Toyota, Panasonic, Bridgestone End Olympic Sponsorships

Three major Japanese companies—Toyota, Panasonic, and Bridgestone—are terminating their top-tier sponsorship contracts with the International Olympic Committee (IOC), marking a significant shift in Olympic sponsorship dynamics. Toyota's chairman, Akio Toyoda, expressed concerns over the IOC's political influence, stating that the organization is not prioritizing athletes as it should. The decision follows a trend of Japanese sponsors distancing themselves from the Olympics, likely influenced by the negative fallout from the postponed 2020 Tokyo Olympics, which diminished visibility and revealed corruption issues. With these exits, the IOC will lack Japanese sponsorship for the first time, shifting its focus towards potential new sponsors in the Middle East and India. Despite ending its sponsorship, Toyota has pledged continued financial support for individual Olympic and Paralympic athletes and events. The total value of Toyota's sponsorship was reported at $835 million, the largest among IOC's sponsors at the time it was signed in 2015.