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Suntory CEO Takeshi Niinami told CNN Business in an exclusive interview on Monday that his company decided against being a sponsor of the upcoming Tokyo Games, saying it was “too expensive.”
“We thought of being an Olympic partner … but the economics didn’t match up,” said the chief of the Japanese beverage giant, which is home to brands such as Orangina and Jim Beam bourbon.
Instead of signing on as an official sponsor, Suntory chalked out another route to increase its visibility during the Games, which start this Friday: the Tokyo-based company planned to tie up with restaurants and bars around the sporting venues to promote its drinks, and open several establishments to serve its products exclusively.
“I thought that this occasion would be very much a showcase for us,” Niinami said in Tokyo. “I expected a lot of spectators from abroad to visit.”
“The…
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