Launch of a new business project Disney Cruises Coming to Japan Services Expected to Start from Fiscal Year 2028

License Agreement for Cruise Business Concluded with Disney Enterprises, Inc.

URAYASU, CHIBA— Oriental Land Co., Ltd. (hereinafter “the Company”) announced that Disney cruises are coming to Japan, and a license agreement was concluded today as follows with Disney Enterprises, Inc. (hereinafter “Disney Company”) regarding cruise business in Japan. This decision is based on the board of directors meeting held on July 9, 2024.

1. Objective
The Oriental Land Group has previously announced its goals for the year 2030, with the objective of contributing to our society, and achieving long term growth. The Company has remodeled its business structure, and is promoting actions to achieve further growth. As part of this effort, plans were being considered for a new business opportunity.

The Company reached a decision to enter into the cruise business in Japan, and has concluded a license agreement with the Disney Company to bring the magic of Disney cruises to the market. This decision was based on the potential growth of the cruise market in Japan, the experience the Company has gained in its theme park and hotel operations, and its strong relationship with the Disney Company which will serve as a great advantage for this business opportunity.

2. Overview
2-1. Description
Disney cruises were first launched in 1998 in the United States, and its fleet currently consists of five ships. Building on its success, three more ships are expected, and services are also scheduled to start in Singapore.

Disney cruises offer fun and relaxation for guests of all ages with the incredible entertainment, world-class dining and exceptional guest service. Cruise fare covers everything guests need for a magical vacation, including spacious accommodations, immersive experiences with Disney characters, a wide range of upscale and casual dining options, pools and recreation, and more. Certain incremental items such as some experiences, food, and beverage are associated with additional fees.

Based on the license agreement concluded with the Disney Company, constructions for shipbuilding will commence from Japanese fiscal year 2025, with the objective to become operational from Japanese fiscal year 2028.

2-2. Department responsible for this business project
Corporate Strategy Planning Department, Corporate Strategy Planning Division, Oriental Land Co., Ltd.

2-3. Investment amount specially set aside for the start of this business project
The total investment amount for this business is projected to amount to approximately 330 billion yen.

3. Schedule
1. Agreement concluded on July 9, 2024
2. Services to start from Japanese fiscal year 2028 (tentative)

4. Outlook
Services are scheduled to start from Japanese fiscal year 2028, as stated under 3. above, but any relevant matters such as those impacted by the consolidated financial results of the Company will be disclosed as soon as possible.

The Company has been offering guests immersive experiences through its theme park business at Tokyo Disney Resort®. This is a new opportunity to add another unique immersive Disney experience that will create lifelong memories for families. The family entertainment on Disney cruises will bring happiness and enjoyment for guests.

REFERENCE

1. Expected consolidated results for the current term (released April 26, 2024) and consolidated results from the previous term
(Unit: in million yen)

	Consolidated sales	Consolidated operating profit	Consolidated ordinary income	Net income for the present term attributable to the parent company shareholders
Expected consolidated results for the current term (March, 2025)	684,764	170,000	171,749	120,517
Consolidated results from the previous term (March, 2024)	618,493	165,437	166,005	120,225

2. Overview of this project:

Business	Ownership, management and operations of cruise business
Tonnage	About 140,000 gross tons
Number of guest rooms	About 1,250 rooms
Capacity	About 4,000 persons
Number of crew	About 1,500 persons
Registry	Japan (tentative)
Route	Mainly short distance departing from and arriving at ports around Tokyo metropolitan area
Total investment amount	About 330 billion yen (including construction, preparations, etc.)
Services to start	Japanese fiscal year 2028 (tentative)