Cost estimate for 2020 Tokyo Games cut by 35b yen

December 20, 2017

Tokyo- The Tokyo Olympics and Paralympics organizing committee has newly estimated that costs to hold the 2020 Games will total 1,350 billion yen, down 35 billion yen from its initial estimate, informed sources said Wednesday.

In May, the Tokyo metropolitan government, the organizing committee, the Japanese government and municipalities to host Olympic and Paralympic events outside the capital broadly agreed on the cost estimate of 1,385 billion yen excluding reserves.

Of the total, 35 billion yen was initially to be shouldered by those municipalities but the metropolitan government in September decided to reduce the amount to 34 billion yen and cover it with proceeds from lottery sales.

The latest estimate, to be made public Friday, no longer contains the costs to be covered by the municipal governments, the sources said. It shows Tokyo and the committee will put up 600 billion yen each and the government 150 billion yen.

Meanwhile, John Coates, chairman of the International Olympic Committee's Coordination Commission for the Tokyo Games, has expressed the view that the total costs can be slashed by one billion dollars. Jiji Press