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NEWS
Merlin unveils US$315m plans for Legoland Japan
POSTED 30 Jun 2014 . BY Jak Phillips
A Lego driving school is expected to be one of the many fun-filled areas at Legoland Japan
Merlin Entertainments has today (30 June) unveiled plans for a high-profile development in the world’s second biggest theme park market, with the launch of its first Legoland in Japan.

The new park, to be located in the central city of Nagoya, will cost around ¥32bn (US$315m, €231m, £185m) in total and adds to UK-based Merlin’s existing portfolio of six Legoland parks in five countries.

First identified as a preferred site in late 2011, Legoland Japan will be opened in Q2 2017 under Merlin’s ‘operated and leased’ model, with the infrastructure being funded by a third party. Merlin will directly invest around ¥9.2bn (US$90m, €66m, £53m) in the park over the next three years and lease the balance of the assets from a company owned by KIRKBI Invest A/S (a subsidiary of investment and holding company KIRKBI A/S which has a 75 per cent ownership share in the Lego Group and a 29.9 per cent shareholding in Merlin).

KIRKBI’s investment, which is separate to that of Merlin’s, will be funded through a combination of equity and external debt provided by Sumitomo Mitsui Banking Corporation (SMBC). Merlin’s investment is expected to deliver returns consistent with the group’s stated pre-tax cash ROIC (Return on invested Capital) target of 20 per cent.

Merlin is looking to build on the success of its existing Legoland Discovery Centre in Tokyo. With the Japanese theme park market – the largest in Asia – valued at approximately US$6.8bn (€5bn, £4bn) and Lego brand awareness in the country already high, Merlin expects to attract a broad market, with a particular focus on young families.

Legoland Japan will be of similar scale to the recently opened Legoland parks in Malaysia and Florida and is expected to employ up to 1,000 staff. The Legoland Park Operating Group enjoyed 14.2 per cent revenue growth in 2013 – delivering over US$596 (€436m, £350m) in revenue with an EBITDA margin of 36 per cent – and Merlin sees the roll out of new Legoland parks as one of the key growth drivers of the business.

“The park will make a significant contribution to the growth of the Merlin group from opening in the second quarter of 2017, as well as supporting our continued geographic diversification,” said Merlin CEO Nick Varney.

“Long term, we continue to believe that there is significant opportunity for the Legoland brand, with the potential for up to 20 parks across the world and we remain committed to our target of opening a new park every two to three years.”
RELATED STORIES
  Merlin builds on Lego's popularity in Japan with announcement of Osaka Discovery Centre


Merlin Entertainments and Osaka Aquarium Kaiyukan in Japan have announced plans today (23 July) to open a new Legoland Discovery Centre in Tempozan Market Place Mall, Osaka.
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NEWS
Merlin unveils US$315m plans for Legoland Japan
POSTED 30 Jun 2014 . BY Jak Phillips
A Lego driving school is expected to be one of the many fun-filled areas at Legoland Japan
Merlin Entertainments has today (30 June) unveiled plans for a high-profile development in the world’s second biggest theme park market, with the launch of its first Legoland in Japan.

The new park, to be located in the central city of Nagoya, will cost around ¥32bn (US$315m, €231m, £185m) in total and adds to UK-based Merlin’s existing portfolio of six Legoland parks in five countries.

First identified as a preferred site in late 2011, Legoland Japan will be opened in Q2 2017 under Merlin’s ‘operated and leased’ model, with the infrastructure being funded by a third party. Merlin will directly invest around ¥9.2bn (US$90m, €66m, £53m) in the park over the next three years and lease the balance of the assets from a company owned by KIRKBI Invest A/S (a subsidiary of investment and holding company KIRKBI A/S which has a 75 per cent ownership share in the Lego Group and a 29.9 per cent shareholding in Merlin).

KIRKBI’s investment, which is separate to that of Merlin’s, will be funded through a combination of equity and external debt provided by Sumitomo Mitsui Banking Corporation (SMBC). Merlin’s investment is expected to deliver returns consistent with the group’s stated pre-tax cash ROIC (Return on invested Capital) target of 20 per cent.

Merlin is looking to build on the success of its existing Legoland Discovery Centre in Tokyo. With the Japanese theme park market – the largest in Asia – valued at approximately US$6.8bn (€5bn, £4bn) and Lego brand awareness in the country already high, Merlin expects to attract a broad market, with a particular focus on young families.

Legoland Japan will be of similar scale to the recently opened Legoland parks in Malaysia and Florida and is expected to employ up to 1,000 staff. The Legoland Park Operating Group enjoyed 14.2 per cent revenue growth in 2013 – delivering over US$596 (€436m, £350m) in revenue with an EBITDA margin of 36 per cent – and Merlin sees the roll out of new Legoland parks as one of the key growth drivers of the business.

“The park will make a significant contribution to the growth of the Merlin group from opening in the second quarter of 2017, as well as supporting our continued geographic diversification,” said Merlin CEO Nick Varney.

“Long term, we continue to believe that there is significant opportunity for the Legoland brand, with the potential for up to 20 parks across the world and we remain committed to our target of opening a new park every two to three years.”
RELATED STORIES
Merlin builds on Lego's popularity in Japan with announcement of Osaka Discovery Centre


Merlin Entertainments and Osaka Aquarium Kaiyukan in Japan have announced plans today (23 July) to open a new Legoland Discovery Centre in Tempozan Market Place Mall, Osaka.
MORE NEWS
Second Chaos Karts launches in Dubai
Live action video game experience Chaos Karts has launched in a 15,000sq ft arena in Al Quoz, Dubai.
Vietnam Van Gogh exhibition uses VIOSO-powered immersive installations
Twenty-five cameras, nine servers, 70 projectors and a range of AV technologies are being used to bring the art of Van Gogh to life in Ho Chi Minh City, Vietnam.
Use of cinematography techniques significantly increases engagement with VR
A study has found that the use of cinematic and video editing techniques can drastically increase the aesthetic appeal and user engagement of virtual reality environments.
Disneyland Paris renames theme park as part of $2 billion transformation
Disneyland Paris has unveiled a new name for Walt Disney Studios Park as part of the park’s US$2 billion transformation.
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Numbers from the Association of Leading Visitor Attractions, (ALVA) show that Royal attractions saw a huge increase in visitor numbers during 2023 – the coronation year of King Charles III.
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COMPANY PROFILES
Holovis

Holovis is a privately owned company established in 2004 by CEO Stuart Hetherington. [more...]
iPlayCO

iPlayCo was established in 1999. [more...]
Sally Corporation

Our services include: Dark ride design & build; Redevelopment of existing attractions; High-quality [more...]
Painting With Light

By combining lighting, video, scenic and architectural elements, sound and special effects we tell s [more...]
+ More profiles  
FEATURED SUPPLIER

CSI Design Expo Americas 2024 announces new Attractions & Entertainment Technology Zone
Cruise Ship Interiors (CSI) invites cruise lines, shipyards, design studios, outfitters, and suppliers to take part in CSI Design Expo Americas in Miami, Florida, the region’s only event dedicated to cruise ship interior design. [more...]
CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

18-22 May 2024

Eco Resort Network

The Ravenala Attitude Hotel, Mauritius
23-24 May 2024

European Health Prevention Day

Large Hall of the Chamber of Commerce (Erbprinzenpalais), Wiesbaden, Germany
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2024

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
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PRINT SUBSCRIPTIONS
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