Tokyo Olympics Biggest Sponsor Toyota Bail For 11th Hour; Pulling Ads, Not Attending Opening Ceremony – Real Pundit

The largest sponsor of the Tokyo Olympics, Toyota, bail of full activity because the games themselves have attracted widespread scrutiny throughout Japan, according to The Daily Yomiuri, quoted a senior company executive as confirmed by Reuters.

We will not air any commercials related to the Games in Japan, ”Toyota CEO Akio Toyoda added that he will not be attending the opening ceremony, and confirmed that its advertising campaign in Japan has been taken down.

Toyota isn’t the first developer to pull the strings, but they are the most numerous. Earlier this month we noticed that many Olympic promoters – hoping to profit their sponsor by handing out food, drink and supplies to spectators at live events – were out of the event.

More than a dozen companies, including Canon, Tokio Marine and Nicido Fire Insurance and Ajinomoto, have bailed the event in a decision which “shows the dangerous situation for sponsors tying themselves to a Game that hit by the COVID-19 pandemic and public opposition. ”

In general, more than 60 corporate sponsors paid a record more than $ 3 billion for sponsorship rights, with another $ 200 million to spend to expand their contracts after the games.READ MORE

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