Disney Temporarily Closes Its Tokyo Operations Following Quake, Tsunami

Walt Disney Co. (DIS) suspended all administrative and store operations in Tokyo in the aftermath of the March 11 earthquake and tsunami in Japan.

“Our top priority is the well-being of our employees and their families during this challenging time and we will continue to closely monitor the situation as it develops,” the Burbank, California-based company said today in a statement.

Tokyo Electric Power Co. has scheduled blackouts in the city to conserve energy. Subway lines are running fewer trains, shops are closing early and offices are shutting off non- essential electricity as the country copes with the disaster. The blackouts are compounding the economic fallout from last week’s magnitude-9 earthquake and tsunami.

Disney gained 16 cents to $40.76 at 4:15 p.m. in New York Stock Exchange composite trading. The stock has advanced 8.7 percent this year.

To contact the reporter on this story: Rob Golum in Los Angeles at rgolum@bloomberg.net

To contact the editor responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net

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