USJ Co, . Ltd (Tokyo Stock Exchange Mothers 2142) today announced financial results for the first six months of the fiscal year ending March 31, 2009 (FY2008).
Sales for the six-month period ended September 30, 2008, was ¥34, 326 million (a decline of 7.7% from the same period of the previous year, FY2007), Operating Income was ¥4, 080 million (a decline of 20.6%), Ordinary Income was ¥4, 171 million (a decline of 11.2%), and Net Income was ¥4, 128 million (a decline of 11.9%).
On May 9, 2008, the Company announced a forecast of its FY2008 financial results which reflected declines in the first six months of the fiscal year versus the same period of the prior year. In establishing the forecast, the Company considered several factors including the favourable attendance impact enjoyed in March, 2007, and the unfavourable impact of the shorter and fragmented Golden Week holidays this year compared to the prior year. The Company’s results were challenged by these and other factors with attendance in the first quarter down 8.7% versus the same period of the prior year. The Company saw some improvement in the second quarter with attendance down 1.3% versus the same period of the prior year despite the challenging macroeconomic environment and inclement weather conditions. As a result, the Company failed to meet its Sales and Operation Income forecasts, however, exceeded its Ordinary Income and Net Income forecasts for the six-month period ended September 30, 2008. The attendance in the six-month period was 3, 889 million, down 4.7% from the same period of the previous year.
In the second half of the fiscal year, the Company hopes to capitalize on the success of Universal Wonder Halloween and a new and enhanced Christmas event Universal Wonder Christmas. In March 2009, the Company plans to launch its first night-time parade. The night-time parade is intended not only to increase attendance but also to increase spending in the park as a result of sales of newly developed parade-related items and growth of food sales from visitors staying in the park longer than before.
As announced on May 9, 2008, The Company will pay ¥1, 400 per share as interim dividend, and intends to pay ¥1, 400 per share as year-end dividend. Total dividend per share for the fiscal year ending in March 2009 is planned to be ¥2, 800.
The Company is currently maintaining its forecast for the fiscal year ending March 31, 2009. (Please refer to the Financial Results in the Company’s IR site for more details ir.usj.co.jp/en/Top.html).