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  • Writer's pictureBy The Financial District

Ad Giant Dentsu Admits Bid Rigging Tokyo Olympics

The president of Japanese advertising giant Dentsu Group acknowledged corporate responsibility for suspected bid-rigging on contracts for the Tokyo Olympics and Paralympics, Japan Times and Bloomberg News reported.

Photo Insert: Dentsu President Hiroshi Igarashi made the bid-rigging admission during questioning by the Tokyo District Public Prosecutor’s Office.

Dentsu President Hiroshi Igarashi made the comments during questioning by the Tokyo District Public Prosecutor’s Office, NHK said Saturday, citing a source it did not name, Erica Yokoyama reported for Bloomberg News.

Officials for Dentsu and Tokyo prosecutors could not immediately be reached for comment outside of office hours.

The Fair Trade Commission (FTC) is making final arrangements to file a criminal charge against six companies, including Dentsu, for suspected violation of antitrust laws, NHK said.

The indictments could come as soon as Tuesday, broadcaster NTV reported separately.

Tokyo prosecutors raided the offices of Dentsu last year as part of a probe into possible collusion with other companies involving Olympics contracts set in 2018, according to broadcaster NTV.

All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

The Tokyo Games were postponed in 2020 by a year due to the COVID-19 pandemic and yielded a hefty $3.3 billion from sponsors by the time it kicked off in 2021. It was held without spectators due to the virus.

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