Panasonic President Wants To Extend Company's IOC Deal Through '20 Tokyo Games

Panasonic President Kazuhiro Tsuga yesterday said that the Japan-based company "would like to extend its long-running Olympic sponsorship to take it up to 2020 when Tokyo will host the Games," according to Klaus Lauer of REUTERS. Panasonic has been a sponsor of the Games since '87, "providing cameras used to relay the action to sports fans around the world and big screens at events." However, its Olympic sponsorship agreement expires after the '16 Rio Games and the company is "having to reshape its business" after losing $15B over the past two years. Tsuga said, "If we could expand that contract, we would be happy" (REUTERS, 9/10).