Universal Studios Japan to spend up to $1.88 billion on expansion, Nikkei reports
General view shows Yoshi's Adventure attraction inside Super Nintendo World, a new attraction area featuring the popular video game character Mario which is set to open to public on March 18, during a press preview at the Universal Studios Japan theme park in Osaka, western Japan, March 17, 2021. Picture taken March 17, 2021. REUTERS/Irene Wang
Aug 28 : Universal Studios Japan is preparing to undertake a major expansion, with investment expected to total between 200 billion yen and 300 billion yen ($1.26 billion-$1.88 billion), the Nikkei newspaper reported on Friday.
Universal Japan plans to use a 60,000 square meter site adjacent to the theme park to build new attractions, marking the first time the venue has grown its footprint since it opened in 2001, the report said.
The company aims to boost its annual attendance above the current 16 million visitors, already the highest among the country's theme parks, as more overseas tourists visit Japan, Nikkei said.
Nikkei added that Universal Japan will extend its grounds on to a former Nippon Steel factory site north of its current property, with the park's operator expected to sign a lease agreement with the Osaka municipal government around 2028 for the portion of the site owned by the city.
A spokesperson for Universal Destinations & Experiences told Reuters that the company has not confirmed expansion plans for Universal Studios Japan.
($1 = 159.2600 yen)
