KDDI becomes a new sponsor partner of Toyota

Strong finances
By Site Staff (04/03/03)
March 4 2003

Toyota's already strong financial position with Formula One became stronger last week with the news that the team have signed another sponsor. Japanese telecommunications company KDDI will have their logo on the TF103's front wing.

The team press release on the signing reads:

Toyota Motor Corporation, Toyota Motorsport GmbH, and KDDI have announced today that Japanese telecommunications company KDDI has become a sponsor partner of the Panasonic Toyota Racing Formula 1 team. During the team's press conference held in Tokyo, Team Principal Ove Andersson revealed the news, with just a few days to go before the opening race of the 2003 season in Australia.

KKDI's corporate logo will appear on the front wing of the Panasonic Toyota Racing TF103 race car.

Mr. Tadashi Onodera, President of KDDI, commented, "KDDI has been involved in motorsport in the past by becoming the title sponsor of a Japan GT championship team, for example. We have been impressed by the Panasonic Toyota Racing team’s spirit to challenge. Toyota started from a clean sheet of paper and built a team for the pinnacle of motorsport, F1, and we decided to become a sponsor partner. We believe that F1 is a very effective media for us to strengthen our KDDI brand in the world, not to mention Japan. We are looking forward to the growth of our KDDI brand as the team becomes more and more competitive in the future."

Welcoming the new sponsor, Akihiko Saito, Executive Vice President of Toyota Motor Corporation, said, "We are very pleased and honoured to have KDDI as our new sponsor partner. We are expecting another very competitive season this year, but we would like to show our "challenge" in the race to fans and our partners and we will do our best to live up to their expectations."