ORIENTAL LAND CO., LTD.
4661・Prime Market・Services
Theme Park
The core segment of the OLC Group, accounting for over 80% of consolidated revenue and operating income.
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment revenue (cumulative Q3 of FY2026 (ending March 2026)) | ¥427,934 million | ¥410,981 million (cumulative Q3 of FY2025 (ended March 2025)) | ↑ |
| Segment operating income (cumulative Q3 of FY2026 (ending March 2026)) | ¥109,981 million | ¥109,680 million (cumulative Q3 of FY2025 (ended March 2025)) | ↑ |
| Attractions & Shows revenue (cumulative Q3 of FY2026 (ending March 2026)) | ¥217,220 million | ¥208,988 million (cumulative Q3 of FY2025 (ended March 2025)) | ↑ |
| Merchandise Sales revenue (cumulative Q3 of FY2026 (ending March 2026)) | ¥127,016 million | ¥122,403 million (cumulative Q3 of FY2025 (ended March 2025)) | ↑ |
| Food & Beverage Sales revenue (cumulative Q3 of FY2026 (ending March 2026)) | ¥73,873 million | ¥69,291 million (cumulative Q3 of FY2025 (ended March 2025)) | ↑ |
| Segment revenue (full year FY2025 (ended March 2025)) | ¥552,136 million | — | — |
| Segment operating income (full year FY2025 (ended March 2025)) | ¥140,428 million | — | — |
Business Details
This segment manages and operates the two parks, Tokyo Disneyland and Tokyo DisneySea. It consists of four categories: Attractions & Shows revenue, Merchandise Sales revenue, Food & Beverage Sales revenue, and Other revenue. Under a license agreement with Disney Enterprises, Inc., the segment leverages a unique competitive advantage on its own land near the Tokyo metropolitan area. In addition to its domestic customer base, it also captures inbound foreign visitors, forming a broad customer-attraction structure.
Recent Overview
For the cumulative nine months of FY2026 (ending March 2026), Theme Park segment revenue grew a solid 4.1% year on year.
For the nine months ended December 2025 (cumulative Q3 of FY2026 (ending March 2026)), Theme Park segment revenue was ¥427,934 million (versus ¥410,981 million in the same period of the prior year, +4.1%), and segment operating income was ¥109,981 million (versus ¥109,680 million in the same period of the prior year, +0.3%). Attractions & Shows revenue, Merchandise Sales revenue, and Food & Beverage Sales revenue all exceeded the levels of the same period of the prior year. On the other hand, the growth in operating income was more limited than the growth in revenue, suggesting continued upward cost pressure.
Key Products
Growth Drivers
- Increase in attendance and per-guest spending driven by Tokyo DisneySea's "Fantasy Springs" (opened June 2024)
- Favorable trend in the number of overseas guests driven by an increase in inbound foreign visitors to Japan
- Strong sales of value-added tickets such as Disney Premier Access and the 1-Day Passport: Fantasy Springs Magic
- Sustained visitor attraction through the implementation of seasonal special events
- Continued facility investment to enhance appeal, including the renewal of the area around "Space Mountain" at Tokyo Disneyland (scheduled to open in 2027)
Risks
- Cost pressure from increases in personnel expenses, general expenses, and depreciation (limited growth in operating income relative to revenue growth)
- Risk of a mid- to long-term contraction in the visitor base due to a decline in Japan's young population and labor force
- Cash flow burden associated with large-scale capital investment, including the cruise business (scheduled to launch in FY2028, with an investment budget of approximately ¥330.0 billion)
- Dependence on the license agreement with Disney Enterprises, Inc.
- Geopolitical and natural disaster risk from the concentration of operations in the Maihama area
Last updated: June 25, 2026