Results for the First Quarter of
the Fiscal Year Ending March 2024
July 28, 2023
Oriental Land Co., Ltd.

Results for First Three Months of FY3/24 vs. FY3/23[¥ billion]
FY3/23 Results[1Q]

FY3/24 Results
[1Q]

98.1

140.6

42.4

43.2%

Theme Park Segment

79.8

116.5

36.6

45.9%

Hotel Business Segment

15.6

20.3

4.7

30.4%

Other Business Segment

2.7

3.7

1.0

37.4%

17.0

38.6

21.6

126.7%

32.4

16.9

109.8%

Consolidated Statement of Income
Net Sales

Operating Profit

ChangeChangeTheme Park Segment

15.4

Hotel Business Segment

1.6

5.9

4.2254.6%

Other Business Segment

(0.1)

0.1

0.3

-Ordinary Profit

17.5

39.0

21.5

123.2%

Profit before Income Taxes

17.5

39.0

21.5

123.2%

Profit Attributable to Owners of Parent

12.1

27.4

15.3

126.7%

2

Both net sales and operating profit increased year on year,
primarily due to a rise in attendance2

Results for First Three Months of FY3/24 vs. FY3/23 – Main Reasons for Change[¥ billion]
FY3/23 Results[1Q]

Theme Park Segment [1]FY3/24 Results
[1Q]

79.8*

Net Sales

116.5

Change36.6

Change45.9%*Revenue of 3.4 billion yen for expired tickets [sold by the beginning of May 2021] whose refund support ended by the end of May 2022 is recorded in net sales.

Y/Y ComparisonAttendance

Increased

Main Reasons for Change
・Increase thanks to Tokyo Disney Resort 40th
Anniversary events
・Increase due to sales of limited-period tickets
・Increase in the number of overseas Guest
・Increase due to eased limit on attendanceTokyo Disney Resort® 40th “Dream-Go-Round”
3A new daytime parade“Disney Harmony in Color”[Tokyo Disneyland®] ©Disney

Club Mouse Beat
[Tokyo Disneyland]©DisneyHarbor Greeting“Let’s Celebrate with Colors”[Tokyo DisneySea®] ©Disney

Duffy and Friends’
From All of Us[Tokyo DisneySea] ©Disney

Attendance increased due to Tokyo Disney Resort 40th Anniversary events,
sales of limited-period tickets and recovery of overseas Guests

3Results for First Three Months of FY3/24 vs. FY3/23 – Main Reasons for Change
Y/Y Comparison

Main Reasons for Change

Increased

Net Sales per Guest
Attractions and Shows

Increased・Increase in Disney Premier Access・Larger proportion of low-priced tickets

Merchandise

Increased・Strong sales of products related to Tokyo Disney
Resort 40th Anniversary

Food and Beverages

Decreased・Decrease in the proportion of Guests using table
service due to increased attendance

Two additional entertainment programs at Tokyo Disneyland included withDisney Premier Access in 1Q of FY3/24 [April 15]
Disney Harmony in Color©DisneyTokyo Disneyland
Electrical Parade Dreamlights
4©Disney

A total of 10 contents (7 attractions and 3 entertainment programs), up by 7 from thesame period of the previous FY, are now accessible with Disney Premier Access**See P13 of the Appendix for contents that are or are scheduled to be included with Disney Premier Access as of July 28, 2023.

Net sales per Guest increased year on year primarily owing torises in revenues from attractions and shows and merchandise4

Results for First Three Months of FY3/24 vs. FY3/23 – Main Reasons for Change[¥ billion]
FY3/23 Results[1Q]

FY3/24 Results[1Q]

Net Sales

79.8

116.5

36.6

45.9%

Operating Profit

15.4

32.4

16.9

109.8%

Theme Park Segment [2]ChangeIncrease in operating profit

Change[¥billion]

Increase in net sales

Increase in miscellaneous costs(3.7)

Increase in sales promotion costs(1.0)

Increase in maintenance costs

(0.4)

(2.9)

Increase in IT-related expenses(0.3)

Increase in personnel expenses forpart-time Cast Members(2.2)

Increase in costs related to 40thanniversary events(0.3)

Others(0.6)

Other(1.4)

Decrease in merchandise andfood/beverages cost ratio

0.3

Increase in personnel expenses

5

Increase in depreciation and amortization
expenses(0.3)

Increase in newly acquired assets, etc.

Note: Increase in costs is expressed by figures in parentheses, which show by how much operating profit decreased.

Operating profit grew due to an increase in net sales despite a rise in costs5Results for First Three Months of FY3/24 vs. FY3/23 – Main Reasons for Change[¥ billion]

Hotel Business Segment
Net Sales
Disney Hotels
Occupancy rate [%, pt]
Average charge per room [¥]Other Hotels
Operating Profit

FY3/23 Results[1Q]

FY3/24 Results
[1Q]

15.6

20.3

4.7

30.4%

14.3

18.3

3.9

27.6%

76.8

98.9

22.1

48,20649,807

1,601

3.3%

1.2

2.0

0.7

62.3%

1.6

5.9

4.2

254.6%

Increase in net sales
・Increase in accommodation revenue due to Tokyo Disney
Resort 40th Anniversary events

ChangeChange

6

Increase in operating profit
・Increase in net sales
・Increase in personnel expenses [¥(0.4 billion)]ー Increase in the number of employees and increase due tocompensation revision, etc.

Tokyo Disney Resort 40th “Dream-Go-Round”
special room
[Tokyo Disneyland Hotel®] ©Disney

Note: Increase in costs is expressed by figures in parentheses, which show by how much operating profit decreased.

Both net sales and operating profit increased year on year,
primarily owing to Tokyo Disney Resort 40th Anniversary events6Results for First Three Months of FY3/24 vs. FY3/23 – Main Reasons for Change[¥ billion]
FY3/23 Results[1Q]

FY3/24 Results[1Q]

Net Sales

2.7

3.7

1.0

37.4%

Operating Profit (Loss)

(0.1)

0.1

0.3-

Other Business Segment

ChangeChange

Increase in net sales
・ Increase in Monorail business due to a rise in the number of passengers
・ Increase in Ikspiari business due to greater real estate rent revenue
Increase in operating profit

7・ Increase in net sales

Exterior ©DisneyInterior ©Disney

Disney Resort Line featuring themed monorail trainsin celebration of the 40th anniversary of Tokyo Disney Resort

Operating profit moved back into the black thanks toincreases in net sales of Monorail and Ikspiari businesses

7Results for First Three Months of FY3/24 vs. Forecast – Main Reasons for Change

Comparisonwith forecast

Main reasons for change

・Attendance: Higher than projected

ー Increase thanks to Tokyo Disney Resort 40th Anniversary eventsー Increase in the number of overseas Guests
ー Increase in demand for limited-period tickets

・Net sales per Guest: Slightly higher than projected
Higher thanprojected

Net sales

・Attractions and shows: Lower than projected
ー Larger proportion of low-priced tickets

・Merchandise: Higher than projected
ー Strong sales of products related to Tokyo Disney Resort 40th Anniversary
8ー Strong sales of regular products

・Food and beverages: Higher than projected
ー Strong sales of food souvenir items related to Tokyo Disney Resort 40th Anniversary

Operating profit

Higher thanprojected

・Higher-than-projected net sales
・Lower-than-projected merchandise and food/beverages ratio
・Higer-than-projected personnel expenses
・Lower-than-projected miscellaneous costs

The financial results exceeded our initial forecast
due to better-than-expected attendance and other factors

8Forecast for First Half and Full FY3/24

A high volume of attendance is expected in the 2nd quarter and after,
significantly affecting full fiscal year performance.

9First half and full fiscal year forecast for FY3/24 has not beenrevised, as we would like to disclose a more accurate forecast
based on careful analysis of the 2nd quarter.

We have not revised our forecast of the consolidated financial results
for the 1st half and full FY3/249

New Service in Commemoration of 40th Anniversary and Ticket Price Revision based on Variable Pricing

Introduction of Tokyo Disney Resort 40th Anniversary Priority Pass
Limited-period service that allows Guests to enjoy certain attractions with a reduced wait time
Intro. Date ︓July 26, 2023
Price︓Free of charge

How to obtain ︓Choose an applicable attraction by using the Tokyo Disney Resort app after entering a Park
Attractions

︓A total of 14 attractions are available to choose from, 7 each at Tokyo Disneyland and Tokyo DisneySea**For the Tokyo Disney Resort 40th Anniversary Priority Pass experiences, please refer to Appendix P13.

Ticket price revision based on variable pricing
Two new prices added with a wider gap between prices to further even out attendance
Ticket prices [for 1-Day Passport, Adult]

10¥10,900¥9,900
Before¥9,400¥8,900From Oct. 1,2023¥9,400¥8,900¥8,400¥8,400¥7,900¥7,900Adopted new measures with the aim of enhancing experienceby providing more options and further evening out attendance10Tokyo Disney Resort 40th Anniversary Special Contents

Special ParadeCity

Date

Urayasu, Chiba Pref.

Apr. 29, 2023

Wakayama, Wakayama Pref.

May 5, 2023

Kobe, Hyogo Pref.

May 28, 2023

Niigata, Niigata Pref.

Jun. 18, 2023

Toyama, Toyama Pref.

Sep. 23, 2023

Ise, Mie Pref.

Oct. 8, 2023

Iwakura, Aichi Pref.

Oct. 22, 2023

Tateyama, Chiba Pref.

Nov. 12, 2023

Chiba, Chiba Pref.

Nov. 23, 2023

Special Parade ©Disney

11

Special Drone Show
CityDate

Shizuoka, Shizuoka Pref.

Jul. 22, 2023

Otaru, Hokkaido Pref.

Jul. 30, 2023

Ishinomaki, Miyagi Pref.

Aug. 5, 2023
Special Drone Show ©DisneyNotes: Parades and shows are subject to change due to weather conditions, etc.
All photos are concept images. Plans announced as of July 28, 2023.

We are delivering dreams and smiles from Tokyo Disney Resort throughspecial parades and fireworks festivals at different locations across Japan

11

Appendix

Disney Premier Access and Tokyo Disney Resort 40th Anniversary Priority Pass

Disney Premier AccessContents◆Enchanted Tale of Beauty andthe Beast

Intro. datePrice

May 19, 2022

¥2,000◆Splash MountainDec.1, 2022

◆The Happy Ride with Baymax◇Disney Harmony in Color◇Tokyo Disneyland Electrical
Parade Dreamlights◇Spooky “Boo!” Parade.

Intro. Date

Price

◆Soaring: Fantastic FlightMay 19, 2022

¥2,000¥1,500◆Toy Story Mania!

Jun. 10, 2022

¥2,000

Dec.1, 2022

¥1,500◇Believe! Sea of Dreams

Nov. 11, 2022

¥2,500

Apr. 15, 2023

¥2,500◆Tower of Terror

Dec. 9, 2022

¥1,500

Apr. 15, 2023

¥2,500◆Journey to the Center ofthe Earth

Dec. 9, 2022

¥1,500Sep. 15, 2023*

TBDNEWNEWNEWContents

13*Included with Disney Premier Access from Friday, September 15 to Tuesday, October 31, 2023.

◆︓Attraction ◇︓ParadeTokyo Dinsey Resort 40th Anniversary Priority Pass NEW
Attraction

Attraction

Start Tours: The Adventures Continue

Aquatopia get soaked version*Space Mountain

Indiana Jones® Adventure: Temple of the Crystal Skull

Buzz Lightyear’s Astro Blasters

20,000 Leagues Under the Sea

Big Thunder Mountain

Turtle Talk

Pooh’s Hunny Hunt

Nemo & Friends SeaRider

Haunted Mansion

The Magic Lamp TheaterMonsters, Inc. Ride & Go Seek!

Raging Spirits

Note: Information as of July 28, 2023
*Tokyo Disney Resort 40th Anniversary priority Pass for Aquatopia will be offered only for a limited period [through September 6].

©Disney

13

Theme Parks Event Calendar for FY3/24
Apr.

May

Jun.

Apr. 15, 2023 to Mar. 31, 2024

NEW

Aug.

Jul. 4 to Sep. 6☆Splash Mountain“get soaked MAX”

Sep. 15toOct. 31

Jul. 4 toSep. 6NEW

☆Baymax’s Mission:Cool Down↑★DisneyHalloween

Jul. 4 to
Sep. 6

NEW☆Get soaked Toontown

Tokyo DisneySea

Tokyo Disney Resort 40th “Dream-Go-Round”

NEW

Jul. 4 to Sep. 6☆Aquatopia get soakedversion

14Oct.

Nov.

Tokyo Disneyland

Apr. 15, 2023 to Mar. 31, 2024
Sep. 15
toOct. 31★DisneyHalloween

Tokyo DisneySea

Apr. 15, 2023 to Mar. 31, 2024
Sep. 15
toOct. 31★DisneyHalloween

Dec.

★Disney Christmas

Feb.

↑★DisneyHalloween

Mar.

Jan. 1to 8→ ☆New Year’s Special Event

Tokyo Disney Resort 40th “Dream-Go-Round”

NEW

Nov. 8 toDec. 25

Jan.

Sep. 15
toOct. 31

Tokyo Disney Resort 40th “Dream-Go-Round”

NEWNov. 8 toDec. 25

Sep.

Tokyo Disney Resort 40th “Dream-Go-Round”

Tokyo Disneyland

Apr. 15, 2023 to Mar. 31, 2024

Jul.

★Disney Christmas

Jan. 1to 8→ ☆New Year’s Special Event★: Special events ☆: Programs ◆: New attractions and shows
Note: Program titles, contents, and dates are subject to change. Plans announced as of July 28, 2023

14

Theme Parks Event Calendar for FY3/23
Apr.

May

Jun.

Jul.

Aug.

Sep.
Sep. 15
toOct. 31★Disney Easter

Apr. 1 to Jun. 30
Tokyo Disneyland↑★Disney Halloween

Apr. 1 ☆ Start of Dance Program for kids “Jamboree Mickey! Let’s Dance!”
Apr. 1 to Aug. 31☆Buzz Lightyear’s Astro Blasters “Astro Hero Time!”

NEWNEW

Jul. 1 to NEW
Aug. 31

Tokyo DisneySea

Sep. 4, 2021 to Sep. 3, 2022
Apr. 1 to Sep. 3
Apr. 1

Tokyo Disneyland

Sep. 15
toOct. 31

NEW☆Splash Mountain“Get Wet MAX”
Sep. 15
toOct. 31

Tokyo DisneySea 20th: Time to Shine!

↑★Disney Halloween☆“Tokyo DisneySea 20th ‘Shining with You’”

NEW15☆Start of Dance Program for kids “Jamboree Mickey! Let’s Dance!”

Oct.

Nov.

★DisneyHalloween

Nov. 8 toDec. 25

Dec.
★Disney Christmas

Jan.
Jan. 1
to 16

Feb.

Tokyo DisneySea★DisneyHalloween

Nov. 8 toDec. 25★Disney Christmas

Jan. 1to 16

NEWNEW★Minnie Besties Bash!

→ ☆New Year’s Special Event
Jan. 18 toMar. 31

Nov. 11Mar.

→ ☆New Year’s Special Event
Jan. 18 toMar. 31

Sep. 15
toOct. 31

Sep. 15↑◆Renewal of “Mickey's PhilharMagic”

NEW★Minnie Besties Bash!

◆Start of New nighttime entertainment “Believe! Sea of Dreams”★: Special events ☆: Programs ◆: New attractions and shows

15

Ｏｒｉｅｎｔａｌ Ｌａｎｄ Ｃｏ., Ｌｔｄ.
Investor Relations Group, Finance/Accounting Department
URL: www.olc.co.jp/en
Cautionary Statement:
The purpose of this document is to provide information on the operating results and future management strategies of
the OLC Group, and not to solicit investment in securities issued by the Company.
The data disclosed in this document are based on the judgments and available information as of the date of publication.
The OLC Group's business is sensitive to factors such as customer preferences, and social and economic conditions,and therefore the forecasts and outlook presented in this document contain uncertainties.
Theme Park attendance figures have been rounded, and financial figures have been truncated.
Please refrain from reprinting this document.