The Japanese manufacturer is unhappy with the way sponsorship money has been used, according to sources in Japan.
With this summer’s Paris Olympics on the horizon, reports from Japan have suggested that Toyota will not renew a sponsorship deal with the Games.
The Japanese carmaker signed an agreement with the International Olympic Committee (IOC) in 2015, then reported to be worth $835 million (€769.5 million), which is due to expire this year.
Toyota is on the highest level of sponsorship (TOP), meaning they have the right to use the Olympic rings and branding in their advertising.
The firm is also providing vehicles during this year’s Games, which will be used to transport athletes, officials and other participants.
It has been widely reported that Toyota’s current agreement is the IOC’s largest sponsorship deal.
Citing “sources close to the matter”, Japanese news agency Kyodo nonetheless said Toyota was unhappy with the way sponsorship money was being used by the Olympic Committee.
The news agency, quoting the sources, said the money was “not used effectively to support athletes and promote sport”.
Reached by the Associated Press, Toyota declined to comment and said financial details were private.
The IOC is also yet to address the speculation.
Other companies on the Games’ TOP programme include semiconductor firm Intel, Coca‑Cola, Samsung, and Swiss luxury watchmaker Omega.
