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Tokyo Disney Operator to Spend $2.3 Billion in Resort Expansion

Lisa Du, Maiko Takahashi
Visitors sit under umbrellas in front of the Cinderella Castle at Tokyo Disneyland, operated by Oriental Land Co., in Urayasu, Chiba Prefecture, Japan, on Tuesday, July 12, 2016. Oriental Land expects overseas visitors to more than double by 2020 to around 4 million as Walt Disney Co.’s first resort outside the U.S. rides on publicity generated by Shanghai’s new theme park and a government plan to draw more tourists to Japan.

The operator of Tokyo Disneyland is investing 250 billion yen ($2.3 billion) to expand the Japanese resort as Walt Disney Co. continues to upgrade its theme parks in Asia.

Oriental Land Co., which is licensed to operate the Tokyo resort, will expand the Disneyland and DisneySea parks to include new attraction areas featuring characters from movies such as “Frozen,” according to a statement Thursday. The new areas are set to open by mid-2022, and Oriental Land said it extended its license with Disney for an additional 30 years, to 2076.

Tokyo Disneyland opened in April 1983, becoming the first Disney park built outside the U.S., while the adjoining DisneySea opened 18 years later. Disney is continuing to expand its parks in Asia. Earlier this year, it opened the first expansion, Toy Story Land, to its two-year-old Shanghai resort, and is in the middle of a $1.4 billion upgrade of its Hong Kong resort, which will include “Frozen” and Marvel-themed lands.

Read Tokyo Disney Operator to Spend $2.3 Billion in Resort Expansion on bloomberg.com