Olympic sponsor Panasonic is terminating its contract with the IOC at the end of the year. Panasonic is one of 15 companies that are so-called TOP sponsors for the International Olympic Committee.

Japan's Panasonic Holdings said on Tuesday it would end its 37-year contract as a top sponsor for the Olympics following the end of the Paris Games.

Longtime TOP sponsor Panasonic will not renew its deal with the international Olympic committee, marking another departure following the Paris Games. It's current contract expires in December.

Top Olympic sponsor Panasonic said in a statement Tuesday that it was terminating its contract with the IOC at the end of the year.

TOKYO: Olympic sponsor Panasonic is terminating its contract with the 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 International Olympic Committee.