Mizuno Sports Promotion Foundation (a public interest incorporated corporation) was established by merging and renaming the Mizuno Sports Promotion Association (a general incorporated foundation) established on September 1, 1970, under the dying will of Mizuno Corporation founder Rihachi Mizuno, and the Mizuno International Sports Exchange Foundation (a general incorporated foundation) established on February 9, 1977, under the will of Kentaro Mizuno, the second-generation president. On April 1, 2011, its official status was changed to a public interest incorporated corporation.
The purpose of the foundation is to“ conduct projects to promote sports in Japan and further contribute t o t he h ealthy m ental a nd p hysical d evelopment o f i ts c itizens.” T he f oundation funds projects to support various sports promotion activities and activities concerning the development of international sports exchanges, as well as projects to promote sports, conduct international sports exchanges, and perform scientific research on sports. It also awards outstanding sports instructors and sports writers, holds exhibitions on the history of sports, especially of the Olympic and Paralympic Games, and organizes commemorative events, such as symposiums.
Currently, the foundation owns 4,377,710 shares of Mizuno Corporation, and the revenue from these shares has been used to promote sports, accumulating to a total of approximately USD 61.42 million (up to FY2022.)