• Kyodo

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The budget for the 2020 Tokyo Olympics may be revealed as early as Dec. 21, when the cost-reviewing group will meet via a teleconference, according to an organizing committee source.

The working group, made up of the International Olympic Committee, the Tokyo organizing committee and the central and metropolitan governments, is expected to announce a figure larger than the ¥734 billion declared during the bidding process.

At a previous gathering of the parties on Nov. 29, the organizing committee reported that the overall price tag would likely be below ¥2 trillion, but the IOC demanded further cuts.

At their Dec. 21 meeting, the parties are also expected to announce a final decision on the volleyball venue, choosing between building a new facility called Ariake Arena near Tokyo Bay or using the existing Yokohama Arena.

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