Disney handing off Japan store ops

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.

Local synergies

“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.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety