Xinhua
21 Jun 2022, 21:35 GMT+10
TOKYO, June 21 (Xinhua) -- The Tokyo Olympic organizing committee will be dissolved on June 30, president Seiko Hashimoto announced at the last board meeting on Tuesday.
Seiko Hashimoto revealed that employees have been reduced from over 7,000 to 161 after the Tokyo Paralympic Games concluded last September.
Hashimoto, a seven-time Olympian, said her biggest regret might be failing to bring spectators to the venues even though full preparations had been made.
"But we had to make that decision," she said.
The Tokyo Olympic Games became the first in history to be postponed due to COVID-19 and were finally held between July 23 to August 8, 2021.
Toshiro Muto, the CEO of the Tokyo organizing committee, revealed that the total games expenditures, including those borne by the Japanese central government and the Tokyo metropolitan government, are 1423.8 billion yen, which is about 13.0 billion U.S. dollars based on last year's exchange rate.
That total expenditure has been reduced by 220.2 billion yen (2.0 billion U.S. dollars) from the version five budget announced in December 2020.
Of all the costs, Tokyo 2020 will cover 45%, the metropolitan government 43%, and the Japanese central government will account for 12%.
The committee also declared it had achieved a balanced budget of 640.4 billion yen (5.8 billion U.S. dollars), with local sponsors, TOP sponsors, the IOC and an insurance payment being contributors.
Get a daily dose of Japan Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Japan Herald.
More InformationHONG KONG: China has fired back at the European Union in an escalating trade dispute by imposing new restrictions on medical device...
WASHINGTON, D.C.: President Donald Trump says the United States could soon reach a trade deal with India. He believes this deal would...
HT Syndication Mumbai (Maharashtra) [India], July 9: Neev II Fund (managed by SBI Ventures Limited - a State Bank of India group...
Taipei [Taiwan], July 9 (ANI): In June, Taiwan's exports reached a new monthly high of USD 53.32 billion, marking the 20th consecutive...
The delay adds yet another twist to Trump's original 90 deals in 90 days promise -- so far yielding only two vague trade agreements...
The European Commission president has accused Beijing of helping Moscows war economy European Commission President Ursula von der...
OTTAWA, Canada: With Canada Post struggling to maintain operations amid labour unrest, rivals like FedEx and UPS are stepping in to...
NEW YORK, New York - U.S. and global markets showed a mixed performance in Tuesday's trading session, with some indices edging higher...
PARIS, France: French military and intelligence officials have accused China of orchestrating a covert campaign to damage the reputation...
NEW DELHI, India: Birkenstock is stepping up its efforts to protect its iconic sandals in India, as local legal representatives conducted...
HONG KONG: China has fired back at the European Union in an escalating trade dispute by imposing new restrictions on medical device...
NEW YORK, New York - Monday's trading session saw mixed performances across U.S. and global markets, with several major indices posting...