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Tokyo 2020 Ups Sponsor Total to Even Dozen

(ATR) Two new gold partners will handle banking for Tokyo 2020.

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(ATR) Two new gold partners will handle banking for Tokyo 2020.

Two domestic banks, Mizuho Financial Group and Sumitomo Mitsui Financial Group, are the 11th and 12th gold partners for the Tokyo 2020 Games.

"Both these companies are leading Japanese megabanks, and their addition to the Tokyo 2020 sponsorship program will enable us to fully realize the message we have been conveying of an ‘All-Japan’ team working as one," Yoshiro Mori, president of Tokyo 2020, said in a statement.

"We look forward to staff of both these financial institutions located across the length and breadth of Japan lending their active support towards building momentum in the lead up to the 2020 Games."

On Mar. 25, Tokyo 2020 told Around the Rings that more than 12 Gold Partners would diminish exclusivity of tier one sponsors. Since then, Tokyo has added three domestic sponsors in two categories, sporting goods and banking.

"We will provide financial-related support and expertise to Olympic and Paralympic Games-related business and contribute to society and the success of the Games through our nationwide network of branches and offices," Yasuhiro Sato, president and group CEO of Mizuho, said in a statement.

Tokyo 2020 set a goal of raising $1.3 billion from domestic sponsors, a number in line with what IOC Coordination Commission chair John Coates told ATR.

"Tokyo could raise $1.5 billion in sponsorships," Coates said to ATR during the IOC Executive Board meeting in Rio de Janeiro on Feb. 28.

"You don’t get the impression that it’s an economy that’s got problems. The slow-down and all of those things doesn’t seem to display themselves when it comes to looking for broadcast rights or sponsorships."

Mizuho Financial Group and Sumitomo Mitsui Financial Group join Asahi, ASICS, Canon, Eneos, Fujitsu, JX Nippon Oil & Energy, NEC, Nippon Life Insurance, Nippon Telegraph and Telephone Corp, and Tokio Marine & Nichido as the domestic partners for the Tokyo 2020 Games.

Written by Aaron Bauer

20 Years at #1: Your best source of news about the Olympics is AroundTheRings.com, for subscribers only.

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