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Tokyo 2020 Olympics

Tokyo Olympics price tag skyrockets by $3bn

One-year delay will incur additional labor and refinancing costs

New National Stadium, the main venue for the Tokyo 2020 Olympics and Paralympics. (Photo by Hiroyuki Yamamoto)

TOKYO -- The Tokyo organizing committee has estimated that the Tokyo Olympics and Paralympics will cost an additional 300 billion yen ($2.7 billion), Nikkei learned on Wednesday.

The price tag for the 2020 Games will increase due to being postponed, incurring additional labor costs and venue rental fees.

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