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Panasonic eyes Olympic extension

Panasonic chief executive Kazuhiro Tsuga has said the Japanese home electronics company is keen to extend its long-term sponsorship of the Olympic Games up until the 2020 edition of the event in Tokyo.

Panasonic has partnered with the Games since 1987, providing cameras and big screens to competition venues.

Its present deal expires after the 2016 Olympics in Rio de Janeiro and Panasonic is assessing the options available to reshape its business after reporting losses of $15bn (€11.4bn) over the past two years.

“If we could expand that contract, we would be happy,” Tsuga said, according to Reuters. “Since it is in Tokyo, we have lots of chances.”

Panasonic is one of the International Olympic Committee’s 10 worldwide ‘TOP’ sponsors. Tokyo won the right to host the 2020 Olympic Games on Saturday, defeating rival bids from Istanbul and Madrid.