Photo/Illutration An artist’s rendition of a Disney-themed cruise liner (Provided by Oriental Land Co.)

Learning from past failures, Tokyo Disney Resort operator Oriental Land Co. is testing new waters with plans to go into the cruise line business.

Its newly appointed president, Wataru Takahashi, was upbeat about the venture during his first media interview since he took over on April 1.

Although Oriental Land has a history of failed ventures, Takahashi said the cruise line business scheduled to start in 2028 offered ample room for expansion in the years ahead.

ACCUMULATED EXPERTISE, NO NEED FOR LAND

Oriental Land will commission a dedicated liner with the capacity to carry 4,000 passengers for two- to four-night cruises featuring musicals with Disney characters as well as other attractions.

The company last summer projected that at least 330 billion yen ($2.27 billion) would be sunk into the project.

“Seeing as there are no land restrictions, there is stable room for expansion,” Takahashi said.

Oriental Land views the initiative as an eventual third pillar alongside its mainstay amusement park and hotel businesses.

Oriental Land’s efforts to develop cash cow enterprises have repeatedly fallen flat in the past.

In 2000, Oriental Land ventured into the restaurant industry with the opening of the iconic Ikspiari commercial complex in front of JR Maihama Station, the nearest transit hub to Tokyo Disney Resort.

However, it sold off its eatery department in 2018 in the face of fierce competition from other chain operators.

The theme park operator also tried promoting businesses based on non-Disney characters, managing Disney Stores outside the Tokyo Disney Resort and running a clock shop. But it has since quit those endeavors.

Takahashi is mindful of those past failures.

“We have learned the importance of closely examining business structures and the significant role played by economies of scale at the same time,” he said.

Takahashi was optimistic about the new venture, saying the cruise line business will be a success because it will be “a fusion of a theme park and a Disney hotel.”

Takahashi emphasized that the leisure ship business offered the chance to capitalize on “Disney’s assets” and extensive in-house expertise built up over many years.

He also referred to plans to offer packaged tours that combine a cruise and a visit to Tokyo Disney Resort at some point.

“I am determined to forge ahead with” entrepreneurial ventures as head of Oriental Land, Takahashi said, calling it his passion. “I will make every effort in my quest to get the business back on track.”