Japanese Olympics sponsors cancel promotional events tied to the Tokyo 2020 Games

Japanese Olympics sponsors cancel booths and promotional events tied to the Tokyo 2020 Games, due to last-minute decisions by organizers regarding spectators. Companies like Canon, Tokio Marine, and Nichido Fire Insurance and Ajinomoto, have stepped forward for this.

Almost 60 Japanese companies paid more than $3 billion for sponsorship rights and then another $200 million to extend their contracts after the Games were delayed last year due to the pandemic. Organizers had banned overseas spectators and planned a cap on domestic viewers at 50 percent of capacity, or up to 10,000 people. But now, no spectators are allowed to attend Olympics this year.