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Bribery scandal cuts Olympic sponsorship fees for Japanese retailers in half - Kyodo News

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TOKYO — Japanese suit retailer Aoki Holdings' Tokyo 2020 Olympic sponsorship rate was less than half the standard rate, Kyodo News reported Thursday, citing an unnamed source.

According to reports, Aoki Holdings paid 500 million yen to sponsor the Tokyo 2020 Games, less than half what other sponsors have paid.

On Wednesday, the Tokyo District Public Prosecutors Office arrested former Aoki Holdings chairman Hironori Aoki, former member of the Tokyo 2020 Olympic Committee Haruyuki Takahashi, and two other executives on suspicion of bribery. Reuters could not reach Aoki for comment.

Aoki Holdings said in a statement Thursday that it is cooperating fully with prosecutors, but cannot comment further as the investigation is ongoing. Edited by Michael Perry)