Transaction with Oriental Land Co. to be completed in April
HOLLYWOOD — Oriental Land Co., operator of the Tokyo Disneyland and the new Tokyo DisneySea theme parks, will acquire Walt Disney’s Disney Store Japan for $51 million plus annual royalties, officials said Monday.
Plans call for Walt Disney Intl. Japan to spin off Disney Store Japan to a newly created subsidiary. Oriental Land would then acquire the shares of that new company and assume operating responsibility. Transaction is expected to be completed in April.
“This new arrangement is a natural extension of the long-standing relationship between the Walt Disney Co. and OLC,” Disney-Japan prexy Koji Hoshino said.
“Acquiring the Disney Store Japan provides an excellent platform for the future growth of OLC’s operations, and we hope to develop opportunities for synergy between the Disney Store Japan and Tokyo Disney Resort,” Oriental Land Prexy Toshio Kagami said.
The Disney Store Japan, which opened its first outlet in 1992, operates properties in several Japanese cities; a flagship store is located in the Ikspiari entertainment center at Tokyo Disney Resort. Disney has more than 700 Disney Store locations in nine countries.