Tokyo Disney Resort operator Oriental Land Co. will likely post a consolidated net loss of 51.1 billion yen for the year ending next March, according to the company.
The theme park operator logged a profit of 6.22 billion yen in the previous year.
Oriental Land has not reported a full-year consolidated net loss since it listed on the Tokyo Stock Exchange in 1996.
The company has been severely affected by the temporary closure of Tokyo Disneyland and Tokyo DisneySea due to the novel coronavirus pandemic. Consolidated sales are expected to fall 60.1% from the previous year to 185.4 billion yen, according to the company.
The Disney parks temporarily closed for about four months from the end of February due to the virus outbreak.
Since the parks reopened in July, the company has limited the number of visitors to less than half pre-pandemic levels. The number of visitors this fiscal year is expected to be about 9.5 million -- a third of the previous year's figure.
In the April-September period, the firm's consolidated sales decreased 76.2% to 59.1 billion yen from the same period last year. It announced a net loss of 30 billion yen, compared to a 43 billion yen net profit in the same period of the previous year.
To improve its business performance, the company will consider introducing a dynamic pricing system, in which ticket prices fluctuate depending on crowd conditions, and charging extra fees for its Fast Pass, which gives pass holders priority entry to popular attractions.
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