(Bloomberg) -- Toyota Motor Corp. is considering dropping out as one of the top sponsors of the Olympics after this year’s Paris Summer games, Kyodo reported, citing unidentified people familiar with the situation. 

The world’s largest automaker, however, is willing to extend its deal for the Paralypmic Games, Kyodo said. A spokesperson for Toyota declined to comment on the report. 

Toyota has been an Olympic Partner since 2015, along with the likes of Airbnb Inc., Coca-Cola Co. and Omega. The carmaker will focus more on supporting athletes directly, Kyodo said. The Olympics deal is probably worth more than ¥100 billion ($637 million) in total, the report said. 

Toyota was caught up in controversy surrounding the Tokyo Olympics in 2021, which went ahead without spectators during the Covid-19 pandemic. The company decided not to air television advertisements in Japan during the games.   

The potential move away from the Olympics stands in contrast with Honda Motor Co., which last year signed a deal to return to Formula 1 racing as an engine supplier to Aston Martin Racing Ltd.

©2024 Bloomberg L.P.