Prosecutors searched the Tokyo home of an executive of the now-defunct Tokyo Olympic organizing committee on Tuesday on the grounds he may have accepted bribes, investigative sources said.

Haruyuki Takahashi, 78, is believed to have received around ¥45 million from major business suit retailer Aoki Holdings after a company he headed reached a consulting deal with the firm. Aoki's Olympic sponsorship was announced about a year later.

Investigators are looking into the flow of funds and what influence it had on the holding of the sporting event, as Takahashi was deemed a quasi-civil servant in his capacity as an executive of the committee. Accepting money or gifts related to his duties could constitute bribery and Takahashi could face corruption charges.