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Tokyo Olympics cost ¥150 bil less than expected

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Fake news. Just trying to bait people into supporting winter Olympics in Sapporo.

18 ( +33 / -15 )

Already thinking of how to spend my tax refund.... :p

17 ( +23 / -6 )

I doubt that very much.

13 ( +22 / -9 )

150 billion from 1.64 trillion is quite small change..... Lets hope people enjoyed watching the small bore pistol shooting, archery, sailing, skateboarding and people in wheelchairs bumping into each other because they paid an awful lot of money for it.

16 ( +18 / -2 )

Savings are welcome but here is the point

the Olympics and Paralympics was nevertheless sharply up from the figure of 734 billion yen first estimated by Japan when it made its bid in 2013 to host the games.

14 ( +16 / -2 )

So I can assume the one million dollars American paid to Ex PMs (who was sacked again) non profit company (ceased to exist the next day) is accounted for? And we have a explanation as to what is was for and who said yes to that payment? What a farce. Accounting in Government circles would attract only the most desperate and morally corrupt of Tokyo university’s finest. They couldn’t get a Diet seat so they forgot basic math.

7 ( +12 / -5 )

despite coming in under expectations,

When will the un-redacted accounting sheets be made available for public review? My guess is some time long after the 12th of Never.

11 ( +14 / -3 )

Putrid accounting, putrid practices, welcome to the Olympics family. We have 28,00 uniforms we can’t sell due to contractual arrangements., if you know of a small army needing uniforms let us know. We also have a variety of tiny face masks that come complete with a Friday off ticket. Blinkers to reality are sold separately. Look over there a shinny shinny thing. Job done.

9 ( +13 / -4 )

*The total cost of the Tokyo Olympics and Paralympics was at least 150 billion yen ($1.3 billion) less than expected as the Games were mostly held without spectators, helping to cut labor costs and other outlays, officials with knowledge of the matter said Friday.*

I call BS! I want to see the receipts, invoices and accounting-data over vague "statements" by stakeholders "("culprits" more like it).

*Cost reductions stemming from the absence of spectators due to the coronavirus pandemic more than compensated for losses on ticket sales, estimated at around 90 trillion yen, meaning there is unlikely to be an additional burden placed on taxpayers.*

Err, me think somebody got the numbers of zero wrong. The whole Olympics are supposed to have cost 4 trillions. 90 trillions is like 90% of the whole country's yearly budget!! Mods, wake up!

*The organizers increased the total budget to 1.64 trillion in December 2020 from its earlier budget of 1.35 trillion yen due to the unprecedented one-year postponement of the Games over the pandemic.*

Err, last time I read some news about the budget it did triplicate to around 3 trillions with a strong option to reach 4 trillions are expenses were still incoming. If you compare the returns with the originally budgeted amount, conveniently forgetting about the latest real estimates, yeah, I guess it went pretty peachy, didn't it...

Long story short: Kyodo choking us with a few cheap mirrors and tons of smoke here!

4 ( +13 / -9 )

If you trust this I have a bridge to sell you! Total nonsense!!!

9 ( +16 / -7 )

Just to make it clear... the original bid was for 734 billion yen which magically ballooned to 1.64 trillion ..and the final result is 150 billion less than the more than doubled cost....and the wording of the headline is supposed to make us feel better about this porkfest? GTFO Kyodo propaganda " news".

10 ( +17 / -7 )

The ‘spin’ continues…

7 ( +14 / -7 )

Okay, then! We’ll ALL play along! - So, tell us, …

WHEN are those stimulus monies going out to Japan’s needy, ONLY the one’s that truly need it quick:

the jobless, the homeless, low-income families and their hungry children ?
7 ( +12 / -5 )

Tokyo Olympics cost ¥150 bil less than expected

Sure. But also, ZERO income.

8 ( +10 / -2 )

Funny.My upvotes for these erudite comments are multiplied by three.

Clickbait, anyone?

4 ( +7 / -3 )

It should have never cost a dime to me.

Why did I have to work one month free of charge (as a slave) just to pay for this Olympics?

I am not even an athlete or a spectator.

So why did I had to spend my money on this show instead of on my family and myself?

5 ( +7 / -2 )

Estimates have the total amount around $15 Billion. There are only 339 events. Does spending $45,000,000 per event really sound like a good way to spend tax payer money? Not only that, we couldn’t even see the events in person! Extravagant waste of money!

1 ( +4 / -3 )

Bunch of lies i think.

What about the cost of human lives and all the disruption due to all the covid 19 infections and lack of healthcare because of the Olympics.

Wasted food and uniforms.

-5 ( +4 / -9 )

OK. So how much did it make? What was the profit? Any?

2 ( +5 / -3 )

I wonder how anyone could state this with a straight face!

Oh and which "expectation" were they really referring to, because if they go back to the original cost estimate its still way over budget!

3 ( +6 / -3 )

So it works without spectators. Great, hold it on a Los Angeles backlot from now on then.

2 ( +4 / -2 )

This is like saying 'I was going to buy a ¥150 onigiri for lunch, but decided to get a wagyu steak instead for ¥18,000 because it was 10% off. So I suppose I actually saved ¥2,000'.

5 ( +8 / -3 )

Let us not forget that the bid, on which this heist was based, was JPY 8.5 billion. $75M USD.

That's documented fact - and, one suspects, the last bit of documentation we, the taxpayers who are paying the bill, will ever see.

Half the cost of the failed 2016 bid of 17 billion, 5 billion of which was "spent" on the failed bid, and for which then-Governor Ishihara promised to show where every yen had gone, then never mentioned it again.

But the successful (?) bid was 8.5 billion JPY.

The final figures officially released was 1.64 TRILLION.

Gee, I wonder how the price could possibly have increased so much?

https://www.japantimes.co.jp/news/2019/09/28/national/subcontractor-suspected-using-homeless-people-supplied-yakuza-work-olympic-village-project/

https://www.thedailybeast.com/the-yakuza-olympics

https://www.vice.com/en/article/kz9e89/photos-allegedly-tying-an-olympic-official-to-the-yakuza-keep-causing-him-problems

This whole fiasco was one big heist.

Don't tell me we saved money when taxpayers will be paying the bill for the Yamaguchi-gumi for decades.

-1 ( +4 / -5 )

They are trying to overshadow the news coming out about the wasteful spending for the Olympics. No different than Shinzo Abe and the unused face mask!

They want the next winter Olympics in Sapporo!

-1 ( +3 / -4 )

150 billion less than expected as the games were held without spectators.

90 trillion loss on ticket sales.

Last time I looked a trillion was 1000 times a billion (unless it has been redefined in Japanese accounting terms).

So I am finding it difficult to reconcile the statement in the second paragraph that the one more than compensated for the other?

0.06% of it possibly.

The politest description of this is smoke and mirrors. The more truthful description is deliberate and outright lying.

0 ( +4 / -4 )

Oh, just as an after thought, how much will the IOC be coughing up to help cover the losses?

Thought so.

-3 ( +2 / -5 )

Glad to know top accountants have worse math skills than me.

-1 ( +4 / -5 )

Unbelievable that there is no mention of an external independent auditor. How is it even possible. I won't be surprised that with the release of this fake report they have already shredded all the documents,

1 ( +3 / -2 )

RE: Blue

Many thanks for having pointed to the 90 trillion-yen estimate of the foregone revenues. This underscores how overworked GTFO writers are due to overpaid administrators whose concerns are Kasumigaseki. Just trace their history. This reader, all the more, admire Mark Twain who was proud of the Associated Press. Unlike indo-European languages, based on 3 digits, Asian languages are based on 4-digit rounding: Man_Yen, Hyakuman_yen, Cho_yen; one of many inefficient factors, including keigo minefields, that coninue to afflict the local economy for the 3 decades. People care little about productivity, but crazy about keigo or period-names like Heisei or Reiwa. Koreans ditched Chinese numericals long ago.

-4 ( +0 / -4 )

Doesn't matter even if they cut it to near nothing. Fact is that the IOC isn't welcome here anymore nor does the olympic stand for what is use to represent. Is one big corrupt organization and a giant burden on the tax payers of any nation wanting to host them. Money that could easily be spend better elsewhere. There are plenty of tournaments within our nation that allow our athletes to shine.

-3 ( +1 / -4 )

People who were against the Olympics from day one, saying it should be canceled for past two years.

What opinion can they have except be against it. You could say it saved 500 billion less, they would not believe it or accept it.

Olympics being a success is a problem for them. They wanted failure, and was looking for I told you so moment.

-2 ( +4 / -6 )

@reasonandwisdomnippon

As long as you don’t mind paying more and more taxes for LDP gaffes then it’s ok, right?

-1 ( +4 / -5 )

If you trust this I have a Covid free killer vaccine manufactured in China for you.

0 ( +4 / -4 )

Very good news!

I knew it was a wise decision to support it after all. Love judo and table tennis!

-4 ( +3 / -7 )

Cost overruns for the Tokyo 2020 Olympics slightly less than expected.

They budgeted more than the cost overruns.

1 ( +2 / -1 )

@Bradley

Well said!

Congratulations to successful Tokyo Olympics 2020.

-2 ( +3 / -5 )

Thomas Goodtime:

"Olympics being a success is a problem for them (Anti-Olympics activists)."

Unfortunately for you, they weren't a success.

Actually, it was a great success under the circumstance. Obviously it would be much better without Covid-19 problems. However, superspreading, feared by some, never happened.

Staging an Olympics during the worst pandemic in a century? There’s a widespread perception that it couldn’t happen in a better place than Japan....Japan is one of the few places in the world that could even consider pulling off the high-stakes tightrope walk that the Tokyo Games represent. (AP)

And Japan indeed successfully pulled it off. That's the legacy of the Tokyo Olympics 2021.

In addition, Japanese athletes did so well with 27 gold medals, the third after US and China.

Before Olympics Games (Jan 2021): 27% supported the Olympics

After Olympics Games (Aug 9): 64% supported the Olympics

This stunning turnaround shows nothing but success.

Now, the only worry that remained so far was its cost: How much more to pay? Do we have to raise tax?

The answer came: No.

A very good news for Tokyo.

0 ( +3 / -3 )

When you think of Olympic cost, you should remember the surge of new cases of COVID during the game.

When you think of Olympic revenue, you should count loss of tourism industries aside from loss of tickets.

These facts give you different story.

0 ( +1 / -1 )

Tokyo Olympics is not refunding the tickets purchased! (Purchased directly from Tokyo Olympics via the original lottery)

This is why they don"t need extra money, they are stealing the money they claimed they would refund.

How I know?

When my refund didn't come in October, I have asked them 3 times to refund it but they just replied to "wait". Now, today I get an e-mail saying the ticket refund website will close later this month and basically "please get your refund before then". What scamers.

-1 ( +0 / -1 )

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