Japanese automotive giant Toyota has announced it will end its top-tier sponsorship of the Olympics, a decision driven by concerns over the event's increasing political influence and its impact on athletes.
Chairman Akio Toyoda made this announcement during a podcast episode released on the company's YouTube channel, expressing doubts about whether the Olympics prioritize athletes as they should.
Toyota's sponsorship agreement with the International Olympic Committee (IOC), which began in 2015 and was set to last for ten years, will not be renewed following the conclusion of the Paris Games.
Toyoda stated, “I’ve wondered for a while now whether the event is truly putting athletes first... It is also becoming increasingly political,” highlighting his concerns about the shifting focus of the Games away from athletic competition to political agendas.
As part of this withdrawal, Toyota will phase out Olympic logos from its products and will no longer provide vehicles for Olympic-related activities. The company is also terminating its sponsorship of the Paralympics, as reported by public broadcaster NHK.
In his remarks to U.S. auto dealers, Toyoda emphasized that the essence of the Olympics should be about showcasing athletes from diverse backgrounds overcoming challenges.
He noted that recent developments have led him to question the alignment of Toyota's values with those of the Olympic movement.
Toyota’s decision follows a similar move by Panasonic, another Japanese corporation, which also announced it would not renew its long-standing sponsorship agreement with the IOC due to "management considerations."
Panasonic has been involved with the Olympics since 1987 and expanded its sponsorship to include the Paralympics in 2014. The company cited ongoing reviews of its sponsorship strategy as a reason for this decision.
