Top Olympic sponsor Panasonic is ending its contract with the IOC

Associated Press Finance09-10

TOKYO (AP) — Olympic sponsor Panasonic is terminating its contract with the IOC at the end of the year, the company said in a statement Tuesday. Panasonic is one of 15 companies that are so-called TOP...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2466102210?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/eRlkv4Y42A5vJumiD8avvw--~B/aD0zMzMzO3c9NTAwMDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/ap_finance_articles_694/128256d1ee4b2cdc1c8cb440c5dc7c58","is_english":true,"pubTime":"2024-09-10 14:27","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2466102210","market":"us","top_or_hot":-1,"title":"Top Olympic sponsor Panasonic is ending its contract with the IOC","media":"Associated Press Finance","content":"<div>\n<p>TOKYO (AP) — Olympic sponsor Panasonic is terminating its contract with the IOC at the end of the year, the company said in a statement Tuesday.\nPanasonic is one of 15 companies that are so-called TOP...</p>\n\n<a href=\"https://finance.yahoo.com/news/top-olympic-sponsor-panasonic-ending-062751462.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Top Olympic sponsor Panasonic is ending its contract with the IOC</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTop Olympic sponsor Panasonic is ending its contract with the IOC\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-10 14:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/top-olympic-sponsor-panasonic-ending-062751462.html><strong>Associated Press Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>TOKYO (AP) — Olympic sponsor Panasonic is terminating its contract with the IOC at the end of the year, the company said in a statement Tuesday.\nPanasonic is one of 15 companies that are so-called TOP...</p>\n\n<a href=\"https://finance.yahoo.com/news/top-olympic-sponsor-panasonic-ending-062751462.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票定投概念","start_time":0,"source_url":"https://finance.yahoo.com/news/top-olympic-sponsor-panasonic-ending-062751462.html","article_id":"2466102210","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/eRlkv4Y42A5vJumiD8avvw--~B/aD0zMzMzO3c9NTAwMDthcHBpZD15dGFjaHlvbg--/https://media.zenfs.com/en/ap_finance_articles_694/128256d1ee4b2cdc1c8cb440c5dc7c58"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2466102210","pubTimestamp":1725949671,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"TOKYO  — Olympic sponsor Panasonic is terminating its contract with the IOC at the end of the year, the company said in a statement Tuesday.Panasonic is one of 15 companies that are so-called TOP sponsors for the International Olympic Committee. It's not known the value of the Panasonic sponsorship, but sponsors contribute more than $2 billion in a four-year cycle to the IOC.In a statement, Panasonic said it became an IOC sponsor in 1987 and expanded to the Paralympics in 2014. It did not make clear why it was changing course and said only that is was related to continual “reviews how sponsorship should evolve.”“Toyota has been supporting the Olympic and Paralympic movements since 2015 and continues to do so,” Toyota said in a statement. “No announcement to suggest otherwise has been made by Toyota.\". French prosecutors also looked into alleged vote-buying in the IOC’s decision in 2013 to pick Tokyo as the host for the 2020 Summer Games.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4585":"ETF&股票定投概念","BK4006":"钢铁","PCRFY":"松下","BK4555":"新能源车","BK4588":"碎股","BK4078":"消费电子产品","BK4099":"汽车制造商","AP":"安博科-匹兹堡","TM":"丰田汽车","03160":"华夏日股对冲"},"translate_title":"顶级奥运赞助商松下将终止与国际奥委会的合同","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AP":1,"PCRFY":1,"TM":0.9,"03160":0.6},"content_text":"TOKYO (AP) — Olympic sponsor Panasonic is terminating its contract with the IOC at the end of the year, the company said in a statement Tuesday.\nPanasonic is one of 15 companies that are so-called TOP sponsors for the International Olympic Committee. It's not known the value of the Panasonic sponsorship, but sponsors contribute more than $2 billion in a four-year cycle to the IOC.\nIn a statement, Panasonic said it became an IOC sponsor in 1987 and expanded to the Paralympics in 2014. It did not make clear why it was changing course and said only that is was related to continual “reviews how sponsorship should evolve.”\nTwo other Japanese companies are also among the IOC's 15 leading sponsors. Toyota, which for several months has been reportedly ready to end its contract, was contacted Tuesday by The Associated Press but offered no new information.\n“Toyota has been supporting the Olympic and Paralympic movements since 2015 and continues to do so,” Toyota said in a statement. “No announcement to suggest otherwise has been made by Toyota.\"\nJapanese sponsors seem to have turned away from the Olympics, likely related to the one-year delay in holding the 2020 Tokyo Olympics. The COVID-19 delay reduced sponsors' visibility with no fans allowed to attend competition venues, ran up the costs, and unearthed myriad corruption scandals around the Games.\nTiremaker Bridgestone told AP “nothing has been decided.”\nToyota had a contact valued at $835 million — reported to be the IOC's largest when it was announced in 2015. It included four Olympics beginning with the Pyeongchang 2018 Winter Games in South Korea and ran through the just-completed Paris Olympics and Paralympics.\nReports in Japan suggest Toyota may keep its Paralympic Olympic sponsorship.\nThe IOC TOP sponsors are: ABInBev, Airbnb, Alibaba, Allianz, Atos, Bridgestone, Coca-Cola, Deloitte, Intel, Omega, Panasonic, P&G, Samsung, Toyoto, and Visa.\nIn a report several months ago by the Japanese news agency Kyodo, unnamed sources said Toyota was unhappy with how the IOC uses sponsorship money. It said the money was “not used effectively to support athletes and promote sports.”\nJapan was once a major font to revenue, but increasingly the IOC has sought out sponsors from China, with increasing interest from the Middle East and India.\nJapan officially spent $13 billion on the Tokyo Olympics, at least half of which was public money. A government audit suggested the real cost was twice that. The IOC contribution was about $1.8 billion.\nThe Tokyo Games were mired in corruption scandals linked to local sponsorships and the awarding of contracts. Dentsu Inc, the huge Japanese marketing and public relations company, was the marketing arm of the Tokyo Olympics and raised a record-$3.3 billion in local sponsorship money. This is separate from TOP sponsors.\nFrench prosecutors also looked into alleged vote-buying in the IOC’s decision in 2013 to pick Tokyo as the host for the 2020 Summer Games.\nThe IOC had income of $7.6 billion in the last four-year cycle ending with the Tokyo Games. Figures have not been released yet for the cycle ending with the Paris Olympics.\nThe IOC’s TOP sponsors paid over $2 billion in that period. The figure is expected to reach $3 billion in the next cycle.\n___\nAP Olympics: https://apnews.com/hub/2024-paris-olympic-games","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2466102210"}