Please try againPostmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. "At Hong Kong Disneyland, we currently estimate the closure of the park could have an additional adverse impact to operating income of about $40 million for the second quarter." A month after Disney parks in Hong Kong and Shanghai shut down to prevent the spread of COVID-19, Tokyo Disneyland said it will close for two weeks.
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There are a total of 530 confirmed coronavirus cases in Japan as of Tuesday. Facebook Tweet Pin Email.
TOKYO: The operator of Tokyo's two Disney resorts, Disneyland and DisneySea, said Friday (Feb 28) the parks would be closed for around two weeks on fears over the outbreak of COVID-19. TOKYO — Tokyo Disneyland will be closed starting from Saturday through to March 15 due to concerns about coronavirus infections spreading in Japan, its operator said on Friday, leaving all of Walt Disney Co’s theme parks in Asia temporarily shut.Both Tokyo Disneyland and DisneySea will be closed after a government recommendation that big gatherings and events be curtailed for two weeks, park operator Oriental Land Co Ltd said.The move also comes after Prime Minister Shinzo Abe called for all schools to close to stop the coronavirus spreading.“We plan to reopen on March 16, but we will make an announcement after keeping close contact with relevant institutions,” Oriental Land said on its website.It said it would inform ticket holders of policies on refunds.Disney’s Shanghai and Hong Kong theme parks remain closed for more than a month, and the company earlier this month warned of a negative impact on its second quarter results.It said on an earnings call on Feb. 5 that closure of the Shanghai park could impact operating profit by about $135 million if closed for 2 months. The Shanghai park is a joint venture with a Chinese that is split into two companies. Read more about In-depth reporting on the innovation economy from The Logic, brought to you in partnership with the Financial Post.This advertisement has not loaded yet, but your article continues below.Tokyo Disneyland to close through mid-March on coronavirus concernsTokyo Disneyland to close through mid-March on coronavirus concernsTokyo Disneyland to close through mid-March on coronavirus concernsTokyo Disneyland to close through mid-March on coronavirus concerns Tokyo Disneyland said Friday that it would close for two weeks as a precaution against the spread of coronavirus in Japan, one day after Prime Minister Shinzo Abe asked schools nationwide to close for most of March.The park will be closed beginning Saturday with plans to reopen on March 16. Tokyo Disneyland.
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Universal Studios Japan and Legoland Japan followed suit, announcing a similar two-week closure starting Saturday to, as both parks' websites say, "prevent the spread of Novel Coronavirus." (For the sake of estimating its losses, she said the company is operating on the assumption that the Chinese parks will be closed for two months. The CDC has issued a level 2 travel health notice for Japan.
Disneyland, Disney World, Disneyland Paris to temporarily close amid coronavirus fears. Disney holds a 70% stake in one and owns 43% of the second one.The closure of Tokyo Disneyland will not affect Disney's numbers as dramatically as the Chinese parks because it only earns royalties on that facility, which is owned and operated by a third-party Japanese company.
The business is vulnerable to the economic toll of the virus, which is at risk of spreading in big crowds.
As coronavirus continues to spread throughout Asia and the rest of the world, Tokyo …
Posted on January 28, 2020 by Bailee Abell. Here's when Disney is reopening its global theme parks following COVID-19 closures.
The precise magnitude of the financial impact is highly dependent on the duration of the closures and how quickly we can resume normal operations. "On Tuesday, new Disney CEO Bob Chapek told told CNBC, "While this is certainly a bump in the road in terms of the coronavirus, we’ll come through like we’ve come through every other challenge that we’ve had, and that affinity for the brand and our storytelling will way outlast any type of short-term blip that we have from corona.”The Walt Disney Company owns a 47% stake in the Hong Kong park. According to data from Johns Hopkins Center for Systems Science and Engineering, there have been 228 cases, not counting the 705 cases and the deaths of four Japanese passengers and one British man from the Diamond Princess cruise ship quarantined in Yokohama.
“This is to prioritize the health and safety of the children and take precautions to avoid the risk of possible large-scale infections.”Two Disneyland resorts in Shanghai, China, and Hong Kong have been closed since Jan. 26In a Feb. 4 earnings call, Disney’s finance chief Christine McCarthy said that the company will feel the impact of those closures in its second-quarter and full-year results – to the tune of $175 million.