Oriental Land Company Secures ¥200 Billion Line of Credit to Support Extended Tokyo Disney Resort Closure
In an effort to support the Tokyo Disney Resort during its extended closure, however long it may last, the Oriental Land Company secured a ¥200 billion, or about $1.858 billion, line of credit through Japanese megabank Mizuho this month.
According to NHK(in Japanese), Oriental Land signed a contract with Mizuho Bank on May 15th to secure the massive credit line as the extended closure drags on into its third month. While fiscal year 2019 results in March showed that OLC has about ¥260 billion, or $2.415 billion, in cash on hand, the aim is reportedly to secure against the prolonged impact this closure will have on OLC’s business.
Oriental Land is currently providing a leave allowance to its nearly 20,000 part-time Cast Members through at least the end of May. 5400 full time employees will also receive payment from May 18th for regular work minus four holiday days per month.
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