MAM
Toyota inks deal with ESPN for Asia X Games sponsorship
Toyota has inked a deal with ESPN Star Sports for sponsoring the Asian X Games Qualifier and the ESPN Junior X Games in 2003 and 2004 in Kuala Lumpur, along with the Asian Xtour.
The two-year sponsorship agreement will have Toyota enjoying regional association with the Asian X Games Qualifier and ESPN Junior X Games through a combination of multi-level integrated benefits. This includes on ground and on-air entitlements around the event as well as marketing and on-line benefits. Toyota’s renewal also extends to its presenting sponsorship of the Xtour, a series of pre-qualifiers organized to select competitors for the Asian X Games Qualifier. The Tour is the only avenue for entry into the regional competition for the respective host nation’s athletes.
ESPN will televise the Asian event to more than 140 countries and territories around the globe from March 10 onwards.
The Asian X Games Qualifier, the multi-sport competition for action sports in Asia, was first held in 1998. Between 1998 and 2000 it took place on Phuket Island, Thailand. The move from Thailand to Malaysia is part of the X Games tradition of holding the event at a new location every few years. This transition brings the X franchise to new markets around the region, developing the sport and the athletes across Asia. The recently concluded Asian X Games Qualifier IV and ESPN Junior X Games III presented by Toyota was the inaugural Kuala Lumpur event and will run through to 2004.
Showcasing nearly 300 of Asia-Pacific’s best action sport athletes the event served as a qualifier to the summer X Games VIII to be held in Philadelphia in August, the pinnacle of global action sports competition. Athletes competed in aggressive in-line skating, bicycle stunt, skateboarding, sport climbing and wakeboarding. The Junior event, inaugurated in 1999, brought together 70 children aged 14 years and under in the spirit of fun competition modelled after the senior Games.
The success of the inaugural games in Kuala Lumpur demonstrated the popularity of action sports. The event attracted athletes from more countries than ever before and saw over 90,000 visitors over its 6-day run. This is expected to rise again in 2003 and 2004.
The Asian X Games Qualifier will see the addition of one of the most popular events next year within the Summer X event – the Moto X. Although not a competitive category, it will be the first step in its inevitable inclusion into the Asian X Games Qualifers.
Announcing the continuation of the sponsorship agreement, ESS Managing Director Rik Dovey said: “We’re excited to see the continuation of Toyota’s support for the Asian X Games Qualifier presented by Toyota for the next two years, and of the Asian Xtour presented by Toyota. Their already strong involvement with action sports through sponsorship of the event this past 3 years makes this a fitting extension to a long and healthy partnership”.
Mr Dovey added: “The popularity of action sports is now at an all-time high and the Asian X Games Qualifier has quickly established itself as the ultimate goal for Asia’s action athletes. Sponsors have been quick to see the benefit of associating with the event, and we are thrilled to be able to provide them with a way to leverage its potential. Whether they are looking at an on-ground sponsorship or advertising on-air, they understand the power of the X Games in capturing the imagination of both males and females, not only between the ages of 14 years and 35 years, but of all ages.”
Explaining the importance of the partnership to Toyota, Katsuyoshi Tabata, General Manager of the Overseas Marketing Division, in Toyota Motor Corporation said, “Toyota is excited to announce its continued support for the Asian X Games Qualifier, ESPN Junior X Games and Asian Xtour. Together these three events provide Asian action sports athletes and spectators alike with the ultimate opportunity to enjoy top level competition for their chosen sports. Providing such opportunities to athletes and communities around Asia where the Toyota brand is so loyally supported is at the core of our corporate strategy; one of commitment to communities globally demonstrated through our support of action sports events, cultural and musical events or the launch of our new Formula One team.
Brands
Wipro hires 7,500 freshers, withholds FY27 hiring outlook
Profit rises to Rs 3,522 crore, Rs 15,000 crore buyback announced.
MUMBAI- Hiring may be on, but visibility is off, Wipro is adding talent even as it pauses the crystal ball. The company hired 7,500 freshers in FY26 but stopped short of offering any hiring outlook for FY27, underscoring the uncertainty gripping the IT services sector as it pivots towards an AI-led operating model.
The disclosure came alongside its fourth-quarter earnings, where management flagged volatile demand conditions and refrained from committing to future workforce expansion. Chief human resources officer Saurabh Govil noted that over 3,000 of the total hires were onboarded in the March quarter alone, signalling continued intake despite a lack of clarity on deployment pipelines.
This divergence active hiring without forward guidance reflects a broader industry pattern where talent acquisition continues even as deal conversions remain uneven and client spending cycles stretch. Wipro expects its IT services revenue for the June quarter to range between a decline of 2 per cent and flat growth sequentially in constant currency terms, reinforcing near-term caution.
Chief executive officer Srini Pallia pointed to artificial intelligence as both a disruptor and an opportunity. He said evolving client priorities are pushing the company towards outcome-driven engagements, with Wipro increasingly focusing on a services-as-software model through its AI Native Business and Platforms unit. The shift marks a structural change from traditional headcount-led growth to AI-enabled delivery frameworks.
The company has already committed over $1 billion to its AI ecosystem, with investors closely watching how these investments translate into revenue. For now, the numbers present a mixed picture. Net profit rose sequentially to Rs 3,522 crore, while revenue grew 3 per cent to Rs 24,236 crore. However, core IT services performance remained under pressure, with full-year revenue declining 0.3 per cent in dollar terms and 1.6 per cent in constant currency.
Large deal bookings offered a counterpoint, rising 45.4 per cent year-on-year to $7.8 billion, highlighting a widening gap between deal wins and actual revenue realisation. On a quarterly basis, IT services revenue slipped 1.2 per cent sequentially, signalling continued softness in execution.
Margins, however, told a more optimistic story. Operating margins expanded to 17.3 per cent in the fourth quarter, up from 14.8 per cent in the previous quarter, reflecting improved cost discipline. That said, the company cautioned that upcoming wage hikes and the ramp-up of large deals could exert pressure going forward.
Attrition stood at 13.8 per cent in the March quarter, indicating stabilisation after periods of elevated churn. Alongside its earnings, Wipro also announced a Rs 15,000 crore share buyback, reinforcing its focus on shareholder returns, with a payout ratio of 88 per cent over the past three years.
Taken together, the numbers capture a company in transition investing in AI, maintaining hiring momentum, but navigating a demand environment where growth is uneven and visibility remains limited.
