Despite Ending Sponsorship of International Olympic Committee, Toyota to Continue “direct support to athletes and equipment for sports for the disabled”

Extract from The Asahi

October 1 2024

TOKYO – Toyota has served as a highest-ranking sponsor under a 10-year contract starting in 2015. The company has provided vehicles for officials and athletes at five Summer and Winter Games during that period. According to officials, Toyota has paid approximately 200 billion yen ($1.4 billion) to the IOC.

Akio Toyoda, chairman of Toyota, said in the company-owned media channel on Sept. 26 that the reason for not continuing the sponsorship agreement was that it “did not lead to support for the athletes.”

Toyoda said that he had always doubts about the IOC’s “one company per industry” sponsorship rule because he believes that each manufacturer in the auto industry “carries the backbone of the country.”

He revealed that Toyota had to make difficult adjustments with the local car manufacturer in the host city for each Olympic event.

Toyoda also pointed out problems with holding the Games in the mid-summer and events late at night with Western TV viewers in mind. He also mentioned that the Games have become more politically charged.

“I always wondered if they were good for the athletes,” he said.

The automaker intends to continue providing direct support to athletes and equipment for sports for the disabled even after the sponsorship agreement ends, Toyoda said.

Toyota has supported more than 250 athletes around the world and sent 179 athletes to the recent 2024 Paris Olympics and Paralympics.