Business / Corporate

Disney outlines ¥500 billion expansion of Tokyo theme parks

Bloomberg

Oriental Land Co., owner of the Tokyo Disney Resort, announced plans for a ¥500 billion expansion of the Japanese resort.

The 10-year project beginning in March will boost capacity at both of the resort’s theme parks, Tokyo Disneyland and Disney Sea, Walt Disney Co. said on its website.

The expansion will almost double the size of the Fantasyland section and create a new theme port at Disney Sea. The changes will include special viewing areas for parades and shows, as well as enhanced restaurants and shops, Burbank, California-based Disney said.

Disney is undertaking big projects to attract theme park visitors around the world, including the opening of a new resort in Shanghai. The company also recently committed to fresh spending at its property in Paris.

A $1.1 billion remodeling of its California Adventure park in Anaheim, California, completed in 2012, led to a 35 percent increase in attendance over two years, according to visitor data from the Themed Entertainment Association, an industry trade group.

Oriental Land owns the Japanese resorts, paying Disney a royalty on sales, according to company filings.

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