Panasonic Wants To Extend Olympics Sponsorship To Include 2020 Tokyo Games
Panasonic "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 1987, providing cameras used to relay the action to sports fans around the world and big screens at events." However, "its Olympic sponsorship agreement expires in 2016 when Rio stages the Games and the company is having to reshape its business" after losing $15B over the past two years. Panasonic CEO Kazuhiro Tsuga said, "If we could expand that contract, we would be happy" (REUTERS, 9/10).