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Recession-hit JASA sees 200 mil. yen revenue shortfall

Recession-hit JASA sees 200 mil. yen revenue shortfall

TOKYO, March 9 Kyodo The Japan Amateur Sports Association (JASA) expects revenue for fiscal 1998 will be about 200 million yen short of the 3.8 billion yen forecast in its original budget, association officials said Tuesday. Corporate sponsorship revenue for JASA, which governs Japan’s amateur sports, is forecast to fall short of the original target by 62 million yen, while a 19 million yen shortage is also seen in public donations. Subsidies from horse racing and ”keirin” professional cycling race promoters are also projected to fall short by a combined 77 million yen for the current fiscal year to March 31. ”It’s been very difficult for us to attract sponsors amid the current recession, while the decline in profits from horse racing and keirin has also affected us,” JASA secretary general Hiroshi Takeda said. JASA also expects its fiscal 1999 revenue to drop 170 million yen from the figure projected for fiscal 1998.

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