Panasonic is the proud sponsor of 17 Olympic and Paralympic events, following a tradition that extends back to 1988. The company established its Tokyo Olympic & Paralympic Enterprise Division (formerly Tokyo Olympic Enterprise Division) in April 2014. In October of that year, Panasonic concluded a worldwide partner agreement with the International Paralympic Committee, the first such partnership for any Japanese company.
Panasonic has in-depth experience in the Olympic and Paralympic arena accumulated through the provision of solutions such as its latest imaging and AV equipment and its projection-mapping technology. The company provided operational support for the Opening and Closing Ceremonies at the Olympic and Paralympic Games Rio 2016 and the PyeongChang 2018 Winter Games. In addition Panasonic is developing new technologies and services that will be deployed during the Olympic and Paralympic Games Tokyo 2020.
Executive Officer Masahiro Ido, director of Panasonic's Tokyo Olympic & Paralympic Enterprise Division, hosted a media seminar at Panasonic's Ariake Studio in Tokyo in July 2019, one year before the start of the Tokyo 2020 Games. He used the opportunity to look back on Panasonic's thirty-plus years of sponsoring Olympic events and, with the company now an official Olympic Worldwide Partner, presented the company's vision and initiatives for 2020 and beyond.
To support next year's Tokyo 2020 Opening and Closing Ceremonies, Panasonic will provide its very latest AV technology and solutions. The company will also supply and operate huge state-of-the-art LED screens at a number of stadiums. The company is already looking ahead to the Beijing 2022 Winter Games and Paris 2024, where Panasonic will continue to play an invaluable role in its support of the world's foremost athletic competition.
In preparing for 2020, Panasonic has identified a number of fields where it can make meaningful contributions through new business models, including those where it will work in collaboration with customers and partners. The result is a suite of solutions that Panasonic calls "5 Smart + Next 3." Several of these solutions are already being tested on a commercial basis in conjunction with more than 40 partner companies.
Businesses generated from these new solutions are expected to produce cumulative sales of more than 200 billion yen by 2020.
The "Next 3" solutions comprise:
The "5 Smart + Next 3" strategy will not end in 2020, because Panasonic is already planning to enhance the value of legacy Olympic and Paralympic facilities that will remain in use after 2020. The strategy is centered on the joint development of new business concepts with clients and partners who are engaged in urban development. These collaborative businesses will encompass consulting, proposals and demonstrations. Some of the specific initiatives include:
By means of such initiatives, Panasonic aims to package major facilities into single products to improve their asset values.
Panasonic has been steadily receiving orders for stadiums, athletes' villages and related facilities as part of its 2020-focused activities. Cumulative sales are forecast to exceed 200 billion yen, or 1.89 billion USD, well in excess of the initial target of 150 billion yen. Thereafter, additional new business is forecast to potentially exceed 70 billion yen by 2022.
A common feature of these 2020-and-beyond initiatives is collaboration with other companies. Going forward, Panasonic will continue to pursue practical and sustainable solutions that flexibly address society's real needs, as reflected in the company slogan, "Creating the future Japan."
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