Hello Kitty Stock Soars 93% as Tokyo Heat Sends Tourists Indoors
- Oriental Land’s shares have fallen 25% as profit declines
- Indoor amusement parks have seen an increase in visitors
Heat waves and heavy rain wreck the pleasure of outdoor amusement parks.
That simple fact has hammered the shares of Oriental Land Co., which operates Tokyo Disney Resort. Sweltering temperatures this summer coupled with increasing bouts of torrential rains have kept visitors away from the parks and as a result the company’s stock has plunged 25% this year, the seventh-worst performer on the Nikkei 225.