JAPAN'S corporate giants are ready to chip in for another Olympics in Tokyo in the hope the Games will provide the same economic boost as the 1964 edition, Toyota's chairman says.
Despite years of deflation that has forced big Japanese companies to reduce sports sponsorships including the ending of Panasonic's deal with golf star Ryo Ishikawa, Fujio Cho said Japan Inc would bring plenty to the table.
"If Tokyo gets the 2020 Olympics, I believe businesses will become sponsors and support them," the Toyota chairman said after meeting a team from the International Olympic Committee who are evaluating Tokyo's bid.
"The Japanese economy soared very quickly after 1964," Cho, 76, told reporters on Tuesday.
"I don't think it will do quite the same again but I have no doubt it will provide a boost."
The Toyota boss was among business leaders who briefed the 14-member inspection team on finance and marketing, two of the 14 themes the three candidate cities outlined in reports to the IOC last month.
After four days in Tokyo, the team will visit Madrid and Istanbul later this month before drawing up a technical report on the bids for the 101 IOC members who will vote to choose the 2020 host on September 7.
Financial health is also a strong point in Istanbul's bid as Turkey has enjoyed years of high economic growth. But Madrid is struggling as Spain battles a recession and high unemployment while slashing spending.
Officials said public support for Tokyo's bid had soared to 70 per cent from 47 per cent, citing IOC surveys.
"I am very pleased to hear this figure," JOC president Tsunekazu Takeda told reporters. "We should not be content with 70 per cent. We will make efforts to muster more support from as many people as possible."
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