TOKYO — Olympic sponsor Panasonic is terminating its contract with the International Olympic Committee (IOC) at the end of the year, the company said in a statement on Tuesday.

Panasonic is one of 15 companies that are so-called TOP sponsors for the IOC. It is not known the value of the Panasonic sponsorship, but sponsors contribute more than $2 billion in a four-year cycle to the IOC.

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