• Kyodo, JIJI

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If the spread of the new coronavirus forces the cancelation of the Olympics, it will reduce Japan annual gross domestic product by 1.4 percent, a securities firm estimates.

In a report Friday, SMBC Nikko Securities Inc. projects the sporting extravaganza will create ¥670 billion ($6.4 billion) in consumer demand and that canceling it will sap about ¥7.8 trillion from GDP.

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