The Tokyo Disney Resort in Japan will close for two weeks starting Saturday as a precaution to prevent the spread of the coronavirus according to a report on Bloomberg News and referring to Oriental Land Co. said.
Shares in Oriental Land fell as much as 4.6% after the company said on Friday that Tokyo Disneyland and Tokyo DisneySea will not accept visitors from Feb. 29 to March 15. Oriental Land is licensed by Walt Disney Co. to operate the entertainment complex.
The measure is expected to impact Oriental Land’s earnings, a spokeswoman for the company said, adding that more details will be shared when results are announced. The operator usually reports quarterly figures in late April.
Oriental Land, which made the decision based on the government’s request to avoid large-scale cultural and sporting events, said it is planning to open on March 16, although that date is subject to change. Shares in the theme park operator gave up gains and fell after the market’s midday pause, when the announcement was made. The stock was down 18% this year through Thursday on concerns that the coronavirus outbreak would cut the flow of tourists to Japan.
The last time the Tokyo Disney Report closed for an extended period was in March 2011, following the earthquake and tsunami that struck the northern part of Japan’s main island of Honshu. At the time, Tokyo Disneyland shut down for 34 days, while Tokyo DisneySea was shuttered for 47 days, according to the spokeswoman.