,004)(91.8)

Merchandise

33,478959(32,519)(97.1) ・Decrease due to the temporary closure of both Parks

Food and beverages

18,475

1(18,474)(100.0)

Others② Hotel Business Segment
Disney Hotels*1
Other Hotels③ Other Business Segment
Ikspiari

1,375

319

(1,056)(76.8)

16,420147(16,273)(99.1)

14,353

26(14,326)(99.8) ・Decrease due to the temporary closure of hotels

2,067

120

(1,946)(94.2)

3,952

893(3,059)(77.4)

1,661

419(1,242)(74.8) ・Decrease due to the temporary closure of Ikspiari Business(97.3) ・Decrease in Monorail Business due to the temporary closure of both Parks

Monorail

1,177

32

(1,144)

Others

1,113

441

(671)

(60.3)*1 Including Disney Ambassador Hotel, Tokyo DisneySea Hotel MiraCosta, Tokyo Disneyland Hotel and Tokyo Disney Celebration Hotel.
[Theme Park Information (Year-on-year comparison)]
As both Parks were temporarily closed during the first quarter, there are no actual figures for attendance or net sales per Guest.

[B. \47.5 Billion Decrease in Operating Profit]
Items④ Theme Park Segment

Three months Three months
ended June
ended June30, 2019
30, 2020

27,182(11,439)(Millions of yen)

ChangePrimary reasons for change

Change (%)(38,622)

・Decrease in net sales
・Decrease in personnel expenses [¥14.5 billion]-Transfer to extraordinary loss, decrease in personnel expenses for part-time employees,
etc.
- ・Decrease in miscellaneous costs [¥6.9 billion]-Transfer to extraordinary loss, decrease in sales promotion costs, costs related to special
events, etc.
・Decrease in depreciation and amortization expenses [¥6.8 billion]-Transfer to extraordinary loss, etc.

⑤ Hotel Business Segment

3,784(3,198)(6,982)

・Decrease in net sales
・Decrease in personnel expenses [¥2.3 billion]-Transfer to extraordinary loss, decrease due to reduction of working hours, etc.
- ・Decrease in miscellaneous costs [¥0.9 billion]-Decrease in maintenance costs, transfer to extraordinary loss, etc.
・Decrease in depreciation and amortization expenses [¥0.7 billion]-Transfer to extraordinary loss, etc.

⑥ Other Business Segment

911(1,035)(1,947)- ・Decrease in net sales, etc.

[C. \47.7 Billion Decrease in Profit attributable to Owners of Parent]⑦ Increase in Extraordinary Loss

Items

Theme Park Segment(Millions of yen)Three months Three months
ended June
ended June30, 2019
30, 2020-

19,715

ChangeChange (%)

Primary reasons for change

19,715・Transfer from personnel expenses [¥7.7 billion]*2-Part of personnel expenses incurred during the temporary closure of both Parks
・Transfer from miscellaneous costs [¥3.2 billion]-Outsourcing, fixed asset tax during the temporary closure of both Parks, etc.
・Transfer from depreciation and amortization expenses [¥7.2 billion]-Depreciation and amortization expenses during the temporary closure of both Parks
・Personnel expenses in costs of food and beverages*2, disposal of merchandise and raw
material, etc. [¥1.4 billion]
・Transfer from personnel expenses [¥0.1 billion]*2-Part of personnel expenses incurred during the temporary closure of hotels
・Transfer from miscellaneous costs [¥0.3 billion]-Fixed asset tax during the temporary closure of hotels, etc.
・Transfer from depreciation and amortization expenses [¥0.7 billion]-Depreciation and amortization expenses during the temporary closure of hotels

Hotel Business Segment

-

1,262

1,262

Other Business Segment

-

219

219

-

・Transfer from depreciation and amortization expenses [¥0.1 billion]-Depreciation and amortization expenses of Ikspiari business during the temporary closureof Ikspiari, etc.

*2 As the employment adjustment subsidy to be received from the government as a special measure to address the impact of COVID-19, highly accurate amount to be received is reasonably calculated,and has been deducted from the extraordinary loss.

10

5. Quarterly Consolidated Statements of Income(Actual /Previous Results for the Second Quarter)(Millions of yen)

Items

Three months
ended September 30, 2019
(Jul. 1, 2019 to Sep. 30, 2019)
AmountThree months
ended September 30, 2020
(Jul. 1, 2020 to Sep. 30, 2020)
Amount%Change (Decrease)
Amount%%Net sales

127,876

100.0

52,984100.0(74,891)(58.6) A

Theme Park Segment

105,21582.3

42,725

80.6(62,490)(59.4) ①

Hotel Business Segment

18,304

14.3

8,026

15.2

(10,277)(56.1) ②

Other Business Segment

4,356

3.4

2,232

4.2

(2,123)(48.8) ③

Cost of sales

81,01863.4

49,641

93.7(31,377)(38.7)

Personnel expenses

20,90013,698(7,202)Other expenses

51,764

26,875(24,888)

Depreciation and amortization

8,352

9,067

714

Gross profit

46,858

36.6

3,343

6.3

(43,514)(92.9)

Selling, general and administrative expenses

17,855

13.9

11,88022.4(5,975)(33.5)

Personnel expenses

7,207

4,228

(2,979)Other expenses

9,325

6,271

(3,054)

Depreciation and amortization

1,321

1,379

57

Operating profit

29,002

22.7(8,536)(16.1)(37,539)- B

Theme Park Segment

22,74717.8(7,882)(14.9)(30,629)- ④

Hotel Business Segment

5,293

4.1

(470)

(0.9)

(5,763)- ⑤

Other Business Segment

896

0.7

(269)

(0.5)

(1,165)- ⑥(Elimination and corporate)

66

0.1

85

0.2

19

29.1

Non-operating income

537

0.4

411

0.7

(126)

(23.6)

Non-operating expenses

224

0.2

1,336

2.5

1,111

494.4

29,31522.9(9,461)(17.9)(38,777)---(7,865)(14.9)(7,865)- ⑦

Profit before income taxes

29,31522.9(1,596)(3.0)(30,912)-

Income taxes

9,154

7.1

3,627

6.9

(5,526)(60.4)

Profit20,16015.8(5,224)(9.9)(25,385)-

Profit attributable to owners of parent

20,16015.8(5,224)(9.9)(25,385)- C

Ordinary profit

Extraordinary losses

11[A. \74.8 Billion (58.6%) Decrease in Net Sales](Millions of yen)

Items

Three months
Three months
ended September ended September
30, 2019
30, 2020

ChangePrimary reasons for change

Change (%)① Theme Park Segment

105,215

42,725(62,490)(59.4)

Attractions and shows

49,25821,520(27,737)(56.3)

Merchandise

34,22813,364(20,864)(61.0) ・Decrease by limited Theme Park attendance

Food and beverages

19,8607,364(12,495)(62.9)

Others

1,868

474(1,393)(74.6)

18,304

8,026(10,277)(56.1)

Disney Hotels*1

16,442

7,254(9,187)(55.9) ・Decrease in accommodation revenue due to limited number of rooms sold

Other Hotels

1,861

771

(1,089)(58.5)

4,356

2,232

(2,123)(48.8)

Ikspiari

1,805

1,320

(485)

(26.9)

Monorail

1,364

335

(1,028)(75.4)

Others

1,186

577

(609)

(51.4)② Hotel Business Segment③ Other Business Segment･Decrease in Monorail Business due to limited Theme Park attendance*1 Including Disney Ambassador Hotel, Tokyo DisneySea Hotel MiraCosta, Tokyo Disneyland Hotel and Tokyo Disney Celebration Hotel.

[B. \37.5 Billion Decrease in Operating Profit]
Items

Three months
Three months
ended September ended September
30, 2019
30, 2020(Millions of yen)Primary reasons for change

Change (%)

Change④ Theme Park Segment

22,747(7,882)(30,629)

・Decrease in net sales
・Increase in merchandise and food/beverages sales cost ratio [¥(2.5 billion)]*2
・Decrease in personnel expenses [¥8.3 billion]*2-Decrease due to receipt of employment adjustment subsidy, decrease in personnel
expenses for full-time employees, etc.
・Decrease in miscellaneous costs [¥5.0 billion]-Decrease in sales promotion costs, costs related to special events, etc.
・Increase in depreciation and amortization expenses [¥(0.6 billion)]⑤ Hotel Business Segment

5,293

(470)

(5,763)

・Decrease in net sales- ・Decrease in personnel expenses [¥1.5 billion]*2-Decrease due to reduction of bonus, etc.

⑥ Other Business Segment

896

(269)

(1,165)- ・Decrease in net sales, etc.

*2 Of the employment adjustment subsidy received due to the COVID-19 pandemic, the amount received for reasons other than the temporary closure of our Parks was deducted from operating expenses.

[C. \25.3 Billion Decrease in Profit attributable to Owners of Parent]⑦ Decrease in Extraordinary Loss
Items

(Millions of yen)Three months
Three months
ended September ended September
30, 2019
30, 2020

Primary reasons for change

Change (%)

ChangeTheme Park Segment-(7,546)(7,546)-

・Decrease in extraordinary loss [¥(7.5 billion)]-Decrease due to receipt of employment adjustment subsidy*3-Decrease due to reduction of winter bonus payments to full-time employees

Hotel Business Segment

-

(309)

(309)

-

・Decrease in extraordinary loss [¥(0.3 billion)]-Decrease due to receipt of employment adjustment subsidy*3-Decrease due to reduction of winter bonus payments to full-time employees

Other Business Segment

-

(9)

(9)

-

・Decrease in extraordinary loss [¥(0.0 billion)]-Decrease due to receipt of employment adjustment subsidy*3-Decrease due to reduction of winter bonus payments to full-time employees*3 The recorded amount were decreased from extraordinary loss in each business in the second quarter (July to September) because receipt of employment adjustment subsidy due to the impact of
the COVID-19 pandemic exceeded the expected amount at the time of the first quarter settlement.

12

6. Quarterly Consolidated Statements of Income(Actual /Previous Results for the Third Quarter)(Millions of yen)

Items

Three months
ended December 31, 2019
(Oct. 1, 2019 to Dec. 31, 2019)
AmountThree months
ended December 31, 2020
(Oct. 1, 2020 to Dec. 31, 2020)
Amount%Change (Decrease)
Amount%%Net sales

141,776

100.0

77,964100.0(63,811)(45.0) A

Theme Park Segment

118,727

83.7

61,31078.7(57,417)(48.4) ①

Hotel Business Segment

18,795

13.3

13,98417.9(4,811)(25.6) ②

Other Business Segment

4,253

3.0

2,669

3.4

(1,583)(37.2) ③

Cost of sales

84,59959.7

59,382

76.2(25,216)(29.8)

Personnel expenses

20,812

16,445(4,367)

Other expenses

54,79931,734(23,065)

Depreciation and amortization

8,986

11,202

2,216

Gross profit

57,17740.3

18,582

23.8(38,595)(67.5)

Selling, general and administrative expenses

17,07812.0

14,24318.2(2,834)(16.6)

Personnel expenses

6,734

5,788

(946)

Other expenses

9,010

7,062

(1,947)

Depreciation and amortization

1,333

1,392

59

Operating profit

40,098

28.3

4,338

5.6

(35,760)(89.2) B

Theme Park Segment

33,572

23.7

937

1.2

(32,635)(97.2) ④

Hotel Business Segment

5,566

3.9

3,290

4.2

(2,275)(40.9) ⑤

Other Business Segment

920

0.7

81

0.1

(839)

(91.2) ⑥(Elimination and corporate)

38

0.0

29

0.1

(9)

(23.6)

Non-operating income

578

0.4

481

0.6

(97)

(16.8)

Non-operating expenses

396

0.3

1,925

2.5

1,528

385.3

40,280

28.4

2,894

3.7

(37,386)(92.8)

-

-

0

0.0

0

-

Profit before income taxes

40,280

28.4

2,893

3.7

(37,386)(92.8)

Income taxes

12,371

8.7

1,526

1.9

(10,845)(87.7)

Profit27,908

19.7

1,367

1.8

(26,541)(95.1)

Profit attributable to owners of parent

27,908

19.7

1,367

1.8

(26,541)(95.1)

Ordinary profit

Extraordinary losses

13[A. ¥63.8 Billion (45.0%) Decrease in Net Sales](Millions of yen)

Items

Three months
Three months
ended December ended December
31, 2019
31, 2020

ChangePrimary reasons for change

Change (%)① Theme Park Segment

118,727

61,310(57,417)

Attractions and shows

55,36329,086(26,276)(47.5)

Merchandise

39,721

19,487(20,233)(50.9) ・Decrease by limited Theme Park attendance

Food and beverages

21,733

11,486(10,247)(47.1)

Others

1,908

1,250

(658)

(34.5)

18,795

13,984(4,811)(25.6)

Disney Hotels*1

16,502

12,520(3,982)(24.1) ・Decrease in accommodation revenue due to limited number of rooms sold

Other Hotels

2,292

1,464

(828)

(36.1)

4,253

2,669

(1,583)(37.2)② Hotel Business Segment③ Other Business Segment(48.4)

Ikspiari

1,702

1,434

(268)

(15.8)

Monorail

1,399

495

(904)

(64.6)

Others

1,150

740

(410)

(35.7)･Decrease in Monorail Business due to limited Theme Park attendance*1 Including Disney Ambassador Hotel, Tokyo DisneySea Hotel MiraCosta, Tokyo Disneyland Hotel and Tokyo Disney Celebration Hotel.

[B. ¥35.7 Billion (89.2%) Decrease in Operating Profit](Millions of yen)

Items

Three months
Three months
ended December ended December
31, 2019
31, 2020

ChangeChange (%)

Primary reasons for change④ Theme Park Segment

33,572937(32,635)

・Decrease in net sales
・Increase in merchandise and food/beverages sales cost ratio [¥(2.3 billion)]*2
・Decrease in personnel expenses [¥4.4 billion]*2-Decrease in personnel expenses for part-time employees and full-time employees, etc.
(97.2)
・Decrease in miscellaneous costs [¥5.7 billion]-Decrease in costs related to special events, maintenance costs, sales promotion costs,
etc.
・Increase in depreciation and amortization expenses [¥(2.1 billion)]⑤ Hotel Business Segment

5,566

3,290

(2,275)・Decrease in net sales(40.9) ・Decrease in personnel expenses [¥0.7 billion]*2-Decrease due to reduction of bonus, etc.

⑥ Other Business Segment

920

81

(839)

(91.2) ・Decrease in net sales, etc.

*2 Of the employment adjustment subsidy received due to the COVID-19 pandemic, the amount received for reasons other than the temporary closure of our Parks was deducted from operating expenses.

14

7. Quarterly Consolidated Statements of Income(Actual /Previous Results for the Fourth Quarter)(Millions of yen)

Items

Three months
ended March 31, 2020
(Jan. 1, 2020 to Mar. 31, 2020)
AmountThree months
ended March 31, 2021
(Jan. 1, 2021 to Mar. 31, 2021)
Amount%Change (Decrease)
Amount%%Net sales

74,245100.0

33,467100.0(40,777)(54.9) A

Theme Park Segment

59,90880.7

25,13475.1(34,774)(58.0) ①

Hotel Business Segment

10,855

14.6

6,469

19.3

(4,385)(40.4) ②

Other Business Segment

3,481

4.7

1,864

5.6

(1,617)(46.5) ③

Cost of sales

62,714

84.5

47,691142.5(15,022)(24.0)

Personnel expenses

14,373

11,319(3,053)

Other expenses

41,95625,318(16,638)

Depreciation and amortization

6,384

11,053

4,669

Gross profit

11,531

15.5(14,223)(42.5)(25,755)-

Selling, general and administrative expenses

15,70621.1

11,925

35.6(3,781)(24.1)

Personnel expenses

4,998

4,820

(177)

Other expenses

9,276

5,694

(3,582)

Depreciation and amortization

1,431

1,409

(21)

Operating profit(4,175)(5.6)(26,148)(78.1)(21,973)-

B

Theme Park Segment(3,842)(5.2)(23,598)(70.5)(19,755)-④

Hotel Business Segment

124

0.2

(1,575)(4.7)(1,700)-⑤

Other Business Segment

(566)

(0.8)

(1,088)

(3.2)

(521)

-

⑥

(Elimination and corporate)

108

0.2

113

0.3

4

4.1

Non-operating income

380

0.5

186

0.6

(193)

(50.9)

Non-operating expenses

500

0.7

1,392

4.2

891

178.1

(4,295)(5.8)(27,354)(81.7)(23,059)-

Extraordinary income

341

0.5

-

-

(341)

-

Extraordinary losses

9,270

12.5

5,265

15.8

(4,005)(43.2) ⑦

Profit before income taxes(13,224)(17.8)(32,619)(97.5)(19,395)-

Income taxes(4,449)(6.0)(7,157)(21.4)(2,708)-

Profit(8,775)(11.8)(25,462)(76.1)(16,687)-

Profit attributable to owners of parent(8,775)(11.8)(25,462)(76.1)(16,687)-

Ordinary profit

15

C[A. ¥40.7 Billion (54.9%) Decrease in Net Sales](Millions of yen)Three months
ended March
31, 2020

Three months
ended March
31, 2021① Theme Park Segment

59,90825,134(34,774)(58.0)

Attractions and shows

28,494

12,486(16,008)(56.2)

Merchandise

19,393

7,767(11,625)(59.9) ・Decrease by limited Theme Park attendance

Food and beverages

10,745

3,790(6,955)(64.7)

Others

1,274

1,089

(184)

(14.5)

10,855

6,469(4,385)(40.4)

Disney Hotels*1

9,500

5,769

(3,730)(39.3) ・Decrease in accommodation revenue due to limited number of rooms sold

Other Hotels

1,354

699

(655)

(48.4)

3,481

1,864

(1,617)(46.5)Items② Hotel Business Segment③ Other Business Segment

Primary reasons for change

Change (%)

ChangeIkspiari

1,005

1,098

93

9.3

Monorail

826

156

(670)

(81.1)

Others

1,649

609(1,040)(63.1)･Decrease in Monorail Business due to limited Theme Park attendance*1 Including Disney Ambassador Hotel, Tokyo DisneySea Hotel MiraCosta, Tokyo Disneyland Hotel and Tokyo Disney Celebration Hotel.

[B. ¥21.9 Billion Decrease in Operating Profit](Millions of yen)

Items

Three months
ended March
31, 2020

Three months
ended March
31, 2021

ChangePrimary reasons for change

Change (%)④ Theme Park Segment(3,842)(23,598)(19,755)

・Decrease in net sales
・Increase in merchandise and food/beverages sales cost ratio [¥(8.0 billion)]*2
・Decrease in personnel expenses [¥2.9 billion]*2-Decrease due to receipt of employment adjustment subsidy, etc.
・Decrease in miscellaneous costs [¥7.5 billion]-Decrease in maintenance costs, sales promotion costs, costs related to special events,
etc.
・Increase in depreciation and amortization expenses [¥(4.4 billion)]⑤ Hotel Business Segment

124(1,575)(1,700)-⑥ Other Business Segment(566)(1,088)(521)

・Decrease in net sales
・Decrease in miscellaneous costs- ・Decrease in net sales, etc.

*2 Of the employment adjustment subsidy received due to the COVID-19 pandemic, the amount received (including the estimated amount to be received) for reasons other than
the temporary closure of our Parks was deducted from operating expenses.

[C. ¥16.6 Billion Decrease in Profit Attributable to Owners of Parent]⑦ Decrease in Extraordinary Loss・Impairment loss in Brighton Hotel business in Hotel Business Segment
・Loss on temporary closure in the previous fourth quarter
・Other

¥5.6 billion¥(9.2 billion)¥(0.3 billion)

16Ｏｒｉｅｎｔａｌ Ｌａｎｄ Ｃｏ., Ｌｔｄ.
Investor Relations Group, Finance/Accounting Department
URL: http://www.olc.co.jp/en

This document includes statements about Oriental Land’s plans, estimates, strategies and beliefs. The statements made thatare not based on historical fact represent the assumptions and expectations of Oriental Land in light of the information
available to it as of the date when this document was prepared, and should be considered as forward-looking.
Oriental Land uses a variety of business measures to constantly strive to increase its net sales and management efficiency.
However, Oriental Land recognizes that there are certain risks and uncertainties that should be considered which could cause
actual performance results to differ from those discussed in the forward-looking statements.
Potential risks could include, but are not limited to, weather, general economic conditions, and consumer preferences.
Therefore, there is no firm assurance that the forward-looking statements in this document will prove to be accurate.
Theme park attendance figures have been rounded. Financial figures have been truncated.
All rights reserved.