The Tokyo Disney Resort, which includes Tokyo Disneyland and Tokyo DisneySea, is the only Disney-branded theme park resort that is not owned by The Walt Disney Company. Instead, it is owned and operated by the Oriental Land Company (OLC), a Japanese leisure and hospitality corporation. OLC pays The Walt Disney Company royalty fees for the use of its characters, names, and concepts, and Disney provides the creative design through its Imagineering division. This unique arrangement began in the late 1970s when Disney was hesitant to invest its own capital in an international venture. Interestingly, because OLC has its own massive budget and high standards for maintenance and service, many fans consider the Tokyo parks to be the best-maintained and most "perfect" Disney experiences in the world. While Disney owns a majority or significant stake in its other international parks—such as Disneyland Paris, Hong Kong Disneyland, and Shanghai Disney Resort—the Tokyo resort remains a wholly independent entity operating under a very successful licensing agreement.