All sponsors to extend contracts for postponed Tokyo Olympics

Additional support money of over $212m to come from 68 companies

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Yoshiro Mori, left, president of the Tokyo Organizing Committee of the Olympic and Paralympic Games, leaves a news conference in Tokyo on Thursday. (Pool photo)

Nikkei staff writers

TOKYO -- The Tokyo Organizing Committee of the Olympic and Paralympic Games has reached basic agreements with all 68 domestic sponsors on additional support money needed due to the one-year postponement to next summer as a result of the coronavirus pandemic.

"We cannot be too grateful," committee head Yoshiro Mori said at a news conference in Tokyo on Thursday. "Though there should be lots of debate in-house, I believe they will continue to support us, as they accept the huge significance" of hosting the events, the former Japanese prime minister added.

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