Panasonic Ends Sponsorship Contract with IOC

The move comes amid diminishing Japanese corporate support and previous delays and scandals from the Tokyo Olympics.

Panasonic will terminate its contract with the International Olympic Committee at the end of the year.
Toyota, another major Japanese sponsor, has yet to announce its decision despite prior reports of dissatisfaction.
COVID-19 delays and corruption scandals have reduced the appeal of Olympic sponsorship for Japanese companies.
The IOC's income from TOP sponsors was over $2 billion in the last four-year cycle, with expectations to reach $3 billion in the next.
Japanese sponsors have been increasingly replaced by those from China, the Middle East, and India.