Without Japanese sponsors

Three major global companies have severed ties with the International Olympic Committee (IOC)

Before the Tokyo Olympics, representatives from Toyota, the Japanese NOC,and IOC President Thomas Bach showed alignment. However, a series of scandals surrounding the Games — including the corruption scandal of the 2020 Olympics and political issues during the 2024 Olympics — compelled partners to part ways.

Firstly, tech giant Panasonic announced the termination of its sponsorship with the IOC, and now Toyota Motor Corporation and tyre manufacturer Bridgestone have followed suit. All three Japanese companies were among the top sponsors of the Olympic movement.
Akio Toyoda, president of Toyota, was particularly outspoken about the issue during a meeting with US dealerships, “We have decided not to extend our sponsorship with the IOC after Paris because, honestly, I am not sure they [IOC] are truly focused on putting athletes first.” He expressed concern that the Olympics are ‘losing their essence’, deviating from what he believes should be their primary purpose — dedication to the sport and the inspiring stories of the athletes. “The Olympics are becoming increasingly political,” Toyoda added. This remark not only captures the essence of his criticism but also highlights the fact that the world’s largest sporting event, once solely competitive in nature, has turned into a platform for political manoeuvring and selfish interests.
The sponsorship deal worth $835m, initially deemed perfect, was signed back in 2015, when Toyota entered into a 10-year agreement with the IOC, cementing its role as one of the main financial sponsors of the Olympics. However, rumours of a potential split had been circulating since May, and as is clear today, they were certainly not unfounded.
Tyre manufacturer Bridgestone has also announced that it will not extend its agreement with the IOC after the 2024 Summer Olympics in Paris. “The decision comes after an evaluation of the company’s evolving corporate brand strategy and its recommitment to more endemic global motorsports platforms,” stated the Japanese firm. Bridgestone was a sponsor of the Olympic Games since 2014. The financial terms of the agreement were not disclosed; however, according to Japanese media, the amount of sponsorship fees paid by Bridgestone was $35m annually.
Previously, Panasonic ceased its sponsorship of the Olympic Games. The company did not explain why it chose to end its co-operation with the IOC, but stated that it was related to ‘continual reviews of how sponsorship should evolve’. The Panasonic Group first became an official worldwide partner of the Olympics in 1987, supporting the Games with its technologies, products, and services.
According to JapanToday, following the departures of Toyota, Bridgestone, and Panasonic — that were among the 15 companies that had signed a premium partnership agreement with the IOC under the TOP (The Olympic Partner) programme, which represented the highest category of sponsorship — the IOC has been left without Japanese sponsors. This appears to be more than a mere coincidence.

FOR REFERENCE

The IOC’s income for the last four-year cycle, ending with the Tokyo Games, amounted to $7.6bn. The IOC’s major sponsors paid more than $2bn during that period. Data for the cycle concluding with the Paris Olympics is not yet available.

By Kirill Knyazev