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Panasonic Signs Official Worldwide Olympic Partnership Agreement

Panasonic Corporation (TOKYO:6752) today announced it has signed an agreement with the International Olympic Committee (IOC) to renew its Official Worldwide Olympic Partnership agreement for a further eight years through to the 2024 Olympic Games. The signing ceremony in Sochi was attended by IOC President Thomas Bach and Kazuhiro Tsuga, President of Panasonic Corporation.

Kazuhiro Tsuga, President of Panasonic, and Thomas Bach, President of the IOC at the Signing Ceremon ...

Kazuhiro Tsuga, President of Panasonic, and Thomas Bach, President of the IOC at the Signing Ceremony (Photo: Business Wire)

Under the terms of the agreement, Panasonic will provide its cutting-edge technologies and products to support the PyeongChang 2018 Olympic Winter Games, the Tokyo 2020 Olympic Games, and the summer and winter Olympic Games to be held in 2022 and 2024. Panasonic is the first Official Worldwide Partner to have signed the partnership agreement for the period from 2021 to 2024.

As the sponsor in the Audio-Visual Equipment category, Panasonic provides the Olympic Games with a wide variety of products, including TVs, audio-visual equipment for broadcast and professional use, AV storage media, car navigation and related on-board entertainment systems equipment, and video surveillance equipment.

In this product category, Panasonic has acquired global marketing rights and first negotiation rights for the supply of equipment to the IOC and the Olympic Organizing Committee. Panasonic will continue to support the operation of the Olympic Games through its products in this category, services and technical support.

In addition, in preparation for the Tokyo 2020 Olympic Games, Panasonic has established the Tokyo Olympic Enterprise Division within the company for the development of new technologies and services to support the operation of the Olympic Games, and to maximize the business opportunities related to the Olympic Games.

Through these activities, the company is aiming to not only expand sales in Japan, but to strengthen its systems solutions business and expand its business globally.

“Panasonic has contributed to the Olympic Movement for over 25 years. Today, we are proud to announce our commitment to support the Olympic Movement for further eight years through to 2024,” said Kazuhiro Tsuga, at the signing ceremony. “Through our cutting-edge technologies and products, our staff and operations services, we will continue to support the Olympic Games, the greatest sporting event in the world.”

IOC President Thomas Bach welcomed the renewal of the Panasonic’s partnership and said, “We are thrilled to be able to announce that we will continue to work with our long term Partner Panasonic. Panasonic was one of the founding members of our global sponsorship programme, and is the first Partner to commit to continue their global sponsorship through to 2024. This is a clear demonstration of Panasonic’s continuing belief in the Olympic values and the company’s global commitment to the Olympic Movement.”

The Olympic Partner (TOP) Programme has the aim of providing financial and technical support from businesses by sponsor category for the staging of the Olympic Games and other activities. The contracts last for four years. Panasonic has been an official Worldwide Olympic Partner since the first TOP programme at the Calgary 1988 Olympic Winter Games, and today signed the agreement to renew its partnership for a further eight years.

About Panasonic

Panasonic Corporation is a worldwide leader in the development and engineering of electronic technologies and solutions for customers in residential, non-residential, mobility and personal applications. Since its founding in 1918, the company has expanded globally and now operates over 500 consolidated companies worldwide, recording consolidated net sales of 7.30 trillion yen for the year ended March 31, 2013. Committed to pursuing new value through innovation across divisional lines, the company strives to create a better life and a better world for its customers. For more information about Panasonic, please visit the company's website at http://panasonic.net/.

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