Japanese electronics and appliance manufacturer Panasonic has announced it will no longer sponsor the Olympic Games after the 2024 Paris Olympics, according to a report from Reuters.
The company explained that this decision is part of a continual reassessment of its sponsorship relationships, made after consultations with the International Olympic Committee (IOC).
Notably, Panasonic has been an Olympic sponsor since 1987. Alongside Panasonic, Japanese automotive company Toyota Motor Corporation will also withdraw as a sponsor. Currently, there are 13 leading sponsors for the Games. After the exits of Panasonic and Toyota Motor, Bridgestone, a tire manufacturer, will remain as the last Japanese representative among the Olympic sponsors.