The organising committee of Tokyo’s bid to host the 2020 Olympic and Paralympic Games signed five more partnership agreements, which brings the total of official bid partners to 16.
The five new bid partners are: Japanese food manufacturer Marudai Food, label manufacturers EH, amusement facilities operator Maruhan, travel agency TourTour and Japanese building firm Daiwa House Industry.
The exact financial terms of the partnerships were not announced.
Tsunekazu Takeda, president of the Japanese Olympic committe and Tokyo 2020, said: “I am delighted to introduce Marudai Food, EH, Maruhan, TopTour and Daiwa House Industry as our latest official 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 US$4.5 billion. Our budget is fully guaranteed and our financial superiority is unmatched.”
The five companies join existing bid partners Yomiuri Shimbun newspaper, social gaming platform Gree, Yahoo! Japan, Alsok / Sohgo Security Services, Japan Airlines, All Nippon Airways, sportswear brands Mizuno, Asics and Descente and travel agencies JTB and Kinki Nippon Tourist.
Should it succeed in its bid to win the Games in September, Tokyo 2020 expects the city to generate US$930 million through local sponsorship and official suppliers. Madrid and Istanbul are also bidding to stage the 2020 Games alongside Tokyo, which hosted the summer Olympics in 1964.