Coca-Cola Co. is raising its pledge of support for relief and rebuilding efforts in Japan to $31 million over the next three years. The stepped-up pledge comes less than two weeks after Coca-Cola promised$7.3 million in cash and beverages in the aftermath of an earthquake and tsunami.
It appears to be one of the largest sums Coca-Cola has ever earmarked for disaster relief.
Muhtar Kent, chairman and chief executive of Coca-Cola, visited Tokyo for two days recently to meet with employees and bottlers. He was accompanied by directors Herbert A. Allen and James D. Robinson III.
"We were very keen to be here in Tokyo to understand clearly what on-the-ground support is needed for Japanese communities and our business," Kent said in a statement. "We have been deeply moved by what we have seen and heard."
Coca-Cola is establishing a fund to help rebuild schools and other facilities that support children. The company said it would match employees' contributions over the $31 million it has pledged.
