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Welcome to Warner Mycal.
In my message last year my opening remark made reference to how strong 2010 had been. In the early part of 2011 we learned that the attendance total from 174 million tickets had been sold. This was the most tickets sold since 1983.
Last year our company has been challenged with the most dramatic events in Warner Mycal’s 20 year history. A very strong 9.0 earthquake followed by a major Tsunami followed by concerns of a radioactive accident at the Fukushima Power Plant and damage to 26 theatres with continued aftershocks. As the year progressed we were faced with a 15% power reduction demand plus a film product line up that did not perform to levels that were expected. As a result the national box office attendance has dropped approx.20% to end at about 145 million admission. What a significant change from 2010.
The Warner Mycal team overcame all the challenges that we were presented and worked diligently to assist all families that were effected by the events of 2011. The Warner Mycal team adjusted and re-adjusted and then re-adjusted again. We stayed focused so that Warner Mycal could carry out its social responsibility to our customers to make sure they had a place they could sit relax and enjoy the movie. Sort of an escape from the issues the county were facing on a daily basis.
After these major unforeseen events, Warner Mycal has adjusted the rollout of Digital so that we can expect the circuit to be 100% Digital by Mid 2012. We have completed the introduction of 3D equipment and are well positioned to take advantage of the future film line up in 3D, both Japanese films and foreign films, for this year. We will see much more Alternate Content as we have now invested in the technical infrastructure to receive live broadcast both in 2D and 3D. We believe you will find new value in our theatre by Alternate Content.
I do hope you will continue to choose Warner Mycal Cinemas when going to a movie in you area. It is very important that we know that you, our customer, is able to relax in our cinemas and enjoy the film. 2011 has been a difficult year for Japan and it is our job to try and help create the atmosphere to enjoy and bring comfort to your movie experience.
Thank you.
Millard L. Ochs
President and Representative Director
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