New partners add to Tokyo 2020 bid’s financial muscle

http://www.japantoday.com/category/sports/view/new-partners-add-to-tokyo-2020-bids-financial-muscle

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TOKYO —
Tokyo 2020 announced Friday that five more official bid partners have signed up following the international campaign launch on Jan 10, bringing the current total of corporate partners to 16.

The five new partners are Marudai Food Co, one of Japan’s largest food manufacturers, EH Inc, a private-label manufacturer, MARUHAN Corp, an amusement facilities operator, TOPTOUR Corp, a well-known travel agency, and Daiwa House Industry Co, Japans’ largest homebuilder.

Tsunekazu Takeda, IOC member and president of both the JOC and Tokyo 2020, said: “I am delighted to introduce Marudai Food, EH, MARUHAN, TOPTOUR and Daiwa House Industry as our latest bid partners. It is clear that our bid enjoys widespread support in the Japanese business community. Tokyo has a large, stable and sustainable economy, and the bid has a dedicated Games reserve fund of $4.5 billion. Our budget is fully guaranteed and our financial superiority is unmatched.”

The Tokyo 2020 Bid Committee has received backing from the Japanese business community, including formal resolutions of support passed by the Tokyo Chamber of Commerce and Industry representing over 76,000 companies and the Japan Chamber of Commerce and Industry representing over 1.29 million firms in some 514 branches. As revealed in its Candidature File, Tokyo 2020 estimates that its city will attract sponsorship totalling more than $930 million through its local sponsorship and official suppliers.

Japan’s robust business community is one of Tokyo’s greatest advantages. Forbes ranked Japan second for its number of companies included among the world’s 2,000 largest corporations in 2011. In 2012 Tokyo hosted the headquarters of 48 of Fortune’s Global 500 companies, more than any other city. Additionally the Japanese Olympic Committee (JOC) boasts over 26 sponsors from its gold partner and official partner program.

Added Takeda, “The theme of the World Economic Forum 2013 in Davos is ‘Resilient Dynamism,’ with a focus on minimised risk, which is directly in line with Tokyo’s vision for the Games. As a dynamic and innovative city, we are uniquely qualified to deliver an outstanding Games experience. The IOC can rest assured that there is little, if any, risk in choosing Tokyo as host of the 2020 Games.”

agile financial news updates tokyo japan