The Kyoto Municipal Government is accepting applications from potential sponsors interested in buying the naming rights to the Kyoto Municipal Museum of Art.
The city on Thursday began seeking sponsors willing to cough up ¥5 billion for a deal that would last up to 50 years. Any company in Japan is eligible to bid and applications will be accepted until Sept. 30.
Kyoto officials said it is the first time a public museum in Japan has offered naming rights. The city plans to use the money to renovate the facility by building an underground entrance to the main building and adding a new complex. The project is expected to cost roughly ¥10 billion.
The new name will take effect from the day the renewed museum opens in fiscal 2019.
The city is aiming to get the main building, completed in 1933, listed as an important national cultural property.