Toyota says it will end Olympics and Paralympics sponsor contract

Toyota Motor Chairman Akio Toyoda said on Thursday the company will end its contract as a top sponsor for both the Olympics and Paralympics following the end of the Paris Games.

The company will continue to support athletes, however, Toyoda said during an interview in the company-owned media channel.

Earlier this month, Panasonic Holdings announced it would end its 37-year contract as a top sponsor after it became an official partner of the Olympic Games in 1987.