Oriental Land scraps plan for new Disney facility

TOKYO Tue Oct 7, 2008 4:48am EDT

TOKYO Oct 7 (Reuters) - Tokyo Disney Resort operator Oriental Land Co Ltd (4661.T) said on Tuesday it had scrapped a plan for a new Disney-theme entertainment complex in a major city in Japan, citing the poor prospects of the project's investment returns.

The firm said it would continue to explore possibilities for a new business, which might not involve Disney characters.

The company and Walt Disney Co (DIS.N) have spent more than a year studying a plan to build an urban-style amusement facility in 2010 or later, but they decided that the estimated investment return would not justify the project, it said. (Reporting by Taiga Uranaka)