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SBD Global/April 2, 2013/Olympics

Tokyo 2020 CEO Says Private Funding For Bid At 70%, Committee Looks For More Sponsors

Tokyo 2020 CEO Masato Mizuno has "revised his previous assessment of private funding for the city's budget" upward to about 70%, after stating last week that less than half of the 3.8B yen ($40 M) had been procured, according to KYODO. Tokyo's bid is expected to cost 7.5B yen ($80M), with 3.8B yen "anticipated to be raised through private funding." The metropolitan government plans to foot the remaining 3.7B yen. The committee "is looking at other ways of raising money, like increasing the number of sponsorships" (KYODO, 4/1). Tokyo 2020 announced on Monday that Japanese fashion retail chain AOKI Holdings has become Tokyo's latest Official Bid Partner, bringing the list of corporate partners to 18. Fashion designer Junko Shimada and AOKI's tie-up brand JUNKO SHIMADA JS homme will produce Tokyo 2020's official uniforms for future presentations, including the Host City Election of the 2020 Olympic and Paralympic Games in Buenos Aires on Sept. 7 (TOKYO 2020, 4/1).

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