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
More News:
- Japan ·
- U.S. ·
- Media ·
- Hedge Fund Summit
Rate this Page
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.