Amid the Covid-19, the Tokyo games are facing many challenges ahead of the games, starts on Friday. Top sponsorship brand of Tokyo 2020, Toyota has pulled its TV ads related sponsorship from the games due to the high possibility of spread of Covid-19 virus in the upcoming games. Jun Nagata, Toyota Chief communication officer has told that the Olympic games are having many issues which are difficult to understand.
Toyota being the top automobile brand of the country has signed a deal of sponsorship in 2015 with IOC of worth $1 billion, for 8 years.
Despite this, Toyota is still supporting the athletes in the games. About 200 athletes worldwide are affiliated with Toyota Motor copr. and Toyota is still supporting the athletes in the games.
Masa Takaya, spokesperson of Tokyo 2020 said that public have mixed sentiments for the games. He also pointed that the there are supportive sponsors who wants to make the games happen.
Being a sponsor of the Olympics can be a big opportunity to enhance the company brand but due to the upcoming pandemic situation possibility, Toyota is afraid to lose its market goodwill.