Walt Disney Co. said it has received...

Walt Disney Co. said it has received $700 million that represents its anticipated royalties from Tokyo Disneyland over the next 20 years, as a result of a transaction arranged by Citicorp Investment Bank and the Long-Term Credit Bank of Japan. Disney negotiated the deal in order to lock in a yen-dollar exchange rate the company considers favorable, explained Neil McCarthy, vice president of planning and control. Burbank-based Disney said the funds will be available for general corporate purposes. McCarthy noted that if royalties exceed the projected sum, Disney is still entitled to receive the surplus under the terms of the bank arrangement.