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Earnings presentation materials4661ORIENTAL LAND CO.,LTD.Information and Communications, Services and Others

Second-quarter financial results for the fiscal year ending March 2027

Revenue and profit increased in the first half, driven by higher attendance and revenue per guest, among other factors, while revenue, operating profit and operating cash flow reached record highs. In light of the strong first-half results and the expectation that this performance will continue in the second half, the full-year earnings forecasts were revised upward, and the annual dividend forecast was also raised to ¥18 per share.

Worth reading
76Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Improvement
Direction inferred from the company’s description.
Scale
390
¥100 million (increase from the initial full-year revenue forecast)
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentation materialsSecond quarter of the fiscal year ending March 202711 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥3,487 hundred million+10.3%
Operating profit¥784 hundred million+15.0%
Ordinary income¥900 hundred million+29.9%
Net income¥618 hundred million+28.1%
Full-year earnings forecast
Net Sales
¥7,633 hundred million
Operating profit
¥1,854 hundred million
Ordinary income
¥1,957 hundred million
Net income
¥1,335 hundred million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
First-half results exceeded the initial forecasts
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Operating profit from theme park operations
Increase in revenueFactors contributing to higher profit
Decrease in the cost ratio for merchandise and food and beverages11
Increase in personnel expenses-51
Increase due to recognition of performance bonuses-30
Increase in full-time employee personnel expenses, etc.-21
Increase in other expenses-44
Increase in expenses related to the 25th-anniversary event at Tokyo DisneySea-12
Increase in energy costs-6
Increase in entertainment-related expenses-6
Decrease in depreciation expenses6
Comparison with initial forecast
Decrease in miscellaneous expenses40
Decrease in research and development expenses10
Decrease in entertainment-related expenses5
Decrease in system-related expenses5
Decrease in sales promotion expenses5
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Foreign exchange assumptions for the cruise business
Euro
165 JPY/EUR
Dollar
155 Yen/Dollar
Cruise business launch timingSecond half of FY2028 (spring 2029)
Cruise daysApproximately 2–4 nights
Cruise unit price¥100,000–¥300,000 per person
New initiatives
  • Launch of the new entertainment offering “The D-Groovationz4 Live: Happy! Funky! Groovy! Tour”
  • Reopening of Indiana Jones Adventure: Temple of the Crystal Skull
  • The seventh installment of “Disney Pal-Palooza,” “Minnie's Funderland”
  • Scheduled opening of “Sugar Rush: Sweet Rescue”
  • Scheduled opening of “Bring the Rhythm!”
  • Announcement of the cruise ship name, “Disney Imagination”
Key KPIsA metric the company considers important as a management benchmark.
  • Attendance1,310 10,000 people+6.9%
  • Revenue per guest18,940 Yen+4.1%
  • Disney hotel occupancy rate94.8 %
  • Average room rate at Disney hotels68,332 Yen+2.3%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Attendance
1,310 10,000 people+6.9%
Revenue per guest
18,940 Yen+4.1%
Average room rate at Disney hotels
68,332 Yen+2.3%
Disney hotel occupancy rate
94.8 %
yoy_change_pt2.5
Segment results
Theme park business
Net Sales
¥2,813 hundred million+11.7%
Operating profit
¥607 hundred million+22.0%
Hotel Business
Net Sales
¥590 hundred million+5.2%
Operating profit
¥170 hundred million-2.6%
Other Businesses
Net Sales
¥83 hundred million+0.4%
Operating profit
¥6 hundred million-10.3%
Market Size / Share
Total domestic tourism and leisure market travelers370 million people
Annual domestic cruise users250,000 domestic cruise passengers per year
Cruise participation rate per capita in Japan0.2%
Cruise participation rate per capita in the United States5.9%
Capital expenditures
¥2,223 100 million revised full-year forecast
Annual Dividend
¥18 /share
Breakdown
Interim9
End of period9
Payout ratio
31 %
Contents of this document
ItemDetails
Document typeEarnings presentation materials
Fiscal Period CoveredSecond quarter of the fiscal year ending March 2027
Net Sales¥3,487 hundred million (YoY +10.3%)
Operating profit¥784 hundred million (YoY +15.0%)
Ordinary income¥900 hundred million (YoY +29.9%)
Net income¥618 hundred million (YoY +28.1%)
Full-year earnings forecastNet Sales ¥7,633 hundred million / Operating profit ¥1,854 hundred million / Ordinary income ¥1,957 hundred million / Net income ¥1,335 hundred million
Self-assessment against the planFirst-half results exceeded the initial forecasts
Segment resultsTheme park business Net Sales ¥2,813 hundred million (YoY +11.7%) / Operating profit ¥607 hundred million (YoY +22.0%) / Hotel Business Net Sales ¥590 hundred million (YoY +5.2%) / Operating profit ¥170 hundred million (YoY -2.6%) / Other Businesses Net Sales ¥83 hundred million (YoY +0.4%) / Operating profit ¥6 hundred million (YoY -10.3%)
Breakdown of Factors Affecting the ChangeOperating profit from theme park operations Increase in revenue Factors contributing to higher profit / Decrease in the cost ratio for merchandise and food and beverages 11 / Increase in personnel expenses -51 / Increase due to recognition of performance bonuses -30 / Increase in full-time employee personnel expenses, etc. -21 / Increase in other expenses -44 / Increase in expenses related to the 25th-anniversary event at Tokyo DisneySea -12 / Increase in energy costs -6 / Increase in entertainment-related expenses -6 / Decrease in depreciation expenses 6 / Comparison with initial forecast Decrease in miscellaneous expenses 40 / Decrease in research and development expenses 10 / Decrease in entertainment-related expenses 5 / Decrease in system-related expenses 5 / Decrease in sales promotion expenses 5
Key KPIsAttendance 1,310 10,000 people (YoY +6.9%), Revenue per guest 18,940 Yen (YoY +4.1%), Disney hotel occupancy rate 94.8 %, Average room rate at Disney hotels 68,332 Yen (YoY +2.3%)
Unit price and quantity metricsAttendance 1,310 10,000 people (YoY +6.9%) / Revenue per guest 18,940 Yen (YoY +4.1%) / Average room rate at Disney hotels 68,332 Yen (YoY +2.3%) / Disney hotel occupancy rate 94.8 %
Assumptions Underlying the Business OutlookForeign exchange assumptions for the cruise business Euro 165 JPY/EUR / Dollar 155 Yen/Dollar / Cruise business launch timing Second half of FY2028 (spring 2029) / Cruise days Approximately 2–4 nights / Cruise unit price ¥100,000–¥300,000 per person
Annual Dividend¥18 /share
Payout ratio31 %
Capital expenditures¥2,223 100 million (revised full-year forecast)
Market Size / ShareTotal domestic tourism and leisure market travelers 370 million people / Annual domestic cruise users 250,000 domestic cruise passengers per year / Cruise participation rate per capita in Japan 0.2% / Cruise participation rate per capita in the United States 5.9%
New initiativesLaunch of the new entertainment offering “The D-Groovationz4 Live: Happy! Funky! Groovy! Tour”, Reopening of Indiana Jones Adventure: Temple of the Crystal Skull, The seventh installment of “Disney Pal-Palooza,” “Minnie's Funderland”, Scheduled opening of “Sugar Rush: Sweet Rescue”, Scheduled opening of “Bring the Rhythm!”, Announcement of the cruise ship name, “Disney Imagination”
Items this document does not state (13)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAcquisition of treasury sharesOrders received and order backlogKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

The reasons cited are higher attendance driven by the strong performance of the 25th-anniversary event at Tokyo DisneySea, higher revenue per guest, increases in average hotel room rates and occupancy rates, and the expectation that strong performance will continue in the second half.

How to read this page

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Second-quarter financial results for the fiscal year ending March 2027 | ORIENTAL LAND CO.,LTD. (4661) timely disclosure | Komori