Oriental Land Co., the operator of the Tokyo Disneyland and DisneySea theme parks, said Thursday it posted record group net and operating profits in fiscal 2009 despite a decline in attendance.
The company booked a net profit of ¥25.43 billion, up 40.6 percent from a year earlier, mainly due to cost-cutting efforts. Operating profit rose 4.6 percent to ¥41.92 billion, on sales of ¥371.41 billion, down 4.6 percent, the company said.
For the reporting year, which ended in March, 25.82 million people visited the two entertainment sites, down 5.2 percent — its second-biggest rate of decline. This was largely the result of a normal fall from the surge in visitors generated by Tokyo Disneyland's 25th anniversary the previous year, the company said.
Operating and net profits expanded as the company trimmed expenses for promotional campaigns and other events.
In fiscal 2010, Oriental Land projects sales to slide 4 percent to ¥356.56 billion as attendance declines 0.1 percent. Net profit is forecast to inch up 1.6 percent to ¥25.83 billion.