Coronavirus to close Tokyo Disneyland through mid-March
The company earlier this month warned of a negative impact on its second quarter results
Gerber Kawasaki CEO Ross Gerber and Mediatech Capital managing partner Porter Bibb discuss how coronavirus is negatively impacting Disney.
Tokyo Disneyland will be closed starting from Saturday through to March 15 due to concerns about coronavirus infections spreading in Japan, its operator said on Friday, leaving all of Walt Disney Co's theme parks in Asia temporarily shut.
Both Tokyo Disneyland and DisneySea will be closed after a government recommendation that big gatherings and events be curtailed for two weeks, park operator Oriental Land Co Ltd said.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The move also comes after Prime Minister Shinzo Abe called for all schools to close to stop the coronavirus spreading.
Japan's Prime Minister Shinzo Abe, center, speaks during a meeting of a task force on the new coronavirus at his official residence in Tokyo Thursday, Feb. 27, 2020. Abe was asking all elementary, middle and high schools to remain shut until spring h …
"We plan to reopen on March 16, but we will make an announcement after keeping close contact with relevant institutions," Oriental Land said on its website.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| DIS | THE WALT DISNEY CO. | 109.12 | +6.45 | +6.28% |
It said it would inform ticket holders of policies on refunds.
Disney's Shanghai and Hong Kong theme parks remain closed for more than a month, and the company earlier this month warned of a negative impact on its second quarter results.
CLICK HERE TO READ MORE ON FOX BUSINESS
It said on an earnings call on Feb. 5 that closure of the Shanghai park could impact operating profit by about $135 million if closed for 2 months