Panasonic's Tokyo Games Order Receipts to Exceed 200 B. Yen

Economy

Tokyo, July 11 (Jiji Press)--Panasonic Corp.'s <6752> order receipts linked to the 2020 Tokyo Olympics and Paralympics are expected to exceed 200 billion yen, Executive Officer Masahiro Ido said Thursday.

The Japanese electronics company initially aimed to achieve 150 billion yen in cumulative sales related to the Tokyo Games in the six years through March 2021.

The latest estimate includes over 34 billion yen from direct demand such as competition venue equipment, over 136 billion yen from infrastructure development and over 24 billion yen from new businesses, Ido said at a press conference in Tokyo.

The new businesses, which are joint projects with more than 40 firms, include outdoor air conditioning that lowers temperatures by spraying mist that does not soak people and baggage delivery services for foreign visitors utilizing quick response, or QR, codes.

Such new businesses are expected to generate cumulative sales of 70 billion yen by 2022, Ido said.

[Copyright The Jiji Press, Ltd.]

Jiji Press