First Tokyo Olympics Postponement Mention in Japan... "Possible if Within This Year"

Olympics Minister: "It Can Be Held Within 2020"

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Hyunwoo Lee] Japan, which had declared it would hold the Tokyo Olympics as scheduled despite the impact of the novel coronavirus infection (COVID-19), has raised the possibility of postponement for the first time. There are even views that if the COVID-19 situation is not resolved by the end of May, holding the event may become impossible. If the Tokyo Olympics are canceled, Japan is expected to face losses amounting to tens of trillions of won.

According to local Japanese media such as NHK, Seiko Hashimoto, Minister in charge of the Tokyo Olympic and Paralympic Games, stated on the 3rd at the Japanese House of Councillors Budget Committee that when asked about the possibility of postponing the Tokyo Olympics, "The contract between the International Olympic Committee (IOC) and the host city states that the IOC has the right to cancel only if 'the main event is not held within 2020,' and based on this interpretation, postponement within 2020 can be considered possible." Until now, the Japanese government had maintained a stance of holding the Tokyo Olympics unconditionally on the originally scheduled date of July 24 despite the COVID-19 situation, but this can be interpreted as somewhat more flexible.

Minister Hashimoto added, "Although it was not an official view, I saw a remark from an IOC member saying 'Isn't the end of May the final deadline?' so I think the end of May has become a significant benchmark." Earlier, IOC member Dick Pound said in an interview with the AP news agency on the 25th of last month, "By the end of May, the IOC will decide whether to hold the Tokyo Olympics and Paralympics," and added, "There is a higher possibility of cancellation than postponement."

In Japan, reports have emerged that if the possibility of canceling the Tokyo Olympics becomes a reality, the damage could amount to nearly 30 trillion won. Economist Toshihiro Nagahama of the Dai-ichi Seimei Economic Research Institute said in an interview with the Tokyo Shimbun, "If this Olympics is canceled, the expected economic loss for Japan will reach 2.6 trillion yen (approximately 28.75 trillion won)." This estimate combines losses in personal consumption such as accommodation and transportation for spectators at 1.8 trillion yen and losses in consumption by foreign visitors to Japan at 800 billion yen.

Contrary to concerns within Japan, the IOC issued a statement that the Tokyo Olympics will be held as scheduled. IOC President Thomas Bach said on the day, "The IOC will do its utmost for the success of the Tokyo Olympics," encouraging athletes worldwide to "prepare for the 2020 Tokyo Olympics."

This content was produced with the assistance of AI translation services.