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The Oriental Land Company

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"OLC Group" redirects here. For other uses, see OLC (disambiguation).
The Oriental Land Company, Limited
Native name
株式会社オリエンタルランド
Kabushiki-gaisha Orientaru Rando
Company typePublic Subsidiary (Kabushiki gaisha)
TYO: 4661
TOPIX Large70 component
IndustryTravel
FoundedJuly 11, 1960; 64 years ago (1960-07-11)
Headquarters
Urayasu, Chiba
,
Japan
Key people
BrandsTokyo Disney Resort
ServicesHotel rental
Theme park
RevenueUS$3,767.6 m (March 31, 2015)
US$893.7 m (March 31, 2015)
US$582.3 m (March 31, 2015)
Total assetsUS$6,032.9 m (March 31, 2015)
Total equityUS$4,558.2 (March 31, 2015)
OwnerMitsui Fudosan (6.65%)
Number of employees
4,438[1]
ParentKeisei Electric Railway (22.06%)
Subsidiaries
  • Milial Resort Hotels Co., Ltd.
  • IKSPIARI Co., Ltd.
  • Brighton Co., Ltd.
  • Maihama Resort Line Co.[2]
Websitewww.olc.co.jp
Footnotes / references
[3]
Tokyo Disney Resort
Theme parks
Resort hotels
Shopping, dining and entertainment
The Oriental Land Company

The Oriental Land Company, Limited, also known as Oriental Land[4] (株式会社オリエンタルランド, Kabushiki-gaisha Orientaru Rando) is a Japanese leisure and tourism subsidiary of the Keisei Electric Railway Company, headquartered in Urayasu, Chiba, Japan where it also owns and operates the Tokyo Disney Resort. The company operates in three segments, divided as theme parks, hotels, and other business.[1] It is a component of the TOPIX Large70 index.

Oriental Land pays licenses and royalties to The Walt Disney Company for use of their intellectual properties, while Disney provides consultation and their Imagineering division to design and build Oriental Land's theme parks and attractions at the resort. The Oriental Land Company is the only Disney resort company that has no capital relationship with Disney.

History

The Oriental Land Company was founded in 1960.[1] The company was developing Maihama, an area of land in Urayasu that was created through land reclamation.[5] Two years later, the company contacted Disney about building a theme park.[6] OLC was also building a few shopping centers in Chiba Prefecture.[5]

In 1979, Oriental and Disney agreed to build the theme park.[6] Tokyo Disneyland opened on April 15, 1983 on 200 acres in Maihama.[5][7] The company borrowed $1.4 billion for Disneyland which they paid off in three years.[8]

Disney announced in November 1995 the building of Tokyo DisneySea to be owned by Oriental next to the Tokyo Disneyland.[7] Oriental and Disney signed the DisneySea licensing agreement in November 1997 with the theme park to open in 2001 at a cost of $2.6 billion.[9] In May 1999, the company sold two sets of bonds, $200 million in quake bonds and $406 million of bonds to fund DisneySea.[10][11] DisneySea opened on September 4, 2001 at only $200 million over budget.[12]

In 2000, OLC formed Ikspiari Co., Ltd. to run Ikspiari.[13]

Even though the Disney Stores maintained strong sales, mounting cost of sales and operation and the loss of key executives who had driven the Disney Stores to success led The Walt Disney Company to convert the Disney Stores into a licensed operation. The Japanese stores were sold to the company in April 2002 and placed into Retail Networks Co., Ltd. subsidiary.[14][15]

In October 2008, Oriental Land Company announced that it and Disney had shelved plans for a new Disney complex in a major Japanese city. The company and Disney had spent more than a year studying an urban-style amusement facility for 2010 or later, but ended planning due to low profits expected versus the investment. The firm said it would continue to explore possibilities for a new business, which might not involve Disney.[16]

The Oriental Land Company announced an agreement that it would sell Retail Networks Co., Ltd., its Japanese Disney Stores, back to The Walt Disney Company. Disney took over beginning on March 31, 2010, Retail Networks Co., Ltd., Oriental Land Company subsidiary owning the Disney Stores in Japan.[14] OLC's hotel subsidiary, Milial Resort Hotels Co., Ltd. purchased on March 29, 2013 the Brighton Corporation, another hotel company.[17]

On August 31, 2015, Create Restaurants Holdings Inc. fully acquired RC Japan Co., Ltd. from Oriental Land Co., Ltd. for 65 million yen.[18]

Corporate assets

References

  1. ^ a b c d e f "Company Overview of Oriental Land Co., Ltd". bloomberg.com Research. Bloomberg Business. Retrieved August 19, 2015.
  2. ^ a b c d "List of OLC Group Subsidiaries". olc.co.jp. Oriental Land group. Retrieved August 19, 2015.
  3. ^ "oriental land co ltd Profile". Research. Bloomberg Business. Retrieved August 19, 2015.
  4. ^ "About Oriental Land". olc.co.jp. Retrieved 10 May 2021.
  5. ^ a b c Shapiro, Margaret (December 16, 1989). "Unlikely Tokyo Bay Site Is a Holiday Hit". Los Angeles Times. Retrieved August 20, 2015.
  6. ^ a b "Disneyland in Tokyo Is a 10-Year Hit". Los Angeles Times. Associated Press. April 12, 1994. Retrieved August 20, 2015.
  7. ^ a b Miller, Greg (November 8, 1995). "Disney Plans Aquatic Park in Tokyo". Los Angeles Times. Retrieved August 20, 2015.
  8. ^ "Disney's Japan Venture Loses Some Luster". Los Angeles Times. Associated Press. April 7, 1993. Retrieved August 20, 2015.
  9. ^ "Disney, Partner to Build New Tokyo Theme Park". Los Angeles Times. Associated Press. November 27, 1997. Retrieved August 20, 2015.
  10. ^ "Owner of Tokyo Disneyland Sells Quake Bonds". Los Angeles Times. Bloomberg News. May 19, 1999. Retrieved August 20, 2015.
  11. ^ "Bonds Issued to Fund DisneySea in Japan". Los Angeles Times. Bloomberg News. May 20, 1999. Retrieved August 20, 2015.
  12. ^ Verrier, Richard (September 5, 2001). "Disney's New Tokyo Sea-Themed Park Opens". Los Angeles Times. Retrieved August 20, 2015.
  13. ^ "Company Overview of IKSPIARI CO.,LTD". Business Research. Bloomberg. Retrieved August 20, 2015.
  14. ^ a b "Company Overview of Retail Networks Co., Ltd". Company Profiles. Business Week. Archived from the original on January 18, 2013. Retrieved 27 November 2012.
  15. ^ "Disney to Sell Its Retail Stores in Japan". Los Angeles Times. Bloomberg News. September 11, 2001. Retrieved 27 November 2012.
  16. ^ Uranaka, Taiga (October 7, 2008). "Oriental Land scraps plan for new Disney facility". Reuters. Retrieved August 19, 2015.
  17. ^ a b Company Overview of Brighton Corporation. Bloomberg Business. Accessed on August 20, 2015.
  18. ^ "create restaurants holdings to fully acquire RC Japan from Oriental Land". Reuters. August 4, 2015. Archived from the original on August 16, 2016. Retrieved August 20, 2015.
  19. ^ "In Brief". Travel Trade Gazette UK & Ireland. October 2, 2000. Archived from the original on September 30, 2015. Retrieved August 20, 2015.
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