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Japan Fattens Grand Sumo Prizes as Demand for Advertising Rises

From bloomberg.com

While Japan may be just coming out of its fourth recession since 2008, here's one sign of reflation: cash prizes at this year’s Grand Sumo Tournament are setting a record. With Japanese companies boosting spending on advertising in the national sport that dates back 1,500 years, the value of prizes paid by sponsors has already exceeded last year’s total and could top the 2007 record of 353.5 million yen ($3 million) by about 22 percent, according to Japan’s sumo association. That’s a sign of strength in the corporate sector as the economy contends with a mid-year contraction, said Akiyoshi Takumori, an economist at ... (full story)

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