Japanese tyre giant Bridgestone has officially become a top tier worldwide Olympic sponsor until 2024.
International Olympic Committee (IOC) President Thomas Bach made the announcement today at the company's global headquarters in the Japanese capital Tokyo, alongside chief executive and Board of Bridgestone chairman Masaaki Tsuya.
It means Bridgestone sits alongside 10 heavyweight companies, which include McDonald's and Visa, as a member of the The Olympic Partner (TOP) programme.
As well as the Rio 2016 Olympic Games, the deal will cover the two games to be held in Asia - Pyeongchang 2018 and the Summer edition in Tokyo in 2020.
It will also be in place for the 2022 Winter Games, a location for which will be decided on July 31 next year, and the 2024 Summer Games.
Bridgestone will "supply tyres and related services to support the transport operations at Games time", including vehicles for the athletes, media and officials.
IOC President Thomas Bach said: "Bridgestone is a global leader in its field, and we are delighted to welcome the company to the TOP programme and are excited about the long-term commitment they have shown to the Olympic Movement."
The deal was first mooted last month, with the company paying a reported 35 billion yen (£204 million/$344 million/€252 million) to become an IOC sponsor, according to Japanese news agency Kyodo News.
"As a global corporation, Bridgestone is excited to partner with the entire Olympic Movement, a group of organisations that not only brings together the world's athletes at the greatest athletic festival, but also blends this celebration of sport with a spirit of service to community, social responsibility, a respect for diversity and a commitment to the fundamental principles of Olympism," said its chief executive Tsuya.
"We look forward to a long and mutually beneficial relationship where, through this partnership, we will communicate on a global basis our commitment to society as well as our brand message."
The deal covers a number of product categories, including seismic isolation bearings, non-motorised bicycles, and the full range of tyres manufactured by Bridgestone.
Tsunekazu Takeda, the IOC's Marketing Commission chairman, President of the Japanese Olympic Committee and vice-president of the Tokyo 2020 Organising Committee, said "I am delighted that a leading Japanese company, Bridgestone, will become the 11th Worldwide TOP Partner and the second TOP Partner to commit through to 2024.
"As the first Partner the IOC has signed under my chairmanship of the Marketing Commission I am also personally very happy that we were able to make this global announcement in Tokyo."
Bridgestone was founded in 1931 in Fukuoka.
Its name comes from a calque translation and transposition of ishibashi, meaning "stone bridge" in Japanese.
It has nearly 150 production facilities in more than 25 countries.
Last year, the company signed a deal until 2017 to become the title sponsor of Copa Libertadores, South America's equivalent of Europe's UEFA Champions League.
It is also a sponsor of the International Ski Federation's Alpine Ski World Cup events and involved in the National Football League, National Hockey League and the Professional Golfers Association in the United States.
Bridgestone joins Coca Cola, Atos, Dow, GE, McDonald's, Omega, Panasonic, P&G, Samsung, Visa, as a TOP sponsor.
The IOC says money generated by commercial partnerships accounts for more than 40 per cent of Olympic revenues.