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Oriental Land Co. (OLC) revealed further details of its plan to operate a Disney-branded cruise ship for the Japanese market.
According to documents released during the company's recent earnings call, the new cruise operation is part of a series of initiatives aimed at enhancing corporate value and shareholder returns.
OLC is currently building a Wish-class vessel at the Meyer Werft shipyard, as part of a previously announced agreement with Disney Cruise Line.
Referring to the cruise business as Disney Cruise Line Japan, the company confirmed that the 2,500-passenger ship will be launched in late 2028 and will fly the Japanese flag.
According to OLC, the 140,000-ton ship is being built at a cost of approximately $1.85 billion (290 billion yen), with a $255 million (40 billion yen) contingency fund in place.
The ship will feature a design based on the Disney Wish, which debuted in 2022, with elements adapted for Japanese guests.
Year-round service is expected to start in early 2029, with the new vessel mainly sailing from the Tokyo International Cruise Terminal.
OLC said that the product will cater to families, younger generations and overseas travelers, with a series of two- to four-night cruises being offered.
Cruise fares are expected to fall within a range that runs from roughly $650 (100,000 yen) to nearly $2,000 (300,000 yen) per person on standard cabin categories.
Annual net sales are expected to reach approximately $635 million (100 billion yen) with over 400,000 passengers sailing within the first several years.
Profit is assumed to be generated from FY2029 when full-year operation is in plane, OLC stated, noting that the launch of a second ship will be considered when the first vessel is successfully operating.
Annual depreciation and amortization expenses are expected to be in the $127 million (20 billion yen) range. Operating margin is expected to improve further after the depreciation period of the ship, the company added.
OLC highlighted a series of advantages of entering the cruise industry, including creating a new pillar of revenue for its business, which currently relies on the operation of Disney-branded amusement parks in Japan.
The cruise industry is highly profitable, OLC added, and not subject to land constraints, taking advantage of a business model less susceptible to weather conditions.
The company said that the new venture also avoids the risks of concentrating all its business in the parks niche while leveraging international employment.
